Document and Entity Information (USD $) In Millions, except Share data, unless otherwise specified	12 Months Ended
	Apr. 25, 2015	Jun. 09, 2015	Oct. 24, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	LA-Z-BOY INC
Entity Central Index Key	0000057131
Current Fiscal Year End Date	--04-25
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 1,132.8
Entity Common Stock, Shares Outstanding		50,500,801
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Apr. 25, 2015

CONSOLIDATED STATEMENT OF INCOME (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Income Statement
Sales	$ 1,425,395	$ 1,357,318	$ 1,273,877
Cost of sales
Cost of goods sold	921,142	888,025	854,542
Restructuring	(239)	4,839	2,480
Total cost of sales	920,903	892,864	857,022
Gross profit	504,492	464,454	416,855
Selling, general and administrative expense	401,459	375,158	349,101
Restructuring	(132)		151
Operating income	103,165	89,296	67,603
Interest expense	523	548	746
Interest income	1,030	761	620
Income from Continued Dumping and Subsidy Offset Act, net	1,212
Other income, net	744	2,050	3,208
Income from continuing operations before income taxes	105,628	91,559	70,685
Income tax expense	36,954	31,383	23,520
Income from continuing operations	68,674	60,176	47,165
Income (loss) from discontinued operations, net of tax	3,297	(3,796)	17
Net income	71,971	56,380	47,182
Net loss attributable to noncontrolling interests	(1,198)	(1,324)	(793)
Net income attributable to La-Z-Boy Incorporated	70,773	55,056	46,389
Net income attributable to La-Z-Boy Incorporated:
Income from continuing operations attributable to La-Z-Boy Incorporated	67,476	58,852	46,372
Income (loss) from discontinued operations	3,297	(3,796)	17
Net income attributable to La-Z-Boy Incorporated	$ 70,773	$ 55,056	$ 46,389
Basic weighted average common shares (in shares)	51,767	52,386	52,351
Basic net income attributable to La-Z-Boy Incorporated per share:
Income from continuing operations attributable to La-Z-Boy Incorporated (in dollars per share)	$ 1.30	$ 1.11	$ 0.87
Income (loss) from discontinued operations, net of tax (in dollars per share)	$ 0.06	$ (0.07)
Basic net income attributable to La-Z-Boy Incorporated per share (in dollars per share)	$ 1.36	$ 1.04	$ 0.87
Diluted weighted average common shares (in shares)	52,346	53,829	53,685
Diluted net income attributable to La-Z-Boy Incorporated per share:
Income from continuing operations attributable to La-Z-Boy Incorporated (in dollars per share)	$ 1.28	$ 1.09	$ 0.85
Income (loss) from discontinued operations, net of tax (in dollars per share)	$ 0.06	$ (0.07)
Diluted net income attributable to La-Z-Boy Incorporated per share (in dollars per share)	$ 1.34	$ 1.02	$ 0.85
Dividends declared per share (in dollars per share)	$ 0.28	$ 0.20	$ 0.08

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Statement of Comprehensive Income
Net income	$ 71,971	$ 56,380	$ 47,182
Other comprehensive income (loss)
Currency translation adjustment	(1,014)	(3,054)	1,089
Change in fair value of cash flow hedges, net of tax	(507)	(284)	231
Net unrealized gains (losses) on marketable securities, net of tax	507	624	(2,543)
Net pension amortization and actuarial gain (loss), net of tax	179	6,100	(2,653)
Total other comprehensive income (loss)	(835)	3,386	(3,876)
Total comprehensive income before noncontrolling interests	71,136	59,766	43,306
Comprehensive income attributable to noncontrolling interests	(1,122)	(594)	(1,132)
Comprehensive income attributable to La-Z-Boy Incorporated	$ 70,014	$ 59,172	$ 42,174

CONSOLIDATED BALANCE SHEET (USD $) In Thousands, unless otherwise specified	Apr. 25, 2015	Apr. 26, 2014
Current assets
Cash and equivalents	$ 98,302	$ 149,661
Restricted cash	9,636	12,572
Receivables, net of allowance of $4,622 at 4/25/15 and $12,368 at 4/26/14	158,548	152,614
Inventories, net	156,789	147,009
Deferred income taxes - current	11,255	15,037
Business held for sale		4,290
Other current assets	41,921	41,490
Total current assets	476,451	522,673
Property, plant and equipment, net	174,036	127,535
Goodwill	15,164	13,923
Other intangible assets	5,458	4,544
Deferred income taxes - long-term	35,072	32,430
Other long-term assets, net	68,423	70,190
Total assets	774,604	771,295
Current liabilities
Current portion of long-term debt	397	7,497
Accounts payable	46,168	56,177
Business held for sale		832
Accrued expenses and other current liabilities	108,326	102,876
Total current liabilities	154,891	167,382
Long-term debt	433	277
Other long-term liabilities	86,180	73,918
Contingencies and commitments
Shareholders' equity
Preferred shares - 5,000 authorized; none issued
Common shares, $1 par value - 150,000 authorized; 50,747 outstanding at 4/25/15 and 51,981 outstanding at 4/26/14	50,747	51,981
Capital in excess of par value	270,032	262,901
Retained earnings	235,506	238,384
Accumulated other comprehensive loss	(32,139)	(31,380)
Total La-Z-Boy Incorporated shareholders' equity	524,146	521,886
Noncontrolling interests	8,954	7,832
Total equity	533,100	529,718
Total liabilities and equity	$ 774,604	$ 771,295

CONSOLIDATED BALANCE SHEET (Parenthetical) (USD $) In Thousands, except Per Share data, unless otherwise specified	Apr. 25, 2015	Apr. 26, 2014
Current assets
Receivables, allowance (in dollars)	$ 4,622	$ 12,368
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)	50,747	51,981

CONSOLIDATED STATEMENT OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Cash flows from operating activities
Net income	$ 71,971	$ 56,380	$ 47,182
Adjustments to reconcile net income to cash provided by operating activities
(Gain) loss on disposal of assets	(499)	616	(659)
Gain on sale of investments	(214)	(300)	(3,170)
Impairment to the value of assets to be sold		1,149
Deferred income tax expense (benefit)	1,030	(216)	3,198
Restructuring	(360)	8,071	2,715
Provision for doubtful accounts	(2,290)	(2,651)	1,005
Depreciation and amortization	22,283	23,182	23,140
Stock-based compensation expense	6,780	8,739	11,458
Pension plan contributions			(23,480)
Change in receivables	(2,595)	3,337	7,139
Change in inventories	(7,644)	(9,444)	391
Change in other assets	4,154	(2,958)	(5,407)
Change in accounts payable	(5,206)	1,704	(6,088)
Change in other liabilities	(659)	3,223	11,016
Net cash provided by operating activities	86,751	90,832	68,440
Cash flows from investing activities
Proceeds from disposal of assets	9,061	2,233	4,455
Proceeds from sale of business		6,844
Capital expenditures	(70,319)	(33,730)	(25,912)
Purchases of investments	(40,327)	(54,233)	(49,589)
Proceeds from sales of investments	33,750	34,557	18,662
Acquisitions, net of cash acquired	(1,774)	(801)	(15,832)
Change in restricted cash	2,936	114	(9,825)
Net cash used for investing activities	(66,673)	(45,016)	(78,041)
Cash flows from financing activities
Payments on debt	(7,571)	(579)	(2,511)
Payments for debt issuance costs	(208)
Stock issued for stock and employee benefit plans	1,397	3,565	2,901
Excess tax benefit on stock option exercises	1,592	12,935	2,563
Purchases of common stock	(51,853)	(32,097)	(10,333)
Dividends paid	(14,513)	(10,514)	(4,236)
Net cash used for financing activities	(71,156)	(26,690)	(11,616)
Effect of exchange rate changes on cash and equivalents	(281)	(550)	(68)
Change in cash and equivalents	(51,359)	18,576	(21,285)
Cash and equivalents at beginning of period	149,661	131,085	152,370
Cash and equivalents at end of period	98,302	149,661	131,085
Supplemental disclosure of non-cash investing activities
Capital expenditures included in payables	$ 500	$ 5,303

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (USD $) In Thousands, unless otherwise specified	Common Shares	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Non-Controlling Interests	Total
Balance at Apr. 28, 2012	$ 52,244	$ 231,332	$ 189,609	$ (31,281)	$ 5,911	$ 447,815
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			46,389		793	47,182
Other comprehensive income (loss)				(4,215)	339	(3,876)
Stock issued for stock and employee benefit plans, net of cancellations and withholding tax	817	1,849	(1,368)			1,298
Purchases of common stock	(669)	(5,314)	(4,350)			(10,333)
Stock option and restricted stock expense		11,458				11,458
Tax benefit from exercise of options		2,563				2,563
Dividends paid			(4,236)			(4,236)
Change in noncontrolling interests					97	97
Balance at Apr. 27, 2013	52,392	241,888	226,044	(35,496)	7,140	491,968
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			55,056		1,324	56,380
Other comprehensive income (loss)				4,116	(730)	3,386
Stock issued for stock and employee benefit plans, net of cancellations and withholding tax	937	2,395	(4,509)			(1,177)
Purchases of common stock	(1,348)	(3,056)	(27,693)			(32,097)
Stock option and restricted stock expense		8,739				8,739
Tax benefit from exercise of options		12,935				12,935
Dividends paid			(10,514)			(10,514)
Change in noncontrolling interests					98	98
Balance at Apr. 26, 2014	51,981	262,901	238,384	(31,380)	7,832	529,718
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			70,773		1,198	71,971
Other comprehensive income (loss)				(759)	(76)	(835)
Stock issued for stock and employee benefit plans, net of cancellations and withholding tax	898	26	(10,684)			(9,760)
Purchases of common stock	(2,132)	(1,267)	(48,454)			(51,853)
Stock option and restricted stock expense		6,780				6,780
Tax benefit from exercise of options		1,592				1,592
Dividends paid			(14,513)			(14,513)
Balance at Apr. 25, 2015	$ 50,747	$ 270,032	$ 235,506	$ (32,139)	$ 8,954	$ 533,100

Accounting Policies	12 Months Ended
Accounting Policies	Apr. 25, 2015
Accounting Policies
Accounting Policies	Note 1: Accounting Policies The following is a summary of significant accounting policies followed in the preparation of La-Z-Boy Incorporated and its subsidiaries' (individually and collectively, "we," "our" or the "Company") consolidated financial statements. Our fiscal year ends on the last Saturday of April. Our 2015, 2014 and 2013 fiscal years included 52 weeks. Principles of Consolidation The accompanying consolidated financial statements include the consolidated accounts of La-Z-Boy Incorporated and our majority-owned subsidiaries. The portion of less than wholly-owned subsidiaries is included as non-controlling interest. All intercompany transactions have been eliminated, including any related profit on intercompany sales. Use of Estimates The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America. These principles require management to make estimates and assumptions that affect the reported amounts or disclosures of assets, liabilities (including contingent assets and liabilities), sales and expenses at the date of the financial statements. Actual results could differ from those estimates. Cash and Equivalents For purposes of the consolidated balance sheet and statement of cash flows, we consider all highly liquid debt instruments purchased with initial maturities of three months or less to be cash equivalents. Restricted Cash We have cash on deposit with a bank as collateral for certain letters of credit. Inventories Inventories are stated at the lower of cost or market. Cost is determined using the last-in, first-out ("LIFO") basis for approximately 66% and 67% of our inventories at April 25, 2015, and April 26, 2014, respectively. Cost is determined for all other inventories on a first-in, first-out ("FIFO") basis. The FIFO method of accounting is mainly used for our Retail segment's inventory as well as our England operating unit and our majority owned foreign subsidiaries. Property, Plant and Equipment Items capitalized, including significant betterments to existing facilities, are recorded at cost. Capitalized computer software costs include internal and external costs incurred during the software's development stage. Internal costs relate primarily to employee activities related to coding and testing the software under development. Computer software costs are depreciated over three to ten years. All maintenance and repair costs are expensed when incurred. Depreciation is computed principally using straight-line methods over the estimated useful lives of the assets. Disposal and Impairment of Long-Lived Assets Retirement or dispositions of long-lived assets are recorded based on carrying value and proceeds received. Any resulting gains or losses are recorded as a component of selling, general and administrative expenses. We review the carrying value of our long-lived assets for impairment annually or whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Our assessment of recoverability is based on our best estimates using either quoted market prices or an analysis of the undiscounted projected future cash flows by asset groups in order to determine if there is any evidence of impairment requiring us to further assess the fair value of our long-lived assets. Our asset groups consist of our operating units in our Upholstery segment (La-Z-Boy and England), our Casegoods segment and each of our retail stores. Indefinite-Lived Intangible Assets and Goodwill We test indefinite-lived intangibles and goodwill for impairment on an annual basis in the fourth quarter of our fiscal year, or more frequently if events or changes in circumstances indicate that the asset might be impaired. Indefinite-lived intangible assets include our American Drew trade name and the reacquired right to own and operate La-Z-Boy Furniture Galleries® stores in markets we have acquired. We establish the fair value of our trade name and reacquired rights based upon the relief from royalty method. Our goodwill relates to the acquisition of La-Z-Boy Furniture Galleries® stores in southern Ohio, northeast Ohio, and northern Indiana. The reporting units for our goodwill are the geographic markets the acquired stores become part of upon acquisition, because the acquired stores benefit these geographic markets. The estimated fair value for the reporting unit is determined based upon discounted cash flows. In situations where the fair value is less than the carrying value, indicating a potential impairment, a second comparison is performed using a calculation of implied fair value of goodwill to measure any such impairment. Investments Available-for-sale securities are recorded at fair value with the net unrealized gains and losses (that are deemed to be temporary) reported as a component of other comprehensive income/(loss). Realized gains and losses and charges for other-than-temporary impairments are included in determining net income, with related purchase costs based on the first-in, first-out method. For impairments that are other-than-temporary, an impairment loss is recognized in earnings equal to the difference between the investment's cost and its fair value at the balance sheet date of the reporting period for which the assessment is made. The fair value of the investment then becomes the new amortized cost basis of the investment and it is not adjusted for subsequent recoveries in fair value. Life Insurance Life insurance policies are recorded at the amount that could be realized under the insurance contract as of the date of our consolidated balance sheet. These assets are classified as other long-term assets on our consolidated balance sheet. The change in cash surrender or contract value is recorded as income or expense during each period. Revenue Recognition and Related Allowances for Credit Losses Substantially all of our shipping agreements with third-party carriers transfer the risk of loss to our customers upon shipment. Accordingly, our shipments using third-party carriers are generally recognized as revenue when product is shipped. In all cases, for product shipped on our company-owned trucks, we recognize revenue when the product is delivered. This revenue includes amounts we billed to customers for shipping. At the time we recognize revenue, we make provisions for estimated product returns and warranties, as well as other incentives that we may offer to customers. We also recognize revenue for amounts we receive from our customers in connection with our shared advertising cost arrangement. We import certain products from foreign ports, some of which are shipped directly to our domestic customers. In this case, revenue is not recognized until title is assumed by our customer, which is normally after the goods pass through U.S. Customs. Incentives offered to customers include cash discounts and other sales incentive programs. Estimated cash discounts and other sales incentives are recorded as a reduction of revenues when the revenue is recognized. Trade accounts receivable arise from the sale of products on trade credit terms. On a quarterly basis, our management team reviews all significant accounts as to their past due balances, as well as collectability of the outstanding trade accounts receivable for possible write off. It is our policy to write off the accounts receivable against the allowance account when we deem the receivable to be uncollectible. Additionally, we review orders from dealers that are significantly past due, and we ship product only when our ability to collect payment for the new sales is reasonably assured. Our allowances for credit losses reflect our best estimate of probable losses inherent in the trade accounts receivable balance. We determine the allowance based on known troubled accounts, historic experience and other currently available evidence. At April 25, 2015, and April 26, 2014, we had gross notes receivable of $1.9 million and $4.3 million, respectively. We had no remaining allowance for credit losses at April 25, 2015, as compared to $0.2 million at April 26, 2014. Cost of Sales Our cost of sales consists primarily of the cost to manufacture or purchase our merchandise, inspection costs, internal transfer costs, in-bound freight costs, outbound shipping costs, as well as warehousing costs, occupancy costs and depreciation expense related to our manufacturing facilities and equipment. During the third quarter of fiscal 2015 we received a cash payment related to a legal settlement that was recorded as part of cost of sales for the fiscal year ended April 25, 2015. Gross margin improved 0.4 percentage point for fiscal 2015 due to the legal settlement. Selling, General and Administrative Expenses SG&A expenses include the costs of selling our products and other general and administrative costs. Selling expenses are primarily composed of commissions, advertising, warranty, bad debt expense and compensation and benefits of employees performing various sales functions. Additionally, the occupancy costs of our retail facilities and the warehousing costs of our regional distribution centers are included as a component of SG&A. Other general and administrative expenses included in SG&A are composed primarily of compensation and benefit costs for administration employees and other administrative costs. Other Income, Net Other income, net, primarily includes foreign currency exchange net gain/loss and pension costs. Research and Development Costs Research and development costs are charged to expense in the periods incurred. Expenditures for research and development costs from continuing operations were $8.0 million, $7.9 million and $7.2 million for the fiscal years ended April 25, 2015, April 26, 2014, and April 27, 2013, respectively, and are included as a component of SG&A. Advertising Expenses Production costs of commercials, programming and costs of other advertising, promotion and marketing programs are charged to expense in the period in which the commercial or ad is first aired or released. Gross advertising expenses were $63.3 million, $59.6 million and $53.9 million for the fiscal years ended April 25, 2015, April 26, 2014, and April 27, 2013, respectively. A portion of our advertising program is a national advertising campaign. This campaign is a shared advertising program with our La-Z-Boy Furniture Galleries® stores, which are reimbursing us for about 34.0% of the cost of the program (excluding company-owned stores). Because of this shared cost arrangement, the advertising expense is reported as a component of SG&A, while the dealers' reimbursement portion is reported as a component of sales. Operating Leases We record rent expense related to operating leases on a straight-line basis for minimum lease payments starting with the beginning of the lease term based on the date that we have the right to control the leased property. Our minimum lease payments may incorporate step rent provisions or rent escalations. We also record rental income from subleases on a straight-line basis for minimum lease payments. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. In periods when deferred tax assets are recorded, we are required to estimate whether recoverability is more likely than not, based on, among other things, forecasts of taxable earnings in the related tax jurisdiction. We consider historical and projected future operating results, the eligible carry-forward period, tax law changes, tax planning opportunities and other relevant considerations when making judgments about realizing the value of our deferred tax assets. We recognize in our consolidated financial statements the benefit of a position taken or expected to be taken in a tax return when it is more likely than not (i.e. a likelihood of more than 50%) that the position would be sustained upon examination by tax authorities. A recognized tax position is then measured at the largest amount of benefit that is more likely than not to be realized upon settlement. Changes in judgment that result in subsequent recognition, derecognition or change in a measurement date of a tax position taken in a prior annual period (including any related interest and penalties) are recognized as a discrete item in the interim period in which the change occurs. Foreign Currency Translation The functional currency of our Mexico subsidiary is the U.S. dollar. Transaction gains and losses associated with translating our Mexico subsidiary's assets and liabilities, which are non-U.S. dollar denominated, are recorded in other income/(expense) in our consolidated statement of income. The functional currency of each of our other foreign subsidiaries is its respective local currency. Assets and liabilities of those subsidiaries whose functional currency is their local currency are translated at the year-end exchange rates, and revenues and expenses are translated at average exchange rates for the period, with the corresponding translation effect included as a component of other comprehensive income. In connection with our Mexico subsidiary we have entered into foreign currency forward contracts, designated as cash flow hedges, to hedge certain forecasted expenses. Accounting for Stock-Based Compensation We estimate the fair value of equity-based awards on the date of grant using option-pricing models. The value of the portion of the equity-based awards that are ultimately expected to vest is recognized as expense over the requisite service periods in our consolidated statement of income using a straight-line single-option method. We measure stock-based compensation cost for liability-based awards based on the fair value of the award on the last day of the reporting period and recognize it as expense over the vesting period. The liability for these awards is remeasured and adjusted to its fair value at the end of each reporting period until paid. We record compensation cost for stock-based awards that vest based on performance conditions ratably over the vesting periods when the vesting of such awards become probable. Discontinued Operations During fiscal 2014, we sold substantially all of the assets of our Bauhaus U.S.A. business unit and classified Lea Industries as held for sale. The assets and liabilities of Lea Industries were reported in business held for sale in our fiscal 2014 consolidated balance sheet. We were unable to find a buyer for our Lea Industries business, and therefore we liquidated all the assets, consisting mostly of inventory, and ceased operations of Lea Industries during the third quarter of fiscal 2015. The operating results of both Bauhaus and Lea Industries are reported as discontinued operations in our consolidated statement of income for all periods presented. Insurance/Self-Insurance We use a combination of insurance and self-insurance for a number of risks, including workers' compensation, general liability, vehicle liability and the company-funded portion of employee-related health care benefits. Liabilities associated with these risks are estimated in part by considering historic claims experience, demographic factors, severity factors and other assumptions. Our workers' compensation reserve is an undiscounted liability. We have various excess loss coverages for auto, product liability and workers' compensation liabilities. Our deductibles generally do not exceed $1.5 million. Recent Accounting Pronouncements In April 2014, the Financial Accounting Standards Board ("FASB") issued accounting guidance related to disclosures about discontinued operations. The guidance amends the definition of discontinued operations to limit the disposals that may be reported as discontinued operations. The disposal must be a result of a change in an entity's strategy and have a material effect on the entity's operations and financial results to be reported as discontinued operations under the new guidance. The amendments also expand the required disclosures for discontinued operations to include additional information about the assets, liabilities, revenues, expenses, and cash flows of the discontinued operation. If the disposal does not qualify as discontinued operations under the amended guidance, the entity must disclose the pretax profit or loss of the disposal. This guidance is effective for our fiscal year 2016. In connection with the discontinued operations discussed in Note 3, we have elected not to early adopt the provisions of this recently issued accounting standard. We do not believe the adoption of this guidance will have a material impact on our consolidated financial statements. In May 2014, the 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 the use of more estimates and judgments than the present standards as well as additional disclosures. The new accounting standard as proposed, would be effective for our fiscal year 2018, and we are assessing the potential impact to our consolidated financial statements and financial statement disclosures. In April 2015, the FASB issued accounting guidance that permits an entity with a fiscal year-end that does not coincide with an actual month-end date to measure defined benefit plan assets and obligations using the month-end date that is closest to the entity's fiscal year-end. Election of this accounting policy would need to be disclosed including the date used to measure these assets and obligations. The new accounting standard is effective for our fiscal year 2017, and we do not believe the adoption of this guidance will have a material impact on our consolidated financial statements.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Restructuring

12 Months Ended

Apr. 25, 2015

Restructuring

Restructuring

Note 2: Restructuring

During fiscal 2014, we committed to a restructuring of our casegoods business to transition to an all-import model for our wood furniture. We ceased casegoods manufacturing operations at our Hudson, North Carolina facility during the second quarter of fiscal 2015. As a result of this restructuring, we transitioned our remaining Kincaid and American Drew bedroom product lines to imported product and exited the hospitality business as we manufactured those products in our Hudson facility. We have transitioned our warehouse and repair functions from two North Wilkesboro, North Carolina facilities to Hudson. In addition, we sold both of the North Wilkesboro facilities and most of the wood-working equipment from our Hudson plant during fiscal 2015. During fiscal 2015 we also completed the consolidation of our casegoods showrooms.

We have recorded pre-tax restructuring charges of $7.7 million ($5.0 million after tax) since the inception of this restructuring plan, with $4.5 million pre-tax ($2.9 million after tax) related to continuing operations and $3.2 million pre-tax ($2.1 million after tax) related to discontinued operations. These charges relate to severance and benefit-related costs and various asset write-downs, including fixed assets, inventory and trade names. The pre-tax restructuring income recorded in fiscal 2015 mainly related to gains realized on the sale of the North Wilkesboro warehouse in the third quarter, as well as inventory recoveries. These items were partly offset by severance and benefit related costs and rent expense related to an idled showroom.

The table below details the total pre-tax restructuring (income)/expense recorded by type for the fiscal years ended April 25, 2015, and April 26, 2014:

(Amounts in thousands)	4/25/2015			4/26/2014
Fixed asset (recoveries) write-downs	$	(987	)	$	2,272
Inventory (recoveries) write-downs		(578	)		2,216
Other		1,194			351

Total restructuring—continuing operations		(371	)		4,839
Inventory write-downs		—			1,804
Trade name write-down		—			1,265
Other		11			163

Total restructuring—discontinued operations		11			3,232

Total restructuring (income) expense	$	(360	)	$	8,071

The restructuring (income)/expenses from continuing operations were recorded as a component of cost of sales and restructuring expenses related to discontinued operations were included in our income/(loss) from discontinued operations in our consolidated statement of income.

We had $0.6 million of restructuring liability remaining as of April 25, 2015, primarily related to severance, which we expect to be settled throughout fiscal 2016. We included restructuring charges related to discontinued operations in our income (loss) from discontinued operations in our consolidated statement of income.

During fiscal 2013, we recorded a restructuring charge of $2.6 million, mainly related to fixed asset and inventory write-downs related to the closure of our lumber processing operation in our Casegoods segment.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References+ Details

Discontinued Operations

12 Months Ended

Apr. 25, 2015

Discontinued Operations

Discontinued Operations

Note 3: Discontinued Operations

During the fourth quarter of fiscal 2014, we sold substantially all of the assets of our Bauhaus U.S.A. business unit to a group of investors and classified Lea Industries, a division of La-Z-Boy Casegoods, Inc., (formerly La-Z-Boy Greensboro, Inc.), as held for sale while we marketed that business for sale. We were unable to find a buyer for our Lea Industries business, and instead we liquidated all the assets, consisting mostly of inventory, and ceased operations of Lea Industries during the third quarter of fiscal 2015 (see Note 2 for additional information).

As a result of the sale of Bauhaus in fiscal 2014, we recorded an impairment to the value of the assets to be sold of $1.1 million, because the consideration paid was less than the recorded amount of the net assets to be sold. The operating results of our Bauhaus business unit are reported as discontinued operations for all periods presented. The transaction closed in the fourth quarter of fiscal 2014, and continuing cash flows from the end of the third quarter of fiscal 2014 through the closing date of the sale were not significant.

The operating results of Bauhaus and Lea Industries are reported as discontinued operations for all periods presented. We had historically reported the results of our Bauhaus business unit as a component of our Upholstery segment and Lea Industries as a component of our Casegoods segment.

In fiscal 2015, we recorded $3.8 million of income in discontinued operations related to our previously owned subsidiary, American Furniture Company, Incorporated. We sold this subsidiary in fiscal 2007, and reported it as discontinued operations at that time. The income related to the Continued Dumping and Subsidy Offset Act of 2000 ("CDSOA"), which provides for distribution of duties, collected by U.S. Customs and Border Protection from antidumping cases, to domestic producers that supported the antidumping petition related to wooden bedroom furniture imported from China. When we sold American Furniture Company, Incorporated, our contract provided that we would receive a portion of any such duties to which that entity was entitled. The remainder of the CDSOA income reported in discontinued operations in fiscal 2015 related to Lea Industries.

The results of our discontinued operations for the fiscal years ended April 25, 2015, April 26, 2014, and April 27, 2013, were as follows:

	Year Ended
(Amounts in thousands)	4/25/2015			4/26/2014			4/27/2013
Net sales	$	7,850		$	50,587		$	58,648
Operating income (loss) from discontinued operations	$	869		$	(6,032	)	$	25
Interest expense		8			—			—
Income from Continued Dumping and Subsidy Offset Act, net		4,211			—			—
Income tax benefit (expense)		(1,775	)		2,236			(8	)

Income (loss) from discontinued operations, net of tax	$	3,297		$	(3,796	)	$	17

Operating income from discontinued operations in fiscal 2014 included a $3.3 million restructuring charge.

The assets and liabilities of Lea Industries that were classified as held for sale at April 26, 2014, are detailed below. These assets were liquidated during fiscal 2015.

(Amounts in thousands)	4/26/14
Assets
Receivables, net	$	1,190
Inventories, net		3,013
Other current assets		87

Total assets	$	4,290


Liabilities
Accounts payable	$	234
Accrued expenses and other current liabilities		576
Other long-term liabilities		22

Total liabilities	$	832

In the consolidated statement of cash flows, the activity of these operating units was included along with our activity from continuing operations.

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

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+ Details

Inventories

12 Months Ended

Apr. 25, 2015

Inventories

Inventories

Note 4: Inventories

(Amounts in thousands)	4/25/2015			4/26/2014
Raw materials	$	75,024		$	71,247
Work in process		14,310			13,722
Finished goods		92,295			91,842

FIFO inventories		181,629			176,811
Excess of FIFO over LIFO		(24,840	)		(29,802	)

Total inventories	$	156,789		$	147,009

During the second quarter of fiscal 2015, we ceased manufacturing casegoods product domestically, and as a result the stream of domestically manufactured inventory will not be replaced. Our LIFO reserve was reduced as we liquidated the inventory.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References+ Details

Property, Plant and Equipment

12 Months Ended

Apr. 25, 2015

Property, Plant and Equipment

Property, Plant and Equipment

Note 5: Property, Plant and Equipment

(Amounts in thousands)	Estimated Useful Lives		4/25/2015			4/26/2014
Buildings and building fixtures		3 - 40 years	$	202,482		$	161,490
Machinery and equipment		3 - 15 years		142,949			140,561
Information systems and software		3 - 10 years		72,200			64,208
Land		—		15,409			15,344
Land improvements		3 - 30 years		14,747			10,820
Transportation equipment		3 - 10 years		17,051			17,420
Furniture and fixtures		3 - 15 years		20,996			14,104
Construction in progress				14,195			31,233

				500,029			455,180
Accumulated depreciation				(325,993	)		(327,645	)

Net property, plant and equipment			$	174,036		$	127,535

Depreciation expense from continuing operations for the fiscal years ended April 25, 2015, April 26, 2014, and April 27, 2013, was $19.3 million, $19.3 million, and $19.7 million, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details

Goodwill and Other Intangible Assets

12 Months Ended

Apr. 25, 2015

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Note 6: Goodwill and Other Intangible Assets

During fiscal 2015, we acquired the assets of two independent La-Z-Boy Furniture Galleries® dealers in exchange for $1.8 million in cash and forgiveness of net accounts and notes receivable of $1.0 million. We reacquired the right to own and operate La-Z-Boy Furniture Galleries® stores in those markets as a result of the acquisitions. In our Retail segment, we recorded an indefinite-lived intangible asset of $1.0 million related to these reacquired rights and $1.2 million of goodwill.

During fiscal 2014, we acquired the assets of two independent La-Z-Boy Furniture Galleries® dealers in exchange for $0.8 million in cash and forgiveness of net accounts and notes receivable of $3.0 million. We reacquired the right to own and operate La-Z-Boy Furniture Galleries® stores in those markets. We recorded an indefinite-lived intangible asset of $1.1 million in our Retail segment related to these reacquired rights, and goodwill of $1.1 million.

All of these indefinite-lived intangible assets and goodwill assets will be amortized and deducted for federal income tax purposes over 15 years. All acquired stores were included in our Retail segment results upon acquisition. The above acquisitions were not material to our financial position or our results of operations, and therefore, pro forma financial information is not presented. The net notes and accounts receivable acquired are considered non-cash investing activities as they relate to our consolidated statement of cash flows.

Key assumptions used in the assessment of our goodwill at April 25, 2015 were a discount rate of 11.5% and a terminal growth rate of 2.0%. The relative fair value of our reporting units significantly exceeds the carrying value of our goodwill as of April 25, 2015. All of our goodwill relates to our Retail segment. We did not have any goodwill impairment in fiscal 2014 or fiscal 2015.

The following is a roll-forward of goodwill for the fiscal years ended April 25, 2015, and April 26, 2014:

(Amounts in thousands)	Goodwill
Balance at April 27, 2013	$	12,837
Acquisitions		1,086

Balance at April 26, 2014		13,923
Acquisitions		1,241

Balance at April 25, 2015	$	15,164

The following is a roll-forward of other indefinite-lived intangible assets for the fiscal years ended April 25, 2015, and April 26, 2014:

(Amounts in thousands)	Trade names			Reacquired Rights		Total Other Intangible Assets
Balance at April 27, 2013	$	2,693		$	2,145	$	4,838
Acquisitions		—			1,093		1,093
Restructuring		(1,265	)		—		(1,265	)
Impairment charges		(122	)		—		(122	)

Balance at April 26, 2014		1,306			3,238		4,544
Acquisitions		—			1,025		1,025
Impairment charges		(111	)		—		(111	)

Balance at April 25, 2015	$	1,195		$	4,263	$	5,458

The impairment charges recorded in fiscal 2015 and fiscal 2014 related to our American Drew trade name, as a result of our annual impairment assessment.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References+ Details

Investments

12 Months Ended

Apr. 25, 2015

Investments

Investments

Note 7: Investments

Our consolidated balance sheet at April 25, 2015, included $16.8 million of available-for-sale investments and $1.1 million of trading securities in other current assets and $43.3 million of available-for-sale investments in other long-term assets. Available-for-sale investments of $15.9 million and trading securities of $1.8 million were included in other current assets, and available-for-sale investments of $43.2 million were included in other long-term assets in our consolidated balance sheet at April 26, 2014. At April 25, 2015, and April 26, 2014, $45.5 million and $44.7 million, respectively, of these investments were to enhance returns on our cash. We designated the remaining investments to fund future obligations of our non-qualified defined benefit retirement plan, our executive deferred compensation plan, and our performance compensation retirement plan.

The following is a summary of investments at April 25, 2015, and April 26, 2014:

Fiscal 2015

(Amounts in thousands)	Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities	$	2,014	$	(78	)	$	9,251
Fixed income		224		(14	)		50,358
Mutual funds		—		—			1,127
Other		1		(22	)		459

Total securities	$	2,239	$	(114	)	$	61,195

Fiscal 2014

(Amounts in thousands)	Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities	$	1,246	$	(52	)	$	8,216
Fixed income		166		(44	)		50,510
Mutual funds		—		—			1,787
Other		1		(10	)		425

Total securities	$	1,413	$	(106	)	$	60,938

The following table summarizes sales of available-for-sale securities (for the fiscal years ended):

(Amounts in thousands)	4/25/2015			4/26/2014			4/27/2013
Proceeds from sales	$	33,750		$	34,557		$	18,662
Gross realized gains		285			857			4,486
Gross realized losses		(74	)		(559	)		(1,316	)

The fair value of fixed income available-for-sale securities by contractual maturity was $16.9 million within one year, $32.0 million within two to five years, $1.3 million within six to ten years and $0.2 million thereafter.

- Definition

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

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+ Details

Accrued Expenses and Other Current Liabilities

12 Months Ended

Apr. 25, 2015

Accrued Expenses and Other Current Liabilities

Accrued Expenses and Other Current Liabilities

Note 8: Accrued Expenses and Other Current Liabilities

(Amounts in thousands)	4/25/2015		4/26/2014
Payroll and other compensation	$	40,711	$	42,667
Accrued product warranty, current portion		10,182		9,815
Customer deposits		23,722		20,903
Other current liabilities		33,711		29,491

Accrued expenses and other current liabilities	$	108,326	$	102,876

Included in other current liabilities at April 25, 2015, was a book overdraft of $7.3 million for outstanding checks.

Debt

12 Months Ended

Apr. 25, 2015

Debt

Debt

Note 9: Debt

(Amounts in thousands)	4/25/2015			4/26/2014
Industrial revenue bonds	$	—		$	7,100
Capital leases		830			674

Total debt		830			7,774
Less: current portion		(397	)		(7,497	)

Long-term debt	$	433		$	277

We maintain a revolving credit facility secured primarily by all of our accounts receivable, inventory, and cash deposit and securities accounts. We amended this agreement on December 30, 2014, extending its maturity date to December 30, 2019. 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 April 25, 2015, we were not subject to the fixed charge coverage ratio requirement, had no borrowings outstanding under the agreement, and had excess availability of $145.0 million of the $150.0 million credit commitment.

In the first quarter of fiscal 2015, we paid our remaining industrial revenue bond that was used to finance the construction of some of our manufacturing facilities.

Fair value of our debt approximates the carrying value.

Capital leases consist primarily of long-term commitments for the purchase of information technology equipment and have maturities ranging from fiscal 2016 to fiscal 2020. Interest rates range from 2.7% to 7.6%.

Maturities of long-term capital leases, subsequent to April 25, 2015, are $0.2 million in fiscal 2017, $0.1 million in fiscal 2018, $0.1 million in fiscal 2019, and less than $0.1 million in fiscal 2020.

Cash paid for interest during fiscal years 2015, 2014 and 2013 was $0.5 million, $0.5 million, and $0.7 million, respectively.

Operating Leases

12 Months Ended

Apr. 25, 2015

Operating Leases

Operating Leases

Note 10: Operating Leases

We have operating leases for one manufacturing facility, executive and sales offices, warehouses, showrooms and retail facilities, as well as for transportation equipment, information technology and other equipment. The operating leases expire at various dates through fiscal 2031. We have certain retail facilities which we sublease to outside parties. The total rent liability included in other long-term liabilities as of April 25, 2015, and April 26, 2014, was $13.5 million and $12.8 million, respectively.

The future minimum rentals for all non-cancelable operating leases and future rental income from subleases are as follows (for the fiscal years):

(Amounts in thousands)	Future Minimum Rentals		Future Minimum Income
2016	$	55,576	$	4,394
2017		54,587		4,160
2018		51,775		4,101
2019		46,212		4,104
2020		40,015		4,132
2021 and beyond		115,902		8,756

Total	$	364,067	$	29,647

Rental expense and rental income from continuing operations for operating leases were as follows (for the fiscal years ended):

(Amounts in thousands)	4/25/2015		4/26/2014		4/27/2013
Rental expense	$	55,808	$	51,132	$	47,872
Rental income		4,966		5,138		5,095

- Definition

The entire disclosure for lessee entity's leasing arrangements including, but not limited to, all of the following: (a.) The basis on which contingent rental payments are determined, (b.) The existence and terms of renewal or purchase options and escalation clauses, (c.) Restrictions imposed by lease agreements, such as those concerning dividends, additional debt, and further leasing.

+ References+ Details

Retirement and Welfare

12 Months Ended

Apr. 25, 2015

Retirement and Welfare

Retirement and Welfare

Note 11: Retirement and Welfare

Voluntary 401(k) retirement plans are offered to eligible employees within certain U.S. operating units. For most operating units, we make matching contributions based on specific formulas. We also make supplemental contributions to this plan for eligible employees based on achievement of operating performance targets.

A performance compensation retirement plan ("PCRP") is maintained for eligible highly compensated employees. The company contributions to this plan are based on achievement of performance targets. As of April 25, 2015, and April 26, 2014, we had $3.9 million and $2.5 million, respectively, of obligations for this plan included in other long-term liabilities.

We also maintain an executive deferred compensation plan for eligible highly compensated employees. An element of this plan allows contributions for eligible highly compensated employees. As of April 25, 2015, and April 26, 2014, we had $15.6 million and $12.3 million, respectively, of obligations for this plan included in other long-term liabilities. We had life insurance contracts related to this plan and the PCRP at April 25, 2015, and at April 26, 2014, with cash surrender values of $17.4 million and $10.9 million, respectively, which are included in other long-term assets. Mutual funds related to this plan are considered trading securities and are included in other current assets at April 25, 2015, and at April 26, 2014, with market values of $1.1 million and $1.8 million, respectively.

We maintain a non-qualified defined benefit retirement plan for certain former salaried employees. Included in other long-term liabilities were plan obligations of $17.5 million and $16.2 million at April 25, 2015, and April 26, 2014, respectively, which represented the unfunded projected benefit obligation of this plan. During fiscal 2015, the total cost recognized for this plan was $0.8 million, which primarily related to interest cost. The actuarial loss recognized in accumulated other comprehensive loss was $1.7 million and the benefit payments during the year were $1.1 million. Benefit payments are scheduled to be approximately $1.1 million annually for the next ten years. The discount rate used to determine the obligations under this plan was 3.9% as of the end of fiscal 2015. During fiscal 2014, the total cost recognized for this plan was $0.8 million, which primarily related to interest cost. The actuarial gain recognized in accumulated other comprehensive loss was $0.4 million and the benefit payments during the year were $1.1 million. The discount rate used to determine the obligations under this plan was 4.3% as of the end of fiscal 2014. This plan is not funded and is excluded from the obligation charts and disclosures that follow. We hold available-for-sale marketable securities to fund future obligations of this plan in a Rabbi trust (see Notes 7 and 19). We are not required to fund the non-qualified defined benefit retirement plan in fiscal year 2016; however, we have the discretion to make contributions to the Rabbi trust.

We also maintain a defined benefit pension plan for eligible factory hourly employees at our La-Z-Boy operating unit. This plan is closed to new participants but active participants continue to earn service cost. The measurement dates for the pension plan assets and benefit obligations were April 25, 2015, and April 26, 2014, in the years presented.

The changes in plan assets and benefit obligations were recognized in accumulated other comprehensive loss as follows (pre-tax) (for the fiscal years ended):

(Amounts in thousands)	4/25/2015			4/26/2014
Beginning of year net actuarial loss	$	39,425		$	48,745
Net current year actuarial (gain) loss		836			(5,932	)
Amortization of actuarial loss		(2,659	)		(3,388	)

End of year net actuarial loss	$	37,602		$	39,425

In fiscal 2016, we expect to amortize $3.0 million of unrecognized actuarial losses as a component of pension expense.

The combined net periodic pension cost and retirement costs for retirement plans related to continuing operations were as follows (for the fiscal years ended):

(Amounts in thousands)		4/25/2015			4/26/2014			4/27/2013
Service cost		$	1,114		$	1,241		$	1,231
Interest cost			5,070			4,822			5,325
Expected return on plan assets			(5,077	)		(6,800	)		(6,855	)
Net amortization and deferral			2,658			3,388			3,024

Net periodic pension cost (hourly plan)			3,765			2,651			2,725
401(k)*			6,270			5,802			5,198
PCRP*			1,377			2,513			—
Other*			124			223			191

Total retirement costs (excluding non-qualified defined benefit retirement plan)		$	11,536		$	11,189		$	8,114



*	Not determined by an actuary

The funded status of the defined benefit pension plan for eligible factory hourly employees was as follows:

(Amounts in thousands)	4/25/2015			4/26/2014
Change in benefit obligation
Benefit obligation at beginning of year	$	116,870		$	123,495
Service cost		1,114			1,241
Interest cost		5,070			4,822
Actuarial (gain) loss		3,664			(3,565	)
Benefits paid		(5,638	)		(9,123	)

Benefit obligation at end of year		121,080			116,870
Change in plan assets
Fair value of plan assets at beginning of year		111,474			111,430
Actual return on plan assets		7,906			9,494
Other expenses		—			(327	)
Benefits paid		(5,638	)		(9,123	)

Fair value of plan assets at end of year		113,742			111,474

Funded status	$	(7,338	)	$	(5,396	)

Amounts included in the consolidated balance sheet related to the defined benefit pension plan for eligible factory hourly employees consist of:

(Amounts in thousands)		4/25/2015			4/26/2014
Other long-term liabilities		$	(7,338	)	$	(5,396	)

The actuarial assumptions for the defined benefit pension plan for eligible factory hourly employees were as follows (for the fiscal years ended):

	4/25/2015			4/26/2014			4/27/2013
Discount rate used to determine benefit obligations		4.2	%		4.4	%		4.0	%
Discount rate used to determine net benefit cost		4.4	%		4.0	%		4.6	%
Long-term rate of return		4.7	%		4.7	%		6.3	%

Consistent with prior years, the discount rate is calculated by matching a pool of high quality bond payments to the plan's expected future benefit payments as determined by our actuary. The long-term rate of return was determined based on the average rate of earnings expected on the funds invested or to be invested to provide the benefits of these plans. This included considering the trust's asset allocation, investment strategy, and the expected returns likely to be earned over the life of the plans. This is based on our goal of earning the highest rate of return while maintaining acceptable levels of risk. We strive to have assets within the plan that are diversified so that unexpected or adverse results from one asset class will not have a significant negative impact on the entire portfolio.

Our investment objective is to minimize the volatility of the value of our pension assets relative to pension liabilities and to ensure assets are sufficient to pay plan benefits by matching the characteristics of our assets relative to our liabilities. At the end of fiscal 2015, approximately 90% of the plan's assets were invested in fixed rate investments with a duration that approximates the duration of its liabilities, and the remainder of the assets were invested in equity investments.

The investment strategy and policy for the pension plan reflects a balance of risk-reducing and return-seeking considerations. The objective of minimizing the volatility of assets relative to liabilities is addressed primarily through asset-liability matching and asset diversification. The fixed income target asset allocation matches the bond-like and long-dated nature of the pension liabilities. Assets are broadly diversified within all asset classes to achieve adequate risk-adjusted returns while reducing the sensitivity of the pension plan funding status to market interest rates and equity return volatility, and maintaining liquidity sufficient to meet our defined benefit pension plan obligations.

Investments are reviewed at least quarterly and rebalanced as needed. The overall expected long-term rate of return is determined by using long-term historical returns for equity and debt securities in proportion to their weight in the investment portfolio.

The following table presents the fair value of the assets in our defined benefit pension plan for eligible factory hourly employees at April 25, 2015, and April 26, 2014. The various levels of the fair value hierarchy are described in Note 19.

Fiscal 2015

(Amounts in thousands)	Level 1(a)		Level 2(a)		Level 3
Cash and equivalents	$	149	$	3,685	$	—
Equity funds		23,120		7,702		—
Debt funds		—		79,086		—

Total	$	23,269	$	90,473	$	—

(a)

There were no transfers between Level 1 and Level 2 during fiscal 2015.

Fiscal 2014

(Amounts in thousands)	Level 1(b)		Level 2(b)		Level 3
Cash and equivalents	$	207	$	6,083	$	—
Equity funds		22,623		7,736		—
Debt funds		—		74,825		—

Total	$	22,830	$	88,644	$	—

(b)

There were no transfers between Level 1 and Level 2 during fiscal 2014.

Level 1 retirement plan assets include U.S. currency held by a designated trustee and equity funds of common and preferred securities issued by U.S. and non-U.S. corporations. These equity funds are traded actively on exchanges and price quotes for these shares are readily available.

Cash and equivalents of commingled funds generally valued using observable market data are categorized as Level 2 assets. Equity funds categorized as Level 2 include common trust funds which are composed of shares or units in open ended funds with active issuances and redemptions. The value of these funds is determined based on the net asset value of the funds, the underlying assets of which are publicly traded on exchanges. Price quotes for the assets held by these funds are readily available. Debt funds categorized as Level 2 consist of corporate fixed income securities issued by U.S. and non-U.S. corporations and fixed income securities issued directly by the U.S. Treasury or by government-sponsored enterprises which are valued using a bid evaluation process with bid data provided by independent pricing sources using observable market data.

Our funding policy is to contribute to our defined benefit pension plan amounts sufficient to meet the minimum funding requirement as defined by employee benefit and tax laws, plus additional amounts which we determine to be appropriate. During fiscal 2015, we made no contributions to our defined benefit pension plan and we currently expect to contribute $7 million to our defined benefit pension plan during fiscal 2016.

The expected benefit payments by our defined benefit pension plan for eligible factory hourly employees for each of the next five fiscal years and for periods thereafter are presented in the following table:

(Amounts in thousands)	Benefit Payments
2016	$	6,195
2017		6,340
2018		6,504
2019		6,675
2020		6,856
2021 to 2025		36,373

	$	68,943

- Definition

The entire disclosure for pension and other postretirement benefits.

+ References+ Details

Product Warranties

12 Months Ended

Apr. 25, 2015

Product Warranties

Product Warranties

Note 12: 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 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:

(Amounts in thousands)	4/25/2015			4/26/2014
Balance as of the beginning of the year	$	16,013		$	15,525
Accruals during the year		19,017			16,373
Accrual adjustments		(953	)		(945	)
Reclass to discontinued operations		—			(367	)
Settlements during the year		(17,207	)		(14,573	)

Balance as of the end of the year	$	16,870		$	16,013

As of April 25, 2015, and April 26, 2014, we included $10.2 million and $9.8 million, respectively, of our product warranty liability in accrued expenses and other current liabilities in 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. Our accrual adjustments reflect a change in the prior estimates of our product warranty liability.

Stock-Based Compensation

12 Months Ended

Apr. 25, 2015

Stock-Based Compensation

Stock-Based Compensation

Note 14: Stock-Based Compensation

The La-Z-Boy Incorporated 2010 Omnibus Incentive Plan provides for the grant of stock options, stock appreciation rights, restricted stock, stock units (including deferred stock units), unrestricted stock, dividend equivalent rights, and short-term cash incentive awards. Under this plan, as amended, the aggregate number of common shares that may be issued through awards of any form is 8.7 million shares. No grants may be issued under our previous plans.

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

(Amounts in thousands)	4/25/2015		4/26/2014		4/27/2013
Equity-based awards expense	$	6,780	$	8,739	$	11,458
Liability-based awards expense		4,597		5,736		2,170

Total stock-based compensation expense	$	11,377	$	14,475	$	13,628

The table below summarizes the grants made during fiscal 2015:

(Shares/units in thousands)	Shares/units granted	Liability/ Equity award	Settlement
Stock options	374	Equity	Common shares
Restricted stock	116	Equity	Common shares
Restricted stock units—directors	33	Equity	Common shares
Performance-based shares	192	Equity	Common shares

Stock Options. The La-Z-Boy Incorporated 2010 Omnibus Incentive Plan authorizes grants to certain employees and directors to purchase common shares at a specified price, which may not be less than 100% of the current market price of the stock at the date of grant. We granted 373,711 stock options to employees during the first quarter of fiscal 2015, and we also have stock options outstanding from previous grants. 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. Granted options outstanding under the former long-term equity award plan remain in effect and have a term of five or ten years.

Stock option expense recognized in selling, general and administrative expense for fiscal years 2015, 2014, and 2013 was $3.0 million, $2.1 million, and $2.3 million, respectively. We received $1.4 million, $3.6 million, and $2.9 million in cash during fiscal 2015, fiscal 2014, and fiscal 2013, respectively, for exercises of stock options.

Plan activity for stock options under the above plans is as follows:

	Number of Shares (In Thousands)			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (In Thousands)
Outstanding at April 26, 2014		798		$	11.79		7.5	$	10,185
Granted		374			23.63
Exercised		(130	)		10.71			$	2,011

Outstanding at April 25, 2015		1,042		$	16.15		7.6	$	11,773


Exercisable at April 25, 2015		382		$	10.78		6.4	$	6,387

The aggregate intrinsic value of options exercised was $8.3 million and $6.0 million in fiscal 2014 and fiscal 2013, respectively. As of April 25, 2015, our total unrecognized compensation cost related to non-vested stock option awards was $1.8 million, which we expect to recognize over a weighted-average remaining vesting term of all unvested awards of 1.8 years. During the year ended April 25, 2015, 0.2 million shares vested.

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. The fair value of stock options granted during fiscal 2015, fiscal 2014, and fiscal 2013 were calculated using the following assumptions:

	4/25/2015			4/26/2014			4/27/2013
Risk-free interest rate		1.59	%		0.84	%		0.75	%
Dividend rate		1.00	%		0.84	%		0	%
Expected life in years		5.0			5.0			5.0
Stock price volatility		54.4	%		81.3	%		83.8	%
Fair value per share	$	10.45		$	11.63		$	7.87

Stock Appreciation Rights. Under the La-Z-Boy Incorporated 2010 Omnibus Incentive Plan, the Compensation Committee of the board of directors is authorized to award stock appreciation rights to certain employees. We did not grant any SARs to employees during fiscal 2015, 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 remeasure 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. We recognized compensation expense of $0.7 million, $1.1 million, and $0.6 million related to SARs in selling, general and administrative expense for the years ended April 25, 2015, April 26, 2014, and April 27, 2013, respectively. Our unrecognized compensation cost at April 25, 2015, related to SARs was $0.7 million based on the fair value on that date, and is expected to be recognized over a weighted-average remaining contractual term of all unvested awards of 1.3 years.

We granted SARs in each of the fiscal years ended April 26, 2014, and April 27, 2013. At April 25, 2015, we measured the fair value of the SARs granted during these fiscal years using the following assumptions:

	Fiscal 2014 grant			Fiscal 2013 grant
Risk-free interest rate		1.02	%		0.64	%
Dividend rate		1.16	%		1.16	%
Expected life in years		3.2			2.2
Stock price volatility		34.0	%		30.0	%
Fair value per share	$	10.24		$	15.09

Restricted Stock. Under the La-Z-Boy Incorporated 2010 Omnibus Incentive Plan, the Compensation Committee of the board of directors is authorized to award restricted common shares to certain employees. We awarded 115,811 shares of restricted stock to employees during fiscal 2015. We issue restricted stock at no cost to the employees, and the shares are held in an escrow account until the vesting period ends. In the event of an employee's termination during the escrow period, 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 majority of the restricted stock shares were awarded in the first quarter of fiscal 2015 with a fair value of $23.63 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. We recorded expense related to the restricted stock in selling, general and administrative expense of $0.8 million, $0.5 million, and $1.0 million during fiscal 2015, fiscal 2014, and fiscal 2013, respectively. Our unrecognized compensation cost at April 25, 2015, related to restricted shares was $2.2 million and is expected to be recognized over a weighted-average remaining contractual term of all unvested awards of 3.2 years.

The following table summarizes information about non-vested share awards as of and for the year ended April 25, 2015:

	Number of Shares (In Thousands)			Weighted Average Grant Date Fair Value
Non-vested shares at April 26, 2014		102		$	7.77
Granted		116			23.68
Vested		(66	)		6.92
Canceled		(10	)		17.68

Non-vested shares at April 25, 2015		142		$	20.50

Restricted Stock Units. Under the La-Z-Boy Incorporated 2010 Omnibus Incentive Plan, the Compensation Committee of the board of directors is authorized to award restricted stock units to certain employees and our non-employee directors.

We did not grant any restricted stock units to employees during fiscal 2015, 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 remeasure 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 April 25, 2015, was $27.49, 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. We recognized compensation expense related to restricted stock units granted to employees of $1.5 million, $1.6 million, and $0.5 million in selling, general and administrative expense for the years ended April 25, 2015, April 26, 2014, and April 27, 2013, respectively. Our unrecognized compensation cost at April 25, 2015, related to employee restricted stock units was $2.7 million based on the market value (intrinsic value) on that date, and is expected to be recognized over a weighted-average remaining contractual term of all unvested awards of 1.8 years.

The following table summarizes information about non-vested stock units as of and for the year ended April 25, 2015:

	Number of Units (In Thousands)			Weighted Average Grant Date Fair Value
Non-vested units at April 26, 2014		221		$	15.90
Vested		(63	)		15.35
Canceled		(12	)		16.14

Non-vested units at April 25, 2015		146		$	16.12

Restricted stock units granted to directors are offered at no cost to the directors and vest when a director leaves the board. During fiscal 2015, fiscal 2014, and fiscal 2013 we granted less than 0.1 million restricted stock units each year to our non-employee directors. We account for these restricted stock units as equity-based awards as they will be settled in shares of our common stock upon vesting. We measure and recognize compensation expense for these awards based on the market price of our common shares on the date of grant, which was $21.81, $21.20, and $13.99 for the awards granted in fiscal 2015, fiscal 2014, and fiscal 2013, respectively. Our expense relating to the non-employee directors restricted stock units which we recorded in selling, general and administrative expense was $0.7 million in fiscal 2015, fiscal 2014, and fiscal 2013.

Performance Awards. Under the La-Z-Boy Incorporated 2010 Omnibus Incentive Plan, the Compensation Committee of the board of directors is authorized to award common shares and stock units to certain employees based on the attainment of certain financial goals over a given performance period. The awards are offered at no cost to the employees. In the event of an employee's termination during the vesting period, the potential right to earn shares/units under this program is generally forfeited.

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 award 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. The number of performance-based units/shares granted were as follows:

Performance-based awards granted (Shares/units in thousands)	Number of Units		Number of Shares
Fiscal 2013 grant		146		133
Fiscal 2014 grant		35		191
Fiscal 2015 grant		—		192

Based on our financial results for fiscal 2015, certain performance conditions were met for some of our outstanding performance-based awards. The number of awards earned based on performance conditions were as follows:

Performance-based awards earned (Shares/units in thousands)	Number of Shares/Units
Fiscal 2013 performance-based shares		171
Fiscal 2013 performance-based units		154
Fiscal 2014 performance-based shares		84
Fiscal 2014 performance-based units		14
Fiscal 2015 performance-based shares		49

The fiscal 2013, fiscal 2014, and fiscal 2015 shares will be settled in shares and the fiscal 2013 and fiscal 2014 units will be settled in cash if service conditions are met, requiring employees to remain employed with the company through the end of the three-year-performance periods.

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 2015, fiscal 2014, and fiscal 2013 that vest based on attaining performance goals was $22.91, $18.58, and $11.97, respectively, 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 2015, fiscal 2014, and fiscal 2013 grants of shares that vest based on market conditions was $29.64, $26.08, and $15.41, respectively. Our unrecognized compensation cost at April 25, 2015, related to performance-based shares was $3.1 million based on the current estimates of the number of awards that will vest, and is expected to be recognized over a weighted-average remaining contractual term of all unvested awards of 1.4 years.

Equity-based compensation expenses related to performance-based shares recognized in our consolidated statement of income were as follows (for the fiscal years ended):

(Amounts in thousands)	4/25/2015		4/26/2014		4/27/2013
Fiscal 2011 grant	$	—	$	—	$	1,707
Fiscal 2012 grant		—		3,603		5,442
Fiscal 2013 grant		568		849		440
Fiscal 2014 grant		769		1,006		—
Fiscal 2015 grant		908		—		—

We account for performance-based units as liability-based awards because upon vesting, they will be paid in cash. For units that vest based on our results relative to performance goals, we expense as compensation cost over the performance period the fair value of each unit, taking into account the probability that the performance goals will be attained. The fair value of each unit we granted in fiscal 2014 and fiscal 2013 that vest based on attaining performance goals was $27.09 and $27.41, respectively, the market value of our common shares on the last day of the reporting period less the dividends we expect to pay before the awards vest. For performance-based units that vest based on market conditions, we use a Monte Carlo valuation model to estimate each unit's fair value as of the last day of the reporting period. We remeasure and adjust the liability for these units based on the Monte Carlo valuation at the end of each reporting period until we pay out the units. Based on the Monte Carlo model, the fair value at April 25, 2015, of the fiscal 2014 and fiscal 2013 grants of units that vest based on market conditions was $42.37 and $51.75, respectively. During fiscal 2015, fiscal 2014, and fiscal 2013, we recognized $2.0 million, $2.2 million, and $0.7 million, respectively, of expense related to performance-based units. Our unrecognized compensation cost at April 25, 2015, related to performance-based units was $0.3 million based on the current share price and current estimates of the number of awards that will vest, and is expected to be recognized over a weighted-average remaining contractual term of all unvested awards of 1.1 years.

Previously Granted Deferred Stock Units. We account for awards under our deferred stock unit plan for non-employee directors as liability-based awards because upon exercise these awards will be paid in cash. We measure and recognize compensation expense based on the market price of our common stock on the grant date. Our liability is remeasured and adjusted at the end of each reporting period until paid. For purposes of dividends and for measuring the liability, each deferred stock unit is the equivalent of one common share. As of April 25, 2015, we had 0.1 million deferred stock units outstanding. We recorded expense relating to the deferred stock units in selling, general and administrative expense of $0.4 million, $0.8 million, and $0.3 million during fiscal 2015, fiscal 2014, and fiscal 2013, respectively. Our liability related to these awards was $3.4 million and $3.0 million at April 25, 2015, and April 26, 2014, respectively, and is included as a component of other long-term liabilities on our consolidated balance sheet.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details

Accumulated Other Comprehensive Loss

12 Months Ended

Apr. 25, 2015

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

Note 15: Accumulated Other Comprehensive Loss

The activity in accumulated other comprehensive loss for the fiscal years ended April 25, 2015, and April 26, 2014, were as follows:

(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 27, 2013	$	4,779		$	231		$	474		$	(40,980	)	$	(35,496	)
Changes before reclassifications		(2,324	)		(780	)		1,308			6,286			4,490
Amounts reclassified to net income		—			321			(300	)		3,566			3,587
Tax effect		—			175			(384	)		(3,752	)		(3,961	)

Other comprehensive income (loss) attributable to La-Z-Boy Incorporated		(2,324	)		(284	)		624			6,100			4,116

Balance at April 26, 2014		2,455			(53	)		1,098			(34,880	)		(31,380	)
Changes before reclassifications		(938	)		(1,857	)		1,033			(2,517	)		(4,279	)
Amounts reclassified to net income		—			1,038			(214	)		2,806			3,630
Tax effect		—			312			(312	)		(110	)		(110	)

Other comprehensive income (loss) attributable to La-Z-Boy Incorporated		(938	)		(507	)		507			179			(759	)

Balance at April 25, 2015	$	1,517		$	(560	)	$	1,605		$	(34,701	)	$	(32,139	)

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, and 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 at April 25, 2015, and April 26, 2014, were as follows:

(Amounts in thousands)	4/25/2015			4/26/2014
Balance as of the beginning of the year	$	7,832		$	7,140
Net income		1,198			1,324
Other comprehensive income		(76	)		(730	)
Change in non-controlling interest		—			98

Balance as of the end of the year	$	8,954		$	7,832

- 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.

+ References

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+ Details

Segment Information

12 Months Ended

Apr. 25, 2015

Segment Information

Segment Information

Note 16: Segment Information

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

Upholstery Segment. The Upholstery segment mainly consists of two operating units: La-Z-Boy and England. This segment manufactures, imports, and exports 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 Comfort Studio® and England Custom Comfort Center locations, major dealers and 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 to major dealers, as well as La-Z-Boy Furniture Galleries® stores, along with a wide cross-section of other independent retailers.

Retail Segment. The Retail segment consists of 110 company-owned La-Z-Boy Furniture Galleries® stores. During fiscal 2015, we acquired one La-Z-Boy Furniture Galleries® store in northern Indiana and four La-Z-Boy Furniture Galleries® stores in the Southern California market. During fiscal 2014, we acquired three La-Z-Boy Furniture Galleries® stores in the Las Vegas market and two La-Z-Boy Furniture Galleries® stores in northeast Ohio. During fiscal 2013, we acquired nine La-Z-Boy Furniture Galleries® stores in southern Ohio. All of these acquired stores were previously independently owned and operated. The Retail segment sells upholstered furniture, and some casegoods and other accessories, to end consumers through the retail network.

Restructuring. During fiscal 2014, we committed to a restructuring of our casegoods business to transition to an all-import model for our wood furniture. In fiscal 2015 and fiscal 2014, we recorded restructuring income of $0.4 million and restructuring charges of $4.8 million, respectively, in continuing operations (see Note 2 for additional information). During fiscal 2013, we recorded a restructuring charge of $2.6 million in continuing operations, mainly related to fixed asset and inventory write-downs related to the closure of our lumber processing operation in our Casegoods segment. See Note 2 for further details of this restructuring. We do not include restructuring costs in the results of our reportable segments.

We did not have any single customer whose purchases amounted to more than 2% of our consolidated or Upholstery segment sales in fiscal 2015.

The accounting policies of the operating segments are the same as those described in Note 1. We account for intersegment revenue transactions between our segments consistent with independent third party transactions, that is, at current market prices. As a result, the manufacturing profit related to sales to our Retail segment is included within the appropriate Upholstery or Casegoods segment. Operating income realized on intersegment revenue transactions is therefore generally consistent with the operating income realized on our revenue from independent third party transactions. Segment operating income is based on profit or loss from operations before interest expense, interest income, income from continued dumping and subsidy offset act, other income (expense) and income taxes. Identifiable assets are cash and equivalents, notes and accounts receivable, net inventories, net property, plant and equipment, goodwill and other intangible assets. Our unallocated assets include deferred income taxes, corporate assets (including a portion of cash and equivalents), business held for sale, and various other assets. Sales are attributed to countries on the basis of the customer's location.

(Amounts in thousands)	4/25/2015			4/26/2014			4/27/2013
Sales
Upholstery segment:
Sales to external customers	$	990,237		$	959,118		$	902,454
Intersegment sales		161,565			139,932			127,311

Upholstery segment sales		1,151,802			1,099,050			1,029,765

Casegoods segment:
Sales to external customers		98,886			97,095			104,387
Intersegment sales		10,827			9,657			8,140

Casegoods segment sales		109,713			106,752			112,527

Retail segment sales		333,978			298,642			264,723
Corporate and Other		2,294			2,463			2,313
Eliminations		(172,392	)		(149,589	)		(135,451	)

Consolidated sales	$	1,425,395		$	1,357,318		$	1,273,877


Operating Income (Loss)
Upholstery segment	$	121,403		$	117,688		$	95,571
Casegoods segment		6,408			3,397			3,703
Retail segment		11,466			11,128			4,099
Restructuring		371			(4,839	)		(2,631	)
Corporate and Other		(36,483	)		(38,078	)		(33,139	)

Consolidated operating income		103,165			89,296			67,603
Interest expense		523			548			746
Interest income		1,030			761			620
Income from Continued Dumping and Subsidy Offset Act, net		1,212			—			—
Other income, net		744			2,050			3,208

Income from continuing operations before income taxes	$	105,628		$	91,559		$	70,685


Depreciation and Amortization
Upholstery segment	$	12,669		$	13,778		$	14,275
Casegoods segment		813			1,171			1,338
Retail segment		2,910			2,520			2,676
Corporate and Other		5,891			5,566			4,674

Consolidated depreciation and amortization	$	22,283		$	23,035		$	22,963


Capital Expenditures
Upholstery segment	$	14,979		$	6,579		$	9,857
Casegoods segment		1,149			149			1,058
Retail segment		2,993			4,379			4,251
Corporate and Other		51,198			22,623			10,218

Consolidated capital expenditures	$	70,319		$	33,730		$	25,384


Assets
Upholstery segment	$	317,102		$	305,814		$	296,108
Casegoods segment		48,403			53,299			70,147
Retail segment		126,189			119,816			73,496
Unallocated assets		282,910			292,366			280,620

Consolidated assets	$	774,604		$	771,295		$	720,371


Long-Lived Assets by Geographic Location
Domestic	$	187,224		$	147,538		$	133,208
International		8,359			6,805			8,168

Consolidated long-lived assets	$	195,583		$	154,343		$	141,376


Sales by Country
United States		87	%		86	%		86	%
Canada		7	%		8	%		9	%
Other		6	%		6	%		5	%

Total		100	%		100	%		100	%

- 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.

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+ Details

Income Taxes

12 Months Ended

Apr. 25, 2015

Income Taxes

Income Taxes

Note 17: Income Taxes

Income before income taxes for continuing operations consists of the following (for the fiscal years ended):

(Amounts in thousands)	4/25/2015		4/26/2014		4/27/2013
United States	$	96,605	$	82,705	$	63,193
Foreign		9,023		8,854		7,492

Total	$	105,628	$	91,559	$	70,685

Income tax expense (benefit) applicable to continuing operations consists of the following components (for the fiscal years ended):

(Amounts in thousands)	4/25/2015		4/26/2014			4/27/2013
Federal:
—current	$	28,887	$	24,695		$	17,049
—deferred		406		1,495			1,341
State:
—current		4,573		5,345			2,746
—deferred		637		(2,082	)		464
Foreign:
—current		2,281		1,375			739
—deferred		170		555			1,181

Total income tax expense (benefit)	$	36,954	$	31,383		$	23,520

Our effective tax rate differs from the U.S. federal income tax rate for the following reasons:

(% of pre-tax income)	4/25/2015			4/26/2014			4/27/2013
Statutory tax rate		35.0	%		35.0	%		35.0	%
Increase (reduction) in income taxes resulting from:
State income taxes, net of federal benefit		3.5			3.1			3.0
U.S. manufacturing benefit		(2.1	)		(1.0	)		(2.0	)
Change in valuation allowance		(0.4	)		(1.2	)		(0.3	)
Gain on sale of marketable securities		—			—			(1.6	)
Miscellaneous items		(1.0	)		(1.6	)		(0.8	)

Effective tax rate		35.0	%		34.3	%		33.3	%

For our foreign operating units, we permanently reinvest the earnings and consequently do not record a deferred tax liability relative to the undistributed earnings. We have reinvested approximately $24.0 million of the earnings. The potential deferred tax attributable to these earnings would be approximately $3.1 million.

The primary components of our deferred tax assets and (liabilities) were as follows:

(Amounts in thousands)	4/25/2015			4/26/2014
Assets
Deferred and other compensation	$	22,085		$	19,774
Allowance for doubtful accounts		2,255			5,456
State income tax—net operating losses, credits and other		6,032			6,440
Pension		2,828			2,097
Warranty		6,466			6,247
Rent		5,174			4,824
Workers' compensation		4,173			4,068
Employee benefits		3,096			2,838
Other		1,262			3,760
Valuation allowance		(4,322	)		(4,700	)

Total deferred tax assets		49,049			50,804
Liabilities
Property, plant and equipment		(2,722	)		(3,337	)

Net deferred tax assets	$	46,327		$	47,467

The deferred tax assets associated with loss carry forwards and the related expiration dates are as follows:

(Amounts in thousands)	Amount		Expiration
Various U.S. state net operating losses (excluding federal tax effect)	$	8,678		Fiscal 2016 - 2034
Foreign capital losses		20		Indefinite

We evaluate our deferred taxes to determine if a valuation allowance is required. Accounting standards require that we assess whether a valuation allowance should be established based on the consideration of all available evidence using a "more likely than not" standard with significant weight being given to evidence that can be objectively verified.

The evaluation of the amount of net deferred tax assets expected to be realized necessarily involves forecasting the amount of taxable income that will be generated in future years. We have forecasted future results using estimates management believes to be reasonable, which are based on objective evidence such as expected trends resulting from certain leading economic indicators. Based upon our net deferred tax asset position at April 25, 2015, we estimate that about $118 million of future taxable income would need to be generated to fully recover our net deferred tax assets. The realization of deferred income tax assets is dependent on future events. Actual results inevitably will vary from management's forecasts. Such variances could result in adjustments to the valuation allowance on deferred tax assets in future periods, and such adjustments could be material to the financial statements.

During fiscal 2015, we recorded a $0.4 million decrease in our valuation allowance for deferred tax assets that are now considered more likely than not to be realized. This determination was primarily the result of our assessment of our cumulative pre-tax income in certain jurisdictions. A summary of the valuation allowance by jurisdiction is as follows:

Jurisdiction	4/26/2014 Valuation Allowance					4/25/2015 Valuation Allowance
(Amounts in thousands)	4/26/2014 Valuation Allowance		Change			4/25/2015 Valuation Allowance
U.S. state	$	4,680	$	(377	)	$	4,303
Foreign		20		(1	)		19

Total	$	4,700	$	(378	)	$	4,322

The remaining valuation allowance of $4.3 million primarily related to certain U.S. state and foreign deferred tax assets. The U.S. state deferred taxes are primarily related to state net operating losses.

As of April 25, 2015, we had a gross unrecognized tax benefit of $2.2 million related to uncertain tax positions in various jurisdictions. A reconciliation of the beginning and ending balance of these unrecognized tax benefits is as follows:

(Amounts in thousands)	4/25/2015			4/26/2014			4/27/2013
Balance at the beginning of the period	$	2,972		$	3,248		$	3,909
Additions:
Positions taken during the current year		94			88			338
Reductions:
Positions taken during the prior year		(702	)		(99	)		(28	)
Decreases related to settlements with taxing authorities		(25	)		(98	)		—
Reductions resulting from the lapse of the statute of limitations		(113	)		(167	)		(971	)

Balance at the end of the period	$	2,226		$	2,972		$	3,248

We recognize interest and penalties associated with uncertain tax positions in income tax expense. We had approximately $0.3 million accrued for interest and penalties as of both April 25, 2015, and April 26, 2014.

If recognized, $0.4 million of the total $2.2 million of unrecognized tax benefits would decrease our effective tax rate. We do not expect any adjustments within the next 12 months. The remaining balance will be settled or released as tax audits are effectively settled, statutes of limitation expire or other new information becomes available.

Our U.S. federal income tax returns for fiscal years 2012 and subsequent are still subject to audit. Our fiscal year 2012 U.S. federal income tax return is currently under audit. In addition, we conduct business in various states. The major states in which we conduct business are subject to audit for fiscal years 2012 and subsequent. Our businesses in Canada and Thailand are subject to audit for fiscal years 2006 and subsequent, and in Mexico, calendar years 2010 and subsequent.

Cash paid for taxes (net of refunds received) during the fiscal years ended April 25, 2015, April 26, 2014, and April 27, 2013, were $34.4 million, $25.0 million and $20.5 million, respectively.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

Earnings per Share

12 Months Ended

Apr. 25, 2015

Earnings per Share

Earnings per Share

Note 18: Earnings per Share

Certain share-based payment 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:

	Year Ended
(Amounts in thousands)	4/25/2015			4/26/2014			4/27/2013
Numerator (basic and diluted):
Net income attributable to La-Z-Boy Incorporated	$	70,773		$	55,056		$	46,389
Income allocated to participating securities		(395	)		(422	)		(639	)

Net income available to common shareholders	$	70,378		$	54,634		$	45,750

	Year Ended
(Amounts in thousands)	4/25/2015		4/26/2014		4/27/2013
Denominator:
Basic weighted average common shares outstanding		51,767		52,386		52,351
Add:
Contingent common shares		250		1,049		812
Stock option dilution		329		394		522

Diluted weighted average common shares outstanding		52,346		53,829		53,685

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.

We did not exclude any outstanding options from the diluted share calculation for the fiscal years ended April 25, 2015 and April 26, 2014. We had outstanding options to purchase 0.2 million shares for the year ended April 27, 2013 with a weighted average exercise price of $20.74. We excluded the effect of these options from the diluted share calculation since, for the 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.

- Definition

The entire disclosure for earnings per share.

+ References+ Details

Fair Value Measurements

12 Months Ended

Apr. 25, 2015

Fair Value Measurements

Fair Value Measurements

Note 19: Fair Value Measurements

Accounting standards require the categorization of financial assets and liabilities, based on the inputs to the valuation technique, into a three-level fair value hierarchy. The various levels of the fair value hierarchy are described as follows:


•	Level 1—Financial assets and liabilities whose values 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 whose values are based on quoted prices in markets that are not active or model inputs that are observable for substantially the full term of the asset or liability.
•	Level 3—Financial assets and liabilities whose values are based on prices or valuation techniques that require inputs that are both unobservable and significant to the overall fair value measurement.

Accounting standards require the use of observable market data, when available, in making fair value measurements. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. Transfers between levels are recognized at the end of the reporting period in which they occur.

In addition to assets and liabilities that are recorded at fair value on a recurring basis, we are required to record assets and liabilities at fair value on a non-recurring basis. Non-financial assets such as trade names, goodwill, and other long-lived assets are measured at fair value when there is an indicator of impairment and recorded at fair value only when an impairment loss is recognized. During fiscal 2015 and fiscal 2014 we recorded trade names at fair value based upon the relief from royalty method. During the third quarter of fiscal 2014 we recorded the value of the assets of our Bauhaus business unit at fair value. See Note 3 for further discussion.

The following table presents the fair value hierarchy for those assets measured at fair value on a recurring basis as of April 25, 2015, and April 26, 2014:

Fiscal 2015

	Fair Value Measurements
(Amounts in thousands)	Level 1(a)		Level 2(a)		Level 3
Assets
Available-for-sale securities	$	1,552	$	58,516	$	—
Trading securities		—		1,127		—

Total	$	1,552	$	59,643	$	—

(a)

There were no transfers between Level 1 and Level 2 during fiscal 2015.

Fiscal 2014

	Fair Value Measurements
(Amounts in thousands)	Level 1(b)		Level 2(b)		Level 3
Assets
Available-for-sale securities	$	1,521	$	57,630	$	—
Trading securities		—		1,787		—

Total	$	1,521	$	59,417	$	—

(b)

There were no transfers between Level 1 and Level 2 during fiscal 2014.

At April 25, 2015, and April 26, 2014, we held available-for-sale marketable securities intended to enhance returns on our cash and to fund future obligations of our non-qualified defined benefit retirement plan, as well as trading securities to fund future obligations of our executive deferred compensation plan and our performance compensation retirement plan. The fair value measurements for our securities are based upon 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.

- 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

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Apr. 25, 2015

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

LA-Z-BOY INCORPORATED
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS
(Dollars in thousands)

			Additions
Description	Balance at Beginning of Year		Charged to Costs and Expenses			Charged to Other Accounts			Deductions			Balance at End of Year
Allowance for doubtful accounts, deducted from accounts receivable:
April 25, 2015	$	12,368	$	(2,206	)	$	—		$	(5,540	)(a)	$	4,622
April 26, 2014		21,607		(2,926	)		—			(6,313	)(a)		12,368
April 27, 2013		22,254		495			—			(1,142	)(a)		21,607
Allowance for deferred tax assets:
April 25, 2015	$	4,700	$	—		$	39	)(c)	$	(417	)(b)	$	4,322
April 26, 2014		6,619		(135	)		—			(1,784	)(b)		4,700
April 27, 2013		8,258		131			(1,572	)(c)		(198	)(b)		6,619

(a)

Deductions represented uncollectible accounts written off less recoveries of accounts receivable written off in prior years.

(b)

Valuation allowance release.

(c)

Represents impact of adjusting gross deferred tax assets.

Accounting Policies	12 Months Ended
Accounting Policies	Apr. 25, 2015
Accounting Policies
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the consolidated accounts of La-Z-Boy Incorporated and our majority-owned subsidiaries. The portion of less than wholly-owned subsidiaries is included as non-controlling interest. All intercompany transactions have been eliminated, including any related profit on intercompany sales.
Use of Estimates	Use of Estimates The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America. These principles require management to make estimates and assumptions that affect the reported amounts or disclosures of assets, liabilities (including contingent assets and liabilities), sales and expenses at the date of the financial statements. Actual results could differ from those estimates.
Cash and Equivalents	Cash and Equivalents For purposes of the consolidated balance sheet and statement of cash flows, we consider all highly liquid debt instruments purchased with initial maturities of three months or less to be cash equivalents.
Restricted Cash	Restricted Cash We have cash on deposit with a bank as collateral for certain letters of credit.
Inventories	Inventories Inventories are stated at the lower of cost or market. Cost is determined using the last-in, first-out ("LIFO") basis for approximately 66% and 67% of our inventories at April 25, 2015, and April 26, 2014, respectively. Cost is determined for all other inventories on a first-in, first-out ("FIFO") basis. The FIFO method of accounting is mainly used for our Retail segment's inventory as well as our England operating unit and our majority owned foreign subsidiaries.
Property, Plant and Equipment	Property, Plant and Equipment Items capitalized, including significant betterments to existing facilities, are recorded at cost. Capitalized computer software costs include internal and external costs incurred during the software's development stage. Internal costs relate primarily to employee activities related to coding and testing the software under development. Computer software costs are depreciated over three to ten years. All maintenance and repair costs are expensed when incurred. Depreciation is computed principally using straight-line methods over the estimated useful lives of the assets.
Disposal and Impairment of Long-Lived Assets	Disposal and Impairment of Long-Lived Assets Retirement or dispositions of long-lived assets are recorded based on carrying value and proceeds received. Any resulting gains or losses are recorded as a component of selling, general and administrative expenses. We review the carrying value of our long-lived assets for impairment annually or whenever events or changes in circumstances indicate that their carrying amounts may not be recoverable. Our assessment of recoverability is based on our best estimates using either quoted market prices or an analysis of the undiscounted projected future cash flows by asset groups in order to determine if there is any evidence of impairment requiring us to further assess the fair value of our long-lived assets. Our asset groups consist of our operating units in our Upholstery segment (La-Z-Boy and England), our Casegoods segment and each of our retail stores.
Indefinite-Lived Intangible Assets and Goodwill	Indefinite-Lived Intangible Assets and Goodwill We test indefinite-lived intangibles and goodwill for impairment on an annual basis in the fourth quarter of our fiscal year, or more frequently if events or changes in circumstances indicate that the asset might be impaired. Indefinite-lived intangible assets include our American Drew trade name and the reacquired right to own and operate La-Z-Boy Furniture Galleries® stores in markets we have acquired. We establish the fair value of our trade name and reacquired rights based upon the relief from royalty method. Our goodwill relates to the acquisition of La-Z-Boy Furniture Galleries® stores in southern Ohio, northeast Ohio, and northern Indiana. The reporting units for our goodwill are the geographic markets the acquired stores become part of upon acquisition, because the acquired stores benefit these geographic markets. The estimated fair value for the reporting unit is determined based upon discounted cash flows. In situations where the fair value is less than the carrying value, indicating a potential impairment, a second comparison is performed using a calculation of implied fair value of goodwill to measure any such impairment.
Investments	Investments Available-for-sale securities are recorded at fair value with the net unrealized gains and losses (that are deemed to be temporary) reported as a component of other comprehensive income/(loss). Realized gains and losses and charges for other-than-temporary impairments are included in determining net income, with related purchase costs based on the first-in, first-out method. For impairments that are other-than-temporary, an impairment loss is recognized in earnings equal to the difference between the investment's cost and its fair value at the balance sheet date of the reporting period for which the assessment is made. The fair value of the investment then becomes the new amortized cost basis of the investment and it is not adjusted for subsequent recoveries in fair value.
Life Insurance	Life Insurance Life insurance policies are recorded at the amount that could be realized under the insurance contract as of the date of our consolidated balance sheet. These assets are classified as other long-term assets on our consolidated balance sheet. The change in cash surrender or contract value is recorded as income or expense during each period.
Revenue Recognition	Revenue Recognition and Related Allowances for Credit Losses Substantially all of our shipping agreements with third-party carriers transfer the risk of loss to our customers upon shipment. Accordingly, our shipments using third-party carriers are generally recognized as revenue when product is shipped. In all cases, for product shipped on our company-owned trucks, we recognize revenue when the product is delivered. This revenue includes amounts we billed to customers for shipping. At the time we recognize revenue, we make provisions for estimated product returns and warranties, as well as other incentives that we may offer to customers. We also recognize revenue for amounts we receive from our customers in connection with our shared advertising cost arrangement. We import certain products from foreign ports, some of which are shipped directly to our domestic customers. In this case, revenue is not recognized until title is assumed by our customer, which is normally after the goods pass through U.S. Customs. Incentives offered to customers include cash discounts and other sales incentive programs. Estimated cash discounts and other sales incentives are recorded as a reduction of revenues when the revenue is recognized.
Related Allowances for Credit Losses	Revenue Recognition and Related Allowances for Credit Losses Trade accounts receivable arise from the sale of products on trade credit terms. On a quarterly basis, our management team reviews all significant accounts as to their past due balances, as well as collectability of the outstanding trade accounts receivable for possible write off. It is our policy to write off the accounts receivable against the allowance account when we deem the receivable to be uncollectible. Additionally, we review orders from dealers that are significantly past due, and we ship product only when our ability to collect payment for the new sales is reasonably assured. Our allowances for credit losses reflect our best estimate of probable losses inherent in the trade accounts receivable balance. We determine the allowance based on known troubled accounts, historic experience and other currently available evidence. At April 25, 2015, and April 26, 2014, we had gross notes receivable of $1.9 million and $4.3 million, respectively. We had no remaining allowance for credit losses at April 25, 2015, as compared to $0.2 million at April 26, 2014.
Cost of Sales	Cost of Sales Our cost of sales consists primarily of the cost to manufacture or purchase our merchandise, inspection costs, internal transfer costs, in-bound freight costs, outbound shipping costs, as well as warehousing costs, occupancy costs and depreciation expense related to our manufacturing facilities and equipment. During the third quarter of fiscal 2015 we received a cash payment related to a legal settlement that was recorded as part of cost of sales for the fiscal year ended April 25, 2015. Gross margin improved 0.4 percentage point for fiscal 2015 due to the legal settlement.
Selling, General and Administrative Expenses	Selling, General and Administrative Expenses SG&A expenses include the costs of selling our products and other general and administrative costs. Selling expenses are primarily composed of commissions, advertising, warranty, bad debt expense and compensation and benefits of employees performing various sales functions. Additionally, the occupancy costs of our retail facilities and the warehousing costs of our regional distribution centers are included as a component of SG&A. Other general and administrative expenses included in SG&A are composed primarily of compensation and benefit costs for administration employees and other administrative costs.
Other Income, Net	Other Income, Net Other income, net, primarily includes foreign currency exchange net gain/loss and pension costs.
Research and Development Costs	Research and Development Costs Research and development costs are charged to expense in the periods incurred. Expenditures for research and development costs from continuing operations were $8.0 million, $7.9 million and $7.2 million for the fiscal years ended April 25, 2015, April 26, 2014, and April 27, 2013, respectively, and are included as a component of SG&A.
Advertising Expenses	Advertising Expenses Production costs of commercials, programming and costs of other advertising, promotion and marketing programs are charged to expense in the period in which the commercial or ad is first aired or released. Gross advertising expenses were $63.3 million, $59.6 million and $53.9 million for the fiscal years ended April 25, 2015, April 26, 2014, and April 27, 2013, respectively. A portion of our advertising program is a national advertising campaign. This campaign is a shared advertising program with our La-Z-Boy Furniture Galleries® stores, which are reimbursing us for about 34.0% of the cost of the program (excluding company-owned stores). Because of this shared cost arrangement, the advertising expense is reported as a component of SG&A, while the dealers' reimbursement portion is reported as a component of sales.
Operating Leases	Operating Leases We record rent expense related to operating leases on a straight-line basis for minimum lease payments starting with the beginning of the lease term based on the date that we have the right to control the leased property. Our minimum lease payments may incorporate step rent provisions or rent escalations. We also record rental income from subleases on a straight-line basis for minimum lease payments.
Income Taxes	Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry-forwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. In periods when deferred tax assets are recorded, we are required to estimate whether recoverability is more likely than not, based on, among other things, forecasts of taxable earnings in the related tax jurisdiction. We consider historical and projected future operating results, the eligible carry-forward period, tax law changes, tax planning opportunities and other relevant considerations when making judgments about realizing the value of our deferred tax assets. We recognize in our consolidated financial statements the benefit of a position taken or expected to be taken in a tax return when it is more likely than not (i.e. a likelihood of more than 50%) that the position would be sustained upon examination by tax authorities. A recognized tax position is then measured at the largest amount of benefit that is more likely than not to be realized upon settlement. Changes in judgment that result in subsequent recognition, derecognition or change in a measurement date of a tax position taken in a prior annual period (including any related interest and penalties) are recognized as a discrete item in the interim period in which the change occurs.
Foreign Currency Translation	Foreign Currency Translation The functional currency of our Mexico subsidiary is the U.S. dollar. Transaction gains and losses associated with translating our Mexico subsidiary's assets and liabilities, which are non-U.S. dollar denominated, are recorded in other income/(expense) in our consolidated statement of income. The functional currency of each of our other foreign subsidiaries is its respective local currency. Assets and liabilities of those subsidiaries whose functional currency is their local currency are translated at the year-end exchange rates, and revenues and expenses are translated at average exchange rates for the period, with the corresponding translation effect included as a component of other comprehensive income. In connection with our Mexico subsidiary we have entered into foreign currency forward contracts, designated as cash flow hedges, to hedge certain forecasted expenses.
Accounting for Stock-Based Compensation	Accounting for Stock-Based Compensation We estimate the fair value of equity-based awards on the date of grant using option-pricing models. The value of the portion of the equity-based awards that are ultimately expected to vest is recognized as expense over the requisite service periods in our consolidated statement of income using a straight-line single-option method. We measure stock-based compensation cost for liability-based awards based on the fair value of the award on the last day of the reporting period and recognize it as expense over the vesting period. The liability for these awards is remeasured and adjusted to its fair value at the end of each reporting period until paid. We record compensation cost for stock-based awards that vest based on performance conditions ratably over the vesting periods when the vesting of such awards become probable.
Discontinued Operations	Discontinued Operations During fiscal 2014, we sold substantially all of the assets of our Bauhaus U.S.A. business unit and classified Lea Industries as held for sale. The assets and liabilities of Lea Industries were reported in business held for sale in our fiscal 2014 consolidated balance sheet. We were unable to find a buyer for our Lea Industries business, and therefore we liquidated all the assets, consisting mostly of inventory, and ceased operations of Lea Industries during the third quarter of fiscal 2015. The operating results of both Bauhaus and Lea Industries are reported as discontinued operations in our consolidated statement of income for all periods presented.
Insurance/Self-Insurance	Insurance/Self-Insurance We use a combination of insurance and self-insurance for a number of risks, including workers' compensation, general liability, vehicle liability and the company-funded portion of employee-related health care benefits. Liabilities associated with these risks are estimated in part by considering historic claims experience, demographic factors, severity factors and other assumptions. Our workers' compensation reserve is an undiscounted liability. We have various excess loss coverages for auto, product liability and workers' compensation liabilities. Our deductibles generally do not exceed $1.5 million.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In April 2014, the Financial Accounting Standards Board ("FASB") issued accounting guidance related to disclosures about discontinued operations. The guidance amends the definition of discontinued operations to limit the disposals that may be reported as discontinued operations. The disposal must be a result of a change in an entity's strategy and have a material effect on the entity's operations and financial results to be reported as discontinued operations under the new guidance. The amendments also expand the required disclosures for discontinued operations to include additional information about the assets, liabilities, revenues, expenses, and cash flows of the discontinued operation. If the disposal does not qualify as discontinued operations under the amended guidance, the entity must disclose the pretax profit or loss of the disposal. This guidance is effective for our fiscal year 2016. In connection with the discontinued operations discussed in Note 3, we have elected not to early adopt the provisions of this recently issued accounting standard. We do not believe the adoption of this guidance will have a material impact on our consolidated financial statements. In May 2014, the 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 the use of more estimates and judgments than the present standards as well as additional disclosures. The new accounting standard as proposed, would be effective for our fiscal year 2018, and we are assessing the potential impact to our consolidated financial statements and financial statement disclosures. In April 2015, the FASB issued accounting guidance that permits an entity with a fiscal year-end that does not coincide with an actual month-end date to measure defined benefit plan assets and obligations using the month-end date that is closest to the entity's fiscal year-end. Election of this accounting policy would need to be disclosed including the date used to measure these assets and obligations. The new accounting standard is effective for our fiscal year 2017, and we do not believe the adoption of this guidance will have a material impact on our consolidated financial statements.

Restructuring (Tables)

12 Months Ended

Apr. 25, 2015

Restructuring

Details of total pre-tax restructuring (income)/expense

The table below details the total pre-tax restructuring (income)/expense recorded by type for the fiscal years ended April 25, 2015, and April 26, 2014:

(Amounts in thousands)	4/25/2015			4/26/2014
Fixed asset (recoveries) write-downs	$	(987	)	$	2,272
Inventory (recoveries) write-downs		(578	)		2,216
Other		1,194			351

Total restructuring—continuing operations		(371	)		4,839
Inventory write-downs		—			1,804
Trade name write-down		—			1,265
Other		11			163

Total restructuring—discontinued operations		11			3,232

Total restructuring (income) expense	$	(360	)	$	8,071

Discontinued Operations (Tables)

12 Months Ended

Apr. 25, 2015

Discontinued Operations

Financial disclosures of discontinued operations

The results of our discontinued operations for the fiscal years ended April 25, 2015, April 26, 2014, and April 27, 2013, were as follows:

	Year Ended
(Amounts in thousands)	4/25/2015			4/26/2014			4/27/2013
Net sales	$	7,850		$	50,587		$	58,648
Operating income (loss) from discontinued operations	$	869		$	(6,032	)	$	25
Interest expense		8			—			—
Income from Continued Dumping and Subsidy Offset Act, net		4,211			—			—
Income tax benefit (expense)		(1,775	)		2,236			(8	)

Income (loss) from discontinued operations, net of tax	$	3,297		$	(3,796	)	$	17

Operating income from discontinued operations in fiscal 2014 included a $3.3 million restructuring charge.

The assets and liabilities of Lea Industries that were classified as held for sale at April 26, 2014, are detailed below. These assets were liquidated during fiscal 2015.

(Amounts in thousands)	4/26/14
Assets
Receivables, net	$	1,190
Inventories, net		3,013
Other current assets		87

Total assets	$	4,290


Liabilities
Accounts payable	$	234
Accrued expenses and other current liabilities		576
Other long-term liabilities		22

Total liabilities	$	832

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References+ Details

Inventories (Tables)

12 Months Ended

Apr. 25, 2015

Inventories

Summary of inventories

Inventories

(Amounts in thousands)	4/25/2015			4/26/2014
Raw materials	$	75,024		$	71,247
Work in process		14,310			13,722
Finished goods		92,295			91,842

FIFO inventories		181,629			176,811
Excess of FIFO over LIFO		(24,840	)		(29,802	)

Total inventories	$	156,789		$	147,009

Property, Plant and Equipment (Tables)

12 Months Ended

Apr. 25, 2015

Property, Plant and Equipment

Schedule of property, plant and equipment

Property, Plant and Equipment

(Amounts in thousands)	Estimated Useful Lives		4/25/2015			4/26/2014
Buildings and building fixtures		3 - 40 years	$	202,482		$	161,490
Machinery and equipment		3 - 15 years		142,949			140,561
Information systems and software		3 - 10 years		72,200			64,208
Land		—		15,409			15,344
Land improvements		3 - 30 years		14,747			10,820
Transportation equipment		3 - 10 years		17,051			17,420
Furniture and fixtures		3 - 15 years		20,996			14,104
Construction in progress				14,195			31,233

				500,029			455,180
Accumulated depreciation				(325,993	)		(327,645	)

Net property, plant and equipment			$	174,036		$	127,535

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Apr. 25, 2015

Goodwill and Other Intangible Assets

Roll-forward of goodwill

The following is a roll-forward of goodwill for the fiscal years ended April 25, 2015, and April 26, 2014:

(Amounts in thousands)	Goodwill
Balance at April 27, 2013	$	12,837
Acquisitions		1,086

Balance at April 26, 2014		13,923
Acquisitions		1,241

Balance at April 25, 2015	$	15,164

Roll-forward of other indefinite-lived intangible assets

The following is a roll-forward of other indefinite-lived intangible assets for the fiscal years ended April 25, 2015, and April 26, 2014:

(Amounts in thousands)	Trade names			Reacquired Rights		Total Other Intangible Assets
Balance at April 27, 2013	$	2,693		$	2,145	$	4,838
Acquisitions		—			1,093		1,093
Restructuring		(1,265	)		—		(1,265	)
Impairment charges		(122	)		—		(122	)

Balance at April 26, 2014		1,306			3,238		4,544
Acquisitions		—			1,025		1,025
Impairment charges		(111	)		—		(111	)

Balance at April 25, 2015	$	1,195		$	4,263	$	5,458

Investments (Tables)

12 Months Ended

Apr. 25, 2015

Investments

Summary of investments

The following is a summary of investments at April 25, 2015, and April 26, 2014:

Fiscal 2015

(Amounts in thousands)	Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities	$	2,014	$	(78	)	$	9,251
Fixed income		224		(14	)		50,358
Mutual funds		—		—			1,127
Other		1		(22	)		459

Total securities	$	2,239	$	(114	)	$	61,195

Fiscal 2014

(Amounts in thousands)	Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities	$	1,246	$	(52	)	$	8,216
Fixed income		166		(44	)		50,510
Mutual funds		—		—			1,787
Other		1		(10	)		425

Total securities	$	1,413	$	(106	)	$	60,938

Summary of sales of available-for-sale securities

The following table summarizes sales of available-for-sale securities (for the fiscal years ended):

(Amounts in thousands)	4/25/2015			4/26/2014			4/27/2013
Proceeds from sales	$	33,750		$	34,557		$	18,662
Gross realized gains		285			857			4,486
Gross realized losses		(74	)		(559	)		(1,316	)

- Definition

Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

+ References+ Details

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Apr. 25, 2015

Accrued Expenses and Other Current Liabilities

Schedule of accrued expenses and other current liabilities

Accrued Expenses and Other Current Liabilities

(Amounts in thousands)	4/25/2015		4/26/2014
Payroll and other compensation	$	40,711	$	42,667
Accrued product warranty, current portion		10,182		9,815
Customer deposits		23,722		20,903
Other current liabilities		33,711		29,491

Accrued expenses and other current liabilities	$	108,326	$	102,876

Debt (Tables)

12 Months Ended

Apr. 25, 2015

Debt

Schedule of debt

Debt

(Amounts in thousands)	4/25/2015			4/26/2014
Industrial revenue bonds	$	—		$	7,100
Capital leases		830			674

Total debt		830			7,774
Less: current portion		(397	)		(7,497	)

Long-term debt	$	433		$	277

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

Operating Leases (Tables)

12 Months Ended

Apr. 25, 2015

Operating Leases

Future minimum rentals for all non-cancelable operating leases and future rental income from subleases

The future minimum rentals for all non-cancelable operating leases and future rental income from subleases are as follows (for the fiscal years):

(Amounts in thousands)	Future Minimum Rentals		Future Minimum Income
2016	$	55,576	$	4,394
2017		54,587		4,160
2018		51,775		4,101
2019		46,212		4,104
2020		40,015		4,132
2021 and beyond		115,902		8,756

Total	$	364,067	$	29,647

Rental expense and rental income for operating leases

Rental expense and rental income from continuing operations for operating leases were as follows (for the fiscal years ended):

(Amounts in thousands)	4/25/2015		4/26/2014		4/27/2013
Rental expense	$	55,808	$	51,132	$	47,872
Rental income		4,966		5,138		5,095

Retirements and Welfare (Tables)

12 Months Ended

Apr. 25, 2015

Retirement and Welfare

Schedule of amounts recognized in accumulated other comprehensive loss

The changes in plan assets and benefit obligations were recognized in accumulated other comprehensive loss as follows (pre-tax) (for the fiscal years ended):

(Amounts in thousands)	4/25/2015			4/26/2014
Beginning of year net actuarial loss	$	39,425		$	48,745
Net current year actuarial (gain) loss		836			(5,932	)
Amortization of actuarial loss		(2,659	)		(3,388	)

End of year net actuarial loss	$	37,602		$	39,425

Schedule of net periodic pension cost and retirement costs

The combined net periodic pension cost and retirement costs for retirement plans related to continuing operations were as follows (for the fiscal years ended):

(Amounts in thousands)	4/25/2015			4/26/2014			4/27/2013
Service cost	$	1,114		$	1,241		$	1,231
Interest cost		5,070			4,822			5,325
Expected return on plan assets		(5,077	)		(6,800	)		(6,855	)
Net amortization and deferral		2,658			3,388			3,024

Net periodic pension cost (hourly plan)		3,765			2,651			2,725
401(k)*		6,270			5,802			5,198
PCRP*		1,377			2,513			—
Other*		124			223			191

Total retirement costs (excluding non-qualified defined benefit retirement plan)	$	11,536		$	11,189		$	8,114

*Not determined by an actuary

Schedule of funded status of the defined benefit pension plan

The funded status of the defined benefit pension plan for eligible factory hourly employees was as follows:

(Amounts in thousands)	4/25/2015			4/26/2014
Change in benefit obligation
Benefit obligation at beginning of year	$	116,870		$	123,495
Service cost		1,114			1,241
Interest cost		5,070			4,822
Actuarial (gain) loss		3,664			(3,565	)
Benefits paid		(5,638	)		(9,123	)

Benefit obligation at end of year		121,080			116,870
Change in plan assets
Fair value of plan assets at beginning of year		111,474			111,430
Actual return on plan assets		7,906			9,494
Other expenses		—			(327	)
Benefits paid		(5,638	)		(9,123	)

Fair value of plan assets at end of year		113,742			111,474

Funded status	$	(7,338	)	$	(5,396	)

Schedule of amounts included in the consolidated balance sheet related to the defined benefit pension plan

Amounts included in the consolidated balance sheet related to the defined benefit pension plan for eligible factory hourly employees consist of:

(Amounts in thousands)		4/25/2015			4/26/2014
Other long-term liabilities		$	(7,338	)	$	(5,396	)

Schedule of actuarial assumptions for the defined benefit pension plan

The actuarial assumptions for the defined benefit pension plan for eligible factory hourly employees were as follows (for the fiscal years ended):

	4/25/2015			4/26/2014			4/27/2013
Discount rate used to determine benefit obligations		4.2	%		4.4	%		4.0	%
Discount rate used to determine net benefit cost		4.4	%		4.0	%		4.6	%
Long-term rate of return		4.7	%		4.7	%		6.3	%

Schedule of fair value of the assets in the defined benefit pension plan

Fiscal 2015

(Amounts in thousands)	Level 1(a)		Level 2(a)		Level 3
Cash and equivalents	$	149	$	3,685	$	—
Equity funds		23,120		7,702		—
Debt funds		—		79,086		—

Total	$	23,269	$	90,473	$	—

(a)

There were no transfers between Level 1 and Level 2 during fiscal 2015.

Fiscal 2014

(Amounts in thousands)	Level 1(b)		Level 2(b)		Level 3
Cash and equivalents	$	207	$	6,083	$	—
Equity funds		22,623		7,736		—
Debt funds		—		74,825		—

Total	$	22,830	$	88,644	$	—

(b)

There were no transfers between Level 1 and Level 2 during fiscal 2014.

Schedule of expected benefit payments for each of the next five fiscal years and for periods thereafter

(Amounts in thousands)	Benefit Payments
2016	$	6,195
2017		6,340
2018		6,504
2019		6,675
2020		6,856
2021 to 2025		36,373

	$	68,943

Product Warranties (Tables)

12 Months Ended

Apr. 25, 2015

Product Warranties

Reconciliation of changes in product warranty liability

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

(Amounts in thousands)	4/25/2015			4/26/2014
Balance as of the beginning of the year	$	16,013		$	15,525
Accruals during the year		19,017			16,373
Accrual adjustments		(953	)		(945	)
Reclass to discontinued operations		—			(367	)
Settlements during the year		(17,207	)		(14,573	)

Balance as of the end of the year	$	16,870		$	16,013

Stock-Based Compensation (Tables)

12 Months Ended

Apr. 25, 2015

Stock-Based Compensation

Stock-based compensation expense recognized in consolidated statement of income

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

(Amounts in thousands)	4/25/2015		4/26/2014		4/27/2013
Equity-based awards expense	$	6,780	$	8,739	$	11,458
Liability-based awards expense		4,597		5,736		2,170

Total stock-based compensation expense	$	11,377	$	14,475	$	13,628

Schedule of grants made during the period

The table below summarizes the grants made during fiscal 2015:

(Shares/units in thousands)	Shares/units granted	Liability/ Equity award	Settlement
Stock options	374	Equity	Common shares
Restricted stock	116	Equity	Common shares
Restricted stock units—directors	33	Equity	Common shares
Performance-based shares	192	Equity	Common shares

Schedule of plan activity for stock options

Plan activity for stock options under the above plans is as follows:

	Number of Shares (In Thousands)			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)		Aggregate Intrinsic Value (In Thousands)
Outstanding at April 26, 2014		798		$	11.79		7.5	$	10,185
Granted		374			23.63
Exercised		(130	)		10.71			$	2,011

Outstanding at April 25, 2015		1,042		$	16.15		7.6	$	11,773


Exercisable at April 25, 2015		382		$	10.78		6.4	$	6,387

Fair value assumptions for stock options

	4/25/2015			4/26/2014			4/27/2013
Risk-free interest rate		1.59	%		0.84	%		0.75	%
Dividend rate		1.00	%		0.84	%		0	%
Expected life in years		5.0			5.0			5.0
Stock price volatility		54.4	%		81.3	%		83.8	%
Fair value per share	$	10.45		$	11.63		$	7.87

Fair value assumptions for SARs

	Fiscal 2014 grant			Fiscal 2013 grant
Risk-free interest rate		1.02	%		0.64	%
Dividend rate		1.16	%		1.16	%
Expected life in years		3.2			2.2
Stock price volatility		34.0	%		30.0	%
Fair value per share	$	10.24		$	15.09

Schedule of nonvested restricted stock award activity

The following table summarizes information about non-vested share awards as of and for the year ended April 25, 2015:

	Number of Shares (In Thousands)			Weighted Average Grant Date Fair Value
Non-vested shares at April 26, 2014		102		$	7.77
Granted		116			23.68
Vested		(66	)		6.92
Canceled		(10	)		17.68

Non-vested shares at April 25, 2015		142		$	20.50

Schedule of nonvested restricted stock unit activity

The following table summarizes information about non-vested stock units as of and for the year ended April 25, 2015:

	Number of Units (In Thousands)			Weighted Average Grant Date Fair Value
Non-vested units at April 26, 2014		221		$	15.90
Vested		(63	)		15.35
Canceled		(12	)		16.14

Non-vested units at April 25, 2015		146		$	16.12

Schedule of number of performance-based shares and units granted

Performance-based awards granted (Shares/units in thousands)	Number of Units		Number of Shares
Fiscal 2013 grant		146		133
Fiscal 2014 grant		35		191
Fiscal 2015 grant		—		192

Schedule of number of awards earned based on performance conditions

Performance-based awards earned (Shares/units in thousands)	Number of Shares/Units
Fiscal 2013 performance-based shares		171
Fiscal 2013 performance-based units		154
Fiscal 2014 performance-based shares		84
Fiscal 2014 performance-based units		14
Fiscal 2015 performance-based shares		49

Schedule of equity-based compensation expenses related to performance-based shares

Equity-based compensation expenses related to performance-based shares recognized in our consolidated statement of income were as follows (for the fiscal years ended):

(Amounts in thousands)	4/25/2015		4/26/2014		4/27/2013
Fiscal 2011 grant	$	—	$	—	$	1,707
Fiscal 2012 grant		—		3,603		5,442
Fiscal 2013 grant		568		849		440
Fiscal 2014 grant		769		1,006		—
Fiscal 2015 grant		908		—		—

Accumulated Other Comprehensive Loss (Tables)

12 Months Ended

Apr. 25, 2015

Accumulated Other Comprehensive Loss

Activity in accumulated other comprehensive loss

The activity in accumulated other comprehensive loss for the fiscal years ended April 25, 2015, and April 26, 2014, were as follows:

(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 27, 2013	$	4,779		$	231		$	474		$	(40,980	)	$	(35,496	)
Changes before reclassifications		(2,324	)		(780	)		1,308			6,286			4,490
Amounts reclassified to net income		—			321			(300	)		3,566			3,587
Tax effect		—			175			(384	)		(3,752	)		(3,961	)

Other comprehensive income (loss) attributable to La-Z-Boy Incorporated		(2,324	)		(284	)		624			6,100			4,116

Balance at April 26, 2014		2,455			(53	)		1,098			(34,880	)		(31,380	)
Changes before reclassifications		(938	)		(1,857	)		1,033			(2,517	)		(4,279	)
Amounts reclassified to net income		—			1,038			(214	)		2,806			3,630
Tax effect		—			312			(312	)		(110	)		(110	)

Other comprehensive income (loss) attributable to La-Z-Boy Incorporated		(938	)		(507	)		507			179			(759	)

Balance at April 25, 2015	$	1,517		$	(560	)	$	1,605		$	(34,701	)	$	(32,139	)

Components of non-controlling interest

The components of non-controlling interest at April 25, 2015, and April 26, 2014, were as follows:

(Amounts in thousands)	4/25/2015			4/26/2014
Balance as of the beginning of the year	$	7,832		$	7,140
Net income		1,198			1,324
Other comprehensive income		(76	)		(730	)
Change in non-controlling interest		—			98

Balance as of the end of the year	$	8,954		$	7,832

Segment Information (Tables)

12 Months Ended

Apr. 25, 2015

Segment Information

Segment information

(Amounts in thousands)	4/25/2015			4/26/2014			4/27/2013
Sales
Upholstery segment:
Sales to external customers	$	990,237		$	959,118		$	902,454
Intersegment sales		161,565			139,932			127,311

Upholstery segment sales		1,151,802			1,099,050			1,029,765

Casegoods segment:
Sales to external customers		98,886			97,095			104,387
Intersegment sales		10,827			9,657			8,140

Casegoods segment sales		109,713			106,752			112,527

Retail segment sales		333,978			298,642			264,723
Corporate and Other		2,294			2,463			2,313
Eliminations		(172,392	)		(149,589	)		(135,451	)

Consolidated sales	$	1,425,395		$	1,357,318		$	1,273,877


Operating Income (Loss)
Upholstery segment	$	121,403		$	117,688		$	95,571
Casegoods segment		6,408			3,397			3,703
Retail segment		11,466			11,128			4,099
Restructuring		371			(4,839	)		(2,631	)
Corporate and Other		(36,483	)		(38,078	)		(33,139	)

Consolidated operating income		103,165			89,296			67,603
Interest expense		523			548			746
Interest income		1,030			761			620
Income from Continued Dumping and Subsidy Offset Act, net		1,212			—			—
Other income, net		744			2,050			3,208

Income from continuing operations before income taxes	$	105,628		$	91,559		$	70,685


Depreciation and Amortization
Upholstery segment	$	12,669		$	13,778		$	14,275
Casegoods segment		813			1,171			1,338
Retail segment		2,910			2,520			2,676
Corporate and Other		5,891			5,566			4,674

Consolidated depreciation and amortization	$	22,283		$	23,035		$	22,963


Capital Expenditures
Upholstery segment	$	14,979		$	6,579		$	9,857
Casegoods segment		1,149			149			1,058
Retail segment		2,993			4,379			4,251
Corporate and Other		51,198			22,623			10,218

Consolidated capital expenditures	$	70,319		$	33,730		$	25,384


Assets
Upholstery segment	$	317,102		$	305,814		$	296,108
Casegoods segment		48,403			53,299			70,147
Retail segment		126,189			119,816			73,496
Unallocated assets		282,910			292,366			280,620

Consolidated assets	$	774,604		$	771,295		$	720,371

Long-lived assets by geographic location and sales by country

Long-Lived Assets by Geographic Location
Domestic	$	187,224		$	147,538		$	133,208
International		8,359			6,805			8,168

Consolidated long-lived assets	$	195,583		$	154,343		$	141,376


Sales by Country
United States		87	%		86	%		86	%
Canada		7	%		8	%		9	%
Other		6	%		6	%		5	%

Total		100	%		100	%		100	%

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details

Income Tax (Tables)

12 Months Ended

Apr. 25, 2015

Income Taxes

Schedule of income before income taxes for continuing operations

Income before income taxes for continuing operations consists of the following (for the fiscal years ended):

(Amounts in thousands)	4/25/2015		4/26/2014		4/27/2013
United States	$	96,605	$	82,705	$	63,193
Foreign		9,023		8,854		7,492

Total	$	105,628	$	91,559	$	70,685

Components of income tax expense (benefit)

Income tax expense (benefit) applicable to continuing operations consists of the following components (for the fiscal years ended):

(Amounts in thousands)	4/25/2015		4/26/2014			4/27/2013
Federal:
—current	$	28,887	$	24,695		$	17,049
—deferred		406		1,495			1,341
State:
—current		4,573		5,345			2,746
—deferred		637		(2,082	)		464
Foreign:
—current		2,281		1,375			739
—deferred		170		555			1,181

Total income tax expense (benefit)	$	36,954	$	31,383		$	23,520

Reconciliation of effective tax rate

Our effective tax rate differs from the U.S. federal income tax rate for the following reasons:

(% of pre-tax income)	4/25/2015			4/26/2014			4/27/2013
Statutory tax rate		35.0	%		35.0	%		35.0	%
Increase (reduction) in income taxes resulting from:
State income taxes, net of federal benefit		3.5			3.1			3.0
U.S. manufacturing benefit		(2.1	)		(1.0	)		(2.0	)
Change in valuation allowance		(0.4	)		(1.2	)		(0.3	)
Gain on sale of marketable securities		—			—			(1.6	)
Miscellaneous items		(1.0	)		(1.6	)		(0.8	)

Effective tax rate		35.0	%		34.3	%		33.3	%

Components of deferred tax assets and (liabilities)

The primary components of our deferred tax assets and (liabilities) were as follows:

(Amounts in thousands)	4/25/2015			4/26/2014
Assets
Deferred and other compensation	$	22,085		$	19,774
Allowance for doubtful accounts		2,255			5,456
State income tax—net operating losses, credits and other		6,032			6,440
Pension		2,828			2,097
Warranty		6,466			6,247
Rent		5,174			4,824
Workers' compensation		4,173			4,068
Employee benefits		3,096			2,838
Other		1,262			3,760
Valuation allowance		(4,322	)		(4,700	)

Total deferred tax assets		49,049			50,804
Liabilities
Property, plant and equipment		(2,722	)		(3,337	)

Net deferred tax assets	$	46,327		$	47,467

Summary of deferred tax assets associated with loss carryforwards

The deferred tax assets associated with loss carry forwards and the related expiration dates are as follows:

(Amounts in thousands)	Amount		Expiration
Various U.S. state net operating losses (excluding federal tax effect)	$	8,678		Fiscal 2016 - 2034
Foreign capital losses		20		Indefinite

Summary of valuation allowance by jurisdiction

Jurisdiction	4/26/2014 Valuation Allowance					4/25/2015 Valuation Allowance
(Amounts in thousands)	4/26/2014 Valuation Allowance		Change			4/25/2015 Valuation Allowance
U.S. state	$	4,680	$	(377	)	$	4,303
Foreign		20		(1	)		19

Total	$	4,700	$	(378	)	$	4,322

Reconciliation of the beginning and ending balance of unrecognized tax benefits

(Amounts in thousands)	4/25/2015			4/26/2014			4/27/2013
Balance at the beginning of the period	$	2,972		$	3,248		$	3,909
Additions:
Positions taken during the current year		94			88			338
Reductions:
Positions taken during the prior year		(702	)		(99	)		(28	)
Decreases related to settlements with taxing authorities		(25	)		(98	)		—
Reductions resulting from the lapse of the statute of limitations		(113	)		(167	)		(971	)

Balance at the end of the period	$	2,226		$	2,972		$	3,248

Earnings per Share (Tables)

12 Months Ended

Apr. 25, 2015

Earnings per Share

Reconciliation of numerators and denominators used in the computation of basic and diluted 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:

	Year Ended
(Amounts in thousands)	4/25/2015			4/26/2014			4/27/2013
Numerator (basic and diluted):
Net income attributable to La-Z-Boy Incorporated	$	70,773		$	55,056		$	46,389
Income allocated to participating securities		(395	)		(422	)		(639	)

Net income available to common shareholders	$	70,378		$	54,634		$	45,750

	Year Ended
(Amounts in thousands)	4/25/2015		4/26/2014		4/27/2013
Denominator:
Basic weighted average common shares outstanding		51,767		52,386		52,351
Add:
Contingent common shares		250		1,049		812
Stock option dilution		329		394		522

Diluted weighted average common shares outstanding		52,346		53,829		53,685

Fair Value Measurements (Tables)

12 Months Ended

Apr. 25, 2015

Fair Value Measurements

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

The following table presents the fair value hierarchy for those assets measured at fair value on a recurring basis as of April 25, 2015, and April 26, 2014:

Fiscal 2015

	Fair Value Measurements
(Amounts in thousands)	Level 1(a)		Level 2(a)		Level 3
Assets
Available-for-sale securities	$	1,552	$	58,516	$	—
Trading securities		—		1,127		—

Total	$	1,552	$	59,643	$	—

(a)

There were no transfers between Level 1 and Level 2 during fiscal 2015.

Fiscal 2014

	Fair Value Measurements
(Amounts in thousands)	Level 1(b)		Level 2(b)		Level 3
Assets
Available-for-sale securities	$	1,521	$	57,630	$	—
Trading securities		—		1,787		—

Total	$	1,521	$	59,417	$	—

(b)

There were no transfers between Level 1 and Level 2 during fiscal 2014.

Accounting Policies (Details)	12 Months Ended
Accounting Policies (Details)	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Accounting Policies
Length of fiscal year	364 days	364 days	364 days
Inventories
Inventory cost determined using LIFO basis (as a percent)	66.00%	67.00%
Computer software costs \| Minimum
Property, Plant and Equipment
Estimated useful life	3 years
Computer software costs \| Maximum
Property, Plant and Equipment
Estimated useful life	10 years

Accounting Policies (Details 2) (USD $) In Millions, unless otherwise specified	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Valuation and Qualifying Accounts Disclosure [Line Items]
Notes receivable, gross	$ 1.9	$ 4.3
Cost of Sales
Improvement in gross margin due to legal settlement (as a percent)	0.40%
Research and Development Costs
Expenditures for research and development costs from continuing operations	8.0	7.9	7.2
Advertising Expenses
Gross advertising expenses	63.3	59.6	53.9
Percentage reimbursement on shared advertising program	34.00%
Insurance/Self-Insurance
Maximum deductibles for excess loss coverages	1.5
Allowance for notes receivable
Valuation and Qualifying Accounts Disclosure [Line Items]
Allowance for credit losses	$ 0	$ 0.2

Restructuring (Details) (USD $)	12 Months Ended
Restructuring (Details) (USD $)	Apr. 25, 2015 facility	Apr. 26, 2014	Apr. 27, 2013
Restructuring
Number of facilities sold	2
Restructuring charges
Pre-tax restructuring charges since inception of plan	$ 7,700,000
Restructuring charges since inception of plan, net of tax	5,000,000
Total restructuring (income) expense	(360,000)	8,071,000	2,715,000
Restructuring liability	600,000
Continuing Operations
Restructuring charges
Pre-tax restructuring charges since inception of plan	4,500,000
Restructuring charges since inception of plan, net of tax	2,900,000
Total restructuring (income) expense	(371,000)	4,839,000	2,600,000
Continuing Operations \| Fixed asset (recoveries) write-downs
Restructuring charges
Total restructuring (income) expense	(987,000)	2,272,000
Continuing Operations \| Inventory (recoveries) write-downs
Restructuring charges
Total restructuring (income) expense	(578,000)	2,216,000
Continuing Operations \| Other
Restructuring charges
Total restructuring (income) expense	1,194,000	351,000
Discontinued Operations
Restructuring charges
Pre-tax restructuring charges since inception of plan	3,200,000
Restructuring charges since inception of plan, net of tax	2,100,000
Total restructuring (income) expense	11,000	3,232,000
Discontinued Operations \| Inventory (recoveries) write-downs
Restructuring charges
Total restructuring (income) expense		1,804,000
Discontinued Operations \| Trade name write-down
Restructuring charges
Total restructuring (income) expense		1,265,000
Discontinued Operations \| Other
Restructuring charges
Total restructuring (income) expense	$ 11,000	$ 163,000

Discontinued Operations (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Discontinued Operations
Impairment to the value of assets to be sold		$ 1,149
Results of discontinued operations
Net sales	7,850	50,587	58,648
Operating income (loss) from discontinued operations	869	(6,032)	25
Interest expense	8
Income from Continued Dumping and Subsidy Offset Act, net	4,211
Income tax benefit (expense)	(1,775)	2,236	(8)
Income (loss) from discontinued operations, net of tax	3,297	(3,796)	17
Restructuring	(360)	8,071	2,715
Assets
Total assets		4,290
Liabilities
Total liabilities		832
Discontinued Operations
Results of discontinued operations
Restructuring	11	3,232
Bauhaus operating unit
Discontinued Operations
Impairment to the value of assets to be sold		1,100
American Furniture Company
Results of discontinued operations
Income from Continued Dumping and Subsidy Offset Act, net	3,800
Lea Industries
Assets
Receivables, net		1,190
Inventories, net		3,013
Other current assets		87
Total assets		4,290
Liabilities
Accounts payable		234
Accrued expenses and other current liabilities		576
Other long-term liabilities		22
Total liabilities		$ 832

Inventories (Details) (USD $) In Thousands, unless otherwise specified	Apr. 25, 2015	Apr. 26, 2014
Inventories
Raw materials	$ 75,024	$ 71,247
Work in process	14,310	13,722
Finished goods	92,295	91,842
FIFO inventories	181,629	176,811
Excess of FIFO over LIFO	(24,840)	(29,802)
Total inventories	$ 156,789	$ 147,009

Property, Plant and Equipment (Details) (USD $)	12 Months Ended
Property, Plant and Equipment (Details) (USD $)	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Property, Plant and Equipment
Gross property, plant and equipment	$ 500,029,000	$ 455,180,000
Accumulated depreciation	(325,993,000)	(327,645,000)
Net property, plant and equipment	174,036,000	127,535,000
Depreciation expense	19,300,000	19,300,000	19,700,000
Buildings and building fixtures
Property, Plant and Equipment
Gross property, plant and equipment	202,482,000	161,490,000
Buildings and building fixtures \| Minimum
Property, Plant and Equipment
Useful Lives	3 years
Buildings and building fixtures \| Maximum
Property, Plant and Equipment
Useful Lives	40 years
Machinery and equipment
Property, Plant and Equipment
Gross property, plant and equipment	142,949,000	140,561,000
Machinery and equipment \| Minimum
Property, Plant and Equipment
Useful Lives	3 years
Machinery and equipment \| Maximum
Property, Plant and Equipment
Useful Lives	15 years
Information systems and software
Property, Plant and Equipment
Gross property, plant and equipment	72,200,000	64,208,000
Information systems and software \| Minimum
Property, Plant and Equipment
Useful Lives	3 years
Information systems and software \| Maximum
Property, Plant and Equipment
Useful Lives	10 years
Land
Property, Plant and Equipment
Gross property, plant and equipment	15,409,000	15,344,000
Land improvements
Property, Plant and Equipment
Gross property, plant and equipment	14,747,000	10,820,000
Land improvements \| Minimum
Property, Plant and Equipment
Useful Lives	3 years
Land improvements \| Maximum
Property, Plant and Equipment
Useful Lives	30 years
Transportation equipment
Property, Plant and Equipment
Gross property, plant and equipment	17,051,000	17,420,000
Transportation equipment \| Minimum
Property, Plant and Equipment
Useful Lives	3 years
Transportation equipment \| Maximum
Property, Plant and Equipment
Useful Lives	10 years
Furniture and fixtures
Property, Plant and Equipment
Gross property, plant and equipment	20,996,000	14,104,000
Furniture and fixtures \| Minimum
Property, Plant and Equipment
Useful Lives	3 years
Furniture and fixtures \| Maximum
Property, Plant and Equipment
Useful Lives	15 years
Construction in progress
Property, Plant and Equipment
Gross property, plant and equipment	$ 14,195,000	$ 31,233,000

Goodwill and Other Intangible Assets, Goodwill (Details) (USD $)	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Goodwill
Cash paid to acquire dealer assets	$ 1,774,000	$ 801,000	$ 15,832,000
Roll-forward of goodwill
Balance at beginning of period	13,923,000	12,837,000
Acquisitions	1,241,000	1,086,000
Balance at end of period	15,164,000	13,923,000	12,837,000
Goodwill
Key assumptions used in assessment of goodwill
Discount rate	11.50%
Terminal growth rate	2.00%
Independent dealer assets acquired
Goodwill
Number of dealers whose assets were acquired	2	2
Cash paid to acquire dealer assets	1,800,000	800,000
Forgiveness of net accounts and notes receivable	$ 1,000,000	$ 3,000,000

Goodwill and Other Intangible Assets, Intangible Assets (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014
Roll-forward of other indefinite-lived intangible assets
Balance at beginning of period	$ 4,544	$ 4,838
Acquisitions	1,025	1,093
Restructuring		(1,265)
Impairment charges	(111)	(122)
Balance at end of period	5,458	4,544
Tradenames
Roll-forward of other indefinite-lived intangible assets
Balance at beginning of period	1,306	2,693
Restructuring		(1,265)
Impairment charges	(111)	(122)
Balance at end of period	1,195	1,306
Reacquired Rights
Roll-forward of other indefinite-lived intangible assets
Balance at beginning of period	3,238	2,145
Acquisitions	1,025	1,093
Balance at end of period	$ 4,263	$ 3,238

Investments (Details) (USD $)	12 Months Ended
Investments (Details) (USD $)	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Summary of investments
Gross Unrealized Gains	$ 2,239,000	$ 1,413,000
Gross Unrealized Losses	(114,000)	(106,000)
Fair Value	61,195,000	60,938,000
Sales of available-for-sale securities
Proceeds from sales	33,750,000	34,557,000	18,662,000
Gross realized gains	285,000	857,000	4,486,000
Gross realized losses	(74,000)	(559,000)	(1,316,000)
Fair value of available-for-sale securities by contractual maturity
Fair value, available-for-sale securities with contractual maturity within one year	16,900,000
Fair value, available-for-sale securities with contractual maturity within two to five years	32,000,000
Fair value, available-for-sale securities with contractual maturity within six to ten years	1,300,000
Fair value, available-for-sale securities with contractual maturity after ten years	200,000
Investments Used to Enhance Returns on Cash
Summary of investments
Fair Value	45,500,000	44,700,000
Other current assets
Investments
Available-for-sale investments	16,800,000	15,900,000
Trading securities	1,100,000	1,800,000
Other long-term assets
Investments
Available-for-sale investments	43,300,000	43,200,000
Equity securities
Summary of investments
Gross Unrealized Gains	2,014,000	1,246,000
Gross Unrealized Losses	(78,000)	(52,000)
Fair Value	9,251,000	8,216,000
Fixed income
Summary of investments
Gross Unrealized Gains	224,000	166,000
Gross Unrealized Losses	(14,000)	(44,000)
Fair Value	50,358,000	50,510,000
Mutual funds
Summary of investments
Fair Value	1,127,000	1,787,000
Other
Summary of investments
Gross Unrealized Gains	1,000	1,000
Gross Unrealized Losses	(22,000)	(10,000)
Fair Value	$ 459,000	$ 425,000

Accrued Expenses and Other Current Liabilities (Details) (USD $)	Apr. 25, 2015	Apr. 26, 2014
Accrued Expenses and Other Current Liabilities
Payroll and other compensation	$ 40,711,000	$ 42,667,000
Accrued product warranty, current portion	10,182,000	9,815,000
Customer deposits	23,722,000	20,903,000
Other current liabilities	33,711,000	29,491,000
Accrued expenses and other current liabilities	108,326,000	102,876,000
Book overdraft	$ 7,300,000

- Definition

Aggregate carrying amount of current liabilities (due within one year or within the normal operating cycle if longer) not separately disclosed in the balance sheet. Includes costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered and of liabilities not separately disclosed.

+ References+ Details

- Definition

Carrying value as of the balance sheet date of obligations incurred through that date and payable for estimated claims under standard and extended warranty protection rights granted to customers. For classified balance sheets, represents the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

+ References+ Details

Debt (Details) (USD $)	12 Months Ended
Debt (Details) (USD $)	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Debt
Total debt	$ 830,000	$ 7,774,000
Less: current portion	(397,000)	(7,497,000)
Long-term debit	433,000	277,000
Cash paid for interest	500,000	500,000	700,000
Industrial revenue bonds
Debt
Total debt		7,100,000
Capital leases
Debt
Total debt	830,000	674,000
Minimum interest rate (in hundredths)	2.70%
Maximum interest rate (in hundredths)	7.60%
Maturities of long-term capital leases
2017	200,000
2018	100,000
2019	100,000
Capital leases \| Maximum
Maturities of long-term capital leases
2020	100,000
Revolving credit facility
Debt
Borrowings outstanding	0
Excess availability	145,000,000
Credit commitment	$ 150,000,000

Operating Leases (Details) (USD $)	12 Months Ended
Operating Leases (Details) (USD $)	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Operating Leases
Total rent liability	$ 13,500,000	$ 12,800,000
Future minimum rentals for all non-cancelable operating leases
2016	55,576,000
2017	54,587,000
2018	51,775,000
2019	46,212,000
2020	40,015,000
2021 and beyond	115,902,000
Total Future Minimum Rentals	364,067,000
Future rental income from subleases
2016	4,394,000
2017	4,160,000
2018	4,101,000
2019	4,104,000
2020	4,132,000
2021 and beyond	8,756,000
Total Future Minimum Income	29,647,000
Rental expense and rental income for operating leases
Rental expense	55,808,000	51,132,000	47,872,000
Rental income	$ 4,966,000	$ 5,138,000	$ 5,095,000

Retirement and Welfare, Deferred Compensation (Details) (USD $)	Apr. 25, 2015	Apr. 26, 2014
Other current assets
Retirement and Welfare
Market value of mutual funds	$ 1,100,000	$ 1,800,000
PCRP \| Other long-term liabilities
Retirement and Welfare
Deferred compensation arrangement obligations	3,900,000	2,500,000
Executive deferred compensation plan \| Other long-term liabilities
Retirement and Welfare
Deferred compensation arrangement obligations	15,600,000	12,300,000
Executive deferred compensation plan \| Other long-term assets
Retirement and Welfare
Cash surrender value of life insurance contracts	17,400,000	10,900,000
Executive deferred compensation plan \| Other current assets
Retirement and Welfare
Market value of mutual funds	$ 1,100,000	$ 1,800,000

Retirement and Welfare, Non-qualified Plan (Details) (USD $)	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014
Retirement and Welfare
Actuarial gain (loss) recognized in accumulated other comprehensive loss	$ (836,000)	$ 5,932,000
Non-qualified defined benefit retirement plan
Retirement and Welfare
Total cost recognized	800,000	800,000
Actuarial gain (loss) recognized in accumulated other comprehensive loss	(1,700,000)	400,000
Benefit payments	1,100,000	1,100,000
Future benefit payments expected annually for the next ten years	1,100,000
Discount rate used to determine benefit obligations (as a percent)	3.90%	4.30%
Non-qualified defined benefit retirement plan \| Other long-term liabilities
Retirement and Welfare
Plan obligations	$ 17,500,000	$ 16,200,000

- Definition

The amount of payments made for which participants are entitled under a pension plan, including pension benefits, death benefits, and benefits due on termination of employment. Also includes payments made under a postretirement benefit plan, including prescription drug benefits, health care benefits, life insurance benefits, and legal, educational and advisory services. This item represents a periodic decrease to the plan obligations and a decrease to plan assets.

+ References+ Details

- Definition

Amount before tax of (increase) decrease in the value of the projected benefit obligation related to a change in an actuarial assumption and increase (decrease) in the value of the plan assets resulting from experience different from that assumed, that has not been recognized in net periodic benefit (cost) credit.

+ References+ Details

Retirement and Welfare, Defined Benefit and Defined Contribution (Details) (USD $)	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Changes in plan assets and benefit obligations recognized in accumulated other comprehensive loss (pre-tax)
Beginning of year net actuarial loss	$ 39,425,000	$ 48,745,000
Net current year actuarial (gain) loss	836,000	(5,932,000)
Amortization of actuarial loss	(2,659,000)	(3,388,000)
End of year net actuarial loss	37,602,000	39,425,000	48,745,000
Unrecognized actuarial losses expected to be amortized in fiscal 2016	3,000,000
Components of net periodic pension cost and retirement costs
Other	124,000	223,000	191,000
Total retirement costs (excluding non-qualified defined benefit retirement plan)	11,536,000	11,189,000	8,114,000
401(k)
Components of net periodic pension cost and retirement costs
Defined contribution plan cost	6,270,000	5,802,000	5,198,000
PCRP
Components of net periodic pension cost and retirement costs
Defined contribution plan cost	1,377,000	2,513,000
Defined benefit pension plan for factory hourly employees
Components of net periodic pension cost and retirement costs
Service cost	1,114,000	1,241,000	1,231,000
Interest cost	5,070,000	4,822,000	5,325,000
Expected return on plan assets	(5,077,000)	(6,800,000)	(6,855,000)
Net amortization and deferral	2,658,000	3,388,000	3,024,000
Net periodic pension cost (hourly plan)	3,765,000	2,651,000	2,725,000
Change in benefit obligation
Benefit obligation at beginning of year	116,870,000	123,495,000
Service cost	1,114,000	1,241,000	1,231,000
Interest cost	5,070,000	4,822,000	5,325,000
Actuarial (gain) loss	3,664,000	(3,565,000)
Benefits paid	(5,638,000)	(9,123,000)
Benefit obligation at end of year	121,080,000	116,870,000	123,495,000
Change in plan assets
Fair value of plan assets at beginning of year	111,474,000	111,430,000
Actual return on plan assets	7,906,000	9,494,000
Other expenses		(327,000)
Benefits paid	(5,638,000)	(9,123,000)
Fair value of plan assets at end of year	113,742,000	111,474,000	111,430,000
Funded status	(7,338,000)	(5,396,000)
Other long-term liabilities	(7,338,000)	(5,396,000)
Actuarial assumptions for the defined benefit pension plan
Discount rate used to determine benefit obligations (as a percent)	4.20%	4.40%	4.00%
Discount rate used to determine net benefit cost (as a percent)	4.40%	4.00%	4.60%
Long-term rate of return (as a percent)	4.70%	4.70%	6.30%
Pension assets
Employer contributions	0
Expected contributions during fiscal 2016	7,000,000
Expected benefit payments
2016	6,195,000
2017	6,340,000
2018	6,504,000
2019	6,675,000
2020	6,856,000
2021 to 2025	36,373,000
Total	68,943,000
Defined benefit pension plan for factory hourly employees \| Level 1
Change in plan assets
Fair value of plan assets at end of year	23,269,000	22,830,000
Defined benefit pension plan for factory hourly employees \| Level 2
Change in plan assets
Fair value of plan assets at end of year	90,473,000	88,644,000
Defined benefit pension plan for factory hourly employees \| Fixed rate investments
Pension assets
Strategic asset allocation (as a percent)	90.00%
Defined benefit pension plan for factory hourly employees \| Cash and equivalents \| Level 1
Change in plan assets
Fair value of plan assets at end of year	149,000	207,000
Defined benefit pension plan for factory hourly employees \| Cash and equivalents \| Level 2
Change in plan assets
Fair value of plan assets at end of year	3,685,000	6,083,000
Defined benefit pension plan for factory hourly employees \| Equity funds \| Level 1
Change in plan assets
Fair value of plan assets at end of year	23,120,000	22,623,000
Defined benefit pension plan for factory hourly employees \| Equity funds \| Level 2
Change in plan assets
Fair value of plan assets at end of year	7,702,000	7,736,000
Defined benefit pension plan for factory hourly employees \| Debt funds \| Level 2
Change in plan assets
Fair value of plan assets at end of year	$ 79,086,000	$ 74,825,000

Product Warranties (Details) (USD $)	12 Months Ended
Product Warranties (Details) (USD $)	Apr. 25, 2015	Apr. 26, 2014
Reconciliation of changes in product warranty liability
Balance as of the beginning of the period	$ 16,013,000	$ 15,525,000
Accruals during the period	19,017,000	16,373,000
Accrual adjustments	(953,000)	(945,000)
Reclass to discontinued operations		(367,000)
Settlements during the period	(17,207,000)	(14,573,000)
Balance as of the end of the period	16,870,000	16,013,000
Product warranty liability included in accrued expenses and other current liabilities	$ 10,200,000	$ 9,800,000
Upholstery Segment
Product Warranties
Percentage of warranty liability relating to the segment	0.95%
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

Stock-Based Compensation (Details) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Stock-based compensation expense recognized for outstanding grants
Equity-based awards expense	$ 6,780	$ 8,739	$ 11,458
Liability-based awards expense	4,597	5,736	2,170
Total stock-based compensation expense	$ 11,377	$ 14,475	$ 13,628
2010 Omnibus Incentive Plan
Stock-Based Compensation
Aggregate number of common shares that may be issued through awards (in shares)	8,700,000
Stock Options
Stock-Based Compensation
Shares granted (in shares)	373,711
Restricted Stock
Stock-Based Compensation
Number of shares or units granted	115,811
Restricted Stock Units \| Directors
Stock-Based Compensation
Number of shares or units granted	33,000
Performance-Based Shares
Stock-Based Compensation
Number of shares or units granted	192,000	191,000	133,000

Stock-Based Compensation, Stock Options (Details) (USD $)	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Stock-Based Compensation
Expense recognized	$ 11,377,000	$ 14,475,000	$ 13,628,000
Cash received for exercises of stock options	1,397,000	3,565,000	2,901,000
Stock Options
Stock-Based Compensation
Cash received for exercises of stock options	1,400,000	3,600,000	2,900,000
Number of Shares
Outstanding, at beginning of period (in shares)	798,000
Granted (in shares)	373,711
Exercised (in shares)	(130,000)
Outstanding, at end of period (in shares)	1,042,000	798,000
Exercisable (in shares)	382,000
Weighted Average Exercise Price
Outstanding, at beginning of period (in dollars per share)	$ 11.79
Granted (in dollars per share)	$ 23.63
Exercised (in dollars per share)	$ 10.71
Outstanding, at end of period (in dollars per share)	$ 16.15	$ 11.79
Exercisable (in dollars per share)	$ 10.78
Additional information
Weighted Average Remaining Contractual Term, Outstanding	7 years 7 months 6 days	7 years 6 months
Weighted Average Remaining Contractual Term, Exercisable	6 years 4 months 24 days
Aggregate Intrinsic Value, Outstanding	11,773,000	10,185,000
Aggregate Intrinsic Value, Exercised	2,011,000	8,300,000	6,000,000
Aggregate Intrinsic Value, Exercisable	6,387,000
Unrecognized compensation cost	1,800,000
Period for recognition of unrecognized compensation costs	1 year 9 months 18 days
Vested during the period (in shares)	200,000
Fair value assumptions
Risk-free interest rate (as a percent)	1.59%	0.84%	0.75%
Dividend rate (as a percent)	1.00%	0.84%	0.00%
Expected life in years	5 years	5 years	5 years
Stock price volatility (as a percent)	54.40%	81.30%	83.80%
Fair value per share (in dollars per share)	$ 10.45	$ 11.63	$ 7.87
Stock Options \| Minimum
Stock-Based Compensation
Purchase price of common stock at date of grant (as a percent)	1.00%
Vesting period	1 year
Stock Options \| Maximum
Stock-Based Compensation
Vesting period	4 years
Stock Options \| Selling, General and Administrative Expense
Stock-Based Compensation
Expense recognized	$ 3,000,000	$ 2,100,000	$ 2,300,000
Stock Options \| Former Long-Term Equity Award Plan \| Minimum
Stock-Based Compensation
Award expiration term	5 years
Stock Options \| Former Long-Term Equity Award Plan \| Maximum
Stock-Based Compensation
Award expiration term	10 years

Stock-Based Compensation, SARs (Details) (USD $)	12 Months Ended
Stock-Based Compensation, SARs (Details) (USD $)	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Stock-Based Compensation
Expense recognized	$ 11,377,000	$ 14,475,000	$ 13,628,000
Stock Appreciation Rights
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
Unrecognized compensation cost	700,000
Period for recognition of unrecognized compensation costs	1 year 3 months 18 days
Stock Appreciation Rights \| Fiscal 2014 Grant
Fair value assumptions
Risk-free interest rate (as a percent)	1.02%
Dividend rate (as a percent)	1.16%
Expected life in years	3 years 2 months 12 days
Stock price volatility (as a percent)	34.00%
Fair value per share (in dollars per share)	$ 10.24
Stock Appreciation Rights \| Fiscal 2013 Grant
Fair value assumptions
Risk-free interest rate (as a percent)	0.64%
Dividend rate (as a percent)	1.16%
Expected life in years	2 years 2 months 12 days
Stock price volatility (as a percent)	30.00%
Fair value per share (in dollars per share)	$ 15.09
Stock Appreciation Rights \| Selling, General and Administrative Expense
Stock-Based Compensation
Expense recognized	$ 700,000	$ 1,100,000	$ 600,000

Stock-Based Compensation, Restricted Shares and RSUs (Details) (USD $)	12 Months Ended			3 Months Ended	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013	Jul. 26, 2014 Restricted Stock	Apr. 25, 2015 Restricted Stock	Apr. 25, 2015 Restricted Stock Selling, General and Administrative Expense	Apr. 26, 2014 Restricted Stock Selling, General and Administrative Expense	Apr. 27, 2013 Restricted Stock Selling, General and Administrative Expense	Apr. 25, 2015 Restricted Stock Units Employees	Apr. 25, 2015 Restricted Stock Units Directors	Apr. 26, 2014 Restricted Stock Units Directors	Apr. 27, 2013 Restricted Stock Units Directors	Apr. 25, 2015 Restricted Stock Units Directors Maximum	Apr. 26, 2014 Restricted Stock Units Directors Maximum	Apr. 27, 2013 Restricted Stock Units Directors Maximum	Apr. 25, 2015 Restricted Stock Units Selling, General and Administrative Expense Employees	Apr. 26, 2014 Restricted Stock Units Selling, General and Administrative Expense Employees	Apr. 27, 2013 Restricted Stock Units Selling, General and Administrative Expense Employees	Apr. 25, 2015 Restricted Stock Units Selling, General and Administrative Expense Directors	Apr. 26, 2014 Restricted Stock Units Selling, General and Administrative Expense Directors	Apr. 27, 2013 Restricted Stock Units Selling, General and Administrative Expense Directors
Stock-Based Compensation
Fair value (in dollars per unit)									$ 27.49
Award common share equivalent (in shares)									1
Percentage vesting each year from date of grant					25.00%				25.00%
Period from grant date for first vesting					1 year				1 year
Vesting period					4 years				4 years
Expense recognized	$ 11,377,000	$ 14,475,000	$ 13,628,000			$ 800,000	$ 500,000	$ 1,000,000								$ 1,500,000	$ 1,600,000	$ 500,000	$ 700,000	$ 700,000	$ 700,000
Unrecognized compensation cost					$ 2,200,000				$ 2,700,000
Period for recognition of unrecognized compensation costs					3 years 2 months 12 days				1 year 9 months 18 days
Number of Shares
Non-vested at beginning of period (in shares)				102,000	102,000				221,000
Granted (in shares)					115,811					33,000			100,000	100,000	100,000
Vested (in shares)					(66,000)				(63,000)
Canceled (in shares)					(10,000)				(12,000)
Non-vested at end of period (in shares)					142,000				146,000
Weighted Average Grant Date Fair Value
Non-vested at beginning of period (in dollars per share)				$ 7.77	$ 7.77				$ 15.90
Granted (in dollars per share/unit)				$ 23.63	$ 23.68					$ 21.81	$ 21.20	$ 13.99
Vested (in dollars per share)					$ 6.92				$ 15.35
Canceled (in dollars per share)					$ 17.68				$ 16.14
Non-vested at end of period (in dollars per share)					$ 20.50				$ 16.12

Stock-Based Compensation, Performance Awards (Details) (USD $)	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Stock-Based Compensation
Equity based compensation expenses	$ 11,377,000	$ 14,475,000	$ 13,628,000
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 \| 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 awards, performance period	3 years
Performance-Based Shares
Stock-Based Compensation
Number of shares or units granted	192,000	191,000	133,000
Unrecognized compensation cost	3,100,000
Period for recognition of unrecognized compensation costs	1 year 4 months 24 days
Performance-Based Shares \| Fiscal 2011 Grant
Stock-Based Compensation
Equity based compensation expenses			1,707,000
Performance-Based Shares \| Fiscal 2012 Grant
Stock-Based Compensation
Equity based compensation expenses		3,603,000	5,442,000
Performance-Based Shares \| Fiscal 2013 Grant
Stock-Based Compensation
Number of shares or units earned	171,000
Equity based compensation expenses	568,000	849,000	440,000
Performance-Based Shares \| Fiscal 2014 Grant
Stock-Based Compensation
Number of shares or units earned	84,000
Equity based compensation expenses	769,000	1,006,000
Performance-Based Shares \| Fiscal 2015 Grant
Stock-Based Compensation
Number of shares or units earned	49,000
Equity based compensation expenses	908,000
Performance-Based Shares \| Vesting Based on Performance \| Fiscal 2013 Grant
Stock-Based Compensation
Fair value on date of grant (in dollars per share)			$ 11.97
Performance-Based Shares \| Vesting Based on Performance \| Fiscal 2014 Grant
Stock-Based Compensation
Fair value on date of grant (in dollars per share)		$ 18.58
Performance-Based Shares \| Vesting Based on Performance \| Fiscal 2015 Grant
Stock-Based Compensation
Fair value on date of grant (in dollars per share)	$ 22.91
Performance-Based Shares \| Vesting Based on Market \| Fiscal 2013 Grant
Stock-Based Compensation
Fair value on date of grant (in dollars per share)			$ 15.41
Performance-Based Shares \| Vesting Based on Market \| Fiscal 2014 Grant
Stock-Based Compensation
Fair value on date of grant (in dollars per share)		$ 26.08
Performance-Based Shares \| Vesting Based on Market \| Fiscal 2015 Grant
Stock-Based Compensation
Fair value on date of grant (in dollars per share)	$ 29.64
Performance-Based Units
Stock-Based Compensation
Number of shares or units granted		35,000	146,000
Equity based compensation expenses	2,000,000	2,200,000	700,000
Unrecognized compensation cost	$ 300,000
Period for recognition of unrecognized compensation costs	1 year 1 month 6 days
Performance-Based Units \| Fiscal 2013 Grant
Stock-Based Compensation
Number of shares or units earned	154,000
Performance-Based Units \| Fiscal 2014 Grant
Stock-Based Compensation
Number of shares or units earned	14,000
Performance-Based Units \| Vesting Based on Performance \| Fiscal 2013 Grant
Stock-Based Compensation
Fair value (in dollars per unit)	$ 27.41
Performance-Based Units \| Vesting Based on Performance \| Fiscal 2014 Grant
Stock-Based Compensation
Fair value (in dollars per unit)	$ 27.09
Performance-Based Units \| Vesting Based on Market \| Fiscal 2013 Grant
Stock-Based Compensation
Fair value (in dollars per unit)	$ 51.75
Performance-Based Units \| Vesting Based on Market \| Fiscal 2014 Grant
Stock-Based Compensation
Fair value (in dollars per unit)	$ 42.37

Stock Based Compensation, Previously Granted Deferred Stock (Details) (USD $)	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Previously Granted Deferred Stock Units
Expense recognized	$ 11,377,000	$ 14,475,000	$ 13,628,000
Directors \| Deferred Stock Units
Previously Granted Deferred Stock Units
Award common share equivalent (in shares)	1
Deferred stock units outstanding (in shares)	100,000
Directors \| Deferred Stock Units \| Selling, General and Administrative Expense
Previously Granted Deferred Stock Units
Expense recognized	400,000	800,000	300,000
Other long-term liabilities \| Directors \| Deferred Stock Units
Previously Granted Deferred Stock Units
Liability related to awards	$ 3,400,000	$ 3,000,000

Accumulated Other Comprehensive Loss (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Activity in accumulated other comprehensive loss
Balance	$ (31,380)	$ (35,496)
Changes before reclassifications	(4,279)	4,490
Amounts reclassified to net income	3,630	3,587
Tax effect	(110)	(3,961)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(759)	4,116
Balance	(32,139)	(31,380)	(35,496)
Components of non-controlling interest
Balance as of the beginning of the period	7,832	7,140
Net income	1,198	1,324	793
Other comprehensive loss	(76)	(730)
Change in non-controlling interest		98	97
Balance as of the end of the period	8,954	7,832	7,140
Translation adjustment
Activity in accumulated other comprehensive loss
Balance	2,455	4,779
Changes before reclassifications	(938)	(2,324)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(938)	(2,324)
Balance	1,517	2,455
Change in fair value of cash flow hedge
Activity in accumulated other comprehensive loss
Balance	(53)	231
Changes before reclassifications	(1,857)	(780)
Amounts reclassified to net income	1,038	321
Tax effect	312	175
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(507)	(284)
Balance	(560)	(53)
Unrealized gain on marketable securities
Activity in accumulated other comprehensive loss
Balance	1,098	474
Changes before reclassifications	1,033	1,308
Amounts reclassified to net income	(214)	(300)
Tax effect	(312)	(384)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	507	624
Balance	1,605	1,098
Net pension amortization and net actuarial loss
Activity in accumulated other comprehensive loss
Balance	(34,880)	(40,980)
Changes before reclassifications	(2,517)	6,286
Amounts reclassified to net income	2,806	3,566
Tax effect	(110)	(3,752)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	179	6,100
Balance	$ (34,701)	$ (34,880)

Segment Information (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Segment Information
Total restructuring (income) expense	$ (360)	$ 8,071	$ 2,715
Continuing Operations
Segment Information
Total restructuring (income) expense	$ (371)	$ 4,839	$ 2,600
Customer concentration \| Sales
Segment Information
Percentage of purchases not applicable to any single customer	2.00%
Independent dealer assets acquired \| Northern Indiana
Segment Information
Number of stores	1
Upholstery Segment
Segment Information
Number of operating units	2
Upholstery Segment \| Customer concentration \| Sales
Segment Information
Percentage of purchases not applicable to any single customer	2.00%
Casegoods Segment
Segment Information
Number of brands	3
Retail Segment
Segment Information
Number of stores	110
Retail Segment \| Independent dealer assets acquired \| Southern California
Segment Information
Number of stores	4
Retail Segment \| Independent dealer assets acquired \| Las Vegas
Segment Information
Number of stores		3
Retail Segment \| Independent dealer assets acquired \| Northeast Ohio
Segment Information
Number of stores		2
Retail Segment \| Independent dealer assets acquired \| Southern Ohio
Segment Information
Number of stores			9

Segment Information, Income Statement Information (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Segment Information
Sales	$ 1,425,395	$ 1,357,318	$ 1,273,877
Operating Income (Loss)	103,165	89,296	67,603
Restructuring	371	(4,839)	(2,631)
Interest expense	523	548	746
Interest income	1,030	761	620
Income from Continued Dumping and Subsidy Offset Act, net	1,212
Other income, net	744	2,050	3,208
Income from continuing operations before income taxes	105,628	91,559	70,685
Depreciation and Amortization	22,283	23,035	22,963
Capital Expenditures	70,319	33,730	25,384
Assets	774,604	771,295	720,371
Upholstery Segment
Segment Information
Sales	990,237	959,118	902,454
Casegoods Segment
Segment Information
Sales	98,886	97,095	104,387
Retail Segment
Segment Information
Sales	333,978	298,642	264,723
Operating Segments \| Upholstery Segment
Segment Information
Sales	1,151,802	1,099,050	1,029,765
Operating Income (Loss)	121,403	117,688	95,571
Depreciation and Amortization	12,669	13,778	14,275
Capital Expenditures	14,979	6,579	9,857
Assets	317,102	305,814	296,108
Operating Segments \| Casegoods Segment
Segment Information
Sales	109,713	106,752	112,527
Operating Income (Loss)	6,408	3,397	3,703
Depreciation and Amortization	813	1,171	1,338
Capital Expenditures	1,149	149	1,058
Assets	48,403	53,299	70,147
Operating Segments \| Retail Segment
Segment Information
Operating Income (Loss)	11,466	11,128	4,099
Depreciation and Amortization	2,910	2,520	2,676
Capital Expenditures	2,993	4,379	4,251
Assets	126,189	119,816	73,496
Eliminations
Segment Information
Sales	(172,392)	(149,589)	(135,451)
Eliminations \| Upholstery Segment
Segment Information
Sales	161,565	139,932	127,311
Eliminations \| Casegoods Segment
Segment Information
Sales	10,827	9,657	8,140
Corporate and Other
Segment Information
Sales	2,294	2,463	2,313
Operating Income (Loss)	(36,483)	(38,078)	(33,139)
Depreciation and Amortization	5,891	5,566	4,674
Capital Expenditures	51,198	22,623	10,218
Unallocated
Segment Information
Assets	$ 282,910	$ 292,366	$ 280,620

Segment Information, Geographic Information (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Geographic Information
Long-lived assets	$ 195,583	$ 154,343	$ 141,376
Geographic concentration \| Sales
Geographic Information
Percentage of sales	100.00%	100.00%	100.00%
Domestic/United States
Geographic Information
Long-lived assets	187,224	147,538	133,208
Domestic/United States \| Geographic concentration \| Sales
Geographic Information
Percentage of sales	87.00%	86.00%	86.00%
International
Geographic Information
Long-lived assets	$ 8,359	$ 6,805	$ 8,168
Canada \| Geographic concentration \| Sales
Geographic Information
Percentage of sales	7.00%	8.00%	9.00%
Other \| Geographic concentration \| Sales
Geographic Information
Percentage of sales	6.00%	6.00%	5.00%

Income Taxes (Details) (USD $)	12 Months Ended
Income Taxes (Details) (USD $)	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Income before income taxes for continuing operations
United States	$ 96,605,000	$ 82,705,000	$ 63,193,000
Foreign	9,023,000	8,854,000	7,492,000
Income from continuing operations before income taxes	105,628,000	91,559,000	70,685,000
Federal:
- current	28,887,000	24,695,000	17,049,000
- deferred	406,000	1,495,000	1,341,000
State:
- current	4,573,000	5,345,000	2,746,000
- deferred	637,000	(2,082,000)	464,000
Foreign:
- current	2,281,000	1,375,000	739,000
-deferred	170,000	555,000	1,181,000
Total income tax expense (benefit)	36,954,000	31,383,000	23,520,000
Reconciliation of effective tax rate as it differs from the U.S. federal income tax rate
Statutory tax rate (as a percent)	35.00%	35.00%	35.00%
Increase (reduction) in income taxes resulting from:
State income taxes, net of federal benefit (as a percent)	3.50%	3.10%	3.00%
U.S. manufacturing benefit (as a percent)	(2.10%)	(1.00%)	(2.00%)
Change in valuation allowance (as a percent)	(0.40%)	(1.20%)	(0.30%)
Gain on sale of marketable securities (as a percent)			(1.60%)
Miscellaneous items (as a percent)	(1.00%)	(1.60%)	(0.80%)
Effective tax rate (as a percent)	35.00%	34.30%	33.30%
Undistributed earnings, reinvested	24,000,000
Potential deferred tax attributable to undistributed foreign earnings	3,100,000
Assets
Deferred and other compensation	22,085,000	19,774,000
Allowance for doubtful accounts	2,255,000	5,456,000
State income tax - net operating losses, credits and other	6,032,000	6,440,000
Pension	2,828,000	2,097,000
Warranty	6,466,000	6,247,000
Rent	5,174,000	4,824,000
Workers' compensation	4,173,000	4,068,000
Employee benefits	3,096,000	2,838,000
Other	1,262,000	3,760,000
Valuation allowance	(4,322,000)	(4,700,000)
Total deferred tax assets	49,049,000	50,804,000
Liabilities
Property, plant and equipment	(2,722,000)	(3,337,000)
Net deferred tax assets	46,327,000	47,467,000
Deferred tax assets associated with loss carryforwards
Various U.S state net operating losses (excluding federal tax effect)	8,678,000
Foreign capital losses	20,000
Future taxable income needed to fully recover net deferred tax assets	$ 118,000,000

Income Taxes, Valuation Allowance (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Apr. 25, 2015
Summary of valuation allowance by jurisdiction
Valuation Allowance, beginning of period	$ 4,700
Change	(378)
Valuation Allowance, end of period	4,322
U.S state
Summary of valuation allowance by jurisdiction
Valuation Allowance, beginning of period	4,680
Change	(377)
Valuation Allowance, end of period	4,303
Foreign
Summary of valuation allowance by jurisdiction
Valuation Allowance, beginning of period	20
Change	(1)
Valuation Allowance, end of period	$ 19

Income Taxes, Unrecognized Tax Benefits (Details) (USD $)	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Reconciliation of the beginning and ending balance of unrecognized tax benefits
Balance at the beginning of the period	$ 2,972,000	$ 3,248,000	$ 3,909,000
Additions:
Positions taken during the current year	94,000	88,000	338,000
Reductions:
Positions taken during the prior year	(702,000)	(99,000)	(28,000)
Decreases related to settlements with taxing authorities	(25,000)	(98,000)
Reductions resulting from the lapse of the statue of limitations	(113,000)	(167,000)	(971,000)
Balance at the end of the period	2,226,000	2,972,000	3,248,000
Interest and penalties accrued	300,000	300,000
Recognition of unrecognized tax benefit that would decrease the effective tax rate	400,000
Cash paid for taxes	$ 34,400,000	$ 25,000,000	$ 20,500,000

Earnings per Share (Details) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Numerator (basic and diluted):
Net income attributable to La-Z-Boy Incorporated	$ 70,773	$ 55,056	$ 46,389
Income allocated to participating securities, basic	(395)	(422)	(639)
Income allocated to participating securities, diluted	(395)	(422)	(639)
Net income available to common shareholders, basic	70,378	54,634	45,750
Net income available to common shareholders, diluted	$ 70,378	$ 54,634	$ 45,750
Denominator
Basic weighted average common shares outstanding (in shares)	51,767,000	52,386,000	52,351,000
Add:
Contingent common shares	250,000	1,049,000	812,000
Stock option dilution	329,000	394,000	522,000
Diluted weighted average common shares outstanding (in shares)	52,346,000	53,829,000	53,685,000
Outstanding options
Anti-dilutive options
Outstanding options excluded from diluted share calculation (in shares)			200,000
Weighted average exercise price of options excluded from diluted share calculation (in dollars per share)			$ 20.74

Fair Value Measurements (Details) (USD $)	Apr. 25, 2015	Apr. 26, 2014
Assets
Transfers from Level 1 to Level 2	$ 0	$ 0
Transfers from Level 2 to Level 1	0	0
Level 1 \| Fair Value, Measurements, Recurring [Member]
Assets
Available-for-sale Securities	1,552,000	1,521,000
Total	1,552,000	1,521,000
Level 2 \| Fair Value, Measurements, Recurring [Member]
Assets
Available-for-sale Securities	58,516,000	57,630,000
Trading securities	1,127,000	1,787,000
Total	$ 59,643,000	$ 59,417,000

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Details) (USD $) In Thousands, unless otherwise specified	12 Months Ended
	Apr. 25, 2015	Apr. 26, 2014	Apr. 27, 2013
Allowance for doubtful accounts, deducted from accounts receivable
Movement in Valuation Allowances and Reserves
Balance at Beginning of Year	$ 12,368	$ 21,607	$ 22,254
Charged to Costs and Expenses	(2,206)	(2,926)	495
Deductions	(5,540)	(6,313)	(1,142)
Balance at End of Year	4,622	12,368	21,607
Allowance for deferred tax assets
Movement in Valuation Allowances and Reserves
Balance at Beginning of Year	4,700	6,619	8,258
Charged to Costs and Expenses		(135)	131
Charged to Other Accounts	39		(1,572)
Deductions	(417)	(1,784)	(198)
Balance at End of Year	$ 4,322	$ 4,700	$ 6,619

Contingencies and Commitments	12 Months Ended
Contingencies and Commitments	Apr. 25, 2015
Contingencies and Commitments
Contingencies and Commitments	Note 13: Contingencies and Commitments We have been named as a defendant in various lawsuits arising in the ordinary course of business and as a potentially responsible party at certain environmental clean-up sites, the effect of which are not considered significant. Based on a review of all currently known facts and our experience with previous legal and environmental matters, we have recorded expense in respect of probable and reasonably estimable losses arising from legal and environmental matters and we currently do not believe it is probable that we will have any additional loss for legal or environmental matters that would be material to our consolidated financial statements.