Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Jan. 28, 2023

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

Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Income (Loss)

The activity in accumulated other comprehensive income (loss) for the quarters ended January 28, 2023, and January 22, 2022, is as follows:

(Unaudited, amounts in thousands)	Translation adjustment		Unrealized gain (loss) on marketable securities		Net pension amortization and net actuarial loss		Accumulated other comprehensive income (loss)
Balance at October 29, 2022	$	(6,551)	$	(501)	$	(3,465)	$	(10,517)
Changes before reclassifications	4,014		303		—		4,317
Amounts reclassified to net income	—		78		49		127
Tax effect	—		(94)		(13)		(107)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	4,014		287		36		4,337
Balance at January 28, 2023	$	(2,537)	$	(214)	$	(3,429)	$	(6,180)
Balance at October 23, 2021	$	2,340	$	320	$	(4,813)	$	(2,153)
Changes before reclassifications	(752)		(201)		—		(953)
Amounts reclassified to net income	—		16		75		91
Tax effect	—		45		(19)		26
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(752)		(140)		56		(836)
Balance at January 22, 2022	$	1,588	$	180	$	(4,757)	$	(2,989)

The activity in accumulated other comprehensive income (loss) for the nine months ended January 28, 2023 and January 22, 2022, is as follows:

(Unaudited, amounts in thousands)	Translation adjustment		Unrealized gain (loss) on marketable securities		Net pension amortization and net actuarial loss		Accumulated other comprehensive income (loss)
Balance at April 30, 2022	$	(1,961)	$	(298)	$	(3,538)	$	(5,797)
Changes before reclassifications	(576)		(87)		—		(663)
Amounts reclassified to net income	—		199		145		344
Tax effect	—		(28)		(36)		(64)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(576)		84		109		(383)
Balance at January 28, 2023	$	(2,537)	$	(214)	$	(3,429)	$	(6,180)
Balance at April 24, 2021	$	3,041	$	370	$	(4,932)	$	(1,521)
Changes before reclassifications	(1,453)		(270)		—		(1,723)
Amounts reclassified to net income	—		18		225		243
Tax effect	—		62		(50)		12
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(1,453)		(190)		175		(1,468)
Balance at January 22, 2022	$	1,588	$	180	$	(4,757)	$	(2,989)

We reclassified both the unrealized gain (loss) on marketable securities and the net pension amortization from accumulated other comprehensive loss to net income through other income (expense), net.

The components of non-controlling interest were as follows:

	Quarter Ended				Nine Months Ended
(Unaudited, amounts in thousands)	1/28/2023		1/22/2022		1/28/2023		1/22/2022
Balance as of the beginning of the period	$	9,128	$	8,380	$	8,897	$	8,648
Net income (loss)	(149)		615		1,005		2,157
Other comprehensive loss	1,427		101		504		(449)
Dividends distributed to joint venture minority partners	—		—		—		(1,260)
Balance as of the end of the period	$	10,406	$	9,096	$	10,406	$	9,096