$MLKN
MILLERKNOLL, INC.

2023 Q4 Form 10-Q Financial Statement

#000006638223000081 Filed on October 11, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $949.5M $917.7M
YoY Change -11.0% -14.93%
Cost Of Revenue $577.5M $559.6M
YoY Change -17.42% -20.82%
Gross Profit $372.0M $358.1M
YoY Change 1.2% -3.76%
Gross Profit Margin 39.18% 39.02%
Selling, General & Admin $287.6M $290.5M
YoY Change -1.1% -2.16%
% of Gross Profit 77.31% 81.12%
Research & Development $22.20M $22.10M
YoY Change -5.13% -7.53%
% of Gross Profit 5.97% 6.17%
Depreciation & Amortization $37.40M $37.20M
YoY Change -1.84% -6.06%
% of Gross Profit 10.05% 10.39%
Operating Expenses $311.6M $317.8M
YoY Change -0.83% 2.62%
Operating Profit $60.40M $40.30M
YoY Change 13.11% -35.42%
Interest Expense $19.80M $19.20M
YoY Change -212.5% -217.79%
% of Operating Profit 32.78% 47.64%
Other Income/Expense, Net $2.400M -$2.200M
YoY Change 380.0% -87.13%
Pretax Income $44.30M $21.10M
YoY Change 105.09% -37.39%
Income Tax $9.500M $5.100M
% Of Pretax Income 21.44% 24.17%
Net Earnings $33.50M $16.70M
YoY Change 109.38% -35.27%
Net Earnings / Revenue 3.53% 1.82%
Basic Earnings Per Share $0.45 $0.22
Diluted Earnings Per Share $0.45 $0.22
COMMON SHARES
Basic Shares Outstanding 73.48M shares 75.70M shares
Diluted Shares Outstanding 74.24M shares 75.71M shares

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $225.8M $217.5M
YoY Change 14.33% 0.79%
Cash & Equivalents $225.8M $217.5M
Short-Term Investments
Other Short-Term Assets $8.900M $7.600M
YoY Change -93.01% -94.04%
Inventory $448.2M $473.2M
Prepaid Expenses $82.00M $76.30M
Receivables $319.9M $298.0M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.114B $1.098B
YoY Change -14.93% -17.54%
LONG-TERM ASSETS
Property, Plant & Equipment $517.9M $529.9M
YoY Change -46.16% -45.8%
Goodwill $1.228B $1.224B
YoY Change 2.18%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $133.5M $146.5M
YoY Change 12.28% -93.15%
Total Long-Term Assets $3.041B $3.086B
YoY Change -3.09% -0.99%
TOTAL ASSETS
Total Short-Term Assets $1.114B $1.098B
Total Long-Term Assets $3.041B $3.086B
Total Assets $4.156B $4.183B
YoY Change -6.58% -5.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $250.7M $252.0M
YoY Change -10.97% -16.89%
Accrued Expenses $331.4M $318.7M
YoY Change -7.97% -27.75%
Deferred Revenue $92.90M $97.50M
YoY Change -16.24%
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $38.80M $36.30M
YoY Change 34.72% 26.48%
Total Short-Term Liabilities $713.8M $704.5M
YoY Change -7.68% -8.86%
LONG-TERM LIABILITIES
Long-Term Debt $1.278B $1.299B
YoY Change -10.91% -12.5%
Other Long-Term Liabilities $264.9M $265.3M
YoY Change -62.11% -62.87%
Total Long-Term Liabilities $264.9M $265.3M
YoY Change -87.59% -87.93%
TOTAL LIABILITIES
Total Short-Term Liabilities $713.8M $704.5M
Total Long-Term Liabilities $264.9M $265.3M
Total Liabilities $2.625B $2.653B
YoY Change -12.89% -13.65%
SHAREHOLDERS EQUITY
Retained Earnings $698.6M $678.7M
YoY Change -3.77%
Common Stock $14.60M $14.90M
YoY Change -1.32%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.421B $1.422B
YoY Change
Total Liabilities & Shareholders Equity $4.156B $4.183B
YoY Change -6.58% -5.94%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $33.50M $16.70M
YoY Change 109.38% -35.27%
Depreciation, Depletion And Amortization $37.40M $37.20M
YoY Change -1.84% -6.06%
Cash From Operating Activities $82.50M $130.9M
YoY Change 38.66% -302.01%
INVESTING ACTIVITIES
Capital Expenditures $20.00M $19.90M
YoY Change -186.96% -215.03%
Acquisitions
YoY Change
Other Investing Activities $5.000M -$100.0K
YoY Change 316.67% -99.02%
Cash From Investing Activities -$15.00M -$26.30M
YoY Change -31.19% 157.84%
FINANCING ACTIVITIES
Cash Dividend Paid $14.20M
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -59.70M -$111.1M
YoY Change -8.72% -244.29%
NET CHANGE
Cash From Operating Activities 82.50M $130.9M
Cash From Investing Activities -15.00M -$26.30M
Cash From Financing Activities -59.70M -$111.1M
Net Change In Cash 7.800M -$6.000M
YoY Change -128.16% -400.0%
FREE CASH FLOW
Cash From Operating Activities $82.50M $130.9M
Capital Expenditures $20.00M $19.90M
Free Cash Flow $62.50M $111.0M
YoY Change -24.24% -333.68%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2023Q3 us-gaap Interest Expense
InterestExpense
19200000 usd
us-gaap Interest Expense
InterestExpense
16700000 usd
CY2023Q3 us-gaap Other Assets Current
OtherAssetsCurrent
7600000 usd
CY2023Q2 us-gaap Other Assets Current
OtherAssetsCurrent
9100000 usd
CY2023Q3 us-gaap Assets Current
AssetsCurrent
1097700000 usd
CY2023Q2 us-gaap Assets Current
AssetsCurrent
1176200000 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1585400000 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1570700000 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1055500000 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1034400000 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
529900000 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
536300000 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
399200000 usd
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
415900000 usd
CY2023Q3 us-gaap Goodwill
Goodwill
1223600000 usd
CY2023Q2 us-gaap Goodwill
Goodwill
1221700000 usd
CY2023Q3 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
481400000 usd
CY2023Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
480700000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
195000000.0 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
185200000 usd
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
304900000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
313100000 usd
CY2023Q3 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
146500000 usd
CY2023Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
130900000 usd
CY2023Q3 us-gaap Assets
Assets
4183200000 usd
CY2023Q2 us-gaap Assets
Assets
4274800000 usd
CY2023Q3 us-gaap Accounts Payable Current
AccountsPayableCurrent
252000000.0 usd
CY2023Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
269500000 usd
CY2023Q3 us-gaap Debt Current
DebtCurrent
36300000 usd
CY2023Q2 us-gaap Debt Current
DebtCurrent
33400000 usd
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
88100000 usd
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
61700000 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
75500000 usd
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
77100000 usd
CY2023Q3 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
20700000 usd
CY2023Q2 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
20800000 usd
CY2023Q3 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
97500000 usd
CY2023Q2 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
93800000 usd
CY2023Q3 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
134400000 usd
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
146500000 usd
CY2023Q3 us-gaap Liabilities Current
LiabilitiesCurrent
704500000 usd
CY2023Q2 us-gaap Liabilities Current
LiabilitiesCurrent
702800000 usd
CY2023Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1298800000 usd
CY2023Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1365100000 usd
CY2023Q3 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
7700000 usd
CY2023Q2 us-gaap Pension And Other Postretirement Defined Benefit Plans Liabilities Noncurrent
PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent
7500000 usd
CY2023Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
377000000.0 usd
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
393700000 usd
CY2023Q3 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
265300000 usd
CY2023Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
265500000 usd
CY2023Q3 us-gaap Liabilities
Liabilities
2653300000 usd
CY2023Q2 us-gaap Liabilities
Liabilities
2734600000 usd
CY2023Q3 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
107600000 usd
CY2023Q2 us-gaap Redeemable Noncontrolling Interest Equity Carrying Amount
RedeemableNoncontrollingInterestEquityCarryingAmount
107600000 usd
CY2023Q2 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2023Q3 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
0
CY2023Q3 us-gaap Common Stock Value
CommonStockValue
14900000 usd
CY2023Q3 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
812200000 usd
CY2023Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
678700000 usd
CY2023Q3 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-83500000 usd
CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1422300000 usd
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1432600000 usd
CY2023Q3 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
4183200000 usd
CY2023Q3 us-gaap Profit Loss
ProfitLoss
16100000 usd
CY2023Q3 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
37200000 usd
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
6400000 usd
CY2023Q3 us-gaap Other Amortization Of Deferred Charges
OtherAmortizationOfDeferredCharges
1200000 usd
CY2023Q3 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
0 usd
CY2023Q3 us-gaap Restructuring Charges
RestructuringCharges
5200000 usd
CY2023Q3 us-gaap Increase Decrease In Operating Assets
IncreaseDecreaseInOperatingAssets
-73300000 usd
CY2023Q3 us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
-4800000 usd
CY2023Q3 us-gaap Other Operating Activities Cash Flow Statement
OtherOperatingActivitiesCashFlowStatement
-3700000 usd
CY2023Q3 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
130900000 usd
CY2023Q3 us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
6500000 usd
CY2023Q3 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
19900000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17300000 usd
CY2023Q3 us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
0 usd
us-gaap Proceeds From Life Insurance Policies
ProceedsFromLifeInsurancePolicies
13500000 usd
CY2023Q3 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-100000 usd
CY2023Q3 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-26300000 usd
CY2023Q3 us-gaap Repayments Of Other Long Term Debt
RepaymentsOfOtherLongTermDebt
6600000 usd
CY2023Q3 us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
153100000 usd
CY2023Q3 us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
212500000 usd
CY2023Q3 us-gaap Payments Of Dividends
PaymentsOfDividends
14200000 usd
CY2023Q3 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
800000 usd
CY2023Q3 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
32000000.0 usd
CY2023Q3 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
300000 usd
CY2023Q3 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-111100000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
1432600000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
16700000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
11600000 usd
CY2023Q3 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
6400000 usd
CY2023Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
200000 usd
CY2023Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
900000 usd
CY2023Q3 us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
32000000.0 usd
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.1875
CY2023Q3 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
14100000 usd
CY2023Q3 us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
0 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
1422300000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
1427100000 usd
us-gaap Net Income Loss
NetIncomeLoss
25800000 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-57800000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5400000 usd
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1000000.0 usd
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
100000 usd
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
800000 usd
us-gaap Stock Repurchased And Retired During Period Value
StockRepurchasedAndRetiredDuringPeriodValue
14300000 usd
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.1875
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
14300000 usd
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
1000000.0 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
1374800000 usd
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
16700000 usd
CY2023Q3 us-gaap Fiscal Period
FiscalPeriod
The Company's fiscal year is the 52 or 53 week period ending on the Saturday closest to May 31. The fiscal year ending June 1, 2024 contains 52 weeks, while fiscal year ended June 3, 2023 ("fiscal 2023") contained 53 week. The first quarter of fiscal 2024 contained 13 weeks and the first quarter of fiscal 2023 contained 14 weeks.
CY2023Q3 mlkn Contract With Customer Liability Revenue Recognized In Period
ContractWithCustomerLiabilityRevenueRecognizedInPeriod
47500000 usd
mlkn Contract With Customer Liability Revenue Recognized In Period
ContractWithCustomerLiabilityRevenueRecognizedInPeriod
79100000 usd
us-gaap Net Income Loss
NetIncomeLoss
25800000 usd
CY2023Q3 us-gaap Inventory Finished Goods And Work In Process Net Of Reserves
InventoryFinishedGoodsAndWorkInProcessNetOfReserves
349100000 usd
CY2023Q2 us-gaap Inventory Finished Goods And Work In Process Net Of Reserves
InventoryFinishedGoodsAndWorkInProcessNetOfReserves
357200000 usd
CY2023Q3 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
124100000 usd
CY2023Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
130200000 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
473200000 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
487400000 usd
CY2023Q2 us-gaap Goodwill Gross
GoodwillGross
1347200000 usd
CY2023Q3 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
1900000 usd
CY2023Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
125500000 usd
CY2023Q3 us-gaap Goodwill
Goodwill
1223600000 usd
CY2023Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
480700000 usd
CY2023Q3 us-gaap Indefinite Lived Intangible Assets Foreign Currency Translation Gain Loss
IndefiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
700000 usd
CY2023Q3 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
481400000 usd
us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.0600
CY2023Q3 us-gaap Defined Benefit Plan Assumptions Used Calculating Net Periodic Benefit Cost Expected Long Term Return On Assets
DefinedBenefitPlanAssumptionsUsedCalculatingNetPeriodicBenefitCostExpectedLongTermReturnOnAssets
0.0600
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
75327544 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
75482572 shares
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
379992 shares
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
784394 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
75707536 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76266966 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3783297 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
823497 shares
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6400000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
5400000 usd
CY2023Q3 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1600000 usd
us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
1300000 usd
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.244
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.188
CY2023Q3 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
800000 usd
CY2023Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
700000 usd
CY2023Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1600000 usd
CY2023Q2 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
1600000 usd
CY2023Q3 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
DerivativesMethodsOfAccountingHedgingDerivatives
Derivative Instruments and Hedging ActivitiesForeign Currency Forward ContractsThe Company transacts business in various foreign currencies and has established a program that primarily utilizes foreign currency forward contracts to reduce the risks associated with the effects of certain foreign currency exposures. Under this program, the Company's strategy is to have increases or decreases in our foreign currency exposures offset by gains or losses on the foreign currency forward contracts to mitigate the risks and volatility associated with foreign currency transaction gains or losses. These foreign currency exposures typically arise from net liability or asset exposures in non-functional currencies on the balance sheets of our foreign subsidiaries. These foreign currency forward contracts generally settle within 30 days and are not used for trading purposes. These forward contracts are not designated as hedging instruments. Accordingly, we record the fair value of these contracts as of the end of the reporting period in the Consolidated Balance Sheets with changes in fair value recorded within the Consolidated Statements of Comprehensive Income. The balance sheet classification for the fair values of these forward contracts is to Other current assets for unrealized gains and to Other accrued liabilities for unrealized losses. The Consolidated Statements of Comprehensive Income classification for the fair values of these forward contracts is to Other (income) expense, net, for both realized and unrealized gains and losses. Interest Rate SwapsThe Company enters into interest rate swap agreements to manage its exposure to interest rate changes and its overall cost of borrowing. The Company's interest rate swap agreements exchange variable rate interest payments for fixed rate payments over the life of the agreement without the exchange of the underlying notional amounts. The notional amount of the interest rate swap agreements is used to measure interest to be paid or received. The differential paid or received on the interest rate swap agreements is recognized as an adjustment to interest expense.The interest rate swaps were designated as cash flow hedges at inception and the facts and circumstances of the hedged relationships remain consistent with the initial quantitative effectiveness assessment in that the hedged instruments remain an effective accounting hedge as of September 2, 2023. Since a designated derivative meets hedge accounting criteria, the fair value of the hedge is recorded in the Consolidated Statements of Stockholders’ Equity as a component of Accumulated other comprehensive loss, net of tax. The ineffective portion of the change in fair value of the derivatives is immediately recognized in earnings. The interest rate swap agreements are assessed for hedge effectiveness on a quarterly basis.
CY2023Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
7800000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
14300000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
7400000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
-400000 usd
CY2023Q3 us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
0 usd
us-gaap Foreign Currency Transaction Gain Loss Unrealized
ForeignCurrencyTransactionGainLossUnrealized
0 usd
CY2023Q3 mlkn Derivative Instruments Gain Loss Reclassification From Accumulated Other Comprehensive Income To Income Estimated Gross Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOtherComprehensiveIncomeToIncomeEstimatedGrossAmountToBeTransferred
30300000 usd
CY2023Q3 us-gaap Derivative Instruments Gain Loss Reclassification From Accumulated Oci To Income Estimated Net Amount To Be Transferred
DerivativeInstrumentsGainLossReclassificationFromAccumulatedOCIToIncomeEstimatedNetAmountToBeTransferred
22700000 usd
CY2023Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
73900000 usd
CY2022Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
73200000 usd
CY2023Q3 us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
5200000 usd
us-gaap Product Warranty Accrual Warranties Issued
ProductWarrantyAccrualWarrantiesIssued
4300000 usd
CY2023Q3 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
5900000 usd
us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
5200000 usd
CY2023Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
73200000 usd
CY2022Q3 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
72300000 usd
CY2023Q3 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
2400000 usd
CY2023Q2 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
2100000 usd
CY2023Q3 us-gaap Finance Lease Liability
FinanceLeaseLiability
1300000 usd
CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
0 usd
CY2023Q3 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1350100000 usd
CY2023Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1414400000 usd
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
15000000.0 usd
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
15900000 usd
CY2023Q3 us-gaap Debt Current
DebtCurrent
36300000 usd
CY2023Q2 us-gaap Debt Current
DebtCurrent
33400000 usd
CY2023Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1298800000 usd
CY2023Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1365100000 usd
CY2023Q3 us-gaap Other Short Term Borrowings
OtherShortTermBorrowings
2400000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
4300000 usd
CY2023Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
-7300000 usd
CY2023Q3 us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
0 usd
CY2023Q3 us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
-7300000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
11600000 usd
us-gaap Other Comprehensive Income Loss Before Reclassifications Net Of Tax
OtherComprehensiveIncomeLossBeforeReclassificationsNetOfTax
-57800000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Before Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodBeforeTax
-100000 usd
us-gaap Reclassification From Aoci Current Period Tax
ReclassificationFromAociCurrentPeriodTax
-100000 usd
us-gaap Reclassification From Accumulated Other Comprehensive Income Current Period Net Of Tax
ReclassificationFromAccumulatedOtherComprehensiveIncomeCurrentPeriodNetOfTax
0 usd
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-57800000 usd
CY2023Q3 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3 segment
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
917700000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1078800000 usd
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
40300000 usd
us-gaap Operating Income Loss
OperatingIncomeLoss
50800000 usd
CY2023Q3 us-gaap Restructuring Charges
RestructuringCharges
5200000 usd
us-gaap Restructuring Charges
RestructuringCharges
500000 usd
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
mlkn-20230902_cal.xml Edgar Link unprocessable
mlkn-20230902_lab.xml Edgar Link unprocessable
mlkn-20230902_def.xml Edgar Link unprocessable
0000066382-23-000081-index-headers.html Edgar Link pending
0000066382-23-000081-index.html Edgar Link pending
0000066382-23-000081.txt Edgar Link pending
0000066382-23-000081-xbrl.zip Edgar Link pending
exhibit10_1x09022023.htm Edgar Link pending
exhibit10_1x09022023001.jpg Edgar Link pending
exhibit10_1x09022023002.jpg Edgar Link pending
exhibit10_1x09022023003.jpg Edgar Link pending
exhibit10_1x09022023004.jpg Edgar Link pending
exhibit10_1x09022023005.jpg Edgar Link pending
exhibit10_1x09022023006.jpg Edgar Link pending
exhibit10_1x09022023007.jpg Edgar Link pending
exhibit10_1x09022023008.jpg Edgar Link pending
exhibit10_1x09022023009.jpg Edgar Link pending
exhibit10_1x09022023010.jpg Edgar Link pending
exhibit10_1x09022023011.jpg Edgar Link pending
exhibit10_1x09022023012.jpg Edgar Link pending
exhibit10_1x09022023013.jpg Edgar Link pending
exhibit10_1x09022023014.jpg Edgar Link pending
exhibit10_1x09022023015.jpg Edgar Link pending
exhibit10_1x09022023016.jpg Edgar Link pending
exhibit10_1x09022023017.jpg Edgar Link pending
exhibit10_1x09022023018.jpg Edgar Link pending
exhibit10_1x09022023019.jpg Edgar Link pending
exhibit10_1x09022023020.jpg Edgar Link pending
exhibit10_1x09022023021.jpg Edgar Link pending
exhibit10_1x09022023022.jpg Edgar Link pending
exhibit10_2x09022023.htm Edgar Link pending
exhibit10_2x09022023001.jpg Edgar Link pending
exhibit10_2x09022023002.jpg Edgar Link pending
exhibit10_2x09022023003.jpg Edgar Link pending
exhibit10_2x09022023004.jpg Edgar Link pending
exhibit10_2x09022023005.jpg Edgar Link pending
exhibit10_2x09022023006.jpg Edgar Link pending
exhibit10_2x09022023007.jpg Edgar Link pending
exhibit10_2x09022023008.jpg Edgar Link pending
exhibit10_2x09022023009.jpg Edgar Link pending
exhibit10_2x09022023010.jpg Edgar Link pending
exhibit10_2x09022023011.jpg Edgar Link pending
exhibit10_2x09022023012.jpg Edgar Link pending
exhibit10_2x09022023013.jpg Edgar Link pending
exhibit10_2x09022023014.jpg Edgar Link pending
exhibit10_2x09022023015.jpg Edgar Link pending
exhibit10_2x09022023016.jpg Edgar Link pending
exhibit10_2x09022023017.jpg Edgar Link pending
exhibit10_2x09022023018.jpg Edgar Link pending
exhibit10_2x09022023019.jpg Edgar Link pending
exhibit10_2x09022023020.jpg Edgar Link pending
exhibit10_2x09022023021.jpg Edgar Link pending
exhibit10_2x09022023022.jpg Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
mk10q_09022023ex311.htm Edgar Link pending
mk10q_09022023ex312.htm Edgar Link pending
mk10q_09022023ex321.htm Edgar Link pending
mk10q_09022023ex322.htm Edgar Link pending
mlkn-20230902.htm Edgar Link pending
mlkn-20230902.xsd Edgar Link pending
mlkn-20230902_g1.jpg Edgar Link pending
mlkn-20230902_g2.jpg Edgar Link pending
mlkn-20230902_g3.jpg Edgar Link pending
mlkn-20230902_g4.jpg Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
mlkn-20230902_pre.xml Edgar Link unprocessable
mlkn-20230902_htm.xml Edgar Link completed
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R69.htm Edgar Link pending
R7.htm Edgar Link pending
R70.htm Edgar Link pending
R71.htm Edgar Link pending
R72.htm Edgar Link pending
R73.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending