XML 45 R36.htm IDEA: XBRL DOCUMENT
v3.3.0.814

Guarantor/Non-Guarantor Financial Information (Tables) | 9 Months Ended
--- | ---
Sep. 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 September 30, 2015 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 697.8 |  |  | $ | 195.6 |  |  | $ | (13.4 | ) |  | $ | 880.0 |
Cost of sales | — |  |  | 427.2 |  |  | 106.6 |  |  | (13.4 | ) |  | 520.4 |
Gross profit | — |  |  | 270.6 |  |  | 89.0 |  |  | — |  |  | 359.6 |
Selling and marketing expenses | 1.1 |  |  | 129.4 |  |  | 45.1 |  |  | — |  |  | 175.6 |
General, administrative and other expenses | 4.2 |  |  | 59.1 |  |  | 16.5 |  |  | — |  |  | 79.8 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (2.0 | ) |  | — |  |  | (2.0 | )
Royalty income, net of royalty expense | — |  |  | (4.7 | ) |  | — |  |  | — |  |  | (4.7 | )
Operating (loss) income | (5.3 | ) |  | 86.8 |  |  | 29.4 |  |  | — |  |  | 110.9 |
Other expense, net: |  |  |  |  |  |  |  |  |  |  |  |  |
Third party interest expense, net | 6.7 |  |  | 25.8 |  |  | 0.7 |  |  | — |  |  | 33.2 |
Intercompany interest expense (income), net | 8.3 |  |  | (8.9 | ) |  | 0.6 |  |  | — |  |  | — |
Interest expense, net | 15.0 |  |  | 16.9 |  |  | 1.3 |  |  | — |  |  | 33.2 |
Other (income) expense, net | — |  |  | (8.6 | ) |  | 20.4 |  |  | — |  |  | 11.8 |
Total other expense, net | 15.0 |  |  | 8.3 |  |  | 21.7 |  |  | — |  |  | 45.0 |
Income from equity investees | 55.0 |  |  | 1.4 |  |  | — |  |  | (56.4 | ) |  | — |
Income before income taxes | 34.7 |  |  | 79.9 |  |  | 7.7 |  |  | (56.4 | ) |  | 65.9 |
Income tax benefit (provision) | 6.2 |  |  | (24.9 | ) |  | (6.3 | ) |  | — |  |  | (25.0 | )
Net income before non-controlling interest | 40.9 |  |  | 55.0 |  |  | 1.4 |  |  | (56.4 | ) |  | 40.9 |
Less: Net income attributable to non-controlling interest | 0.7 |  |  | 0.7 |  |  | — |  |  | (0.7 | ) |  | 0.7 |
Net income attributable to Tempur Sealy International, Inc. | $ | 40.2 |  |  | $ | 54.3 |  |  | $ | 1.4 |  |  | $ | (55.7 | ) |  | $ | 40.2 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 24.6 |  |  | $ | 53.9 |  |  | $ | (21.3 | ) |  | $ | (32.6 | ) |  | $ | 24.6 |
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, net | — |  |  | 2.8 |  |  | — |  |  | — |  |  | 2.8 |
Other income, net | — |  |  | (0.7 | ) |  | (0.2 | ) |  | — |  |  | (0.9 | )
Total other expense, net | 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 before non-controlling interest | 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 Nine Months Ended September 30, 2015 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 1,849.2 |  |  | $ | 572.7 |  |  | $ | (38.0 | ) |  | $ | 2,383.9 |
Cost of sales | — |  |  | 1,173.6 |  |  | 312.5 |  |  | (38.0 | ) |  | 1,448.1 |
Gross profit | — |  |  | 675.6 |  |  | 260.2 |  |  | — |  |  | 935.8 |
Selling and marketing expenses | 2.8 |  |  | 358.1 |  |  | 137.1 |  |  | — |  |  | 498.0 |
General, administrative and other expenses | 15.3 |  |  | 177.5 |  |  | 49.8 |  |  | — |  |  | 242.6 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (8.4 | ) |  | — |  |  | (8.4 | )
Royalty income, net of royalty expense | — |  |  | (13.7 | ) |  | — |  |  | — |  |  | (13.7 | )
Operating (loss) income | (18.1 | ) |  | 153.7 |  |  | 81.7 |  |  | — |  |  | 217.3 |
Other expense, net: |  |  |  |  |  |  |  |  |
Third party interest expense, net | 20.1 |  |  | 52.0 |  |  | 2.0 |  |  | — |  |  | 74.1 |
Intercompany interest expense (income), net | 24.6 |  |  | (26.5 | ) |  | 1.9 |  |  | — |  |  | — |
Interest expense, net | 44.7 |  |  | 25.5 |  |  | 3.9 |  |  | — |  |  | 74.1 |
Other (income) expense, net | — |  |  | (8.2 | ) |  | 20.9 |  |  | — |  |  | 12.7 |
Total other expense, net | 44.7 |  |  | 17.3 |  |  | 24.8 |  |  | — |  |  | 86.8 |
Income from equity investees | 130.0 |  |  | 40.1 |  |  | — |  |  | (170.1 | ) |  | — |
Income before income taxes | 67.2 |  |  | 176.5 |  |  | 56.9 |  |  | (170.1 | ) |  | 130.5 |
Income tax benefit (provision) | 19.7 |  |  | (46.5 | ) |  | (16.8 | ) |  | — |  |  | (43.6 | )
Net income before non-controlling interest | 86.9 |  |  | 130.0 |  |  | 40.1 |  |  | (170.1 | ) |  | 86.9 |
Less: Net income attributable to non-controlling interest | 2.1 |  |  | 2.1 |  |  | — |  |  | (2.1 | ) |  | 2.1 |
Net income attributable to Tempur Sealy International, Inc. | $ | 84.8 |  |  | $ | 127.9 |  |  | $ | 40.1 |  |  | $ | (168.0 | ) |  | $ | 84.8 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 40.2 |  |  | $ | 127.5 |  |  | $ | (14.0 | ) |  | $ | (113.5 | ) |  | $ | 40.2 |
TEMPUR SEALY INTERNATIONAL, INC. Supplemental Condensed Consolidated Statements of Operations and Comprehensive Income Nine Months Ended September 30, 2014 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 1,684.1 |  |  | $ | 592.7 |  |  | $ | (32.5 | ) |  | $ | 2,244.3 |
Cost of sales | — |  |  | 1,112.6 |  |  | 307.9 |  |  | (32.5 | ) |  | 1,388.0 |
Gross profit | — |  |  | 571.5 |  |  | 284.8 |  |  | — |  |  | 856.3 |
Selling and marketing expenses | 1.7 |  |  | 326.5 |  |  | 136.8 |  |  | — |  |  | 465.0 |
General, administrative and other expenses | 9.5 |  |  | 148.6 |  |  | 52.5 |  |  | — |  |  | 210.6 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (5.6 | ) |  | — |  |  | (5.6 | )
Royalty income, net of royalty expense | — |  |  | (13.5 | ) |  | — |  |  | — |  |  | (13.5 | )
Operating (loss) income | (11.2 | ) |  | 109.9 |  |  | 101.1 |  |  | — |  |  | 199.8 |
Other expense, net: |  |  |  |  |  |  |  |  |  |  |  |  |
Third party interest expense, net | 20.2 |  |  | 48.6 |  |  | 1.7 |  |  | — |  |  | 70.5 |
Intercompany interest expense (income), net | 24.4 |  |  | (25.9 | ) |  | 1.5 |  |  | — |  |  | — |
Interest expense, net | 44.6 |  |  | 22.7 |  |  | 3.2 |  |  | — |  |  | 70.5 |
Loss on disposal, net | — |  |  | 23.2 |  |  | — |  |  | — |  |  | 23.2 |
Other (income) expense, net | — |  |  | (1.6 | ) |  | 1.2 |  |  | — |  |  | (0.4 | )
Total other expense, net | 44.6 |  |  | 44.3 |  |  | 4.4 |  |  | — |  |  | 93.3 |
Income from equity investees | 99.2 |  |  | 74.8 |  |  | — |  |  | (174.0 | ) |  | — |
Income before income taxes | 43.4 |  |  | 140.4 |  |  | 96.7 |  |  | (174.0 | ) |  | 106.5 |
Income tax benefit (provision) | 19.4 |  |  | (41.2 | ) |  | (21.9 | ) |  | — |  |  | (43.7 | )
Net income before non-controlling interest | 62.8 |  |  | 99.2 |  |  | 74.8 |  |  | (174.0 | ) |  | 62.8 |
Less: Net income attributable to non-controlling interest | 0.5 |  |  | 0.5 |  |  | — |  |  | (0.5 | ) |  | 0.5 |
Net income attributable to Tempur Sealy International, Inc. | $ | 62.3 |  |  | $ | 98.7 |  |  | $ | 74.8 |  |  | $ | (173.5 | ) |  | $ | 62.3 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 43.6 |  |  | $ | 98.8 |  |  | $ | 53.4 |  |  | $ | (152.2 | ) |  | $ | 43.6 |
Schedule of supplemental condensed consolidated balance sheets | TEMPUR SEALY INTERNATIONAL, INC. Supplemental Condensed Consolidated Balance Sheets September 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 | $ | — |  |  | $ | 40.0 |  |  | $ | 31.8 |  |  | $ | — |  |  | $ | 71.8 |
Accounts receivable, net | — |  |  | 304.2 |  |  | 150.5 |  |  | — |  |  | 454.7 |
Inventories, net | — |  |  | 152.7 |  |  | 60.4 |  |  | — |  |  | 213.1 |
Income taxes receivable | 184.8 |  |  | — |  |  | — |  |  | (184.8 | ) |  | — |
Prepaid expenses and other current assets | 0.4 |  |  | 31.0 |  |  | 32.1 |  |  | — |  |  | 63.5 |
Deferred income taxes | 15.0 |  |  | 30.0 |  |  | 6.2 |  |  | — |  |  | 51.2 |
Total Current Assets | 200.2 |  |  | 557.9 |  |  | 281.0 |  |  | (184.8 | ) |  | 854.3 |
Property, plant and equipment, net | — |  |  | 298.0 |  |  | 62.5 |  |  | — |  |  | 360.5 |
Goodwill | — |  |  | 501.4 |  |  | 211.3 |  |  | — |  |  | 712.7 |
Other intangible assets, net | — |  |  | 615.5 |  |  | 86.8 |  |  | — |  |  | 702.3 |
Deferred income taxes | — |  |  | — |  |  | 9.3 |  |  | — |  |  | 9.3 |
Other non-current assets | 5.6 |  |  | 51.6 |  |  | 43.1 |  |  | — |  |  | 100.3 |
Net investment in subsidiaries | 1,982.0 |  |  | — |  |  | — |  |  | (1,982.0 | ) |  | — |
Due from affiliates | 114.9 |  |  | 2,103.0 |  |  | 6.6 |  |  | (2,224.5 | ) |  | — |
Total Assets | $ | 2,302.7 |  |  | $ | 4,127.4 |  |  | $ | 700.6 |  |  | $ | (4,391.3 | ) |  | $ | 2,739.4 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 217.2 |  |  | $ | 55.1 |  |  | $ | — |  |  | $ | 272.3 |
Accrued expenses and other current liabilities | 7.8 |  |  | 198.8 |  |  | 84.7 |  |  | — |  |  | 291.3 |
Deferred income taxes | — |  |  | — |  |  | 0.2 |  |  | — |  |  | 0.2 |
Income taxes payable | — |  |  | 189.9 |  |  | 12.6 |  |  | (184.8 | ) |  | 17.7 |
Current portion of long-term debt | — |  |  | 166.8 |  |  | 7.0 |  |  | — |  |  | 173.8 |
Total Current Liabilities | 7.8 |  |  | 772.7 |  |  | 159.6 |  |  | (184.8 | ) |  | 755.3 |
Long-term debt | 375.0 |  |  | 937.5 |  |  | — |  |  | — |  |  | 1,312.5 |
Deferred income taxes | — |  |  | 216.9 |  |  | 25.5 |  |  | — |  |  | 242.4 |
Other non-current liabilities | — |  |  | 109.1 |  |  | 6.5 |  |  | — |  |  | 115.6 |
Due to affiliates | 1,606.3 |  |  | 109.2 |  |  | 617.9 |  |  | (2,333.4 | ) |  | — |
Total Liabilities | 1,989.1 |  |  | 2,145.4 |  |  | 809.5 |  |  | (2,518.2 | ) |  | 2,425.8 |
Redeemable non-controlling interest | 14.3 |  |  | 14.3 |  |  | — |  |  | (14.3 | ) |  | 14.3 |
Total Stockholders’ Equity | 299.3 |  |  | 1,967.7 |  |  | (108.9 | ) |  | (1,858.8 | ) |  | 299.3 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity | $ | 2,302.7 |  |  | $ | 4,127.4 |  |  | $ | 700.6 |  |  | $ | (4,391.3 | ) |  | $ | 2,739.4 |
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 income taxes | — |  |  | — |  |  | 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 Nine Months Ended September 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 | $ | (63.3 | ) |  | $ | 158.5 |  |  | $ | 38.0 |  |  | $ | — |  |  | $ | 133.2 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from disposition of business and other | — |  |  | 7.2 |  |  | — |  |  | — |  |  | 7.2 |
Purchases of property, plant and equipment | — |  |  | (40.3 | ) |  | (10.8 | ) |  | — |  |  | (51.1 | )
Other | — |  |  | — |  |  | (0.3 | ) |  | — |  |  | (0.3 | )
Net cash (used in) investing activities | — |  |  | (33.1 | ) |  | (11.1 | ) |  | — |  |  | (44.2 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from issuance of 2023 Notes | — |  |  | 450.0 |  |  | — |  |  | — |  |  | 450.0 |
Proceeds from borrowings under long-term debt obligations | — |  |  | 402.9 |  |  | 2.5 |  |  | — |  |  | 405.4 |
Repayments of borrowings under long-term debt obligations | — |  |  | (974.4 | ) |  | — |  |  | — |  |  | (974.4 | )
Net activity in investment in and advances from (to) subsidiaries and affiliates | 22.8 |  |  | 19.5 |  |  | (42.3 | ) |  |  |  | — |
Proceeds from exercise of stock options | 16.7 |  |  | — |  |  | — |  |  | — |  |  | 16.7 |
Excess tax benefit from stock-based compensation | 19.7 |  |  | — |  |  | — |  |  | — |  |  | 19.7 |
Proceeds from issuance of treasury shares | 5.0 |  |  | — |  |  | — |  |  | — |  |  | 5.0 |
Treasury stock repurchased | (1.3 | ) |  | — |  |  | — |  |  | — |  |  | (1.3 | )
Payment of deferred financing costs | — |  |  | (6.4 | ) |  | — |  |  | — |  |  | (6.4 | )
Other | — |  |  | (2.5 | ) |  | 0.4 |  |  | — |  |  | (2.1 | )
Net cash provided by (used in) financing activities | 62.9 |  |  | (110.9 | ) |  | (39.4 | ) |  | — |  |  | (87.4 | )
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | — |  |  | — |  |  | 7.7 |  |  | — |  |  | 7.7 |
(Decrease) increase in cash and cash equivalents | (0.4 | ) |  | 14.5 |  |  | (4.8 | ) |  | — |  |  | 9.3 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 0.4 |  |  | 25.5 |  |  | 36.6 |  |  | — |  |  | 62.5 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ | — |  |  | $ | 40.0 |  |  | $ | 31.8 |  |  | $ | — |  |  | $ | 71.8 |
TEMPUR SEALY INTERNATIONAL, INC. 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 business, 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 borrowings under long-term debt obligations | — |  |  | 239.5 |  |  | — |  |  | — |  |  | 239.5 |
Repayments of borrowings under long-term debt obligations | — |  |  | (432.7 | ) |  | — |  |  | — |  |  | (432.7 | )
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 | )
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 |

X
- References No definition available. + Details
Name: | us-gaap_CondensedFinancialInformationOfParentCompanyOnlyDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 + Details
Name: | us-gaap_ScheduleOfComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References No definition available. + Details
Name: | us-gaap_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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. + Details
Name: | us-gaap_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration