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Receivables
12 Months Ended
Apr. 28, 2018
Receivables [Abstract]  
Receivables
Note 9. Receivables

We sell our products throughout the United States and in certain foreign countries on credit terms we establish for each customer.  On the sale of certain products, we have the ability to file a contractor’s lien against the product installed as collateral and to file claims against surety bonds to protect our interest in receivables.  Foreign sales are at times secured by irrevocable letters of credit or bank guarantees.

Accounts receivable are reported net of an allowance for doubtful accounts of $2,151 and $2,610 at April 28, 2018 and April 29, 2017, respectively. Included in accounts receivable as of April 28, 2018 and April 29, 2017 was $964 and $1,857, respectively, of retainage on construction-type contracts, all of which is expected to be collected within one year.

In connection with certain sales transactions, we have entered into sales contracts with installment payments exceeding 12 months and sales-type leases.  The present value of these contracts and leases are recorded as a receivable as the revenue is recognized in accordance with GAAP, 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 $3,393 and $4,890 as of April 28, 2018 and April 29, 2017, respectively.  Contract and lease receivables bearing annual interest rates of 4.8 to 10.0 percent are due in varying annual installments through 2024.  The face amount of long-term receivables was $3,733 as of April 28, 2018 and $5,201 as of April 29, 2017, respectively.