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Commercial Loans Receivables (Tables) | 12 Months Ended
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Mar. 30, 2024
Receivables [Abstract] |
Schedule of Accounts, Notes, Loans and Financing Receivable | The following table summarizes consumer loans receivable (in thousands):
| March 30, 2024 |  | April 1, 2023
Loans held for investment, previously securitized | $ | 16,968 |  |  | $ | 21,000 |
Loans held for investment | 12,826 |  |  | 13,117 |
Loans held for sale | 15,140 |  |  | 10,846 |
Construction advances | 722 |  |  | 706 |
| 45,656 |  |  | 45,669 |
Deferred financing fees and other, net | (523) |  |  | (368) |
Allowance for loan losses | (1,066) |  |  | (1,153) |
| 44,067 |  |  | 44,148 |
Less current portion | (20,713) |  |  | (17,019) |
| $ | 23,354 |  |  | $ | 27,129 |
Commercial loans receivable, net consisted of the following (in thousands):
| March 30, 2024 |  | April 1, 2023
Loans receivable (including from affiliates) | $ | 91,938 |  |  | $ | 103,726 |
Allowance for loan losses | (781) |  |  | (1,586) |
Deferred financing fees, net | (116) |  |  | (163) |
| 91,041 |  |  | 101,977 |
Less current portion of commercial loans receivable (including from affiliates), net | (43,316) |  |  | (44,054) |
| $ | 47,725 |  |  | $ | 57,923 |
Commercial Loans Receivable Characteristics | The commercial loans receivable balance had the following characteristics:
| March 30, 2024 |  | April 1, 2023
Weighted average contractual interest rate | 7.4 | % |  | 7.6 | %
Weighted average months outstanding | 12 |  | 9
Changes in the Allowance for Loan Losses on Commercial Loans Receivables | The following table represents changes in the estimated allowance for loan losses, including related additions and deductions to the allowance for loan losses (in thousands):
| March 30, 2024 |  | April 1, 2023
Balance at beginning of fiscal year | $ | 1,586 |  |  | $ | 1,011 |
Change in estimated loan losses, net | (805) |  |  | 575 |
Balance at end of fiscal year | $ | 781 |  |  | $ | 1,586 |
Commercial Loans Receivables by Class and Internal Credit Quality Indicator | The following table disaggregates gross consumer loans receivable by credit quality indicator at loan inception and fiscal year of origination (in thousands):
| March 30, 2024
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Total
Prime- FICO score 680 and greater | $ | 14,107 |  |  | $ | 328 |  |  | $ | 96 |  |  | $ | 885 |  |  | $ | 1,808 |  |  | $ | 14,425 |  |  | $ | 31,649 |
Near Prime- FICO score 620-679 | 1,633 |  |  | — |  |  | — |  |  | 1,202 |  |  | 942 |  |  | 8,684 |  |  | 12,461 |
Sub-Prime- FICO score less than 620 | — |  |  | — |  |  | — |  |  | 18 |  |  | 49 |  |  | 723 |  |  | 790 |
No FICO score | 447 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 309 |  |  | 756 |
| $ | 16,187 |  |  | $ | 328 |  |  | $ | 96 |  |  | $ | 2,105 |  |  | $ | 2,799 |  |  | $ | 24,141 |  |  | $ | 45,656 |
| April 1, 2023
| 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Total
Prime- FICO score 680 and greater | $ | 9,471 |  |  | $ | 185 |  |  | $ | 1,051 |  |  | $ | 1,982 |  |  | $ | 1,191 |  |  | $ | 16,601 |  |  | $ | 30,481 |
Near Prime- FICO score 620-679 | 1,695 |  |  | — |  |  | 1,012 |  |  | 1,131 |  |  | 1,550 |  |  | 8,244 |  |  | 13,632 |
Sub-Prime- FICO score less than 620 | 84 |  |  | — |  |  | 19 |  |  | 51 |  |  | — |  |  | 1,033 |  |  | 1,187 |
No FICO score | — |  |  | — |  |  | — |  |  | — |  |  | 24 |  |  | 345 |  |  | 369 |
| $ | 11,250 |  |  | $ | 185 |  |  | $ | 2,082 |  |  | $ | 3,164 |  |  | $ | 2,765 |  |  | $ | 26,223 |  |  | $ | 45,669 |
The following table disaggregates our commercial loans receivable by credit quality indicator and fiscal year of origination (in thousands):
| March 30, 2024 |  |  |
|  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Total |  |  |  |
Performing |  | $ | 57,691 |  |  | $ | 25,066 |  |  | $ | 4,823 |  |  | $ | 2,144 |  |  | $ | 2,214 |  |  | $ | 91,938 |  |  |  |  |
| April 1, 2023 |  |  |
|  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Total |  |  |  |
Performing |  | $ | 80,193 |  |  | $ | 16,028 |  |  | $ | 4,071 |  |  | $ | 2,203 |  |  | $ | 1,231 |  |  | $ | 103,726 |  |  |  |  |

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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-29 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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- Definition Tabular disclosure of allowance for credit loss of financing receivable, classified as noncurrent. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-11B Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
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