Patterson Companies (PDCO) 10-Q 10 Dec 15 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Oct. 31, 2015	Dec. 03, 2015
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Oct. 31, 2015
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	PDCO
Entity Registrant Name	PATTERSON COMPANIES, INC.
Entity Central Index Key	891,024
Current Fiscal Year End Date	--04-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		99,430,000

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Oct. 31, 2015	Apr. 25, 2015
Current assets:
Cash and cash equivalents	$ 95,451	$ 347,260
Short-term investments		53,372
Receivables, net of allowance for doubtful accounts	734,461	586,263
Inventory	752,849	408,422
Prepaid expenses and other current assets	83,169	59,561
Current assets held for sale		118,347
Total current assets	1,665,930	1,573,225
Property and equipment, net	272,190	204,133
Long-term receivables, net	75,784	71,686
Goodwill	817,595	299,924
Identifiable intangibles, net	537,079	125,025
Other	83,260	37,919
Long-term assets held for sale		635,794
Total assets	3,451,838	2,947,706
Current liabilities:
Accounts payable	492,469	323,294
Accrued payroll expense	47,671	72,464
Other accrued liabilities	162,225	142,611
Current maturities of long-term debt	15,991
Borrowings on revolving credit	80,000
Current liabilities held for sale		39,316
Total current liabilities	798,356	577,685
Long-term debt	1,034,884	725,000
Other non-current liabilities	255,341	81,484
Long-term liabilities held for sale		49,414
Total liabilities	2,088,581	1,433,583
Stockholders' equity:
Common stock	995	1,033
Additional paid-in capital	27,759	21,026
Accumulated other comprehensive loss	(63,626)	(60,346)
Retained earnings	1,475,867	1,630,148
Unearned ESOP shares	(77,738)	(77,738)
Total stockholders' equity	1,363,257	1,514,123
Total liabilities and stockholders' equity	$ 3,451,838	$ 2,947,706

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND OTHER COMPREHENSIVE INCOME (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2015	Oct. 25, 2014	Oct. 31, 2015	Oct. 25, 2014
Income Statement [Abstract]
Net sales	$ 1,389,210	$ 978,220	$ 2,532,080	$ 1,917,176
Cost of sales	1,058,311	718,933	1,912,937	1,407,272
Gross profit	330,899	259,287	619,143	509,904
Operating expenses	247,436	187,147	473,503	371,768
Operating income from continuing operations	83,463	72,140	145,640	138,136
Other income and expense:
Other income, net	954	777	1,624	2,147
Interest expense	(17,154)	(8,544)	(29,297)	(17,312)
Income from continuing operations before taxes	67,263	64,373	117,967	122,971
Income taxes	24,700	22,508	55,093	42,781
Net income from continuing operations	42,563	41,865	62,874	80,190
Net income (loss) from discontinued operations	(7,142)	11,913	2,250	23,877
Net income	$ 35,421	$ 53,778	$ 65,124	$ 104,067
Basic earnings (loss) per share:
Continuing operations	$ 0.43	$ 0.42	$ 0.64	$ 0.81
Discontinued operations	(0.07)	0.12	0.02	0.24
Net basic earnings per share	0.36	0.54	0.66	1.05
Diluted earnings (loss) per share:
Continuing operations	0.43	0.42	0.63	0.80
Discontinued operations	(0.07)	0.12	0.02	0.24
Net diluted earnings per share	$ 0.36	$ 0.54	$ 0.65	$ 1.04
Weighted average shares:
Basic	98,525	98,802	98,981	99,066
Diluted	99,185	99,376	99,674	99,779
Dividends declared per common share	$ 0.22	$ 0.20	$ 0.44	$ 0.40
Comprehensive income
Net income	$ 35,421	$ 53,778	$ 65,124	$ 104,067
Foreign currency translation gain (loss)	6,941	(36,816)	(4,334)	(26,506)
Cash flow hedges, net of tax	437	(3,867)	1,054	(6,176)
Comprehensive income	$ 42,799	$ 13,095	$ 61,844	$ 71,385

CONDENSED CONSOLIDATED STATEME4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Oct. 31, 2015	Oct. 25, 2014
Operating activities:
Net income	$ 65,124	$ 104,067
Net income from discontinued operations	2,250	23,877
Net income from continuing operations	62,874	80,190
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:
Depreciation	16,791	11,663
Amortization	21,609	9,351
Bad debt expense	5,674	809
Non-cash employee compensation	13,541	11,940
Accelerated amortization of debt issuance costs on early retirement of debt	5,153
Excess tax benefits from stock-based compensation	(1,686)	(175)
Change in assets and liabilities, net of acquired	(137,923)	(37,233)
Net cash (used in) provided by operating activities- continuing operations	(13,967)	76,545
Net cash (used in) provided by operating activities-discontinued operations	(38,985)	21,850
Net cash (used in) provided by operating activities	(52,952)	98,395
Investing activities:
Additions to property and equipment	(40,978)	(29,190)
Acquisitions and equity investments, net of cash assumed	(1,105,229)
Proceeds from sale of securities	48,744	40,775
Purchase of investments		(543)
Net cash (used in) provided by investing activities- continuing operations	(1,097,463)	11,042
Net cash provided by investing activities- discontinued operations	715,430	4,598
Net cash (used in) provided by investing activities	(382,033)	15,640
Financing activities:
Dividends paid	(45,356)	(40,174)
Repurchases of common stock	(160,579)	(47,539)
Proceeds from issuance of long-term debt	1,000,000
Debt issuance costs	(11,600)
Draw on revolver	80,000
Retirement of long-term debt	(674,125)
Other financing activities	2,894	844
Net cash provided by (used in) financing activities	191,234	(86,869)
Effect of exchange rate changes on cash	(8,058)	(7,202)
Net change in cash and cash equivalents	(251,809)	19,964
Cash and cash equivalents at beginning of period	347,260	264,908
Cash and cash equivalents at end of period	$ 95,451	$ 284,872

General

General	6 Months Ended
	Oct. 31, 2015
Accounting Policies [Abstract]
General	Note 1. 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. (“Patterson”) as of October 31, 2015, and our results of operations and cash flows for the periods ended October 31, 2015 and October 25, 2014. Such adjustments are of a normal recurring nature. The results of operations for the periods ended October 31, 2015 and October 25, 2014 are not necessarily indicative of the results to be expected for the full year. These financial statements should be read in conjunction with the financial statements included in our 2015 Annual Report on Form 10-K filed on June 24, 2015. Such unaudited condensed consolidated financial statements include the assets and liabilities of PDC Funding Company, LLC (“PDC Funding”) and PDC Funding Company II, LLC (“PDC Funding II”), wholly owned subsidiaries and separate legal entities 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. The assets of PDC Funding and PDC Funding II would be available first and foremost to satisfy the claims of its creditors. There are no known creditors of PDC Funding or PDC Funding II. Through fiscal 2015, Patterson was comprised of three reportable segments: dental supply, veterinary supply and rehabilitation supply. This fiscal year, we reorganized our reportable segments as a result of our acquisition of Animal Health International, Inc. and our divestiture of our wholly-owned subsidiary Patterson Medical Holdings, Inc., the entity through which we operated the rehabilitation supply business. We now present three different reportable segments: Dental, Animal Health and Corporate. Prior period segment results have been restated to conform to this revised current period presentation. Fiscal Year End We operate with a 52-53 week accounting convention with our fiscal year ending on the last Saturday in April. The second quarters of fiscal 2016 and 2015 include the 13 weeks ended October 31, 2015 and October 25, 2014, respectively. The six months ended October 31, 2015 and October 25, 2014 include 27 and 26 weeks, respectively. Fiscal 2016 will include 53 weeks and fiscal 2015 included 52 weeks of operations. 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 on earnings from foreign operations that are considered to be indefinitely reinvested outside the U.S. The income tax benefit/(loss) related to cash flow hedges was $(265) and $2,321 for the three months ended October 31, 2015 and October 25, 2014, respectively. The income tax benefit/(loss) related to cash flow hedges was $(350) and $7,134 for the six months ended October 31, 2015 and October 25, 2014, respectively. Earnings Per Share The following table sets forth the computation of the weighted average shares outstanding used to calculate basic and diluted earnings per share (“EPS”): Three Months Ended Six Months Ended October 31, October 25, October 31, October 25, 2015 2014 2015 2014 Denominator for basic EPS – weighted average shares 98,525 98,802 98,981 99,066 Effect of dilutive securities 660 574 693 713 Denominator for diluted EPS – weighted average shares 99,185 99,376 99,674 99,779 Potentially dilutive securities consisting of stock options, restricted stock and stock purchase plans representing 899 shares for the three and six months ended October 31, 2015 and 124 shares for the three and six months ended October 25, 2014 were excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive. Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” ASU No. 2014-09 supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605),” and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In July 2015, the FASB deferred the effective date of this pronouncement by one year to December 15, 2017 for interim and annual reporting periods beginning after that date. Early adoption is permitted, but not before the original effective date, which for annual periods was December 15, 2016. We are evaluating the new standard, but do not, at this time, anticipate a material impact to our financial statements once implemented. In July 2015, the FASB issued ASU No. 2015-11, “Inventory (Topic 330), Simplifying the Measurement of Inventory.” ASU 2015-11 requires inventory measured using any method other than last-in, first-out (LIFO) or the retail inventory method to be subsequently measured at the lower of cost or net realizable value, rather than at the lower of cost or market. Subsequent measurement of inventory using the LIFO and retail inventory method is unchanged. We are required to adopt the new pronouncement in the first quarter of fiscal 2018, and plan to do so at that time. Early adoption is permitted. We are evaluating the effect of adopting this pronouncement, but do not, at this time, anticipate a material impact to our financial statements once implemented. In August 2015, the FASB issued ASU No. 2015-15, “Interest – Imputation of Interest (Subtopic 835-30), Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements.” This ASU states that ASU No. 2015-03, “Interest – Imputation of Interest (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs” does not address debt issuance costs for line-of-credit arrangements, and therefore the SEC staff would not object to an entity deferring and presenting these related debt issuance costs as an asset and subsequently amortizing the deferred issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. At this time, we do not believe that ASU No. 2015-15 will have a material impact on our financial statements and related disclosures. In September 2015, the FASB issued ASU No. 2015-16, “Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments.” This ASU requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments in this ASU require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. We are required to adopt the new pronouncement in the first quarter of fiscal 2017, with early adoption permitted. We are evaluating the effect and timing of adopting this pronouncement, but do not, at this time, anticipate a material impact to the financial statements once implemented. In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes (Topic 740), Balance Sheet Classification of Income Taxes.” This ASU eliminates the current requirement for an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. This ASU requires that deferred tax liabilities and assets be classified as noncurrent in the classified statement of financial position. We are required to adopt the ASU in the first quarter of fiscal 2018, with early adoption permitted. We are evaluating the effect and timing of adopting this pronouncement, but do not, at this time, anticipate a material impact to the financial statements once implemented. Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation.

Acquisitions

Acquisitions	6 Months Ended
	Oct. 31, 2015
Business Combinations [Abstract]
Acquisitions	Note 2. Acquisitions During our first fiscal quarter of 2016, we completed the acquisition of Animal Health International, Inc., a leading production animal health distribution company in the U.S. This acquisition more than doubled the revenue previously attributable to our animal health business, which was previously focused on the companion animal health market. Our animal health business now offers an expanded range of products and services to a broader base of customers in North America and the U.K. Under terms of the merger agreement, we acquired all of Animal Health International’s stock for $1,100,000 in cash, subject to customary working capital adjustments. In connection with the acquisition, we entered into a credit agreement consisting of a $1,000,000 unsecured term loan and a $500,000 unsecured cash flow revolving line of credit, described further in Note 11 to the Condensed Consolidated Financial Statements. The acquisition has been accounted for in accordance with ASC 805, Business Combinations The following table summarizes the total purchase price consideration and the preliminary fair value amounts recognized for the assets acquired and liabilities assumed related to the acquisition, as of the acquisition date: Total purchase price consideration $ 1,108,203 Receivables $ 161,427 Inventory 195,367 Prepaid expenses and other current assets 33,005 Property and equipment 44,178 Identifiable intangibles 434,300 Other long-term assets 40,869 Total assets acquired 909,146 Accounts payable 122,129 Accrued liabilities and other current liabilities 19,395 Deferred tax liability 177,789 Total liabilities assumed 319,313 Identifiable net assets acquired 589,833 Goodwill 518,370 Net assets acquired $ 1,108,203 As a result of recording the stepped up fair market basis for GAAP purposes, but receiving primarily carryover basis for tax purposes in the acquisition, we recorded a deferred tax asset and deferred tax liability of $2,569 and $177,789, respectively. The goodwill of $518,370 resulting from the acquisition reflects the excess of our purchase price over the fair value of the net assets acquired. An adjustment to increase goodwill by $499 was recorded in the second quarter of fiscal 2016 as a result of working capital adjustments. The goodwill recorded as part of the acquisition primarily reflects the value of the assembled workforce, cost synergies, and the potential to integrate and expand existing product lines. We allocated all of the goodwill to our Animal Health reporting segment. None of the goodwill recognized is deductible for income tax purposes, and as such, no deferred taxes have been recorded related to goodwill. Revenues of $585,950 and operating income of $12,369 attributable to the acquisition are included in our condensed consolidated statement of income for the six months ended October 31, 2015. Included in operating income for the six months ended October 31, 2015 is amortization expense of $12,048 related to the identifiable intangible assets acquired in the transaction. The following summarizes the intangible assets, excluding goodwill, acquired as of June 16, 2015. Intangible assets are amortized using methods that approximate the pattern of economic benefit provided by the utilization of the assets. Gross Carrying Weighted Unamortized – indefinite lived: Trade names $ 12,300 indefinite Amortized: Customer relationships 291,900 15.0 Trade names 111,400 10.0 Developed technology and other 18,700 12.2 Total amortized intangible assets 422,000 13.6 Total identifiable intangible assets $ 434,300 The following unaudited pro forma financial results for the combined results of Patterson and Animal Health International for the six month periods ended October 31, 2015 and October 25, 2014 assume the acquisition occurred on April 27, 2014. The unaudited pro forma financial results may not be indicative of the results that would have occurred had the acquisition been completed as of April 27, 2014, nor are they indicative of future results of operations. Six Months Ended October 31, October 25, 2015 2014 Pro forma net sales $ 2,725,116 $ 2,650,613 Pro forma net income from continuing operations 70,957 74,754 Pro forma net income from continuing operations for the six month period ended October 31, 2015 includes $12,300 of income tax expense related to the repatriation of foreign earnings, described further in Note 12 to the Condensed Consolidated Financial Statements.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Oct. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Note 3. Discontinued Operations On July 1, 2015, we entered into a definitive agreement to sell all of the outstanding shares of common stock of Patterson Medical Holdings, Inc., our wholly owned subsidiary responsible for our rehabilitation supply business known as Patterson Medical (“Patterson Medical”), for $715,000 in cash to Madison Dearborn Partners. The definitive agreement includes a working capital adjustment provision that impacts the final sale price. On August 28, 2015, we completed the sale of Patterson Medical for $718,078, with such sales price including the above-described working capital adjustment. As additional consideration for the shares of Patterson Medical, we obtained a number of common units of the parent company of the buyer equal to 10% of the common units outstanding at closing. Unlike the other common units, these units will only become entitled to begin participating in distributions to the common unit holders at such time, if any, as the Madison Dearborn Partners’ investor cash inflows equal or exceed 2.5 times the Madison Dearborn Partners’ investor cash outflows. These units are non-transferrable. We recorded a pre-tax gain of $25,520 on the sale of Patterson Medical during the second quarter of fiscal 2016 within discontinued operations in the condensed consolidated statements of income. In connection with the above described transaction, we also entered into a transition services agreement with our former subsidiary, pursuant to which Patterson Medical Holdings, Inc., as owned by Madison Dearborn Partners, is paying us to provide, among other things, certain information technology, distribution, facilities, finance, tax and treasury, and human resources services for up to 24 months after closing. As of October 31, 2015, we classified Patterson Medical’s results of operations as discontinued operations for all periods presented in the condensed consolidated statements of income. The assets and liabilities of Patterson Medical were reflected as held for sale in the condensed consolidated balance sheets as of April 25, 2015. The classification was based on our entering into the definitive agreement to sell Patterson Medical during the first quarter of fiscal 2016, the entity being available for sale in its present condition at that time and the sale being completed in the second quarter of fiscal 2016. The operations and cash flows of Patterson Medical have been eliminated from our continuing operations, which were previously recorded as the rehabilitation supply reportable segment. The following summarizes the assets and liabilities of Patterson Medical as of April 25, 2015: April 25, 2015 Assets held for sale Receivables, net of allowance for doubtful accounts $ 57,876 Inventory 48,265 Prepaid expenses and other current assets 12,206 Property and equipment, net 22,672 Goodwill 537,175 Identifiable intangibles, net 74,804 Other long-term assets 1,143 Total assets held for sale $ 754,141 Liabilities held for sale Accounts payable $ 26,341 Accrued liabilities and other current liabilities 12,975 Long-term liabilities 49,414 Total liabilities held for sale $ 88,730 The following summarizes the results of operations of our discontinued Patterson Medical operations for the periods presented: Three Months Ended Six Months Ended October 31, (a) October 25, 2014 October 31, 2015 October 25, Net sales $ 37,693 $ 125,105 $ 168,504 $ 245,678 Cost of sales 24,486 78,570 107,359 153,535 Operating expenses 22,915 27,454 54,954 54,304 Gain on sale (25,520 ) — (25,520 ) — Other expense (income) 60 17 150 (115 ) Income before taxes 15,752 19,064 31,561 37,954 Income taxes 22,894 7,151 29,311 14,077 Net income from discontinued operations $ (7,142 ) $ 11,913 $ 2,250 $ 23,877 (a) Includes activity up until the sale date of August 28, 2015. Operating expenses for the three and six months ended October 31, 2015 include professional fees of $9,842 and $13,692, respectively, incurred in connection with the sale of Patterson Medical. Depreciation and amortization were ceased during the three and six months ended October 31, 2015 in accordance with accounting for discontinued operations. Income taxes have been allocated to Patterson Medical based on the accounting requirements for presenting discontinued operations. Income taxes as a percent of income before taxes for both the three and six months ended October 31, 2015 are higher than in the respective prior periods as a result of the requirement to calculate the tax due on the sale of Patterson Medical including certain basis differences that were appropriately not previously recognized for financial reporting purposes.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Oct. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 4. Goodwill and Other Intangible Assets Goodwill balances and related activity by business segment are as follows: Balance at Acquisition Other Activity Balance at Corporate $ — $ — $ — $ — Dental 139,449 — (738 ) 138,711 Animal Health 160,475 518,370 39 678,884 Total $ 299,924 $ 518,370 $ (699 ) $ 817,595 Balances of other intangible assets, excluding goodwill, are as follows: October 31, April 25, 2015 2015 Unamortized – indefinite lived: Copyrights, trade names and trademarks $ 29,900 $ 17,600 Amortized: Distribution agreement, customer lists and other 642,614 221,359 Less: Accumulated amortization (135,435 ) (113,934 ) Net amortized intangible assets 507,179 107,425 Total identifiable intangible assets, net $ 537,079 $ 125,025

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Oct. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Note 5. Derivative Financial Instruments Patterson is a party to certain offsetting and identical interest rate cap agreements. These interest rate cap agreements are not designated for hedge accounting treatment and were entered into to fulfill certain covenants of an equipment finance contracts sale agreement between a commercial paper conduit managed by The Bank of Tokyo-Mitsubishi UFJ, Ltd. and PDC Funding. On November 25, 2014, this sale agreement was amended on terms generally consistent with the expiring agreement. The interest rate cap agreements provide a credit enhancement feature for the financing contracts sold by PDC Funding to the commercial paper conduit. The interest rate cap agreements are cancelled and new agreements entered into periodically to maintain consistency with the dollar maximum of the sale agreements and the maturity of the underlying financing contracts. As of October 31, 2015, PDC Funding had purchased an interest rate cap from a bank with a notional amount of $500,000 and a maturity date of February 2022. Patterson sold an identical interest rate cap to the same bank. Similar to the above agreements, PDC Funding II and Patterson entered into offsetting and identical interest rate cap agreements with a notional amount of $100,000 in fiscal 2014. In August 2015, these agreements were terminated and replaced with offsetting and identical interest rate cap agreements. The notional amount remained at $100,000 and the new maturity date is July 2023. In addition to the purchased and sold identical interest rate cap agreements described above, in May 2012 we entered into an interest rate swap agreement with a bank to economically hedge the interest rate risk associated with a portion of the finance contracts we had sold through the special purpose entities. This agreement expired in April 2015. These interest rate contracts 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 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 as cash flow hedge, to hedge interest rate fluctuations in anticipation of refinancing the 5.17% senior notes due March 25, 2015 with a loan for $250,000 and a term of ten years. This note was 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 will be recognized as interest expense over the ten-year life of the new notes. The following presents the fair value of interest rate contracts included in the condensed consolidated balance sheets: October 31, April 25, Derivative type Classification 2015 2015 Interest rate contracts Other noncurrent assets $ 835 $ 1,255 Interest rate contracts Other noncurrent liabilities 835 1,255 The following table presents the effect of interest rate contracts on the condensed consolidated statements of income and other comprehensive income (OCI): Three Months Ended Six Months Ended Derivative type Location of gain/(loss) recognized on derivative October 31, October 25, October 31, October 25, Interest rate swap OCI $ 437 $ (3,867 ) $ 1,054 $ (6,176 ) We recorded $703 of interest expense during the three months ended October 31, 2015, and $49 as a reduction to interest expense in the three months ended October 25, 2014 related to the interest rate swap. We recorded $1,405 of interest expense during the six months ended October 31, 2015, and $97 as a reduction to interest expense in the six months ended October 25, 2014 related to the interest rate swap. We recorded no ineffectiveness during the three and six month periods ended October 31, 2015 and October 25, 2014.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Oct. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 6. 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: October 31, 2015 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 4,949 $ 4,949 $ — $ — Derivative instruments 835 — 835 — Total assets $ 5,784 $ 4,949 $ 835 $ — Liabilities: Derivative instruments $ 835 $ — $ 835 $ — April 25, 2015 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 90,569 $ 90,569 $ — $ — Derivative instruments 1,255 — 1,255 — Total assets $ 91,824 $ 90,569 $ 1,255 $ — Liabilities: Derivative instruments $ 1,255 $ — $ 1,255 $ — Cash equivalents Derivative instruments 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, such as when there is evidence of impairment. There were no fair value adjustments to such assets during the six-month periods ended October 31, 2015 or October 25, 2014. Our debt is not measured at fair value in the condensed consolidated balance sheets. The estimated fair value of our debt as of October 31, 2015 and April 25, 2015 was $1,058,425 and $746,685, 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 October 31, 2015 and April 25, 2015.

Securities

Securities	6 Months Ended
	Oct. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Securities	Note 7. Securities On October 25, 2013, we invested in three time deposits with total principal of $110,000 Canadian. On October 24, 2014, time deposits with a principal value of $45,000 Canadian matured with a value of $45,436 Canadian. The remaining time deposits with a principal value of $65,000 Canadian matured on October 28, 2015 with a value of $67,031 Canadian. Our time deposit securities were classified as held-to-maturity securities as of April 25, 2015, as we had both the intent and ability to hold them until maturity. They were carried at cost, adjusted for accrued interest and amortization. The carrying value was not materially different than fair value. The fair value was determined based on a discounted cash flow analysis using unobservable inputs (i.e. level 3 inputs), which included 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 have resulted in a materially lower fair value estimate. The interrelationship between these inputs was insignificant.

Customer Financing

Customer Financing	6 Months Ended
	Oct. 31, 2015
Text Block [Abstract]
Customer Financing	Note 8. Customer Financing As a convenience to our customers, we offer several different financing alternatives, including a third party program and a Company-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 our sponsored program, equipment purchased by customers with strong credit may be financed up to a maximum of $500 for any one customer. We generally sell our customers’ financing contracts to outside financial institutions in the normal course of our business. We currently have two arrangements under which we sell these contracts. First, we operate under an agreement to sell a portion of our equipment finance contracts to commercial paper conduits with The Bank of Tokyo-Mitsubishi UFJ, Ltd. serving as the agent. We utilize a special purpose entity (“SPE”), PDC Funding, a consolidated, wholly owned subsidiary, to fulfill a requirement of participating in the commercial paper conduit. We receive the proceeds of the contracts upon sale. At least 13% of the proceeds are held by the conduit as security against eventual performance of the portfolio. The capacity under the agreement at October 31, 2015 was $500,000. Second, we also maintain an agreement with Fifth Third Bank whereby the bank purchases customers’ financing contracts. We established another SPE, PDC Funding II, a consolidated, wholly owned subsidiary, which sells financing contracts to the bank. We receive the proceeds of the contracts upon sale. At least 14% of the proceeds are held by the conduit as security against eventual performance of the portfolio. The capacity under the agreement at October 31, 2015 was $100,000. The portion of the purchase price for the receivables held by the conduits is a deferred purchase price receivable, which is paid to the SPE as payments on the receivables are collected from customers. The deferred purchase price receivable represents a beneficial interest in the transferred financial assets and is recognized at fair value as part of the sale transaction. We value the deferred purchase price receivable based on a discounted cash flow analysis using unobservable inputs (i.e. level 3 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. These financing arrangements are accounted for as a sale of assets under the provisions of ASC 860, Transfers and Servicing Included in cash and cash equivalents in the condensed consolidated balance sheets are $24,793 and $29,863 as of October 31, 2015 and April 25, 2015, respectively, which represents cash collected from previously sold customer financing arrangements that have not yet been settled with the third party. Included in current receivables in the condensed consolidated balance sheets are $105,852, net of unearned income of $6,781, and $88,470, net of unearned income of $4,197, as of October 31, 2015 and April 25, 2015, respectively, of finance contracts we have not yet sold. A total of $529,484 of finance contracts receivable sold under the agreements was outstanding at October 31, 2015. The deferred purchase price under the arrangements was $67,550 and $66,715 as of October 31, 2015 and April 25, 2015, respectively. Since the internal financing program began in 1994, bad debt write-offs have amounted to less than one-percent of the loans originated.

Segment Reporting

Segment Reporting	6 Months Ended
	Oct. 31, 2015
Segment Reporting [Abstract]
Segment Reporting	Note 9. Segment Reporting Through fiscal 2015, Patterson was comprised of three reportable segments: dental supply, veterinary supply and rehabilitation supply. This fiscal year, we reorganized our reportable segments as a result of our acquisition of Animal Health International, Inc. and our divestiture of our wholly-owned subsidiary Patterson Medical Holdings, Inc., the entity through which we operated the rehabilitation supply business. We now present three different reportable segments: Dental, Animal Health and Corporate. Prior period segment results have been restated to conform to this revised current period presentation. Our Dental and Animal Health reportable business segments 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 and dental laboratories throughout North America. Animal Health, formerly our Patterson Veterinary reportable segment, 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, which was previously included in our dental supply reporting segment through the end of fiscal 2015, 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 distribution centers are allocated to the operating units based on the through-put of the unit. The following table presents information about Patterson’s reportable segments: Three Months Ended Six Months Ended October 31, October 25, October 31, October 25, 2015 2014 2015 2014 Net sales Corporate $ 13,435 $ 9,110 $ 23,891 $ 18,892 Dental 601,322 592,636 1,176,439 1,135,510 Animal Health 774,453 376,474 1,331,750 762,774 Consolidated net sales $ 1,389,210 $ 978,220 $ 2,532,080 $ 1,917,176 Operating income (loss) from continuing operations Corporate $ (15,808 ) $ (15,623 ) $ (33,855 ) $ (26,163 ) Dental 74,094 73,427 141,346 135,976 Animal Health 25,177 14,336 38,149 28,323 Consolidated operating income from continuing operations $ 83,463 $ 72,140 $ 145,640 $ 138,136 October 31, 2015 April 25, 2015 Total assets Corporate $ 469,101 $ 539,863 Dental 900,668 1,022,257 Animal Health 2,082,069 631,445 Total assets, excluding assets held for sale 3,451,838 2,193,565 Assets held for sale — 754,141 Total assets $ 3,451,838 $ 2,947,706 The following table presents sales information by product for all of Patterson’s reportable segments: Three Months Ended Six Months Ended October 31, October 25, October 31, October 25, 2015 2014 2015 2014 Net sales Consumables $ 1,087,489 $ 686,165 $ 1,982,796 $ 1,381,804 Equipment and software 207,809 204,409 361,292 360,803 Other 93,912 87,646 187,992 174,569 Consolidated net sales $ 1,389,210 $ 978,220 $ 2,532,080 $ 1,917,176

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Oct. 31, 2015
Equity [Abstract]
Accumulated Other Comprehensive Loss	Note 10. Accumulated Other Comprehensive Loss The following table summarizes accumulated other comprehensive loss (AOCL) at October 31, 2015 and April 25, 2015 and the activity for fiscal 2016: Cash Flow Hedges Currency Translation Adjustment Total AOCL at April 25, 2015 $ (18,668 ) $ (41,678 ) $ (60,346 ) Other comprehensive loss before reclassifications — (15,417 ) (15,417 ) Amounts reclassified from AOCL 1,054 11,083 12,137 AOCL at October 31, 2015 $ (17,614 ) $ (46,012 ) $ (63,626 ) The amounts reclassified from AOCL during fiscal 2016 represent gains and losses on cash flow hedges, net of taxes of $350, and amounts reclassified related to the divestiture of Patterson Medical of $11,083. The net impact to the condensed consolidated statements of income was an increase to interest expense of $1,405.

Debt Issuance

Debt Issuance	6 Months Ended
	Oct. 31, 2015
Debt Disclosure [Abstract]
Debt Issuance	Note 11. Debt Issuance During the first quarter of fiscal 2016, we entered into a credit agreement with The Bank of Tokyo-Mitsubishi UFJ, Ltd., as administrative agent, and Bank of America, N.A., as syndication agent, (the “Credit Agreement”). Pursuant to the Credit Agreement, the lenders provided us with senior unsecured lending facilities of up to $1,500,000, consisting of a $1,000,000 unsecured term loan and a $500,000 unsecured revolving line of credit. Interest on borrowings under the Credit Agreement is based on LIBOR plus a spread which can range from 1.125% to 2.000%. This spread, as well as a commitment fee on the unused portion of the facility, are based on our leverage ratio, as defined in the Credit Agreement. The initial interest rate under the Credit Agreement is LIBOR plus 2.000%. Initial borrowings under the Credit Agreement were $1,000,000 under the unsecured term loan and $200,000 under the unsecured revolving line of credit. The term loan and revolving credit facilities will mature no later than June 16, 2020. Upon certain significant asset dispositions, we agreed to use proceeds from such dispositions to effect prepayment of outstanding loan balances under the Credit Agreement. On August 28, 2015, we completed the sale of Patterson Medical, as described further in Note 3 to the Condensed Consolidated Financial Statements. As a result of this sale, $670,000 was repaid on the original outstanding $1,000,000 unsecured term loan. We recorded $5,153 of accelerated debt issuance cost amortization within interest expense concurrent with this early repayment of debt. Additionally, a $4,125 principal payment was made during the three months ended October 31, 2015. As of October 31, 2015, $325,875 was outstanding under the unsecured term loan. We are subject to various financial covenants under the Credit Agreement including the maintenance of leverage and interest coverage ratios. In the event of our default, any outstanding obligations may become due and payable immediately. We met the covenants under the Credit Agreement as of October 31, 2015. On June 16, 2015, our previous $300,000 credit facility, which was due to expire in December 2016, was terminated and replaced by the revolving line of credit under the Credit Agreement. As of October 31, 2015, $80,000 was outstanding under our current revolving line of credit. There were no outstanding borrowings under our current or previous revolving lines of credit at April 25, 2015.

Income Taxes

Income Taxes	6 Months Ended
	Oct. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Note 12. Income Taxes The effective income tax rate for the three months ended October 31, 2015 was 36.7% compared to 35.0% for the three months ended October 25, 2014, and for the six months ended October 31, 2015 was 46.7% compared to 34.8% for the six months ended October 25, 2014. The increases in the rates for both periods were primarily due to the current year impact of cash repatriation and the impact of transaction-related costs incurred related to the acquisition of Animal Health International, Inc. In the first quarter of fiscal 2016, we approved a one-time repatriation of approximately $200,000 of foreign earnings. This one-time repatriation reduced the overall cost of funding the acquisition of Animal Health International, Inc. In addition, certain foreign cash at Patterson Medical was required to be repatriated as part of the sale transaction. The continuing operations tax impact of $12,300 from the repatriation was recorded during the first six months of fiscal 2016. We have previously asserted that our foreign earnings are permanently reinvested. Except for the repatriations described above, there is no change in our on-going assertion.

Legal Proceedings

Legal Proceedings	6 Months Ended
	Oct. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings	Note 13. Legal Proceedings In September 2015, we were served with a summons and complaint in an action commenced in the United States District Court for the Eastern District of New York, entitled SourceOne Dental, Inc. v. Patterson Companies, Inc., Henry Schein, Inc. and Benco Dental Supply Company, Civil Action No. 15-cv-05440-JMA-GRB. SourceOne, as plaintiff, alleges that, through its website, it markets and sells dental supplies and equipment to dentists. SourceOne alleges in the complaint, among other things, that we, along with the defendants Henry Schein and Benco, conspired to eliminate plaintiff as a competitor and to exclude them from the market for the marketing, distribution and sale of dental supplies and equipment in the United States and that defendants unlawfully agreed with one another to boycott dentists, manufacturers, and state dental associations that deal with, or considered dealing with, plaintiff. Plaintiff asserts the following claims: (i) unreasonable restraint of trade in violation of state and federal antitrust laws; (ii) tortious interference with prospective business relations; (iii) civil conspiracy; and (iv) aiding and abetting the other defendants’ ongoing tortious and anticompetitive conduct. Plaintiff seeks equitable relief, compensatory and treble damages, jointly and severally, punitive damages, interest, and reasonable costs and expenses, including attorneys’ fees and expert fees. Plaintiff has not specified a damage amount in its complaint. We intend to defend ourselves against the action vigorously. We do not anticipate that this matter will have a material adverse effect on our financial condition.

General (Policies)

General (Policies)	6 Months Ended
	Oct. 31, 2015
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. (“Patterson”) as of October 31, 2015, and our results of operations and cash flows for the periods ended October 31, 2015 and October 25, 2014. Such adjustments are of a normal recurring nature. The results of operations for the periods ended October 31, 2015 and October 25, 2014 are not necessarily indicative of the results to be expected for the full year. These financial statements should be read in conjunction with the financial statements included in our 2015 Annual Report on Form 10-K filed on June 24, 2015. Such unaudited condensed consolidated financial statements include the assets and liabilities of PDC Funding Company, LLC (“PDC Funding”) and PDC Funding Company II, LLC (“PDC Funding II”), wholly owned subsidiaries and separate legal entities 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. The assets of PDC Funding and PDC Funding II would be available first and foremost to satisfy the claims of its creditors. There are no known creditors of PDC Funding or PDC Funding II. Through fiscal 2015, Patterson was comprised of three reportable segments: dental supply, veterinary supply and rehabilitation supply. This fiscal year, we reorganized our reportable segments as a result of our acquisition of Animal Health International, Inc. and our divestiture of our wholly-owned subsidiary Patterson Medical Holdings, Inc., the entity through which we operated the rehabilitation supply business. We now present three different reportable segments: Dental, Animal Health and Corporate. Prior period segment results have been restated to conform to this revised current period presentation.
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 second quarters of fiscal 2016 and 2015 include the 13 weeks ended October 31, 2015 and October 25, 2014, respectively. The six months ended October 31, 2015 and October 25, 2014 include 27 and 26 weeks, respectively. Fiscal 2016 will include 53 weeks and fiscal 2015 included 52 weeks of operations.
Comprehensive Income	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 on earnings from foreign operations that are considered to be indefinitely reinvested outside the U.S. The income tax benefit/(loss) related to cash flow hedges was $(265) and $2,321 for the three months ended October 31, 2015 and October 25, 2014, respectively. The income tax benefit/(loss) related to cash flow hedges was $(350) and $7,134 for the six months ended October 31, 2015 and October 25, 2014, respectively.
Earnings Per Share	Earnings Per Share The following table sets forth the computation of the weighted average shares outstanding used to calculate basic and diluted earnings per share (“EPS”): Three Months Ended Six Months Ended October 31, October 25, October 31, October 25, 2015 2014 2015 2014 Denominator for basic EPS – weighted average shares 98,525 98,802 98,981 99,066 Effect of dilutive securities 660 574 693 713 Denominator for diluted EPS – weighted average shares 99,185 99,376 99,674 99,779 Potentially dilutive securities consisting of stock options, restricted stock and stock purchase plans representing 899 shares for the three and six months ended October 31, 2015 and 124 shares for the three and six months ended October 25, 2014 were excluded from the calculation of diluted earnings per share because their effect would have been anti-dilutive.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue from Contracts with Customers (Topic 606).” ASU No. 2014-09 supersedes the revenue recognition requirements in “Revenue Recognition (Topic 605),” and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. In July 2015, the FASB deferred the effective date of this pronouncement by one year to December 15, 2017 for interim and annual reporting periods beginning after that date. Early adoption is permitted, but not before the original effective date, which for annual periods was December 15, 2016. We are evaluating the new standard, but do not, at this time, anticipate a material impact to our financial statements once implemented. In July 2015, the FASB issued ASU No. 2015-11, “Inventory (Topic 330), Simplifying the Measurement of Inventory.” ASU 2015-11 requires inventory measured using any method other than last-in, first-out (LIFO) or the retail inventory method to be subsequently measured at the lower of cost or net realizable value, rather than at the lower of cost or market. Subsequent measurement of inventory using the LIFO and retail inventory method is unchanged. We are required to adopt the new pronouncement in the first quarter of fiscal 2018, and plan to do so at that time. Early adoption is permitted. We are evaluating the effect of adopting this pronouncement, but do not, at this time, anticipate a material impact to our financial statements once implemented. In August 2015, the FASB issued ASU No. 2015-15, “Interest – Imputation of Interest (Subtopic 835-30), Presentation and Subsequent Measurement of Debt Issuance Costs Associated with Line-of-Credit Arrangements.” This ASU states that ASU No. 2015-03, “Interest – Imputation of Interest (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs” does not address debt issuance costs for line-of-credit arrangements, and therefore the SEC staff would not object to an entity deferring and presenting these related debt issuance costs as an asset and subsequently amortizing the deferred issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. At this time, we do not believe that ASU No. 2015-15 will have a material impact on our financial statements and related disclosures. In September 2015, the FASB issued ASU No. 2015-16, “Business Combinations (Topic 805), Simplifying the Accounting for Measurement-Period Adjustments.” This ASU requires that an acquirer recognize adjustments to provisional amounts that are identified during the measurement period in the reporting period in which the adjustment amounts are determined. The amendments in this ASU require an entity to present separately on the face of the income statement or disclose in the notes the portion of the amount recorded in current-period earnings by line item that would have been recorded in previous reporting periods if the adjustment to the provisional amounts had been recognized as of the acquisition date. We are required to adopt the new pronouncement in the first quarter of fiscal 2017, with early adoption permitted. We are evaluating the effect and timing of adopting this pronouncement, but do not, at this time, anticipate a material impact to the financial statements once implemented. In November 2015, the FASB issued ASU No. 2015-17, “Income Taxes (Topic 740), Balance Sheet Classification of Income Taxes.” This ASU eliminates the current requirement for an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. This ASU requires that deferred tax liabilities and assets be classified as noncurrent in the classified statement of financial position. We are required to adopt the ASU in the first quarter of fiscal 2018, with early adoption permitted. We are evaluating the effect and timing of adopting this pronouncement, but do not, at this time, anticipate a material impact to the financial statements once implemented.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation.

General (Tables)

General (Tables)	6 Months Ended
	Oct. 31, 2015
Accounting Policies [Abstract]
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 earnings per share (“EPS”): Three Months Ended Six Months Ended October 31, October 25, October 31, October 25, 2015 2014 2015 2014 Denominator for basic EPS – weighted average shares 98,525 98,802 98,981 99,066 Effect of dilutive securities 660 574 693 713 Denominator for diluted EPS – weighted average shares 99,185 99,376 99,674 99,779

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Oct. 31, 2015
Business Combinations [Abstract]
Summary of Total Purchase Price Consideration and Preliminary Fair Value of Assets Acquired and Liabilities Assumed	The following table summarizes the total purchase price consideration and the preliminary fair value amounts recognized for the assets acquired and liabilities assumed related to the acquisition, as of the acquisition date: Total purchase price consideration $ 1,108,203 Receivables $ 161,427 Inventory 195,367 Prepaid expenses and other current assets 33,005 Property and equipment 44,178 Identifiable intangibles 434,300 Other long-term assets 40,869 Total assets acquired 909,146 Accounts payable 122,129 Accrued liabilities and other current liabilities 19,395 Deferred tax liability 177,789 Total liabilities assumed 319,313 Identifiable net assets acquired 589,833 Goodwill 518,370 Net assets acquired $ 1,108,203
Summary of Acquired Intangible Assets Excluding Goodwill	The following summarizes the intangible assets, excluding goodwill, acquired as of June 16, 2015. Intangible assets are amortized using methods that approximate the pattern of economic benefit provided by the utilization of the assets. Gross Carrying Weighted Unamortized – indefinite lived: Trade names $ 12,300 indefinite Amortized: Customer relationships 291,900 15.0 Trade names 111,400 10.0 Developed technology and other 18,700 12.2 Total amortized intangible assets 422,000 13.6 Total identifiable intangible assets $ 434,300
Summary of Unaudited Pro Forma Financial Result	The unaudited pro forma financial results may not be indicative of the results that would have occurred had the acquisition been completed as of April 27, 2014, nor are they indicative of future results of operations. Six Months Ended October 31, October 25, 2015 2014 Pro forma net sales $ 2,725,116 $ 2,650,613 Pro forma net income from continuing operations 70,957 74,754

Discontinued Operations (Tables

Discontinued Operations (Tables)	6 Months Ended
	Oct. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Summary of Assets and Liabilities Held For Sale and Results of Operations Under Discontinued Operation Activities	The following summarizes the assets and liabilities of Patterson Medical as of April 25, 2015: April 25, 2015 Assets held for sale Receivables, net of allowance for doubtful accounts $ 57,876 Inventory 48,265 Prepaid expenses and other current assets 12,206 Property and equipment, net 22,672 Goodwill 537,175 Identifiable intangibles, net 74,804 Other long-term assets 1,143 Total assets held for sale $ 754,141 Liabilities held for sale Accounts payable $ 26,341 Accrued liabilities and other current liabilities 12,975 Long-term liabilities 49,414 Total liabilities held for sale $ 88,730 The following summarizes the results of operations of our discontinued Patterson Medical operations for the periods presented: Three Months Ended Six Months Ended October 31, (a) October 25, 2014 October 31, 2015 October 25, Net sales $ 37,693 $ 125,105 $ 168,504 $ 245,678 Cost of sales 24,486 78,570 107,359 153,535 Operating expenses 22,915 27,454 54,954 54,304 Gain on sale (25,520 ) — (25,520 ) — Other expense (income) 60 17 150 (115 ) Income before taxes 15,752 19,064 31,561 37,954 Income taxes 22,894 7,151 29,311 14,077 Net income from discontinued operations $ (7,142 ) $ 11,913 $ 2,250 $ 23,877 (a) Includes activity up until the sale date of August 28, 2015.

Goodwill and Other Intangible22

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Oct. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill Balances and Related Activity by Business Segment	Goodwill balances and related activity by business segment are as follows: Balance at Acquisition Other Activity Balance at Corporate $ — $ — $ — $ — Dental 139,449 — (738 ) 138,711 Animal Health 160,475 518,370 39 678,884 Total $ 299,924 $ 518,370 $ (699 ) $ 817,595
Balances of Other Intangible Assets Excluding Goodwill	Balances of other intangible assets, excluding goodwill, are as follows: October 31, April 25, 2015 2015 Unamortized – indefinite lived: Copyrights, trade names and trademarks $ 29,900 $ 17,600 Amortized: Distribution agreement, customer lists and other 642,614 221,359 Less: Accumulated amortization (135,435 ) (113,934 ) Net amortized intangible assets 507,179 107,425 Total identifiable intangible assets, net $ 537,079 $ 125,025

Derivative Financial Instrume23

Derivative Financial Instruments (Tables)	6 Months Ended
	Oct. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Interest Rate Contracts Included in Condensed Consolidated Balance Sheets	The following presents the fair value of interest rate contracts included in the condensed consolidated balance sheets: October 31, April 25, Derivative type Classification 2015 2015 Interest rate contracts Other noncurrent assets $ 835 $ 1,255 Interest rate contracts Other noncurrent liabilities 835 1,255
Effect of Interest Rate Contracts on Condensed Consolidated Statements of Income and Other Comprehensive Income (OCI)	The following table presents the effect of interest rate contracts on the condensed consolidated statements of income and other comprehensive income (OCI): Three Months Ended Six Months Ended Derivative type Location of gain/(loss) recognized on derivative October 31, October 25, October 31, October 25, Interest rate swap OCI $ 437 $ (3,867 ) $ 1,054 $ (6,176 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Oct. 31, 2015
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: October 31, 2015 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 4,949 $ 4,949 $ — $ — Derivative instruments 835 — 835 — Total assets $ 5,784 $ 4,949 $ 835 $ — Liabilities: Derivative instruments $ 835 $ — $ 835 $ — April 25, 2015 Total Level 1 Level 2 Level 3 Assets: Cash equivalents $ 90,569 $ 90,569 $ — $ — Derivative instruments 1,255 — 1,255 — Total assets $ 91,824 $ 90,569 $ 1,255 $ — Liabilities: Derivative instruments $ 1,255 $ — $ 1,255 $ —

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Oct. 31, 2015
Segment Reporting [Abstract]
Information about Reportable Segments	The following table presents information about Patterson’s reportable segments: Three Months Ended Six Months Ended October 31, October 25, October 31, October 25, 2015 2014 2015 2014 Net sales Corporate $ 13,435 $ 9,110 $ 23,891 $ 18,892 Dental 601,322 592,636 1,176,439 1,135,510 Animal Health 774,453 376,474 1,331,750 762,774 Consolidated net sales $ 1,389,210 $ 978,220 $ 2,532,080 $ 1,917,176 Operating income (loss) from continuing operations Corporate $ (15,808 ) $ (15,623 ) $ (33,855 ) $ (26,163 ) Dental 74,094 73,427 141,346 135,976 Animal Health 25,177 14,336 38,149 28,323 Consolidated operating income from continuing operations $ 83,463 $ 72,140 $ 145,640 $ 138,136 October 31, 2015 April 25, 2015 Total assets Corporate $ 469,101 $ 539,863 Dental 900,668 1,022,257 Animal Health 2,082,069 631,445 Total assets, excluding assets held for sale 3,451,838 2,193,565 Assets held for sale — 754,141 Total assets $ 3,451,838 $ 2,947,706
Sales Information by Product	The following table presents sales information by product for all of Patterson’s reportable segments: Three Months Ended Six Months Ended October 31, October 25, October 31, October 25, 2015 2014 2015 2014 Net sales Consumables $ 1,087,489 $ 686,165 $ 1,982,796 $ 1,381,804 Equipment and software 207,809 204,409 361,292 360,803 Other 93,912 87,646 187,992 174,569 Consolidated net sales $ 1,389,210 $ 978,220 $ 2,532,080 $ 1,917,176

Accumulated Other Comprehensi26

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Oct. 31, 2015
Equity [Abstract]
Summary of Accumulated Other Comprehensive Loss	The following table summarizes accumulated other comprehensive loss (AOCL) at October 31, 2015 and April 25, 2015 and the activity for fiscal 2016: Cash Flow Hedges Currency Translation Adjustment Total AOCL at April 25, 2015 $ (18,668 ) $ (41,678 ) $ (60,346 ) Other comprehensive loss before reclassifications — (15,417 ) (15,417 ) Amounts reclassified from AOCL 1,054 11,083 12,137 AOCL at October 31, 2015 $ (17,614 ) $ (46,012 ) $ (63,626 )

General - Additional Informatio

General - Additional Information (Detail) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Oct. 31, 2015USD ($)shares	Oct. 25, 2014USD ($)shares	Oct. 31, 2015USD ($)Segmentshares	Oct. 25, 2014USD ($)shares	Apr. 25, 2015Segment
Accounting Policies [Abstract]
Number of reportable segments | Segment			3		3
Income tax benefit/(loss) related to cash flow hedges | $	$ (265)	$ 2,321	$ (350)	$ 7,134
Securities excluded from calculation of diluted earnings per share | shares	899	124	899	124

General - Computation of Basic

General - Computation of Basic and Diluted Earnings Per Share (EPS) (Detail) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2015	Oct. 25, 2014	Oct. 31, 2015	Oct. 25, 2014
Earnings Per Share [Abstract]
Denominator for basic EPS - weighted average shares	98,525	98,802	98,981	99,066
Effect of dilutive securities	660	574	693	713
Denominator for diluted EPS - weighted average shares	99,185	99,376	99,674	99,779

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($)	3 Months Ended			6 Months Ended
	Oct. 31, 2015	Aug. 01, 2015	Oct. 25, 2014	Oct. 31, 2015	Oct. 25, 2014	Apr. 25, 2015
Business Acquisition [Line Items]
Goodwill	$ 817,595,000			$ 817,595,000		$ 299,924,000
Revenues	1,389,210,000		$ 978,220,000	2,532,080,000	$ 1,917,176,000
Operating income	$ 83,463,000		$ 72,140,000	145,640,000	$ 138,136,000
Tax impact of repatriation of foreign earnings				12,300,000
Animal Health International [Member]
Business Acquisition [Line Items]
Business acquisition cash paid		$ 1,100,000,000
Identifiable net assets acquired		$ 589,833,000
Revision period after valuation completion for provisional amounts		1 year
Deferred tax asset		$ 2,569,000
Deferred tax liability		177,789,000
Goodwill		518,370,000
Goodwill recognized, deductible for income tax purpose		0
Deferred taxes recorded related to goodwill		0
Increase in goodwill due to working capital adjustments		499,000
Revenues				585,950,000
Operating income				12,369,000
Amortization expense related to identifiable intangible assets				$ 12,048,000
Animal Health International [Member] | Term Loan [Member]
Business Acquisition [Line Items]
Unsecured term loan		1,000,000,000
Animal Health International [Member] | Unsecured Revolving Line of Credit [Member]
Business Acquisition [Line Items]
Credit facility, maximum borrowing capacity		$ 500,000,000

Acquisitions - Summary of Total

Acquisitions - Summary of Total Purchase Price Consideration and Preliminary Fair Value of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	3 Months Ended
	Aug. 01, 2015	Oct. 31, 2015	Jun. 16, 2015	Apr. 25, 2015
Business Acquisition [Line Items]
Goodwill		$ 817,595		$ 299,924
Animal Health International [Member]
Business Acquisition [Line Items]
Total purchase price consideration	$ 1,108,203
Receivables	161,427
Inventory	195,367
Prepaid expenses and other current assets	33,005
Property and equipment	44,178
Identifiable intangibles	434,300		$ 434,300
Other long-term assets	40,869
Total assets acquired	909,146
Accounts payable	122,129
Accrued liabilities and other current liabilities	19,395
Deferred tax liability	177,789
Total liabilities assumed	319,313
Identifiable net assets acquired	589,833
Goodwill	518,370
Net assets acquired	$ 1,108,203

Acquisitions - Summary of Acqui

Acquisitions - Summary of Acquired Intangible Assets Excluding Goodwill (Detail) - Animal Health International [Member] - USD ($) $ in Thousands	Jun. 16, 2015	Aug. 01, 2015
Business Acquisition [Line Items]
Total amortized intangible assets	$ 422,000
Total identifiable intangible assets	$ 434,300	$ 434,300
Finite lived intangible assets, Weighted average life (years)	13 years 7 months 6 days
Unamortized Trade Names [Member]
Business Acquisition [Line Items]
Unamortized - indefinite lived	$ 12,300
Indefinite lived intangible assets, Weighted average life (years)	indefinite
Customer Relationships [Member]
Business Acquisition [Line Items]
Total amortized intangible assets	$ 291,900
Finite lived intangible assets, Weighted average life (years)	15 years
Amortized Trade Names [Member]
Business Acquisition [Line Items]
Total amortized intangible assets	$ 111,400
Finite lived intangible assets, Weighted average life (years)	10 years
Developed Technology and Other [Member]
Business Acquisition [Line Items]
Total amortized intangible assets	$ 18,700
Finite lived intangible assets, Weighted average life (years)	12 years 2 months 12 days

Acquisitions - Summary of Unaud

Acquisitions - Summary of Unaudited Pro Forma Financial Result (Detail) - USD ($) $ in Thousands	6 Months Ended
	Oct. 31, 2015	Oct. 25, 2014
Business Acquisition, Pro Forma Information [Abstract]
Pro forma net sales	$ 2,725,116	$ 2,650,613
Pro forma net income from continuing operations	$ 70,957	$ 74,754

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Detail) - USD ($) $ in Thousands	Aug. 28, 2015	Oct. 31, 2015	Oct. 31, 2015	Jul. 01, 2015
Discontinued Operations and Disposal Groups [Abstract]
Consideration receivable as per definitive agreement				$ 715,000
Proceeds from the sale including working capital adjustment	$ 718,078
Pre-tax gain on sale		$ 25,520	$ 25,520
Percentage of common units obtained		10.00%
Ratio of acquirer cash inflows to cash outflows at which common units obtained begin participating in distributions		2.5
Transition services agreement, period of involvement			24 months
Professional fees incurred with sale of Patterson Medical		$ 9,842	$ 13,692

Discontinued Operations - Summa

Discontinued Operations - Summary of Assets and Liabilities Held For Sale (Detail) $ in Thousands	Apr. 25, 2015USD ($)
Assets held for sale
Receivables, net of allowance for doubtful accounts	$ 57,876
Inventory	48,265
Prepaid expenses and other current assets	12,206
Property and equipment, net	22,672
Goodwill	537,175
Identifiable intangibles, net	74,804
Other long-term assets	1,143
Total assets held for sale	754,141
Liabilities held for sale
Accounts payable	26,341
Accrued liabilities and other current liabilities	12,975
Long-term liabilities	49,414
Total liabilities held for sale	$ 88,730

Discontinued Operations - Sum35

Discontinued Operations - Summary of Results of Operations Under Discontinued Operation Activities (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2015	Oct. 25, 2014	Oct. 31, 2015	Oct. 25, 2014
Discontinued Operations and Disposal Groups [Abstract]
Net sales	$ 37,693	$ 125,105	$ 168,504	$ 245,678
Cost of sales	24,486	78,570	107,359	153,535
Operating expenses	22,915	27,454	54,954	54,304
Gain on sale	(25,520)		(25,520)
Other expense (income)	60	17	150	(115)
Income before taxes	15,752	19,064	31,561	37,954
Income taxes	22,894	7,151	29,311	14,077
Net income from discontinued operations	$ (7,142)	$ 11,913	$ 2,250	$ 23,877

Goodwill and Other Intangible36

Goodwill and Other Intangible Assets - Goodwill Balances and Related Activity by Business Segment (Detail) $ in Thousands	6 Months Ended
	Oct. 31, 2015USD ($)
Goodwill [Line Items]
Beginning Balance	$ 299,924
Acquisition Activity and Divestitures	518,370
Other Activity	(699)
Ending Balance	817,595
Corporate [Member]
Goodwill [Line Items]
Beginning Balance	0
Acquisition Activity and Divestitures	0
Other Activity	0
Ending Balance	0
Dental [Member]
Goodwill [Line Items]
Beginning Balance	139,449
Other Activity	(738)
Ending Balance	138,711
Animal Health [Member]
Goodwill [Line Items]
Beginning Balance	160,475
Acquisition Activity and Divestitures	518,370
Other Activity	39
Ending Balance	$ 678,884

Goodwill and Other Intangible37

Goodwill and Other Intangible Assets - Balances of Other Intangible Assets Excluding Goodwill (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Apr. 25, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Copyrights, trade names and trademarks	$ 29,900	$ 17,600
Distribution agreement, customer lists and other	642,614	221,359
Less: Accumulated amortization	(135,435)	(113,934)
Net amortized intangible assets	507,179	107,425
Total identifiable intangible assets, net	$ 537,079	$ 125,025

Derivative Financial Instrume38

Derivative Financial Instruments - Additional Information (Detail)	1 Months Ended				3 Months Ended		6 Months Ended
	Aug. 31, 2015USD ($)	Mar. 31, 2015USD ($)	Jan. 31, 2014USD ($)	May. 31, 2012	Oct. 31, 2015USD ($)	Oct. 25, 2014USD ($)	Oct. 31, 2015USD ($)Derivative	Oct. 25, 2014USD ($)	Apr. 26, 2014USD ($)
Derivative [Line Items]
Interest expense					$ 17,154,000	$ 8,544,000	$ 29,297,000	$ 17,312,000
Long-term Debt [Member]
Derivative [Line Items]
Period of long-term loan							10 years
Long-term loan					250,000,000		$ 250,000,000
Interest Rate Cap [Member]
Derivative [Line Items]
Notional amount of derivatives					500,000,000		$ 500,000,000
Maturity date							2022-02
Number of interest rate caps purchased by PDC Funding | Derivative							1
Number of interest rate caps sold | Derivative							1
Replacement Interest Rate Cap Agreement [Member]
Derivative [Line Items]
Notional amount of derivatives	$ 100,000,000								$ 100,000,000
Maturity date	2023-07
Interest Rate Swap [Member]
Derivative [Line Items]
Interest expense					$ 703,000	$ 49,000	$ 1,405,000	$ 97,000
Interest Rate Swap Agreement with Bank [Member]
Derivative [Line Items]
Maturity date				2015-04
Interest Rate Swap Agreement [Member]
Derivative [Line Items]
Notional amount of derivatives			$ 250,000,000
Percentage of senior notes			5.17%
Senior notes amount due			$ 250,000,000
Settlement of swap		$ 29,003,000
Interest Rate Swap Agreement [Member] | Senior Notes 3.48% [Member]
Derivative [Line Items]
Percentage of senior notes					3.48%		3.48%
Period of long-term loan							10 years
Maturity date of long-term loan							Mar. 24, 2025
Aggregate principal amount					$ 250,000,000		$ 250,000,000
Interest Rate Swap Agreement [Member] | 5.17% Senior Notes [Member]
Derivative [Line Items]
Maturity date of long-term loan			Mar. 25, 2015

Derivative Financial Instrume39

Derivative Financial Instruments - Fair Value of Interest Rate Contracts Included in Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Apr. 25, 2015
Derivatives, Fair Value [Line Items]
Interest rate contracts, assets, fair value	$ 835	$ 1,255
Interest rate, liabilities, fair value	835	1,255
Other Noncurrent Assets [Member] | Interest Rate Contracts [Member]
Derivatives, Fair Value [Line Items]
Interest rate contracts, assets, fair value	835	1,255
Other Noncurrent Liabilities [Member] | Interest Rate Contracts [Member]
Derivatives, Fair Value [Line Items]
Interest rate, liabilities, fair value	$ 835	$ 1,255

Derivative Financial Instrume40

Derivative Financial Instruments - Effect of Interest Rate Contracts on Condensed Consolidated Statements of Income and Other Comprehensive Income (OCI) (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2015	Oct. 25, 2014	Oct. 31, 2015	Oct. 25, 2014
Interest Rate Swap [Member] | Other Comprehensive Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Effect of interest rate contracts	$ 437	$ (3,867)	$ 1,054	$ (6,176)

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Apr. 25, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	$ 4,949	$ 90,569
Derivative instruments, assets	835	1,255
Total assets	5,784	91,824
Derivative instruments, liabilities	835	1,255
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash equivalents	4,949	90,569
Total assets	4,949	90,569
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative instruments, assets	835	1,255
Total assets	835	1,255
Derivative instruments, liabilities	$ 835	$ 1,255

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Thousands	Oct. 31, 2015	Apr. 25, 2015
Fair Value Disclosures [Abstract]
Estimated fair value of debt	$ 1,058,425	$ 746,685

Securities - Additional Informa

Securities - Additional Information (Detail) CAD in Thousands	Oct. 25, 2013CADTime_Deposit	Oct. 31, 2015CAD	Oct. 24, 2014CAD
Investments, Debt and Equity Securities [Abstract]
Number of time deposits invested | Time_Deposit	3
Total principal amount	CAD 110,000	CAD 65,000	CAD 45,000
Maturity value of time deposits		CAD 67,031	CAD 45,436

Customer Financing - Additional

Customer Financing - Additional Information (Detail)	3 Months Ended		6 Months Ended
	Oct. 31, 2015USD ($)	Oct. 25, 2014USD ($)	Oct. 31, 2015USD ($)Customer	Oct. 25, 2014USD ($)	Apr. 25, 2015USD ($)	Apr. 26, 2014USD ($)
Customer Financing [Line Items]
Maximum credit financed for equipment purchases for any one customer	$ 500,000		$ 500,000
Number of customer financing contracts | Customer			2
Financing contracts sold under ASC 860	48,172,000	$ 47,059,000	$ 142,939,000	$ 132,148,000
Cash and cash equivalents	95,451,000	$ 284,872,000	95,451,000	$ 284,872,000	$ 347,260,000	$ 264,908,000
Current receivables of finance contracts not yet sold	105,852,000		105,852,000		88,470,000
Unearned income	6,781,000		6,781,000		4,197,000
Finance contracts receivable sold and outstanding	529,484,000		529,484,000
Deferred purchase price	67,550,000		$ 67,550,000		66,715,000
Bad debt write-offs, percentage, maximum			1.00%
Unsettled Financing Arrangements [Member]
Customer Financing [Line Items]
Cash and cash equivalents	24,793,000		$ 24,793,000		$ 29,863,000
The Bank of Tokyo-Mitsubishi UFJ, Ltd. [Member]
Customer Financing [Line Items]
Capacity under agreement	500,000,000		500,000,000
Fifth Third Bank [Member]
Customer Financing [Line Items]
Capacity under agreement	$ 100,000,000		$ 100,000,000
Minimum [Member] | The Bank of Tokyo-Mitsubishi UFJ, Ltd. [Member]
Customer Financing [Line Items]
Percentage of principal amount of financing contracts held as collateral			13.00%
Minimum [Member] | Fifth Third Bank [Member]
Customer Financing [Line Items]
Percentage of principal amount of financing contracts held as collateral			14.00%

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail) - Segment	6 Months Ended	12 Months Ended
	Oct. 31, 2015	Apr. 25, 2015
Segment Reporting [Abstract]
Number of reportable segments	3	3

Segment Reporting - Information

Segment Reporting - Information about Reportable Segments (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2015	Oct. 25, 2014	Oct. 31, 2015	Oct. 25, 2014	Apr. 25, 2015
Segment Reporting Information [Line Items]
Net sales	$ 1,389,210	$ 978,220	$ 2,532,080	$ 1,917,176
Operating income (loss) from continuing operations	83,463	72,140	145,640	138,136
Total assets, excluding assets held for sale	3,451,838		3,451,838		$ 2,193,565
Assets held for sale					754,141
Total assets	3,451,838		3,451,838		2,947,706
Corporate [Member]
Segment Reporting Information [Line Items]
Net sales	13,435	9,110	23,891	18,892
Operating income (loss) from continuing operations	(15,808)	(15,623)	(33,855)	(26,163)
Total assets, excluding assets held for sale	469,101		469,101		539,863
Dental [Member]
Segment Reporting Information [Line Items]
Net sales	601,322	592,636	1,176,439	1,135,510
Operating income (loss) from continuing operations	74,094	73,427	141,346	135,976
Total assets, excluding assets held for sale	900,668		900,668		1,022,257
Animal Health [Member]
Segment Reporting Information [Line Items]
Net sales	774,453	376,474	1,331,750	762,774
Operating income (loss) from continuing operations	25,177	$ 14,336	38,149	$ 28,323
Total assets, excluding assets held for sale	$ 2,082,069		$ 2,082,069		$ 631,445

Segment Reporting - Sales Infor

Segment Reporting - Sales Information by Product (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2015	Oct. 25, 2014	Oct. 31, 2015	Oct. 25, 2014
Segment Reporting Information [Line Items]
Net sales	$ 1,389,210	$ 978,220	$ 2,532,080	$ 1,917,176
Consumables [Member]
Segment Reporting Information [Line Items]
Net sales	1,087,489	686,165	1,982,796	1,381,804
Equipment and Software [Member]
Segment Reporting Information [Line Items]
Net sales	207,809	204,409	361,292	360,803
Other Products [Member]
Segment Reporting Information [Line Items]
Net sales	$ 93,912	$ 87,646	$ 187,992	$ 174,569

Accumulated Other Comprehensi48

Accumulated Other Comprehensive Loss - Summary of Accumulated Other Comprehensive Loss (Detail) $ in Thousands	6 Months Ended
	Oct. 31, 2015USD ($)
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCL at April 25, 2015	$ (60,346)
Other comprehensive loss before reclassifications	(15,417)
Amounts reclassified from AOCL	12,137
AOCL at October 31, 2015	(63,626)
Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCL at April 25, 2015	(18,668)
Amounts reclassified from AOCL	1,054
AOCL at October 31, 2015	(17,614)
Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
AOCL at April 25, 2015	(41,678)
Other comprehensive loss before reclassifications	(15,417)
Amounts reclassified from AOCL	11,083
AOCL at October 31, 2015	$ (46,012)

Accumulated Other Comprehensi49

Accumulated Other Comprehensive Loss - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Oct. 31, 2015	Oct. 25, 2014	Oct. 31, 2015	Oct. 25, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Gains and losses on cash flow hedges, tax	$ 265	$ (2,321)	$ 350	$ (7,134)
Amounts reclassified from AOCL			12,137
Increase in interest expense			1,405
Currency Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from AOCL			$ 11,083

Debt Issuance - Additional Info

Debt Issuance - Additional Information (Detail) - USD ($)	Aug. 28, 2015	Oct. 31, 2015	Aug. 01, 2015	Jun. 16, 2015	Apr. 25, 2015
Line of Credit Facility [Line Items]
Credit facility, borrowed amount		$ 0			$ 0
Borrowings on revolving credit		80,000,000
Credit Agreement [Member]
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity			$ 1,500,000,000
Credit facility, expiration date			Jun. 16, 2020
LIBOR [Member] | Credit Agreement [Member]
Line of Credit Facility [Line Items]
Credit facility, basis spread rate			2.00%
LIBOR [Member] | Minimum [Member] | Credit Agreement [Member]
Line of Credit Facility [Line Items]
Credit facility, basis spread rate			1.125%
LIBOR [Member] | Maximum [Member] | Credit Agreement [Member]
Line of Credit Facility [Line Items]
Credit facility, basis spread rate			2.00%
Unsecured Term Loan [Member] | Credit Agreement [Member]
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity		325,875,000	$ 1,000,000,000
Credit facility, borrowed amount			1,000,000,000
Credit facility, amount repaid	$ 670,000,000
Debt issuance cost amortization	$ 5,153,000
Principal payment		$ 4,125,000
Unsecured Revolving Line of Credit [Member] | Credit Agreement [Member]
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity			500,000,000
Credit facility, borrowed amount			$ 200,000,000
Credit Facility Expiring on December 2016 [Member]
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity				$ 300,000,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended			6 Months Ended
	Oct. 31, 2015	Aug. 01, 2015	Oct. 25, 2014	Oct. 31, 2015	Oct. 25, 2014
Income Tax Disclosure [Abstract]
Effective income tax rate	36.70%		35.00%	46.70%	34.80%
Repatriation of foreign earnings		$ 200,000
Tax impact of repatriation of foreign earnings				$ 12,300