Guarantor/Non-Guarantor Financial Information (Tables)

6 Months Ended

Jun. 30, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of supplemental condensed consolidated statements of comprehensive income

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Statements of Operations and Comprehensive Income

Three Months Ended June 30, 2014

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	536.2		$	190.9		$	(12.1	)	$	715.0
Cost of sales	—			357.7			101.1			(12.1		)	446.7
Gross profit	—			178.5			89.8			—			268.3
Selling and marketing expenses	0.4			109.1			45.7			—			155.2
General, administrative and other expenses	1.5			49.4			18.6			—			69.5
Equity income in earnings of unconsolidated affiliates	—			—			(2.1		)	—			(2.1		)
Royalty income, net of royalty expense	—			(4.6		)	—			—			(4.6		)
Operating (loss) income	(1.9		)	24.6			27.6			—			50.3

Other expense, net:
Third party interest expense, net	6.6			15.7			0.7			—			23.0
Intercompany interest expense (income), net	8.2			(8.6		)	0.4			—			—
Interest expense, net	14.8			7.1			1.1			—			23.0
Loss on disposal of business	—			20.4			—			—			20.4
Other (income) expense, net	—			(0.7		)	0.2			—			(0.5		)
Total other expense	14.8			26.8			1.3			—			42.9

Income from equity investees	8.5			20.4			—			(28.9		)	—

(Loss) income before income taxes	(8.2		)	18.2			26.3			(28.9		)	7.4
Income tax benefit (provision)	5.8			(9.7		)	(5.9		)	—			(9.8		)
Net (loss) income	(2.4		)	8.5			20.4			(28.9		)	(2.4		)
Less: net (loss) income attributable to non-controlling interest	(0.2		)	(0.2		)	—			0.2			(0.2		)
Net (loss) income attributable to Tempur Sealy International, Inc.	$	(2.2	)	$	8.7		$	20.4		$	(29.1	)	$	(2.2	)

Comprehensive income attributable to Tempur Sealy International, Inc.	$	0.1		$	10.8		$	22.0		$	(32.8	)	$	0.1

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Statements of Operations and Comprehensive Income

Three Months Ended June 30, 2013

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	478.7		$	186.7		$	(4.8	)	$	660.6
Cost of sales	—			315.8			94.7			(4.8		)	405.7
Gross profit	—			162.9			92.0			—			254.9
Selling and marketing expenses	0.7			100.1			39.0			—			139.8
General, administrative and other expenses	4.6			51.5			20.2			—			76.3
Equity income in earnings of unconsolidated affiliates	—			—			(1.1		)	—			(1.1		)
Royalty income, net of royalty expense	—			(4.1		)	—			—			(4.1		)
Operating (loss) income	(5.3		)	15.4			33.9			—			44.0

Other expense, net:
Third party interest expense, net	9.8			25.3			0.6			—			35.7
Intercompany interest expense (income), net	8.2			(8.5		)	0.3			—			—
Interest expense, net	18.0			16.8			0.9			—			35.7
Other (income) expense, net	—			(0.6		)	2.2			—			1.6
Total other expense	18.0			16.2			3.1			—			37.3

Income from equity investees	13.7			23.1			—			(36.8		)	—

(Loss) income before income taxes	(9.6		)	22.3			30.8			(36.8		)	6.7
Income tax benefit (provision)	7.5			(8.6		)	(7.7		)	—			(8.8		)
Net (loss) income	(2.1		)	13.7			23.1			(36.8		)	(2.1		)
Less: net (loss) income attributable to non-controlling interest	(0.5		)	(0.5		)	—			0.5			(0.5		)
Net (loss) income attributable to Tempur Sealy International, Inc.	$	(1.6	)	$	14.2		$	23.1		$	(37.3	)	$	(1.6	)

Comprehensive (loss) income attributable to Tempur Sealy International, Inc.	$	(7.5	)	$	14.6		$	16.8		$	(31.4	)	$	(7.5	)

Schedule of supplemental condensed consolidated balance sheets

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Balance Sheets

June 30, 2014

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS

Current Assets:
Cash and cash equivalents	$	0.1	$	80.8	$	40.6		$	—		$	121.5
Accounts receivable, net	—		232.3		143.9			—			376.2
Inventories	—		161.2		58.8			—			220.0
Income taxes receivable	133.0		—		—			(133.0		)	—
Prepaid expenses and other current assets	0.7		23.7		30.5			—			54.9
Deferred income taxes	9.4		30.5		5.5			—			45.4
Total Current Assets	143.2		528.5		279.3			(133.0		)	818.0
Property, plant and equipment, net	—		292.8		73.6			—			366.4
Goodwill	—		557.3		184.2			—			741.5
Other intangible assets, net	—		618.7		124.8			—			743.5
Deferred tax asset	—		—		11.0			—			11.0
Other non-current assets	7.0		45.2		19.3			—			71.5
Net investment in subsidiaries	1,756.5		—		—			(1,756.5		)	—
Due from affiliates	63.4		2,008.5		0.6			(2,072.5		)	—
Total Assets	$	1,970.1	$	4,051.0	$	692.8		$	(3,962.0	)	$	2,751.9

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:
Accounts payable	$	—	$	187.6	$	47.6		$	—		$	235.2
Accrued expenses and other current liabilities	1.4		142.0		61.6			—			205.0
Deferred income taxes	—		—		0.9			—			0.9
Income taxes payable	—		146.5		3.8			(133.0		)	17.3
Current portion of long-term debt	—		49.6		3.2			—			52.8
Total Current Liabilities	1.4		525.7		117.1			(133.0		)	511.2
Long-term debt	375.0		1,348.2		—			—			1,723.2
Deferred income taxes	—		235.9		32.5			—			268.4
Other non-current liabilities	—		72.9		8.7			—			81.6
Due to affiliates	1,426.2		111.8		884.4			(2,422.4		)	—
Total Liabilities	1,802.6		2,294.5		1,042.7			(2,555.4		)	2,584.4

Redeemable non-controlling interest	11.6		11.6		—			(11.6		)	11.6

Total Stockholders’ Equity	155.9		1,744.9		(349.9		)	(1,395.0		)	155.9
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	$	1,970.1	$	4,051.0	$	692.8		$	(3,962.0	)	$	2,751.9

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Balance Sheets

December 31, 2013

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS

Current Assets:
Cash and cash equivalents	$	—	$	30.9	$	50.1		$	—		$	81.0
Accounts receivable, net	—		192.6		156.6			—			349.2
Inventories	—		147.5		51.7			—			199.2
Income taxes receivable	118.4		—		—			(118.4		)	—
Prepaid expenses and other current assets	—		26.3		27.4			—			53.7
Deferred income taxes	10.0		29.3		5.1			—			44.4
Total Current Assets	128.4		426.6		290.9			(118.4		)	727.5
Property, plant and equipment, net	—		335.9		75.7			—			411.6
Goodwill	—		577.2		182.4			—			759.6
Other intangible assets, net	—		624.6		125.5			—			750.1
Deferred tax asset	—		—		10.9			—			10.9
Other non-current assets	7.6		47.0		15.6			—			70.2
Net investment in subsidiaries	756.0		—		—			(756.0		)	—
Due from affiliates	1,299.9		2,306.5		0.9			(3,607.3		)	—
Total Assets	$	2,191.9	$	4,317.8	$	701.9		$	(4,481.7	)	$	2,729.9

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:
Accounts payable	$	—	$	140.5	$	50.7		$	—		$	191.2
Accrued expenses and other current liabilities	1.4		144.2		62.8			—			208.4
Deferred income taxes	—		—		0.8			—			0.8
Income taxes payable	—		115.2		4.7			(118.4		)	1.5
Current portion of long-term debt	—		36.6		3.0			—			39.6
Total Current Liabilities	1.4		436.5		122.0			(118.4		)	441.5
Long-term debt	375.0		1,421.9		—			—			1,796.9
Deferred income taxes	—		252.8		33.3			—			286.1
Other non-current liabilities	—		69.1		6.2			—			75.3
Due to affiliates	1,685.4		1,381.5		940.5			(4,007.4		)	—
Total Liabilities	2,061.8		3,561.8		1,102.0			(4,125.8		)	2,599.8

Redeemable non-controlling interest	11.5		11.5		—			(11.5		)	11.5

Total Stockholders’ Equity	118.6		744.5		(400.1		)	(344.4		)	118.6
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	$	2,191.9	$	4,317.8	$	701.9		$	(4,481.7	)	$	2,729.9

Schedule of supplemental condensed consolidated statements of cash flows

Supplemental Condensed Consolidated Statements of Cash Flows

Six Months Ended June 30, 2014

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net cash (used in) provided by operating activities	$	(32.6	)	$	53.9		$	51.1		$	—	$	72.4

CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of businesses, net of cash acquired	—			(0.2		)	0.2			—		—
Proceeds from disposition of business	—			46.3			—			—		46.3
Purchases of property, plant and equipment	—			(11.3		)	(5.6		)	—		(16.9		)
Other	—			0.1			(2.2		)	—		(2.1		)
Net cash used in investing activities	—			34.9			(7.6		)	—		27.3

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	—			106.5			—			—		106.5
Repayments 2012 Credit Agreement	—			(169.1		)	—			—		(169.1		)
Proceeds from issuance of Senior Notes	—			—			—			—		—
Net activity in investment in and advances from (to) subsidiaries and affiliates	29.9			24.5			(54.4		)			—
Proceeds from exercise of stock options	3.5			—			—			—		3.5
Excess tax benefit from stock based compensation	1.5			—			—			—		1.5
Treasury stock repurchased	(2.2		)	—			—			—		(2.2		)
Payment of deferred financing costs	—			—			—			—		—
Other	—			(0.8		)	1.0			—		0.2
Net cash provided by (used in) financing activities	32.7			(38.9		)	(53.4		)	—		(59.6		)

NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			0.4			—		0.4
Increase (decrease) in cash and cash equivalents	0.1			49.9			(9.5		)	—		40.5
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	—			30.9			50.1			—		81.0
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	0.1		$	80.8		$	40.6		$	—	$	121.5

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Statements of Cash Flows

Six Months Ended June 30, 2013

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net cash (used in) provided by operating activities	$	(35.8	)	$	(7.0	)	$	31.3		$	—	$	(11.5	)

CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of businesses, net of cash acquired	—			(1,035.3		)	(137.6		)	—		(1,172.9		)
Proceeds from disposition of business	—			—			—			—		—
Purchases of property, plant and equipment	—			(14.0		)	(5.3		)	—		(19.3		)
Other	—			(66.3		)	68.4			—		2.1
Net cash used in by investing activities	—			(1,115.6		)	(74.5		)	—		(1,190.1		)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	—			2,368.8			—			—		2,368.8
Repayments 2012 Credit Agreement	—			(926.6		)	—			—		(926.6		)
Proceeds from issuance of Senior Notes	375.0			—			—			—		375.0
Proceeds from 2011 Credit Facility	—			46.5			—			—		46.5
Repayments of 2011 Credit Facility	—			(696.5		)	—			—		(696.5		)
Net activity in investment in and advances (to) from subsidiaries and affiliates	(804.9		)	857.8			(52.9		)	—		—
Proceeds from exercise of stock options	5.5			—			—			—		5.5
Excess tax benefit from stock based compensation	3.5			—			—			—		3.5
Treasury stock repurchased	465.2			(465.2		)	—			—		—
Payment of deferred financing costs	(8.3		)	(43.6		)	—			—		(51.9		)
Other	—			—			(0.2		)	—		(0.2		)
Net cash provided by (used in) financing activities	36.0			1,141.2			(53.1		)	—		1,124.1

NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(0.4		)	—		(0.4		)
Increase (decrease) in cash and cash equivalents	0.2			18.6			(96.7		)	—		(77.9		)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	—			19.2			160.1			—		179.3
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	0.2		$	37.8		$	63.4		$	—	$	101.4