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Leases (Tables)

6 Months Ended

Oct. 26, 2019

Leases [Abstract]

Lease Costs

The components of lease expense were as follows:

(Dollars in Millions)		Three Months Ended October 26, 2019				Six Months Ended October 26, 2019
Lease Cost:
Operating Lease Cost		$	2.3			$	4.8
Variable Lease Cost		0.2				0.4
Total Lease Cost		$	2.5			$	5.2

Supplemental Cash Flow

Supplemental cash flow and other information related to operating leases was as follows:

(Dollars in Millions)		Six Months Ended October 26, 2019
Operating Cash Flows:
Cash Paid Related to Operating Lease Obligations		$	4.3
Non-cash Activity:
Right-of-use Assets Obtained in Exchange for Lease Obligations		$	5.1
Weighted-average Remaining Lease Term		5.8 years
Weighted-average Discount Rate		4.67		%

Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities as of October 26, 2019, are shown below:

(Dollars in Millions)		Operating Leases
Fiscal Year:
Remainder of 2020		$	4.2
2021		6.4
2022		5.9
2023		5.2
2024		4.0
Thereafter		8.0
Total Lease Payments		33.7
Less: Imputed Interest		(4.4		)
Present Value of Lease Liabilities		$	29.3

Future Minimum Lease Payments

Future minimum lease payments for assets under operating leases as of April 27, 2019 were as follows:

(Dollars in Millions)		Operating Leases
Fiscal Years:
2020		$	7.8
2021		5.6
2022		4.9
2023		4.2
2024		3.3
Thereafter		8.4
Net Minimum Lease Payments		$	34.2

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- Definition

Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918686-209980

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- Definition

Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 842
-SubTopic 20
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=77888426&loc=SL77918701-209980

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Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 840
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=77902758&loc=d3e41502-112717

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