Company: CVCO
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047849
Chunk: 28

Company: CAVCO INDUSTRIES, INC.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 28
---
 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 to costs and expenses17,023 13,990 33,648 26,081 Payments and deductions(15,829)(12,724)(31,260)(24,718)Balance at end of period$35,577 $33,081 $35,577 $33,081 

9

11. Other Liabilities

The following table summarizes secured financings and other obligations (in thousands):September 27,2025March 29,2025Finance lease liabilities$6,045 $6,086 Other secured financing1,535 1,594 7,580 7,680 Less current portion included in Accrued expenses and other current liabilities(322)(321)$7,258 $7,359 

12. Debt

We are party to an Amended and Restated Credit Agreement among the Company, Bank of America, N.A., as administrative agent, swing line lender, letter of credit issuer, and the guarantors party thereto (the "Credit Agreement"), providing for a $75 million revolving credit facility (the "Revolving Credit Facility"), including a $10 million letter of credit sub-facility. The Revolving Credit Facility is guaranteed, on a joint and several basis, by certain of the Company's subsidiaries. Subject to certain conditions and requirements set forth in the Credit Agreement, including the availability of additional lender commitments, the Company may request from time to time