XML 274 R39.htm IDEA: XBRL DOCUMENT v3.22.2

Income Taxes (Tables)

12 Months Ended

May 28, 2022

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of (loss) earnings before income taxes are as follows:

(In millions)			2022						2021						2020
Domestic			$	(142.4)					$	135.1					$	(75.1)
Foreign			133.8						93.2						62.2
Total			$	(8.6)					$	228.3					$	(12.9)

Schedule of Components of Income Tax Expense (Benefit)

The provision (benefit) for income taxes consists of the following:

(In millions)			2022						2021						2020
Current: Domestic - Federal			$	(3.8)					$	13.2					$	12.0
Domestic - State			0.2						5.2						5.7
Foreign			38.1						22.8						13.3
			34.5						41.2						31.0
Deferred: Domestic - Federal			(12.2)						10.4						(16.7)
Domestic - State			(5.0)						1.4						(3.9)
Foreign			(6.2)						(4.7)						(4.3)
			(23.4)						7.1						(24.9)
Total income tax provision			$	11.1					$	48.3					$	6.1

Effective Income Tax Rate Reconciliation

The following table represents a reconciliation of income taxes at the United States statutory rate of 21% with the effective tax rate as follows:

(In millions)			2022						2021						2020
Income taxes computed at the United States Statutory rate			$	(1.8)					$	47.9					$	(2.7)
Increase (decrease) in taxes resulting from:
State and local income taxes, net of federal income tax benefit			(4.0)						5.6						1.4
Non-deductible goodwill impairment			—						—						17.1
Gain on consolidation of equity method investments			—						—						(5.5)
Non-deductible officers' compensation			5.3						0.5						—
Foreign-derived intangible income			—						(2.1)						(1.4)
Foreign-based company income			3.1						2.1						—
Global intangible low-taxed income			15.2						7.9						5.9
Foreign statutory rate differences			4.1						2.6						0.7
Research and development incentives			(4.8)						(3.2)						(4.4)
Foreign offshore income claim			(0.7)						(0.7)						(1.7)
Foreign tax credit			(8.8)						(10.3)						(5.8)
Foreign withholding taxes and other miscellaneous foreign taxes			2.4						1.0						2.7
Change in valuation allowance against deferred tax assets			0.4						(2.1)						0.4
Other, net			0.7						(0.9)						(0.6)
Income tax expense			$	11.1					$	48.3					$	6.1
Effective tax rate			(130.1)		%				21.2		%				(47.5)		%

Schedule of Deferred Tax Assets and Liabilities

The tax effects and types of temporary differences that give rise to significant components of the deferred tax assets and liabilities at May 28, 2022 and May 29, 2021, are as follows:

(In millions)			2022						2021
Deferred tax assets:
Compensation-related accruals			$	15.3					$	11.1
Accrued pension and post-retirement benefit obligations			7.1						9.2
Deferred revenue			6.9						5.5
Inventory related			10.0						—
Other reserves and accruals			12.3						7.5
Warranty			17.8						14.1
State and local tax net operating loss carryforwards and credits			7.2						1.5
Federal net operating loss carryforward			3.6						1.1
Foreign tax net operating loss carryforwards and credits			15.9						8.9
Accrued step rent and tenant reimbursements			1.0						0.6
Interest rate swap			—						3.5
Lease liability			109.0						57.0
Other			7.0						6.9
Subtotal			213.1						126.9
Valuation allowance			(11.7)						(8.9)
Total			$	201.4					$	118.0
Deferred tax liabilities:
Book basis in property in excess of tax basis			$	72.3					$	38.0
Intangible assets			206.8						46.5
Interest rate swap			8.0						—
Inventory related			—						0.4
Right of use lease assets			100.5						49.1
Withholding taxes on planned repatriation of foreign earnings			8.3						0.7
Other			2.8						2.9
Total			$	398.7					$	137.6

Schedule of Unrecognized Tax Benefits

The components of the Company's unrecognized tax benefits are as follows:

(In millions)
Balance at May 30, 2020			$	1.9
Increases related to current year income tax positions			0.1
Increases related to prior year income tax positions			0.4
Decreases related to lapse of applicable statute of limitations			(0.3)
Balance at May 29, 2021			$	2.1
Increases related to current year income tax positions			—
Increases related to prior year income tax positions			0.5
Decreases related to lapse of applicable statute of limitations			(0.3)
Balance at May 28, 2022			$	2.3

Schedule of Unrecognized Tax Benefits, Interest, Penalties and Related Liability

Interest and penalties and the related liability, which are excluded from the table above, were as follows for the periods indicated:

(In millions)			May 28, 2022						May 29, 2021						May 30, 2020
Interest and penalty expense			$	—					$	0.1					$	0.1
Liability for interest and penalties			$	0.9					$	0.9					$	0.8

X

- Definition

Schedule of Unrecognized Tax Benefits, Interest, Penalties and Related Liability [Table Text Block]

+ References

No definition available.

+ Details

Name:	mlhr_ScheduleOfUnrecognizedTaxBenefitsInterestPenaltiesAndRelatedLiabilityTableTextBlock
Namespace Prefix:	mlhr_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of income before income tax between domestic and foreign jurisdictions.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Name:	us-gaap_ScheduleOfIncomeBeforeIncomeTaxDomesticAndForeignTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the change in unrecognized tax benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 55
-Paragraph 217
-URI https://asc.fasb.org/extlink&oid=126976462&loc=d3e36027-109320

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15A
-URI https://asc.fasb.org/extlink&oid=121826272&loc=SL6600010-109319

+ Details

Name:	us-gaap_ScheduleOfUnrecognizedTaxBenefitsRollForwardTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration