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Leases
 12 Months Ended
Apr. 02, 2022
Leases [Abstract]  
Operating Leases Leases
We lease certain production and retail locations, office space and equipment. We determine if a contract or arrangement is, or contains, a lease at inception. Lease agreements with an initial term of 12 months or less are not recorded in the Consolidated Balance Sheets. Certain lease agreements include one or more options to renew, with renewal terms that can extend the lease term by one to three years or more. Generally, the exercise of lease renewal options is at our discretion. Some agreements also include options to purchase the leased property. The estimated life of assets and leasehold improvements is limited by the expected lease term, unless there is a transfer of title or purchase option that we are reasonably certain to exercise.
 Certain of our lease agreements include rental payments adjusted periodically for inflation. These lease agreements do not contain any material residual value guarantees or material restrictive covenants.
 Right Of Use ("ROU") assets represent the right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments in accordance with the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Since our leases do not provide a readily determinable implicit interest rate, we estimate an incremental borrowing rate. In determining the estimated incremental borrowing rate, we consider the lease period and comparable market interest rates, as well as any other information available at the lease commencement date. The lease term includes options to extend or terminate the lease when it is reasonably certain that we will exercise such options.
The following table provides information about the financial statement classification of our lease balances reported within the Consolidated Balance Sheets as of April 2, 2022 and April 3, 2021 (in thousands):
ClassificationApril 2,
2022		April 3,
2021
ROU assets
Operating lease assetsOperating lease right-of-use assets$16,952 $16,252 
Finance lease assets
Property, plant and equipment, net (1)
7,070 986 
Total lease assets$24,022 $17,238 
Lease Liabilities
Current:
   Operating lease liabilitiesAccrued expenses and other current liabilities$5,085 $4,184 
   Finance lease liabilitiesCurrent portion of secured credit facilities and other347 71 
Non-current:
   Operating lease liabilitiesOperating lease liabilities13,158 13,361 
   Finance lease liabilitiesSecured credit facilities and other5,969 233 
Total lease liabilities$24,559 $17,849 
(1) Recorded net of accumulated amortization of $87,000 and $143,000 as of April 2, 2022 and April 3, 2021, respectively.
The following table provides information about the financial statement classification of our lease expenses reported within the Consolidated Statements of Comprehensive Income for the years ended April 2, 2022, April 3, 2021 and March 28, 2020 (in thousands):
Year Ended
Lease Expense CategoryClassificationApril 2,
2022		April 3,
2021		March 28,
2020
Operating lease expense (2)
Cost of sales$1,160 $1,105 $834 
Selling, general and administrative expenses3,636 3,327 3,119 
Finance lease expense:
   Amortization of leased assetsCost of sales109 39 39 
   Interest on lease liabilitiesInterest expense151 17 52 
Total lease expense$5,056 $4,488 $4,044 
(2) Excludes short-term and variable lease expenses, which are immaterial.
Cash payments for operating and finance leases were as follows (in thousands):
 April 2,
2022		April 3,
2021		March 28,
2020
Operating leases$4,794 $4,164 $3,375 
Finance leases220 79 142 
The present value minimum payments for future fiscal years under non-cancelable leases as of April 2, 2022 was as follows (in thousands):
Operating LeasesFinance LeasesTotal
2023$5,214 $356 $5,570 
20244,727 356 5,083 
20253,691 356 4,047 
20263,369 356 3,725 
20271,220 356 1,576 
Thereafter2,056 10,941 12,997 
20,277 12,721 32,998 
Less: Amount representing interest(2,034)(6,405)(8,439)
$18,243 $6,316 $24,559 
The following table provides information about the weighted average remaining lease terms and weighted average discount rates as of April 2, 2022:
Remaining Lease Term (Years)Discount Rate
   Operating leases4.74.5 %
   Finance leases35.74.5 %
Finance Leases Leases
We lease certain production and retail locations, office space and equipment. We determine if a contract or arrangement is, or contains, a lease at inception. Lease agreements with an initial term of 12 months or less are not recorded in the Consolidated Balance Sheets. Certain lease agreements include one or more options to renew, with renewal terms that can extend the lease term by one to three years or more. Generally, the exercise of lease renewal options is at our discretion. Some agreements also include options to purchase the leased property. The estimated life of assets and leasehold improvements is limited by the expected lease term, unless there is a transfer of title or purchase option that we are reasonably certain to exercise.
 Certain of our lease agreements include rental payments adjusted periodically for inflation. These lease agreements do not contain any material residual value guarantees or material restrictive covenants.
 Right Of Use ("ROU") assets represent the right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments in accordance with the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. Since our leases do not provide a readily determinable implicit interest rate, we estimate an incremental borrowing rate. In determining the estimated incremental borrowing rate, we consider the lease period and comparable market interest rates, as well as any other information available at the lease commencement date. The lease term includes options to extend or terminate the lease when it is reasonably certain that we will exercise such options.
The following table provides information about the financial statement classification of our lease balances reported within the Consolidated Balance Sheets as of April 2, 2022 and April 3, 2021 (in thousands):
ClassificationApril 2,
2022		April 3,
2021
ROU assets
Operating lease assetsOperating lease right-of-use assets$16,952 $16,252 
Finance lease assets
Property, plant and equipment, net (1)
7,070 986 
Total lease assets$24,022 $17,238 
Lease Liabilities
Current:
   Operating lease liabilitiesAccrued expenses and other current liabilities$5,085 $4,184 
   Finance lease liabilitiesCurrent portion of secured credit facilities and other347 71 
Non-current:
   Operating lease liabilitiesOperating lease liabilities13,158 13,361 
   Finance lease liabilitiesSecured credit facilities and other5,969 233 
Total lease liabilities$24,559 $17,849 
(1) Recorded net of accumulated amortization of $87,000 and $143,000 as of April 2, 2022 and April 3, 2021, respectively.
The following table provides information about the financial statement classification of our lease expenses reported within the Consolidated Statements of Comprehensive Income for the years ended April 2, 2022, April 3, 2021 and March 28, 2020 (in thousands):
Year Ended
Lease Expense CategoryClassificationApril 2,
2022		April 3,
2021		March 28,
2020
Operating lease expense (2)
Cost of sales$1,160 $1,105 $834 
Selling, general and administrative expenses3,636 3,327 3,119 
Finance lease expense:
   Amortization of leased assetsCost of sales109 39 39 
   Interest on lease liabilitiesInterest expense151 17 52 
Total lease expense$5,056 $4,488 $4,044 
(2) Excludes short-term and variable lease expenses, which are immaterial.
Cash payments for operating and finance leases were as follows (in thousands):
 April 2,
2022		April 3,
2021		March 28,
2020
Operating leases$4,794 $4,164 $3,375 
Finance leases220 79 142 
The present value minimum payments for future fiscal years under non-cancelable leases as of April 2, 2022 was as follows (in thousands):
Operating LeasesFinance LeasesTotal
2023$5,214 $356 $5,570 
20244,727 356 5,083 
20253,691 356 4,047 
20263,369 356 3,725 
20271,220 356 1,576 
Thereafter2,056 10,941 12,997 
20,277 12,721 32,998 
Less: Amount representing interest(2,034)(6,405)(8,439)
$18,243 $6,316 $24,559 
The following table provides information about the weighted average remaining lease terms and weighted average discount rates as of April 2, 2022:
Remaining Lease Term (Years)Discount Rate
   Operating leases4.74.5 %
   Finance leases35.74.5 %