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v3.25.1

Segment Information | 12 Months Ended
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Mar. 29, 2025
Segment Reporting [Abstract] |
Segment Information | 16. Segment Information Financial results for the Company's reportable segments have been prepared using a management approach, which is consistent with the basis and manner in which financial information is evaluated by the Company's chief operating decision maker in allocating resources and in assessing performance. The Company’s chief operating decision maker, the Chief Executive Officer, evaluates the performance of the Company’s segments and allocates resources based on net sales, before elimination of inter-company shipments and earnings before interest, taxes, depreciation and amortization (“EBITDA”). The Company operates in two reportable segments: (i) U.S. Factory-built Housing, which includes manufacturing and retail housing operations and (ii) Canadian Factory-built Housing. Corporate/Other includes the Company’s transportation operations, the Company's financing activities, corporate costs directly incurred for all segments and intersegment eliminations. Segments are generally determined by geography. Segment data includes intersegment revenues and corporate office costs that are directly and exclusively incurred for each segment. Total assets for Corporate/Other primarily include cash and certain deferred tax items not specifically allocated to another segment. Beginning in fiscal 2025, the Company adopted ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures". Selected financial information by reportable segment was as follows:
|  | Year Ended March 29, 2025 |
(Dollars in thousands) |  | U.S. Factory-built Housing |  |  | Canadian Factory-built Housing |  |  | Corporate/Other |  |  | Consolidated |
Net sales |  | $ | 2,357,916 |  |  | $ | 94,172 |  |  | $ | 31,360 |  |  | $ | 2,483,448 |
Cost of sales(1) |  |  | (1,716,443 | ) |  |  | (68,696 | ) |  |  | (8,475 | ) |  |  |
Selling, general, and administrative expenses(2) |  |  | (311,660 | ) |  |  | (10,786 | ) |  |  | (88,446 | ) |  |  |
Other items(3) |  |  | — |  |  |  | — |  |  |  | (1,869 | ) |  |  |
Segment EBITDA |  | $ | 329,813 |  |  | $ | 14,690 |  |  | $ | (67,430 | ) |  |  |
U.S. Factory-built Housing EBITDA |  |  |  |  |  |  |  |  |  |  | $ | 329,813 |
Canadian Factory-built Housing EBITDA |  |  |  |  |  |  |  |  |  |  |  | 14,690 |
Corporate/Other EBITDA |  |  |  |  |  |  |  |  |  |  |  | (67,430 | )
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  | (41,910 | )
Interest income, net |  |  |  |  |  |  |  |  |  |  |  | 16,974 |
Equity in net loss of affiliate |  |  |  |  |  |  |  |  |  |  |  | 2,004 |
Net income attributable to non-controlling interest |  |  |  |  |  |  |  |  |  |  |  | 3,227 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 257,368 |
Depreciation |  | $ | 27,857 |  |  | $ | 1,780 |  |  | $ | 616 |  |  | $ | 30,253 |
Amortization |  | $ | 11,657 |  |  | $ | — |  |  | $ | — |  |  | $ | 11,657 |
Expenditure for segment assets |  | $ | 44,824 |  |  | $ | 2,087 |  |  | $ | 3,621 |  |  | $ | 50,532 |
Segment assets(4) |  | $ | 1,275,488 |  |  | $ | 140,230 |  |  | $ | 694,690 |  |  | $ | 2,110,408 |
(1) Cost of sales is presented net of depreciation expense. (2) Selling, general, and administrative expenses are presented net of depreciation and amortization expense. (3) Other items for Corporate/Other include dividend income, and equity in net loss of affiliates, and non-controlling interest. (4) Deferred tax assets for the Canadian operations are reflected in the Canadian Factory-built Housing segment. U.S. deferred tax assets are presented in Corporate/Other because an allocation between segments is not practicable.
|  | Year Ended March 30, 2024 |
(Dollars in thousands) |  | U.S. Factory-built Housing |  |  | Canadian Factory-built Housing |  |  | Corporate/Other |  |  | Consolidated |
Net sales |  | $ | 1,885,507 |  |  | $ | 109,089 |  |  | $ | 30,227 |  |  | $ | 2,024,823 |
Cost of sales(1) |  |  | (1,425,962 | ) |  |  | (77,176 | ) |  |  | (15,074 | ) |  |  |
Selling, general, and administrative expenses(2) |  |  | (218,923 | ) |  |  | (10,545 | ) |  |  | (67,028 | ) |  |  |
Other items(3) |  |  | — |  |  |  | — |  |  |  | (9,627 | ) |  |  |
Segment EBITDA |  | $ | 240,622 |  |  | $ | 21,368 |  |  | $ | (61,502 | ) |  |  |
U.S. Factory-built Housing EBITDA |  |  |  |  |  |  |  |  |  |  | $ | 240,622 |
Canadian Factory-built Housing EBITDA |  |  |  |  |  |  |  |  |  |  |  | 21,368 |
Corporate/Other EBITDA |  |  |  |  |  |  |  |  |  |  |  | (61,502 | )
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  | (34,910 | )
Interest income, net |  |  |  |  |  |  |  |  |  |  |  | 28,254 |
Equity in net loss of affiliate |  |  |  |  |  |  |  |  |  |  |  | 7,023 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 200,855 |
Depreciation |  | $ | 22,041 |  |  | $ | 1,482 |  |  | $ | 613 |  |  | $ | 24,136 |
Amortization |  | $ | 10,774 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,774 |
Expenditure for segment assets |  | $ | 47,856 |  |  | $ | 3,553 |  |  | $ | 1,506 |  |  | $ | 52,915 |
Segment assets(4) |  | $ | 1,239,338 |  |  | $ | 132,420 |  |  | $ | 551,583 |  |  | $ | 1,923,341 |
(1) Cost of sales is presented net of depreciation expense. (2) Selling, general, and administrative expenses are presented net of depreciation and amortization expense. (3) Other items for Corporate/Other include acquisition costs, dividend income, and equity in net loss of affiliates. (4) Deferred tax assets for the Canadian operations are reflected in the Canadian Factory-built Housing segment. U.S. deferred tax assets are presented in Corporate/Other because an allocation between segments is not practicable.
|  | Year Ended April 1, 2023 |
(Dollars in thousands) |  | U.S. Factory-built Housing |  |  | Canadian Factory-built Housing |  |  | Corporate/Other |  |  | Consolidated |
Net sales |  | $ | 2,411,342 |  |  | $ | 144,289 |  |  | $ | 50,929 |  |  | $ | 2,606,560 |
Cost of sales(1) |  |  | (1,641,120 | ) |  |  | (98,457 | ) |  |  | (34,409 | ) |  |  |
Selling, general, and administrative expenses(2) |  |  | (211,234 | ) |  |  | (12,895 | ) |  |  | (63,434 | ) |  |  |
Other items(3) |  |  | — |  |  |  | — |  |  |  | 634 |  |  |  |
Segment EBITDA |  | $ | 558,988 |  |  | $ | 32,937 |  |  | $ | (46,280 | ) |  |  |
U.S. Factory-built Housing EBITDA |  |  |  |  |  |  |  |  |  |  | $ | 558,988 |
Canadian Factory-built Housing EBITDA |  |  |  |  |  |  |  |  |  |  |  | 32,937 |
Corporate/Other EBITDA |  |  |  |  |  |  |  |  |  |  |  | (46,280 | )
Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |  | (26,726 | )
Interest income, net |  |  |  |  |  |  |  |  |  |  |  | 14,977 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  | $ | 533,896 |
Depreciation |  | $ | 13,624 |  |  | $ | 1,228 |  |  | $ | 1,233 |  |  | $ | 16,085 |
Amortization |  | $ | 10,641 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,641 |
Expenditure for segment assets |  | $ | 47,328 |  |  | $ | 4,189 |  |  | $ | 727 |  |  | $ | 52,244 |
Segment assets(4) |  | $ | 708,573 |  |  | $ | 124,673 |  |  | $ | 729,478 |  |  | $ | 1,562,724 |
(1) Cost of sales is presented net of depreciation expense. (2) Selling, general, and administrative expenses are presented net of depreciation and amortization expense. (3) Other items for Corporate/Other include transaction costs and other income. (4) Deferred tax assets for the Canadian operations are reflected in the Canadian Factory-built Housing segment. U.S. deferred tax assets are presented in Corporate/Other because an allocation between segments is not practicable.

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- Definition The entire disclosure for reporting segments including data and tables. 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