Methode Electronics (MEI) 10-Q 5 Dec 24 2025 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Nov. 02, 2024	Dec. 02, 2024
Cover [Abstract]
Entity Registrant Name	METHODE ELECTRONICS, INC.
Entity Central Index Key	0000065270
Document Type	10-Q
Document Period End Date	Nov. 02, 2024
Amendment Flag	false
Current Fiscal Year End Date	--04-27
Entity Current Reporting Status	Yes
Trading Symbol	MEI
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		35,656,622
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	Q2
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity File Number	001-33731
Entity Tax Identification Number	36-2090085
Entity Address, Address Line One	8750 West Bryn Mawr Avenue
Entity Address, Address Line Two	Suite 1000
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60631-3518
City Area Code	708
Local Phone Number	867-6777
Entity Incorporation, State or Country Code	DE
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
Title of 12(b) Security	Common Stock, $0.50 Par Value
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Income Statement [Abstract]
Net sales	$ 292.6	$ 288	$ 551.1	$ 577.7
Cost of products sold	234.7	235.7	448.6	471.4
Gross profit	57.9	52.3	102.5	106.3
Selling and administrative expenses	42.6	40.9	88.8	85.4
Goodwill impairment		56.5		56.5
Amortization of intangibles	5.9	6.2	11.8	11.9
Income (loss) from operations	9.4	(51.3)	1.9	(47.5)
Interest expense, net	6.2	4.4	11	7.2
Other expense (income), net	1.6	(0.2)	2.4	(0.2)
Pre-tax income (loss)	1.6	(55.5)	(11.5)	(54.5)
Income tax expense (benefit)	3.2	(0.2)	8.4	(0.1)
Net loss	$ (1.6)	$ (55.3)	$ (19.9)	$ (54.4)
Loss per share:
Basic	$ (0.05)	$ (1.55)	$ (0.56)	$ (1.52)
Diluted	(0.05)	(1.55)	(0.56)	(1.52)
Cash dividends per share	$ 0.14	$ 0.14	$ 0.28	$ 0.28

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Statement of Comprehensive Income [Abstract]
Net loss	$ (1.6)	$ (55.3)	$ (19.9)	$ (54.4)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(0.5)	(20.2)	1.6	(22.7)
Derivative financial instruments	(0.9)	0.4	(2.6)	(1.2)
Other comprehensive loss	(1.4)	(19.8)	(1)	(23.9)
Comprehensive loss	$ (3)	$ (75.1)	$ (20.9)	$ (78.3)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Nov. 02, 2024	Apr. 27, 2024
Current assets:
Cash and cash equivalents	$ 97	$ 161.5
Accounts receivable, net	255.9	262.6
Inventories	228.2	186.2
Income tax receivable	4.9	4
Prepaid expenses and other current assets	24.2	18.7
Assets held for sale	2.7	4.7
Total current assets	612.9	637.7
Long-term assets:
Property, plant and equipment, net	217.2	212.1
Goodwill	170.4	169.9
Other intangible assets, net	246	256.7
Operating lease right-of-use assets, net	27.2	26.7
Deferred tax assets	35.7	34.7
Pre-production costs	43.8	44.1
Other long-term assets	21.9	21.6
Total long-term assets	762.2	765.8
Total assets	1,375.1	1,403.5
Current liabilities:
Accounts payable	129.8	132.4
Accrued employee liabilities	31.5	38
Other accrued liabilities	45.4	46
Short-term operating lease liabilities	7.6	6.7
Short-term debt	0.2	0.2
Income tax payable	8.1	8.1
Total current liabilities	222.6	231.4
Long-term liabilities:
Long-term debt	340.4	330.7
Long-term operating lease liabilities	21.5	20.6
Long-term income tax payable		9.3
Other long-term liabilities	21.4	16.8
Deferred tax liabilities	30.9	28.7
Total long-term liabilities	414.2	406.1
Total liabilities	636.8	637.5
Shareholders' equity:
Common stock, $0.50 par value, 100,000,000 shares authorized, 36,621,507 shares and 36,650,909 shares issued as of November 2, 2024 and April 27, 2024, respectively	18.3	18.3
Additional paid-in capital	188.6	183.6
Accumulated other comprehensive loss	(37.7)	(36.7)
Treasury stock, 1,346,624 shares as of November 2, 2024 and April 27, 2024	(11.5)	(11.5)
Retained earnings	580.6	612.3
Total shareholders' equity	738.3	766
Total liabilities and shareholders' equity	$ 1,375.1	$ 1,403.5

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Nov. 02, 2024	Apr. 27, 2024
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.50	$ 0.50
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	36,621,507	36,650,909
Treasury stock (in shares)	1,346,624	1,346,624

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Redeemable Noncontrolling Interest	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Treasury stock	Retained Earnings
Beginning balance at Apr. 29, 2023	$ 941.8		$ 18.6	$ 181	$ (19)	$ (11.5)	$ 772.7
Beginning balance (in shares) at Apr. 29, 2023			37,167,375
Beginning balance at Apr. 29, 2023		$ 11.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock, net of tax withholding	(3.8)		$ 0.1	(0.1)			(3.8)
Issuance of restricted stock, net of tax withholding (in shares)			189,454
Purchase of redeemable noncontrolling interest		(11.1)
Purchases of common stock	$ (7.8)		$ (0.2)				(7.6)
Purchases of common stock (in shares)	(322,779)		(322,779)
Stock-based compensation expense	$ 2.9			2.9
Other comprehensive loss	(23.9)				(23.9)
Net loss	(54.4)						(54.4)
Dividends on common stock	(9.9)						(9.9)
Ending balance at Oct. 28, 2023	844.9		$ 18.5	183.8	(42.9)	(11.5)	697
Ending balance (in shares) at Oct. 28, 2023			37,034,050
Beginning balance at Jul. 29, 2023	931.4		$ 18.7	182.5	(23.1)	(11.5)	764.8
Beginning balance (in shares) at Jul. 29, 2023			37,356,156
Beginning balance at Jul. 29, 2023		0.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock, net of tax withholding (in shares)			673
Purchase of redeemable noncontrolling interest		$ (0.9)
Purchases of common stock	$ (7.8)		$ (0.2)				(7.6)
Purchases of common stock (in shares)	(322,779)		(322,779)
Stock-based compensation expense	$ 1.3			1.3
Other comprehensive loss	(19.8)				(19.8)
Net loss	(55.3)						(55.3)
Dividends on common stock	(4.9)						(4.9)
Ending balance at Oct. 28, 2023	844.9		$ 18.5	183.8	(42.9)	(11.5)	697
Ending balance (in shares) at Oct. 28, 2023			37,034,050
Beginning balance at Apr. 27, 2024	766		$ 18.3	183.6	(36.7)	(11.5)	612.3
Beginning balance (in shares) at Apr. 27, 2024			36,650,909
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock, net of tax withholding	(0.3)		$ 0.1	0.1			(0.5)
Issuance of restricted stock, net of tax withholding (in shares)			185,923
Cancellation of restricted stock (in shares)			(79,325)
Conversion of cash bonus to RSUs	2.1			2.1
Purchases of common stock	$ (1.6)		$ (0.1)				(1.5)
Purchases of common stock (in shares)	(136,000)		(136,000)
Stock-based compensation expense	$ 2.8			2.8
Other comprehensive loss	(1)				(1)
Net loss	(19.9)						(19.9)
Dividends on common stock	(9.8)						(9.8)
Ending balance at Nov. 02, 2024	738.3		$ 18.3	188.6	(37.7)	(11.5)	580.6
Ending balance (in shares) at Nov. 02, 2024			36,621,507
Beginning balance at Jul. 27, 2024	744.4		$ 18.3	186.8	(36.3)	(11.5)	587.1
Beginning balance (in shares) at Jul. 27, 2024			36,591,684
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of restricted stock, net of tax withholding	0.2			0.2
Issuance of restricted stock, net of tax withholding (in shares)			29,823
Conversion of cash bonus to RSUs	0.1			0.1
Purchases of common stock	$ 0
Purchases of common stock (in shares)	0
Stock-based compensation expense	$ 1.5			1.5
Other comprehensive loss	(1.4)				(1.4)
Net loss	(1.6)						(1.6)
Dividends on common stock	(4.9)						(4.9)
Ending balance at Nov. 02, 2024	$ 738.3		$ 18.3	$ 188.6	$ (37.7)	$ (11.5)	$ 580.6
Ending balance (in shares) at Nov. 02, 2024			36,621,507

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023
Operating activities:
Net loss	$ (19.9)	$ (54.4)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	28.4	28.4
Stock-based compensation expense	3.7	3.9
Amortization of debt issuance costs	0.5	0.4
Partial write-off of unamortized debt issuance costs	1.2
(Gain) loss on sale of assets	(0.3)	0.5
Impairment of long-lived assets	0.4	0.6
Goodwill impairment		56.5
Change in deferred income taxes	2.5	(1)
Other	1.1	0.6
Changes in operating assets and liabilities:
Accounts receivable	5.2	12.5
Inventories	(41.3)	(29.1)
Prepaid expenses and other assets	(6.9)	(10.8)
Accounts payable	(2)	(1.8)
Other liabilities	(9.7)	(12.5)
Net cash used in operating activities	(37.1)	(6.2)
Investing activities:
Purchases of property, plant and equipment	(24)	(24.5)
Proceeds from settlement of net investment hedge		0.6
Proceeds from disposition of assets	3	1.6
Net cash used in investing activities	(21)	(22.3)
Financing activities:
Taxes paid related to net share settlement of equity awards	(0.5)	(3.8)
Repayments of finance leases	(0.1)	(0.1)
Debt issuance costs	(1.8)
Purchases of common stock	(1.6)	(7.8)
Cash dividends	(10)	(10.1)
Purchase of redeemable noncontrolling interest		(10.9)
Proceeds from borrowings	45	213.9
Repayments of borrowings	(39.1)	(179.3)
Net cash (used in) provided by financing activities	(8.1)	1.9
Effect of foreign currency exchange rate changes on cash and cash equivalents	1.7	(7.9)
Decrease in cash and cash equivalents	(64.5)	(34.5)
Cash and cash equivalents at beginning of the period	161.5	157
Cash and cash equivalents at end of the period	97	122.5
Cash paid during the period for:
Interest	10.3	6.7
Income taxes, net of refunds	15.5	14.5
Operating lease obligations	$ 4.6	$ 4.5

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (1.6)	$ (55.3)	$ (19.9)	$ (54.4)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Nov. 02, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	6 Months Ended
	Nov. 02, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Summary of Significant Accounting Policies	Note 1. Description of Business and Summary of Significant Accounting Policies Description of business Methode Electronics, Inc. (the “Company” or “Methode”) is a leading global supplier of custom engineered solutions with sales, engineering and manufacturing locations in North America, Europe, Middle East and Asia. The Company designs, engineers and produces mechatronic products for Original Equipment Manufacturers (“OEMs”) utilizing its broad range of technologies for user interface, light-emitting diode (“LED”) lighting system, power distribution and sensor applications. The Company’s solutions are found in the end markets of transportation (including automotive, commercial vehicle, e-bike, aerospace, bus and rail), cloud computing infrastructure, construction equipment and consumer appliance. Basis of presentation The unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). All intercompany balances and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. These interim condensed consolidated financial statements include all adjustments (consisting of normal recurring adjustments, except as otherwise disclosed) that management believes are necessary for a fair presentation of the results of operations, financial position and cash flows of the Company for the interim periods presented. These financial statements should be read in conjunction with the consolidated financial statements included in the Company’s Form 10-K for the year ended April 27, 2024, filed with the SEC on July 11, 2024. Results may vary from quarter to quarter for reasons other than seasonality. Financial reporting periods The Company’s fiscal year ends on the Saturday closest to April 30 of the following year, typically resulting in a 52-week year, but occasionally giving rise to an additional week, resulting in a 53-week year. The current fiscal year ending May 3, 2025 is a 53-week fiscal year, with the additional week being included in the current fiscal quarter. The three months ended November 2, 2024 and October 28, 2023 were 14 and 13 -week periods, respectively, while the six months ended November 2, 2024 and October 28, 2023 were 27 and 26 -week periods, respectively. Use of estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and the accompanying notes. These estimates and assumptions are subject to an inherent degree of uncertainty and may change, as new events occur, and additional information is obtained. As a result, actual results may differ from previously estimated amounts, and such differences may be material to the condensed consolidated financial statements. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the period they occur. Accounting pronouncements not yet adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, “ Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, ” which requires entities to provide disclosures about their reportable segments’ significant expenses on an interim and annual basis. The updated standard is effective for the Company’s annual periods beginning in fiscal 2025 and interim periods beginning in the first quarter of fiscal 2026. Early adoption is permitted. The Company is currently evaluating the impact that the updated standard will have on its financial statement disclosures. In December 2023, the FASB issued ASU No. 2023-09, “ Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ” ASU No. 2023-09 requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. ASU No. 2023-09 will become effective for the Company in the first quarter of fiscal 2026 and will be applied on a prospective basis, with a retrospective option. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its financial statement disclosures. In November 2024, the FASB issued ASU 2024-03, “ Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures.” ASU 2024-03 requires public entities to disclose more detailed information about certain costs and expenses presented in the income statement, including inventory purchases, employee compensation, selling expenses and depreciation. ASU 2024-03 will become effective for the Company’s annual periods beginning in fiscal 2028. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its financial statement disclosures. There have been no other newly issued or newly applicable accounting pronouncements that have had, or are expected to have, a material impact on the Company’s condensed consolidated financial statements. Further, at November 2, 2024 , there are no other pronouncements pending adoption that are expected to have a material impact on the Company’s condensed consolidated financial statements. Summary of significant accounting policies The Company’s significant accounting policies are described in Note 1, “Description of Business and Summary of Significant Accounting Policies,” to the consolidated financial statements included in the Company’s Form 10-K for the year ended April 27, 2024. There have been no material changes to the significant accounting policies in the six months ended November 2, 2024 . Foreign currency translation. The functional currencies of the majority of the Company’s foreign subsidiaries are their local currencies. The results of operations of these foreign subsidiaries are translated into U.S. dollars using average monthly rates, while the assets and liabilities are translated using period-end exchange rates. The resulting translation adjustments are recorded as a component of accumulated other comprehensive income (loss) (“AOCI”). Gains and losses arising from transactions denominated in a currency other than the functional currency, except certain long-term intercompany transactions, are included in the condensed consolidated statements of operations in other expense, net. Net foreign exchange loss was $ 1.7 million in the three months ended November 2, 2024 , compared to net foreign exchange gain of $ 0.3 million in the three months ended October 28, 2023 . Net foreign exchange loss was $ 2.3 million in the six months ended November 2, 2024 , compared to net foreign exchange gain of $ 0.5 million in the six months ended October 28, 2023 .

Revenue

Revenue	6 Months Ended
	Nov. 02, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Note 2. Revenue The Company generates revenue from manufacturing products for customers in diversified global markets under multi-year programs. Typically, these programs do not reach the level of a performance obligation until the Company receives either a purchase order and/or a materials release from the customer for a specific quantity at a specified price, at which point an enforceable contract exists. Contracts may also provide for annual price reductions over the production life of a program, and prices may be adjusted on an ongoing basis to reflect changes in product content/cost and other commercial factors. Sales and other taxes collected concurrent with revenue-producing activities are excluded from revenue. The majority of the Company’s revenue is recognized at a point in time. The Company has determined that the most definitive demonstration that control has transferred to a customer is physical shipment or delivery, depending on the contractual shipping terms, except for consignment transactions. Consignment transactions are arrangements where the Company transfers product to a customer location but retains ownership and control of such product until it is used by the customer. Revenue for consignment arrangements is recognized upon the customer’s usage. The Company’s revenue also includes customer cost recoveries, which represent reimbursements the Company receives from customers for incremental costs associated with spot purchases of raw materials and premium freight incurred in fulfilling its performance obligation to the customer. Given these cost recoveries are generally negotiated after contract inception, the Company accounts for these cost recoveries as a modification to the existing contract. The Company recognizes cost recoveries as revenue when (or as) the remaining performance obligations per the contract are satisfied, or on the modification date if all performance obligations under the contract have been previously satisfied. Revenue associated with products which the Company believes have no alternative use (such as highly customized parts), and where the Company has an enforceable right to payment, are recognized on an over time basis. Revenue is recognized based on progress to date, which is typically even over the production process through transfer of control to the customer. The Company’s payment terms with its customers are typically 30 - 45 days from the time control transfers. As the Company’s standard payment terms are less than one year, the Company has elected the practical expedient under Accounting Standards Codification (“ASC”) 606, “ Revenue from Contracts with Customers ” to not assess whether a contract has a significant financing component. Contract balances The Company receives payment from customers based on the contractual billing schedule and specific performance requirements established in the contract. Billings are recorded as accounts receivable when an unconditional right to the contractual consideration exists. A contract asset is an entity’s right to consideration in exchange for goods or services that the entity has transferred to a customer. A contract liability exists when an entity has received consideration, or the amount is due from the customer in advance of revenue recognition. Contract assets and contract liabilities are recognized in other current assets and other accrued liabilities, respectively in the condensed consolidated balance sheets and were immaterial as of November 2, 2024 and April 27, 2024. Disaggregated revenue information The following table represents a disaggregation of revenue from contracts with customers by segment and geographical location. Net sales are attributed to regions based on the location of production. Though revenue recognition patterns and contracts are generally consistent, the amount, timing and uncertainty of revenue and cash flows may vary in each reportable segment due to geographic and economic factors. Three Months Ended November 2, 2024 (14 Weeks) (in millions) Automotive Industrial Interface Medical Total Geographic net sales: North America $ 69.7 $ 49.9 $ 15.7 $ — $ 135.3 Europe, the Middle East & Africa ("EMEA") 66.5 48.5 — — 115.0 Asia 9.3 33.0 — — 42.3 Total net sales $ 145.5 $ 131.4 $ 15.7 $ — $ 292.6 Timing of revenue recognition: Goods transferred at a point in time $ 143.2 $ 131.4 $ 15.7 $ — $ 290.3 Goods transferred over time 2.3 — — — 2.3 Total net sales $ 145.5 $ 131.4 $ 15.7 $ — $ 292.6 Three Months Ended October 28, 2023 (13 Weeks) (in millions) Automotive Industrial Interface Medical Total Geographic net sales: North America $ 70.9 $ 52.0 $ 11.7 $ 1.5 $ 136.1 EMEA 49.7 42.8 — — 92.5 Asia 33.7 25.6 — 0.1 59.4 Total net sales $ 154.3 $ 120.4 $ 11.7 $ 1.6 $ 288.0 Timing of revenue recognition: Goods transferred at a point in time $ 149.9 $ 120.4 $ 11.7 $ 1.6 $ 283.6 Goods transferred over time 4.4 — — — 4.4 Total net sales $ 154.3 $ 120.4 $ 11.7 $ 1.6 $ 288.0 Six Months Ended November 2, 2024 (27 Weeks) (in millions) Automotive Industrial Interface Medical Total Geographic net sales: North America $ 136.0 $ 95.2 $ 27.9 $ — $ 259.1 EMEA 125.8 88.1 — — 213.9 Asia 18.5 59.6 — — 78.1 Total net sales $ 280.3 $ 242.9 $ 27.9 $ — $ 551.1 Timing of revenue recognition: Goods transferred at a point in time $ 275.4 $ 242.9 $ 27.9 $ — $ 546.2 Goods transferred over time 4.9 — — — 4.9 Total net sales $ 280.3 $ 242.9 $ 27.9 $ — $ 551.1 Six Months Ended October 28, 2023 (26 Weeks) (in millions) Automotive Industrial Interface Medical Total Geographic net sales: North America $ 137.7 $ 92.0 $ 26.9 $ 2.3 $ 258.9 EMEA 101.9 93.9 — — 195.8 Asia 73.0 49.9 — 0.1 123.0 Total net sales $ 312.6 $ 235.8 $ 26.9 $ 2.4 $ 577.7 Timing of revenue recognition: Goods transferred at a point in time $ 304.1 $ 235.8 $ 26.9 $ 2.4 $ 569.2 Goods transferred over time 8.5 — — — 8.5 Total net sales $ 312.6 $ 235.8 $ 26.9 $ 2.4 $ 577.7

Disposition

Disposition	6 Months Ended
	Nov. 02, 2024
Discontinued Operations and Disposal Groups [Abstract]
Disposition	Note 3. Disposition In the first quarter of fiscal 2024, the Company made the decision to initiate the discontinuation of the Dabir business in the Medical segment. In fiscal 2024, the Company sold certain assets and contracts of its Dabir business to a third party for consideration of $ 1.5 million and recorded a loss on the sale, including transaction costs, of $ 0.6 million. The discontinuation of the Dabir business does not qualify as a discontinued operation as it does not represent a strategic shift that will have a major effect on the Company’s operations or financial results.

Income Taxes

Income Taxes	6 Months Ended
	Nov. 02, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Note 4. Income Taxes For the three and six months ended November 2, 2024, the Company utilized the discrete effective tax rate method, treating the year-to-date period as if it was the annual period to calculate its interim income tax provision, as allowed by ASC 740-270-30-18, “ Income Taxes-Interim Reporting .” The Company concluded it could not use the estimated annual effective tax rate method as it could not calculate a reliable estimate of the annual effective tax rate due to it being highly sensitive to minor changes in the forecasted amounts, thus generating significant variability in the estimated annual effective tax rate and distorting the customary relationship between income tax expense and pre-tax income in interim periods. The Company’s income tax expense and effective tax rate for the three and six months ended November 2, 2024 and October 28, 2023 were as follows: Three Months Ended Six Months Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 ($ in millions) (14 Weeks) (13 Weeks) (27 Weeks) (26 Weeks) Pre-tax income (loss) $ 1.6 $ ( 55.5 ) $ ( 11.5 ) $ ( 54.5 ) Income tax expense (benefit) 3.2 $ ( 0.2 ) 8.4 $ ( 0.1 ) Effective tax rate 200.0 % 0.4 % ( 73.0 )% 0.2 % The effective tax rate for the three and six months ended November 2, 2024 differs from the U.S. federal statutory tax rate of 21 % primarily due to an increase in a valuation allowance for U.S. deferred tax assets and an unfavorable impact of the global intangible low-tax income (“GILTI”), partially offset by the impact of income derived from foreign operations with lower statutory tax rates, research deductions claimed in foreign jurisdictions and foreign exchange loss. The effective tax rate for the three and six months ended October 28, 2023 differs from the U.S. federal statutory tax rate of 21 % primarily due to the impact of an impairment of goodwill which is non-deductible for tax purposes, income derived from foreign operations with lower statutory tax rates and research deductions claimed in foreign jurisdictions, offset by an unfavorable impact of GILTI. As of November 2, 2024 , the Company determined that recovery of some of its U.S. deferred tax assets was not more likely than not, and a valuation allowance of $ 7.5 million has been recorded on those deferred tax assets, based on the evaluation of all available evidence. The Organization for Economic Cooperation and Development’s (“OECD”) Pillar II Initiative introduced a 15 % global minimum tax for certain multinational groups exceeding minimum annual global revenue thresholds. Some countries in which the Company operates have enacted legislation adopting the minimum tax effective January 1, 2024. To date, the Company has determined that there is an immaterial global minimum tax liability as a result of Pillar II, as certain tax jurisdictions either will not have Pillar II enacted until after December 31, 2024, or have satisfied the safe harbor test to prevent any minimum tax under Pillar II. The Company continues to monitor its jurisdictions for any changes and include any appropriate minimum tax throughout the fiscal year. The Company’s gross unrecognized income tax benefits were $ 4.5 million and $ 4.4 million as of November 2, 2024 and April 27, 2024 , respectively. If any portion of the Company’s unrecognized tax benefits is recognized, it would impact the Company’s effective tax rate. The unrecognized tax benefits are reviewed periodically and adjusted for changing facts and circumstances, such as tax audits, the lapsing of applicable statutes of limitations and changes in tax law. The Company recognizes interest and penalties related to income tax uncertainties in income tax expense. Accrued interest and penalties were $ 0.5 million and $ 0.4 million as of November 2, 2024 and April 27, 2024 , respectively.

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Nov. 02, 2024
Balance Sheet Components [Abstract]
Balance Sheet Components	Note 5. Balance Sheet Components Cash and cash equivalents Cash and cash equivalents consist of cash and highly liquid investments with maturities of three months or less. Highly liquid investments include money market funds which are classified within Level 1 of the fair value hierarchy. As of November 2, 2024 and April 27, 2024 , the Company had a balance of $ 0.2 million and $ 73.2 million, respectively, in money market accounts. Accounts receivable and allowance for doubtful accounts Accounts receivable are customer obligations due under normal trade terms and are presented net of an allowance for doubtful accounts. The Company establishes an allowance for doubtful accounts based on the current expected credit loss impairment model. The Company applies a historical loss rate based on historic write-offs to aging categories. The historical loss rate is adjusted for current conditions and reasonable and supportable forecasts of future losses as necessary. The Company may also record a specific reserve for individual accounts when it becomes aware of specific customer circumstances, such as in the case of a bankruptcy filing or deterioration in the customer’s operating results or financial position. The allowance for doubtful accounts balance was $ 2.6 million and $ 1.4 million as of November 2, 2024 and April 27, 2024, respectively. Inventories Inventories are stated at the lower-of-cost or net realizable value. Cost is determined using the first-in, first-out method. Finished products and work-in-process inventories include direct material costs and direct and indirect manufacturing costs. The Company records reserves for inventory that may be obsolete or in excess of current and future market demand. A summary of inventories is shown below: (in millions) November 2, 2024 April 27, 2024 Finished products $ 53.2 $ 45.6 Work in process 21.0 16.1 Raw materials 154.0 124.5 Total inventories $ 228.2 $ 186.2 Assets held for sale The Company classifies long-lived assets to be sold as held for sale in the period in which all of the required criteria under ASC 360 “ Property, Plant, and Equipment ” are met. The Company initially measures a long-lived asset that is classified as held for sale at the lower of its carrying value or fair value less any costs to sell. Upon determining that a long-lived asset meets the criteria to be classified as held for sale, the Company ceases depreciation and reports long-lived assets as “Assets held for sale” on the condensed consolidated balance sheets. Assets held for sale at November 2, 2024 consists of one non-core real estate asset. Assets held for sale at April 27, 2024 consisted of three non-core real estate assets, two of which were sold in the three months ended November 2, 2024. The two non-core real estate assets had an aggregate carrying value of $ 2.0 million and the Company recognized a gain of $ 0.3 million from these sales. Property, plant and equipment Property, plant and equipment is stated at cost. Maintenance and repair costs are expensed as incurred. Depreciation is calculated using the straight-line method using estimated useful lives of 5 to 40 years for buildings and building improvements and 3 to 15 years for machinery and equipment. A summary of property, plant and equipment is shown below: (in millions) November 2, 2024 April 27, 2024 Land $ 3.3 $ 3.3 Buildings and building improvements 99.4 98.5 Machinery and equipment 401.4 394.6 Construction in progress 54.4 50.4 Total property, plant and equipment, gross 558.5 546.8 Less: accumulated depreciation ( 341.3 ) ( 334.7 ) Property, plant and equipment, net $ 217.2 $ 212.1 Depreciation expense was $ 8.4 million and $ 8.2 million in the three months ended November 2, 2024 and October 28, 2023 , respectively. Depreciation expense was $ 16.6 million and $ 16.5 million in the six months ended November 2, 2024 and October 28, 2023, respectively. As of November 2, 2024 and April 27, 2024 , capital expenditures recorded in accounts payable totaled $ 4.5 million and $ 6.1 million, respectively. Pre-production tooling costs related to long-term supply arrangements The Company incurs pre-production tooling costs related to products produced for its customers under long-term supply arrangements. Engineering, testing and other costs incurred in the design and development of production parts are expensed as incurred, unless the costs are reimbursable by the customer. As of November 2, 2024 and April 27, 2024, the Company had $ 43.8 million and $ 44.1 million, respectively, of pre-production tooling costs related to customer-owned tools for which reimbursement is contractually guaranteed by the customer or for which the customer has provided a non-cancelable right to use the tooling. Costs for molds, dies and other tools used in products produced for its customers under long-term supply arrangements for which the Company has title are capitalized in property, plant and equipment and amortized over the shorter of the life of the arrangement or the estimated useful life of the assets. As of November 2, 2024 and April 27, 2024 , Company-owned tooling was $ 13.1 million and $ 14.0 million, respectively.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Nov. 02, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 6. Goodwill and Other Intangible Assets Goodwill Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. All of the Company’s goodwill is in the Industrial 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 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 The Company tests goodwill and indefinite-lived intangible assets for impairment on an annual basis as of the beginning of the fourth quarter each fiscal year. In addition, the Company continuously monitors for events and circumstances that could negatively impact the key assumptions used in determining fair value and therefore require interim goodwill impairment testing, including long-term revenue growth projections, profitability, discount rates, volatility in the Company's market capitalization, and general industry, market and macroeconomic conditions. No impairment indicators were identified in the second quarter of fiscal 2025. October 28, 2023 goodwill impairment During the three months ended October 28, 2023, the Company identified an impairment triggering event associated with a sustained decrease in the Company’s publicly quoted share price, market capitalization and lower than expected operating results. These factors suggested that the fair value of one or more of the Company’s reporting units may have fallen below their carrying amounts. As a result, the Company performed an interim quantitative impairment test and recognized a non-cash goodwill impairment charge of $ 56.5 million for two reporting units in its Automotive segment. Other intangible assets, net Details of identifiable intangible assets are shown below: As of November 2, 2024 (in millions) Gross Accumulated 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 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 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

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Nov. 02, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Note 7. Derivative Instruments and Hedging Activities The Company is exposed to various market risks including, but not limited to, foreign currency exchange rates and market interest rates. The Company strives to control its exposure to these risks through our normal operating activities and, where appropriate, through the use of derivative financial instruments. Derivative financial instruments are measured at fair value on a recurring basis using various pricing models that incorporate observable market parameters, such as interest rate yield curves and foreign currency rates and are classified as Level 2 within the fair value hierarchy. For a designated cash flow hedge, the effective portion of the change in the fair value of the derivative financial instrument is recorded in AOCI in the condensed consolidated balance sheets. When the underlying hedged transaction is realized, the gain or loss previously included in AOCI is recorded in earnings and reflected in the condensed consolidated statements of operations on the same line as the gain or loss on the hedged item attributable to the hedged risk. The gain or loss associated with changes in the fair value of derivatives not designated as hedges are recorded immediately in the condensed consolidated statements of operations on the same line as the associated risk. For a designated net investment hedge, the effective portion of the change in the fair value of the derivative financial instrument is recorded as a cumulative translation adjustment in AOCI in the condensed consolidated balance sheets. Net investment hedges The Company is exposed to the risk that adverse changes in foreign currency exchange rates could impact its net investment in non-U.S. subsidiaries. To manage this risk, the Company designates certain qualifying derivative and non-derivative instruments, including cross-currency swaps and foreign currency-denominated debt, as net investment hedges of certain non-U.S. subsidiaries. The Company has a fixed-rate, cross-currency swap, maturing on December 25, 2024 , with a notional value of $ 60.0 million (€ 54.8 million). The cross-currency swap is designated as a hedge of the Company's net investment in a euro-based subsidiary. The Company entered into the cross-currency swap to mitigate changes in net assets due to changes in U.S. dollar-euro spot exchange rate. Hedge effectiveness is assessed at the inception of the hedging relationship and quarterly thereafter, under the spot-to-spot method. The Company recognizes the impact of all other changes in fair value of the derivative, which represents the interest rate differential of the cross-currency swap, through interest expense. For the three months ended November 2, 2024 and October 28, 2023 , the Company recorded gains of $ 0.3 million and $ 0.4 million, respectively, in interest expense, net in the condensed consolidated statements of operations. For the six months ended November 2, 2024 and October 28, 2023 , the Company recorded gains of $ 0.5 million and $ 1.1 million, respectively, in interest expense, net in the condensed consolidated statements of operations. As of November 2, 2024 and April 27, 2024 , the Company designated its euro-denominated long-term borrowings of $ 297.9 million and $ 294.0 million, respectively, under the Amended Credit Agreement as a net investment hedge of the foreign currency exposure of its investment in its euro-denominated subsidiaries. Due to changes in the value of the euro-denominated long-term borrowings designated as a net investment hedge, in the three months ended November 2, 2024 and October 28, 2023 , gains, net of tax, of $ 0.4 million and $ 7.5 million, respectively, were recognized within the currency translation section of other comprehensive income (loss). In the six months ended November 2, 2024 and October 28, 2023 , a loss, net of tax, of $ 3.0 million and gain, net of tax, of $ 7.3 million, respectively, were recognized within the currency translation section of other comprehensive income (loss). Included in AOCI related to this net investment hedge were cumulative gains of $ 1.2 million and $ 4.2 million, respectively, as of November 2, 2024 and April 27, 2024. Interest rate swaps The Company utilizes interest rate swaps to limit its exposure to market fluctuations on its variable-rate borrowings. The interest rate swaps effectively convert a portion of the Company's variable rate borrowings to a fixed rate based upon a determined notional amount. The Company has an interest rate swap, maturing on October 31, 2027 , with a notional value of $ 143.1 million (€ 132.0 million). The interest rate swaps are designated as cash flow hedges. Hedge effectiveness is assessed at the inception of the hedging relationship and quarterly thereafter. The effective portion of the periodic changes in fair value is recognized in AOCI in the condensed consolidated balance sheets. Subsequently, the accumulated gains and losses recorded in AOCI are reclassified to income in the period during which the hedged cash flow impacts earnings, which are expected to be immaterial over the next 12 months. No ineffectiveness was recognized in the three or six months ended November 2, 2024 and October 28, 2023. Derivatives not designated as hedges The Company uses short-term foreign currency forward contracts to reduce the earnings impact that exchange rate fluctuations have on non-functional currency balance sheet exposures. These forward contracts are not designated as hedging instruments. Gains and losses on these forward contracts are recognized in other expense, net, along with the foreign currency gains and losses on monetary assets and liabilities, in the condensed consolidated statements of operations. As of November 2, 2024 and April 27, 2024 , the Company held foreign currency forward contracts with a notional value of $ 128.0 million and $ 110.9 million, respectively. During the three and six months ended November 2, 2024 , the Company recognized a gain of $ 0.5 million and $ 0.5 million, respectively, related to foreign currency forward contracts in the condensed consolidated statements of operations. During the three and six months ended October 28, 2023 , the Company recognized a loss of $ 0.8 million and $ 2.7 million, respectively, related to foreign currency forward contracts in the condensed consolidated statements of operations. 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 Six Months Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 (in millions) (14 Weeks) (13 Weeks) (27 Weeks) (26 Weeks) Net investment hedges $ 0.1 $ 1.1 $ ( 0.8 ) $ 1.2 Interest rate swaps ( 1.4 ) ( 0.4 ) ( 2.7 ) ( 2.7 ) Total $ ( 1.3 ) $ 0.7 $ ( 3.5 ) $ ( 1.5 ) Fair value of derivative instruments on the 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 November 2, 2024 April 27, 2024 Derivatives designated as hedging instruments: Net investment hedges Prepaid expenses and other current assets $ 0.5 $ 1.3 Interest rate swaps Other long-term liabilities $ ( 4.8 ) $ ( 2.1 ) Derivatives not designated as hedging instruments: Foreign currency forward contracts Other accrued liabilities $ ( 0.3 ) $ ( 0.2 )

Debt

Debt	6 Months Ended
	Nov. 02, 2024
Debt Disclosure [Abstract]
Debt	Note 8. Debt A summary of debt is shown below: (in millions) November 2, 2024 April 27, 2024 Revolving credit facility $ 342.9 $ 333.0 Other debt 1.4 1.5 Unamortized debt issuance costs ( 3.7 ) ( 3.6 ) Total debt 340.6 330.9 Less: current maturities ( 0.2 ) ( 0.2 ) Total long-term debt $ 340.4 $ 330.7 Revolving credit facility On October 31, 2022, the Company entered into a Second Amended and Restated Credit Agreement (the “Credit Agreement”) among the Company, Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, and the Lenders and other parties named therein. On March 6, 2024, the Company entered into a First Amendment to Second Amended and Restated Credit Agreement (the “First Amendment”) and on July 9, 2024, the Company entered into a Second Amendment to Second Amended and Restated Credit Agreement and First Amendment to Second Amended and Restated Guaranty (the “Second Amendment”) among the Company, Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, the other Lenders party thereto and other parties thereto. Among other things, the Second Amendment (i) reduced the revolving credit commitments under the Credit Agreement from $ 750 million to $ 500 million, (ii) granted a security interest in substantially all of the personal property of the Company and its U.S. subsidiaries that are guarantors, including 100 % of the equity interests of their respective U.S. subsidiaries and 65 % of the equity interests of their respective foreign subsidiaries (or such greater amount to the extent such pledge could not reasonably cause adverse tax consequences), (iii) amended the consolidated interest coverage ratio covenant for the quarters ending July 27, 2024, November 2, 2024, January 25, 2025 and May 3, 2025, (iv) amended the consolidated leverage ratio covenant for the quarter ending July 27, 2024 and each subsequent fiscal quarter, (v) amended certain interest rate provisions, (vi) added a requirement to provide monthly financial statements to the lenders through the period ending July 25, 2025, (vii) decreased the general basket exceptions to certain covenants restricting certain Company investments, liens and indebtedness for specified periods of time, (viii) increased, for fiscal year 2025, the general basket exception to a covenant restricting certain Company dispositions of property, (ix) added an “anti-cash hoarding” requirement, applicable during the period from the effective date of the Second Amendment until the earlier to occur of (a) the delivery of financial statements and a compliance certificate for the fiscal quarter ending July 25, 2025 and (b) the delivery of compliance certificates for two consecutive fiscal quarters demonstrating that the Company’s consolidated leverage ratio as of the last day of such fiscal quarters was less than 3.00 :1.00, that if the Company has cash on hand (subject to certain exceptions) of more than $ 65 million for 10 consecutive business days, the Company shall prepay the indebtedness under the credit facility by the amount of such excess and (x) made certain other changes to the investment, restricted payment and indebtedness baskets. The Credit Agreement, as amended by the First Amendment and the Second Amendment, is referred to herein as the “Amended Credit Agreement.” The Amended Credit Agreement provides for a secured multicurrency revolving credit facility of $ 500 million. In addition, the Amended Credit Agreement permits the Company to increase the revolving commitments and/or add one or more tranches of term loans under the Amended Credit Agreement from time to time by up to an amount equal to (i) $ 250 million plus (ii) an additional amount so long as the consolidated leverage ratio would not exceed 3.00 :1.00 on a pro forma basis, subject to, among other things, the receipt of additional commitments from existing and/or new lenders. The Amended Credit Agreement matures on October 31, 2027 . The Second Amendment was accounted for as a debt modification, which resulted in a non-cash loss of $ 1.2 million in the six months ended November 2, 2024 related to the partial write-off of unamortized debt issuance costs as a result of the reduction in the credit facility size. The non-cash loss was recognized in other expense, net in the Company’s condensed consolidated statement of operations. Additionally, the Company incurred debt issuance costs of approximately $ 1.8 million associated with the Second Amendment which were capitalized and, along with the current unamortized debt issuance costs, are being amortized to interest expense on a straight-line basis over remaining term of the Amended Credit Agreement. Loans denominated in US dollars under the Amended Credit Agreement bear interest at either (a) an adjusted base rate or (b) an adjusted term Secured Overnight Financing Rate (“SOFR”) rate or term SOFR daily floating rate (in each case, as determined in accordance with the provisions of the Amended Credit Agreement in each case plus an applicable rate (the “Applicable Rate”) ranging between 0.375 % and 1.75 %, in the case of adjusted base rate loans, and between 1.375 % and 2.75 %, in the case of adjusted term SOFR rate loans and term SOFR daily floating rate loans. Loans denominated in euros will bear interest at the Euro Interbank Offered Rate plus an Applicable Rate ranging between 1.375 % and 2.75 %. The Applicable Rate is set based on the Company’s consolidated leverage ratio. As of November 2, 2024 , the outstanding balance under the revolving credit facility consisted of $ 297.9 million (€ 275.0 million) of euro-denominated borrowings and $ 45.0 million of US dollar denominated borrowings. The Company has designated the euro-denominated borrowings as a net investment hedge of the foreign currency exposure of its investments in euro-denominated subsidiaries. Refer to Note 7, “Derivative Instruments and Hedging Activities” for further information. The weighted-average interest rate on outstanding US dollar and euro-denominated borrowings under the Amended Credit Agreement was approximately 7.9 % and 6.3 % as of November 2, 2024. The Amended Credit Agreement contains customary representations and warranties, financial covenants, restrictive covenants and events of default. The Amended Credit Agreement contains various representations and warranties, financial covenants (including covenants requiring the Company to maintain compliance with a minimum consolidated interest coverage ratio and a maximum consolidated leverage ratio, in each case as of the end of each fiscal quarter of the Company), restrictive and other covenants, and events of default. The covenants in the Amended Credit Agreement include an “anti-cash hoarding” requirement, as discussed above. As of November 2, 2024, the Company was in compliance with all the covenants in the Amended Credit Agreement. Other debt One of the Company’s European subsidiaries has debt that consists of one note with a maturity in 2031. The weighted-average interest rate on this debt was approximately 1.8 % as of November 2, 2024 and $ 0.2 million of the debt was classified as short-term.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Nov. 02, 2024
Share-Based Payment Arrangement [Abstract]
Shareholders' Equity	Note 9. Shareholders’ Equity Repurchases of Common Stock On March 31, 2021, as subsequently amended on June 16, 2022, the Board of Directors authorized the purchase of up to $ 200.0 million of the Company’s outstanding common stock through June 14, 2024 (the “2021 Buyback Authorization”). On June 13, 2024, the Board of Directors approved a new share buyback authorization, commencing on June 17, 2024, for the purchase of up to $ 200.0 million of the Company’s outstanding common stock through June 17, 2026 (the “2024 Buyback Authorization”). Purchases may be made on the open market, including pursuant to purchase plans designed to comply with Rule 10b5-1 of the Securities Exchange Act of 1934, or in private transactions. The following table summarizes activity under the 2021 Buyback Authorization: Three Months Ended Six Months Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 (in millions, except share and per share data) (14 Weeks) (13 Weeks) (27 Weeks) (26 Weeks) Shares purchased — 322,779 136,000 322,779 Average price per share $ — $ 24.03 $ 11.55 $ 24.03 Total cost $ — $ 7.8 $ 1.6 $ 7.8 Prior to its expiration, a total of 3,553,961 shares were purchased under the 2021 Buyback Authorization at a total cost of $ 134.6 million. All purchased shares were retired and are reflected as a reduction of common stock for the par value of shares, with the excess applied as a reduction to retained earnings. In the three and six months ended November 2, 2024 , there were zero and 136,000 shares purchased under the 2021 Buyback Authorization and no shares purchased under the 2024 Buyback Authorization. No further shares can be purchased under the 2021 Buyback Authorization. As of November 2, 2024, the dollar value of shares that remained available to be purchased by the Company under 2024 Buyback Authorization was $ 200.0 million. Dividends The Company paid dividends totaling $ 4.9 million and $ 4.8 million in the three months ended November 2, 2024 and October 28, 2023, respectively. The Company paid dividends totaling $ 10.0 million and $ 10.1 million in the six months ended November 2, 2024 and October 28, 2023, respectively. Dividends paid in the six months ended November 2, 2024 and October 28, 2023 , include $ 0.2 million and $ 0.4 million of dividend equivalent payments for restricted stock units that vested. Accumulated other comprehensive income (loss) Comprehensive income (loss) is defined as the change in equity of a business enterprise during a period from transactions and other events and circumstances from non-owner sources. A summary of changes in AOCI, net of tax is shown below: Three Months Ended November 2, 2024 (14 Weeks) Six Months Ended November 2, 2024 (27 Weeks) (in millions) Currency translation adjustments Derivative instruments Total Currency translation adjustments Derivative instruments Total Balance at beginning of period $ ( 34.4 ) $ ( 1.9 ) $ ( 36.3 ) $ ( 36.5 ) $ ( 0.2 ) $ ( 36.7 ) Other comprehensive income (loss) ( 0.4 ) ( 1.3 ) ( 1.7 ) 0.7 ( 3.5 ) ( 2.8 ) Tax expense (benefit) ( 0.1 ) 0.4 0.3 0.9 0.9 1.8 Net other comprehensive income (loss) ( 0.5 ) ( 0.9 ) ( 1.4 ) 1.6 ( 2.6 ) ( 1.0 ) Balance at the end of period $ ( 34.9 ) $ ( 2.8 ) $ ( 37.7 ) $ ( 34.9 ) $ ( 2.8 ) $ ( 37.7 ) Three Months Ended October 28, 2023 (13 Weeks) Six Months Ended October 28, 2023 (26 Weeks) (in millions) Currency translation adjustments Derivative instruments Total Currency translation adjustments Derivative instruments Total Balance at beginning of period $ ( 22.3 ) $ ( 0.8 ) $ ( 23.1 ) $ ( 19.8 ) $ 0.8 $ ( 19.0 ) Other comprehensive income (loss) ( 17.6 ) 0.7 ( 16.9 ) ( 20.3 ) ( 1.5 ) ( 21.8 ) Tax expense (benefit) ( 2.6 ) ( 0.3 ) ( 2.9 ) ( 2.4 ) 0.3 ( 2.1 ) Net other comprehensive income (loss) ( 20.2 ) 0.4 ( 19.8 ) ( 22.7 ) ( 1.2 ) ( 23.9 ) Balance at the end of period $ ( 42.5 ) $ ( 0.4 ) $ ( 42.9 ) $ ( 42.5 ) $ ( 0.4 ) $ ( 42.9 ) Stock-based compensation The Company has granted stock options, restricted stock awards (“RSAs”), performance units (“PUs”), restricted stock units (“RSUs”), performance stock units (“PSUs”) and stock awards to employees and non-employee directors under the Methode Electronics, Inc. 2022 Omnibus Incentive Plan (“2022 Plan”), the Methode Electronics, Inc. 2014 Omnibus Incentive Plan (“2014 Plan”), the Methode Electronics, Inc. 2010 Stock Plan (“2010 Plan”), and the Methode Electronics, Inc. 2004 Stock Plan (“2004 Plan”). The Company can no longer make grants under the 2014 Plan, 2010 Plan and 2004 Plan. Subject to adjustment as provided in the 2022 Plan and the 2022 Plan’s share counting provisions, the number of shares of the Company's common stock that will be available for all awards under the 2022 Plan is 5,550,000 , less an amount to reflect shares, options or other awards granted under prior plans after April 30, 2022. As of November 2, 2024 , there were approximately 3.8 million shares available for award under the 2022 Plan. Restricted stock awards and performance units As of November 2, 2024 , the Company had 710,349 RSAs outstanding which may be earned based on the achievement of an earnings before net interest, taxes, fixed asset depreciation and intangible asset amortization (“EBITDA”) measure for fiscal 2025. The RSAs will vest ranging from 0 % (for performance below threshold) to 100 % (target performance) based on the achievement of the EBITDA performance measure and continued employment. In addition, if the target performance is exceeded, up to an additional 355,175 PUs can be earned that will be settled in cash. The fair value of the RSAs was based on the closing stock price on the date of grant and the RSAs earn dividend equivalents during the vesting period, which are forfeitable if the RSAs do not vest. Compensation expense for the RSAs is recognized when it is probable the minimum threshold performance criteria will be achieved. Compensation expense for the PUs is recognized when it is probable that the target performance criteria will be exceeded. The Company assesses the probability of vesting at each balance sheet date and adjusts compensation costs based on the probability assessment. The cash-settled PUs represent a non-equity unit with a conversion value equal to the fair market value of a share of the Company’s common stock on the vesting date. The PUs are classified as liability awards due to the cash settlement feature and are re-measured at each balance sheet date. In accordance with ASC 718, “ Compensation - Stock Compensation,” based on projections of the Company’s current business portfolio, no compensation expense has been recognized for the RSAs or PUs to date, as the performance conditions are not probable of being met. Unrecognized stock-based compensation expense at target level of performance is $ 20.5 million as of November 2, 2024 , which, subject to the performance conditions being met, will be recognized through fiscal 2025. The following table summarizes RSA activity: Restricted Weighted Non-vested at April 27, 2024 789,674 $ 28.81 Awarded — $ — Vested — $ — Forfeited ( 79,325 ) $ 28.28 Non-vested at November 2, 2024 710,349 $ 28.87 Performance stock units In the six months ended November 2, 2024 , the Company granted 192,779 PSUs which will vest upon the achievement of a total stockholder return (“TSR”) measure based on the growth in the Company’s stock price over a three-year performance period that ends April 30, 2027. The number of shares to be issued may range from 0 % to a maximum of 200 % of the PSUs granted. The Company estimated the grant date fair value of the PSUs using the Monte Carlo simulation model, as the TSR metric and changes in stock price are considered market conditions under ASC 718. The following table provides a summary of the weighted-average assumptions for the PSUs granted: Assumptions Expected volatility 52.01 % Risk free interest rate 4.07 % Expected term (in years) 2.74 Grant date fair value $ 14.91 The PSUs earn dividend equivalents during the vesting periods, which are forfeitable if the PSUs do not vest. Unrecognized compensation expense for the PSUs was $ 2.6 million, which is expected to be recognized over a weighted average period of approximately three years . The following table summarizes PSU activity: Performance Weighted Non-vested at April 27, 2024 — $ — Awarded 192,779 $ 14.91 Vested — $ — Forfeited — $ — Non-vested at November 2, 2024 192,779 $ 14.91 Restricted stock units RSUs granted vest over a pre-determined period of time, up to five years from the date of grant. The fair value of the RSUs granted are based on the closing stock price on the date of grant and earn dividend equivalents during the vesting periods, which are forfeitable if the RSUs do not vest. The following table summarizes RSU activity: Restricted Weighted Non-vested at April 27, 2024 941,640 $ 26.43 Awarded 267,833 $ 12.25 Conversion of cash bonus to RSUs 160,401 $ 12.87 Vested ( 395,412 ) $ 28.30 Forfeited ( 182,596 ) $ 22.72 Non-vested at November 2, 2024 791,866 $ 18.81 In the six months ended November 2, 2024 , 160,401 RSUs were awarded in exchange for cash bonuses earned by certain employees. These RSUs vest on March 7, 2025. As the expense associated with the cash bonuses was previously recognized in fiscal 2024, there is no incremental expense to be recognized for the RSUs. The Company reclassified $ 2.1 million from accrued employee liabilities to additional paid-in capital on its condensed consolidated balance sheets related to the conversion of the cash bonuses to RSUs. Under the various stock plans, RSUs that have vested for certain executives, including Donald W. Duda, the Company’s former CEO, and Ronald L.G. Tsoumas, the Company’s former CFO, will not be delivered in common stock until the first day of the seventh month following the executive’s termination from the Company or upon a change of control. As of November 2, 2024 , common stock to be delivered to these executives totaled 793,108 shares, of which 707,555 shares were delivered on November 5, 2024. The vested deferred RSUs are considered outstanding for earnings per share calculations. Director awards The Company grants stock awards to its non-employee directors as a component of their compensation. The stock awards vest immediately upon grant. Non-employee directors may elect to defer receipt of their shares under the Company’s non-qualified deferred compensation plan. The following table summarizes awards granted to non-employee directors: Non-employee director awards Deferred non-employee director awards Total Weighted Outstanding at April 27, 2024 — 77,319 77,319 $ 37.23 Awarded 56,680 86,786 143,466 $ 9.92 Issued ( 56,680 ) ( 23,756 ) ( 80,436 ) $ 10.49 Outstanding at November 2, 2024 — 140,349 140,349 $ 22.80 Stock options The following table summarizes stock option activity: Stock Weighted average exercise price Weighted- Aggregate Outstanding and exercisable at April 27, 2024 8,000 $ 37.01 0.2 $ 0.0 Exercised — $ — Forfeited ( 8,000 ) $ 37.01 Outstanding and exercisable at November 2, 2024 — $ — 0.0 $ 0.0 Stock-based compensation expense All stock-based awards to employees and non-employee directors are recognized in selling and administrative expenses on the condensed consolidated statements of operations. Awards subject to graded vesting are recognized using the accelerated recognition method over the requisite service period. The table below summarizes the stock-based compensation expense related to the equity awards: Three Months Ended Six Months Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 (in millions) (14 Weeks) (13 Weeks) (27 Weeks) (26 Weeks) RSUs $ 1.3 $ 1.3 $ 2.0 $ 2.3 PSUs 0.2 — 0.2 — Deferred non-employee director awards — — 0.9 1.0 Non-employee director awards — — 0.6 0.6 Total stock-based compensation expense $ 1.5 $ 1.3 $ 3.7 $ 3.9

Loss per Share

Loss per Share	6 Months Ended
	Nov. 02, 2024
Earnings Per Share [Abstract]
Loss per Share	Note 10. Loss per Share Basic loss per share is calculated by dividing net loss by the weighted average number of common shares outstanding for the applicable period, but excludes any contingently issued shares where the contingency has not been resolved. The weighted average number of common shares used in the diluted loss per share calculation is determined using the treasury stock method which includes the effect of all potential dilutive common shares outstanding during the period. The following table sets forth the computation of basic and diluted loss per share: Three Months Ended Six Months Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 (14 Weeks) (13 Weeks) (27 Weeks) (26 Weeks) Numerator: Net loss (in millions) $ ( 1.6 ) $ ( 55.3 ) $ ( 19.9 ) $ ( 54.4 ) Denominator: Denominator for basic loss per share - weighted average shares outstanding and vested/unissued restricted stock units 35,494,664 35,671,677 35,460,586 35,679,776 Dilutive potential common shares — — — — Denominator for diluted loss per share 35,494,664 35,671,677 35,460,586 35,679,776 Loss per share: Basic $ ( 0.05 ) $ ( 1.55 ) $ ( 0.56 ) $ ( 1.52 ) Diluted $ ( 0.05 ) $ ( 1.55 ) $ ( 0.56 ) $ ( 1.52 ) Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 1,220,031 1,543,183 1,112,511 1,536,206 In the three and six months ended November 2, 2024 and October 28, 2023 , all potential common shares issuable for PSUs and RSUs were excluded from the calculation of diluted loss per share, as the effect of including them would have been anti-dilutive. The dilutive effect of potential common shares issuable for PSUs and RSUs on the weighted-average number of common shares outstanding would have been approximately 231,000 and 584,000 common shares for the three months ended November 2, 2024 and October 28, 2023 , respectively. The dilutive effect of potential common shares issuable for PSUs and RSUs on the weighted-average number of common shares outstanding would have been approximately 150,000 and 589,000 common shares for the six months ended November 2, 2024 and October 28, 2023 , respectively.

Segment Information

Segment Information	6 Months Ended
	Nov. 02, 2024
Segment Reporting [Abstract]
Segment Information	Note 11. Segment Information An operating segment is defined as a component of an enterprise that engages in business activities from which it may earn revenues and incur expenses, and about which separate financial information is regularly evaluated by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources. The CODM is the Company’s Chief Executive Officer (“CEO”). The Automotive segment supplies electronic and electro-mechanical devices and related products to automobile OEMs, either directly or through their tiered suppliers. Products include integrated overhead and center consoles, hidden and ergonomic switches, transmission lead-frames, insert molded components, LED-based lighting and sensors, which incorporate magneto-elastic sensing and other sensing technologies that monitor the operation or status of a component or system. The Industrial segment manufactures exterior and interior lighting solutions, industrial safety radio remote controls, braided flexible cables, current-carrying laminated busbars and devices, custom power-product assemblies, such as our PowerRail® solution, high-current high-voltage flexible power cabling systems and powder-coated busbars that are used in various markets and applications, including aerospace, commercial vehicles, data centers, industrial equipment, power conversion, military, telecommunications and transportation. The Interface segment provides a variety of high-speed digital communication over copper media solutions for the data center and broadband markets, and interface panel solutions for the appliance market. Solutions include copper transceivers, distribution point units, and solid-state field-effect consumer touch panels. The Medical segment was made up of the Company’s medical device business, Dabir Surfaces, with its surface support technology aimed at pressure injury prevention. In the first quarter of fiscal 2024, the Company made the decision to initiate the discontinuation of Dabir Surfaces. In the second quarter of fiscal 2024, the Company sold certain assets of its Dabir Surfaces business. See Note 3, “Disposition” for more information. The tables below present information about the Company’s reportable segments: Three Months Ended November 2, 2024 (14 Weeks) (in millions) Automotive Industrial Interface Medical Eliminations/ Consolidated Net sales $ 148.1 $ 139.4 $ 15.7 $ — $ ( 10.6 ) $ 292.6 Transfers between segments ( 2.6 ) ( 8.0 ) — — 10.6 — Net sales to unaffiliated customers $ 145.5 $ 131.4 $ 15.7 $ — $ — $ 292.6 Income (loss) from operations $ 0.7 $ 24.3 $ 4.7 $ — $ ( 20.3 ) $ 9.4 Interest expense, net 6.2 Other expense, net 1.6 Pre-tax income $ 1.6 Three Months Ended October 28, 2023 (13 Weeks) (in millions) Automotive Industrial Interface Medical Eliminations Consolidated Net sales $ 158.0 $ 128.0 $ 11.7 $ 1.6 $ ( 11.3 ) $ 288.0 Transfers between segments ( 3.7 ) ( 7.6 ) — — 11.3 — Net sales to unaffiliated customers $ 154.3 $ 120.4 $ 11.7 $ 1.6 $ — $ 288.0 Income (loss) from operations $ ( 61.5 ) $ 25.7 $ 1.0 $ ( 0.7 ) $ ( 15.8 ) $ ( 51.3 ) Interest expense, net 4.4 Other expense, net ( 0.2 ) Pre-tax loss $ ( 55.5 ) Goodwill impairment $ 56.5 $ — $ — $ — $ — $ 56.5 Six Months Ended November 2, 2024 (27 Weeks) (in millions) Automotive Industrial Interface Medical Eliminations/ Consolidated Net sales $ 284.8 $ 256.5 $ 27.9 $ — $ ( 18.1 ) $ 551.1 Transfers between segments ( 4.5 ) ( 13.6 ) — — 18.1 — Net sales to unaffiliated customers $ 280.3 $ 242.9 $ 27.9 $ — $ — $ 551.1 Income (loss) from operations $ ( 5.0 ) $ 41.2 $ 6.6 $ — $ ( 40.9 ) $ 1.9 Interest expense, net 11.0 Other expense, net 2.4 Pre-tax loss $ ( 11.5 ) Six Months Ended October 28, 2023 (26 Weeks) (in millions) Automotive Industrial Interface Medical Eliminations Consolidated Net sales $ 319.1 $ 250.6 $ 27.0 $ 2.4 $ ( 21.4 ) $ 577.7 Transfers between segments ( 6.5 ) ( 14.8 ) ( 0.1 ) — 21.4 — Net sales to unaffiliated customers $ 312.6 $ 235.8 $ 26.9 $ 2.4 $ — $ 577.7 Income (loss) from operations $ ( 64.3 ) $ 49.9 $ 3.9 $ ( 2.9 ) $ ( 34.1 ) $ ( 47.5 ) Interest expense, net 7.2 Other income, net ( 0.2 ) Pre-tax loss $ ( 54.5 ) Goodwill impairment $ 56.5 $ — $ — $ — $ — $ 56.5 (in millions) November 2, 2024 April 27, 2024 Identifiable assets: Automotive $ 617.7 $ 592.7 Industrial 608.8 604.5 Interface 71.4 67.1 Medical 0.2 0.2 Eliminations/Corporate 77.0 139.0 Total identifiable assets $ 1,375.1 $ 1,403.5

Contingencies

Contingencies	6 Months Ended
	Nov. 02, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Note 12. Contingencies Certain litigation arising in the normal course of business is pending against us. The Company is, from time-to-time, subject to various legal actions and claims incidental to our business, including those arising out of alleged defects, breach of contracts, employment-related matters, environmental matters and intellectual property matters. The Company has established loss provisions for matters in which losses are deemed probable and reasonably estimable. The Company considers insurance coverage and third-party indemnification, among other things, when determining required accruals for pending litigation and claims. Although the outcome of potential legal actions and claims cannot be predicted with certainty, it is the Company's opinion, based on the information available, that it has adequate reserves for these liabilities. However, the ultimate outcome of any matter could require payment in excess of any amount that the Company may have accrued. Hetronic Germany-GmbH Matters For several years, Hetronic Germany-GmbH and Hydronic-Steuersysteme-GmbH (the “Fuchs companies”) served as our distributors for Germany, Austria and other central and eastern European countries pursuant to their respective intellectual property licenses and distribution and assembly agreements. The Company became aware that the Fuchs companies and their managing director, Albert Fuchs, had materially violated those agreements. As a result, the Company terminated all of its agreements with the Fuchs companies. On June 20, 2014, the Company filed a lawsuit against the Fuchs companies in the Federal District Court for the Western District of Oklahoma alleging material breaches of the distribution and assembly agreements and seeking damages, as well as various forms of injunctive relief. The defendants filed counterclaims alleging breach of contract, interference with business relations and business slander. On April 2, 2015, the Company amended its complaint against the Fuchs companies to add additional unfair competition and Lanham Act claims and to add additional affiliated parties. A trial with respect to the matter began in February 2020. During the trial, the defendants dismissed their one remaining counterclaim with prejudice. On March 2, 2020, the jury returned a verdict in favor of the Company. The verdict included approximately $ 102 million in compensatory damages and $ 11 million in punitive damages. On April 22, 2020, the District Court entered a permanent injunction barring defendants from selling infringing products and ordering them to return Hetronic’s confidential information. Defendants appealed entry of the permanent injunction. On May 29, 2020, the District Court held defendants in contempt for violating the permanent injunction and entered the final judgment. Defendants appealed entry of the final monetary judgment as well. The appeal of the permanent injunction and the appeal of the final judgment were consolidated into a single appeal before the U.S. Court of Appeals for the Tenth Circuit. On August 24, 2021, the Tenth Circuit issued a decision affirming the lower court’s ruling with the exception that it instructed the District Court to modify the injunction from the entire world to all of the countries in which Hetronic sells its products. On April 20 and 21, 2022, the District Court held a hearing related to modifying the injunction pursuant to the Tenth Circuit’s opinion, and the parties have filed post-hearing briefs. The defendants also filed a petition for certiorari with the United States Supreme Court seeking to further appeal the extraterritorial application of the Lanham Act in this case. The Company opposed that petition. The Supreme Court requested the views of the Solicitor General on the petition for certiorari, and the Solicitor General recommended granting the petition. On November 4, 2022, the Supreme Court granted the petition. The Supreme Court heard arguments in this matter on March 21, 2023. On June 29, 2023, the Supreme Court vacated the Tenth Circuit’s August 2021 decision and remanded the matter back to the Tenth Circuit for further proceedings. On September 1, 2023, the Tenth Circuit requested supplemental briefing from the parties regarding the effect of the Supreme Court’s decision on the appeal and the proper course of further proceedings. That briefing was thereafter submitted, and the Tenth Circuit heard argument in this matter on January 24, 2024. On April 23, 2024, the Tenth Circuit issued an opinion affirming the District Court’s final judgment on the state law breach of contract and tort claims (this affirmed final judgment amount represents only approximately $ 22.5 million of the vacated original $ 113 million final judgment that had been entered in 2020) and remanding for further non-trial proceedings with respect to the appropriate remedies for the Lanham Act claims in light of the Supreme’s Court ruling that the Lanham Act does not apply extraterritorially. On August 5, 2024, the District Court entered an amended permanent injunction and amended final judgment. The amended permanent injunction limited the geographic reach of the permanent injunction barring defendants from selling infringing products so that it only applies in the United States and reaffirmed the court’s prior order requiring defendants to return Hetronic’s confidential information. The amended final judgment reaffirmed the final judgment of approximately $ 22.5 million plus interest for the state law breach of contract and tort claims and entered judgment in an amended amount of approximately $ 0.3 million plus interest for the infringing U.S. sales under the Lanham Act. The deadline for any appeals of the District Court’s orders was September 4, 2024 and no appeal of those orders was filed before that deadline. The Company has not received payment of any portion of the judgment from the defendants. Like any judgment, particularly a judgment involving defendants outside of the United States, there is no guarantee that the Company will be able to collect all or any portion of the judgment. Furthermore, defendants Abitron Germany and Hetronic Germany filed for insolvency in German court in September and October 2023 respectively, and the Germany insolvency court then appointed a receiver. These insolvency proceedings could potentially adversely impact our ability to enforce or collect upon the judgment or portions of the judgment or otherwise pursue or enforce claims or rights against those defendants. Stockholder Litigation On August 26, 2024, a putative class action lawsuit on behalf of purchasers of Company common stock between June 23, 2022 and March 6, 2024, inclusive, entitled Marie Salem v. Methode Electronics, Inc. et al. was filed in the U.S. District Court for the Northern District of Illinois against the Company, a former Chief Executive Officer, President and director of the Company and a former Chief Financial Officer of the Company. The complaint alleges, among other things, that the defendants made false and/or misleading statements relating to the Company’s business, operations and prospects, including in respect of the Company’s transition to production of more specialized components for manufacturers of electric vehicles and the Company’s operations at its facility in Monterrey, Mexico, in violation of Sections 10(b) and 20 of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The complaint seeks, among other things, unspecified money damages along with equitable relief and costs and expenses, including counsel fees and expert fees. Another purported shareholder filed a substantially similar action in the U.S. District Court for the Northern District of Illinois on October 7, 2024 against the same defendants and a former Chief Operating Officer of the Company, in a case entitled City of Cape Coral Municipal General Employees Retirement Plan v. Methode Electronics, Inc., et al. The second securities class action was filed on behalf of a broader putative class of purchasers of Company common stock between December 2, 2021 and March 6, 2024. In addition, on November 26, 2024, a purported shareholder filed a derivative lawsuit on behalf of the Company in the U.S. District Court for the Northern District of Illinois against the current members of the Company’s Board of Directors, as well as certain former directors and executives, alleging that the defendants breached their fiduciary duties by allowing the Company to issue various statements that are alleged to have been false or misleading for the same reasons alleged in the securities class action complaints. The derivative lawsuit is entitled Ray Homsi v. Donald Duda, et al. (together with the Salem and City of Cape Coral matters, the “Stockholder Actions”). The Company disagrees with and intends to vigorously defend against the Stockholder Actions. The Stockholder Actions could result in costs and losses to the Company, including potential costs associated with the indemnification of the other defendants. At this time, given the current status of the Stockholder Actions, the Company is unable to reasonably estimate an amount or range of reasonably possible loss, if any, that may result from the Stockholder Actions. SEC Investigation The Company received a subpoena from the SEC dated November 1, 2024 seeking documents and information relating to, among other things, the Company’s operations in certain foreign countries, certain financial and accounting matters relating thereto, compliance with the Foreign Corrupt Practices Act and other anti-corruption laws, and material weaknesses in the Company’s internal control over financial reporting previously reported in its public filings. The Company is cooperating with the SEC. The subpoena and related investigation or other future requests for information could result in costs to the Company, including the expenditure of financial and managerial resources. In addition, this request may lead to the assertion of claims or the commencement of legal proceedings against the Company, which in turn may lead to material fines, penalties or other liabilities. However, at this time, the Company is unable to reasonably estimate an amount or range of reasonably possible loss, if any, that may result from these matters.

Restructuring and Asset Impairm

Restructuring and Asset Impairment Charges	6 Months Ended
	Nov. 02, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Asset Impairment Charges	Note 13. Restructuring and Asset Impairment Charges Restructuring and asset impairment charges includes costs related to restructuring actions taken by the Company as well as long-lived asset impairments. The Company continually monitors market factors and industry trends and takes restructuring actions to reduce overall costs and improve operational profitability as appropriate. Restructuring actions generally result in charges for employee termination benefits, plant closures, asset impairments and contract termination costs. Components of restructuring and asset impairment charges were as follows: Three Months Ended Six Months Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 (in millions) (14 Weeks) (13 Weeks) (27 Weeks) (26 Weeks) Employee termination benefits $ — $ 0.6 $ 0.3 $ 0.7 Asset impairment charges 0.1 — 0.4 0.6 Total $ 0.1 $ 0.6 $ 0.7 $ 1.3 The table below presents restructuring and asset impairment charges by reportable segment. Three Months Ended Six Months Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 (in millions) (14 Weeks) (13 Weeks) (27 Weeks) (26 Weeks) Automotive $ — $ 0.2 $ 0.3 $ 0.2 Industrial 0.1 — 0.1 — Interface — — — — Medical — 0.4 — 1.1 Eliminations/Corporate — — 0.3 — Total $ 0.1 $ 0.6 $ 0.7 $ 1.3 Recognized in: Cost of products sold $ 0.1 $ 0.2 $ 0.4 $ 0.8 Selling and administrative expenses — 0.4 0.3 0.5 $ 0.1 $ 0.6 $ 0.7 $ 1.3 The Company’s restructuring liability was $ 0.1 million and $ 0.7 million as of November 2, 2024 and April 27, 2024, respectively. Estimates of restructuring costs are based on information available at the time such charges are recorded. Due to the inherent uncertainty involved in estimating restructuring costs, actual amounts paid for such activities may differ from amounts initially recorded. Accordingly, the Company may record revisions of previous estimates by adjusting previously established accruals. The Company may take additional restructuring actions in future periods based upon market conditions and industry trends.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Nov. 02, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Note 14. Related Party Transactions The Company’s former Interim Chief Financial Officer, David Rawden, is a director of AlixPartners, LLP (“AlixPartners”), a business advisory firm that currently provides a number of consulting services to the Company. The Company’s former Interim Chief Executive Officer, Kevin Nystrom, is a partner and managing director of AlixPartners. In the three and six months ended November 2, 2024 , the Company recognized $ 5.4 million and $ 8.9 million, respectively, of expense for consulting services provided by AlixPartners. As of November 2, 2024 , $ 4.4 million was payable to AlixPartners, of which $ 3.2 million was reflected in other accrued liabilities and $ 1.2 million was reflected in accounts payable on the condensed consolidated balance sheets. As of April 27, 2024, $ 1.4 million was payable to AlixPartners which was reflected in other accrued liabilities on the condensed consolidated balance sheets.

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Nov. 02, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of presentation The unaudited condensed consolidated financial statements of the Company have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). All intercompany balances and transactions have been eliminated in consolidation. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) have been condensed or omitted pursuant to such rules and regulations. These interim condensed consolidated financial statements include all adjustments (consisting of normal recurring adjustments, except as otherwise disclosed) that management believes are necessary for a fair presentation of the results of operations, financial position and cash flows of the Company for the interim periods presented. These financial statements should be read in conjunction with the consolidated financial statements included in the Company’s Form 10-K for the year ended April 27, 2024, filed with the SEC on July 11, 2024. Results may vary from quarter to quarter for reasons other than seasonality.
Financial Reporting Periods	Financial reporting periods The Company’s fiscal year ends on the Saturday closest to April 30 of the following year, typically resulting in a 52-week year, but occasionally giving rise to an additional week, resulting in a 53-week year. The current fiscal year ending May 3, 2025 is a 53-week fiscal year, with the additional week being included in the current fiscal quarter. The three months ended November 2, 2024 and October 28, 2023 were 14 and 13 -week periods, respectively, while the six months ended November 2, 2024 and October 28, 2023 were 27 and 26 -week periods, respectively.
Use of Estimates	Use of estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and the accompanying notes. These estimates and assumptions are subject to an inherent degree of uncertainty and may change, as new events occur, and additional information is obtained. As a result, actual results may differ from previously estimated amounts, and such differences may be material to the condensed consolidated financial statements. Estimates and assumptions are reviewed periodically, and the effects of revisions are reflected in the period they occur.
Accounting pronouncements not yet adopted	Accounting pronouncements not yet adopted In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, “ Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, ” which requires entities to provide disclosures about their reportable segments’ significant expenses on an interim and annual basis. The updated standard is effective for the Company’s annual periods beginning in fiscal 2025 and interim periods beginning in the first quarter of fiscal 2026. Early adoption is permitted. The Company is currently evaluating the impact that the updated standard will have on its financial statement disclosures. In December 2023, the FASB issued ASU No. 2023-09, “ Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ” ASU No. 2023-09 requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. ASU No. 2023-09 will become effective for the Company in the first quarter of fiscal 2026 and will be applied on a prospective basis, with a retrospective option. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its financial statement disclosures. In November 2024, the FASB issued ASU 2024-03, “ Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures.” ASU 2024-03 requires public entities to disclose more detailed information about certain costs and expenses presented in the income statement, including inventory purchases, employee compensation, selling expenses and depreciation. ASU 2024-03 will become effective for the Company’s annual periods beginning in fiscal 2028. Early adoption is permitted. The Company is currently evaluating the impact of this ASU on its financial statement disclosures. There have been no other newly issued or newly applicable accounting pronouncements that have had, or are expected to have, a material impact on the Company’s condensed consolidated financial statements. Further, at November 2, 2024 , there are no other pronouncements pending adoption that are expected to have a material impact on the Company’s condensed consolidated financial statements.
Summary of Significant Accounting Policies	Summary of significant accounting policies The Company’s significant accounting policies are described in Note 1, “Description of Business and Summary of Significant Accounting Policies,” to the consolidated financial statements included in the Company’s Form 10-K for the year ended April 27, 2024. There have been no material changes to the significant accounting policies in the six months ended November 2, 2024 .
Foreign Currency Translation	Foreign currency translation. The functional currencies of the majority of the Company’s foreign subsidiaries are their local currencies. The results of operations of these foreign subsidiaries are translated into U.S. dollars using average monthly rates, while the assets and liabilities are translated using period-end exchange rates. The resulting translation adjustments are recorded as a component of accumulated other comprehensive income (loss) (“AOCI”). Gains and losses arising from transactions denominated in a currency other than the functional currency, except certain long-term intercompany transactions, are included in the condensed consolidated statements of operations in other expense, net. Net foreign exchange loss was $ 1.7 million in the three months ended November 2, 2024 , compared to net foreign exchange gain of $ 0.3 million in the three months ended October 28, 2023 . Net foreign exchange loss was $ 2.3 million in the six months ended November 2, 2024 , compared to net foreign exchange gain of $ 0.5 million in the six months ended October 28, 2023 .
Inventory	Inventories are stated at the lower-of-cost or net realizable value. Cost is determined using the first-in, first-out method. Finished products and work-in-process inventories include direct material costs and direct and indirect manufacturing costs. The Company records reserves for inventory that may be obsolete or in excess of current and future market demand.
Property, Plant and Equipment	Property, plant and equipment is stated at cost. Maintenance and repair costs are expensed as incurred. Depreciation is calculated using the straight-line method using estimated useful lives of 5 to 40 years for buildings and building improvements and 3 to 15 years for machinery and equipment.
Loss per Share	Basic loss per share is calculated by dividing net loss by the weighted average number of common shares outstanding for the applicable period, but excludes any contingently issued shares where the contingency has not been resolved. The weighted average number of common shares used in the diluted loss per share calculation is determined using the treasury stock method which includes the effect of all potential dilutive common shares outstanding during the period.
Contingencies	Certain litigation arising in the normal course of business is pending against us. The Company is, from time-to-time, subject to various legal actions and claims incidental to our business, including those arising out of alleged defects, breach of contracts, employment-related matters, environmental matters and intellectual property matters. The Company has established loss provisions for matters in which losses are deemed probable and reasonably estimable. The Company considers insurance coverage and third-party indemnification, among other things, when determining required accruals for pending litigation and claims. Although the outcome of potential legal actions and claims cannot be predicted with certainty, it is the Company's opinion, based on the information available, that it has adequate reserves for these liabilities. However, the ultimate outcome of any matter could require payment in excess of any amount that the Company may have accrued.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Nov. 02, 2024
Revenue from Contract with Customer [Abstract]
Disaggregated Revenue Information	The following table represents a disaggregation of revenue from contracts with customers by segment and geographical location. Net sales are attributed to regions based on the location of production. Though revenue recognition patterns and contracts are generally consistent, the amount, timing and uncertainty of revenue and cash flows may vary in each reportable segment due to geographic and economic factors. Three Months Ended November 2, 2024 (14 Weeks) (in millions) Automotive Industrial Interface Medical Total Geographic net sales: North America $ 69.7 $ 49.9 $ 15.7 $ — $ 135.3 Europe, the Middle East & Africa ("EMEA") 66.5 48.5 — — 115.0 Asia 9.3 33.0 — — 42.3 Total net sales $ 145.5 $ 131.4 $ 15.7 $ — $ 292.6 Timing of revenue recognition: Goods transferred at a point in time $ 143.2 $ 131.4 $ 15.7 $ — $ 290.3 Goods transferred over time 2.3 — — — 2.3 Total net sales $ 145.5 $ 131.4 $ 15.7 $ — $ 292.6 Three Months Ended October 28, 2023 (13 Weeks) (in millions) Automotive Industrial Interface Medical Total Geographic net sales: North America $ 70.9 $ 52.0 $ 11.7 $ 1.5 $ 136.1 EMEA 49.7 42.8 — — 92.5 Asia 33.7 25.6 — 0.1 59.4 Total net sales $ 154.3 $ 120.4 $ 11.7 $ 1.6 $ 288.0 Timing of revenue recognition: Goods transferred at a point in time $ 149.9 $ 120.4 $ 11.7 $ 1.6 $ 283.6 Goods transferred over time 4.4 — — — 4.4 Total net sales $ 154.3 $ 120.4 $ 11.7 $ 1.6 $ 288.0 Six Months Ended November 2, 2024 (27 Weeks) (in millions) Automotive Industrial Interface Medical Total Geographic net sales: North America $ 136.0 $ 95.2 $ 27.9 $ — $ 259.1 EMEA 125.8 88.1 — — 213.9 Asia 18.5 59.6 — — 78.1 Total net sales $ 280.3 $ 242.9 $ 27.9 $ — $ 551.1 Timing of revenue recognition: Goods transferred at a point in time $ 275.4 $ 242.9 $ 27.9 $ — $ 546.2 Goods transferred over time 4.9 — — — 4.9 Total net sales $ 280.3 $ 242.9 $ 27.9 $ — $ 551.1 Six Months Ended October 28, 2023 (26 Weeks) (in millions) Automotive Industrial Interface Medical Total Geographic net sales: North America $ 137.7 $ 92.0 $ 26.9 $ 2.3 $ 258.9 EMEA 101.9 93.9 — — 195.8 Asia 73.0 49.9 — 0.1 123.0 Total net sales $ 312.6 $ 235.8 $ 26.9 $ 2.4 $ 577.7 Timing of revenue recognition: Goods transferred at a point in time $ 304.1 $ 235.8 $ 26.9 $ 2.4 $ 569.2 Goods transferred over time 8.5 — — — 8.5 Total net sales $ 312.6 $ 235.8 $ 26.9 $ 2.4 $ 577.7

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Nov. 02, 2024
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense And Effective Tax Rate	The Company’s income tax expense and effective tax rate for the three and six months ended November 2, 2024 and October 28, 2023 were as follows: Three Months Ended Six Months Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 ($ in millions) (14 Weeks) (13 Weeks) (27 Weeks) (26 Weeks) Pre-tax income (loss) $ 1.6 $ ( 55.5 ) $ ( 11.5 ) $ ( 54.5 ) Income tax expense (benefit) 3.2 $ ( 0.2 ) 8.4 $ ( 0.1 ) Effective tax rate 200.0 % 0.4 % ( 73.0 )% 0.2 %

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Nov. 02, 2024
Balance Sheet Components [Abstract]
Summary of Inventories	A summary of inventories is shown below: (in millions) November 2, 2024 April 27, 2024 Finished products $ 53.2 $ 45.6 Work in process 21.0 16.1 Raw materials 154.0 124.5 Total inventories $ 228.2 $ 186.2
Summary of Property, Plant and Equipment	A summary of property, plant and equipment is shown below: (in millions) November 2, 2024 April 27, 2024 Land $ 3.3 $ 3.3 Buildings and building improvements 99.4 98.5 Machinery and equipment 401.4 394.6 Construction in progress 54.4 50.4 Total property, plant and equipment, gross 558.5 546.8 Less: accumulated depreciation ( 341.3 ) ( 334.7 ) Property, plant and equipment, net $ 217.2 $ 212.1

Goodwill and Other Intangible_2

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 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 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

Derivative Instruments and He_2

Derivative Instruments and Hedging Activities (Tables)	6 Months Ended
	Nov. 02, 2024
Text Block [Abstract]
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 Six Months Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 (in millions) (14 Weeks) (13 Weeks) (27 Weeks) (26 Weeks) Net investment hedges $ 0.1 $ 1.1 $ ( 0.8 ) $ 1.2 Interest rate swaps ( 1.4 ) ( 0.4 ) ( 2.7 ) ( 2.7 ) Total $ ( 1.3 ) $ 0.7 $ ( 3.5 ) $ ( 1.5 )
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 November 2, 2024 April 27, 2024 Derivatives designated as hedging instruments: Net investment hedges Prepaid expenses and other current assets $ 0.5 $ 1.3 Interest rate swaps Other long-term liabilities $ ( 4.8 ) $ ( 2.1 ) Derivatives not designated as hedging instruments: Foreign currency forward contracts Other accrued liabilities $ ( 0.3 ) $ ( 0.2 )

Debt (Tables)

Debt (Tables)	6 Months Ended
	Nov. 02, 2024
Debt Disclosure [Abstract]
Summary of Debt	A summary of debt is shown below: (in millions) November 2, 2024 April 27, 2024 Revolving credit facility $ 342.9 $ 333.0 Other debt 1.4 1.5 Unamortized debt issuance costs ( 3.7 ) ( 3.6 ) Total debt 340.6 330.9 Less: current maturities ( 0.2 ) ( 0.2 ) Total long-term debt $ 340.4 $ 330.7

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Nov. 02, 2024
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Activity under 2021 Buyback Program	The following table summarizes activity under the 2021 Buyback Authorization: Three Months Ended Six Months Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 (in millions, except share and per share data) (14 Weeks) (13 Weeks) (27 Weeks) (26 Weeks) Shares purchased — 322,779 136,000 322,779 Average price per share $ — $ 24.03 $ 11.55 $ 24.03 Total cost $ — $ 7.8 $ 1.6 $ 7.8
Summary of Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax	A summary of changes in AOCI, net of tax is shown below: Three Months Ended November 2, 2024 (14 Weeks) Six Months Ended November 2, 2024 (27 Weeks) (in millions) Currency translation adjustments Derivative instruments Total Currency translation adjustments Derivative instruments Total Balance at beginning of period $ ( 34.4 ) $ ( 1.9 ) $ ( 36.3 ) $ ( 36.5 ) $ ( 0.2 ) $ ( 36.7 ) Other comprehensive income (loss) ( 0.4 ) ( 1.3 ) ( 1.7 ) 0.7 ( 3.5 ) ( 2.8 ) Tax expense (benefit) ( 0.1 ) 0.4 0.3 0.9 0.9 1.8 Net other comprehensive income (loss) ( 0.5 ) ( 0.9 ) ( 1.4 ) 1.6 ( 2.6 ) ( 1.0 ) Balance at the end of period $ ( 34.9 ) $ ( 2.8 ) $ ( 37.7 ) $ ( 34.9 ) $ ( 2.8 ) $ ( 37.7 ) Three Months Ended October 28, 2023 (13 Weeks) Six Months Ended October 28, 2023 (26 Weeks) (in millions) Currency translation adjustments Derivative instruments Total Currency translation adjustments Derivative instruments Total Balance at beginning of period $ ( 22.3 ) $ ( 0.8 ) $ ( 23.1 ) $ ( 19.8 ) $ 0.8 $ ( 19.0 ) Other comprehensive income (loss) ( 17.6 ) 0.7 ( 16.9 ) ( 20.3 ) ( 1.5 ) ( 21.8 ) Tax expense (benefit) ( 2.6 ) ( 0.3 ) ( 2.9 ) ( 2.4 ) 0.3 ( 2.1 ) Net other comprehensive income (loss) ( 20.2 ) 0.4 ( 19.8 ) ( 22.7 ) ( 1.2 ) ( 23.9 ) Balance at the end of period $ ( 42.5 ) $ ( 0.4 ) $ ( 42.9 ) $ ( 42.5 ) $ ( 0.4 ) $ ( 42.9 )
Summary of RSA and RSU Activity	The following table summarizes RSA activity: Restricted Weighted Non-vested at April 27, 2024 789,674 $ 28.81 Awarded — $ — Vested — $ — Forfeited ( 79,325 ) $ 28.28 Non-vested at November 2, 2024 710,349 $ 28.87 The following table summarizes RSU activity: Restricted Weighted Non-vested at April 27, 2024 941,640 $ 26.43 Awarded 267,833 $ 12.25 Conversion of cash bonus to RSUs 160,401 $ 12.87 Vested ( 395,412 ) $ 28.30 Forfeited ( 182,596 ) $ 22.72 Non-vested at November 2, 2024 791,866 $ 18.81
Summary of the Weighted-Average Assumptions for the PSUs Granted	The following table provides a summary of the weighted-average assumptions for the PSUs granted: Assumptions Expected volatility 52.01 % Risk free interest rate 4.07 % Expected term (in years) 2.74 Grant date fair value $ 14.91
Summary of PSU Activity	The following table summarizes PSU activity: Performance Weighted Non-vested at April 27, 2024 — $ — Awarded 192,779 $ 14.91 Vested — $ — Forfeited — $ — Non-vested at November 2, 2024 192,779 $ 14.91
Summary of Awards Granted to Non-employee Directors	The following table summarizes awards granted to non-employee directors: Non-employee director awards Deferred non-employee director awards Total Weighted Outstanding at April 27, 2024 — 77,319 77,319 $ 37.23 Awarded 56,680 86,786 143,466 $ 9.92 Issued ( 56,680 ) ( 23,756 ) ( 80,436 ) $ 10.49 Outstanding at November 2, 2024 — 140,349 140,349 $ 22.80
Summary of combined stock option activity and related information for stock options granted	The following table summarizes stock option activity: Stock Weighted average exercise price Weighted- Aggregate Outstanding and exercisable at April 27, 2024 8,000 $ 37.01 0.2 $ 0.0 Exercised — $ — Forfeited ( 8,000 ) $ 37.01 Outstanding and exercisable at November 2, 2024 — $ — 0.0 $ 0.0
Summary of Stock-based Compensation Expense Related to Equity Awards	The table below summarizes the stock-based compensation expense related to the equity awards: Three Months Ended Six Months Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 (in millions) (14 Weeks) (13 Weeks) (27 Weeks) (26 Weeks) RSUs $ 1.3 $ 1.3 $ 2.0 $ 2.3 PSUs 0.2 — 0.2 — Deferred non-employee director awards — — 0.9 1.0 Non-employee director awards — — 0.6 0.6 Total stock-based compensation expense $ 1.5 $ 1.3 $ 3.7 $ 3.9

Loss per Share (Tables)

Loss per Share (Tables)	6 Months Ended
	Nov. 02, 2024
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Loss Per Share	The following table sets forth the computation of basic and diluted loss per share: Three Months Ended Six Months Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 (14 Weeks) (13 Weeks) (27 Weeks) (26 Weeks) Numerator: Net loss (in millions) $ ( 1.6 ) $ ( 55.3 ) $ ( 19.9 ) $ ( 54.4 ) Denominator: Denominator for basic loss per share - weighted average shares outstanding and vested/unissued restricted stock units 35,494,664 35,671,677 35,460,586 35,679,776 Dilutive potential common shares — — — — Denominator for diluted loss per share 35,494,664 35,671,677 35,460,586 35,679,776 Loss per share: Basic $ ( 0.05 ) $ ( 1.55 ) $ ( 0.56 ) $ ( 1.52 ) Diluted $ ( 0.05 ) $ ( 1.55 ) $ ( 0.56 ) $ ( 1.52 ) Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding 1,220,031 1,543,183 1,112,511 1,536,206

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Nov. 02, 2024
Segment Reporting [Abstract]
Schedule of Reportable Segments	The tables below present information about the Company’s reportable segments: Three Months Ended November 2, 2024 (14 Weeks) (in millions) Automotive Industrial Interface Medical Eliminations/ Consolidated Net sales $ 148.1 $ 139.4 $ 15.7 $ — $ ( 10.6 ) $ 292.6 Transfers between segments ( 2.6 ) ( 8.0 ) — — 10.6 — Net sales to unaffiliated customers $ 145.5 $ 131.4 $ 15.7 $ — $ — $ 292.6 Income (loss) from operations $ 0.7 $ 24.3 $ 4.7 $ — $ ( 20.3 ) $ 9.4 Interest expense, net 6.2 Other expense, net 1.6 Pre-tax income $ 1.6 Three Months Ended October 28, 2023 (13 Weeks) (in millions) Automotive Industrial Interface Medical Eliminations Consolidated Net sales $ 158.0 $ 128.0 $ 11.7 $ 1.6 $ ( 11.3 ) $ 288.0 Transfers between segments ( 3.7 ) ( 7.6 ) — — 11.3 — Net sales to unaffiliated customers $ 154.3 $ 120.4 $ 11.7 $ 1.6 $ — $ 288.0 Income (loss) from operations $ ( 61.5 ) $ 25.7 $ 1.0 $ ( 0.7 ) $ ( 15.8 ) $ ( 51.3 ) Interest expense, net 4.4 Other expense, net ( 0.2 ) Pre-tax loss $ ( 55.5 ) Goodwill impairment $ 56.5 $ — $ — $ — $ — $ 56.5 Six Months Ended November 2, 2024 (27 Weeks) (in millions) Automotive Industrial Interface Medical Eliminations/ Consolidated Net sales $ 284.8 $ 256.5 $ 27.9 $ — $ ( 18.1 ) $ 551.1 Transfers between segments ( 4.5 ) ( 13.6 ) — — 18.1 — Net sales to unaffiliated customers $ 280.3 $ 242.9 $ 27.9 $ — $ — $ 551.1 Income (loss) from operations $ ( 5.0 ) $ 41.2 $ 6.6 $ — $ ( 40.9 ) $ 1.9 Interest expense, net 11.0 Other expense, net 2.4 Pre-tax loss $ ( 11.5 ) Six Months Ended October 28, 2023 (26 Weeks) (in millions) Automotive Industrial Interface Medical Eliminations Consolidated Net sales $ 319.1 $ 250.6 $ 27.0 $ 2.4 $ ( 21.4 ) $ 577.7 Transfers between segments ( 6.5 ) ( 14.8 ) ( 0.1 ) — 21.4 — Net sales to unaffiliated customers $ 312.6 $ 235.8 $ 26.9 $ 2.4 $ — $ 577.7 Income (loss) from operations $ ( 64.3 ) $ 49.9 $ 3.9 $ ( 2.9 ) $ ( 34.1 ) $ ( 47.5 ) Interest expense, net 7.2 Other income, net ( 0.2 ) Pre-tax loss $ ( 54.5 ) Goodwill impairment $ 56.5 $ — $ — $ — $ — $ 56.5 (in millions) November 2, 2024 April 27, 2024 Identifiable assets: Automotive $ 617.7 $ 592.7 Industrial 608.8 604.5 Interface 71.4 67.1 Medical 0.2 0.2 Eliminations/Corporate 77.0 139.0 Total identifiable assets $ 1,375.1 $ 1,403.5

Restructuring and Asset Impai_2

Restructuring and Asset Impairment Charges (Tables)	6 Months Ended
	Nov. 02, 2024
Restructuring and Related Activities [Abstract]
Schedule of Components of Restructuring and Asset Impairment Charges	Components of restructuring and asset impairment charges were as follows: Three Months Ended Six Months Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 (in millions) (14 Weeks) (13 Weeks) (27 Weeks) (26 Weeks) Employee termination benefits $ — $ 0.6 $ 0.3 $ 0.7 Asset impairment charges 0.1 — 0.4 0.6 Total $ 0.1 $ 0.6 $ 0.7 $ 1.3
Schedule of Restructuring and Asset Impairment Charges by Reportable Segment	The table below presents restructuring and asset impairment charges by reportable segment. Three Months Ended Six Months Ended November 2, 2024 October 28, 2023 November 2, 2024 October 28, 2023 (in millions) (14 Weeks) (13 Weeks) (27 Weeks) (26 Weeks) Automotive $ — $ 0.2 $ 0.3 $ 0.2 Industrial 0.1 — 0.1 — Interface — — — — Medical — 0.4 — 1.1 Eliminations/Corporate — — 0.3 — Total $ 0.1 $ 0.6 $ 0.7 $ 1.3 Recognized in: Cost of products sold $ 0.1 $ 0.2 $ 0.4 $ 0.8 Selling and administrative expenses — 0.4 0.3 0.5 $ 0.1 $ 0.6 $ 0.7 $ 1.3

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Fiscal period duration	98 days	91 days	189 days	182 days
Net foreign exchange gains (losses)	$ (1.7)	$ 0.3	$ (2.3)	$ 0.5

Revenue (Details)

Revenue (Details)	6 Months Ended
	Nov. 02, 2024
Minimum
Accounts Receivable and Allowance for Doubtful Accounts [Line Items]
Accounts receivable collection terms	30 days
Maximum
Accounts Receivable and Allowance for Doubtful Accounts [Line Items]
Accounts receivable collection terms	45 days

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Disaggregation of Revenue [Line Items]
Net sales	$ 292.6	$ 288	$ 551.1	$ 577.7
Automotive
Disaggregation of Revenue [Line Items]
Net sales	145.5	154.3	280.3	312.6
Industrial
Disaggregation of Revenue [Line Items]
Net sales	131.4	120.4	242.9	235.8
Interface
Disaggregation of Revenue [Line Items]
Net sales	15.7	11.7	27.9	26.9
Medical
Disaggregation of Revenue [Line Items]
Net sales	0	1.6	0	2.4
Goods Transferred at a Point in Time
Disaggregation of Revenue [Line Items]
Net sales	290.3	283.6	546.2	569.2
Goods Transferred at a Point in Time | Automotive
Disaggregation of Revenue [Line Items]
Net sales	143.2	149.9	275.4	304.1
Goods Transferred at a Point in Time | Industrial
Disaggregation of Revenue [Line Items]
Net sales	131.4	120.4	242.9	235.8
Goods Transferred at a Point in Time | Interface
Disaggregation of Revenue [Line Items]
Net sales	15.7	11.7	27.9	26.9
Goods Transferred at a Point in Time | Medical
Disaggregation of Revenue [Line Items]
Net sales		1.6		2.4
Goods Transferred Over Time
Disaggregation of Revenue [Line Items]
Net sales	2.3	4.4	4.9	8.5
Goods Transferred Over Time | Automotive
Disaggregation of Revenue [Line Items]
Net sales	2.3	4.4	4.9	8.5
North America
Disaggregation of Revenue [Line Items]
Net sales	135.3	136.1	259.1	258.9
North America | Automotive
Disaggregation of Revenue [Line Items]
Net sales	69.7	70.9	136	137.7
North America | Industrial
Disaggregation of Revenue [Line Items]
Net sales	49.9	52	95.2	92
North America | Interface
Disaggregation of Revenue [Line Items]
Net sales	15.7	11.7	27.9	26.9
North America | Medical
Disaggregation of Revenue [Line Items]
Net sales		1.5		2.3
EMEA
Disaggregation of Revenue [Line Items]
Net sales	115	92.5	213.9	195.8
EMEA | Automotive
Disaggregation of Revenue [Line Items]
Net sales	66.5	49.7	125.8	101.9
EMEA | Industrial
Disaggregation of Revenue [Line Items]
Net sales	48.5	42.8	88.1	93.9
Asia
Disaggregation of Revenue [Line Items]
Net sales	42.3	59.4	78.1	123
Asia | Automotive
Disaggregation of Revenue [Line Items]
Net sales	9.3	33.7	18.5	73
Asia | Industrial
Disaggregation of Revenue [Line Items]
Net sales	$ 33	25.6	$ 59.6	49.9
Asia | Medical
Disaggregation of Revenue [Line Items]
Net sales		$ 0.1		$ 0.1

Disposition - Narrative (Detail

Disposition - Narrative (Details) - Dabir Business $ in Millions	12 Months Ended
	Apr. 27, 2024 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration from sale of business	$ 1.5
Loss on the sale of business, including transaction costs	$ (0.6)

Income Taxes - Schedule of Inco

Income Taxes - Schedule of Income before Income Taxes, Income Tax Expense and Effective Income Tax Rate (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Income Tax Disclosure [Abstract]
Pre-tax income (loss)	$ 1.6	$ (55.5)	$ (11.5)	$ (54.5)
Income tax expense (benefit)	$ 3.2	$ (0.2)	$ 8.4	$ (0.1)
Effective tax rate	200%	0.40%	(73.00%)	0.20%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023	Apr. 27, 2024
Income Tax Disclosure [Abstract]
Income tax at statutory rate	21%	21%	21%	21%
Valuation allowance	$ 7.5		$ 7.5
Global minimum tax, threshold percentage	15%
Gross unrecognized income tax benefits	$ 4.5		4.5		$ 4.4
Income tax penalties and interest accrued	$ 0.5		$ 0.5		$ 0.4

Balance Sheet Components - Cash

Balance Sheet Components - Cash and Cash Equivalents - Narrative (Details) - USD ($) $ in Millions	Nov. 02, 2024	Apr. 27, 2024
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	$ 97	$ 161.5
Money Market Accounts
Cash And Cash Equivalents [Line Items]
Cash and cash equivalents	$ 0.2	$ 73.2

Balance Sheet Components - Acco

Balance Sheet Components - Accounts Receivable and Allowance for Doubtful Accounts - Narrative (Details) - USD ($) $ in Millions	Nov. 02, 2024	Apr. 27, 2024
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Allowance for doubtful accounts receivable	$ 2.6	$ 1.4

Balance Sheet Components - Summ

Balance Sheet Components - Summary of Inventories (Details) - USD ($) $ in Millions	Nov. 02, 2024	Apr. 27, 2024
Inventory, Net, Items Net of Reserve Alternative [Abstract]
Finished products	$ 53.2	$ 45.6
Work in process	21	16.1
Raw materials	154	124.5
Total inventories	$ 228.2	$ 186.2

Balance Sheet Components - Asse

Balance Sheet Components - Assets held for sale - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023
Balance Sheet Components [Abstract]
Non-core real estate assets, aggregate carrying value	$ 2
Gain on sale of assets	$ 0.3	$ (0.5)

Balance Sheet Components - Prop

Balance Sheet Components - Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023	Apr. 27, 2024
Property Plant And Equipment [Line Items]
Depreciation	$ 8.4	$ 8.2	$ 16.6	$ 16.5
Capital expenditures recorded in accounts payable			$ 4.5		$ 6.1
Minimum | Buildings and Building Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life	5 years		5 years
Minimum | Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life	3 years		3 years
Maximum | Buildings and Building Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life	40 years		40 years
Maximum | Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life	15 years		15 years

Balance Sheet Components - Pr_2

Balance Sheet Components - Property, Plant and Equipment (Details) - USD ($) $ in Millions	Nov. 02, 2024	Apr. 27, 2024
Property Plant And Equipment [Line Items]
Total property, plant and equipment, gross	$ 558.5	$ 546.8
Less: accumulated depreciation	(341.3)	(334.7)
Property, plant and equipment, net	217.2	212.1
Land
Property Plant And Equipment [Line Items]
Total property, plant and equipment, gross	3.3	3.3
Buildings and Building Improvements
Property Plant And Equipment [Line Items]
Total property, plant and equipment, gross	99.4	98.5
Machinery and Equipment
Property Plant And Equipment [Line Items]
Total property, plant and equipment, gross	401.4	394.6
Construction In Progress
Property Plant And Equipment [Line Items]
Total property, plant and equipment, gross	$ 54.4	$ 50.4

Balance Sheet Components - Pre-

Balance Sheet Components - Pre-production Tooling Costs Related to Long-term Supply Arrangements - Narrative (Details) - USD ($) $ in Millions	Nov. 02, 2024	Apr. 27, 2024
Preproduction Tooling Costs Relatedto Longterm Supply Arrangements [Abstract]
Pre-production costs	$ 43.8	$ 44.1
Preproduction costs related to long-term supply arrangements, asset for molds dies and tools owned	$ 13.1	$ 14

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Summary of the Changes in the Carrying Amount of Goodwill by Segment (Details) $ in Millions	6 Months Ended
	Nov. 02, 2024 USD ($)
Goodwill [Line Items]
Beginning balance	$ 169.9
Foreign currency translation	0.5
Ending balance	$ 170.4

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Summary of Goodwill by Reporting Unit (Details) - USD ($) $ in Millions	Nov. 02, 2024	Apr. 27, 2024
Goodwill [Line Items]
Goodwill	$ 170.4	$ 169.9
Grakon Industrial
Goodwill [Line Items]
Goodwill	124.2	124.4
Nordic Lights
Goodwill [Line Items]
Goodwill	44.5	43.9
Other
Goodwill [Line Items]
Goodwill	$ 1.7	$ 1.6

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Narrative (Details) $ in Millions	3 Months Ended	6 Months Ended
	Oct. 28, 2023 USD ($) ReportingUnit	Oct. 28, 2023 USD ($)
Goodwill [Line Items]
Goodwill impairment	$ 56.5	$ 56.5
Automotive
Goodwill [Line Items]
Goodwill impairment	$ 56.5	$ 56.5
Number of reporting units | ReportingUnit	2

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Schedule of Other Intangible Assets, Net (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Nov. 02, 2024	Apr. 27, 2024
Finite-lived Intangible Assets [Roll Forward]
Gross	$ 383.1	$ 381.9
Accumulated Amortization	(138.9)	(127)
Net/Total	244.2	254.9
Other intangible assets, gross	384.9	383.7
Other intangible assets, accumulated amortization	(138.9)	(127)
Other intangible assets, net	246	256.7
Unamortized Trade Name
Finite-lived Intangible Assets [Roll Forward]
Gross	1.8	1.8
Net	1.8	1.8
Customer Relationships and Agreements
Finite-lived Intangible Assets [Roll Forward]
Gross	307.6	306.6
Accumulated Amortization	(93.2)	(84.7)
Net/Total	$ 214.4	$ 221.9
Weighted average remaining useful life (years)	14 years 4 months 24 days	14 years 9 months 18 days
Trade Names, Patents and Technology Licenses
Finite-lived Intangible Assets [Roll Forward]
Gross	$ 75.5	$ 75.3
Accumulated Amortization	(45.7)	(42.3)
Net/Total	$ 29.8	$ 33
Weighted average remaining useful life (years)	6 years 7 months 6 days	6 years 10 months 24 days

Goodwill and Other Intangible_7

Goodwill and Other Intangible Assets - Schedule of Estimated Aggregate Amortization Expense of Intangible Assets (Details) - USD ($) $ in Millions	Nov. 02, 2024	Apr. 27, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Remainder of 2025	$ 11.7
2026	22.6
2027	21.9
2028	19.7
2029	18.4
Thereafter	149.9
Net/Total	$ 244.2	$ 254.9

Derivative Instruments and He_3

Derivative Instruments and Hedging Activities - Narrative Information (Details) € in Millions, $ in Millions	3 Months Ended		6 Months Ended		18 Months Ended
	Nov. 02, 2024 USD ($)	Oct. 28, 2023 USD ($)	Nov. 02, 2024 USD ($)	Oct. 28, 2023 USD ($)	Oct. 28, 2024 USD ($)	Nov. 02, 2024 EUR (€)	Apr. 27, 2024 USD ($)
Derivatives, Fair Value [Line Items]
Gains on derivative	$ 0.3	$ 0.4	$ 0.5	$ 1.1
Euro-denominated long-term borrowings under amended credit agreement as net investment hedge	297.9		297.9				$ 294
Euro-denominated long-term borrowings designated as a net investment hedge, gains (losses), net of tax	0.4	7.5	3		$ (7.3)
Cumulative gains associated with net investment hedge reported in AOCI	1.2		$ 1.2				4.2
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Derivative, maturity date			Oct. 31, 2027
Derivative, notional amount	143.1		$ 143.1			€ 132
Foreign Exchange Forward
Derivatives, Fair Value [Line Items]
Derivative, notional amount	128		128				$ 110.9
Gain (loss) on foreign currency derivatives recorded in earnings, net	0.5	$ 0.8	$ 0.5	$ 2.7
Cross-Currency Swap | Fixed Rate | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Derivative, maturity date			Dec. 25, 2024
Derivative, notional amount	$ 60		$ 60			€ 54.8

Derivative Instruments and He_4

Derivative Instruments and Hedging Activities - Schedule of Derivative Instruments Effect on Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts recorded in other comprehensive income (loss) Net	$ (1.3)	$ 0.7	$ (3.5)	$ (1.5)
Net Investment Hedges
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts recorded in other comprehensive income (loss) Net	0.1	1.1	(0.8)	1.2
Interest Rate Swap
Derivative Instruments, Gain (Loss) [Line Items]
Gross amounts recorded in other comprehensive income (loss) Net	$ (1.4)	$ (0.4)	$ (2.7)	$ (2.7)

Derivative Instruments and He_5

Derivative Instruments and Hedging Activities - Schedule of Fair Value of Derivative Instruments Classified as Level 2 Within Fair Value Recorded in the Condensed Consolidated Balance Sheet (Details) - Level 2 - USD ($) $ in Millions	Nov. 02, 2024	Apr. 27, 2024
Derivatives Designated as Hedging Instruments | Net Investment Hedges | Prepaid Expenses and Other Current Assets
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of derivative instruments assets (liabilities) net	$ 0.5	$ 1.3
Derivatives Designated as Hedging Instruments | Interest Rate Swap | Other Long-term Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of derivative instruments assets (liabilities) net	(4.8)	(2.1)
Derivatives Not Designated as Hedging Instruments | Foreign Exchange Forward | Other Accrued Liabilities
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of derivative instruments assets (liabilities) net	$ (0.3)	$ (0.2)

Debt - Summary of Debt (Details

Debt - Summary of Debt (Details) - USD ($) $ in Millions	Nov. 02, 2024	Apr. 27, 2024
Debt Instrument [Line Items]
Unamortized debt issuance costs	$ (3.7)	$ (3.6)
Total debt	340.6	330.9
Less: current maturities	(0.2)	(0.2)
Long-term debt	340.4	330.7
Revolving Credit Facility
Debt Instrument [Line Items]
Debt	342.9	333
Other Debt
Debt Instrument [Line Items]
Debt	1.4	$ 1.5
Less: current maturities	$ (0.2)

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility/Term Loan (Details) € in Millions, $ in Millions			6 Months Ended
	Jul. 09, 2024 USD ($)	Oct. 31, 2022 USD ($)	Nov. 02, 2024 USD ($)	Nov. 02, 2024 EUR (€)	Jul. 08, 2024 USD ($)
Debt Instrument [Line Items]
Partial write-off of unamortized debt issuance costs			$ 1.2
Debt issuance costs			1.8
Revolving Credit Facility | Nordic Lights
Debt Instrument [Line Items]
Euro-denominated outstanding borrowings under revolving credit facility			$ 297.9
Revolving Credit Facility | Euro denominated borrowings
Debt Instrument [Line Items]
Interest rate (as a percent)			6.30%	6.30%
Revolving Credit Facility | Euro denominated borrowings | Nordic Lights
Debt Instrument [Line Items]
Euro-denominated outstanding borrowings under revolving credit facility | €				€ 275
Revolving Credit Facility | US dollar borrowings
Debt Instrument [Line Items]
Interest rate (as a percent)			7.90%	7.90%
Revolving Credit Facility | US dollar borrowings | Nordic Lights
Debt Instrument [Line Items]
Euro-denominated outstanding borrowings under revolving credit facility			$ 45
Line of credit | Bank of America, N.A., and Wells Fargo Bank, N.A. [Member] | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 750				$ 500
Consolidated leverage ratio	3
Cash on hand	$ 65
Line of credit | Bank of America, N.A., and Wells Fargo Bank, N.A. [Member] | Revolving Credit Facility | U.S. Subsidiaries
Debt Instrument [Line Items]
Percentage of stock of subsidiaries to grant a security interest	100%
Line of credit | Bank of America, N.A., and Wells Fargo Bank, N.A. [Member] | Revolving Credit Facility | Foreign Subsidiaries
Debt Instrument [Line Items]
Percentage of stock of subsidiaries to grant a security interest	65%
Line of credit | Bank of America, N.A., and Wells Fargo Bank, N.A. [Member] | Secured Multicurrency Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 500
Line of credit | Bank of America, N.A. | Revolving Credit Facility
Debt Instrument [Line Items]
Leverage ratio on pro forma basis		3
Credit agreement termination date		Oct. 31, 2027
Partial write-off of unamortized debt issuance costs			1.2
Debt issuance costs			$ 1.8
Line of credit | Bank of America, N.A. | Revolving Credit Facility | Base Rate | Maximum
Debt Instrument [Line Items]
Adjusted interest rate	1.75%
Line of credit | Bank of America, N.A. | Revolving Credit Facility | Base Rate | Minimum
Debt Instrument [Line Items]
Adjusted interest rate	0.375%
Line of credit | Bank of America, N.A. | Revolving Credit Facility | SOFR Daily Floating Rate Loans | Maximum
Debt Instrument [Line Items]
Adjusted interest rate	2.75%
Line of credit | Bank of America, N.A. | Revolving Credit Facility | SOFR Daily Floating Rate Loans | Minimum
Debt Instrument [Line Items]
Adjusted interest rate	1.375%
Line of credit | Bank of America, N.A. | Revolving Credit Facility | Euro Interbank Offered Rate Plus | Maximum
Debt Instrument [Line Items]
Adjusted interest rate	2.75%
Line of credit | Bank of America, N.A. | Revolving Credit Facility | Euro Interbank Offered Rate Plus | Minimum
Debt Instrument [Line Items]
Adjusted interest rate	1.375%
Term loan | Bank of America, N.A. | Revolving Credit Facility
Debt Instrument [Line Items]
Increase in revolving commitments		$ 250

Debt - Other Debt (Details)

Debt - Other Debt (Details) $ in Millions	6 Months Ended
	Nov. 02, 2024 USD ($) Note	Apr. 27, 2024 USD ($)
Debt Instrument [Line Items]
Number of notes | Note	1
Debt, short-term	$ 0.2	$ 0.2
Other Debt
Debt Instrument [Line Items]
Weighted-average interest rate (as a percent)	1.80%
Debt, short-term	$ 0.2

Shareholders' Equity - Share Re

Shareholders' Equity - Share Repurchase Program (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		43 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Jun. 13, 2024	Jun. 16, 2022
Equity Class Of Treasury Stock [Line Items]
Shares purchased	0	322,779	136,000	322,779
2021 Buyback Program
Equity Class Of Treasury Stock [Line Items]
Shares purchased	0		136,000		3,553,961
Stock repurchase cost					$ 134.6
2024 Buyback Program
Equity Class Of Treasury Stock [Line Items]
Shares purchased			0
Remaining authorized repurchase amount	$ 200		$ 200		$ 200
Maximum | 2021 Buyback Program
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, Authorized amount							$ 200
Maximum | 2024 Buyback Program
Equity Class Of Treasury Stock [Line Items]
Stock repurchase program, Authorized amount						$ 200

Shareholders' Equity - Summary

Shareholders' Equity - Summary of Activity under 2021 Buyback Program (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Share-Based Payment Arrangement [Abstract]
Shares purchased	0	322,779	136,000	322,779
Average price per share	$ 0	$ 24.03	$ 11.55	$ 24.03
Total cost	$ 0	$ 7.8	$ 1.6	$ 7.8

Shareholders' Equity - Dividend

Shareholders' Equity - Dividends (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cash dividends	$ 4.9	$ 4.8	$ 10	$ 10.1
RSAs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cash dividends			$ 0.2	$ 0.4

Shareholders' Equity - Summar_2

Shareholders' Equity - Summary of Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	$ 744.4	$ 931.4	$ 766	$ 941.8
Other comprehensive income (loss)	(1.7)	(16.9)	(2.8)	(21.8)
Tax expense (benefit)	0.3	(2.9)	1.8	(2.1)
Other comprehensive loss	(1.4)	(19.8)	(1)	(23.9)
Ending balance	738.3	844.9	738.3	844.9
Currency Translation Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(34.4)	(22.3)	(36.5)	(19.8)
Other comprehensive income (loss)	(0.4)	(17.6)	0.7	(20.3)
Tax expense (benefit)	(0.1)	(2.6)	0.9	(2.4)
Other comprehensive loss	(0.5)	(20.2)	1.6	(22.7)
Ending balance	(34.9)	(42.5)	(34.9)	(42.5)
Derivative Instruments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(1.9)	(0.8)	(0.2)	0.8
Other comprehensive income (loss)	(1.3)	0.7	(3.5)	(1.5)
Tax expense (benefit)	0.4	(0.3)	0.9	0.3
Other comprehensive loss	(0.9)	0.4	(2.6)	(1.2)
Ending balance	(2.8)	(0.4)	(2.8)	(0.4)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(36.3)	(23.1)	(36.7)	(19)
Other comprehensive loss	(1.4)	(19.8)	(1)	(23.9)
Ending balance	$ (37.7)	$ (42.9)	$ (37.7)	$ (42.9)

Shareholders' Equity - General

Shareholders' Equity - General (Details) - 2022 Incentive Plan - shares	6 Months Ended
	Nov. 02, 2024	Sep. 14, 2022
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares available for award (in shares)	3,800,000	5,550,000
Stock-based compensation, description	the number of shares of the Company's common stock that will be available for all awards under the 2022 Plan is 5,550,000, less an amount to reflect shares, options or other awards granted under prior plans after April 30, 2022. As of November 2, 2024, there were approximately 3.8 million shares available for award under the 2022 Plan.

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($)	6 Months Ended
	Nov. 02, 2024	Nov. 05, 2024
RSAs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares granted in period (in shares)	710,349
Additional stock issuable, shares	355,175
Unrecognized stock-based compensation cost	$ 20,500,000
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Deferred RSU's	793,108
Shares granted	267,833
Shares awarded in exchange for cash bonuses	160,401
Employee related liabilities current reclassified	$ 2,100,000
Additional incremental expense to be recognized	0
RSUs | Subsequent Event
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Deferred RSU's		707,555
PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation cost	$ 2,600,000
Weighted average period expected for recognition	3 years
Vesting period	3 years
Shares granted	192,779
Minimum | RSAs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	0%
Minimum | PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares to be issued, percentage	0%
Maximum | RSAs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting percentage	100%
Maximum | RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vesting period	5 years
Maximum | PSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares to be issued, percentage	200%

Shareholders' Equity - Summar_3

Shareholders' Equity - Summary of Restricted Stock Awards and Restricted Stock Units Activity (Details)	6 Months Ended
	Nov. 02, 2024 $ / shares shares
RSAs | Management | 2020 EBITDA Maximum Performance
Shares
Non-vested Outstanding beginning balance (in shares) | shares	789,674
Awarded (in shares) | shares	0
Vested (in shares) | shares	0
Forfeited (in shares) | shares	(79,325)
Non-vested Outstanding ending balance (in shares) | shares	710,349
Weighted average grant date fair value
Weighted average grant date fair value - beginning balance (in dollars per share) | $ / shares	$ 28.81
Weighted average value, awarded (in dollars per share) | $ / shares	0
Weighted average value, vested (in dollars per share) | $ / shares	0
Weighted average value, forfeited (in dollars per share) | $ / shares	28.28
Weighted average grant date fair value - ending balance (in dollars per share) | $ / shares	$ 28.87
RSUs
Shares
Non-vested Outstanding beginning balance (in shares) | shares	941,640
Awarded (in shares) | shares	267,833
Conversion of cash bonus to RSUs | shares	160,401
Vested (in shares) | shares	(395,412)
Forfeited (in shares) | shares	(182,596)
Non-vested Outstanding ending balance (in shares) | shares	791,866
Weighted average grant date fair value
Weighted average grant date fair value - beginning balance (in dollars per share) | $ / shares	$ 26.43
Weighted average value, awarded (in dollars per share) | $ / shares	12.25
Weighted average grant date fair value, Conversion of cash bonus to RSUs(in dollars per share) | $ / shares	12.87
Weighted average value, vested (in dollars per share) | $ / shares	28.3
Weighted average value, forfeited (in dollars per share) | $ / shares	22.72
Weighted average grant date fair value - ending balance (in dollars per share) | $ / shares	$ 18.81

Shareholders' Equity - Summar_4

Shareholders' Equity - Summary of the Weighted-Average Assumptions for the PSUs Granted (Details)	6 Months Ended
	Nov. 02, 2024 $ / shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected volatility	52.01%
Risk free interest rate	4.07%
Expected term (in years)	2 years 8 months 26 days
Grant date fair value	$ 14.91

Shareholders' Equity - Summar_5

Shareholders' Equity - Summary of PSU Activity (Details) - PSUs	6 Months Ended
	Nov. 02, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested Outstanding beginning balance (in shares) | shares	0
Awarded (in shares) | shares	192,779
Vested (in shares) | shares	0
Forfeited (in shares) | shares	0
Non-vested Outstanding ending balance (in shares) | shares	192,779
Weighted average grant date fair value
Weighted average grant date fair value - beginning balance (in dollars per share) | $ / shares	$ 0
Weighted average value, awarded (in dollars per share) | $ / shares	14.91
Weighted average value, vested (in dollars per share) | $ / shares	0
Weighted average value, forfeited (in dollars per share) | $ / shares	0
Weighted average grant date fair value - ending balance (in dollars per share) | $ / shares	$ 14.91

Shareholders' Equity - Summar_6

Shareholders' Equity - Summary of Awards Granted to Non-employee Directors (Details) - Non-employee Directors	6 Months Ended
	Nov. 02, 2024 $ / shares shares
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested Outstanding beginning balance (in shares)	77,319
Awarded (in shares)	143,466
Issued (in shares)	(80,436)
Non-vested Outstanding ending balance (in shares)	140,349
Weighted average grant date fair value
Weighted average grant date fair value - beginning balance (in dollars per share) | $ / shares	$ 37.23
Weighted average grant date fair value, awarded (in dollars per share) | $ / shares	9.92
Weighted average grant date fair value, issued (in dollars per share) | $ / shares	10.49
Weighted average grant date fair value - ending balance (in dollars per share) | $ / shares	$ 22.8
Non-Employee Director Awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested Outstanding beginning balance (in shares)	0
Awarded (in shares)	56,680
Issued (in shares)	(56,680)
Non-vested Outstanding ending balance (in shares)	0
Deferred Non-Employee Director Awards
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number of Shares [Roll Forward]
Non-vested Outstanding beginning balance (in shares)	77,319
Awarded (in shares)	86,786
Issued (in shares)	(23,756)
Non-vested Outstanding ending balance (in shares)	140,349

Shareholders' Equity - Summar_7

Shareholders' Equity - Summary of Combined Stock Option Activity and Related Information for Stock Options Granted (Details) - Employee Stock Option - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Nov. 02, 2024	Apr. 27, 2024
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding [Roll Forward]
Outstanding - beginning balance (in shares)	8,000
Exercised (in shares)	0
Forfeited (in shares)	(8,000)
Outstanding - ending balance (in shares)	0	8,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Weighted average exercise price, Outstanding - beginning balance (in dollars per share)	$ 37.01
Weighted average exercise price, Exercised (in dollars per share)	0
Weighted average exercise price, Forfeited (in dollars per share)	37.01
Weighted average exercise price, Outstanding - ending balance (in dollars per share)	$ 0	$ 37.01
Weighted-average life of outstanding options	0 years	2 months 12 days
Intrinsic value of outstanding options	$ 0	$ 0

Shareholders' Equity - Stock-ba

Shareholders' Equity - Stock-based Compensation Expense (Details) - 2014 Incentive Plan - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 1.5	$ 1.3	$ 3.7	$ 3.9
RSUs | Management
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	1.3	1.3	2	2.3
RSUs | Deferred Non-Employee Director Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	0	0	0.9	1
RSUs | Non-Employee Director Awards
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	0	0	0.6	0.6
PSUs | Management
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 0.2	$ 0	$ 0.2	$ 0

Loss per Share - Schedule of Co

Loss per Share - Schedule of Computation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Earnings Per Share [Abstract]
Net loss	$ (1.6)	$ (55.3)	$ (19.9)	$ (54.4)
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Denominator for basic loss per share - weighted average shares outstanding and vested/unissued restricted stock units	35,494,664	35,671,677	35,460,586	35,679,776
Dilutive potential common shares	0	0	0	0
Denominator for diluted loss per share	35,494,664	35,671,677	35,460,586	35,679,776
Loss per share:
Basic	$ (0.05)	$ (1.55)	$ (0.56)	$ (1.52)
Loss per share:
Diluted	$ (0.05)	$ (1.55)	$ (0.56)	$ (1.52)
Number of anti-dilutive potentially issuable shares excluded from diluted common shares outstanding	1,220,031	1,543,183	1,112,511	1,536,206

Loss per Share - Narrative (Det

Loss per Share - Narrative (Details) - shares	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Earnings Per Share [Abstract]
Dilutive effect of potential common shares	231,000	584,000	150,000	589,000

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023	Apr. 27, 2024
Segment Reporting Information [Line Items]
Net sales	$ 292.6	$ 288	$ 551.1	$ 577.7
Income (loss) from operations	9.4	(51.3)	1.9	(47.5)
Interest expense, net	6.2	4.4	11	7.2
Other expense (income), net	1.6	(0.2)	2.4	(0.2)
Pre-tax income (loss)	1.6	(55.5)	(11.5)	(54.5)
Goodwill impairment		56.5		56.5
Identifiable assets	1,375.1		1,375.1		$ 1,403.5
Automotive
Segment Reporting Information [Line Items]
Net sales	145.5	154.3	280.3	312.6
Income (loss) from operations	0.7	(61.5)	(5)	(64.3)
Goodwill impairment		56.5		56.5
Identifiable assets	617.7		617.7		592.7
Industrial
Segment Reporting Information [Line Items]
Net sales	131.4	120.4	242.9	235.8
Income (loss) from operations	24.3	25.7	41.2	49.9
Goodwill impairment		0		0
Identifiable assets	608.8		608.8		604.5
Interface
Segment Reporting Information [Line Items]
Net sales	15.7	11.7	27.9	26.9
Income (loss) from operations	4.7	1	6.6	3.9
Goodwill impairment		0		0
Identifiable assets	71.4		71.4		67.1
Medical
Segment Reporting Information [Line Items]
Net sales	0	1.6	0	2.4
Income (loss) from operations	0	(0.7)	0	(2.9)
Goodwill impairment		0		0
Identifiable assets	0.2		0.2		0.2
Eliminations/Corporate
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Income (loss) from operations	(20.3)	(15.8)	(40.9)	(34.1)
Goodwill impairment		0		0
Identifiable assets	77		77		$ 139
Operating Segments
Segment Reporting Information [Line Items]
Net sales	292.6	288	551.1	577.7
Operating Segments | Automotive
Segment Reporting Information [Line Items]
Net sales	148.1	158	284.8	319.1
Operating Segments | Industrial
Segment Reporting Information [Line Items]
Net sales	139.4	128	256.5	250.6
Operating Segments | Interface
Segment Reporting Information [Line Items]
Net sales	15.7	11.7	27.9	27
Operating Segments | Medical
Segment Reporting Information [Line Items]
Net sales	0	1.6	0	2.4
Operating Segments | Eliminations/Corporate
Segment Reporting Information [Line Items]
Net sales	(10.6)	(11.3)	(18.1)	(21.4)
Transfers between Segments
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Transfers between Segments | Automotive
Segment Reporting Information [Line Items]
Net sales	(2.6)	(3.7)	(4.5)	(6.5)
Transfers between Segments | Industrial
Segment Reporting Information [Line Items]
Net sales	(8)	(7.6)	(13.6)	(14.8)
Transfers between Segments | Interface
Segment Reporting Information [Line Items]
Net sales	0	0	0	(0.1)
Transfers between Segments | Medical
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Transfers between Segments | Eliminations/Corporate
Segment Reporting Information [Line Items]
Net sales	$ 10.6	$ 11.3	$ 18.1	$ 21.4

Contingencies - Narrative (Deta

Contingencies - Narrative (Details) - USD ($) $ in Millions	Aug. 05, 2024	Apr. 23, 2024	Mar. 02, 2020
Loss Contingencies [Line Items]
Affirmed final judgment amount	$ 22.5	$ 22.5
Infringing U S Sales under the Lanham Act [Member]
Loss Contingencies [Line Items]
Affirmed final judgment amount	$ 0.3
Settled Litigation [Member]
Loss Contingencies [Line Items]
Affirmed final judgment amount		$ 113
Compensatory Damages
Loss Contingencies [Line Items]
Gain Contingency, Unrecorded Amount			$ 102
Punitive Damages
Loss Contingencies [Line Items]
Gain Contingency, Unrecorded Amount			$ 11

Restructuring and Asset Impai_3

Restructuring and Asset Impairment Charges - Schedule of Components of Restructuring and Asset Impairment Charges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Restructuring Cost And Reserve [Line Items]
Restructuring and asset impairment charges	$ 0.1	$ 0.6	$ 0.7	$ 1.3
Employee Termination Benefits
Restructuring Cost And Reserve [Line Items]
Restructuring and asset impairment charges	0	0.6	0.3	0.7
Asset Impairment Charges
Restructuring Cost And Reserve [Line Items]
Restructuring and asset impairment charges	$ 0.1	$ 0	$ 0.4	$ 0.6

Restructuring and Asset Impai_4

Restructuring and Asset Impairment Charges - Schedule of Restructuring and Asset Impairment Charges by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Nov. 02, 2024	Oct. 28, 2023	Nov. 02, 2024	Oct. 28, 2023
Restructuring Cost And Reserve [Line Items]
Restructuring and asset impairment charges	$ 0.1	$ 0.6	$ 0.7	$ 1.3
Cost of Products Sold
Restructuring Cost And Reserve [Line Items]
Restructuring and asset impairment charges	0.1	0.2	0.4	0.8
Selling and Administrative Expenses
Restructuring Cost And Reserve [Line Items]
Restructuring and asset impairment charges	0	0.4	0.3	0.5
Automotive
Restructuring Cost And Reserve [Line Items]
Restructuring and asset impairment charges	0	0.2	0.3	0.2
Industrial
Restructuring Cost And Reserve [Line Items]
Restructuring and asset impairment charges	0.1	0	0.1	0
Interface
Restructuring Cost And Reserve [Line Items]
Restructuring and asset impairment charges	0	0	0	0
Medical
Restructuring Cost And Reserve [Line Items]
Restructuring and asset impairment charges	0	0.4	0	1.1
Eliminations/Corporate
Restructuring Cost And Reserve [Line Items]
Restructuring and asset impairment charges	$ 0	$ 0	$ 0.3	$ 0

Restructuring and Asset Impai_5

Restructuring and Asset Impairment Charges - Narrative (Details) - USD ($) $ in Millions	Nov. 02, 2024	Apr. 27, 2024
Restructuring and Related Activities [Abstract]
Restructuring liability	$ 0.1	$ 0.7

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Nov. 02, 2024	Nov. 02, 2024	Apr. 27, 2024
Related Party Transaction [Line Items]
Other accrued liabilities	$ 45.4	$ 45.4	$ 46
Accounts payable	129.8	129.8	132.4
Alix Partners
Related Party Transaction [Line Items]
Consulting services expenses	5.4	8.9
Other accrued liabilities and accounts payable	4.4	4.4
Other accrued liabilities	3.2	3.2	$ 1.4
Accounts payable	$ 1.2	$ 1.2