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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 28, 2024
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 28, 2024 |  | December 30, 2023
| Cash and cash equivalents |  | Short-term investments |  | Other Assets |  | Cash and cash equivalents |  | Short-term investments |  | Other Assets
Debt securities | $ | — |  |  | $ | 2.0 |  |  | $ | 11.9 |  |  | $ | — |  |  | $ | 1.2 |  |  | $ | 12.3 |
Equity investments | — |  |  | 4.4 |  |  | 7.2 |  |  | — |  |  | 4.3 |  |  | 7.0 |
Cash and money market accounts | 22.5 |  |  | — |  |  | — |  |  | 28.9 |  |  | — |  |  | — |
Total | $ | 22.5 |  |  | $ | 6.4 |  |  | $ | 19.1 |  |  | $ | 28.9 |  |  | $ | 5.6 |  |  | $ | 19.3 |
The following table summarizes the amortized cost basis of the debt securities:
| December 28, 2024 |  | December 30, 2023
Amortized cost basis of debt securities | $ | 14.1 |  |  | $ | 13.8 |
Schedule of Allowance for Doubtful Accounts | The following table summarizes the change in the allowance for doubtful accounts:
|  | Balance at beginning of period |  | Current provision and adjustments |  | Amounts written off |  | Recoveries and other |  | Acquisition and divestiture of businesses |  | Balance at end of period
Year ended December 28, 2024 |  | $ | 3.5 |  |  | $ | (0.7) |  |  | $ | (0.9) |  |  | $ | 0.1 |  |  | $ | — |  |  | $ | 2.0 |
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 |
Schedule of Inventories Included in Consolidated Balance Sheet | Inventories included in the Consolidated Balance Sheets consisted of the following:
| December 28, 2024 |  | December 30, 2023
Finished products, net | $ | 122.4 |  |  | $ | 112.9 |
Materials and work in process, net | 119.5 |  |  | 128.2 |
LIFO allowance | (47.5) |  |  | (44.5) |
Total inventories, net | $ | 194.3 |  |  | $ | 196.6 |
Inventory valued by the LIFO costing method | 91 | % |  | 91 | %
Schedule of Property, Plant and Equipment | Total depreciation expense was as follows:
| 2024 |  | 2023 |  | 2022
Depreciation expense | $ | 76.9 |  |  | $ | 64.7 |  |  | $ | 53.3 |
Schedule of Accounts Payable and Accrued Liabilities | Accounts payable and accrued expenses are reflected in the Consolidated Balance Sheets and were as follows:
| December 28, 2024 |  | December 30, 2023
Trade accounts payable | $ | 190.4 |  |  | $ | 193.7 |
Compensation | 50.8 |  |  | 65.1 |
Profit sharing and retirement | 9.1 |  |  | 10.5 |
Accrued marketing programs | 25.4 |  |  | 31.4 |
Accrued freight | 11.0 |  |  | 12.9 |
Customer deposits | 42.1 |  |  | 35.6 |
Other accrued expenses | 62.4 |  |  | 69.4 |
Total accounts payable and accrued expenses | $ | 391.2 |  |  | $ | 418.7 |
Schedule of Product Warranties | Activity associated with warranty obligations was as follows:
| 2024 |  | 2023 |  | 2022
Balance at beginning of period | $ | 18.0 |  |  | $ | 14.8 |  |  | $ | 16.0 |
Accruals related to acquisitions | — |  |  | 3.5 |  |  | — |
Accruals for warranties issued | 13.0 |  |  | 11.6 |  |  | 9.3 |
Settlements and other | (13.6) |  |  | (11.9) |  |  | (10.5) |
Balance at end of period | $ | 17.5 |  |  | $ | 18.0 |  |  | $ | 14.8 |
The following table summarizes when these estimated settlements are expected to be paid:
| December 28, 2024 |  | December 30, 2023
Current - in the next twelve months | $ | 6.6 |  |  | $ | 6.0 |
Long-term - beyond one year | 10.9 |  |  | 12.0 |
Total | $ | 17.5 |  |  | $ | 18.0 |
Schedule of Research and Development Costs | The amounts charged against income and recorded in "Selling and administrative expenses" on the Consolidated Statements of Comprehensive Income were as follows:
| 2024 |  | 2023 |  | 2022
Research and development costs | $ | 53.6 |  |  | $ | 47.2 |  |  | $ | 47.8 |
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:
| 2024 |  | 2023 |  | 2022
Freight expense | $ | 135.0 |  |  | $ | 137.8 |  |  | $ | 142.0 |
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"):
| 2024 |  | 2023 |  | 2022
Numerator: |  |  |  |  |
Numerator for both basic and diluted EPS attributable to HNI Corporation net income | $ | 139.5 |  |  | $ | 49.2 |  |  | $ | 123.9 |
Denominators: |  |  |  |  |
Denominator for basic EPS weighted-average common shares outstanding | 47.4 |  |  | 44.5 |  |  | 41.7 |
Potentially dilutive shares from stock-based compensation plans | 1.1 |  |  | 0.8 |  |  | 0.5 |
Denominator for diluted EPS | 48.5 |  |  | 45.4 |  |  | 42.2 |
Earnings per share – basic | $ | 2.95 |  |  | $ | 1.11 |  |  | $ | 2.97 |
Earnings per share – diluted | $ | 2.88 |  |  | $ | 1.09 |  |  | $ | 2.94 |
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:
| 2024 |  | 2023 |  | 2022
Common stock equivalents excluded because their inclusion would be anti-dilutive | 0.4 |  |  | 2.1 |  |  | 2.0 |
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 28, 2024 |  | December 30, 2023
Current - "Accounts payable and accrued expenses" | $ | 5.4 |  |  | $ | 5.9 |
Non-current - "Other Long-Term Liabilities" | 18.0 |  |  | 18.8 |
Total general, auto, product, and workers’ compensation liabilities | $ | 23.4 |  |  | $ | 24.8 |

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