Note 15 - Lease Financing Obligation

12 Months Ended

Mar. 30, 2014

Disclosure Text Block Supplement [Abstract]

Debt and Capital Leases Disclosures [Text Block]

NOTE 15.    LEASE FINANCING OBLIGATION

We have acquired engineering design tools under capital leases. We acquired design tools of $0.9 million in July 2012 under a three-year license, $4.5 million in December 2011 under a three-year license, $5.8 million in October 2011 under a three-year license, $1.0 million in June 2010 under a three-year license, $1.3 million in December 2009 under a 28-month license, and $1.1 million in July 2009 under a three-year license, all of which were accounted for as capital leases and recorded in the property, plant and equipment, net line item in the consolidated balance sheets. The obligations related to the design tools were included in other current liabilities and long-term lease financing obligations in our consolidated balance sheets as of March 30, 2014 and April 1, 2012, respectively. The effective interest rates for the design tools range from 2.0% to 7.25%.

Amortization expense related to the design tools, which was recorded using the straight-line method over the remaining useful life for the periods indicated below was as follows (in thousands):

	Fiscal Years Ended
	March 30, 2014		March 31, 2013		April 1, 2012
Amortization expense	$	3,294	$	3,523	$	3,706

Future minimum lease and sublease income payments for the lease financing obligations as of March 30, 2014, which all expire prior to 2019, are as follows (in thousands):

Lease financing

Fiscal Years	Design tools
2015	$	2,741
2016		59
2017		10
2018		7
Total minimum lease payments		2,817
Less: amount representing interest		76
Present value of future minimum lease payments		2,741
Less: short-term lease financing obligations		2,671
Long-term lease financing obligations	$	70

Interest expense for the design tools lease financing obligations for the periods indicated were as follow (in thousands): 

	Fiscal Years Ended
	March 30, 2014		March 31, 2013		April 1, 2012
Interest expense – design tools	$	155	$	143	$	210

In the course of our business, we enter into arrangements accounted for as operating leases related to the licensing of engineering design software and the rental of office space. Rent expenses for all operating leases for the periods indicated below were as follows (in thousands):

	Fiscal Years Ended
	March 30, 2014		March 31, 2013		April 1, 2012
Rent expense	$	1,289	$	616	$	2,121

Our future minimum lease payments for the lease operating obligations, which all expire prior to 2019, as of March 30, 2014 are as follows (in thousands):

Operating lease

Fiscal Years	Facilities
2015	$	688
2016		463
2017		152
2018		21
Total future minimum lease payments	$	1,324