Revolution Work Transformation
From the Personal Harbor
  of Jim Hackett
The Road to Six Billion and Beyond
The Six Growth Strategies Illustrated
Information for Our Investors
Steelcase Offerings Around
  the World
Financial Highlights
MD&A
Consolidated Statements of Income
Consolidated Balance Sheets
Consolidated Statements of Changes
  in Shareholders' Equity
Consolidated Statements of Cash
  Flows
Notes to Consolidated Financial
  Statements
Report of Independent Certified
  Public Accountants and
  Management's Responsibility
  for Financial Reporting
Directors and Executive Officers



ST E E L C A S E  I N C.
Consolidated Balance Sheets
(in millions, except share data)
Febuary 25, 2000
Febuary 26, 1999
ASSETS
Current assets:    
  Cash and cash equivalents
  Short-term investments
$ 73.7
14.9
$ 67.5
8.6
  Accounts receivable, less allowances
       of $45.5 and $27.6

592.6

348.9
   Notes receivable and leased assets
   Inventories
   Prepaid expenses
   Deferred income taxes

189.0
166.5
12.5
78.1
140.4
96.5
6.8
68.7
Total current assets
1,127.3
737.4
Property and equipment, net

939.1

739.0
Notes receivable and leased assets

294.1

209.1
Joint ventures and dealer transitions

37.0

210.4
Deferred income taxes

43.7

40.5

Goodwill and other intangible assets,
  net of accumulated amortization of $38.6 and $25.6

422.6

99.6

Other assets

173.8

146.5
Total assets
$ 3,037.6
$ 2,182.5
The accompanying notes are an integral part of these consolidated financial statements.

 

(in millions, except share data)
Febuary 25, 2000
Febuary 26, 1999
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
    Accounts and notes payable
$ 219.8)
$102.1)
    Short-term borrowings
        and current portion of long-term debt

209.0)
—
     Accrued expenses:
          Employee compensation
          Employee benefit plan obligations
          Other
121.1)
90.0)
287.3)
92.8)
51.8)
200.1)
Total current liabilities
927.2)
446.8)
Long-term liabilities:    
     Long-term debt
257.8)
—
     Employee benefit plan obligations
243.7)
222.8)
     Deferred income taxes
29.5)
—
     Other long-term liabilities
17.2)
12.9)
Total long-term liabilities
548.2)
235.7)
Total liabilities
1,475.4)
682.5)
Commitments and contingencies
Shareholders' equity:		    
     Preferred Stock-no par value; 50,000,000 shares
          authorized, none issued and outstanding
—
—
     Class A Common Stock-no par value; 475,000,000 shares
          authorized, 30,168,585 and 23,676,407 issued
          and outstanding
82.4)
78.0)
     Class B Common Stock-no par value; 475,000,000 shares
          authorized, 120,989,840 and 129,942,288 issued
          and outstanding
260.3)
301.4)
     Accumulated other comprehensive income(loss)
     Retained earnings
(33.0)
1,252.5)
(15.0)
1,135.6)
Total shareholders' equity
1,562.2)
1,500.0)
Total liabilities and shareholders' equity
$ 3,037.6)
$ 2,182.5)
The accompanying notes are an integral part of these consolidated financial statements.