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v3.19.3

Guarantor/Non-Guarantor Financial Information (Tables) | 9 Months Ended
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Sep. 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 September 30, 2019 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Reclassifications and Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 641.9 |  |  | $ | 200.1 |  |  | $ | (21.0 | ) |  | $ | 821.0 |
Cost of sales | — |  |  | 366.5 |  |  | 114.9 |  |  | (21.0 | ) |  | 460.4 |
Gross profit | — |  |  | 275.4 |  |  | 85.2 |  |  | — |  |  | 360.6 |
Selling and marketing expenses | 2.8 |  |  | 119.8 |  |  | 46.0 |  |  | — |  |  | 168.6 |
General, administrative and other expenses | 4.3 |  |  | 57.1 |  |  | 14.2 |  |  | (0.3 | ) |  | 75.3 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (3.9 | ) |  | — |  |  | (3.9 | )
Operating (loss) income | (7.1 | ) |  | 98.5 |  |  | 28.9 |  |  | 0.3 |  |  | 120.6 |
Other expense (income), net: |  |  |  |  |  |  |  |  |  |  |  |  |
Third party interest expense, net | 14.0 |  |  | 6.4 |  |  | 0.4 |  |  | — |  |  | 20.8 |
Intercompany interest (income) expense, net | (2.4 | ) |  | 3.4 |  |  | (1.0 | ) |  | — |  |  | — |
Interest expense (income), net | 11.6 |  |  | 9.8 |  |  | (0.6 | ) |  | — |  |  | 20.8 |
Other expense (income), net | — |  |  | 1.5 |  |  | (1.4 | ) |  | 1.2 |  |  | 1.3 |
Total other expense (income), net | 11.6 |  |  | 11.3 |  |  | (2.0 | ) |  | 1.2 |  |  | 22.1 |
Income from equity investees | 88.8 |  |  | 21.6 |  |  | — |  |  | (110.4 | ) |  | — |
Income from continuing operations before income taxes | 70.1 |  |  | 108.8 |  |  | 30.9 |  |  | (111.3 | ) |  | 98.5 |
Income tax benefit (provision) | 3.1 |  |  | (20.0 | ) |  | (9.3 | ) |  | 0.1 |  |  | (26.1 | )
Income from continuing operations | 73.2 |  |  | 88.8 |  |  | 21.6 |  |  | (111.2 | ) |  | 72.4 |
Income from discontinued operations, net of tax | — |  |  | — |  |  | — |  |  | 0.8 |  |  | 0.8 |
Net income before non-controlling interest | 73.2 |  |  | 88.8 |  |  | 21.6 |  |  | (110.4 | ) |  | 73.2 |
Less: Net loss attributable to non-controlling interest | (0.1 | ) |  | — |  |  | (0.1 | ) |  | 0.1 |  |  | (0.1 | )
Net income attributable to Tempur Sealy International, Inc. | $ | 73.3 |  |  | $ | 88.8 |  |  | $ | 21.7 |  |  | $ | (110.5 | ) |  | $ | 73.3 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 66.6 |  |  | $ | 92.8 |  |  | $ | 11.0 |  |  | $ | (103.8 | ) |  | $ | 66.6 |
Supplemental Condensed Consolidated Statements of Income and Comprehensive Income Three Months Ended September 30, 2018 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Reclassifications and Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 556.6 |  |  | $ | 197.4 |  |  | $ | (24.5 | ) |  | $ | 729.5 |
Cost of sales | — |  |  | 338.6 |  |  | 114.1 |  |  | (23.2 | ) |  | 429.5 |
Gross profit | — |  |  | 218.0 |  |  | 83.3 |  |  | (1.3 | ) |  | 300.0 |
Selling and marketing expenses | 2.2 |  |  | 98.2 |  |  | 48.1 |  |  | (2.6 | ) |  | 145.9 |
General, administrative and other expenses | 4.6 |  |  | 56.3 |  |  | 13.8 |  |  | (1.5 | ) |  | 73.2 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (3.8 | ) |  | — |  |  | (3.8 | )
Operating (loss) income | (6.8 | ) |  | 63.5 |  |  | 25.2 |  |  | 2.8 |  |  | 84.7 |
Other expense, net: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Third party interest expense, net | 14.9 |  |  | 7.8 |  |  | 1.1 |  |  | (0.2 | ) |  | 23.6 |
Intercompany interest (income) expense, net | (1.7 | ) |  | 3.3 |  |  | (1.6 | ) |  | — |  |  | — |
Interest expense (income), net | 13.2 |  |  | 11.1 |  |  | (0.5 | ) |  | (0.2 | ) |  | 23.6 |
Other (income) expense, net | — |  |  | (1.5 | ) |  | 2.5 |  |  | 0.4 |  |  | 1.4 |
Total other expense, net | 13.2 |  |  | 9.6 |  |  | 2.0 |  |  | 0.2 |  |  | 25.0 |
Income (loss) from equity investees | 57.8 |  |  | (14.9 | ) |  | — |  |  | (42.9 | ) |  | — |
Income from continuing operations before income taxes | 37.8 |  |  | 39.0 |  |  | 23.2 |  |  | (40.3 | ) |  | 59.7 |
Income tax benefit (provision) | 3.6 |  |  | 18.8 |  |  | (38.1 | ) |  | 0.1 |  |  | (15.6 | )
Income (loss) from continuing operations | 41.4 |  |  | 57.8 |  |  | (14.9 | ) |  | (40.2 | ) |  | 44.1 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | — |  |  | (2.7 | ) |  | (2.7 | )
Net income (loss) before non-controlling interest | 41.4 |  |  | 57.8 |  |  | (14.9 | ) |  | (42.9 | ) |  | 41.4 |
Less: Net loss attributable to non-controlling interest | (0.9 | ) |  | (0.8 | ) |  | (0.1 | ) |  | 0.9 |  |  | (0.9 | )
Net income (loss) attributable to Tempur Sealy International, Inc. | $ | 42.3 |  |  | $ | 58.6 |  |  | $ | (14.8 | ) |  | $ | (43.8 | ) |  | $ | 42.3 |
Comprehensive income (loss) attributable to Tempur Sealy International, Inc. | $ | 44.7 |  |  | $ | 58.6 |  |  | $ | (12.4 | ) |  | $ | (46.2 | ) |  | $ | 44.7 |
Supplemental Condensed Consolidated Statements of Income and Comprehensive Income Nine Months Ended September 30, 2019 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Reclassifications and Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 1,706.3 |  |  | $ | 581.3 |  |  | $ | (52.9 | ) |  | $ | 2,234.7 |
Cost of sales | — |  |  | 1,001.1 |  |  | 330.7 |  |  | (52.9 | ) |  | 1,278.9 |
Gross profit | — |  |  | 705.2 |  |  | 250.6 |  |  | — |  |  | 955.8 |
Selling and marketing expenses | 8.4 |  |  | 335.9 |  |  | 141.2 |  |  | (0.1 | ) |  | 485.4 |
General, administrative and other expenses | 12.8 |  |  | 165.4 |  |  | 42.6 |  |  | (2.1 | ) |  | 218.7 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (10.4 | ) |  | — |  |  | (10.4 | )
Operating (loss) income | (21.2 | ) |  | 203.9 |  |  | 77.2 |  |  | 2.2 |  |  | 262.1 |
|  |  |  |  |  |  |  |  | — |
Other expense (income), net: |  |  |  |  |  |  |  |  |
Third party interest expense, net | 42.2 |  |  | 21.0 |  |  | 2.5 |  |  | — |  |  | 65.7 |
Intercompany interest (income) expense, net | (7.5 | ) |  | 8.8 |  |  | (1.3 | ) |  | — |  |  | — |
Interest expense, net | 34.7 |  |  | 29.8 |  |  | 1.2 |  |  | — |  |  | 65.7 |
Other income, net | — |  |  | (5.1 | ) |  | (2.9 | ) |  | 1.5 |  | — |  | (6.5 | )
Total other expense (income), net | 34.7 |  |  | 24.7 |  |  | (1.7 | ) |  | 1.5 |  |  | 59.2 |
Income from equity investees | 189.3 |  |  | 58.0 |  |  | — |  |  | (247.3 | ) |  | — |
Income from continuing operations before income taxes | 133.4 |  |  | 237.2 |  |  | 78.9 |  |  | (246.6 | ) |  | 202.9 |
Income tax benefit (provision) | 9.9 |  |  | (47.9 | ) |  | (20.9 | ) |  | 0.1 |  |  | (58.8 | )
Income from continuing operations | 143.3 |  |  | 189.3 |  |  | 58.0 |  |  | (246.5 | ) |  | 144.1 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | — |  |  | (0.8 | ) |  | (0.8 | )
Net income attributable to Tempur Sealy International, Inc. | $ | 143.3 |  |  | $ | 189.3 |  |  | $ | 58.0 |  |  | $ | (247.3 | ) |  | $ | 143.3 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 143.6 |  |  | $ | 194.8 |  |  | $ | 52.8 |  |  | $ | (247.6 | ) |  | $ | 143.6 |
Supplemental Condensed Consolidated Statements of Income and Comprehensive Income Nine Months Ended September 30, 2018 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Reclassifications and Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 1,507.6 |  |  | $ | 594.3 |  |  | $ | (75.1 | ) |  | $ | 2,026.8 |
Cost of sales | — |  |  | 918.0 |  |  | 338.5 |  |  | (67.2 | ) |  | 1,189.3 |
Gross profit | — |  |  | 589.6 |  |  | 255.8 |  |  | (7.9 | ) |  | 837.5 |
Selling and marketing expenses | 6.3 |  |  | 296.5 |  |  | 152.0 |  |  | (10.2 | ) |  | 444.6 |
General, administrative and other expenses | 14.3 |  |  | 154.0 |  |  | 42.5 |  |  | (4.8 | ) |  | 206.0 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (11.5 | ) |  | — |  |  | (11.5 | )
Operating (loss) income | (20.6 | ) |  | 139.1 |  |  | 72.8 |  |  | 7.1 |  |  | 198.4 |
Other expense, net: |  |  |  |  |  |  |  |  |  |  |  |  |
Third party interest expense, net | 44.7 |  |  | 22.3 |  |  | 4.2 |  |  | (1.7 | ) |  | 69.5 |
Intercompany interest (income) expense, net | (5.3 | ) |  | 7.8 |  |  | (2.5 | ) |  | — |  |  | — |
Interest expense, net | 39.4 |  |  | 30.1 |  |  | 1.7 |  |  | (1.7 | ) |  | 69.5 |
Other (income) expense, net | — |  |  | (7.1 | ) |  | 7.4 |  |  | (2.1 | ) |  | (1.8 | )
Total other expense, net | 39.4 |  |  | 23.0 |  |  | 9.1 |  |  | (3.8 | ) |  | 67.7 |
Income from equity investees | 134.1 |  |  | 15.1 |  |  | — |  |  | (149.2 | ) |  | — |
Income from continuing operations before income taxes | 74.1 |  |  | 131.2 |  |  | 63.7 |  |  | (138.3 | ) |  | 130.7 |
Income tax benefit (provision) | 11.3 |  |  | 2.9 |  |  | (48.6 | ) |  | — |  |  | (34.4 | )
Income from continuing operations | 85.4 |  |  | 134.1 |  |  | 15.1 |  |  | (138.3 | ) |  | 96.3 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | — |  |  | (10.9 | ) |  | (10.9 | )
Net income before non-controlling interest | 85.4 |  |  | 134.1 |  |  | 15.1 |  |  | (149.2 | ) |  | 85.4 |
Less: Net loss attributable to non-controlling interest | (2.8 | ) |  | (2.6 | ) |  | (0.2 | ) |  | 2.8 |  |  | (2.8 | )
Net income attributable to Tempur Sealy International, Inc. | $ | 88.2 |  |  | $ | 136.7 |  |  | $ | 15.3 |  |  | $ | (152.0 | ) |  | $ | 88.2 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 78.9 |  |  | $ | 136.1 |  |  | $ | 6.6 |  |  | $ | (142.7 | ) |  | $ | 78.9 |
Schedule of supplemental condensed consolidated balance sheets | Supplemental Condensed Consolidated Balance Sheets September 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 | $ | — |  |  | $ | 14.2 |  |  | $ | 38.7 |  |  | $ | — |  |  | $ | 52.9 |
Accounts receivable, net | 1.0 |  |  | 23.1 |  |  | 379.2 |  |  | 27.9 |  |  | 431.2 |
Inventories | — |  |  | 210.5 |  |  | 60.3 |  |  | — |  |  | 270.8 |
Prepaid expenses and other current assets | 289.0 |  |  | 66.3 |  |  | 136.7 |  |  | (286.4 | ) |  | 205.6 |
Total Current Assets | 290.0 |  |  | 314.1 |  |  | 614.9 |  |  | (258.5 | ) |  | 960.5 |
Property, plant and equipment, net | — |  |  | 363.8 |  |  | 67.7 |  |  | — |  |  | 431.5 |
Goodwill | — |  |  | 512.1 |  |  | 218.3 |  |  | — |  |  | 730.4 |
Other intangible assets, net | — |  |  | 567.7 |  |  | 76.3 |  |  | — |  |  | 644.0 |
Operating lease right-of-use assets | — |  |  | 179.6 |  |  | 47.6 |  |  | — |  |  | 227.2 |
Deferred income taxes | 13.6 |  |  | — |  |  | 13.6 |  |  | (13.6 | ) |  | 13.6 |
Other non-current assets | 3.8 |  |  | 52.5 |  |  | 39.6 |  |  | — |  |  | 95.9 |
Net investment in subsidiaries | 819.7 |  |  | 317.5 |  |  | — |  |  | (1,137.2 | ) |  | — |
Due from affiliates | 382.7 |  |  | 135.1 |  |  | 24.3 |  |  | (542.1 | ) |  | — |
Total Assets | $ | 1,509.8 |  |  | $ | 2,442.4 |  |  | $ | 1,102.3 |  |  | $ | (1,951.4 | ) |  | $ | 3,103.1 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 194.7 |  |  | $ | 53.6 |  |  | $ | 27.9 |  |  | $ | 276.2 |
Accrued expenses and other current liabilities | 21.4 |  |  | 250.3 |  |  | 214.7 |  |  | — |  |  | 486.4 |
Current portion of long-term debt | — |  |  | 56.7 |  |  | 3.4 |  |  | — |  |  | 60.1 |
Income taxes payable | — |  |  | 296.4 |  |  | 15.3 |  |  | (286.4 | ) |  | 25.3 |
Total Current Liabilities | 21.4 |  |  | 798.1 |  |  | 287.0 |  |  | (258.5 | ) |  | 848.0 |
Long-term debt, net | 1,044.0 |  |  | 431.3 |  |  | 34.2 |  |  | — |  |  | 1,509.5 |
Long-term operating lease obligations | — |  |  | 152.8 |  |  | 33.4 |  |  | — |  |  | 186.2 |
Deferred income taxes | — |  |  | 108.6 |  |  | 15.1 |  |  | (13.6 | ) |  | 110.1 |
Other non-current liabilities | — |  |  | 56.7 |  |  | 56.1 |  |  | — |  |  | 112.8 |
Due to affiliates | 107.9 |  |  | 75.2 |  |  | 359.0 |  |  | (542.1 | ) |  | — |
Total Liabilities | 1,173.3 |  |  | 1,622.7 |  |  | 784.8 |  |  | (814.2 | ) |  | 2,766.6 |
Total Stockholders' Equity | 336.5 |  |  | 819.7 |  |  | 317.5 |  |  | (1,137.2 | ) |  | 336.5 |
Total Liabilities and Stockholders’ Equity | $ | 1,509.8 |  |  | $ | 2,442.4 |  |  | $ | 1,102.3 |  |  | $ | (1,951.4 | ) |  | $ | 3,103.1 |
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 to 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 Nine Months Ended September 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 | $ | (22.0 | ) |  | $ | 215.1 |  |  | $ | 6.9 |  |  | $ | 1.7 |  |  | $ | 201.7 |
CASH FLOWS FROM INVESTING ACTIVITIES FROM CONTINUING OPERATIONS: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | — |  |  | (53.5 | ) |  | (8.4 | ) |  | — |  |  | (61.9 | )
Acquisitions, net of cash acquired | — |  |  | (9.0 | ) |  | (8.1 | ) |  | — |  |  | (17.1 | )
Other | — |  |  | 4.8 |  |  | 10.2 |  |  | — |  |  | 15.0 |
Contributions (paid to) received from subsidiaries and affiliates | — |  |  | (58.1 | ) |  | 58.1 |  |  | — |  |  | — |
Net cash (used in) provided by investing activities from continuing operations | — |  |  | (115.8 | ) |  | 51.8 |  |  | — |  |  | (64.0 | )
CASH FLOWS FROM FINANCING ACTIVITIES FROM CONTINUING OPERATIONS: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under long-term debt obligations | — |  |  | 161.9 |  |  | 440.6 |  |  | — |  |  | 602.5 |
Repayments of borrowings under long-term debt obligations | — |  |  | (263.2 | ) |  | (415.3 | ) |  | — |  |  | (678.5 | )
Net activity in investment in and advances from (to) subsidiaries and affiliates | 64.6 |  |  | 16.0 |  |  | (80.6 | ) |  | — |  |  | — |
Excess tax benefit from stock-based compensation | 12.8 |  |  | — |  |  | — |  |  | — |  |  | 12.8 |
Treasury stock repurchased | (55.5 | ) |  | — |  |  | — |  |  | — |  |  | (55.5 | )
Payments of deferred financing costs | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (0.1 | )
Other | — |  |  | (6.0 | ) |  | — |  |  | — |  |  | (6.0 | )
Net cash provided by (used in) financing activities from continuing operations | 21.9 |  |  | (91.3 | ) |  | (55.4 | ) |  | — |  |  | (124.8 | )
Net cash (used in) provided by continuing operations | (0.1 | ) |  | 8.0 |  |  | 3.3 |  |  | 1.7 |  |  | 12.9 |
CASH USED IN DISCONTINUED OPERATIONS |  |  |  |  |  |  |  |  |
Operating cash flows, net | — |  |  | — |  |  | — |  |  | (1.7 | ) |  | (1.7 | )
Investing cash flows, net | — |  |  | — |  |  | — |  |  | — |  |  | — |
Financing cash flows, net | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net cash used in discontinued operations | — |  |  | — |  |  | — |  |  | (1.7 | ) |  | (1.7 | )
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | — |  |  | — |  |  | (4.1 | ) |  | — |  |  | (4.1 | )
(Decrease)/increase in cash and cash equivalents | (0.1 | ) |  | 8.0 |  |  | (0.8 | ) |  | — |  |  | 7.1 |
CASH AND CASH EQUIVALENTS, beginning of period | 0.1 |  |  | 6.2 |  |  | 39.5 |  |  | — |  |  | 45.8 |
CASH AND CASH EQUIVALENTS, end of period | $ | — |  |  | $ | 14.2 |  |  | $ | 38.7 |  |  | $ | — |  |  | $ | 52.9 |
Supplemental Condensed Consolidated Statements of Cash Flows Nine Months Ended September 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 | $ | (28.4 | ) |  | $ | 132.7 |  |  | $ | 8.7 |  |  | $ | 17.6 |  |  | $ | 130.6 |
CASH FLOWS FROM INVESTING ACTIVITIES FROM CONTINUING OPERATIONS: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Purchases of property, plant and equipment | — |  |  | (46.4 | ) |  | (9.6 | ) |  | 0.2 |  |  | (55.8 | )
Contributions (paid to) received from subsidiaries and affiliates | — |  |  | (83.6 | ) |  | 83.6 |  |  | — |  |  | — |
Other | — |  |  | 0.1 |  |  | 0.2 |  |  | — |  |  | 0.3 |
Net cash (used in) provided by investing activities from continuing operations | — |  |  | (129.9 | ) |  | 74.2 |  |  | 0.2 |  |  | (55.5 | )
CASH FLOWS FROM FINANCING ACTIVITIES FROM CONTINUING OPERATIONS: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from borrowings under long-term debt obligations | — |  |  | 335.6 |  |  | 527.4 |  |  | — |  |  | 863.0 |
Repayments of borrowings under long-term debt obligations | — |  |  | (358.1 | ) |  | (564.6 | ) |  | — |  |  | (922.7 | )
Net activity in investment in and advances from (to) subsidiaries and affiliates | 27.6 |  |  | 21.7 |  |  | (49.3 | ) |  | — |  |  | — |
Proceeds from exercise of stock options | 4.2 |  |  | — |  |  | — |  |  | — |  |  | 4.2 |
Treasury stock repurchased | (3.5 | ) |  | — |  |  | — |  |  | — |  |  | (3.5 | )
Other | — |  |  | (3.8 | ) |  | (0.9 | ) |  | — |  |  | (4.7 | )
Net cash provided by (used in) financing activities from continuing operations | 28.3 |  |  | (4.6 | ) |  | (87.4 | ) |  | — |  |  | (63.7 | )
Net cash (used in) provided by continuing operations | (0.1 | ) |  | (1.8 | ) |  | (4.5 | ) |  | 17.8 |  |  | 11.4 |
CASH USED IN DISCONTINUED OPERATIONS |  |  |  |  |  |  |  |  |
Operating cash flows, net | — |  |  | — |  |  | — |  |  | (17.6 | ) |  | (17.6 | )
Investing cash flows, net | — |  |  | — |  |  | — |  |  | (0.2 | ) |  | (0.2 | )
Financing cash flows, net | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net cash used in discontinued operations | — |  |  | — |  |  | — |  |  | (17.8 | ) |  | (17.8 | )
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | — |  |  | — |  |  | (2.1 | ) |  | — |  |  | (2.1 | )
Decrease in cash and cash equivalents | (0.1 | ) |  | (1.8 | ) |  | (6.6 | ) |  | — |  |  | (8.5 | )
CASH AND CASH EQUIVALENTS, beginning of period | 0.1 |  |  | 12.3 |  |  | 29.5 |  |  | — |  |  | 41.9 |
CASH AND CASH EQUIVALENTS, end of period | — |  |  | 10.5 |  |  | 22.9 |  |  | — |  |  | 33.4 |
LESS: CASH AND CASH EQUIVALENTS OF DISCONTINUED OPERATIONS | — |  |  | — |  |  | 1.3 |  |  | — |  |  | 1.3 |
CASH AND CASH EQUIVALENTS OF CONTINUING OPERATIONS | $ | — |  |  | $ | 10.5 |  |  | $ | 21.6 |  |  | $ | — |  |  | $ | 32.1 |

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