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Reportable Segment Information | 6 Months Ended
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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, 2017 |  | July 2, 2016 |  | July 1, 2017 |  | July 2, 2016
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 July 1, 2017 |  | As of December 31, 2016
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 |

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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 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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