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Summary of Quarterly Results of Operations (Unaudited) | 12 Months Ended
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Jan. 02, 2016
Quarterly Financial Information Disclosure [Abstract] |
Summary of Quarterly Results of Operations (Unaudited) | Summary of Quarterly Results of Operations (Unaudited) The following table presents certain unaudited quarterly financial information for each of the past 8 quarters. In the opinion of the Corporation’s management, this information has been prepared on the same basis as the consolidated financial statements appearing elsewhere in this report and includes all adjustments (consisting only of normal recurring accruals) necessary to state fairly the financial results set forth herein. Results of operations for any previous quarter are not necessarily indicative of results for any future period.
Year-End 2015: (In thousands, except per share data) | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Net sales | $ | 523,477 |  |  | $ | 568,226 |  |  | $ | 615,850 |  |  | $ | 596,866 |
Cost of products sold | 338,977 |  |  | 362,102 |  |  | 384,219 |  |  | 371,723 |
Gross profit | 184,500 |  |  | 206,124 |  |  | 231,631 |  |  | 225,143 |
Selling and administrative expenses | 168,704 |  |  | 167,278 |  |  | 170,371 |  |  | 165,772 |
(Gain) on sale of assets | — |  |  | — |  |  | — |  |  | (195 | )
Restructuring related charges (income) | 377 |  |  | (560 | ) |  | 172 |  |  | 11,803 |
Operating income (loss) | 15,419 |  |  | 39,406 |  |  | 61,088 |  |  | 47,763 |
Interest income (expense) – net | (1,899 | ) |  | (1,849 | ) |  | (1,623 | ) |  | (1,135 | )
Income (loss) before income taxes | 13,520 |  |  | 37,557 |  |  | 59,465 |  |  | 46,628 |
Income taxes | 5,068 |  |  | 13,680 |  |  | 18,619 |  |  | 14,397 |
Net income (loss) | 8,452 |  |  | 23,877 |  |  | 40,846 |  |  | 32,231 |
Less: net income attributable to the noncontrolling interest | (26 | ) |  | (2 | ) |  | (2 | ) |  | — |
Net income (loss) attributable to HNI Corporation | $ | 8,478 |  |  | $ | 23,879 |  |  | $ | 40,848 |  |  | $ | 32,231 |
Net income (loss) attributable to HNI Corporation per common share – basic | $ | 0.19 |  |  | $ | 0.54 |  |  | $ | 0.92 |  |  | $ | 0.73 |
Weighted-average common shares outstanding – basic | 44,304 |  |  | 44,416 |  |  | 44,263 |  |  | 44,158 |
Net income (loss) attributable to HNI Corporation per common share – diluted | $ | 0.19 |  |  | $ | 0.52 |  |  | $ | 0.90 |  |  | $ | 0.71 |
Weighted-average common shares outstanding – diluted | 45,524 |  |  | 45,621 |  |  | 45,403 |  |  | 45,199 |
As a Percentage of Net Sales |  |  |  |  |  |  |  |  |  |  |
Net sales | 100.0 | % |  | 100.0 | % |  | 100.0 | % |  | 100.0 | %
Gross profit | 35.2 |  |  | 36.3 |  |  | 37.6 |  |  | 37.7 |
Selling and administrative expenses | 32.2 |  |  | 29.4 |  |  | 27.7 |  |  | 27.8 |
Restructuring related charges | 0.1 |  |  | (0.1 | ) |  | — |  |  | 2.0 |
Operating income (loss) | 2.9 |  |  | 6.9 |  |  | 9.9 |  |  | 8.0 |
Income taxes | 1.0 |  |  | 2.4 |  |  | 3.0 |  |  | 2.4 |
Net income (loss) attributable to HNI Corporation | 1.6 |  |  | 4.2 |  |  | 6.6 |  |  | 5.4 |
Year-End 2014: (In thousands, except per share data) | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Net sales | $ | 452,201 |  |  | $ | 509,143 |  |  | $ | 614,690 |  |  | $ | 646,661 |
Cost of products sold | 297,029 |  |  | 328,010 |  |  | 394,758 |  |  | 418,698 |
Gross profit | 155,172 |  |  | 181,133 |  |  | 219,932 |  |  | 227,963 |
Selling and administrative expenses | 145,210 |  |  | 155,288 |  |  | 166,216 |  |  | 182,341 |
(Gain) on sale of assets | (8,400 | ) |  | (1,346 | ) |  | — |  |  | (977 | )
Restructuring related charges | (28 | ) |  | 10,282 |  |  | 987 |  |  | 21,778 |
Operating income (loss) | 18,390 |  |  | 16,909 |  |  | 52,729 |  |  | 24,821 |
Interest income (expense) – net | (2,132 | ) |  | (2,041 | ) |  | (1,861 | ) |  | (1,884 | )
Income (loss) before income taxes | 16,258 |  |  | 14,868 |  |  | 50,868 |  |  | 22,937 |
Income taxes | 5,242 |  |  | 5,203 |  |  | 17,372 |  |  | 15,959 |
Net income (loss) | 11,016 |  |  | 9,665 |  |  | 33,496 |  |  | 6,978 |
Less: net income attributable to the noncontrolling interest | (80 | ) |  | (40 | ) |  | (92 | ) |  | (104 | )
Net income (loss) attributable to HNI Corporation | $ | 11,096 |  |  | $ | 9,705 |  |  | $ | 33,588 |  |  | $ | 7,082 |
Net income (loss) attributable to HNI Corporation per common share – basic | $ | 0.25 |  |  | $ | 0.22 |  |  | $ | 0.75 |  |  | $ | 0.16 |
Weighted-average common shares outstanding – basic | 45,039 |  |  | 45,020 |  |  | 44,690 |  |  | 44,324 |
Net income (loss) attributable to HNI Corporation per common share – diluted | $ | 0.24 |  |  | $ | 0.21 |  |  | $ | 0.74 |  |  | $ | 0.16 |
Weighted-average common shares outstanding – diluted | 45,838 |  |  | 45,868 |  |  | 45,611 |  |  | 45,202 |
As a Percentage of Net Sales |  |  |  |  |  |  |  |  |  |  |
Net sales | 100.0 | % |  | 100.0 | % |  | 100.0 | % |  | 100.0 | %
Gross profit | 34.3 |  |  | 35.6 |  |  | 35.8 |  |  | 35.3 |
Selling and administrative expenses | 32.1 |  |  | 30.5 |  |  | 27.0 |  |  | 28.2 |
(Gain) on sale of assets | (1.9 | ) |  | (0.3 | ) |  | — |  |  | (0.2 | )
Restructuring related charges | — |  |  | 2.0 |  |  | 0.2 |  |  | 3.4 |
Operating income (loss) | 4.1 |  |  | 3.3 |  |  | 8.6 |  |  | 3.8 |
Income taxes | 1.2 |  |  | 1.0 |  |  | 2.8 |  |  | 2.5 |
Net income (loss) attributable to HNI Corporation | 2.5 |  |  | 1.9 |  |  | 5.5 |  |  | 1.1 |

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