MillerKnoll Inc. (MLKN) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
855 E MAIN AVE ZEELAND, MI 49464-0302 |
| State of Incorp. | MI |
| Fiscal Year End | May 31 |
| Industry (SIC) | 252 - Office Furniture (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 8/31/2024 MRQ | 5/31/2024 | 11/30/2023 MRQ | 5/31/2023 | 5/31/2022 | 5/31/2021 | 5/31/2020 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 56 | 41 | 230 | 404 | 461 | ||||
| Cash and cash equivalents | 56 | 41 | 230 | 396 | 454 | ||||
| Short-term investments | 8 | 7 | |||||||
| Receivables | 331 | 345 | 364 | 381 | 221 | 200 | |||
| Inventory, net of allowances, customer advances and progress billings | 429 | 448 | 487 | 587 | 214 | 197 | |||
| Inventory | 429 | 448 | 487 | 587 | 214 | 197 | |||
| Prepaid expense | 67 | 82 | 93 | 112 | 45 | 43 | |||
| Asset, held-for-sale, not part of disposal group | 4 | 5 | |||||||
| Other current assets | 10 | 9 | 9 | 7 | 8 | 16 | |||
| Other undisclosed current assets | 175 | 226 | 183 | ||||||
| Total current assets: | 1,070 | 1,114 | 1,176 | 1,318 | 892 | 917 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 376 | 383 | 416 | 426 | 215 | 194 | |||
| Property, plant and equipment | 492 | 518 | 536 | 582 | 327 | 331 | |||
| Intangible assets, net (including goodwill) | 1,971 | 2,007 | 2,016 | 2,090 | 567 | 551 | |||
| Goodwill | 1,226 | 1,228 | 1,222 | 1,226 | 364 | 346 | |||
| Intangible assets, net (excluding goodwill) | 745 | 780 | 794 | 863 | 203 | 205 | |||
| Other noncurrent assets | 135 | 134 | 131 | 99 | 62 | 61 | |||
| Total noncurrent assets: | 2,974 | 3,041 | 3,099 | 3,196 | 1,170 | 1,137 | |||
| TOTAL ASSETS: | 4,044 | 4,156 | 4,275 | 4,514 | 2,062 | 2,054 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 487 | 506 | 499 | 772 | 456 | 422 | |||
| Employee-related liabilities | ✕ | ✕ | ✕ | ✕ | 129 | 90 | 71 | ||
| Accounts payable | 241 | 251 | 270 | 355 | 178 | 129 | |||
| Accrued liabilities | 245 | 255 | 229 | 288 | 187 | 222 | |||
| Deferred revenue | 100 | 93 | 94 | ||||||
| Debt | 44 | 39 | 33 | 29 | 2 | 51 | |||
| Other undisclosed current liabilities | 67 | 76 | 77 | 77 | 43 | 40 | |||
| Total current liabilities: | 698 | 714 | 703 | 877 | 501 | 513 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation, including: | 1,292 | 1,278 | 1,365 | 1,777 | 472 | 719 | |||
| Long-term debt, excluding current maturities | 1,365 | 1,379 | 275 | 540 | |||||
| Other undisclosed long-term debt and lease obligation | 1,292 | 1,278 | |||||||
| Liabilities, other than long-term debt | 595 | 633 | 667 | 325 | 163 | 129 | |||
| Liability, pension and other postretirement and postemployment benefits | 10 | 8 | 8 | 25 | 35 | 42 | |||
| Other liabilities | 225 | 265 | 266 | 300 | 128 | 86 | |||
| Operating lease, liability | 360 | 361 | 394 | 398 | 197 | 179 | |||
| Total noncurrent liabilities: | 1,887 | 1,912 | 2,032 | 2,103 | 635 | 847 | |||
| Total liabilities: | 2,585 | 2,625 | 2,735 | 2,980 | 1,135 | 1,361 | |||
| Temporary equity, carrying amount | 74 | 110 | 108 | 107 | 77 | 50 | |||
| Equity | |||||||||
| Equity, attributable to parent | 1,385 | 1,421 | 1,433 | 1,427 | 850 | 643 | |||
| Common stock | 14 | 15 | 15 | 15 | 12 | 12 | |||
| Additional paid in capital | 725 | 792 | 837 | 826 | 95 | 82 | |||
| Deferred compensation equity | (0) | (0) | |||||||
| Accumulated other comprehensive loss | (93) | (84) | (95) | (107) | (65) | (134) | |||
| Retained earnings | 738 | 699 | 676 | 693 | 808 | 684 | |||
| Total equity: | 1,385 | 1,421 | 1,433 | 1,427 | 850 | 643 | |||
| TOTAL LIABILITIES AND EQUITY: | 4,044 | 4,156 | 4,275 | 4,514 | 2,062 | 2,054 | |||
Income Statement (P&L) ($ in millions)
| 8/31/2024 TTM | 5/31/2024 | 11/30/2023 TTM | 5/31/2023 | 5/31/2022 | 5/31/2021 | 5/31/2020 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 3,628 | 3,809 | 4,087 | 3,946 | 2,465 | 2,487 | ||
| Cost of revenue (Cost of Goods and Services Sold) | (2,209) | (2,388) | (2,657) | (2,593) | (1,516) | (1,576) | ||
| Gross profit: | 1,420 | 1,420 | 1,430 | 1,353 | 949 | 911 | ||
| Operating expenses | (1,252) | (1,287) | (1,308) | (1,313) | (719) | (949) | ||
| Operating income (loss): | 167 | 134 | 122 | 40 | 231 | (38) | ||
| Nonoperating income (expense) | 3 | 1 | 0 | (11) | 10 | 1 | ||
| Investment income, nonoperating | 2 | 2 | 2 | |||||
| Other nonoperating income (expense) | 3 | 1 | 0 | (12) | 8 | (1) | ||
| Interest and debt expense | (78) | (74) | (38) | (14) | (13) | |||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 36 | |||||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 170 | 56 | 49 | (9) | 226 | (13) | ||
| Income from equity method investments | 0 | 5 | ||||||
| Other undisclosed income (loss) from continuing operations before income taxes | (70) | 5 | 3 | |||||
| Income (loss) from continuing operations before income taxes: | 100 | 62 | 51 | (9) | 227 | (8) | ||
| Income tax expense | (15) | (9) | (5) | (11) | (48) | (6) | ||
| Income (loss) from continuing operations: | 85 | 53 | 47 | (20) | 179 | (14) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | (20) | 179 | (14) | |
| Other undisclosed net loss | (0) | (1) | (1) | |||||
| Net income (loss): | 85 | 52 | 46 | (20) | 179 | (14) | ||
| Net income (loss) attributable to noncontrolling interest | (2) | (1) | (4) | (7) | (6) | 5 | ||
| Net income (loss) available to common stockholders, diluted: | 82 | 51 | 42 | (27) | 173 | (9) | ||
Comprehensive Income ($ in millions)
| 8/31/2024 TTM | 5/31/2024 | 11/30/2023 TTM | 5/31/2023 | 5/31/2022 | 5/31/2021 | 5/31/2020 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 85 | 52 | 46 | (20) | 179 | (14) | ||
| Net loss attributable to redeemable noncontrolling interest | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ||
| Other comprehensive income (loss) | 2 | 29 | 12 | (42) | 69 | (40) | ||
| Comprehensive income (loss): | 87 | 81 | 58 | (62) | 248 | (54) | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | (2) | (1) | (4) | (4) | (6) | 5 | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 85 | 80 | 54 | (66) | 242 | (49) | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.