Debt Obligations (Tables)

9 Months Ended

Dec. 26, 2015

Debt obligations consist of amounts related to loans sold that did not qualify for loan sale accounting treatment. The following table summarizes debt obligations (in thousands):



	December 26, 2015		March 28, 2015
Acquired securitized financings (acquired as part of the Palm Harbor transaction)
Securitized financing 2005-1	$	27,893	$	29,469
Securitized financing 2007-1	29,867		33,461
Other secured financings	4,720		4,030
Total securitized financings and other, net	$	62,480	$	66,960

Acquired Securitized Financings

The following table summarizes acquired securitized financings (in thousands):



	December 26, 2015			March 28, 2015
Securitized financings – contractual amount	$	70,727		$	75,058
Purchase discount
Accretable	(12,967		)	(12,128		)
Non-accretable (1)	—			—
Total acquired securitized financings, net	$	57,760		$	62,930

(1) There is no non-accretable difference, as the contractual payments on acquired securitized financing are determined by the cash collections from the underlying loans.

Accretable Yield Movement on Acquired Securitized Financings

The changes in accretable yield on securitized financings were as follows (in thousands):



	Three Months Ended						Nine Months Ended
	December 26, 2015			December 27, 2014			December 26, 2015			December 27, 2014
Balance at the beginning of the period	$	13,993		$	15,142		$	12,128		$	15,199
Accretion	(1,022		)	(944		)	(2,575		)	(3,039		)
Adjustment to cash flows	(4		)	(51		)	3,414			1,987
Balance at the end of the period	$	12,967		$	14,147		$	12,967		$	14,147