Earnings Per Share

6 Months Ended

Jun. 29, 2024

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The following table reconciles the numerators and denominators used in the calculation of basic and diluted earnings per share ("EPS"):

	Three Months Ended				Six Months Ended
	June 29, 2024		July 1, 2023		June 29, 2024		July 1, 2023
Numerator:
Numerator for both basic and diluted EPS attributable to HNI Corporation net income (loss)	$	36.0	$	(12.8)	$	53.7	$	(11.3)
Denominators:
Denominator for basic EPS weighted-average common shares outstanding	47.2		43.3		47.1		42.4
Potentially dilutive shares from stock-based compensation plans	1.0		—		1.1		—
Denominator for diluted EPS	48.2		43.3		48.2		42.4
Earnings per share – basic	$	0.76	$	(0.30)	$	1.14	$	(0.27)
Earnings per share – diluted	$	0.75	$	(0.30)	$	1.11	$	(0.27)

The year-over-year increase in shares outstanding is primarily due to the issuance of 4.7 million shares in June 2023 as part of the consideration to acquire Kimball International. See "Note 3. Acquisition and Divestitures" for further information.

The weighted-average common stock equivalents presented above do not include the effect of the common stock equivalents in the table below because their inclusion would be anti-dilutive:

	Three Months Ended		Six Months Ended
	June 29, 2024	July 1, 2023	June 29, 2024	July 1, 2023
Common stock equivalents excluded because their inclusion would be anti-dilutive	0.8	3.0	0.8	2.8