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Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes In The Carrying Amounts Of Goodwill
2023
Fair Value over Carrying Value divided by Carrying ValueDecember 31, 2023 Goodwill ValueCompound
Annual Growth Rate (CAGR)
Range for Sales		Terminal Values Long-term Growth Rate for Debt-Free Cash FlowDiscount Rate Ranges
Less than 50%
$1,018.1 
1-17%
3 %
10-12%
50-100%
99.6 
  < 1
3 
8
101-300%
372.1 
3-6
3 
8-10
$1,489.8 
< 1-17%
3 %
8-12%
2022
Fair Value over Carrying Value divided by Carrying ValueDecember 31, 2022 Goodwill ValueCAGR Range for SalesTerminal Values Long-term Growth Rate for Debt-Free Cash FlowDiscount 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%
Fair value in excess of carrying value for the
goodwill impairment testing performed during		Goodwill
 Triggering event
Fourth quarter
2023
Annual testing Second quarter
2023
Annual testing Second quarter
2022
As of
December 31, 2023
As of
December 31, 2022
Reporting unit with a triggering event
Bedding 1
19 %40 %54 %$906.5 $900.3 
Reporting units with no triggering event
Work Furniture74 78 99.6 98.4 
Aerospace Products44 40 67.0 66.3 
Hydraulic Cylinders 2
18 32 44.6 41.5 
1 The fourth quarter 2023 testing for the Bedding reporting unit included the impacts of the long-lived asset impairments discussed above. It also assumed a compound annual growth rate for sales of 2% and a discount rate of 10%.
2 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 (see Note Q) acquisition added goodwill.
The changes in the carrying amounts of goodwill are as follows:
Bedding ProductsSpecialized
Products		Furniture, Flooring & Textile ProductsTotal
Net goodwill as of January 1, 2022$908.3 $192.7 $348.6 $1,449.6 
Additions for current year acquisitions— 39.0 3.5 42.5 
Adjustments to prior year acquisitions— .3 — .3 
Allocations to divested businesses(.3)— — (.3)
Foreign currency translation adjustment(7.7)(4.6)(5.4)(17.7)
Net goodwill as of December 31, 2022900.3 227.4 346.7 1,474.4 
Adjustments to prior year acquisitions— 2.9 .8 3.7 
Foreign currency translation adjustment6.2 3.4 2.1 11.7 
Net goodwill as of December 31, 2023$906.5 $233.7 $349.6 $1,489.8 
Net goodwill as of December 31, 2023 is comprised of:
Gross goodwill$911.9 $325.8 $600.2 $1,837.9 
Accumulated impairment losses(5.4)(92.1)(250.6)(348.1)
Net goodwill as of December 31, 2023$906.5 $233.7 $349.6 $1,489.8 
Schedule of Intangible Assets Purchased
The gross carrying amount and accumulated amortization by intangible asset class and intangible assets acquired during the periods presented, included in "Other intangibles, net" on the Consolidated Balance Sheets, are as follows:
December 31, 2023Year Ended December 31, 2023
Gross Carrying AmountAccumulated AmortizationNet IntangiblesGross carrying amounts of items acquired
1
Weighted average life in years for items acquired
Customer-related intangibles$331.5 $244.7 $86.8 $— 0
Patents and trademarks103.6 59.8 43.8 1.5 19.3
Technology86.8 60.8 26.0 — 0
Non-compete agreements, supply agreements and other62.0 51.1 10.9 — 0
Total 2
$583.9 $416.4 $167.5 $1.5 19.3
December 31, 2022Year Ended December 31, 2022
Customer-related intangibles$622.6 $206.1 $416.5 $22.0 15.0
Patents and trademarks145.7 52.8 92.9 8.2 15.6
Technology196.6 51.7 144.9 13.4 13.9
Non-compete agreements, supply agreements and other66.9 45.8 21.1 .3 4.8
Total$1,031.8 $356.4 $675.4 $43.9 14.7
1 2022 includes $40.6 related to business acquisitions. For information regarding our business acquisitions, see Note Q.
2 We incurred impairment charges in 2023 associated with intangible assets as discussed in Note C.
Schedule of Estimated Amortization Expense
Estimated amortization expense for the next five years is as follows:
 
2024$21.2 
202519.7 
202617.9 
202716.5 
202815.5