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Acquisitions and Divestitures (Tables) | 12 Months Ended
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Jun. 03, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of Business Acquisitions by Acquisition, Fair Value of Consideration Transferred | The 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 Shares |  | Herman Miller, Inc (now MillerKnoll, Inc.) Shares Exchanged |  | Fair Value
Cash Consideration: |  |  |  |  |
Shares of Knoll Common Stock issued and outstanding at July 19, 2021 | 49,444,825 |  |  |  |  | $ | 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, 2021 | 184,857 |  |  |  |  | 1.4 |
Total number of Knoll shares for cash consideration | 49,629,682 |  |  |  |  |
Shares of Knoll Preferred Stock issued and outstanding at July 19, 2021 | 169,165 |  |  |  |  | 254.4 |
Consideration for payment to settle Knoll's outstanding debt |  |  |  |  | 376.9 |
Share Consideration: |  |  |  |  |
Shares of Knoll Common Stock issued and outstanding at July 19, 2021 | 49,444,825 |  |  |  |  |
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, 2021 | 74,857 |  |  |  |  |
Total number of Knoll shares for share consideration | 49,519,682 |  |  | 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, 2021 |  |  |  |  | 22.4 |
Total acquisition date fair value of consideration transferred |  |  |  |  | $ | 1,887.3 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | The following table summarizes the fair value of assets acquired and liabilities assumed as of the date of acquisition:
(In millions) | Fair Value
Cash | $ | 88.0 |
Accounts receivable | 82.3 |
Inventories | 219.9 |
Other current assets | 29.2 |
Property and equipment | 296.5 |
Right-of-use assets | 202.7 |
Intangible assets | 756.6 |
Goodwill | 903.5 |
Other noncurrent assets | 25.1 |
Total assets acquired | $ | 2,603.8 |
Accounts payable | 144.0 |
Other current liabilities | 153.1 |
Lease liabilities | 177.8 |
Other liabilities | 241.6 |
Total liabilities assumed | 716.5 |
Net Assets Acquired | $ | 1,887.3 |
Schedule of Valuation Method Employed, Useful Lives and Fair Value of Intangible Assets Acquired | 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 Method |  | Useful Life (years) |  | Fair Value
Backlog | Multi-Period Excess Earnings |  | Less than 1 Year |  | $ | 27.6 |
Trade name - indefinite lived | Relief from Royalty |  | Indefinite |  | 418.0 |
Trade name - amortizing | Relief from Royalty |  | 5-10 Years |  | 14.0 |
Designs | Relief from Royalty |  | 9-15 years |  | 40.0 |
Customer Relationships | Multi-Period Excess Earnings |  | 2-15 years |  | 257.0 |
Total |  |  |  |  | $ | 756.6 |

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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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- Definition Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments. + References No definition available. + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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