Income Taxes (Tables)

12 Months Ended

Mar. 30, 2024

Income Tax Disclosure [Abstract]

Provision for income taxes

The following details the provision for income taxes for fiscal years 2024, 2023 and 2022 (in thousands):

	2024		2023		2022
Current
Federal	$	36,023	$	51,190	$	7,271
State	8,094		12,709		8,768
Foreign	218		50		—
	44,335		63,949		16,039
Deferred
Federal	(2,884)		2,705		(1,257)
State	(98)		(732)		(535)
Foreign	(78)		—		—
	(3,060)		1,973		(1,792)
	$	41,275	$	65,922	$	14,247

Reconciliations of income taxes

A reconciliation of income taxes computed by applying the expected federal statutory income tax rate of 21% for fiscal years 2024, 2023 and 2022 to income before income taxes reported in the Consolidated Statements of Comprehensive Income is as follows (in thousands):

	2024		2023		2022
Federal income tax at statutory rate	$	41,828	$	64,420	$	44,518
State income taxes, net of federal benefit	7,984		12,172		8,075
Tax credits	(6,662)		(10,847)		(37,488)
Other	(1,875)		177		(858)
	$	41,275	$	65,922	$	14,247

Net deferred tax assets and liabilities

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

	March 30, 2024		April 1, 2023
Net deferred tax (liabilities) assets
Goodwill	$	(17,080)	$	(16,041)
Property, plant and equipment	(14,678)		(16,763)
Warranty reserves	7,668		7,355
Lease - Operating lease liability	7,446		6,323
Lease - Right of use assets	(7,108)		(6,050)
Research and experimentation expenditures	5,940		2,712
Salaries and wages	3,176		3,675
Inventory	2,913		2,151
Accrued volume rebates	2,868		2,713
Other	4,280		6,344
	$	(4,575)	$	(7,581)