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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 26, 2020
Sep. 28, 2019
Net Cash Flows From (To) Operating Activities:    
Net income $ 19,346 $ 62,908
Non-cash items included in net income:    
Depreciation and amortization 57,917 57,838
Other post-retirement and post-employment benefits 1,104 1,106
Stock-based compensation 6,746 5,408
Reduction in carrying amount of right-of-use assets 16,965 17,252
Deferred income taxes (3,730) 4,798
Impairment of goodwill and intangible assets 32,661 0
Other – net 815 4,473
Net increase (decrease) in operating assets and liabilities, net of divestitures 13,316 (28,359)
Increase (decrease) in other liabilities (1,779) (9,802)
Net cash flows from (to) operating activities 143,361 115,622
Net Cash Flows From (To) Investing Activities:    
Capital expenditures (24,751) (46,093)
Proceeds from sale of property, plant, and equipment 81 247
Capitalized software (7,250) (4,098)
Acquisition spending, net of cash acquired (10,857) 0
Purchase of investments (3,922) (6,140)
Sales or maturities of investments 3,246 3,889
Other – net 0 2,327
Net cash flows from (to) investing activities (43,453) (49,868)
Net Cash Flows From (To) Financing Activities:    
Payments of long-term debt (82,828) (125,039)
Proceeds from long-term debt 82,119 115,775
Dividends paid (39,060) (39,164)
Purchase of HNI Corporation common stock (6,764) (65,106)
Proceeds from sales of HNI Corporation common stock 2,210 22,338
Other – net 1,727 1,636
Net cash flows from (to) financing activities (42,596) (89,560)
Net increase (decrease) in cash and cash equivalents 57,312 (23,806)
Cash and cash equivalents at beginning of period 52,073 76,819
Cash and cash equivalents at end of period $ 109,385 $ 53,013