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Business Segment Information
 9 Months Ended
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