Goodwill and Intangible Assets

3 Months Ended

Jul. 27, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

The following table shows goodwill by segment:

(Dollars in Millions)	July 27, 2019		April 27, 2019
Automotive	$	106.3	$	106.3
Industrial	126.7		127.0
Total	$	233.0	$	233.3

Intangible Assets

The following tables present details of the Company's identifiable intangible assets:

	July 27, 2019
(Dollars in Millions)	Gross		Accumulated Amortization		Net		Wtd. Avg. Remaining Amortization Periods (Years)
Definite-lived Intangible Assets:
Customer Relationships and Agreements	$	244.6	$	30.9	$	213.7	17.2
Trade Names, Patents and Technology Licenses	75.6		30.7		44.9		8.1
Total Definite-lived Intangible Assets	320.2		61.6		258.6
Indefinite-lived Intangible Assets:
Trade Names, Patents and Technology Licenses	1.8		—		1.8
Total Indefinite-lived Intangible Assets	1.8		—		1.8
Total Intangible Assets	$	322.0	$	61.6	$	260.4

	April 27, 2019
(Dollars in Millions)	Gross		Accumulated Amortization		Net		Wtd. Avg. Remaining Amortization Periods (Years)
Definite-lived Intangible Assets:
Customer Relationships and Agreements	$	244.5	$	27.7	$	216.8	17.4
Trade Names, Patents and Technology Licenses	75.5		29.2		46.3		8.4
Total Definite-lived Intangible Assets	320.0		56.9		263.1
Indefinite-lived Intangible Assets:
Trade Names, Patents and Technology Licenses	1.8		—		1.8
Total Indefinite-lived Intangible Assets	1.8		—		1.8
Total Intangible Assets	$	321.8	$	56.9	$	264.9

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:

 

(Dollars in Millions)
Fiscal Year:
Remainder of 2020	$	14.3
2021	19.0
2022	19.0
2023	19.0
2024	18.6
Thereafter	168.7
Total	$	258.6