Acquisitions and Divestitures (Tables)

12 Months Ended

Jun. 01, 2013

The valuation process is not complete and the final determination of the fair values may result in further adjustments to the values presented below:



Assets Acquired and Liabilities Assumed on April 29, 2013
(In millions)	Fair Value
Purchase price	$	155.8
Fair value of the assets acquired
Accounts receivable	11.1
Inventory	14.1
Other current assets	4.4
Investments in nonconsolidated affiliates	4.3
Other intangible assets	42.4
Goodwill	80.7
Property	12.1
Long term deferred tax asset	1.6
Other assets	0.2
Total assets acquired	170.9
Fair value of liabilities assumed
Accounts payable	6.5
Current deferred tax liabilities	1.6
Accrued compensation and benefits	4.7
Other accrued liabilities	1.0
Other long term liabilities	1.3
Total liabilities assumed	15.1
Net assets acquired	$	155.8

The goodwill amounts allocated to the reportable segments were as follows:



Goodwill Segment Allocation as of April 29, 2013
(In millions)	Fair Value
North American Furniture Solutions	$	31.9
Specialty and Consumer	48.8
Total Goodwill	$	80.7

These amounts are reflected in the values presented in the table below:



Intangible Assets Acquired on April 29, 2013
(In millions)	Fair Value		Useful Life
Trade name	$	23.0	Indefinite
Designs and patterns	3.1		5
Specifier and customer relationships	16.0		20
Non-compete agreements	0.3		2
Total Intangibles Acquired	$	42.4

Included in the results from Maharam was an increase in cost of sales of $0.7 million related to the fair value step-up of inventories acquired.



Maharam Results of Operations
(In millions)	April 29, 2013 - June 1, 2013
Net sales	10.6
Net loss	(0.1	)