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Consolidated Balance Sheets - USD ($)
$ in Millions
May. 02, 2015
May. 03, 2014
CURRENT ASSETS    
Cash and cash equivalents $ 168.1 $ 116.4
Accounts receivable, less allowance (2015 — $0.5; 2014 —$0.7) 170.4 173.0
Inventories:    
Finished products 16.0 14.2
Work in process 12.2 12.0
Materials 42.7 45.4
Inventories 70.9 71.6
Deferred income taxes 15.0 8.7
Prepaid and refundable income taxes 1.8 0.4
Prepaid expenses and other current assets 12.1 11.6
TOTAL CURRENT ASSETS 438.3 381.7
PROPERTY, PLANT AND EQUIPMENT    
Land 0.8 3.1
Buildings and building improvements 44.4 45.9
Machinery and equipment 264.0 274.6
PROPERTY, PLANT AND EQUIPMENT - Gross 309.2 323.6
Less allowances for depreciation 215.9 222.4
PROPERTY, PLANT AND EQUIPMENT - Net 93.3 101.2
OTHER ASSETS    
Goodwill 1.7 13.0
Other intangibles, less accumulated amortization 11.3 13.0
Cash surrender value of life insurance 7.0 8.2
Deferred income taxes 32.1 40.0
Pre-production costs 10.5 10.5
Other 11.6 7.9
Total other assets 74.2 92.6
TOTAL ASSETS 605.8 575.5
CURRENT LIABILITIES    
Accounts payable 70.1 82.0
Salaries, wages and payroll taxes 30.6 15.3
Other accrued expenses 17.2 15.9
Deferred income taxes 1.7 1.3
Income tax payable 11.0 4.6
TOTAL CURRENT LIABILITIES 130.6 119.1
LONG-TERM DEBT 5.0 48.0
OTHER LIABILITIES 4.0 3.4
DEFERRED COMPENSATION 7.2 12.8
SHAREHOLDERS’ EQUITY    
Common stock, $0.50 par value, 100,000,000 shares authorized, 39,702,036 and 39,262,168 shares issued as of May 2, 2015 and May 3, 2014, respectively 19.9 19.6
Additional paid-in capital 102.2 89.8
Accumulated other comprehensive income/(loss) (8.3) 24.7
Treasury stock, 1,346,624 and 1,342,188 shares as of May 2, 2015 and May 3, 2014, respectively (11.5) (11.4)
Retained earnings 356.5 269.2
TOTAL METHODE ELECTRONICS, INC. SHAREHOLDERS’ EQUITY 458.8 391.9
Noncontrolling interest 0.2 0.3
TOTAL EQUITY 459.0 392.2
TOTAL LIABILITIES AND EQUITY $ 605.8 $ 575.5