Income Taxes (Tables)

12 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Provision (benefit) for income taxes

The provision for income taxes for fiscal years 2018, 2017 and 2016 were as follows (in thousands):

	Fiscal Year
	2018			2017			2016
Current
Federal	$	19,008		$	15,924		$	15,070
State	2,323			1,131			1,350
Total current	21,331			17,055			16,420
Deferred
Federal	(4,315		)	(13		)	(987		)
State	5			284			54
Total deferred	(4,310		)	271			(933		)
Total income tax provision	$	17,021		$	17,326		$	15,487

Reconciliations of income taxes

A reconciliation of income taxes computed by applying the expected federal statutory income tax rates of 31.54% for fiscal year 2018 and 35% for fiscal years 2017 and 2016 to income before income taxes reported in the Consolidated Statements of Comprehensive Income is as follows (in thousands):

	Fiscal Year
	2018			2017			2016
Federal income tax at statutory rate	$	24,766		$	19,348		$	15,410
Impact of Tax Act	(4,824		)	—			—
State income taxes, net of federal benefit	2,330			1,428			1,427
Stock-based compensation	(2,121		)	—			—
Domestic production activities deduction	(2,001		)	(1,422		)	(889		)
Tax credits	(1,776		)	(1,826		)	(941		)
Other	647			(202		)	480
Total income tax provision	$	17,021		$	17,326		$	15,487

Net current deferred tax assets and net long-term deferred tax liabilities

Net long-term deferred tax assets and liabilities were as follows (in thousands):

	March 31, 2018			April 1, 2017
Net long-term deferred tax (liabilities) assets
Goodwill	$	(15,637	)	$	(24,847	)
Warranty reserves	4,033			5,784
Loan discount	3,662			6,419
Property, plant, equipment and depreciation	(3,575		)	(4,569		)
Stock-based compensation	2,177			3,054
Salaries and wages	1,741			2,375
Prepaid expenses	(1,585		)	(2,494		)
Other intangibles	(1,581		)	(2,382		)
Inventory	1,196			1,466
Deferred revenue	829			1,374
Policy acquisition costs	(571		)	(1,001		)
Deferred margin	474			1,627
Other	1,260			1,280
	$	(7,577	)	$	(11,914	)