2024 Q3 Form 10-K Financial Statement

#000006638224000053 Filed on July 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2024
Revenue $888.9M $3.628B
YoY Change -7.09% -11.22%
Cost Of Revenue $536.5M $2.209B
YoY Change -10.88% -16.87%
Gross Profit $352.4M $1.420B
YoY Change -0.65% -0.73%
Gross Profit Margin 39.64% 39.12%
Selling, General & Admin $262.9M $1.112B
YoY Change -4.09% -1.27%
% of Gross Profit 74.6% 78.34%
Research & Development $26.90M $92.60M
YoY Change -22.48% 36.98%
% of Gross Profit 7.63% 6.52%
Depreciation & Amortization $43.50M $155.1M
YoY Change 10.97% 0.0%
% of Gross Profit 12.34% 10.93%
Operating Expenses $328.7M $1.252B
YoY Change 6.44% 1.64%
Operating Profit $23.70M $167.2M
YoY Change -48.37% -15.51%
Interest Expense -$17.50M -$67.10M
YoY Change -8.38% 1.05%
% of Operating Profit -73.84% -40.13%
Other Income/Expense, Net -$16.90M -$67.50M
YoY Change -945.0% 1400.0%
Pretax Income $6.800M $99.70M
YoY Change -223.64% 93.97%
Income Tax -$4.300M $14.70M
% Of Pretax Income -63.24% 14.74%
Net Earnings $9.900M $82.30M
YoY Change -10000.0% 95.49%
Net Earnings / Revenue 1.11% 2.27%
Basic Earnings Per Share $1.12
Diluted Earnings Per Share $0.14 $1.11
COMMON SHARES
Basic Shares Outstanding 69.83M shares 71.64M shares 73.29M shares
Diluted Shares Outstanding 73.95M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2024
SHORT-TERM ASSETS
Cash & Short-Term Investments $230.4M $230.4M
YoY Change 3.09% 3.09%
Cash & Equivalents $230.4M $230.4M
Short-Term Investments
Other Short-Term Assets $79.70M $79.70M
YoY Change -21.71% -21.71%
Inventory $425.0M $425.0M
Prepaid Expenses $66.50M
Receivables $329.1M $329.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $1.064B $1.064B
YoY Change -9.52% -9.52%
LONG-TERM ASSETS
Property, Plant & Equipment $856.0M $856.0M
YoY Change -10.1% -10.1%
Goodwill $1.226B
YoY Change 0.38%
Intangibles
YoY Change
Long-Term Investments $2.200M $2.200M
YoY Change -74.12% -74.12%
Other Assets $2.106B $2.106B
YoY Change 1620.92% 1620.92%
Total Long-Term Assets $2.962B $2.962B
YoY Change -4.4% -4.4%
TOTAL ASSETS
Total Short-Term Assets $1.064B $1.064B
Total Long-Term Assets $2.962B $2.962B
Total Assets $4.027B $4.027B
YoY Change -5.81% -5.81%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $236.0M $236.0M
YoY Change -12.43% -12.43%
Accrued Expenses $412.8M $412.8M
YoY Change 34.86% 35.66%
Deferred Revenue $100.2M
YoY Change 6.82%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $43.50M $43.50M
YoY Change 30.24% 30.24%
Total Short-Term Liabilities $692.3M $692.3M
YoY Change -1.49% -1.49%
LONG-TERM LIABILITIES
Long-Term Debt $1.292B $1.292B
YoY Change -5.38% -5.38%
Other Long-Term Liabilities $583.6M $583.6M
YoY Change -12.46% -12.46%
Total Long-Term Liabilities $1.875B $1.875B
YoY Change -7.7% -7.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $692.3M $692.3M
Total Long-Term Liabilities $1.875B $1.875B
Total Liabilities $2.642B $2.642B
YoY Change -7.05% -7.05%
SHAREHOLDERS EQUITY
Retained Earnings $738.4M
YoY Change 9.21%
Common Stock $14.10M
YoY Change -6.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.385B $1.385B
YoY Change
Total Liabilities & Shareholders Equity $4.027B $4.027B
YoY Change -5.81% -5.81%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2024
OPERATING ACTIVITIES
Net Income $9.900M $82.30M
YoY Change -10000.0% 95.49%
Depreciation, Depletion And Amortization $43.50M $155.1M
YoY Change 10.97% 0.0%
Cash From Operating Activities $78.40M $352.3M
YoY Change -15.24% 116.27%
INVESTING ACTIVITIES
Capital Expenditures $21.90M $78.40M
YoY Change -3.52% -5.88%
Acquisitions $0.00
YoY Change
Other Investing Activities -$3.400M -$500.0K
YoY Change 466.67% -107.35%
Cash From Investing Activities -$25.30M -$86.30M
YoY Change 8.58% 12.81%
FINANCING ACTIVITIES
Cash Dividend Paid $55.60M
YoY Change -2.63%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -45.70M -$258.8M
YoY Change -29.37% 198.16%
NET CHANGE
Cash From Operating Activities 78.40M $352.3M
Cash From Investing Activities -25.30M -$86.30M
Cash From Financing Activities -45.70M -$258.8M
Net Change In Cash 7.400M $6.900M
YoY Change 64.44% -1825.0%
FREE CASH FLOW
Cash From Operating Activities $78.40M $352.3M
Capital Expenditures $21.90M $78.40M
Free Cash Flow $56.50M $273.9M
YoY Change -19.05% 244.1%

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CY2024 us-gaap Fiscal Period
FiscalPeriod
<div style="margin-bottom:6pt"><span style="color:#252525;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:130%">Fiscal Year</span></div>The Company's fiscal year ends on the Saturday closest to May 31. The fiscal year ended June 1, 2024, contained 52 weeks; the fiscal year ended June 3, 2023, contained 53 weeks; and the fiscal year ended May 28, 2022, contained 52 weeks.
CY2024Q2 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Gross
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedGross
26600000 usd
CY2024Q2 us-gaap Derivative Asset Securities Purchased Under Agreements To Resell Securities Borrowed Liability
DerivativeAssetSecuritiesPurchasedUnderAgreementsToResellSecuritiesBorrowedLiability
23000000.0 usd
CY2024Q2 us-gaap Derivative Asset Security Purchased Under Agreement To Resell Security Borrowed After Offset Subject To Master Netting Arrangement
DerivativeAssetSecurityPurchasedUnderAgreementToResellSecurityBorrowedAfterOffsetSubjectToMasterNettingArrangement
3600000 usd
CY2024Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
55900000 usd
CY2023Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
40800000 usd
CY2024 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-bottom:6pt"><span style="color:#252525;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:130%">Concentrations of Credit Risk</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#252525;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:130%">The Company's trade receivables are primarily due from independent dealers who, in turn, carry receivables from their customers. The Company monitors and manages the credit risk associated with individual dealers and direct customers where applicable. Dealers are responsible for assessing and assuming credit risk of their customers and may require their customers to provide deposits, letters of credit or other credit enhancement measures. Some sales contracts are structured such that the customer payment or obligation is direct to the Company. In those cases, the Company may assume the credit risk. Whether from dealers or customers, the Company's trade credit exposures are not concentrated with any particular entity.</span></div>
CY2022Q2 us-gaap Goodwill Gross
GoodwillGross
489700000 usd
CY2022 us-gaap Goodwill Written Off Related To Sale Of Business Unit
GoodwillWrittenOffRelatedToSaleOfBusinessUnit
300000 usd
CY2022 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
903500000 usd
CY2022 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-41200000 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
125500000 usd
CY2022Q2 us-gaap Goodwill
Goodwill
1226200000 usd
CY2023Q2 us-gaap Goodwill Gross
GoodwillGross
1351700000 usd
CY2023 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-4500000 usd
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
125500000 usd
CY2023Q2 us-gaap Goodwill
Goodwill
1221700000 usd
CY2024Q2 us-gaap Goodwill Gross
GoodwillGross
1347200000 usd
CY2024 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
4600000 usd
CY2024 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
125500000 usd
CY2024Q2 us-gaap Goodwill
Goodwill
1226300000 usd
CY2022Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
501000000.0 usd
CY2023 us-gaap Indefinite Lived Intangible Assets Foreign Currency Translation Gain Loss
IndefiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
-600000 usd
CY2023 us-gaap Indefinite Lived Intangible Assets Purchase Accounting Adjustments
IndefiniteLivedIntangibleAssetsPurchaseAccountingAdjustments
-19700000 usd
CY2023Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
480700000 usd
CY2024 us-gaap Indefinite Lived Intangible Assets Foreign Currency Translation Gain Loss
IndefiniteLivedIntangibleAssetsForeignCurrencyTranslationGainLoss
1600000 usd
CY2024 us-gaap Impairment Of Intangible Assets Indefinitelived Excluding Goodwill
ImpairmentOfIntangibleAssetsIndefinitelivedExcludingGoodwill
16800000 usd
CY2024Q2 us-gaap Indefinite Lived Intangible Assets Excluding Goodwill
IndefiniteLivedIntangibleAssetsExcludingGoodwill
465500000 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1090700000 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1034400000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
492000000.0 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
536300000 usd
CY2024 us-gaap Long Term Purchase Commitment Amount
LongTermPurchaseCommitmentAmount
53700000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
502700000 usd
CY2024Q2 mlkn Finite Lived Intangible Assets Gross Accumulated Amortization
FiniteLivedIntangibleAssetsGrossAccumulatedAmortization
223400000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
279300000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
498300000 usd
CY2023Q2 mlkn Finite Lived Intangible Assets Gross Accumulated Amortization
FiniteLivedIntangibleAssetsGrossAccumulatedAmortization
173600000 usd
CY2023Q2 mlkn Finite Lived Intangible Assets Accumulated Impairment
FiniteLivedIntangibleAssetsAccumulatedImpairment
11600000 usd
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
313100000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
37200000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
36600000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
33500000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
29100000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
24600000 usd
CY2024Q2 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
5500000 usd
CY2024Q2 us-gaap Impairment Of Long Lived Assets To Be Disposed Of
ImpairmentOfLongLivedAssetsToBeDisposedOf
1000000 usd
CY2022 us-gaap Gain Loss On Sales Of Assets And Asset Impairment Charges
GainLossOnSalesOfAssetsAndAssetImpairmentCharges
-15500000 usd
CY2024Q2 mlkn Self Insurance Retention Level General Liability
SelfInsuranceRetentionLevelGeneralLiability
1000000.00 usd
CY2024Q2 mlkn Self Insurance Retention Level Auto Liability
SelfInsuranceRetentionLevelAutoLiability
1000000.00 usd
CY2024Q2 mlkn Self Insurance Retention Level Workers Compensation
SelfInsuranceRetentionLevelWorkersCompensation
750000 usd
CY2024Q2 mlkn Self Insurance Retention Level Health Benefit
SelfInsuranceRetentionLevelHealthBenefit
700000 usd
CY2024Q2 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
12000000.0 usd
CY2023Q2 us-gaap Liability For Unpaid Claims And Claims Adjustment Expense Net
LiabilityForUnpaidClaimsAndClaimsAdjustmentExpenseNet
13200000 usd
CY2024 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
62000000.0 usd
CY2023 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
67600000 usd
CY2022 us-gaap Research And Development Expense Excluding Acquired In Process Cost
ResearchAndDevelopmentExpenseExcludingAcquiredInProcessCost
71100000 usd
CY2024 us-gaap Royalty Expense
RoyaltyExpense
30600000 usd
CY2023 us-gaap Royalty Expense
RoyaltyExpense
38100000 usd
CY2022 us-gaap Royalty Expense
RoyaltyExpense
37600000 usd
CY2024 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-bottom:6pt"><span style="color:#252525;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:130%">Use of Estimates in the Preparation of Financial Statements </span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#252525;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:130%">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</span></div>
CY2024 us-gaap Derivatives Methods Of Accounting Nonhedging Derivatives
DerivativesMethodsOfAccountingNonhedgingDerivatives
<div style="margin-bottom:6pt"><span style="color:#252525;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:130%">Derivatives and Hedging</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#252525;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:130%">The Company calculates the fair value of financial instruments using quoted market prices whenever available. The Company utilizes derivatives to manage exposures to foreign currency exchange rates and interest rate risk. The fair values of all derivatives are recognized as assets or liabilities at the balance sheet date. Changes in the fair value of these instruments are reported within Other (income) expense, net in the Consolidated Statements of Comprehensive Income, or Accumulated other comprehensive loss within the Consolidated Balance Sheets, depending on the use of the derivative and whether it qualifies for hedge accounting treatment.</span></div><div style="margin-bottom:6pt;text-align:justify"><span style="color:#252525;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:130%">Gains and losses on derivatives that are designated and qualify as cash flow hedging instruments are recorded in Accumulated Other Comprehensive Loss, to the extent the hedges are effective, until the underlying transactions are recognized in the Consolidated Statements of Comprehensive Income. Derivatives not designated as hedging instruments are marked-to-market at the end of each period with the results included in Consolidated Statements of Comprehensive Income.</span></div>
CY2024 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3628400000 usd
CY2023 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
4087100000 usd
CY2024 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3628400000 usd
CY2023 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
4087100000 usd
CY2022 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
3946000000 usd
CY2024Q2 us-gaap Noncurrent Assets
NoncurrentAssets
601900000 usd
CY2023Q2 us-gaap Noncurrent Assets
NoncurrentAssets
654300000 usd
CY2022Q2 us-gaap Noncurrent Assets
NoncurrentAssets
676100000 usd
CY2024 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
82200000 usd
CY2024Q2 us-gaap Inventory Finished Goods And Work In Process Net Of Reserves
InventoryFinishedGoodsAndWorkInProcessNetOfReserves
314300000 usd
CY2023Q2 us-gaap Inventory Finished Goods And Work In Process Net Of Reserves
InventoryFinishedGoodsAndWorkInProcessNetOfReserves
357200000 usd
CY2024Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
114300000 usd
CY2023Q2 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
130200000 usd
CY2024Q2 us-gaap Inventory Net
InventoryNet
428600000 usd
CY2023Q2 us-gaap Inventory Net
InventoryNet
487400000 usd
CY2024Q2 us-gaap Equity Method Investments
EquityMethodInvestments
2200000 usd
CY2023Q2 us-gaap Equity Method Investments
EquityMethodInvestments
8500000 usd
CY2024 mlkn Income Loss From Equity Method Investments After Tax
IncomeLossFromEquityMethodInvestmentsAfterTax
-400000 usd
CY2023 mlkn Income Loss From Equity Method Investments After Tax
IncomeLossFromEquityMethodInvestmentsAfterTax
-800000 usd
CY2022 mlkn Income Loss From Equity Method Investments After Tax
IncomeLossFromEquityMethodInvestmentsAfterTax
0 usd
CY2024Q2 mlkn Number Of Equity Method Investments
NumberOfEquityMethodInvestments
1 affiliate
CY2024 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
-400000 usd
CY2024Q2 mlkn Supplier Finance Program Obligation Statement Of Financial Position Extensible Enumeration Not Disclosed Flag
SupplierFinanceProgramObligationStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag
Supplier financing program
CY2023Q2 mlkn Supplier Finance Program Obligation Statement Of Financial Position Extensible Enumeration Not Disclosed Flag
SupplierFinanceProgramObligationStatementOfFinancialPositionExtensibleEnumerationNotDisclosedFlag
Supplier financing program
CY2024Q2 us-gaap Supplier Finance Program Obligation
SupplierFinanceProgramObligation
2000000.0 usd
CY2023Q2 us-gaap Supplier Finance Program Obligation
SupplierFinanceProgramObligation
2100000 usd
CY2024Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
1400000 usd
CY2023Q2 us-gaap Finance Lease Liability
FinanceLeaseLiability
0 usd
CY2024Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1347800000 usd
CY2023Q2 us-gaap Debt And Capital Lease Obligations
DebtAndCapitalLeaseObligations
1414400000 usd
CY2024Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
12600000 usd
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
15900000 usd
CY2024Q2 us-gaap Debt Current
DebtCurrent
43500000 usd
CY2023Q2 us-gaap Debt Current
DebtCurrent
33400000 usd
CY2024Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1291700000 usd
CY2023Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
1365100000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
43600000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
46800000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
666400000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
6400000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
584600000 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
0 usd
CY2024Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
1347800000 usd
CY2024Q2 us-gaap Supplier Finance Program Obligation
SupplierFinanceProgramObligation
2000000.0 usd
CY2024 us-gaap Operating Lease Cost
OperatingLeaseCost
94100000 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
99300000 usd
CY2024 us-gaap Short Term Lease Cost
ShortTermLeaseCost
7100000 usd
CY2023 us-gaap Short Term Lease Cost
ShortTermLeaseCost
11200000 usd
CY2024 us-gaap Variable Lease Cost
VariableLeaseCost
15900000 usd
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
12000000.0 usd
CY2024 us-gaap Lease Cost
LeaseCost
117100000 usd
CY2023 us-gaap Lease Cost
LeaseCost
122500000 usd
CY2024Q2 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
5500000 usd
CY2023 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
6100000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
83900000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
88800000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
75400000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
67500000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
59300000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
172700000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
547600000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
120000000.0 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
427600000 usd
CY2024Q2 mlkn Lessee Operating Lease Lease Not Yet Commenced Future Payments
LesseeOperatingLeaseLeaseNotYetCommencedFuturePayments
15400000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y7M6D
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P6Y10M24D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.027
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.024
CY2024 us-gaap Operating Lease Payments
OperatingLeasePayments
98800000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
100000000.0 usd
CY2024 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
48300000 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
63000000.0 usd
CY2024Q2 mlkn Defined Benefit Plan Number Of Pension Plans
DefinedBenefitPlanNumberOfPensionPlans
1 defined_benefit_plan
CY2024 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
1800000 usd
CY2023 us-gaap Pension And Other Postretirement Benefit Contributions
PensionAndOtherPostretirementBenefitContributions
11700000 usd
CY2024 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
22000000.0 usd
CY2023 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
32400000 usd
CY2022 us-gaap Defined Contribution Plan Cost Recognized
DefinedContributionPlanCostRecognized
36300000 usd
CY2024 us-gaap Net Income Loss
NetIncomeLoss
82300000 usd
CY2023 us-gaap Net Income Loss
NetIncomeLoss
42100000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-27100000 usd
CY2024 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73291939 shares
CY2023 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
75478000 shares
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
73160212 shares
CY2024 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
662817 shares
CY2023 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
546368 shares
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
0 shares
CY2024 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73954756 shares
CY2023 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
76024368 shares
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
73160212 shares
CY2024 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2198708 shares
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2119223 shares
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1245988 shares
CY2019Q1 srt Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
250000000.0 shares
CY2024Q2 srt Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
250000000.0 shares
CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
66300000 usd
CY2024 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
6022646 shares
CY2023 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
575207 shares
CY2022 us-gaap Stock Repurchased And Retired During Period Shares
StockRepurchasedAndRetiredDuringPeriodShares
390010 shares
CY2024 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20600000 usd
CY2023 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
20200000 usd
CY2022 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
31400000 usd
CY2024 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
5000000.0 usd
CY2023 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
4900000 usd
CY2022 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
7700000 usd
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
14800000 usd
CY2024 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y2M12D
CY2024 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
139211 shares
CY2023 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
185551 shares
CY2022 us-gaap Stock Issued During Period Shares Employee Stock Purchase Plans
StockIssuedDuringPeriodSharesEmployeeStockPurchasePlans
87562 shares
CY2024 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1700000 usd
CY2024 mlkn Internal Revenue Service Statutory Compensation Ceiling
InternalRevenueServiceStatutoryCompensationCeiling
345000 usd
CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-24800000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-90300000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Domestic
IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic
-142400000 usd
CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
124500000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
141700000 usd
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Foreign
IncomeLossFromContinuingOperationsBeforeIncomeTaxesForeign
133800000 usd
CY2024 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
99700000 usd
CY2023 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
51400000 usd
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Files In Submission

Name View Source Status
exhibit10_5x06012024001.jpg Edgar Link pending
exhibit10_5x06012024002.jpg Edgar Link pending
exhibit10_5x06012024003.jpg Edgar Link pending
exhibit10_5x06012024004.jpg Edgar Link pending
exhibit10_5x06012024005.jpg Edgar Link pending
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exhibit10_5x06012024024.jpg Edgar Link pending
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