XML 35 R24.htm IDEA: XBRL DOCUMENT
v3.10.0.1

ACQUISITIONS (Tables) | 3 Months Ended
--- | ---
Jul. 28, 2018
Business Acquisition [Line Items] |
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 Assets Acquired and Liabilities Assumed |
(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 |
(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 |
Unaudited Pro Forma Results | The following table presents the unaudited pro forma results for the three months ended July 29, 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. 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
(Dollars in Millions) |  | July 29, 2017
Revenues |  | $ | 224.7 |
Net Income |  | $ | 22.0 |

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_BusinessAcquisitionLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfAcquiredFiniteLivedIntangibleAssetsByMajorClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration