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Segment Information
 12 Months Ended
Apr. 25, 2020
Segment Reporting [Abstract]  
Segment Information Segment Information
Our reportable operating segments are the Upholstery segment, the Casegoods segment and the Retail segment.
Upholstery Segment. Our Upholstery segment is our largest business segment and consists primarily of two operating segments: La-Z-Boy, our largest operating segment, and the operating segment for our England subsidiary. The Upholstery segment also includes our international wholesale businesses. We aggregate these operating segments into one reportable segment because they are economically similar and because they meet the other aggregation criteria for determining reportable segments. Our Upholstery segment manufactures and imports upholstered furniture such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans and sleeper sofas. The Upholstery segment sells directly to La-Z-Boy Furniture Galleries® stores, operators of La-Z-Boy Comfort Studio® locations and England Custom Comfort Center locations, major dealers, and a wide cross-section of other independent retailers.
Casegoods Segment. Our Casegoods segment consists of one operating segment that sells furniture under three brands: American Drew®, Hammary®, and Kincaid®. The Casegoods segment is an importer, marketer, and distributor of casegoods (wood) furniture such as bedroom sets, dining room sets, entertainment centers and occasional pieces, and also manufactures some coordinated upholstered furniture. The Casegoods segment sells directly to major dealers, as well as La-Z-Boy Furniture Galleries® stores, and a wide cross-section of other independent retailers.
Retail Segment. Our Retail segment consists of one operating segment comprised of our 154 company-owned La-Z-Boy Furniture Galleries® stores. The Retail segment sells primarily upholstered furniture, in addition to some casegoods and other accessories, to end consumers through these stores.
Corporate & Other. Corporate & Other includes the shared costs for corporate functions, including human resources, information technology, finance and legal, in addition to revenue generated through royalty agreements with companies licensed to use the La-Z-Boy® brand name on various products. We consider our corporate functions to be other business activities and have aggregated them with our other insignificant operating segments including our global trading company in
Hong Kong and Joybird, an e-commerce retailer that manufactures upholstered furniture such as sofas, loveseats, chairs, ottomans, sleeper sofas and beds, and also imports casegoods (wood) furniture such as occasional tables and other accessories. Joybird sells to end consumers primarily online through its website, www.joybird.com. None of the operating segments included in Corporate & Other meet the requirements of reportable segments.
The accounting policies of the operating segments are the same as those described in Note 1, Accounting Policies. We account for intersegment revenue transactions between our segments consistent with independent third-party transactions, that is, at current market prices. As a result, the manufacturing profit related to sales to our Retail segment is included within the appropriate Upholstery or Casegoods segment. Operating income realized on intersegment revenue transactions is therefore generally consistent with the operating income realized on our revenue from independent third-party transactions. Segment operating income is based on profit or loss from operations before interest expense, interest income, other expense, net and income taxes. Identifiable assets are cash and equivalents, notes and accounts receivable, net inventories, net property, plant and equipment, right-of-use lease assets, goodwill and other intangible assets. Our unallocated assets include deferred income taxes, corporate assets (including a portion of cash and equivalents), and various other assets. Sales are attributed to countries on the basis of the customer's location.

The following table presents sales and operating income (loss) by segment:
 
 
Fiscal Year Ended
 
 
(52 weeks)
 
(52 weeks)
 
(52 weeks)
(Amounts in thousands)
 
4/25/2020
 
4/27/2019
 
4/28/2018
Sales
 
 
 
 
 
 
Upholstery segment:
 
 
 
 
 
 
Sales to external customers
 
$
941,228

 
$
1,016,957

 
$
1,010,097

Intersegment sales
 
263,031

 
251,285

 
217,266

Upholstery segment sales
 
1,204,259

 
1,268,242

 
1,227,363

 
 
 
 
 
 
 
Casegoods segment:
 
 
 
 
 
 
Sales to external customers
 
85,402

 
95,677

 
95,919

Intersegment sales
 
20,633

 
18,796

 
15,474

Casegoods segment sales
 
106,035

 
114,473

 
111,393

 
 
 
 
 
 
 
Retail segment sales
 
598,554

 
570,201

 
474,613

 
 
 
 
 
 
 
Corporate and Other:
 
 
 
 
 
 
Sales to external customers
 
78,798

 
62,566

 
3,318

Intersegment sales
 
10,294

 
11,446

 
9,421

Corporate and Other sales
 
89,092

 
74,012

 
12,739

 
 
 
 
 
 
 
Eliminations
 
(293,958
)
 
(281,527
)
 
(242,161
)
Consolidated sales
 
$
1,703,982

 
$
1,745,401

 
$
1,583,947

 
 
 
 
 
 
 
Operating Income (Loss)
 
 
 
 
 
 
Upholstery segment
 
$
134,691

 
$
127,906

 
$
130,349

Casegoods segment
 
7,749

 
12,589

 
11,641

Retail segment
 
48,256

 
37,922

 
20,709

Corporate and Other
 
(71,934
)
 
(48,743
)
 
(33,330
)
Consolidated operating income
 
118,762

 
129,674

 
129,369

Interest expense
 
(1,291
)
 
(1,542
)
 
(538
)
Interest income
 
2,785

 
2,103

 
1,709

Pension termination refund (charge)
 
1,900

 
(32,671
)
 
—

Other expense, net
 
(6,983
)
 
(2,237
)
 
(1,650
)
Income before income taxes
 
$
115,173

 
$
95,327

 
$
128,890


The following tables present additional financial information by segment and location.
 
 
Fiscal Year Ended
 
 
(52 weeks)
 
(52 weeks)
 
(52 weeks)
(Amounts in thousands)
 
4/25/20
 
4/27/19
 
4/28/18
Depreciation and Amortization
 
 
 
 
 
 
Upholstery segment
 
$
16,398

 
$
16,122

 
$
15,823

Casegoods segment
 
1,214

 
1,143

 
993

Retail segment
 
4,271

 
4,007

 
3,758

Corporate and Other
 
9,309

 
9,875

 
11,193

Consolidated depreciation and amortization
 
$
31,192

 
$
31,147

 
$
31,767

 
 
 
 
 
 
 
Capital Expenditures
 
 
 
 
 
 
Upholstery segment
 
$
35,850

 
$
37,114

 
$
30,049

Casegoods segment
 
752

 
1,949

 
711

Retail segment
 
7,597

 
4,604

 
3,377

Corporate and Other
 
1,836

 
4,766

 
2,200

Consolidated capital expenditures
 
$
46,035

 
$
48,433

 
$
36,337

 
 
 
 
 
 
 
Sales by Country
 
 
 
 
 
 
United States
 
89
%
 
89
%
 
87
%
Canada
 
6
%
 
6
%
 
7
%
Other
 
5
%
 
5
%
 
6
%
Total
 
100
%
 
100
%
 
100
%
(Amounts in thousands)
 
4/25/20
 
4/27/19
Assets
 
 
 
 
Upholstery segment
 
$
479,744

 
$
398,469

Casegoods segment
 
51,551

 
55,295

Retail segment
 
495,970

 
210,863

Unallocated assets
 
407,624

 
395,163

Consolidated assets
 
$
1,434,889

 
$
1,059,790

 
 
 
 
 
Long-Lived Assets by Geographic Location
 
 
 
 
Domestic
 
$
662,623

 
$
389,892

International
 
48,852

 
27,529

Consolidated long-lived assets
 
$
711,475

 
$
417,421