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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 30, 2023
Accounting Policies [Abstract]  
Schedule of Cash, Cash Equivalents and Investments
Cash, cash equivalents, and investments are reflected in the Consolidated Balance Sheets and were as follows:
December 30, 2023December 31, 2022
Cash and cash equivalentsShort-term investmentsOther AssetsCash and cash equivalentsShort-term investmentsOther Assets
Debt securities$— $1.2 $12.3 $— $2.0 $10.8 
Equity investments— 4.3 7.0 — — 1.5 
Cash and money market accounts28.9 — — 17.4 — — 
Total$28.9 $5.6 $19.3 $17.4 $2.0 $12.3 

The following table summarizes the amortized cost basis of the debt securities:
December 30, 2023December 31, 2022
Amortized cost basis of debt securities$13.8 $13.7 
Schedule of Allowance for Doubtful Accounts The following table summarizes the change in the allowance for doubtful accounts:
Balance at beginning of periodCurrent provision and adjustmentsAmounts written offRecoveries and otherAcquisition and divestiture of businessesBalance at end of period
Year ended December 30, 2023$3.2 $0.3 $(0.5)$0.0 $0.4 $3.5 
Year ended December 31, 2022$2.8 $1.7 $(1.0)$0.2 $(0.5)$3.2 
Year ended January 1, 2022$5.5 $(0.9)$(1.9)$0.1 $— $2.8 
Schedule Of Inventory Current Inventories included in the Consolidated Balance Sheets consisted of the following:
December 30, 2023December 31, 2022
Finished products, net$112.9 $121.0 
Materials and work in process, net128.2 112.8 
LIFO allowance(44.5)(53.7)
Total inventories, net$196.6 $180.1 
Inventory valued by the LIFO costing method91 %91 %
Schedule of Property, Plant and Equipment
Total depreciation expense was as follows:
202320222021
Depreciation expense$64.7 $53.3 $53.0 
Schedule of Accounts Payable and Accrued Liabilities
Accounts payable and accrued expenses are reflected in the Consolidated Balance Sheets and were as follows:
December 30, 2023December 31, 2022
Trade accounts payable$193.7 $165.3 
Compensation65.1 47.1 
Profit sharing and retirement10.5 11.6 
Accrued marketing programs31.4 31.3 
Accrued freight12.9 12.5 
Customer deposits35.6 27.3 
Other accrued expenses69.4 72.6 
$418.7 $367.7 
Schedule of Product Warranties
Activity associated with warranty obligations was as follows:
202320222021
Balance at beginning of period$14.8 $16.0 $16.1 
Accruals recognized as a result of business combination3.5 — — 
Accruals for warranties issued11.6 9.3 7.7 
Settlements and other(11.9)(10.5)(7.8)
Balance at end of period$18.0 $14.8 $16.0 
The following table summarizes when these estimated settlements are expected to be paid:
December 30, 2023December 31, 2022
Current - in the next twelve months$6.0 $5.4 
Long-term - beyond one year12.0 9.4 
$18.0 $14.8 
Schedule of Product Development Expense The amounts charged against income and recorded in "Selling and administrative expenses" on the Consolidated Statements of Comprehensive Income were as follows:
202320222021
Research and development costs$47.2 $47.8 $39.4 
Schedule of Freight Expense
Freight expense on shipments to customers was recorded in "Selling and administrative expenses" on the Consolidated Statements of Comprehensive Income as follows:
202320222021
Freight expense$137.8 $142.0 $118.2 
Schedule of Earnings Per Share, Basic and Diluted
The following table reconciles the numerators and denominators used in the calculation of basic and diluted earnings per share ("EPS"):
202320222021
Numerator:   
Numerator for both basic and diluted EPS attributable to HNI Corporation net income$49.2 $123.9 $59.8 
Denominators:   
Denominator for basic EPS weighted-average common shares outstanding44.5 41.7 43.4 
Potentially dilutive shares from stock-based compensation plans0.8 0.5 0.5 
Denominator for diluted EPS45.4 42.2 44.0 
Earnings per share – basic$1.11 $2.97 $1.38 
Earnings per share – diluted$1.09 $2.94 $1.36 
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The weighted-average common stock equivalents presented above do not include the effect of the common stock equivalents in the table below because their inclusion would be anti-dilutive:
202320222021
Common stock equivalents excluded because their inclusion would be anti-dilutive2.1 2.0 1.6 
Schedule of Insurance Reserves The general, auto, product, and workers’ compensation liabilities are managed using a wholly-owned insurance captive and the related liabilities are included in the Consolidated Balance Sheets as follows:
December 30, 2023December 31, 2022
Current - "Accounts payable and accrued expenses"$5.9 $5.2 
Non-current - "Other Long-Term Liabilities"18.8 18.6 
Total general, auto, product, and workers’ compensation liabilities$24.8 $23.8