Leases

12 Months Ended

Mar. 29, 2025

The Company has operating leases for corporate offices and certain office equipment. Our leases have remaining lease terms of 1 year to 24 years, some of which include options to extend the leases that are considered reasonably certain to be exercised. There are no residual value guarantees in any of our leases. No restrictions or covenants have been imposed on the Company as a result of the lease agreements in place. All of the Company’s leases have been classified as operating leases.

The components of net operating lease expense were as follows (in thousands):


	Fiscal Years Ended
	March 29, 2025		March 30, 2024
Operating lease - in excess of 12 months	$	19,750	$	17,498
Variable lease	6,137		5,259
Short-term lease	351		853
Operating lease income	(944)		(164)
Total net operating lease expense	$	25,294	$	23,446

Supplemental operating lease information:


	Fiscal Years Ended
	March 29, 2025			March 30, 2024
Balance Sheet Information (in thousands)
Operating lease right-of-use assets	$	126,688		$	138,288
Operating lease liabilities	$	143,719		$	155,216

Cash Flow Information (in thousands)
Operating cash outflows from operating leases	$	21,965		$	19,189
Non-Cash Information
Right-of-use assets obtained in exchange for new operating lease liabilities	3,538			24,784
Lease remeasurements	(1,078)			(1,606)
Lease impairments and other related charges	—			(563)

Operating Lease Information
Weighted-average remaining lease term - operating leases (in years)	11			12
Weighted-average discount rate - operating leases	4		%	4		%

As of March 29, 2025, we have an additional operating lease that has not yet commenced with an estimated lease obligation of approximately $5 million. This operating lease will commence in fiscal year 2026 with a lease term of approximately 10 years.

Future lease commitments and income under non-cancellable leases, including extension options reasonably anticipated to be exercised as of March 29, 2025, are as follows (in thousands):


Fiscal Year	Operating Lease Commitments		Operating Lease Income
2026	$	21,915	$	(1,578)
2027	19,239		(1,889)
2028	19,702		(2,029)
2029	19,487		(1,418)
2030	16,945		—
Thereafter	86,104		—
Total	$	183,392	$	(6,914)
Less imputed interest and other	(39,673)		—
Total	$	143,719	$	(6,914)

Operating lease liabilities consisted of the following (in thousands):


	March 29, 2025		March 30, 2024
Current lease liabilities	$	21,811	$	20,640
Non-current lease liabilities	121,908		134,576
Total operating lease liabilities	$	143,719	$	155,216