v3.26.1
Derivative Financial Instruments and Fair Value (Tables)
 12 Months Ended
May 02, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments Effect on Other Comprehensive Income (Loss)

The pre-tax effects of derivative financial instruments recorded in other comprehensive income (loss) were as follows:

 

 

Fiscal Year Ended

 

 

 

May 2, 2026

 

 

May 3, 2025

 

 

April 27, 2024

 

(in millions)

 

(52 Weeks)

 

 

(53 Weeks)

 

 

(52 Weeks)

 

Cross-currency swap

 

$

—

 

 

$

1.8

 

 

$

2.4

 

Interest rate swaps

 

 

4.0

 

 

 

(3.6

)

 

 

(3.7

)

Total

 

$

4.0

 

 

$

(1.8

)

 

$

(1.3

)
Schedule of Fair Value of Derivative Instruments Classified as Level 2 Within Fair Value Recorded in the Consolidated Balance Sheet

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

 

 

 

 

Asset/(Liability)

 

(in millions)

 

Financial Statement Caption

 

May 2, 2026

 

 

May 3, 2025

 

Derivatives designated as hedging instruments:

 

 

 

 

 

 

 

 

Interest rate swaps

 

Other long-term liabilities

 

$

(1.8

)

 

$

(5.7

)

Derivatives not designated as hedging instruments:

 

 

 

 

 

 

 

 

Foreign currency forward contracts

 

Prepaid expenses and other current assets

 

$

0.1

 

 

$

0.7