Revenue Recognition

12 Months Ended

Mar. 29, 2025

Revenue from Contract with Customer [Abstract]

Revenue Recognition

10.Revenue Recognition

The Company’s revenue is recognized when performance obligations under the terms of a contract are satisfied which generally occurs with the transfer of control of products. The Company enters into contracts with its customers to provide manufactured homes, modular homes, park model RVs, ADUs, commercial structures and transportation services. Generally, the Company’s contracts may be terminated by the Company’s customers at any time prior to initiation of construction of the respective home. Historically, terminations of these contracts have been minimal. The Company receives signed sales quotes from its customers, which provide the terms for a specific home, including price. The Company also has agreements with certain customers that provide for certain variable consideration, such as volume discounts, that are deducted from the contract price and accrued at the time of sale. In certain situations, the Company may receive payment in advance of completion of its contractual obligations. In these situations, the arising contract liability is classified within customer deposits and receipts in excess of revenues. Following the receipt of the customer deposit, the Company typically completes its performance obligation within a twelve-month period.

For sales to independent wholesale customers, revenue is recognized at the point in time when wholesale floor plan financing or retailer credit approval has been received, the home has shipped and title has transferred, which occurs when the Company has satisfied its contractual obligations and the control of its products has been transferred. The Company does not have an enforceable right to payment prior to shipment. The amount of revenue recognized reflects the consideration that the Company expects to be entitled to in exchange for those products. The Company’s customers pay for products received in accordance with payment terms that are customary within the industry. As is customary in the factory-built housing industry, a significant portion of the Company’s sales to independent retailers are financed under floor plan financing programs with certain third-party lenders. Floor plan financing

arrangements are generally identified prior to shipment of products and payment for sales financed under floor plan programs is generally received 5 to 10 business days from the date of invoice.

For retail sales to consumers from Company-owned retail sales centers, revenue is recognized when the home has been delivered, set up and accepted by the consumer, and title has transferred. Revenue from Company-owned retail sales centers includes the selling price of homes internally manufactured that otherwise would have been included in Manufacturing revenue.

The Company recognizes revenue and related cost of sales for long-term construction contracts (“Commercial”) over time as performance obligations are satisfied using the percentage-of-completion method (input method). Management estimates the stage of completion on each construction project based on progress and costs incurred. Unbilled revenue on long-term construction contracts are classified as a contract asset in accounts receivable. Receipts in excess of billings are classified as contract liabilities and included in other current liabilities. There were no uncollected billings related to long-term construction contracts, unbilled revenue or receipts in excess of billings for long-term contracts at either March 29, 2025 or March 30, 2024.

Revenue for the Company’s transportation operations is recognized when a shipment has been delivered to its final destination. Amounts billed to customers related to shipping and handling costs are included in net sales. Shipping and handling costs are accounted for as fulfillment costs and are included in cost of sales.

The following tables disaggregate the Company’s revenue by sales category:

	Year ended March 29, 2025
(Dollars in thousands)	U.S. Factory-Built Housing		Canadian Factory-built Housing		Corporate/ Other		Total
Manufacturing	$	1,495,978	$	94,172	$	—	$	1,590,150
Retail		861,938		—		—		861,938
Transportation		—		—		31,360		31,360
Total	$	2,357,916	$	94,172	$	31,360	$	2,483,448
	Year ended March 30, 2024
(Dollars in thousands)	U.S. Factory-Built Housing		Canadian Factory-built Housing		Corporate/ Other		Total
Manufacturing	$	1,378,396	$	109,089	$	—	$	1,487,485
Retail		507,111		—		—		507,111
Transportation		—		—		30,227		30,227
Total	$	1,885,507	$	109,089	$	30,227	$	2,024,823
	Year ended April 1, 2023
(Dollars in thousands)	U.S. Factory-Built Housing		Canadian Factory-built Housing		Corporate/ Other		Total
Manufacturing	$	2,116,264	$	144,289	$	—	$	2,260,553
Retail		293,730		—		—		293,730
Commercial		1,348		—		—		1,348
Transportation		—		—		50,929		50,929
Total	$	2,411,342	$	144,289	$	50,929	$	2,606,560