Leases

12 Months Ended

Apr. 27, 2024

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 27, 2024 and April 29, 2023 were $38,497 and $35,640, respectively, which include variable lease costs and short-term lease costs, which were immaterial.

The following table presents future maturities of lease liabilities:

2025	$	38,047
2026	30,763
2027	25,216
2028	18,914
2029	8,919
After 2029	26,067
Total lease payments	147,926
Less: imputed interest	(22,647)
Present value of lease liabilities	$	125,279

The following tables present other supplemental information related to leases:

	Fiscal Year Ended
	April 27, 2024			April 29, 2023
Cash paid for amounts included in the measurement of operating lease liabilities	$	39,803		$	35,779
Lease assets obtained in exchange for new operating lease liabilities	$	83,041		$	56,603
	April 27, 2024			April 29, 2023
Weighted-average remaining lease term - operating leases	5.87 years			6.50 years
Weighted-average discount rate - operating leases	5.01		%	4.40		%