XML 41 R31.htm IDEA: XBRL DOCUMENT
v3.5.0.2

Guarantor/Non-Guarantor Financial Information (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract] |
Schedule of supplemental condensed consolidated statements of income and comprehensive income | Supplemental Condensed Consolidated Statements of Income and Comprehensive Income Three Months Ended September 30, 2016 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 656.0 |  |  | $ | 191.5 |  |  | $ | (15.1 | ) |  | $ | 832.4 |
Cost of sales | — |  |  | 381.1 |  |  | 104.3 |  |  | (15.1 | ) |  | 470.3 |
Gross profit | — |  |  | 274.9 |  |  | 87.2 |  |  | — |  |  | 362.1 |
Selling and marketing expenses | 1.0 |  |  | 129.6 |  |  | 44.6 |  |  | — |  |  | 175.2 |
General, administrative and other expenses | 4.0 |  |  | 44.5 |  |  | 15.5 |  |  | — |  |  | 64.0 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (2.4 | ) |  | — |  |  | (2.4 | )
Royalty income, net of royalty expense | — |  |  | (5.6 | ) |  | (0.2 | ) |  | — |  |  | (5.8 | )
Operating (loss) income | (5.0 | ) |  | 106.4 |  |  | 29.7 |  |  | — |  |  | 131.1 |
Other expense, net: |  |  |  |  |  |  |  |  |  |  |  |  |
Third party interest expense, net | 15.0 |  |  | 4.7 |  |  | 0.8 |  |  | — |  |  | 20.5 |
Intercompany interest (income) expense, net | (1.0 | ) |  | — |  |  | 1.0 |  |  | — |  |  | — |
Interest expense, net | 14.0 |  |  | 4.7 |  |  | 1.8 |  |  | — |  |  | 20.5 |
Other expense, net | — |  |  | — |  |  | 0.3 |  |  | — |  |  | 0.3 |
Total other expense, net | 14.0 |  |  | 4.7 |  |  | 2.1 |  |  | — |  |  | 20.8 |
Income from equity investees | 89.0 |  |  | 21.1 |  |  | — |  |  | (110.1 | ) |  | — |
Income before income taxes | 70.0 |  |  | 122.8 |  |  | 27.6 |  |  | (110.1 | ) |  | 110.3 |
Income tax benefit (provision) | 6.6 |  |  | (33.8 | ) |  | (6.5 | ) |  | — |  |  | (33.7 | )
Net income before non-controlling interest | 76.6 |  |  | 89.0 |  |  | 21.1 |  |  | (110.1 | ) |  | 76.6 |
Less: Net loss attributable to non-controlling interest | (1.2 | ) |  | (1.2 | ) |  | — |  |  | 1.2 |  |  | (1.2 | )
Net income attributable to Tempur Sealy International, Inc. | $ | 77.8 |  |  | $ | 90.2 |  |  | $ | 21.1 |  |  | $ | (111.3 | ) |  | $ | 77.8 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 72.6 |  |  | $ | 90.5 |  |  | $ | 15.8 |  |  | $ | (106.3 | ) |  | $ | 72.6 |
Supplemental Condensed Consolidated Statements of Income 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 (loss) attributable to Tempur Sealy International, Inc. | $ | 24.6 |  |  | $ | 53.9 |  |  | $ | (21.3 | ) |  | $ | (32.6 | ) |  | $ | 24.6 |
Supplemental Condensed Consolidated Statements of Income and Comprehensive Income Nine Months Ended September 30, 2016 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 1,835.0 |  |  | $ | 566.4 |  |  | $ | (43.6 | ) |  | $ | 2,357.8 |
Cost of sales | — |  |  | 1,106.3 |  |  | 305.1 |  |  | (43.6 | ) |  | 1,367.8 |
Gross profit | — |  |  | 728.7 |  |  | 261.3 |  |  | — |  |  | 990.0 |
Selling and marketing expenses | 3.7 |  |  | 358.0 |  |  | 136.4 |  |  | — |  |  | 498.1 |
General, administrative and other expenses | 12.8 |  |  | 146.3 |  |  | 48.5 |  |  | — |  |  | 207.6 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (8.6 | ) |  | — |  |  | (8.6 | )
Royalty income, net of royalty expense | — |  |  | (15.1 | ) |  | — |  |  | — |  |  | (15.1 | )
Operating (loss) income | (16.5 | ) |  | 239.5 |  |  | 85.0 |  |  | — |  |  | 308.0 |
Other expense, net: |  |  |  |  |  |  |  |  |  |
Third party interest expense, net | 51.1 |  |  | 11.7 |  |  | 2.2 |  |  | — |  |  | 65.0 |
Intercompany interest (income) expense, net | (3.1 | ) |  | (0.1 | ) |  | 3.2 |  |  | — |  |  | — |
Interest expense, net | 48.0 |  |  | 11.6 |  |  | 5.4 |  |  | — |  |  | 65.0 |
Loss on extinguishment of debt | 34.3 |  |  | 12.9 |  |  | — |  |  | — |  |  | 47.2 |
Other (income) expense, net | — |  |  | (1.4 | ) |  | 1.4 |  |  | — |  |  | — |
Total other expense, net | 82.3 |  |  | 23.1 |  |  | 6.8 |  |  | — |  |  | 112.2 |
Income from equity investees | 200.8 |  |  | 62.3 |  |  | — |  |  | (263.1 | ) |  | — |
Income before income taxes | 102.0 |  |  | 278.7 |  |  | 78.2 |  |  | (263.1 | ) |  | 195.8 |
Income tax benefit (provision) | 33.6 |  |  | (77.9 | ) |  | (15.9 | ) |  | — |  |  | (60.2 | )
Net income before non-controlling interest | 135.6 |  |  | 200.8 |  |  | 62.3 |  |  | (263.1 | ) |  | 135.6 |
Less: Net loss attributable to non-controlling interest | (3.1 | ) |  | (3.1 | ) |  | — |  |  | 3.1 |  |  | (3.1 | )
Net income attributable to Tempur Sealy International, Inc. | $ | 138.7 |  |  | $ | 203.9 |  |  | $ | 62.3 |  |  | $ | (266.2 | ) |  | $ | 138.7 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 144.4 |  |  | $ | 204.9 |  |  | $ | 67.2 |  |  | $ | (272.1 | ) |  | $ | 144.4 |
Supplemental Condensed Consolidated Statements of Income 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 (loss) attributable to Tempur Sealy International, Inc. | $ | 40.2 |  |  | $ | 127.5 |  |  | $ | (14.0 | ) |  | $ | (113.5 | ) |  | $ | 40.2 |
Schedule of supplemental condensed consolidated balance sheets | Supplemental Condensed Consolidated Balance Sheets September 30, 2016 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 33.6 |  |  | $ | 55.4 |  |  | $ | — |  |  | $ | 89.0 |
Accounts receivable, net | — |  |  | 265.7 |  |  | 138.6 |  |  | — |  |  | 404.3 |
Inventories, net | — |  |  | 154.5 |  |  | 59.8 |  |  | — |  |  | 214.3 |
Income taxes receivable | 229.0 |  |  | — |  |  | — |  |  | (229.0 | ) |  | — |
Prepaid expenses and other current assets | 0.2 |  |  | 40.2 |  |  | 21.3 |  |  | — |  |  | 61.7 |
Total Current Assets | 229.2 |  |  | 494.0 |  |  | 275.1 |  |  | (229.0 | ) |  | 769.3 |
Property, plant and equipment, net | — |  |  | 303.2 |  |  | 61.9 |  |  | — |  |  | 365.1 |
Goodwill | — |  |  | 501.4 |  |  | 218.3 |  |  | — |  |  | 719.7 |
Other intangible assets, net | — |  |  | 602.8 |  |  | 83.5 |  |  | — |  |  | 686.3 |
Deferred income taxes | 19.6 |  |  | — |  |  | 25.4 |  |  | (19.6 | ) |  | 25.4 |
Other non-current assets | — |  |  | 31.9 |  |  | 148.5 |  |  | — |  |  | 180.4 |
Net investment in subsidiaries | 2,164.3 |  |  | 48.9 |  |  | — |  |  | (2,213.2 | ) |  | — |
Due from affiliates | 414.7 |  |  | 1,632.5 |  |  | 4.0 |  |  | (2,051.2 | ) |  | — |
Total Assets | $ | 2,827.8 |  |  | $ | 3,614.7 |  |  | $ | 816.7 |  |  | $ | (4,513.0 | ) |  | $ | 2,746.2 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | 1.6 |  |  | $ | 185.3 |  |  | $ | 51.0 |  |  | $ | — |  |  | $ | 237.9 |
Accrued expenses and other current liabilities | 23.3 |  |  | 190.2 |  |  | 71.6 |  |  | — |  |  | 285.1 |
Income taxes payable | — |  |  | 242.2 |  |  | 9.9 |  |  | (229.0 | ) |  | 23.1 |
Current portion of long-term debt | — |  |  | 32.3 |  |  | 33.8 |  |  | — |  |  | 66.1 |
Total Current Liabilities | 24.9 |  |  | 650.0 |  |  | 166.3 |  |  | (229.0 | ) |  | 612.2 |
Long-term debt, net | 1,040.1 |  |  | 578.9 |  |  | — |  |  | — |  |  | 1,619.0 |
Deferred income taxes | — |  |  | 190.1 |  |  | 21.7 |  |  | (19.6 | ) |  | 192.2 |
Other non-current liabilities | — |  |  | 30.1 |  |  | 132.1 |  |  | — |  |  | 162.2 |
Due to affiliates | 1,602.2 |  |  | 1.3 |  |  | 447.7 |  |  | (2,051.2 | ) |  | — |
Total Liabilities | 2,667.2 |  |  | 1,450.4 |  |  | 767.8 |  |  | (2,299.8 | ) |  | 2,585.6 |
Redeemable non-controlling interest | 9.3 |  |  | 9.3 |  |  | — |  |  | (9.3 | ) |  | 9.3 |
Total Stockholders’ Equity | 151.3 |  |  | 2,155.0 |  |  | 48.9 |  |  | (2,203.9 | ) |  | 151.3 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity | $ | 2,827.8 |  |  | $ | 3,614.7 |  |  | $ | 816.7 |  |  | $ | (4,513.0 | ) |  | $ | 2,746.2 |
Supplemental Condensed Consolidated Balance Sheets December 31, 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 | $ | — |  |  | $ | 121.8 |  |  | $ | 32.1 |  |  | $ | — |  |  | $ | 153.9 |
Accounts receivable, net | — |  |  | 231.9 |  |  | 147.5 |  |  | — |  |  | 379.4 |
Inventories, net | — |  |  | 145.3 |  |  | 53.9 |  |  | — |  |  | 199.2 |
Income taxes receivable | 193.1 |  |  | — |  |  | — |  |  | (193.1 | ) |  | — |
Prepaid expenses and other current assets | — |  |  | 43.5 |  |  | 33.1 |  |  | — |  |  | 76.6 |
Total Current Assets | 193.1 |  |  | 542.5 |  |  | 266.6 |  |  | (193.1 | ) |  | 809.1 |
Property, plant and equipment, net | — |  |  | 300.1 |  |  | 61.6 |  |  | — |  |  | 361.7 |
Goodwill | — |  |  | 501.4 |  |  | 208.0 |  |  | — |  |  | 709.4 |
Other intangible assets, net | — |  |  | 612.9 |  |  | 82.5 |  |  | — |  |  | 695.4 |
Deferred income taxes | 16.0 |  |  | — |  |  | 12.2 |  |  | (16.0 | ) |  | 12.2 |
Other non-current assets | — |  |  | 23.3 |  |  | 44.4 |  |  | — |  |  | 67.7 |
Net investment in subsidiaries | 1,960.5 |  |  | — |  |  | — |  |  | (1,960.5 | ) |  | — |
Due from affiliates | 548.1 |  |  | 1,655.3 |  |  | 4.8 |  |  | (2,208.2 | ) |  | — |
Total Assets | $ | 2,717.7 |  |  | $ | 3,635.5 |  |  | $ | 680.1 |  |  | $ | (4,377.8 | ) |  | $ | 2,655.5 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 212.2 |  |  | $ | 54.1 |  |  | $ | — |  |  | $ | 266.3 |
Accrued expenses and other current liabilities | 1.4 |  |  | 183.8 |  |  | 68.8 |  |  | — |  |  | 254.0 |
Income taxes payable | — |  |  | 196.0 |  |  | 8.3 |  |  | (193.1 | ) |  | 11.2 |
Current portion of long-term debt | — |  |  | 168.7 |  |  | 12.8 |  |  | — |  |  | 181.5 |
Total Current Liabilities | 1.4 |  |  | 760.7 |  |  | 144.0 |  |  | (193.1 | ) |  | 713.0 |
Long-term debt, net | 811.9 |  |  | 461.4 |  |  | — |  |  | — |  |  | 1,273.3 |
Deferred income taxes | — |  |  | 189.8 |  |  | 21.6 |  |  | (16.0 | ) |  | 195.4 |
Other non-current liabilities | — |  |  | 166.6 |  |  | 4.6 |  |  | — |  |  | 171.2 |
Due to affiliates | 1,601.8 |  |  | 96.5 |  |  | 604.9 |  |  | (2,303.2 | ) |  | — |
Total Liabilities | 2,415.1 |  |  | 1,675.0 |  |  | 775.1 |  |  | (2,512.3 | ) |  | 2,352.9 |
Redeemable non-controlling interest | 12.4 |  |  | 12.4 |  |  | — |  |  | (12.4 | ) |  | 12.4 |
Total Stockholders’ Equity | 290.2 |  |  | 1,948.1 |  |  | (95.0 | ) |  | (1,853.1 | ) |  | 290.2 |
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity | $ | 2,717.7 |  |  | $ | 3,635.5 |  |  | $ | 680.1 |  |  | $ | (4,377.8 | ) |  | $ | 2,655.5 |
Schedule of supplemental condensed consolidated statements of cash flows | Supplemental Condensed Consolidated Statements of Cash Flows Nine Months Ended September 30, 2016 (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 | $ | (30.4 | ) |  | $ | 38.2 |  |  | $ | 102.0 |  |  | $ | — |  |  | $ | 109.8 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | — |  |  | (33.2 | ) |  | (8.7 | ) |  | — |  |  | (41.9 | )
Contributions (paid to) received from subsidiaries and affiliates | — |  |  | (76.8 | ) |  | 76.8 |  |  | — |  |  | — |
Net cash (used in) provided by investing activities | — |  |  | (110.0 | ) |  | 68.1 |  |  | — |  |  | (41.9 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under long-term debt obligations | 600.0 |  |  | 1,214.6 |  |  | 56.9 |  |  | — |  |  | 1,871.5 |
Repayments of borrowings under long-term debt obligations | (375.0 | ) |  | (1,246.6 | ) |  | (37.7 | ) |  | — |  |  | (1,659.3 | )
Net activity in investment in and advances from (to) subsidiaries and affiliates | 136.5 |  |  | 22.6 |  |  | (159.1 | ) |  |  |  | — |
Proceeds from exercise of stock options | 15.2 |  |  | — |  |  | — |  |  | — |  |  | 15.2 |
Excess tax benefit from stock-based compensation | 6.0 |  |  | — |  |  | — |  |  | — |  |  | 6.0 |
Treasury stock repurchased | (319.7 | ) |  | — |  |  | — |  |  | — |  |  | (319.7 | )
Payment of deferred financing costs | (3.0 | ) |  | (3.6 | ) |  | — |  |  | — |  |  | (6.6 | )
Fees paid to lenders | (6.0 | ) |  | (1.8 | ) |  | — |  |  | — |  |  | (7.8 | )
Call premium on 2020 Senior Notes | (23.6 | ) |  | — |  |  | — |  |  | — |  |  | (23.6 | )
Other | — |  |  | (1.6 | ) |  | 1.7 |  |  | — |  |  | 0.1 |
Net cash provided by (used in) financing activities | 30.4 |  |  | (16.4 | ) |  | (138.2 | ) |  | — |  |  | (124.2 | )
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | — |  |  | — |  |  | (8.6 | ) |  | — |  |  | (8.6 | )
(Decrease) increase in cash and cash equivalents | — |  |  | (88.2 | ) |  | 23.3 |  |  | — |  |  | (64.9 | )
CASH AND CASH EQUIVALENTS, beginning of period | — |  |  | 121.8 |  |  | 32.1 |  |  | — |  |  | 153.9 |
CASH AND CASH EQUIVALENTS, end of period | $ | — |  |  | $ | 33.6 |  |  | $ | 55.4 |  |  | $ | — |  |  | $ | 89.0 |
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: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | — |  |  | (40.3 | ) |  | (10.8 | ) |  | — |  |  | (51.1 | )
Proceeds from disposition of business and other | — |  |  | 7.2 |  |  | (0.3 | ) |  |  |  | 6.9 |
Net cash used in investing activities | — |  |  | (33.1 | ) |  | (11.1 | ) |  | — |  |  | (44.2 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under long-term debt obligations | — |  |  | 852.9 |  |  | 2.5 |  |  | — |  |  | 855.4 |
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 |
Treasury stock repurchased | (1.3 | ) |  | — |  |  | — |  |  | — |  |  | (1.3 | )
Payment of deferred financing costs |  |  |  | (6.4 | ) |  | — |  |  | — |  |  | (6.4 | )
Proceeds from purchase of treasury shares by CEO | 5.0 |  |  | — |  |  | — |  |  | — |  |  | 5.0 |
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 |

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=66004124&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