Revenue (Notes)

9 Months Ended

Jan. 30, 2021

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

Note 4. Revenue

Revenue from sales of our products and services is recognized either at the point in time when control of the products is transferred to our customers or over time as services are provided in an amount that reflects the consideration we expect to be entitled to in exchange for the products or services. See Note 2. Summary of Significant Accounting Policies for additional information related to our revenue recognition policies and Note 6. Segment Reporting for a description of each segment's product and service offerings.

Disaggregation of Revenue

The following table disaggregates the revenue associated with our major product and service offerings:

	13 weeks ended				39 weeks ended
	January 30, 2021		January 25, 2020		January 30, 2021		January 25, 2020
Retail
Product Sales	$	338,495	$	400,170	$	998,158	$	1,320,587
Rental Income	38,111		48,614		92,568		119,729
Service and Other Revenue (a)	11,063		9,204		32,233		34,097
Retail Total Sales	$	387,669	$	457,988	$	1,122,959	$	1,474,413
Wholesale Sales	$	39,465	$	66,996	$	156,146	$	179,515
DSS Sales (b)	$	7,206	$	6,435	$	19,025	$	17,024
Eliminations (c)	$	(22,727)	$	(29,127)	$	(87,018)	$	(76,775)
Total Sales	$	411,613	$	502,292	$	1,211,112	$	1,594,177

(a)Service and other revenue primarily relates to brand partnerships and other service revenues.

(b)DSS sales primarily relate to direct-to-student subscription-based revenue.

(c)The sales eliminations represent the elimination of Wholesale sales and fulfillment service fees to Retail and the elimination of Retail commissions earned from Wholesale.

Contract Assets and Contract Liabilities

Contract assets represent the sale of goods or services to a customer before we have the right to obtain consideration from the customer. Contract assets consist of unbilled amounts at the reporting date and are transferred to accounts receivable when the rights become unconditional. Contract assets (unbilled receivables) were $0 as of January 30, 2021, January 25, 2020 and May 2, 2020 on our condensed consolidated balance sheets.

Contract liabilities represent an obligation to transfer goods or services to a customer for which we have received consideration and consists of our deferred revenue liability (deferred revenue). Deferred revenue consists of the following:

•advanced payments from customers related to textbook rental and subscription-based performance obligations, which are recognized ratably over the terms of the related rental or subscription periods;

•unsatisfied performance obligations associated with partnership marketing services, which are recognized when the contracted services are provided to our partnership marketing customers; and

•unsatisfied performance obligations associated with the premium paid for the sale of treasury shares, which are expected to be recognized over the term of the merchandising contracts for Fanatics and FLC as discussed in Note 1. Organization - Partnership with Fanatics and FLC and Note 7. Equity and Earnings Per Share - Sale of Treasury Shares.

Deferred revenue of $47,166, $60,708, and $13,373 is recorded in accrued liabilities and $3,956, $0, and $0 is recorded in other long-term liabilities on our condensed consolidated balance sheets for the periods ended January 30, 2021, January 25, 2020 and May 2, 2020, respectively. As of January 30, 2021, we expect to recognize $47,166 of the deferred revenue balance within the next 12 months. The following table presents changes in contract liabilities:

	39 weeks ended
	January 30, 2021		January 25, 2020
Deferred revenue at the beginning of period	$	13,373	$	20,418
Additions to deferred revenue during the period	148,777		170,375
Reductions to deferred revenue for revenue recognized during the period	(111,028)		(130,085)
Deferred revenue balance at the end of period	$	51,122	$	60,708