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Shareholders' Equity (Tables) | 9 Months Ended
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Jan. 27, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] |
Summary of Stock Buyback Activity Under Share Buyback Program | The following table summarizes the Company’s stock buyback activity under this share buyback program:
|  | Three Months Ended |  |  | Nine Months Ended |
(in millions, except share and per share data) |  | January 27, 2024 |  |  | January 28, 2023 |  |  | January 27, 2024 |  |  | January 28, 2023 |
Shares purchased |  |  | 130,592 |  |  |  | 179,700 |  |  |  | 453,371 |  |  |  | 1,005,514 |
Average price per share |  | $ | 22.99 |  |  | $ | 44.54 |  |  | $ | 23.73 |  |  | $ | 39.34 |
Total cost |  | $ | 3.0 |  |  | $ | 8.0 |  |  | $ | 10.8 |  |  | $ | 39.6 |
Summary of Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax | A summary of changes in AOCI, net of tax is shown below:
|  | Three Months Ended January 27, 2024 |  |  | Nine Months Ended January 27, 2024 |
(in millions) |  | Currency translation adjustments |  |  | Derivative instruments |  |  | Total |  |  | Currency translation adjustments |  |  | Derivative instruments |  |  | Total |
Balance at beginning of period |  | $ | (42.5 | ) |  | $ | (0.4 | ) |  | $ | (42.9 | ) |  | $ | (19.8 | ) |  | $ | 0.8 |  |  | $ | (19.0 | )
Other comprehensive income (loss) |  |  | 11.7 |  |  |  | (2.8 | ) |  |  | 8.9 |  |  |  | (8.6 | ) |  |  | (4.3 | ) |  |  | (12.9 | )
Tax benefit (expense) |  |  | 2.0 |  |  |  | 0.8 |  |  |  | 2.8 |  |  |  | (0.4 | ) |  |  | 1.1 |  |  |  | 0.7 |
Net other comprehensive income (loss) |  |  | 13.7 |  |  |  | (2.0 | ) |  |  | 11.7 |  |  |  | (9.0 | ) |  |  | (3.2 | ) |  |  | (12.2 | )
Balance at the end of period |  | $ | (28.8 | ) |  | $ | (2.4 | ) |  | $ | (31.2 | ) |  | $ | (28.8 | ) |  | $ | (2.4 | ) |  | $ | (31.2 | )
|  | Three Months Ended January 28, 2023 |  |  | Nine Months Ended January 28, 2023 |
(in millions) |  | Currency translation adjustments |  |  | Derivative instruments |  |  | Total |  |  | Currency translation adjustments |  |  | Derivative instruments |  |  | Total |
Balance at beginning of period |  | $ | (61.1 | ) |  | $ | 6.8 |  |  | $ | (54.3 | ) |  | $ | (30.5 | ) |  | $ | 3.7 |  |  | $ | (26.8 | )
Other comprehensive income (loss) |  |  | 37.7 |  |  |  | (5.8 | ) |  |  | 31.9 |  |  |  | 6.9 |  |  |  | (1.7 | ) |  |  | 5.2 |
Tax (expense) benefit |  |  | (0.6 | ) |  |  | 1.4 |  |  |  | 0.8 |  |  |  | (0.4 | ) |  |  | 0.4 |  |  |  | — |
Net other comprehensive income (loss) |  |  | 37.1 |  |  |  | (4.4 | ) |  |  | 32.7 |  |  |  | 6.5 |  |  |  | (1.3 | ) |  |  | 5.2 |
Balance at the end of period |  | $ | (24.0 | ) |  | $ | 2.4 |  |  | $ | (21.6 | ) |  | $ | (24.0 | ) |  | $ | 2.4 |  |  | $ | (21.6 | )
Summary of RSA and RSU Activity | The following table summarizes RSA activity:
|  | Restricted stock awards |  |  | Weighted average grant date fair value |
Non-vested at April 29, 2023 |  |  | 933,674 |  |  | $ | 28.73 |
Awarded |  |  | — |  |  | $ | — |
Vested |  |  | — |  |  | $ | — |
Forfeited |  |  | (144,000 | ) |  | $ | 28.28 |
Non-vested at January 27, 2024 |  |  | 789,674 |  |  | $ | 28.81 |
The following table summarizes RSU activity:
|  | Restricted stock units |  |  | Weighted average grant date fair value |
Non-vested at April 29, 2023 |  |  | 770,667 |  |  | $ | 30.47 |
Awarded |  |  | 211,050 |  |  | $ | 22.86 |
Vested |  |  | (1,271 | ) |  | $ | 40.84 |
Forfeited |  |  | (182,772 | ) |  | $ | 29.65 |
Non-vested at January 27, 2024 |  |  | 797,674 |  |  | $ | 28.63 |
Summary of Awards Granted to Non-employee Directors | The following table summarizes awards granted to non-employee directors:
|  | Non-employee director awards |  |  | Deferred non-employee director awards |  |  | Total |  |  | Weighted average grant date fair value |
Outstanding at April 29, 2023 |  |  | — |  |  |  | 45,750 |  |  |  | 45,750 |  |  | $ | 40.56 |
Awarded |  |  | 16,804 |  |  |  | 30,694 |  |  |  | 47,498 |  |  | $ | 33.09 |
Issued |  |  | (16,804 | ) |  |  | — |  |  |  | (16,804 | ) |  | $ | 33.32 |
Outstanding at January 27, 2024 |  |  | — |  |  |  | 76,444 |  |  |  | 76,444 |  |  | $ | 37.62 |
Summary of combined stock option activity and related information for stock options granted | The following table summarizes stock option activity:
|  | Stock options |  |  | Weighted average exercise price |  |  | Weighted- average life (years) |  |  | Aggregate intrinsic value (in millions) |
Outstanding and exercisable at April 29, 2023 |  |  | 20,000 |  |  | $ | 37.01 |  |  |  | 1.2 |  |  | $ | 0.1 |
Exercised |  |  | — |  |  | $ | — |  |  |  |  |  |  |
Forfeited |  |  | — |  |  | $ | — |  |  |  |  |  |  |
Outstanding and exercisable at January 27, 2024 |  |  | 20,000 |  |  | $ | 37.01 |  |  |  | 0.4 |  |  | $ | 0.0 |
Summary of Stock-based Compensation Expense Related to Equity Awards | The table below summarizes the stock-based compensation expense related to the equity awards:
|  | Three Months Ended |  |  | Nine Months Ended |
(in millions) |  | January 27, 2024 |  |  | January 28, 2023 |  |  | January 27, 2024 |  |  | January 28, 2023 |
RSUs |  | $ | (2.1 | ) |  | $ | 2.7 |  |  | $ | 0.2 |  |  | $ | 7.8 |
Deferred non-employee director awards |  |  | — |  |  |  | — |  |  |  | 1.0 |  |  |  | 1.0 |
Non-employee director awards |  |  | — |  |  |  | — |  |  |  | 0.6 |  |  |  | 0.6 |
Total stock-based compensation expense |  | $ | (2.1 | ) |  | $ | 2.7 |  |  | $ | 1.8 |  |  | $ | 9.4 |
The net reversal in stock-based compensation expense for RSUs in the three months ended January 27, 2024 was due to forfeitures of $3.6 million accounted for during the period.

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