RBC Bearings (RBC) 10-Q 6 Feb 18 2018 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Dec. 30, 2017	Jan. 26, 2018
Document And Entity Information
Entity Registrant Name	RBC Bearings INC
Entity Central Index Key	1,324,948
Document Type	10-Q
Trading Symbol	ROLL
Document Period End Date	Dec. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		24,289,481
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,018

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Dec. 30, 2017	Apr. 01, 2017
Current assets:
Cash and cash equivalents	$ 43,822	$ 38,923
Accounts receivable, net of allowance for doubtful accounts of $1,476 at December 30, 2017 and $1,213 at April 1, 2017	109,923	109,700
Inventory	303,013	289,594
Prepaid expenses and other current assets	13,304	9,743
Total current assets	470,062	447,960
Property, plant and equipment, net	190,313	183,625
Goodwill	268,123	268,042
Intangible assets, net of accumulated amortization of $36,606 at December 30, 2017 and $30,191 at April 1, 2017	185,923	196,801
Other assets	14,729	12,419
Total assets	1,129,150	1,108,847
Current liabilities:
Accounts payable	43,643	34,392
Accrued expenses and other current liabilities	39,521	44,532
Current portion of long-term debt	17,976	14,214
Total current liabilities	101,140	93,138
Deferred income taxes	10,827	12,036
Long-term debt, less current portion	179,977	255,586
Other non-current liabilities	38,662	31,043
Total liabilities	330,606	391,803
Stockholders' equity:
Preferred stock, $.01 par value; authorized shares: 10,000,000 at December 30, 2017 and April 1, 2017; none issued and outstanding
Common stock, $.01 par value; authorized shares: 60,000,000 at December 30, 2017 and April 1, 2017; issued and outstanding shares: 25,000,672 at December 30, 2017 and 24,757,803 at April 1, 2017	250	248
Additional paid-in capital	331,819	312,474
Accumulated other comprehensive loss	(4,345)	(9,823)
Retained earnings	510,301	448,693
Treasury stock, at cost, 713,201 shares at December 30, 2017 and 667,931 shares at April 1, 2017	(39,481)	(34,548)
Total stockholders' equity	798,544	717,044
Total liabilities and stockholders' equity	$ 1,129,150	$ 1,108,847

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 30, 2017	Apr. 01, 2017
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 1,476	$ 1,213
Intangible assets, accumulated amortization	$ 36,606	$ 30,191
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized	10,000,000	10,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized	60,000,000	60,000,000
Common stock, issued	25,000,672	24,757,803
Common stock, outstanding	25,000,672	24,757,803
Treasury stock, shares	713,201	667,931

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Dec. 30, 2017	Dec. 31, 2016
Income Statement [Abstract]
Net sales	$ 166,858	$ 146,656	$ 495,072	$ 455,178
Cost of sales	102,193	94,271	306,687	288,811
Gross margin	64,665	52,385	188,385	166,367
Operating expenses:
Selling, general and administrative	28,162	25,712	83,535	76,696
Other, net	3,380	6,144	14,649	10,367
Total operating expenses	31,542	31,856	98,184	87,063
Operating income	33,123	20,529	90,201	79,304
Interest expense, net	1,761	2,111	5,704	6,659
Other non-operating expense	26	(216)	462	51
Income before income taxes	31,336	18,634	84,035	72,594
Provision for income taxes	7,504	5,864	23,571	23,556
Net income	$ 23,832	$ 12,770	$ 60,464	$ 49,038
Net income per common share:
Basic (in dollars per share)	$ 0.99	$ 0.54	$ 2.53	$ 2.09
Diluted (in dollars per share)	$ 0.97	$ 0.54	$ 2.49	$ 2.07
Weighted average common shares:
Basic (in shares)	23,985,925	23,581,921	23,912,474	23,457,717
Diluted (in shares)	24,446,115	23,813,780	24,322,165	23,719,121

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Dec. 30, 2017	Dec. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income	$ 23,832	$ 12,770	$ 60,464	$ 49,038
Pension and postretirement liability adjustments, net of taxes	196	234	588	701
Foreign currency translation adjustments	470	(3,954)	4,890	(5,759)
Total comprehensive income	$ 24,498	$ 9,050	$ 65,942	$ 43,980

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income	$ 60,464	$ 49,038
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	14,155	13,557
Excess tax benefits from stock-based compensation		(4,870)
Deferred income taxes	(321)	3,717
Amortization of intangible assets	7,041	6,921
Amortization of deferred financing costs	1,068	1,068
Stock-based compensation	9,897	8,914
(Gain) loss on disposal of fixed assets	(1)	2,457
Gain on acquisition		(293)
Impairment charges	5,577	1,443
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	701	3,954
Inventory	(12,035)	(7,293)
Prepaid expenses and other current assets	(4,555)	(5,238)
Other non-current assets	(3,308)	(2,282)
Accounts payable	9,040	1,466
Accrued expenses and other current liabilities	(3,340)	2,123
Other non-current liabilities	8,113	(107)
Net cash provided by operating activities	92,496	74,575
Cash flows from investing activities:
Purchase of property, plant and equipment	(20,542)	(14,415)
Proceeds from sale of assets	33	107
Business acquisition		(651)
Net cash used in investing activities	(20,509)	(14,959)
Cash flows from financing activities:
Repayments of revolving credit facility	(62,750)	(61,500)
Repayments of term loans	(10,000)	(7,500)
Payments of notes payable	(359)	(353)
Exercise of stock options	9,450	11,567
Excess tax benefits from stock-based compensation		4,870
Repurchase of common stock	(4,933)	(4,750)
Net cash used in financing activities	(68,592)	(57,666)
Effect of exchange rate changes on cash	1,504	(1,686)
Cash and cash equivalents:
Increase during the period	4,899	264
Cash, at beginning of period	38,923	39,208
Cash, at end of period	$ 43,822	$ 39,472

Organization and Business

Organization and Business	9 Months Ended
	Dec. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	Basis of Presentation The consolidated financial statements included herein have been prepared by RBC Bearings Incorporated, a Delaware corporation (collectively with its subsidiaries, the “Company”), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. The interim financial statements included with this report have been prepared on a consistent basis with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended April 1, 2017. We condensed or omitted certain information and footnote disclosures normally included in our annual audited financial statements, which we prepared in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP). As used in this report, the terms “we”, “us”, “our”, “RBC” and the “Company”) mean RBC Bearings Incorporated and its subsidiaries, unless the context indicates another meaning. These statements reflect all adjustments, accruals and estimates consisting only of items of a normal recurring nature, which are, in the opinion of management, necessary for the fair presentation of the consolidated financial condition and consolidated results of operations for the interim periods presented. These financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Annual Report on Form 10-K. The results of operations for the three month period ended December 30, 2017 are not necessarily indicative of the operating results for the entire fiscal year ending March 31, 2018. The three month periods ended December 30, 2017 and December 31, 2016 each include 13 weeks. The amounts shown are in thousands, unless otherwise indicated. Critical Accounting Policies Revenue Recognition. We also recognize revenue on a Ship-In-Place basis for three customers who have required that we hold the product after final production is complete. In this case, a written agreement has been executed (at the customer’s request) whereby the customer accepts the risk of loss for product that is invoiced under the Ship-In-Place arrangement. For each transaction for which revenue is recognized under a Ship-In-Place arrangement, all final manufacturing inspections have been completed and customer acceptance has been obtained. In the three months ended December 30, 2017, 1.8% of the Company’s total net sales were recognized under Ship-In-Place transactions. Recent Accounting Pronouncements In May 2017, the Financial Accounting Standards Board ("FASB") issued No. 2017-09, “Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting”, in an effort to reduce diversity in practice as it relates to applying modification accounting for changes to the terms and conditions of share-based payment awards. This ASU is effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017, including interim periods within those annual periods. Early adoption is permitted. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issued No. 2017-07, “Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost”, in an effort to improve resentation of these costs within the income statement. Under current GAAP, all components of both net periodic pension cost and net periodic postretirement cost are included within selling, general and administrative costs on the income statement. This ASU would require entities to include only the service cost component within selling, general and administrative costs whereas all other components would be included within other non-operating expense. In addition, only the service cost component would be eligible for capitalization when applicable (for example, as a cost of internally manufactured inventory or a self-constructed asset). The amendments in this Update should be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit in assets. This ASU is effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017, including interim periods within those annual periods. The Company has not determined the effect that the adoption of the pronouncement may have on its financial position and/or results of operations. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment". The objective of this standard update is to simplify the subsequent measurement of goodwill, eliminating Step 2 from the goodwill impairment test. Under this ASU, an entity should perform its annual goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity would recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, assuming the loss recognized does not exceed the total amount of goodwill for the reporting unit. The standard update is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In October 2016, the FASB issued No. 2016-16, “Income Taxes (Topic 740)”, in an effort to improve the accounting for the income tax consequences of intra-equity transfers of assets other than inventory. Current GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. This ASU establishes the requirement that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This ASU is effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017 and interim periods within those annual periods. Earlier application is permitted as of the beginning of an interim or annual reporting period, with any adjustments reflected as of the beginning of the fiscal year of adoption. The Company has not determined the effect that the adoption of the pronouncement may have on its financial position and/or results of operations. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments”, which addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. This ASU is effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017 and interim periods within those annual periods. Earlier application is permitted as of the beginning of an interim or annual reporting period, with any adjustments reflected as of the beginning of the fiscal year of adoption. The Company has not determined the effect that the adoption of the pronouncement may have on its statements of cash flows. In March 2016, the FASB issued ASU No. 2016-09, "Improvements to Employee Share-Based Payment Accounting" which amends ASC Topic 718, Compensation - Stock Compensation. This ASU includes provisions intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements. The Company adopted this standard on April 2, 2017. As a result of the adoption, the Company began recording the tax effects associated with stock-based compensation through the income statement on a prospective basis which resulted in a tax benefit of $3.9 million for the first nine months of fiscal 2018. Prior to adoption, these amounts would have been recorded as an increase to additional paid-in capital. This change may create volatility in the Company's effective tax rate. The adoption of this standard also resulted in a cumulative effect change to opening retained earnings of $1.1 million for previously unrecognized excess tax benefits. In addition, the Company will prospectively classify all tax-related cash flows resulting from share-based payments, including the excess tax benefits related to the settlement of stock-based awards, as cash flows from operating activities in the statement of cash flows. Prior to the adoption of this standard, these were shown as cash inflows from financing activities and cash outflows from operating activities. The adoption of the ASU also resulted in the Company removing the excess tax benefits from the assumed proceeds available to repurchase shares when calculating diluted earnings per share on a prospective basis. The revised calculation increased the diluted weighted average common shares outstanding by approximately 0.1 million shares in the period of adoption. The Company also made an accounting policy election to continue to estimate forfeitures as it did prior to adoption. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The core principal of ASU 2016-02 is that an entity should recognize on its balance sheet assets and liabilities arising from a lease. In accordance with that principle, ASU 2016-02 requires that a lessee recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying leased asset for the lease term. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee will depend on the lease classification as a finance or operating lease. This new accounting guidance is effective for public companies for fiscal years beginning after December 15, 2018 under a modified retrospective approach and early adoption is permitted. The Company is currently evaluating the impact this adoption will have on its consolidated financial statements. In July 2015, the FASB issued ASU No. 2015-11, “Inventory (Topic 330): Simplifying the Measurement of Inventory.” This update requires the company to measure inventory using the lower of cost and net realizable value. Net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This ASU applies to companies measuring inventory using methods other than the last-in, first-out (LIFO) and retail inventory methods, including but not limited to the first-in, first-out (FIFO) or average costing methods. The Company adopted this ASU on a prospective basis on April 2, 2017 and it did not have a material impact on the Company’s consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606)". The objective of this standard update is to remove inconsistent practices with regards to revenue recognition between U.S. GAAP and IFRS. The standard intends to improve comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets. The provisions of ASU No. 2014-09 will be effective for interim and annual periods beginning after December 15, 2017, with early adoption permitted for annual periods beginning after December 15, 2016. The guidance permits use of either a retrospective or cumulative effect transition method. Based upon the FASB's decision to approve a one-year delay in implementation, the new standard is now effective for the Company in fiscal 2019, with early adoption permitted, but not earlier than fiscal 2018. The Company has concluded it will utilize the modified retrospective method upon adopting this standard. The Company has substantially completed their assessment of the impact of the new standard on its business which has identified potential differences that would result from applying the requirements of the new standard to its revenue contracts. Upon adoption, the Company expects certain revenue streams currently accounted for using a point-in-time model will utilize an over-time model due to the continuous transfer of control to customers. The Company is in the process of drafting updated accounting policies and disclosures under the new guidance. The Company has not finalized the impact of reported revenues and earnings of adopting the new standard but expects to do so by the end of the fourth quarter of fiscal 2018.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Dec. 30, 2017
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	1. Accumulated Other Comprehensive Income (Loss) The components of comprehensive income (loss) that relate to the Company are net income, foreign currency translation adjustments and pension plan and postretirement benefits. The following summarizes the activity within each component of accumulated other comprehensive income (loss): Currency Translation Pension and Postretirement Liability Total Balance at April 1, 2017 $ (3,942 ) $ (5,881 ) $ (9,823 ) Other comprehensive income before reclassifications 4,890 — 4,890 Amounts reclassified from accumulated other comprehensive income — 588 588 Net current period other comprehensive income 4,890 588 5,478 Balance at December 30, 2017 $ 948 $ (5,293 ) $ (4,345 )

Net Income Per Common Share

Net Income Per Common Share	9 Months Ended
	Dec. 30, 2017
Net income per common share:
Net Income Per Common Share	2. Net Income Per Common Share Basic net income per common share is computed by dividing net income available to common stockholders by the weighted-average number of common shares outstanding. Diluted net income per common share is computed by dividing net income by the sum of the weighted-average number of common shares and dilutive common share equivalents then outstanding using the treasury stock method. Common share equivalents consist of the incremental common shares issuable upon the exercise of stock options. The table below reflects the calculation of weighted-average shares outstanding for each period presented as well as the computation of basic and diluted net income per common share: Three Months Ended Nine Months Ended December 30, 2017 December 31, 2016 December 30, 2017 December 31, 2016 Net income $ 23,832 $ 12,770 $ 60,464 $ 49,038 Denominator for basic net income per common share—weighted-average shares outstanding 23,985,925 23,581,921 23,912,474 23,457,717 Effect of dilution due to employee stock awards 460,190 231,859 409,691 261,404 Denominator for diluted net income per common share—weighted-average shares outstanding 24,446,115 23,813,780 24,322,165 23,719,121 Basic net income per common share $ 0.99 $ 0.54 $ 2.53 $ 2.09 Diluted net income per common share $ 0.97 $ 0.54 $ 2.49 $ 2.07 At December 30, 2017, no employee stock options have been excluded from the calculation of diluted earnings per share. At December 31, 2016, 449,500 employee stock options have been excluded from the calculation of diluted earnings per share. The inclusion of these employee stock options would be anti-dilutive.

Cash and Cash Equivalents

Cash and Cash Equivalents	9 Months Ended
	Dec. 30, 2017
Cash and cash equivalents:
Cash and Cash Equivalents	3. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Short-term investments, if any, are comprised of equity securities and are measured at fair value by using quoted prices in active markets and are classified as Level 1 of the valuation hierarchy.

Inventory

Inventory	9 Months Ended
	Dec. 30, 2017
Inventory Disclosure [Abstract]
Inventory	4. Inventory Inventories are stated at the lower of cost or net realizable value, using the first-in, first-out method, and are summarized below: December 30, 2017 April 1, 2017 Raw materials $ 38,324 $ 35,364 Work in process 79,921 79,048 Finished goods 184,768 175,182 $ 303,013 $ 289,594

Goodwill and Intangible Assets

Goodwill and Intangible Assets	9 Months Ended
	Dec. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	5. Goodwill and Intangible Assets Goodwill Roller Plain Ball Engineered Products Total April 1, 2017 $ 16,007 $ 79,597 $ 5,623 $ 166,815 $ 268,042 Translation adjustments — — — 81 81 December 30, 2017 $ 16,007 $ 79,597 $ 5,623 $ 166,896 $ 268,123 Intangible Assets December 30, 2017 April 1, 2017 Weighted Average Useful Lives Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Product approvals 24 $ 50,878 $ 7,823 $ 53,869 $ 6,465 Customer relationships and lists 24 106,583 15,426 107,864 12,308 Trade names 10 18,734 6,300 19,923 5,137 Distributor agreements 5 722 722 722 722 Patents and trademarks 16 9,610 4,661 8,803 4,130 Domain names 10 437 419 437 386 Other 6 1,365 1,255 1,174 1,043 188,329 36,606 192,792 30,191 Non-amortizable repair station certifications n/a 34,200 — 34,200 — Total $ 222,529 $ 36,606 $ 226,992 $ 30,191 Amortization expense for definite-lived intangible assets for the nine month periods ended December 30, 2017 and December 31, 2016 was $7,041 and $6,921, respectively. Estimated amortization expense for the remaining three months of fiscal 2018, the five succeeding fiscal years and thereafter is as follows: 2018 $ 2,435 2019 8,855 2020 8,747 2021 8,696 2022 8,579 2023 8,496 2024 and thereafter 105,915

Debt

Debt	9 Months Ended
	Dec. 30, 2017
Debt Disclosure [Abstract]
Debt	6. Debt The balances payable under all borrowing facilities are as follows: December 30, 2017 April 1, 2017 Revolver and term loan facilities $ 194,250 $ 267,000 Debt issuance costs (3,324 ) (4,392 ) Other 7,027 7,192 Total debt 197,953 269,800 Less: current portion 17,976 14,214 Long-term debt $ 179,977 $ 255,586 The current portion of long-term debt as of both December 30, 2017 and April 1, 2017 includes the current portion of the Schaublin mortgage and the current portion of the Term Loan Facilities. Credit Facility In connection with the Sargent Aerospace & Defense (“Sargent”) acquisition on April 24, 2015, the Company entered into a new credit agreement (the “Credit Agreement”) and related Guarantee, Pledge Agreement and Security Agreement with Wells Fargo Bank, National Association, as Administrative Agent, Collateral Agent, Swingline Lender and Letter of Credit Issuer and the other lenders party thereto and terminated the JP Morgan Credit Agreement. The Credit Agreement provides RBCA, as Borrower, with (a) a $200,000 Term Loan and (b) a $350,000 Revolver and together with the Term Loan (the “Facilities”). The Facilities expire on April 24, 2020. Amounts outstanding under the Facilities generally bear interest at (a) a base rate determined by reference to the higher of (1) Wells Fargo’s prime lending rate, (2) the federal funds effective rate plus 1/2 of 1% and (3) the one-month LIBOR rate plus 1% or (b) LIBOR rate plus a specified margin, depending on the type of borrowing being made. The applicable margin is based on the Company’s consolidated ratio of total net debt to consolidated EBITDA from time to time. Currently, the Company’s margin is 0.00% for base rate loans and 1.00% for LIBOR rate loans. As of December 30, 2017, there was $21,750 outstanding under the Revolver and $172,500 outstanding under the Term Loan, offset by $3,324 in debt issuance costs (original amount was $7,122). The Credit Agreement requires the Company to comply with various covenants, including among other things, financial covenants to maintain the following: (1) a ratio of consolidated net debt to adjusted EBITDA, not to exceed 3.50 to 1; and (2) a consolidated interest coverage ratio not to be less than 2.75 to 1. The Credit Agreement allows the Company to, among other things, make distributions to shareholders, repurchase its stock, incur other debt or liens, or acquire or dispose of assets provided that the Company complies with certain requirements and limitations of the agreement. As of December 30, 2017, the Company was in compliance with all such covenants. The Company’s obligations under the Credit Agreement are secured as well as providing for a pledge of substantially all of the Company’s and RBCA’s assets. The Company and certain of its subsidiaries have also entered into a Guarantee to guarantee RBCA’s obligations under the Credit Agreement. Approximately $3,990 of the Revolver is being utilized to provide letters of credit to secure RBCA’s obligations relating to certain insurance programs. As of December 30, 2017, RBCA has the ability to borrow up to an additional $324,260 under the Revolver. Other Notes Payable On October 1, 2012, Schaublin purchased the land and building, which it occupied and had been leasing, for 14,067 CHF (approximately $14,910). Schaublin obtained a 20 year fixed rate mortgage of 9,300 CHF (approximately $9,857) at an interest rate of 2.9%. The balance of the purchase price of 4,767 CHF (approximately $5,053) was paid from cash on hand. The balance on this mortgage as of December 30, 2017 was 6,859 CHF, or $7,027.

Income Taxes

Income Taxes	9 Months Ended
	Dec. 30, 2017
Income Tax Disclosure [Abstract]
Income Taxes	7. Income Taxes The Company files income tax returns in the U.S. federal jurisdiction, and various states and foreign jurisdictions. With few exceptions, the Company is no longer subject to state or foreign income tax examinations by tax authorities for years ending before April 2, 2005. The Company is no longer subject to U.S. federal tax examination by the Internal Revenue Service for years ending before March 29, 2014. A U.S. federal tax examination by the Internal Revenue Service for the year ended March 30, 2013 was effectively settled in fiscal 2016. The effective income tax rates for the three month periods ended December 30, 2017 and December 31, 2016 were 23.9% and 31.5%, respectively. During the third quarter, Congress passed and the President signed the Tax Cuts and Jobs Act (“TCJA”) of 2017 into law. The new law includes a number of changes in existing tax law impacting businesses including a permanent reduction in the corporate income tax rate from 35.0% to 21.0%. As a result, the blended statutory rate applied for the current fiscal year is 31.5%. As of December 30, 2017, we have not completed our accounting for the tax effects associated with the TCJA. The impacts recorded, as detailed below, represent our estimate of the impact during the current fiscal year. In addition to discrete items, the effective income tax rates for these periods are different from the U.S. statutory rates due to a special U.S. manufacturing deduction, the U.S. credit for increasing research activities, and foreign income taxed at lower rates which decrease the rate, and state income taxes which increase the rate. The effective income tax rate for the three month period ended December 30, 2017 of 23.9% was impacted by one-time adjustments associated with the enactment of the TCJA. Included in these adjustments was an estimated charge of $9,491 associated with the repatriation transition tax and an estimated benefit of $8,708 associated with the revaluation of our deferred tax liabilities. The TCJA also impacted the third quarter provision with a benefit from the lower blended statutory tax rate of 31.5%. The third quarter provision was also impacted by approximately $1,238 of benefit associated with the adoption of ASU 2016-09 Compensation - Stock Compensation (Topic 718) Improvements to Employee Share-Based Payment Accounting

Reportable Segments

Reportable Segments	9 Months Ended
	Dec. 30, 2017
Segment Reporting [Abstract]
Reportable Segments	8. Reportable Segments The Company operates through operating segments for which separate financial information is available, and for which operating results are evaluated regularly by the Company’s chief operating decision maker in determining resource allocation and assessing performance. Those operating segments with similar economic characteristics and that meet all other required criteria, including nature of the products and production processes, distribution patterns and classes of customers, are aggregated as reportable segments. The Company has four reportable business segments; Plain Bearings, Roller Bearings, Ball Bearings and Engineered Products, which are described below. Plain Bearings. Roller Bearings. Ball Bearings. Engineered Products. Segment performance is evaluated based on segment net sales and gross margin. Items not allocated to segment operating income include corporate administrative expenses and certain other amounts. Three Months Ended Nine Months Ended December 30, 2017 December 31, 2016 December 30, 2017 December 31, 2016 Net External Sales Plain $ 69,764 $ 65,822 $ 214,809 $ 205,107 Roller 32,485 26,157 96,215 80,786 Ball 16,496 13,700 48,756 41,979 Engineered Products 48,113 40,977 135,292 127,306 $ 166,858 $ 146,656 $ 495,072 $ 455,178 Gross Margin Plain $ 26,615 $ 26,814 $ 82,719 $ 79,971 Roller 14,425 6,397 40,077 30,182 Ball 7,021 5,336 19,936 15,823 Engineered Products 16,604 13,838 45,653 40,391 $ 64,665 $ 52,385 $ 188,385 $ 166,367 Selling, General & Administrative Expenses Plain $ 6,371 $ 6,192 $ 19,143 $ 18,007 Roller 1,553 1,517 4,765 4,484 Ball 1,707 1,384 5,002 4,163 Engineered Products 5,338 4,534 15,737 13,840 Corporate 13,193 12,085 38,888 36,202 $ 28,162 $ 25,712 $ 83,535 $ 76,696 Operating Income Plain $ 19,134 $ 18,065 $ 60,957 $ 57,695 Roller 12,872 2,761 35,291 23,955 Ball 5,237 3,814 14,752 11,252 Engineered Products 8,817 7,831 17,839 22,564 Corporate (12,937 ) (11,942 ) (38,638 ) (36,162 ) $ 33,123 $ 20,529 $ 90,201 $ 79,304 Geographic External Sales Domestic $ 145,565 $ 129,212 $ 433,588 $ 399,629 Foreign 21,293 17,444 61,484 55,549 $ 166,858 $ 146,656 $ 495,072 $ 455,178 Intersegment Sales Plain $ 1,240 $ 1,146 $ 3,793 $ 3,248 Roller 3,438 3,264 9,731 11,512 Ball 606 370 1,758 1,211 Engineered Products 7,785 6,767 23,806 21,183 $ 13,069 $ 11,547 $ 39,088 $ 37,154 All intersegment sales are eliminated in consolidation.

Integration and Restructuring o

Integration and Restructuring of Operations	9 Months Ended
	Dec. 30, 2017
Restructuring and Related Activities [Abstract]
Integration and Restructuring of Operations	9. Integration and Restructuring of Operations In the second quarter of fiscal 2018, the Company reached a decision to restructure its manufacturing operation in Montreal, Canada. After completing its obligations, the Company expects to close its RBC Canada location and consolidate certain residual assets into other locations by the end of this fiscal year. As a result, the Company recorded an after-tax charge of $5,577 associated with the restructuring in the second quarter of fiscal 2018 attributable to the Engineered Products segment. The $5,577 charge includes a $1,337 impairment of fixed assets and a $5,157 impairment of intangible assets offset by a $917 tax benefit. The impairment charges were recognized within the “Other, net” line item within the consolidated statement of operations. The Company determined that the market approach was the most appropriate method to estimate the fair value of the fixed assets using comparable sales data and actual quotes from potential buyers in the market place. The fixed assets are comprised of land, a building, machinery and equipment. The Company assessed the fair value of the intangible assets in accordance with ASC 360-10, which are comprised of customer relationships, product approvals, tradenames and trademarks. In the third quarter of fiscal 2018, the Company incurred restructuring charges of $1,091 comprised primarily of employee termination costs. These costs were recorded within the “Other, net” line item within the consolidated statement of operations and are all attributable to the Engineered Products segment. The cumulative restructuring charges as of the end of the third quarter of fiscal 2018, net of taxes, were $6,668. The total impact of this restructuring is expected to be between $7,000 and $7,500 in after-tax charges, all attributable to the Engineered Products segment, and is expected to conclude in the third quarter of fiscal 2019. In the third quarter of fiscal 2017, the Company reached a decision to integrate and restructure its industrial manufacturing operation in South Carolina. The Company exited a few smaller product offerings and consolidated two manufacturing facilities into one. These restructuring efforts will better align our manufacturing capacity and market focus. As a result, the Company recorded a charge of $7,060 associated with the restructuring in the third quarter of fiscal 2017 attributable to the Roller Bearings segment. The $7,060 charge includes $3,215 of inventory rationalization costs, $261 in impairment of intangibles, $2,402 loss on fixed assets disposals, and $1,182 exit obligation associated with a building operating lease. The inventory rationalization costs were recorded in Cost of Sales in the income statement. All other costs were recorded under operating expenses in the “Other, net” category of the income statement. The pre-tax charge of $7,060 was offset with a tax benefit of approximately $2,222. The Company determined that the market approach was the most appropriate method to estimate the fair value for the inventory, intangible assets, equipment and building operating lease using comparable sales data and actual quotes from potential buyers in the market place.

Organization and Business (Poli

Organization and Business (Policies)	9 Months Ended
	Dec. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements included herein have been prepared by RBC Bearings Incorporated, a Delaware corporation (collectively with its subsidiaries, the “Company”), without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. The interim financial statements included with this report have been prepared on a consistent basis with the Company’s audited financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ended April 1, 2017. We condensed or omitted ceratin information and footnote disclosues normally included in our annual audited financial statements, which we prepared in accordance with U.S. Generally Accepted Accounting Principles (U.S. GAAP). As used in this report, the terms “we”, “us”, “our”, “RBC” and the “Company”) mean RBC Bearings Incorporated and its subsidiaries, unless the context indicates another meaning. These statements reflect all adjustments, accruals and estimates consisting only of items of a normal recurring nature, which are, in the opinion of management, necessary for the fair presentation of the consolidated financial condition and consolidated results of operations for the interim periods presented. These financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Annual Report on Form 10-K. The results of operations for the three month period ended December 30, 2017 are not necessarily indicative of the operating results for the entire fiscal year ending March 31, 2018. The three month periods ended December 30, 2017 and December 31, 2016 each include 13 weeks. The amounts shown are in thousands, unless otherwise indicated.
Critical Accounting Policies	Critical Accounting Policies Revenue Recognition. We also recognize revenue on a Ship-In-Place basis for three customers who have required that we hold the product after final production is complete. In this case, a written agreement has been executed (at the customer’s request) whereby the customer accepts the risk of loss for product that is invoiced under the Ship-In-Place arrangement. For each transaction for which revenue is recognized under a Ship-In-Place arrangement, all final manufacturing inspections have been completed and customer acceptance has been obtained. In the three months ended December 30, 2017, 1.8% of the Company’s total net sales were recognized under Ship-In-Place transactions.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2017, the Financial Accounting Standards Board ("FASB") issued No. 2017-09, “Compensation – Stock Compensation (Topic 718): Scope of Modification Accounting”, in an effort to reduce diversity in practice as it relates to applying modification accounting for changes to the terms and conditions of share-based payment awards. This ASU is effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017, including interim periods within those annual periods. Early adoption is permitted. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In March 2017, the FASB issued No. 2017-07, “Compensation – Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost”, in an effort to improve resentation of these costs within the income statement. Under current GAAP, all components of both net periodic pension cost and net periodic postretirement cost are included within selling, general and administrative costs on the income statement. This ASU would require entities to include only the service cost component within selling, general and administrative costs whereas all other components would be included within other non-operating expense. In addition, only the service cost component would be eligible for capitalization when applicable (for example, as a cost of internally manufactured inventory or a self-constructed asset). The amendments in this Update should be applied retrospectively for the presentation of the service cost component and the other components of net periodic pension cost and net periodic postretirement benefit cost in the income statement and prospectively, on and after the effective date, for the capitalization of the service cost component of net periodic pension cost and net periodic postretirement benefit in assets. This ASU is effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017, including interim periods within those annual periods. The Company has not determined the effect that the adoption of the pronouncement may have on its financial position and/or results of operations. In January 2017, the FASB issued ASU No. 2017-04, "Intangibles—Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment". The objective of this standard update is to simplify the subsequent measurement of goodwill, eliminating Step 2 from the goodwill impairment test. Under this ASU, an entity should perform its annual goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An entity would recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value, assuming the loss recognized does not exceed the total amount of goodwill for the reporting unit. The standard update is effective for fiscal years beginning after December 15, 2019. Early adoption is permitted. The adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In October 2016, the FASB issued No. 2016-16, “Income Taxes (Topic 740)”, in an effort to improve the accounting for the income tax consequences of intra-equity transfers of assets other than inventory. Current GAAP prohibits the recognition of current and deferred income taxes for an intra-entity asset transfer until the asset has been sold to an outside party. This ASU establishes the requirement that an entity recognize the income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. This ASU is effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017 and interim periods within those annual periods. Earlier application is permitted as of the beginning of an interim or annual reporting period, with any adjustments reflected as of the beginning of the fiscal year of adoption. The Company has not determined the effect that the adoption of the pronouncement may have on its financial position and/or results of operations. In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments”, which addresses eight specific cash flow issues with the objective of reducing the existing diversity in practice. This ASU is effective for public companies for the financial statements issued for annual periods beginning after December 15, 2017 and interim periods within those annual periods. Earlier application is permitted as of the beginning of an interim or annual reporting period, with any adjustments reflected as of the beginning of the fiscal year of adoption. The Company has not determined the effect that the adoption of the pronouncement may have on its statements of cash flows. In March 2016, the FASB issued ASU No. 2016-09, "Improvements to Employee Share-Based Payment Accounting" which amends ASC Topic 718, Compensation - Stock Compensation. This ASU includes provisions intended to simplify various aspects related to how share-based payments are accounted for and presented in the financial statements. The Company adopted this standard on April 2, 2017. As a result of the adoption, the Company began recording the tax effects associated with stock-based compensation through the income statement on a prospective basis which resulted in a tax benefit of $3.9 million for the first nine months of fiscal 2018. Prior to adoption, these amounts would have been recorded as an increase to additional paid-in capital. This change may create volatility in the Company's effective tax rate. The adoption of this standard also resulted in a cumulative effect change to opening retained earnings of $1.1 million for previously unrecognized excess tax benefits. In addition, the Company will prospectively classify all tax-related cash flows resulting from share-based payments, including the excess tax benefits related to the settlement of stock-based awards, as cash flows from operating activities in the statement of cash flows. Prior to the adoption of this standard, these were shown as cash inflows from financing activities and cash outflows from operating activities. The adoption of the ASU also resulted in the Company removing the excess tax benefits from the assumed proceeds available to repurchase shares when calculating diluted earnings per share on a prospective basis. The revised calculation increased the diluted weighted average common shares outstanding by approximately 0.1 million shares in the period of adoption. The Company also made an accounting policy election to continue to estimate forfeitures as it did prior to adoption. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842).” The core principal of ASU 2016-02 is that an entity should recognize on its balance sheet assets and liabilities arising from a lease. In accordance with that principle, ASU 2016-02 requires that a lessee recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying leased asset for the lease term. The recognition, measurement, and presentation of expenses and cash flows arising from a lease by a lessee will depend on the lease classification as a finance or operating lease. This new accounting guidance is effective for public companies for fiscal years beginning after December 15, 2018 under a modified retrospective approach and early adoption is permitted. The Company is currently evaluating the impact this adoption will have on its consolidated financial statements. In July 2015, the FASB issued ASU No. 2015-11, “Inventory (Topic 330): Simplifying the Measurement of Inventory.” This update requires the company to measure inventory using the lower of cost and net realizable value. Net realizable value is defined as the estimated selling price in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. This ASU applies to companies measuring inventory using methods other than the last-in, first-out (LIFO) and retail inventory methods, including but not limited to the first-in, first-out (FIFO) or average costing methods. The Company adopted this ASU on a prospective basis on April 2, 2017 and it did not have a material impact on the Company’s consolidated financial statements. In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers (Topic 606)". The objective of this standard update is to remove inconsistent practices with regards to revenue recognition between U.S. GAAP and IFRS. The standard intends to improve comparability of revenue recognition practices across entities, industries, jurisdictions and capital markets. The provisions of ASU No. 2014-09 will be effective for interim and annual periods beginning after December 15, 2017, with early adoption permitted for annual periods beginning after December 15, 2016. The guidance permits use of either a retrospective or cumulative effect transition method. Based upon the FASB's decision to approve a one-year delay in implementation, the new standard is now effective for the Company in fiscal 2019, with early adoption permitted, but not earlier than fiscal 2018. The Company has concluded it will utilize the modified retrospective method upon adopting this standard. The Company has substantially completed their assessment of the impact of the new standard on its business which has identified potential differences that would result from applying the requirements of the new standard to its revenue contracts. Upon adoption, the Company expects certain revenue streams currently accounted for using a point-in-time model will utilize an over-time model due to the continuous transfer of control to customers. The Company’s maintenance, repair and overhaul (MRO) revenue stream will be most impacted by this change resulting from the new standard. The Company is in the process of drafting updated accounting policies and disclosures under the new guidance. The Company has not finalized the impact of reported revenues and earnings of adopting the new standard but expects to do so by the end of the fourth quarter of fiscal 2018.

Accumulated Other Comprehensi18

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Dec. 30, 2017
Equity [Abstract]
Schedule of component of accumulated other comprehensive income (loss)	The following summarizes the activity within each component of accumulated other comprehensive income (loss): Currency Translation Pension and Postretirement Liability Total Balance at April 1, 2017 $ (3,942 ) $ (5,881 ) $ (9,823 ) Other comprehensive income before reclassifications 4,890 — 4,890 Amounts reclassified from accumulated other comprehensive income — 588 588 Net current period other comprehensive income 4,890 588 5,478 Balance at December 30, 2017 $ 948 $ (5,293 ) $ (4,345

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	9 Months Ended
	Dec. 30, 2017
Net income per common share:
Schedule of calculation of weighted-average shares as well as the computation of basic and diluted net income per common share	The table below reflects the calculation of weighted-average shares outstanding for each period presented as well as the computation of basic and diluted net income per common share: Three Months Ended Nine Months Ended December 30, 2017 December 31, 2016 December 30, 2017 December 31, 2016 Net income $ 23,832 $ 12,770 $ 60,464 $ 49,038 Denominator for basic net income per common share—weighted-average shares outstanding 23,985,925 23,581,921 23,912,474 23,457,717 Effect of dilution due to employee stock awards 460,190 231,859 409,691 261,404 Denominator for diluted net income per common share—weighted-average shares outstanding 24,446,115 23,813,780 24,322,165 23,719,121 Basic net income per common share $ 0.99 $ 0.54 $ 2.53 $ 2.09 Diluted net income per common share $ 0.97 $ 0.54 $ 2.49 $ 2.07

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Dec. 30, 2017
Inventory Disclosure [Abstract]
Schedule of inventory	Inventories are stated at the lower of cost or net realizable value, using the first-in, first-out method, and are summarized below: December 30, 2017 April 1, 2017 Raw materials $ 38,324 $ 35,364 Work in process 79,921 79,048 Finished goods 184,768 175,182 $ 303,013 $ 289,594

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	9 Months Ended
	Dec. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill balances, by segment	Goodwill Roller Plain Ball Engineered Products Total April 1, 2017 $ 16,007 $ 79,597 $ 5,623 $ 166,815 $ 268,042 Translation adjustments — — — 81 81 December 30, 2017 $ 16,007 $ 79,597 $ 5,623 $ 166,896 $ 268,123
Schedule of intangible assets	Intangible Assets December 30, 2017 April 1, 2017 Weighted Average Useful Lives Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Product approvals 24 $ 50,878 $ 7,823 $ 53,869 $ 6,465 Customer relationships and lists 24 106,583 15,426 107,864 12,308 Trade names 10 18,734 6,300 19,923 5,137 Distributor agreements 5 722 722 722 722 Patents and trademarks 16 9,610 4,661 8,803 4,130 Domain names 10 437 419 437 386 Other 6 1,365 1,255 1,174 1,043 188,329 36,606 192,792 30,191 Non-amortizable repair station certifications n/a 34,200 — 34,200 — Total $ 222,529 $ 36,606 $ 226,992 $ 30,191
Schedule of estimated amortization expense	Estimated amortization expense for the remaining three months of fiscal 2018, the five succeeding fiscal years and thereafter is as follows: 2018 $ 2,435 2019 8,855 2020 8,747 2021 8,696 2022 8,579 2023 8,496 2024 and thereafter 105,915

Debt (Tables)

Debt (Tables)	9 Months Ended
	Dec. 30, 2017
Debt Disclosure [Abstract]
Schedule of balances payable under borrowing facilities	The balances payable under all borrowing facilities are as follows: December 30, 2017 April 1, 2017 Revolver and term loan facilities $ 194,250 $ 267,000 Debt issuance costs (3,324 ) (4,392 ) Other 7,027 7,192 Total debt 197,953 269,800 Less: current portion 17,976 14,214 Long-term debt $ 179,977 $ 255,586

Reportable Segments (Tables)

Reportable Segments (Tables)	9 Months Ended
	Dec. 30, 2017
Segment Reporting [Abstract]
Schedule of segment information	Segment performance is evaluated based on segment net sales and gross margin. Items not allocated to segment operating income include corporate administrative expenses and certain other amounts. Three Months Ended Nine Months Ended December 30, 2017 December 31, 2016 December 30, 2017 December 31, 2016 Net External Sales Plain $ 69,764 $ 65,822 $ 214,809 $ 205,107 Roller 32,485 26,157 96,215 80,786 Ball 16,496 13,700 48,756 41,979 Engineered Products 48,113 40,977 135,292 127,306 $ 166,858 $ 146,656 $ 495,072 $ 455,178 Gross Margin Plain $ 26,615 $ 26,814 $ 82,719 $ 79,971 Roller 14,425 6,397 40,077 30,182 Ball 7,021 5,336 19,936 15,823 Engineered Products 16,604 13,838 45,653 40,391 $ 64,665 $ 52,385 $ 188,385 $ 166,367 Selling, General & Administrative Expenses Plain $ 6,371 $ 6,192 $ 19,143 $ 18,007 Roller 1,553 1,517 4,765 4,484 Ball 1,707 1,384 5,002 4,163 Engineered Products 5,338 4,534 15,737 13,840 Corporate 13,193 12,085 38,888 36,202 $ 28,162 $ 25,712 $ 83,535 $ 76,696 Operating Income Plain $ 19,134 $ 18,065 $ 60,957 $ 57,695 Roller 12,872 2,761 35,291 23,955 Ball 5,237 3,814 14,752 11,252 Engineered Products 8,817 7,831 17,839 22,564 Corporate (12,937 ) (11,942 ) (38,638 ) (36,162 ) $ 33,123 $ 20,529 $ 90,201 $ 79,304 Geographic External Sales Domestic $ 145,565 $ 129,212 $ 433,588 $ 399,629 Foreign 21,293 17,444 61,484 55,549 $ 166,858 $ 146,656 $ 495,072 $ 455,178 Intersegment Sales Plain $ 1,240 $ 1,146 $ 3,793 $ 3,248 Roller 3,438 3,264 9,731 11,512 Ball 606 370 1,758 1,211 Engineered Products 7,785 6,767 23,806 21,183 $ 13,069 $ 11,547 $ 39,088 $ 37,154

Organization and Business (Deta

Organization and Business (Details Narrative) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2017USD ($)shares	Dec. 31, 2016shares	Dec. 30, 2017USD ($)Customershares	Dec. 31, 2016USD ($)shares
Tax benefit				$ 4,870
Unrecognized excess tax benefits	$ 1,100		$ 1,100
Number of diluted weighted average common shares outstanding | shares	24,446,115	23,813,780	24,322,165	23,719,121
Stock-Based Compensation [Member]
Tax benefit			$ 3,900
Number of diluted weighted average common shares outstanding | shares			100
Ship-In-Place Transactions [Member]
Number of customers | Customer			3
Percentage of total net sales	1.80%

Accumulated Other Comprehensi25

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Dec. 30, 2017	Dec. 31, 2016
Equity [Abstract]
Balance beginning, Currency Translation			$ (3,942)
Other comprehensive income before reclassifications, Currency Translation			4,890
Amounts reclassified from accumulated other comprehensive income, Currency Translation
Net current period other comprehensive income, Currency Translation	$ 470	$ (3,954)	4,890	$ (5,759)
Balance ending, Currency Translation	948		948
Balance beginning, Pension and Postretirement Liability			(5,881)
Other comprehensive income before reclassifications, Pension and Postretirement Liability
Amounts reclassified from accumulated other comprehensive income, Pension and Postretirement Liability			588
Net current period other comprehensive income, Pension and Postretirement Liability	196	$ 234	588	$ 701
Balance ending, Pension and Postretirement Liability	(5,293)		(5,293)
Balance beginning, Total			(9,823)
Other comprehensive income before reclassifications, Total			4,890
Amounts reclassified from accumulated other comprehensive income, Total			588
Net current period other comprehensive income, Total			5,478
Balance ending, Total	$ (4,345)		$ (4,345)

Net Income Per Common Share (De

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Dec. 30, 2017	Dec. 31, 2016
Net income per common share:
Net income	$ 23,832	$ 12,770	$ 60,464	$ 49,038
Denominator for basic net income per common share-weighted-average shares outstanding	23,985,925	23,581,921	23,912,474	23,457,717
Effect of dilution due to employee stock awards	460,190	231,859	409,691	261,404
Denominator for diluted net income per common share - weighted-average shares outstanding	24,446,115	23,813,780	24,322,165	23,719,121
Basic net income per common share (in dollars per share)	$ 0.99	$ 0.54	$ 2.53	$ 2.09
Diluted net income per common share (in dollars per share)	$ 0.97	$ 0.54	$ 2.49	$ 2.07

Net Income Per Common Share (27

Net Income Per Common Share (Details Narrative) - shares	9 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Net income per common share:
Antidilutive securities excluded from computation of earnings per share	0	449,500

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	Dec. 30, 2017	Apr. 01, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 38,324	$ 35,364
Work in process	79,921	79,048
Finished goods	184,768	175,182
Inventory, total	$ 303,013	$ 289,594

Goodwill and Intangible Asset29

Goodwill and Intangible Assets (Details) $ in Thousands	9 Months Ended
	Dec. 30, 2017USD ($)
Goodwill [Line Items]
Beginning balance	$ 268,042
Translation adjustments	81
Ending balance	268,123
Roller [Member]
Goodwill [Line Items]
Beginning balance	16,007
Translation adjustments
Ending balance	16,007
Plain [Member]
Goodwill [Line Items]
Beginning balance	79,597
Translation adjustments
Ending balance	79,597
Ball [Member]
Goodwill [Line Items]
Beginning balance	5,623
Translation adjustments
Ending balance	5,623
Engineered Products [Member]
Goodwill [Line Items]
Beginning balance	166,815
Translation adjustments	81
Ending balance	$ 166,896

Goodwill and Intangible Asset30

Goodwill and Intangible Assets (Details 1) - USD ($) $ in Thousands	9 Months Ended
	Dec. 30, 2017	Apr. 01, 2017
Gross Carrying Amount	$ 188,329	$ 192,792
Accumulated Amortization	36,606	30,191
Non-amortizable repair station certifications	34,200	34,200
Total	$ 222,529	226,992
Product Approvals [Member]
Weighted Average Useful Lives	24 years
Gross Carrying Amount	$ 50,878	53,869
Accumulated Amortization	$ 7,823	6,465
Customer Relationships and Lists [Member]
Weighted Average Useful Lives	24 years
Gross Carrying Amount	$ 106,583	107,864
Accumulated Amortization	$ 15,426	12,308
Trade Names [Member]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	$ 18,734	19,923
Accumulated Amortization	$ 6,300	5,137
Distributor Agreements [Member]
Weighted Average Useful Lives	5 years
Gross Carrying Amount	$ 722	722
Accumulated Amortization	$ 722	722
Patents And Trademarks [Member]
Weighted Average Useful Lives	16 years
Gross Carrying Amount	$ 9,610	8,803
Accumulated Amortization	$ 4,661	4,130
Domain Names [Member]
Weighted Average Useful Lives	10 years
Gross Carrying Amount	$ 437	437
Accumulated Amortization	$ 419	386
Other Intangible Assets [Member]
Weighted Average Useful Lives	6 years
Gross Carrying Amount	$ 1,365	1,174
Accumulated Amortization	$ 1,255	$ 1,043

Goodwill and Intangible Asset31

Goodwill and Intangible Assets (Details 2) $ in Thousands	Dec. 30, 2017USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,018	$ 2,435
2,019	8,855
2,020	8,747
2,021	8,696
2,022	8,579
2,023	8,496
2024 and thereafter	$ 105,915

Goodwill and Intangible Asset32

Goodwill and Intangible Assets (Details Narrative) - USD ($) $ in Thousands	9 Months Ended
	Dec. 30, 2017	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 7,041	$ 6,921

Debt (Details)

Debt (Details) - USD ($) $ in Thousands	Dec. 30, 2017	Apr. 01, 2017
Debt Instrument [Line Items]
Debt issuance costs	$ (3,324)	$ (4,392)
Total debt	197,953	269,800
Less: current portion	17,976	14,214
Long-term debt	179,977	255,586
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Total debt	194,250	267,000
Other Loan [Member]
Debt Instrument [Line Items]
Total debt	$ 7,027	$ 7,192

Debt (Details Narrative)

Debt (Details Narrative) SFr in Thousands, $ in Thousands	Apr. 24, 2015USD ($)	Oct. 01, 2012USD ($)	Oct. 01, 2012CHF (SFr)	Dec. 30, 2017USD ($)Customer	Dec. 30, 2017CHF (SFr)	Apr. 01, 2017USD ($)	Oct. 01, 2012CHF (SFr)
Issuance costs				$ (3,324)		$ (4,392)
Schaublin [Member]
Land and building leased		$ 9,857
Mortgage loan interest rate		2.90%	2.90%
Cash paid for purchase price		$ 5,053
Mortgage loan				7,027
Switzerland, Francs [Member] | Schaublin [Member]
Land and building leased | SFr							SFr 9,300
Cash paid for purchase price | SFr			SFr 4,767
Mortgage loan | SFr					SFr 6,859
Land and Building [Member]
Land and building leased		$ 14,910
Period for fixed rate on mortgage loan		20 years	20 years
Land and Building [Member] | Switzerland, Francs [Member]
Land and building leased | SFr							SFr 14,067
Revolving Credit Facility [Member] | Letter of Credit [Member]
Letters of credit				3,990
Maximum borrowing capacity				$ 324,260
New Credit Agreement [Member] | Minimum [Member]
Consolidated net debt adjusted EBITDA ratio | Customer				1
Consolidated Interest Coverage Ratio | Customer				1
New Credit Agreement [Member] | Maximum [Member]
Consolidated net debt adjusted EBITDA ratio | Customer				3.50
Consolidated Interest Coverage Ratio | Customer				2.75
Sargent Aerospace Defense Business [Member] | London Interbank Offered Rate (LIBOR) [Member]
Description of variable rate basis				(a) a base rate determined by reference to the higher of (1) Wells Fargo’s prime lending rate, (2) the federal funds effective rate plus 1/2 of 1% and (3) the one-month LIBOR rate plus 1% or (b) LIBOR rate plus a specified margin.
Basis spread on variable rate				1.00%
Sargent Aerospace Defense Business [Member] | Base Rate [Member]
Basis spread on variable rate				0.00%
Sargent Aerospace Defense Business [Member] | New Credit Agreement [Member]
Debt maturity date	Apr. 24, 2020
Issuance costs				$ 3,324
Original amount				7,122
Sargent Aerospace Defense Business [Member] | New Credit Agreement [Member] | Revolving Credit Facility [Member]
Face amount	$ 350,000
Outstanding amount				21,750
Sargent Aerospace Defense Business [Member] | New Credit Agreement [Member] | Term Loan [Member]
Face amount	$ 200,000
Outstanding amount				$ 172,500

Income Taxes (Details Narrative

Income Taxes (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Dec. 29, 2018
Income Tax Contingency [Line Items]
Effective income tax rate	23.90%	31.50%
Corporate income tax rate	35.00%
Reduced corporate income tax rate	21.00%
Blended statutory rate	31.50%
Estimated decrease in credits and state tax	$ 45	$ 56
Estimated charge due to changes in tax rate	9,491
Estimated benefit associated with the revaluation	8,708
Effective income tax rate reconciliation, unrecognized tax	$ 1,238
Effective income tax rate without discrete items	25.30%	31.80%
Subsequent Event [Member]
Income Tax Contingency [Line Items]
Estimated decrease in credits and state tax			$ 531

Reportable Segments (Details)

Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Dec. 30, 2017	Dec. 31, 2016	Dec. 30, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Net External Sales	$ 166,858	$ 146,656	$ 495,072	$ 455,178
Gross Margin	64,665	52,385	188,385	166,367
Selling, General & Administrative Expenses	28,162	25,712	83,535	76,696
Operating Income	33,123	20,529	90,201	79,304
Geographic External Sales	166,858	146,656	495,072	455,178
Intersegment Sales	13,069	11,547	39,088	37,154
Plain [Member]
Segment Reporting Information [Line Items]
Net External Sales	69,764	65,822	214,809	205,107
Gross Margin	26,615	26,814	82,719	79,971
Selling, General & Administrative Expenses	6,371	6,192	19,143	18,007
Operating Income	19,134	18,065	60,957	57,695
Intersegment Sales	1,240	1,146	3,793	3,248
Roller [Member]
Segment Reporting Information [Line Items]
Net External Sales	32,485	26,157	96,215	80,786
Gross Margin	14,425	6,397	40,077	30,182
Selling, General & Administrative Expenses	1,553	1,517	4,765	4,484
Operating Income	12,872	2,761	35,291	23,955
Intersegment Sales	3,438	3,264	9,731	11,512
Ball [Member]
Segment Reporting Information [Line Items]
Net External Sales	16,496	13,700	48,756	41,979
Gross Margin	7,021	5,336	19,936	15,823
Selling, General & Administrative Expenses	1,707	1,384	5,002	4,163
Operating Income	5,237	3,814	14,752	11,252
Intersegment Sales	606	370	1,758	1,211
Engineered Products [Member]
Segment Reporting Information [Line Items]
Net External Sales	48,113	40,977	135,292	127,306
Gross Margin	16,604	13,838	45,653	40,391
Selling, General & Administrative Expenses	5,338	4,534	15,737	13,840
Operating Income	8,817	7,831	17,839	22,564
Intersegment Sales	7,785	6,767	23,806	21,183
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Selling, General & Administrative Expenses	13,193	12,085	38,888	36,202
Operating Income	(12,937)	(11,942)	(38,638)	(36,162)
Domestic Tax Authority [Member]
Segment Reporting Information [Line Items]
Geographic External Sales	145,565	129,212	433,588	399,629
Foreign Tax Authority [Member]
Segment Reporting Information [Line Items]
Geographic External Sales	$ 21,293	$ 17,444	$ 61,484	$ 55,549

Reportable Segments (Details Na

Reportable Segments (Details Narrative)	9 Months Ended
	Dec. 30, 2017Segment
Segment Reporting [Abstract]
Number of reportable business segments	4

Integration and Restructuring38

Integration and Restructuring of Operations (Details Narrative) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended	15 Months Ended
	Dec. 30, 2017	Sep. 30, 2017	Dec. 31, 2016	Dec. 30, 2017	Dec. 29, 2018
Employee Termination Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 1,091
Engineered Products [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		$ 5,577		$ 6,668
Impairment of fixed assets		1,337
Impairment of intangible assets (excluding goodwill)		5,157
Discrete tax benefit		$ 917
Engineered Products [Member] | Subsequent Event [Member] | Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Total expected restructuring after-tax charges					$ 7,000
Engineered Products [Member] | Subsequent Event [Member] | Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Total expected restructuring after-tax charges					$ 7,500
Roller Bearings [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges			$ 7,060
Inventory rationalization costs			3,215
Impairment of intangible assets (excluding goodwill)			261
Loss on fixed assets disposals			2,402
Exit obligation associated with building operating lease			1,182
Pre tax charges			7,060
Discrete tax benefit			$ 2,222