HNI (HNI) 10-Q 1 Aug 17 2017 Q2 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION	6 Months Ended
	Jul. 01, 2017shares
Document and Entity Information [Abstract]
Entity Registrant Name	HNI CORP
Entity Central Index Key	48,287
Document Type	10-Q
Document Period End Date	Jul. 1, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-30
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding	44,055,733

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jul. 01, 2017	Dec. 31, 2016
Current Assets:
Cash and cash equivalents	$ 27,148	$ 36,312
Short-term investments	2,253	2,252
Receivables	227,212	229,436
Inventories	167,205	118,438
Prepaid expenses and other current assets	43,424	46,603
Total Current Assets	467,242	433,041
Property, Plant, and Equipment:
Land and land improvements	29,094	27,403
Buildings	305,821	283,930
Machinery and equipment	543,524	528,099
Construction in progress	60,671	51,343
Property plant and equipment, at cost	939,110	890,775
Less accumulated depreciation	551,169	534,330
Net Property, Plant, and Equipment	387,941	356,445
Goodwill	290,660	290,699
Deferred Income Taxes	1,095	719
Other Assets	254,221	249,330
Total Assets	1,401,159	1,330,234
Current Liabilities:
Accounts payable and accrued expenses	387,853	425,046
Current maturities of long-term debt	93,323	34,017
Current maturities of other long-term obligations	3,187	4,410
Total Current Liabilities	484,363	463,473
Long-Term Debt	240,000	180,000
Other Long-Term Liabilities	71,177	75,044
Deferred Income Taxes	111,270	110,708
Capital Stock:
Preferred stock - $1 par value, authorized 2,000 shares, no shares outstanding	0	0
Common stock - $1 par value, authorized 200,000 shares, outstanding: July 1, 2017 - 44,240 shares; December 31, 2016 - 44,079 shares	44,056	44,079
Additional paid-in capital	5,438	0
Retained earnings	449,130	461,524
Accumulated other comprehensive income (loss)	(4,633)	(5,000)
Total HNI Corporation shareholders' equity	493,991	500,603
Non-controlling interest	358	406
Total Equity	494,349	501,009
Total Liabilities and Equity	$ 1,401,159	$ 1,330,234

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Jul. 01, 2017	Dec. 31, 2016
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	2,000,000	2,000,000
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares outstanding (in shares)	44,056,000	44,079,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Income Statement [Abstract]
Net sales	$ 514,485	$ 536,538	$ 992,152	$ 1,037,575
Cost of sales	329,733	327,618	633,677	642,944
Gross profit	184,752	208,920	358,475	394,631
Selling and administrative expenses	162,684	162,319	326,350	327,425
Restructuring charges	419	572	2,542	1,658
Operating income	21,649	46,029	29,583	65,548
Interest income	325	63	396	141
Interest expense	1,347	1,131	2,393	3,005
Income before income taxes	20,627	44,961	27,586	62,684
Income taxes	6,771	15,934	8,949	21,815
Net income	13,856	29,027	18,637	40,869
Less: Net income (loss) attributable to non-controlling interest	8	(2)	(48)	(3)
Net income attributable to HNI Corporation	$ 13,848	$ 29,029	$ 18,685	$ 40,872
Average number of common shares outstanding – basic (in shares)	44,178,287	44,431,198	44,114,164	44,344,778
Net income attributable to HNI Corporation per common share – basic (in dollars per share)	$ 0.31	$ 0.65	$ 0.42	$ 0.92
Average number of common shares outstanding – diluted (in shares)	45,305,547	45,632,284	45,375,451	45,308,306
Net income attributable to HNI Corporation per common share – diluted (in dollars per share)	$ 0.31	$ 0.64	$ 0.41	$ 0.90
Foreign currency translation adjustments	$ 115	$ (755)	$ 459	$ (598)
Change in unrealized gains (losses) on marketable securities (net of tax)	19	23	37	73
Change in derivative financial instruments (net of tax)	(394)	(1,030)	(129)	(1,553)
Other comprehensive income (loss) (net of tax)	(260)	(1,762)	367	(2,078)
Comprehensive income	13,596	27,265	19,004	38,791
Less: Comprehensive income (loss) attributable to non-controlling interest	8	(2)	(48)	(3)
Comprehensive income attributable to HNI Corporation	$ 13,588	$ 27,267	$ 19,052	$ 38,794

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive (Loss)/Income	Non- controlling Interest
Beginning balance at Jan. 02, 2016	$ 477,299	$ 44,158	$ 4,407	$ 433,575	$ (5,186)	$ 345
Comprehensive income:
Net income (loss)	40,869			40,872		(3)
Other comprehensive income (net of tax)	(2,078)				(2,078)
Cash dividends	(23,984)			(23,984)
Common shares – treasury:
Shares purchased	(8,745)	(208)	(8,537)
Shares issued under Members’ Stock Purchase Plan and stock awards (net of tax)	22,525	505	22,020
Ending balance at Jul. 02, 2016	505,886	44,455	17,890	450,463	(7,264)	342
Beginning balance at Dec. 31, 2016	501,009	44,079	0	461,524	(5,000)	406
Comprehensive income:
Net income (loss)	18,637			18,685		(48)
Other comprehensive income (net of tax)	367				367
Cash dividends	(24,727)			(24,727)
Common shares – treasury:
Shares purchased	(23,828)	(522)	(16,954)	(6,352)
Shares issued under Members’ Stock Purchase Plan and stock awards (net of tax)	22,891	499	22,392
Ending balance at Jul. 01, 2017	$ 494,349	$ 44,056	$ 5,438	$ 449,130	$ (4,633)	$ 358

CONSOLIDATED STATEMENTS OF EQU6

CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) (Parenthetical) - $ / shares	6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 0.56	$ 0.54

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016
Net Cash Flows From (To) Operating Activities:
Net income	$ 18,637	$ 40,869
Noncash items included in net income:
Depreciation and amortization	36,464	31,631
Other post-retirement and post-employment benefits	796	821
Stock-based compensation	5,803	6,441
Excess tax benefits from stock compensation	0	(485)
Deferred income taxes	126	6,442
(Gain) loss on sale and retirement of long-lived assets and intangibles, net	671	130
Other – net	(2,327)	2,532
Net increase (decrease) in operating assets and liabilities	(85,064)	(50,560)
Increase (decrease) in other liabilities	(2,408)	(5,997)
Net cash flows from (to) operating activities	(27,302)	31,824
Net Cash Flows From (To) Investing Activities:
Capital expenditures	(51,730)	(42,422)
Proceeds from sale of property, plant, and equipment	658	499
Capitalized software	(12,358)	(13,434)
Acquisition spending, net of cash acquired	0	(34,064)
Purchase of investments	(2,040)	(4,875)
Sales or maturities of investments	1,937	4,758
Other – net	1,510	501
Net cash flows from (to) investing activities	(62,023)	(89,037)
Net Cash Flows From (To) Financing Activities:
Proceeds from sales of HNI Corporation common stock	8,313	5,401
Withholding related to net share settlements of equity based awards	(209)	0
Purchase of HNI Corporation common stock	(22,617)	(8,745)
Proceeds from long-term debt	238,890	506,359
Payments of note and long-term debt and other financing	(119,489)	(426,410)
Excess tax benefits from stock compensation	0	485
Dividends paid	(24,727)	(23,984)
Net cash flows from (to) financing activities	80,161	53,106
Net increase (decrease) in cash and cash equivalents	(9,164)	(4,107)
Cash and cash equivalents at beginning of period	36,312	28,548
Cash and cash equivalents at end of period	$ 27,148	$ 24,441

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jul. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited, condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by generally accepted accounting principles for complete financial statements. The December 31, 2016 consolidated balance sheet included in this Form 10-Q was derived from audited financial statements but does not include all disclosures required by generally accepted accounting principles. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement have been included. Operating results for the six -month period ended July 1, 2017 are not necessarily indicative of the results that may be expected for the fiscal year ending December 30, 2017 . For further information, refer to the consolidated financial statements and accompanying notes included in HNI Corporation's (the "Corporation") Annual Report on Form 10-K for the fiscal year ended December 31, 2016 .

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jul. 01, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Corporation measures stock-based compensation expense at grant date, based on the fair value of the award, and recognizes expense over the employees' requisite service periods. Stock-based compensation expense is the cost of stock options and time-based restricted stock units issued under the HNI Corporation 2007 Stock-Based Compensation Plan and shares issued under the HNI Corporation 2002 Members' Stock Purchase Plan and the HNI Corporation Members' Stock Purchase Plan adopted in 2017. The following table summarizes stock-based compensation expense (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Stock-based compensation expense $ 1,132 $ 1,101 $ 5,803 $ 6,441 The options and units granted by the Corporation had fair values of the following (in thousands): Six Months Ended July 1, July 2, Stock options $ 7,206 $ 7,680 Time-based restricted stock units $ — $ 712 The following table summarizes unrecognized compensation expense and the weighted-average remaining service period for non-vested stock options and restricted stock units as of July 1, 2017 : Unrecognized Compensation Expense (in thousands) Weighted-Average Remaining Service Period (years) Non-vested stock options $ 4,721 1.3 Non-vested restricted stock units $ 621 0.9

Inventories

Inventories	6 Months Ended
	Jul. 01, 2017
Inventory Disclosure [Abstract]
Inventories	Inventories The Corporation values its inventory at the lower of cost or net realizable value with approximately 85 percent valued by the last-in, first-out ("LIFO") costing method. (In thousands) July 1, December 31, 2016 Finished products $ 107,874 $ 71,223 Materials and work in process 83,491 71,375 LIFO allowance (24,160 ) (24,160 ) $ 167,205 $ 118,438

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss) and Shareholders' Equity	6 Months Ended
	Jul. 01, 2017
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss) and Shareholders' Equity	Accumulated Other Comprehensive Income (Loss) and Shareholders' Equity The following tables summarize the components of accumulated other comprehensive income (loss) and the changes in accumulated other comprehensive income (loss), net of tax, as applicable for the six months ended (in thousands): Foreign Currency Translation Adjustment Unrealized Gains (Losses) on Marketable Securities Pension and Post-retirement Liabilities Derivative Financial Instruments Accumulated Other Comprehensive Income (Loss) Balance as of December 31, 2016 $ (1,188 ) $ (105 ) $ (5,167 ) $ 1,460 $ (5,000 ) Other comprehensive income (loss) before reclassifications 459 57 — (505 ) 11 Tax (expense) or benefit — (20 ) — 186 166 Amounts reclassified from accumulated other comprehensive (income) loss, net of tax — — — 190 190 Balance as of July 1, 2017 $ (729 ) $ (68 ) $ (5,167 ) $ 1,331 $ (4,633 ) Amounts in parentheses indicate reductions in equity. Foreign Currency Translation Adjustment Unrealized Gains (Losses) on Marketable Securities Pension and Post-retirement Liabilities Derivative Financial Instruments Accumulated Other Comprehensive Income (Loss) Balance as of January 2, 2016 $ 322 $ (2 ) $ (5,506 ) $ — $ (5,186 ) Other comprehensive income (loss) before reclassifications (598 ) 112 — (2,872 ) (3,358 ) Tax (expense) or benefit — (39 ) — 1,057 1,018 Amounts reclassified from accumulated other comprehensive (income) loss, net of tax — — — 262 262 Balance as of July 2, 2016 $ (276 ) $ 71 $ (5,506 ) $ (1,553 ) $ (7,264 ) Amounts in parentheses indicate reductions in equity. In March 2016, the Corporation entered into an interest rate swap transaction to hedge $150 million of outstanding variable rate revolver borrowings against future interest rate volatility. Under the terms of the interest rate swap, the Corporation pays a fixed rate of 1.29 percent and receives one month LIBOR on a $150 million notional value expiring January 2021. As of July 1, 2017 , the fair value of the Corporation's interest rate swap was an asset of $2.1 million , which is reflected in "Other Assets" in the Condensed Consolidated Balance Sheets. The interest rate swap is reported net of tax as $1.3 million in "Accumulated other comprehensive income (loss)" in the Condensed Consolidated Balance Sheets. The following table details the reclassifications from accumulated other comprehensive income (loss) (in thousands): Three Months Ended Six Months Ended Details about Accumulated Other Comprehensive Income (Loss) Components Affected Line Item in the Statement Where Net Income is Presented July 1, July 2, July 1, July 2, Derivative financial instruments Interest rate swap Interest (expense) or income $ (108 ) $ (322 ) $ (301 ) $ (415 ) Tax (expense) or benefit 40 119 111 153 Net of tax $ (68 ) $ (203 ) $ (190 ) $ (262 ) Amounts in parentheses indicate reductions to profit. During the six months ended July 1, 2017 , the Corporation repurchased 521,562 shares of its common stock at a cost of approximately $23.8 million . As of July 1, 2017 , there was a payable of $1.2 million reflected in "Accounts payable and accrued expenses" in the Condensed Consolidated Balance Sheets relating to shares repurchased but not yet settled. During the six months ended July 2, 2016 , the Corporation repurchased 208,000 shares of its common stock at a cost of approximately $8.7 million . As of July 1, 2017 , $113.1 million of the Corporation's Board of Directors' ("Board") current repurchase authorization remained unspent. During the six months ended July 1, 2017 and July 2, 2016 , the Corporation paid dividends to shareholders of $0.56 and $0.54 per share, respectively.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jul. 01, 2017
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table reconciles the numerators and denominators used in the calculation of basic and diluted earnings per share ("EPS") (in thousands, except per share data): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Numerator: Numerator for both basic and diluted EPS attributable to HNI Corporation net income $ 13,848 $ 29,029 $ 18,685 $ 40,872 Denominators: Denominator for basic EPS weighted-average common shares outstanding 44,178 44,431 44,114 44,345 Potentially dilutive shares from stock-based compensation plans 1,128 1,201 1,261 963 Denominator for diluted EPS 45,306 45,632 45,375 45,308 Earnings per share – basic $ 0.31 $ 0.65 $ 0.42 $ 0.92 Earnings per share – diluted $ 0.31 $ 0.64 $ 0.41 $ 0.90 The weighted-average common stock equivalents presented above do not include the effect of the common stock equivalents in the table below because their inclusion would be anti-dilutive. Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Common stock equivalents 875,580 444,723 745,738 730,884 The Corporation implemented ASU No. 2016-09 in the first quarter of fiscal 2017, which had an immaterial impact on the number of potentially dilutive shares from stock-based compensation plans for the three months and six months ended July 1, 2017 . See "Note 13. Recently Adopted Accounting Standards" for more information regarding the implementation of ASU No. 2016-09.

Restructuring

Restructuring	6 Months Ended
	Jul. 01, 2017
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring Restructuring costs recorded in the Condensed Consolidated Statements of Comprehensive Income are as follows (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Cost of sales - accelerated depreciation $ 2,960 $ 1,423 $ 7,158 $ 1,423 Restructuring charges 419 572 2,542 1,658 $ 3,379 $ 1,995 $ 9,700 $ 3,081 Restructuring costs in both the quarter and year-to-date periods for 2017 were incurred as part of the previously announced closures of the hearth manufacturing facilities in Paris, Kentucky and Colville, Washington and the office furniture manufacturing facility in Orleans, Indiana. The costs in both the quarter and year-to-date periods for 2016 were primarily incurred as part of the previously announced closure of the Paris, Kentucky hearth manufacturing facility. The accrued restructuring expenses are expected to be paid in the next twelve months and are included in "Accounts payable and accrued expenses" in the Condensed Consolidated Balance Sheets. The following is a summary of changes in restructuring accruals during the six months ended (in thousands): Severance Facility Exit Costs & Other Total Balance as of December 31, 2016 $ 2,704 $ — $ 2,704 Restructuring charges, excluding accelerated depreciation 895 1,647 2,542 Cash payments (1,699 ) (1,048 ) (2,747 ) Balance as of July 1, 2017 $ 1,900 $ 599 $ 2,499

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jul. 01, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill, by reporting segment, are as follows (in thousands): Office Furniture Hearth Products Total Balance as of December 31, 2016 Goodwill $ 165,643 $ 183,199 $ 348,842 Accumulated impairment losses (58,000 ) (143 ) (58,143 ) Net goodwill balance as of December 31, 2016 107,643 183,056 290,699 Foreign currency translation adjustments (39 ) — (39 ) Balance as of July 1, 2017 Goodwill 165,604 183,199 348,803 Accumulated impairment losses (58,000 ) (143 ) (58,143 ) Net goodwill balance as of July 1, 2017 $ 107,604 $ 183,056 $ 290,660 The table below summarizes amortizable definite-lived intangible assets, which are reflected in "Other Assets" in the Condensed Consolidated Balance Sheets (in thousands): July 1, 2017 December 31, 2016 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Patents $ 18,643 $ 18,625 $ 18 $ 18,645 $ 18,623 $ 22 Software 161,438 28,364 133,074 149,587 25,792 123,795 Trademarks and trade names 7,564 1,731 5,833 7,564 1,401 6,163 Customer lists and other 115,578 66,584 48,994 117,789 65,103 52,686 Net definite lived intangible assets $ 303,223 $ 115,304 $ 187,919 $ 293,585 $ 110,919 $ 182,666 Aggregate amortization expense was as follows (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Amortization expense $ 2,975 $ 2,911 $ 6,088 $ 5,340 Based on the current amount of intangible assets subject to amortization, the estimated amortization expense for each of the following five fiscal years is as follows (in millions): 2017 2018 2019 2020 2021 Amortization expense $ 17.4 $ 23.0 $ 21.9 $ 21.0 $ 20.3 As events, such as acquisitions, dispositions, or impairments, occur in the future, these amounts may change. The Corporation also owns certain intangible assets, which are deemed to have indefinite useful lives because they are expected to generate cash flows indefinitely. These indefinite-lived intangible assets are reflected in "Other Assets" in the Condensed Consolidated Balance Sheets (in thousands): July 1, December 31, Trademarks and trade names $ 37,511 $ 38,054 The Corporation evaluates its goodwill and indefinite-lived intangible assets for impairment on an annual basis during the fourth quarter, or whenever indicators of impairment exist. The Corporation estimates the fair value of its reporting units using various valuation techniques, with the primary technique being a discounted cash flow method. This method employs market participant based assumptions.

Product Warranties

Product Warranties	6 Months Ended
	Jul. 01, 2017
Product Warranties Disclosures [Abstract]
Product Warranties	Product Warranties The Corporation issues certain warranty policies on its office furniture and hearth products that provide for repair or replacement of any covered product or component that fails during normal use because of a defect in design or workmanship. Reserves have been established for the various costs associated with the Corporation's warranty programs. A warranty reserve is determined by recording a specific reserve for known warranty issues and an additional reserve for unknown claims that are expected to be incurred based on historical claims experience. Actual claims incurred could differ from the original estimates, requiring adjustments to the reserve. Activity associated with warranty obligations was as follows (in thousands): Six Months Ended July 1, July 2, Balance at beginning of period $ 15,250 $ 16,227 Accruals for warranties issued during period 11,276 10,159 Adjustments related to pre-existing warranties 32 276 Settlements made during the period (11,332 ) (10,586 ) Balance at end of period $ 15,226 $ 16,076 The current and long-term portions of the reserve for estimated settlements are included under "Accounts payable and accrued expenses" and "Other Long-Term Liabilities", respectively, in the Condensed Consolidated Balance Sheets. The following table summarizes when these estimated settlements are expected to be paid (in thousands): July 1, December 31, Current - in the next twelve months $ 6,823 $ 6,975 Long-term - beyond one year 8,403 8,275 $ 15,226 $ 15,250

Post-Retirement Health Care

Post-Retirement Health Care	6 Months Ended
	Jul. 01, 2017
Retirement Benefits [Abstract]
Post-Retirement Health Care	Post-Retirement Health Care The following table sets forth the components of net periodic benefit costs included in the Condensed Consolidated Statements of Comprehensive Income (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Service cost $ 186 $ 184 $ 371 $ 369 Interest cost 206 211 412 422 Amortization of (gain)/loss 6 15 13 30 Net periodic benefit cost $ 398 $ 410 $ 796 $ 821

Income Taxes

Income Taxes	6 Months Ended
	Jul. 01, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Corporation's tax provision for interim periods is determined using an estimate of its annual effective tax rate, adjusted for discrete items. The Corporation's income tax provision for the three months ended July 1, 2017 was $6.8 million on pre-tax income of $20.6 million , or an effective tax rate of 32.8 percent . For the three months ended July 2, 2016 , the Corporation's income tax provision was $15.9 million on pre-tax income of $45.0 million , or an effective tax rate of 35.4 percent . The effective tax rate was lower in the three months ended July 1, 2017 principally due to the enactment of ASU No. 2016-09 related to stock compensation in the first quarter of 2017. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when awards vest or are settled. See "Note 13. Recently Adopted Accounting Standards" in the Notes to Condensed Consolidated Financial Statements. The Corporation's tax provision for the six months ended July 1, 2017 includes a tax benefit of $1.0 million related to the adoption of this standard. The provision for income taxes for the six months ended July 1, 2017 reflects an effective tax rate of 32.4 percent compared to 34.8 percent for the same period last year. The drivers of the change in the effective tax rate for the first six months were the same as those for the quarter.

Fair Value Measurements of Fina

Fair Value Measurements of Financial Instruments	6 Months Ended
	Jul. 01, 2017
Fair Value Disclosures [Abstract]
Fair Value Measurements of Financial Instruments	Fair Value Measurements of Financial Instruments For recognition purposes, on a recurring basis, the Corporation is required to measure at fair value its marketable securities and derivative instruments. The marketable securities are comprised of government securities, corporate bonds, and money market funds. When available, the Corporation uses quoted market prices to determine fair value and classifies such measurements within Level 1. Where market prices are not available, the Corporation makes use of observable market-based inputs (prices or quotes from published exchanges and indexes) to calculate fair value using the market approach, in which case the measurements are classified within Level 2. Assets measured at fair value as of July 1, 2017 were as follows (in thousands): Fair value as of measurement date Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Government securities $ 6,588 $ — $ 6,588 $ — Corporate bonds $ 5,840 $ — $ 5,840 $ — Derivative financial instruments $ 2,106 $ — $ 2,106 $ — Assets measured at fair value as of December 31, 2016 were as follows (in thousands): Fair value as of measurement date Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Government securities $ 6,268 $ — $ 6,268 $ — Corporate bonds $ 6,017 $ — $ 6,017 $ — Derivative financial instruments $ 2,309 $ — $ 2,309 $ — In addition to the methods and assumptions discussed above, the Corporation uses the following methods and assumptions to estimate the fair value of its financial instruments. Cash and cash equivalents - Level 1 The carrying amount approximated fair value and includes money market funds. Long-term debt (including current portion) - Level 2 The carrying value of the Corporation's outstanding variable-rate debt obligations as of July 1, 2017 and December 31, 2016 was $332 million and $214 million , respectively, which approximated the fair value. The Corporation’s revolving credit facility under the current credit agreement was entered into January 6, 2016 and matures January 6, 2021. The Corporation deferred the debt issuance costs related to the credit agreement, which are classified as assets, and is amortizing them over the term of the credit agreement. The current portion, which is to be amortized over the next twelve months, is reflected in "Prepaid expenses and other current assets" in the Condensed Consolidated Balance Sheets. The long-term portion is reflected in "Other Assets" in the Condensed Consolidated Balance Sheets. As of July 1, 2017 , there was $332 million outstanding under the $400 million revolving credit facility of which $240 million was classified as long-term as the Corporation does not expect to repay the borrowings within a year. Because the Corporation expects, but is not required, to repay the remaining $92 million in the next twelve months, it was classified as current. The revolving credit facility under the credit agreement is the primary source of committed funding from which the Corporation finances its planned capital expenditures and strategic initiatives, such as acquisitions, repurchases of common stock and certain working capital needs. The credit agreement contains a number of covenants. Non-compliance with covenants in the credit agreement could prevent the Corporation from being able to access further borrowings under the revolving credit facility, require immediate repayment of all amounts outstanding with respect to the revolving credit facility and/or increase the cost of borrowing. Certain covenants require maintenance of financial ratios as of the end of any fiscal quarter, including: • a consolidated interest coverage ratio (as defined in the credit agreement) of not less than 4.0 to 1.0, based upon the ratio of (a) consolidated EBITDA for the last four fiscal quarters to (b) the sum of consolidated interest charges; and • a consolidated leverage ratio (as defined in the credit agreement) of not greater than 3.5 to 1.0, based upon the ratio of (a) the quarter-end consolidated funded indebtedness to (b) consolidated EBITDA for the last four fiscal quarters. The most restrictive of the financial covenants is the consolidated leverage ratio requirement of 3.5 to 1.0. Under the credit agreement, consolidated EBITDA is defined as consolidated net income before interest expense, income taxes, and depreciation and amortization of intangibles, as well as non-cash, nonrecurring charges, and all non-cash items increasing net income. As of July 1, 2017 , the Corporation was below the maximum allowable ratio and was in compliance with all of the covenants and other restrictions in the credit agreement. The Corporation expects to remain in compliance over the next twelve months.

Guarantees, Commitments and Con

Guarantees, Commitments and Contingencies	6 Months Ended
	Jul. 01, 2017
Commitments and Contingencies Disclosure [Abstract]
Guarantees, Commitments and Contingencies	Guarantees, Commitments, and Contingencies The Corporation utilizes letters of credit and surety bonds in the amount of $18 million to back certain insurance policies and payment obligations. The Corporation utilizes trade letters of credit and banker's acceptances in the amount of $5 million to guarantee certain payments to overseas suppliers. The letters of credit, bonds, and banker's acceptances reflect fair value as a condition of their underlying purpose and are subject to competitively determined fees. The Corporation has contingent liabilities which have arisen in the ordinary course of its business, including liabilities relating to pending litigation, environmental remediation, taxes, and other claims. It is the Corporation's opinion that liabilities, if any, resulting from these matters are not expected to have a material adverse effect on the Corporation's financial condition, cash flows, or on the Corporation's quarterly or annual operating results when resolved in a future period.

Recently Adopted Accounting Sta

Recently Adopted Accounting Standards	6 Months Ended
	Jul. 01, 2017
Accounting Changes and Error Corrections [Abstract]
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting. The new standard is intended to simplify accounting for share based employment awards to employees. Changes include: all excess tax benefits/deficiencies should be recognized as income tax expense/benefit; entities can make elections on how to account for forfeitures; and cash paid by an employer when directly withholding shares for tax withholding purposes should be classified as a financing activity on the cash flow statement. The Corporation implemented the new standard in the first quarter of fiscal 2017. The primary impact of implementation was the recognition of excess tax benefits in the Corporation's provision for income taxes rather than paid-in capital beginning with the first quarter of fiscal 2017. Excess tax benefits will be recorded in the operating section of the Condensed Consolidated Statements of Cash Flows on a prospective basis. Prior to fiscal 2017, the tax benefits or shortfalls were recorded in financing cash flows. The presentation requirements for cash flows related to employee taxes paid for withheld shares in the financing section had no impact to any of the periods presented in the Corporation's Condensed Consolidated Statements of Cash Flows since such cash flows have historically been presented as a financing activity. Implementation of the new standard resulted in the recognition of excess tax benefits in the Corporation's provision for income taxes of $0.4 million and $1.0 million as a net tax benefit for the three months and six months ended July 1, 2017 , respectively. Prior to the adoption of this standard, those amounts would have been recognized as an adjustment to "Additional paid-in capital" in the Condensed Consolidated Balance Sheets. See "Note 10. Income Taxes" in the Notes to Condensed Consolidated Financial Statements for further information. In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory . The new standard is intended to simplify the subsequent measurement of inventory by requiring inventory to be measured at the lower of cost or net realizable value rather than the previous guidance of measuring inventory at the lower of cost or market. The Corporation implemented the new standard in the first quarter of fiscal 2017. As the Corporation previously calculated net realizable value when measuring inventory at the lower of cost or market, this standard had an immaterial effect on the condensed consolidated financial statements and related disclosures. In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350) . The new standard is to simplify the test for goodwill impairment by eliminating the step 2 requirement. Instead, an entity will perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. The standard is effective for fiscal 2020, but the Corporation has early adopted the standard in 2017. The Corporation has not been required to test for goodwill impairment through the second quarter of 2017.

Reportable Segment Information

Reportable Segment Information	6 Months Ended
	Jul. 01, 2017
Segment Reporting [Abstract]
Reportable Segment Information	Reportable Segment Information Management views the Corporation as being in two reportable segments based on industries: office furniture and hearth products, with the former being the principal business segment. The aggregated office furniture segment manufactures and markets a broad line of metal and wood commercial and home office furniture which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products. The hearth products segment manufactures and markets a broad line of gas, electric, wood and biomass burning fireplaces, inserts, stoves, facings, and accessories, principally for the home. For purposes of segment reporting, intercompany sales between segments are not material, and operating profit is income before income taxes exclusive of certain unallocated corporate expenses. These unallocated corporate expenses include the net costs of the Corporation's corporate operations, interest income, and interest expense. Management views interest income and expense as corporate financing costs and not as a reportable segment cost. In addition, management applies an effective income tax rate to its consolidated income before income taxes so income taxes are not reported or viewed internally on a segment basis. Identifiable assets by segment are those assets applicable to the respective industry segments. Corporate assets consist principally of cash and cash equivalents, short-term investments, long-term investments, and corporate office real estate and related equipment. No geographic information for revenues from external customers or for long-lived assets is disclosed since the Corporation's primary market and capital investments are concentrated in the United States. Reportable segment data reconciled to the Corporation's condensed consolidated financial statements is as follows (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Net Sales: Office furniture $ 406,444 $ 428,113 $ 766,425 $ 815,452 Hearth products 108,041 108,425 225,727 222,123 Total $ 514,485 $ 536,538 $ 992,152 $ 1,037,575 Income Before Income Taxes: Office furniture $ 19,683 $ 43,367 $ 26,127 $ 64,667 Hearth products 12,104 9,954 23,915 22,515 General corporate (11,160 ) (8,360 ) (22,456 ) (24,498 ) Total $ 20,627 $ 44,961 $ 27,586 $ 62,684 Depreciation & Amortization Expense: Office furniture $ 12,498 $ 11,127 $ 25,383 $ 21,820 Hearth products 2,706 3,322 6,194 5,978 General corporate 2,421 1,931 4,887 3,833 Total $ 17,625 $ 16,380 $ 36,464 $ 31,631 Capital Expenditures (including capitalized software): Office furniture $ 16,345 $ 13,580 $ 37,365 $ 30,048 Hearth products 5,134 4,459 7,212 7,012 General corporate 9,833 10,360 19,511 18,796 Total $ 31,312 $ 28,399 $ 64,088 $ 55,856 As of As of Identifiable Assets: Office furniture $ 812,771 $ 749,145 Hearth products 353,768 340,494 General corporate 234,620 240,595 Total $ 1,401,159 $ 1,330,234

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jul. 01, 2017
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures On January 29, 2016, the Corporation acquired OFM, an office furniture company, with annual sales of approximately $30 million at a purchase price of $34.1 million , net of cash acquired, in an all cash transaction. The Corporation finalized the allocation of the purchase price during fourth quarter 2016. There were $15 million of intangible assets other than goodwill associated with this acquisition with estimated useful lives ranging from three to ten years with amortization recorded on a straight-line basis based on the projected cash flow associated with the respective intangible assets. There was $14 million of goodwill associated with this acquisition. The goodwill is deductible for income tax purposes. As part of the Corporation's ongoing business strategy, it continues to acquire and divest small office furniture dealerships. There was no change to Goodwill in the first six months of 2017 as a result of this activity. Goodwill increased approximately $2 million in fiscal 2016 as a result of this activity. The Corporation completed the sale of Artcobell, a K-12 education furniture business, on December 31, 2016. A pre-tax non-cash charge of approximately $23 million and a $10 million long-term note receivable, which was included in "Other Assets" in the Corporation's Consolidated Balance Sheets in Form 10-K for the fiscal year ended December 31, 2016, were recorded in relation to the sale. Artcobell had been included as part of the Corporation's office furniture segment. As of July 1, 2017 , $0.8 million of the note receivable is current and is included in "Prepaid expenses and other current assets" in the Condensed Consolidated Balance Sheets.

Basis of Presentation (Policies

Basis of Presentation (Policies)	6 Months Ended
	Jul. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Stock-Based Compensation	The Corporation measures stock-based compensation expense at grant date, based on the fair value of the award, and recognizes expense over the employees' requisite service periods.
Inventories	The Corporation values its inventory at the lower of cost or net realizable value with approximately 85 percent valued by the last-in, first-out ("LIFO") costing method.
Goodwill and Other Intangible Assets	The Corporation evaluates its goodwill and indefinite-lived intangible assets for impairment on an annual basis during the fourth quarter, or whenever indicators of impairment exist. The Corporation estimates the fair value of its reporting units using various valuation techniques, with the primary technique being a discounted cash flow method. This method employs market participant based assumptions.
Product Warranties	The Corporation issues certain warranty policies on its office furniture and hearth products that provide for repair or replacement of any covered product or component that fails during normal use because of a defect in design or workmanship. Reserves have been established for the various costs associated with the Corporation's warranty programs. A warranty reserve is determined by recording a specific reserve for known warranty issues and an additional reserve for unknown claims that are expected to be incurred based on historical claims experience. Actual claims incurred could differ from the original estimates, requiring adjustments to the reserve.
Fair Value Measurements	For recognition purposes, on a recurring basis, the Corporation is required to measure at fair value its marketable securities and derivative instruments. The marketable securities are comprised of government securities, corporate bonds, and money market funds. When available, the Corporation uses quoted market prices to determine fair value and classifies such measurements within Level 1. Where market prices are not available, the Corporation makes use of observable market-based inputs (prices or quotes from published exchanges and indexes) to calculate fair value using the market approach, in which case the measurements are classified within Level 2.
Recently Adopted Accounting Standards	In March 2016, the FASB issued ASU No. 2016-09, Improvements to Employee Share-Based Payment Accounting. The new standard is intended to simplify accounting for share based employment awards to employees. Changes include: all excess tax benefits/deficiencies should be recognized as income tax expense/benefit; entities can make elections on how to account for forfeitures; and cash paid by an employer when directly withholding shares for tax withholding purposes should be classified as a financing activity on the cash flow statement. The Corporation implemented the new standard in the first quarter of fiscal 2017. The primary impact of implementation was the recognition of excess tax benefits in the Corporation's provision for income taxes rather than paid-in capital beginning with the first quarter of fiscal 2017. Excess tax benefits will be recorded in the operating section of the Condensed Consolidated Statements of Cash Flows on a prospective basis. Prior to fiscal 2017, the tax benefits or shortfalls were recorded in financing cash flows. The presentation requirements for cash flows related to employee taxes paid for withheld shares in the financing section had no impact to any of the periods presented in the Corporation's Condensed Consolidated Statements of Cash Flows since such cash flows have historically been presented as a financing activity. Implementation of the new standard resulted in the recognition of excess tax benefits in the Corporation's provision for income taxes of $0.4 million and $1.0 million as a net tax benefit for the three months and six months ended July 1, 2017 , respectively. Prior to the adoption of this standard, those amounts would have been recognized as an adjustment to "Additional paid-in capital" in the Condensed Consolidated Balance Sheets. See "Note 10. Income Taxes" in the Notes to Condensed Consolidated Financial Statements for further information. In July 2015, the FASB issued ASU No. 2015-11, Simplifying the Measurement of Inventory . The new standard is intended to simplify the subsequent measurement of inventory by requiring inventory to be measured at the lower of cost or net realizable value rather than the previous guidance of measuring inventory at the lower of cost or market. The Corporation implemented the new standard in the first quarter of fiscal 2017. As the Corporation previously calculated net realizable value when measuring inventory at the lower of cost or market, this standard had an immaterial effect on the condensed consolidated financial statements and related disclosures. In January 2017, the FASB issued ASU No. 2017-04, Intangibles-Goodwill and Other (Topic 350) . The new standard is to simplify the test for goodwill impairment by eliminating the step 2 requirement. Instead, an entity will perform its annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. The standard is effective for fiscal 2020, but the Corporation has early adopted the standard in 2017. The Corporation has not been required to test for goodwill impairment through the second quarter of 2017.
Business Segment Information	Management views the Corporation as being in two reportable segments based on industries: office furniture and hearth products, with the former being the principal business segment. The aggregated office furniture segment manufactures and markets a broad line of metal and wood commercial and home office furniture which includes storage products, desks, credenzas, chairs, tables, bookcases, freestanding office partitions and panel systems, and other related products. The hearth products segment manufactures and markets a broad line of gas, electric, wood and biomass burning fireplaces, inserts, stoves, facings, and accessories, principally for the home. For purposes of segment reporting, intercompany sales between segments are not material, and operating profit is income before income taxes exclusive of certain unallocated corporate expenses. These unallocated corporate expenses include the net costs of the Corporation's corporate operations, interest income, and interest expense. Management views interest income and expense as corporate financing costs and not as a reportable segment cost. In addition, management applies an effective income tax rate to its consolidated income before income taxes so income taxes are not reported or viewed internally on a segment basis. Identifiable assets by segment are those assets applicable to the respective industry segments. Corporate assets consist principally of cash and cash equivalents, short-term investments, long-term investments, and corporate office real estate and related equipment. No geographic information for revenues from external customers or for long-lived assets is disclosed since the Corporation's primary market and capital investments are concentrated in the United States.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jul. 01, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Stock Based Compensation Expense	The following table summarizes stock-based compensation expense (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Stock-based compensation expense $ 1,132 $ 1,101 $ 5,803 $ 6,441
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period	The options and units granted by the Corporation had fair values of the following (in thousands): Six Months Ended July 1, July 2, Stock options $ 7,206 $ 7,680 Time-based restricted stock units $ — $ 712
Schedule of Unrecognized Compensation Cost, Nonvested Awards	The following table summarizes unrecognized compensation expense and the weighted-average remaining service period for non-vested stock options and restricted stock units as of July 1, 2017 : Unrecognized Compensation Expense (in thousands) Weighted-Average Remaining Service Period (years) Non-vested stock options $ 4,721 1.3 Non-vested restricted stock units $ 621 0.9

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jul. 01, 2017
Inventory Disclosure [Abstract]
Schedule of Inventories	The Corporation values its inventory at the lower of cost or net realizable value with approximately 85 percent valued by the last-in, first-out ("LIFO") costing method. (In thousands) July 1, December 31, 2016 Finished products $ 107,874 $ 71,223 Materials and work in process 83,491 71,375 LIFO allowance (24,160 ) (24,160 ) $ 167,205 $ 118,438

Accumulated Other Comprehensi26

Accumulated Other Comprehensive Income (Loss) and Shareholders' Equity (Tables)	6 Months Ended
	Jul. 01, 2017
Equity [Abstract]
Schedule of Components of Accumulated Other Comprehensive Income and Changes in Accumulated Other Comprehensive Income, Net of Tax	The following tables summarize the components of accumulated other comprehensive income (loss) and the changes in accumulated other comprehensive income (loss), net of tax, as applicable for the six months ended (in thousands): Foreign Currency Translation Adjustment Unrealized Gains (Losses) on Marketable Securities Pension and Post-retirement Liabilities Derivative Financial Instruments Accumulated Other Comprehensive Income (Loss) Balance as of December 31, 2016 $ (1,188 ) $ (105 ) $ (5,167 ) $ 1,460 $ (5,000 ) Other comprehensive income (loss) before reclassifications 459 57 — (505 ) 11 Tax (expense) or benefit — (20 ) — 186 166 Amounts reclassified from accumulated other comprehensive (income) loss, net of tax — — — 190 190 Balance as of July 1, 2017 $ (729 ) $ (68 ) $ (5,167 ) $ 1,331 $ (4,633 ) Amounts in parentheses indicate reductions in equity. Foreign Currency Translation Adjustment Unrealized Gains (Losses) on Marketable Securities Pension and Post-retirement Liabilities Derivative Financial Instruments Accumulated Other Comprehensive Income (Loss) Balance as of January 2, 2016 $ 322 $ (2 ) $ (5,506 ) $ — $ (5,186 ) Other comprehensive income (loss) before reclassifications (598 ) 112 — (2,872 ) (3,358 ) Tax (expense) or benefit — (39 ) — 1,057 1,018 Amounts reclassified from accumulated other comprehensive (income) loss, net of tax — — — 262 262 Balance as of July 2, 2016 $ (276 ) $ 71 $ (5,506 ) $ (1,553 ) $ (7,264 ) Amounts in parentheses indicate reductions in equity.
Schedule of Reclassification from Accumulated Other Comprehensive Income	The following table details the reclassifications from accumulated other comprehensive income (loss) (in thousands): Three Months Ended Six Months Ended Details about Accumulated Other Comprehensive Income (Loss) Components Affected Line Item in the Statement Where Net Income is Presented July 1, July 2, July 1, July 2, Derivative financial instruments Interest rate swap Interest (expense) or income $ (108 ) $ (322 ) $ (301 ) $ (415 ) Tax (expense) or benefit 40 119 111 153 Net of tax $ (68 ) $ (203 ) $ (190 ) $ (262 ) Amounts in parentheses indicate reductions to profit.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jul. 01, 2017
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Basic and Diluted	The following table reconciles the numerators and denominators used in the calculation of basic and diluted earnings per share ("EPS") (in thousands, except per share data): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Numerator: Numerator for both basic and diluted EPS attributable to HNI Corporation net income $ 13,848 $ 29,029 $ 18,685 $ 40,872 Denominators: Denominator for basic EPS weighted-average common shares outstanding 44,178 44,431 44,114 44,345 Potentially dilutive shares from stock-based compensation plans 1,128 1,201 1,261 963 Denominator for diluted EPS 45,306 45,632 45,375 45,308 Earnings per share – basic $ 0.31 $ 0.65 $ 0.42 $ 0.92 Earnings per share – diluted $ 0.31 $ 0.64 $ 0.41 $ 0.90
Schedule of Weighted Average Number of Shares	The weighted-average common stock equivalents presented above do not include the effect of the common stock equivalents in the table below because their inclusion would be anti-dilutive. Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Common stock equivalents 875,580 444,723 745,738 730,884

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jul. 01, 2017
Restructuring and Related Activities [Abstract]
Summary of Restructuring Costs	The following is a summary of changes in restructuring accruals during the six months ended (in thousands): Severance Facility Exit Costs & Other Total Balance as of December 31, 2016 $ 2,704 $ — $ 2,704 Restructuring charges, excluding accelerated depreciation 895 1,647 2,542 Cash payments (1,699 ) (1,048 ) (2,747 ) Balance as of July 1, 2017 $ 1,900 $ 599 $ 2,499 Restructuring costs recorded in the Condensed Consolidated Statements of Comprehensive Income are as follows (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Cost of sales - accelerated depreciation $ 2,960 $ 1,423 $ 7,158 $ 1,423 Restructuring charges 419 572 2,542 1,658 $ 3,379 $ 1,995 $ 9,700 $ 3,081

Goodwill and Other Intangible29

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jul. 01, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill, by reporting segment, are as follows (in thousands): Office Furniture Hearth Products Total Balance as of December 31, 2016 Goodwill $ 165,643 $ 183,199 $ 348,842 Accumulated impairment losses (58,000 ) (143 ) (58,143 ) Net goodwill balance as of December 31, 2016 107,643 183,056 290,699 Foreign currency translation adjustments (39 ) — (39 ) Balance as of July 1, 2017 Goodwill 165,604 183,199 348,803 Accumulated impairment losses (58,000 ) (143 ) (58,143 ) Net goodwill balance as of July 1, 2017 $ 107,604 $ 183,056 $ 290,660
Schedule of Finite-Lived Intangible Assets by Major Class	The table below summarizes amortizable definite-lived intangible assets, which are reflected in "Other Assets" in the Condensed Consolidated Balance Sheets (in thousands): July 1, 2017 December 31, 2016 Gross Accumulated Amortization Net Gross Accumulated Amortization Net Patents $ 18,643 $ 18,625 $ 18 $ 18,645 $ 18,623 $ 22 Software 161,438 28,364 133,074 149,587 25,792 123,795 Trademarks and trade names 7,564 1,731 5,833 7,564 1,401 6,163 Customer lists and other 115,578 66,584 48,994 117,789 65,103 52,686 Net definite lived intangible assets $ 303,223 $ 115,304 $ 187,919 $ 293,585 $ 110,919 $ 182,666
Finite-lived Intangible Assets Amortization Expense	Aggregate amortization expense was as follows (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Amortization expense $ 2,975 $ 2,911 $ 6,088 $ 5,340
Schedule of Expected Amortization Expense Table	Based on the current amount of intangible assets subject to amortization, the estimated amortization expense for each of the following five fiscal years is as follows (in millions): 2017 2018 2019 2020 2021 Amortization expense $ 17.4 $ 23.0 $ 21.9 $ 21.0 $ 20.3
Schedule of Indefinite Lived Intangible Assets and Goodwill	These indefinite-lived intangible assets are reflected in "Other Assets" in the Condensed Consolidated Balance Sheets (in thousands): July 1, December 31, Trademarks and trade names $ 37,511 $ 38,054

Product Warranties (Tables)

Product Warranties (Tables)	6 Months Ended
	Jul. 01, 2017
Product Warranties Disclosures [Abstract]
Activity Associated with Warranty Obligations	The following table summarizes when these estimated settlements are expected to be paid (in thousands): July 1, December 31, Current - in the next twelve months $ 6,823 $ 6,975 Long-term - beyond one year 8,403 8,275 $ 15,226 $ 15,250 Activity associated with warranty obligations was as follows (in thousands): Six Months Ended July 1, July 2, Balance at beginning of period $ 15,250 $ 16,227 Accruals for warranties issued during period 11,276 10,159 Adjustments related to pre-existing warranties 32 276 Settlements made during the period (11,332 ) (10,586 ) Balance at end of period $ 15,226 $ 16,076

Post-Retirement Health Care (Ta

Post-Retirement Health Care (Tables)	6 Months Ended
	Jul. 01, 2017
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Cost	The following table sets forth the components of net periodic benefit costs included in the Condensed Consolidated Statements of Comprehensive Income (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Service cost $ 186 $ 184 $ 371 $ 369 Interest cost 206 211 412 422 Amortization of (gain)/loss 6 15 13 30 Net periodic benefit cost $ 398 $ 410 $ 796 $ 821

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jul. 01, 2017
Fair Value Disclosures [Abstract]
Schedule of Assets Measured at Fair Value	Assets measured at fair value as of July 1, 2017 were as follows (in thousands): Fair value as of measurement date Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Government securities $ 6,588 $ — $ 6,588 $ — Corporate bonds $ 5,840 $ — $ 5,840 $ — Derivative financial instruments $ 2,106 $ — $ 2,106 $ — Assets measured at fair value as of December 31, 2016 were as follows (in thousands): Fair value as of measurement date Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Government securities $ 6,268 $ — $ 6,268 $ — Corporate bonds $ 6,017 $ — $ 6,017 $ — Derivative financial instruments $ 2,309 $ — $ 2,309 $ —

Reportable Segment Information

Reportable Segment Information (Tables)	6 Months Ended
	Jul. 01, 2017
Segment Reporting [Abstract]
Reportable Segment Data	Reportable segment data reconciled to the Corporation's condensed consolidated financial statements is as follows (in thousands): Three Months Ended Six Months Ended July 1, July 2, July 1, July 2, Net Sales: Office furniture $ 406,444 $ 428,113 $ 766,425 $ 815,452 Hearth products 108,041 108,425 225,727 222,123 Total $ 514,485 $ 536,538 $ 992,152 $ 1,037,575 Income Before Income Taxes: Office furniture $ 19,683 $ 43,367 $ 26,127 $ 64,667 Hearth products 12,104 9,954 23,915 22,515 General corporate (11,160 ) (8,360 ) (22,456 ) (24,498 ) Total $ 20,627 $ 44,961 $ 27,586 $ 62,684 Depreciation & Amortization Expense: Office furniture $ 12,498 $ 11,127 $ 25,383 $ 21,820 Hearth products 2,706 3,322 6,194 5,978 General corporate 2,421 1,931 4,887 3,833 Total $ 17,625 $ 16,380 $ 36,464 $ 31,631 Capital Expenditures (including capitalized software): Office furniture $ 16,345 $ 13,580 $ 37,365 $ 30,048 Hearth products 5,134 4,459 7,212 7,012 General corporate 9,833 10,360 19,511 18,796 Total $ 31,312 $ 28,399 $ 64,088 $ 55,856 As of As of Identifiable Assets: Office furniture $ 812,771 $ 749,145 Hearth products 353,768 340,494 General corporate 234,620 240,595 Total $ 1,401,159 $ 1,330,234

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,132	$ 1,101	$ 5,803	$ 6,441
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of granted stock options			7,206	7,680
Unrecognized compensation cost	4,721		$ 4,721
Remaining requisite service period for unrecognized compensation cost (in years)			1 year 3 months 9 days
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Adjusted fair value of granted restricted stock units			$ 0	$ 712
Unrecognized compensation cost	$ 621		$ 621
Remaining requisite service period for unrecognized compensation cost (in years)			10 months 24 days

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Jul. 01, 2017	Dec. 31, 2016
Inventory Disclosure [Abstract]
Percentage of LIFO Inventory	85.00%
Inventories
Finished products	$ 107,874	$ 71,223
Materials and work in process	83,491	71,375
LIFO allowance	(24,160)	(24,160)
Inventories	$ 167,205	$ 118,438

Accumulated Other Comprehensi36

Accumulated Other Comprehensive Income (Loss) and Shareholders' Equity (Components) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	$ 500,603
Other comprehensive income (loss) before reclassifications	11	$ (3,358)
Tax (expense) or benefit	166	1,018
Amounts reclassified from accumulated other comprehensive (income) loss, net of tax	190	262
Ending balance	493,991
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(5,000)	(5,186)
Ending balance	(4,633)	(7,264)
Foreign Currency Translation Adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(1,188)	322
Other comprehensive income (loss) before reclassifications	459	(598)
Tax (expense) or benefit	0	0
Amounts reclassified from accumulated other comprehensive (income) loss, net of tax	0	0
Ending balance	(729)	(276)
Unrealized Gains (Losses) on Marketable Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(105)	(2)
Other comprehensive income (loss) before reclassifications	57	112
Tax (expense) or benefit	(20)	(39)
Amounts reclassified from accumulated other comprehensive (income) loss, net of tax	0	0
Ending balance	(68)	71
Pension and Post-retirement Liabilities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	(5,167)	(5,506)
Other comprehensive income (loss) before reclassifications	0	0
Tax (expense) or benefit	0	0
Amounts reclassified from accumulated other comprehensive (income) loss, net of tax	0	0
Ending balance	(5,167)	(5,506)
Derivative Financial Instruments
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning balance	1,460	0
Other comprehensive income (loss) before reclassifications	(505)	(2,872)
Tax (expense) or benefit	186	1,057
Amounts reclassified from accumulated other comprehensive (income) loss, net of tax	190	262
Ending balance	$ 1,331	$ (1,553)

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Income (Loss) and Shareholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Dec. 31, 2016	Mar. 31, 2016
Class of Stock [Line Items]
Accumulated other comprehensive income (loss)	$ (4,633)		$ (5,000)
Common stock repurchased, not yet settled	$ 1,200
Cash dividends per common share (in dollars per share)	$ 0.56	$ 0.54
Common Stock
Class of Stock [Line Items]
Repurchased common stock (in shares)	521,562	208,000
Repurchased common stock, value	$ 23,800	$ 8,700
Stock repurchase program, remaining authorized repurchase amount	113,100
Interest rate swap
Class of Stock [Line Items]
Derivative, notional amount				$ 150,000
Derivative, fixed interest rate				1.29%
Derivative liability	2,100
Accumulated other comprehensive income (loss)	$ 1,300

Accumulated Other Comprehensi38

Accumulated Other Comprehensive Income (Loss) and Shareholders' Equity (Reclassification) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest (expense) or income	$ (1,347)	$ (1,131)	$ (2,393)	$ (3,005)
Tax (expense) or benefit	(6,771)	(15,934)	(8,949)	(21,815)
Net income attributable to HNI Corporation	13,848	29,029	18,685	40,872
Interest rate swap | Reclassifications from accumulated other comprehensive income (loss) | Derivative Financial Instruments
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest (expense) or income	(108)	(322)	(301)	(415)
Tax (expense) or benefit	40	119	111	153
Net income attributable to HNI Corporation	$ (68)	$ (203)	$ (190)	$ (262)

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Numerator:
Numerator for both basic and diluted EPS attributable to HNI Corporation net income	$ 13,848	$ 29,029	$ 18,685	$ 40,872
Denominators:
Denominator for basic EPS weighted-average common shares outstanding (in shares)	44,178,287	44,431,198	44,114,164	44,344,778
Potentially dilutive shares from stock-based compensation plans (in shares)	1,128,000	1,201,000	1,261,000	963,000
Denominator for diluted EPS (in shares)	45,305,547	45,632,284	45,375,451	45,308,306
Earnings per share - basic (in dollars per share)	$ 0.31	$ 0.65	$ 0.42	$ 0.92
Earnings per share - diluted (in dollars per share)	$ 0.31	$ 0.64	$ 0.41	$ 0.90

Earnings Per Share Antidilutive

Earnings Per Share Antidilutive Securities Excluded from Earnings Per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Common stock equivalents
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	875,580	444,723	745,738	730,884

Restructuring Costs Expensed (D

Restructuring Costs Expensed (Details) - Realignment of Office Furniture Facilities and Exit of Business Line - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 3,379	$ 1,995	$ 9,700	$ 3,081
Cost of sales - accelerated depreciation
Restructuring Cost and Reserve [Line Items]
Restructuring costs	2,960	1,423	7,158	1,423
Restructuring charges
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 419	$ 572	$ 2,542	$ 1,658

Restructuring (Changes in Restr

Restructuring (Changes in Restructuring Accruals) (Details) - Realignment of Office Furniture Facilities and Exit of Business Line $ in Thousands	6 Months Ended
	Jul. 01, 2017USD ($)
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2016	$ 2,704
Restructuring charges, excluding accelerated depreciation	2,542
Cash payments	(2,747)
Balance as of July 1, 2017	2,499
Severance
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2016	2,704
Restructuring charges, excluding accelerated depreciation	895
Cash payments	(1,699)
Balance as of July 1, 2017	1,900
Facility Exit Costs & Other
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2016	0
Restructuring charges, excluding accelerated depreciation	1,647
Cash payments	(1,048)
Balance as of July 1, 2017	$ 599

Goodwill and Other Intangible43

Goodwill and Other Intangible Assets (Goodwill) (Details) $ in Thousands	6 Months Ended
	Jul. 01, 2017USD ($)
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	$ 348,842
Accumulated impairment losses, beginning balance	(58,143)
Goodwill, net, beginning balance	290,699
Foreign currency translation adjustments	(39)
Goodwill, gross, ending balance	348,803
Accumulated impairment losses, ending balance	(58,143)
Goodwill, net, ending balance	290,660
Office Furniture
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	165,643
Accumulated impairment losses, beginning balance	(58,000)
Goodwill, net, beginning balance	107,643
Foreign currency translation adjustments	(39)
Goodwill, gross, ending balance	165,604
Accumulated impairment losses, ending balance	(58,000)
Goodwill, net, ending balance	107,604
Hearth Products
Goodwill [Roll Forward]
Goodwill, gross, beginning balance	183,199
Accumulated impairment losses, beginning balance	(143)
Goodwill, net, beginning balance	183,056
Foreign currency translation adjustments	0
Goodwill, gross, ending balance	183,199
Accumulated impairment losses, ending balance	(143)
Goodwill, net, ending balance	$ 183,056

Goodwill and Other Intangible44

Goodwill and Other Intangible Assets (Other Intangible Assets) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016	Dec. 31, 2016
Finite-Lived Intangible Assets [Line Items]
Gross	$ 303,223		$ 303,223		$ 293,585
Accumulated Amortization	115,304		115,304		110,919
Net	187,919		187,919		182,666
Amortization expense	2,975	$ 2,911	6,088	$ 5,340
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]
2,017	17,400		17,400
2,018	23,000		23,000
2,019	21,900		21,900
2,020	21,000		21,000
2,021	20,300		20,300
Patents
Finite-Lived Intangible Assets [Line Items]
Gross	18,643		18,643		18,645
Accumulated Amortization	18,625		18,625		18,623
Net	18		18		22
Software
Finite-Lived Intangible Assets [Line Items]
Gross	161,438		161,438		149,587
Accumulated Amortization	28,364		28,364		25,792
Net	133,074		133,074		123,795
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Gross	7,564		7,564		7,564
Accumulated Amortization	1,731		1,731		1,401
Net	5,833		5,833		6,163
Customer lists and other
Finite-Lived Intangible Assets [Line Items]
Gross	115,578		115,578		117,789
Accumulated Amortization	66,584		66,584		65,103
Net	$ 48,994		$ 48,994		$ 52,686

Goodwill and Other Intangible45

Goodwill and Other Intangible Assets (Indefinite Lived Intangible Assets) (Details) - USD ($) $ in Thousands	Jul. 01, 2017	Dec. 31, 2016
Trademarks and trade names
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets (excluding goodwill)	$ 37,511	$ 38,054

Product Warranties (Details)

Product Warranties (Details) - USD ($) $ in Thousands	6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Dec. 31, 2016
Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 15,250	$ 16,227
Accruals for warranties issued during period	11,276	10,159
Adjustments related to pre-existing warranties	32	276
Settlements made during the period	(11,332)	(10,586)
Balance at end of period	15,226	$ 16,076
Current - in the next twelve months	6,823		$ 6,975
Long-term - beyond one year	$ 8,403		$ 8,275

Post-Retirement Health Care (De

Post-Retirement Health Care (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Retirement Benefits [Abstract]
Service cost	$ 186	$ 184	$ 371	$ 369
Interest cost	206	211	412	422
Amortization of (gain)/loss	6	15	13	30
Net periodic benefit cost	$ 398	$ 410	$ 796	$ 821

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2017	Jul. 02, 2016	Jul. 01, 2017	Jul. 02, 2016
Income Tax Disclosure [Abstract]
Income tax provision	$ 6,771	$ 15,934	$ 8,949	$ 21,815
Income before income taxes	$ 20,627	$ 44,961	$ 27,586	$ 62,684
Effective income tax rate (percent)	32.80%	35.40%	32.40%	34.80%
Excess tax benefit due to adoption of ASU 2016-09, amount	$ 400		$ 1,000

Fair Value Measurements (Assets

Fair Value Measurements (Assets) (Details) - Fair value, measurements, recurring - USD ($) $ in Thousands	Jul. 01, 2017	Dec. 31, 2016
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments	$ 2,106	$ 2,309
Quoted prices in active markets for identical assets (Level 1)
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments	0	0
Significant other observable inputs (Level 2)
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments	2,106	2,309
Significant unobservable inputs (Level 3)
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments	0	0
Government securities
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	6,588	6,268
Government securities | Quoted prices in active markets for identical assets (Level 1)
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	0	0
Government securities | Significant other observable inputs (Level 2)
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	6,588	6,268
Government securities | Significant unobservable inputs (Level 3)
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	0	0
Corporate bonds
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	5,840	6,017
Corporate bonds | Quoted prices in active markets for identical assets (Level 1)
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	0	0
Corporate bonds | Significant other observable inputs (Level 2)
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	5,840	6,017
Corporate bonds | Significant unobservable inputs (Level 3)
Fair Value Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available-for-sale securities, fair value disclosure	$ 0	$ 0

Fair Value Measurements (Long-t

Fair Value Measurements (Long-term Debt) (Details)	Jul. 01, 2017USD ($)	Dec. 31, 2016USD ($)
Variable Rate Debt Instruments
Debt Instrument [Line Items]
Long-term debt	$ 332,000,000	$ 214,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding balance	332,000,000
Maximum borrowing capacity	400,000,000
Long-term Debt
Debt Instrument [Line Items]
Long-term debt	240,000,000
Short-term Debt
Debt Instrument [Line Items]
Long-term debt	$ 92,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Ratio of interest coverage to earnings for the last four fiscal quarters	4
Ratio of leverage to earnings for the last four fiscal quarters	3.5

Guarantees, Commitments and C51

Guarantees, Commitments and Contingencies (Details) $ in Millions	Jul. 01, 2017USD ($)
Letter of Credit
Line of Credit Facility [Line Items]
Letters of credit	$ 18
Trade Letters Of Credit And Bankers Acceptances
Line of Credit Facility [Line Items]
Letters of credit	$ 5

Recently Adopted Accounting S52

Recently Adopted Accounting Standards (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jul. 01, 2017	Jul. 01, 2017
Accounting Changes and Error Corrections [Abstract]
Excess tax benefit due to adoption of ASU 2016-09, amount	$ 0.4	$ 1

Reportable Segment Informatio53

Reportable Segment Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 01, 2017USD ($)	Jul. 02, 2016USD ($)	Jul. 01, 2017USD ($)Segment	Jul. 02, 2016USD ($)	Dec. 31, 2016USD ($)
Segment Reporting [Abstract]
Number of reportable segments | Segment			2
Segment Reporting Information [Line Items]
Net sales	$ 514,485	$ 536,538	$ 992,152	$ 1,037,575
Income before income taxes	20,627	44,961	27,586	62,684
Depreciation and amortization	17,625	16,380	36,464	31,631
Capital expenditures (including capitalized software)	31,312	28,399	64,088	55,856
Identifiable assets	1,401,159		1,401,159		$ 1,330,234
Operating segments | Office Furniture
Segment Reporting Information [Line Items]
Net sales	406,444	428,113	766,425	815,452
Income before income taxes	19,683	43,367	26,127	64,667
Depreciation and amortization	12,498	11,127	25,383	21,820
Capital expenditures (including capitalized software)	16,345	13,580	37,365	30,048
Identifiable assets	812,771		812,771		749,145
Operating segments | Hearth Products
Segment Reporting Information [Line Items]
Net sales	108,041	108,425	225,727	222,123
Income before income taxes	12,104	9,954	23,915	22,515
Depreciation and amortization	2,706	3,322	6,194	5,978
Capital expenditures (including capitalized software)	5,134	4,459	7,212	7,012
Identifiable assets	353,768		353,768		340,494
General corporate
Segment Reporting Information [Line Items]
Income before income taxes	(11,160)	(8,360)	(22,456)	(24,498)
Depreciation and amortization	2,421	1,931	4,887	3,833
Capital expenditures (including capitalized software)	9,833	$ 10,360	19,511	$ 18,796
Identifiable assets	$ 234,620		$ 234,620		$ 240,595

Acquisitions and Divestitures (

Acquisitions and Divestitures (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Jan. 29, 2016	Jul. 01, 2017
Acquired Finite-Lived Intangible Assets [Line Items]
Goodwill	$ 290,699		$ 290,660
Increase in goodwill			$ 2,000
Small Office Furniture Company
Acquired Finite-Lived Intangible Assets [Line Items]
Annual sales		$ 30,000
Cost of acquisition		34,100
Intangible assets		15,000
Goodwill		$ 14,000
Small Office Furniture Company | Minimum
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible asset other than goodwill, useful life			3 years
Small Office Furniture Company | Maximum
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible asset other than goodwill, useful life			10 years
Disposal Group, Disposed of by Sale, Not Discontinued Operations
Acquired Finite-Lived Intangible Assets [Line Items]
Pre-tax non-cash charge	23,000
Long term note receivable	$ 10,000
Receivables			$ 800