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Consolidated Balance Sheets - USD ($)
$ in Millions
May 29, 2021
May 30, 2020
Current Assets:    
Cash and cash equivalents $ 396.4 $ 454.0
Short-term investments 7.7 7.0
Accounts receivable, net of allowances of $5.5 and $4.7 204.7 180.0
Unbilled accounts receivable 16.4 19.5
Inventories, net 213.6 197.3
Prepaid expenses 45.1 43.3
Other current assets 7.6 16.0
Total current assets 891.5 917.1
Property and equipment, net of accumulated depreciation of $832.5 and $780.5 327.2 330.8
Right of use assets 214.7 193.9
Goodwill 364.2 346.0
Indefinite-lived intangibles 97.6 92.8
Other amortizable intangibles, net of accumulated amortization of $68.6 and $62.7 105.2 112.4
Other noncurrent assets 61.5 60.9
Total Assets 2,061.9 2,053.9
Current Liabilities:    
Accounts payable 178.4 128.8
Short-term borrowings and current portion of long-term debt 2.2 51.4
Accrued compensation and benefits 90.2 71.1
Accrued warranty 14.5 16.1
Customer deposits 43.1 39.8
Other accrued liabilities 172.4 163.0
Total current liabilities 500.8 470.2
Long-term debt 274.9 539.9
Pension and post-retirement benefits 34.5 42.4
Lease liabilities 196.9 178.8
Other liabilities 128.2 129.2
Total Liabilities 1,135.3 1,360.5
Redeemable noncontrolling interests 77.0 50.4
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, 59,029,165 and 58,793,275 shares issued and outstanding in 2021 and 2020, respectively) 11.8 11.8
Additional paid-in capital 94.7 81.6
Retained earnings 808.4 683.9
Accumulated other comprehensive loss (65.1) (134.0)
Deferred compensation plan (0.2) (0.3)
Herman Miller, Inc. Stockholders' Equity 849.6 643.0
Total Liabilities, Redeemable Noncontrolling Interests and Stockholders' Equity $ 2,061.9 $ 2,053.9