Steelcase Inc. (SCS) financial statements (2020 and earlier)

Company profile

Business Address 901 44TH STREET SE
GRAND RAPIDS, MI 49508
State of Incorp. MI
Fiscal Year End February 28
SIC 2522 - Office Furniture, Except Wood (benchmarking)
More info Complete financial analysis Financial benchmarking

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

11/30/2019
TTM
2/28/2019
2/28/2018
2/28/2017
2/29/2016
2/28/2015
2/28/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 261283271266245321
Cash and cash equivalents 261283197182177202
Short-term investments   738468120
Receivables 390300308323326307
Inventory, net of allowances, customer advances and progress billings 225185163159166152
Inventory 225185163159166152
Prepaid expense 201919201719
Assets held-for-sale, not part of disposal group  13  
Income taxes receivable114
Other current assets 535359565635
Other undisclosed current assets     3652
Total current assets: 949854819824856890
Noncurrent Assets
Nontrade receivables   19  
Property, plant and equipment 456435408412390377
Long-term investments and receivables 574851515953
Long-term investments 574851515953
Intangible assets, net (including goodwill) 360184124120122125
Goodwill 241138107106107108
Intangible assets, net (excluding goodwill) 1194617141517
Other noncurrent assets 293042303643
Defined benefit plan, assets for plan benefits 11 
Other undisclosed noncurrent assets 292308330371258239
Total noncurrent assets: 1,1941,005973985866837
TOTAL ASSETS: 2,1421,8591,7921,8091,7221,727
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 429395398405370368
Accounts payable 241223217210215213
Accrued liabilities 16182021  
Employee-related liabilities 168145154170152153
Taxes payable 496533
Debt 433333
Accrued environmental loss contingencies 1111  
Deferred tax liabilities    (2)0
Customer advances and deposits20281619 
Other liabilities 81735910099111
Other undisclosed current liabilities 615547307657
Total current liabilities: 595555523558545538
Noncurrent Liabilities
Long-term debt and lease obligation 483292295297282284
Long-term debt, excluding current maturities 483292295297282284
Liabilities, other than long-term debt 215199208218230232
Pension and other postretirement defined benefit plans, liabilities158151
Deferred tax liabilities, net    (1)3
Liability for uncertainty in income taxes     02
Liability, pension and other postretirement and postemployment benefits 142131134143 
Other liabilities 736873757376
Other undisclosed noncurrent liabilities     1(5)
Total noncurrent liabilities: 697491502514513511
Total liabilities: 1,2931,0461,0261,0721,0581,050
Stockholders' equity
Stockholders' equity attributable to parent 850813767737664677
Additional paid in capital 165  5 
Accumulated other comprehensive income (loss) (47)(10)(51)(40)(29)1
Retained earnings 881819817777688676
Total stockholders' equity: 850813767737664677
TOTAL LIABILITIES AND EQUITY: 2,1421,8591,7921,8091,7221,727

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

11/30/2019
TTM
2/28/2019
2/28/2018
2/28/2017
2/29/2016
2/28/2015
2/28/2014
Revenues
(Revenue, Net)
 3,4433,0563,0323,0603,0602,989
Cost of revenue
(Cost of Goods and Services Sold)
 (2,355)(2,049)(2,018)(2,076)(2,106)(2,047)
Other undisclosed gross profit   (4)(13)(38)3
Gross profit: 1,0881,0061,010971916945
Operating expenses (904)(850)(809)(790)(768)(757)
Other undisclosed operating loss   (1)(7)(3)(22)
Operating income: 184156200175145166
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
 152212168(1)
Interest and debt expense (38)(18)(17)(18)(18)(18)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes 32121(0)
Income from continuing operations before equity method investments, income taxes: 164162196175137147
Income from equity method investments     1510
Income from continuing operations before income taxes: 164162196175152157
Income tax expense (38)(81)(72)(5)(51)(60)
Net income: 1268112517010198
Other undisclosed net loss attributable to parent     (15)(10)
Net income attributable to parent: 126811251708688
Undistributed earnings (loss) allocated to participating securities, basic (3)(2)
Other undisclosed net loss available to common stockholders, basic   (2)(3)(2)(1)
Net income available to common stockholders, diluted: 124791221678586

Comprehensive Income ($ in millions)

11/30/2019
TTM
2/28/2019
2/28/2018
2/28/2017
2/29/2016
2/28/2015
2/28/2014
Net income: 1268112517010198
Other comprehensive income (loss) (37)40(11)(10)(30)5
Comprehensive income: 8912111416071103
Other undisclosed comprehensive loss, net of tax, attributable to parent     (15)(10)
Comprehensive income, net of tax, attributable to parent: 891211141605693

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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