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CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2017
Oct. 01, 2016
Sep. 30, 2017
Oct. 01, 2016
Income Statement [Abstract]        
Net sales $ 599,455 $ 584,629 $ 1,591,607 $ 1,622,204
Cost of sales 378,211 363,075 1,011,888 1,006,019
Gross profit 221,244 221,554 579,719 616,185
Selling and administrative expenses 169,547 169,495 495,897 496,920
Gain on sale and license of assets (6,805) 0 (6,805) 0
Restructuring charges 783 399 3,325 2,057
Operating income 57,719 51,660 87,302 117,208
Interest income 71 80 467 221
Interest expense 1,835 1,091 4,228 4,096
Income before income taxes 55,955 50,649 83,541 113,333
Income taxes 18,624 16,837 27,573 38,652
Net income 37,331 33,812 55,968 74,681
Less: Net income (loss) attributable to non-controlling interest 60 (1) 12 (4)
Net income attributable to HNI Corporation $ 37,271 $ 33,813 $ 55,956 $ 74,685
Average number of common shares outstanding – basic (in shares) 43,682,805 44,547,375 43,970,377 44,412,310
Net income attributable to HNI Corporation per common share – basic (in dollars per share) $ 0.85 $ 0.76 $ 1.27 $ 1.68
Average number of common shares outstanding – diluted (in shares) 44,479,117 45,844,566 45,078,719 45,488,067
Net income attributable to HNI Corporation per common share – diluted (in dollars per share) $ 0.84 $ 0.74 $ 1.24 $ 1.64
Foreign currency translation adjustments $ 320 $ (80) $ 779 $ (678)
Change in unrealized gains (losses) on marketable securities (net of tax) 7 (62) 44 11
Change in derivative financial instruments (net of tax) 38 422 (90) (1,131)
Other comprehensive income (loss) (net of tax) 365 280 733 (1,798)
Comprehensive income 37,696 34,092 56,701 72,883
Less: Comprehensive income (loss) attributable to non-controlling interest 60 (1) 12 (4)
Comprehensive income attributable to HNI Corporation $ 37,636 $ 34,093 $ 56,689 $ 72,887