Income Taxes (Tables)

12 Months Ended

Apr. 01, 2017

Income Tax Disclosure [Abstract]

Provision (benefit) for income taxes

The provision for income taxes for fiscal years 2017, 2016 and 2015 were as follows (in thousands):

	Fiscal Year
	2017			2016			2015
Current
Federal	$	15,924		$	15,070		$	8,277
State	1,131			1,350			882
Total current	17,055			16,420			9,159
Deferred
Federal	(13		)	(987		)	3,937
State	284			54			414
Total deferred	271			(933		)	4,351
Total income tax provision	$	17,326		$	15,487		$	13,510

Reconciliations of income taxes

A reconciliation of income taxes computed by applying the expected federal statutory income tax rates of 35% for fiscal years 2017, 2016 and 2015 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
	2017			2016			2015
Federal income tax at statutory rate	$	19,348		$	15,410		$	13,065
Tax credits	(1,826		)	(941		)	(374		)
State income taxes, net of federal benefit	1,428			1,427			1,104
Domestic production activities deduction	(1,422		)	(889		)	(561		)
Other	(202		)	480			276
Total income tax provision	$	17,326		$	15,487		$	13,510

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):

	April 1, 2017			April 2, 2016
Net current deferred tax assets (liabilities)
Warranty reserves	$	5,784		$	5,019
Prepaid expenses	(2,494		)	(1,472		)
Salaries and wages	2,375			2,501
Inventory	1,466			1,510
Deferred revenue	1,374			1,206
Policy acquisition costs	(1,001		)	(1,201		)
Other	1,700			1,435
	$	9,204		$	8,998
Net long-term deferred tax (liabilities) assets
Goodwill	$	(24,847	)	$	(24,635	)
Loan discount	6,419			7,546
Property, plant, equipment and depreciation	(4,569		)	(4,621		)
Stock based compensation	3,054			2,784
Other intangibles	(2,382		)	(2,418		)
Deferred margin	1,627			1,562
Other	(420		)	(829		)
	$	(21,118	)	$	(20,611	)