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Segment Information (Tables) | 9 Months Ended
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Jan. 27, 2024
Segment Reporting [Abstract] |
Schedule of Reportable Segments | The tables below present information about the Company’s reportable segments:
|  | Three Months Ended January 27, 2024 |
(in millions) |  | Automotive |  |  | Industrial |  |  | Interface |  |  | Medical |  |  | Eliminations/ Corporate |  |  | Consolidated |
Net sales |  | $ | 142.4 |  |  | $ | 117.1 |  |  | $ | 12.7 |  |  | $ | — |  |  | $ | (12.7 | ) |  | $ | 259.5 |
Transfers between segments |  |  | (2.7 | ) |  |  | (10.0 | ) |  |  | — |  |  |  | — |  |  |  | 12.7 |  |  |  | — |
Net sales to unaffiliated customers |  | $ | 139.7 |  |  | $ | 107.1 |  |  | $ | 12.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 259.5 |
Income (loss) from operations |  | $ | (11.0 | ) |  | $ | 18.9 |  |  | $ | 1.5 |  |  | $ | (0.1 | ) |  | $ | (12.3 | ) |  | $ | (3.0 | )
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 5.0 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2.5 |
Pre-tax loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (10.5 | )
|  | Three Months Ended January 28, 2023 |
(in millions) |  | Automotive |  |  | Industrial |  |  | Interface |  |  | Medical |  |  | Eliminations /Corporate |  |  | Consolidated |
Net sales |  | $ | 178.6 |  |  | $ | 100.8 |  |  | $ | 12.1 |  |  | $ | 0.6 |  |  | $ | (12.0 | ) |  | $ | 280.1 |
Transfers between segments |  |  | (2.1 | ) |  |  | (9.8 | ) |  |  | (0.1 | ) |  |  | — |  |  |  | 12.0 |  |  |  | — |
Net sales to unaffiliated customers |  | $ | 176.5 |  |  | $ | 91.0 |  |  | $ | 12.0 |  |  | $ | 0.6 |  |  | $ | — |  |  | $ | 280.1 |
Income (loss) from operations |  | $ | 18.7 |  |  | $ | 22.3 |  |  | $ | 1.0 |  |  | $ | (1.8 | ) |  | $ | (12.9 | ) |  | $ | 27.3 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.8 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 3.5 |
Pre-tax income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 23.0 |
|  | Nine Months Ended January 27, 2024 |
(in millions) |  | Automotive |  |  | Industrial |  |  | Interface |  |  | Medical |  |  | Eliminations/ Corporate |  |  | Consolidated |
Net sales |  | $ | 461.5 |  |  | $ | 367.7 |  |  | $ | 39.7 |  |  | $ | 2.4 |  |  | $ | (34.1 | ) |  | $ | 837.2 |
Transfers between segments |  |  | (9.2 | ) |  |  | (24.8 | ) |  |  | (0.1 | ) |  |  | — |  |  |  | 34.1 |  |  |  | — |
Net sales to unaffiliated customers |  | $ | 452.3 |  |  | $ | 342.9 |  |  | $ | 39.6 |  |  | $ | 2.4 |  |  | $ | — |  |  | $ | 837.2 |
Income (loss) from operations |  | $ | (75.3 | ) |  | $ | 68.8 |  |  | $ | 5.4 |  |  | $ | (3.0 | ) |  | $ | (46.4 | ) |  | $ | (50.5 | )
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 12.2 |
Other expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2.3 |
Pre-tax loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | (65.0 | )
Goodwill impairment |  | $ | 56.5 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 56.5 |
|  | Nine Months Ended January 28, 2023 |
(in millions) |  | Automotive |  |  | Industrial |  |  | Interface |  |  | Medical |  |  | Eliminations /Corporate |  |  | Consolidated |
Net sales |  | $ | 554.2 |  |  | $ | 302.3 |  |  | $ | 39.2 |  |  | $ | 2.4 |  |  | $ | (19.7 | ) |  | $ | 878.4 |
Transfers between segments |  |  | (4.2 | ) |  |  | (15.4 | ) |  |  | (0.1 | ) |  |  | — |  |  |  | 19.7 |  |  |  | — |
Net sales to unaffiliated customers |  | $ | 550.0 |  |  | $ | 286.9 |  |  | $ | 39.1 |  |  | $ | 2.4 |  |  | $ | — |  |  | $ | 878.4 |
Income (loss) from operations |  | $ | 56.8 |  |  | $ | 69.7 |  |  | $ | 4.2 |  |  | $ | (4.7 | ) |  | $ | (44.1 | ) |  | $ | 81.9 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 1.3 |
Other income, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1.7 | )
Pre-tax income |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 82.3 |
(in millions) |  | January 27, 2024 |  |  | April 29, 2023 |
Identifiable assets: |  |  |  |  |  |
Automotive |  | $ | 648.7 |  |  | $ | 700.2 |
Industrial |  |  | 632.6 |  |  |  | 672.3 |
Interface |  |  | 105.1 |  |  |  | 127.2 |
Medical |  |  | 0.2 |  |  |  | 6.2 |
Eliminations/Corporate |  |  | 104.9 |  |  |  | 73.2 |
Total identifiable assets |  | $ | 1,491.5 |  |  | $ | 1,579.1 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-25 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30 + Details
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