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Restructuring and Related Activities
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities Restructuring and Related Activities
Restructuring and restructuring-related activity for 2023 was $2.9 and was not associated with any formal plan.
In 2024, we committed to a restructuring plan (the 2024 Restructuring Plan or 2024 Plan). The 2024 Plan was primarily associated with our Bedding Products segment and included, to a lesser extent, our Furniture, Flooring & Textile Products segment, our Specialized Products segment, and general and administrative cost structure initiatives.
Over the course of the restructuring timeline, we consolidated 17 production and distribution facilities in the Bedding Products segment and four production facilities in the Furniture, Flooring & Textile Products segment. We optimized manufacturing and operating efficiencies in the Hydraulic Cylinders Group, and reduced our corporate general and administrative expenses. All of these activities were substantially complete by the end of 2025.
The following table presents all 2024 Plan restructuring and restructuring-related activity, including impairments, for the periods presented:
 Total Approximate Amount Expected to be IncurredTotal Amount Incurred to Date Since January 1, 2024Total Incurred for the Year Ended
December 31,
 20252024
2024 Restructuring Plan activity:
Net cash restructuring and restructuring-related costs$40 $39.0 $8.7 $30.3 
Net non-cash restructuring and restructuring-related costs17 15.3 2.0 13.3 
Total net restructuring and restructuring-related costs57 54.3 10.7 43.6 
Goodwill and long-lived asset impairment costs 1
23 23.2 19.0 4.2 
Total net restructuring and restructuring-related activity, including impairments$80 $77.5 $29.7 $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 S.
The table below presents the restructuring and restructuring-related activity for the periods presented:
Consolidated Statements of Operations PresentationYear Ended
December 31,
 20252024
2024 Plan restructuring costs (gains): 
Termination benefits, relocation, and other restructuring costs Other (income) expense, net$6.0 $18.5 
2024 Plan restructuring-related costs (gains):
Inventory obsolescence and otherCost of goods sold2.0 13.2 
Professional services and otherSelling and administrative expenses1.1 13.5 
Net loss (gain) on disposal of assets and businessesNet gain on disposal of assets and businesses 1.6 (1.6)
Total 2024 Plan restructuring-related costs (gains)4.7 25.1 
Total 2024 Plan net restructuring and restructuring-related costs (gains)$10.7 $43.6 
Other restructuring costs (gains):1
Termination benefits, relocation, and other restructuring costsOther (income) expense, net$5.1 $.2 
Other restructuring-related (gains) costs:
Inventory obsolescence and other Cost of goods sold1.6 — 
Professional services and otherSelling and administrative expenses.9 2.7 
Net (gain) loss on disposal of assets and businessesNet gain on disposal of assets and businesses (.9)— 
Gain on sale of Aerospace Products GroupGain on sale of Aerospace Products Group(90.9)— 
Total other restructuring-related (gains) costs(89.3)2.7 
Total other net restructuring and restructuring-related (gains) costs$(84.2)$2.9 
1 This includes cash charges for divestiture-related expenses associated with the sale of our Aerospace Products Group, as discussed in Note S. Costs were $2.2 and $2.7 in the years ended December 31, 2025 and 2024, respectively.
Net restructuring and restructuring-related 2024 Plan costs by segment were as follows:
 Year Ended December 31,
 20252024
Bedding Products$5.6 $33.9 
Specialized Products3.5 7.4 
Furniture, Flooring & Textile Products1.6 2.3 
Total$10.7 $43.6 
We recognized gains from the sale of real estate associated with the 2024 Plan of $24.3 and $16.6 in the years ended December 31, 2025 and December 31, 2024, respectively. These gains are not reflected in the tables above.
Accrued liabilities associated with our total restructuring initiatives were $1.7 and $1.0 at December 31, 2025 and December 31, 2024, respectively.
2026 Restructuring Plan
On February 24, 2026, we committed to a smaller restructuring plan to consolidate two manufacturing facilities in our Specialty Foam business unit in our Bedding Products segment and one manufacturing facility within our Furniture, Flooring & Textile Products segment into other existing facilities (2026 Restructuring Plan). These actions are expected to improve our manufacturing efficiency and enhance profitability and are anticipated to be substantially complete by the end of 2026. We expect to incur restructuring and restructuring-related pretax costs of approximately $15. Approximately $10 of these costs are cash charges, most of which are from facility closure and asset relocation costs and, to a lesser extent, employee termination costs. We expect to incur approximately $5 of non-cash charges, a majority of which is related to accelerated depreciation of property, plant and equipment and, to a lesser extent, an operating lease right-of-use asset impairment.
We are continuing to evaluate opportunities to improve our cost structure and profitability across our businesses. The execution of any of these opportunities may result in additional restructuring costs, restructuring-related costs, or impairments.