HNI Corp. (HNI) financial statements: income statement, balance sheet and cash flow
HNI Corp.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Jan 3, 2026 · FY), HNI Corp. reported revenue of $2.8B (+12.4% year on year) and net income of $54.2M (-61.1% year on year).
Income statement
HNI Corp. income statement, fiscal years
Line item
Jan 3, 2026 · FY
Dec 28, 2024 · FY
Dec 30, 2023 · FY
Dec 31, 2022 · FY
Net sales
$2.8B
$2.5B
$2.4B
$2.4B
Cost of sales
$1.7B
$1.5B
$1.5B
$1.5B
Gross profit
$1.2B
$1.0B
$948.3M
$834.9M
Selling and administrative expenses
$937.0M
$820.7M
$813.2M
$723.4M
Acquisition costs
$94.6M
—
—
—
Restructuring, impairment, and loss on divestiture
$18.5M
—
—
—
Operating income
$126.0M
$206.5M
$90.3M
$155.2M
Interest expense, net
$35.6M
$27.2M
$25.5M
$8.8M
Other non-operating income, net
$400.0K
—
—
—
Income before income taxes
$90.8M
$179.3M
$64.8M
$146.4M
Income tax expense
$36.5M
$39.8M
$15.6M
$22.5M
Net income
$54.2M
$139.5M
$49.2M
$123.9M
Less: Net income attributable to non-controlling interest
$0
$0
$0
$0
Net income attributable to HNI Corporation
$54.2M
$139.5M
$49.2M
$123.9M
Average number of common shares outstanding – basic (in shares)
47.9M
47.4M
44.5M
41.7M
Net income attributable to HNI Corporation per common share – basic (in dollars per share)
$1.13
$2.95
$1.11
$2.97
Average number of common shares outstanding - diluted (in shares)
48.9M
48.5M
45.4M
42.2M
Net income attributable to HNI Corporation per common share – diluted (in dollars per share)
$1.11
$2.88
$1.09
$2.94
Foreign currency translation adjustments
$8.5M
($400.0K)
($200.0K)
($5.7M)
Change in unrealized gains (losses) on marketable securities, net of tax
$200.0K
$100.0K
$400.0K
($700.0K)
Change in pension and post-retirement liability, net of tax
$3.4M
$1.1M
$0
$4.3M
Change in derivative financial instruments, net of tax
($400.0K)
$1.6M
($2.8M)
$800.0K
Other comprehensive income (loss), net of tax
$11.8M
$2.4M
($2.6M)
($1.3M)
Comprehensive income
$66.0M
$141.9M
$46.6M
$122.6M
Less: Comprehensive income (loss) attributable to non-controlling interest
$0
$0
$0
$0
Comprehensive income attributable to HNI Corporation
$66.0M
$141.9M
$46.6M
$122.6M
HNI Corp. income statement, quarters
Line item
Jul 4, 2026 · Q2
Apr 4, 2026 · Q1
Sep 27, 2025 · Q3
Jun 28, 2025 · Q2
Net sales
$1.5B
$1.3B
$683.8M
$667.1M
Cost of sales
$825.2M
$847.6M
$395.7M
$380.9M
Gross profit
$647.2M
$499.9M
$288.1M
$286.2M
Selling and administrative expenses
$533.0M
$514.8M
$222.7M
$215.5M
Acquisition and related costs
$4.2M
$3.5M
—
—
Restructuring, impairment, and loss on divestiture
$17.9M
$18.0M
$800.0K
$2.5M
Operating income
$92.1M
($36.4M)
$64.6M
$68.2M
Other non-operating income, net
$2.8M
$1.5M
—
—
Interest expense, net
$23.7M
$20.7M
$7.2M
$6.1M
Income before income taxes
$71.2M
($55.6M)
$57.4M
$62.0M
Income taxes
$20.1M
($16.8M)
$16.2M
$13.8M
Net income
$51.1M
($38.8M)
$41.2M
$48.3M
Less: Net income attributable to non-controlling interest
$0
$0
$0
$0
Net income attributable to HNI Corporation
$51.1M
($38.8M)
$41.2M
$48.2M
Average number of common shares outstanding – basic (in shares)
72.1M
71.6M
45.8M
46.2M
Net income attributable to HNI Corporation per common share – basic (in dollars per share)
$0.70
-$0.55
$0.90
$1.04
Average number of common shares outstanding – diluted (in shares)
72.1M
71.6M
46.7M
47.1M
Net income attributable to HNI Corporation per common share – diluted (in dollars per share)
$0.70
-$0.55
$0.88
$1.02
Foreign currency translation adjustments
($2.7M)
($4.5M)
$100.0K
$6.4M
Change in unrealized gains (losses) on marketable securities, net of tax
($100.0K)
($100.0K)
$0
$100.0K
Change in pension and post-retirement liability, net of tax
$0
—
$0
$2.0M
Change in derivative financial instruments, net of tax
$400.0K
$600.0K
$200.0K
($100.0K)
Other comprehensive income (loss), net of tax
($2.4M)
($4.0M)
$300.0K
$8.4M
Comprehensive income
$48.7M
($42.8M)
$41.5M
$56.7M
Less: Comprehensive income attributable to non-controlling interest
$0
$0
$0
$0
Comprehensive income attributable to HNI Corporation
$48.7M
($42.8M)
$41.5M
$56.6M
Balance sheet
HNI Corp. balance sheet, fiscal years
Line item
Jan 3, 2026 · FY
Dec 28, 2024 · FY
Dec 30, 2023 · FY
Dec 31, 2022 · FY
Cash and cash equivalents
$209.2M
$22.5M
$28.9M
$17.4M
Short-term investments
$6.5M
$6.4M
$5.6M
$2.0M
Receivables
$571.1M
$248.4M
$247.1M
$218.4M
Allowance for credit losses
($1.1M)
($2.0M)
($3.5M)
($3.2M)
Inventories, net
$475.3M
$194.3M
$196.6M
$180.1M
Prepaid expenses and other current assets
$150.9M
$54.9M
$61.3M
$54.4M
Total Current Assets
$1.4B
$524.5M
$535.9M
$469.2M
Land and land improvements
$99.1M
$58.5M
$58.9M
$30.8M
Buildings
$529.1M
$407.9M
$406.8M
$275.4M
Machinery and equipment
$1.1B
$685.9M
$705.8M
$602.6M
Construction in progress
$58.5M
$25.9M
$22.2M
$34.2M
Property plant and equipment
$1.8B
$1.2B
$1.2B
$942.9M
Less accumulated depreciation
($678.0M)
($648.6M)
($638.5M)
($590.3M)
Net Property, Plant, and Equipment
$1.1B
$529.6M
$555.2M
$352.5M
Right-of-use - Finance Leases
$11.3M
$14.3M
$12.2M
$11.4M
Right-of-use - Operating Leases
$274.5M
$121.8M
$115.2M
$88.4M
Goodwill and Other Intangible Assets, net
$1.7B
$624.3M
$651.9M
$439.8M
Other Assets
$347.6M
$60.7M
$58.4M
$53.2M
Total Assets
$4.9B
$1.9B
$1.9B
$1.4B
Accounts payable and accrued expenses
$1.0B
$391.2M
$418.7M
$367.7M
Current maturities of debt
$16.2M
$50.3M
$7.5M
$1.3M
Current maturities of other long-term obligations
$38.2M
$2.3M
$7.3M
$2.1M
Current lease obligations - Finance
$4.2M
$5.6M
$4.4M
$3.7M
Current lease obligations - Operating
$64.4M
$28.1M
$25.9M
$20.3M
Total Current Liabilities
$1.1B
$477.5M
$463.7M
$395.1M
Long-Term Debt
$1.3B
$294.3M
$428.3M
$188.8M
Long-Term Lease Obligations - Finance
$7.3M
$8.9M
$7.9M
$7.7M
Long-Term Lease Obligations - Operating
$224.6M
$109.6M
$104.0M
$78.9M
Other Long-Term Liabilities
$220.4M
$72.9M
$78.0M
$66.3M
Deferred Income Taxes
$180.9M
$71.6M
$85.1M
$61.0M
Total Liabilities
$3.0B
$1.0B
—
—
Preferred stock - $1 par value, authorized 2.0 million shares, no shares outstanding
0
0
0
0
Common stock - $1 par value, authorized 200.0 million shares, outstanding: January 3, 2026- 71.3 million shares; December 28, 2024 - 47.2 million shares
71.3M
47.2M
46.9M
41.4M
Additional paid-in capital
$1.2B
$201.5M
$201.6M
$49.1M
Retained earnings
$590.4M
$599.6M
$523.6M
$534.0M
Accumulated other comprehensive income (loss)
$3.5M
($8.3M)
($10.6M)
($8.0M)
Total HNI Corporation shareholders’ equity
$1.8B
$840.1M
$761.4M
$616.5M
Non-controlling interest
$0
$300.0K
$300.0K
$300.0K
Total Equity
$1.8B
$840.4M
$761.8M
$616.8M
Total Liabilities and Equity
$4.9B
$1.9B
$1.9B
$1.4B
HNI Corp. balance sheet, quarters
Line item
Jul 4, 2026
Apr 4, 2026
Sep 27, 2025
Jun 28, 2025
Cash and cash equivalents
$105.0M
$71.4M
$20.7M
$32.0M
Short-term investments
$3.2M
$6.8M
$7.4M
$6.2M
Receivables
$630.9M
$552.8M
$257.4M
$292.4M
Allowance for credit losses
($1.5M)
($2.0M)
($1.8M)
($1.7M)
Inventories, net
$498.8M
$490.5M
$194.5M
$216.5M
Prepaid expenses and other current assets
$174.3M
$177.3M
$64.6M
$52.3M
Total Current Assets
$1.4B
$1.3B
$542.9M
$597.6M
Land and land improvements
$84.1M
$97.7M
$57.7M
$56.9M
Buildings
$533.6M
$529.4M
$418.6M
$411.8M
Machinery and equipment
$1.1B
$1.1B
$665.1M
$664.1M
Construction in progress
$55.1M
$53.7M
$31.2M
$29.9M
Property plant and equipment
$1.8B
$1.8B
$1.2B
$1.2B
Less accumulated depreciation
($737.8M)
($706.6M)
($659.2M)
($647.6M)
Net Property, Plant, and Equipment
$1.0B
$1.1B
$513.4M
$515.0M
Right-of-use - Finance Leases
$11.8M
$10.9M
$12.7M
$12.7M
Right-of-use - Operating Leases
$246.0M
$259.7M
$106.0M
$114.2M
Goodwill and Other Intangible Assets, net
$1.8B
$1.8B
$603.9M
$610.6M
Other Assets
$331.9M
$333.8M
$64.1M
$61.9M
Total Assets
$4.8B
$4.8B
$1.8B
$1.9B
Accounts payable and accrued expenses
$914.9M
$820.5M
$371.5M
$370.8M
Current maturities of debt
$18.1M
$18.3M
$0
$0
Current maturities of other long-term obligations
$32.7M
$28.7M
$3.0M
$3.1M
Current lease obligations - Finance
$4.2M
$4.0M
$4.8M
$4.9M
Current lease obligations - Operating
$65.6M
$64.7M
$29.6M
$31.8M
Total Current Liabilities
$1.0B
$936.1M
$409.0M
$410.7M
Long-Term Debt
$1.4B
$1.4B
$324.2M
$444.4M
Long-Term Lease Obligations - Finance
$7.9M
$7.1M
$8.2M
$8.0M
Long-Term Lease Obligations - Operating
$191.2M
$206.7M
$92.6M
$98.5M
Other Long-Term Liabilities
$190.7M
$195.9M
$75.1M
$74.6M
Deferred Income Taxes
$230.0M
$226.3M
$98.1M
$64.8M
Total Liabilities
$3.0B
$3.0B
$1.0B
$1.1B
HNI Corporation shareholders’ equity
$1.8B
$1.8B
$835.9M
$811.0M
Total Equity
$1.8B
$1.8B
$835.9M
$811.0M
Total Liabilities and Equity
$4.8B
$4.8B
$1.8B
$1.9B
Cash flow statement
HNI Corp. cash flow statement, fiscal years
Line item
Jan 3, 2026 · FY
Dec 28, 2024 · FY
Dec 30, 2023 · FY
Dec 31, 2022 · FY
Net income
$54.2M
$139.5M
$49.2M
$123.9M
Depreciation and amortization
$107.1M
$107.8M
$94.9M
$84.2M
Other post-retirement and post-employment benefits
$1.9M
$1.1M
$1.1M
$1.3M
Stock-based compensation
$24.7M
$17.4M
$16.5M
$9.0M
Deferred income taxes
$33.7M
($14.1M)
($600.0K)
($15.3M)
Asset impairment charges
$7.7M
$0
—
—
Loss on sale of subsidiary
$6.6M
$0
$0
($50.4M)
Other – net
$14.3M
$5.5M
$5.1M
$2.7M
Net increase (decrease) in cash from operating assets and liabilities
$23.9M
($19.1M)
$76.5M
($72.7M)
Decrease in other liabilities
$2.1M
($11.4M)
($6.6M)
($7.7M)
Net cash flows from (to) operating activities
$276.3M
$226.7M
$267.5M
$81.2M
Capital expenditures
($65.8M)
($50.6M)
($78.1M)
($60.0M)
Acquisition spending, net of cash acquired
($390.3M)
$0
($369.7M)
($11.4M)
Capitalized software
($2.0M)
($2.3M)
($1.0M)
($8.4M)
Purchase of investments
($2.8M)
($3.2M)
($5.7M)
($2.8M)
Sales or maturities of investments
$4.8M
$4.7M
$5.4M
$2.3M
Net proceeds from sale of subsidiary
$8.1M
$0
$2.7M
$69.5M
Other – net
$4.1M
$400.0K
$1.6M
$0
Net cash flows from (to) investing activities
($443.9M)
($51.0M)
($444.8M)
($10.7M)
Payments of debt
($782.5M)
($420.6M)
($436.0M)
($401.6M)
Proceeds from debt
$1.3B
$328.2M
$684.0M
$413.9M
Dividends paid
($63.1M)
($63.6M)
($58.5M)
($53.2M)
Purchase of HNI Corporation common stock
($83.6M)
($65.8M)
($300.0K)
($65.2M)
Proceeds from sales of HNI Corporation common stock
$3.8M
$51.2M
$2.3M
$4.7M
Debt-issuance costs
($14.6M)
—
—
—
Withholding related to net share settlements of equity based awards
($13.3M)
—
—
—
Proceeds from COLI
$32.0M
—
—
—
Other – net
($12.5M)
($11.6M)
($2.8M)
($4.0M)
Net cash flows from (to) financing activities
$363.1M
($182.2M)
$188.8M
($105.4M)
Net increase (decrease) in cash and cash equivalents
$195.4M
($6.4M)
$11.5M
($34.8M)
Cash, cash equivalents, and restricted cash at beginning of period
$22.5M
$28.9M
$17.4M
$52.3M
Cash, cash equivalents, and restricted cash at end of period
$217.9M
—
—
—
HNI Corp. cash flow statement, quarters
Line item
Jul 4, 2026 · YTD
Apr 4, 2026 · Q1
Sep 27, 2025 · YTD
Jun 28, 2025 · YTD
Net income
$12.3M
($38.8M)
$103.4M
$62.2M
Depreciation and amortization
$141.4M
$75.2M
$75.4M
$50.5M
Other post-retirement and post-employment benefits
$1.7M
$900.0K
$800.0K
$500.0K
Stock-based compensation
$27.7M
$18.1M
$13.3M
$10.1M
Deferred income taxes
$10.1M
$9.4M
$25.9M
($7.3M)
Asset impairment charges
$15.2M
$9.5M
—
—
Loss on sale of subsidiary
$0
—
$6.6M
$6.4M
Inventory step-up
$31.3M
$31.3M
—
—
Other – net
$900.0K
($600.0K)
$4.9M
$2.8M
Receivables
($59.4M)
$19.2M
—
—
Inventories
($26.4M)
($15.6M)
—
—
Prepaid Expenses and Other
($55.4M)
($60.7M)
—
—
Accounts payable and accrued expenses
($84.5M)
($184.8M)
—
—
Income taxes payable
($3.1M)
($2.4M)
—
—
Increase (decrease) in other liabilities
($43.8M)
($32.4M)
$2.4M
$1.6M
Net cash flows from (to) operating activities
($32.0M)
($171.8M)
$198.9M
$43.7M
Capital expenditures
($62.4M)
($34.0M)
($49.6M)
($30.3M)
Capitalized software
($2.3M)
($1.7M)
($1.3M)
($900.0K)
Purchase of investments
($2.8M)
($2.7M)
($2.1M)
($1.5M)
Sales or maturities of investments
$6.2M
$1.4M
$3.2M
$2.3M
Net proceeds from sale of subsidiary
$0
—
$8.1M
$8.5M
Investment in Unconsolidated Affiliate Purchases
($46.4M)
($45.7M)
—
—
Net proceeds from sale of subsidiary
$8.8M
—
—
—
Proceeds from sale of property, plant, and equipment
$18.5M
$1.6M
$3.5M
$3.5M
Other
$700.0K
—
—
—
Net cash flows from (to) investing activities
($79.8M)
($73.1M)
($38.1M)
($18.4M)
Payments of debt
($236.7M)
($37.4M)
($377.4M)
($193.0M)
Proceeds from debt
$315.4M
$188.0M
$357.1M
$293.0M
Dividends paid
($52.1M)
($26.6M)
($47.5M)
($31.9M)
Purchase of HNI Corporation common stock
$0
$0
($83.6M)
($79.8M)
Proceeds from sales of HNI Corporation common stock
$1.4M
$700.0K
$3.3M
$1.8M
Withholding related to net share settlements of equity based awards
($20.5M)
($18.0M)
—
—
Other – net
($1.2M)
$500.0K
($14.6M)
($6.1M)
Net cash flows from (to) financing activities
$6.4M
$107.3M
($162.6M)
($15.8M)
Net increase (decrease) in cash and cash equivalents
($105.3M)
($137.6M)
($1.8M)
$9.5M
Cash, cash equivalents, and restricted cash at beginning of period
$217.9M
$217.9M
$22.5M
$22.5M
Cash, cash equivalents, and restricted cash at end of period