v3.24.3

Short-Term Borrowings and Long-Term Debt - Schedule of Long Term Debt Instruments (Details) - USD ($) $ in Millions	Aug. 31, 2024	Jun. 01, 2024
Debt Instrument [Line Items]
Supplier financing program	$ 1.9	$ 2.0
Finance lease liability	1.3	1.4
Total debt	1,381.6	1,347.8
Less: Unamortized discount and issuance costs	(11.7)	(12.6)
Less: Current debt	(45.9)	(43.5)
Long-term debt	$ 1,324.0	$ 1,291.7
Supplier Finance Program, Obligation, Statement of Financial Position Extensible Enumeration Not Disclosed Flag	Supplier financing program	Supplier financing program
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Long-term debt	Long-term debt
Term Loan A, due July 2026
Debt Instrument [Line Items]
Interest rate (percent)	7.1112%	7.1112%
Debt securities	$ 337.5	$ 345.0
Term Loan B, due July 2028
Debt Instrument [Line Items]
Interest rate (percent)	7.3612%	7.3612%
Debt securities	$ 607.8	$ 609.4
Syndicated Lline of Credit \| Syndicated revolving line of credit, due July 2026
Debt Instrument [Line Items]
Syndicated revolving line of credit, due July 2026	$ 433.1	$ 390.0

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The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

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MILLERKNOLL, INC. 10-Q