Divestitures

12 Months Ended

Dec. 31, 2025

Discontinued Operations and Disposal Groups [Abstract]

On August 29, 2025, we divested our Aerospace Products Group (within our Specialized Products segment) for net cash proceeds of $280.3 and recognized a pretax gain of $90.9 after final adjustments for working capital were completed in December 2025. We collected the final working capital adjustment of $4.2 in January 2026.

The Aerospace Products Group did not meet the criteria for discontinued operations because it did not represent a strategic shift that would have a major effect on our financial results and had external sales and pretax earnings as shown below:


	Year Ended December 31,
	2025		2024		2023
External sales	$	132.2	$	190.2	$	154.1
Pretax earnings (excluding corporate overhead)	19.7		21.1		5.8

Depreciation and amortization were discontinued upon classification as held for sale (March 25, 2025, concurrent with the date our Board of Directors approved the sale). Accordingly, depreciation and amortization expense included in pre-tax earnings was $2.5, $10.2, and $9.1 for the years ended December 31, 2025, 2024, and 2023, respectively.

Also in 2025, we divested a small U.S. machinery business (in March) within our Bedding Products segment for proceeds of $1.2 and a small Mexican Work Furniture operation (in May) within our Furniture, Flooring & Textile Products segment for proceeds of $3.8. For both of these transactions, the net sales price approximated the carrying costs and both businesses had immaterial amounts of annual external sales and pretax earnings. The U.S. machinery business divestiture was also a part of the 2024 Plan.