0001104659-16-141055.txt : 20160823 0001104659-16-141055.hdr.sgml : 20160823 20160823162348 ACCESSION NUMBER: 0001104659-16-141055 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 65 CONFORMED PERIOD OF REPORT: 20160730 FILED AS OF DATE: 20160823 DATE AS OF CHANGE: 20160823 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LA-Z-BOY INC CENTRAL INDEX KEY: 0000057131 STANDARD INDUSTRIAL CLASSIFICATION: HOUSEHOLD FURNITURE [2510] IRS NUMBER: 380751137 STATE OF INCORPORATION: MI FISCAL YEAR END: 0425 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-09656 FILM NUMBER: 161847448 BUSINESS ADDRESS: STREET 1: ONE LA-Z-BOY DRIVE CITY: MONROE STATE: MI ZIP: 48162 BUSINESS PHONE: 7342421444 MAIL ADDRESS: STREET 1: ONE LA-Z-BOY DRIVE CITY: MONROE STATE: MI ZIP: 48162 FORMER COMPANY: FORMER CONFORMED NAME: LA Z BOY CHAIR CO DATE OF NAME CHANGE: 19920703 10-Q 1 a16-15293_110q.htm 10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549-1004

FORM 10-Q

Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

FOR QUARTERLY PERIOD ENDED JULY 30, 2016

COMMISSION FILE NUMBER 1-9656

LA-Z-BOY INCORPORATED

(Exact name of registrant as specified in its charter)

MICHIGAN		38-0751137
(State or other jurisdiction of incorporation or organization)		(I.R.S. Employer Identification No.)

One La-Z-Boy Drive, Monroe, Michigan		48162-5138
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code (734) 242-1444

None

(Former name, former address and former fiscal year, if changed since last report.)

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.

Yes x No o

Indicate by check mark whether the Registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit and post such files).

Yes x No o

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer,” and “smaller reporting company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer x

Accelerated filer o

Non-accelerated filer o

Smaller reporting company o

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes o No x

The number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:

Class		Outstanding at August 16, 2016
Common Shares, $1.00 par value		49,169,033

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LA-Z-BOY INCORPORATED
FORM 10-Q FIRST QUARTER OF FISCAL 2017

TABLE OF CONTENTS

		Page Number(s)
PART I Financial Information (Unaudited)		3
Item 1.	Financial Statements	3
	Consolidated Statement of Income	3
	Consolidated Statement of Comprehensive Income	4
	Consolidated Balance Sheet	5
	Consolidated Statement of Cash Flows	6
	Consolidated Statement of Changes in Equity	7
	Notes to Consolidated Financial Statements	8
	Note 1. Basis of Presentation	8
	Note 2. Acquisitions	8
	Note 3. Inventories	9
	Note 4. Investments	9
	Note 5. Pension Plans	10
	Note 6. Product Warranties	10
	Note 7. Stock-Based Compensation	11
	Note 8. Accumulated Other Comprehensive Loss	13
	Note 9. Segment Information	14
	Note 10. Income Taxes	15
	Note 11. Earnings per Share	16
	Note 12. Fair Value Measurements	16
	Note 13. Recent Accounting Pronouncements	18

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	18
	Cautionary Statement Concerning Forward-Looking Statements	19
	Introduction	19
	Results of Operations	21
	Liquidity and Capital Resources	26
	Critical Accounting Policies	28
	Recent Accounting Pronouncements	28
	Business Outlook	29

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	29
Item 4.	Controls and Procedures	29

PART II Other Information		30
Item 1A.	Risk Factors	30
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	30
Item 6.	Exhibits	31

Signature Page		31

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PART I — FINANCIAL INFORMATION (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS

LA-Z-BOY INCORPORATED
CONSOLIDATED STATEMENT OF INCOME

	Quarter Ended
(Unaudited, amounts in thousands, except per share data)	7/30/16			7/25/15
Sales	$	340,783		$	341,423
Cost of sales	207,252			217,191
Gross profit	133,531			124,232
Selling, general and administrative expense	111,763			104,266
Operating income	21,768			19,966
Interest expense	115			112
Interest income	204			205
Other income (expense), net	(72		)	1,968
Income before income taxes	21,785			22,027
Income tax expense	7,777			7,904
Net income	14,008			14,123
Net income attributable to noncontrolling interests	(202		)	(447		)
Net income attributable to La-Z-Boy Incorporated	$	13,806		$	13,676

Basic weighted average common shares	49,105			50,583
Basic net income attributable to La-Z-Boy Incorporated per share	$	0.28		$	0.27

Diluted weighted average common shares	49,594			51,043
Diluted net income attributable to La-Z-Boy Incorporated per share	$	0.28		$	0.27

Dividends declared per share	$	0.10		$	0.08

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

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LA-Z-BOY INCORPORATED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Net income	$	14,008		$	14,123
Other comprehensive income (loss)
Currency translation adjustment	(68		)	(2,845		)
Change in fair value of cash flow hedges, net of tax	(475		)	(197		)
Net unrealized gain (loss) on marketable securities, net of tax	205			(277		)
Net pension amortization, net of tax	509			488
Total other comprehensive income (loss)	171			(2,831		)
Total comprehensive income before allocation to noncontrolling interests	14,179			11,292
Comprehensive (income) loss attributable to noncontrolling interests	(174		)	184
Comprehensive income attributable to La-Z-Boy Incorporated	$	14,005		$	11,476

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

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LA-Z-BOY INCORPORATED

CONSOLIDATED BALANCE SHEET

(Unaudited, amounts in thousands, except par value)	7/30/16			4/30/16
Current assets
Cash and equivalents	$	117,159		$	112,358
Restricted cash	8,983			8,977
Receivables, net of allowance of $3,070 at 7/30/16 and $3,145 at 4/30/16	128,959			146,545
Inventories, net	176,190			175,589
Other current assets	39,082			38,503
Total current assets	470,373			481,972
Property, plant and equipment, net	170,835			171,590
Goodwill	41,152			37,193
Other intangible assets	9,008			8,558
Deferred income taxes — long-term	42,612			41,683
Other long-term assets, net	64,089			59,033
Total assets	$	798,069		$	800,029

Current liabilities
Current portion of long-term debt	$	266		$	290
Accounts payable	45,064			44,661
Accrued expenses and other current liabilities	106,513			112,476
Total current liabilities	151,843			157,427
Long-term debt	448			513
Other long-term liabilities	87,550			84,877
Contingencies and commitments	—			—
Shareholders’ equity
Preferred shares — 5,000 authorized; none issued	—			—
Common shares, $1 par value — 150,000 authorized; 49,169 outstanding at 7/30/16 and 49,331 outstanding at 4/30/16	49,169			49,331
Capital in excess of par value	283,980			279,339
Retained earnings	248,636			252,472
Accumulated other comprehensive loss	(33,801		)	(34,000		)
Total La-Z-Boy Incorporated shareholders’ equity	547,984			547,142
Noncontrolling interests	10,244			10,070
Total equity	558,228			557,212
Total liabilities and equity	$	798,069		$	800,029

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

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LA-Z-BOY INCORPORATED

CONSOLIDATED STATEMENT OF CASH FLOWS

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Cash flows from operating activities
Net income	$	14,008		$	14,123
Adjustments to reconcile net income to cash provided by (used for) operating activities
Deferred income tax expense	(1,076		)	148
Provision for doubtful accounts	(77		)	(340		)
Depreciation and amortization	6,800			6,271
Equity-based compensation expense	3,329			3,012
Change in receivables	17,664			24,610
Change in inventories	510			(22,159		)
Change in other assets	(1,467		)	(6,933		)
Change in payables	403			2,021
Change in other liabilities	(6,044		)	(19,223		)
Net cash provided by operating activities	34,050			1,530

Cash flows from investing activities
Proceeds from disposal of assets	35			279
Capital expenditures	(5,209		)	(6,506		)
Purchases of investments	(7,695		)	(5,422		)
Proceeds from sales of investments	3,670			12,983
Acquisitions, net of cash acquired	(5,281		)	—
Change in restricted cash	(7		)	—
Net cash (used for) provided by investing activities	(14,487		)	1,334

Cash flows from financing activities
Payments on debt	(89		)	(122		)
Stock issued for stock and employee benefit plans	2,564			145
Excess tax benefit on stock option exercises	1,137			363
Purchases of common stock	(13,567		)	(9,171		)
Dividends paid	(4,923		)	(4,055		)
Net cash used for financing activities	(14,878		)	(12,840		)

Effect of exchange rate changes on cash and equivalents	116			(807		)
Change in cash and equivalents	4,801			(10,783		)
Cash and equivalents at beginning of period	112,358			98,302
Cash and equivalents at end of period	$	117,159		$	87,519

Supplemental disclosure of non-cash investing activities
Capital expenditures included in payables	$	—		$	500

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

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LA-Z-BOY INCORPORATED

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

(Unaudited, amounts in thousands)	Common Shares			Capital in Excess of Par Value			Retained Earnings			Accumulated Other Comprehensive Loss			Non- Controlling Interests			Total
At April 25, 2015	$	50,747		$	270,032		$	235,506		$	(32,139	)	$	8,954		$	533,100
Net income							79,252						1,711			80,963
Other comprehensive loss										(1,861		)	(595		)	(2,456		)
Stock issued for stock and employee benefit plans, net of cancellations and withholding tax	243			97			(2,068		)							(1,728		)
Purchases of common stock	(1,659		)	(346		)	(42,077		)							(44,082		)
Stock option and restricted stock expense				8,292												8,292
Tax benefit from exercise of options				1,264												1,264
Dividends paid							(18,141		)							(18,141		)
At April 30, 2016	49,331			279,339			252,472			(34,000		)	10,070			557,212
Net income							13,806						202			14,008
Other comprehensive income (loss)										199			(28		)	171
Stock issued for stock and employee benefit plans, net of cancellations and withholding tax	362			2,138			(1,639		)							861
Purchases of common stock	(524		)	(1,963		)	(11,080		)							(13,567		)
Stock option and restricted stock expense				3,329												3,329
Tax benefit from exercise of options				1,137												1,137
Dividends paid							(4,923		)							(4,923		)
At July 30, 2016	$	49,169		$	283,980		$	248,636		$	(33,801	)	$	10,244		$	558,228

The accompanying Notes to Consolidated Financial Statements are an integral part of these statements.

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LA-Z-BOY INCORPORATED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

Note 1: Basis of Presentation

The accompanying consolidated financial statements include the consolidated accounts of La-Z-Boy Incorporated and our majority-owned subsidiaries. We derived the April 30, 2016, balance sheet from our audited financial statements. We prepared the interim financial information in conformity with generally accepted accounting principles, which we applied on a basis consistent with those reflected in our fiscal 2016 Annual Report on Form 10-K filed with the Securities and Exchange Commission, but the information does not include all of the disclosures required by generally accepted accounting principles. In management’s opinion, the interim financial information includes all adjustments and accruals, consisting only of normal recurring adjustments (except as otherwise disclosed), that are necessary for a fair statement of results for the respective interim periods. The interim results reflected in the accompanying financial statements are not necessarily indicative of the results of operations which will occur for the full fiscal year ending April 29, 2017. Fiscal 2017 is a 52-week year as compared with fiscal 2016, which was 53 weeks, with the additional week occurring in the fourth quarter of fiscal 2016.

During the first quarter of fiscal 2017 and fiscal 2016, we recorded a benefit related to legal settlements as part of cost of sales. The legal settlements increased gross margin by 0.7 percentage points and 0.5 percentage points in the first quarter of fiscal 2017 and fiscal 2016, respectively.

Note 2: Acquisitions

In the first quarter of fiscal 2017, we acquired the assets of an independent operator of one La-Z-Boy Furniture Galleries® store in Reno, Nevada for $5.3 million. We began including this store in our Retail segment results upon acquisition.

Prior to the acquisition, we licensed the exclusive right to own and operate this La-Z-Boy Furniture Galleries® store (and to use the associated trademarks and trade name) in the market to this dealer. We reacquired these rights when we purchased the dealer’s other assets. The effective settlement of this arrangement resulted in no settlement gain or loss as the contractual terms were at market. We recorded an indefinite-lived intangible asset of $0.4 million related to the reacquired rights. We also recognized $4.0 million of goodwill, which primarily relates to the expected synergies resulting from the integration of the acquired store and the anticipated future benefits. We recorded the goodwill and other intangible assets in our Retail segment and will amortize and deduct them for federal income tax purposes over 15 years.

Since the impact of this acquisition on our results of operations was not material, pro forma financial information is not required.

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Note 3: Inventories

A summary of inventories is as follows:

(Unaudited, amounts in thousands)	7/30/16			4/30/16
Raw materials	$	89,931		$	87,905
Work in process	10,487			11,591
Finished goods	97,540			97,861
FIFO inventories	197,958			197,357
Excess of FIFO over LIFO	(21,768		)	(21,768		)
Inventories, net	$	176,190		$	175,589

Note 4: Investments

We have current and long-term investments intended to enhance returns on our cash as well as to fund future obligations of our non-qualified defined benefit retirement plan, our executive deferred compensation plan, and our performance compensation retirement plan. Our short-term investments are included in other current assets and our long-term investments are included in other long-term assets on our consolidated balance sheet. The following summarizes our investments at July 30, 2016, and April 30, 2016:

(Unaudited, amounts in thousands)	7/30/16		4/30/16
Short-term investments:
Available-for-sale investments	$	12,806	$	13,491
Trading securities	50		—
Held-to-maturity investments	1,829		1,826
Total short-term investments	14,685		15,317

Long-term investments:
Available-for-sale investments	31,615		31,659

Total available-for-sale, trading, & held-to-maturity investments	$	46,300	$	46,976

Investments to enhance returns on cash	$	32,749	$	33,583
Investments to fund compensation/retirement plans	$	13,551	$	13,393

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The following is a summary of the unrealized gains, unrealized losses, and fair value by investment type at July 30, 2016, and April 30, 2016:

At July 30, 2016

(Unaudited, amounts in thousands)	Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities	$	1,514	$	(136	)	$	8,399
Fixed income	222		(5		)	35,573
Mutual funds	—		—			50
Other	1		(23		)	2,278
Total securities	$	1,737	$	(164	)	$	46,300

At April 30, 2016

(Unaudited, amounts in thousands)	Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities	$	1,231	$	(135	)	$	8,150
Fixed income	176		(9		)	36,527
Other	1		(21		)	2,299
Total securities	$	1,408	$	(165	)	$	46,976

The following table summarizes sales of available-for-sale securities:

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Proceeds from sales	$	3,670		$	12,983
Gross realized gains	31			677
Gross realized losses	(36		)	(506		)

The fair value of fixed income available-for-sale securities by contractual maturity was $13.1 million within one year, $20.9 million within two to five years, $1.3 million within six to ten years, and $0.3 million thereafter.

Note 5: Pension Plans

Net periodic pension costs were as follows:

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Service cost	$	319		$	333
Interest cost	1,170			1,211
Expected return on plan assets	(1,245		)	(1,226		)
Net amortization	764			736
Net periodic pension cost	$	1,008		$	1,054

Note 6: Product Warranties

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repaired product to our customers. Approximately 95% of our warranty liability relates to our Upholstery segment as we generally warrant our products against defects for one year on fabric and leather, from one to ten years on cushions and padding, and provide a limited lifetime warranty on certain mechanisms and frames. Our warranties cover labor costs relating to our parts for one year. Our warranty period begins when the consumer receives our product. We use considerable judgment in making our estimates, and we record differences between our actual and estimated costs when the differences are known.

A reconciliation of the changes in our product warranty liability is as follows:

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Balance as of the beginning of the period	$	20,511		$	16,870
Accruals during the period	5,135			5,111
Settlements during the period	(4,738		)	(4,751		)
Balance as of the end of the period	$	20,908		$	17,230

As of July 30, 2016, and April 30, 2016, we included $12.9 million and $12.4 million, respectively, of our product warranty liability in accrued expenses and other current liabilities on our consolidated balance sheet, and included the remainder in other long-term liabilities. We recorded accruals during the periods presented primarily to reflect charges that relate to warranties issued during the respective periods.

Note 7: Stock-Based Compensation

The table below summarizes the total stock-based compensation expense we recognized for all outstanding grants in our consolidated statement of income:

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16		7/25/15
Equity-based awards expense	$	3,329	$	3,012
Liability-based awards (income) expense	1,499		(439		)
Total stock-based compensation expense	$	4,828	$	2,573

Stock Options. We granted 497,198 stock options to employees during the first quarter of fiscal 2017, and we have stock options outstanding from previous grants. We account for stock options as equity-based awards because when they are exercised, they will be settled in common shares. We recognize compensation expense for stock options over the vesting period equal to the fair value on the date our compensation committee approved the awards. The vesting period for our stock options ranges from one to four years, with accelerated vesting upon retirement. We expense options granted to retirement-eligible employees immediately. We estimate the fair value of the employee stock options at the date of grant using the Black-Scholes option-pricing model, which requires management to make certain assumptions. We estimate expected volatility based on the historical volatility of our common shares. We base the average expected life on the contractual term of the stock option and expected employee exercise trends. We base the risk-free rate on U.S. Treasury issues with a term equal to the expected life assumed at the date of the grant.

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We calculated the fair value of stock options granted during the first quarter of fiscal 2017 using the following assumptions:

(Unaudited)	Fiscal 2017 grant
Risk-free interest rate	1.30		%
Dividend rate	1.54		%
Expected life in years	5.00
Stock price volatility	38.87		%
Fair value per share	$	7.99

Stock Appreciation Rights (“SARs”). We did not grant any SARs to employees during the first quarter of fiscal 2017, but we have SARs outstanding from previous grants. SARs will be paid in cash upon exercise and, accordingly, we account for SARs as liability-based awards that we re-measure to reflect the fair value at the end of each reporting period. These awards vest at 25% per year, beginning one year from the grant date for a term of four years, with accelerated vesting upon retirement. We expense SARs granted to retirement-eligible employees immediately. We estimate the fair value of SARs at the end of each reporting period using the Black-Scholes option-pricing model, which requires management to make certain assumptions. We base the average expected life on the contractual term of the SARs and expected employee exercise trends (which is consistent with the expected life of our option awards). We base the risk-free rate on U.S. Treasury issues with a term equal to the expected life assumed at the end of the reporting period.

In fiscal 2014 and fiscal 2013, we granted SARs as described in our Annual Reports on Form 10-K for the fiscal years ended April 26, 2014, and April 27, 2013, respectively. At July 30, 2016, we measured the fair value of the SARs granted during these fiscal years using the following assumptions:

(Unaudited)	Fiscal 2014 grant			Fiscal 2013 grant
Risk-free interest rate	0.73		%	0.55		%
Dividend rate	1.32		%	1.32		%
Expected life in years	1.88			0.96
Stock price volatility	29.56		%	33.13		%
Fair value per share	$	11.31		$	17.94

Restricted Stock. We awarded 97,924 shares of restricted stock to employees during the first quarter of fiscal 2017. We issue restricted stock at no cost to the employees, and the shares are held in an escrow account until the vesting period ends. If a recipient’s employment ends during the escrow period (other than through death or disability), the shares are returned at no cost to the company. We account for restricted stock awards as equity-based awards because upon vesting, they will be settled in common shares. The fair value of the restricted stock we awarded in the first quarter of fiscal 2017 was $25.99 per share, the market value of our common shares on the date of grant. We recognize compensation expense for restricted stock over the vesting period equal to the fair value on the date our compensation committee approved the awards. Restricted stock awards vest at 25% per year, beginning one year from the grant date for a term of four years.

Restricted Stock Units. We did not grant any restricted stock units to employees during the first quarter of fiscal 2017, but we have restricted stock units outstanding from previous grants. We account for these units as liability-based awards because upon vesting, these awards will be paid in cash. We measure and recognize initial compensation expense based on the market value (intrinsic value) of our common stock on the grant date and amortize the expense over the vesting period. We re-measure and adjust the liability based on the market

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value (intrinsic value) of our common shares on the last day of the reporting period until paid with a corresponding adjustment to reflect the cumulative amount of compensation expense. The fair value of each outstanding restricted stock unit at July 30, 2016, was $30.22, the market value of our common shares on the last day of the reporting period. Each restricted stock unit is the equivalent of one common share. Restricted stock units vest at 25% per year, beginning one year from the grant date for a term of four years.

Performance Shares. During the first quarter of fiscal 2017, we granted 180,359 performance-based shares, and we have performance-based share awards outstanding from previous grants. Payout of these grants depends on our financial performance (80%) and a market-based condition based on the total return our shareholders receive on their investment in our stock relative to returns earned through investments in other public companies (20%). The performance share opportunity ranges from 50% of the employee’s target award if minimum performance requirements are met to a maximum of 200% of the target award based on the attainment of certain financial and shareholder-return goals over a specific performance period, which is generally three fiscal years.

We account for performance-based shares as equity-based awards because upon vesting, they will be settled in common shares. For shares that vest based on our results relative to the performance goals, we expense as compensation cost the fair value of the shares as of the day we granted the awards recognized over the performance period, taking into account the probability that we will satisfy the performance goals. The fair value of each share of the awards we granted in fiscal 2017 that vest based on attaining performance goals was $24.79, the market value of our common shares on the date we granted the awards less the dividends we expect to pay before the shares vest. For shares that vest based on market conditions, we use a Monte Carlo valuation model to estimate each share’s fair value as of the date of grant, and, similar to the way in which we expense awards of stock options, we expense compensation cost over the vesting period regardless of the value that award recipients ultimately receive. Based on the Monte Carlo model, the fair value as of the grant date of the fiscal 2017 grant of shares that vest based on market conditions was $33.32.

Note 8: Accumulated Other Comprehensive Loss

The activity in accumulated other comprehensive loss for the quarter ended July 30, 2016, and July 25, 2015, is as follows:

(Unaudited, amounts in thousands)	Translation adjustment			Change in fair value of cash flow hedge			Unrealized gain on marketable securities			Net pension amortization and net actuarial loss			Accumulated other comprehensive loss
Balance at April 30, 2016	$	(445	)	$	(286	)	$	1,058		$	(34,327	)	$	(34,000	)
Changes before reclassifications	(40		)	(1,279		)	326			—			(993		)
Amounts reclassified to net income	—			512			5			822			1,339
Tax effect	—			292			(126		)	(313		)	(147		)
Other comprehensive income (loss) attributable to La-Z- Boy Incorporated	(40		)	(475		)	205			509			199
Balance at July 30, 2016	$	(485	)	$	(761	)	$	1,263		$	(33,818	)	$	(33,801	)

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(Unaudited, amounts in thousands)	Translation adjustment			Change in fair value of cash flow hedge			Unrealized gain on marketable securities			Net pension amortization and net actuarial loss			Accumulated other comprehensive loss
Balance at April 25, 2015	$	1,517		$	(560	)	$	1,605		$	(34,701	)	$	(32,139	)
Changes before reclassifications	(2,214		)	(786		)	(276		)	—			(3,276		)
Amounts reclassified to net income	—			467			(171		)	789			1,085
Tax effect	—			122			170			(301		)	(9		)
Other comprehensive income (loss) attributable to La-Z- Boy Incorporated	(2,214		)	(197		)	(277		)	488			(2,200		)
Balance at July 25, 2015	$	(697	)	$	(757	)	$	1,328		$	(34,213	)	$	(34,339	)

We reclassified the unrealized gain on marketable securities from accumulated other comprehensive loss to net income through other income in our consolidated statement of income, reclassified the change in fair value of cash flow hedges to net income through cost of sales, and reclassified the net pension amortization to net income through selling, general and administrative expense.

The components of non-controlling interest for the quarter ended July 30, 2016, and July 25, 2015, were as follows:

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Balance as of the beginning of the period	$	10,070		$	8,954
Net income	202			447
Other comprehensive loss	(28		)	(631		)
Balance as of the end of the period	$	10,244		$	8,770

Note 9: Segment Information

Our reportable operating segments are the Upholstery segment, the Casegoods segment, and the Retail segment.

Upholstery Segment. The Upholstery segment consists primarily of two operating units: La-Z-Boy and England. This segment manufactures and imports upholstered furniture. Upholstered furniture includes recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans and sleeper sofas. The Upholstery segment sells directly to La-Z-Boy Furniture Galleries® stores, operators of La-Z-Boy Comfort Studio® locations and England Custom Comfort Center locations, major dealers, and a wide cross-section of other independent retailers.

Casegoods Segment. The Casegoods segment consists of three brands: American Drew, Hammary, and Kincaid. This segment sells imported wood furniture to furniture retailers. Casegoods product includes bedroom, dining room, entertainment centers, occasional pieces and some manufactured coordinated upholstered furniture. The Casegoods segment sells directly to major dealers, as well as La-Z-Boy Furniture Galleries® stores, and a wide cross-section of other independent retailers.

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Retail Segment. The Retail segment consists of 127 company-owned La-Z-Boy Furniture Galleries® stores. The Retail segment sells upholstered furniture, and some casegoods and other accessories, to end consumers through the retail network.

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Sales
Upholstery segment:
Sales to external customers	$	223,809		$	232,484
Intersegment sales	43,607			40,192
Upholstery segment sales	267,416			272,676

Casegoods segment:
Sales to external customers	20,585			21,202
Intersegment sales	4,453			2,191
Casegoods segment sales	25,038			23,393

Retail segment sales	95,720			86,651

Corporate and Other:
Sales to external customers	669			1,086
Intersegment sales	1,210			516
Corporate and Other sales	1,879			1,602

Eliminations	(49,270		)	(42,899		)
Consolidated sales	$	340,783		$	341,423

Operating Income (Loss)
Upholstery segment	$	29,809		$	24,594
Casegoods segment	2,147			1,690
Retail segment	2,183			4,729
Corporate and Other	(12,371		)	(11,047		)
Consolidated operating income	21,768			19,966
Interest expense	115			112
Interest income	204			205
Other income (expense), net	(72		)	1,968
Income before income taxes	$	21,785		$	22,027

Note 10: Income Taxes

Our effective tax rate for the first quarter of fiscal 2017 was 35.7% compared with 35.9% for the first quarter of fiscal 2016. Our effective tax rate varies from the 35% statutory rate primarily due to state taxes, less the benefit of the U.S. manufacturing deduction and foreign earnings in jurisdictions with lower tax rates than the U.S.

Our consolidated balance sheet at the end of the first quarter of fiscal 2017 reflected a $0.8 million net liability for uncertain income tax positions. We do not expect this net liability to change significantly in the next 12 months. We will either pay or release the liability for uncertain income tax positions as tax audits are completed or settled, statutes of limitation expire or other new information becomes available.

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Note 11: Earnings per Share

Certain share-based compensation awards that entitle their holders to receive non-forfeitable dividends prior to vesting are considered participating securities. We grant restricted stock awards that contain non-forfeitable rights to dividends on unvested shares, and we are required to include these participating securities in calculating our basic earnings per common share, using the two-class method.

The following is a reconciliation of the numerators and denominators we used in our computations of basic and diluted earnings per share:

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Numerator (basic and diluted):
Net income attributable to La-Z-Boy Incorporated	$	13,806		$	13,676
Income allocated to participating securities	(69		)	(78		)
Net income available to common shareholders	$	13,737		$	13,598

Denominator:
Basic weighted average common shares outstanding	49,105			50,583
Add:
Contingent common shares	131			119
Stock option dilution	358			341
Diluted weighted average common shares outstanding	49,594			51,043

The above values for contingent common shares reflect the dilutive effect of common shares that we would have issued to employees under the terms of performance-based share awards if the relevant performance period for the award had been the reporting period.

For the quarter ended July 25, 2015, we had outstanding options to purchase 0.4 million shares with a weighted average exercise price of $26.69. We excluded the effect of these options from our diluted share calculation since, for each period presented, the weighted average exercise price of the options was higher than the average market price, and including the options’ effect would have been anti-dilutive. We did not exclude any outstanding options from the diluted share calculation for the quarter ended July 30, 2016.

Note 12: Fair Value Measurements

Accounting standards require that we put financial assets and liabilities into one of three categories based on the inputs we use to value them:

· Level 1 — Financial assets and liabilities the values of which are based on unadjusted quoted market prices for identical assets and liabilities in an active market that we have the ability to access.

· Level 2 — Financial assets and liabilities the values of which are based on quoted prices in markets that are not active or on model inputs that are observable for substantially the full term of the asset or liability.

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· Level 3 — Financial assets and liabilities the values of which are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement.

In making fair value measurements, accounting standards require that we use observable market data when available. When inputs used to measure fair value fall within different levels of the hierarchy, we categorize the fair value measurement as being in the lowest level that is significant to the measurement. We recognize transfers between levels of the fair value hierarchy at the end of the reporting period in which they occur.

In addition to assets and liabilities that we record at fair value on a recurring basis, we are required to record assets and liabilities at fair value on a non-recurring basis. We measure non-financial assets such as trade names, goodwill, and other long-lived assets at fair value when there is an indicator of impairment, and we record them at fair value only when we recognize an impairment loss.

The following table presents the fair value hierarchy for those assets we measured at fair value on a recurring basis at July 30, 2016, and April 30, 2016:

At July 30, 2016

	Fair Value Measurements
(Unaudited, amounts in thousands)	Level 1(a)		Level 2(a)		Level 3
Assets
Available-for-sale investments	$	1,058	$	35,886	$	—
Trading securities	—		50		—
Held-to-maturity investments	1,829		—		—
Total	$	2,887	$	35,936	$	—

(a) There were no transfers between Level 1 and Level 2 during fiscal 2017.

At April 30, 2016

	Fair Value Measurements
(Unaudited, amounts in thousands)	Level 1(b)		Level 2(b)		Level 3
Assets
Available-for-sale investments	$	1,177	$	36,802	$	—
Held-to-maturity investments	1,826		—		—
Total	$	3,003	$	36,802	$	—

(b) There were no transfers between Level 1 and Level 2 during fiscal 2016.

The fair value measurements for our Level 1 and Level 2 securities are based on quoted prices in active markets, as well as through broker quotes and independent valuation providers, multiplied by the number of shares owned exclusive of any transaction costs.

We hold certain available-for-sale investments that are measured at fair value using net asset value per share under the practical expedient. In accordance with recently issued accounting standards, we no longer include these investments in our asset leveling using the fair value hierarchy. Adoption of this standard had no effect on our consolidated financial statements but as a result of this updated standard, we have reclassified the fiscal 2016 table above to conform to the fiscal 2017 presentation by removing our available-for-sale securities that are measured using net asset value. These investments are still included in the total fair value column of the table in our investment footnote (see Note 4). The fair value of the investments measured using net asset value at July 30, 2016, and April 30, 2016, was $7.5 million and $7.2 million, respectively.

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Note 13: Recent Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued a new accounting standard that requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new standard supersedes virtually all existing authoritative accounting guidance on revenue recognition and requires additional disclosures and greater use of estimates and judgments. During July 2015, the FASB deferred the effective date of the revenue recognition guidance by one year, thus making the new accounting standard effective for our fiscal year 2019. We are assessing the impact this guidance will have on our consolidated financial statements and financial statement disclosures.

In January 2016, the FASB issued a new accounting standard that requires equity investments to be measured at fair value with the fair value changes to be recognized through net income. This standard does not apply to investments that are accounted for under the equity method of accounting, or that result in consolidation of the invested entity. We currently hold equity investments that are measured at fair value at the end of each reporting period, and we recognize the fair value changes through other comprehensive income (loss) as unrealized gains (losses). Based on the fair value of our unrealized loss as of April 30, 2016, adoption of this standard would be immaterial to our consolidated financial statements. Adoption of this standard will be required for our fiscal year 2019 financial statements.

In February 2016, the FASB issued a new accounting standard requiring all operating leases that a lessee enters into to be recorded on its balance sheet. The lessee will record an asset for the right to use the underlying asset for the lease term and a liability for the contractual lease payments. This guidance is effective for our fiscal year 2020. We are assessing the impact this guidance will have on our consolidated financial statements and related disclosures.

In March 2016, the FASB issued a new accounting standard focused on simplifying the accounting for share-based payments. The guidance includes changes to the accounting for income taxes related to share-based payments as well as changes to the presentation of these tax impacts on the statement of cash flows. This guidance will be applicable for our fiscal year 2018. We are assessing the impact this guidance will have on our consolidated financial statements.

In June 2016, the FASB issued a new accounting standard that amends current guidance on other-than-temporary impairments of available-for-sale debt securities. This amended guidance requires the use of an allowance to record estimated credit losses on these assets when the fair value is below the amortized cost of the asset. This standard also removes the evaluation of the length of time that a security has been in a loss position to avoid recording a credit loss. We are required to adopt this standard for our fiscal year 2021 and apply it through a cumulative-effect adjustment to retained earnings. We are assessing the impact this guidance will have on our consolidated financial statements and disclosures.

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

We have prepared this Management’s Discussion and Analysis as an aid to understanding our financial results. It should be read in conjunction with the accompanying Consolidated Financial Statements and related Notes to Consolidated Financial Statements. After a cautionary note about forward-looking statements, we begin with an introduction to our key businesses and then provide discussions of our results of operations, liquidity and capital resources, and critical accounting policies.

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Cautionary Statement Concerning Forward-Looking Statements

We make forward-looking statements in this report, and our representatives may make oral forward-looking statements from time to time. Generally, forward-looking statements include information concerning possible or assumed future actions, events or results of operations. More specifically, forward-looking statements may include information regarding:

· future income, margins and cash flows

· future economic performance

· future growth

· industry and importing trends

· adequacy and cost of financial resources

· management plans

Forward-looking statements also include those preceded or followed by the words “anticipates,” “believes,” “estimates,” “hopes,” “plans,” “could,” “intends” and “expects” or similar expressions. With respect to all forward-looking statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.

Actual results could differ materially from those we anticipate or project due to a number of factors, including: (a) changes in consumer confidence and demographics; (b) the possibility of a recession; (c) changes in the real estate and credit markets and their effects on our customers, consumers and suppliers; (d) international political unrest, terrorism or war; (e) volatility in energy and other commodities prices; (f) the impact of logistics on imports and exports; (g) interest rate and currency exchange rate changes; (h) operating factors, such as supply, labor or distribution disruptions (e.g. port strikes); (i) changes in the domestic or international regulatory environment; (j) adoption of new accounting principles; (k) severe weather or other natural events such as hurricanes, earthquakes, flooding, tornadoes and tsunamis; (l) our ability to procure fabric rolls and leather hides or cut-and-sewn fabric and leather sets domestically or abroad; (m) information technology conversions or system failures and our ability to recover from a system failure; (n) effects of our brand awareness and marketing programs; (o) the discovery of defects in our products resulting in delays in manufacturing, recall campaigns, reputational damage, or increased warranty costs; (p) litigation arising out of alleged defects in our products; (q) unusual or significant litigation; (r) our ability to locate new La-Z-Boy Furniture Galleries® stores (or store owners) and negotiate favorable lease terms for new or existing locations; (s) the results of our restructuring actions; (t) the impact of potential goodwill or intangible asset impairments; and (u) those matters discussed in Item 1A of our fiscal 2016 Annual Report on Form 10-K and other factors identified from time-to-time in our reports filed with the Securities and Exchange Commission. We undertake no obligation to update or revise any forward-looking statements, whether to reflect new information or new developments or for any other reason.

Introduction

Our Business

We manufacture, market, import, export, distribute and retail upholstery furniture products. In addition, we import, distribute and retail accessories and casegoods (wood) furniture products. We are the leading global producer of reclining chairs and the second largest manufacturer/distributor of residential furniture in the United States. The La-Z-Boy Furniture Galleries® stores retail network is the third largest retailer of single-branded furniture in the United States. We have seven major North American manufacturing locations and six retail regional distribution centers in the United States to support our speed-to-market and customization strategy.

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We sell our products, primarily in the United States and Canada but also internationally, to furniture retailers and directly to consumers through stores that we own and operate. The centerpiece of our retail distribution strategy is our network of 342 La-Z-Boy Furniture Galleries® stores and 551 La-Z-Boy Comfort Studio® locations, each dedicated to marketing our La-Z-Boy branded products. We consider this dedicated space to be “branded outlets” or “proprietary.” In addition to the almost 900 branded outlets dedicated to selling La-Z-Boy product (La-Z-Boy Furniture Galleries® stores and Comfort Studio® locations), approximately 1,900 other dealers also sell La-Z-Boy. We own 127 of the La-Z-Boy Furniture Galleries® stores. The remainder of the La-Z-Boy Furniture Galleries® stores, as well as all 551 La-Z-Boy Comfort Studio® locations, are independently owned and operated. La-Z-Boy Furniture Galleries® stores help consumers furnish their homes by combining the style, comfort and quality of La-Z-Boy furniture with our available In-Home Design service. La-Z-Boy Comfort Studio® locations are defined spaces within larger independent retailers that are dedicated to displaying and selling La-Z-Boy branded products. Our other brands, which include England, Kincaid, American Drew, and Hammary (approximately half of Hammary’s sales flow through the La-Z-Boy Furniture Galleries® store network), enjoy distribution through almost 1,600 dealers combined. Kincaid and England have their own dedicated proprietary in-store programs with almost 500 outlets and over 1.5 million square feet of proprietary floor space. In total, our proprietary floor space encompasses approximately 9.4 million square feet.

Our goal is to deliver value to our shareholders with improved sales and earnings over the long term through executing on our strategic initiatives. The foundation of our strategic initiatives is driving profitable sales growth in all areas of our business, but most importantly in our flagship La-Z-Boy brand. We are striving for this growth in four ways:

· We are expanding our branded distribution channels by executing our 4-4-5 store growth initiative, through which we planned to expand the La-Z-Boy Furniture Galleries® stores network to 400 stores averaging $4 million in annual sales per store, over the five-year period that began with fiscal 2014. Through this initiative, we intend not only to increase the number of stores in the network but also to improve their quality, including upgrading old-format stores to our new design concept through remodels and relocations. This initiative has already delivered results for us as reflected in the network’s achievement of our average sales per store target of $4 million during calendar 2015, more than two years ahead of schedule. With the increases in average revenue per store that we have already achieved, we believe the network may deliver our targeted economic value over the five-year period even though we now expect the build-out of our store network to extend beyond five years. In addition, we are increasing our La-Z-Boy Comfort Studio® locations, our store-within-a-store format, as another avenue to expand our branded distribution channels, with a target of 600 La-Z-Boy Comfort Studio® locations. We expect these initiatives to generate growth in our Retail segment through an increased company-owned store count, and to generate growth in our wholesale Upholstery segment as our proprietary distribution network expands, in both cases with higher average sales per store.

· We are growing the size of our company-owned retail business by acquiring La-Z-Boy Furniture Galleries® stores that are owned by our independent dealers, primarily in markets that can be serviced through our retail regional distribution centers, where we see opportunity for growth, or where we believe we have opportunities for further market penetration.

· We are increasing our market share with the growth of sales through our multi-channel distribution network. In addition to the almost 900 branded outlets dedicated to selling La-Z-Boy product (La-Z-Boy Furniture Galleries® stores and La-Z-Boy Comfort Studio® locations), approximately 1,900 other dealers sell La-Z-Boy products, providing us the benefit of multi-channel distribution. These outlets include some of the best known names in the industry, such as Art Van, Nebraska Furniture Mart, and Slumberland. Additionally, our other brands, including England, American Drew, Hammary, and Kincaid, enjoy distribution through almost 1,600 dealers combined. We believe there is significant growth potential for our brands through these retail channels.

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· We are also striving to increase our market share in stationary upholstered furniture through a combination of our Live Life Comfortably® marketing campaign, featuring Brooke Shields as our brand ambassador, and our innovative and on-trend product. We continue to invest in this campaign, aimed at changing the image of our brand and widening La-Z-Boy’s appeal among a broader consumer demographic. While we are known for our iconic recliners, we sell more of all the other types of furniture combined in our portfolio than recliners and believe we have the potential to expand those sales. Integral to our Live Life Comfortably® campaign is our Urban Attitudes® collection of smaller-scale stationary furniture targeted at a more style-conscious demographic, younger consumers, and people who live in smaller spaces in urban locations. Stationary upholstery furniture is a significant share of the industry’s total upholstery furniture sales, and we believe that over time we can capture a larger share of demand for these products.

Our reportable operating segments are the Upholstery segment, the Casegoods segment and the Retail segment.

· Upholstery Segment. Our Upholstery segment is our largest business and consists primarily of two operating units: La-Z-Boy, our largest operating unit, and our England subsidiary. Our Upholstery segment manufactures and imports upholstered furniture such as recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans and sleeper sofas. The Upholstery segment sells directly to La-Z-Boy Furniture Galleries® stores, operators of La-Z-Boy Comfort Studio® and England Custom Comfort Center locations, major dealers and a wide cross-section of other independent retailers.

· Casegoods Segment. Our Casegoods segment is an importer, marketer and distributor of casegoods (wood) furniture such as bedroom sets, dining room sets, entertainment centers and occasional pieces, and also manufactures some coordinated upholstered furniture. The Casegoods segment consists of three brands: American Drew, Hammary, and Kincaid. The Casegoods segment sells directly to major dealers, as well as La-Z-Boy Furniture Galleries® stores, and a wide cross-section of other independent retailers.

· Retail Segment. Our Retail segment consists of 127 company-owned La-Z-Boy Furniture Galleries® stores. The Retail segment primarily sells upholstered furniture, in addition to some casegoods and other accessories, to the end consumer through our retail network.

Results of Operations

Fiscal 2017 First Quarter Compared with Fiscal 2016 First Quarter

La-Z-Boy Incorporated

(Unaudited, amounts in	Quarter Ended			Quarter Ended			%
thousands, except percentages)	7/30/16			7/25/15			Change
Sales	$	340,783		$	341,423		(0.2	)%
Operating income	21,768			19,966			9.0	%
Operating margin	6.4		%	5.8		%

Sales

Consolidated sales decreased $0.6 million in the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016. The decrease was due to lower sales in our Upholstery segment, somewhat offset by higher sales in our Retail and Casegoods segments. Our Upholstery segment sales decrease was due to changes in our product mix, lower volume, and higher promotional activity. Our Retail segment sales increase was

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driven by new and acquired stores, and the sales increase in our Casegoods segment was due to higher volume.

Operating Margin

Our operating margin improved 0.6 percentage points for the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016.

· Our gross margin improved 2.8 percentage points in the first quarter of fiscal 2017 compared with the same period a year ago.

· Gross margin in our Upholstery segment improved due to supply chain efficiencies and changes in our product mix. In addition, our gross margin was impacted by favorable legal settlements in both periods, with the benefit being 0.2 percentage points higher in the first quarter of fiscal 2017 when compared with the first quarter of fiscal 2016.

· Our Casegoods segment’s gross margin improved due to higher volume and lower discounting as it related to discontinued product in last year’s first quarter.

· Our gross margin improved 1.0 percentage point due to changes in our consolidated sales mix. Our consolidated sales mix changed due to the growth of our Retail segment, which has a higher gross margin than our wholesale segments.

· Selling, General, and Administrative (“SG&A”) expenses as a percentage of sales increased 2.2 percentage points in the first quarter fiscal 2017 compared with the same period a year ago.

· Advertising expense as a percentage of sales was 0.9 percentage points higher in the first quarter of fiscal 2017 compared with the same period a year ago, as we strategically increased spending in our Live Life Comfortably® marketing campaign and on promotional marketing to support our retail stores and enhance our share of voice in selected markets.

· Incentive compensation costs as a percentage of sales were 0.6 percentage points higher in the first quarter of fiscal 2017 compared with the same period a year ago. Incentive compensation costs were higher primarily due to a $4.35 increase in our stock price during the first quarter of fiscal 2017 compared with a $2.51 decrease in our stock price during the first quarter of fiscal 2016. Several of our share-based compensation awards are liability-based awards, and their cumulative expense to date is adjusted at the end of each quarter based on the stock price on the last day of the reporting quarter.

· Our SG&A expense as a percentage of sales increased 1.4 percentage points in the first quarter of fiscal 2017 due to the growth of our Retail segment, which has a higher level of SG&A expense as a percentage of sales than our wholesale segments.

· Partially offsetting these increases were legal fees that were 0.2 percentage points lower as a percentage of sales in the first quarter of fiscal 2017 compared with the same period a year ago. We incurred legal costs in the prior year, related to a legal matter that is currently requiring few resources as we await a court ruling on our affirmative defenses.

These items are further explained in the discussion of each segment’s results later in this Management’s Discussion and Analysis.

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Upholstery Segment

(Unaudited, amounts in	Quarter Ended			Quarter Ended			%
thousands, except percentages)	7/30/16			7/25/15			Change
Sales	$	267,416		$	272,676		(1.9	)%
Operating income	29,809			24,594			21.2	%
Operating margin	11.1		%	9.0		%

Sales

Our Upholstery segment’s sales decreased $5.3 million in the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016. Our product mix in the first quarter of fiscal 2017 shifted to more recliners and stationary sofas and fewer motion sofas compared with the same period a year ago. Stationary sofas and recliners have a lower average selling price than motion sofas. Additionally, our product mix shifted to more fabric units and fewer leather units. Fabric units also have a lower average selling price than leather units. Together, these changes in our product mix resulted in a 0.7% decrease in sales compared with the prior year quarter. Also contributing to the sales decline in the first quarter of fiscal 2017 was higher discounting of discontinued frames and fabrics compared with the first quarter of fiscal 2016, which resulted in a 0.6% decrease in sales, as well as lower unit volume, which drove a 0.5% decrease in sales when compared with the first quarter of fiscal 2016.

Operating Margin

Our Upholstery segment’s operating margin improved 2.1 percentage points in the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016.

· The segment’s gross margin increased 2.1 percentage points during the first quarter of fiscal 2017 compared with the same period a year ago.

· Improved efficiencies in our supply chain, including procurement, manufacturing operations and logistics, provided a 1.5 percentage points benefit in the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016.

· Our product mix in the first quarter of fiscal 2017 shifted to more recliners and stationary sofas and fewer motion sofas, as well as more fabric units and fewer leather units. Recliners and stationary sofas have a higher gross margin rate than motion sofas, and fabric units have a higher gross margin rate than leather units. Together these changes resulted in a 0.7 percentage points improvement in the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016.

· In addition, favorable legal settlements enhanced our gross margin in both periods, with the benefit being 0.3 percentage points higher in the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016.

· Higher discounting related to discontinued product partially offset these improvements, resulting in a 0.4 percentage points decrease in the segment’s gross margin rate in the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016.

· The segment’s SG&A expense as a percentage of sales was flat during the first quarter of fiscal 2017 compared with the same period a year ago.

· Legal fees were 0.4 percentage points lower as a percentage of sales in the first quarter of fiscal 2017 compared with the same period a year ago. We incurred legal costs in the prior year, primarily related to a pending legal matter that is currently requiring few resources as we await a court ruling on our affirmative defenses.

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· Advertising expense was 0.2 percentage points higher as a percentage of sales in the first quarter of fiscal 2017 compared with the same period a year ago, due to strategically higher spending on our Live Life Comfortably® marketing campaign.

Casegoods Segment

(Unaudited, amounts in	Quarter Ended			Quarter Ended			%
thousands, except percentages)	7/30/16			7/25/15			Change
Sales	$	25,038		$	23,393		7.0	%
Operating income	2,147			1,690			27.0	%
Operating margin	8.6		%	7.2		%

Sales

Our Casegoods segment’s sales increased $1.6 million in the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016 due to higher volume as a result of being in a better in-stock position and improvement in our product lines.

Operating Margin

Our Casegoods segment’s operating margin improved 1.4 percentage points in the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016.

· The segment’s gross margin increased 1.0 percentage point during the first quarter of fiscal 2017 compared with the same period a year ago, due to the increased volume and discounting on discontinued product. As a result of closing our domestic manufacturing operations in the fourth quarter of fiscal 2015, we were discounting the discontinued product lines that were not going to be sourced overseas.

· The segment’s SG&A expense as a percentage of sales decreased 0.4 percentage points in the first quarter of fiscal 2017 compared with the same period a year ago, primarily due to the absorption of fixed SG&A costs resulting from the higher sales volume.

Retail Segment

(Unaudited, amounts in	Quarter Ended			Quarter Ended			%
thousands, except percentages)	7/30/16			7/25/15			Change
Sales	$	95,720		$	86,651		10.5	%
Operating income	2,183			4,729			(53.8	)%
Operating margin	2.3		%	5.5		%

Sales

Our Retail segment’s sales increased $9.1 million in the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016. Our acquired stores added $9.8 million in sales for the segment in the first quarter of fiscal 2017, and our new stores that were not open in the prior-year period contributed $3.0 million in sales for the segment. These increases were somewhat offset by 4.4% lower sales in stores that have been open for a minimum of 12 months, a $3.7 million decrease in sales in the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016. This decrease was primarily driven by lower store traffic, but its impact was somewhat offset by an increase in average ticket resulting from higher In-Home Design and custom orders.

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Operating Margin

Our Retail segment’s operating margin decreased 3.2 percentage points in the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016.

· The segment’s gross margin was flat in the first quarter of fiscal 2017 compared with the same period a year ago.

· The segment’s SG&A expense as a percentage of sales increased 3.2 percentage points in the first quarter of fiscal 2017 compared with the same period a year ago.

· Advertising expense was 2.3 percentage points higher as a percentage of sales, as we strategically increased spending in our Live Life Comfortably® marketing campaign and on promotional marketing to enhance our share of voice in selected markets.

· SG&A costs were also higher as a percentage of sales in the first quarter of fiscal 2017 because our stores that have been open for a minimum of 12 months produced lower sales, and many of our costs are fixed (primarily occupancy and administrative costs).

Corporate and Other

(Unaudited, amounts in	Quarter Ended			Quarter Ended			%
thousands, except percentages)	7/30/16			7/25/15			Change
Sales	$	1,879		$	1,602		17.3	%
Eliminations	(49,270		)	(42,899		)	(14.9	)%
Operating loss	(12,371		)	(11,047		)	(12.0	)%

Sales

Sales increased in the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016 due to intercompany commission revenue charged to our reportable segments by our global trading company in Hong Kong. Operations of our global trading company were just beginning in early fiscal 2016, and resulted in lower commissions charged during that quarter compared with the first quarter of fiscal 2017.

Eliminations increased in the first quarter of fiscal 2017 as compared with the first quarter of fiscal 2016 due to higher sales from our Upholstery and Casegoods segments to our Retail segment as a result of the increased sales in our Retail segment, as well as the elimination of the intercompany commissions of our global trading company in Hong Kong.

Operating Loss

Our Corporate and Other operating loss was $1.3 million higher in the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016, primarily due to higher incentive compensation costs. Several of our share-based compensation awards are liability-based awards, and their cumulative expense to date is adjusted at the end of each quarter based on the stock price on the last day of the reporting quarter. Incentive compensation costs were higher in the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016 due to a $4.35 increase in our stock price over the first quarter of fiscal 2017 compared with a $2.51 decrease in our stock price over the first quarter of fiscal 2016.

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Other Income (Expense)

Other income (expense) was $0.1 million of expense and $2.0 million of income in the first quarter of fiscal 2017 and fiscal 2016, respectively. We realized foreign currency exchange rate losses in first quarter of fiscal 2017 and realized foreign currency exchange rate gains in the first quarter of fiscal 2016.

Income Taxes

Our effective tax rate in the first quarter of fiscal 2017 was 35.7% as compared with 35.9% in the first quarter of fiscal 2016. Our effective tax rate varies from the 35% statutory rate primarily due to state taxes, less the benefit of the U.S. manufacturing deduction and foreign earnings in jurisdictions with lower tax rates than the U.S.

Liquidity and Capital Resources

Our sources of liquidity include cash and equivalents, short-term and long-term investments, cash from operations, and amounts available under our credit facility. We believe these sources remain adequate to meet our short-term and long-term liquidity requirements, finance our long-term growth plans, meet debt service, and fulfill other cash requirements for day-to-day operations, dividends to shareholders and capital expenditures. We had cash and equivalents of $117.2 million at July 30, 2016, compared with $112.4 million at April 30, 2016. In addition, we had investments to enhance our returns on cash of $32.7 million at July 30, 2016, compared with $33.6 million at April 30, 2016.

We maintain a revolving credit facility secured primarily by all of our accounts receivable, inventory, and cash deposit and securities accounts. Availability under the agreement fluctuates according to a borrowing base calculated on eligible accounts receivable and inventory. The credit agreement includes affirmative and negative covenants that apply under certain circumstances, including a fixed-charge coverage ratio requirement that applies when excess availability under the line is less than certain thresholds. At July 30, 2016, we were not subject to the fixed-charge coverage ratio requirement, had no borrowings outstanding under the agreement, and had excess availability of $145.2 million of the $150.0 million credit commitment.

Capital expenditures for the first quarter of fiscal 2017 were $5.2 million compared with $6.5 million during the first quarter of fiscal 2016. We have no material contractual commitments outstanding for future capital expenditures. We expect capital expenditures to be in the range of $35 million to $40 million for all of fiscal 2017.

Our board of directors has sole authority to determine if and when we will declare future dividends and on what terms. We expect the board to continue declaring regular quarterly cash dividends for the foreseeable future, but it may discontinue doing so at any time.

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The following table illustrates the main components of our cash flows:

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Cash Flows Provided By (Used For)
Net cash provided by operating activities	$	34,050		$	1,530
Net cash (used for) provided by investing activities	(14,487		)	1,334
Net cash used for financing activities	(14,878		)	(12,840		)
Exchange rate changes	116			(807		)
Change in cash and equivalents	$	4,801		$	(10,783	)

Operating Activities

During the first quarter of fiscal 2017, net cash provided by operating activities was $34.1 million. Our cash provided by operating activities was primarily attributable to net income we generated during the quarter and cash collections of $17.7 million from accounts receivable. Our accounts receivable are typically at a lower level in the first quarter of our fiscal year because our sales volume is lower while we continue to collect on prior receivables. In the first quarter of fiscal 2017, the net income we generated and cash we collected was somewhat offset by cash we used to settle incentive compensation awards during the quarter. Our increased cash provided by operating activities in the first quarter of fiscal 2017 compared with the first quarter of fiscal 2016 was also due to our inventory levels being in a better position at the end of fiscal 2016 and our ability to maintain those levels during the first quarter of fiscal 2017.

During the first quarter of fiscal 2016, net cash provided by operating activities was $1.5 million. Our cash provided by operating activities was attributable to cash collections of accounts receivable of $24.6 million, driven by the continued improvement in the financial health of our customer base, especially our independent La-Z-Boy Furniture Galleries® dealers, and net income generated during the quarter. Somewhat offsetting these items were cash used to settle incentive compensation awards, and cash used to fund increases in raw material inventories of $22.2 million. Our raw material inventory was higher in the first quarter of fiscal 2016 to enable us to better service our customers and our sales growth.

Investing Activities

During the first quarter of fiscal 2017, net cash used for investing activities was $14.5 million, which included $5.3 million to fund the acquisition of a retail store, $5.2 million for capital expenditures, and $7.7 million for purchases of investments, offset by proceeds of $3.7 million from the sale of investments. Capital expenditures during the period primarily related to spending on manufacturing machinery and equipment, and our continued ERP system implementation.

During the first quarter of fiscal 2016, net cash provided by investing activities was $1.3 million, which included $13.0 million in proceeds from the sale of investments, offset by purchases of investments of $5.4 million in life insurance contracts related to our executive deferred compensation plan and our performance compensation retirement plan and capital expenditures of $6.5 million. Capital expenditures during the quarter primarily related to spending on manufacturing machinery and equipment, our continued ERP system implementation, and the relocation of one of our retail regional distribution centers.

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Financing Activities

During the first quarter of fiscal 2017, net cash used for financing activities was $14.9 million, including $13.6 million that we used to purchase our common stock and $4.9 million that we paid to our shareholders in quarterly dividends.

During the first quarter of fiscal 2016, net cash used for financing activities was $12.8 million, including $9.2 million that we used to purchase our common stock and $4.1 million that we paid to our shareholders in quarterly dividends.

Our board of directors has authorized us to purchase our company stock. As of July 30, 2016, 3.5 million shares remained available for purchase pursuant to this authorization. The authorization has no expiration date. We purchased 0.5 million shares during the first quarter of fiscal 2017, for a total of $13.6 million. With the cash flows we anticipate generating in the remainder of fiscal 2017, we expect to continue being opportunistic in purchasing company stock.

Other

Our consolidated balance sheet at the end of the first quarter of fiscal 2017 reflected a $0.8 million net liability for uncertain income tax positions. We do not expect that the net liability for uncertain income tax positions will significantly change within the next 12 months. We will pay or release the liability for uncertain income tax positions as tax audits are completed or settled, statutes of limitation expire or other new information becomes available.

During the first quarter of fiscal 2017, there were no material changes to the information about our contractual obligations and commitments shown in the table contained in our fiscal 2016 Annual Report on Form 10-K.

We do not expect our continuing compliance with existing federal, state and local statutes dealing with protection of the environment to have a material effect on our capital expenditures, earnings, competitive position or liquidity.

Critical Accounting Policies

We disclosed our critical accounting policies in our fiscal 2016 Annual Report on Form 10-K. There were no material changes to our critical accounting policies during the first quarter of fiscal 2017.

Recent Accounting Pronouncements

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period, and we recognize the fair value changes through other comprehensive income (loss) as unrealized gains (losses). Based on the fair value of our unrealized loss as of April 30, 2016, adoption of this standard would be immaterial to our consolidated financial statements. Adoption of this standard will be required for our fiscal year 2019 financial statements.

Business Outlook

We are optimistic about our business for the long term and believe we are making the correct strategic investments to drive sales growth, profitability and returns to shareholders. In addition to the execution of our 4-4-5 store build-out strategy, we are working to increase other distribution channels, expand our share of the stationary upholstery category and capitalize on our integrated retail strategy through growing the number of stores owned by the company. At the same time, we are developing a number of new growth strategies to take us well into the future as we capitalize on our brand strength and efficient operating platform.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

During the first quarter of fiscal 2017, there were no material changes from the information contained in Item 7A of our Annual Report on Form 10-K for fiscal 2016.

ITEM 4. CONTROLS AND PROCEDURES

Disclosure Controls and Procedures. As of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures, as such term is defined in Rule 13a-15(e) of the Exchange Act. Based upon that evaluation, our Chief Executive Officer and Chief Financial Officer concluded that such disclosure controls and procedures are effective to ensure that information required to be disclosed in our periodic reports filed under the Exchange Act is recorded, processed, summarized and reported within the time periods specified by the Securities and Exchange Commission’s rules and forms and is accumulated and communicated to our management, including

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our Chief Executive Officer and Chief Financial Officer, as appropriate to allow timely decisions regarding required disclosure.

Changes in Internal Control over Financial Reporting. We are implementing an enterprise resource planning (“ERP”) system in our largest operating unit. We expect to finish implementing the sales order management component of the system by the end of fiscal 2018. The implementation of an ERP system will affect the processes that constitute our internal control over financial reporting and will require testing for effectiveness as the implementation progresses. There were no other changes in our internal controls over financial reporting that occurred during the fiscal quarter ended July 30, 2016, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

PART II — OTHER INFORMATION

ITEM 1A. RISK FACTORS

We disclosed our risk factors in our Form 10-K for the fiscal year ended April 30, 2016. There have been no material changes to our risk factors during the first quarter of fiscal 2017.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Our board of directors has authorized the purchase of company stock. As of July 30, 2016, 3.5 million shares remained available for purchase pursuant to this authorization. We purchased 0.5 million shares during the first quarter of fiscal 2017, for a total of $13.6 million. With the cash flows we anticipate generating in fiscal 2017, we expect to continue being opportunistic in purchasing company stock.

The following table summarizes our purchases of company stock during the quarter ended July 30, 2016:

(Amounts in thousands, except per share data)	Total number of shares purchased (1)	Average price paid per share		Total number of shares purchased as part of publicly announced plan	Maximum number of shares that may yet be purchased under the plan
Fiscal May (May 1 – June 4, 2016)	335	$	25.61	335	3,708
Fiscal June (June 5 – July 2, 2016)	254	$	26.24	189	3,519
Fiscal July (July 3 – July 30, 2016)	—	—		—	3,519
Fiscal First Quarter of 2017	589	$	25.88	524	3,519

(1) In addition to the 523,951 shares we purchased during the quarter as part of our publicly announced, board authorized plan described above, this column includes 65,463 shares we purchased from employees to satisfy their withholding tax obligations when their restricted shares and performance-based shares vested.

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ITEM 6. EXHIBITS

Exhibit Number		Description
(31.1)		Certifications of Chief Executive Officer pursuant to Rule 13a-14(a)
(31.2)		Certifications of Chief Financial Officer pursuant to Rule 13a-14(a)
(32)		Certifications of Executive Officers pursuant to 18 U.S.C. Section 1350(b)
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(101.SCH)		XBRL Taxonomy Extension Schema Document
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(101.DEF)		XBRL Taxonomy Extension Definition Linkbase Document

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	LA-Z-BOY INCORPORATED
	(Registrant)

Date: August 23, 2016


	BY:	/s/ Margaret L. Mueller
	Margaret L. Mueller
	Vice President of Finance
	On behalf of the Registrant and as
	Chief Accounting Officer

EX-31.1 2 a16-15293_1ex31d1.htm EX-31.1

Exhibit 31.1

CERTIFICATIONS OF CHIEF EXECUTIVE OFFICER
PURSUANT TO RULE 13a-14(a)

I, Kurt L. Darrow, certify that:

1. I have reviewed this quarterly report on Form 10-Q of La-Z-Boy Incorporated;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.


Date: August 23, 2016	/s/ Kurt L. Darrow
	Kurt L. Darrow
	Chairman, President and Chief Executive Officer

EX-31.2 3 a16-15293_1ex31d2.htm EX-31.2

Exhibit 31.2

CERTIFICATIONS OF CHIEF FINANCIAL OFFICER

PURSUANT TO RULE 13a-14(a)

I, Louis M. Riccio Jr., certify that:

1. I have reviewed this quarterly report on Form 10-Q of La-Z-Boy Incorporated;

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.


Date: August 23, 2016	/s/ Louis M. Riccio Jr.
	Louis M. Riccio Jr.
	Senior Vice President and Chief Financial Officer

EX-32 4 a16-15293_1ex32.htm EX-32

EXHIBIT (32)

CERTIFICATION OF EXECUTIVE OFFICERS*

Pursuant to 18 U.S.C. section 1350, each of the undersigned officers of La-Z-Boy Incorporated (the “Company”) hereby certifies, to such officer’s knowledge, that the Company’s Quarterly Report on Form 10-Q for the period ended July 30, 2016 (the “Report”) fully complies with the requirements of section 13(a) or 15(d), as applicable, of the Securities Exchange Act of 1934 and the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

/s/ Kurt L. Darrow
Kurt L. Darrow
Chairman, President and Chief Executive Officer
August 23, 2016

/s/ Louis M. Riccio Jr.
Louis M. Riccio Jr.
Senior Vice President and Chief Financial Officer
August 23, 2016

*The foregoing certification is being furnished solely pursuant to 18 U.S.C. section 1350 and is not being filed as part of the Report or as a separate disclosure document.

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us-gaap:StockAppreciationRightsSARSMember 2016-05-01 2016-07-30 0000057131 us-gaap:RestrictedStockUnitsRSUMember 2016-05-01 2016-07-30 0000057131 us-gaap:RestrictedStockMember 2016-05-01 2016-07-30 0000057131 us-gaap:PerformanceSharesMember us-gaap:MinimumMember 2016-05-01 2016-07-30 0000057131 us-gaap:PerformanceSharesMember us-gaap:MaximumMember 2016-05-01 2016-07-30 0000057131 lzb:UpholsterySegmentMember 2016-05-01 2016-07-30 0000057131 lzb:CasegoodsSegmentMember 2016-07-30 0000057131 lzb:DealershipAssetAcquisitionsIn2017Member 2016-05-01 2016-07-30 0000057131 2015-04-26 2015-07-25 0000057131 us-gaap:StockOptionMember 2015-04-26 2015-07-25 0000057131 2016-08-16 0000057131 2016-05-01 2016-07-30 lzb:store xbrli:pure lzb:segment lzb:item iso4217:USD iso4217:USD xbrli:shares xbrli:shares false --04-29 Q1 2017 2016-07-30 10-Q 0000057131 49169033 Yes Large Accelerated Filer LA-Z-BOY INC 26.69 <div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">   <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 76.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:60.86%;padding:0pt;">   </td> <td valign="bottom" style="width:03.22%;padding:0pt;">   </td> <td colspan="5" valign="bottom" style="width:34.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Quarter Ended </td> <td valign="bottom" style="width:01.30%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:60.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> (Unaudited, amounts in thousands) </td> <td valign="bottom" style="width:03.22%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 7/30/16 </td> <td valign="bottom" style="width:03.26%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 7/25/15 </td> <td valign="bottom" style="width:01.30%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:60.86%;background-color: #CCEEFF;padding:0pt;"> Balance as of the beginning of the period </td> <td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.18%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,070 </td> <td valign="bottom" style="width:03.26%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.20%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,954 </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:60.86%;padding:0pt;"> Net income </td> <td valign="bottom" style="width:03.22%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>202 </td> <td valign="bottom" style="width:03.26%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.70%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>447 </td> <td valign="bottom" style="width:01.30%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:60.86%;background-color: #CCEEFF;padding:0pt;"> Other comprehensive loss </td> <td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(28 </td> <td valign="bottom" style="width:03.26%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:15.70%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(631 </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;"> ) </td> </tr> <tr> <td valign="top" style="width:60.86%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.26%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:60.86%;padding:0pt;"> Balance as of the end of the period </td> <td valign="bottom" style="width:03.22%;padding:0pt;">   </td> <td valign="bottom" style="width:01.48%;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.18%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,244 </td> <td valign="bottom" style="width:03.26%;padding:0pt;">   </td> <td valign="bottom" style="width:01.48%;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.18%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,770 </td> <td valign="bottom" style="width:01.30%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:60.86%;padding:0pt;">   </td> <td valign="bottom" style="width:03.22%;padding:0pt;">   </td> <td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:14.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.26%;padding:0pt;">   </td> <td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:14.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;padding:0pt;">   </td> </tr> </table></div>   </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div> -439000 1499000 3012000 3329000 0 3 2 0.005 0.007 2.00 0.50 0.25 0.25 0.25 0.80 0.20 P3Y 0.95 P1Y P1Y P10Y P1Y <div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">   <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 76.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:53.04%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> (Unaudited) </td> <td valign="bottom" style="width:03.26%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:19.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Fiscal 2014 grant </td> <td valign="bottom" style="width:03.26%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:19.56%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Fiscal 2013 grant </td> <td valign="bottom" style="width:01.30%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:53.04%;background-color: #CCEEFF;padding:0pt;"> Risk-free interest rate </td> <td valign="bottom" style="width:03.26%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:19.56%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.73  </td> <td valign="bottom" style="width:03.26%;background-color: #CCEEFF;padding:0pt;"> % </td> <td colspan="2" valign="bottom" style="width:19.56%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.55  </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;"> % </td> </tr> <tr> <td valign="top" style="width:53.04%;padding:0pt;"> Dividend rate </td> <td valign="bottom" style="width:03.26%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:19.56%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.32  </td> <td valign="bottom" style="width:03.26%;padding:0pt;"> % </td> <td colspan="2" valign="bottom" style="width:19.56%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.32  </td> <td valign="bottom" style="width:01.30%;padding:0pt;"> % </td> </tr> <tr> <td valign="top" style="width:53.04%;background-color: #CCEEFF;padding:0pt;"> Expected life in years </td> <td valign="bottom" style="width:03.26%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:19.56%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1.88  </td> <td valign="bottom" style="width:03.26%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:19.56%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>0.96  </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:53.04%;padding:0pt;"> Stock price volatility </td> <td valign="bottom" style="width:03.26%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:19.56%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29.56  </td> <td valign="bottom" style="width:03.26%;padding:0pt;"> % </td> <td colspan="2" valign="bottom" style="width:19.56%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>33.13  </td> <td valign="bottom" style="width:01.30%;padding:0pt;"> % </td> </tr> <tr> <td valign="top" style="width:53.04%;background-color: #CCEEFF;padding:0pt;"> Fair value per share </td> <td valign="bottom" style="width:03.26%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:18.08%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>11.31  </td> <td valign="bottom" style="width:03.26%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:18.08%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>17.94  </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>   </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div> P1Y P1Y P1Y 1

44661000

45064000

-34000000

-33801000

279339000

283980000

8292000

3329000

1264000

1137000

2573000

4828000

3145000

3070000

340000

77000

7200000

7500000

400000

800029000

798069000

481972000

470373000

13491000

31659000

12806000

31615000

1408000

1231000

176000

1000

1737000

1514000

222000

1000

165000

135000

9000

21000

164000

136000

5000

23000

13100000

300000

1300000

20900000

677000

31000

506000

36000

5300000

400000

500000

98302000

87519000

112358000

117159000

-10783000

4801000

0.08

0.10

150000000

49331000

49169000

49331000

49169000

11476000

14005000

-184000

174000

11292000

14179000

<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">   Note 8: Accumulated Other Comprehensive Loss   The activity in accumulated other comprehensive loss for the quarter ended July 30, 2016, and July 25, 2015, is as follows:   <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:36.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> (Unaudited, amounts in thousands) </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Translation adjustment </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Change in fair value of cash flow hedge </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Unrealized gain on marketable securities </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Net pension amortization and net actuarial loss </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Accumulated other comprehensive loss </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;background-color: #CCEEFF;padding:0pt;"> Balance at April 30, 2016 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(445 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(286 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,058 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(34,327 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(34,000 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;"> Changes before reclassifications </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(40 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,279 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>326 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;"> — </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(993 </td> <td valign="bottom" style="width:01.00%;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;background-color: #CCEEFF;padding:0pt;"> Amounts reclassified to net income </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;"> — </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>512 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>822 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,339 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;"> Tax effect </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;"> — </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>292 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(126 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(313 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(147 </td> <td valign="bottom" style="width:01.00%;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;background-color: #CCEEFF;padding:0pt;"> Other comprehensive income (loss) attributable to La-Z- Boy Incorporated </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(40 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(475 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>205 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>509 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>199 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;"> Balance at July 30, 2016 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(485 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(761 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,263 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(33,818 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(33,801 </td> <td valign="bottom" style="width:01.00%;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> </table></div>   <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:36.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> (Unaudited, amounts in thousands) </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Translation adjustment </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Change in fair value of cash flow hedge </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Unrealized gain on marketable securities </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Net pension amortization and net actuarial loss </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Accumulated other comprehensive loss </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;background-color: #CCEEFF;padding:0pt;"> Balance at April 25, 2015 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,517 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(560 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,605 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(34,701 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(32,139 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;"> Changes before reclassifications </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,214 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(786 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(276 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;"> — </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,276 </td> <td valign="bottom" style="width:01.00%;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;background-color: #CCEEFF;padding:0pt;"> Amounts reclassified to net income </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;"> — </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>467 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(171 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>789 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,085 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;"> Tax effect </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;"> — </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>122 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>170 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(301 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(9 </td> <td valign="bottom" style="width:01.00%;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;background-color: #CCEEFF;padding:0pt;"> Other comprehensive income (loss) attributable to La-Z- Boy Incorporated </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,214 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(197 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(277 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>488 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,200 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;"> Balance at July 25, 2015 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(697 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(757 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,328 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(34,213 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(34,339 </td> <td valign="bottom" style="width:01.00%;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> </table></div>   We reclassified the unrealized gain on marketable securities from accumulated other comprehensive loss to net income through other income in our consolidated statement of income, reclassified the change in fair value of cash flow hedges to net income through cost of sales, and reclassified the net pension amortization to net income through selling, general and administrative expense.   The components of non-controlling interest for the quarter ended July 30, 2016, and July 25, 2015, were as follows:   <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 76.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:60.86%;padding:0pt;">   </td> <td valign="bottom" style="width:03.22%;padding:0pt;">   </td> <td colspan="5" valign="bottom" style="width:34.62%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Quarter Ended </td> <td valign="bottom" style="width:01.30%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:60.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> (Unaudited, amounts in thousands) </td> <td valign="bottom" style="width:03.22%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 7/30/16 </td> <td valign="bottom" style="width:03.26%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 7/25/15 </td> <td valign="bottom" style="width:01.30%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:60.86%;background-color: #CCEEFF;padding:0pt;"> Balance as of the beginning of the period </td> <td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.18%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,070 </td> <td valign="bottom" style="width:03.26%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.20%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,954 </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:60.86%;padding:0pt;"> Net income </td> <td valign="bottom" style="width:03.22%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>202 </td> <td valign="bottom" style="width:03.26%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.70%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>447 </td> <td valign="bottom" style="width:01.30%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:60.86%;background-color: #CCEEFF;padding:0pt;"> Other comprehensive loss </td> <td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(28 </td> <td valign="bottom" style="width:03.26%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:15.70%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(631 </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;"> ) </td> </tr> <tr> <td valign="top" style="width:60.86%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.22%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.26%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.70%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:60.86%;padding:0pt;"> Balance as of the end of the period </td> <td valign="bottom" style="width:03.22%;padding:0pt;">   </td> <td valign="bottom" style="width:01.48%;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.18%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>10,244 </td> <td valign="bottom" style="width:03.26%;padding:0pt;">   </td> <td valign="bottom" style="width:01.48%;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.18%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,770 </td> <td valign="bottom" style="width:01.30%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:60.86%;padding:0pt;">   </td> <td valign="bottom" style="width:03.22%;padding:0pt;">   </td> <td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:14.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.26%;padding:0pt;">   </td> <td valign="bottom" style="width:01.48%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:14.18%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.30%;padding:0pt;">   </td> </tr> </table></div>   </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div>

217191000

207252000

148000

-1076000

41683000

42612000

-736000

-764000

1226000

1245000

1211000

1170000

1054000

1008000

333000

319000

6271000

6800000

18141000

4923000

0.27

0.28

0.27

0.28

0.359

0.357

0.35

-807000

116000

363000

1137000

0.0132

0.0055

0.0073

P371D

P364D

37193000

41152000

4000000

124232000

133531000

1826000

1829000

22027000

21785000

7904000

7777000

-24610000

-17664000

2021000

403000

22159000

-510000

-19223000

-6044000

6933000

1467000

7000

119000

131000

341000

358000

8558000

9008000

112000

115000

97861000

97540000

197357000

197958000

21768000

175589000

176190000

87905000

89931000

11591000

10487000

205000

204000

3003000

36802000

1177000

1826000

36802000

2887000

35936000

1058000

1829000

35886000

50000

<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">   Note 4: Investments   We have current and long-term investments intended to enhance returns on our cash as well as to fund future obligations of our non-qualified defined benefit retirement plan, our executive deferred compensation plan, and our performance compensation retirement plan. Our short-term investments are included in other current assets and our long-term investments are included in other long-term assets on our consolidated balance sheet. The following summarizes our investments at July 30, 2016, and April 30, 2016:   <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 83.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:64.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> (Unaudited, amounts in thousands) </td> <td valign="bottom" style="width:02.98%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 7/30/16 </td> <td valign="bottom" style="width:03.00%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 4/30/16 </td> <td valign="bottom" style="width:01.20%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:64.00%;background-color: #CCEEFF;padding:0pt;"> Short-term investments: </td> <td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.20%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:64.00%;padding:0pt;"> Available-for-sale investments </td> <td valign="bottom" style="width:02.98%;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;padding:0pt;"> $ </td> <td valign="bottom" style="width:13.06%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,806  </td> <td valign="bottom" style="width:03.00%;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;padding:0pt;"> $ </td> <td valign="bottom" style="width:13.06%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,491  </td> <td valign="bottom" style="width:01.20%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:64.00%;background-color: #CCEEFF;padding:0pt;"> Trading securities </td> <td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>50  </td> <td valign="bottom" style="width:03.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;background-color: #CCEEFF;padding:0pt;"> — </td> <td valign="bottom" style="width:01.20%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:64.00%;padding:0pt;"> Held-to-maturity investments </td> <td valign="bottom" style="width:02.98%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,829  </td> <td valign="bottom" style="width:03.00%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,826  </td> <td valign="bottom" style="width:01.20%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:64.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.98%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.00%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.20%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:64.00%;background-color: #CCEEFF;padding:0pt;"> Total short-term investments </td> <td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>14,685  </td> <td valign="bottom" style="width:03.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>15,317  </td> <td valign="bottom" style="width:01.20%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:64.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.98%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;padding:0pt;">   </td> <td valign="bottom" style="width:03.00%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;padding:0pt;">   </td> <td valign="bottom" style="width:01.20%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:64.00%;background-color: #CCEEFF;padding:0pt;"> Long-term investments: </td> <td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.20%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:64.00%;padding:0pt;"> Available-for-sale investments </td> <td valign="bottom" style="width:02.98%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>31,615  </td> <td valign="bottom" style="width:03.00%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>31,659  </td> <td valign="bottom" style="width:01.20%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:64.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.98%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.00%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.20%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:64.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.20%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:64.00%;padding:0pt;"> Total available-for-sale, trading, & held-to-maturity investments </td> <td valign="bottom" style="width:02.98%;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;padding:0pt;"> $ </td> <td valign="bottom" style="width:13.06%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,300  </td> <td valign="bottom" style="width:03.00%;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;padding:0pt;"> $ </td> <td valign="bottom" style="width:13.06%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,976  </td> <td valign="bottom" style="width:01.20%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:64.00%;padding:0pt;">   </td> <td valign="bottom" style="width:02.98%;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.00%;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:13.06%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.20%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:64.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:14.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.20%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:64.00%;padding:0pt;"> Investments to enhance returns on cash </td> <td valign="bottom" style="width:02.98%;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;padding:0pt;"> $ </td> <td valign="bottom" style="width:13.06%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>32,749  </td> <td valign="bottom" style="width:03.00%;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;padding:0pt;"> $ </td> <td valign="bottom" style="width:13.06%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>33,583  </td> <td valign="bottom" style="width:01.20%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:64.00%;background-color: #CCEEFF;padding:0pt;"> Investments to fund compensation/retirement plans </td> <td valign="bottom" style="width:02.98%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:13.06%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,551  </td> <td valign="bottom" style="width:03.00%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.34%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:13.04%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>13,393  </td> <td valign="bottom" style="width:01.20%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>   The following is a summary of the unrealized gains, unrealized losses, and fair value by investment type at July 30, 2016, and April 30, 2016:   At July 30, 2016   <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:49.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> (Unaudited, amounts in thousands) </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Gross Unrealized Gains </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Gross Unrealized Losses </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Fair Value </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:49.50%;background-color: #CCEEFF;padding:0pt;"> Equity securities </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:13.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,514 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:13.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(136 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:10.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,399 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:49.50%;padding:0pt;"> Fixed income </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>222 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(5 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:12.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>35,573 </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:49.50%;background-color: #CCEEFF;padding:0pt;"> Mutual funds </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;background-color: #CCEEFF;padding:0pt;"> — </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;background-color: #CCEEFF;padding:0pt;"> — </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>50 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:49.50%;padding:0pt;"> Other </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(23 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:12.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,278 </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:49.50%;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:49.50%;background-color: #CCEEFF;padding:0pt;"> Total securities </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:13.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,737 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:13.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(164 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:10.86%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,300 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:49.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:13.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:10.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>   At April 30, 2016   <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:49.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> (Unaudited, amounts in thousands) </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Gross Unrealized Gains </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Gross Unrealized Losses </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Fair Value </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:49.50%;background-color: #CCEEFF;padding:0pt;"> Equity securities </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:13.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,231 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:13.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(135 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:10.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>8,150 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:49.50%;padding:0pt;"> Fixed income </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>176 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(9 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:12.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>36,527 </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:49.50%;background-color: #CCEEFF;padding:0pt;"> Other </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(21 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:12.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,299 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:49.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:12.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:49.50%;padding:0pt;"> Total securities </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:13.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,408 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:13.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(165 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:10.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>46,976 </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:49.50%;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:13.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:13.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:10.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> </table></div>   The following table summarizes sales of available-for-sale securities:   <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 76.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:60.86%;padding:0pt;">   </td> <td valign="bottom" style="width:03.24%;padding:0pt;">   </td> <td colspan="5" valign="bottom" style="width:34.60%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Quarter Ended </td> <td valign="bottom" style="width:01.30%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:60.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> (Unaudited, amounts in thousands) </td> <td valign="bottom" style="width:03.24%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 7/30/16 </td> <td valign="bottom" style="width:03.26%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.66%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 7/25/15 </td> <td valign="bottom" style="width:01.30%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:60.86%;background-color: #CCEEFF;padding:0pt;"> Proceeds from sales </td> <td valign="bottom" style="width:03.24%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.18%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>3,670 </td> <td valign="bottom" style="width:03.26%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.48%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.18%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>12,983 </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:60.86%;padding:0pt;"> Gross realized gains </td> <td valign="bottom" style="width:03.24%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>31 </td> <td valign="bottom" style="width:03.26%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.66%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>677 </td> <td valign="bottom" style="width:01.30%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:60.86%;background-color: #CCEEFF;padding:0pt;"> Gross realized losses </td> <td valign="bottom" style="width:03.24%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:15.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(36 </td> <td valign="bottom" style="width:03.26%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:15.66%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(506 </td> <td valign="bottom" style="width:01.30%;background-color: #CCEEFF;"> ) </td> </tr> </table></div>   The fair value of fixed income available-for-sale securities by contractual maturity was $13.1 million within one year, $20.9 million within two to five years, $1.3 million within six to ten years, and $0.3 million thereafter. </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div>

800029000

798069000

157427000

151843000

800000

513000

448000

290000

266000

46976000

33583000

13393000

8150000

36527000

15317000

2299000

46300000

32749000

13551000

50000

8399000

35573000

14685000

2278000

8954000

8770000

10070000

10244000

-12840000

-14878000

1334000

-14487000

1530000

34050000

13676000

13806000

447000

202000

13598000

13737000

13598000

13737000

127

-786000

-276000

-3276000

-2214000

-1279000

326000

-993000

-40000

19966000

1690000

-11047000

4729000

24594000

21768000

2147000

-12371000

2183000

29809000

38503000

39082000

59033000

64089000

-277000

205000

-197000

-475000

-2845000

-68000

-2831000

-2456000

-1861000

-595000

171000

199000

-28000

-631000

-28000

488000

-197000

-277000

-2200000

-2214000

509000

-475000

205000

199000

-40000

-488000

-509000

301000

-122000

-170000

9000

313000

-292000

126000

147000

112476000

106513000

84877000

87550000

1968000

-72000

9171000

13567000

4055000

4923000

5281000

5422000

7695000

6506000

5209000

5000000

12983000

3670000

12983000

3670000

279000

35000

145000

2564000

16870000

17230000

20511000

20908000

4751000

4738000

5111000

5135000

14123000

80963000

1711000

79252000

14008000

202000

13806000

171590000

170835000

146545000

128959000

-789000

-467000

171000

-1085000

-822000

-512000

-5000

-1339000

122000

89000

8977000

8983000

252472000

248636000

341423000

21202000

1086000

86651000

232484000

-42899000

1602000

-2191000

-516000

-40192000

23393000

272676000

340783000

20585000

669000

95720000

223809000

-49270000

1879000

-4453000

-1210000

-43607000

25038000

267416000

<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">   <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:36.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> (Unaudited, amounts in thousands) </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Translation adjustment </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Change in fair value of cash flow hedge </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Unrealized gain on marketable securities </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Net pension amortization and net actuarial loss </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Accumulated other comprehensive loss </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;background-color: #CCEEFF;padding:0pt;"> Balance at April 30, 2016 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(445 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(286 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,058 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(34,327 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(34,000 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;"> Changes before reclassifications </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(40 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(1,279 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>326 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;"> — </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(993 </td> <td valign="bottom" style="width:01.00%;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;background-color: #CCEEFF;padding:0pt;"> Amounts reclassified to net income </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;"> — </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>512 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>5 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>822 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,339 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;"> Tax effect </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;"> — </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>292 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(126 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(313 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(147 </td> <td valign="bottom" style="width:01.00%;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;background-color: #CCEEFF;padding:0pt;"> Other comprehensive income (loss) attributable to La-Z- Boy Incorporated </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(40 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(475 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>205 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>509 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>199 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;"> Balance at July 30, 2016 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(485 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(761 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,263 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(33,818 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.86%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(33,801 </td> <td valign="bottom" style="width:01.00%;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.86%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> </table></div>   <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 100.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:36.50%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> (Unaudited, amounts in thousands) </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Translation adjustment </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Change in fair value of cash flow hedge </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Unrealized gain on marketable securities </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Net pension amortization and net actuarial loss </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Accumulated other comprehensive loss </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;background-color: #CCEEFF;padding:0pt;"> Balance at April 25, 2015 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,517 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(560 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,605 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(34,701 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td valign="bottom" style="width:01.12%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(32,139 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;"> Changes before reclassifications </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,214 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(786 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(276 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;"> — </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(3,276 </td> <td valign="bottom" style="width:01.00%;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;background-color: #CCEEFF;padding:0pt;"> Amounts reclassified to net income </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;padding:0pt;"> — </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>467 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(171 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>789 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,085 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;"> Tax effect </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;padding:0pt;"> — </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>122 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>170 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(301 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(9 </td> <td valign="bottom" style="width:01.00%;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;background-color: #CCEEFF;padding:0pt;"> Other comprehensive income (loss) attributable to La-Z- Boy Incorporated </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,214 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(197 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(277 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>488 </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(2,200 </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:10.00%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.00%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;"> Balance at July 25, 2015 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(697 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(757 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,328 </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(34,213 </td> <td valign="bottom" style="width:02.50%;"> ) </td> <td valign="bottom" style="width:01.12%;padding:0pt;"> $ </td> <td valign="bottom" style="width:08.88%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(34,339 </td> <td valign="bottom" style="width:01.00%;"> ) </td> </tr> <tr> <td valign="top" style="width:36.50%;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:02.50%;padding:0pt;">   </td> <td valign="bottom" style="width:01.12%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:08.88%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.00%;padding:0pt;">   </td> </tr> </table></div>   </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div>

<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">   <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 73.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="5" valign="bottom" style="width:36.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Quarter Ended </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:59.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> (Unaudited, amounts in thousands) </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 7/30/16 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 7/25/15 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Sales </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Upholstery segment: </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Sales to external customers </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.82%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>223,809 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>232,484 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Intersegment sales </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>43,607 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>40,192 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Upholstery segment sales </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>267,416 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>272,676 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Casegoods segment: </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Sales to external customers </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>20,585 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,202 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Intersegment sales </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,453 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,191 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Casegoods segment sales </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,038 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23,393 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Retail segment sales </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>95,720 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>86,651 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Corporate and Other: </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Sales to external customers </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>669 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,086 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Intersegment sales </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,210 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>516 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Corporate and Other sales </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,879 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,602 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Eliminations </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(49,270 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(42,899 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;"> ) </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Consolidated sales </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.82%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>340,783 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.84%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>341,423 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:14.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Operating Income (Loss) </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Upholstery segment </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.82%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,809 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24,594 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Casegoods segment </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,147 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,690 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Retail segment </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,183 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,729 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Corporate and Other </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(12,371 </td> <td valign="bottom" style="width:03.40%;"> ) </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(11,047 </td> <td valign="bottom" style="width:01.36%;"> ) </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Consolidated operating income </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,768 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19,966 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Interest expense </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>115 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>112 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Interest income </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>204 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>205 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Other income (expense), net </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(72 </td> <td valign="bottom" style="width:03.40%;"> ) </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,968 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Income before income taxes </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.82%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,785 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.82%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22,027 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:14.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:14.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>   </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div>

<div> <div style="margin-left:0%;margin-right:0%;"></div><div style="margin-left:0%;margin-right:0%;">   Note 9: Segment Information   Our reportable operating segments are the Upholstery segment, the Casegoods segment, and the Retail segment.   Upholstery Segment. The Upholstery segment consists primarily of two operating units: La-Z-Boy and England. This segment manufactures and imports upholstered furniture. Upholstered furniture includes recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans and sleeper sofas. The Upholstery segment sells directly to La-Z-Boy Furniture Galleries® stores, operators of La-Z-Boy Comfort Studio® locations and England Custom Comfort Center locations, major dealers, and a wide cross-section of other independent retailers.   Casegoods Segment. The Casegoods segment consists of three brands: American Drew, Hammary, and Kincaid. This segment sells imported wood furniture to furniture retailers. Casegoods product includes bedroom, dining room, entertainment centers, occasional pieces and some manufactured coordinated upholstered furniture. The Casegoods segment sells directly to major dealers, as well as La-Z-Boy Furniture Galleries® stores, and a wide cross-section of other independent retailers.   Retail Segment. The Retail segment consists of 127 company-owned La-Z-Boy Furniture Galleries® stores. The Retail segment sells upholstered furniture, and some casegoods and other accessories, to end consumers through the retail network.   <div style="width:100%;"><table cellpadding="0" cellspacing="0" style="border-collapse:collapse;width: 73.00%;margin-left:0pt;"> <tr> <td valign="bottom" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="5" valign="bottom" style="width:36.14%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> Quarter Ended </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="bottom" style="width:59.10%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> (Unaudited, amounts in thousands) </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 7/30/16 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;"> 7/25/15 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Sales </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Upholstery segment: </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Sales to external customers </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.82%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>223,809 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>232,484 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Intersegment sales </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>43,607 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>40,192 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Upholstery segment sales </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>267,416 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>272,676 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Casegoods segment: </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Sales to external customers </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>20,585 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,202 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Intersegment sales </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,453 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,191 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Casegoods segment sales </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>25,038 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>23,393 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Retail segment sales </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>95,720 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>86,651 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Corporate and Other: </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Sales to external customers </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>669 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,086 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Intersegment sales </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,210 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>516 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Corporate and Other sales </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,879 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,602 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Eliminations </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(49,270 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;"> ) </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(42,899 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;"> ) </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Consolidated sales </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.82%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>340,783 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.84%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>341,423 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:14.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:14.84%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Operating Income (Loss) </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Upholstery segment </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.82%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>29,809 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.84%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>24,594 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Casegoods segment </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,147 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,690 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Retail segment </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>2,183 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>4,729 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Corporate and Other </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(12,371 </td> <td valign="bottom" style="width:03.40%;"> ) </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(11,047 </td> <td valign="bottom" style="width:01.36%;"> ) </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Consolidated operating income </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,768 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>19,966 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Interest expense </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>115 </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>112 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Interest income </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>204 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>205 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;"> Other income (expense), net </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>(72 </td> <td valign="bottom" style="width:03.40%;"> ) </td> <td colspan="2" valign="bottom" style="width:16.38%;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>1,968 </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.36%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;padding:0pt;">   </td> <td colspan="2" valign="bottom" style="width:16.38%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:1pt solid #000000 ;border-right:1pt none #D9D9D9 ;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;"> Income before income taxes </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.82%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>21,785 </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;background-color: #CCEEFF;padding:0pt;"> $ </td> <td valign="bottom" style="width:14.82%;background-color: #CCEEFF;;font-family:Times New Roman,Times,serif;font-size:10pt;text-align:right;" nowrap="nowrap"><div style="float:left"></div>22,027 </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> <tr> <td valign="top" style="width:59.10%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:14.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:03.40%;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.54%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:14.82%;border-top:1pt none #D9D9D9 ;border-left:1pt none #D9D9D9 ;border-bottom:2pt double #000000 ;border-right:1pt none #D9D9D9 ;background-color: #CCEEFF;padding:0pt;">   </td> <td valign="bottom" style="width:01.36%;background-color: #CCEEFF;padding:0pt;">   </td> </tr> </table></div>   </div><div style="margin-left:0%;margin-right:0%;"> </div><div style="margin-left:0%;margin-right:0%;"></div> </div>

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Common Stock, Dividends, Per Share, Declared Dividends declared per share (in dollars per share) CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] Other comprehensive income (loss) Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax Currency translation adjustment Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax Change in fair value of cash flow hedges, net of tax Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax Net unrealized gain (loss) on marketable securities, net of tax Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax Net pension amortization, net of tax Other Comprehensive Income (Loss), Net of Tax Total other comprehensive income (loss) Other comprehensive income (loss) Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest Total comprehensive income before allocation to noncontrolling interests Comprehensive Income (Loss), Net of Tax, Attributable to Noncontrolling Interest Comprehensive (income) loss attributable to noncontrolling interests Comprehensive Income (Loss), Net of Tax, Attributable to Parent Comprehensive income attributable to La-Z-Boy Incorporated CONSOLIDATED BALANCE SHEET Assets, Current [Abstract] Current assets Cash and Cash Equivalents, at Carrying Value Cash and equivalents at end of period Cash and equivalents at beginning of period Cash and equivalents Restricted Cash and Cash Equivalents, Current Restricted cash Receivables, Net, Current Receivables, net of allowance of $3,070 at 7/30/16 and $3,145 at 4/30/16 Inventory, Net Inventories, net Inventories, net Other Assets, Current Other current assets Assets, Current Total current assets Property, Plant and Equipment, Net Property, plant and equipment, net Goodwill Goodwill Intangible Assets, Net (Excluding Goodwill) Other intangible assets Deferred Tax Assets, Net, Noncurrent Deferred income taxes - long-term Other Assets, Noncurrent Other long-term assets, net Assets Total assets Liabilities, Current [Abstract] Current liabilities Long-term Debt and Capital Lease Obligations, Current Current portion of long-term debt Accounts Payable, Current Accounts payable Other Liabilities, Current Accrued expenses and other current liabilities Liabilities, Current Total current liabilities Long-term Debt and Capital Lease Obligations Long-term debt Other Liabilities, Noncurrent Other long-term liabilities Commitments and Contingencies Contingencies and commitments Stockholders' Equity Attributable to Parent [Abstract] Shareholders' equity Preferred Stock, Value, Issued Preferred shares - 5,000 authorized; none issued Common Stock, Value, Issued Common shares, $1 par value - 150,000 authorized; 49,169 outstanding at 7/30/16 and 49,331 outstanding at 4/30/16 Additional Paid in Capital, Common Stock Capital in excess of par value Retained Earnings (Accumulated Deficit) Retained earnings Accumulated Other Comprehensive Income (Loss), Net of Tax Accumulated other comprehensive loss Stockholders' Equity Attributable to Parent Balance Balance Total La-Z-Boy Incorporated shareholders' equity Stockholders' Equity Attributable to Noncontrolling Interest Balance as of the end of the period Balance as of the beginning of the period Noncontrolling interests Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest Balance Balance Total equity Liabilities and Equity Total liabilities and equity Allowance for Doubtful Accounts Receivable, Current Receivables, allowance (in dollars) Preferred Stock, Shares Authorized Preferred shares, authorized (in shares) Preferred Stock, Shares Issued Preferred shares, issued (in shares) Common Stock, Par or Stated Value Per Share Common shares, par value (in dollars per share) Common Stock, Shares Authorized Common 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Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock appreciation rights, including, but not limited to: (a) expected term of stock appreciation rights, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. Schedule of Share-Based Payment Award SARs Valuation Assumptions [Table Text Block] Fair value assumptions for SARs Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] Activity in accumulated other comprehensive loss Tabular disclosure of the components of noncontrolling interest. Components of Non-controlling Interest [Table Text Block] Components of non-controlling interest Schedule of Segment Reporting Information, by Segment [Table Text Block] Schedule of segment information Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] Reconciliation of numerators and denominators used in the computation of basic and diluted earnings per share Fair Value, Assets Measured on Recurring Basis [Table Text Block] Fair value hierarchy for assets measured at fair value on a recurring basis Fiscal Period Duration Length of fiscal year Represents the percentage improvement in gross margin resulting from a legal settlement. Percentage Of Gross Margin Improved Due To Legal Settlement Improvement in gross margin due to legal settlement (as a percent) Schedule of Business Acquisitions, by Acquisition [Table] Business Acquisition [Line Items] Acquisitions Number of Stores Number of stores Business Combination, Consideration Transferred Total purchase price The gain or loss recognized for the settlement of pre-existing license arrangements with the acquiree. Gain (Loss) on Settlement of Preexisting License Arrangements Settlement gain or loss Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Indefinite-Lived Intangible Assets Indefinite-lived intangible asset Inventory, Raw Materials, Gross Raw materials Inventory, Work in Process, Gross Work in process Inventory, Finished Goods, Gross Finished goods Inventory, Gross FIFO inventories Inventory, LIFO Reserve Excess of FIFO over LIFO Investment Holdings [Table] Balance Sheet Location [Axis] Balance Sheet Location [Domain] Balance Sheet Location [Domain] Other Current Assets [Member] Other current assets Other Noncurrent Assets [Member] Other long-term assets Investment Secondary Categorization [Axis] Investments By Secondary Categorization [Domain] Investments by Secondary Categorization [Domain] Portion of investments held for the purpose of enhancing returns on cash. 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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Jul. 30, 2016	Aug. 16, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	LA-Z-BOY INC
Entity Central Index Key	0000057131
Current Fiscal Year End Date	--04-29
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		49,169,033
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jul. 30, 2016

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CONSOLIDATED STATEMENT OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jul. 30, 2016	Jul. 25, 2015
CONSOLIDATED STATEMENT OF INCOME
Sales	$ 340,783	$ 341,423
Cost of sales	207,252	217,191
Gross profit	133,531	124,232
Selling, general and administrative expense	111,763	104,266
Operating income	21,768	19,966
Interest expense	115	112
Interest income	204	205
Other income (expense), net	(72)	1,968
Income before income taxes	21,785	22,027
Income tax expense	7,777	7,904
Net income	14,008	14,123
Net income attributable to noncontrolling interests	(202)	(447)
Net income attributable to La-Z-Boy Incorporated	$ 13,806	$ 13,676
Basic weighted average common shares (in shares)	49,105	50,583
Basic net income attributable to La-Z-Boy Incorporated per share (in dollars per share)	$ 0.28	$ 0.27
Diluted weighted average common shares (in shares)	49,594	51,043
Diluted net income attributable to La-Z-Boy Incorporated per share (in dollars per share)	$ 0.28	$ 0.27
Dividends declared per share (in dollars per share)	$ 0.10	$ 0.08

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CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Jul. 30, 2016	Jul. 25, 2015
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Net income	$ 14,008	$ 14,123
Other comprehensive income (loss)
Currency translation adjustment	(68)	(2,845)
Change in fair value of cash flow hedges, net of tax	(475)	(197)
Net unrealized gain (loss) on marketable securities, net of tax	205	(277)
Net pension amortization, net of tax	509	488
Total other comprehensive income (loss)	171	(2,831)
Total comprehensive income before allocation to noncontrolling interests	14,179	11,292
Comprehensive (income) loss attributable to noncontrolling interests	(174)	184
Comprehensive income attributable to La-Z-Boy Incorporated	$ 14,005	$ 11,476

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CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Jul. 30, 2016	Apr. 30, 2016
Current assets
Cash and equivalents	$ 117,159	$ 112,358
Restricted cash	8,983	8,977
Receivables, net of allowance of $3,070 at 7/30/16 and $3,145 at 4/30/16	128,959	146,545
Inventories, net	176,190	175,589
Other current assets	39,082	38,503
Total current assets	470,373	481,972
Property, plant and equipment, net	170,835	171,590
Goodwill	41,152	37,193
Other intangible assets	9,008	8,558
Deferred income taxes - long-term	42,612	41,683
Other long-term assets, net	64,089	59,033
Total assets	798,069	800,029
Current liabilities
Current portion of long-term debt	266	290
Accounts payable	45,064	44,661
Accrued expenses and other current liabilities	106,513	112,476
Total current liabilities	151,843	157,427
Long-term debt	448	513
Other long-term liabilities	87,550	84,877
Contingencies and commitments
Shareholders' equity
Preferred shares - 5,000 authorized; none issued
Common shares, $1 par value - 150,000 authorized; 49,169 outstanding at 7/30/16 and 49,331 outstanding at 4/30/16	49,169	49,331
Capital in excess of par value	283,980	279,339
Retained earnings	248,636	252,472
Accumulated other comprehensive loss	(33,801)	(34,000)
Total La-Z-Boy Incorporated shareholders' equity	547,984	547,142
Noncontrolling interests	10,244	10,070
Total equity	558,228	557,212
Total liabilities and equity	$ 798,069	$ 800,029

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CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Jul. 30, 2016	Apr. 30, 2016
Current assets
Receivables, allowance (in dollars)	$ 3,070	$ 3,145
Shareholders' equity
Preferred shares, authorized (in shares)	5,000	5,000
Preferred shares, issued (in shares)	0	0
Common shares, par value (in dollars per share)	$ 1	$ 1
Common shares, authorized (in shares)	150,000	150,000
Common shares, outstanding (in shares)	49,169	49,331

XML 17 R6.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jul. 30, 2016	Jul. 25, 2015
Cash flows from operating activities
Net income	$ 14,008	$ 14,123
Adjustments to reconcile net income to cash provided by (used for) operating activities
Deferred income tax expense	(1,076)	148
Provision for doubtful accounts	(77)	(340)
Depreciation and amortization	6,800	6,271
Equity-based compensation expense	3,329	3,012
Change in receivables	17,664	24,610
Change in inventories	510	(22,159)
Change in other assets	(1,467)	(6,933)
Change in payables	403	2,021
Change in other liabilities	(6,044)	(19,223)
Net cash provided by operating activities	34,050	1,530
Cash flows from investing activities
Proceeds from disposals of assets	35	279
Capital expenditures	(5,209)	(6,506)
Purchases of investments	(7,695)	(5,422)
Proceeds from sales of investments	3,670	12,983
Acquisitions, net of cash acquired	(5,281)
Change in restricted cash	(7)
Net cash (used for) provided by investing activities	(14,487)	1,334
Cash flows from financing activities
Payments on debt	(89)	(122)
Stock issued for stock and employee benefit plans	2,564	145
Excess tax benefit on stock option exercises	1,137	363
Purchases of common stock	(13,567)	(9,171)
Dividends paid	(4,923)	(4,055)
Net cash used for financing activities	(14,878)	(12,840)
Effect of exchange rate changes on cash and equivalents	116	(807)
Change in cash and equivalents	4,801	(10,783)
Cash and equivalents at beginning of period	112,358	98,302
Cash and equivalents at end of period	$ 117,159	87,519
Supplemental disclosure of non-cash investing activities
Capital expenditures included in payables		$ 500

XML 18 R7.htm IDEA: XBRL DOCUMENT

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands	Common Shares	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Non-Controlling Interests	Total
Balance at Apr. 25, 2015	$ 50,747	$ 270,032	$ 235,506	$ (32,139)	$ 8,954	$ 533,100
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			79,252		1,711	80,963
Other comprehensive income (loss)				(1,861)	(595)	(2,456)
Stock issued for stock and employee benefit plans, net of cancellations and withholding tax	243	97	(2,068)			(1,728)
Purchases of common stock	(1,659)	(346)	(42,077)			(44,082)
Stock option and restricted stock expense		8,292				8,292
Tax benefit from exercise of options		1,264				1,264
Dividends paid			(18,141)			(18,141)
Balance at Apr. 30, 2016	49,331	279,339	252,472	(34,000)	10,070	557,212
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			13,806		202	14,008
Other comprehensive income (loss)				199	(28)	171
Stock issued for stock and employee benefit plans, net of cancellations and withholding tax	362	2,138	(1,639)			861
Purchases of common stock	(524)	(1,963)	(11,080)			(13,567)
Stock option and restricted stock expense		3,329				3,329
Tax benefit from exercise of options		1,137				1,137
Dividends paid			(4,923)			(4,923)
Balance at Jul. 30, 2016	$ 49,169	$ 283,980	$ 248,636	$ (33,801)	$ 10,244	$ 558,228

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Basis of Presentation	3 Months Ended
Basis of Presentation	Jul. 30, 2016
Basis of Presentation
Basis of Presentation	Note 1: Basis of Presentation The accompanying consolidated financial statements include the consolidated accounts of La-Z-Boy Incorporated and our majority-owned subsidiaries. We derived the April 30, 2016, balance sheet from our audited financial statements. We prepared the interim financial information in conformity with generally accepted accounting principles, which we applied on a basis consistent with those reflected in our fiscal 2016 Annual Report on Form 10-K filed with the Securities and Exchange Commission, but the information does not include all of the disclosures required by generally accepted accounting principles. In management’s opinion, the interim financial information includes all adjustments and accruals, consisting only of normal recurring adjustments (except as otherwise disclosed), that are necessary for a fair statement of results for the respective interim periods. The interim results reflected in the accompanying financial statements are not necessarily indicative of the results of operations which will occur for the full fiscal year ending April 29, 2017. Fiscal 2017 is a 52-week year as compared with fiscal 2016, which was 53 weeks, with the additional week occurring in the fourth quarter of fiscal 2016. During the first quarter of fiscal 2017 and fiscal 2016, we recorded a benefit related to legal settlements as part of cost of sales. The legal settlements increased gross margin by 0.7 percentage points and 0.5 percentage points in the first quarter of fiscal 2017 and fiscal 2016, respectively.

XML 20 R9.htm IDEA: XBRL DOCUMENT

Acquisitions	3 Months Ended
Acquisitions	Jul. 30, 2016
Acquisitions
Acquisitions	Note 2: Acquisitions In the first quarter of fiscal 2017, we acquired the assets of an independent operator of one La-Z-Boy Furniture Galleries® store in Reno, Nevada for $5.3 million. We began including this store in our Retail segment results upon acquisition. Prior to the acquisition, we licensed the exclusive right to own and operate this La-Z-Boy Furniture Galleries® store (and to use the associated trademarks and trade name) in the market to this dealer. We reacquired these rights when we purchased the dealer’s other assets. The effective settlement of this arrangement resulted in no settlement gain or loss as the contractual terms were at market. We recorded an indefinite-lived intangible asset of $0.4 million related to the reacquired rights. We also recognized $4.0 million of goodwill, which primarily relates to the expected synergies resulting from the integration of the acquired store and the anticipated future benefits. We recorded the goodwill and other intangible assets in our Retail segment and will amortize and deduct them for federal income tax purposes over 15 years. Since the impact of this acquisition on our results of operations was not material, pro forma financial information is not required.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

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+ Details

XML 21 R10.htm IDEA: XBRL DOCUMENT

Inventories

3 Months Ended

Jul. 30, 2016

Inventories

Inventories

Note 3: Inventories

A summary of inventories is as follows:

(Unaudited, amounts in thousands)	7/30/16			4/30/16
Raw materials	$	89,931		$	87,905
Work in process	10,487			11,591
Finished goods	97,540			97,861

FIFO inventories	197,958			197,357
Excess of FIFO over LIFO	(21,768		)	(21,768		)

Inventories, net	$	176,190		$	175,589

XML 22 R11.htm IDEA: XBRL DOCUMENT

Investments

3 Months Ended

Jul. 30, 2016

Investments

Investments

Note 4: Investments

(Unaudited, amounts in thousands)	7/30/16		4/30/16
Short-term investments:
Available-for-sale investments	$	12,806	$	13,491
Trading securities	50		—
Held-to-maturity investments	1,829		1,826

Total short-term investments	14,685		15,317

Long-term investments:
Available-for-sale investments	31,615		31,659


Total available-for-sale, trading, & held-to-maturity investments	$	46,300	$	46,976


Investments to enhance returns on cash	$	32,749	$	33,583
Investments to fund compensation/retirement plans	$	13,551	$	13,393

The following is a summary of the unrealized gains, unrealized losses, and fair value by investment type at July 30, 2016, and April 30, 2016:

At July 30, 2016

(Unaudited, amounts in thousands)	Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities	$	1,514	$	(136	)	$	8,399
Fixed income	222		(5		)	35,573
Mutual funds	—		—			50
Other	1		(23		)	2,278

Total securities	$	1,737	$	(164	)	$	46,300

At April 30, 2016

(Unaudited, amounts in thousands)	Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities	$	1,231	$	(135	)	$	8,150
Fixed income	176		(9		)	36,527
Other	1		(21		)	2,299

Total securities	$	1,408	$	(165	)	$	46,976

The following table summarizes sales of available-for-sale securities:

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Proceeds from sales	$	3,670		$	12,983
Gross realized gains	31			677
Gross realized losses	(36		)	(506		)

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References + Details

XML 23 R12.htm IDEA: XBRL DOCUMENT

Pension Plans

3 Months Ended

Jul. 30, 2016

Pension Plans

Pension Plans

Note 5: Pension Plans

Net periodic pension costs were as follows:

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Service cost	$	319		$	333
Interest cost	1,170			1,211
Expected return on plan assets	(1,245		)	(1,226		)
Net amortization	764			736

Net periodic pension cost	$	1,008		$	1,054

XML 24 R13.htm IDEA: XBRL DOCUMENT

Product Warranties

3 Months Ended

Jul. 30, 2016

Product Warranties

Product Warranties

Note 6: Product Warranties

We accrue an estimated liability for product warranties when we recognize revenue on the sale of warranted products. We estimate future warranty claims based on our claims experience and any additional anticipated future costs on previously sold products. We incorporate repair costs into our liability estimates, including materials, labor and overhead amounts necessary to perform repairs and any costs associated with delivering repaired product to our customers. Approximately 95% of our warranty liability relates to our Upholstery segment as we generally warrant our products against defects for one year on fabric and leather, from one to ten years on cushions and padding, and provide a limited lifetime warranty on certain mechanisms and frames. Our warranties cover labor costs relating to our parts for one year. Our warranty period begins when the consumer receives our product. We use considerable judgment in making our estimates, and we record differences between our actual and estimated costs when the differences are known.

A reconciliation of the changes in our product warranty liability is as follows:

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Balance as of the beginning of the period	$	20,511		$	16,870
Accruals during the period	5,135			5,111
Settlements during the period	(4,738		)	(4,751		)

Balance as of the end of the period	$	20,908		$	17,230

XML 25 R14.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation

3 Months Ended

Jul. 30, 2016

Stock-Based Compensation

Stock-Based Compensation

Note 7: Stock-Based Compensation

The table below summarizes the total stock-based compensation expense we recognized for all outstanding grants in our consolidated statement of income:

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16		7/25/15
Equity-based awards expense	$	3,329	$	3,012
Liability-based awards (income) expense	1,499		(439		)

Total stock-based compensation expense	$	4,828	$	2,573

Stock Options. We granted 497,198 stock options to employees during the first quarter of fiscal 2017, and we have stock options outstanding from previous grants. We account for stock options as equity-based awards because when they are exercised, they will be settled in common shares. We recognize compensation expense for stock options over the vesting period equal to the fair value on the date our compensation committee approved the awards. The vesting period for our stock options ranges from one to four years, with accelerated vesting upon retirement. We expense options granted to retirement-eligible employees immediately. We estimate the fair value of the employee stock options at the date of grant using the Black-Scholes option-pricing model, which requires management to make certain assumptions. We estimate expected volatility based on the historical volatility of our common shares. We base the average expected life on the contractual term of the stock option and expected employee exercise trends. We base the risk-free rate on U.S. Treasury issues with a term equal to the expected life assumed at the date of the grant.

We calculated the fair value of stock options granted during the first quarter of fiscal 2017 using the following assumptions:

(Unaudited)	Fiscal 2017 grant
Risk-free interest rate	1.30		%
Dividend rate	1.54		%
Expected life in years	5.00
Stock price volatility	38.87		%
Fair value per share	$	7.99

Stock Appreciation Rights (“SARs”). We did not grant any SARs to employees during the first quarter of fiscal 2017, but we have SARs outstanding from previous grants. SARs will be paid in cash upon exercise and, accordingly, we account for SARs as liability-based awards that we re-measure to reflect the fair value at the end of each reporting period. These awards vest at 25% per year, beginning one year from the grant date for a term of four years, with accelerated vesting upon retirement. We expense SARs granted to retirement-eligible employees immediately. We estimate the fair value of SARs at the end of each reporting period using the Black-Scholes option-pricing model, which requires management to make certain assumptions. We base the average expected life on the contractual term of the SARs and expected employee exercise trends (which is consistent with the expected life of our option awards). We base the risk-free rate on U.S. Treasury issues with a term equal to the expected life assumed at the end of the reporting period.

(Unaudited)	Fiscal 2014 grant			Fiscal 2013 grant
Risk-free interest rate	0.73		%	0.55		%
Dividend rate	1.32		%	1.32		%
Expected life in years	1.88			0.96
Stock price volatility	29.56		%	33.13		%
Fair value per share	$	11.31		$	17.94

Restricted Stock. We awarded 97,924 shares of restricted stock to employees during the first quarter of fiscal 2017. We issue restricted stock at no cost to the employees, and the shares are held in an escrow account until the vesting period ends. If a recipient’s employment ends during the escrow period (other than through death or disability), the shares are returned at no cost to the company. We account for restricted stock awards as equity-based awards because upon vesting, they will be settled in common shares. The fair value of the restricted stock we awarded in the first quarter of fiscal 2017 was $25.99 per share, the market value of our common shares on the date of grant. We recognize compensation expense for restricted stock over the vesting period equal to the fair value on the date our compensation committee approved the awards. Restricted stock awards vest at 25% per year, beginning one year from the grant date for a term of four years.

Restricted Stock Units. We did not grant any restricted stock units to employees during the first quarter of fiscal 2017, but we have restricted stock units outstanding from previous grants. We account for these units as liability-based awards because upon vesting, these awards will be paid in cash. We measure and recognize initial compensation expense based on the market value (intrinsic value) of our common stock on the grant date and amortize the expense over the vesting period. We re-measure and adjust the liability based on the market value (intrinsic value) of our common shares on the last day of the reporting period until paid with a corresponding adjustment to reflect the cumulative amount of compensation expense. The fair value of each outstanding restricted stock unit at July 30, 2016, was $30.22, the market value of our common shares on the last day of the reporting period. Each restricted stock unit is the equivalent of one common share. Restricted stock units vest at 25% per year, beginning one year from the grant date for a term of four years.

Performance Shares. During the first quarter of fiscal 2017, we granted 180,359 performance-based shares, and we have performance-based share awards outstanding from previous grants. Payout of these grants depends on our financial performance (80%) and a market-based condition based on the total return our shareholders receive on their investment in our stock relative to returns earned through investments in other public companies (20%). The performance share opportunity ranges from 50% of the employee’s target award if minimum performance requirements are met to a maximum of 200% of the target award based on the attainment of certain financial and shareholder-return goals over a specific performance period, which is generally three fiscal years.

XML 26 R15.htm IDEA: XBRL DOCUMENT

Accumulated Other Comprehensive Loss

3 Months Ended

Jul. 30, 2016

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

Note 8: Accumulated Other Comprehensive Loss

The activity in accumulated other comprehensive loss for the quarter ended July 30, 2016, and July 25, 2015, is as follows:

(Unaudited, amounts in thousands)	Translation adjustment			Change in fair value of cash flow hedge			Unrealized gain on marketable securities			Net pension amortization and net actuarial loss			Accumulated other comprehensive loss
Balance at April 30, 2016	$	(445	)	$	(286	)	$	1,058		$	(34,327	)	$	(34,000	)
Changes before reclassifications	(40		)	(1,279		)	326			—			(993		)
Amounts reclassified to net income	—			512			5			822			1,339
Tax effect	—			292			(126		)	(313		)	(147		)

Other comprehensive income (loss) attributable to La-Z- Boy Incorporated	(40		)	(475		)	205			509			199

Balance at July 30, 2016	$	(485	)	$	(761	)	$	1,263		$	(33,818	)	$	(33,801	)

(Unaudited, amounts in thousands)	Translation adjustment			Change in fair value of cash flow hedge			Unrealized gain on marketable securities			Net pension amortization and net actuarial loss			Accumulated other comprehensive loss
Balance at April 25, 2015	$	1,517		$	(560	)	$	1,605		$	(34,701	)	$	(32,139	)
Changes before reclassifications	(2,214		)	(786		)	(276		)	—			(3,276		)
Amounts reclassified to net income	—			467			(171		)	789			1,085
Tax effect	—			122			170			(301		)	(9		)

Other comprehensive income (loss) attributable to La-Z- Boy Incorporated	(2,214		)	(197		)	(277		)	488			(2,200		)

Balance at July 25, 2015	$	(697	)	$	(757	)	$	1,328		$	(34,213	)	$	(34,339	)

The components of non-controlling interest for the quarter ended July 30, 2016, and July 25, 2015, were as follows:

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Balance as of the beginning of the period	$	10,070		$	8,954
Net income	202			447
Other comprehensive loss	(28		)	(631		)

Balance as of the end of the period	$	10,244		$	8,770

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

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+ Details

XML 27 R16.htm IDEA: XBRL DOCUMENT

Segment Information

3 Months Ended

Jul. 30, 2016

Segment Information

Segment Information

Note 9: Segment Information

Our reportable operating segments are the Upholstery segment, the Casegoods segment, and the Retail segment.

Upholstery Segment. The Upholstery segment consists primarily of two operating units: La-Z-Boy and England. This segment manufactures and imports upholstered furniture. Upholstered furniture includes recliners and motion furniture, sofas, loveseats, chairs, sectionals, modulars, ottomans and sleeper sofas. The Upholstery segment sells directly to La-Z-Boy Furniture Galleries® stores, operators of La-Z-Boy Comfort Studio® locations and England Custom Comfort Center locations, major dealers, and a wide cross-section of other independent retailers.

Casegoods Segment. The Casegoods segment consists of three brands: American Drew, Hammary, and Kincaid. This segment sells imported wood furniture to furniture retailers. Casegoods product includes bedroom, dining room, entertainment centers, occasional pieces and some manufactured coordinated upholstered furniture. The Casegoods segment sells directly to major dealers, as well as La-Z-Boy Furniture Galleries® stores, and a wide cross-section of other independent retailers.

Retail Segment. The Retail segment consists of 127 company-owned La-Z-Boy Furniture Galleries® stores. The Retail segment sells upholstered furniture, and some casegoods and other accessories, to end consumers through the retail network.

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Sales
Upholstery segment:
Sales to external customers	$	223,809		$	232,484
Intersegment sales	43,607			40,192

Upholstery segment sales	267,416			272,676


Casegoods segment:
Sales to external customers	20,585			21,202
Intersegment sales	4,453			2,191

Casegoods segment sales	25,038			23,393


Retail segment sales	95,720			86,651

Corporate and Other:
Sales to external customers	669			1,086
Intersegment sales	1,210			516

Corporate and Other sales	1,879			1,602


Eliminations	(49,270		)	(42,899		)

Consolidated sales	$	340,783		$	341,423


Operating Income (Loss)
Upholstery segment	$	29,809		$	24,594
Casegoods segment	2,147			1,690
Retail segment	2,183			4,729
Corporate and Other	(12,371		)	(11,047		)

Consolidated operating income	21,768			19,966
Interest expense	115			112
Interest income	204			205
Other income (expense), net	(72		)	1,968

Income before income taxes	$	21,785		$	22,027

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 35
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599

+ Details

XML 28 R17.htm IDEA: XBRL DOCUMENT

Income Taxes	3 Months Ended
Income Taxes	Jul. 30, 2016
Income Taxes
Income Taxes	Note 10: Income Taxes Our effective tax rate for the first quarter of fiscal 2017 was 35.7% compared with 35.9% for the first quarter of fiscal 2016. Our effective tax rate varies from the 35% statutory rate primarily due to state taxes, less the benefit of the U.S. manufacturing deduction and foreign earnings in jurisdictions with lower tax rates than the U.S. Our consolidated balance sheet at the end of the first quarter of fiscal 2017 reflected a $0.8 million net liability for uncertain income tax positions. We do not expect this net liability to change significantly in the next 12 months. We will either pay or release the liability for uncertain income tax positions as tax audits are completed or settled, statutes of limitation expire or other new information becomes available.

XML 29 R18.htm IDEA: XBRL DOCUMENT

Earnings per Share

3 Months Ended

Jul. 30, 2016

Earnings per Share

Earnings per Share

Note 11: Earnings per Share

The following is a reconciliation of the numerators and denominators we used in our computations of basic and diluted earnings per share:

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Numerator (basic and diluted):
Net income attributable to La-Z-Boy Incorporated	$	13,806		$	13,676
Income allocated to participating securities	(69		)	(78		)

Net income available to common shareholders	$	13,737		$	13,598


Denominator:
Basic weighted average common shares outstanding	49,105			50,583
Add:
Contingent common shares	131			119
Stock option dilution	358			341

Diluted weighted average common shares outstanding	49,594			51,043

XML 30 R19.htm IDEA: XBRL DOCUMENT

Fair Value Measurements

3 Months Ended

Jul. 30, 2016

Fair Value Measurements

Fair Value Measurements

Note 12: Fair Value Measurements

Accounting standards require that we put financial assets and liabilities into one of three categories based on the inputs we use to value them:

Level 1 — Financial assets and liabilities the values of which are based on unadjusted quoted market prices for identical assets and liabilities in an active market that we have the ability to access.

Level 2 — Financial assets and liabilities the values of which are based on quoted prices in markets that are not active or on model inputs that are observable for substantially the full term of the asset or liability.

Level 3 — Financial assets and liabilities the values of which are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement.

The following table presents the fair value hierarchy for those assets we measured at fair value on a recurring basis at July 30, 2016, and April 30, 2016:

At July 30, 2016

	Fair Value Measurements
(Unaudited, amounts in thousands)	Level 1(a)		Level 2(a)		Level 3
Assets
Available-for-sale investments	$	1,058	$	35,886	$	—
Trading securities	—		50		—
Held-to-maturity investments	1,829		—		—

Total	$	2,887	$	35,936	$	—

(a)

There were no transfers between Level 1 and Level 2 during fiscal 2017.

At April 30, 2016

	Fair Value Measurements
(Unaudited, amounts in thousands)	Level 1(b)		Level 2(b)		Level 3
Assets
Available-for-sale investments	$	1,177	$	36,802	$	—
Held-to-maturity investments	1,826		—		—

Total	$	3,003	$	36,802	$	—

(b)

There were no transfers between Level 1 and Level 2 during fiscal 2016.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

XML 31 R20.htm IDEA: XBRL DOCUMENT

Recent Accounting Pronouncements	3 Months Ended
Recent Accounting Pronouncements	Jul. 30, 2016
Recent Accounting Pronouncements
Recent Accounting Pronouncements	Note 13: Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued a new accounting standard that requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new standard supersedes virtually all existing authoritative accounting guidance on revenue recognition and requires additional disclosures and greater use of estimates and judgments. During July 2015, the FASB deferred the effective date of the revenue recognition guidance by one year, thus making the new accounting standard effective for our fiscal year 2019. We are assessing the impact this guidance will have on our consolidated financial statements and financial statement disclosures. In January 2016, the FASB issued a new accounting standard that requires equity investments to be measured at fair value with the fair value changes to be recognized through net income. This standard does not apply to investments that are accounted for under the equity method of accounting, or that result in consolidation of the invested entity. We currently hold equity investments that are measured at fair value at the end of each reporting period, and we recognize the fair value changes through other comprehensive income (loss) as unrealized gains (losses). Based on the fair value of our unrealized loss as of April 30, 2016, adoption of this standard would be immaterial to our consolidated financial statements. Adoption of this standard will be required for our fiscal year 2019 financial statements. In February 2016, the FASB issued a new accounting standard requiring all operating leases that a lessee enters into to be recorded on its balance sheet. The lessee will record an asset for the right to use the underlying asset for the lease term and a liability for the contractual lease payments. This guidance is effective for our fiscal year 2020. We are assessing the impact this guidance will have on our consolidated financial statements and related disclosures. In March 2016, the FASB issued a new accounting standard focused on simplifying the accounting for share-based payments. The guidance includes changes to the accounting for income taxes related to share-based payments as well as changes to the presentation of these tax impacts on the statement of cash flows. This guidance will be applicable for our fiscal year 2018. We are assessing the impact this guidance will have on our consolidated financial statements. In June 2016, the FASB issued a new accounting standard that amends current guidance on other-than-temporary impairments of available-for-sale debt securities. This amended guidance requires the use of an allowance to record estimated credit losses on these assets when the fair value is below the amortized cost of the asset. This standard also removes the evaluation of the length of time that a security has been in a loss position to avoid recording a credit loss. We are required to adopt this standard for our fiscal year 2021 and apply it through a cumulative-effect adjustment to retained earnings. We are assessing the impact this guidance will have on our consolidated financial statements and disclosures.

XML 32 R21.htm IDEA: XBRL DOCUMENT

Inventories (Tables)

3 Months Ended

Jul. 30, 2016

Inventories

Summary of inventories

(Unaudited, amounts in thousands)	7/30/16			4/30/16
Raw materials	$	89,931		$	87,905
Work in process	10,487			11,591
Finished goods	97,540			97,861

FIFO inventories	197,958			197,357
Excess of FIFO over LIFO	(21,768		)	(21,768		)

Inventories, net	$	176,190		$	175,589

XML 33 R22.htm IDEA: XBRL DOCUMENT

Investments (Tables)

3 Months Ended

Jul. 30, 2016

Investments

Summary of investments

(Unaudited, amounts in thousands)	7/30/16		4/30/16
Short-term investments:
Available-for-sale investments	$	12,806	$	13,491
Trading securities	50		—
Held-to-maturity investments	1,829		1,826

Total short-term investments	14,685		15,317

Long-term investments:
Available-for-sale investments	31,615		31,659


Total available-for-sale, trading, & held-to-maturity investments	$	46,300	$	46,976


Investments to enhance returns on cash	$	32,749	$	33,583
Investments to fund compensation/retirement plans	$	13,551	$	13,393

Summary of unrealized gain, unrealized losses, and fair value by investment type

At July 30, 2016

(Unaudited, amounts in thousands)	Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities	$	1,514	$	(136	)	$	8,399
Fixed income	222		(5		)	35,573
Mutual funds	—		—			50
Other	1		(23		)	2,278

Total securities	$	1,737	$	(164	)	$	46,300

At April 30, 2016

(Unaudited, amounts in thousands)	Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities	$	1,231	$	(135	)	$	8,150
Fixed income	176		(9		)	36,527
Other	1		(21		)	2,299

Total securities	$	1,408	$	(165	)	$	46,976

Summary of sales of available-for-sale securities

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Proceeds from sales	$	3,670		$	12,983
Gross realized gains	31			677
Gross realized losses	(36		)	(506		)

XML 34 R23.htm IDEA: XBRL DOCUMENT

Pension Plans (Tables)

3 Months Ended

Jul. 30, 2016

Pension Plans

Schedule of net periodic pension costs

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Service cost	$	319		$	333
Interest cost	1,170			1,211
Expected return on plan assets	(1,245		)	(1,226		)
Net amortization	764			736

Net periodic pension cost	$	1,008		$	1,054

XML 35 R24.htm IDEA: XBRL DOCUMENT

Product Warranties (Tables)

3 Months Ended

Jul. 30, 2016

Product Warranties

Reconciliation of changes in product warranty liability

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Balance as of the beginning of the period	$	20,511		$	16,870
Accruals during the period	5,135			5,111
Settlements during the period	(4,738		)	(4,751		)

Balance as of the end of the period	$	20,908		$	17,230

XML 36 R25.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation (Tables)

3 Months Ended

Jul. 30, 2016

Stock-Based Compensation

Summary of total stock-based compensation expense

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16		7/25/15
Equity-based awards expense	$	3,329	$	3,012
Liability-based awards (income) expense	1,499		(439		)

Total stock-based compensation expense	$	4,828	$	2,573

Fair value assumptions for stock options

(Unaudited)	Fiscal 2017 grant
Risk-free interest rate	1.30		%
Dividend rate	1.54		%
Expected life in years	5.00
Stock price volatility	38.87		%
Fair value per share	$	7.99

Fair value assumptions for SARs

(Unaudited)	Fiscal 2014 grant			Fiscal 2013 grant
Risk-free interest rate	0.73		%	0.55		%
Dividend rate	1.32		%	1.32		%
Expected life in years	1.88			0.96
Stock price volatility	29.56		%	33.13		%
Fair value per share	$	11.31		$	17.94

XML 37 R26.htm IDEA: XBRL DOCUMENT

Accumulated Other Comprehensive Loss (Tables)

3 Months Ended

Jul. 30, 2016

Accumulated Other Comprehensive Loss

Activity in accumulated other comprehensive loss

(Unaudited, amounts in thousands)	Translation adjustment			Change in fair value of cash flow hedge			Unrealized gain on marketable securities			Net pension amortization and net actuarial loss			Accumulated other comprehensive loss
Balance at April 30, 2016	$	(445	)	$	(286	)	$	1,058		$	(34,327	)	$	(34,000	)
Changes before reclassifications	(40		)	(1,279		)	326			—			(993		)
Amounts reclassified to net income	—			512			5			822			1,339
Tax effect	—			292			(126		)	(313		)	(147		)

Other comprehensive income (loss) attributable to La-Z- Boy Incorporated	(40		)	(475		)	205			509			199

Balance at July 30, 2016	$	(485	)	$	(761	)	$	1,263		$	(33,818	)	$	(33,801	)

(Unaudited, amounts in thousands)	Translation adjustment			Change in fair value of cash flow hedge			Unrealized gain on marketable securities			Net pension amortization and net actuarial loss			Accumulated other comprehensive loss
Balance at April 25, 2015	$	1,517		$	(560	)	$	1,605		$	(34,701	)	$	(32,139	)
Changes before reclassifications	(2,214		)	(786		)	(276		)	—			(3,276		)
Amounts reclassified to net income	—			467			(171		)	789			1,085
Tax effect	—			122			170			(301		)	(9		)

Other comprehensive income (loss) attributable to La-Z- Boy Incorporated	(2,214		)	(197		)	(277		)	488			(2,200		)

Balance at July 25, 2015	$	(697	)	$	(757	)	$	1,328		$	(34,213	)	$	(34,339	)

Components of non-controlling interest

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Balance as of the beginning of the period	$	10,070		$	8,954
Net income	202			447
Other comprehensive loss	(28		)	(631		)

Balance as of the end of the period	$	10,244		$	8,770

XML 38 R27.htm IDEA: XBRL DOCUMENT

Segment Information (Tables)

3 Months Ended

Jul. 30, 2016

Segment Information

Schedule of segment information

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Sales
Upholstery segment:
Sales to external customers	$	223,809		$	232,484
Intersegment sales	43,607			40,192

Upholstery segment sales	267,416			272,676


Casegoods segment:
Sales to external customers	20,585			21,202
Intersegment sales	4,453			2,191

Casegoods segment sales	25,038			23,393


Retail segment sales	95,720			86,651

Corporate and Other:
Sales to external customers	669			1,086
Intersegment sales	1,210			516

Corporate and Other sales	1,879			1,602


Eliminations	(49,270		)	(42,899		)

Consolidated sales	$	340,783		$	341,423


Operating Income (Loss)
Upholstery segment	$	29,809		$	24,594
Casegoods segment	2,147			1,690
Retail segment	2,183			4,729
Corporate and Other	(12,371		)	(11,047		)

Consolidated operating income	21,768			19,966
Interest expense	115			112
Interest income	204			205
Other income (expense), net	(72		)	1,968

Income before income taxes	$	21,785		$	22,027

XML 39 R28.htm IDEA: XBRL DOCUMENT

Earnings per Share (Tables)

3 Months Ended

Jul. 30, 2016

Earnings per Share

Reconciliation of numerators and denominators used in the computation of basic and diluted earnings per share

	Quarter Ended
(Unaudited, amounts in thousands)	7/30/16			7/25/15
Numerator (basic and diluted):
Net income attributable to La-Z-Boy Incorporated	$	13,806		$	13,676
Income allocated to participating securities	(69		)	(78		)

Net income available to common shareholders	$	13,737		$	13,598


Denominator:
Basic weighted average common shares outstanding	49,105			50,583
Add:
Contingent common shares	131			119
Stock option dilution	358			341

Diluted weighted average common shares outstanding	49,594			51,043

XML 40 R29.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Tables)

3 Months Ended

Jul. 30, 2016

Fair Value Measurements

Fair value hierarchy for assets measured at fair value on a recurring basis

At July 30, 2016

	Fair Value Measurements
(Unaudited, amounts in thousands)	Level 1(a)		Level 2(a)		Level 3
Assets
Available-for-sale investments	$	1,058	$	35,886	$	—
Trading securities	—		50		—
Held-to-maturity investments	1,829		—		—

Total	$	2,887	$	35,936	$	—

(a)

There were no transfers between Level 1 and Level 2 during fiscal 2017.

At April 30, 2016

	Fair Value Measurements
(Unaudited, amounts in thousands)	Level 1(b)		Level 2(b)		Level 3
Assets
Available-for-sale investments	$	1,177	$	36,802	$	—
Held-to-maturity investments	1,826		—		—

Total	$	3,003	$	36,802	$	—

(b)

There were no transfers between Level 1 and Level 2 during fiscal 2016.

XML 41 R30.htm IDEA: XBRL DOCUMENT

Basis of Presentation (Details)	3 Months Ended		12 Months Ended
Basis of Presentation (Details)	Jul. 30, 2016	Jul. 25, 2015	Apr. 29, 2017	Apr. 30, 2016
Basis of Presentation
Length of fiscal year			364 days	371 days
Improvement in gross margin due to legal settlement (as a percent)	0.70%	0.50%

XML 42 R31.htm IDEA: XBRL DOCUMENT

Acquisitions (Details) $ in Thousands	3 Months Ended
Acquisitions (Details) $ in Thousands	Jul. 30, 2016 USD ($) store	Apr. 30, 2016 USD ($)
Acquisitions
Goodwill	$ 41,152	$ 37,193
Independent dealer assets acquired in fiscal 2017
Acquisitions
Number of stores \| store	1
Total purchase price	$ 5,300
Settlement gain or loss	0
Goodwill	4,000
Independent dealer assets acquired in fiscal 2017 \| Reacquired rights
Acquisitions
Indefinite-lived intangible asset	$ 400

XML 43 R32.htm IDEA: XBRL DOCUMENT

Inventories (Details) - USD ($) $ in Thousands	Jul. 30, 2016	Apr. 30, 2016
Inventories
Raw materials	$ 89,931	$ 87,905
Work in process	10,487	11,591
Finished goods	97,540	97,861
FIFO inventories	197,958	197,357
Excess of FIFO over LIFO	(21,768)	(21,768)
Inventories, net	$ 176,190	$ 175,589

XML 44 R33.htm IDEA: XBRL DOCUMENT

Investments - Components (Details) - USD ($) $ in Thousands	Jul. 30, 2016	Apr. 30, 2016
Investments
Total available-for-sale, trading, and held-to-maturity investments	$ 46,300	$ 46,976
Investments to enhance returns on cash
Investments
Total available-for-sale, trading, and held-to-maturity investments	32,749	33,583
Investments to fund compensation/retirement plans
Investments
Total available-for-sale, trading, and held-to-maturity investments	13,551	13,393
Other current assets
Investments
Available-for-sale investments	12,806	13,491
Trading securities	50
Held-to-maturity investments	1,829	1,826
Total available-for-sale, trading, and held-to-maturity investments	14,685	15,317
Other long-term assets
Investments
Available-for-sale investments	$ 31,615	$ 31,659

XML 45 R34.htm IDEA: XBRL DOCUMENT

Investments - Unrealized Gains and Losses and Fair Value (Details) - USD ($) $ in Thousands	Jul. 30, 2016	Apr. 30, 2016
Summary of investments
Gross Unrealized Gains	$ 1,737	$ 1,408
Gross Unrealized Losses	(164)	(165)
Fair Value	46,300	46,976
Equity securities
Summary of investments
Gross Unrealized Gains	1,514	1,231
Gross Unrealized Losses	(136)	(135)
Fair Value	8,399	8,150
Fixed income
Summary of investments
Gross Unrealized Gains	222	176
Gross Unrealized Losses	(5)	(9)
Fair Value	35,573	36,527
Mutual funds
Summary of investments
Fair Value	50
Other
Summary of investments
Gross Unrealized Gains	1	1
Gross Unrealized Losses	(23)	(21)
Fair Value	$ 2,278	$ 2,299

XML 46 R35.htm IDEA: XBRL DOCUMENT

Investments - Sales and Maturities (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 30, 2016	Jul. 25, 2015
Sales of available-for-sale securities
Proceeds from sales	$ 3,670	$ 12,983
Gross realized gains	31	677
Gross realized losses	(36)	$ (506)
Fair value of available-for-sale securities by contractual maturity
Fair value, available-for-sale securities with contractual maturity within one year	13,100
Fair value, available-for-sale securities with contractual maturity within two to five years	20,900
Fair value, available-for-sale securities with contractual maturity within six to ten years	1,300
Fair value, available-for-sale securities with contractual maturity after ten years	$ 300

XML 47 R36.htm IDEA: XBRL DOCUMENT

Pension Plans (Details) - USD ($) $ in Thousands	3 Months Ended
Pension Plans (Details) - USD ($) $ in Thousands	Jul. 30, 2016	Jul. 25, 2015
Net periodic pension costs
Service cost	$ 319	$ 333
Interest cost	1,170	1,211
Expected return on plan assets	(1,245)	(1,226)
Net amortization	764	736
Net periodic pension cost	$ 1,008	$ 1,054

XML 48 R37.htm IDEA: XBRL DOCUMENT

Product Warranties (Details) - USD ($) $ in Thousands	3 Months Ended
Product Warranties (Details) - USD ($) $ in Thousands	Jul. 30, 2016	Jul. 25, 2015	Apr. 30, 2016
Reconciliation of changes in product warranty liability
Balance as of the beginning of the period	$ 20,511	$ 16,870
Accruals during the period	5,135	5,111
Settlements during the period	(4,738)	(4,751)
Balance as of the end of the period	20,908	$ 17,230
Product warranty liability included in accrued expenses and other current liabilities	$ 12,900		$ 12,400
Upholstery Segment
Product Warranties
Percentage of warranty liability relating to the segment	95.00%
Fabric and leather
Product Warranties
Warranty term	1 year
Cushions and padding \| Minimum
Product Warranties
Warranty term	1 year
Cushions and padding \| Maximum
Product Warranties
Warranty term	10 years
Labor costs relating to parts
Product Warranties
Warranty term	1 year

XML 49 R38.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
Stock-Based Compensation (Details) - USD ($) $ in Thousands	Jul. 30, 2016	Jul. 25, 2015
Stock-based compensation expense recognized for outstanding grants
Equity-based awards expense	$ 3,329	$ 3,012
Liability-based awards (income) expense	1,499	(439)
Total stock-based compensation expense	$ 4,828	$ 2,573

XML 50 R39.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation - Stock Options (Details) - Stock Options	3 Months Ended
	Jul. 30, 2016 $ / shares shares
Stock-Based Compensation
Shares granted (in shares) \| shares	497,198
Fair value assumptions
Risk-free interest rate (as a percent)	1.30%
Dividend rate (as a percent)	1.54%
Expected life in years	5 years
Stock price volatility (as a percent)	38.87%
Fair value per share (in dollars per share) \| $ / shares	$ 7.99
Minimum
Stock-Based Compensation
Vesting period	1 year
Maximum
Stock-Based Compensation
Vesting period	4 years

XML 51 R40.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation - SARs (Details) - Stock Appreciation Rights	3 Months Ended
	Jul. 30, 2016 $ / shares
Stock-Based Compensation
Percentage vesting each year from date of grant	25.00%
Period from grant date for first vesting	1 year
Vesting period	4 years
Fiscal 2014 Grant
Fair value assumptions
Risk-free interest rate (as a percent)	0.73%
Dividend rate (as a percent)	1.32%
Expected life in years	1 year 10 months 17 days
Stock price volatility (as a percent)	29.56%
Fair value per share (in dollars per share)	$ 11.31
Fiscal 2013 Grant
Fair value assumptions
Risk-free interest rate (as a percent)	0.55%
Dividend rate (as a percent)	1.32%
Expected life in years	11 months 16 days
Stock price volatility (as a percent)	33.13%
Fair value per share (in dollars per share)	$ 17.94

XML 52 R41.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation - Restricted Shares and RSUs (Details)	3 Months Ended
	Jul. 30, 2016 $ / shares shares
Restricted Stock
Stock-Based Compensation
Granted (in shares) \| shares	97,924
Granted (in dollars per share/unit) \| $ / shares	$ 25.99
Percentage vesting each year from date of grant	25.00%
Period from grant date for first vesting	1 year
Vesting period	4 years
Restricted Stock Units
Stock-Based Compensation
Fair value (in dollars per unit) \| $ / shares	$ 30.22
Award common share equivalent (in shares) \| shares	1
Percentage vesting each year from date of grant	25.00%
Period from grant date for first vesting	1 year
Vesting period	4 years

XML 53 R42.htm IDEA: XBRL DOCUMENT

Stock-Based Compensation - Performance Awards (Details)	3 Months Ended
Stock-Based Compensation - Performance Awards (Details)	Jul. 30, 2016 $ / shares shares
Performance Awards
Stock-Based Compensation
Percentage of payout dependent on financial performance	80.00%
Percentage of payout dependent on total shareholder return	20.00%
Performance awards, performance period	3 years
Performance Awards \| Minimum
Stock-Based Compensation
Performance award opportunity as a percentage of target award	50.00%
Performance Awards \| Maximum
Stock-Based Compensation
Performance award opportunity as a percentage of target award	200.00%
Performance-Based Shares
Stock-Based Compensation
Number of shares or units granted \| shares	180,359
Performance-Based Shares \| Vesting Based on Performance \| Fiscal 2017 Grant
Stock-Based Compensation
Fair value on date of grant (in dollars per share)	$ 24.79
Performance-Based Shares \| Vesting Based on Market \| Fiscal 2017 Grant
Stock-Based Compensation
Fair value on date of grant (in dollars per share)	$ 33.32

XML 54 R43.htm IDEA: XBRL DOCUMENT

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 30, 2016	Jul. 25, 2015
Activity in accumulated other comprehensive loss
Balance	$ 547,142
Balance	547,984
Components of non-controlling interest
Balance as of the beginning of the period	10,070	$ 8,954
Net income	202	447
Other comprehensive income (loss)	(28)	(631)
Balance as of the end of the period	10,244	8,770
Accumulated Other Comprehensive Loss
Activity in accumulated other comprehensive loss
Balance	(34,000)	(32,139)
Changes before reclassifications	(993)	(3,276)
Amounts reclassified to net income	1,339	1,085
Tax effect	(147)	(9)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	199	(2,200)
Balance	(33,801)	(34,339)
Translation adjustment
Activity in accumulated other comprehensive loss
Balance	(445)	1,517
Changes before reclassifications	(40)	(2,214)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(40)	(2,214)
Balance	(485)	(697)
Change in fair value of cash flow hedge
Activity in accumulated other comprehensive loss
Balance	(286)	(560)
Changes before reclassifications	(1,279)	(786)
Amounts reclassified to net income	512	467
Tax effect	292	122
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(475)	(197)
Balance	(761)	(757)
Unrealized gain on marketable securities
Activity in accumulated other comprehensive loss
Balance	1,058	1,605
Changes before reclassifications	326	(276)
Amounts reclassified to net income	5	(171)
Tax effect	(126)	170
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	205	(277)
Balance	1,263	1,328
Net pension amortization and net actuarial loss
Activity in accumulated other comprehensive loss
Balance	(34,327)	(34,701)
Amounts reclassified to net income	822	789
Tax effect	(313)	(301)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	509	488
Balance	$ (33,818)	$ (34,213)

XML 55 R44.htm IDEA: XBRL DOCUMENT

Segment Information (Details)	3 Months Ended
Segment Information (Details)	Jul. 30, 2016 store segment item
Upholstery Segment
Segment Information
Number of operating units \| segment	2
Casegoods Segment
Segment Information
Number of brands \| item	3
Retail Segment
Segment Information
Number of stores \| store	127

XML 56 R45.htm IDEA: XBRL DOCUMENT

Segment Information - Income Statement Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Jul. 30, 2016	Jul. 25, 2015
Segment Information
Sales	$ 340,783	$ 341,423
Operating Income (Loss)	21,768	19,966
Interest expense	115	112
Interest income	204	205
Other income (expense), net	(72)	1,968
Income before income taxes	21,785	22,027
Upholstery Segment
Segment Information
Sales	223,809	232,484
Operating Income (Loss)	29,809	24,594
Casegoods Segment
Segment Information
Sales	20,585	21,202
Operating Income (Loss)	2,147	1,690
Retail Segment
Segment Information
Sales	95,720	86,651
Operating Income (Loss)	2,183	4,729
Corporate and Other
Segment Information
Sales	669	1,086
Operating Income (Loss)	(12,371)	(11,047)
Operating Segments \| Upholstery Segment
Segment Information
Sales	267,416	272,676
Operating Segments \| Casegoods Segment
Segment Information
Sales	25,038	23,393
NonOperating Segments \| Corporate and Other
Segment Information
Sales	1,879	1,602
Eliminations
Segment Information
Sales	(49,270)	(42,899)
Eliminations \| Upholstery Segment
Segment Information
Sales	(43,607)	(40,192)
Eliminations \| Casegoods Segment
Segment Information
Sales	(4,453)	(2,191)
Eliminations \| Corporate and Other
Segment Information
Sales	$ (1,210)	$ (516)

XML 57 R46.htm IDEA: XBRL DOCUMENT

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Jul. 30, 2016	Jul. 25, 2015
Income Taxes
Effective tax rate (as a percent)	35.70%	35.90%
Statutory tax rate (as a percent)	35.00%
Net liability for uncertain income tax positions	$ 0.8

XML 58 R47.htm IDEA: XBRL DOCUMENT

Earnings per Share - Reconciliation (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jul. 30, 2016	Jul. 25, 2015
Numerator (basic and diluted):
Net income attributable to La-Z-Boy Incorporated	$ 13,806	$ 13,676
Income allocated to participating securities, basic	(69)	(78)
Income allocated to participating securities, diluted	(69)	(78)
Net income available to common shareholders, basic	13,737	13,598
Net income available to common shareholders, diluted	$ 13,737	$ 13,598
Denominator
Basic weighted average common shares outstanding (in shares)	49,105	50,583
Add:
Contingent common shares (in shares)	131	119
Stock option dilution (in shares)	358	341
Diluted weighted average common shares outstanding (in shares)	49,594	51,043

XML 59 R48.htm IDEA: XBRL DOCUMENT

Earnings per Share - Antidilutive Securities (Details) - Outstanding options shares in Millions	3 Months Ended
	Jul. 25, 2015 $ / shares shares
Anti-dilutive options
Outstanding options excluded from diluted share calculation (in shares) \| shares	0.4
Weighted average exercise price of options excluded from diluted share calculation (in dollars per share) \| $ / shares	$ 26.69

XML 60 R49.htm IDEA: XBRL DOCUMENT

Fair Value Measurements (Details) - USD ($) $ in Thousands	Jul. 30, 2016	Apr. 30, 2016
Assets
Transfers from Level 1 to Level 2	$ 0	$ 0
Transfers from Level 2 to Level 1	0	0
Available-for-sale investments
Assets
Fair value of investments measured using net asset value	7,500	7,200
Level 1 \| Recurring basis
Assets
Total investments	2,887	3,003
Level 1 \| Recurring basis \| Available-for-sale investments
Assets
Total investments	1,058	1,177
Level 1 \| Recurring basis \| Held-to-maturity investments
Assets
Total investments	1,829	1,826
Level 2 \| Recurring basis
Assets
Total investments	35,936	36,802
Level 2 \| Recurring basis \| Available-for-sale investments
Assets
Total investments	35,886	$ 36,802
Level 2 \| Recurring basis \| Trading securities
Assets
Total investments	$ 50

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