Leases

12 Months Ended

Mar. 29, 2025

11.

Leases

The Company has operating leases for land, manufacturing and office facilities, and equipment. The Company’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such option. The Company's leases do not contain material residual value guarantees or material restrictive covenants. Operating lease expense is recognized on a straight-line basis over the lease terms. Lease expense included in selling, general, and administrative expenses in the accompanying consolidated income statements is shown below:


	Year ended
(Dollars in thousands)	March 29, 2025		March 30, 2024
Operating lease expense	$	12,463	$	10,230
Short-term lease expense		2,186		2,170
Total lease expense	$	14,649	$	12,400

Operating lease assets and obligations included in the accompanying consolidated balance sheet are shown below:


(Dollars in thousands)	March 29, 2025		March 30, 2024
Right-of-use assets under operating leases:
Other long-term assets	$	32,351	$	38,661
Lease obligations under operating leases:
Other current liabilities		9,295		7,476
Other long-term liabilities		23,646		31,266
Total lease obligation	$	32,941	$	38,742

Maturities of operating lease obligations as of March 29, 2025 are shown below:


(Dollars in thousands)	March 29, 2025
Fiscal 2026	$	11,032
Fiscal 2027		9,634
Fiscal 2028		6,250
Fiscal 2029		2,167
Fiscal 2030		1,389
Thereafter		14,089
Total undiscounted cash flows		44,561
Less: imputed interest		(11,620	)
Lease obligations under operating leases	$	32,941

The weighted average lease term and discount rate for operating leases are shown below:


	March 29, 2025
Weighted average remaining lease term (in years)		7.7
Weighted average discount rate (as percent)		7.1

Other information related to leases is as follows:


	Year ended
(Dollars in thousands)	March 29, 2025		March 30, 2024
Non-cash activity:
Right-of-use assets obtained in exchange for operating lease obligations	$	3,002	$	10,306
Operating cash flows:
Cash paid related to operating lease obligations	$	12,407	$	9,878