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Earnings per Share | 12 Months Ended
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Apr. 29, 2023
Earnings Per Share [Abstract] |
Earnings per Share | Earnings per Share The following is a reconciliation of the numerators and denominators we used in our computations of basic and diluted earnings per share:
|  | Fiscal Year Ended
|  | (52 weeks) |  | (53 weeks) |  | (52 weeks)
(Amounts in thousands) |  | 4/29/2023 |  | 4/30/2022 |  | 4/24/2021
Numerator (basic and diluted): |  |  |  |  |  |
Net income attributable to La-Z-Boy Incorporated |  | $ | 150,664 |  |  | $ | 150,017 |  |  | $ | 106,461 |
Income allocated to participating securities (1) |  | — |  |  | (7) |  |  | (46) |
Net income available to common Shareholders |  | $ | 150,664 |  |  | $ | 150,010 |  |  | $ | 106,415 |
Denominator: |  |  |  |  |  |
Basic weighted average common shares outstanding |  | 43,148 |  |  | 44,023 |  |  | 45,983 |
Contingent common shares |  | 91 |  |  | 79 |  |  | 171 |
Stock option dilution |  | 1 |  |  | 192 |  |  | 213 |
Diluted weighted average common shares outstanding |  | 43,240 |  |  | 44,294 |  |  | 46,367 |
Earnings per Share: |  |  |  |  |  |
Basic |  | $ | 3.49 |  |  | $ | 3.41 |  |  | $ | 2.31 |
Diluted |  | $ | 3.48 |  |  | $ | 3.39 |  |  | $ | 2.30 |
(1)Prior to fiscal 2019, we granted restricted stock awards that contained non-forfeitable rights to dividends on unvested shares, and we are required to include these participating securities in calculating our basic earnings per common share, using the two-class method. The values for contingent common shares set forth above reflect the dilutive effect of common shares that we would have issued to employees under the terms of performance-based share awards if the relevant performance period for the award had been the reporting period. We exclude the effect of options from our diluted share calculation when the weighted average exercise price of the options is higher than the average market price, since including the options' effect would be anti-dilutive. We excluded options to purchase 1.4 million and 0.2 million shares from the diluted share calculation for the years ended April 29, 2023 and April 30, 2022, respectively. We did not exclude any outstanding options from the diluted share calculation for the fiscal year ended April 24, 2021.

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