XML 50 R34.htm IDEA: XBRL DOCUMENT
v3.24.1.1.u2

Accounting Policies (Tables) | 12 Months Ended
--- | ---
Apr. 27, 2024
Accounting Policies [Abstract] |
Schedule of Error Corrections and Prior Period Adjustments | In accordance with US GAAP, the periods presented below have been retrospectively adjusted to reflect the change to cost of sales and SG&A expense. This change had no impact to sales, income from operations, net income, earnings per share, retained earnings or other components of equity or net assets.
(Unaudited, amounts in thousands) |  | For the Year Ended April 29, 2023 |  | For the Year Ended April 30, 2022
|  | Previously Reported |  | Effect of Change |  | As Adjusted |  | Previously Reported |  | Effect of Change |  | As Adjusted
Cost of sales |  | $ | 1,340,734 |  |  | $ | 43,966 |  |  | $ | 1,384,700 |  |  | $ | 1,440,842 |  |  | $ | 36,175 |  |  | $ | 1,477,017 |
Gross profit |  | 1,008,699 |  |  | (43,966) |  |  | 964,733 |  |  | 915,969 |  |  | (36,175) |  |  | 879,794 |
Selling, general and administrative expense |  | 797,260 |  |  | (43,966) |  |  | 753,294 |  |  | 709,213 |  |  | (36,175) |  |  | 673,038 |
Schedule of Recent Accounting Pronouncements | The following table summarizes Accounting Standards Updates ("ASUs") which were adopted in fiscal 2024, but did not have a material impact on our accounting policies or our consolidated financial statements and related disclosures.
ASU |  | Description |  | Adoption Date
ASU 2021-08 |  | Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers |  | Fiscal 2024
Accounting Pronouncements not yet Adopted The following table summarizes additional accounting pronouncements which we have not yet adopted, but we believe will not have a material impact on our accounting policies or our consolidated financial statements and related disclosures.
ASU |  | Description |  | Adoption Date
ASU 2023-09 |  | Income Taxes (Topic 740): Improvements to Income Tax Disclosures |  | Fiscal 2026
ASU 2023-07 |  | Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures |  | Fiscal 2025
ASU 2023-05 |  | Business Combinations - Joint Venture Formations (Subtopic 805-60): Recognition and Initial Measurement |  | Fiscal 2025
ASU 2023-02 |  | Investments - Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method |  | Fiscal 2025

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

X
- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-8 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-7 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-9 + Details
Name: | us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482989/270-10-45-12 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482989/270-10-45-13 + Details
Name: | us-gaap_ScheduleOfNewAccountingPronouncementsAndChangesInAccountingPrinciplesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration