Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Jul. 30, 2022

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 segment, is shown below:

(in millions)	Automotive			Industrial			Total
Balance as of April 30, 2022	$	105.9		$	127.1		$	233.0
Foreign currency translation		(0.2	)		(0.1	)		(0.3	)
Balance as of July 30, 2022	$	105.7		$	127.0		$	232.7

Schedule of Other Intangible Assets, Net

Details of identifiable intangible assets are shown below:

	As of July 30, 2022
(in millions)	Gross		Accumulated amortization			Net		Weighted average useful life (years)
Amortized intangible assets:
Customer relationships and agreements	$	231.8	$	(58.1	)	$	173.7		14.5
Trade names, patents and technology licenses		57.9		(30.8	)		27.1		6.0
Total amortized intangible assets		289.7		(88.9	)		200.8
Unamortized trade name		1.8		—			1.8
Total other intangible assets	$	291.5	$	(88.9	)	$	202.6

	As of April 30, 2022
(in millions)	Gross		Accumulated amortization			Net		Weighted average useful life (years)
Amortized intangible assets:
Customer relationships and agreements	$	232.3	$	(55.1	)	$	177.2		14.7
Trade names, patents and technology licenses		58.0		(29.3	)		28.7		6.2
Total amortized intangible assets		290.3		(84.4	)		205.9
Unamortized trade name		1.8		—			1.8
Total other intangible assets	$	292.1	$	(84.4	)	$	207.7

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 2023	$	14.1
2024		18.5
2025		17.9
2026		17.0
2027		16.4
Thereafter		116.9
Total	$	200.8