Goodwill and Other Intangible Assets

3 Months Ended

Jul. 25, 2026

Intangible Asset, Goodwill and Other [Abstract]

Goodwill and Other Intangible Assets

Note 5: Goodwill and Other Intangible Assets

We have goodwill on our consolidated balance sheet as follows:

Reportable Segment/Unit

Reporting Unit

Related Acquisition

Retail Segment

Retail

Independent La-Z-Boy Stores

Corporate and Other

Joybird

The following table summarizes changes in the carrying amount of our goodwill by reportable segment:


(Unaudited, amounts in thousands)	Wholesale Segment		Retail Segment		Corporate and Other		Total Goodwill
Balance at April 25, 2026 (1)	$	—	$	207,821	$	35,479	$	243,300

Translation adjustment	—		(104)		—		(104)
Balance at July 25, 2026 (1)	$	—	$	207,717	$	35,479	$	243,196

(1)Includes $46.9 million and $20.6 million of accumulated impairment losses in Corporate and Other and the Wholesale segment, respectively.

We have intangible assets on our consolidated balance sheet as follows:

Reportable Segment

Intangible Asset

Useful Life

Retail Segment

Reacquired rights to own and operate La-Z-Boy Stores

Indefinite-lived

Corporate and Other

Joybird® trade name (1)

Amortizable over eight-year useful life

(1)Fully amortized as of July 25, 2026.

The following summarizes changes in our intangible assets:


(Unaudited, amounts in thousands)	Finite-Lived Trade Name		Indefinite- Lived Reacquired Rights		Total Intangible Assets
Balance at April 25, 2026	$	200	$	77,382	$	77,582
Acquisitions	—		4,806		4,806
Amortization	(200)		—		(200)
Translation adjustment	—		(78)		(78)
Balance at July 25, 2026	$	—	$	82,110	$	82,110

We test indefinite-lived intangibles and goodwill for impairment on an annual basis in the fourth quarter of each fiscal year, and more frequently if events or changes in circumstances indicate that an asset might be impaired. When we perform the quantitative test for goodwill, we establish the fair value for the reporting unit based on the income approach, in which we utilize a discounted cash flow model, the market approach, in which we utilize market multiples of comparable companies, or a combination of both approaches. The income approach requires the use of significant estimates and assumptions including forecasted sales growth, operating income projections, and discount rates and changes in these assumptions may materially impact our fair value assessment.

We test amortizable intangible assets for impairment if events or changes in circumstances indicate that the assets might be impaired.