XML 30 R26.htm IDEA: XBRL DOCUMENT v3.19.3

Goodwill and Intangible Assets (Tables)

6 Months Ended

Oct. 26, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

The following table shows goodwill by segment:

(Dollars in Millions)		October 26, 2019				April 27, 2019
Automotive		$	106.3			$	106.3
Industrial		127.3				127.0
Total		$	233.6			$	233.3

Schedule of Intangible Assets

The following tables present details of the Company's identifiable intangible assets:

	October 26, 2019
(Dollars in Millions)	Gross				Accumulated Amortization				Net				Wtd. Avg. Remaining Amortization Periods (Years)
Definite-lived Intangible Assets:
Customer Relationships and Agreements	$	244.8			$	34.3			$	210.5			17.0
Trade Names, Patents and Technology Licenses	75.6				32.1				43.5				7.9
Total Definite-lived Intangible Assets	320.4				66.4				254.0
Indefinite-lived Intangible Assets:
Trade Names, Patents and Technology Licenses	1.8				—				1.8
Total Indefinite-lived Intangible Assets	1.8				—				1.8
Total Intangible Assets	$	322.2			$	66.4			$	255.8

	April 27, 2019
(Dollars in Millions)	Gross				Accumulated Amortization				Net				Wtd. Avg. Remaining Amortization Periods (Years)
Definite-lived Intangible Assets:
Customer Relationships and Agreements	$	244.5			$	27.7			$	216.8			17.4
Trade Names, Patents and Technology Licenses	75.5				29.2				46.3				8.4
Total Definite-lived Intangible Assets	320.0				56.9				263.1
Indefinite-lived Intangible Assets:
Trade Names, Patents and Technology Licenses	1.8				—				1.8
Total Indefinite-lived Intangible Assets	1.8				—				1.8
Total Intangible Assets	$	321.8			$	56.9			$	264.9

Schedule of Intangible Assets

The following tables present details of the Company's identifiable intangible assets:

	October 26, 2019
(Dollars in Millions)	Gross				Accumulated Amortization				Net				Wtd. Avg. Remaining Amortization Periods (Years)
Definite-lived Intangible Assets:
Customer Relationships and Agreements	$	244.8			$	34.3			$	210.5			17.0
Trade Names, Patents and Technology Licenses	75.6				32.1				43.5				7.9
Total Definite-lived Intangible Assets	320.4				66.4				254.0
Indefinite-lived Intangible Assets:
Trade Names, Patents and Technology Licenses	1.8				—				1.8
Total Indefinite-lived Intangible Assets	1.8				—				1.8
Total Intangible Assets	$	322.2			$	66.4			$	255.8

	April 27, 2019
(Dollars in Millions)	Gross				Accumulated Amortization				Net				Wtd. Avg. Remaining Amortization Periods (Years)
Definite-lived Intangible Assets:
Customer Relationships and Agreements	$	244.5			$	27.7			$	216.8			17.4
Trade Names, Patents and Technology Licenses	75.5				29.2				46.3				8.4
Total Definite-lived Intangible Assets	320.0				56.9				263.1
Indefinite-lived Intangible Assets:
Trade Names, Patents and Technology Licenses	1.8				—				1.8
Total Indefinite-lived Intangible Assets	1.8				—				1.8
Total Intangible Assets	$	321.8			$	56.9			$	264.9

Schedule of Estimated Aggregate Amortization Expense of Intangible Assets

Based on the current amount of intangible assets subject to amortization, the estimated aggregate amortization expense for each of the five succeeding fiscal years and thereafter is as follows:

 

(Dollars in Millions)
Fiscal Year:
Remainder of 2020	$	9.6
2021	19.0
2022	19.0
2023	19.0
2024	18.6
Thereafter	168.8
Total	$	254.0

X

- References

No definition available.

+ Details

Name:	us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-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_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13854-109267

+ Details

Name:	us-gaap_ScheduleOfGoodwillTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance and exist in perpetuity, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 3
-Subparagraph (b),(d)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16373-109275

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

+ Details

Name:	us-gaap_ScheduleOfIndefiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

+ Details

Name:	us-gaap_ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration