0000950170-24-051378 | 10-Q | XBRL Viewer

Print Document

Leases (Future Minimum Lease Payments) (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Leases [Abstract]
Remaining payments in FY2024	$ 2,432
FY2025	9,418
FY2026	9,208
FY2027	9,378
FY2028	9,144
Thereafter	37,040
Total future minimum lease payments	76,620
Less imputed interest	9,113
Lease liability	$ 67,507

Income Taxes	9 Months Ended
Mar. 31, 2024
Income Taxes [Abstract]
Income Taxes	7. INCOME TAXES The provision for income taxes for the interim periods is based on an estimate of the Company’s annual effective tax rate adjusted to reflect the impact of discrete items. Management judgment is required in projecting ordinary income to estimate the Company’s annual effective tax rate. The Company’s effective tax rate for the three months ended March 31, 2024, and March 31, 2023, was 32.2% and 21.0%, respectively. The Company's effective tax rate for the nine months ended March 31, 2024 and 2023, was 30.8% and 14.8%, respectively. For the three and nine months ended March 31, 2024, the effective tax rate differs from the statutory tax rate of 21% due to nondeductible stock compensation, state taxes, the impacts associated with uncertain tax positions, and impact of foreign operations. For the three and nine months ended March 31, 2023, the effective tax rate differs from the statutory tax rate of 21% due to nondeductible stock compensation, state taxes, the impacts associated with uncertain tax positions, as well as impacts arising from the reversal of a valuation allowance associated with movements in certain deferred tax assets.

Income Taxes

9 Months Ended

Mar. 31, 2024

Income Taxes [Abstract]

Income Taxes

7. INCOME TAXES

The provision for income taxes for the interim periods is based on an estimate of the Company’s annual effective tax rate adjusted to reflect the impact of discrete items. Management judgment is required in projecting ordinary income to estimate the Company’s annual effective tax rate. The Company’s effective tax rate for the three months ended March 31, 2024, and March 31, 2023, was 32.2% and 21.0%, respectively. The Company's effective tax rate for the nine months ended March 31, 2024 and 2023, was 30.8% and 14.8%, respectively. For the three and nine months ended March 31, 2024, the effective tax rate differs from the statutory tax rate of 21% due to nondeductible stock compensation, state taxes, the impacts associated with uncertain tax positions, and impact of foreign operations. For the three and nine months ended March 31, 2023, the effective tax rate differs from the statutory tax rate of 21% due to nondeductible stock compensation, state taxes, the impacts associated with uncertain tax positions, as well as impacts arising from the reversal of a valuation allowance associated with movements in certain deferred tax assets.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480990/946-20-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//740/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-21

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482526/740-270-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482685/740-10-50-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479360/740-10-S99-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482603/740-30-50-2

+ Details

Stock-Based Compensation (Summary Of Total Stock-Based Compensation Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Stock-Based Compensation [Abstract]
Total stock-based compensation expense	$ 877	$ 802	$ 2,722	$ 2,472

Assets Held For Sale (Tables)

9 Months Ended

Mar. 31, 2024

Assets Held For Sale [Abstract]

Summary Of Assets Held For Sale


				Accumulated			Net Book
Location	Asset Category	Cost		Depreciation			Value
(in thousands)
Starkville, Mississippi	Building & building improvements	$	4,615	$	(4,254	)	$	361
	Land & land improvements		694		(439	)		255
	Total assets held for sale	$	5,309	$	(4,693	)	$	616

Leases (Other Information Related To Leases And Future Minimum Lease Payments) (Details) - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows paid operating leases	$ 7,069	$ 6,575
Cash received from subleasing of operating lease: Operating cash flows received from subleasing of operating lease	1,975
Right-of-use assets obtained in exchange for lease liabilities: Operating leases	$ 797	$ 35,305
Weighted-average remaining lease term (in years): Operating leases	8 years 4 months 24 days	9 years 4 months 24 days
Weighted-average discount rate: Operating leases	3.10%	2.90%

Stock-Based Compensation (Schedule Of Options Outstanding And Exercisable) (Details) shares in Thousands	9 Months Ended
	Mar. 31, 2024 $ / shares shares
9.97 - 15.14 [Member]
Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range [Line Items]
Range of Price Lower	$ 9.97
Range of Price Upper	$ 15.14
Options Outstanding \| shares	97
Weighted Average Remaining Life (Years)	5 years 10 months 24 days
Weighted Average, Exercise Price	$ 12.64
18.30 - 19.72 Member]
Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range [Line Items]
Range of Price Lower	18.30
Range of Price Upper	$ 19.72
Options Outstanding \| shares	6
Weighted Average Remaining Life (Years)	7 years 2 months 12 days
Weighted Average, Exercise Price	$ 18.30
21.96 - 27.57 [Member]
Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range [Line Items]
Range of Price Lower	21.96
Range of Price Upper	$ 27.57
Options Outstanding \| shares	39
Weighted Average Remaining Life (Years)	4 years 9 months 18 days
Weighted Average, Exercise Price	$ 22.64
31.06 - 32.80 [Member]
Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range [Line Items]
Range of Price Lower	31.06
Range of Price Upper	$ 32.80
Options Outstanding \| shares	26
Weighted Average Remaining Life (Years)	2 years 1 month 6 days
Weighted Average, Exercise Price	$ 32.29
43.09 - 47.45 [Member]
Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range [Line Items]
Range of Price Lower	43.09
Range of Price Upper	$ 47.45
Options Outstanding \| shares	13
Weighted Average Remaining Life (Years)	2 years 6 months
Weighted Average, Exercise Price	$ 45.28
9.97 - 47.45 [Member]
Share-Based Compensation, Shares Authorized Under Stock Option Plans, Exercise Price Range [Line Items]
Range of Price Lower	9.97
Range of Price Upper	$ 47.45
Options Outstanding \| shares	181
Weighted Average Remaining Life (Years)	4 years 10 months 24 days
Weighted Average, Exercise Price	$ 20.15

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Consolidated Balance Sheets [Abstract]
Trade receivables, allowance for doubtful accounts	$ 2,451	$ 2,600
Common stock, par value	$ 1	$ 1
Common stock, authorized	15,000,000	15,000,000
Common stock, issued	8,363,000	8,292,000
Common stock, outstanding	5,156,000	5,174,000
Treasury stock, shares	3,207,000	3,118,000

Inventories (Comparison Of Inventories) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
Inventories [Abstract]
Raw materials	$ 16,752	$ 18,616
Work in process and finished parts	3,127	3,741
Finished goods	76,710	99,719
Total	$ 96,589	$ 122,076

Restructuring

9 Months Ended

Mar. 31, 2024

Restructuring [Abstract]

Restructuring

5. RESTRUCTURING

On February 5, 2024, the Company announced its plan to close its Dublin, Georgia manufacturing facility. The closure is expected to be complete by the end of fourth quarter fiscal year 2024.

As a result of the planned closure, the Company anticipated incurring pre-tax restructuring and related expenses between $3.0 million and $3.1 million. Total cumulative restructuring and related costs incurred as of March 31, 2024, was $2.6 million.

The following is a summary of restructuring costs:


	Three Months Ended				Nine Months Ended
(in thousands)	March 31, 2024		March 31, 2023		March 31, 2024		March 31, 2023
One-time employee termination benefits	$	2,409	$	—	$	2,409	$	—
Other associated costs		218		—		218		—
Total restructuring and related expenses	$	2,627	$	—	$	2,627	$	—
Reported as:
Operating expenses	$	2,627	$	—	$	2,627	$	—

One-time employee termination benefits include costs for employee separation benefits. Other associated costs primarily includes inventory and equipment transfer costs and other transition costs.

The rollforward of the accrued restructuring costs is as follows:


	One-time
	Employee			Other
	Termination			Associated
(in thousands)	Benefits			Costs			Total
Accrual balance on June 30, 2023	$	—		$	—		$	—
Costs incurred		2,409			218			2,627
Expenses (paid)		(694	)		(108	)		(802	)
Accrual balance on March 31, 2024	$	1,715		$	110		$	1,825

Restructuring (Tables)

9 Months Ended

Mar. 31, 2024

Restructuring [Abstract]

Summary Of Restructuring Costs


	Three Months Ended				Nine Months Ended
(in thousands)	March 31, 2024		March 31, 2023		March 31, 2024		March 31, 2023
One-time employee termination benefits	$	2,409	$	—	$	2,409	$	—
Other associated costs		218		—		218		—
Total restructuring and related expenses	$	2,627	$	—	$	2,627	$	—
Reported as:
Operating expenses	$	2,627	$	—	$	2,627	$	—

Roll-forward Of Accrued Restructuring Costs


	One-time
	Employee			Other
	Termination			Associated
(in thousands)	Benefits			Costs			Total
Accrual balance on June 30, 2023	$	—		$	—		$	—
Costs incurred		2,409			218			2,627
Expenses (paid)		(694	)		(108	)		(802	)
Accrual balance on March 31, 2024	$	1,715		$	110		$	1,825

Restructuring (Narrative) (Details) $ in Thousands	3 Months Ended	9 Months Ended
Restructuring (Narrative) (Details) $ in Thousands	Mar. 31, 2024 USD ($)	Mar. 31, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs	$ 1,825	$ 1,825
Restructuring Charges	2,627	2,627
Dublin, Georgia Manufacturing Facility [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges		2,600
Dublin, Georgia Manufacturing Facility [Member] \| Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs	3,000	3,000
Dublin, Georgia Manufacturing Facility [Member] \| Maximum [Member]
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs	$ 3,100	$ 3,100

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Assets Held For Sale

9 Months Ended

Mar. 31, 2024

Assets Held For Sale [Abstract]

Assets Held For Sale

3. ASSETS HELD FOR SALE

During fiscal year 2020, the Company committed to a plan to sell assets located at the Company’s Starkville, Mississippi location as part of a restructuring plan. As of March 31, 2024, the Company continues to actively market the assets in Starkville, Mississippi. A summary of the assets held for sale as of March 31, 2024, is included in the table below.


				Accumulated			Net Book
Location	Asset Category	Cost		Depreciation			Value
(in thousands)
Starkville, Mississippi	Building & building improvements	$	4,615	$	(4,254	)	$	361
	Land & land improvements		694		(439	)		255
	Total assets held for sale	$	5,309	$	(4,693	)	$	616

Consolidated Statements Of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
OPERATING ACTIVITIES:
Net income	$ 5,606	$ 4,617
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	2,940	3,483
Deferred income taxes	74
Stock-based compensation expense	2,722	2,472
Change in provision for losses on accounts receivable	(149)	(149)
Loss on disposal of assets	60
Changes in operating assets and liabilities:
Trade receivables	(567)	4,748
Inventories	25,487	27,901
Other current assets	(2,818)	(2,622)
Other assets	(7,623)
Accounts payable - trade	(3,039)	(6,311)
Accrued liabilities	1,561	(3,430)
Other long-term liabilities	107	(247)
Net cash provided by operating activities	24,361	30,462
INVESTING ACTIVITIES:
Capital expenditures	(4,361)	(3,597)
Net cash (used in) investing activities	(4,361)	(3,597)
FINANCING ACTIVITIES:
Dividends paid	(2,446)	(3,241)
Treasury stock purchases	(1,660)	(2,968)
Proceeds from line of credit	270,421	254,482
Payments on line of credit	(284,510)	(274,494)
Proceeds from issuance of common stock	88
Shares withheld for tax payments on vested restricted shares	(688)	(419)
Net cash (used in) financing activities	(18,795)	(26,640)
Increase in cash and cash equivalents	1,205	225
Cash and cash equivalents at beginning of the period	3,365	2,184
Cash and cash equivalents at end of the period	4,570	2,409
SUPPLEMENTAL INFORMATION
Interest paid	1,470	1,079
Cash paid for income taxes, net	3,273	2,911
Capital expenditures in accounts payable	$ 260	$ 140

Restructuring (Roll-forward Of Accrued Restructuring Costs) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2024
Restructuring Cost and Reserve [Line Items]
Costs incurred		$ 2,627
Expenses (paid)		(802)
Accrual, Ending balance	$ 1,825	1,825
One-Time Employee Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Costs incurred	2,409	2,409
Expenses (paid)		(694)
Accrual, Ending balance	1,715	1,715
Other Associated Costs [Member]
Restructuring Cost and Reserve [Line Items]
Costs incurred	218	218
Expenses (paid)		(108)
Accrual, Ending balance	$ 110	$ 110

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2024	Jun. 30, 2023
CURRENT ASSETS:
Cash and cash equivalents	$ 4,570	$ 3,365
Trade receivables - less allowances: March 31, 2024, $2,451, June 30, 2023, $2,600	38,884	38,168
Inventories	96,589	122,076
Other	9,235	6,417
Assets held for sale	616	616
Total current assets	149,894	170,642
NONCURRENT ASSETS:
Property, plant and equipment, net	39,963	38,652
Operating lease right-of-use assets	63,398	68,294
Deferred income taxes	7,080	7,154
Other assets	13,431	5,808
TOTAL ASSETS	273,766	290,550
CURRENT LIABILITIES:
Accounts payable - trade	21,655	24,745
Current portion of operating lease liabilities	7,615	7,179
Accrued liabilities:
Payroll and related items	9,306	9,955
Insurance	2,214	1,920
Restructuring costs	1,825
Sales and advertising related items	4,568	5,358
Other	6,554	5,948
Total current liabilities	53,737	55,105
LONG-TERM LIABILITIES:
Operating lease liabilities, less current maturities	59,892	64,974
Line of credit	14,184	28,273
Other liabilities	689	577
Total liabilities	128,502	148,929
SHAREHOLDERS' EQUITY:
Common stock - $1 par value; authorized 15,000 shares; 8,363 shares issued and 5,156 outstanding as of March 31, 2024; 8,292 shares issued and 5,174 outstanding as of June 30, 2023	8,363	8,292
Additional paid-in capital	38,656	36,605
Treasury stock, at cost; 3,207 shares, and 3,118 shares as of March 31, 2024, and June 30, 2023, respectively	(71,732)	(70,072)
Retained earnings	169,977	166,796
Total shareholders' equity	145,264	141,621
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 273,766	$ 290,550

Consolidated Statements Of Income And Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Consolidated Statements Of Income And Comprehensive Income [Abstract]
Net sales	$ 107,219	$ 99,052	$ 301,930	$ 287,873
Cost of goods sold	83,902	80,407	238,253	238,041
Gross profit	23,317	18,645	63,677	49,832
Selling, general and administrative expenses	17,708	16,529	51,566	45,967
Environmental remediation				(2,788)
Restructuring expense	2,627		2,627
Other expense				347
Operating income	2,982	2,116	9,484	6,306
Interest expense	336	260	1,395	897
Other (income)	(14)	(12)	(14)	(11)
Income before income taxes	2,660	1,868	8,103	5,420
Income tax provision	857	393	2,497	803
Net income and comprehensive income	$ 1,803	$ 1,475	$ 5,606	$ 4,617
Weighted average number of common shares outstanding:
Basic	5,154	5,179	5,175	5,249
Diluted	5,448	5,352	5,410	5,427
Earnings per share of common stock:
Basic	$ 0.35	$ 0.28	$ 1.08	$ 0.88
Diluted	$ 0.33	$ 0.28	$ 1.04	$ 0.85

Inventories (Tables)

9 Months Ended

Mar. 31, 2024

Inventories [Abstract]

Comparison Of Inventories


	March 31,		June 30,
(in thousands)	2024		2023
Raw materials	$	16,752	$	18,616
Work in process and finished parts		3,127		3,741
Finished goods		76,710		99,719
Total	$	96,589	$	122,076

Inventories

9 Months Ended

Mar. 31, 2024

Inventories [Abstract]

Inventories

2. INVENTORIES

A comparison of inventories is as follows:


	March 31,		June 30,
(in thousands)	2024		2023
Raw materials	$	16,752	$	18,616
Work in process and finished parts		3,127		3,741
Finished goods		76,710		99,719
Total	$	96,589	$	122,076

Leases (Components Of Leases Excluding Impact Of Sublease Income) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Leases [Abstract]
Operating lease expense	$ 2,394	$ 2,700	$ 7,202	$ 8,066
Variable lease expense	518	482	1,488	1,390
Total lease expense	$ 2,912	$ 3,182	$ 8,690	$ 9,456

Summary Of Significant Accounting Policies (Policies)	9 Months Ended
Summary Of Significant Accounting Policies (Policies)	Mar. 31, 2024
Basis Of Presentation And Description Of Business [Abstract]
Description Of Business	DESCRIPTION OF BUSINESS – Flexsteel Industries, Inc. and Subsidiaries (the “Company” or “Flexsteel” or “Our”) is one of the largest manufacturers, importers, and marketers of furniture products in the United States. Product offerings include a wide variety of furniture such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture. A featured component in most of the upholstered furniture is a unique steel drop-in seat spring from which the name “Flexsteel” is derived. The Company distributes its products throughout the United States through its e-commerce channel and direct sales force.
Basis Of Presentation	BASIS OF PRESENTATION – The unaudited Consolidated Financial Statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The information contained in the Consolidated Financial Statements includes normal recurring adjustments and reflects all adjustments, which are, in the opinion of management, necessary for a fair presentation of such Consolidated Financial Statements. Operating results for the three and nine months ended March 31, 2024, are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2024. Certain information and footnote disclosures normally included in the Consolidated Financial Statements prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States of America have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. Except to the extent updated or described below, the significant accounting policies in Note 1 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended June 30, 2023, appropriately represent, in all material respects, the current status of accounting policies.

Stock-Based Compensation (Schedule Of Unvested Shares - Long-Term Incentive Compensation Plan RSUs) (Details) - Long-Term Incentive Compensation Plan [Member] shares in Thousands	9 Months Ended
	Mar. 31, 2024 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at the beginning of period, Shares \| shares	290
Granted, Shares \| shares	165
Vested, Shares \| shares	(75)
Forfeited, Shares \| shares	(25)
Unvested at the end of period, Shares \| shares	355
Unvested at the beginning of period, Weighted average fair value per share \| $ / shares	$ 20.65
Granted, Weighted average fair value per share \| $ / shares	18.91
Vested, Weighted average fair value per share \| $ / shares	12.15
Forfeited, Weighted average fair value per share \| $ / shares	16.28
Unvested at the end of period, Weighted average fair value \| $ / shares	$ 21.94
Time Based Vest [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at the beginning of period, Shares \| shares	79
Granted, Shares \| shares	66
Forfeited, Shares \| shares	(3)
Unvested at the end of period, Shares \| shares	142
Unvested at the beginning of period, Weighted average fair value per share \| $ / shares	$ 24.56
Granted, Weighted average fair value per share \| $ / shares	18.91
Forfeited, Weighted average fair value per share \| $ / shares	21.45
Unvested at the end of period, Weighted average fair value \| $ / shares	$ 22
Performance Based Vest [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at the beginning of period, Shares \| shares	211
Granted, Shares \| shares	99
Vested, Shares \| shares	(75)
Forfeited, Shares \| shares	(22)
Unvested at the end of period, Shares \| shares	213
Unvested at the beginning of period, Weighted average fair value per share \| $ / shares	$ 19.19
Granted, Weighted average fair value per share \| $ / shares	18.91
Vested, Weighted average fair value per share \| $ / shares	12.15
Forfeited, Weighted average fair value per share \| $ / shares	15.57
Unvested at the end of period, Weighted average fair value \| $ / shares	$ 21.91

Stock-Based Compensation (Schedule Of Unvested Shares - PSUs And RSUs) (Details) - Restricted Shares And RSUs [Member] shares in Thousands	9 Months Ended
	Mar. 31, 2024 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at the beginning of period, Shares \| shares	74
Granted, Shares \| shares	4
Vested, Shares \| shares	(8)
Forfeited, Shares \| shares	(1)
Unvested at the end of period, Shares \| shares	69
Unvested at the beginning of period, Weighted average fair value per share \| $ / shares	$ 21.67
Granted, Weighted average fair value per share \| $ / shares	20.06
Vested, Weighted average fair value per share \| $ / shares	28.66
Forfeited, Weighted average fair value per share \| $ / shares	20.33
Unvested at the end of period, Weighted average fair value \| $ / shares	$ 20.79

Restructuring (Summary Of Restructuring Costs) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2024	Mar. 31, 2024
Restructuring Cost and Reserve [Line Items]
Restructuring costs		$ 2,627
Operating Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 2,627	2,627
One-Time Employee Termination Benefits [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	2,409	2,409
Other Associated Costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	218	218
Total Restructuring And Related Expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 2,627	$ 2,627

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References + Details

Assets Held For Sale (Summary Of Assets Held For Sale) (Details) - Disposal Group, Held-for-sale, Not Discontinued Operations [Member] $ in Thousands	Mar. 31, 2024 USD ($)
Long Lived Assets Held-for-sale [Line Items]
Cost	$ 5,309
Accumulated Depreciation	(4,693)
Net Book Value	616
Buildings & Building Improvements [Member] \| Starkville, Mississippi [Member]
Long Lived Assets Held-for-sale [Line Items]
Cost	4,615
Accumulated Depreciation	(4,254)
Net Book Value	361
Land & Land Improvements [Member] \| Starkville, Mississippi [Member]
Long Lived Assets Held-for-sale [Line Items]
Cost	694
Accumulated Depreciation	(439)
Net Book Value	$ 255

Stock-Based Compensation (Schedule Of Stock Option Plans) (Details) shares in Thousands	9 Months Ended
	Mar. 31, 2024 $ / shares shares
Stock-Based Compensation [Abstract]
Shares, Outstanding at beginning balance \| shares	202
Shares, Exercised \| shares	(3)
Shares, Cancelled \| shares	(18)
Shares, Outstanding at ending balance \| shares	181
Weighted Average Exercise Price, Outstanding at beginning balance \| $ / shares	$ 20.98
Weighted Average Exercise Price, Exercised \| $ / shares	32.13
Weighted Average Exercise Price, Canceled \| $ / shares	27.4
Weighted Average Exercise Price, Outstanding at ending balance \| $ / shares	$ 20.15

Stock-Based Compensation

9 Months Ended

Mar. 31, 2024

Stock-Based Compensation [Abstract]

Stock-Based Compensation

8. STOCK-BASED COMPENSATION

The Company accounts for its stock-based compensation plans in accordance with ASC 718, Stock Compensation, which requires the Company to measure all share-based payments at grant date fair value and recognize the cost over the requisite service period. Restricted shares and restricted stock units (“RSUs”) generally vest over 1 to 3 years. Stock options are granted at an exercise price equal to the fair value of the Company’s common stock price at the grant date and are exercisable for up to 10 years from the date of grant. Stock-based compensation is included in selling, general and administrative expenses on the Consolidated Statements of Income and Comprehensive Income. Forfeitures are recognized as incurred.

The following table is a summary of total stock-based compensation expenses for the three and nine months ended March 31, 2024 and 2023.


	Three Months Ended				Nine Months Ended
	March 31,				March 31,
(in thousands)	2024		2023		2024		2023
Total stock-based compensation expense	$	877	$	802	$	2,722	$	2,472

On December 14, 2022, the Company’s shareholders approved the Flexsteel Industries, Inc. 2022 Equity Incentive Plan (“2022 Plan”).

The 2022 Plan replaced the Long-Term Incentive Compensation Plan (“LTIP”) and the 2013 Omnibus Stock Plan (collectively, the “Prior Plans”). No further awards will be made under either of the Prior Plans, but these Prior Plans will continue to govern awards previously granted under them.

(1)

2022 Equity Incentive Plan

The 2022 Plan is a long-term incentive plan pursuant to which awards may be granted to certain employees, independent contractors and directors of the Company, in the form of stock options, stock appreciation rights, restricted stock, restricted stock units, performance units, performance shares or other stock-based awards. For periods beginning on or after July 1, 2023, restricted stock units ("RSUs") and performance stock units ("PSUs") granted to officers and key employees as part of long-term compensation programs are issued from the 2022 Plan. RSUs and PSUs awarded from the 2022 Plan are included in the Long-Term Incentive Compensation or Restricted Share and RSUs tables below.

(2)

Long-Term Incentive Compensation Plan

The LTIP provided for PSUs to be awarded to officers and key employees based on performance goals set by the Compensation Committee of the Board of Directors (the “Committee”). In conjunction with each grant of PSUs, the Committee granted RSUs under the 2013 Omnibus Stock Plan that vested at the end of three years. No further awards will be issued under this plan.

(3)

2013 Omnibus Stock Plan

The 2013 Omnibus Stock Plan was for key employees, officers and directors and provided for the granting of incentive and nonqualified stock options, restricted stock, restricted stock units, stock appreciation rights, and performance units. No further awards will be issued under this plan.

Long-Term Incentive Compensation

The table below sets forth, as of March 31, 2024, the number of unvested PSUs granted at the target performance level for the 2022-2024, 2023-2025, and 2024-2026 performance periods under the 2022 Plan and LTIP (as applicable) and the number of unvested RSUs granted in conjunction with the PSUs. For PSUs awarded for the three year performance period ending June 30, 2024 participants may earn the award based on a cumulative three year performance goal. For PSUs awarded for the three year performance periods ending June 30, 2025 and 2026, participants may earn one-third of the award in each of the three years based on meeting performance goals for that year. The Committee selected Adjusted Earnings Before Interest and Tax based on a defined percentage growth as the performance metric for the performance periods ending June 30, 2024, 2025, and 2026.


	Time-Based Vest (RSUs)					Performance-Based Vest (PSUs)					Total
				Weighted Average					Weighted Average					Weighted Average
				Fair Value					Fair Value					Fair Value
(shares in thousands)	Shares			Per Share		Shares			Per Share		Shares			Per Share
Unvested as of June 30, 2023		79		$	24.56		211		$	19.19		290		$	20.65
Granted		66			18.91		99			18.91		165			18.91
Vested		—			—		(75	)		12.15		(75	)		12.15
Forfeited		(3	)		21.45		(22	)		15.57		(25	)		16.28
Unvested as of March 31, 2024		142		$	22.00		213		$	21.91		355		$	21.94

Total unrecognized stock-based compensation related to the unvested PSUs at the target performance level and the related unvested RSUs was $3.5 million as of March 31, 2024, which is expected to be recognized over a weighted-average period of 1.7 years.

Restricted Shares and RSUs

A summary of the activity in the Company’s unvested restricted shares and unvested RSUs (not granted in conjunction with PSUs) as of March 31, 2024, is as follows:


				Weighted Average
	Shares			Fair Value
	(in thousands)			Per Share
Unvested as of June 30, 2023		74		$	21.67
Granted		4			20.06
Vested		(8	)		28.66
Forfeited		(1	)		20.33
Unvested as of March 31, 2024		69		$	20.79

Total unrecognized stock-based compensation related to unvested restricted shares and unvested RSUs (not granted in conjunction with the PSUs) was $0.3 million as of March 31, 2024, which is expected to be recognized over a weighted-average period of 0.6 year.

Options

A summary of the activity of the Company’s stock option plans as of March 31, 2024, is presented below:


				Weighted
	Shares			Average
	(in thousands)			Exercise Price
Outstanding at June 30, 2023		202		$	20.98
Exercised		(3	)	$	32.13
Canceled		(18	)		27.40
Outstanding at March 31, 2024		181		$	20.15

The following table summarizes information for options outstanding at March 31, 2024:


		Options		Weighted Average
Range of		Outstanding		Remaining		Exercise
Prices		(in thousands)		Life (Years)		Price
$	9.97 - 15.14		97		5.9	$	12.64
	18.30 - 19.72		6		7.2		18.30
	21.96 - 27.57		39		4.8		22.64
	31.06 - 32.80		26		2.1		32.29
	43.09 - 47.45		13		2.5		45.28
$	9.97 - 47.45		181		4.9	$	20.15

There is no unrecognized stock-based compensation expense related to these options as of March 31, 2024.

Stock-based compensation granted outside a plan

During the quarter ended June 30, 2020, the Company awarded its former Chief Financial Officer/Chief Operating Officer (current President) 79,000 options outside of any Company stock plans. All 79,000 options remain outstanding as of March 31, 2024, with an exercise price of $9.97 and a remaining life of 6.0 years. There is no remaining unrecognized stock-based compensation expense related to these options.

During the quarter ended December 31, 2018, the Company awarded its Chief Executive Officer 55,000 options outside of any Company stock plans. All 55,000 options remain outstanding as of March 31, 2024, with an exercise price of $21.96 and a remaining life of 4.7 years. There is no remaining unrecognized stock-based compensation expense related to these options.

Income Taxes (Narrative) (Details)	3 Months Ended		9 Months Ended
Income Taxes (Narrative) (Details)	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Income Taxes [Abstract]
Effective Income Tax Rate, Continuing Operations	32.20%	21.00%	30.80%	14.80%
Effective federal statutory income tax rate	21.00%	21.00%	21.00%	21.00%

Stock-Based Compensation (Tables)

9 Months Ended

Mar. 31, 2024

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary Of Total Stock-Based Compensation Expense


	Three Months Ended				Nine Months Ended
	March 31,				March 31,
(in thousands)	2024		2023		2024		2023
Total stock-based compensation expense	$	877	$	802	$	2,722	$	2,472

Schedule Of Stock Option Plans


				Weighted
	Shares			Average
	(in thousands)			Exercise Price
Outstanding at June 30, 2023		202		$	20.98
Exercised		(3	)	$	32.13
Canceled		(18	)		27.40
Outstanding at March 31, 2024		181		$	20.15

Schedule Of Options Outstanding And Exercisable


		Options		Weighted Average
Range of		Outstanding		Remaining		Exercise
Prices		(in thousands)		Life (Years)		Price
$	9.97 - 15.14		97		5.9	$	12.64
	18.30 - 19.72		6		7.2		18.30
	21.96 - 27.57		39		4.8		22.64
	31.06 - 32.80		26		2.1		32.29
	43.09 - 47.45		13		2.5		45.28
$	9.97 - 47.45		181		4.9	$	20.15

Restricted Shares And RSUs [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule Of Unvested Shares - PSUs And RSUs


				Weighted Average
	Shares			Fair Value
	(in thousands)			Per Share
Unvested as of June 30, 2023		74		$	21.67
Granted		4			20.06
Vested		(8	)		28.66
Forfeited		(1	)		20.33
Unvested as of March 31, 2024		69		$	20.79

Long-Term Incentive Compensation Plan [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule Of Unvested Shares - PSUs And RSUs


	Time-Based Vest (RSUs)					Performance-Based Vest (PSUs)					Total
				Weighted Average					Weighted Average					Weighted Average
				Fair Value					Fair Value					Fair Value
(shares in thousands)	Shares			Per Share		Shares			Per Share		Shares			Per Share
Unvested as of June 30, 2023		79		$	24.56		211		$	19.19		290		$	20.65
Granted		66			18.91		99			18.91		165			18.91
Vested		—			—		(75	)		12.15		(75	)		12.15
Forfeited		(3	)		21.45		(22	)		15.57		(25	)		16.28
Unvested as of March 31, 2024		142		$	22.00		213		$	21.91		355		$	21.94

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 1D
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 35
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480483/718-10-35-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)(iv)(04)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(01)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(02)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(2)(iii)(03)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(ii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iii)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(iv)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (f)(2)(v)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480429/718-10-50-2

+ Details

Earnings Per Share (Narrative) (Details) - $ / shares	3 Months Ended		9 Months Ended
Earnings Per Share (Narrative) (Details) - $ / shares	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share
Dividends declared per common share	$ 0.15	$ 0.15	$ 0.45	$ 0.45

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Dec. 31, 2018	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options remain outstanding			181,000		202,000
Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period options are exercisable			10 years
Restricted Shares And RSUs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized stock-based compensation related to unvested shares			$ 300
Total unrecognized stock-based compensation, expected period			7 months 6 days
Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized stock-based compensation related to unvested shares		$ 0
Former Chief Financial Officer/Chief Operating Officer (Current President) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized stock-based compensation related to unvested shares	$ 0
Long-Term Incentive Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PSU award description			For PSUs awarded for the three year performance period ending June 30, 2024 participants may earn the award based on a cumulative three year performance goal. For PSUs awarded for the three year performance periods ending June 30, 2025 and 2026, participants may earn one-third of the award in each of the three years based on meeting performance goals for that year. The Committee selected Adjusted Earnings Before Interest and Tax based on a defined percentage growth as the performance metric for the performance periods ending June 30, 2024, 2025, and 2026.
Long-Term Incentive Compensation Plan [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized stock-based compensation related to unvested shares			$ 3,500
Total unrecognized stock-based compensation, expected period			1 year 8 months 12 days
Long-Term Incentive Compensation Plan [Member] \| 2024, 2025, and 2026 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for performance awards, years			3 years
Long-Term Incentive Compensation Plan [Member] \| 2024, 2025, and 2026 [Member] \| Scenario, Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award			33.00%
Stock Option Plan 2013 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for future grants				0
Omnibus Stock Plan [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period			3 years
Shares available for future grants			0
Stock-based Compensation Outside A Plan [Member] \| Chief Executive Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options issued under stock option plans		55,000,000
Weighted average exercise price of options			$ 21.96
Remaining life			4 years 8 months 12 days
Options remain outstanding			55,000,000
Stock-based Compensation Outside A Plan [Member] \| Former Chief Financial Officer/Chief Operating Officer (Current President) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options issued under stock option plans	79,000
Weighted average exercise price of options			$ 9.97
Remaining life			6 years
Options remain outstanding			79,000
Minimum [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period			1 year
Maximum [Member] \| Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period			3 years

Basis Of Presentation And Description Of Business	9 Months Ended
Basis Of Presentation And Description Of Business	Mar. 31, 2024
Basis Of Presentation And Description Of Business [Abstract]
Basis Of Presentation And Description Of Business	1. BASIS OF PRESENTATION AND DESCRIPTION OF BUSINESS DESCRIPTION OF BUSINESS – Flexsteel Industries, Inc. and Subsidiaries (the “Company” or “Flexsteel” or “Our”) is one of the largest manufacturers, importers, and marketers of furniture products in the United States. Product offerings include a wide variety of furniture such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture. A featured component in most of the upholstered furniture is a unique steel drop-in seat spring from which the name “Flexsteel” is derived. The Company distributes its products throughout the United States through its e-commerce channel and direct sales force. BASIS OF PRESENTATION – The unaudited Consolidated Financial Statements included herein have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The information contained in the Consolidated Financial Statements includes normal recurring adjustments and reflects all adjustments, which are, in the opinion of management, necessary for a fair presentation of such Consolidated Financial Statements. Operating results for the three and nine months ended March 31, 2024, are not necessarily indicative of the results that may be expected for the fiscal year ending June 30, 2024. Certain information and footnote disclosures normally included in the Consolidated Financial Statements prepared in accordance with generally accepted accounting principles (“GAAP”) in the United States of America have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading. Except to the extent updated or described below, the significant accounting policies in Note 1 to the Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended June 30, 2023, appropriately represent, in all material respects, the current status of accounting policies.

Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) - $ / shares	Jun. 30, 2023	Jun. 30, 2022
Common stock, par value	$ 1
Total Par Value Of Common Shares [Member]
Common stock, par value	$ 1	$ 1

Earnings Per Share (Tables)

9 Months Ended

Mar. 31, 2024

Earnings Per Share

Schedule Of Earnings Per Share, Basic And Diluted


	Three Months Ended				Nine Months Ended
	March 31,				March 31,
(in thousands)	2024		2023		2024		2023
Basic shares		5,154		5,179		5,175		5,249
Potential common shares:
Stock options		151		75		103		60
Non-vested restricted stock units and restricted shares		143		98		132		118
Diluted shares		5,448		5,352		5,410		5,427

Anti-dilutive shares		12		154		48		161

Consolidated Statements Of Changes In Shareholders' Equity - USD ($) $ in Thousands	Total	Total Par Value Of Common Shares [Member]	Additional Paid-In Capital [Member]	Treasury Stock [Member]	Retained Earnings [Member]
Balance, beginning at Jun. 30, 2022	$ 131,560	$ 8,190	$ 34,467	$ (66,372)	$ 155,275
Stock-based compensation	825	8	817
Vesting of restricted stock units and restricted shares	(350)	28	(378)
Treasury stock purchases	(403)			(403)
Cash dividends declared	(833)				(833)
Net income	289				289
Balance, ending at Sep. 30, 2022	131,088	8,226	34,906	(66,775)	154,731
Balance, beginning at Jun. 30, 2022	131,560	8,190	34,467	(66,372)	155,275
Net income	4,617
Balance, ending at Mar. 31, 2023	132,803	8,247	36,463	(69,340)	157,433
Balance, beginning at Sep. 30, 2022	131,088	8,226	34,906	(66,775)	154,731
Stock-based compensation	845	10	835
Vesting of restricted stock units and restricted shares	(57)	3	(60)
Treasury stock purchases	(1,823)			(1,823)
Cash dividends declared	(819)				(819)
Net income	2,853				2,853
Balance, ending at Dec. 31, 2022	132,087	8,239	35,681	(68,598)	156,765
Stock-based compensation	802	8	794
Vesting of restricted stock units and restricted shares	(12)		(12)
Treasury stock purchases	(742)			(742)
Cash dividends declared	(807)				(807)
Net income	1,475				1,475
Balance, ending at Mar. 31, 2023	132,803	8,247	36,463	(69,340)	157,433
Balance, beginning at Jun. 30, 2023	141,621	8,292	36,605	(70,072)	166,796
Stock-based compensation	911	8	903
Vesting of restricted stock units and restricted shares	(647)	44	(691)
Treasury stock purchases	(455)			(455)
Cash dividends declared	(815)				(815)
Net income	752				752
Balance, ending at Sep. 30, 2023	141,367	8,344	36,817	(70,527)	166,733
Balance, beginning at Jun. 30, 2023	141,621	8,292	36,605	(70,072)	166,796
Net income	5,606
Balance, ending at Mar. 31, 2024	145,264	8,363	38,656	(71,732)	169,977
Balance, beginning at Sep. 30, 2023	141,367	8,344	36,817	(70,527)	166,733
Stock-based compensation	934	9	925
Vesting of restricted stock units and restricted shares	(41)	4	(45)
Treasury stock purchases	(972)			(972)
Cash dividends declared	(806)				(806)
Net income	3,051				3,051
Balance, ending at Dec. 31, 2023	143,533	8,357	37,697	(71,499)	168,978
Stock-based compensation	877	3	874
Stock options exercised	88	3	85
Treasury stock purchases	(233)			(233)
Cash dividends declared	(804)				(804)
Net income	1,803				1,803
Balance, ending at Mar. 31, 2024	$ 145,264	$ 8,363	$ 38,656	$ (71,732)	$ 169,977

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 65
-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480175/815-40-65-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-11

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 250
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-4

Reference 13: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section 45
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(18))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-22

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(9))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(1)(d))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(i))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(A))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iii)(B))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 27: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 28: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B

Reference 29: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-30

Reference 30: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 31: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 60B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B

Reference 32: http://www.xbrl.org/2003/role/exampleRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 31
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-31

Reference 33: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482810/280-10-50-32

Reference 34: http://www.xbrl.org/2003/role/disclosureRef
-Topic 205
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 230
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 28
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

Reference 37: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 1B
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B

Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 220
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(20))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2

Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 942
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(22))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

- Definition

Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 852
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481372/852-10-55-10

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 946
-SubTopic 830
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480167/946-830-55-12

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-04(19))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.6-05(4))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(4)(b))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(6))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 3
-Subparagraph (SX 210.6-09(7))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481687/323-10-50-3

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 28
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-28

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(29))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(31))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(30))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 4.E)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480418/310-10-S99-2

+ Details

Earnings Per Share (Schedule Of Earnings Per Share, Basic And Diluted) (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share
Basic shares	5,154	5,179	5,175	5,249
Stock options	151	75	103	60
Non-vested restricted stock units and restricted shares	143	98	132	118
Diluted shares	5,448	5,352	5,410	5,427
Anti-dilutive shares	12	154	48	161

Leases

9 Months Ended

Mar. 31, 2024

Leases [Abstract]

Leases

4. LEASES

The Company accounts for its leases in accordance with ASU No. 2016-02, Leases (Topic 842) (“ASC 842”). ASC 842 requires lessees to (i) recognize a right-of-use asset (“ROU asset”) and a lease liability that is measured at the present value of the remaining lease payments on the Consolidated Balance Sheets, (ii) recognize a single lease cost, calculated over the lease term on a straight-line basis and (iii) classify lease-related cash payments within operating and financing activities. The Company made an accounting policy election to not recognize short-term leases on the Consolidated Balance Sheets and all non-lease components, such as common area maintenance, were excluded. At any given time during the lease term, the lease liability represents the present value of the remaining lease payments,

and the ROU asset is measured as the amount of the lease liability, adjusted for pre-paid rent, unamortized initial direct costs, and the remaining balance of lease incentives received. Both the lease ROU asset and liability are reduced to zero at the end of the lease term.

The Company leases distribution centers and warehouses, manufacturing facilities, showrooms, and office space. At the lease inception date, the Company determines if an arrangement is, or contains a lease. Some of the Company’s leases include options to renew at similar terms. The Company assesses these options to determine if the Company is reasonably certain of exercising these options based on relevant economic and financial factors. Options that meet these criteria are included in the lease term at the lease commencement date.

For purposes of measuring the Company’s ROU asset and lease liability, the discount rate utilized by the Company was based on the average interest rates effective for the Company’s line of credit. Some of the Company’s leases contain variable rent payments, including common area maintenance and utilities. Due to the variable nature of these costs, they are not included in the measurement of the ROU asset and lease liability.

On August 20, 2021, Flexsteel entered into a lease agreement for the construction of a 507,830 square foot manufacturing facility in Mexicali, Mexico. The lease commencement date under ASC 842 guidance was July 1, 2022, the date the lessor made the building available for use by the Company for purposes of completing any leasehold improvements required by the Company prior to beginning operations. The 12-year lease ends on June 30, 2034, with options for two five-year extensions. Annual base rent under the lease is $3.2 million plus taxes, insurance and common area maintenance costs. As of March 31, 2024, the Company has not begun operations in the Mexicali facility. On May 3, 2023, the Company entered into a sublease with a third party for 105,000 square feet of the Mexicali facility with a term of 12 months. Annual rent net of broker's fees under the sublease is $1 million, plus a proportionate share of taxes, insurance, and common area maintenance. On October 2, 2023, the Company entered into a sublease with a third party for 339,413 square feet of the facility with an initial term of 12 months with four 6-month extensions. Annual rent net of broker's fees under the sublease is $2.2 million, plus a proportionate share of taxes, insurance, and common area maintenance.

At March 31, 2024, the Company determined that no impairment indicators exist with regard to the Mexicali lease given the current and expected sublease tenants and plans for future operations in the facility. At March 31, 2024, the right-of-use asset associated specifically with the Mexicali lease is $30.5 million and associated lease liability is $32.1 million. Sublease income net of broker's fees received from the sub-tenant is offset against operating lease expense in the Company’s Consolidated Statements of Income.

The components of the Company’s leases excluding the impact of sublease income reflected on the Company’s Consolidated Statements of Income were as follows:


	Three Months Ended				Nine Months Ended
	March 31,				March 31,
(in thousands)	2024		2023		2024		2023
Operating lease expense	$	2,394	$	2,700	$	7,202	$	8,066
Variable lease expense		518		482		1,488		1,390
Total lease expense	$	2,912	$	3,182	$	8,690	$	9,456

Other information related to leases and future minimum lease payments under non-cancelable operating leases were as follows:


	Nine Months Ended
	March 31, 2024			March 31, 2023
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	7,069		$	6,575

Cash received from subleasing of operating lease:
Operating cash flows received from subleasing of operating lease	$	1,975		$	—

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	797		$	35,305

Weighted-average remaining lease term (in years):
Operating leases		8.4			9.4

Weighted-average discount rate:
Operating leases		3.1	%		2.9	%

Future minimum lease payments under non-cancelable operating leases were as follows:


	March 31, 2024
Remaining payments in FY2024	$	2,432
FY2025		9,418
FY2026		9,208
FY2027		9,378
FY2028		9,144
Thereafter		37,040
Total future minimum lease payments	$	76,620
Less imputed interest		9,113
Lease liability	$	67,507

Earnings Per Share

9 Months Ended

Mar. 31, 2024

Earnings Per Share

Earnings Per Share

9. EARNINGS PER SHARE

Basic earnings per share (EPS) of common stock are based on the weighted-average number of common shares outstanding during each period. Diluted earnings per share of common stock include the dilutive effect of potential common shares outstanding. The Company’s potential common shares outstanding are stock options, shares associated with the long-term incentive compensation plans, and non-vested restricted stock units. The Company calculates the dilutive effect of outstanding options and restricted stock units using the treasury stock method. Anti-dilutive options are not included in the computation of diluted EPS when their exercise price is greater than the average closing market price of the common shares.


	Three Months Ended				Nine Months Ended
	March 31,				March 31,
(in thousands)	2024		2023		2024		2023
Basic shares		5,154		5,179		5,175		5,249
Potential common shares:
Stock options		151		75		103		60
Non-vested restricted stock units and restricted shares		143		98		132		118
Diluted shares		5,448		5,352		5,410		5,427

Anti-dilutive shares		12		154		48		161

Cash dividends declared per common share were $0.15 and $0.45 for the three and nine months ended March 31, 2024, respectively, and were $0.15 and $0.45 for the three and nine months ended March 31, 2023, respectively.

Subsequent Events (Narrative) (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Subsequent Event [Line Items]
Restructuring and related expenses	$ 1,825
One -Time Costs
Subsequent Event [Line Items]
Restructuring and related expenses	$ 1,715

Leases (Narrative) (Details) $ in Thousands			9 Months Ended
Leases (Narrative) (Details) $ in Thousands	Oct. 02, 2023 USD ($) ft²	May 03, 2023 USD ($) ft²	Mar. 31, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jul. 01, 2022	Aug. 20, 2021 ft²
Short-term Debt [Line Items]
Lessee, Operating Lease, Term of Contract					12 years
Lessee, Operating Lease, Option to Extend			options for two five-year extensions
Sublease area \| ft²	339,413	105,000
Sublease term		12 months
Sublease initial term	12 months
Sublease extensions	four 6-month extensions
Sublease annual rent	$ 2,200	$ 1,000
Operating lease right-of-use assets			$ 63,398	$ 68,294
Lease liability			67,507
Mexicali, Mexico [Member]
Short-term Debt [Line Items]
Area of Real Estate Property \| ft²						507,830
Annual base rent			3,200
Operating lease right-of-use assets			30,500
Lease liability			$ 32,100

Leases (Tables)

9 Months Ended

Mar. 31, 2024

Leases [Abstract]

Components Of Leases Excluding Impact Of Sublease Income


	Three Months Ended				Nine Months Ended
	March 31,				March 31,
(in thousands)	2024		2023		2024		2023
Operating lease expense	$	2,394	$	2,700	$	7,202	$	8,066
Variable lease expense		518		482		1,488		1,390
Total lease expense	$	2,912	$	3,182	$	8,690	$	9,456

Other Information Related To Leases And Future Minimum Lease Payments


	Nine Months Ended
	March 31, 2024			March 31, 2023
(in thousands)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows paid for operating leases	$	7,069		$	6,575

Cash received from subleasing of operating lease:
Operating cash flows received from subleasing of operating lease	$	1,975		$	—

Right-of-use assets obtained in exchange for lease liabilities:
Operating leases	$	797		$	35,305

Weighted-average remaining lease term (in years):
Operating leases		8.4			9.4

Weighted-average discount rate:
Operating leases		3.1	%		2.9	%

Future Minimum Lease Payments


	March 31, 2024
Remaining payments in FY2024	$	2,432
FY2025		9,418
FY2026		9,208
FY2027		9,378
FY2028		9,144
Thereafter		37,040
Total future minimum lease payments	$	76,620
Less imputed interest		9,113
Lease liability	$	67,507

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Thousands		1 Months Ended	3 Months Ended	9 Months Ended
	Oct. 24, 2022	Apr. 30, 2018	Dec. 31, 2022	Mar. 31, 2023	Jul. 31, 2017	Aug. 31, 2016
Loss Contingencies [Line Items]
Environmental remediation			$ 2,800	$ 2,788
Environmental Protection Agency (EPA) [Member]
Loss Contingencies [Line Items]
Estimated amount of possible loss					$ 5,500	$ 3,600
Settlement	$ 9,800
Estimated cost of remedial work		$ 3,600

Commitments and Contingencies

9 Months Ended

Mar. 31, 2024

Commitments And Contingencies [Abstract]

Commitments And Contingencies

10. COMMITMENTS AND CONTINGENCIES

Environmental Matters – In March 2016, the Company received a General Notice Letter for the Lane Street Groundwater Superfund Site (the “Lane Street Site”) located in Elkhart, Indiana from the U.S. Environmental Protection Agency (EPA). In April 2016, the EPA issued their proposed clean-up plan for groundwater pollution and request for public comment. The Company responded to the request for public comment in May 2016. The EPA issued a Record of Decision selecting a remedy in August 2016 and estimated total costs to remediate of $3.6 million. In July 2017, the EPA issued a Special Notice Letter to the Company demanding that the Company perform the remedy selected and pay for the remediation cost and past response costs of $5.5 million. On October 12, 2017, the Company, after consultation with its insurance carriers, offered an amount, fully reimbursable by insurance coverage, to the EPA to resolve this matter. On November 6, 2017, the settlement offer extended on October 12, 2017, was rejected.

In April 2018, the EPA issued a Unilateral Administrative Order for Remedial Design and Remedial Action (the “Order”) against the Company. The Order was issued under Section 106(a) of the Comprehensive Environmental Response, Compensation and Liability Act (CERCLA), 42 U.S.C. §9606(a). The Order directed the Company to perform remedial design and remedial action for the Lane Street Site. The Order was to be effective May 29, 2018. To ensure completion of the remediation work, the EPA required the Company to secure financial assurance in the initial amount of $3.6 million, which as noted above, was the estimated cost of remedial work. The Company believed that financial assurance was not required because it met the relevant financial test criteria as provided in the Order. In May 2018, the EPA agreed to suspend enforcement of the Order so that the Company could conduct environmental testing upgradient to its former manufacturing location pursuant to an Administrative Order on Consent (AOC). On April 24, 2019, the Company signed an AOC with the EPA to conduct the upgradient investigation. The Company negotiated site access to the upgradient property over a period of months in 2019, followed by completion of sampling activities on that property on September 28-29, 2019. Following multiple exchanges from November 2019 through early 2020, the Company submitted a final and supplemental report to the EPA regarding the results of the upgradient investigation on June 17, 2020.

Despite the Company’s position that it did not cause or contribute to the contamination, the Company reached a settlement with the EPA and the State of Indiana, which was filed as a consent decree in the U.S. District Court for the Northern District of Indiana on October 24, 2022. The consent decree required Flexsteel to pay $9.8 million in resolution of the matter. Flexsteel also reached agreements with its insurance carriers for partial reimbursement of the settlement. During the quarter ended December 31, 2022, the Company made full payment in accordance with the settlement agreement and as a result of insurance proceeds received, the Company recorded income of $2.8 million for the quarter ended December 31, 2022.

Other Proceedings – From time to time, the Company is subject to various other legal proceedings, including lawsuits, which arise out of, and are incidental to, the conduct of the Company’s business. The Company does not consider any of such other proceedings that are currently pending, individually or in the aggregate, to be material to its business or likely to result in a material effect on its consolidated operating results, financial condition, or cash flows.

Credit Arrangements (Narrative) (Details) $ in Millions		9 Months Ended
Credit Arrangements (Narrative) (Details) $ in Millions	Sep. 08, 2021 USD ($)	Mar. 31, 2024 USD ($)
Short-term Debt [Line Items]
Letters of credit outstanding		$ 1.1
Credit Agreement [Member] \| Wells Fargo Bank N.A. [Member]
Short-term Debt [Line Items]
Interest rate	1.50%
Basis spread on interest rate	1.25%
Effective interest rate		6.68%
Debt term	5 years
Fixed coverage ratio		1
Credit Agreement [Member] \| Wells Fargo Bank N.A. [Member] \| Maximum [Member]
Short-term Debt [Line Items]
Credit agreement capacity	$ 85.0
Credit Agreement [Member] \| Wells Fargo Bank N.A. [Member] \| SOFR [Member] \| Maximum [Member]
Short-term Debt [Line Items]
Basis spread on interest rate		1.61%
Credit Agreement [Member] \| Wells Fargo Bank N.A. [Member] \| SOFR [Member] \| Minimum [Member]
Short-term Debt [Line Items]
Basis spread on interest rate		1.36%
Credit Agreement [Member] \| Wells Fargo Bank N.A. [Member] \| Letter Of Credit [Member]
Short-term Debt [Line Items]
Credit agreement capacity	$ 5.0
Secured Credit Agreement [Member] \| Wells Fargo Bank N.A. [Member]
Short-term Debt [Line Items]
Line of credit outstanding		$ 14.2

Credit Arrangements

9 Months Ended

Mar. 31, 2024

Credit Arrangements [Abstract]

Credit Arrangements

6. CREDIT ARRANGEMENTS

On September 8, 2021, the Company, as the borrower, entered into a credit agreement (the “Credit Agreement”) with Wells Fargo Bank, National Association (the “Lender”), and the other lenders party thereto. The Credit Agreement has a five-year term and provides for up to an $85 million revolving line of credit. Subject to certain conditions, the Credit Agreement also provides for the issuance of letters of credit in an aggregate amount up to $5 million which, upon issuance, would be deemed advances under the revolving line of credit. Proceeds of borrowings were used to refinance all indebtedness owed to a prior lender and for working capital purposes. The Company’s obligations under the Credit Agreement are secured by substantially all its assets, excluding real property. The Credit Agreement contains customary representations, warranties, and covenants, including a financial covenant to maintain a fixed coverage ratio of not less than 1.00 to 1.00. In addition, the Loan Agreement places restrictions on the Company’s ability to incur additional indebtedness, to create liens or other encumbrances, to sell or otherwise dispose of assets, and to merge or consolidate with other entities. As of March 31, 2024, management believes the Company was in compliance with all covenants.

On April 18, 2022, the Company, as the borrower, entered into a first amendment to the September 8, 2021, Credit Agreement (“First Amendment to the Credit Agreement”), with the Lender and the lenders thereto. The amendment to the Credit Agreement changed the definition of the term ‘Payment Conditions’ and further defined default or event of default and the calculation of the Fixed Charge Coverage Ratio.

Subject to certain conditions, borrowings under the Credit Agreement initially bore interest at LIBOR plus 1.25% or 1.50% per annum. On May 24, 2023, the Company entered into a second amendment to the Credit Agreement ("Second Amendment to the Credit Agreement") with the Lender to transition the applicable interest rate from LIBOR to Secured Overnight Financing Rate ("SOFR"). Effective as of the date of the Second Amendment to the Credit Agreement, borrowings under the amended Credit Agreement bear interest at SOFR plus 1.36% to 1.61%, or an effective interest rate of 6.68%, on March 31, 2024.

As of March 31, 2024, there was $14.2 million outstanding under the Credit Agreement, exclusive of fees and letters of credit.

Letters of credit outstanding with the Lender as of March 31, 2024, totaled $1.1 million.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//470/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1C

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1E

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481139/470-20-50-1I

+ Details

Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Mar. 31, 2024	May 01, 2024
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Entity File Number	0-5151
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Registrant Name	FLEXSTEEL INDUSTRIES, INC.
Entity Incorporation, State or Country Code	MN
Entity Tax Identification Number	42-0442319
Entity Address, Address Line One	385 BELL STREET
Entity Address, City or Town	DUBUQUE
Entity Address, State or Province	IA
Entity Address, Postal Zip Code	52001-7004
City Area Code	563
Local Phone Number	556-7730
Title of 12(b) Security	Common Stock
Trading Symbol	FLXS
Security Exchange Name	NASDAQ
Entity Central Index Key	0000037472
Current Fiscal Year End Date	--06-30
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		5,156,287
Amendment Flag	false