Cavco Industries (CVCO) 10-Q 2 Aug 24 2025 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Jun. 29, 2024	Jul. 25, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 29, 2024
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		8,253,272
Entity Central Index Key	0000278166
Document Fiscal Year Focus	2025
Amendment Flag	false
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--03-29

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
Current assets
Cash and cash equivalents	$ 359,296	$ 352,687
Restricted cash, current	19,056	15,481
Accounts receivable, net	85,051	77,123
Short-term investments	20,671	18,270
Inventories	244,844	241,339
Prepaid expenses and other current assets	77,622	82,870
Total current assets	877,574	851,799
Restricted cash	585	585
Investments	14,916	17,316
Property, plant and equipment, net	224,749	224,199
Goodwill	121,969	121,934
Other intangibles, net	27,829	28,221
Operating lease right-of-use assets	37,712	39,027
Total assets	1,380,682	1,354,160
Current liabilities
Accounts payable	31,431	33,531
Accrued expenses and other current liabilities	264,574	239,736
Total current liabilities	296,005	273,267
Operating lease liabilities	33,873	35,148
Other liabilities	7,666	7,759
Deferred income taxes	4,598	4,575
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 9,401,057 and 9,389,953 shares, respectively; Outstanding 8,251,522 and 8,320,718 shares, respectively	94	94
Treasury stock, at cost; 1,149,535 and 1,069,235 shares, respectively	(303,897)	(274,693)
Additional paid-in capital	281,062	281,216
Retained earnings	1,061,556	1,027,127
Accumulated other comprehensive loss	(275)	(333)
Total stockholders' equity	1,038,540	1,033,411
Total liabilities and stockholders' equity	1,380,682	1,354,160
Consumer loans receivable
Current assets
Current portion of loans receivable, net	28,887	20,713
Loans receivable, net	22,151	23,354
Commercial Loans Receivable
Current assets
Current portion of loans receivable, net	42,147	43,316
Loans receivable, net	53,197	47,725
Commercial Loans Receivable | Nonrelated Party
Current assets
Current portion of loans receivable, net	40,363	40,787
Loans receivable, net	50,918	45,660
Commercial Loans Receivable | Related Party
Current assets
Current portion of loans receivable, net	1,784	2,529
Loans receivable, net	$ 2,279	$ 2,065

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Income Statement [Abstract]
Net revenue	$ 477,599	$ 475,875
Cost of sales	374,197	357,996
Gross profit	103,402	117,879
Selling, general and administrative expenses	64,851	61,680
Income from operations	38,551	56,199
Interest income	5,511	4,618
Interest expense	(90)	(266)
Other (expense) income, net	(111)	126
Income before income taxes	43,861	60,677
Income tax expense	(9,432)	(14,266)
Net income	34,429	46,411
Less: net income attributable to redeemable noncontrolling interest	0	54
Net income attributable to Cavco common stockholders	34,429	46,357
Comprehensive income
Net income	34,429	46,411
Reclassification adjustment for securities sold	9	3
Applicable income tax (expense)	(2)	(1)
Net change in unrealized position of investments held	65	(56)
Applicable income tax (expense) benefit	(14)	12
Comprehensive income	34,487	46,369
Less: comprehensive income attributable to redeemable noncontrolling interest	0	54
Comprehensive income attributable to Cavco common stockholders	$ 34,487	$ 46,315
Net income per share attributable to Cavco common stockholders
Basic (usd per share)	$ 4.15	$ 5.35
Diluted (usd per share)	$ 4.11	$ 5.29
Weighted average shares outstanding
Basic (in shares)	8,286,476	8,670,434
Diluted (in shares)	8,372,254	8,758,080

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
OPERATING ACTIVITIES
Net income	$ 34,429	$ 46,411
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	4,761	4,566
Provision for credit losses	89	19
Deferred income taxes	7	(1,868)
Stock-based compensation expense	2,195	1,438
Non-cash interest income, net	(286)	(297)
Loss on sale or retirement of property, plant and equipment, net	11	190
Gain on investments and sale of loans, net	(177)	(3,165)
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable	(7,977)	3,692
Proceeds from sales of consumer loans receivable	1,582	42,363
Inventories	(3,505)	9,110
Prepaid expenses and other current assets	5,648	15,151
Accounts payable, accrued expenses and other liabilities	22,921	3,111
Net cash provided by operating activities	47,393	82,293
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(4,975)	(4,183)
Proceeds from sale of property, plant and equipment	10	4,434
Purchases of investments	(4,547)	(1,710)
Proceeds from sale of investments	4,163	3,545
Net cash (used in) provided by investing activities	(5,349)	2,086
FINANCING ACTIVITIES
Payments for taxes on stock option exercises and releases of equity awards	(2,349)	(1,363)
Proceeds from exercise of stock options	0	150
Payments on finance leases and other secured financings	(51)	(157)
Payments for common stock repurchases	(29,463)	0
Distributions to noncontrolling interest	0	(120)
Net cash used in financing activities	(31,863)	(1,490)
Net increase in cash, cash equivalents and restricted cash	10,181	82,889
Cash, cash equivalents and restricted cash at beginning of the fiscal year	368,753	283,490
Cash, cash equivalents and restricted cash at end of the period	378,937	366,379
Supplemental disclosures of cash flow information
Cash paid for income taxes	4,720	8,123
Cash paid for interest	22	185
Supplemental disclosures of noncash activity
Change in GNMA loans eligible for repurchase	76	(1,873)
Right-of-use assets recognized and operating lease obligations incurred	1,315	687
Consumer loans receivable
Changes in operating assets and liabilities, net of acquisitions
Loans receivable originated	(20,833)	(36,737)
Principal payments received on loans receivable	12,922	1,819
Commercial Loans Receivable
Changes in operating assets and liabilities, net of acquisitions
Loans receivable originated	(26,750)	(28,726)
Principal payments received on loans receivable	$ 22,356	$ 25,216

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 29, 2024	Mar. 30, 2024
Statement of Financial Position [Abstract]
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	9,401,057	9,389,953
Common stock, shares outstanding (in shares)	8,251,522	8,320,718
Treasury stock, common shares (in shares)	1,149,535	1,069,235

Basis of Presentation

Basis of Presentation	3 Months Ended
	Jun. 29, 2024
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 interim results for the periods presented. 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 2024 Annual Report on Form 10-K for the year ended March 30, 2024, 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 29, 2025 and will include 52 weeks. 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.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Jun. 29, 2024
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board ("FASB"). ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the Company's Consolidated Financial Statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Taxes Disclosures, which requires greater disaggregation of income tax disclosures. The new standard requires additional information to be disclosed with respect to the income tax rate reconciliation and income taxes paid disaggregated by jurisdiction. This ASU should be applied prospectively for fiscal years beginning after December 15, 2024, with retrospective application permitted. The Company is currently evaluating the impacts of this guidance on the Company’s Consolidated Financial Statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires companies to enhance the disclosures about segment expenses. The new standard requires the disclosure of the Company’s Chief Operating Decision Maker ("CODM"), expanded incremental line-item disclosures of significant segment expenses used by the CODM for decision-making, and the inclusion of previous annual only segment disclosure requirements on a quarterly basis. This ASU should be applied retrospectively for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impacts of this guidance on the Company’s Consolidated Financial Statements.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	3 Months Ended
	Jun. 29, 2024
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 June 29, July 1, Factory-built housing Home sales $ 436,429 $ 439,744 Delivery, setup and other revenues 21,619 17,365 458,048 457,109 Financial services Insurance agency commissions received from third-party insurance companies 1,406 899 All other sources 18,145 17,867 19,551 18,766 $ 477,599 $ 475,875

Investments

Investments	3 Months Ended
	Jun. 29, 2024
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Investments consisted of the following (in thousands): June 29, March 30, Available-for-sale debt securities $ 20,025 $ 18,669 Marketable equity securities 10,628 11,961 Non-marketable equity investments 4,934 4,956 35,587 35,586 Less short-term investments (20,671) (18,270) $ 14,916 $ 17,316 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): June 29, 2024 March 30, 2024 Amortized Fair Amortized Cost Fair Residential mortgage-backed securities $ 4,849 $ 4,782 $ 2,933 $ 2,865 State and political subdivision debt securities 5,103 5,015 5,041 4,930 Corporate debt securities 10,423 10,228 11,117 10,874 $ 20,375 $ 20,025 $ 19,091 $ 18,669 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 may differ from contractual maturities as borrowers at times have the right to call or prepay obligations, with or without penalties. June 29, 2024 Amortized Fair Due in less than one year $ 7,880 $ 7,778 Due after one year through five years 7,421 7,240 Due after five years through ten years 225 225 Due after ten years — — Mortgage-backed securities 4,849 4,782 $ 20,375 $ 20,025 Net investment gains and losses on marketable equity securities were as follows (in thousands): Three Months Ended June 29, July 1, Marketable equity securities Net (loss) gain recognized during the period $ (454) $ 460 Less: Net (gain) recognized on securities sold during the period (552) (20) Unrealized (loss) gain recognized during the period on securities still held $ (1,006) $ 440

Inventories

Inventories	3 Months Ended
	Jun. 29, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories consisted of the following (in thousands): June 29, March 30, Raw materials $ 75,589 $ 78,241 Work in process 30,089 27,977 Finished goods 139,166 135,121 $ 244,844 $ 241,339

Consumer Loans Receivable

Consumer Loans Receivable	3 Months Ended
	Jun. 29, 2024
Receivables [Abstract]
Consumer Loans Receivable	Consumer Loans Receivable The following table summarizes consumer loans receivable (in thousands): June 29, March 30, Loans held for investment, previously securitized $ 15,989 $ 16,968 Loans held for investment 12,612 12,826 Loans held for sale 22,432 15,140 Construction advances 1,615 722 52,648 45,656 Deferred financing fees and other, net (594) (523) Allowance for loan losses (1,016) (1,066) 51,038 44,067 Less current portion (28,887) (20,713) $ 22,151 $ 23,354 The consumer loans held for investment had the following characteristics: June 29, March 30, Weighted average contractual interest rate 8.1 % 8.1 % Weighted average effective interest rate 8.9 % 10.4 % Weighted average months to maturity 208 196 The following table is a consolidated summary of the delinquency status of the outstanding principal balance of consumer loans receivable (in thousands): June 29, March 30, Current $ 50,756 $ 43,810 31 to 60 days 547 1,063 61 to 90 days 446 131 91+ days 899 652 $ 52,648 $ 45,656 The following table disaggregates the outstanding principal balance of consumer loans receivable by credit quality indicator and fiscal year of origination (in thousands): June 29, 2024 2025 2024 2023 2022 2021 Prior Total Prime- FICO score 680 and greater $ 10,791 $ 9,707 $ 327 $ 95 $ 879 $ 15,566 $ 37,365 Near Prime- FICO score 620-679 1,128 2,144 — — 1,044 9,269 13,585 Sub-Prime- FICO score less than 620 — — — — 18 718 736 No FICO score 212 446 — — — 304 962 $ 12,131 $ 12,297 $ 327 $ 95 $ 1,941 $ 25,857 $ 52,648 March 30, 2024 2024 2023 2022 2021 2020 Prior Total Prime- FICO score 680 and greater $ 14,107 $ 328 $ 96 $ 885 $ 1,808 $ 14,425 $ 31,649 Near Prime- FICO score 620-679 1,633 — — 1,202 942 8,684 12,461 Sub-Prime- FICO score less than 620 — — — 18 49 723 790 No FICO score 447 — — — — 309 756 $ 16,187 $ 328 $ 96 $ 2,105 $ 2,799 $ 24,141 $ 45,656 As of June 29, 2024, 49% of the outstanding principal balance of the consumer loans receivable portfolio was concentrated in Texas. As of March 30, 2024, 46% of the outstanding principal balance of the consumer loans receivable portfolio was concentrated in Texas and 10% 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 June 29, 2024 or March 30, 2024. 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): June 29, March 30, Loans receivable $ 96,366 $ 91,938 Allowance for loan losses (884) (781) Deferred financing fees, net (138) (116) 95,344 91,041 Less current portion of commercial loans receivable (including from affiliates), net (42,147) (43,316) $ 53,197 $ 47,725 The commercial loans receivable balance had the following characteristics: June 29, March 30, Weighted average contractual interest rate 7.0 % 7.4 % Weighted average months outstanding 12 12 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 June 29, 2024 and March 30, 2024, 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): June 29, 2024 2025 2024 2023 2022 2021 Total Performing $ 69,499 $ 19,089 $ 3,761 $ 1,925 $ 2,092 $ 96,366 March 30, 2024 2024 2023 2022 2021 2020 Total Performing $ 57,691 $ 25,066 $ 4,823 $ 2,144 $ 2,214 $ 91,938 As of June 29, 2024 and March 30, 2024, 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 June 29, 2024, we had concentrations of our outstanding principal balance of the commercial loans receivable balance in New York of 19% and California of 14%. As of March 30, 2024, 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 June 29, 2024 or March 30, 2024.

Commercial Loans Receivables

Commercial Loans Receivables	3 Months Ended
	Jun. 29, 2024
Receivables [Abstract]
Commercial Loans Receivable	Consumer Loans Receivable The following table summarizes consumer loans receivable (in thousands): June 29, March 30, Loans held for investment, previously securitized $ 15,989 $ 16,968 Loans held for investment 12,612 12,826 Loans held for sale 22,432 15,140 Construction advances 1,615 722 52,648 45,656 Deferred financing fees and other, net (594) (523) Allowance for loan losses (1,016) (1,066) 51,038 44,067 Less current portion (28,887) (20,713) $ 22,151 $ 23,354 The consumer loans held for investment had the following characteristics: June 29, March 30, Weighted average contractual interest rate 8.1 % 8.1 % Weighted average effective interest rate 8.9 % 10.4 % Weighted average months to maturity 208 196 The following table is a consolidated summary of the delinquency status of the outstanding principal balance of consumer loans receivable (in thousands): June 29, March 30, Current $ 50,756 $ 43,810 31 to 60 days 547 1,063 61 to 90 days 446 131 91+ days 899 652 $ 52,648 $ 45,656 The following table disaggregates the outstanding principal balance of consumer loans receivable by credit quality indicator and fiscal year of origination (in thousands): June 29, 2024 2025 2024 2023 2022 2021 Prior Total Prime- FICO score 680 and greater $ 10,791 $ 9,707 $ 327 $ 95 $ 879 $ 15,566 $ 37,365 Near Prime- FICO score 620-679 1,128 2,144 — — 1,044 9,269 13,585 Sub-Prime- FICO score less than 620 — — — — 18 718 736 No FICO score 212 446 — — — 304 962 $ 12,131 $ 12,297 $ 327 $ 95 $ 1,941 $ 25,857 $ 52,648 March 30, 2024 2024 2023 2022 2021 2020 Prior Total Prime- FICO score 680 and greater $ 14,107 $ 328 $ 96 $ 885 $ 1,808 $ 14,425 $ 31,649 Near Prime- FICO score 620-679 1,633 — — 1,202 942 8,684 12,461 Sub-Prime- FICO score less than 620 — — — 18 49 723 790 No FICO score 447 — — — — 309 756 $ 16,187 $ 328 $ 96 $ 2,105 $ 2,799 $ 24,141 $ 45,656 As of June 29, 2024, 49% of the outstanding principal balance of the consumer loans receivable portfolio was concentrated in Texas. As of March 30, 2024, 46% of the outstanding principal balance of the consumer loans receivable portfolio was concentrated in Texas and 10% 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 June 29, 2024 or March 30, 2024. 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): June 29, March 30, Loans receivable $ 96,366 $ 91,938 Allowance for loan losses (884) (781) Deferred financing fees, net (138) (116) 95,344 91,041 Less current portion of commercial loans receivable (including from affiliates), net (42,147) (43,316) $ 53,197 $ 47,725 The commercial loans receivable balance had the following characteristics: June 29, March 30, Weighted average contractual interest rate 7.0 % 7.4 % Weighted average months outstanding 12 12 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 June 29, 2024 and March 30, 2024, 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): June 29, 2024 2025 2024 2023 2022 2021 Total Performing $ 69,499 $ 19,089 $ 3,761 $ 1,925 $ 2,092 $ 96,366 March 30, 2024 2024 2023 2022 2021 2020 Total Performing $ 57,691 $ 25,066 $ 4,823 $ 2,144 $ 2,214 $ 91,938 As of June 29, 2024 and March 30, 2024, 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 June 29, 2024, we had concentrations of our outstanding principal balance of the commercial loans receivable balance in New York of 19% and California of 14%. As of March 30, 2024, 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 June 29, 2024 or March 30, 2024.

Leases

Leases	3 Months Ended
	Jun. 29, 2024
Leases [Abstract]
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 June 29, 2024 and March 30, 2024 (in thousands): Classification June 29, March 30, ROU assets Operating lease assets Operating lease right-of-use ("ROU") assets $ 37,712 $ 39,027 Finance lease assets Property, plant and equipment, net (1) 5,869 5,913 Total lease assets $ 43,581 $ 44,940 Lease Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 5,466 $ 5,303 Finance lease liabilities Accrued expenses and other current liabilities 81 80 Non-current: Operating lease liabilities Operating lease liabilities 33,873 35,148 Finance lease liabilities Other liabilities 6,066 6,086 Total lease liabilities $ 45,486 $ 46,617 (1) Recorded net of accumulated amortization of $0.5 million and $0.4 million as of June 29, 2024 and March 30, 2024, respectively.
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 June 29, 2024 and March 30, 2024 (in thousands): Classification June 29, March 30, ROU assets Operating lease assets Operating lease right-of-use ("ROU") assets $ 37,712 $ 39,027 Finance lease assets Property, plant and equipment, net (1) 5,869 5,913 Total lease assets $ 43,581 $ 44,940 Lease Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 5,466 $ 5,303 Finance lease liabilities Accrued expenses and other current liabilities 81 80 Non-current: Operating lease liabilities Operating lease liabilities 33,873 35,148 Finance lease liabilities Other liabilities 6,066 6,086 Total lease liabilities $ 45,486 $ 46,617 (1) Recorded net of accumulated amortization of $0.5 million and $0.4 million as of June 29, 2024 and March 30, 2024, respectively.

Accrued Expenses and Other Curr

Accrued Expenses and Other Current Liabilities	3 Months Ended
	Jun. 29, 2024
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): June 29, March 30, Salaries, wages and benefits $ 40,823 $ 38,125 Customer deposits 44,994 40,856 Unearned insurance premiums 35,914 33,449 Estimated warranties 31,815 31,718 Accrued volume rebates 24,671 21,167 Insurance loss reserves 18,927 10,540 Accrued self-insurance 14,692 14,124 Other 52,738 49,757 $ 264,574 $ 239,736

Warranties

Warranties	3 Months Ended
	Jun. 29, 2024
Product Warranties Disclosures [Abstract]
Warranties	Warranties Activity in the liability for estimated warranties was as follows (in thousands): Three Months Ended June 29, July 1, Balance at beginning of period $ 31,718 $ 31,368 Charged to costs and expenses 12,091 13,409 Payments and deductions (11,994) (12,376) Balance at end of period $ 31,815 $ 32,401

Other Liabilities

Other Liabilities	3 Months Ended
	Jun. 29, 2024
Debt Disclosure [Abstract]
Other Liabilities	Other Liabilities The following table summarizes secured financings and other obligations (in thousands): June 29, March 30, Finance lease liabilities $ 6,147 $ 6,166 Other secured financing 1,849 1,916 7,996 8,082 Less current portion included in Accrued expenses and other current liabilities (330) (323) $ 7,666 $ 7,759

Debt

Debt	3 Months Ended
	Jun. 29, 2024
Debt Disclosure [Abstract]
Debt	Debt We are party to a Credit Agreement (the "Credit Agreement") that matures in November 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 June 29, 2024 and March 30, 2024, 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	3 Months Ended
	Jun. 29, 2024
Insurance [Abstract]
Reinsurance and Insurance Loss Reserves	Reinsurance and Insurance Loss Reserves Certain of Standard Casualty Company's ("Standard Casualty") 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 June 29, 2024 July 1, 2023 Written Earned Written Earned Direct premiums $ 13,503 $ 12,302 $ 10,379 $ 8,676 Assumed premiums—nonaffiliated 11,735 9,504 9,800 8,570 Ceded premiums—nonaffiliated (8,185) (8,185) (6,127) (6,127) $ 17,053 $ 13,621 $ 14,052 $ 11,119 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 $4.0 million per occurrence, up to a maximum of $110 million in the aggregate for that occurrence. The following details the activity in the incurred but not reported ("IBNR") reserve for the three months ended June 29, 2024 and July 1, 2023 (in thousands): Three Months Ended June 29, July 1, Balance at beginning of period $ 10,540 $ 10,939 Net incurred losses during the period 17,963 11,077 Net claim payments during the period (9,576) (9,015) Balance at end of period $ 18,927 $ 13,001

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Jun. 29, 2024
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 $121 million at June 29, 2024 and March 30, 2024, without reduction for the estimated resale value of the homes. During the first quarter of fiscal 2025 we did not receive any demand notices. 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 $3.0 million at June 29, 2024 and $2.9 million at March 30, 2024. Construction-Period Mortgages. Loan contracts with off-balance sheet commitments are summarized below (in thousands): June 29, March 30, Construction loan contract amount $ 3,252 $ 1,960 Cumulative advances (1,615) (722) $ 1,637 $ 1,238 Representations and Warranties of Mortgages Sold . The reserve for contingent repurchases and indemnification obliga tions was $0.6 million as of June 29, 2024 and March 30, 2024, 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 three months ended June 29, 2024 or July 1, 2023 . Interest Rate Lock Commitments ("IRLCs") . As of June 29, 2024 and July 1, 2023, w e had outstanding IRLCs with a notional amount of $24.5 million and $31.1 million, respectively. For the three months ended June 29, 2024 and July 1, 2023, we recognized insignificant non-cash gains on outstanding IRLCs. Forward Sales Commitments . As of June 29, 2024 and July 1, 2023, we had $4.7 million and $1.1 million in outstanding forward sales commitments ("Commitments"), respectively. During the three months ended June 29, 2024, we recognized insignificant non-cash losses. During the three months ended July 1, 2023, we recognized an insignificant non-cash gain. 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	3 Months Ended
	Jun. 29, 2024
Stockholders' Equity Note [Abstract]
Stockholders' Equity and Redeemable Noncontrolling Interest	Stockholders' Equity and Redeemable Noncontrolling Interest The following tables represent changes in stockholders' equity attributable to Cavco's stockholders and redeemable noncontrolling interest during the three months ended June 29, 2024 and July 1, 2023, respectively (dollars in thousands): Equity Attributable to Cavco Stockholders Treasury stock Additional paid-in capital Retained earnings Accumulated other comprehensive income (loss) Total Common Stock Shares Amount Balance, March 30, 2024 9,389,953 $ 94 $ (274,693) $ 281,216 $ 1,027,127 $ (333) $ 1,033,411 Net income — — — — 34,429 — 34,429 Other comprehensive income, net — — — — — 58 58 Net issuance of common stock under stock incentive plans 11,104 — — (2,348) — — (2,348) Stock-based compensation — — — 2,194 — — 2,194 Common stock repurchases (29,204) (29,204) Balance, June 29, 2024 9,401,057 $ 94 $ (303,897) $ 281,062 $ 1,061,556 $ (275) $ 1,038,540 Equity Attributable to Cavco Stockholders Treasury stock Additional paid-in capital Retained earnings Accumulated other comprehensive 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) — Net issuance of common stock under stock incentive plans 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

Earnings Per Share

Earnings Per Share	3 Months Ended
	Jun. 29, 2024
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 June 29, July 1, Net income attributable to Cavco common stockholders $ 34,429 $ 46,357 Weighted average shares outstanding Basic 8,286,476 8,670,434 Effect of dilutive securities 85,778 87,646 Diluted 8,372,254 8,758,080 Net income per share attributable to Cavco common stockholders Basic $ 4.15 $ 5.35 Diluted $ 4.11 $ 5.29 Anti-dilutive common stock equivalents excluded 257 39

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Jun. 29, 2024
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): June 29, 2024 March 30, 2024 Book Estimated Book Estimated Available-for-sale debt securities $ 20,025 $ 20,025 $ 18,669 $ 18,669 Marketable equity securities 10,628 10,628 11,961 11,961 Non-marketable equity investments 4,934 4,934 4,956 4,956 Consumer loans receivable 51,038 55,262 44,067 49,105 Commercial loans receivable 95,344 80,631 91,041 80,764 Other secured financing (1,849) (1,779) (1,916) (1,841) 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. June 29, March 30, Number of loans serviced with MSRs 3,782 3,842 Weighted average servicing fee (basis points) 34.78 34.79 Capitalized servicing multiple 193.0 % 188.59 % Capitalized servicing rate (basis points) 67.13 65.61 Serviced portfolio with MSRs (in thousands) $ 473,607 $ 482,898 MSRs (in thousands) $ 3,179 $ 3,168

Business Segment Information

Business Segment Information	3 Months Ended
	Jun. 29, 2024
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 June 29, July 1, Net revenue: Factory-built housing $ 458,048 $ 457,109 Financial services 19,551 18,766 $ 477,599 $ 475,875 Income before income taxes: Factory-built housing $ 49,100 $ 61,825 Financial services (5,239) (1,148) $ 43,861 $ 60,677 June 29, March 30, Total assets: Factory-built housing $ 1,160,480 $ 1,141,237 Financial services 220,202 212,923 $ 1,380,682 $ 1,354,160

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ 34,429	$ 46,357

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 29, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Jun. 29, 2024	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 interim results for the periods presented. 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 2024 Annual Report on Form 10-K for the year ended March 30, 2024, filed with the SEC ("Form 10-K").
Accounting Estimate	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.
Fiscal Year	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 29, 2025 and will include 52 weeks.
Recent Accounting Pronouncements	The Company considers the applicability and impact of all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board ("FASB"). ASUs not listed below were assessed and determined to be either not applicable or are expected to have minimal impact on the Company's Consolidated Financial Statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Taxes Disclosures, which requires greater disaggregation of income tax disclosures. The new standard requires additional information to be disclosed with respect to the income tax rate reconciliation and income taxes paid disaggregated by jurisdiction. This ASU should be applied prospectively for fiscal years beginning after December 15, 2024, with retrospective application permitted. The Company is currently evaluating the impacts of this guidance on the Company’s Consolidated Financial Statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which requires companies to enhance the disclosures about segment expenses. The new standard requires the disclosure of the Company’s Chief Operating Decision Maker ("CODM"), expanded incremental line-item disclosures of significant segment expenses used by the CODM for decision-making, and the inclusion of previous annual only segment disclosure requirements on a quarterly basis. This ASU should be applied retrospectively for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impacts of this guidance on the Company’s Consolidated Financial Statements.
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 June 29, 2024 and March 30, 2024, 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 three months ended June 29, 2024 or July 1, 2023 .
Interest Rate Lock Commitments and Forward Sales Commitments	Interest Rate Lock Commitments ("IRLCs") . As of June 29, 2024 and July 1, 2023, w e had outstanding IRLCs with a notional amount of $24.5 million and $31.1 million, respectively. For the three months ended June 29, 2024 and July 1, 2023, we recognized insignificant non-cash gains on outstanding IRLCs. Forward Sales Commitments . As of June 29, 2024 and July 1, 2023, we had $4.7 million and $1.1 million in outstanding forward sales commitments ("Commitments"), respectively. During the three months ended June 29, 2024, we recognized insignificant non-cash losses. During the three months ended July 1, 2023, we recognized an insignificant non-cash gain.
Mortgage Servicing	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)	3 Months Ended
	Jun. 29, 2024
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 June 29, July 1, Factory-built housing Home sales $ 436,429 $ 439,744 Delivery, setup and other revenues 21,619 17,365 458,048 457,109 Financial services Insurance agency commissions received from third-party insurance companies 1,406 899 All other sources 18,145 17,867 19,551 18,766 $ 477,599 $ 475,875

Investments (Tables)

Investments (Tables)	3 Months Ended
	Jun. 29, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Investments	Investments consisted of the following (in thousands): June 29, March 30, Available-for-sale debt securities $ 20,025 $ 18,669 Marketable equity securities 10,628 11,961 Non-marketable equity investments 4,934 4,956 35,587 35,586 Less short-term investments (20,671) (18,270) $ 14,916 $ 17,316
Schedule of Available-for-Sale Securities Reconciliation	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): June 29, 2024 March 30, 2024 Amortized Fair Amortized Cost Fair Residential mortgage-backed securities $ 4,849 $ 4,782 $ 2,933 $ 2,865 State and political subdivision debt securities 5,103 5,015 5,041 4,930 Corporate debt securities 10,423 10,228 11,117 10,874 $ 20,375 $ 20,025 $ 19,091 $ 18,669
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 may differ from contractual maturities as borrowers at times have the right to call or prepay obligations, with or without penalties. June 29, 2024 Amortized Fair Due in less than one year $ 7,880 $ 7,778 Due after one year through five years 7,421 7,240 Due after five years through ten years 225 225 Due after ten years — — Mortgage-backed securities 4,849 4,782 $ 20,375 $ 20,025
Gain (Loss) on Securities	Net investment gains and losses on marketable equity securities were as follows (in thousands): Three Months Ended June 29, July 1, Marketable equity securities Net (loss) gain recognized during the period $ (454) $ 460 Less: Net (gain) recognized on securities sold during the period (552) (20) Unrealized (loss) gain recognized during the period on securities still held $ (1,006) $ 440

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Jun. 29, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consisted of the following (in thousands): June 29, March 30, Raw materials $ 75,589 $ 78,241 Work in process 30,089 27,977 Finished goods 139,166 135,121 $ 244,844 $ 241,339

Consumer Loans Receivable (Tabl

Consumer Loans Receivable (Tables)	3 Months Ended
	Jun. 29, 2024
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	The following table summarizes consumer loans receivable (in thousands): June 29, March 30, Loans held for investment, previously securitized $ 15,989 $ 16,968 Loans held for investment 12,612 12,826 Loans held for sale 22,432 15,140 Construction advances 1,615 722 52,648 45,656 Deferred financing fees and other, net (594) (523) Allowance for loan losses (1,016) (1,066) 51,038 44,067 Less current portion (28,887) (20,713) $ 22,151 $ 23,354 Commercial loans receivable, net consisted of the following (in thousands): June 29, March 30, Loans receivable $ 96,366 $ 91,938 Allowance for loan losses (884) (781) Deferred financing fees, net (138) (116) 95,344 91,041 Less current portion of commercial loans receivable (including from affiliates), net (42,147) (43,316) $ 53,197 $ 47,725
Consumer Loans Held for Investment Characteristics	The consumer loans held for investment had the following characteristics: June 29, March 30, Weighted average contractual interest rate 8.1 % 8.1 % Weighted average effective interest rate 8.9 % 10.4 % Weighted average months to maturity 208 196
Financing Receivable, Modified	The following table is a consolidated summary of the delinquency status of the outstanding principal balance of consumer loans receivable (in thousands): June 29, March 30, Current $ 50,756 $ 43,810 31 to 60 days 547 1,063 61 to 90 days 446 131 91+ days 899 652 $ 52,648 $ 45,656
Financing Receivable Credit Quality Indicators	The following table disaggregates the outstanding principal balance of consumer loans receivable by credit quality indicator and fiscal year of origination (in thousands): June 29, 2024 2025 2024 2023 2022 2021 Prior Total Prime- FICO score 680 and greater $ 10,791 $ 9,707 $ 327 $ 95 $ 879 $ 15,566 $ 37,365 Near Prime- FICO score 620-679 1,128 2,144 — — 1,044 9,269 13,585 Sub-Prime- FICO score less than 620 — — — — 18 718 736 No FICO score 212 446 — — — 304 962 $ 12,131 $ 12,297 $ 327 $ 95 $ 1,941 $ 25,857 $ 52,648 March 30, 2024 2024 2023 2022 2021 2020 Prior Total Prime- FICO score 680 and greater $ 14,107 $ 328 $ 96 $ 885 $ 1,808 $ 14,425 $ 31,649 Near Prime- FICO score 620-679 1,633 — — 1,202 942 8,684 12,461 Sub-Prime- FICO score less than 620 — — — 18 49 723 790 No FICO score 447 — — — — 309 756 $ 16,187 $ 328 $ 96 $ 2,105 $ 2,799 $ 24,141 $ 45,656 June 29, 2024 2025 2024 2023 2022 2021 Total Performing $ 69,499 $ 19,089 $ 3,761 $ 1,925 $ 2,092 $ 96,366 March 30, 2024 2024 2023 2022 2021 2020 Total Performing $ 57,691 $ 25,066 $ 4,823 $ 2,144 $ 2,214 $ 91,938

Commercial Loans Receivables (T

Commercial Loans Receivables (Tables)	3 Months Ended
	Jun. 29, 2024
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	The following table summarizes consumer loans receivable (in thousands): June 29, March 30, Loans held for investment, previously securitized $ 15,989 $ 16,968 Loans held for investment 12,612 12,826 Loans held for sale 22,432 15,140 Construction advances 1,615 722 52,648 45,656 Deferred financing fees and other, net (594) (523) Allowance for loan losses (1,016) (1,066) 51,038 44,067 Less current portion (28,887) (20,713) $ 22,151 $ 23,354 Commercial loans receivable, net consisted of the following (in thousands): June 29, March 30, Loans receivable $ 96,366 $ 91,938 Allowance for loan losses (884) (781) Deferred financing fees, net (138) (116) 95,344 91,041 Less current portion of commercial loans receivable (including from affiliates), net (42,147) (43,316) $ 53,197 $ 47,725
Commercial Loans Receivable Characteristics	The commercial loans receivable balance had the following characteristics: June 29, March 30, Weighted average contractual interest rate 7.0 % 7.4 % Weighted average months outstanding 12 12
Commercial Loans Receivables by Class and Internal Credit Quality Indicator	The following table disaggregates the outstanding principal balance of consumer loans receivable by credit quality indicator and fiscal year of origination (in thousands): June 29, 2024 2025 2024 2023 2022 2021 Prior Total Prime- FICO score 680 and greater $ 10,791 $ 9,707 $ 327 $ 95 $ 879 $ 15,566 $ 37,365 Near Prime- FICO score 620-679 1,128 2,144 — — 1,044 9,269 13,585 Sub-Prime- FICO score less than 620 — — — — 18 718 736 No FICO score 212 446 — — — 304 962 $ 12,131 $ 12,297 $ 327 $ 95 $ 1,941 $ 25,857 $ 52,648 March 30, 2024 2024 2023 2022 2021 2020 Prior Total Prime- FICO score 680 and greater $ 14,107 $ 328 $ 96 $ 885 $ 1,808 $ 14,425 $ 31,649 Near Prime- FICO score 620-679 1,633 — — 1,202 942 8,684 12,461 Sub-Prime- FICO score less than 620 — — — 18 49 723 790 No FICO score 447 — — — — 309 756 $ 16,187 $ 328 $ 96 $ 2,105 $ 2,799 $ 24,141 $ 45,656 June 29, 2024 2025 2024 2023 2022 2021 Total Performing $ 69,499 $ 19,089 $ 3,761 $ 1,925 $ 2,092 $ 96,366 March 30, 2024 2024 2023 2022 2021 2020 Total Performing $ 57,691 $ 25,066 $ 4,823 $ 2,144 $ 2,214 $ 91,938

Leases (Tables)

Leases (Tables)	3 Months Ended
	Jun. 29, 2024
Leases [Abstract]
Assets And Liabilities, Lessee	The following table provides information about the financial statement classification of our lease balances reported within the Consolidated Balance Sheets as of June 29, 2024 and March 30, 2024 (in thousands): Classification June 29, March 30, ROU assets Operating lease assets Operating lease right-of-use ("ROU") assets $ 37,712 $ 39,027 Finance lease assets Property, plant and equipment, net (1) 5,869 5,913 Total lease assets $ 43,581 $ 44,940 Lease Liabilities Current: Operating lease liabilities Accrued expenses and other current liabilities $ 5,466 $ 5,303 Finance lease liabilities Accrued expenses and other current liabilities 81 80 Non-current: Operating lease liabilities Operating lease liabilities 33,873 35,148 Finance lease liabilities Other liabilities 6,066 6,086 Total lease liabilities $ 45,486 $ 46,617 (1) Recorded net of accumulated amortization of $0.5 million and $0.4 million as of June 29, 2024 and March 30, 2024, respectively.

Accrued Expenses and Other Cu_2

Accrued Expenses and Other Current Liabilities (Tables)	3 Months Ended
	Jun. 29, 2024
Payables and Accruals [Abstract]
Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following (in thousands): June 29, March 30, Salaries, wages and benefits $ 40,823 $ 38,125 Customer deposits 44,994 40,856 Unearned insurance premiums 35,914 33,449 Estimated warranties 31,815 31,718 Accrued volume rebates 24,671 21,167 Insurance loss reserves 18,927 10,540 Accrued self-insurance 14,692 14,124 Other 52,738 49,757 $ 264,574 $ 239,736

Warranties (Tables)

Warranties (Tables)	3 Months Ended
	Jun. 29, 2024
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 June 29, July 1, Balance at beginning of period $ 31,718 $ 31,368 Charged to costs and expenses 12,091 13,409 Payments and deductions (11,994) (12,376) Balance at end of period $ 31,815 $ 32,401

Other Liabilities (Tables)

Other Liabilities (Tables)	3 Months Ended
	Jun. 29, 2024
Debt Disclosure [Abstract]
Other Liabilities	The following table summarizes secured financings and other obligations (in thousands): June 29, March 30, Finance lease liabilities $ 6,147 $ 6,166 Other secured financing 1,849 1,916 7,996 8,082 Less current portion included in Accrued expenses and other current liabilities (330) (323) $ 7,666 $ 7,759

Reinsurance and Insurance Los_2

Reinsurance and Insurance Loss Reserves (Tables)	3 Months Ended
	Jun. 29, 2024
Insurance [Abstract]
Effects of Reinsurance	The effects of reinsurance on premiums written and earned were as follows (in thousands): Three Months Ended June 29, 2024 July 1, 2023 Written Earned Written Earned Direct premiums $ 13,503 $ 12,302 $ 10,379 $ 8,676 Assumed premiums—nonaffiliated 11,735 9,504 9,800 8,570 Ceded premiums—nonaffiliated (8,185) (8,185) (6,127) (6,127) $ 17,053 $ 13,621 $ 14,052 $ 11,119
Loss Reserve Rollforward	The following details the activity in the incurred but not reported ("IBNR") reserve for the three months ended June 29, 2024 and July 1, 2023 (in thousands): Three Months Ended June 29, July 1, Balance at beginning of period $ 10,540 $ 10,939 Net incurred losses during the period 17,963 11,077 Net claim payments during the period (9,576) (9,015) Balance at end of period $ 18,927 $ 13,001

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Jun. 29, 2024
Commitments and Contingencies Disclosure [Abstract]
Loan Contracts with Off-Balance Sheet Commitments	Construction-Period Mortgages. Loan contracts with off-balance sheet commitments are summarized below (in thousands): June 29, March 30, Construction loan contract amount $ 3,252 $ 1,960 Cumulative advances (1,615) (722) $ 1,637 $ 1,238

Stockholders' Equity and Rede_2

Stockholders' Equity and Redeemable Noncontrolling Interest (Tables)	3 Months Ended
	Jun. 29, 2024
Stockholders' Equity Note [Abstract]
Schedule of Stockholders' Equity and Redeemable Noncontrolling Interest	The following tables represent changes in stockholders' equity attributable to Cavco's stockholders and redeemable noncontrolling interest during the three months ended June 29, 2024 and July 1, 2023, respectively (dollars in thousands): Equity Attributable to Cavco Stockholders Treasury stock Additional paid-in capital Retained earnings Accumulated other comprehensive income (loss) Total Common Stock Shares Amount Balance, March 30, 2024 9,389,953 $ 94 $ (274,693) $ 281,216 $ 1,027,127 $ (333) $ 1,033,411 Net income — — — — 34,429 — 34,429 Other comprehensive income, net — — — — — 58 58 Net issuance of common stock under stock incentive plans 11,104 — — (2,348) — — (2,348) Stock-based compensation — — — 2,194 — — 2,194 Common stock repurchases (29,204) (29,204) Balance, June 29, 2024 9,401,057 $ 94 $ (303,897) $ 281,062 $ 1,061,556 $ (275) $ 1,038,540 Equity Attributable to Cavco Stockholders Treasury stock Additional paid-in capital Retained earnings Accumulated other comprehensive 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) — Net issuance of common stock under stock incentive plans 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

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Jun. 29, 2024
Earnings Per Share [Abstract]
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 June 29, July 1, Net income attributable to Cavco common stockholders $ 34,429 $ 46,357 Weighted average shares outstanding Basic 8,286,476 8,670,434 Effect of dilutive securities 85,778 87,646 Diluted 8,372,254 8,758,080 Net income per share attributable to Cavco common stockholders Basic $ 4.15 $ 5.35 Diluted $ 4.11 $ 5.29 Anti-dilutive common stock equivalents excluded 257 39

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Jun. 29, 2024
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): June 29, 2024 March 30, 2024 Book Estimated Book Estimated Available-for-sale debt securities $ 20,025 $ 20,025 $ 18,669 $ 18,669 Marketable equity securities 10,628 10,628 11,961 11,961 Non-marketable equity investments 4,934 4,934 4,956 4,956 Consumer loans receivable 51,038 55,262 44,067 49,105 Commercial loans receivable 95,344 80,631 91,041 80,764 Other secured financing (1,849) (1,779) (1,916) (1,841)
Assumptions for Mortgage Servicing Rights	June 29, March 30, Number of loans serviced with MSRs 3,782 3,842 Weighted average servicing fee (basis points) 34.78 34.79 Capitalized servicing multiple 193.0 % 188.59 % Capitalized servicing rate (basis points) 67.13 65.61 Serviced portfolio with MSRs (in thousands) $ 473,607 $ 482,898 MSRs (in thousands) $ 3,179 $ 3,168

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Jun. 29, 2024
Segment Reporting [Abstract]
Business Segment Information	The following table provides selected financial data by segment (in thousands): Three Months Ended June 29, July 1, Net revenue: Factory-built housing $ 458,048 $ 457,109 Financial services 19,551 18,766 $ 477,599 $ 475,875 Income before income taxes: Factory-built housing $ 49,100 $ 61,825 Financial services (5,239) (1,148) $ 43,861 $ 60,677 June 29, March 30, Total assets: Factory-built housing $ 1,160,480 $ 1,141,237 Financial services 220,202 212,923 $ 1,380,682 $ 1,354,160

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Disaggregation of Revenue [Line Items]
Net revenue	$ 477,599	$ 475,875
Factory-built housing
Disaggregation of Revenue [Line Items]
Net revenue	458,048	457,109
Factory-built housing | Home sales
Disaggregation of Revenue [Line Items]
Net revenue	436,429	439,744
Factory-built housing | Delivery, setup and other revenues
Disaggregation of Revenue [Line Items]
Net revenue	21,619	17,365
Financial Services
Disaggregation of Revenue [Line Items]
Net revenue	19,551	18,766
Financial Services | Insurance agency commissions received from third-party insurance companies
Disaggregation of Revenue [Line Items]
Net revenue	1,406	899
Financial Services | All other sources
Disaggregation of Revenue [Line Items]
Net revenue	$ 18,145	$ 17,867

Investments - Schedule of Inves

Investments - Schedule of Investments (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Available-for-sale debt securities	$ 20,025	$ 18,669
Marketable equity securities	10,628	11,961
Non-marketable equity investments	4,934	4,956
Investments	35,587	35,586
Less short-term investments	(20,671)	(18,270)
Investments	$ 14,916	$ 17,316

Investments - Amortized Cost an

Investments - Amortized Cost and Fair Value (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 20,375	$ 19,091
Fair Value	20,025	18,669
Residential mortgage-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,849	2,933
Fair Value	4,782	2,865
State and political subdivision debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,103	5,041
Fair Value	5,015	4,930
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	10,423	11,117
Fair Value	$ 10,228	$ 10,874

Investments - Contractual Matur

Investments - Contractual Maturities (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
Amortized Cost
Due in less than one year	$ 7,880
Due after one year through five years	7,421
Due after five years through ten years	225
Due after ten years	0
Mortgage-backed securities	4,849
Amortized Cost	20,375	$ 19,091
Fair Value
Due in less than one year	7,778
Due after one year through five years	7,240
Due after five years through ten years	225
Due after ten years	0
Mortgage-backed securities	4,782
Fair Value	$ 20,025	$ 18,669

Investments - Recognized Gains

Investments - Recognized Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Investments, Debt and Equity Securities [Abstract]
Net (loss) gain recognized during the period	$ (454)	$ 460
Less: Net (gain) recognized on securities sold during the period	(552)	(20)
Unrealized (loss) gain recognized during the period on securities still held	$ (1,006)	$ 440

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
Summary of inventories
Raw materials	$ 75,589	$ 78,241
Work in process	30,089	27,977
Finished goods	139,166	135,121
Total Inventories	$ 244,844	$ 241,339

Consumer Loans Receivable - Sum

Consumer Loans Receivable - Summary of Consumer Loans Receivable (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Construction advances	$ 1,615	$ 722
Consumer loans receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans held for investment, previously securitized	15,989	16,968
Loans held for investment	12,612	12,826
Loans held for sale	22,432	15,140
Construction advances	1,615	722
Loans receivable, gross	52,648	45,656
Deferred financing fees and other, net	(594)	(523)
Allowance for loan losses	(1,016)	(1,066)
Loans receivable, net	51,038	44,067
Less current portion	(28,887)	(20,713)
Loans receivable, net	$ 22,151	$ 23,354

Consumer Loans Receivable - Wei

Consumer Loans Receivable - Weighted Averages (Details) - Consumer loans receivable	3 Months Ended	12 Months Ended
	Jun. 29, 2024	Mar. 30, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted average contractual interest rate	8.10%	8.10%
Weighted average effective interest rate	8.90%	10.40%
Weighted average months to maturity	208 months	196 months

Consumer Loans Receivable - Del

Consumer Loans Receivable - Delinquency Status of Consumer Loans (Details) - Consumer loans receivable - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 29, 2024	Mar. 30, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	$ 52,648	$ 45,656
Current
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	50,756	43,810
31 to 60 days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	547	1,063
61 to 90 days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	446	131
91+ days
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	$ 899	$ 652

Consumer Loans Receivable - Con

Consumer Loans Receivable - Consumer Loan Receivables by Segment and Credit Quality Indicator (Details) - Consumer loans receivable - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans by origination year, one	$ 12,131	$ 16,187
Loans by origination year, two	12,297	328
Loans by origination year, three	327	96
Loans by origination year, four	95	2,105
Loans by origination year, five	1,941	2,799
Prior	25,857	24,141
Loans receivable, gross	52,648	45,656
Prime- FICO score 680 and greater
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans by origination year, one	10,791	14,107
Loans by origination year, two	9,707	328
Loans by origination year, three	327	96
Loans by origination year, four	95	885
Loans by origination year, five	879	1,808
Prior	15,566	14,425
Loans receivable, gross	37,365	31,649
Near Prime- FICO score 620-679
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans by origination year, one	1,128	1,633
Loans by origination year, two	2,144	0
Loans by origination year, three	0	0
Loans by origination year, four	0	1,202
Loans by origination year, five	1,044	942
Prior	9,269	8,684
Loans receivable, gross	13,585	12,461
Sub-Prime- FICO score less than 620
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans by origination year, one	0	0
Loans by origination year, two	0	0
Loans by origination year, three	0	0
Loans by origination year, four	0	18
Loans by origination year, five	18	49
Prior	718	723
Loans receivable, gross	736	790
No FICO score
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans by origination year, one	212	447
Loans by origination year, two	446	0
Loans by origination year, three	0	0
Loans by origination year, four	0	0
Loans by origination year, five	0	0
Prior	304	309
Loans receivable, gross	$ 962	$ 756

Consumer Loans Receivable - Nar

Consumer Loans Receivable - Narrative (Details) - Financing Receivable - Geographic Concentration Risk - Consumer loans receivable	3 Months Ended	12 Months Ended
	Jun. 29, 2024	Mar. 30, 2024
TEXAS
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	49%	46%
FLORIDA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage		10%

Commercial Loans Receivables -

Commercial Loans Receivables - Commercial Loans Notes Receivables, Net (Details) - Commercial Loans Receivable - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loans receivable	$ 96,366	$ 91,938
Allowance for loan losses	(884)	(781)
Deferred financing fees, net	(138)	(116)
Loans receivable, net	95,344	91,041
Less current portion	(42,147)	(43,316)
Loans receivable, net	$ 53,197	$ 47,725

Commercial Loans Receivables _2

Commercial Loans Receivables - Commercial Loans Characteristics (Details) - Commercial Loans Receivable	3 Months Ended	12 Months Ended
	Jun. 29, 2024	Mar. 30, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Weighted average contractual interest rate	7%	7.40%
Weighted average months to maturity	12 months	12 months

Commercial Loans Receivables _3

Commercial Loans Receivables - Narrative (Details) - Commercial Loans Receivable - USD ($)	3 Months Ended	12 Months Ended
	Jun. 29, 2024	Mar. 30, 2024
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing receivable, nonperforming, threshold	90 days
Commercial loans 90 days past due still accruing interest	$ 0
Financing receivable, nonaccrual, threshold period past due	90 days
Financing Receivable | Customer Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	11%	13%
NEW YORK | Financing Receivable | Geographic Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	19%	18%
CALIFORNIA | Financing Receivable | Geographic Concentration Risk
Accounts, Notes, Loans and Financing Receivable [Line Items]
Concentration risk, percentage	14%

Commercial Loans Receivables _4

Commercial Loans Receivables - Commercial Loans Receivables by Credit Quality Indicator and Year of Origination (Details) - Commercial Loans Receivable - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
Financing Receivable Recorded Investment [Line Items]
Loans receivable, gross	$ 96,366	$ 91,938
Performing
Financing Receivable Recorded Investment [Line Items]
Loans by origination year, one	69,499	57,691
Loans by origination year, two	19,089	25,066
Loans by origination year, three	3,761	4,823
Loans by origination year, four	1,925	2,144
Loans by origination year, five	2,092	2,214
Loans receivable, gross	$ 96,366	$ 91,938

Leases - Lease Assets and Liabi

Leases - Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
ROU assets
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Property, Plant and Equipment, Net	Property, Plant and Equipment, Net
Operating lease assets	$ 37,712	$ 39,027
Finance lease assets	5,869	5,913
Total lease assets	$ 43,581	$ 44,940
Current:
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities, Current	Accrued Liabilities, Current
Operating lease liabilities	$ 5,466	$ 5,303
Finance lease liabilities	$ 81	$ 80
Non-current:
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other noncurrent liabilities	Other noncurrent liabilities
Operating lease liabilities	$ 33,873	$ 35,148
Finance lease liabilities	6,066	6,086
Total lease liabilities	45,486	46,617
Finance lease, right-of-use asset, accumulated amortization	$ 500	$ 400

Accrued Expenses and Other Cu_3

Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023	Apr. 01, 2023
Accrued Expenses and Other Current Liabilities
Salaries, wages and benefits	$ 40,823	$ 38,125
Customer deposits	44,994	40,856
Unearned insurance premiums	35,914	33,449
Estimated warranties	31,815	31,718
Accrued volume rebates	24,671	21,167
Insurance loss reserves	18,927	10,540	$ 13,001	$ 10,939
Accrued self-insurance	14,692	14,124
Other	52,738	49,757
Total accrued expenses and other current liabilities	$ 264,574	$ 239,736

Warranties (Details)

Warranties (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Accrual for estimated warranties
Balance at beginning of period	$ 31,718	$ 31,368
Charged to costs and expenses	12,091	13,409
Payments and deductions	(11,994)	(12,376)
Balance at end of period	$ 31,815	$ 32,401

Other Liabilities (Details)

Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
Debt Obligations
Finance lease liabilities	$ 6,147	$ 6,166
Other secured financing	1,849	1,916
Other liabilities	7,996	8,082
Less current portion included in Accrued expenses and other current liabilities	(330)	(323)
Other noncurrent liabilities	$ 7,666	$ 7,759

Debt (Details)

Debt (Details) - Revolving Credit Facility - The Revolving Credit Facility - Line of Credit - USD ($)	Jun. 29, 2024	Mar. 30, 2024
Line of Credit Facility [Line Items]
Current borrowing capacity	$ 50,000,000
Maximum borrowing capacity	100,000,000
Long-term debt	$ 0	$ 0

Reinsurance and Insurance Los_3

Reinsurance and Insurance Loss Reserves - Reinsurance Effect on Premiums Written and Earned (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Written
Direct premiums	$ 13,503	$ 10,379
Assumed premiums—nonaffiliated	11,735	9,800
Ceded premiums—nonaffiliated	(8,185)	(6,127)
Net premiums written	17,053	14,052
Earned
Direct premiums	12,302	8,676
Assumed premiums—nonaffiliated	9,504	8,570
Ceded premiums—nonaffiliated	(8,185)	(6,127)
Net premiums earned	$ 13,621	$ 11,119

Reinsurance and Insurance Los_4

Reinsurance and Insurance Loss Reserves - Narrative (Details) $ in Millions	3 Months Ended
	Jun. 29, 2024 USD ($)
Insurance [Abstract]
Insurance policies maximum coverage per claim	$ 0.4
Insurance policies coverage per claim ceded to reinsurers	0.2
Insurance policy risk of loss maintained per claim	0.2
Catastrophic losses recoverable in excess of amount	4
Aggregate catastrophic losses recoverable in excess of amount	$ 110

Reinsurance and Insurance Los_5

Reinsurance and Insurance Loss Reserves - Loss Reserve Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Liability For Future Policy Benefits And Unpaid Claims And Claims Adjustment Expense [Roll Forward]
Balance at beginning of period	$ 10,540	$ 10,939
Net incurred losses during the period	17,963	11,077
Net claim payments during the period	(9,576)	(9,015)
Balance at end of period	$ 18,927	$ 13,001

Commitments and Contingencies -

Commitments and Contingencies - Narrative (Details) - USD ($) $ in Millions	Jun. 29, 2024	Mar. 30, 2024	Jul. 01, 2023
Commitments and Contingencies Disclosure [Abstract]
Repurchase agreements maximum amount contingently liable	$ 121	$ 121
Reserve for repurchase commitments	3	2.9
Reserves related to consumer loans sold	0.6	$ 0.6
IRLCs recorded at fair value	24.5		$ 31.1
Forward commitments recorded at fair value	$ 4.7		$ 1.1

Commitments and Contingencies_2

Commitments and Contingencies - Loan Contracts with Off-Balance Sheet Commitments (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Construction loan contract amount	$ 3,252	$ 1,960
Cumulative advances	(1,615)	(722)
Remaining construction contingent commitment	$ 1,637	$ 1,238

Stockholders' Equity and Rede_3

Stockholders' Equity and Redeemable Noncontrolling Interest (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, common stock (in shares)	8,320,718
Beginning balance	$ 1,033,411	$ 976,286
Net income	34,429	46,357
Other comprehensive income, net	58	(42)
Net issuance of common stock under stock incentive plans	(2,348)	(1,213)
Stock-based compensation	2,194	1,438
Common stock repurchases	$ (29,204)
Ending balance, common stock (in shares)	8,251,522
Ending balance	$ 1,038,540	1,022,826
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning balance		1,219
Net income		54
Distributions		(120)
Valuation adjustment		(33)
Ending balance		$ 1,120
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, common stock (in shares)	9,389,953	9,337,125
Beginning balance	$ 94	$ 93
Issuance of common stock under stock incentive plans, net (in shares)	11,104	10,095
Ending balance, common stock (in shares)	9,401,057	9,347,220
Ending balance	$ 94	$ 93
Treasury stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(274,693)	(164,452)
Common stock repurchases	(29,204)
Ending balance	(303,897)	(164,452)
Additional paid-in capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	281,216	271,950
Net issuance of common stock under stock incentive plans	(2,348)	(1,213)
Stock-based compensation	2,194	1,438
Ending balance	281,062	272,175
Retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,027,127	869,310
Net income	34,429	46,357
Ending balance	1,061,556	915,667
Accumulated other comprehensive income (loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(333)	(615)
Other comprehensive income, net	58	(42)
Ending balance	$ (275)	$ (657)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 29, 2024	Jul. 01, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income attributable to Cavco common stockholders	$ 34,429	$ 46,357
Weighted average shares outstanding
Basic (in shares)	8,286,476	8,670,434
Effect of dilutive securities (in shares)	85,778	87,646
Diluted (in shares)	8,372,254	8,758,080
Net income per share attributable to Cavco common stockholders
Basic (usd per share)	$ 4.15	$ 5.35
Diluted (usd per share)	$ 4.11	$ 5.29
Stock Options
Net income per share attributable to Cavco common stockholders
Anti-dilutive common stock equivalents excluded (in shares)	257	39

Fair Value Measurements - Summa

Fair Value Measurements - Summary of the Fair Value and Carrying Value of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 29, 2024	Mar. 30, 2024
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Available-for-sale debt securities	$ 20,025	$ 18,669
Marketable equity securities	10,628	11,961
Book Value
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Available-for-sale debt securities	20,025	18,669
Marketable equity securities	10,628	11,961
Non-marketable equity investments	4,934	4,956
Consumer loans receivable	51,038	44,067
Commercial loans receivable	95,344	91,041
Other secured financing	(1,849)	(1,916)
Estimated Fair Value
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Line Items]
Available-for-sale debt securities	20,025	18,669
Marketable equity securities	10,628	11,961
Non-marketable equity investments	4,934	4,956
Consumer loans receivable	55,262	49,105
Commercial loans receivable	80,631	80,764
Other secured financing	$ (1,779)	$ (1,841)

Fair Value Measurements - Assum

Fair Value Measurements - Assumptions for Mortgage Servicing Rights (Details) $ in Thousands	Jun. 29, 2024 USD ($) loan	Mar. 30, 2024 USD ($) loan
Fair Value Disclosures [Abstract]
Number of loans serviced with MSRs | loan	3,782	3,842
Weighted average servicing fee (basis points)	0.3478%	0.3479%
Capitalized servicing multiple	193%	188.59%
Capitalized servicing rate (basis points)	0.6713%	0.6561%
Serviced portfolio with MSRs (in thousands)	$ 473,607	$ 482,898
MSRs (in thousands)	$ 3,179	$ 3,168

Business Segment Information (D

Business Segment Information (Details) $ in Thousands	3 Months Ended
	Jun. 29, 2024 USD ($) segment	Jul. 01, 2023 USD ($)	Mar. 30, 2024 USD ($)
Business Segment Information
Number of operating segments | segment	2
Net revenue	$ 477,599	$ 475,875
Income before income taxes	43,861	60,677
Total assets	1,380,682		$ 1,354,160
Factory-built housing
Business Segment Information
Net revenue	458,048	457,109
Income before income taxes	49,100	61,825
Total assets	1,160,480		1,141,237
Financial services
Business Segment Information
Net revenue	19,551	18,766
Income before income taxes	(5,239)	$ (1,148)
Total assets	$ 220,202		$ 212,923