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Revenue from Contracts with Customers (Tables) | 3 Months Ended
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Apr. 03, 2021
Revenue from Contract with Customer [Abstract] |
Disaggregation of Revenue | Revenue from contracts with customers disaggregated by product category is as follows (in thousands):
| Three Months Ended |  |
| April 3, 2021 |  | March 28, 2020 |  |  |  |
Systems and storage | $ | 182,859 |  |  | $ | 204,021 |  |  |  |  |
Seating | 101,650 |  |  | 115,872 |  |  |  |  |
Other | 18,239 |  |  | 18,493 |  |  |  |  |
Total workplace furnishings | 302,748 |  |  | 338,386 |  |  |  |  |
Residential building products | 181,545 |  |  | 130,318 |  |  |  |  |
Net sales | $ | 484,293 |  |  | $ | 468,704 |  |  |  |  |
Contract with Customer, Asset and Liability | Contract assets and contract liabilities were as follows (in thousands):
| April 3, 2021 |  | January 2, 2021
Trade receivables (1) | $ | 198,039 |  |  | $ | 207,971 |
Contract assets (current) (2) | $ | 761 |  |  | $ | 761 |
Contract assets (long-term) (3) | $ | 2,174 |  |  | $ | 2,486 |
Contract liabilities (4) | $ | 47,022 |  |  | $ | 53,070 |
The index below indicates the line item in the Condensed Consolidated Balance Sheets where contract assets and contract liabilities are reported: (1) "Receivables" (2) "Prepaid expenses and other current assets" (3) "Other Assets" (4) "Accounts payable and accrued expenses" Changes in contract asset and contract liability balances during the three months ended April 3, 2021, were as follows (in thousands):
| Contract assets increase (decrease) |  | Contract liabilities (increase) decrease
Reclassification of contract assets to contra-revenue | $ | (312) |  |  | $ | — |
Contract liabilities recognized and recorded to contra-revenue as a result of performance obligations satisfied | — |  |  | (47,347) |
Contract liabilities paid | — |  |  | 54,735 |
Cash received in advance and not recognized as revenue | — |  |  | (51,014) |
Reclassification of cash received in advance to revenue as a result of performance obligations satisfied | — |  |  | 49,674 |
Net change | $ | (312) |  |  | $ | 6,048 |
Changes in contract asset and contract liability balances during the three months ended March 28, 2020 were as follows (in thousands):
| Contract assets increase (decrease) |  | Contract liabilities (increase) decrease
Reclassification of contract assets to contra-revenue | $ | (164) |  |  | $ | — |
Contract liabilities recognized and recorded to contra-revenue as a result of performance obligations satisfied | — |  |  | (24,610) |
Contract liabilities paid | — |  |  | 39,064 |
Cash received in advance and not recognized as revenue | — |  |  | (19,220) |
Reclassification of cash received in advance to revenue as a result of performance obligations satisfied | — |  |  | 21,710 |
Net change | $ | (164) |  |  | $ | 16,944 |

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- Definition Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045 + Details
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- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045 + Details
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