Leases (Tables)

12 Months Ended

Apr. 03, 2021

The following table provides information about the financial statement classification of our lease expenses reported within the Consolidated Statement of Comprehensive Income for the years ended April 3, 2021 and March 28, 2020 (in thousands):


		Year Ended
Lease Expense Category	Classification	April 3, 2021		March 28, 2020
Operating lease expense (2)
	Cost of sales	$	1,105	$	834
	Selling, general and administrative expenses	3,327		3,119
Finance lease expense:
Amortization of leased assets	Cost of sales	39		39
Interest on lease liabilities	Interest expense	17		52
Total lease expense		$	4,488	$	4,044

(2) Excludes short-term and variable lease expenses, which are immaterial.

Cash payments for operating and finance leases for the year ended April 3, 2021 were $4.2 million and $79,000, respectively. Cash payments for operating and finance leases for year ended March 28, 2020 were $3.4 million and $142,000, respectively. Rent expense for third-party operating leases was $5.2 million for the fiscal year ended March 30, 2019 and is included in Cost of sales and Selling, general and administrative expenses in the accompanying Consolidated Statements of Comprehensive Income.

Operating lease liability maturities

The present value minimum payments for future fiscal years under non-cancelable leases as of April 3, 2021 was as follows (in thousands):


	Operating Leases		Finance Leases		Total
2022	$	4,292	$	73	$	4,365
2023	3,973		73		4,046
2024	3,591		73		3,664
2025	2,799		73		2,872
2026	2,855		49		2,904
Thereafter	2,266		—		2,266
	19,776		341		20,117
Less: Amount representing interest	(2,231)		(37)		(2,268)
	$	17,545	$	304	$	17,849

Finance lease liability maturities

The present value minimum payments for future fiscal years under non-cancelable leases as of April 3, 2021 was as follows (in thousands):


	Operating Leases		Finance Leases		Total
2022	$	4,292	$	73	$	4,365
2023	3,973		73		4,046
2024	3,591		73		3,664
2025	2,799		73		2,872
2026	2,855		49		2,904
Thereafter	2,266		—		2,266
	19,776		341		20,117
Less: Amount representing interest	(2,231)		(37)		(2,268)
	$	17,545	$	304	$	17,849