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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jul. 01, 2017
Jul. 02, 2016
Jul. 01, 2017
Jul. 02, 2016
Income Statement [Abstract]        
Net sales $ 514,485 $ 536,538 $ 992,152 $ 1,037,575
Cost of sales 329,733 327,618 633,677 642,944
Gross profit 184,752 208,920 358,475 394,631
Selling and administrative expenses 162,684 162,319 326,350 327,425
Restructuring charges 419 572 2,542 1,658
Operating income 21,649 46,029 29,583 65,548
Interest income 325 63 396 141
Interest expense 1,347 1,131 2,393 3,005
Income before income taxes 20,627 44,961 27,586 62,684
Income taxes 6,771 15,934 8,949 21,815
Net income 13,856 29,027 18,637 40,869
Less: Net income (loss) attributable to non-controlling interest 8 (2) (48) (3)
Net income attributable to HNI Corporation $ 13,848 $ 29,029 $ 18,685 $ 40,872
Average number of common shares outstanding – basic (in shares) 44,178,287 44,431,198 44,114,164 44,344,778
Net income attributable to HNI Corporation per common share – basic (in dollars per share) $ 0.31 $ 0.65 $ 0.42 $ 0.92
Average number of common shares outstanding – diluted (in shares) 45,305,547 45,632,284 45,375,451 45,308,306
Net income attributable to HNI Corporation per common share – diluted (in dollars per share) $ 0.31 $ 0.64 $ 0.41 $ 0.90
Foreign currency translation adjustments $ 115 $ (755) $ 459 $ (598)
Change in unrealized gains (losses) on marketable securities (net of tax) 19 23 37 73
Change in derivative financial instruments (net of tax) (394) (1,030) (129) (1,553)
Other comprehensive income (loss) (net of tax) (260) (1,762) 367 (2,078)
Comprehensive income 13,596 27,265 19,004 38,791
Less: Comprehensive income (loss) attributable to non-controlling interest 8 (2) (48) (3)
Comprehensive income attributable to HNI Corporation $ 13,588 $ 27,267 $ 19,052 $ 38,794