Leases

12 Months Ended

Mar. 28, 2021

Leases [Abstract]

Lessee, Operating Leases

Leases

Lease Obligations. As of March 28, 2021, we were obligated under operating lease agreements for certain manufacturing facilities, warehouse space, the land on which some of our facilities sit, vehicles and information technology equipment. Our leases have remaining lease terms of 1 year to 23 years, some of which include options to extend the lease for up to 15 years.

As of March 28, 2021 and March 29, 2020, our operating lease components with initial or remaining terms in excess of one year were classified on the consolidated balance sheet within right of use assets, short-term lease liability and long-term lease liability.

Total lease expense was $2.8 million for the both twelve months ended March 28, 2021 and March 29, 2020, and includes leases less than 12 months in duration.

Our facility in Fullerton, California is leased from a party related to Daniel Stauber, one of our Board members. The total amount of lease expense related to this lease in fiscal 2021 was $0.5 million, of which less than $0.1 million was attributable to Mr. Stauber. We have included $5.7 million on our balance sheet as a right-of-use asset, with a corresponding equal amount of lease liabilities, related to this lease.

Other information related to our operating leases was as follows:

	March 29, 2021		March 29, 2020
Lease Term and Discount Rate
Weighted average remaining lease term (years)	9.73		8.73
Weighted average discount rate	2.7	%	4.1	%

Maturities of lease liabilities as of March 28, 2021 were as follows:

(In thousands)	Operating Leases
Fiscal 2022	$	1,831
Fiscal 2023	1,707
Fiscal 2024	1,355
Fiscal 2025	1,304
Fiscal 2026	1,251
Thereafter	6,280
Total	$	13,728
Less: Interest	(1,910)
Present value of lease liabilities	$	11,818