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Steelcase Inc. – ‘10-Q’ for 8/26/22 – ‘R17’

On:  Friday, 9/23/22, at 12:32pm ET   ·   For:  8/26/22   ·   Accession #:  1050825-22-130   ·   File #:  1-13873

Previous ‘10-Q’:  ‘10-Q’ on 6/24/22 for 5/27/22   ·   Next:  ‘10-Q’ on 12/21/22 for 11/25/22   ·   Latest:  ‘10-Q’ on 12/20/23 for 11/24/23

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  As Of               Filer                 Filing    For·On·As Docs:Size

 9/23/22  Steelcase Inc.                    10-Q        8/26/22   59:6.9M

Quarterly Report   —   Form 10-Q

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report                                    HTML   1.70M 
 2: EX-31.1     Certification -- §302 - SOA'02                      HTML     20K 
 3: EX-31.2     Certification -- §302 - SOA'02                      HTML     20K 
 4: EX-32.1     Certification -- §906 - SOA'02                      HTML     19K 
10: R1          Cover Page                                          HTML     70K 
11: R2          Condensed Consolidated Statements Of Operations     HTML     94K 
12: R3          Condensed Consolidated Statements Of Comprehensive  HTML     44K 
                Income (Loss)                                                    
13: R4          Condensed Consolidated Balance Sheets               HTML    146K 
14: R5          Condensed Consolidated Balance Sheets               HTML     23K 
                (Parenthetical)                                                  
15: R6          Condensed Consolidated Statement of Changes in      HTML    105K 
                Shareholders' Equity Statement                                   
16: R7          Condensed Consolidated Statements Of Cash Flows     HTML    104K 
17: R8          Basis Of Presentation                               HTML     20K 
18: R9          Accounting Policies                                 HTML     28K 
19: R10         Revenue (Notes)                                     HTML     64K 
20: R11         Earnings (Loss) Per Share                           HTML     54K 
21: R12         Accumulated Other Comprehensive Income (Loss)       HTML     77K 
22: R13         Fair Value                                          HTML     73K 
23: R14         Inventories                                         HTML     26K 
24: R15         Debt                                                HTML     18K 
25: R16         Share-Based Compensation                            HTML     68K 
26: R17         Leases, Codification Topic 842                      HTML     47K 
27: R18         Business Combinations                               HTML     48K 
28: R19         Reportable Segments                                 HTML     58K 
29: R20         Restructuring and Related Activities                HTML     29K 
30: R21         Subsequent Events                                   HTML     18K 
31: R22         Revenue (Tables)                                    HTML     62K 
32: R23         Earnings Per Share (Tables)                         HTML     52K 
33: R24         Accumulated Other Comprehensive Income (Loss)       HTML     79K 
                (Tables)                                                         
34: R25         Fair Value (Tables)                                 HTML     74K 
35: R26         Inventories (Tables)                                HTML     27K 
36: R27         Share-Based Compensation (Tables)                   HTML     66K 
37: R28         Leases, Codification Topic 842 (Tables)             HTML     51K 
38: R29         Business Combinations (Tables)                      HTML     43K 
39: R30         Reportable Segments (Tables)                        HTML     52K 
40: R31         Restructuring and Related Activities (Tables)       HTML     27K 
41: R32         Basis Of Presentation (Details)                     HTML     19K 
42: R33         New Accounting Standards (Details)                  HTML     20K 
43: R34         Revenue (Details)                                   HTML     68K 
44: R35         Earnings Per Share (Details)                        HTML     64K 
45: R36         Accumulated Other Comprehensive Income (Loss)       HTML     75K 
                (Details)                                                        
46: R37         Fair Value Narrative (Details)                      HTML     67K 
47: R38         Inventories (Details)                               HTML     29K 
48: R39         Debt (Details)                                      HTML     35K 
49: R40         Share-Based Compensation (Details)                  HTML    100K 
50: R41         Leases, Codification Topic 842 (Details)            HTML     54K 
51: R42         Business Combinations (Details)                     HTML     88K 
52: R43         Reportable Segments (Details)                       HTML     50K 
53: R44         Restructuring and Related Activities (Details)      HTML     36K 
54: R45         Subsequent Events (Details)                         HTML     21K 
57: XML         IDEA XML File -- Filing Summary                      XML    101K 
55: XML         XBRL Instance -- scs-20220826_htm                    XML   1.93M 
56: EXCEL       IDEA Workbook of Financial Reports                  XLSX     98K 
 6: EX-101.CAL  XBRL Calculations -- scs-20220826_cal                XML    141K 
 7: EX-101.DEF  XBRL Definitions -- scs-20220826_def                 XML    403K 
 8: EX-101.LAB  XBRL Labels -- scs-20220826_lab                      XML   1.16M 
 9: EX-101.PRE  XBRL Presentations -- scs-20220826_pre               XML    634K 
 5: EX-101.SCH  XBRL Schema -- scs-20220826                          XSD    100K 
58: JSON        XBRL Instance as JSON Data -- MetaLinks              325±   474K 
59: ZIP         XBRL Zipped Folder -- 0001050825-22-000130-xbrl      Zip    308K

‘R17’   —   Leases, Codification Topic 842

This is an IDEA Financial Report.  [ Alternative Formats ]

 
 <>  v3.22.2.2
Leases, Codification Topic 842
 6 Months Ended
Leases [Abstract]  
Lessee, Operating Leases LEASES
We have operating leases for corporate offices, sales offices, showrooms, manufacturing and distribution facilities, vehicles and equipment that expire at various dates through 2036. Certain lease agreements include contingent rental payments based on per unit usage over contractual levels (e.g., miles driven or machine hours operated) and others include rental payments adjusted periodically for inflationary indexes. Additionally, some leases include options to renew or terminate the leases which can be exercised at our discretion.
The components of lease expense for the three and six months ended August 26, 2022 and August 27, 2021 are as follows:
Three Months EndedSix Months Ended
August 26,
2022		August 27,
2021		August 26,
2022		August 27,
2021
Operating lease cost$13.5 $13.2 $25.6 $26.3 
Sublease rental income(0.5)(0.5)(1.1)(0.9)
$13.0 $12.7 $24.5 $25.4 
Supplemental cash flow and other information related to leases for the three and six months ended August 26, 2022 and August 27, 2021 are as follows:
Three Months EndedSix Months Ended
August 26,
2022		August 27,
2021		August 26,
2022		August 27,
2021
Cash flow information:
Operating cash flows used for operating leases$13.6 $13.4 $27.1 $26.8 
Leased assets obtained in exchange for new operating lease obligations$10.3 $15.7 $13.5 $17.3 
As of August 26, 2022 and August 27, 2021, the weighted-average remaining lease terms were 5.6 years and 6.2 years, respectively, and the weighted-average discount rates were 3.7% and 3.7%, respectively.
The following table summarizes the future minimum lease payments as of August 26, 2022:
Fiscal year ending in FebruaryAmount (1)
2023$23.3 
202449.0 
202544.7 
202634.9 
202728.1 
Thereafter53.0 
Total lease payments$233.0 
Less: Interest23.6 
Present value of lease liabilities$209.4 
_______________________________________
(1)Lease payments include options to extend lease terms that are reasonably certain of being exercised. The payments exclude legally binding minimum lease payments for leases signed but not yet commenced.

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing    Date    Other Filings
Filed on:9/23/22
For Period end:8/26/22
8/27/2110-Q
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Filing Submission 0001050825-22-000130   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
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