STEELCASE INC
CIK:0001050825|SEC Filings
Condensed Consolidated Statements Of Operations - USD ($) $ in Millions |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Aug. 29, 2025 |
Aug. 23, 2024 |
Aug. 29, 2025 |
Aug. 23, 2024 |
|
| Revenue | $ 897.1 | $ 855.8 | $ 1,676.1 | $ 1,583.1 |
| Cost of sales | 585.0 | 558.5 | 1,099.2 | 1,044.4 |
| Gross profit | 308.5 | 295.4 | 572.3 | 529.8 |
| Operating expenses | 247.1 | 205.1 | 477.2 | 422.6 |
| Operating income | 53.1 | 90.0 | 78.6 | 107.6 |
| Interest expense | (6.3) | (6.4) | (12.6) | (12.6) |
| Investment income | 2.3 | 2.9 | 5.2 | 5.3 |
| Other income (expense), net | 3.0 | (0.6) | (0.3) | (0.3) |
| Income before income tax expense | 52.1 | 85.9 | 70.9 | 100.0 |
| Income tax expense | 17.1 | 22.8 | 22.3 | 26.0 |
| Net income | $ 35.0 | $ 63.1 | $ 48.6 | $ 74.0 |
| Earnings per share | ||||
| Basic | $ 0.29 | $ 0.53 | $ 0.41 | $ 0.63 |
| Diluted | 0.29 | 0.53 | 0.41 | 0.62 |
| Dividends declared and paid per common share | $ 0.100 | $ 0.100 | $ 0.200 | $ 0.200 |
| Cost of Sales | ||||
| Cost of Sales - Restructuring costs | $ 3.6 | $ 1.9 | $ 4.6 | $ 8.9 |
| Operating Expense | ||||
| Operating Expenses - Restructuring costs | $ 8.3 | $ 0.3 | $ 16.5 | $ (0.4) |
Condensed Consolidated Balance Sheets - USD ($) $ in Millions |
Aug. 29, 2025 |
Feb. 28, 2025 |
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|---|---|---|---|---|---|---|
| Assets, Current [Abstract] | ||||||
| Cash and cash equivalents | $ 216.8 | $ 346.3 | ||||
| Short-Term Investments | 41.1 | 41.6 | ||||
| Accounts Receivable, after Allowance for Credit Loss, Current | 369.8 | 323.1 | ||||
| Inventories, net | 288.0 | 245.7 | ||||
| Prepaid expenses | 42.5 | 37.5 | ||||
| Other Assets, Current | 48.9 | 34.8 | ||||
| Assets, Current, Total | 1,007.1 | 1,029.0 | ||||
| Property, Plant and Equipment, Net | 343.0 | 328.1 | ||||
| Company-owned life insurance ("COLI") | 168.9 | 170.4 | ||||
| Deferred income taxes | 154.9 | 166.8 | ||||
| Goodwill | 276.5 | 273.5 | ||||
| Intangible Assets, Net (Excluding Goodwill) | 70.0 | 77.0 | ||||
| Investments in unconsolidated affiliates | 56.0 | 53.3 | ||||
| Operating Lease, Right-of-Use Asset | 160.8 | 141.2 | ||||
| Other Assets, Noncurrent | 114.8 | 91.1 | ||||
| Assets, Total | 2,352.0 | 2,330.4 | ||||
| Liabilities, Current [Abstract] | ||||||
| Accounts payable | 234.0 | 228.2 | ||||
| Current operating lease obligations | 40.3 | 39.7 | ||||
| Employee compensation | 133.9 | 187.3 | ||||
| Employee benefit plan obligations | 36.0 | 49.7 | ||||
| Accrued promotions | 28.5 | 23.5 | ||||
| Customer deposits | 58.4 | 43.0 | ||||
| Other Accrued Liabilities, Current | 76.0 | 97.7 | ||||
| Liabilities, Current, Total | 607.1 | 669.1 | ||||
| Long-term liabilities: | ||||||
| Long-Term Debt, Excluding Current Maturities | 447.4 | 447.1 | ||||
| Employee benefit plan obligations | 98.3 | 100.7 | ||||
| Long-term operating lease obligations | 132.8 | 113.9 | ||||
| Other Liabilities, Noncurrent | 50.0 | 47.9 | ||||
| Total long-term liabilities | 728.5 | 709.6 | ||||
| Liabilities, Total | 1,335.6 | 1,378.7 | ||||
| Shareholders' equity: | ||||||
| Additional Paid in Capital | [1] | 41.5 | 29.3 | |||
| Accumulated Other Comprehensive Income (Loss), Net of Tax | (35.5) | (63.5) | ||||
| Retained earnings | 1,010.4 | 985.9 | ||||
| Total shareholders’ equity | 1,016.4 | 951.7 | ||||
| Liabilities and Equity, Total | 2,352.0 | 2,330.4 | ||||
| Preferred Stock | ||||||
| Long-term liabilities: | ||||||
| Preferred Stock, Value, Issued | 0.0 | 0.0 | ||||
| Shareholders' equity: | ||||||
| Preferred Stock, Value, Issued | 0.0 | 0.0 | ||||
| Common Class A [Member] | ||||||
| Long-term liabilities: | ||||||
| Common Stock, Value, Issued | [2] | 0.0 | 0.0 | |||
| Shareholders' equity: | ||||||
| Common Stock, Value, Issued | [2] | 0.0 | 0.0 | |||
| Common Class B [Member] | ||||||
| Long-term liabilities: | ||||||
| Common Stock, Value, Issued | [2] | 0.0 | 0.0 | |||
| Shareholders' equity: | ||||||
| Common Stock, Value, Issued | [2] | $ 0.0 | $ 0.0 | |||
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