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Business Segment Information
 6 Months Ended
Jun. 30, 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)June 30, 2025December 31, 2024
Tempur Sealy North America$5,970.9 $5,575.2 
Tempur Sealy International1,491.1 1,477.6 
Mattress Firm7,573.2 — 
Corporate2,273.8 3,580.0 
Inter-segment eliminations(5,932.8)(4,652.4)
Total assets$11,376.2 $5,980.4 
 The following table summarizes property, plant and equipment, net, by segment:
(in millions)June 30, 2025December 31, 2024
Tempur Sealy North America$628.2 $687.7 
Tempur Sealy International101.0 89.6 
Mattress Firm260.3 — 
Corporate31.6 33.8 
Total property, plant and equipment, net$1,021.1 $811.1 
     
The following table summarizes operating lease right-of-use assets by segment:
(in millions)June 30, 2025December 31, 2024
Tempur Sealy North America$341.2 $407.1 
Tempur Sealy International220.5 188.6 
Mattress Firm1,276.2 — 
Corporate2.4 3.1 
Total operating lease right-of-use assets$1,840.3 $598.8 
The following table summarizes segment information for the three months ended June 30, 2025:
(in millions)Tempur Sealy North AmericaTempur Sealy InternationalMattress FirmCorporateEliminationsConsolidated
Net sales$638.4 $293.6 $948.8 $— $— $1,880.8 
Inter-segment sales263.5 0.1 — — (263.6)— 
Total net sales and inter-segment sales$901.9 $293.7 $948.8 $— $(263.6)$1,880.8 
Inter-segment royalty expense (income)11.1 (11.1)— — — — 
Gross profit348.2 141.6 337.4 — — 827.2 
Advertising expense103.3 24.1 62.1 — — 189.5 
Other selling and marketing expense64.0 50.9 151.8 4.3 — 271.0 
General, administrative and other expenses41.0 29.8 56.2 48.9 — 175.9 
Loss on disposal of business9.8 — 4.1 — — 13.9 
Equity income in earnings of unconsolidated affiliates— (3.0)— — — (3.0)
Operating income (loss)130.1 39.8 63.2 (53.2)— 179.9 
Interest expense, net72.5 
Other expense, net4.7 
Income before income taxes102.7 
Depreciation and amortization (1)
$30.2 $7.7 $17.9 $12.8 $— $68.6 
Capital expenditures3.3 7.9 23.6 1.9 — 36.7 
(1)Depreciation and amortization includes stock-based compensation amortization expense.
The following table summarizes segment information for the three months ended June 30, 2024:
(in millions)Tempur Sealy North AmericaTempur Sealy InternationalCorporateEliminationsConsolidated
Net sales$978.4 $255.2 $— $— $1,233.6 
Inter-segment sales0.2 — — (0.2)— 
Total net sales and inter-segment sales$978.6 $255.2 $— $(0.2)$1,233.6 
Inter-segment royalty expense (income)9.3 (9.3)— — — 
Gross profit393.7 123.9 — — 517.6 
Advertising expense98.5 20.8 — — 119.3 
Other selling and marketing expense69.1 47.0 4.2 — 120.3 
General, administrative and other expenses45.7 27.4 34.7 — 107.8 
Equity income in earnings of unconsolidated affiliates— (3.1)— — (3.1)
Operating income (loss)180.4 31.8 (38.9)— 173.3 
Interest expense, net33.4 
Other income, net(0.6)
Income before income taxes140.5 
Depreciation and amortization (1)
$31.5 $6.7 $11.8 $— $50.0 
Capital expenditures16.0 8.9 3.6 — 28.5 
(1)Depreciation and amortization includes stock-based compensation amortization expense.
The following table summarizes segment information for the six months ended June 30, 2025:
(in millions)Tempur Sealy North AmericaTempur Sealy InternationalMattress FirmCorporateEliminationsConsolidated
Net sales$1,344.6 $598.4 $1,542.5 $— $— $3,485.5 
Inter-segment sales393.6 0.3 — — (393.9)— 
Total net sales and inter-segment sales$1,738.2 $598.7 $1,542.5 $— $(393.9)$3,485.5 
Inter-segment royalty expense (income)17.3 (17.3)— — — — 
Gross profit588.2 290.9 528.6 — — 1,407.7 
Advertising expense186.9 49.8 95.7 — — 332.4 
Other selling and marketing expense132.0 97.5 253.3 7.9 — 490.7 
General, administrative and other expenses89.1 60.5 105.5 130.3 — 385.4 
Loss on disposal of business9.8 — 4.1 — — 13.9 
Equity income in earnings of unconsolidated affiliates— (7.8)— — — (7.8)
Operating income (loss)170.4 90.9 70.0 (138.2)— 193.1 
Interest expense, net133.8 
Other income, net5.9 
Income before income taxes53.4 
Depreciation and amortization (1)
$61.0 $15.1 $34.6 $24.0 $— $134.7 
Capital expenditures11.3 14.0 32.8 2.6 — 60.7 
(1)Depreciation and amortization includes stock-based compensation amortization expense.
The following table summarizes segment information for the six months ended June 30, 2024:
(in millions)Tempur Sealy North AmericaTempur Sealy InternationalCorporateEliminationsConsolidated
Net sales$1,879.5 $543.5 $— $— $2,423.0 
Inter-segment sales0.5 0.1 — (0.6)— 
Total net sales and inter-segment sales1,880.0 543.6 — (0.6)2,423.0 
Inter-segment royalty expense (income)16.7 (16.7)— — — 
Gross profit730.4 261.5 — — 991.9 
Advertising expense182.9 44.4 — — 227.3 
Other selling and marketing expense138.3 92.4 8.3 — 239.0 
General, administrative and other expenses94.4 56.1 78.3 — 228.8 
Equity income in earnings of unconsolidated affiliates— (8.0)— — (8.0)
Operating income (loss)314.8 76.6 (86.6)— 304.8 
Interest expense, net67.7 
Other income, net(0.9)
Income before income taxes238.0 
Depreciation and amortization (1)
$62.2 $13.2 $23.0 $— $98.4 
Capital expenditures36.7 15.1 8.2 — 60.0 
(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, 2025December 31, 2024
United States
$902.5 $704.1 
All other118.6 107.0 
Total property, plant and equipment, net
$1,021.1 $811.1 

The following table summarizes operating lease right-of-use assets by geographic region:
(in millions)June 30, 2025December 31, 2024
United States$1,611.0 $401.0 
All other229.3 197.8 
Total operating lease right-of-use assets$1,840.3 $598.8