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Debt and Finance Lease Obligations | 12 Months Ended
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Mar. 28, 2020
Debt Disclosure [Abstract] |
Debt and Finance Lease Obligations | Debt and Finance Lease Obligations Debt and finance lease obligations primarily consisted of amounts related to loans sold that did not qualify for loan sale accounting treatment and lease obligations in which it is expected that the Company will obtain ownership of a leased asset at the end of the lease term. The following table summarizes debt and finance lease obligations (in thousands):
| March 28, 2020 |  | March 30, 2019
2007-1 securitized financings (acquired as part of the Palm Harbor transaction) | $ | — |  |  | $ | 18,364 |
Secured credit facilities | 10,474 |  |  | 11,289 |
Other secured financings | 4,113 |  |  | 4,487 |
Finance lease liabilities | 366 |  |  | — |
| $ | 14,953 |  |  | $ | 34,140 |
Prior to the Company's acquisition of Palm Harbor and CountryPlace, CountryPlace completed an initial securitization (2005-1) and a second securitized borrowing (2007-1). The Company repurchased these loan portfolios in January 2019 and August 2019, respectively, eliminating the related securitized financings. Acquired securitized financings were recorded at fair value at the time of acquisition, which resulted in a discount, and subsequently are accounted for in a manner similar to ASC 310-30 to accrete the discount. The following table summarizes acquired securitized financings (in thousands):
| March 28, 2020 |  | March 30, 2019
Securitized financings – contractual amount | $ | — |  |  | $ | 18,855 |
Purchase Discount |  |  |
Accretable | — |  |  | (491 | )
Non-accretable (1) | — |  |  | — |
Total acquired securitized financings, net | $ | — |  |  | $ | 18,364 |
(1) There is no non-accretable difference, as the contractual payments on acquired securitized financings were determined by the cash collections from the underlying loans. Over the life of the loans, the Company estimated the cash flows expected to be paid on securitized financings. The Company evaluated at each balance sheet date whether the present value of its securitized financings, determined using the effective interest rate, had increased or decreased. The present value of any subsequent change in cash flows expected to be paid adjusted the amount of accretable yield recognized on a prospective basis over the securitized financings remaining life. The changes in accretable yield on securitized financings were as follows (in thousands):
| Year Ended
| March 28, 2020 |  | March 30, 2019
Balance at the beginning of the period | $ | 491 |  |  | $ | 3,515 |
Additions |  |  |  | — |
Accretion | (577 | ) |  | (2,830 | )
Adjustment to cash flows | 86 |  |  | (194 | )
Balance at the end of the period | $ | — |  |  | $ | 491 |
The Company's finance subsidiary has entered into secured credit facilities with independent third-party banks with draw periods from one to fifteen months and maturity dates of ten years after the expiration of the draw periods, which have now expired. The proceeds are used by the Company to originate and hold consumer home-only loans secured by manufactured homes, which are pledged as collateral to the facilities. Upon completion of the draw down periods, the facilities were converted into an amortizing loan based on a 20-year amortization period with a balloon payment due upon maturity. The maximum advance for loans under this program is 80% of the outstanding collateral principal balance, with the Company providing the remaining funds. As of March 28, 2020, the outstanding balance of the converted loans was $10.5 million at a weighted average interest rate of 4.9%. Scheduled maturities for future fiscal years of the Company's debt obligations consist of the following (in thousands):
2021 | $ | 2,233 |
2022 | 1,745 |
2023 | 1,542 |
2024 | 1,361 |
2025 | 1,240 |
Thereafter | 6,832 |
Actual payments may vary from those above, resulting from prepayments or other factors. See Note 9 for further discussion of the finance lease obligations.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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