continued from previous page breakage as revenue proportionately as redemption occurs. Below is a summary of the changes to the company's gift card liability during fiscal 2019 (in thousands): Gift card liabilities balance as of April 28, 2018 Adoption of Topic 606 Revenue Recognition.. Gift card breakage.... Gift card redemptions... Gift card issuances.. Gift card liabilities balance as of April 27, 2019 $323,465 (90,147) (42,282) (247,231) 271,654 $215,459