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Stockholders' Equity and Redeemable Noncontrolling Interest | 9 Months Ended
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Dec. 30, 2023
Stockholders' Equity Note [Abstract] |
Stockholders' Equity and Redeemable Noncontrolling Interest | Stockholders' Equity and Redeemable Noncontrolling Interest The following table represents changes in stockholders' equity attributable to Cavco's stockholders and redeemable noncontrolling interest during the nine months ended December 30, 2023 (dollars in thousands):
| Equity Attributable to Cavco Stockholders |  |  |
|  |  |  |  | Treasury stock |  | Additional paid-in capital |  | Retained earnings |  | Accumulated other comprehensive income (loss) |  | Total |  |  | Redeemable noncontrolling interest
| Common Stock |  |  |  |  |  |  |
| Shares |  | Amount |  |  |  |  |  |  |
Balance, April 1, 2023 | 9,337,125 |  |  | $ | 93 |  |  | $ | (164,452) |  |  | $ | 271,950 |  |  | $ | 869,310 |  |  | $ | (615) |  |  | $ | 976,286 |  |  |  | $ | 1,219 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 46,357 |  |  | — |  |  | 46,357 |  |  |  | 54 |
Other comprehensive loss, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (42) |  |  | (42) |  |  |  | — |
Issuance of common stock under stock incentive plans, net | 10,095 |  |  | — |  |  | — |  |  | (1,213) |  |  | — |  |  | — |  |  | (1,213) |  |  |  | — |
Stock-based compensation | — |  |  | — |  |  | — |  |  | 1,438 |  |  | — |  |  | — |  |  | 1,438 |  |  |  | — |
Distributions | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | (120) |
Valuation adjustment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | (33) |
Balance, July 1, 2023 | 9,347,220 |  |  | 93 |  |  | (164,452) |  |  | 272,175 |  |  | 915,667 |  |  | (657) |  |  | 1,022,826 |  |  |  | 1,120 |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 41,539 |  |  | — |  |  | 41,539 |  |  |  | 34 |
Other comprehensive income, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 54 |  |  | 54 |  |  |  | — |
Issuance of common stock under stock incentive plans, net | 9,201 |  |  | 1 |  |  | — |  |  | 478 |  |  | — |  |  | — |  |  | 479 |  |  |  | — |
Stock-based compensation | — |  |  | — |  |  | — |  |  | 1,551 |  |  | — |  |  | — |  |  | 1,551 |  |  |  | — |
Common stock repurchases | — |  |  | — |  |  | (47,194) |  |  | — |  |  | — |  |  | — |  |  | (47,194) |  |  |  | — |
Distributions | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | (180) |
Conversion to mandatorily redeemable noncontrolling interest | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | (974) |
Balance, September 30, 2023 | 9,356,421 |  |  | 94 |  |  | (211,646) |  |  | 274,204 |  |  | 957,206 |  |  | (603) |  |  | 1,019,255 |  |  |  | — |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 35,987 |  |  | — |  |  | 35,987 |  |  |  | — |
Other comprehensive income, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 241 |  |  | 241 |  |  |  | — |
Issuance of common stock under stock incentive plans, net | 24,726 |  |  | — |  |  | — |  |  | 1,934 |  |  | — |  |  | — |  |  | 1,934 |  |  |  | — |
Stock-based compensation | — |  |  | — |  |  | — |  |  | 1,709 |  |  | — |  |  | — |  |  | 1,709 |  |  |  | — |
Common stock repurchases | — |  |  | — |  |  | (50,426) |  |  | — |  |  | — |  |  | — |  |  | (50,426) |  |  |  | — |
Balance, December 30, 2023 | 9,381,147 |  |  | $ | 94 |  |  | $ | (262,072) |  |  | $ | 277,847 |  |  | $ | 993,193 |  |  | $ | (362) |  |  | $ | 1,008,700 |  |  |  | $ | — |
The following table represents changes in stockholders' equity attributable to Cavco's stockholders and redeemable noncontrolling interest during the nine months ended December 31, 2022 (dollars in thousands):
| Equity Attributable to Cavco Stockholders |  |  |  |  |  |
|  |  |  |  | Treasury stock |  | Additional paid-in capital |  | Retained earnings |  | Accumulated other comprehensive income (loss) |  | Total |  |  | Redeemable noncontrolling interest |  |  |
| Common Stock |  |  |  |  |  |  |  |  |
| Shares |  | Amount |  |  |  |  |  |  |  |  |
Balance, April 2, 2022 | 9,292,278 |  |  | $ | 93 |  |  | $ | (61,040) |  |  | $ | 263,049 |  |  | $ | 628,756 |  |  | $ | (403) |  |  | $ | 830,455 |  |  |  | $ | 825 |  |  |  |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 59,602 |  |  | — |  |  | 59,602 |  |  |  | 92 |  |  |  |
Other comprehensive loss, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (112) |  |  | (112) |  |  |  | — |  |  |  |
Issuance of common stock under stock incentive plans, net | 5,957 |  |  | — |  |  | — |  |  | (848) |  |  | — |  |  | — |  |  | (848) |  |  |  | — |  |  |  |
Stock-based compensation | — |  |  | — |  |  | — |  |  | 1,425 |  |  | — |  |  | — |  |  | 1,425 |  |  |  | — |  |  |  |
Common stock repurchases | — |  |  | — |  |  | (38,960) |  |  | — |  |  | — |  |  | — |  |  | (38,960) |  |  |  | — |  |  |  |
Distributions | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | (240) |  |  |  |
Balance, July 2, 2022 | 9,298,235 |  |  | 93 |  |  | (100,000) |  |  | 263,626 |  |  | 688,358 |  |  | (515) |  |  | 851,562 |  |  |  | 677 |  |  |  |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 74,116 |  |  | — |  |  | 74,116 |  |  |  | 82 |  |  |  |
Other comprehensive loss, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (303) |  |  | (303) |  |  |  | — |  |  |  |
Issuance of common stock under stock incentive plans, net | 15,917 |  |  | — |  |  | — |  |  | 1,457 |  |  | — |  |  | — |  |  | 1,457 |  |  |  | — |  |  |  |
Stock-based compensation | — |  |  | — |  |  | — |  |  | 2,100 |  |  | — |  |  | — |  |  | 2,100 |  |  |  | — |  |  |  |
Distributions | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | (240) |  |  |  |
Valuation adjustment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | 407 |  |  |  |
Balance, October 1, 2022 | 9,314,152 |  |  | 93 |  |  | (100,000) |  |  | 267,183 |  |  | 762,474 |  |  | (818) |  |  | 928,932 |  |  |  | 926 |  |  |  |
Net income | — |  |  | — |  |  | — |  |  | — |  |  | 59,524 |  |  | — |  |  | 59,524 |  |  |  | 65 |  |  |  |
Other comprehensive income, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 74 |  |  | 74 |  |  |  | — |  |  |  |
Issuance of common stock under stock incentive plans, net | 5,548 |  |  | — |  |  | — |  |  | (90) |  |  | — |  |  | — |  |  | (90) |  |  |  | — |  |  |  |
Stock-based compensation | — |  |  | — |  |  | — |  |  | 1,330 |  |  | — |  |  | — |  |  | 1,330 |  |  |  | — |  |  |  |
Common stock repurchases | — |  |  | — |  |  | (34,270) |  |  | — |  |  | — |  |  | — |  |  | (34,270) |  |  |  | — |  |  |  |
Distributions | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | (120) |  |  |  |
Valuation adjustment | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  | 61 |  |  |  |
Balance, December 31, 2022 | 9,319,700 |  |  | $ | 93 |  |  | $ | (134,270) |  |  | $ | 268,423 |  |  | $ | 821,998 |  |  | $ | (744) |  |  | $ | 955,500 |  |  |  | $ | 932 |  |  |  |

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