2009 Q1 Form 10-K Financial Statement

#000004828711000009 Filed on February 25, 2011

View on sec.gov

Income Statement

Concept 2009 Q1 2009 2007 Q4
Revenue $626.0M $2.430B $668.5M
YoY Change 13.34% 0.0% -2.01%
Cost Of Revenue $418.4M $1.612B $425.3M
YoY Change 12.93% 0.0% -6.45%
Gross Profit $207.6M $817.9M $243.2M
YoY Change 14.19% 0.0% 6.85%
Gross Profit Margin 33.16% 33.66% 36.38%
Selling, General & Admin $173.0M $709.6M $185.1M
YoY Change 1.76% 0.01% 5.47%
% of Gross Profit 83.33% 86.77% 76.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.80M $74.90M $17.40M
YoY Change 4.71% 6.7% -0.57%
% of Gross Profit 8.57% 9.16% 7.15%
Operating Expenses $173.0M $709.6M $185.1M
YoY Change 1.76% 0.01% 5.41%
Operating Profit $34.60M $92.36M $58.10M
YoY Change 193.22% -14.71% 11.73%
Interest Expense -$4.100M $16.87M -$3.800M
YoY Change 20.59% -207.42% -15.56%
% of Operating Profit -11.85% 18.26% -6.54%
Other Income/Expense, Net
YoY Change
Pretax Income $19.10M $76.67M $49.40M
YoY Change 151.32% -0.04% 6.01%
Income Tax $5.900M $25.97M $12.00M
% Of Pretax Income 30.89% 33.87% 24.29%
Net Earnings $8.500M $45.45M $37.50M
YoY Change 112.5% -0.11% 22.95%
Net Earnings / Revenue 1.36% 1.87% 5.61%
Basic Earnings Per Share $1.03
Diluted Earnings Per Share $191.4K $0.59 $818.8K
COMMON SHARES
Basic Shares Outstanding 44.31B shares
Diluted Shares Outstanding 44.43B shares

Balance Sheet

Concept 2009 Q1 2009 2007 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $49.30M $93.40M $43.80M
YoY Change 22.94% 89.45% 17.43%
Cash & Equivalents $39.54M $87.40M $33.88M
Short-Term Investments $9.800M $6.000M $9.900M
Other Short-Term Assets $45.90M $38.00M $47.90M
YoY Change -4.97% -17.21% 7.4%
Inventory $84.29M $65.10M $108.5M
Prepaid Expenses
Receivables $238.3M $163.7M $288.8M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $417.8M $360.3M $489.1M
YoY Change -7.45% -13.76% -2.99%
LONG-TERM ASSETS
Property, Plant & Equipment $315.6M $260.1M $305.4M
YoY Change 2.34% -17.59% -1.48%
Goodwill $268.4M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $163.8M $46.10M $81.40M
YoY Change 4.59% -45.7% -49.28%
Total Long-Term Assets $747.8M $634.0M $717.9M
YoY Change -4.34% -15.22% -0.6%
TOTAL ASSETS
Total Short-Term Assets $417.8M $360.3M $489.1M
Total Long-Term Assets $747.8M $634.0M $717.9M
Total Assets $1.166B $994.3M $1.207B
YoY Change -5.48% -14.7% -1.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $313.4M $114.4M $367.3M
YoY Change 6.17% 18.18% 11.68%
Accrued Expenses $185.3M
YoY Change -14.45%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $60.20M $400.0K $17.10M
YoY Change 18.04% -99.34% -42.42%
Total Short-Term Liabilities $373.6M $300.1M $384.5M
YoY Change 7.92% -19.67% 7.25%
LONG-TERM LIABILITIES
Long-Term Debt $267.3M $200.0M $281.1M
YoY Change -6.86% -25.18% -1.71%
Other Long-Term Liabilities $50.40M $50.30M $55.80M
YoY Change -61.47% -0.2% -0.53%
Total Long-Term Liabilities $317.7M $250.3M $336.9M
YoY Change -23.96% -21.21% -1.52%
TOTAL LIABILITIES
Total Short-Term Liabilities $373.6M $300.1M $384.5M
Total Long-Term Liabilities $317.7M $250.3M $336.9M
Total Liabilities $691.3M $575.0M $748.1M
YoY Change -12.7% -19.78% 2.42%
SHAREHOLDERS EQUITY
Retained Earnings $400.4M
YoY Change
Common Stock $50.36M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $448.8M $419.3M $458.9M
YoY Change
Total Liabilities & Shareholders Equity $1.166B $994.3M $1.207B
YoY Change -5.48% -14.7% -1.58%

Cashflow Statement

Concept 2009 Q1 2009 2007 Q4
OPERATING ACTIVITIES
Net Income $8.500M $45.45M $37.50M
YoY Change 112.5% -0.11% 22.95%
Depreciation, Depletion And Amortization $17.80M $74.90M $17.40M
YoY Change 4.71% 6.7% -0.57%
Cash From Operating Activities $69.80M $174.4M $112.9M
YoY Change 3390.0% -0.02% 27.57%
INVESTING ACTIVITIES
Capital Expenditures -$16.90M -$17.60M -$17.20M
YoY Change -3.98% -75.38% 48.28%
Acquisitions
YoY Change
Other Investing Activities $12.50M $0.00 -$38.00M
YoY Change 557.89% -100.0% 2614.29%
Cash From Investing Activities -$4.400M -$131.5M -$55.20M
YoY Change -71.97% 0.02% 321.37%
FINANCING ACTIVITIES
Cash Dividend Paid $38.10M
YoY Change
Common Stock Issuance & Retirement, Net $24.40M
YoY Change -200.01%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -53.00M -$37.19M -51.20M
YoY Change -619.61% -0.04% -37.18%
NET CHANGE
Cash From Operating Activities 69.80M $174.4M 112.9M
Cash From Investing Activities -4.400M -$131.5M -55.20M
Cash From Financing Activities -53.00M -$37.19M -51.20M
Net Change In Cash 12.40M $5.657M 6.500M
YoY Change -454.29% -0.75% -206.56%
FREE CASH FLOW
Cash From Operating Activities $69.80M $174.4M $112.9M
Capital Expenditures -$16.90M -$17.60M -$17.20M
Free Cash Flow $86.70M $192.0M $130.1M
YoY Change 342.35% -21.93% 29.97%

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CY2011 us-gaap Income Taxes Paid
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-0.11
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-0.1
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CY2010Q1 us-gaap Preferred Stock Shares Authorized
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PreferredStockSharesAuthorized
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30027000 USD
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CY2011 dei Document Type
DocumentType
10-K
CY2010 hni Income Loss From Continuing Operations Less Applicable Income Taxes
IncomeLossFromContinuingOperationsLessApplicableIncomeTaxes
-1598000 USD
CY2009 hni Income Loss From Continuing Operations Less Applicable Income Taxes
IncomeLossFromContinuingOperationsLessApplicableIncomeTaxes
50706000 USD
CY2011 hni Income Loss From Continuing Operations Less Applicable Income Taxes
IncomeLossFromContinuingOperationsLessApplicableIncomeTaxes
29681000 USD
CY2009 us-gaap Commitments And Contingencies2009
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CommitmentsAndContingencies2009
CY2011 us-gaap Commitments And Contingencies2009
CommitmentsAndContingencies2009
CY2011 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2011 dei Entity Registrant Name
EntityRegistrantName
HNI CORP
CY2010 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-440000 USD
CY2011 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
-3945000 USD
CY2009 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
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44841000 USD
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45093000 USD
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CY2011 dei Document Period End Date
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2011-01-01
CY2010Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2011Q1 us-gaap Cash And Cash Equivalents At Carrying Value
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CY2007Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2009Q1 us-gaap Liabilities And Stockholders Equity
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2600000 USD
CY2010Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
200000000 USD
CY2011Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
150000000 USD
CY2009Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
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CY2010Q1 us-gaap Deferred Tax Assets Net Current
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20299000 USD
CY2009Q1 us-gaap Deferred Tax Assets Net Current
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CY2011Q1 us-gaap Deferred Tax Assets Net Current
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CY2010Q1 us-gaap Preferred Stock Shares Issued
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0 shares
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CY2011Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2011 us-gaap Adjustments Noncash Items To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities Other
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2025000 USD
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2338000 USD
CY2010 us-gaap Profit Loss
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ProfitLoss
27123000 USD
CY2009 us-gaap Profit Loss
ProfitLoss
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CY2011Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
408456000 USD
CY2010Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2009Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2007Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2010Q1 us-gaap Accounts Payable And Accrued Liabilities Current
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CY2011Q1 us-gaap Accounts Payable And Accrued Liabilities Current
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CY2009Q1 us-gaap Accounts Payable And Accrued Liabilities Current
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CY2009 us-gaap Proceeds From Issuance Of Common Stock
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CY2009Q1 us-gaap Common Stock Shares Outstanding
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CommonStockSharesOutstanding
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CommonStockSharesOutstanding
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CY2010 us-gaap Sales Revenue Net
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SalesRevenueNet
2429631000 USD
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SalesRevenueNet
1686728000 USD
CY2011 us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
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CY2009 us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
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CY2010 us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
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CY2011 us-gaap Payments For Repurchase Of Common Stock
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CY2010 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2009 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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CY2009 hni Income Loss From Continuing Operations Attributable To Hni Corporation Per Common Share Diluted
IncomeLossFromContinuingOperationsAttributableToHniCorporationPerCommonShareDiluted
1.13
CY2011 hni Income Loss From Continuing Operations Attributable To Hni Corporation Per Common Share Diluted
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0.65
CY2010 hni Income Loss From Continuing Operations Attributable To Hni Corporation Per Common Share Diluted
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-0.04
CY2010Q1 us-gaap Common Stock Shares Authorized
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200000000 shares
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CommonStockSharesAuthorized
200000000 shares
CY2009 us-gaap Operating Income Loss
OperatingIncomeLoss
92364000 USD
CY2011 us-gaap Operating Income Loss
OperatingIncomeLoss
57910000 USD
CY2010 us-gaap Operating Income Loss
OperatingIncomeLoss
8582000 USD
CY2011 us-gaap Depreciation And Amortization
DepreciationAndAmortization
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CY2009 us-gaap Depreciation And Amortization
DepreciationAndAmortization
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CY2010 us-gaap Depreciation And Amortization
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CY2010Q1 us-gaap Retained Earnings Accumulated Deficit
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355270000 USD
CY2011Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
343474000 USD
CY2009Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
400379000 USD
CY2009 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
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CY2011 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
14412000 USD
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CY2011Q1 us-gaap Liabilities Current
LiabilitiesCurrent
361351000 USD
CY2010Q1 us-gaap Liabilities Current
LiabilitiesCurrent
300142000 USD
CY2009Q1 us-gaap Liabilities Current
LiabilitiesCurrent
373625000 USD
CY2010Q1 hni Prepaid Expenses And Other Current Assets
PrepaidExpensesAndOtherCurrentAssets
17728000 USD
CY2011Q1 hni Prepaid Expenses And Other Current Assets
PrepaidExpensesAndOtherCurrentAssets
20957000 USD
CY2009Q1 hni Prepaid Expenses And Other Current Assets
PrepaidExpensesAndOtherCurrentAssets
29623000 USD
CY2009 us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
75479000 USD
CY2010 us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
500000 USD
CY2011 us-gaap Payments To Acquire Businesses And Interest In Affiliates
PaymentsToAcquireBusinessesAndInterestInAffiliates
149000 USD
CY2011 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
46478000 USD
CY2010 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
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CY2009 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
76671000 USD
CY2011 hni Discontinued Operations Attributable To Hni Corporation Per Common Share Diluted
DiscontinuedOperationsAttributableToHniCorporationPerCommonShareDiluted
-0.06
CY2009 hni Discontinued Operations Attributable To Hni Corporation Per Common Share Diluted
DiscontinuedOperationsAttributableToHniCorporationPerCommonShareDiluted
-0.11
CY2010 hni Discontinued Operations Attributable To Hni Corporation Per Common Share Diluted
DiscontinuedOperationsAttributableToHniCorporationPerCommonShareDiluted
-0.1

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