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Subsequent Events | 3 Months Ended
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May 27, 2022
Subsequent Events [Abstract] |
Subsequent Events | 13. SUBSEQUENT EVENTS On June 10, 2022, we acquired Halcon Furniture LLC ("Halcon"), a Minnesota-based designer and manufacturer of precision-tailored wood furniture for the workplace. The transaction included the purchase of all the outstanding membership interests of Halcon for $127.5 plus an adjustment of $3.1 for working capital in an all-cash transaction. Up to an additional $9.5 is payable to the seller, contingent upon the achievement of certain performance targets and continued employment of the seller over a specified period. The acquisition was funded using a combination of cash on-hand and borrowings under our global committed bank facility. To fund a portion of the acquisition of Halcon, on June 9, 2022, we borrowed $35.0 under our global committed bank facility subject to an effective interest rate of 2.75%, and on June 10, 2022, we borrowed an additional $33.0 under our global committed bank facility subject to an effective interest rate of 2.32%. We repaid a total of $18.2 related to these borrowings as of June 24, 2022.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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