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Consolidated Balance Sheets (USD $)
In Thousands, unless otherwise specified
Apr. 27, 2013
Apr. 28, 2012
CURRENT ASSETS    
Cash and cash equivalents $ 65,811 $ 86,797
Accounts receivable, less allowance (2013 — $1,022; 2012 —$1,279) 119,816 98,359
Inventories:    
Finished products 11,736 7,001
Work in process 10,220 14,235
Materials 37,973 22,325
Inventories 59,929 43,561
Deferred income taxes 3,313 3,529
Prepaid and refundable income taxes 326 1,015
Prepaid expenses and other current assets 9,459 7,172
TOTAL CURRENT ASSETS 258,654 240,433
PROPERTY, PLANT AND EQUIPMENT    
Land 3,135 3,135
Buildings and building improvements 43,159 44,051
Machinery and equipment 250,961 230,265
PROPERTY, PLANT AND EQUIPMENT - Gross 297,255 277,451
Less allowances for depreciation 198,897 200,299
PROPERTY, PLANT AND EQUIPMENT - Net 98,358 77,152
OTHER ASSETS    
Goodwill 12,907 16,422
Other intangibles, less accumulated amortization 16,466 16,620
Cash surrender value of life insurance 9,351 8,802
Deferred income taxes 14,767 15,072
Pre-production costs 11,511 16,215
Other 12,925 12,932
Total other assets 77,927 86,063
TOTAL ASSETS 434,939 403,648
CURRENT LIABILITIES    
Accounts payable 61,541 54,775
Salaries, wages and payroll taxes 9,673 9,554
Other accrued expenses 14,827 14,964
Deferred income taxes 628 9,131
Income taxes payable 3,802 3,453
TOTAL CURRENT LIABILITIES 90,471 91,877
LONG-TERM DEBT 43,500 48,000
OTHER LIABILITIES 3,294 3,413
DEFERRED COMPENSATION 8,090 4,801
NON-CONTROLLING INTEREST 0 333
SHAREHOLDERS’ EQUITY    
Common stock, $0.50 par value, 100,000,000 shares authorized, 38,455,853 and 38,375,678 shares issued as of April 27, 2013 and April 28, 2012, respectively 19,228 19,188
Additional paid-in capital 81,472 77,652
Accumulated other comprehensive income 15,680 15,573
Treasury stock, 1,342,188 shares as of April 27, 2013 and April 28, 2012 (11,377) (11,377)
Retained earnings 184,368 154,008
TOTAL METHODE ELECTRONICS, INC. SHAREHOLDERS’ EQUITY 289,371 255,044
Noncontrolling interest 213 180
TOTAL EQUITY 289,584 255,224
TOTAL LIABILITIES AND EQUITY $ 434,939 $ 403,648