Steelcase Inc. (SCS) financial statements (2023 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)
| 11/30/2021 TTM | 2/28/2021 | 2/29/2020 | 2/28/2019 | 2/28/2018 | 2/28/2017 | 2/29/2016 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 490 | 541 | 261 | 283 | 271 | 266 | |||
| Cash and cash equivalents | 490 | 541 | 261 | 283 | 197 | 182 | |||
| Short-term investments | 73 | 84 | |||||||
| Receivables | 279 | 372 | 390 | 300 | 308 | 323 | |||
| Inventory, net of allowances, customer advances and progress billings | 194 | 215 | 225 | 185 | 163 | 159 | |||
| Inventory | 194 | 215 | 225 | 185 | 163 | 159 | |||
| Prepaid expense | 21 | 22 | 20 | 19 | 19 | 20 | |||
| Assets held-for-sale, not part of disposal group | 13 | ||||||||
| Other current assets | 71 | 39 | 53 | 53 | 59 | 56 | |||
| Other undisclosed current assets | (9) | ||||||||
| Total current assets: | 1,045 | 1,189 | 949 | 854 | 819 | 824 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 225 | 238 | ✕ | ✕ | ✕ | ✕ | |||
| Nontrade receivables | 19 | ||||||||
| Property, plant and equipment | 411 | 426 | 456 | 435 | 408 | 412 | |||
| Long-term investments and receivables | 52 | 52 | 57 | 48 | 51 | 51 | |||
| Long-term investments | 52 | 52 | 57 | 48 | 51 | 51 | |||
| Intangible assets, net (including goodwill) | 309 | 337 | 360 | 184 | 124 | 120 | |||
| Goodwill | 218 | 234 | 241 | 138 | 107 | 106 | |||
| Intangible assets, net (excluding goodwill) | 90 | 103 | 119 | 46 | 17 | 14 | |||
| Other noncurrent assets | 30 | 39 | 29 | 30 | 42 | 30 | |||
| Defined benefit plan, assets for plan benefits | ✕ | ✕ | ✕ | ✕ | ✕ | 1 | |||
| Other undisclosed noncurrent assets | 283 | 285 | 292 | 308 | 330 | 371 | |||
| Total noncurrent assets: | 1,309 | 1,377 | 1,194 | 1,005 | 973 | 985 | |||
| TOTAL ASSETS: | 2,354 | 2,565 | 2,142 | 1,859 | 1,792 | 1,809 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 271 | 436 | 429 | 395 | 398 | 405 | |||
| Accounts payable | 181 | 244 | 241 | 223 | 217 | 210 | |||
| Accrued liabilities | 16 | 18 | 20 | 21 | |||||
| Employee-related liabilities | 90 | 192 | 168 | 145 | 154 | 170 | |||
| Taxes payable | 4 | 9 | 6 | 5 | |||||
| Debt | 5 | 3 | 4 | 3 | 3 | 3 | |||
| Accrued environmental loss contingencies | 1 | 1 | 1 | 1 | 1 | 1 | |||
| Customer advances and deposits | ✕ | ✕ | ✕ | 20 | 28 | 16 | 19 | ||
| Other liabilities | 109 | 100 | 81 | 73 | 59 | 100 | |||
| Other undisclosed current liabilities | 130 | 151 | 61 | 55 | 47 | 30 | |||
| Total current liabilities: | 515 | 691 | 595 | 555 | 523 | 558 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 679 | 695 | 483 | 292 | 295 | 297 | |||
| Long-term debt, excluding current maturities | 479 | 481 | 483 | 292 | 295 | 297 | |||
| Operating lease, liability | 200 | 214 | ✕ | ✕ | ✕ | ✕ | |||
| Liabilities, other than long-term debt | 200 | 209 | 215 | 199 | 208 | 218 | |||
| Liability, pension and other postretirement and postemployment benefits | 153 | 148 | 142 | 131 | 134 | 143 | |||
| Other liabilities | 47 | 60 | 73 | 68 | 73 | 75 | |||
| Total noncurrent liabilities: | 879 | 904 | 697 | 491 | 502 | 514 | |||
| Total liabilities: | 1,394 | 1,595 | 1,293 | 1,046 | 1,026 | 1,072 | |||
| Stockholders' equity | |||||||||
| Stockholders' equity attributable to parent | 961 | 970 | 850 | 813 | 767 | 737 | |||
| Additional paid in capital | 13 | 28 | 16 | 5 | |||||
| Accumulated other comprehensive loss | (40) | (69) | (47) | (10) | (51) | (40) | |||
| Retained earnings | 988 | 1,011 | 881 | 819 | 817 | 777 | |||
| Total stockholders' equity: | 961 | 970 | 850 | 813 | 767 | 737 | |||
| TOTAL LIABILITIES AND EQUITY: | 2,354 | 2,565 | 2,142 | 1,859 | 1,792 | 1,809 | |||
Income statement (P&L) ($ in millions)
| 11/30/2021 TTM | 2/28/2021 | 2/29/2020 | 2/28/2019 | 2/28/2018 | 2/28/2017 | 2/29/2016 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 2,596 | 3,724 | 3,443 | 3,056 | 3,032 | 3,060 | ||
| Revenue, net | ✕ | ✕ | ✕ | 3,443 | 3,056 | 3,032 | 3,060 | |
| Cost of revenue (Cost of Goods and Services Sold) | (1,823) | (2,509) | (2,355) | (2,049) | (2,018) | (2,076) | ||
| Other undisclosed gross profit | (11) | (4) | (13) | |||||
| Gross profit: | 763 | 1,215 | 1,088 | 1,006 | 1,010 | 971 | ||
| Operating expenses | (684) | (958) | (904) | (850) | (809) | (790) | ||
| Other undisclosed operating loss | (36) | (1) | (7) | |||||
| Operating income: | 43 | 257 | 184 | 156 | 200 | 175 | ||
| Nonoperating income (Other Nonoperating income) | 9 | 10 | 15 | 22 | 12 | 16 | ||
| Interest and debt expense | (27) | (27) | (38) | (18) | (17) | (18) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 1 | 5 | 3 | 2 | 1 | 2 | ||
| Income from continuing operations before income taxes: | 26 | 245 | 164 | 162 | 196 | 175 | ||
| Income tax expense (benefit) | 0 | (46) | (38) | (81) | (72) | (5) | ||
| Net income attributable to parent: | 26 | 200 | 126 | 81 | 125 | 170 | ||
| Undistributed earnings (loss) allocated to participating securities, basic | (1) | (4) | (3) | (2) | ✕ | ✕ | ||
| Other undisclosed net loss available to common stockholders, basic | (2) | (3) | ||||||
| Net income available to common stockholders, diluted: | 26 | 196 | 124 | 79 | 122 | 167 | ||
Comprehensive Income ($ in millions)
| 11/30/2021 TTM | 2/28/2021 | 2/29/2020 | 2/28/2019 | 2/28/2018 | 2/28/2017 | 2/29/2016 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 26 | 200 | 126 | 81 | 125 | 170 | ||
| Other comprehensive income (loss) | 27 | (31) | (37) | 40 | (11) | (10) | ||
| Comprehensive income: | 53 | 169 | 89 | 121 | 114 | 160 | ||
| Other undisclosed comprehensive income, net of tax, attributable to parent | 3 | 9 | ||||||
| Comprehensive income, net of tax, attributable to parent: | 55 | 178 | 89 | 121 | 114 | 160 | ||
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.