Company: CVCO
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0000278166-25-000007
Chunk: 52

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 8
Chunk 52
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2024-03, as clarified by ASU 2025-01, is effective for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Both early adoption and retrospective application are permitted. The Company is currently evaluating the impact that the adoption of these standards will have on its Consolidated Financial Statements.

3. Revenue from Contracts with Customers

The following table summarizes Net revenue disaggregated by reportable segment and source (in thousands):Three Months EndedNine Months Ended December 28, 2024December 30, 2023December 28,2024December 30,2023Factory-built housing     Home sales$471,998 $400,633 $1,378,103 $1,250,417      Delivery, setup and other revenues28,862 26,306 67,148 67,697 500,860 426,939 1,445,251 1,318,114 Financial services     Insurance agency commissions received from third-party insurance companies1,246 1,229 3,920 3,145      All other sources19,934 18,601 57,929 53,415 21,180 19,830 61,849 56,560 $522,040 $446,769 $1,507,100 $1,374,674 

4. Investments

Investments consisted of the following (in thousands):December 28,2024March 30,2024Available-for-sale debt securities$21,783 $18,669 Marketable equity securities7,434 11,961 Non-marketable equity investments5,132 4,956 34,349 35,586 Less short-term investments(16,062)(18,270)$18,287 $17,316 

5

The amortized cost and fair value of our investments in available-for-sale debt securities, by security type, are shown in the table below (in thousands):December 28, 2024March 30, 2024AmortizedCostFairValueAmortized CostFairValueResidential mortgage-backed securities$4,146 $4,093 $2,933 $2,865 State and political subdivision debt securities6,565 6,515 5,041 4,930 Corporate debt securities11