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Income Tax (Tables) | 12 Months Ended
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Apr. 29, 2017
Income Taxes |
Schedule of income before income taxes for continuing operations |
(Amounts in thousands) |  | 4/29/2017 |  | 4/30/2016 |  | 4/25/2015 |
United States |  | $ | 122,196 |  | $ | 115,750 |  | $ | 96,605 |
Foreign |  |  | 8,544 |  |  | 9,293 |  |  | 9,023 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | $ | 130,740 |  | $ | 125,043 |  | $ | 105,628 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Components of income tax expense (benefit) |
(Amounts in thousands) |  | 4/29/2017 |  | 4/30/2016 |  | 4/25/2015 |
Federal: |  |  |  |  |  |  |  |  |  |
—current |  | $ | 35,606 |  | $ | 32,403 |  | $ | 28,887 |
—deferred |  |  | 2,349 |  |  | 3,559 |  |  | 406 |
State: |  |  |  |  |  |  |  |  |  |
—current |  |  | 5,194 |  |  | 4,750 |  |  | 4,573 |
—deferred |  |  | (1,703 | ) |  | 859 |  |  | 637 |
Foreign: |  |  |  |  |  |  |  |  |  |
—current |  |  | 2,388 |  |  | 2,345 |  |  | 2,281 |
—deferred |  |  | (78 | ) |  | 164 |  |  | 170 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total income tax expense |  | $ | 43,756 |  | $ | 44,080 |  | $ | 36,954 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reconciliation of effective tax rate |
|  | Fiscal Year Ended |
(% of income from continuing operations before income taxes) |
| 4/29/2017 |  | 4/30/2016 |  | 4/25/2015 |
Statutory tax rate |  |  | 35.0 | % |  | 35.0 | % |  | 35.0 | %
Increase (reduction) in income taxes resulting from: |  |  |  |  |  |  |  |  |  |
State income taxes, net of federal benefit |  |  | 2.7 |  |  | 3.4 |  |  | 3.5 |
U.S. manufacturing benefit |  |  | (2.4 | ) |  | (2.5 | ) |  | (2.1 | )
Change in valuation allowance |  |  | (1.0 | ) |  | (0.3 | ) |  | (0.4 | )
Miscellaneous items |  |  | (0.8 | ) |  | (0.3 | ) |  | (1.0 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Effective tax rate |  |  | 33.5 | % |  | 35.3 | % |  | 35.0 | %
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Components of deferred tax assets and (liabilities) |
(Amounts in thousands) |  | 4/29/2017 |  | 4/30/2016 |
Assets |  |  |  |  |  |  |
Deferred and other compensation |  | $ | 26,689 |  | $ | 25,032 |
State income tax—net operating losses, credits and other |  |  | 4,927 |  |  | 5,571 |
Warranty |  |  | 8,261 |  |  | 7,817 |
Rent |  |  | 4,768 |  |  | 4,184 |
Workers' compensation |  |  | 3,707 |  |  | 3,870 |
Employee benefits |  |  | 3,752 |  |  | 3,212 |
Other |  |  | 4,663 |  |  | 5,026 |
Valuation allowance |  |  | (1,786 | ) |  | (3,625 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total deferred tax assets |  |  | 54,981 |  |  | 51,087 |
Liabilities |  |  |  |  |  |  |
Property, plant and equipment |  |  | (8,453 | ) |  | (7,089 | )
Inventory |  |  | (3,052 | ) |  | (983 | )
Goodwill and other intangibles |  |  | (3,345 | ) |  | (1,332 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net deferred tax assets |  | $ | 40,131 |  | $ | 41,683 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Summary of deferred tax assets associated with loss carryforwards |
(Amounts in thousands) |  | Amount |  | Expiration |
Various U.S. state net operating losses (excluding federal tax effect) |  | $ | 5,668 |  |  | Fiscal 2018 - 2036 |
Foreign net operating losses |  |  | 58 |  |  | Indefinite |
Foreign capital losses |  |  | 17 |  |  | Indefinite |
Summary of valuation allowance by jurisdiction |
Jurisdiction |  | 4/30/2016 Valuation Allowance |  |  |  | 4/29/2017 Valuation Allowance |
(Amounts in thousands) |  | Change |
U.S. state |  | $ | 3,606 |  | $ | (1,837 | ) | $ | 1,769 |
Foreign |  |  | 19 |  |  | (2 | ) |  | 17 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total |  | $ | 3,625 |  | $ | (1,839 | ) | $ | 1,786 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Reconciliation of the beginning and ending balance of unrecognized tax benefits |
(Amounts in thousands) |  | 4/29/2017 |  | 4/30/2016 |  | 4/25/2015 |
Balance at the beginning of the period |  | $ | 1,821 |  | $ | 2,226 |  | $ | 2,972 |
Additions: |  |  |  |  |  |  |  |  |  |
Positions taken during the current year |  |  | 148 |  |  | 87 |  |  | 94 |
Reductions: |  |  |  |  |  |  |  |  |  |
Positions taken during the prior year |  |  | (4 | ) |  | (321 | ) |  | (702 | )
Decreases related to settlements with taxing authorities |  |  | (27 | ) |  | — |  |  | (25 | )
Reductions resulting from the lapse of the statute of limitations |  |  | (1,318 | ) |  | (171 | ) |  | (113 | )
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Balance at the end of the period |  | $ | 620 |  | $ | 1,821 |  | $ | 2,226 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
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