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Millerknoll, Inc. (MLKN) SEC Filing 10-Q Quarterly Report for the period ending Saturday, February 26, 2022

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Millerknoll, Inc.

CIK: 66382 Ticker: MLKN

MillerKnoll, Inc. Reports Third Quarter Fiscal 2022 Results
Strong demand drove quarterly orders of $1.1 billion; an increase of 93.6% over the prior year, up 31.5% organically
Sales and order growth across all segments was driven by leveraging a global infrastructure and collective of brands
Integration of the Knoll acquisition, which closed July 19, 2021, continues to progress as planned; MillerKnoll remains confident in its ability to deliver $120 million of run rate cost synergies within three years of closing

Webcast to be held Tuesday, March 29, 2022, at 5:30 PM ET

ReleaseImmediate
DateMarch 29, 2022
ContactJeff 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

Third Quarter Fiscal 2022 Financial Results
(Unaudited)(Unaudited)
Three Months EndedNine Months Ended
(Dollars in millions, except per share data)February 26, 2022February 27, 2021% Chg.February 26, 2022February 27, 2021% Chg.
Net Sales$1,029.5 $590.5 74.3 %$2,845.5 $1,843.6 54.3 %
Gross Margin %32.7 %39.1 %N/A33.9 %39.3 %N/A
Adjusted Gross Margin %*32.9 %39.1 %N/A34.4 %39.4 %N/A
Operating Expenses$310.3 $175.8 76.5 %$987.4 $503.7 96.0 %
Adjusted Operating Expenses*$298.9 $175.5 70.3 %$828.4 $502.2 65.0 %
Operating Earnings (Loss) %2.6 %9.3 %N/A(0.8)%12.0 %N/A
Adjusted Operating Earnings %*4.0 %9.4 %N/A5.3 %12.2 %N/A
Net Earnings (Loss) Attributable to MillerKnoll, Inc.$12.6 $41.5 (69.6)%$(52.3)$165.7 (131.6)%
Earnings (Loss) Per Share – Diluted$0.16 $0.70 (77.1)%$(0.72)$2.80 (125.7)%
Adjusted Earnings Per Share – Diluted*$0.28 $0.65 (56.9)%$1.28 $2.78 (54.0)%
Orders$1,095.9 $566.1 93.6 %$3,170.2 $1,751.9 81.0 %
Backlog$1,020.6 $379.0 169.3 %
*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, March 29, 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
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 And Divestitures
Acquisitions And Divestitures (Tables)
Acquisitions And Divestitures - Additional Information (Details)
Acquisitions And Divestitures - Schedule Of Business Acquisition, Pro Forma Information (Details)
Acquisitions And Divestitures - Schedule Of Business Acquisitions By Acquisition, Fair Value Of Consideration Transferred (Details)
Acquisitions And Divestitures - Schedule Of Condensed Statement Of Comprehensive Income (Details)
Acquisitions And Divestitures - Schedule Of Finite-Lived And Indefinite-Lived Intangible Assets Acquired As Part Of Business Combination (Details)
Acquisitions And Divestitures - 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
Description Of Business (Details)
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)

Material Contracts, Statements, Certifications & more

Millerknoll, Inc. provided additional information to their SEC Filing as exhibits

Ticker: MLKN
CIK: 66382
Form Type: 10-Q Quarterly Report
Accession Number: 0000066382-22-000023
Submitted to the SEC: Wed Apr 06 2022 4:00:59 PM EST
Accepted by the SEC: Wed Apr 06 2022
Period: Saturday, February 26, 2022
Industry: Office Furniture

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