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Reportable Segments
 12 Months Ended
Feb. 28, 2025
Segment Reporting [Abstract]  
Reportable Segments REPORTABLE SEGMENTS
The operating segments regularly reviewed by our Chief Executive Officer in the capacity of CODM are (1) the Americas, (2) Europe, the Middle East and Africa ("EMEA") and (3) Asia Pacific. Asia Pacific serves customers in Australia, China, India, Japan, Korea and other countries in Southeast Asia. Our CODM compares budget to actual results and year-over-year variances for revenue, gross profit and operating income (loss) to evaluate the performance of the segments and make decisions regarding the allocation of resources. Total assets by segment include manufacturing and other assets associated with each segment.
For purposes of segment reporting externally, we have aggregated the EMEA and Asia Pacific operating segments as an International segment based upon their similarity in quantitative and qualitative characteristics as defined in the Accounting Standards Codification ("ASC") 280, Segment Reporting. We evaluated the economic similarity of these operating segments including patterns and trends for revenue, gross profit and operating income (loss) in addition to the similarity in the nature of products and services, types of customers, and production and distribution processes in these regions. We concluded that these operating segments met the criteria for aggregation consistent with the basic principles and objectives of segment reporting described in ASC 280.
The Americas segment serves customers in the U.S., Canada, the Caribbean Islands and Latin America with a comprehensive portfolio of furniture, interior architectural, textile and surface imaging products that are marketed to corporate, government, education, healthcare and retail customers primarily through the Steelcase, AMQ, Coalesse, Designtex, HALCON, Orangebox, Smith System and Viccarbe brands.
The International segment serves customers in EMEA and Asia Pacific with a comprehensive portfolio of furniture and interior architectural products that are marketed to corporate, government, education, healthcare and retail customers primarily through the Steelcase, Coalesse, Orangebox, Smith System and Viccarbe brands.
The following table reconciles reportable segment financial data regularly provided to and reviewed by our CODM, including significant segment expenses, to consolidated Income before income tax expense:
Reportable Segment Data
Americas  InternationalConsolidated  
2025
Revenue$2,465.2 $700.8 $3,166.0 
Cost of sales1,608.2 500.9 2,109.1 
Restructuring costs5.8 4.6 10.4 
Gross profit851.2 195.3 1,046.5 
Operating expenses668.0 220.0 888.0 
Restructuring costs0.4 — 0.4 
Operating income (loss)182.8 (24.7)158.1 
Interest expense(25.7)
Investment income13.8 
Other income (expense), net(12.0)
Income before income tax expense134.2 
2024
Revenue$2,419.8 $739.8 $3,159.6 
Cost of sales1,618.5 524.3 2,142.8 
Restructuring costs2.2 2.2 4.4 
Gross profit799.1 213.3 1,012.4 
Operating expenses654.2 222.3 876.5 
Restructuring costs1.1 17.0 18.1 
Operating income (loss)143.8 (26.0)117.8 
Interest expense(25.9)
Investment income6.5 
Other income (expense), net8.7 
Income before income tax expense$107.1 
2023
Revenue$2,436.2 $796.4 $3,232.6 
Cost of sales1,722.1 588.6 2,310.7 
Restructuring costs2.5 — 2.5 
Gross profit711.6 207.8 919.4 
Operating expenses617.5 219.7 837.2 
Restructuring costs16.7 — 16.7 
Operating income (loss)77.4 (11.9)65.5 
Interest expense(28.4)
Investment income1.0 
Other income (expense), net13.5 
Income before income tax expense51.6 
Reportable Segment Data
Americas  InternationalConsolidated  
2025
Total assets1,848.0 482.4 2,330.4 
Capital expenditures34.0 13.1 47.1 
Depreciation and amortization57.6 23.2 80.8 
2024
Total assets1,705.5 531.2 2,236.7 
Capital expenditures34.1 13.0 47.1 
Depreciation and amortization58.5 25.1 83.6 
2023
Total assets1,631.2 571.6 2,202.8 
Capital expenditures41.9 17.2 59.1 
Depreciation and amortization64.6 25.4 90.0 
The accounting policies of each of the reportable segments are the same as those described in Note 2.
Reportable geographic information is as follows:
Reportable Geographic DataYear Ended
February 28,
2025		February 23,
2024		February 24,
2023
Long-lived assets (1):
United States$258.3 $318.0 $358.3 
Foreign locations211.0 203.5 216.5 
$469.3 $521.5 $574.8 
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(1)Long-lived assets include property, plant and equipment and right-of-use operating lease assets.
No country other than the U.S. represented greater than 10% of our long-lived assets in 2025, 2024 or 2023.