Company: CVCO
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000278166-25-000128
Chunk: 32

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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1 million and $16.3 million, respectively. For the three months ended June 28, 2025 and the three months ended June 29, 2024, we recognized insignificant non-cash gains on outstanding IRLCs.Forward Sales Commitments. As of June 28, 2025 and March 29, 2025, we had $18.7 million and $20.8 million in outstanding forward sales commitments for sales of mortgage backed securities and whole loan commitments (collectively, the "Commitments"), respectively. During the three months ended June 28, 2025, we recognized insignificant non-cash gains on Commitments. During the three months ended June 29, 2024, we recognized insignificant non-cash losses.Legal Matters. We are party to certain lawsuits in the ordinary course of business. Based on management's present knowledge of the facts and (in certain cases) advice of outside counsel, management does not believe that loss contingencies arising from pending matters are likely to have a material adverse effect on our consolidated financial position, liquidity or results of operations after taking into account any existing reserves, which reserves are included in Accrued expenses and other current liabilities on the Consolidated Balance Sheets. However, future events or circumstances that may currently be unknown to management will determine whether the resolution of pending or threatened litigation or claims will ultimately have a material effect on our consolidated financial position, liquidity or results of operations in any future reporting periods.

15. Stockholders' Equity 

The following tables represent changes in Stockholders' equity during the three months ended June 28, 2025 and June 29, 2024, respectively (dollars in thousands):Treasury stockAdditional paid-in capitalRetained earningsAccumulated other comprehensive income TotalCommon StockSharesAmountBalance, March 29, 20259,436,732 $94 $(424,624)$290,940 $1,198,163 $9 $1,064,582 Net income— — — — 51,642 — 51,642 Other comprehensive income, net— — — — — 96 96 Net issuance of common stock under stock incentive plans16,631 1 — (4,682)— — (4,681)Stock-based compensation— — — 3,563 — — 3,563 Common stock repurchases— — (50,369)—