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CONSOLIDATED BALANCE SHEETS - USD ($)
Nov. 01, 2020
May 03, 2020
Nov. 03, 2019
Current assets:      
Cash and cash equivalents $ 45,288,000 $ 69,790,000 [1] $ 46,955,000
Short-term investments - held-to-maturity 5,005,000 4,271,000 [1]  
Short-term investments - available for sale 5,462,000 923,000 [1]  
Accounts receivable, net 32,960,000 25,093,000 [1] 23,890,000
Inventories 47,726,000 47,907,000 [1] 51,443,000
Current income taxes receivable   1,585,000 [1] 776,000
Current assets - discontinued operation     4,760,000
Other current assets 3,509,000 2,116,000 [1] 2,745,000
Total current assets 139,950,000 151,685,000 [1] 130,569,000
Property, plant and equipment, net 41,599,000 43,147,000 [1] 45,221,000
Goodwill     13,569,000
Intangible assets 3,192,000 3,380,000 [1] 3,711,000
Long-term investments - rabbi trust 8,060,000 7,834,000 [1] 7,575,000
Long-term investments - held-to-maturity 759,000 2,076,000 [1]  
Right of use assets 6,165,000 3,903,000 [1] 4,883,000
Noncurrent income taxes receivable     733,000
Deferred income taxes 645,000 793,000 [1] 511,000
Investment in unconsolidated joint venture 1,859,000 1,602,000 [1] 1,504,000
Long-term note receivable affiliated with discontinued operation     1,800,000
Noncurrent assets - discontinued operation     22,950,000
Other assets 547,000 664,000 [1] 496,000
Total assets 202,776,000 215,084,000 [1] 233,522,000
Current liabilities:      
Line of credit - China operations [1]   1,015,000  
Paycheck Protection Program Loan [1]   7,606,000  
Accounts payable - trade 38,247,000 23,002,000 [1] 26,336,000
Accounts payable - capital expenditures 68,000 107,000 [1] 398,000
Operating lease liability - current 2,316,000 1,805,000 [1] 2,090,000
Deferred revenue 375,000 502,000 [1] 375,000
Accrued expenses 11,684,000 5,687,000 [1] 8,263,000
Accrued restructuring costs     35,000
Current liabilities - Discontinued operation     1,907,000
Income taxes payable - current 1,413,000 395,000 [1] 1,539,000
Total current liabilities 54,103,000 40,119,000 [1] 40,943,000
Line of credit - U.S. operations [1]   29,750,000  
Accrued expenses - long-term   167,000 [1] 333,000
Operating lease liability - noncurrent 4,008,000 2,016,000 [1] 2,614,000
Income taxes payable - long-term 3,325,000 3,796,000 [1] 3,442,000
Deferred income taxes 6,089,000 1,818,000 [1] 3,283,000
Deferred compensation 8,000,000 7,720,000 [1] 7,429,000
Contingent consideration affiliated with discontinued operation     6,006,000
Noncurrent liabilities - discontinued operation     3,550,000
Total liabilities 75,525,000 85,386,000 [1] 67,600,000
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 12,303,023 at November 1, 2020; 12,411,957 at November 3, 2019; and 12,284,946 at May 3, 2020 615,000 615,000 [1] 621,000
Capital contributed in excess of par value 43,031,000 42,582,000 [1] 44,109,000
Accumulated earnings 83,579,000 86,511,000 [1] 116,735,000
Accumulated other comprehensive income (loss) 26,000 (10,000) [1] 55,000
Total shareholders' equity attributable to Culp, Inc. 127,251,000 129,698,000 [1] 161,520,000
Noncontrolling interest - discontinued operation     4,402,000
Total equity 127,251,000 129,698,000 [1] 165,922,000
Total liabilities and shareholders' equity $ 202,776,000 $ 215,084,000 [1] $ 233,522,000
[1] Derived from audited financial statements.