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Acquisitions and Divestitures (Tables) | 12 Months Ended
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May. 30, 2015
Business Acquisition |
Schedule of Business Acquisitions, by Acquisition | The following table summarizes the fair values of the assets acquired and the liabilities assumed from the acquisition. DWR acquisition-related expenses were $2.2 million during fiscal year 2015. These expenses included legal and professional services fees.
Assets Acquired and Liabilities Assumed on July 28, 2014 |  |
(In millions) | At acquisition date - reported as of August 30, 2014 | Measurement Period Adjustments | At acquisition date - reported as of May 30, 2015
Purchase price | $ | 155.0 |  | $ | 0.2 |  | $ | 155.2 |
Fair value of the assets acquired: |  |  |
Cash | 1.2 |  | — |  | 1.2 |
Accounts receivable | 2.4 |  | (0.2 | ) | 2.2 |
Inventory | 47.4 |  | — |  | 47.4 |
Current deferred tax asset | — |  | 1.5 |  | 1.5 |
Other current assets | 5.5 |  | — |  | 5.5 |
Long term deferred tax asset | 3.7 |  | (3.7 | ) | — |
Goodwill | 74.4 |  | 1.2 |  | 75.6 |
Other intangible assets | 69.6 |  | (1.1 | ) | 68.5 |
Property | 32.0 |  | — |  | 32.0 |
Other long term assets | 2.4 |  | — |  | 2.4 |
Total assets acquired | 238.6 |  | (2.3 | ) | 236.3 |
Fair value of liabilities assumed: |  |  |
Accounts payable | 20.8 |  | — |  | 20.8 |
Current deferred tax liabilities | 0.6 |  | (0.6 | ) | — |
Accrued compensation and benefits | 1.6 |  | — |  | 1.6 |
Other accrued liabilities | 12.3 |  | — |  | 12.3 |
Long term deferred tax liability | 16.4 |  | (1.9 | ) | 14.5 |
Other long term liabilities | 0.4 |  | — |  | 0.4 |
Total liabilities assumed | 52.1 |  | (2.5 | ) | 49.6 |
Redeemable noncontrolling interests | 25.7 |  | — |  | 25.7 |
Noncontrolling interests | 5.8 |  | — |  | 5.8 |
Net assets acquired | $ | 155.0 |  | $ | 0.2 |  | $ | 155.2 |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination | Other intangible assets acquired as a result of the acquisition of DWR were valued at $68.5 million. These amounts are reflected in the values presented in the following table:
Intangible Assets Acquired from the DWR Acquisition |
(In millions) | Fair Value | Useful Life
Trade Names and Trademarks | $ | 55.1 |  | Indefinite
Exclusive Distribution Agreements | 0.2 |  | 1.5 years
Customer Relationships | 12.0 |  | 10 - 16 years
Product Development Designs | 1.2 |  | 7 years
Total Intangible Assets Acquired | $ | 68.5 |  |
Business Combination Results of Operations of Acquiree [Table Text Block] | The following table provides net sales and results of operations from DWR included in the company’s results since the July 28, 2014 acquisition.
DWR Results of Operations |
(In millions) | July 28, 2014 - May 30, 2015
DWR Net sales | $ | 217.0 |
Intercompany sales elimination | (22.7 | )
Net sales impact to Herman Miller, Inc. | $ | 194.3 |

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