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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
May 01, 2021
May 02, 2020
Apr. 27, 2019
Operating activities:      
Net income $ 122.3 $ 123.4 $ 91.6
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 51.5 48.3 43.3
Stock-based compensation expense 6.8 0.3 14.0
Change in cash surrender value of life insurance (2.0)   (0.6)
Amortization of debt issuance costs 0.7 0.7 0.5
Loss (gain) on sale of business/investment/property 1.3 (0.4) (0.4)
Change in deferred income taxes (9.6) 8.0 (4.4)
Other 2.0 (0.2) 0.2
Changes in operating assets and liabilities:      
Accounts receivable (81.9) 27.4 1.5
Inventories 11.3 (15.8) (3.9)
Prepaid expenses and other assets 17.9 (3.6) (16.7)
Accounts payable and other liabilities 59.5 (47.5) (23.1)
Net cash provided by operating activities 179.8 140.6 102.0
Investing activities:      
Purchases of property, plant and equipment (24.9) (45.1) (49.8)
Acquisition of businesses, net of cash acquired     (422.1)
Sale of business/investment/property 0.1 0.6 1.1
Net cash used in investing activities (24.8) (44.5) (470.8)
Financing activities:      
Taxes paid related to net share settlement of equity awards (3.9) (0.4) (1.7)
Repayments of finance leases (0.5) (0.7)  
Debt issuance costs     (3.1)
Proceeds from exercise of stock options 0.8    
Purchase of common stock (6.7)    
Cash dividends (17.4) (16.3) (16.3)
Proceeds from borrowings 1.5 157.5 359.0
Repayments of borrowings (116.7) (98.4) (120.5)
Net cash (used in) provided by financing activities (142.9) 41.7 217.4
Effect of foreign currency exchange rate changes on cash and cash equivalents 3.8 (3.7) (11.5)
Increase (decrease) in cash and cash equivalents 15.9 134.1 (162.9)
Cash and cash equivalents at beginning of the year 217.3 83.2 246.1
Cash and cash equivalents at end of the year 233.2 217.3 83.2
Cash paid during the period for:      
Interest 5.3 9.9 8.8
Income taxes, net of refunds $ 16.0 $ 21.1 $ 27.8