$HNI

HNI CORP

CIK:0000048287|SEC Filings

Condensed Consolidated Statements of Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jul. 04, 2026	Jun. 28, 2025	Jul. 04, 2026	Jun. 28, 2025
Income Statement [Abstract]
Net sales	$ 1,472.4	$ 667.1	$ 2,819.9	$ 1,266.8
Cost of sales	825.2	380.9	1,672.8	742.3
Gross profit	647.2	286.2	1,147.1	524.6
Selling and administrative expenses	533.0	215.5	1,047.9	423.1
Acquisition and related costs	4.2	0.0	7.8	0.0
Restructuring, impairment, and loss on divestiture	17.9	2.5	35.9	8.9
Operating income	92.1	68.2	55.7	92.6
Other non-operating income, net	2.8	0.0	4.3	0.0
Interest expense, net	23.7	6.1	44.4	11.7
Income before income taxes	71.2	62.0	15.5	80.9
Income taxes	20.1	13.8	3.2	18.8
Net income	51.1	48.3	12.3	62.2
Less: Net income attributable to non-controlling interest	0.0	0.0	0.0	0.0
Net income attributable to HNI Corporation	$ 51.1	$ 48.2	$ 12.3	$ 62.2
Average number of common shares outstanding – basic (in shares)	72.1	46.2	71.8	46.6
Net income attributable to HNI Corporation per common share – basic (in dollars per share)	$ 0.70	$ 1.04	$ 0.17	$ 1.33
Average number of common shares outstanding – diluted (in shares)	72.1	47.1	71.9	47.6
Net income attributable to HNI Corporation per common share – diluted (in dollars per share)	$ 0.70	$ 1.02	$ 0.17	$ 1.31
Foreign currency translation adjustments	$ (2.7)	$ 6.4	$ (7.2)	$ 6.3
Change in unrealized gains (losses) on marketable securities, net of tax	(0.1)	0.1	(0.1)	0.2
Change in pension and post-retirement liability, net of tax	0.0	2.0	0.0	2.0
Change in derivative financial instruments, net of tax	0.4	(0.1)	0.9	(0.6)
Other comprehensive income (loss), net of tax	(2.4)	8.4	(6.4)	7.9
Comprehensive income	48.7	56.7	5.9	70.0
Less: Comprehensive income attributable to non-controlling interest	0.0	0.0	0.0	0.0
Comprehensive income attributable to HNI Corporation	$ 48.7	$ 56.6	$ 5.9	$ 70.0

Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions

6 Months Ended

Jul. 04, 2026

Jun. 28, 2025

Net Cash Flows From (To) Operating Activities:

Net income

$ 12.3

$ 62.2

Non-cash items included in net income:

Depreciation and amortization

141.4

50.5

Other post-retirement and post-employment benefits

1.7

0.5

Stock-based compensation

27.7

10.1

Deferred income taxes

10.1

(7.3)

Asset impairment charges

15.2

0.0

Loss on sale of subsidiary

0.0

6.4

Inventory step-up

31.3

0.0

Other – net

0.9

2.8

Net change in cash from operating assets and liabilities:

Receivables

(59.4)

(53.7)

Inventories

(26.4)

(24.9)

Prepaid Expenses and Other

(55.4)

1.9

Accounts payable and accrued expenses

(84.5)

(10.6)

Income taxes payable

(3.1)

4.3

Increase (decrease) in other liabilities

(43.8)

1.6

Net cash flows from (to) operating activities

(32.0)

43.7

Net Cash Flows From (To) Investing Activities:

Capital expenditures

(62.4)

(30.3)

Capitalized software

(2.3)

(0.9)

Purchase of investments

(2.8)

(1.5)

Sales or maturities of investments

6.2

2.3

Net proceeds from sale of subsidiary

0.0

8.5

Investment in Unconsolidated Affiliate Purchases

(46.4)

0.0

Net proceeds from sale of subsidiary

8.8

0.0

Proceeds from sale of property, plant, and equipment

18.5

3.5

Other

0.7

0.0

Net cash flows from (to) investing activities

(79.8)

(18.4)

Net Cash Flows From (To) Financing Activities:

Payments of debt

(236.7)

(193.0)

Proceeds from debt

315.4

293.0

Dividends paid

(52.1)

(31.9)

Purchase of HNI Corporation common stock

0.0

(79.8)

Proceeds from sales of HNI Corporation common stock

1.4

1.8

(20.5)

(4.4)

Other – net

(1.2)

(1.7)

Net cash flows from (to) financing activities

6.4

(15.8)

Net increase (decrease) in cash and cash equivalents

(105.3)

9.5

Cash, cash equivalents, and restricted cash at beginning of period

217.9

22.5

Cash, cash equivalents, and restricted cash at end of period

^[1]

$ 112.6

$ 32.0

[1]	Restricted cash as of July 4, 2026 and June 28, 2025 was $7.7 million and $2.4 million, respectively, and is included in "Other Assets" in the Consolidated Balance Sheets

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jul. 04, 2026	Jan. 03, 2026
Current Assets:
Cash and cash equivalents	$ 105.0	$ 209.2
Short-term investments	3.2	6.5
Receivables	630.9	571.1
Allowance for credit losses	(1.5)	(1.1)
Inventories, net	498.8	475.3
Prepaid expenses and other current assets	174.3	150.9
Total Current Assets	1,410.6	1,411.9
Property, Plant, and Equipment:
Land and land improvements	84.1	99.1
Buildings	533.6	529.1
Machinery and equipment	1,089.6	1,128.5
Construction in progress	55.1	58.5
Property plant and equipment	1,762.4	1,815.2
Less accumulated depreciation	(737.8)	(678.0)
Net Property, Plant, and Equipment	1,024.6	1,137.2
Right-of-use - Finance Leases	11.8	11.3
Right-of-use - Operating Leases	246.0	274.5
Goodwill and Other Intangible Assets, net	1,792.6	1,702.6
Other Assets	331.9	347.6
Total Assets	4,817.6	4,885.0
Current Liabilities:
Accounts payable and accrued expenses	914.9	1,016.4
Current maturities of debt	18.1	16.2
Current maturities of other long-term obligations	32.7	38.2
Current lease obligations - Finance	4.2	4.2
Current lease obligations - Operating	65.6	64.4
Total Current Liabilities	1,035.6	1,139.3
Long-Term Debt	1,357.1	1,276.9
Long-Term Lease Obligations - Finance	7.9	7.3
Long-Term Lease Obligations - Operating	191.2	224.6
Other Long-Term Liabilities	190.7	220.4
Deferred Income Taxes	230.0	180.9
Total Liabilities	3,012.4	3,049.5
Equity:
HNI Corporation shareholders’ equity	1,805.2	1,835.6
Total Equity	1,805.2	1,835.6
Total Liabilities and Equity	$ 4,817.6	$ 4,885.0