XML 36 R28.htm IDEA: XBRL DOCUMENT v3.23.3
Reportable Segments
12 Months Ended
Feb. 24, 2023
Segment Reporting [Abstract]  
Reportable Segments REPORTABLE SEGMENTS
Our reportable segments consist of the Americas and International segments.
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.
We primarily review and evaluate revenue, gross profit and operating income (loss) by segment in both our internal review processes and for our external financial reporting. We also allocate resources primarily based on revenue, gross profit and operating income (loss). Total assets by segment include manufacturing and other assets associated with each segment.
Operating Segment DataAmericas  InternationalConsolidated  
2023
Revenue$2,436.2 $796.4 $3,232.6 
Gross profit711.6 207.8 919.4 
Operating income (loss)77.4 (11.9)65.5 
Total assets1,631.2 571.6 2,202.8 
Capital expenditures41.9 17.2 59.1 
Depreciation and amortization64.6 25.4 90.0 
2022
Revenue$1,995.1 $777.6 $2,772.7 
Gross profit546.4 215.1 761.5 
Operating income (loss)21.2 (1.1)20.1 
Total assets1,607.1 653.9 2,261.0 
Capital expenditures44.4 16.1 60.5 
Depreciation and amortization55.6 27.6 83.2 
2021
Revenue$1,927.9 $668.3 $2,596.2 
Gross profit583.9 178.9 762.8 
Operating income (loss)75.2 (32.2)43.0 
Total assets1,777.7 576.3 2,354.0 
Capital expenditures22.6 18.7 41.3 
Depreciation and amortization57.7 27.5 85.2 
The accounting policies of each of the reportable segments are the same as those described in Note 2.
Reportable geographic information is as follows:
Reportable Geographic DataYear Ended
February 24,
2023
February 25,
2022
February 26,
2021
Long-lived assets (1):
United States$358.3 $364.2 $390.3 
Foreign locations216.5 238.4 245.9 
$574.8 $602.6 $636.2 
_______________________________________
(1)Long-lived assets include property, plant and equipment and right-of-use operating lease assets.
No country other than the U.S. represented greater than 10% of our long-lived assets in 2023, 2022 or 2021.