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Business Combination (Tables) | 6 Months Ended
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Jun. 30, 2014
Business Combinations [Abstract] |
Components of the preliminary purchase price allocation | The components of the final purchase price allocation are as follows:
(in millions) |  |
Accounts receivable | $ | 185.0 |  |
Inventory | 75.1 |  |
Prepaid expenses and other current assets | 23.4 |  |
Accounts payable | (77.9 | ) |
Accrued expenses | (140.0 | ) |
Property, plant and equipment | 242.1 |  |
Other assets | 32.6 |  |
Identifiable intangible assets: |  |  |
Indefinite-lived trade names | 521.2 |  |
Contractual retailer/distributer relationships | 91.1 |  |
Developed technology, including patents | 87.1 |  |
Customer databases | 3.9 |  |
Optimum™ trade name | 2.3 |  |
Deferred income taxes, net | (231.2 | ) |
Sealy 8.0% Notes | (96.2 | ) |
Redeemable non-controlling interest | (11.3 | ) |
Other liabilities | (77.5 | ) |
Goodwill | 543.2 |  |
Net consideration transferred | $ | 1,172.9 |  |
Business acquisition, pro forma information | The following unaudited pro forma information presents the combined financial results for the Company and Sealy as if the Sealy Acquisition had been completed at the beginning of the Company’s prior year, January 1, 2013. Prior to the Sealy Acquisition, Sealy used a 52-53 week fiscal year ending on the closest Sunday to November 30, but no later than December 2. The pro forma information set forth below for the three months ended June 30, 2013 includes Sealy’s pro forma information for the quarterly periods April 1, 2013 through June 30, 2013. The pro forma financial information set forth below for the six months ended June 30, 2013 includes Sealy’s pro forma information for the combined six month period from December 3, 2012 through March 3, 2013 and April 1, 2013 through June 30, 2013.
(in millions, except earnings per common share) | Six Months Ended |  | Six Months Ended
| June 30, |  | June 30,
| 2014 |  | 2013
Net sales | $ | 1,416.9 |  |  | $ | 1,343.6 |
Net income | $ | 25.2 |  |  | $ | 19.1 |
Earnings per common share – Diluted | $ | 0.41 |  |  | $ | 0.31 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472 + Details
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