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Product Warranties | 3 Months Ended
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Jul. 24, 2021
Product Warranties Disclosures [Abstract] |
Product Warranties | Product Warranties We accrue an estimated liability for product warranties when we recognize revenue on the sale of warrantied products. We estimate future warranty claims on product sales based on our historical claims experience and periodically adjust the provision to reflect changes in actual experience. We incorporate repair costs into our liability estimates, including materials, labor and overhead amounts necessary to perform repairs, and any costs associated with delivering repaired product to our customers. Over 90% of our warranty liability relates to our Wholesale reportable segment as we generally warrant our products against defects for one year on fabric and leather, from one to ten years on cushions and padding, and provide a limited lifetime warranty on certain mechanisms and frames. Our Wholesale segment warranties cover labor costs relating to our parts for one year. We provide a limited lifetime warranty against defects on a majority of Joybird products, which are a part of our Corporate and Other results. For all our manufacturer warranties, the warranty period begins when the consumer receives our product. We use considerable judgment in making our estimates, and we record differences between our actual and estimated costs when the differences are known. A reconciliation of the changes in our product warranty liability is as follows:
|  | Quarter Ended |  |
(Unaudited, amounts in thousands) |  | 7/24/2021 (1) |  | 7/25/2020 |  |  |  |
Balance as of the beginning of the period |  | $ | 23,636 |  |  | $ | 23,255 |  |  |  |  |
Accruals during the period |  | 7,214 |  |  | 3,828 |  |  |  |  |
Settlements during the period |  | (6,417) |  |  | (3,960) |  |  |  |  |
Balance as of the end of the period |  | $ | 24,433 |  |  | $ | 23,123 |  |  |  |  |
(1)$14.8 million and $14.4 million is recorded in accrued expenses and other current liabilities as of July 24, 2021 and April 24, 2021, respectively, while the remainder is included in other long-term liabilities. We recorded accruals during the periods presented in the table above, primarily to reflect charges that relate to warranties issued during the respective periods.

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- Definition The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 460 -URI http://asc.fasb.org/topic&trid=2155896 + Details
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