Inventory Finance Receivables and Allowance for Loan Loss (Tables)

12 Months Ended

Mar. 30, 2013

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



	March 30, 2013			March 31, 2012
Direct inventory finance notes receivable	$	18,955		$	18,367
Participation inventory finance notes receivable	4,345			6,529
Allowance for loan loss	(350		)	(215		)
	$	22,950		$	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 notes receivable (in thousands):



	March 30, 2013		March 31, 2012
Balance at beginning of period	$	215	$	169
Provision for inventory finance credit losses	135		46
Loans charged off, net of recoveries	—		—
Balance at end of period	$	350	$	215

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
	March 30, 2013			March 31, 2012			March 30, 2013		March 31, 2012
Inventory finance notes receivable:
Collectively evaluated for impairment	$	12,708		$	13,916		$	—	$	—
Individually evaluated for impairment	6,247			4,451			4,345		6,529
	$	18,955		$	18,367		$	4,345	$	6,529
Allowance for loan loss:
Collectively evaluated for impairment	$	(130	)	$	(215	)	$	—	$	—
Individually evaluated for impairment	(220		)	—			—		—
	$	(350	)	$	(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
	March 30, 2013		March 31, 2012		March 30, 2013		March 31, 2012
Risk profile based on payment activity:
Performing	$	18,446	$	17,972	$	4,345	$	6,529
Watch list	—		395		—		—
Nonperforming	509		—		—		—
	$	18,955	$	18,367	$	4,345	$	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:



	March 30, 2013		March 31, 2012
Florida	20.9	%	10.7	%
Texas	12.6	%	11.3	%
Arizona	10.5	%	21.4	%