Held for Sale

6 Months Ended

Jul. 01, 2023

Discontinued Operations and Disposal Groups [Abstract]

Held for Sale

Held for SaleThe Corporation evaluated the Poppin business unit of Kimball International and determined that it met the criteria for held-for-sale presentation, as established in ASC 360. In August 2023, subsequent to the end of the second quarter, the Corporation reached an agreement to sell substantially all assets and liabilities of Poppin.

The following table summarizes assets and liabilities held for sale in the workplace furnishings segment in the "Condensed Consolidated Balance Sheets," by major class. In addition to Poppin assets and liabilities, the assets held for sale includes $1.4 million related to the pending sale of one of the Corporation's office buildings in Muscatine, Iowa. The long-lived asset balances are recorded at fair value, based on the expected sales price, less costs to sell.

	As of July 1, 2023		As of December 31, 2022
Assets:
Receivables	$	1.4	$	—
Inventories	11.9		—
Prepaid expenses and other current assets	0.7		—
Property, plant & equipment	3.1		1.9
Right-of-use operating leases	1.8		—
Total Assets held for sale	$	18.9	$	1.9
Liabilities:
Accounts payable and accrued expenses	$	9.4	$	—
Lease obligations - operating	5.0		—
Total Liabilities held for sale	$	14.4	$	—