XML 102 R38.htm IDEA: XBRL DOCUMENT v3.23.2

Income Taxes (Tables)

12 Months Ended

Jun. 03, 2023

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)			2023						2022						2021
Domestic			$	(90.3)					$	(142.4)					$	135.1
Foreign			141.7						133.8						93.2
Total			$	51.4					$	(8.6)					$	228.3

Schedule of Components of Income Tax Expense (Benefit)

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

(In millions)						2023						2022						2021
Current:			Domestic - Federal			$	4.2					$	(3.8)					$	13.2
			Domestic - State			2.2						0.2						5.2
			Foreign			42.3						38.1						22.8
						48.7						34.5						41.2
Deferred:			Domestic - Federal			(32.5)						(12.2)						10.4
			Domestic - State			(4.4)						(5.0)						1.4
			Foreign			(7.3)						(6.2)						(4.7)
						(44.2)						(23.4)						7.1
Total income tax provision						$	4.5					$	11.1					$	48.3

Schedule of 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)			2023						2022						2021
Income taxes computed at the United States Statutory rate			$	10.8					$	(1.8)					$	47.9
Increase (decrease) in taxes resulting from:
State and local income taxes, net of federal income tax benefit			(1.0)						(4.0)						5.6
Non-deductible officers' compensation			0.9						5.3						0.5
Foreign-derived intangible income			(1.7)						—						(2.1)
Foreign-based company income			5.1						3.1						2.1
Global intangible low-taxed income			9.4						15.2						7.9
Foreign statutory rate differences			2.3						4.1						2.6
Research and development incentives			(4.0)						(4.8)						(3.2)
Federal return to provision adjustments			(4.1)						(0.6)						(0.4)
Foreign tax credit			(15.6)						(8.8)						(10.3)
Foreign withholding taxes and other miscellaneous foreign taxes			1.2						2.4						1.0
Change in valuation allowance against deferred tax assets			1.3						0.4						(2.1)
Other, net			(0.1)						0.6						(1.2)
Income tax expense			$	4.5					$	11.1					$	48.3
Effective tax rate			8.8		%				(130.1)		%				21.2		%

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 June 3, 2023 and May 28, 2022, are as follows:

(In millions)			2023						2022
Deferred tax assets:
Compensation-related accruals			$	15.2					$	15.3
Capitalized research and experimental costs			17.6						—
Accrued pension and post-retirement benefit obligations			0.4						7.1
Deferred revenue			5.6						6.9
Inventory related			16.1						10.0
Other reserves and accruals			10.9						12.3
Warranty			18.0						17.8
State and local tax net operating loss carryforwards and credits			4.7						7.2
Federal net operating loss carryforward			5.2						3.6
Federal and state nondeductible interest expense carryforward			7.9						1.0
Foreign tax net operating loss carryforwards and credits			14.2						15.9
Accrued step rent and tenant reimbursements			0.7						1.0
Lease liability			109.6						109.0
Other			5.1						6.0
Subtotal			231.2						213.1
Valuation allowance			(12.7)						(11.7)
Total			$	218.5					$	201.4
Deferred tax liabilities:
Book basis in property in excess of tax basis			$	64.0					$	72.3
Intangible assets			196.3						206.8
Interest rate swap			14.1						8.0
Right of use lease assets			99.1						100.5
Withholding taxes on planned repatriation of foreign earnings			5.8						8.3
Other			2.3						2.8
Total			$	381.6					$	398.7

Schedule of Unrecognized Tax Benefits

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

(In millions)
Balance at May 29, 2021			$	2.1
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
Increases related to current year income tax positions			0.1
Decreases related to lapse of applicable statute of limitations			(0.6)
Decreases related to settlements			(0.2)
Balance at June 3, 2023			$	1.6

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)			June 3, 2023						May 28, 2022						May 29, 2021
Interest and penalty (income) expense			$	(0.2)					$	—					$	0.1
Liability for interest and penalties			$	0.7					$	0.9					$	0.9

X

- Definition

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

+ References

No definition available.

+ Details

Name:	mlkn_ScheduleOfUnrecognizedTaxBenefitsInterestPenaltiesAndRelatedLiabilityTableTextBlock
Namespace Prefix:	mlkn_
Data Type:	dtr-types1: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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 9
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-9

+ 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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-2

+ 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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Paragraph 12
-Section 50
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-12

+ 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
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(1)(Note 1))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

+ 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
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 217
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482663/740-10-55-217

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 15A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-15A

+ Details

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