Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Apr. 24, 2021

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Activity in Accumulated Other Comprehensive Loss

Activity in accumulated other comprehensive loss was as follows:

(Amounts in thousands)	Translation adjustment		Change in fair value of cash flow hedge		Unrealized gain (loss) on marketable securities		Net pension amortization and net actuarial loss		Accumulated other comprehensive loss
Balance at April 28, 2018	$	2,388	$	154	$	1,376	$	(29,117)	$	(25,199)
Changes before reclassifications	(2,338)		(369)		330		(479)		(2,856)
Cumulative effect adjustment for investments (1)	—		—		(1,637)				(1,637)
Amounts reclassified to net income (3)	—		280		25		26,553		26,858
Tax effect	—		22		(88)		(562)		(628)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(2,338)		(67)		(1,370)		25,512		21,737
Balance at April 27, 2019	$	50	$	87	$	6	$	(3,605)	$	(3,462)
Changes before reclassifications	(1,941)		—		387		(1,809)		(3,363)
Reclassification of certain income tax effects (2)	—		(97)		258		(708)		(547)
Amounts reclassified to net income	—		14		(141)		218		91
Tax effect	—		(4)		(61)		394		329
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(1,941)		(87)		443		(1,905)		(3,490)
Balance at April 25, 2020	$	(1,891)	$	—	$	449	$	(5,510)	$	(6,952)
Changes before reclassifications	4,932		—		(96)		428		5,264
Amounts reclassified to net income	—		—		(9)		347		338
Tax effect	—		—		26		(197)		(171)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	4,932		—		(79)		578		5,431
Balance at April 24, 2021	$	3,041	$	—	$	370	$	(4,932)	$	(1,521)

(1)The cumulative effect adjustment for investments is composed of $2.1 million of unrealized gains on equity investments offset by $0.5 million of tax expense. We reclassified the net $1.6 million of cumulative effect adjustment from accumulated other comprehensive loss to retained earnings as a result of adopting ASU 2016-01, Financial Instruments-Overall (Subtopic 825-10).

(2)Income tax effects of the Tax Cuts and Jobs Act are reclassified from AOCI to retained earnings due to adoption of ASU 2018-02, Income Statement-Reporting Comprehensive Income (Topic 220).

(3)Includes a net $23.8 million charge related to the pension termination that occurred in the fourth quarter of fiscal 2019. Of this amount, $28.2 million of expense was recorded as pension termination charge and $4.4 million of income was recorded in income tax expense in our consolidated statement of income. For further information, refer to Note 11, Employee Benefits.

Components of Noncontrolling Interest

The components of noncontrolling interest were as follows:

	Fiscal Year Ended
	(52 weeks)		(52 weeks)		(52 weeks)
(Amounts in thousands)	4/24/2021		4/25/2020		4/27/2019
Balance as of the beginning of the year	$	15,553	$	14,468	$	13,035
Net income	1,068		1,515		1,567
Other comprehensive income (loss)	534		(266)		(134)
Dividends distributed to joint venture minority partners	(8,507)		—		—
Other changes in noncontrolling interests	—		(164)		—
Balance as of the end of the year	$	8,648	$	15,553	$	14,468