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v3.19.3.a.u2

Guarantor/Non-Guarantor Financial Information (Tables) | 12 Months Ended
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Dec. 31, 2019
Guarantor/Non-Guarantor Financial Information |
Schedule of Supplemental Condensed Consolidating Statements of Operations | TEMPUR SEALY INTERNATIONAL, INC. Supplemental Consolidated Statements of Income and Comprehensive Income Year Ended December 31, 2019 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Reclassifications and Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 2,387.1 |  |  | $ | 793.5 |  |  | $ | (74.6 | ) |  | $ | 3,106.0 |
Cost of sales | — |  |  | 1,390.6 |  |  | 447.8 |  |  | (74.6 | ) |  | 1,763.8 |
Gross profit | — |  |  | 996.5 |  |  | 345.7 |  |  | — |  |  | 1,342.2 |
Selling and marketing expenses | 11.2 |  |  | 466.0 |  |  | 189.2 |  |  | (0.1 | ) |  | 666.3 |
General, administrative and other expenses | 17.4 |  |  | 242.8 |  |  | 57.7 |  |  | (2.6 | ) |  | 315.3 |
Customer-related charges | — |  |  | 29.8 |  |  | — |  |  | — |  |  | 29.8 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (15.9 | ) |  | — |  |  | (15.9 | )
Operating (loss) income | (28.6 | ) |  | 257.9 |  |  | 114.7 |  |  | 2.7 |  |  | 346.7 |
Other expense, net: |  |  |  |  |  |  |  |  |
Third party interest expense, net | 56.3 |  |  | 26.7 |  |  | 2.7 |  |  | — |  |  | 85.7 |
Intercompany interest (income) expense, net | (9.8 | ) |  | 13.2 |  |  | (3.4 | ) |  | — |  |  | — |
Interest expense (income), net | 46.5 |  |  | 39.9 |  |  | (0.7 | ) |  | — |  |  | 85.7 |
Other (income) expense, net | — |  |  | (7.6 | ) |  | 1.6 |  |  | 1.5 |  |  | (4.5 | )
Total other expense, net | 46.5 |  |  | 32.3 |  |  | 0.9 |  |  | 1.5 |  |  | 81.2 |
Income from equity investees | 250.7 |  |  | 84.3 |  |  | — |  |  | (335.0 | ) |  | — |
Income from continuing operations before income taxes | 175.6 |  |  | 309.9 |  |  | 113.8 |  |  | (333.8 | ) |  | 265.5 |
Income tax benefit (provision) | 13.8 |  |  | (59.2 | ) |  | (29.5 | ) |  | 0.2 |  |  | (74.7 | )
Income from continuing operations | 189.4 |  |  | 250.7 |  |  | 84.3 |  |  | (333.6 | ) |  | 190.8 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | — |  |  | (1.4 | ) |  | (1.4 | )
Net income before non-controlling interests | 189.4 |  |  | 250.7 |  |  | 84.3 |  |  | (335.0 | ) |  | 189.4 |
Less: Net loss attributable to non-controlling interest | (0.1 | ) |  | — |  |  | (0.1 | ) |  | 0.1 |  |  | (0.1 | )
Net income attributable to Tempur Sealy International, Inc. | $ | 189.5 |  |  | $ | 250.7 |  |  | $ | 84.4 |  |  | $ | (335.1 | ) |  | $ | 189.5 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 197.1 |  |  | $ | 251.9 |  |  | $ | 90.8 |  |  | $ | (342.7 | ) |  | $ | 197.1 |
TEMPUR SEALY INTERNATIONAL, INC. Supplemental Consolidated Statements of Income and Comprehensive Income Year Ended December 31, 2018 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Reclassifications and Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 2,000.9 |  |  | $ | 800.5 |  |  | $ | (98.5 | ) |  | $ | 2,702.9 |
Cost of sales | — |  |  | 1,208.3 |  |  | 464.3 |  |  | (90.4 | ) |  | 1,582.2 |
Gross profit | — |  |  | 792.6 |  |  | 336.2 |  |  | (8.1 | ) |  | 1,120.7 |
Selling and marketing expenses | 8.4 |  |  | 392.0 |  |  | 199.8 |  |  | (12.4 | ) |  | 587.8 |
General, administrative and other expenses | 17.8 |  |  | 204.6 |  |  | 57.4 |  |  | (6.8 | ) |  | 273.0 |
Customer-related charges | — |  |  | 21.2 |  |  | — |  |  | — |  |  | 21.2 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (17.6 | ) |  | — |  |  | (17.6 | )
Operating (loss) income | (26.2 | ) |  | 174.8 |  |  | 96.6 |  |  | 11.1 |  |  | 256.3 |
Other expense, net: |  |  |  |  |  |  |  |  |
Third party interest expense, net | 59.2 |  |  | 30.2 |  |  | 4.6 |  |  | (1.7 | ) |  | 92.3 |
Intercompany interest (income) expense, net | (6.9 | ) |  | 10.8 |  |  | (3.9 | ) |  | — |  |  | — |
Interest expense, net | 52.3 |  |  | 41.0 |  |  | 0.7 |  |  | (1.7 | ) |  | 92.3 |
Other (income) expense, net | — |  |  | (9.9 | ) |  | 13.9 |  |  | (5.0 | ) |  | (1.0 | )
Total other expense, net | 52.3 |  |  | 31.1 |  |  | 14.6 |  |  | (6.7 | ) |  | 91.3 |
Income from equity investees | 162.0 |  |  | 26.6 |  |  | — |  |  | (188.6 | ) |  | — |
Income from continuing operations before income taxes | 83.5 |  |  | 170.3 |  |  | 82.0 |  |  | (170.8 | ) |  | 165.0 |
Income tax benefit (provision) | 14.1 |  |  | (8.3 | ) |  | (55.4 | ) |  | — |  |  | (49.6 | )
Income from continuing operations | 97.6 |  |  | 162.0 |  |  | 26.6 |  |  | (170.8 | ) |  | 115.4 |
Loss from discontinued operations, net of tax | — |  |  | — |  |  | — |  |  | (17.8 | ) |  | (17.8 | )
Net income before non-controlling interests | 97.6 |  |  | 162.0 |  |  | 26.6 |  |  | (188.6 | ) |  | 97.6 |
Less: Net loss attributable to non-controlling interests | (2.9 | ) |  | (2.6 | ) |  | (0.3 | ) |  | 2.9 |  |  | (2.9 | )
Net income attributable to Tempur Sealy International, Inc. | $ | 100.5 |  |  | $ | 164.6 |  |  | $ | 26.9 |  |  | $ | (191.5 | ) |  | $ | 100.5 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 80.7 |  |  | $ | 164.2 |  |  | $ | 7.5 |  |  | $ | (171.7 | ) |  | $ | 80.7 |
TEMPUR SEALY INTERNATIONAL, INC. Supplemental Consolidated Statements of Income and Comprehensive Income Year Ended December 31, 2017 (in millions)
| Tempur Sealy International, Inc. (Ultimate Parent) |  | Combined Guarantor Subsidiaries |  | Combined Non-Guarantor Subsidiaries |  | Reclassifications and Eliminations |  | Consolidated
Net sales | $ | — |  |  | $ | 1,961.2 |  |  | $ | 862.5 |  |  | $ | (123.1 | ) |  | $ | 2,700.6 |
Cost of sales | — |  |  | 1,185.4 |  |  | 497.6 |  |  | (103.4 | ) |  | 1,579.6 |
Gross profit | — |  |  | 775.8 |  |  | 364.9 |  |  | (19.7 | ) |  | 1,121.0 |
Selling and marketing expenses | 5.6 |  |  | 406.8 |  |  | 188.9 |  |  | (15.2 | ) |  | 586.1 |
General, administrative and other expenses | 17.5 |  |  | 176.6 |  |  | 78.9 |  |  | (11.6 | ) |  | 261.4 |
Customer-related charges | (8.4 | ) |  | 21.7 |  |  | 1.1 |  |  | — |  |  | 14.4 |
Equity income in earnings of unconsolidated affiliates | — |  |  | — |  |  | (15.6 | ) |  | — |  |  | (15.6 | )
Royalty income, net of royalty expense | — |  |  | (20.8 | ) |  | — |  |  | — |  |  | (20.8 | )
Operating (loss) income | (14.7 | ) |  | 191.5 |  |  | 111.6 |  |  | 7.1 |  |  | 295.5 |
Other expense, net: |  |  |  |  |  |  |  |  |
Third party interest expense, net | 59.6 |  |  | 26.0 |  |  | 22.4 |  |  | (20.7 | ) |  | 87.3 |
Intercompany interest (income) expense, net | (4.7 | ) |  | 8.3 |  |  | (3.6 | ) |  | — |  |  | — |
Interest expense, net | 54.9 |  |  | 34.3 |  |  | 18.8 |  |  | (20.7 | ) |  | 87.3 |
Other (income) expense, net | — |  |  | (17.2 | ) |  | 9.2 |  |  | 0.8 |  |  | (7.2 | )
Total other expense, net | 54.9 |  |  | 17.1 |  |  | 28.0 |  |  | (19.9 | ) |  | 80.1 |
Income from equity investees | 193.1 |  |  | 51.3 |  |  | — |  |  | (244.4 | ) |  | — |
Income from continuing operations before income taxes | 123.5 |  |  | 225.7 |  |  | 83.6 |  |  | (217.4 | ) |  | 215.4 |
Income tax benefit (provision) | 17.2 |  |  | (32.6 | ) |  | (32.3 | ) |  | 3.9 |  |  | (43.8 | )
Income from continuing operations | 140.7 |  |  | 193.1 |  |  | 51.3 |  |  | (213.5 | ) |  | 171.6 |
Loss from discontinued operations | — |  |  | — |  |  | — |  |  | (30.9 | ) |  | (30.9 | )
Net income before non-controlling interests | 140.7 |  |  | 193.1 |  |  | 51.3 |  |  | (244.4 | ) |  | 140.7 |
Less: Net loss attributable to non-controlling interests | (10.7 | ) |  | (5.2 | ) |  | (5.5 | ) |  | 10.7 |  |  | (10.7 | )
Net income attributable to Tempur Sealy International, Inc. | $ | 151.4 |  |  | $ | 198.3 |  |  | $ | 56.8 |  |  | $ | (255.1 | ) |  | $ | 151.4 |
Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 179.4 |  |  | $ | 193.0 |  |  | $ | 89.9 |  |  | $ | (282.9 | ) |  | $ | 179.4 |
Schedule of Supplemental Condensed Consolidating Balance Sheets | TEMPUR SEALY INTERNATIONAL, INC. Supplemental Consolidated Balance Sheets December 31, 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 | $ | 0.2 |  |  | $ | 20.0 |  |  | $ | 44.7 |  |  | $ | — |  |  | $ | 64.9 |
Accounts receivable, net | 0.2 |  |  | 21.9 |  |  | 352.5 |  |  | (2.6 | ) |  | 372.0 |
Inventories | — |  |  | 199.9 |  |  | 60.6 |  |  | — |  |  | 260.5 |
Prepaid expenses and other current assets | 12.9 |  |  | 59.5 |  |  | 140.2 |  |  | (9.8 | ) |  | 202.8 |
Total Current Assets | 13.3 |  |  | 301.3 |  |  | 598.0 |  |  | (12.4 | ) |  | 900.2 |
Property, plant and equipment, net | — |  |  | 366.5 |  |  | 69.3 |  |  | — |  |  | 435.8 |
Goodwill | — |  |  | 511.2 |  |  | 221.1 |  |  | — |  |  | 732.3 |
Other intangible assets, net | — |  |  | 564.3 |  |  | 77.1 |  |  | — |  |  | 641.4 |
Operating lease right-of-use assets | — |  |  | 198.2 |  |  | 47.2 |  |  | — |  |  | 245.4 |
Deferred income taxes | 13.0 |  |  | — |  |  | 14.1 |  |  | (13.0 | ) |  | 14.1 |
Other non-current assets | 0.4 |  |  | 46.6 |  |  | 45.6 |  |  | — |  |  | 92.6 |
Net investment in subsidiaries | 1,143.3 |  |  | 369.0 |  |  | — |  |  | (1,512.3 | ) |  | — |
Due from affiliates | 341.6 |  |  | 125.4 |  |  | 19.6 |  |  | (486.6 | ) |  | — |
Total Assets | $ | 1,511.6 |  |  | $ | 2,482.5 |  |  | $ | 1,092.0 |  |  | $ | (2,024.3 | ) |  | $ | 3,061.8 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Current Liabilities: |  |  |  |  |  |  |  |  |
Accounts payable | $ | — |  |  | $ | 198.4 |  |  | $ | 55.9 |  |  | $ | (2.6 | ) |  | $ | 251.7 |
Accrued expenses and other current liabilities | 6.8 |  |  | 245.7 |  |  | 220.7 |  |  | — |  |  | 473.2 |
Income taxes payable | — |  |  | 10.0 |  |  | 10.8 |  |  | (9.8 | ) |  | 11.0 |
Current portion of long-term debt | — |  |  | 29.5 |  |  | 7.9 |  |  | — |  |  | 37.4 |
Total Current Liabilities | 6.8 |  |  | 483.6 |  |  | 295.3 |  |  | (12.4 | ) |  | 773.3 |
Long-term debt, net | 1,044.3 |  |  | 458.1 |  |  | 0.2 |  |  | — |  |  | 1,502.6 |
Long-term operating lease obligations | — |  |  | 172.4 |  |  | 33.0 |  |  | — |  |  | 205.4 |
Deferred income taxes | — |  |  | 98.5 |  |  | 16.6 |  |  | (13.0 | ) |  | 102.1 |
Other non-current liabilities | 0.2 |  |  | 59.4 |  |  | 58.4 |  |  | — |  |  | 118.0 |
Due to affiliates | 99.9 |  |  | 67.2 |  |  | 319.5 |  |  | (486.6 | ) |  | — |
Total Liabilities | 1,151.2 |  |  | 1,339.2 |  |  | 723.0 |  |  | (512.0 | ) |  | 2,701.4 |
Total Stockholders' Equity | 360.4 |  |  | 1,143.3 |  |  | 369.0 |  |  | (1,512.3 | ) |  | 360.4 |
Total Liabilities and Stockholders’ Equity | $ | 1,511.6 |  |  | $ | 2,482.5 |  |  | $ | 1,092.0 |  |  | $ | (2,024.3 | ) |  | $ | 3,061.8 |
TEMPUR SEALY INTERNATIONAL, INC. Supplemental 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 |
Income taxes payable | — |  |  | 274.7 |  |  | 9.6 |  |  | (274.6 | ) |  | 9.7 |
Current portion of long-term debt | — |  |  | 44.0 |  |  | 3.1 |  |  | — |  |  | 47.1 |
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 Consolidating Statements of Cash Flows | TEMPUR SEALY INTERNATIONAL, INC. Supplemental Consolidated Statements of Cash Flows Year Ended December 31, 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 | $ | (47.6 | ) |  | $ | 295.2 |  |  | $ | 65.2 |  |  | $ | 2.0 |  |  | $ | 314.8 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |
Contributions (paid to) received from subsidiaries and affiliates | — |  |  | (68.4 | ) |  | 68.4 |  |  | — |  |  | — |
Purchases of property, plant and equipment | — |  |  | (76.2 | ) |  | (12.0 | ) |  | — |  |  | (88.2 | )
Acquisitions, net of cash acquired | — |  |  | (8.1 | ) |  | (9.0 | ) |  | — |  |  | (17.1 | )
Other | — |  |  | 4.9 |  |  | 10.2 |  |  | — |  |  | 15.1 |
Net cash (used in) provided by investing activities from continuing operations | — |  |  | (147.8 | ) |  | 57.6 |  |  | — |  |  | (90.2 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Proceeds from borrowings under long-term debt obligations | — |  |  | 607.8 |  |  | 635.0 |  |  | — |  |  | 1,242.8 |
Repayments of borrowings under long-term debt obligations | — |  |  | (707.6 | ) |  | (639.5 | ) |  | — |  |  | (1,347.1 | )
Net activity in investment in and advances from (to) subsidiaries and affiliates | 135.6 |  |  | (22.8 | ) |  | (112.8 | ) |  | — |  |  | — |
Proceeds from exercise of stock options | 17.8 |  |  | — |  |  | — |  |  | — |  |  | 17.8 |
Treasury stock repurchased | (105.7 | ) |  | — |  |  | — |  |  | — |  |  | (105.7 | )
Repayments of deferred financing costs | — |  |  | (3.2 | ) |  | — |  |  | — |  |  | (3.2 | )
Repayments of finance lease obligations and other | — |  |  | (7.8 | ) |  | — |  |  | — |  |  | (7.8 | )
Net cash provided by (used in) financing activities from continuing operations | 47.7 |  |  | (133.6 | ) |  | (117.3 | ) |  | — |  |  | (203.2 | )
Net cash provided by continuing operations | 0.1 |  |  | 13.8 |  |  | 5.5 |  |  | 2.0 |  |  | 21.4 |
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 | — |  |  | — |  |  | (0.3 | ) |  | — |  |  | (0.3 | )
Increase in cash and cash equivalents | 0.1 |  |  | 13.8 |  |  | 5.2 |  |  | — |  |  | 19.1 |
CASH AND CASH EQUIVALENTS, beginning of period | 0.1 |  |  | 6.2 |  |  | 39.5 |  |  | — |  |  | 45.8 |
CASH AND CASH EQUIVALENTS, end of period | $ | 0.2 |  |  | $ | 20.0 |  |  | $ | 44.7 |  |  | $ | — |  |  | $ | 64.9 |
TEMPUR SEALY INTERNATIONAL, INC. Supplemental Consolidated Statements of Cash Flows Year Ended December 31, 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 | $ | (55.8 | ) |  | $ | 166.6 |  |  | $ | 72.3 |  |  | $ | 24.4 |  |  | $ | 207.5 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |
Contributions (paid to) received from subsidiaries and affiliates | — |  |  | (75.8 | ) |  | 75.8 |  |  | — |  |  | — |
Purchases of property, plant and equipment | — |  |  | (58.8 | ) |  | (15.3 | ) |  | 0.5 |  |  | (73.6 | )
Other | — |  |  | 0.1 |  |  | 4.9 |  |  | (2.6 | ) |  | 2.4 |
Net cash (used in) provided by investing activities from continuing operations | — |  |  | (134.5 | ) |  | 65.4 |  |  | (2.1 | ) |  | (71.2 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Proceeds from borrowings under long-term debt obligations | — |  |  | 414.0 |  |  | 680.9 |  |  | — |  |  | 1,094.9 |
Repayments of borrowings under long-term debt obligations | — |  |  | (444.0 | ) |  | (751.8 | ) |  | — |  |  | (1,195.8 | )
Net activity in investment in and advances from (to) subsidiaries and affiliates | 55.8 |  |  | (3.0 | ) |  | (52.8 | ) |  | — |  |  | — |
Proceeds from exercise of stock options | 4.6 |  |  | — |  |  | — |  |  | — |  |  | 4.6 |
Treasury stock repurchased | (4.6 | ) |  | — |  |  | — |  |  | — |  |  | (4.6 | )
Repayments of finance lease obligations and other | — |  |  | (5.2 | ) |  | (0.9 | ) |  | — |  |  | (6.1 | )
Net cash provided by (used in) financing activities from continuing operations | 55.8 |  |  | (38.2 | ) |  | (124.6 | ) |  | — |  |  | (107.0 | )
Net cash (used in) provided by continuing operations | — |  |  | (6.1 | ) |  | 13.1 |  |  | 22.3 |  |  | 29.3 |
CASH USED IN DISCONTINUED OPERATIONS |  |  |  |  |  |  |  |  |
Operating cash flows, net | — |  |  | — |  |  | — |  |  | (24.4 | ) |  | (24.4 | )
Investing cash flow, net | — |  |  | — |  |  | — |  |  | 2.1 |  |  | 2.1 |
Financing cash flows, net | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net cash used in discontinued operations | — |  |  | — |  |  | — |  |  | (22.3 | ) |  | (22.3 | )
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | — |  |  | — |  |  | (3.1 | ) |  | — |  |  | (3.1 | )
(Decrease) increase in cash and cash equivalents | — |  |  | (6.1 | ) |  | 10.0 |  |  | — |  |  | 3.9 |
CASH AND CASH EQUIVALENTS, beginning of period | 0.1 |  |  | 12.3 |  |  | 29.5 |  |  | — |  |  | 41.9 |
CASH AND CASH EQUIVALENTS, end of period | $ | 0.1 |  |  | $ | 6.2 |  |  | $ | 39.5 |  |  | $ | — |  |  | $ | 45.8 |
TEMPUR SEALY INTERNATIONAL, INC. Supplemental Consolidated Statements of Cash Flows Year Ended December 31, 2017 (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 | $ | (55.3 | ) |  | $ | 376.9 |  |  | $ | (98.7 | ) |  | $ | 33.6 |  |  | $ | 256.5 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |  |  |  |  |
Contributions (paid to) received from subsidiaries and affiliates | — |  |  | (129.7 | ) |  | 129.7 |  |  | — |  |  | — |
Purchases of property, plant and equipment | — |  |  | (55.8 | ) |  | (11.2 | ) |  | 0.4 |  |  | (66.6 | )
Other | — |  |  | 0.8 |  |  | 4.1 |  |  | (4.0 | ) |  | 0.9 |
Net cash (used in) provided by investing activities from continuing operations | — |  |  | (184.7 | ) |  | 122.6 |  |  | (3.6 | ) |  | (65.7 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |  |  |  |  |
Proceeds from borrowings under long-term debt obligations | — |  |  | 603.9 |  |  | 729.0 |  |  | — |  |  | 1,332.9 |
Repayments of borrowings under long-term debt obligations | — |  |  | (790.8 | ) |  | (680.7 | ) |  | — |  |  | (1,471.5 | )
Net activity in investment in and advances from (to) subsidiaries and affiliates | 87.5 |  |  | 0.5 |  |  | (88.0 | ) |  | — |  |  | — |
Proceeds from exercise of stock options | 12.8 |  |  | — |  |  | — |  |  | — |  |  | 12.8 |
Treasury stock repurchased | (44.9 | ) |  | — |  |  | — |  |  | — |  |  | (44.9 | )
Payment of deferred financing costs | — |  |  | — |  |  | (0.5 | ) |  | — |  |  | (0.5 | )
Other | — |  |  | (1.4 | ) |  | (2.6 | ) |  | — |  |  | (4.0 | )
Net cash provided by (used in) financing activities from continuing operations | 55.4 |  |  | (187.8 | ) |  | (42.8 | ) |  | — |  |  | (175.2 | )
Net cash provided by (used in) continuing operations | 0.1 |  |  | 4.4 |  |  | (18.9 | ) |  | 30.0 |  |  | 15.6 |
CASH USED IN DISCONTINUED OPERATIONS |  |  |  |  |  |  |  |  |
Operating cash flows, net | — |  |  | — |  |  | — |  |  | (33.6 | ) |  | (33.6 | )
Investing cash flow, net | — |  |  | — |  |  | — |  |  | 3.6 |  |  | 3.6 |
Financing cash flows, net | — |  |  | — |  |  | — |  |  | — |  |  | — |
Net cash used in discontinued operations | — |  |  | — |  |  | — |  |  | (30.0 | ) |  | (30.0 | )
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | — |  |  | — |  |  | (9.4 | ) |  | — |  |  | (9.4 | )
Increase (decrease) in cash and cash equivalents | 0.1 |  |  | 4.4 |  |  | (28.3 | ) |  | — |  |  | (23.8 | )
CASH AND CASH EQUIVALENTS, beginning of period | — |  |  | 7.9 |  |  | 57.8 |  |  | — |  |  | 65.7 |
CASH AND CASH EQUIVALENTS, end of period | 0.1 |  |  | 12.3 |  |  | 29.5 |  |  | — |  |  | 41.9 |
LESS: CASH AND CASH EQUIVALENTS OF DISCONTINUED OPERATIONS | — |  |  | — |  |  | 0.8 |  |  | — |  |  | 0.8 |
CASH AND CASH EQUIVALENTS OF CONTINUING OPERATIONS | $ | 0.1 |  |  | $ | 12.3 |  |  | $ | 28.7 |  |  | $ | — |  |  | $ | 41.1 |

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