Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 29, 2025

Revenue from Contract with Customer [Abstract]

Revenue from contracts with customers disaggregated by product category is as follows:


	Three Months Ended
		March 29, 2025		March 30, 2024
Systems, storage, and tables		$	275.2	$	279.5
Seating		133.5		126.0
Other(1)		32.3		34.2
Total workplace furnishings		441.1		439.8

Residential building products		158.7		148.2
Net sales		$	599.8	$	588.0

(1) The other category consists of education-specific furnishings, architectural products, workspace accessories, and miscellaneous product lines and services.

Schedule of Contract Assets and Contract Liabilities

Contract assets and contract liabilities were as follows:


	March 29, 2025		December 28, 2024
Trade receivables (1)	$	236.4	$	248.4
Contract assets (current) (2)	$	2.8	$	3.2
Contract assets (long-term) (3)	$	27.2	$	26.2
Contract liabilities - Customer deposits (4)	$	34.0	$	42.1
Contract liabilities - Accrued rebate and marketing programs (4)	$	22.0	$	25.4

Balances as of March 29, 2025 in the table above exclude amounts classified as held for sale, see "Note 3. Held for Sale" for further information. The decrease in customer deposits compared to the prior year end was driven by project fulfillment timing in the hospitality customer channel.

The index below indicates the line item in the Condensed Consolidated Balance Sheets where contract assets and contract liabilities are reported:

(1) "Receivables"

(2) "Prepaid expenses and other current assets"

(3) "Other Assets"

(4) "Accounts payable and accrued expenses"

HNI CORP 10-Q