FIN 4596 SPRING 2024 - FACULTY FILE MILLER KNOLL, INC. CASE Income Statement Information Fiscal Year Ended $ in millions Net sales Cost of sales Gross margin Operating expenses: SG&A Impairment charges Restructuring expenses Design and research Total operating expenses Actual Actual Actual 5/28/22 5/29/21 5/30/20 $ 3,946.0 $ 2,465.1 $ 2,486.6 2,593.3 1,514.0 1,575.4 1,352.7 951.1 911.2 Margin % 34.3% 38.6% 36.6% 1,204.2 643.8 643.3 205.4 2.7 26.4 108.7 72.1 74.0 1,312.9 718.6 949.1 Operating income 39.8 232.5 (37.9) Interest expense 37.8 13.9 12.5 Operating income less interest expense 2.0 218.6 (50.4) Adjustments: Impairment charges Restructuring expenses 2.7 205.4 26.4 Knoll transaction and integration expenses Depreciation Amortization Impairment charges on 2022 cash flow statement 125.0 - 112.0 72.0 68.1 78.6 15.2 11.4 15.5 - Operating income less interest adjusted for depreciation/amortization and non-recurring items ROE based on above operating income Margin % less interest adjusted for D&A and non-recurring n/a