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v3.25.1

Business Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2025
Segment Reporting [Abstract] |
Total Assets and Long-Lived Assets by Segment | The following table summarizes total assets by segment:
(in millions) | March 31, 2025 |  | December 31, 2024
Tempur Sealy North America | $ | 5,748.4 |  |  | $ | 5,575.2 |
Tempur Sealy International | 1,587.9 |  |  | 1,477.6 |
Mattress Firm | 7,401.9 |  |  | — |
Corporate | 2,035.1 |  |  | 3,580.0 |
Inter-segment eliminations | (5,443.6) |  |  | (4,652.4) |
Total assets | $ | 11,329.7 |  |  | $ | 5,980.4 |
The following table summarizes property, plant and equipment, net, by segment:
(in millions) | March 31, 2025 |  | December 31, 2024
Tempur Sealy North America | $ | 651.8 |  |  | $ | 687.7 |
Tempur Sealy International | 91.9 |  |  | 89.6 |
Mattress Firm | 191.8 |  |  | — |
Corporate | 32.0 |  |  | 33.8 |
Total property, plant and equipment, net | $ | 967.5 |  |  | $ | 811.1 |
The following table summarizes operating lease right-of-use assets by segment:
(in millions) | March 31, 2025 |  | December 31, 2024
Tempur Sealy North America | $ | 359.5 |  |  | $ | 407.1 |
Tempur Sealy International | 197.2 |  |  | 188.6 |
Mattress Firm | 1,259.0 |  |  | — |
Corporate | 2.8 |  |  | 3.1 |
Total operating lease right-of-use assets | $ | 1,818.5 |  |  | $ | 598.8 |
Segment Financial Information | The following table summarizes segment information for the three months ended March 31, 2025:
(in millions) | Tempur Sealy North America |  | Tempur Sealy International |  | Mattress Firm |  | Corporate |  | Eliminations |  | Consolidated
Net sales | $ | 706.2 |  |  | $ | 304.8 |  |  | 593.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,604.7 |
Inter-segment sales | 130.1 |  |  | 0.2 |  |  | — |  |  | — |  |  | (130.3) |  |  | — |
Total net sales and inter-segment sales | $ | 836.3 |  |  | $ | 305.0 |  |  | $ | 593.7 |  |  | $ | — |  |  | $ | (130.3) |  |  | $ | 1,604.7 |
Inter-segment royalty expense (income) | 6.2 |  |  | (6.2) |  |  | — |  |  | — |  |  | — |  |  | — |
Gross profit | 240.0 |  |  | 149.3 |  |  | 191.2 |  |  | — |  |  | — |  |  | 580.5 |
Advertising expense | 83.6 |  |  | 25.7 |  |  | 33.6 |  |  | — |  |  | — |  |  | 142.9 |
Other selling and marketing expense | 68.0 |  |  | 46.6 |  |  | 101.5 |  |  | 3.6 |  |  | — |  |  | 219.7 |
General, administrative and other expenses | 48.1 |  |  | 30.7 |  |  | 49.3 |  |  | 81.4 |  |  | — |  |  | 209.5 |
Equity income in earnings of unconsolidated affiliates | — |  |  | (4.8) |  |  | — |  |  | — |  |  | — |  |  | (4.8) |
Operating income (loss) | 40.3 |  |  | 51.1 |  |  | 6.8 |  |  | (85.0) |  |  | — |  |  | 13.2 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  | 61.3 |
Other expense, net |  |  |  |  |  |  |  |  |  |  | 1.2 |
Income (loss) before income taxes | 39.1 |  |  | 52.5 |  |  | 9.2 |  |  | (150.1) |  |  | — |  |  | (49.3) |
Depreciation and amortization (1) | $ | 30.8 |  |  | $ | 7.4 |  |  | $ | 16.7 |  |  | $ | 11.2 |  |  | $ | — |  |  | $ | 66.1 |
Capital expenditures | 8.0 |  |  | 6.1 |  |  | 9.2 |  |  | 0.7 |  |  | — |  |  | 24.0 |
(1)Depreciation and amortization includes stock-based compensation amortization expense. The following table summarizes segment information for the three months ended March 31, 2024:
(in millions) | Tempur Sealy North America |  | Tempur Sealy International |  |  |  | Corporate |  | Eliminations |  | Consolidated
Net sales | $ | 901.1 |  |  | $ | 288.3 |  |  |  |  | $ | — |  |  | $ | — |  |  | $ | 1,189.4 |
Inter-segment sales | 0.3 |  |  | 0.1 |  |  |  |  | — |  |  | (0.4) |  |  | — |
Total net sales and inter-segment sales | $ | 901.4 |  |  | $ | 288.4 |  |  |  |  | $ | — |  |  | $ | (0.4) |  |  | $ | 1,189.4 |
Inter-segment royalty expense (income) | 7.4 |  |  | (7.4) |  |  |  |  | — |  |  | — |  |  | — |
Gross profit | 336.7 |  |  | 137.6 |  |  |  |  | — |  |  | — |  |  | 474.3 |
Advertising expense | 84.4 |  |  | 23.6 |  |  |  |  | — |  |  | — |  |  | 108.0 |
Other selling and marketing expense | 69.2 |  |  | 45.4 |  |  |  |  | 4.1 |  |  | — |  |  | 118.7 |
General, administrative and other expenses | 48.7 |  |  | 28.7 |  |  |  |  | 43.6 |  |  | — |  |  | 121.0 |
Equity income in earnings of unconsolidated affiliates | — |  |  | (4.9) |  |  |  |  | — |  |  | — |  |  | (4.9) |
Operating income (loss) | 134.4 |  |  | 44.8 |  |  |  |  | (47.7) |  |  | — |  |  | 131.5 |
Interest expense, net |  |  |  |  |  |  |  |  |  |  | 34.3 |
Other income, net |  |  |  |  |  |  |  |  |  |  | (0.3) |
Income (loss) before income taxes | 131.4 |  |  | 47.7 |  |  |  |  | (81.6) |  |  | — |  |  | 97.5 |
Depreciation and amortization (1) | $ | 30.7 |  |  | $ | 6.5 |  |  |  |  | $ | 11.2 |  |  | $ | — |  |  | $ | 48.4 |
Capital expenditures | 20.7 |  |  | 6.2 |  |  |  |  | 4.6 |  |  | — |  |  | 31.5 |
(1)Depreciation and amortization includes stock-based compensation amortization expense.
Long-Lived Assets by Geographic Region | The following table summarizes property, plant and equipment, net by geographic region:
(in millions) | March 31, 2025 |  | December 31, 2024
United States | $ | 858.8 |  |  | $ | 704.1 |
All other | 108.7 |  |  | 107.0 |
Total property, plant and equipment, net | $ | 967.5 |  |  | $ | 811.1 |
The following table summarizes operating lease right-of-use assets by geographic region:
(in millions) | March 31, 2025 |  | December 31, 2024
United States | $ | 1,612.3 |  |  | $ | 401.0 |
All other | 206.2 |  |  | 197.8 |
Total operating lease right-of-use assets | $ | 1,818.5 |  |  | $ | 598.8 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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