Skyline Champion (SKY) 10-Q 2 Nov 22 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Oct. 01, 2022	Oct. 26, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 01, 2022
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Registrant Name	Skyline Champion Corporation
Entity Central Index Key	0000090896
Current Fiscal Year End Date	--04-02
Entity Current Reporting Status	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		56,924,528
Entity File Number	001-04714
Entity Tax Identification Number	35-1038277
Entity Address, Address Line One	755 West Big Beaver Road
Entity Address, Address Line Two	Suite 1000
Entity Address, City or Town	Troy
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48084
City Area Code	248
Local Phone Number	614-8211
Title of 12(b) Security	Common Stock
Trading Symbol	SKY
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	IN
Entity Interactive Data Current	Yes
Document Transition Report	false
Document Quarterly Report	true

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 01, 2022	Apr. 02, 2022
Current assets:
Cash and cash equivalents	$ 677,004	$ 435,413
Trade accounts receivable, net	82,662	90,536
Inventories, net	240,451	241,334
Other current assets	26,220	14,977
Total current assets	1,026,337	782,260
Long-term assets:
Property, plant, and equipment, net	156,971	132,985
Goodwill	196,574	191,970
Amortizable intangible assets, net	51,262	51,283
Deferred tax assets	14,696	17,750
Other noncurrent assets	61,778	58,371
Total assets	1,507,618	1,234,619
Current liabilities:
Floor plan payable	38,487	35,460
Accounts payable	70,981	92,159
Other current liabilities	253,103	222,493
Total current liabilities	362,571	350,112
Long-term liabilities:
Long-term debt	12,430	12,430
Deferred tax liabilities	5,424	5,124
Other liabilities	41,450	41,840
Total long-term liabilities	59,304	59,394
Stockholders' Equity:
Common stock, $0.0277 par value, 115,000 shares authorized, 56,925 and 56,838 shares issued as of October 1, 2022 and April 2, 2022, respectively	1,580	1,573
Additional paid-in capital	511,250	502,846
Retained earnings	587,720	327,902
Accumulated other comprehensive loss	(14,807)	(7,208)
Total stockholders' equity	1,085,743	825,113
Total liabilities and stockholders' equity	$ 1,507,618	$ 1,234,619

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 01, 2022	Apr. 02, 2022
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.0277	$ 0.0277
Common stock, shares authorized	115,000,000	115,000,000
Common stock, shares issued	56,925,000	56,838,000

Condensed Consolidated Income S

Condensed Consolidated Income Statements - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Income Statement [Abstract]
Net sales	$ 806,825	$ 524,225	$ 1,532,706	$ 1,034,422
Cost of sales	532,719	394,898	1,029,265	793,565
Gross profit	274,106	129,327	503,441	240,857
Selling, general, and administrative expenses	83,915	61,340	156,197	115,363
Operating income	190,191	67,987	347,244	125,494
Interest (income) expense, net	(1,974)	845	(1,884)	1,494
Other expense (income)	0	11	(634)	(43)
Income before income taxes	192,165	67,131	349,762	124,043
Income tax expense	48,073	16,408	88,519	30,419
Net income	$ 144,092	$ 50,723	$ 261,243	$ 93,624
Net income per share:
Basic	$ 2.53	$ 0.89	$ 4.59	$ 1.65
Diluted	$ 2.51	$ 0.89	$ 4.55	$ 1.64

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 144,092	$ 50,723	$ 261,243	$ 93,624
Other comprehensive income (loss):
Foreign currency translation adjustments	(5,295)	(1,520)	(7,599)	(642)
Total comprehensive income	$ 138,797	$ 49,203	$ 253,644	$ 92,982

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021
Cash flows from operating activities
Net income	$ 261,243	$ 93,624
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	7,836	6,521
Amortization of intangible assets	4,721	3,762
Amortization of deferred financing fees	175	509
Equity-based compensation	7,753	4,213
Deferred taxes	3,318	6,421
Gain (loss) on disposal of property, plant, and equipment	(85)	686
Foreign currency transaction loss	974	35
Change in assets and liabilities:
Accounts receivable	7,633	(15,351)
Inventories	11,540	(14,138)
Prepaids and other assets	(14,489)	(17,934)
Accounts payable	(21,000)	407
Accrued expenses and other liabilities	8,947	20,132
Net cash provided by operating activities	278,566	88,887
Cash flows from investing activities
Additions to property, plant, and equipment	(25,613)	(15,105)
Acquisitions, net of cash acquired	(6,810)	(207)
Proceeds from disposal of property, plant, and equipment	132	66
Net cash used in investing activities	(32,291)	(15,246)
Cash flows from financing activities
Changes in floor plan financing, net	3,027	5,107
Payments on deferred financing fees	0	(1,130)
Payments on revolving debt facility	0	(26,900)
Stock option exercises	596	377
Tax payments for equity-based compensation	(1,363)	(3,007)
Net cash provided by (used in) financing activities	2,260	(25,553)
Effect of exchange rate changes on cash and cash equivalents	(6,944)	(411)
Net increase in cash and cash equivalents	241,591	47,677
Cash and cash equivalents at beginning of period	435,413	262,581
Cash and cash equivalents at end of period	$ 677,004	$ 310,258

Consolidated Statement of Equit

Consolidated Statement of Equity - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning balance at Apr. 03, 2021	$ 568,611	$ 1,569	$ 491,668	$ 82,898	$ (7,524)
Beginning balance, shares at Apr. 03, 2021		56,640,000
Net income	93,624			93,624
Equity-based compensation	4,213		4,213
Net common stock issued under equity-based compensation plans	(2,828)	$ 3	178	(3,009)
Net common stock issued under equity-based compensation plans, shares		156,000
Foreign currency translation adjustments	(642)				(642)
Ending balance at Oct. 02, 2021	662,978	$ 1,572	496,059	173,513	(8,166)
Ending balance, shares at Oct. 02, 2021		56,796,000
Beginning balance at Jul. 03, 2021	612,583	$ 1,571	493,191	124,467	(6,646)
Beginning balance, shares at Jul. 03, 2021		56,699,000
Net income	50,723			50,723
Equity-based compensation	2,772		2,772
Net common stock issued under equity-based compensation plans	(1,580)	$ 1	96	(1,677)
Net common stock issued under equity-based compensation plans, shares		97,000
Foreign currency translation adjustments	(1,520)				(1,520)
Ending balance at Oct. 02, 2021	662,978	$ 1,572	496,059	173,513	(8,166)
Ending balance, shares at Oct. 02, 2021		56,796,000
Beginning balance at Apr. 02, 2022	825,113	$ 1,573	502,846	327,902	(7,208)
Beginning balance, shares at Apr. 02, 2022		56,838,000
Net income	261,243			261,243
Equity-based compensation	7,753		7,753
Net common stock issued under equity-based compensation plans	(767)	$ 7	651	(1,425)
Net common stock issued under equity-based compensation plans, shares		87,000
Foreign currency translation adjustments	(7,599)				(7,599)
Ending balance at Oct. 01, 2022	1,085,743	$ 1,580	511,250	587,720	(14,807)
Ending balance, shares at Oct. 01, 2022		56,925,000
Beginning balance at Jul. 02, 2022	943,578	$ 1,573	506,815	444,702	(9,512)
Beginning balance, shares at Jul. 02, 2022		56,848,000
Net income	144,092			144,092
Equity-based compensation	3,793		3,793
Net common stock issued under equity-based compensation plans	(425)	$ 7	642	(1,074)
Net common stock issued under equity-based compensation plans, shares		77,000
Foreign currency translation adjustments	(5,295)				(5,295)
Ending balance at Oct. 01, 2022	$ 1,085,743	$ 1,580	$ 511,250	$ 587,720	$ (14,807)
Ending balance, shares at Oct. 01, 2022		56,925,000

Basis of Presentation and Busin

Basis of Presentation and Business	6 Months Ended
	Oct. 01, 2022
Accounting Policies [Abstract]
Basis of Presentation and Business	1. Basis of Presentation and Business Nature of Operations: Skyline Champion Corporation's (the “Company”) operations consist of manufacturing, retail and transportation activities. At October 1, 2022, the Company operated 37 manufacturing facilities throughout the United States (“U.S.”) and five manufacturing facilities in western Canada that primarily construct factory-built, timber-framed manufactured and modular houses that are sold primarily to independent retailers, builders/developers, and manufactured home community operators. In addition to its core home building business, the Company provides construction services to install and set-up factory-built homes. The Company’s retail operations consist of 31 sales centers that sell manufactured houses to consumers across the U.S. The Company’s transportation business engages independent owners/drivers to transport recreational vehicles throughout the U.S. and Canada and manufactured houses in certain regions of the U.S. The Company also has a holding company located in the Netherlands. Basis of Presentation: The accompanying unaudited condensed consolidated financial statements of the Company 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 United States Generally Accepted Accounting Principles (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries after elimination of intercompany balances and transactions. In the opinion of management, these statements include all normal recurring adjustments necessary to fairly state the Company’s consolidated results of operations, cash flows, and financial position. The Company has evaluated subsequent events after the balance sheet date through the date of the filing of this report with the SEC. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes to the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K, which was filed with the SEC on May 24, 2022 (the “Fiscal 2022 Annual Report”). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and the accompanying notes thereto. Actual results could differ from those estimates. The condensed consolidated income statements, condensed consolidated statements of comprehensive income, and condensed consolidated statements of cash flows for the interim periods are not necessarily indicative of the results of operations or cash flows for the full year. The Company’s fiscal year is a 52- or 53-week period that ends on the Saturday nearest to March 31. The Company’s current fiscal year, “fiscal 2023,” will end on April 1, 2023 and will include 52 weeks. References to “fiscal 2022” refer to the Company’s fiscal year ended April 2, 2022. The three and six months ended October 1, 2022 and October 2, 2021 included 13 and 26 weeks, respectively. The Company’s allowance for credit losses on financial assets measured at amortized cost reflects management’s estimate of credit losses over the remaining expected life of such assets, measured primarily using historical experience, as well as current economic conditions and forecasts that affect the collectability of the reported amount. Expected credit losses for newly recognized financial assets, as well as changes to expected credit losses during the period, are recognized in earnings. Accounts receivable are reflected net of reserves of $ 1.6 million and $ 1.7 million at October 1, 2022 and April 2, 2022, respectively. At both October 1, 2022 and April 2, 2022, other notes receivable are reflected net of reserves of $ 0.4 million. In May 2022, the Company acquired certain operating assets from Manis Custom Builders, Inc. ("Manis"). In July 2022, the Company acquired 12 retail sales centers from Alta Cima Corporation. The purchase price and net assets acquired for both transactions were not material to the accompanying condensed consolidated financial statements. There were no accounting standards recently issued that are expected to have a material impact on the Company’s financial position or results of operations.

Inventories, Net

Inventories, Net	6 Months Ended
	Oct. 01, 2022
Inventory Disclosure [Abstract]
Inventories, Net	2. Inventories, net The components of inventory, net of reserves for obsolete inventory, were as follows: (Dollars in thousands) October 1, April 2, Raw materials $ 123,921 $ 141,238 Work in process 27,755 26,523 Finished goods and other 88,775 73,573 Total inventories, net $ 240,451 $ 241,334 At October 1, 2022 and April 2, 2022 , reserves for obsolete inventory were $ 6.5 million and $ 4.8 million, respectively.

Property, Plant, and Equipment

Property, Plant, and Equipment	6 Months Ended
	Oct. 01, 2022
Property, Plant and Equipment [Abstract]
Property, Plant, and Equipment	3. Property, Plant, and Equipment Property, plant, and equipment are stated at cost. Depreciation is calculated primarily on a straight-line basis, generally over the following estimated useful lives: land improvements – 3 to 10 years; buildings and improvements – 8 to 25 years ; and vehicles and machinery and equipment – 3 to 8 years . Depreciation expense for the three months ended October 1, 2022 and October 2, 2021 was $ 4.2 milli on and $ 3.3 million, respectively. Depreciation expense for the six months ended October 1, 2022 and October 2, 2021 was $ 7.8 milli on and $ 6.5 million, respectively. The components of property, plant, and equipment were as follows: (Dollars in thousands) October 1, April 2, Land and improvements $ 41,308 $ 39,815 Buildings and improvements 113,798 104,085 Machinery and equipment 77,399 69,518 Construction in progress 21,677 10,280 Property, plant, and equipment, at cost 254,182 223,698 Less: accumulated depreciation ( 97,211 ) ( 90,713 ) Property, plant, and equipment, net $ 156,971 $ 132,985

Goodwill, Intangible Assets, an

Goodwill, Intangible Assets, and Cloud Computing Arrangements	6 Months Ended
	Oct. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Intangible Assets, and Cloud Computing Arrangements	4. Goodwill, Intangible Assets, and Cloud Computing Arrangements Goodwill Goodwill represents the excess of the cost of an acquired business over the fair value of the identifiable tangible and intangible assets acquired and liabilities assumed in a business combination. At October 1, 2022 and April 2, 2022, the Company had goodwill of $ 196.6 million and $ 192.0 million, respectively. Intangible Assets The components of amortizable intangible assets were as follows: (Dollars in thousands) October 1, 2022 April 2, 2022 Customer Trade Total Customer Trade Total Gross carrying amount $ 65,949 $ 21,470 $ 87,419 $ 61,986 $ 21,419 $ 83,405 Accumulated amortization ( 27,071 ) ( 9,086 ) ( 36,157 ) ( 23,819 ) ( 8,303 ) $ ( 32,122 ) Amortizable intangibles, net $ 38,878 $ 12,384 $ 51,262 $ 38,167 $ 13,116 $ 51,283 During the three months ended October 1, 2022 and October 2, 2021 , amortization of intangible assets was $ 2.8 million and $ 1.9 million, respectively. During the six months ended October 1, 2022 and October 2, 2021 , amortization of intangible assets was $ 4.7 million and $ 3.8 million, respectively. Cloud Computing Arrangements The Company capitalizes costs associated with the development of cloud computing arrangements in a manner consistent with internally developed technology. At October 1, 2022 and April 2, 2022, the Company had capitalized cloud computing costs of $ 24.8 million and $ 20.5 million, respectively. Cloud computing costs are included in other noncurrent assets in the accompanying condensed consolidated balance sheets. Amortization of capitalized cloud computing costs for the three and six months ended October 1, 2022 wa s $ 0.2 million and $ 0.4 million, respectively. There was no amortization of capitalized cloud computing costs during the three and six months ended October 2, 2021 .

Other Current Liabilities

Other Current Liabilities	6 Months Ended
	Oct. 01, 2022
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	5. Other Current Liabilities The components of other current liabilities were as follows: (Dollars in thousands) October 1, April 2, Customer deposits $ 84,481 $ 67,396 Accrued volume rebates 30,096 23,505 Accrued warranty obligations 28,729 25,806 Accrued compensation and payroll taxes 50,384 64,888 Accrued insurance 18,069 13,569 Accrued income taxes 20,407 6,959 Other 20,937 20,370 Total other current liabilities $ 253,103 $ 222,493

Accrued Warranty Obligations

Accrued Warranty Obligations	6 Months Ended
	Oct. 01, 2022
Guarantees and Product Warranties [Abstract]
Accrued Warranty Obligations	Accrued Warranty Obligations Changes in the accrued warranty obligations were as follows: Three months ended Six months ended (Dollars in thousands) October 1, October 2, October 1, October 2, Balance at beginning of period $ 33,155 $ 31,079 $ 32,832 $ 30,469 Warranty expense 15,839 10,880 27,760 21,184 Cash warranty payments ( 13,239 ) ( 10,104 ) ( 24,837 ) ( 19,798 ) Balance at end of period 35,755 31,855 35,755 31,855 Less: noncurrent portion in other long-term liabilities ( 7,026 ) ( 6,436 ) ( 7,026 ) ( 6,436 ) Total current portion $ 28,729 $ 25,419 $ 28,729 $ 25,419

Debt and Floor Plan Payable

Debt and Floor Plan Payable	6 Months Ended
	Oct. 01, 2022
Debt Disclosure [Abstract]
Debt and Floor Plan Payable	7. Debt and Floor Plan Payable Long-term debt consisted of the following: (Dollars in thousands) October 1, April 2, Obligations under industrial revenue bonds due 2029 $ 12,430 $ 12,430 Revolving credit facility maturing in 2026 — — Total long-term debt $ 12,430 $ 12,430 On July 7, 2021, the Company entered into an Amended and Restated Credit Agreement with a syndicate of banks that provides for a revolving credit facility of up to $ 200.0 million, including a $ 45.0 million letter of credit sub-facility ("Amended Credit Agreement"). The Amended Credit Agreement replaced the Company's previously existing $ 100.0 million revolving credit facility. Outstanding borrowings of $ 26.9 million on the Company's previous revolving credit facility were repaid in July 2021. The Amended Credit Agreement allows the Company to draw down, repay and re-draw loans on the available facility during the term, subject to certain terms and conditions, matures in July 2026 , and has no scheduled amortization. The Company capitalized $ 1.1 million of deferred financing fees associated with the Amended Credit Agreement, which are included in other noncurrent assets on the accompanying consolidated balance sheets. The Company wrote off $ 0.3 million of deferred financing fees associated with the previously existing credit facility during the second quarter of fiscal 2022. The interest rate on borrowings under the Amended Credit Agreement adjusts based on the consolidated total net leverage of the Company from a high of the London Inter-Bank Offered Rate (" LIBOR") or the Secured Overnight Financing Rate plus the benchmark replacement adjustment ("Replacement Rate") plus 1.875 % and Alternative Base Rate (" ABR") plus 0.875 %, at the election of the Company, when the consolidated total net leverage ratio is equal to or greater than 2.25 :1.00, to a low of LIBOR or the Replacement Rate plus 1.125 % and ABR plus 0.125 % when the consolidated total net leverage is below 0.50:1.00. In addition, the Company is obligated to pay an unused line fee ranging between 0.15 % and 0.3 % (depending on the consolidated total net leverage ratio) in respect of unused commitments under the Amended Credit Agreement. There were no outstanding borrowings under the revo lving credit facility at October 1, 2022 and April, 2, 2022, respectively. At October 1, 2022 the interest rate under the Amended Credit Agreement was 4.28% and letters of credit issued under the Amended Credit Agreement totaled $ 32.1 million. Available borrowing capacity under the Amended Credit Agreement as of October 1, 2022 was $ 167.9 million. Obligations under industrial revenue bonds are supported by letters of credit and bear interest based on a municipal bond index rate. The weighted-average interest rate at October 1, 2022, including related costs and fees, was 4.17 %. T he industrial revenue bonds require lump-sum payments of principal upon maturity in 2029 . The Amended Credit Agreement contains covenants that restrict the amount of additional debt, liens and certain payments, including equity buybacks, investments, dispositions, mergers and consolidations, among other restrictions as defined. The Company was in compliance with all covenants of the Amended Credit Agreement as of October 1, 2022. Floor Plan Payable The Company’s retail operations utilize floor plan financing to fund the purchase of manufactured homes for display or resale. At October 1, 2022 and April 2, 2022, the Company had outstanding borrowings on floor plan financing agreements of $ 38.5 million and $ 35.5 million, respectively. Total credit line capacity provided under the agreements wa s $6 7.0 million as of October 1, 2022 . Borrowings are secured by the homes and are required to be repaid when the Company sells the home to a customer.

Revenue Recognition

Revenue Recognition	6 Months Ended
	Oct. 01, 2022
Revenue from Contract with Customer [Abstract]
Revenue Recognition	8. Revenue Recognition The following tables disaggregate the Company’s revenue by sales category: Three months ended October 1, 2022 (Dollars in thousands) U.S. Canadian Corporate/ Total Manufacturing and retail $ 754,148 $ 39,198 $ — $ 793,346 Commercial 89 — — 89 Transportation — — 13,390 13,390 Total $ 754,237 $ 39,198 $ 13,390 $ 806,825 Six months ended October 1, 2022 (Dollars in thousands) U.S. Canadian Corporate/ Total Manufacturing and retail $ 1,414,959 $ 84,260 $ — $ 1,499,219 Commercial 359 — — 359 Transportation — — 33,128 33,128 Total $ 1,415,318 $ 84,260 $ 33,128 $ 1,532,706 Three months ended October 2, 2021 (Dollars in thousands) U.S. Canadian Corporate/ Total Manufacturing and retail $ 469,127 $ 38,501 $ — $ 507,628 Commercial 2,572 — — 2,572 Transportation — — 14,025 14,025 Total $ 471,699 $ 38,501 $ 14,025 $ 524,225 Six months ended October 2, 2021 (Dollars in thousands) U.S. Canadian Corporate/ Total Manufacturing and retail $ 925,018 $ 76,332 $ — $ 1,001,350 Commercial 4,001 — — 4,001 Transportation — — 29,071 29,071 Total $ 929,019 $ 76,332 $ 29,071 $ 1,034,422

Income Taxes

Income Taxes	6 Months Ended
	Oct. 01, 2022
Income Tax Disclosure [Abstract]
Income Taxes	9. Income Taxes For the three months ended October 1, 2022 and October 2, 2021, the Company recorded $ 48.1 million and $ 16.4 million of income tax expense and had an effective tax rate of 25.0 % and 24.4 % , respectively. For the six months ended October 1, 2022 and October 2, 2021, the Company recorded $ 88.5 million and $ 30.4 million of income tax expense and had an effective tax rate of 25.3 % and 24.5 % , respectively. The Company’s effective tax rate for the three and six months ended October 1, 2022 differs from the federal statutory income tax rate of 21.0 % due primarily to the effect of state and local income taxes, non-deductible expenses, tax credits, and results in foreign jurisdictions. The Company’s effective tax rate for the three and six months ended October 2, 2021 differs from the federal statutory income tax rate of 21.0 % due primarily to the effect of state and local income taxes, non-deductible expenses, tax credits, results in foreign jurisdictions and tax benefits from vested equity compensation. At October 1, 2022 , the Company had no unrecognized tax benefits. The Company does not anticipate any material changes to uncertain tax benefits in the next 12 months. The Company records interest and penalties related to unrecognized tax benefits as a component of income tax expense.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Oct. 01, 2022
Earnings Per Share [Abstract]
Earnings Per Share	10. Earnings Per Share Basic net income per share (“EPS”) attributable to the Company was computed by dividing net income attributable to the Company by the average number of common shares outstanding during the period. Diluted earnings per share is calculated using our weighted-average outstanding common shares including the dilutive effect of stock awards as determined under the treasury stock method. The following table sets forth the computation of basic and diluted earnings per common share: Three months ended Six months ended (Dollars and shares in thousands, except per share data) October 1, October 2, October 1, October 2, Numerator: Net income attributable to the Company's common shareholders $ 144,092 $ 50,723 $ 261,243 $ 93,624 Denominator: Basic weighted-average shares outstanding 56,956 56,808 56,933 56,757 Dilutive securities 450 400 431 455 Diluted weighted-average shares outstanding 57,406 57,208 57,364 57,212 Basic net income per share $ 2.53 $ 0.89 $ 4.59 $ 1.65 Diluted net income per share $ 2.51 $ 0.89 $ 4.55 $ 1.64

Segment Information

Segment Information	6 Months Ended
	Oct. 01, 2022
Segment Reporting [Abstract]
Segment Information	11. Segment Information Financial results for the Company's reportable segments have been prepared using a management approach, which is consistent with the basis and manner in which financial information is evaluated by the Company's chief operating decision maker in allocating resources and in assessing performance. The Company’s chief operating decision maker, the Chief Executive Officer, evaluates the performance of the Company’s segments primarily based on net sales, earnings before interest, taxes, depreciation, and amortization (“EBITDA”) and operating assets. The Company operates in two reportable segments: (i) U.S. Factory-built Housing, which includes manufacturing and retail housing operations and (ii) Canadian Factory-built Housing. Corporate/Other includes the Company’s transportation operations, corporate costs incurred for all segments and intersegment eliminations. Segments are generally determined by geography. Segment data includes intersegment revenues and corporate office costs that are directly and exclusively incurred for each segment. Total assets for Corporate/Other primarily includes cash and U.S. deferred tax items not specifically allocated to another segment. Selected financial information by reportable segment was as follows: Three months ended Six months ended (Dollars in thousands) October 1, October 2, October 1, October 2, Net sales: U.S. Factory-built Housing $ 754,237 $ 471,699 $ 1,415,318 $ 929,019 Canadian Factory-built Housing 39,198 38,501 84,260 76,332 Corporate/Other 13,390 14,025 33,128 29,071 Consolidated net sales $ 806,825 $ 524,225 $ 1,532,706 $ 1,034,422 Operating income: U.S. Factory-built Housing EBITDA $ 199,284 $ 78,075 $ 360,849 $ 141,092 Canadian Factory-built Housing EBITDA 10,141 6,390 21,468 12,056 Corporate/Other EBITDA ( 12,293 ) ( 11,351 ) ( 21,882 ) ( 17,328 ) Other expense (income) — 11 ( 634 ) ( 43 ) Depreciation ( 4,166 ) ( 3,264 ) ( 7,836 ) ( 6,521 ) Amortization ( 2,775 ) ( 1,874 ) ( 4,721 ) ( 3,762 ) Consolidated operating income $ 190,191 $ 67,987 $ 347,244 $ 125,494 Depreciation: U.S. Factory-built Housing $ 3,505 $ 2,619 $ 6,542 $ 5,229 Canadian Factory-built Housing 345 273 626 558 Corporate/Other 316 372 668 734 Consolidated depreciation $ 4,166 $ 3,264 $ 7,836 $ 6,521 Amortization of U.S. Factory-built Housing intangible assets: $ 2,775 $ 1,874 $ 4,721 $ 3,762 Capital expenditures: U.S. Factory-built Housing $ 14,778 $ 5,269 $ 23,711 $ 12,527 Canadian Factory-built Housing 1,068 236 1,429 341 Corporate/Other 332 379 473 2,237 Consolidated capital expenditures $ 16,178 $ 5,884 $ 25,613 $ 15,105 (Dollars in thousands) October 1, April 2, Total Assets: U.S. Factory-built Housing (1) $ 724,859 $ 695,500 Canadian Factory-built Housing (1) 115,188 107,459 Corporate/Other (1) 667,571 431,660 Consolidated total assets $ 1,507,618 $ 1,234,619 (1) Deferred tax assets for the Canadian operations are reflected in the Canadian Factory-built Housing segment. U.S. deferred tax assets are presented in Corporate/Other because an allocation between segments is not practicable.

Commitments, Contingencies and

Commitments, Contingencies and Legal Proceedings	6 Months Ended
	Oct. 01, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Legal Proceedings	12. Commitments, Contingencies and Legal Proceedings Repurchase Contingencies and Guarantees The Company is contingently liable under terms of repurchase agreements with lending institutions that provide wholesale floor plan financing to retailers. These arrangements, which are customary in the manufactured housing industry, provide for the repurchase of products sold to retailers in the event of default by the retailer on its agreement to pay the financial institution. The risk of loss from these agreements is significantly reduced by the potential resale value of any products that are subject to repurchase and is spread over numerous retailers. The repurchase price is generally determined by the original sales price of the product less contractually defined curtailment payments. Based on these repurchase agreements and our historical loss experience, we establish an associated loss reserve which was $ 2.6 million and $ 2.3 million at October 1, 2022 and April 2, 2022, respectively. Excluding the resale value of the homes, the contingent repurchase obligation as of October 1, 2022 was estimated to b e $ 395.6 million. Losses incurred on homes repurchased were not significant during the three and six months ended October 1, 2022 or October 2, 2021. At October 1, 2022 , the Company was contingently obligated for $ 32.1 million under letters of credit, primarily consisting of $ 12.6 million to support long-term debt, $ 19.2 million to support the casualty insurance program, and $ 0.3 million to support bonding agreements. The letters of credit are issued from a sub-facility of the Amended Credit Agreement. The Company was also contingently obligated for $ 30.4 million under surety bonds, generally to support performance on long-term construction contracts and license and service bonding requirements. The Company has received claims for damage related to water intrusion in homes built in one of its manufacturing facilities. The Company is investigating the cause of the damage and assessing its responsibility to remediate. While it is reasonably possible that the Company will receive future claims that could result in additional costs to repair that could be significant in the aggregate, the Company is unable to estimate the number of such claims or the amount or range of any potential losses associated with such claims at this time. In the normal course of business, the Company’s former subsidiaries that operated in the United Kingdom historically provided certain guarantees to two customers. Those guarantees provide contractual liability for proven construction defects up to 12 years from the date of delivery of certain products. The guarantees remain a contingent liability of the Company which declines over time through October 2027. As of the date of this report, the Company expects few, if any, claims to be reported under the terms of the guarantees. Legal Proceedings The Company has agreed to indemnify counterparties in the ordinary course of its business in agreements to acquire and sell business assets and in financing arrangements. The Company is subject to various legal proceedings and claims that arise in the ordinary course of its business. As of the date of this filing, the Company believes the ultimate liability with respect to these contingent obligations will not have, either individually or in the aggregate, a material adverse effect on the Company’s financial condition, results of operations, or cash flows.

Basis of Presentation and Bus_2

Basis of Presentation and Business (Policies)	3 Months Ended
	Oct. 01, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation: The accompanying unaudited condensed consolidated financial statements of the Company 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 United States Generally Accepted Accounting Principles (“U.S. GAAP”) have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated financial statements include the accounts of the Company and its majority-owned subsidiaries after elimination of intercompany balances and transactions. In the opinion of management, these statements include all normal recurring adjustments necessary to fairly state the Company’s consolidated results of operations, cash flows, and financial position. The Company has evaluated subsequent events after the balance sheet date through the date of the filing of this report with the SEC. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and the notes to the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K, which was filed with the SEC on May 24, 2022 (the “Fiscal 2022 Annual Report”). The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and the accompanying notes thereto. Actual results could differ from those estimates. The condensed consolidated income statements, condensed consolidated statements of comprehensive income, and condensed consolidated statements of cash flows for the interim periods are not necessarily indicative of the results of operations or cash flows for the full year. The Company’s fiscal year is a 52- or 53-week period that ends on the Saturday nearest to March 31. The Company’s current fiscal year, “fiscal 2023,” will end on April 1, 2023 and will include 52 weeks. References to “fiscal 2022” refer to the Company’s fiscal year ended April 2, 2022. The three and six months ended October 1, 2022 and October 2, 2021 included 13 and 26 weeks, respectively. The Company’s allowance for credit losses on financial assets measured at amortized cost reflects management’s estimate of credit losses over the remaining expected life of such assets, measured primarily using historical experience, as well as current economic conditions and forecasts that affect the collectability of the reported amount. Expected credit losses for newly recognized financial assets, as well as changes to expected credit losses during the period, are recognized in earnings. Accounts receivable are reflected net of reserves of $ 1.6 million and $ 1.7 million at October 1, 2022 and April 2, 2022, respectively. At both October 1, 2022 and April 2, 2022, other notes receivable are reflected net of reserves of $ 0.4 million. In May 2022, the Company acquired certain operating assets from Manis Custom Builders, Inc. ("Manis"). In July 2022, the Company acquired 12 retail sales centers from Alta Cima Corporation. The purchase price and net assets acquired for both transactions were not material to the accompanying condensed consolidated financial statements. There were no accounting standards recently issued that are expected to have a material impact on the Company’s financial position or results of operations.
Nature of Operations	Nature of Operations: Skyline Champion Corporation's (the “Company”) operations consist of manufacturing, retail and transportation activities. At October 1, 2022, the Company operated 37 manufacturing facilities throughout the United States (“U.S.”) and five manufacturing facilities in western Canada that primarily construct factory-built, timber-framed manufactured and modular houses that are sold primarily to independent retailers, builders/developers, and manufactured home community operators. In addition to its core home building business, the Company provides construction services to install and set-up factory-built homes. The Company’s retail operations consist of 31 sales centers that sell manufactured houses to consumers across the U.S. The Company’s transportation business engages independent owners/drivers to transport recreational vehicles throughout the U.S. and Canada and manufactured houses in certain regions of the U.S. The Company also has a holding company located in the Netherlands.

Inventories, Net (Tables)

Inventories, Net (Tables)	6 Months Ended
	Oct. 01, 2022
Inventory Disclosure [Abstract]
Summary of Components of Inventory, Net of Reserves for Obsolete Inventory	The components of inventory, net of reserves for obsolete inventory, were as follows: (Dollars in thousands) October 1, April 2, Raw materials $ 123,921 $ 141,238 Work in process 27,755 26,523 Finished goods and other 88,775 73,573 Total inventories, net $ 240,451 $ 241,334

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	6 Months Ended
	Oct. 01, 2022
Property, Plant and Equipment [Abstract]
Summary of Components of Property, Plant, and Equipment	The components of property, plant, and equipment were as follows: (Dollars in thousands) October 1, April 2, Land and improvements $ 41,308 $ 39,815 Buildings and improvements 113,798 104,085 Machinery and equipment 77,399 69,518 Construction in progress 21,677 10,280 Property, plant, and equipment, at cost 254,182 223,698 Less: accumulated depreciation ( 97,211 ) ( 90,713 ) Property, plant, and equipment, net $ 156,971 $ 132,985

Goodwill, Intangible Assets, _2

Goodwill, Intangible Assets, and Cloud Computing Arrangements (Tables)	6 Months Ended
	Oct. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Components of Amortizable Intangible Assets	The components of amortizable intangible assets were as follows: (Dollars in thousands) October 1, 2022 April 2, 2022 Customer Trade Total Customer Trade Total Gross carrying amount $ 65,949 $ 21,470 $ 87,419 $ 61,986 $ 21,419 $ 83,405 Accumulated amortization ( 27,071 ) ( 9,086 ) ( 36,157 ) ( 23,819 ) ( 8,303 ) $ ( 32,122 ) Amortizable intangibles, net $ 38,878 $ 12,384 $ 51,262 $ 38,167 $ 13,116 $ 51,283

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	6 Months Ended
	Oct. 01, 2022
Other Liabilities Disclosure [Abstract]
Components of Other Current Liabilities	The components of other current liabilities were as follows: (Dollars in thousands) October 1, April 2, Customer deposits $ 84,481 $ 67,396 Accrued volume rebates 30,096 23,505 Accrued warranty obligations 28,729 25,806 Accrued compensation and payroll taxes 50,384 64,888 Accrued insurance 18,069 13,569 Accrued income taxes 20,407 6,959 Other 20,937 20,370 Total other current liabilities $ 253,103 $ 222,493

Accrued Warranty Obligations (T

Accrued Warranty Obligations (Tables)	6 Months Ended
	Oct. 01, 2022
Guarantees and Product Warranties [Abstract]
Summary of Changes in Accrued Warranty Obligations	Changes in the accrued warranty obligations were as follows: Three months ended Six months ended (Dollars in thousands) October 1, October 2, October 1, October 2, Balance at beginning of period $ 33,155 $ 31,079 $ 32,832 $ 30,469 Warranty expense 15,839 10,880 27,760 21,184 Cash warranty payments ( 13,239 ) ( 10,104 ) ( 24,837 ) ( 19,798 ) Balance at end of period 35,755 31,855 35,755 31,855 Less: noncurrent portion in other long-term liabilities ( 7,026 ) ( 6,436 ) ( 7,026 ) ( 6,436 ) Total current portion $ 28,729 $ 25,419 $ 28,729 $ 25,419

Debt and Floor Plan Payable (Ta

Debt and Floor Plan Payable (Tables)	6 Months Ended
	Oct. 01, 2022
Debt Disclosure [Abstract]
Summary of Long Term Debt	Long-term debt consisted of the following: (Dollars in thousands) October 1, April 2, Obligations under industrial revenue bonds due 2029 $ 12,430 $ 12,430 Revolving credit facility maturing in 2026 — — Total long-term debt $ 12,430 $ 12,430

Revenue Recognition (Tables)

Revenue Recognition (Tables)	6 Months Ended
	Oct. 01, 2022
Revenue from Contract with Customer [Abstract]
Summary of Corporate Net Sales	The following tables disaggregate the Company’s revenue by sales category: Three months ended October 1, 2022 (Dollars in thousands) U.S. Canadian Corporate/ Total Manufacturing and retail $ 754,148 $ 39,198 $ — $ 793,346 Commercial 89 — — 89 Transportation — — 13,390 13,390 Total $ 754,237 $ 39,198 $ 13,390 $ 806,825 Six months ended October 1, 2022 (Dollars in thousands) U.S. Canadian Corporate/ Total Manufacturing and retail $ 1,414,959 $ 84,260 $ — $ 1,499,219 Commercial 359 — — 359 Transportation — — 33,128 33,128 Total $ 1,415,318 $ 84,260 $ 33,128 $ 1,532,706 Three months ended October 2, 2021 (Dollars in thousands) U.S. Canadian Corporate/ Total Manufacturing and retail $ 469,127 $ 38,501 $ — $ 507,628 Commercial 2,572 — — 2,572 Transportation — — 14,025 14,025 Total $ 471,699 $ 38,501 $ 14,025 $ 524,225 Six months ended October 2, 2021 (Dollars in thousands) U.S. Canadian Corporate/ Total Manufacturing and retail $ 925,018 $ 76,332 $ — $ 1,001,350 Commercial 4,001 — — 4,001 Transportation — — 29,071 29,071 Total $ 929,019 $ 76,332 $ 29,071 $ 1,034,422

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Oct. 01, 2022
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings per Common Share	The following table sets forth the computation of basic and diluted earnings per common share: Three months ended Six months ended (Dollars and shares in thousands, except per share data) October 1, October 2, October 1, October 2, Numerator: Net income attributable to the Company's common shareholders $ 144,092 $ 50,723 $ 261,243 $ 93,624 Denominator: Basic weighted-average shares outstanding 56,956 56,808 56,933 56,757 Dilutive securities 450 400 431 455 Diluted weighted-average shares outstanding 57,406 57,208 57,364 57,212 Basic net income per share $ 2.53 $ 0.89 $ 4.59 $ 1.65 Diluted net income per share $ 2.51 $ 0.89 $ 4.55 $ 1.64

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Oct. 01, 2022
Segment Reporting [Abstract]
Schedule of Financial Information by Reportable Segments	Selected financial information by reportable segment was as follows: Three months ended Six months ended (Dollars in thousands) October 1, October 2, October 1, October 2, Net sales: U.S. Factory-built Housing $ 754,237 $ 471,699 $ 1,415,318 $ 929,019 Canadian Factory-built Housing 39,198 38,501 84,260 76,332 Corporate/Other 13,390 14,025 33,128 29,071 Consolidated net sales $ 806,825 $ 524,225 $ 1,532,706 $ 1,034,422 Operating income: U.S. Factory-built Housing EBITDA $ 199,284 $ 78,075 $ 360,849 $ 141,092 Canadian Factory-built Housing EBITDA 10,141 6,390 21,468 12,056 Corporate/Other EBITDA ( 12,293 ) ( 11,351 ) ( 21,882 ) ( 17,328 ) Other expense (income) — 11 ( 634 ) ( 43 ) Depreciation ( 4,166 ) ( 3,264 ) ( 7,836 ) ( 6,521 ) Amortization ( 2,775 ) ( 1,874 ) ( 4,721 ) ( 3,762 ) Consolidated operating income $ 190,191 $ 67,987 $ 347,244 $ 125,494 Depreciation: U.S. Factory-built Housing $ 3,505 $ 2,619 $ 6,542 $ 5,229 Canadian Factory-built Housing 345 273 626 558 Corporate/Other 316 372 668 734 Consolidated depreciation $ 4,166 $ 3,264 $ 7,836 $ 6,521 Amortization of U.S. Factory-built Housing intangible assets: $ 2,775 $ 1,874 $ 4,721 $ 3,762 Capital expenditures: U.S. Factory-built Housing $ 14,778 $ 5,269 $ 23,711 $ 12,527 Canadian Factory-built Housing 1,068 236 1,429 341 Corporate/Other 332 379 473 2,237 Consolidated capital expenditures $ 16,178 $ 5,884 $ 25,613 $ 15,105 (Dollars in thousands) October 1, April 2, Total Assets: U.S. Factory-built Housing (1) $ 724,859 $ 695,500 Canadian Factory-built Housing (1) 115,188 107,459 Corporate/Other (1) 667,571 431,660 Consolidated total assets $ 1,507,618 $ 1,234,619 (1) Deferred tax assets for the Canadian operations are reflected in the Canadian Factory-built Housing segment. U.S. deferred tax assets are presented in Corporate/Other because an allocation between segments is not practicable.

Basis of Presentation and Bus_3

Basis of Presentation and Business - Additional information (Detail) $ in Thousands	3 Months Ended	6 Months Ended
	Oct. 01, 2022 USD ($) Facility Center	Oct. 01, 2022 USD ($) Center	Oct. 02, 2021 USD ($)	Jul. 31, 2022 Center	Apr. 02, 2022 USD ($)
Significant Accounting Policies [Line Items]
Trade accounts receivable, net	$ 82,662	$ 82,662			$ 90,536
Payments to acquire business		6,810	$ 207
Alta Cima Corporation [Member]
Significant Accounting Policies [Line Items]
Number of Retail Sales Centers | Center				12
Accounting Standards Update 2016-13 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Significant Accounting Policies [Line Items]
Trade accounts receivable, net	1,600	1,600			1,700
Other notes receivable net of reserves	$ 400	$ 400			$ 400
U.S [Member]
Significant Accounting Policies [Line Items]
Number of manufacturing facilities | Facility	37
Number of sales centers | Center	31	31
Canada [Member]
Significant Accounting Policies [Line Items]
Number of manufacturing facilities | Facility	5

Business Acquisition - Schedule

Business Acquisition - Schedule of Purchase Price Preliminary Allocation on Assets and Liabilities (Detail) - USD ($) $ in Thousands	Oct. 01, 2022	Apr. 02, 2022
Business Acquisition [Line Items]
Goodwill	$ 196,574	$ 191,970

Inventories, Net - Summary of C

Inventories, Net - Summary of Components of Inventory, Net of Reserves for Obsolete Inventory (Detail) - USD ($) $ in Thousands	Oct. 01, 2022	Apr. 02, 2022
Inventory Disclosure [Abstract]
Raw materials	$ 123,921	$ 141,238
Work in process	27,755	26,523
Finished goods and other	88,775	73,573
Total inventories, net	$ 240,451	$ 241,334

Inventories, Net - Additional I

Inventories, Net - Additional Information (Detail) - USD ($) $ in Millions	Oct. 01, 2022	Apr. 02, 2022
Inventory Disclosure [Abstract]
Reserves for obsolete inventory	$ 6.5	$ 4.8

Property Plant, and Equipment -

Property Plant, and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Property, Plant and Equipment [Line Items]
Depreciation expense	$ 4,166	$ 3,264	$ 7,836	$ 6,521
Minimum [Member] | Land and Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property, plant and equipment			3 years
Minimum [Member] | Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property, plant and equipment			8 years
Minimum [Member] | Vehicles [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property, plant and equipment			3 years
Minimum [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property, plant and equipment			3 years
Maximum [Member] | Land and Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property, plant and equipment			10 years
Maximum [Member] | Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property, plant and equipment			25 years
Maximum [Member] | Vehicles [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property, plant and equipment			8 years
Maximum [Member] | Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property, plant and equipment			8 years

Property Plant, and Equipment_2

Property Plant, and Equipment - Summary of Components of Property, Plant, and Equipment (Detail) - USD ($) $ in Thousands	Oct. 01, 2022	Apr. 02, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	$ 254,182	$ 223,698
Less accumulated depreciation	(97,211)	(90,713)
Property, plant, and equipment, net	156,971	132,985
Land and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	41,308	39,815
Building and Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	113,798	104,085
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	77,399	69,518
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, at cost	$ 21,677	$ 10,280

Goodwill, Intangible Assets, _3

Goodwill, Intangible Assets, and Cloud Computing Arrangements - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021	Apr. 02, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	$ 196,574		$ 196,574		$ 191,970
Amortization of intangible assets	2,800	$ 1,900	4,721	$ 3,762
Capitalized cloud computing costs	24,800		24,800		$ 20,500
Amortization of capitalized cloud computing costs	$ 200	$ 0	$ 400	$ 0

Goodwill, Intangible Assets, _4

Goodwill, Intangible Assets, and Cloud Computing Arrangements - Components of Amortizable Intangible Assets (Detail) - USD ($) $ in Thousands	Oct. 01, 2022	Apr. 02, 2022
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 87,419	$ 83,405
Accumulated amortization	(36,157)	(32,122)
Amortizable intangibles, net	51,262	51,283
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	65,949	61,986
Accumulated amortization	(27,071)	(23,819)
Amortizable intangibles, net	38,878	38,167
Trade Names [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	21,470	21,419
Accumulated amortization	(9,086)	(8,303)
Amortizable intangibles, net	$ 12,384	$ 13,116

Other Current Liabilities - Com

Other Current Liabilities - Components of Other Current Liabilities (Detail) - USD ($) $ in Thousands	Oct. 01, 2022	Apr. 02, 2022	Oct. 02, 2021
Other Liabilities Disclosure [Abstract]
Customer deposits	$ 84,481	$ 67,396
Accrued volume rebates	30,096	23,505
Accrued warranty obligations	28,729	25,806	$ 25,419
Accrued compensation and payroll taxes	50,384	64,888
Accrued insurance	18,069	13,569
Accrued taxes	20,407	6,959
Other	20,937	20,370
Total other current liabilities	$ 253,103	$ 222,493

Accrued Warranty Obligations -

Accrued Warranty Obligations - Summary of Changes in Accrued Warranty Obligations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021	Apr. 02, 2022
Guarantees and Product Warranties [Abstract]
Balance at beginning of period	$ 33,155	$ 31,079	$ 32,832	$ 30,469
Warranty expense	15,839	10,880	27,760	21,184
Cash warranty payments	(13,239)	(10,104)	(24,837)	(19,798)
Balance at end of period	35,755	31,855	35,755	31,855
Less noncurrent portion in other long-term liabilities	(7,026)	(6,436)	(7,026)	(6,436)
Total current portion	$ 28,729	$ 25,419	$ 28,729	$ 25,419	$ 25,806

Debt and Floor Plan Payable - S

Debt and Floor Plan Payable - Summary of Long Term Debt (Detail) - USD ($) $ in Thousands	Oct. 01, 2022	Apr. 02, 2022
Debt Instrument [Line Items]
Total long-term debt	$ 12,430	$ 12,430
Obligations Under Industrial Revenue Bonds Due 2029 [Member]
Debt Instrument [Line Items]
Total long-term debt	12,430	12,430
Revolving Credit Facility Maturing in 2026 [Member]
Debt Instrument [Line Items]
Total long-term debt	$ 0	$ 0

Debt and Floor Plan Payable - A

Debt and Floor Plan Payable - Additional Information (Detail) $ in Thousands	6 Months Ended
	Oct. 01, 2022 USD ($)	Oct. 02, 2021 USD ($)	Apr. 02, 2022 USD ($)	Jul. 07, 2021 USD ($)	Jul. 03, 2021 USD ($)
Debt Instrument [Line Items]
Revolving credit facility, maturity month and year	2026-07
Deferred financing fees written off	$ 175	$ 509
Interest Expense [Member]
Debt Instrument [Line Items]
Deferred financing fees written off	$ 300
Obligations Under Industrial Revenue Bonds Due 2029 [Member]
Debt Instrument [Line Items]
Weighted-average interest rate	4.17%
Industrial revenue bonds maturity	2029
Floor Plan Financing Arrangements [Member]
Debt Instrument [Line Items]
Outstanding borrowings	$ 38,500		$ 35,500
Line of Credit Facility, description	Borrowings are secured by the homes and are required to be repaid when the Company sells the home to a customer.
Credit Agreement [Member] | Other Noncurrent Assets [Member]
Debt Instrument [Line Items]
Deferred financing fees capitalized				$ 1,100
Credit Agreement [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving credit facility				200,000	$ 100,000
First lien leverage ratio	2.25
Outstanding borrowings	$ 0		$ 0	26,900
Credit Agreement [Member] | Revolving Credit Facility [Member] | Consolidated Total Net Leverage Ratio Equal to Or Greater Than 2.25:1.00 [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.875%
Credit Agreement [Member] | Revolving Credit Facility [Member] | Consolidated Total Net Leverage Ratio Equal to Or Greater Than 2.25:1.00 [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	0.875%
Credit Agreement [Member] | Revolving Credit Facility [Member] | Consolidated Total Net Leverage Below 0.50:1.00 [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.125%
Credit Agreement [Member] | Revolving Credit Facility [Member] | Consolidated Total Net Leverage Below 0.50:1.00 [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	0.125%
Minimum [Member] | Credit Agreement [Member] | Revolving Credit Facility [Member] | Consolidated Total Net Leverage [Member]
Debt Instrument [Line Items]
Unused line fee percentage	0.15%
Maximum [Member] | Floor Plan Financing Arrangements [Member]
Debt Instrument [Line Items]
Revolving credit facility	$ 7,000
Maximum [Member] | Credit Agreement [Member] | Revolving Credit Facility [Member] | Consolidated Total Net Leverage [Member]
Debt Instrument [Line Items]
Unused line fee percentage	0.30%
Letter of Credit [Member] | Credit Agreement [Member]
Debt Instrument [Line Items]
Revolving credit facility				$ 45,000
Letters of credit issued	$ 32,100
Available borrowings under Credit Agreement	$ 167,900

Revenue Recognition - Summary o

Revenue Recognition - Summary of Corporate Net Sales (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Disaggregation of Revenue [Line Items]
Consolidated Net Sales	$ 806,825	$ 524,225	$ 1,532,706	$ 1,034,422
Manufacturing and Retail [Member]
Disaggregation of Revenue [Line Items]
Consolidated Net Sales	793,346	507,628	1,499,219	1,001,350
Commercial [Member]
Disaggregation of Revenue [Line Items]
Consolidated Net Sales	89	2,572	359	4,001
Transportation [Member]
Disaggregation of Revenue [Line Items]
Consolidated Net Sales	13,390	14,025	33,128	29,071
U.S Factory-Built Housing [Member]
Disaggregation of Revenue [Line Items]
Consolidated Net Sales	754,237	471,699	1,415,318	929,019
U.S Factory-Built Housing [Member] | Manufacturing and Retail [Member]
Disaggregation of Revenue [Line Items]
Consolidated Net Sales	754,148	469,127	1,414,959	925,018
U.S Factory-Built Housing [Member] | Commercial [Member]
Disaggregation of Revenue [Line Items]
Consolidated Net Sales	89	2,572	359	4,001
Canadian Factory-Built Housing [Member]
Disaggregation of Revenue [Line Items]
Consolidated Net Sales	39,198	38,501	84,260	76,332
Canadian Factory-Built Housing [Member] | Manufacturing and Retail [Member]
Disaggregation of Revenue [Line Items]
Consolidated Net Sales	39,198	38,501	84,260	76,332
Corporate Other [Member]
Disaggregation of Revenue [Line Items]
Consolidated Net Sales	13,390	14,025	33,128	29,071
Corporate Other [Member] | Transportation [Member]
Disaggregation of Revenue [Line Items]
Consolidated Net Sales	$ 13,390	$ 14,025	$ 33,128	$ 29,071

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Income Tax Contingency [Line Items]
Income tax expense	$ 48,073,000	$ 16,408,000	$ 88,519,000	$ 30,419,000
Effective tax rate	25%	24.40%	25.30%	24.50%
Statutory federal income tax rate	21%	21%	21%	21%
Unrecognized tax benefits	$ 0		$ 0

Earnings Per Share - Computatio

Earnings Per Share - Computation of Basic and Diluted Earnings Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021
Numerator:
Net income attributable to the Company's common shareholders	$ 144,092	$ 50,723	$ 261,243	$ 93,624
Denominator:
Basic weighted average shares outstanding	56,956	56,808	56,933	56,757
Dilutive securities	450	400	431	455
Diluted weighted average shares outstanding	57,406	57,208	57,364	57,212
Basic net income per share	$ 2.53	$ 0.89	$ 4.59	$ 1.65
Diluted net income per share	$ 2.51	$ 0.89	$ 4.55	$ 1.64

Segment Information - Additiona

Segment Information - Additional Information (Detail)	6 Months Ended
	Oct. 01, 2022 Segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information - Schedule

Segment Information - Schedule of Financial Information by Reportable Segments (Detail) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Oct. 01, 2022	Oct. 02, 2021	Oct. 01, 2022	Oct. 02, 2021	Apr. 02, 2022
Segment Reporting Information [Line Items]
Net sales		$ 806,825	$ 524,225	$ 1,532,706	$ 1,034,422
Operating income (loss)		190,191	67,987	347,244	125,494
Other expense (income)		0	11	(634)	(43)
Depreciation		4,166	3,264	7,836	6,521
Amortization		(2,775)	(1,874)	(4,721)	(3,762)
Amortization of intangible assets		2,800	1,900	4,721	3,762
Assets		1,507,618		1,507,618		$ 1,234,619
U.S Factory-Built Housing [Member]
Segment Reporting Information [Line Items]
Net sales		754,237	471,699	1,415,318	929,019
Amortization of intangible assets		2,775	1,874	4,721	3,762
Canadian Factory-Built Housing [Member]
Segment Reporting Information [Line Items]
Net sales		39,198	38,501	84,260	76,332
Operating Segments [Member] | U.S Factory-Built Housing [Member]
Segment Reporting Information [Line Items]
Net sales		754,237	471,699	1,415,318	929,019
Operating income (loss)		199,284	78,075	360,849	141,092
Depreciation		3,505	2,619	6,542	5,229
Capital expenditures		14,778	5,269	23,711	12,527
Assets	[1]	724,859		724,859		695,500
Operating Segments [Member] | Canadian Factory-Built Housing [Member]
Segment Reporting Information [Line Items]
Net sales		39,198	38,501	84,260	76,332
Operating income (loss)		10,141	6,390	21,468	12,056
Depreciation		345	273	626	558
Capital expenditures		1,068	236	1,429	341
Assets	[1]	115,188		115,188		107,459
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Net sales		13,390	14,025	33,128	29,071
Operating income (loss)		(12,293)	(11,351)	(21,882)	(17,328)
Depreciation		316	372	668	734
Capital expenditures		332	379	473	2,237
Assets	[1]	667,571		667,571		431,660
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Net sales		806,825	524,225	1,532,706	1,034,422
Operating income (loss)		190,191	67,987	347,244	125,494
Depreciation		4,166	3,264	7,836	6,521
Capital expenditures		16,178	$ 5,884	25,613	$ 15,105
Assets		$ 1,507,618		$ 1,507,618		$ 1,234,619
[1] Deferred tax assets for the Canadian operations are reflected in the Canadian Factory-built Housing segment. U.S. deferred tax assets are presented in Corporate/Other because an allocation between segments is not practicable.

Commitments, Contingencies an_2

Commitments, Contingencies and Legal Proceedings - Additional Information (Detail) - USD ($) $ in Millions		6 Months Ended
	Oct. 01, 2022	Oct. 01, 2022	Apr. 02, 2022
Commitment And Contingencies [Line Items]
Reserve for estimated losses under repurchase agreements	$ 2.6	$ 2.6	$ 2.3
Contingent repurchase obligation	395.6
Guarantee obligations term		12 years
Letters of Credit [Member]
Commitment And Contingencies [Line Items]
Contingent obligation	32.1	$ 32.1
Long-term Debt [Member]
Commitment And Contingencies [Line Items]
Contingent obligation	12.6	12.6
Casualty Insurance Program [Member]
Commitment And Contingencies [Line Items]
Contingent obligation	19.2	19.2
Bonding Agreements [Member]
Commitment And Contingencies [Line Items]
Contingent obligation	0.3	0.3
Surety Bond [Member]
Commitment And Contingencies [Line Items]
Contingent obligation	$ 30.4	$ 30.4