Leases

12 Months Ended

Apr. 01, 2023

Leases [Abstract]

Lessee, Operating Leases

LEASES

The Company leases certain of its corporate, manufacturing and other facilities from multiple third-party real estate developers. The Company also leases various machinery and office equipment. These operating leases expire at various dates through 2036, and some of these leases have renewal options, with the longest ranging up to two, ten-year periods.

Operating leases are classified as follows (in thousands):

	April 1, 2023		April 2, 2022
Other non-current assets	$	83,490	$	73,683
Other current liabilities	19,357		17,393
Other long-term liabilities	69,156		61,511

Details of operating leases are as follows (in thousands):

	Fiscal Year
	2023		2022		2021
Operating lease expense	$	20,162	$	19,178	$	17,382
Short-term lease expense	7,798		7,726		7,062
Variable lease expense	5,386		4,886		3,972
Cash paid for amounts included in the measurement of operating lease liabilities	21,480		20,536		18,697
Right-of-use assets obtained in exchange for new operating lease liabilities	28,940		29,210		12,899

The weighted-average remaining lease term and weighted-average discount rate for operating leases are as follows:

	April 1, 2023		April 2, 2022
Weighted-average remaining lease term (years)	6.5		6.9
Weighted-average discount rate	3.98	%	2.99	%

The aggregate future lease payments for operating leases as of April 1, 2023 are as follows (in thousands):

Fiscal Year	Lease Payments
2024	$	22,037
2025	17,516
2026	15,270
2027	12,350
2028	11,270
Thereafter	21,150
Total future lease payments	99,593
Less imputed interest	(11,080)
Present value of lease liabilities	$	88,513