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Acquisition and Disposition (Tables)

12 Months Ended

May 03, 2025

Business Combinations [Abstract]

Summary of Fair Value and Subsequent Measurement Period Adjustments of Assets Acquired and Liabilities Assumed, Including Reconciliation to Total Purchase Price

The following table summarizes the final purchase price allocation in fiscal 2024 of the fair value of the assets acquired and liabilities assumed, including a reconciliation to the total purchase price.

(in millions)		As of April 27, 2024
Cash and cash equivalents		$	19.6
Accounts receivable			17.1
Inventories			9.4
Property, plant and equipment			16.8
Identifiable intangible assets			95.3
Accounts payable			(10.8	)
Long-term debt			(24.4	)
Other assets and liabilities, net			(3.3	)
Deferred tax liabilities			(19.5	)
Total identifiable net assets acquired			100.2
Goodwill			45.3
Total fair value of net assets acquired			145.5
Less: redeemable noncontrolling interest			(11.3	)
Total purchase price		$	134.2

Schedule of Intangible Assets Acquired

The following table presents details of the intangible assets acquired:

		Fair value ($m)				Weighted average useful life (Years)
Customer relationships		$	77.3				20.0
Trade Name			11.5				10.0
Technology			6.5				10.0
Total		$	95.3

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- References

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- Definition

Tabular disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived intangible assets acquired during the period by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-1

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482665/350-30-50-1

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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 805
-SubTopic 20
-Name Accounting Standards Codification
-Paragraph 1
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479907/805-20-50-1

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