Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Oct. 29, 2016	Nov. 23, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	LA-Z-BOY INC
Entity Central Index Key	0000057131
Current Fiscal Year End Date	--04-29
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		48,927,340
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q2
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 29, 2016

CONSOLIDATED STATEMENT OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 29, 2016	Oct. 24, 2015	Oct. 29, 2016	Oct. 24, 2015
CONSOLIDATED STATEMENT OF INCOME
Sales	$ 376,579	$ 382,891	$ 717,362	$ 724,314
Cost of sales	227,885	237,085	435,137	454,276
Gross profit	148,694	145,806	282,225	270,038
Selling, general and administrative expense	115,526	112,412	227,289	216,678
Operating income	33,168	33,394	54,936	53,360
Interest expense	117	133	232	245
Interest income	234	164	438	369
Other income (expense), net	(279)	512	(351)	2,480
Income before income taxes	33,006	33,937	54,791	55,964
Income tax expense	11,901	12,278	19,678	20,182
Net income	21,105	21,659	35,113	35,782
Net income attributable to noncontrolling interests	(272)	(707)	(474)	(1,154)
Net income attributable to La-Z-Boy Incorporated	$ 20,833	$ 20,952	$ 34,639	$ 34,628
Basic weighted average common shares (in shares)	49,153	50,493	49,129	50,538
Basic net income attributable to La-Z-Boy Incorporated per share (in dollars per share)	$ 0.42	$ 0.41	$ 0.70	$ 0.68
Diluted weighted average common shares (in shares)	49,511	51,039	49,554	51,076
Diluted net income attributable to La-Z-Boy Incorporated per share (in dollars per share)	$ 0.42	$ 0.41	$ 0.70	$ 0.67
Dividends declared per share (in dollars per share)	$ 0.10	$ 0.08	$ 0.20	$ 0.16

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 29, 2016	Oct. 24, 2015	Oct. 29, 2016	Oct. 24, 2015
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Net income	$ 21,105	$ 21,659	$ 35,113	$ 35,782
Other comprehensive income (loss)
Currency translation adjustment	(261)	(433)	(329)	(3,278)
Change in fair value of cash flow hedges, net of tax	139	232	(336)	35
Net unrealized gain (loss) on marketable securities, net of tax	(149)	(36)	56	(313)
Net pension amortization, net of tax	509	488	1,018	976
Total other comprehensive income (loss)	238	251	409	(2,580)
Total comprehensive income before allocation to noncontrolling interests	21,343	21,910	35,522	33,202
Comprehensive income attributable to noncontrolling interests	(199)	(548)	(373)	(364)
Comprehensive income attributable to La-Z-Boy Incorporated	$ 21,144	$ 21,362	$ 35,149	$ 32,838

CONSOLIDATED BALANCE SHEET - USD ($) $ in Thousands	Oct. 29, 2016	Apr. 30, 2016
Current assets
Cash and equivalents	$ 105,571	$ 112,358
Restricted cash	8,987	8,977
Receivables, net of allowance of $3,105 at 10/29/16 and $3,145 at 4/30/16	144,575	146,545
Inventories, net	186,710	175,589
Other current assets	39,813	38,503
Total current assets	485,656	481,972
Property, plant and equipment, net	170,620	171,590
Goodwill	47,388	37,193
Other intangible assets	11,736	8,558
Deferred income taxes - long-term	40,140	41,683
Other long-term assets, net	67,504	59,033
Total assets	823,044	800,029
Current liabilities
Current portion of long-term debt	254	290
Accounts payable	46,875	44,661
Accrued expenses and other current liabilities	116,498	112,476
Total current liabilities	163,627	157,427
Long-term debt	392	513
Other long-term liabilities	86,848	84,877
Contingencies and commitments
Shareholders' equity
Preferred shares - 5,000 authorized; none issued
Common shares, $1 par value - 150,000 authorized; 49,028 outstanding at 10/29/16 and 49,331 outstanding at 4/30/16	49,028	49,331
Capital in excess of par value	287,290	279,339
Retained earnings	258,906	252,472
Accumulated other comprehensive loss	(33,490)	(34,000)
Total La-Z-Boy Incorporated shareholders' equity	561,734	547,142
Noncontrolling interests	10,443	10,070
Total equity	572,177	557,212
Total liabilities and equity	$ 823,044	$ 800,029

CONSOLIDATED BALANCE SHEET (Parenthetical) - USD ($) shares in Thousands, $ in Thousands	Oct. 29, 2016	Apr. 30, 2016
Current assets
Receivables, allowance (in dollars)	$ 3,105	$ 3,145
Shareholders' equity
Preferred shares, authorized (in shares)	5,000	5,000
Preferred shares, issued (in shares)	0	0
Common shares, par value (in dollars per share)	$ 1	$ 1
Common shares, authorized (in shares)	150,000	150,000
Common shares, outstanding (in shares)	49,028	49,331

CONSOLIDATED STATEMENT OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Oct. 29, 2016	Oct. 24, 2015
Cash flows from operating activities
Net income	$ 35,113	$ 35,782
Adjustments to reconcile net income to cash provided by (used for) operating activities
Deferred income tax expense	1,089	138
Provision for doubtful accounts	(18)	(426)
Depreciation and amortization	13,999	12,679
Equity-based compensation expense	5,880	5,123
Pension plan contributions	(2,300)	(7,000)
Change in receivables	784	4,980
Change in inventories	(3,747)	(21,501)
Change in other assets	(1,868)	(5,656)
Change in payables	1,549	(628)
Change in other liabilities	1,898	(1,768)
Net cash provided by operating activities	52,379	21,723
Cash flows from investing activities
Proceeds from disposals of assets	143	2,491
Capital expenditures	(10,226)	(13,949)
Purchases of investments	(17,814)	(11,693)
Proceeds from sales of investments	9,757	19,409
Acquisitions, net of cash acquired	(15,997)	(19,232)
Change in restricted cash	(10)	660
Net cash used for investing activities	(34,147)	(22,314)
Cash flows from financing activities
Net proceeds from credit facility		4,000
Payments on debt	(156)	(283)
Stock issued for stock and employee benefit plans	3,095	253
Excess tax benefit on stock option exercises	1,826	392
Purchases of common stock	(19,766)	(18,461)
Dividends paid	(9,869)	(8,112)
Net cash used for financing activities	(24,870)	(22,211)
Effect of exchange rate changes on cash and equivalents	(149)	(934)
Change in cash and equivalents	(6,787)	(23,736)
Cash and equivalents at beginning of period	112,358	98,302
Cash and equivalents at end of period	105,571	$ 74,566
Supplemental disclosure of non-cash investing activities
Capital expenditures included in payables	$ 681

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY - USD ($) $ in Thousands	Common Shares	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Non-Controlling Interests	Total
Balance at Apr. 25, 2015	$ 50,747	$ 270,032	$ 235,506	$ (32,139)	$ 8,954	$ 533,100
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			79,252		1,711	80,963
Other comprehensive income (loss)				(1,861)	(595)	(2,456)
Stock issued for stock and employee benefit plans, net of cancellations and withholding tax	243	97	(2,068)			(1,728)
Purchases of common stock	(1,659)	(346)	(42,077)			(44,082)
Stock option and restricted stock expense		8,292				8,292
Tax benefit from exercise of options		1,264				1,264
Dividends paid			(18,141)			(18,141)
Balance at Apr. 30, 2016	49,331	279,339	252,472	(34,000)	10,070	557,212
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income			34,639		474	35,113
Other comprehensive income (loss)				510	(101)	409
Stock issued for stock and employee benefit plans, net of cancellations and withholding tax	466	2,563	(1,657)			1,372
Purchases of common stock	(769)	(2,318)	(16,679)			(19,766)
Stock option and restricted stock expense		5,880				5,880
Tax benefit from exercise of options		1,826				1,826
Dividends paid			(9,869)			(9,869)
Balance at Oct. 29, 2016	$ 49,028	$ 287,290	$ 258,906	$ (33,490)	$ 10,443	$ 572,177

Basis of Presentation	6 Months Ended
Basis of Presentation	Oct. 29, 2016
Basis of Presentation
Basis of Presentation	Note 1: Basis of Presentation The accompanying consolidated financial statements include the consolidated accounts of La-Z-Boy Incorporated and our majority-owned subsidiaries. We derived the April 30, 2016 balance sheet from our audited financial statements. We prepared the interim financial information in conformity with generally accepted accounting principles, which we applied on a basis consistent with those reflected in our fiscal 2016 Annual Report on Form 10-K filed with the Securities and Exchange Commission, but the information does not include all of the disclosures required by generally accepted accounting principles. In management’s opinion, the interim financial information includes all adjustments and accruals, consisting only of normal recurring adjustments (except as otherwise disclosed), that are necessary for a fair statement of results for the respective interim periods. The interim results reflected in the accompanying financial statements are not necessarily indicative of the results of operations that will occur for the full fiscal year ending April 29, 2017. Fiscal 2017 is a 52-week year as compared with fiscal 2016, which had 53 weeks, with the additional week occurring in the fourth quarter of fiscal 2016. During the first six months of each of fiscal 2017 and fiscal 2016, we recorded a benefit related to legal settlements as part of cost of sales. The legal settlements increased gross margin by 0.1 percentage points and 0.4 percentage points in the second quarter and first six months of fiscal 2017, respectively, compared to an increase of 0.5 percentage points in both the second quarter and first six months of fiscal 2016.

Acquisitions

6 Months Ended

Oct. 29, 2016

Acquisitions

Acquisitions

Note 2: Acquisitions

In the second quarter of fiscal 2017, we acquired the assets of two independent operators of four La-Z-Boy Furniture Galleries® stores in Canada for $11.9 million, composed of $10.7 million of cash and $1.2 million of forgiveness of these dealers’ accounts receivable. As part of these acquisitions, we recorded a contingent consideration liability of $2.8 million based on management’s assumptions of the operating performance for some of these stores over the next three fiscal years. We began including these stores in our Retail segment results upon acquisition.

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

Prior to these acquisitions, we licensed the exclusive right to own and operate La-Z-Boy Furniture Galleries® stores (and to use the associated trademarks and trade name) in those markets to the dealers whose assets we acquired. We reacquired these rights when we purchased the dealers’ other assets. The effective settlement of these arrangements resulted in no settlement gain or loss as the contractual terms were at market. We recorded indefinite-lived intangible assets of $3.2 million related to the reacquired rights. We also recognized $10.2 million of goodwill, which primarily relates to the expected synergies resulting from the integration of the acquired stores and the anticipated future benefits. We recorded the goodwill and other intangible assets in our Retail segment and will amortize and deduct them for federal income tax purposes over 15 years.

We based the purchase price allocations on fair values at the dates of acquisition and summarize them in the following table:

(Unaudited, amounts in thousands)	10/29/16
Current assets	$	7,721
Goodwill and other intangible assets	13,374
Property, plant and equipment, net	648

Total assets acquired	21,743

Current liabilities	(1,731		)
Contingent consideration liability	(2,825		)

Total liabilities acquired	(4,556		)


Net assets acquired	$	17,187

Since the impact of these acquisitions on our results of operations was not material, pro-forma financial information is not required.

- Definition

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

+ References

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+ Details

Inventories

6 Months Ended

Oct. 29, 2016

Inventories

Inventories

Note 3: Inventories

A summary of inventories is as follows:

(Unaudited, amounts in thousands)	10/29/16			4/30/16
Raw materials	$	89,326		$	87,905
Work in process	10,741			11,591
Finished goods	108,411			97,861

FIFO inventories	208,478			197,357
Excess of FIFO over LIFO	(21,768		)	(21,768		)

Inventories, net	$	186,710		$	175,589

Investments

6 Months Ended

Oct. 29, 2016

Investments

Investments

Note 4: Investments

We have current and long-term investments intended to enhance returns on our cash as well as to fund future obligations of our non-qualified defined benefit retirement plan, our executive deferred compensation plan, and our performance compensation retirement plan. We also hold other investments. Our short-term investments are included in other current assets and our long-term investments are included in other long-term assets on our consolidated balance sheet. The following summarizes our investments at October 29, 2016, and April 30, 2016:

(Unaudited, amounts in thousands)	10/29/16		4/30/16
Short-term investments:
Available-for-sale investments	$	13,615	$	13,491
Trading securities	434		—
Held-to-maturity investments	1,815		1,826

Total short-term investments	15,864		15,317

Long-term investments:
Available-for-sale investments	29,654		31,659
Cost basis investment	5,500		—

Total long-term investments	35,154		31,659


Total investments	$	51,018	$	46,976


Investments to enhance returns on cash	$	31,179	$	33,583
Investments to fund compensation/retirement plans	$	13,589	$	13,393
Other investments	$	6,250	$	—

The following is a summary of the unrealized gains, unrealized losses, and fair value by investment type at October 29, 2016, and April 30, 2016:

At October 29, 2016

(Unaudited, amounts in thousands)	Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities	$	1,400	$	(126	)	$	13,837
Fixed income	110		(39		)	34,293
Mutual funds	—		—			434
Other	1		(12		)	2,454

Total securities	$	1,511	$	(177	)	$	51,018

At April 30, 2016

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

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

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

	Quarter Ended						Six Months Ended
(Unaudited, amounts in thousands)	10/29/16			10/24/15			10/29/16			10/24/15
Proceeds from sales	$	6,087		$	6,426		$	9,757		$	19,409
Gross realized gains	16			26			47			703
Gross realized losses	(2		)	(33		)	(38		)	(539		)

The fair value of fixed income available-for-sale securities by contractual maturity was $13.9 million within one year, $18.9 million within two to five years, $1.2 million within six to ten years, and $0.3 million thereafter.

- Definition

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

+ References + Details

Pension Plans

6 Months Ended

Oct. 29, 2016

Pension Plans

Pension Plans

Note 5: Pension Plans

Net periodic pension costs were as follows:

	Quarter Ended						Six Months Ended
(Unaudited, amounts in thousands)	10/29/16			10/24/15			10/29/16			10/24/15
Service cost	$	319		$	333		$	638		$	666
Interest cost	1,170			1,211			2,340			2,422
Expected return on plan assets	(1,245		)	(1,226		)	(2,490		)	(2,452		)
Net amortization	764			736			1,528			1,472

Net periodic pension cost	$	1,008		$	1,054		$	2,016		$	2,108

Product Warranties

6 Months Ended

Oct. 29, 2016

Product Warranties

Product Warranties

Note 6: Product Warranties

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

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

	Quarter Ended						Six Months Ended
(Unaudited, amounts in thousands)	10/29/16			10/24/15			10/29/16			10/24/15
Balance as of the beginning of the period	$	20,908		$	17,230		$	20,511		$	16,870
Accruals during the period	4,719			5,651			9,854			10,762
Settlements during the period	(4,725		)	(4,820		)	(9,463		)	(9,571		)

Balance as of the end of the period	$	20,902		$	18,061		$	20,902		$	18,061

As of October 29, 2016, and April 30, 2016, we included $13.0 million and $12.4 million, respectively, of our product warranty liability in accrued expenses and other current liabilities on our consolidated balance sheet, and included the remainder in other long-term liabilities. We recorded accruals during the periods presented primarily to reflect charges that relate to warranties issued during the respective periods.

Stock-Based Compensation

6 Months Ended

Oct. 29, 2016

Stock-Based Compensation

Stock-Based Compensation

Note 7: Stock-Based Compensation

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

	Quarter Ended					Six Months Ended
(Unaudited, amounts in thousands)	10/29/16			10/24/15		10/29/16		10/24/15
Equity-based awards expense	$	2,551		$	2,111	$	5,880	$	5,123
Liability-based awards (income) expense	(1,229		)	1,507		270		1,068

Total stock-based compensation expense	$	1,322		$	3,618	$	6,150	$	6,191

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

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

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

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

In fiscal 2014 and fiscal 2013, we granted SARs as described in our Annual Reports on Form 10-K for the fiscal years ended April 26, 2014, and April 27, 2013, respectively. At October 29, 2016, we measured the fair value of the SARs granted during these fiscal years using the following assumptions:

(Unaudited)	Fiscal 2014 grant			Fiscal 2013 grant
Risk-free interest rate	0.77		%	0.59		%
Dividend rate	1.72		%	1.72		%
Expected life in years	1.63			0.71
Stock price volatility	31.85		%	31.28		%
Fair value per share	$	5.56		$	11.06

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

Restricted Stock Units. We did not grant any restricted stock units to employees during the first six months of fiscal 2017, but we have restricted stock units outstanding from previous grants. We account for these units as liability-based awards because upon vesting, these awards will be paid in cash. We measure and recognize initial compensation expense based on the market value (intrinsic value) of our common stock on the grant date and amortize the expense over the vesting period. We re-measure and adjust the liability based on the market value (intrinsic value) of our common shares on the last day of the reporting period until paid with a corresponding adjustment to reflect the cumulative amount of compensation expense. The fair value of each outstanding restricted stock unit at October 29, 2016, was $23.25, 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.

During the second quarter of fiscal 2017, we granted 23,624 restricted stock units to our non-employee directors. These restricted stock units vest when the director leaves the board. 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 $27.10.

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

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

- 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

6 Months Ended

Oct. 29, 2016

Accumulated Other Comprehensive Loss

Accumulated Other Comprehensive Loss

Note 8: Accumulated Other Comprehensive Loss

The activity in accumulated other comprehensive loss for the quarter ended October 29, 2016, and October 24, 2015, is as follows:

(Unaudited, amounts in thousands)	Translation adjustment			Change in fair value of cash flow hedge			Unrealized gain on marketable securities			Net pension amortization and net actuarial loss			Accumulated other comprehensive loss
Balance at July 30, 2016	$	(485	)	$	(761	)	$	1,263		$	(33,818	)	$	(33,801	)
Changes before reclassifications	(188		)	(200		)	(226		)	—			(614		)
Amounts reclassified to net income	—			424			(14		)	823			1,233
Tax effect	—			(85		)	91			(314		)	(308		)

Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(188		)	139			(149		)	509			311

Balance at October 29, 2016	$	(673	)	$	(622	)	$	1,114		$	(33,309	)	$	(33,490	)

(Unaudited, amounts in thousands)	Translation adjustment			Change in fair value of cash flow hedge			Unrealized gain on marketable securities			Net pension amortization and net actuarial loss			Accumulated other comprehensive loss
Balance at July 25, 2015	$	(697	)	$	(757	)	$	1,328		$	(34,213	)	$	(34,339	)
Changes before reclassifications	(274		)	(269		)	(65		)	—			(608		)
Amounts reclassified to net income	—			645			6			788			1,439
Tax effect	—			(144		)	23			(300		)	(421		)

Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(274		)	232			(36		)	488			410

Balance at October 24, 2015	$	(971	)	$	(525	)	$	1,292		$	(33,725	)	$	(33,929	)

The activity in accumulated other comprehensive loss for the six months ended October 29, 2016, and October 24, 2015, is as follows:

(Unaudited, amounts in thousands)	Translation adjustment			Change in fair value of cash flow hedge			Unrealized gain on marketable securities			Net pension amortization and net actuarial loss			Accumulated other comprehensive loss
Balance at April 30, 2016	$	(445	)	$	(286	)	$	1,058		$	(34,327	)	$	(34,000	)
Changes before reclassifications	(228		)	(1,479		)	100			—			(1,607		)
Amounts reclassified to net income	—			936			(9		)	1,645			2,572
Tax effect	—			207			(35		)	(627		)	(455		)

Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(228		)	(336		)	56			1,018			510

Balance at October 29, 2016	$	(673	)	$	(622	)	$	1,114		$	(33,309	)	$	(33,490	)

(Unaudited, amounts in thousands)	Translation adjustment			Change in fair value of cash flow hedge			Unrealized gain on marketable securities			Net pension amortization and net actuarial loss			Accumulated other comprehensive loss
Balance at April 25, 2015	$	1,517		$	(560	)	$	1,605		$	(34,701	)	$	(32,139	)
Changes before reclassifications	(2,488		)	(1,055		)	(341		)	—			(3,884		)
Amounts reclassified to net income	—			1,112			(165		)	1,577			2,524
Tax effect	—			(22		)	193			(601		)	(430		)

Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(2,488		)	35			(313		)	976			(1,790		)

Balance at October 24, 2015	$	(971	)	$	(525	)	$	1,292		$	(33,725	)	$	(33,929	)

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

The components of non-controlling interest for the quarter and six months ended October 29, 2016, and October 24, 2015, were as follows:

	Quarter Ended						Six Months Ended
(Unaudited, amounts in thousands)	10/29/16			10/24/15			10/29/16			10/24/15
Balance as of the beginning of the period	$	10,244		$	8,770		$	10,070		$	8,954
Net income	272			707			474			1,154
Other comprehensive loss	(73		)	(159		)	(101		)	(790		)

Balance as of the end of the period	$	10,443		$	9,318		$	10,443		$	9,318

- 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

6 Months Ended

Oct. 29, 2016

Segment Information

Segment Information

Note 9: Segment Information

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

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

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

Retail Segment. The Retail segment consists of 132 company-owned La-Z-Boy Furniture Galleries® stores. The Retail segment sells upholstered furniture, and some casegoods and other accessories, to end consumers through these stores.

	Quarter Ended						Six Months Ended
(Unaudited, amounts in thousands)	10/29/16			10/24/15			10/29/16			10/24/15
Sales
Upholstery segment:
Sales to external customers	$	244,898		$	260,080		$	468,707		$	492,564
Intersegment sales	50,891			45,737			94,498			85,929

Upholstery segment sales	295,789			305,817			563,205			578,493


Casegoods segment:
Sales to external customers	23,567			25,787			44,152			46,989
Intersegment sales	2,321			2,432			6,774			4,623

Casegoods segment sales	25,888			28,219			50,926			51,612


Retail segment sales	107,365			96,480			203,085			183,131

Corporate and Other:
Sales to external customers	749			544			1,418			1,630
Intersegment sales	1,563			750			2,773			1,266

Corporate and Other sales	2,312			1,294			4,191			2,896


Eliminations	(54,775		)	(48,919		)	(104,045		)	(91,818		)

Consolidated sales	$	376,579		$	382,891		$	717,362		$	724,314


Operating Income (Loss)
Upholstery segment	$	37,530		$	37,040		$	67,339		$	61,634
Casegoods segment	2,847			2,634			4,994			4,324
Retail segment	3,007			5,716			5,190			10,445
Corporate and Other	(10,216		)	(11,996		)	(22,587		)	(23,043		)

Consolidated operating income	33,168			33,394			54,936			53,360
Interest expense	117			133			232			245
Interest income	234			164			438			369
Other income (expense), net	(279		)	512			(351		)	2,480

Income before income taxes	$	33,006		$	33,937		$	54,791		$	55,964

- 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	6 Months Ended
Income Taxes	Oct. 29, 2016
Income Taxes
Income Taxes	Note 10: Income Taxes Our effective tax rate for the second quarter and six months ended October 29, 2016, was 36.1% and 35.9%, respectively. For the second quarter and six months ended October 24, 2015, our effective tax rate was 36.2% and 36.1%, respectively. Our effective tax rate varies from the 35% statutory rate primarily due to state taxes, less the benefit of the U.S. manufacturing deduction and foreign earnings in jurisdictions with lower tax rates than the U.S. Our consolidated balance sheet at the end of the second quarter of fiscal 2017 reflected a $0.8 million net liability for uncertain income tax positions. We do not expect this net liability to change significantly in the next 12 months. We will either pay or release the liability for uncertain income tax positions as tax audits are completed or settled, statutes of limitation expire or other new information becomes available.

Earnings per Share

6 Months Ended

Oct. 29, 2016

Earnings per Share

Earnings per Share

Note 11: Earnings per Share

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

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

	Quarter Ended						Six Months Ended
(Unaudited, amounts in thousands)	10/29/16			10/24/15			10/29/16			10/24/15
Numerator (basic and diluted):
Net income attributable to La-Z-Boy Incorporated	$	20,833		$	20,952		$	34,639		$	34,628
Income allocated to participating securities	(103		)	(107		)	(172		)	(185		)

Net income available to common shareholders	$	20,730		$	20,845		$	34,467		$	34,443


Denominator:
Basic weighted average common shares outstanding	49,153			50,493			49,129			50,538
Add:
Contingent common shares	100			178			100			178
Stock option dilution	258			368			325			360

Diluted weighted average common shares outstanding	49,511			51,039			49,554			51,076

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

For the quarter ended October 29, 2016, we had outstanding options to purchase 0.4 million shares with a weighted average exercise price of $26.69. We excluded the effect of these options from our diluted share calculation since, for each period presented, the weighted average exercise price of the options was higher than the average market price, and including the options’ effect would have been anti-dilutive. We did not exclude any outstanding options for the six months ended October 29, 2016, or for the quarter and six months ended October 24, 2015.

Fair Value Measurements

6 Months Ended

Oct. 29, 2016

Fair Value Measurements

Fair Value Measurements

Note 12: Fair Value Measurements

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

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

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

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

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

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

The following table presents the fair value hierarchy for those assets we measured at fair value on a recurring basis at October 29, 2016, and April 30, 2016:

At October 29, 2016	Fair Value Measurements
(Unaudited, amounts in thousands)	Level 1(a)		Level 2(a)		Level 3(b)
Assets
Available-for-sale investments	$	1,003	$	33,908	$	750
Trading securities	—		434		—
Held-to-maturity investments	1,816		—		—
Cost basis investment	—		—		5,500

Total assets	$	2,819	$	34,342	$	6,250


Liabilities
Contingent consideration liability	$	—	$	—	$	2,755

(a)

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

(b)

There were no transfers into or out of Level 3 during fiscal 2017.

At April 30, 2016	Fair Value Measurements
(Unaudited, amounts in thousands)	Level 1(c)		Level 2(c)		Level 3(d)
Assets
Available-for-sale investments	$	1,177	$	36,802	$	—
Held-to-maturity investments	1,826		—		—

Total	$	3,003	$	36,802	$	—

(c)

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

(d)

There were no transfers into or out of Level 3 during fiscal 2016.

The fair value measurements for our Level 1 and Level 2 securities are based on quoted prices in active markets, as well as through broker quotes and independent valuation providers, multiplied by the number of shares owned exclusive of any transaction costs. Our Level 3 investments are valued at the cost basis as of the date of purchase, because it is not practicable to estimate fair value. Our Level 3 liability is a contingent consideration liability, and we estimate the fair value of this liability based on the present value of the probability-weighted future cash flows which are unobservable inputs that are not supported by market activity.

The following table is a reconciliation of our Level 3 assets and liabilities recorded at fair value using significant unobservable inputs:

(Unaudited, amounts in thousands)	Level 3
Assets
Balance at April 30, 2016	$	—
Purchases	6,250

Balance at October 29, 2016	$	6,250


Liabilities
Balance at April 30, 2016	$	—
Acquisitions	2,825
Translation adjustment	(70		)

Balance at October 29, 2016	$	2,755

We hold certain available-for-sale investments that are measured at fair value using net asset value per share under the practical expedient. In accordance with recently issued accounting standards, we no longer include these investments in our asset leveling using the fair value hierarchy. Adoption of this standard had no effect on our consolidated financial statements, but as a result of this updated standard, we have reclassified the fiscal 2016 table above to conform to the fiscal 2017 presentation by removing our available-for-sale securities that are measured using net asset value. These investments are still included in the total fair value column of the table in our investment footnote (see Note 4). The fair value of the investments measured using net asset value at October 29, 2016, and April 30, 2016, was $7.6 million and $7.2 million, respectively.

- 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

Recent Accounting Pronouncements	6 Months Ended
Recent Accounting Pronouncements	Oct. 29, 2016
Recent Accounting Pronouncements
Recent Accounting Pronouncements	Note 13: Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued a new accounting standard that requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The new standard supersedes virtually all existing authoritative accounting guidance on revenue recognition and requires additional disclosures and greater use of estimates and judgments. During July 2015, the FASB deferred the effective date of the revenue recognition guidance by one year, thus making the new accounting standard effective for our fiscal year 2019. We are assessing the impact this guidance will have on our consolidated financial statements and financial statement disclosures. In January 2016, the FASB issued a new accounting standard that requires equity investments to be measured at fair value with the fair value changes to be recognized through net income. This standard does not apply to investments that are accounted for under the equity method of accounting, or that result in consolidation of the invested entity. We currently hold equity investments that are measured at fair value at the end of each reporting period, and we recognize the fair value changes through other comprehensive income (loss) as unrealized gains (losses). Based on the fair value of our unrealized loss as of April 30, 2016, adoption of this standard would be immaterial to our consolidated financial statements. Adoption of this standard will be required for our fiscal year 2019 financial statements. In February 2016, the FASB issued a new accounting standard requiring all operating leases that a lessee enters into to be recorded on its balance sheet. The lessee will record an asset for the right to use the underlying asset for the lease term and a liability for the contractual lease payments. This guidance is effective for our fiscal year 2020. We are assessing the impact this guidance will have on our consolidated financial statements and related disclosures. In March 2016, the FASB issued a new accounting standard focused on simplifying the accounting for share-based payments. The guidance includes changes to the accounting for income taxes related to share-based payments as well as changes to the presentation of these tax impacts on the statement of cash flows. This guidance will be applicable for our fiscal year 2018. We are assessing the impact this guidance will have on our consolidated financial statements. In June 2016, the FASB issued a new accounting standard that amends current guidance on other-than-temporary impairments of available-for-sale debt securities. This amended guidance requires the use of an allowance to record estimated credit losses on these assets when the fair value is below the amortized cost of the asset. This standard also removes the evaluation of the length of time that a security has been in a loss position to avoid recording a credit loss. We are required to adopt this standard for our fiscal year 2021 and apply it through a cumulative-effect adjustment to retained earnings. We are assessing the impact this guidance will have on our consolidated financial statements and disclosures. In August 2016, the FASB issued a new accounting standard that provides guidance on the classification of eight cash receipts and cash payments issues on the statement of cash flows. The intent of this standard is to help reduce diversity in practice regarding cash flow presentation. This guidance will be applicable for our fiscal year 2018. We do not believe that adoption of this standard will have a material impact on our statement of cash flows presentation. In October 2016, the FASB issued a new accounting standard that requires entities to recognize the income tax consequences of an intra-entity transfer of assets other than inventory when the transfer occurs. This guidance will be applicable for our fiscal year 2019. We are assessing the impact this guidance will have on our consolidated financial statements.

Acquisitions (Tables)

6 Months Ended

Oct. 29, 2016

Acquisitions

Summary of fair values at the dates of acquisition

(Unaudited, amounts in thousands)	10/29/16
Current assets	$	7,721
Goodwill and other intangible assets	13,374
Property, plant and equipment, net	648

Total assets acquired	21,743

Current liabilities	(1,731		)
Contingent consideration liability	(2,825		)

Total liabilities acquired	(4,556		)


Net assets acquired	$	17,187

Inventories (Tables)

6 Months Ended

Oct. 29, 2016

Inventories

Summary of inventories

(Unaudited, amounts in thousands)	10/29/16			4/30/16
Raw materials	$	89,326		$	87,905
Work in process	10,741			11,591
Finished goods	108,411			97,861

FIFO inventories	208,478			197,357
Excess of FIFO over LIFO	(21,768		)	(21,768		)

Inventories, net	$	186,710		$	175,589

Investments (Tables)

6 Months Ended

Oct. 29, 2016

Investments

Summary of investments

(Unaudited, amounts in thousands)	10/29/16		4/30/16
Short-term investments:
Available-for-sale investments	$	13,615	$	13,491
Trading securities	434		—
Held-to-maturity investments	1,815		1,826

Total short-term investments	15,864		15,317

Long-term investments:
Available-for-sale investments	29,654		31,659
Cost basis investment	5,500		—

Total long-term investments	35,154		31,659


Total investments	$	51,018	$	46,976


Investments to enhance returns on cash	$	31,179	$	33,583
Investments to fund compensation/retirement plans	$	13,589	$	13,393
Other investments	$	6,250	$	—

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

At October 29, 2016

(Unaudited, amounts in thousands)	Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Equity securities	$	1,400	$	(126	)	$	13,837
Fixed income	110		(39		)	34,293
Mutual funds	—		—			434
Other	1		(12		)	2,454

Total securities	$	1,511	$	(177	)	$	51,018

At April 30, 2016

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

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

Summary of sales of available-for-sale securities

	Quarter Ended						Six Months Ended
(Unaudited, amounts in thousands)	10/29/16			10/24/15			10/29/16			10/24/15
Proceeds from sales	$	6,087		$	6,426		$	9,757		$	19,409
Gross realized gains	16			26			47			703
Gross realized losses	(2		)	(33		)	(38		)	(539		)

Pension Plans (Tables)

6 Months Ended

Oct. 29, 2016

Pension Plans

Schedule of net periodic pension costs

	Quarter Ended						Six Months Ended
(Unaudited, amounts in thousands)	10/29/16			10/24/15			10/29/16			10/24/15
Service cost	$	319		$	333		$	638		$	666
Interest cost	1,170			1,211			2,340			2,422
Expected return on plan assets	(1,245		)	(1,226		)	(2,490		)	(2,452		)
Net amortization	764			736			1,528			1,472

Net periodic pension cost	$	1,008		$	1,054		$	2,016		$	2,108

Product Warranties (Tables)

6 Months Ended

Oct. 29, 2016

Product Warranties

Reconciliation of changes in product warranty liability

	Quarter Ended						Six Months Ended
(Unaudited, amounts in thousands)	10/29/16			10/24/15			10/29/16			10/24/15
Balance as of the beginning of the period	$	20,908		$	17,230		$	20,511		$	16,870
Accruals during the period	4,719			5,651			9,854			10,762
Settlements during the period	(4,725		)	(4,820		)	(9,463		)	(9,571		)

Balance as of the end of the period	$	20,902		$	18,061		$	20,902		$	18,061

Stock-Based Compensation (Tables)

6 Months Ended

Oct. 29, 2016

Stock-Based Compensation

Summary of total stock-based compensation expense

	Quarter Ended					Six Months Ended
(Unaudited, amounts in thousands)	10/29/16			10/24/15		10/29/16		10/24/15
Equity-based awards expense	$	2,551		$	2,111	$	5,880	$	5,123
Liability-based awards (income) expense	(1,229		)	1,507		270		1,068

Total stock-based compensation expense	$	1,322		$	3,618	$	6,150	$	6,191

Fair value assumptions for stock options

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

Fair value assumptions for SARs

(Unaudited)	Fiscal 2014 grant			Fiscal 2013 grant
Risk-free interest rate	0.77		%	0.59		%
Dividend rate	1.72		%	1.72		%
Expected life in years	1.63			0.71
Stock price volatility	31.85		%	31.28		%
Fair value per share	$	5.56		$	11.06

Accumulated Other Comprehensive Loss (Tables)

6 Months Ended

Oct. 29, 2016

Accumulated Other Comprehensive Loss

Activity in accumulated other comprehensive loss

(Unaudited, amounts in thousands)	Translation adjustment			Change in fair value of cash flow hedge			Unrealized gain on marketable securities			Net pension amortization and net actuarial loss			Accumulated other comprehensive loss
Balance at July 30, 2016	$	(485	)	$	(761	)	$	1,263		$	(33,818	)	$	(33,801	)
Changes before reclassifications	(188		)	(200		)	(226		)	—			(614		)
Amounts reclassified to net income	—			424			(14		)	823			1,233
Tax effect	—			(85		)	91			(314		)	(308		)

Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(188		)	139			(149		)	509			311

Balance at October 29, 2016	$	(673	)	$	(622	)	$	1,114		$	(33,309	)	$	(33,490	)

(Unaudited, amounts in thousands)	Translation adjustment			Change in fair value of cash flow hedge			Unrealized gain on marketable securities			Net pension amortization and net actuarial loss			Accumulated other comprehensive loss
Balance at July 25, 2015	$	(697	)	$	(757	)	$	1,328		$	(34,213	)	$	(34,339	)
Changes before reclassifications	(274		)	(269		)	(65		)	—			(608		)
Amounts reclassified to net income	—			645			6			788			1,439
Tax effect	—			(144		)	23			(300		)	(421		)

Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(274		)	232			(36		)	488			410

Balance at October 24, 2015	$	(971	)	$	(525	)	$	1,292		$	(33,725	)	$	(33,929	)

(Unaudited, amounts in thousands)	Translation adjustment			Change in fair value of cash flow hedge			Unrealized gain on marketable securities			Net pension amortization and net actuarial loss			Accumulated other comprehensive loss
Balance at April 30, 2016	$	(445	)	$	(286	)	$	1,058		$	(34,327	)	$	(34,000	)
Changes before reclassifications	(228		)	(1,479		)	100			—			(1,607		)
Amounts reclassified to net income	—			936			(9		)	1,645			2,572
Tax effect	—			207			(35		)	(627		)	(455		)

Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(228		)	(336		)	56			1,018			510

Balance at October 29, 2016	$	(673	)	$	(622	)	$	1,114		$	(33,309	)	$	(33,490	)

(Unaudited, amounts in thousands)	Translation adjustment			Change in fair value of cash flow hedge			Unrealized gain on marketable securities			Net pension amortization and net actuarial loss			Accumulated other comprehensive loss
Balance at April 25, 2015	$	1,517		$	(560	)	$	1,605		$	(34,701	)	$	(32,139	)
Changes before reclassifications	(2,488		)	(1,055		)	(341		)	—			(3,884		)
Amounts reclassified to net income	—			1,112			(165		)	1,577			2,524
Tax effect	—			(22		)	193			(601		)	(430		)

Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(2,488		)	35			(313		)	976			(1,790		)

Balance at October 24, 2015	$	(971	)	$	(525	)	$	1,292		$	(33,725	)	$	(33,929	)

Components of non-controlling interest

	Quarter Ended						Six Months Ended
(Unaudited, amounts in thousands)	10/29/16			10/24/15			10/29/16			10/24/15
Balance as of the beginning of the period	$	10,244		$	8,770		$	10,070		$	8,954
Net income	272			707			474			1,154
Other comprehensive loss	(73		)	(159		)	(101		)	(790		)

Balance as of the end of the period	$	10,443		$	9,318		$	10,443		$	9,318

Segment Information (Tables)

6 Months Ended

Oct. 29, 2016

Segment Information

Schedule of segment information

	Quarter Ended						Six Months Ended
(Unaudited, amounts in thousands)	10/29/16			10/24/15			10/29/16			10/24/15
Sales
Upholstery segment:
Sales to external customers	$	244,898		$	260,080		$	468,707		$	492,564
Intersegment sales	50,891			45,737			94,498			85,929

Upholstery segment sales	295,789			305,817			563,205			578,493


Casegoods segment:
Sales to external customers	23,567			25,787			44,152			46,989
Intersegment sales	2,321			2,432			6,774			4,623

Casegoods segment sales	25,888			28,219			50,926			51,612


Retail segment sales	107,365			96,480			203,085			183,131

Corporate and Other:
Sales to external customers	749			544			1,418			1,630
Intersegment sales	1,563			750			2,773			1,266

Corporate and Other sales	2,312			1,294			4,191			2,896


Eliminations	(54,775		)	(48,919		)	(104,045		)	(91,818		)

Consolidated sales	$	376,579		$	382,891		$	717,362		$	724,314


Operating Income (Loss)
Upholstery segment	$	37,530		$	37,040		$	67,339		$	61,634
Casegoods segment	2,847			2,634			4,994			4,324
Retail segment	3,007			5,716			5,190			10,445
Corporate and Other	(10,216		)	(11,996		)	(22,587		)	(23,043		)

Consolidated operating income	33,168			33,394			54,936			53,360
Interest expense	117			133			232			245
Interest income	234			164			438			369
Other income (expense), net	(279		)	512			(351		)	2,480

Income before income taxes	$	33,006		$	33,937		$	54,791		$	55,964

Earnings per Share (Tables)

6 Months Ended

Oct. 29, 2016

Earnings per Share

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

	Quarter Ended						Six Months Ended
(Unaudited, amounts in thousands)	10/29/16			10/24/15			10/29/16			10/24/15
Numerator (basic and diluted):
Net income attributable to La-Z-Boy Incorporated	$	20,833		$	20,952		$	34,639		$	34,628
Income allocated to participating securities	(103		)	(107		)	(172		)	(185		)

Net income available to common shareholders	$	20,730		$	20,845		$	34,467		$	34,443


Denominator:
Basic weighted average common shares outstanding	49,153			50,493			49,129			50,538
Add:
Contingent common shares	100			178			100			178
Stock option dilution	258			368			325			360

Diluted weighted average common shares outstanding	49,511			51,039			49,554			51,076

Fair Value Measurements (Tables)

6 Months Ended

Oct. 29, 2016

Fair Value Measurements

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

At October 29, 2016	Fair Value Measurements
(Unaudited, amounts in thousands)	Level 1(a)		Level 2(a)		Level 3(b)
Assets
Available-for-sale investments	$	1,003	$	33,908	$	750
Trading securities	—		434		—
Held-to-maturity investments	1,816		—		—
Cost basis investment	—		—		5,500

Total assets	$	2,819	$	34,342	$	6,250


Liabilities
Contingent consideration liability	$	—	$	—	$	2,755

(a)

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

(b)

There were no transfers into or out of Level 3 during fiscal 2017.

At April 30, 2016	Fair Value Measurements
(Unaudited, amounts in thousands)	Level 1(c)		Level 2(c)		Level 3(d)
Assets
Available-for-sale investments	$	1,177	$	36,802	$	—
Held-to-maturity investments	1,826		—		—

Total	$	3,003	$	36,802	$	—

(c)

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

(d)

There were no transfers into or out of Level 3 during fiscal 2016.

Reconciliation of Level 3 assets recorded at fair value using significant unobservable inputs

(Unaudited, amounts in thousands)	Level 3
Assets
Balance at April 30, 2016	$	—
Purchases	6,250

Balance at October 29, 2016	$	6,250

Reconciliation of Level 3 liabilities recorded at fair value using significant unobservable inputs

(Unaudited, amounts in thousands)	Level 3
Liabilities
Balance at April 30, 2016	$	—
Acquisitions	2,825
Translation adjustment	(70		)

Balance at October 29, 2016	$	2,755

Basis of Presentation (Details)	3 Months Ended		6 Months Ended		12 Months Ended
Basis of Presentation (Details)	Oct. 29, 2016	Oct. 24, 2015	Oct. 29, 2016	Oct. 24, 2015	Apr. 29, 2017	Apr. 30, 2016
Basis of Presentation
Length of fiscal year					364 days	371 days
Improvement in gross margin due to legal settlement (as a percent)	0.10%	0.50%	0.40%	0.50%

Acquisitions (Details) $ in Thousands	3 Months Ended		6 Months Ended
Acquisitions (Details) $ in Thousands	Oct. 29, 2016 USD ($) store Counterparty	Jul. 30, 2016 USD ($) store	Oct. 29, 2016 USD ($) store	Apr. 30, 2016 USD ($)
Acquisitions
Goodwill	$ 47,388		$ 47,388	$ 37,193
Independent dealer assets acquired in fiscal 2017
Acquisitions
Settlement gain or loss			0
Goodwill	10,200		10,200
Fair values at the dates of acquisition
Current assets	7,721		7,721
Goodwill and other intangible assets	13,374		13,374
Property, plant and equipment, net	648		648
Total assets acquired	21,743		21,743
Current liabilities	(1,731)		(1,731)
Contingent consideration liability	(2,825)		(2,825)
Total liabilities acquired	(4,556)		(4,556)
Net assets acquired	17,187		17,187
Independent dealer assets acquired in fiscal 2017 \| Reacquired rights
Acquisitions
Indefinite-lived intangible asset	$ 3,200		$ 3,200
Independent dealer assets acquired in fiscal 2017, second quarter
Acquisitions
Number of dealers whose assets were acquired \| Counterparty	2
Number of stores \| store	4		4
Total purchase price	$ 11,900
Cash paid	10,700
Forgiveness of accounts receivable	$ 1,200
Future performance period used to determine contingent consideration liability	3 years
Fair values at the dates of acquisition
Contingent consideration liability	$ (2,800)		$ (2,800)
Independent dealer assets acquired in fiscal 2017, first quarter
Acquisitions
Number of stores \| store		1
Total purchase price		$ 5,300

Inventories (Details) - USD ($) $ in Thousands	Oct. 29, 2016	Apr. 30, 2016
Inventories
Raw materials	$ 89,326	$ 87,905
Work in process	10,741	11,591
Finished goods	108,411	97,861
FIFO inventories	208,478	197,357
Excess of FIFO over LIFO	(21,768)	(21,768)
Inventories, net	$ 186,710	$ 175,589

Investments - Components (Details) - USD ($) $ in Thousands	Oct. 29, 2016	Apr. 30, 2016
Investments
Total investments	$ 51,018	$ 46,976
Investments to enhance returns on cash
Investments
Total investments	31,179	33,583
Investments to fund compensation/retirement plans
Investments
Total investments	13,589	13,393
Other investments
Investments
Total investments	6,250
Other current assets
Investments
Available-for-sale investments	13,615	13,491
Trading securities	434
Held-to-maturity investments	1,815	1,826
Total investments	15,864	15,317
Other long-term assets
Investments
Available-for-sale investments	29,654	31,659
Cost basis investment	5,500
Total investments	$ 35,154	$ 31,659

Investments - Unrealized Gains and Losses and Fair Value (Details) - USD ($) $ in Thousands	Oct. 29, 2016	Apr. 30, 2016
Summary of investments
Gross Unrealized Gains	$ 1,511	$ 1,408
Gross Unrealized Losses	(177)	(165)
Fair Value	51,018	46,976
Equity securities
Summary of investments
Gross Unrealized Gains	1,400	1,231
Gross Unrealized Losses	(126)	(135)
Fair Value	13,837	8,150
Fixed income
Summary of investments
Gross Unrealized Gains	110	176
Gross Unrealized Losses	(39)	(9)
Fair Value	34,293	36,527
Mutual funds
Summary of investments
Fair Value	434
Other
Summary of investments
Gross Unrealized Gains	1	1
Gross Unrealized Losses	(12)	(21)
Fair Value	$ 2,454	$ 2,299

- Definition

Fair value portion of investment securities, including, but not limited to, marketable securities, derivative financial instruments, and investments accounted for under the equity method.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(12))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Trading Securities
-URI http://asc.fasb.org/extlink&oid=6526789

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(5))
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(6))
-URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 35
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=27723805&loc=d3e24584-111560

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(2))
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-SubTopic 10
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=65884222&loc=d3e22054-111558

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(1))
-URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Available-for-Sale Securities
-URI http://asc.fasb.org/extlink&oid=6505594

+ Details

Investments - Sales and Maturities (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 29, 2016	Oct. 24, 2015	Oct. 29, 2016	Oct. 24, 2015
Sales of available-for-sale securities
Proceeds from sales	$ 6,087	$ 6,426	$ 9,757	$ 19,409
Gross realized gains	16	26	47	703
Gross realized losses	(2)	$ (33)	(38)	$ (539)
Fair value of available-for-sale securities by contractual maturity
Fair value, available-for-sale securities with contractual maturity within one year	13,900		13,900
Fair value, available-for-sale securities with contractual maturity within two to five years	18,900		18,900
Fair value, available-for-sale securities with contractual maturity within six to ten years	1,200		1,200
Fair value, available-for-sale securities with contractual maturity after ten years	$ 300		$ 300

Pension Plans (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pension Plans (Details) - USD ($) $ in Thousands	Oct. 29, 2016	Oct. 24, 2015	Oct. 29, 2016	Oct. 24, 2015
Net periodic pension costs
Service cost	$ 319	$ 333	$ 638	$ 666
Interest cost	1,170	1,211	2,340	2,422
Expected return on plan assets	(1,245)	(1,226)	(2,490)	(2,452)
Net amortization	764	736	1,528	1,472
Net periodic pension cost	$ 1,008	$ 1,054	$ 2,016	$ 2,108

Product Warranties (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Product Warranties (Details) - USD ($) $ in Thousands	Oct. 29, 2016	Oct. 24, 2015	Oct. 29, 2016	Oct. 24, 2015	Apr. 30, 2016
Reconciliation of changes in product warranty liability
Balance as of the beginning of the period	$ 20,908	$ 17,230	$ 20,511	$ 16,870
Accruals during the period	4,719	5,651	9,854	10,762
Settlements during the period	(4,725)	(4,820)	(9,463)	(9,571)
Balance as of the end of the period	20,902	$ 18,061	20,902	$ 18,061
Product warranty liability included in accrued expenses and other current liabilities	$ 13,000		$ 13,000		$ 12,400
Upholstery Segment
Product Warranties
Percentage of warranty liability relating to the segment			95.00%
Fabric and leather
Product Warranties
Warranty term			1 year
Cushions and padding \| Minimum
Product Warranties
Warranty term			1 year
Cushions and padding \| Maximum
Product Warranties
Warranty term			10 years
Labor costs relating to parts
Product Warranties
Warranty term			1 year

Stock-Based Compensation - Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 29, 2016	Oct. 24, 2015	Oct. 29, 2016	Oct. 24, 2015
Stock-based compensation expense recognized for outstanding grants
Equity-based awards expense	$ 2,551	$ 2,111	$ 5,880	$ 5,123
Liability-based awards (income) expense	(1,229)	1,507	270	1,068
Total stock-based compensation expense	$ 1,322	$ 3,618	$ 6,150	$ 6,191

Stock-Based Compensation - Stock Options (Details) - Stock Options - $ / shares	3 Months Ended	6 Months Ended
	Jul. 30, 2016	Oct. 29, 2016
Stock-Based Compensation
Shares granted (in shares)	497,198
Fair value assumptions
Risk-free interest rate (as a percent)	1.30%
Dividend rate (as a percent)	1.54%
Expected life in years	5 years
Stock price volatility (as a percent)	38.87%
Fair value per share (in dollars per share)	$ 7.99
Minimum
Stock-Based Compensation
Vesting period		1 year
Maximum
Stock-Based Compensation
Vesting period		4 years

Stock-Based Compensation - SARs (Details) - Stock Appreciation Rights	6 Months Ended
	Oct. 29, 2016 $ / shares
Stock-Based Compensation
Percentage vesting each year from date of grant	25.00%
Period from grant date for first vesting	1 year
Vesting period	4 years
Fiscal 2014 Grant
Fair value assumptions
Risk-free interest rate (as a percent)	0.77%
Dividend rate (as a percent)	1.72%
Expected life in years	1 year 7 months 17 days
Stock price volatility (as a percent)	31.85%
Fair value per share (in dollars per share)	$ 5.56
Fiscal 2013 Grant
Fair value assumptions
Risk-free interest rate (as a percent)	0.59%
Dividend rate (as a percent)	1.72%
Expected life in years	8 months 16 days
Stock price volatility (as a percent)	31.28%
Fair value per share (in dollars per share)	$ 11.06

Stock-Based Compensation - Restricted Stock and RSUs (Details) - $ / shares	3 Months Ended		6 Months Ended
	Oct. 29, 2016	Jul. 30, 2016	Oct. 29, 2016
Restricted Stock
Stock-Based Compensation
Granted (in shares)		97,924
Granted (in dollars per share/unit)		$ 25.99
Percentage vesting each year from date of grant			25.00%
Period from grant date for first vesting			1 year
Vesting period			4 years
Restricted Stock Units \| Employees
Stock-Based Compensation
Fair value (in dollars per unit)	$ 23.25		$ 23.25
Award common share equivalent (in shares)	1		1
Percentage vesting each year from date of grant			25.00%
Period from grant date for first vesting			1 year
Vesting period			4 years
Restricted Stock Units \| Non-Employee Directors
Stock-Based Compensation
Granted (in shares)	23,624
Granted (in dollars per share/unit)	$ 27.10

Stock-Based Compensation - Performance Awards (Details) - $ / shares	3 Months Ended	6 Months Ended
	Jul. 30, 2016	Oct. 29, 2016
Performance Awards
Stock-Based Compensation
Percentage of payout dependent on financial performance		80.00%
Percentage of payout dependent on total shareholder return		20.00%
Performance awards, performance period		3 years
Performance Awards \| Minimum
Stock-Based Compensation
Performance award opportunity as a percentage of target award		50.00%
Performance Awards \| Maximum
Stock-Based Compensation
Performance award opportunity as a percentage of target award		200.00%
Performance-Based Shares
Stock-Based Compensation
Number of shares or units granted	180,359
Performance-Based Shares, vesting based on performance goals \| Fiscal 2017 Grant
Stock-Based Compensation
Fair value on date of grant (in dollars per share)	$ 24.79
Performance Based Shares, vesting based on market conditions \| Fiscal 2017 Grant
Stock-Based Compensation
Fair value on date of grant (in dollars per share)	$ 33.32

Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 29, 2016	Oct. 24, 2015	Oct. 29, 2016	Oct. 24, 2015
Activity in accumulated other comprehensive loss
Balance			$ 547,142
Balance	$ 561,734		561,734
Components of non-controlling interest
Balance as of the beginning of the period	10,244	$ 8,770	10,070	$ 8,954
Net income	272	707	474	1,154
Other comprehensive loss	(73)	(159)	(101)	(790)
Balance as of the end of the period	10,443	9,318	10,443	9,318
Accumulated Other Comprehensive Loss
Activity in accumulated other comprehensive loss
Balance	(33,801)	(34,339)	(34,000)	(32,139)
Changes before reclassifications	(614)	(608)	(1,607)	(3,884)
Amounts reclassified to net income	1,233	1,439	2,572	2,524
Tax effect	(308)	(421)	(455)	(430)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	311	410	510	(1,790)
Balance	(33,490)	(33,929)	(33,490)	(33,929)
Translation adjustment
Activity in accumulated other comprehensive loss
Balance	(485)	(697)	(445)	1,517
Changes before reclassifications	(188)	(274)	(228)	(2,488)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(188)	(274)	(228)	(2,488)
Balance	(673)	(971)	(673)	(971)
Change in fair value of cash flow hedge
Activity in accumulated other comprehensive loss
Balance	(761)	(757)	(286)	(560)
Changes before reclassifications	(200)	(269)	(1,479)	(1,055)
Amounts reclassified to net income	424	645	936	1,112
Tax effect	(85)	(144)	207	(22)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	139	232	(336)	35
Balance	(622)	(525)	(622)	(525)
Unrealized gain on marketable securities
Activity in accumulated other comprehensive loss
Balance	1,263	1,328	1,058	1,605
Changes before reclassifications	(226)	(65)	100	(341)
Amounts reclassified to net income	(14)	6	(9)	(165)
Tax effect	91	23	(35)	193
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	(149)	(36)	56	(313)
Balance	1,114	1,292	1,114	1,292
Net pension amortization and net actuarial loss
Activity in accumulated other comprehensive loss
Balance	(33,818)	(34,213)	(34,327)	(34,701)
Amounts reclassified to net income	823	788	1,645	1,577
Tax effect	(314)	(300)	(627)	(601)
Other comprehensive income (loss) attributable to La-Z-Boy Incorporated	509	488	1,018	976
Balance	$ (33,309)	$ (33,725)	$ (33,309)	$ (33,725)

Segment Information (Details)	6 Months Ended
Segment Information (Details)	Oct. 29, 2016 store segment item
Upholstery Segment
Segment Information
Number of operating units \| segment	2
Casegoods Segment
Segment Information
Number of brands \| item	3
Retail Segment
Segment Information
Number of stores \| store	132

Segment Information - Income Statement Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 29, 2016	Oct. 24, 2015	Oct. 29, 2016	Oct. 24, 2015
Segment Information
Sales	$ 376,579	$ 382,891	$ 717,362	$ 724,314
Operating Income (Loss)	33,168	33,394	54,936	53,360
Interest expense	117	133	232	245
Interest income	234	164	438	369
Other income (expense), net	(279)	512	(351)	2,480
Income before income taxes	33,006	33,937	54,791	55,964
Upholstery Segment
Segment Information
Sales	244,898	260,080	468,707	492,564
Casegoods Segment
Segment Information
Sales	23,567	25,787	44,152	46,989
Retail Segment
Segment Information
Sales	107,365	96,480	203,085	183,131
Corporate and Other, non-segment
Segment Information
Sales	749	544	1,418	1,630
Operating Segments \| Upholstery Segment
Segment Information
Sales	295,789	305,817	563,205	578,493
Operating Income (Loss)	37,530	37,040	67,339	61,634
Operating Segments \| Casegoods Segment
Segment Information
Sales	25,888	28,219	50,926	51,612
Operating Income (Loss)	2,847	2,634	4,994	4,324
Operating Segments \| Retail Segment
Segment Information
Operating Income (Loss)	3,007	5,716	5,190	10,445
Corporate and Other
Segment Information
Operating Income (Loss)	(10,216)	(11,996)	(22,587)	(23,043)
Corporate and Other \| Corporate and Other, non-segment
Segment Information
Sales	2,312	1,294	4,191	2,896
Eliminations
Segment Information
Sales	(54,775)	(48,919)	(104,045)	(91,818)
Eliminations \| Upholstery Segment
Segment Information
Sales	(50,891)	(45,737)	(94,498)	(85,929)
Eliminations \| Casegoods Segment
Segment Information
Sales	(2,321)	(2,432)	(6,774)	(4,623)
Eliminations \| Corporate and Other, non-segment
Segment Information
Sales	$ (1,563)	$ (750)	$ (2,773)	$ (1,266)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Oct. 29, 2016	Oct. 24, 2015	Oct. 29, 2016	Oct. 24, 2015
Income Taxes
Effective tax rate (as a percent)	36.10%	36.20%	35.90%	36.10%
Statutory tax rate (as a percent)	35.00%
Net liability for uncertain income tax positions	$ 0.8		$ 0.8

Earnings per Share - Reconciliation (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 29, 2016	Oct. 24, 2015	Oct. 29, 2016	Oct. 24, 2015
Numerator (basic and diluted):
Net income attributable to La-Z-Boy Incorporated	$ 20,833	$ 20,952	$ 34,639	$ 34,628
Income allocated to participating securities, basic	(103)	(107)	(172)	(185)
Income allocated to participating securities, diluted	(103)	(107)	(172)	(185)
Net income available to common shareholders, basic	20,730	20,845	34,467	34,443
Net income available to common shareholders, diluted	$ 20,730	$ 20,845	$ 34,467	$ 34,443
Denominator
Basic weighted average common shares outstanding (in shares)	49,153	50,493	49,129	50,538
Add:
Contingent common shares (in shares)	100	178	100	178
Stock option dilution (in shares)	258	368	325	360
Diluted weighted average common shares outstanding (in shares)	49,511	51,039	49,554	51,076

Earnings per Share - Antidilutive Securities (Details) - Outstanding options shares in Millions	3 Months Ended
	Oct. 29, 2016 $ / shares shares
Anti-dilutive options
Outstanding options excluded from diluted share calculation (in shares) \| shares	0.4
Weighted average exercise price of options excluded from diluted share calculation (in dollars per share) \| $ / shares	$ 26.69

Fair Value Measurements - Hierarchy and Transfers (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Oct. 29, 2016	Apr. 30, 2016
Assets
Total investments	$ 51,018	$ 46,976
Liabilities
Transfers from Level 1 to Level 2 assets	0	0
Transfers from Level 2 to Level 1 assets	0	0
Transfers into Level 3 assets	0	0
Transfers out of Level 3 assets	0	0
Transfers into Level 3 liabilities	0	0
Transfers out of Level 3 liabilities	0	0
Level 1 \| Recurring basis
Assets
Total investments	2,819	3,003
Level 1 \| Recurring basis \| Available-for-sale investments
Assets
Total investments	1,003	1,177
Level 1 \| Recurring basis \| Held-to-maturity investments
Assets
Total investments	1,816	1,826
Level 2 \| Recurring basis
Assets
Total investments	34,342	36,802
Level 2 \| Recurring basis \| Available-for-sale investments
Assets
Total investments	33,908	$ 36,802
Level 2 \| Recurring basis \| Trading securities
Assets
Total investments	434
Level 3 \| Recurring basis
Assets
Total investments	6,250
Liabilities
Contingent consideration liability	2,755
Level 3 \| Recurring basis \| Available-for-sale investments
Assets
Total investments	750
Level 3 \| Recurring basis \| Cost basis investment
Assets
Total investments	$ 5,500

Fair Value Measurements - Level 3 Reconciliation (Details) - USD ($) $ in Thousands	6 Months Ended
	Oct. 29, 2016	Apr. 30, 2016
Reconciliation of Level 3 assets recorded at fair value using significant unobservable inputs
Purchases	$ 6,250
Balance at end of period	6,250
Reconciliation of Level 3 liabilities recorded at fair value using significant unobservable inputs
Acquisitions	2,825
Translation adjustment	(70)
Balance at end of period	2,755
Available-for-sale investments
Investments not included in the fair value hierarchy
Fair value of investments measured using net asset value	$ 7,600	$ 7,200