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Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2014

Accounting Policies [Abstract]

Schedule of Inventory, Current

Inventories are stated at the lower of cost or market, determined by the first-in, first-out method, and consist of the following:

(in millions)	June 30,				December 31,
	2014				2013
Finished goods	$	148.6			$	126.7
Work-in-process	12.3				10.0
Raw materials and supplies	59.1				62.5
	$	220.0			$	199.2

Changes in accrued sales returns

The Company had the following activity for sales returns from December 31, 2013 to June 30, 2014:

(in millions)
Balance as of December 31, 2013	$	28.7
Amounts accrued	63.4
Returns charged to accrual	(61.8		)
Balance as of June 30, 2014	$	30.3

Warranty terms

The following summarizes the Company’s warranty terms:

Segment		Product/Brand		Warranty Term   (in years)
Tempur North America		Mattresses		10 - 25, prorated (1)
Tempur North America		Pillows		3
Tempur International		Mattresses		15, prorated (2)
Tempur International		Pillows		3
Sealy		Mattresses		10 - 25, prorated(1)

(1) Products have various warranty terms, generally non-prorated for the first 10 to 15 years and then prorated for the balance of the warranty term.

(2) The last 10 years of warranty period are prorated on a straight-line basis.

Warranty activity

The Company had the following activity for warranties from December 31, 2013 to June 30, 2014:

(in millions)
Balance as of December 31, 2013	$	26.1
Amounts accrued	17.2
Warranties charged to accrual	(13.9		)
Balance as of June 30, 2014	$	29.4

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- Definition

Tabular disclosure of the changes in the reserve for sales returns, including the beginning balance of the liability, the aggregate reductions in that liability for payments made (in cash or in kind) , and the aggregate changes in the liability for accruals related to product returns issued during the reporting period.

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Tabular disclosure of warranty terms provided by the entity based on segment or product.

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- Definition

Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 2

-Paragraph 6

-Subparagraph a,b,c

-Article 5

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Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 460

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6398077&loc=d3e12565-110249

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