CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Dec. 27, 2025	Dec. 28, 2024
OPERATING ACTIVITIES
Net income	$ 148,090	$ 134,706
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	16,663	14,304
Provision for credit losses	(176)	(874)
Deferred income taxes	9,170	17
Stock-based compensation expense	10,265	6,653
Non-cash interest income, net	(582)	(787)
Gain on sale or retirement of property, plant and equipment, net	(44)	(19)
Gain on investments and sale of loans, net	(3,671)	(1,901)
Changes in operating assets and liabilities, net of acquisitions
Accounts receivable	5,225	(14,762)
Proceeds received on consumer loans receivable	42,757	47,026
Inventories	10,010	(1,960)
Prepaid expenses and other current assets	4,560	4,997
Accounts payable, accrued expenses and other liabilities	7,391	9,141
Net cash provided by operating activities	200,119	139,851
INVESTING ACTIVITIES
Purchases of property, plant and equipment	(27,360)	(15,288)
Payments for acquisitions, net	(171,446)	0
Proceeds from sale of property, plant and equipment	158	194
Purchases of investments	(18,952)	(21,588)
Proceeds from sale of investments	17,748	22,706
Net cash used in investing activities	(199,852)	(13,976)
FINANCING ACTIVITIES
Payments for taxes on stock option exercises and releases of equity awards	(4,949)	(3,425)
Proceeds from exercise of stock options	1,884	2,130
Payments on finance leases and other secured financings	(184)	(261)
Payments for common stock repurchases	(129,891)	(114,446)
Net cash used in financing activities	(133,140)	(116,002)
Net (decrease) increase in cash, cash equivalents and restricted cash	(132,873)	9,873
Cash, cash equivalents and restricted cash at beginning of the fiscal year	375,345	368,753
Cash, cash equivalents and restricted cash at end of the period	242,472	378,626
Supplemental disclosures of cash flow information
Cash paid for income taxes	29,676	34,173
Cash paid for interest	205	30
Payable due for acquisition of a business
Payable due for acquisition of a business	3,358	0
Fair value of contingent acquisition purchase price receivable	4,838	0
Change in GNMA loans eligible for repurchase	347	730
Consumer Loans Receivable
Changes in operating assets and liabilities, net of acquisitions
Loans receivable originated	(43,040)	(54,155)
Commercial Loans Receivable
Changes in operating assets and liabilities, net of acquisitions
Loans receivable originated	(117,299)	(87,543)
Principal payments received on loans receivable	$ 110,800	$ 85,008

CAVCO INDUSTRIES, INC. 10-Q