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Balance Sheet Components (Tables) | 6 Months Ended
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Oct. 30, 2021
Balance Sheet Components [Abstract] |
Summary of Inventories | Inventories are stated at the lower-of-cost or net realizable value. Cost is determined using the first-in, first-out method. Finished products and work-in-process inventories include direct material costs and direct and indirect manufacturing costs. The Company records reserves for inventory that may be obsolete or in excess of current and future market demand. A summary of inventories is shown below:
(in millions) |  | October 30, 2021 |  |  | May 1, 2021 |
Finished products |  | $ | 30.0 |  |  | $ | 24.8 |
Work in process |  |  | 14.5 |  |  |  | 14.0 |
Raw materials |  |  | 104.5 |  |  |  | 85.4 |
Total inventories |  | $ | 149.0 |  |  | $ | 124.2 |
Summary of Property, Plant and Equipment | A summary of property, plant and equipment is shown below:
(in millions) |  | October 30, 2021 |  |  | May 1, 2021 |
Land |  | $ | 3.3 |  |  | $ | 3.3 |
Buildings and building improvements |  |  | 87.9 |  |  |  | 88.9 |
Machinery and equipment |  |  | 417.9 |  |  |  | 408.0 |
Construction in progress |  |  | 24.2 |  |  |  | 24.8 |
Total property, plant and equipment, gross |  |  | 533.3 |  |  |  | 525.0 |
Less: accumulated depreciation |  |  | (326.7 | ) |  |  | (321.0 | )
Property, plant and equipment, net |  | $ | 206.6 |  |  | $ | 204.0 |

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(c)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(b)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6361739&loc=d3e7789-107766 + Details
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