Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 26, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Revenue from contracts with customers disaggregated by product category is as follows (in thousands):

	Three Months Ended				Nine Months Ended
	September 26, 2020		September 28, 2019		September 26, 2020		September 28, 2019
Systems and storage	$	207,549	$	297,934	$	578,601	$	737,984
Seating	127,294		163,353		358,005		411,142
Other	18,518		23,468		63,221		98,652
Total workplace furnishings	353,361		484,755		999,827		1,247,778
Residential building products	153,702		140,631		393,397		383,090
Net sales	$	507,063	$	625,386	$	1,393,224	$	1,630,868

Contract with Customer, Asset and Liability

Contract assets and contract liabilities were as follows (in thousands):

	September 26, 2020		December 28, 2019
Trade receivables (1)	$	209,921	$	278,124
Contract assets (current) (2)	$	747	$	857
Contract assets (long-term) (3)	$	2,676	$	2,700
Contract liabilities (4)	$	51,492	$	54,972

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"

Changes in contract asset and contract liability balances during the nine months ended September 26, 2020 were as follows (in thousands):

	Contract assets increase (decrease)		Contract liabilities (increase) decrease
Contract assets recognized	$	358	$	—
Reclassification of contract assets to contra-revenue	(492)		—
Contract liabilities recognized and recorded to contra-revenue as a result of performance obligations satisfied	—		(88,981)
Contract liabilities paid	—		102,985
Cash received in advance and not recognized as revenue	—		(68,840)
Reclassification of cash received in advance to revenue as a result of performance obligations satisfied	—		58,316
Net change	$	(134)	$	3,480

Changes in contract asset and contract liability balances during the nine months ended September 28, 2019 were as follows (in thousands):

	Contract assets increase (decrease)		Contract liabilities (increase) decrease
Contract assets recognized	$	1,313	$	—
Reclassification of contract assets to contra-revenue	(328)		—
Contract liabilities recognized and recorded to contra-revenue as a result of performance obligations satisfied	—		(110,789)
Contract liabilities paid	—		109,592
Cash received in advance and not recognized as revenue	—		(49,962)
Reclassification of cash received in advance to revenue as a result of performance obligations satisfied	—		51,554
Net change	$	985	$	395