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Acquisitions and Divestitures (Tables)
 9 Months Ended
Feb. 26, 2022
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 
Inventories219.9 
Other current assets36.2 
Property and equipment292.5 
Right-of-use assets202.7 
Intangible assets748.6 
Goodwill941.4 
Other noncurrent assets23.6 
Total assets acquired2,635.2 
Accounts payable144.0 
Other current liabilities134.1 
Lease liabilities177.8 
Other liabilities292.0 
Total liabilities assumed747.9 
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
$27.6 
Trade name - indefinite livedRelief from RoyaltyIndefinite413.0 
Trade name - amortizingRelief from Royalty
5-10 Years
23.0 
DesignsRelief from Royalty
9-15 years
31.0 
Customer RelationshipsMulti-Period Excess Earnings
2-15 years
254.0 
Total$748.6 
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 February 26, 2022 are as follows (in millions):
Total Revenue$829.5 
Net Loss $(63.4)
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 EndedNine Months Ended
(In millions)February 26, 2022February 27, 2021February 26, 2022February 27, 2021
Net sales$1,029.5 $848.7 $2,999.7 $2,681.0 
Net earnings (loss) attributable to MillerKnoll, Inc.$8.0 $30.1 $(18.0)$140.2