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Restructuring and Asset Impairment Charges | 12 Months Ended
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May 03, 2025
Restructuring and Related Activities [Abstract] |
Restructuring and Asset Impairment Charges | Note 4. Restructuring and Asset Impairment Charges Restructuring and impairment charges includes costs related to restructuring actions taken by the Company as well as long-lived asset impairments. The Company continually monitors market factors and industry trends and takes restructuring actions to reduce overall costs and improve operational profitability as appropriate. Restructuring actions generally result in charges for employee termination benefits, plant closures, asset impairments and contract termination costs. Components of restructuring and asset impairment charges were as follows:
|  | Fiscal Year Ended |
|  | May 3, 2025 |  |  | April 27, 2024 |  |  | April 29, 2023 |
(in millions) |  | (53 Weeks) |  |  | (52 Weeks) |  |  | (52 Weeks) |
Employee termination benefits |  | $ | 1.6 |  |  | $ | 1.3 |  |  | $ | 0.3 |
Asset impairment charges |  |  | 1.1 |  |  |  | 2.4 |  |  |  | 0.7 |
Total |  | $ | 2.7 |  |  | $ | 3.7 |  |  | $ | 1.0 |
The table below presents restructuring and asset impairment charges by reportable segment:
|  | Fiscal Year Ended |
|  | May 3, 2025 |  |  | April 27, 2024 |  |  | April 29, 2023 |
(in millions) |  | (53 Weeks) |  |  | (52 Weeks) |  |  | (52 Weeks) |
Automotive |  | $ | 0.9 |  |  | $ | 0.7 |  |  | $ | 0.4 |
Industrial |  |  | 0.8 |  |  |  | 0.7 |  |  |  | 0.5 |
Interface |  |  | — |  |  |  | 0.1 |  |  |  | — |
Medical |  |  | — |  |  |  | 1.1 |  |  |  | — |
Eliminations/Corporate |  |  | 1.0 |  |  |  | 1.1 |  |  |  | 0.1 |
Total |  | $ | 2.7 |  |  | $ | 3.7 |  |  | $ | 1.0 |
Recognized in: |  |  |  |  |  |  |  |  |
Cost of products sold |  | $ | 1.1 |  |  | $ | 1.7 |  |  | $ | 0.5 |
Selling and administrative expenses |  |  | 1.6 |  |  |  | 2.0 |  |  |  | 0.5 |
|  | $ | 2.7 |  |  | $ | 3.7 |  |  | $ | 1.0 |
The Company’s restructuring liability was $0.7 million and $0.7 million as of May 3, 2025 and April 27, 2024, respectively. Estimates of restructuring costs are based on information available at the time such charges are recorded. Due to the inherent uncertainty involved in estimating restructuring costs, actual amounts paid for such activities may differ from amounts initially recorded. Accordingly, the Company may record revisions of previous estimates by adjusting previously established accruals. The Company may take additional restructuring actions in future periods based upon market conditions and industry trends.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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