XML 22 R104.htm IDEA: XBRL DOCUMENT v2.4.1.9
Fair Value Measurements (Book Value and Estimated Fair Value) (Details) (USD $)
In Thousands, unless otherwise specified
Mar. 28, 2015
Mar. 29, 2014
Summary of the Fair Value and Carrying Value of Financial Instruments    
Mortgage servicing rights $ 475us-gaap_ServicingAssetAtFairValueAmount $ 350us-gaap_ServicingAssetAtFairValueAmount
Book Value [Member]    
Summary of the Fair Value and Carrying Value of Financial Instruments    
Investments 21,283us-gaap_InvestmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[1] 19,802us-gaap_InvestmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[1]
Non-marketable equity investments, Fair Value Disclosure 10,636cvco_NonmarketableequityinvestmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[2] 5,652cvco_NonmarketableequityinvestmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[2]
Consumer loans receivable 98,158us-gaap_NotesReceivableFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[3] 98,284us-gaap_NotesReceivableFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[3]
Interest rate lock commitment derivatives 19cvco_InterestRateLockCommitmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[4] (14)cvco_InterestRateLockCommitmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[4]
Forward loan sale commitment derivatives (54)cvco_ForwardCommitmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[4] 24cvco_ForwardCommitmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[4]
Commercial loans receivable 18,081us-gaap_LoansReceivableFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[5] 21,308us-gaap_LoansReceivableFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[5]
Securitized financings (66,960)us-gaap_DebtInstrumentFairValue
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[6] (70,052)us-gaap_DebtInstrumentFairValue
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[6]
Mortgage servicing rights 475us-gaap_ServicingAssetAtFairValueAmount
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[7] 350us-gaap_ServicingAssetAtFairValueAmount
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[7]
Estimated Fair Value [Member]    
Summary of the Fair Value and Carrying Value of Financial Instruments    
Investments 21,283us-gaap_InvestmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[1] 19,802us-gaap_InvestmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[1]
Non-marketable equity investments, Fair Value Disclosure 10,636cvco_NonmarketableequityinvestmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[2] 5,652cvco_NonmarketableequityinvestmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[2]
Consumer loans receivable 129,616us-gaap_NotesReceivableFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[3] 131,384us-gaap_NotesReceivableFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[3]
Interest rate lock commitment derivatives 19cvco_InterestRateLockCommitmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[4] (14)cvco_InterestRateLockCommitmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[4]
Forward loan sale commitment derivatives (54)cvco_ForwardCommitmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[4] 24cvco_ForwardCommitmentsFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[4]
Commercial loans receivable 18,025us-gaap_LoansReceivableFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[5] 21,308us-gaap_LoansReceivableFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[5]
Securitized financings (67,064)us-gaap_DebtInstrumentFairValue
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[6] (74,574)us-gaap_DebtInstrumentFairValue
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[6]
Mortgage servicing rights $ 475us-gaap_ServicingAssetAtFairValueAmount
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[7] $ 350us-gaap_ServicingAssetAtFairValueAmount
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[7]
[1] The fair value is based on quoted market prices.
[2] The fair value approximates book value based on the non-marketable nature of the instruments.
[3] Includes consumer loans receivable held for investment, held for sale and construction advances. The fair value of the loans held for investment is based on the discounted value of the remaining principal and interest cash flows. The fair value of the loans held for sale are estimated based on recent GSE mortgage backed bond prices. The fair value of the construction advances approximates book value and the sales price of these loans is estimated based on construction completed.
[4] The fair values are based on changes in GSE mortgage backed bond prices, and additionally for IRLCs, pull through rates.
[5] The fair value is estimated using market interest rates of comparable loans.
[6] The fair value is estimated using recent public transactions of similar asset-backed securities.
[7] The fair value of the mortgage servicing rights is based on the present value of expected net cash flows related to servicing these loans.