HNI Corporation (HNI) Financial Statements (2023 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)Annual | Quarterly
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | |||
|---|---|---|---|---|---|---|---|---|
| ASSETS | ||||||||
| Current Assets | ||||||||
| Cash, cash equivalents, and short-term investments | 54 | 118 | 53 | 78 | 25 | 39 | ||
| Cash and cash equivalents | 52 | 116 | 52 | 77 | 23 | 36 | ||
| Short-term investments | 1 | 2 | 1 | 1 | 2 | 2 | ||
| Receivables | 240 | 208 | 275 | 255 | 259 | 229 | ||
| Inventory, net of allowances, customer advances and progress billings | 182 | 138 | 163 | 157 | 156 | 118 | ||
| Inventory | 182 | 138 | 163 | 157 | 156 | 118 | ||
| Contract with customer, asset | 1 | 1 | 1 | 1 | ✕ | ✕ | ||
| Other undisclosed current assets | 47 | 31 | 37 | 41 | 49 | 47 | ||
| Total current assets: | 523 | 496 | 529 | 532 | 489 | 433 | ||
| Noncurrent Assets | ||||||||
| Finance lease, right-of-use asset | 10 | 6 | 2 | ✕ | ✕ | ✕ | ||
| Operating lease, right-of-use asset | 83 | 70 | 73 | ✕ | ✕ | ✕ | ||
| Property, plant and equipment | 367 | 366 | 382 | 385 | 390 | 356 | ||
| Intangible assets, net (including goodwill) | 472 | 459 | 446 | 463 | 491 | 291 | ||
| Goodwill | 297 | 292 | 271 | 271 | 280 | 291 | ||
| Intangible assets, net (excluding goodwill) | 174 | 166 | 175 | 193 | 211 | |||
| Deferred income tax assets | 1 | 0 | ✕ | ✕ | ✕ | |||
| Other noncurrent assets | 43 | 21 | 21 | 20 | 21 | 249 | ||
| Deferred tax assets, net | ✕ | ✕ | ✕ | 1 | ||||
| Other undisclosed noncurrent assets | 2 | 0 | ||||||
| Total noncurrent assets: | 974 | 922 | 924 | 870 | 903 | 897 | ||
| TOTAL ASSETS: | 1,498 | 1,418 | 1,453 | 1,402 | 1,392 | 1,330 | ||
| LIABILITIES AND EQUITY | ||||||||
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts payable and accrued liabilities, including: | 474 | 414 | 453 | 429 | 450 | 425 | ||
| Accounts payable | 234 | 191 | 228 | 221 | 236 | 202 | ||
| Accrued liabilities | 121 | 117 | 136 | 123 | 147 | 136 | ||
| Employee-related liabilities | 55 | 49 | 53 | 52 | 33 | 47 | ||
| Other undisclosed accounts payable and accrued liabilities | 64 | 57 | 36 | 33 | 34 | 40 | ||
| Debt | 6 | 2 | 1 | 1 | 37 | 34 | ||
| Deferred compensation liability | 1 | 1 | 1 | |||||
| Other liabilities | 4 | 3 | 2 | 5 | 3 | 4 | ||
| Other undisclosed current liabilities | 21 | 18 | 22 | |||||
| Total current liabilities: | 506 | 439 | 479 | 434 | 490 | 463 | ||
| Noncurrent Liabilities | ||||||||
| Long-term debt and lease obligation | 246 | 232 | 234 | 249 | 240 | 180 | ||
| Long-term debt, excluding current maturities | 175 | 175 | 174 | 249 | 240 | 180 | ||
| Finance lease, liability | 7 | 5 | 2 | ✕ | ✕ | ✕ | ||
| Operating lease, liability | 64 | 53 | 58 | ✕ | ✕ | ✕ | ||
| Liabilities, other than long-term debt | 156 | 156 | 155 | 87 | 88 | 186 | ||
| Accounts payable and accrued liabilities | 6 | 6 | ||||||
| Deferred compensation liability, classified | 9 | 12 | ||||||
| Deferred tax liabilities, net | ✕ | ✕ | ✕ | 111 | ||||
| Deferred income tax liabilities | 75 | 75 | 87 | ✕ | ✕ | ✕ | ||
| Other liabilities | 81 | 81 | 68 | 73 | 70 | 75 | ||
| Other undisclosed noncurrent liabilities | 67 | 59 | ||||||
| Total noncurrent liabilities: | 401 | 388 | 389 | 404 | 387 | 366 | ||
| Total liabilities: | 908 | 827 | 868 | 839 | 877 | 829 | ||
| Stockholders' equity | ||||||||
| Stockholders' equity attributable to parent | 590 | 590 | 584 | 563 | 514 | 501 | ||
| Common stock | 43 | 43 | 43 | 44 | 43 | 44 | ||
| Additional paid in capital | 39 | 39 | 20 | 18 | 7 | |||
| Accumulated other comprehensive loss | (7) | (9) | (8) | (4) | (4) | (5) | ||
| Retained earnings | 515 | 518 | 530 | 505 | 467 | 462 | ||
| Stockholders' equity attributable to noncontrolling interest | 0 | 0 | 0 | 0 | 1 | 0 | ||
| Total stockholders' equity: | 590 | 591 | 584 | 563 | 515 | 501 | ||
| TOTAL LIABILITIES AND EQUITY: | 1,498 | 1,418 | 1,453 | 1,402 | 1,392 | 1,330 | ||
Income Statement (P&L) ($ in millions) Annual | Quarterly
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | ||
|---|---|---|---|---|---|---|---|
| Revenues | 2,184 | 1,955 | 2,247 | 2,258 | 2,176 | 2,203 | |
| Revenue, net | ✕ | ✕ | ✕ | ✕ | 2,176 | 2,203 | |
| Cost of revenue (Cost of Goods and Services Sold) | (1,427) | (1,234) | (1,413) | (1,423) | (1,392) | (1,368) | |
| Gross profit: | 757 | 721 | 834 | 835 | 784 | 835 | |
| Operating expenses | (672) | (660) | (682) | (707) | (707) | (701) | |
| Operating income: | 85 | 61 | 151 | 128 | 77 | 134 | |
| Nonoperating income (Investment Income, Nonoperating) | 1 | 0 | 0 | ||||
| Interest and debt expense | (7) | (7) | (9) | (10) | (6) | (5) | |
| Income from continuing operations before income taxes: | 78 | 54 | 143 | 119 | 71 | 129 | |
| Income tax expense (benefit) | (18) | (12) | (32) | (25) | 19 | (43) | |
| Net income: | 60 | 42 | 111 | 93 | 90 | 86 | |
| Net income (loss) attributable to noncontrolling interest | 0 | (0) | 0 | 0 | (0) | (0) | |
| Net income available to common stockholders, diluted: | 60 | 42 | 111 | 93 | 90 | 86 | |
Comprehensive Income ($ in millions)Annual | Quarterly
| 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | 12/31/2017 | 12/31/2016 | ||
|---|---|---|---|---|---|---|---|
| Net income: | 60 | 42 | 111 | 93 | 90 | 86 | |
| Other comprehensive income (loss) | 2 | (1) | (4) | 0 | 1 | 0 | |
| Other undisclosed comprehensive loss | (1) | ||||||
| Comprehensive income: | 62 | 41 | 106 | 93 | 91 | 86 | |
| Comprehensive income (loss), net of tax, attributable to noncontrolling interest | 0 | (0) | 0 | 0 | (0) | (0) | |
| Comprehensive income, net of tax, attributable to parent: | 62 | 41 | 106 | 93 | 91 | 86 | |
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.