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Inventory Finance Receivables and Allowance for Loan Loss (Tables)
 3 Months Ended
Jun. 29, 2013
Receivables [Abstract]  
Inventory Finance Receivables
Inventory finance notes receivables, net, consist of the following by class of financing notes receivable (in thousands):

June 29,
2013
 
March 30,
2013
Direct inventory finance notes receivable
$
20,583

 
$
18,955

Participation inventory finance notes receivable
3,604

 
4,345

Allowance for loan loss
(210
)
 
(350
)
 
$
23,977

 
$
22,950
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):
 
Three months ended

June 29,
2013
 
June 30,
2012
Balance at beginning of period
$
350

 
$
215

Provision for inventory finance credit losses
(97
)
 
(19
)
Loans charged off, net of recoveries
(43
)
 
—

Balance at end of period
$
210

 
$
196
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

June 29,
2013
 
March 30,
2013
 
June 29,
2013
 
March 30,
2013
Inventory finance notes receivable:
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
13,640

 
$
12,708

 
$
—

 
$
—

Individually evaluated for impairment
6,943

 
6,247

 
3,604

 
4,345

 
$
20,583

 
$
18,955

 
$
3,604

 
$
4,345

Allowance for loan loss:
 
 
 
 
 
 
 
Collectively evaluated for impairment
$
(139
)
 
$
(130
)
 
$
—

 
$
—

Individually evaluated for impairment
(71
)
 
(220
)
 
—

 
—

 
$
(210
)
 
$
(350
)
 
$
—

 
$
—
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

June 29,
2013
 
March 30,
2013
 
June 29,
2013
 
March 30,
2013
Risk profile based on payment activity:
 
 
 
 
 
 
 
Performing
$
20,334

 
$
18,446

 
$
3,604

 
$
4,345

Watch list
73

 
—

 
—

 
—

Nonperforming
176

 
509

 
—

 
—

 
$
20,583

 
$
18,955

 
$
3,604

 
$
4,345
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:

June 29,
2013
 
March 30,
2013
Florida
24.1
%
 
20.9
%
Texas
12.4
%
 
12.6
%
Colorado
11.2
%
 
5.1
%
Arizona
8.0
%
 
10.5
%