One of the Company's wholly owned foreign subsidiaries has a defined-benefit pension plan based upon an average final pay benefit calculation. The measurement date for this plan is the last day of the fiscal year and the plan is frozen to new participants.

Prior to the end of the second quarter of fiscal 2025, the Knoll subsidiary had one domestic defined-benefit pension plan covering eligible U.S. nonunion employees. The measurement date for this plan had been the last day of the fiscal year and the plan was frozen to new participants. In the second quarter of fiscal 2025, the Company completed the termination of the defined-benefit pension plan held by the Knoll subsidiary, which was fully funded as of November 30, 2024. During the second quarter of fiscal 2025, the Company settled its obligations under the plan by providing lump-sum payments of $39.9 million to eligible participants who elected to receive them and entering into an annuity purchase contract for the remaining liability of $84.7 million. The Company recognized a pension plan termination gain of $1.5 million during the twelve months ended May 31, 2025, which represents the acceleration of unamortized net actuarial losses previously included within accumulated other comprehensive income. The gain was recorded in Other (income) expense, net within our Consolidated Statements of Comprehensive Income.



(In millions)	2026		2025
	International		Domestic		International
Change in benefit obligation:
Benefit obligation at beginning of year	$	77.9	$	125.9	$	81.2

Interest cost	4.1		2.7		4.3

Plan settlements	—		(123.5)		—

Foreign exchange impact	(0.1)		—		4.5
Actuarial loss (gain) (1)	1.4		(1.3)		(8.1)


Benefits paid	(3.8)		(3.8)		(4.0)

Benefit obligation at end of year	$	79.5	$	—	$	77.9

Change in plan assets:
Fair value of plan assets at beginning of year	$	87.3	$	123.1	$	89.3
Actual return on plan assets	6.9		6.0		(3.2)
Foreign exchange impact	—		—		4.9
Employer contributions	1.0		—		0.3

Asset reversion	—		(0.6)		—
Plan settlements	—		(123.5)		—
Actual expenses paid	—		(1.2)		—
Benefits paid	(3.8)		(3.8)		(4.0)

Fair value of plan assets at end of year	$	91.4	$	—	$	87.3

Funded status:
Over funded status at end of year	$	11.9	$	—	$	9.4

Components of the amounts recognized in the Consolidated Balance Sheets:

Non-current assets	$	11.9	$	—	$	9.4



Components of the amounts recognized in Accumulated other comprehensive loss before the effect of income taxes:
Prior service cost	$	0.2	$	—	$	0.3
Unrecognized net actuarial loss	31.3		—		31.1
Accumulated other comprehensive loss	$	31.5	$	—	$	31.4


Components of Net Periodic Benefit Costs and Other Changes Recognized in Other Comprehensive Income (Loss):
(In millions)	2026		2025				2024
	International		Domestic		International		Domestic		International
Service cost	$	—	$	0.9	$	—	$	—	$	—
Interest cost	4.1		2.7		4.3		6.1		4.1
Expected return on plan assets	(6.1)		(2.0)		(5.7)		(9.1)		(5.0)
Pension plan termination gain	—		(1.5)		—		—		—
Expected administrative expenses	—		—		—		0.7		—

Amortization of prior service cost	0.1		—		0.1		—		0.1
Amortization of net loss (gain)	0.5		—		0.6		(0.1)		—
Net periodic (income) benefit cost	$	(1.4)	$	0.1	$	(0.7)	$	(2.4)	$	(0.8)


Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss):
(In millions)	2026		2025
	International		Domestic		International
Net actuarial loss (gain)	$	0.5	$	(4.1)	$	0.9
Net amortization	(0.6)		—		(0.7)
Pension plan termination gain	—		1.5		—

Total recognized in other comprehensive loss	$	(0.1)	$	(2.6)	$	0.2


Weighted-average assumptions used in the determination of net periodic benefit cost:
(Percentages)	2026	2025		2024
	International	Domestic	International	Domestic	International
Discount rate	5.82	5.10	5.18	5.17	5.34
Compensation increase rate	2.80	N/A	3.15	N/A	3.00
Expected return on plan assets	5.95	4.46	5.40	6.80	4.80


Weighted-average assumptions used in the determination of the projected benefit obligations:
Discount rate	5.94	N/A	5.82	5.10	5.18
Compensation increase rate	2.95	N/A	2.00	N/A	3.15

For the international plan, the Company uses a full yield curve approach to estimate the benefit obligation discount rate and the interest component of net periodic benefit cost for pension benefits. This method applies the specific spot rates along the yield curve used in the determination of the benefit obligation to the relevant projected cash flows.

The assets of the Company's employee benefit plan consist mainly of listed fixed income obligations and common/collective trusts. The Company's primary objective for invested pension plan assets is to provide for sufficient long-term growth and liquidity to satisfy all of its benefit obligations over time. Accordingly, the Company has developed an investment strategy that it believes maximizes the probability of meeting this overall objective. This strategy includes the development of a target investment allocation by asset category in order to provide guidelines for making investment decisions. This target allocation emphasizes the long-term characteristics of individual asset classes as well as the diversification among multiple asset classes. In developing its strategy, the Company considered the need to balance the varying risks associated with each asset class with the long-term nature of its benefit obligations.The Company's strategy is to increase the level of fixed income investments as the funding status improves, thereby more closely matching the return on assets with the liabilities of the plan.

The Company utilizes independent investment managers to assist with investment decisions within the overall guidelines of the investment strategy. The target asset allocation at the end of fiscal 2026 and asset categories for the Company's pension plans for fiscal 2026 and 2025 are as follows:


				Targeted Asset Allocation Percentage
Asset Category			2026			2025
			International			International
Fixed income				74%			74%
Cash			1%			1%
Common collective trusts			25%			25%
Total			100%			100%

				Percentage of Plan Assets at Year End
				2026			2025
				International			International
Fixed income			61%			63%
Cash			13%			12%
Common collective trusts			26%			25%
Total			100%			100%











	May 30, 2026
(In millions)	International
Asset Category	Level 1			Level 2			Total
Cash and cash equivalents	$	12.3		$	—		$	12.3
Foreign government obligations	—			55.5			55.5
Common collective trusts-balanced	—			23.6			23.6
Total	$	12.3		$	79.1		$	91.4










	May 31, 2025
(In millions)	International
Asset Category	Level 1			Level 2			Total
Cash and cash equivalents	$	10.3		$	—		$	10.3
Foreign government obligations	—			54.8			54.8
Common collective trusts-balanced	—			22.2			22.2
Total	$	10.3		$	77.0		$	87.3

The Company reviews pension funding requirements to determine the contribution to be made in the next year. Actual contributions will be dependent upon investment returns, changes in pension obligations and other economic and regulatory factors. During fiscal 2026 and fiscal 2025, the Company made total cash contributions of $0.9 million and $0.3 million, respectively, to its pension plans.

The Company expects to contribute approximately $0.2 million to its pension plan in fiscal 2027. The following represents a summary of the benefits expected to be paid by the plan in future fiscal years. These expected benefits were estimated based on the same actuarial valuation assumptions used to determine benefit obligations at May 30, 2026.

Substantially all of the Company’s domestic employees are eligible to participate in a defined contribution retirement plan, primarily the MillerKnoll Retirement Plan. Employees under the plan are eligible to begin participating on their date of hire. The Company contributes to the plans as matching contributions a certain percentage of the participant’s salary deferral, subject to certain limitations defined in the plan documents. The Company’s other defined contribution retirement plans may provide for matching contributions, non-elective contributions and discretionary contributions as declared by management.