Steelcase Inc. (SCS) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
901 44TH STREET SE GRAND RAPIDS, MI 49508 |
| State of Incorp. | MI |
| Fiscal Year End | February 28 |
| Industry (SIC) | 2522 - Office Furniture, Except Wood (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)Annual | Quarterly
| 11/30/2023 Q3 | 8/31/2023 Q2 | 5/31/2023 Q1 | 2/28/2023 Q4 | 11/30/2022 Q3 | 8/31/2022 Q2 | 5/31/2022 Q1 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 153,600 | 40,200 | 90,400 | 55,000 | 52,200 | 116,700 | |||
| Cash and cash equivalents | 153,600 | 40,200 | 90,400 | 55,000 | 52,200 | 116,700 | |||
| Receivables | 372,900 | 363,300 | 378,600 | 416,400 | 432,800 | 365,400 | |||
| Inventory, net of allowances, customer advances and progress billings | 271,000 | 307,300 | 319,700 | 378,500 | 396,700 | 372,000 | |||
| Inventory | 271,000 | 307,300 | 319,700 | 378,500 | 396,700 | 372,000 | |||
| Prepaid expense | 38,400 | 34,500 | 28,900 | 28,600 | 31,200 | 29,800 | |||
| Other current assets | 46,000 | 41,600 | 37,400 | 36,000 | 40,000 | 33,700 | |||
| Other undisclosed current assets | 19,300 | 29,000 | 29,000 | ||||||
| Total current assets: | 901,200 | 815,900 | 884,000 | 914,500 | 952,900 | 917,600 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 183,900 | 193,500 | 198,300 | 195,400 | 193,600 | 199,100 | |||
| Property, plant and equipment | 365,300 | 373,100 | 376,500 | 404,800 | 404,500 | 383,200 | |||
| Long-term investments and receivables | 54,600 | 51,400 | 51,100 | 49,400 | 45,800 | 53,100 | |||
| Long-term investments | 54,600 | 51,400 | 51,100 | 49,400 | 45,800 | 53,100 | |||
| Intangible assets, net (including goodwill) | 381,000 | 384,500 | 388,000 | 395,200 | 400,000 | 321,400 | |||
| Goodwill | 277,300 | 277,000 | 276,800 | 278,000 | 277,000 | 241,800 | |||
| Intangible assets, net (excluding goodwill) | 103,700 | 107,500 | 111,200 | 117,200 | 123,000 | 79,600 | |||
| Deferred income tax assets | 118,900 | 117,600 | 117,300 | 116,400 | 114,600 | 120,800 | |||
| Other noncurrent assets | 32,800 | 29,800 | 30,300 | 31,500 | 29,500 | 28,800 | |||
| Other undisclosed noncurrent assets | 160,900 | 159,700 | 157,300 | 161,200 | 161,700 | 162,800 | |||
| Total noncurrent assets: | 1,297,400 | 1,309,600 | 1,318,800 | 1,353,900 | 1,349,700 | 1,269,200 | |||
| TOTAL ASSETS: | 2,198,600 | 2,125,500 | 2,202,800 | 2,268,400 | 2,302,600 | 2,186,800 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 484,800 | 435,700 | 451,900 | 642,400 | 601,900 | 538,800 | |||
| Employee-related liabilities | ✕ | ✕ | ✕ | ✕ | 132,600 | 100,900 | 81,400 | ||
| Accounts payable | 227,000 | 215,300 | 203,500 | 250,000 | 274,200 | 256,900 | |||
| Accrued liabilities | 257,800 | 220,400 | 248,400 | 259,800 | 226,800 | 200,500 | |||
| Deferred revenue | 52,600 | 51,100 | 50,800 | 56,300 | 65,300 | 49,500 | |||
| Debt | 5,200 | 800 | 35,700 | 70,400 | 118,100 | 37,200 | |||
| Accrued environmental loss contingencies | 800 | ||||||||
| Other undisclosed current liabilities | 47,300 | 46,000 | 64,100 | (90,000) | (60,200) | (38,200) | |||
| Total current liabilities: | 589,900 | 533,600 | 603,300 | 679,100 | 725,100 | 587,300 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 445,900 | 445,700 | 445,500 | 614,300 | 614,100 | 617,400 | |||
| Long-term debt, excluding current maturities | 445,900 | 445,700 | 445,500 | 445,600 | 445,400 | 445,200 | |||
| Liabilities, other than long-term debt | 309,700 | 317,100 | 327,800 | 165,400 | 164,000 | 168,000 | |||
| Liability, pension and other postretirement and postemployment benefits | 97,200 | 95,400 | 103,000 | 111,600 | 111,400 | 115,600 | |||
| Other liabilities | 59,500 | 58,200 | 54,900 | 53,800 | 52,600 | 52,400 | |||
| Operating lease, liability | 153,000 | 163,500 | 169,900 | 168,700 | 168,700 | 172,200 | |||
| Total noncurrent liabilities: | 755,600 | 762,800 | 773,300 | 779,700 | 778,100 | 785,400 | |||
| Total liabilities: | 1,345,500 | 1,296,400 | 1,376,600 | 1,458,800 | 1,503,200 | 1,372,700 | |||
| Equity | |||||||||
| Equity, attributable to parent | 853,100 | 829,100 | 826,200 | 809,600 | 799,400 | 814,100 | |||
| Additional paid in capital | 34,600 | 30,100 | 19,400 | 15,600 | 13,700 | 10,300 | |||
| Accumulated other comprehensive loss | (65,900) | (69,700) | (72,500) | (81,300) | (89,800) | (69,000) | |||
| Retained earnings | 884,400 | 868,700 | 879,300 | 875,300 | 875,500 | 872,800 | |||
| Total equity: | 853,100 | 829,100 | 826,200 | 809,600 | 799,400 | 814,100 | |||
| TOTAL LIABILITIES AND EQUITY: | 2,198,600 | 2,125,500 | 2,202,800 | 2,268,400 | 2,302,600 | 2,186,800 | |||
Income Statement (P&L) ($ in thousands)Annual | Quarterly
| 11/30/2023 Q3 | 8/31/2023 Q2 | 5/31/2023 Q1 | 2/28/2023 Q4 | 11/30/2022 Q3 | 8/31/2022 Q2 | 5/31/2022 Q1 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 854,600 | 751,900 | 1,213,000 | 826,900 | 863,300 | 740,700 | ||
| Cost of revenue | (569,800) | (515,900) | (856,200) | (587,700) | (612,500) | (548,200) | ||
| Cost of goods and services sold | (856,200) | |||||||
| Other undisclosed gross profit | (1,400) | (1,400) | (2,500) | (1,400) | (900) | |||
| Gross profit: | 283,400 | 234,600 | 354,300 | 237,800 | 250,800 | 191,600 | ||
| Operating expenses | (235,900) | (220,600) | (290,100) | (208,100) | (221,400) | (200,900) | ||
| Other undisclosed operating loss | (6,500) | (6,700) | (16,700) | (9,200) | (500) | (3,300) | ||
| Operating income (loss): | 41,000 | 7,300 | 47,500 | 20,500 | 28,900 | (12,600) | ||
| Nonoperating income | 2,600 | 2,200 | 10,000 | 3,700 | 4,700 | 3,200 | ||
| Investment income, nonoperating | 800 | 500 | 300 | 300 | 100 | |||
| Other nonoperating income | 1,800 | 1,700 | 10,000 | 3,400 | 4,400 | 3,100 | ||
| Interest and debt expense | (6,600) | (6,600) | (9,100) | (7,600) | (7,200) | (6,400) | ||
| Income (loss) from continuing operations before equity method investments, income taxes: | 37,000 | 2,900 | 48,400 | 16,600 | 26,400 | (15,800) | ||
| Other undisclosed income from continuing operations before income taxes | 600 | |||||||
| Income (loss) from continuing operations before income taxes: | 37,000 | 2,900 | 49,000 | 16,600 | 26,400 | (15,800) | ||
| Income tax expense (benefit) | (9,500) | (1,400) | (19,900) | (5,200) | (6,800) | 4,400 | ||
| Income (loss) from continuing operations: | 27,500 | 1,500 | 29,100 | 11,400 | 19,600 | (11,400) | ||
| Income (loss) before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | 11,400 | 19,600 | (11,400) | |
| Net income (loss) attributable to parent: | 27,500 | 1,500 | 29,100 | 11,400 | 19,600 | (11,400) | ||
| Other undisclosed net income (loss) available to common stockholders, basic | (1,100) | (100) | (1,100) | (400) | (700) | 400 | ||
| Net income (loss) available to common stockholders, diluted: | 26,400 | 1,400 | 28,000 | 11,000 | 18,900 | (11,000) | ||
Comprehensive Income ($ in thousands)Annual | Quarterly
| 11/30/2023 Q3 | 8/31/2023 Q2 | 5/31/2023 Q1 | 2/28/2023 Q4 | 11/30/2022 Q3 | 8/31/2022 Q2 | 5/31/2022 Q1 | ||
|---|---|---|---|---|---|---|---|---|
| Net income (loss): | 27,500 | 1,500 | 29,100 | 11,400 | 19,600 | (11,400) | ||
| Other comprehensive income | 4,100 | |||||||
| Comprehensive income (loss): | 27,500 | 1,500 | 33,200 | 11,400 | 19,600 | (11,400) | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 3,800 | 2,800 | (2,400) | 8,500 | (20,800) | (18,400) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 31,300 | 4,300 | 30,800 | 19,900 | (1,200) | (29,800) | ||
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.