Shareholders' Equity (Tables)

6 Months Ended

Oct. 28, 2023

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Summary of Stock Buyback Activity Under Share Buyback Program

The following table summarizes the Company’s stock buyback activity under this share buyback program:

	Three Months Ended				Six Months Ended
(in millions, except share and per share data)	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
Shares purchased		322,779		508,179		322,779		825,814
Average price per share	$	24.03	$	38.69	$	24.03	$	38.21
Total cost	$	7.8	$	19.7	$	7.8	31.6

Summary of Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax

A summary of changes in AOCI, net of tax is shown below:

	Three Months Ended October 28, 2023									Six Months Ended October 28, 2023
(in millions)	Currency translation adjustments			Derivative instruments			Total			Currency translation adjustments			Derivative instruments			Total
Balance at beginning of period	$	(22.3	)	$	(0.8	)	$	(23.1	)	$	(19.8	)	$	0.8		$	(19.0	)
Other comprehensive income (loss)		(17.6	)		0.7			(16.9	)		(20.3	)		(1.5	)		(21.8	)
Tax (expense) benefit		(2.6	)		(0.3	)		(2.9	)		(2.4	)		0.3			(2.1	)
Net other comprehensive income (loss)		(20.2	)		0.4			(19.8	)		(22.7	)		(1.2	)		(23.9	)
Balance at the end of period	$	(42.5	)	$	(0.4	)	$	(42.9	)	$	(42.5	)	$	(0.4	)	$	(42.9	)

	Three Months Ended October 29, 2022									Six Months Ended October 29, 2022
(in millions)	Currency translation adjustments			Derivative instruments			Total			Currency translation adjustments			Derivative instruments			Total
Balance at beginning of period	$	(41.4	)	$	5.2		$	(36.2	)	$	(30.5	)	$	3.7		$	(26.8	)
Other comprehensive income (loss)		(19.9	)		2.1			(17.8	)		(30.8	)		4.1			(26.7	)
Tax (expense) benefit		0.2			(0.5	)		(0.3	)		0.2			(1.0	)		(0.8	)
Net other comprehensive income (loss)		(19.7	)		1.6			(18.1	)		(30.6	)		3.1			(27.5	)
Balance at the end of period	$	(61.1	)	$	6.8		$	(54.3	)	$	(61.1	)	$	6.8		$	(54.3	)

Summary of RSA and RSU Activity

The following table summarizes RSA activity:

	Restricted stock awards		Weighted average grant date fair value
Non-vested at April 29, 2023		933,674	$	28.73
Awarded		—	$	—
Vested		—	$	—
Forfeited		—	$	—
Non-vested at October 28, 2023		933,674	$	28.73

The following table summarizes RSU activity:

	Restricted stock units			Weighted average grant date fair value
Non-vested at April 29, 2023		727,467		$	30.60
Awarded		207,050		$	22.83
Vested		(866	)	$	38.24
Forfeited		(13,474	)	$	41.62
Non-vested at October 28, 2023		920,177		$	28.68

Summary of Awards Granted to Non-employee Directors

The following table summarizes awards granted to non-employee directors:

	Non-employee director awards			Deferred non-employee director awards		Total			Weighted average grant date fair value
Outstanding at April 29, 2023		—			45,750		45,750		$	40.56
Awarded		16,804			30,194		46,998		$	33.22
Issued		(16,804	)		—		(16,804	)	$	33.32
Outstanding at October 28, 2023		—			75,944		75,944		$	37.62

Summary of combined stock option activity and related information for stock options granted

The following table summarizes stock option activity:

	Stock options		Weighted average exercise price		Weighted- average life (years)		Aggregate intrinsic value (in millions)
Outstanding and exercisable at April 29, 2023		20,000	$	37.01		1.2	$	0.1
Exercised		—	$	—
Forfeited		—	$	—
Outstanding and exercisable at October 28, 2023		20,000	$	37.01		0.7	$	0.0

Summary of Stock-based Compensation Expense Related to Equity Awards

The table below summarizes the stock-based compensation expense related to the equity awards:

	Three Months Ended				Six Months Ended
(in millions)	October 28, 2023		October 29, 2022		October 28, 2023		October 29, 2022
RSUs	$	1.3	$	2.7	$	2.3	$	5.1
Deferred non-employee director awards		—		—		1.0		1.0
Non-employee director awards		—		—		0.6		0.6
Total stock-based compensation expense	$	1.3	$	2.7	$	3.9	$	6.7