XML 23 R2.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
$ in Millions
 3 Months Ended 9 Months Ended
Mar. 04, 2017
Feb. 27, 2016
Mar. 04, 2017
Feb. 27, 2016
Income Statement [Abstract]        
Net sales $ 524.9 $ 536.5 $ 1,701.0 $ 1,682.3
Cost of sales 329.4 328.7 1,057.6 1,033.3
Gross margin 195.5 207.8 643.4 649.0
Operating expenses:        
Selling, general, and administrative 140.4 143.6 443.5 436.4
Restructuring expenses 2.7 0.0 3.7 0.0
Design and research 17.4 19.9 55.2 57.7
Total operating expenses 160.5 163.5 502.4 494.1
Operating earnings 35.0 44.3 141.0 154.9
Other expenses:        
Interest expense 3.8 3.8 11.4 11.6
Other, net (0.8) 0.6 (1.0) 0.7
Earnings before income taxes and equity income 32.0 39.9 130.6 142.6
Income tax expense 9.5 11.9 41.1 46.1
Equity income from nonconsolidated affiliates, net of tax 0.0 0.2 1.1 0.4
Net earnings 22.5 28.2 90.6 96.9
Net earnings attributable to noncontrolling interests 0.0 0.3 0.1 0.8
Net earnings attributable to Herman Miller, Inc. $ 22.5 $ 27.9 $ 90.5 $ 96.1
Earnings per share — basic $ 0.38 $ 0.46 $ 1.51 $ 1.61
Earnings per share — diluted 0.37 0.46 1.50 1.59
Dividends declared, per share $ 0.170 $ 0.148 $ 0.510 $ 0.443
Other comprehensive income (loss), net of tax        
Foreign currency translation adjustments $ (0.4) $ (6.0) $ (10.8) $ (10.5)
Pension and other post-retirement plans 0.5 0.6 2.1 2.0
Interest rate swap agreement 1.1 0.0 5.3 0.0
Unrealized holding gain 0.2 0.0 0.2 0.0
Other comprehensive income (loss) 1.4 (5.4) (3.2) (8.5)
Comprehensive income 23.9 22.8 87.4 88.4
Comprehensive income attributable to noncontrolling interests 0.0 0.3 0.1 0.8
Comprehensive income attributable to Herman Miller, Inc. $ 23.9 $ 22.5 $ 87.3 $ 87.6