Note 6 - Assets Held For Sale

6 Months Ended

Sep. 30, 2023

Disposal Group, Held-for-Sale, Not Discontinued Operations [Member]

Notes to Financial Statements

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

6. Assets Held for Sale

The Company classifies its assets as held for sale at the time management commits to a plan to sell the asset, the asset is actively marketed and available for immediate sale, and the sale is expected to be completed within one year. Due to market conditions, certain assets may be classified as held for sale for more than one year as the Company continues to actively market the assets. The Company has non-operating facilities and equipment that meet the criteria to be classified as held for sale and are recorded at the lower of carrying value or fair value less costs to sell. The following table presents information related to the major classes of assets that were classified as held for sale in the condensed consolidated balance sheets (in thousands): 

			As of:
	September 30,		October 1,		March 31,
	2023		2022		2023
Property, plant and equipment, net	$	200	$	4,604	$	4,358
Current assets held for sale	$	200	$	4,604	$	4,358

The decrease in assets held for sale during the six months ended September 30, 2023 was due to a reduction of $1.6 million for write-downs to properly reflect the lower of carrying value or fair value less costs to sell and a reduction of $2.5 million in connection with the sale of non-operational assets in the Pacific Northwest. The Company received proceeds of $4.4 million, resulting in a net gain of $1.9 million which is recorded in other operating income, net in the condensed consolidated statement of net earnings.