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Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Jan. 29, 2022

Text Block [Abstract]

Schedule of Fair Value of Derivative Instruments Classified as Level 2 Within Fair Value Recorded in the Balance Sheet

The fair value of derivative instruments are classified as Level 2 within the fair value hierarchy and are recorded in the balance sheets as follows:

		Asset/(Liability)
(in millions)	Financial Statement Caption	January 29, 2022				May 1, 2021
Derivatives designated as hedging instruments:
Net investment hedges	Other long-term liabilities	$	(1.6	)		$	(6.8	)
Interest rate swaps	Other long-term liabilities	$	—			$	(0.2	)
Interest rate swaps	Other long-term assets	$	1.1			$	—
Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Prepaid expenses and other current assets	$	0.3			$	—
Foreign currency forward contracts	Other accrued liabilities	$	(0.2	)		$	—

Schedule of Derivative Instruments Effect on Other Comprehensive Income (Loss)

Gross amounts recorded in other comprehensive income (loss) were as follows:

		Three Months Ended								Nine Months Ended
(in millions)		January 29, 2022				January 30, 2021				January 29, 2022				January 30, 2021
Net investment hedges		$	2.4			$	(2.7	)		$	5.2			$	(6.3	)
Interest rate swaps			0.7				—				1.3				—
Total		$	3.1			$	(2.7	)		$	6.5			$	(6.3	)

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- Definition

Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624171-113959

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X

- Definition

Tabular disclosure of derivative instruments (including nonderivative instruments that are designated and qualify as hedging instruments) of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5618551-113959

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- References

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