Fair Value Measurements (Tables)

12 Months Ended

Mar. 29, 2014

Fair Value Disclosures [Abstract]

Summary of the Fair Value and Carrying Value of Financial Instruments

The book value and estimated fair value of the Company’s financial instruments are as follows (in thousands): 

	March 29, 2014						March 30, 2013
	Book Value			Estimated Fair Value			Book Value			Estimated Fair Value
Available-for-sale investment securities (1)	$	19,802		$	19,802		$	17,698		$	17,698
Non-marketable equity investments (2)	5,652			5,652			—			—
Consumer loans receivable (3)	98,284			131,384			110,990			115,044
Interest rate lock commitment derivatives (4)	(14		)	(14		)	28			28
Forward loan sale commitment derivatives (4)	24			24			(3		)	(3		)
Inventory finance receivable (5)	21,308			21,308			22,950			22,950
Securitized financings (6)	70,052			74,574			82,287			90,895
Mortgage servicing rights (7)	350			350			335			335

Summary of Assets Measured at Fair Value on a Recurring Basis

Financial instruments measured at fair value on a recurring basis are summarized below (in thousands):

	March 29, 2014
	Total			Level 1		Level 2		Level 3
Securities issued by the U.S Treasury and Government (1)	$	2,273		$	—	$	2,273	$	—
Mortgage-backed securities (1)	3,618			—		3,618		—
Securities issued by states and political subdivisions (1)	6,065			—		6,065		—
Corporate debt securities (1)	1,574			—		1,574		—
Marketable equity securities (1)	5,222			5,222		—		—
Interest rate lock commitment derivatives (2)	(14		)	—		—		(14		)
Forward loan sale commitment derivatives (2)	24			—		—		24
Mortgage servicing rights (3)	350			—		—		350

(1) Unrealized gains or losses on investments are recorded in accumulated other comprehensive income (loss) at each measurement date.

(2) Gains or losses on derivatives are recognized in current period earnings through cost of sales.

(3) Changes in the fair value of mortgage servicing rights are recognized in current period earnings through net revenue.

Summary of Assets and Liabilities Measured at Fair Value for Disclosure

Financial instruments for which fair value is disclosed but not required to be recognized in the balance sheet on a recurring basis are summarized below (in thousands):

	March 29, 2014
	Total		Level 1		Level 2		Level 3
Loans held for investment	$	121,876	$	—	$	—	$	121,876
Loans held for sale	7,105		—		7,105		—
Loans held—construction advances	2,403		—		—		2,403
Inventory finance receivable	21,308		—		—		21,308
Securitized financings	74,574		—		74,574		—
Non-marketable equity investments	5,652		—		—		5,652

Activity in Capitalized Mortgage Servicing Rights

	March 29, 2014			March 30, 2013
Number of loans serviced with MSRs	2,743			2,106
Weighted average servicing fee (basis points)	30.54			34.59
Capitalized servicing multiple	35.77		%	38.82		%
Capitalized servicing rate (basis points)	10.93			13.43
Serviced portfolio with MSRs (in thousands)	$	320,462		$	249,378
Mortgage servicing rights (in thousands)	$	350		$	335