Steelcase Inc. (SCS) financial statements (2021 and earlier)

Company profile

Business Address 901 44TH STREET SE
GRAND RAPIDS, MI 49508
State of Incorp. MI
Fiscal Year End February 29
SIC 2522 - Office Furniture, Except Wood (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

11/30/2020
TTM
2/29/2020
2/28/2019
2/28/2018
2/28/2017
2/29/2016
2/28/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 541261283271266245
Cash and cash equivalents 541261283197182177
Short-term investments    738468
Receivables 372390300308323326
Inventory, net of allowances, customer advances and progress billings 215225185163159166
Inventory 215225185163159166
Prepaid expense 222019192017
Assets held-for-sale, not part of disposal group   13  
Income taxes receivable11
Other current assets 395353595656
Other undisclosed current assets      36
Total current assets: 1,189949854819824856
Noncurrent Assets
Operating lease, right-of-use asset 238
Nontrade receivables    19  
Property, plant and equipment 426456435408412390
Long-term investments and receivables 525748515159
Long-term investments 525748515159
Intangible assets, net (including goodwill) 337360184124120122
Goodwill 234241138107106107
Intangible assets, net (excluding goodwill) 10311946171415
Other noncurrent assets 392930423036
Defined benefit plan, assets for plan benefits 11
Other undisclosed noncurrent assets 285292308330371258
Total noncurrent assets: 1,3771,1941,005973985866
TOTAL ASSETS: 2,5652,1421,8591,7921,8091,722
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 436429395398405370
Accounts payable 244241223217210215
Accrued liabilities  16182021 
Employee-related liabilities 192168145154170152
Taxes payable  49653
Debt 343333
Accrued environmental loss contingencies 11111 
Deferred tax liabilities    (2)
Customer advances and deposits20281619 
Other liabilities 10081735910099
Other undisclosed current liabilities 1516155473076
Total current liabilities: 691595555523558545
Noncurrent Liabilities
Long-term debt and lease obligation 695483292295297282
Long-term debt, excluding current maturities 481483292295297282
Operating lease, liability 214
Liabilities, other than long-term debt 209215199208218230
Pension and other postretirement defined benefit plans, liabilities158
Deferred tax liabilities, net    (1)
Liability for uncertainty in income taxes      0
Liability, pension and other postretirement and postemployment benefits 148142131134143 
Other liabilities 607368737573
Other undisclosed noncurrent liabilities      1
Total noncurrent liabilities: 904697491502514513
Total liabilities: 1,5951,2931,0461,0261,0721,058
Stockholders' equity
Stockholders' equity attributable to parent 970850813767737664
Additional paid in capital 28165  5
Accumulated other comprehensive loss (69)(47)(10)(51)(40)(29)
Retained earnings 1,011881819817777688
Total stockholders' equity: 970850813767737664
TOTAL LIABILITIES AND EQUITY: 2,5652,1421,8591,7921,8091,722

Income statement (P&L) ($ in millions)

11/30/2020
TTM
2/29/2020
2/28/2019
2/28/2018
2/28/2017
2/29/2016
2/28/2015
Revenues 3,7243,4433,0563,0323,0603,060
Revenue, net3,4433,0563,0323,0603,060
Cost of revenue
(Cost of Goods and Services Sold)
 (2,509)(2,355)(2,049)(2,018)(2,076)(2,106)
Other undisclosed gross profit    (4)(13)(38)
Gross profit: 1,2151,0881,0061,010971916
Operating expenses (958)(904)(850)(809)(790)(768)
Other undisclosed operating loss    (1)(7)(3)
Operating income: 257184156200175145
Nonoperating income
(Other Nonoperating income)
 10152212168
Interest and debt expense (27)(38)(18)(17)(18)(18)
Other undisclosed income from continuing operations before equity method investments, income taxes 532121
Income from continuing operations before equity method investments, income taxes: 245164162196175137
Income from equity method investments      15
Income from continuing operations before income taxes: 245164162196175152
Income tax expense (46)(38)(81)(72)(5)(51)
Net income: 20012681125170101
Other undisclosed net loss attributable to parent      (15)
Net income attributable to parent: 2001268112517086
Undistributed earnings (loss) allocated to participating securities, basic (4)(3)(2)
Other undisclosed net loss available to common stockholders, basic    (2)(3)(2)
Net income available to common stockholders, diluted: 1961247912216785

Comprehensive Income ($ in millions)

11/30/2020
TTM
2/29/2020
2/28/2019
2/28/2018
2/28/2017
2/29/2016
2/28/2015
Net income: 20012681125170101
Other comprehensive income (loss) (31)(37)40(11)(10)(30)
Comprehensive income: 1698912111416071
Other undisclosed comprehensive income (loss), net of tax, attributable to parent 9    (15)
Comprehensive income, net of tax, attributable to parent: 1788912111416056

Statements sources

The financial statements are based on the company's filings with the 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.

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