XML 59 R14.htm IDEA: XBRL DOCUMENT v2.4.0.8
Receivables
3 Months Ended
Jul. 27, 2013
Receivables [Abstract]  
Receivables
Receivables

Accounts receivable are reported net of an allowance for doubtful accounts of $3,231 and $2,729 at July 27, 2013 and April 27, 2013, respectively.

In connection with certain sales transactions, we have entered into sales contracts with installment payments exceeding six months and sales-type leases.  The present value of these contracts and leases is recorded as a receivable as the revenue is recognized in accordance with generally accepted accounting principles, and profit is recognized to the extent the present value is in excess of cost.  We generally retain a security interest in the equipment or in the cash flow generated by the equipment until the contract is paid.  The present value of long-term contracts and lease receivables, including accrued interest and current maturities, was $15,430 and $16,132 as of July 27, 2013 and April 27, 2013, respectively.  Contract and lease receivables bearing annual interest rates of 5.8 to 10.0 percent are due in varying annual installments through July 2022.  The face amount of long-term receivables was $17,715 as of July 27, 2013 and $18,731 as of April 27, 2013.  Included in accounts receivable as of July 27, 2013 and April 27, 2013 was $258 and $803, respectively, of retainage on construction-type contracts, all of which is expected to be collected in one year.