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 490541261283271266
Cash and cash equivalents 490541261283197182
Short-term investments     7384
Receivables 279372390300308323
Inventory, net of allowances, customer advances and progress billings 194215225185163159
Inventory 194215225185163159
Prepaid expense 212220191920
Assets held-for-sale, not part of disposal group    13  
Other current assets 713953535956
Other undisclosed current assets (9)     
Total current assets: 1,0451,189949854819824
Noncurrent Assets
Operating lease, right-of-use asset 225238
Nontrade receivables     19 
Property, plant and equipment 411426456435408412
Long-term investments and receivables 525257485151
Long-term investments 525257485151
Intangible assets, net (including goodwill) 309337360184124120
Goodwill 218234241138107106
Intangible assets, net (excluding goodwill) 90103119461714
Other noncurrent assets 303929304230
Defined benefit plan, assets for plan benefits 1
Other undisclosed noncurrent assets 283285292308330371
Total noncurrent assets: 1,3091,3771,1941,005973985
TOTAL ASSETS: 2,3542,5652,1421,8591,7921,809
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 271436429395398405
Accounts payable 181244241223217210
Accrued liabilities   16182021
Employee-related liabilities 90192168145154170
Taxes payable   4965
Debt 534333
Accrued environmental loss contingencies 111111
Customer advances and deposits20281619
Other liabilities 109100817359100
Other undisclosed current liabilities 13015161554730
Total current liabilities: 515691595555523558
Noncurrent Liabilities
Long-term debt and lease obligation 679695483292295297
Long-term debt, excluding current maturities 479481483292295297
Operating lease, liability 200214
Liabilities, other than long-term debt 200209215199208218
Liability, pension and other postretirement and postemployment benefits 153148142131134143
Other liabilities 476073687375
Total noncurrent liabilities: 879904697491502514
Total liabilities: 1,3941,5951,2931,0461,0261,072
Stockholders' equity
Stockholders' equity attributable to parent 961970850813767737
Additional paid in capital 1328165  
Accumulated other comprehensive loss (40)(69)(47)(10)(51)(40)
Retained earnings 9881,011881819817777
Total stockholders' equity: 961970850813767737
TOTAL LIABILITIES AND EQUITY: 2,3542,5652,1421,8591,7921,809

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 2,5963,7243,4433,0563,0323,060
Revenue, net3,4433,0563,0323,060
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: 7631,2151,0881,0061,010971
Operating expenses (684)(958)(904)(850)(809)(790)
Other undisclosed operating loss (36)   (1)(7)
Operating income: 43257184156200175
Nonoperating income
(Other Nonoperating income)
 91015221216
Interest and debt expense (27)(27)(38)(18)(17)(18)
Other undisclosed income from continuing operations before equity method investments, income taxes 153212
Income from continuing operations before income taxes: 26245164162196175
Income tax expense (benefit) 0(46)(38)(81)(72)(5)
Net income attributable to parent: 2620012681125170
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: 2619612479122167

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: 2620012681125170
Other comprehensive income (loss) 27(31)(37)40(11)(10)
Comprehensive income: 5316989121114160
Other undisclosed comprehensive income, net of tax, attributable to parent 39    
Comprehensive income, net of tax, attributable to parent: 5517889121114160

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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