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Leases (Tables) | 12 Months Ended
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Mar. 30, 2024
Leases [Abstract] |
Assets And Liabilities, Lessee | The following table provides information about the financial statement classification of our lease balances reported within the Consolidated Balance Sheets as of March 30, 2024 and April 1, 2023 (in thousands):
| Classification |  | March 30, 2024 |  | April 1, 2023
ROU assets |  |  |  |  |
Operating lease assets | Operating lease right-of-use assets |  | $ | 39,027 |  |  | $ | 26,755 |
Finance lease assets | Property, plant and equipment, net (1) |  | 5,913 |  |  | 6,088 |
Total lease assets |  |  | $ | 44,940 |  |  | $ | 32,843 |
Lease Liabilities |  |  |  |  |
Current: |  |  |  |  |
Operating lease liabilities | Accrued expenses and other current liabilities |  | $ | 5,303 |  |  | $ | 6,262 |
Finance lease liabilities | Accrued expenses and other current liabilities |  | 80 |  |  | 347 |
Non-current: |  |  |  |  |
Operating lease liabilities | Operating lease liabilities |  | 35,148 |  |  | 21,678 |
Finance lease liabilities | Other liabilities |  | 6,086 |  |  | 5,896 |
Total lease liabilities |  |  | $ | 46,617 |  |  | $ | 34,183 |
(1) Recorded net of accumulated amortization of $0.4 million and $0.3 million as of March 30, 2024 and April 1, 2023, respectively.
Lease, Cost | The following table provides information about the financial statement classification of our lease expenses reported within the Consolidated Statements of Comprehensive Income for the years ended March 30, 2024, April 1, 2023 and April 2, 2022 (in thousands):
|  |  | Year Ended
Lease Expense Category | Classification |  | March 30, 2024 |  | April 1, 2023 |  | April 2, 2022
Operating lease expense (2) |  |  |  |  |  |  |
| Cost of sales |  | $ | 1,119 |  |  | $ | 1,190 |  |  | $ | 1,160 |
| Selling, general and administrative expenses |  | 4,693 |  |  | 4,059 |  |  | 3,636 |
Finance lease expense |  |  |  |  |  |  |
Amortization of leased assets | Cost of sales |  | 175 |  |  | 175 |  |  | 109 |
Interest on lease liabilities | Interest expense |  | 279 |  |  | 283 |  |  | 151 |
Total lease expense |  |  | $ | 6,266 |  |  | $ | 5,707 |  |  | $ | 5,056 |
(2) Excludes short-term and variable lease expenses, which are immaterial. Cash payments for operating and finance leases were as follows (in thousands):
| March 30, 2024 |  | April 1, 2023 |  | April 2, 2022
Operating leases | $ | 6,694 |  |  | $ | 5,609 |  |  | $ | 4,794 |
Finance leases | 356 |  |  | 356 |  |  | 220 |
The following table provides information about the weighted average remaining lease terms and weighted average discount rates as of March 30, 2024:
| Remaining Lease Term (Years) |  | Discount Rate
Operating leases | 10.3 |  | 4.9 | %
Finance leases | 33.8 |  | 4.5 | %
Lessee, Operating Lease, Liability, to be Paid, Maturity | The present value of minimum payments for future fiscal years under non-cancelable leases as of March 30, 2024 was as follows (in thousands):
| Operating Leases |  | Finance Leases |  | Total
2025 | $ | 7,074 |  |  | $ | 356 |  |  | $ | 7,430 |
2026 | 7,396 |  |  | 356 |  |  | 7,752 |
2027 | 4,870 |  |  | 356 |  |  | 5,226 |
2028 | 3,979 |  |  | 356 |  |  | 4,335 |
2029 | 3,810 |  |  | 356 |  |  | 4,166 |
Thereafter | 24,305 |  |  | 10,230 |  |  | 34,535 |
| 51,434 |  |  | 12,010 |  |  | 63,444 |
Less: Amount representing interest | (10,983) |  |  | (5,844) |  |  | (16,827) |
| $ | 40,451 |  |  | $ | 6,166 |  |  | $ | 46,617 |
Finance Lease, Liability, to be Paid, Maturity | The present value of minimum payments for future fiscal years under non-cancelable leases as of March 30, 2024 was as follows (in thousands):
| Operating Leases |  | Finance Leases |  | Total
2025 | $ | 7,074 |  |  | $ | 356 |  |  | $ | 7,430 |
2026 | 7,396 |  |  | 356 |  |  | 7,752 |
2027 | 4,870 |  |  | 356 |  |  | 5,226 |
2028 | 3,979 |  |  | 356 |  |  | 4,335 |
2029 | 3,810 |  |  | 356 |  |  | 4,166 |
Thereafter | 24,305 |  |  | 10,230 |  |  | 34,535 |
| 51,434 |  |  | 12,010 |  |  | 63,444 |
Less: Amount representing interest | (10,983) |  |  | (5,844) |  |  | (16,827) |
| $ | 40,451 |  |  | $ | 6,166 |  |  | $ | 46,617 |

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- Definition Tabular disclosure of undiscounted cash flows of finance lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to finance lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4 + Details
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- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147478964/842-20-50-6 + Details
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