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Commitments and Contingencies | 9 Months Ended
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Dec. 26, 2020
Commitments and Contingencies [Abstract] |
Commitments and Contingencies | NOTE 10 – COMMITMENTS AND CONTINGENCIES Payments due by period under long-term debt, other financing instruments and commitments are as follows:
|  |  |  |  | Within |  | 2 to |  | 4 to |  | After
|  | Total |  | 1 Year |  | 3 Years |  | 5 Years |  | 5 Years
|  | (Dollars in thousands)
Principal payments on long-term debt |  | $ | 190,000 |  |  | — |  |  | — |  | $ | 190,000 |  |  | —
Finance lease commitments/financing obligations (a) |  |  | 525,740 |  | $ | 55,001 |  | $ | 109,489 |  |  | 101,296 |  | $ | 259,954
Operating lease commitments (a) |  |  | 244,508 |  |  | 36,396 |  |  | 66,097 |  |  | 54,180 |  |  | 87,835
Accrued rent |  |  | 2,664 |  |  | 2,492 |  |  | 141 |  |  | 14 |  |  | 17
Other liabilities |  |  | 1,333 |  |  | 800 |  |  | 533 |  |  | — |  |  | —
Total |  | $ | 964,245 |  | $ | 94,689 |  | $ | 176,260 |  | $ | 345,490 |  | $ | 347,806
_______________ (a)Finance and operating lease commitments represent future undiscounted lease payments and include $112.6 million and $59.4 million, respectively, related to options to extend lease terms that are reasonably certain of being exercised. During fiscal 2021, we negotiated rent deferrals for a significant number of our stores, with repayment at later dates, primarily in the fourth quarter of fiscal 2021 and the first and second quarters of fiscal 2022. We began repaying deferred rent primarily in the third quarter of fiscal 2021. These concessions provide a deferral of rent payments with no substantive changes to the original contract. Consistent with updated guidance from the FASB in April 2020, we have elected to treat the rent deferrals as accrued liabilities. The accrued rent reflected in the table above includes $1.6 million related to rent deferrals and $1.1 million due to timing of other lease related expenses. We will continue to recognize expense during the deferral periods. In addition, during fiscal 2021, we negotiated rent reductions with certain landlords on approximately 23% of our lease contracts in exchange for extending our current lease term. As these agreements represent substantive changes to our contractual obligations, the leases were remeasured. As a result, during fiscal 2021, finance lease and financing obligation assets, net and finance leases and financing obligations were increased by $67.5 million and $63.8 million, respectively, and operating lease assets, net and operating lease liabilities were increased by $16.4 million and $20.1 million, respectively. The negotiated terms were generally consistent with terms of normal renewal agreements. As of the date of this report, there were no material changes to our contingencies since March 28, 2020, as reported in our Form 10-K for the fiscal year ended March 28, 2020.

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- Definition The entire disclosure for legal proceedings, legal contingencies, litigation, regulatory and environmental matters and other contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 + Details
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