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Accounts Receivable
6 Months Ended
Oct. 02, 2016
Transfers and Servicing [Abstract]  
Accounts Receivable
Accounts Receivable
The Company assumed an agreement with a financial institution to sell certain of its trade receivables from customers with limited, non-credit-related recourse provisions as part of an acquisition during the quarter ended January 3, 2016. The agreement was subsequently terminated on September 30, 2016. Total receivables sold under the factoring facility during the three and six months ended October 2, 2016 was $7.7 million and $26.2 million, respectively. Total collections from sale of receivables and from deferred purchase payment during the quarter ended October 2, 2016 were $14.8 million and $1.5 million, respectively. Total collections from sale of receivables and from deferred purchase payment during the six months ended October 2, 2016 were $33.3 million and $3.4 million, respectively. Under the terms of the factoring agreement, the total available amount of the factoring facility as of April 3, 2016 was $1.9 million. The sales of accounts receivable in accordance with the factoring agreement are reflected as a reduction of Accounts Receivable, net in the Condensed Consolidated Balance Sheets as they meet the applicable criteria of ASC 860, Transfers and Servicing. Collections of deferred purchase payment are included in the change in accounts receivable under the operating activities section of the Condensed Consolidated Statements of Cash Flows. The amount due from the factoring institution was $0.8 million as of April 3, 2016, and was shown in Prepayments and Other Current Assets in the Condensed Consolidated Balance Sheets. As the result of terminating the agreement, the total available amount of the factoring facility and the amount due from the factoring institution were zero as of October 2, 2016. The Company paid factoring fees associated with the sale of receivables based on the value of the receivables sold. Such fees are not material for the three and six months ended October 2, 2016.