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Acquisitions and Divestitures (Tables)
 12 Months Ended
Dec. 30, 2023
Business Combination and Asset Acquisition [Abstract]  
Schedule of Business Acquisitions by Acquisition, Contingent Consideration
The total fair market value of consideration was approximately $503.7 million, which is allocated as follows:

Kimball International SharesHNI Shares ExchangedFair Value
Cash Consideration:
Shares of Kimball International stock issued and outstanding as of June 1, 202336.4$327.8 
Kimball International equivalent shares0.22.3 
Total number of Kimball International shares for cash consideration36.6330.0 
Consideration for payment to settle Kimball International’s outstanding debt50.2 
Share Consideration:
Shares of Kimball International stock issued and outstanding as of June 1, 202336.44.7120.8 
Replacement Share-Based Awards:
Outstanding awards of Kimball International restricted stock units relating to Kimball International Common Stock as of June 1, 20230.50.22.6 
Total acquisition date fair value of purchase consideration$503.7 
Schedule of Purchase Price Allocation of Identifiable Tangible And Intangible Assets and Liabilities
The preliminary purchase price allocation of identifiable tangible and intangible assets and liabilities as of the date of acquisition is as follows:
Fair Value
Assets
Cash and cash equivalents$10.5 
Short-term investments4.2 
Receivables47.4 
Inventories, net75.0 
Prepaid expenses and other current assets12.0 
Assets held for sale12.7 
Property, plant, and equipment200.5 
Right-of-use operating leases22.7 
Goodwill162.7 
Intangible assets110.1 
Other assets7.1 
Total Assets$665.0 
Liabilities
Accounts payable and accrued expenses$93.2 
Current lease obligations – operating3.9 
Liabilities held for sale10.0 
Long-term lease obligations – operating19.0 
Other long-term liabilities10.0 
Deferred income taxes25.3 
Total Liabilities$161.3 
Net Assets and Liabilities$503.7 

The following table summarizes the acquired identified intangible assets and weighted average useful lives:
CategoryWeighted-average useful lifeFair Value
Software3 years$5.6 
Customer lists and other12 years47.2 
Acquired technology18 years16.5 
Trademarks and trade names – Definite-lived17 years3.8 
Trademarks and trade names – Indefinite-livedIndefinite-lived37.0 
Total intangible assets$110.1 
Schedule of Assets and Liabilities Disposed Of in the Condensed Consolidated Balance Sheets
The assets and liabilities of Lamex which were disposed of in conjunction with the sale are as follows:
As of
July 20, 2022
Assets:
Cash and cash equivalents$5.5 
Receivables20.1 
Allowance for doubtful accounts(0.5)
Inventories, net6.9 
Prepaid expenses and other current assets6.4 
Buildings6.2 
Machinery and equipment25.9 
Accumulated depreciation(17.0)
Right-of-use - Operating Leases5.8 
Goodwill and Other Intangible Assets, net10.9 
Total Assets$70.4 
Liabilities:
Accounts payable and accrued expenses$36.1 
Current lease obligations - Operating1.7 
Long-Term Lease Obligations - Operating4.9 
Deferred Income Taxes0.1 
Total Liabilities$42.7 
Schedule of Business Acquisition, Pro Forma Information Poppin was determined not to require discontinued operations presentation as this entity is not material to the consolidated results of the periods presented.
2023
Net sales$361.4 
Net loss$(3.0)
This pro forma information is not necessarily reflective of what the Corporation’s results would have been had the acquisition occurred on the date indicated, nor is it indicative of future results.
20232022
Net sales$2,698.1 $3,058.0 
Net income$82.8 $52.1