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Income Taxes (Tables)

12 Months Ended

Apr. 03, 2021

Income Tax Disclosure [Abstract]

Schedule of Pretax Income (Loss)

Pretax income (loss) for the fiscal years ended April 3, 2021, March 28, 2020, and March 30, 2019 was attributable to the following tax jurisdictions:

		Year Ended
(Dollars in thousands)		April 3, 2021				March 28, 2020				March 30, 2019
Domestic		$	92,832			$	76,224			$	(50,891	)
Foreign			18,568				8,830				9,588
Income (loss) before income taxes		$	111,400			$	85,054			$	(41,303	)

Schedule of Income Tax Provision by Jurisdiction

The income tax provision by jurisdiction for the fiscal years ended April 3, 2021, March 28, 2020, and March 30, 2019 was as follows:

		Year Ended
(Dollars in thousands)		April 3, 2021				March 28, 2020				March 30, 2019
Current:
U.S. federal		$	13,094			$	9,360			$	9,353
Foreign			4,738				1,938				1,452
State			5,081				3,800				3,053
Total current		$	22,913			$	15,098			$	13,858
Deferred
U.S. federal		$	2,853			$	5,660			$	1,854
Foreign			851				5,214				987
State			(116	)			922				206
Total deferred		$	3,588			$	11,796			$	3,047
Total income tax expense		$	26,501			$	26,894			$	16,905

Schedule of Income Tax Expense

Income tax expense differs from the amount of income tax determined by applying the applicable U.S. statutory federal income tax rate to income before income taxes as a result of the following differences:

		Year Ended
(Dollars in thousands)		April 3, 2021				March 28, 2020				March 30, 2019
Tax expense (benefit) at U.S federal statutory rate		$	23,394			$	17,861			$	(8,674	)
Increase (decrease) in rate resulting from:
State taxes, net of U.S. federal benefit		$	3,969			$	4,491			$	2,412
Change in deferred tax valuation allowance			1,343				3,652				(986	)
Foreign tax rate differences			900				502				579
Recognition of foreign investment basis difference			616				25				247
Non-deductible compensation due to Section 162(m)			586				1,007				2,760
Other permanent difference			265				844				531
Non-deductible equity-based compensation			—				—				17,545
Transaction costs related to the Exchange			—				—				2,051
Uncertain tax positions			—				(643	)			(590	)
Deferred tax rate changes			(778	)			538				928
U.S. tax credits			(3,096	)			(1,005	)			(445	)
Other			(698	)			(378	)			547
Total income tax expense		$	26,501			$	26,894			$	16,905

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities at April 3, 2021 and March 28, 2020 consisted of the following:

(Dollars in thousands)		April 3, 2021				March 28, 2020
ASSETS
Intangible assets		$	10,665			$	9,665
Employee compensation			7,500				5,665
Warranty reserves			7,041				6,175
Foreign net operating loss carryforwards			6,250				5,400
U.S. federal net operating loss carryforwards			4,583				9,368
Self-insurance reserves			4,058				3,806
Lease assets			2,879				3,684
State net operating loss carryforwards			2,372				2,793
U.S. tax credit carryforwards			2,030				2,030
Dealer volume discounts			1,631				1,216
Inventory reserves and impairments			1,558				1,656
Equity-based compensation			1,333				1,156
Capitalized transaction costs			377				456
Foreign capital loss carryforwards			187				168
Outside basis difference in domestic partnership investment			-				2,229
Foreign currency translation adjustments			-				67
Other			1,282				1,130
Gross deferred tax assets		$	53,746			$	56,664
LIABILITIES
Intangible assets		$	9,470			$	10,711
Property, plant, and equipment			8,213				8,411
Foreign tax basis difference in investments			4,280				3,264
Lease liabilities			2,879				3,684
Other			718				837
Gross deferred tax liabilities		$	25,560			$	26,907
Valuation allowance			(12,552	)			(11,209	)
Net deferred tax assets		$	15,634			$	18,548

Schedule of Changes in Unrecognized Tax Benefits

The following table provides the changes in unrecognized tax benefits for fiscal 2021 and 2020:

(Dollars in thousands)		April 3, 2021				March 28, 2020
Unrecognized tax benefits, beginning of period		$	—			$	643
Increase related to tax positions taken during a prior period			—				—
Reductions as a result of a lapse of the applicable statute of limitations			—				(643	)
Unrecognized tax benefits, end of period		$	—			$	—

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