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Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
May 03, 2014
Apr. 27, 2013
CURRENT ASSETS    
Cash and cash equivalents $ 116.4 $ 65.8
Accounts receivable, less allowance (2014 — $0.7; 2013 —$1.0) 173.0 119.8
Inventories:    
Finished products 14.2 11.7
Work in process 12.0 10.2
Materials 45.4 38.0
Inventories 71.6 59.9
Deferred income taxes 8.7 3.3
Prepaid and refundable income taxes 0.4 0.3
Prepaid expenses and other current assets 11.6 9.5
TOTAL CURRENT ASSETS 381.7 258.6
PROPERTY, PLANT AND EQUIPMENT    
Land 3.1 3.1
Buildings and building improvements 45.9 43.2
Machinery and equipment 274.6 251.0
PROPERTY, PLANT AND EQUIPMENT - Gross 323.6 297.3
Less allowances for depreciation 222.4 198.9
PROPERTY, PLANT AND EQUIPMENT - Net 101.2 98.4
OTHER ASSETS    
Goodwill 13.0 12.9
Other intangibles, less accumulated amortization 13.0 16.5
Cash surrender value of life insurance 8.2 9.3
Deferred income taxes 40.0 14.8
Pre-production costs 10.5 11.5
Other 7.9 12.9
Total other assets 92.6 77.9
TOTAL ASSETS 575.5 434.9
CURRENT LIABILITIES    
Accounts payable 82.0 61.5
Salaries, wages and payroll taxes 15.3 9.7
Other accrued expenses 15.9 14.8
Deferred income taxes 1.3 0.6
Income taxes payable 4.6 3.8
TOTAL CURRENT LIABILITIES 119.1 90.4
LONG-TERM DEBT 48.0 43.5
OTHER LIABILITIES 3.4 3.3
DEFERRED COMPENSATION 12.8 8.1
SHAREHOLDERS’ EQUITY    
Common stock, $0.50 par value, 100,000,000 shares authorized, 39,262,168 and 38,455,853 shares issued as of May 3, 2014 and April 27, 2013, respectively 19.6 19.2
Additional paid-in capital 89.8 81.5
Accumulated other comprehensive income 24.7 15.7
Treasury stock, 1,342,188 shares as of May 3, 2014 and April 27, 2013 (11.4) (11.4)
Retained earnings 269.2 184.4
TOTAL METHODE ELECTRONICS, INC. SHAREHOLDERS’ EQUITY 391.9 289.4
Noncontrolling interest 0.3 0.2
TOTAL EQUITY 392.2 289.6
TOTAL LIABILITIES AND EQUITY $ 575.5 $ 434.9