| Jun'19 | Jun'18 | Jun'17 | May'16 | May'15 | May'14 | May'13 | May'12 | May'11 | May'10 | May'09 |
|---|---|---|---|---|---|---|---|---|---|---|
Net sales | ||||||||||
2,567,200 | 2,381,200 | 2,278,200 | 2,264,900 | 2,142,200 | 1,882,000 | 1,774,900 | 1,724,100 | 1,649,200 | 1,318,800 | 1,630,000 |
Cost of sales | ||||||||||
1,637,300 | 1,508,200 | 1,414,000 | 1,390,700 | 1,350,800 | 1,251,000 | 1,169,700 | 1,133,500 | 1,111,100 | 890,300 | 1,102,300 |
Gross margin | ||||||||||
929,900 | 873,000 | 864,200 | 874,200 | 791,400 | 631,000 | 605,200 | 590,600 | 538,100 | 428,500 | 527,700 |
Operating expenses: | ||||||||||
Selling, general and administrative | ||||||||||
639,300 | 615,300 | 587,500 | 585,600 | 543,900 | 564,300 | 429,200 | 394,900 | 366,000 | 317,700 | 330,800 |
Restructuring expense | ||||||||||
10,200 | 5,700 | 12,500 | 0 | 12,700 | 26,500 | 1,200 | 5,400 | 3,000 | 16,700 | 28,400 |
Design and research | ||||||||||
76,900 | 73,100 | 73,100 | 77,100 | 71,400 | 65,900 | 59,900 | 52,700 | 45,800 | 40,500 | 45,700 |
Total operating expenses | ||||||||||
726,400 | 694,100 | 673,100 | 662,700 | 628,000 | 656,700 | 490,300 | 453,000 | 414,800 | 374,900 | 404,900 |
Operating earnings | ||||||||||
203,500 | 178,900 | 191,100 | 211,500 | 163,400 | -25,700 | 114,900 | 137,600 | 123,300 | 53,600 | 122,800 |
Other expenses (income): | ||||||||||
Interest expense | ||||||||||
12,100 | 13,500 | 15,200 | 15,400 | 17,500 | 17,600 | 17,200 | 17,500 | 19,900 | 21,700 | 25,600 |
Interest and other investment income | ||||||||||
2,100 | 4,400 | 2,200 | 800 | 600 | 400 | 400 | 1,000 | 1,500 | 4,600 | 2,600 |
Other expense (income), net | ||||||||||
1,600 | -1,700 | -500 | -300 | -1,300 | -500 | -900 | -1,600 | -2,400 | -1,700 | -900 |
Net other expenses | ||||||||||
-8,400 | -10,800 | -13,500 | -14,900 | -18,200 | -17,700 | -17,700 | -18,100 | -20,800 | -18,800 | -23,900 |
Earnings before income taxes | ||||||||||
195,100 | 168,100 | 177,600 | 196,600 | 145,200 | -43,400 | 97,200 | 119,500 | 102,500 | 34,800 | 98,900 |
Income tax expense | ||||||||||
39,600 | 42,400 | 55,100 | 59,500 | 47,200 | -21,200 | 28,900 | 44,300 | 31,700 | 6,500 | 31,000 |
Equity income from nonconsolidated affiliates, net of tax | ||||||||||
5,000 | 3,000 | 1,600 | 400 | 100 | 100 | -100 | 0 | 0 | - | - |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ||||||||||
160,500 | 128,700 | 124,100 | 137,500 | 98,100 | -22,100 | 68,200 | - | - | - | - |
Net (loss) earnings attributable to redeemable noncontrolling interests | ||||||||||
0 | 600 | 200 | 800 | 600 | 0 | 0 | - | - | - | -100 |
Net Income (Loss) Attributable to Parent | ||||||||||
160,500 | 128,100 | 123,900 | 136,700 | 97,500 | -22,100 | 68,200 | 75,200 | 70,800 | 28,300 | 68,000 |
Earnings per share — basic | ||||||||||
2.72 | 2.15 | 2.07 | 2.28 | 1.64 | -0.37 | 1.17 | 1.29 | 1.24 | 0.51 | 1.26 |
Earnings per share — diluted | ||||||||||
2.70 | 2.12 | 2.05 | 2.26 | 1.62 | -0.37 | 1.16 | 1.29 | 1.06 | 0.43 | 1.25 |
Other comprehensive income (loss), net of tax | ||||||||||
Foreign currency translation adjustments | ||||||||||
-14,200 | 2,700 | -7,200 | -8,800 | -9,700 | 2,900 | -1,000 | -7,100 | 6,400 | - | - |
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent | ||||||||||
7,800 | -10,400 | 12,700 | -500 | 8,600 | -83,500 | -17,300 | 29,300 | -25,500 | - | - |
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax, Parent | ||||||||||
-12,300 | 7,800 | 2,100 | 0 | - | - | - | - | - | - | - |
Unrealized losses on interest rate swap agreement | ||||||||||
- | - | - | 0 | 0 | - | - | - | - | - | - |
Unrealized holding gain on available for sale securities | ||||||||||
0 | 0 | 100 | 0 | 0 | - | - | - | 100 | - | - |
Other Comprehensive Income (Loss), Net of Tax | ||||||||||
-34,300 | 20,900 | -17,700 | -8,300 | -18,300 | 86,400 | 16,300 | -36,400 | 32,000 | - | - |
Comprehensive income | ||||||||||
126,200 | 149,600 | 106,400 | 129,200 | 79,800 | 64,300 | 84,500 | - | - | - | - |
Comprehensive (loss) income attributable to redeemable noncontrolling interests | ||||||||||
0 | 600 | 200 | 800 | 600 | 0 | 0 | - | - | - | - |
Comprehensive income attributable to Herman Miller, Inc. | ||||||||||
126,200 | 149,000 | 106,200 | 128,400 | 79,200 | 64,300 | 84,500 | 38,800 | 102,800 | - | - |