Quarterly Results (unaudited) (Tables)

12 Months Ended

Apr. 25, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly results are determined in accordance with the accounting policies used for annual data and include certain items based upon estimates for the entire year. All fiscal quarters presented include results for 13 weeks.


	Quarter Ended
	April 25, 2020⁽¹⁾		January 25, 2020		October 26, 2019⁽²⁾		July 27, 2019 ⁽³⁾
Net sales	$	1,286,461	$	1,456,155	$	1,418,744	$	1,328,651
Gross profit	294,032		311,830		301,494		290,054
Operating (loss) income	(614,463)		43,816		(18,146)		16,674


Net (loss) income	(608,797)		22,972		(33,349)		29,807
Net loss attributable to noncontrolling interests	(211)		(255)		(220)		(235)
Net (loss) income attributable to Patterson Companies, Inc.	$	(608,586)	$	23,227	$	(33,129)	$	30,042
(Loss) earnings per share attributable to Patterson Companies, Inc.:


Basic	$	(6.44)	$	0.25	$	(0.35)	$	0.32



Diluted	$	(6.44)	$	0.24	$	(0.35)	$	0.32


	Quarter Ended
	April 27, 2019		January 26, 2019		October 27, 2018		July 28, 2018 ⁽⁴⁾
Net sales	$	1,436,706	$	1,396,745	$	1,404,752	$	1,336,320
Gross profit	312,527		299,509		295,076		283,663
Operating (loss) income	46,623		45,363		41,216		4,514


Net (loss) income	27,685		31,054		28,646		(4,509)
Net loss attributable to noncontrolling interests	(305)		(171)		(223)		(53)
Net (loss) income attributable to Patterson Companies, Inc.	$	27,990	$	31,225	$	28,869	$	(4,456)
(Loss) earnings per share attributable to Patterson Companies, Inc.:


Basic	$	0.30	$	0.34	$	0.31	$	(0.05)



Diluted	$	0.30	$	0.33	$	0.31	$	(0.05)

(1)In the fourth quarter of fiscal 2020, we recorded goodwill impairment charges totaling $675,055 in our Animal Health segment. See Note 1 for additional information. In addition, the COVID-19 virus had a significant impact on our businesses in the fourth quarter of fiscal 2020. Through March 2020, sales in our Dental and Animal Health segments were up year over year. In April 2020, our Dental segment sales were

down approximately 71% and our Animal Health segment sales were down approximately 9%, as compared to April 2019. In addition, operating expenses were also down significantly in April 2020 as certain variable expenses decreased with sales.

(2)We incurred costs and expenses of $58,300 during the second quarter of fiscal 2020 related to the then-probable settlement of an investigation by the U.S. Attorney's Office for the Western District of Virginia. See Note 16 for additional information.

(3)We recorded a pre-tax gain of $34,334 related to one of our investments during the first quarter of fiscal 2020. This gain was based on the selling price of preferred stock in this investment that is similar to the preferred stock we own, and was adjusted for differences in liquidation preferences. In addition, we incurred expenses of $17,666 during the first quarter of fiscal 2020 related to the settlement of litigation with SourceOne Dental, Inc.

(4)In the first quarter of fiscal 2019, we recorded a pre-tax charge of $28,263 related to a litigation settlement.