XML 83 R27.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Shareholders' Equity (Tables) | 12 Months Ended
--- | ---
May 03, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Stock by Class | The number of shares of common stock, par value $0.50 per share, authorized, issued and outstanding and in treasury, was as follows:
| May 3, 2014 |  | April 27, 2013
Authorized | 100,000,000 |  |  | 100,000,000 |
Issued and outstanding | 39,262,168 |  |  | 38,455,853 |
In treasury | 1,342,188 |  |  | 1,342,188 |
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan | The table below summarizes the expense related to the equity awards for fiscal 2014, 2013 and 2012.
| Compensation Expense
| Fiscal 2014 |  | Fiscal 2013 |  | Fiscal 2012
2010 Stock Plan: |  |  |  |  |
RSAs | $ | 1.5 |  |  | $ | 1.5 |  |  | $ | 1.4 |
RSUs | 0.3 |  |  | 0.5 |  |  | 0.9 |
Stock options | 0.8 |  |  | 0.5 |  |  | 0.6 |
Total 2010 Stock Plan | $ | 2.6 |  |  | $ | 2.5 |  |  | $ | 2.9 |
2007 Stock Plan: |  |  |  |  |
RSAs | $ | 0.4 |  |  | $ | 0.2 |  |  | $ | 0.3 |
Stock options | 0.3 |  |  | 0.6 |  |  | 0.8 |
Total 2007 Stock Plan | $ | 0.7 |  |  | $ | 0.8 |  |  | $ | 1.1 |
Total Compensation Expense | $ | 3.3 |  |  | $ | 3.3 |  |  | $ | 4.0 |
2010 Stock Plan |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Share-based Compensation, Stock Options, Activity | The following tables summarize the stock option activity and related information for the stock options granted under the 2010 Stock Plan for fiscal 2014, 2013 and 2012:
|  | Summary of Option Activity
|  | Shares |  | Wtd. Avg. Exercise Price
Outstanding at April 30, 2011 |  | 128,000 |  |  | $ | 9.24 |
Awarded |  | 128,000 |  |  | 10.70 |
Exercised |  | — |  |  | — |
Cancelled |  | (16,000 | ) |  | 9.97 |
Outstanding at April 28, 2012 |  | 240,000 |  |  | 9.97 |
Awarded |  | 120,000 |  |  | 8.64 |
Exercised |  | — |  |  | — |
Cancelled |  | — |  |  | — |
Outstanding at April 27, 2013 |  | 360,000 |  |  | 9.53 |
Awarded |  | 120,000 |  |  | 17.27 |
Exercised |  | (59,999 | ) |  | 9.50 |
Cancelled |  | — |  |  | — |
Outstanding at May 3, 2014 |  | 420,001 |  |  | $ | 11.74 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range |
Options Outstanding at May 3, 2014
Shares |  | Exercise Price |  | Avg. Remaining Life (Years)
80,000 |  |  | $ | 9.24 |  |  | 6.5
106,667 |  |  | 10.70 |  |  | 7.3
113,334 |  |  | 8.64 |  |  | 8.3
120,000 |  |  | 17.27 |  |  | 9.3
420,001 |  |  | $ | 11.74 |  |  |
Options Exercisable at May 3, 2014
Shares |  | Exercise Price |  | Avg. Remaining Life (Years)
80,000 |  |  | $ | 9.24 |  |  | 6.5
66,667 |  |  | 10.70 |  |  | 7.3
33,334 |  |  | 8.64 |  |  | 8.3
180,001 |  |  | $ | 9.67 |  |  |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | We estimated the fair value of these stock options on the date of grant using the Black-Scholes option-pricing model with the following assumptions:
| 2010 Stock Plan
| Fiscal 2014 |  | Fiscal 2013 |  | Fiscal 2012
| Awards |  | Awards |  | Awards
Average expected volatility | 65.33 | % |  | 66.15 | % |  | 52.76 | %
Average risk-free interest rate | 0.65 | % |  | 0.39 | % |  | 0.63 | %
Dividend yield | 2.81 | % |  | 2.94 | % |  | 2.66 | %
Expected life of options (in years) | 7.61 |  |  | 7.18 |  |  | 7.03 |
Weighted-average grant-date fair value | $ | 8.39 |  |  | $ | 4.13 |  |  | $ | 4.27 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | The following table summarizes the RSA and RSU activity for fiscal 2014, 2013 and 2012 under the 2010 Stock Plan:
| RSA Shares |  | RSU Shares
Unvested and unissued at April 30, 2011 | 640,000 |  |  | 256,000 |
Awarded | 100,000 |  |  | — |
Vested | — |  |  | (60,000 | )
Forfeited and Cancelled | (40,000 | ) |  | (16,000 | )
Unvested and unissued at April 28, 2012 | 700,000 |  |  | 180,000 |
Awarded | — |  |  | — |
Vested | — |  |  | (60,000 | )
Forfeited and Cancelled | — |  |  | — |
Unvested and unissued at April 27, 2013 | 700,000 |  |  | 120,000 |
Awarded | — |  |  | — |
Vested | — |  |  | (60,000 | )
Forfeited and Cancelled | — |  |  | — |
Unvested and unissued at May 3, 2014 | 700,000 |  |  | 60,000 |
Schedule Of Share-based Compensation, Restricted Stock And Restricted Stock Units Details, By Grant Year And Vesting Period |
|  |  |  |  |  | Weighted Average Value |  | Probable Unearned Compensation Expense at May 3, 2014 |  | Target Unearned Compensation Expense at May 3, 2014
Grant Fiscal Year |  | Number of Shares Granted, less Forfeitures |  | Vesting Period |  |  |
2011 |  | 600,000 |  |  | 5-year RSA cliff, performance based |  | $ | 9.70 |  |  | $ | 1.3 |  |  | $ | 1.3 |
2011 |  | 300,000 |  |  | 5-year RSU, equal annual installments |  | 9.70 |  |  | 0.1 |  |  | N/A |
2012 |  | 100,000 |  |  | One-third per year, beginning in fiscal 2015, performance based |  | 8.10 |  |  | 0.3 |  |  | 0.3 |
2007 Stock Plan |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Share-based Compensation, Stock Options, Activity | The following tables summarize the stock option activity and related information for the stock options granted under the 2007 Stock Plan as of May 3, 2014:
| Summary of Option Activity
| Shares |  | Wtd. Avg. Exercise Price
Outstanding at April 30, 2011 | 720,500 |  |  | $ | 5.77 |
Awarded | 52,500 |  |  | 8.10 |
Exercised | (10,000 | ) |  | 6.46 |
Cancelled | (25,000 | ) |  | 9.73 |
Outstanding at April 28, 2012 | 738,000 |  |  | $ | 5.79 |
Awarded | 42,500 |  |  | 8.64 |
Exercised | (2,500 | ) |  | 8.10 |
Cancelled | — |  |  | — |
Outstanding at April 27, 2013 | 778,000 |  |  | $ | 5.94 |
Awarded | 42,500 |  |  | 17.27 |
Exercised | (648,141 | ) |  | 5.60 |
Cancelled | — |  |  | — |
Outstanding at May 3, 2014 | 172,359 |  |  | 10.02 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range | Options Outstanding at May 3, 2014
Shares |  | Exercise Price |  | Avg. Remaining Life (Years)
60,690 |  |  | $ | 6.46 |  |  | 5.3
10,000 |  |  | 10.55 |  |  | 6.3
29,168 |  |  | 8.10 |  |  | 7.5
30,001 |  |  | 8.64 |  |  | 8.3
42,500 |  |  | 17.27 |  |  | 9.3
172,359 |  |  | $ | 10.02 |  |  |
Options Exercisable at May 3, 2014
Shares |  | Exercise Price |  | Avg. Remaining Life (Years)
60,690 |  |  | $ | 6.46 |  |  | 5.3
10,000 |  |  | 10.55 |  |  | 6.3
11,668 |  |  | 8.10 |  |  | 7.5
1,668 |  |  | 8.64 |  |  | 8.3
84,026 |  |  | $ | 7.22 |  |  |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | We estimated the fair value of these stock options on the date of grant using the Black-Scholes option-pricing model with the following assumptions:
| Fiscal 2014 Awards |  | Fiscal 2013 Awards |  | Fiscal 2012 Awards
Average expected volatility | 65.33 | % |  | 66.15 | % |  | 52.76 | %
Average risk-free interest rate | 0.65 | % |  | 0.39 | % |  | 0.63 | %
Dividend yield | 2.81 | % |  | 2.94 | % |  | 2.66 | %
Expected life of options | 7.61 years |  |  | 7.18 years |  |  | 7.03 years |
Weighted-average grant-date fair value | $ | 8.39 |  |  | $ | 4.13 |  |  | $ | 4.27 |
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity | The following table summarizes the RSA activity under the 2007 Stock Plan:
| Fiscal 2014 |  | Fiscal 2013 |  | Fiscal 2012
Unvested at beginning of fiscal year | — |  |  | — |  |  | — |
Awarded | 27,000 |  |  | 27,000 |  |  | 28,860 |
Vested | (27,000 | ) |  | (27,000 | ) |  | (28,860 | )
Forfeited | — |  |  | — |  |  | — |
Unvested at end of period | — |  |  | — |  |  | — |
2000 and 2004 Stock Plans |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] |
Schedule of Share-based Compensation, Stock Options, Activity | The following tables summarize the stock option activity and related information for the stock options granted under the 2000 and 2004 Stock Plans for fiscal 2014, 2013 and 2012:
| Options Outstanding |  | Exercisable Options
| Shares |  | Wtd. Avg. Exercise Price |  | Shares |  | Wtd. Avg. Exercise Price
April 30, 2011 | 282,767 |  |  | $ | 10.82 |  |  | 282,767 |  |  | $ | 10.82 |
Granted | — |  |  | — |  |  |  |  |  |  |
Exercised | (21,975 | ) |  | 9.02 |  |  |  |  |  |  |
Cancelled | (9,427 | ) |  | 11.32 |  |  |  |  |  |  |
April 28, 2012 | 251,365 |  |  | 10.96 |  |  | 251,365 |  |  | 10.96 |
Granted | — |  |  | — |  |  |  |  |
Exercised | (50,675 | ) |  | 11.44 |  |  |  |  |
Cancelled | (128,105 | ) |  | 10.50 |  |  |  |  |
April 27, 2013 | 72,585 |  |  | $ | 11.44 |  |  | 72,585 |  |  | $ | 11.44 |
Granted | — |  |  | — |  |  |  |  |
Exercised | (71,175 | ) |  | 11.44 |  |  |  |  |
Cancelled | (1,410 | ) |  | 11.44 |  |  |  |  |
May 3, 2014 | — |  |  | — |  |  | — |  |  | — |

X
- Definition Schedule Of Share-based Compensation, Restricted Stock And Restricted Stock Units Details, By Grant Year And Vesting Period [Table Text Block] + References No definition available. + Details
Name: | mei_ScheduleOfShareBasedCompensationRestrictedStockAndRestrictedStockUnitsDetailsByGrantYearAndVestingPeriodTableTextBlock
Namespace Prefix: | mei_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of option exercise prices, by grouped ranges, including the upper and lower limits of the price range, the number of shares under option, weighted average exercise price and remaining contractual option terms. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationSharesAuthorizedUnderStockOptionPlansByExercisePriceRangeTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 480 -SubTopic 10 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=27011957&loc=d3e177068-122764 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21553-112644 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(d),(e)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.28,29) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 29 -Article 5 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 30 -Article 5 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6403732&loc=d3e21300-112643 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644 + Details
Name: | us-gaap_ScheduleOfStockByClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration