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Fair Value
 12 Months Ended
Apr. 27, 2025
Fair Value Disclosures [Abstract]  
Fair Value

16. FAIR VALUE

ASC Topic 820 establishes a fair value hierarchy that distinguishes between assumptions based on market data (observable inputs) and the company’s assumptions (unobservable inputs). Determining where an asset or liability falls within that hierarchy depends on the lowest level input that is significant to the fair value measurement as a whole. An adjustment to the pricing method used within either level 1 or level 2 inputs could generate a fair value measurement that effectively falls in a lower level in the hierarchy.

The hierarchy consists of three broad levels, as follows:

Level 1 – Quoted market prices in active markets for identical assets or liabilities,

Level 2 – Inputs other than level 1 inputs that are either directly or indirectly observable, and

Level 3 – Unobservable inputs developed using the company’s estimates and assumptions, which reflect those that market participants would use.

The determination of where an asset or liability falls in the hierarchy requires significant judgment. We evaluate our hierarchy disclosures each quarter based on various factors, and it is possible that an asset or liability may be classified differently from quarter to quarter. However, we expect that changes in classifications between different levels will be rare.

Recurring Basis

The following tables present information about assets measured at fair value on a recurring basis:

 

 

 

Fair value measurements as of April 27, 2025, using:

 

 

 

Quoted
prices in
active markets
for identical
assets

 

 

Significant
other
observable
inputs

 

Significant
unobservable
    inputs

 

 

 

(amounts in thousands)

 

Level 1

 

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

U.S. Government Money Market Fund

 

$

5,682

 

 

N/A

 

N/A

 

$

5,682

 

Growth Allocation Mutual Funds

 

 

808

 

 

N/A

 

N/A

 

 

808

 

S&P 500 Index Fund

 

 

275

 

 

N/A

 

N/A

 

 

275

 

Other

 

 

282

 

 

N/A

 

N/A

 

 

282

 

 

 

 

Fair value measurements as of April 28, 2024, using:

 

 

 

Quoted
prices in
active markets
for identical
assets

 

 

Significant
other
observable
inputs

 

Significant
unobservable
    inputs

 

 

 

(amounts in thousands)

 

Level 1

 

 

Level 2

 

Level 3

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

U.S. Government Money Market Fund

 

$

6,910

 

 

N/A

 

N/A

 

$

6,910

 

Growth Allocation Mutual Funds

 

 

691

 

 

N/A

 

N/A

 

 

691

 

S&P 500 Index Fund

 

 

176

 

 

N/A

 

N/A

 

 

176

 

Other

 

 

228

 

 

N/A

 

N/A

 

 

228