Leases (Tables)

12 Months Ended

Mar. 30, 2024

The following table provides information about the financial statement classification of our lease balances reported within the Consolidated Balance Sheets as of March 30, 2024 and April 1, 2023 (in thousands):


	Classification	March 30, 2024		April 1, 2023
ROU assets
Operating lease assets	Operating lease right-of-use assets	$	39,027	$	26,755
Finance lease assets	Property, plant and equipment, net (1)	5,913		6,088
Total lease assets		$	44,940	$	32,843

Lease Liabilities
Current:
Operating lease liabilities	Accrued expenses and other current liabilities	$	5,303	$	6,262
Finance lease liabilities	Accrued expenses and other current liabilities	80		347
Non-current:
Operating lease liabilities	Operating lease liabilities	35,148		21,678
Finance lease liabilities	Other liabilities	6,086		5,896
Total lease liabilities		$	46,617	$	34,183

(1) Recorded net of accumulated amortization of $0.4 million and $0.3 million as of March 30, 2024 and April 1, 2023, respectively.

Lease, Cost

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 March 30, 2024, April 1, 2023 and April 2, 2022 (in thousands):


		Year Ended
Lease Expense Category	Classification	March 30, 2024		April 1, 2023		April 2, 2022
Operating lease expense (2)
	Cost of sales	$	1,119	$	1,190	$	1,160
	Selling, general and administrative expenses	4,693		4,059		3,636
Finance lease expense
Amortization of leased assets	Cost of sales	175		175		109
Interest on lease liabilities	Interest expense	279		283		151
Total lease expense		$	6,266	$	5,707	$	5,056

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

Cash payments for operating and finance leases were as follows (in thousands):


	March 30, 2024		April 1, 2023		April 2, 2022
Operating leases	$	6,694	$	5,609	$	4,794
Finance leases	356		356		220

The following table provides information about the weighted average remaining lease terms and weighted average discount rates as of March 30, 2024:


	Remaining Lease Term (Years)	Discount Rate
Operating leases	10.3	4.9	%
Finance leases	33.8	4.5	%

Lessee, Operating Lease, Liability, to be Paid, Maturity

The present value of minimum payments for future fiscal years under non-cancelable leases as of March 30, 2024 was as follows (in thousands):


	Operating Leases		Finance Leases		Total
2025	$	7,074	$	356	$	7,430
2026	7,396		356		7,752
2027	4,870		356		5,226
2028	3,979		356		4,335
2029	3,810		356		4,166
Thereafter	24,305		10,230		34,535
	51,434		12,010		63,444
Less: Amount representing interest	(10,983)		(5,844)		(16,827)
	$	40,451	$	6,166	$	46,617

Finance Lease, Liability, to be Paid, Maturity

The present value of minimum payments for future fiscal years under non-cancelable leases as of March 30, 2024 was as follows (in thousands):


	Operating Leases		Finance Leases		Total
2025	$	7,074	$	356	$	7,430
2026	7,396		356		7,752
2027	4,870		356		5,226
2028	3,979		356		4,335
2029	3,810		356		4,166
Thereafter	24,305		10,230		34,535
	51,434		12,010		63,444
Less: Amount representing interest	(10,983)		(5,844)		(16,827)
	$	40,451	$	6,166	$	46,617