XML 19 R7.htm IDEA: XBRL DOCUMENT v3.23.2
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Apr. 29, 2023
Apr. 30, 2022
May 01, 2021
Operating activities:      
Net income $ 77.1 $ 102.2 $ 122.3
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 49.5 52.6 51.5
Stock-based compensation expense 11.5 11.8 6.8
Change in cash surrender value of life insurance 0.3 0.1 (2.0)
Amortization of debt issuance costs 0.7 0.7 0.7
Loss (gain) on sale of property, plant and equipment 0.6 (0.3) 1.3
Impairment of long-lived assets 0.7 3.1 0.6
Change in deferred income taxes (4.6) (2.1) (9.6)
Other 0.5 0.5 1.4
Changes in operating assets and liabilities:      
Accounts receivable (21.0) (2.0) (81.9)
Inventories 8.9 (39.3) 11.3
Prepaid expenses and other assets (25.4) 1.5 17.9
Accounts payable 19.8 (8.7) 44.0
Other liabilities 14.2 (21.3) 15.5
Net cash provided by operating activities 132.8 98.8 179.8
Investing activities:      
Purchases of property, plant and equipment (42.0) (38.0) (24.9)
Acquisition of businesses, net of cash acquired (114.6)    
Proceeds from disposition of property, plant and equipment 3.5 0.6 0.1
Net cash used in investing activities (153.1) (37.4) (24.8)
Financing activities:      
Taxes paid related to net share settlement of equity awards (0.5) (0.3) (3.9)
Repayments of finance leases (0.4) (0.7) (0.5)
Debt issuance costs (3.2)    
Proceeds from exercise of stock options 1.5 0.5 0.8
Purchases of common stock (48.1) (64.5) (6.7)
Cash dividends (19.8) (20.4) (17.4)
Proceeds from borrowings 344.7   1.5
Repayments of borrowings (271.0) (29.2) (116.7)
Net cash provided by (used in) financing activities 3.2 (114.6) (142.9)
Effect of foreign currency exchange rate changes on cash and cash equivalents 2.1 (8.0) 3.8
(Decrease) increase in cash and cash equivalents (15.0) (61.2) 15.9
Cash and cash equivalents at beginning of the year 172.0 233.2 217.3
Cash and cash equivalents at end of the year 157.0 172.0 233.2
Cash paid during the period for:      
Interest 5.6 3.6 5.3
Income taxes, net of refunds $ 25.6 $ 32.3 $ 16.0