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Guarantor/Non-Guarantor Financial Information (Tables)

9 Months Ended

Sep. 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 September 30, 2014

(in millions)

	Tempur Sealy International, Inc. (Ultimate Parent)				Combined Guarantor Subsidiaries				Combined Non-Guarantor Subsidiaries				Eliminations				Consolidated
Net sales	$	—			$	639.3			$	203.9			$	(15.8	)		$	827.4
Cost of sales	—				414.7				110.0				(15.8		)		508.9
Gross profit	—				224.6				93.9				—				318.5
Selling and marketing expenses	0.8				121.1				44.9				—				166.8
General, administrative and other expenses	3.8				49.5				17.5				—				70.8
Equity income in earnings of unconsolidated affiliates	—				—				(1.8		)		—				(1.8		)
Royalty income, net of royalty expense	—				(4.4		)		—				—				(4.4		)
Operating (loss) income	(4.6		)		58.4				33.3				—				87.1
Other expense, net:
Third party interest expense, net	6.7				17.9				0.7				—				25.3
Intercompany interest expense (income), net	8.2				(8.7		)		0.5				—				—
Interest expense, net	14.9				9.2				1.2				—				25.3
Loss on disposal of business	—				2.8				—				—				2.8
Other (income), net	—				(0.7		)		(0.2		)		—				(0.9		)
Total other expense	14.9				11.3				1.0				—				27.2
Income from equity investees	50.0				25.3				—				(75.3		)		—
Income before income taxes	30.5				72.4				32.3				(75.3		)		59.9
Income tax benefit (provision)	7.0				(22.4		)		(7.0		)		—				(22.4		)
Net income	37.5				50.0				25.3				(75.3		)		37.5
Less: net income attributable to non-controlling interest	0.4				0.4				—				(0.4		)		0.4
Net income attributable to Tempur Sealy International, Inc.	$	37.1			$	49.6			$	25.3			$	(74.9	)		$	37.1
Comprehensive income attributable to Tempur Sealy International, Inc.	$	14.5			$	47.3			$	0.5			$	(47.8	)		$	14.5

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Statements of Operations and Comprehensive Income

Three Months Ended September 30, 2013

(in millions)

	Tempur Sealy International, Inc. (Ultimate Parent)				Combined Guarantor Subsidiaries				Combined Non-Guarantor Subsidiaries				Eliminations				Consolidated
Net sales	$	—			$	543.0			$	198.4			$	(5.9	)		$	735.5
Cost of sales	—				339.1				103.6				(5.9		)		436.8
Gross profit	—				203.9				94.8				—				298.7
Selling and marketing expenses	0.7				111.6				38.6				—				150.9
General, administrative and other expenses	5.5				45.8				20.6				—				71.9
Equity income in earnings of unconsolidated affiliates	—				—				(1.2		)		—				(1.2		)
Royalty income, net of royalty expense	—				(4.1		)		—				—				(4.1		)
Operating (loss) income	(6.2		)		50.6				36.8				—				81.2
Other expense, net:
Third party interest expense, net	14.7				8.9				1.0				—				24.6
Intercompany interest expense, net	—				—				—				—				—
Interest expense, net	14.7				8.9				1.0				—				24.6
Other expense, net	—				—				0.9				—				0.9
Total other expense	14.7				8.9				1.9				—				25.5
Income from equity investees	52.8				25.3				—				(78.1		)		—
Income before income taxes	31.9				67.0				34.9				(78.1		)		55.7
Income tax benefit (provision)	8.3				(14.2		)		(9.6		)		—				(15.5		)
Net income	40.2				52.8				25.3				(78.1		)		40.2
Less: net income attributable to non-controlling interest	—				—				—				—				—
Net income attributable to Tempur Sealy International, Inc.	$	40.2			$	52.8			$	25.3			$	(78.1	)		$	40.2
Comprehensive income attributable to Tempur Sealy International, Inc.	$	49.6			$	52.8			$	34.6			$	(87.4	)		$	49.6

Schedule of supplemental condensed consolidated balance sheets

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Balance Sheets

September 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	$	0.3			$	40.7			$	40.8			$	—			$	81.8
Accounts receivable, net	—				250.7				151.7				—				402.4
Inventories	—				147.5				59.8				—				207.3
Income taxes receivable	138.6				—				—				(138.6		)		—
Prepaid expenses and other current assets	0.4				23.0				29.7				—				53.1
Deferred income taxes	10.9				31.5				4.8				—				47.2
Total Current Assets	150.2				493.4				286.8				(138.6		)		791.8
Property, plant and equipment,  net	—				288.4				69.7				—				358.1
Goodwill	—				557.2				181.2				—				738.4
Other intangible assets, net	—				615.4				120.8				—				736.2
Deferred tax asset	—				—				10.6				—				10.6
Other non-current assets	6.7				37.6				20.3				—				64.6
Net investment in subsidiaries	1,776.6				—				—				(1,776.6		)		—
Due from affiliates	63.8				2,232.7				4.4				(2,300.9		)		—
Total Assets	$	1,997.3			$	4,224.7			$	693.8			$	(4,216.1	)		$	2,699.7
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	—			$	198.9			$	50.4			$	—			$	249.3
Accrued expenses and other current liabilities	7.8				160.4				65.3				—				233.5
Deferred income taxes	—				—				0.8				—				0.8
Income taxes payable	—				150.8				6.9				(138.6		)		19.1
Current portion of long-term debt	—				56.4				3.8				—				60.2
Total Current Liabilities	7.8				566.5				127.2				(138.6		)		562.9
Long-term debt	375.0				1,211.6				—				—				1,586.6
Deferred income taxes	—				230.6				31.3				—				261.9
Other non-current liabilities	—				94.2				8.5				—				102.7
Due to affiliates	1,428.9				345.3				872.2				(2,646.4		)		—
Total Liabilities	1,811.7				2,448.2				1,039.2				(2,785.0		)		2,514.1
Redeemable non-controlling interest	12.0				12.0				—				(12.0		)		12.0
Total Stockholders’ Equity	173.6				1,764.5				(345.4		)		(1,419.1		)		173.6
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	$	1,997.3			$	4,224.7			$	693.8			$	(4,216.1	)		$	2,699.7

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

Nine Months Ended September 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	$	(41.1	)		$	146.0			$	76.0			$	—			$	180.9
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of businesses, net of cash acquired	—				—				(8.5		)		—				(8.5		)
Proceeds from disposition of business	—				43.5				—				—				43.5
Purchases of property, plant and equipment	—				(20.7		)		(9.6		)		—				(30.3		)
Other	—				2.9				(0.9		)		—				2.0
Net cash provided by (used in) investing activities	—				25.7				(19.0		)		—				6.7
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	—				239.5				—				—				239.5
Repayments 2012 Credit Agreement	—				(432.7		)		—				—				(432.7		)
Proceeds from issuance of Senior Notes	—				—				—				—				—
Net activity in investment in and advances from (to) subsidiaries and affiliates	38.1				32.5				(70.6		)						—
Proceeds from exercise of stock options	3.9				—				—				—				3.9
Excess tax benefit from stock based compensation	1.6				—				—				—				1.6
Treasury stock repurchased	(2.2		)		—				—				—				(2.2		)
Payment of deferred financing costs	—				—				—				—				—
Other	—				(1.2		)		1.6				—				0.4
Net cash provided by (used in) financing activities	41.4				(161.9		)		(69.0		)		—				(189.5		)
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—				—				2.7				—				2.7
Increase (decrease) in cash and cash equivalents	0.3				9.8				(9.3		)		—				0.8
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	—				30.9				50.1				—				81.0
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	0.3			$	40.7			$	40.8			$	—			$	81.8

TEMPUR SEALY INTERNATIONAL, INC. 

Supplemental Condensed Consolidated Statements of Cash Flows

Nine Months Ended September 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	$	(44.4	)		$	80.9			$	68.3			$	—			$	104.8
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	—				(20.4		)		(8.0		)		—				(28.4		)
Other	—				(53.0		)		53.9				—				0.9
Net cash (used in) investing activities	—				(1,108.7		)		(91.7		)		—				(1,200.4		)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	—				2,917.6				—				—				2,917.6
Repayments 2012 Credit Agreement	—				(1,559.1		)		—				—				(1,559.1		)
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	(797.1		)		871.6				(74.5		)		—				—
Proceeds from exercise of stock options	6.0				—				—				—				6.0
Excess tax benefit from stock based compensation	3.7				—				—				—				3.7
Treasury stock repurchased	465.2				(465.2		)		—				—				—
Payment of deferred financing costs	(8.4		)		(43.6		)		—				—				(52.0		)
Other	—				(0.8		)		0.1				—				(0.7		)
Net cash provided by (used in) financing activities	44.4				1,070.5				(74.4		)		—				1,040.5
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—				—				2.4				—				2.4
Increase (decrease) in cash and cash equivalents	—				42.7				(95.4		)		—				(52.7		)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	—				19.2				160.1				—				179.3
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	—			$	61.9			$	64.7			$	—			$	126.6

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- Definition

Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 220

-SubTopic 10

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=36458714&loc=d3e526-108580

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Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.

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Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations.

+ References

No definition available.

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