Leases (Tables)

12 Months Ended

May 02, 2020

Leases [Abstract]

Lease Costs

The components of lease expense were as follows:

(Dollars in Millions)	Fiscal Year Ended May 2, 2020
Lease Cost:
Operating Lease Cost	$	9.0
Variable Lease Cost		1.3
Total Lease Cost	$	10.3

Supplemental Cash Flow

Supplemental cash flow and other information related to operating leases was as follows:

(Dollars in Millions)	Fiscal Year Ended May 2, 2020
Operating Cash Flows:
Cash Paid Related to Operating Lease Obligations	$	8.7
Non-cash Activity:
Right-of-use Assets Obtained in Exchange for Lease Obligations	$	5.5
Weighted-average Remaining Lease Term	5.7 years
Weighted-average Discount Rate		4.7	%

Maturities of Operating Lease Liabilities

Maturities of operating lease liabilities as of May 2, 2020, are shown below:

(Dollars in Millions)	Operating Leases
Fiscal Year:
2021	$	6.6
2022		5.9
2023		5.2
2024		4.0
2025		2.3
Thereafter		5.7
Total Lease Payments		29.7
Less: Imputed Interest		(3.8	)
Present Value of Lease Liabilities	$	25.9

Future Minimum Lease Payments

Future minimum lease payments for assets under operating leases as of April 27, 2019 were as follows:

(Dollars in Millions)	Operating Leases
Fiscal Years:
2020	$	7.8
2021		5.6
2022		4.9
2023		4.2
2024		3.3
Thereafter		8.4
Net Minimum Lease Payments	$	34.2