Financial Analysis

Employee Benefit Plans Pension Plan One of the Company's wholly owned foreign subsidiaries has a defined-benefit pension plan based upon an average final pay benefit calculation. The measurement date for this plan is the last day of the fiscal year and the plan is frozen to new participants. Prior to the end of the second quarter of fiscal 2025, the Knoll subsidiary had one domestic defined-benefit pension plan covering eligible U.S. nonunion employees. The measurement date for this plan had been the last day of the fiscal year and the plan was frozen to new participants. In the second quarter of fiscal 2025, the Company completed the termination of the defined-benefit pension plan held by the Knoll subsidiary, which was fully funded as of November 30, 2024. During the second quarter of fiscal 2025, the Company settled its obligations under the plan by providing lump-sum payments of $39.9 million to eligible participants who elected to receive them and entering into an annuity purchase contract for the remaining liability of $84.7 million. The Company recognized a pension plan termination gain of $1.5 million during the twelve months ended May 31, 2025, which represents the acceleration of unamortized net actuarial losses previously included within accumulated other comprehensive income. The gain was recorded in Other (income) expense, net within our Consolidated Statements of Comprehensive Income. Benefit Obligations and Funded Status The following table presents, for the fi …

CompensationAndEmployeeBenefitPlansTextBlock · excerpt; the full note is in the filing

"Short-Term Borrowings and Long-Term Debt Long-term debt consisted of the following obligations: (In millions) May 30, 2026 May 31, 2025 Syndicated revolving line of credit, due April 2030 $ 309.2 $ 330.8 Term Loan A, 5.3703%, due April 2030 392.5 400.0 Term Loan B, 5.6203%, due August 2032 547.3 603.1 Accounts Receivable Securitization Facility, 4.6950% due September 2028 42.9 Supplier financing program 1.8 2.0 Finance lease liability 0.9 1.1 Total debt $ 1,294.6 $ 1,337.0 Less: Unamortized discount and issuance costs (8.9) (10.4) Less: Current debt (25.1) (16.0) Long-term debt $ 1,260.6 $ 1,310.6 In connection with the acquisition of Knoll, in July 2021, the Company entered into a credit agreement that provided for a syndicated revolving line of credit (the ""Revolver"") and two term loans. The Revolver provided the Company with up to $725.0 million in revolving variable interest borrowing capacity. The term loans consisted of a five-year senior secured ""Term Loan A"" facility with an aggregate principal amount of $400.0 million and a seven-year senior secured ""Term Loan B"" facility with an aggregate principal amount of $625.0 million. In April 2025, the Company entered into an amendment to the Credit Agreement. Amended terms for the Revolver and Term Loan A included extending the maturity to April 2030, a new amortization schedule of required quarterly principal payments for Term Loan A, and a higher maximum first lien secured net leverage ratio with no step down. At th …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Revenue disaggregated by product type and reportable segment is provided in the table below: Year Ended (In millions) May 30, 2026 May 31, 2025 June 1, 2024 North America Contract: Workplace $ 1,313.7 $ 1,227.8 $ 1,188.3 Performance Seating 346.5 332.3 325.7 Lifestyle 212.1 218.5 218.2 Other 188.9 186.6 190.1 Total North America Contract $ 2,061.2 $ 1,965.2 $ 1,922.3 International Contract: Workplace $ 187.7 $ 191.2 $ 189.8 Performance Seating 284.3 275.6 262.5 Lifestyle 174.5 164.8 168.0 Other 27.5 28.4 25.3 Total International Contract $ 674.0 $ 660.0 $ 645.6 Global Retail: Workplace $ 8.8 $ 9.5 $ 13.7 Performance Seating 218.2 203.3 191.3 Lifestyle 877.4 830.4 854.1 Other 2.1 1.5 1.4 Total Global Retail $ 1,106.5 $ 1,044.7 $ 1,060.5 Total $ 3,841.7 $ 3,669.9 $ 3,628.4 MillerKnoll, Inc.: Workplace $ 1,510.2 $ 1,428.5 $ 1,391.8 Performance Seating 849.0 811.2 779.5 Lifestyle 1,264.0 1,213.7 1,240.3 Other 218.5 216.5 216.8 Total MillerKnoll, Inc. $ 3,841.7 $ 3,669.9 $ 3,628.4

DisaggregationOfRevenueTableTextBlock

"Stock-Based Compensation The Company utilizes stock-based compensation incentives as a component of its employee and non-employee director and officer compensation philosophy. A committee of the Board of Directors determines the terms of the awards granted and may grant various forms of equity-based incentive compensation. Currently, these incentives consist principally of stock options, restricted stock units, performance stock units, deferred stock units, and restricted shares. For all stock-based compensation plans, the Company issues authorized but unissued shares to fulfill plan terms. Since the inception of the employee stock purchase plan, 5,500,000 shares of common stock have been authorized for issuance and 1,276,552 shares remain available for future purchases as of May 30, 2026. At May 30, 2026, there were 19,864,945 shares authorized for issuance under active long-term incentive compensation plans: 7,182,670 and 12,682,275 shares authorized under the MillerKnoll, Inc. 2020 Long Term Incentive Plan and the MillerKnoll, Inc. 2023 Long-Term Incentive Plan (jointly referred to as the ""LTIP""), respectively. There were 6,540,967 shares available for issuance under the LTIP as of May 30, 2026. Valuation and Expense Information The Company measures the cost of employee services received in exchange for an award of equity instruments based on the fair value of the award on the date of grant. This compensation expense is recognized over the requisite service period, whic …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

"Fair Value Measurements The Company's financial instruments consist of cash equivalents, accounts and notes receivable, deferred compensation plan, accounts payable, debt, interest rate swaps, and foreign currency exchange contracts. The Company's financial instruments, other than long-term debt, accounts receivable, and accounts payable, are recorded at fair value. The carrying value and fair value of the Company's long-term debt, including current maturities, is as follows for the periods indicated: (In millions) May 30, 2026 May 31, 2025 Carrying value $ 1,294.6 $ 1,337.0 Fair value (1) $ 1,294.7 $ 1,330.7 (1) The fair value was estimated based on a discounted cash flow method (Level 2). The following describes the methods the Company uses to estimate the fair value of financial assets and liabilities recorded in net earnings, which have not significantly changed in the current period: Cash equivalents The Company invests excess cash in short term investments in the form of money market funds, which are valued using net asset value (""NAV""). Deferred compensation plan The Company's deferred compensation plan primarily includes various domestic and international mutual funds that are recorded at fair value using quoted prices for similar securities. Foreign currency exchange contracts The Company's foreign currency exchange contracts are valued using an approach based on foreign currency exchange rates obtained from active markets. The estimated fair value of forward curr …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

"Income Taxes The components of earnings (loss) before income taxes are as follows: (In millions) 2026 2025 2024 Domestic $ 16.2 $ (132.8) $ (24.8) Foreign 112.0 110.9 124.5 Total $ 128.2 $ (21.9) $ 99.7 The provision (benefit) for income taxes consists of the following: (In millions) 2026 2025 2024 Current: Domestic - Federal $ 1.2 $ 15.8 $ 10.8 Domestic - State 6.2 5.9 7.4 Foreign 36.6 34.7 34.6 44.0 56.4 52.8 Deferred: Domestic - Federal 1.6 (28.4) (22.2) Domestic - State (3.1) (6.1) (6.5) Foreign (10.1) (10.3) (9.4) (11.6) (44.8) (38.1) Total income tax provision $ 32.4 $ 11.6 $ 14.7 During fiscal 2026, the Company incurred net operation losses (""NOL"") of $13.8 million in certain foreign jurisdictions, the majority of which were in the United Kingdom and Mexico, resulting in a deferred tax asset of $3.7 million related to the current-year build of foreign NOL carryforwards. This amount is included in the deferred tax benefit above. The Company expects to utilize these carryforwards in future periods based on projected taxable income and has not recorded a valuation allowance against this asset. The following table represents a reconciliation of the U.S. federal statutory rate of 21.0% to the Company's effective rate for fiscal 2026, in accordance with our adoption of ASU 2023-09: (In millions) 2026 U.S. Federal Statutory Tax Rate $26.9 21.0 % United States State and Local Income Taxes ** 2.5 2.0 % Domestic Federal Effect of Cross-Border Tax Laws Foreign Derived Intangib …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Leases The Company has leases for retail stores, showrooms, manufacturing facilities, warehouses and vehicles, which expire at various dates through 2042. Certain lease agreements include contingent rental payments based on per unit usage over a contractual amount and others include rental payments adjusted periodically for inflationary indexes. The Company's lease costs recognized in the Consolidated Statements of Comprehensive Income consist of the following: Year Ended Year Ended (In millions) May 30, 2026 May 31, 2025 Operating lease costs $ 96.3 $ 90.7 Short-term lease costs 4.6 5.2 Variable lease costs 16.5 16.7 Total $ 117.4 $ 112.6 The Company has financing lease agreements that expire from fiscal 2027 to fiscal 2030. As of May 30, 2026, the Company had financing lease liabilities of $0.9 million. The leases have initial lease terms that range from 3 to 6 years, with certain agreements containing renewal options. The undiscounted annual future minimum lease payments related to the Company's right-of-use assets are summarized by fiscal year in the following table: (In millions) 2027 $ 111.8 2028 100.0 2029 89.9 2030 82.5 2031 70.6 Thereafter 166.8 Total lease payments* $ 621.6 Less interest 105.8 Present value of lease liabilities $ 515.8 *Lease payments exclude $73.5 million of legally binding minimum lease payments for leases signed but not yet commenced. Supplemental cash flow and other lease information as of and for periods indicated, includes (dollars in millions …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Recently Adopted Accounting Standards ASU 2023-09, Income Taxes (Topic 740): Improvements to Tax Disclosures. In December 2023, the FASB issued this ASU which expands disclosures in an entitys income tax rate reconciliation table and regarding cash taxes paid both in the U.S. and foreign jurisdictions. The Company adopted ASU 2023-09 for the fiscal year ended May 30, 2026. The modified disclosure requirements of this ASU were applied on a prospective basis and are reflected in Note 10 Income Taxes in the accompanying notes to the consolidated statements. Recently Issued Accounting Standards Not Yet Adopted ASU 2024-03, Income StatementReporting Comprehensive IncomeExpense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. In November 2024, the FASB issued this ASU which requires disclosure on an annual and interim basis, in the notes to the financial statements, of disaggregated information about specific categories underlying certain income statement expense line items. In January 2025, the FASB additionally issued ASU 2025-01, which clarified the effective date of ASU 2024-03 for entities that do not have a calendar year-end. The update will be effective in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company expects the adoption of this guidance will modify our disclosures, but we do not expect it t …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"Restructuring and Integration Expense As part of restructuring and integration activities, the Company has incurred expenses that qualify as exit and disposal costs under U.S. GAAP. These include severance and employee benefit costs as well as other direct separation benefit costs, expenses incurred related to the facilities consolidation plan, and right of use asset impairment charges. Severance and employee benefit costs primarily relate to cash severance, as well as non-cash severance, including accelerated equity award compensation expense. The Company also incurred expenses that are an integral component of, and directly attributable to, our restructuring and integration activities, which do not qualify as exit and disposal costs under U.S. GAAP. These include integration implementation costs that relate primarily to professional fees and non-cash losses incurred on debt extinguishment, and accelerated depreciation of fixed assets. The expense associated with integration initiatives are included in Selling, General, and Administrative and the expense associated with restructuring activities are included in Cost of sales or Restructuring expense in the Consolidated Statements of Comprehensive Income. Restructuring expense recorded within Cost of sales totaled $1.6 million for the twelve months ended May 30, 2026. Amounts recorded within Restructuring expense, which is a component of Operating expenses totaled $11.9 million for the twelve months ended May 30, 2026. There …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Revenue from Contracts with Customers Disaggregated Revenue The Company internally reports and evaluates performance based on product categories. These categories include Workplace, Performance Seating, Lifestyle, and Other. A description of these categories is included below. The Workplace category includes products centered on creating highly functional and productive settings for both groups and individuals. This category focuses on the development of products, beyond seating, that define boundaries, support work, and enable productivity. The Performance Seating category includes products centered on seating ergonomics, productivity, and function across an evolving and diverse range of settings. This category focuses on the development of ergonomic seating solutions for specific use cases requiring more than basic utility. The Lifestyle category includes products focused on bringing spaces to life through beautiful yet functional products. This category focuses on the development of products that support a way of living, in thoughtful yet elevated ways. The products in this category help create emotive and visually appealing spaces via a portfolio that offers diversity in aesthetics, price, and performance. The Other category primarily consists of textiles and uncategorized product sales, and service sales. Revenue disaggregated by product type and reportable segment is provided in the table below: Year Ended (In millions) May 30, 2026 May 31, 2025 June 1, 2024 North Ameri …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"Operating Segments The Company's operations are managed and evaluated around the organization and alignment of internal operations, the nature of our products, and geographical location. Effective on March 1, 2025, the last day of the third quarter of fiscal year 2025, the Company implemented an organizational change that resulted in a change in reportable segments. The Company has restated historical results to reflect this change. Under our new reportable segments, there are three reportable segments consisting of North America Contract, International Contract and Global Retail. The North America Contract segment includes the operations associated with the design, sourcing, manufacture and sale of furniture products directly or indirectly through an independent dealership network for office, healthcare, and educational environments throughout the United States and Canada as well as the global operations of the Spinneybeck, FilzFelt, Maharam, Edelman, and Knoll Textile brands. The International Contract segment includes the operations associated with the design, sourcing, manufacture and sale of furniture products, indirectly or directly through an independent dealership network for office, healthcare, and educational environments in Europe, the Middle East, Africa, Asia-Pacific and Latin America. The Global Retail segment includes global operations associated with the sale of modern design furnishings and accessories to third party retailers, as well as direct to consumer …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"Significant Accounting and Reporting Policies The following is a summary of significant accounting and reporting policies not reflected elsewhere in the accompanying financial statements. Principles of Consolidation The Consolidated Financial Statements include the accounts of MillerKnoll, Inc. and its controlled domestic and foreign subsidiaries. The consolidated entities are collectively referred to as the Company. All intercompany accounts and transactions have been eliminated in the Consolidated Financial Statements. Description of Business The Company researches, designs, manufactures, sells and distributes interior furnishings for use in various environments including office, healthcare, educational and residential settings and provides related services that support companies all over the world. The Company's products are sold primarily through independent contract furniture dealers, retail studios, the Company's eCommerce platforms, direct-mail catalogs, as well as direct customer sales and independent retailers. MillerKnoll is a collective of dynamic brands that comes together to design the world we live in. A global leader in design, MillerKnoll includes Herman Miller and Knoll, as well as Colebrook Bosson Saunders, Design Within Reach, Edelman, FilzFelt, Geiger, HAY, Holly Hunt, KnollTextiles, Maharam, Muuto, NaughtOne, and Spinneybeck. Combined, MillerKnoll represents over 100 years of design research and exploration in service of humanity. The Company is united b …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

"Short-Term Borrowings and Long-Term Debt Short-term borrowings and long-term debt as of February 28, 2026, and May 31, 2025, consisted of the following: (In millions) February 28, 2026 May 31, 2025 Syndicated revolving line of credit, due April 2030 $ 293.5 $ 330.8 Term Loan A, 5.4230%, due April 2030 395.0 400.0 Term Loan B, 5.6730%, due August 2032 548.6 603.1 Accounts Receivable Securitization Facility, 4.7423% due September 2028 70.2 Supplier financing program 1.8 2.0 Finance lease liability 1.0 1.1 Total debt $ 1,310.1 $ 1,337.0 Less: Unamortized discount and issuance costs (9.3) (10.4) Less: Current debt (22.6) (16.0) Long-term debt $ 1,278.2 $ 1,310.6 In connection with the acquisition of Knoll, in July 2021, the Company entered into a credit agreement that provided for a syndicated revolving line of credit (the ""Revolver"") and two term loans. The Revolver provided the Company with up to $725.0 million in revolving variable rate interest borrowing capacity that matured in July 2026, replacing the previous $500.0 million syndicated revolving line of credit. The term loans consisted of a five-year senior secured Term Loan "" A"" facility with an aggregate principal amount of $400.0 million and a seven-year senior secured Term Loan ""B"" facility with an aggregate principal amount of $625.0 million, the proceeds of which were used to finance a portion of the cash consideration for the acquisition of Knoll, for the repayment of certain debt of Knoll, and to pay fees, co …

DebtDisclosureTextBlock · excerpt; the full note is in the filing

Revenue disaggregated by product type and reportable segment is provided in the table below: Three Months Ended Nine Months Ended (In millions) February 28, 2026 March 1, 2025 February 28, 2026 March 1, 2025 North America Contract: Workplace $ 309.0 $ 296.7 $ 973.5 $ 921.5 Performance Seating 85.3 75.7 262.3 243.9 Lifestyle 48.7 50.1 157.7 166.9 Other 45.6 45.7 137.5 136.8 Total North America Contract $ 488.6 $ 468.2 $ 1,531.0 $ 1,469.1 International Contract Workplace $ 42.8 $ 38.8 $ 137.1 $ 132.4 Performance Seating 67.9 60.0 208.2 200.7 Lifestyle 41.5 35.5 129.7 118.7 Other 4.7 11.2 20.3 22.5 Total International Contract $ 156.9 $ 145.5 $ 495.3 $ 474.3 Global Retail: Workplace $ 2.6 $ 2.5 $ 6.7 $ 7.2 Performance Seating 60.9 57.0 162.8 154.0 Lifestyle 217.1 201.5 640.1 601.4 Other 0.5 1.5 1.6 2.1 Total Global Retail $ 281.1 $ 262.5 $ 811.2 $ 764.7 Total $ 926.6 $ 876.2 $ 2,837.5 $ 2,708.1 MillerKnoll, Inc.: Workplace $ 354.4 $ 338.0 $ 1,117.3 $ 1,061.1 Performance Seating 214.1 192.7 633.3 598.6 Lifestyle 307.3 287.1 927.5 887.0 Other 50.8 58.4 159.4 161.4 Total MillerKnoll, Inc. $ 926.6 $ 876.2 $ 2,837.5 $ 2,708.1

DisaggregationOfRevenueTableTextBlock

Stock-Based Compensation The following table summarizes the stock-based compensation expense and related income tax effect for the periods indicated: Three Months Ended Nine Months Ended (In millions) February 28, 2026 March 1, 2025 February 28, 2026 March 1, 2025 Stock-based compensation expense $ 5.9 $ 6.1 $ 21.0 $ 24.0 Related income tax effect $ 1.4 $ 1.5 $ 5.1 $ 5.9 Certain of the Company's equity-based compensation awards contain provisions that allow for continued vesting into retirement. Stock-based awards are considered fully vested for expense attribution purposes when the employee's retention of the award is no longer contingent on providing subsequent service. Stock-based compensation expense is recorded within Selling, general and administrative expenses on the Condensed Consolidated Statements of Comprehensive Income (Loss).

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock

"Fair Value Measurements The Company's financial instruments consist of cash equivalents, accounts and notes receivable, deferred compensation plans, accounts payable, debt, interest rate swaps, and foreign currency exchange contracts. The Company's financial instruments, other than long-term debt, are recorded at fair value. The carrying value and fair value of the Company's total debt is as follows for the periods indicated: (In millions) February 28, 2026 May 31, 2025 Carrying value $ 1,310.1 $ 1,337.0 Fair value $ 1,318.8 $ 1,330.7 The following describes the methods the Company uses to estimate the fair value of financial assets and liabilities recorded in net earnings, which have not significantly changed in the current period: Cash and cash equivalents The Company invests excess cash in short term investments in the form of money market funds, which are valued using net asset value (""NAV""). Deferred compensation plan The Company's deferred compensation plan primarily includes various domestic and international equity and fixed income mutual funds that are recorded at fair value using quoted prices for similar securities. Foreign currency exchange contracts The Company's foreign currency exchange contracts are valued using an approach based on foreign currency exchange rates obtained from active markets. The estimated fair value of forward currency exchange contracts is based on month-end spot rates as adjusted by market-based current activity. These forward contracts …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

"Goodwill and Indefinite-Lived Intangibles Changes in the carrying amount of goodwill, by reportable segment, were as follows: (In millions) North America Contract (1) International Contract Global Retail (2) Total Balance at May 31, 2025 $ 590.8 $ 159.1 $ 402.5 $ 1,152.4 Foreign currency translation adjustments 6.2 2.7 5.9 14.8 Balance at February 28, 2026 $ 597.0 $ 161.8 $ 408.4 $ 1,167.2 (1) North America Contract segment had accumulated goodwill impairments of $36.7 million as of February 28, 2026, and May 31, 2025. (2) Global Retail segment had accumulated goodwill impairments of $181.1 million as of February 28, 2026, and May 31, 2025. Other indefinite-lived assets included in the Consolidated Balance Sheets consist of the following: (In millions) Indefinite-lived Intangible Assets May 31, 2025 $ 432.5 Foreign currency translation adjustments 4.4 February 28, 2026 $ 436.9 Goodwill Goodwill is tested for impairment at the reporting unit level annually, or more frequently when events or changes in circumstances indicate that the fair value of a reporting unit has more likely than not declined below its carrying value. When testing goodwill for impairment, the Company may first assess qualitative factors. If an initial qualitative assessment identifies that it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value, additional quantitative testing is performed. The Company may also elect to bypass the qualitative testing and pro …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Income Taxes The Company's process for determining the provision for income taxes for the three and nine months ended February 28, 2026, involved using an estimated annual effective tax rate which was based on expected annual income and statutory tax rates across the various jurisdictions in which it operates. The effective tax rates were 19.2% and 88.3%, respectively, for the three month periods ended February 28, 2026, and March 1, 2025. The year over year change in the effective tax rate for the three months ended February 28, 2026, resulted from the current year quarter reflecting favorable discrete impacts from return to provision true-ups related mainly to the United States research and development credit and the prior quarter having impacts from the impairment of indefinite-lived intangible assets. For the three months ended February 28, 2026, the effective rate is lower than the United States federal statutory rate due to favorable discrete impacts from return to provision true-ups related mainly to the United States research and development credit. For the three months ended March 1, 2025, the effective rate is higher than the United States federal statutory rate due to impacts from the impairment of indefinite-lived intangible assets. The effective tax rates were 22.7% and 139.4%, respectively, for the nine months ended February 28, 2026, and March 1, 2025. The year over year change in the effective tax rate for the nine months ended February 28, 2026 resulted from …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Recently Issued Accounting Standards Not Yet Adopted ASU 2023-09, Income Taxes (Topic 740): Improvements to Tax Disclosures. In December 2023, the FASB issued this ASU which expands disclosures in an entitys income tax rate reconciliation table and regarding cash taxes paid both in the U.S. and foreign jurisdictions. The update will be effective for annual periods beginning after December 15, 2024. The Company expects the adoption of this guidance will modify our disclosures, but we do not expect it to have a material effect on our financial position, results of operations, or cash flows. The Company will adopt ASU 2023-09 prospectively in its fiscal year ending May 30, 2026. ASU 2024-03, Income StatementReporting Comprehensive IncomeExpense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. In November 2024, the FASB issued this ASU which requires disclosure on an annual and interim basis, in the notes to the financial statements, of disaggregated information about specific categories underlying certain income statement expense line items. In January 2025, the FASB additionally issued ASU 2025-01, which clarified the effective date of ASU 2024-03 for entities that do not have a calendar year-end. The update will be effective in annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027, with early adoption permitted. The Company expects the adoption …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"Restructuring and Integration Expense As part of restructuring and integration activities the Company has incurred expenses that qualify as exit and disposal costs under U.S. GAAP. These include severance and employee benefit costs as well as other direct separation benefit costs, expenses incurred related to the facilities consolidation plan, right of use asset impairment charges and fixed asset impairment charges. Severance and employee benefit costs primarily relate to cash severance, as well as non-cash severance, including accelerated equity award compensation expense. The Company also incurred expenses that are an integral component of, and directly attributable to, our restructuring and integration activities, which do not qualify as exit and disposal costs under U.S. GAAP. These include integration implementation costs that relate primarily to professional fees, non-cash losses incurred on debt extinguishment, and accelerated depreciation of fixed assets. The expense associated with integration initiatives are included in Selling, general and administrative and the expenses associated with restructuring activities are included in Cost of sales or Restructuring expense in the Condensed Consolidated Statements of Comprehensive Income. Restructuring expenses recorded within Cost of sales totaled $0.3 million and $0.4 million for the three and nine months ended February 28, 2026. Restructuring expenses recorded within Restructuring expense totaled $1.9 million and $3.8 m …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Revenue from Contracts with Customers Disaggregated Revenue The Company internally reports and evaluates products based on the categories Workplace, Performance Seating, Lifestyle, and Other. A description of these categories is included below. The Workplace category includes products centered on creating highly functional and productive settings for both groups and individuals. This category focuses on the development of products, beyond seating, that define boundaries, support work, and enable productivity. The Performance Seating category includes products centered on seating ergonomics, productivity, and function across an evolving and diverse range of settings. This category focuses on the development of ergonomic seating solutions for specific use cases requiring more than basic utility. The Lifestyle category includes products focused on bringing spaces to life through beautiful yet functional products. This category focuses on the development of products that support a way of living, in thoughtful yet elevated ways. The products in this category help create emotive and visually appealing spaces via a portfolio that offers diversity in aesthetics, price, and performance. The Other category primarily consists of textiles, uncategorized product sales, and service sales. Revenue disaggregated by product type and reportable segment is provided in the table below: Three Months Ended Nine Months Ended (In millions) February 28, 2026 March 1, 2025 February 28, 2026 March 1, 2 …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

"Operating Segments The Company's operations are managed and evaluated around the organization and alignment of internal operations and geographical location. Effective on March 1, 2025, the last day of the third quarter of fiscal year 2025, the Company implemented an organizational change that resulted in a change in reportable segments. The Company has restated historical results to reflect this change. Under our new reportable segments, there are three reportable segments consisting of North America Contract, International Contract and Global Retail. The North America Contract segment includes the operations associated with the design, sourcing, manufacture, and sale of furniture products directly or indirectly through an independent dealership network for office, healthcare, and educational environments throughout the United States and Canada as well as the global operations of the Spinneybeck|FilzFelt, Maharam, Edelman, and Knoll Textile brands. The International Contract segment includes the operations associated with the design, sourcing, manufacture, and sale of furniture products directly or indirectly through an independent dealership network in Europe, the Middle East, Africa, Asia-Pacific, and Latin America. The Global Retail segment includes global operations associated with the sale of modern design furnishings and accessories to third party retailers, as well as direct to consumer sales through eCommerce, direct-mail catalogs, and physical retail stores, along …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing