XML 62 R36.htm IDEA: XBRL DOCUMENT
v3.7.0.1

Stock-Based Compensation (Tables) | 12 Months Ended
--- | ---
Jun. 03, 2017
Valuation and Qualifying Accounts Disclosure |
Schedule of Pre-Tax Compensation Expense and Related Tax Benefits | Pre-tax compensation expense and the related income tax benefit for all types of stock-based programs was as follows for the periods indicated:
(In millions) |  | June 3, 2017 |  | May 28, 2016 |  | May 30, 2015
Employee stock purchase program |  | $ | 0.3 |  |  | $ | 0.3 |  |  | $ | 0.3 |
Stock option plans |  | 2.0 |  |  | 1.9 |  |  | 2.6 |
Restricted stock grants |  | — |  |  | — |  |  | 0.1 |
Restricted stock units |  | 3.6 |  |  | 3.2 |  |  | 3.7 |
Performance share units |  | 2.8 |  |  | 6.5 |  |  | 3.3 |
Total |  | $ | 8.7 |  |  | $ | 11.9 |  |  | $ | 10.0 |
Tax benefit |  | $ | 3.1 |  |  | $ | 4.3 |  |  | $ | 3.6 |
Schedule of Fair Value of Employee Stock Options | In determining these values, the following weighted-average assumptions were used for the options granted during the fiscal years indicated.
| 2017 |  | 2016 |  | 2015
Risk-free interest rates (1) | 1.01 | % |  | 1.51 | % |  | 1.46 | %
Expected term of options (2) | 4.0 years |  |  | 4.0 years |  |  | 4.0 years |
Expected volatility (3) | 26 | % |  | 33 | % |  | 36 | %
Dividend yield (4) | 2.13 | % |  | 2.03 | % |  | 1.85 | %
Weighted-average grant-date fair value of stock options: |  |  |  |  |
Granted with exercise prices equal to the fair market value of the stock on the date of grant | $ | 5.50 |  |  | $ | 6.73 |  |  | $ | 7.74 |
Schedule of Stock Option Plan Transactions | The following is a summary of the transactions under the company's stock option plans:
|  | Shares Under Option |  | Weighted-Average Exercise Prices |  | Weighted-Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (In millions)
Outstanding at May 28, 2016 |  | 921,380 |  |  | $ | 25.80 |  |  | 4.20 |  | $ | 5.5 |
Granted at market |  | 745,141 |  |  | $ | 31.86 |  |  |  |  |
Exercised |  | (327,299 | ) |  | $ | 28.84 |  |  |  |  |
Forfeited or expired |  | (9,520 | ) |  | $ | 38.11 |  |  |  |  |
Outstanding at June 3, 2017 |  | 1,329,702 |  |  | $ | 28.36 |  |  | 7.26 |  | $ | 5.8 |
Ending vested + expected to vest |  | 1,325,647 |  |  | $ | 28.35 |  |  | 7.25 |  | $ | 5.8 |
Exercisable at end of period |  | 498,522 |  |  | $ | 22.95 |  |  | 4.37 |  | $ | 4.9 |
Schedule of Restricted Stock Grants | The company recognizes the related compensation expense on a straight-line basis over the requisite service period. A summary of shares subject to restrictions are as follows:
|  | 2017
|  | Shares |  | Weighted Average Grant-Date Fair Value
Outstanding at May 28, 2016 |  | 20,823 |  |  | $ | 21.35 |
Vested |  | (20,323 | ) |  | $ | 21.38 |
Forfeited |  | (500 | ) |  | $ | 20.17 |
Outstanding at June 3, 2017 |  | — |  |  | $ | — |
Schedule of Restricted Stock Unit (RSU) Activity | The following is a summary of restricted stock unit transactions for the fiscal years indicated:
| Share Units |  | Weighted Average Grant-Date Fair Value |  | Aggregate Intrinsic Value in Millions |  | Weighted-Average Remaining Contractual Term (Years)
Outstanding at May 28, 2016 | 377,861 |  |  | $ | 27.83 |  |  | $ | 12.0 |  |  | 1.40
Granted | 114,778 |  |  | $ | 31.83 |  |  |  |  |
Forfeited | (12,951 | ) |  | $ | 29.25 |  |  |  |  |
Released | (94,736 | ) |  | $ | 28.70 |  |  |  |  |
Outstanding at June 3, 2017 | 384,952 |  |  | $ | 28.73 |  |  | $ | 12.6 |  |  | 1.14
Ending vested + expected to vest | 379,037 |  |  | 29.30 |  |  | $ | 12.4 |  |  | 1.13
Schedule of Performance-based Stock Units (PSU) Activity | The following is a summary of performance share unit transactions for the fiscal years indicated:
| Share Units |  | Weighted Average Grant-Date Fair Value |  | Aggregate Intrinsic Value in Millions |  | Weighted-Average Remaining Contractual Term (Years)
Outstanding at May 28, 2016 | 433,714 |  |  | $ | 31.74 |  |  | $ | 13.7 |  |  | 1.20
Granted | 141,218 |  |  | $ | 29.40 |  |  |  |  |
Forfeited | (43,945 | ) |  | $ | 35.75 |  |  |  |  |
Released | (113,040 | ) |  | $ | 29.34 |  |  |  |  |
Outstanding at June 3, 2017 | 417,947 |  |  | $ | 31.18 |  |  | $ | 13.7 |  |  | 1.03
Ending vested + expected to vest | 413,358 |  |  | $ | 31.23 |  |  | $ | 13.5 |  |  | 1.03
Schedule of Director Share Based Compensation | The exercise price of the stock options granted may not be less than the market price of the company's common stock on the date of grant. Under the plan, the Board members received the following shares or options in the fiscal years indicated:
|  | 2017 |  | 2016 |  | 2015
Shares of common stock |  | 9,982 |  |  | 21,988 |  |  | 13,752 |
Shares through the deferred compensation program |  | 2,582 |  |  | 3,118 |  |  | — |
Herman Miller Consumer Holdings Inc |
Valuation and Qualifying Accounts Disclosure |
Schedule of Fair Value of Employee Stock Options | The following weighted-average assumptions were used to value the liability associated with HMCH stock options as of June 3, 2017 and May 28, 2016.
|  | 2017 |  | 2016
Risk-free interest rates (1) |  | 1.29 | % |  | 1.07 | %
Expected term of options (2) |  | 2.1 years |  |  | 3.1 years |
Expected volatility (3) |  | 35 | % |  | 35 | %
Dividend yield |  | not applicable |  |  | not applicable |
Strike price |  | $ | 24.39 |  |  | 24.39 |
Per share value (4) |  | $ | 3.24 |  |  | 6.52 |
Schedule of Stock Option Plan Transactions |
|  | Shares Under Option |  | Weighted-Average Exercise Prices |  | Weighted-Average Remaining Contractual Term (Years) |  | Aggregate Intrinsic Value (In millions)
Outstanding at May 28, 2016 |  | 500,376 |  |  | $ | 24.07 |  |  | 3.20 |  | $ | 0.4 |
Granted |  | 40,425 |  |  | $ | 24.63 |  |  |  |  |
Exercised |  | (2,957 | ) |  | $ | 6.40 |  |  |  |  |
Forfeited |  | (11,600 | ) |  | $ | 24.39 |  |  |  |  |
Outstanding at June 3, 2017 |  | 526,244 |  |  | $ | 24.20 |  |  | 2.20 |  | $ | 0.1 |
Exercisable at end of period |  | 46,758 |  |  | $ | 22.30 |  |  | 2.20 |  | $ | 0.1 |
The total pre-tax intrinsic value of HMCH options exercised during fiscal 2017 was $0.1 million. The aggregate intrinsic value in the preceding table represents the total pre-tax intrinsic value, based on the HMCH market price, less the strike price, as of the end of the period presented, which would have been received by the option holders had all option holders exercised in-the-money options as of that date.

X
- Definition Tabular disclosure of the amount of total share-based compensation cost, including the amounts attributable to each share-based compensation plan and any related tax benefits. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in outstanding nonvested performance-based units. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfNonvestedPerformanceBasedUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock awards granted to nonemployee directors that were outstanding at the beginning and end of the year, and the number of awards that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (g) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationNonemployeeDirectorStockAwardPlanActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
Name: | us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
Name: | us-gaap_ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_ValuationAndQualifyingAccountsDisclosureLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_AwardTypeAxis=mlhr_HermanMillerConsumerHoldingsIncMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |