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Business Segment Information
 9 Months Ended
Oct. 03, 2015
Segment Reporting [Abstract]  
Business Segment Information
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 office furniture which includes storage products, desks, credenzas, chairs, tables, bookcases, classroom solutions, freestanding office partitions and panel systems and other related products.  The hearth products segment manufactures and markets a broad line of manufactured gas, electric, wood and biomass burning fireplaces, inserts and stoves, facings and accessories, principally for the home.

For purposes of segment reporting, intercompany sales transfers 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 cost 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 for the three and nine month periods ended October 3, 2015, and September 27, 2014, is as follows:
 
October 3, 2015
 
Nine Months Ended
(In thousands)
October 3, 2015
 
September 27, 2014
 
October 3, 2015
 
September 27, 2014
Net Sales:
 
 
 
 
 
 
 
Office Furniture
$
475,960

 
$
488,612

 
$
1,334,013

 
$
1,270,404

Hearth Products
139,890

 
126,078

 
373,540

 
305,630

 
$
615,850

 
$
614,690

 
$
1,707,553

 
$
1,576,034

Operating Profit:
 
 
 
 
 
 
 
Office furniture
48,389

 
42,753

 
108,332

 
77,488

Hearth products
23,498

 
23,785

 
47,161

 
43,974

Total operating profit
71,887

 
66,538

 
155,493

 
121,462

Unallocated corporate expense
(12,422
)
 
(15,670
)
 
(44,951
)
 
(39,468
)
Income before income taxes
$
59,465

 
$
50,868

 
$
110,542

 
$
81,994

 
 
 
 
 
 
 
 
Depreciation & Amortization Expense:
 
 
 
 
 
 
 
Office furniture
$
10,644

 
$
12,427

 
$
31,284

 
$
34,398

Hearth products
2,166

 
1,121

 
6,171

 
3,455

General corporate
1,694

 
1,264

 
4,844

 
3,911

 
$
14,504

 
$
14,812

 
$
42,299

 
$
41,764

 
 
 
 
 
 
 
 
Capital Expenditures (including capitalized software):
 
 
 
 
 
 
 
Office furniture
$
19,590

 
$
13,542

 
$
45,989

 
$
43,378

Hearth products
2,798

 
1,691

 
7,195

 
4,389

General corporate
9,303

 
15,394

 
28,389

 
33,981

 
$
31,691

 
$
30,627

 
$
81,573

 
$
81,748

 
 
 
 
 
 
 
 
 
 
 
 
 
As of
 
As of
(In thousands)
 
 
 
 
October 3,
2015
 
January 3,
2015
Identifiable Assets:
 
 
 
 
 
 
 
Office furniture
 
 
 
 
$
769,641

 
$
724,293

Hearth products
 
 
 
 
374,716

 
341,315

General corporate
 
 
 
 
178,076

 
173,726

 
 
 
 
 
$
1,322,433

 
$
1,239,334