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Unconsolidated Affiliate Companies | 12 Months Ended
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Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract] |
Unconsolidated Affiliate Companies | Unconsolidated Affiliate Companies The Company has ownership interests in a group of Asia-Pacific joint ventures to develop markets for Sealy® branded products in those regions. The Company’s ownership interest in these joint ventures is 50.0% and is accounted for under the equity method. The Company’s investment of $22.5 million at December 31, 2019 and 2018, is recorded in other non-current assets in the accompanying Consolidated Balance Sheets. The Company’s share of earnings for the years ended December 31, 2019, 2018 and 2017 respectively, are recorded in equity income in earnings of unconsolidated affiliates in the accompanying Consolidated Statements of Income. The tables below present summarized financial information for joint ventures as of and for the years ended December 31:
(in millions) | 2019 |  | 2018
Current assets | $ | 81.0 |  |  | $ | 81.8 |
Non-current assets | 15.3 |  |  | 18.6 |
Total liabilities | 55.4 |  |  | 59.0 |
Equity | 40.9 |  |  | 41.4 |
(in millions) | 2019 |  | 2018 |  | 2017
Net sales | $ | 212.6 |  |  | $ | 220.5 |  |  | $ | 195.1 |
Gross profit | 147.2 |  |  | 147.8 |  |  | 129.9 |
Income from operations | 44.6 |  |  | 46.6 |  |  | 43.3 |
Net income | 32.4 |  |  | 33.5 |  |  | 31.7 |

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section S99 -Paragraph 4 -Subparagraph (SX 210.3A-04) -URI http://asc.fasb.org/extlink&oid=116822174&loc=d3e355119-122828 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -URI http://asc.fasb.org/topic&trid=2196965 + Details
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