Guarantor/Non-Guarantor Financial Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | | | |
Sep. 30, 2016 | Jun. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | May 24, 2016 | Dec. 31, 2015 |
Supplemental condensed consolidated statements of income and comprehensive income [Abstract] | | | | | | | | | |
Net sales | | $ 832,400,000 | | $ 880,000,000 | $ 2,357,800,000 | $ 2,383,900,000 | | | |
Cost of sales | | 470,300,000 | | 520,400,000 | 1,367,800,000 | 1,448,100,000 | | | |
Gross profit | | 362,100,000 | | 359,600,000 | 990,000,000 | 935,800,000 | | | |
Selling and marketing expenses | | 175,200,000 | | 175,600,000 | 498,100,000 | 498,000,000 | | | |
General, administrative and other expenses | | 64,000,000 | | 79,800,000 | 207,600,000 | 242,600,000 | | | |
Equity income in earnings of unconsolidated affiliates | | (2,400,000) | | (2,000,000) | (8,600,000) | (8,400,000) | | | |
Royalty income, net of royalty expense | | (5,800,000) | | (4,700,000) | (15,100,000) | (13,700,000) | | | |
Operating income | | 131,100,000 | | 110,900,000 | 308,000,000 | 217,300,000 | | | |
Other expense, net: | | | | | | | | | |
Interest expense, net | | 20,500,000 | | 33,200,000 | 65,000,000 | 74,100,000 | | | |
Loss on extinguishment of debt | | 0 | | 0 | 47,200,000 | 0 | | | |
Other (income) expense, net | | 300,000 | | 11,800,000 | 0 | 12,700,000 | | | |
Total other expense, net | | 20,800,000 | | 45,000,000 | 112,200,000 | 86,800,000 | | | |
Income before income taxes | | 110,300,000 | | 65,900,000 | 195,800,000 | 130,500,000 | | | |
Income tax benefit (provision) | | (33,700,000) | | (25,000,000) | (60,200,000) | (43,600,000) | | | |
Net income before non-controlling interest | | 76,600,000 | | 40,900,000 | 135,600,000 | 86,900,000 | | | |
Less: Net income attributable to non-controlling interest | [1],[2] | (1,200,000) | | 700,000 | (3,100,000) | 2,100,000 | | | |
Net income attributable to Tempur Sealy International, Inc. | | 77,800,000 | | 40,200,000 | 138,700,000 | 84,800,000 | | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | | 71,400,000 | | 25,300,000 | 141,300,000 | 42,300,000 | | | |
Current Assets: | | | | | | | | | |
Cash and cash equivalents | | 89,000,000 | | 71,800,000 | 153,900,000 | 62,500,000 | $ 89,000,000 | | $ 153,900,000 |
Accounts receivable, net | | | | | | | 404,300,000 | | 379,400,000 |
Inventories, net | | | | | | | 214,300,000 | | 199,200,000 |
Total Current Assets | | | | | | | 769,300,000 | | 809,100,000 |
Property, plant and equipment, net | | | | | | | 365,100,000 | | 361,700,000 |
Goodwill | | | | | | | 719,700,000 | | 709,400,000 |
Other intangible assets, net | | | | | | | 686,300,000 | | 695,400,000 |
Deferred income taxes | | | | | | | 25,400,000 | | 12,200,000 |
Other non-current assets | | | | | | | 180,400,000 | | 67,700,000 |
Total Assets | | | | | | | 2,746,200,000 | | 2,655,500,000 |
Current Liabilities: | | | | | | | | | |
Accounts payable | | | | | | | 237,900,000 | | 266,300,000 |
Accrued expenses and other current liabilities | | | | | | | 285,100,000 | | 254,000,000 |
Income taxes payable | | | | | | | 23,100,000 | | 11,200,000 |
Current portion of long-term debt | | | | | | | 66,100,000 | | 181,500,000 |
Total Current Liabilities | | | | | | | 612,200,000 | | 713,000,000 |
Long-term debt, net | | | | | | | 1,619,000,000 | | 1,273,300,000 |
Deferred income taxes | | | | | | | 192,200,000 | | 195,400,000 |
Other non-current liabilities | | | | | | | 162,200,000 | | 171,200,000 |
Total Liabilities | | | | | | | 2,585,600,000 | | 2,352,900,000 |
Redeemable non-controlling interest | | | | | | | 9,300,000 | | 12,400,000 |
Total Stockholders’ Equity | | | | | | | 151,300,000 | | 290,200,000 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity | | | | | | | $ 2,746,200,000 | | 2,655,500,000 |
Supplemental condensed consolidated statements of cash flows [Abstract] | | | | | | | | | |
Net cash (used in) provided by operating activities | | | | | 109,800,000 | 133,200,000 | | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | |
Purchases of property, plant and equipment | | (17,600,000) | | (17,100,000) | (41,900,000) | (51,100,000) | | | |
Proceeds from disposition of business and other | | | | | 0 | 6,900,000 | | | |
Net cash used in investing activities | | | | | (41,900,000) | (44,200,000) | | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | |
Proceeds from borrowings under long-term debt obligations | | | | | 1,871,500,000 | 855,400,000 | | | |
Repayments of borrowings under long-term debt obligations | | | | | (1,659,300,000) | (974,400,000) | | | |
Proceeds from exercise of stock options | | | | | 15,200,000 | 16,700,000 | | | |
Excess tax benefit from stock-based compensation | | | | | 6,000,000 | 19,700,000 | | | |
Treasury stock repurchased | | | | | (319,700,000) | (1,300,000) | | | |
Payment of deferred financing costs | | | | | (6,600,000) | (6,400,000) | | | |
Fees paid to lenders | | | | | (7,800,000) | 0 | | | |
Call premium on 2020 Senior Notes | | | | | (23,600,000) | 0 | | | |
Proceeds from purchase of treasury shares by CEO | | | | | 0 | 5,000,000 | | | |
Other | | | | | 100,000 | (2,100,000) | | | |
Net cash used in financing activities | | | | | (124,200,000) | (87,400,000) | | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | | | | (8,600,000) | 7,700,000 | | | |
(Decrease) increase in cash and cash equivalents | | | | | (64,900,000) | 9,300,000 | | | |
CASH AND CASH EQUIVALENTS, beginning of period | | | | | 153,900,000 | 62,500,000 | | | |
CASH AND CASH EQUIVALENTS, end of period | | 89,000,000 | | 71,800,000 | 89,000,000 | 71,800,000 | | | |
Tempur Sealy International, Inc. (Ultimate Parent) | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | |
Ownership percentage by parent (in hundredths) | | | | | | | 100.00% | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | |
Payment of deferred financing costs | | | | | | | | | |
Consolidated | | | | | | | | | |
Supplemental condensed consolidated statements of income and comprehensive income [Abstract] | | | | | | | | | |
Net sales | | 832,400,000 | | 880,000,000 | 2,357,800,000 | 2,383,900,000 | | | |
Cost of sales | | 470,300,000 | | 520,400,000 | 1,367,800,000 | 1,448,100,000 | | | |
Gross profit | | 362,100,000 | | 359,600,000 | 990,000,000 | 935,800,000 | | | |
Selling and marketing expenses | | 175,200,000 | | 175,600,000 | 498,100,000 | 498,000,000 | | | |
General, administrative and other expenses | | 64,000,000 | | 79,800,000 | 207,600,000 | 242,600,000 | | | |
Equity income in earnings of unconsolidated affiliates | | (2,400,000) | | (2,000,000) | (8,600,000) | (8,400,000) | | | |
Royalty income, net of royalty expense | | (5,800,000) | | (4,700,000) | (15,100,000) | (13,700,000) | | | |
Operating income | | 131,100,000 | | 110,900,000 | 308,000,000 | 217,300,000 | | | |
Other expense, net: | | | | | | | | | |
Third party interest expense, net | | 20,500,000 | | 33,200,000 | 65,000,000 | 74,100,000 | | | |
Intercompany interest (income) expense, net | | 0 | | 0 | 0 | 0 | | | |
Interest expense, net | | 20,500,000 | | 33,200,000 | 65,000,000 | 74,100,000 | | | |
Loss on extinguishment of debt | | | | | 47,200,000 | | | | |
Other (income) expense, net | | | | | | 12,700,000 | | | |
Other (income) expense, net | | 300,000 | | 11,800,000 | 0 | | | | |
Total other expense, net | | 20,800,000 | | 45,000,000 | 112,200,000 | 86,800,000 | | | |
Income from equity investees | | 0 | | 0 | 0 | 0 | | | |
Income before income taxes | | 110,300,000 | | 65,900,000 | 195,800,000 | 130,500,000 | | | |
Income tax benefit (provision) | | (33,700,000) | | (25,000,000) | (60,200,000) | (43,600,000) | | | |
Net income before non-controlling interest | | 76,600,000 | | 40,900,000 | 135,600,000 | 86,900,000 | | | |
Less: Net income attributable to non-controlling interest | | (1,200,000) | | 700,000 | (3,100,000) | 2,100,000 | | | |
Net income attributable to Tempur Sealy International, Inc. | | 77,800,000 | | 40,200,000 | 138,700,000 | 84,800,000 | | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | | 72,600,000 | | 24,600,000 | 144,400,000 | 40,200,000 | | | |
Current Assets: | | | | | | | | | |
Cash and cash equivalents | | 89,000,000 | | 71,800,000 | 153,900,000 | 62,500,000 | $ 89,000,000 | | 153,900,000 |
Accounts receivable, net | | | | | | | 404,300,000 | | 379,400,000 |
Inventories, net | | | | | | | 214,300,000 | | 199,200,000 |
Income taxes receivable | | | | | | | 0 | | 0 |
Prepaid expenses and other current assets | | | | | | | 61,700,000 | | 76,600,000 |
Total Current Assets | | | | | | | 769,300,000 | | 809,100,000 |
Property, plant and equipment, net | | | | | | | 365,100,000 | | 361,700,000 |
Goodwill | | | | | | | 719,700,000 | | 709,400,000 |
Other intangible assets, net | | | | | | | 686,300,000 | | 695,400,000 |
Deferred income taxes | | | | | | | 25,400,000 | | 12,200,000 |
Other non-current assets | | | | | | | 180,400,000 | | 67,700,000 |
Net investment in subsidiaries | | | | | | | 0 | | 0 |
Due from affiliates | | | | | | | 0 | | 0 |
Total Assets | | | | | | | 2,746,200,000 | | 2,655,500,000 |
Current Liabilities: | | | | | | | | | |
Accounts payable | | | | | | | 237,900,000 | | 266,300,000 |
Accrued expenses and other current liabilities | | | | | | | 285,100,000 | | 254,000,000 |
Income taxes payable | | | | | | | 23,100,000 | | 11,200,000 |
Current portion of long-term debt | | | | | | | 66,100,000 | | 181,500,000 |
Total Current Liabilities | | | | | | | 612,200,000 | | 713,000,000 |
Long-term debt, net | | | | | | | 1,619,000,000 | | 1,273,300,000 |
Deferred income taxes | | | | | | | 192,200,000 | | 195,400,000 |
Other non-current liabilities | | | | | | | 162,200,000 | | 171,200,000 |
Due to affiliates | | | | | | | 0 | | 0 |
Total Liabilities | | | | | | | 2,585,600,000 | | 2,352,900,000 |
Redeemable non-controlling interest | | | | | | | 9,300,000 | | 12,400,000 |
Total Stockholders’ Equity | | | | | | | 151,300,000 | | 290,200,000 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity | | | | | | | 2,746,200,000 | | 2,655,500,000 |
Supplemental condensed consolidated statements of cash flows [Abstract] | | | | | | | | | |
Net cash (used in) provided by operating activities | | | | | 109,800,000 | 133,200,000 | | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | |
Purchases of property, plant and equipment | | | | | (41,900,000) | (51,100,000) | | | |
Proceeds from disposition of business and other | | | | | | 6,900,000 | | | |
Contributions (paid to) received from subsidiaries and affiliates | | | | | 0 | | | | |
Net cash used in investing activities | | | | | (41,900,000) | (44,200,000) | | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | |
Proceeds from borrowings under long-term debt obligations | | | | | 1,871,500,000 | 855,400,000 | | | |
Repayments of borrowings under long-term debt obligations | | | | | (1,659,300,000) | (974,400,000) | | | |
Net activity in investment in and advances from (to) subsidiaries and affiliates | | | | | 0 | 0 | | | |
Proceeds from exercise of stock options | | | | | 15,200,000 | 16,700,000 | | | |
Excess tax benefit from stock-based compensation | | | | | 6,000,000 | 19,700,000 | | | |
Treasury stock repurchased | | | | | (319,700,000) | (1,300,000) | | | |
Payment of deferred financing costs | | | | | (6,600,000) | (6,400,000) | | | |
Fees paid to lenders | | | | | (7,800,000) | | | | |
Call premium on 2020 Senior Notes | | | | | (23,600,000) | | | | |
Proceeds from purchase of treasury shares by CEO | | | | | | 5,000,000 | | | |
Other | | | | | 100,000 | (2,100,000) | | | |
Net cash used in financing activities | | | | | (124,200,000) | (87,400,000) | | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | | | | (8,600,000) | 7,700,000 | | | |
(Decrease) increase in cash and cash equivalents | | | | | (64,900,000) | 9,300,000 | | | |
CASH AND CASH EQUIVALENTS, beginning of period | | | | | 153,900,000 | 62,500,000 | | | |
CASH AND CASH EQUIVALENTS, end of period | | 89,000,000 | | 71,800,000 | 89,000,000 | 71,800,000 | | | |
2023 Senior Notes | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | |
Senior notes | | | | | | | 450,000,000 | | 450,000,000 |
2026 Senior Notes | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | |
Senior notes | | | | | | | 600,000,000 | $ 600,000,000 | 0 |
Other expense, net: | | | | | | | | | |
Loss on extinguishment of debt | | | $ 5,900,000 | | | | | | |
2020 Senior Notes | | | | | | | | | |
Condensed Financial Statements, Captions [Line Items] | | | | | | | | | |
Senior notes | | | | | | | 0 | $ 375,000,000 | 375,000,000 |
Other expense, net: | | | | | | | | | |
Loss on extinguishment of debt | | | $ 23,600,000 | | | | | | |
Reportable Legal Entities | Tempur Sealy International, Inc. (Ultimate Parent) | | | | | | | | | |
Supplemental condensed consolidated statements of income and comprehensive income [Abstract] | | | | | | | | | |
Net sales | | 0 | | 0 | 0 | 0 | | | |
Cost of sales | | 0 | | 0 | 0 | 0 | | | |
Gross profit | | 0 | | 0 | 0 | 0 | | | |
Selling and marketing expenses | | 1,000,000 | | 1,100,000 | 3,700,000 | 2,800,000 | | | |
General, administrative and other expenses | | 4,000,000 | | 4,200,000 | 12,800,000 | 15,300,000 | | | |
Equity income in earnings of unconsolidated affiliates | | 0 | | 0 | 0 | 0 | | | |
Royalty income, net of royalty expense | | 0 | | 0 | 0 | 0 | | | |
Operating income | | (5,000,000) | | (5,300,000) | (16,500,000) | (18,100,000) | | | |
Other expense, net: | | | | | | | | | |
Third party interest expense, net | | 15,000,000 | | 6,700,000 | 51,100,000 | 20,100,000 | | | |
Intercompany interest (income) expense, net | | (1,000,000) | | 8,300,000 | (3,100,000) | 24,600,000 | | | |
Interest expense, net | | 14,000,000 | | 15,000,000 | 48,000,000 | 44,700,000 | | | |
Loss on extinguishment of debt | | | | | 34,300,000 | | | | |
Other (income) expense, net | | | | | | 0 | | | |
Other (income) expense, net | | 0 | | 0 | 0 | | | | |
Total other expense, net | | 14,000,000 | | 15,000,000 | 82,300,000 | 44,700,000 | | | |
Income from equity investees | | 89,000,000 | | 55,000,000 | 200,800,000 | 130,000,000 | | | |
Income before income taxes | | 70,000,000 | | 34,700,000 | 102,000,000 | 67,200,000 | | | |
Income tax benefit (provision) | | 6,600,000 | | 6,200,000 | 33,600,000 | 19,700,000 | | | |
Net income before non-controlling interest | | 76,600,000 | | 40,900,000 | 135,600,000 | 86,900,000 | | | |
Less: Net income attributable to non-controlling interest | | (1,200,000) | | 700,000 | (3,100,000) | 2,100,000 | | | |
Net income attributable to Tempur Sealy International, Inc. | | 77,800,000 | | 40,200,000 | 138,700,000 | 84,800,000 | | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | | 72,600,000 | | 24,600,000 | 144,400,000 | 40,200,000 | | | |
Current Assets: | | | | | | | | | |
Cash and cash equivalents | | 0 | | 0 | 0 | 400,000 | 0 | | 0 |
Accounts receivable, net | | | | | | | 0 | | 0 |
Inventories, net | | | | | | | 0 | | 0 |
Income taxes receivable | | | | | | | 229,000,000 | | 193,100,000 |
Prepaid expenses and other current assets | | | | | | | 200,000 | | 0 |
Total Current Assets | | | | | | | 229,200,000 | | 193,100,000 |
Property, plant and equipment, net | | | | | | | 0 | | 0 |
Goodwill | | | | | | | 0 | | 0 |
Other intangible assets, net | | | | | | | 0 | | 0 |
Deferred income taxes | | | | | | | 19,600,000 | | 16,000,000 |
Other non-current assets | | | | | | | 0 | | 0 |
Net investment in subsidiaries | | | | | | | 2,164,300,000 | | 1,960,500,000 |
Due from affiliates | | | | | | | 414,700,000 | | 548,100,000 |
Total Assets | | | | | | | 2,827,800,000 | | 2,717,700,000 |
Current Liabilities: | | | | | | | | | |
Accounts payable | | | | | | | 1,600,000 | | 0 |
Accrued expenses and other current liabilities | | | | | | | 23,300,000 | | 1,400,000 |
Income taxes payable | | | | | | | 0 | | 0 |
Current portion of long-term debt | | | | | | | 0 | | 0 |
Total Current Liabilities | | | | | | | 24,900,000 | | 1,400,000 |
Long-term debt, net | | | | | | | 1,040,100,000 | | 811,900,000 |
Deferred income taxes | | | | | | | 0 | | 0 |
Other non-current liabilities | | | | | | | 0 | | 0 |
Due to affiliates | | | | | | | 1,602,200,000 | | 1,601,800,000 |
Total Liabilities | | | | | | | 2,667,200,000 | | 2,415,100,000 |
Redeemable non-controlling interest | | | | | | | 9,300,000 | | 12,400,000 |
Total Stockholders’ Equity | | | | | | | 151,300,000 | | 290,200,000 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity | | | | | | | 2,827,800,000 | | 2,717,700,000 |
Supplemental condensed consolidated statements of cash flows [Abstract] | | | | | | | | | |
Net cash (used in) provided by operating activities | | | | | (30,400,000) | (63,300,000) | | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | |
Purchases of property, plant and equipment | | | | | 0 | 0 | | | |
Proceeds from disposition of business and other | | | | | | 0 | | | |
Contributions (paid to) received from subsidiaries and affiliates | | | | | 0 | | | | |
Net cash used in investing activities | | | | | 0 | 0 | | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | |
Proceeds from borrowings under long-term debt obligations | | | | | 600,000,000 | 0 | | | |
Repayments of borrowings under long-term debt obligations | | | | | (375,000,000) | 0 | | | |
Net activity in investment in and advances from (to) subsidiaries and affiliates | | | | | 136,500,000 | 22,800,000 | | | |
Proceeds from exercise of stock options | | | | | 15,200,000 | 16,700,000 | | | |
Excess tax benefit from stock-based compensation | | | | | 6,000,000 | 19,700,000 | | | |
Treasury stock repurchased | | | | | (319,700,000) | (1,300,000) | | | |
Payment of deferred financing costs | | | | | (3,000,000) | | | | |
Fees paid to lenders | | | | | (6,000,000) | | | | |
Call premium on 2020 Senior Notes | | | | | (23,600,000) | | | | |
Proceeds from purchase of treasury shares by CEO | | | | | | 5,000,000 | | | |
Other | | | | | 0 | 0 | | | |
Net cash used in financing activities | | | | | 30,400,000 | 62,900,000 | | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | | | | 0 | 0 | | | |
(Decrease) increase in cash and cash equivalents | | | | | 0 | (400,000) | | | |
CASH AND CASH EQUIVALENTS, beginning of period | | | | | 0 | 400,000 | | | |
CASH AND CASH EQUIVALENTS, end of period | | 0 | | 0 | 0 | 0 | | | |
Reportable Legal Entities | Combined Guarantor Subsidiaries | | | | | | | | | |
Supplemental condensed consolidated statements of income and comprehensive income [Abstract] | | | | | | | | | |
Net sales | | 656,000,000 | | 697,800,000 | 1,835,000,000 | 1,849,200,000 | | | |
Cost of sales | | 381,100,000 | | 427,200,000 | 1,106,300,000 | 1,173,600,000 | | | |
Gross profit | | 274,900,000 | | 270,600,000 | 728,700,000 | 675,600,000 | | | |
Selling and marketing expenses | | 129,600,000 | | 129,400,000 | 358,000,000 | 358,100,000 | | | |
General, administrative and other expenses | | 44,500,000 | | 59,100,000 | 146,300,000 | 177,500,000 | | | |
Equity income in earnings of unconsolidated affiliates | | 0 | | 0 | 0 | 0 | | | |
Royalty income, net of royalty expense | | (5,600,000) | | (4,700,000) | (15,100,000) | (13,700,000) | | | |
Operating income | | 106,400,000 | | 86,800,000 | 239,500,000 | 153,700,000 | | | |
Other expense, net: | | | | | | | | | |
Third party interest expense, net | | 4,700,000 | | 25,800,000 | 11,700,000 | 52,000,000 | | | |
Intercompany interest (income) expense, net | | 0 | | (8,900,000) | (100,000) | (26,500,000) | | | |
Interest expense, net | | 4,700,000 | | 16,900,000 | 11,600,000 | 25,500,000 | | | |
Loss on extinguishment of debt | | | | | 12,900,000 | | | | |
Other (income) expense, net | | | | | | (8,200,000) | | | |
Other (income) expense, net | | 0 | | (8,600,000) | (1,400,000) | | | | |
Total other expense, net | | 4,700,000 | | 8,300,000 | 23,100,000 | 17,300,000 | | | |
Income from equity investees | | 21,100,000 | | 1,400,000 | 62,300,000 | 40,100,000 | | | |
Income before income taxes | | 122,800,000 | | 79,900,000 | 278,700,000 | 176,500,000 | | | |
Income tax benefit (provision) | | (33,800,000) | | (24,900,000) | (77,900,000) | (46,500,000) | | | |
Net income before non-controlling interest | | 89,000,000 | | 55,000,000 | 200,800,000 | 130,000,000 | | | |
Less: Net income attributable to non-controlling interest | | (1,200,000) | | 700,000 | (3,100,000) | 2,100,000 | | | |
Net income attributable to Tempur Sealy International, Inc. | | 90,200,000 | | 54,300,000 | 203,900,000 | 127,900,000 | | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | | 90,500,000 | | 53,900,000 | 204,900,000 | 127,500,000 | | | |
Current Assets: | | | | | | | | | |
Cash and cash equivalents | | 33,600,000 | | 40,000,000 | 121,800,000 | 25,500,000 | 33,600,000 | | 121,800,000 |
Accounts receivable, net | | | | | | | 265,700,000 | | 231,900,000 |
Inventories, net | | | | | | | 154,500,000 | | 145,300,000 |
Income taxes receivable | | | | | | | 0 | | 0 |
Prepaid expenses and other current assets | | | | | | | 40,200,000 | | 43,500,000 |
Total Current Assets | | | | | | | 494,000,000 | | 542,500,000 |
Property, plant and equipment, net | | | | | | | 303,200,000 | | 300,100,000 |
Goodwill | | | | | | | 501,400,000 | | 501,400,000 |
Other intangible assets, net | | | | | | | 602,800,000 | | 612,900,000 |
Deferred income taxes | | | | | | | 0 | | 0 |
Other non-current assets | | | | | | | 31,900,000 | | 23,300,000 |
Net investment in subsidiaries | | | | | | | 48,900,000 | | 0 |
Due from affiliates | | | | | | | 1,632,500,000 | | 1,655,300,000 |
Total Assets | | | | | | | 3,614,700,000 | | 3,635,500,000 |
Current Liabilities: | | | | | | | | | |
Accounts payable | | | | | | | 185,300,000 | | 212,200,000 |
Accrued expenses and other current liabilities | | | | | | | 190,200,000 | | 183,800,000 |
Income taxes payable | | | | | | | 242,200,000 | | 196,000,000 |
Current portion of long-term debt | | | | | | | 32,300,000 | | 168,700,000 |
Total Current Liabilities | | | | | | | 650,000,000 | | 760,700,000 |
Long-term debt, net | | | | | | | 578,900,000 | | 461,400,000 |
Deferred income taxes | | | | | | | 190,100,000 | | 189,800,000 |
Other non-current liabilities | | | | | | | 30,100,000 | | 166,600,000 |
Due to affiliates | | | | | | | 1,300,000 | | 96,500,000 |
Total Liabilities | | | | | | | 1,450,400,000 | | 1,675,000,000 |
Redeemable non-controlling interest | | | | | | | 9,300,000 | | 12,400,000 |
Total Stockholders’ Equity | | | | | | | 2,155,000,000 | | 1,948,100,000 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity | | | | | | | 3,614,700,000 | | 3,635,500,000 |
Supplemental condensed consolidated statements of cash flows [Abstract] | | | | | | | | | |
Net cash (used in) provided by operating activities | | | | | 38,200,000 | 158,500,000 | | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | |
Purchases of property, plant and equipment | | | | | (33,200,000) | (40,300,000) | | | |
Proceeds from disposition of business and other | | | | | | 7,200,000 | | | |
Contributions (paid to) received from subsidiaries and affiliates | | | | | (76,800,000) | | | | |
Net cash used in investing activities | | | | | (110,000,000) | (33,100,000) | | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | |
Proceeds from borrowings under long-term debt obligations | | | | | 1,214,600,000 | 852,900,000 | | | |
Repayments of borrowings under long-term debt obligations | | | | | (1,246,600,000) | (974,400,000) | | | |
Net activity in investment in and advances from (to) subsidiaries and affiliates | | | | | 22,600,000 | 19,500,000 | | | |
Proceeds from exercise of stock options | | | | | 0 | 0 | | | |
Excess tax benefit from stock-based compensation | | | | | 0 | 0 | | | |
Treasury stock repurchased | | | | | 0 | 0 | | | |
Payment of deferred financing costs | | | | | (3,600,000) | (6,400,000) | | | |
Fees paid to lenders | | | | | (1,800,000) | | | | |
Call premium on 2020 Senior Notes | | | | | 0 | | | | |
Proceeds from purchase of treasury shares by CEO | | | | | | 0 | | | |
Other | | | | | (1,600,000) | (2,500,000) | | | |
Net cash used in financing activities | | | | | (16,400,000) | (110,900,000) | | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | | | | 0 | 0 | | | |
(Decrease) increase in cash and cash equivalents | | | | | (88,200,000) | 14,500,000 | | | |
CASH AND CASH EQUIVALENTS, beginning of period | | | | | 121,800,000 | 25,500,000 | | | |
CASH AND CASH EQUIVALENTS, end of period | | 33,600,000 | | 40,000,000 | 33,600,000 | 40,000,000 | | | |
Reportable Legal Entities | Combined Non-Guarantor Subsidiaries | | | | | | | | | |
Supplemental condensed consolidated statements of income and comprehensive income [Abstract] | | | | | | | | | |
Net sales | | 191,500,000 | | 195,600,000 | 566,400,000 | 572,700,000 | | | |
Cost of sales | | 104,300,000 | | 106,600,000 | 305,100,000 | 312,500,000 | | | |
Gross profit | | 87,200,000 | | 89,000,000 | 261,300,000 | 260,200,000 | | | |
Selling and marketing expenses | | 44,600,000 | | 45,100,000 | 136,400,000 | 137,100,000 | | | |
General, administrative and other expenses | | 15,500,000 | | 16,500,000 | 48,500,000 | 49,800,000 | | | |
Equity income in earnings of unconsolidated affiliates | | (2,400,000) | | (2,000,000) | (8,600,000) | (8,400,000) | | | |
Royalty income, net of royalty expense | | (200,000) | | 0 | 0 | 0 | | | |
Operating income | | 29,700,000 | | 29,400,000 | 85,000,000 | 81,700,000 | | | |
Other expense, net: | | | | | | | | | |
Third party interest expense, net | | 800,000 | | 700,000 | 2,200,000 | 2,000,000 | | | |
Intercompany interest (income) expense, net | | 1,000,000 | | 600,000 | 3,200,000 | 1,900,000 | | | |
Interest expense, net | | 1,800,000 | | 1,300,000 | 5,400,000 | 3,900,000 | | | |
Loss on extinguishment of debt | | | | | 0 | | | | |
Other (income) expense, net | | | | | | 20,900,000 | | | |
Other (income) expense, net | | 300,000 | | 20,400,000 | 1,400,000 | | | | |
Total other expense, net | | 2,100,000 | | 21,700,000 | 6,800,000 | 24,800,000 | | | |
Income from equity investees | | 0 | | 0 | 0 | 0 | | | |
Income before income taxes | | 27,600,000 | | 7,700,000 | 78,200,000 | 56,900,000 | | | |
Income tax benefit (provision) | | (6,500,000) | | (6,300,000) | (15,900,000) | (16,800,000) | | | |
Net income before non-controlling interest | | 21,100,000 | | 1,400,000 | 62,300,000 | 40,100,000 | | | |
Less: Net income attributable to non-controlling interest | | 0 | | 0 | 0 | 0 | | | |
Net income attributable to Tempur Sealy International, Inc. | | 21,100,000 | | 1,400,000 | 62,300,000 | 40,100,000 | | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | | 15,800,000 | | (21,300,000) | 67,200,000 | (14,000,000) | | | |
Current Assets: | | | | | | | | | |
Cash and cash equivalents | | 55,400,000 | | 31,800,000 | 32,100,000 | 36,600,000 | 55,400,000 | | 32,100,000 |
Accounts receivable, net | | | | | | | 138,600,000 | | 147,500,000 |
Inventories, net | | | | | | | 59,800,000 | | 53,900,000 |
Income taxes receivable | | | | | | | 0 | | 0 |
Prepaid expenses and other current assets | | | | | | | 21,300,000 | | 33,100,000 |
Total Current Assets | | | | | | | 275,100,000 | | 266,600,000 |
Property, plant and equipment, net | | | | | | | 61,900,000 | | 61,600,000 |
Goodwill | | | | | | | 218,300,000 | | 208,000,000 |
Other intangible assets, net | | | | | | | 83,500,000 | | 82,500,000 |
Deferred income taxes | | | | | | | 25,400,000 | | 12,200,000 |
Other non-current assets | | | | | | | 148,500,000 | | 44,400,000 |
Net investment in subsidiaries | | | | | | | 0 | | 0 |
Due from affiliates | | | | | | | 4,000,000 | | 4,800,000 |
Total Assets | | | | | | | 816,700,000 | | 680,100,000 |
Current Liabilities: | | | | | | | | | |
Accounts payable | | | | | | | 51,000,000 | | 54,100,000 |
Accrued expenses and other current liabilities | | | | | | | 71,600,000 | | 68,800,000 |
Income taxes payable | | | | | | | 9,900,000 | | 8,300,000 |
Current portion of long-term debt | | | | | | | 33,800,000 | | 12,800,000 |
Total Current Liabilities | | | | | | | 166,300,000 | | 144,000,000 |
Long-term debt, net | | | | | | | 0 | | 0 |
Deferred income taxes | | | | | | | 21,700,000 | | 21,600,000 |
Other non-current liabilities | | | | | | | 132,100,000 | | 4,600,000 |
Due to affiliates | | | | | | | 447,700,000 | | 604,900,000 |
Total Liabilities | | | | | | | 767,800,000 | | 775,100,000 |
Redeemable non-controlling interest | | | | | | | 0 | | 0 |
Total Stockholders’ Equity | | | | | | | 48,900,000 | | (95,000,000) |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity | | | | | | | 816,700,000 | | 680,100,000 |
Supplemental condensed consolidated statements of cash flows [Abstract] | | | | | | | | | |
Net cash (used in) provided by operating activities | | | | | 102,000,000 | 38,000,000 | | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | |
Purchases of property, plant and equipment | | | | | (8,700,000) | (10,800,000) | | | |
Proceeds from disposition of business and other | | | | | | (300,000) | | | |
Contributions (paid to) received from subsidiaries and affiliates | | | | | 76,800,000 | | | | |
Net cash used in investing activities | | | | | 68,100,000 | (11,100,000) | | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | |
Proceeds from borrowings under long-term debt obligations | | | | | 56,900,000 | 2,500,000 | | | |
Repayments of borrowings under long-term debt obligations | | | | | (37,700,000) | 0 | | | |
Net activity in investment in and advances from (to) subsidiaries and affiliates | | | | | (159,100,000) | (42,300,000) | | | |
Proceeds from exercise of stock options | | | | | 0 | 0 | | | |
Excess tax benefit from stock-based compensation | | | | | 0 | 0 | | | |
Treasury stock repurchased | | | | | 0 | 0 | | | |
Payment of deferred financing costs | | | | | 0 | 0 | | | |
Fees paid to lenders | | | | | 0 | | | | |
Call premium on 2020 Senior Notes | | | | | 0 | | | | |
Proceeds from purchase of treasury shares by CEO | | | | | | 0 | | | |
Other | | | | | 1,700,000 | 400,000 | | | |
Net cash used in financing activities | | | | | (138,200,000) | (39,400,000) | | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | | | | (8,600,000) | 7,700,000 | | | |
(Decrease) increase in cash and cash equivalents | | | | | 23,300,000 | (4,800,000) | | | |
CASH AND CASH EQUIVALENTS, beginning of period | | | | | 32,100,000 | 36,600,000 | | | |
CASH AND CASH EQUIVALENTS, end of period | | 55,400,000 | | 31,800,000 | 55,400,000 | 31,800,000 | | | |
Eliminations | | | | | | | | | |
Supplemental condensed consolidated statements of income and comprehensive income [Abstract] | | | | | | | | | |
Net sales | | (15,100,000) | | (13,400,000) | (43,600,000) | (38,000,000) | | | |
Cost of sales | | (15,100,000) | | (13,400,000) | (43,600,000) | (38,000,000) | | | |
Gross profit | | 0 | | 0 | 0 | 0 | | | |
Selling and marketing expenses | | 0 | | 0 | 0 | 0 | | | |
General, administrative and other expenses | | 0 | | 0 | 0 | 0 | | | |
Equity income in earnings of unconsolidated affiliates | | 0 | | 0 | 0 | 0 | | | |
Royalty income, net of royalty expense | | 0 | | 0 | 0 | 0 | | | |
Operating income | | 0 | | 0 | 0 | 0 | | | |
Other expense, net: | | | | | | | | | |
Third party interest expense, net | | 0 | | 0 | 0 | 0 | | | |
Intercompany interest (income) expense, net | | 0 | | 0 | 0 | 0 | | | |
Interest expense, net | | 0 | | 0 | 0 | 0 | | | |
Loss on extinguishment of debt | | | | | 0 | | | | |
Other (income) expense, net | | | | | | 0 | | | |
Other (income) expense, net | | 0 | | 0 | 0 | | | | |
Total other expense, net | | 0 | | 0 | 0 | 0 | | | |
Income from equity investees | | (110,100,000) | | (56,400,000) | (263,100,000) | (170,100,000) | | | |
Income before income taxes | | (110,100,000) | | (56,400,000) | (263,100,000) | (170,100,000) | | | |
Income tax benefit (provision) | | 0 | | 0 | 0 | 0 | | | |
Net income before non-controlling interest | | (110,100,000) | | (56,400,000) | (263,100,000) | (170,100,000) | | | |
Less: Net income attributable to non-controlling interest | | 1,200,000 | | (700,000) | 3,100,000 | (2,100,000) | | | |
Net income attributable to Tempur Sealy International, Inc. | | (111,300,000) | | (55,700,000) | (266,200,000) | (168,000,000) | | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | | (106,300,000) | | (32,600,000) | (272,100,000) | (113,500,000) | | | |
Current Assets: | | | | | | | | | |
Cash and cash equivalents | | 0 | | 0 | 0 | 0 | 0 | | 0 |
Accounts receivable, net | | | | | | | 0 | | 0 |
Inventories, net | | | | | | | 0 | | 0 |
Income taxes receivable | | | | | | | (229,000,000) | | (193,100,000) |
Prepaid expenses and other current assets | | | | | | | 0 | | 0 |
Total Current Assets | | | | | | | (229,000,000) | | (193,100,000) |
Property, plant and equipment, net | | | | | | | 0 | | 0 |
Goodwill | | | | | | | 0 | | 0 |
Other intangible assets, net | | | | | | | 0 | | 0 |
Deferred income taxes | | | | | | | (19,600,000) | | (16,000,000) |
Other non-current assets | | | | | | | 0 | | 0 |
Net investment in subsidiaries | | | | | | | (2,213,200,000) | | (1,960,500,000) |
Due from affiliates | | | | | | | (2,051,200,000) | | (2,208,200,000) |
Total Assets | | | | | | | (4,513,000,000) | | (4,377,800,000) |
Current Liabilities: | | | | | | | | | |
Accounts payable | | | | | | | 0 | | 0 |
Accrued expenses and other current liabilities | | | | | | | 0 | | 0 |
Income taxes payable | | | | | | | (229,000,000) | | (193,100,000) |
Current portion of long-term debt | | | | | | | 0 | | 0 |
Total Current Liabilities | | | | | | | (229,000,000) | | (193,100,000) |
Long-term debt, net | | | | | | | 0 | | 0 |
Deferred income taxes | | | | | | | (19,600,000) | | (16,000,000) |
Other non-current liabilities | | | | | | | 0 | | 0 |
Due to affiliates | | | | | | | (2,051,200,000) | | (2,303,200,000) |
Total Liabilities | | | | | | | (2,299,800,000) | | (2,512,300,000) |
Redeemable non-controlling interest | | | | | | | (9,300,000) | | (12,400,000) |
Total Stockholders’ Equity | | | | | | | (2,203,900,000) | | (1,853,100,000) |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity | | | | | | | $ (4,513,000,000) | | $ (4,377,800,000) |
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 | | | |
Contributions (paid to) received from subsidiaries and affiliates | | | | | 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 | 0 | | | |
Treasury stock repurchased | | | | | 0 | 0 | | | |
Payment of deferred financing costs | | | | | 0 | 0 | | | |
Fees paid to lenders | | | | | 0 | | | | |
Call premium on 2020 Senior Notes | | | | | 0 | | | | |
Proceeds from purchase of treasury shares by CEO | | | | | | 0 | | | |
Other | | | | | 0 | 0 | | | |
Net cash used in financing activities | | | | | 0 | 0 | | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | | | | 0 | 0 | | | |
(Decrease) increase in cash and cash equivalents | | | | | 0 | 0 | | | |
CASH AND CASH EQUIVALENTS, beginning of period | | | | | 0 | 0 | | | |
CASH AND CASH EQUIVALENTS, end of period | | $ 0 | | $ 0 | $ 0 | $ 0 | | | |
| |
[1] | As of September 30, 2015, the redemption value exceeded the accumulated earnings of the Company's redeemable non-controlling interest in Comfort Revolution, LLC. Accordingly, for the three and nine months ended September 30, 2015, the Company recorded a $0.2 million and $1.1 million adjustment, net of tax, respectively, to adjust the carrying value of redeemable non-controlling interest to its redemption value. [As of September 30, 2016, the accumulated earnings exceeded the redemption value and, accordingly, a redemption value adjustment was not necessary for the three or nine months ended September 30, 2016. | |
[2] | Net (loss) income attributable to the Company's redeemable non-controlling interest in Comfort Revolution, LLC for the three months ended September 30, 2016 and 2015 represented $(1.2) million and $0.5 million, respectively. Net (loss) income attributable to the Company's redeemable non-controlling interest in Comfort Revolution, LLC for the nine months ended September 30, 2016 and 2015 represented $(3.1) million and $1.0 million, respectively. | |