Goodwill and Intangible Assets

9 Months Ended

Feb. 01, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Other Intangible Assets

Goodwill

The following table shows goodwill by segment:

(Dollars in Millions)	February 1, 2020		April 27, 2019
Automotive	$	106.3	$	106.3
Industrial	126.9		127.0
Total	$	233.2	$	233.3

Other Intangible Assets, Net

The following tables present details of the Company's identifiable intangible assets:

	February 1, 2020
(Dollars in Millions)	Gross		Accumulated Amortization		Net		Wtd. Avg. Remaining Amortization Periods (Years)
Definite-lived Intangible Assets:
Customer Relationships and Agreements	$	244.8	$	37.6	$	207.2	16.7
Trade Names, Patents and Technology Licenses	75.6		33.6		42.0		8.0
Total Definite-lived Intangible Assets	320.4		71.2		249.2
Indefinite-lived Intangible Assets:
Trade Names, Patents and Technology Licenses	1.8		—		1.8
Total Indefinite-lived Intangible Assets	1.8		—		1.8
Total Intangible Assets	$	322.2	$	71.2	$	251.0

	April 27, 2019
(Dollars in Millions)	Gross		Accumulated Amortization		Net		Wtd. Avg. Remaining Amortization Periods (Years)
Definite-lived Intangible Assets:
Customer Relationships and Agreements	$	244.5	$	27.7	$	216.8	17.4
Trade Names, Patents and Technology Licenses	75.5		29.2		46.3		8.4
Total Definite-lived Intangible Assets	320.0		56.9		263.1
Indefinite-lived Intangible Assets:
Trade Names, Patents and Technology Licenses	1.8		—		1.8
Total Indefinite-lived Intangible Assets	1.8		—		1.8
Total Intangible Assets	$	321.8	$	56.9	$	264.9

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 2020	$	4.8
2021	19.0
2022	19.0
2023	19.0
2024	18.6
Thereafter	168.8
Total	$	249.2