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Revenue Recognition
 9 Months Ended
Jan. 25, 2025
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 January 25, 2025Quarter Ended January 27, 2024
(Unaudited, amounts in thousands)WholesaleRetailCorporate
and Other		TotalWholesaleRetailCorporate
and Other		Total
Upholstered Furniture$284,175 $183,076 $31,564 $498,815 $279,959 $168,473 $28,049 $476,481 
Casegoods Furniture18,316 13,275 1,932 33,523 17,955 11,021 2,231 31,207 
Delivery42,148 8,683 2,030 52,861 39,633 7,772 1,773 49,178 
Other (1)
18,359 22,633 5,136 46,128 18,828 17,430 6,079 42,337 
Total$362,998 $227,667 $40,662 $631,327 $356,375 $204,696 $38,132 $599,203 
Eliminations(109,550)(98,797)
Consolidated Net Sales$521,777 $500,406 
Nine Months Ended January 25, 2025Nine Months Ended January 27, 2024
(Unaudited, amounts in thousands)WholesaleRetailCorporate
and Other		TotalWholesaleRetailCorporate
and Other		Total
Upholstered Furniture$852,460 $529,723 $91,827 $1,474,010 $827,348 $512,176 $82,840 $1,422,364 
Casegoods Furniture54,366 37,153 7,452 98,971 56,178 35,796 7,723 99,697 
Delivery120,967 24,158 6,306 151,431 123,331 23,330 5,430 152,091 
Other (1)50,002 60,567 15,872 126,441 47,960 55,946 18,432 122,338 
Total$1,077,795 $651,601 $121,457 $1,850,853 $1,054,817 $627,248 $114,425 $1,796,490 
Eliminations(312,517)(302,998)
Consolidated Net Sales$1,538,336 $1,493,492 
(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)1/25/20254/27/2024
Contract assets $41,859 $35,518 
Customer deposits$101,966 $88,798 
Deferred revenue41,859 35,518 
Total contract liabilities (1)
$143,825 $124,316 
(1)During the nine months ended January 25, 2025, we recognized revenue of $116.5 million related to our contract liability balance at April 27, 2024.