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100290 - Disclosure - Significant Accounting Policies (Tables)
(http://www.smith-wesson.com/20160430/taxonomy/role/DisclosureSignificantAccountingPoliciesTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001092796 (http://www.sec.gov/CIK)
Accounting Policies [Abstract]Period [Axis]
2015-05-01 - 2016-04-30
Accounting Policies [Abstract]
 
Summary of Estimated Useful Lives

A summary of the estimated useful lives is as follows:

 

Description

 

Useful Life

 

Building and improvements

 

 

10 to 40 years

 

Software and hardware

 

 

3 to 7 years

 

Machinery and equipment

 

 

2 to 10 years

 

 

  
Reconciliation of Net Income (Loss) Amounts and Weighted Average Number of Common and Common Equivalent Shares Used to Determine Basic and Diluted Earnings (Loss) per Common Share

The following table provides a reconciliation of the net income/(loss) amounts and weighted average number of common and common equivalent shares used to determine basic and diluted earnings/(loss) per common share (in thousands, except per share data):

 

 

 

For the Year Ended April 30,

 

 

 

2016

 

 

2015

 

 

2014

 

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

93,958

 

 

$

49,827

 

 

 

$

88,627

 

(Loss)/income from discontinued operations

 

 

—

 

 

 

(214

)

 

 

 

678

 

Net income

 

$

93,958

 

 

$

49,613

 

 

 

$

89,305

 

Weighted average shares outstanding — Basic

 

 

54,765

 

 

 

53,988

 

 

 

 

58,668

 

Dilutive effect of stock option and award plans

 

 

1,200

 

 

 

1,240

 

 

 

 

1,446

 

Diluted shares outstanding

 

 

55,965

 

 

 

55,228

 

 

 

 

60,114

 

Earnings per share — Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

1.72

 

 

$

0.92

 

 

 

$

1.51

 

Income from discontinued operations

 

$

—

 

 

$

—

 

 

 

$

0.01

 

Net income

 

$

1.72

 

 

$

0.92

 

 

 

$

1.52

 

Earnings per share — Diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$

1.68

 

 

$

0.90

 

 

 

$

1.47

 

Income from discontinued operations

 

$

—

 

 

$

—

 

 

 

$

0.01

 

Net income

 

$

1.68

 

 

$

0.90

 

 

 

$

1.49

 

 

  
Change in Accrued Warranties Recorded as Non-Current Liability

The following table sets forth the change in accrued warranties, a portion of which is recorded as a non-current liability, in the fiscal years ended April 30, 2016, 2015, and 2014 (in thousands):

 

 

April 30, 2016

 

 

April 30, 2015

 

 

April 30, 2014

 

Beginning Balance

$

 

8,653

 

 

$

 

7,565

 

 

$

 

8,423

 

 

Warranties issued and adjustments to provisions

 

 

2,546

 

 

 

 

4,292

 

 

 

 

3,620

 

 

Warranty claims

 

 

(2,796

)

 

 

 

(3,204

)

 

 

 

(4,478

)

Ending Balance

$

 

8,403

 

 

$

 

8,653

 

 

$

 

7,565