Knoll (KNL) 10-Q 7 May 21 2021 Q1 Quarterly report Financial data

COVER

COVER - shares	3 Months Ended
	Mar. 31, 2021	May 06, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-12907
Entity Registrant Name	KNOLL, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-3873847
Entity Address, Address Line One	1235 Water Street
Entity Address, City or Town	East Greenville
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	18041
City Area Code	215
Local Phone Number	679-7991
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	KNL
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0001011570
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		50,812,680
Restricted Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		1,424,739

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 10.8	$ 37.3
Customer receivables, net	77.6	83.4
Inventories	206.5	193.1
Prepaid expenses	12.3	13.7
Other current assets	40.8	37.3
Total current assets	348	364.8
Property, plant, and equipment, net	236.9	237.1
Goodwill	341.1	349.8
Intangible assets, net	340.1	347.9
Right-of-use lease assets	181.8	150
Other non-current assets	3.4	3.5
Total assets	1,451.3	1,453.1
Current liabilities:
Current maturities of long-term debt	14.5	14.6
Accounts payable	103.7	101.1
Current portion of lease liability	29.8	27.2
Other current liabilities	128	113.5
Total current liabilities	276	256.4
Long-term debt, net	269.3	295.2
Deferred income taxes	96	93.9
Pension liability	15.2	24.2
Lease liability	173.1	141.2
Other non-current liabilities	18.3	29.3
Total liabilities	847.9	840.2
Commitments and contingent liabilities (Note 9)
Convertible preferred stock, $1.00 par value; authorized 10,000,000 shares; issued and outstanding 169,165 shares	166.9	165.1
Shareholders’ equity: (shares in thousands)
Common stock,$0.01 par value; 200,000 shares authorized; 67,918 and 67,458 shares issued, respectively, 50,813 and 50,645 shares outstanding, respectively, net, at all periods, of treasury shares and inclusive of non voting restricted shares	0.5	0.5
Additional paid-in capital	75.2	75.4
Retained earnings	410.9	417.7
Accumulated other comprehensive loss	(50.1)	(45.8)
Total shareholders’ equity	436.5	447.8
Total liabilities, convertible preferred stock and shareholders’ equity	$ 1,451.3	$ 1,453.1

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Convertible preferred stock, par value (USD per share)	$ 1	$ 1
Convertible preferred stock, shares authorized (in shares)	10,000,000,000	10,000,000,000
Convertible preferred stock, issued (in shares)	169,165,000	169,165,000
Convertible preferred stock, outstanding (in shares)	169,165,000	169,165,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	67,918,000	67,458,000
Common stock, shares outstanding (in shares)	50,813,000	50,645,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Sales	$ 264.2	$ 340
Cost of sales	168.5	217.7
Gross profit	95.7	122.3
Selling, general, and administrative expenses	89.8	103.3
Restructuring charges	3.6	7.6
Operating profit	2.3	11.4
Interest expense	3	4.9
Pension settlement charges	1.6	0.7
Other (income) expense, net	(0.6)	(1.2)
Income (loss) before income tax expense	(1.7)	7
Income tax expense (benefit)	0.2	(3.9)
Net earnings (loss)	(1.9)	10.9
Less: Net earnings attributable to Preferred stockholders	(1.9)	0
Net earnings (loss) attributable to common stockholders	$ (3.8)	$ 10.9
Net earnings (loss) per share:
Basic (in dollars per share)	$ (0.08)	$ 0.22
Diluted (in dollars per share)	$ (0.08)	$ 0.22
Weighted-average common shares outstanding: (in thousands)
Basic (in shares)	49,264	48,973
Diluted (in shares)	49,264	49,708
Other comprehensive income (loss), net of tax:
Unrealized gains (losses) on cash flow hedge, net of amounts reclassified into earnings	$ 1.1	$ (4.6)
Pension and other post-employment liability adjustments	7.2	(8.4)
Foreign currency translation adjustments	(3.8)	(9.3)
Foreign currency translation adjustments on long-term intercompany notes	(8.8)	(1.6)
Total other comprehensive income (loss), net	(4.3)	(23.9)
Total comprehensive income (loss)	$ (6.2)	$ (13)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings (loss)	$ (1.9)	$ 10.9
Adjustments to reconcile net earnings (loss) to cash provided by (used in) operating activities:
Depreciation and amortization	10.7	11.1
Stock-based compensation	4.2	1.6
Deferred income tax expense (benefit)	0.6	(6.3)
Amortization of debt issuance costs	0.2	0.2
Non-cash restructuring charges	0.9	0.3
Pension settlement charges	1.6	0.7
Other non-cash items	0.3	1.1
Changes in operating assets and liabilities:
Customer receivables	5.4	(9.4)
Inventories	(15.1)	(10.2)
Prepaid expenses and other assets	(3.2)	(0.8)
Accounts payable	3.8	(6.8)
Other liabilities	7.1	(8.8)
Cash provided by (used in) operating activities	14.6	(16.4)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(8.9)	(10.7)
Other, net	(0.2)	0.4
Cash used in investing activities	(9.1)	(10.3)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from revolving credit facility	92	219.5
Repayment of revolving credit facility	(112)	(53.5)
Repayment of term loans	(3.6)	(4.2)
Payment of dividends	(3.6)	(8.9)
Payments of withholding taxes related to net share settlements of equity awards	(4.3)	(3.8)
Other, net	(0.1)	0
Cash provided by (used in) financing activities	(31.6)	149.1
Effect of exchange rate changes on cash and cash equivalents	(0.4)	(0.3)
Net increase (decrease) in cash and cash equivalents	(26.5)	122.1
Cash and cash equivalents at beginning of period	37.3	8.5	$ 8.5
Cash and cash equivalents at end of period	$ 10.8	$ 130.6	$ 37.3

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	NOTE 1. BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements of Knoll, Inc. (the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries and any partially-owned subsidiaries that the Company has the ability to control. All significant intercompany balances and transactions have been eliminated in consolidation. Operating results for the three months ended March 31, 2021, are not necessarily indicative of the results that may be expected for the year ended December 31, 2021. Certain reclassifications have been made to prior year balances to conform to current year presentation in the condensed consolidated statement of cash flows. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Segment Reorganization Effective as of the beginning of the first quarter of 2021, the Company implemented a segment reorganization in order to more closely align its segment reporting with its current operating structure (the “Segment Reorganization”). The Company’s new reportable segments are: Workplace and Lifestyle. The Workplace reportable segment is comprised of the operations of the Workplace operating segment, which, following the Segment Reorganization, reflects the reassignment of the Spinneybeck and KnollTextiles businesses from the Lifestyle segment, as well as the reassignment of the Europe Office business from the legacy Office segment to the Lifestyle segment. The Lifestyle reportable segment is an aggregation of the Holly Hunt, Muuto, KnollStudio North America and Europe operating segments. All prior comparative periods presented have been recast to conform to these changes. See Note 16 for additional information about the Company’s segments. Use of Estimates U.S. GAAP requires management to make estimates and assumptions that affect reported amounts and disclosures. These estimates and assumptions take into account historical and forward looking factors that the Company believes are reasonable, including, but not limited to, the potential impacts arising from the coronavirus pandemic of 2019 (“COVID-19”) and public and private sector policies and initiatives aimed at reducing its transmission. As the extent and duration of the impacts of COVID-19 remain unclear, the Company’s estimates and assumptions may evolve as conditions change. Actual results could differ significantly from those estimates. Examples of significant estimates include the allowance for credit losses, the recoverability of property, plant and equipment, the incremental borrowing rate for lease liabilities, the recoverability of intangible assets and other long-lived assets, fair value measurements, including those related to financial instruments, goodwill and intangible assets, valuation allowances on tax assets, pension and postretirement benefit obligations, contingencies and the identification and valuation of assets acquired and liabilities assumed in connection with business combinations.

REVENUE

REVENUE	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
REVENUE	NOTE 2. REVENUE Disaggregation of Revenue The Company’s revenue presented as “Sales” in the Condensed Consolidated Statements of Operations and Comprehensive Income is derived from contracts with customers for the sale of the Company’s products. The Company’s sales by commercial and residential customers were as follows (in millions): Three Months Ended March 31, 2021 2020 Workplace Segment Commercial $ 123.1 $ 211.4 Residential 27.3 16.1 Total Workplace Segment 150.4 227.5 Lifestyle Segment Commercial 38.0 58.2 Residential 75.8 54.3 Total Lifestyle Segment 113.8 112.5 Total Sales $ 264.2 $ 340.0 Contract Balances The Company’s contract assets consist of trade receivables, the balances of which are included in Customer receivables, net in the Condensed Consolidated Balance Sheets. These amounts represent the amount of consideration the Company expects to be entitled to in exchange for the goods delivered to its customers. When the Company receives deposits, the recognition of revenue is generally deferred and results in the recognition of a contract liability (Customer deposits), which is included in Other current liabilities in the Condensed Consolidated Balance Sheets. Subsequent recognition of revenue and discharge of the contract liability typically occurs within a year of a deposit receipt, as the Company’s standard contract is less than one year. As of March 31, 2021 and December 31, 2020, the contract liability related to customer deposits was $44.1 million and $33.8 million, respectively. During the three months ended March 31, 2021 and 2020, the Company recognized revenues that were included in the contract liability at the beginning of the respective year of $19.8 million and $19.0 million, respectively. Allowance for Doubtful Accounts The following table sets forth the changes in the Company’s allowance for doubtful accounts for the three months ended March 31, 2021 (in millions): Balance at December 31, 2020 $ 4.9 Provision for doubtful accounts — Write-offs, net of recoveries and other (0.1) Balance at March 31, 2021 $ 4.8

INVENTORIES

INVENTORIES	3 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
INVENTORIES	NOTE 3. INVENTORIES Inventories consisted of the following as of the dates presented (in millions): March 31, 2021 December 31, 2020 Raw materials $ 52.8 $ 49.3 Work-in-process 7.6 6.7 Finished goods 146.1 137.1 $ 206.5 $ 193.1

PENSION AND OTHER POST-EMPLOYME

PENSION AND OTHER POST-EMPLOYMENT BENEFITS	3 Months Ended
	Mar. 31, 2021
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
PENSION AND OTHER POST-EMPLOYMENT BENEFITS	NOTE 4. PENSION AND OTHER POST-EMPLOYMENT BENEFITS The following tables set forth the components of the net periodic benefit cost (credit) for the Company’s pension and other post-employment benefit plans (in millions): Pension Benefits Other Benefits Three Months Ended March 31, Three Months Ended March 31, 2021 2020 2021 2020 Interest cost $ 1.1 $ 1.5 $ 0.1 $ — Expected return on plan assets (2.3) (2.7) — — Amortization of prior service credit — — (0.1) — Recognized actuarial loss 0.4 0.3 — — Pension settlement charge (1) 1.6 0.7 — — Net periodic benefit cost (credit) $ 0.8 $ (0.2) $ — $ — (1) The pension settlement charge was related to payments for lump sum elections.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 5. FAIR VALUE MEASUREMENTS The fair values of the Company’s cash and cash equivalents, classified as Level 1 within the fair value hierarchy, approximate carrying value due to their short maturities. The fair value of the Company’s long-term debt, classified as Level 2 within the fair value hierarchy, approximates its carrying value, as it is variable rate debt and the terms are comparable to market terms as of the balance sheet dates. Recurring Fair Value Measurements The Company measures certain financial liabilities at fair value on a recurring basis. The following table summarizes the valuation of those liabilities as of the dates presented (in millions): Fair Value as of March 31, 2021 Fair Value as of December 31, 2020 Liabilities: Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Interest rate swap $ — $ 7.6 $ — $ 7.6 $ — $ 9.0 $ — $ 9.0 Contingent consideration obligations (1) — — 13.4 13.4 — — 14.5 14.5 (1) In connection with the Company’s acquisition of FHI LLC (“Fully”) in August 2019, the Company is contingently liable to make additional payments in the form of consideration based upon the achievement of certain performance targets. As of March 31, 2021, the maximum remaining amount of contingent consideration that could be earned through 2023 is $13.8 million (see Notes 4 and 11 to the Company’s 2020 Annual Report on Form 10-K for additional information on the Fully acquisition, the valuation of the related contingent consideration and the accounting treatment applied to any changes thereof). Interest Rate Swap The fair value of the interest rate swap is based on observable prices as quoted for receiving the variable one-month LIBOR and paying fixed interest rates and therefore is classified as Level 2 within the fair value hierarchy. Contingent Consideration Obligations The fair value measurement of the Company’s contingent consideration obligations is based on significant, unobservable inputs for which little or no market data exists, and thus represents a Level 3 measurement. The contingent consideration obligations are revalued each reporting period, with changes in fair value recognized in the Condensed Consolidated Statements of Operations. The valuation inputs utilized to estimate the fair value of the contingent consideration obligations as of March 31, 2021, included a discount rate of 2.5%, Fully’s net sales and earnings before interest, taxes, depreciation and amortization (“EBITDA”) for the three months ended March 31, 2021, and projections related to Fully’s net sales and EBITDA for each of the calendar years 2021 through 2023.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	NOTE 6. DERIVATIVE INSTRUMENTS The Company is exposed to certain market risks, including the effect of changes in interest rates on future interest payments to be made on its variable rate debt. The Company utilizes a derivative instrument to mitigate its financial exposure to interest rate volatility. The derivative instrument, which is placed with a financial institution that the Company believes to be of acceptable credit risk, takes the form of an interest rate swap. The Company does not use derivatives for speculative trading purposes. Cash flow hedge In January 2018, the Company entered into an interest rate swap contract, which is designated as a cash flow hedge of the forecasted interest payments associated with a portion of the Company’s variable rate debt. The interest rate swap hedges one-month LIBOR, which effectively converts a portion of the variable rate debt to a fixed interest rate. The interest rate swap effective date was December 31, 2018, matures January 23, 2023 and carries a fixed rate of 2.63%. As of March 31, 2021, the interest rate swap has a notional amount of $200.0 million, which decreases over time by $50 million increments. The following table summarizes the fair value of the Company’s derivative instrument, as well as the location of this instrument on the Condensed Consolidated Balance Sheets as of the dates presented (in millions): Derivatives designated as hedging instruments Balance Sheet Location March 31, 2021 December 31, 2020 Derivative liabilities: Interest rate swap Other current liabilities $ 4.7 $ 5.1 Interest rate swap Other non-current liabilities 2.9 3.9 Total derivative liabilities $ 7.6 $ 9.0 The fair value of the swap recorded in Accumulated Other Comprehensive Loss (“AOCL”) may be recognized in the Condensed Consolidated Statement of Operations if certain terms of the agreement change, are modified or if the loan is extinguished. As of March 31, 2021, there was no hedge ineffectiveness associated with the Company’s interest rate swap and no portion of the cash flow hedge is excluded from the assessment of effectiveness. The Company reclassified $1.3 million from AOCL to interest expense within the Condensed Consolidated Statement of Operations during the three months ended March 31, 2021. Based on the forward interest rate curve in place as of March 31, 2021, the Company expects to reclassify approximately $4.7 million of unrealized losses related to its cash flow hedge from AOCL into earnings in the next twelve months.

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	3 Months Ended
	Mar. 31, 2021
Other Liabilities Disclosure [Abstract]
OTHER CURRENT LIABILITIES	NOTE 7. OTHER CURRENT LIABILITIES Other current liabilities are comprised of the following (in millions): March 31, 2021 December 31, 2020 Customer deposits $ 44.1 $ 33.8 Accrued employee compensation 21.8 25.8 Current portion of contingent consideration 11.1 1.2 Warranty 10.3 10.5 Other 40.7 42.2 Other current liabilities $ 128.0 $ 113.5

INDEBTEDNESS

INDEBTEDNESS	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
INDEBTEDNESS	NOTE 8. INDEBTEDNESS The following table summarizes the Company’s long-term debt as of the dates presented (in millions): March 31, 2021 December 31, 2020 Revolving credit facility $ 41.0 $ 61.0 U.S. term loans 193.3 196.2 Multi-currency term loans 52.7 56.0 Total long-term debt 287.0 313.2 Less: Current maturities of long-term debt 14.5 14.6 Less: Unamortized debt issuance costs 3.2 3.4 Long-term debt, net $ 269.3 $ 295.2 Credit Facility The commitments and available borrowing capacity under the revolving credit facility (the “Revolver”) were as follows as of the dates presented (in millions): Commitments Outstanding Borrowings Letters of Credit Outstanding Borrowing Capacity (1) March 31, 2021 $ 400.0 $ 41.0 $ 5.1 $ 353.9 December 31, 2020 $ 400.0 $ 61.0 $ 5.1 $ 333.9 (1) The Company's actual borrowing availability under the Revolver as of March 31, 2021 is constrained by certain financial covenants. At March 31, 2021, borrowings under the Revolver are comprised of $41.0 million of loans at a LIBOR rate of 1.61%. At December 31, 2020, borrowings under the Revolver were comprised of $61.0 million of loans at a weighted-average LIBOR rate of 1.65%. As of March 31, 2021 and December 31, 2020, letters of credit issued under the Revolver incurred interest at the rate of 1.50%, while commitments fees on the undrawn portion of the Revolver were charged at a rate of 0.225%.

CONTINGENT LIABILITIES AND COMM

CONTINGENT LIABILITIES AND COMMITMENTS	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
CONTINGENT LIABILITIES AND COMMITMENTS	NOTE 9. CONTINGENT LIABILITIES AND COMMITMENTS Litigation The Company is currently involved in matters of litigation and legal proceedings, including environmental contingencies, arising in the ordinary course of business. The Company accrues for such matters when expenditures are probable and reasonably estimable. Based upon information presently known, management is of the opinion that such litigation, either individually or in the aggregate, will not have a material adverse effect on the Company’s financial position, results of operations, or cash flows. Warranty The Company provides for estimated product warranty expenses, which are included in Other current liabilities, when related products are sold. Because warranty estimates are forecasts that are based on the best available information, primarily historical claims experience, future warranty claims may differ from the amounts accrued. Changes in the warranty reserve are as follows (in millions): Balance, December 31, 2020 $ 10.5 Provision for warranty claims 0.8 Warranty claims settled (1.0) Balance, March 31, 2021 $ 10.3 Warranty expense for the three months ended March 31, 2021 and 2020 was $0.8 million and $2.0 million, respectively.

RESTRUCTURING AND OTHER COST RE

RESTRUCTURING AND OTHER COST REDUCTION INITIATIVES	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND OTHER COST REDUCTION INITIATIVES	NOTE 10. RESTRUCTURING AND OTHER COST REDUCTION INITIATIVES During 2020, management approved and implemented several restructuring actions and other cost reduction initiatives to optimize the Company’s North American manufacturing and supply chain operations, as well as eliminate certain corporate costs. As of March 31, 2021, all of the workforce reductions announced under these prior year actions have been completed. The facilities-related cost reduction measures initiated during the second half of 2020 are expected to be completed by the end of 2021. During the first quarter of 2021, the Company executed on its previously disclosed plans to close or vacate five of its domestic showrooms. In connection therewith, the Company recognized non-cash asset impairment charges of approximately $0.9 million related to certain ROU assets and leasehold improvements. In addition, the Company expanded on its previously disclosed cost reduction actions with the commencement of various workforce reductions during the first quarter of 2021, some of which have been implemented and all of which are expected to be completed by the end of the third quarter of 2021, depending upon local legal requirements. These workforce reductions have occurred or will occur across all geographies in which the Company operates, and will result in the elimination of approximately 50 additional positions to those reported in 2020. The positions impacted are primarily within the Workplace segment. The Company expects to incur additional charges of approximately $2.8 million, comprised of severance and other one-time termination benefits, facilities-related charges and other associated costs during the remainder of 2021. The Company anticipates making cash payments totaling approximately $5.8 million. During the three months ended March 31, 2021, the Company recognized total restructuring charges of $3.6 million, attributable to the Workplace and Lifestyle segments in the amounts of $2.2 million and $0.2 million, respectively, and to Corporate in the amount of $1.2 million. During the three months ended March 31, 2020, the Company recognized total restructuring charges of $8.2 million, attributable to the Workplace and Lifestyle segments in the amounts of $7.9 million and $0.3 million, respectively. Changes in restructuring obligations during the three months ended March 31, 2021 are summarized as follows: North America Operations Optimization Workforce Reduction and Other Cost Initiatives Total Balance as of December 31, 2020 $ 0.1 $ 2.0 $ 2.1 Provisions and accruals 0.8 1.9 2.7 Cash payments (0.6) (1.2) (1.8) Balance as of March 31, 2021 $ 0.3 $ 2.7 $ 3.0

EQUITY

EQUITY	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
EQUITY	NOTE 11. EQUITY The following table summarizes the components of shareholders’ equity and the changes therein during the three months ended March 31, 2021 and (in millions, except share information): Common Additional Retained Accumulated Total Equity Balance at December 31, 2020 $ 0.5 $ 75.4 $ 417.7 $ (45.8) $ 447.8 Net loss — — (1.9) — (1.9) Other comprehensive loss — — — (4.3) (4.3) Stock-based compensation, net (1) — 4.2 — — 4.2 Dividends declared on preferred stock (2) — — (1.8) — (1.8) Dividends declared on common stock ($0.06 per share) — — (3.1) — (3.1) Purchase of common stock (277,043 shares) — (4.4) — — (4.4) Balance at March 31, 2021 $ 0.5 $ 75.2 $ 410.9 $ (50.1) $ 436.5 (1) Effective February 12, 2021, the Company amended the terms of market-based restricted stock units (“MBRSUs”) granted in February 2018 by (i) eliminating the third year of the contractual three two (2) The Company exercised its payable in kind (“PIK”) dividend option in connection with the dividend paid on March 31, 2021. The following table summarizes the change in the number of shares of common stock outstanding during the three months ended March 31, 2021 (table in thousands and is inclusive of restricted shares): Shares outstanding as of December 31, 2020 50,645 Shares issued under stock incentive plans, net of awards surrendered to pay applicable taxes 168 Shares outstanding as of March 31, 2021 50,813 The following table summarizes the components of shareholders’ equity and the changes therein during the three months ended March 31, 2020 (in millions, except share information): Common Additional Retained Accumulated Total Equity Balance at December 31, 2019 $ 0.5 $ 66.8 $ 429.7 $ (69.4) $ 427.6 Net earnings — — 10.9 — 10.9 Other comprehensive loss — — — (23.9) (23.9) Stock-based compensation, net — 1.6 — — 1.6 Dividends declared ($0.17 per share) — — (8.5) — (8.5) Purchase of common stock (154,012 shares) — (4.0) — — (4.0) Balance at March 31, 2020 $ 0.5 $ 64.4 $ 432.1 $ (93.3) $ 403.7 The following table summarizes the change in the number of shares of common stock outstanding during the three months ended March 31, 2020 (table in thousands and is inclusive of restricted shares): Shares outstanding as of December 31, 2019 49,775 Shares issued under stock incentive plans, net of awards surrendered to pay applicable taxes 874 Shares outstanding as of March 31, 2020 50,649

PREFERRED STOCK

PREFERRED STOCK	3 Months Ended
	Mar. 31, 2021
Temporary Equity Disclosure [Abstract]
PREFERRED STOCK	NOTE 12. PREFERRED STOCK The following table presents a roll-forward of the Company’s preferred stock for the three months ended March 31, 2021 (in millions, except shares, which are in thousands): Shares Par Additional Paid in Capital Total Balance at December 31, 2020 167 $ 0.2 $ 164.9 $ 165.1 Dividends declared and paid in kind 2 — 1.8 1.8 Balance at March 31, 2021 169 $ 0.2 $ 166.7 $ 166.9

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	NOTE 13. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes the changes in AOCL by component for the three months ended March 31, 2021 (in millions): Unrealized gains (losses) on Interest Rate Swaps Foreign Foreign Currency Translation Adjustment on Long-term Intercompany Notes Pension and Total Balance as of December 31, 2020 $ (6.7) $ (7.9) $ 5.0 $ (36.2) $ (45.8) Other comprehensive income (loss) before reclassifications 0.1 (3.8) (8.8) 7.8 (4.7) Amounts reclassified from AOCL 1.3 — — 1.9 3.2 Net current period other comprehensive income (loss) before income tax 1.4 (3.8) (8.8) 9.7 (1.5) Income tax expense (0.3) — — (2.5) (2.8) Other comprehensive income (loss) 1.1 (3.8) (8.8) 7.2 (4.3) Balance as of March 31, 2021 $ (5.6) $ (11.7) $ (3.8) $ (29.0) $ (50.1) The following pension and other post-employment benefit reclassifications were made from AOCL to the Condensed Consolidated Statements of Operations and Other Comprehensive Income (in millions): Three Months Ended March 31, 2021 2020 Amortization of pension and other post-employment liability adjustments Prior service credits (1) $ (0.1) $ — Actuarial losses (1) 0.4 0.3 Pension settlement charge 1.6 0.7 Total before tax 1.9 1.0 Income tax expense (0.4) (0.2) Net of tax $ 1.5 $ 0.8 (1) These AOCL components are included in the computation of net periodic pension costs, and are included in Other income, net within the Condensed Consolidated Statements of Operations and Comprehensive Income. See Note 4 for additional information. The following table summarizes the unrealized gains (losses) on derivative instruments, including the impact of components reclassified into net income from AOCL, for the three months ended March 31, 2021 and 2020 (in millions): Three Months Ended March 31, 2021 2020 Unrealized gain (loss) on derivative instruments $ 0.1 $ (6.8) Loss on derivatives reclassified into income 1.3 0.6 Total before tax 1.4 (6.2) Tax (expense) benefit (0.3) 1.6 Net of tax $ 1.1 $ (4.6)

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	NOTE 14. EARNINGS PER SHARE Basic earnings per share (“EPS”) is computed by dividing net income applicable to common stockholders for the period by the weighted-average number of shares of common stock outstanding during the same period. The Company’s Series A Preferred Stock shares are considered participating securities, as these securities have non-forfeitable rights to participating dividends (as defined in the Investment Agreement) if and to the extent that the Company pays any participating dividends, and thus require the two-class method of computing EPS. Under the two-class method, all earnings (distributed and undistributed) are allocated between the common shares and the participating securities. For the three months ended March 31, 2021, there were no undistributed earnings allocated to the participating securities. Diluted EPS is similarly computed, but includes the weighted-average dilutive effect, if any, of all outstanding potentially dilutive securities. Diluted EPS is calculated under the treasury stock method for equity awards issued under the Company’s stock compensation plans, and under both the two-class and if-converted methods for the Series A Preferred Stock, with the more dilutive amount reported. Potentially dilutive securities having an anti-dilutive effect are excluded from the calculation. The following table sets forth the computation of basic and diluted EPS for the periods presented (in millions): Three Months Ended March 31, 2021 2020 Numerator: Net earnings (loss) $ (1.9) $ 10.9 Less: Preferred stock dividends (1.9) — Net earnings (loss) attributable to common stockholders (Basic and Diluted) $ (3.8) $ 10.9 Denominator: (shares in thousands) Denominator for basic EPS - weighted-average shares 49,264 48,973 Potentially dilutive shares resulting from stock plans (1) — 735 Denominator for diluted EPS - weighted-average shares 49,264 49,708 Net earnings (loss) per share: Basic $ (0.08) $ 0.22 Diluted $ (0.08) $ 0.22

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 15. INCOME TAXES The Company develops interim income tax provisions based on estimates of the effective tax rates expected to apply per tax domicile for the current annual reporting period. These estimates are reevaluated each quarter and updated as necessary. The tax effects of any discrete items are recorded in the period in which they occur and are excluded from the interim estimates of the effective annual rates. On March 27, 2020, the U.S. federal government enacted tax legislation under the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) in response to the economic impacts of the spread of COVID-19. The CARES Act provides, among other things, relief to corporate taxpayers by permitting additional carryback allowances for net operating losses (“NOLs”) incurred for periods beginning after January 1, 2017 and before January 1, 2021. The CARES Act also provides changes to the limitations on interest expense deductibility for tax years beginning in 2019 and 2020. For the three months ended March 31, 2021 and 2020, the Company recognized income tax expense at an effective rate of negative 8.8% and an income tax benefit at an effective rate of negative 54.6%, respectively. The negative effective tax rate for the three months ended March 31, 2021, was primarily resultant from discrete items recorded in the period related to share-based payment arrangements, while the negative effective benefit rate for the three months ended March 31, 2020, was primarily resultant from the rate differential applied to the carryback of NOLs to tax years when the U.S. federal income tax rate was 35.0%, compared to the 21.0% rate applicable to all periods included in these condensed consolidated financial statements. Period over period changes in the effective rates at which a tax expense or benefit was recognized were primarily driven by the impact of the CARES Act and the significant restructuring costs incurred during the first quarter of 2020, neither of which applied to the same degree during the first quarter of 2021. Additional factors impacting the change in rates include timing and quantity of equity award vesting transactions and changes in the relative taxable income in the countries and states in which the Company operates.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
SEGMENT INFORMATION	NOTE 16. SEGMENT INFORMATION Following the Segment Reorganization (see Note 1), the Company’s operations are comprised of the Workplace and Lifestyle segments. The Workplace segment includes a complete range of products that address diverse workplace planning paradigms in North America. These products include: office systems furniture, seating, storage, tables (conference, training), desks (fixed and height-adjustable), textiles, high-quality fabrics, felt, leather and KnollExtra® accessories. The businesses comprising the Workplace segment serve a broad range of customers, from geographically diverse global accounts to consumers and small businesses, and do so through various physical and digital interfaces, including a direct sales force, Company and dealer showrooms, and multiple e-commerce platforms. The Lifestyle segment product offerings, which are distributed globally, include iconic seating, lounge furniture, side, café and dining chairs, dining and occasional tables, lighting, rugs, leather and related architectural products. The businesses comprising the Lifestyle segment serve affordable luxury and high-end luxury markets that often blur the distinction between commercial and residential spaces, but understand and appreciate the impact that furnishings borne out of exceptional design and made with high-quality, innovative materials can have on their respective environments. Lifestyle products are sold through a global network of showrooms, e-commerce websites, retail stores, independent dealers and a direct sales force. Corporate costs include unallocated costs relating to shared services and general corporate activities such as legal expenses, acquisition expenses, certain finance, human resources, administrative and executive expenses and other expenses that are not directly attributable to an operating segment. Dedicated, direct selling, general and administrative expenses of the segments are included within segment operating profit. Management regularly reviews the costs included in the Corporate function and believes disclosing such information provides more visibility and transparency into how the chief operating decision maker reviews the results for the Company. The following table summarizes segment operating results for the periods presented. Segment results for the three months ended March 31, 2020, have been restated to conform to current year presentation (in millions): Three Months Ended March 31, 2021 2020 SALES (1) Workplace $ 150.4 $ 227.5 Lifestyle 113.8 112.5 Knoll, Inc. $ 264.2 $ 340.0 OPERATING PROFIT Workplace $ (3.6) $ 9.3 Lifestyle 12.8 8.2 Corporate (6.9) (6.1) Knoll, Inc. $ 2.3 $ 11.4 (1) Sales presented above are to external customers only. Intersegment sales were not material during any of the periods presented. Changes in the carrying amount of goodwill by reportable segment for the three months ended March 31, 2021, are as follows (in millions): Workplace Lifestyle Total Balance as of January 1, 2021 $ 100.7 $ 249.1 $ 349.8 Foreign currency translation adjustment 0.1 (8.8) (8.7) Balance as of March 31, 2021 $ 100.8 $ 240.3 $ 341.1 In connection with the Segment Reorganization, certain of the Company’s reporting units have changed in composition, and goodwill was reallocated between such reporting units using a relative fair value approach. Accordingly, the Company performed interim goodwill impairment tests in the first quarter of 2021. Based on the results of the tests performed, the Company determined that the fair value of each reporting unit, as reorganized, exceeded its respective carrying amount in each case.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENT	NOTE 17. SUBSEQUENT EVENT On April 19, 2021, Knoll, Inc. (the “Company”) and Herman Miller, Inc. (“Herman Miller”) announced the entry into an Agreement and Plan of Merger, dated April 19, 2021 (the “Merger Agreement”), by and among the Company, Herman Miller and Heat Merger Sub, Inc., a wholly owned subsidiary of Herman Miller (“Merger Sub”). The Merger Agreement provides that, among other things and subject to the terms and conditions of the Merger Agreement, Merger Sub will merge into the Company (the “Merger”), with the Company continuing as the surviving corporation and as a wholly-owned subsidiary of Herman Miller. At the effective time of the merger, each share of Knoll, Inc. common stock outstanding immediately prior to the effective time will be automatically converted into the right to receive $11.00 in cash and 0.32 shares of Herman Miller common stock. Additionally, all unvested restricted stock, performance-based restricted stock units (“PBRSUs”) and MBRSUs will be exchanged for awards to be settled in Herman Miller common stock based on the Equity Award Exchange Ratio (as defined in the Merger Agreement). Certain of the PBRSUs and all of the MBRSUs will be modified to set the performance measurement to be achieved at 100% and to continue to vest based solely on the respective service period. In connection with the closing of the transaction, Herman Miller will purchase all of the outstanding shares of Knoll Inc.’s preferred stock from Investindustrial VII L.P. (“Investindustrial”) for a fixed cash consideration of $253 million, representing an equivalent price of $25.06 for each underlying share of Knoll, Inc. common stock. Investindustrial has entered into a voting agreement to vote in favor of the transaction at the special meeting of Knoll shareholders to be held in connection with the transaction. The transaction is expected to close by the end of the third quarter of 2021, subject to the approval by Knoll and Herman Miller shareholders, the receipt of required regulatory approvals and the satisfaction of closing conditions. The Merger Agreement contains certain termination rights for the Company and Herman Miller. Upon termination of the Merger Agreement under specified circumstances, such as the Company’s acceptance of a superior proposal or the Company’s Board of Directors’ withdrawal of its recommendation regarding the planned transaction, or failure to obtain the necessary approval from the Company’s shareholders, the Company may be required to pay Herman Miller a termination fee as high as $43.0 million. Likewise, should the stockholders of Herman Miller fail to approve the transaction, or otherwise if Herman Miller is not able to complete the transaction (as described in the 8-K filed on April 22, 2021), Herman Miller would be required to pay a termination fee to the Company.

BASIS OF PRESENTATION (Policies

BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements of Knoll, Inc. (the “Company”) have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries and any partially-owned subsidiaries that the Company has the ability to control. All significant intercompany balances and transactions have been eliminated in consolidation. Operating results for the three months ended March 31, 2021, are not necessarily indicative of the results that may be expected for the year ended December 31, 2021. Certain reclassifications have been made to prior year balances to conform to current year presentation in the condensed consolidated statement of cash flows. For further information, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
Segment Reorganization	Effective as of the beginning of the first quarter of 2021, the Company implemented a segment reorganization in order to more closely align its segment reporting with its current operating structure (the “Segment Reorganization”). The Company’s new reportable segments are: Workplace and Lifestyle. The Workplace reportable segment is comprised of the operations of the Workplace operating segment, which, following the Segment Reorganization, reflects the reassignment of the Spinneybeck and KnollTextiles businesses from the Lifestyle segment, as well as the reassignment of the Europe Office business from the legacy Office segment to the Lifestyle segment. The Lifestyle reportable segment is an aggregation of the Holly Hunt, Muuto, KnollStudio North America and Europe operating segments. All prior comparative periods presented have been recast to conform to these changes. See Note 16 for additional information about the Company’s segments.
Use of Estimates	U.S. GAAP requires management to make estimates and assumptions that affect reported amounts and disclosures. These estimates and assumptions take into account historical and forward looking factors that the Company believes are reasonable, including, but not limited to, the potential impacts arising from the coronavirus pandemic of 2019 (“COVID-19”) and public and private sector policies and initiatives aimed at reducing its transmission. As the extent and duration of the impacts of COVID-19 remain unclear, the Company’s estimates and assumptions may evolve as conditions change. Actual results could differ significantly from those estimates. Examples of significant estimates include the allowance for credit losses, the recoverability of property, plant and equipment, the incremental borrowing rate for lease liabilities, the recoverability of intangible assets and other long-lived assets, fair value measurements, including those related to financial instruments, goodwill and intangible assets, valuation allowances on tax assets, pension and postretirement benefit obligations, contingencies and the identification and valuation of assets acquired and liabilities assumed in connection with business combinations.

REVENUE (Tables)

REVENUE (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Sales by Product Category	The Company’s sales by commercial and residential customers were as follows (in millions): Three Months Ended March 31, 2021 2020 Workplace Segment Commercial $ 123.1 $ 211.4 Residential 27.3 16.1 Total Workplace Segment 150.4 227.5 Lifestyle Segment Commercial 38.0 58.2 Residential 75.8 54.3 Total Lifestyle Segment 113.8 112.5 Total Sales $ 264.2 $ 340.0
Allowance for Doubtful Accounts	The following table sets forth the changes in the Company’s allowance for doubtful accounts for the three months ended March 31, 2021 (in millions): Balance at December 31, 2020 $ 4.9 Provision for doubtful accounts — Write-offs, net of recoveries and other (0.1) Balance at March 31, 2021 $ 4.8

INVENTORIES (Tables)

INVENTORIES (Tables)	3 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following as of the dates presented (in millions): March 31, 2021 December 31, 2020 Raw materials $ 52.8 $ 49.3 Work-in-process 7.6 6.7 Finished goods 146.1 137.1 $ 206.5 $ 193.1

PENSION AND OTHER POST-EMPLOY_2

PENSION AND OTHER POST-EMPLOYMENT BENEFITS (Tables)	3 Months Ended
	Mar. 31, 2021
Pension and Other Postretirement Benefits Cost (Reversal of Cost) [Abstract]
Schedule of Components of the Net Periodic Benefit Cost	The following tables set forth the components of the net periodic benefit cost (credit) for the Company’s pension and other post-employment benefit plans (in millions): Pension Benefits Other Benefits Three Months Ended March 31, Three Months Ended March 31, 2021 2020 2021 2020 Interest cost $ 1.1 $ 1.5 $ 0.1 $ — Expected return on plan assets (2.3) (2.7) — — Amortization of prior service credit — — (0.1) — Recognized actuarial loss 0.4 0.3 — — Pension settlement charge (1) 1.6 0.7 — — Net periodic benefit cost (credit) $ 0.8 $ (0.2) $ — $ — (1) The pension settlement charge was related to payments for lump sum elections.

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Liabilities Measured at Fair Value on a Recurring Basis	The following table summarizes the valuation of those liabilities as of the dates presented (in millions): Fair Value as of March 31, 2021 Fair Value as of December 31, 2020 Liabilities: Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Interest rate swap $ — $ 7.6 $ — $ 7.6 $ — $ 9.0 $ — $ 9.0 Contingent consideration obligations (1) — — 13.4 13.4 — — 14.5 14.5 (1) In connection with the Company’s acquisition of FHI LLC (“Fully”) in August 2019, the Company is contingently liable to make additional payments in the form of consideration based upon the achievement of certain performance targets. As of March 31, 2021, the maximum remaining amount of contingent consideration that could be earned through 2023 is $13.8 million (see Notes 4 and 11 to the Company’s 2020 Annual Report on Form 10-K for additional information on the Fully acquisition, the valuation of the related contingent consideration and the accounting treatment applied to any changes thereof).
Fair Value Measurements, Nonrecurring	The following table presents the impairment losses on assets that were measured at estimated fair value on a nonrecurring basis (in millions): Estimated Fair Value (Level 3) at measurement date Impairment recognized during the period ended (1) March 31, 2021 Operating lease right-of-use (“ROU”) assets $ 1.8 $ 0.6 Leasehold Improvements — 0.3 (1) See Note 10 for additional information on asset impairments.

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Liabilities at Fair Value	The following table summarizes the fair value of the Company’s derivative instrument, as well as the location of this instrument on the Condensed Consolidated Balance Sheets as of the dates presented (in millions): Derivatives designated as hedging instruments Balance Sheet Location March 31, 2021 December 31, 2020 Derivative liabilities: Interest rate swap Other current liabilities $ 4.7 $ 5.1 Interest rate swap Other non-current liabilities 2.9 3.9 Total derivative liabilities $ 7.6 $ 9.0

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2021
Other Liabilities Disclosure [Abstract]
Schedule of Other Current Liabilities	Other current liabilities are comprised of the following (in millions): March 31, 2021 December 31, 2020 Customer deposits $ 44.1 $ 33.8 Accrued employee compensation 21.8 25.8 Current portion of contingent consideration 11.1 1.2 Warranty 10.3 10.5 Other 40.7 42.2 Other current liabilities $ 128.0 $ 113.5

INDEBTEDNESS (Tables)

INDEBTEDNESS (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Summary of Long-term Debt	The following table summarizes the Company’s long-term debt as of the dates presented (in millions): March 31, 2021 December 31, 2020 Revolving credit facility $ 41.0 $ 61.0 U.S. term loans 193.3 196.2 Multi-currency term loans 52.7 56.0 Total long-term debt 287.0 313.2 Less: Current maturities of long-term debt 14.5 14.6 Less: Unamortized debt issuance costs 3.2 3.4 Long-term debt, net $ 269.3 $ 295.2
Schedule of Revolving Credit Facility	The commitments and available borrowing capacity under the revolving credit facility (the “Revolver”) were as follows as of the dates presented (in millions): Commitments Outstanding Borrowings Letters of Credit Outstanding Borrowing Capacity (1) March 31, 2021 $ 400.0 $ 41.0 $ 5.1 $ 353.9 December 31, 2020 $ 400.0 $ 61.0 $ 5.1 $ 333.9

CONTINGENT LIABILITIES AND CO_2

CONTINGENT LIABILITIES AND COMMITMENTS (Tables)	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Schedule of Changes in the Warranty Reserve	Changes in the warranty reserve are as follows (in millions): Balance, December 31, 2020 $ 10.5 Provision for warranty claims 0.8 Warranty claims settled (1.0) Balance, March 31, 2021 $ 10.3

RESTRUCTURING AND OTHER COST _2

RESTRUCTURING AND OTHER COST REDUCTION INITIATIVES (Tables)	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Summary of Restructuring Cost Reserve	Changes in restructuring obligations during the three months ended March 31, 2021 are summarized as follows: North America Operations Optimization Workforce Reduction and Other Cost Initiatives Total Balance as of December 31, 2020 $ 0.1 $ 2.0 $ 2.1 Provisions and accruals 0.8 1.9 2.7 Cash payments (0.6) (1.2) (1.8) Balance as of March 31, 2021 $ 0.3 $ 2.7 $ 3.0

EQUITY (Tables)

EQUITY (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Schedule of Components and Changes in Shareholders Equity	The following table summarizes the components of shareholders’ equity and the changes therein during the three months ended March 31, 2021 and (in millions, except share information): Common Additional Retained Accumulated Total Equity Balance at December 31, 2020 $ 0.5 $ 75.4 $ 417.7 $ (45.8) $ 447.8 Net loss — — (1.9) — (1.9) Other comprehensive loss — — — (4.3) (4.3) Stock-based compensation, net (1) — 4.2 — — 4.2 Dividends declared on preferred stock (2) — — (1.8) — (1.8) Dividends declared on common stock ($0.06 per share) — — (3.1) — (3.1) Purchase of common stock (277,043 shares) — (4.4) — — (4.4) Balance at March 31, 2021 $ 0.5 $ 75.2 $ 410.9 $ (50.1) $ 436.5 (1) Effective February 12, 2021, the Company amended the terms of market-based restricted stock units (“MBRSUs”) granted in February 2018 by (i) eliminating the third year of the contractual three two (2) The Company exercised its payable in kind (“PIK”) dividend option in connection with the dividend paid on March 31, 2021. The following table summarizes the components of shareholders’ equity and the changes therein during the three months ended March 31, 2020 (in millions, except share information): Common Additional Retained Accumulated Total Equity Balance at December 31, 2019 $ 0.5 $ 66.8 $ 429.7 $ (69.4) $ 427.6 Net earnings — — 10.9 — 10.9 Other comprehensive loss — — — (23.9) (23.9) Stock-based compensation, net — 1.6 — — 1.6 Dividends declared ($0.17 per share) — — (8.5) — (8.5) Purchase of common stock (154,012 shares) — (4.0) — — (4.0) Balance at March 31, 2020 $ 0.5 $ 64.4 $ 432.1 $ (93.3) $ 403.7
Schedule of Change in Number of Shares of Common Stock Outstanding	The following table summarizes the change in the number of shares of common stock outstanding during the three months ended March 31, 2021 (table in thousands and is inclusive of restricted shares): Shares outstanding as of December 31, 2020 50,645 Shares issued under stock incentive plans, net of awards surrendered to pay applicable taxes 168 Shares outstanding as of March 31, 2021 50,813 The following table summarizes the change in the number of shares of common stock outstanding during the three months ended March 31, 2020 (table in thousands and is inclusive of restricted shares): Shares outstanding as of December 31, 2019 49,775 Shares issued under stock incentive plans, net of awards surrendered to pay applicable taxes 874 Shares outstanding as of March 31, 2020 50,649

PREFERRED STOCK (Tables)

PREFERRED STOCK (Tables)	3 Months Ended
	Mar. 31, 2021
Temporary Equity Disclosure [Abstract]
Roll-forward of Preferred Stock	The following table presents a roll-forward of the Company’s preferred stock for the three months ended March 31, 2021 (in millions, except shares, which are in thousands): Shares Par Additional Paid in Capital Total Balance at December 31, 2020 167 $ 0.2 $ 164.9 $ 165.1 Dividends declared and paid in kind 2 — 1.8 1.8 Balance at March 31, 2021 169 $ 0.2 $ 166.7 $ 166.9

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Schedule of Changes in AOCL by Components	The following table summarizes the changes in AOCL by component for the three months ended March 31, 2021 (in millions): Unrealized gains (losses) on Interest Rate Swaps Foreign Foreign Currency Translation Adjustment on Long-term Intercompany Notes Pension and Total Balance as of December 31, 2020 $ (6.7) $ (7.9) $ 5.0 $ (36.2) $ (45.8) Other comprehensive income (loss) before reclassifications 0.1 (3.8) (8.8) 7.8 (4.7) Amounts reclassified from AOCL 1.3 — — 1.9 3.2 Net current period other comprehensive income (loss) before income tax 1.4 (3.8) (8.8) 9.7 (1.5) Income tax expense (0.3) — — (2.5) (2.8) Other comprehensive income (loss) 1.1 (3.8) (8.8) 7.2 (4.3) Balance as of March 31, 2021 $ (5.6) $ (11.7) $ (3.8) $ (29.0) $ (50.1)
Reclassification from AOCL	The following pension and other post-employment benefit reclassifications were made from AOCL to the Condensed Consolidated Statements of Operations and Other Comprehensive Income (in millions): Three Months Ended March 31, 2021 2020 Amortization of pension and other post-employment liability adjustments Prior service credits (1) $ (0.1) $ — Actuarial losses (1) 0.4 0.3 Pension settlement charge 1.6 0.7 Total before tax 1.9 1.0 Income tax expense (0.4) (0.2) Net of tax $ 1.5 $ 0.8 (1) These AOCL components are included in the computation of net periodic pension costs, and are included in Other income, net within the Condensed Consolidated Statements of Operations and Comprehensive Income. See Note 4 for additional information.
Summary of Unrealized Gains (Losses) on Derivative Instruments	The following table summarizes the unrealized gains (losses) on derivative instruments, including the impact of components reclassified into net income from AOCL, for the three months ended March 31, 2021 and 2020 (in millions): Three Months Ended March 31, 2021 2020 Unrealized gain (loss) on derivative instruments $ 0.1 $ (6.8) Loss on derivatives reclassified into income 1.3 0.6 Total before tax 1.4 (6.2) Tax (expense) benefit (0.3) 1.6 Net of tax $ 1.1 $ (4.6)

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted EPS for the periods presented (in millions): Three Months Ended March 31, 2021 2020 Numerator: Net earnings (loss) $ (1.9) $ 10.9 Less: Preferred stock dividends (1.9) — Net earnings (loss) attributable to common stockholders (Basic and Diluted) $ (3.8) $ 10.9 Denominator: (shares in thousands) Denominator for basic EPS - weighted-average shares 49,264 48,973 Potentially dilutive shares resulting from stock plans (1) — 735 Denominator for diluted EPS - weighted-average shares 49,264 49,708 Net earnings (loss) per share: Basic $ (0.08) $ 0.22 Diluted $ (0.08) $ 0.22

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Segment Information with Corporate Costs Excluded	The following table summarizes segment operating results for the periods presented. Segment results for the three months ended March 31, 2020, have been restated to conform to current year presentation (in millions): Three Months Ended March 31, 2021 2020 SALES (1) Workplace $ 150.4 $ 227.5 Lifestyle 113.8 112.5 Knoll, Inc. $ 264.2 $ 340.0 OPERATING PROFIT Workplace $ (3.6) $ 9.3 Lifestyle 12.8 8.2 Corporate (6.9) (6.1) Knoll, Inc. $ 2.3 $ 11.4 (1) Sales presented above are to external customers only. Intersegment sales were not material during any of the periods presented.
Schedule of Changes in the Carrying Amount of Goodwill	Changes in the carrying amount of goodwill by reportable segment for the three months ended March 31, 2021, are as follows (in millions): Workplace Lifestyle Total Balance as of January 1, 2021 $ 100.7 $ 249.1 $ 349.8 Foreign currency translation adjustment 0.1 (8.8) (8.7) Balance as of March 31, 2021 $ 100.8 $ 240.3 $ 341.1

REVENUE - Net Sales by Product

REVENUE - Net Sales by Product Category (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue from External Customer [Line Items]
Total Sales	$ 264.2	$ 340
Workplace
Revenue from External Customer [Line Items]
Total Sales	150.4	227.5
Workplace | Commercial
Revenue from External Customer [Line Items]
Total Sales	123.1	211.4
Workplace | Residential
Revenue from External Customer [Line Items]
Total Sales	27.3	16.1
Lifestyle
Revenue from External Customer [Line Items]
Total Sales	113.8	112.5
Lifestyle | Commercial
Revenue from External Customer [Line Items]
Total Sales	38	58.2
Lifestyle | Residential
Revenue from External Customer [Line Items]
Total Sales	$ 75.8	$ 54.3

REVENUE - Contract Balances (De

REVENUE - Contract Balances (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Customer deposits	$ 44.1		$ 33.8
Revenue recognized	$ 19.8	$ 19

REVENUE - Allowance for Doubtfu

REVENUE - Allowance for Doubtful Accounts (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at December 31, 2020	$ 4.9
Provision for doubtful accounts	0
Write-offs, net of recoveries and other	(0.1)
Balance at March 31, 2021	$ 4.8

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 52.8	$ 49.3
Work-in-process	7.6	6.7
Finished goods	146.1	137.1
Inventories, net	$ 206.5	$ 193.1

PENSION AND OTHER POST-EMPLOY_3

PENSION AND OTHER POST-EMPLOYMENT BENEFITS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
Pension settlement charge	$ 1.6	$ 0.7
Pension Benefits
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
Interest cost	1.1	1.5
Expected return on plan assets	(2.3)	(2.7)
Amortization of prior service credit	0	0
Recognized actuarial loss	0.4	0.3
Pension settlement charge	1.6	0.7
Net periodic benefit cost (credit)	0.8	(0.2)
Other Benefits
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
Interest cost	0.1	0
Expected return on plan assets	0	0
Amortization of prior service credit	(0.1)	0
Recognized actuarial loss	0	0
Pension settlement charge	0	0
Net periodic benefit cost (credit)	$ 0	$ 0

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of contingent consideration	$ 11.1	$ 1.2
Payment for contingent consideration	1.2
Operating lease, right-of-use asset, fair value	1.8
Operating lease, impairment	0.6
Leasehold improvements, fair value	0
Leasehold improvements, impairment	0.3
Other current liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current portion of contingent consideration	11.1
Other non-current liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability, noncurrent	2.3
Earn-Out Consideration - Fully
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Maximum future payments under the agreement	13.8
Change in fair value of consideration obligations	$ 1.1
Earn-Out Consideration - Fully | Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration, liability, discount rate	0.025
Earn-Out Consideration - Fully | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration obligations	$ 13.4	14.5
Earn-Out Consideration - Fully | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration obligations	0	0
Earn-Out Consideration - Fully | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration obligations	0	0
Earn-Out Consideration - Fully | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration obligations	13.4	14.5
Interest Rate Swap | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap	7.6	9
Interest Rate Swap | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap	0	0
Interest Rate Swap | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap	7.6	9
Interest Rate Swap | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Interest rate swap	$ 0	$ 0

DERIVATIVE INSTRUMENTS (Details

DERIVATIVE INSTRUMENTS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2018
Derivatives, Fair Value [Line Items]
Contract rate			2.63%
Loss recognized in interest expense	$ 1.3
Loss expected to be reclassified in the next 12 months	4.7
Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Derivative liabilities	7.6	$ 9
Interest Rate Swap
Derivatives, Fair Value [Line Items]
Aggregate notional amount	200
Decrease in notional amount over time	50
Interest Rate Swap | Designated as Hedging Instrument | Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	4.7	5.1
Interest Rate Swap | Designated as Hedging Instrument | Other non-current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities	$ 2.9	$ 3.9

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Customer deposits	$ 44.1	$ 33.8
Accrued employee compensation	21.8	25.8
Current portion of contingent consideration	11.1	1.2
Warranty	10.3	10.5
Other	40.7	42.2
Other current liabilities	$ 128	$ 113.5

INDEBTEDNESS - Schedule of Long

INDEBTEDNESS - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Long-term debt
Total long-term debt	$ 287	$ 313.2
Less: Current maturities of long-term debt	14.5	14.6
Less: Unamortized debt issuance costs	3.2	3.4
Long-term debt, net	269.3	295.2
Revolving credit facility | Revolving Credit Facility
Long-term debt
Total long-term debt	41	61
U.S. term loans
Long-term debt
Total long-term debt	193.3	196.2
Multi-currency term loans
Long-term debt
Total long-term debt	$ 52.7	$ 56

INDEBTEDNESS - Schedule of Cred

INDEBTEDNESS - Schedule of Credit Facility (Details) - Credit Agreement - Revolving Credit Facility - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Line of Credit Facility [Line Items]
Commitments	$ 400,000,000	$ 400,000,000
Outstanding borrowings	41,000,000	61,000,000
Letters of credit outstanding	5,100,000	5,100,000
Borrowing capacity	$ 353,900,000	$ 333,900,000

INDEBTEDNESS - Narrative (Detai

INDEBTEDNESS - Narrative (Details) € in Millions, $ in Millions	3 Months Ended			12 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2021EUR (€)	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Long-term debt
Borrowings under line of credit	$ 92		$ 219.5
Commitment fee percentage	0.225%	0.225%		0.225%
Credit Agreement | Credit Facility | Base rate
Long-term debt
Borrowings under line of credit				$ 61
Basis spread on variable rate				1.65%
Credit Agreement | Credit Facility | LIBOR
Long-term debt
Borrowings under line of credit	$ 41
Basis spread on variable rate	1.61%	1.61%
Credit Agreement | Letter of Credit
Long-term debt
Interest rate	1.50%	1.50%		1.50%
Amended Credit Agreement | Term loan
Long-term debt
Interest rate	1.61%	1.61%		1.65%
Quarterly fixed payments	$ 2.8
Amended Credit Agreement | Multi-currency term loans
Long-term debt
Interest rate	1.50%	1.50%		1.50%
Quarterly fixed payments | €		€ 0.7

CONTINGENT LIABILITIES AND CO_3

CONTINGENT LIABILITIES AND COMMITMENTS (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Changes in warranty accrual
Balance, December 31, 2020	$ 10.5
Provision for warranty claims	0.8
Warranty claims settled	(1)
Balance, March 31, 2021	10.3
Warranty expense	$ 0.8	$ 2

RESTRUCTURING AND OTHER COST _3

RESTRUCTURING AND OTHER COST REDUCTION INITIATIVES (Details) $ in Millions	3 Months Ended		9 Months Ended
	Mar. 31, 2021USD ($)position	Mar. 31, 2020USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020showroom
Restructuring charges
asset impairment charges	$ 0.9
Number of positions expected to be eliminated | position	50
Restructuring cost expected	$ 2.8
Cash payments	1.8
Restructuring charges	3.6	$ 8.2
Forecast
Restructuring charges
Cash payments			$ 5.8
Workplace
Restructuring charges
Restructuring charges	2.2	7.9
Lifestyle
Restructuring charges
Restructuring charges	0.2	$ 0.3
Corporate Segment
Restructuring charges
Restructuring charges	$ 1.2
Facility Closing
Restructuring charges
Number of showrooms closed | showroom				5

RESTRUCTURING AND OTHER COST _4

RESTRUCTURING AND OTHER COST REDUCTION INITIATIVES - Restructuring Reserve (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2021	Dec. 31, 2021
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2020	$ 2.1	$ 3
Provisions and accruals	2.7
Cash payments	(1.8)
Balance as of March 31, 2021	2.1	3
North America Operations Optimization
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2020	0.1	0.3
Provisions and accruals	0.8
Cash payments	(0.6)
Balance as of March 31, 2021	0.1	0.3
Workforce Reduction and Other Cost Initiatives
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2020	2	2.7
Provisions and accruals	1.9
Cash payments	(1.2)
Balance as of March 31, 2021	$ 2	$ 2.7

EQUITY - Schedule of Change in

EQUITY - Schedule of Change in Equity (Details) - USD ($) $ / shares in Units, $ in Millions	Feb. 12, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance			$ 427.6	$ 427.6
Net earnings (loss)		$ (1.9)	10.9
Other comprehensive loss		$ (4.3)	(23.9)
Stock-based compensation, net			1.6
Dividends declared common stock			(8.5)
Purchase of common stock			(4)
Ending balance			$ 403.7
Dividends declared (in dollars per share)		$ 0.06	$ 0.17
Purchase of common stock, shares (in shares)		277,043	154,012
MBRSUs, reduced number of shares earned, percentage	50.00%
Plan modification, incremental cost		$ 0.7
Restricted Stock Units (RSUs)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Award performance period	2 years			3 years
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		0.5	$ 0.5	$ 0.5
Ending balance		0.5	0.5	0.5
Additional Paid-In Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		75.4	66.8	66.8
Stock-based compensation, net		4.2	1.6
Dividends declared on preferred stock		0
Purchase of common stock		(4.4)	(4)
Ending balance		75.2	64.4	75.4
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		417.7	429.7	429.7
Net earnings (loss)		(1.9)	10.9
Dividends declared on preferred stock		(1.8)
Dividends declared common stock		(3.1)	(8.5)
Ending balance		410.9	432.1	417.7
Accumulated Other Comprehensive Loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		(45.8)	(69.4)	(69.4)
Other comprehensive loss		(4.3)	(23.9)
Ending balance		(50.1)	$ (93.3)	(45.8)
Total Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		447.8
Net earnings (loss)		(1.9)
Other comprehensive loss		(4.3)
Stock-based compensation, net		4.2
Dividends declared on preferred stock		(1.8)
Dividends declared common stock		(3.1)
Purchase of common stock		(4.4)
Ending balance		$ 436.5		$ 447.8

EQUITY - Schedule of Change i_2

EQUITY - Schedule of Change in Number of Shares of Common Stock Outstanding (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares outstanding, beginning of period (in shares)	50,645,000	49,775,000
Shares issued under stock incentive plans, net of awards surrendered to pay applicable taxes (in shares)	168,000	874,000
Shares outstanding, end of period (in shares)	50,813,000	50,649,000

PREFERRED STOCK - Roll-forward

PREFERRED STOCK - Roll-forward of the Company's preferred stock (Details) shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)shares
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance, share (in shares) | shares	169,165
Ending balance, shares (in shares) | shares	169,165
Series A Convertible Preferred Stock
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	$ 165.1
Dividends declared and paid in kind	1.8
Ending balance	$ 166.9
Preferred Stock | Series A Convertible Preferred Stock
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance, share (in shares) | shares	167
Dividends declared and paid in kind (in shares) | shares	2
Ending balance, shares (in shares) | shares	169
Par Value | Series A Convertible Preferred Stock
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	$ 0.2
Dividends declared and paid in kind	0
Ending balance	0.2
Additional Paid-In Capital
Increase (Decrease) in Temporary Equity [Roll Forward]
Dividends declared and paid in kind	0
Additional Paid-In Capital | Series A Convertible Preferred Stock
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance	164.9
Dividends declared and paid in kind	1.8
Ending balance	$ 166.7

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Summary of Changes by Component (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications	$ (4.7)
Amounts reclassified from AOCL	3.2
Net current period other comprehensive income (loss) before income tax	(1.5)
Income tax expense	(2.8)
Other comprehensive income (loss)	(4.3)
Unrealized gains (losses) on Interest Rate Swaps
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(6.7)
Other comprehensive income (loss) before reclassifications	0.1
Amounts reclassified from AOCL	1.3
Net current period other comprehensive income (loss) before income tax	1.4
Income tax expense	(0.3)
Other comprehensive income (loss)	1.1
Ending balance	(5.6)
Foreign Currency Translation Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(7.9)
Other comprehensive income (loss) before reclassifications	(3.8)
Amounts reclassified from AOCL	0
Net current period other comprehensive income (loss) before income tax	(3.8)
Income tax expense	0
Other comprehensive income (loss)	(3.8)
Ending balance	(11.7)
Foreign Currency Translation Adjustment on Long-term Intercompany Notes
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	5
Other comprehensive income (loss) before reclassifications	(8.8)
Amounts reclassified from AOCL	0
Net current period other comprehensive income (loss) before income tax	(8.8)
Income tax expense	0
Other comprehensive income (loss)	(8.8)
Ending balance	(3.8)
Pension and Other Post-Employment Liability Adjustment
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(36.2)
Other comprehensive income (loss) before reclassifications	7.8
Amounts reclassified from AOCL	1.9
Net current period other comprehensive income (loss) before income tax	9.7
Income tax expense	(2.5)
Other comprehensive income (loss)	7.2
Ending balance	(29)
Total
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(45.8)
Ending balance	$ (50.1)

ACCUMULATED OTHER COMPREHENSI_4

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Reclassifications (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income, net	$ 0.6	$ 1.2
Pension settlement charges	1.6	0.7
Total before tax	1.7	(7)
Tax expense	0.2	(3.9)
Net earnings (loss)	1.9	(10.9)
Reclassification out of Accumulated Other Comprehensive Income | Accumulated Defined Benefit Plans Adjustment, Prior Service Credits
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income, net	(0.1)	0
Reclassification out of Accumulated Other Comprehensive Income | Accumulated Defined Benefit Plans Adjustment, Actuarial Losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Other income, net	(0.4)	(0.3)
Reclassification out of Accumulated Other Comprehensive Income | Accumulated Defined Benefit Plans Adjustment, Pension Settlement Charge
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Pension settlement charges	1.6	0.7
Reclassification out of Accumulated Other Comprehensive Income | Pension and Other Post-Employment Liability Adjustment
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total before tax	1.9	1
Tax expense	(0.4)	(0.2)
Net earnings (loss)	$ 1.5	$ 0.8

ACCUMULATED OTHER COMPREHENSI_5

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Summary of Unrealized Gains (Losses) on Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Reclassification Adjustment Out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Tax benefit	$ (0.2)	$ 3.9
Net of tax	1.1	(4.6)
Interest Rate Contract
Reclassification Adjustment Out of Accumulated Other Comprehensive Income on Derivatives [Line Items]
Unrealized gain (loss) on derivative instruments	0.1	(6.8)
Loss on derivatives reclassified into income	1.3	0.6
Total before tax	1.4	(6.2)
Tax benefit	(0.3)	1.6
Net of tax	$ 1.1	$ (4.6)

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net earnings (loss)	$ (1.9)	$ 10.9
Less: Preferred stock dividends	(1.9)	0
Net earnings (loss) attributable to common stockholders	(3.8)	10.9
Net Income (Loss) Available to Common Stockholders, Diluted	$ (3.8)	$ 10.9
Denominator: (shares in thousands)
Denominator for basic earnings per share - weighted-average shares (in shares)	49,264	48,973
Potentially dilutive shares resulting from stock plans (in shares)	0	735
Denominator for diluted earnings per share - weighted-average shares (in shares)	49,264	49,708
Net earnings (loss) per share:
Basic (in dollars per share)	$ (0.08)	$ 0.22
Diluted (in dollars per share)	$ (0.08)	$ 0.22
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive equity awards not included in weighted-average common shares—diluted (in shares)	10,600	100
Common Stock, Restricted Stock and Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive equity awards not included in weighted-average common shares—diluted (in shares)	600

INCOME TAXES (Details)

INCOME TAXES (Details)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	8.80%	54.60%

SEGMENT INFORMATION - Segment I

SEGMENT INFORMATION - Segment Information with Corporate Costs Excluded (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Financial information of segments
SALES	$ 264.2	$ 340
OPERATING PROFIT	2.3	11.4
Operating Segments
Financial information of segments
SALES	264.2	340
Corporate
Financial information of segments
OPERATING PROFIT	(6.9)	(6.1)
Workplace
Financial information of segments
SALES	150.4	227.5
Workplace | Operating Segments
Financial information of segments
SALES	150.4	227.5
OPERATING PROFIT	(3.6)	9.3
Lifestyle
Financial information of segments
SALES	113.8	112.5
Lifestyle | Operating Segments
Financial information of segments
SALES	113.8	112.5
OPERATING PROFIT	$ 12.8	$ 8.2

SEGMENT INFORMATION - Schedule

SEGMENT INFORMATION - Schedule of Changes in Carrying Amount of Goodwill (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 349.8
Foreign currency translation adjustment	(8.7)
Balance at end of period	341.1
Workplace
Goodwill [Roll Forward]
Balance at beginning of period	100.7
Foreign currency translation adjustment	0.1
Balance at end of period	100.8
Lifestyle
Goodwill [Roll Forward]
Balance at beginning of period	249.1
Foreign currency translation adjustment	(8.8)
Balance at end of period	$ 240.3

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - Subsequent Event - Forecast $ / shares in Units, $ in Millions	3 Months Ended
	Sep. 30, 2021USD ($)$ / sharesRate
Herman Miller Inc.
Subsequent Event [Line Items]
Merger agreement, termination fee | $	$ 43
Herman Miller Inc.
Subsequent Event [Line Items]
Value of cash received upon conversion (in usd per share) | $ / shares	$ 11
Modification of share-based compensation awards of acquiree, performance measurement achievement, percentage	100.00%
Herman Miller Inc. | Common Stock
Subsequent Event [Line Items]
Number of shares received upon conversion of outstanding common stock (in shares) | Rate	32.00%
Herman Miller Inc. | Preferred Stock | Investindustrial VII L.P
Subsequent Event [Line Items]
Sale of stock, price per share (in usd per share) | $ / shares	$ 25.06
Cash consideration price | $	$ 253