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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Jan. 02, 2021
Dec. 28, 2019
Dec. 29, 2018
Net Cash Flows From (To) Operating Activities:      
Net income $ 41,919 $ 110,503 $ 93,326
Non-cash items included in net income:      
Depreciation and amortization 77,683 77,427 74,788
Other post-retirement and post-employment benefits 1,472 1,475 1,767
Stock-based compensation 7,827 6,830 7,317
Reduction in carrying amount of right-of-use assets 22,997 22,936 0
Deferred income taxes (12,005) 6,750 3,197
Impairment of goodwill and intangible assets 39,580 0 12,168
Other – net 3,064 5,607 2,360
Net increase (decrease) in operating assets and liabilities, net of divestitures 24,204 (3,280) (10,729)
Increase (decrease) in other liabilities 7,728 (8,868) 2,236
Net cash flows from (to) operating activities 214,469 219,380 186,430
Net Cash Flows From (To) Investing Activities:      
Capital expenditures (32,296) (60,826) (55,648)
Proceeds from sale of property, plant, and equipment 299 327 23,767
Acquisition spending, net of cash acquired (58,258) 0 (2,850)
Capitalized software (9,506) (6,059) (8,048)
Purchase of investments (4,222) (6,702) (2,676)
Sales or maturities of investments 3,611 4,845 3,100
Other – net 0 5,520 1,135
Net cash flows from (to) investing activities (100,372) (62,895) (41,220)
Net Cash Flows From (To) Financing Activities:      
Payments of long-term debt (83,179) (215,934) (348,987)
Proceeds from long-term debt 83,309 141,035 323,075
Dividends paid (52,096) (52,232) (51,085)
Purchase of HNI Corporation common stock (6,764) (83,887) (30,452)
Proceeds from sales of HNI Corporation common stock 8,064 30,473 19,606
Other – net 616 (686) (3,896)
Net cash flows from (to) financing activities (50,050) (181,231) (91,739)
Net increase (decrease) in cash and cash equivalents 64,047 (24,746) 53,471
Cash and cash equivalents at beginning of period 52,073 76,819 23,348
Cash and cash equivalents at end of period $ 116,120 $ 52,073 $ 76,819