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Business Segment Information
 6 Months Ended
Jun. 30, 2021
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
 
The Company operates in two segments: North America and International. These segments are strategic business units that are managed separately based on geography. The North America segment consists of Tempur and Sealy manufacturing and distribution subsidiaries, joint ventures and licensees located in the U.S., Canada and Mexico. The International segment consists of Tempur manufacturing and distribution subsidiaries, Sealy distribution subsidiaries, joint ventures and licensees located in Europe, Asia-Pacific and Latin America (other than Mexico). Corporate operating expenses are not included in either of the segments and are presented separately as a reconciling item to consolidated results. The Company evaluates segment performance based on net sales, gross profit and operating income.

The Company’s North America and International segment assets include investments in subsidiaries that are appropriately eliminated in the Company’s accompanying Condensed Consolidated Financial Statements. The remaining inter-segment eliminations are comprised of intercompany accounts receivable and payable.

The following table summarizes total assets by segment:
(in millions)June 30, 2021December 31, 2020
North America$4,145.9 $3,740.3 
International481.3 639.8 
Corporate400.7 490.3 
Inter-segment eliminations(1,750.3)(1,561.8)
Total assets$3,277.6 $3,308.6 

 The following table summarizes property, plant and equipment, net, by segment:
(in millions)June 30, 2021December 31, 2020
North America$425.0 $415.3 
International47.0 49.8 
Corporate46.2 42.8 
Total property, plant and equipment, net$518.2 $507.9 
     
The following table summarizes operating lease right-of-use assets by segment:
(in millions)June 30, 2021December 31, 2020
North America$283.3 $256.6 
International40.6 45.7 
Corporate1.5 2.0 
Total operating lease right-of-use assets$325.4 $304.3 
The following table summarizes segment information for the three months ended June 30, 2021:
(in millions)North AmericaInternationalCorporateEliminationsConsolidated
Net sales$1,013.8 $155.3 $— $— $1,169.1 
Inter-segment sales$0.5 $0.1 $— $(0.6)$— 
Inter-segment royalty expense (income)2.3 (2.3)— — — 
Gross profit425.4 92.8 — — 518.2 
Operating income (loss)217.4 43.4 (37.5)— 223.3 
Income (loss) from continuing operations before income taxes216.8 42.8 (74.2)— 185.4 
Depreciation and amortization (1)
$21.7 $3.5 $16.9 $— $42.1 
Capital expenditures22.3 2.6 4.2 — 29.1 
(1)Depreciation and amortization includes stock-based compensation amortization expense.
The following table summarizes segment information for the three months ended June 30, 2020:
(in millions)North AmericaInternationalCorporateEliminationsConsolidated
Net sales$578.6 $86.6 $— $— $665.2 
Inter-segment sales$— $0.1 $— $(0.1)$— 
Inter-segment royalty expense (income)1.1 (1.1)— — — 
Gross profit218.4 47.5 — — 265.9 
Operating income (loss)67.7 11.3 (25.6)— 53.4 
Income (loss) from continuing operations before income taxes66.3 9.3 (43.1)— 32.5 
Depreciation and amortization (1)
$18.7 $3.3 $9.8 $— $31.8 
Capital expenditures18.3 2.9 2.0 — 23.2 
(1)Depreciation and amortization includes stock-based compensation amortization expense.
The following table summarizes segment information for the six months ended June 30, 2021:
(in millions)North AmericaInternationalCorporateEliminationsConsolidated
Net sales$1,897.1 $315.8 $— $— $2,212.9 
Inter-segment sales$1.2 $0.3 $— $(1.5)$— 
Inter-segment royalty expense (income)4.4 (4.4)— — — 
Gross profit789.3 187.8 — — 977.1 
Operating income (loss)390.8 89.6 (68.7)— 411.7 
Income (loss) from continuing operations before income taxes389.3 88.9 (121.4)— 356.8 
Depreciation and amortization (1)
$42.7 $7.1 $33.9 $— $83.7 
Capital expenditures41.1 4.6 6.9 — 52.6 
(1)Depreciation and amortization includes stock-based compensation amortization expense.

The following table summarizes segment information for the six months ended June 30, 2020:
(in millions)North AmericaInternationalCorporateEliminationsConsolidated
Net sales$1,270.9 $216.7 $— $— $1,487.6 
Inter-segment sales$0.5 $0.2 $— $(0.7)$— 
Inter-segment royalty expense (income)3.2 (3.2)— — — 
Gross profit499.6 123.4 — — 623.0 
Operating income (loss)169.3 37.7 (48.3)— 158.7 
Income (loss) from continuing operations before income taxes166.4 33.3 (82.7)— 117.0 
Depreciation and amortization (1)
$36.5 $6.4 $19.4 $— $62.3 
Capital expenditures39.9 5.0 4.5 — 49.4 
(1)Depreciation and amortization includes stock-based compensation amortization expense.
The following table summarizes property, plant and equipment, net by geographic region:
(in millions)
June 30, 2021December 31, 2020
United States
$449.8 $436.2 
All Other68.4 71.7 
Total property, plant and equipment, net
$518.2 $507.9 

The following table summarizes operating lease right-of-use assets by geographic region:
(in millions)June 30, 2021December 31, 2020
United States$281.4 $255.0 
All Other44.0 49.3 
Total operating lease right-of-use assets$325.4 $304.3 

The following table summarizes net sales by geographic region:
Three Months EndedSix Months Ended
 June 30,June 30,
(in millions)2021202020212020
United States$946.3 $542.0 $1,764.8 $1,174.5 
All Other222.8 123.2 448.1 313.1 
Total net sales$1,169.1 $665.2 $2,212.9 $1,487.6