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Debt | 6 Months Ended
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Oct. 31, 2020
Debt Disclosure [Abstract] |
Debt | Note 7.Debt A summary of debt is shown below:
(Dollars in Millions) |  | October 31, 2020 |  |  | May 2, 2020 |
Revolving Credit Facility |  | $ | 110.0 |  |  | $ | 108.5 |
Term Loan |  |  | 225.0 |  |  |  | 231.2 |
Other Debt |  |  | 14.5 |  |  |  | 14.6 |
Unamortized Debt Issuance Costs |  |  | (1.9 | ) |  |  | (2.2 | )
Total Debt |  |  | 347.6 |  |  |  | 352.1 |
Less: Current Maturities |  |  | (15.3 | ) |  |  | (15.3 | )
Total Long-term Debt |  | $ | 332.3 |  |  | $ | 336.8 |
Revolving Credit Facility/Term Loan The Company is a party to an Amended and Restated Credit Agreement (“Credit Agreement”) with Bank of America, N.A., as Administrative Agent, and Wells Fargo Bank, N.A. The Credit Agreement terminates in September 2023 and consists of a senior unsecured revolving credit facility (“Revolving Credit Facility”) of $200.0 million and a senior unsecured term loan (“Term Loan”) of $250.0 million. In addition, the Company has an option to increase the size of the Revolving Credit Facility and Term Loan by up to an additional $200.0 million, subject to customary conditions and approval of the lenders providing new commitments. The Credit Agreement is guaranteed by the Company’s wholly-owned U.S. subsidiaries. For the Term Loan, the Company is required to make quarterly principal payments of 1.25% of the original Term Loan ($3.1 million) through maturity, with the remaining balance due on September 12, 2023. Subsequent to October 31, 2020, the Company repaid $50.0 million of the outstanding balance under the Revolving Credit Facility. Outstanding borrowings under the Credit Agreement bear interest at variable rates based on the type of borrowing and the Company’s debt to EBITDA financial ratio, as defined in the Credit Agreement. The weighted-average interest rate on outstanding borrowings under the Credit Agreement was 1.65% at October 31, 2020. The Credit Agreement contains customary representations and warranties, financial covenants, restrictive covenants and events of default. As of October 31, 2020, the Company was in compliance with all the covenants in the Credit Agreement. Other Debt One of the Company’s European subsidiaries has debt that consists of 14 notes with maturities ranging from 2021 to 2031. The weighted-average interest rate on this debt was approximately 1.47% at October 31, 2020 and $2.8 million of the debt was classified as short-term.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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