Accumulated Other Comprehensive Income (Loss)

6 Months Ended

Oct. 28, 2023

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

Accumulated Other Comprehensive Income (Loss)

Activity in accumulated other comprehensive income (loss) for the quarters ended October 28, 2023, and October 29, 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 July 29, 2023	$	(1,565)	$	75	$	(2,708)	$	(4,198)
Changes before reclassifications	(3,131)		(139)		—		(3,270)


Amounts reclassified to net income	—		24		31		55
Tax effect	—		28		(7)		21
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(3,131)		(87)		24		(3,194)
Balance at October 28, 2023	$	(4,696)	$	(12)	$	(2,684)	$	(7,392)

Balance at July 30, 2022	$	(3,602)	$	(212)	$	(3,502)	$	(7,316)
Changes before reclassifications	(2,949)		(445)		—		(3,394)


Amounts reclassified to net income	—		62		48		110
Tax effect	—		94		(11)		83
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(2,949)		(289)		37		(3,201)
Balance at October 29, 2022	$	(6,551)	$	(501)	$	(3,465)	$	(10,517)

Activity in accumulated other comprehensive income (loss) for the six months ended October 28, 2023 and October 29, 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 29, 2023	$	(2,652)	$	(145)	$	(2,731)	$	(5,528)
Changes before reclassifications	(2,044)		(154)		—		(2,198)


Amounts reclassified to net income	—		331		62		393
Tax effect	—		(44)		(15)		(59)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(2,044)		133		47		(1,864)
Balance at October 28, 2023	$	(4,696)	$	(12)	$	(2,684)	$	(7,392)

Balance at April 30, 2022	$	(1,961)	$	(298)	$	(3,538)	$	(5,797)
Changes before reclassifications	(4,590)		(390)		—		(4,980)


Amounts reclassified to net income	—		121		96		217
Tax effect	—		66		(23)		43
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(4,590)		(203)		73		(4,720)
Balance at October 29, 2022	$	(6,551)	$	(501)	$	(3,465)	$	(10,517)

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 noncontrolling interest were as follows:


	Quarter Ended				Six Months Ended
(Unaudited, amounts in thousands)	10/28/2023		10/29/2022		10/28/2023		10/29/2022
Balance as of the beginning of the period	$	10,668	$	8,830	$	10,261	$	8,897
Net income	495		702		942		1,154
Other comprehensive loss	(484)		(404)		(524)		(923)
Dividends distributed to joint venture minority partners	(1,172)		—		(1,172)		—
Balance as of the end of the period	$	9,507	$	9,128	$	9,507	$	9,128