XML 14 R2.htm IDEA: XBRL DOCUMENT v3.5.0.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Apr. 30, 2016
May 02, 2015
CURRENT ASSETS    
Cash and cash equivalents $ 227.8 $ 168.1
Accounts receivable, less allowance (2016 and 2015 —$0.5) 175.5 170.4
Inventories:    
Finished products 11.9 16.0
Work in process 9.6 12.2
Materials 44.7 42.7
Inventories 66.2 70.9
Deferred income taxes 11.8 15.0
Prepaid and refundable income taxes 1.3 1.8
Prepaid expenses and other current assets 13.6 12.1
TOTAL CURRENT ASSETS 496.2 438.3
PROPERTY, PLANT AND EQUIPMENT    
Land 0.6 0.8
Buildings and building improvements 46.9 44.4
Machinery and equipment 278.4 264.0
PROPERTY, PLANT AND EQUIPMENT - Gross 325.9 309.2
Less allowances for depreciation 232.9 215.9
PROPERTY, PLANT AND EQUIPMENT - Net 93.0 93.3
OTHER ASSETS    
Goodwill 1.7 1.7
Other intangibles, less accumulated amortization 8.9 11.3
Cash surrender value of life insurance 7.4 7.0
Deferred income taxes 27.7 32.1
Pre-production costs 9.5 10.5
Other 11.5 11.6
Total other assets 66.7 74.2
TOTAL ASSETS 655.9 605.8
CURRENT LIABILITIES    
Accounts payable 68.2 70.1
Salaries, wages and payroll taxes 17.3 30.6
Other accrued expenses 17.3 17.2
Deferred income taxes 2.1 1.7
Income tax payable 13.0 11.0
TOTAL CURRENT LIABILITIES 117.9 130.6
LONG-TERM DEBT 57.0 5.0
OTHER LIABILITIES 2.9 4.0
DEFERRED COMPENSATION 8.0 7.2
SHAREHOLDERS’ EQUITY    
Common stock, $0.50 par value, 100,000,000 shares authorized, 38,181,985 and 39,702,036 shares issued as of April 30, 2016 and May 2, 2015, respectively 19.1 19.9
Additional paid-in capital 112.3 102.2
Accumulated other comprehensive loss (8.4) (8.3)
Treasury stock, 1,346,624 as of April 30, 2016 and May 2, 2015 (11.5) (11.5)
Retained earnings 358.6 356.5
TOTAL METHODE ELECTRONICS, INC. SHAREHOLDERS’ EQUITY 470.1 458.8
Noncontrolling interest 0.0 0.2
TOTAL EQUITY 470.1 459.0
TOTAL LIABILITIES AND EQUITY $ 655.9 $ 605.8