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Acquisitions (Tables)
 6 Months Ended
Nov. 27, 2021
Business Combination and Asset Acquisition [Abstract]  
Schedule of Business Acquisitions by Acquisition, Fair Value of Consideration Transferred The preliminary acquisition date fair value of the consideration transferred for Knoll was approximately $1,887.3 million, which consisted of the following (in millions, except share amounts):
Knoll SharesHerman Miller, Inc (now MillerKnoll, Inc.) Shares ExchangedFair Value
Cash Consideration:
Shares of Knoll Common Stock issued and outstanding at July 19, 202149,444,825 $543.9 
Knoll equivalent shares for outstanding option awards, outstanding awards of restricted common stock held by non-employee directors and outstanding awards of performance units held by individuals who are former employees of Knoll and remain eligible to vest at July 19, 2021184,857 1.4 
Total number of Knoll shares for cash consideration49,629,682 
Shares of Knoll Preferred Stock issued and outstanding at July 19, 2021169,165 254.4 
Consideration for payment to settle Knoll's outstanding debt376.9 
Share Consideration:
Shares of Knoll Common Stock issued and outstanding at July 19, 202149,444,825 
Knoll equivalent shares for outstanding awards of restricted common stock held by non-employee directors and outstanding awards of performance units held by individuals who are former employees of Knoll and remain eligible to vest at July 19, 202174,857 
Total number of Knoll shares for share consideration49,519,682 15,843,921 688.3 
Replacement Share-Based Awards:
Outstanding awards of Knoll Restricted Stock and Performance units relating to Knoll Common Stock at July 19, 202122.4 
Total preliminary acquisition date fair value of consideration transferred$1,887.3 
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed
The following table summarizes the preliminary fair value of assets acquired and liabilities assumed as of the date of acquisition:
(In millions)Fair Value
Cash$88.0 
Accounts receivable82.3 
Inventories221.5 
Other current assets36.2 
Property and equipment291.0 
Right-of-use assets202.7 
Intangible assets746.7 
Goodwill943.7 
Other noncurrent assets22.0 
Total assets acquired2,634.1 
Accounts payable150.7 
Other current liabilities129.1 
Lease liabilities177.8 
Other liabilities289.2 
Total liabilities assumed746.8 
Net Assets Acquired$1,887.3 
Schedule of Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination
The following table summarizes the acquired identified intangible assets, valuation method employed, useful lives and fair value, as determined by the Company as of the acquisition date:
(In millions)Valuation MethodUseful Life (years)Fair Value
BacklogMulti-Period Excess Earnings
Less than 1 Year
$27.8 
Trade name - indefinite livedRelief from RoyaltyIndefinite405.9 
Trade name - amortizingRelief from Royalty
5-10 Years
14.0 
DesignsRelief from Royalty
9-15 years
31.0 
Customer RelationshipsMulti-Period Excess Earnings
2-15 years
268.0 
Total$746.7 
Schedule of Condensed Statement of Comprehensive Income Revenue and Net Loss of Knoll included in the Company's Condensed Consolidated Statements of Comprehensive Income (Loss) from the acquisition date of July 19, 2021 through November 27, 2021 are as follows (in millions):
Total revenues$492.7 
Net Loss (73.3)
Schedule of Business Acquisition, Pro Forma Information Accordingly, such amounts are not necessarily indicative of the results that would have occurred if the acquisition had occurred on the date indicated or that may result in the future.
Three Months EndedSix Months Ended
(In millions)November 27, 2021November 28, 2020November 27, 2021November 28, 2020
Net sales$1,026.3 $940.5 $1,970.2 $1,832.3 
Net earnings attributable to MillerKnoll, Inc.$8.2 $58.4 $(22.6)$110.3