Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

Jul. 27, 2024

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Schedule of Derivative Instruments Effect on Other Comprehensive Income (Loss)

Effect of derivative instruments on comprehensive income (loss)

The pre-tax effects of derivative financial instruments recorded in other comprehensive income (loss) were as follows:

	Three Months Ended
(in millions)	July 27, 2024			July 29, 2023
Net investment hedges	$	(0.9	)	$	0.1
Interest rate swaps		(1.3	)		(2.3	)
Total	$	(2.2	)	$	(2.2	)

Schedule of Fair Value of Derivative Instruments Classified as Level 2 Within Fair Value Recorded in the Condensed Consolidated Balance Sheet

The fair value of derivative instruments are classified as Level 2 within the fair value hierarchy and are recorded in the condensed consolidated balance sheets as follows:

		Asset/(Liability)
(in millions)	Financial Statement Caption	July 27, 2024			April 27, 2024
Derivatives designated as hedging instruments:
Net investment hedges	Prepaid expenses and other current assets	$	0.4		$	1.3
Interest rate swaps	Other long-term liabilities	$	(3.4	)	$	(2.1	)
Derivatives not designated as hedging instruments:
Foreign currency forward contracts	Prepaid expenses and other current assets	$	0.1		$	—
Foreign currency forward contracts	Other accrued liabilities	$	—		$	(0.2	)