XML 45 R2.htm IDEA: XBRL DOCUMENT v3.20.2
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
12 Months Ended
May 30, 2020
Jun. 01, 2019
Jun. 02, 2018
Statement of Comprehensive Income [Abstract]      
Net sales $ 2,486.6 $ 2,567.2 $ 2,381.2
Cost of sales 1,575.9 1,637.3 1,508.2
Gross margin 910.7 929.9 873.0
Operating (loss) earnings      
Selling, general and administrative 643.3 639.3 615.3
Impairment charges 205.4 0.0 0.0
Restructuring expenses 26.4 10.2 5.7
Design and research 74.0 76.9 73.1
Total operating expenses 949.1 726.4 694.1
Operating (loss) earnings (38.4) 203.5 178.9
Gain on consolidation of equity method investments 36.2 0.0 0.0
Interest expense 12.5 12.1 13.5
Interest and other investment income (2.3) (2.1) (4.4)
Other expense (income), net 1.0 (1.6) 1.7
(Loss) Earnings before income taxes and equity income (13.4) 195.1 168.1
Income tax expense 6.0 39.6 42.4
Equity earnings from nonconsolidated affiliates, net of tax 5.0 5.0 3.0
Net (loss) earnings (14.4) 160.5 128.7
Net (loss) earnings attributable to redeemable noncontrolling interests (5.3) 0.0 0.6
Net (loss) earnings attributable to Herman Miller, Inc. $ (9.1) $ 160.5 $ 128.1
(Loss) Earnings per share — basic $ (0.15) $ 2.72 $ 2.15
(Loss) Earnings per share — diluted $ (0.15) $ 2.70 $ 2.12
Other comprehensive income (loss), net of tax:      
Foreign currency translation adjustments $ (7.7) $ (14.2) $ 2.7
Pension and post-retirement liability adjustments (14.2) (7.8) 10.4
Unrealized (losses) gains on interest rate swap agreement (18.0) (12.3) 7.8
Unrealized holding gains on securities 0.1 0.0 0.0
Total other comprehensive (loss) income (39.8) (34.3) 20.9
Comprehensive (loss) income (54.2) 126.2 149.6
Comprehensive (loss) income attributable to redeemable noncontrolling interests (5.3) 0.0 0.6
Comprehensive (loss) income attributable to Herman Miller, Inc. $ (48.9) $ 126.2 $ 149.0