Methode Electronics (MEI) 10-Q 4 Mar 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Jan. 30, 2021	Mar. 01, 2021
Cover [Abstract]
Entity Registrant Name	METHODE ELECTRONICS, INC.
Entity Central Index Key	0000065270
Document Type	10-Q
Document Period End Date	Jan. 30, 2021
Amendment Flag	false
Current Fiscal Year End Date	--05-01
Entity Current Reporting Status	Yes
Trading Symbol	MEI
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		38,446,738
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
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 INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Jan. 30, 2021	Feb. 01, 2020
Income Statement [Abstract]
Net Sales	$ 295.3	$ 285.9	$ 787	$ 813.3
Cost of Products Sold	222.7	206.6	588.5	589.6
Gross Profit	72.6	79.3	198.5	223.7
Selling and Administrative Expenses	32.4	33	89.8	98.6
Amortization of Intangibles	4.8	4.8	14.5	14.3
Income from Operations	35.4	41.5	94.2	110.8
Interest Expense, Net	1.3	2.4	4.3	8
Other Income, Net	(2.4)	(4.9)	(8.4)	(5.8)
Income before Income Taxes	36.5	44	98.3	108.6
Income Tax Expense	4.6	2.8	7.1	15.3
Net Income	$ 31.9	$ 41.2	$ 91.2	$ 93.3
Basic and Diluted Income per Share:
Basic (in dollars per share)	$ 0.84	$ 1.10	$ 2.40	$ 2.48
Diluted (in dollars per share)	0.83	1.09	2.39	2.47
Cash Dividends per Share	$ 0.11	$ 0.11	$ 0.33	$ 0.33

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Jan. 30, 2021	Feb. 01, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net Income	$ 31.9	$ 41.2	$ 91.2	$ 93.3
Other Comprehensive Income (Loss), Net of Tax:
Foreign Currency Translation Adjustments	18.2	1.6	39.9	(2.8)
Derivative Financial Instruments	(2.1)		(4.8)
Total Comprehensive Income	$ 48	$ 42.8	$ 126.3	$ 90.5

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jan. 30, 2021	May 02, 2020
CURRENT ASSETS
Cash and Cash Equivalents	$ 218.7	$ 217.3
Accounts Receivable, Net	278.5	188.5
Inventories	124	131
Income Tax Receivable	5.5	12.9
Prepaid Expenses and Other Current Assets	18.3	15.9
TOTAL CURRENT ASSETS	645	565.6
LONG-TERM ASSETS
Property, Plant and Equipment, Net	205.4	201.9
Goodwill	234.8	231.6
Other Intangible Assets, Net	233.7	244.8
Operating Lease Assets, Net	23.3	23.5
Deferred Tax Assets	41.9	31.4
Pre-production Costs	22.6	37.1
Other Long-term Assets	37.8	34.7
TOTAL LONG-TERM ASSETS	799.5	805
TOTAL ASSETS	1,444.5	1,370.6
CURRENT LIABILITIES
Accounts Payable	117.8	73.8
Accrued Employee Liabilities	26.5	19.1
Other Accrued Liabilities	32.9	18.5
Short-term Operating Lease Liability	6.4	5.5
Short-term Debt	15.4	15.3
Income Tax Payable	10.2	11.6
TOTAL CURRENT LIABILITIES	209.2	143.8
LONG-TERM LIABILITIES
Long-term Debt	229.2	336.8
Long-term Operating Lease Liability	18.6	20.4
Long-term Income Tax Payable	26.2	29.3
Other Long-term Liabilities	21.6	15.3
Deferred Tax Liabilities	42.1	41.6
TOTAL LONG-TERM LIABILITIES	337.7	443.4
TOTAL LIABILITIES	546.9	587.2
SHAREHOLDERS' EQUITY
Common Stock, $0.50 par value, 100,000,000 shares authorized, 39,793,362 shares and 38,438,111 shares issued as of January 30, 2021 and May 2, 2020, respectively	19.9	19.2
Additional Paid-in Capital	154.4	150.7
Accumulated Other Comprehensive Income (Loss)	8.2	(26.9)
Treasury Stock, 1,346,624 shares as of January 30, 2021 and May 2, 2020	(11.5)	(11.5)
Retained Earnings	726.6	651.9
TOTAL SHAREHOLDERS' EQUITY	897.6	783.4
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 1,444.5	$ 1,370.6

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jan. 30, 2021	May 02, 2020
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)	39,793,362	38,438,111
Treasury stock (in shares)	1,346,624	1,346,624

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Retained Earnings
Beginning balance at Apr. 27, 2019	$ 689.7	$ 19.2	$ 150.4	$ (13.6)	$ (11.5)	$ 545.2
Beginning balance (in shares) at Apr. 27, 2019		38,333,576
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Restricted Stock, Net of Tax Withholding	(0.4)					(0.4)
Issuance of Restricted Stock, Net of Tax Withholding (in shares)		104,535
Stock-based Compensation Expense	5.6		5.6
Other Comprehensive Income (Loss)	(2.8)			(2.8)
Net Income	93.3					93.3
Dividends on Common Stock	(12.5)					(12.5)
Ending balance at Feb. 01, 2020	772.9	$ 19.2	156	(16.4)	(11.5)	625.6
Ending balance (in shares) at Feb. 01, 2020		38,438,111
Beginning balance at Oct. 26, 2019	732.6	$ 19.2	154.4	(18)	(11.5)	588.5
Beginning balance (in shares) at Oct. 26, 2019		38,438,111
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based Compensation Expense	1.6		1.6
Other Comprehensive Income (Loss)	1.6			1.6
Net Income	41.2					41.2
Dividends on Common Stock	(4.1)					(4.1)
Ending balance at Feb. 01, 2020	772.9	$ 19.2	156	(16.4)	(11.5)	625.6
Ending balance (in shares) at Feb. 01, 2020		38,438,111
Beginning balance at May. 02, 2020	783.4	$ 19.2	150.7	(26.9)	(11.5)	651.9
Beginning balance (in shares) at May. 02, 2020		38,438,111
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Restricted Stock, Net of Tax Withholding	(3.9)	$ 0.7	(0.7)			(3.9)
Issuance of Restricted Stock, Net of Tax Withholding (in shares)		1,350,251
Exercise of Stock Options	0.1		0.1
Exercise of Stock Options (in shares)		5,000
Stock-based Compensation Expense	4.3		4.3
Other Comprehensive Income (Loss)	35.1			35.1
Net Income	91.2					91.2
Dividends on Common Stock	(12.6)					(12.6)
Ending balance at Jan. 30, 2021	897.6	$ 19.9	154.4	8.2	(11.5)	726.6
Ending balance (in shares) at Jan. 30, 2021		39,793,362
Beginning balance at Oct. 31, 2020	851.4	$ 19.4	152.5	(7.9)	(11.5)	698.9
Beginning balance (in shares) at Oct. 31, 2020		38,876,362
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Restricted Stock, Net of Tax Withholding		$ 0.5	(0.5)
Issuance of Restricted Stock, Net of Tax Withholding (in shares)		917,000
Stock-based Compensation Expense	2.4		2.4
Other Comprehensive Income (Loss)	16.1			16.1
Net Income	31.9					31.9
Dividends on Common Stock	(4.2)					(4.2)
Ending balance at Jan. 30, 2021	$ 897.6	$ 19.9	$ 154.4	$ 8.2	$ (11.5)	$ 726.6
Ending balance (in shares) at Jan. 30, 2021		39,793,362

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Jan. 30, 2021	Feb. 01, 2020	Feb. 01, 2020
OPERATING ACTIVITIES
Net Income	$ 31.9	$ 41.2	$ 91.2	$ 93.3	$ 93.3
Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities:
Depreciation and Amortization			38.2		36
Stock-based Compensation Expense			4.3		5.6
Change in Cash Surrender Value of Life Insurance			(1.4)		(0.6)
Amortization of Debt Issuance Costs			0.5		0.5
Change in Deferred Income Taxes			(5.9)		(0.4)
Other			1.6		0.3
Changes in Operating Assets and Liabilities:
Accounts Receivable			(77.1)		(10.5)
Inventories			11.8		(9.9)
Prepaid Expenses and Other Assets			21.3		(12.8)
Accounts Payable and Other Liabilities			59.3		(18.9)
NET CASH PROVIDED BY OPERATING ACTIVITIES			143.8		82.6
INVESTING ACTIVITIES
Purchases of Property, Plant and Equipment			(20.1)		(34.9)
Sale of Business/Investment/Property			0.1		0.5
NET CASH USED IN INVESTING ACTIVITIES			(20)		(34.4)
FINANCING ACTIVITIES
Taxes Paid Related to Net Share Settlement of Equity Awards			(3.9)		(0.4)
Proceeds from Exercise of Stock Options			0.1
Repayments of Finance Leases			(0.4)		(0.5)
Cash Dividends	(4.1)	(4)	(13.2)		(12.2)
Proceeds from Borrowings			1.5		57.3
Repayments of Borrowings			(111.9)		(93.9)
NET CASH USED IN FINANCING ACTIVITIES			(127.8)		(49.7)
Effect of Foreign Currency Exchange Rate Changes on Cash and Cash Equivalents			5.4		(1.8)
INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS			1.4		(3.3)
Cash and Cash Equivalents at Beginning of the Year			217.3		83.2
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD	$ 218.7	$ 79.9	218.7	$ 79.9	79.9
Cash Paid During the Period For:
Interest			4.3		7.6
Income Taxes, Net of Refunds			9.6		16.2
Operating Lease Obligations			$ 6.7		$ 6.5

Description of Business and Sum

Description of Business and Summary of Significant Accounting Policies	9 Months Ended
	Jan. 30, 2021
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 global developer of custom engineered and application specific products and solutions with manufacturing, design and testing facilities in Belgium, Canada, China, Egypt, Germany, India, Italy, Lebanon, Malta, Mexico, the Netherlands, Singapore, Switzerland, the United Kingdom and the United States. The Company's primary manufacturing facilities are located in Dongguan and Shanghai, China; Cairo, Egypt; Mriehel, Malta; and Monterrey, Mexico. The Company designs, manufactures and markets devices employing electrical, electronic, LED lighting, sensors and radio remote control technologies. Impact of COVID-19 The COVID-19 pandemic has negatively affected the global economy, disrupted global supply chains, and created significant volatility and disruptions to capital and credit markets in the global financial markets. The Company began to see the impacts of the COVID-19 pandemic at the beginning of its fourth quarter of fiscal 2020 at its China manufacturing facilities, which were initially closed after the Chinese New Year. The Company’s manufacturing facilities in China resumed operations later in the fourth quarter of fiscal 2020, but at lower capacity utilization. However, the major impact to the Company’s business from the COVID-19 pandemic began in mid-March 2020, as the Company’s operations in North America and Europe were adversely impacted by many customers suspending their manufacturing operations due to the COVID-19 pandemic. In the first quarter of fiscal 2021, the Company’s operations in North America and Europe gradually resumed operations, however production levels were still significantly reduced, resulting in lower capacity utilization. In the second quarter of fiscal 2021, production levels returned to pre-COVID levels as a result of increased demand from customers, which continued in the third quarter of fiscal 2021. However, towards the end of the Company’s third quarter of fiscal 2021, many automotive companies announced a slowdown in their production schedules due to a worldwide semiconductor supply shortage. The semiconductor supply shortage is also impacting the Company’s supply chain and its ability to meet demand at some of its non-automotive customers. The Company expects this semiconductor shortage will likely have a short-term impact on its operating results and financial condition in the fourth quarter of fiscal 2021 and possibly into fiscal 2022. Various government programs have been enacted to provide assistance to businesses impacted by the COVID-19 pandemic. The amount of assistance the Company received was $2.7 million and $8.9 million in the three and nine months ended January 30, 2021, respectively, and has been reported as other income. The Company assessed certain accounting matters that require consideration of forecasted financial information, including, but not limited to, its allowance for credit losses, the carrying value of the Company's goodwill, identifiable intangible assets, and other long-lived assets, and valuation allowances in context with the information reasonably available to the Company and the unknown future impacts of the COVID-19 pandemic as of January 30, 2021 January 30, 2021 January 30, 2021 At this time, the ultimate impact of the COVID-19 pandemic cannot be reasonably estimated due to the uncertainty about the extent and duration of the spread of the virus. Therefore, it is possible the COVID-19 pandemic could still have an adverse impact on the Company’s future business, operating results and financial condition. 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 May 2 , 20 20 , filed with the SEC on June 30 , 20 20 . Results may vary from quarter-to-quarter for reasons other than seasonality. Financial Reporting Periods The Company maintains its financial records on the basis of a 52- or 53-week fiscal year ending on the Saturday closest to April 30. Fiscal 2021 is a 52-week year and fiscal 2020 was a 53-week year. For the three months ended January 30, 2021 13 weeks 14 weeks January 30, 2021 39 weeks 40 weeks 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. Actual results could differ from these estimates. 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 May 2, 2020. There have been no material changes to the significant accounting policies in the nine months ended January 30, 2021 Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “ Financial Instruments-Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments The Company adopted this guidance as of May 3, 2020. The guidance allows for various methods for measuring expected credit losses. The Company elected to apply a historical loss rate based on historic write-offs to aging categories. The historical loss rate will be adjusted for current conditions and reasonable and supportable forecasts of future losses as necessary. The adoption of the guidance did not have a material impact on the Company's condensed consolidated financial statements. The allowance for doubtful accounts balance was $0.8 million and $0.6 million as of January 30, 2021 and May 2, 2020, respectively In August 2018, the FASB issued ASU 2018-15, " Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract." In August 2018, the FASB issued ASU 2018-13, “ Fair Value Measurement (Topic 820) – Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement In March 2020, the FASB issued ASU 2020-04, “ Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ” ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships that reference LIBOR or another rate that is expected to be discontinued , subject to meeting certain criteria . ASU 2020-04 was effective upon issuance and generally can be applied prospectively through December 31, 2022. The Company does not expect a material effect from the adoption of this guidance on its cond ensed consolidated financial statements . New Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, " Income Taxes - Simplifying the Accounting for Income Taxes (Topic 740)

Revenue

Revenue	9 Months Ended
	Jan. 30, 2021
Revenue From Contract With Customer [Abstract]
Revenue	Note 2. 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. Revenues associated with products which the Company believes have no alternative use, and where the Company has an enforceable right to payment, are recognized on an over time basis. The Company believes the most faithful depiction of the transfer of goods to the customer is based on progress to date, which is typically smooth throughout the production process. As such, the Company recognizes revenue evenly over the production process through transfer of control to the customer. Customers typically negotiate annual price downs. Management has evaluated these price downs and determined that in some instances, these price downs give rise to a material right. In instances that a material right exists, a portion of the transaction price is allocated to the material right and recognized over the life of the contract. The Company treats shipping and handling costs as an activity necessary to fulfill the performance obligation to transfer product to the customer and not as a separate performance obligation. Across all products, the amount of revenue recognized corresponds to the related purchase order. Sales and other taxes collected concurrent with revenue-producing activities are excluded from revenue. Contract Balances 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. The net changes in the contract asset and contract liability balances for the three and nine months ended January 30, 2021 and February 1, 2020 were not material. Disaggregated Revenue Information Geographic net sales are determined based on the Company's operational locations. Though revenue recognition patterns and contract provisions 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 January 30, 2021 (13 Weeks) (Dollars in Millions) Auto Industrial Interface Medical Total Geographic Net Sales: North America $ 107.7 $ 36.6 $ 17.4 $ 0.7 $ 162.4 Europe & Africa 60.1 18.0 — — 78.1 Asia 42.7 11.9 0.2 — 54.8 Total Net Sales $ 210.5 $ 66.5 $ 17.6 $ 0.7 $ 295.3 Timing of Revenue Recognition: Goods Transferred at a Point in Time $ 198.9 $ 66.5 $ 17.6 $ 0.7 $ 283.7 Goods Transferred Over Time 11.6 — — — 11.6 Total Net Sales $ 210.5 $ 66.5 $ 17.6 $ 0.7 $ 295.3 Three Months Ended February 1, 2020 (14 Weeks) (Dollars in Millions) Auto Industrial Interface Medical Total Geographic Net Sales: North America $ 130.3 $ 38.4 $ 14.6 $ 0.6 $ 183.9 Europe & Africa 57.2 12.2 0.1 — 69.5 Asia 22.8 9.5 0.2 — 32.5 Total Net Sales $ 210.3 $ 60.1 $ 14.9 $ 0.6 $ 285.9 Timing of Revenue Recognition: Goods Transferred at a Point in Time $ 198.6 $ 60.1 $ 14.9 $ 0.6 $ 274.2 Goods Transferred Over Time 11.7 — — — 11.7 Total Net Sales $ 210.3 $ 60.1 $ 14.9 $ 0.6 $ 285.9 Nine Months Ended January 30, 2021 (39 Weeks) (Dollars in Millions) Auto Industrial Interface Medical Total Geographic Net Sales: North America $ 301.8 $ 99.0 $ 46.8 $ 1.9 $ 449.5 Europe & Africa 147.1 47.5 — — 194.6 Asia 102.4 39.9 0.6 — 142.9 Total Net Sales $ 551.3 $ 186.4 $ 47.4 $ 1.9 $ 787.0 Timing of Revenue Recognition: Goods Transferred at a Point in Time $ 525.7 $ 186.4 $ 47.4 $ 1.9 $ 761.4 Goods Transferred Over Time 25.6 — — — 25.6 Total Net Sales $ 551.3 $ 186.4 $ 47.4 $ 1.9 $ 787.0 Nine Months Ended February 1, 2020 (40 Weeks) (Dollars in Millions) Auto Industrial Interface Medical Total Geographic Net Sales: North America $ 358.6 $ 133.2 $ 38.9 $ 1.2 $ 531.9 Europe & Africa 158.9 36.6 0.3 — 195.8 Asia 59.1 26.0 0.5 — 85.6 Total Net Sales $ 576.6 $ 195.8 $ 39.7 $ 1.2 $ 813.3 Timing of Revenue Recognition: Goods Transferred at a Point in Time $ 546.3 $ 195.8 $ 39.7 $ 1.2 $ 783.0 Goods Transferred Over Time 30.3 — — — 30.3 Total Net Sales $ 576.6 $ 195.8 $ 39.7 $ 1.2 $ 813.3

Restructuring

Restructuring	9 Months Ended
	Jan. 30, 2021
Restructuring And Related Activities [Abstract]
Restructuring	Note 3 . Restructuring The Company continually monitors market factors and industry trends and takes necessary actions to reduce overall costs and improve operational profitability. In the three and nine months ended January 30, 2021, the Company initiated certain restructuring actions in response to the adverse impacts from the COVID-19 pandemic. These actions included plant consolidations and workforce reductions in the Automotive, Industrial and Interface segments. In the three months ended January 30, 2021, the Company recognized $0.7 million of restructuring costs. These charges consist of $0.4 million recorded in cost of products sold and $0.3 million recorded in selling and administrative expenses. In the nine months ended January 30, 2021, the Company recognized $8.3 million of restructuring costs. These charges consist of $5.0 million recorded in cost of products sold and $3.3 million recorded in selling and administrative expenses. Employee termination benefits are accrued upon the commitment to a termination plan and when the benefit arrangement is communicated to affected employees, or when liabilities are determined to be probable and estimable. Asset impairment charges relate to the impairment of right-of-use lease assets and equipment. Contract termination costs are recorded when notification of termination is given to the other party. The following is a rollforward of the Company's restructuring activity for the nine months ended January 30, 2021: Utilization (Dollars in Millions) Accrual as of May 2, 2020 YTD Charges Cash Non-cash Accrual as of January 30, 2021 Employee Termination Benefits $ 0.2 $ 7.1 $ (6.5 ) $ — $ 0.8 Asset Impairment Charges — 0.6 — (0.6 ) — Contract Termination Costs — 0.6 — — 0.6 Total $ 0.2 $ 8.3 $ (6.5 ) $ (0.6 ) $ 1.4 The table below presents restructuring costs by reportable segment: Three Months Ended Nine Months Ended January 30, 2021 February 1, 2020 January 30, 2021 February 1, 2020 (Dollars in Millions) (13 Weeks) (14 Weeks) (39 Weeks) (40 Weeks) Automotive $ 0.5 $ 0.5 $ 6.4 $ 0.7 Industrial — 0.2 0.9 0.4 Interface — — 0.7 — Medical — — — 0.1 Eliminations/Corporate 0.2 0.4 0.3 0.4 Total Restructuring Costs $ 0.7 $ 1.1 $ 8.3 $ 1.6 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 expects to incur additional restructuring costs of approximately $0.2 million during the current fiscal year related to the initiated restructuring programs and may take additional restructuring actions in future periods based upon market conditions and industry trends.

Income Taxes

Income Taxes	9 Months Ended
	Jan. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Note 4 . Income Taxes The provision for income taxes for an interim period is based on an estimated annual effective income tax rate and this rate is applied to ordinary year-to-date earnings or losses. The estimated annual effective income tax rate is determined excluding the effects of unusual or significant one-time items that are reported net of the related tax effects in the period in which they occur. In addition, any material effects of enacted tax law or rate changes as well as the Company’s ability to utilize various tax assets is recognized in the period in which the change occurs. The computation of the estimated annual effective income tax rate at each interim period requires certain estimates and assumptions including, but not limited to, the expected pre-tax income (or loss) for the year by jurisdiction, certain book to tax adjustments, and the likelihood of the realizability of deferred tax assets generated in the current year. The volatile global economic conditions resulting from the COVID-19 pandemic, the impacts of which are difficult to predict, may cause fluctuations in the Company’s expected pre-tax income (or loss) for the year, which could create volatility in the estimated annual effective income tax rate. The estimates used to compute the provision or benefit for income taxes may change as new events occur, additional information is obtained or as the Company’s tax environment changes. The Company’s income tax expense and effective tax rate for the three and nine months ended January 30, 2021 and February 1, 2020 were as follows: Three Months Ended Nine Months Ended January 30, 2021 February 1, 2020 January 30, 2021 February 1, 2020 (Dollars in Millions) (13 Weeks) (14 Weeks) (39 Weeks) (40 Weeks) Income before Income Taxes $ 36.5 $ 44.0 $ 98.3 $ 108.6 Income Tax Expense $ 4.6 $ 2.8 $ 7.1 $ 15.3 Effective Tax Rate 12.6 % 6.4 % 7.2 % 14.1 % The income tax provision for the three months ended January 30, 2021 was lower than the U.S. statutory tax rate primarily due to foreign operations with lower statutory tax rates. The income tax provision for the nine months ended January 30, 2021 benefited from various tax credits earned in foreign jurisdictions and foreign operations with lower statutory tax rates. The income tax provision for both the three and nine months ended February 1, 2020 was lower than the U.S. statutory tax rate primarily due to beneficial changes related to U.S. Tax Reform and foreign operations with lower statutory rates. The Company's unrecognized income tax benefits were $5.2 million as of both January 30, 2021 and May 2, 2020. 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, lapse of applicable statutes of limitations and changes in tax law.

Balance Sheet Components

Balance Sheet Components	9 Months Ended
	Jan. 30, 2021
Balance Sheet Components [Abstract]
Balance Sheet Components	Note 5. Balance Sheet Components 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: (Dollars in Millions) January 30, 2021 May 2, 2020 Finished Products $ 25.0 $ 45.7 Work in Process 12.9 10.8 Raw Materials 86.1 74.5 Total Inventories $ 124.0 $ 131.0 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: (Dollars in Millions) January 30, 2021 May 2, 2020 Land $ 3.4 $ 3.3 Buildings and Building Improvements 84.5 87.3 Machinery and Equipment 440.6 412.3 Total Property, Plant and Equipment, Gross 528.5 502.9 Less: Accumulated Depreciation (323.1 ) (301.0 ) Property, Plant and Equipment, Net $ 205.4 $ 201.9 Depreciation expense was $8.7 million and $7.5 million in the three months ended January 30, 2021 and February 1, 2020, respectively. Depreciation expense was $23.7 million and $21.7 million in the nine months ended January 30, 2021 and February 1, 2020, respectively. As of January 30, 2021 and May 2, 2020, capital expenditures recorded in accounts payable totaled $1.1 million and $5.8 million, respectively. Pre-Production Tooling Costs Related to Long-term Supply Arrangements The Company incurs pre-production tooling costs related to certain products produced for its customers under long-term supply arrangements. As of January 30, 2021 and May 2, 2020, the Company had $22.6 million and $37.1 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. Engineering, testing and other costs incurred in the design and development of production parts are expensed as incurred, unless the costs are reimbursable, as specified in a customer contract. As of January 30, 2021 and May 2, 2020, the Company had $16.3 million and $19.0 million, respectively, of Company owned pre-production tooling, which is capitalized within property, plant and equipment. Derivative Instruments and Hedging Activities The Company is exposed to foreign currency risks that arise from normal business operations. The Company strives to control its exposure to these risks through our normal operating activities and, where appropriate, through derivative instruments. The Company does not hold derivative instruments for trading or speculative purposes. The Company recognizes derivative instruments as either assets or liabilities in the condensed consolidated balance sheets at fair value and classifies the derivatives within Level 2 in the fair value hierarchy. Net Investment Hedges In April 2020, the Company entered into a variable-rate, cross-currency swap, maturing on August 31, 2023, 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 rates. T he cross-currency swap was in a liability position with an aggregate fair value of $7.5 million and $1.3 million as of January 30, 2021 and May 2, 2020 , respectively, and is recorded within other long-term liabilities in the condensed consolidated balance sheets. Hedge effectiveness is assessed at the inception of the hedging relationship and quarterly thereafter, under the spot-to-spot method. The Company records changes in fair value attributable to the translation of foreign currencies through accumulated other comprehensive income (loss). The Company recognizes the impact of all other changes in fair value of the derivative through interest expense, which was not material in the three and nine months ended January 30, 2021. Derivatives Not Designated as Hedges In January 2021, the Company began to use 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 co ntracts are recognized in other income (expense), net, along with the foreign currency gains and losses on monetary assets and liabilities in the condensed consolidated statements of income . As of January 30, 2021 January 30, 2021

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	9 Months Ended
	Jan. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Note 6. Goodwill A summary of the changes in the carrying amount of goodwill, by segment, is shown below: (Dollars in Millions) Automotive Industrial Total Balance as of May 2, 2020 $ 106.2 $ 125.4 $ 231.6 Foreign Currency Translation 0.6 2.6 3.2 Balance as of January 30, 2021 $ 106.8 $ 128.0 $ 234.8 The Company tests indefinite-lived intangible assets and goodwill for impairment by either performing a qualitative evaluation or a quantitative test at least annually, or more frequently if an indication of impairment arises. The qualitative evaluation is an assessment of factors to determine whether it is more likely than not that the fair value of a reporting unit or asset is less than its carrying amount. During the third quarter of fiscal 2021, the Company evaluated the effects of the COVID-19 pandemic and its negative impact on the global economy on each of the Company’s reporting units and indefinite-lived intangible assets. Management reviewed key assumptions, including revisions of projected future revenues for reporting units and the results of the previous annual impairment testing performed during the fourth quarter of fiscal 2020. The Company did not identify an indication of impairment for any of its reporting units or indefinite-lived intangible assets. Although it was determined that a triggering event had not occurred as of January 30, 2021, management will continue to monitor the impacts of the COVID-19 pandemic on the Company and significant changes in key assumptions that could result in future period impairment charges. Other Intangible Assets, Net Details of identifiable intangible assets are shown below: As of January 30, 2021 (Dollars in Millions) Gross Accumulated Amortization Net Wtd. Avg. Remaining Amortization Periods (Years) Definite-lived Intangible Assets: Customer Relationships and Agreements $ 246.7 $ (51.2 ) $ 195.5 15.8 Trade Names, Patents and Technology Licenses 76.1 (39.7 ) 36.4 7.2 Total Definite-lived Intangible Assets 322.8 (90.9 ) 231.9 Indefinite-lived Intangible Assets: Trade Names, Patents and Technology Licenses 1.8 — 1.8 Total Indefinite-lived Intangible Assets 1.8 — 1.8 Total Other Intangible Assets $ 324.6 $ (90.9 ) $ 233.7 As of May 2, 2020 (Dollars in Millions) Gross Accumulated Amortization Net Wtd. Avg. Remaining Amortization Periods (Years) Definite-lived Intangible Assets: Customer Relationships and Agreements $ 243.5 $ (40.8 ) $ 202.7 16.5 Trade Names, Patents and Technology Licenses 75.3 (35.0 ) 40.3 7.8 Total Definite-lived Intangible Assets 318.8 (75.8 ) 243.0 Indefinite-lived Intangible Assets: Trade Names, Patents and Technology Licenses 1.8 — 1.8 Total Indefinite-lived Intangible Assets 1.8 — 1.8 Total Other Intangible Assets $ 320.6 $ (75.8 ) $ 244.8 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: (Dollars in Millions) Fiscal Year: Remainder of 2021 $ 4.8 2022 19.2 2023 19.1 2024 18.7 2025 18.2 Thereafter 151.9 Total $ 231.9

Debt

Debt	9 Months Ended
	Jan. 30, 2021
Debt Disclosure [Abstract]
Debt	Note 7. Debt A summary of debt is shown below: (Dollars in Millions) January 30, 2021 May 2, 2020 Revolving Credit Facility $ 9.7 $ 108.5 Term Loan 221.9 231.2 Other Debt 14.7 14.6 Unamortized Debt Issuance Costs (1.7 ) (2.2 ) Total Debt 244.6 352.1 Less: Current Maturities (15.4 ) (15.3 ) Total Long-term Debt $ 229.2 $ 336.8 Revolving Credit Facility/Term Loan The Company is a party to an Amended and Restated Credit Agreement (“Credit Agreement”) with Bank of America, N.A., as Administrative Agent, and Wells Fargo Bank, N.A. The Credit Agreement terminates in September 2023 and consists of a senior unsecured revolving credit facility (“Revolving Credit Facility”) of $200.0 million and a senior unsecured term loan (“Term Loan”) of $250.0 million. In addition, the Company has an option to increase the size of the Revolving Credit Facility and Term Loan by up to an additional $200.0 million, subject to customary conditions and approval of the lenders providing new commitments. The Credit Agreement is guaranteed by the Company’s wholly-owned U.S. subsidiaries. For the Term Loan, the Company is required to make quarterly principal payments of 1.25% of the original Term Loan ($3.1 million) through maturity, with the remaining balance due on September 12, 2023. Outstanding borrowings under the Credit Agreement bear interest at variable rates based on the type of borrowing and the Company’s debt to EBITDA financial ratio, as defined in the Credit Agreement. The weighted-average interest rate on outstanding borrowings under the Credit Agreement was 1.63% at January 30, 2021. The Credit Agreement contains customary representations and warranties, financial covenants, restrictive covenants and events of default. As of January 30, 2021, the Company was in compliance with all the covenants in the Credit Agreement. Other Debt One of the Company’s European subsidiaries has debt that consists of 14 notes with maturities ranging from 2021 to 2031. The weighted-average interest rate on this debt was approximately 1.47% at January 30, 2021 and $2.9 million of the debt was classified as short-term.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Jan. 30, 2021
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Shareholders' Equity	Note 8. Dividends The Company paid dividends totaling $4.1 million and $4.0 million in the three months ended January 30, 2021 and February 1, 2020, respectively. The Company paid dividends totaling $13.2 million and $12.2 million in the nine months ended January 30, 2021 and February 1, 2020, respectively. Dividends paid in the nine months ended January 30, 2021 include $0.9 million of dividends on restricted stock that vested during the period. 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 accumulated other comprehensive income (loss), net of tax is shown below: Three Months Ended Nine Months Ended January 30, 2021 February 1, 2020 January 30, 2021 February 1, 2020 (Dollars in Millions) (13 Weeks) (14 Weeks) (39 Weeks) (40 Weeks) Currency Translation Adjustments: Balance at Beginning of Period $ (4.2 ) $ (18.0 ) $ (25.9 ) $ (13.6 ) Other Comprehensive Income (Loss) Recognized During the Period, Net of Tax Expense of $0.3 million; $—; $0.6 million; $— 18.2 1.6 39.9 (2.8 ) Balance at End of Period 14.0 (16.4 ) 14.0 (16.4 ) Derivative Instruments: Balance at Beginning of Period (3.7 ) — (1.0 ) — Other Comprehensive Loss Recognized During the Period, Net of Tax Benefit of $0.6 million; $—; $1.5 million; $— (2.1 ) — (4.8 ) — Balance at End of Period (5.8 ) — (5.8 ) — Accumulated Other Comprehensive Income (Loss), End of Period $ 8.2 $ (16.4 ) $ 8.2 $ (16.4 ) Stock-based Compensation The Company has granted stock options, performance-based restricted stock (“PSAs”), performance units (“PUs”), restricted stock units (“RSUs”) and stock awards to employees and non-employee directors under the Methode Electronics, Inc. 2014 Omnibus Incentive Plan (“2014 Plan”), the Methode Electronics, Inc. 2010 Stock Plan (“2010 Plan”), the Methode Electronics, Inc. 2007 Stock Plan (“2007 Plan”) and the Methode Electronics, Inc. 2004 Stock Plan (“2004 Plan”). The Company can no longer make grants under the 2010 Plan, 2007 Plan and 2004 Plan. The number of shares of common stock originally authorized under the 2014 Plan is 3,000,000. As of January 30, 2021, there were 196,288 shares available for award under the 2014 Plan. The Company accounts for stock-based compensation under the fair-value method. Accordingly, equity-classified stock-based compensation cost is measured at the grant date, based on the fair value of the award, and is recognized as compensation cost over the requisite service period. The requisite service period generally matches the stated vesting period of the award but may be shorter if the employee is retirement-eligible and, under the award’s terms, may fully vest upon retirement from the Company. The Company recognizes compensation cost for awards that have graded vesting features under the graded vesting method, which considers each separately vesting tranche as though they were, in substance, multiple awards. Performance-based Restricted Stock (“PSAs”) and Performance Units (“PUs”) In the second quarter of fiscal 2021, the Company granted 917,000 PSAs to executive officers and certain non-executives which will 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 PSAs 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, an additional 458,500 PUs can be earned that will be settled in cash. At the discretion of the Compensation Committee, the PUs may be settled in shares of common stock. The fair value of the PSAs was based on the closing stock price on the date of grant and earn dividend equivalents during the vesting period, which are forfeitable if the PSAs do not vest. Compensation expense for PSAs are recognized when it is probable the minimum threshold performance criteria will be achieved. Compensation expense for the PUs are recognized when it is probable that the target performance criteria will be achieved. 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, based on projections of the Company’s current business portfolio, compensation expense has not been recognized for the PSAs or PUs in the three and nine months ended January 30, 2021, as the performance conditions are not probable of being met. Restricted Stock Units (“RSUs”) RSUs granted under the 2014 Plan vest over a pre-determined period of time, up to five years. In the second quarter of fiscal 2021, the Company granted 938,300 RSUs to executive officers and certain non-executives. The fair value of the RSUs was 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 don’t vest. The following table summarizes RSU activity under the 2014 Plan: RSU Shares Wtd. Avg. Grant Date Fair Value Non-vested at May 2, 2020 3,100 $ 41.20 Awarded 938,300 $ 28.30 Vested — $ — Forfeited — $ — Non-vested at January 30, 2021 941,400 $ 28.34 Under the various stock plans, common stock underlying vested RSUs held by certain executives will not be delivered until termination of employment or a change of control of the Company. As of January 30, 2021, common stock to be delivered to these executives totaled 577,055 shares. Director Awards In the nine months ended January 30, 2021 and February 1, 2020, the Company granted 33,000 shares and 30,000 shares, respectively, of common stock to its non-employee directors under the 2014 Plan. The shares vested immediately upon grant. The fair value was determined based on the closing price of the Company’s stock on the date of grant. Stock Options The following table summarizes combined stock option activity under the 2010 Plan and 2007 Plan: Shares Wtd. Avg. Exercise Price Outstanding and Exercisable at May 2, 2020 106,668 $ 35.76 Exercised (5,000 ) $ 10.55 Forfeited (1,668 ) $ 37.01 Outstanding and Exercisable at January 30, 2021 100,000 $ 37.01 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 income. The following table summarizes the stock-based compensation expense related to the equity awards: Three Months Ended Nine Months Ended January 30, 2021 February 1, 2020 January 30, 2021 February 1, 2020 (Dollars in Millions) (13 Weeks) (14 Weeks) (39 Weeks) (40 Weeks) PSAs $ — $ 1.3 $ — $ 3.6 RSUs 2.4 0.3 3.4 1.1 Director Awards — — 0.9 0.9 Total Stock-based Compensation Expense $ 2.4 $ 1.6 $ 4.3 $ 5.6

Income per Share

Income per Share	9 Months Ended
	Jan. 30, 2021
Earnings Per Share [Abstract]
Income per Share	Note 9. Income per Share Basic income per share is calculated by dividing net income 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 income 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 income per share: Three Months Ended Nine Months Ended January 30, 2021 February 1, 2020 January 30, 2021 February 1, 2020 (13 Weeks) (14 Weeks) (39 Weeks) (40 Weeks) Numerator: Net Income (in millions) $ 31.9 $ 41.2 $ 91.2 $ 93.3 Denominator: Denominator for Basic Income per Share-Weighted Average Shares Outstanding and Vested/Unissued RSUs 38,106,793 37,587,742 38,016,711 37,570,423 Dilutive Potential Common Shares-Employee Stock Options, PSAs and RSUs 293,303 166,229 211,974 150,093 Denominator for Diluted Income per Share 38,400,096 37,753,971 38,228,685 37,720,516 Basic and Diluted Income per Share: Basic Income per Share $ 0.84 $ 1.10 $ 2.40 $ 2.48 Diluted Income per Share $ 0.83 $ 1.09 $ 2.39 $ 2.47 Number of Anti-dilutive Potentially Issuable Shares Excluded from Diluted Common Shares Outstanding 917,000 646,075 678,556 721,604

Segment Information

Segment Information	9 Months Ended
	Jan. 30, 2021
Segment Reporting [Abstract]
Segment Information	Note 10. 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 President and Chief Executive Officer (“CEO”). The Company has four reporting segments as described below. 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 center consoles, hidden switches, ergonomic switches, transmission lead-frames, LED-based lighting and sensors, which incorporate magneto-elastic sensing and other technologies that monitor the operation or status of a component or system. The Industrial segment manufactures external 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 low-voltage flexible power cabling systems and powder-coated busbars that are used in various markets and applications, including aerospace, computers, industrial, power conversion, military, telecommunications and transportation. The Interface segment provides a variety of copper and fiber-optic interface and interface solutions for the appliance, commercial food service, construction, consumer, material handling, point-of-sale and telecommunications markets. Solutions include copper transceivers and solid-state field-effect consumer touch panels. The Medical segment is made up of the Company's medical device business, Dabir Surfaces, with its surface support technology aimed at pressure injury prevention. Methode has developed the technology for use by patients who are immobilized or otherwise at risk for pressure injuries, including patients undergoing long-duration surgical procedures. The tables below present information about the Company's reportable segments: Three Months Ended January 30, 2021 (13 Weeks) (Dollars in Millions) Automotive Industrial Interface Medical Eliminations /Corporate Consolidated Net Sales $ 211.7 $ 68.3 $ 17.6 $ 0.7 $ (3.0 ) $ 295.3 Transfers between Segments (1.2 ) (1.8 ) — — 3.0 — Net Sales to Unaffiliated Customers $ 210.5 $ 66.5 $ 17.6 $ 0.7 $ — $ 295.3 Income (Loss) from Operations $ 29.6 $ 16.9 $ 3.2 $ (1.0 ) $ (13.3 ) $ 35.4 Interest Expense, Net 1.3 Other Income, Net (2.4 ) Income before Income Taxes $ 36.5 Three Months Ended February 1, 2020 (14 Weeks) (Dollars in Millions) Automotive Industrial Interface Medical Eliminations /Corporate Consolidated Net Sales $ 211.5 $ 60.8 $ 14.9 $ 0.6 $ (1.9 ) $ 285.9 Transfers between Segments (1.2 ) (0.7 ) — — 1.9 — Net Sales to Unaffiliated Customers $ 210.3 $ 60.1 $ 14.9 $ 0.6 $ — $ 285.9 Income (Loss) from Operations $ 39.2 $ 13.2 $ 0.7 $ (1.6 ) $ (10.0 ) $ 41.5 Interest Expense, Net 2.4 Other Income, Net (4.9 ) Income before Income Taxes $ 44.0 Nine Months Ended January 30, 2021 (39 Weeks) (Dollars in Millions) Automotive Industrial Interface Medical Eliminations /Corporate Consolidated Net Sales $ 555.0 $ 190.2 $ 47.4 $ 1.9 $ (7.5 ) $ 787.0 Transfers between Segments (3.7 ) (3.8 ) — — 7.5 — Net Sales to Unaffiliated Customers $ 551.3 $ 186.4 $ 47.4 $ 1.9 $ — $ 787.0 Income (Loss) from Operations $ 83.7 $ 40.0 $ 7.4 $ (4.1 ) $ (32.8 ) $ 94.2 Interest Expense, Net 4.3 Other Income, Net (8.4 ) Income before Income Taxes $ 98.3 Nine Months Ended February 1, 2020 (40 Weeks) (Dollars in Millions) Automotive Industrial Interface Medical Eliminations /Corporate Consolidated Net Sales $ 580.3 $ 197.8 $ 39.8 $ 1.2 $ (5.8 ) $ 813.3 Transfers between Segments (3.7 ) (2.0 ) (0.1 ) — 5.8 — Net Sales to Unaffiliated Customers $ 576.6 $ 195.8 $ 39.7 $ 1.2 $ — $ 813.3 Income (Loss) from Operations $ 101.2 $ 44.8 $ 0.7 $ (4.9 ) $ (31.0 ) $ 110.8 Interest Expense, Net 8.0 Other Income, Net (5.8 ) Income before Income Taxes $ 108.6 (Dollars in Millions) January 30, 2021 May 2, 2020 Identifiable Assets: Automotive $ 797.1 $ 670.9 Industrial 452.6 421.8 Interface 67.3 71.0 Medical 7.4 8.8 Eliminations/Corporate 120.1 198.1 Total Identifiable Assets $ 1,444.5 $ 1,370.6

Contingencies

Contingencies	9 Months Ended
	Jan. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Contingencies	Note 11. 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 considers insurance coverage and third-party indemnification when determining required accruals for pending litigation and claims. Although the outcome of potential legal actions and claims cannot be determined, it is the Company's opinion, based on the information available, that it has adequate reserves for these liabilities. 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 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 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 have been consolidated into a single appeal. That appeal is fully briefed and has been set for argument on March 8, 2021. The Court will issue a decision sometime thereafter. The Company is working with counsel to collect on the judgment though there are challenges in Europe in doing so while the appeal is pending. Like any judgment, particularly any judgment involving defendants outside of the United States, there is no guarantee that the Company will be able to collect the judgment .

Description of Business and S_2

Description of Business and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Jan. 30, 2021
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 May 2 , 20 20 , filed with the SEC on June 30 , 20 20 . Results may vary from quarter-to-quarter for reasons other than seasonality.
Financial Reporting Periods	Financial Reporting Periods The Company maintains its financial records on the basis of a 52- or 53-week fiscal year ending on the Saturday closest to April 30. Fiscal 2021 is a 52-week year and fiscal 2020 was a 53-week year. For the three months ended January 30, 2021 13 weeks 14 weeks January 30, 2021 39 weeks 40 weeks
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. Actual results could differ from these estimates.
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 May 2, 2020. There have been no material changes to the significant accounting policies in the nine months ended January 30, 2021
Recently Issued/Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “ Financial Instruments-Credit Losses (Topic 326) - Measurement of Credit Losses on Financial Instruments The Company adopted this guidance as of May 3, 2020. The guidance allows for various methods for measuring expected credit losses. The Company elected to apply a historical loss rate based on historic write-offs to aging categories. The historical loss rate will be adjusted for current conditions and reasonable and supportable forecasts of future losses as necessary. The adoption of the guidance did not have a material impact on the Company's condensed consolidated financial statements. The allowance for doubtful accounts balance was $0.8 million and $0.6 million as of January 30, 2021 and May 2, 2020, respectively In August 2018, the FASB issued ASU 2018-15, " Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract." In August 2018, the FASB issued ASU 2018-13, “ Fair Value Measurement (Topic 820) – Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement In March 2020, the FASB issued ASU 2020-04, “ Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. ” ASU 2020-04 provides optional expedients and exceptions for applying GAAP to contract modifications and hedging relationships that reference LIBOR or another rate that is expected to be discontinued , subject to meeting certain criteria . ASU 2020-04 was effective upon issuance and generally can be applied prospectively through December 31, 2022. The Company does not expect a material effect from the adoption of this guidance on its cond ensed consolidated financial statements . New Accounting Pronouncements Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, " Income Taxes - Simplifying the Accounting for Income Taxes (Topic 740)
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.
Income per Share	Basic income per share is calculated by dividing net income 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 income 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 considers insurance coverage and third-party indemnification when determining required accruals for pending litigation and claims.  Although the outcome of potential legal actions and claims cannot be determined, it is the Company's opinion, based on the information available, that it has adequate reserves for these liabilities.
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. Revenues associated with products which the Company believes have no alternative use, and where the Company has an enforceable right to payment, are recognized on an over time basis. The Company believes the most faithful depiction of the transfer of goods to the customer is based on progress to date, which is typically smooth throughout the production process. As such, the Company recognizes revenue evenly over the production process through transfer of control to the customer. Customers typically negotiate annual price downs. Management has evaluated these price downs and determined that in some instances, these price downs give rise to a material right. In instances that a material right exists, a portion of the transaction price is allocated to the material right and recognized over the life of the contract. The Company treats shipping and handling costs as an activity necessary to fulfill the performance obligation to transfer product to the customer and not as a separate performance obligation. Across all products, the amount of revenue recognized corresponds to the related purchase order. Sales and other taxes collected concurrent with revenue-producing activities are excluded from revenue.

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Jan. 30, 2021
Revenue From Contract With Customer [Abstract]
Disaggregated Revenue Information	Geographic net sales are determined based on the Company's operational locations. Though revenue recognition patterns and contract provisions 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 January 30, 2021 (13 Weeks) (Dollars in Millions) Auto Industrial Interface Medical Total Geographic Net Sales: North America $ 107.7 $ 36.6 $ 17.4 $ 0.7 $ 162.4 Europe & Africa 60.1 18.0 — — 78.1 Asia 42.7 11.9 0.2 — 54.8 Total Net Sales $ 210.5 $ 66.5 $ 17.6 $ 0.7 $ 295.3 Timing of Revenue Recognition: Goods Transferred at a Point in Time $ 198.9 $ 66.5 $ 17.6 $ 0.7 $ 283.7 Goods Transferred Over Time 11.6 — — — 11.6 Total Net Sales $ 210.5 $ 66.5 $ 17.6 $ 0.7 $ 295.3 Three Months Ended February 1, 2020 (14 Weeks) (Dollars in Millions) Auto Industrial Interface Medical Total Geographic Net Sales: North America $ 130.3 $ 38.4 $ 14.6 $ 0.6 $ 183.9 Europe & Africa 57.2 12.2 0.1 — 69.5 Asia 22.8 9.5 0.2 — 32.5 Total Net Sales $ 210.3 $ 60.1 $ 14.9 $ 0.6 $ 285.9 Timing of Revenue Recognition: Goods Transferred at a Point in Time $ 198.6 $ 60.1 $ 14.9 $ 0.6 $ 274.2 Goods Transferred Over Time 11.7 — — — 11.7 Total Net Sales $ 210.3 $ 60.1 $ 14.9 $ 0.6 $ 285.9 Nine Months Ended January 30, 2021 (39 Weeks) (Dollars in Millions) Auto Industrial Interface Medical Total Geographic Net Sales: North America $ 301.8 $ 99.0 $ 46.8 $ 1.9 $ 449.5 Europe & Africa 147.1 47.5 — — 194.6 Asia 102.4 39.9 0.6 — 142.9 Total Net Sales $ 551.3 $ 186.4 $ 47.4 $ 1.9 $ 787.0 Timing of Revenue Recognition: Goods Transferred at a Point in Time $ 525.7 $ 186.4 $ 47.4 $ 1.9 $ 761.4 Goods Transferred Over Time 25.6 — — — 25.6 Total Net Sales $ 551.3 $ 186.4 $ 47.4 $ 1.9 $ 787.0 Nine Months Ended February 1, 2020 (40 Weeks) (Dollars in Millions) Auto Industrial Interface Medical Total Geographic Net Sales: North America $ 358.6 $ 133.2 $ 38.9 $ 1.2 $ 531.9 Europe & Africa 158.9 36.6 0.3 — 195.8 Asia 59.1 26.0 0.5 — 85.6 Total Net Sales $ 576.6 $ 195.8 $ 39.7 $ 1.2 $ 813.3 Timing of Revenue Recognition: Goods Transferred at a Point in Time $ 546.3 $ 195.8 $ 39.7 $ 1.2 $ 783.0 Goods Transferred Over Time 30.3 — — — 30.3 Total Net Sales $ 576.6 $ 195.8 $ 39.7 $ 1.2 $ 813.3

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Jan. 30, 2021
Restructuring And Related Activities [Abstract]
Schedule of Restructuring Activity	The following is a rollforward of the Company's restructuring activity for the nine months ended January 30, 2021: Utilization (Dollars in Millions) Accrual as of May 2, 2020 YTD Charges Cash Non-cash Accrual as of January 30, 2021 Employee Termination Benefits $ 0.2 $ 7.1 $ (6.5 ) $ — $ 0.8 Asset Impairment Charges — 0.6 — (0.6 ) — Contract Termination Costs — 0.6 — — 0.6 Total $ 0.2 $ 8.3 $ (6.5 ) $ (0.6 ) $ 1.4
Schedule Of Restructuring Costs by Reportable Segment Table Text Block	The table below presents restructuring costs by reportable segment: Three Months Ended Nine Months Ended January 30, 2021 February 1, 2020 January 30, 2021 February 1, 2020 (Dollars in Millions) (13 Weeks) (14 Weeks) (39 Weeks) (40 Weeks) Automotive $ 0.5 $ 0.5 $ 6.4 $ 0.7 Industrial — 0.2 0.9 0.4 Interface — — 0.7 — Medical — — — 0.1 Eliminations/Corporate 0.2 0.4 0.3 0.4 Total Restructuring Costs $ 0.7 $ 1.1 $ 8.3 $ 1.6

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Jan. 30, 2021
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 nine months ended January 30, 2021 and February 1, 2020 were as follows: Three Months Ended Nine Months Ended January 30, 2021 February 1, 2020 January 30, 2021 February 1, 2020 (Dollars in Millions) (13 Weeks) (14 Weeks) (39 Weeks) (40 Weeks) Income before Income Taxes $ 36.5 $ 44.0 $ 98.3 $ 108.6 Income Tax Expense $ 4.6 $ 2.8 $ 7.1 $ 15.3 Effective Tax Rate 12.6 % 6.4 % 7.2 % 14.1 %

Balance Sheet Components (Table

Balance Sheet Components (Tables)	9 Months Ended
	Jan. 30, 2021
Balance Sheet Components [Abstract]
Summary of 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: (Dollars in Millions) January 30, 2021 May 2, 2020 Finished Products $ 25.0 $ 45.7 Work in Process 12.9 10.8 Raw Materials 86.1 74.5 Total Inventories $ 124.0 $ 131.0
Summary of Property, Plant and Equipment	A summary of property, plant and equipment is shown below: (Dollars in Millions) January 30, 2021 May 2, 2020 Land $ 3.4 $ 3.3 Buildings and Building Improvements 84.5 87.3 Machinery and Equipment 440.6 412.3 Total Property, Plant and Equipment, Gross 528.5 502.9 Less: Accumulated Depreciation (323.1 ) (301.0 ) Property, Plant and Equipment, Net $ 205.4 $ 201.9

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	9 Months Ended
	Jan. 30, 2021
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, by segment, is shown below: (Dollars in Millions) Automotive Industrial Total Balance as of May 2, 2020 $ 106.2 $ 125.4 $ 231.6 Foreign Currency Translation 0.6 2.6 3.2 Balance as of January 30, 2021 $ 106.8 $ 128.0 $ 234.8
Schedule of Other Intangible Assets, Net	Details of identifiable intangible assets are shown below: As of January 30, 2021 (Dollars in Millions) Gross Accumulated Amortization Net Wtd. Avg. Remaining Amortization Periods (Years) Definite-lived Intangible Assets: Customer Relationships and Agreements $ 246.7 $ (51.2 ) $ 195.5 15.8 Trade Names, Patents and Technology Licenses 76.1 (39.7 ) 36.4 7.2 Total Definite-lived Intangible Assets 322.8 (90.9 ) 231.9 Indefinite-lived Intangible Assets: Trade Names, Patents and Technology Licenses 1.8 — 1.8 Total Indefinite-lived Intangible Assets 1.8 — 1.8 Total Other Intangible Assets $ 324.6 $ (90.9 ) $ 233.7 As of May 2, 2020 (Dollars in Millions) Gross Accumulated Amortization Net Wtd. Avg. Remaining Amortization Periods (Years) Definite-lived Intangible Assets: Customer Relationships and Agreements $ 243.5 $ (40.8 ) $ 202.7 16.5 Trade Names, Patents and Technology Licenses 75.3 (35.0 ) 40.3 7.8 Total Definite-lived Intangible Assets 318.8 (75.8 ) 243.0 Indefinite-lived Intangible Assets: Trade Names, Patents and Technology Licenses 1.8 — 1.8 Total Indefinite-lived Intangible Assets 1.8 — 1.8 Total Other Intangible Assets $ 320.6 $ (75.8 ) $ 244.8
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: (Dollars in Millions) Fiscal Year: Remainder of 2021 $ 4.8 2022 19.2 2023 19.1 2024 18.7 2025 18.2 Thereafter 151.9 Total $ 231.9

Debt (Tables)

Debt (Tables)	9 Months Ended
	Jan. 30, 2021
Debt Disclosure [Abstract]
Summary of Debt	A summary of debt is shown below: (Dollars in Millions) January 30, 2021 May 2, 2020 Revolving Credit Facility $ 9.7 $ 108.5 Term Loan 221.9 231.2 Other Debt 14.7 14.6 Unamortized Debt Issuance Costs (1.7 ) (2.2 ) Total Debt 244.6 352.1 Less: Current Maturities (15.4 ) (15.3 ) Total Long-term Debt $ 229.2 $ 336.8

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Jan. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax	A summary of changes in accumulated other comprehensive income (loss), net of tax is shown below: Three Months Ended Nine Months Ended January 30, 2021 February 1, 2020 January 30, 2021 February 1, 2020 (Dollars in Millions) (13 Weeks) (14 Weeks) (39 Weeks) (40 Weeks) Currency Translation Adjustments: Balance at Beginning of Period $ (4.2 ) $ (18.0 ) $ (25.9 ) $ (13.6 ) Other Comprehensive Income (Loss) Recognized During the Period, Net of Tax Expense of $0.3 million; $—; $0.6 million; $— 18.2 1.6 39.9 (2.8 ) Balance at End of Period 14.0 (16.4 ) 14.0 (16.4 ) Derivative Instruments: Balance at Beginning of Period (3.7 ) — (1.0 ) — Other Comprehensive Loss Recognized During the Period, Net of Tax Benefit of $0.6 million; $—; $1.5 million; $— (2.1 ) — (4.8 ) — Balance at End of Period (5.8 ) — (5.8 ) — Accumulated Other Comprehensive Income (Loss), End of Period $ 8.2 $ (16.4 ) $ 8.2 $ (16.4 )
Summary of Stock-based Compensation Expense Related to Equity Awards	The following table summarizes the stock-based compensation expense related to the equity awards: Three Months Ended Nine Months Ended January 30, 2021 February 1, 2020 January 30, 2021 February 1, 2020 (Dollars in Millions) (13 Weeks) (14 Weeks) (39 Weeks) (40 Weeks) PSAs $ — $ 1.3 $ — $ 3.6 RSUs 2.4 0.3 3.4 1.1 Director Awards — — 0.9 0.9 Total Stock-based Compensation Expense $ 2.4 $ 1.6 $ 4.3 $ 5.6
2014 Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of RSA and RSU Activity	The following table summarizes RSU activity under the 2014 Plan: RSU Shares Wtd. Avg. Grant Date Fair Value Non-vested at May 2, 2020 3,100 $ 41.20 Awarded 938,300 $ 28.30 Vested — $ — Forfeited — $ — Non-vested at January 30, 2021 941,400 $ 28.34
2010 Plan and 2007 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Summary of combined stock option activity and related information for stock options granted	The following table summarizes combined stock option activity under the 2010 Plan and 2007 Plan: Shares Wtd. Avg. Exercise Price Outstanding and Exercisable at May 2, 2020 106,668 $ 35.76 Exercised (5,000 ) $ 10.55 Forfeited (1,668 ) $ 37.01 Outstanding and Exercisable at January 30, 2021 100,000 $ 37.01

Income per Share (Tables)

Income per Share (Tables)	9 Months Ended
	Jan. 30, 2021
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Income per Share	The following table sets forth the computation of basic and diluted income per share: Three Months Ended Nine Months Ended January 30, 2021 February 1, 2020 January 30, 2021 February 1, 2020 (13 Weeks) (14 Weeks) (39 Weeks) (40 Weeks) Numerator: Net Income (in millions) $ 31.9 $ 41.2 $ 91.2 $ 93.3 Denominator: Denominator for Basic Income per Share-Weighted Average Shares Outstanding and Vested/Unissued RSUs 38,106,793 37,587,742 38,016,711 37,570,423 Dilutive Potential Common Shares-Employee Stock Options, PSAs and RSUs 293,303 166,229 211,974 150,093 Denominator for Diluted Income per Share 38,400,096 37,753,971 38,228,685 37,720,516 Basic and Diluted Income per Share: Basic Income per Share $ 0.84 $ 1.10 $ 2.40 $ 2.48 Diluted Income per Share $ 0.83 $ 1.09 $ 2.39 $ 2.47 Number of Anti-dilutive Potentially Issuable Shares Excluded from Diluted Common Shares Outstanding 917,000 646,075 678,556 721,604

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Jan. 30, 2021
Segment Reporting [Abstract]
Schedule of Reportable Segments	The tables below present information about the Company's reportable segments: Three Months Ended January 30, 2021 (13 Weeks) (Dollars in Millions) Automotive Industrial Interface Medical Eliminations /Corporate Consolidated Net Sales $ 211.7 $ 68.3 $ 17.6 $ 0.7 $ (3.0 ) $ 295.3 Transfers between Segments (1.2 ) (1.8 ) — — 3.0 — Net Sales to Unaffiliated Customers $ 210.5 $ 66.5 $ 17.6 $ 0.7 $ — $ 295.3 Income (Loss) from Operations $ 29.6 $ 16.9 $ 3.2 $ (1.0 ) $ (13.3 ) $ 35.4 Interest Expense, Net 1.3 Other Income, Net (2.4 ) Income before Income Taxes $ 36.5 Three Months Ended February 1, 2020 (14 Weeks) (Dollars in Millions) Automotive Industrial Interface Medical Eliminations /Corporate Consolidated Net Sales $ 211.5 $ 60.8 $ 14.9 $ 0.6 $ (1.9 ) $ 285.9 Transfers between Segments (1.2 ) (0.7 ) — — 1.9 — Net Sales to Unaffiliated Customers $ 210.3 $ 60.1 $ 14.9 $ 0.6 $ — $ 285.9 Income (Loss) from Operations $ 39.2 $ 13.2 $ 0.7 $ (1.6 ) $ (10.0 ) $ 41.5 Interest Expense, Net 2.4 Other Income, Net (4.9 ) Income before Income Taxes $ 44.0 Nine Months Ended January 30, 2021 (39 Weeks) (Dollars in Millions) Automotive Industrial Interface Medical Eliminations /Corporate Consolidated Net Sales $ 555.0 $ 190.2 $ 47.4 $ 1.9 $ (7.5 ) $ 787.0 Transfers between Segments (3.7 ) (3.8 ) — — 7.5 — Net Sales to Unaffiliated Customers $ 551.3 $ 186.4 $ 47.4 $ 1.9 $ — $ 787.0 Income (Loss) from Operations $ 83.7 $ 40.0 $ 7.4 $ (4.1 ) $ (32.8 ) $ 94.2 Interest Expense, Net 4.3 Other Income, Net (8.4 ) Income before Income Taxes $ 98.3 Nine Months Ended February 1, 2020 (40 Weeks) (Dollars in Millions) Automotive Industrial Interface Medical Eliminations /Corporate Consolidated Net Sales $ 580.3 $ 197.8 $ 39.8 $ 1.2 $ (5.8 ) $ 813.3 Transfers between Segments (3.7 ) (2.0 ) (0.1 ) — 5.8 — Net Sales to Unaffiliated Customers $ 576.6 $ 195.8 $ 39.7 $ 1.2 $ — $ 813.3 Income (Loss) from Operations $ 101.2 $ 44.8 $ 0.7 $ (4.9 ) $ (31.0 ) $ 110.8 Interest Expense, Net 8.0 Other Income, Net (5.8 ) Income before Income Taxes $ 108.6 (Dollars in Millions) January 30, 2021 May 2, 2020 Identifiable Assets: Automotive $ 797.1 $ 670.9 Industrial 452.6 421.8 Interface 67.3 71.0 Medical 7.4 8.8 Eliminations/Corporate 120.1 198.1 Total Identifiable Assets $ 1,444.5 $ 1,370.6

Description of Business and S_3

Description of Business and Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Jan. 30, 2021	Feb. 01, 2020
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Fiscal period duration	91 days	98 days	273 days	280 days
Covid19
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Other Income	$ 2.7		$ 8.9

Description of Business and S_4

Description of Business and Summary of Significant Accounting Policies - Recently Adopted Accounting Pronouncements Costs (Details) - USD ($) $ in Millions	Jan. 30, 2021	May 02, 2020
Accounting Standards Update 2016-02
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Allowance for Doubtful Accounts	$ 0.8	$ 0.6

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Jan. 30, 2021	Feb. 01, 2020	Feb. 01, 2020
Disaggregation of Revenue [Line Items]
Net Sales	$ 295.3	$ 285.9	$ 787	$ 813.3	$ 813.3
Goods Transferred at a Point in Time
Disaggregation of Revenue [Line Items]
Net Sales	283.7	274.2	761.4		783
Goods Transferred Over Time
Disaggregation of Revenue [Line Items]
Net Sales	11.6	11.7	25.6		30.3
Auto
Disaggregation of Revenue [Line Items]
Net Sales	210.5	210.3	551.3		576.6
Auto | Goods Transferred at a Point in Time
Disaggregation of Revenue [Line Items]
Net Sales	198.9	198.6	525.7		546.3
Auto | Goods Transferred Over Time
Disaggregation of Revenue [Line Items]
Net Sales	11.6	11.7	25.6		30.3
Auto
Disaggregation of Revenue [Line Items]
Net Sales	66.5	60.1	186.4		195.8
Auto | Goods Transferred at a Point in Time
Disaggregation of Revenue [Line Items]
Net Sales	66.5	60.1	186.4		195.8
Auto
Disaggregation of Revenue [Line Items]
Net Sales	17.6	14.9	47.4		39.7
Auto | Goods Transferred at a Point in Time
Disaggregation of Revenue [Line Items]
Net Sales	17.6	14.9	47.4		39.7
Auto
Disaggregation of Revenue [Line Items]
Net Sales	0.7	0.6	1.9		1.2
Auto | Goods Transferred at a Point in Time
Disaggregation of Revenue [Line Items]
Net Sales	0.7	0.6	1.9		1.2
North America
Disaggregation of Revenue [Line Items]
Net Sales	162.4	183.9	449.5		531.9
North America | Auto
Disaggregation of Revenue [Line Items]
Net Sales	107.7	130.3	301.8		358.6
North America | Auto
Disaggregation of Revenue [Line Items]
Net Sales	36.6	38.4	99		133.2
North America | Auto
Disaggregation of Revenue [Line Items]
Net Sales	17.4	14.6	46.8		38.9
North America | Auto
Disaggregation of Revenue [Line Items]
Net Sales	0.7	0.6	1.9		1.2
Europe & Africa
Disaggregation of Revenue [Line Items]
Net Sales	78.1	69.5	194.6		195.8
Europe & Africa | Auto
Disaggregation of Revenue [Line Items]
Net Sales	60.1	57.2	147.1		158.9
Europe & Africa | Auto
Disaggregation of Revenue [Line Items]
Net Sales	18	12.2	47.5		36.6
Europe & Africa | Auto
Disaggregation of Revenue [Line Items]
Net Sales		0.1			0.3
Asia
Disaggregation of Revenue [Line Items]
Net Sales	54.8	32.5	142.9		85.6
Asia | Auto
Disaggregation of Revenue [Line Items]
Net Sales	42.7	22.8	102.4		59.1
Asia | Auto
Disaggregation of Revenue [Line Items]
Net Sales	11.9	9.5	39.9		26
Asia | Auto
Disaggregation of Revenue [Line Items]
Net Sales	$ 0.2	$ 0.2	$ 0.6		$ 0.5

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	Jan. 30, 2021	Jan. 30, 2021	May 02, 2020	Feb. 01, 2020	Jan. 30, 2021	Feb. 01, 2020
Restructuring Cost And Reserve [Line Items]
Restructuring Costs	$ 1.4	$ 0.7	$ 0.2	$ 1.1	$ 8.3	$ 1.6
Expected Additional Restructuring Costs	$ 0.2	0.2			0.2
Selling and Administrative Expenses [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring Costs		0.3			3.3
Cost of Products Sold [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring Costs		$ 0.4			$ 5

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Activity (Details) - USD ($) $ in Millions	Jan. 30, 2021	Jan. 30, 2021	May 02, 2020	Feb. 01, 2020	Jan. 30, 2021	Feb. 01, 2020
Restructuring Cost And Reserve [Line Items]
Restructuring Costs	$ 1.4	$ 0.7	$ 0.2	$ 1.1	$ 8.3	$ 1.6
Cash [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring Costs					(6.5)
Non Cash [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring Costs					(0.6)
Employee Termination Benefits [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring Costs	0.8		$ 0.2		7.1
Employee Termination Benefits [Member] | Cash [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring Costs					(6.5)
Asset Impairment Charges [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring Costs					0.6
Asset Impairment Charges [Member] | Non Cash [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring Costs					(0.6)
Contract Termination [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring Costs	$ 0.6				$ 0.6

Restructuring - Schedule of R_2

Restructuring - Schedule of Restructuring Costs by Reportable Segment (Details) - USD ($) $ in Millions	Jan. 30, 2021	Jan. 30, 2021	May 02, 2020	Feb. 01, 2020	Jan. 30, 2021	Feb. 01, 2020
Restructuring Cost And Reserve [Line Items]
Restructuring Costs	$ 1.4	$ 0.7	$ 0.2	$ 1.1	$ 8.3	$ 1.6
Auto
Restructuring Cost And Reserve [Line Items]
Restructuring Costs		0.5		0.5	6.4	0.7
Auto
Restructuring Cost And Reserve [Line Items]
Restructuring Costs				0.2	0.9	0.4
Auto
Restructuring Cost And Reserve [Line Items]
Restructuring Costs					0.7
Auto
Restructuring Cost And Reserve [Line Items]
Restructuring Costs						0.1
Eliminations/Corporate [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring Costs		$ 0.2		$ 0.4	$ 0.3	$ 0.4

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		9 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Jan. 30, 2021	Feb. 01, 2020	Feb. 01, 2020
Income Tax Disclosure [Abstract]
Income before Income Taxes	$ 36.5	$ 44	$ 98.3		$ 108.6
Income Tax Expense	$ 4.6	$ 2.8	$ 7.1	$ 15.3	$ 15.3
Effective Tax Rate	12.60%	6.40%	7.20%		14.10%

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($) $ in Millions	Jan. 30, 2021	May 02, 2020
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 5.2	$ 5.2

Balance Sheet Components - Summ

Balance Sheet Components - Summary of Inventories (Details) - USD ($) $ in Millions	Jan. 30, 2021	May 02, 2020
Inventory Net Items Net Of Reserve Alternative [Abstract]
Finished Products	$ 25	$ 45.7
Work in Process	12.9	10.8
Raw Materials	86.1	74.5
Total Inventories	$ 124	$ 131

Balance Sheet Components - Prop

Balance Sheet Components - Property, Plant and Equipment - Narrative (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Jan. 30, 2021	May 02, 2020	Feb. 01, 2020	Jan. 30, 2021	Feb. 01, 2020
Property Plant And Equipment [Line Items]
Depreciation	$ 8.7		$ 7.5	$ 23.7	$ 21.7
Capital expenditures recorded in accounts payable		$ 5.8		$ 1.1
Minimum | Buildings and Building Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life				5 years
Minimum | Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life				3 years
Maximum | Buildings and Building Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life				40 years
Maximum | Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, useful life				15 years

Balance Sheet Components - Pr_2

Balance Sheet Components - Property, Plant and Equipment (Details) - USD ($) $ in Millions	Jan. 30, 2021	May 02, 2020
Property Plant And Equipment [Line Items]
Total Property, Plant and Equipment, Gross	$ 528.5	$ 502.9
Less: Accumulated Depreciation	(323.1)	(301)
Property, Plant and Equipment, Net	205.4	201.9
Land
Property Plant And Equipment [Line Items]
Total Property, Plant and Equipment, Gross	3.4	3.3
Buildings and Building Improvements
Property Plant And Equipment [Line Items]
Total Property, Plant and Equipment, Gross	84.5	87.3
Machinery and Equipment
Property Plant And Equipment [Line Items]
Total Property, Plant and Equipment, Gross	$ 440.6	$ 412.3

Balance Sheet Components - Pre-

Balance Sheet Components - Pre-production Tooling Costs Related to Long-term Supply Arrangements - Narrative (Details) - USD ($) $ in Millions	Jan. 30, 2021	May 02, 2020
Preproduction Tooling Costs Relatedto Longterm Supply Arrangements [Abstract]
Pre-production Costs	$ 22.6	$ 37.1
Preproduction costs related to long-term supply arrangements, asset for molds dies and tools owned	$ 16.3	$ 19

Balance Sheet Components - Deri

Balance Sheet Components - Derivative Instruments - Narrative (Details) - Cross-Currency Swap [Member] € in Millions, $ in Millions	Apr. 14, 2020USD ($)	Jan. 30, 2021USD ($)	May 02, 2020USD ($)	Apr. 14, 2020EUR (€)
Derivative [Line Items]
Derivative, maturity date	Aug. 31, 2023
Derivative, notional amount	$ 60			€ 54.8
Other long-term liabilities, fair value		$ 7.5	$ 1.3

Balance Sheet Components - De_2

Balance Sheet Components - Derivatives Not Designated as Hedges - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Jan. 30, 2021USD ($)	Jan. 30, 2021USD ($)
Derivative [Line Items]
Foreign Currency Contract, Asset, Fair Value Disclosure	$ 0.2	$ 0.2
Gain (Loss) on Foreign Currency Derivatives Recorded in Earnings, Net	0.2	0.2
Foreign Exchange Forward
Derivative [Line Items]
Derivative, notional amount	$ 21.9	$ 21.9

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	9 Months Ended
	Jan. 30, 2021USD ($)
Goodwill [Line Items]
Beginning balance	$ 231.6
Foreign Currency Translation	3.2
Ending balance	234.8
Auto
Goodwill [Line Items]
Beginning balance	106.2
Foreign Currency Translation	0.6
Ending balance	106.8
Auto
Goodwill [Line Items]
Beginning balance	125.4
Foreign Currency Translation	2.6
Ending balance	$ 128

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Schedule of Other Intangible Assets, Net (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Jan. 30, 2021	May 02, 2020
Finite-lived Intangible Assets [Roll Forward]
Gross	$ 322.8	$ 318.8
Accumulated Amortization	(90.9)	(75.8)
Net / Total	231.9	243
Gross	1.8	1.8
Net	1.8	1.8
Other intangible assets, gross	324.6	320.6
Other intangible assets, accumulated amortization	(90.9)	(75.8)
Other intangible assets, net	233.7	244.8
Trade Names, Patents and Technology Licenses
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	246.7	243.5
Accumulated Amortization	(51.2)	(40.8)
Net / Total	$ 195.5	$ 202.7
Wtd. Avg. Remaining Amortization Periods (Years)	15 years 9 months 18 days	16 years 6 months
Trade Names, Patents and Technology Licenses
Finite-lived Intangible Assets [Roll Forward]
Gross	$ 76.1	$ 75.3
Accumulated Amortization	(39.7)	(35)
Net / Total	$ 36.4	$ 40.3
Wtd. Avg. Remaining Amortization Periods (Years)	7 years 2 months 12 days	7 years 9 months 18 days

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Schedule of Estimated Aggregate Amortization Expense of Intangible Assets (Details) - USD ($) $ in Millions	Jan. 30, 2021	May 02, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Remainder of 2021	$ 4.8
2022	19.2
2023	19.1
2024	18.7
2025	18.2
Thereafter	151.9
Net / Total	$ 231.9	$ 243

Debt - Summary of Debt (Details

Debt - Summary of Debt (Details) - USD ($) $ in Millions	Jan. 30, 2021	May 02, 2020
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs	$ (1.7)	$ (2.2)
Total Debt	244.6	352.1
Less: Current Maturities	(15.4)	(15.3)
Long-term Debt	229.2	336.8
Line of credit | Revolving Credit Facility
Debt Instrument [Line Items]
Debt	9.7	108.5
Term loan
Debt Instrument [Line Items]
Debt	221.9	231.2
Other Debt
Debt Instrument [Line Items]
Debt	14.7	$ 14.6
Less: Current Maturities	$ (2.9)

Debt - Revolving Credit Facilit

Debt - Revolving Credit Facility/Term Loan (Details) - Bank of America, N.A., and Wells Fargo Bank, N.A. [Member] - Revolving Credit Facility	9 Months Ended
	Jan. 30, 2021USD ($)
Debt Instrument [Line Items]
Credit Agreement terminates	2023-09
Borrowing capacity, increase limit	$ 200,000,000
Interest rate (as a percent)	1.63%
Line of credit
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 200,000,000
Term loan
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 250,000,000
Periodic payment, principal, proportion of total borrowing (as a percent)	1.25%
Periodic payment, principal	$ 3,100,000

Debt - Other Debt (Details)

Debt - Other Debt (Details) $ in Millions	9 Months Ended
	Jan. 30, 2021USD ($)note	May 02, 2020USD ($)
Debt Instrument [Line Items]
Debt, short-term	$ 15.4	$ 15.3
Other Debt
Debt Instrument [Line Items]
Number of notes | note	14
Weighted-average interest rate (as a percent)	1.47%
Debt, short-term	$ 2.9

Shareholders' Equity - Dividend

Shareholders' Equity - Dividends (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Jan. 30, 2021	Feb. 01, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cash Dividends	$ (4.1)	$ (4)	$ (13.2)	$ (12.2)
RSAs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Cash Dividends			$ (0.9)

Shareholders' Equity - Summary

Shareholders' Equity - Summary of Changes in Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Jan. 30, 2021	Feb. 01, 2020	May 02, 2020
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	$ 851.4	$ 732.6	$ 783.4	$ 689.7
Ending balance	897.6	772.9	897.6	772.9
Accumulated Other Comprehensive Income (Loss)	8.2	(16.4)	8.2	(16.4)	$ (26.9)
Currency Translation Adjustments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(4.2)	(18)	(25.9)	(13.6)
Other Comprehensive Income (Loss) Recognized During the Period, Net of Tax Benefit	18.2	1.6	39.9	(2.8)
Ending balance	14	$ (16.4)	14	$ (16.4)
Derivative Instruments
Accumulated Other Comprehensive Income Loss [Line Items]
Beginning balance	(3.7)		(1)
Other Comprehensive Income (Loss) Recognized During the Period, Net of Tax Benefit	(2.1)		(4.8)
Ending balance	$ (5.8)		$ (5.8)

Shareholders' Equity - General

Shareholders' Equity - General (Details) - 2014 Incentive Plan	Jan. 30, 2021shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	3,000,000
Number of shares available for award (in shares)	196,288

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Jan. 30, 2021USD ($)shares	Jan. 30, 2021USD ($)shares
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Stock-based compensation expense | $	$ 0	$ 0
PSAs
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Shares granted in period (in shares)	917,000
Additional stock issuable, shares	458,500	458,500
RSUs
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Shares granted in period (in shares)	938,300
Deferred R S Us	577,055	577,055
Minimum | PSAs
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting percentage	0.00%
Maximum | PSAs
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting percentage	100.00%
Maximum | RSUs
Schedule Of Share Based Compensation Arrangements By Share Based Payment Award [Table]
Vesting period	5 years

Shareholders' Equity - Summar_2

Shareholders' Equity - Summary of Restricted Stock Awards and Restricted Stock Units Activity (Details) - RSUs - 2014 Incentive Plan	9 Months Ended
	Jan. 30, 2021$ / sharesshares
Shares
Non-vested and unissued, beginning balance (in shares) | shares	3,100
Awarded (in shares) | shares	938,300
Non-vested and unissued, ending balance (in shares) | shares	941,400
Wtd. Avg. Grant Date Fair Value
Non-vested and unissued, beginning balance (in dollars per share) | $ / shares	$ 41.20
Weighted average value, awarded (in dollars per share) | $ / shares	28.30
Non-vested and unissued, ending balance (in dollars per share) | $ / shares	$ 28.34

Shareholders' Equity -Director

Shareholders' Equity -Director Awards (Details) - shares	9 Months Ended
	Jan. 30, 2021	Feb. 01, 2020
Director | RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted in period (in shares)	33,000	30,000

Shareholders' Equity - Summar_3

Shareholders' Equity - Summary of Combined Stock Option Activity and Related Information for Stock Options Granted (Details) - Stock Options - 2010 Plan and 2007 Plan	9 Months Ended
	Jan. 30, 2021$ / sharesshares
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding [Roll Forward]
Outstanding - beginning balance (in shares) | shares	106,668
Exercised (in shares) | shares	(5,000)
Cancelled (in shares) | shares	(1,668)
Outstanding - ending balance (in shares) | shares	100,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Wtd. Avg. Exercise Price, Outstanding - beginning balance (in dollars per share) | $ / shares	$ 35.76
Wtd. Avg. Exercise Price, Exercised (in dollars per share) | $ / shares	10.55
Wtd. Avg. Exercise Price, Cancelled (in dollars per share) | $ / shares	37.01
Wtd. Avg. Exercise Price, Outstanding - ending balance (in dollars per share) | $ / shares	$ 37.01

Shareholders' Equity - Stock-ba

Shareholders' Equity - Stock-based Compensation Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Jan. 30, 2021	Feb. 01, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 0		$ 0
2014 Incentive Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	2.4	$ 1.6	4.3	$ 5.6
2014 Incentive Plan | PSAs | Executives and non-executive members of management
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense		1.3		3.6
2014 Incentive Plan | RSUs | Executives and non-executive members of management
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 2.4	$ 0.3	3.4	1.1
2014 Incentive Plan | RSAs | Director
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense			$ 0.9	$ 0.9

Income per Share - Schedule of

Income per Share - Schedule of Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Jan. 30, 2021	Feb. 01, 2020	Feb. 01, 2020
Earnings Per Share [Abstract]
Net Income	$ 31.9	$ 41.2	$ 91.2	$ 93.3	$ 93.3
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Denominator for Basic Income per Share-Weighted Average Shares Outstanding and Vested/Unissued RSUs	38,106,793	37,587,742	38,016,711		37,570,423
Dilutive Potential Common Shares-Employee Stock Options, PSAs and RSUs	293,303	166,229	211,974		150,093
Denominator for Diluted Income per Share	38,400,096	37,753,971	38,228,685		37,720,516
Basic and Diluted Income per Share:
Basic Income per Share (in dollars per share)	$ 0.84	$ 1.10	$ 2.40	$ 2.48	$ 2.48
Diluted Income per Share (in dollars per share)	$ 0.83	$ 1.09	$ 2.39	$ 2.47	$ 2.47
Number of Anti-dilutive Potentially Issuable Shares Excluded from Diluted Common Shares Outstanding	917,000	646,075	678,556		721,604

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jan. 30, 2021	Feb. 01, 2020	Jan. 30, 2021	Feb. 01, 2020	Feb. 01, 2020	May 02, 2020
Segment Reporting Information [Line Items]
Net Sales	$ 295.3	$ 285.9	$ 787	$ 813.3	$ 813.3
Income (Loss) from Operations	35.4	41.5	94.2	110.8	110.8
Interest Expense, Net	1.3	2.4	4.3	8	8
Other Income, Net	(2.4)	(4.9)	(8.4)	(5.8)	(5.8)
Income before Income Taxes	36.5	44	98.3	$ 108.6	108.6
Identifiable Assets	1,444.5		1,444.5			$ 1,370.6
Auto
Segment Reporting Information [Line Items]
Net Sales	210.5	210.3	551.3		576.6
Income (Loss) from Operations	29.6	39.2	83.7		101.2
Interest Expense, Net	0	0	0		0
Other Income, Net	0	0	0		0
Income before Income Taxes	0	0	0		0
Identifiable Assets	797.1		797.1			670.9
Eliminations/Corporate
Segment Reporting Information [Line Items]
Net Sales	0	0	0		0
Income (Loss) from Operations	(13.3)	(10)	(32.8)		(31)
Interest Expense, Net	0	0	0		0
Other Income, Net	0	0	0		0
Income before Income Taxes	0	0	0		0
Identifiable Assets	120.1		120.1			198.1
Auto
Segment Reporting Information [Line Items]
Net Sales	66.5	60.1	186.4		195.8
Income (Loss) from Operations	16.9	13.2	40		44.8
Interest Expense, Net	0	0	0		0
Other Income, Net	0	0	0		0
Income before Income Taxes	0	0	0		0
Identifiable Assets	452.6		452.6			421.8
Auto
Segment Reporting Information [Line Items]
Net Sales	17.6	14.9	47.4		39.7
Income (Loss) from Operations	3.2	0.7	7.4		0.7
Interest Expense, Net	0	0	0		0
Other Income, Net	0	0	0		0
Income before Income Taxes	0	0	0		0
Identifiable Assets	67.3		67.3			71
Auto
Segment Reporting Information [Line Items]
Net Sales	0.7	0.6	1.9		1.2
Income (Loss) from Operations	(1)	(1.6)	(4.1)		(4.9)
Interest Expense, Net	0	0	0		0
Other Income, Net	0	0	0		0
Income before Income Taxes	0	0	0		0
Identifiable Assets	7.4		7.4			$ 8.8
Operating Segments
Segment Reporting Information [Line Items]
Net Sales	295.3	285.9	787		813.3
Operating Segments | Auto
Segment Reporting Information [Line Items]
Net Sales	211.7	211.5	555		580.3
Operating Segments | Eliminations/Corporate
Segment Reporting Information [Line Items]
Net Sales	(3)	(1.9)	(7.5)		(5.8)
Operating Segments | Auto
Segment Reporting Information [Line Items]
Net Sales	68.3	60.8	190.2		197.8
Operating Segments | Auto
Segment Reporting Information [Line Items]
Net Sales	17.6	14.9	47.4		39.8
Operating Segments | Auto
Segment Reporting Information [Line Items]
Net Sales	0.7	0.6	1.9		1.2
Transfers between Segments
Segment Reporting Information [Line Items]
Net Sales	0	0	0		0
Transfers between Segments | Auto
Segment Reporting Information [Line Items]
Net Sales	(1.2)	(1.2)	(3.7)		(3.7)
Transfers between Segments | Eliminations/Corporate
Segment Reporting Information [Line Items]
Net Sales	3	1.9	7.5		5.8
Transfers between Segments | Auto
Segment Reporting Information [Line Items]
Net Sales	(1.8)	(0.7)	(3.8)		(2)
Transfers between Segments | Auto
Segment Reporting Information [Line Items]
Net Sales	0	0	0		(0.1)
Transfers between Segments | Auto
Segment Reporting Information [Line Items]
Net Sales	$ 0	$ 0	$ 0		$ 0

Contingencies - Narrative (Deta

Contingencies - Narrative (Details) $ in Millions	Mar. 02, 2020USD ($)
Compensatory Damages
Loss Contingencies [Line Items]
Gain Contingency, Unrecorded Amount	$ 102
Punitive Damages
Loss Contingencies [Line Items]
Gain Contingency, Unrecorded Amount	$ 11