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Millerknoll, Inc. (MLKN) SEC Filing 10-Q Quarterly Report for the period ending Saturday, November 27, 2021

Millerknoll, Inc.

CIK: 66382 Ticker: MLKN

MillerKnoll, Inc. Reports Second Quarter Fiscal 2022 Results
Strong demand drove quarterly orders of $1.2 billion; an increase of 83.9% over the prior year, up 26.4%* organically
Our diversified go-to-market strategy helped drive growth in every segment
Integration of the Knoll acquisition is progressing as planned; we remain confident in our ability to deliver $100 million of run rate cost synergies within two years of the closing, and now expect $120 million by the end of year three

Webcast to be held Tuesday, January 4, 2022, at 5:30 PM ET

ReleaseImmediate
DateJanuary 4, 2022
ContactAntonella Pilo (215) 679-1535 or antonella_pilo@knoll.com
Jeff Stutz (616) 654-8538 or jeff_stutz@hermanmiller.com
Media (616) 654-5977 or media_relations@hermanmiller.com
AddressMillerKnoll, Inc., 855 East Main Avenue, PO Box 302, Zeeland, MI 49464-0302
Internetwww.millerknoll.com

Second Quarter Fiscal 2022 Financial Results
(Unaudited)(Unaudited)
Three Months EndedSix Months Ended
(Dollars in millions, except per share data)November 27, 2021November 28, 2020% Chg.November 27, 2021November 28, 2020% Chg.
Net Sales$1,026.3 $626.3 63.9 %$1,816.0 $1,253.0 44.9 %
Gross Margin %34.2 %39.0 %N/A34.6 %39.4 %N/A
Adjusted Gross Margin %*34.6 %39.0 %N/A35.2 %39.5 %N/A
Operating Expenses$346.8 $173.2 100.2 %$677.1 $327.8 106.6 %
Adjusted Operating Expenses*$294.4 $170.8 72.4 %$529.6 $326.6 62.2 %
Operating Earnings (Loss) %0.4 %11.3 %N/A(2.7)%13.3 %N/A
Adjusted Operating Earnings %*5.9 %11.7 %N/A6.0 %13.5 %N/A
Net (Loss) Earnings Attributable to MillerKnoll, Inc.$(3.4)$51.3 N/A$(64.9)$124.2 N/A
(Loss) Earnings Per Share – Diluted$(0.05)$0.87 N/A$(0.92)$2.10 N/A
Adjusted Earnings Per Share – Diluted*$0.51 $0.89 (42.7)%$1.00 $2.13 (53.1)%
Orders$1,157.9 $629.7 83.9 %$2,074.4 $1,185.7 75.0 %
Backlog$967.3 $403.4 139.8 %
*Items indicated represent Non-GAAP measurements; see the reconciliations of Non-GAAP financial measures and related explanations below.




1

The following information was filed by Millerknoll, Inc. (MLKN) on Tuesday, January 4, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Millerknoll, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Stockholders' Equity
Condensed Consolidated Statements Of Stockholders' Equity (Parenthetical)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Details)
Accumulated Other Comprehensive Loss (Tables)
Acquisitions
Acquisitions (Tables)
Acquisitions - Additional Information (Details)
Acquisitions - Schedule Of Business Acquisition, Pro Forma Information (Details)
Acquisitions - Schedule Of Business Acquisitions By Acquisition, Fair Value Of Consideration Transferred (Details)
Acquisitions - Schedule Of Condensed Statement Of Comprehensive Income (Details)
Acquisitions - Schedule Of Finite-Lived And Indefinite-Lived Intangible Assets Acquired As Part Of Business Combination (Details)
Acquisitions - Schedule Of Recognized Identified Assets Acquired And Liabilities Assumed (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Additional Information (Details)
Commitments And Contingencies - Schedule Of Product Warranty Liability (Details)
Description Of Business
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Schedule Of Calculation Of Numerator And Denominator In Earnings Per Share (Details)
Employee Benefit Plans
Employee Benefit Plans (Details)
Employee Benefit Plans (Tables)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Additional Information (Details)
Fair Value Measurements - Fair Value Hierarchy (Details)
Fair Value Measurements - Interest Rate Swap (Details)
Fair Value Measurements - Redeemable Noncontrolling Interests (Details)
Fair Value Measurements - Schedule Of Long-Term Debt (Details)
Fair Value Measurements - Unrealized Gain (Loss) On Investments (Details)
Goodwill And Indefinite-Lived Intangibles
Goodwill And Indefinite-Lived Intangibles (Tables)
Goodwill And Indefinite-Lived Intangibles - Additional Information (Details)
Goodwill And Indefinite-Lived Intangibles - Schedule Of Goodwill And Indefinite-Lived Intangibles (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Additional Information (Details)
Income Taxes - Schedule Of Uncertain Tax Positions (Details)
Inventories, Net
Inventories, Net (Tables)
Inventories, Net - Additional Information (Details)
Inventories, Net - Schedule Of Inventory, Current (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases - Summary Of Future Estimated Minimum Lease Payments (Details)
Leases - Summary Of Lease Expense Components (Details)
Leases - Summary Of Supplemental Cash Flow And Other Information (Details)
Operating Segments
Operating Segments (Details)
Operating Segments (Tables)
Recently Issued Accounting Standards
Recently Issued Accounting Standards (Policies)
Recently Issued Accounting Standards (Tables)
Restructuring And Integration Expense
Restructuring And Integration Expense (Tables)
Restructuring And Integration Expense - Additional Information (Details)
Restructuring And Integration Expense - Schedule Of Restructuring Rollforward (Details)
Revenue From Contracts With Customers
Revenue From Contracts With Customers (Tables)
Revenue From Contracts With Customers - Contract Assets And Contract Liabilities (Details)
Revenue From Contracts With Customers - Revenue Disaggregated By Contract Type (Details)
Revenue From Contracts With Customers - Revenue Disaggregated By Product Type And Reportable Segment (Details)
Short-Term Borrowings And Long-Term Debt
Short-Term Borrowings And Long-Term Debt (Tables)
Short-Term Borrowings And Long-Term Debt - Additional Information (Details)
Short-Term Borrowings And Long-Term Debt - Schedule Of Line Of Credit Facilities (Details)
Short-Term Borrowings And Long-Term Debt - Schedule Of Long Term Debt Instruments (Details)
Stock-Based Compensation
Stock-Based Compensation (Details)
Stock-Based Compensation (Tables)
Variable Interest Entities
Variable Interest Entities (Details)
Ticker: MLKN
CIK: 66382
Form Type: 10-Q Quarterly Report
Accession Number: 0000066382-22-000013
Submitted to the SEC: Wed Jan 05 2022 4:06:20 PM EST
Accepted by the SEC: Wed Jan 05 2022
Period: Saturday, November 27, 2021
Industry: Office Furniture

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