Revenue Recognition

12 Months Ended

Apr. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

The following table presents our revenue disaggregated by product category and by segment or unit:

	Year Ended April 30, 2022
(Amounts in thousands)	Wholesale		Retail		Corporate and Other		Total
Motion Upholstery Furniture	$	975,624	$	450,438	$	613	$	1,426,675
Stationary Upholstery Furniture	402,953		200,639		219,354		822,946
Bedroom Furniture	38,963		6,937		15,579		61,479
Dining Room Furniture	26,013		12,408		4,677		43,098
Occasional Furniture	45,150		26,940		4,303		76,393
Delivery	190,110		26,915		7,999		225,024
Other (1)	90,025		80,117		(56,566)		113,576
Total	$	1,768,838	$	804,394	$	195,959	$	2,769,191
			Eliminations				(412,380)
	Consolidated Net Sales						$	2,356,811
	Year Ended April 24, 2021
(Amounts in thousands)	Wholesale		Retail		Corporate and Other		Total
Motion Upholstery Furniture	$	759,451	$	371,587	$	523	$	1,131,561
Stationary Upholstery Furniture	332,046		118,913		134,296		585,255
Bedroom Furniture	37,351		5,785		9,629		52,765
Dining Room Furniture	25,394		10,931		3,096		39,421
Occasional Furniture	44,897		20,682		3,171		68,750
Delivery	117,415		22,216		5,230		144,861
Other (1)	(15,256)		62,792		(28,575)		18,961
Total	$	1,301,298	$	612,906	$	127,370	$	2,041,574
			Eliminations				(307,330)
	Consolidated Net Sales						$	1,734,244

(1)Primarily includes revenue for advertising, royalties, parts, accessories, after-treatment products, surcharges, discounts & allowances, rebates and other sales incentives. The increase year-over-year is primarily due to an increase in surcharges in response to higher material and input costs.

Motion Upholstery Furniture - Includes gross revenue for upholstered furniture, such as recliners, sofas, loveseats, chairs, sectionals and modulars that have a mechanism that allows the back of the product to recline or the product's footrest to extend. This gross revenue includes sales to La-Z-Boy Furniture Galleries® stores (including company-owned stores), operators of La-Z-Boy Comfort Studio® locations, England Custom Comfort Center locations, other major dealers, independent retailers, and the end consumer.

Stationary Upholstery Furniture - Includes gross revenue for upholstered furniture, such as sofas, loveseats, chairs, sectionals, modulars, and ottomans that do not have a mechanism. This gross revenue includes sales to La-Z-Boy Furniture Galleries® stores (including company-owned stores), operators of La-Z-Boy Comfort Studio® locations, England Custom Comfort Center locations, other major dealers, independent retailers, and the end consumer.

Bedroom Furniture - Includes gross revenue for casegoods furniture typically found in a bedroom, such as beds, chests, dressers, nightstands and benches. This gross revenue includes sales to La-Z-Boy Furniture Galleries® stores (including company-owned stores), independent retailers, and the end consumer.

Dining Room Furniture - Includes gross revenue for casegoods furniture typically found in a dining room, such as dining tables, dining chairs, storage units and stools. This gross revenue includes sales to La-Z-Boy Furniture Galleries® stores (including company-owned stores), independent retailers, and the end consumer.

Occasional Furniture - Includes gross revenue for casegoods furniture found throughout the home, such as cocktail tables, chairsides, sofa tables, end tables, and entertainment centers. This gross revenue includes sales to La-Z-Boy Furniture Galleries® stores (including company-owned stores), independent retailers, and the end consumer.

Contract Assets and Liabilities. We receive customer deposits from end consumers before we recognize revenue and in some

cases we have the unconditional right to collect the remaining portion of the order price before we fulfill our performance

obligation, resulting in a contract asset and a corresponding deferred revenue liability. In our consolidated balance sheet,

customer deposits and deferred revenue (collectively, the "contract liabilities") are reported in accrued expenses and other

current liabilities while contract assets are reported as other current assets. The following table presents our contract assets and

liabilities:

(Unaudited, amounts in thousands)	4/30/2022		4/24/2021
Contract assets	$	139,006	$	108,460
Customer deposits	$	183,233	$	180,766
Deferred revenue	139,006		108,460
Total contract liabilities (1)	$	322,239	$	289,226

(1)During the year ended April 30, 2022, we recognized revenue of $271.9 million related to our contract liability balance at April 24, 2021.