MILLERKNOLL, INC.MLKN

MILLERKNOLL, INC. Earnings Per Share Disclosure

10-KFiled Jul 21, 20251 min read
Common Stock and Per Share Information
The following table reconciles the numerators and denominators used in the calculations of basic and diluted EPS for each of the last three fiscal years:
(In millions, except shares)202520242023
Numerator:  
Numerator for both basic and diluted EPS, Net (loss) earnings attributable to MillerKnoll, Inc.$(36.9) $82.3  $42.1 
Denominator:
Denominator for basic EPS, weighted-average common shares outstanding68,977,267  73,291,939  75,478,000 
Potentially dilutive shares resulting from stock plans—  662,817  546,368 
Denominator for diluted EPS68,977,267  73,954,756  76,024,368 
Equity awards of 2,773,092 shares, 2,198,708 shares and 2,119,223 shares of common stock were excluded from the denominator for the computation of diluted earnings per share for the fiscal years ended May 31, 2025, June 1, 2024, and June 3, 2023, respectively, because they were anti-dilutive.
Common Stock
On January 16, 2019, the Company announced a share repurchase plan authorized by the Board of Directors providing for a share repurchase authorization of $250.0 million with no specified expiration date. On July 16, 2024, the Company announced that the Board of Directors approved an increase to this repurchase plan to authorize an additional $200.0 million to fund share repurchases. The approximate dollar value of shares available for purchase under the plan was $181.4 million as of May 31, 2025. During fiscal year 2025, 2024, and 2023, shares repurchased under the repurchase plan totaled 3,291,176, 6,022,646, and 575,207 shares respectively.

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.

Other Available Disclosures

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