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Business Segment Information | 9 Months Ended
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Oct. 01, 2016
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 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 pellet fireplaces, inserts and stoves, facings and accessories. For purposes of segment reporting, inter-company 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 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 months and nine months ended October 1, 2016 and October 3, 2015, is as follows:
| Three Months Ended |  | Nine Months Ended
(In thousands) | October 1, 2016 |  | October 3, 2015 |  | October 1, 2016 |  | October 3, 2015
Net Sales: |  |  |  |  |  |  |
Office Furniture | $ | 454,946 |  |  | $ | 475,960 |  |  | $ | 1,270,398 |  |  | $ | 1,334,013 |
Hearth Products | 129,683 |  |  | 139,890 |  |  | 351,806 |  |  | 373,540 |
| $ | 584,629 |  |  | $ | 615,850 |  |  | $ | 1,622,204 |  |  | $ | 1,707,553 |
Operating Profit: |  |  |  |  |  |  |
Office furniture | $ | 44,729 |  |  | $ | 48,389 |  |  | $ | 109,396 |  |  | $ | 108,332 |
Hearth products | 19,108 |  |  | 23,498 |  |  | 41,623 |  |  | 47,161 |
Total operating profit | 63,837 |  |  | 71,887 |  |  | 151,019 |  |  | 155,493 |
Unallocated corporate expense | (13,188 | ) |  | (12,422 | ) |  | (37,686 | ) |  | (44,951 | )
Income before income taxes | $ | 50,649 |  |  | $ | 59,465 |  |  | $ | 113,333 |  |  | $ | 110,542 |
Depreciation & Amortization Expense: |  |  |  |  |  |  |
Office furniture | $ | 10,889 |  |  | $ | 10,644 |  |  | $ | 32,709 |  |  | $ | 31,284 |
Hearth products | 3,034 |  |  | 2,166 |  |  | 9,012 |  |  | 6,171 |
General corporate | 3,354 |  |  | 1,694 |  |  | 7,187 |  |  | 4,844 |
| $ | 17,277 |  |  | $ | 14,504 |  |  | $ | 48,908 |  |  | $ | 42,299 |
Capital Expenditures (including capitalized software): |  |  |  |  |  |  |
Office furniture | $ | 13,875 |  |  | $ | 19,590 |  |  | $ | 43,923 |  |  | $ | 45,989 |
Hearth products | 1,957 |  |  | 2,798 |  |  | 8,969 |  |  | 7,195 |
General corporate | 10,811 |  |  | 9,303 |  |  | 29,607 |  |  | 28,389 |
| $ | 26,643 |  |  | $ | 31,691 |  |  | $ | 82,499 |  |  | $ | 81,573 |
| As of |  | As of |  |  |  |
(In thousands) | October 1, 2016 |  | January 2, 2016 |  |  |  |
Identifiable Assets: |  |  |  |  |  |  |
Office furniture | $ | 797,458 |  |  | $ | 739,915 |  |  |  |  |
Hearth products | 360,081 |  |  | 341,813 |  |  |  |  |
General corporate | 203,519 |  |  | 182,197 |  |  |  |  |
| $ | 1,361,058 |  |  | $ | 1,263,925 |  |  |  |  |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=68060357&loc=d3e8906-108599 + Details
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