Guarantor/Non-Guarantor Financial Information (Details) (USD $) | 3 Months Ended | |
In Millions, unless otherwise specified | Mar. 31, 2015 | Mar. 31, 2014 | Dec. 31, 2014 |
Condensed Financial Statements, Captions [Line Items] | | | | | |
Ownership percentage by parent (in hundredths) | 100.00% | | | | |
Supplemental condensed consolidated statements of operations and comprehensive income [Abstract] | | | | | |
Net sales | $739.50 | | $701.90 | | |
Cost of sales | 460.8 | | 432.4 | | |
Gross profit | 278.7 | | 269.5 | | |
Selling and marketing expenses | 153.8 | | 143 | | |
General, administrative and other | 77.7 | | 70.3 | | |
Equity income in earnings of unconsolidated affiliates | -3 | | -1.7 | | |
Royalty income, net of royalty expense | -4.2 | | -4.5 | | |
Operating (loss) income | 54.4 | | 62.4 | | |
Other expense, net: | | | | | |
Interest expense, net | 20.4 | | 22.2 | | |
Other (income), net | -1.3 | | 1 | | |
Total other expense | 19.1 | | 23.2 | | |
Income before income taxes | 35.3 | | 39.2 | | |
Income tax benefit (provision) | -10.3 | | -11.5 | | |
Net income before non-controlling interest | 25 | | 27.7 | | |
Less: net income attributable to non-controlling interest | 1.6 | [1] | 0.3 | [1] | |
Net income attributable to Tempur Sealy International, Inc. | 23.4 | | 27.4 | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | -11.2 | | 29.5 | | |
Current Assets: | | | | | |
Cash and cash equivalents | 45 | | 79.7 | | |
Accounts receivable, net | 390.1 | | | | 385.8 |
Inventories, net | 226.9 | | | | 217.2 |
Prepaid expenses and other current assets | 55.9 | | | | 56.5 |
Deferred income taxes | 53.8 | | | | 44.4 |
Total Current Assets | 771.7 | | | | 766.4 |
Property, plant and equipment, net | 353.1 | | | | 355.6 |
Goodwill | 718.3 | | | | 736.5 |
Other intangible assets, net | 715.6 | | | | 727.1 |
Deferred tax asset | 8.7 | | | | 8.6 |
Other non-current assets | 87.7 | | | | 68.4 |
Total Assets | 2,655.10 | | | | 2,662.60 |
Current Liabilities: | | | | | |
Accounts payable | 236.6 | | | | 226.4 |
Accrued expenses and other current liabilities | 220 | | | | 233.3 |
Deferred income taxes | 0.2 | | | | 0.2 |
Income taxes payable | 9.2 | | | | 12 |
Current portion of long-term debt | 70.1 | | | | 66.4 |
Total Current Liabilities | 536.1 | | | | 538.3 |
Long-term debt | 1,532.50 | | | | 1,535.90 |
Deferred income taxes | 259.9 | | | | 258.8 |
Other non-current liabilities | 117.3 | | | | 114.3 |
Total Liabilities | 2,445.80 | | | | 2,447.30 |
Total Stockholders’ Equity | 194.5 | | | | 202.7 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity | 2,655.10 | | | | 2,662.60 |
Supplemental condensed consolidated statements of cash flows [Abstract] | | | | | |
Net cash (used in) provided by operating activities | -6.4 | | -1.6 | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | |
Purchases of property, plant and equipment | -15.4 | | -7.8 | | |
Other | 0 | | -0.8 | | |
Net cash used in investing activities | -15.4 | | -8.6 | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | |
Proceeds from borrowings under long-term debt obligations | 97.9 | | 74.5 | | |
Repayments of borrowings under long-term debt obligations | -98.8 | | -66.5 | | |
Proceeds from exercise of stock options | 1.6 | | 1.7 | | |
Excess tax benefit from stock based compensation | 0 | | 0.9 | | |
Treasury shares repurchased | -1.1 | | -2.2 | | |
Other | 0.2 | | 0.1 | | |
Net cash (used in) provided by financing activities | -0.2 | | 8.5 | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | 4.5 | | 0.4 | | |
Decrease in cash and cash equivalents | -17.5 | | -1.3 | | |
CASH AND CASH EQUIVALENTS, end of period | 62.5 | | 81 | | |
CASH AND CASH EQUIVALENTS, end of period | 45 | | 79.7 | | |
Tempur Sealy International, Inc. (Ultimate Parent) | | | | | |
Supplemental condensed consolidated statements of operations and comprehensive income [Abstract] | | | | | |
Net sales | 0 | | 0 | | |
Cost of sales | 0 | | 0 | | |
Gross profit | 0 | | 0 | | |
Selling and marketing expenses | 0.8 | | 0.5 | | |
General, administrative and other | 3.6 | | 4.2 | | |
Equity income in earnings of unconsolidated affiliates | 0 | | 0 | | |
Royalty income, net of royalty expense | 0 | | 0 | | |
Operating (loss) income | -4.4 | | -4.7 | | |
Other expense, net: | | | | | |
Third party interest expense, net | 6.7 | | 6.8 | | |
Intercompany interest expense (income), net | 8.2 | | 8 | | |
Interest expense, net | 14.9 | | 14.8 | | |
Other (income), net | 0 | | 0 | | |
Total other expense | 14.9 | | 14.8 | | |
Income from equity investees | 37.5 | | 40.6 | | |
Income before income taxes | 18.2 | | 21.1 | | |
Income tax benefit (provision) | 6.8 | | 6.6 | | |
Net income before non-controlling interest | 25 | | 27.7 | | |
Less: net income attributable to non-controlling interest | 1.6 | | 0.3 | | |
Net income attributable to Tempur Sealy International, Inc. | 23.4 | | 27.4 | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | -12.8 | | 29.2 | | |
Current Assets: | | | | | |
Cash and cash equivalents | 0 | | 0 | | |
Accounts receivable, net | 0 | | | | 0 |
Inventories, net | 0 | | | | 0 |
Income taxes receivable | 154.6 | | | | 144.1 |
Prepaid expenses and other current assets | 0.9 | | | | 0 |
Deferred income taxes | 12.7 | | | | 12.4 |
Total Current Assets | 168.2 | | | | 156.9 |
Property, plant and equipment, net | 0 | | | | 0 |
Goodwill | 0 | | | | 0 |
Other intangible assets, net | 0 | | | | 0 |
Deferred tax asset | 0 | | | | 0 |
Other non-current assets | 6.2 | | | | 6.3 |
Net investment in subsidiaries | 1,910.40 | | | | 1,808.40 |
Due from affiliates | 48.3 | | | | 51.4 |
Total Assets | 2,133.10 | | | | 2,023 |
Current Liabilities: | | | | | |
Accounts payable | 0 | | | | 0 |
Accrued expenses and other current liabilities | 7.8 | | | | 1.4 |
Deferred income taxes | 0 | | | | 0 |
Income taxes payable | 0 | | | | 0 |
Current portion of long-term debt | 0 | | | | 0 |
Total Current Liabilities | 7.8 | | | | 1.4 |
Long-term debt | 375 | | | | 375 |
Deferred income taxes | 0 | | | | 0 |
Other non-current liabilities | 0 | | | | 0 |
Due to affiliates | 1,541 | | | | 1,431.30 |
Total Liabilities | 1,923.80 | | | | 1,807.70 |
Redeemable non-controlling interest | 14.8 | | | | 12.6 |
Total Stockholders’ Equity | 194.5 | | | | 202.7 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity | 2,133.10 | | | | 2,023 |
Supplemental condensed consolidated statements of cash flows [Abstract] | | | | | |
Net cash (used in) provided by operating activities | -13.5 | | -10.5 | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | |
Purchases of property, plant and equipment | 0 | | 0 | | |
Other | | | 0 | | |
Net cash used in investing activities | 0 | | 0 | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | |
Proceeds from borrowings under long-term debt obligations | 0 | | 0 | | |
Repayments of borrowings under long-term debt obligations | 0 | | 0 | | |
Net activity in investment in and advances from (to) subsidiaries and affiliates | 12.6 | | 10.1 | | |
Proceeds from exercise of stock options | 1.6 | | 1.7 | | |
Excess tax benefit from stock based compensation | | | 0.9 | | |
Treasury shares repurchased | -1.1 | | -2.2 | | |
Other | 0 | | 0 | | |
Net cash (used in) provided by financing activities | 13.1 | | 10.5 | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | 0 | | 0 | | |
Decrease in cash and cash equivalents | -0.4 | | 0 | | |
CASH AND CASH EQUIVALENTS, end of period | 0.4 | | 0 | | |
CASH AND CASH EQUIVALENTS, end of period | 0 | | 0 | | |
Combined Guarantor Subsidiaries | | | | | |
Supplemental condensed consolidated statements of operations and comprehensive income [Abstract] | | | | | |
Net sales | 558.9 | | 508.3 | | |
Cost of sales | 367.6 | | 340 | | |
Gross profit | 191.3 | | 168.3 | | |
Selling and marketing expenses | 105.5 | | 95.5 | | |
General, administrative and other | 57.6 | | 48.8 | | |
Equity income in earnings of unconsolidated affiliates | 0 | | 0 | | |
Royalty income, net of royalty expense | -4.2 | | -4.5 | | |
Operating (loss) income | 32.4 | | 28.5 | | |
Other expense, net: | | | | | |
Third party interest expense, net | 13.1 | | 15.1 | | |
Intercompany interest expense (income), net | -8.9 | | -8.6 | | |
Interest expense, net | 4.2 | | 6.5 | | |
Other (income), net | -0.1 | | -0.2 | | |
Total other expense | 4.1 | | 6.3 | | |
Income from equity investees | 20.9 | | 28.2 | | |
Income before income taxes | 49.2 | | 50.4 | | |
Income tax benefit (provision) | -11.7 | | -9.8 | | |
Net income before non-controlling interest | 37.5 | | 40.6 | | |
Less: net income attributable to non-controlling interest | 1.6 | | 0.3 | | |
Net income attributable to Tempur Sealy International, Inc. | 35.9 | | 40.3 | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | 36.1 | | 40.6 | | |
Current Assets: | | | | | |
Cash and cash equivalents | 15.7 | | 33 | | |
Accounts receivable, net | 244.9 | | | | 241.2 |
Inventories, net | 169.3 | | | | 158.3 |
Income taxes receivable | 0 | | | | |
Prepaid expenses and other current assets | 26 | | | | 28.2 |
Deferred income taxes | 36 | | | | 26.8 |
Total Current Assets | 491.9 | | | | 480 |
Property, plant and equipment, net | 292.2 | | | | 287.3 |
Goodwill | 501.3 | | | | 557.2 |
Other intangible assets, net | 622.3 | | | | 611.9 |
Deferred tax asset | 0 | | | | 0 |
Other non-current assets | 47.9 | | | | 46.4 |
Net investment in subsidiaries | 0 | | | | |
Due from affiliates | 2,203.70 | | | | 2,226 |
Total Assets | 4,159.30 | | | | 4,208.80 |
Current Liabilities: | | | | | |
Accounts payable | 185.5 | | | | 170.4 |
Accrued expenses and other current liabilities | 153.5 | | | | 166.1 |
Deferred income taxes | 0 | | | | 0 |
Income taxes payable | 159.3 | | | | 163 |
Current portion of long-term debt | 60.7 | | | | 61.8 |
Total Current Liabilities | 559 | | | | 561.3 |
Long-term debt | 1,157.40 | | | | 1,160.90 |
Deferred income taxes | 232.6 | | | | 229.1 |
Other non-current liabilities | 110.7 | | | | 109.3 |
Due to affiliates | 189.2 | | | | 340.2 |
Total Liabilities | 2,248.90 | | | | 2,400.80 |
Redeemable non-controlling interest | 14.8 | | | | 12.6 |
Total Stockholders’ Equity | 1,895.60 | | | | 1,795.40 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity | 4,159.30 | | | | 4,208.80 |
Supplemental condensed consolidated statements of cash flows [Abstract] | | | | | |
Net cash (used in) provided by operating activities | 10.4 | | -14.8 | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | |
Purchases of property, plant and equipment | -13.1 | | -5.5 | | |
Other | | | 0.9 | | |
Net cash used in investing activities | -13.1 | | -4.6 | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | |
Proceeds from borrowings under long-term debt obligations | 93.5 | | 74.5 | | |
Repayments of borrowings under long-term debt obligations | -98.8 | | -66.5 | | |
Net activity in investment in and advances from (to) subsidiaries and affiliates | -1.4 | | 13.9 | | |
Proceeds from exercise of stock options | 0 | | 0 | | |
Excess tax benefit from stock based compensation | | | 0 | | |
Treasury shares repurchased | 0 | | | | |
Other | -0.4 | | -0.4 | | |
Net cash (used in) provided by financing activities | -7.1 | | 21.5 | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | 0 | | 0 | | |
Decrease in cash and cash equivalents | -9.8 | | 2.1 | | |
CASH AND CASH EQUIVALENTS, end of period | 25.5 | | 30.9 | | |
CASH AND CASH EQUIVALENTS, end of period | 15.7 | | 33 | | |
Combined Non-Guarantor Subsidiaries | | | | | |
Supplemental condensed consolidated statements of operations and comprehensive income [Abstract] | | | | | |
Net sales | 192.9 | | 197.9 | | |
Cost of sales | 105.5 | | 96.7 | | |
Gross profit | 87.4 | | 101.2 | | |
Selling and marketing expenses | 47.5 | | 47 | | |
General, administrative and other | 16.5 | | 17.3 | | |
Equity income in earnings of unconsolidated affiliates | -3 | | -1.7 | | |
Royalty income, net of royalty expense | 0 | | 0 | | |
Operating (loss) income | 26.4 | | 38.6 | | |
Other expense, net: | | | | | |
Third party interest expense, net | 0.6 | | 0.3 | | |
Intercompany interest expense (income), net | 0.7 | | 0.6 | | |
Interest expense, net | 1.3 | | 0.9 | | |
Other (income), net | -1.2 | | 1.2 | | |
Total other expense | 0.1 | | 2.1 | | |
Income from equity investees | 0 | | 0 | | |
Income before income taxes | 26.3 | | 36.5 | | |
Income tax benefit (provision) | -5.4 | | -8.3 | | |
Net income before non-controlling interest | 20.9 | | 28.2 | | |
Less: net income attributable to non-controlling interest | 0 | | 0 | | |
Net income attributable to Tempur Sealy International, Inc. | 20.9 | | 28.2 | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | -18.3 | | 29.8 | | |
Current Assets: | | | | | |
Cash and cash equivalents | 29.3 | | 46.7 | | |
Accounts receivable, net | 145.2 | | | | 144.6 |
Inventories, net | 57.6 | | | | 58.9 |
Income taxes receivable | 0 | | | | 0 |
Prepaid expenses and other current assets | 29 | | | | 28.3 |
Deferred income taxes | 5.1 | | | | 5.2 |
Total Current Assets | 266.2 | | | | 273.6 |
Property, plant and equipment, net | 60.9 | | | | 68.3 |
Goodwill | 217 | | | | 179.3 |
Other intangible assets, net | 93.3 | | | | 115.2 |
Deferred tax asset | 8.7 | | | | 8.6 |
Other non-current assets | 33.6 | | | | 15.7 |
Net investment in subsidiaries | 0 | | | | 0 |
Due from affiliates | 5.7 | | | | 5.3 |
Total Assets | 685.4 | | | | 666 |
Current Liabilities: | | | | | |
Accounts payable | 51.1 | | | | 56 |
Accrued expenses and other current liabilities | 58.7 | | | | 65.8 |
Deferred income taxes | 0.2 | | | | 0.2 |
Income taxes payable | 4.5 | | | | -6.9 |
Current portion of long-term debt | 9.4 | | | | 4.6 |
Total Current Liabilities | 123.9 | | | | 119.7 |
Long-term debt | 0.1 | | | | 0 |
Deferred income taxes | 27.3 | | | | 29.7 |
Other non-current liabilities | 6.6 | | | | 5 |
Due to affiliates | 715 | | | | 849.4 |
Total Liabilities | 872.9 | | | | 1,003.80 |
Redeemable non-controlling interest | 0 | | | | 0 |
Total Stockholders’ Equity | -187.5 | | | | -337.8 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity | 685.4 | | | | 666 |
Supplemental condensed consolidated statements of cash flows [Abstract] | | | | | |
Net cash (used in) provided by operating activities | -3.3 | | 23.7 | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | |
Purchases of property, plant and equipment | -2.3 | | -2.3 | | |
Other | | | -1.7 | | |
Net cash used in investing activities | -2.3 | | -4 | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | |
Proceeds from borrowings under long-term debt obligations | 4.4 | | 0 | | |
Repayments of borrowings under long-term debt obligations | 0 | | 0 | | |
Net activity in investment in and advances from (to) subsidiaries and affiliates | -11.2 | | -24 | | |
Proceeds from exercise of stock options | 0 | | 0 | | |
Excess tax benefit from stock based compensation | | | 0 | | |
Treasury shares repurchased | 0 | | 0 | | |
Other | 0.6 | | 0.5 | | |
Net cash (used in) provided by financing activities | -6.2 | | -23.5 | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | 4.5 | | 0.4 | | |
Decrease in cash and cash equivalents | -7.3 | | -3.4 | | |
CASH AND CASH EQUIVALENTS, end of period | 36.6 | | 50.1 | | |
CASH AND CASH EQUIVALENTS, end of period | 29.3 | | 46.7 | | |
Eliminations | | | | | |
Supplemental condensed consolidated statements of operations and comprehensive income [Abstract] | | | | | |
Net sales | -12.3 | | -4.3 | | |
Cost of sales | -12.3 | | -4.3 | | |
Gross profit | 0 | | 0 | | |
Selling and marketing expenses | 0 | | 0 | | |
General, administrative and other | 0 | | 0 | | |
Equity income in earnings of unconsolidated affiliates | 0 | | 0 | | |
Royalty income, net of royalty expense | 0 | | 0 | | |
Operating (loss) income | 0 | | 0 | | |
Other expense, net: | | | | | |
Third party interest expense, net | 0 | | 0 | | |
Intercompany interest expense (income), net | 0 | | 0 | | |
Interest expense, net | 0 | | 0 | | |
Other (income), net | 0 | | 0 | | |
Total other expense | 0 | | 0 | | |
Income from equity investees | -58.4 | | -68.8 | | |
Income before income taxes | -58.4 | | -68.8 | | |
Income tax benefit (provision) | 0 | | 0 | | |
Net income before non-controlling interest | -58.4 | | -68.8 | | |
Less: net income attributable to non-controlling interest | -1.6 | | -0.3 | | |
Net income attributable to Tempur Sealy International, Inc. | -56.8 | | -68.5 | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | -17.8 | | -70.4 | | |
Current Assets: | | | | | |
Cash and cash equivalents | 0 | | 0 | | |
Accounts receivable, net | 0 | | | | 0 |
Inventories, net | 0 | | | | 0 |
Income taxes receivable | -154.6 | | | | -144.1 |
Prepaid expenses and other current assets | 0 | | | | 0 |
Deferred income taxes | 0 | | | | 0 |
Total Current Assets | -154.6 | | | | -144.1 |
Property, plant and equipment, net | 0 | | | | 0 |
Goodwill | 0 | | | | 0 |
Other intangible assets, net | 0 | | | | 0 |
Deferred tax asset | 0 | | | | 0 |
Other non-current assets | 0 | | | | 0 |
Net investment in subsidiaries | -1,910.40 | | | | -1,808.40 |
Due from affiliates | -2,257.70 | | | | -2,282.70 |
Total Assets | -4,322.70 | | | | -4,235.20 |
Current Liabilities: | | | | | |
Accounts payable | 0 | | | | 0 |
Accrued expenses and other current liabilities | 0 | | | | 0 |
Deferred income taxes | 0 | | | | 0 |
Income taxes payable | -154.6 | | | | -144.1 |
Current portion of long-term debt | 0 | | | | 0 |
Total Current Liabilities | -154.6 | | | | -144.1 |
Long-term debt | 0 | | | | 0 |
Deferred income taxes | 0 | | | | 0 |
Other non-current liabilities | 0 | | | | 0 |
Due to affiliates | -2,445.20 | | | | -2,620.90 |
Total Liabilities | -2,599.80 | | | | -2,765 |
Redeemable non-controlling interest | -14.8 | | | | -12.6 |
Total Stockholders’ Equity | -1,708.10 | | | | -1,457.60 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity | -4,322.70 | | | | -4,235.20 |
Supplemental condensed consolidated statements of cash flows [Abstract] | | | | | |
Net cash (used in) provided by operating activities | 0 | | 0 | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | |
Purchases of property, plant and equipment | 0 | | 0 | | |
Other | | | 0 | | |
Net cash used in investing activities | 0 | | 0 | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | |
Proceeds from borrowings under long-term debt obligations | 0 | | 0 | | |
Repayments of borrowings under long-term debt obligations | 0 | | 0 | | |
Net activity in investment in and advances from (to) subsidiaries and affiliates | | | 0 | | |
Proceeds from exercise of stock options | 0 | | 0 | | |
Excess tax benefit from stock based compensation | | | 0 | | |
Treasury shares repurchased | 0 | | 0 | | |
Other | 0 | | 0 | | |
Net cash (used in) provided by financing activities | 0 | | 0 | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | 0 | | 0 | | |
Decrease in cash and cash equivalents | 0 | | 0 | | |
CASH AND CASH EQUIVALENTS, end of period | 0 | | 0 | | |
CASH AND CASH EQUIVALENTS, end of period | 0 | | 0 | | |
Consolidated | | | | | |
Supplemental condensed consolidated statements of operations and comprehensive income [Abstract] | | | | | |
Net sales | 739.5 | | 701.9 | | |
Cost of sales | 460.8 | | 432.4 | | |
Gross profit | 278.7 | | 269.5 | | |
Selling and marketing expenses | 153.8 | | 143 | | |
General, administrative and other | 77.7 | | 70.3 | | |
Equity income in earnings of unconsolidated affiliates | -3 | | -1.7 | | |
Royalty income, net of royalty expense | -4.2 | | -4.5 | | |
Operating (loss) income | 54.4 | | 62.4 | | |
Other expense, net: | | | | | |
Third party interest expense, net | 20.4 | | 22.2 | | |
Intercompany interest expense (income), net | 0 | | 0 | | |
Interest expense, net | 20.4 | | 22.2 | | |
Other (income), net | -1.3 | | 1 | | |
Total other expense | 19.1 | | 23.2 | | |
Income from equity investees | 0 | | 0 | | |
Income before income taxes | 35.3 | | 39.2 | | |
Income tax benefit (provision) | -10.3 | | -11.5 | | |
Net income before non-controlling interest | 25 | | 27.7 | | |
Less: net income attributable to non-controlling interest | 1.6 | | 0.3 | | |
Net income attributable to Tempur Sealy International, Inc. | 23.4 | | 27.4 | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | -12.8 | | 29.2 | | |
Current Assets: | | | | | |
Cash and cash equivalents | 45 | | 79.7 | | |
Accounts receivable, net | 390.1 | | | | 385.8 |
Inventories, net | 226.9 | | | | 217.2 |
Income taxes receivable | 0 | | | | 0 |
Prepaid expenses and other current assets | 55.9 | | | | 56.5 |
Deferred income taxes | 53.8 | | | | 44.4 |
Total Current Assets | 771.7 | | | | 766.4 |
Property, plant and equipment, net | 353.1 | | | | 355.6 |
Goodwill | 718.3 | | | | 736.5 |
Other intangible assets, net | 715.6 | | | | 727.1 |
Deferred tax asset | 8.7 | | | | 8.6 |
Other non-current assets | 87.7 | | | | 68.4 |
Net investment in subsidiaries | 0 | | | | 0 |
Due from affiliates | 0 | | | | 0 |
Total Assets | 2,655.10 | | | | 2,662.60 |
Current Liabilities: | | | | | |
Accounts payable | 236.6 | | | | 226.4 |
Accrued expenses and other current liabilities | 220 | | | | 233.3 |
Deferred income taxes | 0.2 | | | | 0.2 |
Income taxes payable | 9.2 | | | | 12 |
Current portion of long-term debt | 70.1 | | | | 66.4 |
Total Current Liabilities | 536.1 | | | | 538.3 |
Long-term debt | 1,532.50 | | | | 1,535.90 |
Deferred income taxes | 259.9 | | | | 258.8 |
Other non-current liabilities | 117.3 | | | | 114.3 |
Due to affiliates | 0 | | | | 0 |
Total Liabilities | 2,445.80 | | | | 2,447.30 |
Redeemable non-controlling interest | 14.8 | | | | 12.6 |
Total Stockholders’ Equity | 194.5 | | | | 202.7 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity | 2,655.10 | | | | 2,662.60 |
Supplemental condensed consolidated statements of cash flows [Abstract] | | | | | |
Net cash (used in) provided by operating activities | -6.4 | | -1.6 | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | |
Purchases of property, plant and equipment | -15.4 | | -7.8 | | |
Other | | | -0.8 | | |
Net cash used in investing activities | -15.4 | | -8.6 | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | |
Proceeds from borrowings under long-term debt obligations | 97.9 | | 74.5 | | |
Repayments of borrowings under long-term debt obligations | -98.8 | | -66.5 | | |
Net activity in investment in and advances from (to) subsidiaries and affiliates | 0 | | 0 | | |
Proceeds from exercise of stock options | 1.6 | | 1.7 | | |
Excess tax benefit from stock based compensation | | | 0.9 | | |
Treasury shares repurchased | -1.1 | | -2.2 | | |
Other | 0.2 | | 0.1 | | |
Net cash (used in) provided by financing activities | -0.2 | | 8.5 | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | 4.5 | | 0.4 | | |
Decrease in cash and cash equivalents | -17.5 | | -1.3 | | |
CASH AND CASH EQUIVALENTS, end of period | 62.5 | | 81 | | |
CASH AND CASH EQUIVALENTS, end of period | 45 | | 79.7 | | |
Senior Notes | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | |
Senior notes | $375 | | | | $375 |
Stated percentage | 6.88% | | | | |
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[1] | (1)Income attributable to the Company's redeemable non-controlling interest in Comfort Revolution, LLC for the three months ended March 31, 2015 and 2014 represented $0.6 million and $0.3 million, respectively. Additionally, the Company recorded a $1.0 million redemption value adjustment, net of tax, to increase the carrying value of the redeemable non-controlling interest as of March 31, 2015. For more information on the carrying value of the redeemable non-controlling interest, please refer to Note 1, "Summary of Significant Accounting Policies" in the Notes to the Condensed Consolidated Financial Statements. |