Leases

12 Months Ended

Apr. 29, 2023

Commitments and Contingencies Disclosure [Abstract]

Leases

Leases

We lease certain warehouses, office space, vehicles and equipment. Leases with an initial term of 12 months or less are not recorded on the consolidated balance sheets. We recognize lease expense for these leases on a straight-line basis over the lease term. We do not separate lease and non-lease components, and instead account for each lease and non-lease component associated with that lease as a single lease component. Some leases include one or more options to renew. The exercise of renewal options is at our sole discretion. Our lease agreements do not contain significant residual value guarantees, restrictions or covenants.

Total lease costs for the fiscal year ended April 29, 2023 and April 30, 2022 were $35,640 and $35,646, respectively, which include variable lease costs and short-term lease costs, which were immaterial.

The following table presents future maturities of lease liabilities:

2024	$	31,482
2025	22,694
2026	15,337
2027	10,943
2028	5,903
After 2028	28,522
Total lease payments	114,881
Less: imputed interest	(19,115)
Present value of lease liabilities	$	95,766

The following tables present other supplemental information related to leases:

	Fiscal Year Ended
	April 29, 2023			April 30, 2022
Cash paid for amounts included in the measurement of operating lease liabilities	$	35,779		$	38,192
Lease assets obtained in exchange for new operating lease liabilities	$	56,603		$	31,132
	April 29, 2023			April 30, 2022
Weighted-average remaining lease term - operating leases	6.50 years			2.98 years
Weighted-average discount rate - operating leases	4.40		%	3.10		%