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Investments in Affiliates | 3 Months Ended
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Jul. 29, 2023
Investments in and Advances to Affiliates, Schedule of Investments [Abstract] |
Investments in Affiliates | Investments in Affiliates We evaluated the nature of our investment in affiliates of Xdisplay TM, which is developing micro-LED mass transfer expertise and technologies, and Miortech (dba Etulipa), which is developing low power outdoor electrowetting technology. We determined that Miortech is a variable interest entity (VIE), and based on management's analysis, we determined that Daktronics is not the primary beneficiary; therefore, the investment in Miortech is accounted for under the equity method. The aggregate amount of our investments accounted for under the equity method was $10,804 and $11,934 as of July 29, 2023 and April 29, 2023, respectively. Our proportional share of the respective affiliates' earnings or losses is included in the "Other expense and debt issuance costs write-off, net" line item in our condensed consolidated statements of operations. For the three months ended July 29, 2023, our share of the losses of our affiliates was $690 as compared to $890 for the three months ended July 30, 2022. We purchased services for research and development activities from our equity method investees. The total of these related party transactions for the three months ended July 29, 2023 and July 30, 2022 was $78 and $0, respectively, which is included in the "Product design and development" line item in our condensed consolidated statements of operations, and for the three months ended July 29, 2023, $2 remains unpaid and is included in the "Accounts payable" line item in our condensed consolidated balance sheets. During the three months ended July 29, 2023, we invested $750 in convertible notes and $436 in promissory notes (collectively, "Notes") of our affiliates, which is included in the "Investment in affiliates and other assets" line item in our condensed consolidated balance sheets. During the three months ended July 29, 2023, we did not convert any Notes to stock ownership. Our ownership in Miortech was 55.9 percent and in Xdisplay TM was 16.4 percent as of July 29, 2023. The total amount of Notes as of July 29, 2023 was $9,993 and is included in the "Investments in affiliates and other assets" line item in our condensed consolidated balance sheets. The Notes balance combined with the investment in affiliates balance totaled $20,797 and $24,414 as of July 29, 2023 and July 30, 2022, respectively.

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- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//320/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 321 -Publisher FASB -URI https://asc.fasb.org//321/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 325 -Publisher FASB -URI https://asc.fasb.org//325/tableOfContent + Details
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- References No definition available. + Details
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