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Note 10 - Commitments and Contingencies | 9 Months Ended
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Jan. 30, 2021
Notes to Financial Statements |
Commitments and Contingencies Disclosure [Text Block] | Note 10. Commitments and Contingencies Litigation: We are a party to legal proceedings and claims which arise during the ordinary course of business. As of May 2, 2020, we recorded a $2,072 reserve for the probable and reasonably estimated cost to settle a patent litigation claim, which was included in the "Accrued expenses" line item in our condensed consolidated balance sheets. During the third quarter of fiscal 2021, an appellate court ruled in our favor on this matter. Since we no longer estimate we have a probable loss, we recorded a credit to the "Cost of sales" line item in our condensed consolidated statement of operations and removed the liability from our condensed consolidated balance sheet during the third quarter of fiscal 2021. For other unresolved legal proceedings or claims, we do not believe there is a reasonable probability that any material loss will be incurred. Accordingly, no material accrual or disclosure of a potential range of loss has been made related to these matters. We do not expect the ultimate liability of these unresolved legal proceedings or claims to have a material effect on our financial position, liquidity or capital resources. Warranties: Changes in our warranty obligation for the nine months ended January 30, 2021 consisted of the following:
|  | January 30, |
|  | 2021 |
Beginning accrued warranty obligations |  | $ | 25,624 |
Warranties issued during the period |  |  | 6,473 |
Settlements made during the period |  |  | (4,115 | )
Changes in accrued warranty obligations for pre-existing warranties during the period, including expirations |  |  | (1,520 | )
Ending accrued warranty obligations |  | $ | 26,462 |
Performance guarantees: We have entered into standby letters of credit, bank guarantees and surety bonds with financial institutions relating to the guarantee of our future performance on contracts, primarily construction-type contracts. As of January 30, 2021, we had outstanding letters of credit, bank guarantees and surety bonds in the amount of $6,710, $3,637 and $38,929, respectively. Performance guarantees are issued to certain customers to guarantee the operation and installation of the equipment and our ability to complete a contract. These performance guarantees have various terms but are generally one year. We enter into written agreements with our customers, and those agreements often contain indemnification provisions that require us to make the customer whole if certain acts or omissions by us cause the customer financial loss. We make efforts to negotiate reasonable caps and limitations on the recovery of such damages. As of January 30, 2021, we were not aware of any indemnification claim from a customer.

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