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Consolidated Balance Sheets - USD ($)
$ in Millions
May 28, 2016
May 30, 2015
Current Assets:    
Cash and cash equivalents $ 84.9 $ 63.7
Marketable securities 7.5 5.7
Accounts and notes receivable, less allowances of $4.7 in 2016 and $3.8 in 2015 211.0 189.6
Inventories, net 128.2 129.6
Deferred income taxes 0.0 32.0
Prepaid taxes 20.4 10.0
Other 28.5 32.9
Total Current Assets 480.5 463.5
Property and Equipment:    
Land and improvements 24.1 21.4
Buildings and improvements 205.7 188.9
Machinery and equipment 645.3 610.1
Construction in progress 53.9 48.2
Gross Property and Equipment 929.0 868.6
Less: Accumulated depreciation (648.9) (619.1)
Net Property and Equipment 280.1 249.5
Goodwill 305.3 303.1
Indefinite-lived intangibles 85.2 85.2
Other amortizable intangibles, net 50.8 52.3
Other assets 33.3 39.1
Total Assets 1,235.2 1,192.7
Current Liabilities:    
Accounts payable 165.6 164.7
Accrued compensation and benefits 85.2 66.6
Accrued warranty 43.9 39.3
Unearned revenue 35.4 32.0
Other accrued liabilities 59.9 60.8
Total Current Liabilities 390.0 363.4
Long-term debt 221.9 289.8
Pension and post-retirement benefits 25.8 27.8
Other liabilities 45.8 61.0
Total Liabilities 683.5 742.0
Redeemable noncontrolling interests 27.0 30.4
Stockholders' Equity:    
Preferred stock, no par value (10,000,000 shares authorized, none issued) 0.0 0.0
Common stock, $0.20 par value (240,000,000 shares authorized, 59,868,276 and 59,694,611 shares issued and outstanding in 2016 and 2015, respectively) 12.0 11.9
Additional paid-in capital 142.7 135.1
Retained earnings 435.3 330.2
Accumulated other comprehensive loss (64.5) (56.2)
Key executive deferred compensation (1.1) (1.2)
Herman Miller, Inc. Stockholders' Equity 524.4 419.8
Noncontrolling interests 0.3 0.5
Total Stockholders' Equity 524.7 420.3
Total Liabilities, Redeemable Noncontrolling Interests, and Stockholders' Equity $ 1,235.2 $ 1,192.7