1 unchanged sentence
Share Price, Earnings and Dividends Summary
−Removed: Herman Miller, Inc.'s common stock is traded on the Nasdaq Global Select Market System (Symbol:
+Added: MillerKnoll, Inc.'s common stock is traded on the Nasdaq Global Select Market System (Symbol:
As of July 18, 2022, there were approximately 58,000 shareholders of record, including individual participants in security position listings, of the Company's common stock.
−Removed: Dividends were declared for the last three quarters of fiscal 2021 as approved by the Board of Directors.
+Added: Dividends were declared and paid quarterly for fiscal 2022 as approved by the Board of Directors.
On April 12, 2022, the Company's Board of Directors approved a quarterly cash dividend of 18.75 cents ($0.1875) per share that was paid on July 15, 2022, to shareholders of record on May 28, 2022.
−Removed: While it is anticipated that the Company will continue to pay quarterly cash dividends, the amount and timing of such dividends is subject to the discretion of the Board depending on the Company's future results of operations, financial condition, capital requirements and other relevant factors.
+Added: While it is anticipated that the Company will contin ue to pay quarterly cash dividends, the amount and timing of such dividends is subject to the discretion of the Board depending on the Company's future results of operations, financial condition, capital requirements and other relevant factors.
Issuer Purchases of Equity Securities
The Company has one share repurchase plan authorized by the Board of Directors on January 16, 2019, which provides a share repurchase authorization of $250.0 million with no specified expiration date.
−Removed: The approximate dollar value of shares available for purchase under the plans at May 29, 2021 was $236.7 million.
+Added: The approximate dollar value of shares available for purchase under the plan at May 28, 2022 was $220.5 million.
The following is a summary of share repurchase activity during the Company's fourth fiscal quarter ended May 28, 2022:
9 unchanged sentences
During the period covered by this report, the Company did not sell any shares of common stock that were not registered under the Securities Act of 1933.
−Removed: Herman Miller, Inc.
−Removed: and Subsidiaries 20
Stockholder Return Performance Graph
2 unchanged sentences
2017 2018 2019 2020 2021 2022
−Removed: Herman Miller, Inc.
+Added: MillerKnoll, Inc.
$ 100 $ 103 $ 113 $ 75 $ 159 $ 104
2 unchanged sentences
Information required by this item is also contained in Item 12 of this report.
−Removed: 21 2021 Annual Report
Item 6 Selected Financial Data
8 unchanged sentences
Operating earnings (loss) 39.8 232.5 (37.9)
−Removed: Earnings (loss) before income taxes and equity income 226.4 (13.4) 195.1 168.1 177.6
−Removed: Net earnings (loss) 178.8 (14.4) 160.5 128.7 124.1
−Removed: Net cash provided by operating activities 332.3 221.8 216.4 166.5 202.1
−Removed: Net cash used in investing activities (59.9) (168.1) (165.0) (62.7) (116.3)
−Removed: Net cash (used in) provided by financing activities (347.7) 244.0 (91.9) 2.5 (74.6)
+Added: (Loss) earnings before income taxes and equity income (8.6) 228.3 (12.9)
+Added: Net (loss) earnings (19.7) 180.3 (14.0)
+Added: Net cash (used in) provided by operating activities (11.9) 332.3 221.8
+Added: Net cash (used in) provided by investing activities (1,172.4) (59.9) (168.1)
+Added: Net cash provided by (used in) financing activities 1,039.9 (347.7) 244.0
Depreciation and amortization 190.6 87.2 79.5
1 unchanged sentence
Common stock repurchased plus cash dividends paid (70.7) (35.4) (63.0)
−Removed: Sales (decline) growth (0.9)% (3.1)% 7.8% 4.5% 0.6%
+Added: Sales growth (decline) 60.1 % (0.9) % (3.1) %
Gross margin (2)
3 unchanged sentences
Design and research (2)
−Removed: 2.9 3.0 3.0 3.1 3.2
Operating earnings (loss) (2)
1.0 9.4 (1.5)
−Removed: Net earnings growth (decline) 1,341.7 (109.0) 24.7 3.7 (9.7)
+Added: Net earnings (decline) growth (110.9) 1,387.9 (108.7)
After-tax return on net sales (3)
16 unchanged sentences
Current ratio (8)
−Removed: 1.8 1.8 1.5 1.6 1.3
Interest-bearing debt and related swap agreements (9)
13 unchanged sentences
(10) Calculated as interest-bearing debt and related swap agreements plus stockholders' equity.
−Removed: Herman Miller, Inc.
−Removed: and Subsidiaries 22
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.