Steelcase (SCS) 10-Q 22 Sep 23 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Aug. 25, 2023	Sep. 19, 2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Aug. 25, 2023
Document Transition Report	false
Entity File Number	1-13873
Entity Registrant Name	STEELCASE INC
Entity Incorporation, State or Country Code	MI
Entity Tax Identification Number	38-0819050
Entity Address, Address Line One	901 44th Street SE
Entity Address, City or Town	Grand Rapids,
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	49508
City Area Code	616
Local Phone Number	247-2710
Title of 12(b) Security	Class A Common Stock
Trading Symbol	SCS
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
Amendment Flag	false
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Entity Central Index Key	0001050825
Current Fiscal Year End Date	--02-23
Common Class A [Member]
Entity Common Stock, Shares Outstanding		93,647,319
Common Class B [Member]
Entity Common Stock, Shares Outstanding		20,414,413

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Operations - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 25, 2023	Aug. 26, 2022	Aug. 25, 2023	Aug. 26, 2022
Revenue	$ 854.6	$ 863.3	$ 1,606.5	$ 1,604
Cost of sales	569.8	612.5	1,085.7	1,160.7
Gross profit	283.4	250.8	518	442.4
Operating expenses	235.9	221.4	456.5	422.3
Operating income	41	28.9	48.3	16.3
Interest expense	(6.6)	(7.2)	(13.2)	(13.6)
Investment income	0.8	0.3	1.3	0.4
Other income, net	1.8	4.4	3.5	7.5
Income before income tax expense	37	26.4	39.9	10.6
Income tax expense	9.5	6.8	10.9	2.4
Net income	$ 27.5	$ 19.6	$ 29	$ 8.2
Earnings per share
Basic	$ 0.23	$ 0.17	$ 0.24	$ 0.07
Diluted	0.23	0.17	0.24	0.07
Dividends declared and paid per common share	$ 0.100	$ 0.145	$ 0.200	$ 0.290
Cost of Sales
Restructuring costs	$ 1.4	$ 0	$ 2.8	$ 0.9
Operating Expense
Restructuring costs	$ 6.5	$ 0.5	$ 13.2	$ 3.8

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 25, 2023	Aug. 26, 2022	Aug. 25, 2023	Aug. 26, 2022
Net income	$ 27.5	$ 19.6	$ 29	$ 8.2
Unrealized loss on investment	0	0.3	0	0
Pension and other post-retirement liability adjustments	(0.7)	0	(1.3)	0.2
Derivative amortization	0.3	0.2	0.5	0.5
Foreign currency translation adjustments	4.2	(21.3)	7.4	(39.9)
Total other comprehensive income (loss), net	3.8	(20.8)	6.6	(39.2)
Comprehensive income (loss)	$ 31.3	$ (1.2)	$ 35.6	$ (31)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Aug. 25, 2023	Feb. 24, 2023
Assets, Current [Abstract]
Cash and cash equivalents	$ 153.6	$ 90.4
Accounts receivable, net of allowance of $6.9 and $6.5	372.9	373.3
Inventories	271	319.7
Prepaid expenses	38.4	28.9
Assets held for sale	19.3	29
Other current assets	46	42.7
Total current assets	901.2	884
Property, plant and equipment, net of accumulated depreciation of $1,114.0 and $1,088.6	365.3	376.5
Company-owned life insurance ("COLI")	160.9	157.3
Deferred income taxes	118.9	117.3
Goodwill	277.3	276.8
Other intangible assets, net of accumulated amortization of $106.9 and $97.6	103.7	111.2
Investments in unconsolidated affiliates	54.6	51.1
Right-of-use operating lease assets	183.9	198.3
Other assets	32.8	30.3
Total assets	2,198.6	2,202.8
Liabilities, Current [Abstract]
Accounts payable	227	203.5
Short-term borrowings and current portion of long-term debt	5.2	35.7
Current operating lease obligations	47.3	44.7
Accrued expenses:
Employee compensation	116	120
Employee benefit plan obligations	28.2	31.2
Accrued promotions	18.6	26.7
Customer deposits	52.6	50.8
Other	95	90.7
Total current liabilities	589.9	603.3
Long-term liabilities:
Long-term debt less current maturities	445.9	445.5
Employee benefit plan obligations	97.2	103
Long-term operating lease obligations	153	169.9
Other long-term liabilities	59.5	54.9
Total long-term liabilities	755.6	773.3
Total liabilities	1,345.5	1,376.6
Shareholders' equity:
Additional paid-in capital	34.6	19.4
Accumulated Other Comprehensive Income (Loss), Net of Tax	(65.9)	(72.5)
Retained earnings	884.4	879.3
Total shareholders’ equity	853.1	826.2
Total liabilities and shareholders’ equity	$ 2,198.6	$ 2,202.8

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Aug. 25, 2023	Feb. 24, 2023
Statement of Financial Position [Abstract]
Accounts Receivable, after Allowance for Credit Loss, Current	$ 6.9	$ 6.5
Property, plant and equipment, accumulated depreciation	1,114	1,088.6
Other intangible assets, accumulated amortization	$ 106.9	$ 97.6

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Changes in Shareholders' Equity Statement - USD ($) $ in Millions		Total	Additional Paid-in Capital
Common shares outstanding, beginning of period at Feb. 25, 2022		112,109,294
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issuances		42,381
Common stock repurchases		(279,301)
Performance and restricted stock units issued as common stock		889,628
Common shares outstanding, end of period at Aug. 26, 2022		112,762,002
Additional paid-in capital, beginning of period at Feb. 25, 2022	[1]		$ 1.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issuances	[1]		0.5
Common stock repurchases	[1]		3.4
Performance and restricted stock units expense	[1]		15.1
Additional paid-in capital, end of period at Aug. 26, 2022	[1]		13.7
Accumulated other comprehensive income (loss), beginning of period at Feb. 25, 2022		$ (50.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)		(39.2)
Accumulated other comprehensive income (loss), end of period at Aug. 26, 2022		(89.8)
Retained earnings, beginning of period at Feb. 25, 2022		901.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		8.2
Dividends paid		(34)
Retained earnings, end of period at Aug. 26, 2022		$ 875.5
Common shares outstanding, beginning of period at May. 27, 2022		112,740,491
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issuances		21,209
Common stock repurchases		(198)
Performance and restricted stock units issued as common stock		500
Common shares outstanding, end of period at Aug. 26, 2022		112,762,002
Additional paid-in capital, beginning of period at May. 27, 2022	[1]		10.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issuances	[1]		0.3
Common stock repurchases	[1]		0
Performance and restricted stock units expense	[1]		3.1
Additional paid-in capital, end of period at Aug. 26, 2022	[1]		13.7
Accumulated other comprehensive income (loss), beginning of period at May. 27, 2022		$ (69)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)		(20.8)
Accumulated other comprehensive income (loss), end of period at Aug. 26, 2022		(89.8)
Retained earnings, beginning of period at May. 27, 2022		872.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		19.6
Dividends paid		(16.9)
Retained earnings, end of period at Aug. 26, 2022		875.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stockholders' Equity Attributable to Parent		799.4
Stockholders' Equity Attributable to Parent		$ 826.2
Common shares outstanding, beginning of period at Feb. 24, 2023		112,988,721
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issuances		75,781
Common stock repurchases		(429,990)
Performance and restricted stock units issued as common stock		1,368,546
Common shares outstanding, end of period at Aug. 25, 2023		114,003,058
Additional paid-in capital, beginning of period at Feb. 24, 2023		$ 19.4	19.4	[1]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issuances	[1]		0.6
Common stock repurchases	[1]		3.3
Performance and restricted stock units expense	[1]		17.9
Additional paid-in capital, end of period at Aug. 25, 2023		34.6	34.6	[1]
Accumulated other comprehensive income (loss), beginning of period at Feb. 24, 2023		(72.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)		6.6
Accumulated other comprehensive income (loss), end of period at Aug. 25, 2023		(65.9)
Retained earnings, beginning of period at Feb. 24, 2023		879.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		29
Dividends paid		(23.9)
Retained earnings, end of period at Aug. 25, 2023		$ 884.4
Common shares outstanding, beginning of period at May. 26, 2023		113,953,586
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issuances		38,531
Common stock repurchases		(366)
Performance and restricted stock units issued as common stock		11,307
Common shares outstanding, end of period at Aug. 25, 2023		114,003,058
Additional paid-in capital, beginning of period at May. 26, 2023	[1]		30.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock issuances	[1]		0.3
Common stock repurchases	[1]		0
Performance and restricted stock units expense	[1]		4.2
Additional paid-in capital, end of period at Aug. 25, 2023		$ 34.6	$ 34.6	[1]
Accumulated other comprehensive income (loss), beginning of period at May. 26, 2023		(69.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)		3.8
Accumulated other comprehensive income (loss), end of period at Aug. 25, 2023		(65.9)
Retained earnings, beginning of period at May. 26, 2023		868.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income		27.5
Dividends paid		(11.8)
Retained earnings, end of period at Aug. 25, 2023		884.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stockholders' Equity Attributable to Parent		$ 853.1
[1]Shares of our Class A and Class B common stock have no par value; thus, there are no balances for common stock.

Condensed Consolidated Statem_4

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions		6 Months Ended
		Aug. 25, 2023	Aug. 26, 2022
OPERATING ACTIVITIES
Net income		$ 29	$ 8.2
Depreciation and amortization		41.7	43.7
Share-based compensation		18.5	15.6
Restructuring costs		16	4.7
Other		(8.5)	(2.4)
Changes in operating assets and liabilities net of acquisitions:
Accounts receivable		2.7	(83.6)
Inventories		48.6	(67.4)
Income taxes receivable		(6.8)	22.2
Other assets		(3.3)	(21.2)
Accounts payable		22.5	33.5
Employee compensation liabilities		(17.9)	1.3
Employee benefit obligations		(10.9)	(18.6)
Customer deposits		1.8	(10.8)
Accrued expenses and other liabilities		(2.2)	0.4
Net cash provided by operating activities		131.2	(74.4)
INVESTING ACTIVITIES
Capital expenditures		(24.3)	(28.9)
Proceeds from disposal of fixed assets		15.7	5.6
Acquisitions, net of cash acquired		0	(105.4)
Other		(1.3)	13.4
Net cash used in investing activities		(9.9)	(115.3)
FINANCING ACTIVITIES
Dividends paid		(23.9)	(34)
Borrowings on global committed bank facility		69	266.8
Repayments on global committed bank facility		(69)	(187)
Repayments on note payable		(32.2)	0
Other		(1.6)	(2.5)
Net cash (used in) provided by financing activities		(57.7)	43.3
Effect of exchange rate changes on cash and cash equivalents		(0.2)	(2)
Net increase (decrease) in cash, cash equivalents and restricted cash		63.4	(148.4)
Cash and cash equivalents and restricted cash, beginning of period (1)	[1]	97.2	207
Cash and cash equivalents and restricted cash, end of period (2)	[2]	160.6	58.6
Restricted cash		$ 7	$ 6.4
[1]These amounts include restricted cash of $6.8 and $6.1 as of February 24, 2023 and February 25, 2022, respectively.[2]These amounts include restricted cash of $7.0 and $6.4 as of August 25, 2023 and August 26, 2022, respectively.

Basis Of Presentation

Basis Of Presentation	6 Months Ended
	Aug. 25, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions in Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals and adjustments) considered necessary for a fair presentation of the condensed consolidated financial statements have been included. Results for interim periods should not be considered indicative of results to be expected for a full year. Reference should be made to the consolidated financial statements and notes thereto contained in our Annual Report on Form 10-K for the fiscal year ended February 24, 2023 (“Form 10-K”). The Condensed Consolidated Balance Sheet as of February 24, 2023 was derived from the audited Consolidated Balance Sheet included in our Form 10-K. As used in this Quarterly Report on Form 10-Q (“Report”), unless otherwise expressly stated or the context otherwise requires, all references to “Steelcase,” “we,” “our,” “Company” and similar references are to Steelcase Inc. and its subsidiaries in which a controlling interest is maintained. Unless the context otherwise indicates, reference to a year relates to the fiscal year, ended in February of the year indicated, rather than a calendar year. Additionally, Q1, Q2, Q3 and Q4 reference the first, second, third and fourth quarter, respectively, of the fiscal year indicated. All amounts are in millions, except share and per share data, data presented as a percentage or as otherwise indicated.

Accounting Policies

Accounting Policies	6 Months Ended
	Aug. 25, 2023
Accounting Policies [Abstract]
New Accounting Standards	NEW ACCOUNTING STANDARDS We evaluate all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board ("FASB") for consideration of their applicability to our consolidated financial statements. We have assessed all ASUs issued but not yet adopted and concluded that those not disclosed are either not applicable to us or are not expected to have a material effect on our consolidated financial statements. Adoption of New Accounting Standards Effective Q1 2024, we adopted ASU No. 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50) , which is intended to enhance transparency of supplier finance programs by requiring disclosure of key terms, amounts outstanding (including a rollforward of outstanding amounts) and a description of where such amounts are presented in the consolidated financial statements. We participate in a supplier finance program in Spain offered by a third-party financial institution. The program allows participating suppliers the ability to finance our payment obligations prior to their scheduled due dates at a discounted price set by the financial institution. We have extended payment terms with suppliers that have voluntarily chosen to participate in the program. As of August 25, 2023, the outstanding amount of program obligations, reported in Accounts payable on the Condensed Consolidated Balance Sheets, was $0.9. The amount settled through the program during the six months ended August 25, 2023 was $4.4.

Revenue (Notes)

Revenue (Notes)	6 Months Ended
	Aug. 25, 2023
Revenue [Abstract]
Revenue from Contract with Customer [Text Block]	REVENUE Disaggregation of Revenue The following table provides information about disaggregated revenue by product category for each of our reportable segments: Product Category Data Three Months Ended Six Months Ended August 25, August 26, August 25, August 26, Americas Desking, benching, systems and storage $ 286.7 $ 303.4 $ 536.9 $ 563.7 Seating 187.2 203.3 340.0 359.5 Other (1) 205.4 170.3 375.2 297.6 International Desking, benching, systems and storage 62.6 63.5 124.2 130.9 Seating 61.4 68.0 123.4 138.7 Other (1) 51.3 54.8 106.8 113.6 $ 854.6 $ 863.3 $ 1,606.5 $ 1,604.0 _______________________________________ (1) The other product category data by segment consists primarily of products sold by consolidated dealers, textiles and surface materials, worktools, architecture and other uncategorized product lines and services, less promotions and incentives on all product categories. Reportable geographic information is as follows: Reportable Geographic Revenue Three Months Ended Six Months Ended August 25, August 26, August 25, August 26, United States $ 641.3 $ 634.6 $ 1,174.0 $ 1,136.3 Foreign locations 213.3 228.7 432.5 467.7 $ 854.6 $ 863.3 $ 1,606.5 $ 1,604.0 Contract Balances At times, we receive payments from customers before revenue is recognized, resulting in the recognition of a contract liability ( Customer deposits ) presented on the Condensed Consolidated Balance Sheets. Changes in the Customer deposits balance for the six months ended August 25, 2023 are as follows: Customer Deposits Balance as of February 24, 2023 $ 50.8 Recognition of revenue related to beginning of year customer deposits (42.2) Customer deposits received, net of revenue recognized during the period 44.0 Balance as of August 25, 2023 $ 52.6

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Aug. 25, 2023
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE Earnings per share is computed using the two-class method. The two-class method determines earnings per share for each class of common stock and participating securities according to dividends or dividend equivalents and their respective participation rights in undistributed earnings. Participating securities represent restricted stock units in which the participants have non-forfeitable rights to dividend equivalents during the performance period. Diluted earnings per share includes the effects of certain performance units in which the participants have forfeitable rights to dividend equivalents during the performance period. Computation of Three Months Ended August 25, 2023 Three Months Ended August 26, 2022 Net Income Basic Shares Diluted Shares Net Income Basic Shares Diluted Shares Amounts used in calculating earnings per share $ 27.5 118.8 119.1 $ 19.6 117.2 117.7 Impact of participating securities (1.1) (4.8) (4.8) (0.7) (4.4) (4.4) Amounts used in calculating earnings per share, excluding participating securities $ 26.4 114.0 114.3 $ 18.9 112.8 113.3 Earnings per share $ 0.23 $ 0.23 $ 0.17 $ 0.17 Computation of Six Months Ended August 25, 2023 Six Months Ended August 26, 2022 Net Income Basic Shares Diluted Shares Net Income Basic Shares Diluted Shares Amounts used in calculating earnings per share $ 29.0 118.4 118.6 $ 8.2 117.0 117.5 Impact of participating securities (1.1) (4.4) (4.4) (0.3) (4.2) (4.2) Amounts used in calculating earnings per share, excluding participating securities $ 27.9 114.0 114.2 $ 7.9 112.8 113.3 Earnings per share $ 0.24 $ 0.24 $ 0.07 $ 0.07 There were no anti-dilutive performance units excluded from the computation of diluted earnings per share for the three and six months ended August 25, 2023 and August 26, 2022.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Aug. 25, 2023
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the three months ended August 25, 2023: Unrealized gain (loss) on investment Pension and other post-retirement liability adjustments Derivative amortization Foreign currency translation adjustments Total Balance as of May 26, 2023 $ (0.1) $ 8.7 $ (5.5) $ (72.8) $ (69.7) Other comprehensive income (loss) before reclassifications — (0.3) — 4.2 3.9 Amounts reclassified from accumulated other comprehensive income (loss) — (0.4) 0.3 — (0.1) Net other comprehensive income (loss) during the period — (0.7) 0.3 4.2 3.8 Balance as of August 25, 2023 $ (0.1) $ 8.0 $ (5.2) $ (68.6) $ (65.9) The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the six months ended August 25, 2023: Unrealized gain (loss) on investment Pension and other post-retirement liability adjustments Derivative amortization Foreign currency translation adjustments Total Balance as of February 24, 2023 $ (0.1) $ 9.3 $ (5.7) $ (76.0) $ (72.5) Other comprehensive income (loss) before reclassifications — (0.4) — 7.4 7.0 Amounts reclassified from accumulated other comprehensive income (loss) — (0.9) 0.5 — (0.4) Net other comprehensive income (loss) during the period — (1.3) 0.5 7.4 6.6 Balance as of August 25, 2023 $ (0.1) $ 8.0 $ (5.2) $ (68.6) $ (65.9) The following table provides details about reclassifications out of accumulated other comprehensive income (loss) for the three and six months ended August 25, 2023 and August 26, 2022: Detail of Accumulated Other Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line in the Condensed Consolidated Statements of Income Three Months Ended Six Months Ended August 25, August 26, August 25, August 26, Amortization of pension and other post-retirement actuarial gains $ (0.6) $ (0.4) $ (1.2) $ (0.8) Other income, net Income tax expense 0.2 0.1 0.3 0.2 Income tax expense (0.4) (0.3) (0.9) (0.6) Derivative amortization 0.4 0.3 0.7 0.7 Interest expense Income tax benefit (0.1) (0.1) (0.2) (0.2) Income tax expense 0.3 0.2 0.5 0.5 Total reclassifications $ (0.1) $ (0.1) $ (0.4) $ (0.1)

Fair Value

Fair Value	6 Months Ended
	Aug. 25, 2023
Fair Value Disclosures [Abstract]
Fair Value	FAIR VALUE The carrying amounts for many of our financial instruments, including cash and cash equivalents, accounts and notes receivable, accounts payable, short-term borrowings and certain other liabilities, approximate their fair value due to their relatively short maturities. Our foreign exchange forward contracts, long-term investments and contingent consideration are measured at fair value on the Condensed Consolidated Balance Sheets. Our total debt is carried at cost and was $451.1 and $481.2 as of August 25, 2023 and February 24, 2023, respectively. The fair value of our total debt is measured using a discounted cash flow analysis based on current market interest rates for similar types of instruments and was $393.0 and $405.9 as of August 25, 2023 and February 24, 2023, respectively. The estimation of the fair value of our total debt is based on Level 2 fair value measurements. We may use derivative financial instruments to manage exposures to movements in foreign exchange rates and interest rates. The use of these financial instruments modifies the exposure of these risks with the intention to reduce our risk of volatility. We do not use derivatives for speculative or trading purposes. In connection with the acquisition of Viccarbe Habitat, S.L in Q3 2022, up to an additional $14.1 (or €13.0) is payable to the sellers based upon the achievement of certain revenue and operating income targets over a three-year period ending in 2025. This amount was considered to be contingent consideration and was treated for accounting purposes as part of the total purchase price of the acquisition. We used the Monte Carlo simulation model to calculate the fair value of the contingent consideration as of the acquisition date, which represents a Level 3 measurement. At each subsequent reporting date, changes in the fair value of the liability are recorded to Operating expenses until the liability is settled. Assets and liabilities measured at fair value within our Condensed Consolidated Balance Sheets as of August 25, 2023 and February 24, 2023 are summarized below: August 25, 2023 Fair Value of Financial Instruments Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 153.6 $ — $ — $ 153.6 Restricted cash 7.0 — — 7.0 Foreign exchange forward contracts — 2.1 — 2.1 Auction rate security — — 2.1 2.1 $ 160.6 $ 2.1 $ 2.1 $ 164.8 Liabilities: Foreign exchange forward contracts $ — $ (0.5) $ — $ (0.5) Contingent consideration — — (9.8) (9.8) $ — $ (0.5) $ (9.8) $ (10.3) February 24, 2023 Fair Value of Financial Instruments Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 90.4 $ — $ — $ 90.4 Restricted cash 6.8 — — 6.8 Foreign exchange forward contracts — 2.3 — 2.3 Auction rate security — — 2.1 2.1 $ 97.2 $ 2.3 $ 2.1 $ 101.6 Liabilities: Foreign exchange forward contracts $ — $ (0.3) $ — $ (0.3) Contingent consideration — — (9.5) (9.5) $ — $ (0.3) $ (9.5) $ (9.8)

Inventories

Inventories	6 Months Ended
	Aug. 25, 2023
Inventories [Abstract]
Inventories	INVENTORIES Inventories August 25, February 24, Raw materials and work-in-process $ 189.7 $ 232.8 Finished goods 111.6 118.1 301.3 350.9 Revaluation to LIFO 30.3 31.2 $ 271.0 $ 319.7 The portion of inventories determined by the LIFO method aggregated to $125.9 and $134.1 as of August 25, 2023 and February 24, 2023, respectively.

Debt

Debt	6 Months Ended
	Aug. 25, 2023
Debt Disclosure [Abstract]
Short-term Debt [Text Block]	SHORT-TERM BORROWINGS We have a $250.0 global committed bank facility, which expires in 2025. At our option, and subject to certain conditions, we may increase the aggregate commitment under the facility by up to $125.0 by obtaining at least one commitment from one or more lenders. In Q1 2024, the credit facility was amended. As amended, interest on borrowings under the facility is based on the rate selected by us from the following options (with all capitalized terms having the meanings provided in the credit agreement, as amended): • the Applicable Floating Rate Margin in effect plus the greatest of (i) the Prime Rate, (ii) the Federal Funds Effective Rate plus 0.5%, (iii) the Term SOFR Reference Rate for a one-month interest period plus 1.10% or (iv) 0.75%; • the Applicable Term Benchmark/RFR Margin in effect plus (i) for borrowings in U.S. dollars, the Term SOFR Reference Rate plus 0.10%, or (ii) for borrowings in euros, the Adjusted EURIBOR Rate; or • the Applicable Term Benchmark/RFR Margin in effect plus the Daily Simple SOFR Rate plus 0.10%.

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Aug. 25, 2023
Share-Based Payment Arrangement [Abstract]
Share-based Payment Arrangement	. SHARE-BASED COMPENSATION Performance Units We have issued performance units (“PSUs”) to certain employees which are earned over a three-year performance period based on performance conditions established annually by the Compensation Committee within the first three months of the applicable fiscal year. The PSUs are then modified based on achievement of certain total shareholder return results relative to a comparison group of companies, which is a market condition. When the performance conditions for a fiscal year are established, or if the performance conditions involve a qualitative assessment and such assessment has been made, one-third of the PSUs issued are considered granted. Therefore, each of the three fiscal years within the performance period is considered an individual tranche of the award (referred to as "Tranche 1," "Tranche 2" and "Tranche 3," respectively). As of August 25, 2023, the following PSUs have been issued and remained outstanding: • 767,600 PSUs to be earned over the period of 2024 through 2026 (the "2024 PSUs"), • 428,700 PSUs to be earned over the period of 2023 through 2025 (the "2023 PSUs") and • 448,300 PSUs to be earned over the period of 2022 through 2024 (the "2022 PSUs"). Once granted, the PSUs are expensed and recorded in Additional paid-in capital on the Condensed Consolidated Balance Sheets over the remaining performance period. For participants who are or become retirement-eligible during the performance period, the PSUs are expensed over the period ending on the date the participant becomes retirement-eligible. The awards will be forfeited if a participant leaves the company for reasons other than retirement, disability or death or if the participant engages in any competition with us, as defined in the Incentive Compensation Plan. As of August 25, 2023, the 2024 PSUs, 2023 PSUs and 2022 PSUs were considered granted as follows: • In Q1 2024, the performance conditions were established for Tranche 1 of the 2024 PSUs, Tranche 2 of the 2023 PSUs and Tranche 3 of the 2022 PSUs, and accordingly, such tranches were considered granted in Q1 2024. • In Q1 2023, the performance conditions were established for Tranche 1 of the 2023 PSUs and Tranche 2 of the 2022 PSUs, and accordingly, such tranches were considered granted in Q1 2023. • In Q1 2022, the performance conditions were established for Tranche 1 of the 2022 PSUs, and accordingly, such tranche was considered granted in Q1 2022. We used the Monte Carlo simulation model to calculate the fair value of the market conditions on the respective grant dates, which resulted in a total fair value of $4.5, $3.5 and $2.3 for the PSUs with market conditions granted in 2024, 2023 and 2022, respectively, that remained outstanding as of August 25, 2023. The Monte Carlo simulation was computed using the following assumptions: 2024 PSUs 2023 PSUs 2022 PSUs Tranche 1 Tranche 2 Tranche 1 Tranche 3 Tranche 2 Tranche 1 Risk-free interest rate (1) 3.7 % 4.0 % 2.6 % 4.7 % 2.3 % 0.3 % Expected term 3 years 2 years 3 years 1 year 2 years 3 years Estimated volatility (2) 44.1 % 37.8 % 52.2 % 45.5 % 43.8 % 53.5 % _______________________________________ (1) Based on the U.S. Government bond benchmark on the grant date. (2) Represents the historical price volatility of our Class A Common Stock for the period prior to the grant date which is equivalent to the expected term of the tranche. The total PSU expense (credit) and associated tax benefit recorded during the three and six months ended August 25, 2023 and August 26, 2022 are as follows: Three Months Ended Six Months Ended Performance Units August 25, August 26, August 25, August 26, Expense (credit) $ 0.8 $ (0.2) $ 6.2 $ 3.9 Tax benefit 0.1 — 1.5 1.0 The PSU activity for the six months ended August 25, 2023 is as follows: Maximum Number of Shares of Nonvested Units Total Weighted-Average Nonvested as of February 24, 2023 1,060,231 $ 13.11 Granted 1,315,664 8.30 Nonvested as of August 25, 2023 2,375,895 $ 10.44 As of August 25, 2023, there was $3.3 of remaining unrecognized compensation expense related to nonvested PSUs, which is expected to be recognized over a remaining weighted-average period of 1.9 years. Restricted Stock Units During the six months ended August 25, 2023, we awarded 1,564,505 restricted stock units ("RSUs") to certain employees. RSUs have restrictions on transfer which lapse up to three years after the date of grant, at which time the RSUs are issued as unrestricted shares of Class A Common Stock. RSUs are expensed and recorded in Additional paid-in capital on the Condensed Consolidated Balance Sheets over the requisite service period based on the value of the shares on the grant date. For participants who are or become retirement-eligible during the service period, the RSUs are expensed over the period ending on the date that the participant becomes retirement-eligible. Typically, these awards will be forfeited if a participant leaves the company for reasons other than retirement, disability or death or if the participant engages in any competition with us, as defined in the Incentive Compensation Plan. The total RSU expense and associated tax benefit for the six months ended August 25, 2023 and August 26, 2022 are as follows: Three Months Ended Six Months Ended Restricted Stock Units August 25, August 26, August 25, August 26, Expense $ 3.4 $ 3.3 $ 11.7 $ 11.2 Tax benefit 0.8 0.8 2.9 2.8 The RSU activity for the six months ended August 25, 2023 is as follows: Nonvested Units Total Weighted-Average Nonvested as of February 24, 2023 3,293,268 $ 12.11 Granted 1,564,505 7.89 Vested (23,784) 10.61 Forfeited (39,519) 10.46 Nonvested as of August 25, 2023 4,794,470 $ 10.75 As of August 25, 2023, there was $13.5 of remaining unrecognized compensation expense related to nonvested RSUs, which is expected to be recognized over a remaining weighted-average period of 1.6 years.

Leases, Codification Topic 842

Leases, Codification Topic 842	6 Months Ended
	Aug. 25, 2023
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 2035. 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 during the three and six months ended August 25, 2023 and August 26, 2022 are as follows: Three Months Ended Six Months Ended August 25, August 26, August 25, August 26, Operating lease cost $ 13.6 $ 13.5 $ 27.2 $ 25.6 Sublease rental income (0.5) (0.5) (1.0) (1.1) $ 13.1 $ 13.0 $ 26.2 $ 24.5 Supplemental cash flow and other information related to leases during the three and six months ended August 25, 2023 and August 26, 2022 is as follows: Three Months Ended Six Months Ended August 25, August 26, August 25, August 26, Cash flow information: Operating cash flows used for operating leases $ 13.6 $ 13.6 $ 27.7 $ 27.1 Leased assets obtained in exchange for new operating lease obligations 2.6 10.3 7.6 13.5 As of August 25, 2023 and February 24, 2023, the weighted-average remaining lease terms were 5.0 years and 5.3 years, respectively, and the weighted-average discount rates were 4.3% and 4.2%, respectively. The following table summarizes the future minimum lease payments as of August 25, 2023: Fiscal year ending in February Amount (1) 2024 $ 27.0 2025 53.9 2026 43.0 2027 34.3 2028 25.4 Thereafter 39.9 Total lease payments $ 223.5 Less: Interest 23.2 Present value of lease liabilities $ 200.3 _______________________________________ (1) Lease payments include

Business Combinations

Business Combinations	6 Months Ended
	Aug. 25, 2023
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS HALCON In Q2 2023, we acquired Halcon Furniture LLC ("HALCON"), a Minnesota-based designer and manufacturer of precision-tailored wood furniture for the workplace. The transaction included the purchase of all the outstanding membership interests of HALCON for $127.5 less customer deposits of $24.3, plus an adjustment of $1.9 for working capital. The acquisition was funded using a combination of cash on-hand and borrowings under our global committed bank facility. An additional $2.0 is payable to a seller based upon continued employment over a three-year period, which is being expensed over the service period on a straight-line basis. Tangible assets and liabilities of HALCON were valued as of the acquisition date using a market analysis, and intangible assets were valued using a discounted cash flow analysis, which represents a Level 3 measurement. On the acquisition date, we recorded $51.8 related to identifiable intangible assets, $36.6 related to goodwill and $16.7 related to tangible assets. The tangible assets mainly consisted of property, plant and equipment of $30.6, working capital (primarily inventory of $12.8) and customer deposits of $24.3. The goodwill was recorded in the Americas segment and is deductible for U.S. income tax purposes. The goodwill resulting from the acquisition is primarily related to the growth potential of HALCON expected to be driven by new product development, geographic expansion and the integration of HALCON products into our dealer network. Intangible assets are principally related to dealer relationships, the HALCON trade name and internally developed know-how and designs, which are being amortized over periods ranging from 9 to 10 years from the date of acquisition. We also acquired a backlog of orders which shipped throughout 2023. The purchase accounting for the HALCON acquisition was completed during the current year. The following table summarizes the purchased identified intangible assets and the respective fair value and useful life of each asset at the date of acquisition: Other Intangible Assets Useful Life Fair Value Dealer relationships 10.0 $ 21.5 Trademark 9.0 14.0 Know-how and designs 9.0 12.0 Backlog 0.7 4.3 $ 51.8 The fair values of the purchased intangible assets are being amortized on a straight-line basis over their useful lives. The following table summarizes the estimated future amortization expense for the next five years as of August 25, 2023: Fiscal Year Ending in February Amount 2024 $ 2.5 2025 5.1 2026 5.0 2027 5.0 2028 5.0 $ 22.6

Reportable Segments

Reportable Segments	6 Months Ended
	Aug. 25, 2023
Reportable Segments [Abstract]
Reportable Segments	REPORTABLE SEGMENTS As of the end of Q1 2024, we realigned our reportable segments for financial reporting purposes as a result of changes in how we monitor business performance and allocate resources to support our top strategic priorities. During Q1 2024, we simplified our internal reporting to summarize the results of all brands by geography including utilization of previously unallocated Corporate expenses. This change is parallel to the organizational structure that is used by our Chief Executive Officer in the capacity as chief operating decision maker ("CODM") for making operating and investment decisions and assessing business performance. The operating segments regularly reviewed by the CODM are (1) the Americas, (2) Europe, the Middle East and Africa ("EMEA") and (3) Asia Pacific. Asia Pacific serves customers in Australia, China, India, Japan, Korea and other countries in Southeast Asia. We primarily review and evaluate revenue, gross profit and operating income (loss) by these segments in our internal review processes and reporting. We also allocate resources among these segments primarily based on revenue, gross profit and operating income (loss). Total assets by segment include manufacturing and other assets associated with each segment. For purposes of segment reporting externally, we have aggregated the EMEA and Asia Pacific operating segments as an International segment based upon their similarity in certain quantitative and qualitative characteristics as defined in the Accounting Standards Codification ("ASC") 280, Segment Reporting. We evaluated the economic similarity of these operating segments including patterns and trends for revenue, gross profit and operating income (loss) in addition to the similarity in the nature of products and services, types of customers, and production and distribution processes in these regions. We concluded that these operating segments met the criteria for aggregation consistent with the basic principles and objectives of segment reporting described in ASC 280. The change in our reportable segments did not result in a change to our reporting units for purposes of goodwill impairment testing. The Americas segment serves customers in the U.S., Canada, the Caribbean Islands and Latin America with a comprehensive portfolio of furniture, architectural, textile and surface imaging products that are marketed to corporate, government, healthcare, education and retail customers primarily through the Steelcase, AMQ, Coalesse, Designtex, HALCON, Orangebox, Smith System and Viccarbe brands. The International segment serves customers in EMEA and Asia Pacific with a comprehensive portfolio of furniture and architectural products that are marketed to corporate, government, education and retail customers primarily through the Steelcase, Coalesse, Orangebox, Smith System and Viccarbe brands. As required by ASC 280 , all presented segment data reflects the reclassification of previously reported segment data. Revenue, gross profit and operating income (loss) for the three and six months ended August 25, 2023 and August 26, 2022 and total assets and goodwill as of August 25, 2023 and February 24, 2023 by segment are presented in the following tables which reflect the realigned segments: Three Months Ended Six Months Ended Reportable Segment Statement of Income Data August 25, August 26, August 25, August 26, Revenue Americas $ 679.3 $ 677.0 $ 1,252.1 $ 1,220.8 International 175.3 186.3 354.4 383.2 $ 854.6 $ 863.3 $ 1,606.5 $ 1,604.0 Gross Profit Americas $ 235.9 $ 205.9 $ 419.5 $ 345.0 International 47.5 44.9 98.5 97.4 $ 283.4 $ 250.8 $ 518.0 $ 442.4 Operating Income (Loss) Americas $ 60.0 $ 37.6 $ 79.8 $ 26.9 International (19.0) (8.7) (31.5) (10.6) $ 41.0 $ 28.9 $ 48.3 $ 16.3 Reportable Segment Balance Sheet Data August 25, February 24, Total assets Americas $ 1,647.5 $ 1,631.2 International 551.1 571.6 $ 2,198.6 $ 2,202.8 Goodwill Americas $ 268.6 $ 268.3 International 8.7 8.5 $ 277.3 $ 276.8

Restructuring and Related Activ

Restructuring and Related Activities	6 Months Ended
	Aug. 25, 2023
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure	RESTRUCTURING ACTIVITIES In Q4 2023, we implemented a series of restructuring actions, primarily related to the wind down of our customer aviation function in connection with our strategy to reinvent our go-to-market model and create new customer experiences. The restructuring actions included terminations of approximately 25 salaried employees in the Americas segment. We expect to incur approximately $4.4 of restructuring costs in the Americas segment related to these actions, consisting of cash severance payments and other separation-related benefits. We incurred $0.1 and $0.7 of restructuring costs in the Americas segment for these actions in Q2 2024 and Q1 2024, respectively. We also incurred $3.6 of workforce reductions and other separation-related benefits in the Americas segment for these actions in Q4 2023. We expect these actions to be completed by the end of 2024. In Q1 2024, we announced a series of restructuring actions in response to continued decline in order volume, persisting inflationary pressures, and decreasing plant utilization. These actions involve the involuntary terminations of approximately 40 to 50 salaried roles in EMEA, the elimination of approximately 240 positions in Asia Pacific, and the involuntary terminations of approximately 30 employees in the Americas in connection with the closing of our regional distribution center in Atlanta, Georgia. We expect to incur restructuring costs of approximately $16 to $18 in the International segment and approximately $1 in the Americas segment related to these actions, consisting of cash severance payments and other separation-related benefits. We incurred restructuring costs of $7.8 in the International segment for these actions during Q2 2024. We incurred restructuring costs of $6.8 in the International segment and $0.6 in the Americas segment for these actions during Q1 2024. We expect these actions to be substantially completed by the end of 2024. The following table details the changes in the restructuring reserve balance for the six months ended August 25, 2023: Workforce Reductions Balance as of February 24, 2023 $ 4.0 Restructuring costs 16.0 Payments (6.6) Balance as of August 25, 2023 $ 13.4

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Aug. 25, 2023
Revenue [Abstract]
Disaggregation of Revenue [Table Text Block]	Disaggregation of Revenue The following table provides information about disaggregated revenue by product category for each of our reportable segments: Product Category Data Three Months Ended Six Months Ended August 25, August 26, August 25, August 26, Americas Desking, benching, systems and storage $ 286.7 $ 303.4 $ 536.9 $ 563.7 Seating 187.2 203.3 340.0 359.5 Other (1) 205.4 170.3 375.2 297.6 International Desking, benching, systems and storage 62.6 63.5 124.2 130.9 Seating 61.4 68.0 123.4 138.7 Other (1) 51.3 54.8 106.8 113.6 $ 854.6 $ 863.3 $ 1,606.5 $ 1,604.0 _______________________________________ (1) The other product category data by segment consists primarily of products sold by consolidated dealers, textiles and surface materials, worktools, architecture and other uncategorized product lines and services, less promotions and incentives on all product categories. Reportable geographic information is as follows: Reportable Geographic Revenue Three Months Ended Six Months Ended August 25, August 26, August 25, August 26, United States $ 641.3 $ 634.6 $ 1,174.0 $ 1,136.3 Foreign locations 213.3 228.7 432.5 467.7 $ 854.6 $ 863.3 $ 1,606.5 $ 1,604.0
Contract with Customer, changes in customer deposits	Changes in the Customer deposits balance for the six months ended August 25, 2023 are as follows: Customer Deposits Balance as of February 24, 2023 $ 50.8 Recognition of revenue related to beginning of year customer deposits (42.2) Customer deposits received, net of revenue recognized during the period 44.0 Balance as of August 25, 2023 $ 52.6

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended	6 Months Ended
	Aug. 25, 2023	Aug. 25, 2023
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	Computation of Three Months Ended August 25, 2023 Three Months Ended August 26, 2022 Net Income Basic Shares Diluted Shares Net Income Basic Shares Diluted Shares Amounts used in calculating earnings per share $ 27.5 118.8 119.1 $ 19.6 117.2 117.7 Impact of participating securities (1.1) (4.8) (4.8) (0.7) (4.4) (4.4) Amounts used in calculating earnings per share, excluding participating securities $ 26.4 114.0 114.3 $ 18.9 112.8 113.3 Earnings per share $ 0.23 $ 0.23 $ 0.17 $ 0.17	Computation of Six Months Ended August 25, 2023 Six Months Ended August 26, 2022 Net Income Basic Shares Diluted Shares Net Income Basic Shares Diluted Shares Amounts used in calculating earnings per share $ 29.0 118.4 118.6 $ 8.2 117.0 117.5 Impact of participating securities (1.1) (4.4) (4.4) (0.3) (4.2) (4.2) Amounts used in calculating earnings per share, excluding participating securities $ 27.9 114.0 114.2 $ 7.9 112.8 113.3 Earnings per share $ 0.24 $ 0.24 $ 0.07 $ 0.07

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended	6 Months Ended
	Aug. 25, 2023	Aug. 25, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]	The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the three months ended August 25, 2023: Unrealized gain (loss) on investment Pension and other post-retirement liability adjustments Derivative amortization Foreign currency translation adjustments Total Balance as of May 26, 2023 $ (0.1) $ 8.7 $ (5.5) $ (72.8) $ (69.7) Other comprehensive income (loss) before reclassifications — (0.3) — 4.2 3.9 Amounts reclassified from accumulated other comprehensive income (loss) — (0.4) 0.3 — (0.1) Net other comprehensive income (loss) during the period — (0.7) 0.3 4.2 3.8 Balance as of August 25, 2023 $ (0.1) $ 8.0 $ (5.2) $ (68.6) $ (65.9) The following table summarizes the changes in accumulated balances of other comprehensive income (loss) for the six months ended August 25, 2023: Unrealized gain (loss) on investment Pension and other post-retirement liability adjustments Derivative amortization Foreign currency translation adjustments Total Balance as of February 24, 2023 $ (0.1) $ 9.3 $ (5.7) $ (76.0) $ (72.5) Other comprehensive income (loss) before reclassifications — (0.4) — 7.4 7.0 Amounts reclassified from accumulated other comprehensive income (loss) — (0.9) 0.5 — (0.4) Net other comprehensive income (loss) during the period — (1.3) 0.5 7.4 6.6 Balance as of August 25, 2023 $ (0.1) $ 8.0 $ (5.2) $ (68.6) $ (65.9)
Reclassification out of Accumulated Other Comprehensive Income [Table Text Block]		The following table provides details about reclassifications out of accumulated other comprehensive income (loss) for the three and six months ended August 25, 2023 and August 26, 2022: Detail of Accumulated Other Amounts Reclassified from Accumulated Other Comprehensive Income (Loss) Affected Line in the Condensed Consolidated Statements of Income Three Months Ended Six Months Ended August 25, August 26, August 25, August 26, Amortization of pension and other post-retirement actuarial gains $ (0.6) $ (0.4) $ (1.2) $ (0.8) Other income, net Income tax expense 0.2 0.1 0.3 0.2 Income tax expense (0.4) (0.3) (0.9) (0.6) Derivative amortization 0.4 0.3 0.7 0.7 Interest expense Income tax benefit (0.1) (0.1) (0.2) (0.2) Income tax expense 0.3 0.2 0.5 0.5 Total reclassifications $ (0.1) $ (0.1) $ (0.4) $ (0.1)

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Aug. 25, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Assets and liabilities measured at fair value within our Condensed Consolidated Balance Sheets as of August 25, 2023 and February 24, 2023 are summarized below: August 25, 2023 Fair Value of Financial Instruments Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 153.6 $ — $ — $ 153.6 Restricted cash 7.0 — — 7.0 Foreign exchange forward contracts — 2.1 — 2.1 Auction rate security — — 2.1 2.1 $ 160.6 $ 2.1 $ 2.1 $ 164.8 Liabilities: Foreign exchange forward contracts $ — $ (0.5) $ — $ (0.5) Contingent consideration — — (9.8) (9.8) $ — $ (0.5) $ (9.8) $ (10.3) February 24, 2023 Fair Value of Financial Instruments Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 90.4 $ — $ — $ 90.4 Restricted cash 6.8 — — 6.8 Foreign exchange forward contracts — 2.3 — 2.3 Auction rate security — — 2.1 2.1 $ 97.2 $ 2.3 $ 2.1 $ 101.6 Liabilities: Foreign exchange forward contracts $ — $ (0.3) $ — $ (0.3) Contingent consideration — — (9.5) (9.5) $ — $ (0.3) $ (9.5) $ (9.8)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	Below is a roll-forward of assets and liabilities measured at estimated fair value using Level 3 inputs during the six months ended August 25, 2023: Roll-forward of Fair Value Using Level 3 Inputs Auction Rate Security - Other Assets Contingent Consideration - Other Long-Term Liabilities Balance as of February 24, 2023 $ 2.1 $ 9.5 Unrealized gain (loss) on investment — — Foreign currency (gain) loss — 0.3 Change in estimated fair value — — Balance as of August 25, 2023 $ 2.1 $ 9.8

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Aug. 25, 2023
Inventories [Abstract]
Schedule of Inventory	Inventories August 25, February 24, Raw materials and work-in-process $ 189.7 $ 232.8 Finished goods 111.6 118.1 301.3 350.9 Revaluation to LIFO 30.3 31.2 $ 271.0 $ 319.7

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Aug. 25, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share Based Payment Award Performance Units Valuation Assumptions	The Monte Carlo simulation was computed using the following assumptions: 2024 PSUs 2023 PSUs 2022 PSUs Tranche 1 Tranche 2 Tranche 1 Tranche 3 Tranche 2 Tranche 1 Risk-free interest rate (1) 3.7 % 4.0 % 2.6 % 4.7 % 2.3 % 0.3 % Expected term 3 years 2 years 3 years 1 year 2 years 3 years Estimated volatility (2) 44.1 % 37.8 % 52.2 % 45.5 % 43.8 % 53.5 % _______________________________________ (1) Based on the U.S. Government bond benchmark on the grant date.
Schedule of Compensation Costs by Plan for Share-based Payment Arrangements	The total PSU expense (credit) and associated tax benefit recorded during the three and six months ended August 25, 2023 and August 26, 2022 are as follows: Three Months Ended Six Months Ended Performance Units August 25, August 26, August 25, August 26, Expense (credit) $ 0.8 $ (0.2) $ 6.2 $ 3.9 Tax benefit 0.1 — 1.5 1.0 The total RSU expense and associated tax benefit for the six months ended August 25, 2023 and August 26, 2022 are as follows: Three Months Ended Six Months Ended Restricted Stock Units August 25, August 26, August 25, August 26, Expense $ 3.4 $ 3.3 $ 11.7 $ 11.2 Tax benefit 0.8 0.8 2.9 2.8
Share-based Payment Arrangement, Performance Shares, Activity	The PSU activity for the six months ended August 25, 2023 is as follows: Maximum Number of Shares of Nonvested Units Total Weighted-Average Nonvested as of February 24, 2023 1,060,231 $ 13.11 Granted 1,315,664 8.30 Nonvested as of August 25, 2023 2,375,895 $ 10.44 As of August 25, 2023, there was $3.3 of remaining unrecognized compensation expense related to nonvested PSUs, which is expected to be recognized over a remaining weighted-average period of 1.9 years.
Schedule of Restricted Stock Unit Awards Activity	The RSU activity for the six months ended August 25, 2023 is as follows: Nonvested Units Total Weighted-Average Nonvested as of February 24, 2023 3,293,268 $ 12.11 Granted 1,564,505 7.89 Vested (23,784) 10.61 Forfeited (39,519) 10.46 Nonvested as of August 25, 2023 4,794,470 $ 10.75

Leases, Codification Topic 842

Leases, Codification Topic 842 (Tables)	6 Months Ended
	Aug. 25, 2023
Leases [Abstract]
Lease, Cost [Table Text Block]	The components of lease expense during the three and six months ended August 25, 2023 and August 26, 2022 are as follows: Three Months Ended Six Months Ended August 25, August 26, August 25, August 26, Operating lease cost $ 13.6 $ 13.5 $ 27.2 $ 25.6 Sublease rental income (0.5) (0.5) (1.0) (1.1) $ 13.1 $ 13.0 $ 26.2 $ 24.5
Lessee, Lease, Supplemental cash flow and other information	Supplemental cash flow and other information related to leases during the three and six months ended August 25, 2023 and August 26, 2022 is as follows: Three Months Ended Six Months Ended August 25, August 26, August 25, August 26, Cash flow information: Operating cash flows used for operating leases $ 13.6 $ 13.6 $ 27.7 $ 27.1 Leased assets obtained in exchange for new operating lease obligations 2.6 10.3 7.6 13.5 As of August 25, 2023 and February 24, 2023, the weighted-average remaining lease terms were 5.0 years and 5.3 years, respectively, and the weighted-average discount rates were 4.3% and 4.2%, respectively.
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	The following table summarizes the future minimum lease payments as of August 25, 2023: Fiscal year ending in February Amount (1) 2024 $ 27.0 2025 53.9 2026 43.0 2027 34.3 2028 25.4 Thereafter 39.9 Total lease payments $ 223.5 Less: Interest 23.2 Present value of lease liabilities $ 200.3 _______________________________________ (1) Lease payments include

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
	Aug. 25, 2023
Business Combinations [Abstract]
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]	The following table summarizes the purchased identified intangible assets and the respective fair value and useful life of each asset at the date of acquisition: Other Intangible Assets Useful Life Fair Value Dealer relationships 10.0 $ 21.5 Trademark 9.0 14.0 Know-how and designs 9.0 12.0 Backlog 0.7 4.3 $ 51.8
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	The fair values of the purchased intangible assets are being amortized on a straight-line basis over their useful lives. The following table summarizes the estimated future amortization expense for the next five years as of August 25, 2023: Fiscal Year Ending in February Amount 2024 $ 2.5 2025 5.1 2026 5.0 2027 5.0 2028 5.0 $ 22.6

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Aug. 25, 2023
Reportable Segments [Abstract]
Schedule of Segment Reporting Information	Revenue, gross profit and operating income (loss) for the three and six months ended August 25, 2023 and August 26, 2022 and total assets and goodwill as of August 25, 2023 and February 24, 2023 by segment are presented in the following tables which reflect the realigned segments: Three Months Ended Six Months Ended Reportable Segment Statement of Income Data August 25, August 26, August 25, August 26, Revenue Americas $ 679.3 $ 677.0 $ 1,252.1 $ 1,220.8 International 175.3 186.3 354.4 383.2 $ 854.6 $ 863.3 $ 1,606.5 $ 1,604.0 Gross Profit Americas $ 235.9 $ 205.9 $ 419.5 $ 345.0 International 47.5 44.9 98.5 97.4 $ 283.4 $ 250.8 $ 518.0 $ 442.4 Operating Income (Loss) Americas $ 60.0 $ 37.6 $ 79.8 $ 26.9 International (19.0) (8.7) (31.5) (10.6) $ 41.0 $ 28.9 $ 48.3 $ 16.3 Reportable Segment Balance Sheet Data August 25, February 24, Total assets Americas $ 1,647.5 $ 1,631.2 International 551.1 571.6 $ 2,198.6 $ 2,202.8 Goodwill Americas $ 268.6 $ 268.3 International 8.7 8.5 $ 277.3 $ 276.8

Restructuring and Related Act_2

Restructuring and Related Activities (Tables)	6 Months Ended
	Aug. 25, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Reserve by Type of Cost	The following table details the changes in the restructuring reserve balance for the six months ended August 25, 2023: Workforce Reductions Balance as of February 24, 2023 $ 4.0 Restructuring costs 16.0 Payments (6.6) Balance as of August 25, 2023 $ 13.4

Basis Of Presentation (Details)

Basis Of Presentation (Details)	6 Months Ended
	Aug. 25, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation, Description	The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions in Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals and adjustments) considered necessary for a fair presentation of the condensed consolidated financial statements have been included. Results for interim periods should not be considered indicative of results to be expected for a full year. Reference should be made to the consolidated financial statements and notes thereto contained in our Annual Report on Form 10-K for the fiscal year ended February 24, 2023 (“Form 10-K”). The Condensed Consolidated Balance Sheet as of February 24, 2023 was derived from the audited Consolidated Balance Sheet included in our Form 10-K.As used in this Quarterly Report on Form 10-Q (“Report”), unless otherwise expressly stated or the context otherwise requires, all references to “Steelcase,” “we,” “our,” “Company” and similar references are to Steelcase Inc. and its subsidiaries in which a controlling interest is maintained. Unless the context otherwise indicates, reference to a year relates to the fiscal year, ended in February of the year indicated, rather than a calendar year. Additionally, Q1, Q2, Q3 and Q4 reference the first, second, third and fourth quarter, respectively, of the fiscal year indicated. All amounts are in millions, except share and per share data, data presented as a percentage or as otherwise indicated

New Accounting Standards (Detai

New Accounting Standards (Details) $ in Millions	6 Months Ended
	Aug. 25, 2023 USD ($)
Accounting Policies [Abstract]
New Accounting Pronouncement or Change in Accounting Principle, Description	We evaluate all Accounting Standards Updates ("ASUs") issued by the Financial Accounting Standards Board ("FASB") for consideration of their applicability to our consolidated financial statements. We have assessed all ASUs issued but not yet adopted and concluded that those not disclosed are either not applicable to us or are not expected to have a material effect on our consolidated financial statements.
Supplier Finance Program	Effective Q1 2024, we adopted ASU No. 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50) , which is intended to enhance transparency of supplier finance programs by requiring disclosure of key terms, amounts outstanding (including a rollforward of outstanding amounts) and a description of where such amounts are presented in the consolidated financial statements. We participate in a supplier finance program in Spain offered by a third-party financial institution. The program allows participating suppliers the ability to finance our payment obligations prior to their scheduled due dates at a discounted price set by the financial institution. We have extended payment terms with suppliers that have voluntarily chosen to participate in the program. As of August 25, 2023, the outstanding amount of program obligations, reported in Accounts payable
Supplier Finance Program, Obligation	$ 0.9
Supplier Finance Program, Obligation, Settlement	$ 4.4

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Aug. 25, 2023	Aug. 26, 2022	Aug. 25, 2023	Aug. 26, 2022	Feb. 24, 2023
Disaggregation of Revenue [Line Items]
Revenue		$ 854.6	$ 863.3	$ 1,606.5	$ 1,604
Contract with Customer, changes in customer deposits [Line Items]
Contract with Customer, Liability		52.6		52.6		$ 50.8
Customer deposits				1.8	(10.8)
UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue		641.3	634.6	1,174	1,136.3
Non-US
Disaggregation of Revenue [Line Items]
Revenue		213.3	228.7	432.5	467.7
Americas [Member]
Disaggregation of Revenue [Line Items]
Revenue		679.3	677	1,252.1	1,220.8
Americas [Member] | Systems and storage [Member]
Disaggregation of Revenue [Line Items]
Revenue		286.7	303.4	536.9	563.7
Americas [Member] | Seating [Member]
Disaggregation of Revenue [Line Items]
Revenue		187.2	203.3	340	359.5
Americas [Member] | Other Product Category [Member]
Disaggregation of Revenue [Line Items]
Revenue	[1]	205.4	170.3	375.2	297.6
International
Disaggregation of Revenue [Line Items]
Revenue		175.3	186.3	354.4	383.2
International | Systems and storage [Member]
Disaggregation of Revenue [Line Items]
Revenue		62.6	63.5	124.2	130.9
International | Seating [Member]
Disaggregation of Revenue [Line Items]
Revenue		61.4	68	123.4	138.7
International | Other Product Category [Member]
Disaggregation of Revenue [Line Items]
Revenue	[1]	$ 51.3	$ 54.8	106.8	$ 113.6
Deposits [Member]
Contract with Customer, changes in customer deposits [Line Items]
Recognition of revenue related to beginning of year customer deposits				(42.2)
Customer deposits				$ 44
[1]The other product category data by segment consists primarily of products sold by consolidated dealers, textiles and surface materials, worktools, architecture and other uncategorized product lines and services, less promotions and incentives on all product categories

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Aug. 25, 2023	Aug. 26, 2022	Aug. 25, 2023	Aug. 26, 2022
Computation of Basic and Diluted Earnings Per Share [Line Items]
Net income	$ 27.5	$ 19.6	$ 29	$ 8.2
Impact of participating securities	(1.1)	(0.7)	(1.1)	(0.3)
Net income used in calculating earnings per share	$ 26.4	$ 18.9	$ 27.9	$ 7.9
Adjustment for participating securities (in millions)	(4.8)	(4.4)	(4.4)	(4.2)
Basic	$ 0.23	$ 0.17	$ 0.24	$ 0.07
Diluted	$ 0.23	$ 0.17	$ 0.24	$ 0.07
Including
Computation of Basic and Diluted Earnings Per Share [Line Items]
Weighted Average Number of Shares Outstanding, Basic	118.8	117.2	118.4	117
Weighted Average Number of Shares Outstanding, Diluted	119.1	117.7	118.6	117.5
Excluding
Computation of Basic and Diluted Earnings Per Share [Line Items]
Weighted Average Number of Shares Outstanding, Basic	114	112.8	114	112.8
Weighted Average Number of Shares Outstanding, Diluted	114.3	113.3	114.2	113.3

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 25, 2023	Aug. 26, 2022	Aug. 25, 2023	Aug. 26, 2022	May 26, 2023	Feb. 24, 2023	May 27, 2022	Feb. 25, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (65.9)	$ (89.8)	$ (65.9)	$ (89.8)	$ (69.7)	$ (72.5)	$ (69)	$ (50.6)
Other comprehensive income (loss) before reclassifications	3.9		7
Amounts reclassified from accumulated other comprehensive income (loss)	(0.1)		(0.4)
Other comprehensive income (loss)	3.8	(20.8)	6.6	(39.2)
Income tax expense	9.5	6.8	10.9	2.4
Interest Expense	6.6	7.2	13.2	13.6
Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive income (loss)	(0.1)	(0.1)	(0.4)	(0.1)
Unrealized gain (loss) on investments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(0.1)		(0.1)		(0.1)	(0.1)
Other comprehensive income (loss) before reclassifications	0		0
Amounts reclassified from accumulated other comprehensive income (loss)	0		0
Other comprehensive income (loss)	0		0
Pension and other post-retirement liability adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	8		8		8.7	9.3
Other comprehensive income (loss) before reclassifications	(0.3)		(0.4)
Amounts reclassified from accumulated other comprehensive income (loss)	(0.4)		(0.9)
Other comprehensive income (loss)	(0.7)		(1.3)
Pension and other post-retirement liability adjustments [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive income (loss)	(0.4)	(0.3)	(0.9)	(0.6)
Income tax expense	0.2	0.1	0.3	0.2
Pension and other post-retirement liability adjustments [Member] | Actuarial losses (gains) [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Income	(0.6)	(0.4)	(1.2)	(0.8)
Derivative Amortization
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(5.2)		(5.2)		(5.5)	(5.7)
Other comprehensive income (loss) before reclassifications	0		0
Amounts reclassified from accumulated other comprehensive income (loss)	0.3		0.5
Other comprehensive income (loss)	0.3		0.5
Derivative Amortization | Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Amounts reclassified from accumulated other comprehensive income (loss)	0.3	0.2	0.5	0.5
Income tax expense	(0.1)	(0.1)	(0.2)	(0.2)
Derivative Amortization | Derivative [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Interest Expense	0.4	$ 0.3	0.7	$ 0.7
Foreign currency translation adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), Net of Tax	(68.6)		(68.6)		$ (72.8)	$ (76)
Other comprehensive income (loss) before reclassifications	4.2		7.4
Amounts reclassified from accumulated other comprehensive income (loss)	0		0
Other comprehensive income (loss)	$ 4.2		$ 7.4

Fair Value Narrative (Details)

Fair Value Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Aug. 25, 2023	Feb. 24, 2023	Aug. 26, 2022	Feb. 25, 2022
Fair Value Disclosures [Abstract]
Debt, Long-term and Short-term, Combined Amount	$ 451.1	$ 481.2
Long-term Debt, Fair Value	393	405.9
Fair Value, Option, Quantitative Disclosures [Line Items]
Restricted cash	7	6.8	$ 6.4	$ 6.1
Contingent consideration	(9.8)	(9.5)
SCS Viccarbe Habitat, S.L. Q3 FY22
Fair Value, Option, Quantitative Disclosures [Line Items]
Business Combination, Contingent Consideration, Liability	14.1
Fair Value, Recurring [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Cash and cash equivalents	153.6	90.4
Restricted cash	7	6.8
Assets, Fair Value Disclosure	164.8	101.6
Liabilities, Fair Value Disclosure	(10.3)	(9.8)
Fair Value, Recurring [Member] | Foreign Exchange Contract [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Foreign exchange forward contracts	2.1	2.3
Foreign exchange forward contracts	(0.5)	(0.3)
Fair Value, Recurring [Member] | Auction Rate Securities [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Auction rate security	2.1	2.1
Fair Value, Recurring [Member] | Contingent Consideration Type [Domain]
Fair Value, Option, Quantitative Disclosures [Line Items]
Contingent consideration	(9.8)	(9.5)
Fair Value, Inputs, Level 1 | Fair Value, Recurring [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Cash and cash equivalents	153.6	90.4
Restricted cash	7	6.8
Assets, Fair Value Disclosure	160.6	97.2
Liabilities, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 | Fair Value, Recurring [Member] | Foreign Exchange Contract [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Foreign exchange forward contracts	0	0
Foreign exchange forward contracts	0	0
Fair Value, Inputs, Level 1 | Fair Value, Recurring [Member] | Auction Rate Securities [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Auction rate security	0	0
Fair Value, Inputs, Level 1 | Fair Value, Recurring [Member] | Contingent Consideration Type [Domain]
Fair Value, Option, Quantitative Disclosures [Line Items]
Contingent consideration	0	0
Fair Value, Inputs, Level 2 | Fair Value, Recurring [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Assets, Fair Value Disclosure	2.1	2.3
Liabilities, Fair Value Disclosure	(0.5)	(0.3)
Fair Value, Inputs, Level 2 | Fair Value, Recurring [Member] | Foreign Exchange Contract [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Foreign exchange forward contracts	2.1	2.3
Foreign exchange forward contracts	(0.5)	(0.3)
Fair Value, Inputs, Level 2 | Fair Value, Recurring [Member] | Auction Rate Securities [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Auction rate security	0	0
Fair Value, Inputs, Level 2 | Fair Value, Recurring [Member] | Contingent Consideration Type [Domain]
Fair Value, Option, Quantitative Disclosures [Line Items]
Contingent consideration	0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Assets, Fair Value Disclosure	2.1	2.1
Liabilities, Fair Value Disclosure	9.8	9.5
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Foreign Exchange Contract [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Foreign exchange forward contracts	0	0
Foreign exchange forward contracts	0	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Auction Rate Securities [Member]
Fair Value, Option, Quantitative Disclosures [Line Items]
Auction rate security	2.1	2.1
Unrealized gain on investments	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Contingent Consideration Type [Domain]
Fair Value, Option, Quantitative Disclosures [Line Items]
Contingent consideration	(9.8)	$ (9.5)
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Contingent Consideration Type [Domain] | SCS Viccarbe Habitat, S.L. Q3 FY22 | Fair Value, Disclosure Item Amounts [Domain]
Fair Value, Option, Quantitative Disclosures [Line Items]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	0
Fair Value, Inputs, Level 3 [Member] | Fair Value, Recurring [Member] | Contingent Consideration Type [Domain] | SCS Viccarbe Habitat, S.L. Q3 FY22 | Foreign Currency Gain (Loss)
Fair Value, Option, Quantitative Disclosures [Line Items]
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	$ 0.3

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Aug. 25, 2023	Feb. 24, 2023
Inventories [Abstract]
Raw materials and work-in-process	$ 189.7	$ 232.8
Finished goods	111.6	118.1
Inventory, net of valuation allowances	301.3	350.9
LIFO reserve	30.3	31.2
Inventory, net of valuation allowances and LIFO reserve	271	319.7
LIFO Inventory Amount	$ 125.9	$ 134.1

Debt (Details)

Debt (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 25, 2023	May 26, 2023	Aug. 25, 2023	Aug. 26, 2022
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 250		$ 250
Line of Credit Facility, Additional Borrowing Capacity Available			125
Borrowings on global committed bank facility			69	$ 266.8
Repayments on note payable			$ 32.2	$ 0
Line of Credit | United States of America, Dollars
Line of Credit Facility [Line Items]
Line of Credit Facility, Interest Rate Description			the Applicable Floating Rate Margin in effect plus the greatest of (i) the Prime Rate, (ii) the Federal Funds Effective Rate plus 0.5%, (iii) the Term SOFR Reference Rate for a one-month interest period plus 1.10% or (iv) 0.75%;•the Applicable Term Benchmark/RFR Margin in effect plus (i) for borrowings in U.S. dollars, the Term SOFR Reference Rate plus 0.10%, or (ii) for borrowings in euros, the Adjusted EURIBOR Rate; or•the Applicable Term Benchmark/RFR Margin in effect plus the Daily Simple SOFR Rate plus 0.10%.
Line of Credit
Line of Credit Facility [Line Items]
Borrowings on global committed bank facility	$ 1.8	$ 67.2
Repayments on note payable		$ 31.8

Share-Based Compensation (Detai

Share-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
		Aug. 25, 2023	Aug. 26, 2022	Aug. 25, 2023	Aug. 26, 2022	Feb. 24, 2023	Feb. 25, 2022
Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding		$ 4.5		$ 4.5		$ 3.5	$ 2.3
Performance and restricted stock units expense		0.8	$ (0.2)	6.2	$ 3.9
Share-based Payment Arrangement, Expense, Tax Benefit		$ 0.1	0	$ 1.5	1
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number		2,375,895		2,375,895		1,060,231
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value		$ 10.44		$ 10.44		$ 13.11
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				1,315,664
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value				$ 8.30
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount		$ 3.3		$ 3.3
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition				1 year 10 months 24 days
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance and restricted stock units expense		3.4	3.3	$ 11.7	11.2
Share-based Payment Arrangement, Expense, Tax Benefit		$ 0.8	$ 0.8	$ 2.9	$ 2.8
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number		4,794,470		4,794,470		3,293,268
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value		$ 10.75		$ 10.75		$ 12.11
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				1,564,505
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value				$ 7.89
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period				(23,784)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value				$ 10.61
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period				(39,519)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value				$ 10.46
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount		$ 13.5		$ 13.5
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition				1 year 7 months 6 days
2024 Performance Unit Award | Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period				767,600
2023 Performance Unit Award | Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period				428,700
2022 Performance unit Award | Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period				448,300
Tranche 1 | 2024 Performance Unit Award | Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (1)	[1]			3.70%
Expected term				3 years
Estimated volatility (2)	[2]			44.10%
Tranche 1 | 2023 Performance Unit Award | Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (1)	[1]			2.60%
Expected term				3 years
Estimated volatility (2)	[2]			52.20%
Tranche 1 | 2022 Performance unit Award | Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (1)	[1]			0.30%
Expected term				3 years
Estimated volatility (2)	[2]			53.50%
Tranche 2 | 2023 Performance Unit Award | Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (1)	[1]			4%
Expected term				2 years
Estimated volatility (2)	[2]			37.80%
Tranche 2 | 2022 Performance unit Award | Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (1)	[1]			2.30%
Expected term				2 years
Estimated volatility (2)	[2]			43.80%
Tranche 3 [Domain] | 2022 Performance unit Award | Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate (1)	[1]			4.70%
Expected term				1 year
Estimated volatility (2)	[2]			45.50%
[1]Based on the U.S. Government bond benchmark on the grant date.[2]Represents the historical price volatility of our Class A Common Stock for the period prior to the grant date which is equivalent to the expected term of the tranche.

Leases, Codification Topic 84_2

Leases, Codification Topic 842 (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Aug. 25, 2023	Aug. 26, 2022	Aug. 25, 2023	Aug. 26, 2022	Feb. 24, 2023
Leases [Abstract]
Operating lease cost		$ 13.6	$ 13.5	$ 27.2	$ 25.6
Sublease rental income		(0.5)	(0.5)	(1)	(1.1)
Operating Lease, Expense		13.1	13	26.2	24.5
Operating cash flows used for operating leases		13.6	13.6	27.7	27.1
Leased assets obtained in exchange for new operating lease obligations		$ 2.6	$ 10.3	$ 7.6	$ 13.5
Operating Lease, Weighted Average Remaining Lease Term		5 years		5 years		5 years 3 months 18 days
Operating Lease, Weighted Average Discount Rate, Percent		4.30%		4.30%		4.20%
Operating Leases, Future Minimum Payments, Remainder of Fiscal Year		$ 27		$ 27
Operating Leases, Future Minimum Payments, Due in Two Years		53.9		53.9
Operating Leases, Future Minimum Payments, Due in Three Years		43		43
Operating Leases, Future Minimum Payments, Due in Four Years		34.3		34.3
Operating Leases, Future Minimum Payments, Due in Five Years		25.4		25.4
Operating Leases, Future Minimum Payments, Due Thereafter		39.9		39.9
Operating Leases, Future Minimum Payments Due	[1]	223.5		223.5
Operating Lease interest included in future lease payments		23.2		23.2
Operating Lease, Liability		$ 200.3		$ 200.3
[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.

Business Combinations (Details)

Business Combinations (Details) - Halcon Furniture LLC Q2 FY23 $ in Millions	6 Months Ended
	Aug. 25, 2023 USD ($)
Acquisition Details [Line Items]
Business Combination, Consideration Transferred	$ 127.5
Business Combination, Working Capital Adjustment	1.9
Business Combination, Separately Recognized Transactions, Liabilities Recognized	2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	51.8
Business Acquisition, Goodwill, Expected Tax Deductible Amount	36.6
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	16.7
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	30.6
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	12.8
Finite-lived Intangible Assets Acquired	51.8
Finite-Lived Intangible Asset, Expected Amortization, Remainder of Fiscal Year	2.5
Finite-Lived Intangible Assets, Amortization Expense, Year Two	5.1
Finite-Lived Intangible Assets, Amortization Expense, Year Three	5
Finite-Lived Intangible Assets, Amortization Expense, Year Four	5
Finite-Lived Intangible Assets, Amortization Expense, Year Five	5
Finite-Lived Intangible Assets, Amortization Expense, Next Five Years	22.6
Deposits [Member]
Acquisition Details [Line Items]
Contract with Customer, Liability, Increase (Decrease) for Contract Acquired in Business Combination	$ 24.3
Dealer relationships [Member]
Acquisition Details [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	10 years
Finite-lived Intangible Assets Acquired	$ 21.5
Trademarks [Member]
Acquisition Details [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	9 years
Finite-lived Intangible Assets Acquired	$ 14
Know-How/Design [Member]
Acquisition Details [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	9 years
Finite-lived Intangible Assets Acquired	$ 12
Order or Production Backlog
Acquisition Details [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	8 months 12 days
Finite-lived Intangible Assets Acquired	$ 4.3

Reportable Segments (Details)

Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Aug. 25, 2023	Aug. 26, 2022	Aug. 25, 2023	Aug. 26, 2022	Feb. 24, 2023
Reportable Segments [Abstract]
Segment Reporting, Factors Used to Identify Entity's Reportable Segments			he Americas segment serves customers in the U.S., Canada, the Caribbean Islands and Latin America with a comprehensive portfolio of furniture, architectural, textile and surface imaging products that are marketed to corporate, government, healthcare, education and retail customers primarily through the Steelcase, AMQ, Coalesse, Designtex, HALCON, Orangebox, Smith System and Viccarbe brands.The International segment serves customers in EMEA and Asia Pacific with a comprehensive portfolio of furniture and architectural products that are marketed to corporate, government, education and retail customers primarily through the Steelcase, Coalesse, Orangebox, Smith System and Viccarbe brands.
Segment Reporting Information [Line Items]
Revenue	$ 854.6	$ 863.3	$ 1,606.5	$ 1,604
Gross profit	283.4	250.8	518	442.4
Operating income	41	28.9	48.3	16.3
Total assets	2,198.6		2,198.6		$ 2,202.8
Goodwill	277.3		277.3		276.8
Americas [Member]
Segment Reporting Information [Line Items]
Revenue	679.3	677	1,252.1	1,220.8
Gross profit	235.9	205.9	419.5	345
Operating income	60	37.6	79.8	26.9
Total assets	1,647.5		1,647.5		1,631.2
Goodwill	268.6		268.6		268.3
International
Segment Reporting Information [Line Items]
Revenue	175.3	186.3	354.4	383.2
Gross profit	47.5	44.9	98.5	97.4
Operating income	(19)	$ (8.7)	(31.5)	$ (10.6)
Total assets	551.1		551.1		571.6
Goodwill	$ 8.7		$ 8.7		$ 8.5

Restructuring and Related Act_3

Restructuring and Related Activities (Details)	3 Months Ended			6 Months Ended
	Aug. 25, 2023 USD ($)	May 26, 2023 USD ($) employee	Feb. 24, 2023 USD ($)	Aug. 25, 2023 USD ($)	Aug. 26, 2022 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring costs				$ 16,000,000	$ 4,700,000
Workforce Reductions
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 13,400,000		$ 4,000,000	13,400,000
Payments for Restructuring				(6,600,000)
Workforce Reductions | Restructuring Charges
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Cost Incurred to Date	16,000,000			16,000,000
Americas [Member] | 2023 Restructuring
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Number of Positions Eliminated			25
Restructuring and Related Cost, Expected Cost			$ 4,400,000
Restructuring costs	100,000	$ 700,000	$ 3,600,000
Americas [Member] | 2024 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Number of Positions Eliminated		30
Restructuring and Related Cost, Expected Cost	1,000,000			1,000,000
Restructuring costs		$ 600,000
EMEA [Member] | 2024 Restructuring Plan | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Number of Positions Eliminated | employee		40
EMEA [Member] | 2024 Restructuring Plan | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Number of Positions Eliminated | employee		50
Asia Pacific | 2024 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Number of Positions Eliminated		240
International | 2024 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Restructuring costs	7,800,000	$ 6,800,000
International | 2024 Restructuring Plan | Minimum
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	16,000,000			16,000,000
International | 2024 Restructuring Plan | Maximum
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	$ 18,000,000			$ 18,000,000