Guarantor/Non-Guarantor Financial Information (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | | |
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Dec. 31, 2016 |
Supplemental condensed consolidated statements of income and comprehensive income [Abstract] | | | | | | |
Net sales | $ 659.3 | $ 804.4 | $ 1,381.4 | $ 1,525.4 | | |
Cost of sales | 390.7 | 467.5 | 826.2 | 897.5 | | |
Gross profit | 268.6 | 336.9 | 555.2 | 627.9 | | |
Selling and marketing expenses | 152.3 | 172.8 | 306 | 322.9 | | |
General, administrative and other expenses | 69 | 71.9 | 135.5 | 143.6 | | |
Customer termination charges, net | 0 | 0 | 14.4 | 0 | | |
Equity income in earnings of unconsolidated affiliates | (4.4) | (3.4) | (7.1) | (6.2) | | |
Royalty income, net of royalty expense | (4.9) | (4.6) | (9.7) | (9.3) | | |
Operating (loss) income | 56.6 | 100.2 | 116.1 | 176.9 | | |
Other expense, net: | | | | | | |
Interest expense (income), net | 22.1 | 23.1 | 44.2 | 44.5 | | |
Loss on extinguishment of debt | 0 | 47.2 | 0 | 47.2 | | |
Other (income) expense, net | (0.3) | 0.7 | (9.5) | (0.3) | | |
Total other expense, net | 21.8 | 71 | 34.7 | 91.4 | | |
Income before income taxes | 34.8 | 29.2 | 81.4 | 85.5 | | |
Income tax benefit (provision) | (13.1) | (9.2) | (27.7) | (26.5) | | |
Net income before non-controlling interests | 21.7 | 20 | 53.7 | 59 | | |
Less: Net loss attributable to non-controlling interests | (2.8) | (1.3) | (4.7) | (1.9) | | |
Net income attributable to Tempur Sealy International, Inc. | 24.5 | 21.3 | 58.4 | 60.9 | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | 33.7 | 18 | 75.9 | 71.8 | | |
Current Assets: | | | | | | |
Cash and cash equivalents | 38.5 | 137.9 | 65.7 | 153.9 | $ 38.5 | $ 65.7 |
Accounts receivable, net | | | | | 356.2 | 345.1 |
Inventories | | | | | 194.5 | 196.8 |
Total Current Assets | | | | | 647.6 | 671.5 |
Property, plant and equipment, net | | | | | 424.8 | 422.2 |
Goodwill | | | | | 727.6 | 722.5 |
Other intangible assets, net | | | | | 672.9 | 678.7 |
Deferred income taxes | | | | | 25.5 | 22.5 |
Other non-current assets | | | | | 212.8 | 185.2 |
Total Assets | | | | | 2,711.2 | 2,702.6 |
Current Liabilities: | | | | | | |
Accounts payable | | | | | 231.8 | 219.3 |
Accrued expenses and other current liabilities | | | | | 227.5 | 250.1 |
Income taxes payable | | | | | 9.9 | 5.8 |
Current portion of long-term debt | | | | | 68.4 | 70.3 |
Total Current Liabilities | | | | | 537.6 | 545.5 |
Long-term debt, net | | | | | 1,793.2 | 1,817.8 |
Deferred income taxes | | | | | 163.3 | 174.6 |
Other non-current liabilities | | | | | 190 | 169.3 |
Total Liabilities | | | | | 2,684.1 | 2,707.2 |
Redeemable non-controlling interest | | | | | 5.3 | 7.6 |
Total Stockholders' Equity | | | | | 21.8 | (12.2) |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity | | | | | 2,711.2 | 2,702.6 |
Supplemental condensed consolidated statements of cash flows [Abstract] | | | | | | |
Net cash (used in) provided by operating activities | | | 75.2 | 51.9 | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | |
Purchases of property, plant and equipment | (13) | (11.7) | (25.9) | (24.3) | | |
Other | | | 0.9 | 0 | | |
Net cash (used in) provided by investing activities | | | (25) | (24.3) | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | |
Proceeds from borrowings under long-term debt obligations | | | 718.9 | 1,435.3 | | |
Repayments of borrowings under long-term debt obligations | | | (745.9) | (1,230.4) | | |
Proceeds from exercise of stock options | | | 1.9 | 6 | | |
Excess tax benefit from stock-based compensation | | | 0 | 3 | | |
Treasury stock repurchased | | | (44.1) | (217.3) | | |
Payments of deferred financing costs | | | (0.4) | (6.2) | | |
Fees paid to lenders | | | 0 | (7.8) | | |
Call premium on 2020 Senior Notes | | | 0 | (23.6) | | |
Other | | | (2.7) | 0.4 | | |
Net cash provided by (used in) financing activities | | | (72.3) | (40.6) | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | | (5.1) | (3) | | |
(Decrease) increase in cash and cash equivalents | | | (27.2) | (16) | | |
CASH AND CASH EQUIVALENTS, beginning of period | | | 65.7 | 153.9 | | |
CASH AND CASH EQUIVALENTS, end of period | 38.5 | 137.9 | 38.5 | 137.9 | | |
Tempur Sealy International, Inc. (Ultimate Parent) | | | | | | |
Other expense, net: | | | | | | |
Loss on extinguishment of debt | | 34.3 | | 34.3 | | |
Combined Guarantor Subsidiaries | | | | | | |
Other expense, net: | | | | | | |
Loss on extinguishment of debt | | 12.9 | | 12.9 | | |
Combined Non-Guarantor Subsidiaries | | | | | | |
Other expense, net: | | | | | | |
Loss on extinguishment of debt | | 0 | | 0 | | |
Consolidated | | | | | | |
Supplemental condensed consolidated statements of income and comprehensive income [Abstract] | | | | | | |
Net sales | 659.3 | 804.4 | 1,381.4 | 1,525.4 | | |
Cost of sales | 390.7 | 467.5 | 826.2 | 897.5 | | |
Gross profit | 268.6 | 336.9 | 555.2 | 627.9 | | |
Selling and marketing expenses | 152.3 | 172.8 | 306 | 322.9 | | |
General, administrative and other expenses | 69 | 71.9 | 135.5 | 143.6 | | |
Customer termination charges, net | | | 14.4 | | | |
Equity income in earnings of unconsolidated affiliates | (4.4) | (3.4) | (7.1) | (6.2) | | |
Royalty income, net of royalty expense | (4.9) | (4.6) | (9.7) | (9.3) | | |
Operating (loss) income | 56.6 | 100.2 | 116.1 | 176.9 | | |
Other expense, net: | | | | | | |
Third party interest expense, net | 22.1 | 23.1 | 44.2 | 44.5 | | |
Intercompany interest (income) expense, net | 0 | 0 | 0 | 0 | | |
Interest expense (income), net | 22.1 | 23.1 | 44.2 | 44.5 | | |
Loss on extinguishment of debt | | 47.2 | | 47.2 | | |
Other (income) expense, net | (0.3) | 0.7 | (9.5) | (0.3) | | |
Total other expense, net | 21.8 | 71 | 34.7 | 91.4 | | |
Income from equity investees | 0 | 0 | 0 | 0 | | |
Income before income taxes | 34.8 | 29.2 | 81.4 | 85.5 | | |
Income tax benefit (provision) | (13.1) | (9.2) | (27.7) | (26.5) | | |
Net income before non-controlling interests | 21.7 | 20 | 53.7 | 59 | | |
Less: Net loss attributable to non-controlling interests | (2.8) | (1.3) | (4.7) | (1.9) | | |
Net income attributable to Tempur Sealy International, Inc. | 24.5 | 21.3 | 58.4 | 60.9 | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | 33.7 | 18 | 75.9 | 71.8 | | |
Current Assets: | | | | | | |
Cash and cash equivalents | 38.5 | 137.9 | 65.7 | 153.9 | 38.5 | 65.7 |
Accounts receivable, net | | | | | 356.2 | 345.1 |
Inventories | | | | | 194.5 | 196.8 |
Income taxes receivable | | | | | 0 | 0 |
Prepaid expenses and other current assets | | | | | 58.4 | 63.9 |
Total Current Assets | | | | | 647.6 | 671.5 |
Property, plant and equipment, net | | | | | 424.8 | 422.2 |
Goodwill | | | | | 727.6 | 722.5 |
Other intangible assets, net | | | | | 672.9 | 678.7 |
Deferred income taxes | | | | | 25.5 | 22.5 |
Other non-current assets | | | | | 212.8 | 185.2 |
Net investment in subsidiaries | | | | | 0 | 0 |
Due from affiliates | | | | | 0 | 0 |
Total Assets | | | | | 2,711.2 | 2,702.6 |
Current Liabilities: | | | | | | |
Accounts payable | | | | | 231.8 | 219.3 |
Accrued expenses and other current liabilities | | | | | 227.5 | 250.1 |
Income taxes payable | | | | | 9.9 | 5.8 |
Current portion of long-term debt | | | | | 68.4 | 70.3 |
Total Current Liabilities | | | | | 537.6 | 545.5 |
Long-term debt, net | | | | | 1,793.2 | 1,817.8 |
Deferred income taxes | | | | | 163.3 | 174.6 |
Other non-current liabilities | | | | | 190 | 169.3 |
Due to affiliates | | | | | 0 | 0 |
Total Liabilities | | | | | 2,684.1 | 2,707.2 |
Redeemable non-controlling interest | | | | | 5.3 | 7.6 |
Total Stockholders' Equity | | | | | 21.8 | (12.2) |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity | | | | | 2,711.2 | 2,702.6 |
Supplemental condensed consolidated statements of cash flows [Abstract] | | | | | | |
Net cash (used in) provided by operating activities | | | 75.2 | 51.9 | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | |
Purchases of property, plant and equipment | | | (25.9) | (24.3) | | |
Contributions (paid to) received from subsidiaries and affiliates | | | 0 | 0 | | |
Other | | | 0.9 | | | |
Net cash (used in) provided by investing activities | | | (25) | (24.3) | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | |
Proceeds from borrowings under long-term debt obligations | | | 718.9 | 1,435.3 | | |
Repayments of borrowings under long-term debt obligations | | | (745.9) | (1,230.4) | | |
Net activity in investment in and advances from (to) subsidiaries and affiliates | | | 0 | 0 | | |
Proceeds from exercise of stock options | | | | 6 | | |
Excess tax benefit from stock-based compensation | | | | 3 | | |
Proceeds from issuance of treasury shares | | | 1.9 | | | |
Treasury stock repurchased | | | (44.1) | (217.3) | | |
Payments of deferred financing costs | | | (0.4) | (6.2) | | |
Fees paid to lenders | | | | (7.8) | | |
Call premium on 2020 Senior Notes | | | | (23.6) | | |
Other | | | (2.7) | 0.4 | | |
Net cash provided by (used in) financing activities | | | (72.3) | (40.6) | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | | (5.1) | (3) | | |
(Decrease) increase in cash and cash equivalents | | | (27.2) | (16) | | |
CASH AND CASH EQUIVALENTS, beginning of period | | | 65.7 | 153.9 | | |
CASH AND CASH EQUIVALENTS, end of period | 38.5 | 137.9 | 38.5 | 137.9 | | |
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 | 1.4 | 0.9 | 2.8 | 2.7 | | |
General, administrative and other expenses | 4.9 | 4 | 8.9 | 8.8 | | |
Customer termination charges, net | | | (8.4) | | | |
Equity income in earnings of unconsolidated affiliates | 0 | 0 | 0 | 0 | | |
Royalty income, net of royalty expense | 0 | 0 | 0 | 0 | | |
Operating (loss) income | (6.3) | (4.9) | (3.3) | (11.5) | | |
Other expense, net: | | | | | | |
Third party interest expense, net | 14.9 | 16.1 | 29.7 | 36.2 | | |
Intercompany interest (income) expense, net | (1.2) | (1.1) | (2.4) | (2.2) | | |
Interest expense (income), net | 13.7 | 15 | 27.3 | 34 | | |
Other (income) expense, net | 0 | 0 | 0 | 0 | | |
Total other expense, net | 13.7 | 49.3 | 27.3 | 68.3 | | |
Income from equity investees | 34.7 | 55.2 | 75.3 | 111.7 | | |
Income before income taxes | 14.7 | 1 | 44.7 | 31.9 | | |
Income tax benefit (provision) | 7 | 19 | 9 | 27.1 | | |
Net income before non-controlling interests | 21.7 | 20 | 53.7 | 59 | | |
Less: Net loss attributable to non-controlling interests | (2.8) | (1.3) | (4.7) | (1.9) | | |
Net income attributable to Tempur Sealy International, Inc. | 24.5 | 21.3 | 58.4 | 60.9 | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | 33.7 | 18 | 75.9 | 71.8 | | |
Current Assets: | | | | | | |
Cash and cash equivalents | 0.2 | 0 | 0 | 0 | 0.2 | 0 |
Accounts receivable, net | | | | | 0 | 0 |
Inventories | | | | | 0 | 0 |
Income taxes receivable | | | | | 247.5 | 234.2 |
Prepaid expenses and other current assets | | | | | 0.5 | 0 |
Total Current Assets | | | | | 248.2 | 234.2 |
Property, plant and equipment, net | | | | | 0 | 0 |
Goodwill | | | | | 0 | 0 |
Other intangible assets, net | | | | | 0 | 0 |
Deferred income taxes | | | | | 16.4 | 20.6 |
Other non-current assets | | | | | 0 | 0 |
Net investment in subsidiaries | | | | | 2,328.6 | 2,207.4 |
Due from affiliates | | | | | 102.6 | 168.4 |
Total Assets | | | | | 2,695.8 | 2,630.6 |
Current Liabilities: | | | | | | |
Accounts payable | | | | | 0 | 0.1 |
Accrued expenses and other current liabilities | | | | | 6.9 | 6.8 |
Income taxes payable | | | | | 0 | 0 |
Current portion of long-term debt | | | | | 0 | 0 |
Total Current Liabilities | | | | | 6.9 | 6.9 |
Long-term debt, net | | | | | 1,041.1 | 1,040.4 |
Deferred income taxes | | | | | 0 | 0 |
Other non-current liabilities | | | | | 0 | 0 |
Due to affiliates | | | | | 1,620.7 | 1,587.9 |
Total Liabilities | | | | | 2,668.7 | 2,635.2 |
Redeemable non-controlling interest | | | | | 5.3 | 7.6 |
Total Stockholders' Equity | | | | | 21.8 | (12.2) |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity | | | | | 2,695.8 | 2,630.6 |
Supplemental condensed consolidated statements of cash flows [Abstract] | | | | | | |
Net cash (used in) provided by operating activities | | | (27.9) | (29.9) | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | |
Purchases of property, plant and equipment | | | 0 | 0 | | |
Contributions (paid to) received from subsidiaries and affiliates | | | 0 | 0 | | |
Other | | | 0 | | | |
Net cash (used in) provided by investing activities | | | 0 | 0 | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | |
Proceeds from borrowings under long-term debt obligations | | | 0 | 600 | | |
Repayments of borrowings under long-term debt obligations | | | 0 | (375) | | |
Net activity in investment in and advances from (to) subsidiaries and affiliates | | | 70.3 | 45.7 | | |
Proceeds from exercise of stock options | | | | 6 | | |
Excess tax benefit from stock-based compensation | | | | 3 | | |
Proceeds from issuance of treasury shares | | | 1.9 | | | |
Treasury stock repurchased | | | (44.1) | (217.3) | | |
Payments of deferred financing costs | | | 0 | (2.9) | | |
Fees paid to lenders | | | | (6) | | |
Call premium on 2020 Senior Notes | | | | (23.6) | | |
Other | | | 0 | 0 | | |
Net cash provided by (used in) financing activities | | | 28.1 | 29.9 | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | | 0 | 0 | | |
(Decrease) increase in cash and cash equivalents | | | 0.2 | 0 | | |
CASH AND CASH EQUIVALENTS, beginning of period | | | 0 | 0 | | |
CASH AND CASH EQUIVALENTS, end of period | 0.2 | 0 | 0.2 | 0 | | |
Reportable Legal Entities | Combined Guarantor Subsidiaries | | | | | | |
Supplemental condensed consolidated statements of income and comprehensive income [Abstract] | | | | | | |
Net sales | 472.4 | 628.3 | 1,002.2 | 1,179 | | |
Cost of sales | 290.2 | 376.9 | 620.5 | 725.2 | | |
Gross profit | 182.2 | 251.4 | 381.7 | 453.8 | | |
Selling and marketing expenses | 102.3 | 126.1 | 207.2 | 228.3 | | |
General, administrative and other expenses | 45.5 | 51 | 89.8 | 102 | | |
Customer termination charges, net | | | 21.8 | | | |
Equity income in earnings of unconsolidated affiliates | 0 | 0 | 0 | 0 | | |
Royalty income, net of royalty expense | (4.9) | (4.7) | (9.7) | (9.5) | | |
Operating (loss) income | 39.3 | 79 | 72.6 | 133 | | |
Other expense, net: | | | | | | |
Third party interest expense, net | 6.4 | 6.1 | 12.9 | 6.9 | | |
Intercompany interest (income) expense, net | 3 | 0.1 | 2.8 | 0 | | |
Interest expense (income), net | 9.4 | 6.2 | 15.7 | 6.9 | | |
Other (income) expense, net | 0.2 | 0.2 | (9.2) | (1.4) | | |
Total other expense, net | 9.6 | 19.3 | 6.5 | 18.4 | | |
Income from equity investees | 16.3 | 19.2 | 31.9 | 41.2 | | |
Income before income taxes | 46 | 78.9 | 98 | 155.8 | | |
Income tax benefit (provision) | (11.3) | (23.7) | (22.7) | (44.1) | | |
Net income before non-controlling interests | 34.7 | 55.2 | 75.3 | 111.7 | | |
Less: Net loss attributable to non-controlling interests | 0 | (1.3) | 0 | (1.9) | | |
Net income attributable to Tempur Sealy International, Inc. | 34.7 | 56.5 | 75.3 | 113.6 | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | 34.5 | 57 | 70.6 | 114.2 | | |
Current Assets: | | | | | | |
Cash and cash equivalents | 6.5 | 59.8 | 7.9 | 119.7 | 6.5 | 7.9 |
Accounts receivable, net | | | | | 41.5 | 197.7 |
Inventories | | | | | 107.8 | 117.1 |
Income taxes receivable | | | | | 0 | 0 |
Prepaid expenses and other current assets | | | | | 37.4 | 48.9 |
Total Current Assets | | | | | 193.2 | 371.6 |
Property, plant and equipment, net | | | | | 350 | 346.9 |
Goodwill | | | | | 500.2 | 500.2 |
Other intangible assets, net | | | | | 583.3 | 589.8 |
Deferred income taxes | | | | | 0 | 0 |
Other non-current assets | | | | | 47.2 | 41.7 |
Net investment in subsidiaries | | | | | 110.5 | 77.7 |
Due from affiliates | | | | | 2,043.3 | 1,874.7 |
Total Assets | | | | | 3,827.7 | 3,802.6 |
Current Liabilities: | | | | | | |
Accounts payable | | | | | 166.4 | 157 |
Accrued expenses and other current liabilities | | | | | 153 | 172.6 |
Income taxes payable | | | | | 245 | 235.9 |
Current portion of long-term debt | | | | | 35.2 | 34.4 |
Total Current Liabilities | | | | | 599.6 | 599.9 |
Long-term debt, net | | | | | 691.4 | 776.5 |
Deferred income taxes | | | | | 161.7 | 174.9 |
Other non-current liabilities | | | | | 45.9 | 43.3 |
Due to affiliates | | | | | 0.5 | 0.6 |
Total Liabilities | | | | | 1,499.1 | 1,595.2 |
Redeemable non-controlling interest | | | | | 0 | 0 |
Total Stockholders' Equity | | | | | 2,328.6 | 2,207.4 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity | | | | | 3,827.7 | 3,802.6 |
Supplemental condensed consolidated statements of cash flows [Abstract] | | | | | | |
Net cash (used in) provided by operating activities | | | 226.9 | 32.3 | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | |
Purchases of property, plant and equipment | | | (20.8) | (19.4) | | |
Contributions (paid to) received from subsidiaries and affiliates | | | (107) | (40.1) | | |
Other | | | 0.8 | | | |
Net cash (used in) provided by investing activities | | | (127) | (59.5) | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | |
Proceeds from borrowings under long-term debt obligations | | | 453.7 | 830.1 | | |
Repayments of borrowings under long-term debt obligations | | | (538.6) | (839.6) | | |
Net activity in investment in and advances from (to) subsidiaries and affiliates | | | (16.6) | (17.1) | | |
Proceeds from exercise of stock options | | | | 0 | | |
Excess tax benefit from stock-based compensation | | | | 0 | | |
Proceeds from issuance of treasury shares | | | 0 | | | |
Treasury stock repurchased | | | 0 | 0 | | |
Payments of deferred financing costs | | | 0 | (3.3) | | |
Fees paid to lenders | | | | (1.8) | | |
Call premium on 2020 Senior Notes | | | | 0 | | |
Other | | | 0.2 | (1) | | |
Net cash provided by (used in) financing activities | | | (101.3) | (32.7) | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | | 0 | 0 | | |
(Decrease) increase in cash and cash equivalents | | | (1.4) | (59.9) | | |
CASH AND CASH EQUIVALENTS, beginning of period | | | 7.9 | 119.7 | | |
CASH AND CASH EQUIVALENTS, end of period | 6.5 | 59.8 | 6.5 | 59.8 | | |
Reportable Legal Entities | Combined Non-Guarantor Subsidiaries | | | | | | |
Supplemental condensed consolidated statements of income and comprehensive income [Abstract] | | | | | | |
Net sales | 205.7 | 190.8 | 418.4 | 374.8 | | |
Cost of sales | 119.3 | 105.3 | 244.9 | 200.7 | | |
Gross profit | 86.4 | 85.5 | 173.5 | 174.1 | | |
Selling and marketing expenses | 48.6 | 45.8 | 96 | 91.9 | | |
General, administrative and other expenses | 18.6 | 16.9 | 36.8 | 32.8 | | |
Customer termination charges, net | | | 1 | | | |
Equity income in earnings of unconsolidated affiliates | (4.4) | (3.4) | (7.1) | (6.2) | | |
Royalty income, net of royalty expense | 0 | 0.1 | 0 | 0.2 | | |
Operating (loss) income | 23.6 | 26.1 | 46.8 | 55.4 | | |
Other expense, net: | | | | | | |
Third party interest expense, net | 0.8 | 0.9 | 1.6 | 1.4 | | |
Intercompany interest (income) expense, net | (1.8) | 1 | (0.4) | 2.2 | | |
Interest expense (income), net | (1) | 1.9 | 1.2 | 3.6 | | |
Other (income) expense, net | (0.5) | 0.5 | (0.3) | 1.1 | | |
Total other expense, net | (1.5) | 2.4 | 0.9 | 4.7 | | |
Income from equity investees | 0 | 0 | 0 | 0 | | |
Income before income taxes | 25.1 | 23.7 | 45.9 | 50.7 | | |
Income tax benefit (provision) | (8.8) | (4.5) | (14) | (9.5) | | |
Net income before non-controlling interests | 16.3 | 19.2 | 31.9 | 41.2 | | |
Less: Net loss attributable to non-controlling interests | (2.8) | 0 | (4.7) | 0 | | |
Net income attributable to Tempur Sealy International, Inc. | 19.1 | 19.2 | 36.6 | 41.2 | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | 28.5 | 15.4 | 58.8 | 51.4 | | |
Current Assets: | | | | | | |
Cash and cash equivalents | 31.8 | 78.1 | 57.8 | 34.2 | 31.8 | 57.8 |
Accounts receivable, net | | | | | 314.7 | 147.4 |
Inventories | | | | | 86.7 | 79.7 |
Income taxes receivable | | | | | 0 | 0 |
Prepaid expenses and other current assets | | | | | 20.5 | 15 |
Total Current Assets | | | | | 453.7 | 299.9 |
Property, plant and equipment, net | | | | | 74.8 | 75.3 |
Goodwill | | | | | 227.4 | 222.3 |
Other intangible assets, net | | | | | 89.6 | 88.9 |
Deferred income taxes | | | | | 25.5 | 22.5 |
Other non-current assets | | | | | 165.6 | 143.5 |
Net investment in subsidiaries | | | | | 0 | 0 |
Due from affiliates | | | | | 11.9 | 14.3 |
Total Assets | | | | | 1,048.5 | 866.7 |
Current Liabilities: | | | | | | |
Accounts payable | | | | | 65.4 | 62.2 |
Accrued expenses and other current liabilities | | | | | 67.6 | 70.7 |
Income taxes payable | | | | | 12.4 | 4.1 |
Current portion of long-term debt | | | | | 33.2 | 35.9 |
Total Current Liabilities | | | | | 178.6 | 172.9 |
Long-term debt, net | | | | | 60.7 | 0.9 |
Deferred income taxes | | | | | 18 | 20.3 |
Other non-current liabilities | | | | | 144.1 | 126 |
Due to affiliates | | | | | 536.6 | 468.9 |
Total Liabilities | | | | | 938 | 789 |
Redeemable non-controlling interest | | | | | 5.3 | 7.6 |
Total Stockholders' Equity | | | | | 105.2 | 70.1 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity | | | | | 1,048.5 | 866.7 |
Supplemental condensed consolidated statements of cash flows [Abstract] | | | | | | |
Net cash (used in) provided by operating activities | | | (123.8) | 49.5 | | |
CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | |
Purchases of property, plant and equipment | | | (5.1) | (4.9) | | |
Contributions (paid to) received from subsidiaries and affiliates | | | 107 | 40.1 | | |
Other | | | 0.1 | | | |
Net cash (used in) provided by investing activities | | | 102 | 35.2 | | |
CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | |
Proceeds from borrowings under long-term debt obligations | | | 265.2 | 5.2 | | |
Repayments of borrowings under long-term debt obligations | | | (207.3) | (15.8) | | |
Net activity in investment in and advances from (to) subsidiaries and affiliates | | | (53.7) | (28.6) | | |
Proceeds from exercise of stock options | | | | 0 | | |
Excess tax benefit from stock-based compensation | | | | 0 | | |
Proceeds from issuance of treasury shares | | | 0 | | | |
Treasury stock repurchased | | | 0 | 0 | | |
Payments of deferred financing costs | | | (0.4) | 0 | | |
Fees paid to lenders | | | | 0 | | |
Call premium on 2020 Senior Notes | | | | 0 | | |
Other | | | (2.9) | 1.4 | | |
Net cash provided by (used in) financing activities | | | 0.9 | (37.8) | | |
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | | | (5.1) | (3) | | |
(Decrease) increase in cash and cash equivalents | | | (26) | 43.9 | | |
CASH AND CASH EQUIVALENTS, beginning of period | | | 57.8 | 34.2 | | |
CASH AND CASH EQUIVALENTS, end of period | 31.8 | 78.1 | 31.8 | 78.1 | | |
Eliminations | | | | | | |
Supplemental condensed consolidated statements of income and comprehensive income [Abstract] | | | | | | |
Net sales | (18.8) | (14.7) | (39.2) | (28.4) | | |
Cost of sales | (18.8) | (14.7) | (39.2) | (28.4) | | |
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 (loss) 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 (income), net | 0 | 0 | 0 | 0 | | |
Loss on extinguishment of debt | | 0 | | 0 | | |
Other (income) expense, net | 0 | 0 | 0 | 0 | | |
Total other expense, net | 0 | 0 | 0 | 0 | | |
Income from equity investees | (51) | (74.4) | (107.2) | (152.9) | | |
Income before income taxes | (51) | (74.4) | (107.2) | (152.9) | | |
Income tax benefit (provision) | 0 | 0 | 0 | 0 | | |
Net income before non-controlling interests | (51) | (74.4) | (107.2) | (152.9) | | |
Less: Net loss attributable to non-controlling interests | 2.8 | 1.3 | 4.7 | 1.9 | | |
Net income attributable to Tempur Sealy International, Inc. | (53.8) | (75.7) | (111.9) | (154.8) | | |
Comprehensive income attributable to Tempur Sealy International, Inc. | (63) | (72.4) | (129.4) | (165.6) | | |
Current Assets: | | | | | | |
Cash and cash equivalents | 0 | 0 | 0 | 0 | 0 | 0 |
Accounts receivable, net | | | | | 0 | 0 |
Inventories | | | | | 0 | 0 |
Income taxes receivable | | | | | (247.5) | (234.2) |
Prepaid expenses and other current assets | | | | | 0 | 0 |
Total Current Assets | | | | | (247.5) | (234.2) |
Property, plant and equipment, net | | | | | 0 | 0 |
Goodwill | | | | | 0 | 0 |
Other intangible assets, net | | | | | 0 | 0 |
Deferred income taxes | | | | | (16.4) | (20.6) |
Other non-current assets | | | | | 0 | 0 |
Net investment in subsidiaries | | | | | (2,439.1) | (2,285.1) |
Due from affiliates | | | | | (2,157.8) | (2,057.4) |
Total Assets | | | | | (4,860.8) | (4,597.3) |
Current Liabilities: | | | | | | |
Accounts payable | | | | | 0 | 0 |
Accrued expenses and other current liabilities | | | | | 0 | 0 |
Income taxes payable | | | | | (247.5) | (234.2) |
Current portion of long-term debt | | | | | 0 | 0 |
Total Current Liabilities | | | | | (247.5) | (234.2) |
Long-term debt, net | | | | | 0 | 0 |
Deferred income taxes | | | | | (16.4) | (20.6) |
Other non-current liabilities | | | | | 0 | 0 |
Due to affiliates | | | | | (2,157.8) | (2,057.4) |
Total Liabilities | | | | | (2,421.7) | (2,312.2) |
Redeemable non-controlling interest | | | | | (5.3) | (7.6) |
Total Stockholders' Equity | | | | | (2,433.8) | (2,277.5) |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity | | | | | $ (4,860.8) | $ (4,597.3) |
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 | 0 | | |
Other | | | 0 | | | |
Net cash (used in) provided by 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 | 0 | | |
Proceeds from exercise of stock options | | | | 0 | | |
Excess tax benefit from stock-based compensation | | | | 0 | | |
Proceeds from issuance of treasury shares | | | 0 | | | |
Treasury stock repurchased | | | 0 | 0 | | |
Payments of deferred financing costs | | | 0 | 0 | | |
Fees paid to lenders | | | | 0 | | |
Call premium on 2020 Senior Notes | | | | 0 | | |
Other | | | 0 | 0 | | |
Net cash provided by (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 | | |