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Derivative Instruments and Hedging Activities (Tables)
6 Months Ended
Oct. 30, 2021
Text Block [Abstract]  
Schedule of Fair Value of Derivative Instruments Classified as Level 2 Within Fair Value Recorded in the Balance Sheet

The fair value of derivative instruments are classified as Level 2 within the fair value hierarchy and are recorded in the balance sheets as follows:

 

 

Asset/(Liability)

 

(in millions)

Financial Statement Caption

October 30, 2021

 

 

May 1, 2021

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

     Net investment hedges

Other long-term liabilities

$

(4.0

)

 

$

(6.8

)

     Interest rate swaps

Other long-term liabilities

$

 

 

$

(0.2

)

     Interest rate swaps

Other long-term assets

$

0.4

 

 

$

 

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

     Foreign currency forward contracts

Other current assets

$

 

 

$

 

Schedule of Derivative Instruments Effect on Other Comprehensive Income (Loss)

Gross amounts recorded in other comprehensive income (loss) were as follows:

 

 

Three Months Ended

 

 

Six Months Ended

 

(in millions)

 

October 30, 2021

 

 

October 31, 2020

 

 

October 30, 2021

 

 

October 31, 2020

 

Net investment hedges

 

$

1.6

 

 

$

1.1

 

 

$

2.8

 

 

$

(3.5

)

Interest rate swaps

 

 

0.7

 

 

 

 

 

 

0.6

 

 

 

 

Total

 

$

2.3

 

 

$

1.1

 

 

$

3.4

 

 

$

(3.5

)