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Acquisitions (Tables) | 12 Months Ended
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Mar. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Acquisitions | The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands).
| January 3, 2023
| (as finalized)
Cash | $ | 5,041 |
Investments | 334 |
Accounts receivable | 2,749 |
Inventories | 57,902 |
Property, plant and equipment | 36,006 |
Other current assets | 1,579 |
Intangible assets(1) | 3,400 |
Total identifiable assets acquired | 107,011 |
Accounts payable and accrued liabilities | 11,335 |
Net identifiable assets acquired | 95,676 |
Goodwill(2) | 15,107 |
Net assets acquired | $ | 110,783 |
(1) Includes $1.3 million assigned to trade names, which are considered indefinite lived intangible assets and are not subject to amortization, $1.9 million assigned to customer-related intangibles, subject to a useful life of 10 years amortized on a straight-line basis, and $0.2 million for covenants not to compete from the sellers, amortized on a straight-line basis over the term of 5 years. (2) Attributable to the Factory-built housing segment, all of which will be deductible for income tax purposes. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date (in thousands).
| September 24, 2021
| (as finalized)
Cash | $ | 619 |
Accounts receivable | 20,930 |
Commercial loans | 30,922 |
Inventories | 31,787 |
Property, plant and equipment(1) | 59,339 |
Other current assets | 534 |
Intangible assets(2) | 12,500 |
Total identifiable assets acquired | 156,631 |
Accounts payable and accrued liabilities | 31,536 |
Net identifiable assets acquired | 125,095 |
Goodwill(3) | 20,892 |
Net assets acquired | $ | 145,987 |
(1) Includes assets acquired under finance leases. (2) Includes $7.2 million assigned to customer-related intangibles, subject to a useful life of 11 years amortized on a straight-line basis; $3.8 million assigned to trademarks and trade names, which are considered indefinite lived intangible assets and are not subject to amortization; $1.0 million for acquired sales order backlogs that will be amortized over the period to produce the associated backlog; and $0.5 million for a covenant not to compete from the sellers, amortized on a straight-line basis over the term of 5 years. (3) Attributable to the Factory-built housing segment, all of which will be deductible for income tax purposes.
Pro Forma Impact of Acquisitions | Pro Forma Impact of Acquisitions (Unaudited). The following table presents supplemental pro forma information as if the above acquisitions had occurred on April 4, 2021 (in thousands, except per share data):
| Year Ended
| April 1, 2023 |  | April 2, 2022
Net revenue | $ | 2,251,233 |  |  | $ | 1,914,866 |
Net income attributable to Cavco common stockholders | 251,903 |  |  | 208,149 |
Diluted net income per share | 28.23 |  |  | 22.47 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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