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GOODWILL IMPAIRMENT TESTING (Tables) | 9 Months Ended
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Sep. 30, 2023
Restructuring and Related Activities [Abstract] |
Summary of Goodwill |
2023
Fair Value over Carrying Value divided by Carrying Value |  | September 30, 2023 Goodwill Value |  | Compound Annual Growth Rate (CAGR) Range for Sales |  | Terminal Values Long-term Growth Rate for Debt-Free Cash Flow |  | Discount Rate Ranges
Less than 50% |  | $ | 1,010.0 |  |  | 1% - 17% |  | 3 | % |  | 10% - 12%
50% - 100% |  | 97.9 |  |  | < 1 |  | 3 |  |  | 8
101% - 300% |  | 367.5 |  |  | 3 - 6 |  | 3 |  |  | 8 - 10
|  | $ | 1,475.4 |  |  | < 1% - 17% |  | 3 | % |  | 8% - 12%
2022
Fair Value over Carrying Value divided by Carrying Value |  | December 31, 2022 Goodwill Value |  | CAGR Range for Sales |  | Terminal Values Long-term Growth Rate for Debt-Free Cash Flow |  | Discount Rate Ranges
Less than 50% |  | $ | 107.8 |  |  | 4% - 9% |  | 3 | % |  | 12%
50% - 100% |  | 998.7 |  |  | 3 - 5 |  | 3 |  |  | 10
101% - 300% |  | 248.3 |  |  | 1 - 3 |  | 3 |  |  | 10
Greater than 300% |  | 119.6 |  |  | 8 |  | 3 |  |  | 12
|  | $ | 1,474.4 |  |  | 1% - 9% |  | 3 | % |  | 10% - 12%
Reporting units where fair value exceeded carrying value by less than 100% are summarized in the table below:
| Fair value in excess of carrying value |  | Goodwill
| Goodwill impairment testing as performed in the second quarter 2023 |  | Goodwill impairment testing as performed in the second quarter 2022 |  | As of September 30, 2023 |  | As of December 31, 2022
Bedding | 40 | % |  | 54 | % |  | $ | 900.5 |  |  | $ | 900.3 |
Work Furniture | 74 |  |  | 78 |  |  | 97.9 |  |  | 98.4 |
Aerospace Products | 44 |  |  | 40 |  |  | 66.5 |  |  | 66.3 |
Hydraulic Cylinders 1 | 18 |  |  | 32 |  |  | 43.0 |  |  | 41.5 |
1 At the time of our annual goodwill impairment testing in second quarter 2022, there was no goodwill associated with this reporting unit, but an August 2022 acquisition added goodwill.

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