SEC Comment Letter for MILLERKNOLL, INC. (MLKN) (CIK 0000066382) (MLKN) — Mar 1, 2018
MILLERKNOLL, INC. (MLKN) (CIK 0000066382)
Date: March 1, 2018 · CIK: 0000066382 · Accession: 0000000000-18-006618
AI Filing Summary & Sentiment
Reasoning
Referenced dates: January 31, 2018
Letter
Mail Stop 4631 March 1, 2018 Via email Mr. Jeffrey M. Stutz Executive Vice President & Chief Financial Officer Herman Miller, Inc. 855 East Main Ave Zeeland, MI 49464
Re: Herman Miller, Inc. Form 10 -K Filed August 1 , 2017 File No. 1 -15141
Dear Mr. Stutz:
We have read your response dated February 15, 2018, and have the following comment . We may ask you to provide us with information so we may better understand your disclosure.
Please respond to this comment within ten busine ss days by providing the requested information or advis e us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this comment , we may have additional comments.
Form 10 -K for the year ended June 3, 2017
Critical Accounting Policies and Estimates, page 35
Good will and Indefinite -lived Intangibles, page 35
1. We have read your response to comment 5 in our letter dated January 31, 2018. You have indicated that the percentage by which the fair value of the Consumer reporting unit exceeded its carrying value was 15% as of June 3, 2017. To the extent you consider this percentage, or any future change in this percentage, not significantly in excess of carrying value, please provide the disclosures requested in our prior comment 5.
Mr. Jeffrey M. Stutz Herman Miller, Inc. March 1, 2018 Page 2
We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Jenn Do at (202) 551 -3743 or me at (202) 551 -3854 if you have questions regarding comments on the financial statements and related matters.
Sincerely,
/s/ Melissa N. Rocha
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Mail Stop 4631 March 1, 2018 Via email Mr. Jeffrey M. Stutz Executive Vice President & Chief Financial Officer Herman Miller, Inc. 855 East Main Ave Zeeland, MI 49464 Re: Herman Miller, Inc. Form 10 -K Filed August 1 , 2017 File No. 1 -15141 Dear Mr. Stutz: We have read your response dated February 15, 2018, and have the following comment . We may ask you to provide us with information so we may better understand your disclosure. Please respond to this comment within ten busine ss days by providing the requested information or advis e us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this comment , we may have additional comments. Form 10 -K for the year ended June 3, 2017 Critical Accounting Policies and Estimates, page 35 Good will and Indefinite -lived Intangibles, page 35 1. We have read your response to comment 5 in our letter dated January 31, 2018. You have indicated that the percentage by which the fair value of the Consumer reporting unit exceeded its carrying value was 15% as of June 3, 2017. To the extent you consider this percentage, or any future change in this percentage, not significantly in excess of carrying value, please provide the disclosures requested in our prior comment 5. Mr. Jeffrey M. Stutz Herman Miller, Inc. March 1, 2018 Page 2 We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Jenn Do at (202) 551 -3743 or me at (202) 551 -3854 if you have questions regarding comments on the financial statements and related matters. Sincerely, /s/ Melissa N. Rocha Melissa N. Rocha Senior Assistant Chief Accountant Office of Manufacturing and Construction