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Business Segment Information
 12 Months Ended
Dec. 31, 2022
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 manufacturing and distribution subsidiaries, joint ventures and licensees located in the U.S., Canada and Mexico. The International segment consists manufacturing and distribution subsidiaries, joint ventures and licensees located in Europe, Asia-Pacific and Latin America (other than Mexico). On August 2, 2021, the Company acquired Dreams, which is also included in the International segment. 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 sells its products in over 100 countries to over 10,000 wholesale customers. The Company’s Direct channel represents 23.3% of the Company’s consolidated net sales in 2022. One wholesale customer contributed over 15% of the Company’s consolidated net sales in the years ended 2022 and 2021, respectively.

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

The following table summarizes total assets by segment:
December 31,December 31,
(in millions)20222021
North America$5,161.7 $4,360.6 
International1,181.5 1,305.9 
Corporate1,077.1 730.9 
Inter-segment eliminations(3,060.5)(2,074.0)
Total assets$4,359.8 $4,323.4 

     The following table summarizes property, plant and equipment, net, by segment:
December 31,December 31,
(in millions)20222021
North America$672.1 $449.9 
International87.3 82.3 
Corporate31.7 51.3 
Total property, plant and equipment, net$791.1 $583.5 
 
    The following table summarizes operating lease right-of-use assets by segment:
December 31,December 31,
(in millions)20222021
North America$349.0 $280.6 
International154.1 199.0 
Corporate3.7 1.0 
Total operating lease right-of-use assets$506.8 $480.6 
The following table summarizes segment information for the year ended December 31, 2022:
(in millions)North AmericaInternationalCorporateEliminationsConsolidated
Bedding sales$3,618.7 $859.1 $— $— $4,477.8 
Other sales267.4 176.0 — — 443.4 
Net sales$3,886.1 $1,035.1 $— $— $4,921.2 
Inter-segment sales$1.7 $1.1 $— $(2.8)$— 
Inter-segment royalty expense (income)15.0 (15.0)— — — 
Gross profit1,487.3 562.3 — — 2,049.6 
Operating income (loss)642.4 187.2 (149.0)— 680.6 
Income (loss) from continuing operations before income taxes638.6 183.4 (244.8)— 577.2 
Depreciation and amortization (1)
$96.9 $23.7 $59.6 $— $180.2 
Capital expenditures267.4 33.1 6.0 — 306.5 
(1)Depreciation and amortization includes stock-based compensation amortization expense.

The following table summarizes segment information for the year ended December 31, 2021:
(in millions)North AmericaInternationalCorporateEliminationsConsolidated
Bedding sales$3,825.9 $687.0 $— $— $4,512.9 
Other sales253.3 164.6 — — 417.9 
Net sales$4,079.2 $851.6 $— $— $4,930.8 
Inter-segment sales$1.8 $1.2 $— $(3.0)$— 
Inter-segment royalty expense (income)8.7 (8.7)— — — 
Gross profit1,678.0 480.7 — — 2,158.7 
Operating income (loss)856.7 200.0 (144.4)— 912.3 
Income (loss) from continuing operations before income taxes853.2 198.9 (228.1)— 824.0 
Depreciation and amortization (1)
$87.7 $18.1 $68.8 $— $174.6 
Capital expenditures89.7 18.0 15.6 — 123.3 
(1)Depreciation and amortization includes stock-based compensation amortization expense.
The following table summarizes segment information for the year ended December 31, 2020:
(in millions)North AmericaInternationalCorporateEliminationsConsolidated
Bedding sales$2,956.3 $397.5 $— $— $3,353.8 
Other sales202.9 120.2 — — 323.1 
Net sales$3,159.2 $517.7 $— $— $3,676.9 
Inter-segment sales$1.2 $0.7 $— $(1.9)$— 
Inter-segment royalty expense (income)9.4 (9.4)— — — 
Gross profit1,332.0 306.4 — — 1,638.4 
Operating income (loss)591.4 127.6 (186.9)— 532.1 
Income (loss) from continuing operations before income taxes590.1 120.2 (257.9)— 452.4 
Depreciation and amortization (1)
$76.3 $13.6 $112.6 $— $202.5 
Capital expenditures92.6 11.0 7.7 — 111.3 
(1)Depreciation and amortization includes stock-based compensation amortization expense.

    The following table summarizes property, plant and equipment, net, by geographic region:
December 31,December 31,
(in millions)
20222021
United States$682.0 $481.1 
All other109.1 102.4 
Total property, plant and equipment, net
$791.1 $583.5 

The following table summarizes operating lease right-of-use assets by geographic region:
December 31,December 31,
(in millions)
20222021
United States$339.6 $278.3 
United Kingdom122.9 162.8 
All other44.3 39.5 
Total operating lease right-of-use assets
$506.8 $480.6 

The following table summarizes net sales by geographic region:
Year Ended December 31,
(in millions)202220212020
United States$3,596.0 $3,751.3 $2,886.6 
All other1,325.2 1,179.5 790.3 
Total net sales$4,921.2 $4,930.8 $3,676.9