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Hni Corp (HNI) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 30, 2017

Hni Corp

CIK: 48287 Ticker: HNI
                                    
HNI Corporation 600 East Second Street, Muscatine, Iowa 52761, Tel 563 272 7400, Fax 563 272 7347, www.hnicorp.com

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News Release
                                
For Information Contact:
Marshall H. Bridges, Vice President and Chief Financial Officer (563) 272-7400
Jack D. Herring, Treasurer, Director of Finance and Investor Relations (563) 506-9783

HNI CORPORATION REPORTS EARNINGS
FOR FOURTH QUARTER AND FISCAL YEAR 2017

MUSCATINE, Iowa (February 8, 2018) – HNI Corporation (NYSE: HNI) today announced sales for the full year ended December 30, 2017 of $2,176 million and net income of $90 million. GAAP net income per diluted share was $2.00 compared to $1.88 in the prior year. GAAP net income includes a one-time tax benefit of $45 million related to the recently enacted tax legislation, partially offset by several nonrecurring charges. Non-GAAP net income per diluted share was $1.97 compared to $2.62 in the prior year.

Fourth quarter sales were $584 million and net income was $34 million. GAAP net income per diluted share, which also includes the tax legislation impact and several nonrecurring charges, was $0.77 compared to $0.24 in the prior year. Non-GAAP net income per diluted share was $0.47 compared to $0.82 in the prior year. GAAP to non-GAAP reconciliations follow the financial statements in this release.

Fourth Quarter Summary Comments
“Our fourth quarter played out as we expected. We stabilized our supplies-driven business, made strong progress with our operational transformations, and positioned our Business Systems Transformation initiative for a successful go-live. The new tax legislation created a positive non-cash adjustment of our deferred tax liabilities and will lower our future tax expense. We also incurred several charges reflecting our multi-year effort to advance our operational capability and optimize our business portfolio. With this round of efforts largely complete, we are excited about our market momentum and the platform we’ve built to drive long-term shareholder value,” said Stan Askren, HNI Corporation Chairman, President and Chief Executive Officer.




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The following information was filed by Hni Corp (HNI) on Thursday, February 8, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Hni Corp's 10-K Annual Report:

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information Document
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Equity
Consolidated Statements Of Equity (parenthetical)
Accumulated Other Comprehensive Income (loss) And Shareholders' Equity
Accumulated Other Comprehensive Income (loss) And Shareholders' Equity (accumulated Other Comprehensive Loss) (details)
Accumulated Other Comprehensive Income (loss) And Shareholders' Equity (common Stock Issued) (details)
Accumulated Other Comprehensive Income (loss) And Shareholders' Equity (director Plan Issued Common Stock) (details)
Accumulated Other Comprehensive Income (loss) And Shareholders' Equity (dividends Declared And Paid Per Share) (details)
Accumulated Other Comprehensive Income (loss) And Shareholders' Equity (narrative) (details)
Accumulated Other Comprehensive Income (loss) And Shareholders' Equity (reclassifications From Accumulated Other Comprehensive Income (loss)) (details)
Acquisitions And Divestitures
Acquisitions And Divestitures (details)
Fair Value Measurements Of Financial Instruments
Fair Value Measurements Of Financial Instruments (details)
Fair Value Measurements Of Financial Instruments (tables)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (goodwill) (details)
Goodwill And Other Intangible Assets (indefinite Lived Intangible Assets) (details)
Goodwill And Other Intangible Assets (narrative) (details)
Goodwill And Other Intangible Assets (other Intangible Assets) (details)
Goodwill And Other Intangible Assets (schedule Of Goodwill And Other Intangible Assets) (details)
Goodwill And Other Intangible Assets (tables)
Guarantees, Commitments And Contingencies
Guarantees, Commitments And Contingencies (details)
Income Taxes
Income Taxes (deferred Tax Assets And Liabilities) (details)
Income Taxes (effective Income Tax Rate Reconciliation) (details)
Income Taxes (interest And Penalties) (details)
Income Taxes (narrative) (details)
Income Taxes (provision For Income Taxes) (details)
Income Taxes (tables)
Income Taxes (unrecognized Tax Benefits) (details)
Income Taxes (valuation Allowance For Deferred Tax Asset) (details)
Leases
Leases (details)
Leases (tables)
Long-term Debt
Long-term Debt (narrative) (details)
Long-term Debt (schedule Of Long-term Debt) (details)
Long-term Debt (schedule Of Maturities Of Long-term Debt) (details)
Long-term Debt (tables)
Nature Of Operations
Post-retirement Health Care
Post-retirement Health Care (components Of Net Periodic Post-retirement Benefit Cost) (details)
Post-retirement Health Care (estimated Future Benefit Payments) (details)
Post-retirement Health Care (schedule Of Cost Of Retirement Plans) (details)
Post-retirement Health Care (tables)
Post-retirement Health Care Post-retirement Health Care (valuation Assumptions) (details)
Reportable Segment Information
Reportable Segment Information (business Segment Information) (details)
Reportable Segment Information (net Sales By Product Category) (details)
Reportable Segment Information (tables)
Restructuring And Impairment Charges
Restructuring And Impairment Charges (schedule Of Restructuring And Related Costs) (details)
Restructuring And Impairment Charges (schedule Of Restructuring Reserve By Type Of Cost) (details)
Restructuring And Impairment Charges (tables)
Restructuring And Impairment Charges - Narrative (details)
Retirement Benefits
Retirement Benefits (details)
Retirement Benefits (tables)
Shareholders' Equity (tables)
Stock-based Compensation
Stock-based Compensation (compensation Cost) (details)
Stock-based Compensation (deferred Compensation) (details)
Stock-based Compensation (income Tax Benefit) (details)
Stock-based Compensation (narrative) (details)
Stock-based Compensation (non-vested Stock Option Activity) (details)
Stock-based Compensation (other Information) (details)
Stock-based Compensation (outstanding Rsu Activity) (details)
Stock-based Compensation (outstanding Stock Option Activity) (details)
Stock-based Compensation (rsu's Vested) (details)
Stock-based Compensation (stock Option Vested Or Expected To Vest And Are Exercisable) (details)
Stock-based Compensation (tables)
Stock-based Compensation (valuation Assumptions) (details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (accounts Payable) (details)
Summary Of Significant Accounting Policies (allowance For Doubtful Accounts) (details)
Summary Of Significant Accounting Policies (cash, Cash Equivalents And Investments) (details)
Summary Of Significant Accounting Policies (earnings Per Share) (details)
Summary Of Significant Accounting Policies (freight Expenses) (details)
Summary Of Significant Accounting Policies (income Taxes) (details)
Summary Of Significant Accounting Policies (insurance Liabilities) (details)
Summary Of Significant Accounting Policies (inventories) (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (product Development Costs) (details)
Summary Of Significant Accounting Policies (product Warranties) (details)
Summary Of Significant Accounting Policies (property, Plant And Equipment) (details)
Summary Of Significant Accounting Policies (recently Adopted Accounting Standards) (details)
Summary Of Significant Accounting Policies (tables)
Supplemental Cash Flow Information
Supplemental Cash Flow Information (details)
Supplemental Cash Flow Information (tables)
Ticker: HNI
CIK: 48287
Form Type: 10-K Annual Report
Accession Number: 0000048287-18-000059
Submitted to the SEC: Fri Feb 23 2018 10:00:30 AM EST
Accepted by the SEC: Fri Feb 23 2018
Period: Saturday, December 30, 2017
Industry: Office Furniture No Wood

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