Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2014	May 01, 2014
Document and Entity Information [Abstract]
Entity Registrant Name	TEMPUR SEALY INTERNATIONAL, INC.
Entity Central Index Key	0001206264
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		70,449,639
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q1
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2014

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Income Statement [Abstract]
Net sales	$ 701.9	$ 390.1
Cost of sales	432.4	201.7
Gross profit	269.5	188.4
Selling and marketing expenses	143.0	86.4
General, administrative and other expenses	70.3	58.7
Equity in earnings of unconsolidated affiliates	(1.7)	(0.2)
Royalty income, net of royalty expense	(4.5)	(1.0)
Operating income	62.4	44.5
Other expense, net:
Interest expense, net	22.2	27.9
Other expense, net	1.0	1.5
Total other expense	23.2	29.4
Income before income taxes	39.2	15.1
Income tax provision	(11.5)	(2.6)
Net income before non-controlling interest	27.7	12.5
Less: Net income attributable to non-controlling interest	0.3	0
Net income attributable to Tempur Sealy International, Inc.	$ 27.4	$ 12.5
(Loss) earnings per common share:
Basic (in dollars per share)	$ 0.45	$ 0.21
Diluted (in dollars per share)	$ 0.44	$ 0.20
Weighted average common shares outstanding:
Basic (in shares)	60.7	60.0
Diluted (in shares)	61.9	61.2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income before non-controlling interest	$ 27.7	$ 12.5
Other comprehensive income (loss) before tax, net of tax
Foreign currency translation adjustments	0.8	(11.1)
Net change in unrecognized gain on interest rate swap, net of tax	0.1	0.4
Net change in unrecognized gain on foreign exchange forward contracts, net of tax	0.9	0
Other comprehensive income (loss), net of tax	1.8	(10.7)
Comprehensive income	29.5	1.8
Less: comprehensive loss attributable to non-controlling interest	0.3	0
Comprehensive income attributable to Tempur Sealy International, Inc.	$ 29.2	$ 1.8

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Current Assets:
Cash and cash equivalents	$ 79.7	$ 81.0
Accounts receivable, net	368.4	349.2
Inventories, net	222.7	199.2
Prepaid expenses and other current assets	59.4	53.7
Deferred income taxes	43.0	44.4
Total Current Assets	773.2	727.5
Property, plant and equipment, net	402.4	411.6
Goodwill	764.4	759.6
Other intangible assets, net	743.7	750.1
Deferred income taxes	10.8	10.9
Other non-current assets	76.9	70.2
Total Assets	2,771.4	2,729.9
Current Liabilities:
Accounts payable	200.8	191.2
Accrued expenses and other current liabilities	195.4	208.4
Deferred income taxes	0.9	0.8
Income taxes payable	3.8	1.5
Current portion of long-term debt	45.6	39.6
Total Current Liabilities	446.5	441.5
Long-term debt	1,799.7	1,796.9
Deferred income taxes	279.9	286.1
Other non-current liabilities	82.0	75.3
Total Liabilities	2,608.1	2,599.8
Commitments and contingencies-see Note 12
Redeemable non-controlling interest	11.8	11.5
Total Stockholders' Equity	151.5	118.6
Total Liabilities and Stockholders' Equity	$ 2,771.4	$ 2,729.9

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income before non-controlling interest	$ 27.7	$ 12.5
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation and amortization	19.9	11.2
Amortization of stock-based compensation	4.1	3.5
Amortization of deferred financing costs	2.3	0.4
Write-off of deferred financing costs	0	4.7
Bad debt expense	1.8	0.5
Deferred income taxes	(1.9)	(41.5)
Equity in earnings of unconsolidated affiliates	(1.7)	(0.2)
Non cash interest expense on convertible notes	1.2	0
Loss on sale of assets	0.3	0
Foreign currency adjustments and other	0.1	(0.1)
Changes in operating assets and liabilities	(55.4)	14.2
Net cash (used in) provided by operating activities	(1.6)	5.2
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of businesses, net of cash acquired	0	(1,265.5)
Purchases of property, plant and equipment	(7.8)	(5.6)
Other	(0.8)	0.1
Net cash used in investing activities	(8.6)	(1,271.0)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	74.5	1,525.0
Repayments of 2012 Credit Agreement	(66.5)	(24.1)
Proceeds from issuance of Senior Notes	0	375.0
Proceeds from 2011 Credit Facility	0	46.5
Repayments of 2011 Credit Facility	0	(696.5)
Proceeds from issuance of common stock	1.7	4.2
Excess tax benefit from stock based compensation	0.9	2.5
Treasury stock repurchased	(2.2)	0
Payment of deferred financing costs	0	(51.5)
Other	0.1	(0.3)
Net cash provided by (used in) financing activities	8.5	1,180.8
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0.4	(2.8)
Decrease in cash and cash equivalents	(1.3)	(87.8)
CASH AND CASH EQUIVALENTS, beginning of period	81.0	179.3
CASH AND CASH EQUIVALENTS, end of period	79.7	91.5
Cash paid during the period for:
Interest	12.3	15.1
Income taxes, net of refunds	$ 10.2	$ 7.9

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2014

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

(a) Basis of Presentation and Description of Business. Tempur Sealy International, Inc., a Delaware corporation, together with its subsidiaries is a U.S. based, multinational company. The term “Tempur Sealy International” refers to Tempur Sealy International, Inc. only, and the term “Company” refers to Tempur Sealy International, Inc. and its consolidated subsidiaries.

The Company develops, manufactures, markets and sells bedding products, which include mattresses, foundations and adjustable bases, and other products, which include pillows and other accessories. The Company also derives income from royalties by licensing Sealy® brands, technology and trademarks to other manufacturers. Additionally, the Company participates in several joint ventures in the Asia-Pacific region as well as a joint venture in the U.S. with Comfort Revolution International, LLC ("Comfort Revolution"). The Company sells its products through three sales channels: Retail, Direct and Other.

On March 18, 2013, the Company completed the acquisition of Sealy Corporation and its historical subsidiaries (“Sealy”), which manufactures and markets a broad range of mattresses and foundations. The Company’s acquisition of Sealy ("Sealy Acquisition") is more fully described in Note 2, “Business Combination”. The 2014 and 2013 results of operations for Sealy are reported within the Company’s Sealy reportable segment and include results for the three months ended March 31, 2014 and the period from March 18, 2013 through March 31, 2013, respectively.

As a result of the Sealy Acquisition, the Company’s Condensed Consolidated Financial Statements include the results of Comfort Revolution, a 45.0% owned joint venture. Comfort Revolution constitutes a variable interest entity (“VIE”) for which the Company is considered to be the primary beneficiary due to the Company's disproportionate share of the economic risk associated with its equity contribution, debt financing and other factors that were considered in the related-party analysis surrounding the identification of the primary beneficiary. The operations of Comfort Revolution are not material to the Company's Condensed Consolidated Financial Statements.

The Company also has ownership interests in a group of Asia-Pacific joint ventures, as a result of the Sealy Acquisition, to develop markets for Sealy® branded products in those regions. The equity method of accounting is used for these joint ventures over which the Company has significant influence, but does not have effective control, and consolidation is not otherwise required. The Company’s Asia-Pacific joint ventures are more fully described in Note 5, “Unconsolidated Affiliate Companies”.

The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and include all of the information and disclosures required by generally accepted accounting principles in the United States (“U.S. GAAP” or “GAAP”) for interim financial reporting. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements of the Company and related footnotes for the year ended December 31, 2013, included in the Company’s Annual Report on Form 10-K filed on February 21, 2014.

The results of operations for the interim periods are not necessarily indicative of results of operations for a full year. It is the opinion of management that all necessary adjustments for a fair presentation of the results of operations for the interim periods have been made and are of a recurring nature unless otherwise disclosed herein.

(b) Inventories. Inventories are stated at the lower of cost or market, determined by the first-in, first-out method, and consist of the following:



(in millions)	March 31,		December 31,
	2014		2013
Finished goods	$	155.5	$	126.7
Work-in-process	11.2		10.0
Raw materials and supplies	56.0		62.5
	$	222.7	$	199.2

(c) Accrued Sales Returns. The Company allows product returns through certain sales channels and on certain products. Estimated sales returns are provided at the time of sale based on historical sales channel return rates. Estimated future obligations related to these products are provided by a reduction of sales in the period in which the revenue is recognized. Accrued sales returns are included in accrued expenses and other current liabilities in the accompanying Condensed Consolidated Balance Sheets.

The Company had the following activity for sales returns from December 31, 2013 to March 31, 2014:



(in millions)
Balance as of December 31, 2013	$	28.7
Amounts accrued	29.6
Returns charged to accrual	(29.1		)
Balance as of March 31, 2014	$	29.2

(d) Warranties. The Company provides warranties on certain products, which vary based by segment, product and brand. Estimates of warranty expenses are based primarily on historical claim experience and product testing. Estimated future obligations related to these products are charged to cost of sales in the period in which the related revenue is recognized.

The following summarizes the Company’s warranty terms:



Segment	Product/Brand	Warranty Term (in years)
Tempur North America	Mattresses	10 - 25, prorated ⁽¹⁾
Tempur North America	Pillows	3
Tempur International	Mattresses	15, prorated ⁽²⁾
Tempur International	Pillows	3
Sealy	Mattresses	10 - 25, prorated⁽¹⁾


(1)	Products have various warranty terms, generally non-prorated for the first 10 to 15 years and then prorated for the balance of the warranty term.


(2)	The last 10 years of warranty period are prorated on a straight-line basis.

The Company had the following activity for warranties from December 31, 2013 to March 31, 2014:



(in millions)
Balance as of December 31, 2013	$	26.1
Amounts accrued	16.5
Warranties charged to accrual	(14.6		)
Balance as of March 31, 2014	$	28.0

As of March 31, 2014 and December 31, 2013, $16.5 million and $14.9 million are included as a component of accrued expenses and other current liabilities and $11.5 million and $11.2 million are included in other non-current liabilities on the Company’s accompanying Condensed Consolidated Balance Sheets, respectively. In estimating its warranty obligations, the Company considers the impact of recoverable salvage value on warranty costs by segment in determining its estimate of future warranty obligations.

(e) Revenue Recognition. Sales of products are recognized when persuasive evidence of an arrangement exists, and title passes to customers and the risks and rewards of ownership are transferred, the sales price is fixed or determinable and collectability is reasonably assured. The Company extends volume discounts to certain customers, as well as promotional allowances, floor sample discounts, commissions paid to retail associates and slotting fees and reflects these amounts as a reduction of sales. The Company also reports sales net of tax assessed by qualifying governmental authorities. The Company extends credit based on the creditworthiness of its customers. No collateral is required on sales made in the normal course of business.

The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable. The Company regularly reviews the adequacy of its allowance for doubtful accounts. The Company determines the allowance based on historical write-off experience and current economic conditions and also considers factors such as customer credit, past transaction history with the customer and changes in customer payment terms when determining whether the collection of a receivable is reasonably assured. Account balances are charged off against the allowance after all reasonable means of collection have been exhausted and the potential for recovery is considered remote. The allowance for doubtful accounts included in accounts receivable, net in the accompanying Condensed Consolidated Balance Sheets was $20.5 million and $19.3 million as of March 31, 2014 and December 31, 2013, respectively.

(f) Research and Development Expenses. Research and development expenses for new products are expensed as they are incurred and included in general, administrative and other expenses in the accompanying Condensed Consolidated Statements of Income. Research and development costs charged to expense were $5.9 million and $4.8 million for the three months ended March 31, 2014 and 2013, respectively.

(g) Royalty Income and Expense. The Company recognizes royalty income based on sales of Sealy® and Stearns & Foster® branded products by various licensees. The Company also pays royalties to other entities for the use of their names on products produced by the Company. Royalty income, net of royalty expense was $4.5 million and $1.0 million for the three months ended March 31, 2014 and 2013, respectively.

(h) Environmental Cost. Environmental expenditures that relate to current operations are expensed or capitalized, as appropriate, under the Financial Accounting Standards Board ("FASB") authoritative guidance on environmental remediation liabilities. Expenditures that relate to an existing condition caused by past operations and that do not provide future benefits are expensed as incurred. Liabilities are recorded when environmental assessments are made or the requirement for remedial efforts is probable, and the costs can be reasonably estimated. The timing of accruing for these remediation liabilities is generally no later than the completion of feasibility studies. The Company has an ongoing monitoring and identification process to assess how the activities, with respect to the known exposures, are progressing against the accrued cost estimates, as well as to identify other potential remediation sites that are presently unknown.

(i) Pension Obligations. The Company has a noncontributory, defined benefit pension plan covering current and former hourly employees at four of its active Sealy plants and eight previously closed Sealy U.S. facilities. Sealy Canada, Ltd. (a 100.0% owned subsidiary of the Company) also sponsors a noncontributory, defined benefit pension plan covering hourly employees at one of its facilities. Both plans provide retirement and survivorship benefits based on the employees' credited years of service. The Company's funding policy provides for contributions of an amount between the minimum required and maximum amount that can be deducted for federal income tax purposes. The funded status is measured as the difference between the fair value of plan assets and the benefit obligation at December 31, the measurement date. The benefit obligation is the projected benefit obligation (“PBO”). The PBO represents the actuarial present value of benefits expected to be paid upon retirement based on estimated future compensation levels. The fair value of plan assets represents the current market value of assets held by an irrevocable trust fund for the sole benefit of participants. The measurement of the PBO is based on the Company’s estimates and actuarial valuations. These valuations reflect the terms of the plans and use participant-specific information such as compensation, age and years of service, as well as certain assumptions that require significant judgment, including estimates of discount rates, expected return on plan assets, rate of compensation increases, interest crediting rates and mortality rates.

- Definition

The entire disclosure for all significant accounting policies of the reporting entity.

+ References+ Details

Business Combination

3 Months Ended

Mar. 31, 2014

Business Combinations [Abstract]

Business Combination

On March 18, 2013, the Company completed the Sealy Acquisition. Pursuant to the merger agreement, each share of common stock of Sealy issued and outstanding immediately prior to the effective time of the Sealy Acquisition was canceled and (other than shares held by Sealy or Tempur-Pedic or their subsidiaries or Sealy stockholders who properly exercised their appraisal rights) converted into the right to receive $2.20 in cash. The total purchase price was $1,172.9 million, which was funded using available cash and financing consisting of the Company’s 2012 Credit Agreement and Senior Notes (see Note 4, “Debt” for the definition of these terms and further discussion).

Sealy owns one of the largest portfolios of bedding brands in the world, and manufactures and markets a complete line of bedding products under the Sealy®, Sealy Posturepedic®, Optimum^TMand Stearns & Foster® brands. The results of operations of Sealy and Sealy’s historical subsidiaries are reported within the Company’s Sealy reportable segment.

The Company incurred $11.8 million of direct transaction expenses for the three months ended March 31, 2013. These expenses are included in general, administrative and other expenses in the accompanying Condensed Consolidated Statements of Income. In addition, the Company incurred $19.9 million of incremental interest expense for the three months ended March 31, 2013, which includes interest and other fees on the Senior Notes and the 2012 Credit Agreement for the period prior to March 18, 2013, commitment fees associated with financing for the closing of the Sealy Acquisition, and the write off of deferred financing costs associated with the 2011 Credit Facility.

The Company accounted for the Sealy Acquisition using the acquisition method. The allocation of the purchase price is based on estimates of the fair value of assets acquired and liabilities assumed as of March 18, 2013. The components of the final purchase price allocation are as follows:



(in millions)
Accounts receivable	$	185.0
Inventory	75.1
Prepaid expenses and other current assets	23.4
Accounts payable	(77.9		)
Accrued expenses	(140.0		)
Property, plant and equipment	242.1
Other assets	32.6
Identifiable intangible assets:
Indefinite-lived trade names	521.2
Contractual retailer/distributer relationships	91.1
Developed technology, including patents	87.1
Customer databases	3.9
Optimum™ trade name	2.3
Deferred income taxes, net	(231.2		)
Sealy 8.0% Notes	(96.2		)
Redeemable non-controlling interest	(11.3		)
Other liabilities	(77.5		)
Goodwill	543.2
Net consideration transferred	$	1,172.9		⁽¹⁾

(1)

During the three months ended March 31, 2013, the Company deposited with a paying agent an amount in cash sufficient to make payment to all holders of the 8.0% Sealy Notes who converted their notes during a make-whole period, pursuant to the merger agreement. Of this amount deposited, approximately $92.6 million was transferred back to the Company on May 10, 2013 after the expiration of a deposit period specified in the related paying agency agreement. Due to the timing difference, the Condensed Consolidated Statement of Cash Flows for the three months ended March 31, 2013 reflects acquisition of businesses, net of cash acquired, of $1,265.5 million.

The excess of the purchase price over the estimated fair value of the tangible net assets and identifiable intangible assets acquired was recorded as goodwill. The factors contributing to the recognition of the amount of goodwill are based on several strategic and synergistic benefits that are expected to be realized from the Sealy Acquisition. These benefits include a comprehensive portfolio of iconic brands, complementary product offerings, enhanced global footprint, and attractive synergy opportunities and value creation. None of the goodwill is expected to be deductible for income tax purposes and is entirely allocated to the Sealy reportable segment.

The following unaudited pro forma information presents the combined financial results for the Company and Sealy as if the Sealy Acquisition had been completed at the beginning of the Company’s prior year, January 1, 2013. Prior to the Sealy Acquisition, Sealy used a 52-53 week fiscal year ending on the closest Sunday to November 30, but no later than December 2. The pro forma financial information set forth below for the three months ended March 31, 2013 includes Sealy’s pro forma information for the combined three month period from December 3, 2012 through March 3, 2013.



(in millions, except earnings per common share)	Three Months Ended		Three Months Ended
	March 31,		March 31,
	2014		2013
Net sales	$	701.9	$	683.0
Net income	$	27.4	$	15.6
Earnings from continuing operations per common share – Diluted	$	0.44	$	0.25

The information above does not include the pro forma adjustments that would be required under Regulation S-X for pro forma financial information. Therefore, the information is not necessarily indicative of results that would have been achieved had the businesses been combined during the periods presented or the results that the Company will experience going forward.

- Definition

The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 30

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e6996-128479

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 30

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e7000-128479

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4922-128472

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4926-128472

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4934-128472

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1383-128463

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1486-128463

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 30

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e6927-128479

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1497-128463

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1490-128463

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 30

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=7488404&loc=d3e7008-128479

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 20

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6910749&loc=d3e4845-128472

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1500-128463

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 805

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1524-128463

+ Details

Goodwill and Other intangible assets

3 Months Ended

Mar. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other intangible assets

The following summarizes changes to the Company’s goodwill, by reportable business segment:



(in millions)	Total		Tempur North America			Tempur International		Sealy
Balance as of December 31, 2013	$	759.6	$	107.7		$	107.3	$	544.6
Foreign currency translation adjustments and other	4.8		(0.7		)	0.2		5.3
Balance as of March 31, 2014	$	764.4	$	107.0		$	107.5	$	549.9

The following table summarizes information relating to the Company’s other intangible assets, net:



($ in millions)
		March 31, 2014						December 31, 2013
	Useful Lives (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Unamortized indefinite life intangible assets:
Trade name		$	572.5	$	—	$	572.5	$	575.3	$	—	$	575.3
Amortized intangible assets:
Contractual distributor relationships	15	$	89.1	$	6.1	$	83.0	$	90.0	$	4.7	$	85.3
Technology and other	10	92.6		27.3		65.3		93.2		25.5		67.7
Patents, other trademarks, & other trade names	5-20	27.5		12.8		14.7		27.4		12.2		15.2
Customer databases, relationships, and reacquired rights	3-5	23.0		14.8		8.2		21.0		14.4		6.6
Total		$	804.7	$	61.0	$	743.7	$	806.9	$	56.8	$	750.1

Amortization expense relating to intangible assets for the Company was $4.4 million and $1.6 million for the three months ended March 31, 2014 and 2013, respectively. No impairments of goodwill or other intangible assets have adjusted the gross carrying amount of these assets in any historical period.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References+ Details

Debt

3 Months Ended

Mar. 31, 2014

Debt Disclosure [Abstract]

Long-term Debt

Debt

Debt. Debt for the Company consists of the following:



(in millions)	March 31, 2014			December 31, 2013
Debt:
Revolving credit facility, interest at Base Rate plus applicable margin of 2.00% or LIBOR plus applicable margin of 3.00% as of March 31, 2014 and as of December 31, 2013, commitment through and due March 18, 2018	$	113.0		$	74.5
Term A Facility, interest at LIBOR plus applicable margin of 2.25% as of March 31, 2014 and as of December 31, 2013, commitment through and due March 18, 2018	506.7			522.5
Term B Facility, interest at LIBOR plus applicable margin of 2.75% as of March 31, 2014 and as of December 31, 2013, commitment through and due March 18, 2020	722.7			737.3
$375.0 million Senior Notes, interest at 6.875%, due December 15, 2020	375.0			375.0
8.0% Sealy Notes, due July 15, 2016	100.9			99.6
Capital lease obligations and other	27.0			27.6
	$	1,845.3		$	1,836.5
Less: current portion	(45.6		)	(39.6		)
Long-term debt	$	1,799.7		$	1,796.9

2012 Credit Agreement

On December 12, 2012, Tempur Sealy International and certain subsidiaries of Tempur Sealy International as borrowers and guarantors, entered into a credit agreement (the “2012 Credit Agreement”) with a syndicate of banks. The 2012 Credit Agreement initially provided for (i) a revolving credit facility of $350.0 million (the “Revolver”), (ii) a term A facility of $550.0 million (the “Term A Facility”) and (iii) a term B facility of $870.0 million (the “Term B Facility”).

Borrowings under the Revolver bear interest at either (i) LIBOR plus applicable margin, or (ii) Base Rate plus applicable margin. As of March 31, 2014, the Revolver total LIBOR plus applicable margin interest rate was 3.16%. As of March 31, 2014, the Revolver total Base Rate plus applicable margin interest rate was 5.25%. The Revolver will mature on March 18, 2018. During the three months ended March 31, 2014, borrowings were $74.5 million and repayments were $36.0 million. Total outstanding borrowings under the Revolver were $113.0 million with letters of credit outstanding of $20.9 million, and total availability under the Revolver was $216.1 million as of March 31, 2014.

The Term A Facility bears interest at LIBOR plus applicable margin. As of March 31, 2014, the Term A Facility total LIBOR plus applicable margin interest rate was 2.40%. The Term A Facility will mature on March 18, 2018, and is subject to scheduled quarterly payments in accordance with the 2012 Credit Agreement. The scheduled quarterly payments are $6.8 million through December 31, 2014, and $13.5 million from March 31, 2015 through December 31, 2017. Upon maturity, the principal payment due is $324.3 million. During the three months ended March 31, 2014, repayments were $15.8 million, which includes $9.1 million of prepayments made as a result of the excess cash flow covenant in the 2012 Credit Agreement.

The Term B Facility bears interest at LIBOR plus applicable margin. As of March 31, 2014, the Term B Facility total LIBOR plus applicable margin was 3.50%. The Term B Facility will mature on March 18, 2020, and is subject to scheduled quarterly payments in accordance with the 2012 Credit Agreement. The scheduled quarterly payments are $1.8 million through December 31, 2019. Upon maturity, the principal payment due is $680.6 million. During the three months ended March 31, 2014, repayments were $14.7 million, which includes $12.8 million of prepayments made as a result of the excess cash flow covenant in the 2012 Credit Agreement.

The 2012 Credit Agreement requires compliance with certain financial covenants providing for maintenance of a minimum consolidated interest coverage ratio and maintenance of a maximum consolidated total net leverage ratio. The consolidated total net leverage ratio is calculated using consolidated funded debt less qualified cash. Consolidated funded debt includes debt recorded on the Condensed Consolidated Balance Sheets as of the reporting date, plus letters of credit outstanding and certain other debt and obligations. The Company is allowed to exclude 100.0% of the domestic qualified cash and 60.0% of foreign qualified cash, the aggregate of which cannot exceed $150.0 million at the end of the reporting period. As of March 31, 2014, domestic qualified cash was $33.0 million and foreign qualified cash was $28.0 million

The Company is in compliance with all applicable covenants as of March 31, 2014.

Senior Notes

On December 19, 2012, Tempur Sealy International issued $375.0 million aggregate principal amount of 6.875% senior notes due 2020 (the “Senior Notes”) to qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. The Senior Notes were issued pursuant to an indenture, dated as of December 19, 2012 (the “Indenture”), among the Company, certain subsidiaries of Tempur Sealy International as guarantors (the “Guarantors”), and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”). The Senior Notes are general unsecured senior obligations of Tempur Sealy International and are guaranteed on a senior unsecured basis by the Guarantors. The Senior Notes mature on December 15, 2020, and interest is payable semi-annually in arrears on each June 15 and December 15, beginning on June 15, 2013. The gross proceeds from the Senior Notes, were funded into escrow and these funds were released from escrow on March 18, 2013 and used as part of the funding of the Sealy Acquisition. Following the completion of the Sealy Acquisition, Sealy and certain of its subsidiaries became Guarantors of the Senior Notes.

8.0% Sealy Notes

In conjunction with the Sealy Acquisition, Sealy’s obligations under its 8.0% Sealy Notes were amended. As a result of the Sealy Acquisition, the 8.0% Sealy Notes became convertible solely into cash, in an amount that declined slightly every day during the Make-Whole Period (as defined under the Supplemental Indenture governing the 8.0% Sealy Notes) that followed the Sealy Acquisition, and then became fixed thereafter. The Make-Whole Period effectively expired on April 12, 2013. As of April 12, 2013, approximately 83.0% of all the 8.0% Sealy Notes outstanding prior to the Sealy Acquisition were converted into cash and paid to the holders. Holders of the 8.0% Sealy Notes who converted on March 19, 2013 received approximately $2,325.43 per $1,000 Accreted Principal Amount of the 8.0% Sealy Notes being converted. The holders of the 8.0% Sealy Notes who convert after April 12, 2013 will receive $2,200 per $1,000 Accreted Principal Amount of the 8.0% Sealy Notes being converted. The Company calculated the preliminary fair value of the remaining 8.0% Sealy Notes as part of its purchase price allocation by first calculating the future payout of the remaining 17.0% aggregate principal amount of the 8.0% Sealy Notes still outstanding and the cumulative semi-annual interest payments at the July 15, 2016 maturity, and then calculated the present value using a market discount rate, which resulted in a fair value of $96.2 million at the date of the opening balance sheet. As of March 31, 2014, the fair value of the 8.0% Sealy Notes is $101.1 million, which includes $4.9 million of accreted discount. The discount is accreted through non-cash interest expense over the life of the 8.0% Sealy Notes using the effective interest method. As of March 31, 2014, the 8.0% Sealy Notes had a carrying value of $100.9 million, which includes $4.9 million of accreted discount less conversion payments made to holders of certain 8.0% Sealy Notes that were tendered for conversion.

The 8.0% Sealy Notes mature on July 15, 2016 and bear interest at 8.0% per annum accruing semi-annually in arrears on January 15 and July 15 of each year. Sealy does not pay interest in cash to the holders of the 8.0% Sealy Notes, but instead increases the principal amount of the 8.0% Sealy Notes by an amount equal to the accrued interest for the interest period then ended (“Paid-In-Kind” or “PIK interest”). The amount of the accrued interest for each interest period is calculated on the basis of the accreted principal amount as of the first day of such interest period. Any PIK interest accrued with respect to the 8.0% Sealy Notes converted between interest payment dates is forfeited in most circumstances.

All material negative covenants (apart from the lien covenant and related collateral requirements) were eliminated from the supplemental indenture governing the 8.0% Sealy Notes, as well as certain events of default and certain other provisions. In addition, Tempur Sealy International and its non-Sealy subsidiaries do not provide any guarantees of any obligations with respect to the 8.0% Sealy Notes.

Capital Leases

The Company is party to capital leases and has recorded the fair value of the obligation on its accompanying Condensed Consolidated Balance Sheets. The approximate remaining life of the leases is between 8 and 10 years.

Interest Rate Swap

On August 8, 2011, the Company entered into a four-year interest rate swap agreement to manage interest costs and the risk associated with changing interest rates associated with variable portions of the Company’s debt outstanding. Refer to Note 6, “Derivative Financial Instruments,” for additional information regarding the Company’s interest rate swap.

Unconsolidated Affiliate Companies	3 Months Ended
Unconsolidated Affiliate Companies	Mar. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]
Unconsolidated Affiliate Companies	Unconsolidated Affiliate Companies The Company has ownership interests in a group of Asia-Pacific joint ventures, as a result of the Sealy Acquisition, to develop markets for Sealy® branded products in those regions. The Company’s ownership interest in these joint ventures is 50.0% and is accounted for under the equity method. The Company's net investment of $9.6 million at March 31, 2014 and $7.8 million at December 31, 2013 are recorded in other non-current assets within the accompanying Condensed Consolidated Balance Sheets. The Company’s share of earnings is recorded in equity income in earnings of unconsolidated affiliates in the accompanying Condensed Consolidated Statements of Income.

- Definition

The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group.

+ References+ Details

Derivative Financial Instruments

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

In the normal course of business, the Company is exposed to certain risks related to fluctuations in interest rates and foreign exchange rate risk. The Company uses interest rate swaps to manage risks from interest rate market fluctuations. The financial instruments used by the Company are straight-forward, non-leveraged instruments. The counterparties to these financial instruments are financial institutions with strong credit ratings. The Company maintains control over the size of positions entered into with any one counterparty and regularly monitors the credit ratings of these institutions. The Company also utilizes foreign exchange spot and forward contracts to manage the risk associated with exposures to foreign currency risk. Certain foreign exchange forward contracts relate to intercompany debt and associated interest payments and certain accounts receivable and accounts payable. In addition, certain foreign exchange forward contracts relate to risks associated with intercompany inventory purchases. The fair value of foreign exchange forward contracts is calculated as described in Note 7, "Fair Value Measurements," taking into consideration foreign currency rates and the current creditworthiness of the counterparties or the Company, as applicable.

Interest Rate Swap

The Company is exposed to changes in interest rates on its variable rate debt. In order to manage this risk, on August 8, 2011, the Company entered into a four-year interest rate swap agreement to manage interest costs and the risk associated with changing interest rates. The Company designated this interest rate swap as a cash flow hedge of floating rate borrowings and expects the hedge to be highly effective in offsetting fluctuations in the designated interest payments resulting from changes in the benchmark interest rate. The gains and losses on the designated swap agreement will offset losses and gains on the transactions being hedged. The Company formally documented the effectiveness of this qualifying hedge instrument (both at the inception of the swap and on an ongoing basis) in offsetting changes in cash flows of the hedged transaction. The fair value of the interest rate swap is calculated as described in Note 7, “Fair Value Measurements,” taking into consideration current interest rates and the current creditworthiness of the counterparties or the Company, as applicable.

As a result of this swap, the Company pays interest at a fixed rate and receives payments at a variable rate which began on December 30, 2011. As of this date, the swap effectively fixed the floating LIBOR-based interest rate to 1.25% plus the applicable margin on $250.0 million of the outstanding balance under the Company’s variable rate debt. As of December 30, 2013 the outstanding notional principal amount of the swap reduced to $150.0 million. The interest rate swap expires on December 30, 2015. The Company has selected the LIBOR-based rate on the hedged portion of the Company’s variable rate debt during the term of the swap. The effective portion of the change in value of the swap is reflected as a component of comprehensive income and recognized as interest expense, net as payments are paid or accrued. The remaining gain or loss in excess of the cumulative change in the present value of the future cash flows of the hedged item, if any (i.e., the ineffective portion) or hedge components excluded from the assessment of effectiveness are recognized as interest expense, net during the current period.

Foreign Exchange Forward Contracts

Cash Flow Hedges

The Company is exposed to foreign currency risk related to intercompany inventory purchases denominated in foreign currencies. To manage the risk associated with fluctuations in foreign currencies related to these transactions, the Company enters into foreign exchange forward contracts. The Company designates certain foreign exchange forward contracts as hedging instruments, and the contracts qualify as cash flow hedges. The effectiveness of the cash flow hedge contracts, excluding time value, is assessed prospectively and retrospectively on a monthly basis using regression analysis, as well as using other timing and probability criteria. To receive hedge accounting treatment, all hedging relationships are formally documented at the inception of the hedges and must be highly effective in offsetting changes to future cash flows on hedged transactions. The effective portion of the cash flow hedge contracts' gains or losses resulting from changes in the fair value of these hedges is initially reported, net of tax, as a component of accumulated other comprehensive income until the underlying hedged item is reflected in the Company's accompanying Condensed Consolidated Statements of Income, at which time the effective amount in accumulated other comprehensive income is reclassified to cost of sales in accompanying Condensed Consolidated Statements of Income. The Company expects to reclassify a gain of approximately $0.8 million, net of tax, over the next 12 months based on the March 31, 2014 exchange rate.

In the event that the gains or losses in accumulated other comprehensive income are deemed to be ineffective, the ineffective portion of gains or losses resulting from changes in fair value, if any, is reclassified to other expense, net on the accompanying Condensed Consolidated Statements of Income. During the current reporting period, all forecasted transactions occurred and, therefore, there were no such gains or losses reclassified to other expense, net. As of March 31, 2014, the Company had foreign exchange forward contracts designated as cash flow hedges to buy Canadian dollars and to sell U.S. dollars with a notional amount outstanding of $86.2 million. These foreign exchange forward contracts have maturities ranging from April 2014 to March 2015.

Economic Hedges

The Company is also exposed to foreign currency risk related to intercompany debt and associated interest payments and certain accounts receivable and accounts payable. To manage the risk associated with fluctuations in foreign currencies related to these assets and liabilities, the Company enters into foreign exchange forward contracts. The Company considers these contracts to be economic hedges. Accordingly, changes in the fair value of these instruments affect earnings during the current period. These foreign exchange forward contracts protect against the reduction in value of forecasted foreign currency cash flows resulting from payments in foreign currencies. The fair value of foreign currency agreements are estimated as described in Note 7, “Fair Value Measurements,” taking into consideration foreign currency rates and the current creditworthiness of the counterparties or the Company, as applicable. Theses amounts are immaterial to the Condensed Consolidated Financial Statements.

As of March 31, 2014 and December 31, 2013, the fair value of the Company’s derivative instruments included in the accompanying Condensed Consolidated Balance Sheets were recorded as follows:



(in millions)
	Asset Derivatives
	Balance Sheet Location	Fair Value
		March 31, 2014		December 31, 2013
Derivatives designated as hedging instruments
Foreign exchange forward contracts	Prepaid expenses and other current assets	$	1.0	$	—
Derivatives not designated as hedging instruments
Foreign exchange forward contracts	Prepaid expenses and other current assets	0.6		—
		$	1.6	$	—



(in millions)
	Liability Derivatives
	Balance Sheet Location	Fair Value
		March 31, 2014		December 31, 2013
Derivatives designated as hedging instruments
Interest rate swap - current	Accrued expenses and other current liabilities	$	1.5	$	1.4
Interest rate swap - non-current	Other non-current liabilities	0.6		0.9
		$	2.1	$	2.3

The effect of derivative instruments on the accompanying Condensed Consolidated Statements of Income for the three months ended March 31, 2014 was as follows:



Derivatives Designated as Cash Flow Hedging Relationships	Amount of Gain/(Loss) Recognized in Accumulated OCI on Derivative (Effective Portion)		Location of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)			Location of Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Interest rate swap	$	0.2	Interest expense, net	$	(0.5	)	Interest expense, net	$	—
Foreign exchange forward contracts	$	1.7	Cost of goods sold	$	(0.6	)	Cost of goods sold	$	(0.3	)

The effect of derivative instruments on the accompanying Condensed Consolidated Statements of Income for the three months ended March 31, 2013 was as follows:



Derivatives Designated as Cash Flow Hedging Relationships	Amount of Gain/(Loss) Recognized in Accumulated OCI on Derivative (Effective Portion)		Location of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		Location of Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Interest rate swap	$	0.6	Interest expense, net	(0.8	)	Interest expense, net	$	—

- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4K

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5708775-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4B

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(n))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4J

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5708773-113959

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 25

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6886632&loc=d3e76258-113986

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41635-113959

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4H

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624258-113959

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4A

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 30

-Section 45

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 30

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=7668309&loc=d3e80748-113994

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4E

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624181-113959

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 30

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=7668309&loc=d3e80784-113994

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41620-113959

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4D

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624177-113959

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 1A

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579245-113959

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 1B

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5580258-113959

Reference 17: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5579240-113959

Reference 18: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41641-113959

Reference 19: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=7476318&loc=d3e41638-113959

Reference 20: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4C

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959

+ Details

Fair Value Measurements

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements

The classification of fair value measurements within the established three-level hierarchy is based upon the lowest level of input that is significant to the measurement. There were no transfers between levels for the three months ended March 31, 2014. At March 31, 2014, the Company had an interest rate swap and foreign exchange forward contracts recorded at fair value. The fair value of the interest rate swap is calculated using standard industry models based on observable forward yield curves. The fair value of the foreign exchange forward contracts is calculated using standard industry models based on observable forward points and discount curves. The fair values of all derivative instruments are adjusted for credit risk and restrictions and other terms specific to the contracts.

The Company estimates fair value of its financial instruments utilizing an established three-level hierarchy. The hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date as follows:


•	Level 1 - Valuation is based upon unadjusted quoted prices for identical assets or liabilities in active markets.


•	Level 2 - Valuation is based upon quoted prices for similar assets and liabilities in active markets, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instruments.


•	Level 3 - Valuation is based upon other unobservable inputs that are significant to the fair value measurements.

The following table provides a summary by level of the fair value of financial instruments that are measured on a recurring basis:



(in millions)			Fair Value Measurements at March 31, 2014 Using:
	March 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Foreign exchange forward contracts	$	1.6	$	—	$	1.6	$	—
Liabilities:
Interest rate swap	$	2.1	$	—	$	2.1	$	—



(in millions)			Fair Value Measurements at December 31, 2013 Using:
	December 31, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Liabilities:
Interest rate swap	$	2.3	$	—	$	2.3	$	—

The carrying value of cash and cash equivalents, accounts receivable and accounts payable approximate fair value because of the short-term maturity of those instruments. Borrowings under the 2012 Credit Agreement are at variable interest rates and accordingly their carrying amounts approximate fair value. The fair value of the Senior Notes was approximately $409.2 million at March 31, 2014. The fair value of the Sealy 8.0% Notes was approximately $101.1 million at March 31, 2014. The fair value of the Senior Notes and the 8.0% Sealy Notes were based on Level 2 inputs such as quoted market prices or estimated using discounted cash flows and market-based expectations for interest rates, credit risk, and the contractual terms of the debt instruments.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References+ Details

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Mar. 31, 2014
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders’ Equity Tempur Sealy International has 300.0 million authorized shares of common stock with $0.01 per share par value and 0.01 million shares of preferred stock. Subject to preferences that may be applicable to any outstanding preferred stock, holders of the common stock are entitled to receive ratably such dividends as may be declared from time to time by the Board of Directors out of funds legally available for that purpose. In the event of liquidation, dissolution or winding up, the holders of the common stock are entitled to share ratably in all assets remaining after payment of liabilities, subject to prior distribution rights of preferred stock, if any, then outstanding.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.29-31)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 29, 30, 31

-Article 5

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 310

-SubTopic 10

-Section S99

-Paragraph 2

-Subparagraph (SAB TOPIC 4.E)

-URI http://asc.fasb.org/extlink&oid=27010918&loc=d3e74512-122707

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 4

-Subparagraph (SAB TOPIC 4.C)

-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187143-122770

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Article 4

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section C

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Staff Accounting Bulletin (SAB)

-Number Topic 4

-Section E

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(d),(e))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Glossary Preferred Stock

-URI http://asc.fasb.org/extlink&oid=6521494

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 04

-Article 3

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21463-112644

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.3-04)

-URI http://asc.fasb.org/extlink&oid=27012166&loc=d3e187085-122770

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 15: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 11

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21564-112644

Reference 16: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 5

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21488-112644

Reference 17: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 4

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21484-112644

Reference 18: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 08

-Paragraph d

-Article 4

Reference 19: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 30

-Section 50

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6405834&loc=d3e23285-112656

+ Details

Defined Benefit Plans	3 Months Ended
Defined Benefit Plans	Mar. 31, 2014
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Defined Benefit Plans	Defined Benefit Plans As of March 31, 2014, the Company’s liability related to its sponsored defined benefit plans was $6.8 million. The net periodic pension cost for the three months ended March 31, 2014 and 2013 were not material.

- Definition

Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans.

+ References+ Details

Other Items

3 Months Ended

Mar. 31, 2014

Other Items [Abstract]

Other Items

Accumulated other comprehensive income.

Accumulated other comprehensive income consisted of the following:



(in millions)	Three Months Ended
	March 31,
	2014			2013
Foreign Currency Translation
Balance at beginning of period	$	(15.6	)	$	(4.9	)
Other comprehensive income (loss):
Foreign currency translation adjustments ⁽¹⁾	0.8			(11.1		)
Balance at end of period	$	(14.8	)	$	(16.0	)

Interest Rate Swap
Balance at beginning of period	$	(1.4	)	$	(2.7	)
Other comprehensive income:
Net change from period revaluations:	0.7			1.4
Tax (expense)⁽²⁾	(0.3		)	(0.5		)
Total other comprehensive income before reclassifications, net of tax	$	0.4		$	0.9
Net amount reclassified to earnings ⁽³⁾	(0.5		)	(0.8		)
Tax benefit ⁽²⁾	0.2			0.3
Total amount reclassified from accumulated other comprehensive loss, net of tax	$	(0.3	)	$	(0.5	)
Total other comprehensive income	0.1			0.4
Balance at end of period	$	(1.3	)	$	(2.3	)

Pension Benefits
Balance at beginning of period	$	3.2		$	—
Other comprehensive income:
Net change from period revaluations	—			—
Tax (expense)	—			—
Total other comprehensive income	$	—		$	—
Balance at end of period	$	3.2		$	—

Foreign Exchange Forward Contracts
Balance at beginning of period	$	—		$	—
Other comprehensive income:
Net change from period revaluations:	1.7			—
Tax (expense)⁽²⁾	(0.4		)	—
Total other comprehensive income before reclassifications, net of tax	$	1.3		$	—
Net amount reclassified to earnings	(0.6		)
Tax benefit⁽²⁾	0.2			—
Total amount reclassified from accumulated other comprehensive income, net of tax	(0.4		)	$	—
Total other comprehensive income	0.9			—
Balance at end of period	$	0.9		$	—


⁽¹⁾	In 2014 and 2013, there were no tax impacts related to rate changes and no amounts were reclassified to earnings.


⁽²⁾	These amounts were included in the income tax provision on the accompanying Condensed Consolidated Statements of Income.


⁽³⁾	This amount was included in interest expense, net on the accompanying Condensed Consolidated Statements of Income.

Stock-Based Compensation

3 Months Ended

Mar. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

The Company’s stock-based compensation expense for the three months ended March 31, 2014 included performance-based restricted stock units (“PRSUs”), non-qualified stock options, restricted stock units ("RSUs") and deferred stock units ("DSUs"). A summary of the Company’s stock-based compensation expense is presented below:



(in millions)	Three Months Ended March 31,
	2014		2013
PRSU expense	$	1.1	$	0.8
Option expense	1.7		2.1
RSU/DSU expense	1.3		0.6
Total stock based compensation expense	$	4.1	$	3.5

A summary of the Company’s PRSU activity and related information for the three months ended March 31, 2014 is presented below:



(shares in millions)
	Number of Shares	Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Awards outstanding at December 31, 2013	0.3	$	39.04
Granted	0.3	51.87
Vested	0.0	37.05
Forfeited	—	—
Awards outstanding at March 31, 2014	0.6	$	46.31	$	25.2

The maximum number of shares to be awarded under the PRSUs granted during the three months ended March 31, 2014 will be 0.7 million. Approximately 0.3 million shares will vest, if earned at the end of the two-year performance period ending on December 31, 2015. Approximately 0.4 million shares will vest if earned at the end of the three-year performance period ending on December 31, 2016.

During the three months ended March 31, 2014, PRSUs with an aggregate intrinsic value of $1.4 million were issued from treasury stock following the satisfaction of certain financial metrics over the one year performance period. The PRSUs were issued from treasury stock at 100.0% of the target award, the maximum payout. During the three months ended March 31, 2013, PRSUs with an aggregate intrinsic value of $14.9 million were issued from treasury stock following the satisfaction of certain financial metrics over the performance period. The PRSUs were issued from treasury stock at 282.0% of the target award, out of a maximum payout of 300.0%.

A summary of the Company’s stock option activity and related information for the three months ended March 31, 2014 is presented below:



(shares in millions)
	Number of Shares		Weighted- Average Grant Date Fair Value		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Options outstanding December 31, 2013	2.8		$	21.73
Granted	0.2		51.86
Forfeited	0.0		49.63
Exercised	(0.1	)	18.85
Options outstanding at March 31, 2014	2.9		$	23.95	5.91	$	71.2
Options exercisable at March 31, 2014	2.4		$	19.10	5.17	$	76.3

The aggregate intrinsic value of options exercised during the three months ended March 31, 2014 and 2013 was $2.7 million and $7.5 million, respectively.

A summary of the Company’s RSU and DSU activity and related information for the three months ended March 31, 2014 is presented below:



(shares in millions)
	Number of Shares		Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Awards outstanding at December 31, 2013	0.2		$	47.00
Granted	—		—
Vested	(0.1	)	49.47
Forfeited	—		—
Awards outstanding at March 31, 2014	0.1		$	36.45	$	5.2

No RSUs or DSUs were granted during the three months ended March 31, 2014.

The aggregate intrinsic value of RSUs issued from treasury stock during the three months ended March 31, 2014 and 2013 was $3.6 million and $5.9 million, respectively.

A summary of total unrecognized stock-based compensation expense based on current performance estimates related to the PRSUs and options granted during the three months ended March 31, 2014 is presented below:



($ in millions)
	March 31, 2014		Weighted Average Remaining Vesting Period (Years)
Unrecognized PRSU expense	$	14.1	1.73
Unrecognized stock option expense	4.3		0.68
Total unrecognized stock-based compensation expense	$	18.4	2.41

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References+ Details

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies (a) Purchase Commitments. The Company will, from time to time, enter into limited purchase commitments for the purchase of certain raw materials. Amounts committed under these programs are not significant as of March 31, 2014 and December 31, 2013. (b) Norfolk County Retirement System, Individually and on behalf of all others similarly situated, Plaintiff v. Tempur-Pedic International Inc., Mark A. Sarvary and Dale E. Williams; filed June 20, 2012 Arthur Benning, Jr., Individually and on behalf of all others similarly situated, Plaintiff v. Tempur-Pedic International Inc., Mark A. Sarvary and Dale E. Williams; filed June 25, 2012 On June 20 and 25, 2012, the above suits were filed against the Company and two named executive officers in the United States District Court for the Eastern District of Kentucky, purportedly on behalf of a proposed class of shareholders who purchased the Company’s stock between January 25, 2012 and June 5, 2012. The complaints assert claims under Sections 10(b) and 20(a) of the Exchange Act, alleging, among other things, false and misleading statements and concealment of material information concerning the Company’s competitive position, projected net sales, earnings per diluted share and related financial performance for the Company’s 2012 fiscal year. The plaintiffs seek damages, interest, costs, attorney’s fees, expert fees and unspecified equitable/injunctive relief. On November 2, 2012, the Court consolidated the two lawsuits and on March 6, 2013, plaintiffs filed a consolidated complaint. On March 31, 2014, the Court issued an Order granting the Company’s motion to dismiss the consolidated complaint. Per the Order, the Company is awaiting the Judge’s memorandum of opinion. Should the plaintiffs appeal, the Company would vigorously defend against the claims. The outcome of these matters is uncertain, however, and although the Company does not currently expect to incur a loss with respect to these matters, the Company cannot currently predict the manner and timing of the resolution of the suits, an estimate of a range of losses or any minimum loss that could result in the event of an adverse verdict in these suits, or whether the Company’s applicable insurance policies will provide sufficient coverage for these claims. Accordingly, the Company can give no assurance that these matters will not have a material adverse effect on the Company’s financial position or results of operations. (c) Sealy Mattress Company of NJ, Inc., David Hertz, individually, as trustee of, respectively, the Allison Lindsay Hertz Trust, the Samuel Douglas Hertz Trust, the Sydney Lauren Hertz Trust, the U/A DTD 08/21/97 Andrew Michael Marcus Trust, the U/A DTD 08/21/97 Julia Robyn Marcus Trust, and the U/A DTD 08/21/97 James Daniel Marcus Trust, and as executor of the Estate of Walter Hertz, Lisa Marcus, Rose Naiman, Michael Shoobs, and Diane Shoobs, individually and as custodian of the Robert S. Shoobs UTMA NJ v. Sealy Corporation, filed June 27, 2013. With respect to the Sealy Acquisition, holders of approximately 3.1 million shares of Sealy common stock sent notices to Sealy purporting to exercise their appraisal rights in accordance with the Merger Agreement executed on September 26, 2012. In order to preserve these appraisal rights, any such former stockholder was required to commence an appraisal proceeding in the Delaware courts within 120 days after March 18, 2013. Sealy has expressly reserved its rights to contest that any or all of such notices were not delivered timely or otherwise not in the form required under Delaware law. On June 27, 2013, an appraisal proceeding was commenced in the Delaware Court of Chancery (the “Appraisal Action”). If the fair value of the Sealy common stock formerly held by the former Sealy stockholders seeking the appraisal is determined to be greater than the $2.20 per share paid pursuant to the Merger Agreement, Sealy would be required to pay such difference, plus interest at the statutory rate, which could impact the Company’s financial condition and liquidity. (d) Michael Dodson, Alvin Todd, and Henry and Mary Thompson, individually and on behalf of all others similarly situated, Plaintiffs v. Tempur Sealy International, Inc., formerly known as Tempur-Pedic International, Inc. and Tempur-Pedic North America, LLC, Defendants; filed October 25, 2013 On October 25, 2013, a suit was filed against Tempur Sealy International and one of its domestic subsidiaries in the United States District Court for the Northern District of California, purportedly on behalf of a proposed class of “consumers” as defined by Cal. Civ. Code § 1761(d) who purchased, not for resale, a Tempur-Pedic mattress or pillow in the State of California. On November 19, 2013, the Company was served for the first time in the case but with an amended petition adding additional class representatives for additional states. The purported classes seek certification of claims under applicable state laws. The complaint alleges that the Company engaged in unfair business practices, false advertising, and misrepresentations or omissions related to the sale of certain products. The plaintiffs seek restitution, injunctive relief and all other relief allowed under applicable state laws, interest, attorneys’ fees and costs. The purported classes do not seek damages for physical injuries. The Company believes the case lacks merit and intends to defend against the claims vigorously. This matter is at a very preliminary stage, and the outcome is uncertain. As a result, the Company is unable to reasonably estimate the possible loss or range of losses, if any, arising from this litigation, or whether the Company’s applicable insurance policies will provide sufficient coverage for these claims. Accordingly, the Company can give no assurance that this matter will not have a material adverse effect on the Company’s financial position or results of operations. (e) Environmental. The Company is currently conducting an environmental cleanup at a formerly owned facility in South Brunswick, New Jersey pursuant to the New Jersey Industrial Site Recovery Act. Sealy and one of its subsidiaries are parties to an Administrative Consent Order issued by the New Jersey Department of Environmental Protection. Pursuant to that order, Sealy and its subsidiary agreed to conduct soil and groundwater remediation at the property. The Company does not believe that its manufacturing processes were the source of contamination. The Company sold the property in 1997. The Company retained primary responsibility for the required remediation. Previously, the Company removed and disposed of contaminated soil from the site with the New Jersey Department of Environmental Protection approval, and the Company has installed a groundwater remediation system on the site. During 2005, with the approval of the New Jersey Department of Environmental Protection, the Company removed and disposed of sediment in Oakeys Brook adjoining the site. The Company continues to monitor ground water at the site. During 2012, with the approval of the New Jersey Department of Environmental Protection, the Company commenced the removal and disposal of additional contaminated soil from the site. The Company has recorded a reserve as a component of other accrued expenses and other noncurrent liabilities in the accompanying Consolidated Balance Sheets as of December 31, 2013 for $2.6 million associated with this remediation project. The Company has also undertaken a remediation of soil and groundwater contamination at an inactive facility located in Oakville, Connecticut. Although the Company is conducting the remediation voluntarily, it obtained Connecticut Department of Energy and Environmental Protection (“DEEP”) approval of the remediation plan. The Company believes that it has essentially completed its remediation of the site. In 2012, the Company submitted separate closure reports to the Connecticut DEEP for the lower portion of the site and the upper portion of the site. The Connecticut DEEP approved the Company’s closure report for the upper portion of the site and also gave conditional approval to the Company’s closure report for the lower portion of the site. The conditional approval for the lower portion closure required the Company to perform additional water monitoring on the lower portion of the site to demonstrate compliance with applicable standards. The Company performed that monitoring and submitted a closure report for the lower parcel to the Connecticut DEEP. After review of the closure report, the DEEP requested an additional well and continued monitoring. The Company has recorded a liability of approximately $0.1 million associated with the completion of the closure of its remediation efforts at the site. The Company believes the contamination is attributable to the manufacturing operations of previous, unrelated, unaffiliated occupants of the facility. The Company cannot predict the ultimate timing or costs of the South Brunswick and Oakville environmental matters. Based on facts currently known, the Company believes that the accruals recorded are adequate and does not believe the resolution of these matters will have a material effect on the financial position or future operations of the Company. However, in the event of an adverse decision by the agencies involved, or an unfavorable result in the New Jersey natural resources damages matter, these matters could have a material effect on the Company’s financial position or results of operations. In 1998, the Company sold an inactive facility located in Putnam, Connecticut. In 2012, the Company received a letter from the attorney for the current owner of that property claiming that the Company may have some responsibility for an environmental condition on the property. The Company continues to investigate this matter, but intends to vigorously defend the claim of the current owner against the Company. (f) Income tax assessments. The Company has received income tax assessments from the Danish Tax Authority (“SKAT”). The Company believes it has meritorious defenses to the proposed adjustments and will oppose the assessments, as necessary, in the appropriate Danish venue. The Company believes the litigation process to reach a final resolution of this matter could potentially extend over the next five years. If the Company is not successful in defending its position that the Company owes no additional taxes, the Company could be required to pay a significant amount to SKAT, which could impair or reduce the Company's liquidity and profitability. For a description of these assessments and additional information with respect to these assessments and the various related legal proceedings, see Note 13, “Income Taxes”. (g) Other. The Company is involved in various other legal proceedings incidental to the operations of its business. The Company believes that the outcome of all such pending legal proceedings in the aggregate will not have a material adverse effect on its business, financial condition, liquidity, or operating results.

- Definition

The entire disclosure for commitments and contingencies.

+ References+ Details

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2014
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate for the three months ended March 31, 2014 and 2013 was 29.3% and 17.2%, respectively. The Company’s income tax rate for the three months ended March 31, 2014 and 2013 differed from the U.S. federal statutory rate of 35.0% principally due to changes in the Company’s uncertain tax positions during the quarter, certain foreign tax rate differentials, state and local income taxes, the production activities deduction, and certain other permanent differences. At March 31, 2014, the tax basis of the Company’s investment in its foreign subsidiaries exceeds the Company’s book basis. Accordingly, no deferred taxes have been recorded related to this basis difference as it is not apparent that the difference will reverse in the foreseeable future. The Company has received income tax assessments from the Danish Tax Authority (“SKAT”) with respect to the tax years 2001 through 2008 relating to the royalty paid by one of Tempur Sealy International’s U.S. subsidiaries to a Danish subsidiary. The royalty is paid by the U.S. subsidiaries for the right to utilize certain intangible assets owned by the Danish subsidiary in the U.S. production processes. In its assessment, SKAT asserts that the amount of royalty rate paid by the U.S. subsidiaries to the Danish subsidiary is not reflective of an arms-length transaction. Accordingly, the tax assessment received from SKAT is based, in part, on a 20% royalty rate, which is substantially higher than that historically used or deemed appropriate by the Company. The 2008 income tax assessment was received in March 2014. The cumulative total tax assessment for all years is approximately $233.3 million including interest and penalties. The Company filed timely protests with the Danish National Tax Tribunal (the “Tribunal”) challenging the tax assessments. The Tribunal formally agreed to place the Danish tax litigation on hold pending the outcome of a Bilateral Advance Pricing Agreement (“Bilateral APA”) between the United States and SKAT. A Bilateral APA involves an agreement between the Internal Revenue Service (“IRS”) and the taxpayer, as well as a negotiated agreement with one or more foreign competent authorities under applicable income tax treaties. During the third quarter of 2008, the Company filed the Bilateral APA with the IRS and SKAT. U.S. and Danish competent authorities have met to discuss the Company’s Bilateral APA. SKAT and the IRS met several times since 2011, most recently in February 2013, to discuss the matter. At the conclusion of the February 2013 meeting the IRS and SKAT concluded that a mutually acceptable agreement on the matter could not be reached and, as a result, the Bilateral APA process was terminated. The matter is now before the Tribunal. The Tribunal is a branch of SKAT that is independent of the discussions and negotiations that have taken place to date. If the Tribunal does not rule to the satisfaction of one or both parties, the party seeking redress may choose to litigate the issue in the Danish court system. In 2013 the Company was notified by SKAT that SKAT granted the deferral of the requirement to post a cash deposit or other form of security for taxes that have been assessed for the period 2001 through 2007 to 2017. The Company has filed a submission to SKAT requesting the deferral of additional security related to the 2008 assessment. Due to the timing of the receipt of the assessment the request is currently under consideration by SKAT. The Company believes that the request will be granted. The Company believes it has meritorious defenses to the proposed adjustments and will oppose the assessments before the Tribunal and in the Danish courts, as necessary. The impact of terminating the Bilateral APA program has been considered by the Company in its March 31, 2014 estimate of uncertain tax benefits. The Company maintains an uncertain tax liability associated with this matter, the amount of which is based on a royalty methodology and royalty rates that the Company considers to be reflective of market transactions. It is reasonably possible the amount of unrecognized tax benefits may change in the next twelve months. An estimate of the amount of such change cannot be made at this time. If the Company is not successful in defending its position before the Tribunal or in the Danish courts, the Company could be required to pay significant amounts to SKAT, which could impair or reduce its liquidity and profitability. In conjunction with this tax examination discussed below, during the year ended December 31, 2013 the Company received correspondence from SKAT requesting information regarding the royalty for the years 2008 through 2011. The correspondence indicated that SKAT would be evaluating the royalty paid for each of the years under examination. The Company has responded to SKAT’s request for information. During the three months ended December 31, 2013 the Company and SKAT agreed that the examination of this issue for the years 2008 - 2011 would be placed on hold pending the outcome of the Tribunal process. The aggregate amount of uncertain tax benefits for all matters as of March 31, 2014 and December 31, 2013 was $26.0 million and $26.1 million, respectively. The decrease in unrecognized tax benefits is due principally to an identifiable item recognized in a prior period. The entire amount of unrecognized tax benefits would impact the effect rate if recognized. The Company had approximately $11.3 million and $11.0 of accrued interest and penalties at March 31, 2014 and December 31, 2013, respectively. The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, and various states and foreign jurisdictions. The 2012 U.S. IRS examination began in March 2014. The IRS is in the information gathering phase of this examination. With few exceptions, the Company is no longer subject to tax examinations by the IRS in the U.S. for periods prior to 2012, U.S. state and local municipalities for periods prior to 2006, and in non-U.S. jurisdictions for periods prior to 2001. As it relates to Sealy for years prior to the Sealy Acquisition, Sealy or one of its subsidiaries was required to file income tax returns in the U.S. federal jurisdiction, and various states and foreign jurisdictions. Sealy’s U.S. federal income tax returns and with few exceptions its foreign income tax returns are no longer subject to examination for years prior to 2004. Generally, Sealy’s state and local jurisdiction income tax returns are no longer subject to examination for years prior to 2000. Additionally, the Company is currently under examination by various tax authorities around the world. The Company anticipates it is reasonably possible an increase or decrease in the amount of unrecognized tax benefits could be made in the next twelve months as a result of the statute of limitations expiring and/or the examinations being concluded on these returns. However, the Company does not presently anticipate that any increase or decrease in unrecognized tax benefits will be material to the consolidated financial statements. Other than the changes discussed in the preceding paragraphs, there were no significant changes to the liability for unrecognized tax benefits during the three months ended March 31, 2014.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References+ Details

Major Customers	3 Months Ended
Major Customers	Mar. 31, 2014
Risks and Uncertainties [Abstract]
Major Customers	Major Customers The top five customers accounted for approximately 31.3% and 25.3% of the Company’s net sales for the three months ended March 31, 2014 and 2013, respectively. Net sales from one customer (Mattress Firm Holding Corp.) represented more than 10.0% of net sales for the three months ended March 31, 2014. The top five customers also accounted for approximately 30.4% and 22.3% of accounts receivable as of March 31, 2014 and 2013, respectively.

- Definition

The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.

+ References+ Details

Earnings Per Common Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Common Share



(in millions, except per common share amounts)
	Three Months Ended
	March 31,
	2014		2013
Numerator:
Net income attributable to Tempur Sealy International, Inc.	$	27.4	$	12.5

Denominator:
Denominator for basic earnings per common share-weighted average shares	60.7		60.0
Effect of dilutive securities:
Employee stock-based compensation	1.2		1.2
Denominator for diluted earnings per common share-adjusted weighted average shares	61.9		61.2

Basic earnings per common share	$	0.45	$	0.21

Diluted earnings per common share	$	0.44	$	0.20

The Company excluded 0.3 million and 0.4 million for the three months ended March 31, 2014 and 2013 respectively, from the diluted earnings per common share computation because their exercise price was greater than the average market price of Tempur Sealy International’s common stock or they were otherwise anti-dilutive. Holders of non-vested stock-based compensation awards do not maintain voting rights or maintain rights to receive any dividends thereon.

- Definition

The entire disclosure for earnings per share.

+ References+ Details

Business Segment Information

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Business Segment Information

The Company operates in three business segments: Tempur North America, Tempur International and Sealy. The Tempur North America segment consists of two U.S. manufacturing facilities and the Tempur North America distribution subsidiaries. The Tempur International segment consists of a manufacturing facility in Denmark, whose customers include all of the distribution subsidiaries and third party distributors outside of the Tempur North America and Sealy segments. The Sealy segment consists of company-owned and operated bedding and component manufacturing facilities located around the world, along with distribution subsidiaries, joint ventures, and licensees. The Company evaluates segment performance based on net sales and operating income. Certain corporate operating expenses included in the Tempur North America segment for the three months ended March 31, 2014 and 2013 were $17.7 million and $29.3 million, respectively. There were no material allocations of corporate operating expenses to the Tempur International or Sealy segments for the three months ended March 31, 2014 and 2013. The Company’s Tempur North America, Tempur International and Sealy segment assets include investments in subsidiaries which are appropriately eliminated in the Company’s accompanying Condensed Consolidated Financial Statements. The remaining inter-segment eliminations are comprised of intercompany accounts receivable. The effect of the elimination of the investments in subsidiaries is included in the inter-segment eliminations as shown below.

The following table summarizes total assets by segment:



(in millions)	March 31,			December 31,
Total assets:	2014			2013
Tempur North America	$	2,502.1		$	2,110.7
Tempur International	509.2			477.7
Sealy	1,949.8			1,956.6
Inter-segment eliminations	(2,189.7		)	(1,815.1		)
	$	2,771.4		$	2,729.9

The following table summarizes long-lived assets by segment:



(in millions)	March 31,		December 31,
Long-lived assets:	2014		2013
Tempur North America	$	391.1	$	393.1
Tempur International	67.4		68.7
Sealy	1,452.0		1,459.5
	$	1,910.5	$	1,921.3

The following table summarizes long-lived assets by geographic region:



(in millions)	March 31,		December 31,
	2014		2013
United States	$	1,637.7	$	1,647.0
Canada	49.5		52.1
Other International	223.3		222.2
	$	1,910.5	$	1,921.3
Total International	272.8		274.3

The following table summarizes net sales by geographic region:



(in millions)	Three Months Ended
	March 31,
	2014		2013
United States	$	504.0	$	253.3
Canada	48.7		15.0
Other International	149.2		121.8
	$	701.9	$	390.1
Total International	$	197.9	$	136.8

The following table summarizes segment information:



(in millions)	Three Months Ended
	March 31,
	2014			2013
Net sales to external customers:
Tempur North America
Bedding	$	199.5		$	204.6
Other products	13.5			21.3
	$	213.0		$	225.9

Tempur International
Bedding	$	95.2		$	89.3
Other products	30.5			28.2
	$	125.7		$	117.5

Sealy ⁽¹⁾
Bedding	$	341.3		$	44.7
Other products	21.9			2.0
	$	363.2		$	46.7
	$	701.9		$	390.1

Inter-segment sales:
Tempur North America	$	0.1		$	0.1
Tempur International	0.1			0.1
Sealy	4.3			—
Intercompany eliminations	(4.5		)	(0.2		)
	$	—		$	—

Gross profit:
Tempur North America	$	85.8		$	103.5
Tempur International	75.1			74.2
Sealy	108.6			10.7
	$	269.5		$	188.4

(1) The Company's results for the first quarter of 2013 include Sealy's results of operations from March 18, 2013 through March 31, 2013




Operating income:
Tempur North America	$	11.1		$	15.9
Tempur International	28.0			31.3
Sealy	23.3			(2.7		)
	$	62.4		$	44.5

(Loss) income before income taxes:
Tempur North America	$	(8.2	)	$	(11.7	)
Tempur International	27.4			30.3
Sealy	20.0			(3.5		)
	$	39.2		$	15.1

Depreciation and amortization (including stock-based compensation amortization):
Tempur North America	$	8.4		$	9.8
Tempur International	3.2			3.1
Sealy	12.4			1.8
	$	24.0		$	14.7

Intercompany royalties:
Tempur North America	$	1.5		$	1.3
Tempur International	(1.5		)	(1.3		)
Sealy	—			—
	$	—		$	—

Capital expenditures:
Tempur North America	$	2.0		$	3.9
Tempur International	1.7			1.7
Sealy	4.1			—
	$	7.8		$	5.6

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8380-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 32

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8933-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 10

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8538-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 26

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8844-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 29

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8864-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 34

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8981-108599

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 35

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8984-108599

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 41

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 30

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 42

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9054-108599

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 31

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 40

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e9031-108599

Reference 13: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 33

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8971-108599

Reference 14: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 280

-SubTopic 10

-Section 50

-Paragraph 12

-URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8595-108599

+ Details

Guarantor/Non-Guarantor Financial Information

3 Months Ended

Mar. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Guarantor/Non-Guarantor Financial Information

The Senior Notes are general unsecured senior obligations of Tempur Sealy International and are fully and unconditionally guaranteed on a senior unsecured basis, jointly and severally, by all of Tempur Sealy International’s 100% directly or indirectly owned current and future domestic subsidiaries (the “Combined Guarantor Subsidiaries”). The foreign subsidiaries (the “Combined Non-Guarantor Subsidiaries”) represent the foreign operations of the Company and do not guarantee the Senior Notes. A subsidiary guarantor will be released from its obligations under the indenture governing the Senior Notes when: (a) the subsidiary guarantor is sold or sells all or substantially all of its assets; (b) the subsidiary is declared “unrestricted” under the indenture governing the Senior Notes; (c) the subsidiary’s guarantee of indebtedness under the 2012 Credit Agreement (as it may be amended, refinanced or replaced) is released (other than a discharge through repayment); or (d) the requirements for legal or covenant defeasance or discharge of the indenture have been satisfied. The principal elimination entries relate to investments in subsidiaries and intercompany balances and transactions, including transactions with the Company’s wholly-owned subsidiary guarantors and non-guarantor subsidiaries. The Company has accounted for its investments in its subsidiaries under the equity method.

The following financial information presents Condensed Consolidated Balance Sheets as of March 31, 2014 and December 31, 2013, and the related Condensed Consolidated Statements of Income and Comprehensive Income and Cash Flows for the three months ended March 31, 2014 and 2013, for Tempur Sealy International, Combined Guarantor Subsidiaries and Combined Non-Guarantor Subsidiaries.

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Statements of Income and Comprehensive Income

Three Months Ended March 31, 2014

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	508.3		$	197.9		$	(4.3	)	$	701.9
Cost of sales	—			340.0			96.7			(4.3		)	432.4
Gross profit	—			168.3			101.2			—			269.5
Selling and marketing expenses	0.5			95.5			47.0			—			143.0
General, administrative and other expenses	4.2			48.8			17.3			—			70.3
Equity income in earnings of unconsolidated affiliates	—			—			(1.7		)	—			(1.7		)
Royalty income, net of royalty expense	—			(4.5		)	—			—			(4.5		)
Operating (loss) income	(4.7		)	28.5			38.6			—			62.4

Other expense, net:
Third party interest expense, net	6.8			15.1			0.3			—			22.2
Intercompany interest expense (income), net	8.0			(8.6		)	0.6			—			—
Interest expense, net	14.8			6.5			0.9			—			22.2
Other (income) expense, net	—			(0.2		)	1.2			—			1.0
Total other expense	14.8			6.3			2.1			—			23.2

Income from equity investees	40.6			28.2			—			(68.8		)	—

Income before income taxes	21.1			50.4			36.5			(68.8		)	39.2
Income tax benefit (provision)	6.6			(9.8		)	(8.3		)	—			(11.5		)
Net income	27.7			40.6			28.2			(68.8		)	27.7
Less: net income attributable to non-controlling interest	0.3			0.3			—			(0.3		)	0.3
Net income attributable to Tempur Sealy International, Inc.	$	27.4		$	40.3		$	28.2		$	(68.5	)	$	27.4

Comprehensive income	$	29.2		$	40.6		$	29.8		$	(70.4	)	$	29.2

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Statements of Income and Comprehensive Income

Three Months Ended March 31, 2013

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	259.9		$	136.8		$	(6.6	)	$	390.1
Cost of sales	—			150.7			57.6			(6.6		)	201.7
Gross profit	—			109.2			79.2			—			188.4
Selling and marketing expenses	0.7			52.6			33.1			—			86.4
General, administrative and other expenses	3.7			40.3			14.7			—			58.7
Equity income in earnings of unconsolidated affiliates	—			—			(0.2		)	—			(0.2		)
Royalty income, net of royalty expense	—			(1.0		)	—			—			(1.0		)
Operating (loss) income	(4.4		)	17.3			31.6			—			44.5

Other expense, net:
Third party interest expense, net	4.2			23.4			0.3			—			27.9
Intercompany interest expense (income), net	8.4			(8.4		)	—			—			—
Interest expense, net	12.6			15.0			0.3			—			27.9
Other expense, net	—			0.4			1.1			—			1.5
Total other expense	12.6			15.4			1.4			—			29.4

Income from equity investees	24.8			23.1			—			(47.9		)	—

Income before income taxes	7.8			25.0			30.2			(47.9		)	15.1
Income tax benefit (provision)	4.7			(0.2		)	(7.1		)	—			(2.6		)
Net income	12.5			24.8			23.1			(47.9		)	12.5
Less: net income attributable to non-controlling interest	—			—			—			—			—
Net income attributable to Tempur Sealy International, Inc.	$	12.5		$	24.8		$	23.1		$	(47.9	)	$	12.5

Comprehensive income	$	1.8		$	21.7		$	15.5		$	(37.2	)	$	1.8

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Balance Sheets

March 31, 2014

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS

Current Assets:
Cash and cash equivalents	$	—	$	33.0	$	46.7		$	—		$	79.7
Accounts receivable, net	—		219.8		148.6			—			368.4
Inventories	—		168.0		54.7			—			222.7
Income taxes payable	126.5		—		—			(126.5		)	—
Prepaid expenses and other current assets	1.1		27.5		30.8			—			59.4
Deferred income taxes	9.4		28.8		4.8			—			43.0
Total Current Assets	137.0		477.1		285.6			(126.5		)	773.2
Property, plant and equipment, net	—		328.5		73.9			—			402.4
Goodwill	—		578.6		185.8			—			764.4
Other intangible assets, net	—		621.2		122.5			—			743.7
Deferred tax asset	—		—		10.8			—			10.8
Other non-current assets	7.2		51.7		18.0			—			76.9
Net investment in subsidiaries	1,765.0		—		—			(1,765.0		)	—
Due from affiliates	74.5		2,036.3		1.4			(2,112.2		)	—
Total Assets	$	1,983.7	$	4,093.4	$	698.0		$	(4,003.7	)	$	2,771.4

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:
Accounts payable	$	—	$	155.0	$	45.8		$	—		$	200.8
Accrued expenses and other current liabilities	7.8		129.1		58.5			—			195.4
Deferred income taxes	—		—		0.9			—			0.9
Income taxes payable	—		126.0		4.3			(126.5		)	3.8
Current portion of long-term debt	—		42.8		2.8			—			45.6
Total Current Liabilities	7.8		452.9		112.3			(126.5		)	446.5
Long-term debt	375.0		1,424.7		—			—			1,799.7
Deferred income taxes	—		248.1		31.8			—			279.9
Other non-current liabilities	—		73.7		8.3			—			82.0
Due to affiliates	1,437.6		129.1		916.9			(2,483.6		)	—
Total Liabilities	1,820.4		2,328.5		1,069.3			(2,610.1		)	2,608.1

Redeemable non-controlling interest	11.8		11.8		—			(11.8		)	11.8

Total Stockholders’ Equity	151.5		1,753.1		(371.3		)	(1,381.8		)	151.5
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	$	1,983.7	$	4,093.4	$	698.0		$	(4,003.7	)	$	2,771.4

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Balance Sheets

December 31, 2013

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS

Current Assets:
Cash and cash equivalents	$	—	$	30.9	$	50.1		$	—		$	81.0
Accounts receivable, net	—		192.6		156.6			—			349.2
Inventories	—		147.5		51.7			—			199.2
Income taxes payable	118.4		—		—			(118.4		)	—
Prepaid expenses and other current assets	—		26.3		27.4			—			53.7
Deferred income taxes	10.0		29.3		5.1			—			44.4
Total Current Assets	128.4		426.6		290.9			(118.4		)	727.5
Property, plant and equipment, net	—		335.9		75.7			—			411.6
Goodwill	—		577.2		182.4			—			759.6
Other intangible assets, net	—		624.6		125.5			—			750.1
Deferred tax asset	—		—		10.9			—			10.9
Other non-current assets	7.6		47.0		15.6			—			70.2
Net investment in subsidiaries	756.0		—		—			(756.0		)	—
Due from affiliates	1,299.9		2,306.5		0.9			(3,607.3		)	—
Total Assets	$	2,191.9	$	4,317.8	$	701.9		$	(4,481.7	)	$	2,729.9

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:
Accounts payable	$	—	$	140.5	$	50.7		$	—		$	191.2
Accrued expenses and other current liabilities	1.4		144.2		62.8			—			208.4
Deferred income taxes	—		—		0.8			—			0.8
Income taxes payable	—		115.2		4.7			(118.4		)	1.5
Current portion of long-term debt	—		36.6		3.0			—			39.6
Total Current Liabilities	1.4		436.5		122.0			(118.4		)	441.5
Long-term debt	375.0		1,421.9		—			—			1,796.9
Deferred income taxes	—		252.8		33.3			—			286.1
Other non-current liabilities	—		69.1		6.2			—			75.3
Due to affiliates	1,685.4		1,381.5		940.5			(4,007.4		)	—
Total Liabilities	2,061.8		3,561.8		1,102.0			(4,125.8		)	2,599.8
											—
Redeemable non-controlling interest	11.5		11.5		—			(11.5		)	11.5
											—
Total Stockholders’ Equity	118.6		744.5		(400.1		)	(344.4		)	118.6
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	$	2,191.9	$	4,317.8	$	701.9		$	(4,481.7	)	$	2,729.9

Supplemental Condensed Consolidated Statements of Cash Flows

Three Months Ended March 31, 2014

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net cash (used in) provided by operating activities	$	(10.5	)	$	(14.8	)	$	23.7		$	—	$	(1.6	)

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	—			(5.5		)	(2.3		)	—		(7.8		)
Acquisition of businesses, net of cash acquired	—			—			—			—		—
Other	—			0.9			(1.7		)	—		(0.8		)
Net cash used in investing activities	—			(4.6		)	(4.0		)	—		(8.6		)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	—			74.5			—			—		74.5
Repayments 2012 Credit Agreement	—			(66.5		)	—			—		(66.5		)
Proceeds from issuance of Senior Notes	—			—			—			—		—
Net activity in investment in and advances from (to) subsidiaries and affiliates	10.1			13.9			(24.0		)	—		—
Payment of deferred financing costs	—			—			—			—		—
Proceeds from exercise of stock options	1.7			—			—			—		1.7
Excess tax benefit from stock based compensation	0.9			—			—			—		0.9
Treasury stock repurchased	(2.2		)	—			—			—		(2.2		)
Other	—			(0.4		)	0.5			—		0.1
Net cash provided by (used in) financing activities	10.5			21.5			(23.5		)	—		8.5

NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			0.4			—		0.4
Increase (decrease) in cash and cash equivalents	—			2.1			(3.4		)	—		(1.3		)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	—			30.9			50.1			—		81.0
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	—		$	33.0		$	46.7		$	—	$	79.7

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Statements of Cash Flows

Three Months Ended March 31, 2013

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net cash (used in) provided by operating activities	$	(17.9	)	$	68.1		$	(45.0	)	$	—	$	5.2

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	—			34.3			(39.9		)	—		(5.6		)
Acquisition of businesses, net of cash acquired	—			(1,265.5		)	—			—		(1,265.5		)
Other	—			54.1			(54.0		)	—		0.1
Net cash used in by investing activities	—			(1,177.1		)	(93.9		)	—		(1,271.0		)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	—			1,525.0			—			—		1,525.0
Repayments 2012 Credit Agreement	—			(24.1		)	—			—		(24.1		)
Proceeds from issuance of Senior Notes	375.0			—			—			—		375.0
Proceeds from 2011 Credit Facility	—			46.5			—			—		46.5
Repayments of 2011 Credit Facility	—			(696.5		)	—			—		(696.5		)
Net activity in investment in and advances (to) from subsidiaries and affiliates	(801.6		)	760.5			41.1			—		—
Payment of deferred financing costs	(8.1		)	(43.4		)	—			—		(51.5		)
Proceeds from exercise of stock options	4.2			—			—			—		4.2
Excess tax benefit from stock based compensation	2.5			—			—			—		2.5
Treasury stock repurchased	446.0			(446.0		)	—			—		—
Other	—			(4.7		)	4.4			—		(0.3		)
Net cash provided by financing activities	18.0			1,117.3			45.5			—		1,180.8

NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			1.2			(4.0		)	—		(2.8		)
Increase (decrease) in cash and cash equivalents	0.1			9.5			(97.4		)	—		(87.8		)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	—			19.2			160.1			—		179.3
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	0.1		$	28.7		$	62.7		$	—	$	91.5

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References+ Details

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2014

Accounting Policies [Abstract]

Basis of Presentation and of Business

Inventories

(b) Inventories. Inventories are stated at the lower of cost or market, determined by the first-in, first-out method, and consist of the following:



(in millions)	March 31,		December 31,
	2014		2013
Finished goods	$	155.5	$	126.7
Work-in-process	11.2		10.0
Raw materials and supplies	56.0		62.5
	$	222.7	$	199.2

Accrued Sales Returns

The Company had the following activity for sales returns from December 31, 2013 to March 31, 2014:



(in millions)
Balance as of December 31, 2013	$	28.7
Amounts accrued	29.6
Returns charged to accrual	(29.1		)
Balance as of March 31, 2014	$	29.2

Warranties

The following summarizes the Company’s warranty terms:



Segment	Product/Brand	Warranty Term (in years)
Tempur North America	Mattresses	10 - 25, prorated ⁽¹⁾
Tempur North America	Pillows	3
Tempur International	Mattresses	15, prorated ⁽²⁾
Tempur International	Pillows	3
Sealy	Mattresses	10 - 25, prorated⁽¹⁾


(1)	Products have various warranty terms, generally non-prorated for the first 10 to 15 years and then prorated for the balance of the warranty term.


(2)	The last 10 years of warranty period are prorated on a straight-line basis.

The Company had the following activity for warranties from December 31, 2013 to March 31, 2014:



(in millions)
Balance as of December 31, 2013	$	26.1
Amounts accrued	16.5
Warranties charged to accrual	(14.6		)
Balance as of March 31, 2014	$	28.0

Revenue Recognition

Research and Development Expenses

Royalty Income and Expense

Environmental Obligations

Pension Obligations

Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2014

Accounting Policies [Abstract]

Schedule of Inventory, Current

Inventories are stated at the lower of cost or market, determined by the first-in, first-out method, and consist of the following:



(in millions)	March 31,		December 31,
	2014		2013
Finished goods	$	155.5	$	126.7
Work-in-process	11.2		10.0
Raw materials and supplies	56.0		62.5
	$	222.7	$	199.2

Changes in accrued sales returns

The Company had the following activity for sales returns from December 31, 2013 to March 31, 2014:



(in millions)
Balance as of December 31, 2013	$	28.7
Amounts accrued	29.6
Returns charged to accrual	(29.1		)
Balance as of March 31, 2014	$	29.2

Warranty terms

The following summarizes the Company’s warranty terms:



Segment	Product/Brand	Warranty Term (in years)
Tempur North America	Mattresses	10 - 25, prorated ⁽¹⁾
Tempur North America	Pillows	3
Tempur International	Mattresses	15, prorated ⁽²⁾
Tempur International	Pillows	3
Sealy	Mattresses	10 - 25, prorated⁽¹⁾


(1)	Products have various warranty terms, generally non-prorated for the first 10 to 15 years and then prorated for the balance of the warranty term.


(2)	The last 10 years of warranty period are prorated on a straight-line basis.

Warranty activity

The Company had the following activity for warranties from December 31, 2013 to March 31, 2014:



(in millions)
Balance as of December 31, 2013	$	26.1
Amounts accrued	16.5
Warranties charged to accrual	(14.6		)
Balance as of March 31, 2014	$	28.0

Business Combination (Tables)

3 Months Ended

Mar. 31, 2014

Business Combinations [Abstract]

Components of the preliminary purchase price allocation

The components of the final purchase price allocation are as follows:



(in millions)
Accounts receivable	$	185.0
Inventory	75.1
Prepaid expenses and other current assets	23.4
Accounts payable	(77.9		)
Accrued expenses	(140.0		)
Property, plant and equipment	242.1
Other assets	32.6
Identifiable intangible assets:
Indefinite-lived trade names	521.2
Contractual retailer/distributer relationships	91.1
Developed technology, including patents	87.1
Customer databases	3.9
Optimum™ trade name	2.3
Deferred income taxes, net	(231.2		)
Sealy 8.0% Notes	(96.2		)
Redeemable non-controlling interest	(11.3		)
Other liabilities	(77.5		)
Goodwill	543.2
Net consideration transferred	$	1,172.9		⁽¹⁾

(1)

Business acquisition, pro forma information



(in millions, except earnings per common share)	Three Months Ended		Three Months Ended
	March 31,		March 31,
	2014		2013
Net sales	$	701.9	$	683.0
Net income	$	27.4	$	15.6
Earnings from continuing operations per common share – Diluted	$	0.44	$	0.25

Goodwill and Other intangible assets (Tables)

3 Months Ended

Mar. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill by business segment

The following summarizes changes to the Company’s goodwill, by reportable business segment:



(in millions)	Total		Tempur North America			Tempur International		Sealy
Balance as of December 31, 2013	$	759.6	$	107.7		$	107.3	$	544.6
Foreign currency translation adjustments and other	4.8		(0.7		)	0.2		5.3
Balance as of March 31, 2014	$	764.4	$	107.0		$	107.5	$	549.9

Other intangible assets

The following table summarizes information relating to the Company’s other intangible assets, net:



($ in millions)
		March 31, 2014						December 31, 2013
	Useful Lives (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Unamortized indefinite life intangible assets:
Trade name		$	572.5	$	—	$	572.5	$	575.3	$	—	$	575.3
Amortized intangible assets:
Contractual distributor relationships	15	$	89.1	$	6.1	$	83.0	$	90.0	$	4.7	$	85.3
Technology and other	10	92.6		27.3		65.3		93.2		25.5		67.7
Patents, other trademarks, & other trade names	5-20	27.5		12.8		14.7		27.4		12.2		15.2
Customer databases, relationships, and reacquired rights	3-5	23.0		14.8		8.2		21.0		14.4		6.6
Total		$	804.7	$	61.0	$	743.7	$	806.9	$	56.8	$	750.1

Debt (Tables)

3 Months Ended

Mar. 31, 2014

Debt Disclosure [Abstract]

Schedule of long term debt

Debt for the Company consists of the following:



(in millions)	March 31, 2014			December 31, 2013
Debt:
Revolving credit facility, interest at Base Rate plus applicable margin of 2.00% or LIBOR plus applicable margin of 3.00% as of March 31, 2014 and as of December 31, 2013, commitment through and due March 18, 2018	$	113.0		$	74.5
Term A Facility, interest at LIBOR plus applicable margin of 2.25% as of March 31, 2014 and as of December 31, 2013, commitment through and due March 18, 2018	506.7			522.5
Term B Facility, interest at LIBOR plus applicable margin of 2.75% as of March 31, 2014 and as of December 31, 2013, commitment through and due March 18, 2020	722.7			737.3
$375.0 million Senior Notes, interest at 6.875%, due December 15, 2020	375.0			375.0
8.0% Sealy Notes, due July 15, 2016	100.9			99.6
Capital lease obligations and other	27.0			27.6
	$	1,845.3		$	1,836.5
Less: current portion	(45.6		)	(39.6		)
Long-term debt	$	1,799.7		$	1,796.9

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 235

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.4-08.(e),(f))

-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 55

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 45

-Paragraph 2

-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399

Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 835

-SubTopic 30

-Section 45

-Paragraph 1A

-URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 22

-Article 5

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.22)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 8: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 6

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 7

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 505

-SubTopic 10

-Section 50

-Paragraph 8

-URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 942

-SubTopic 470

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

+ Details

Derivative Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of derivative instruments

As of March 31, 2014 and December 31, 2013, the fair value of the Company’s derivative instruments included in the accompanying Condensed Consolidated Balance Sheets were recorded as follows:



(in millions)
	Asset Derivatives
	Balance Sheet Location	Fair Value
		March 31, 2014		December 31, 2013
Derivatives designated as hedging instruments
Foreign exchange forward contracts	Prepaid expenses and other current assets	$	1.0	$	—
Derivatives not designated as hedging instruments
Foreign exchange forward contracts	Prepaid expenses and other current assets	0.6		—
		$	1.6	$	—



(in millions)
	Liability Derivatives
	Balance Sheet Location	Fair Value
		March 31, 2014		December 31, 2013
Derivatives designated as hedging instruments
Interest rate swap - current	Accrued expenses and other current liabilities	$	1.5	$	1.4
Interest rate swap - non-current	Other non-current liabilities	0.6		0.9
		$	2.1	$	2.3

Effect of derivative instruments on Statements of Income

The effect of derivative instruments on the accompanying Condensed Consolidated Statements of Income for the three months ended March 31, 2014 was as follows:



Derivatives Designated as Cash Flow Hedging Relationships	Amount of Gain/(Loss) Recognized in Accumulated OCI on Derivative (Effective Portion)		Location of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)			Location of Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Interest rate swap	$	0.2	Interest expense, net	$	(0.5	)	Interest expense, net	$	—
Foreign exchange forward contracts	$	1.7	Cost of goods sold	$	(0.6	)	Cost of goods sold	$	(0.3	)

The effect of derivative instruments on the accompanying Condensed Consolidated Statements of Income for the three months ended March 31, 2013 was as follows:



Derivatives Designated as Cash Flow Hedging Relationships	Amount of Gain/(Loss) Recognized in Accumulated OCI on Derivative (Effective Portion)		Location of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)		Location of Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)	Amount of Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
Interest rate swap	$	0.6	Interest expense, net	(0.8	)	Interest expense, net	$	—

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Disclosures [Abstract]

Fair Value Measurements

The following table provides a summary by level of the fair value of financial instruments that are measured on a recurring basis:



(in millions)			Fair Value Measurements at March 31, 2014 Using:
	March 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Foreign exchange forward contracts	$	1.6	$	—	$	1.6	$	—
Liabilities:
Interest rate swap	$	2.1	$	—	$	2.1	$	—



(in millions)			Fair Value Measurements at December 31, 2013 Using:
	December 31, 2013		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Liabilities:
Interest rate swap	$	2.3	$	—	$	2.3	$	—

Other Items (Tables)

3 Months Ended

Mar. 31, 2014

Other Items [Abstract]

Changes in accumulated other comprehensive loss

Accumulated other comprehensive income consisted of the following:



(in millions)	Three Months Ended
	March 31,
	2014			2013
Foreign Currency Translation
Balance at beginning of period	$	(15.6	)	$	(4.9	)
Other comprehensive income (loss):
Foreign currency translation adjustments ⁽¹⁾	0.8			(11.1		)
Balance at end of period	$	(14.8	)	$	(16.0	)

Interest Rate Swap
Balance at beginning of period	$	(1.4	)	$	(2.7	)
Other comprehensive income:
Net change from period revaluations:	0.7			1.4
Tax (expense)⁽²⁾	(0.3		)	(0.5		)
Total other comprehensive income before reclassifications, net of tax	$	0.4		$	0.9
Net amount reclassified to earnings ⁽³⁾	(0.5		)	(0.8		)
Tax benefit ⁽²⁾	0.2			0.3
Total amount reclassified from accumulated other comprehensive loss, net of tax	$	(0.3	)	$	(0.5	)
Total other comprehensive income	0.1			0.4
Balance at end of period	$	(1.3	)	$	(2.3	)

Pension Benefits
Balance at beginning of period	$	3.2		$	—
Other comprehensive income:
Net change from period revaluations	—			—
Tax (expense)	—			—
Total other comprehensive income	$	—		$	—
Balance at end of period	$	3.2		$	—

Foreign Exchange Forward Contracts
Balance at beginning of period	$	—		$	—
Other comprehensive income:
Net change from period revaluations:	1.7			—
Tax (expense)⁽²⁾	(0.4		)	—
Total other comprehensive income before reclassifications, net of tax	$	1.3		$	—
Net amount reclassified to earnings	(0.6		)
Tax benefit⁽²⁾	0.2			—
Total amount reclassified from accumulated other comprehensive income, net of tax	(0.4		)	$	—
Total other comprehensive income	0.9			—
Balance at end of period	$	0.9		$	—


⁽¹⁾	In 2014 and 2013, there were no tax impacts related to rate changes and no amounts were reclassified to earnings.


⁽²⁾	These amounts were included in the income tax provision on the accompanying Condensed Consolidated Statements of Income.


⁽³⁾	This amount was included in interest expense, net on the accompanying Condensed Consolidated Statements of Income.

Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of stock-based compensation expense

A summary of the Company’s stock-based compensation expense is presented below:



(in millions)	Three Months Ended March 31,
	2014		2013
PRSU expense	$	1.1	$	0.8
Option expense	1.7		2.1
RSU/DSU expense	1.3		0.6
Total stock based compensation expense	$	4.1	$	3.5

Summary of PRSU activity and related information

A summary of the Company’s PRSU activity and related information for the three months ended March 31, 2014 is presented below:



(shares in millions)
	Number of Shares	Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Awards outstanding at December 31, 2013	0.3	$	39.04
Granted	0.3	51.87
Vested	0.0	37.05
Forfeited	—	—
Awards outstanding at March 31, 2014	0.6	$	46.31	$	25.2

Schedule of stock option activity

A summary of the Company’s stock option activity and related information for the three months ended March 31, 2014 is presented below:



(shares in millions)
	Number of Shares		Weighted- Average Grant Date Fair Value		Weighted- Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Options outstanding December 31, 2013	2.8		$	21.73
Granted	0.2		51.86
Forfeited	0.0		49.63
Exercised	(0.1	)	18.85
Options outstanding at March 31, 2014	2.9		$	23.95	5.91	$	71.2
Options exercisable at March 31, 2014	2.4		$	19.10	5.17	$	76.3

Schedule of restricted stock units and deferred stock units

A summary of the Company’s RSU and DSU activity and related information for the three months ended March 31, 2014 is presented below:



(shares in millions)
	Number of Shares		Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Awards outstanding at December 31, 2013	0.2		$	47.00
Granted	—		—
Vested	(0.1	)	49.47
Forfeited	—		—
Awards outstanding at March 31, 2014	0.1		$	36.45	$	5.2

Schedule of Unrecognized Compensation Expense



($ in millions)
	March 31, 2014		Weighted Average Remaining Vesting Period (Years)
Unrecognized PRSU expense	$	14.1	1.73
Unrecognized stock option expense	4.3		0.68
Total unrecognized stock-based compensation expense	$	18.4	2.41

Earnings Per Common Share (Tables)

3 Months Ended

Mar. 31, 2014

Earnings Per Share [Abstract]

Earnings per share

Earnings Per Common Share



(in millions, except per common share amounts)
	Three Months Ended
	March 31,
	2014		2013
Numerator:
Net income attributable to Tempur Sealy International, Inc.	$	27.4	$	12.5

Denominator:
Denominator for basic earnings per common share-weighted average shares	60.7		60.0
Effect of dilutive securities:
Employee stock-based compensation	1.2		1.2
Denominator for diluted earnings per common share-adjusted weighted average shares	61.9		61.2

Basic earnings per common share	$	0.45	$	0.21

Diluted earnings per common share	$	0.44	$	0.20

Business Segment Information (Tables)

3 Months Ended

Mar. 31, 2014

Segment Reporting [Abstract]

Total assets and long-lived assets by segment

The following table summarizes total assets by segment:



(in millions)	March 31,			December 31,
Total assets:	2014			2013
Tempur North America	$	2,502.1		$	2,110.7
Tempur International	509.2			477.7
Sealy	1,949.8			1,956.6
Inter-segment eliminations	(2,189.7		)	(1,815.1		)
	$	2,771.4		$	2,729.9

The following table summarizes long-lived assets by segment:



(in millions)	March 31,		December 31,
Long-lived assets:	2014		2013
Tempur North America	$	391.1	$	393.1
Tempur International	67.4		68.7
Sealy	1,452.0		1,459.5
	$	1,910.5	$	1,921.3

Long-lived assets by geographic region

The following table summarizes long-lived assets by geographic region:



(in millions)	March 31,		December 31,
	2014		2013
United States	$	1,637.7	$	1,647.0
Canada	49.5		52.1
Other International	223.3		222.2
	$	1,910.5	$	1,921.3
Total International	272.8		274.3

Net sales by geographic region

The following table summarizes net sales by geographic region:



(in millions)	Three Months Ended
	March 31,
	2014		2013
United States	$	504.0	$	253.3
Canada	48.7		15.0
Other International	149.2		121.8
	$	701.9	$	390.1
Total International	$	197.9	$	136.8

Segment financial information

The following table summarizes segment information:



(in millions)	Three Months Ended
	March 31,
	2014			2013
Net sales to external customers:
Tempur North America
Bedding	$	199.5		$	204.6
Other products	13.5			21.3
	$	213.0		$	225.9

Tempur International
Bedding	$	95.2		$	89.3
Other products	30.5			28.2
	$	125.7		$	117.5

Sealy ⁽¹⁾
Bedding	$	341.3		$	44.7
Other products	21.9			2.0
	$	363.2		$	46.7
	$	701.9		$	390.1

Inter-segment sales:
Tempur North America	$	0.1		$	0.1
Tempur International	0.1			0.1
Sealy	4.3			—
Intercompany eliminations	(4.5		)	(0.2		)
	$	—		$	—

Gross profit:
Tempur North America	$	85.8		$	103.5
Tempur International	75.1			74.2
Sealy	108.6			10.7
	$	269.5		$	188.4

(1) The Company's results for the first quarter of 2013 include Sealy's results of operations from March 18, 2013 through March 31, 2013




Operating income:
Tempur North America	$	11.1		$	15.9
Tempur International	28.0			31.3
Sealy	23.3			(2.7		)
	$	62.4		$	44.5

(Loss) income before income taxes:
Tempur North America	$	(8.2	)	$	(11.7	)
Tempur International	27.4			30.3
Sealy	20.0			(3.5		)
	$	39.2		$	15.1

Depreciation and amortization (including stock-based compensation amortization):
Tempur North America	$	8.4		$	9.8
Tempur International	3.2			3.1
Sealy	12.4			1.8
	$	24.0		$	14.7

Intercompany royalties:
Tempur North America	$	1.5		$	1.3
Tempur International	(1.5		)	(1.3		)
Sealy	—			—
	$	—		$	—

Capital expenditures:
Tempur North America	$	2.0		$	3.9
Tempur International	1.7			1.7
Sealy	4.1			—
	$	7.8		$	5.6

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References+ Details

Guarantor/Non-Guarantor Financial Information (Tables)

3 Months Ended

Mar. 31, 2014

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule of supplemental condensed consolidated statements of comprehensive income

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Statements of Income and Comprehensive Income

Three Months Ended March 31, 2014

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	508.3		$	197.9		$	(4.3	)	$	701.9
Cost of sales	—			340.0			96.7			(4.3		)	432.4
Gross profit	—			168.3			101.2			—			269.5
Selling and marketing expenses	0.5			95.5			47.0			—			143.0
General, administrative and other expenses	4.2			48.8			17.3			—			70.3
Equity income in earnings of unconsolidated affiliates	—			—			(1.7		)	—			(1.7		)
Royalty income, net of royalty expense	—			(4.5		)	—			—			(4.5		)
Operating (loss) income	(4.7		)	28.5			38.6			—			62.4

Other expense, net:
Third party interest expense, net	6.8			15.1			0.3			—			22.2
Intercompany interest expense (income), net	8.0			(8.6		)	0.6			—			—
Interest expense, net	14.8			6.5			0.9			—			22.2
Other (income) expense, net	—			(0.2		)	1.2			—			1.0
Total other expense	14.8			6.3			2.1			—			23.2

Income from equity investees	40.6			28.2			—			(68.8		)	—

Income before income taxes	21.1			50.4			36.5			(68.8		)	39.2
Income tax benefit (provision)	6.6			(9.8		)	(8.3		)	—			(11.5		)
Net income	27.7			40.6			28.2			(68.8		)	27.7
Less: net income attributable to non-controlling interest	0.3			0.3			—			(0.3		)	0.3
Net income attributable to Tempur Sealy International, Inc.	$	27.4		$	40.3		$	28.2		$	(68.5	)	$	27.4

Comprehensive income	$	29.2		$	40.6		$	29.8		$	(70.4	)	$	29.2

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Statements of Income and Comprehensive Income

Three Months Ended March 31, 2013

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	259.9		$	136.8		$	(6.6	)	$	390.1
Cost of sales	—			150.7			57.6			(6.6		)	201.7
Gross profit	—			109.2			79.2			—			188.4
Selling and marketing expenses	0.7			52.6			33.1			—			86.4
General, administrative and other expenses	3.7			40.3			14.7			—			58.7
Equity income in earnings of unconsolidated affiliates	—			—			(0.2		)	—			(0.2		)
Royalty income, net of royalty expense	—			(1.0		)	—			—			(1.0		)
Operating (loss) income	(4.4		)	17.3			31.6			—			44.5

Other expense, net:
Third party interest expense, net	4.2			23.4			0.3			—			27.9
Intercompany interest expense (income), net	8.4			(8.4		)	—			—			—
Interest expense, net	12.6			15.0			0.3			—			27.9
Other expense, net	—			0.4			1.1			—			1.5
Total other expense	12.6			15.4			1.4			—			29.4

Income from equity investees	24.8			23.1			—			(47.9		)	—

Income before income taxes	7.8			25.0			30.2			(47.9		)	15.1
Income tax benefit (provision)	4.7			(0.2		)	(7.1		)	—			(2.6		)
Net income	12.5			24.8			23.1			(47.9		)	12.5
Less: net income attributable to non-controlling interest	—			—			—			—			—
Net income attributable to Tempur Sealy International, Inc.	$	12.5		$	24.8		$	23.1		$	(47.9	)	$	12.5

Comprehensive income	$	1.8		$	21.7		$	15.5		$	(37.2	)	$	1.8

Schedule of supplemental condensed consolidated balance sheets

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Balance Sheets

March 31, 2014

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS

Current Assets:
Cash and cash equivalents	$	—	$	33.0	$	46.7		$	—		$	79.7
Accounts receivable, net	—		219.8		148.6			—			368.4
Inventories	—		168.0		54.7			—			222.7
Income taxes payable	126.5		—		—			(126.5		)	—
Prepaid expenses and other current assets	1.1		27.5		30.8			—			59.4
Deferred income taxes	9.4		28.8		4.8			—			43.0
Total Current Assets	137.0		477.1		285.6			(126.5		)	773.2
Property, plant and equipment, net	—		328.5		73.9			—			402.4
Goodwill	—		578.6		185.8			—			764.4
Other intangible assets, net	—		621.2		122.5			—			743.7
Deferred tax asset	—		—		10.8			—			10.8
Other non-current assets	7.2		51.7		18.0			—			76.9
Net investment in subsidiaries	1,765.0		—		—			(1,765.0		)	—
Due from affiliates	74.5		2,036.3		1.4			(2,112.2		)	—
Total Assets	$	1,983.7	$	4,093.4	$	698.0		$	(4,003.7	)	$	2,771.4

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:
Accounts payable	$	—	$	155.0	$	45.8		$	—		$	200.8
Accrued expenses and other current liabilities	7.8		129.1		58.5			—			195.4
Deferred income taxes	—		—		0.9			—			0.9
Income taxes payable	—		126.0		4.3			(126.5		)	3.8
Current portion of long-term debt	—		42.8		2.8			—			45.6
Total Current Liabilities	7.8		452.9		112.3			(126.5		)	446.5
Long-term debt	375.0		1,424.7		—			—			1,799.7
Deferred income taxes	—		248.1		31.8			—			279.9
Other non-current liabilities	—		73.7		8.3			—			82.0
Due to affiliates	1,437.6		129.1		916.9			(2,483.6		)	—
Total Liabilities	1,820.4		2,328.5		1,069.3			(2,610.1		)	2,608.1

Redeemable non-controlling interest	11.8		11.8		—			(11.8		)	11.8

Total Stockholders’ Equity	151.5		1,753.1		(371.3		)	(1,381.8		)	151.5
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	$	1,983.7	$	4,093.4	$	698.0		$	(4,003.7	)	$	2,771.4

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Balance Sheets

December 31, 2013

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
ASSETS

Current Assets:
Cash and cash equivalents	$	—	$	30.9	$	50.1		$	—		$	81.0
Accounts receivable, net	—		192.6		156.6			—			349.2
Inventories	—		147.5		51.7			—			199.2
Income taxes payable	118.4		—		—			(118.4		)	—
Prepaid expenses and other current assets	—		26.3		27.4			—			53.7
Deferred income taxes	10.0		29.3		5.1			—			44.4
Total Current Assets	128.4		426.6		290.9			(118.4		)	727.5
Property, plant and equipment, net	—		335.9		75.7			—			411.6
Goodwill	—		577.2		182.4			—			759.6
Other intangible assets, net	—		624.6		125.5			—			750.1
Deferred tax asset	—		—		10.9			—			10.9
Other non-current assets	7.6		47.0		15.6			—			70.2
Net investment in subsidiaries	756.0		—		—			(756.0		)	—
Due from affiliates	1,299.9		2,306.5		0.9			(3,607.3		)	—
Total Assets	$	2,191.9	$	4,317.8	$	701.9		$	(4,481.7	)	$	2,729.9

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:
Accounts payable	$	—	$	140.5	$	50.7		$	—		$	191.2
Accrued expenses and other current liabilities	1.4		144.2		62.8			—			208.4
Deferred income taxes	—		—		0.8			—			0.8
Income taxes payable	—		115.2		4.7			(118.4		)	1.5
Current portion of long-term debt	—		36.6		3.0			—			39.6
Total Current Liabilities	1.4		436.5		122.0			(118.4		)	441.5
Long-term debt	375.0		1,421.9		—			—			1,796.9
Deferred income taxes	—		252.8		33.3			—			286.1
Other non-current liabilities	—		69.1		6.2			—			75.3
Due to affiliates	1,685.4		1,381.5		940.5			(4,007.4		)	—
Total Liabilities	2,061.8		3,561.8		1,102.0			(4,125.8		)	2,599.8
											—
Redeemable non-controlling interest	11.5		11.5		—			(11.5		)	11.5
											—
Total Stockholders’ Equity	118.6		744.5		(400.1		)	(344.4		)	118.6
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	$	2,191.9	$	4,317.8	$	701.9		$	(4,481.7	)	$	2,729.9

Schedule of supplemental condensed consolidated statements of cash flows

Supplemental Condensed Consolidated Statements of Cash Flows

Three Months Ended March 31, 2014

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net cash (used in) provided by operating activities	$	(10.5	)	$	(14.8	)	$	23.7		$	—	$	(1.6	)

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	—			(5.5		)	(2.3		)	—		(7.8		)
Acquisition of businesses, net of cash acquired	—			—			—			—		—
Other	—			0.9			(1.7		)	—		(0.8		)
Net cash used in investing activities	—			(4.6		)	(4.0		)	—		(8.6		)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	—			74.5			—			—		74.5
Repayments 2012 Credit Agreement	—			(66.5		)	—			—		(66.5		)
Proceeds from issuance of Senior Notes	—			—			—			—		—
Net activity in investment in and advances from (to) subsidiaries and affiliates	10.1			13.9			(24.0		)	—		—
Payment of deferred financing costs	—			—			—			—		—
Proceeds from exercise of stock options	1.7			—			—			—		1.7
Excess tax benefit from stock based compensation	0.9			—			—			—		0.9
Treasury stock repurchased	(2.2		)	—			—			—		(2.2		)
Other	—			(0.4		)	0.5			—		0.1
Net cash provided by (used in) financing activities	10.5			21.5			(23.5		)	—		8.5

NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			0.4			—		0.4
Increase (decrease) in cash and cash equivalents	—			2.1			(3.4		)	—		(1.3		)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	—			30.9			50.1			—		81.0
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	—		$	33.0		$	46.7		$	—	$	79.7

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Condensed Consolidated Statements of Cash Flows

Three Months Ended March 31, 2013

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations		Consolidated
Net cash (used in) provided by operating activities	$	(17.9	)	$	68.1		$	(45.0	)	$	—	$	5.2

CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	—			34.3			(39.9		)	—		(5.6		)
Acquisition of businesses, net of cash acquired	—			(1,265.5		)	—			—		(1,265.5		)
Other	—			54.1			(54.0		)	—		0.1
Net cash used in by investing activities	—			(1,177.1		)	(93.9		)	—		(1,271.0		)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	—			1,525.0			—			—		1,525.0
Repayments 2012 Credit Agreement	—			(24.1		)	—			—		(24.1		)
Proceeds from issuance of Senior Notes	375.0			—			—			—		375.0
Proceeds from 2011 Credit Facility	—			46.5			—			—		46.5
Repayments of 2011 Credit Facility	—			(696.5		)	—			—		(696.5		)
Net activity in investment in and advances (to) from subsidiaries and affiliates	(801.6		)	760.5			41.1			—		—
Payment of deferred financing costs	(8.1		)	(43.4		)	—			—		(51.5		)
Proceeds from exercise of stock options	4.2			—			—			—		4.2
Excess tax benefit from stock based compensation	2.5			—			—			—		2.5
Treasury stock repurchased	446.0			(446.0		)	—			—		—
Other	—			(4.7		)	4.4			—		(0.3		)
Net cash provided by financing activities	18.0			1,117.3			45.5			—		1,180.8

NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			1.2			(4.0		)	—		(2.8		)
Increase (decrease) in cash and cash equivalents	0.1			9.5			(97.4		)	—		(87.8		)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	—			19.2			160.1			—		179.3
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	0.1		$	28.7		$	62.7		$	—	$	91.5

Summary of Significant Accounting Policies - Basis of presentation and of business (Details)	3 Months Ended
	Mar. 31, 2014 plant channel
Business Acquisition [Line Items]
Number of products sales channels	3
Number of active plants	4
Number of previously closed U.S. plants	8
Ownership percentage by parent (in hundredths)	100.00%
Comfort Revolution [Member]
Business Acquisition [Line Items]
Percentage of owned subsidiary (in hundredths)	45.00%
Sealy Canada [Member]
Business Acquisition [Line Items]
Ownership percentage by parent (in hundredths)	100.00%

Summary of Significant Accounting Policies - Inventory, warranty and other (Details) (USD $)
In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Inventory [Abstract]

Finished goods

$ 155.5

$ 126.7

Work-in-process

11.2

10.0

Raw materials and supplies

56.0

62.5

Total

222.7

199.2

Valuation and Qualifying Accounts Disclosure [Line Items]

Royalty income, net of royalty expense

4.5

1.0

Movement in Standard Product Warranty Accrual [Roll Forward]

Accrued expenses

16.5

14.9

Other non-current liabilities

11.5

11.2

Revenue Recognition [Abstract]

Allowance for doubtful accounts included in accounts receivable, net

20.5

19.3

Research and Development Expenses {Abstract]

Research and development costs charged to expense

5.9

4.8

Tempur North America [Member] | Mattresses

Warranty Term [Abstract]

Warranty Term

25 years

^[1]

Basis on which warranty of product is spread

prorated

^[1]

Tempur North America [Member] | Pillows

Warranty Term [Abstract]

Warranty Term

3 years

Tempur International [Member] | Mattresses

Warranty Term [Abstract]

Warranty Term

15 years

^[1]

Basis on which warranty of product is spread

prorated

^[1]

Tempur International [Member] | Pillows

Warranty Term [Abstract]

Warranty Term

3 years

Sealy [Member] | Mattresses

Warranty Term [Abstract]

Basis on which warranty of product is spread

non-prorated

^[2]

Prorated [Member] | Mattresses

Warranty Term [Abstract]

Warranty Term

10 years

Sales Returns [Member]

Sales returns [Abstract]

Beginning balance

28.7

Amounts accrued

29.6

Returns charged to accrual

(29.1)

Ending balance

29.2

Warranty Reserves [Member]

Movement in Standard Product Warranty Accrual [Roll Forward]

Beginning balance

26.1

Amounts accrued

16.5

Warranties charged to accrual

(14.6)

Ending balance

$ 28.0

Minimum [Member] | Sealy [Member] | Mattresses

Warranty Term [Abstract]

Warranty Term

10 years

^[2]

Minimum [Member] | Non-prorated [Member] | Sealy [Member] | Mattresses

Warranty Term [Abstract]

Warranty Term

10 years

Maximum [Member] | Sealy [Member] | Mattresses

Warranty Term [Abstract]

Warranty Term

25 years

^[2]

Maximum [Member] | Non-prorated [Member] | Sealy [Member] | Mattresses

Warranty Term [Abstract]

Warranty Term

15 years

[1]	The last 10 years of warranty period are prorated on a straight-line basis.
[2]	Products have various warranty terms, generally non-prorated for the first 10 to 15 years and then prorated for the balance of the warranty term.

Business Combination (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended				0 Months Ended	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	May 10, 2013	Mar. 18, 2013 Sealy [Member]	Mar. 31, 2014 Sealy [Member]	Mar. 31, 2013 Sealy [Member]	Mar. 18, 2013 Sealy [Member] Trade Names [Member]	Mar. 18, 2013 Contractual or Distributer Relationships [Member] Sealy [Member]	Mar. 18, 2013 Developed Technology Rights [Member] Sealy [Member]	Mar. 18, 2013 Database Rights [Member] Sealy [Member]	Mar. 18, 2013 Trade Names [Member] Sealy [Member]	Mar. 31, 2014 Convertible Notes payable [Member]	Mar. 18, 2013 Convertible Notes payable [Member]
Business Acquisition [Line Items]
Conversion price per share of Sealy common stock issued and outstanding (in dollars per share)					$ 2.20
Direct transaction costs							$ 11.8
Incremental interest expense							19.9
Components of the final purchase price allocation:
Accounts receivable, net					185.0
Inventory					75.1
Prepaid expenses and other current assets					23.4
Accounts payable					(77.9)
Accrued expenses					(140.0)
Property, plant and equipment					242.1
Other assets					32.6
Identifiable Intangible Assets [Abstract]
Intangible assets not amortizable								521.2
Intangible assets, amortizable									91.1	87.1	3.9	2.3
Deferred income taxes, net					(231.2)
Sealy 8.0% Notes					(96.2)
Redeemable non-controlling interest					(11.3)
Other liabilities					(77.5)
Goodwill	764.4		759.6		543.2
Net consideration transferred					1,172.9
Notes to Purchase Price Allocation [Abstract]
Stated percentage (in hundredths)													8.00%	8.00%
Deposit transferred back to Company				92.6
Acquisition of businesses, net of cash acquired	0	1,265.5
Business acquisition, pro forma information [Abstract]
Net sales						683.0	701.9
Net income						$ 15.6	$ 27.4
Earnings from continuing operations per common share - Diluted						$ 0.25	$ 0.44

Goodwill and Other intangible assets - Goodwill (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014
Goodwill [Roll Forward]
Beginning balance	$ 759.6
Foreign currency translation adjustments	4.8
Ending balance	764.4
Tempur North America [Member]
Goodwill [Roll Forward]
Beginning balance	107.7
Foreign currency translation adjustments	(0.7)
Ending balance	107.0
Tempur International [Member]
Goodwill [Roll Forward]
Beginning balance	107.3
Foreign currency translation adjustments	0.2
Ending balance	107.5
Sealy [Member]
Goodwill [Roll Forward]
Beginning balance	544.6
Foreign currency translation adjustments	5.3
Ending balance	$ 549.9

Goodwill and Other intangible assets - Intangible Assets (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Gross carrying amount total	$ 804.7		$ 806.9
Accumulated amortization	61.0		56.8
Net carrying amount	743.7		750.1
Finite-Lived Intangible Assets, Net [Abstract]
Amortization expense relating to intangible assets	4.4	1.6
Trade Names [Member]
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Gross carrying amount total	572.5		575.3
Accumulated amortization	0		0
Net carrying amount	572.5		575.3
Contractual or Distributer Relationships [Member]
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Gross carrying amount total	89.1		90.0
Accumulated amortization	6.1		4.7
Net carrying amount	83.0		85.3
Useful life (in years)	15 years
Technology [Member]
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Gross carrying amount total	92.6		93.2
Accumulated amortization	27.3		25.5
Net carrying amount	65.3		67.7
Useful life (in years)	10 years
Patents, Other Trademarks and Other Trade Names [Member]
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Gross carrying amount total	27.5		27.4
Accumulated amortization	12.8		12.2
Net carrying amount	14.7		15.2
Patents, Other Trademarks and Other Trade Names [Member] \| Minimum [Member]
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Useful life (in years)	5 years
Patents, Other Trademarks and Other Trade Names [Member] \| Maximum [Member]
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Useful life (in years)	20 years
Customer-Related Intangible Assets [Member]
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Gross carrying amount total	23.0		21.0
Accumulated amortization	14.8		14.4
Net carrying amount	$ 8.2		$ 6.6
Customer-Related Intangible Assets [Member] \| Minimum [Member]
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Useful life (in years)	3 years
Customer-Related Intangible Assets [Member] \| Maximum [Member]
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Useful life (in years)	5 years

Debt (Details) (USD $)	3 Months Ended				3 Months Ended		3 Months Ended			3 Months Ended			3 Months Ended					3 Months Ended			3 Months Ended					3 Months Ended
Debt (Details) (USD $)	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Mar. 18, 2013 Subsidiaries [Member]	Mar. 31, 2014 Revolving Credit Facility [Member]	Dec. 31, 2013 Revolving Credit Facility [Member]	Mar. 31, 2014 Revolving Credit Facility [Member] Base Rate [Member]	Mar. 31, 2014 Revolving Credit Facility [Member] London Interbank Offered Rate (LIBOR) [Member]	Mar. 31, 2014 2012 Credit Agreement [Member]	Mar. 31, 2014 2012 Credit Agreement [Member] Debt Instrument, Redemption, Period One [Member]	Mar. 31, 2014 2012 Credit Agreement [Member] Term A Facility [Member]	Dec. 31, 2013 2012 Credit Agreement [Member] Term A Facility [Member]	Mar. 31, 2014 2012 Credit Agreement [Member] Term A Facility [Member] Debt Instrument, Redemption, Period One [Member]	Mar. 31, 2014 2012 Credit Agreement [Member] Term A Facility [Member] Debt Instrument, Redemption, Period Two [Member]	Mar. 31, 2014 2012 Credit Agreement [Member] Term A Facility [Member] London Interbank Offered Rate (LIBOR) [Member]	Mar. 31, 2014 2012 Credit Agreement [Member] Term B Facility [Member]	Dec. 31, 2013 2012 Credit Agreement [Member] Term B Facility [Member]	Mar. 31, 2014 2012 Credit Agreement [Member] Term B Facility [Member] London Interbank Offered Rate (LIBOR) [Member]	Mar. 31, 2014 Senior Notes [Member]	Dec. 31, 2013 Senior Notes [Member]	Mar. 31, 2014 Convertible Notes payable [Member]	Dec. 31, 2013 Convertible Notes payable [Member]	Mar. 18, 2013 Convertible Notes payable [Member]	Mar. 31, 2014 Capital Lease Obligations [Member]	Dec. 31, 2013 Capital Lease Obligations [Member]	Mar. 31, 2014 Capital Lease Obligations [Member] Minimum [Member]	Mar. 31, 2014 Capital Lease Obligations [Member] Maximum [Member]
Debt Instrument [Line Items]
Long-term Line of Credit					$ 113,000,000	$ 74,500,000					$ 506,700,000	$ 522,500,000				$ 722,700,000	$ 737,300,000
Senior Notes, Noncurrent																			375,000,000	375,000,000
Convertible notes payable																					100,900,000	99,600,000
Capital Lease Obligations And Other																								27,000,000	27,600,000
Total debt	1,845,300,000		1,836,500,000
Less current portion	(45,600,000)		(39,600,000)
Long-term debt	1,799,700,000		1,796,900,000
Principal borrowing capacity, maximum					350,000,000						550,000,000					870,000,000
Line of Credit Facility, Interest Rate at Period End							5.25%	3.16%							2.40%			3.50%
Letters of Credit Outstanding, Amount									20,900,000
Line of Credit Facility, Remaining Borrowing Capacity						216,100,000
Debt Instrument, Periodic Payment										1,800,000			6,800,000	13,500,000
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid											324,300,000					680,600,000
Proceeds from 2012 Credit Agreement	74,500,000	1,525,000,000			74,500,000
Stated percentage (in hundredths)																			6.875%		8.00%		8.00%
Outstanding Convertible Notes Percentage																					83.00%
Debt convertible ratio, period I																					2,325.43
Debt convertible ratio, period II																					2,200
Debt convertible ratio numerator																					1,000
Future Convertible Notes Percentage																					17.00%
Index rate or LIBOR plus (in hundredths)							2.00%	3.00%							2.25%			2.75%
Line of credit facility, initiation date																			Dec. 19, 2012
Line of credit facility, expiration date																			Dec. 15, 2020		Jul. 15, 2016
Prepayment of line of credit	66,500,000	24,100,000			36,000,000						15,800,000					14,700,000
Prepayments of Debt											9,100,000					12,800,000
Interest rate swap period	4 years
Domestic qualified cash, Maximum (in hundredths)									100.00%
Foreign qualified cash, maximum (in hundredths)									60.00%
Domestic and Foreign Qualified Cash, Maximum									150,000,000
Domestic Qualified Cash									33,000,000
Foreign qualified cash, Maximum									28,000,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt				96,200,000
Long-term debt, senior note																					101,100,000
Accreted discount																					$ 4,900,000
Remaining terms of leases																										8 years	10 years

Unconsolidated Affiliate Companies (Details) (Asia Pacific Joint Ventures [Member], USD $) In Millions, unless otherwise specified	Mar. 31, 2014	Dec. 31, 2013
Asia Pacific Joint Ventures [Member]
Schedule of Equity Method Investments [Line Items]
Percentage of owned subsidiary (in hundredths)	50.00%
Equity Method Investments	$ 9.6	$ 7.8

Derivative Financial Instruments (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended				3 Months Ended			3 Months Ended									3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2011	Mar. 31, 2014 Foreign Exchange Forward [Member]	Mar. 31, 2014 Designated as Hedging Instrument [Member]	Mar. 31, 2013 Designated as Hedging Instrument [Member]	Dec. 31, 2013 Designated as Hedging Instrument [Member]	Mar. 31, 2014 Designated as Hedging Instrument [Member] Foreign Exchange Forward [Member]	Mar. 31, 2014 Designated as Hedging Instrument [Member] Prepaid Expenses and Other Current Assets [Member] Foreign Exchange Forward [Member]	Dec. 31, 2013 Designated as Hedging Instrument [Member] Prepaid Expenses and Other Current Assets [Member] Foreign Exchange Forward [Member]	Mar. 31, 2014 Designated as Hedging Instrument [Member] Accrued Expenses And Other Current Liabilities [Member] Interest Rate Swap [Member]	Dec. 31, 2013 Designated as Hedging Instrument [Member] Accrued Expenses And Other Current Liabilities [Member] Interest Rate Swap [Member]	Mar. 31, 2014 Designated as Hedging Instrument [Member] Other Non-current Liabilities [Member] Interest Rate Swap [Member]	Dec. 31, 2013 Designated as Hedging Instrument [Member] Other Non-current Liabilities [Member] Interest Rate Swap [Member]	Mar. 31, 2014 Not Designated as Hedging Instrument [Member] Prepaid Expenses and Other Current Assets [Member] Foreign Exchange Forward [Member]	Dec. 31, 2013 Not Designated as Hedging Instrument [Member] Prepaid Expenses and Other Current Assets [Member] Foreign Exchange Forward [Member]	Mar. 31, 2014 Interest Expense [Member] Designated as Hedging Instrument [Member]	Mar. 31, 2013 Interest Expense [Member] Designated as Hedging Instrument [Member]	Mar. 31, 2014 Cost of Goods, Total [Member] Designated as Hedging Instrument [Member] Foreign Exchange Forward [Member]	Mar. 31, 2014 Other Income [Member] Not Designated as Hedging Instrument [Member] Foreign Exchange Forward [Member]
Interest Rate Risk [Abstract]
Term of interest rate swap	4 years
LIBOR-based interest rate	LIBOR-based interest rate to 1.25%
Variable interest rate (in hundredths)			1.25%
Senior credit facility balance covered under interest rate swap contracts		$ 150.0	$ 250.0
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	0.8
Derivatives, Fair Value [Line Items]
Derivative, Gain (Loss) on Derivative, Net																				0.8
Derivative Instruments, Gain (Loss) Recognized in Other Comprehensive Income (Loss), Effective Portion, Net					0.2	0.6		1.7
Derivative Asset, Fair Value, Gross Asset	1.6	0							1.0	0					0.6	0
Fair value of derivative liability					2.1		2.3				1.5	1.4	0.6	0.9
Derivative, Notional Amount				86.2
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net																	(0.5)	(0.8)	(0.6)
Derivative Instruments, Gain (Loss) Recognized in Income, Ineffective Portion and Amount Excluded from Effectiveness Testing, Net																	$ 0	$ 0	$ (0.3)

Fair Value Measurements (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014 Senior Notes [Member]	Mar. 31, 2014 Convertible Notes payable [Member]	Mar. 18, 2013 Convertible Notes payable [Member]	Mar. 31, 2014 Recurring [Member]	Dec. 31, 2013 Recurring [Member]	Mar. 31, 2014 Recurring [Member] Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	Dec. 31, 2013 Recurring [Member] Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	Mar. 31, 2014 Recurring [Member] Significant Other Observable Inputs (Level 2) [Member]	Dec. 31, 2013 Recurring [Member] Significant Other Observable Inputs (Level 2) [Member]	Mar. 31, 2014 Recurring [Member] Significant Unobservable Inputs (Level 3) [Member]	Dec. 31, 2013 Recurring [Member] Significant Unobservable Inputs (Level 3) [Member]
Assets [Abstract]
Foreign exchange forward contracts				$ 1.6		$ 0		$ 1.6		$ 0
Liabilities [Abstract]
Interest rate swap				2.1	2.3	0	0	2.1	2.3	0	0
Notes, fair value	$ 409.2	$ 101.1
Stated percentage (in hundredths)	6.875%	8.00%	8.00%

Stockholders' Equity (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	Mar. 31, 2014
Capital stock [Abstract]
Common stock shares authorized (in shares)	300.0
Common Stock, Par or Stated Value Per Share	$ 0.01
Preferred stock authorized shares (in shares)	0.01

Other Items - Accumulated other comprehensive loss (Details) (USD $)
In Millions, unless otherwise specified

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Mar. 31, 2014

Foreign Currency Translation [Member]

Mar. 31, 2013

Foreign Currency Translation [Member]

Mar. 31, 2014

Interest Rate Swap [Member]

Mar. 31, 2013

Interest Rate Swap [Member]

Mar. 31, 2014

Interest Rate Swap [Member]

Reclassification out of Accumulated Other Comprehensive Loss [Member]

Mar. 31, 2013

Interest Rate Swap [Member]

Reclassification out of Accumulated Other Comprehensive Loss [Member]

Dec. 31, 2013

Accumulated Defined Benefit Plans Adjustment [Member]

Dec. 31, 2012

Accumulated Defined Benefit Plans Adjustment [Member]

Mar. 31, 2014

Accumulated Foreign Exchange Forward Contract Adjustment [Member]

Mar. 31, 2013

Accumulated Foreign Exchange Forward Contract Adjustment [Member]

Mar. 31, 2014

Accumulated Foreign Exchange Forward Contract Adjustment [Member]

Reclassification out of Accumulated Other Comprehensive Loss [Member]

Mar. 31, 2013

Accumulated Foreign Exchange Forward Contract Adjustment [Member]

Reclassification out of Accumulated Other Comprehensive Loss [Member]

Accumulated Other Comprehensive Income (Loss) [Line Items]

Balance at beginning of period

$ (15.6)

$ (4.9)

$ (1.4)

$ (2.7)

$ 3.2

$ 0

Other comprehensive (loss) income [Abstract]

Net change from period revaluations

0.7

1.4

1.7

Tax (expense) benefit

(11.5)

(2.6)

(0.3)

^[1]

(0.5)

^[1]

0.2

^[1]

0.3

^[1]

(0.4)

0.2

Total other comprehensive income (loss) before reclassifications, net of tax

0.4

0.9

1.3

Net amount reclassified to earnings

(0.5)

^[2]

(0.8)

^[2]

(0.6)

Total amount reclassified from accumulated other comprehensive income (loss), net of tax

(0.3)

(0.5)

(0.4)

Total other comprehensive income (loss)

1.8

(10.7)

0.8

^[3]

(11.1)

^[3]

0.1

0.4

0.9

Balance at end of period

$ 3.2

$ 0

$ (14.8)

$ (16.0)

$ (1.3)

$ (2.3)

$ 3.2

$ 0

$ 0.9

$ 0

[1]	These amounts were included in the income tax provision on the accompanying Condensed Consolidated Statements of Income.
[2]	This amount was included in interest expense, net on the accompanying Condensed Consolidated Statements of Income.
[3]	In 2014 and 2013, there were no tax impacts related to rate changes and no amounts were reclassified to earnings.

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References+ Details

Stock-Based Compensation - Components of stock-based compensation expense (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 4.1	$ 3.5
Performance-based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1.1	0.8
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1.7	2.1
Restricted Stock Units And Deferred Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 1.3	$ 0.6

Stock-Based Compensation - PRSU, RSU and DSU activity and related information (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Performance-based Restricted Stock Units [Member]
Number of shares
Beginning balance (in shares)	0.3
Granted (in shares)	0.3
Vested (in shares)	0
Forfeited (in shares)	0
Ending balance (in shares)	0.6
Weighted average grant date fair value
Beginning balance (in dollars per share)	$ 39.04
Granted (in dollars per share)	$ 51.87
Vested (in dollars per share)	$ 37.05
Forfeited (in dollars per share)	$ 0.00
Ending balance (in dollars per share)	$ 46.31
Ending balance, Aggregate Intrinsic Value	$ 25.2
Maximum number of shares to be awarded (in shares)	0.7
Award performance period	1 year
Aggregate intrinsic value of RSU's	1.4	14.9
Performance Share Awards, Actual Payout Percentage	100.00%	282.00%
Restricted Stock Units (RSUs) [Member]
Weighted average grant date fair value
Award vesting period	1 year
Aggregate intrinsic value of RSU's	3.6	5.9
Restricted Stock Units And Deferred Stock Units [Member]
Number of shares
Beginning balance (in shares)	0.2
Granted (in shares)	0
Vested (in shares)	(0.1)
Forfeited (in shares)	0
Ending balance (in shares)	0.1
Weighted average grant date fair value
Beginning balance (in dollars per share)	$ 47.00
Granted (in dollars per share)	$ 0.00
Vested (in dollars per share)	$ 49.47
Forfeited (in dollars per share)	$ 0.0
Ending balance (in dollars per share)	$ 36.45
Ending balance, Aggregate Intrinsic Value	$ 5.2
Performance period ending December 31, 2015 \| Performance-based Restricted Stock Units [Member]
Weighted average grant date fair value
Award performance period	2 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	0.3
Performance period ending December 31, 2016 \| Performance-based Restricted Stock Units [Member]
Weighted average grant date fair value
Award performance period	3 years
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number	0.4
Maximum [Member] \| Performance-based Restricted Stock Units [Member]
Weighted average grant date fair value
Performance Share Awards, Actual Payout Percentage		300.00%

Stock-Based Compensation - Options (Details) (Stock Options [Member], USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Stock Options [Member]
Number of shares
Beginning Balance (in shares)	2.8
Granted (in shares)	0.2
Forfeited (in shares)	0
Exercised (in shares)	(0.1)
Ending balance (in shares)	2.9
Options exercisable (in shares)	2.4
Weighted average grant date fair value
Beginning balance (dollars per share)	$ 21.73
Granted (dollars per share)	$ 51.86
Forfeited (dollars per share)	$ 49.63
Exercised (dollars per share)	$ 18.85
Ending balance (dollars per share)	$ 23.95
Options exercisable (dollars per share)	$ 19.10
Ending balance weighted average remaining contractual term (in years)	5 years 10 months 27 days
Options exercisable weighted average remaining contractual term (in years)	5 years 2 months 1 day
Ending balance aggregate intrinsic value	$ 71.2
Options exercisable aggregate intrinsic value	76.3
Total intrinsic value of options exercised	$ 2.7	$ 7.5

Stock-Based Compensation - Summary of unrecognized stock-based compensation expense (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized stock-based compensation expense	$ 18.4
Weighted Average Remaining Vesting Period (Years)	2 years 4 months 27 days
Performance-based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized stock-based compensation expense	14.1
Weighted Average Remaining Vesting Period (Years)	1 year 8 months 23 days
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized stock-based compensation expense	$ 4.3
Weighted Average Remaining Vesting Period (Years)	0 years 8 months 4 days

Commitments and Contingencies - Litigation relating to Merger (Details) (Class Action Lawsuits Relating To Merger, USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014 officers
Class Action Lawsuits Relating To Merger
Loss Contingencies [Line Items]
Loss Contingency, Number of Defendants	2
Number of shares held by shareholders who sent notices to exercise rights as per Merger Agreement	3.1
Litigation Required Notice Period	120 days
Cash per share price (in dollars per share)	$ 2.20

Commitments and Contingencies - Environmental contingencies (Details) (USD $) In Millions, unless otherwise specified	Dec. 31, 2013 South Brunswick, New Jersey [Member]	Mar. 31, 2014 Oakville, Connecticut [Member]
Site Contingency [Line Items]
Accrued expenses associated with remediation project	$ 2.6	$ 0.1

- Definition

Carrying value of the obligation (known or estimated) arising from requirements to perform activities to remediate one or more sites, payable after twelve months or beyond the next operating cycle if longer.

+ References+ Details

Income Taxes (Details) (USD $)	3 Months Ended
Income Taxes (Details) (USD $)	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Effective income tax provision (in hundredths)	29.30%	17.20%
Statutory U.S. federal income tax (in hundredths)	35.00%	35.00%
Income Tax Examination [Line Items]
Unrecognized Tax Benefits	$ 26,000,000		$ 26,100,000
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued	11,300,000		11.0
Danish tax authority
Income Tax Examination [Line Items]
Cumulative Assessment Amount Including Interest And Penalties	$ 233,300,000
Royalty Rate Assessed on Danish Earnings	20.00%

Major Customers (Details)	3 Months Ended
Major Customers (Details)	Mar. 31, 2014 customer	Mar. 31, 2013
Sales Revenue, Goods, Net [Member]
Concentration Risk [Line Items]
Number of customers being disclosed	1
Concentration Risk, Percentage	10.00%
Customer Concentration Risk [Member] \| Sales Revenue, Goods, Net [Member]
Concentration Risk [Line Items]
Number of customers being disclosed	5
Concentration Risk, Percentage	31.30%	25.30%
Credit Concentration Risk [Member] \| Accounts Receivable [Member]
Concentration Risk [Line Items]
Number of customers being disclosed	5
Concentration Risk, Percentage	30.40%	22.30%

Earnings Per Common Share (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Numerator [Abstract]
Net (loss) income attributable to Tempur Sealy International, Inc.	$ 27.4	$ 12.5
Denominator [Abstract]
Denominator for basic earnings per common share-weighted average shares (in shares)	60.7	60.0
Effect of dilutive securities [Abstract]
Employee stock-based compensation (in shares)	1.2	1.2
Denominator for diluted earnings per common share-adjusted weighted average shares (in shares)	61.9	61.2
Basic earnings per common share (in dollars per share)	$ 0.45	$ 0.21
Diluted earnings per common share (in dollars per share)	$ 0.44	$ 0.20
Shares excluded from diluted earnings per common share computation as anti-dilutive (in shares)	0.3	0.4

Business Segment Information (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014 segment	Mar. 31, 2013	Dec. 31, 2013
Segment Reporting [Abstract]
Number of business segments	3
Total assets and long-lived assets by segment:
Total Assets	$ 2,771.4		$ 2,729.9
Long-lived assets by segment	1,910.5		1,921.3
Income statement information by segment:
Net sales	701.9	390.1
Gross Profit	269.5	188.4
Operating (loss) income	62.4	44.5
(Loss) income before income taxes	39.2	15.1
Capital expenditures	7.8	5.6
United States [Member]
Total assets and long-lived assets by segment:
Long-lived assets by segment	1,637.7		1,647.0
Income statement information by segment:
Net sales	504.0	253.3
Non United States [Member]
Total assets and long-lived assets by segment:
Long-lived assets by segment	272.8		274.3
Income statement information by segment:
Net sales	197.9	136.8
Canada [Member]
Total assets and long-lived assets by segment:
Long-lived assets by segment	49.5		52.1
Income statement information by segment:
Net sales	48.7	15.0
Other International [Member]
Total assets and long-lived assets by segment:
Long-lived assets by segment	223.3		222.2
Income statement information by segment:
Net sales	149.2	121.8
North America [Member]
Segment Reporting Information [Line Items]
Operating expenses	17.7	29.3
Income statement information by segment:
Net sales	213.0	225.9
North America [Member] \| Bedding [Member]
Income statement information by segment:
Net sales	199.5	204.6
North America [Member] \| Other Products [Member]
Income statement information by segment:
Net sales	13.5	21.3
International [Member]
Income statement information by segment:
Net sales	125.7	117.5
International [Member] \| Bedding [Member]
Income statement information by segment:
Net sales	95.2	89.3
International [Member] \| Other Products [Member]
Income statement information by segment:
Net sales	30.5	28.2
Sealy [Member]
Income statement information by segment:
Net sales	363.2	46.7
Sealy [Member] \| Bedding [Member]
Income statement information by segment:
Net sales	341.3	44.7
Sealy [Member] \| Other Products [Member]
Income statement information by segment:
Net sales	21.9	2.0
Operating Segments [Member]
Total assets and long-lived assets by segment:
Long-lived assets by segment	1,910.5		1,921.3
Income statement information by segment:
Gross Profit	269.5	188.4
Operating (loss) income	62.4	44.5
(Loss) income before income taxes	39.2	15.1
Depreciation and amortization (including stock-based compensation amortization)	24.0	14.7
Intercompany royalties	0	0
Capital expenditures	7.8	5.6
Operating Segments [Member] \| North America [Member]
Total assets and long-lived assets by segment:
Total Assets	2,502.1		2,110.7
Long-lived assets by segment	391.1		393.1
Income statement information by segment:
Gross Profit	85.8	103.5
Operating (loss) income	11.1	15.9
(Loss) income before income taxes	(8.2)	(11.7)
Depreciation and amortization (including stock-based compensation amortization)	8.4	9.8
Intercompany royalties	1.5	1.3
Capital expenditures	2.0	3.9
Operating Segments [Member] \| International [Member]
Total assets and long-lived assets by segment:
Total Assets	509.2		477.7
Long-lived assets by segment	67.4		68.7
Income statement information by segment:
Gross Profit	75.1	74.2
Operating (loss) income	28.0	31.3
(Loss) income before income taxes	27.4	30.3
Depreciation and amortization (including stock-based compensation amortization)	3.2	3.1
Intercompany royalties	(1.5)	(1.3)
Capital expenditures	1.7	1.7
Operating Segments [Member] \| Sealy [Member]
Total assets and long-lived assets by segment:
Total Assets	1,949.8		1,956.6
Long-lived assets by segment	1,452.0		1,459.5
Income statement information by segment:
Gross Profit	108.6	10.7
Operating (loss) income	23.3	(2.7)
(Loss) income before income taxes	20.0	(3.5)
Depreciation and amortization (including stock-based compensation amortization)	12.4	1.8
Intercompany royalties	0	0
Capital expenditures	4.1	0
Intersegment Eliminations [Member]
Total assets and long-lived assets by segment:
Total Assets	(2,189.7)		(1,815.1)
Income statement information by segment:
Net sales	0	0
Intersegment Eliminations [Member] \| North America [Member] \| Bedding [Member]
Income statement information by segment:
Net sales	0.1	0.1
Intersegment Eliminations [Member] \| International [Member] \| Other Products [Member]
Income statement information by segment:
Net sales	0.1	0.1
Intersegment Eliminations [Member] \| Sealy [Member]
Income statement information by segment:
Net sales	4.3	0
Intersegment Eliminations [Member] \| Segment Reconciling Items [Member]
Income statement information by segment:
Net sales	$ (4.5)	$ (0.2)

Guarantor/Non-Guarantor Financial Information (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Ownership percentage by parent (in hundredths)	100.00%
Supplemental condensed consolidated statements of comprehensive income [Abstract]
Net sales	$ 701.9	$ 390.1
Cost of sales	432.4	201.7
Gross profit	269.5	188.4
Selling and marketing expenses	143.0	86.4
General, administrative and other expenses	70.3	58.7
Equity in earnings of unconsolidated affiliates	(1.7)	(0.2)
Royalty income, net of royalty expense	(4.5)	(1.0)
Operating (loss) income	62.4	44.5
Other expense, net:
Interest expense, net	22.2	27.9
Other (income) expense, net	1.0	1.5
Total other expense	23.2	29.4
Income before income taxes	39.2	15.1
Tax (expense) benefit	(11.5)	(2.6)
Net income before non-controlling interest	27.7	12.5
Less: Net income attributable to non-controlling interest	0.3	0
Net (loss) income attributable to Tempur Sealy International, Inc.	27.4	12.5
Comprehensive income	29.5	1.8
Current Assets:
Cash and cash equivalents	79.7	91.5
Accounts receivable, net	368.4		349.2
Inventories, net	222.7		199.2
Prepaid expenses and other current assets	59.4		53.7
Deferred income taxes	43.0		44.4
Total Current Assets	773.2		727.5
Property, plant and equipment, net	402.4		411.6
Goodwill	764.4		759.6
Other intangible assets, net	743.7		750.1
Deferred tax asset	10.8		10.9
Other non-current assets	76.9		70.2
Total Assets	2,771.4		2,729.9
Current Liabilities:
Accounts payable	200.8		191.2
Accrued expenses and other current liabilities	195.4		208.4
Deferred income taxes	0.9		0.8
Income taxes payable	3.8		1.5
Current portion of long-term debt	45.6		39.6
Total Current Liabilities	446.5		441.5
Long-term debt	1,799.7		1,796.9
Deferred income taxes	279.9		286.1
Other non-current liabilities	82.0		75.3
Total Liabilities	2,608.1		2,599.8
Total Stockholders' Equity	151.5		118.6
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	2,771.4		2,729.9
Supplemental condensed consolidated statements of cash flows [Abstract]
Net cash (used in) provided by operating activities	(1.6)	5.2
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(7.8)	(5.6)
Acquisition of businesses, net of cash acquired	0	(1,265.5)
Other	(0.8)	0.1
Net cash used in investing activities	(8.6)	(1,271.0)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	74.5	1,525.0
Repayments of 2012 Credit Agreement	(66.5)	(24.1)
Proceeds from issuance of Senior Notes	0	375.0
Proceeds from 2011 Credit Agreement	0	46.5
Repayments of 2011 Credit Agreement	0	(696.5)
Payment of deferred financing costs	0	(51.5)
Proceeds from issuance of common stock	1.7	4.2
Excess tax benefit from stock based compensation	0.9	2.5
Treasury stock repurchased	(2.2)	0
Other	0.1	(0.3)
Net cash provided by (used in) financing activities	8.5	1,180.8
Net effect of exchange rate changes on cash and cash equivalents	0.4	(2.8)
Increase (decrease) in cash and cash equivalents	(1.3)	(87.8)
CASH AND CASH EQUIVALENTS, beginning of period	81.0	179.3
CASH AND CASH EQUIVALENTS, end of period	79.7	91.5
Tempur-Sealy International, Inc. (Ultimate Parent) [Member]
Supplemental condensed consolidated statements of comprehensive income [Abstract]
Net sales	0	0
Cost of sales	0	0
Gross profit	0	0
Selling and marketing expenses	0.5	0.7
General, administrative and other expenses	4.2	3.7
Equity in earnings of unconsolidated affiliates	0	0
Royalty income, net of royalty expense	0	0
Operating (loss) income	(4.7)	(4.4)
Other expense, net:
Third party interest expense, net	6.8	4.2
Intercompany interest expense (income), net	8.0	8.4
Interest expense, net	14.8	12.6
Other (income) expense, net	0	0
Total other expense	14.8	12.6
Income from equity investees	40.6	24.8
Income before income taxes	21.1	7.8
Tax (expense) benefit	6.6	4.7
Net income before non-controlling interest	27.7	12.5
Less: Net income attributable to non-controlling interest	0.3	0
Net (loss) income attributable to Tempur Sealy International, Inc.	27.4	12.5
Comprehensive income	29.2	1.8
Current Assets:
Cash and cash equivalents	0	0.1
Accounts receivable, net	0		0
Inventories, net	0		0
Income taxes payable	126.5		118.4
Prepaid expenses and other current assets	1.1		0
Deferred income taxes	9.4		10.0
Total Current Assets	137.0		128.4
Property, plant and equipment, net	0		0
Goodwill	0		0
Other intangible assets, net	0		0
Deferred tax asset	0		0
Other non-current assets	7.2		7.6
Net investment in subsidiaries	1,765.0		756.0
Due from affiliates	74.5		1,299.9
Total Assets	1,983.7		2,191.9
Current Liabilities:
Accounts payable	0		0
Accrued expenses and other current liabilities	7.8		1.4
Deferred income taxes	0		0
Income taxes payable	0		0
Current portion of long-term debt	0		0
Total Current Liabilities	7.8		1.4
Long-term debt	375.0		375.0
Deferred income taxes	0		0
Other non-current liabilities	0		0
Due to affiliates	1,437.6		1,685.4
Total Liabilities	1,820.4		2,061.8
Redeemable non-controlling interest	11.8		11.5
Total Stockholders' Equity	151.5		118.6
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	1,983.7		2,191.9
Supplemental condensed consolidated statements of cash flows [Abstract]
Net cash (used in) provided by operating activities	(10.5)	(17.9)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	0	0
Acquisition of businesses, net of cash acquired	0	0
Other	0	0
Net cash used in investing activities	0	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	0	0
Repayments of 2012 Credit Agreement	0	0
Proceeds from issuance of Senior Notes	0	375.0
Proceeds from 2011 Credit Agreement		0
Repayments of 2011 Credit Agreement		0
Net activity in investment in and advances from (to) subsidiaries and affiliates	10.1	(801.6)
Payment of deferred financing costs	0	(8.1)
Proceeds from issuance of common stock	1.7	4.2
Excess tax benefit from stock based compensation	0.9	2.5
Treasury stock repurchased	(2.2)	446.0
Other	0	0
Net cash provided by (used in) financing activities	10.5	18.0
Net effect of exchange rate changes on cash and cash equivalents	0	0
Increase (decrease) in cash and cash equivalents	0	0.1
CASH AND CASH EQUIVALENTS, beginning of period	0	0
CASH AND CASH EQUIVALENTS, end of period	0	0.1
Combined Guarantor Subsidiaries [Member]
Supplemental condensed consolidated statements of comprehensive income [Abstract]
Net sales	508.3	259.9
Cost of sales	340.0	150.7
Gross profit	168.3	109.2
Selling and marketing expenses	95.5	52.6
General, administrative and other expenses	48.8	40.3
Equity in earnings of unconsolidated affiliates	0	0
Royalty income, net of royalty expense	(4.5)	(1.0)
Operating (loss) income	28.5	17.3
Other expense, net:
Third party interest expense, net	15.1	23.4
Intercompany interest expense (income), net	(8.6)	(8.4)
Interest expense, net	6.5	15.0
Other (income) expense, net	(0.2)	0.4
Total other expense	6.3	15.4
Income from equity investees	28.2	23.1
Income before income taxes	50.4	25.0
Tax (expense) benefit	(9.8)	(0.2)
Net income before non-controlling interest	40.6	24.8
Less: Net income attributable to non-controlling interest	0.3	0
Net (loss) income attributable to Tempur Sealy International, Inc.	40.3	24.8
Comprehensive income	40.6	21.7
Current Assets:
Cash and cash equivalents	33.0	28.7
Accounts receivable, net	219.8		192.6
Inventories, net	168.0		147.5
Income taxes payable	0		0
Prepaid expenses and other current assets	27.5		26.3
Deferred income taxes	28.8		29.3
Total Current Assets	477.1		426.6
Property, plant and equipment, net	328.5		335.9
Goodwill	578.6		577.2
Other intangible assets, net	621.2		624.6
Deferred tax asset	0		0
Other non-current assets	51.7		47.0
Net investment in subsidiaries	0		0
Due from affiliates	2,036.3		2,306.5
Total Assets	4,093.4		4,317.8
Current Liabilities:
Accounts payable	155.0		140.5
Accrued expenses and other current liabilities	129.1		144.2
Deferred income taxes	0		0
Income taxes payable	126.0		115.2
Current portion of long-term debt	42.8		36.6
Total Current Liabilities	452.9		436.5
Long-term debt	1,424.7		1,421.9
Deferred income taxes	248.1		252.8
Other non-current liabilities	73.7		69.1
Due to affiliates	129.1		1,381.5
Total Liabilities	2,328.5		3,561.8
Redeemable non-controlling interest	11.8		11.5
Total Stockholders' Equity	1,753.1		744.5
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	4,093.4		4,317.8
Supplemental condensed consolidated statements of cash flows [Abstract]
Net cash (used in) provided by operating activities	(14.8)	68.1
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(5.5)	34.3
Acquisition of businesses, net of cash acquired	0	(1,265.5)
Other	0.9	54.1
Net cash used in investing activities	(4.6)	(1,177.1)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	74.5	1,525.0
Repayments of 2012 Credit Agreement	(66.5)	(24.1)
Proceeds from issuance of Senior Notes	0	0
Proceeds from 2011 Credit Agreement		46.5
Repayments of 2011 Credit Agreement		(696.5)
Net activity in investment in and advances from (to) subsidiaries and affiliates	13.9	760.5
Payment of deferred financing costs	0	(43.4)
Proceeds from issuance of common stock	0	0
Excess tax benefit from stock based compensation	0	0
Treasury stock repurchased	0	(446.0)
Other	(0.4)	(4.7)
Net cash provided by (used in) financing activities	21.5	1,117.3
Net effect of exchange rate changes on cash and cash equivalents	0	1.2
Increase (decrease) in cash and cash equivalents	2.1	9.5
CASH AND CASH EQUIVALENTS, beginning of period	30.9	19.2
CASH AND CASH EQUIVALENTS, end of period	33.0	28.7
Combined Non-Guarantor Subsidiaries [Member]
Supplemental condensed consolidated statements of comprehensive income [Abstract]
Net sales	197.9	136.8
Cost of sales	96.7	57.6
Gross profit	101.2	79.2
Selling and marketing expenses	47.0	33.1
General, administrative and other expenses	17.3	14.7
Equity in earnings of unconsolidated affiliates	(1.7)	(0.2)
Royalty income, net of royalty expense	0	0
Operating (loss) income	38.6	31.6
Other expense, net:
Third party interest expense, net	0.3	0.3
Intercompany interest expense (income), net	0.6	0
Interest expense, net	0.9	0.3
Other (income) expense, net	1.2	1.1
Total other expense	2.1	1.4
Income from equity investees	0	0
Income before income taxes	36.5	30.2
Tax (expense) benefit	(8.3)	(7.1)
Net income before non-controlling interest	28.2	23.1
Less: Net income attributable to non-controlling interest	0	0
Net (loss) income attributable to Tempur Sealy International, Inc.	28.2	23.1
Comprehensive income	29.8	15.5
Current Assets:
Cash and cash equivalents	46.7	62.7
Accounts receivable, net	148.6		156.6
Inventories, net	54.7		51.7
Income taxes payable	0		0
Prepaid expenses and other current assets	30.8		27.4
Deferred income taxes	4.8		5.1
Total Current Assets	285.6		290.9
Property, plant and equipment, net	73.9		75.7
Goodwill	185.8		182.4
Other intangible assets, net	122.5		125.5
Deferred tax asset	10.8		10.9
Other non-current assets	18.0		15.6
Net investment in subsidiaries	0		0
Due from affiliates	1.4		0.9
Total Assets	698.0		701.9
Current Liabilities:
Accounts payable	45.8		50.7
Accrued expenses and other current liabilities	58.5		62.8
Deferred income taxes	0.9		0.8
Income taxes payable	4.3		4.7
Current portion of long-term debt	2.8		3.0
Total Current Liabilities	112.3		122.0
Long-term debt	0		0
Deferred income taxes	31.8		33.3
Other non-current liabilities	8.3		6.2
Due to affiliates	916.9		940.5
Total Liabilities	1,069.3		1,102.0
Redeemable non-controlling interest	0		0
Total Stockholders' Equity	(371.3)		(400.1)
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	698.0		701.9
Supplemental condensed consolidated statements of cash flows [Abstract]
Net cash (used in) provided by operating activities	23.7	(45.0)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(2.3)	(39.9)
Acquisition of businesses, net of cash acquired	0	0
Other	(1.7)	(54.0)
Net cash used in investing activities	(4.0)	(93.9)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	0	0
Repayments of 2012 Credit Agreement	0	0
Proceeds from issuance of Senior Notes	0	0
Proceeds from 2011 Credit Agreement		0
Repayments of 2011 Credit Agreement		0
Net activity in investment in and advances from (to) subsidiaries and affiliates	(24.0)	41.1
Payment of deferred financing costs	0	0
Proceeds from issuance of common stock	0	0
Excess tax benefit from stock based compensation	0	0
Treasury stock repurchased	0	0
Other	0.5	4.4
Net cash provided by (used in) financing activities	(23.5)	45.5
Net effect of exchange rate changes on cash and cash equivalents	0.4	(4.0)
Increase (decrease) in cash and cash equivalents	(3.4)	(97.4)
CASH AND CASH EQUIVALENTS, beginning of period	50.1	160.1
CASH AND CASH EQUIVALENTS, end of period	46.7	62.7
Eliminations [Member]
Supplemental condensed consolidated statements of comprehensive income [Abstract]
Net sales	(4.3)	(6.6)
Cost of sales	(4.3)	(6.6)
Gross profit	0	0
Selling and marketing expenses	0	0
General, administrative and other expenses	0	0
Equity in earnings of unconsolidated affiliates	0	0
Royalty income, net of royalty expense	0	0
Operating (loss) income	0	0
Other expense, net:
Third party interest expense, net	0	0
Intercompany interest expense (income), net	0	0
Interest expense, net	0	0
Other (income) expense, net	0	0
Total other expense	0	0
Income from equity investees	(68.8)	(47.9)
Income before income taxes	(68.8)	(47.9)
Tax (expense) benefit	0	0
Net income before non-controlling interest	(68.8)	(47.9)
Less: Net income attributable to non-controlling interest	(0.3)	0
Net (loss) income attributable to Tempur Sealy International, Inc.	(68.5)	(47.9)
Comprehensive income	(70.4)	(37.2)
Current Assets:
Cash and cash equivalents	0	0
Accounts receivable, net	0		0
Inventories, net	0		0
Income taxes payable	(126.5)		(118.4)
Prepaid expenses and other current assets	0		0
Deferred income taxes	0		0
Total Current Assets	(126.5)		(118.4)
Property, plant and equipment, net	0		0
Goodwill	0		0
Other intangible assets, net	0		0
Deferred tax asset	0		0
Other non-current assets	0		0
Net investment in subsidiaries	(1,765.0)		(756.0)
Due from affiliates	(2,112.2)		(3,607.3)
Total Assets	(4,003.7)		(4,481.7)
Current Liabilities:
Accounts payable	0		0
Accrued expenses and other current liabilities	0		0
Deferred income taxes	0		0
Income taxes payable	(126.5)		(118.4)
Current portion of long-term debt	0		0
Total Current Liabilities	(126.5)		(118.4)
Long-term debt	0		0
Deferred income taxes	0		0
Other non-current liabilities	0		0
Due to affiliates	(2,483.6)		(4,007.4)
Total Liabilities	(2,610.1)		(4,125.8)
Redeemable non-controlling interest	(11.8)		(11.5)
Total Stockholders' Equity	(1,381.8)		(344.4)
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	(4,003.7)		(4,481.7)
Supplemental condensed consolidated statements of cash flows [Abstract]
Net cash (used in) provided by operating activities	0	0
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	0	0
Acquisition of businesses, net of cash acquired	0	0
Other	0	0
Net cash used in investing activities	0	0
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	0	0
Repayments of 2012 Credit Agreement	0	0
Proceeds from issuance of Senior Notes	0	0
Proceeds from 2011 Credit Agreement		0
Repayments of 2011 Credit Agreement		0
Net activity in investment in and advances from (to) subsidiaries and affiliates	0	0
Payment of deferred financing costs	0	0
Proceeds from issuance of common stock	0	0
Excess tax benefit from stock based compensation	0	0
Treasury stock repurchased	0	0
Other	0	0
Net cash provided by (used in) financing activities	0	0
Net effect of exchange rate changes on cash and cash equivalents	0	0
Increase (decrease) in cash and cash equivalents	0	0
CASH AND CASH EQUIVALENTS, beginning of period	0	0
CASH AND CASH EQUIVALENTS, end of period	0	0
Consolidated [Member]
Supplemental condensed consolidated statements of comprehensive income [Abstract]
Net sales	701.9	390.1
Cost of sales	432.4	201.7
Gross profit	269.5	188.4
Selling and marketing expenses	143.0	86.4
General, administrative and other expenses	70.3	58.7
Equity in earnings of unconsolidated affiliates	(1.7)	(0.2)
Royalty income, net of royalty expense	(4.5)	(1.0)
Operating (loss) income	62.4	44.5
Other expense, net:
Third party interest expense, net	22.2	27.9
Intercompany interest expense (income), net	0	0
Interest expense, net	22.2	27.9
Other (income) expense, net	1.0	1.5
Total other expense	23.2	29.4
Income from equity investees	0	0
Income before income taxes	39.2	15.1
Tax (expense) benefit	(11.5)	(2.6)
Net income before non-controlling interest	27.7	12.5
Less: Net income attributable to non-controlling interest	0.3	0
Net (loss) income attributable to Tempur Sealy International, Inc.	27.4	12.5
Comprehensive income	29.2	1.8
Current Assets:
Cash and cash equivalents	79.7	91.5
Accounts receivable, net	368.4		349.2
Inventories, net	222.7		199.2
Income taxes payable	0		0
Prepaid expenses and other current assets	59.4		53.7
Deferred income taxes	43.0		44.4
Total Current Assets	773.2		727.5
Property, plant and equipment, net	402.4		411.6
Goodwill	764.4		759.6
Other intangible assets, net	743.7		750.1
Deferred tax asset	10.8		10.9
Other non-current assets	76.9		70.2
Net investment in subsidiaries	0		0
Due from affiliates	0		0
Total Assets	2,771.4		2,729.9
Current Liabilities:
Accounts payable	200.8		191.2
Accrued expenses and other current liabilities	195.4		208.4
Deferred income taxes	0.9		0.8
Income taxes payable	3.8		1.5
Current portion of long-term debt	45.6		39.6
Total Current Liabilities	446.5		441.5
Long-term debt	1,799.7		1,796.9
Deferred income taxes	279.9		286.1
Other non-current liabilities	82.0		75.3
Due to affiliates	0		0
Total Liabilities	2,608.1		2,599.8
Redeemable non-controlling interest	11.8		11.5
Total Stockholders' Equity	151.5		118.6
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	2,771.4		2,729.9
Supplemental condensed consolidated statements of cash flows [Abstract]
Net cash (used in) provided by operating activities	(1.6)	5.2
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(7.8)	(5.6)
Acquisition of businesses, net of cash acquired	0	(1,265.5)
Other	(0.8)	0.1
Net cash used in investing activities	(8.6)	(1,271.0)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	74.5	1,525.0
Repayments of 2012 Credit Agreement	(66.5)	(24.1)
Proceeds from issuance of Senior Notes	0	375.0
Proceeds from 2011 Credit Agreement		46.5
Repayments of 2011 Credit Agreement		(696.5)
Net activity in investment in and advances from (to) subsidiaries and affiliates	0	0
Payment of deferred financing costs	0	(51.5)
Proceeds from issuance of common stock	1.7	4.2
Excess tax benefit from stock based compensation	0.9	2.5
Treasury stock repurchased	(2.2)	0
Other	0.1	(0.3)
Net cash provided by (used in) financing activities	8.5	1,180.8
Net effect of exchange rate changes on cash and cash equivalents	0.4	(2.8)
Increase (decrease) in cash and cash equivalents	(1.3)	(87.8)
CASH AND CASH EQUIVALENTS, beginning of period	81.0	179.3
CASH AND CASH EQUIVALENTS, end of period	$ 79.7	$ 91.5

Defined Benefit Plans (Details) (USD $) In Millions, unless otherwise specified	Mar. 31, 2014
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract]
Liability related to the sponsored defined benefit plan	$ 6.8

Derivatives Not Designated as Hedging Instruments

Location of Gain/(Loss) Recognized in Income on Derivative

Amount of Gain/(Loss) Recognized in Income on Derivative

Foreign exchange forward contracts

Other income (expense), net