Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Jan. 23, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

The activity in accumulated other comprehensive income (loss) for the quarters ended January 23, 2021, and January 25, 2020, is as follows:


(Unaudited, amounts in thousands)	Translation adjustment		Change in fair value of cash flow hedge		Unrealized gain (loss) on marketable securities		Net pension amortization and net actuarial loss		Accumulated other comprehensive income (loss)
Balance at October 24, 2020	$	997	$	—	$	426	$	(5,380)	$	(3,957)
Changes before reclassifications	1,924		—		(27)		—		1,897


Amounts reclassified to net income	—		—		9		86		95
Tax effect	—		—		4		(21)		(17)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	1,924		—		(14)		65		1,975
Balance at January 23, 2021	$	2,921	$	—	$	412	$	(5,315)	$	(1,982)

Balance at October 26, 2019	$	1,345	$	—	$	418	$	(4,231)	$	(2,468)
Changes before reclassifications	50		—		41		—		91


Amounts reclassified to net income	—		—		(20)		55		35
Tax effect	—		—		(5)		(14)		(19)
Other comprehensive income attributable to La-Z-Boy Incorporated	50		—		16		41		107
Balance at January 25, 2020	$	1,395	$	—	$	434	$	(4,190)	$	(2,361)

The activity in accumulated other comprehensive income (loss) for the nine months ended January 23, 2021, and January 25, 2020, is as follows:


(Unaudited, amounts in thousands)	Translation adjustment		Change in fair value of cash flow hedge		Unrealized gain (loss) on marketable securities		Net pension amortization and net actuarial loss		Accumulated other comprehensive income (loss)
Balance at April 25, 2020	$	(1,891)	$	—	$	449	$	(5,510)	$	(6,952)
Changes before reclassifications	4,812		—		(11)		—		4,801


Amounts reclassified to net income	—		—		(38)		259		221
Tax effect	—		—		12		(64)		(52)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	4,812		—		(37)		195		4,970
Balance at January 23, 2021	$	2,921	$	—	$	412	$	(5,315)	$	(1,982)

Balance at April 27, 2019	$	50	$	87	$	6	$	(3,605)	$	(3,462)
Changes before reclassifications	1,345		—		253		—		1,598
Reclassification of certain income tax effects (1)	—		(97)		258		(708)		(547)

Amounts reclassified to net income	—		14		(28)		164		150
Tax effect	—		(4)		(55)		(41)		(100)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	1,345		(87)		428		(585)		1,101
Balance at January 25, 2020	$	1,395	$	—	$	434	$	(4,190)	$	(2,361)

(1)Income tax effects of the Tax Cuts and Jobs Act are reclassified from AOCI to retained earnings due to adoption of ASU 2018-02.

We reclassified the unrealized gain/(loss) on marketable securities from accumulated other comprehensive loss to net income through other income (expense), net, reclassified the change in fair value of cash flow hedges to net income through cost of sales, and reclassified the net pension amortization to net income through other income (expense), net.

The components of non-controlling interest were as follows:


	Quarter Ended				Nine Months Ended
(Unaudited, amounts in thousands)	1/23/21		1/25/20		1/23/21		1/25/20
Balance as of the beginning of the period	$	7,873	$	15,543	$	15,553	$	14,468
Net income	357		204		607		434
Other comprehensive income (loss)	362		(162)		939		683
Dividends distributed to joint venture minority partners	—		—		(8,507)		—
Balance as of the end of the period	$	8,592	$	15,585	$	8,592	$	15,585