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Acquisitions (Tables) | 12 Months Ended
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Apr. 28, 2018
Business Combinations [Abstract] |
Business Acquisition, Pro Forma Information [Table Text Block] | The unaudited pro forma results presented below primarily include amortization charges for acquired intangible assets, depreciation adjustments for property, plant and equipment that has been revalued, adjustments for certain acquisition-related charges, and related tax effects.
|  | Year Ended
(Dollars in Millions) |  | April 28, 2018 |  | April 29, 2017
Revenues |  | $ | 947.3 |  |  | $ | 910.0 |
Net Income |  | $ | 62.2 |  |  | $ | 97.6 |
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block] | The following table presents details of the intangible assets acquired:
(Dollars in Millions) |  | Fair Value at Date of Acquisition |  | Amortization Period
Customer Relationships and Agreements - Automotive |  | $ | 22.6 |  |  | 11.0 years
Customer Relationships and Agreements - Commercial |  | 9.6 |  |  | 13.0 years
Trade Names |  | 6.2 |  |  | 7.5 years
Technology Licenses |  | 1.7 |  |  | 5.5 years
Total |  | $ | 40.1 |  |  |
The following table presents details of the intangible assets acquired:
(Dollars in Millions) |  | Fair Value at Date of Acquisition |  | Amortization Period
Customer Relationships and Agreements - Significant Customer |  | $ | 12.3 |  |  | 17.0 years
Customer Relationships and Agreements - All Other Customers |  | 2.8 |  |  | 11.5 years
Technology Licenses |  | 2.1 |  |  | 8.5 years
Trade Names |  | 2.0 |  |  | 8.5 years
Total |  | $ | 19.2 |  |  |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The final allocation of the purchase price to the fair values of the assets acquired and liabilities assumed were:
(Dollars in Millions) |  |
Cash |  | $ | 1.3 |
Accounts Receivable |  | 7.4 |
Inventory |  | 3.5 |
Intangible Assets |  | 19.2 |
Goodwill |  | 6.8 |
Pre-production Costs |  | 2.3 |
Property, Plant and Equipment |  | 23.8 |
Accounts Payable |  | (4.9 | )
Salaries, Wages and Payroll Taxes |  | (0.8 | )
Other Accrued Expenses |  | (0.7 | )
Income Taxes Payable |  | (0.6 | )
Short-term Debt |  | (3.2 | )
Other Liabilities |  | (2.1 | )
Long-term Debt |  | (20.6 | )
Deferred Income Tax Liability |  | (7.9 | )
Total Purchase Price |  | $ | 23.5 |
The final allocation of the purchase price to the fair values of the assets acquired and liabilities assumed were:
(Dollars in Millions) |  |
Cash |  | $ | 4.9 |
Accounts Receivable |  | 18.3 |
Inventory |  | 13.0 |
Prepaid Expenses and Other Current Assets |  | 0.3 |
Income Taxes Receivable |  | 1.2 |
Intangible Assets |  | 40.1 |
Goodwill |  | 50.4 |
Pre-production Costs |  | 0.8 |
Property, Plant and Equipment |  | 13.2 |
Accounts Payable |  | (7.9 | )
Salaries, Wages and Payroll Taxes |  | (0.8 | )
Other Accrued Expenses |  | (2.9 | )
Short-term Debt |  | (0.8 | )
Long-term Debt |  | (3.4 | )
Deferred Income Tax Liability |  | (12.8 | )
Total Purchase Price |  | $ | 113.6 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=79982066&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=84161108&loc=d3e4845-128472 + Details
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