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Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
We have three operating segments that supply a wide range of products:
•Bedding Products: This segment supplies a variety of components used by bedding manufacturers in the production and assembly of their finished products, as well as produces private label finished mattresses and adjustable bed bases. This segment is also vertically integrated in the production and supply of specialty foam chemicals, steel rod, and drawn steel wire to our own operations and to external customers. We also supply steel rod and wire to trade customers that operate in a broad range of markets.
•Specialized Products: From this segment, we supply lumbar support systems, seat suspension systems, motors and actuators, and control cables used by automotive manufacturers. We also produce and distribute engineered hydraulic cylinders used in the material-handling and heavy-construction industries. On August 29, 2025, we divested our Aerospace Products Group, as discussed in Note O to the Consolidated Condensed Financial Statements on page 24.
•Furniture, Flooring & Textile Products: Operations in this segment supply a wide range of components for residential and work furniture manufacturers, as well as select lines of private label finished furniture. We also produce or distribute carpet cushion, hard surface flooring underlayment, and textile and geo components.
Our reportable segments are the same as our operating segments, which correspond with our management organizational structure. Each of our segments has an executive vice president who has accountability to, and maintains regular contact with, our CEO, who is the chief operating decision maker (CODM).
The accounting policies used in the preparation of the segment information are the same as those used for the consolidated financial statements. Earnings Before Interest and Taxes (EBIT) is used by the CODM to evaluate segment performance, allocate overall resources, and determine management incentive compensation. Intersegment sales are made primarily at prices that approximate market-based selling prices. Centrally incurred costs are allocated to the segments based on estimates of services used by the segment. Certain of our general and administrative costs and miscellaneous corporate income and expenses are allocated to the segments based on sales or other appropriate metrics. These allocated corporate costs include depreciation and other costs and income related to assets that are not allocated or otherwise included in the segment assets.
A summary of segment results for the periods presented is as follows:
Bedding ProductsSpecialized ProductsFurniture, Flooring & Textile ProductsTotal
Three Months Ended September 30, 2025
Trade sales 1
$402.5 $277.5 $356.4 $1,036.4 
Inter-segment sales5.0 .6 2.1 7.7 
Total segment sales407.5 278.1 358.5 1,044.1 
Less:
Depreciation and amortization13.2 7.9 4.4 25.5 
Nonoperating assets depreciation and amortization 2
1.5 1.0 1.4 3.9 
Total depreciation and amortization14.7 8.9 5.8 29.4 
Gain on sale of Aerospace Products Group (Note O)
— (86.8)— (86.8)
Restructuring, restructuring-related, and impairment charges (Note E and Note F)
3.1 .9 .1 4.1 
Gain on sale of real estate— — (2.5)(2.5)
Gain from net insurance proceeds(13.1)— — (13.1)
Other segment items 3
366.4 242.2 333.1 941.7 
Segment EBIT$36.4 $112.9 $22.0 171.3 
Intersegment eliminations and other(.2)
Interest expense net of interest income(16.7)
Earnings (loss) before income taxes$154.4 
Bedding ProductsSpecialized ProductsFurniture, Flooring & Textile ProductsTotal
Three Months Ended September 30, 2024
Trade sales 1
$445.5 $299.9 $356.3 $1,101.7 
Inter-segment sales6.1 1.5 2.1 9.7 
Total segment sales451.6 301.4 358.4 1,111.4 
Less:
Depreciation and amortization14.8 11.0 5.4 31.2 
Nonoperating assets depreciation and amortization 2
2.1 1.4 1.7 5.2 
Total depreciation and amortization16.9 12.4 7.1 36.4 
Other segment items:
Restructuring, restructuring-related, and impairment charges (Note E and Note F)
8.0 3.8 .5 12.3 
Gain on sale of real estate(14.0)— — (14.0)
Other segment items 3
415.2 260.4 323.4 999.0 
Segment EBIT$25.5 $24.8 $27.4 77.7 
Intersegment eliminations and other— 
Interest expense net of interest income(20.0)
Earnings (loss) before income taxes$57.7 
Bedding ProductsSpecialized ProductsFurniture, Flooring & Textile ProductsTotal
Nine Months Ended September 30, 2025
Trade sales 1
$1,184.6 $881.7 $1,050.2 $3,116.5 
Inter-segment sales15.4 .9 5.8 22.1 
Total segment sales1,200.0 882.6 1,056.0 3,138.6 
Less:
Depreciation and amortization39.5 26.5 13.9 79.9 
Nonoperating assets depreciation and amortization 2
4.1 3.0 3.7 10.8 
Total depreciation and amortization43.6 29.5 17.6 90.7 
Gain on sale of Aerospace Products Group (Note O)
— (86.8)— (86.8)
Restructuring, restructuring-related, and impairment charges (Note E and Note F)
8.6 4.9 1.1 14.6 
Gain on sale of real estate(16.7)(1.7)(5.7)(24.1)
Gain from net insurance proceeds(13.1)— — (13.1)
Other segment items 3
1,104.4 756.7 971.8 2,832.9 
Segment EBIT$73.2 $180.0 $71.2 324.4 
Intersegment eliminations and other— 
Interest expense net of interest income(53.2)
Earnings (loss) before income taxes$271.2 
Nine Months Ended September 30, 2024
Trade sales 1
$1,331.5 $935.4 $1,060.3 $3,327.2 
Inter-segment sales19.0 3.2 7.6 29.8 
Total segment sales1,350.5 938.6 1,067.9 3,357.0 
Less:
Depreciation and amortization43.7 31.4 16.2 91.3 
Nonoperating assets depreciation and amortization 2
4.3 2.9 3.4 10.6 
Total depreciation and amortization48.0 34.3 19.6 101.9 
Other segment items:
Goodwill impairment (Note F)
587.2 43.6 44.5 675.3 
Restructuring, restructuring-related, and impairment charges (Note E and Note F)
27.2 5.1 2.0 34.3 
Gain on sale of real estate(26.6)— — (26.6)
Gain from net insurance proceeds— — (2.2)(2.2)
Other segment items 3
1,265.3 816.6 962.4 3,044.3 
Segment EBIT$(550.6)$39.0 $41.6 (470.0)
Intersegment eliminations and other 4
(3.6)
Interest expense net of interest income(60.6)
Earnings (loss) before income taxes$(534.2)
1 See Note B for revenue by product family.
2 Assets are not allocated to segments for internal reporting presentations. A portion of amortization and depreciation is included with various other costs in an overhead allocation to each segment.
3 Other segment items included in segment EBIT but not regularly provided to the CODM are comprised of cost of goods sold, selling and administrative expenses, and other expense (income), net.
4 For Intersegment eliminations and other, the nine months ended September 30, 2024, included $3.7 in CEO transition compensation costs.
Average assets for our segments are shown in the table below and reflect the basis for return measures used by management to evaluate segment performance. These segment totals include the average of both working capital (current assets and current liabilities utilized in operations) plus net property, plant and equipment.
Average Assets by SegmentSeptember 30, 2025December 31, 2024
Bedding Products$649.1 $741.8 
Specialized Products383.7 398.7 
Furniture, Flooring & Textile Products336.8 346.1 
Average current liabilities included in segment numbers above659.0 692.7 
Unallocated assets 1
1,621.0 1,634.0 
Difference between average assets and period-end balance sheet(124.6)(151.7)
Total assets$3,525.0 $3,661.6 
1 Unallocated assets consist primarily of goodwill, other intangibles, cash, and net operating leases.