Cavco Industries (CVCO) 10-Q2 Feb 242024 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Dec. 30, 2023	Jan. 26, 2024
Cover [Abstract]
Entity Central Index Key	0000278166
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 30, 2023
Amendment Flag	false
Document Transition Report	false
Entity File Number	000-08822
Entity Registrant Name	CAVCO INDUSTRIES INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	56-2405642
Entity Address, Address Line One	3636 North Central Ave, Ste 1200
Entity Address, City or Town	Phoenix
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85012
City Area Code	602
Local Phone Number	256-6263
Title of 12(b) Security	Common Stock, par value $0.01
Trading Symbol	CVCO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		8,346,618
Current Fiscal Year End Date	--03-30
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Current assets
Cash and cash equivalents	$ 352,808	$ 271,427
Restricted cash, current	13,215	11,728
Accounts receivable, net	70,501	89,347
Short-term investments	16,819	14,978
Current portion of consumer loans receivable, net	11,855	17,019
Current portion of commercial loans receivable, net	48,817	43,414
Current portion of commercial loans receivable from affiliates, net	2,135	640
Inventories	236,649	263,150
Prepaid expenses and other current assets	80,248	92,876
Total current assets	833,047	804,579
Restricted cash	585	335
Investments	16,099	18,639
Consumer loans receivable, net	24,279	27,129
Commercial loans receivable, net	38,836	53,890
Commercial loans receivable from affiliates, net	2,784	4,033
Property, plant and equipment, net	224,216	228,278
Goodwill	120,744	114,547
Other intangibles, net	28,613	29,790
Operating lease right-of-use assets	37,393	26,755
Total assets	1,326,596	1,307,975
Current liabilities
Accounts payable	23,928	30,730
Accrued expenses and other current liabilities	247,244	262,661
Total current liabilities	271,172	293,391
Operating lease liabilities	33,285	21,678
Other liabilities	7,651	7,820
Deferred income taxes	5,788	7,581
Redeemable noncontrolling interest	0	1,219
Stockholders' equity
Preferred stock, $0.01 par value; 1,000,000 shares authorized; No shares issued or outstanding	0	0
Common stock, $0.01 par value; 40,000,000 shares authorized; Issued 9,381,147 and 9,337,125 shares, respectively; Outstanding 8,345,812 and 8,665,324 shares, respectively	94	93
Treasury stock, at cost; 1,035,335 and 671,801 shares, respectively	(262,072)	(164,452)
Additional paid-in capital	277,847	271,950
Retained earnings	993,193	869,310
Accumulated other comprehensive loss	(362)	(615)
Total stockholders' equity	1,008,700	976,286
Total liabilities, redeemable noncontrolling interest and stockholders' equity	$ 1,326,596	$ 1,307,975
Number of shares and par value
Preferred stock, par value	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	1,000,000	1,000,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares Outstanding	0	0
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	40,000,000	40,000,000
Common Stock, Shares, Issued	9,381,147	9,337,125
Common Stock, Shares, Outstanding	8,345,812	8,665,324
Treasury Stock, Common, Shares	1,035,335	671,801

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022
Income Statement [Abstract]
Net revenue	$ 446,769	$ 500,603	$ 1,374,674	$ 1,666,333
Cost of sales	343,718	368,635	1,046,787	1,232,042
Gross profit	103,051	131,968	327,887	434,291
Selling, general and administrative expenses	63,312	58,904	186,498	191,934
Income from operations	39,739	73,064	141,389	242,357
Interest income	5,234	3,581	15,664	6,746
Interest expense	(842)	(216)	(1,365)	(610)
Other (expense) income, net	(224)	(348)	557	(291)
Income before income taxes	43,907	76,081	156,245	248,202
Income tax expense	(7,920)	(16,492)	(32,274)	(54,721)
Net income	35,987	59,589	123,971	193,481
Less: net income attributable to redeemable noncontrolling interest	0	65	88	239
Net income attributable to Cavco common stockholders	35,987	59,524	123,883	193,242
Comprehensive income:
Net income	35,987	59,589	123,971	193,481
Reclassification adjustment for securities sold	293	(13)	299	(19)
Applicable income taxes	(62)	3	(63)	4
Net change in unrealized position of investments held	13	107	22	(412)
Applicable income taxes	(3)	(23)	(5)	86
Comprehensive income	36,228	59,663	124,224	193,140
Less: comprehensive income attributable to redeemable noncontrolling interest	0	65	88	239
Comprehensive income attributable to Cavco common stockholders	$ 36,228	$ 59,598	$ 124,136	$ 192,901
Net income per share attributable to Cavco common stockholders:
Basic (usd per share)	$ 4.31	$ 6.71	$ 14.47	$ 21.72
Diluted (usd per share)	$ 4.27	$ 6.66	$ 14.34	$ 21.55
Weighted average shares outstanding:
Basic	8,358,389	8,870,565	8,561,209	8,897,405
Diluted	8,432,471	8,936,075	8,640,288	8,969,104

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
OPERATING ACTIVITIES
Net income	$ 123,971	$ 193,481
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	13,854	12,174
Provision for credit losses	(121)	(659)
Deferred income taxes	(1,861)	3,225
Stock-based compensation expense	4,698	4,855
Non-cash interest income, net	(1,230)	(527)
Loss (gain) on sale or retirement of property, plant and equipment, net	186	(116)
Gain on investments and sale of loans, net	(5,958)	(6,647)
Distributions of earnings from equity method investments	0	4,306
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable	18,161	15,988
Consumer loans receivable originated	(74,306)	(135,552)
Proceeds from sale of consumer loans	81,752	146,050
Principal payments on consumer loans receivable	5,480	7,206
Inventories	51,182	28,513
Prepaid expenses and other current assets	9,909	(16,525)
Commercial loans receivable originated	(83,509)	(71,183)
Principal payments received on commercial loans receivable	87,591	61,605
Accounts payable, accrued expenses and other liabilities	(23,695)	(16,075)
Net cash provided by operating activities	206,104	230,119
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(13,237)	(40,850)
Payments for acquisitions, net	(19,702)	0
Proceeds from sale of property, plant and equipment	4,514	406
Purchases of investments	(7,408)	(10,198)
Proceeds from sale of investments	9,290	9,230
Return of invested capital from equity method investments	0	12,213
Net cash used in investing activities	(26,543)	(29,199)
FINANCING ACTIVITIES
Payments for taxes on stock option exercises and releases of equity awards	(1,898)	(1,072)
Proceeds from exercise of stock options	3,098	1,591
Payments on finance leases and other secured financings	(442)	(549)
Payments for common stock repurchases	(96,781)	(73,230)
Distributions to noncontrolling interest	(420)	(600)
Net cash used in financing activities	(96,443)	(73,860)
Net increase in cash, cash equivalents and restricted cash	83,118	127,060
Cash, cash equivalents and restricted cash at beginning of the fiscal year	283,490	259,334
Cash, cash equivalents and restricted cash at end of the period	366,608	386,394
Supplemental disclosures of cash flow information
Cash paid for income taxes	28,776	71,137
Cash paid for interest	612	430
Change in GNMA loans eligible for repurchase	(3,812)	(2,914)
Non-cash consideration for acquisitions	5,430	0
Right-of-use Assets
Leased Assets Acquired	14,743	3,535
Operating Lease Obligations
Lease Obligations Incurred	$ 14,743	$ 3,535

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Dec. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited Consolidated Financial Statements of Cavco Industries, Inc. and its subsidiaries (collectively, "we," "us," "our," the "Company" or "Cavco") have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") for Quarterly Reports on Form 10-Q and Article 10 of SEC Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to such rules and regulations. In addition, references throughout to numbered "Notes" refer to these Notes to Consolidated Financial Statements (Unaudited), unless otherwise stated. In the opinion of management, these financial statements include all adjustments, including normal recurring adjustments, which are necessary to fairly state the results for the periods presented. Certain prior period amounts have been reclassified including from Other (expense) income, net to Interest income to conform to current period classification. We have evaluated subsequent events after the balance sheet date through the date of the filing of this report with the SEC, and there were no disclosable subsequent events. These Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and the Notes to the Consolidated Financial Statements included in our 2023 Annual Report on Form 10-K for the year ended April 1, 2023, filed with the SEC ("Form 10-K"). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying Notes. Due to uncertainties, actual results could differ from the estimates and assumptions used in preparation of the Consolidated Financial Statements. The Consolidated Statements of Comprehensive Income and Consolidated Statements of Cash Flows for the interim periods are not necessarily indicative of the results or cash flows for the full year. The Company operates on a 52-53 week fiscal year ending on the Saturday nearest to March 31 st of each year. Each fiscal quarter consists of 13 weeks, with an occasional fourth quarter extending to 14 weeks, if necessary, for the fiscal year to end on the Saturday nearest to March 31 st . The current fiscal year will end on March 30, 2024 and will include 52 weeks. We operate in two segments: (1) factory-built housing, which includes wholesale and retail factory-built housing operations, and (2) financial services, which includes manufactured housing consumer finance and insurance. We design and build a wide variety of affordable manufactured homes, modular homes and park model RVs through 29 homebuilding production lines located throughout the United States and two production lines in Mexico. We distribute our homes through a large network of independent distribution points in 48 states and Canada as well as 73 Company-owned U.S. retail stores, of which 43 are located in Texas. The financial services segment is comprised of a finance subsidiary, CountryPlace Acceptance Corp. ("CountryPlace"), and an insurance subsidiary, Standard Casualty Company ("Standard Casualty"). CountryPlace is an approved Federal National Mortgage Association and Federal Home Loan Mortgage Corporation seller/servicer and a Government National Mortgage Association ("GNMA") mortgage-backed securities issuer that offers conforming mortgages, non-conforming mortgages and home-only loans to purchasers of factory-built homes. Standard Casualty provides property and casualty insurance primarily to owners of manufactured homes. During fiscal 2023, we completed the acquisition of Solitaire Inc. and other related entities (collectively "Solitaire Homes"), including their four manufacturing facilities and twenty-two retail locations by acquiring 100% of the outstanding stock of Solitaire Homes. The results of operations are included in our Consolidated Financial Statements from the date of acquisition. See Note 21, Acquisition. At December 30, 2023 we have a 70% interest in Craftsman Homes, LLC and Craftsman Homes Development, LLC (collectively "Craftsman"). On September 28, 2023, we executed an amendment to the Membership Interest Purchase Agreement (the "Agreement") for Craftsman to acquire the remaining 30% interest in Craftsman for cash on December 31, 2023. An additional amendment was signed in December 2023 to move the acquisition date to January 1, 2024. As the entire 30% is mandatorily redeemable, the value attributed to this noncontrolling interest at December 30, 2023 is included in Accrued expenses and other current liabilities on the Consolidated Balance Sheets at fair value. On January 1, 2024 we acquired the remaining 30% interest in Craftsman for cash. On November 15, 2023, the Company acquired certain assets and liabilities of Kentucky Dream Homes, LLC, a manufactured home retailer with locations in Kentucky and Florida. The results of operations are included in our Consolidated Financial Statements from the date of acquisition. See Note 21, Acquisition For a description of significant accounting policies we used in the preparation of our Consolidated Financial Statements, please refer to Note 1 of the Notes to Consolidated Financial Statements included in the Form 10-K.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
Revenue from Contracts with Customers	Dec. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers The following table summarizes Net revenue disaggregated by reportable segment and source (in thousands): Three Months Ended Nine Months Ended December 30, 2023 December 31, 2022 December 30, December 31, Factory-built housing Home sales $ 400,633 $ 455,459 $ 1,250,417 $ 1,555,236 Delivery, setup and other revenues 26,306 25,734 67,697 58,156 426,939 481,193 1,318,114 1,613,392 Financial services Insurance agency commissions received from third-party insurance companies 1,229 887 3,145 3,313 All other sources 18,601 18,523 53,415 49,628 19,830 19,410 56,560 52,941 $ 446,769 $ 500,603 $ 1,374,674 $ 1,666,333

Cash and Cash Equivalents and R

Cash and Cash Equivalents and Restricted Cash	9 Months Ended
Cash and Cash Equivalents and Restricted Cash	Dec. 30, 2023
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents and Restricted Cash	Cash and Cash Equivalents and Restricted Cash The following table provides a reconciliation of Cash and cash equivalents and Restricted cash reported within the Consolidated Balance Sheets to the combined amounts shown in the Consolidated Statements of Cash Flows (in thousands): December 30, April 1, Cash and cash equivalents $ 352,808 $ 271,427 Restricted cash, current 13,215 11,728 Restricted cash 585 335 $ 366,608 $ 283,490

Investments

Investments	9 Months Ended
Investments	Dec. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments consisted of the following (in thousands): December 30, April 1, Available-for-sale debt securities $ 19,207 $ 18,555 Marketable equity securities 8,788 9,989 Non-marketable equity investments 4,923 5,073 32,918 33,617 Less short-term investments (16,819) (14,978) $ 16,099 $ 18,639 Investments in marketable equity securities consist of investments in the common stock of industrial and other companies. Our non-marketable equity investments include investments in other retail distribution operations and community-based initiatives. The amortized cost and fair value of our investments in available-for-sale debt securities, by security type are shown in the table below (in thousands): December 30, 2023 April 1, 2023 Amortized Fair Amortized Cost Fair Residential mortgage-backed securities $ 1,888 $ 1,836 $ 2,567 $ 2,488 State and political subdivision debt securities 5,652 5,515 6,023 5,769 Corporate debt securities 12,124 11,856 10,745 10,298 $ 19,664 $ 19,207 $ 19,335 $ 18,555 The amortized cost and fair value of our investments in available-for-sale debt securities, by contractual maturity, are shown in the table below (in thousands). Expected maturities differ from contractual maturities as borrowers may have the right to call or prepay obligations, with or without penalties. December 30, 2023 Amortized Fair Due in less than one year $ 7,585 $ 7,453 Due after one year through five years 9,804 9,532 Due after five years through ten years — — Due after ten years 387 386 Mortgage-backed securities 1,888 1,836 $ 19,664 $ 19,207 Net investment gains and losses on marketable equity securities were as follows (in thousands): Three Months Ended Nine Months Ended December 30, December 31, December 30, December 31, Marketable equity securities Net gain (loss) recognized during the period $ 776 $ 707 $ 1,051 $ (1,868) Less: Net (gain) loss recognized on securities sold during the period (235) (107) (365) 183 Unrealized gain (loss) recognized during the period on securities still held $ 541 $ 600 $ 686 $ (1,685)

Inventories

Inventories	9 Months Ended
Inventories	Dec. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following (in thousands): December 30, April 1, Raw materials $ 80,630 $ 92,045 Work in process 25,969 29,022 Finished goods 130,050 142,083 $ 236,649 $ 263,150

Consumer Loans Receivable

Consumer Loans Receivable	9 Months Ended
Consumer Loans Receivable	Dec. 30, 2023
Receivables [Abstract]
Consumer Loans Receivable	Consumer Loans Receivable The following table summarizes consumer loans receivable (in thousands): December 30, April 1, Loans held for investment, previously securitized $ 18,001 $ 21,000 Loans held for investment 12,901 13,117 Loans held for sale 6,236 10,846 Construction advances 464 706 37,602 45,669 Deferred financing fees and other, net (362) (368) Allowance for loan losses (1,106) (1,153) 36,134 44,148 Less current portion (11,855) (17,019) $ 24,279 $ 27,129 The consumer loans held for investment had the following characteristics: December 30, April 1, Weighted average contractual interest rate 8.0 % 8.2 % Weighted average effective interest rate 8.6 % 8.8 % Weighted average months to maturity 173 150 The following table is a consolidated summary of the delinquency status of the outstanding principal balance of consumer loans receivable (in thousands): December 30, April 1, Current $ 35,403 $ 43,252 31 to 60 days 951 1,247 61 to 90 days 311 213 91+ days 937 957 $ 37,602 $ 45,669 The following table disaggregates the outstanding principal balance of consumer loans receivable by credit quality indicator and fiscal year of origination (in thousands): December 30, 2023 2024 2023 2022 2021 2020 Prior Total Prime- FICO score 680 and greater $ 5,628 $ 329 $ 97 $ 985 $ 1,914 $ 15,413 $ 24,366 Near Prime- FICO score 620-679 744 — — 1,208 949 9,146 12,047 Sub-Prime- FICO score less than 620 — — — 18 49 803 870 No FICO score — — — — — 319 319 $ 6,372 $ 329 $ 97 $ 2,211 $ 2,912 $ 25,681 $ 37,602 April 1, 2023 2023 2022 2021 2020 2019 Prior Total Prime- FICO score 680 and greater $ 9,471 $ 185 $ 1,051 $ 1,982 $ 1,191 $ 16,601 $ 30,481 Near Prime- FICO score 620-679 1,695 — 1,012 1,131 1,550 8,244 13,632 Sub-Prime- FICO score less than 620 84 — 19 51 — 1,033 1,187 No FICO score — — — — 24 345 369 $ 11,250 $ 185 $ 2,082 $ 3,164 $ 2,765 $ 26,223 $ 45,669 As of December 30, 2023, 42% of the outstanding principal balance of the consumer loans receivable portfolio was concentrated in Texas and 14% was concentrated in Florida. As of April 1, 2023, 44% of the outstanding principal balance of the consumer loans receivable portfolio was concentrated in Texas and 13% was concentrated in Florida. Other than Texas and Florida, no sta te had concentrations in excess of 10% of the outstanding principal balance of the consumer loans receivable as of December 30, 2023 or April 1, 2023. Repossessed homes totaled approximately $0.8 million and $1.1 million as of December 30, 2023 and April 1, 2023, respectively, and are included in Prepaid expenses and other current assets in the Consolidated Balance Sheets. Homes undergoing foreclosure or similar proceedings in progress totaled approximately $0.4 million and $0.5 million as of December 30, 2023 and April 1, 2023, respectively.

Commercial Loans Receivable

Commercial Loans Receivable	9 Months Ended
Commercial Loans Receivable	Dec. 30, 2023
Receivables [Abstract]
Commercial Loans Receivable	Commercial Loans Receivable The commercial loans receivable balance consists of direct financing arrangements for the home product needs of our independent distributors, community owners and developers. Commercial loans receivable, net consisted of the following (in thousands): December 30, April 1, Loans receivable $ 94,178 $ 103,726 Allowance for loan losses (1,423) (1,586) Deferred financing fees, net (183) (163) 92,572 101,977 Less current portion of commercial loans receivable (including from affiliates), net (50,952) (44,054) $ 41,620 $ 57,923 The commercial loans receivable balance had the following characteristics: December 30, April 1, Weighted average contractual interest rate 6.5 % 7.6 % Weighted average months outstanding 11 9 Nonperforming status includes loans accounted for on a non-accrual basis and accruing loans with principal payments 90 days or more past due. As of December 30, 2023 and April 1, 2023, there were no commercial loans considered nonperforming. The following table disaggregates the outstanding principal balance of our commercial loans receivable by fiscal year of origination (in thousands): December 30, 2023 2024 2023 2022 2021 2020 Prior Total Performing $ 48,598 $ 34,344 $ 6,522 $ 2,462 $ 1,478 $ 774 $ 94,178 April 1, 2023 2023 2022 2021 2020 2019 Prior Total Performing $ 80,193 $ 16,028 $ 4,071 $ 2,203 $ 1,231 $ — $ 103,726 As of December 30, 2023 and April 1, 2023, there were no commercial loans 90 days or more past due that were still accruing interest, and we were not aware of any potential problem loans that would have a material effect on the commercial loans receivable balance. As of December 30, 2023, we had concentrations of our outstanding principal balance of the commercial loans receivable balance in New York of 15% and California of 16%. As of April 1, 2023, 18% of our outstanding principal balance of the commercial loans receivable balance was in New York. No other state had concentrations in excess of 10% of the outstanding principal balance of the commercial loans receivable as of December 30, 2023 or April 1, 2023.

Property, Plant and Equipment,

Property, Plant and Equipment, net	9 Months Ended
Property, Plant and Equipment, net	Dec. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, Plant and Equipment, net Property, plant and equipment, net, consisted of the following (in thousands): December 30, April 1, Property, plant and equipment, at cost Buildings and improvements $ 170,423 $ 167,291 Machinery and equipment 78,496 76,826 Land 39,822 39,822 Construction in progress 7,913 5,472 296,654 289,411 Accumulated depreciation (72,438) (61,133) $ 224,216 $ 228,278 Depreciation expense for the three and nine months ended December 30, 2023 was $4.2 million and $12.7 million, respectively. Depreciation expense for the three and nine months ended December 31, 2022 was $3.4 million and $10.7 million, respectively.

Leases

Leases	9 Months Ended
Leases	Dec. 30, 2023
Leases [Abstract]
Finance Leases	Leases We lease certain production and retail locations, office space and equipment. The following table provides information about the financial statement classification of our lease balances reported within the Consolidated Balance Sheets as of December 30, 2023 and April 1, 2023 (in thousands): Classification December 30, April 1, ROU assets Operating lease assets Operating lease right-of-use ("ROU") assets $ 37,393 $ 26,755 Finance lease assets Property, plant and equipment, net (1) 6,351 6,088 Total lease assets $ 43,744 $ 32,843 Lease Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 5,305 $ 6,262 Finance lease liabilities Accrued expenses and other current liabilities 79 347 Non-current: Operating lease liabilities Operating lease liabilities 33,285 21,678 Finance lease liabilities Other liabilities 6,107 5,896 Total lease liabilities $ 44,776 $ 34,183 (1) Recorded net of accumulated amortization of $0.4 million and $0.3 million as of December 30, 2023 and April 1, 2023, respectively. The present value of future minimum payments under non-cancelable leases as of December 30, Operating Leases Finance Leases Total Remainder of fiscal 2024 $ 1,688 $ 89 $ 1,777 Fiscal 2025 7,035 356 7,391 Fiscal 2026 6,980 356 7,336 Fiscal 2027 4,545 356 4,901 Fiscal 2028 3,649 356 4,005 Fiscal 2029 3,456 356 3,812 Thereafter 20,276 10,230 30,506 47,629 12,099 59,728 Less: Amount representing interest (9,039) (5,913) (14,952) $ 38,590 $ 6,186 $ 44,776
Operating Leases	Leases We lease certain production and retail locations, office space and equipment. The following table provides information about the financial statement classification of our lease balances reported within the Consolidated Balance Sheets as of December 30, 2023 and April 1, 2023 (in thousands): Classification December 30, April 1, ROU assets Operating lease assets Operating lease right-of-use ("ROU") assets $ 37,393 $ 26,755 Finance lease assets Property, plant and equipment, net (1) 6,351 6,088 Total lease assets $ 43,744 $ 32,843 Lease Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 5,305 $ 6,262 Finance lease liabilities Accrued expenses and other current liabilities 79 347 Non-current: Operating lease liabilities Operating lease liabilities 33,285 21,678 Finance lease liabilities Other liabilities 6,107 5,896 Total lease liabilities $ 44,776 $ 34,183 (1) Recorded net of accumulated amortization of $0.4 million and $0.3 million as of December 30, 2023 and April 1, 2023, respectively. The present value of future minimum payments under non-cancelable leases as of December 30, Operating Leases Finance Leases Total Remainder of fiscal 2024 $ 1,688 $ 89 $ 1,777 Fiscal 2025 7,035 356 7,391 Fiscal 2026 6,980 356 7,336 Fiscal 2027 4,545 356 4,901 Fiscal 2028 3,649 356 4,005 Fiscal 2029 3,456 356 3,812 Thereafter 20,276 10,230 30,506 47,629 12,099 59,728 Less: Amount representing interest (9,039) (5,913) (14,952) $ 38,590 $ 6,186 $ 44,776

Goodwill and Other Intangibles,

Goodwill and Other Intangibles, net	9 Months Ended
Goodwill and Other Intangibles, net	Dec. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangibles	Goodwill and Other Intangibles, net Goodwill and other intangibles, net, consisted of the following (in thousands): December 30, 2023 April 1, 2023 Gross Accumulated Net Gross Accumulated Net Indefinite-lived Goodwill $ 120,744 $ — $ 120,744 $ 114,547 $ — $ 114,547 Trademarks and trade names 16,980 — 16,980 16,980 — 16,980 State insurance licenses 1,100 — 1,100 1,100 — 1,100 138,824 — 138,824 132,627 — 132,627 Finite-lived Customer relationships 15,000 (4,965) 10,035 16,900 (5,818) 11,082 Other 1,114 (616) 498 1,114 (486) 628 $ 154,938 $ (5,581) $ 149,357 $ 150,641 $ (6,304) $ 144,337 Changes to Goodwill for the nine months ended December 30, 2023 were as follows (in thousands): Goodwill beginning of the period $ 114,547 Solitaire Goodwill adjustments (1) 1,137 Kentucky Dream Homes (1) 4,591 Other immaterial acquisition 469 $ 120,744 (1) See Note 21, Acquisitions Amortization expense recognized on intangible assets for the three and nine months ended December 30, 2023 was $0.4 million and $1.2 million, respectively. Amortization expense recognized on intangible assets for the three and nine months ended December 31, 2022 was $0.5 million and $1.5 million, respectively. Customer relationships have a weighted average remaining life of 7.1 years and other finite lived intangibles have a weighted average remaining life of 2.8 years. Expected future amortization is as follows (in thousands): Remainder of fiscal year 2024 $ 392 Fiscal 2025 1,530 Fiscal 2026 1,488 Fiscal 2027 1,415 Fiscal 2028 1,299 Fiscal 2029 1,265 Thereafter 3,144 $ 10,533

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	9 Months Ended
Accrued Expenses and Other Current Liabilities	Dec. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consisted of the following (in thousands): December 30, April 1, Salaries, wages and benefits $ 41,023 $ 47,100 Customer deposits 40,698 45,193 Estimated warranties 32,822 31,368 Unearned insurance premiums 30,192 27,901 Accrued volume rebates 25,086 22,858 Accrued self-insurance 13,671 11,467 Other 63,752 76,774 $ 247,244 $ 262,661

Warranties

Warranties	9 Months Ended
Warranties	Dec. 30, 2023
Product Warranties Disclosures [Abstract]
Warranties	Warranties Activity in the liability for estimated warranties was as follows (in thousands): Three Months Ended Nine Months Ended December 30, December 31, December 30, December 31, Balance at beginning of period $ 33,015 $ 30,841 $ 31,368 $ 26,250 Charged to costs and expenses 11,341 12,036 36,956 40,663 Payments and deductions (11,534) (11,931) (35,502) (35,967) Balance at end of period $ 32,822 $ 30,946 $ 32,822 $ 30,946

Other Liabilities

Other Liabilities	9 Months Ended
Other Liabilities	Dec. 30, 2023
Debt Disclosure [Abstract]
Other Liabilities	Other Liabilities The following table summarizes secured financings and other obligations (in thousands): December 30, April 1, Finance lease liabilities $ 6,186 $ 6,243 Mandatorily redeemable noncontrolling interest 2,796 2,268 Other secured financing 1,942 2,379 10,924 10,890 Less current portion included in Accrued expenses and other current liabilities (3,273) (3,070) $ 7,651 $ 7,820

Debt

Debt	9 Months Ended
Debt	Dec. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt We are party to a Credit Agreement (the "Credit Agreement") that expires in 2027 with Bank of America, N.A., providing for a $50 million revolving credit facility (the "Revolving Credit Facility"), which may be increased up to an aggregate amount of $100 million. As of December 30, 2023 and April 1, 2023, there were no borrowings outstanding under the Revolving Credit Facility and we were in compliance with all covenants.

Reinsurance and Insurance Loss

Reinsurance and Insurance Loss Reserves	9 Months Ended
Reinsurance and Insurance Loss Reserves	Dec. 30, 2023
Insurance [Abstract]
Reinsurance and Insurance Loss Reserves	Reinsurance and Insurance Loss Reserves Certain of Standard Casualty's premiums and benefits are assumed from and ceded to other insurance companies under various reinsurance agreements. We remain obligated for amounts ceded in the event that the reinsurers do not meet their obligations. The effects of reinsurance on premiums written and earned were as follows (in thousands): Three Months Ended December 30, 2023 December 31, 2022 Written Earned Written Earned Direct premiums $ 11,135 $ 10,693 $ 7,454 $ 7,529 Assumed premiums—nonaffiliated 8,430 8,459 7,709 8,358 Ceded premiums—nonaffiliated (6,406) (6,406) (4,413) (4,413) $ 13,159 $ 12,746 $ 10,750 $ 11,474 Nine Months Ended December 30, 2023 December 31, 2022 Written Earned Written Earned Direct premiums $ 31,581 $ 28,740 $ 22,350 $ 21,917 Assumed premiums—nonaffiliated 27,735 25,880 25,555 24,526 Ceded premiums—nonaffiliated (18,971) (18,971) (13,056) (13,056) $ 40,345 $ 35,649 $ 34,849 $ 33,387 Typical insurance policies written or assumed have a maximum coverage of $0.4 million per claim, of which we cede $0.2 million of the risk of loss per reinsurance. Therefore, our risk of loss is limited to $0.2 million per claim on typical policies, subject to the reinsurers meeting their obligations. After this limit, amounts are recoverable through reinsurance for catastrophic losses in excess of $3.0 million per occurrence, up to a maximum of $100 million in the aggregate for that occurrence. Standard Casualty establishes reserves for claims and claims expense on reported and incurred but not reported ("IBNR") claims of non-reinsured losses. The following details the activity in the reserve for the three and nine months ended December 30, 2023 and December 31, 2022 (in thousands): Three Months Ended Nine Months Ended December 30, December 31, December 30, December 31, Balance at beginning of period $ 9,154 $ 7,790 $ 10,939 $ 8,149 Net incurred losses during the period 9,489 8,464 29,152 25,050 Net claim payments during the period (9,189) (7,163) (30,637) (24,108) Balance at end of period $ 9,454 $ 9,091 $ 9,454 $ 9,091

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Dec. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Repurchase Contingencies . The maximum amount for which the Company was liable under the terms of repurchase agreements with financial institutions that provide inventory financing to independent distributors of our products approximated $116 million and $178 million at December 30, 2023 and April 1, 2023, respectively, without reduction for the estimated resale value of the homes. During the third quarter of fiscal 2024, we received one repurchase demand notice for three homes. During the nine months ended December 30, 2023, we received three repurchase demand notices covering nine homes, of which six homes had been repurchased by period end. In all cases, the estimated fair value exceeded the repurchase price so no loss reserve was deemed necessary. Our reserve for repurchase commitments, recorded in Accrued expenses and other current liabilities, was $2.7 million at December 30, 2023 and $5.2 million at April 1, 2023. Construction-Period Mortgages. Loan contracts with off-balance sheet commitments are summarized below (in thousands): December 30, April 1, Construction loan contract amount $ 1,361 $ 2,214 Cumulative advances (464) (706) $ 897 $ 1,508 Representations and Warranties of Mortgages Sold . The reserve for contingent repurchases and indemnification obliga tions was $0.6 million as of December 30, 2023 and $0.7 million as of April 1, 2023, included in Accrued expenses and other current liabilities on the Consolidated Balance Sheets. There were no claim requests that resulted in the repurchase of any loans during the nine months ended December 30, 2023 or December 31, 2022 . Interest Rate Lock Commitments ("IRLCs") . As of December 30, 2023 and April 1, 2023, w e had outstanding IRLCs with a notional amount of $24.1 million and $64.9 million, respectively. For the three and nine months ended December 30, 2023, we recognized insignificant non-cash gains and losses, respectively, on outstanding IRLCs. For the three and nine months ended December 31, 2022, we recognized insignificant non-cash gains on outstanding IRLCs. Forward Sales Commitments . As of December 30, 2023 and April 1, 2023, we had $0.8 million and $1.6 million in outstanding forward sales commitments ("Commitments"), respectively. During the three and nine months ended December 30, 2023, we recognized insignificant non-cash losses. During the three and nine months ended December 31, 2022, we recognized non-cash losses of $0.2 million and $0.3 million, respectively, relating to our Commitments. Legal Matters. We are party to certain lawsuits in the ordinary course of business. Based on management's present knowledge of the facts and (in certain cases) advice of outside counsel, management does not believe that loss contingencies arising from pending matters are likely to have a material adverse effect on our consolidated financial position, liquidity or results of operations after taking into account any existing reserves, which reserves are included in Accrued expenses and other current liabilities on the Consolidated Balance Sheets. However, future events or circumstances that may currently be unknown to management will determine whether the resolution of pending or threatened litigation or claims will ultimately have a material effect on our consolidated financial position, liquidity or results of operations in any future reporting periods.
Legal Matters	Legal Matters. We are party to certain lawsuits in the ordinary course of business. Based on management's present knowledge of the facts and (in certain cases) advice of outside counsel, management does not believe that loss contingencies arising from pending matters are likely to have a material adverse effect on our consolidated financial position, liquidity or results of operations after taking into account any existing reserves, which reserves are included in Accrued expenses and other current liabilities on the Consolidated Balance Sheets. However, future events or circumstances that may currently be unknown to management will determine whether the resolution of pending or threatened litigation or claims will ultimately have a material effect on our consolidated financial position, liquidity or results of operations in any future reporting periods.

Stockholders' Equity and Redeem

Stockholders' Equity and Redeemable Noncontrolling Interest	9 Months Ended
Stockholders' Equity and Redeemable Noncontrolling Interest	Dec. 30, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity and Redeemable Noncontrolling Interest	Stockholders' Equity and Redeemable Noncontrolling Interest The following table represents changes in stockholders' equity attributable to Cavco's stockholders and redeemable noncontrolling interest during the nine months ended December 30, 2023 (dollars in thousands): Equity Attributable to Cavco Stockholders Treasury stock Additional paid-in capital Retained earnings Accumulated other comprehensive income (loss) Total Redeemable noncontrolling interest Common Stock Shares Amount Balance, April 1, 2023 9,337,125 $ 93 $ (164,452) $ 271,950 $ 869,310 $ (615) $ 976,286 $ 1,219 Net income — — — — 46,357 — 46,357 54 Other comprehensive loss, net — — — — — (42) (42) — Issuance of common stock under stock incentive plans, net 10,095 — — (1,213) — — (1,213) — Stock-based compensation — — — 1,438 — — 1,438 — Distributions — — — — — — — (120) Valuation adjustment — — — — — — — (33) Balance, July 1, 2023 9,347,220 93 (164,452) 272,175 915,667 (657) 1,022,826 1,120 Net income — — — — 41,539 — 41,539 34 Other comprehensive income, net — — — — — 54 54 — Issuance of common stock under stock incentive plans, net 9,201 1 — 478 — — 479 — Stock-based compensation — — — 1,551 — — 1,551 — Common stock repurchases — — (47,194) — — — (47,194) — Distributions — — — — — — — (180) Conversion to mandatorily redeemable noncontrolling interest — — — — — — — (974) Balance, September 30, 2023 9,356,421 94 (211,646) 274,204 957,206 (603) 1,019,255 — Net income — — — — 35,987 — 35,987 — Other comprehensive income, net — — — — — 241 241 — Issuance of common stock under stock incentive plans, net 24,726 — — 1,934 — — 1,934 — Stock-based compensation — — — 1,709 — — 1,709 — Common stock repurchases — — (50,426) — — — (50,426) — Balance, December 30, 2023 9,381,147 $ 94 $ (262,072) $ 277,847 $ 993,193 $ (362) $ 1,008,700 $ — The following table represents changes in stockholders' equity attributable to Cavco's stockholders and redeemable noncontrolling interest during the nine months ended December 31, 2022 (dollars in thousands): Equity Attributable to Cavco Stockholders Treasury stock Additional paid-in capital Retained earnings Accumulated other comprehensive income (loss) Total Redeemable noncontrolling interest Common Stock Shares Amount Balance, April 2, 2022 9,292,278 $ 93 $ (61,040) $ 263,049 $ 628,756 $ (403) $ 830,455 $ 825 Net income — — — — 59,602 — 59,602 92 Other comprehensive loss, net — — — — — (112) (112) — Issuance of common stock under stock incentive plans, net 5,957 — — (848) — — (848) — Stock-based compensation — — — 1,425 — — 1,425 — Common stock repurchases — — (38,960) — — — (38,960) — Distributions — — — — — — — (240) Balance, July 2, 2022 9,298,235 93 (100,000) 263,626 688,358 (515) 851,562 677 Net income — — — — 74,116 — 74,116 82 Other comprehensive loss, net — — — — — (303) (303) — Issuance of common stock under stock incentive plans, net 15,917 — — 1,457 — — 1,457 — Stock-based compensation — — — 2,100 — — 2,100 — Distributions — — — — — — — (240) Valuation adjustment — — — — — — — 407 Balance, October 1, 2022 9,314,152 93 (100,000) 267,183 762,474 (818) 928,932 926 Net income — — — — 59,524 — 59,524 65 Other comprehensive income, net — — — — — 74 74 — Issuance of common stock under stock incentive plans, net 5,548 — — (90) — — (90) — Stock-based compensation — — — 1,330 — — 1,330 — Common stock repurchases — — (34,270) — — — (34,270) — Distributions — — — — — — — (120) Valuation adjustment — — — — — — — 61 Balance, December 31, 2022 9,319,700 $ 93 $ (134,270) $ 268,423 $ 821,998 $ (744) $ 955,500 $ 932

Earnings Per Share

Earnings Per Share	9 Months Ended
Earnings Per Share	Dec. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted earnings per share (dollars in thousands, except per share amounts): Three Months Ended Nine Months Ended December 30, December 31, December 30, December 31, Net income attributable to Cavco common stockholders $ 35,987 $ 59,524 $ 123,883 $ 193,242 Weighted average shares outstanding Basic 8,358,389 8,870,565 8,561,209 8,897,405 Effect of dilutive securities 74,082 65,510 79,079 71,699 Diluted 8,432,471 8,936,075 8,640,288 8,969,104 Net income per share attributable to Cavco common stockholders Basic $ 4.31 $ 6.71 $ 14.47 $ 21.72 Diluted $ 4.27 $ 6.66 $ 14.34 $ 21.55 Anti-dilutive common stock equivalents excluded — 930 316 776

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Dec. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The book value and estimated fair value of our financial instruments were as follows (in thousands): December 30, 2023 April 1, 2023 Book Estimated Book Estimated Available-for-sale debt securities $ 19,207 $ 19,207 $ 18,555 $ 18,555 Marketable equity securities 8,788 8,788 9,989 9,989 Non-marketable equity investments 4,923 4,923 5,073 5,073 Consumer loans receivable 36,134 41,661 44,148 50,686 Commercial loans receivable 92,572 78,191 101,977 97,106 Other secured financing (1,942) (1,894) (2,379) (2,332) See Note 20, Fair Value Measurements, and the Fair Value of Financial Instruments caption in Note 1, Summary of Significant Accounting Policies, in the Form 10-K for more information on the methodologies we use in determining fair value. Mortgage Servicing . Mortgage Servicing Rights ("MSRs") are recorded at fair value in Prepaid expenses and other current assets on the Consolidated Balance Sheets. December 30, April 1, Number of loans serviced with MSRs 3,894 4,070 Weighted average servicing fee (basis points) 34.79 34.71 Capitalized servicing multiple 187.1 % 98.99 % Capitalized servicing rate (basis points) 65.10 34.36 Serviced portfolio with MSRs (in thousands) $ 491,887 $ 520,458 MSRs (in thousands) $ 3,202 $ 1,788

Related Party Transactions

Related Party Transactions	9 Months Ended
Related Party Transactions	Dec. 30, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions We have non-marketable equity investments in other distribution operations outside of Company-owned retail stores. In the ordinary course of business, we sell homes and lend to certain of these operations through our commercial lending programs. For the three and nine months ended December 30, 2023, the total amount of sales to related parties was $11.6 million and $42.6 million, respectively. For the three and nine months ended December 31, 2022, the total amount of sales to related parties was $18.7 million and $56.0 million, respectively. As of December 30, 2023, receivables from related parties included $6.5 million of accounts receivable and $4.9 million of commercial loans outstanding. As of April 1, 2023, receivables from related parties included $5.7 million of accounts receivable and $4.7 million of commercial loans outstanding.

Acquisitions

Acquisitions	9 Months Ended
Acquisitions	Dec. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Solitaire Acquisition On January 3, 2023 (the "Acquisition Date"), we completed the acquisition of Solitaire Homes, including their four manufacturing facilities and 22 retail locations, by acquiring 100% of the outstanding stock of Solitaire Homes for $110.8 million. Our estimates of the fair values of the assets that we acquired and the liabilities that we assumed were based on the information that was available as of the Acquisition Date. During the nine months ended December 30, 2023, we made certain adjustments to the assets and liabilities based on information that became available. The following table presents the fair values of the assets that we acquired and the liabilities that we assumed on the Acquisition Date as of December 30, 2023 (in thousands): January 3, Adjustments January 3, 2023 Cash $ 5,119 $ (79) $ 5,040 Investments 334 — 334 Accounts receivable 3,536 (787) 2,749 Inventories 58,045 (143) 57,902 Property, plant and equipment 36,109 (103) 36,006 Other current assets 1,519 59 1,578 Intangible assets 3,400 — 3,400 Total identifiable assets acquired 108,062 (1,053) 107,009 Accounts payable and accrued liabilities 11,251 84 11,335 Net identifiable assets acquired 96,811 (1,137) 95,674 Goodwill 13,970 1,137 15,107 Net assets acquired $ 110,781 $ — $ 110,781 Pro Forma Impact of Solitaire Acquisition (Unaudited) . The following table presents supplemental pro forma information as if the above acquisition had occurred on April 3, 2022 (in thousands, except per share data): December 31, 2022 Three Months Ended Nine Months Ended Net revenue $ 536,776 $ 1,774,853 Net income attributable to Cavco common stockholders 61,567 199,371 Diluted net income per share 6.89 22.23 Kentucky Dream Homes Acquisition

Business Segment Information

Business Segment Information	9 Months Ended
Business Segment Information	Dec. 30, 2023
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information We operate principally in two segments: (1) factory-built housing, which includes wholesale and retail factory-built housing operations, and (2) financial services, which includes manufactured housing consumer finance and insurance. The following table provides selected financial data by segment (in thousands): Three Months Ended Nine Months Ended December 30, December 31, December 30, December 31, Net revenue: Factory-built housing $ 426,939 $ 481,193 $ 1,318,114 $ 1,613,392 Financial services 19,830 19,410 56,560 52,941 $ 446,769 $ 500,603 $ 1,374,674 $ 1,666,333 Income before income taxes: Factory-built housing $ 42,070 $ 71,813 $ 154,121 $ 241,959 Financial services 1,837 4,268 2,124 6,243 $ 43,907 $ 76,081 $ 156,245 $ 248,202 December 30, April 1, Total assets: Factory-built housing $ 1,125,581 $ 1,107,555 Financial services 201,015 200,420 $ 1,326,596 $ 1,307,975

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Dec. 30, 2023	Sep. 30, 2023	Jul. 01, 2023	Dec. 31, 2022	Oct. 01, 2022	Jul. 02, 2022	Dec. 30, 2023	Dec. 31, 2022
Pay vs Performance Disclosure
Net income attributable to Cavco common stockholders	$ 35,987	$ 41,539	$ 46,357	$ 59,524	$ 74,116	$ 59,602	$ 123,883	$ 193,242

Insider Trading Arrangements

Insider Trading Arrangements	9 Months Ended
Insider Trading Arrangements	Dec. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
Basis of Presentation (Policies)	Dec. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	The accompanying unaudited Consolidated Financial Statements of Cavco Industries, Inc. and its subsidiaries (collectively, "we," "us," "our," the "Company" or "Cavco") have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") for Quarterly Reports on Form 10-Q and Article 10 of SEC Regulation S-X. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles ("GAAP") have been condensed or omitted pursuant to such rules and regulations. In addition, references throughout to numbered "Notes" refer to these Notes to Consolidated Financial Statements (Unaudited), unless otherwise stated. In the opinion of management, these financial statements include all adjustments, including normal recurring adjustments, which are necessary to fairly state the results for the periods presented. Certain prior period amounts have been reclassified including from Other (expense) income, net to Interest income to conform to current period classification. We have evaluated subsequent events after the balance sheet date through the date of the filing of this report with the SEC, and there were no disclosable subsequent events. These Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements and the Notes to the Consolidated Financial Statements included in our 2023 Annual Report on Form 10-K for the year ended April 1, 2023, filed with the SEC ("Form 10-K"). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the Consolidated Financial Statements and accompanying Notes. Due to uncertainties, actual results could differ from the estimates and assumptions used in preparation of the Consolidated Financial Statements. The Consolidated Statements of Comprehensive Income and Consolidated Statements of Cash Flows for the interim periods are not necessarily indicative of the results or cash flows for the full year. The Company operates on a 52-53 week fiscal year ending on the Saturday nearest to March 31 st of each year. Each fiscal quarter consists of 13 weeks, with an occasional fourth quarter extending to 14 weeks, if necessary, for the fiscal year to end on the Saturday nearest to March 31 st . The current fiscal year will end on March 30, 2024 and will include 52 weeks. We operate in two segments: (1) factory-built housing, which includes wholesale and retail factory-built housing operations, and (2) financial services, which includes manufactured housing consumer finance and insurance. We design and build a wide variety of affordable manufactured homes, modular homes and park model RVs through 29 homebuilding production lines located throughout the United States and two production lines in Mexico. We distribute our homes through a large network of independent distribution points in 48 states and Canada as well as 73 Company-owned U.S. retail stores, of which 43 are located in Texas. The financial services segment is comprised of a finance subsidiary, CountryPlace Acceptance Corp. ("CountryPlace"), and an insurance subsidiary, Standard Casualty Company ("Standard Casualty"). CountryPlace is an approved Federal National Mortgage Association and Federal Home Loan Mortgage Corporation seller/servicer and a Government National Mortgage Association ("GNMA") mortgage-backed securities issuer that offers conforming mortgages, non-conforming mortgages and home-only loans to purchasers of factory-built homes. Standard Casualty provides property and casualty insurance primarily to owners of manufactured homes. During fiscal 2023, we completed the acquisition of Solitaire Inc. and other related entities (collectively "Solitaire Homes"), including their four manufacturing facilities and twenty-two retail locations by acquiring 100% of the outstanding stock of Solitaire Homes. The results of operations are included in our Consolidated Financial Statements from the date of acquisition. See Note 21, Acquisition. At December 30, 2023 we have a 70% interest in Craftsman Homes, LLC and Craftsman Homes Development, LLC (collectively "Craftsman"). On September 28, 2023, we executed an amendment to the Membership Interest Purchase Agreement (the "Agreement") for Craftsman to acquire the remaining 30% interest in Craftsman for cash on December 31, 2023. An additional amendment was signed in December 2023 to move the acquisition date to January 1, 2024. As the entire 30% is mandatorily redeemable, the value attributed to this noncontrolling interest at December 30, 2023 is included in Accrued expenses and other current liabilities on the Consolidated Balance Sheets at fair value. On January 1, 2024 we acquired the remaining 30% interest in Craftsman for cash. On November 15, 2023, the Company acquired certain assets and liabilities of Kentucky Dream Homes, LLC, a manufactured home retailer with locations in Kentucky and Florida. The results of operations are included in our Consolidated Financial Statements from the date of acquisition. See Note 21, Acquisition
Significant Accounting Policies	For a description of significant accounting policies we used in the preparation of our Consolidated Financial Statements, please refer to Note 1 of the Notes to Consolidated Financial Statements included in the Form 10-K.

Commitments and Contingencies (

Commitments and Contingencies (Policies)	9 Months Ended
Commitments and Contingencies (Policies)	Dec. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Repurchase Contingencies	Repurchase Contingencies . The
Representations and Warranties of Mortgages Sold	Representations and Warranties of Mortgages Sold . The reserve for contingent repurchases and indemnification obliga tions was $0.6 million as of December 30, 2023 and $0.7 million as of April 1, 2023, included in Accrued expenses and other current liabilities on the Consolidated Balance Sheets. There were no claim requests that resulted in the repurchase of any loans during the nine months ended December 30, 2023 or December 31, 2022 .
Derivatives	Interest Rate Lock Commitments ("IRLCs") . As of December 30, 2023 and April 1, 2023, w e had outstanding IRLCs with a notional amount of $24.1 million and $64.9 million, respectively. For the three and nine months ended December 30, 2023, we recognized insignificant non-cash gains and losses, respectively, on outstanding IRLCs. For the three and nine months ended December 31, 2022, we recognized insignificant non-cash gains on outstanding IRLCs. Forward Sales Commitments . As of December 30, 2023 and April 1, 2023, we had $0.8 million and $1.6 million in outstanding forward sales commitments ("Commitments"), respectively. During the three and nine months ended December 30, 2023, we recognized insignificant non-cash losses. During the three and nine months ended December 31, 2022, we recognized non-cash losses of $0.2 million and $0.3 million, respectively, relating to our Commitments.

Fair Value Measurements (Polici

Fair Value Measurements (Policies)	9 Months Ended
Fair Value Measurements (Policies)	Dec. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurement and Disclosures	See Note 20, Fair Value Measurements, and the Fair Value of Financial Instruments caption in Note 1, Summary of Significant Accounting Policies, in the Form 10-K for more information on the methodologies we use in determining fair value.
Transfers and Servicing of Financial Assets	Mortgage Servicing . Mortgage Servicing Rights ("MSRs") are recorded at fair value in Prepaid expenses and other current assets on the Consolidated Balance Sheets.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
Revenue from Contracts with Customers (Tables)	Dec. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table summarizes Net revenue disaggregated by reportable segment and source (in thousands): Three Months Ended Nine Months Ended December 30, 2023 December 31, 2022 December 30, December 31, Factory-built housing Home sales $ 400,633 $ 455,459 $ 1,250,417 $ 1,555,236 Delivery, setup and other revenues 26,306 25,734 67,697 58,156 426,939 481,193 1,318,114 1,613,392 Financial services Insurance agency commissions received from third-party insurance companies 1,229 887 3,145 3,313 All other sources 18,601 18,523 53,415 49,628 19,830 19,410 56,560 52,941 $ 446,769 $ 500,603 $ 1,374,674 $ 1,666,333

Investments (Tables)

Investments (Tables)	9 Months Ended
Investments (Tables)	Dec. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Investments	Investments consisted of the following (in thousands): December 30, April 1, Available-for-sale debt securities $ 19,207 $ 18,555 Marketable equity securities 8,788 9,989 Non-marketable equity investments 4,923 5,073 32,918 33,617 Less short-term investments (16,819) (14,978) $ 16,099 $ 18,639
Amortized cost and fair value by security type	The amortized cost and fair value of our investments in available-for-sale debt securities, by security type are shown in the table below (in thousands): December 30, 2023 April 1, 2023 Amortized Fair Amortized Cost Fair Residential mortgage-backed securities $ 1,888 $ 1,836 $ 2,567 $ 2,488 State and political subdivision debt securities 5,652 5,515 6,023 5,769 Corporate debt securities 12,124 11,856 10,745 10,298 $ 19,664 $ 19,207 $ 19,335 $ 18,555
Contractual Maturity of Investment Securities	The amortized cost and fair value of our investments in available-for-sale debt securities, by contractual maturity, are shown in the table below (in thousands). Expected maturities differ from contractual maturities as borrowers may have the right to call or prepay obligations, with or without penalties. December 30, 2023 Amortized Fair Due in less than one year $ 7,585 $ 7,453 Due after one year through five years 9,804 9,532 Due after five years through ten years — — Due after ten years 387 386 Mortgage-backed securities 1,888 1,836 $ 19,664 $ 19,207
Gain (Loss) on Securities	Net investment gains and losses on marketable equity securities were as follows (in thousands): Three Months Ended Nine Months Ended December 30, December 31, December 30, December 31, Marketable equity securities Net gain (loss) recognized during the period $ 776 $ 707 $ 1,051 $ (1,868) Less: Net (gain) loss recognized on securities sold during the period (235) (107) (365) 183 Unrealized gain (loss) recognized during the period on securities still held $ 541 $ 600 $ 686 $ (1,685)

Inventories (Tables)

Inventories (Tables)	9 Months Ended
Inventories (Tables)	Dec. 30, 2023
Inventory Disclosure [Abstract]
Summary of inventories	Inventories consisted of the following (in thousands): December 30, April 1, Raw materials $ 80,630 $ 92,045 Work in process 25,969 29,022 Finished goods 130,050 142,083 $ 236,649 $ 263,150

Consumer Loans Receivable (Tabl

Consumer Loans Receivable (Tables)	9 Months Ended
Consumer Loans Receivable (Tables)	Dec. 30, 2023
Receivables [Abstract]
Consumer Loans Receivable	The following table summarizes consumer loans receivable (in thousands): December 30, April 1, Loans held for investment, previously securitized $ 18,001 $ 21,000 Loans held for investment 12,901 13,117 Loans held for sale 6,236 10,846 Construction advances 464 706 37,602 45,669 Deferred financing fees and other, net (362) (368) Allowance for loan losses (1,106) (1,153) 36,134 44,148 Less current portion (11,855) (17,019) $ 24,279 $ 27,129
Deliquency Status of Consumer Loans	The following table is a consolidated summary of the delinquency status of the outstanding principal balance of consumer loans receivable (in thousands): December 30, April 1, Current $ 35,403 $ 43,252 31 to 60 days 951 1,247 61 to 90 days 311 213 91+ days 937 957 $ 37,602 $ 45,669
Gross Consumer Loans Receivable by Credit Quality and Fiscal Year of Origination	The following table disaggregates the outstanding principal balance of consumer loans receivable by credit quality indicator and fiscal year of origination (in thousands): December 30, 2023 2024 2023 2022 2021 2020 Prior Total Prime- FICO score 680 and greater $ 5,628 $ 329 $ 97 $ 985 $ 1,914 $ 15,413 $ 24,366 Near Prime- FICO score 620-679 744 — — 1,208 949 9,146 12,047 Sub-Prime- FICO score less than 620 — — — 18 49 803 870 No FICO score — — — — — 319 319 $ 6,372 $ 329 $ 97 $ 2,211 $ 2,912 $ 25,681 $ 37,602 April 1, 2023 2023 2022 2021 2020 2019 Prior Total Prime- FICO score 680 and greater $ 9,471 $ 185 $ 1,051 $ 1,982 $ 1,191 $ 16,601 $ 30,481 Near Prime- FICO score 620-679 1,695 — 1,012 1,131 1,550 8,244 13,632 Sub-Prime- FICO score less than 620 84 — 19 51 — 1,033 1,187 No FICO score — — — — 24 345 369 $ 11,250 $ 185 $ 2,082 $ 3,164 $ 2,765 $ 26,223 $ 45,669

Commercial Loans Receivable (Ta

Commercial Loans Receivable (Tables)	9 Months Ended
Commercial Loans Receivable (Tables)	Dec. 30, 2023
Receivables [Abstract]
Commercial Loans Receivables	Commercial loans receivable, net consisted of the following (in thousands): December 30, April 1, Loans receivable $ 94,178 $ 103,726 Allowance for loan losses (1,423) (1,586) Deferred financing fees, net (183) (163) 92,572 101,977 Less current portion of commercial loans receivable (including from affiliates), net (50,952) (44,054) $ 41,620 $ 57,923
Commercial Loans Receivables by Class and Internal Credit Quality Indicator	The following table disaggregates the outstanding principal balance of our commercial loans receivable by fiscal year of origination (in thousands): December 30, 2023 2024 2023 2022 2021 2020 Prior Total Performing $ 48,598 $ 34,344 $ 6,522 $ 2,462 $ 1,478 $ 774 $ 94,178 April 1, 2023 2023 2022 2021 2020 2019 Prior Total Performing $ 80,193 $ 16,028 $ 4,071 $ 2,203 $ 1,231 $ — $ 103,726
Geographic Concentration of Commercial Loans Receivables in Key States	As of December 30, 2023, we had concentrations of our outstanding principal balance of the commercial loans receivable balance in New York of 15% and California of 16%. As of April 1, 2023, 18% of our outstanding principal balance of the commercial loans receivable balance was in New York. No other state had concentrations in excess of 10% of the outstanding principal balance of the commercial loans receivable as of December 30, 2023 or April 1, 2023.

Property, Plant and Equipment_2

Property, Plant and Equipment, net (Tables)	9 Months Ended
Property, Plant and Equipment, net (Tables)	Dec. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, net	Property, plant and equipment, net, consisted of the following (in thousands): December 30, April 1, Property, plant and equipment, at cost Buildings and improvements $ 170,423 $ 167,291 Machinery and equipment 78,496 76,826 Land 39,822 39,822 Construction in progress 7,913 5,472 296,654 289,411 Accumulated depreciation (72,438) (61,133) $ 224,216 $ 228,278

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Dec. 30, 2023
Leases [Abstract]
Finance lease minimum future payments	The present value of future minimum payments under non-cancelable leases as of December 30, Operating Leases Finance Leases Total Remainder of fiscal 2024 $ 1,688 $ 89 $ 1,777 Fiscal 2025 7,035 356 7,391 Fiscal 2026 6,980 356 7,336 Fiscal 2027 4,545 356 4,901 Fiscal 2028 3,649 356 4,005 Fiscal 2029 3,456 356 3,812 Thereafter 20,276 10,230 30,506 47,629 12,099 59,728 Less: Amount representing interest (9,039) (5,913) (14,952) $ 38,590 $ 6,186 $ 44,776
Operating lease minimum future payments	The present value of future minimum payments under non-cancelable leases as of December 30, Operating Leases Finance Leases Total Remainder of fiscal 2024 $ 1,688 $ 89 $ 1,777 Fiscal 2025 7,035 356 7,391 Fiscal 2026 6,980 356 7,336 Fiscal 2027 4,545 356 4,901 Fiscal 2028 3,649 356 4,005 Fiscal 2029 3,456 356 3,812 Thereafter 20,276 10,230 30,506 47,629 12,099 59,728 Less: Amount representing interest (9,039) (5,913) (14,952) $ 38,590 $ 6,186 $ 44,776

Goodwill and Other Intangible_2

Goodwill and Other Intangibles, net (Tables)	9 Months Ended
Goodwill and Other Intangibles, net (Tables)	Dec. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and other intangibles	Goodwill and other intangibles, net, consisted of the following (in thousands): December 30, 2023 April 1, 2023 Gross Accumulated Net Gross Accumulated Net Indefinite-lived Goodwill $ 120,744 $ — $ 120,744 $ 114,547 $ — $ 114,547 Trademarks and trade names 16,980 — 16,980 16,980 — 16,980 State insurance licenses 1,100 — 1,100 1,100 — 1,100 138,824 — 138,824 132,627 — 132,627 Finite-lived Customer relationships 15,000 (4,965) 10,035 16,900 (5,818) 11,082 Other 1,114 (616) 498 1,114 (486) 628 $ 154,938 $ (5,581) $ 149,357 $ 150,641 $ (6,304) $ 144,337
Future amortization expense	Expected future amortization is as follows (in thousands): Remainder of fiscal year 2024 $ 392 Fiscal 2025 1,530 Fiscal 2026 1,488 Fiscal 2027 1,415 Fiscal 2028 1,299 Fiscal 2029 1,265 Thereafter 3,144 $ 10,533

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	9 Months Ended
Accrued Expenses and Other Current Liabilities (Tables)	Dec. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following (in thousands): December 30, April 1, Salaries, wages and benefits $ 41,023 $ 47,100 Customer deposits 40,698 45,193 Estimated warranties 32,822 31,368 Unearned insurance premiums 30,192 27,901 Accrued volume rebates 25,086 22,858 Accrued self-insurance 13,671 11,467 Other 63,752 76,774 $ 247,244 $ 262,661

Warranties (Tables)

Warranties (Tables)	9 Months Ended
Warranties (Tables)	Dec. 30, 2023
Product Warranties Disclosures [Abstract]
Activity in the liability for estimated warranties	Activity in the liability for estimated warranties was as follows (in thousands): Three Months Ended Nine Months Ended December 30, December 31, December 30, December 31, Balance at beginning of period $ 33,015 $ 30,841 $ 31,368 $ 26,250 Charged to costs and expenses 11,341 12,036 36,956 40,663 Payments and deductions (11,534) (11,931) (35,502) (35,967) Balance at end of period $ 32,822 $ 30,946 $ 32,822 $ 30,946

Other Liabilities (Tables)

Other Liabilities (Tables)	9 Months Ended
Other Liabilities (Tables)	Dec. 30, 2023
Debt Disclosure [Abstract]
Other Liabilities	The following table summarizes secured financings and other obligations (in thousands): December 30, April 1, Finance lease liabilities $ 6,186 $ 6,243 Mandatorily redeemable noncontrolling interest 2,796 2,268 Other secured financing 1,942 2,379 10,924 10,890 Less current portion included in Accrued expenses and other current liabilities (3,273) (3,070) $ 7,651 $ 7,820

Reinsurance and Insurance Los_2

Reinsurance and Insurance Loss Reserves (Tables)	9 Months Ended
Reinsurance and Insurance Loss Reserves (Tables)	Dec. 30, 2023
Insurance [Abstract]
Effects of Reinsurance	The effects of reinsurance on premiums written and earned were as follows (in thousands): Three Months Ended December 30, 2023 December 31, 2022 Written Earned Written Earned Direct premiums $ 11,135 $ 10,693 $ 7,454 $ 7,529 Assumed premiums—nonaffiliated 8,430 8,459 7,709 8,358 Ceded premiums—nonaffiliated (6,406) (6,406) (4,413) (4,413) $ 13,159 $ 12,746 $ 10,750 $ 11,474 Nine Months Ended December 30, 2023 December 31, 2022 Written Earned Written Earned Direct premiums $ 31,581 $ 28,740 $ 22,350 $ 21,917 Assumed premiums—nonaffiliated 27,735 25,880 25,555 24,526 Ceded premiums—nonaffiliated (18,971) (18,971) (13,056) (13,056) $ 40,345 $ 35,649 $ 34,849 $ 33,387
Loss Reserve Rollforward	Standard Casualty establishes reserves for claims and claims expense on reported and incurred but not reported ("IBNR") claims of non-reinsured losses. The following details the activity in the reserve for the three and nine months ended December 30, 2023 and December 31, 2022 (in thousands): Three Months Ended Nine Months Ended December 30, December 31, December 30, December 31, Balance at beginning of period $ 9,154 $ 7,790 $ 10,939 $ 8,149 Net incurred losses during the period 9,489 8,464 29,152 25,050 Net claim payments during the period (9,189) (7,163) (30,637) (24,108) Balance at end of period $ 9,454 $ 9,091 $ 9,454 $ 9,091

Commitments and Contingencies_2

Commitments and Contingencies (Tables)	9 Months Ended
Commitments and Contingencies (Tables)	Dec. 30, 2023
Repurchase Contingencies [Roll Forward]
Loan Contracts with Off-Balance Sheet Commitments	Construction-Period Mortgages. Loan contracts with off-balance sheet commitments are summarized below (in thousands): December 30, April 1, Construction loan contract amount $ 1,361 $ 2,214 Cumulative advances (464) (706) $ 897 $ 1,508

Stockholders' Equity and Rede_2

Stockholders' Equity and Redeemable Noncontrolling Interest (Tables)	9 Months Ended
	Dec. 30, 2023
Stockholders' Equity Note [Abstract]
Schedule of Stockholders' Equity and Redeemable Noncontrolling Interest	The following table represents changes in stockholders' equity attributable to Cavco's stockholders and redeemable noncontrolling interest during the nine months ended December 30, 2023 (dollars in thousands): Equity Attributable to Cavco Stockholders Treasury stock Additional paid-in capital Retained earnings Accumulated other comprehensive income (loss) Total Redeemable noncontrolling interest Common Stock Shares Amount Balance, April 1, 2023 9,337,125 $ 93 $ (164,452) $ 271,950 $ 869,310 $ (615) $ 976,286 $ 1,219 Net income — — — — 46,357 — 46,357 54 Other comprehensive loss, net — — — — — (42) (42) — Issuance of common stock under stock incentive plans, net 10,095 — — (1,213) — — (1,213) — Stock-based compensation — — — 1,438 — — 1,438 — Distributions — — — — — — — (120) Valuation adjustment — — — — — — — (33) Balance, July 1, 2023 9,347,220 93 (164,452) 272,175 915,667 (657) 1,022,826 1,120 Net income — — — — 41,539 — 41,539 34 Other comprehensive income, net — — — — — 54 54 — Issuance of common stock under stock incentive plans, net 9,201 1 — 478 — — 479 — Stock-based compensation — — — 1,551 — — 1,551 — Common stock repurchases — — (47,194) — — — (47,194) — Distributions — — — — — — — (180) Conversion to mandatorily redeemable noncontrolling interest — — — — — — — (974) Balance, September 30, 2023 9,356,421 94 (211,646) 274,204 957,206 (603) 1,019,255 — Net income — — — — 35,987 — 35,987 — Other comprehensive income, net — — — — — 241 241 — Issuance of common stock under stock incentive plans, net 24,726 — — 1,934 — — 1,934 — Stock-based compensation — — — 1,709 — — 1,709 — Common stock repurchases — — (50,426) — — — (50,426) — Balance, December 30, 2023 9,381,147 $ 94 $ (262,072) $ 277,847 $ 993,193 $ (362) $ 1,008,700 $ — The following table represents changes in stockholders' equity attributable to Cavco's stockholders and redeemable noncontrolling interest during the nine months ended December 31, 2022 (dollars in thousands): Equity Attributable to Cavco Stockholders Treasury stock Additional paid-in capital Retained earnings Accumulated other comprehensive income (loss) Total Redeemable noncontrolling interest Common Stock Shares Amount Balance, April 2, 2022 9,292,278 $ 93 $ (61,040) $ 263,049 $ 628,756 $ (403) $ 830,455 $ 825 Net income — — — — 59,602 — 59,602 92 Other comprehensive loss, net — — — — — (112) (112) — Issuance of common stock under stock incentive plans, net 5,957 — — (848) — — (848) — Stock-based compensation — — — 1,425 — — 1,425 — Common stock repurchases — — (38,960) — — — (38,960) — Distributions — — — — — — — (240) Balance, July 2, 2022 9,298,235 93 (100,000) 263,626 688,358 (515) 851,562 677 Net income — — — — 74,116 — 74,116 82 Other comprehensive loss, net — — — — — (303) (303) — Issuance of common stock under stock incentive plans, net 15,917 — — 1,457 — — 1,457 — Stock-based compensation — — — 2,100 — — 2,100 — Distributions — — — — — — — (240) Valuation adjustment — — — — — — — 407 Balance, October 1, 2022 9,314,152 93 (100,000) 267,183 762,474 (818) 928,932 926 Net income — — — — 59,524 — 59,524 65 Other comprehensive income, net — — — — — 74 74 — Issuance of common stock under stock incentive plans, net 5,548 — — (90) — — (90) — Stock-based compensation — — — 1,330 — — 1,330 — Common stock repurchases — — (34,270) — — — (34,270) — Distributions — — — — — — — (120) Valuation adjustment — — — — — — — 61 Balance, December 31, 2022 9,319,700 $ 93 $ (134,270) $ 268,423 $ 821,998 $ (744) $ 955,500 $ 932

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
Earnings Per Share (Tables)	Dec. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share Computation	The following table sets forth the computation of basic and diluted earnings per share (dollars in thousands, except per share amounts): Three Months Ended Nine Months Ended December 30, December 31, December 30, December 31, Net income attributable to Cavco common stockholders $ 35,987 $ 59,524 $ 123,883 $ 193,242 Weighted average shares outstanding Basic 8,358,389 8,870,565 8,561,209 8,897,405 Effect of dilutive securities 74,082 65,510 79,079 71,699 Diluted 8,432,471 8,936,075 8,640,288 8,969,104 Net income per share attributable to Cavco common stockholders Basic $ 4.31 $ 6.71 $ 14.47 $ 21.72 Diluted $ 4.27 $ 6.66 $ 14.34 $ 21.55 Anti-dilutive common stock equivalents excluded — 930 316 776

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Dec. 30, 2023
Fair Value Disclosures [Abstract]
Summary of the Fair Value and Carrying Value of Financial Instruments	The book value and estimated fair value of our financial instruments were as follows (in thousands): December 30, 2023 April 1, 2023 Book Estimated Book Estimated Available-for-sale debt securities $ 19,207 $ 19,207 $ 18,555 $ 18,555 Marketable equity securities 8,788 8,788 9,989 9,989 Non-marketable equity investments 4,923 4,923 5,073 5,073 Consumer loans receivable 36,134 41,661 44,148 50,686 Commercial loans receivable 92,572 78,191 101,977 97,106 Other secured financing (1,942) (1,894) (2,379) (2,332)
Assumptions for Mortgage Servicing Rights	December 30, April 1, Number of loans serviced with MSRs 3,894 4,070 Weighted average servicing fee (basis points) 34.79 34.71 Capitalized servicing multiple 187.1 % 98.99 % Capitalized servicing rate (basis points) 65.10 34.36 Serviced portfolio with MSRs (in thousands) $ 491,887 $ 520,458 MSRs (in thousands) $ 3,202 $ 1,788

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
Acquisitions (Tables)	Dec. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Solitaire Acquisition On January 3, 2023 (the "Acquisition Date"), we completed the acquisition of Solitaire Homes, including their four manufacturing facilities and 22 retail locations, by acquiring 100% of the outstanding stock of Solitaire Homes for $110.8 million. Our estimates of the fair values of the assets that we acquired and the liabilities that we assumed were based on the information that was available as of the Acquisition Date. During the nine months ended December 30, 2023, we made certain adjustments to the assets and liabilities based on information that became available. The following table presents the fair values of the assets that we acquired and the liabilities that we assumed on the Acquisition Date as of December 30, 2023 (in thousands): January 3, Adjustments January 3, 2023 Cash $ 5,119 $ (79) $ 5,040 Investments 334 — 334 Accounts receivable 3,536 (787) 2,749 Inventories 58,045 (143) 57,902 Property, plant and equipment 36,109 (103) 36,006 Other current assets 1,519 59 1,578 Intangible assets 3,400 — 3,400 Total identifiable assets acquired 108,062 (1,053) 107,009 Accounts payable and accrued liabilities 11,251 84 11,335 Net identifiable assets acquired 96,811 (1,137) 95,674 Goodwill 13,970 1,137 15,107 Net assets acquired $ 110,781 $ — $ 110,781 Kentucky Dream Homes Acquisition
Pro Forma Impact of Acquisition (Unaudited)	Pro Forma Impact of Solitaire Acquisition (Unaudited) . The following table presents supplemental pro forma information as if the above acquisition had occurred on April 3, 2022 (in thousands, except per share data): December 31, 2022 Three Months Ended Nine Months Ended Net revenue $ 536,776 $ 1,774,853 Net income attributable to Cavco common stockholders 61,567 199,371 Diluted net income per share 6.89 22.23

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
Business Segment Information (Tables)	Dec. 30, 2023
Segment Reporting [Abstract]
Business Segment Information	The following table provides selected financial data by segment (in thousands): Three Months Ended Nine Months Ended December 30, December 31, December 30, December 31, Net revenue: Factory-built housing $ 426,939 $ 481,193 $ 1,318,114 $ 1,613,392 Financial services 19,830 19,410 56,560 52,941 $ 446,769 $ 500,603 $ 1,374,674 $ 1,666,333 Income before income taxes: Factory-built housing $ 42,070 $ 71,813 $ 154,121 $ 241,959 Financial services 1,837 4,268 2,124 6,243 $ 43,907 $ 76,081 $ 156,245 $ 248,202 December 30, April 1, Total assets: Factory-built housing $ 1,125,581 $ 1,107,555 Financial services 201,015 200,420 $ 1,326,596 $ 1,307,975

Basis of Presentation (Principl

Basis of Presentation (Principles of Consolidation) (Details)	3 Months Ended		9 Months Ended
	Dec. 30, 2023 store factories Segment	Dec. 31, 2022 Segment	Dec. 30, 2023 store Segment factories	Dec. 31, 2022 Segment
Number of operating segments \| Segment	2	2	2	2
Number of States in which Entity Operates	48		48
Number of Stores \| store	73		73
UNITED STATES
Number of operating production lines \| factories	29		29
MEXICO
Number of operating production lines \| factories	2		2
TEXAS
Number of Stores \| store	43		43

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Disaggregation of Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 446,769	$ 500,603	$ 1,374,674	$ 1,666,333
Factory-built housing
Disaggregation of Revenue [Line Items]
Revenues	426,939	481,193	1,318,114	1,613,392
Factory-built housing \| Manufactured Product, Other
Disaggregation of Revenue [Line Items]
Revenues	400,633	455,459	1,250,417	1,555,236
Factory-built housing \| Factory-built housing, Other
Disaggregation of Revenue [Line Items]
Revenues	26,306	25,734	67,697	58,156
Financial Services
Disaggregation of Revenue [Line Items]
Revenues	19,830	19,410	56,560	52,941
Financial Services \| Insurance Agency Commissions
Disaggregation of Revenue [Line Items]
Revenues	1,229	887	3,145	3,313
Financial Services \| Financial services, All other sources
Disaggregation of Revenue [Line Items]
Revenues	$ 18,601	$ 18,523	$ 53,415	$ 49,628

Cash and Cash Equivalents and_2

Cash and Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023	Dec. 31, 2022	Apr. 02, 2022
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 352,808	$ 271,427
Restricted cash, current	13,215	11,728
Restricted cash	585	335
Cash, cash equivalents and restricted cash	$ 366,608	$ 283,490	$ 386,394	$ 259,334

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Investments, Debt and Equity Securities [Abstract]
Available-for-sale debt securities	$ 19,207	$ 18,555
Marketable equity securities	8,788	9,989
Non-marketable equity investments	4,923	5,073
Investments	32,918	33,617
Less short-term Investments	(16,819)	(14,978)
Long-term Investments	$ 16,099	$ 18,639

Investments (Amortized cost and

Investments (Amortized cost and fair value) (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 19,664	$ 19,335
Fair Value	19,207	18,555
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	1,888	2,567
Fair Value	1,836	2,488
State and political subdivision debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,652	6,023
Fair Value	5,515	5,769
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	12,124	10,745
Fair Value	$ 11,856	$ 10,298

Investments (Contractual Maturi

Investments (Contractual Maturities) (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Amortized Cost
Due in less than one year	$ 7,585
Due after one year through five years	9,804
Due after five years through ten years	0
Due after ten years	387
Mortgage-backed securities	1,888
Amortized Cost	19,664	$ 19,335
Fair Value
Due in less than one year	7,453
Due after one year through five years	9,532
Due after five years through ten years	0
Due after ten years	386
Mortgage-backed securities	1,836
Fair Value	$ 19,207	$ 18,555

Investments (Recognized Gains a

Investments (Recognized Gains and Losses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022
Gain (Loss) on Securities
Net gain (loss) recognized during the period	$ 776	$ 707	$ 1,051	$ (1,868)
Less: Net (gain) loss recognized on securities sold during the period	(235)	(107)	(365)	183
Unrealized gain (loss) recognized during the period on securities still held	$ 541	$ 600	$ 686	$ (1,685)

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Summary of inventories
Raw materials	$ 80,630	$ 92,045
Work in process	25,969	29,022
Finished goods	130,050	142,083
Total Inventories	$ 236,649	$ 263,150

Consumer Loans Receivable (Summ

Consumer Loans Receivable (Summary of Consumer Loans Receivable) (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Receivables [Abstract]
Loans held for investment, previously securitized	$ 18,001	$ 21,000
Loans held for investment	12,901	13,117
Loans held for sale	6,236	10,846
Construction Advances	464	706
Consumer loans receivable	37,602	45,669
Deferred financing fees and other, net	(362)	(368)
Allowance for loan losses	(1,106)	(1,153)
Consumer loans receivable, net	36,134	44,148
Less current portion	(11,855)	(17,019)
Consumer loans receivable, net	$ 24,279	$ 27,129

Consumer Loans Receivable (Loan

Consumer Loans Receivable (Loans Held for investment) (Details)	9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Weighted average contractual interest rate	8%	8.20%
Weighted average effective interest rate	8.60%	8.80%
Weighted average months to maturity	173 months	150 months

Delinquency status of consumer

Delinquency status of consumer loans (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	$ 37,602	$ 45,669
Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	35,403	43,252
31 - 60 days past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	951	1,247
61 - 90 days past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	311	213
91+ days past due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	$ 937	$ 957

Consumer Loans Receivable (Cons

Consumer Loans Receivable (Consumer Loan Receivables by Credit Quality Indicator and Year of Origination) (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	$ 37,602	$ 45,669
Fiscal 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	6,372
Fiscal 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	329	11,250
Fiscal 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	97	185
Fiscal 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	2,211	2,082
Fiscal 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	2,912	3,164
Fiscal 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable		2,765
Fiscal 2019 and prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	25,681
Fiscal 2018 and prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable		26,223
Prime- FICO score 680 and greater
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	24,366	30,481
Prime- FICO score 680 and greater \| Fiscal 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	5,628
Prime- FICO score 680 and greater \| Fiscal 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	329	9,471
Prime- FICO score 680 and greater \| Fiscal 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	97	185
Prime- FICO score 680 and greater \| Fiscal 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	985	1,051
Prime- FICO score 680 and greater \| Fiscal 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	1,914	1,982
Prime- FICO score 680 and greater \| Fiscal 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable		1,191
Prime- FICO score 680 and greater \| Fiscal 2019 and prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	15,413
Prime- FICO score 680 and greater \| Fiscal 2018 and prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable		16,601
Near Prime- FICO score 620-679
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	12,047	13,632
Near Prime- FICO score 620-679 \| Fiscal 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	744
Near Prime- FICO score 620-679 \| Fiscal 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	0	1,695
Near Prime- FICO score 620-679 \| Fiscal 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	0	0
Near Prime- FICO score 620-679 \| Fiscal 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	1,208	1,012
Near Prime- FICO score 620-679 \| Fiscal 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	949	1,131
Near Prime- FICO score 620-679 \| Fiscal 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable		1,550
Near Prime- FICO score 620-679 \| Fiscal 2019 and prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	9,146
Near Prime- FICO score 620-679 \| Fiscal 2018 and prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable		8,244
Sub-Prime- FICO score less than 620
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	870	1,187
Sub-Prime- FICO score less than 620 \| Fiscal 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	0
Sub-Prime- FICO score less than 620 \| Fiscal 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	0	84
Sub-Prime- FICO score less than 620 \| Fiscal 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	0	0
Sub-Prime- FICO score less than 620 \| Fiscal 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	18	19
Sub-Prime- FICO score less than 620 \| Fiscal 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	49	51
Sub-Prime- FICO score less than 620 \| Fiscal 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable		0
Sub-Prime- FICO score less than 620 \| Fiscal 2019 and prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	803
Sub-Prime- FICO score less than 620 \| Fiscal 2018 and prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable		1,033
No FICO Score
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	319	369
No FICO Score \| Fiscal 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	0
No FICO Score \| Fiscal 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	0	0
No FICO Score \| Fiscal 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	0	0
No FICO Score \| Fiscal 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	0	0
No FICO Score \| Fiscal 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	0	0
No FICO Score \| Fiscal 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable		24
No FICO Score \| Fiscal 2019 and prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable	$ 319
No FICO Score \| Fiscal 2018 and prior
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer loans receivable		$ 345

Consumer Loans Receivable (Narr

Consumer Loans Receivable (Narrative) (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Repossessed Homes	$ 800	$ 1,100
Mortgage Loans in Process of Foreclosure, Amount	$ 400	$ 500
TEXAS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer Loans Receivable Geographical Concentration Percentage	42%	44%
FLORIDA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Consumer Loans Receivable Geographical Concentration Percentage	14%	13%

Commercial Loans Receivable (Co

Commercial Loans Receivable (Commercial Loans Receivable, Net) (Details) - Commercial Loans Receivable - USD ($) $ in Thousands	9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Apr. 01, 2023
Commercial Loans Receivable
Commercial loans receivable	$ 94,178		$ 103,726
Allowance for loan loss	(1,423)		(1,586)
Deferred financing fees, net	(183)		(163)
Total commercial loans, net	92,572		101,977
Less current portion of commercial loans receivable (including from affiliates), net	(50,952)		(44,054)
Commercial loans receivable (including from affiliates), noncurrent	$ 41,620		$ 57,923
Weighted average contractual interest rate, commercial	6.50%	7.60%
Weighted average months outstanding, commercial	11 months	9 months

Commercial Loans Receivable (_2

Commercial Loans Receivable (Commercial Loans Receivable by Credit Quality Indicator and Year of Origination) (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Performing
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	$ 94,178	$ 103,726
Performing \| Fiscal 2024
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	48,598
Performing \| Fiscal 2023
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	34,344	80,193
Performing \| Fiscal 2022
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	6,522	16,028
Performing \| Fiscal 2021
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	2,462	4,071
Performing \| Fiscal 2020
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	1,478	2,203
Performing \| Fiscal 2019
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable		1,231
Performing \| Fiscal 2019 and prior
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	774
Performing \| Fiscal 2018 and prior
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable		0
Watch list \| Fiscal 2024
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	0
Watch list \| Fiscal 2023
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	0	0
Watch list \| Fiscal 2022
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	0	0
Watch list \| Fiscal 2021
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	0	0
Watch list \| Fiscal 2020
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	0	0
Watch list \| Fiscal 2019
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable		0
Watch list \| Fiscal 2019 and prior
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	0
Watch list \| Fiscal 2018 and prior
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable		0
Nonperforming \| Fiscal 2024
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	0
Nonperforming \| Fiscal 2023
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	0	0
Nonperforming \| Fiscal 2022
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	0	0
Nonperforming \| Fiscal 2021
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	0	0
Nonperforming \| Fiscal 2020
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	0	0
Nonperforming \| Fiscal 2019
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable		0
Nonperforming \| Fiscal 2019 and prior
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable	$ 0
Nonperforming \| Fiscal 2018 and prior
Financing Receivable Recorded Investment [Line Items]
Commercial loans receivable		$ 0

Commercial Loans Receivable (_3

Commercial Loans Receivable (Concentrations of Commercial Loans Receivables) (Details)	Dec. 30, 2023	Apr. 01, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration with one independent third-party and its affiliates	14%	12%
Geographic Concentration of Commercial Loans Receivables in Key States
Concentration Risk on Financing Receivables Percentage	10%	10%
NEW YORK
Geographic Concentration of Commercial Loans Receivables in Key States
Commercial Loans Receivables Geographic Concentration Percentage	15%	18%
CALIFORNIA
Geographic Concentration of Commercial Loans Receivables in Key States
Commercial Loans Receivables Geographic Concentration Percentage	16%

Commercial Loans Receivable (Na

Commercial Loans Receivable (Narrative) (Details) $ in Thousands	9 Months Ended
	Dec. 30, 2023 USD ($)
Receivables [Abstract]
Commercial loans 90 days past due still accruing interest	$ 0
Due days for loans on nonaccrual status when interest is past due and remains unpaid	90 days

Property, Plant and Equipment_3

Property, Plant and Equipment, net (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Property, plant and equipment
Property, plant and equipment, at cost	$ 296,654	$ 289,411
Accumulated depreciation	(72,438)	(61,133)
Property, plant and equipment, net	224,216	228,278
Land
Property, plant and equipment
Property, plant and equipment, at cost	39,822	39,822
Buildings and improvements
Property, plant and equipment
Property, plant and equipment, at cost	170,423	167,291
Machinery and equipment
Property, plant and equipment
Property, plant and equipment, at cost	78,496	76,826
Construction in progress
Property, plant and equipment
Property, plant and equipment, at cost	$ 7,913	$ 5,472

Property, Plant and Equipment_4

Property, Plant and Equipment, net (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation	$ 4.2	$ 3.4	$ 12.7	$ 10.7

Leases (ROU Asset and Liability

Leases (ROU Asset and Liability) (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Leases [Abstract]
Operating Lease, Right-of-Use Asset	$ 37,393	$ 26,755
Finance lease assets	6,351	6,088
Total lease assets	43,744	32,843
Operating Lease, Liability, Current	5,305	6,262
Finance Lease, Liability, Current	79	347
Operating lease liabilities	33,285	21,678
Long term lease liabilities	6,107	5,896
Total lease liabilities	44,776	34,183
Accumulated Amortization	$ 400	$ 300

Leases (Lease Payments) (Detail

Leases (Lease Payments) (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Leases [Abstract]
Remainder of fiscal 2024	$ 1,688
Fiscal 2025	7,035
Fiscal 2026	6,980
Fiscal 2027	4,545
Fiscal 2028	3,649
Fiscal 2029	3,456
Thereafter	20,276
Total operating lease payments	47,629
Less: Amount representing interest	(9,039)
Operating Lease, Liability	38,590
Remainder of fiscal 2024	89
Fiscal 2025	356
Fiscal 2026	356
Fiscal 2027	356
Fiscal 2028	356
Fiscal 2029	356
Thereafter	10,230
Total finance lease payments	12,099
Less: Amount representing interest	(5,913)
Finance lease liabilities	6,186	$ 6,243
Remainder of fiscal 2024	1,777
Fiscal 2025	7,391
Fiscal 2026	7,336
Fiscal 2027	4,901
Fiscal 2028	4,005
Fiscal 2029	3,812
Thereafter	30,506
Total lease payments	59,728
Less: Amount representing interest	(14,952)
Total Lease Liabilty	$ 44,776

Goodwill and Other Intangible_3

Goodwill and Other Intangibles, net (Summary of Goodwill and Other Intangibles) (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Goodwill and other intangibles
Intangible Assets Including Goodwill Gross	$ 154,938	$ 150,641
Accumulated Amortization	(5,581)	(6,304)
Intangible Assets, Net (Including Goodwill)	149,357	144,337
Indefinite lived:
Goodwill	120,744	114,547
Indefinite lived intangible assets including goodwill.	138,824	132,627
Finite lived:
Accumulated Amortization	(5,581)	(6,304)
Net Carrying Amount	10,533
Customer relationships
Goodwill and other intangibles
Accumulated Amortization	(4,965)	(5,818)
Finite lived:
Gross Carrying Amount	15,000	16,900
Accumulated Amortization	(4,965)	(5,818)
Net Carrying Amount	10,035	11,082
Other Intangible Assets
Goodwill and other intangibles
Accumulated Amortization	(616)	(486)
Finite lived:
Gross Carrying Amount	1,114	1,114
Accumulated Amortization	(616)	(486)
Net Carrying Amount	498	628
Trademarks and trade names
Indefinite lived:
Indefinite lived intangible assets	16,980	16,980
State insurance licenses
Indefinite lived:
Indefinite lived intangible assets	$ 1,100	$ 1,100

Goodwill and Other Intangible_4

Goodwill and Other Intangibles, net (Amortization) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022	Apr. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense on intangible assets	$ 400	$ 500	$ 1,200	$ 1,500
Remainder of fiscal year 2024	392		392
Fiscal 2025	1,530		1,530
Fiscal 2026	1,488		1,488
Fiscal 2027	1,415		1,415
Fiscal 2028	1,299		1,299
Fiscal 2029	1,265		1,265
Thereafter	3,144		3,144
Net Carrying Amount	10,533		10,533
Customer Relationships [Member]
Goodwill and Intangible Assets Disclosure [Abstract]
Net Carrying Amount	$ 10,035		$ 10,035		$ 11,082
Schedule of Acquired Finite and Indefinite Lived Intangible Asset by Major Class [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	7 years 1 month 6 days		7 years 1 month 6 days
Other Intangible Assets
Goodwill and Intangible Assets Disclosure [Abstract]
Net Carrying Amount	$ 498		$ 498		$ 628
Schedule of Acquired Finite and Indefinite Lived Intangible Asset by Major Class [Line Items]
Finite-Lived Intangible Assets, Remaining Amortization Period	2 years 9 months 18 days		2 years 9 months 18 days

Goodwill and Other Intangible_5

Goodwill and Other Intangibles, net (Changes to Goodwill) (Details) $ in Thousands	9 Months Ended
	Dec. 30, 2023 USD ($)
Business Acquisition [Line Items]
Beginning balance	$ 114,547
Ending balance	120,744
Kentucky Dream Homes
Business Acquisition [Line Items]
Goodwill acquired during the period	4,591
Solitaire
Business Acquisition [Line Items]
Solitaire Goodwill adjustments	1,137
Other immaterial acquisition
Business Acquisition [Line Items]
Goodwill acquired during the period	$ 469

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Accrued Expenses and Other Current Liabilities
Salaries, wages and benefits	$ 41,023	$ 47,100
Customer deposits	40,698	45,193
Estimated warranties	32,822	31,368
Unearned insurance premiums	30,192	27,901
Accrued volume rebates	25,086	22,858
Accrued self-insurance	13,671	11,467
Other	63,752	76,774
Total accrued expenses and other current liabilities	$ 247,244	$ 262,661

Warranties (Activity for Estima

Warranties (Activity for Estimated Warranty Liability) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022
Accrual for estimated warranties
Balance at beginning of period	$ 33,015	$ 30,841	$ 31,368	$ 26,250
Charged to costs and expenses	11,341	12,036	36,956	40,663
Payments and deductions	(11,534)	(11,931)	(35,502)	(35,967)
Balance at end of period	$ 32,822	$ 30,946	$ 32,822	$ 30,946

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Debt Obligations
Finance lease liabilities	$ 6,186	$ 6,243
Other secured financing	1,942	2,379
Mandatorily redeemable noncontrolling interest	2,796	2,268
Other Liabilities	10,924	10,890
Less current portion included in Accrued expenses and other current liabilities	(3,273)	(3,070)
Other noncurrent liabilities	$ 7,651	$ 7,820

Debt (Details)

Debt (Details) $ in Thousands	Dec. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
Secured credit facilities	$ 0
Revolving Credit Facility
Line of Credit Facility [Line Items]
Current borrowing capacity	50,000
Maximum Borrowing Capacity	$ 100,000

Reinsurance and Insurance Los_3

Reinsurance and Insurance Loss Reserves (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022
Reinsurance Effect on Premiums Written and Earned
Direct premiums Written	$ 11,135	$ 7,454	$ 31,581	$ 22,350
Assumed premiums - nonaffiliate Written	8,430	7,709	27,735	25,555
Ceded premiums - nonaffiliate Written	(6,406)	(4,413)	(18,971)	(13,056)
Net premiums Written	13,159	10,750	40,345	34,849
Direct premiums Earned	10,693	7,529	28,740	21,917
Assumed premiums - nonaffiliate Earned	8,459	8,358	25,880	24,526
Ceded premiums - nonaffiliate Earned	(6,406)	(4,413)	(18,971)	(13,056)
Premiums Earned, Net	$ 12,746	$ 11,474	$ 35,649	$ 33,387

Reinsurance and Insurance Los_4

Reinsurance and Insurance Loss Reserves (Details Textual) $ in Thousands	9 Months Ended
	Dec. 30, 2023 USD ($)
Insurance [Abstract]
Insurance policies maximum coverage per claim	$ 400
Insurance policies coverage per claim ceded to reinsurers	200
Insurance policy risk of loss maintained per claim	200
Catastrophic losses recoverable in excess of amount	3,000
Aggregate catastrophic losses recoverable in excess of amount	$ 100,000

Reinsurance and Insurance Los_5

Reinsurance and Insurance Loss Reserves (Loss Reserve Rollforward) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022
Insurance [Abstract]
Balance at beginning of period	$ 9,154	$ 7,790	$ 10,939	$ 8,149
Net incurred losses during the period	9,489	8,464	29,152	25,050
Net claim payments during the period	(9,189)	(7,163)	(30,637)	(24,108)
Balance at end of period	$ 9,454	$ 9,091	$ 9,454	$ 9,091

Commitments and Contingencies_3

Commitments and Contingencies (Details Textual) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 30, 2023 USD ($) Claim	Dec. 31, 2022 USD ($)	Dec. 30, 2023 USD ($) Claim	Dec. 31, 2022 USD ($) Claim	Apr. 01, 2023 USD ($)
Loss Contingencies
Reserves Related to Consumer Loans Sold	$ 0.6		$ 0.6		$ 0.7
Product repurchase
Loss Contingencies
Loss contingencies	$ 2.7		$ 2.7		5.2
Loss contingency claims \| Claim	1		3
Product repurchase \| Maximum
Loss Contingencies
Loss contingencies	$ 116		$ 116		178
Loan Repurchase
Loss Contingencies
Loss contingency claims \| Claim			0	0
CountryPlace
Loss Contingencies
IRLCs recorded at fair value	24.1		$ 24.1		64.9
Forward Commitments Recorded at Fair Value	$ 0.8		$ 0.8		$ 1.6
Recognized (loss) on the forward sales and whole loan commitments		$ (0.2)		$ (0.3)

Commitments and Contingencies_4

Commitments and Contingencies (Loan Contracts with Off-Balance Sheet Commitments) (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Loan Contracts with Off-Balance Sheet Commitments
Construction loan contract amount	$ 1,361	$ 2,214
Construction Advances	(464)	(706)
Remaining construction contingent commitment	$ 897	$ 1,508

Stockholders' Equity and Rede_3

Stockholders' Equity and Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Dec. 30, 2023	Sep. 30, 2023	Jul. 01, 2023	Dec. 31, 2022	Oct. 01, 2022	Jul. 02, 2022	Dec. 30, 2023	Dec. 31, 2022
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, common stock, shares issued			8,665,324				8,665,324
Ending balance, common stock, shares issued	8,345,812						8,345,812
Beginning balance	$ 1,019,255	$ 1,022,826	$ 976,286	$ 928,932	$ 851,562	$ 830,455	$ 976,286	$ 830,455
Net income attributable to Cavco common stockholders	35,987	41,539	46,357	59,524	74,116	59,602	123,883	193,242
Other comprehensive loss, net	241	54	(42)	74	(303)	(112)
Issuance of common stock under stock incentive plans, net	1,934	479	(1,213)	(90)	1,457	(848)
Stock-based compensation	1,709	1,551	1,438	1,330	2,100	1,425
Common stock repurchases	(50,426)	(47,194)		(34,270)		(38,960)
Ending balance	1,008,700	1,019,255	1,022,826	955,500	928,932	851,562	1,008,700	955,500
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance	0	1,120	1,219	926	677	825	1,219	825
Net Income Attributable to Noncontrolling Interest	0	34	54	65	82	92
Other comprehensive income	0	0	0	0	0	0
Distributions		(180)	(120)	(120)	(240)	(240)
Valuation adjustment		$ (974)	(33)	61	407
Noncontrolling interest, explanation of decrease		Conversion to mandatorily redeemable noncontrolling interest
Ending balance	$ 0	$ 0	$ 1,120	$ 932	$ 926	$ 677	$ 0	$ 932
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, common stock, shares issued	9,356,421	9,347,220	9,337,125	9,314,152	9,298,235	9,292,278	9,337,125	9,292,278
Issuance of common stock under stock incentive plans, shares	24,726	9,201	10,095	5,548	15,917	5,957
Ending balance, common stock, shares issued	9,381,147	9,356,421	9,347,220	9,319,700	9,314,152	9,298,235	9,381,147	9,319,700
Beginning balance	$ 94	$ 93	$ 93	$ 93	$ 93	$ 93	$ 93	$ 93
Net income attributable to Cavco common stockholders	0	0	0	0	0	0
Other comprehensive loss, net	0	0	0	0	0	0
Issuance of common stock under stock incentive plans, net	0	1	0	0	0	0
Stock-based compensation	0	0	0	0	0	0
Ending balance	94	94	93	93	93	93	94	93
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(211,646)	(164,452)	(164,452)	100,000	(100,000)	(61,040)	(164,452)	(61,040)
Net income attributable to Cavco common stockholders	0	0	0	0	0	0
Other comprehensive loss, net	0	0	0	0	0	0
Issuance of common stock under stock incentive plans, net	0	0	0	0	0	0
Stock-based compensation	0	0	0	0	0	0
Common stock repurchases	(50,426)	(47,194)		(34,270)		(38,960)
Ending balance	(262,072)	(211,646)	(164,452)	134,270	100,000	(100,000)	(262,072)	134,270
Additional paid-in capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	274,204	272,175	271,950	267,183	263,626	263,049	271,950	263,049
Net income attributable to Cavco common stockholders	0	0	0	0	0	0
Other comprehensive loss, net	0	0	0	0	0	0
Issuance of common stock under stock incentive plans, net	1,934	478	(1,213)	(90)	1,457	(848)
Stock-based compensation	1,709	1,551	1,438	1,330	2,100	1,425
Ending balance	277,847	274,204	272,175	268,423	267,183	263,626	277,847	268,423
Retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	957,206	915,667	869,310	762,474	688,358	628,756	869,310	628,756
Net income attributable to Cavco common stockholders	35,987	41,539	46,357	59,524	74,116	59,602
Other comprehensive loss, net	0	0	0	0	0	0
Issuance of common stock under stock incentive plans, net	0	0	0	0	0	0
Stock-based compensation	0	0	0	0	0	0
Ending balance	993,193	957,206	915,667	821,998	762,474	688,358	993,193	821,998
Accumulated other comprehensive loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(603)	(657)	(615)	(818)	(515)	(403)	(615)	(403)
Net income attributable to Cavco common stockholders	0	0	0	0	0	0
Other comprehensive loss, net	241	54	(42)	74	(303)	(112)
Issuance of common stock under stock incentive plans, net	0	0	0	0	0	0
Stock-based compensation	0	0	0	0	0	0
Ending balance	(362)	(603)	(657)	(744)	(818)	(515)	$ (362)	$ (744)
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock under stock incentive plans, net	0	0	0	0	0	0
Stock-based compensation	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Dec. 30, 2023	Sep. 30, 2023	Jul. 01, 2023	Dec. 31, 2022	Oct. 01, 2022	Jul. 02, 2022	Dec. 30, 2023	Dec. 31, 2022
Earnings Per Share Computation
Net income attributable to Cavco common stockholders	$ 35,987	$ 41,539	$ 46,357	$ 59,524	$ 74,116	$ 59,602	$ 123,883	$ 193,242
Weighted average shares outstanding:
Basic	8,358,389			8,870,565			8,561,209	8,897,405
Effect of dilutive securities	74,082			65,510			79,079	71,699
Diluted	8,432,471			8,936,075			8,640,288	8,969,104
Net income per share attributable to Cavco common stockholders:
Basic (usd per share)	$ 4.31			$ 6.71			$ 14.47	$ 21.72
Diluted Net income per share attributable to Cavco common stockholders:
Diluted (usd per share)	$ 4.27			$ 6.66			$ 14.34	$ 21.55
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive stock equivalents excluded from computation	0			930			316	776

Summary of the Fair Value and C

Summary of the Fair Value and Carrying Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 30, 2023	Apr. 01, 2023
Book Value
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Non-marketable equity investments	$ 4,923	$ 5,073
Consumer loans receivable	36,134	44,148
Commercial loans receivable	92,572	101,977
Other secured financing	(1,942)	(2,379)
Book Value \| Available-for-sale debt securities
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Investments	19,207	18,555
Book Value \| Marketable equity securities
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Investments	8,788	9,989
Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Non-marketable equity investments	4,923	5,073
Consumer loans receivable	41,661	50,686
Commercial loans receivable	78,191	97,106
Other secured financing	(1,894)	(2,332)
Estimated Fair Value \| Available-for-sale debt securities
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Investments	19,207	18,555
Estimated Fair Value \| Marketable equity securities
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Investments	$ 8,788	$ 9,989

Fair Value Measurements (Assump

Fair Value Measurements (Assumptions for Mortgage Servicing Rights) (Details) $ in Thousands	Dec. 30, 2023 USD ($) Loans	Apr. 01, 2023 USD ($) Loans
Fair Value Disclosures [Abstract]
Number of loans serviced with MSRs \| Loans	3,894	4,070
Weighted average servicing fee	0.3479%	0.3471%
Capitalized servicing multiple	187.10%	98.99%
Capitalized servicing rate	0.651%	0.3436%
Serviced portfolio with MSRs	$ 491,887	$ 520,458
Mortgage servicing rights	$ 3,202	$ 1,788

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2023	Dec. 31, 2022	Dec. 30, 2023	Dec. 31, 2022	Apr. 01, 2023
Related Party Transactions [Abstract]
Revenues from related parties	$ 11,600	$ 18,700	$ 42,600	$ 56,000
Accounts receivable from related parties	6,500		6,500		$ 5,700
Commercial loans receivable	$ 4,900		$ 4,900		$ 4,700

Acquisitions (Schedule of Acqui

Acquisitions (Schedule of Acquisitions) (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Apr. 01, 2023 USD ($)	Dec. 30, 2023 USD ($) store	Nov. 15, 2023 USD ($)	Jan. 03, 2023 USD ($) store
Business Acquisition [Line Items]
Number of Stores \| store		73
Goodwill	$ 114,547	$ 120,744
Solitaire
Business Acquisition [Line Items]
Number of Stores \| store				22
Payment to acquire business	$ 110,800
Cash				$ 5,040
Investments				334
Accounts receivable				2,749
Inventories				57,902
Property, plant and equipment				36,006
Other current assets				1,578
Intangible assets				3,400
Total identifiable assets acquired				107,009
Accounts payable and accrued liabilities				11,335
Net identifiable assets acquired				95,674
Goodwill				15,107
Net assets acquired				110,781
Kentucky Dream Homes
Business Acquisition [Line Items]
Payment to acquire business		18,400
Goodwill			$ 4,600
KDH Acquisition total consideration		23,800
KDH Acquisition, non-cash commercial loan forgiveness		$ 5,400
Previously Reported \| Solitaire
Business Acquisition [Line Items]
Cash				5,119
Investments				334
Accounts receivable				3,536
Inventories				58,045
Property, plant and equipment				36,109
Other current assets				1,519
Intangible assets				3,400
Total identifiable assets acquired				108,062
Accounts payable and accrued liabilities				11,251
Net identifiable assets acquired				96,811
Goodwill				13,970
Net assets acquired				110,781
Adjustments \| Solitaire
Business Acquisition [Line Items]
Cash				(79)
Investments				0
Accounts receivable				(787)
Inventories				(143)
Property, plant and equipment				(103)
Other current assets				59
Intangible assets				0
Total identifiable assets acquired				(1,053)
Accounts payable and accrued liabilities				84
Net identifiable assets acquired				(1,137)
Goodwill				1,137
Net assets acquired				$ 0

Acquisition (Pro-forma) (Detail

Acquisition (Pro-forma) (Details) - Solitaire - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	9 Months Ended
	Dec. 31, 2022	Dec. 31, 2022
Business Acquisition [Line Items]
Net revenue	$ 536,776	$ 1,774,853
Net income attributable to Cavco common stockholders	$ 61,567	$ 199,371
Diluted net income per share	$ 6.89	$ 22.23

Business Segment Information (D

Business Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
Business Segment Information (Details) $ in Thousands	Dec. 30, 2023 USD ($) Segment	Dec. 31, 2022 USD ($) Segment	Dec. 30, 2023 USD ($) Segment	Dec. 31, 2022 USD ($) Segment	Apr. 01, 2023 USD ($)
Business Segment Information
Number of operating segments \| Segment	2	2	2	2
Net revenue	$ 446,769	$ 500,603	$ 1,374,674	$ 1,666,333
Income before income taxes	43,907	76,081	156,245	248,202
Total assets	1,326,596		1,326,596		$ 1,307,975
Factory-built housing
Business Segment Information
Net revenue	426,939	481,193	1,318,114	1,613,392
Income before income taxes	42,070	71,813	154,121	241,959
Total assets	1,125,581		1,125,581		1,107,555
Financial services
Business Segment Information
Net revenue	19,830	19,410	56,560	52,941
Income before income taxes	1,837	$ 4,268	2,124	$ 6,243
Total assets	$ 201,015		$ 201,015		$ 200,420