XML 92 R28.htm IDEA: XBRL DOCUMENT v3.23.2

Significant Accounting and Reporting Policies (Tables)

12 Months Ended

Jun. 03, 2023

Accounting Policies [Abstract]

Schedule of Goodwill and Indefinite-lived Intangibles

The changes in the carrying amount of goodwill, by reporting segment, are as follows:

(In millions)						Americas Contract						International Contract & Specialty						Global Retail									Total
Balance at May 29, 2021
Goodwill						$	194.1					$	103.0					$	174.3								$	471.4
Foreign currency translation adjustments						3.3						8.2						6.8									18.3
Accumulated impairment losses						(36.7)						—						(88.8)									(125.5)
Net goodwill as of May 29, 2021						$	160.7					$	111.2					$	92.3								$	364.2
Balance at May 28, 2022
Goodwill						$	197.4					$	111.2					$	181.1								$	489.7
Sale of owned dealer						(0.3)						—						—									(0.3)
Acquisition of Knoll						346.0						226.8						330.7									903.5
Foreign currency translation adjustments						23.7						(33.7)						(31.2)									(41.2)
Accumulated impairment losses						(36.7)						—						(88.8)									(125.5)
Net goodwill as of May 28, 2022						$	530.1					$	304.3					$	391.8								$	1,226.2
Balance at June 3, 2023
Goodwill						$	566.8					$	304.3					$	480.6								$	1,351.7
Foreign currency translation adjustments						(1.7)						(1.3)						(1.5)									(4.5)
Accumulated impairment losses						(36.7)						—						(88.8)									(125.5)
Net goodwill balance as of June 3, 2023						$	528.4					$	303.0					$	390.3								$	1,221.7

Other indefinite-lived assets included in the Consolidated Balance Sheets consist of the following:

(In millions)												Indefinite-lived Intangible Assets
Balance at May 29, 2021												$	97.6
Foreign currency translation adjustments												(14.6)
Acquisition of Knoll												$	418.0
Balance at May 28, 2022												$	501.0
Foreign currency translation adjustments												(0.6)
Impairment charges												(19.7)
Balance at June 3, 2023												$	480.7

Schedule of Property and Equipment

The following table summarizes our property as of the dates indicated:

(In millions)			June 3, 2023						May 28, 2022
Land and improvements			$	55.1					$	54.4
Buildings and improvements			393.5						377.2
Machinery and equipment			1,066.6						1,027.0
Construction in progress			55.5						51.1
Accumulated depreciation			(1,034.4)						(928.2)
Property and equipment, net			$	536.3					$	581.5

Schedule of Finite-Lived Intangible Assets by Major Class

Refer to the following table for the combined gross carrying value and accumulated amortization for these amortizable intangibles.

			June 3, 2023
(In millions)			Patent and Trademarks						Customer Relationships						Designs and Patterns						Backlog												Other						Total
Gross carrying value			$	60.1					$	355.1					$	42.0					$	28.4											$	12.7					$	498.3
Accumulated amortization			30.8						95.8						9.2						28.4												9.4						173.6
Impairment			11.6						—						—						—												—						11.6
Net			$	17.7					$	259.3					$	32.8					$	—											$	3.3					$	313.1
			May 28, 2022
			Patent and Trademarks						Customer Relationships						Designs and Patterns						Backlog												Other						Total
Gross carrying value			$	57.9					$	355.8					$	42.0					$	29.8											$	11.6					$	497.1
Accumulated amortization			24.7						66.0						5.9						29.8												8.3						134.7
Net			$	33.2					$	289.8					$	36.1					$	—											$	3.3					$	362.4

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated amortization expense on existing amortizable intangible assets as of June 3, 2023, for each of the succeeding five fiscal years, is as follows:

(In millions)
2024			$	36.6
2025			36.4
2026			35.8
2027			33.2
2028			29.0

Schedule of Impairment Charges

The table below provides information related to the impairments recognized during the third quarter of fiscal 2023. These charges are included in "Impairment charges" and "Cost of sales" within the Consolidated Statements of Comprehensive Income.

(In millions)			Impairment Charge
Property and equipment			3.8
Right of use asset			6.1
Trade name			11.6
Total			$	21.5

Schedule of Self Insurance Retention Levels

The Company's retention levels designated within significant insurance arrangements as of June 3, 2023, are as follows:

(In millions)			Retention Level (per occurrence)
General liability			$	1.00
Auto liability			$	1.00
Workers' compensation			$	0.75
Health benefit			$	0.50

X

- Definition

Schedule of Self Insurance Retention Levels [Table Text Block]

+ References

No definition available.

+ Details

Name:	mlkn_ScheduleOfSelfInsuranceRetentionLevelsTableTextBlock
Namespace Prefix:	mlkn_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

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

X

- Definition

Tabular disclosure for impairment of long-lived assets held and used by an entity which includes a description of the impaired long-lived asset and facts and circumstances leading to the impairment, aggregate amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired long-lived asset is reported.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 360
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.CC)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480091/360-10-S99-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-2

+ Details

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

X

- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 360
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482099/360-10-50-1

+ Details

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

X

- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482665/350-30-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482665/350-30-50-2

+ Details

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

X

- Definition

Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482573/350-20-50-1

+ Details

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

X

- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482665/350-30-50-2

+ Details

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