XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.21.2

Goodwill and Other Intangible Assets | 3 Months Ended
--- | ---
Jul. 24, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets We have goodwill on our consolidated balance sheet as follows:
Reportable Segment/Unit |  | Reporting Unit |  | Related Acquisition
Wholesale Segment |  | La-Z-Boy United Kingdom |  | Wholesale business in the United Kingdom and Ireland
Retail Segment |  | Retail |  | La-Z-Boy Furniture Galleries® stores
Corporate & Other |  | Joybird |  | Joybird
The following table summarizes changes in the carrying amount of our goodwill by reportable segment:
(Unaudited, amounts in thousands) |  | Wholesale Segment |  | Retail Segment |  | Corporate and Other |  | Total Goodwill
Balance at April 24, 2021 |  | $ | 13,052 |  |  | $ | 107,316 |  |  | $ | 55,446 |  |  | $ | 175,814 |
Translation adjustment |  | (116) |  |  | (27) |  |  | — |  |  | (143) |
Balance at July 24, 2021 |  | $ | 12,936 |  |  | $ | 107,289 |  |  | $ | 55,446 |  |  | $ | 175,671 |
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 summarizes changes in our intangible assets:
(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 24, 2021 |  | $ | 1,155 |  |  | $ | 4,205 |  |  | $ | 22,507 |  |  | $ | 2,564 |  |  | $ | 30,431 |
Amortization |  | — |  |  | (200) |  |  | — |  |  | (61) |  |  | (261) |
Translation adjustment |  | — |  |  | — |  |  | (20) |  |  | (21) |  |  | (41) |
Balance at July 24, 2021 |  | $ | 1,155 |  |  | $ | 4,005 |  |  | $ | 22,487 |  |  | $ | 2,482 |  |  | $ | 30,129 |
We test indefinite-lived intangibles and goodwill for impairment on an annual basis in the fourth quarter of each fiscal year, and more frequently if events or changes in circumstances indicate that an asset might be impaired. We test amortizable intangible assets for impairment if events or changes in circumstances indicate that the assets might be impaired.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration