Leases

12 Months Ended

Apr. 03, 2021

10. Leases

The Company has operating leases for land, manufacturing and office facilities, and equipment. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such option. The Company's leases do not contain material residual value guarantees or material restrictive covenants. Operating lease expense is recognized on a straight-line basis over the lease terms. Lease expense included in the accompanying condensed consolidated statement of operations is shown below:

(Dollars in thousands)	April 3, 2021		March 28, 2020
Operating lease expense	$	5,387	$	5,884
Short-term lease expense		1,925		1,378
Total lease expense	$	7,312	$	7,262

Operating lease assets and obligations included in the accompanying condensed consolidated balance sheet are shown below:

(Dollars in thousands)	April 3, 2021		March 28, 2020
Right-of-use assets under operating leases:
Other long-term assets	$	11,473	$	14,808
Lease obligations under operating leases:
Other current liabilities		4,250		4,789
Other long-term liabilities		7,223		10,019
Total lease obligation	$	11,473	$	14,808

Maturities of lease obligations as of April 3, 2021 are shown below:

(Dollars in thousands)	April 3, 2021
Fiscal 2022	$	4,732
Fiscal 2023		3,787
Fiscal 2024		1,823
Fiscal 2025		1,133
Fiscal 2026		440
Thereafter		1,438
Total undiscounted cash flows		13,353
Less: imputed interest		(1,880	)
Lease obligations under operating leases	$	11,473

The weighted average lease term and discount rate for operating leases are shown below:

April 3,

2021

Weighted average remaining lease term (in years)

4.6

Weighted average discount rate (as a percent)

5.6

Other information related to leases is as follows:

(Dollars in thousands)	Year Ended April 3, 2021		Year Ended March 28, 2020
Non-cash activity:
Right-of-use assets obtained in exchange for operating lease obligations	$	1,469	$	6,177
Operating cash flows:
Cash paid related to operating lease obligations	$	5,624	$	5,811