Company: CVCO
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000278166-25-000128
Chunk: 51

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 8
Chunk 51
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,006 $1,014 $1,219 $— $100,297 As of June 28, 2025 and March 29, 2025, approximately 16% of our outstanding commercial loans receivable principal balance was concentrated in California. As of June 28, 2025 and March 29, 2025, approximately 14% and 17%, respectively, was concentrated in New York. As of June 28, 2025, Arizona and North Carolina each had approximately 12% concentrations.We had concentrations with one independent third-party and its affiliates that equaled 12% and 10% of the net commercial loans receivable principal balance outstanding, all of which was secured, as of June 28, 2025 and March 29, 2025, respectively. The risks created by these concentrations have been considered in the determination of the adequacy of the allowance for loan losses.

9. Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following (in thousands):June 28,2025March 29,2025Salaries, wages and benefits$47,431 $45,640 Customer deposits47,145 46,934 Estimated warranties34,383 33,189 Unearned insurance premiums34,322 33,863 Accrued volume rebates27,660 21,208 Accrued insurance13,239 13,094 Insurance loss reserves13,118 16,201 Other57,905 55,842 $275,203 $265,971 

9

10. Warranties

Activity in the liability for estimated warranties was as follows (in thousands):Three Months EndedJune 28,2025June 29,2024Balance at beginning of period$33,189 $31,718 Charged to costs and expenses16,625 12,091 Payments and deductions(15,431)(11,994)Balance at end of period$34,383 $31,815 

11. Other Liabilities

The following table summarizes secured financings and other obligations (in thousands):June 28,2025March 29,2025Finance lease liabilities$6,066 $6,086 Other secured financing1,567 1,594 7,633 7,680 Less current portion included in Accrued expenses and other current liabilities(317)(