ACQUISITIONS (Tables)

9 Months Ended

Jan. 27, 2018

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	$	23.7	11.5 years
Customer Relationships and Agreements - Commercial	10.1		14.0 years
Trade Names	6.4		7.5 years
Technology Licenses	1.6		6.0 years
Total	$	41.8

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 Assets Acquired and Liabilities Assumed



(Dollars in Millions)
Cash	$	4.9
Accounts Receivable	18.3
Inventory	12.7
Prepaid Expenses and Other Current Assets	0.3
Income Taxes Receivable	1.2
Intangible Assets	41.8
Goodwill	48.5
Pre-production Costs	0.8
Property, Plant and Equipment	13.8
Accounts Payable	(7.9		)
Salaries, Wages and Payroll Taxes	(0.8		)
Other Accrued Expenses	(3.9		)
Short-term Debt	(0.8		)
Long-term Debt	(3.4		)
Deferred Income Tax Liability	(12.9		)
Total Purchase Price	$	112.6

The revised preliminary 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	10.8
Inventory	3.5
Intangible Assets	19.2
Goodwill	8.1
Other Assets	0.1
Property, Plant and Equipment	23.8
Accounts Payable	(4.9		)
Salaries, Wages and Payroll Taxes	(0.8		)
Other Accrued Expenses	(4.7		)
Income Taxes Payable	(0.6		)
Short-term Debt	(1.7		)
Other Liabilities	(5.6		)
Long-term Debt	(17.1		)
Deferred Income Tax Liability	(7.9		)
Total Purchase Price	$	23.5

Unaudited Pro Forma Results

The following table presents the unaudited pro forma results for the three and nine months ended January 27, 2018 and January 28, 2017. The unaudited pro forma financial information combines the results of operations of Methode and Pacific Insight as though the companies had been combined as of the beginning of fiscal 2017, and the pro forma information is presented for information purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place at such time. 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.



	(Unaudited)
	Three Months Ended					Nine Months Ended
(Dollars in Millions)	January 27, 2018			January 28, 2017		January 27, 2018		January 28, 2017
Revenues	$	227.8		$	217.8	$	698.3	$	666.0
Net Income (Loss)	$	(24.4	)	$	24.9	$	25.3	$	72.6