Acquisitions (Tables)

12 Months Ended

May 01, 2021

Business Combinations [Abstract]

Schedule of Assets Acquired and Liabilities Assumed

The acquisition was accounted for as a business combination. The final purchase price allocation to the acquired net assets of Grakon based on the fair values of assets acquired and liabilities assumed is shown below:

(in millions)
Current assets	$	68.5
Property, plant, and equipment		16.2
Intangible assets		221.9
Goodwill		175.1
Other non-current assets		1.5
Current liabilities		(31.7	)
Other non-current liabilities		(29.4	)
Total purchase consideration, net of cash acquired	$	422.1

Unaudited Pro Forma Results

The following table presents unaudited supplemental pro forma results as if the Grakon acquisition had occurred as of the beginning of fiscal 2019. The unaudited pro forma information is presented for information purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place at such time. The unaudited pro forma results presented below primarily include amortization charges for acquired intangible assets, depreciation adjustments for property, plant and equipment that has been revalued, interest expense adjustments due to an increased debt level, adjustments for certain acquisition-related charges and related tax effects.

	Fiscal Year Ended
(in millions)	April 27, 2019
Revenues	$	1,073.3
Net income		106.4