Question

1 Approved Answer

Posted on Jul 15, 2024

B D E G H 45.8 1233 1 Herman Miller 2 Income Statement Inputs are highlighted Common 3 (000,000's omitted) Size RMA 4 FYE %

B D E G H 45.8 1233 1 Herman Miller 2 Income Statement Inputs are highlighted Common 3 (000,000's omitted) Size RMA 4 FYE % FYE % FYE % FYE % FYE % of Ind 5 5/28/11 Chng 6/2/12 Chng 6/1/13 Chng 5/31/14 Chng 5/30/15 Sales Comp 8 Gross Margin 538.1 10% 590.6 2% 605.2 4% 631.0 - 100% 0.0#DIV/0! 28.3% 9 Selling, Gen & Adm Exp. 329.8 9% 360.5 10% 394.8 33% 526.5 - 100% #DIV/01 10 Research & Design 15% 527 14% 59.9 10% 65.9 - 100% #DIVO! 11 Restr & Impair Exp 3.0 80% 5.4 -78% 1.2 2108% 26.5 -100% 12 Depreciation Exp. 362 -5% 34.4 0% 34.4 10% 37.8 - 100% #DIV/0! 13 Total Operating Exp 414.8 9% 453.0 8% 490.3 34% 656.7 - 100% 0.0#DIV/01 23.8% 14. EBIT 12% 1376 -16% 114.9 - 122% (25.7) - 100% 0.0 #DIV/O! 4.5% 15 Less Expenses (Income) 16 Interest Expense 19.9 -12% 175 -2% 17.2 2% 17.8 -100% #DIV/0! 17 Interest (Income) (1.5) -33% (10) -60% (0:4) n/a (0.4) n/a #DIV/0! 18 Other Expenses (Income) 24 16 0.9 05 19 Net Other Expenses (Income) 20.8 - 13% 18.1 2% 17.7 0% 17.7 -100% 0.0 #DIV/DI 20 EBT 102.5 17% 119.5 -19% 972 - 145% (434) -100% 0.0 WDIV/OI 21 Taxes & Cum Elf of Act Cha 317 40% 443 29.0 - 1739 (213) -100% DIVOI 22 Net Income 70.8 694 75.29% 68.2 - 13294 (22.1) 100% 0.0 DIVOI 23 24 25 26 Depretation Expenses are included in the total Selling, General and Administration Expense. In order to calculate Cash Flow 27 you will need to look for the amount of Depreciation Epense by clicking on the Noles to Financial Statements section on Edgar.com 28 Under the notes section you will click on Supplemental Disclosure of Cash Flow Information to obtian the Depreciation Expense 29 You will then need to reduce the amount of total Selling, General & Administration Expenses in Cell J9 above to reflect the amount of 30 Depretation Expense broken out . (See the formula in Cell H9 for example) 31 32 35% c H L K RMA Industry Comp 4.5% 40.3% 29.2% 2.0% FYE % 5/31/14 Chng 101.5 -100% 204.3 -100% 784 -100% 11.1 -100% 56 5 -100% 451,8 4100% 1992 -100% 195.2 -100% 3133 -100% 30.6 -100% 990.9 -100% Common Size FYE % of 5/30/15 Tot Assets #DIV/0! #DIV/01 #DIV/0! #DIV/0! #DIV/0! 0.0 #DIV/0! 78.0% 1841 6% #DIV/0! 0.0 #DIV/OI #DIV/0! #DIV/! 0.0 #DIV/0! 16.7% 0.0% 7.4% 100.0% B D E F G Herman Miller Inputs are highlighted 2 Balance Sheet (000,000's onnitted) 3 FYE % FYE % FYE % ASSETS 5/28/11 Chng 6/2M2 Chng 6/1/13 Chng 5 Cash & Cash Equivalents 1422 21% 17212 -52% 82.7 23% Acct. Rec. less allowances 193,1 -17% 159.7 12% 178.4 15% Inventory 88.2 -10% 593 28% 78.2 3% 8 Marketable Securities 11.0 -13% 9,6 13% 10.8 3% 9 Other Current Assets 592 545 512 20 Total Current Assets 4717 -3% 455.3 -12% 399.3 13% 42 Net Property. Plant & Equip 1691 -8% 156.0 18% 1841 8% 13 Fixed Assets (Not) 189.17 -8% 156.0 18% 44 Goodwin & Intangible Assets 1579 216.8 33713 15 Other Assets 9.3 18% 11110 135% 25 19% 16 Total Assets 808.0 4% 8391 13% 946,5 5% 17 18 LIABILITIES 19 Notes Payable Bank 0.0 0.0 0.0 20 Accounts Payable 112.7 3% 115.8 12% 130.1 5% 21 Accruals 153.1 137.9 159.9 6% 22 Current Matures - LTD 0.0 0.0 23 Other Current Liabilities 0.0 0.0 24 Total Current Liabilities 265.8 -5% 2537 14% 2900 23% 28 Long Tam Debt CLTD) 250.0 0% 250.0 0% 250.0 -20% 27 Other Llabios 872 0% 871 870 28 Total abilities 8% 6270 1994 30 Redeemable Noncontrolling in 0.0 #DIV/0 0.0 DIV/01 0.0 BDIV/01 31 Common Stock 1% 112 0% 11.2 296 32 Retained Eamings 218.2 32% 2882 15% 3311 -16% 33 Acoum Other Comprehen 003 1425 119 (1282) 34 Additional Paid in Capital 820 90.9 13% 10219 19% 35 Total Equity 2050 21 2483 29% 319.5 16% 37 Total Liabilities & Equity 808.0 494 0391 13% 948,5 38 16% 0.0 136.9 1892 50.0 -100% -100% 12.5% 18.7% 0.8% 1.3% 8.5% 41.696 0% 289 6.7% 7.2% 55.5% 603.0 -2% 590,8 #DIVO! #DIVIO DIV/OI F #DIV/01 #DIV/0! 0.07 DIV/O #DIV/01 #DIV/01 0.0 #DIV/0! DIV/01 DIV/01 DIV/0! DIVOI NDIV/0! #DIV/OI 00wOVO 356.1 -100% 2000 -100% 027 -100% 618.8 -100% 0.0 HDIV/01 11.9 -100% 2774 -100% 13915 -100% 122.4 -100% 37211 100% 116 33% -89% 44.39% 5% 990.0 -100% 100.0% 40 E F G Herman Miller RMA Industry Comparison 5/28/11 6/1/13 5/30/15 6/2/12 5/31/14 1 RATIO ANALYSIS 2 3 4 LIQUIDITY 5 Current 8 Quick BASSET MANAGEMENT Inventory Tumover 10 (COGS/ Inventory) 11 Total Asset Tumover inco 1.8 1.6 1.4 1.1 1.3 1.0 F 2.1 0.9 #DIV/0! #DIV/0! 16.8 19.1 15.4 16.0 #DIV/0! 6.2 2.0 2.1 1.9 1.9 2.3 #DIV/0! 37 40 #DIV/0! 51 - 24 23 #DIV/01 59 41 40 #DIV/0! 37 20 23 #DIV/0! 73 5.6 6.7 2.0 8.7 -1.5 1.7 0.7 #DIV/01 #DIV/OI #DIV/01 1.5 19 DSO (AR Period) 43 34 14 (365/AR Tumoven 15 Inventory Period 22 19 10 (365/inventory Tumover) 17 Days in AP (AP Period) 37 37 11 365COGS/AP) 19 Cash Cycle 27 16 20 LEVERAGE 22 TIE (EBIT/Interest) 6.2 7.9 23 Debt/Equity 29 24 24 Cash Coverage Ratio 8.0 9.8 26 PROFITABILITY 27 % Profit BT/Tot Assets 12.69% 14.24% 28 Gross Profit 3263% 34 26% 29 PM (NVS los) 4.29% 4,36% 31 DuPont Analysis: ROEROA EM, ROAPM'TAT 32 ROE (NI/Total Equity) 34,54% 30 29% 35 ROA (NI/Total Assets) 8.76% 8.96% 34 PM (NI/Sales) 4,29% 4.36% 35 Total Asset Turnover 2.04 2.05 Instructions Edgarinstructions Notes F 10.27% 34.10% 3,84% 4.38% 33,53% -1.17% #DIV/OI WDIV/0! WDIV/0! 13.40% 28.30% 4.50% 21 35% 7 21% 3,84% 1.88 Questions -5.94% #DIVO! -223% WDIV/01 F -1.17% #DIV/OI 1.90 NDIV/0! Income Statement 25.88% 10.35% 4.50% 2.30 Balance Sheet Ratios B D E G H 45.8 1233 1 Herman Miller 2 Income Statement Inputs are highlighted Common 3 (000,000's omitted) Size RMA 4 FYE % FYE % FYE % FYE % FYE % of Ind 5 5/28/11 Chng 6/2/12 Chng 6/1/13 Chng 5/31/14 Chng 5/30/15 Sales Comp 8 Gross Margin 538.1 10% 590.6 2% 605.2 4% 631.0 - 100% 0.0#DIV/0! 28.3% 9 Selling, Gen & Adm Exp. 329.8 9% 360.5 10% 394.8 33% 526.5 - 100% #DIV/01 10 Research & Design 15% 527 14% 59.9 10% 65.9 - 100% #DIVO! 11 Restr & Impair Exp 3.0 80% 5.4 -78% 1.2 2108% 26.5 -100% 12 Depreciation Exp. 362 -5% 34.4 0% 34.4 10% 37.8 - 100% #DIV/0! 13 Total Operating Exp 414.8 9% 453.0 8% 490.3 34% 656.7 - 100% 0.0#DIV/01 23.8% 14. EBIT 12% 1376 -16% 114.9 - 122% (25.7) - 100% 0.0 #DIV/O! 4.5% 15 Less Expenses (Income) 16 Interest Expense 19.9 -12% 175 -2% 17.2 2% 17.8 -100% #DIV/0! 17 Interest (Income) (1.5) -33% (10) -60% (0:4) n/a (0.4) n/a #DIV/0! 18 Other Expenses (Income) 24 16 0.9 05 19 Net Other Expenses (Income) 20.8 - 13% 18.1 2% 17.7 0% 17.7 -100% 0.0 #DIV/DI 20 EBT 102.5 17% 119.5 -19% 972 - 145% (434) -100% 0.0 WDIV/OI 21 Taxes & Cum Elf of Act Cha 317 40% 443 29.0 - 1739 (213) -100% DIVOI 22 Net Income 70.8 694 75.29% 68.2 - 13294 (22.1) 100% 0.0 DIVOI 23 24 25 26 Depretation Expenses are included in the total Selling, General and Administration Expense. In order to calculate Cash Flow 27 you will need to look for the amount of Depreciation Epense by clicking on the Noles to Financial Statements section on Edgar.com 28 Under the notes section you will click on Supplemental Disclosure of Cash Flow Information to obtian the Depreciation Expense 29 You will then need to reduce the amount of total Selling, General & Administration Expenses in Cell J9 above to reflect the amount of 30 Depretation Expense broken out . (See the formula in Cell H9 for example) 31 32 35% c H L K RMA Industry Comp 4.5% 40.3% 29.2% 2.0% FYE % 5/31/14 Chng 101.5 -100% 204.3 -100% 784 -100% 11.1 -100% 56 5 -100% 451,8 4100% 1992 -100% 195.2 -100% 3133 -100% 30.6 -100% 990.9 -100% Common Size FYE % of 5/30/15 Tot Assets #DIV/0! #DIV/01 #DIV/0! #DIV/0! #DIV/0! 0.0 #DIV/0! 78.0% 1841 6% #DIV/0! 0.0 #DIV/OI #DIV/0! #DIV/! 0.0 #DIV/0! 16.7% 0.0% 7.4% 100.0% B D E F G Herman Miller Inputs are highlighted 2 Balance Sheet (000,000's onnitted) 3 FYE % FYE % FYE % ASSETS 5/28/11 Chng 6/2M2 Chng 6/1/13 Chng 5 Cash & Cash Equivalents 1422 21% 17212 -52% 82.7 23% Acct. Rec. less allowances 193,1 -17% 159.7 12% 178.4 15% Inventory 88.2 -10% 593 28% 78.2 3% 8 Marketable Securities 11.0 -13% 9,6 13% 10.8 3% 9 Other Current Assets 592 545 512 20 Total Current Assets 4717 -3% 455.3 -12% 399.3 13% 42 Net Property. Plant & Equip 1691 -8% 156.0 18% 1841 8% 13 Fixed Assets (Not) 189.17 -8% 156.0 18% 44 Goodwin & Intangible Assets 1579 216.8 33713 15 Other Assets 9.3 18% 11110 135% 25 19% 16 Total Assets 808.0 4% 8391 13% 946,5 5% 17 18 LIABILITIES 19 Notes Payable Bank 0.0 0.0 0.0 20 Accounts Payable 112.7 3% 115.8 12% 130.1 5% 21 Accruals 153.1 137.9 159.9 6% 22 Current Matures - LTD 0.0 0.0 23 Other Current Liabilities 0.0 0.0 24 Total Current Liabilities 265.8 -5% 2537 14% 2900 23% 28 Long Tam Debt CLTD) 250.0 0% 250.0 0% 250.0 -20% 27 Other Llabios 872 0% 871 870 28 Total abilities 8% 6270 1994 30 Redeemable Noncontrolling in 0.0 #DIV/0 0.0 DIV/01 0.0 BDIV/01 31 Common Stock 1% 112 0% 11.2 296 32 Retained Eamings 218.2 32% 2882 15% 3311 -16% 33 Acoum Other Comprehen 003 1425 119 (1282) 34 Additional Paid in Capital 820 90.9 13% 10219 19% 35 Total Equity 2050 21 2483 29% 319.5 16% 37 Total Liabilities & Equity 808.0 494 0391 13% 948,5 38 16% 0.0 136.9 1892 50.0 -100% -100% 12.5% 18.7% 0.8% 1.3% 8.5% 41.696 0% 289 6.7% 7.2% 55.5% 603.0 -2% 590,8 #DIVO! #DIVIO DIV/OI F #DIV/01 #DIV/0! 0.07 DIV/O #DIV/01 #DIV/01 0.0 #DIV/0! DIV/01 DIV/01 DIV/0! DIVOI NDIV/0! #DIV/OI 00wOVO 356.1 -100% 2000 -100% 027 -100% 618.8 -100% 0.0 HDIV/01 11.9 -100% 2774 -100% 13915 -100% 122.4 -100% 37211 100% 116 33% -89% 44.39% 5% 990.0 -100% 100.0% 40 E F G Herman Miller RMA Industry Comparison 5/28/11 6/1/13 5/30/15 6/2/12 5/31/14 1 RATIO ANALYSIS 2 3 4 LIQUIDITY 5 Current 8 Quick BASSET MANAGEMENT Inventory Tumover 10 (COGS/ Inventory) 11 Total Asset Tumover inco 1.8 1.6 1.4 1.1 1.3 1.0 F 2.1 0.9 #DIV/0! #DIV/0! 16.8 19.1 15.4 16.0 #DIV/0! 6.2 2.0 2.1 1.9 1.9 2.3 #DIV/0! 37 40 #DIV/0! 51 - 24 23 #DIV/01 59 41 40 #DIV/0! 37 20 23 #DIV/0! 73 5.6 6.7 2.0 8.7 -1.5 1.7 0.7 #DIV/01 #DIV/OI #DIV/01 1.5 19 DSO (AR Period) 43 34 14 (365/AR Tumoven 15 Inventory Period 22 19 10 (365/inventory Tumover) 17 Days in AP (AP Period) 37 37 11 365COGS/AP) 19 Cash Cycle 27 16 20 LEVERAGE 22 TIE (EBIT/Interest) 6.2 7.9 23 Debt/Equity 29 24 24 Cash Coverage Ratio 8.0 9.8 26 PROFITABILITY 27 % Profit BT/Tot Assets 12.69% 14.24% 28 Gross Profit 3263% 34 26% 29 PM (NVS los) 4.29% 4,36% 31 DuPont Analysis: ROEROA EM, ROAPM'TAT 32 ROE (NI/Total Equity) 34,54% 30 29% 35 ROA (NI/Total Assets) 8.76% 8.96% 34 PM (NI/Sales) 4,29% 4.36% 35 Total Asset Turnover 2.04 2.05 Instructions Edgarinstructions Notes F 10.27% 34.10% 3,84% 4.38% 33,53% -1.17% #DIV/OI WDIV/0! WDIV/0! 13.40% 28.30% 4.50% 21 35% 7 21% 3,84% 1.88 Questions -5.94% #DIVO! -223% WDIV/01 F -1.17% #DIV/OI 1.90 NDIV/0! Income Statement 25.88% 10.35% 4.50% 2.30 Balance Sheet Ratios