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Schedule II - Valuation and Qualifying Accounts
12 Months Ended
May 03, 2025
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
Schedule II - Valuation and Qualifying Accounts

SCHEDULE II—VALUATION AND QUALIFYING ACCOUNTS

METHODE ELECTRONICS, INC. AND SUBSIDIARIES

(in millions)

 

Description

 

Balance at
beginning
of period

 

 

(Benefits)/
charges to
income

 

 

Deductions

 

 

 

Foreign exchange translation

 

 

 

Balance at
end of
period

 

Fiscal Year Ended May 3, 2025 (53 Weeks)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for uncollectible accounts

 

$

1.4

 

 

$

2.7

 

 

$

(1.1

)

 

 

$

 

 

 

$

3.0

 

Inventory obsolescence reserves

 

$

25.9

 

 

$

20.4

 

 

$

(17.8

)

 

 

$

0.4

 

 

 

$

28.9

 

Deferred tax valuation allowance

 

$

5.8

 

 

$

14.9

 

 

$

 

 

 

$

 

 

 

$

20.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year Ended April 27, 2024 (52 Weeks)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for uncollectible accounts

 

$

1.3

 

 

$

0.3

 

 

$

(0.2

)

 

 

$

 

 

 

$

1.4

 

Inventory obsolescence reserves

 

$

20.8

 

 

$

10.4

 

 

$

(5.7

)

 

 

$

0.4

 

 

 

$

25.9

 

Deferred tax valuation allowance

 

$

6.8

 

 

$

(1.0

)

 

$

 

 

 

$

 

 

 

$

5.8

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fiscal Year Ended April 29, 2023 (52 Weeks)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for uncollectible accounts

 

$

1.0

 

 

$

0.3

 

 

$

 

 

 

$

 

 

 

$

1.3

 

Inventory obsolescence reserves

 

$

16.9

 

 

$

7.8

 

 

$

(3.9

)

 

 

$

 

 

 

$

20.8

 

Deferred tax valuation allowance

 

$

6.8

 

 

$

 

 

$

 

 

 

$

 

 

 

$

6.8