LA-Z-BOY INCLZB

LA-Z-BOY INC Revenue Disclosure

10-KFiled Jun 16, 20262 min read
Note 16: Revenue Recognition
The following table presents our revenue disaggregated by product category and by segment or unit:
Year Ended April 25, 2026
(Amounts in thousands)WholesaleRetailCorporate
and Other		Total
Upholstered Furniture$1,149,011 $775,345 $110,739 $2,035,095 
Casegoods Furniture67,010 51,159 6,668 124,837 
Delivery158,895 31,154 8,297 198,346 
Other (1)
107,296 93,029 18,046 218,371 
Total$1,482,212 $950,687 $143,750 $2,576,649 
Eliminations(450,014)
Consolidated Net Sales$2,126,635 
Year Ended April 26, 2025
(Amounts in thousands)WholesaleRetailCorporate
and Other		Total
Upholstered Furniture$1,171,445 $731,254 $121,972 $2,024,671 
Casegoods Furniture72,041 50,635 9,191 131,867 
Delivery166,244 33,502 8,403 208,149 
Other (1)
70,089 82,979 20,909 173,977 
Total$1,479,819 $898,370 $160,475 $2,538,664 
Eliminations(429,457)
Consolidated Net Sales$2,109,207 
(1)Primarily includes tariff and other surcharges, revenue for advertising, royalties, parts, accessories, after-treatment products, surcharges, rebates and other sales incentives.

Upholstered Furniture - Includes revenue for upholstered furniture, such as recliners, sofas, loveseats, chairs, sectionals, modulars, and ottomans. This revenue includes sales to La-Z-Boy Stores (including company-owned stores), operators of La-Z-Boy Comfort Studio® and branded space locations, England Custom Comfort Center locations, other major dealers, independent retailers, and the end consumer.
Casegoods Furniture - Includes revenue for casegoods furniture typically found in a bedroom, such as beds, chests, dressers, nightstands and benches; furniture typically found in the dining room, such as dining tables, storage units, and stools; and furniture typically found throughout the home, such as cocktail tables, chairsides, sofa tables, end tables, and entertainment centers. This revenue includes sales to La-Z-Boy Stores (including company-owned stores), independent retailers, and the end consumer.
Contract Assets and Liabilities. We receive customer deposits from end consumers before we recognize revenue and in some cases we have the unconditional right to collect the remaining portion of the order price before we fulfill our performance obligation, resulting in a contract asset and a corresponding deferred revenue liability. In our consolidated balance sheet, customer deposits and deferred revenue (collectively, the "contract liabilities") are reported in accrued expenses and other current liabilities while contract assets are reported as other current assets.
The following table presents our contract assets and liabilities:
(Unaudited, amounts in thousands)4/25/20264/26/2025
Contract assets $34,907 $32,580 
Customer deposits$77,907 $72,894 
Deferred revenue34,907 32,580 
Total contract liabilities (1)
$112,814 $105,474 
(1)During the year ended April 25, 2026, we recognized revenue of $101.1 million related to our contract liability balance at April 26, 2025.
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Historical Timeline

Fiscal YearFiled
2026Jun 16, 2026Showing above
2025Jun 17, 2025
2024Jun 17, 2024
2023Jun 20, 2023
2022Jun 21, 2022
2021Jun 15, 2021
2020Jun 23, 2020
2019Jun 18, 2019

About Revenue Disclosures

Revenue disclosures under ASC 606 explain how a company identifies performance obligations, allocates transaction prices, and determines when revenue is recognized. This section is essential for understanding whether reported revenue reflects genuine economic activity or aggressive accounting choices. Analysts examine the mix of point-in-time versus over-time recognition, which directly affects revenue timing and comparability.

Key signals: rising contract liabilities (deferred revenue) suggest strong future revenue visibility, while declining contract assets may indicate slowing project milestones. Watch for variable consideration estimates — rebates, returns, and performance bonuses that require management judgment. Significant changes in disaggregated revenue by geography or product line can reveal shifting business mix before it appears in headline numbers. Compare revenue growth against contract liability growth to assess sustainability, and scrutinize any changes in the timing of recognition that coincide with earnings pressure.

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