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Segment Information
 12 Months Ended
Apr. 24, 2021
Segment Reporting [Abstract]  
Segment Information Segment Information
Our reportable operating segments include the Wholesale segment and the Retail segment. Effective in the first quarter of fiscal 2021, in order to better align with the manner in which we view and manage the business, coupled with economic and customer channel similarities, we revised our reportable operating segments by aggregating the former Upholstery segment with the former Casegoods segment to form the newly combined Wholesale segment. The change in our reportable operating segments reflects how the Company evaluates financial information used to make operating decisions. There were no changes to our Retail operating segment or Corporate & Other as part of this revision. Prior period results disclosed in the tables below have been revised to reflect these changes.

Wholesale Segment. Our Wholesale segment consists primarily of three operating segments: La-Z-Boy, our largest operating segment, our England subsidiary, and our casegoods operating segment that sells furniture under three brands: American Drew®, Hammary and Kincaid®. The Wholesale segment also includes our international wholesale businesses. We aggregate these operating segments into one reportable segment because they are economically similar and meet the other aggregation criteria for determining reportable segments. Our Wholesale segment manufactures and imports upholstered furniture, such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans and sleeper sofas and imports casegoods (wood) furniture such as occasional pieces, bedroom sets, dining room sets and entertainment centers. The Wholesale segment sells directly to La-Z-Boy Furniture Galleries® stores, operators of La-Z-Boy Comfort Studio® locations, England Custom Comfort Center locations, major dealers, and a wide cross-section of other independent retailers.

Retail Segment. Our Retail segment consists of one operating segment comprised of our 159 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 the end consumer 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 Wholesale 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, pension termination refunds (charges), other income (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)4/24/20214/25/20204/27/2019
Sales
Wholesale segment:
Sales to external customers$1,006,377 $1,026,630 $1,112,634 
Intersegment sales294,921 283,664 270,081 
Wholesale segment sales1,301,298 1,310,294 1,382,715 
Retail segment sales612,906 598,554 570,201 
Corporate and Other:
Sales to external customers114,961 78,798 62,566 
Intersegment sales12,409 10,294 11,446 
Corporate and Other sales127,370 89,092 74,012 
Eliminations(307,330)(293,958)(281,527)
Consolidated sales$1,734,244 $1,703,982 $1,745,401 
Operating Income (Loss)
Wholesale segment$134,312 $142,440 $140,495 
Retail segment46,724 48,256 37,922 
Corporate and Other(44,300)(71,934)(48,743)
Consolidated operating income136,736 118,762 129,674 
Interest expense(1,390)(1,291)(1,542)
Interest income1,101 2,785 2,103 
Pension termination refund (charge)— 1,900 (32,671)
Other income (expense), net9,466 (6,983)(2,237)
Income before income taxes$145,913 $115,173 $95,327 
The following tables present additional financial information by segment and location.
Fiscal Year Ended
(52 weeks)(52 weeks)(52 weeks)
(Amounts in thousands)4/24/20214/25/20204/27/2019
Depreciation and Amortization
Wholesale segment$19,029 $17,612 $17,265 
Retail segment4,894 4,271 4,007 
Corporate and Other9,098 9,309 9,875 
Consolidated depreciation and amortization$33,021 $31,192 $31,147 
Capital Expenditures
Wholesale segment$27,303 $36,602 $39,063 
Retail segment8,958 7,597 4,604 
Corporate and Other1,699 1,836 4,766 
Consolidated capital expenditures$37,960 $46,035 $48,433 
Sales by Country
United States91 %89 %89 %
Canada5 %6 %6 %
Other4 %5 %5 %
Total100 %100 %100 %

(Amounts in thousands)4/24/20214/25/2020
Assets
Wholesale segment$720,721 $531,295 
Retail segment546,299 495,970 
Unallocated assets519,302 407,624 
Consolidated assets$1,786,322 $1,434,889 
Long-Lived Assets by Geographic Location
Domestic$713,525 $662,623 
International55,714 48,852 
Consolidated long-lived assets$769,239 $711,475