Tempur Sealy International (TPX) 10-Q5 Nov 202020 Q3 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2020	Nov. 02, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	001-31922
Entity Registrant Name	TEMPUR SEALY INTERNATIONAL, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	33-1022198
Entity Address, Address Line One	1000 Tempur Way
Entity Address, City or Town	Lexington
Entity Address, State or Province	KY
Entity Address, Postal Zip Code	40511
City Area Code	800
Local Phone Number	878-8889
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	TPX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		51,588,496
Entity Central Index Key	0001206264
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Net sales	$ 1,132.3	$ 821	$ 2,619.9	$ 2,234.7
Cost of sales	602.1	460.4	1,466.7	1,278.9
Gross profit	530.2	360.6	1,153.2	955.8
Selling and marketing expenses	229.7	168.6	535.8	485.4
General, administrative and other expenses	125.1	75.3	288.1	218.7
Equity income in earnings of unconsolidated affiliates	(4.8)	(3.9)	(9.6)	(10.4)
Operating income	180.2	120.6	338.9	262.1
Other expense, net:
Interest expense, net	20.1	20.8	61	65.7
Loss on extinguishment of debt	0.9	0	0.9	0
Other (income) expense, net	0.5	(1.3)	(0.3)	6.5
Total other expense, net	20.5	22.1	62.2	59.2
Income from continuing operations before income taxes	159.7	98.5	276.7	202.9
Income tax provision	(40.3)	(26.1)	(73.2)	(58.8)
Income from continuing operations	119.4	72.4	203.5	144.1
Income (loss) from discontinued operations, net of tax	2.4	0.8	1.3	(0.8)
Net income before non-controlling interests	121.8	73.2	204.8	143.3
Less: Net income (loss) attributable to non-controlling interests	0.4	(0.1)	0.7	0
Net income attributable to Tempur Sealy International, Inc.	$ 121.4	$ 73.3	$ 204.1	$ 143.3
Basic
Earnings per share for continuing operations (in dollars per share)	$ 2.31	$ 1.33	$ 3.89	$ 2.63
Earnings (loss) per share for discontinued operations (in dollars per share)	0.04	0.01	0.02	(0.01)
Earnings per share (in dollars per share)	2.35	1.34	3.91	2.62
Diluted
Earnings per share for continuing operations (in dollars per share)	2.25	1.30	3.83	2.57
Earnings (loss) per share for discontinued operations (in dollars per share)	0.04	0.01	0.03	(0.01)
Earnings per share (in dollars per share)	$ 2.29	$ 1.31	$ 3.86	$ 2.56
Weighted average common shares outstanding:
Basic (in shares)	51.6	54.6	52.2	54.7
Diluted (in shares)	52.9	55.8	52.9	56

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income before non-controlling interests	$ 121.8	$ 73.2	$ 204.8	$ 143.3
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	12.1	(6.7)	(0.2)	0.3
Other comprehensive income (loss), net of tax	12.1	(6.7)	(0.2)	0.3
Comprehensive income	133.9	66.5	204.6	143.6
Less: Comprehensive income (loss) attributable to non-controlling interests	0.4	(0.1)	0.7	0
Comprehensive income attributable to Tempur Sealy International, Inc.	$ 133.5	$ 66.6	$ 203.9	$ 143.6

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Current Assets:
Cash and cash equivalents	$ 229.2	$ 64.9
Accounts receivable, net	440.8	372
Inventories	275.6	260.5
Prepaid expenses and other current assets	202.5	202.8
Total Current Assets	1,148.1	900.2
Property, plant and equipment, net	485.8	435.8
Goodwill	761.1	732.3
Other intangible assets, net	630.9	641.4
Operating lease right-of-use assets	305.6	245.4
Deferred income taxes	15.6	14.1
Other non-current assets	108.3	92.6
Total Assets	3,455.4	3,061.8
Current Liabilities:
Accounts payable	330.9	251.7
Accrued expenses and other current liabilities	601.4	473.2
Current portion of long-term debt	35.4	37.4
Income taxes payable	59	11
Total Current Liabilities	1,026.7	773.3
Long-term debt, net	1,494.6	1,502.6
Long-term operating lease obligations	275.3	205.4
Deferred income taxes	78.2	102.1
Other non-current liabilities	124.4	118
Total Liabilities	2,999.2	2,701.4
Redeemable non-controlling interest	8.9	0
Total Stockholders' Equity	447.3	360.4
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity	$ 3,455.4	$ 3,061.8

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Millions, $ in Millions	Total	Cumulative Effect, Period Of Adoption, Adjustment	Common Stock	Treasury Stock	Additional Paid in Capital	Retained Earnings	Retained EarningsCumulative Effect, Period Of Adoption, Adjustment	Accumulated Other Comprehensive Loss	Non-controlling Interest
Balance at beginning of period (in shares) at Dec. 31, 2018			99.2	44.7
Balance at beginning of period at Dec. 31, 2018	$ 217.5		$ 1	$ (1,737)	$ 532.1	$ 1,513.8		$ (95.3)	$ 2.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	143.3					143.3
Net income attributable to non-controlling interests	0
Repurchase of interest in subsidiary	(1.9)								(1.9)
Foreign currency adjustments, net of tax	0.3							0.3
Exercise of stock options (in shares)				(0.3)
Exercise of stock options	12.8			$ 3.6	9.2
Issuances of PRSUs, RSUs, and DSUs (in shares)				(0.2)
Issuances of PRSUs, RSUs, and DSUs	0			$ 3.6	(3.6)
Treasury stock repurchased (in shares)				0.7
Treasury stock repurchased	(52.3)			$ (52.3)
Treasury stock repurchased - PRSU/RSU/DSU releases (in shares)				0.1
Treasury stock repurchased - PRSU/RSU/DSU releases	(3.2)			$ (3.2)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	20				20
Balance at ending of period (in shares) at Sep. 30, 2019			99.2	45
Balance at end of period at Sep. 30, 2019	336.5		$ 1	$ (1,785.3)	557.7	1,657.1		(95)	1
Balance at beginning of period (in shares) at Jun. 30, 2019			99.2	44.4
Balance at beginning of period at Jun. 30, 2019	305.9		$ 1	$ (1,737.3)	545.6	1,583.8		(88.3)	1.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	73.3					73.3
Net income attributable to non-controlling interests	(0.1)								(0.1)
Foreign currency adjustments, net of tax	(6.7)							(6.7)
Exercise of stock options (in shares)				(0.1)
Exercise of stock options	7.3			$ 1.9	5.4
Issuances of PRSUs, RSUs, and DSUs	0			$ 0.1	(0.1)
Treasury stock repurchased (in shares)				0.7
Treasury stock repurchased	(50)			$ (50)
Treasury stock repurchased - PRSU/RSU/DSU releases	0
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	6.8				6.8
Balance at ending of period (in shares) at Sep. 30, 2019			99.2	45
Balance at end of period at Sep. 30, 2019	336.5		$ 1	$ (1,785.3)	557.7	1,657.1		(95)	1
Balance at beginning of period (in shares) at Dec. 31, 2019			99.2	45.4
Balance at beginning of period at Dec. 31, 2019	360.4	$ (6.5)	$ 1	$ (1,832.8)	575.7	1,703.3	$ (6.5)	(87.7)	0.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	204.1					204.1
Net income attributable to non-controlling interests	0.1								0.1
Dividend paid to non-controlling interest in subsidiary	0
Acquisition of non-controlling interest in subsidiary	0
Foreign currency adjustments, net of tax	(0.2)							(0.2)
Exercise of stock options	2.4			$ 0.5	1.9
Issuances of PRSUs, RSUs, and DSUs (in shares)				(0.4)
Issuances of PRSUs, RSUs, and DSUs	0			$ 5.8	(5.8)
Treasury stock repurchased (in shares)				2.6
Treasury stock repurchased	(187.5)			$ (187.5)
Treasury stock repurchased - PRSU/RSU/DSU releases (in shares)				0.1
Treasury stock repurchased - PRSU/RSU/DSU releases	(12.1)			$ (12.1)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	86.6				86.6
Balance at ending of period (in shares) at Sep. 30, 2020			99.2	47.7
Balance at end of period at Sep. 30, 2020	447.3		$ 1	$ (2,026.1)	658.4	1,900.9		(87.9)	1
Redeemable noncontrolling interest, beginning balance at Dec. 31, 2019	0
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income attributable to non-controlling interests	0.6
Acquisition of non-controlling interest in subsidiary	8.4
Dividend paid to non-controlling interest in subsidiary	(0.1)
Redeemable noncontrolling interest, ending balance at Sep. 30, 2020	8.9
Balance at beginning of period (in shares) at Jun. 30, 2020			99.2	47.7
Balance at beginning of period at Jun. 30, 2020	241		$ 1	$ (2,026.3)	586	1,779.5		(100)	0.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	121.4					121.4
Net income attributable to non-controlling interests	0.2								0.2
Foreign currency adjustments, net of tax	12.1							12.1
Exercise of stock options	0.9			0.2	0.7
Issuances of PRSUs, RSUs, and DSUs	0			0.1	(0.1)
Treasury stock repurchased - PRSU/RSU/DSU releases	(0.1)			$ (0.1)
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	71.8				71.8
Balance at ending of period (in shares) at Sep. 30, 2020			99.2	47.7
Balance at end of period at Sep. 30, 2020	447.3		$ 1	$ (2,026.1)	$ 658.4	$ 1,900.9		$ (87.9)	$ 1
Redeemable noncontrolling interest, beginning balance at Jun. 30, 2020	8.7
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income attributable to non-controlling interests	0.2
Redeemable noncontrolling interest, ending balance at Sep. 30, 2020	$ 8.9

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES FROM CONTINUING OPERATIONS:
Net income before non-controlling interests	$ 204.8	$ 143.3
(Income) loss from discontinued operations, net of tax	(1.3)	0.8
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:
Depreciation and amortization	72.5	66.7
Amortization of stock-based compensation	86.6	20
Amortization of deferred financing costs	2.6	1.7
Bad debt expense	32.8	7.3
Deferred income taxes	(23.4)	0.5
Dividends received from unconsolidated affiliates	15.8	12.8
Equity income in earnings of unconsolidated affiliates	(9.6)	(10.4)
Loss on extinguishment of debt	0.9	0
Foreign currency adjustments and other	0.4	(5.5)
Changes in operating assets and liabilities, net of effect of business acquisitions	115.8	(35.5)
Net cash provided by operating activities from continuing operations	497.9	201.7
CASH FLOWS FROM INVESTING ACTIVITIES FROM CONTINUING OPERATIONS:
Purchases of property, plant and equipment	(73.6)	(61.9)
Acquisitions, net of cash acquired	(37.9)	(17.1)
Other	0.1	15
Net cash used in investing activities from continuing operations	(111.4)	(64)
CASH FLOWS FROM FINANCING ACTIVITIES FROM CONTINUING OPERATIONS:
Proceeds from borrowings under long-term debt obligations	1,073.9	602.5
Repayments of borrowings under long-term debt obligations	(1,094.9)	(678.5)
Proceeds from exercise of stock options	2.4	12.8
Treasury stock repurchased	(199.6)	(55.5)
Payments of deferred financing costs	(1.4)	(0.1)
Repayments of finance lease obligations and other	(8.9)	(6)
Net cash used in financing activities from continuing operations	(228.5)	(124.8)
Net cash provided by continuing operations	158	12.9
CASH PROVIDED BY (USED IN) DISCONTINUED OPERATIONS
Operating cash flows	1.5	(1.7)
Investing cash flows	0	0
Financing cash flows	0	0
Net cash provided by (used in) discontinued operations	1.5	(1.7)
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	4.8	(4.1)
Increase in cash and cash equivalents	164.3	7.1
CASH AND CASH EQUIVALENTS, beginning of period	64.9	45.8
CASH AND CASH EQUIVALENTS, end of period	229.2	52.9
Cash paid during the period for:
Interest	46.1	53.5
Income taxes, net of refunds	$ 47	$ 40

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies (a) Basis of Presentation and Description of Business. Tempur Sealy International, Inc., a Delaware corporation, together with its subsidiaries, is a U.S. based, multinational company. The term "Tempur Sealy International" refers to Tempur Sealy International, Inc. only, and the term "Company" refers to Tempur Sealy International, Inc. and its consolidated subsidiaries. The Company develops, manufactures, markets and sells bedding products, which include mattresses, foundations and adjustable bases, and other products, which include pillows and other accessories. The Company also derives income from royalties by licensing Sealy® and Stearns & Foster® brands, technology and trademarks to other manufacturers. The Company sells its products through two sales channels: Wholesale and Direct. The Company has ownership interests in a group of Asia-Pacific joint ventures to develop markets for Sealy® branded products in those regions. The Company’s ownership interest in these joint ventures is 50.0%. The equity method of accounting is used for these joint ventures, over which the Company has significant influence but does not have control, and consolidation is not otherwise required. The Company's carrying value in its equity method investments of $16.0 million and $22.5 million at September 30, 2020 and December 31, 2019, respectively, is recorded in other non-current assets within the accompanying Condensed Consolidated Balance Sheets. The Company’s equity in the net income and losses of these investments is reported in equity income in earnings of unconsolidated affiliates in the accompanying Condensed Consolidated Statements of Income. Additionally, in October 2020, the Company entered into a 50.0% ownership joint venture to reacquire the rights and acquire the assets to manufacture, market and distribute Sealy® and Stearns & Foster® branded products in the United Kingdom. The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and include all of the information and disclosures required by generally accepted accounting principles in the United States ("GAAP") for interim financial reporting. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements of the Company and related footnotes for the year ended December 31, 2019, included in the 2019 Annual Report filed with the Securities and Exchange Commission on February 21, 2020. The results of operations for the interim periods are not necessarily indicative of results of operations for a full year. It is the opinion of management that all necessary adjustments for a fair presentation of the results of operations for the interim periods have been made and are of a recurring nature unless otherwise disclosed herein. (b) Adoption of New Accounting Standards. Goodwill. Effective January 1, 2020, the Company adopted Accounting Standards Update ("ASU") No. 2017-04, "Intangibles - Goodwill and Other (Topic 350)." The ASU simplifies the test for goodwill impairment, by eliminating Step 2 of the impairment test. Under ASU 2017-04, the goodwill impairment test is performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge is recognized for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill for the reporting unit. Adoption of this guidance did not have an impact on the Company's financial statements. Credit Losses . Effective January 1, 2020, the Company adopted ASU No. 2016-13 (c) Inventories . Inventories are stated at the lower of cost and net realizable value, determined by the first-in, first-out method, and consist of the following: September 30, December 31, (in millions) 2020 2019 Finished goods $ 139.4 $ 157.4 Work-in-process 12.1 10.8 Raw materials and supplies 124.1 92.3 $ 275.6 $ 260.5 (d) Accrued Sales Returns . The Company allows product returns through certain sales channels and on certain products. Estimated sales returns are provided at the time of sale based on historical sales channel return rates. Estimated future obligations related to these products are provided by a reduction of sales in the period in which the revenue is recognized. The Company considers the impact of recoverable salvage value on sales returns by segment in determining its estimate of future sales returns. Accrued sales returns are included in accrued expenses and other current liabilities in the accompanying Condensed Consolidated Balance Sheets. The Company had the following activity for sales returns from December 31, 2019 to September 30, 2020: (in millions) Balance as of December 31, 2019 $ 39.3 Amounts accrued 81.6 Returns charged to accrual (78.8) Balance as of September 30, 2020 $ 42.1 As of September 30, 2020 and December 31, 2019, $29.0 million and $26.2 million of accrued sales returns are included as a component of accrued expenses and other current liabilities and $13.1 million and $13.1 million of accrued sales returns are included in other non-current liabilities on the Company’s accompanying Condensed Consolidated Balance Sheets, respectively. (e) Warranties . The Company provides warranties on certain products, which vary by segment, product and brand. Estimates of warranty expenses are based primarily on historical claims experience and product testing. Estimated future obligations related to these products are charged to cost of sales in the period in which the related revenue is recognized. The Company considers the impact of recoverable salvage value on warranty costs in determining its estimate of future warranty obligations. The Company provides warranties on mattresses with varying warranty terms. Tempur-Pedic mattresses sold in the North America segment and all Sealy mattresses have warranty terms ranging from 10 to 25 years, generally non-prorated for the first 10 to 15 years and then prorated for the balance of the warranty term. Tempur-Pedic mattresses sold in the International segment have warranty terms ranging from 5 to 15 years, non-prorated for the first 5 years and then prorated on a straight-line basis for the last 10 years of the warranty term. Tempur-Pedic pillows have a warranty term of 3 years, non-prorated. The Company had the following activity for its accrued warranty expense from December 31, 2019 to September 30, 2020: (in millions) Balance as of December 31, 2019 $ 41.6 Amounts accrued 15.9 Warranties charged to accrual (15.7) Balance as of September 30, 2020 $ 41.8 As of September 30, 2020 and December 31, 2019, $18.8 million and $19.4 million of accrued warranty expense is included as a component of accrued expenses and other current liabilities and $23.0 million and $22.2 million of accrued warranty expense is included in other non-current liabilities on the Company’s accompanying Condensed Consolidated Balance Sheets, respectively. (f) Allowance for Credit Losses . The allowance for credit losses is the Company’s best estimate of the amount of expected lifetime credit losses in the Company’s accounts receivable. The Company estimates losses over the contractual life using assumptions to capture the risk of loss, even if remote, based principally on how long a receivable has been outstanding. Other factors considered include historical write-off experience, current economic conditions and also factors such as customer credit, past transaction history with the customer and changes in customer payment terms. The allowance for credit losses is included in accounts receivable, net in the accompanying Condensed Consolidated Balance Sheets. The Company had the following activity for its allowance for credit losses from December 31, 2019 to September 30, 2020: (in millions) Balance as of December 31, 2019 $ 71.9 ASU 2016-13 adoption impact 8.9 Amounts accrued 32.8 Write-offs charged against the allowance (17.0) Balance as of September 30, 2020 $ 96.6

Net Sales

Net Sales	9 Months Ended
Net Sales	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Net Sales	Net Sales The following table presents the Company's disaggregated revenue by channel, product and geographical region, including a reconciliation of disaggregated revenue by segment, for the three and nine months ended September 30, 2020: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 (in millions) North America International Consolidated North America International Consolidated Channel Wholesale $ 869.1 $ 118.1 $ 987.2 $ 1,973.3 $ 300.0 $ 2,273.3 Direct 107.4 37.7 145.1 250.9 95.7 346.6 Net sales $ 976.5 $ 155.8 $ 1,132.3 $ 2,224.2 $ 395.7 $ 2,619.9 North America International Consolidated North America International Consolidated Product Bedding $ 913.0 $ 123.6 $ 1,036.6 $ 2,086.3 $ 313.4 $ 2,399.7 Other 63.5 32.2 95.7 137.9 82.3 220.2 Net sales $ 976.5 $ 155.8 $ 1,132.3 $ 2,224.2 $ 395.7 $ 2,619.9 North America International Consolidated North America International Consolidated Geographical region United States $ 904.3 $ — $ 904.3 $ 2,078.8 $ — $ 2,078.8 Canada 72.2 — 72.2 145.4 — 145.4 International — 155.8 155.8 — 395.7 395.7 Net sales $ 976.5 $ 155.8 $ 1,132.3 $ 2,224.2 $ 395.7 $ 2,619.9 The following table presents the Company's disaggregated revenue by channel, product and geographical region, including a reconciliation of disaggregated revenue by segment, for the three and nine months ended September 30, 2019: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 (in millions) North America International Consolidated North America International Consolidated Channel Wholesale $ 602.2 $ 107.9 $ 710.1 $ 1,632.5 $ 325.7 $ 1,958.2 Direct 79.8 31.1 110.9 181.6 94.9 276.5 Net sales $ 682.0 $ 139.0 $ 821.0 $ 1,814.1 $ 420.6 $ 2,234.7 North America International Consolidated North America International Consolidated Product Bedding $ 640.6 $ 111.6 $ 752.2 $ 1,709.2 $ 335.4 $ 2,044.6 Other 41.4 27.4 68.8 104.9 85.2 190.1 Net sales $ 682.0 $ 139.0 $ 821.0 $ 1,814.1 $ 420.6 $ 2,234.7 North America International Consolidated North America International Consolidated Geographical region United States $ 621.4 $ — $ 621.4 $ 1,652.3 $ — $ 1,652.3 Canada 60.6 — 60.6 161.8 — 161.8 International — 139.0 139.0 — 420.6 420.6 Net sales $ 682.0 $ 139.0 $ 821.0 $ 1,814.1 $ 420.6 $ 2,234.7

Acquisitions

Acquisitions	9 Months Ended
Acquisitions	Sep. 30, 2020
Business Combinations [Abstract]
Acquisitions	Acquisitions Acquisition of Sherwood Bedding On January 31, 2020, the Company acquired an 80% ownership interest in a newly formed limited liability company containing substantially all of the assets of the Sherwood Bedding business for a cash purchase price of approximately $39.1 million, which included $1.2 million of cash acquired. The Company accounted for this transaction as a business combination. The preliminary allocation of the purchase price is based on estimated fair values of the assets acquired and liabilities assumed as of January 31, 2020, which included the following: (in millions) Working capital (accounts receivable and inventory, net of accounts payable and accrued liabilities) $ 5.8 Property and equipment 10.1 Goodwill 26.7 Customer relationships intangible assets 3.7 Operating lease right-of-use assets 19.9 Operating lease liabilities (19.9) Non-controlling interest (8.4) Purchase price, net of cash acquired $ 37.9 Goodwill is calculated as the excess of the purchase price over the net assets acquired and primarily represents the private label product growth opportunities and expected synergistic manufacturing benefits to be realized from the acquisition. The goodwill is deductible for income tax purposes and will be included within the North American reporting unit for goodwill impairment assessments.

Goodwill

Goodwill	9 Months Ended
Goodwill	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The following summarizes changes to the Company’s goodwill, by segment: (in millions) North America International Consolidated Balance as of December 31, 2019 $ 576.6 $ 155.7 $ 732.3 Goodwill resulting from acquisitions 26.7 — 26.7 Foreign currency translation and other (1.6) 3.7 2.1 Balance as of September 30, 2020 $ 601.7 $ 159.4 $ 761.1

Debt

Debt	9 Months Ended
Debt	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt	Debt Debt for the Company consists of the following: September 30, 2020 December 31, 2019 (in millions, except percentages) Amount Rate Amount Rate Maturity Date 2019 Credit Agreement: Term A Facility $ 409.1 (1) $ 425.0 (2) October 16, 2024 Revolver — (1) — (2) October 16, 2024 2026 Senior Notes 600.0 5.500% 600.0 5.500% June 15, 2026 2023 Senior Notes 450.0 5.625% 450.0 5.625% October 15, 2023 Securitized debt — (3) — (3) April 6, 2021 Finance lease obligations (4) 73.1 64.1 Various Other 3.1 7.9 Various Total debt 1,535.3 1,547.0 Less: Deferred financing costs 5.3 7.0 Total debt, net 1,530.0 1,540.0 Less: Current portion 35.4 37.4 Total long-term debt, net $ 1,494.6 $ 1,502.6 (1) Interest at LIBOR plus applicable margin of 1.250% as of September 30, 2020. (2) Interest at LIBOR plus applicable margin of 1.625% as of December 31, 2019. (3) Interest at one month LIBOR index plus 80 basis points. (4) Finance lease obligations are a non-cash financing activity. Refer to Note 6, "Leases". As of September 30, 2020, the Company was in compliance with all applicable debt covenants. 2019 Credit Agreement On October 16, 2019, the Company entered into the 2019 Credit Agreement with a syndicate of banks. The 2019 Credit Agreement provides for a $425.0 million revolving credit facility, a $425.0 million term loan facility, and an incremental facility in an aggregate amount of up to $550.0 million plus the amount of certain prepayments plus an additional unlimited amount subject to compliance with a maximum consolidated secured leverage ratio test. The 2019 Credit Agreement has a $60.0 million sub-facility for the issuance of letters of credit. As of September 30, 2020, total availability under the revolving credit facility was $424.9 million after a $0.1 million reduction for outstanding letters of credit. On May 13, 2020, the Company and certain of its subsidiaries entered into an amendment to the existing 2019 Credit Agreement. The amendment provided for a new 364-day $200.0 million term loan (the "364-Day Loan"). The Company used the proceeds of the 364-Day Loan to repay borrowings under the existing $425.0 million revolving credit facility and to pay fees and expenses in connection with the amendment. On September 14, 2020, the Company repaid the 364-Day Loan. Repayment of the 364-Day Loan lifted certain restrictions on dividends, share repurchases and the Company's ability to make certain investments. Securitized Debt The Company and certain of its subsidiaries are party to a securitization transaction with respect to certain accounts receivable due to the Company and certain of its subsidiaries (as amended, the "Accounts Receivable Securitization"). As of September 30, 2020, the Company had availability of $83.6 million under the Accounts Receivable Securitization. 2023 Senior Notes On October 8, 2020, the Company announced its election to conditionally redeem $200.0 million of the $450.0 million of its issued and outstanding 2023 Senior Notes on November 9, 2020 (the "Redemption Date"). The 2023 Senior Notes selected for redemption will be redeemed at 101.406% of their principal amount, plus the accrued and unpaid interest. The redemption is conditioned on the determination by the Company's Chief Financial Officer, in his sole discretion, as of the second business day before the Redemption Date, that the redemption continues to be reasonably prudent and consistent with the Company's objectives concerning liquidity, financing needs and funding costs. The Company intends to primarily use current cash and cash equivalents to fund the redemption. Fair Value of Financial Instruments Financial instruments, although not recorded at fair value on a recurring basis, include cash and cash equivalents, accounts receivable, accounts payable and the Company's debt obligations. The carrying value of cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of the short-term maturity of those instruments. Borrowings under the 2019 Credit Agreement and the securitized debt are at variable interest rates and accordingly their carrying amounts approximate fair value. The fair value of the following material financial instruments were based on observable inputs estimated using discounted cash flows and market-based expectations for interest rates, credit risk and the contractual terms of debt instruments. The fair values of these material financial instruments are as follows: Fair Value (in millions) September 30, 2020 December 31, 2019 2023 Senior Notes $ 457.6 $ 464.2 2026 Senior Notes 623.9 634.9

Leases

Leases	9 Months Ended
Leases	Sep. 30, 2020
Leases [Abstract]
Leases	Leases The following table summarizes the classification of operating and finance lease assets and obligations in the Company's Condensed Consolidated Balance Sheet as of September 30, 2020 and December 31, 2019: (in millions) September 30, 2020 December 31, 2019 Assets Operating lease assets Operating lease right-of-use assets $ 305.6 $ 245.4 Finance lease assets Property, plant and equipment, net 63.0 54.4 Total leased assets $ 368.6 $ 299.8 Liabilities Short-term: Operating lease obligations Accrued expenses and other current liabilities $ 59.6 $ 50.8 Finance lease obligations Current portion of long-term debt 11.0 8.2 Long-term: Operating lease obligations Long-term operating lease obligations 275.3 205.4 Finance lease obligations Long-term debt, net 62.1 55.9 Total lease obligations $ 408.0 $ 320.3 The following table summarizes the classification of lease expense in the Company's Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2020 and 2019: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2020 2019 2020 2019 Operating lease expense: Operating lease expense $ 19.1 $ 16.3 $ 55.8 $ 46.4 Short-term lease expense 2.6 2.9 8.3 5.2 Variable lease expense 6.0 4.8 15.7 13.6 Finance lease expense: Amortization of right-of-use assets 2.5 2.1 6.9 6.3 Interest on lease obligations 1.2 1.2 3.5 3.6 Total lease expense $ 31.4 $ 27.3 $ 90.2 $ 75.1 The following table sets forth the scheduled maturities of lease obligations as of September 30, 2020: (in millions) Operating Leases Finance Leases Total Year Ended December 31, 2020 (excluding the nine months ended September 30, 2020) $ 18.9 $ 3.8 $ 22.7 2021 72.1 15.1 87.2 2022 64.8 13.1 77.9 2023 52.5 10.4 62.9 2024 44.0 8.5 52.5 Thereafter 142.8 41.6 184.4 Total lease payments 395.1 92.5 487.6 Less: Interest 60.2 19.4 79.6 Present value of lease obligations $ 334.9 $ 73.1 $ 408.0 The following table provides lease term and discount rate information related to operating and finance leases as of September 30, 2020: September 30, 2020 Weighted average remaining lease term (years): Operating leases 6.69 Finance leases 8.09 Weighted average discount rate: Operating leases 4.95 % Finance leases 5.84 % The following table provides supplemental information related to the Company's Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2020 and 2019: Nine Months Ended (in millions) September 30, 2020 September 30, 2019 Cash paid for amounts included in the measurement of lease obligations: Operating cash flows paid for operating leases $ 51.0 $ 42.5 Operating cash flows paid for finance leases $ 3.6 $ 3.6 Financing cash flows paid for finance leases $ 7.5 $ 5.9 Right-of-use assets obtained in exchange for new operating lease obligations $ 95.1 $ 66.1 Right-of-use assets obtained in exchange for new finance lease obligations $ 16.5 $ 2.5
Leases	Leases The following table summarizes the classification of operating and finance lease assets and obligations in the Company's Condensed Consolidated Balance Sheet as of September 30, 2020 and December 31, 2019: (in millions) September 30, 2020 December 31, 2019 Assets Operating lease assets Operating lease right-of-use assets $ 305.6 $ 245.4 Finance lease assets Property, plant and equipment, net 63.0 54.4 Total leased assets $ 368.6 $ 299.8 Liabilities Short-term: Operating lease obligations Accrued expenses and other current liabilities $ 59.6 $ 50.8 Finance lease obligations Current portion of long-term debt 11.0 8.2 Long-term: Operating lease obligations Long-term operating lease obligations 275.3 205.4 Finance lease obligations Long-term debt, net 62.1 55.9 Total lease obligations $ 408.0 $ 320.3 The following table summarizes the classification of lease expense in the Company's Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2020 and 2019: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2020 2019 2020 2019 Operating lease expense: Operating lease expense $ 19.1 $ 16.3 $ 55.8 $ 46.4 Short-term lease expense 2.6 2.9 8.3 5.2 Variable lease expense 6.0 4.8 15.7 13.6 Finance lease expense: Amortization of right-of-use assets 2.5 2.1 6.9 6.3 Interest on lease obligations 1.2 1.2 3.5 3.6 Total lease expense $ 31.4 $ 27.3 $ 90.2 $ 75.1 The following table sets forth the scheduled maturities of lease obligations as of September 30, 2020: (in millions) Operating Leases Finance Leases Total Year Ended December 31, 2020 (excluding the nine months ended September 30, 2020) $ 18.9 $ 3.8 $ 22.7 2021 72.1 15.1 87.2 2022 64.8 13.1 77.9 2023 52.5 10.4 62.9 2024 44.0 8.5 52.5 Thereafter 142.8 41.6 184.4 Total lease payments 395.1 92.5 487.6 Less: Interest 60.2 19.4 79.6 Present value of lease obligations $ 334.9 $ 73.1 $ 408.0 The following table provides lease term and discount rate information related to operating and finance leases as of September 30, 2020: September 30, 2020 Weighted average remaining lease term (years): Operating leases 6.69 Finance leases 8.09 Weighted average discount rate: Operating leases 4.95 % Finance leases 5.84 % The following table provides supplemental information related to the Company's Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2020 and 2019: Nine Months Ended (in millions) September 30, 2020 September 30, 2019 Cash paid for amounts included in the measurement of lease obligations: Operating cash flows paid for operating leases $ 51.0 $ 42.5 Operating cash flows paid for finance leases $ 3.6 $ 3.6 Financing cash flows paid for finance leases $ 7.5 $ 5.9 Right-of-use assets obtained in exchange for new operating lease obligations $ 95.1 $ 66.1 Right-of-use assets obtained in exchange for new finance lease obligations $ 16.5 $ 2.5

Stockholders' Equity

Stockholders' Equity	9 Months Ended
Stockholders' Equity	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity (a) Treasury Stock. As of September 30, 2020, the Company had approximately $131.3 million remaining under the existing share repurchase program initially authorized by the Board of Directors in 2016. The Company did not repurchase shares under the program during the three months ended September 30, 2020. The Company repurchased 0.7 million shares under the program for approximately $50.0 million during the three months ended September 30, 2019. The Company repurchased 2.6 million shares and 0.7 million shares for approximately $187.5 million and $52.3 million during the nine months ended September 30, 2020 and 2019, respectively. In October 2020, the Board of Directors authorized an increase, of $168.7 million, to the existing share repurchase authorization of Tempur Sealy International's common stock to $300.0 million. In addition, the Company acquired shares upon the vesting of certain restricted stock units ("RSUs"), which were withheld to satisfy tax withholding obligations during each of the three and nine months ended September 30, 2020 and 2019. The shares withheld were valued at the closing price of the stock on the New York Stock Exchange on the vesting date or first business day prior to vesting, resulting in approximately $0.1 million and $0.0 million in treasury stock acquired during the three months ended September 30, 2020 and 2019, respectively. The Company acquired approximately $12.1 million and $3.2 million in treasury stock during the nine months ended September 30, 2020 and 2019, respectively. (b) Shareholder Rights Agreement. On March 27, 2020, the Board of Directors authorized and declared a dividend distribution of one right (a "Right") for each outstanding share of common stock of the Company to stockholders of record at the close of business on April 7, 2020 (the “Record Date”). Each Right entitled the registered holder to purchase from the Company one one-thousandth of a share of Series A Junior Participating Preferred Stock, $0.01 par value per share (the “Preferred Shares”), of the Company at an exercise price of $273.00 per one one-thousandth of a Preferred Share, subject to adjustment (the “Exercise Price”). In accordance with their terms, the Rights were set to expire at the close of business on March 26, 2021 or such other date as may be established by the Board of Directors as permitted under the Rights Agreement. On September 11, 2020, the Board of Directors accelerated the expiration of the Rights to the close of business on September 14, 2020, at which time the Rights expired and the Rights Agreement was terminated. (c) Common Stock Split. On October 28, 2020, the Board of Directors approved a four-for-one split of the Company's common stock. The stock split will be effected through a stock dividend entitling each shareholder of record on November 10, 2020 to receive an additional three shares of common stock for each share owned. The shares will be distributed after the close of trading on November 23, 2020, and trading of the Company’s common stock will begin on a split-adjusted basis on November 24, 2020. The Company’s consolidated financial statements as of and for the three and nine-month periods ended September 30, 2020 and 2019 do not reflect the four-for-one stock split, which will be effective on November 24, 2020. (d) AOCL . AOCL consisted of the following: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2020 2019 2020 2019 Foreign Currency Translation Balance at beginning of period $ (94.5) $ (84.7) $ (82.2) $ (91.7) Other comprehensive loss: Foreign currency translation adjustments (1) 12.1 (6.7) (0.2) 0.3 Balance at end of period $ (82.4) $ (91.4) $ (82.4) $ (91.4) Pensions Balance at beginning of period $ (5.5) $ (3.6) $ (5.5) $ (3.6) Other comprehensive loss: Net change from period revaluations — — 0.1 — Tax expense (2) — — (0.1) — Total other comprehensive income before reclassifications, net of tax $ — $ — $ — $ — Net amount reclassified to earnings (1) — — — — Tax benefit (2) — — — — Total amount reclassified from accumulated other comprehensive loss, net of tax $ — $ — $ — $ — Total other comprehensive loss — — — — Balance at end of period $ (5.5) $ (3.6) $ (5.5) $ (3.6) (1) In 2020 and 2019, there were no tax impacts related to foreign currency translation adjustments and no amounts were reclassified to earnings. (2) These amounts were included in the income tax provision in the accompanying Condensed Consolidated Statements of Income.

Other Items

Other Items	9 Months Ended
Other Items	Sep. 30, 2020
Accrued Liabilities and Other Liabilities [Abstract]
Other Items	Other Items Accrued expenses and other current liabilities Accrued expenses and other current liabilities consisted of the following: (in millions) September 30, 2020 December 31, 2019 Taxes $ 146.5 $ 136.0 Wages and benefits 97.0 79.5 Advertising 94.6 56.9 Operating lease obligations 59.6 50.8 Other 203.7 150.0 $ 601.4 $ 473.2

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
Stock-Based Compensation	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company’s stock-based compensation expense for the three and nine months ended September 30, 2020 and 2019 included performance restricted stock units ("PRSUs"), non-qualified stock options, restricted stock units ("RSUs") and deferred stock units ("DSUs"). A summary of the Company’s stock-based compensation expense is presented in the following table: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2020 2019 2020 2019 PRSU expense $ 65.0 $ 0.3 $ 66.2 $ 1.0 Option expense 1.3 1.3 3.7 3.7 RSU/DSU expense 5.5 5.2 16.7 15.3 Total stock-based compensation expense $ 71.8 $ 6.8 $ 86.6 $ 20.0 The Company grants PRSUs to executive officers and certain members of management. Actual payout under the PRSUs is dependent upon the achievement of certain financial goals. During the first quarter of 2020, the Company granted PRSUs as a component of the long-term incentive plan ("2020 PRSUs"). The Company has recorded stock-based compensation expense related to the 2020 PRSUs during the three and nine months ended September 30, 2020, as it was probable that the Company would achieve the specified performance target for the performance period. During 2017, the Company granted executive officers and certain members of management PRSUs if the Company achieves a certain level of adjusted earnings before interest, tax, depreciation and amortization as defined in the Company’s Credit Agreement ("adjusted EBITDA per credit facility") during four consecutive fiscal quarters as described below (the "2019 Aspirational Plan PRSUs"). The 2019 Aspirational Plan PRSUs will vest based on the highest adjusted EBITDA per credit facility in any four consecutive fiscal quarter period ending between (and including) March 31, 2018 and December 31, 2019 (the “First Designated Period”). At the end of the First Designated Period, the adjusted EBITDA per credit facility targets were not met and one-half of the total 2019 Aspirational Plan PRSUs were forfeited. The remaining one-half of the total 2019 Aspirational Plan PRSUs will vest based on the highest adjusted EBITDA per credit facility in any four consecutive fiscal quarter period ending between (and including) March 31, 2020 and December 31, 2020 (the "Second Designated Period"). If the highest adjusted EBITDA per credit facility in the Second Designated Period is $600.0 million then 66% of the remaining 2019 Aspirational Plan PRSUs will vest; if the adjusted EBITDA per credit facility is $650.0 million or more 100% will vest; if adjusted EBITDA per credit facility is between $600.0 million and $650.0 million then a pro rata portion will vest; and if adjusted EBITDA per credit facility is below $600.0 million then all of the remaining 2019 Aspirational Plan PRSUs will be forfeited.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is involved in various legal and administrative proceedings incidental to the operations of its business. The Company believes that the outcome of all such pending proceedings in the aggregate will not have a material adverse effect on its business, financial condition, liquidity or operating results.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate for the three months ended September 30, 2020 and 2019 was 25.2% and 26.5%, respectively. The Company's effective tax rate for the nine months ended September 30, 2020 and 2019 was 26.5% and 29.0%, respectively. The Company's effective tax rate for the three and nine months ended September 30, 2020 and 2019 differed from the U.S. federal statutory rate of 21.0% principally due to subpart F income (i.e., GILTI earned by the Company’s foreign subsidiaries), certain foreign income tax rate differentials, state and local taxes, changes in the Company’s uncertain tax positions, the excess tax deficiency (or benefit) related to stock-based compensation and certain other permanent items. On March 27, 2020, the U.S. Government enacted the Coronavirus Aid, Relief and Economic Security Act (“CARES Act”) which includes modifications to the limitation on business interest expense and net operating loss provisions. The CARES Act is not expected to have a material impact on the Company’s consolidated financial statements. The Company has been involved in a dispute with the Danish Tax Authority ("SKAT") regarding the royalty paid by a U.S. subsidiary of Tempur Sealy International to a Danish subsidiary (the "Danish Tax Matter") for tax years 2001 through current. The royalty is paid by the U.S. subsidiary for the right to utilize certain intangible assets owned by the Danish subsidiary in the U.S. production process. At September 30, 2020 and December 31, 2019, the Danish income tax liability recorded in the Company’s balance sheet for the periods 2001 through September 30, 2020 and December 31, 2019, respectively, is DKK 1,126.3 million and DKK 1,110.6 million, respectively (approximately $177.4 million and $166.7 million using the applicable exchange rates at September 30, 2020 and December 31, 2019, respectively). The liability at September 30, 2020 and December 31, 2019 is included within the Company’s Condensed Consolidated Balance Sheet (translated at the exchange rate on September 30, 2020 and December 31, 2019) as per below: September 30, 2020 December 31, 2019 DKK USD DKK USD Accrued expenses and other current liabilities 847.3 $ 133.5 847.3 $ 127.2 Other non-current liabilities 279.0 43.9 263.3 39.5 Total 1,126.3 $ 177.4 1,110.6 $ 166.7 During the three months ended September 30, 2020, the Company made a tax deposit with SKAT of DKK 76.8 million applicable to a tax assessment by SKAT for the year 2014. Also, during the three months ended March 31, 2020 the Company made a tax deposit with SKAT of DKK 134.0 million applicable to a tax assessment by SKAT for the years 2012 and 2013. The Company is contesting both assessments. At September 30, 2020 and December 31, 2019, respectively, the Company held on deposit with SKAT DKK 1,180.9 million and DKK 970.1 million (approximately $186.0 million and $145.6 million using the applicable exchange rates at September 30, 2020 and December 31, 2019, respectively). The deposit is for the satisfaction of the anticipated liability for both tax and interest once these matters are concluded. The deposit at September 30, 2020 and December 31, 2019 is included within the Company’s Condensed Consolidated Balance Sheet (translated at the exchange rates on September 30, 2020 and December 31, 2019) as per below: September 30, 2020 December 31, 2019 DKK USD DKK USD Prepaid expenses and other current assets 847.3 $ 133.5 847.3 $ 127.2 Other non-current assets 333.6 52.5 122.8 18.4 Total 1,180.9 $ 186.0 970.1 $ 145.6 There were no significant changes in the Danish Tax Matter or other uncertain tax positions during the three or nine months ended September 30, 2020.

Earnings Per Common Share

Earnings Per Common Share	9 Months Ended
Earnings Per Common Share	Sep. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Common Share	Earnings Per Common Share The following table sets forth the components of the numerator and denominator for the computation of basic and diluted earnings per share for net income attributable to Tempur Sealy International. Three Months Ended Nine Months Ended September 30, September 30, (in millions, except per common share amounts) 2020 2019 2020 2019 Numerator: Income from continuing operations, net of income attributable to non-controlling interests $ 119.0 $ 72.5 $ 202.8 $ 144.1 Denominator: Denominator for basic earnings per common share-weighted average shares 51.6 54.6 52.2 54.7 Effect of dilutive securities: Employee stock-based compensation 1.3 1.2 0.7 1.3 Denominator for diluted earnings per common share-adjusted weighted average shares 52.9 55.8 52.9 56.0 Basic earnings per common share for continuing operations $ 2.31 $ 1.33 $ 3.89 $ 2.63 Diluted earnings per common share for continuing operations $ 2.25 $ 1.30 $ 3.83 $ 2.57

Business Segment Information

Business Segment Information	9 Months Ended
Business Segment Information	Sep. 30, 2020
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company operates in two segments: North America and International. Corporate operating expenses are not included in either of the segments and are presented separately as a reconciling item to consolidated results. These segments are strategic business units that are managed separately based on geography. The North America segment consists of Tempur and Sealy manufacturing and distribution subsidiaries, joint ventures and licensees located in the U.S. and Canada. The International segment consists of Tempur and Sealy manufacturing and distribution subsidiaries, joint ventures and licensees located in Europe, Asia-Pacific and Latin America. The Company evaluates segment performance based on net sales, gross profit and operating income. The Company’s North America and International segment assets include investments in subsidiaries that are appropriately eliminated in the Company’s accompanying Condensed Consolidated Financial Statements. The remaining inter-segment eliminations are comprised of intercompany accounts receivable and payable. The following table summarizes total assets by segment: (in millions) September 30, 2020 December 31, 2019 North America $ 3,595.8 $ 3,142.9 International 647.6 615.3 Corporate 582.8 477.1 Inter-segment eliminations (1,370.8) (1,173.5) Total assets $ 3,455.4 $ 3,061.8 The following table summarizes property, plant and equipment, net, by segment: (in millions) September 30, 2020 December 31, 2019 North America $ 390.2 $ 328.9 International 52.3 51.8 Corporate 43.3 55.1 Total property, plant and equipment, net $ 485.8 $ 435.8 The following table summarizes operating lease right-of-use assets by segment: (in millions) September 30, 2020 December 31, 2019 North America $ 261.5 $ 202.0 International 41.9 42.2 Corporate 2.2 1.2 Total operating lease right-of-use assets $ 305.6 $ 245.4 The following table summarizes segment information for the three months ended September 30, 2020: (in millions) North America International Corporate Eliminations Consolidated Net sales $ 976.5 $ 155.8 $ — $ — $ 1,132.3 Inter-segment sales $ 0.2 $ 0.3 $ — $ (0.5) $ — Inter-segment royalty expense (income) 2.5 (2.5) — — — Gross profit 438.6 91.6 — — 530.2 Operating income (loss) 231.5 44.8 (96.1) — 180.2 Income (loss) from continuing operations before income taxes 229.9 44.1 (114.3) — 159.7 Depreciation and amortization (1) $ 19.6 $ 3.6 $ 73.6 $ — $ 96.8 Capital expenditures 20.2 2.0 2.0 — 24.2 (1) Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the three months ended September 30, 2019: (in millions) North America International Corporate Eliminations Consolidated Net sales $ 682.0 $ 139.0 $ — $ — $ 821.0 Inter-segment sales $ 0.6 $ — $ — $ (0.6) $ — Inter-segment royalty expense (income) 1.2 (1.2) — — — Gross profit 286.8 73.8 — — 360.6 Operating income (loss) 119.8 27.3 (26.5) — 120.6 Income (loss) from continuing operations before income taxes 117.8 24.0 (43.3) — 98.5 Depreciation and amortization (1) $ 17.1 $ 3.4 $ 9.5 $ — $ 30.0 Capital expenditures 15.0 2.0 5.0 — 22.0 (1) Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the nine months ended September 30, 2020: (in millions) North America International Corporate Eliminations Consolidated Net sales $ 2,224.2 $ 395.7 $ — $ — $ 2,619.9 Inter-segment sales $ 1.1 $ 0.4 $ — $ (1.5) $ — Inter-segment royalty expense (income) 4.6 (4.6) — — — Gross profit 932.0 221.2 — — 1,153.2 Operating income (loss) 402.3 81.0 (144.4) — 338.9 Income (loss) from continuing operations before income taxes 397.5 76.2 (197.0) — 276.7 Depreciation and amortization (1) $ 55.8 $ 10.3 $ 93.0 $ — $ 159.1 Capital expenditures 59.6 7.5 6.5 — 73.6 (1) Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the nine months ended September 30, 2019: (in millions) North America International Corporate Eliminations Consolidated Net sales $ 1,814.1 $ 420.6 $ — $ — $ 2,234.7 Inter-segment sales $ 2.5 $ 0.4 $ — $ (2.9) $ — Inter-segment royalty expense (income) 3.2 (3.2) — — — Gross profit 731.2 224.6 — — 955.8 Operating income (loss) 264.2 79.9 (82.0) — 262.1 Income (loss) from continuing operations before income taxes 258.8 77.0 (132.9) — 202.9 Depreciation and amortization (1) $ 47.7 $ 10.2 $ 28.8 $ — $ 86.7 Capital expenditures 42.3 8.0 11.6 — 61.9 (1) Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes property, plant and equipment, net by geographic region: (in millions) September 30, 2020 December 31, 2019 United States $ 418.0 $ 366.4 Canada 15.5 17.5 Other International 52.3 51.9 Total property, plant and equipment, net $ 485.8 $ 435.8 Total International $ 67.8 $ 69.4 The following table summarizes operating lease right-of-use assets by geographic region: (in millions) September 30, 2020 December 31, 2019 United States $ 260.0 $ 198.3 Canada 3.7 4.9 Other International 41.9 42.2 Total operating lease right-of-use assets $ 305.6 $ 245.4 Total International $ 45.6 $ 47.1 The following table summarizes net sales by geographic region: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2020 2019 2020 2019 United States $ 904.3 $ 621.4 $ 2,078.8 $ 1,652.3 Canada 72.2 60.6 145.4 161.8 Other International 155.8 139.0 395.7 420.6 Total net sales $ 1,132.3 $ 821.0 $ 2,619.9 $ 2,234.7 Total International $ 228.0 $ 199.6 $ 541.1 $ 582.4

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation and Description of Business	Basis of Presentation and Description of Business. Tempur Sealy International, Inc., a Delaware corporation, together with its subsidiaries, is a U.S. based, multinational company. The term "Tempur Sealy International" refers to Tempur Sealy International, Inc. only, and the term "Company" refers to Tempur Sealy International, Inc. and its consolidated subsidiaries. The Company develops, manufactures, markets and sells bedding products, which include mattresses, foundations and adjustable bases, and other products, which include pillows and other accessories. The Company also derives income from royalties by licensing Sealy® and Stearns & Foster® brands, technology and trademarks to other manufacturers. The Company sells its products through two sales channels: Wholesale and Direct. The Company has ownership interests in a group of Asia-Pacific joint ventures to develop markets for Sealy® branded products in those regions. The Company’s ownership interest in these joint ventures is 50.0%. The equity method of accounting is used for these joint ventures, over which the Company has significant influence but does not have control, and consolidation is not otherwise required. The Company's carrying value in its equity method investments of $16.0 million and $22.5 million at September 30, 2020 and December 31, 2019, respectively, is recorded in other non-current assets within the accompanying Condensed Consolidated Balance Sheets. The Company’s equity in the net income and losses of these investments is reported in equity income in earnings of unconsolidated affiliates in the accompanying Condensed Consolidated Statements of Income. Additionally, in October 2020, the Company entered into a 50.0% ownership joint venture to reacquire the rights and acquire the assets to manufacture, market and distribute Sealy® and Stearns & Foster® branded products in the United Kingdom. The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and include all of the information and disclosures required by generally accepted accounting principles in the United States ("GAAP") for interim financial reporting. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements of the Company and related footnotes for the year ended December 31, 2019, included in the 2019 Annual Report filed with the Securities and Exchange Commission on February 21, 2020. The results of operations for the interim periods are not necessarily indicative of results of operations for a full year. It is the opinion of management that all necessary adjustments for a fair presentation of the results of operations for the interim periods have been made and are of a recurring nature unless otherwise disclosed herein.
Adoption of New Accounting Standards	(b) Adoption of New Accounting Standards. Goodwill. Effective January 1, 2020, the Company adopted Accounting Standards Update ("ASU") No. 2017-04, "Intangibles - Goodwill and Other (Topic 350)." The ASU simplifies the test for goodwill impairment, by eliminating Step 2 of the impairment test. Under ASU 2017-04, the goodwill impairment test is performed by comparing the fair value of a reporting unit with its carrying amount. An impairment charge is recognized for the amount by which the carrying amount exceeds the reporting unit's fair value, not to exceed the total amount of goodwill for the reporting unit. Adoption of this guidance did not have an impact on the Company's financial statements. ASU No. 2016-13
Inventories	Inventories. Inventories are stated at the lower of cost and net realizable value, determined by the first-in, first-out method
Accrued Sales Returns	Accrued Sales Returns. The Company allows product returns through certain sales channels and on certain products. Estimated sales returns are provided at the time of sale based on historical sales channel return rates. Estimated future obligations related to these products are provided by a reduction of sales in the period in which the revenue is recognized. The Company considers the impact of recoverable salvage value on sales returns by segment in determining its estimate of future sales returns. Accrued sales returns are included in accrued expenses and other current liabilities in the accompanying Condensed Consolidated Balance Sheets.
Warranties	Warranties . The Company provides warranties on certain products, which vary by segment, product and brand. Estimates of warranty expenses are based primarily on historical claims experience and product testing. Estimated future obligations related to these products are charged to cost of sales in the period in which the related revenue is recognized. The Company considers the impact of recoverable salvage value on warranty costs in determining its estimate of future warranty obligations.
Allowance for Credit Losses	Allowance for Credit Losses . The allowance for credit losses is the Company’s best estimate of the amount of expected lifetime credit losses in the Company’s accounts receivable. The Company estimates losses over the contractual life using assumptions to capture the risk of loss, even if remote, based principally on how long a receivable has been outstanding. Other factors considered include historical write-off experience, current economic conditions and also factors such as customer credit, past transaction history with the customer and changes in customer payment terms. The allowance for credit losses is included in accounts receivable, net in the accompanying Condensed Consolidated Balance Sheets.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
Summary of Significant Accounting Policies (Tables)	Sep. 30, 2020
Accounting Policies [Abstract]
Schedule of inventory	Inventories are stated at the lower of cost and net realizable value, determined by the first-in, first-out method, and consist of the following: September 30, December 31, (in millions) 2020 2019 Finished goods $ 139.4 $ 157.4 Work-in-process 12.1 10.8 Raw materials and supplies 124.1 92.3 $ 275.6 $ 260.5
Changes in accrued sales returns	The Company had the following activity for sales returns from December 31, 2019 to September 30, 2020: (in millions) Balance as of December 31, 2019 $ 39.3 Amounts accrued 81.6 Returns charged to accrual (78.8) Balance as of September 30, 2020 $ 42.1
Warranty activity	The Company had the following activity for its accrued warranty expense from December 31, 2019 to September 30, 2020: (in millions) Balance as of December 31, 2019 $ 41.6 Amounts accrued 15.9 Warranties charged to accrual (15.7) Balance as of September 30, 2020 $ 41.8
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The Company had the following activity for its allowance for credit losses from December 31, 2019 to September 30, 2020: (in millions) Balance as of December 31, 2019 $ 71.9 ASU 2016-13 adoption impact 8.9 Amounts accrued 32.8 Write-offs charged against the allowance (17.0) Balance as of September 30, 2020 $ 96.6

Net Sales (Tables)

Net Sales (Tables)	9 Months Ended
Net Sales (Tables)	Sep. 30, 2020
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents the Company's disaggregated revenue by channel, product and geographical region, including a reconciliation of disaggregated revenue by segment, for the three and nine months ended September 30, 2020: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 (in millions) North America International Consolidated North America International Consolidated Channel Wholesale $ 869.1 $ 118.1 $ 987.2 $ 1,973.3 $ 300.0 $ 2,273.3 Direct 107.4 37.7 145.1 250.9 95.7 346.6 Net sales $ 976.5 $ 155.8 $ 1,132.3 $ 2,224.2 $ 395.7 $ 2,619.9 North America International Consolidated North America International Consolidated Product Bedding $ 913.0 $ 123.6 $ 1,036.6 $ 2,086.3 $ 313.4 $ 2,399.7 Other 63.5 32.2 95.7 137.9 82.3 220.2 Net sales $ 976.5 $ 155.8 $ 1,132.3 $ 2,224.2 $ 395.7 $ 2,619.9 North America International Consolidated North America International Consolidated Geographical region United States $ 904.3 $ — $ 904.3 $ 2,078.8 $ — $ 2,078.8 Canada 72.2 — 72.2 145.4 — 145.4 International — 155.8 155.8 — 395.7 395.7 Net sales $ 976.5 $ 155.8 $ 1,132.3 $ 2,224.2 $ 395.7 $ 2,619.9 The following table presents the Company's disaggregated revenue by channel, product and geographical region, including a reconciliation of disaggregated revenue by segment, for the three and nine months ended September 30, 2019: Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 (in millions) North America International Consolidated North America International Consolidated Channel Wholesale $ 602.2 $ 107.9 $ 710.1 $ 1,632.5 $ 325.7 $ 1,958.2 Direct 79.8 31.1 110.9 181.6 94.9 276.5 Net sales $ 682.0 $ 139.0 $ 821.0 $ 1,814.1 $ 420.6 $ 2,234.7 North America International Consolidated North America International Consolidated Product Bedding $ 640.6 $ 111.6 $ 752.2 $ 1,709.2 $ 335.4 $ 2,044.6 Other 41.4 27.4 68.8 104.9 85.2 190.1 Net sales $ 682.0 $ 139.0 $ 821.0 $ 1,814.1 $ 420.6 $ 2,234.7 North America International Consolidated North America International Consolidated Geographical region United States $ 621.4 $ — $ 621.4 $ 1,652.3 $ — $ 1,652.3 Canada 60.6 — 60.6 161.8 — 161.8 International — 139.0 139.0 — 420.6 420.6 Net sales $ 682.0 $ 139.0 $ 821.0 $ 1,814.1 $ 420.6 $ 2,234.7

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
Acquisitions (Tables)	Sep. 30, 2020
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The preliminary allocation of the purchase price is based on estimated fair values of the assets acquired and liabilities assumed as of January 31, 2020, which included the following: (in millions) Working capital (accounts receivable and inventory, net of accounts payable and accrued liabilities) $ 5.8 Property and equipment 10.1 Goodwill 26.7 Customer relationships intangible assets 3.7 Operating lease right-of-use assets 19.9 Operating lease liabilities (19.9) Non-controlling interest (8.4) Purchase price, net of cash acquired $ 37.9

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
Goodwill (Tables)	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill by business segment	The following summarizes changes to the Company’s goodwill, by segment: (in millions) North America International Consolidated Balance as of December 31, 2019 $ 576.6 $ 155.7 $ 732.3 Goodwill resulting from acquisitions 26.7 — 26.7 Foreign currency translation and other (1.6) 3.7 2.1 Balance as of September 30, 2020 $ 601.7 $ 159.4 $ 761.1

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of long term debt	Debt for the Company consists of the following: September 30, 2020 December 31, 2019 (in millions, except percentages) Amount Rate Amount Rate Maturity Date 2019 Credit Agreement: Term A Facility $ 409.1 (1) $ 425.0 (2) October 16, 2024 Revolver — (1) — (2) October 16, 2024 2026 Senior Notes 600.0 5.500% 600.0 5.500% June 15, 2026 2023 Senior Notes 450.0 5.625% 450.0 5.625% October 15, 2023 Securitized debt — (3) — (3) April 6, 2021 Finance lease obligations (4) 73.1 64.1 Various Other 3.1 7.9 Various Total debt 1,535.3 1,547.0 Less: Deferred financing costs 5.3 7.0 Total debt, net 1,530.0 1,540.0 Less: Current portion 35.4 37.4 Total long-term debt, net $ 1,494.6 $ 1,502.6 (1) Interest at LIBOR plus applicable margin of 1.250% as of September 30, 2020. (2) Interest at LIBOR plus applicable margin of 1.625% as of December 31, 2019. (3) Interest at one month LIBOR index plus 80 basis points. (4) Finance lease obligations are a non-cash financing activity. Refer to Note 6, "Leases".
Fair value of financial instruments	The fair values of these material financial instruments are as follows: Fair Value (in millions) September 30, 2020 December 31, 2019 2023 Senior Notes $ 457.6 $ 464.2 2026 Senior Notes 623.9 634.9

Leases (Tables)

Leases (Tables)	9 Months Ended
Leases (Tables)	Sep. 30, 2020
Leases [Abstract]
Schedule of Assets and Liabilities	The following table summarizes the classification of operating and finance lease assets and obligations in the Company's Condensed Consolidated Balance Sheet as of September 30, 2020 and December 31, 2019: (in millions) September 30, 2020 December 31, 2019 Assets Operating lease assets Operating lease right-of-use assets $ 305.6 $ 245.4 Finance lease assets Property, plant and equipment, net 63.0 54.4 Total leased assets $ 368.6 $ 299.8 Liabilities Short-term: Operating lease obligations Accrued expenses and other current liabilities $ 59.6 $ 50.8 Finance lease obligations Current portion of long-term debt 11.0 8.2 Long-term: Operating lease obligations Long-term operating lease obligations 275.3 205.4 Finance lease obligations Long-term debt, net 62.1 55.9 Total lease obligations $ 408.0 $ 320.3
Schedule of Lease Expense	The following table summarizes the classification of lease expense in the Company's Condensed Consolidated Statements of Income for the three and nine months ended September 30, 2020 and 2019: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2020 2019 2020 2019 Operating lease expense: Operating lease expense $ 19.1 $ 16.3 $ 55.8 $ 46.4 Short-term lease expense 2.6 2.9 8.3 5.2 Variable lease expense 6.0 4.8 15.7 13.6 Finance lease expense: Amortization of right-of-use assets 2.5 2.1 6.9 6.3 Interest on lease obligations 1.2 1.2 3.5 3.6 Total lease expense $ 31.4 $ 27.3 $ 90.2 $ 75.1 The following table provides supplemental information related to the Company's Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2020 and 2019: Nine Months Ended (in millions) September 30, 2020 September 30, 2019 Cash paid for amounts included in the measurement of lease obligations: Operating cash flows paid for operating leases $ 51.0 $ 42.5 Operating cash flows paid for finance leases $ 3.6 $ 3.6 Financing cash flows paid for finance leases $ 7.5 $ 5.9 Right-of-use assets obtained in exchange for new operating lease obligations $ 95.1 $ 66.1 Right-of-use assets obtained in exchange for new finance lease obligations $ 16.5 $ 2.5
Maturity of Operating Leases	The following table sets forth the scheduled maturities of lease obligations as of September 30, 2020: (in millions) Operating Leases Finance Leases Total Year Ended December 31, 2020 (excluding the nine months ended September 30, 2020) $ 18.9 $ 3.8 $ 22.7 2021 72.1 15.1 87.2 2022 64.8 13.1 77.9 2023 52.5 10.4 62.9 2024 44.0 8.5 52.5 Thereafter 142.8 41.6 184.4 Total lease payments 395.1 92.5 487.6 Less: Interest 60.2 19.4 79.6 Present value of lease obligations $ 334.9 $ 73.1 $ 408.0
Maturity of Finance Leases	The following table sets forth the scheduled maturities of lease obligations as of September 30, 2020: (in millions) Operating Leases Finance Leases Total Year Ended December 31, 2020 (excluding the nine months ended September 30, 2020) $ 18.9 $ 3.8 $ 22.7 2021 72.1 15.1 87.2 2022 64.8 13.1 77.9 2023 52.5 10.4 62.9 2024 44.0 8.5 52.5 Thereafter 142.8 41.6 184.4 Total lease payments 395.1 92.5 487.6 Less: Interest 60.2 19.4 79.6 Present value of lease obligations $ 334.9 $ 73.1 $ 408.0
Lease Term and Discount Rate	The following table provides lease term and discount rate information related to operating and finance leases as of September 30, 2020: September 30, 2020 Weighted average remaining lease term (years): Operating leases 6.69 Finance leases 8.09 Weighted average discount rate: Operating leases 4.95 % Finance leases 5.84 %

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
Stockholders' Equity (Tables)	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Changes in accumulated other comprehensive loss	AOCL consisted of the following: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2020 2019 2020 2019 Foreign Currency Translation Balance at beginning of period $ (94.5) $ (84.7) $ (82.2) $ (91.7) Other comprehensive loss: Foreign currency translation adjustments (1) 12.1 (6.7) (0.2) 0.3 Balance at end of period $ (82.4) $ (91.4) $ (82.4) $ (91.4) Pensions Balance at beginning of period $ (5.5) $ (3.6) $ (5.5) $ (3.6) Other comprehensive loss: Net change from period revaluations — — 0.1 — Tax expense (2) — — (0.1) — Total other comprehensive income before reclassifications, net of tax $ — $ — $ — $ — Net amount reclassified to earnings (1) — — — — Tax benefit (2) — — — — Total amount reclassified from accumulated other comprehensive loss, net of tax $ — $ — $ — $ — Total other comprehensive loss — — — — Balance at end of period $ (5.5) $ (3.6) $ (5.5) $ (3.6) (1) In 2020 and 2019, there were no tax impacts related to foreign currency translation adjustments and no amounts were reclassified to earnings. (2) These amounts were included in the income tax provision in the accompanying Condensed Consolidated Statements of Income.

Other Items (Tables)

Other Items (Tables)	9 Months Ended
Other Items (Tables)	Sep. 30, 2020
Accrued Liabilities and Other Liabilities [Abstract]
Schedule of Accrued Expenses and Other Current Liabilities	Accrued expenses and other current liabilities consisted of the following: (in millions) September 30, 2020 December 31, 2019 Taxes $ 146.5 $ 136.0 Wages and benefits 97.0 79.5 Advertising 94.6 56.9 Operating lease obligations 59.6 50.8 Other 203.7 150.0 $ 601.4 $ 473.2

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
Stock-Based Compensation (Tables)	Sep. 30, 2020
Share-based Payment Arrangement [Abstract]
Schedule of stock-based compensation expense	A summary of the Company’s stock-based compensation expense is presented in the following table: Three Months Ended September 30, Nine Months Ended September 30, (in millions) 2020 2019 2020 2019 PRSU expense $ 65.0 $ 0.3 $ 66.2 $ 1.0 Option expense 1.3 1.3 3.7 3.7 RSU/DSU expense 5.5 5.2 16.7 15.3 Total stock-based compensation expense $ 71.8 $ 6.8 $ 86.6 $ 20.0

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
Income Taxes (Tables)	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Schedule of Balance Sheet Location	The liability at September 30, 2020 and December 31, 2019 is included within the Company’s Condensed Consolidated Balance Sheet (translated at the exchange rate on September 30, 2020 and December 31, 2019) as per below: September 30, 2020 December 31, 2019 DKK USD DKK USD Accrued expenses and other current liabilities 847.3 $ 133.5 847.3 $ 127.2 Other non-current liabilities 279.0 43.9 263.3 39.5 Total 1,126.3 $ 177.4 1,110.6 $ 166.7 The deposit at September 30, 2020 and December 31, 2019 is included within the Company’s Condensed Consolidated Balance Sheet (translated at the exchange rates on September 30, 2020 and December 31, 2019) as per below: September 30, 2020 December 31, 2019 DKK USD DKK USD Prepaid expenses and other current assets 847.3 $ 133.5 847.3 $ 127.2 Other non-current assets 333.6 52.5 122.8 18.4 Total 1,180.9 $ 186.0 970.1 $ 145.6

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	9 Months Ended
Earnings Per Common Share (Tables)	Sep. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Common Share	The following table sets forth the components of the numerator and denominator for the computation of basic and diluted earnings per share for net income attributable to Tempur Sealy International. Three Months Ended Nine Months Ended September 30, September 30, (in millions, except per common share amounts) 2020 2019 2020 2019 Numerator: Income from continuing operations, net of income attributable to non-controlling interests $ 119.0 $ 72.5 $ 202.8 $ 144.1 Denominator: Denominator for basic earnings per common share-weighted average shares 51.6 54.6 52.2 54.7 Effect of dilutive securities: Employee stock-based compensation 1.3 1.2 0.7 1.3 Denominator for diluted earnings per common share-adjusted weighted average shares 52.9 55.8 52.9 56.0 Basic earnings per common share for continuing operations $ 2.31 $ 1.33 $ 3.89 $ 2.63 Diluted earnings per common share for continuing operations $ 2.25 $ 1.30 $ 3.83 $ 2.57

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
Business Segment Information (Tables)	Sep. 30, 2020
Segment Reporting [Abstract]
Total assets and long-lived assets by segment	The following table summarizes total assets by segment: (in millions) September 30, 2020 December 31, 2019 North America $ 3,595.8 $ 3,142.9 International 647.6 615.3 Corporate 582.8 477.1 Inter-segment eliminations (1,370.8) (1,173.5) Total assets $ 3,455.4 $ 3,061.8 The following table summarizes property, plant and equipment, net, by segment: (in millions) September 30, 2020 December 31, 2019 North America $ 390.2 $ 328.9 International 52.3 51.8 Corporate 43.3 55.1 Total property, plant and equipment, net $ 485.8 $ 435.8 The following table summarizes operating lease right-of-use assets by segment: (in millions) September 30, 2020 December 31, 2019 North America $ 261.5 $ 202.0 International 41.9 42.2 Corporate 2.2 1.2 Total operating lease right-of-use assets $ 305.6 $ 245.4
Segment financial information	The following table summarizes segment information for the three months ended September 30, 2020: (in millions) North America International Corporate Eliminations Consolidated Net sales $ 976.5 $ 155.8 $ — $ — $ 1,132.3 Inter-segment sales $ 0.2 $ 0.3 $ — $ (0.5) $ — Inter-segment royalty expense (income) 2.5 (2.5) — — — Gross profit 438.6 91.6 — — 530.2 Operating income (loss) 231.5 44.8 (96.1) — 180.2 Income (loss) from continuing operations before income taxes 229.9 44.1 (114.3) — 159.7 Depreciation and amortization (1) $ 19.6 $ 3.6 $ 73.6 $ — $ 96.8 Capital expenditures 20.2 2.0 2.0 — 24.2 (1) Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the three months ended September 30, 2019: (in millions) North America International Corporate Eliminations Consolidated Net sales $ 682.0 $ 139.0 $ — $ — $ 821.0 Inter-segment sales $ 0.6 $ — $ — $ (0.6) $ — Inter-segment royalty expense (income) 1.2 (1.2) — — — Gross profit 286.8 73.8 — — 360.6 Operating income (loss) 119.8 27.3 (26.5) — 120.6 Income (loss) from continuing operations before income taxes 117.8 24.0 (43.3) — 98.5 Depreciation and amortization (1) $ 17.1 $ 3.4 $ 9.5 $ — $ 30.0 Capital expenditures 15.0 2.0 5.0 — 22.0 (1) Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the nine months ended September 30, 2020: (in millions) North America International Corporate Eliminations Consolidated Net sales $ 2,224.2 $ 395.7 $ — $ — $ 2,619.9 Inter-segment sales $ 1.1 $ 0.4 $ — $ (1.5) $ — Inter-segment royalty expense (income) 4.6 (4.6) — — — Gross profit 932.0 221.2 — — 1,153.2 Operating income (loss) 402.3 81.0 (144.4) — 338.9 Income (loss) from continuing operations before income taxes 397.5 76.2 (197.0) — 276.7 Depreciation and amortization (1) $ 55.8 $ 10.3 $ 93.0 $ — $ 159.1 Capital expenditures 59.6 7.5 6.5 — 73.6 (1) Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the nine months ended September 30, 2019: (in millions) North America International Corporate Eliminations Consolidated Net sales $ 1,814.1 $ 420.6 $ — $ — $ 2,234.7 Inter-segment sales $ 2.5 $ 0.4 $ — $ (2.9) $ — Inter-segment royalty expense (income) 3.2 (3.2) — — — Gross profit 731.2 224.6 — — 955.8 Operating income (loss) 264.2 79.9 (82.0) — 262.1 Income (loss) from continuing operations before income taxes 258.8 77.0 (132.9) — 202.9 Depreciation and amortization (1) $ 47.7 $ 10.2 $ 28.8 $ — $ 86.7 Capital expenditures 42.3 8.0 11.6 — 61.9 (1) Depreciation and amortization includes stock-based compensation amortization expense.
Long-lived assets by geographic region	The following table summarizes property, plant and equipment, net by geographic region: (in millions) September 30, 2020 December 31, 2019 United States $ 418.0 $ 366.4 Canada 15.5 17.5 Other International 52.3 51.9 Total property, plant and equipment, net $ 485.8 $ 435.8 Total International $ 67.8 $ 69.4 The following table summarizes operating lease right-of-use assets by geographic region: (in millions) September 30, 2020 December 31, 2019 United States $ 260.0 $ 198.3 Canada 3.7 4.9 Other International 41.9 42.2 Total operating lease right-of-use assets $ 305.6 $ 245.4 Total International $ 45.6 $ 47.1
Net sales by geographic region	The following table summarizes net sales by geographic region: Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2020 2019 2020 2019 United States $ 904.3 $ 621.4 $ 2,078.8 $ 1,652.3 Canada 72.2 60.6 145.4 161.8 Other International 155.8 139.0 395.7 420.6 Total net sales $ 1,132.3 $ 821.0 $ 2,619.9 $ 2,234.7 Total International $ 228.0 $ 199.6 $ 541.1 $ 582.4

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2020USD ($)channel	Dec. 31, 2019USD ($)	Oct. 31, 2020	Jun. 30, 2020USD ($)	Jan. 01, 2020USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Number of products sales channels \| channel	2
Ownership percentage	50.00%
Net investment	$ 16	$ 22.5
Total Stockholders' Equity	$ (447.3)	$ (360.4)		$ (241)		$ (336.5)	$ (305.9)	$ (217.5)
Warranty Term [Abstract]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member	us-gaap:AccountingStandardsUpdate201613Member
Subsequent Event \| Sealy and Stems & Foster
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Ownership percentage			50.00%
Cumulative Effect, Period Of Adoption, Adjustment
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Total Stockholders' Equity		$ 6.5
Retained Earnings
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Total Stockholders' Equity	$ (1,900.9)	(1,703.3)		$ (1,779.5)		$ (1,657.1)	$ (1,583.8)	$ (1,513.8)
Retained Earnings \| Cumulative Effect, Period Of Adoption, Adjustment
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Total Stockholders' Equity		6.5			$ 6.5
Accrued expenses and other current liabilities
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Accrued sales returns	29	26.2
Warranty Term [Abstract]
Accrued warranty expense	18.8	19.4
Other noncurrent liabilities
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Accrued sales returns	13.1	13.1
Warranty Term [Abstract]
Accrued warranty expense	$ 23	$ 22.2
Mattresses \| Non-prorated \| International
Warranty Term [Abstract]
Warranty term (in years)	5 years
Mattresses \| Prorated \| International
Warranty Term [Abstract]
Warranty term (in years)	10 years
Mattresses \| Minimum \| North America
Warranty Term [Abstract]
Warranty term (in years)	10 years
Mattresses \| Minimum \| International
Warranty Term [Abstract]
Warranty term (in years)	5 years
Mattresses \| Minimum \| Non-prorated \| North America
Warranty Term [Abstract]
Warranty term (in years)	10 years
Mattresses \| Maximum \| North America
Warranty Term [Abstract]
Warranty term (in years)	25 years
Mattresses \| Maximum \| International
Warranty Term [Abstract]
Warranty term (in years)	15 years
Mattresses \| Maximum \| Non-prorated \| North America
Warranty Term [Abstract]
Warranty term (in years)	15 years
Pillows \| North America
Warranty Term [Abstract]
Warranty term (in years)	3 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule Of Inventory, Current (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Finished goods	$ 139.4	$ 157.4
Work-in-process	12.1	10.8
Raw materials and supplies	124.1	92.3
Total	$ 275.6	$ 260.5

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Changes In Accrued Sales Returns (Details) - Sales Returns $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Changes in Accrued Sales Returns [Roll Forward]
Beginning balance	$ 39.3
Amounts accrued	81.6
Returns charged to accrual	(78.8)
Ending balance	$ 42.1

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Warranty Activity (Details) - Warranty Reserves $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 41.6
Amounts accrued	15.9
Warranties charged to accrual	(15.7)
Ending balance	$ 41.8

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Schedule of Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member		us-gaap:AccountingStandardsUpdate201613Member
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 71.9
Amounts accrued	32.8	$ 7.3
Write-offs charged against the allowance	(17)
Ending Balance	96.6		$ 71.9
Cumulative Effect, Period Of Adoption, Adjustment
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 8.9
Ending Balance			$ 8.9

Net Sales - Sales (Details)

Net Sales - Sales (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Net Sales - Sales (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Net sales	$ 1,132.3	$ 821	$ 2,619.9	$ 2,234.7
Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	1,132.3	821	2,619.9	2,234.7
Operating Segments \| United States
Disaggregation of Revenue [Line Items]
Net sales	904.3	621.4	2,078.8	1,652.3
Operating Segments \| Canada
Disaggregation of Revenue [Line Items]
Net sales	72.2	60.6	145.4	161.8
Operating Segments \| International
Disaggregation of Revenue [Line Items]
Net sales	155.8	139	395.7	420.6
Operating Segments \| Bedding
Disaggregation of Revenue [Line Items]
Net sales	1,036.6	752.2	2,399.7	2,044.6
Operating Segments \| Other
Disaggregation of Revenue [Line Items]
Net sales	95.7	68.8	220.2	190.1
Operating Segments \| Wholesale
Disaggregation of Revenue [Line Items]
Net sales	987.2	710.1	2,273.3	1,958.2
Operating Segments \| Direct
Disaggregation of Revenue [Line Items]
Net sales	145.1	110.9	346.6	276.5
Operating Segments \| North America
Disaggregation of Revenue [Line Items]
Net sales	976.5	682	2,224.2	1,814.1
Operating Segments \| North America \| United States
Disaggregation of Revenue [Line Items]
Net sales	904.3	621.4	2,078.8	1,652.3
Operating Segments \| North America \| Canada
Disaggregation of Revenue [Line Items]
Net sales	72.2	60.6	145.4	161.8
Operating Segments \| North America \| International
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Operating Segments \| North America \| Bedding
Disaggregation of Revenue [Line Items]
Net sales	913	640.6	2,086.3	1,709.2
Operating Segments \| North America \| Other
Disaggregation of Revenue [Line Items]
Net sales	63.5	41.4	137.9	104.9
Operating Segments \| North America \| Wholesale
Disaggregation of Revenue [Line Items]
Net sales	869.1	602.2	1,973.3	1,632.5
Operating Segments \| North America \| Direct
Disaggregation of Revenue [Line Items]
Net sales	107.4	79.8	250.9	181.6
Operating Segments \| International
Disaggregation of Revenue [Line Items]
Net sales	155.8	139	395.7	420.6
Operating Segments \| International \| United States
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Operating Segments \| International \| Canada
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Operating Segments \| International \| International
Disaggregation of Revenue [Line Items]
Net sales	155.8	139	395.7	420.6
Operating Segments \| International \| Bedding
Disaggregation of Revenue [Line Items]
Net sales	123.6	111.6	313.4	335.4
Operating Segments \| International \| Other
Disaggregation of Revenue [Line Items]
Net sales	32.2	27.4	82.3	85.2
Operating Segments \| International \| Wholesale
Disaggregation of Revenue [Line Items]
Net sales	118.1	107.9	300	325.7
Operating Segments \| International \| Direct
Disaggregation of Revenue [Line Items]
Net sales	$ 37.7	$ 31.1	$ 95.7	$ 94.9

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) - Sherwood Bedding $ in Millions	Jan. 31, 2020USD ($)
Business Acquisition [Line Items]
Percentage of voting interests acquired	80.00%
Consideration transferred	$ 39.1
Cash and equivalents	$ 1.2

Acquisitions (Price Purchase Al

Acquisitions (Price Purchase Allocation) (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jan. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill	$ 761.1		$ 732.3
Sherwood Bedding
Business Acquisition [Line Items]
Working capital (accounts receivable and inventory, net of accounts payable and accrued liabilities)		$ 5.8
Property and equipment		10.1
Goodwill		26.7
Operating lease right-of-use assets		19.9
Operating lease liabilities		(19.9)
Non-controlling interest		(8.4)
Purchase price, net of cash acquired		37.9
Sherwood Bedding \| Customer Relationships
Business Acquisition [Line Items]
Customer relationships intangible assets		$ 3.7

Goodwill (Details)

Goodwill (Details) $ in Millions	9 Months Ended
Goodwill (Details) $ in Millions	Sep. 30, 2020USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 732.3
Goodwill resulting from acquisitions	26.7
Foreign currency translation and other	2.1
Ending balance	761.1
North America
Goodwill [Roll Forward]
Beginning balance	576.6
Goodwill resulting from acquisitions	26.7
Foreign currency translation and other	(1.6)
Ending balance	601.7
International
Goodwill [Roll Forward]
Beginning balance	155.7
Goodwill resulting from acquisitions	0
Foreign currency translation and other	3.7
Ending balance	$ 159.4

Debt (Details)

Debt (Details) - USD ($)	Oct. 08, 2020	Sep. 30, 2020	Dec. 31, 2019	May 13, 2020	Oct. 16, 2019
Long-term Debt, by Current and Noncurrent [Abstract]
Finance lease obligations		$ 73,100,000
Other		3,100,000	$ 7,900,000
Total debt		1,535,300,000	1,547,000,000
Less: Deferred financing costs		5,300,000	7,000,000
Total debt, net		1,530,000,000	1,540,000,000
Less: Current portion		35,400,000	37,400,000
Total long-term debt, net		1,494,600,000	1,502,600,000
2026 Senior Notes
Long-term Debt, by Current and Noncurrent [Abstract]
Senior notes		$ 600,000,000	$ 600,000,000
Stated percentage		5.50%	5.50%
2026 Senior Notes \| Fair Value, Inputs, Level 2
Long-term Debt, by Current and Noncurrent [Abstract]
Notes, fair value		$ 623,900,000	$ 634,900,000
2023 Senior Notes
Long-term Debt, by Current and Noncurrent [Abstract]
Senior notes		$ 450,000,000	$ 450,000,000
Stated percentage		5.625%	5.625%
2023 Senior Notes \| Subsequent Event
Long-term Debt, by Current and Noncurrent [Abstract]
Early repayment of senior debt	$ 200,000,000
Redemption price percentage	101.406%
2023 Senior Notes \| Fair Value, Inputs, Level 2
Long-term Debt, by Current and Noncurrent [Abstract]
Notes, fair value		$ 457,600,000	$ 464,200,000
Securitized debt
Long-term Debt, by Current and Noncurrent [Abstract]
Securitized debt		$ 0	$ 0
Securitized debt \| London Interbank Offered Rate (LIBOR)
Long-term Debt, by Current and Noncurrent [Abstract]
Index rate or LIBOR plus (as a percent)		0.80%	0.80%
Financing and capital lease obligations
Long-term Debt, by Current and Noncurrent [Abstract]
Finance lease obligations		$ 73,100,000	$ 64,100,000
2019 Credit Agreement \| Line of Credit
Long-term Debt, by Current and Noncurrent [Abstract]
Remaining borrowing capacity		424,900,000
2019 Credit Agreement \| Line of Credit \| Revolving Credit Facility
Long-term Debt, by Current and Noncurrent [Abstract]
Line of credit borrowing					$ 425,000,000
2019 Credit Agreement \| Line of Credit \| Term Loan Facility
Long-term Debt, by Current and Noncurrent [Abstract]
Line of credit borrowing				$ 200,000,000	425,000,000
2019 Credit Agreement \| Line of Credit \| Incremental Facility
Long-term Debt, by Current and Noncurrent [Abstract]
Line of credit borrowing					550,000,000
2019 Credit Agreement \| Line of Credit \| Letter of Credit
Long-term Debt, by Current and Noncurrent [Abstract]
Line of credit borrowing					$ 60,000,000
Proceeds from lines of credit		100,000
2019 Credit Agreement \| Term A Facility
Long-term Debt, by Current and Noncurrent [Abstract]
Line of credit		$ 409,100,000	425,000,000
2019 Credit Agreement \| Term A Facility \| London Interbank Offered Rate (LIBOR)
Long-term Debt, by Current and Noncurrent [Abstract]
Index rate or LIBOR plus (as a percent)		1.25%
2019 Credit Agreement \| Revolver
Long-term Debt, by Current and Noncurrent [Abstract]
Line of credit		$ 0	$ 0
2019 Credit Agreement \| Revolver \| London Interbank Offered Rate (LIBOR)
Long-term Debt, by Current and Noncurrent [Abstract]
Index rate or LIBOR plus (as a percent)			1.625%
Accounts Receivable Securitization \| Securitized debt
Long-term Debt, by Current and Noncurrent [Abstract]
Debt availability		$ 83,600,000

Leases - Balance Sheet Effect (

Leases - Balance Sheet Effect (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease right-of-use assets	$ 305.6	$ 245.4
Finance lease assets	63	54.4
Total leased assets	368.6	299.8
Operating lease obligations	59.6	50.8
Finance lease obligations	11	8.2
Long-term operating lease obligations	275.3	205.4
Finance lease obligations	62.1	55.9
Present value of lease obligations	$ 408	$ 320.3
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization	us-gaap:PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent	us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:DebtCurrent	us-gaap:DebtCurrent
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:LongTermDebtAndCapitalLeaseObligations	us-gaap:LongTermDebtAndCapitalLeaseObligations

Leases - Expense (Details)

Leases - Expense (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Leases - Expense (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Operating lease expense	$ 19.1	$ 16.3	$ 55.8	$ 46.4
Short-term lease expense	2.6	2.9	8.3	5.2
Variable lease expense	6	4.8	15.7	13.6
Finance lease expense:
Amortization of right-of-use assets	2.5	2.1	6.9	6.3
Interest on lease obligations	1.2	1.2	3.5	3.6
Total lease expense	$ 31.4	$ 27.3	$ 90.2	$ 75.1

Leases - Maturity (Details)

Leases - Maturity (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Operating Leases
2020 (excluding the nine months ended September 30, 2020)	$ 18.9
2021	72.1
2022	64.8
2023	52.5
2024	44
Thereafter	142.8
Future minimum lease payments	395.1
Less: Interest	60.2
Present value of lease obligations	334.9
Finance Leases
2020 (excluding the nine months ended September 30, 2020)	3.8
2021	15.1
2022	13.1
2023	10.4
2024	8.5
Thereafter	41.6
Total lease payments	92.5
Less: Interest	19.4
Present value of lease obligations	73.1
2020 (excluding the nine months ended September 30, 2020)	22.7
2021	87.2
2022	77.9
2023	62.9
2024	52.5
Thereafter	184.4
Total lease payments	487.6
Less: Interest	79.6
Present value of lease obligations	$ 408	$ 320.3

Leases - Long Term and Discount

Leases - Long Term and Discount Rate (Details)	Sep. 30, 2020
Weighted average remaining lease term (years):
Operating leases	6 years 8 months 8 days
Finance leases	8 years 1 month 2 days
Weighted average discount rate:
Operating leases	4.95%
Finance leases	5.84%

Leases - Other Information (Det

Leases - Other Information (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash paid for amounts included in the measurement of lease obligations:
Operating cash flows paid for operating leases	$ 51	$ 42.5
Operating cash flows paid for finance leases	3.6	3.6
Financing cash flows paid for finance leases	7.5	5.9
Right-of-use assets obtained in exchange for new operating lease obligations	95.1	66.1
Right-of-use assets obtained in exchange for new finance lease obligations	$ 16.5	$ 2.5

Stockholders' Equity (Details)

Stockholders' Equity (Details)	Nov. 10, 2020shares	Oct. 28, 2020	Sep. 30, 2020USD ($)$ / shares	Sep. 30, 2019USD ($)shares	Sep. 30, 2020USD ($)$ / sharesshares	Sep. 30, 2019USD ($)shares	Oct. 31, 2020USD ($)	Mar. 27, 2020right$ / sharesshares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Treasury stock, acquired (in shares) \| shares				700,000	2,600,000	700,000
Payments for repurchase of common stock				$ 50,000,000	$ 187,500,000	$ 52,300,000
Value of treasury stock acquired				50,000,000	$ 187,500,000	52,300,000
Number of rights authorized and declared per common share \| right								1
Preferred stock par or stated value (in dollars per share) \| $ / shares			$ 0.01		$ 0.01
Number of securities per each right \| shares								0.001
Exercise price (in dollars per share) \| $ / shares								$ 0.273
Subsequent Event
Accumulated Other Comprehensive Income (Loss) [Line Items]
Increase (decrease) in authorization amount							$ 168,700,000
Authorized amount of stock to be repurchased							$ 300,000,000
Stock split ratio		4
Number of additional shares received per share owned (in shares) \| shares	3
Performance-based Restricted Stock Units
Accumulated Other Comprehensive Income (Loss) [Line Items]
Value of treasury stock acquired			$ 100,000	$ 0	$ 12,100,000	$ 3,200,000
February 2016 Program
Accumulated Other Comprehensive Income (Loss) [Line Items]
Remaining shares under share repurchase authorization			$ 131,300,000		$ 131,300,000

Stockholders' Equity - AOCL (De

Stockholders' Equity - AOCL (Details) - USD ($)	3 Months Ended		9 Months Ended
Stockholders' Equity - AOCL (Details) - USD ($)	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 241,000,000	$ 305,900,000	$ 360,400,000	$ 217,500,000
Foreign currency translation adjustments	12,100,000	(6,700,000)	(200,000)	300,000
Total other comprehensive loss	0	0	0	0
Balance at end of period	447,300,000	336,500,000	447,300,000	336,500,000
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(94,500,000)	(84,700,000)	(82,200,000)	(91,700,000)
Tax expense			0	0
Net amount reclassified to earnings			0	0
Balance at end of period	(82,400,000)	(91,400,000)	(82,400,000)	(91,400,000)
Pensions
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(5,500,000)	(3,600,000)	(5,500,000)	(3,600,000)
Net change from period revaluations	0	0	100,000	0
Tax expense	0	0	(100,000)	0
Total other comprehensive gain (loss) before reclassifications, net of tax	0	0	0	0
Net amount reclassified to earnings	0	0	0	0
Tax benefit	0	0	0	0
Total amount reclassified from accumulated other comprehensive loss, net of tax	0	0	0	0
Balance at end of period	$ (5,500,000)	$ (3,600,000)	$ (5,500,000)	$ (3,600,000)

Other Items (Details)

Other Items (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Accrued Liabilities and Other Liabilities [Abstract]
Taxes	$ 146.5	$ 136
Wages and benefits	97	79.5
Advertising	94.6	56.9
Operating lease obligations	59.6	50.8
Other	203.7	150
Total accrued liabilities	$ 601.4	$ 473.2

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Stock-Based Compensation (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 71.8	$ 6.8	$ 86.6	$ 20
Performance-based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	65	0.3	$ 66.2	1
Performance-based Restricted Stock Units \| 2019 Aspirational Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	45.2
Performance-based Restricted Stock Units \| 2019 Aspirational Plan \| 2018 Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of target shares forfeited			50.00%
Award vesting percentage			50.00%
Performance-based Restricted Stock Units \| 2019 Aspirational Plan \| 2018 Target \| Adjust EBITDA per Credit Facility is $600 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			66.00%
Performance-based Restricted Stock Units \| 2019 Aspirational Plan \| 2018 Target \| Adjusted EBITDA per Credit Facility is less than $600.0 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum adjusted EBITDA per credit facility	600		$ 600
Performance-based Restricted Stock Units \| 2019 Aspirational Plan \| 2017 Target \| Adjust EBITDA per Credit Facility is $600 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum adjusted EBITDA per credit facility	600		600
Performance-based Restricted Stock Units \| 2019 Aspirational Plan \| 2017 Target \| Adjusted EBITDA per Credit Facility equals or exceeds $650 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum adjusted EBITDA per credit facility	650		$ 650
Award vesting percentage			100.00%
Performance-based Restricted Stock Units \| 2019 Aspirational Plan \| First Designated Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized stock-based compensation expense	4.2		$ 4.2
Option expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1.3	1.3	3.7	3.7
RSU/DSU expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	5.5	$ 5.2	16.7	$ 15.3
Minimum \| Performance-based Restricted Stock Units \| 2019 Aspirational Plan \| 2018 Target \| Adjusted EBITDA per Credit Facility is between $600.0 million and $650.0 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum adjusted EBITDA per credit facility	600		600
Maximum \| Performance-based Restricted Stock Units \| 2019 Aspirational Plan \| 2017 Target \| Adjusted EBITDA per Credit Facility is between $600.0 million and $650.0 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum adjusted EBITDA per credit facility	$ 650		$ 650

Income Taxes (Details)

Income Taxes (Details) kr in Millions, $ in Millions	3 Months Ended			9 Months Ended			12 Months Ended
Income Taxes (Details) kr in Millions, $ in Millions	Sep. 30, 2020DKK (kr)	Mar. 31, 2020DKK (kr)	Sep. 30, 2019	Sep. 30, 2020DKK (kr)	Sep. 30, 2020USD ($)	Sep. 30, 2019	Dec. 31, 2019DKK (kr)	Dec. 31, 2019USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Income Tax Examination [Line Items]
Effective income tax provision (as a percent)	25.20%		26.50%	26.50%	26.50%	29.00%
Danish Tax Authority (SKAT) \| Foreign Tax Authority \| Tax Years Post 2011
Income Tax Examination [Line Items]
Income tax liability				kr 1,126.3	$ 177.4		kr 1,110.6	$ 166.7
Tax deposit	kr 1,180.9			kr 1,180.9			kr 970.1		$ 186	$ 145.6
Danish Tax Authority (SKAT) \| Foreign Tax Authority \| Tax Years 2012-2013
Income Tax Examination [Line Items]
Income tax liability	kr 76.8	kr 134

Income Taxes - Balance Sheet Lo

Income Taxes - Balance Sheet Location (Details) - Foreign Tax Authority - Danish Tax Authority (SKAT) - Tax Years Post 2011 kr in Millions, $ in Millions	9 Months Ended		12 Months Ended
	Sep. 30, 2020DKK (kr)	Sep. 30, 2020USD ($)	Dec. 31, 2019DKK (kr)	Dec. 31, 2019USD ($)	Sep. 30, 2020USD ($)	Dec. 31, 2019USD ($)
Income Tax Examination [Line Items]
Income tax liability	kr 1,126.3	$ 177.4	kr 1,110.6	$ 166.7
Tax deposit	1,180.9		970.1		$ 186	$ 145.6
Accrued expenses and other current liabilities
Income Tax Examination [Line Items]
Income tax liability	847.3	133.5	847.3	127.2
Tax deposit	847.3		847.3		133.5	127.2
Other noncurrent liabilities
Income Tax Examination [Line Items]
Income tax liability	279	$ 43.9	263.3	$ 39.5
Other non-current assets
Income Tax Examination [Line Items]
Tax deposit	kr 333.6		kr 122.8		$ 52.5	$ 18.4

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Numerator:
Income from continuing operations, net of income attributable to non-controlling interests	$ 119	$ 72.5	$ 202.8	$ 144.1
Denominator:
Denominator for basic earnings per common share-weighted average shares (in shares)	51,600,000	54,600,000	52,200,000	54,700,000
Effect of dilutive securities:
Employee stock-based compensation (in shares)	1,300,000	1,200,000	700,000	1,300,000
Denominator for diluted earnings per common share-adjusted weighted average shares (in shares)	52,900,000	55,800,000	52,900,000	56,000,000
Basic earnings per share for continuing operations (in dollars per share)	$ 2.31	$ 1.33	$ 3.89	$ 2.63
Diluted earnings per share for continuing operations (in dollars per share)	$ 2.25	$ 1.30	$ 3.83	$ 2.57
Shares excluded from diluted earnings per common share computation as anti-dilutive (in shares)		0	500,000	1,100,000

Business Segment Information (D

Business Segment Information (Details) $ in Millions	3 Months Ended		9 Months Ended
Business Segment Information (Details) $ in Millions	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)segment	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Segment Reporting [Abstract]
Number of business segments \| segment			2
Segment Reporting Information [Line Items]
Total assets	$ 3,455.4		$ 3,455.4		$ 3,061.8
Total property, plant and equipment, net	485.8		485.8		435.8
Operating lease right-of-use assets	305.6		305.6		245.4
Net sales	1,132.3	$ 821	2,619.9	$ 2,234.7
Gross profit	530.2	360.6	1,153.2	955.8
Operating income (loss)	180.2	120.6	338.9	262.1
Income (loss) from continuing operations before income taxes	159.7	98.5	276.7	202.9
Depreciation and amortization (including stock-based compensation amortization)	96.8	30	159.1	86.7
Capital expenditures	24.2	22	73.6	61.9
United States
Segment Reporting Information [Line Items]
Total property, plant and equipment, net	418		418		366.4
Operating lease right-of-use assets	260		260		198.3
Canada
Segment Reporting Information [Line Items]
Total property, plant and equipment, net	15.5		15.5		17.5
Operating lease right-of-use assets	3.7		3.7		4.9
Other International
Segment Reporting Information [Line Items]
Total property, plant and equipment, net	52.3		52.3		51.9
Operating lease right-of-use assets	41.9		41.9		42.2
Total International
Segment Reporting Information [Line Items]
Total property, plant and equipment, net	67.8		67.8		69.4
Operating lease right-of-use assets	45.6		45.6		47.1
Net sales	228	199.6	541.1	582.4
Operating Segments
Segment Reporting Information [Line Items]
Total property, plant and equipment, net	485.8		485.8		435.8
Net sales	1,132.3	821	2,619.9	2,234.7
Operating Segments \| United States
Segment Reporting Information [Line Items]
Net sales	904.3	621.4	2,078.8	1,652.3
Operating Segments \| Canada
Segment Reporting Information [Line Items]
Net sales	72.2	60.6	145.4	161.8
Operating Segments \| International
Segment Reporting Information [Line Items]
Net sales	155.8	139	395.7	420.6
Operating Segments \| North America
Segment Reporting Information [Line Items]
Total assets	3,595.8		3,595.8		3,142.9
Total property, plant and equipment, net	390.2		390.2		328.9
Operating lease right-of-use assets	261.5		261.5		202
Net sales	976.5	682	2,224.2	1,814.1
Gross profit	438.6	286.8	932	731.2
Operating income (loss)	231.5	119.8	402.3	264.2
Income (loss) from continuing operations before income taxes	229.9	117.8	397.5	258.8
Depreciation and amortization (including stock-based compensation amortization)	19.6	17.1	55.8	47.7
Capital expenditures	20.2	15	59.6	42.3
Operating Segments \| North America \| United States
Segment Reporting Information [Line Items]
Net sales	904.3	621.4	2,078.8	1,652.3
Operating Segments \| North America \| Canada
Segment Reporting Information [Line Items]
Net sales	72.2	60.6	145.4	161.8
Operating Segments \| North America \| International
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Operating Segments \| International
Segment Reporting Information [Line Items]
Total assets	647.6		647.6		615.3
Total property, plant and equipment, net	52.3		52.3		51.8
Operating lease right-of-use assets	41.9		41.9		42.2
Net sales	155.8	139	395.7	420.6
Gross profit	91.6	73.8	221.2	224.6
Operating income (loss)	44.8	27.3	81	79.9
Income (loss) from continuing operations before income taxes	44.1	24	76.2	77
Depreciation and amortization (including stock-based compensation amortization)	3.6	3.4	10.3	10.2
Capital expenditures	2	2	7.5	8
Operating Segments \| International \| United States
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Operating Segments \| International \| Canada
Segment Reporting Information [Line Items]
Net sales	0	0	0	0
Operating Segments \| International \| International
Segment Reporting Information [Line Items]
Net sales	155.8	139	395.7	420.6
Corporate
Segment Reporting Information [Line Items]
Total assets	582.8		582.8		477.1
Total property, plant and equipment, net	43.3		43.3		55.1
Operating lease right-of-use assets	2.2		2.2		1.2
Operating income (loss)	(96.1)	(26.5)	(144.4)	(82)
Income (loss) from continuing operations before income taxes	(114.3)	(43.3)	(197)	(132.9)
Depreciation and amortization (including stock-based compensation amortization)	73.6	9.5	93	28.8
Capital expenditures	2	5	6.5	11.6
Inter-segment eliminations
Segment Reporting Information [Line Items]
Total assets	(1,370.8)		(1,370.8)		$ (1,173.5)
Net sales	(0.5)	(0.6)	(1.5)	(2.9)
Inter-segment eliminations \| North America
Segment Reporting Information [Line Items]
Net sales	0.2	0.6	1.1	2.5
Inter-segment royalty expense (income)	2.5	1.2	4.6	3.2
Inter-segment eliminations \| International
Segment Reporting Information [Line Items]
Net sales	0.3	0	0.4	0.4
Inter-segment royalty expense (income)	$ (2.5)	$ (1.2)	$ (4.6)	$ (3.2)