Debt Obligations (Tables)

9 Months Ended

Dec. 29, 2012

Debt Obligations [Abstract]

Debt Obligations

Debt obligations consist of the following (in thousands):

	December 29,		March 31,
	2012		2012
Securitized financing 2005-1	$	41,024	$	44,726
Securitized financing 2007-1		43,500		46,749
Construction lending lines		—		4,550
	$	84,524	$	96,025

Acquired Securitized Financings

The following table summarizes securitized financings (in thousands):

	December 29,			March 31,
	2012			2012
Securitized financings – contractual amount	$	106,768		$	117,507
Purchase Discount
Accretable		(22,244	)		(26,032	)
Non-accretable (1)		—			—
Total securitized financings, net	$	84,524		$	91,475

⁽¹⁾  As the contractual payments on acquired securitized financing are determined by the cash collections from the underlying loans, the Company expects that there will not be a non-accretable difference.

Accretable Yield Movement on Acquired Securitized Financings

The changes in accretable yield on securitized financings were as follows (in thousands):

	Three Months Ended						Nine Months Ended
	December 29,			December 31,			December 29,			December 31,
	2012			2011			2012			2011
Balance at the beginning of the period	$	23,679		$	29,779		$	26,032		$	—
Additions		—			—			—			32,072
Accretion		(1,245	)		(1,521	)		(3,988	)		(3,814	)
Adjustment to cash flows (1)		(190	)		—			200			—
Balance at the end of the period	$	22,244		$	28,258		$	22,244		$	28,258

⁽¹⁾ As the contractual payments on acquired securitized financing are determined by the cash collections from the underlying loans, the Company expects that there will not be a non-accretable difference.