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Business Segment Information
 9 Months Ended
Sep. 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)September 30, 2025December 31, 2024
Tempur Sealy North America$5,590.3 $5,575.2 
Tempur Sealy International1,522.7 1,477.6 
Mattress Firm7,769.4 — 
Corporate2,332.0 3,580.0 
Inter-segment eliminations(5,814.9)(4,652.4)
Total assets$11,399.5 $5,980.4 

 The following table summarizes property, plant and equipment, net, by segment:
(in millions)September 30, 2025December 31, 2024
Tempur Sealy North America$612.3 $687.7 
Tempur Sealy International110.5 89.6 
Mattress Firm262.7 — 
Corporate29.8 33.8 
Total property, plant and equipment, net$1,015.3 $811.1 
     
The following table summarizes operating lease right-of-use assets by segment:
(in millions)September 30, 2025December 31, 2024
Tempur Sealy North America$324.5 $407.1 
Tempur Sealy International211.4 188.6 
Mattress Firm1,345.4 — 
Corporate3.1 3.1 
Total operating lease right-of-use assets$1,884.4 $598.8 
The following table summarizes segment information for the three months ended September 30, 2025:
(in millions)Tempur Sealy North AmericaTempur Sealy InternationalMattress FirmCorporateEliminationsConsolidated
Net sales$736.1 $315.7 $1,070.8 $— $— $2,122.6 
Inter-segment sales314.0 0.1 — — (314.1)— 
Total net sales and inter-segment sales$1,050.1 $315.8 $1,070.8 $— $(314.1)$2,122.6 
Inter-segment royalty expense (income)9.6 (9.6)— — — — 
Gross profit429.6 155.1 368.1 — — 952.8 
Advertising expense111.0 21.8 59.2 — — 192.0 
Other selling and marketing expense62.6 50.5 170.7 5.0 — 288.8 
General, administrative and other expenses41.6 28.9 57.0 32.9 — 160.4 
Equity income in earnings of unconsolidated affiliates— (3.1)— — — (3.1)
Operating income (loss)$214.4 $57.0 $81.2 $(37.9)$— $314.7 
Interest expense, net69.9 
Other expense, net10.9 
Income before income taxes$233.9 
Depreciation and amortization (1)
$30.0 $7.9 $23.1 $15.0 $— $76.0 
Capital expenditures7.1 15.2 25.1 0.5 — 47.9 
(1)Depreciation and amortization includes stock-based compensation amortization expense.
The following table summarizes segment information for the three months ended September 30, 2024:
(in millions)Tempur Sealy North AmericaTempur Sealy InternationalCorporateEliminationsConsolidated
Net sales$1,015.3 $284.7 $— $— $1,300.0 
Inter-segment sales— — — — — 
Total net sales and inter-segment sales$1,015.3 $284.7 $— $— $1,300.0 
Inter-segment royalty expense (income)9.3 (9.3)— — — 
Gross profit410.6 140.9 — — 551.5 
Advertising expense98.2 21.1 — — 119.3 
Other selling and marketing expense67.1 43.4 3.8 — 114.3 
General, administrative and other expenses52.0 27.2 39.4 — 118.6 
Equity income in earnings of unconsolidated affiliates— (2.5)— — (2.5)
Operating income (loss)$193.3 $51.7 $(43.2)$— $201.8 
Interest expense, net30.8 
Other expense, net0.4 
Income before income taxes$170.6 
Depreciation and amortization (1)
$32.3 $7.3 $11.2 $— $50.8 
Capital expenditures9.7 6.2 0.5 — 16.4 
(1)Depreciation and amortization includes stock-based compensation amortization expense.
The following table summarizes segment information for the nine months ended September 30, 2025:
(in millions)Tempur Sealy North AmericaTempur Sealy InternationalMattress FirmCorporateEliminationsConsolidated
Net sales$2,080.7 $914.1 $2,613.3 $— $— $5,608.1 
Inter-segment sales707.6 0.4 — — (708.0)— 
Total net sales and inter-segment sales$2,788.3 $914.5 $2,613.3 $— $(708.0)$5,608.1 
Inter-segment royalty expense (income)26.9 (26.9)— — — — 
Gross profit1,017.8 446.0 896.7 — — 2,360.5 
Advertising expense297.9 71.6 154.9 — — 524.4 
Other selling and marketing expense194.6 148.0 424.0 12.9 — 779.5 
General, administrative and other expenses130.7 89.4 162.5 163.2 — 545.8 
Loss on disposal of business9.8 — 4.1 — — 13.9 
Equity income in earnings of unconsolidated affiliates— (10.9)— — — (10.9)
Operating income (loss)$384.8 $147.9 $151.2 $(176.1)$— $507.8 
Interest expense, net203.7 
Other expense, net16.8 
Income before income taxes$287.3 
Depreciation and amortization (1)
$91.0 $23.0 $57.7 $39.0 $— $210.7 
Capital expenditures18.4 29.2 57.9 3.1 — 108.6 
(1)Depreciation and amortization includes stock-based compensation amortization expense.
The following table summarizes segment information for the nine months ended September 30, 2024:
(in millions)Tempur Sealy North AmericaTempur Sealy InternationalCorporateEliminationsConsolidated
Net sales$2,894.8 $828.2 $— $— $3,723.0 
Inter-segment sales0.5 0.1 — (0.6)— 
Total net sales and inter-segment sales2,895.3 828.3 — (0.6)3,723.0 
Inter-segment royalty expense (income)26.0 (26.0)— — — 
Gross profit1,141.0 402.4 — — 1,543.4 
Advertising expense281.1 65.5 — — 346.6 
Other selling and marketing expense205.4 135.8 12.1 — 353.3 
General, administrative and other expenses146.4 83.3 117.7 — 347.4 
Equity income in earnings of unconsolidated affiliates— (10.5)— — (10.5)
Operating income (loss)$508.1 $128.3 $(129.8)$— $506.6 
Interest expense, net98.5 
Other income, net(0.5)
Income before income taxes$408.6 
Depreciation and amortization (1)
$94.5 $20.6 $34.1 $— $149.2 
Capital expenditures46.5 21.3 8.6 — 76.4 
(1)Depreciation and amortization includes stock-based compensation amortization expense.
The following table summarizes property, plant and equipment, net by geographic region:
(in millions)
September 30, 2025December 31, 2024
United States
$887.1 $704.1 
All other128.2 107.0 
Total property, plant and equipment, net
$1,015.3 $811.1 

The following table summarizes operating lease right-of-use assets by geographic region:
(in millions)September 30, 2025December 31, 2024
United States$1,665.1 $401.0 
All other219.3 197.8 
Total operating lease right-of-use assets$1,884.4 $598.8