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Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Jan. 23, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

The following is a roll-forward of goodwill for the nine months ended January 23, 2021:

(Unaudited, amounts in thousands)						Wholesale Segment						Retail Segment						Corporate and Other						Total Goodwill
Balance at April 25, 2020						$	11,630					$	93,941					$	55,446					$	161,017
Acquisitions						—						12,936						—						12,936
Translation adjustment						1,245						362						—						1,607
Balance at January 23, 2021						$	12,875					$	107,239					$	55,446					$	175,560

Schedule of other intangible assets - indefinite-lived

We have intangible assets on our consolidated balance sheet as follows:

Reportable Segment/Unit

Intangible Asset

Useful Life

Wholesale Segment

Primarily acquired customer relationships from our acquisition of the wholesale business in the United Kingdom and Ireland

Amortizable over useful lives that do not exceed 15 years

Wholesale Segment

American Drew® trade name

Indefinite-lived

Retail Segment

Reacquired rights to own and operate La-Z-Boy Furniture Galleries® stores

Indefinite-lived

Corporate & Other

Joybird® trade name

Amortizable over eight-year useful life

The following is a roll-forward of our other intangible assets for the nine months ended January 23, 2021:

(Unaudited, amounts in thousands)						Indefinite- Lived Trade Names						Finite- Lived Trade Name						Indefinite- Lived Reacquired Rights						Other Intangible Assets						Total Other Intangible Assets
Balance at April 25, 2020						$	1,155					$	5,003					$	19,996					$	2,499					$	28,653
Acquisitions						—						—						2,182						—						2,182
Amortization						—						(599)						—						(168)						(767)
Translation adjustment						—						—						271						258						529
Balance at January 23, 2021						$	1,155					$	4,404					$	22,449					$	2,589					$	30,597

Schedule of other intangible assets - finite-lived

We have intangible assets on our consolidated balance sheet as follows:

Reportable Segment/Unit

Intangible Asset

Useful Life

Wholesale Segment

Primarily acquired customer relationships from our acquisition of the wholesale business in the United Kingdom and Ireland

Amortizable over useful lives that do not exceed 15 years

Wholesale Segment

American Drew® trade name

Indefinite-lived

Retail Segment

Reacquired rights to own and operate La-Z-Boy Furniture Galleries® stores

Indefinite-lived

Corporate & Other

Joybird® trade name

Amortizable over eight-year useful life

The following is a roll-forward of our other intangible assets for the nine months ended January 23, 2021:

(Unaudited, amounts in thousands)						Indefinite- Lived Trade Names						Finite- Lived Trade Name						Indefinite- Lived Reacquired Rights						Other Intangible Assets						Total Other Intangible Assets
Balance at April 25, 2020						$	1,155					$	5,003					$	19,996					$	2,499					$	28,653
Acquisitions						—						—						2,182						—						2,182
Amortization						—						(599)						—						(168)						(767)
Translation adjustment						—						—						271						258						529
Balance at January 23, 2021						$	1,155					$	4,404					$	22,449					$	2,589					$	30,597

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- References

No definition available.

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Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275

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- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

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- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 3
-Subparagraph (b),(d)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

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