Income Taxes (Tables)

12 Months Ended

Mar. 28, 2015

Income Tax Disclosure [Abstract]

Provision (benefit) for income taxes

The provision for income taxes for fiscal years 2015, 2014 and 2013 were as follows (in thousands):

	Fiscal Year
	2015		2014			2013
Current
Federal	$	8,277	$	7,630		$	3,955
State	882		913			263
Total current	9,159		8,543			4,218
Deferred
Federal	3,937		586			1,416
State	414		(30		)	717
Total deferred	4,351		556			2,133
Total income tax provision	$	13,510	$	9,099		$	6,351

Reconciliations of income taxes

A reconciliation of income taxes computed by applying the expected federal statutory income tax rates of 35% for fiscal years 2015 and 2014, and 34% for fiscal year 2013 to income before income taxes to the total income tax provision reported in the Consolidated Statements of Comprehensive Income is as follows (in thousands):

	Fiscal Year
	2015			2014			2013
Federal income tax at statutory rate	$	13,065		$	9,732		$	5,660
State income taxes, net of federal benefit	1,104			849			597
Domestic production activities deduction	(561		)	(783		)	(123		)
Tax credits	(374		)	(319		)	(595		)
Change in deferred tax rate	92			(557		)	966
Other	184			177			(154		)
Total income tax provision	$	13,510		$	9,099		$	6,351

Net current deferred tax assets and net long-term deferred tax liabilities

Net current deferred tax assets and net long-term deferred tax liabilities were as follows (in thousands):

	March 28, 2015			March 29, 2014
Net current deferred tax assets (liabilities)
Warranty reserves	$	3,714		$	3,447
Salaries and wages	2,354			2,432
Inventory	1,305			1,164
Policy acquisition costs	(1,136		)	(946		)
Deferred revenue	1,132			951
Repurchase reserves	962			831
Insurance reserves	628			655
Net operating loss carryforwards	246			3,653
Other	(632		)	126
	$	8,573		$	12,313
Net long-term deferred tax (liabilities) assets
Goodwill	$	(24,714	)	$	(24,597	)
Loan discount	8,519			9,509
Property, plant, equipment and depreciation	(4,970		)	(5,454		)
Stock based compensation	2,648			2,094
Other intangibles	(2,416		)	(2,833		)
Deferred margin	1,117			1,625
Bond discount	(925		)	(1,036		)
Buydown points	(569		)	(662		)
Reserves related to consumer loans sold	350			402
Net operating loss carryforwards	156			665
Tax credits	155			159
Other	62			180
	$	(20,587	)	$	(19,948	)