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v3.19.2

Guarantor/Non-Guarantor Financial Information (Tables) | 6 Months Ended
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Jun. 30, 2019
Condensed Financial Information 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 June 30, 2019 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Reclassifications and Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 550.3 |  |  | $ | 187.9 |  |  | $ | (15.4 | ) |  | $ | 722.8 |
Cost of sales | — |  |  | 318.0 |  |  | 106.8 |  |  | (15.4 | ) |  | 409.4 |
Gross profit | — |  |  | 232.3 |  |  | 81.1 |  |  | — |  |  | 313.4 |
Selling and marketing expenses | 2.7 |  |  | 114.8 |  |  | 45.8 |  |  | — |  |  | 163.3 |
General, administrative and other expenses | 4.2 |  |  | 55.8 |  |  | 13.9 |  |  | (1.2 | ) |  | 72.7 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (3.6 | ) |  | — |  |  | (3.6 | )
Operating (loss) income | (6.9 | ) |  | 61.7 |  |  | 25.0 |  |  | 1.2 |  |  | 81.0 |
Other expense, net: |  |  |  |  |  |  |  |  |  |  |  |  |
Third party interest expense, net | 14.1 |  |  | 6.9 |  |  | 1.5 |  |  | — |  |  | 22.5 |
Intercompany interest (income) expense, net | (2.5 | ) |  | 3.2 |  |  | (0.7 | ) |  | — |  |  | — |
Interest expense, net | 11.6 |  |  | 10.1 |  |  | 0.8 |  |  | — |  |  | 22.5 |
Other (income) expense, net | — |  |  | (3.7 | ) |  | 3.7 |  |  | — |  |  | — |
Total other expense, net | 11.6 |  |  | 6.4 |  |  | 4.5 |  |  | — |  |  | 22.5 |
Income from equity investees | 56.3 |  |  | 14.3 |  |  | — |  |  | (70.6 | ) |  | — |
Income from continuing operations before income taxes | 37.8 |  |  | 69.6 |  |  | 20.5 |  |  | (69.4 | ) |  | 58.5 |
Income tax benefit (provision) | 3.7 |  |  | (13.3 | ) |  | (6.2 | ) |  | — |  |  | (15.8 | )
Income from continuing operations | 41.5 |  |  | 56.3 |  |  | 14.3 |  |  | (69.4 | ) |  | 42.7 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | — |  |  | (1.2 | ) |  | (1.2 | )
Net income before non-controlling interest | 41.5 |  |  | 56.3 |  |  | 14.3 |  |  | (70.6 | ) |  | 41.5 |
Less: Net income attributable to non-controlling interest | (0.1 | ) |  | — |  |  | (0.1 | ) |  | 0.1 |  |  | (0.1 | )
Net income attributable to Tempur Sealy International, Inc. | $ | 41.6 |  |  | $ | 56.3 |  |  | $ | 14.4 |  |  | $ | (70.7 | ) |  | $ | 41.6 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 44.6 |  |  | $ | 55.5 |  |  | $ | 18.2 |  |  | $ | (73.7 | ) |  | $ | 44.6 |
Supplemental Condensed Consolidated Statements of Income and Comprehensive Income Three Months Ended June 30, 2018 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Reclassifications and Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 482.7 |  |  | $ | 202.9 |  |  | $ | (25.7 | ) |  | $ | 659.9 |
Cost of sales | — |  |  | 289.4 |  |  | 120.1 |  |  | (22.4 | ) |  | 387.1 |
Gross profit | — |  |  | 193.3 |  |  | 82.8 |  |  | (3.3 | ) |  | 272.8 |
Selling and marketing expenses | 2.1 |  |  | 103.5 |  |  | 51.8 |  |  | (4.1 | ) |  | 153.3 |
General, administrative and other expenses | 5.0 |  |  | 45.6 |  |  | 16.4 |  |  | (1.7 | ) |  | 65.3 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (3.8 | ) |  | — |  |  | (3.8 | )
Operating (loss) income | (7.1 | ) |  | 44.2 |  |  | 18.4 |  |  | 2.5 |  |  | 58.0 |
Other expense, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Third party interest expense, net | 14.9 |  |  | 7.5 |  |  | 2.1 |  |  | (1.3 | ) |  | 23.2 |
Intercompany interest (income) expense, net | (1.7 | ) |  | 2.1 |  |  | (0.4 | ) |  | — |  |  | — |
Interest expense, net | 13.2 |  |  | 9.6 |  |  | 1.7 |  |  | (1.3 | ) |  | 23.2 |
Other (income) expense, net | — |  |  | (3.5 | ) |  | 4.7 |  |  | (1.8 | ) |  | (0.6 | )
Total other expense, net | 13.2 |  |  | 6.1 |  |  | 6.4 |  |  | (3.1 | ) |  | 22.6 |
Income from equity investees | 37.2 |  |  | 7.8 |  |  | — |  |  | (45.0 | ) |  | — |
Income from continuing operations before income taxes | 16.9 |  |  | 45.9 |  |  | 12.0 |  |  | (39.4 | ) |  | 35.4 |
Income tax benefit (provision) | 4.3 |  |  | (8.7 | ) |  | (4.2 | ) |  | (0.2 | ) |  | (8.8 | )
Income from continuing operations | 21.2 |  |  | 37.2 |  |  | 7.8 |  |  | (39.6 | ) |  | 26.6 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | — |  |  | (5.4 | ) |  | (5.4 | )
Net income before non-controlling interest | 21.2 |  |  | 37.2 |  |  | 7.8 |  |  | (45.0 | ) |  | 21.2 |
Less: Net loss attributable to non-controlling interest | (1.6 | ) |  | — |  |  | (1.6 | ) |  | 1.6 |  |  | (1.6 | )
Net income attributable to Tempur Sealy International, Inc. | $ | 22.8 |  |  | $ | 37.2 |  |  | $ | 9.4 |  |  | $ | (46.6 | ) |  | $ | 22.8 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 6.7 |  |  | $ | 36.9 |  |  | $ | (6.7 | ) |  | $ | (30.2 | ) |  | $ | 6.7 |
Supplemental Condensed Consolidated Statements of Income and Comprehensive Income Six Months Ended June 30, 2019 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Reclassifications and Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 1,064.2 |  |  | $ | 381.2 |  |  | $ | (31.7 | ) |  | $ | 1,413.7 |
Cost of sales | — |  |  | 634.3 |  |  | 215.9 |  |  | (31.7 | ) |  | 818.5 |
Gross profit | — |  |  | 429.9 |  |  | 165.3 |  |  | — |  |  | 595.2 |
Selling and marketing expenses | 5.5 |  |  | 216.1 |  |  | 95.3 |  |  | (0.1 | ) |  | 316.8 |
General, administrative and other expenses | 8.5 |  |  | 108.5 |  |  | 28.2 |  |  | (1.8 | ) |  | 143.4 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (6.5 | ) |  | — |  |  | (6.5 | )
Operating (loss) income | (14.0 | ) |  | 105.3 |  |  | 48.3 |  |  | 1.9 |  |  | 141.5 |
|  |  |  |  |  |  |  |  | — |
Other expense, net: |  |  |  |  |  |  |  |  |
Third party interest expense, net | 28.2 |  |  | 14.5 |  |  | 2.2 |  |  | — |  |  | 44.9 |
Intercompany interest (income) expense, net | (5.1 | ) |  | 5.4 |  |  | (0.3 | ) |  | — |  |  | — |
Interest expense, net | 23.1 |  |  | 19.9 |  |  | 1.9 |  |  | — |  |  | 44.9 |
Other income, net | — |  |  | (6.6 | ) |  | (1.5 | ) |  | 0.3 |  | — |  | (7.8 | )
Total other expense, net | 23.1 |  |  | 13.3 |  |  | 0.4 |  |  | 0.3 |  |  | 37.1 |
Income from equity investees | 100.5 |  |  | 36.4 |  |  | — |  |  | (136.9 | ) |  | — |
Income from continuing operations before income taxes | 63.4 |  |  | 128.4 |  |  | 47.9 |  |  | (135.3 | ) |  | 104.4 |
Income tax benefit (provision) | 6.7 |  |  | (27.9 | ) |  | (11.5 | ) |  | — |  |  | (32.7 | )
Income from continuing operations | 70.1 |  |  | 100.5 |  |  | 36.4 |  |  | (135.3 | ) |  | 71.7 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | — |  |  | (1.6 | ) |  | (1.6 | )
Net income before non-controlling interest | 70.1 |  |  | 100.5 |  |  | 36.4 |  |  | (136.9 | ) |  | 70.1 |
Less: Net income attributable to non-controlling interest | 0.1 |  |  | — |  |  | 0.1 |  |  | (0.1 | ) |  | 0.1 |
Net income attributable to Tempur Sealy International, Inc. | $ | 70.0 |  |  | $ | 100.5 |  |  | $ | 36.3 |  |  | $ | (136.8 | ) |  | $ | 70.0 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 77.0 |  |  | $ | 102.0 |  |  | $ | 41.8 |  |  | $ | (143.8 | ) |  | $ | 77.0 |
Supplemental Condensed Consolidated Statements of Income and Comprehensive Income Six Months Ended June 30, 2018 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Reclassifications and Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 923.3 |  |  | $ | 427.7 |  |  | $ | (53.7 | ) |  | $ | 1,297.3 |
Cost of sales | — |  |  | 555.8 |  |  | 251.2 |  |  | (47.2 | ) |  | 759.8 |
Gross profit | — |  |  | 367.5 |  |  | 176.5 |  |  | (6.5 | ) |  | 537.5 |
Selling and marketing expenses | 4.0 |  |  | 196.6 |  |  | 105.7 |  |  | (7.6 | ) |  | 298.7 |
General, administrative and other expenses | 9.7 |  |  | 93.0 |  |  | 33.3 |  |  | (3.2 | ) |  | 132.8 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (7.7 | ) |  | — |  |  | (7.7 | )
Operating (loss) income | (13.7 | ) |  | 77.9 |  |  | 45.2 |  |  | 4.3 |  |  | 113.7 |
Other expense, net: |  |  |  |  |  |  |  |  |  |  |  |  |
Third party interest expense, net | 29.9 |  |  | 14.5 |  |  | 3.0 |  |  | (1.5 | ) |  | 45.9 |
Intercompany interest (income) expense, net | (3.6 | ) |  | 3.9 |  |  | (0.3 | ) |  | — |  |  | — |
Interest expense, net | 26.3 |  |  | 18.4 |  |  | 2.7 |  |  | (1.5 | ) |  | 45.9 |
Other (income) expense, net | — |  |  | (5.8 | ) |  | 5.2 |  |  | (2.6 | ) |  | (3.2 | )
Total other expense, net | 26.3 |  |  | 12.6 |  |  | 7.9 |  |  | (4.1 | ) |  | 42.7 |
Income from equity investees | 76.3 |  |  | 26.8 |  |  | — |  |  | (103.1 | ) |  | — |
Income from continuing operations before income taxes | 36.3 |  |  | 92.1 |  |  | 37.3 |  |  | (94.7 | ) |  | 71.0 |
Income tax benefit (provision) | 7.7 |  |  | (15.8 | ) |  | (10.5 | ) |  | (0.2 | ) |  | (18.8 | )
Income from continuing operations | 44.0 |  |  | 76.3 |  |  | 26.8 |  |  | (94.9 | ) |  | 52.2 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | — |  |  | (8.2 | ) |  | (8.2 | )
Net income before non-controlling interest | 44.0 |  |  | 76.3 |  |  | 26.8 |  |  | (103.1 | ) |  | 44.0 |
Less: Net loss attributable to non-controlling interest | (1.9 | ) |  | — |  |  | (1.9 | ) |  | 1.9 |  |  | (1.9 | )
Net income attributable to Tempur Sealy International, Inc. | $ | 45.9 |  |  | $ | 76.3 |  |  | $ | 28.7 |  |  | $ | (105.0 | ) |  | $ | 45.9 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 34.2 |  |  | $ | 75.4 |  |  | $ | 17.6 |  |  | $ | (93.0 | ) |  | $ | 34.2 |
Schedule of supplemental condensed consolidated balance sheets | Supplemental Condensed Consolidated Balance Sheets June 30, 2019 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Reclassifications and Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | — |  |  | $ | 13.5 |  |  | $ | 24.8 |  |  | $ | — |  |  | $ | 38.3 |
Accounts receivable, net | 0.1 |  |  | 17.0 |  |  | 310.2 |  |  | 59.0 |  |  | 386.3 |
Inventories | — |  |  | 180.2 |  |  | 62.9 |  |  | — |  |  | 243.1 |
Prepaid expenses and other current assets | 286.3 |  |  | 61.1 |  |  | 159.3 |  |  | (282.7 | ) |  | 224.0 |
Total Current Assets | 286.4 |  |  | 271.8 |  |  | 557.2 |  |  | (223.7 | ) |  | 891.7 |
Property, plant and equipment, net | — |  |  | 358.4 |  |  | 71.6 |  |  | — |  |  | 430.0 |
Goodwill | — |  |  | 510.9 |  |  | 221.4 |  |  | — |  |  | 732.3 |
Other intangible assets, net | — |  |  | 570.8 |  |  | 79.8 |  |  | — |  |  | 650.6 |
Operating lease right-of-use assets | — |  |  | 179.7 |  |  | 48.4 |  |  | — |  |  | 228.1 |
Deferred income taxes | 14.1 |  |  | — |  |  | 12.6 |  |  | (14.2 | ) |  | 12.5 |
Other non-current assets | — |  |  | 53.9 |  |  | 47.6 |  |  | — |  |  | 101.5 |
Net investment in subsidiaries | 752.7 |  |  | 184.2 |  |  | — |  |  | (936.9 | ) |  | — |
Due from affiliates | 423.0 |  |  | 152.8 |  |  | 13.2 |  |  | (589.0 | ) |  | — |
Total Assets | $ | 1,476.2 |  |  | $ | 2,282.5 |  |  | $ | 1,051.8 |  |  | $ | (1,763.8 | ) |  | $ | 3,046.7 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 126.2 |  |  | $ | 50.3 |  |  | $ | 59.0 |  |  | $ | 235.5 |
Accrued expenses and other current liabilities | 6.8 |  |  | 217.2 |  |  | 212.4 |  |  | — |  |  | 436.4 |
Current portion of long-term debt | — |  |  | 52.4 |  |  | 7.7 |  |  | — |  |  | 60.1 |
Income taxes payable | — |  |  | 279.9 |  |  | 9.5 |  |  | (282.7 | ) |  | 6.7 |
Total Current Liabilities | 6.8 |  |  | 675.7 |  |  | 279.9 |  |  | (223.7 | ) |  | 738.7 |
Long-term debt, net | 1,043.7 |  |  | 447.7 |  |  | 94.1 |  |  | — |  |  | 1,585.5 |
Long-term operating lease obligations | — |  |  | 153.3 |  |  | 33.4 |  |  | — |  |  | 186.7 |
Deferred income taxes | — |  |  | 115.2 |  |  | 16.0 |  |  | (14.2 | ) |  | 117.0 |
Other non-current liabilities | 1.3 |  |  | 56.5 |  |  | 55.1 |  |  | — |  |  | 112.9 |
Due to affiliates | 118.5 |  |  | 81.4 |  |  | 389.1 |  |  | (589.0 | ) |  | — |
Total Liabilities | 1,170.3 |  |  | 1,529.8 |  |  | 867.6 |  |  | (826.9 | ) |  | 2,740.8 |
Total Stockholders' Equity | 305.9 |  |  | 752.7 |  |  | 184.2 |  |  | (936.9 | ) |  | 305.9 |
Total Liabilities and Stockholders’ Equity | $ | 1,476.2 |  |  | $ | 2,282.5 |  |  | $ | 1,051.8 |  |  | $ | (1,763.8 | ) |  | $ | 3,046.7 |
Supplemental Condensed Consolidated Balance Sheets December 31, 2018 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Reclassifications and Eliminations |  | Consolidated
ASSETS |  |  |  |  |  |  |  |  |
Current Assets: |  |  |  |  |  |  |  |  |
Cash and cash equivalents | $ | 0.1 |  |  | $ | 6.2 |  |  | $ | 39.5 |  |  | $ | — |  |  | $ | 45.8 |
Accounts receivable, net | — |  |  | 15.2 |  |  | 303.3 |  |  | 3.0 |  |  | 321.5 |
Inventories | — |  |  | 159.4 |  |  | 62.9 |  |  | — |  |  | 222.3 |
Prepaid expenses and other current assets | 276.9 |  |  | 65.4 |  |  | 148.1 |  |  | (274.6 | ) |  | 215.8 |
Total Current Assets | 277.0 |  |  | 246.2 |  |  | 553.8 |  |  | (271.6 | ) |  | 805.4 |
Property, plant and equipment, net | — |  |  | 350.7 |  |  | 70.1 |  |  | — |  |  | 420.8 |
Goodwill | — |  |  | 508.8 |  |  | 214.2 |  |  | — |  |  | 723.0 |
Other intangible assets, net | — |  |  | 572.7 |  |  | 76.6 |  |  | — |  |  | 649.3 |
Deferred income taxes | 15.0 |  |  | — |  |  | 22.6 |  |  | (15.0 | ) |  | 22.6 |
Other non-current assets | — |  |  | 49.2 |  |  | 45.1 |  |  | — |  |  | 94.3 |
Net investment in subsidiaries | 661.7 |  |  | 210.0 |  |  | — |  |  | (871.7 | ) |  | — |
Due from affiliates | 422.1 |  |  | 153.8 |  |  | 15.4 |  |  | (591.3 | ) |  | — |
Total Assets | $ | 1,375.8 |  |  | $ | 2,091.4 |  |  | $ | 997.8 |  |  | $ | (1,749.6 | ) |  | $ | 2,715.4 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 186.7 |  |  | $ | 63.3 |  |  | $ | 3.0 |  |  | $ | 253.0 |
Accrued expenses and other current liabilities | 6.7 |  |  | 143.9 |  |  | 208.6 |  |  | — |  |  | 359.2 |
Current portion of long-term debt | — |  |  | 44.0 |  |  | 3.1 |  |  | — |  |  | 47.1 |
Income taxes payable | — |  |  | 274.7 |  |  | 9.6 |  |  | (274.6 | ) |  | 9.7 |
Total Current Liabilities | 6.7 |  |  | 649.3 |  |  | 284.6 |  |  | (271.6 | ) |  | 669.0 |
Long-term debt, net | 1,043.0 |  |  | 547.1 |  |  | 9.0 |  |  | — |  |  | 1,599.1 |
Deferred income taxes | — |  |  | 118.0 |  |  | 14.5 |  |  | (15.0 | ) |  | 117.5 |
Other non-current liabilities | 1.9 |  |  | 58.2 |  |  | 52.2 |  |  | — |  |  | 112.3 |
Due from affiliates | 106.7 |  |  | 57.1 |  |  | 427.5 |  |  | (591.3 | ) |  | — |
Total Liabilities | 1,158.3 |  |  | 1,429.7 |  |  | 787.8 |  |  | (877.9 | ) |  | 2,497.9 |
Total Stockholders' Equity | 217.5 |  |  | 661.7 |  |  | 210.0 |  |  | (871.7 | ) |  | 217.5 |
Total Liabilities and Stockholders’ Equity | $ | 1,375.8 |  |  | $ | 2,091.4 |  |  | $ | 997.8 |  |  | $ | (1,749.6 | ) |  | $ | 2,715.4 |
Schedule of supplemental condensed consolidated statements of cash flows | Supplemental Condensed Consolidated Statements of Cash Flows Six Months Ended June 30, 2019 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Reclassifications and Eliminations |  | Consolidated
Net cash (used in) provided by operating activities from continuing operations | $ | (24.3 | ) |  | $ | 63.6 |  |  | $ | 4.6 |  |  | $ | 2.0 |  |  | $ | 45.9 |
CASH FLOWS FROM INVESTING ACTIVITIES FROM CONTINUING OPERATIONS: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | — |  |  | (33.5 | ) |  | (6.4 | ) |  | — |  |  | (39.9 | )
Acquisition of business | — |  |  | (9.0 | ) |  | (8.1 | ) |  | — |  |  | (17.1 | )
Other | — |  |  | 0.1 |  |  | 10.2 |  |  | — |  |  | 10.3 |
Contributions received from (paid to) subsidiaries and affiliates | — |  |  | 65.8 |  |  | (65.8 | ) |  | — |  |  | — |
Net cash provided by (used in) investing activities from continuing operations | — |  |  | 23.4 |  |  | (70.1 | ) |  | — |  |  | (46.7 | )
CASH FLOWS FROM FINANCING ACTIVITIES FROM CONTINUING OPERATIONS: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under long-term debt obligations | — |  |  | 161.9 |  |  | 347.3 |  |  | — |  |  | 509.2 |
Repayments of borrowings under long-term debt obligations | — |  |  | (251.9 | ) |  | (257.9 | ) |  | — |  |  | (509.8 | )
Net activity in investment in and advances from (to) subsidiaries and affiliates | 24.2 |  |  | 13.6 |  |  | (37.8 | ) |  | — |  |  | — |
Proceeds from issuance of stock options | 5.5 |  |  | — |  |  | — |  |  | — |  |  | 5.5 |
Treasury stock repurchased | (5.5 | ) |  | — |  |  | — |  |  | — |  |  | (5.5 | )
Other | — |  |  | (3.3 | ) |  | (0.1 | ) |  | — |  |  | (3.4 | )
Net cash provided by (used in) financing activities from continuing operations | 24.2 |  |  | (79.7 | ) |  | 51.5 |  |  | — |  |  | (4.0 | )
Net cash (used in) provided by continuing operations | (0.1 | ) |  | 7.3 |  |  | (14.0 | ) |  | 2.0 |  |  | (4.8 | )
CASH USED IN DISCONTINUED OPERATIONS |  |  |  |  |  |  |  |  |
Operating cash flows, net | — |  |  | — |  |  | — |  |  | (2.0 | ) |  | (2.0 | )
Investing cash flows, net | — |  |  | — |  |  | — |  |  | — |  |  | — |
Financing cash flows, net | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net cash used in discontinued operations | — |  |  | — |  |  | — |  |  | (2.0 | ) |  | (2.0 | )
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | — |  |  | — |  |  | (0.7 | ) |  | — |  |  | (0.7 | )
(Decrease)/increase in cash and cash equivalents | (0.1 | ) |  | 7.3 |  |  | (14.7 | ) |  | — |  |  | (7.5 | )
CASH AND CASH EQUIVALENTS, beginning of period | 0.1 |  |  | 6.2 |  |  | 39.5 |  |  | — |  |  | 45.8 |
CASH AND CASH EQUIVALENTS, end of period | $ | — |  |  | $ | 13.5 |  |  | $ | 24.8 |  |  | $ | — |  |  | $ | 38.3 |
Supplemental Condensed Consolidated Statements of Cash Flows Six Months Ended June 30, 2018 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Reclassifications and Eliminations |  | Consolidated
Net cash (used in) provided by operating activities from continuing operations | $ | (30.0 | ) |  | $ | 4.1 |  |  | $ | 27.5 |  |  | $ | 15.8 |  |  | $ | 17.4 |
CASH FLOWS FROM INVESTING ACTIVITIES FROM CONTINUING OPERATIONS: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | — |  |  | (34.1 | ) |  | (6.5 | ) |  | 0.1 |  |  | (40.5 | )
Other | — |  |  | 0.1 |  |  | 0.5 |  |  | — |  |  | 0.6 |
Contributions received from (paid to) subsidiaries and affiliates | — |  |  | 50.9 |  |  | (50.9 | ) |  | — |  |  | — |
Net cash provided by (used in) investing activities from continuing operations | — |  |  | 16.9 |  |  | (56.9 | ) |  | 0.1 |  |  | (39.9 | )
CASH FLOWS FROM FINANCING ACTIVITIES FROM CONTINUING OPERATIONS: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under long-term debt obligations | — |  |  | 335.6 |  |  | 396.6 |  |  | — |  |  | 732.2 |
Repayments of borrowings under long-term debt obligations | — |  |  | (350.6 | ) |  | (347.2 | ) |  | — |  |  | (697.8 | )
Net activity in investment in and advances from (to) subsidiaries and affiliates | 30.3 |  |  | (4.3 | ) |  | (26.0 | ) |  | — |  |  | — |
Proceeds from exercise of stock options | 2.6 |  |  | — |  |  | — |  |  | — |  |  | 2.6 |
Treasury stock repurchased | (3.0 | ) |  | — |  |  | — |  |  | — |  |  | (3.0 | )
Other | — |  |  | (2.7 | ) |  | (0.7 | ) |  | — |  |  | (3.4 | )
Net cash provided by (used in) financing activities from continuing operations | 29.9 |  |  | (22.0 | ) |  | 22.7 |  |  | — |  |  | 30.6 |
Net cash (used in) provided by continuing operations | (0.1 | ) |  | (1.0 | ) |  | (6.7 | ) |  | 15.9 |  |  | 8.1 |
CASH USED IN DISCONTINUED OPERATIONS |  |  |  |  |  |  |  |  |
Operating cash flows, net | — |  |  | — |  |  | — |  |  | (15.8 | ) |  | (15.8 | )
Investing cash flows, net | — |  |  | — |  |  | — |  |  | (0.1 | ) |  | (0.1 | )
Financing cash flows, net | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net cash used in discontinued operations | — |  |  | — |  |  | — |  |  | (15.9 | ) |  | (15.9 | )
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | — |  |  | — |  |  | (1.5 | ) |  | — |  |  | (1.5 | )
Decrease in cash and cash equivalents | (0.1 | ) |  | (1.0 | ) |  | (8.2 | ) |  | — |  |  | (9.3 | )
CASH AND CASH EQUIVALENTS, beginning of period | 0.1 |  |  | 12.3 |  |  | 29.5 |  |  | — |  |  | 41.9 |
CASH AND CASH EQUIVALENTS, end of period | — |  |  | 11.3 |  |  | 21.3 |  |  | — |  |  | 32.6 |
LESS: CASH AND CASH EQUIVALENTS OF DISCONTINUED OPERATIONS | — |  |  | — |  |  | 1.6 |  |  | — |  |  | 1.6 |
CASH AND CASH EQUIVALENTS OF CONTINUING OPERATIONS | $ | — |  |  | $ | 11.3 |  |  | $ | 19.7 |  |  | $ | — |  |  | $ | 31.0 |

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