Unconsolidated Affiliate Companies

12 Months Ended

Dec. 31, 2014

Equity Method Investments and Joint Ventures [Abstract]

The Company has ownership interests in a group of Asia-Pacific joint ventures, as a result of the Sealy Acquisition, to develop markets for Sealy® branded products in those regions. The Company’s ownership interest in these joint ventures is 50.0% and is accounted for under the equity method. The Company’s net investment of $12.9 million and $7.8 million at December 31, 2014 and 2013, respectively, is recorded in other non-current assets within the accompanying Consolidated Balance Sheets. The Company’s share of earnings for the year ended December 31, 2014 and 2013 is recorded in equity income in earnings of unconsolidated affiliates in the accompanying Consolidated Statements of Income.

The tables below present summarized financial information for joint ventures as of and for the years ended December 31:



(in millions)	2014		2013
Current assets	$	49.7	$	39.1
Non-current assets	5.1		5.7
Current liabilities	29.7		31.7
Equity	25.1		13.1



(in millions)	2014		2013
Revenues	$	99.2	$	67.9
Gross profit	62.1		45.0
Income from operations	16.8		10.9
Net income	13.1		8.9

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

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