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Stockholders' Equity
 12 Months Ended
Dec. 31, 2024
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Stockholders' Equity
 
(a) Common and Preferred Stock. Somnigroup has 500.0 million authorized shares of common stock with $0.01 per share par value and 10.0 million authorized shares of preferred stock with $0.01 per share par value. The holders of the common stock are entitled to one vote for each share held of record on all matters submitted to a vote of stockholders. Subject to preferences that may be applicable to any outstanding preferred stock, holders of common stock are entitled to receive ratably such dividends as may be declared from time to time by the Board of Directors out of funds legally available for that purpose. In the event of liquidation, dissolution or winding up, the holders of common stock are entitled to share ratably in all assets remaining after payment of liabilities, subject to prior distribution rights of preferred stock, if any, then outstanding.
    
The Board of Directors is authorized, subject to any limitations prescribed by law, without further vote or action by the stockholders, to issue from time to time shares of preferred stock in one or more series. Each such series of preferred stock will have such number of shares, designations, preferences, voting powers, qualifications and special or relative rights or privileges as determined by the Board of Directors, which may include, among others, dividend rights, voting rights, redemption and sinking fund provisions, liquidation preferences, conversion rights and preemptive rights.

(b) Treasury Stock. As of December 31, 2024, the Company had approximately $774.5 million remaining under an existing share repurchase program initially authorized by the Board of Directors in 2016. While the Mattress Firm acquisition was pending, the Company temporarily suspended its share repurchase program and did not repurchase any shares under this program in the year ended December 31, 2024. The Company repurchased 0.1 million shares and 18.6 million shares under the program, for approximately $5.0 million and $621.2 million during the years ended December 31, 2023 and 2022, respectively.

In addition, the Company acquired shares upon the vesting of certain restricted stock units ("RSUs") and performance restricted stock units ("PRSUs"), which were withheld to satisfy tax withholding obligations during the years ended December 31, 2024, 2023 and 2022, respectively. The shares withheld were valued at the closing price of the stock on the New York Stock Exchange on the vesting date or first business day prior to vesting, resulting in approximately $43.8 million, $31.0 million and $46.2 million in treasury stock acquired during the years ended December 31, 2024, 2023 and 2022, respectively.
(c) AOCL. AOCL consisted of the following:
Year Ended December 31,
(in millions)
202420232022
Foreign Currency Translation
Balance at beginning of period
$(135.5)$(175.3)$(95.2)
Other comprehensive (loss) income:
Foreign currency translation adjustments (1)
(51.7)39.8 (80.1)
Balance at end of period
$(187.2)$(135.5)$(175.3)
Pension Benefits
Balance at beginning of period
$(1.2)$(1.6)$(4.0)
Other comprehensive income:
Net change from period revaluation
2.1 0.5 3.2 
Tax expense (2)
(0.5)(0.1)(0.8)
Total other comprehensive income
1.6 0.4 2.4 
Balance at end of period
$0.4 $(1.2)$(1.6)
(1)In 2024, 2023 and 2022, there were no tax impacts related to foreign currency translation adjustments and no amounts were reclassified to earnings.
(2)These amounts were included in the income tax provision in the accompanying Consolidated Statements of Income.