Company research
STEELCASE INC
CIK 1050825Updated Sep 24, 2026
Name history
STEELCASE INC · through Jan 9, 2026
Filing activity
Latest filing
50 filings on record · 15-12G, 4, S-8 POS, 8-K, 425, DEFM14A.
About the company
Steelcase Inc. (NYSE: SCS) is a global design and thought leader in the world of work. Steelcase’s purpose is to help the world work better. Along with more than 30 creative and technology partner brands, Steelcase researches, designs and manufactures furnishings and solutions for many of the places where work happens - including offices, homes and learning and health environments. Together with its 11,300 employees, Steelcase is working toward better futures for the wellbeing of people and the planet. Steelcase’s solutions come to life through its global community of expert Steelcase dealers in approximately 790 locations, store.steelcase.com and other retail partners. For more information, visit Steelcase.com.
Financials
FY 2025 · USDSource
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balance sheet · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| ASSETS | ||||
| AssetsUSD | 2,330,400,000Source | 2,236,700,000Source | 2,202,800,000Source | 2,261,000,000Source |
| Property, Plant and Equipment, NetUSD | 328,100,000Source | 352,900,000Source | 376,500,000Source | 392,800,000Source |
| GoodwillUSD | 273,500,000Source | 274,800,000Source | 276,800,000Source | 242,800,000Source |
| Intangible Assets, Net (Excluding Goodwill)USD | 77,000,000Source | 94,600,000Source | 111,200,000Source | 85,500,000Source |
| Current assets: | ||||
| Cash and Cash Equivalents, at Carrying ValueUSD | 346,300,000Source | 318,600,000Source | 90,400,000Source | 200,900,000Source |
| Accounts Receivable, after Allowance for Credit Loss, CurrentUSD | 323,100,000Source | 338,300,000Source | 373,300,000Source | — |
| Inventory, NetUSD | 245,700,000Source | 231,000,000Source | 319,700,000Source | 326,200,000Source |
| Assets, CurrentUSD | 1,029,000,000Source | 959,400,000Source | 884,000,000Source | 959,200,000Source |
| Operating Lease, Right-of-Use AssetUSD | 141,200,000Source | 168,600,000Source | 198,300,000Source | 209,800,000Source |
| Other Assets, NoncurrentUSD | 91,100,000Source | 48,000,000Source | 30,300,000Source | 28,600,000Source |
| LIABILITIES AND EQUITY | ||||
| LiabilitiesUSD | 1,378,700,000Source | 1,349,600,000Source | 1,376,600,000Source | 1,408,800,000Source |
| Stockholders’ equity: | ||||
| Additional Paid in CapitalUSD | 29,300,000Source | 41,200,000Source | 19,400,000Source | 1,500,000Source |
| Retained Earnings (Accumulated Deficit)USD | 985,900,000Source | 912,800,000Source | 879,300,000Source | 901,300,000Source |
| Accumulated Other Comprehensive Income (Loss), Net of TaxUSD | -63,500,000Source | -66,900,000Source | -72,500,000Source | -50,600,000Source |
| Stockholders' Equity Attributable to ParentUSD | 951,700,000Source | 887,100,000Source | 826,200,000Source | 852,200,000Source |
| Liabilities and EquityUSD | 2,330,400,000Source | 2,236,700,000Source | 2,202,800,000Source | 2,261,000,000Source |
| Current liabilities: | ||||
| Liabilities, CurrentUSD | 669,100,000Source | 607,100,000Source | 603,300,000Source | 567,200,000Source |
| Operating Lease, Liability, CurrentUSD | 39,700,000Source | 45,100,000Source | 44,700,000Source | 44,200,000Source |
| Accounts Payable, CurrentUSD | 228,200,000Source | 211,300,000Source | 203,500,000Source | 243,600,000Source |
| Operating Lease, Liability, NoncurrentUSD | 113,900,000Source | 138,600,000Source | 169,900,000Source | 182,200,000Source |
| Other Liabilities, NoncurrentUSD | 47,900,000Source | 53,100,000Source | 54,900,000Source | 55,300,000Source |
| Additional Financial Items | ||||
| Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after TaxUSD | 15,200,000Source | 5,900,000Source | 9,300,000Source | 5,200,000Source |
| Deferred Tax Liabilities, NetUSD | 64,000,000Source | 79,400,000Source | 80,000,000Source | 92,300,000Source |
| Long-term Debt, Excluding Current MaturitiesUSD | 447,100,000Source | 446,300,000Source | 445,500,000Source | 477,400,000Source |
| Long-term Debt, Excluding Current MaturitiesUSD | 447,100,000Source | 446,300,000Source | 445,500,000Source | 477,400,000Source |
| Short-term InvestmentsUSD | 41,600,000Source | — | — | — |
cash flow · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Cash flows from operating activities: | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||
| Depreciation, Depletion and AmortizationUSD | 80,800,000Source | 83,600,000Source | 90,000,000Source | 83,200,000Source |
| Share-based Payment Arrangement, Noncash ExpenseUSD | 24,500,000Source | 26,000,000Source | 21,800,000Source | 16,100,000Source |
| Changes in operating assets and liabilities: | ||||
| Increase (Decrease) in Accounts ReceivableUSD | -11,800,000Source | -21,700,000Source | 43,700,000Source | 74,900,000Source |
| Increase (Decrease) in InventoriesUSD | 16,300,000Source | -88,300,000Source | -12,000,000Source | 133,400,000Source |
| Increase (Decrease) in Accounts PayableUSD | 17,100,000Source | 9,900,000Source | -39,300,000Source | 62,900,000Source |
| Deferred Income Tax Expense (Benefit)USD | -56,800,000Source | 1,000,000Source | -700,000Source | -13,400,000Source |
| Net Cash Provided by (Used in) Operating ActivitiesUSD | 148,500,000Source | 308,700,000Source | 89,400,000Source | -102,600,000Source |
| Cash flows from investing activities: | ||||
| Payments to Acquire Businesses, Net of Cash AcquiredUSD | 0Source | 0Source | 105,300,000Source | 32,600,000Source |
| Net Cash Provided by (Used in) Investing ActivitiesUSD | -34,800,000Source | 6,100,000Source | -134,800,000Source | -65,500,000Source |
| Payments for (Proceeds from) Other Investing ActivitiesUSD | -8,800,000Source | -3,800,000Source | -7,500,000Source | -10,200,000Source |
| Payments to Acquire Property, Plant, and EquipmentUSD | 47,100,000Source | 47,100,000Source | 59,100,000Source | 60,500,000Source |
| Cash flows from financing activities: | ||||
| Payments for Repurchase of Common StockUSD | 36,400,000Source | 4,200,000Source | 3,900,000Source | 55,200,000Source |
| Net Cash Provided by (Used in) Financing ActivitiesUSD | -84,000,000Source | -85,900,000Source | -62,900,000Source | -120,000,000Source |
| Dividends paid | — | — | — | — |
| Proceeds from (Payments for) Other Financing ActivitiesUSD | 0Source | -1,900,000Source | -1,700,000Source | -2,200,000Source |
| Repayments of Long-term DebtUSD | 0Source | 32,200,000Source | — | — |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate EffectUSD | 27,900,000Source | 228,700,000Source | -109,800,000Source | -288,600,000Source |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | 353,800,000Source | 325,900,000Source | 97,200,000Source | 207,000,000Source |
| Supplemental disclosure of cash flow information: | ||||
| Interest Paid, Excluding Capitalized Interest, Operating ActivitiesUSD | 23,100,000Source | 24,000,000Source | 26,200,000Source | 23,200,000Source |
| Income Taxes Paid, NetUSD | 47,200,000Source | 33,100,000Source | -16,600,000Source | 2,500,000Source |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash EquivalentsUSD | -1,800,000Source | -200,000Source | -1,500,000Source | -500,000Source |
| Additional Financial Items | ||||
| Share-based Payment Arrangement, ExpenseUSD | — | — | — | -1,800,000Source |
| Amortization of Debt Issuance CostsUSD | 800,000Source | 800,000Source | 700,000Source | 800,000Source |
| Amortization of Intangible AssetsUSD | 17,400,000Source | 17,200,000Source | 22,800,000Source | 14,800,000Source |
| DepreciationUSD | 63,300,000Source | 66,000,000Source | 67,000,000Source | 67,500,000Source |
| Derivative, Gain (Loss) on Derivative, NetUSD | — | — | — | -700,000Source |
| Gain (Loss) on Disposition of AssetsUSD | 41,000,000Source | 10,900,000Source | 12,900,000Source | — |
| Gain (Loss) on Disposition of Property Plant EquipmentUSD | 41,000,000Source | — | — | 0Source |
| GoodwillUSD | 273,500,000Source | 274,800,000Source | 276,800,000Source | 242,800,000Source |
| Goodwill, Impairment LossUSD | — | — | — | 0Source |
| Income (Loss) from Equity Method InvestmentsUSD | 9,200,000Source | 13,500,000Source | 12,500,000Source | 7,800,000Source |
| Income Tax Expense (Benefit)USD | 13,500,000Source | 26,000,000Source | 16,300,000Source | -2,400,000Source |
| Net Income (Loss) Attributable to ParentUSD | 120,700,000Source | 81,100,000Source | 35,300,000Source | 4,000,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 116,700,000Source | 78,000,000Source | 34,000,000Source | 3,900,000Source |
| Operating ExpensesUSD | 888,000,000Source | 876,500,000Source | 837,200,000Source | 741,400,000Source |
| Operating Lease, ExpenseUSD | 45,300,000Source | 51,500,000Source | 49,700,000Source | — |
| Other Nonoperating Income (Expense)USD | -12,000,000Source | 8,700,000Source | 13,500,000Source | 6,600,000Source |
income statement · annual statements
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|
| Total RevenueUSD | 3,166,000,000Source | 3,159,600,000Source | 3,232,600,000Source | 2,772,700,000Source |
| Cost of RevenueUSD | — | — | 2,310,700,000Source | 2,011,200,000Source |
| Operating Income (Loss)USD | 158,100,000Source | 117,800,000Source | 65,500,000Source | 20,100,000Source |
| Other Nonoperating Income (Expense)USD | -12,000,000Source | 8,700,000Source | 13,500,000Source | 6,600,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling InterestUSD | 134,200,000Source | 107,100,000Source | 51,600,000Source | 1,600,000Source |
| Income Tax Expense (Benefit)USD | 13,500,000Source | 26,000,000Source | 16,300,000Source | -2,400,000Source |
| Net Income (Loss) Attributable to ParentUSD | 120,700,000Source | 81,100,000Source | 35,300,000Source | 4,000,000Source |
| Earnings Per Share, BasicUSD per share | 1.02Source | 0.68Source | 0.3Source | 0.03Source |
| Earnings Per Share, DilutedUSD per share | 1.02Source | 0.68Source | 0.3Source | 0.03Source |
| Additional Financial Items | ||||
| Amortization of Intangible AssetsUSD | 17,400,000Source | 17,200,000Source | 22,800,000Source | 14,800,000Source |
| Current Income Tax Expense (Benefit)USD | 70,300,000Source | 25,000,000Source | 17,000,000Source | 11,000,000Source |
| Goodwill, Impairment LossUSD | — | — | — | 0Source |
| Gross ProfitUSD | 1,046,500,000Source | 1,012,400,000Source | 919,400,000Source | 761,500,000Source |
| Income (Loss) from Continuing Operations before Income Taxes, DomesticUSD | 95,900,000Source | 42,300,000Source | 2,100,000Source | -38,000,000Source |
| Income (Loss) from Equity Method InvestmentsUSD | 9,200,000Source | 13,500,000Source | 12,500,000Source | 7,800,000Source |
| Interest ExpenseUSD | 25,700,000Source | 25,900,000Source | 28,400,000Source | 25,700,000Source |
| Net Income (Loss) Available to Common Stockholders, BasicUSD | 116,700,000Source | 78,000,000Source | 34,000,000Source | 3,900,000Source |
| Operating ExpensesUSD | 888,000,000Source | 876,500,000Source | 837,200,000Source | 741,400,000Source |
| Operating Lease, ExpenseUSD | 45,300,000Source | 51,500,000Source | 49,700,000Source | — |
| Other ExpensesUSD | — | — | — | 0Source |
| Research and Development ExpenseUSD | 50,400,000Source | 48,200,000Source | 44,400,000Source | 45,400,000Source |
Filing attachments
d77540dex991.htm · 8-K · 2025-12-11
EX-99.1 4 d77540dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 HNI Corporation 600 East Second Street, Muscatine, Iowa 52761, Tel 563 272 7400, Fax 563 272 7347, hnicorp.com News Release HNI CORPORATION COMPLETES ACQUISITION OF STEELCASE INC. MUSCATINE, Iowa - December 10, 2025 - HNI Corporation (NYSE: HNI) announced today the completion of its acquisition of Steelcase Inc. (NYSE: SCS), uniting two industry leaders to meet the dynamic challenges and evolving needs of the workplace amid …
Read attachment ↗d96459dex991.htm · 8-K · 2025-12-05
EX-99.1 2 d96459dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 NEWS RELEASE HNI Corporation and Steelcase Inc. Shareholders Approve Proposals in Connection with HNI’s Proposed Acquisition of Steelcase; Closing Date Anticipated to Be December 10, 2025 Final milestones achieved ahead of anticipated December 10, 2025 closing MUSCATINE, Iowa & GRAND RAPIDS, Mich., December 5, 2025 - HNI Corporation (NYSE: HNI) (“HNI”) and Steelcase Inc. (NYSE: SCS) (“Steelcase”) today announced that, in connection…
Read attachment ↗d84475dex991.htm · 8-K · 2025-11-25
EX-99.1 2 d84475dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 News Release HNI and Steelcase Announce Election Deadline for Steelcase Shareholders to Elect Form of Merger Consideration Election Deadline Set for 5:00 p.m., Eastern Time, on December 4, 2025 MUSCATINE, Iowa & GRAND RAPIDS, Mich., November 25, 2025 - HNI Corporation (“HNI”) (NYSE: HNI) and Steelcase Inc. (“Steelcase”) (NYSE: SCS) announced today that the deadline for Steelcase shareholders to elect the form of merger consideratio…
Read attachment ↗d225004dex41.htm · 8-K · 2025-10-10
EX-4.1 2 d225004dex41.htm EX-4.1 EX-4.1 Exhibit 4.1 STEELCASE INC. Issuer AND THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. (successor in interest to J.P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION) as Trustee FIRST SUPPLEMENTAL INDENTURE Dated as of October 9, 2025 Senior Debt Securities FIRST SUPPLEMENTAL INDENTURE, dated as of October 9, 2025, between Steelcase Inc., a Michigan corporation (the “Company”), and The Bank of New York Mellon Trust Company, N.A. (successor in int…
Read attachment ↗d904356dex991.htm · 8-K · 2025-08-04
EX-99.1 3 d904356dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Steelcase Inc. 901 44th Street SE Grand Rapids, MI 49508, USA August 3, 2025 Robert C. Pew III [****] Re: Voting and Support Agreement Mr. Pew: Reference is made to that certain Voting and Support Agreement, dated as of the date hereof, by and among you (on behalf of yourself and certain affiliated trusts), Mrs. Susan H. Taylor and HNI Corporation, an Iowa corporation (“HNI”) (the “Voting Agreement”). This letter is t…
Read attachment ↗d904356dex992.htm · 8-K · 2025-08-04
EX-99.2 4 d904356dex992.htm EX-99.2 EX-99.2 Exhibit 99.2 EXECUTION VERSION VOTING AND SUPPORT AGREEMENT This VOTING AND SUPPORT AGREEMENT (as the same may be amended from time to time in accordance with its terms, this “Agreement”), dated as of August 3, 2025, by and among the Persons listed on Schedule A hereto (each a “Shareholder” and together, the “Shareholders”) in each such person’s capacity as a shareholder of Steelcase Inc., a Michigan corporation (the “Company”), and HNI Corpora…
Read attachment ↗