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CONSOLIDATED BALANCE SHEETS - USD ($)
Aug. 02, 2020
May 03, 2020
Aug. 04, 2019
Current assets:      
Cash and cash equivalents $ 39,986,000 $ 69,790,000 [1] $ 44,236,000
Short-term investments - Held-To-Maturity 5,092,000 4,271,000 [1]  
Short-term investments - Available for Sale 983,000 923,000 [1]  
Accounts receivable, net 29,893,000 25,093,000 [1] 23,661,000
Inventories 40,402,000 47,907,000 [1] 47,593,000
Current income taxes receivable 782,000 1,585,000 [1] 776,000
Current assets - Discontinued operation     3,557,000
Other current assets 3,547,000 2,116,000 [1] 2,617,000
Total current assets 120,685,000 151,685,000 [1] 122,440,000
Property, plant and equipment, net 42,051,000 43,147,000 [1] 45,475,000
Goodwill     13,569,000
Intangible assets 3,286,000 3,380,000 [1] 3,805,000
Long-term investments - rabbi trust 7,916,000 7,834,000 [1] 7,347,000
Long-term investments - Held-To-Maturity 1,314,000 2,076,000 [1]  
Right of use assets 6,443,000 3,903,000 [1] 5,488,000
Noncurrent income taxes receivable     733,000
Deferred income taxes 593,000 793,000 [1] 486,000
Investment in unconsolidated joint venture 1,759,000 1,602,000 [1] 1,520,000
Long-term note receivable affiliated with discontinued operation     1,800,000
Noncurrent assets - Discontinued operation     23,058,000
Other assets 540,000 664,000 [1] 526,000
Total assets 184,587,000 215,084,000 [1] 226,247,000
Current liabilities:      
Line of credit - China operations [1]   1,015,000  
Paycheck Protection Program Loan [1]   7,606,000  
Accounts payable - trade 25,746,000 23,002,000 [1] 21,855,000
Accounts payable - capital expenditures 333,000 107,000 [1] 50,000
Operating lease liability - current 2,387,000 1,805,000 [1] 2,270,000
Deferred revenue 685,000 502,000 [1] 684,000
Accrued expenses 7,852,000 5,687,000 [1] 8,104,000
Accrued restructuring costs     42,000
Current liabilities - Discontinued operation     1,431,000
Income taxes payable - current 613,000 395,000 [1] 1,116,000
Total current liabilities 37,616,000 40,119,000 [1] 35,552,000
Line of credit - U.S. operations [1]   29,750,000  
Accrued expenses - long-term 117,000 167,000 [1] 333,000
Operating lease liability - noncurrent 4,214,000 2,016,000 [1] 3,081,000
Income taxes payable - long-term 3,591,000 3,796,000 [1] 3,640,000
Deferred income taxes 5,311,000 1,818,000 [1] 2,543,000
Deferred compensation 7,869,000 7,720,000 [1] 7,232,000
Contingent consideration affiliated with discontinued operation     5,931,000
Noncurrent liabilities - Discontinued operation     3,599,000
Total liabilities 58,718,000 85,386,000 [1] 61,911,000
Commitments and Contingencies (Notes 10, 17 and 18) [1]
Shareholders' equity      
Preferred stock, $0.05 par value, authorized 10,000,000 [1]
Common stock, $0.05 par value, authorized 40,000,000 shares, issued and outstanding 12,291,946 at August 2, 2020; 12,405,014 at August 4, 2019; and 12,284,946 at May 3, 2020 615,000 615,000 [1] 621,000
Capital contributed in excess of par value 42,708,000 42,582,000 [1] 43,803,000
Accumulated earnings 82,487,000 86,511,000 [1] 115,676,000
Accumulated other comprehensive income (loss) 59,000 (10,000) [1] 46,000
Total shareholders' equity attributable to Culp Inc. 125,869,000 129,698,000 [1] 160,146,000
Noncontrolling interest - Discontinued Operation     4,190,000
Total equity 125,869,000 129,698,000 [1] 164,336,000
Total liabilities and shareholders' equity $ 184,587,000 $ 215,084,000 [1] $ 226,247,000
[1] Derived from audited financial statements.