Inventory Finance Receivables and Allowance for Loan Loss (Tables)

9 Months Ended

Dec. 29, 2012

Consumer Loans Receivable/Inventory Finance Receivables and Allowance for Loan Loss [Abstract]

Inventory Finance Receivables

Inventory finance notes receivables, net, consist of the following by class of financing notes receivable (in thousands):

	December 29,			March 31,
	2012			2012
Direct inventory finance receivables	$	18,181		$	18,367
Participation inventory finance receivables		7,822			6,529
Allowance for loan loss		(126	)		(215	)
	$	25,877		$	24,681

Changes in the Allowance for Loan Losses on Inventory Finance Receivables

The 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 receivables (in thousands):

	Three Months Ended					Nine Months Ended
	December 29,			December 31,		December 29,			December 31,
	2012			2011		2012			2011
Balance at beginning of period	$	139		$	185	$	215		$	169
Provision for credit losses		(13	)		17		(89	)		33
Balance at end of period	$	126		$	202	$	126		$	202

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 29,			March 31,			December 29,		March 31,
	2012			2012			2012		2012
Inventory finance notes receivable:
Collectively evaluated for impairment	$	12,518		$	13,916		$	—	$	—
Individually evaluated for impairment		5,663			4,451			7,822		6,529
	$	18,181		$	18,367		$	7,822	$	6,529
Allowance for loan loss:
Collectively evaluated for impairment	$	(126	)	$	(215	)	$	—	$	—
Individually evaluated for impairment		—			—			—		—
	$	(126	)	$	(215	)	$	—	$	—

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 29,		March 31,		December 29,		March 31,
	2012		2012		2012		2012
Risk profile based on payment activity:
Performing	$	18,133	$	17,972	$	7,822	$	6,529
Watch list		48		395		—		—
	$	18,181	$	18,367	$	7,822	$	6,529

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 as of December 29, 2012 and March 31, 2012:

	December 29,			March 31,
	2012			2012
Florida		13.5	%		10.7	%
Texas		12.9	%		11.3	%
Arizona		11.5	%		21.4	%
California		2.6	%		3.0	%