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Guarantor/Non-Guarantor Financial Information (Tables) | 6 Months Ended
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Jun. 30, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Schedule of supplemental condensed consolidated statements of operations and comprehensive income | TEMPUR SEALY INTERNATIONAL, INC. Supplemental Condensed Consolidated Statements of Operations and Comprehensive Income Three Months Ended June 30, 2015 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 592.5 |  |  | $ | 184.2 |  |  | $ | (12.3 | ) |  | $ | 764.4 |
Cost of sales | — |  |  | 378.7 |  |  | 100.5 |  |  | (12.3 | ) |  | 466.9 |
Gross profit | — |  |  | 213.8 |  |  | 83.7 |  |  | — |  |  | 297.5 |
Selling and marketing expenses | 0.9 |  |  | 123.3 |  |  | 44.4 |  |  | — |  |  | 168.6 |
General, administrative and other expenses | 7.3 |  |  | 60.9 |  |  | 16.9 |  |  | — |  |  | 85.1 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (3.4 | ) |  | — |  |  | (3.4 | )
Royalty income, net of royalty expense | — |  |  | (4.8 | ) |  | — |  |  | — |  |  | (4.8 | )
Operating (loss) income | (8.2 | ) |  | 34.4 |  |  | 25.8 |  |  | — |  |  | 52.0 |
Other expense, net: |  |  |  |  |  |  |  |  |  |  |  |  |
Third party interest expense, net | 6.7 |  |  | 13.2 |  |  | 0.6 |  |  | — |  |  | 20.5 |
Intercompany interest expense (income), net | 8.2 |  |  | (8.9 | ) |  | 0.7 |  |  | — |  |  | — |
Interest expense, net | 14.9 |  |  | 4.3 |  |  | 1.3 |  |  | — |  |  | 20.5 |
Other expense, net | — |  |  | 0.6 |  |  | 1.6 |  |  | — |  |  | 2.2 |
Total other expense | 14.9 |  |  | 4.9 |  |  | 2.9 |  |  | — |  |  | 22.7 |
Income from equity investees | 37.4 |  |  | 17.7 |  |  | — |  |  | (55.1 | ) |  | — |
Income before income taxes | 14.3 |  |  | 47.2 |  |  | 22.9 |  |  | (55.1 | ) |  | 29.3 |
Income tax benefit (provision) | 6.7 |  |  | (9.8 | ) |  | (5.2 | ) |  | — |  |  | (8.3 | )
Net income before non-controlling interest | 21.0 |  |  | 37.4 |  |  | 17.7 |  |  | (55.1 | ) |  | 21.0 |
Less: Net (loss) attributable to non-controlling interest | (0.2 | ) |  | (0.2 | ) |  | — |  |  | 0.2 |  |  | (0.2 | )
Net income attributable to Tempur Sealy International, Inc. | $ | 21.2 |  |  | $ | 37.6 |  |  | $ | 17.7 |  |  | $ | (55.3 | ) |  | $ | 21.2 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 28.4 |  |  | $ | 37.4 |  |  | $ | 25.4 |  |  | $ | (62.8 | ) |  | $ | 28.4 |
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, net | — |  |  | 20.4 |  |  | — |  |  | — |  |  | 20.4 |
Other (income) expense, net | — |  |  | (0.7 | ) |  | 0.2 |  |  | — |  |  | (0.5 | )
Total other expense, net | 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 before non-controlling interest | (2.4 | ) |  | 8.5 |  |  | 20.4 |  |  | (28.9 | ) |  | (2.4 | )
Less: Net (loss) 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 Six Months Ended June 30, 2015 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 1,151.3 |  |  | $ | 377.1 |  |  | $ | (24.5 | ) |  | $ | 1,503.9 |
Cost of sales | — |  |  | 746.4 |  |  | 205.8 |  |  | (24.5 | ) |  | 927.7 |
Gross profit | — |  |  | 404.9 |  |  | 171.3 |  |  | — |  |  | 576.2 |
Selling and marketing expenses | 1.7 |  |  | 228.7 |  |  | 92.0 |  |  | — |  |  | 322.4 |
General, administrative and other expenses | 11.1 |  |  | 118.3 |  |  | 33.4 |  |  | — |  |  | 162.8 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (6.4 | ) |  | — |  |  | (6.4 | )
Royalty income, net of royalty expense | — |  |  | (9.0 | ) |  | — |  |  | — |  |  | (9.0 | )
Operating (loss) income | (12.8 | ) |  | 66.9 |  |  | 52.3 |  |  | — |  |  | 106.4 |
Other expense, net: |  |  |  |  |  |  |  |  |
Third party interest expense, net | 13.4 |  |  | 26.2 |  |  | 1.3 |  |  | — |  |  | 40.9 |
Intercompany interest expense (income), net | 16.4 |  |  | (17.7 | ) |  | 1.3 |  |  | — |  |  | — |
Interest expense, net | 29.8 |  |  | 8.5 |  |  | 2.6 |  |  | — |  |  | 40.9 |
Other expense, net | — |  |  | 0.5 |  |  | 0.4 |  |  | — |  |  | 0.9 |
Total other expense, net | 29.8 |  |  | 9.0 |  |  | 3.0 |  |  | — |  |  | 41.8 |
Income from equity investees | 75.0 |  |  | 38.6 |  |  | — |  |  | (113.6 | ) |  | — |
Income before income taxes | 32.4 |  |  | 96.5 |  |  | 49.3 |  |  | (113.6 | ) |  | 64.6 |
Income tax benefit (provision) | 13.6 |  |  | (21.5 | ) |  | (10.7 | ) |  | — |  |  | (18.6 | )
Net income before non-controlling interest | 46.0 |  |  | 75.0 |  |  | 38.6 |  |  | (113.6 | ) |  | 46.0 |
Less: Net income attributable to non-controlling interest | 1.4 |  |  | 1.4 |  |  | — |  |  | (1.4 | ) |  | 1.4 |
Net income attributable to Tempur Sealy International, Inc. | $ | 44.6 |  |  | $ | 73.6 |  |  | $ | 38.6 |  |  | $ | (112.2 | ) |  | $ | 44.6 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 15.6 |  |  | $ | 73.6 |  |  | $ | 7.1 |  |  | $ | (80.7 | ) |  | $ | 15.6 |
TEMPUR SEALY INTERNATIONAL, INC. Supplemental Condensed Consolidated Statements of Operations and Comprehensive Income Six Months Ended June 30, 2014 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 1,044.5 |  |  | $ | 388.8 |  |  | $ | (16.4 | ) |  | $ | 1,416.9 |
Cost of sales | — |  |  | 697.7 |  |  | 197.8 |  |  | (16.4 | ) |  | 879.1 |
Gross profit | — |  |  | 346.8 |  |  | 191.0 |  |  | — |  |  | 537.8 |
Selling and marketing expenses | 0.9 |  |  | 204.5 |  |  | 92.8 |  |  | — |  |  | 298.2 |
General, administrative and other expenses | 5.7 |  |  | 98.3 |  |  | 35.8 |  |  | — |  |  | 139.8 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (3.8 | ) |  | — |  |  | (3.8 | )
Royalty income, net of royalty expense | — |  |  | (9.1 | ) |  | — |  |  | — |  |  | (9.1 | )
Operating (loss) income | (6.6 | ) |  | 53.1 |  |  | 66.2 |  |  | — |  |  | 112.7 |
Other expense, net: |  |  |  |  |  |  |  |  |  |  |  |  |
Third party interest expense, net | 13.4 |  |  | 30.8 |  |  | 1.0 |  |  | — |  |  | 45.2 |
Intercompany interest expense (income), net | 16.3 |  |  | (17.3 | ) |  | 1.0 |  |  | — |  |  | — |
Interest expense, net | 29.7 |  |  | 13.5 |  |  | 2.0 |  |  | — |  |  | 45.2 |
Loss on disposal, net | — |  |  | 20.4 |  |  | — |  |  | — |  |  | 20.4 |
Other (income) expense, net | — |  |  | (0.9 | ) |  | 1.4 |  |  | — |  |  | 0.5 |
Total other expense, net | 29.7 |  |  | 33.0 |  |  | 3.4 |  |  | — |  |  | 66.1 |
Income from equity investees | 49.2 |  |  | 48.6 |  |  | — |  |  | (97.8 | ) |  | — |
Income before income taxes | 12.9 |  |  | 68.7 |  |  | 62.8 |  |  | (97.8 | ) |  | 46.6 |
Income tax benefit (provision) | 12.4 |  |  | (19.5 | ) |  | (14.2 | ) |  | — |  |  | (21.3 | )
Net income before non-controlling interest | 25.3 |  |  | 49.2 |  |  | 48.6 |  |  | (97.8 | ) |  | 25.3 |
Less: Net income attributable to non-controlling interest | 0.1 |  |  | 0.1 |  |  | — |  |  | (0.1 | ) |  | 0.1 |
Net income attributable to Tempur Sealy International, Inc. | $ | 25.2 |  |  | $ | 49.1 |  |  | $ | 48.6 |  |  | $ | (97.7 | ) |  | $ | 25.2 |
|  |  |  |  |  |  |  |  | — |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 29.1 |  |  | $ | 51.5 |  |  | $ | 50.2 |  |  | $ | (101.7 | ) |  | $ | 29.1 |
Schedule of supplemental condensed consolidated balance sheets | TEMPUR SEALY INTERNATIONAL, INC. Supplemental Condensed Consolidated Balance Sheets June 30, 2015 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 9.0 |  |  | $ | 26.4 |  |  | $ | — |  |  | $ | 35.4 |
Accounts receivable, net | — |  |  | 279.8 |  |  | 144.9 |  |  | — |  |  | 424.7 |
Inventories, net | — |  |  | 170.8 |  |  | 61.0 |  |  | — |  |  | 231.8 |
Income taxes receivable | 174.4 |  |  | 8.6 |  |  | — |  |  | (174.4 | ) |  | 8.6 |
Prepaid expenses and other current assets | 0.6 |  |  | 33.5 |  |  | 27.8 |  |  | — |  |  | 61.9 |
Deferred income taxes | 14.3 |  |  | 30.8 |  |  | 6.1 |  |  | — |  |  | 51.2 |
Total Current Assets | 189.3 |  |  | 532.5 |  |  | 266.2 |  |  | (174.4 | ) |  | 813.6 |
Property, plant and equipment, net | — |  |  | 295.6 |  |  | 63.0 |  |  | — |  |  | 358.6 |
Goodwill | — |  |  | 501.3 |  |  | 220.7 |  |  | — |  |  | 722.0 |
Other intangible assets, net | — |  |  | 618.9 |  |  | 93.4 |  |  | — |  |  | 712.3 |
Deferred tax asset | — |  |  | — |  |  | 9.2 |  |  | — |  |  | 9.2 |
Other non-current assets | 6.0 |  |  | 55.5 |  |  | 39.7 |  |  | — |  |  | 101.2 |
Net investment in subsidiaries | 1,928.6 |  |  | — |  |  | — |  |  | (1,928.6 | ) |  | — |
Due from affiliates | 103.1 |  |  | 2,174.1 |  |  | 6.7 |  |  | (2,283.9 | ) |  | — |
Total Assets | $ | 2,227.0 |  |  | $ | 4,177.9 |  |  | $ | 698.9 |  |  | $ | (4,386.9 | ) |  | $ | 2,716.9 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 206.5 |  |  | $ | 55.0 |  |  | $ | — |  |  | $ | 261.5 |
Accrued expenses and other current liabilities | 1.3 |  |  | 184.8 |  |  | 61.4 |  |  | — |  |  | 247.5 |
Deferred income taxes | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Income taxes payable | — |  |  | 167.0 |  |  | 7.4 |  |  | (174.4 | ) |  | — |
Current portion of long-term debt | — |  |  | 60.8 |  |  | 5.2 |  |  | — |  |  | 66.0 |
Total Current Liabilities | 1.3 |  |  | 619.1 |  |  | 129.2 |  |  | (174.4 | ) |  | 575.2 |
Long-term debt | 375.0 |  |  | 1,135.0 |  |  | — |  |  | — |  |  | 1,510.0 |
Deferred income taxes | — |  |  | 221.9 |  |  | 27.4 |  |  | — |  |  | 249.3 |
Other non-current liabilities | — |  |  | 108.3 |  |  | 6.8 |  |  | — |  |  | 115.1 |
Due to affiliates | 1,583.4 |  |  | 165.0 |  |  | 698.0 |  |  | (2,446.4 | ) |  | — |
Total Liabilities | 1,959.7 |  |  | 2,249.3 |  |  | 861.4 |  |  | (2,620.8 | ) |  | 2,449.6 |
Redeemable non-controlling interest | 14.6 |  |  | 14.6 |  |  | — |  |  | (14.6 | ) |  | 14.6 |
Total Stockholders’ Equity | 252.7 |  |  | 1,914.0 |  |  | (162.5 | ) |  | (1,751.5 | ) |  | 252.7 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity | $ | 2,227.0 |  |  | $ | 4,177.9 |  |  | $ | 698.9 |  |  | $ | (4,386.9 | ) |  | $ | 2,716.9 |
TEMPUR SEALY INTERNATIONAL, INC. Supplemental Condensed Consolidated Balance Sheets December 31, 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 | $ | 0.4 |  |  | $ | 25.5 |  |  | $ | 36.6 |  |  | $ | — |  |  | $ | 62.5 |
Accounts receivable, net | — |  |  | 241.2 |  |  | 144.6 |  |  | — |  |  | 385.8 |
Inventories, net | — |  |  | 158.3 |  |  | 58.9 |  |  | — |  |  | 217.2 |
Income taxes receivable | 144.1 |  |  | — |  |  | — |  |  | (144.1 | ) |  | — |
Prepaid expenses and other current assets | — |  |  | 28.2 |  |  | 28.3 |  |  | — |  |  | 56.5 |
Deferred income taxes | 12.4 |  |  | 26.8 |  |  | 5.2 |  |  | — |  |  | 44.4 |
Total Current Assets | 156.9 |  |  | 480.0 |  |  | 273.6 |  |  | (144.1 | ) |  | 766.4 |
Property, plant and equipment, net | — |  |  | 287.3 |  |  | 68.3 |  |  | — |  |  | 355.6 |
Goodwill | — |  |  | 557.2 |  |  | 179.3 |  |  | — |  |  | 736.5 |
Other intangible assets, net | — |  |  | 611.9 |  |  | 115.2 |  |  | — |  |  | 727.1 |
Deferred tax asset | — |  |  | — |  |  | 8.6 |  |  | — |  |  | 8.6 |
Other non-current assets | 6.3 |  |  | 46.4 |  |  | 15.7 |  |  | — |  |  | 68.4 |
Net investment in subsidiaries | 1,808.4 |  |  | — |  |  | — |  |  | (1,808.4 | ) |  | — |
Due from affiliates | 51.4 |  |  | 2,226.0 |  |  | 5.3 |  |  | (2,282.7 | ) |  | — |
Total Assets | $ | 2,023.0 |  |  | $ | 4,208.8 |  |  | $ | 666.0 |  |  | $ | (4,235.2 | ) |  | $ | 2,662.6 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 170.4 |  |  | $ | 56.0 |  |  | $ | — |  |  | $ | 226.4 |
Accrued expenses and other current liabilities | 1.4 |  |  | 166.1 |  |  | 65.8 |  |  | — |  |  | 233.3 |
Deferred income taxes | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Income taxes payable | — |  |  | 163.0 |  |  | (6.9 | ) |  | (144.1 | ) |  | 12.0 |
Current portion of long-term debt | — |  |  | 61.8 |  |  | 4.6 |  |  | — |  |  | 66.4 |
Total Current Liabilities | 1.4 |  |  | 561.3 |  |  | 119.7 |  |  | (144.1 | ) |  | 538.3 |
Long-term debt | 375.0 |  |  | 1,160.9 |  |  | — |  |  | — |  |  | 1,535.9 |
Deferred income taxes | — |  |  | 229.1 |  |  | 29.7 |  |  | — |  |  | 258.8 |
Other non-current liabilities | — |  |  | 109.3 |  |  | 5.0 |  |  | — |  |  | 114.3 |
Due to affiliates | 1,431.3 |  |  | 340.2 |  |  | 849.4 |  |  | (2,620.9 | ) |  | — |
Total Liabilities | 1,807.7 |  |  | 2,400.8 |  |  | 1,003.8 |  |  | (2,765.0 | ) |  | 2,447.3 |
Redeemable non-controlling interest | 12.6 |  |  | 12.6 |  |  | — |  |  | (12.6 | ) |  | 12.6 |
Total Stockholders’ Equity | 202.7 |  |  | 1,795.4 |  |  | (337.8 | ) |  | (1,457.6 | ) |  | 202.7 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity | $ | 2,023.0 |  |  | $ | 4,208.8 |  |  | $ | 666.0 |  |  | $ | (4,235.2 | ) |  | $ | 2,662.6 |
Schedule of supplemental condensed consolidated statements of cash flows | Supplemental Condensed Consolidated Statements of Cash Flows Six Months Ended June 30, 2015 (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 | $ | (49.6 | ) |  | $ | 31.6 |  |  | $ | 19.1 |  |  | $ | — |  |  | $ | 1.1 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from disposition of business | — |  |  | 7.2 |  |  | — |  |  | — |  |  | 7.2 |
Purchases of property, plant and equipment | — |  |  | (27.8 | ) |  | (6.2 | ) |  | — |  |  | (34.0 | )
Other | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | )
Net cash (used in) investing activities | — |  |  | (20.6 | ) |  | (6.3 | ) |  | — |  |  | (26.9 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under long-term debt obligations | — |  |  | 283.0 |  |  | — |  |  | — |  |  | 283.0 |
Repayments of borrowings under long-term debt obligations | — |  |  | (311.5 | ) |  | — |  |  | — |  |  | (311.5 | )
Net activity in investment in and advances from (to) subsidiaries and affiliates | 25.2 |  |  | 3.1 |  |  | (28.3 | ) |  |  |  | — |
Proceeds from exercise of stock options | 10.5 |  |  | — |  |  | — |  |  | — |  |  | 10.5 |
Excess tax benefit from stock based compensation | 14.7 |  |  | — |  |  | — |  |  | — |  |  | 14.7 |
Treasury stock repurchased | (1.2 | ) |  | — |  |  | — |  |  | — |  |  | (1.2 | )
Other | — |  |  | (2.1 | ) |  | 0.9 |  |  | — |  |  | (1.2 | )
Net cash provided by (used in) financing activities | 49.2 |  |  | (27.5 | ) |  | (27.4 | ) |  | — |  |  | (5.7 | )
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | — |  |  | — |  |  | 4.4 |  |  | — |  |  | 4.4 |
Decrease in cash and cash equivalents | (0.4 | ) |  | (16.5 | ) |  | (10.2 | ) |  | — |  |  | (27.1 | )
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 0.4 |  |  | 25.5 |  |  | 36.6 |  |  | — |  |  | 62.5 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ | — |  |  | $ | 9.0 |  |  | $ | 26.4 |  |  | $ | — |  |  | $ | 35.4 |
TEMPUR SEALY INTERNATIONAL, INC. 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 provided by (used in) investing activities | — |  |  | 34.9 |  |  | (7.6 | ) |  | — |  |  | 27.3 |
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under long-term debt obligations | — |  |  | 106.5 |  |  | — |  |  | — |  |  | 106.5 |
Repayments of borrowings under long-term debt obligations | — |  |  | (169.1 | ) |  | — |  |  | — |  |  | (169.1 | )
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 | )
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 |

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