XML 66 R45.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Fair Value Measurements (Tables) | 12 Months Ended
--- | ---
Mar. 29, 2014
Fair Value Disclosures [Abstract] |
Summary of the Fair Value and Carrying Value of Financial Instruments | The book value and estimated fair value of the Company’s financial instruments are as follows (in thousands):
| March 29, 2014 |  | March 30, 2013
| Book Value |  | Estimated Fair Value |  | Book Value |  | Estimated Fair Value
Available-for-sale investment securities (1) | $ | 19,802 |  |  | $ | 19,802 |  |  | $ | 17,698 |  |  | $ | 17,698 |
Non-marketable equity investments (2) | 5,652 |  |  | 5,652 |  |  | — |  |  | — |
Consumer loans receivable (3) | 98,284 |  |  | 131,384 |  |  | 110,990 |  |  | 115,044 |
Interest rate lock commitment derivatives (4) | (14 | ) |  | (14 | ) |  | 28 |  |  | 28 |
Forward loan sale commitment derivatives (4) | 24 |  |  | 24 |  |  | (3 | ) |  | (3 | )
Inventory finance receivable (5) | 21,308 |  |  | 21,308 |  |  | 22,950 |  |  | 22,950 |
Securitized financings (6) | 70,052 |  |  | 74,574 |  |  | 82,287 |  |  | 90,895 |
Mortgage servicing rights (7) | 350 |  |  | 350 |  |  | 335 |  |  | 335 |
Summary of Assets Measured at Fair Value on a Recurring Basis | Financial instruments measured at fair value on a recurring basis are summarized below (in thousands):
| March 29, 2014
| Total |  | Level 1 |  | Level 2 |  | Level 3
Securities issued by the U.S Treasury and Government (1) | $ | 2,273 |  |  | $ | — |  |  | $ | 2,273 |  |  | $ | — |
Mortgage-backed securities (1) | 3,618 |  |  | — |  |  | 3,618 |  |  | — |
Securities issued by states and political subdivisions (1) | 6,065 |  |  | — |  |  | 6,065 |  |  | — |
Corporate debt securities (1) | 1,574 |  |  | — |  |  | 1,574 |  |  | — |
Marketable equity securities (1) | 5,222 |  |  | 5,222 |  |  | — |  |  | — |
Interest rate lock commitment derivatives (2) | (14 | ) |  | — |  |  | — |  |  | (14 | )
Forward loan sale commitment derivatives (2) | 24 |  |  | — |  |  | — |  |  | 24 |
Mortgage servicing rights (3) | 350 |  |  | — |  |  | — |  |  | 350 |
(1) | Unrealized gains or losses on investments are recorded in accumulated other comprehensive income (loss) at each measurement date.
(2) | Gains or losses on derivatives are recognized in current period earnings through cost of sales.
(3) | Changes in the fair value of mortgage servicing rights are recognized in current period earnings through net revenue.
Summary of Assets and Liabilities Measured at Fair Value for Disclosure | Financial instruments for which fair value is disclosed but not required to be recognized in the balance sheet on a recurring basis are summarized below (in thousands):
| March 29, 2014
| Total |  | Level 1 |  | Level 2 |  | Level 3
Loans held for investment | $ | 121,876 |  |  | $ | — |  |  | $ | — |  |  | $ | 121,876 |
Loans held for sale | 7,105 |  |  | — |  |  | 7,105 |  |  | — |
Loans held—construction advances | 2,403 |  |  | — |  |  | — |  |  | 2,403 |
Inventory finance receivable | 21,308 |  |  | — |  |  | — |  |  | 21,308 |
Securitized financings | 74,574 |  |  | — |  |  | 74,574 |  |  | — |
Non-marketable equity investments | 5,652 |  |  | — |  |  | — |  |  | 5,652 |
Activity in Capitalized Mortgage Servicing Rights |
| March 29, 2014 |  | March 30, 2013
Number of loans serviced with MSRs | 2,743 |  |  | 2,106 |
Weighted average servicing fee (basis points) | 30.54 |  |  | 34.59 |
Capitalized servicing multiple | 35.77 | % |  | 38.82 | %
Capitalized servicing rate (basis points) | 10.93 |  |  | 13.43 |
Serviced portfolio with MSRs (in thousands) | $ | 320,462 |  |  | $ | 249,378 |
Mortgage servicing rights (in thousands) | $ | 350 |  |  | $ | 335 |

X
- Definition Fair value assets and liabilities measured on recurring basis. + References No definition available. + Details
Name: | cvco_FairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | cvco_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a),(b) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13433-108611 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13476-108611 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the activity in the balance of servicing assets (including a description of where changes in fair value are reported in the statement of income for each period for which results of operations are presented), including but not limited to, the following: beginning and ending balances, additions (for instance, through purchases of servicing assets), disposals, changes in fair value during the period resulting from changes in inputs or assumptions used in the valuation model, other changes in fair value along with a description of those changes, and other changes that affect the balance along with a description of those changes. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=7882072&loc=d3e122625-111746 + Details
Name: | us-gaap_ScheduleOfServicingAssetsAtFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration