Revenue Revenue (Notes)

12 Months Ended

Apr. 27, 2024

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

Note 3. 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 Part II - Item 8. Financial Statements and Supplementary Data - Note 2. Summary of Significant Accounting Pronouncements for additional information related to our revenue recognition policies and Part II - Item 8. Financial Statements and Supplementary Data - Note 4. 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.

	52 weeks ended
	April 27, 2024		April 29, 2023
Retail
Course Materials Product Sales	$	971,950	$	927,915
General Merchandise Product Sales (a)	364,097		385,499
Service and Other Revenue (b)	42,191		41,759
Retail Product and Other Sales sub-total	1,378,238		1,355,173
Course Materials Rental Income	136,679		136,553
Retail Total Sales	$	1,514,917	$	1,491,726
Wholesale Sales	$	112,631	$	106,366
Eliminations (c)	$	(60,413)	$	(54,884)
Total Sales	$	1,567,135	$	1,543,208

(a)Logo general merchandise sales for the Retail Segment are recognized on a net basis as commission revenue in the consolidated financial statements.

(b)Service and other revenue primarily relates to brand marketing programs and other service revenues.

(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 both April 27, 2024 and April 29, 2023 on our 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 performance obligations, which are recognized ratably over the terms of the related rental period;

•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 Lids. respectively as discussed in Part II - Item 8. Financial Statements and Supplementary Data - Note 5. Equity and Earnings Per Share - Sale of Treasury Shares.

The following table presents changes in deferred revenue associated with our contract liabilities:

	52 weeks ended
	April 27, 2024		April 29, 2023
Deferred revenue at the beginning of period	$	15,356	$	16,475
Additions to deferred revenue during the period	176,319		184,163
Reductions to deferred revenue for revenue recognized during the period	(176,783)		(185,282)
Deferred revenue balance at the end of period:	$	14,892	$	15,356
Balance Sheet classification:
Accrued liabilities	$	11,310	$	11,218
Other long-term liabilities	3,582		4,138
Deferred revenue balance at the end of period:	$	14,892	$	15,356

As of April 27, 2024, we expect to recognize $11,310 of the deferred revenue balance within the next 12 months.