XML 45 R35.htm IDEA: XBRL DOCUMENT v3.20.2
Consumer Loans Receivable (Tables)
6 Months Ended
Sep. 26, 2020
Receivables [Abstract]  
Consumer Loans Receivable
The following table summarizes consumer loans receivable (in thousands):
September 26,
2020
March 28,
2020
Loans held for investment (at Acquisition Date, defined below)$35,692 $37,779 
Loans held for investment (originated after Acquisition Date)19,299 20,140 
Loans held for sale18,986 14,671 
Construction advances14,063 13,400 
88,040 85,990 
Deferred financing fees and other, net(2,290)(1,919)
Allowance for loan losses(3,910)(1,767)
81,840 82,304 
Less current portion(39,023)(32,376)
$42,817 $49,928 
Financing Receivable, Allowance for Credit Loss
The following table represents changes in the estimated allowance for loan losses, including related additions and deductions to the allowance for loan losses (in thousands):
Three Months EndedSix Months Ended
September 26,
2020
September 28,
2019
September 26,
2020
September 28,
2019
Allowance for loan losses at beginning of period$4,012 $421 $1,767 $415 
Impact of adoption of ASU 2016-13— — 2,276 — 
Change in estimated loan losses, net(94)(6)67 — 
Charge-offs(8)— (200)— 
Recoveries— — — — 
Allowance for loan losses at end of period$3,910 $415 $3,910 $415 
Deliquency Status of Consumer Loans
The following table is a consolidated summary of the delinquency status of the outstanding amortized cost of consumer loans receivable (in thousands):
September 26,
2020
March 28,
2020
Current$84,852 $83,861 
31-to-60 days1,200 547 
61-to-90 days26 307 
91+ days1,962 1,275 
$88,040 $85,990 
Gross Consumer Loans Receivable by Credit Quality and Fiscal Year of Origination
The following tables disaggregates CountryPlace's gross consumer loans receivable by credit quality indicator and fiscal year of origination (in thousands):
September 26, 2020
20212020201920182017PriorTotalMarch 28,
2020
Prime- FICO score 680 and greater
$14,707 $8,496 $2,315 $1,523 $1,848 $25,991 $54,880 $55,513 
Near Prime- FICO score 620-679
8,684 6,216 1,864 1,146 779 11,496 30,185 27,767 
Sub-Prime- FICO score less than 620
100 89 — — 86 1,991 2,266 2,142 
No FICO score
152 — 29 — — 528 709 568 
$23,643 $14,801 $4,208 $2,669 $2,713 $40,006 $88,040 $85,990