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Revenue Recognition
 6 Months Ended
Oct. 26, 2024
Revenue from Contract with Customer [Abstract]  
Revenue Recognition Revenue Recognition
Our revenue is primarily derived from product sales. We report product sales net of discounts and recognize them when control (rights and obligations associated with the product) passes to the customer. For sales to furniture retailers or distributors, control typically transfers when we ship the product. In cases where we sell directly to the end consumer, control of the product is generally transferred upon delivery.

For shipping and handling activities, we have elected to apply the accounting policy election permitted in ASC 606-10-25-18B, which allows an entity to account for shipping and handling activities as fulfillment activities (rather than as a promised good or service) when the activities are performed even if those activities are performed after the control of the good has been transferred. We expense shipping and handling costs at the time we recognize revenue in accordance with this election.

For sales tax, we have elected to apply the accounting policy election permitted in ASC 606-10-32-2A, which allows an entity to exclude from the measurement of the transaction price all taxes imposed on and concurrent with a specific revenue-producing transaction and collected by the entity from a customer, including sales, use, excise, value-added, and franchise taxes (collectively referred to as sales taxes). This allows us to present revenue net of these certain types of taxes.

We have elected the practical expedient permitted in ASC 606-10-32-18, which allows an entity to recognize the promised amount of consideration without adjusting for the effects of a significant financing component if the contract has a duration of one year or less. As our contracts typically are less than one year in length and do not have significant financing components, we have not adjusted consideration.
The following table presents our revenue disaggregated by product category and by segment or unit:

Quarter Ended October 26, 2024Quarter Ended October 28, 2023
(Unaudited, amounts in thousands)WholesaleRetailCorporate
and Other		TotalWholesaleRetailCorporate
and Other		Total
Upholstered Furniture$287,105 $179,772 $32,387 $499,264 $287,016 $172,989 $26,101 $486,106 
Casegoods Furniture19,962 12,503 2,401 34,866 18,970 12,942 2,582 34,494 
Delivery40,306 8,093 2,208 50,607 43,655 7,987 1,755 53,397 
Other (1)
16,524 21,196 5,091 42,811 15,326 20,391 5,794 41,511 
Total$363,897 $221,564 $42,087 $627,548 $364,967 $214,309 $36,232 $615,508 
Eliminations(106,521)(104,073)
Consolidated Net Sales$521,027 $511,435 
Six Months Ended October 26, 2024Six Months Ended October 28, 2023
(Unaudited, amounts in thousands)WholesaleRetailCorporate
and Other		TotalWholesaleRetailCorporate
and Other		Total
Upholstered Furniture$568,285 $346,647 $60,263 $975,195 $547,389 $343,703 $54,791 $945,883 
Casegoods Furniture36,050 23,878 5,520 65,448 38,223 24,775 5,492 68,490 
Delivery78,819 15,475 4,276 98,570 83,698 15,558 3,657 102,913 
Other (1)31,643 37,934 10,736 80,313 29,132 38,516 12,353 80,001 
Total$714,797 $423,934 $80,795 $1,219,526 $698,442 $422,552 $76,293 $1,197,287 
Eliminations(202,967)(204,201)
Consolidated Net Sales$1,016,559 $993,086 
(1)Primarily includes revenue for advertising, royalties, parts, accessories, after-treatment products, surcharges, rebates and other sales incentives.

Upholstered Furniture - Includes revenue for upholstered furniture, such as recliners, sofas, loveseats, chairs, sectionals, modulars, and ottomans. This revenue includes sales to La-Z-Boy Furniture Galleries® stores (including company-owned stores), operators of La-Z-Boy Comfort Studio® locations, England Custom Comfort Center locations, other major dealers, independent retailers, and the end consumer.
Casegoods Furniture - Includes revenue for casegoods furniture typically found in a bedroom, such as beds, chests, dressers, nightstands and benches; furniture typically found in the dining room, such as dining tables, storage units, and stools; and furniture typically found throughout the home, such as cocktail tables, chairsides, sofa tables, end tables, and entertainment centers. This revenue includes sales to La-Z-Boy Furniture Galleries® stores (including company-owned stores), independent retailers, and the end consumer.

Contract Assets and Liabilities. We receive customer deposits from end consumers before we recognize revenue and in some cases, we have the unconditional right to collect the remaining portion of the order price before we fulfill our performance obligation, resulting in a contract asset and a corresponding deferred revenue liability. In our consolidated balance sheet, customer deposits and deferred revenue (collectively, the "contract liabilities") are reported in accrued expenses and other current liabilities while contract assets are reported as other current assets.

The following table presents our contract assets and liabilities:

(Unaudited, amounts in thousands)10/26/20244/27/2024
Contract assets $34,672 $35,518 
Customer deposits$85,918 $88,798 
Deferred revenue34,672 35,518 
Total contract liabilities (1)
$120,590 $124,316 
(1)During the six months ended October 26, 2024, we recognized revenue of $115.6 million related to our contract liability balance at April 27, 2024.