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Impairment Charges | 9 Months Ended
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Sep. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Impairment Charges | Impairment Charges Pretax impairment charges are reported in “Impairments” in the Consolidated Statements of Operations and are summarized in the table below.
|  | Nine Months Ended September 30, 2025 |  | Nine Months Ended September 30, 2024
|  |  | Other Long-Lived Assets Impairment |  |  |  | Goodwill Impairment |  | Other Long-Lived Assets Impairment |  | Total Impairments
Bedding Products |  |  | $ | 2.0 |  |  |  |  | $ | 587.2 |  |  | $ | 3.2 |  |  | $ | 590.4 |
Specialized Products |  |  | — |  |  |  |  | 43.6 |  |  | — |  |  | 43.6 |
Furniture, Flooring & Textile Products |  |  | — |  |  |  |  | 44.5 |  |  | — |  |  | 44.5 |
Total impairment charges |  |  | $ | 2.0 |  |  |  |  | $ | 675.3 |  |  | $ | 3.2 |  |  | $ | 678.5 |
|  |  | Three Months Ended September 30, 2025 |  | Three Months Ended September 30, 2024
|  |  | Other Long-Lived Assets Impairment |  |  |  | Goodwill Impairment |  | Other Long-Lived Assets Impairment |  | Total Impairments
Bedding Products |  |  | $ | .8 |  |  |  |  | $ | — |  |  | $ | .6 |  |  | $ | .6 |
Total impairment charges |  |  | $ | .8 |  |  |  |  | $ | — |  |  | $ | .6 |  |  | $ | .6 |
Goodwill We test goodwill for impairment at the reporting unit level (the business groups that are one level below the operating segments) when triggering events occur, or at least annually. We perform our annual goodwill impairment testing in the second quarter. Our 2025 annual goodwill testing did not indicate any impairments. There were no triggering events or impairments indicated in the three and nine months ending September 30, 2025. The 2024 annual goodwill impairment testing resulted in a $675.3 non-cash goodwill impairment charge. In general, the fair values for our reporting units decreased versus 2023 due to macroeconomic pressures, including low demand, particularly in residential end markets. The fair values of our reporting units were reconciled to our consolidated market capitalization, which decreased due to the significant decline in stock price during the second quarter of 2024. The fair values of our reporting units in relation to their respective carrying values and significant assumptions used are presented in the tables below. If actual results differ materially from estimates used in our calculations, we could incur future impairment charges. These tables exclude Hydraulic Cylinders, as this unit had no goodwill remaining after the second quarter 2024 impairment of $43.6.
2025
Fair Value over Carrying Value divided by Carrying Value |  | September 30, 2025 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 |  | $ | 445.4 |  |  | <1% - 4% |  | 3 | % |  | 15% - 17%
50% - 100% |  | 303.1 |  |  | (2) - 4 |  | 3 |  |  | 15 - 17
|  | $ | 748.5 |  |  | (2%) - 8% |  | 3 | % |  | 15% - 20%
2024
Fair Value over Carrying Value divided by Carrying Value |  | December 31, 2024 Goodwill Value |  | CAGR Range for Sales |  | Terminal Values Long-term Growth Rate for Debt-Free Cash Flow |  | Discount Rate Ranges
Less than 50% 1 |  | $ | 430.4 |  |  | (1%) - 12% |  | 3 | % |  | 14% - 17%
101% - 300% |  | 364.0 |  |  | 3 - 7 |  | 3 |  |  | 14
|  | $ | 794.4 |  |  | (1%) - 12% |  | 3 | % |  | 14% - 17%
1 This category includes Bedding, Home Furniture, and Work Furniture for 2025 and Bedding, Aerospace, and Work Furniture for 2024. •The fair value of our Bedding reporting unit exceeded its carrying value by 20% at our second quarter 2025 testing date. The fair value of our Bedding reporting unit was less than its carrying value at our second quarter 2024 testing date, resulting in a partial goodwill impairment of $587.2. Goodwill associated with this reporting unit was $322.7 at September 30, 2025 and $310.0 at December 31, 2024. •We sold our Aerospace reporting unit in the third quarter of 2025 as discussed in Note O. At our second quarter 2025 testing date its fair value exceeded its carrying value by 48%. Goodwill was $66.8 at December 31, 2024. •The fair value of our Home Furniture reporting unit exceeded its carrying value by 34% at our second quarter 2025 testing date. Goodwill associated with this reporting unit was $68.3 at September 30, 2025 and $67.7 at December 31, 2024. •The fair value of our Work Furniture reporting unit exceeded its carrying value by 29% at our second quarter 2025 testing date. The fair value of our Work Furniture reporting unit was less than its carrying value at our second quarter 2024 testing date, resulting in a partial goodwill impairment of $44.5. Goodwill associated with this reporting unit was $54.4 at September 30, 2025 and $53.6 at December 31, 2024.
Other long-lived assets We review material intangibles mid-year and other long-lived assets for recoverability at year end and whenever events or changes in circumstances indicate that the carrying value may not be recoverable. All long-lived asset impairment charges for the three and nine months ended September 30, 2025 and September 30, 2024 were related to the 2024 Restructuring Plan.

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- Definition The entire disclosure for the details of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. Disclosure may also include a description of the impaired asset and facts and circumstances leading to the impairment, amount of the impairment loss and where the loss is located in the income statement, method(s) for determining fair value, and the segment in which the impaired asset is reported. + References No definition available. + Details
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