Patterson Companies (PDCO) 10-Q 2 Mar 22 2022 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Jan. 29, 2022	Feb. 23, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 29, 2022
Document Transition Report	false
Entity File Number	0-20572
Entity Registrant Name	PATTERSON COMPANIES, INC.
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	41-0886515
Entity Address, Address Line One	1031 Mendota Heights Road
Entity Address, City or Town	St. Paul
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55120
City Area Code	651
Local Phone Number	686-1600
Title of 12(b) Security	Common Stock, par value $.01
Trading Symbol	PDCO
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		97,622,000
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0000891024
Current Fiscal Year End Date	--04-30

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jan. 29, 2022	Apr. 24, 2021
Current assets:
Cash and cash equivalents	$ 165,044	$ 143,244
Receivables, net of allowance for doubtful accounts of $6,780 and $6,138	467,111	449,235
Inventory	868,728	736,778
Prepaid expenses and other current assets	289,548	286,672
Total current assets	1,790,431	1,615,929
Property and equipment, net	214,426	219,438
Operating lease right-of-use assets, net	71,817	77,217
Long-term receivables, net	153,433	223,970
Goodwill, net	140,670	139,932
Identifiable intangibles, net	262,955	279,644
Investments	138,471	105,522
Other non-current assets	91,293	89,859
Total assets	2,863,496	2,751,511
Current liabilities:
Accounts payable	715,544	609,264
Accrued payroll expense	101,320	118,425
Other accrued liabilities	149,816	175,975
Operating lease liabilities	30,417	32,252
Current maturities of long-term debt	0	100,750
Borrowings on revolving credit	135,000	53,000
Total current liabilities	1,132,097	1,089,666
Long-term debt	488,353	487,545
Non-current operating lease liabilities	43,513	48,318
Other non-current liabilities	155,355	161,311
Total liabilities	1,819,318	1,786,840
Stockholders’ equity:
Common stock, $0.01 par value: 600,000 shares authorized; 97,587 and 96,813 shares issued and outstanding	976	968
Additional paid-in capital	191,505	169,099
Accumulated other comprehensive loss	(67,552)	(62,592)
Retained earnings	918,311	855,741
Total Patterson Companies, Inc. stockholders' equity	1,043,240	963,216
Noncontrolling interests	938	1,455
Total stockholders’ equity	1,044,178	964,671
Total liabilities and stockholders’ equity	$ 2,863,496	$ 2,751,511

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jan. 29, 2022	Apr. 24, 2021
Statement of Financial Position [Abstract]
Accounts receivable, allowance for doubtful accounts	$ 6,780	$ 6,138
Common stock, par value, (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized	600,000,000	600,000,000
Common Stock, shares, issued	97,587,000	96,813,000
Common stock, shares outstanding	97,587,000	96,813,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 29, 2022	Jan. 23, 2021	Jan. 29, 2022	Jan. 23, 2021
Income Statement [Abstract]
Net sales	$ 1,596,596	$ 1,551,268	$ 4,860,633	$ 4,350,273
Cost of sales	1,259,985	1,226,727	3,919,785	3,451,548
Gross profit	336,611	324,541	940,848	898,725
Operating expenses	275,778	262,860	856,684	725,466
Operating income	60,833	61,681	84,164	173,259
Gains on investments	13,092	0	100,919	0
Other income (expense):
Other income, net	6,186	4,323	14,413	9,580
Interest expense	(4,879)	(5,532)	(15,595)	(18,604)
Income before taxes	75,232	60,472	183,901	164,235
Income tax expense	18,657	11,905	45,586	37,640
Net income	56,575	48,567	138,315	126,595
Net loss attributable to noncontrolling interests	(431)	(192)	(1,017)	(631)
Net income attributable to Patterson Companies, Inc.	$ 57,006	$ 48,759	$ 139,332	$ 127,226
Earnings per share attributable to Patterson Companies, Inc.:
Basic (in USD per share)	$ 0.58	$ 0.51	$ 1.43	$ 1.33
Diluted (in USD per share)	$ 0.58	$ 0.50	$ 1.42	$ 1.32
Weighted average shares:
Basic (in shares)	97,471	95,734	97,213	95,472
Diluted (in shares)	98,554	96,953	98,450	96,379
Dividends declared per common share (in USD per share)	$ 0.26	$ 0.26	$ 0.78	$ 0.78
Comprehensive income:
Net income (loss)	$ 56,575	$ 48,567	$ 138,315	$ 126,595
Foreign currency translation (loss) gain	(6,506)	11,790	(5,742)	27,706
Cash flow hedges, net of tax	261	261	782	782
Comprehensive income	$ 50,330	$ 60,618	$ 133,355	$ 155,083

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Loss	Retained Earnings	Unearned ESOP Shares	Non-controlling Interests
Beginning Balance at Apr. 25, 2020	$ 836,444	$ 959	$ 146,606	$ (97,039)	$ 799,652	$ (16,061)	$ 2,327
Beginning Balance (in shares) at Apr. 25, 2020		95,947,000
Foreign currency translation	12,589			12,589
Cash flow hedges	260			260
Net income (loss)	24,202				24,407		(205)
Dividends declared	(24,472)				(24,472)
Common stock issued and related tax benefits	(895)	$ 4	(899)
Common stock issued and related tax benefits (in shares)		309,000
Stock-based compensation	6,610		6,610
Ending Balance at Jul. 25, 2020	854,738	$ 963	152,317	(84,190)	799,587	(16,061)	2,122
Ending Balance (in shares) at Jul. 25, 2020		96,256,000
Beginning Balance at Apr. 25, 2020	836,444	$ 959	146,606	(97,039)	799,652	(16,061)	2,327
Beginning Balance (in shares) at Apr. 25, 2020		95,947,000
Foreign currency translation	27,706
Cash flow hedges	782
Net income (loss)	126,595
Ending Balance at Jan. 23, 2021	934,605	$ 966	164,317	(68,551)	852,238	(16,061)	1,696
Ending Balance (in shares) at Jan. 23, 2021		96,621,000
Beginning Balance at Jul. 25, 2020	854,738	$ 963	152,317	(84,190)	799,587	(16,061)	2,122
Beginning Balance (in shares) at Jul. 25, 2020		96,256,000
Foreign currency translation	3,327			3,327
Cash flow hedges	261			261
Net income (loss)	53,826				54,060		(234)
Dividends declared	(24,903)				(24,903)
Common stock issued and related tax benefits	1,211	$ 2	1,209
Common stock issued and related tax benefits (in shares)		240,000
Stock-based compensation	4,267		4,267
Ending Balance at Oct. 24, 2020	892,727	$ 965	157,793	(80,602)	828,744	(16,061)	1,888
Ending Balance (in shares) at Oct. 24, 2020		96,496,000
Foreign currency translation	11,790			11,790
Cash flow hedges	261			261
Net income (loss)	48,567				48,759		(192)
Dividends declared	(25,265)				(25,265)
Common stock issued and related tax benefits	1,506	$ 1	1,505
Common stock issued and related tax benefits (in shares)		125,000
Stock-based compensation	5,019		5,019
Ending Balance at Jan. 23, 2021	934,605	$ 966	164,317	(68,551)	852,238	(16,061)	1,696
Ending Balance (in shares) at Jan. 23, 2021		96,621,000
Foreign currency translation	5,699			5,699
Cash flow hedges	260			260
Net income (loss)	28,514				28,755		(241)
Dividends declared	(25,252)				(25,252)
Common stock issued and related tax benefits	(543)	$ 2	(545)
Common stock issued and related tax benefits (in shares)		192,000
Stock-based compensation	5,327		5,327
ESOP activity	16,061					16,061
Ending Balance at Apr. 24, 2021	$ 964,671	$ 968	169,099	(62,592)	855,741	0	1,455
Ending Balance (in shares) at Apr. 24, 2021	96,813,000	96,813,000
Foreign currency translation	$ 324			324
Cash flow hedges	261			261
Net income (loss)	33,802				33,996		(194)
Dividends declared	(25,540)				(25,540)
Common stock issued and related tax benefits	(752)	$ 4	(756)
Common stock issued and related tax benefits (in shares)		422,000
Stock-based compensation	7,839		7,839
Ending Balance at Jul. 31, 2021	980,605	$ 972	176,182	(62,007)	864,197	0	1,261
Ending Balance (in shares) at Jul. 31, 2021		97,235,000
Beginning Balance at Apr. 24, 2021	$ 964,671	$ 968	169,099	(62,592)	855,741	0	1,455
Beginning Balance (in shares) at Apr. 24, 2021	96,813,000	96,813,000
Foreign currency translation	$ (5,742)
Cash flow hedges	782
Net income (loss)	138,315
Ending Balance at Jan. 29, 2022	$ 1,044,178	$ 976	191,505	(67,552)	918,311	0	938
Ending Balance (in shares) at Jan. 29, 2022	97,587,000	97,587,000
Beginning Balance at Jul. 31, 2021	$ 980,605	$ 972	176,182	(62,007)	864,197	0	1,261
Beginning Balance (in shares) at Jul. 31, 2021		97,235,000
Foreign currency translation	440			440
Cash flow hedges	260			260
Net income (loss)	47,938				48,330		(392)
Dividends declared	(25,630)				(25,630)
Common stock issued and related tax benefits	2,711	$ 3	2,708
Common stock issued and related tax benefits (in shares)		257,000
Stock-based compensation	5,658		5,658
Ending Balance at Oct. 30, 2021	1,011,982	$ 975	184,548	(61,307)	886,897	0	869
Ending Balance (in shares) at Oct. 30, 2021		97,492,000
Foreign currency translation	(6,506)			(6,506)
Cash flow hedges	261			261
Net income (loss)	56,575				57,006		(431)
Dividends declared	(25,592)				(25,592)
Common stock issued and related tax benefits	2,071	$ 1	2,070
Common stock issued and related tax benefits (in shares)		95,000
Stock-based compensation	4,887		4,887
Contribution from noncontrolling interest	500
Ending Balance at Jan. 29, 2022	$ 1,044,178	$ 976	$ 191,505	$ (67,552)	$ 918,311	$ 0	$ 938
Ending Balance (in shares) at Jan. 29, 2022	97,587,000	97,587,000

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Jan. 29, 2022	Jan. 23, 2021
Statement of Cash Flows [Abstract]
Net income (loss)	$ 138,315	$ 126,595
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation	32,999	30,452
Amortization	28,406	27,903
Gains on investments	(100,919)	0
Non-cash employee compensation	18,384	25,161
Non-cash losses (gains) and other, net	5,815	6,791
Change in assets and liabilities:
Receivables	(850,628)	(685,345)
Inventory	(132,689)	(12,506)
Accounts payable	110,862	(199,558)
Accrued liabilities	(49,296)	67,503
Other changes from operating activities, net	(35,388)	8,120
Net cash used in operating activities	(834,139)	(604,884)
Investing activities:
Additions to property and equipment	(26,488)	(21,101)
Collection of DPP receivable	918,354	634,499
Acquisitions, net of cash acquired	(19,793)	0
Sale of investments	74,346	396
Other investing activities	0	2,097
Net cash provided by investing activities	946,419	615,891
Financing activities:
Dividends paid	(75,746)	(50,077)
Payments on long-term debt	(100,750)	0
Draw on revolving credit	82,000	108,000
Other financing activities	4,030	2,139
Net cash (used in) provided by financing activities	(90,466)	60,062
Effect of exchange rate changes on cash	(14)	6,948
Net change in cash and cash equivalents	21,800	78,017
Cash and cash equivalents at beginning of period	143,244	77,944
Cash and cash equivalents at end of period	165,044	155,961
Supplemental disclosure of non-cash investing activity:
Noncash investments acquired	$ 822,787	$ 659,669

General

General	9 Months Ended
	Jan. 29, 2022
Accounting Policies [Abstract]
General	General Basis of Presentation In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly the financial position of Patterson Companies, Inc. (referred to herein as "Patterson" or in the first person notations "we," "our," and "us") as of January 29, 2022, and our results of operations and cash flows for the periods ended January 29, 2022 and January 23, 2021. Such adjustments are of a normal recurring nature. The results of operations for the three and nine months ended January 29, 2022 are not necessarily indicative of the results to be expected for any other interim period or for the year ending April 30, 2022. These financial statements should be read in conjunction with the financial statements included in our 2021 Annual Report on Form 10-K filed on June 23, 2021. The unaudited condensed consolidated financial statements include the assets and liabilities of PDC Funding Company, LLC ("PDC Funding"), PDC Funding Company II, LLC ("PDC Funding II"), PDC Funding Company III, LLC ("PDC Funding III") and PDC Funding Company IV, LLC ("PDC Funding IV") , which are our wholly owned subsidiaries and separate legal entities formed under Minnesota law. PDC Funding and PDC Funding II are fully consolidated special purpose entities established to sell customer installment sale contracts to outside financial institutions in the normal course of their business. PDC Funding III and PDC Funding IV are fully consolidated special purpose entities established to sell certain receivables to unaffiliated financial institutions. The assets of PDC Funding, PDC Funding II, PDC Funding III and PDC Funding IV would be available first and foremost to satisfy the claims of its creditors. There are no known creditors of PDC Funding, PDC Funding II, PDC Funding III or PDC Funding IV. The unaudited condensed consolidated financial statements also include the assets and liabilities of Technology Partner Innovations, LLC, which is further described in Note 8. Fiscal Year End We operate with a 52-53 week accounting convention with our fiscal year ending on the last Saturday in April. The third quarter of fiscal 2022 and 2021 represents the 13 weeks ended January 29, 2022 and the 13 weeks ended January 23, 2021, respectively. The nine months ended January 29, 2022 and January 23, 2021 included 40 and 39 weeks, respectively. Fiscal 2022 will include 53 weeks and fiscal 2021 included 52 weeks. Other Income, Net Other income, net consisted of the following: Three Months Ended Nine Months Ended January 29, 2022 January 23, 2021 January 29, 2022 January 23, 2021 Gain (loss) on interest rate swap agreements $ 3,688 $ 145 $ 5,805 $ (635) Investment income and other 2,498 4,178 8,608 10,215 Other income, net $ 6,186 $ 4,323 $ 14,413 $ 9,580 Comprehensive Income Comprehensive income is computed as net income including certain other items that are recorded directly to stockholders’ equity. Significant items included in comprehensive income are foreign currency translation adjustments and the effective portion of cash flow hedges, net of tax. Foreign currency translation adjustments do not include a provision for income tax because earnings from foreign operations are considered to be indefinitely reinvested outside the U.S. The income tax expense related to cash flow hedges was $80 and $80 for the three months ended January 29, 2022 and January 23, 2021, respectively. The income tax expense related to cash flow hedges was $241 and $241 for the nine months ended January 29, 2022 and January 23, 2021, respectively. Earnings Per Share ("EPS") The following table sets forth the computation of the weighted average shares outstanding used to calculate basic and diluted EPS: Three Months Ended Nine Months Ended January 29, 2022 January 23, 2021 January 29, 2022 January 23, 2021 Denominator for basic EPS – weighted average shares 97,471 95,734 97,213 95,472 Effect of dilutive securities – stock options, restricted stock and stock purchase plans 1,083 1,219 1,237 907 Denominator for diluted EPS – weighted average shares 98,554 96,953 98,450 96,379 Potentially dilutive securities representing 828 shares and 758 shares for the three and nine months ended January 29, 2022, respectively, and 638 shares and 1,207 shares for the three and nine months ended January 23, 2021, respectively, were excluded from the calculation of diluted EPS because their effects were anti-dilutive using the treasury stock method. Revenue Recognition Revenues are generated from the sale of consumable products, equipment and support, software and support, technical service parts and labor, and other sources. Revenues are recognized when or as performance obligations are satisfied. Performance obligations are satisfied when the customer obtains control of the goods or services. Consumable, equipment, software and parts sales are recorded upon delivery, except in those circumstances where terms of the sale are FOB shipping point, in which case sales are recorded upon shipment. Technical service labor is recognized as it is provided. Revenue derived from equipment and software support is recognized ratably over the period in which the support is provided. In addition to revenues generated from the distribution of consumable products under arrangements (buy/sell agreements) where the full market value of the product is recorded as revenue, we earn commissions for services provided under agency agreements. The agency agreement contrasts to a buy/sell agreement in that we do not have control over the transaction, as we do not have the primary responsibility of fulfilling the promise of the good or service and we do not bill or collect from the customer in an agency relationship. Commissions under agency agreements are recorded when the services are provided. Estimates for returns, damaged goods, rebates, loyalty programs and other revenue allowances are made at the time the revenue is recognized based on the historical experience for such items. The receivables that result from the recognition of revenue are reported net of related allowances. We maintain a valuation allowance based upon the expected collectability of receivables held. Estimates are used to determine the valuation allowance and are based on several factors, including historical collection data, current and forecasted economic trends and credit worthiness of customers. Receivables are written off when we determine the amounts to be uncollectible, typically upon customer bankruptcy or non-response to continuous collection efforts. The portions of receivable amounts that are not expected to be collected during the next twelve months are classified as long-term. Net sales do not include sales tax as we are considered a pass-through conduit for collecting and remitting sales tax. Contract Balances Contract balances represent amounts presented in our condensed consolidated balance sheets when either we have transferred goods or services to the customer or the customer has paid consideration to us under the contract. These contract balances include accounts receivable, contract assets and contract liabilities. Contract asset balances as of January 29, 2022 and April 24, 2021 were $632 and $2,491, respectively. Our contract liabilities primarily relate to advance payments from customers, upfront payments for software and support provided over time, and options that provide a material right to customers, such as our customer loyalty programs. At January 29, 2022 and April 24, 2021, contract liabilities of $24,104 and $23,526 were reported in other accrued liabilities, respectively. During the nine months ended January 29, 2022, we recognized $18,703 of the amount previously deferred at April 24, 2021. Recently Issued Accounting Pronouncements In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” and in January 2021 issued ASU No. 2021-01, “Reference Rate Reform (Topic 848): Scope”. These ASUs provide temporary optional expedients and exceptions to existing guidance on contract modifications and hedge accounting to facilitate the market transition from existing reference rates, such as LIBOR which is being phased out beginning at the end of 2021, to alternate reference rates. These standards were effective upon issuance. We are evaluating the optional relief guidance provided within these ASUs, and are reviewing our debt securities, derivative instruments and customer financing contracts that currently utilize LIBOR as the reference rate.

Acquisitions

Acquisitions	9 Months Ended
	Jan. 29, 2022
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions During the first quarter of fiscal 2022, we acquired substantially all of the assets of Miller Vet Holdings, LLC, a multiregional veterinary distributor, for total cash consideration of $19,793 and liabilities assumed of $6,799. We have included its results of operations in our financial statements since the date of acquisition within the Animal Health segment. This acquisition is expected to grow our presence in the companion animal market and drive increased operating leverage and synergies. The accounting for the acquisition is not complete because certain information and analysis that may impact our initial valuations are still being obtained or reviewed. As of January 29, 2022, we have recorded $14,000 of identifiable intangibles, $997 of goodwill, which is deductible for income tax purposes, and net tangible assets of $4,796 in our condensed consolidated balance sheets related to this acquisition. Adjustments to decrease goodwill by $192 during the second quarter of fiscal 2022 and to increase goodwill by $126 during the third quarter of fiscal 2022 were made as a result of working capital adjustments. The acquisition did not materially impact our financial statements, and therefore pro forma results are not provided.

Receivables Securitization Prog

Receivables Securitization Program	9 Months Ended
	Jan. 29, 2022
Transfers and Servicing [Abstract]
Receivables Securitization Program	Receivables Securitization Program We are party to certain receivables purchase agreements (the “Receivables Purchase Agreements”) with MUFG Bank, Ltd. ("MUFG") (f.k.a. The Bank of Tokyo-Mitsubishi UFJ, Ltd.), under which MUFG acts as an agent to facilitate the sale of certain Patterson receivables (the “Receivables”) to certain unaffiliated financial institutions (the “Purchasers”). The sale of these receivables is accounted for as a sale of assets under the provisions of ASC 860, Transfers and Servicing. We utilize PDC Funding III and PDC Funding IV to facilitate the sale to fulfill requirements within the agreement. We use a daily unit of account for these Receivables. The proceeds from the sale of these Receivables comprise a combination of cash and a deferred purchase price (“DPP”) receivable. The DPP receivable is ultimately realized by Patterson following the collection of the underlying Receivables sold to the Purchasers. The amount available under the Receivables Purchase Agreements fluctuates over time based on the total amount of eligible Receivables generated during the normal course of business, with maximum availability of $200,000 as of January 29, 2022, of which $200,000 was utilized. We have no retained interests in the transferred Receivables, other than our right to the DPP receivable and collection and administrative service fees. We consider the fees received adequate compensation for services rendered, and accordingly have recorded no servicing asset or liability. As of January 29, 2022 and April 24, 2021, the fair value of outstanding trade receivables transferred to the Purchasers under the facility and derecognized from the condensed consolidated balance sheets were $368,257 and $384,950, respectively. Sales of trade receivables under this facility were $2,731,755 and $2,307,655, and cash collections from customers on receivables sold were $2,748,173 and $2,251,129 during the nine months ended January 29, 2022 and January 23, 2021, respectively. The DPP receivable is recorded at fair value within the condensed consolidated balance sheets within prepaid expenses and other current assets. The difference between the carrying amount of the Receivables and the sum of the cash and fair value of the DPP receivable received at time of transfer is recognized as a gain or loss on sale of the related Receivables inclusive of bank fees and allowance for credit losses. In operating expenses in the condensed consolidated statements of operations and other comprehensive income, we recorded a loss of $663 and a gain of $926 during the three months ended January 29, 2022 and January 23, 2021, respectively, and losses of $2,278 and $2,075 during the nine months ended January 29, 2022 and January 23, 2021, respectively, related to the Receivables. The following rollforward summarizes the activity related to the DPP receivable: Nine Months Ended January 29, 2022 January 23, 2021 Beginning DPP receivable balance $ 183,999 $ 117,327 Non-cash additions to DPP receivable 768,440 572,683 Collection of DPP receivable (784,871) (526,369) Ending DPP receivable balance $ 167,568 $ 163,641

Customer Financing

Customer Financing	9 Months Ended
	Jan. 29, 2022
Receivables [Abstract]
Customer Financing	Customer Financing As a convenience to our customers, we offer several different financing alternatives, including a third party program and a Patterson-sponsored program. For the third party program, we act as a facilitator between the customer and the third party financing entity with no on-going involvement in the financing transaction. Under the Patterson-sponsored program, equipment purchased by creditworthy customers may be financed up to a maximum of $1,000. We generally sell our customers’ financing contracts to outside financial institutions in the normal course of our business. These financing arrangements are accounted for as a sale of assets under the provisions of ASC 860, Transfers and Servicing. We currently have two arrangements under which we sell these contracts. We use a monthly unit of account for these financing contracts. First, we operate under an agreement to sell a portion of our equipment finance contracts to commercial paper conduits with MUFG serving as the agent. We utilize PDC Funding to fulfill a requirement of participating in the commercial paper conduit. We receive the proceeds of the contracts upon sale to MUFG. At least 15.0% of the proceeds are held by the conduit as security against eventual performance of the portfolio. This percentage can be greater and is based upon certain ratios defined in the agreement with MUFG. The capacity under the agreement with MUFG at January 29, 2022 was $525,000. Second, we maintain an agreement with Fifth Third Bank ("Fifth Third") whereby Fifth Third purchases customers’ financing contracts. PDC Funding II sells its financing contracts to Fifth Third. We receive the proceeds of the contracts upon sale to Fifth Third. At least 15.0% of the proceeds are held by the conduit as security against eventual performance of the portfolio. This percentage can be greater and is based upon certain ratios defined in the agreement with Fifth Third. The capacity under the agreement with Fifth Third at January 29, 2022 was $100,000. We service the financing contracts under both arrangements, for which we are paid a servicing fee. The servicing fees we receive are considered adequate compensation for services rendered. Accordingly, no servicing asset or liability has been recorded. The portion of the purchase price for the receivables held by the conduits is deemed a DPP receivable, which is paid to the applicable special purpose entity as payments on the customers’ financing contracts are collected by Patterson from customers. The difference between the carrying amount of the receivables sold under these programs and the sum of the cash and fair value of the DPP receivable received at time of transfer is recognized as a gain on sale of the related receivables and recorded in net sales in the condensed consolidated statements of operations and other comprehensive income. Expenses incurred related to customer financing activities are recorded in operating expenses in our condensed consolidated statements of operations and other comprehensive income. During the nine months ended January 29, 2022 and January 23, 2021, we sold $225,300 and $245,552 of contracts under these arrangements, respectively. In net sales in the condensed consolidated statements of operations and other comprehensive income, we recorded losses of $5,143 and $1,484 during the three months ended January 29, 2022 and January 23, 2021, respectively, related to these contracts sold. In net sales in the condensed consolidated statements of operations and other comprehensive income, we recorded losses of $8,433 and $212 during the nine months ended January 29, 2022 and January 23, 2021, respectively, related to these contracts sold. Cash collections on financed receivables sold were $327,205 and $291,074 during the nine months ended January 29, 2022 and January 23, 2021, respectively. Included in cash and cash equivalents in the condensed consolidated balance sheets are $40,787 and $36,771 as of January 29, 2022 and April 24, 2021, respectively, which represent cash collected from previously sold customer financing contracts that have not yet been settled. Included in current receivables in the condensed consolidated balance sheets are $65,191 and $50,638 as of January 29, 2022 and April 24, 2021, respectively, of finance contracts we have not yet sold. A total of $571,629 of finance contracts receivable sold under the arrangements was outstanding at January 29, 2022. Since the internal financing program began in 1994, bad debt write-offs have amounted to less than 1% of the loans originated. The following rollforward summarizes the activity related to the DPP receivable: Nine Months Ended January 29, 2022 January 23, 2021 Beginning DPP receivable balance $ 227,967 $ 228,019 Non-cash additions to DPP receivable 54,347 86,986 Collection of DPP receivable (133,483) (108,130) Ending DPP receivable balance $ 148,831 $ 206,875 The arrangements require us to maintain a minimum current ratio and maximum leverage ratio. We were in compliance with those covenants at January 29, 2022.

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Jan. 29, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments We are a party to certain offsetting and identical interest rate cap agreements entered into to fulfill certain covenants of the equipment finance contract sale agreements. The interest rate cap agreements also provide a credit enhancement feature for the financing contracts sold by PDC Funding and PDC Funding II to the commercial paper conduit. The interest rate cap agreements are canceled and new agreements are entered into periodically to maintain consistency with the dollar maximum of the sale agreements and the maturity of the underlying financing contracts. As of January 29, 2022, PDC Funding had purchased an interest rate cap from a bank with a notional amount of $525,000 and a maturity date of August 2029. We sold an identical interest rate cap to the same bank. As of January 29, 2022, PDC Funding II had purchased an interest rate cap from a bank with a notional amount of $100,000 and a maturity date of September 2028. We sold an identical interest rate cap to the same bank. These interest rate cap agreements do not qualify for hedge accounting treatment and, accordingly, we record the fair value of the agreements as an asset or liability and the change in fair value as income or expense during the period in which the change occurs. In January 2014, we entered into a forward interest rate swap agreement with a notional amount of $250,000 and accounted for it as a cash flow hedge, in order to hedge interest rate fluctuations in anticipation of refinancing the 5.17% senior notes due March 25, 2015. These notes were repaid on March 25, 2015 and replaced with new $250,000 3.48% senior notes due March 24, 2025. A cash payment of $29,003 was made in March 2015 to settle the interest rate swap. This amount is recorded in other comprehensive income (loss), net of tax, and is recognized as interest expense over the life of the related debt. We utilize forward interest rate swap agreements to hedge against interest rate fluctuations that impact the amount of net sales we record related to our customer financing contracts. These interest rate swap agreements do not qualify for hedge accounting treatment and, accordingly, we record the fair value of the agreements as an asset or liability and the change in fair value as income or expense during the period in which the change occurs. As of April 24, 2021, the remaining notional amount for interest rate swap agreements was $653,122, with the latest maturity date in fiscal 2028. During the nine months ended January 29, 2022, we entered into forward interest rate swap agreements with a notional amount of $66,623. As of January 29, 2022, the remaining notional amount for interest rate swap agreements was $516,099, with the latest maturity date in fiscal 2029. Net cash payments of $5,551 and $6,917 were made during the nine months ended January 29, 2022 and January 23, 2021, respectively, to settle a portion of our liabilities related to interest rate swap agreements. These payments are reflected as cash outflows in the condensed consolidated statements of cash flows within net cash used in operating activities. The following presents the fair value of derivative instruments included in the condensed consolidated balance sheets: Derivative type Classification January 29, 2022 April 24, 2021 Assets: Interest rate contracts Prepaid expenses and other current assets $ 1,355 $ — Interest rate contracts Other non-current assets 6,052 2,120 Total asset derivatives $ 7,407 $ 2,120 Liabilities: Interest rate contracts Other accrued liabilities $ 1,408 $ 3,776 Interest rate contracts Other non-current liabilities 3,764 7,795 Total liability derivatives $ 5,172 $ 11,571 The following tables present the pre-tax effect of derivative instruments on the condensed consolidated statements of operations and other comprehensive income: Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion) Three Months Ended Nine Months Ended Derivatives in cash flow hedging relationships Statements of operations location January 29, 2022 January 23, 2021 January 29, 2022 January 23, 2021 Interest rate contracts Interest expense $ (341) $ (341) $ (1,023) $ (1,023) Amount of Gain (Loss) Recognized in Income on Derivatives Three Months Ended Nine Months Ended Derivatives not designated as hedging instruments Statements of operations location January 29, 2022 January 23, 2021 January 29, 2022 January 23, 2021 Interest rate contracts Other income, net $ 3,688 $ 145 $ 5,805 $ (635) There were no gains or losses recognized in other comprehensive income (loss) on cash flow hedging derivatives during the three and nine months ended January 29, 2022 or January 23, 2021.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Jan. 29, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is the price at which an asset could be exchanged in a current transaction between knowledgeable, willing parties. The fair value hierarchy of measurements is categorized into one of three levels based on the lowest level of significant input used: Level 1 - Quoted prices in active markets for identical assets and liabilities at the measurement date. Level 2 - Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. Level 3 - Unobservable inputs for which there is little or no market data available. These inputs reflect management’s assumptions of what market participants would use in pricing the asset or liability. Our hierarchy for assets and liabilities measured at fair value on a recurring basis is as follows: January 29, 2022 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 10,854 $ 10,854 $ — $ — DPP receivable - receivables securitization program 167,568 — — 167,568 DPP receivable - customer financing 148,831 — — 148,831 Derivative instruments 7,407 — 7,407 — Total assets $ 334,660 $ 10,854 $ 7,407 $ 316,399 Liabilities: Derivative instruments $ 5,172 $ — $ 5,172 $ — April 24, 2021 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 1,698 $ 1,698 $ — $ — DPP receivable - receivables securitization program 183,999 — — 183,999 DPP receivable - customer financing 227,967 — — 227,967 Derivative instruments 2,120 — 2,120 — Total assets $ 415,784 $ 1,698 $ 2,120 $ 411,966 Liabilities: Derivative instruments $ 11,571 $ — $ 11,571 $ — Cash equivalents – We value cash equivalents at their current market rates. The carrying value of cash equivalents approximates fair value and maturities are less than three months. DPP receivable - receivables securitization program – We value this DPP receivable based on a discounted cash flow analysis using unobservable inputs, which include the estimated timing of payments and the credit quality of the underlying creditor. Significant changes in any of the significant unobservable inputs in isolation would not result in a materially different fair value estimate. The interrelationship between these inputs is insignificant. DPP receivable - customer financing – We value this DPP receivable based on a discounted cash flow analysis using unobservable inputs, which include a forward yield curve, the estimated timing of payments and the credit quality of the underlying creditor. Significant changes in any of the significant unobservable inputs in isolation would not result in a materially different fair value estimate. The interrelationship between these inputs is insignificant. Derivative instruments – Our derivative instruments consist of interest rate cap agreements and interest rate swaps. These instruments are valued using inputs such as interest rates and credit spreads. Certain assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis, but are subject to fair value adjustments under certain circumstances. We adjust the carrying value of our non-marketable equity securities to fair value when observable transactions of identical or similar securities occur, or due to an impairment. During the three months ended July 31, 2021, we sold a portion of our investment in Vetsource, a commercial partner and leading home delivery provider for veterinarians, with a carrying value of $25,814 for $56,849. We recorded a pre-tax gain of $31,035 in gains on investments in our condensed consolidated statements of operations and other comprehensive income as a result of this sale in the first quarter of fiscal 2022. The cash received of $56,849 is reported within investing activities in our condensed consolidated statements of cash flows. During the three months ended July 31, 2021, we also recorded a pre-tax non-cash gain of $31,035 to reflect the increase in the carrying value of the remaining portion of our investment in Vetsource, which was based on the selling price of the portion of the investment we sold for $56,849. This gain was recorded in gains on investments in our condensed consolidated statements of operations and other comprehensive income. The carrying value of the investment we owned following this sale was $56,849 and $25,814 as of January 29, 2022 and April 24, 2021, respectively. Concurrent with the sale completed in the first quarter of fiscal 2022, we obtained rights that will allow us, under certain circumstances, to require another shareholder of Vetsource to purchase our remaining shares. We recorded a pre-tax non-cash gain of $25,757 in gains on investments in our condensed consolidated statements of operations and other comprehensive income as a result of this transaction. The carrying value of this put option as of January 29, 2022 is $25,757, and is reported within investments in our condensed consolidated balance sheets. The aggregate gains on investments of $87,827 are reported within operating activities in our condensed consolidated statements of cash flows. Concurrent with obtaining this put option, we also granted rights to the same Vetsource shareholder that would allow such shareholder, under certain circumstances, to require us to sell our remaining shares at fair value. There were no fair value adjustments to such assets during the nine months ended January 23, 2021. During the three months ended January 29, 2022, we sold a portion of our investment in Vets Plus with a carrying value of $4,009 for $17,101. We recorded a pre-tax gain of $13,092 in gains on investments in our condensed consolidated statements of operations and other comprehensive income as a result of this sale in the third quarter of fiscal 2022. This $13,092 pre-tax gain is reported within operating activities in our condensed consolidated statements of cash flows. The cash received of $17,101 is reported within investing activities in our condensed consolidated statements of cash flows. The carrying value of the investment we owned following this sale was $2,355 and $2,355 as of January 29, 2022 and April 24, 2021, respectively. There were no fair value adjustments to such assets during the nine months ended January 23, 2021. Our debt is not measured at fair value in the condensed consolidated balance sheets. The estimated fair value of our debt as of January 29, 2022 and April 24, 2021 was $498,771 and $610,811, respectively, as compared to a carrying value of $488,353 and $588,295 at January 29, 2022 and April 24, 2021, respectively. The fair value of debt was measured using a discounted cash flow analysis based on expected market based yields (i.e., Level 2 inputs). The carrying amounts of receivables, net of allowances, accounts payable, and certain accrued and other current liabilities approximated fair value at January 29, 2022 and April 24, 2021.

Income Taxes

Income Taxes	9 Months Ended
	Jan. 29, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income TaxesThe effective income tax rate for the three months ended January 29, 2022 was 24.8% compared to 19.7% for the three months ended January 23, 2021. The increase in the rate for the three months ended January 29, 2022 was primarily due to the impact of excess tax benefit deductions and provision to return adjustments in the prior year quarter. The effective income tax rate for the nine months ended January 29, 2022 was 24.8% compared to 22.9% for the nine months ended January 23, 2021. The increase in the rate for the nine months ended January 29, 2022 was primarily due to provision to return adjustments in the prior year period and a geographical shift in earnings, which was partially offset by excess tax benefits associated with stock-based compensation awards.

Technology Partner Innovations,

Technology Partner Innovations, LLC ("TPI")	9 Months Ended
	Jan. 29, 2022
Equity Method Investments and Joint Ventures [Abstract]
Technology Partner Innovations, LLC ("TPI")	Technology Partner Innovations, LLC ("TPI")In fiscal 2019, we entered into an agreement with Cure Partners to form TPI, which offers a cloud-based practice management software, NaVetor, to its customers. Patterson and Cure Partners each contributed net assets of $4,000 to form TPI. We determined that TPI is a variable interest entity, and we consolidate the results of operations of TPI as we have concluded that we are the primary beneficiary of TPI. During the three months ended January 29, 2022 and January 23, 2021, net loss attributable to the noncontrolling interest was $431 and $192, respectively. During the nine months ended January 29, 2022 and January 23, 2021, net loss attributable to the noncontrolling interest was $1,017 and $631, respectively. We contributed additional net assets of $500 during the three months ended October 30, 2021 and $500 during the three months ended January 29, 2022. Cure Partners contributed additional net assets of $500 during the three months ended January 29, 2022 and is expected to contribute additional net assets of $500. Since TPI was formed in fiscal 2019, there have been no changes in ownership interests.

Segment and Geographic Data

Segment and Geographic Data	9 Months Ended
	Jan. 29, 2022
Segment Reporting [Abstract]
Segment and Geographic Data	Segment and Geographic DataWe present three reportable segments: Dental, Animal Health and Corporate. Dental and Animal Health are strategic business units that offer similar products and services to different customer bases. Dental provides a virtually complete range of consumable dental products, equipment and software, turnkey digital solutions and value-added services to dentists, dental laboratories, institutions, and other healthcare professionals throughout North America. Animal Health is a leading, full-line distributor in North America and the U.K. of animal health products, services and technologies to both the production-animal and companion-pet markets. Our Corporate segment is comprised of general and administrative expenses, including home office support costs in areas such as information technology, finance, legal, human resources and facilities. In addition, customer financing and other miscellaneous sales are reported within Corporate results. Corporate assets consist primarily of cash and cash equivalents, accounts receivable, property and equipment and long-term receivables. We evaluate segment performance based on operating income. The costs to operate the fulfillment centers are allocated to the operating units based on the through-put of the unit. The following tables present information about our reportable segments: Three Months Ended Nine Months Ended January 29, 2022 January 23, 2021 January 29, 2022 January 23, 2021 Consolidated net sales United States $ 1,329,051 $ 1,272,696 $ 4,006,576 $ 3,586,674 United Kingdom 168,568 178,260 545,321 507,347 Canada 98,977 100,312 308,736 256,252 Total $ 1,596,596 $ 1,551,268 $ 4,860,633 $ 4,350,273 Dental net sales United States $ 591,397 $ 584,868 $ 1,694,044 $ 1,553,097 Canada 59,236 64,078 185,671 157,892 Total $ 650,633 $ 648,946 $ 1,879,715 $ 1,710,989 Animal Health net sales United States $ 736,465 $ 679,853 $ 2,306,645 $ 2,014,970 United Kingdom 168,568 178,260 545,321 507,347 Canada 39,741 36,234 123,065 98,360 Total $ 944,774 $ 894,347 $ 2,975,031 $ 2,620,677 Corporate net sales United States $ 1,189 $ 7,975 $ 5,887 $ 18,607 Total $ 1,189 $ 7,975 $ 5,887 $ 18,607 Three Months Ended Nine Months Ended January 29, 2022 January 23, 2021 1 January 29, 2022 January 23, 2021 1 Consolidated net sales Consumable $ 1,237,127 $ 1,199,102 $ 3,923,613 $ 3,485,669 Equipment and software 276,446 266,628 683,711 616,286 Value-added services and other 83,023 85,538 253,309 248,318 Total $ 1,596,596 $ 1,551,268 $ 4,860,633 $ 4,350,273 Dental net sales Consumable $ 337,192 $ 342,561 $ 1,070,422 $ 957,013 Equipment and software 241,384 237,205 591,787 548,403 Value-added services and other 72,057 69,180 217,506 205,573 Total $ 650,633 $ 648,946 $ 1,879,715 $ 1,710,989 Animal Health net sales Consumable $ 899,935 $ 856,541 $ 2,853,191 $ 2,528,656 Equipment and software 35,062 29,423 91,924 67,883 Value-added services and other 9,777 8,383 29,916 24,138 Total $ 944,774 $ 894,347 $ 2,975,031 $ 2,620,677 Corporate net sales Value-added services and other $ 1,189 $ 7,975 $ 5,887 $ 18,607 Total $ 1,189 $ 7,975 $ 5,887 $ 18,607 1 Certain sales were reclassified between categories to conform to the current period presentation. Three Months Ended Nine Months Ended January 29, 2022 January 23, 2021 January 29, 2022 January 23, 2021 Operating income Dental $ 64,125 $ 61,291 $ 118,609 $ 172,017 Animal Health 23,420 20,615 73,360 55,605 Corporate (26,712) (20,225) (107,805) (54,363) Total $ 60,833 $ 61,681 $ 84,164 $ 173,259 January 29, 2022 April 24, 2021 Total assets Dental $ 893,996 $ 863,718 Animal Health 1,527,152 1,391,892 Corporate 442,348 495,901 Total $ 2,863,496 $ 2,751,511

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss ("AOCL")	9 Months Ended
	Jan. 29, 2022
Equity [Abstract]
Accumulated Other Comprehensive Loss ("AOCL")	Accumulated Other Comprehensive Loss ("AOCL")The following table summarizes the changes in AOCL as of January 29, 2022: Cash Flow Hedges Currency Total AOCL at April 24, 2021 $ (4,496) $ (58,096) $ (62,592) Other comprehensive income before reclassifications — (5,742) (5,742) Amounts reclassified from AOCL 782 — 782 AOCL at January 29, 2022 $ (3,714) $ (63,838) $ (67,552)

Legal Proceedings

Legal Proceedings	9 Months Ended
	Jan. 29, 2022
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	Legal Proceedings From time to time, we become involved in lawsuits, administrative proceedings, government subpoenas, and government investigations (which may, in some cases, involve our entering into settlement agreements or consent decrees), relating to antitrust, commercial, environmental, product liability, intellectual property, regulatory, employment discrimination, securities, and other matters, including matters arising out of the ordinary course of business. The results of any such proceedings cannot be predicted with certainty because such matters are inherently uncertain. Significant damages or penalties may be sought in some matters, and some matters may require years to resolve. We also may be subject to fines or penalties, and equitable remedies (including but not limited to the suspension, revocation or non-renewal of licenses). We accrue for these matters when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Unless otherwise noted, with respect to the specific legal proceedings and claims described below, the amount or range of possible losses is not reasonably estimable. Adverse outcomes in some or all of these matters may result in significant monetary damages or injunctive relief against us that could adversely affect our ability to conduct our business. There also exists the possibility of a material adverse effect on our financial statements for the period in which the effect of an unfavorable outcome becomes probable and reasonably estimable. On March 28, 2018, Plymouth County Retirement System (“Plymouth”) filed a federal securities class action complaint against Patterson Companies, Inc. and its former CEO Scott P. Anderson and former CFO Ann B. Gugino in the U.S. District Court for the District of Minnesota in a case captioned Plymouth County Retirement System v. Patterson Companies, Inc., Scott P. Anderson and Ann B. Gugino, Case No. 0:18-cv-00871 MJD/SER. On November 9, 2018, the complaint was amended to add former CEO James W. Wiltz and former CFO R. Stephen Armstrong as individual defendants. Under the amended complaint, on behalf of all persons or entities that purchased or otherwise acquired Patterson’s common stock between June 26, 2013 and February 28, 2018, Plymouth alleged that Patterson violated federal securities laws by failing to disclose that Patterson’s revenue and earnings were “artificially inflated by Defendants’ illicit, anti-competitive scheme with its purported competitors, Benco and Schein, to prevent the formation of buying groups that would allow its customers who were office-based practitioners to take advantage of pricing arrangements identical or comparable to those enjoyed by large-group customers.” In its class action complaint, Plymouth asserted one count against Patterson for violating Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder and a second, related count against the individual defendants for violating Section 20(a) of the Exchange Act. Plymouth sought compensatory damages, pre- and post-judgment interest and reasonable attorneys’ fees and experts’ witness fees and costs. On August 30, 2018, Gwinnett County Public Employees Retirement System and Plymouth County Retirement System, Pembroke Pines Pension Fund for Firefighters and Police Officers, Central Laborers Pension Fund were appointed lead plaintiffs. On January 18, 2019, Patterson and the individual defendants filed a motion to dismiss the amended complaint. On July 25, 2019, the U.S. Magistrate Judge issued a report and recommendation that the motion to dismiss be granted in part and denied in part. The report and recommendation, among other things, recommended the dismissal of all claims against individual defendants Ann B. Gugino, R. Stephen Armstrong and James W. Wiltz. On September 10, 2019, the District Court adopted the Magistrate Judge’s report and recommendation. On September 28, 2020, the District Court granted plaintiffs’ motion to certify the class, appoint class representatives and appoint class counsel. On October 12, 2020, Patterson and the remaining individual defendant, Mr. Anderson, filed a Rule 23(f) petition for interlocutory appeal of the class certification order with the Eighth Circuit Court of Appeals in which the defendants sought clarification of the standard for rebutting the Basic presumption of class-wide reliance in securities class actions. On October 13, 2020, Patterson and Mr. Anderson filed a motion to stay

General (Policies)

General (Policies)	9 Months Ended
	Jan. 29, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to present fairly the financial position of Patterson Companies, Inc. (referred to herein as "Patterson" or in the first person notations "we," "our," and "us") as of January 29, 2022, and our results of operations and cash flows for the periods ended January 29, 2022 and January 23, 2021. Such adjustments are of a normal recurring nature. The results of operations for the three and nine months ended January 29, 2022 are not necessarily indicative of the results to be expected for any other interim period or for the year ending April 30, 2022. These financial statements should be read in conjunction with the financial statements included in our 2021 Annual Report on Form 10-K filed on June 23, 2021. The unaudited condensed consolidated financial statements include the assets and liabilities of PDC Funding Company, LLC ("PDC Funding"), PDC Funding Company II, LLC ("PDC Funding II"), PDC Funding Company III, LLC ("PDC Funding III") and PDC Funding Company IV, LLC ("PDC Funding IV") , which are our wholly owned subsidiaries and separate legal entities formed under Minnesota law. PDC Funding and PDC Funding II are fully consolidated special purpose entities established to sell customer installment sale contracts to outside financial institutions in the normal course of their business. PDC Funding III and PDC Funding IV
Fiscal Year End	Fiscal Year End We operate with a 52-53 week accounting convention with our fiscal year ending on the last Saturday in April. The third quarter of fiscal 2022 and 2021 represents the 13 weeks ended January 29, 2022 and the 13 weeks ended January 23, 2021, respectively. The nine months ended January 29, 2022 and January 23, 2021 included 40 and 39 weeks, respectively. Fiscal 2022 will include 53 weeks and fiscal 2021 included 52 weeks.
Comprehensive Income	Comprehensive IncomeComprehensive income is computed as net income including certain other items that are recorded directly to stockholders’ equity. Significant items included in comprehensive income are foreign currency translation adjustments and the effective portion of cash flow hedges, net of tax. Foreign currency translation adjustments do not include a provision for income tax because earnings from foreign operations are considered to be indefinitely reinvested outside the U.S.
Revenue Recognition	Revenue Recognition Revenues are generated from the sale of consumable products, equipment and support, software and support, technical service parts and labor, and other sources. Revenues are recognized when or as performance obligations are satisfied. Performance obligations are satisfied when the customer obtains control of the goods or services. Consumable, equipment, software and parts sales are recorded upon delivery, except in those circumstances where terms of the sale are FOB shipping point, in which case sales are recorded upon shipment. Technical service labor is recognized as it is provided. Revenue derived from equipment and software support is recognized ratably over the period in which the support is provided. In addition to revenues generated from the distribution of consumable products under arrangements (buy/sell agreements) where the full market value of the product is recorded as revenue, we earn commissions for services provided under agency agreements. The agency agreement contrasts to a buy/sell agreement in that we do not have control over the transaction, as we do not have the primary responsibility of fulfilling the promise of the good or service and we do not bill or collect from the customer in an agency relationship. Commissions under agency agreements are recorded when the services are provided. Estimates for returns, damaged goods, rebates, loyalty programs and other revenue allowances are made at the time the revenue is recognized based on the historical experience for such items. The receivables that result from the recognition of revenue are reported net of related allowances. We maintain a valuation allowance based upon the expected collectability of receivables held. Estimates are used to determine the valuation allowance and are based on several factors, including historical collection data, current and forecasted economic trends and credit worthiness of customers. Receivables are written off when we determine the amounts to be uncollectible, typically upon customer bankruptcy or non-response to continuous collection efforts. The portions of receivable amounts that are not expected to be collected during the next twelve months are classified as long-term. Net sales do not include sales tax as we are considered a pass-through conduit for collecting and remitting sales tax. Contract Balances Contract balances represent amounts presented in our condensed consolidated balance sheets when either we have transferred goods or services to the customer or the customer has paid consideration to us under the contract. These contract balances include accounts receivable, contract assets and contract liabilities.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” and in January 2021 issued ASU No. 2021-01, “Reference Rate Reform (Topic 848): Scope”. These ASUs provide temporary optional expedients and exceptions to existing guidance on contract modifications and hedge accounting to facilitate the market transition from existing reference rates, such as LIBOR which is being phased out beginning at the end of 2021, to alternate reference rates. These standards were effective upon issuance. We are evaluating the optional relief guidance provided within these ASUs, and are reviewing our debt securities, derivative instruments and customer financing contracts that currently utilize LIBOR as the reference rate.

General (Tables)

General (Tables)	9 Months Ended
	Jan. 29, 2022
Accounting Policies [Abstract]
Schedule of Other Income	Other income, net consisted of the following: Three Months Ended Nine Months Ended January 29, 2022 January 23, 2021 January 29, 2022 January 23, 2021 Gain (loss) on interest rate swap agreements $ 3,688 $ 145 $ 5,805 $ (635) Investment income and other 2,498 4,178 8,608 10,215 Other income, net $ 6,186 $ 4,323 $ 14,413 $ 9,580
Computation of Basic and Diluted Earnings Per Share (EPS)	The following table sets forth the computation of the weighted average shares outstanding used to calculate basic and diluted EPS: Three Months Ended Nine Months Ended January 29, 2022 January 23, 2021 January 29, 2022 January 23, 2021 Denominator for basic EPS – weighted average shares 97,471 95,734 97,213 95,472 Effect of dilutive securities – stock options, restricted stock and stock purchase plans 1,083 1,219 1,237 907 Denominator for diluted EPS – weighted average shares 98,554 96,953 98,450 96,379

Transfers and Servicing (Tables

Transfers and Servicing (Tables)	9 Months Ended
	Jan. 29, 2022
Transfers and Servicing [Abstract]
Schedule of Deferred Purchase Price Receivable	The following rollforward summarizes the activity related to the DPP receivable: Nine Months Ended January 29, 2022 January 23, 2021 Beginning DPP receivable balance $ 183,999 $ 117,327 Non-cash additions to DPP receivable 768,440 572,683 Collection of DPP receivable (784,871) (526,369) Ending DPP receivable balance $ 167,568 $ 163,641

Customer Financing (Tables)

Customer Financing (Tables)	9 Months Ended
	Jan. 29, 2022
Receivables [Abstract]
Summary of Activity Related to DPP Receivable	The following rollforward summarizes the activity related to the DPP receivable: Nine Months Ended January 29, 2022 January 23, 2021 Beginning DPP receivable balance $ 227,967 $ 228,019 Non-cash additions to DPP receivable 54,347 86,986 Collection of DPP receivable (133,483) (108,130) Ending DPP receivable balance $ 148,831 $ 206,875

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Jan. 29, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Instruments Included in Condensed Consolidated Balance Sheets	The following presents the fair value of derivative instruments included in the condensed consolidated balance sheets: Derivative type Classification January 29, 2022 April 24, 2021 Assets: Interest rate contracts Prepaid expenses and other current assets $ 1,355 $ — Interest rate contracts Other non-current assets 6,052 2,120 Total asset derivatives $ 7,407 $ 2,120 Liabilities: Interest rate contracts Other accrued liabilities $ 1,408 $ 3,776 Interest rate contracts Other non-current liabilities 3,764 7,795 Total liability derivatives $ 5,172 $ 11,571
Effect of Derivative instruments in Cash Flow Hedging Relationship on Condensed Consolidated Statements of Income and Other Comprehensive Income (OCI)	The following tables present the pre-tax effect of derivative instruments on the condensed consolidated statements of operations and other comprehensive income: Amount of Gain (Loss) Reclassified from Accumulated Other Comprehensive Loss into Income (Effective Portion) Three Months Ended Nine Months Ended Derivatives in cash flow hedging relationships Statements of operations location January 29, 2022 January 23, 2021 January 29, 2022 January 23, 2021 Interest rate contracts Interest expense $ (341) $ (341) $ (1,023) $ (1,023) Amount of Gain (Loss) Recognized in Income on Derivatives Three Months Ended Nine Months Ended Derivatives not designated as hedging instruments Statements of operations location January 29, 2022 January 23, 2021 January 29, 2022 January 23, 2021 Interest rate contracts Other income, net $ 3,688 $ 145 $ 5,805 $ (635)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Jan. 29, 2022
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	Our hierarchy for assets and liabilities measured at fair value on a recurring basis is as follows: January 29, 2022 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 10,854 $ 10,854 $ — $ — DPP receivable - receivables securitization program 167,568 — — 167,568 DPP receivable - customer financing 148,831 — — 148,831 Derivative instruments 7,407 — 7,407 — Total assets $ 334,660 $ 10,854 $ 7,407 $ 316,399 Liabilities: Derivative instruments $ 5,172 $ — $ 5,172 $ — April 24, 2021 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 1,698 $ 1,698 $ — $ — DPP receivable - receivables securitization program 183,999 — — 183,999 DPP receivable - customer financing 227,967 — — 227,967 Derivative instruments 2,120 — 2,120 — Total assets $ 415,784 $ 1,698 $ 2,120 $ 411,966 Liabilities: Derivative instruments $ 11,571 $ — $ 11,571 $ —

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Jan. 29, 2022
Segment Reporting [Abstract]
Information about Reportable Segments	The following tables present information about our reportable segments: Three Months Ended Nine Months Ended January 29, 2022 January 23, 2021 January 29, 2022 January 23, 2021 Consolidated net sales United States $ 1,329,051 $ 1,272,696 $ 4,006,576 $ 3,586,674 United Kingdom 168,568 178,260 545,321 507,347 Canada 98,977 100,312 308,736 256,252 Total $ 1,596,596 $ 1,551,268 $ 4,860,633 $ 4,350,273 Dental net sales United States $ 591,397 $ 584,868 $ 1,694,044 $ 1,553,097 Canada 59,236 64,078 185,671 157,892 Total $ 650,633 $ 648,946 $ 1,879,715 $ 1,710,989 Animal Health net sales United States $ 736,465 $ 679,853 $ 2,306,645 $ 2,014,970 United Kingdom 168,568 178,260 545,321 507,347 Canada 39,741 36,234 123,065 98,360 Total $ 944,774 $ 894,347 $ 2,975,031 $ 2,620,677 Corporate net sales United States $ 1,189 $ 7,975 $ 5,887 $ 18,607 Total $ 1,189 $ 7,975 $ 5,887 $ 18,607 Three Months Ended Nine Months Ended January 29, 2022 January 23, 2021 1 January 29, 2022 January 23, 2021 1 Consolidated net sales Consumable $ 1,237,127 $ 1,199,102 $ 3,923,613 $ 3,485,669 Equipment and software 276,446 266,628 683,711 616,286 Value-added services and other 83,023 85,538 253,309 248,318 Total $ 1,596,596 $ 1,551,268 $ 4,860,633 $ 4,350,273 Dental net sales Consumable $ 337,192 $ 342,561 $ 1,070,422 $ 957,013 Equipment and software 241,384 237,205 591,787 548,403 Value-added services and other 72,057 69,180 217,506 205,573 Total $ 650,633 $ 648,946 $ 1,879,715 $ 1,710,989 Animal Health net sales Consumable $ 899,935 $ 856,541 $ 2,853,191 $ 2,528,656 Equipment and software 35,062 29,423 91,924 67,883 Value-added services and other 9,777 8,383 29,916 24,138 Total $ 944,774 $ 894,347 $ 2,975,031 $ 2,620,677 Corporate net sales Value-added services and other $ 1,189 $ 7,975 $ 5,887 $ 18,607 Total $ 1,189 $ 7,975 $ 5,887 $ 18,607 1 Certain sales were reclassified between categories to conform to the current period presentation. Three Months Ended Nine Months Ended January 29, 2022 January 23, 2021 January 29, 2022 January 23, 2021 Operating income Dental $ 64,125 $ 61,291 $ 118,609 $ 172,017 Animal Health 23,420 20,615 73,360 55,605 Corporate (26,712) (20,225) (107,805) (54,363) Total $ 60,833 $ 61,681 $ 84,164 $ 173,259 January 29, 2022 April 24, 2021 Total assets Dental $ 893,996 $ 863,718 Animal Health 1,527,152 1,391,892 Corporate 442,348 495,901 Total $ 2,863,496 $ 2,751,511

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss ("AOCL") (Tables)	9 Months Ended
	Jan. 29, 2022
Equity [Abstract]
Summary of Accumulated Other Comprehensive Loss	The following table summarizes the changes in AOCL as of January 29, 2022: Cash Flow Hedges Currency Total AOCL at April 24, 2021 $ (4,496) $ (58,096) $ (62,592) Other comprehensive income before reclassifications — (5,742) (5,742) Amounts reclassified from AOCL 782 — 782 AOCL at January 29, 2022 $ (3,714) $ (63,838) $ (67,552)

General - Additional Informatio

General - Additional Information (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 29, 2022	Jan. 23, 2021	Jan. 29, 2022	Jan. 23, 2021
Accounting Policies [Abstract]
Income tax expense related to cash flow hedges	$ 80	$ 80	$ 241	$ 241
Securities excluded from calculation of diluted earnings per share (in shares)	828	638	758	1,207

General - Schedule of Other Inc

General - Schedule of Other Income, Net (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 29, 2022	Jan. 23, 2021	Jan. 29, 2022	Jan. 23, 2021
Accounting Policies [Abstract]
Gain (loss) on interest rate swap agreements	$ 3,688	$ 145	$ 5,805	$ (635)
Investment income and other	2,498	4,178	8,608	10,215
Other income, net	$ 6,186	$ 4,323	$ 14,413	$ 9,580

General - Computation of Basic

General - Computation of Basic and Diluted Earnings Per Share (EPS) (Detail) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Jan. 29, 2022	Jan. 23, 2021	Jan. 29, 2022	Jan. 23, 2021
Earnings Per Share [Abstract]
Denominator for basic earnings per share – weighted average shares (in shares)	97,471	95,734	97,213	95,472
Effect of dilutive securities - stock options, restricted stock and stock purchase plans (in shares)	1,083	1,219	1,237	907
Denominator for diluted earnings per share – weighted average shares (in shares)	98,554	96,953	98,450	96,379

General - Contract Balances (De

General - Contract Balances (Details) - USD ($) $ in Thousands	9 Months Ended
	Jan. 29, 2022	Apr. 24, 2021
Accounting Policies [Abstract]
Contract assets	$ 632	$ 2,491
Contract liability	24,104	$ 23,526
Contract liability, revenue recognized	$ 18,703

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jan. 29, 2022	Oct. 30, 2021	Jul. 31, 2021	Jan. 29, 2022	Jan. 23, 2021	Apr. 24, 2021
Asset Acquisition [Line Items]
Cash consideration paid				$ 19,793	$ 0
Goodwill	$ 140,670			140,670		$ 139,932
Miller Vet Holdings, LLC
Asset Acquisition [Line Items]
Cash consideration paid			$ 19,793
Liabilities assumed			$ 6,799
Identifiable intangibles	14,000			14,000
Goodwill	997			997
Tangible assets	4,796			$ 4,796
Goodwill (decrease) increase	$ 126	$ (192)

Receivables Securitization Pr_2

Receivables Securitization Program (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 29, 2022	Jan. 23, 2021	Jan. 29, 2022	Jan. 23, 2021	Apr. 24, 2021
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Proceeds from Receivables sold			$ 327,205	$ 291,074
Loss on sale of receivables	$ 663	$ (926)	2,278	2,075
Receivables Purchase Agreements
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Eligible receivables, maximum available under Purchase Agreement	200,000		200,000
Eligible receivables, amount utilized under Purchase Agreement	200,000		200,000
Receivables sold, fair value	$ 368,257		368,257		$ 384,950
Trade receivables sold			2,731,755	2,307,655
Proceeds from Receivables sold			$ 2,748,173	$ 2,251,129

Receivables Securitization Pr_3

Receivables Securitization Program - Activity in DPP Receivable (Details) - USD ($) $ in Thousands	9 Months Ended
	Jan. 29, 2022	Jan. 23, 2021
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Collection of DPP receivable	$ (918,354)	$ (634,499)
Receivables Purchase Agreements
Transfer of Certain Financial Assets Accounted for as Secured Borrowings [Line Items]
Beginning DPP receivable balance	183,999	117,327
Non-cash additions to DPP receivable	768,440	572,683
Collection of DPP receivable	(784,871)	(526,369)
Ending DPP receivable balance	$ 167,568	$ 163,641

Customer Financing (Detail)

Customer Financing (Detail)	3 Months Ended		9 Months Ended
	Jan. 29, 2022USD ($)	Jan. 23, 2021USD ($)	Jan. 29, 2022USD ($)financingAgreement	Jan. 23, 2021USD ($)	Apr. 24, 2021USD ($)
Customer Financing [Line Items]
Maximum credit financed for equipment purchases for any one customer	$ 1,000,000		$ 1,000,000
Number of customer financing contracts | financingAgreement			2
Financing contracts sold			$ 225,300,000	$ 245,552,000
Gain on sale of financing contracts	(663,000)	$ 926,000	(2,278,000)	(2,075,000)
Proceeds from Receivables sold			327,205,000	291,074,000
Cash and cash equivalents	165,044,000		165,044,000		$ 143,244,000
Current receivables of finance contracts not yet sold	65,191,000		65,191,000		50,638,000
Finance contracts receivable sold and outstanding	571,629,000		$ 571,629,000
Bad debt write-offs, percentage (less than)			1.00%
Unsettled Financing Arrangements
Customer Financing [Line Items]
Cash and cash equivalents	40,787,000		$ 40,787,000		$ 36,771,000
Customer Finance Contracts
Customer Financing [Line Items]
Gain on sale of financing contracts	(5,143,000)	$ (1,484,000)	$ (8,433,000)	$ (212,000)
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
Customer Financing [Line Items]
Percentage of principal amount of financing contracts held as collateral (at least)			15.00%
Capacity under agreement	525,000,000		$ 525,000,000
Fifth Third Bank
Customer Financing [Line Items]
Percentage of principal amount of financing contracts held as collateral (at least)			15.00%
Capacity under agreement	$ 100,000,000		$ 100,000,000

Customer Financing - Activity i

Customer Financing - Activity in DPP Receivables (Details) - USD ($) $ in Thousands	9 Months Ended
	Jan. 29, 2022	Jan. 23, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Collection of DPP receivable	$ (918,354)	$ (634,499)
Customer Finance Contracts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Beginning DPP receivable balance	227,967	228,019
Non-cash additions to DPP receivable	54,347	86,986
Collection of DPP receivable	(133,483)	(108,130)
Ending DPP receivable balance	$ 148,831	$ 206,875

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Detail) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Mar. 31, 2015	Jan. 29, 2022	Jan. 23, 2021	Jan. 29, 2022	Jan. 23, 2021	Apr. 24, 2021	Mar. 25, 2015	Jan. 31, 2014
Derivative [Line Items]
Gains or losses recognized in OCI on cash flow hedging derivative		$ 0	$ 0	$ 0	$ 0
Ineffectiveness recorded during period		0	0	0	0
Increase (decrease) in interest expense				(1,363,000)
Interest Rate Cap
Derivative [Line Items]
Derivative, notional amount		525,000,000		525,000,000
New Interest Rate Cap
Derivative [Line Items]
Derivative, notional amount		100,000,000		100,000,000
Interest Rate Swap Agreement
Derivative [Line Items]
Settlement of swap	$ 29,003,000		6,917,000	5,551,000
Interest Rate Swap Agreement | 5.17% Senior Notes
Derivative [Line Items]
Derivative, notional amount								$ 250,000,000
Percentage of senior notes								5.17%
Interest Rate Swap Agreement | Senior Notes 3.48%
Derivative [Line Items]
Percentage of senior notes							3.48%
Aggregate principal amount							$ 250,000,000
Interest Rate Swap
Derivative [Line Items]
Derivative, notional amount		516,099,000		516,099,000		$ 653,122,000
Increase (decrease) in interest expense		(341,000)	$ (341,000)	(1,023,000)	$ (1,023,000)
Interest Rate Swap Two
Derivative [Line Items]
Derivative, notional amount		$ 66,623,000		$ 66,623,000

Derivative Financial Instrume_4

Derivative Financial Instruments - Fair Value of Derivative Instruments Included in Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Jan. 29, 2022	Apr. 24, 2021
Derivatives, Fair Value [Line Items]
Interest rate contracts, assets, fair value	$ 7,407	$ 2,120
Interest rate contracts, liabilities, fair value	5,172	11,571
Interest rate contracts | Prepaid Expenses and Other Current Assets
Derivatives, Fair Value [Line Items]
Interest rate contracts, assets, fair value	1,355	0
Interest rate contracts | Other Noncurrent Assets
Derivatives, Fair Value [Line Items]
Interest rate contracts, assets, fair value	6,052	2,120
Interest rate contracts | Other Accrued Liabilities
Derivatives, Fair Value [Line Items]
Interest rate contracts, liabilities, fair value	1,408	3,776
Interest rate contracts | Other Noncurrent Liabilities
Derivatives, Fair Value [Line Items]
Interest rate contracts, liabilities, fair value	$ 3,764	$ 7,795

Derivative Financial Instrume_5

Derivative Financial Instruments - Effect of Derivative Instruments in Cash Flow Hedging Relationships on Condensed Consolidated Statements of Income and Other Comprehensive Income (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 29, 2022	Jan. 23, 2021	Jan. 29, 2022	Jan. 23, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated other comprehensive loss expected to be reclassified into earnings			$ (1,363)
Gain (loss) recognized in income on derivative	$ 3,688	$ 145	5,805	$ (635)
Interest rate contract
Derivative Instruments, Gain (Loss) [Line Items]
Accumulated other comprehensive loss expected to be reclassified into earnings	(341)	(341)	(1,023)	(1,023)
Interest rate contract | Other income, net | Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Gain (loss) recognized in income on derivative	$ 3,688	$ 145	$ 5,805	$ (635)

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Jan. 29, 2022	Apr. 24, 2021
Assets:
Cash equivalents	$ 10,854	$ 1,698
DPP receivable - receivables securitization program	167,568	183,999
DPP receivable - customer financing	148,831	227,967
Derivative instruments	7,407	2,120
Total assets	334,660	415,784
Liabilities:
Derivative instruments	5,172	11,571
Fair Value, Inputs, Level 1
Assets:
Cash equivalents	10,854	1,698
DPP receivable - receivables securitization program	0	0
DPP receivable - customer financing	0	0
Derivative instruments	0	0
Total assets	10,854	1,698
Liabilities:
Derivative instruments	0	0
Fair Value, Inputs, Level 2
Assets:
Cash equivalents	0	0
DPP receivable - receivables securitization program	0	0
DPP receivable - customer financing	0	0
Derivative instruments	7,407	2,120
Total assets	7,407	2,120
Liabilities:
Derivative instruments	5,172	11,571
Fair Value, Inputs, Level 3
Assets:
Cash equivalents	0	0
DPP receivable - receivables securitization program	167,568	183,999
DPP receivable - customer financing	148,831	227,967
Derivative instruments	0	0
Total assets	316,399	411,966
Liabilities:
Derivative instruments	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jan. 29, 2022	Jul. 31, 2021	Jan. 23, 2021	Jan. 29, 2022	Jan. 23, 2021	Oct. 30, 2021	Apr. 24, 2021
Schedule of Investments [Line Items]
Gains on investments	$ 13,092		$ 0	$ 100,919	$ 0
Estimated fair value of debt	498,771			498,771			$ 610,811
Carrying value of debt	488,353			488,353			588,295
Vetsource
Schedule of Investments [Line Items]
Carrying value of investment	56,849	$ 25,814		56,849			25,814
Proceeds from sale of investment		56,849
Gain on sale of investment		31,035
Noncash gain on investments		31,035
Gain on investment put option		$ 25,757
Gains on investments	87,827
Carrying value, put option	25,757			25,757
Vets Plus
Schedule of Investments [Line Items]
Carrying value of investment	2,355			$ 2,355		$ 4,009,000	$ 2,355
Proceeds from sale of investment	17,101
Gains on investments	$ 13,092

Income Taxes (Detail)

Income Taxes (Detail)	3 Months Ended		9 Months Ended
	Jan. 29, 2022	Jan. 23, 2021	Jan. 29, 2022	Jan. 23, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	24.80%	19.70%	24.80%	22.90%

Technology Partner Innovation_2

Technology Partner Innovations, LLC ("TPI") (Details) - USD ($) $ in Thousands	3 Months Ended					9 Months Ended
	Jan. 28, 2023	Jan. 29, 2022	Oct. 30, 2021	Jan. 23, 2021	Jul. 27, 2019	Jan. 29, 2022	Jan. 23, 2021	Apr. 24, 2021
Schedule of Equity Method Investments [Line Items]
Net loss attributable to noncontrolling interest		$ 431		$ 192		$ 1,017	$ 631
Noncontrolling interest		938				938		$ 1,455
Technology Partner Innovations, LLC
Schedule of Equity Method Investments [Line Items]
Net assets contributed		500	$ 500		$ 4,000
Net loss attributable to noncontrolling interest		431		$ 192		1,017	$ 631
Noncontrolling interest		938				$ 938
Technology Partner Innovations, LLC | Cure Partners
Schedule of Equity Method Investments [Line Items]
Net assets expected from noncontrolling Interests		$ 500
Technology Partner Innovations, LLC | Cure Partners | Subsequent Event | Forecast
Schedule of Equity Method Investments [Line Items]
Net assets expected from noncontrolling Interests	$ 500

Segment Reporting - Narrative (

Segment Reporting - Narrative (Detail)	9 Months Ended
	Jan. 29, 2022Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Segment Reporting - Information

Segment Reporting - Information about Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jan. 29, 2022	Jan. 23, 2021	Jan. 29, 2022	Jan. 23, 2021	Apr. 24, 2021
Segment Reporting Information [Line Items]
Net sales	$ 1,596,596	$ 1,551,268	$ 4,860,633	$ 4,350,273
Operating income	60,833	61,681	84,164	173,259
Total assets	2,863,496		2,863,496		$ 2,751,511
Consumable
Segment Reporting Information [Line Items]
Net sales	1,237,127	1,199,102	3,923,613	3,485,669
Equipment and software
Segment Reporting Information [Line Items]
Net sales	276,446	266,628	683,711	616,286
Value-added services and other
Segment Reporting Information [Line Items]
Net sales	83,023	85,538	253,309	248,318
Dental
Segment Reporting Information [Line Items]
Net sales	650,633	648,946	1,879,715	1,710,989
Dental | Operating Segments
Segment Reporting Information [Line Items]
Operating income	64,125	61,291	118,609	172,017
Total assets	893,996		893,996		863,718
Dental | Consumable
Segment Reporting Information [Line Items]
Net sales	337,192	342,561	1,070,422	957,013
Dental | Equipment and software
Segment Reporting Information [Line Items]
Net sales	241,384	237,205	591,787	548,403
Dental | Value-added services and other
Segment Reporting Information [Line Items]
Net sales	72,057	69,180	217,506	205,573
Animal Health
Segment Reporting Information [Line Items]
Net sales	944,774	894,347	2,975,031	2,620,677
Animal Health | Operating Segments
Segment Reporting Information [Line Items]
Operating income	23,420	20,615	73,360	55,605
Total assets	1,527,152		1,527,152		1,391,892
Animal Health | Consumable
Segment Reporting Information [Line Items]
Net sales	899,935	856,541	2,853,191	2,528,656
Animal Health | Equipment and software
Segment Reporting Information [Line Items]
Net sales	35,062	29,423	91,924	67,883
Animal Health | Value-added services and other
Segment Reporting Information [Line Items]
Net sales	9,777	8,383	29,916	24,138
Corporate
Segment Reporting Information [Line Items]
Net sales	1,189	7,975	5,887	18,607
Corporate | Operating Segments
Segment Reporting Information [Line Items]
Operating income	(26,712)	(20,225)	(107,805)	(54,363)
Total assets	442,348		442,348		$ 495,901
Corporate | Value-added services and other
Segment Reporting Information [Line Items]
Net sales	1,189	7,975	5,887	18,607
United States
Segment Reporting Information [Line Items]
Net sales	1,329,051	1,272,696	4,006,576	3,586,674
United States | Dental
Segment Reporting Information [Line Items]
Net sales	591,397	584,868	1,694,044	1,553,097
United States | Animal Health
Segment Reporting Information [Line Items]
Net sales	736,465	679,853	2,306,645	2,014,970
United States | Corporate
Segment Reporting Information [Line Items]
Net sales	1,189	7,975	5,887	18,607
United Kingdom
Segment Reporting Information [Line Items]
Net sales	168,568	178,260	545,321	507,347
United Kingdom | Animal Health
Segment Reporting Information [Line Items]
Net sales	168,568	178,260	545,321	507,347
Canada
Segment Reporting Information [Line Items]
Net sales	98,977	100,312	308,736	256,252
Canada | Dental
Segment Reporting Information [Line Items]
Net sales	59,236	64,078	185,671	157,892
Canada | Animal Health
Segment Reporting Information [Line Items]
Net sales	$ 39,741	$ 36,234	$ 123,065	$ 98,360

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss ("AOCL") - Summary of Accumulated Other Comprehensive Loss (Detail) $ in Thousands	9 Months Ended
	Jan. 29, 2022USD ($)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	$ 963,216
Ending Balance	1,043,240
Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(4,496)
Other comprehensive income before reclassifications	0
Amounts reclassified from AOCL	782
Ending Balance	(3,714)
Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(58,096)
Other comprehensive income before reclassifications	(5,742)
Amounts reclassified from AOCL	0
Ending Balance	(63,838)
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning Balance	(62,592)
Other comprehensive income before reclassifications	(5,742)
Amounts reclassified from AOCL	782
Ending Balance	$ (67,552)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss ("AOCL") - Additional Information (Detail) $ in Thousands	9 Months Ended
	Jan. 29, 2022USD ($)
Equity [Abstract]
Income tax expense related t cash flow hedges	$ 241
Increase in interest expense	$ 1,023

Legal Proceedings (Details)

Legal Proceedings (Details) - Plymouth County Retirement System v. Patterson Companies, Inc., Scott P. Anderson and Ann B. Gugino $ in Thousands	Aug. 27, 2021USD ($)	Oct. 30, 2021USD ($)	Jul. 31, 2021USD ($)	Mar. 28, 2018case
Loss Contingencies [Line Items]
Pending claims | case				1
Litigation settlement amount awarded to other party	$ 63,000
Expected from insurers	$ 35,000
Estimated Litigation Liability			$ 63,000
Insurance settlements receivable			27,000
Litigation settlement expenses			$ 36,000
Expected gain related to litigation settlement		$ 8,000