Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Nov. 02, 2024

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 is shown below:

(in millions)	Total
Balance as of April 27, 2024	$	169.9
Foreign currency translation		0.5
Balance as of November 2, 2024	$	170.4

Summary of Goodwill by Reporting Unit

A summary of goodwill by reporting unit is as follows:

(in millions)	November 2, 2024		April 27, 2024
Grakon Industrial	$	124.2	$	124.4
Nordic Lights		44.5		43.9
Other		1.7		1.6
Total	$	170.4	$	169.9

Schedule of Other Intangible Assets, Net

Details of identifiable intangible assets are shown below:

	As of November 2, 2024
(in millions)	Gross		Accumulated amortization			Net		Weighted average remaining useful life (years)
Amortized intangible assets:
Customer relationships and agreements	$	307.6	$	(93.2	)	$	214.4		14.4
Trade names, patents and technology licenses		75.5		(45.7	)		29.8		6.6
Total amortized intangible assets		383.1		(138.9	)		244.2
Unamortized trade name		1.8		—			1.8
Total other intangible assets	$	384.9	$	(138.9	)	$	246.0

	As of April 27, 2024
(in millions)	Gross		Accumulated amortization			Net		Weighted average remaining useful life (years)
Amortized intangible assets:
Customer relationships and agreements	$	306.6	$	(84.7	)	$	221.9		14.8
Trade names, patents and technology licenses		75.3		(42.3	)		33.0		6.9
Total amortized intangible assets		381.9		(127.0	)		254.9
Unamortized trade name		1.8		—			1.8
Total other intangible assets	$	383.7	$	(127.0	)	$	256.7

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 2025	$	11.7
2026		22.6
2027		21.9
2028		19.7
2029		18.4
Thereafter		149.9
Total	$	244.2