Balance Sheet Components (Tables)

3 Months Ended

Jul. 31, 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:

(in millions)	July 31, 2021		May 1, 2021
Finished products	$	30.7	$	24.8
Work in process		15.6		14.0
Raw materials		96.1		85.4
Total inventories	$	142.4	$	124.2

Summary of Property, Plant and Equipment

A summary of property, plant and equipment is shown below:

(in millions)	July 31, 2021			May 1, 2021
Land	$	3.3		$	3.3
Buildings and building improvements		89.0			88.9
Machinery and equipment		420.3			408.0
Construction in progress		25.6			24.8
Total property, plant and equipment, gross		538.2			525.0
Less: accumulated depreciation		(323.6	)		(321.0	)
Property, plant and equipment, net	$	214.6		$	204.0