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Inventory Finance Receivables and Allowance for Loan Loss (Tables)
 9 Months Ended
Dec. 27, 2014
Receivables [Abstract]  
Inventory Finance Receivables
Inventory finance notes receivables, net, consist of the following by class of financing notes receivable (in thousands):
 
December 27,
2014
 
March 29,
2014
Direct inventory finance notes receivable
$
18,772

 
$
19,879

Participation inventory finance notes receivable
2,153

 
1,568

Allowance for loan loss
(117
)
 
(139
)
 
$
20,808

 
$
21,308
Changes in the Allowance for Loan Losses on Inventory Finance Receivables
he following table represents changes in the estimated allowance for loan losses, including related additions and deductions to the allowance for loan loss applicable to the direct inventory finance notes receivable (in thousands):
 
Three Months Ended
 
Nine Months Ended
 
December 27,
2014
 
December 28,
2013
 
December 27,
2014
 
December 28,
2013
Balance at beginning of period
$
134

 
$
206

 
$
139

 
$
350

Provision for inventory finance credit losses
(17
)
 
(24
)
 
(22
)
 
(122
)
Loans charged off, net of recoveries
—

 
11

 
—

 
(35
)
Balance at end of period
$
117

 
$
193

 
$
117

 
$
193
Allowance for Loan Losses and Inventory Finance Receivables By Class Individually and Collectively Evaluated for Impairment
The following table disaggregates inventory finance notes receivable and the estimated allowance for loan loss for each class of financing receivable by evaluation methodology (in thousands):
 
Direct Inventory Finance
 
Participation Inventory Finance
 
December 27,
2014
 
March 29,
2014
 
December 27,
2014
 
March 29,
2014
Inventory finance notes receivable:
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
11,543

 
$
12,202

 
$
—

 
$
—

Individually evaluated for impairment
7,229

 
7,677

 
2,153

 
1,568

 
$
18,772

 
$
19,879

 
$
2,153

 
$
1,568

Allowance for loan loss:
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
(117
)
 
$
(126
)
 
$
—

 
$
—

Individually evaluated for impairment
—

 
(13
)
 
—

 
—

 
$
(117
)
 
$
(139
)
 
$
—

 
$
—
Inventory Finance Receivables by Class and Internal Credit Quality Indicator
The following table disaggregates the Company's inventory finance receivables by class and credit quality indicator (in thousands):
 
Direct Inventory Finance
 
Participation Inventory Finance
 
December 27,
2014
 
March 29,
2014
 
December 27,
2014
 
March 29,
2014
Risk profile based on payment activity:
 
 
 
 
 
 
 
Performing
$
18,643

 
$
19,477

 
$
2,153

 
$
1,568

Watch list
—

 
—

 
—

 
—

Nonperforming
129

 
402

 
—

 
—

 
$
18,772

 
$
19,879

 
$
2,153

 
$
1,568
Geographic Concentration of Inventory Finance Receivables in Key States
The Company has concentrations of inventory finance notes receivable related to factory-built homes located in the following states, measured as a percentage of inventory finance receivables principal balance outstanding:
 
December 27,
2014
 
March 29,
2014
Texas
31.1
%
 
14.9
%
Florida
26.2
%
 
24.4
%