Leggett & Platt (LEG) 10-Q 7 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Aug. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-07845
Entity Registrant Name	LEGGETT & PLATT, INC
Entity Incorporation, State or Country Code	MO
Entity Tax Identification Number	44-0324630
Entity Address, Address Line One	1 Leggett Road
Entity Address, City or Town	Carthage,
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	64836
City Area Code	417
Local Phone Number	358-8131
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	LEG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Small Business Entity	false
Emerging Growth Entity	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		134,166,312
Entity Central Index Key	0000058492
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current Assets
Cash and cash equivalents	$ 307	$ 365.5
Trade receivables, net	593	564.9
Other receivables, net	55.7	72.4
Inventories	755.4	819.7
Prepaid expenses and other current assets	77.5	58.9
Total current assets	1,788.6	1,881.4
Property, Plant and Equipment—at cost
Machinery and equipment	1,467.8	1,488.3
Buildings and other	812.1	820.3
Land	41.1	42.8
Total property, plant and equipment	2,321	2,351.4
Less accumulated depreciation	1,564.4	1,570.2
Net property, plant and equipment	756.6	781.2
Other Assets
Goodwill	804.1	1,489.8
Other intangibles, net	156.1	167.5
Operating lease right-of-use assets	192.2	193.2
Sundry	141.2	121.4
Total other assets	1,293.6	1,971.9
TOTAL ASSETS	3,838.8	4,634.5
Current Liabilities
Short-term debt and current maturities of long-term debt	301	308
Current portion of operating lease liabilities	57.1	57.3
Accounts payable	521.8	536.2
Accrued expenses	239.7	256.8
Other current liabilities	48.3	104.3
Total current liabilities	1,167.9	1,262.6
Long-term Liabilities
Long-term debt	1,702.1	1,679.6
Operating lease liabilities	148.7	150.5
Other long-term liabilities	90.4	106.6
Deferred income taxes	61.4	101.2
Total long-term liabilities	2,002.6	2,037.9
Commitments and Contingencies
Equity
Common stock	2	2
Additional contributed capital	571.8	575.8
Retained earnings	2,019.3	2,661.1
Accumulated other comprehensive loss	(87)	(43.7)
Treasury stock	(1,838.5)	(1,861.9)
Total Leggett & Platt, Inc. equity	667.6	1,333.3
Noncontrolling interest	0.7	0.7
Total equity	668.3	1,334
TOTAL LIABILITIES AND EQUITY	$ 3,838.8	$ 4,634.5

Consolidated Condensed Statemen

Consolidated Condensed Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net trade sales	$ 1,128.6	$ 1,221.2	$ 2,225.5	$ 2,434.8
Cost of goods sold	942.1	1,000.1	1,852.6	1,995.1
Gross profit	186.5	221.1	372.9	439.7
Selling and administrative expenses	131.5	119.2	257.4	235.2
Amortization of intangibles	4.7	16.8	9.6	33.7
Impairments	675.6	0	677.9	0
Net gain on disposal of assets	(6.8)	(3.3)	(17)	(3.6)
Other (income) expense, net	(4.2)	(7.3)	(3.7)	(10.6)
Earnings (loss) before interest and income taxes	(614.3)	95.7	(551.3)	185
Interest expense	22.4	23.1	44	45.2
Interest income	2.4	1.1	3.4	2.2
Earnings (loss) before income taxes	(634.3)	73.7	(591.9)	142
Income taxes	(32.2)	19.5	(21.4)	34.3
Net earnings (loss)	(602.1)	54.2	(570.5)	107.7
(Earnings) attributable to noncontrolling interest, net of tax	(0.1)	0	(0.1)	0
Net earnings (loss) attributable to Leggett & Platt, Inc. common shareholders	$ (602.2)	$ 54.2	$ (570.6)	$ 107.7
Net earnings (loss) per share attributable to Leggett & Platt, Inc. common shareholders
Basic (in usd per share)	$ (4.39)	$ 0.40	$ (4.16)	$ 0.79
Diluted (in usd per share)	$ (4.39)	$ 0.40	$ (4.16)	$ 0.79
Weighted average shares outstanding
Basic (in shares)	137.3	136.2	137	136.1
Diluted (in shares)	137.3	136.6	137	136.4

Consolidated Condensed Statem_2

Consolidated Condensed Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Net earnings (loss)	$ (602.1)	$ 54.2	$ (570.5)	$ 107.7
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(17.4)	4.2	(40.9)	22.9
Cash flow hedges	(1.4)	(1)	(2.9)	1.7
Defined benefit pension plans	0.2	0.1	0.4	0.3
Other comprehensive income (loss), net of tax	(18.6)	3.3	(43.4)	24.9
Comprehensive income (loss)	(620.7)	57.5	(613.9)	132.6
Add: comprehensive income attributable to noncontrolling interest	0	0	0	0.1
Comprehensive income (loss) attributable to Leggett & Platt, Inc.	$ (620.7)	$ 57.5	$ (613.9)	$ 132.7

Consolidated Condensed Statem_3

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Operating Activities
Net earnings (loss)	$ (570.5)	$ 107.7
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	55.9	54.2
Amortization of intangibles and supply agreements	9.6	35.9
Long-lived asset impairment	2.6	0
Goodwill impairment	675.3	0
Increase (decrease) in provision for losses on accounts and notes receivable	8.3	(2.1)
Write-down of inventories	21.6	5.4
Net gain on disposal of assets	(17)	(3.6)
Deferred income tax benefit	(45)	(7.1)
Stock-based compensation	17.8	16.5
Other, net	(8.3)	8.2
Changes in working capital, excluding effects from acquisitions and divestitures:
Accounts and other receivables	(41)	(27.4)
Inventories	35.1	49.6
Other current assets	(2.9)	(6.9)
Accounts payable	(7.5)	(8.9)
Accrued expenses and other current liabilities	(46.1)	(14.2)
Net Cash Provided by Operating Activities	87.9	207.3
Investing Activities
Additions to property, plant and equipment	(41.4)	(68.2)
Proceeds from disposals of assets	23.2	5.3
Other, net	(0.4)	0.3
Net Cash Used for Investing Activities	(18.6)	(62.6)
Financing Activities
Payments on long-term debt	(0.1)	(1.1)
Change in commercial paper and short-term debt	12	(60.6)
Dividends paid	(123)	(116.9)
Purchases of common stock	(4.3)	(5.3)
Other, net	(1.7)	(1)
Net Cash Used for Financing Activities	(117.1)	(184.9)
Effect of Exchange Rate Changes on Cash	(10.7)	(3.9)
Decrease in Cash and Cash Equivalents	(58.5)	(44.1)
Cash and Cash Equivalents—January 1,	365.5	316.5
Cash and Cash Equivalents—June 30,	$ 307	$ 272.4

Consolidated Condensed Statem_4

Consolidated Condensed Statements of Changes in Equity - USD ($) $ in Millions	Total	Common Stock & Additional Contributed Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Noncontrolling Interest
Beginning balance at Dec. 31, 2022	$ 1,641.4	$ 570.5	$ 3,046	$ (93.5)	$ (1,882.3)	$ 0.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	107.7		107.7
Dividends declared	(119.7)	2.8	(122.5)
Treasury stock purchased	(5.3)				(5.3)
Treasury stock issued	3.4	(17.3)			20.7
Other comprehensive income (loss), net of tax (See Note L)	24.9			25		(0.1)
Stock-based compensation transactions, net of tax	16.2	16.2
Ending balance at Jun. 30, 2023	1,668.6	572.2	3,031.2	(68.5)	(1,866.9)	0.6
Beginning balance at Mar. 31, 2023	1,667.1	567.9	3,039.6	(71.8)	(1,869.2)	0.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	54.2		54.2
Dividends declared	(61.2)	1.4	(62.6)
Treasury stock purchased	(0.1)				(0.1)
Treasury stock issued	1.4	(1)			2.4
Other comprehensive income (loss), net of tax (See Note L)	3.3			3.3
Stock-based compensation transactions, net of tax	3.9	3.9
Ending balance at Jun. 30, 2023	1,668.6	572.2	3,031.2	(68.5)	(1,866.9)	0.6
Beginning balance at Dec. 31, 2023	1,334	577.8	2,661.1	(43.7)	(1,861.9)	0.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(570.5)		(570.6)			0.1
Dividends declared	(68.2)	3	(71.2)
Treasury stock purchased	(4.3)				(4.3)
Treasury stock issued	3.2	(24.5)			27.7
Other comprehensive income (loss), net of tax (See Note L)	(43.4)			(43.3)		(0.1)
Stock-based compensation transactions, net of tax	17.5	17.5
Ending balance at Jun. 30, 2024	668.3	573.8	2,019.3	(87)	(1,838.5)	0.7
Beginning balance at Mar. 31, 2024	1,289.5	571	2,629.6	(68.5)	(1,843.3)	0.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings (loss)	(602.1)		(602.2)			0.1
Dividends declared	(6.6)	1.5	(8.1)
Treasury stock purchased	(0.2)				(0.2)
Treasury stock issued	1.1	(3.9)			5
Other comprehensive income (loss), net of tax (See Note L)	(18.6)			(18.5)		(0.1)
Stock-based compensation transactions, net of tax	5.2	5.2
Ending balance at Jun. 30, 2024	$ 668.3	$ 573.8	$ 2,019.3	$ (87)	$ (1,838.5)	$ 0.7

Interim Presentation

Interim Presentation	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interim Presentation	Interim Presentation The interim financial statements of Leggett & Platt, Incorporated (we, us, or our) included herein have not been audited by an independent registered public accounting firm. The statements include all adjustments, including normal recurring accruals, which management considers necessary for a fair statement of our financial position and operating results for the periods presented. We have prepared the statements pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted pursuant to such rules and regulations. The operating results for interim periods are not necessarily indicative of results to be expected for an entire year. The December 31, 2023 financial position data included herein was derived from the audited consolidated financial statements, but does not include all disclosures required by GAAP. Accounts Receivable and Accounts Payable Programs We participate in trade receivables sales programs in combination with third-party banking institutions and certain customers. Under each of these programs, we sell our entire interest in the trade receivable for 100% of face value, less a discount. Because control of the sold receivable is transferred to the buyer at the time of sale, accounts receivable balances sold are removed from the Consolidated Condensed Balance Sheets and the related proceeds are reported as cash provided by operating activities in the Consolidated Condensed Statements of Cash Flows. We had approximately $50.0 and $60.0 of trade receivables that were sold and removed from our balance sheets at June 30, 2024 and December 31, 2023, respectively. We sometimes utilize third-party programs that allow our suppliers to be paid earlier at a discount or for a fee. While these programs assist us in negotiating payment terms with our suppliers, we continue to make payments based on our customary terms. A supplier can elect to take payment from a third party earlier with a discount, and in that case, we pay the third party on the original due date of the invoice. Contracts with our suppliers are negotiated independently of supplier participation in the programs, and we cannot increase payment terms pursuant to the programs. The accounts payable associated with the third-party programs, which remain on our Consolidated Condensed Balance Sheets, were approximately $100.0 at June 30, 2024 and $105.0 at December 31, 2023, respectively. The above items encompass multiple individual programs that are utilized as tools in our cash flow management, and we offer them as options to facilitate customer and vendor operating cycles. Because many of these programs operate independently, and a cessation of all these programs at the same time is not reasonably likely, we do not expect changes in these programs to have a material impact on our operating cash flows or liquidity. New Accounting Guidance The Financial Accounting Standards Board (FASB) regularly issues updates to the FASB Accounting Standards Codification that are communicated through issuance of an Accounting Standards Update (ASU). Below is a summary of the ASUs effective for future periods that are most relevant to our financial statements: Not yet adopted • ASU 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”: This ASU requires additional disclosures about reportable segments' expenses and other items on an interim and annual basis. This guidance will be effective for annual periods beginning January 1, 2024, and interim periods beginning January 1, 2025. We are currently evaluating the impact of adopting this guidance. • ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”: This ASU requires disclosure of specific categories in the rate reconciliation and income taxes paid disaggregated by jurisdiction. This guidance will be effective for annual periods beginning January 1, 2025. We are currently evaluating the impact of adopting this guidance. The FASB has issued accounting guidance, in addition to the issuances discussed above, effective for current and future periods. This guidance did not have a material impact on our current financial statements, and we do not believe it will have a material impact on our future financial statements.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue by Product Family We disaggregate revenue by customer group, which is the same as our product families for each of our segments, as we believe this best depicts how the nature, amount, timing, and uncertainty of our revenue and cash flows are affected by economic factors. For information on our segment structure, see Note C . Six Months Ended June 30, Three Months Ended June 30, 2024 2023 2024 2023 Bedding Products Bedding Group $ 886.0 $ 1,032.9 $ 438.0 $ 504.4 Specialized Products Automotive Group 424.9 433.8 214.0 219.5 Aerospace Products Group 93.1 76.0 47.5 38.1 Hydraulic Cylinders Group 117.5 132.1 58.1 63.6 635.5 641.9 319.6 321.2 Furniture, Flooring & Textile Products Home Furniture Group 141.9 154.4 69.7 74.1 Work Furniture Group 139.3 139.8 69.2 69.2 Flooring & Textile Products Group 422.8 465.8 232.1 252.3 704.0 760.0 371.0 395.6 $ 2,225.5 $ 2,434.8 $ 1,128.6 $ 1,221.2

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information We have three operating segments that supply a wide range of products: • Bedding Products: This segment supplies a variety of components and machinery used by bedding manufacturers in the production and assembly of their finished products, as well as produces private label finished mattresses and adjustable bed bases. This segment is also vertically integrated into the production and supply of specialty foam chemicals, steel rod, and drawn steel wire to our own operations and to external customers. We also supply steel rod and wire to trade customers that operate in a broad range of markets. • Specialized Products: From this segment, we supply lumbar support systems, seat suspension systems, motors and actuators, and control cables used by automotive manufacturers. We also produce and distribute tubing and tube assemblies for the aerospace industry and engineered hydraulic cylinders used in the material-handling and heavy construction industries. • Furniture, Flooring & Textile Products: Operations in this segment supply a wide range of components for residential and work furniture manufacturers, as well as select lines of private label finished furniture. We also produce or distribute carpet cushion, hard surface flooring underlayment, and textile and geo components. Our reportable segments are the same as our operating segments, which also correspond with our management organizational structure. Our Bedding Products and Furniture, Flooring & Textile Products segments have an executive vice president who has accountability to, and maintains regular contact with, our CEO, who is the chief operating decision maker (CODM). With the retirement of our Specialized Products segment executive vice president in April 2024, our CEO became acting segment manager on a temporary basis for this segment until a permanent replacement is named. The operating results and financial information reported through the segment structure are regularly reviewed and used by the CODM to evaluate segment performance, allocate overall resources, and determine management incentive compensation. The accounting principles used in the preparation of the segment information are the same as those used for the consolidated financial statements. We evaluate performance based on Earnings Before Interest and Taxes (EBIT). Intersegment sales are made primarily at prices that approximate market-based selling prices. Centrally incurred costs are allocated to the segments based on estimates of services used by the segment. Certain of our general and administrative costs and miscellaneous corporate income and expenses are allocated to the segments based on sales or other appropriate metrics. These allocated corporate costs include depreciation and other costs and income related to assets that are not allocated or otherwise included in the segment assets. A summary of segment results is shown in the following tables: Trade 1 Sales Inter- Total EBIT Depreciation and Amortization Three Months Ended June 30, 2024 Bedding Products 2,3 $ 438.0 $ 6.5 $ 444.5 $ (591.8) $ 14.3 Specialized Products 2 319.6 1.3 320.9 (9.5) 10.3 Furniture, Flooring & Textile Products 2 371.0 3.0 374.0 (9.4) 5.5 Intersegment eliminations and other 4 (3.6) 2.5 $ 1,128.6 $ 10.8 $ 1,139.4 $ (614.3) $ 32.6 Three Months Ended June 30, 2023 Bedding Products $ 504.4 $ 8.5 $ 512.9 $ 23.0 $ 25.5 Specialized Products 321.2 .5 321.7 33.1 10.3 Furniture, Flooring & Textile Products 395.6 3.4 399.0 38.9 5.7 Intersegment eliminations and other 4 .7 3.2 $ 1,221.2 $ 12.4 $ 1,233.6 $ 95.7 $ 44.7 Trade 1 Sales Inter- Total EBIT Depreciation and Amortization Six Months Ended June 30, 2024 Bedding Products 2,3 $ 886.0 $ 12.9 $ 898.9 $ (576.1) $ 28.9 Specialized Products 2 635.5 1.7 637.2 14.2 20.4 Furniture, Flooring & Textile Products 2 704.0 5.5 709.5 14.2 10.8 Intersegment eliminations and other 4 (3.6) 5.4 $ 2,225.5 $ 20.1 $ 2,245.6 $ (551.3) $ 65.5 Six Months Ended June 30, 2023 Bedding Products $ 1,032.9 $ 18.1 $ 1,051.0 $ 56.3 $ 51.1 Specialized Products 641.9 .9 642.8 61.8 21.0 Furniture, Flooring & Textile Products 760.0 6.5 766.5 67.2 11.5 Intersegment eliminations and other 4 (.3) 6.5 $ 2,434.8 $ 25.5 $ 2,460.3 $ 185.0 $ 90.1 1 See Note B for revenue by product family. 2 EBIT for the three and six months ended June 30, 2024 includes $675.3 of goodwill impairments as discussed in Note F . 3 The lower amortization expense in the three and six months ended June 30, 2024, is due to the fourth quarter 2023 long-lived asset impairment. 4 Depreciation and Amortization: Other relates to non-operating assets (assets not included in segment assets) and is allocated to segment EBIT as discussed above. Average assets for our segments are shown in the table below and reflect the basis for return measures used by management to evaluate segment performance. These segment totals include the average of both working capital (all current assets and current liabilities) plus net property, plant and equipment. Average Assets by Segment June 30, 2024 December 31, 2023 Bedding Products $ 773.7 $ 815.2 Specialized Products 396.7 398.6 Furniture, Flooring & Textile Products 354.3 390.3 Average current liabilities included in segment numbers above 689.1 736.1 Unallocated assets 1 1,678.8 2,403.2 Difference between average assets and period-end balance sheet (53.8) (108.9) Total assets $ 3,838.8 $ 4,634.5 1 Unallocated assets consist primarily of goodwill, other intangibles, cash, and deferred tax assets. The June 30, 2024 unallocated assets reflects the $675.3 goodwill impairment as discussed in Note F .

Earnings (Loss) Per Share (EPS)

Earnings (Loss) Per Share (EPS)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings (Loss) Per Share (EPS)	Earnings (Loss) Per Share (EPS) Basic and diluted earnings (loss) per share were calculated as follows: Six Months Ended Three Months Ended 2024 2023 2024 2023 Net earnings (loss) Net earnings (loss) $ (570.5) $ 107.7 $ (602.1) $ 54.2 Earnings attributable to noncontrolling interest, net of tax (.1) — (.1) — Net earnings (loss) attributable to Leggett & Platt, Inc. common shareholders $ (570.6) $ 107.7 $ (602.2) $ 54.2 Weighted average number of shares (in millions) Weighted average number of common shares used in basic EPS 137.0 136.1 137.3 136.2 Dilutive effect of stock-based compensation — .3 — .4 Weighted average number of common shares and dilutive potential common shares used in diluted EPS 137.0 136.4 137.3 136.6 Basic and diluted EPS Basic EPS attributable to Leggett & Platt common shareholders $ (4.16) $ .79 $ (4.39) $ .40 Diluted EPS attributable to Leggett & Platt common shareholders $ (4.16) $ .79 $ (4.39) $ .40 Other information Anti-dilutive shares excluded from diluted EPS computation .5 .5 .5 .5 Cash dividends declared per share $ .51 $ .90 $ .05 $ .46

Restructuring and Related Activ

Restructuring and Related Activities	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring and Impairments	Restructuring and Related Activities In the first quarter of 2024, we committed to a restructuring plan, primarily associated with our Bedding Products segment and, to a lesser extent, our Furniture, Flooring & Textile Products segment (the “Restructuring Plan” or “Plan”), which is expected to be substantially complete by the end of 2025. The Plan was expanded in the second quarter of 2024 to include a small restructuring opportunity within the Specialized Products segment. Over the course of the restructuring timeline, we plan to consolidate between 15 and 20 production and distribution facilities (out of 50) in the Bedding Products segment and a small number of production facilities in the Furniture, Flooring & Textile Products segment. Our total costs for this Plan are expected to be between $65.0 and $85.0, of which $40.0 to $50.0 are anticipated to be incurred in 2024 and the remainder in 2025. As of June 30, 2024, we have incurred costs of $22.0. The following table presents information associated with this Plan: Total Amount Expected to be Incurred Six Months Ended Three Months Ended Net restructuring and restructuring-related $40.0 to $55.0 $ 19.4 $ 10.9 Impairment costs associated with this plan (See Note F ) 25.0 to 30.0 2.6 .3 $65.0 to $85.0 $ 22.0 $ 11.2 Amount of total that represents net cash charges $30.0 to $40.0 $ 15.6 $ 9.4 The table below presents all restructuring and restructuring-related activity related to the Plan. We had no material restructuring activity in 2023. Six Months Ended Three Months Ended Restructuring costs charged to other (income) expense, net: Termination benefits, relocation, and other restructuring costs $ 11.7 $ 6.0 Restructuring-related costs (gains): Presented in cost of goods sold: Inventory obsolescence and other 3.8 1.5 Presented in selling and administrative expenses: Professional services and other 5.4 4.9 Presented in net gain on disposal of assets: Gain on sale of equipment (1.5) (1.5) Total restructuring-related costs 7.7 4.9 Total net restructuring and restructuring-related costs $ 19.4 $ 10.9 Amount of total that represents net cash charges $ 15.6 $ 9.4 Net restructuring and restructuring-related charges by segment were as follows: Six Months Ended Three Months Ended Bedding Products $ 16.6 $ 9.6 Specialized Products 1.3 1.3 Furniture, Flooring & Textile Products 1.5 — Total net restructuring and restructuring-related costs $ 19.4 $ 10.9 Restructuring Liability The accrued liability associated with the Plan consisted of the following: Balance at December 31, 2023 Add: 2024 Charges Less: 2024 Payments Balance at June 30, 2024 Termination benefits $ — $ 5.6 $ 2.6 $ 3.0 Relocation and other restructuring costs — 6.1 5.1 1.0 Total $ — $ 11.7 $ 7.7 $ 4.0

Impairment Charges

Impairment Charges	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Impairment Charges	Impairment Charges Pretax impairment charges are reported in “Impairments” in the Consolidated Statements of Operations and are summarized in the following table: Six Months Ended Three Months Ended Goodwill Impairment Other Long-Lived Assets Impairments Total Impairments Goodwill Impairment Other Long-Lived Assets Impairments Total Impairments Bedding Products $ 587.2 $ 2.6 $ 589.8 $ 587.2 $ .3 $ 587.5 Specialized Products 43.6 — 43.6 43.6 — 43.6 Furniture, Flooring & Textile Products 44.5 — 44.5 44.5 — 44.5 Total impairment charges $ 675.3 $ 2.6 $ 677.9 $ 675.3 $ .3 $ 675.6 There were no impairment charges in the three and six months ended June 30, 2023. Goodwill Impairment Testing We test goodwill for impairment at the reporting unit level (the business groups that are one level below the operating segments) when triggering events occur, or at least annually. We perform our annual goodwill impairment testing in the second quarter. The 2023 goodwill impairment testing indicated no impairments. The 2024 annual goodwill impairment testing resulted in a $675.3 non-cash goodwill impairment charge related to the following reporting units: Reporting Unit Segment Three and Six Months Ended Bedding Bedding Products $ 587.2 Work Furniture Furniture, Flooring & Textile Products 44.5 Hydraulic Cylinders Specialized Products 43.6 $ 675.3 In general, the fair values for our reporting units have decreased versus prior year due to macroeconomic pressures, including low demand, particularly in residential end markets. The fair values of our reporting units are reconciled to our consolidated market capitalization, which decreased due to the significant decline in stock price during the second quarter of 2024. Our closing stock price per share was $26.17 on December 29, 2023, $19.15 on March 28, 2024, and $11.46 on June 28, 2024. The impairment was concluded in connection with the preparation of the second quarter financial statements. If actual results differ materially from estimates used in our calculations, we could incur future impairment charges. The fair values of our reporting units in relation to their respective carrying values and significant assumptions used are presented in the tables below. The 2024 information excludes Hydraulic Cylinders, as this unit had no goodwill remaining after the second quarter 2024 impairment. 2024 Fair Value over Carrying Value divided by Carrying Value June 30, 2024 Goodwill Value Compound Annual Growth Rate (CAGR) Terminal Values Long-term Growth Rate for Debt-Free Cash Flow Discount Rate Ranges Less than 50% 1 $ 435.7 (1)% - 12% 3 % 14% - 17% 101% - 300% 368.4 3 - 7 3 14 $ 804.1 (1)% - 12% 3 % 14% - 17% 2023 Fair Value over Carrying Value divided by Carrying Value December 31, 2023 Goodwill Value CAGR Range for Sales Terminal Values Long-term Growth Rate for Debt-Free Cash Flow Discount Rate Ranges Less than 50% 1 $ 1,018.1 1% - 17% 3 % 10-12% 50% - 100% 99.6 <1 3 8 101% - 300% 372.1 3 - 6 3 8-10 $ 1,489.8 <1% - 17% 3 % 8% - 12% 1 This category includes three reporting units (Bedding, Aerospace, and Work Furniture) for 2024 and the Bedding, Aerospace, and Hydraulic Cylinders units for 2023. • The fair value of our Bedding reporting unit was less than its carrying value at our second quarter 2024 testing date, resulting in a partial goodwill impairment as discussed above. Fair value exceeded carrying value by 40% at our second quarter 2023 testing date. There was a triggering event in the fourth quarter of 2023 for this reporting unit due to certain customers' efforts to improve their financial position by moving their business to or exploring alternate suppliers. Accordingly, we performed a goodwill impairment test at that time, which indicated no goodwill impairments, but fair value in excess of carrying value had decreased to 19%. Goodwill associated with this reporting unit was $314.5 at June 30, 2024 and $906.5 at December 31, 2023. • The fair value of our Aerospace reporting unit exceeded its carrying value by 21% at our second quarter 2024 testing date as compared to 44% in 2023. Goodwill associated with this reporting unit was $66.9 at June 30, 2024 and $67.0 at December 31, 2023. • The fair value of our Work Furniture reporting unit was less than its carrying value at our second quarter 2024 testing date, resulting in a partial goodwill impairment, as discussed above. Fair value exceeded carrying value by 74% at our second quarter 2023 testing date. Goodwill associated with this reporting unit was $54.3 at June 30, 2024 and $99.6 at December 31, 2023. • The fair value of our Hydraulic Cylinders reporting unit was less than its carrying value at our second quarter 2024 testing date, resulting in a full goodwill impairment, as discussed above. Fair value exceeded carrying value by 18% at our second quarter 2023 testing date. Goodwill associated with this reporting unit was $44.6 at December 31, 2023. Other long-lived assets We review material intangibles mid-year and other long-lived assets for recoverability at year end and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. All long-lived asset impairment charges for the three and six months ended June 30, 2024 were related to the Restructuring Plan. For details, please see Note E .

Accounts and Other Receivables

Accounts and Other Receivables	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Accounts and Other Receivables	Accounts and Other Receivables Accounts and other receivables consisted of the following: June 30, 2024 December 31, 2023 Current Long-term Current Long-term Total trade receivables $ 610.5 $ — $ 575.4 $ — Allowance for doubtful accounts - trade receivables (17.5) — (10.5) — Trade receivables, net $ 593.0 $ — $ 564.9 $ — Taxes receivable, including income taxes 4.0 — 3.1 — Value-added taxes (VAT) recoverable 1 40.0 11.5 56.6 — Other receivables 11.7 4.8 12.7 1.2 Other receivables, net $ 55.7 $ 16.3 $ 72.4 $ 1.2 1 This includes recoverable amounts from various countries, including Mexico, where we have experienced VAT refund delays from the Mexican government. We believe these are fully collectible, and our recent discussions with the government have resulted in an updated timeline for resolution. As a result, we have classified $11.5 as long-term as of June 30, 2024. The aggregate of current and long-term balances of Mexico VAT recoverable was $41.0 and $48.2 at June 30, 2024 and December 31, 2023, respectively. Activity related to the allowance for doubtful accounts is reflected below: Balance at December 31, 2023 Change in Less: Net Balance at June 30, 2024 Total allowance for doubtful accounts on $ 10.5 $ 8.3 $ 1.3 $ 17.5

Inventories

Inventories	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories The following table recaps the components of inventory for each period presented: June 30, December 31, Finished goods $ 332.0 $ 361.3 Work in process 78.0 73.5 Raw materials and supplies 345.4 384.9 Inventories $ 755.4 $ 819.7 All inventories are stated at the lower of cost or net realizable value. For the majority of our inventories, we use the first-in, first-out method, which is representative of our standard costs (includes materials, labor, and production overhead at normal production capacity). Remaining inventories are valued using an average-cost method. Inventories are reviewed at least quarterly for slow-moving and potentially obsolete items using actual inventory turnover and, if necessary, are written down to estimated net realizable value.

Credit Facility Amendment

Credit Facility Amendment	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Credit Facility Amendment	Credit Facility Amendment Effective March 22, 2024, we amended our credit facility to change the Leverage Ratio. The prior Leverage Ratio covenant required us to maintain, as of the last day of each quarter, or when we borrow under the credit facility, a Leverage Ratio of consolidated funded indebtedness to trailing 12-month consolidated EBITDA (each as defined in the credit facility) of not greater than 3.50 to 1.00. Under the amendment, the Leverage Ratio covenant was increased from 3.50 to 1.00 to 4.00 to 1.00 for each quarter-end beginning March 31, 2024 and ending June 30, 2025. The Leverage Ratio covenant will revert to 3.50 to 1.00 for the quarter ending September 30, 2025 and thereafter until maturity. Also, the provision permitting a temporary increase in the maximum Leverage Ratio in the event of a Material Acquisition will not apply unless the acquisition occurs after June 30, 2025. The maturity date of September 30, 2026 remains unchanged. At June 30, 2024, we were in compliance with all of its debt covenants and expect to be able to maintain compliance with the amended debt covenant requirements.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The following table recaps the impact of stock-based compensation on the results of operations for each of the periods presented: Six Months Ended Six Months Ended To be settled with stock To be settled in cash To be settled with stock To be settled in cash Executive Stock Unit (ESU) Program matching contributions $ 1.6 $ .3 $ 1.8 $ .3 Discounts on various stock awards 1.8 — 1.8 — Performance Stock Unit awards .2 (.7) 1.9 .8 Restricted Stock Unit awards 9.2 — 6.1 — Other, primarily non-employee directors restricted stock 1.1 — .9 — Total stock-based compensation expense (income) 13.9 $ (.4) 12.5 $ 1.1 Employee contributions for above stock plans 3.9 4.0 Total stock-based compensation $ 17.8 $ 16.5 Tax benefits on stock-based compensation expense $ 3.4 $ 3.0 Tax (expense)/benefits on stock-based compensation payments (1.2) .3 Total tax benefits associated with stock-based compensation $ 2.2 $ 3.3 Three Months Ended Three Months Ended June 30, 2024 June 30, 2023 To be settled with stock To be settled in cash To be settled with stock To be settled in cash Executive Stock Unit (ESU) Program matching contributions $ 1.0 $ .1 $ 1.1 $ .2 Discounts on various stock awards .9 — 1.1 — Performance Stock Unit awards .4 (.2) .8 .1 Restricted Stock Unit awards 2.9 — .8 — Other, primarily non-employee directors restricted stock .7 — .5 — Total stock-based compensation expense (income) 5.9 $ (.1) 4.3 $ .3 Employee contributions for above stock plans 1.9 2.5 Total stock-based compensation $ 7.8 $ 6.8 Tax benefits on stock-based compensation expense $ 1.4 $ 1.0 Tax (expense)/benefits on stock-based compensation (.4) — Total tax benefits associated with stock-based compensation $ 1.0 $ 1.0

Other (income) expense, net

Other (income) expense, net	6 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Other (income) expense, net	Other (income) expense, net The components of "Other (income) expense, net" were as follows: Six Months Ended Three Months Ended 2024 2023 2024 2023 Restructuring charges $ 11.7 $ .2 $ 6.0 $ .1 Currency (gain) loss (2.6) 1.3 (1.7) (.7) (Gain) loss from diversified investments associated with ESU Program (3.8) (4.6) (.9) (2.1) Reduction to contingent purchase price liability (6.4) (8.8) (4.4) (5.0) Non-service pension income (.8) (.1) (.4) — Other (income) expense (1.8) 1.4 (2.8) .4 $ (3.7) $ (10.6) $ (4.2) $ (7.3)

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The following tables set forth the components of and changes in each component of accumulated other comprehensive income (loss) for each of the periods presented: Three Months Ended June 30, Foreign Currency Cash Flow Defined Benefit Accumulated Other Balance, April 1, 2024 $ (66.1) $ 11.0 $ (13.4) $ (68.5) Other comprehensive income (loss) (17.4) (.7) — (18.1) Reclassifications, pretax — (.8) .2 (.6) Income tax effect — .1 — .1 Attributable to noncontrolling interest .1 — — .1 Balance, June 30, 2024 $ (83.4) $ 9.6 $ (13.2) $ (87.0) Balance, April 1, 2023 $ (64.7) $ 11.1 $ (18.2) $ (71.8) Other comprehensive income (loss) 4.2 (1.8) (.4) 2.0 Reclassifications, pretax — .8 .5 1.3 Balance, June 30, 2023 $ (60.5) $ 10.1 $ (18.1) $ (68.5) Six Months Ended June 30, Foreign Currency Cash Flow Defined Benefit Accumulated Other Balance, January 1, 2024 $ (42.6) $ 12.5 $ (13.6) $ (43.7) Other comprehensive income (loss) (40.9) (1.5) — (42.4) Reclassifications, pretax — (1.9) .5 (1.4) Income tax effect — .5 (.1) .4 Attributable to noncontrolling interest .1 — — .1 Balance, June 30, 2024 $ (83.4) $ 9.6 $ (13.2) $ (87.0) Balance, January 1, 2023 $ (83.5) $ 8.4 $ (18.4) $ (93.5) Other comprehensive income (loss) 22.9 .8 (.5) 23.2 Reclassifications, pretax — 1.4 .9 2.3 Income tax effect — (.5) (.1) (.6) Attributable to noncontrolling interest .1 — — .1 Balance, June 30, 2023 $ (60.5) $ 10.1 $ (18.1) $ (68.5)

Fair Value

Fair Value	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE	Fair Value We utilize fair value measures for both financial and non-financial assets and liabilities. Items measured at fair value on a recurring basis Fair value measurements are established using a three-level valuation hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into the following categories: • Level 1: Quoted prices for identical assets or liabilities in active markets. • Level 2: Inputs, other than quoted prices included in Level 1, that are observable for the asset or liability either directly or indirectly. Short-term investments in this category are valued using discounted cash flow techniques with all significant inputs derived from or supported by observable market data. Derivative assets and liabilities in this category are valued using models that consider various assumptions and information from market-corroborated sources. The models used are primarily industry-standard models that consider items such as quoted prices, market interest rate curves applicable to the instruments being valued as of the end of each period, discounted cash flows, volatility factors, current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace, can be derived from observable data, or are supported by observable levels at which transactions are executed in the marketplace. • Level 3: Unobservable inputs that are not corroborated by market data. The areas in which we utilize fair value measures of financial assets and liabilities are presented in the table below. As of June 30, 2024 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Bank time deposits with original maturities of three months or less $ — $ 152.5 $ — $ 152.5 Derivative assets ( Note N ) — 3.1 — 3.1 Diversified investments associated with the ESU Program 53.6 — — 53.6 Total assets $ 53.6 $ 155.6 $ — $ 209.2 Liabilities: Derivative liabilities ( Note N ) $ — $ 3.0 $ — $ 3.0 Liabilities associated with the ESU Program 54.2 — — 54.2 Total liabilities $ 54.2 $ 3.0 $ — $ 57.2 As of December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Bank time deposits with original maturities of three months or less $ — $ 147.5 $ — $ 147.5 Derivative assets ( Note N ) — 6.2 — 6.2 Diversified investments associated with the ESU Program 50.4 — — 50.4 Total assets $ 50.4 $ 153.7 $ — $ 204.1 Liabilities: Derivative liabilities ( Note N ) $ — $ 3.5 $ — $ 3.5 Liabilities associated with the ESU Program 52.4 — — 52.4 Total liabilities $ 52.4 $ 3.5 $ — $ 55.9 There were no transfers between Level 1 and Level 2 for any of the periods presented. The fair value for fixed rate debt (Level 1) was approximately $250.0 less than carrying value of $1,787.4 at June 30, 2024 and was approximately $175.0 less than carrying value of $1,786.4 at December 31, 2023. Items measured at fair value on a non-recurring basis

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	Derivative Financial Instruments The following table presents assets and liabilities representing the fair value of our most significant derivative financial instruments. The fair values of the derivatives reflect the change in the market value of the derivative from the date of the trade execution and do not consider the offsetting underlying hedged item. Expiring at various dates through: Total USD As of June 30, 2024 Derivatives Assets Liabilities Other Sundry Other Other Long-Term Liabilities Designated as hedging instruments Total cash flow hedges-currency hedges Dec 2025 $ 285.8 $ 2.5 $ .3 $ 2.4 $ .3 Total fair value hedges Oct 2024 38.1 .1 — .1 — Not designated as hedging instruments Jun 2025 130.4 .2 — .2 — Total derivatives $ 2.8 $ .3 $ 2.7 $ .3 Expiring at various dates through: Total USD As of December 31, 2023 Derivatives Assets Liabilities Other Sundry Other Other Long-Term Liabilities Designated as hedging instruments Total cash flow hedges-currency hedges Jun 2025 $ 298.2 $ 5.3 $ .5 $ 2.4 $ .2 Total fair value hedges Mar 2024 21.7 .3 — — — Not designated as hedging instruments Dec 2024 87.9 .1 — .9 — Total derivatives $ 5.7 $ .5 $ 3.3 $ .2 The following table sets forth the pretax (gains) losses for our hedging activities for the periods presented. This schedule includes reclassifications from accumulated other comprehensive income (see Note L ) as well as derivative settlements recorded directly to income or expense. Derivatives Income Statement Caption Amount of (Gain) Loss Amount of (Gain) Loss 2024 2023 2024 2023 Designated as hedging instruments Interest rate cash flow hedges Interest expense $ (.2) $ (.2) $ (.1) $ (.1) Currency cash flow hedges Net trade sales .7 1.6 .6 .9 Currency cash flow hedges Cost of goods sold (1.1) (1.3) (.6) (.6) Total cash flow hedges (.6) .1 (.1) .2 Fair value hedges Other (income) expense, net .5 .6 .3 (1.5) Not designated as hedging instruments Other (income) expense, net (1.9) 3.5 (.8) 3.5 Total derivative instruments $ (2.0) $ 4.2 $ (.6) $ 2.2

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies We are a party to various proceedings and matters involving employment, intellectual property, environmental, taxation, vehicle-related personal injury, antitrust, and other laws. When it is probable, in management's judgment, that we may incur monetary damages or other costs resulting from these proceedings or other claims, and we can reasonably estimate the amounts, we record appropriate accruals in the financial statements and make charges against earnings. For all periods presented, we have recorded no material charges against earnings. Also, when it is reasonably possible that we may incur additional loss in excess of recorded accruals, and we can reasonably estimate the additional losses or range of losses, we disclose such additional reasonably possible losses in these notes. Accruals and Reasonably Possible Losses in Excess of Accruals Accruals for Probable Losses Although we deny liability in all currently threatened or pending litigation proceedings, we have recorded a litigation contingency accrual for our reasonable estimate of probable loss, in the aggregate, of $1.7 and $1.4 at June 30, 2024 and December 31, 2023, respectively. There were no material adjustments to the accrual, including cash payments and expense, for the three and six-month periods ending June 30, 2024 and June 30, 2023. The accruals do not include accrued expenses related to workers' compensation, vehicle-related personal injury, product and general liability claims, taxation issues, and environmental matters, some of which may contain a portion of litigation expense. However, any litigation expense associated with these categories is not anticipated to have a material effect on our financial condition, results of operations, or cash flows. Reasonably Possible Losses in Excess of Accruals Although there are a number of uncertainties and potential outcomes associated with our pending or threatened litigation proceedings, we believe, based on current known facts, that additional losses, if any, are not expected to materially affect our consolidated financial position, results of operations, or cash flows. However, based upon current known facts, as of June 30, 2024, aggregate reasonably possible (but not probable, and therefore, not accrued) losses in excess of the accruals noted above are estimated to be $14.0 . I

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net earnings (loss) attributable to Leggett & Platt, Inc. common shareholders	$ (602.2)	$ 54.2	$ (570.6)	$ 107.7

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
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

Interim Presentation (Policies)

Interim Presentation (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interim Presentation	The interim financial statements of Leggett & Platt, Incorporated (we, us, or our) included herein have not been audited by an independent registered public accounting firm. The statements include all adjustments, including normal recurring accruals, which management considers necessary for a fair statement of our financial position and operating results for the periods presented. We have prepared the statements pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted pursuant to such rules and regulations. The operating results for interim periods are not necessarily indicative of results to be expected for an entire year.
Accounts Receivable	Accounts Receivable and Accounts Payable Programs We participate in trade receivables sales programs in combination with third-party banking institutions and certain customers. Under each of these programs, we sell our entire interest in the trade receivable for 100% of face value, less a discount. Because control of the sold receivable is transferred to the buyer at the time of sale, accounts receivable balances sold are removed from the Consolidated Condensed Balance Sheets and the related proceeds are reported as cash provided by operating activities in the Consolidated Condensed Statements of Cash Flows. We had approximately $50.0 and $60.0 of trade receivables that were sold and removed from our balance sheets at June 30, 2024 and December 31, 2023, respectively. We sometimes utilize third-party programs that allow our suppliers to be paid earlier at a discount or for a fee. While these programs assist us in negotiating payment terms with our suppliers, we continue to make payments based on our customary terms. A supplier can elect to take payment from a third party earlier with a discount, and in that case, we pay the third party on the original due date of the invoice. Contracts with our suppliers are negotiated independently of supplier participation in the programs, and we cannot increase payment terms pursuant to the programs. The accounts payable associated with the third-party programs, which remain on our Consolidated Condensed Balance Sheets, were approximately $100.0 at June 30, 2024 and $105.0 at December 31, 2023, respectively. The above items encompass multiple individual programs that are utilized as tools in our cash flow management, and we offer them as options to facilitate customer and vendor operating cycles. Because many of these programs operate independently, and a cessation of all these programs at the same time is not reasonably likely, we do not expect changes in these programs to have a material impact on our operating cash flows or liquidity.
Accounts Payable Programs	Accounts Receivable and Accounts Payable Programs We participate in trade receivables sales programs in combination with third-party banking institutions and certain customers. Under each of these programs, we sell our entire interest in the trade receivable for 100% of face value, less a discount. Because control of the sold receivable is transferred to the buyer at the time of sale, accounts receivable balances sold are removed from the Consolidated Condensed Balance Sheets and the related proceeds are reported as cash provided by operating activities in the Consolidated Condensed Statements of Cash Flows. We had approximately $50.0 and $60.0 of trade receivables that were sold and removed from our balance sheets at June 30, 2024 and December 31, 2023, respectively. We sometimes utilize third-party programs that allow our suppliers to be paid earlier at a discount or for a fee. While these programs assist us in negotiating payment terms with our suppliers, we continue to make payments based on our customary terms. A supplier can elect to take payment from a third party earlier with a discount, and in that case, we pay the third party on the original due date of the invoice. Contracts with our suppliers are negotiated independently of supplier participation in the programs, and we cannot increase payment terms pursuant to the programs. The accounts payable associated with the third-party programs, which remain on our Consolidated Condensed Balance Sheets, were approximately $100.0 at June 30, 2024 and $105.0 at December 31, 2023, respectively. The above items encompass multiple individual programs that are utilized as tools in our cash flow management, and we offer them as options to facilitate customer and vendor operating cycles. Because many of these programs operate independently, and a cessation of all these programs at the same time is not reasonably likely, we do not expect changes in these programs to have a material impact on our operating cash flows or liquidity.
New Accounting Guidance	New Accounting Guidance The Financial Accounting Standards Board (FASB) regularly issues updates to the FASB Accounting Standards Codification that are communicated through issuance of an Accounting Standards Update (ASU). Below is a summary of the ASUs effective for future periods that are most relevant to our financial statements: Not yet adopted • ASU 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures”: This ASU requires additional disclosures about reportable segments' expenses and other items on an interim and annual basis. This guidance will be effective for annual periods beginning January 1, 2024, and interim periods beginning January 1, 2025. We are currently evaluating the impact of adopting this guidance. • ASU 2023-09 “Income Taxes (Topic 740): Improvements to Income Tax Disclosures”: This ASU requires disclosure of specific categories in the rate reconciliation and income taxes paid disaggregated by jurisdiction. This guidance will be effective for annual periods beginning January 1, 2025. We are currently evaluating the impact of adopting this guidance. The FASB has issued accounting guidance, in addition to the issuances discussed above, effective for current and future periods. This guidance did not have a material impact on our current financial statements, and we do not believe it will have a material impact on our future financial statements.
Revenue	Revenue by Product Family

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Summary of Disaggregation of Revenue by Major Source	We disaggregate revenue by customer group, which is the same as our product families for each of our segments, as we believe this best depicts how the nature, amount, timing, and uncertainty of our revenue and cash flows are affected by economic factors. For information on our segment structure, see Note C . Six Months Ended June 30, Three Months Ended June 30, 2024 2023 2024 2023 Bedding Products Bedding Group $ 886.0 $ 1,032.9 $ 438.0 $ 504.4 Specialized Products Automotive Group 424.9 433.8 214.0 219.5 Aerospace Products Group 93.1 76.0 47.5 38.1 Hydraulic Cylinders Group 117.5 132.1 58.1 63.6 635.5 641.9 319.6 321.2 Furniture, Flooring & Textile Products Home Furniture Group 141.9 154.4 69.7 74.1 Work Furniture Group 139.3 139.8 69.2 69.2 Flooring & Textile Products Group 422.8 465.8 232.1 252.3 704.0 760.0 371.0 395.6 $ 2,225.5 $ 2,434.8 $ 1,128.6 $ 1,221.2

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Summary of Segment Results from Continuing Operations	A summary of segment results is shown in the following tables: Trade 1 Sales Inter- Total EBIT Depreciation and Amortization Three Months Ended June 30, 2024 Bedding Products 2,3 $ 438.0 $ 6.5 $ 444.5 $ (591.8) $ 14.3 Specialized Products 2 319.6 1.3 320.9 (9.5) 10.3 Furniture, Flooring & Textile Products 2 371.0 3.0 374.0 (9.4) 5.5 Intersegment eliminations and other 4 (3.6) 2.5 $ 1,128.6 $ 10.8 $ 1,139.4 $ (614.3) $ 32.6 Three Months Ended June 30, 2023 Bedding Products $ 504.4 $ 8.5 $ 512.9 $ 23.0 $ 25.5 Specialized Products 321.2 .5 321.7 33.1 10.3 Furniture, Flooring & Textile Products 395.6 3.4 399.0 38.9 5.7 Intersegment eliminations and other 4 .7 3.2 $ 1,221.2 $ 12.4 $ 1,233.6 $ 95.7 $ 44.7 Trade 1 Sales Inter- Total EBIT Depreciation and Amortization Six Months Ended June 30, 2024 Bedding Products 2,3 $ 886.0 $ 12.9 $ 898.9 $ (576.1) $ 28.9 Specialized Products 2 635.5 1.7 637.2 14.2 20.4 Furniture, Flooring & Textile Products 2 704.0 5.5 709.5 14.2 10.8 Intersegment eliminations and other 4 (3.6) 5.4 $ 2,225.5 $ 20.1 $ 2,245.6 $ (551.3) $ 65.5 Six Months Ended June 30, 2023 Bedding Products $ 1,032.9 $ 18.1 $ 1,051.0 $ 56.3 $ 51.1 Specialized Products 641.9 .9 642.8 61.8 21.0 Furniture, Flooring & Textile Products 760.0 6.5 766.5 67.2 11.5 Intersegment eliminations and other 4 (.3) 6.5 $ 2,434.8 $ 25.5 $ 2,460.3 $ 185.0 $ 90.1 1 See Note B for revenue by product family. 2 EBIT for the three and six months ended June 30, 2024 includes $675.3 of goodwill impairments as discussed in Note F . 3 The lower amortization expense in the three and six months ended June 30, 2024, is due to the fourth quarter 2023 long-lived asset impairment. 4 Depreciation and Amortization: Other relates to non-operating assets (assets not included in segment assets) and is allocated to segment EBIT as discussed above.
Summary of Average Assets for Segments	Average assets for our segments are shown in the table below and reflect the basis for return measures used by management to evaluate segment performance. These segment totals include the average of both working capital (all current assets and current liabilities) plus net property, plant and equipment. Average Assets by Segment June 30, 2024 December 31, 2023 Bedding Products $ 773.7 $ 815.2 Specialized Products 396.7 398.6 Furniture, Flooring & Textile Products 354.3 390.3 Average current liabilities included in segment numbers above 689.1 736.1 Unallocated assets 1 1,678.8 2,403.2 Difference between average assets and period-end balance sheet (53.8) (108.9) Total assets $ 3,838.8 $ 4,634.5 1 Unallocated assets consist primarily of goodwill, other intangibles, cash, and deferred tax assets. The June 30, 2024 unallocated assets reflects the $675.3 goodwill impairment as discussed in Note F .

Earnings (Loss) Per Share (EP_2

Earnings (Loss) Per Share (EPS) (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Summary of Calculation of Basic and Diluted Earnings Per Share	Basic and diluted earnings (loss) per share were calculated as follows: Six Months Ended Three Months Ended 2024 2023 2024 2023 Net earnings (loss) Net earnings (loss) $ (570.5) $ 107.7 $ (602.1) $ 54.2 Earnings attributable to noncontrolling interest, net of tax (.1) — (.1) — Net earnings (loss) attributable to Leggett & Platt, Inc. common shareholders $ (570.6) $ 107.7 $ (602.2) $ 54.2 Weighted average number of shares (in millions) Weighted average number of common shares used in basic EPS 137.0 136.1 137.3 136.2 Dilutive effect of stock-based compensation — .3 — .4 Weighted average number of common shares and dilutive potential common shares used in diluted EPS 137.0 136.4 137.3 136.6 Basic and diluted EPS Basic EPS attributable to Leggett & Platt common shareholders $ (4.16) $ .79 $ (4.39) $ .40 Diluted EPS attributable to Leggett & Platt common shareholders $ (4.16) $ .79 $ (4.39) $ .40 Other information Anti-dilutive shares excluded from diluted EPS computation .5 .5 .5 .5 Cash dividends declared per share $ .51 $ .90 $ .05 $ .46

Restructuring and Related Act_2

Restructuring and Related Activities (Tables)	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Summary Of Restructuring-Related Costs	The following table presents information associated with this Plan: Total Amount Expected to be Incurred Six Months Ended Three Months Ended Net restructuring and restructuring-related $40.0 to $55.0 $ 19.4 $ 10.9 Impairment costs associated with this plan (See Note F ) 25.0 to 30.0 2.6 .3 $65.0 to $85.0 $ 22.0 $ 11.2 Amount of total that represents net cash charges $30.0 to $40.0 $ 15.6 $ 9.4 The table below presents all restructuring and restructuring-related activity related to the Plan. We had no material restructuring activity in 2023. Six Months Ended Three Months Ended Restructuring costs charged to other (income) expense, net: Termination benefits, relocation, and other restructuring costs $ 11.7 $ 6.0 Restructuring-related costs (gains): Presented in cost of goods sold: Inventory obsolescence and other 3.8 1.5 Presented in selling and administrative expenses: Professional services and other 5.4 4.9 Presented in net gain on disposal of assets: Gain on sale of equipment (1.5) (1.5) Total restructuring-related costs 7.7 4.9 Total net restructuring and restructuring-related costs $ 19.4 $ 10.9 Amount of total that represents net cash charges $ 15.6 $ 9.4 Net restructuring and restructuring-related charges by segment were as follows: Six Months Ended Three Months Ended Bedding Products $ 16.6 $ 9.6 Specialized Products 1.3 1.3 Furniture, Flooring & Textile Products 1.5 — Total net restructuring and restructuring-related costs $ 19.4 $ 10.9 Restructuring Liability The accrued liability associated with the Plan consisted of the following: Balance at December 31, 2023 Add: 2024 Charges Less: 2024 Payments Balance at June 30, 2024 Termination benefits $ — $ 5.6 $ 2.6 $ 3.0 Relocation and other restructuring costs — 6.1 5.1 1.0 Total $ — $ 11.7 $ 7.7 $ 4.0

Impairment Charges (Tables)

Impairment Charges (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	Pretax impairment charges are reported in “Impairments” in the Consolidated Statements of Operations and are summarized in the following table: Six Months Ended Three Months Ended Goodwill Impairment Other Long-Lived Assets Impairments Total Impairments Goodwill Impairment Other Long-Lived Assets Impairments Total Impairments Bedding Products $ 587.2 $ 2.6 $ 589.8 $ 587.2 $ .3 $ 587.5 Specialized Products 43.6 — 43.6 43.6 — 43.6 Furniture, Flooring & Textile Products 44.5 — 44.5 44.5 — 44.5 Total impairment charges $ 675.3 $ 2.6 $ 677.9 $ 675.3 $ .3 $ 675.6
Summary of Changes In The Carrying Amounts Of Goodwill	The 2024 annual goodwill impairment testing resulted in a $675.3 non-cash goodwill impairment charge related to the following reporting units: Reporting Unit Segment Three and Six Months Ended Bedding Bedding Products $ 587.2 Work Furniture Furniture, Flooring & Textile Products 44.5 Hydraulic Cylinders Specialized Products 43.6 $ 675.3 2024 Fair Value over Carrying Value divided by Carrying Value June 30, 2024 Goodwill Value Compound Annual Growth Rate (CAGR) Terminal Values Long-term Growth Rate for Debt-Free Cash Flow Discount Rate Ranges Less than 50% 1 $ 435.7 (1)% - 12% 3 % 14% - 17% 101% - 300% 368.4 3 - 7 3 14 $ 804.1 (1)% - 12% 3 % 14% - 17% 2023 Fair Value over Carrying Value divided by Carrying Value December 31, 2023 Goodwill Value CAGR Range for Sales Terminal Values Long-term Growth Rate for Debt-Free Cash Flow Discount Rate Ranges Less than 50% 1 $ 1,018.1 1% - 17% 3 % 10-12% 50% - 100% 99.6 <1 3 8 101% - 300% 372.1 3 - 6 3 8-10 $ 1,489.8 <1% - 17% 3 % 8% - 12% 1 This category includes three reporting units (Bedding, Aerospace, and Work Furniture) for 2024 and the Bedding, Aerospace, and Hydraulic Cylinders units for 2023. • The fair value of our Bedding reporting unit was less than its carrying value at our second quarter 2024 testing date, resulting in a partial goodwill impairment as discussed above. Fair value exceeded carrying value by 40% at our second quarter 2023 testing date. There was a triggering event in the fourth quarter of 2023 for this reporting unit due to certain customers' efforts to improve their financial position by moving their business to or exploring alternate suppliers. Accordingly, we performed a goodwill impairment test at that time, which indicated no goodwill impairments, but fair value in excess of carrying value had decreased to 19%. Goodwill associated with this reporting unit was $314.5 at June 30, 2024 and $906.5 at December 31, 2023. • The fair value of our Aerospace reporting unit exceeded its carrying value by 21% at our second quarter 2024 testing date as compared to 44% in 2023. Goodwill associated with this reporting unit was $66.9 at June 30, 2024 and $67.0 at December 31, 2023. • The fair value of our Work Furniture reporting unit was less than its carrying value at our second quarter 2024 testing date, resulting in a partial goodwill impairment, as discussed above. Fair value exceeded carrying value by 74% at our second quarter 2023 testing date. Goodwill associated with this reporting unit was $54.3 at June 30, 2024 and $99.6 at December 31, 2023. • The fair value of our Hydraulic Cylinders reporting unit was less than its carrying value at our second quarter 2024 testing date, resulting in a full goodwill impairment, as discussed above. Fair value exceeded carrying value by 18% at our second quarter 2023 testing date. Goodwill associated with this reporting unit was $44.6 at December 31, 2023.

Accounts and Other Receivables

Accounts and Other Receivables (Tables)	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Summary of Components of Accounts and Other Receivables	Accounts and other receivables consisted of the following: June 30, 2024 December 31, 2023 Current Long-term Current Long-term Total trade receivables $ 610.5 $ — $ 575.4 $ — Allowance for doubtful accounts - trade receivables (17.5) — (10.5) — Trade receivables, net $ 593.0 $ — $ 564.9 $ — Taxes receivable, including income taxes 4.0 — 3.1 — Value-added taxes (VAT) recoverable 1 40.0 11.5 56.6 — Other receivables 11.7 4.8 12.7 1.2 Other receivables, net $ 55.7 $ 16.3 $ 72.4 $ 1.2 1 This includes recoverable amounts from various countries, including Mexico, where we have experienced VAT refund delays from the Mexican government. We believe these are fully collectible, and our recent discussions with the government have resulted in an updated timeline for resolution. As a result, we have classified $11.5 as long-term as of June 30, 2024. The aggregate of current and long-term balances of Mexico VAT recoverable was $41.0 and $48.2 at June 30, 2024 and December 31, 2023, respectively.
Summary of Allowance for Doubtful Accounts	Activity related to the allowance for doubtful accounts is reflected below: Balance at December 31, 2023 Change in Less: Net Balance at June 30, 2024 Total allowance for doubtful accounts on $ 10.5 $ 8.3 $ 1.3 $ 17.5

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Summary of Inventory	The following table recaps the components of inventory for each period presented: June 30, December 31, Finished goods $ 332.0 $ 361.3 Work in process 78.0 73.5 Raw materials and supplies 345.4 384.9 Inventories $ 755.4 $ 819.7

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Summary of Components of Stock-Based and Stock-Related Compensation	The following table recaps the impact of stock-based compensation on the results of operations for each of the periods presented: Six Months Ended Six Months Ended To be settled with stock To be settled in cash To be settled with stock To be settled in cash Executive Stock Unit (ESU) Program matching contributions $ 1.6 $ .3 $ 1.8 $ .3 Discounts on various stock awards 1.8 — 1.8 — Performance Stock Unit awards .2 (.7) 1.9 .8 Restricted Stock Unit awards 9.2 — 6.1 — Other, primarily non-employee directors restricted stock 1.1 — .9 — Total stock-based compensation expense (income) 13.9 $ (.4) 12.5 $ 1.1 Employee contributions for above stock plans 3.9 4.0 Total stock-based compensation $ 17.8 $ 16.5 Tax benefits on stock-based compensation expense $ 3.4 $ 3.0 Tax (expense)/benefits on stock-based compensation payments (1.2) .3 Total tax benefits associated with stock-based compensation $ 2.2 $ 3.3 Three Months Ended Three Months Ended June 30, 2024 June 30, 2023 To be settled with stock To be settled in cash To be settled with stock To be settled in cash Executive Stock Unit (ESU) Program matching contributions $ 1.0 $ .1 $ 1.1 $ .2 Discounts on various stock awards .9 — 1.1 — Performance Stock Unit awards .4 (.2) .8 .1 Restricted Stock Unit awards 2.9 — .8 — Other, primarily non-employee directors restricted stock .7 — .5 — Total stock-based compensation expense (income) 5.9 $ (.1) 4.3 $ .3 Employee contributions for above stock plans 1.9 2.5 Total stock-based compensation $ 7.8 $ 6.8 Tax benefits on stock-based compensation expense $ 1.4 $ 1.0 Tax (expense)/benefits on stock-based compensation (.4) — Total tax benefits associated with stock-based compensation $ 1.0 $ 1.0

Other (income) expense, net (Ta

Other (income) expense, net (Tables)	6 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Schedule of Components of Other (income) expense, net	The components of "Other (income) expense, net" were as follows: Six Months Ended Three Months Ended 2024 2023 2024 2023 Restructuring charges $ 11.7 $ .2 $ 6.0 $ .1 Currency (gain) loss (2.6) 1.3 (1.7) (.7) (Gain) loss from diversified investments associated with ESU Program (3.8) (4.6) (.9) (2.1) Reduction to contingent purchase price liability (6.4) (8.8) (4.4) (5.0) Non-service pension income (.8) (.1) (.4) — Other (income) expense (1.8) 1.4 (2.8) .4 $ (3.7) $ (10.6) $ (4.2) $ (7.3)

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Summary of Changes in Each Component of Accumulated Other Comprehensive Income (Loss)	The following tables set forth the components of and changes in each component of accumulated other comprehensive income (loss) for each of the periods presented: Three Months Ended June 30, Foreign Currency Cash Flow Defined Benefit Accumulated Other Balance, April 1, 2024 $ (66.1) $ 11.0 $ (13.4) $ (68.5) Other comprehensive income (loss) (17.4) (.7) — (18.1) Reclassifications, pretax — (.8) .2 (.6) Income tax effect — .1 — .1 Attributable to noncontrolling interest .1 — — .1 Balance, June 30, 2024 $ (83.4) $ 9.6 $ (13.2) $ (87.0) Balance, April 1, 2023 $ (64.7) $ 11.1 $ (18.2) $ (71.8) Other comprehensive income (loss) 4.2 (1.8) (.4) 2.0 Reclassifications, pretax — .8 .5 1.3 Balance, June 30, 2023 $ (60.5) $ 10.1 $ (18.1) $ (68.5) Six Months Ended June 30, Foreign Currency Cash Flow Defined Benefit Accumulated Other Balance, January 1, 2024 $ (42.6) $ 12.5 $ (13.6) $ (43.7) Other comprehensive income (loss) (40.9) (1.5) — (42.4) Reclassifications, pretax — (1.9) .5 (1.4) Income tax effect — .5 (.1) .4 Attributable to noncontrolling interest .1 — — .1 Balance, June 30, 2024 $ (83.4) $ 9.6 $ (13.2) $ (87.0) Balance, January 1, 2023 $ (83.5) $ 8.4 $ (18.4) $ (93.5) Other comprehensive income (loss) 22.9 .8 (.5) 23.2 Reclassifications, pretax — 1.4 .9 2.3 Income tax effect — (.5) (.1) (.6) Attributable to noncontrolling interest .1 — — .1 Balance, June 30, 2023 $ (60.5) $ 10.1 $ (18.1) $ (68.5)

Fair Value (Tables)

Fair Value (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Summary of Components of Fair Value Measurements of Financial Assets and Liabilities	The areas in which we utilize fair value measures of financial assets and liabilities are presented in the table below. As of June 30, 2024 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Bank time deposits with original maturities of three months or less $ — $ 152.5 $ — $ 152.5 Derivative assets ( Note N ) — 3.1 — 3.1 Diversified investments associated with the ESU Program 53.6 — — 53.6 Total assets $ 53.6 $ 155.6 $ — $ 209.2 Liabilities: Derivative liabilities ( Note N ) $ — $ 3.0 $ — $ 3.0 Liabilities associated with the ESU Program 54.2 — — 54.2 Total liabilities $ 54.2 $ 3.0 $ — $ 57.2 As of December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Bank time deposits with original maturities of three months or less $ — $ 147.5 $ — $ 147.5 Derivative assets ( Note N ) — 6.2 — 6.2 Diversified investments associated with the ESU Program 50.4 — — 50.4 Total assets $ 50.4 $ 153.7 $ — $ 204.1 Liabilities: Derivative liabilities ( Note N ) $ — $ 3.5 $ — $ 3.5 Liabilities associated with the ESU Program 52.4 — — 52.4 Total liabilities $ 52.4 $ 3.5 $ — $ 55.9

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Derivative Financial Instruments at Fair Value	The following table presents assets and liabilities representing the fair value of our most significant derivative financial instruments. The fair values of the derivatives reflect the change in the market value of the derivative from the date of the trade execution and do not consider the offsetting underlying hedged item. Expiring at various dates through: Total USD As of June 30, 2024 Derivatives Assets Liabilities Other Sundry Other Other Long-Term Liabilities Designated as hedging instruments Total cash flow hedges-currency hedges Dec 2025 $ 285.8 $ 2.5 $ .3 $ 2.4 $ .3 Total fair value hedges Oct 2024 38.1 .1 — .1 — Not designated as hedging instruments Jun 2025 130.4 .2 — .2 — Total derivatives $ 2.8 $ .3 $ 2.7 $ .3 Expiring at various dates through: Total USD As of December 31, 2023 Derivatives Assets Liabilities Other Sundry Other Other Long-Term Liabilities Designated as hedging instruments Total cash flow hedges-currency hedges Jun 2025 $ 298.2 $ 5.3 $ .5 $ 2.4 $ .2 Total fair value hedges Mar 2024 21.7 .3 — — — Not designated as hedging instruments Dec 2024 87.9 .1 — .9 — Total derivatives $ 5.7 $ .5 $ 3.3 $ .2
Summary of Pre-Tax (Gains) Losses of Hedging Activities	The following table sets forth the pretax (gains) losses for our hedging activities for the periods presented. This schedule includes reclassifications from accumulated other comprehensive income (see Note L ) as well as derivative settlements recorded directly to income or expense. Derivatives Income Statement Caption Amount of (Gain) Loss Amount of (Gain) Loss 2024 2023 2024 2023 Designated as hedging instruments Interest rate cash flow hedges Interest expense $ (.2) $ (.2) $ (.1) $ (.1) Currency cash flow hedges Net trade sales .7 1.6 .6 .9 Currency cash flow hedges Cost of goods sold (1.1) (1.3) (.6) (.6) Total cash flow hedges (.6) .1 (.1) .2 Fair value hedges Other (income) expense, net .5 .6 .3 (1.5) Not designated as hedging instruments Other (income) expense, net (1.9) 3.5 (.8) 3.5 Total derivative instruments $ (2.0) $ 4.2 $ (.6) $ 2.2

Interim Presentation (Details)

Interim Presentation (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts receivable trade percentage of face value interest sold (as a percent)	100%
Disposal group, including discontinued operation, accounts, notes and loans receivable, net	$ 50	$ 60
Accounts payable third party programs	$ 100	$ 105

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Net trade sales	$ 1,128.6	$ 1,221.2	$ 2,225.5	$ 2,434.8
Bedding Products
Disaggregation of Revenue [Line Items]
Net trade sales	438	504.4	886	1,032.9
Bedding Products | Bedding Group
Disaggregation of Revenue [Line Items]
Net trade sales	438	504.4	886	1,032.9
Specialized Products
Disaggregation of Revenue [Line Items]
Net trade sales	319.6	321.2	635.5	641.9
Specialized Products | Automotive Group
Disaggregation of Revenue [Line Items]
Net trade sales	214	219.5	424.9	433.8
Specialized Products | Aerospace Products Group
Disaggregation of Revenue [Line Items]
Net trade sales	47.5	38.1	93.1	76
Specialized Products | Hydraulic Cylinders
Disaggregation of Revenue [Line Items]
Net trade sales	58.1	63.6	117.5	132.1
Furniture, Flooring & Textile Products
Disaggregation of Revenue [Line Items]
Net trade sales	371	395.6	704	760
Furniture, Flooring & Textile Products | Home Furniture Group
Disaggregation of Revenue [Line Items]
Net trade sales	69.7	74.1	141.9	154.4
Furniture, Flooring & Textile Products | Work Furniture Group
Disaggregation of Revenue [Line Items]
Net trade sales	69.2	69.2	139.3	139.8
Furniture, Flooring & Textile Products | Flooring & Textile Products Group
Disaggregation of Revenue [Line Items]
Net trade sales	$ 232.1	$ 252.3	$ 422.8	$ 465.8

Segment Information - Summary o

Segment Information - Summary of Segment Results from Continuing Operations (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) segment	Jun. 30, 2023 USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment			3
Segment Reporting Information [Line Items]
Net trade sales	$ 1,128.6	$ 1,221.2	$ 2,225.5	$ 2,434.8
EBIT	(614.3)	95.7	(551.3)	185
Depreciation and Amortization	32.6	44.7	65.5	90.1
Goodwill impairment	675.3		675.3	0
Bedding Products
Segment Reporting Information [Line Items]
Net trade sales	438	504.4	886	1,032.9
Goodwill impairment	587.2		587.2
Specialized Products
Segment Reporting Information [Line Items]
Net trade sales	319.6	321.2	635.5	641.9
Goodwill impairment	43.6		43.6
Furniture, Flooring & Textile Products
Segment Reporting Information [Line Items]
Net trade sales	371	395.6	704	760
Trade sales
Segment Reporting Information [Line Items]
Net trade sales	1,139.4	1,233.6	2,245.6	2,460.3
Trade sales | Bedding Products
Segment Reporting Information [Line Items]
Net trade sales	444.5	512.9	898.9	1,051
EBIT	(591.8)	23	(576.1)	56.3
Depreciation and Amortization	14.3	25.5	28.9	51.1
Trade sales | Specialized Products
Segment Reporting Information [Line Items]
Net trade sales	320.9	321.7	637.2	642.8
EBIT	(9.5)	33.1	14.2	61.8
Depreciation and Amortization	10.3	10.3	20.4	21
Trade sales | Furniture, Flooring & Textile Products
Segment Reporting Information [Line Items]
Net trade sales	374	399	709.5	766.5
EBIT	(9.4)	38.9	14.2	67.2
Depreciation and Amortization	5.5	5.7	10.8	11.5
Intersegment eliminations
Segment Reporting Information [Line Items]
Net trade sales	10.8	12.4	20.1	25.5
EBIT	(3.6)	0.7	(3.6)	(0.3)
Depreciation and Amortization	2.5	3.2	5.4	6.5
Intersegment eliminations | Bedding Products
Segment Reporting Information [Line Items]
Net trade sales	6.5	8.5	12.9	18.1
Intersegment eliminations | Specialized Products
Segment Reporting Information [Line Items]
Net trade sales	1.3	0.5	1.7	0.9
Intersegment eliminations | Furniture, Flooring & Textile Products
Segment Reporting Information [Line Items]
Net trade sales	$ 3	$ 3.4	$ 5.5	$ 6.5

Segment Information - Summary_2

Segment Information - Summary of Average Assets for Segments (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Total assets	$ 3,838.8	$ 3,838.8		$ 4,634.5
Goodwill impairment	675.3	675.3	$ 0
Bedding Products
Segment Reporting Information [Line Items]
Goodwill impairment	587.2	587.2
Specialized Products
Segment Reporting Information [Line Items]
Goodwill impairment	43.6	43.6
Operating segments | Bedding Products
Segment Reporting Information [Line Items]
Total assets	773.7	773.7		815.2
Operating segments | Specialized Products
Segment Reporting Information [Line Items]
Total assets	396.7	396.7		398.6
Operating segments | Furniture, Flooring & Textile Products
Segment Reporting Information [Line Items]
Total assets	354.3	354.3		390.3
Average current liabilities included in segment numbers above
Segment Reporting Information [Line Items]
Total assets	689.1	689.1		736.1
Unallocated assets
Segment Reporting Information [Line Items]
Total assets	1,678.8	1,678.8		2,403.2
Difference between average assets and period-end balance sheet
Segment Reporting Information [Line Items]
Total assets	$ (53.8)	$ (53.8)		$ (108.9)

Earnings (Loss) Per Share (EP_3

Earnings (Loss) Per Share (EPS) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net earnings (loss)
Net earnings (loss)	$ (602.1)	$ 54.2	$ (570.5)	$ 107.7
Earnings attributable to noncontrolling interest, net of tax	(0.1)	0	(0.1)	0
Net earnings (loss) attributable to Leggett & Platt, Inc. common shareholders	$ (602.2)	$ 54.2	$ (570.6)	$ 107.7
Weighted average number of shares (in millions)
Weighted average number of common shares used in basic EPS (in shares)	137.3	136.2	137	136.1
Dilutive effect of stock-based compensation (in shares)	0	0.4	0	0.3
Weighted average number of common shares and dilutive potential common shares used in diluted EPS (in shares)	137.3	136.6	137	136.4
Basic and diluted EPS
Basic EPS attributable to Leggett & Platt common shareholders (in usd per share)	$ (4.39)	$ 0.40	$ (4.16)	$ 0.79
Diluted EPS attributable to Leggett & Platt common shareholders (in usd per share)	$ (4.39)	$ 0.40	$ (4.16)	$ 0.79
Other information
Anti-dilutive shares excluded from diluted EPS computation (in shares)	0.5	0.5	0.5	0.5
Cash dividends declared per share (in usd per share)	$ 0.05	$ 0.46	$ 0.51	$ 0.90

Restructuring and Related Act_3

Restructuring and Related Activities - Summary of Incurred Costs (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($) facility	Dec. 31, 2024 USD ($)
Restructuring Cost and Reserve [Line Items]
Total restructuring-related costs	$ 11.2	$ 22
Amount of total that represents net cash charges	9.4	$ 15.6
Bedding Products
Restructuring Cost and Reserve [Line Items]
Number of facilities | facility		50
Net restructuring and restructuring-related
Restructuring Cost and Reserve [Line Items]
Total restructuring-related costs	10.9	$ 19.4
Net restructuring and restructuring-related | Bedding Products
Restructuring Cost and Reserve [Line Items]
Total restructuring-related costs	9.6	16.6
Impairment costs associated with this plan (See Note F)
Restructuring Cost and Reserve [Line Items]
Total restructuring-related costs	0.3	2.6
Minimum
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs	65	65
Amount of total that represents net cash charges		$ 30
Minimum | Forecast
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			$ 40
Minimum | Bedding Products
Restructuring Cost and Reserve [Line Items]
Number of facilities consolidated | facility		15
Minimum | Net restructuring and restructuring-related
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs	40	$ 40
Minimum | Impairment costs associated with this plan (See Note F)
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs	25	25
Maximum
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs	85	85
Amount of total that represents net cash charges		$ 40
Maximum | Forecast
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs			$ 50
Maximum | Bedding Products
Restructuring Cost and Reserve [Line Items]
Number of facilities consolidated | facility		20
Maximum | Net restructuring and restructuring-related
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs	55	$ 55
Maximum | Impairment costs associated with this plan (See Note F)
Restructuring Cost and Reserve [Line Items]
Expected restructuring costs	$ 30	$ 30

Restructuring and Related Act_4

Restructuring and Related Activities - Summary Of Restructuring-Related Costs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Termination benefits, relocation, and other restructuring costs	$ 6	$ 0.1	$ 11.7	$ 0.2
Total restructuring-related costs	11.2		22
Amount of total that represents net cash charges	9.4		15.6
Total Restructuring Related Costs
Restructuring Cost and Reserve [Line Items]
Total restructuring-related costs	4.9		7.7
Net restructuring and restructuring-related
Restructuring Cost and Reserve [Line Items]
Total restructuring-related costs	10.9		19.4
Cost of goods sold | Inventory obsolescence and other
Restructuring Cost and Reserve [Line Items]
Total restructuring-related costs	1.5		3.8
Selling and administrative | Professional services and other
Restructuring Cost and Reserve [Line Items]
Total restructuring-related costs	4.9		5.4
Net gain on disposal of assets | Gain on sale of equipment
Restructuring Cost and Reserve [Line Items]
Total restructuring-related costs	$ (1.5)		$ (1.5)

Restructuring and Related Act_5

Restructuring and Related Activities - Summary of Restructuring-Related Costs by Segment (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Restructuring Cost and Reserve [Line Items]
Total restructuring-related costs	$ 11.2	$ 22
Net restructuring and restructuring-related
Restructuring Cost and Reserve [Line Items]
Total restructuring-related costs	10.9	19.4
Net restructuring and restructuring-related | Bedding Products
Restructuring Cost and Reserve [Line Items]
Total restructuring-related costs	9.6	16.6
Net restructuring and restructuring-related | Specialized Products
Restructuring Cost and Reserve [Line Items]
Total restructuring-related costs	1.3	1.3
Net restructuring and restructuring-related | Furniture, Flooring & Textile Products
Restructuring Cost and Reserve [Line Items]
Total restructuring-related costs	$ 0	$ 1.5

Restructuring and Related Act_6

Restructuring and Related Activities- Summary of Accrued Liability (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 4		$ 4		$ 0
Termination benefits, relocation, and other restructuring costs	6	$ 0.1	11.7	$ 0.2
Amount of total that represents net cash charges			7.7
Termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	3		3		0
Termination benefits, relocation, and other restructuring costs			5.6
Amount of total that represents net cash charges			2.6
Relocation and other restructuring costs
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 1		1		$ 0
Termination benefits, relocation, and other restructuring costs			6.1
Amount of total that represents net cash charges			$ 5.1

Impairment Charges - Schedule o

Impairment Charges - Schedule of Impairment Charges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Schedule Of Asset Impairment Charges [Line Items]
Goodwill impairment	$ 675.3		$ 675.3	$ 0
Other Long-Lived Assets Impairments	0.3		2.6
Total Impairments	675.6	$ 0	677.9	$ 0
Bedding Products
Schedule Of Asset Impairment Charges [Line Items]
Goodwill impairment	587.2		587.2
Other Long-Lived Assets Impairments	0.3		2.6
Total Impairments	587.5		589.8
Specialized Products
Schedule Of Asset Impairment Charges [Line Items]
Goodwill impairment	43.6		43.6
Other Long-Lived Assets Impairments	0		0
Total Impairments	43.6		43.6
Furniture, Flooring & Textile Products
Schedule Of Asset Impairment Charges [Line Items]
Goodwill impairment	44.5		44.5
Other Long-Lived Assets Impairments	0		0
Total Impairments	$ 44.5		$ 44.5

Impairment Charges - Goodwill R

Impairment Charges - Goodwill Reporting Unit Impairment (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023
Goodwill [Line Items]
Goodwill impairment	$ 675.3	$ 675.3	$ 0
Bedding Products
Goodwill [Line Items]
Goodwill impairment	587.2	587.2
Bedding Products | Bedding
Goodwill [Line Items]
Goodwill impairment	587.2	587.2
Furniture, Flooring & Textile Products
Goodwill [Line Items]
Goodwill impairment	44.5	44.5
Furniture, Flooring & Textile Products | Work Furniture
Goodwill [Line Items]
Goodwill impairment	44.5	44.5
Specialized Products
Goodwill [Line Items]
Goodwill impairment	43.6	43.6
Specialized Products | Hydraulic Cylinders
Goodwill [Line Items]
Goodwill impairment	$ 43.6	$ 43.6

Impairment Charges - Summary of

Impairment Charges - Summary of Changes In The Carrying Amounts Of Goodwill (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill value	$ 804.1	$ 1,489.8
Terminal Values Long-term Growth Rate for Debt-Free Cash Flow	3%	3%
Bedding
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill value	$ 314.5	$ 906.5
Percentage of fair value in excess of carrying amount (as a percent)		19%	40%
Aerospace Products
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill value	$ 66.9	$ 67
Percentage of fair value in excess of carrying amount (as a percent)	21%	44%
Work Furniture
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill value	$ 54.3	$ 99.6
Percentage of fair value in excess of carrying amount (as a percent)			74%
Hydraulic Cylinders
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill value		$ 44.6
Percentage of fair value in excess of carrying amount (as a percent)			18%
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Compound annual growth rate range for sales	(1.00%)	1%
Discount rate ranges (as a percent)	14%	8%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Compound annual growth rate range for sales	12%	17%
Discount rate ranges (as a percent)	17%	12%
Less than 50%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value over Carrying Value divided by Carrying Value	50%	50%
Goodwill value	$ 435.7	$ 1,018.1
Terminal Values Long-term Growth Rate for Debt-Free Cash Flow	3%	3%
Less than 50% | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Compound annual growth rate range for sales	(1.00%)	1%
Discount rate ranges (as a percent)	14%	10%
Less than 50% | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Compound annual growth rate range for sales	12%	17%
Discount rate ranges (as a percent)	17%	12%
50% - 100%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill value		$ 99.6
Terminal Values Long-term Growth Rate for Debt-Free Cash Flow		3%
Discount rate ranges (as a percent)		8%
50% - 100% | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value over Carrying Value divided by Carrying Value		50%
Compound annual growth rate range for sales
50% - 100% | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value over Carrying Value divided by Carrying Value		100%
Compound annual growth rate range for sales		1%
101% - 300%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill value	$ 368.4	$ 372.1
Terminal Values Long-term Growth Rate for Debt-Free Cash Flow	3%	3%
101% - 300% | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value over Carrying Value divided by Carrying Value	101%	101%
Compound annual growth rate range for sales	3%	3%
Discount rate ranges (as a percent)		8%
101% - 300% | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value over Carrying Value divided by Carrying Value	300%	300%
Compound annual growth rate range for sales	7%	6%
Discount rate ranges (as a percent)	14%	10%

Impairment Charges - Additional

Impairment Charges - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 28, 2024	Mar. 28, 2024	Dec. 29, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Long-lived asset impairment	$ 675.6	$ 0	$ 677.9	$ 0
Goodwill impairment	$ 675.3		$ 675.3	$ 0
Share price (in dollars per share)					$ 11.46	$ 19.15	$ 26.17

Accounts and Other Receivable_2

Accounts and Other Receivables - Summary of Components of Accounts and Other Receivables (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current
Trade receivables, net	$ 593	$ 564.9
Taxes receivable, including income taxes	4	3.1
Value-added taxes (VAT) recoverable	40	56.6
Other receivables	11.7	12.7
Other receivables, net	55.7	72.4
Long-term
Taxes receivable, including income taxes	0	0
Value-added taxes (VAT) recoverable	11.5	0
Other receivables	4.8	1.2
Other receivables, net	16.3	1.2
Trade accounts receivable
Current
Total trade receivables	610.5	575.4
Allowance for doubtful accounts - trade receivables	(17.5)	(10.5)
Trade receivables, net	593	564.9
Long-term
Total trade receivables	0	0
Allowance for doubtful accounts - trade receivables	0	0
Trade receivables, net	0	0
MEXICO
Long-term
Value-added taxes (VAT) recoverable	11.5
Value-added taxes recoverable	$ 41	$ 48.2

Accounts and Other Receivable_3

Accounts and Other Receivables - Summary of Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 10.5
Change in Provision	8.3	$ (2.1)
Less: Net Charge-offs/ (Recoveries) and Other	1.3
Balance at end of period	$ 17.5

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Finished goods	$ 332	$ 361.3
Work in process	78	73.5
Raw materials and supplies	345.4	384.9
Inventories	$ 755.4	$ 819.7

Credit Facility Amendment (Deta

Credit Facility Amendment (Details) - Line of Credit	Mar. 22, 2024	Mar. 21, 2024
Debt Instrument [Line Items]
Leverage ratio of indebtedness	3.50
Debt Covenant 1
Debt Instrument [Line Items]
Ratio of Indebtedness to EBITDA	4	3.50
Debt Covenant 2
Debt Instrument [Line Items]
Ratio of Indebtedness to EBITDA	3.50

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation			$ 17.8	$ 16.5
Tax benefits on stock-based compensation expense	$ 1	$ 1	2.2	3.3
To be settled with stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense (income)	5.9	4.3	13.9	12.5
Employee contributions for above stock plans	1.9	2.5	3.9	4
Total stock-based compensation	7.8	6.8	17.8	16.5
Tax benefits on stock-based compensation expense	1.4	1	3.4	3
To be settled with stock | Tax (expense)/benefits on stock-based compensation
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefits on stock-based compensation expense	(0.4)	0	(1.2)	0.3
To be settled with stock | Executive Stock Unit (ESU) Program matching contributions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense (income)	1	1.1	1.6	1.8
To be settled with stock | Discounts on various stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense (income)	0.9	1.1	1.8	1.8
To be settled with stock | Performance Stock Unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense (income)	0.4	0.8	0.2	1.9
To be settled with stock | Restricted Stock Unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense (income)	2.9	0.8	9.2	6.1
To be settled with stock | Other, primarily non-employee directors restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense (income)	0.7	0.5	1.1	0.9
To be settled in cash
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense (income)	(0.1)	0.3	(0.4)	1.1
To be settled in cash | Executive Stock Unit (ESU) Program matching contributions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense (income)	0.1	0.2	0.3	0.3
To be settled in cash | Discounts on various stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense (income)	0	0	0	0
To be settled in cash | Performance Stock Unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense (income)	(0.2)	0.1	(0.7)	0.8
To be settled in cash | Restricted Stock Unit awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense (income)	0	0	0	0
To be settled in cash | Other, primarily non-employee directors restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense (income)	$ 0	$ 0	$ 0	$ 0

Other (income) expense, net (De

Other (income) expense, net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Income and Expenses [Abstract]
Restructuring charges	$ 6	$ 0.1	$ 11.7	$ 0.2
Currency (gain) loss	(1.7)	(0.7)	(2.6)	1.3
(Gain) loss from diversified investments associated with ESU Program	(0.9)	(2.1)	(3.8)	(4.6)
Reduction to contingent purchase price liability	(4.4)	(5)	(6.4)	(8.8)
Non-service pension income	(0.4)	0	(0.8)	(0.1)
Other (income) expense	(2.8)	0.4	(1.8)	1.4
Other (income) expense	$ (4.2)	$ (7.3)	$ (3.7)	$ (10.6)

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 1,289.5	$ 1,667.1	$ 1,334	$ 1,641.4
Other comprehensive income (loss)	(18.1)	2	(42.4)	23.2
Reclassifications, pretax	(0.6)	1.3	(1.4)	2.3
Income tax effect	0.1		0.4	(0.6)
Attributable to noncontrolling interest	0.1		0.1	0.1
Ending balance	668.3	1,668.6	668.3	1,668.6
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(68.5)	(71.8)	(43.7)	(93.5)
Ending balance	(87)	(68.5)	(87)	(68.5)
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(66.1)	(64.7)	(42.6)	(83.5)
Other comprehensive income (loss)	(17.4)	4.2	(40.9)	22.9
Reclassifications, pretax	0	0	0	0
Income tax effect	0		0	0
Attributable to noncontrolling interest	0.1		0.1	0.1
Ending balance	(83.4)	(60.5)	(83.4)	(60.5)
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	11	11.1	12.5	8.4
Other comprehensive income (loss)	(0.7)	(1.8)	(1.5)	0.8
Reclassifications, pretax	(0.8)	0.8	(1.9)	1.4
Income tax effect	0.1		0.5	(0.5)
Attributable to noncontrolling interest	0		0	0
Ending balance	9.6	10.1	9.6	10.1
Defined Benefit Pension Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(13.4)	(18.2)	(13.6)	(18.4)
Other comprehensive income (loss)	0	(0.4)	0	(0.5)
Reclassifications, pretax	0.2	0.5	0.5	0.9
Income tax effect	0		(0.1)	(0.1)
Attributable to noncontrolling interest	0		0	0
Ending balance	$ (13.2)	$ (18.1)	$ (13.2)	$ (18.1)

Fair Value - Summary of Compone

Fair Value - Summary of Components of Fair Value Measurements of Financial Assets and Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Cash equivalents:
Derivative asset, statement of financial position [extensible enumeration]	Assets, Current, Sundry	Assets, Current, Sundry
Liabilities:
Derivative liability, statement of financial position [extensible enumeration]	Liabilities, Noncurrent, Other current liabilities	Liabilities, Noncurrent, Other current liabilities
Fair Value, Measurements, Recurring
Cash equivalents:
Derivative assets	$ 3.1	$ 6.2
Total assets	209.2	204.1
Liabilities:
Derivative liabilities	3	3.5
Total liabilities	57.2	55.9
Fair Value, Measurements, Recurring | Diversified investments associated with the ESU program
Cash equivalents:
Diversified investments associated with the ESU Program	53.6	50.4
Fair Value, Measurements, Recurring | Liabilities associated with the ESUP
Liabilities:
Liabilities associated with the ESU Program	54.2	52.4
Fair Value, Measurements, Recurring | Bank time deposits with original maturities of three months or less
Cash equivalents:
Bank time deposits with original maturities of three months or less	152.5	147.5
Fair Value, Measurements, Recurring | Level 1
Cash equivalents:
Derivative assets	0	0
Total assets	53.6	50.4
Liabilities:
Derivative liabilities	0	0
Total liabilities	54.2	52.4
Fair Value, Measurements, Recurring | Level 1 | Diversified investments associated with the ESU program
Cash equivalents:
Diversified investments associated with the ESU Program	53.6	50.4
Fair Value, Measurements, Recurring | Level 1 | Liabilities associated with the ESUP
Liabilities:
Liabilities associated with the ESU Program	54.2	52.4
Fair Value, Measurements, Recurring | Level 1 | Bank time deposits with original maturities of three months or less
Cash equivalents:
Bank time deposits with original maturities of three months or less	0	0
Fair Value, Measurements, Recurring | Level 2
Cash equivalents:
Derivative assets	3.1	6.2
Total assets	155.6	153.7
Liabilities:
Derivative liabilities	3	3.5
Total liabilities	3	3.5
Fair Value, Measurements, Recurring | Level 2 | Diversified investments associated with the ESU program
Cash equivalents:
Diversified investments associated with the ESU Program	0	0
Fair Value, Measurements, Recurring | Level 2 | Liabilities associated with the ESUP
Liabilities:
Liabilities associated with the ESU Program	0	0
Fair Value, Measurements, Recurring | Level 2 | Bank time deposits with original maturities of three months or less
Cash equivalents:
Bank time deposits with original maturities of three months or less	152.5	147.5
Fair Value, Measurements, Recurring | Level 3
Cash equivalents:
Derivative assets	0	0
Total assets	0	0
Liabilities:
Derivative liabilities	0	0
Total liabilities	0	0
Fair Value, Measurements, Recurring | Level 3 | Diversified investments associated with the ESU program
Cash equivalents:
Diversified investments associated with the ESU Program	0	0
Fair Value, Measurements, Recurring | Level 3 | Liabilities associated with the ESUP
Liabilities:
Liabilities associated with the ESU Program	0	0
Fair Value, Measurements, Recurring | Level 3 | Bank time deposits with original maturities of three months or less
Cash equivalents:
Bank time deposits with original maturities of three months or less	$ 0	$ 0

Fair Value - Additional Informa

Fair Value - Additional Information (Details) - Level 1 - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed rate debt	$ 250	$ 175
Reported Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fixed rate debt	$ 1,787.4	$ 1,786.4

Derivative Financial Instrume_3

Derivative Financial Instruments - Summary of Derivative Financial Instruments at Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Assets
Other Current Assets	$ 2.8	$ 5.7
Sundry	0.3	0.5
Liabilities
Other Current Liabilities	2.7	3.3
Other Long-Term Liabilities	0.3	0.2
Designated as Hedging Instrument | Cash flow hedges
Derivatives, Fair Value [Line Items]
Total USD Equivalent Notional Amount	285.8	298.2
Assets
Other Current Assets	2.5	5.3
Sundry	0.3	0.5
Liabilities
Other Current Liabilities	2.4	2.4
Other Long-Term Liabilities	0.3	0.2
Designated as Hedging Instrument | Fair value hedges
Derivatives, Fair Value [Line Items]
Total USD Equivalent Notional Amount	38.1	21.7
Assets
Other Current Assets	0.1	0.3
Sundry	0	0
Liabilities
Other Current Liabilities	0.1	0
Other Long-Term Liabilities	0	0
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total USD Equivalent Notional Amount	130.4	87.9
Assets
Other Current Assets	0.2	0.1
Sundry	0	0
Liabilities
Other Current Liabilities	0.2	0.9
Other Long-Term Liabilities	$ 0	$ 0

Derivative Financial Instrume_4

Derivative Financial Instruments - Summary of Pre-Tax (Gains) Losses of Hedging Activities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss recorded in income	$ (0.6)	$ 2.2	$ (2)	$ 4.2
Designated as Hedging Instrument | Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss recorded in income	(0.1)	0.2	(0.6)	0.1
Designated as Hedging Instrument | Fair value hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss recorded in income	0.3	(1.5)	0.5	0.6
Designated as Hedging Instrument | Interest rate cash flow hedges | Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss recorded in income	(0.1)	(0.1)	(0.2)	(0.2)
Designated as Hedging Instrument | Currency cash flow hedges | Cash flow hedges | Net trade sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss recorded in income	0.6	0.9	0.7	1.6
Designated as Hedging Instrument | Currency cash flow hedges | Cash flow hedges | Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss recorded in income	(0.6)	(0.6)	(1.1)	(1.3)
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss recorded in income	$ (0.8)	$ 3.5	$ (1.9)	$ 3.5

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Accrual	$ 1.7	$ 1.4
Reasonably possible losses in excess of accruals	$ 14