XML 19 R9.htm IDEA: XBRL DOCUMENT v3.25.2
Divestitures
 6 Months Ended
Jun. 28, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Divestitures Divestitures
In April 2025, the Corporation closed on the sale of its HNI India business, which was a component of the workplace furnishings segment, to Kokuyo Co., Ltd. The Corporation received $9.5 million in gross cash proceeds, $8.5 million net of cash and transaction fees, which was structured as a stock sale. During the first three months of 2025, the Corporation recognized a $6.4 million pre-tax loss on the sale which is included in "Restructuring, impairment, and loss on divestiture" in the Condensed Consolidated Statements of Comprehensive Income. Included in the loss is a cumulative foreign currency translation loss of $5.7 million that was reclassified from accumulated other comprehensive income, and transaction-related expenses of $0.6 million.

The assets and liabilities of HNI India which were included with the sale are as follows:
As of
April 28, 2025
Assets:
Cash$0.8 
Receivables9.5 
Inventories2.7 
Prepaid expenses and other current assets0.8 
Property, plant & equipment4.0 
Right-of-use operating leases0.4 
Total Assets $18.2 
Liabilities:
Accounts payable and accrued expenses$7.4 
Current maturities of debt0.5 
Lease obligations - operating0.4 
Total Liabilities$8.3