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Goodwill and Other Intangible Assets (Tables) | 3 Months Ended
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Aug. 02, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of the Changes in the Carrying Amount of Goodwill by Segment | A summary of the changes in the carrying amount of goodwill by reportable segment is as follows:
(in millions) |  | Automotive |  |  | Industrial |  |  | Total |
Balance as of May 3, 2025 |  | $ | — |  |  | $ | 172.7 |  |  | $ | 172.7 |
Foreign currency translation |  |  | — |  |  |  | 1.2 |  |  |  | 1.2 |
Gross balance |  |  | 105.9 |  |  |  | 173.9 |  |  |  | 279.8 |
Accumulated impairment |  |  | (105.9 | ) |  |  | — |  |  |  | (105.9 | )
Balance as of August 2, 2025 |  | $ | — |  |  | $ | 173.9 |  |  | $ | 173.9 |
Summary of Goodwill by Reporting Unit | A summary of goodwill by reporting unit is as follows:
(in millions) |  | August 2, 2025 |  |  | May 3, 2025 |
Grakon Industrial |  | $ | 124.7 |  |  | $ | 124.7 |
Nordic Lights |  |  | 47.6 |  |  |  | 46.4 |
Other |  |  | 1.6 |  |  |  | 1.6 |
Total |  | $ | 173.9 |  |  | $ | 172.7 |
Schedule of Other Intangible Assets, Net | Details of identifiable intangible assets are shown below:
|  | August 2, 2025 |
(in millions) |  | Gross |  |  | Accumulated amortization |  |  | Net |  |  | Weighted average remaining useful life (years) |
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships and agreements |  | $ | 314.2 |  |  | $ | (107.0 | ) |  | $ | 207.2 |  |  |  | 13.9 |
Trade names, patents and technology licenses |  |  | 77.0 |  |  |  | (51.1 | ) |  |  | 25.9 |  |  |  | 6.3 |
Total amortized intangible assets |  |  | 391.2 |  |  |  | (158.1 | ) |  |  | 233.1 |  |  |  |
Unamortized trade name |  |  | 1.8 |  |  |  | — |  |  |  | 1.8 |  |  |  |
Total other intangible assets |  | $ | 393.0 |  |  | $ | (158.1 | ) |  | $ | 234.9 |  |  |  |
|  | May 3, 2025 |
(in millions) |  | Gross |  |  | Accumulated amortization |  |  | Net |  |  | Weighted average remaining useful life (years) |
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships and agreements |  | $ | 311.8 |  |  | $ | (102.3 | ) |  | $ | 209.5 |  |  |  | 14.0 |
Trade names, patents and technology licenses |  |  | 76.5 |  |  |  | (49.4 | ) |  |  | 27.1 |  |  |  | 6.4 |
Total amortized intangible assets |  |  | 388.3 |  |  |  | (151.7 | ) |  |  | 236.6 |  |  |  |
Unamortized trade name |  |  | 1.8 |  |  |  | — |  |  |  | 1.8 |  |  |  |
Total other intangible assets |  | $ | 390.1 |  |  | $ | (151.7 | ) |  | $ | 238.4 |  |  |  |
Schedule of Estimated Aggregate Amortization Expense of Intangible Assets | Based on the current amount of intangible assets subject to amortization, the estimated aggregate amortization expense for each of the five succeeding fiscal years and thereafter is as follows:
(in millions) |  |  |
Fiscal Year: |  |  |
Remainder of fiscal 2026 |  | $ | 16.2 |
2027 |  |  | 22.4 |
2028 |  |  | 20.1 |
2029 |  |  | 18.9 |
2030 |  |  | 17.8 |
Thereafter |  |  | 137.7 |
Total |  | $ | 233.1 |

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