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Restructuring and Integration Expense (Tables)

9 Months Ended

Mar. 04, 2023

Restructuring and Related Activities [Abstract]

Schedule of Restructuring and Related Costs

The following table provides an analysis of the changes in liability balance for Knoll Integration costs that qualify as exit and disposal costs under U.S. GAAP (i.e., severance and employee benefit costs and exit and disposal activities) for the nine months ended March 4, 2023:

(In millions)			Severance and Employee Benefit						Exit and Disposal Activities						Total
May 29, 2022			$	1.4					$	—					$	1.4
Integration Costs			3.1						3.6						6.7
Amounts Paid			(2.3)						(3.6)						(5.9)
Non-cash costs			(0.2)						—						(0.2)
March 4, 2023			$	2.0					$	—					$	2.0

The following is a summary of integration expenses by segment for the periods indicated:

			Three Months Ended												Nine Months Ended
(In millions)			March 4, 2023						February 26, 2022						March 4, 2023						February 26, 2022
Americas Contract			$	2.2					$	0.9					$	6.2					$	21.8
International Contract & Specialty			0.5						—						2.0						—
Retail			—						—						0.2						—
Corporate			1.3						5.0						4.3						79.9
Total			$	4.0					$	5.9					$	12.7					$	101.7

The following table provides an analysis of the changes in the restructuring cost reserve for the nine months ended March 4, 2023:

(In millions)			Severance and Employee-Related
May 28, 2022			$	—
Restructuring Costs			19.8
Amounts Paid			(12.8)
March 4, 2023			$	7.0

The following is a summary of restructuring costs by segment for the periods indicated:

			Three Months Ended												Nine Months Ended
(In millions)			March 4, 2023						February 26, 2022						March 4, 2023						February 26, 2022
Americas Contract			$	4.4					$	—					$	17.5					$	—
International Contract & Specialty			—						—						0.7						—
Retail			0.2						—						1.6						—
Total			$	4.6					$	—					$	19.8					$	—

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
Inventory			$	15.7
Property and equipment			3.8
Right of use asset			6.1
Tradename			11.6
Total			$	37.2

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- References

No definition available.

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- Definition

Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 5.P.3)
-URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140864-122747

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 420
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB TOPIC 5.P.4)
-URI https://asc.fasb.org/extlink&oid=115931487&loc=d3e140904-122747

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