Company: CVCO
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047849
Chunk: 53

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 8
Chunk 53
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5 and March 29, 2025, there were no commercial loans considered nonperforming. The following table disaggregates the outstanding principal balance of our commercial loans receivable by fiscal year of origination (in thousands):September 27, 202520262025202420232022PriorTotalPerforming$55,071 $34,448 $15,641 $2,201 $392 $285 $108,038 March 29, 202520252024202320222021PriorTotalPerforming$66,843 $24,215 $7,006 $1,014 $1,219 $— $100,297 As of September 27, 2025, our outstanding commercial loans receivable principal balance was concentrated primarily in California (14%), New York (14%), Arizona (14%), and North Carolina (11%). As of March 29, 2025, concentrations were 16% in California and 17% in New York.We had concentrations with one independent third-party and its affiliates that equaled 11% and 10% of the net commercial loans receivable principal balance outstanding, all of which was secured, as of September 27, 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):September 27,2025March 29,2025Salaries, wages and benefits$49,184 $45,640 Customer deposits46,449 46,934 Estimated warranties35,577 33,189 Unearned insurance premiums34,010 33,863 Accrued volume rebates29,194 21,208 Accrued insurance12,689 13,094 Insurance loss reserves10,260 16,201 Other56,612 55,842 $273,975 $265,971 

10. Warranties

Activity in the liability for estimated warranties was as follows (in thousands):Three Months EndedSix Months EndedSeptember 27,2025September 28,2024September 27,2025September 28,2024Balance at beginning of period$34,383 $31,815 $33,189 $31,718 Charged