Goodwill and Other Intangible Assets (Tables)

12 Months Ended

May 02, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

A summary of the changes in goodwill by reportable segment is as follows:

(Dollars in Millions)	Automotive			Industrial			Total
Balance as of April 29, 2017	$	—		$	1.6		$	1.6
Acquisitions		57.2			—			57.2
Foreign Currency Translation		0.3			0.1			0.4
Balance as of April 28, 2018		57.5			1.7			59.2
Acquisitions		49.4			125.9			175.3
Foreign Currency Translation		(0.6	)		(0.6	)		(1.2	)
Balance as of April 27, 2019		106.3			127.0			233.3
Acquisitions		—			(0.2	)		(0.2	)
Foreign Currency Translation		(0.1	)		(1.4	)		(1.5	)
Balance as of May 2, 2020	$	106.2		$	125.4		$	231.6

Summary of Goodwill by Reporting Unit

A summary of goodwill by reporting unit is as follows:

(Dollars in Millions)	May 2, 2020		April 27, 2019
Grakon Industrial	$	123.8	$	125.4
North American Automotive		99.8		99.8
European Automotive		6.4		6.5
Other		1.6		1.6
Total	$	231.6	$	233.3

Schedule of Other Intangible Assets, Net

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

	As of May 2, 2020
(Dollars in Millions)	Gross		Accumulated Amortization			Net		Wtd. Avg. Remaining Amortization Periods (Years)
Definite-lived Intangible Assets:
Customer Relationships and Agreements	$	243.5	$	(40.8	)	$	202.7		16.5
Trade Names, Patents and Technology Licenses		75.3		(35.0	)		40.3		7.8
Total Definite-lived Intangible Assets		318.8		(75.8	)		243.0
Indefinite-lived Intangible Assets:
Trade Names, Patents and Technology Licenses		1.8		—			1.8
Total Indefinite-lived Intangible Assets		1.8		—			1.8
Total Other Intangible Assets	$	320.6	$	(75.8	)	$	244.8

	As of 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 Other 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:
2021	$	18.9
2022		18.9
2023		18.9
2024		18.5
2025		17.9
Thereafter		149.9
Total	$	243.0