XML 21 R11.htm IDEA: XBRL DOCUMENT
v3.25.3

Goodwill and Other Intangible Assets | 9 Months Ended
--- | ---
Sep. 27, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill and other intangible assets included in the Condensed Consolidated Balance Sheets consisted of the following:
| September 27, 2025 |  | December 28, 2024
Goodwill, net | $ | 442.1 |  |  | $ | 442.1 |
Definite-lived intangible assets, net | 112.7 |  |  | 133.1 |
Indefinite-lived intangible assets | 49.1 |  |  | 49.1 |
Total goodwill and other intangible assets, net | $ | 603.9 |  |  | $ | 624.3 |
Goodwill The activity in the carrying amount of goodwill, by reporting segment, was as follows:
| Workplace Furnishings |  | Residential Building Products |  | Total
Balance as of December 28, 2024 |  |  |  |  |
Goodwill | $ | 298.3 |  |  | $ | 222.4 |  |  | $ | 520.7 |
Accumulated impairment losses | (78.5) |  |  | (0.1) |  |  | (78.6) |
Net goodwill balance as of December 28, 2024 | 219.8 |  |  | 222.3 |  |  | 442.1 |
Goodwill derecognized | (13.9) |  |  | — |  |  | (13.9) |
Accumulated impairment losses derecognized | 13.9 |  |  | — |  |  | 13.9 |
Balance as of September 27, 2025 |  |  |  |  |
Goodwill | 284.4 |  |  | 222.4 |  |  | 506.8 |
Accumulated impairment losses | (64.6) |  |  | (0.1) |  |  | (64.7) |
Net goodwill balance as of September 27, 2025 | $ | 219.8 |  |  | $ | 222.3 |  |  | $ | 442.1 |
Goodwill and accumulated impairment losses derecognized in the current year relate to the sale of the HNI India business during the second quarter of 2025. See "Note 3. Acquisitions and Divestitures" for further information. Definite-lived intangible assets The table below summarizes amortizable definite-lived intangible assets, which are reflected in "Goodwill and Other Intangible Assets, net" in the Condensed Consolidated Balance Sheets:
| September 27, 2025 |  | December 28, 2024
| Gross |  | Accumulated Amortization |  | Net |  | Gross |  | Accumulated Amortization |  | Net
Software | $ | 188.5 |  |  | $ | 163.0 |  |  | $ | 25.5 |  |  | $ | 189.3 |  |  | $ | 151.3 |  |  | $ | 38.0 |
Trademarks and trade names | 17.9 |  |  | 9.3 |  |  | 8.6 |  |  | 17.9 |  |  | 8.3 |  |  | 9.5 |
Customer lists and other | 139.7 |  |  | 61.2 |  |  | 78.6 |  |  | 139.7 |  |  | 54.3 |  |  | 85.5 |
Net definite-lived intangible assets | $ | 346.1 |  |  | $ | 233.4 |  |  | $ | 112.7 |  |  | $ | 346.9 |  |  | $ | 213.9 |  |  | $ | 133.1 |
Amortization expense is reflected in "Selling and administrative expenses" in the Condensed Consolidated Statements of Comprehensive Income and was as follows:
| Three Months Ended |  | Nine Months Ended
| September 27, 2025 |  | September 28, 2024 |  | September 27, 2025 |  | September 28, 2024
Capitalized software | $ | 4.5 |  |  | $ | 5.1 |  |  | $ | 13.9 |  |  | $ | 15.5 |
Other definite-lived intangibles | $ | 2.6 |  |  | $ | 2.6 |  |  | $ | 7.8 |  |  | $ | 7.9 |
The occurrence of events such as acquisitions, dispositions, or impairments may impact future amortization expense. Without giving effect to the Steelcase Acquisition described in "Note 3. Acquisitions and Divestitures," over the next several years, amortization expense is expected to decline due primarily to the completion of the amortization of the Corporation's Business Systems Transformation investment. Based on the current amount of intangible assets subject to amortization, the estimated amortization expense for the remainder of 2025 and each of the following four years is as follows:
|  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029
Amortization expense |  | $ | 6.9 |  |  | $ | 23.8 |  |  | $ | 17.5 |  |  | $ | 9.1 |  |  | $ | 8.9 |
Indefinite-lived intangible assets The Corporation also owns certain intangible assets, which are deemed to have indefinite useful lives because they are expected to generate cash flows indefinitely. These indefinite-lived intangible assets are reflected in "Goodwill and Other Intangible Assets, net" in the Condensed Consolidated Balance Sheets:
| September 27, 2025 |  | December 28, 2024
Trademarks and trade names | $ | 49.1 |  |  | $ | 49.1 |
Impairment Analysis The Corporation evaluates its goodwill and indefinite-lived intangible assets for impairment on an annual basis during the fourth quarter, or whenever indicators of impairment exist. The Corporation also evaluates long-lived assets (which include definite-lived intangible assets) for impairment if indicators exist. No impairment triggers were identified that warranted further impairment analysis in the current period.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration