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Consolidated Balance Sheets - USD ($)
$ in Millions
May 30, 2020
Jun. 01, 2019
Current Assets:    
Cash and cash equivalents $ 454.0 $ 159.2
Short-term investments 7.0 8.8
Accounts receivable, net of allowances of $4.7 and $3.8 180.0 218.0
Unbilled accounts receivable 19.5 34.3
Inventories, net 197.3 184.2
Prepaid expenses 43.3 45.8
Other current assets 16.0 11.0
Total current assets 917.1 661.3
Property and equipment, net of accumulated depreciation of $780.5 and $736.1 330.8 348.6
Right of use assets 193.9 0.0
Goodwill 346.0 303.8
Indefinite-lived intangibles 92.8 78.1
Other amortizable intangibles, net of accumulated amortization of $62.7 and $46.2 112.4 41.1
Other noncurrent assets 60.9 136.4
Total Assets 2,053.9 1,569.3
Current Liabilities:    
Accounts payable 128.8 177.7
Short-term borrowings and current portion of long-term debt 51.4 3.1
Accrued compensation and benefits 71.1 85.5
Accrued warranty 59.2 53.1
Customer deposits 39.8 30.7
Other accrued liabilities 163.0 96.0
Total current liabilities 513.3 446.1
Long-term debt 539.9 281.9
Pension and post-retirement benefits 42.4 24.5
Lease liabilities 178.8 0.0
Other liabilities 86.1 77.0
Total Liabilities 1,360.5 829.5
Redeemable noncontrolling interests 50.4 20.6
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, 58,793,275 and 58,794,148 shares issued and outstanding in 2020 and 2019, respectively) 11.8 11.7
Additional paid-in capital 81.6 89.8
Retained earnings 683.9 712.7
Accumulated other comprehensive loss (134.0) (94.2)
Deferred compensation plan (0.3) (0.8)
Herman Miller, Inc. Stockholders' Equity 643.0 719.2
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders' Equity $ 2,053.9 $ 1,569.3