$HNI
HNI CORP

2012 Q2 Form 10-Q Financial Statement

#000004828712000034 Filed on July 31, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q3
Revenue $480.4M $432.8M
YoY Change 21.27% 8.69%
Cost Of Revenue $315.3M $285.9M
YoY Change 20.6% 11.28%
Gross Profit $165.1M $146.9M
YoY Change 22.56% 3.97%
Gross Profit Margin 34.37% 33.95%
Selling, General & Admin $151.5M $136.2M
YoY Change 14.38% 6.38%
% of Gross Profit 91.73% 92.7%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $10.54M $11.61M
YoY Change -13.27% -22.8%
% of Gross Profit 6.38% 7.9%
Operating Expenses $151.5M $136.2M
YoY Change 14.38% 6.38%
Operating Profit $13.37M $10.27M
YoY Change 1351.25% -14.75%
Interest Expense $2.909M $3.033M
YoY Change -18.95% -0.69%
% of Operating Profit 21.76% 29.53%
Other Income/Expense, Net
YoY Change
Pretax Income $10.73M $7.347M
YoY Change -523.39% -19.13%
Income Tax $3.835M $2.744M
% Of Pretax Income 35.73% 37.35%
Net Earnings $7.025M $4.657M
YoY Change -500.28% -0.98%
Net Earnings / Revenue 1.46% 1.08%
Basic Earnings Per Share $0.15 $0.10
Diluted Earnings Per Share $0.15 $0.10
COMMON SHARES
Basic Shares Outstanding 45.42M shares 44.75M shares
Diluted Shares Outstanding 45.95M shares 45.67M shares

Balance Sheet

Concept 2012 Q2 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $62.30M $60.00M
YoY Change -5.03% 13.85%
Cash & Equivalents $55.06M $46.76M
Short-Term Investments $7.300M $13.20M
Other Short-Term Assets $52.40M $52.00M
YoY Change 9.85% 18.45%
Inventory $113.7M $101.0M
Prepaid Expenses
Receivables $219.8M $210.1M
Other Receivables $0.00 $0.00
Total Short-Term Assets $448.2M $423.1M
YoY Change 20.34% 16.86%
LONG-TERM ASSETS
Property, Plant & Equipment $227.6M $223.9M
YoY Change 0.08% -8.14%
Goodwill $272.5M $260.6M
YoY Change 4.55%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $127.3M $96.22M
YoY Change 32.94% 108.27%
Total Long-Term Assets $627.4M $580.7M
YoY Change 7.46% -4.91%
TOTAL ASSETS
Total Short-Term Assets $448.2M $423.1M
Total Long-Term Assets $627.4M $580.7M
Total Assets $1.076B $1.004B
YoY Change 12.48% 3.19%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $354.6M $320.8M
YoY Change 29.99% 5.77%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $60.70M $50.40M
YoY Change 19.72% 0.2%
Total Short-Term Liabilities $415.3M $371.1M
YoY Change 28.37% 4.95%
LONG-TERM LIABILITIES
Long-Term Debt $150.2M $150.0M
YoY Change 0.12% 0.0%
Other Long-Term Liabilities $57.26M $50.65M
YoY Change 13.18% 4.86%
Total Long-Term Liabilities $207.4M $200.6M
YoY Change 3.41% 1.18%
TOTAL LIABILITIES
Total Short-Term Liabilities $415.3M $371.1M
Total Long-Term Liabilities $207.4M $200.6M
Total Liabilities $622.8M $571.8M
YoY Change 18.82% -0.32%
SHAREHOLDERS EQUITY
Retained Earnings $333.7M $325.7M
YoY Change 0.71%
Common Stock $73.21M $64.15M
YoY Change 19.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $408.7M $392.8M
YoY Change
Total Liabilities & Shareholders Equity $1.076B $1.004B
YoY Change 12.48% 3.19%

Cashflow Statement

Concept 2012 Q2 2011 Q3
OPERATING ACTIVITIES
Net Income $7.025M $4.657M
YoY Change -500.28% -0.98%
Depreciation, Depletion And Amortization $10.54M $11.61M
YoY Change -13.27% -22.8%
Cash From Operating Activities $33.40M $13.60M
YoY Change -251.94% -49.44%
INVESTING ACTIVITIES
Capital Expenditures -$12.30M -$10.00M
YoY Change 167.39% 31.58%
Acquisitions
YoY Change
Other Investing Activities -$300.0K $400.0K
YoY Change -35.9%
Cash From Investing Activities -$12.40M -$9.700M
YoY Change 92.28% 27.63%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -22.40M -9.600M
YoY Change 22.4% -46.67%
NET CHANGE
Cash From Operating Activities 33.40M 13.60M
Cash From Investing Activities -12.40M -9.700M
Cash From Financing Activities -22.40M -9.600M
Net Change In Cash -1.400M -5.700M
YoY Change -97.0% -538.46%
FREE CASH FLOW
Cash From Operating Activities $33.40M $13.60M
Capital Expenditures -$12.30M -$10.00M
Free Cash Flow $45.70M $23.60M
YoY Change -362.9% -31.59%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">New Accounting Standards</font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">There were no new accounting standards issued during the quarter that the Corporation expects to have a material impact on the financial statements.</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2012Q2 us-gaap Net Income Loss
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us-gaap Net Income Loss
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Net Income Loss Attributable To Noncontrolling Interest
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us-gaap Pension And Other Postretirement Benefit Expense
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us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
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us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
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us-gaap Net Income Loss
NetIncomeLoss
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CY2011Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2012Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
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CY2012Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2011Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
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us-gaap Operating Income Loss
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us-gaap Operating Income Loss
OperatingIncomeLoss
15562000 USD
us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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us-gaap Payments To Acquire Productive Assets
PaymentsToAcquireProductiveAssets
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CY2011Q4 us-gaap Other Liabilities Noncurrent
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CY2012Q2 us-gaap Other Liabilities Noncurrent
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us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
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us-gaap Other Noncash Income Expense
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us-gaap Payments For Proceeds From Other Investing Activities
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223000 USD
us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
6161000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
10000000 USD
us-gaap Payments Of Dividends
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us-gaap Payments Of Dividends
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20638000 USD
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CY2011Q4 us-gaap Other Assets Noncurrent
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145000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
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us-gaap Other Comprehensive Income Loss Net Of Tax Period Increase Decrease
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us-gaap Other Comprehensive Income Loss Tax
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us-gaap Other Comprehensive Income Loss Tax
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275000 USD
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341000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
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-378000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
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6496000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
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7649000 USD
CY2012Q2 us-gaap Percentage Of Lifo Inventory
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CY2012Q2 us-gaap Preferred Stock Shares Authorized
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PreferredStockSharesAuthorized
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CY2011Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
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PreferredStockSharesOutstanding
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CY2012Q2 us-gaap Preferred Stock Value Outstanding
PreferredStockValueOutstanding
0 USD
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PreferredStockValueOutstanding
0 USD
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80000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
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5000000 USD
us-gaap Proceeds From Sale And Maturity Of Other Investments
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us-gaap Proceeds From Sale And Maturity Of Other Investments
ProceedsFromSaleAndMaturityOfOtherInvestments
3802000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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595000 USD
us-gaap Proceeds From Sale Of Property Plant And Equipment
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CY2012Q2 us-gaap Profit Loss
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us-gaap Profit Loss
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6745000 USD
us-gaap Profit Loss
ProfitLoss
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CY2011Q4 us-gaap Property Plant And Equipment Gross
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CY2011Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2012Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
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CY2011Q4 us-gaap Receivables Net Current
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ReceivablesNetCurrent
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us-gaap Repayments Of Long Term Debt And Capital Securities
RepaymentsOfLongTermDebtAndCapitalSecurities
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us-gaap Repayments Of Long Term Debt And Capital Securities
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4295000 USD
CY2012Q2 us-gaap Restructuring Reserve
RestructuringReserve
642000 USD
CY2011Q4 us-gaap Restructuring Reserve
RestructuringReserve
1099000 USD
us-gaap Restructuring Reserve Period Expense
RestructuringReservePeriodExpense
1189000 USD
us-gaap Restructuring Reserve Settled With Cash
RestructuringReserveSettledWithCash
1646000 USD
CY2012Q2 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
292000 USD
CY2011Q3 us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
463000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
1189000 USD
us-gaap Restructuring Settlement And Impairment Provisions
RestructuringSettlementAndImpairmentProvisions
1853000 USD
CY2011Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
348210000 USD
CY2012Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
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CY2011Q3 us-gaap Sales Revenue Net
SalesRevenueNet
432810000 USD
CY2012Q2 us-gaap Sales Revenue Net
SalesRevenueNet
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us-gaap Sales Revenue Net
SalesRevenueNet
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us-gaap Sales Revenue Net
SalesRevenueNet
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CY2012Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost
1400000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost
3600000 USD
CY2012Q2 us-gaap Short Term Investments
ShortTermInvestments
7250000 USD
CY2011Q4 us-gaap Short Term Investments
ShortTermInvestments
9157000 USD
CY2011Q3 us-gaap Selling General And Administrative Expense
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SellingGeneralAndAdministrativeExpense
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us-gaap Selling General And Administrative Expense
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us-gaap Selling General And Administrative Expense
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us-gaap Share Based Compensation
ShareBasedCompensation
3398000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
3607000 USD
CY2011Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost
1800000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardCompensationCost
3400000 USD
CY2011Q3 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
12203000 USD
CY2011Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
12910000 USD
CY2012Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
12883000 USD
CY2011Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
12930000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
6982000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
7998000 USD
dei Entity Central Index Key
EntityCentralIndexKey
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CY2012Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
45329791 shares
us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
-4864000 USD
us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
-4906000 USD
us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount
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CY2011Q4 us-gaap Stockholders Equity
StockholdersEquity
419057000 USD
CY2012Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
419322000 USD
CY2012Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
408814000 USD
CY2012Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45944815 shares
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45667453 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45732598 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
45814296 shares
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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CY2012Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
44799013 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
45285545 shares
CY2012Q2 hni Estimated Annual Effective Income Tax Rate Continuing Operations
EstimatedAnnualEffectiveIncomeTaxRateContinuingOperations
0.37
CY2012Q2 hni Land And Land Improvements
LandAndLandImprovements
23270000 USD
CY2011Q4 hni Land And Land Improvements
LandAndLandImprovements
23197000 USD
hni Net Loss On Sales Retirements And Impairments Of Long Lived Assets And Intangibles
NetLossOnSalesRetirementsAndImpairmentsOfLongLivedAssetsAndIntangibles
435000 USD
hni Net Loss On Sales Retirements And Impairments Of Long Lived Assets And Intangibles
NetLossOnSalesRetirementsAndImpairmentsOfLongLivedAssetsAndIntangibles
328000 USD
hni Number Of Reportable Segments
NumberOfReportableSegments
2 Segment
CY2011Q4 hni Prepaid Expenses And Other Current Assets
PrepaidExpensesAndOtherCurrentAssets
27365000 USD
CY2012Q2 hni Prepaid Expenses And Other Current Assets
PrepaidExpensesAndOtherCurrentAssets
34218000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-29
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Period End Date
DocumentPeriodEndDate
2012-06-30
dei Document Type
DocumentType
10-Q
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
HNI CORP

Files In Submission

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hni-20120630.xml Edgar Link completed
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