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Business Combinations (Tables) | 3 Months Ended
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Aug. 04, 2019
Schedule of Unaudited Pro Forma Consolidated Results of Operations | The following unaudited pro forma consolidated results of operations for the three-month periods ending August 4, 2019, and July 29, 2018, have been prepared as if the acquisition of eLuxury had occurred on May 1, 2017.
|  | Three Months Ended |
(dollars in thousands, except per share data) |  | August 4, 2019 |  |  | July 29, 2018 |
Net Sales |  | $ | 74,847 |  |  | $ | 74,598 |
Income from operations |  |  | 2,689 |  |  |  | 2,073 |
Net income |  |  | 1,174 |  |  |  | 939 |
Net loss – noncontrolling interest |  |  | 164 |  |  |  | — |
Net income – Culp Inc. common shareholders |  |  | 1,338 |  |  |  | 939 |
Net income per share (basic) – Culp Inc. common shareholders |  |  | 0.11 |  |  |  | 0.08 |
Net income per share (diluted) – Culp Inc. common shareholders |  |  | 0.11 |  |  |  | 0.07 |
eLuxury [Member] |
Schedule of Allocation of Acquisition Cost to Assets Acquired and Liabilities Assumed | The following table presents the final allocation of the acquisition cost to the assets acquired and liabilities assumed based on their fair values.
(dollars in thousands) |  | Fair Value |
Goodwill |  | $ | 13,653 |
Tradename |  |  | 6,549 |
Equipment |  |  | 2,179 |
Inventory |  |  | 1,804 |
Accounts receivable and other current assets |  |  | 108 |
Accounts payable |  |  | (1,336 | )
Accrued expenses |  |  | (295 | )
Non-controlling interest in eLuxury |  |  | (4,532 | )
|  | $ | 18,130 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=116869197&loc=d3e4845-128472 + Details
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