Tempur Sealy International (TPX) 10-Q 9 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Aug. 03, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
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		172,156,898
Entity Central Index Key	0001206264
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Net sales	$ 1,269.7	$ 1,211	$ 2,477.8	$ 2,450.5
Cost of sales	727.4	714.5	1,435.6	1,431.2
Gross profit	542.3	496.5	1,042.2	1,019.3
Selling and marketing expenses	270.2	252.9	526.9	496.4
General, administrative and other expenses	117.5	102.3	222	199.9
Equity income in earnings of unconsolidated affiliates	(4.2)	(2.6)	(8.8)	(9.5)
Operating income	158.8	143.9	302.1	332.5
Other expense, net:
Interest expense, net	33.6	23.7	66.4	44.6
Other (income) expense, net	(0.2)	0.7	(0.1)	(0.6)
Total other expense, net	33.4	24.4	66.3	44
Income before income taxes	125.4	119.5	235.8	288.5
Income tax provision	(32.2)	(28.3)	(56.7)	(66.4)
Net income before non-controlling interest	93.2	91.2	179.1	222.1
Less: Net income attributable to non-controlling interest	0.8	0.6	1.4	0.8
Net income attributable to Tempur Sealy International, Inc.	$ 92.4	$ 90.6	$ 177.7	$ 221.3
Earnings per common share:
Basic (in dollars per share)	$ 0.54	$ 0.52	$ 1.03	$ 1.24
Diluted (in dollars per share)	$ 0.52	$ 0.51	$ 1.01	$ 1.20
Weighted average common shares outstanding:
Basic (in shares)	172.1	174.1	172.1	178.3
Diluted (in shares)	176.8	178.8	176.8	183.7

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income before non-controlling interest	$ 93.2	$ 91.2	$ 179.1	$ 222.1
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	17.2	(57.8)	32.1	(75.3)
Other comprehensive income (loss), net of tax	17.2	(57.8)	32.1	(75.3)
Comprehensive income	110.4	33.4	211.2	146.8
Less: Comprehensive income attributable to non-controlling interest	0.8	0.6	1.4	0.8
Comprehensive income attributable to Tempur Sealy International, Inc.	$ 109.6	$ 32.8	$ 209.8	$ 146

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current Assets:
Cash and cash equivalents	$ 101.8	$ 69.4
Accounts receivable, net	476.1	422.6
Inventories	529.3	555
Prepaid expenses and other current assets	146.9	148.2
Total Current Assets	1,254.1	1,195.2
Property, plant and equipment, net	850.9	791.1
Goodwill	1,080.9	1,062.3
Other intangible assets, net	717.6	715.8
Operating lease right-of-use assets	568	506.8
Deferred income taxes	12.7	11.3
Other non-current assets	86.6	77.3
Total Assets	4,570.8	4,359.8
Current Liabilities:
Accounts payable	362.6	359.8
Accrued expenses and other current liabilities	452.8	432.7
Short-term operating lease obligations	114.8	105.5
Current portion of long-term debt	73.6	70.4
Income taxes payable	2.9	12.8
Total Current Liabilities	1,006.7	981.2
Long-term debt, net	2,707.5	2,739.9
Long-term operating lease obligations	507.3	453.5
Deferred income taxes	117.6	114
Other non-current liabilities	84.2	83.5
Total Liabilities	4,423.3	4,372.1
Redeemable non-controlling interest	9.4	9.8
Total Stockholders' Equity (Deficit)	138.1	(22.1)
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity (Deficit)	$ 4,570.8	$ 4,359.8

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Redeemable noncontrolling interest, beginning balance at Dec. 31, 2021	$ 9.2
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income attributable to non-controlling interests	0.8
Dividend paid to non-controlling interest in subsidiary	(1)
Redeemable noncontrolling interest, ending balance at Jun. 30, 2022	9
Balance at beginning of period (in shares) at Dec. 31, 2021		283.8
Balance at beginning of period (in shares) at Dec. 31, 2021			96.4
Balance at beginning of period at Dec. 31, 2021	285.8	$ 2.8	$ (2,844.7)	$ 622	$ 2,604.9	$ (99.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	221.3				221.3
Foreign currency adjustments, net of tax	(75.3)					(75.3)
Exercise of stock options	0.2		$ 0.4	(0.2)
Dividends declared on common stock	(36.7)				(36.7)
Issuances of PRSUs, RSUs, and DSUs (in shares)			(2.6)
Issuances of PRSUs and RSUs	0		$ 75	(75)
Treasury stock repurchased (in shares)			16.6
Treasury stock repurchased	(566.2)		$ (566.2)
Treasury stock repurchased - PRSU/RSU releases (in shares)			1
Treasury stock repurchased - PRSU/RSU releases	(45.8)		$ (45.8)
Amortization of unearned stock-based compensation	26.8			26.8
Balance at end of period (in shares) at Jun. 30, 2022		283.8
Balance at ending of period (in shares) at Jun. 30, 2022			111.4
Balance at end of period at Jun. 30, 2022	(189.9)	$ 2.8	$ (3,381.3)	573.6	2,789.5	(174.5)
Redeemable noncontrolling interest, beginning balance at Mar. 31, 2022	9.4
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income attributable to non-controlling interests	0.6
Dividend paid to non-controlling interest in subsidiary	(1)
Redeemable noncontrolling interest, ending balance at Jun. 30, 2022	9
Balance at beginning of period (in shares) at Mar. 31, 2022		283.8
Balance at beginning of period (in shares) at Mar. 31, 2022			107.1
Balance at beginning of period at Mar. 31, 2022	(100.7)	$ 2.8	$ (3,267.2)	563.6	2,716.8	(116.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	90.6				90.6
Foreign currency adjustments, net of tax	(57.8)					(57.8)
Exercise of stock options	0.1		$ 0.2	(0.1)
Dividends declared on common stock	(17.9)				(17.9)
Issuances of PRSUs, RSUs, and DSUs (in shares)			(0.1)
Issuances of PRSUs and RSUs	0		$ 2.9	(2.9)
Treasury stock repurchased (in shares)			4.4
Treasury stock repurchased	(117)		$ (117)
Treasury stock repurchased - PRSU/RSU releases	(0.2)		$ (0.2)
Amortization of unearned stock-based compensation	13			13
Balance at end of period (in shares) at Jun. 30, 2022		283.8
Balance at ending of period (in shares) at Jun. 30, 2022			111.4
Balance at end of period at Jun. 30, 2022	(189.9)	$ 2.8	$ (3,381.3)	573.6	2,789.5	(174.5)
Redeemable noncontrolling interest, beginning balance at Dec. 31, 2022	9.8
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income attributable to non-controlling interests	1.4
Dividend paid to non-controlling interest in subsidiary	(1.8)
Redeemable noncontrolling interest, ending balance at Jun. 30, 2023	9.4
Balance at beginning of period (in shares) at Dec. 31, 2022		283.8
Balance at beginning of period (in shares) at Dec. 31, 2022			113.4
Balance at beginning of period at Dec. 31, 2022	(22.1)	$ 2.8	$ (3,434.7)	598.2	2,988.5	(176.9)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	177.7				177.7
Foreign currency adjustments, net of tax	32.1					32.1
Exercise of stock options (in shares)			(0.1)
Exercise of stock options	0.8		$ 1.5	(0.7)
Dividends declared on common stock	(38.7)				(38.7)
Issuances of PRSUs, RSUs, and DSUs (in shares)			(2.7)
Issuances of PRSUs and RSUs	0		$ 85	(85)
Treasury stock repurchased (in shares)			0.1
Treasury stock repurchased	(5)		$ (5)
Treasury stock repurchased - PRSU/RSU releases (in shares)			0.9
Treasury stock repurchased - PRSU/RSU releases	(30.9)		$ (30.9)
Amortization of unearned stock-based compensation	24.2			24.2
Balance at end of period (in shares) at Jun. 30, 2023		283.8
Balance at ending of period (in shares) at Jun. 30, 2023			111.6
Balance at end of period at Jun. 30, 2023	138.1	$ 2.8	$ (3,384.1)	536.7	3,127.5	(144.8)
Redeemable noncontrolling interest, beginning balance at Mar. 31, 2023	8.9
Increase (Decrease) in Temporary Equity [Roll Forward]
Net income attributable to non-controlling interests	0.8
Dividend paid to non-controlling interest in subsidiary	(0.3)
Redeemable noncontrolling interest, ending balance at Jun. 30, 2023	9.4
Balance at beginning of period (in shares) at Mar. 31, 2023		283.8
Balance at beginning of period (in shares) at Mar. 31, 2023			111.7
Balance at beginning of period at Mar. 31, 2023	34.7	$ 2.8	$ (3,386.3)	525.7	3,054.5	(162)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	92.4				92.4
Foreign currency adjustments, net of tax	17.2					17.2
Dividends declared on common stock	(19.4)				(19.4)
Issuances of PRSUs, RSUs, and DSUs (in shares)			(0.1)
Issuances of PRSUs and RSUs	0		$ 2.4	(2.4)
Treasury stock repurchased - PRSU/RSU releases	(0.2)		$ (0.2)
Amortization of unearned stock-based compensation	13.4			13.4
Balance at end of period (in shares) at Jun. 30, 2023		283.8
Balance at ending of period (in shares) at Jun. 30, 2023			111.6
Balance at end of period at Jun. 30, 2023	$ 138.1	$ 2.8	$ (3,384.1)	$ 536.7	$ 3,127.5	$ (144.8)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Dividends on common stock (in usd per share)	$ 0.11	$ 0.10	$ 0.22	$ 0.20

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income before non-controlling interest	$ 179.1	$ 222.1
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	66.4	61.3
Amortization of stock-based compensation	24.2	26.9
Amortization of deferred financing costs	1.9	1.9
Bad debt expense	4.2	3.8
Deferred income taxes	0.8	(6.7)
Dividends received from unconsolidated affiliates	3.4	3.9
Equity income in earnings of unconsolidated affiliates	(8.8)	(9.5)
Foreign currency adjustments and other	(1.1)	0.2
Changes in operating assets and liabilities	(19.6)	(237.4)
Net cash provided by operating activities	250.5	66.5
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(112.7)	(130.2)
Other	0.4	1.1
Net cash used in investing activities	(112.3)	(129.1)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings under long-term debt obligations	1,005.7	1,317.9
Repayments of borrowings under long-term debt obligations	(1,033.3)	(771.7)
Proceeds from exercise of stock options	0.8	0.2
Treasury stock repurchased	(35.9)	(612)
Dividends paid	(39.8)	(36.2)
Repayments of finance lease obligations and other	(8.9)	(8.4)
Net cash used in financing activities	(111.4)	(110.2)
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	5.6	(17.6)
Increase (decrease) in cash and cash equivalents	32.4	(190.4)
CASH AND CASH EQUIVALENTS, beginning of period	69.4	300.7
CASH AND CASH EQUIVALENTS, end of period	101.8	110.3
Cash paid during the period for:
Interest	72.1	45.6
Income taxes, net of refunds	$ 52	$ 48

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
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 designs, manufactures and distributes 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 Asia-Pacific joint ventures to develop markets for Sealy® and Stearns & Foster® branded products and ownership in a United Kingdom joint venture to manufacture, market, and distribute Sealy® and Stearns & Foster® branded products. The Company's ownership interests in each of 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 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. 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, 2022, included in the 2022 Annual Report filed with the Securities and Exchange Commission on February 17, 2023. 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 Reference Rate Reform. In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting," which provides guidance on the accounting impacts due to the expected market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate ("SOFR"). The FASB continued to refine its guidance with the January 2021 ASU 2021-01 issued update, "Reference Rate Reform (Topic 848): Scope" and the December 2022 ASU 2022-06 issued update, "Reference Rate Reform ("Topic 848"): Deferral of the Sunset Date of Topic 848", of which all were effective upon issuance. These updates provide entities with certain optional relief expedients and exceptions for applying GAAP to contract modifications, hedge accounting, and other transactions affected by reference rate reform if certain criteria are met. An entity that makes this election would present and account for a modified contract as a continuation of the existing contract. Entities are afforded these relief options until December 31, 2024, after which time they will no longer be permitted. In May 2023, the Company amended its 2019 Credit Agreement to transition the applicable reference rate from LIBOR to SOFR. See "Note 4 - Debt" for additional details. The results of this guidance did not have a material impact on the condensed consolidated financial statements. (c) Inventories . Inventories are stated at the lower of cost or net realizable value, determined by the first-in, first-out method, and consist of the following: June 30, December 31, (in millions) 2023 2022 Finished goods $ 346.4 $ 352.9 Work-in-process 17.5 19.4 Raw materials and supplies 165.4 182.7 $ 529.3 $ 555.0 (d) 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, 2022 to June 30, 2023: (in millions) Balance as of December 31, 2022 $ 41.6 Amounts accrued 11.4 Warranties charged to accrual (9.0) Balance as of June 30, 2023 $ 44.0 As of June 30, 2023 and December 31, 2022, $19.9 million and $17.8 million of accrued warranty expense is included as a component of accrued expenses and other current liabilities and $24.1 million and $23.8 million of accrued warranty expense is included in other non-current liabilities on the Company's accompanying Condensed Consolidated Balance Sheets, respectively. (e) 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 regularly reviews the adequacy of its allowance for credit losses. 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. As of June 30, 2023, the Company's accounts receivable were substantially current. 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. Account balances are charged off against the allowance for credit losses after all reasonable means of collection have been exhausted and the potential for recovery is considered remote. 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, 2022 to June 30, 2023: (in millions) Balance as of December 31, 2022 $ 62.4 Amounts accrued 4.2 Write-offs charged against the allowance (1.2) Balance as of June 30, 2023 $ 65.4 (f) Fair Value. 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 Level 2 inputs, which include 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) June 30, 2023 December 31, 2022 2029 Senior Notes $ 693.6 $ 672.7 2031 Senior Notes $ 651.0 $ 627.1 (g) Definitive Agreement with Mattress Firm. On May 9, 2023, Tempur Sealy International and Mattress Firm entered into a definitive agreement and plan of merger (the "Merger Agreement") for a proposed business acquisition in which Tempur Sealy International, through a wholly-owned subsidiary, will acquire Mattress Firm in a transaction valued at approximately $4.0 billion. The transaction is expected to be funded by approximately $2.7 billion of cash consideration and the issuance of 34.2 million shares of common stock resulting in a total stock consideration value of $1.3 billion based on a closing share price of $37.62 as of May 8, 2023.

Net Sales

Net Sales	6 Months Ended
	Jun. 30, 2023
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 months ended June 30, 2023 and 2022: Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 (in millions) North America International Consolidated North America International Consolidated Channel Wholesale $ 896.0 $ 93.2 $ 989.2 $ 847.8 $ 91.3 $ 939.1 Direct 120.8 159.7 280.5 116.9 155.0 271.9 Net sales $ 1,016.8 $ 252.9 $ 1,269.7 $ 964.7 $ 246.3 $ 1,211.0 North America International Consolidated North America International Consolidated Product Bedding $ 955.6 $ 206.4 $ 1,162.0 $ 909.1 $ 205.1 $ 1,114.2 Other 61.2 46.5 107.7 55.6 41.2 96.8 Net sales $ 1,016.8 $ 252.9 $ 1,269.7 $ 964.7 $ 246.3 $ 1,211.0 North America International Consolidated North America International Consolidated Geographical region United States $ 946.2 $ — $ 946.2 $ 890.3 $ — $ 890.3 All Other 70.6 252.9 323.5 74.4 246.3 320.7 Net sales $ 1,016.8 $ 252.9 $ 1,269.7 $ 964.7 $ 246.3 $ 1,211.0 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 six months ended June 30, 2023 and 2022: Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 (in millions) North America International Consolidated North America International Consolidated Channel Wholesale $ 1,700.3 $ 201.5 $ 1,901.8 $ 1,659.1 $ 204.1 $ 1,863.2 Direct 236.1 339.9 576.0 237.0 350.3 587.3 Net sales $ 1,936.4 $ 541.4 $ 2,477.8 $ 1,896.1 $ 554.4 $ 2,450.5 North America International Consolidated North America International Consolidated Product Bedding $ 1,809.9 $ 444.4 $ 2,254.3 $ 1,774.0 $ 461.6 $ 2,235.6 Other 126.5 97.0 223.5 122.1 92.8 214.9 Net sales $ 1,936.4 $ 541.4 $ 2,477.8 $ 1,896.1 $ 554.4 $ 2,450.5 North America International Consolidated North America International Consolidated Geographical region United States $ 1,801.1 $ — $ 1,801.1 $ 1,754.6 $ — $ 1,754.6 All Other 135.3 541.4 676.7 141.5 554.4 695.9 Net sales $ 1,936.4 $ 541.4 $ 2,477.8 $ 1,896.1 $ 554.4 $ 2,450.5

Goodwill

Goodwill	6 Months Ended
	Jun. 30, 2023
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, 2022 $ 607.3 $ 455.0 $ 1,062.3 Foreign currency translation and other 2.3 16.3 18.6 Balance as of June 30, 2023 $ 609.6 $ 471.3 $ 1,080.9

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Debt for the Company consists of the following: June 30, 2023 December 31, 2022 (in millions, except percentages) Amount Rate Amount Rate Maturity Date 2019 Credit Agreement: Term A Facility $ 611.6 (1) $ 638.8 (2) October 16, 2024 Revolver 282.0 (1) 337.0 (2) October 16, 2024 2031 Senior Notes 800.0 3.875% 800.0 3.875% October 15, 2031 2029 Senior Notes 800.0 4.000% 800.0 4.000% April 15, 2029 Securitized debt 175.3 (3) 139.3 (4) April 7, 2025 Finance lease obligations (5) 75.3 78.7 Various Other 55.7 37.0 Various Total debt 2,799.9 2,830.8 Less: Deferred financing costs 18.8 20.5 Total debt, net 2,781.1 2,810.3 Less: Current portion 73.6 70.4 Total long-term debt, net $ 2,707.5 $ 2,739.9 (1) Interest at SOFR index plus 10 basis points of credit spread adjustment, plus applicable margin of 1.375% as of June 30, 2023. (2) Interest at LIBOR plus applicable margin of 1.250% as of December 31, 2022. (3) Interest at one month SOFR index plus 10 basis points of credit spread adjustment, plus 85 basis points. (4) Interest at one month LIBOR index plus 70 basis points. (5) New finance lease obligations are a non-cash financing activity. As of June 30, 2023, 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, as amended, provides for a $725.0 million revolving credit facility and a $725.0 million term loan facility. On May 19, 2023, the Company entered into an amendment to the 2019 Credit Agreement that replaced LIBOR with SOFR as the reference rate for U.S. dollar-denominated loans. Borrowings under the amended Credit Agreement will bear interest at a base rate or a rate equal to SOFR plus an applicable margin. For the revolving credit facility and the term loan facility such applicable margins are determined by a pricing grid based on the consolidated total net leverage ratio of the Company. The Company had $282.0 million in outstanding borrowings under its revolving credit facility as of June 30, 2023. Total remaining availability under the revolving credit facility was $442.4 million after a $0.6 million reduction for outstanding letters of credit as of June 30, 2023. 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"). On April 6, 2023, the Company and certain of its subsidiaries entered into a second amendment to the Accounts Receivable Securitization. The amendment, among other things, extended the maturity date of the Accounts Receivable Securitization to April 7, 2025. While subject to a $200.0 million overall limit, the availability of revolving loans varies over the course of the year based on the seasonality of the Company's accounts receivable. As of June 30, 2023, the Company had completely drawn on the outstanding availability of the Accounts Receivable Securitization with borrowings of $175.3 million.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity (a) Treasury Stock. As of June 30, 2023, the Company had approximately $774.5 million remaining under its share repurchase authorization. The Company did not repurchase shares, under the program, during the three months ended June 30, 2023. The Company repurchased 4.4 million shares, under the program, for approximately $117.0 million during the three months ended June 30, 2022. The Company repurchased 0.1 million and 16.6 million shares, under the program, for approximately $5.0 million and $566.2 million during the six months ended June 30, 2023 and 2022, respectively. In addition, the Company acquired shares upon the vesting of certain restricted stock units ("RSUs") and performance restricted stock units ("PRSUs"), which were withheld to satisfy tax withholding obligations during each of the three and six months ended June 30, 2023 and 2022, respectively. 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 $0.3 million and $0.2 million in treasury stock acquired during the three months ended June 30, 2023 and 2022, respectively. The Company acquired approximately $31.0 million and $45.8 million in treasury stock during the six months ended June 30, 2023 and 2022, respectively. (b) AOCL . AOCL consisted of the following: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2023 2022 2023 2022 Foreign Currency Translation Balance at beginning of period $ (160.4) $ (112.7) $ (175.3) $ (95.2) Other comprehensive loss: Foreign currency translation adjustments (1) 17.2 (57.8) 32.1 (75.3) Balance at end of period $ (143.2) $ (170.5) $ (143.2) $ (170.5) Pensions Balance at beginning of period $ (1.6) $ (4.0) $ (1.6) $ (4.0) Other comprehensive loss: Net change from period revaluations — — — — Balance at end of period $ (1.6) $ (4.0) $ (1.6) $ (4.0) (1) In 2023 and 2022, there were no tax impacts related to foreign currency translation adjustments and no amounts were reclassified to earnings.

Other Items

Other Items	6 Months Ended
	Jun. 30, 2023
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) June 30, 2023 December 31, 2022 Wages and benefits $ 91.3 $ 78.0 Unearned revenue 58.8 48.5 Advertising 57.7 64.9 Taxes 55.7 52.1 Other 189.3 189.2 $ 452.8 $ 432.7

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company's stock-based compensation expense for the three and six months ended June 30, 2023 and 2022 included PRSUs, non-qualified stock options and RSUs. A summary of the Company's stock-based compensation expense is presented in the following table: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2023 2022 2023 2022 PRSU expense $ 7.8 $ 7.9 $ 12.9 $ 16.2 Option expense 0.5 — 1.1 — RSU expense 5.1 5.1 10.2 10.7 Total stock-based compensation expense $ 13.4 $ 13.0 $ 24.2 $ 26.9 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 2023, the Company granted PRSUs as a component of the long-term incentive plan ("2023 PRSUs"). The Company has recorded stock-based compensation expense related to the 2023 PRSUs during the three and six months ended June 30, 2023, as it was probable that the Company would achieve the specified performance targets for the performance period.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
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	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company's effective tax rates for the three months ended June 30, 2023 and 2022 were 25.7% and 23.7%, respectively. The Company's effective tax rates for the six months ended June 30, 2023 and 2022 were 24.1% and 23.0%, respectively. The Company's effective tax rates for the three and six months ended June 30, 2023 and 2022 differed from the U.S. federal statutory rate of 21.0% principally due to subpart F income (i.e., global intangible low-taxed income, or "GILTI," earned by the Company's foreign subsidiaries), foreign income tax rate differentials, state and local taxes, changes in the Company's uncertain tax positions, the excess tax benefit related to stock-based compensation and certain other permanent items. 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 2012 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. In November 2018, the Company entered into the Advanced Pricing Agreement program (the "APA Program") requesting SKAT and the U.S. Internal Revenue Service ("IRS") to directly negotiate a mutually acceptable agreement on the Danish Tax Matter. During December 2022, pursuant to the negotiations described above with respect to the APA Program, SKAT and the IRS preliminarily concluded on a mutually acceptable framework ("Preliminary Framework") to resolve the Danish Tax Matter for the 2012 to 2022 tax years. If ultimately agreed upon by the two tax authorities, the terms of the Preliminary Framework would extend to the years 2023 and 2024, as well. The Preliminary Framework is not a definitive agreement, but its terms provide updated definitive data for the Company to determine the potential Danish income tax exposure for the 2012 to 2022 tax years as well as the associated deferred tax asset for the U.S. correlative benefit for such periods. Subsequent to December 31, 2022, the Company began discussions individually with both SKAT and the IRS regarding the implementation of the Preliminary Framework. In this regard, it is expected that the Preliminary Framework will be finalized into a definitive agreement in 2023. Starting January 1, 2023 the Company adopted the terms of the Preliminary Framework in the calculation of the royalty described above. As such, there is no uncertain income tax liability or deferred tax asset associated with 2023. The uncertain income tax liability for the Danish Tax Matter for the years 2012 through 2022 was approximately $38.5 million and $37.8 million at June 30, 2023 and December 31, 2022, respectively, and is reflected in the Company's Condensed Consolidated Balance Sheet in accrued expenses and other current liabilities. The deferred tax asset for the U.S. correlative benefit associated with the accrual of Danish Tax Matter for the 2012 to 2022 tax years was approximately $21.6 million for both periods ended June 30, 2023 and December 31, 2022. As of June 30, 2023, the Company had made the following tax deposits related to assessments received by SKAT for the Danish Tax Matter for the years 2012 through 2016, which are reflected in the Company's Condensed Consolidated Balance Sheet in other current assets: (in millions) USD VAT deposits remaining with SKAT $ 1.4 Deposit payments 58.3 Total $ 59.7 If the Company is not successful in concluding the Preliminary Framework for the 2012 to 2022 tax years or if there is a change in facts and circumstances as it relates to the Danish Tax Matter, the Company may be required to further increase its uncertain income tax position associated with this matter, or decrease its deferred tax asset, also related to this matter, which could have a material impact on the Company's reported earnings. There were no other significant changes in the Danish Tax Matter or other uncertain tax positions during the six months ended June 30, 2023.

Earnings Per Common Share

Earnings Per Common Share	6 Months Ended
	Jun. 30, 2023
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 Six Months Ended June 30, June 30, (in millions, except per common share amounts) 2023 2022 2023 2022 Numerator: Net income attributable to Tempur Sealy International, Inc. $ 92.4 $ 90.6 $ 177.7 $ 221.3 Denominator: Denominator for basic earnings per common share-weighted average shares 172.1 174.1 172.1 178.3 Effect of dilutive securities 4.7 4.7 4.7 5.4 Denominator for diluted earnings per common share-adjusted weighted average shares 176.8 178.8 176.8 183.7 Basic earnings per common share $ 0.54 $ 0.52 $ 1.03 $ 1.24 Diluted earnings per common share $ 0.52 $ 0.51 $ 1.01 $ 1.20 The Company excluded 0.6 million and 0.4 million shares from the diluted earnings per common share computation because their exercise price was greater than the average market price of Tempur Sealy International's common stock or they were otherwise anti-dilutive for the three and six months ended June 30, 2023 and 2022, respectively. Holders of non-vested stock-based compensation awards do not have voting rights but do participate in dividend equivalents distributed upon the award vesting.

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company operates in two segments: North America and International. These segments are strategic business units that are managed separately based on geography. The North America segment consists of manufacturing and distribution subsidiaries, joint ventures and licensees located in the U.S., Canada and Mexico. The International segment consists of manufacturing and distribution subsidiaries, joint ventures and licensees located in Europe, Asia-Pacific and Latin America (other than Mexico). 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) June 30, 2023 December 31, 2022 North America $ 5,166.5 $ 5,161.7 International 1,214.6 1,181.5 Corporate 1,187.0 1,077.1 Inter-segment eliminations (2,997.3) (3,060.5) Total assets $ 4,570.8 $ 4,359.8 The following table summarizes property, plant and equipment, net, by segment: (in millions) June 30, 2023 December 31, 2022 North America $ 727.2 $ 672.1 International 92.3 87.3 Corporate 31.4 31.7 Total property, plant and equipment, net $ 850.9 $ 791.1 The following table summarizes operating lease right-of-use assets by segment: (in millions) June 30, 2023 December 31, 2022 North America $ 408.1 $ 349.0 International 156.6 154.1 Corporate 3.3 3.7 Total operating lease right-of-use assets $ 568.0 $ 506.8 The following table summarizes segment information for the three months ended June 30, 2023: (in millions) North America International Corporate Eliminations Consolidated Net sales $ 1,016.8 $ 252.9 $ — $ — $ 1,269.7 Inter-segment sales $ 0.3 $ 0.4 $ — $ (0.7) $ — Inter-segment royalty expense (income) 9.3 (9.3) — — — Gross profit 403.4 138.9 — — 542.3 Operating income (loss) 174.1 33.9 (49.2) — 158.8 Income (loss) before income taxes 172.4 32.7 (79.7) — 125.4 Depreciation and amortization (1) $ 24.3 $ 6.4 $ 15.3 $ — $ 46.0 Capital expenditures 52.3 6.8 1.5 — 60.6 (1) Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the three months ended June 30, 2022: (in millions) North America International Corporate Eliminations Consolidated Net sales $ 964.7 $ 246.3 $ — $ — $ 1,211.0 Inter-segment sales $ 0.4 $ 0.5 $ — $ (0.9) $ — Inter-segment royalty expense (income) 2.4 (2.4) — — — Gross profit 365.8 130.7 — — 496.5 Operating income (loss) 146.1 35.8 (38.0) — 143.9 Income (loss) before income taxes 144.8 34.7 (60.0) — 119.5 Depreciation and amortization (1) $ 23.5 $ 5.9 $ 14.6 $ — $ 44.0 Capital expenditures 61.9 6.8 1.2 — 69.9 (1) Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the six months ended June 30, 2023: (in millions) North America International Corporate Eliminations Consolidated Net sales $ 1,936.4 $ 541.4 $ — $ — $ 2,477.8 Inter-segment sales $ 0.6 $ 0.4 $ — $ (1.0) $ — Inter-segment royalty expense (income) 16.7 (16.7) — — — Gross profit 747.4 294.8 — — 1,042.2 Operating income (loss) 310.1 78.1 (86.1) — 302.1 Income (loss) from continuing operations before income taxes 306.6 75.7 (146.5) — 235.8 Depreciation and amortization (1) $ 49.8 $ 12.9 $ 27.9 $ — $ 90.6 Capital expenditures 98.1 11.5 3.1 — 112.7 (1) Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the six months ended June 30, 2022: (in millions) North America International Corporate Eliminations Consolidated Net sales $ 1,896.1 $ 554.4 $ — $ — $ 2,450.5 Inter-segment sales $ 0.9 $ 0.7 $ — $ (1.6) $ — Inter-segment royalty expense (income) 9.4 (9.4) — — — Gross profit 718.2 301.1 — — 1,019.3 Operating income (loss) 301.5 102.6 (71.6) — 332.5 Income (loss) from continuing operations before income taxes 300.6 101.1 (113.2) — 288.5 Depreciation and amortization (1) $ 46.2 $ 11.9 $ 30.1 $ — $ 88.2 Capital expenditures 112.9 14.6 2.7 — 130.2 (1) Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes property, plant and equipment, net by geographic region: (in millions) June 30, 2023 December 31, 2022 United States $ 734.8 $ 682.0 All other 116.1 109.1 Total property, plant and equipment, net $ 850.9 $ 791.1 The following table summarizes operating lease right-of-use assets by geographic region: (in millions) June 30, 2023 December 31, 2022 United States $ 398.7 $ 339.6 United Kingdom 123.3 122.9 All other 46.0 44.3 Total operating lease right-of-use assets $ 568.0 $ 506.8

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ 92.4	$ 90.6	$ 177.7	$ 221.3

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
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 designs, manufactures and distributes 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 Asia-Pacific joint ventures to develop markets for Sealy® and Stearns & Foster® branded products and ownership in a United Kingdom joint venture to manufacture, market, and distribute Sealy® and Stearns & Foster® branded products. The Company's ownership interests in each of 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 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. 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, 2022, included in the 2022 Annual Report filed with the Securities and Exchange Commission on February 17, 2023. 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	Adoption of New Accounting Standards Reference Rate Reform. In March 2020, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2020-04, "Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting," which provides guidance on the accounting impacts due to the expected market transition from the London Interbank Offered Rate ("LIBOR") and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate ("SOFR"). The FASB continued to refine its guidance with the January 2021 ASU 2021-01 issued update, "Reference Rate Reform (Topic 848): Scope" and the December 2022 ASU 2022-06 issued update, "Reference Rate Reform ("Topic 848"): Deferral of the Sunset Date of Topic 848", of which all were effective upon issuance. These updates provide entities with certain optional relief expedients and exceptions for applying GAAP to contract modifications, hedge accounting, and other transactions affected by reference rate reform if certain criteria are met. An entity that makes this election would present and account for a modified contract as a continuation of the existing contract. Entities are afforded these relief options until December 31, 2024, after which time they will no longer be permitted. In May 2023, the Company amended its 2019 Credit Agreement to transition the applicable reference rate from LIBOR to SOFR. See "Note 4 - Debt" for additional details. The results of this guidance did not have a material impact on the condensed consolidated financial statements.
Inventories	Inventories. Inventories are stated at the lower of cost or net realizable value, determined by the first-in, first-out method
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 regularly reviews the adequacy of its allowance for credit losses. 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. As of June 30, 2023, the Company's accounts receivable were substantially current. 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. Account balances are charged off against the allowance for credit losses after all reasonable means of collection have been exhausted and the potential for recovery is considered remote. The allowance for credit losses is included in accounts receivable, net in the accompanying Condensed Consolidated Balance Sheets.
Fair Value	Fair Value. 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 Level 2 inputs, which include observable inputs estimated using discounted cash flows and market-based expectations for interest rates, credit risk and the contractual terms of debt instruments.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Schedule of Inventory	Inventories are stated at the lower of cost or net realizable value, determined by the first-in, first-out method, and consist of the following: June 30, December 31, (in millions) 2023 2022 Finished goods $ 346.4 $ 352.9 Work-in-process 17.5 19.4 Raw materials and supplies 165.4 182.7 $ 529.3 $ 555.0
Summary of Warranty Activity	The Company had the following activity for its accrued warranty expense from December 31, 2022 to June 30, 2023: (in millions) Balance as of December 31, 2022 $ 41.6 Amounts accrued 11.4 Warranties charged to accrual (9.0) Balance as of June 30, 2023 $ 44.0
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, 2022 to June 30, 2023: (in millions) Balance as of December 31, 2022 $ 62.4 Amounts accrued 4.2 Write-offs charged against the allowance (1.2) Balance as of June 30, 2023 $ 65.4
Schedule of Long Term Debt	The fair values of these material financial instruments are as follows: Fair Value (in millions) June 30, 2023 December 31, 2022 2029 Senior Notes $ 693.6 $ 672.7 2031 Senior Notes $ 651.0 $ 627.1

Net Sales (Tables)

Net Sales (Tables)	6 Months Ended
	Jun. 30, 2023
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 months ended June 30, 2023 and 2022: Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 (in millions) North America International Consolidated North America International Consolidated Channel Wholesale $ 896.0 $ 93.2 $ 989.2 $ 847.8 $ 91.3 $ 939.1 Direct 120.8 159.7 280.5 116.9 155.0 271.9 Net sales $ 1,016.8 $ 252.9 $ 1,269.7 $ 964.7 $ 246.3 $ 1,211.0 North America International Consolidated North America International Consolidated Product Bedding $ 955.6 $ 206.4 $ 1,162.0 $ 909.1 $ 205.1 $ 1,114.2 Other 61.2 46.5 107.7 55.6 41.2 96.8 Net sales $ 1,016.8 $ 252.9 $ 1,269.7 $ 964.7 $ 246.3 $ 1,211.0 North America International Consolidated North America International Consolidated Geographical region United States $ 946.2 $ — $ 946.2 $ 890.3 $ — $ 890.3 All Other 70.6 252.9 323.5 74.4 246.3 320.7 Net sales $ 1,016.8 $ 252.9 $ 1,269.7 $ 964.7 $ 246.3 $ 1,211.0 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 six months ended June 30, 2023 and 2022: Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 (in millions) North America International Consolidated North America International Consolidated Channel Wholesale $ 1,700.3 $ 201.5 $ 1,901.8 $ 1,659.1 $ 204.1 $ 1,863.2 Direct 236.1 339.9 576.0 237.0 350.3 587.3 Net sales $ 1,936.4 $ 541.4 $ 2,477.8 $ 1,896.1 $ 554.4 $ 2,450.5 North America International Consolidated North America International Consolidated Product Bedding $ 1,809.9 $ 444.4 $ 2,254.3 $ 1,774.0 $ 461.6 $ 2,235.6 Other 126.5 97.0 223.5 122.1 92.8 214.9 Net sales $ 1,936.4 $ 541.4 $ 2,477.8 $ 1,896.1 $ 554.4 $ 2,450.5 North America International Consolidated North America International Consolidated Geographical region United States $ 1,801.1 $ — $ 1,801.1 $ 1,754.6 $ — $ 1,754.6 All Other 135.3 541.4 676.7 141.5 554.4 695.9 Net sales $ 1,936.4 $ 541.4 $ 2,477.8 $ 1,896.1 $ 554.4 $ 2,450.5

Goodwill (Tables)

Goodwill (Tables)	6 Months Ended
	Jun. 30, 2023
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, 2022 $ 607.3 $ 455.0 $ 1,062.3 Foreign currency translation and other 2.3 16.3 18.6 Balance as of June 30, 2023 $ 609.6 $ 471.3 $ 1,080.9

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Line of Credit Facilities	Debt for the Company consists of the following: June 30, 2023 December 31, 2022 (in millions, except percentages) Amount Rate Amount Rate Maturity Date 2019 Credit Agreement: Term A Facility $ 611.6 (1) $ 638.8 (2) October 16, 2024 Revolver 282.0 (1) 337.0 (2) October 16, 2024 2031 Senior Notes 800.0 3.875% 800.0 3.875% October 15, 2031 2029 Senior Notes 800.0 4.000% 800.0 4.000% April 15, 2029 Securitized debt 175.3 (3) 139.3 (4) April 7, 2025 Finance lease obligations (5) 75.3 78.7 Various Other 55.7 37.0 Various Total debt 2,799.9 2,830.8 Less: Deferred financing costs 18.8 20.5 Total debt, net 2,781.1 2,810.3 Less: Current portion 73.6 70.4 Total long-term debt, net $ 2,707.5 $ 2,739.9 (1) Interest at SOFR index plus 10 basis points of credit spread adjustment, plus applicable margin of 1.375% as of June 30, 2023. (2) Interest at LIBOR plus applicable margin of 1.250% as of December 31, 2022. (3) Interest at one month SOFR index plus 10 basis points of credit spread adjustment, plus 85 basis points. (4) Interest at one month LIBOR index plus 70 basis points. (5) New finance lease obligations are a non-cash financing activity.

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Stockholders' Equity Note [Abstract]
Changes in Accumulated Other Comprehensive Loss	AOCL consisted of the following: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2023 2022 2023 2022 Foreign Currency Translation Balance at beginning of period $ (160.4) $ (112.7) $ (175.3) $ (95.2) Other comprehensive loss: Foreign currency translation adjustments (1) 17.2 (57.8) 32.1 (75.3) Balance at end of period $ (143.2) $ (170.5) $ (143.2) $ (170.5) Pensions Balance at beginning of period $ (1.6) $ (4.0) $ (1.6) $ (4.0) Other comprehensive loss: Net change from period revaluations — — — — Balance at end of period $ (1.6) $ (4.0) $ (1.6) $ (4.0) (1) In 2023 and 2022, there were no tax impacts related to foreign currency translation adjustments and no amounts were reclassified to earnings.

Other Items (Tables)

Other Items (Tables)	6 Months Ended
	Jun. 30, 2023
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) June 30, 2023 December 31, 2022 Wages and benefits $ 91.3 $ 78.0 Unearned revenue 58.8 48.5 Advertising 57.7 64.9 Taxes 55.7 52.1 Other 189.3 189.2 $ 452.8 $ 432.7

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2023
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 June 30, Six Months Ended June 30, (in millions) 2023 2022 2023 2022 PRSU expense $ 7.8 $ 7.9 $ 12.9 $ 16.2 Option expense 0.5 — 1.1 — RSU expense 5.1 5.1 10.2 10.7 Total stock-based compensation expense $ 13.4 $ 13.0 $ 24.2 $ 26.9

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Summary of Income Tax Examinations	As of June 30, 2023, the Company had made the following tax deposits related to assessments received by SKAT for the Danish Tax Matter for the years 2012 through 2016, which are reflected in the Company's Condensed Consolidated Balance Sheet in other current assets: (in millions) USD VAT deposits remaining with SKAT $ 1.4 Deposit payments 58.3 Total $ 59.7

Earnings Per Common Share (Tabl

Earnings Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2023
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 Six Months Ended June 30, June 30, (in millions, except per common share amounts) 2023 2022 2023 2022 Numerator: Net income attributable to Tempur Sealy International, Inc. $ 92.4 $ 90.6 $ 177.7 $ 221.3 Denominator: Denominator for basic earnings per common share-weighted average shares 172.1 174.1 172.1 178.3 Effect of dilutive securities 4.7 4.7 4.7 5.4 Denominator for diluted earnings per common share-adjusted weighted average shares 176.8 178.8 176.8 183.7 Basic earnings per common share $ 0.54 $ 0.52 $ 1.03 $ 1.24 Diluted earnings per common share $ 0.52 $ 0.51 $ 1.01 $ 1.20

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Total Assets and Long-Lived Assets by Segment	The following table summarizes total assets by segment: (in millions) June 30, 2023 December 31, 2022 North America $ 5,166.5 $ 5,161.7 International 1,214.6 1,181.5 Corporate 1,187.0 1,077.1 Inter-segment eliminations (2,997.3) (3,060.5) Total assets $ 4,570.8 $ 4,359.8 The following table summarizes property, plant and equipment, net, by segment: (in millions) June 30, 2023 December 31, 2022 North America $ 727.2 $ 672.1 International 92.3 87.3 Corporate 31.4 31.7 Total property, plant and equipment, net $ 850.9 $ 791.1 The following table summarizes operating lease right-of-use assets by segment: (in millions) June 30, 2023 December 31, 2022 North America $ 408.1 $ 349.0 International 156.6 154.1 Corporate 3.3 3.7 Total operating lease right-of-use assets $ 568.0 $ 506.8
Segment Financial Information	The following table summarizes segment information for the three months ended June 30, 2023: (in millions) North America International Corporate Eliminations Consolidated Net sales $ 1,016.8 $ 252.9 $ — $ — $ 1,269.7 Inter-segment sales $ 0.3 $ 0.4 $ — $ (0.7) $ — Inter-segment royalty expense (income) 9.3 (9.3) — — — Gross profit 403.4 138.9 — — 542.3 Operating income (loss) 174.1 33.9 (49.2) — 158.8 Income (loss) before income taxes 172.4 32.7 (79.7) — 125.4 Depreciation and amortization (1) $ 24.3 $ 6.4 $ 15.3 $ — $ 46.0 Capital expenditures 52.3 6.8 1.5 — 60.6 (1) Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the three months ended June 30, 2022: (in millions) North America International Corporate Eliminations Consolidated Net sales $ 964.7 $ 246.3 $ — $ — $ 1,211.0 Inter-segment sales $ 0.4 $ 0.5 $ — $ (0.9) $ — Inter-segment royalty expense (income) 2.4 (2.4) — — — Gross profit 365.8 130.7 — — 496.5 Operating income (loss) 146.1 35.8 (38.0) — 143.9 Income (loss) before income taxes 144.8 34.7 (60.0) — 119.5 Depreciation and amortization (1) $ 23.5 $ 5.9 $ 14.6 $ — $ 44.0 Capital expenditures 61.9 6.8 1.2 — 69.9 (1) Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the six months ended June 30, 2023: (in millions) North America International Corporate Eliminations Consolidated Net sales $ 1,936.4 $ 541.4 $ — $ — $ 2,477.8 Inter-segment sales $ 0.6 $ 0.4 $ — $ (1.0) $ — Inter-segment royalty expense (income) 16.7 (16.7) — — — Gross profit 747.4 294.8 — — 1,042.2 Operating income (loss) 310.1 78.1 (86.1) — 302.1 Income (loss) from continuing operations before income taxes 306.6 75.7 (146.5) — 235.8 Depreciation and amortization (1) $ 49.8 $ 12.9 $ 27.9 $ — $ 90.6 Capital expenditures 98.1 11.5 3.1 — 112.7 (1) Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the six months ended June 30, 2022: (in millions) North America International Corporate Eliminations Consolidated Net sales $ 1,896.1 $ 554.4 $ — $ — $ 2,450.5 Inter-segment sales $ 0.9 $ 0.7 $ — $ (1.6) $ — Inter-segment royalty expense (income) 9.4 (9.4) — — — Gross profit 718.2 301.1 — — 1,019.3 Operating income (loss) 301.5 102.6 (71.6) — 332.5 Income (loss) from continuing operations before income taxes 300.6 101.1 (113.2) — 288.5 Depreciation and amortization (1) $ 46.2 $ 11.9 $ 30.1 $ — $ 88.2 Capital expenditures 112.9 14.6 2.7 — 130.2 (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) June 30, 2023 December 31, 2022 United States $ 734.8 $ 682.0 All other 116.1 109.1 Total property, plant and equipment, net $ 850.9 $ 791.1 The following table summarizes operating lease right-of-use assets by geographic region: (in millions) June 30, 2023 December 31, 2022 United States $ 398.7 $ 339.6 United Kingdom 123.3 122.9 All other 46.0 44.3 Total operating lease right-of-use assets $ 568.0 $ 506.8

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($) channel	Dec. 31, 2022 USD ($)
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Number of products sales channels | channel	2
Asia Pacific Joint Ventures
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Ownership percentage	50%
United Kingdom Joint Venture
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Ownership percentage	50%
Accrued Expenses And Other Current Liabilities
Warranty Term [Abstract]
Accrued warranty expense	$ 19.9	$ 17.8
Other Noncurrent Liabilities
Warranty Term [Abstract]
Accrued warranty expense	$ 24.1	$ 23.8
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	Jun. 30, 2023	Dec. 31, 2022
Accounting Policies [Abstract]
Finished goods	$ 346.4	$ 352.9
Work-in-process	17.5	19.4
Raw materials and supplies	165.4	182.7
Total	$ 529.3	$ 555

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Warranty Activity (Details) - Warranty Reserves $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 41.6
Amounts accrued	11.4
Warranties charged to accrual	(9)
Ending balance	$ 44

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 62.4
Amounts accrued	4.2	$ 3.8
Write-offs charged against the allowance	(1.2)
Ending balance	$ 65.4

Summary of Significant Accoun_8

Summary of Significant Accounting Policies - Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
2029 Senior Notes
Debt Instrument [Line Items]
Long-term debt, fair value	$ 693.6	$ 672.7
2031 Senior Notes
Debt Instrument [Line Items]
Long-term debt, fair value	$ 651	$ 627.1

Summary of Significant Accoun_9

Summary of Significant Accounting Policies - Definitive Agreement with Mattress Firm (Details) - Matress Firm - USD ($) $ / shares in Units, shares in Millions, $ in Billions	May 09, 2023	May 08, 2023
Debt Instrument [Line Items]
Consideration transferred	$ 4
Cash consideration	$ 2.7
Shares issued in acquisition (in shares)	34.2
Total stock consideration	$ 1.3
Closing share price (in dollars per share)		$ 37.62

Net Sales - Sales (Details)

Net Sales - Sales (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Net sales	$ 1,269.7	$ 1,211	$ 2,477.8	$ 2,450.5
Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	1,269.7	1,211	2,477.8	2,450.5
Operating Segments | United States
Disaggregation of Revenue [Line Items]
Net sales	946.2	890.3	1,801.1	1,754.6
Operating Segments | All Other
Disaggregation of Revenue [Line Items]
Net sales	323.5	320.7	676.7	695.9
Operating Segments | Bedding
Disaggregation of Revenue [Line Items]
Net sales	1,162	1,114.2	2,254.3	2,235.6
Operating Segments | Other
Disaggregation of Revenue [Line Items]
Net sales	107.7	96.8	223.5	214.9
Operating Segments | Wholesale
Disaggregation of Revenue [Line Items]
Net sales	989.2	939.1	1,901.8	1,863.2
Operating Segments | Direct
Disaggregation of Revenue [Line Items]
Net sales	280.5	271.9	576	587.3
Operating Segments | North America
Disaggregation of Revenue [Line Items]
Net sales	1,016.8	964.7	1,936.4	1,896.1
Operating Segments | North America | United States
Disaggregation of Revenue [Line Items]
Net sales	946.2	890.3
Operating Segments | North America | All Other
Disaggregation of Revenue [Line Items]
Net sales	70.6	74.4	135.3	141.5
Operating Segments | North America | Bedding
Disaggregation of Revenue [Line Items]
Net sales	955.6	909.1	1,809.9	1,774
Operating Segments | North America | Other
Disaggregation of Revenue [Line Items]
Net sales	61.2	55.6	126.5	122.1
Operating Segments | North America | Wholesale
Disaggregation of Revenue [Line Items]
Net sales	896	847.8	1,700.3	1,659.1
Operating Segments | North America | Direct
Disaggregation of Revenue [Line Items]
Net sales	120.8	116.9	236.1	237
Operating Segments | International
Disaggregation of Revenue [Line Items]
Net sales	252.9	246.3	541.4	554.4
Operating Segments | International | United States
Disaggregation of Revenue [Line Items]
Net sales	0	0	0	0
Operating Segments | International | All Other
Disaggregation of Revenue [Line Items]
Net sales	252.9	246.3	541.4	554.4
Operating Segments | International | Bedding
Disaggregation of Revenue [Line Items]
Net sales	206.4	205.1	444.4	461.6
Operating Segments | International | Other
Disaggregation of Revenue [Line Items]
Net sales	46.5	41.2	97	92.8
Operating Segments | International | Wholesale
Disaggregation of Revenue [Line Items]
Net sales	93.2	91.3	201.5	204.1
Operating Segments | International | Direct
Disaggregation of Revenue [Line Items]
Net sales	$ 159.7	$ 155	$ 339.9	$ 350.3

Goodwill (Details)

Goodwill (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 1,062.3
Foreign currency translation and other	18.6
Ending balance	1,080.9
North America
Goodwill [Roll Forward]
Beginning balance	607.3
Foreign currency translation and other	2.3
Ending balance	609.6
International
Goodwill [Roll Forward]
Beginning balance	455
Foreign currency translation and other	16.3
Ending balance	$ 471.3

Debt - Schedule of Borrowings O

Debt - Schedule of Borrowings Outstanding (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Long-term Debt, Current and Noncurrent [Abstract]
Finance lease obligations	$ 75.3	$ 78.7
Total debt	2,799.9	2,830.8
Less: Deferred financing costs	18.8	20.5
Total debt, net	2,781.1	2,810.3
Less: Current portion	73.6	70.4
Total long-term debt, net	2,707.5	2,739.9
Securitized debt
Long-term Debt, Current and Noncurrent [Abstract]
Long term debt, gross	$ 175.3	$ 139.3
Securitized debt | LIBOR
Line of Credit Facility [Abstract]
Variable rate (as a percent)		0.70%
Securitized debt | Secured Overnight Financing Rate (SOFR)
Line of Credit Facility [Abstract]
Variable rate (as a percent)	0.85%
Credit spread adjustment (as a percent)	0.10%
Other
Long-term Debt, Current and Noncurrent [Abstract]
Long term debt, gross	$ 55.7	$ 37
2019 Credit Agreement | Revolving Credit Facility
Long-term Debt, Current and Noncurrent [Abstract]
Long term debt, gross	$ 282	$ 337
2019 Credit Agreement | Revolving Credit Facility | LIBOR
Line of Credit Facility [Abstract]
Variable rate (as a percent)	1.375%	1.25%
2019 Credit Agreement | Term A Facility
Long-term Debt, Current and Noncurrent [Abstract]
Long term debt, gross	$ 611.6	$ 638.8
2019 Credit Agreement | Term A Facility | LIBOR
Line of Credit Facility [Abstract]
Variable rate (as a percent)	1.375%	1.25%
2031 Senior Notes | Senior Notes
Long-term Debt, Current and Noncurrent [Abstract]
Long term debt, gross	$ 800	$ 800
Line of Credit Facility [Abstract]
Stated percentage	3.875%	3.875%
2029 Senior Notes | Senior Notes
Long-term Debt, Current and Noncurrent [Abstract]
Long term debt, gross	$ 800	$ 800
Line of Credit Facility [Abstract]
Stated percentage	4%	4%

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	6 Months Ended
	Jun. 30, 2023	Apr. 06, 2023	Oct. 16, 2019
2019 Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Long-term line of credit	$ 282,000,000
Remaining borrowing capacity	442,400,000
Accounts Receivable Securitization | Securitized debt
Debt Instrument [Line Items]
Line of credit borrowing		$ 200,000,000
Unused borrowing capacity, fee	175,300,000
Revolving Credit Facility | 2019 Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Line of credit borrowing			$ 725,000,000
Term Loan Facility | 2019 Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Line of credit borrowing			$ 725,000,000
Letter of Credit | 2019 Credit Agreement | Line of Credit
Debt Instrument [Line Items]
Proceeds from lines of credit	$ 600,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Treasury stock, acquired (in shares)		4.4	0.1	16.6
Value of treasury stock acquired		$ 117	$ 5	$ 566.2
Performance-based Restricted Stock Units
Accumulated Other Comprehensive Income (Loss) [Line Items]
Value of treasury stock acquired	$ 0.3	$ 0.2	31	$ 45.8
February 2016 Program
Accumulated Other Comprehensive Income (Loss) [Line Items]
Remaining shares under share repurchase authorization	$ 774.5		$ 774.5

Stockholders' Equity - AOCL (De

Stockholders' Equity - AOCL (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 34,700,000	$ (100,700,000)	$ (22,100,000)	$ 285,800,000
Foreign currency translation adjustments	17,200,000	(57,800,000)	32,100,000	(75,300,000)
Balance at end of period	138,100,000	(189,900,000)	138,100,000	(189,900,000)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(160,400,000)	(112,700,000)	(175,300,000)	(95,200,000)
Balance at end of period	(143,200,000)	(170,500,000)	(143,200,000)	(170,500,000)
Tax expense (benefits)			0	0
Net amount reclassified to earnings			0	0
Pensions
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(1,600,000)	(4,000,000)	(1,600,000)	(4,000,000)
Net change from period revaluations	0	0	0	0
Balance at end of period	$ (1,600,000)	$ (4,000,000)	$ (1,600,000)	$ (4,000,000)

Other Items (Details)

Other Items (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Accrued Liabilities and Other Liabilities [Abstract]
Wages and benefits	$ 91.3	$ 78
Unearned revenue	58.8	48.5
Advertising	57.7	64.9
Taxes	55.7	52.1
Other	189.3	189.2
Total accrued liabilities	$ 452.8	$ 432.7

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 13.4	$ 13	$ 24.2	$ 26.9
PRSU expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	7.8	7.9	12.9	16.2
Option expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	0.5	0	1.1	0
RSU expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 5.1	$ 5.1	$ 10.2	$ 10.7

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Income Tax Examination [Line Items]
Effective income tax provision (as a percent)	25.70%	23.70%	24.10%	23%
Tax liability	$ 38.5		$ 38.5		$ 37.8
Danish Tax Authority (SKAT) | Foreign Tax Authority | Tax Years Post 2011
Income Tax Examination [Line Items]
Deferred tax assets	$ 21.6		$ 21.6		$ 21.6

Income Taxes - Income Tax Exami

Income Taxes - Income Tax Examination (Details) $ in Millions	Jun. 30, 2023 USD ($)
Income Tax Examination [Line Items]
Tax deposit	$ 59.7
VAT deposits remaining with SKAT
Income Tax Examination [Line Items]
Tax deposit	1.4
Deposit payments
Income Tax Examination [Line Items]
Tax deposit	$ 58.3

Earnings Per Common Share (Deta

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Numerator:
Net income attributable to Tempur Sealy International, Inc.	$ 92.4	$ 90.6	$ 177.7	$ 221.3
Denominator:
Denominator for basic earnings per common share-weighted average shares (in shares)	172.1	174.1	172.1	178.3
Effect of dilutive securities (in shares)	4.7	4.7	4.7	5.4
Denominator for diluted earnings per common share-adjusted weighted average shares (in shares)	176.8	178.8	176.8	183.7
Basic earnings per common share (in dollars per share)	$ 0.54	$ 0.52	$ 1.03	$ 1.24
Diluted earnings per common share (in dollars per share)	$ 0.52	$ 0.51	$ 1.01	$ 1.20
Shares excluded from diluted earnings per common share computation as anti-dilutive (in shares)	0.6	0.4	0.6	0.4

Business Segment Information (D

Business Segment Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) segment	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Segment Reporting Information [Line Items]
Number of business segments | segment			2
Segment information [Abstract]
Total assets	$ 4,570.8		$ 4,570.8		$ 4,359.8
Total property, plant and equipment, net	850.9		850.9		791.1
Operating lease assets	568		568		506.8
Net sales	1,269.7	$ 1,211	2,477.8	$ 2,450.5
Gross profit	542.3	496.5	1,042.2	1,019.3
Operating income (loss)	158.8	143.9	302.1	332.5
Income (loss) before income taxes	125.4	119.5	235.8	288.5
Depreciation and amortization	46	44	90.6	88.2
Capital expenditures	60.6	69.9	112.7	130.2
United States
Segment information [Abstract]
Total property, plant and equipment, net	734.8		734.8		682
Operating lease assets	398.7		398.7		339.6
All Other
Segment information [Abstract]
Total property, plant and equipment, net	116.1		116.1		109.1
United Kingdom
Segment information [Abstract]
Operating lease assets	123.3		123.3		122.9
All other
Segment information [Abstract]
Operating lease assets	46		46		44.3
Operating Segments
Segment information [Abstract]
Total property, plant and equipment, net	850.9		850.9		791.1
Net sales	1,269.7	1,211	2,477.8	2,450.5
Operating Segments | United States
Segment information [Abstract]
Net sales	946.2	890.3	1,801.1	1,754.6
Operating Segments | All Other
Segment information [Abstract]
Net sales	323.5	320.7	676.7	695.9
Operating Segments | North America
Segment information [Abstract]
Total assets	5,166.5		5,166.5		5,161.7
Total property, plant and equipment, net	727.2		727.2		672.1
Operating lease assets	408.1		408.1		349
Net sales	1,016.8	964.7	1,936.4	1,896.1
Gross profit	403.4	365.8	747.4	718.2
Operating income (loss)	174.1	146.1	310.1	301.5
Income (loss) before income taxes	172.4	144.8	306.6	300.6
Depreciation and amortization	24.3	23.5	49.8	46.2
Capital expenditures	52.3	61.9	98.1	112.9
Operating Segments | North America | United States
Segment information [Abstract]
Net sales	946.2	890.3
Operating Segments | North America | All Other
Segment information [Abstract]
Net sales	70.6	74.4	135.3	141.5
Operating Segments | International
Segment information [Abstract]
Total assets	1,214.6		1,214.6		1,181.5
Total property, plant and equipment, net	92.3		92.3		87.3
Operating lease assets	156.6		156.6		154.1
Net sales	252.9	246.3	541.4	554.4
Gross profit	138.9	130.7	294.8	301.1
Operating income (loss)	33.9	35.8	78.1	102.6
Income (loss) before income taxes	32.7	34.7	75.7	101.1
Depreciation and amortization	6.4	5.9	12.9	11.9
Capital expenditures	6.8	6.8	11.5	14.6
Operating Segments | International | United States
Segment information [Abstract]
Net sales	0	0	0	0
Operating Segments | International | All Other
Segment information [Abstract]
Net sales	252.9	246.3	541.4	554.4
Corporate
Segment information [Abstract]
Total assets	1,187		1,187		1,077.1
Total property, plant and equipment, net	31.4		31.4		31.7
Operating lease assets	3.3		3.3		3.7
Operating income (loss)	(49.2)	(38)	(86.1)	(71.6)
Income (loss) before income taxes	(79.7)	(60)	(146.5)	(113.2)
Depreciation and amortization	15.3	14.6	27.9	30.1
Capital expenditures	1.5	1.2	3.1	2.7
Inter-segment eliminations
Segment information [Abstract]
Total assets	(2,997.3)		(2,997.3)		$ (3,060.5)
Net sales	(0.7)	(0.9)	(1)	(1.6)
Inter-segment eliminations | North America
Segment information [Abstract]
Net sales	0.3	0.4	0.6	0.9
Inter-segment royalty expense (income)	9.3	2.4	16.7	9.4
Inter-segment eliminations | International
Segment information [Abstract]
Net sales	0.4	0.5	0.4	0.7
Inter-segment royalty expense (income)	$ (9.3)	$ (2.4)	$ (16.7)	$ (9.4)