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Restructuring and Related Activities (Tables) | 9 Months Ended
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Sep. 30, 2025
Restructuring and Related Activities [Abstract] |
Schedule of Restructuring-Related Costs | The following table presents all 2024 Plan restructuring and restructuring-related activity, including impairments, for the periods presented:
| Total Approximate Amount Expected to be Incurred |  | Total Amount Incurred to Date Since January 1, 2024 |  | Nine Months Ended September 30, 2025 |  | Total Amount Incurred in 2024 |  |  |  |
2024 Restructuring Plan activity: |  |  |  |  |  |  |  |  |  |  |
Net cash restructuring and restructuring-related | $ | 40.0 |  |  | $ | 38.1 |  |  | $ | 7.8 |  |  | $ | 30.3 |  |  |  |  |
Net non-cash restructuring and restructuring-related | 25.0 |  |  | 14.1 |  |  | .8 |  |  | 13.3 |  |  |  |  |
Total net restructuring and restructuring-related costs | 65.0 |  |  | 52.2 |  |  | 8.6 |  |  | 43.6 |  |  |  |  |
Goodwill and long-lived asset impairment costs 1 | 10.0 |  |  | 6.2 |  |  | 2.0 |  |  | 4.2 |  |  |  |  |
Total 2024 Restructuring Plan activity | $ | 75.0 |  |  | $ | 58.4 |  |  | $ | 10.6 |  |  | $ | 47.8 |  |  |  |  |
1 This includes $.7 of goodwill impairment in 2024 related to a small U.S. machinery business within the Bedding Products segment that reached held-for-sale status in the fourth quarter of 2024 and was sold in the first quarter of 2025 as discussed in Note O. The table below presents the restructuring and restructuring-related activity for the periods presented:
| Income Statement Presentation |  | Nine Months Ended September 30, 2025 |  | Nine Months Ended September 30, 2024 |  | Three Months Ended September 30, 2025 |  | Three Months Ended September 30, 2024
2024 Plan restructuring costs (gains): |  |  |  |  |  |  |  |
Termination benefits, relocation, and other restructuring costs | Other (income) expense, net |  |  |  |  |  |  |  |
(See Note K) |  | $ | 5.1 |  |  | $ | 16.5 |  |  | $ | .7 |  |  | $ | 4.8 |
2024 Plan restructuring-related costs (gains): |  |  |  |  |  |  |  |
Inventory obsolescence and other | Cost of goods sold |  | .8 |  |  | 4.5 |  |  | .3 |  |  | .7 |
Professional services and other | Selling and administrative expenses |  | 1.1 |  |  | 11.7 |  |  | — |  |  | 6.3 |
Net loss (gain) on disposal of assets and businesses | Net gain on disposal of assets and businesses |  | 1.6 |  |  | (1.6) |  |  | — |  |  | (.1) |
Total 2024 Plan restructuring-related costs (gains) |  | 3.5 |  |  | 14.6 |  |  | .3 |  |  | 6.9 |
Total 2024 Plan net restructuring and restructuring-related costs (gains) |  | $ | 8.6 |  |  | $ | 31.1 |  |  | $ | 1.0 |  |  | $ | 11.7 |
Other restructuring costs (gains): |  |  |  |  |  |  |  |
Termination benefits, relocation, and other restructuring costs 1, 2 | Other (income) expense, net |  |  |  |  |  |  |  |
(See Note K) |  | $ | 2.5 |  |  | $ | — |  |  | $ | 1.0 |  |  | $ | — |
Other restructuring-related (gains) costs: |  |  |  |  |  |  |  |
Inventory obsolescence and other 2 | Cost of goods sold |  | 1.5 |  |  | — |  |  | 1.5 |  |  | — |
Professional services and other 1 | Selling and administrative expenses |  | .6 |  |  | — |  |  | — |  |  | — |
Net (gain) loss on disposal of assets and businesses | Net gain on disposal of assets and businesses |  | (1.0) |  |  | — |  |  | (.1) |  |  | — |
Gain on sale of Aerospace Products Group | Gain on sale of Aerospace Products Group |  | (86.8) |  |  | — |  |  | (86.8) |  |  | — |
Total other restructuring-related (gains) costs |  | (85.7) |  |  | — |  |  | (85.4) |  |  | — |
Total other net restructuring and restructuring-related costs (gains) |  | $ | (83.2) |  |  | $ | — |  |  | $ | (84.4) |  |  | $ | — |
1 This includes cash charges for divestiture-related expenses associated with the sale of our Aerospace Products Group on August 29, 2025, as discussed in Note O. Costs were $2.0 for the nine months ended September 30, 2025. There were no costs for the nine months ended September 30, 2024. 2 In September 2025, we announced the consolidation of our Kentucky Adjustable Bed manufacturing operation into our Mexico operation by the end of this year. We have incurred costs of $2.0 related to this consolidation for the nine months ended September 30, 2025. Net restructuring and restructuring-related 2024 Plan costs by segment were as follows:
| Nine Months Ended September 30, 2025 |  | Nine Months Ended September 30, 2024 |  | Three Months Ended September 30, 2025 |  | Three Months Ended September 30, 2024
Bedding Products | $ | 4.6 |  |  | $ | 24.0 |  |  | $ | .3 |  |  | $ | 7.4 |
Specialized Products | 2.9 |  |  | 5.1 |  |  | .6 |  |  | 3.8 |
Furniture, Flooring & Textile Products | 1.1 |  |  | 2.0 |  |  | .1 |  |  | .5 |
Total net restructuring and restructuring-related costs | $ | 8.6 |  |  | $ | 31.1 |  |  | $ | 1.0 |  |  | $ | 11.7 |
The accrued liability associated with the 2024 Plan consisted of the following:
| Balance at December 31, 2024 |  | Add: 2025 Charges |  | Less: 2025 Payments |  | Balance at September 30, 2025
Termination benefits | $ | .8 |  |  | $ | 2.2 |  |  | $ | 2.8 |  |  | $ | .2 |
Contract termination costs | — |  |  | .1 |  |  | .1 |  |  | — |
Relocation and other restructuring costs | — |  |  | 2.8 |  |  | 2.8 |  |  | — |
Total | $ | .8 |  |  | $ | 5.1 |  |  | $ | 5.7 |  |  | $ | .2 |

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- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 5.P.3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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