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Fair Value Measurements (Tables) | 12 Months Ended
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Apr. 02, 2022
Fair Value Disclosures [Abstract] |
Summary of the Fair Value and Carrying Value of Financial Instruments | The book value and estimated fair value of our financial instruments were as follows (in thousands):
| April 2, 2022 |  | April 3, 2021
| Book Value |  | Estimated Fair Value |  | Book Value |  | Estimated Fair Value
Available-for-sale debt securities (1) | $ | 17,760 |  |  | $ | 17,760 |  |  | $ | 14,946 |  |  | $ | 14,946 |
Marketable equity securities (2) | 16,780 |  |  | 16,780 |  |  | 17,600 |  |  | 17,600 |
Non-marketable equity investments (3) | 20,479 |  |  | 20,479 |  |  | 21,960 |  |  | 21,960 |
Consumer loans receivable (4) (5) | 49,884 |  |  | 53,354 |  |  | 74,798 |  |  | 86,209 |
Commercial loans receivable (5) | 68,566 |  |  | 65,942 |  |  | 44,314 |  |  | 42,379 |
Secured credit facilities and other (6) | (11,620) |  |  | (11,806) |  |  | (12,186) |  |  | (12,340) |
(1) Level 2: The fair value is based on observable market prices for identical securities. When observable market prices for identical securities are not available, we price our marketable debt instruments using non-binding market consensus prices that are corroborated with observable market data; quoted market prices for similar instruments; or pricing models, such as a discounted cash flow model, with all significant inputs derived from or corroborated with observable market data. (2) Level 1: The fair value is based on quoted market prices. (3) Level 3: The fair value approximates book value based on the non-marketable nature of the investments. (4) Level 3: Includes consumer loans receivable held for investment, held for sale and construction advances. (5) Level 3: The fair value is estimated using market interest rates of comparable loans. (6) L evel 2: The fair value is based on the discounted value of the expected remaining principal and interest cash flows. Consumer loans held for investment are measured using Level 3 inputs that are calculated using estimated discounted future cash flows from the evaluation of loan credit quality and performance history to determine expected prepayments and defaults on the portfolio, discounted with rates considered to reflect current market conditions. Loans held for sale are measured at the lower of cost or fair value, less costs to sell, using inputs that consist of quoted market prices for mortgage-backed securities or investor purchase commitments for similar types of loan commitments on hand from investors. The cost of loans held for sale was lower than the fair value as of April 2, 2022.
Capitalized Mortgage Servicing Rights |
| April 2, 2022 |  | April 3, 2021
Number of loans serviced with MSRs | 4,346 |  |  | 4,647 |
Weighted average servicing fee (basis points) | 34.76 |  |  | 33.57 |
Capitalized servicing multiple | 85.07 | % |  | 45.93 | %
Capitalized servicing rate (basis points) | 29.57 |  |  | 15.42 |
Serviced portfolio with MSRs (in thousands) | $ | 560,178 |  |  | $ | 593,939 |
MSRs (in thousands) | $ | 1,656 |  |  | $ | 916 |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- 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/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 860 -SubTopic 50 -Section 50 -Paragraph 3 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=128311188&loc=d3e122625-111746 + Details
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