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Business Segment Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
 
The Company operates in three segments: Tempur Sealy North America, Tempur Sealy International and Mattress Firm. These segments are strategic business units that are managed separately. The Tempur Sealy North America segment consists of manufacturing, distribution and retail subsidiaries and licensees located in the U.S., Canada and Mexico (other than Mattress Firm retail and distribution locations). The Tempur Sealy International segment consists of manufacturing, distribution and retail subsidiaries, joint ventures and licensees located in Europe, Asia-Pacific and Latin America (other than Mexico). The Mattress Firm segment consists of retail stores and distribution centers located in the U.S. The Company evaluates segment performance based on net sales, gross profit and operating income.

The Company's Tempur Sealy North America and Tempur Sealy International segment assets include investments in subsidiaries that are appropriately eliminated in the Company's accompanying Condensed Consolidated Financial Statements. The remaining inter-segment balance sheet eliminations are comprised of intercompany accounts receivable and payable. Inter-segment sales are made primarily at prices that approximate market-based selling prices.
The following table summarizes total assets by segment:
(in millions)March 31, 2025December 31, 2024
Tempur Sealy North America$5,748.4 $5,575.2 
Tempur Sealy International1,587.9 1,477.6 
Mattress Firm7,401.9 — 
Corporate2,035.1 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, 2025December 31, 2024
Tempur Sealy North America$651.8 $687.7 
Tempur Sealy International91.9 89.6 
Mattress Firm191.8 — 
Corporate32.0 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, 2025December 31, 2024
Tempur Sealy North America$359.5 $407.1 
Tempur Sealy International197.2 188.6 
Mattress Firm1,259.0 — 
Corporate2.8 3.1 
Total operating lease right-of-use assets$1,818.5 $598.8 
The following table summarizes segment information for the three months ended March 31, 2025:
(in millions)Tempur Sealy North AmericaTempur Sealy InternationalMattress FirmCorporateEliminationsConsolidated
Net sales$706.2 $304.8 593.7 $— $— $1,604.7 
Inter-segment sales130.1 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 profit240.0 149.3 191.2 — — 580.5 
Advertising expense83.6 25.7 33.6 — — 142.9 
Other selling and marketing expense68.0 46.6 101.5 3.6 — 219.7 
General, administrative and other expenses48.1 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, net61.3 
Other expense, net1.2 
Income (loss) before income taxes39.1 52.5 9.2 (150.1)— (49.3)
Depreciation and amortization (1)
$30.8 $7.4 $16.7 $11.2 $— $66.1 
Capital expenditures8.0 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 AmericaTempur Sealy InternationalCorporateEliminationsConsolidated
Net sales$901.1 $288.3 $— $— $1,189.4 
Inter-segment sales0.3 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 profit336.7 137.6 — — 474.3 
Advertising expense84.4 23.6 — — 108.0 
Other selling and marketing expense69.2 45.4 4.1 — 118.7 
General, administrative and other expenses48.7 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, net34.3 
Other income, net(0.3)
Income (loss) before income taxes131.4 47.7 (81.6)— 97.5 
Depreciation and amortization (1)
$30.7 $6.5 $11.2 $— $48.4 
Capital expenditures20.7 6.2 4.6 — 31.5 
(1)Depreciation and amortization includes stock-based compensation amortization expense.
The following table summarizes property, plant and equipment, net by geographic region:
(in millions)
March 31, 2025December 31, 2024
United States
$858.8 $704.1 
All other108.7 107.0 
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, 2025December 31, 2024
United States$1,612.3 $401.0 
All other206.2 197.8 
Total operating lease right-of-use assets$1,818.5 $598.8