Herman miller, inc. (MLHR)
Income statement / TTM
Feb'20Nov'19Aug'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Aug'17Jun'17Feb'17Nov'16Aug'16May'16Feb'16Nov'15Aug'15May'15Feb'15Nov'14Aug'14May'14Feb'14Nov'13Aug'13May'13Feb'13Nov'12Aug'12May'12Feb'12Nov'11Aug'11May'11Feb'11Nov'10Aug'10May'10Feb'10Nov'09Aug'09
Net sales

2,681,800

2,635,100

2,613,500

2,567,200

2,514,100

2,473,500

2,425,500

2,381,200

2,340,500

2,287,000

2,259,900

2,278,200

2,283,600

2,295,200

2,298,100

2,264,900

2,233,000

2,212,900

2,197,900

2,142,200

2,079,000

2,018,500

1,923,600

1,882,000

1,854,400

1,822,000

1,793,300

1,774,900

1,735,600

1,711,900

1,715,700

1,724,100

1,745,000

1,760,000

1,726,600

1,649,200

1,529,200

1,444,000

1,375,500

1,318,800

0

0

0

Cost of sales

1,688,700

1,664,300

1,662,600

1,637,300

1,604,200

1,578,800

1,544,300

1,508,200

1,475,000

1,431,800

1,408,800

1,414,000

1,414,900

1,414,200

1,410,700

1,390,700

1,374,400

1,371,600

1,375,300

1,350,800

1,318,000

1,285,100

1,277,000

1,251,000

1,240,000

1,226,100

1,167,800

1,169,700

1,143,000

1,129,500

1,129,700

1,133,500

1,158,700

1,174,900

1,157,800

1,111,100

1,031,400

974,400

930,900

890,300

0

0

0

Gross margin

993,100

970,800

950,900

929,900

909,900

894,700

881,200

873,000

865,500

855,200

851,100

864,200

868,700

881,000

887,400

874,200

858,600

841,300

822,600

791,400

761,000

733,400

646,600

631,000

614,400

595,900

625,500

605,200

592,600

582,400

586,000

590,600

586,300

585,100

568,800

538,100

497,800

469,600

444,600

428,500

0

0

0

Operating expenses:
Selling, general and administrative

667,900

651,100

644,800

639,300

642,700

638,000

628,000

615,300

592,900

584,300

580,100

587,500

592,800

596,000

596,700

585,600

579,500

568,900

560,300

543,900

515,400

494,100

576,600

564,300

560,800

551,100

442,600

429,200

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Restructuring expense

18,000

14,800

10,900

10,200

5,500

5,200

5,400

5,700

10,700

13,400

13,900

12,500

3,700

1,000

0

-

0

0

-

-

0

-

-

-

0

0

-

1,200

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Design and research

77,700

78,000

77,600

76,900

74,500

73,400

72,400

73,100

73,200

72,500

72,900

73,100

74,600

77,100

77,900

77,100

76,300

74,600

73,300

71,400

69,700

67,500

66,100

65,900

64,800

63,800

62,500

59,900

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Total operating expenses

763,600

743,900

733,300

726,400

722,700

716,600

705,800

694,100

676,800

670,200

666,900

673,100

671,100

674,100

674,600

662,700

666,600

656,200

646,300

628,000

608,400

584,100

669,200

656,700

630,700

618,900

505,800

490,300

483,600

475,500

455,900

453,000

450,000

443,000

433,800

414,800

406,100

389,900

377,600

374,900

0

0

0

Restructuring and Other Related Expenses

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

0

0

0

-

0

0

0

Operating earnings

229,500

226,900

217,600

203,500

187,200

178,100

175,400

178,900

188,700

185,000

184,200

191,100

197,600

206,900

212,800

211,500

192,000

185,100

176,300

163,400

152,600

149,300

-22,600

-25,700

-16,300

-23,000

119,700

114,900

109,000

106,900

130,100

137,600

139,300

145,100

135,900

123,300

95,800

81,500

68,700

53,600

0

0

0

Gain on consolidation of equity method investments

0

0

-

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other expenses (income):
Interest expense

12,000

12,100

12,200

12,100

11,900

12,100

12,700

13,500

14,300

14,900

15,100

15,200

15,300

15,300

15,300

15,400

15,400

16,000

16,700

17,500

18,000

18,100

17,800

17,600

17,600

17,300

17,400

17,200

17,100

17,000

17,300

17,500

18,000

19,000

19,400

19,900

20,900

20,700

20,800

21,700

0

0

0

Interest and other investment income

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Other expense (income), net

1,800

2,600

1,500

1,600

-2,800

-2,400

-1,400

-1,700

200

300

-400

-500

1,400

0

800

-300

-900

-1,300

-1,800

-1,300

-1,400

-700

-400

-500

-1,000

-600

-1,000

-900

-1,000

-900

-1,100

-1,600

-2,200

-2,200

-1,900

-2,400

-4,100

-3,900

-2,800

-1,700

0

0

0

Earnings before income taxes

252,000

250,000

209,000

195,100

177,400

168,000

165,700

168,100

176,800

172,600

170,900

177,600

184,500

192,400

199,100

196,600

176,300

168,400

158,400

145,200

133,600

130,900

-40,400

-43,400

-34,500

-40,500

101,700

97,200

91,900

90,000

112,700

119,500

120,600

125,400

116,100

102,500

75,400

61,500

49,700

34,800

0

0

0

Income tax expense

47,900

44,600

42,900

39,600

34,400

34,000

37,100

42,400

49,500

52,100

52,300

55,100

54,400

56,800

59,500

59,500

55,900

54,800

51,800

47,200

43,000

42,000

-20,800

-21,200

-19,200

-22,200

30,900

28,900

35,000

34,700

42,100

44,300

40,400

40,300

36,800

31,700

19,600

17,200

13,700

6,500

0

0

0

Equity income from nonconsolidated affiliates, net of tax

5,800

6,500

6,500

5,000

3,600

3,300

2,900

3,000

2,800

2,100

2,100

1,600

1,100

1,300

600

400

400

200

100

100

200

100

200

100

-100

0

-100

-100

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

209,900

211,900

172,600

160,500

146,600

137,300

131,500

128,700

130,100

122,600

120,700

124,100

131,200

136,900

140,200

137,500

120,800

113,800

106,700

98,100

90,800

89,000

-19,400

-22,100

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net (loss) earnings attributable to redeemable noncontrolling interests

-800

-300

-300

0

600

700

700

600

300

100

0

200

100

400

700

800

1,200

1,100

900

600

200

0

0

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Net Income (Loss) Attributable to Parent

210,700

212,200

172,900

160,500

146,000

136,600

130,800

128,100

129,800

122,500

120,700

123,900

131,100

136,500

139,500

136,700

119,600

112,700

105,800

97,500

90,600

89,000

-19,400

-22,100

-15,400

-18,300

70,700

68,200

56,900

55,300

70,600

75,200

80,200

85,100

79,300

70,800

55,800

44,300

36,000

28,300

0

0

0

Earnings per share — basic

0.64

1.33

0.82

0.79

0.67

0.66

0.60

0.54

0.50

0.56

0.55

0.55

0.38

0.53

0.61

0.68

0.46

0.58

0.56

0.39

0.35

0.47

0.43

0.29

0.33

-1.37

0.38

0.41

0.28

0.14

0.34

0.20

0.26

0.41

0.42

0.30

0.35

0.31

0.28

0.04

0.15

0.17

0.15

Earnings per share — diluted

0.64

1.32

0.81

0.78

0.66

0.66

0.60

0.53

0.49

0.55

0.55

0.55

0.37

0.53

0.60

0.67

0.46

0.57

0.56

0.39

0.35

0.46

0.42

0.29

0.33

-1.37

0.38

0.40

0.28

0.14

0.34

0.20

0.26

0.41

0.42

0.29

0.29

0.26

0.22

0.00

0.12

0.17

0.14

Dividends declared, per share

-

-

-

-

-

-

-

-

-

-

0.18

-

0.17

0.17

0.17

-

0.14

0.14

0.14

-

0.14

0.14

0.14

-

0.14

0.12

0.12

-

0.12

0.09

0.09

-

0.02

0.02

0.02

-

0.02

0.02

0.02

-

0.02

0.02

0.02

Other comprehensive income (loss), net of tax
Foreign currency translation adjustments

-7,300

2,600

-15,600

-14,200

-7,900

-14,200

-9,600

2,700

9,800

7,700

1,900

-7,200

-9,100

-14,700

-10,000

-8,800

-10,700

-8,300

-12,700

-9,700

-8,800

-5,100

3,100

2,900

2,000

-1,500

-4,500

-1,000

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax and Reclassification Adjustment, Attributable to Parent

7,400

7,500

7,800

7,800

-9,600

-9,900

-10,300

-10,400

12,300

12,700

13,200

12,700

-600

-700

-900

-500

7,800

8,100

8,100

8,600

3,200

3,200

-82,500

-83,500

-95,000

-92,300

-17,100

-17,300

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized losses on interest rate swap agreement

0

0

0

-

0

0

0

-

0

0

500

-

5,300

4,200

0

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unrealized holding gain on available for sale securities

0

100

100

0

0

-100

-100

0

200

0

0

-

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

Other Comprehensive Income (Loss), Net of Tax

-35,100

-23,000

-43,900

-34,300

-1,300

2,900

9,500

20,900

1,100

-6,000

-10,700

-17,700

-3,000

-9,800

-9,100

-8,300

-18,500

-16,400

-20,800

-18,300

-12,000

-8,300

85,600

86,400

97,000

90,800

12,600

16,300

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Comprehensive income

174,800

188,900

128,700

126,200

145,300

140,200

141,000

149,600

131,200

116,600

110,000

106,400

128,200

127,100

131,100

129,200

102,300

97,400

85,900

79,800

78,800

80,700

66,200

64,300

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Comprehensive (loss) income attributable to redeemable noncontrolling interests

-800

-300

-300

0

600

700

700

600

300

100

0

200

100

400

700

800

1,200

1,100

900

600

200

0

0

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Comprehensive income attributable to Herman Miller, Inc.

175,600

189,200

129,000

126,200

144,700

139,500

140,300

149,000

130,900

116,500

110,000

106,200

128,100

126,700

130,400

128,400

101,100

96,300

85,000

79,200

78,600

80,700

66,200

64,300

81,600

72,500

83,300

84,500

33,000

39,500

40,000

38,800

0

0

0

-

-

-

-

-

-

-

-