Goodwill, Intangible Assets, and Cloud Computing Arrangements

9 Months Ended

Dec. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill, Intangible Assets, and Cloud Computing Arrangements

5. Goodwill, Intangible Assets, and Cloud Computing Arrangements

Goodwill

Goodwill represents the excess of the cost of an acquired business over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed in a business combination. At December 30, 2023 and April 1, 2023, the Company had goodwill of $359.3

million and $196.6 million, respectively. The change in goodwill is attributed to the acquisition of Regional Homes. At December 30, 2023, there were no accumulated impairment losses related to goodwill.

Intangible Assets

The components of amortizable intangible assets were as follows:

(Dollars in thousands)	December 30, 2023									April 1, 2023
	Customer Relationships & Other			Trade Names			Total			Customer Relationships & Other			Trade Names			Total
Gross carrying amount	$	83,035		$	46,446		$	129,481		$	66,013		$	21,497		$	87,510
Accumulated amortization		(38,100	)		(12,061	)		(50,161	)		(32,103	)		(10,064	)		(42,167	)
Amortizable intangibles, net	$	44,935		$	34,385		$	79,320		$	33,910		$	11,433		$	45,343

During the three months ended December 30, 2023 and December 31, 2022, amortization of intangible assets was $2.8 million and $3.0 million, respectively. During the nine months ended December 30, 2023 and December 31, 2022, amortization of intangible assets was $7.8 million and $7.7 million, respectively.

Cloud Computing Arrangements

The Company capitalizes costs associated with the development of cloud computing arrangements in a manner consistent with internally developed software. At December 30, 2023 and April 1, 2023, the Company had capitalized cloud computing costs, net of amortization of $25.9 million and $25.0 million, respectively. Cloud computing costs are included in other noncurrent assets in the accompanying condensed consolidated balance sheets. Amortization of capitalized cloud computing costs for the three and nine months ended December 30, 2023 was $0.3 million and $0.7 million, respectively. Amortization of capitalized cloud computing costs for the three and nine months ended December 31, 2022 was $0.2 million and $0.6 million, respectively.