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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Apr. 27, 2024
Apr. 29, 2023
Apr. 30, 2022
Operating activities:      
Net (loss) income $ (123.3) $ 77.1 $ 102.2
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 57.9 49.5 52.6
Stock-based compensation expense 3.6 11.5 11.8
Change in cash surrender value of life insurance (1.2) 0.3 0.1
Amortization of debt issuance costs 0.8 0.7 0.7
(Gain) loss on sale of property, plant and equipment (1.9) 0.6 (0.3)
Impairment of long-lived assets 2.3 0.7 3.1
Goodwill impairment 105.9    
Change in deferred income taxes (20.8) (4.6) (2.1)
Other 0.4 0.5 0.5
Changes in operating assets and liabilities:      
Accounts receivable 48.0 (21.0) (2.0)
Inventories (30.7) 8.9 (39.3)
Prepaid expenses and other assets 6.9 (25.4) 1.5
Accounts payable (4.7) 19.8 (8.7)
Other liabilities 4.3 14.2 (21.3)
Net cash provided by operating activities 47.5 132.8 98.8
Investing activities:      
Purchases of property, plant and equipment (50.2) (42.0) (38.0)
Proceeds from redemption of life insurance 10.8    
Proceeds from settlement of net investment hedge 0.6    
Proceeds from disposition of assets 21.3 3.5 0.6
Acquisition of businesses, net of cash acquired   (114.6)  
Net cash used in investing activities (17.5) (153.1) (37.4)
Financing activities:      
Taxes paid related to net share settlement of equity awards (3.8) (0.5) (0.3)
Repayments of finance leases (0.2) (0.4) (0.7)
Debt issuance costs (1.1) (3.2)  
Proceeds from exercise of stock options   1.5 0.5
Purchases of common stock (13.7) (48.1) (64.5)
Cash dividends (19.9) (19.8) (20.4)
Purchase of redeemable noncontrolling interest (10.9)    
Proceeds from borrowings 237.9 344.7  
Repayments of borrowings (207.2) (271.0) (29.2)
Net cash (used in) provided by financing activities (18.9) 3.2 (114.6)
Effect of foreign currency exchange rate changes on cash and cash equivalents (6.6) 2.1 (8.0)
Increase (decrease) in cash and cash equivalents 4.5 (15.0) (61.2)
Cash and cash equivalents at beginning of the year 157.0 172.0 233.2
Cash and cash equivalents at end of the year 161.5 157.0 172.0
Cash paid during the period for:      
Interest 17.0 5.6 3.6
Income taxes, net of refunds $ 15.0 $ 25.6 $ 32.3