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Revenue from Contracts with Customers | 3 Months Ended
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Mar. 29, 2025
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | Revenue from Contracts with Customers Disaggregation of Revenue Revenue from contracts with customers disaggregated by product category is as follows:
|  |  | Three Months Ended
|  |  |  |  | March 29, 2025 |  | March 30, 2024
Systems, storage, and tables |  |  |  |  | $ | 275.2 |  |  | $ | 279.5 |
Seating |  |  |  |  | 133.5 |  |  | 126.0 |
Other(1) |  |  |  |  | 32.3 |  |  | 34.2 |
Total workplace furnishings |  |  |  |  | 441.1 |  |  | 439.8 |
Residential building products |  |  |  |  | 158.7 |  |  | 148.2 |
Net sales |  |  |  |  | $ | 599.8 |  |  | $ | 588.0 |
(1) The other category consists of education-specific furnishings, architectural products, workspace accessories, and miscellaneous product lines and services. Sales by product category are subject to similar economic factors and market conditions. See "Note 14. Reportable Segment Information" for further information about operating segments. Contract Assets and Contract Liabilities In addition to trade receivables, the Corporation has contract assets consisting of funds paid up-front to certain workplace furnishings dealers in exchange for their multi-year commitment to market and sell the Corporation’s products. These contract assets are amortized over the term of the contracts and recognized as a reduction of revenue. The Corporation has contract liabilities consisting of customer deposits and rebate and marketing program liabilities. Contract assets and contract liabilities were as follows:
| March 29, 2025 |  | December 28, 2024
Trade receivables (1) | $ | 236.4 |  |  | $ | 248.4 |
Contract assets (current) (2) | $ | 2.8 |  |  | $ | 3.2 |
Contract assets (long-term) (3) | $ | 27.2 |  |  | $ | 26.2 |
Contract liabilities - Customer deposits (4) | $ | 34.0 |  |  | $ | 42.1 |
Contract liabilities - Accrued rebate and marketing programs (4) | $ | 22.0 |  |  | $ | 25.4 |
Balances as of March 29, 2025 in the table above exclude amounts classified as held for sale, see "Note 3. Held for Sale" for further information. The decrease in customer deposits compared to the prior year end was driven by project fulfillment timing in the hospitality customer channel. 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" Contract liabilities for customer deposits paid to the Corporation prior to the satisfaction of performance obligations are recognized as revenue upon completion of the performance obligations. The contract liability balance related to customer deposits was $42.1 million as of December 28, 2024, of which $30.4 million was recognized as revenue in the three-month period ended March 29, 2025.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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