HNI Corporation (HNI) Financial Statements (2025 and earlier)
Company Profile
| Business Address |
600 EAST SECOND STREET - PO BOX 1109 MUSCATINE, IA 52761-7109 |
| State of Incorp. | IA |
| Fiscal Year End | December 31 |
| Industry (SIC) | 2522 - Office Furniture, Except Wood (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in millions)
| 6/30/2025 MRQ | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 29 | 35 | 19 | 54 | 118 | 53 | |||
| Cash and cash equivalent | 23 | 29 | 17 | 52 | 116 | 52 | |||
| Short-term investments | 6 | 6 | 2 | 1 | 2 | 1 | |||
| Receivables | 247 | 218 | 240 | 208 | 275 | ||||
| Inventory, net of allowances, customer advances and progress billings | 194 | 197 | 180 | 182 | 138 | 163 | |||
| Inventory | 194 | 197 | 180 | 182 | 138 | 163 | |||
| Contract with customer, asset, after allowance for credit loss | 3 | 3 | 3 | 1 | 1 | 1 | |||
| Other undisclosed current assets | 298 | 55 | 48 | 47 | 31 | 37 | |||
| Total current assets: | 525 | 536 | 469 | 523 | 496 | 529 | |||
| Noncurrent Assets | |||||||||
| Finance lease, right-of-use asset, after accumulated amortization | 14 | 12 | 11 | 10 | 6 | 2 | |||
| Operating lease, right-of-use asset | 122 | 115 | 88 | 83 | 70 | 73 | |||
| Property, plant and equipment | 530 | 555 | 353 | 367 | 366 | 382 | |||
| Intangible assets, net (including goodwill), including: | 624 | 652 | 440 | 472 | 459 | 446 | |||
| Goodwill | 442 | 441 | 306 | 297 | 292 | 271 | |||
| Intangible assets, net (excluding goodwill) | 182 | 211 | 134 | 174 | 166 | 175 | |||
| Other undisclosed intangible assets, net (including goodwill) | 0 | ||||||||
| Deferred income tax assets | 1 | 0 | |||||||
| Other noncurrent assets | 61 | 58 | 53 | 43 | 21 | 21 | |||
| Other undisclosed noncurrent assets | (0) | ||||||||
| Total noncurrent assets: | 1,351 | 1,393 | 945 | 974 | 922 | 924 | |||
| TOTAL ASSETS: | 1,875 | 1,929 | 1,415 | 1,498 | 1,418 | 1,453 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities, including: | 391 | 419 | 368 | 474 | 414 | 453 | |||
| Employee-related liabilities | ✕ | ✕ | ✕ | ✕ | 55 | 49 | 53 | ||
| Accounts payable | 190 | 194 | 165 | 234 | 191 | 228 | |||
| Accrued liabilities | 146 | 172 | 156 | 121 | 117 | 136 | |||
| Other undisclosed accounts payable and accrued liabilities | 55 | 53 | 46 | 64 | 57 | 36 | |||
| Debt | 56 | 12 | 5 | 6 | 2 | 1 | |||
| Deferred compensation liability | 0 | 0 | 1 | 1 | 1 | 1 | |||
| Self insurance reserve | 5 | 6 | 5 | ||||||
| Other liabilities | 2 | 7 | 2 | 4 | 3 | 2 | |||
| Other undisclosed current liabilities | 22 | 20 | 15 | 21 | 18 | 22 | |||
| Total current liabilities: | 478 | 464 | 395 | 506 | 439 | 479 | |||
| Noncurrent Liabilities | |||||||||
| Long-term debt and lease obligation | 303 | 436 | 197 | 246 | 232 | 234 | |||
| Long-term debt, excluding current maturities | 294 | 428 | 189 | 175 | 175 | 174 | |||
| Finance lease, liability | 9 | 8 | 8 | 7 | 5 | 2 | |||
| Liabilities, other than long-term debt | 254 | 267 | 206 | 156 | 156 | 155 | |||
| Deferred income tax liabilities | 72 | 85 | 61 | 75 | 75 | 87 | |||
| Other liabilities | 73 | 78 | 66 | 81 | 81 | 68 | |||
| Operating lease, liability | 110 | 104 | 79 | 64 | 53 | 58 | |||
| Other undisclosed noncurrent liabilities | (0) | (0) | |||||||
| Total noncurrent liabilities: | 557 | 703 | 403 | 401 | 388 | 389 | |||
| Total liabilities: | 1,035 | 1,167 | 798 | 908 | 827 | 868 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 840 | 761 | 617 | 590 | 590 | 584 | |||
| Common stock | 47 | 47 | 41 | 43 | 43 | 43 | |||
| Additional paid in capital | 202 | 202 | 49 | 39 | 39 | 20 | |||
| Accumulated other comprehensive loss | (8) | (11) | (8) | (7) | (9) | (8) | |||
| Retained earnings | 600 | 524 | 534 | 515 | 518 | 530 | |||
| Other undisclosed equity, attributable to parent | 0 | (0) | |||||||
| Equity, attributable to noncontrolling interest | 0 | 0 | 0 | 0 | 0 | 0 | |||
| Other undisclosed equity | 0 | ||||||||
| Total equity: | 840 | 762 | 617 | 590 | 591 | 584 | |||
| TOTAL LIABILITIES AND EQUITY: | 1,875 | 1,929 | 1,415 | 1,498 | 1,418 | 1,453 | |||
Income Statement (P&L) ($ in millions)
| 6/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 2,526 | 2,434 | 2,362 | 2,184 | 1,955 | 2,247 | ||
| Cost of revenue (Cost of Product and Service Sold) | (1,493) | (1,486) | (1,527) | (1,427) | (1,234) | (1,413) | ||
| Gross profit: | 1,033 | 948 | 835 | 757 | 721 | 834 | ||
| Operating expenses | (827) | (858) | (680) | (672) | (660) | (682) | ||
| Other undisclosed operating loss | ||||||||
| Operating income: | 207 | 90 | 155 | 85 | 61 | 151 | ||
| Interest and debt expense | (7) | (7) | (9) | |||||
| Income from continuing operations before equity method investments, income taxes: | 207 | 90 | 155 | 78 | 54 | 143 | ||
| Other undisclosed loss from continuing operations before income taxes | (27) | (26) | (9) | |||||
| Income from continuing operations before income taxes: | 179 | 65 | 146 | 78 | 54 | 143 | ||
| Income tax expense | (40) | (16) | (23) | (18) | (12) | (32) | ||
| Income from continuing operations: | 140 | 49 | 124 | 60 | 42 | 111 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | ✕ | 60 | 42 | 111 | |
| Other undisclosed net income | ||||||||
| Net income: | 140 | 49 | 124 | 60 | 42 | 111 | ||
| Net income (loss) attributable to noncontrolling interest | 0 | (0) | 0 | |||||
| Other undisclosed net loss attributable to parent | ||||||||
| Net income available to common stockholders, diluted: | 140 | 49 | 124 | 60 | 42 | 111 | ||
Comprehensive Income ($ in millions)
| 6/30/2025 TTM | 12/31/2024 | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 140 | 49 | 124 | 60 | 42 | 111 | ||
| Other comprehensive income (loss) | 2 | (3) | (1) | 2 | (1) | (4) | ||
| Other undisclosed comprehensive loss | (1) | |||||||
| Comprehensive income: | 142 | 47 | 123 | 62 | 41 | 106 | ||
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 0 | (0) | 0 | |||||
| Other undisclosed comprehensive loss, net of tax, attributable to parent | ||||||||
| Comprehensive income, net of tax, attributable to parent: | 142 | 47 | 123 | 62 | 41 | 106 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.