Seneca Foods (SENEA) 10-Q 9 Nov 23 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Sep. 30, 2023	Oct. 26, 2023
Document Information [Line Items]
Entity Central Index Key	0000088948
Entity Registrant Name	Seneca Foods Corporation
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	0-01989
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	16-0733425
Entity Address, Address Line One	350 WillowBrook Office Park
Entity Address, City or Town	Fairport
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	14450
City Area Code	585
Local Phone Number	495-4100
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Common Class B [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock Class B, $.25 Par
Trading Symbol	SENEB
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		1,676,953
Common Class A [Member]
Document Information [Line Items]
Title of 12(b) Security	Common Stock Class A, $.25 Par
Trading Symbol	SENEA
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding		5,471,117

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023	Oct. 01, 2022
Current assets:
Cash and cash equivalents	$ 12,081	$ 12,256	$ 12,887
Accounts receivable, net of allowance for credit losses of $61, $66 and $34, respectively	128,380	97,101	162,517
Assets held for sale	200	4,358	4,604
Inventories	1,013,447	670,898	814,966
Refundable income taxes	960	6,976	1,367
Other current assets	2,443	2,450	3,542
Total current assets	1,157,511	794,039	999,883
Property, plant and equipment, net	305,856	301,212	283,729
Right-of-use assets operating, net	22,154	23,235	26,481
Right-of-use assets financing, net	26,578	33,571	34,838
Pension assets	58,506	59,304	51,048
Other assets	1,115	1,360	1,993
Total assets	1,571,720	1,212,721	1,397,972
Current liabilities:
Accounts payable	321,579	69,232	345,151
Deferred revenue	14,637	9,956	13,009
Accrued vacation	11,295	11,143	11,887
Accrued payroll	22,446	16,772	22,054
Other accrued expenses	31,277	23,293	31,051
Current portion of long-term debt and lease obligations	31,583	25,792	22,063
Total current liabilities	432,817	156,188	445,215
Long-term debt, less current portion	492,685	432,695	316,345
Operating lease obligations, less current portion	13,995	16,675	16,508
Financing lease obligations, less current portion	14,202	17,293	18,499
Deferred income tax liability, net	31,440	31,481	33,959
Other liabilities	3,356	3,639	4,039
Total liabilities	988,495	657,971	834,565
Commitments and contingencies
Stockholders' equity:
Preferred stock	351	351	612
Common stock, $0.25 par value per share	3,050	3,049	3,043
Additional paid-in capital	99,392	99,152	98,818
Treasury stock, at cost	(188,217)	(168,573)	(165,871)
Accumulated other comprehensive loss	(20,488)	(20,488)	(26,468)
Retained earnings	689,137	641,259	653,273
Total stockholders' equity	583,225	554,750	563,407
Total liabilities and stockholders’ equity	$ 1,571,720	$ 1,212,721	$ 1,397,972

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023	Oct. 01, 2022
Allowance for doubtful accounts	$ 61	$ 34	$ 66
Common Stock, Par Value (in dollars per share)	$ 0.25	$ 0.25	$ 0.25

Condensed Consolidated Statemen

Condensed Consolidated Statements of Net Earnings (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Net sales	$ 407,475	$ 439,842	$ 706,139	$ 705,035
Costs and expenses:
Cost of product sold	349,357	398,063	592,732	640,413
Selling, general and administrative	21,031	20,480	40,880	38,722
Plant restructuring	9	52	149	108
Other operating income, net	(1,346)	(589)	(1,543)	(2,640)
Total costs and expenses	369,051	418,006	632,218	676,603
Operating income	38,424	21,836	73,921	28,432
Other income and expenses:
Other non-operating income	(1,338)	(1,527)	(2,675)	(3,053)
Interest expense, net	7,185	2,370	13,758	3,760
Earnings before income taxes	32,577	20,993	62,838	27,725
Income taxes	7,798	4,862	14,948	6,491
Net earnings	$ 24,779	$ 16,131	$ 47,890	$ 21,234
Earnings per share:
Basic (in dollars per share)	$ 3.32	$ 2.05	$ 6.36	$ 2.64
Diluted (in dollars per share)	$ 3.29	$ 2.03	$ 6.3	$ 2.62
Weighted average common shares outstanding:
Basic (in shares)	7,445	7,836	7,521	7,995
Diluted (in shares)	7,515	7,906	7,591	8,065

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Comprehensive income:
Net earnings	$ 24,779	$ 16,131	$ 47,890	$ 21,234
Total	$ 24,779	$ 16,131	$ 47,890	$ 21,234

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023	Oct. 01, 2022
Cash flows from operating activities:
Net earnings	$ 47,890	$ 21,234
Adjustments to reconcile net earnings to net cash from operating activities:
Depreciation and amortization	21,769	19,844
Gain on the sale of assets	(1,785)	(2,167)
Deferred income taxes	(41)	943
Changes in operating assets and liabilities:
Accounts receivable	(31,279)	(42,848)
Inventories	(342,549)	(410,971)
Other current assets	7	1,651
Income taxes	6,016	4,079
Accounts payable	252,347	257,549
Accrued expenses and other	21,346	17,065
Net cash used in operating activities	(26,279)	(133,621)
Cash flows from investing activities:
Additions to property, plant and equipment	(26,452)	(33,871)
Proceeds from the sale of assets	7,566	4,045
Net cash used in investing activities	(18,886)	(29,826)
Cash flows from financing activities:
Long-term borrowing	551,313	499,956
Payments on long-term debt	(482,107)	(293,235)
Payments on financing leases	(4,560)	(4,287)
Purchase of treasury stock	(19,644)	(36,992)
Dividends	(12)	(12)
Net cash provided by financing activities	44,990	165,430
Net (decrease) increase in cash and cash equivalents	(175)	1,983
Cash and cash equivalents, beginning of the period	12,256	10,904
Cash and cash equivalents, end of the period	12,081	12,887
Supplemental disclosures of cash flow information:
Right-of-use assets obtained in exchange for lease obligations	4,136	5,166
Right-of-use assets derecognized upon early lease termination	2,298	2,564
Property, plant and equipment purchased on account	934	517
Sale of property, plant and equipment in exchange for note receivable	$ 0	$ 750

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Cumulative Preferred Stock [Member]	Cumulative Convertible Preferred Stock [Member]	Participating Convertible Preferred Stock [Member]	Common Class A [Member]	Common Class B [Member]	Retained Earnings [Member]	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Treasury Stock, Common [Member]	AOCI Attributable to Parent [Member]	Total
Balances at Mar. 31, 2022						$ 632,051	$ 644	$ 3,041	$ 98,641	$ (128,879)	$ (26,468)
Net earnings						5,103	0	0	0	0	0
Cash dividends declared on preferred stock						(12)	0	0	0	0	0
Issue stock for bonus program						0	0	1	76	0	0
Equity incentive program						0	0	0	33	0	0
Purchase treasury stock						0	0	0	0	(15,923)	0
Balances at Jul. 02, 2022						637,142	644	3,042	98,750	(144,802)	(26,468)
Net earnings						5,103	0	0	0	0	0
Balances at Mar. 31, 2022						632,051	644	3,041	98,641	(128,879)	(26,468)
Net earnings												$ 21,234
Purchase treasury stock				$ (37,000)
Balances at Oct. 01, 2022						653,273	612	3,043	98,818	(165,871)	(26,468)	563,407
Net earnings												21,234
Balances at Jul. 02, 2022						637,142	644	3,042	98,750	(144,802)	(26,468)
Net earnings						16,131	0	0	0	0	0	16,131
Equity incentive program						0	0	0	37	0	0
Purchase treasury stock						0	0	0	0	(21,069)	0
Balances at Oct. 01, 2022						653,273	612	3,043	98,818	(165,871)	(26,468)	563,407
Net earnings						16,131	0	0	0	0	0	16,131
Preferred stock conversion						0	(32)	1	31	0	0
Balances at Mar. 31, 2023						641,259	351	3,049	99,152	(168,573)	(20,488)	554,750
Net earnings						23,111	0	0	0	0	0
Cash dividends declared on preferred stock						(12)	0	0	0	0	0
Issue stock for bonus program						0	0	0	72	0	0
Equity incentive program						0	0	0	80	0	0
Purchase treasury stock						0	0	0	0	(2,177)	0
Balances at Jul. 01, 2023						664,358	351	3,049	99,304	(170,750)	(20,488)
Net earnings						23,111	0	0	0	0	0
Balances at Mar. 31, 2023						641,259	351	3,049	99,152	(168,573)	(20,488)	554,750
Net earnings												47,890
Purchase treasury stock				$ (19,600)								(188,200)
Balances at Sep. 30, 2023						689,137	351	3,050	99,392	(188,217)	(20,488)	583,225
Net earnings												47,890
Balances at Jul. 01, 2023						664,358	351	3,049	99,304	(170,750)	(20,488)
Net earnings						24,779	0	0	0	0	0	24,779
Equity incentive program						0	0	1	88	0	0
Purchase treasury stock						0	0	0	0	(17,467)	0
Balances at Sep. 30, 2023						689,137	351	3,050	99,392	(188,217)	(20,488)	583,225
Net earnings						$ 24,779	$ 0	$ 0	$ 0	$ 0	$ 0	$ 24,779
Preferred stock, shares authorized (in shares)	200,000	1,400,000	8,292	20,000,000	10,000,000
Preferred stock, shares outstanding (in shares)	200,000	807,240	8,292
Common stock, shares outstanding (in shares)				5,555,666	1,699,753

Note 1 - Basis of Preparation a

Note 1 - Basis of Preparation and Presentation	6 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Significant Accounting Policies [Text Block]	1. Basis of Preparation and Presentation Seneca Foods Corporation (the “Company”) is a leading provider of packaged fruits and vegetables with 26 facilities in eight 60 The accompanying unaudited condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. The unaudited condensed consolidated financial statements included herein have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) applicable to interim financial statements. While these statements reflect all adjustments (consisting of items of a normal recurring nature) that are, in the opinion of management, necessary for a fair presentation of the results of the interim period, they do not 10 No. 1 March 31, 2023. Due to the seasonal nature of the business, quarterly operating results and cash flows are not may March 31 may not The preparation of financial statements in accordance with U.S. GAAP requires management to make certain estimates and assumptions. Such estimates and assumptions affect the reported amounts of assets and liabilities as well as disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements, and the reported amounts of revenue and expenses during the reporting period. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors that management believes to be reasonable under the circumstances, including the current economic environment. The Company adjusts such estimates and assumptions when facts and circumstances dictate. Actual results could differ materially from those estimates. The Company uses the same accounting policies in preparing quarterly and annual financial statements. A summary of significant accounting policies followed by the Company are set forth in Note 1 10 No. 1 March 31, 2023. Reclassifications—Certain previously reported amounts have been reclassified to conform to the current period classification, notably that plant restructuring is shown as a separate line item in the statements of net earnings and was previously condensed. Additionally, on the statements of cash flows, the change in accounts payable is presented separately from accrued expenses and other after previously being condensed into the same line item within net cash used in operating activities. There was no six October 1, 2022 March 31, 2022 10 No. 1 July 31, 2023. New Accounting Pronouncements and Policies Effective April 1, 2022, 2016 13, Financial Instruments - Credit Losses (Topic 326 November 2018 No. 2018 19, Codification Improvements to Topic 326, Credit Losses 2016 13” may 2016 13 not In March 2020, 2020 04, Reference Rate Reform (Topic 848 2020 04” 2020 04 December 2022, 2022 06, Reference Rate Reform (Topic 848 848 848 December 31, 2022 December 31, 2024. 7, September 14, 2022, 7, 2020 04 not

Note 2 - Revenue Recognition

Note 2 - Revenue Recognition	6 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	2. Revenue Recognition Revenue recognition is completed for most customers at a point in time when product control is transferred to the customer. In general, control transfers to the customer when the product is shipped or delivered to the customer based upon applicable shipping terms, as the customer can direct the use and obtain substantially all of the remaining benefits from the asset at this point in time. The Company does sell certain finished goods inventory for cash on a bill and hold basis. The terms of the bill and hold agreement provide that title to the specified inventory is transferred to the customer prior to shipment and the Company has the right to payment (prior to physical delivery) which results in recorded revenue as determined under the revenue recognition standard. In the following table, revenue is disaggregated by product category groups (in thousands): Three Months Ended Six Months Ended September 30, October 1, September 30, October 1, 2023 2022 2023 2022 Canned vegetables $ 328,586 $ 364,749 $ 579,536 $ 583,084 Frozen vegetables 43,046 40,095 64,585 59,806 Fruit products 22,801 23,971 39,539 42,303 Snack products 4,256 3,695 7,354 6,675 Other 8,786 7,332 15,125 13,167 $ 407,475 $ 439,842 $ 706,139 $ 705,035 As a result of certain contracts with customers, the Company has contract asset balances of $0.5 million, $0.5 million, and $0.6 million as of September 30, 2023, October 1, 2022, March 31, 2023,

Note 3 - Earnings Per Common Sh

Note 3 - Earnings Per Common Share	6 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Earnings Per Share [Text Block]	3. Earnings per Common Share Earnings per share for the three six September 30, 2023 October 1, 2022 Three Months Ended Six Months Ended September 30, October 1, September 30, October 1, 2023 2022 2023 2022 Basic Net earnings $ 24,779 $ 16,131 $ 47,890 $ 21,234 Deduct preferred stock dividends paid 6 6 12 12 Undistributed net earnings 24,773 16,125 47,878 21,222 Earnings attributable to participating preferred 28 65 53 85 Earnings attributable to common shareholders $ 24,745 $ 16,060 $ 47,825 $ 21,137 Weighted average common shares outstanding 7,445 7,836 7,521 7,995 Basic earnings per common share $ 3.32 $ 2.05 $ 6.36 $ 2.64 Diluted Earnings attributable to common shareholders $ 24,745 $ 16,060 $ 47,825 $ 21,137 Add dividends on convertible preferred stock 5 5 10 10 Earnings attributable to common stock on a diluted basis $ 24,750 $ 16,065 $ 47,835 $ 21,147 Weighted average common shares outstanding-basic 7,445 7,836 7,521 7,995 Additional shares issued related to the equity compensation plan 3 3 3 3 Additional shares to be issued under full conversion of preferred stock 67 67 67 67 Total shares for diluted 7,515 7,906 7,591 8,065 Diluted earnings per common share $ 3.29 $ 2.03 $ 6.30 $ 2.62

Note 4 - Inventories

Note 4 - Inventories	6 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Inventory Disclosure [Text Block]	4. Inventories The Company uses the last-in, first As of September 30, 2023, October 1, 2022, March 31, 2023, first first three September 30, 2023 October 1, 2022, six September 30, 2023 October 1, 2022, The following table shows inventory by category and the related LIFO reserve (in thousands): As of: September 30, October 1, March 31, 2023 2022 2023 Finished products $ 988,307 $ 805,500 613,622 In process 87,463 47,050 75,123 Raw materials and supplies 247,733 181,680 284,593 1,323,503 1,034,230 973,338 Less excess of FIFO cost over LIFO cost 310,056 219,264 302,440 Total inventories $ 1,013,447 $ 814,966 $ 670,898

Note 5 - Property, Plant and Eq

Note 5 - Property, Plant and Equipment	6 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	5. Property, Plant and Equipment Property, plant and equipment is comprised of the following (in thousands): As of: September 30, October 1, March 31, 2023 2022 2023 Land and land improvements $ 48,385 $ 43,686 $ 46,978 Buildings and improvements 231,736 204,767 214,110 Machinery and equipment 440,206 421,015 421,067 Office furniture, vehicles and computer software 13,149 10,326 11,738 Construction in progress 23,575 40,688 40,539 Property, plant and equipment, cost 757,051 720,482 734,432 Less: accumulated depreciation (451,195 ) (436,753 ) (433,220 ) Property, plant and equipment, net $ 305,856 $ 283,729 $ 301,212 Depreciation expense totaled $9.3 million and $8.3 million for the three September 30, 2023 October 1, 2022, six September 30, 2023 October 1, 2022,

Note 6 - Assets Held For Sale

Note 6 - Assets Held For Sale	6 Months Ended
	Sep. 30, 2023
Disposal Group, Held-for-Sale, Not Discontinued Operations [Member]
Notes to Financial Statements
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	6. Assets Held for Sale The Company classifies its assets as held for sale at the time management commits to a plan to sell the asset, the asset is actively marketed and available for immediate sale, and the sale is expected to be completed within one may one As of: September 30, October 1, March 31, 2023 2022 2023 Property, plant and equipment, net $ 200 $ 4,604 $ 4,358 Current assets held for sale $ 200 $ 4,604 $ 4,358 The decrease in assets held for sale during the six September 30, 2023

Note 7 - Long-term Debt

Note 7 - Long-term Debt	6 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Long-Term Debt [Text Block]	7. Long-Term Debt Long-term debt is comprised of the following (in thousands): As of September 30, October 1, March 31, 2023 2022 2023 Revolving credit facility $ 134,757 $ 229,213 $ 180,598 Term loans Term Loan A-1 Outstanding principal 87,000 91,000 89,000 Unamortized debt issuance costs (53 ) (84 ) (68 ) Term Loan A-1, net 86,947 90,916 88,932 Term Loan A-2 Outstanding principal 291,000 - 173,500 Unamortized debt issuance costs (1,019 ) - (551 ) Term Loan A-2, net 289,981 - 172,949 Other 216 216 216 Total long-term debt 511,901 320,345 442,695 Less current portion 19,216 4,000 10,000 Long-term debt, less current portion $ 492,685 $ 316,345 $ 432,695 Revolving Credit Facility On March 24, 2021, April July August March. March 24, 2026 Seasonal working capital needs are affected by the growing cycles of the vegetables the Company packages. The majority of vegetable inventories are produced during the months of June November three seven may On September 14, 2022, not No The following table illustrates certain quantitative data for Revolver borrowings during fiscal year 2024 2023 As of: September 30, October 1, March 31, 2023 2022 2023 Outstanding borrowings $ 134,757 $ 229,213 $ 180,598 Weighted average interest rate 6.93 % 4.16 % 6.34 % Three Months Ended: Six Months Ended: September 30, October 1, September 30, October 1, 2023 2022 2023 2022 Maximum amount of borrowings $ 134,757 $ 229,213 $ 180,785 $ 229,213 Average outstanding borrowings $ 75,955 $ 128,650 $ 92,218 $ 77,277 Weighted average interest rate 6.95 % 3.66 % 6.67 % 3.42 % Term Loans On May 28, 2020, June 1, 2025 2021. On January 20, 2023, two Term Loan A- 1: 1 June 1, 2025 Term Loan A- 2: January 20, 2028 2 2 March 1, 2023. On May 23, 2023, 1 2 2 one 2” 2 2 June 1, 2023. 1 The Amendment contains restrictive covenants usual and customary for loans of its type, in addition to financial covenants including minimum EBITDA and minimum tangible net worth. In connection with Amended Term Loan A- 2,

Note 8 - Leases

Note 8 - Leases	6 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Lessee, Operating and Finance Leases [Text Block]	8. Leases The Company determines whether an arrangement is a lease at inception of the agreement. Presently, the Company leases land, machinery and equipment under various operating and financing leases. Right-of-Use (“ROU”) assets represent the Company’s right to use the underlying assets for the lease term, and lease obligations represent the net present value of the Company’s obligation to make payments arising from these leases. ROU assets and lease obligations are recognized at commencement date based on the present value of lease payments over the lease term using the implicit lease interest rate or, when unknown, an incremental borrowing rate based on the information available at commencement date or April 1, 2019 Lease terms may not may 12 not ROU assets and lease obligations for the Company’s operating and financing leases are disclosed separately in the Company’s condensed consolidated balance sheets. The components of lease cost were as follows (in thousands): Three Months Ended Six Months Ended September 30, October 1, September 30, October 1, 2023 2022 2023 2022 Lease cost: Amortization of ROU assets $ 1,644 $ 1,668 $ 3,484 $ 3,257 Interest on lease liabilities 199 242 422 481 Finance lease cost 1,843 1,910 3,906 3,738 Operating lease cost 1,809 3,657 4,158 7,884 Total lease cost $ 3,652 $ 5,567 $ 8,064 $ 11,622 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 422 $ 481 Operating cash flows from operating leases 6,976 10,404 Financing cash flows from finance leases 4,560 4,287 $ 11,958 $ 15,172 ROU assets obtained in exchange for new finance lease liabilities $ 73 $ 3,298 ROU assets obtained in exchange for new operating lease liabilities $ 4,063 $ 1,868 Weighted-average lease term (years): Financing leases 4.5 4.6 Operating leases 4.7 4.5 Weighted-average discount rate (percentage): Financing leases 3.9 % 3.5 % Operating leases 4.7 % 4.2 % Undiscounted future lease payments under non-cancelable operating and financing leases, along with a reconciliation of undiscounted cash flows to operating and financing lease obligations, respectively, as of September 30, 2023 Years ending March 31: Operating Financing Balance of 2024 $ 1,701 $ 3,765 2025 6,447 5,301 2026 4,652 4,210 2027 3,520 3,152 2028 3,269 2,774 2029-2034 2,969 2,964 Total minimum payment required $ 22,558 $ 22,166 Less interest 2,277 1,883 Present value of minimum lease payments 20,281 20,283 Amount due within one year 6,286 6,081 Long-term lease obligations $ 13,995 $ 14,202

Note 9 - Income Taxes

Note 9 - Income Taxes	6 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Income Tax Disclosure [Text Block]	9. Income Taxes The Company’s effective tax rate was 23.8% and 23.4% for the six September 30, 2023 October 1, 2022, six 2024,

Note 10 - Retirement Plans

Note 10 - Retirement Plans	6 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Retirement Benefits [Text Block]	10. Retirement Plans The net periodic benefit cost for the Company’s pension plan consisted of (in thousands): Three Months Ended Six Months Ended September 30, October 1, September 30, October 1, 2023 2022 2023 2022 Service cost including administration $ 1,737 $ 2,435 $ 3,473 $ 4,870 Interest cost 2,818 2,374 5,636 4,748 Expected return on plan assets (4,175 ) (4,026 ) (8,349 ) (8,051 ) Amortization of prior service cost 19 23 38 46 Amortization of net loss - 103 - 205 Net periodic benefit cost $ 399 $ 909 $ 798 $ 1,818 There were no pension contributions made during the six September 30, 2023 October 1, 2022.

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity	6 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Equity [Text Block]	11. Stockholders Equity During the six September 30, 2023, six October 1, 2022, not six September 30, 2023, not

Note 12 - Fair Value of Financi

Note 12 - Fair Value of Financial Instruments	6 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Fair Value Disclosures [Text Block]	12. Fair Value of Financial Instruments Cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses are reflected in the condensed consolidated balance sheets at carrying value, which approximates fair value due to the short-term maturity of these instruments. On a quarterly basis, the Company estimates the fair values for financial instruments that are recorded at carrying value on the condensed consolidated balance sheets. The estimated fair value for long-term debt (classified as Level 2 As of: September 30, October 1, March 31, 2023 2022 2023 Carrying value $ 511,901 $ 320,345 $ 442,695 Fair value $ 504,262 $ 312,336 $ 436,293

Note 13 - Other Operating Incom

Note 13 - Other Operating Income and Expense	6 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Other Operating Income and Expense [Text Block]	13. Other Operating Income and Expense The Company had net other operating income of $1.3 million and $1.5 million during the three six September 30, 2023, three October 1, 2022, six October 1, 2022,

Note 14 - Restructuring

Note 14 - Restructuring	6 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Restructuring and Related Activities Disclosure [Text Block]	14. Restructuring The following table summarizes the rollforward of restructuring charges recorded and the accruals established (in thousands): Restructuring Payable Severance Other Costs Total Balance March 31, 2023 $ 117 $ - $ 117 First quarter charge (42 ) 182 140 Second quarter charge - 9 9 Cash payments/write-offs (75 ) (191 ) (266 ) Balance September 30, 2023 $ - $ - $ - Severance Other Costs Total Balance March 31, 2022 $ - $ - $ - First quarter charge - 56 56 Second quarter charge - 52 52 Cash payments/write-offs - (108 ) (108 ) Balance October 1, 2022 $ - $ - $ - During the three six September 30, 2023, three six October 1, 2022,

Note 15 - Legal Proceedings and

Note 15 - Legal Proceedings and Other Contingencies	6 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Legal Matters and Contingencies [Text Block]	15. Legal Proceedings and Other Contingencies In the ordinary course of its business, the Company is made a party to certain legal proceedings seeking monetary damages, including proceedings involving product liability claims, workers’ compensation along with other employee claims, tort and other general liability claims, for which it carries insurance, as well as patent infringement and related litigation. The Company is in a highly regulated industry and is also periodically involved in government actions for regulatory violations and other matters surrounding the manufacturing of its products, including, but not not not

Note 16 - Subsequent Event

Note 16 - Subsequent Event	6 Months Ended
	Sep. 30, 2023
Notes to Financial Statements
Subsequent Events [Text Block]	16. Subsequent Event On November 8, 2023, Green Giant Green Giant March 31, 2024.

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Sep. 30, 2023
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	5. (c) Trading Plans During the quarterly period ended September 30, 2023, no 16 10b5 1 10b5 1 408
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements and Policies Effective April 1, 2022, 2016 13, Financial Instruments - Credit Losses (Topic 326 November 2018 No. 2018 19, Codification Improvements to Topic 326, Credit Losses 2016 13” may 2016 13 not In March 2020, 2020 04, Reference Rate Reform (Topic 848 2020 04” 2020 04 December 2022, 2022 06, Reference Rate Reform (Topic 848 848 848 December 31, 2022 December 31, 2024. 7, September 14, 2022, 7, 2020 04 not

Note 2 - Revenue Recognition (T

Note 2 - Revenue Recognition (Tables)	6 Months Ended
	Sep. 30, 2023
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended Six Months Ended September 30, October 1, September 30, October 1, 2023 2022 2023 2022 Canned vegetables $ 328,586 $ 364,749 $ 579,536 $ 583,084 Frozen vegetables 43,046 40,095 64,585 59,806 Fruit products 22,801 23,971 39,539 42,303 Snack products 4,256 3,695 7,354 6,675 Other 8,786 7,332 15,125 13,167 $ 407,475 $ 439,842 $ 706,139 $ 705,035

Note 3 - Earnings Per Common _2

Note 3 - Earnings Per Common Share (Tables)	6 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended September 30, October 1, September 30, October 1, 2023 2022 2023 2022 Basic Net earnings $ 24,779 $ 16,131 $ 47,890 $ 21,234 Deduct preferred stock dividends paid 6 6 12 12 Undistributed net earnings 24,773 16,125 47,878 21,222 Earnings attributable to participating preferred 28 65 53 85 Earnings attributable to common shareholders $ 24,745 $ 16,060 $ 47,825 $ 21,137 Weighted average common shares outstanding 7,445 7,836 7,521 7,995 Basic earnings per common share $ 3.32 $ 2.05 $ 6.36 $ 2.64 Diluted Earnings attributable to common shareholders $ 24,745 $ 16,060 $ 47,825 $ 21,137 Add dividends on convertible preferred stock 5 5 10 10 Earnings attributable to common stock on a diluted basis $ 24,750 $ 16,065 $ 47,835 $ 21,147 Weighted average common shares outstanding-basic 7,445 7,836 7,521 7,995 Additional shares issued related to the equity compensation plan 3 3 3 3 Additional shares to be issued under full conversion of preferred stock 67 67 67 67 Total shares for diluted 7,515 7,906 7,591 8,065 Diluted earnings per common share $ 3.29 $ 2.03 $ 6.30 $ 2.62

Note 4 - Inventories (Tables)

Note 4 - Inventories (Tables)	6 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Inventory, Current [Table Text Block]	As of: September 30, October 1, March 31, 2023 2022 2023 Finished products $ 988,307 $ 805,500 613,622 In process 87,463 47,050 75,123 Raw materials and supplies 247,733 181,680 284,593 1,323,503 1,034,230 973,338 Less excess of FIFO cost over LIFO cost 310,056 219,264 302,440 Total inventories $ 1,013,447 $ 814,966 $ 670,898

Note 5 - Property, Plant and _2

Note 5 - Property, Plant and Equipment (Tables)	6 Months Ended
	Sep. 30, 2023
Notes Tables
Property, Plant and Equipment [Table Text Block]	As of: September 30, October 1, March 31, 2023 2022 2023 Land and land improvements $ 48,385 $ 43,686 $ 46,978 Buildings and improvements 231,736 204,767 214,110 Machinery and equipment 440,206 421,015 421,067 Office furniture, vehicles and computer software 13,149 10,326 11,738 Construction in progress 23,575 40,688 40,539 Property, plant and equipment, cost 757,051 720,482 734,432 Less: accumulated depreciation (451,195 ) (436,753 ) (433,220 ) Property, plant and equipment, net $ 305,856 $ 283,729 $ 301,212

Note 6 - Assets Held For Sale (

Note 6 - Assets Held For Sale (Tables)	6 Months Ended
	Sep. 30, 2023
Disposal Group, Held-for-Sale, Not Discontinued Operations [Member]
Notes Tables
Disposal Groups, Including Discontinued Operations [Table Text Block]	As of: September 30, October 1, March 31, 2023 2022 2023 Property, plant and equipment, net $ 200 $ 4,604 $ 4,358 Current assets held for sale $ 200 $ 4,604 $ 4,358

Note 7 - Long-term Debt (Tables

Note 7 - Long-term Debt (Tables)	6 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Long-Term Debt Instruments [Table Text Block]	As of September 30, October 1, March 31, 2023 2022 2023 Revolving credit facility $ 134,757 $ 229,213 $ 180,598 Term loans Term Loan A-1 Outstanding principal 87,000 91,000 89,000 Unamortized debt issuance costs (53 ) (84 ) (68 ) Term Loan A-1, net 86,947 90,916 88,932 Term Loan A-2 Outstanding principal 291,000 - 173,500 Unamortized debt issuance costs (1,019 ) - (551 ) Term Loan A-2, net 289,981 - 172,949 Other 216 216 216 Total long-term debt 511,901 320,345 442,695 Less current portion 19,216 4,000 10,000 Long-term debt, less current portion $ 492,685 $ 316,345 $ 432,695
Schedule of Line of Credit Facilities [Table Text Block]	As of: September 30, October 1, March 31, 2023 2022 2023 Outstanding borrowings $ 134,757 $ 229,213 $ 180,598 Weighted average interest rate 6.93 % 4.16 % 6.34 % Three Months Ended: Six Months Ended: September 30, October 1, September 30, October 1, 2023 2022 2023 2022 Maximum amount of borrowings $ 134,757 $ 229,213 $ 180,785 $ 229,213 Average outstanding borrowings $ 75,955 $ 128,650 $ 92,218 $ 77,277 Weighted average interest rate 6.95 % 3.66 % 6.67 % 3.42 %

Note 8 - Leases (Tables)

Note 8 - Leases (Tables)	6 Months Ended
	Sep. 30, 2023
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended Six Months Ended September 30, October 1, September 30, October 1, 2023 2022 2023 2022 Lease cost: Amortization of ROU assets $ 1,644 $ 1,668 $ 3,484 $ 3,257 Interest on lease liabilities 199 242 422 481 Finance lease cost 1,843 1,910 3,906 3,738 Operating lease cost 1,809 3,657 4,158 7,884 Total lease cost $ 3,652 $ 5,567 $ 8,064 $ 11,622 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 422 $ 481 Operating cash flows from operating leases 6,976 10,404 Financing cash flows from finance leases 4,560 4,287 $ 11,958 $ 15,172 ROU assets obtained in exchange for new finance lease liabilities $ 73 $ 3,298 ROU assets obtained in exchange for new operating lease liabilities $ 4,063 $ 1,868 Weighted-average lease term (years): Financing leases 4.5 4.6 Operating leases 4.7 4.5 Weighted-average discount rate (percentage): Financing leases 3.9 % 3.5 % Operating leases 4.7 % 4.2 %
Lessee, Lease Liability, Maturity [Table Text Block]	Years ending March 31: Operating Financing Balance of 2024 $ 1,701 $ 3,765 2025 6,447 5,301 2026 4,652 4,210 2027 3,520 3,152 2028 3,269 2,774 2029-2034 2,969 2,964 Total minimum payment required $ 22,558 $ 22,166 Less interest 2,277 1,883 Present value of minimum lease payments 20,281 20,283 Amount due within one year 6,286 6,081 Long-term lease obligations $ 13,995 $ 14,202

Note 10 - Retirement Plans (Tab

Note 10 - Retirement Plans (Tables)	6 Months Ended
	Sep. 30, 2023
Notes Tables
Schedule of Defined Benefit Plans Disclosures [Table Text Block]	Three Months Ended Six Months Ended September 30, October 1, September 30, October 1, 2023 2022 2023 2022 Service cost including administration $ 1,737 $ 2,435 $ 3,473 $ 4,870 Interest cost 2,818 2,374 5,636 4,748 Expected return on plan assets (4,175 ) (4,026 ) (8,349 ) (8,051 ) Amortization of prior service cost 19 23 38 46 Amortization of net loss - 103 - 205 Net periodic benefit cost $ 399 $ 909 $ 798 $ 1,818

Note 12 - Fair Value of Finan_2

Note 12 - Fair Value of Financial Instruments (Tables)	6 Months Ended
	Sep. 30, 2023
Notes Tables
Fair Value, by Balance Sheet Grouping [Table Text Block]	As of: September 30, October 1, March 31, 2023 2022 2023 Carrying value $ 511,901 $ 320,345 $ 442,695 Fair value $ 504,262 $ 312,336 $ 436,293

Note 14 - Restructuring (Tables

Note 14 - Restructuring (Tables)	6 Months Ended
	Sep. 30, 2023
Notes Tables
Restructuring and Related Costs [Table Text Block]	Restructuring Payable Severance Other Costs Total Balance March 31, 2023 $ 117 $ - $ 117 First quarter charge (42 ) 182 140 Second quarter charge - 9 9 Cash payments/write-offs (75 ) (191 ) (266 ) Balance September 30, 2023 $ - $ - $ - Severance Other Costs Total Balance March 31, 2022 $ - $ - $ - First quarter charge - 56 56 Second quarter charge - 52 52 Cash payments/write-offs - (108 ) (108 ) Balance October 1, 2022 $ - $ - $ -

Note 1 - Basis of Preparation_2

Note 1 - Basis of Preparation and Presentation (Details Textual)	Sep. 30, 2023
Number of States in which Entity Operates	8
Seneca Food Plants [Member]
Number of Real Estate Properties	26

Note 2 - Revenue Recognition (D

Note 2 - Revenue Recognition (Details Textual) - USD ($) $ in Millions	Sep. 30, 2023	Mar. 31, 2023	Oct. 01, 2022
Contract with Customer, Asset, after Allowance for Credit Loss, Current	$ 0.5	$ 0.6	$ 0.5

Note 2 - Revenue Recognition -

Note 2 - Revenue Recognition - Segment Revenue Disaggregated by Product Category Groups (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Net sales	$ 407,475	$ 439,842	$ 706,139	$ 705,035
Canned Vegetables [Member]
Net sales	328,586	364,749	579,536	583,084
Frozen [Member]
Net sales	43,046	40,095	64,585	59,806
Fruit [Member]
Net sales	22,801	23,971	39,539	42,303
Snack [Member]
Net sales	4,256	3,695	7,354	6,675
Manufactured Product, Other [Member]
Net sales	$ 8,786	$ 7,332	$ 15,125	$ 13,167

Note 3 - Earnings Per Common _3

Note 3 - Earnings Per Common Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Net earnings	$ 24,779	$ 16,131	$ 47,890	$ 21,234
Deduct preferred stock dividends paid	6	6	12	12
Undistributed net earnings	24,773	16,125	47,878	21,222
Earnings attributable to participating preferred	28	65	53	85
Earnings attributable to common shareholders	$ 24,745	$ 16,060	$ 47,825	$ 21,137
Weighted average common shares outstanding (in shares)	7,445	7,836	7,521	7,995
Basic earnings per common share (in dollars per share)	$ 3.32	$ 2.05	$ 6.36	$ 2.64
Earnings attributable to common shareholders	$ 24,745	$ 16,060	$ 47,825	$ 21,137
Add dividends on convertible preferred stock	5	5	10	10
Earnings attributable to common stock on a diluted basis	$ 24,750	$ 16,065	$ 47,835	$ 21,147
Additional shares issued related to the equity compensation plan (in shares)	3	3	3	3
Additional shares to be issued under full conversion of preferred stock (in shares)	67	67	67	67
Total shares for diluted (in shares)	7,515	7,906	7,591	8,065
Diluted earnings per common share (in dollars per share)	$ 3.29	$ 2.03	$ 6.3	$ 2.62

Note 4 - Inventories (Details T

Note 4 - Inventories (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022	Mar. 31, 2023
Inventory, LIFO Reserve	$ 310,056	$ 219,264	$ 310,056	$ 219,264	$ 302,440
Inventory, LIFO Reserve, Period Charge	$ 9,300	$ 29,200	$ 7,600	$ 48,400

Note 4 - Inventories - Inventor

Note 4 - Inventories - Inventories by Category and Impact of Using LIFO Method (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023	Oct. 01, 2022
Finished products	$ 988,307	$ 613,622	$ 805,500
In process	87,463	75,123	47,050
Raw materials and supplies	247,733	284,593	181,680
FIFO Inventory Amount	1,323,503	973,338	1,034,230
Less excess of FIFO cost over LIFO cost	310,056	302,440	219,264
Total inventories	$ 1,013,447	$ 670,898	$ 814,966

Note 5 - Property, Plant and _3

Note 5 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Depreciation	$ 9.3	$ 8.3	$ 18.1	$ 16.4

Note 5 - Property, Plant and _4

Note 5 - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023	Oct. 01, 2022
Property, Plant and Equipment, Gross	$ 757,051	$ 734,432	$ 720,482
Less: accumulated depreciation	(451,195)	(433,220)	(436,753)
Property, plant and equipment, net	305,856	301,212	283,729
Land and Land Improvements [Member]
Property, Plant and Equipment, Gross	48,385	46,978	43,686
Building and Building Improvements [Member]
Property, Plant and Equipment, Gross	231,736	214,110	204,767
Machinery and Equipment [Member]
Property, Plant and Equipment, Gross	440,206	421,067	421,015
Office Furniture, Vehicles and Computer Software [Member]
Property, Plant and Equipment, Gross	13,149	11,738	10,326
Construction in Progress [Member]
Property, Plant and Equipment, Gross	$ 23,575	$ 40,539	$ 40,688

Note 6 - Assets Held For Sale_2

Note 6 - Assets Held For Sale (Details Textual) $ in Millions	6 Months Ended
	Sep. 30, 2023 USD ($)
Disposal Group, Not Discontinued Operation, Loss (Gain) on Write-down	$ 1.6
Proceeds from Sale of Property, Plant, and Equipment	4.4
Gain (Loss) on Disposition of Property Plant Equipment	1.9
Disposal Group, Held-for-Sale, Not Discontinued Operations [Member]
Disposal Group, Not Discontinued Operation, Loss (Gain) on Write-down	$ 2.5

Note 6 - Assets Held For Sale -

Note 6 - Assets Held For Sale - Assets and Liabilities Held For Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023	Oct. 01, 2022
Current assets held for sale	$ 200	$ 4,358	$ 4,604
Disposal Group, Held-for-Sale, Not Discontinued Operations [Member]
Property, plant and equipment, net	200	4,358	4,604
Current assets held for sale	$ 200	$ 4,358	$ 4,604

Note 7 - Long-term Debt (Detail

Note 7 - Long-term Debt (Details Textual) - USD ($) $ in Thousands			3 Months Ended	12 Months Ended
	May 23, 2023	Jan. 20, 2023	Jul. 01, 2023	Mar. 31, 2022	Sep. 30, 2023	Mar. 31, 2023	Oct. 01, 2022	Jul. 31, 2021	Mar. 24, 2021	May 28, 2020
Accounts Receivable, Vegetable and Fruit Products Sold, Standard Payment Term (Month)				3 months
Accounts Receivable, Vegetable and Fruit Products Sold, Maximum Payment Term (Month)				7 months
Long-Term Debt					$ 511,901	$ 442,695	$ 320,345
Term Loan A-1 [Member]
Debt Instrument, Interest Rate, Stated Percentage		3.3012%
Debt Instrument, Periodic Payment, Principal		$ 1,000	$ 1,000
Long-Term Debt		$ 100,000			86,947	88,932	90,916
Debt Instrument, Maturity Date		Jun. 01, 2025
Term Loan A-2 [Member]
Debt Instrument, Periodic Payment, Principal		$ 1,500
Long-Term Debt	$ 173,500	$ 175,000			$ 289,981	$ 172,949	$ 0
Debt Instrument, Maturity Date		Jan. 20, 2028
Second Amended and Restated Loan and Guaranty Agreement Amendment One with Farm Credit East, ACA [Member]
Debt Instrument, Face Amount	125,000
Amended Term Loan A-2 [Member]
Debt Instrument, Periodic Payment, Principal	3,750
Long-Term Debt	$ 298,500
Debt Instrument, Unamortized Discount			$ 1,100
Term Loan Payable to Farm Credit East ACA [Member]
Debt Instrument, Face Amount										$ 100,000
Debt Instrument, Interest Rate, Stated Percentage			3.3012%
Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity During Nonproduction Period								$ 300,000	$ 400,000
Line of Credit Facility, Maximum Borrowing Capacity During Production Period				$ 400,000

Note 7 - Long-term Debt - Summa

Note 7 - Long-term Debt - Summary of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	May 23, 2023	Mar. 31, 2023	Jan. 20, 2023	Oct. 01, 2022
Long-term debt	$ 511,901		$ 442,695		$ 320,345
Long-term debt	511,901		442,695		320,345
Total long-term debt	511,901		442,695		320,345
Less current portion	19,216		10,000		4,000
Long-term debt, less current portion	492,685		432,695		316,345
Line of Credit [Member]
Long-term debt	134,757		180,598		229,213
Long-term debt	134,757		180,598		229,213
Term Loan A-1 [Member]
Long-term debt	86,947		88,932	$ 100,000	90,916
Outstanding principal	87,000		89,000		91,000
Unamortized debt issuance costs	(53)		(68)		(84)
Long-term debt	86,947		88,932	100,000	90,916
Term Loan A-2 [Member]
Long-term debt	289,981	$ 173,500	172,949	175,000	0
Outstanding principal	291,000		173,500		0
Unamortized debt issuance costs	(1,019)		(551)		0
Long-term debt	289,981	$ 173,500	172,949	$ 175,000	0
Other [Member]
Long-term debt	216		216		216
Long-term debt	$ 216		$ 216		$ 216

Note 7 - Long-term Debt - Revol

Note 7 - Long-term Debt - Revolving Line of Credit Summary (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022	Mar. 31, 2023
Outstanding borrowings	$ 134,757	$ 229,213	$ 134,757	$ 229,213	$ 180,598
Weighted average interest rate	6.93%	4.16%	6.93%	4.16%	6.34%
Maximum amount of borrowings	$ 134,757	$ 229,213	$ 180,785	$ 229,213
Average outstanding borrowings	$ 75,955	$ 128,650	$ 92,218	$ 77,277
Weighted average interest rate	6.95%	3.66%	6.67%	3.42%

Note 8 - Leases - Lease Expense

Note 8 - Leases - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Amortization of ROU assets	$ 1,644	$ 1,668	$ 3,484	$ 3,257
Interest on lease liabilities	199	242	422	481
Finance lease cost	1,843	1,910	3,906	3,738
Operating lease cost	1,809	3,657	4,158	7,884
Total lease cost	$ 3,652	$ 5,567	8,064	11,622
Operating cash flows from finance leases			422	481
Operating cash flows from operating leases			6,976	10,404
Financing cash flows from finance leases			4,560	4,287
Payments for Amounts Included in the Measurement of Lease Liabilities, Total			11,958	15,172
ROU assets obtained in exchange for new finance lease liabilities			73	3,298
ROU assets obtained in exchange for new operating lease liabilities			$ 4,063	$ 1,868
Financing leases (Year)	4 years 6 months	4 years 7 months 6 days	4 years 6 months	4 years 7 months 6 days
Operating leases, lease term (Year)	4 years 8 months 12 days	4 years 6 months	4 years 8 months 12 days	4 years 6 months
Financing leases	3.90%	3.50%	3.90%	3.50%
Operating leases, discount rate	4.70%	4.20%	4.70%	4.20%

Note 8 - Leases - Undiscounted

Note 8 - Leases - Undiscounted Future Lease Payments Under Operating Leases and Financial Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023	Oct. 01, 2022
Balance of 2024, operating	$ 1,701
Balance of 2024, financing	3,765
2025, operating	6,447
2025, financing	5,301
2026, operating	4,652
2026, financing	4,210
2027, operating	3,520
2027, financing	3,152
2028, operating	3,269
2028, financing	2,774
2029-2034, operating	2,969
2029-2034, financing	2,964
Total minimum payment required, operating	22,558
Total minimum payment required, financing	22,166
Less interest, operating	2,277
Less interest, financing	1,883
Present value of minimum lease payments, operating	20,281
Present value of minimum lease payments, financing	20,283
Long-term lease obligations, operating	13,995	$ 16,675	$ 16,508
Long-term lease obligations, financing	14,202	$ 17,293	$ 18,499
Current Portion of Long-term Debt and Lease Obligations [Member]
Amount due within one year, operating	6,286
Amount due within one year, financing	$ 6,081

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual)	6 Months Ended
	Sep. 30, 2023	Oct. 01, 2022
Effective Income Tax Rate Reconciliation, Percent	23.80%	23.40%
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	1%
State and Local Jurisdiction [Member]
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Percent	(0.60%)

Note 10 - Retirement Plans (Det

Note 10 - Retirement Plans (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023	Oct. 01, 2022
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 0	$ 0

Note 10 - Retirement Plans - Ne

Note 10 - Retirement Plans - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Service cost including administration	$ 1,737	$ 2,435	$ 3,473	$ 4,870
Interest cost	2,818	2,374	5,636	4,748
Expected return on plan assets	(4,175)	(4,026)	(8,349)	(8,051)
Amortization of prior service cost	19	23	38	46
Amortization of net loss	0	103	0	205
Net periodic benefit cost	$ 399	$ 909	$ 798	$ 1,818

Note 11 - Stockholders' Equity

Note 11 - Stockholders' Equity (Details Textual) - USD ($) $ in Millions	6 Months Ended
	Sep. 30, 2023	Oct. 01, 2022
Treasury Stock, Shares, Acquired (in shares)	4,952,923
Treasury Stock, Value, Acquired, Cost Method	$ 188.2
Common Class A [Member]
Treasury Stock, Shares, Acquired (in shares)	386,681	689,926
Treasury Stock, Value, Acquired, Cost Method	$ 19.6	$ 37
Common Class B [Member]
Treasury Stock, Shares, Acquired (in shares)	0	0

Note 12 - Fair Value of Finan_3

Note 12 - Fair Value of Financial Instrument - Fair Value and Carrying Value of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Mar. 31, 2023	Oct. 01, 2022
Carrying value	$ 511,901	$ 442,695	$ 320,345
Fair value	$ 504,262	$ 436,293	$ 312,336

Note 13 - Other Operating Inc_2

Note 13 - Other Operating Income and Expense (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Sep. 30, 2023	Oct. 01, 2022	Sep. 30, 2023	Oct. 01, 2022
Other Operating Income (Expense), Net	$ 1,346	$ 589	$ 1,543	$ 2,640

Note 14 - Restructuring - Restr

Note 14 - Restructuring - Restructuring Reserve (Details) - USD ($) $ in Thousands	6 Months Ended
	Sep. 30, 2023	Oct. 01, 2022
Balance	$ 117	$ 0
Cash payments/write-offs	(266)	(108)
Balance	0	0
First Quarter [Member]
Charge to expense	140	56
Second Quarter [Member]
Charge to expense	9	52
Employee Severance [Member]
Balance	117	0
Cash payments/write-offs	(75)	0
Balance	0	0
Employee Severance [Member] | First Quarter [Member]
Charge to expense	(42)	0
Employee Severance [Member] | Second Quarter [Member]
Charge to expense	0	0
Other Restructuring [Member]
Balance	0	0
Cash payments/write-offs	(191)	(108)
Balance	0	0
Other Restructuring [Member] | First Quarter [Member]
Charge to expense	182	56
Other Restructuring [Member] | Second Quarter [Member]
Charge to expense	$ 9	$ 52

Note 16 - Subsequent Event (Det

Note 16 - Subsequent Event (Details Textual) $ in Millions	Nov. 08, 2023 USD ($)
B&G Foods, Inc [Member] | Subsequent Event [Member]
Asset Acquisition, Price of Acquisition, Expected	$ 55.6