Note 6: Goodwill and Other Intangible Assets

We test goodwill annually for impairment. We have goodwill on our consolidated balance sheet as follows:

Reportable Segment	Related Acquisition	Fiscal 2019 impairment testing approach
Upholstery Segment	Acquisition of the wholesale business in the United Kingdom and Ireland	Qualitative
Retail Segment	Acquisitions of La-Z-Boy Furniture Galleries® stores	Quantitative
Corporate & Other	Acquisition of Joybird	Quantitative

We used a qualitative approach for our Upholstery segment goodwill impairment test in fiscal 2019 due to the relative fair value of our reporting unit significantly exceeding the carrying value of the goodwill, as well as the operating performance of that respective reporting unit.

We used a quantitative simplified one-step approach for our Retail segment goodwill impairment test in fiscal 2019, primarily due to the acquisitions of additional La-Z-Boy Furniture Galleries® stores and the resulting $32.0 million increase in goodwill recorded in that segment during the year. We applied the income approach using discounted future cash flows to estimate the fair value of this reporting unit. The key assumptions used in the quantitative assessment of our Retail segment goodwill at April 27, 2019, were a discount rate of 8.4%, a tax rate of 24.0% and a terminal growth rate of 2.0%. The relative fair value of our Retail reporting unit significantly exceeded the carrying value of our goodwill as of April 27, 2019.

We used a quantitative simplified one-step approach for our Corporate & Other goodwill impairment test in fiscal 2019, primarily because the acquisition of Joybird occurred during the year. We applied the income approach using discounted future cash flows to estimate the fair value of our Joybird reporting unit. Estimating future cash flows requires management to make significant assumptions and to apply judgment to project future sales based on estimated short and long-term growth rates and estimates of future operating margins. Significant judgment is also involved in selecting the appropriate discount rate to be applied to the projected future cash flows. The discount rate used in the quantitative assessment of our Corporate & Other goodwill in fiscal 2019 was the calculated weighted-average cost of capital for the Joybird reporting unit, which we estimated to be 25.0%. Changes in these assumptions may affect our fair value estimates and the result of impairment tests in future periods. Additional assumptions used in estimating the fair value were a tax rate of 24.9% and a terminal growth rate of 2.0%. There was no significant difference between the relative fair value of our Joybird reporting unit and the carrying value of our goodwill as of April 27, 2019, which is to be expected given the short duration of time between the goodwill impairment testing date and the Joybird acquisition date.

We did not have any goodwill impairment in fiscal 2019, fiscal 2018, or fiscal 2017. The following is a roll-forward of goodwill for the fiscal years ended April 27, 2019, and April 28, 2018:


	Upholstery		Retail		Corporate		Total
(Amounts in thousands)	Segment		Segment		and Other		Goodwill
Balance at April 29, 2017	$	12,181	$	62,064	$	—	$	74,245
Translation adjustment		786		223		—		1,009
Balance at April 28, 2018		12,967		62,287		—		75,254
Acquisitions		—		31,987		79,616		111,603
Translation adjustment		(819)		(171)		—		(990)
Balance at April 27, 2019	$	12,148	$	94,103	$	79,616	$	185,867

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


Reportable Segment	Intangible Asset	Useful Life
Upholstery segment	Primarily acquired customer relationships from our acquisition of the wholesale business in the United Kingdom and Ireland	Amortizable over useful lives that do not exceed 15 years
Casegoods segment	American Drew® trade name	Indefinite-lived
Retail segment	Reacquired rights to own and operate La-Z-Boy Furniture Galleries® stores	Indefinite-lived
Corporate & Other	Joybird® trade name	Amortizable over eight-year useful life

The following is a roll-forward of our other intangible assets for the fiscal years ended April 27, 2019, and April 28, 2018:


	Indefinite-		Finite-		Indefinite-
	Lived		Lived		Lived		Amortizable		Other		Total Other
	Trade		Trade		Reacquired		Reacquired		Intangible		Intangible
(Amounts in thousands)	Names		Names		Rights		Rights		Assets		Assets
Balance at April 29, 2017	$	1,155	$	—	$	13,223	$	524	$	3,587	$	18,489
Acquisitions		—		—		255		—		—		255
Amortization		—		—		—		(542)		(417)		(959)
Translation adjustment		—		—		167		18		220		405
Balance at April 28, 2018		1,155		—		13,645		—		3,390		18,190
Acquisitions		—		6,400		6,600		—		—		13,000
Amortization		—		(599)		—		—		(346)		(945)
Translation adjustment		—		—		(128)		—		(210)		(338)
Balance at April 27, 2019	$	1,155	$	5,801	$	20,117	$	—	$	2,834	$	29,907