Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2015	Feb. 09, 2016	Jun. 30, 2015
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 Public Float			$ 3,621,804,954
Entity Common Stock, Shares Outstanding		62,424,870
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	FY
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement [Abstract]
Net sales	$ 767.3	$ 880.0	$ 764.4	$ 739.5	$ 745.5	$ 827.4	$ 715.0	$ 701.9	$ 3,151.2	$ 2,989.8	$ 2,464.3
Cost of sales									1,902.3	1,839.4	1,449.4
Gross profit	313.1	359.6	297.5	278.7	294.1	318.5	268.3	269.5	1,248.9	1,150.4	1,014.9
Selling and marketing expenses									648.0	619.9	522.9
General, administrative and other expenses									322.0	280.6	266.3
Equity income in earnings of unconsolidated affiliates									(11.9)	(8.3)	(4.4)
Royalty income, net of royalty expense									(18.3)	(18.1)	(13.7)
Operating (loss) income	91.8	110.9	52.0	54.4	76.5	87.1	50.3	62.4	309.1	276.3	243.8
Other expense, net:
Interest expense, net									96.1	91.9	110.8
Loss on disposal, net									0.0	23.2	0.0
Other expense (income), net									12.9	(13.7)	5.0
Total other expense									109.0	101.4	115.8
Income before income taxes									200.1	174.9	128.0
Income tax provision									(125.4)	(64.9)	(49.1)
Net income before non-controlling interest									74.7	110.0	78.9
Less: net income attributable to non-controlling interest									1.2	1.1	0.3
Net income attributable to Tempur Sealy International, Inc.	$ (11.3)	$ 40.2	$ 21.2	$ 23.4	$ 46.6	$ 37.1	$ (2.2)	$ 27.4	$ 73.5	$ 108.9	$ 78.6
Earnings per common share:
Basic (in dollars per share)	$ (0.18)	$ 0.65	$ 0.35	$ 0.38	$ 0.77	$ 0.61	$ (0.04)	$ 0.45	$ 1.19	$ 1.79	$ 1.30
Diluted (in dollars per share)	$ (0.18)	$ 0.64	$ 0.34	$ 0.38	$ 0.75	$ 0.60	$ (0.04)	$ 0.44	$ 1.17	$ 1.75	$ 1.28
Weighted average common shares outstanding:
Basic (in shares)									61.7	60.8	60.3
Diluted (in shares)									62.6	62.1	61.6

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income before non-controlling interest	$ 74.7	$ 110.0	$ 78.9
Other comprehensive (loss) income, net of tax:
Foreign currency translation adjustments, net of tax	(61.4)	(38.4)	(10.6)
Net change in unrecognized gain on interest rate swap, net of tax	0.7	0.7	1.3
Net change in pension and other post retirement benefits, net of tax	1.0	(5.6)	3.2
Unrealized loss on cash flow hedging derivatives, net of tax	5.3	1.3	0.0
Other comprehensive (loss), net of tax	(54.4)	(42.0)	(6.1)
Comprehensive income	20.3	68.0	72.8
Less: Comprehensive income attributable to non-controlling interest	1.2	1.1	0.3
Comprehensive income attributable to Tempur Sealy International, Inc.	$ 19.1	$ 66.9	$ 72.5

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Current Assets:
Cash and cash equivalents	$ 153.9	$ 62.5
Accounts receivable, net	379.4	385.8
Inventories	199.2	217.2
Prepaid expenses and other current assets	76.6	56.5
Total Current Assets	809.1	722.0
Property, plant and equipment, net	361.7	355.6
Goodwill	709.4	736.5
Other intangible assets, net	695.4	727.1
Deferred income taxes	12.2	10.7
Other non-current assets	67.7	30.8
Total Assets	2,655.5	2,582.7
Current Liabilities:
Accounts payable	266.3	226.4
Accrued expenses and other current liabilities	254.0	233.3
Income taxes payable	11.2	12.0
Current portion of long-term debt	181.5	66.4
Total Current Liabilities	713.0	538.1
Long-term debt, net	1,273.3	1,498.3
Deferred income taxes	195.4	216.7
Other non-current liabilities	171.2	114.3
Total Liabilities	2,352.9	2,367.4
Redeemable non-controlling interest	12.4	12.6
Stockholders' Equity
Common stock, $0.01 par value, 300.0 shares authorized; 99.2 million shares issued as of December 31, 2015 and 2014	1.0	1.0
Additional paid in capital	463.4	411.9
Retained earnings	1,110.3	1,036.8
Accumulated other comprehensive loss	(110.1)	(55.7)
Treasury stock at cost; 36.8 and 38.3 shares as of December 31, 2015 and 2014, respectively	(1,174.4)	(1,191.3)
Total Stockholders’ Equity	290.2	202.7
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	$ 2,655.5	$ 2,582.7

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Stockholders' Equity:
Common stock, par value per share (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	99,200,000	99,200,000
Treasury stock, shares (in shares)	36,800,000	38,300,000

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Redeemable non-controlling interest	Common Stock	Treasury Stock	Additional Paid in Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income
Balance at beginning of period at Dec. 31, 2012		$ 0.0
Balance at beginning of period (in shares) at Dec. 31, 2012			99.2	39.5
Balance at beginning of period at Dec. 31, 2012	$ 22.3		$ 1.0	$ (1,199.4)	$ 379.0	$ 849.3	$ (7.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Acquisition of redeemable non-controlling interest		11.2
Net income	78.6					78.6
Net income attributable to non-controlling interest	0.3	0.3
Adjustment to pension liability, net of tax	3.2						3.2
Derivative instruments accounted for as hedges, net of tax	1.3						1.3
Foreign currency adjustments	(10.6)						(10.6)
Exercise of stock options (in shares)				(0.6)
Exercise of stock options	8.7			$ 6.9	1.8
Issuances of PRSUs, RSUs and DSUs (shares)				(0.3)
Issuances of PRSUs, RSUs, and DSUs	0.0			$ 6.4	(6.4)
Tax adjustments related to stock compensation	5.2				5.2
Treasury stock repurchased	(7.0)			$ (7.0)
Amortization of unearned stock-based compensation	16.9				16.9
Balance at end of period at Dec. 31, 2013		11.5
Balance at end of period (in shares) at Dec. 31, 2013			99.2	38.6
Balance at end of period at Dec. 31, 2013	118.6		$ 1.0	$ (1,193.1)	396.5	927.9	(13.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	108.9					108.9
Net income attributable to non-controlling interest	1.1	1.1
Adjustment to pension liability, net of tax	(5.6)						(5.6)
Derivative instruments accounted for as hedges, net of tax	2.0						2.0
Foreign currency adjustments	(38.4)						(38.4)
Exercise of stock options (in shares)				(0.2)
Exercise of stock options	4.3			$ 2.5	1.8
Issuances of PRSUs, RSUs and DSUs (shares)				(0.1)
Issuances of PRSUs, RSUs, and DSUs	0.0			$ 1.5	(1.5)
Tax adjustments related to stock compensation	1.7				1.7
Treasury stock repurchased	(2.2)			$ (2.2)
Amortization of unearned stock-based compensation	13.4				13.4
Balance at end of period at Dec. 31, 2014	12.6	12.6
Balance at end of period (in shares) at Dec. 31, 2014			99.2	38.3
Balance at end of period at Dec. 31, 2014	202.7		$ 1.0	$ (1,191.3)	411.9	1,036.8	(55.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	73.5					73.5
Net income attributable to non-controlling interest	1.2	1.2
Distributions paid to non-controlling interest		(1.4)
Adjustment to pension liability, net of tax	1.0						1.0
Derivative instruments accounted for as hedges, net of tax	6.0						6.0
Foreign currency adjustments	(61.4)						(61.4)
Exercise of stock options (in shares)				(1.3)
Exercise of stock options	20.4			$ 16.5	3.9
Treasury shares issed (in shares)				(0.1)
Treasury stock issued to CEO	5.0			$ 0.9	4.1
Issuances of PRSUs, RSUs and DSUs (shares)				(0.1)
Issuances of PRSUs, RSUs, and DSUs	0.0			$ 0.8	(0.8)
Tax adjustments related to stock compensation	21.8				21.8
Treasury stock repurchased	(1.3)			$ (1.3)
Amortization of unearned stock-based compensation	22.5				22.5
Balance at end of period at Dec. 31, 2015	12.4	$ 12.4
Balance at end of period (in shares) at Dec. 31, 2015			99.2	36.8
Balance at end of period at Dec. 31, 2015	$ 290.2		$ 1.0	$ (1,174.4)	$ 463.4	$ 1,110.3	$ (110.1)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Stockholders' Equity [Abstract]
Adjustment to pension liability, tax	$ 0.5	$ (3.4)	$ (2.0)
Derivative instruments accounted for as hedges, tax	$ (2.4)	$ (0.9)	$ (0.8)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income before non-controlling interest	$ 74.7	$ 110.0	$ 78.9
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	71.4	76.3	74.6
Amortization of stock-based compensation	22.5	13.4	16.9
Amortization of deferred financing costs	20.3	12.5	7.4
Write-off of deferred financing costs	0.0	0.0	4.7
Bad debt expense	6.9	4.9	1.3
Deferred income taxes	(21.3)	(27.2)	(49.1)
Dividends received from unconsolidated affiliates	9.1	2.0	2.5
Equity income in earnings of unconsolidated affiliates	(11.9)	(8.3)	(4.4)
Non-cash interest expense on 8.0% Sealy Notes	6.3	5.1	3.7
Loss on sale of assets	1.5	3.9	0.8
Loss on disposal of business	0.0	23.2	0.0
Foreign currency transaction adjustments and other	5.5	1.8	0.1
Changes in operating assets and liabilities, net of effect of business acquisitions:
Accounts receivable	(35.3)	(58.8)	(30.1)
Inventories	10.7	(34.0)	(34.5)
Prepaid expenses and other current assets	(58.7)	(14.9)	27.9
Accounts payable	46.1	47.8	28.1
Accrued expenses and other	90.3	56.7	4.4
Income taxes	(3.9)	10.8	(34.7)
Net cash provided by operating activities	234.2	225.2	98.5
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of businesses, net of cash acquired	0.0	(8.5)	(1,172.9)
Proceeds from disposition of business	7.2	43.5	0.0
Purchases of property, plant and equipment	(65.9)	(47.5)	(40.0)
Other	(1.0)	2.1	(0.1)
Net cash used in investing activities	(59.7)	(10.4)	(1,213.0)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 credit agreement	413.5	271.5	2,992.6
Repayments of 2012 credit agreement	(988.3)	(510.9)	(1,658.3)
Proceeds from issuance of Senior Notes	450.0	0.0	375.0
Proceeds from 2011 credit facility	0.0	0.0	46.5
Repayments of 2011 credit facility	0.0	0.0	(696.5)
Proceeds from exercise of stock options	20.4	4.3	8.7
Excess tax benefit from stock based compensation	21.8	1.7	5.4
Proceeds from issuance of treasury stock by CEO	5.0	0.0	0.0
Treasury stock repurchased	(1.3)	(2.2)	(7.0)
Payments of deferred financing costs	(8.0)	(3.1)	(52.0)
Other	(3.8)	0.6	(1.0)
Net cash (used in) provided by financing activities	(90.7)	(238.1)	1,013.4
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	7.6	4.8	2.8
Increase (decrease) in cash and cash equivalents	91.4	(18.5)	(98.3)
CASH AND CASH EQUIVALENTS, beginning of period	62.5	81.0	179.3
CASH AND CASH EQUIVALENTS, end of period	153.9	62.5	81.0
Cash paid during the period for:
Interest	59.9	73.5	92.1
Income taxes, net of refunds	$ 94.9	$ 56.3	$ 96.4

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2015

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® and Stearns & Foster® brands, technology and trademarks to other manufacturers. The Company sells its products through two sales channels: Retail 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 under the Sealy®, Sealy Posturepedic®andStearns & Foster® brands. The Company’s acquisition of Sealy (“Sealy Acquisition”) is more fully described in Note 3, “Acquisitions and Divestitures”. The results of operations for Sealy are reported within the Company’s North America and International reportable segments and include results for the years ended December 31, 2015, 2014 and for the period of March 18, 2013 to December 31, 2013.

The Company’s Consolidated Financial Statements include the results of Comfort Revolution, LLC ("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 Consolidated Financial Statements. Refer to Note 16, “Redeemable Non-controlling Interest” for further discussion.

The Company also has ownership interests in a group of Asia-Pacific joint ventures 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".

(b) Basis of Consolidation. The accompanying financial statements include the accounts of Tempur Sealy International, its 100.0% owned subsidiary companies and Comfort Revolution. Intercompany balances and transactions have been eliminated. The equity method of accounting is used for joint ventures and investments in associated companies over which the Company has significant influence, but does not have effective control and consolidation is not otherwise required under the Financial Accounting Standards Board’s (“FASB”) authoritative guidance surrounding the consolidation of VIEs. The Company’s equity in the net income and losses of these investments is reported in equity income in earnings of unconsolidated affiliates in the accompanying Consolidated Statements of Income.

(c) Use of Estimates. The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company’s results are affected by economic, political, legislative, regulatory and legal actions. Economic conditions, such as recessionary trends, inflation, interest and monetary exchange rates, government fiscal policies and changes in the prices of raw materials, can have a significant effect on operations.

(d) Fair Value Measurements. The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk.

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.

(e) Foreign Currency. Assets and liabilities of non-U.S. subsidiaries, whose functional currency is the local currency, are translated into U.S. dollars at period-end exchange rates. Income and expense items are translated at the average rates of exchange prevailing during the period. The adjustments resulting from translating the financial statements of foreign subsidiaries are included in accumulated other comprehensive loss (“AOCL”), a component of stockholders’ equity, and included in net earnings only upon sale or liquidation of the underlying foreign subsidiary or affiliated company. Foreign currency transaction gains and losses are recognized in net earnings based on differences between foreign exchanges rates on the transaction date and on the settlement date.

(f) Derivative Financial Instruments. The Company records derivative financial instruments on the consolidated balance sheets as either an asset or liability measured at its fair value. Changes in a derivative's fair value (i.e., unrealized gains or losses) are recorded each period in earnings or other comprehensive loss ("OCL"), depending on whether the derivative is designated and is effective as a hedged transaction, and on the type of hedging relationship.

For derivative financial instruments that are designated as a hedge, unrealized gains and losses related to the effective portion are either recognized in income immediately to offset the realized gain or loss on the hedged item, or are deferred and reported as a component of AOCL in stockholders' equity and subsequently recognized in net income when the hedged item affects net income. The change in fair value of the ineffective portion of a derivative financial instrument is recognized in net income immediately. For derivative instruments that are not designated as hedges, the gain or loss related to the change in fair value is also recorded to net income immediately.

Derivative financial instruments are used in the normal course of business to manage interest rate and foreign currency exchange risks. In order to manage risks related to borrowings under its credit facilities, the Company entered into an interest rate swap agreement. The Company designated this interest rate swap as a cash flow hedge of floating rate borrowings. The Company manages the risk associated with fluctuations in foreign currencies related to intercompany and third party inventory purchases denominated in foreign currencies through foreign exchange forward contracts designated as cash flow hedges. The Company does not apply hedge accounting to the foreign currency forward contracts used to offset currency-related changes in foreign currency denominated assets and liabilities. These contracts are adjusted to their fair value through earnings. Refer to Note 8, “Derivative Financial Instruments” for further discussion.

(g) Cash and Cash Equivalents. Cash and cash equivalents consist of all highly liquid investments with initial maturities of three months or less.

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



	December 31,
(in millions)	2015		2014
Finished goods	$	126.7	$	134.0
Work-in-process	14.0		11.4
Raw materials and supplies	58.5		71.8
	$	199.2	$	217.2

(i) Property, Plant and Equipment. Property, plant and equipment are carried at cost at acquisition date and are depreciated using the straight-line method over their estimated useful lives as follows:



	Estimated Useful Lives (in years)
Buildings	25-30
Computer equipment and software	3-5
Leasehold improvements	4-7
Machinery and equipment	3-7
Office furniture and fixtures	5-7

The Company records depreciation and amortization in cost of sales, for long-lived assets used in the manufacturing process, and within each line item of operating expenses for all other long-lived assets. Leasehold improvements are amortized over the shorter of the life of the lease or seven years.

Property, plant and equipment, net consisted of the following:



	December 31,
(in millions)	2015			2014
Machinery and equipment	$	257.0		$	243.5
Land and buildings	243.7			247.1
Computer equipment and software	78.2			69.2
Furniture and fixtures	52.3			54.9
Construction in progress	57.4			39.4
Total property, plant, and equipment	$	688.6		$	654.1
Accumulated depreciation	(326.9		)	(298.5		)
Total property, plant, and equipment, net	$	361.7		$	355.6

Depreciation expense, which includes depreciation expense for capital lease assets, for the Company was $53.5 million, $57.7 million and $59.4 million for the years ended December 31, 2015, 2014 and 2013, respectively.

(j) Long-Lived Assets. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets is assessed by a comparison of the carrying amount of the asset to the estimated future undiscounted net cash flows expected to be generated by the asset or group of assets. If estimated future undiscounted net cash flows are less than the carrying amount of the asset or group of assets, the asset is considered impaired and an expense is recorded in an amount required to reduce the carrying amount of the asset to its then fair value. Fair value generally is determined from estimated discounted future net cash flows (for assets held for use) or net realizable value (for assets held for sale). The Company did not identify any indicators of impairment for the years ended December 31, 2015, 2014, and 2013.

(k) Goodwill and Other Intangible Assets. Intangible assets with finite useful lives are amortized over their respective estimated useful lives to their estimated residual values and reviewed for impairment whenever events or changes in circumstances indicate impairment may have occurred. The Company performs an annual impairment test on goodwill and indefinite lived intangible assets on October 1 of each year and whenever events or circumstances make it more likely than not that impairment may have occurred. The Company reviewed goodwill for impairment based on its identified reporting units. The Company identified three reporting units for purposes of evaluating goodwill impairment: Tempur Sealy U.S. and Tempur Sealy Canada reporting units within the North America segment and one reporting unit comprising the International segment. In conducting the impairment test for these reporting units the fair value of each of the Company’s reporting units is compared to its respective carrying amount including goodwill. If the fair value exceeds the carrying amount, then no impairment exists. If the carrying amount exceeds the fair value, further analysis is performed to assess impairment. The Company’s determination of fair value of the reporting units is based on a discounted cash flow approach, with an appropriate risk adjusted discount rate, and a market approach. Any identified impairment would result in an adjustment to the Company’s results of operations.

The Company also tests its indefinite-lived intangible assets, principally the Tempur and Sealy trade names. The Company tested its Sealy trade names for impairment using a “relief-from-royalty” method. Significant assumptions inherent in the methodologies are employed and include such estimates as royalty and discount rates. As allowed under U.S. GAAP, the Company tested its Tempur trade name through a qualitative analysis which considered indicators of impairment to evaluate whether the fair value was more likely than not in excess of its carrying value.

The Company performed its annual impairment test of goodwill and indefinite-lived intangible assets in 2015, 2014 and 2013, none of which resulted in the recognition of impairment charges. For further information on goodwill and other intangible assets refer to Note 4, “Goodwill and Other Intangible Assets”.

(l) 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. The Company considers the impact of recoverable salvage value on sales returns by segment in determining its estimate of future sales returns. Accrued sales returns are included in accrued expenses and other current liabilities in the accompanying Consolidated Balance Sheets.

The Company had the following activity for accrued sales returns from December 31, 2013 to December 31, 2015:



(in millions)
Balance as of December 31, 2013	28.7
Amounts accrued	127.4
Returns charged to accrual	(123.8		)
Balance as of December 31, 2014	$	32.3
Amounts accrued	123.0
Returns charged to accrual	(126.8		)
Balance as of December 31, 2015	$	28.5

(m) 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 claims 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. 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.

The Company provides warranties on mattresses with varying warranty terms. Tempur mattresses sold in the North America segment and all Sealy mattresses have warranty terms ranging from 10 to 25 years, generally non-prorated for the first 10 to 15 years and then prorated for the balance of the warranty term. Tempur mattresses sold in the International segment have warranty terms ranging from 5 to 15 years, non-prorated for the first 5 years and then prorated on a straight-line basis for the last 10 years of the warranty term. Tempur pillows have a warranty term of 3 years, non-prorated.

The Company had the following activity for warranties from December 31, 2013 to December 31, 2015:



(in millions)
Balance as of December 31, 2013	$	26.1
Amounts accrued	34.2
Warranties charged to accrual	(29.0		)
Balance as of December 31, 2014	31.3
Amounts accrued	28.8
Warranties charged to accrual	(30.5		)
Balance as of December 31, 2015	$	29.6

As of December 31, 2015 and 2014, $14.9 million and $16.1 million, of accrued warranty expense is included as a component of accrued expenses and other current liabilities and $14.7 million and $15.2 million of accrued warranty expense is included in other non-current liabilities on the Company’s accompanying Consolidated Balance Sheets, respectively.

(n) Income Taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are also recognized for the estimated future effects of tax loss carry forwards. The effect of changes in tax rates on deferred taxes is recognized in the period in which the enactment dates change. Valuation allowances are established when necessary on a jurisdictional basis to reduce deferred tax assets to the amounts expected to be realized. The Company accounts for uncertain foreign and domestic tax positions utilizing a proscribed recognition threshold and measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.

(o) Revenue Recognition. Sales of products are recognized when persuasive evidence of an arrangement exists, 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 at the time revenue is recognized based on historical experience. 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 for doubtful accounts 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 customer 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 Consolidated Balance Sheets was $23.3 million and $19.5 million as of December 31, 2015 and 2014, respectively.

The Company reflects all amounts billed to customers for shipping and handling in net sales and the costs incurred from shipping and handling product in cost of sales. Amounts included in net sales for shipping and handling were approximately $11.1 million, $14.7 million and $12.5 million for the years ended December 31, 2015, 2014 and 2013, respectively. Amounts included in cost of sales for shipping and handling were $161.6 million, $169.2 million and $142.5 million for the years ended December 31, 2015, 2014 and 2013, respectively.

During the periods ended December 31, 2015 and 2014, the Company recognized other income, net of expense, of $9.5 million and $15.6 million, respectively, from certain other non-recurring items, including the partial settlement of a legal dispute. No amounts were recognized in 2013.

(p) Cost of Sales. Costs associated with net sales are recorded in cost of sales. Cost of sales includes the costs of receiving, producing, inspecting, warehousing, insuring, and shipping goods during the period, as well as depreciation and amortization of long-lived assets used in these processes. Cost of sales also includes shipping and handling costs associated with the delivery of goods to customers and costs associated with internal transfers between plant locations.

(q) Cooperative Advertising, Rebate and Other Promotional Programs. The Company enters into agreements with customers to provide funds for advertising and promotions. The Company also enters into volume and other rebate programs with customers. The Company records the liability associated with cooperative advertising, rebates and other promotion programs when sales are made to these customers. The Company periodically assesses these liabilities based on actual sales and claims to determine whether all of the cooperative advertising earned will be used by the customer or whether the customer will meet the requirements to receive rebate funds. The Company generally negotiates these agreements on a customer-by-customer basis. Some of these agreements extend over several years. Significant estimates are required at any point in time with regard to the ultimate reimbursement to be claimed by the customers. Subsequent revisions to the estimates are recorded and charged to earnings in the period in which they are identified. Rebates and cooperative advertising are classified as a reduction of revenue and presented within net sales on the accompanying Consolidated Statements of Income. Certain cooperative advertising expenses are reported as components of selling and marketing expenses in the accompanying Consolidated Statements of Income because the Company receives an identifiable benefit and the fair value of the advertising benefit can be reasonably estimated.

(r) Advertising Costs. The Company expenses advertising costs as incurred except for production costs and advance payments, which are deferred and expensed when advertisements run for the first time. Direct response advance payments are deferred and amortized over the life of the program. Advertising costs are included in selling and marketing expenses in the accompanying Consolidated Statements of Income. Advertising costs charged to expense were $360.5 million, $326.7 million and $274.2 million for the years ended December 31, 2015, 2014 and 2013, respectively. Advertising costs include expenditures for shared advertising costs that the Company reimburses to customers under its integrated and cooperative advertising programs. Cooperative advertising costs paid to customers are recorded as a component of selling and marketing expenses within the Consolidated Statements of Income to the extent of the estimated fair value of the customer's underlying advertisement when the customer provides proof of advertising. The Company periodically assesses the liabilities recorded for cooperative advertising based on actual sales and claims to determine whether all of the cooperative advertising earned will be used by the customer. Advertising costs deferred and included in prepaid expenses and other current assets in the accompanying Consolidated Balance Sheets were $13.7 million and $9.7 million as of December 31, 2015 and 2014, respectively.

(s) Research and Development Expenses. Research and development expenses for new products are expensed as they are incurred and are included in general, administrative and other expenses in the accompanying Consolidated Statements of Income. Research and development costs charged to expense were $28.7 million, $21.6 million and $21.0 million for the years ended December 31, 2015, 2014 and 2013, respectively.

(t) Deferred Financing Costs. The Company capitalizes costs associated with the issuance of debt and amortizes these costs as additional interest expense over the lives of the debt instruments using the effective interest method. These costs are recorded as deferred financing costs as a direct reduction from the carrying amount of the corresponding debt liability in the accompanying Consolidated Balance Sheets and the related amortization is included and interest expense, net in the accompanying Consolidated Statements of Income. Upon the prepayment of the related debt, the Company accelerates the recognition of an appropriate amount of the costs.

(u) 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 $18.3 million, $18.1 million and $13.7 million for the years ended December 31, 2015, 2014 and 2013, respectively.

(v) Stock-Based Compensation. The Company accounts for stock-based payment transactions in which the Company receives employee services in exchange for equity instruments of the Company. Stock-based compensation cost for restricted stock units (“RSUs”), performance restricted stock units (“PRSUs”) and deferred stock units (“DSUs”) is measured based on the closing fair market value of the Company’s common stock on the date of grant. Stock-based compensation cost for stock options is estimated at the grant date based on each option’s fair-value as calculated by the Black-Scholes option-pricing model. The Company recognizes stock-based compensation cost as expense for awards other than its PRSUs ratably on a straight-line basis over the requisite service period. The Company recognizes stock-based compensation cost associated with its PRSUs over the requisite service period if it is probable that the performance conditions will be satisfied. The Company will recognize a benefit from stock-based compensation in additional paid in capital if an incremental tax benefit is realized pursuant to the Internal Revenue Code. Further information regarding stock-based compensation can be found in Note 12, “Stock-based Compensation.”

(w) Treasury Stock. Subject to Delaware law, and the limitations in the Company's 2012 Credit Agreement and the Company's other debt agreements, the Board of Directors may authorize share repurchases of the Company’s common stock (“Stock Repurchase Authorizations”). Stock Repurchase Authorizations may be made through open market transactions, negotiated purchase or otherwise, at times and in such amounts as the Company, and a committee of the Board, deem appropriate. Stock repurchased under Stock Repurchase Authorizations are held in treasury for general corporate purposes, including issuances under various employee stock-based award plans. Treasury stock is accounted for under the cost method and reported as a reduction of stockholders’ equity. Stock Repurchase Authorizations may be suspended, limited or terminated at any time without notice.

During 2015, the Company sold 69,686 shares of Common Stock pursuant to a subscription agreement entered into with the Company's Chief Executive Officer ("CEO") in connection with his hiring by the Company. These shares were issued through treasury stock and the Company received $5.0 million from the CEO as proceeds from the issuance of the treasury shares. Please refer to "Recent Sales of Unregistered Securities" included in Part II, ITEM 5 for additional information.

(x) Self-Insurance. The Company is self-insured up to $0.8 million per claim per year for certain losses related to medical claims with excess loss coverage. The Company also utilizes large deductible policies to insure claims related to general liability, product liability, automobile, and workers’ compensation. The Company’s recorded liability for workers’ compensation represents an estimate of the ultimate cost of claims incurred as of the balance sheet date. The estimated workers' compensation liability is undiscounted and is established based upon analysis of historical and actuarial estimates, and is reviewed by the Company and third party actuaries on a quarterly basis to ensure that the liability is appropriate. As of December 31, 2015 and 2014, $6.6 million and $4.8 million, respectively, of the recorded undiscounted liability is included in accrued expenses and other current liabilities and $11.5 million and $10.0 million, respectively, is included in other non-current liabilities within the accompanying Consolidated Balance Sheets.

(y) Environmental Cost. Environmental expenditures that relate to current operations are expensed or capitalized, as appropriate, under the FASB’s 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.

(z) Pension Obligations. The Company has a noncontributory, defined benefit pension plan covering current and former hourly employees at two of its active Sealy plants and nine 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 measurement of the PBO is based on the Company’s estimates and actuarial valuations. 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. 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.

(aa) Supply Agreements. The Company from time to time enters into long term supply agreements with its customers to sell its branded products to customers in exchange for minimum sales volume or a minimum percentage of the customer's sales or space on the retail floor. Such agreements generally cover a period of two to five years. Initial cash outlays by the Company for such agreements are capitalized and amortized generally as a reduction of sales over the life of the contract. The majority of these cash outlays are ratably recoverable upon contract termination. Such capitalized amounts are included in prepaid expenses and other current assets and non-current assets in the Company's Consolidated Balance Sheets.

(bb) Restructuring Activities. For the year ended December 31, 2015, the Company initiated certain restructuring activities, which included headcount reductions and store closures. As a result, the Company recognized $13.5 million of restructuring expenses consisting primarily of severance benefits and costs associated with store closures, which are recorded in cost of sales; selling and marketing expenses; and general, administrative and other expenses.

(cc) Subsequent events. On February 1, 2016, the Board of Directors authorized a new Stock Repurchase Authorization for up to $200.0 million of the Company's common stock. Stock repurchases under this program may be made through open market transactions, negotiated purchases or otherwise, at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors including price, financing and regulatory requirements and other market conditions. The program does not require the purchase of any minimum number of shares and may be suspended, modified or discontinued at any time without prior notice. Repurchases may be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so under federal securities laws.

Recently Issued Accounting Pronouncements	12 Months Ended
Recently Issued Accounting Pronouncements	Dec. 31, 2015
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue From Contracts With Customers, that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This ASU is based on the core principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard. This ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period. The Company is currently evaluating this ASU to determine the Company's adoption method and the impact it will have on the Company's Consolidated Financial Statements. In April 2015, the FASB issued ASU No. 2015-03, Interest- Imputation of Interest- Simplifying the Presentation of Debt Issuance Costs, which requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct reduction from the carrying amount of that debt liability. This ASU is effective for annual reporting periods beginning after December 15, 2015 and must be adopted retrospectively; however, early adoption is permitted. The Company has elected to early adopt this ASU as of December 31, 2015, and as a result debt issuance costs of $24.8 million are reducing the carrying amounts of the Company’s long-term debt. As required under the ASU, this adoption resulted in the reclassification of $37.6 million of debt issuance costs included in other non-current assets to long-term debt on the Consolidated Balance Sheet as of December 31, 2014. In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes, which requires companies to classify all deferred tax assets and liabilities as noncurrent on the balance sheet, rather than separating deferred taxes into current and noncurrent amounts. This ASU is effective for annual and interim reporting periods beginning after December 15, 2017 and can be adopted prospectively or retrospectively; however, early adoption is permitted. The Company has elected to early adopt this ASU as of December 31, 2015 on a retrospective basis. As required under this ASU, this adoption resulted in the reclassification of $2.2 million current deferred income tax assets to noncurrent deferred income tax assets and $0.2 million current deferred income tax liabilities to noncurrent deferred income tax liabilities in the Consolidated Balance Sheet as of December 31, 2014.

- Definition

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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+ Details

Acquisitions and Divestitures

12 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

Acquisitions and Divestitures

Sealy Acquisition

On March 18, 2013, the Company completed the Sealy Acquisition. The Company incurred $18.7 million of transaction costs for the year ended December 31, 2013. There were no transaction expenses incurred in 2014 or 2015. These costs are included in general, administrative and other expenses in the accompanying Consolidated Statements of Income. In addition, the Company incurred $19.9 million of incremental interest expense for the year ended December 31, 2013. This includes interest and other fees with respect to the 2020 Senior Notes and the 2012 Credit Agreement for the period prior to March 18, 2013. The incremental interest expense also included 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 following unaudited pro forma information presents the combined financial results for the Company 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 year ended December 31, 2013 includes Sealy’s pro forma information for the combined twelve month period from December 3, 2012 through March 3, 2013 and April 1, 2013 through December 29, 2013.



	Year Ended
	December 31,
(in millions, except earnings per common share)	2013
Net sales	$	2,757.2
Net income	$	90.9
Earnings per common share – Diluted	$	1.49

The information above does not include the pro forma adjustments that would be required under Regulation S-X for pro forma financial information, and does not reflect future events that may occur after December 31, 2013 or any operating efficiencies or inefficiencies that may result from the Sealy Acquisition and related financing. 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.

Other Acquisitions and Divestitures

Sale of Portland Manufacturing Facility

Effective May 6, 2015, the Company sold its Sealy manufacturing facility in Portland, Oregon, which was previously held for sale and recorded in prepaid expenses and other current assets on the Consolidated Balance Sheets. The Company received $7.2 million in proceeds on the sale and recorded a gain of $0.4 million, which is included in other expense (income), net in the Consolidated Statement of Income for the year ended December 31, 2015.

Acquisition of Certain Assets and License Rights in Japan

Effective July 1, 2014, the Company acquired certain assets from a third-party licensee relating to its business in Japan. The total purchase price was $8.5 million. The Company accounted for this business combination using the acquisition method. The preliminary allocation of the purchase price was based on estimates of the fair value of assets acquired as of July 1, 2014. 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, which is non-deductible for income tax purposes. The Company finalized the allocation of the purchase price during the year ended December 31, 2015, which did not result in any material measurement period adjustments.

Disposal of Innerspring Component Production Facilities and Associated Equipment

Effective June 30, 2014, the Company completed the sale of its three U.S. innerspring component production facilities and equipment, along with associated working capital, to Leggett & Platt (“L&P”) for total consideration of approximately $47.8 million, which included $1.5 million of other non-cash consideration. The working capital adjustment period ended during the quarter ended September 30, 2014 and resulted in a cash payment to L&P of $2.8 million, which reduced the total consideration received to $45.0 million. The carrying amount of the net assets sold in this transaction was approximately $66.8 million, including an allocation of goodwill within the historical Sealy segment which was determined using the relative fair value method. As a result, a loss on disposal of business was recorded of $23.2 million for the year ended December 31, 2014, which included $1.4 million of transaction costs and the $2.8 million working capital adjustment discussed above.

- 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).

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+ Details

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Prior to January 1, 2015, the Company operated under three reportable segments: Tempur North America, Tempur International and Sealy. The following summarizes changes to the Company’s goodwill, by reportable segment for the period December 31, 2013 to December 31, 2014:



(in millions)	Tempur North America			Tempur International			Sealy			Total
Balance as of December 31, 2013	$	107.7		$	107.3		$	544.6		$	759.6
Disposal of business	—			—			(21.4		)	(21.4		)
Goodwill resulting from acquisitions	—			2.3			—			2.3
Foreign currency translation adjustments	(1.5		)	(1.2		)	(1.3		)	(4.0		)
Balance as of December 31, 2014	$	106.2		$	108.4		$	521.9		$	736.5

Effective January 1, 2015, the Company realigned its organizational structure and updated its segments in light of the progress made in 2013 and 2014 integrating Sealy into its historical business. The Company's updated reportable segments are North America and International. For additional information regarding the Company's realignment and reportable segment determination, see Note 16, "Segment Information".

As a result of the Company's segment realignment, the composition of the Company's reporting units for the evaluation of goodwill impairment also changed. Historically, the Company's reporting units were the same as the reportable segments: Tempur North America, Tempur International, and Sealy. Effective January 1, 2015, the Company identified three reporting units for purposes of evaluating goodwill impairment: Tempur Sealy U.S. and Tempur Sealy Canada reporting units within the North America segment and one reporting unit comprising the International segment.

As the composition of the reporting units changed, the Company reassigned historical goodwill to the new reporting units based on a relative fair value allocation approach. The relative fair value allocation approach yielded the reassignment of total Sealy goodwill as of December 31, 2014 of $521.9 million. The following summarizes the reassignment of goodwill from the historical segments to the new segments:



(in millions)	Reassigned Goodwill by Segment
North America segment:
Tempur North America segment goodwill as of January 1, 2015	$	106.2
Sealy segment goodwill as of January 1, 2015 reassigned to the North America segment	468.3
Total North America segment goodwill as of January 1, 2015	$	574.5

International segment:
Tempur International segment goodwill as of January 1, 2015	$	108.4
Sealy segment goodwill as of January 1, 2015 reassigned to the International segment	53.6
Total International segment goodwill as of January 1, 2015	$	162.0

The following summarizes changes to the Company’s goodwill, by new reportable segment for the period January 1, 2015 to December 31, 2015:



(in millions)	North America			International			Consolidated
Balance as of January 1, 2015	$	574.5		$	162.0		$	736.5
Foreign currency translation adjustments and other	(11.7		)	(15.4		)	(27.1		)
Balance as of December 31, 2015	$	562.8		$	146.6		$	709.4

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



($ in millions)		December 31, 2015						December 31, 2014
	Useful Lives (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Carrying Amount		Accumulated Amortization		Net Carrying Amount
Unamortized indefinite life intangible assets:
Trade names		$	558.1	$	—	$	558.1	$	569.0	$	—	$	569.0
Amortized intangible assets:
Contractual distributor relationships	15	$	84.8	$	15.8	$	69.0	$	88.2	$	10.4	$	77.8
Technology and other	4-10	90.8		39.2		51.6		92.6		32.6		60.0
Patents, other trademarks, and other trade names	5-20	27.2		16.9		10.3		27.3		14.6		12.7
Customer databases, relationships and reacquired rights	2-5	24.5		18.1		6.4		24.1		16.5		7.6
Total		$	785.4	$	90.0	$	695.4	$	801.2	$	74.1	$	727.1

Amortization expense relating to intangible assets for the Company was $17.9 million, $18.5 million and $15.2 million for the years ended December 31, 2015, 2014 and 2013, respectively, and is recorded in general, administrative and other expenses in the Company's Consolidated Statements of Income. No impairments of goodwill or other intangible assets have adjusted the gross carrying amount of these assets in any period.

Estimated annual amortization of intangible assets is expected to be as follows for the years ending December 31:



(in millions)	Amount
2016	$	17.9
2017	17.2
2018	15.4
2019	14.8
2020	13.8

- 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

Unconsolidated Affiliate Companies

12 Months Ended

Dec. 31, 2015

Equity Method Investments and Joint Ventures [Abstract]

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 $13.6 million and $12.9 million at December 31, 2015 and 2014, respectively, is recorded in other non-current assets within the accompanying Consolidated Balance Sheets. The Company’s share of earnings for the year ended December 31, 2015 and 2014 is recorded in equity income in earnings of unconsolidated affiliates in the accompanying Consolidated Statements of Income.

The tables below present summarized financial information for joint ventures as of and for the years ended December 31:



(in millions)	2015		2014
Current assets	$	50.0	$	49.7
Non-current assets	15.7		5.1
Current liabilities	37.3		29.7
Equity	28.4		25.1



(in millions)	2015		2014
Revenue	$	131.6	$	99.2
Gross profit	85.0		62.1
Income from operations	26.2		16.8
Net income	20.1		13.1

Debt

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Debt

Debt for the Company consists of the following:



(in millions)	December 31, 2015				December 31, 2014
Debt:	Amount			Rate	Amount			Rate	Maturity Date
Revolving credit facility	$	—		N/A	$	16.0		(1)	March 18, 2018
Term A Facility	409.4			(2)	484.5			(2)	March 18, 2018
Term B Facility	100.1			(3)	594.4			(3)	March 18, 2020
2020 Senior Notes	375.0			6.875%	375.0			6.875%	December 15, 2020
2023 Senior Notes	450.0			5.625%	—			—%	October 15, 2023
8.0% Sealy Notes	111.1			8.0%	104.7			8.0%	July 15, 2016
Capital lease obligations and other	34.0				27.7				Various
Total debt	1,479.6				1,602.3
Less: deferred financing costs	(24.8		)		(37.6		)
Total debt, net	1,454.8				1,564.7
Less: current portion	(181.5		)		(66.4		)
Total long term debt, net	1,273.3				1,498.3



(1)	Interest at Base Rate plus applicable margin of 2.00% or LIBOR plus applicable margin of 3.00% as of December 31, 2014. As of December 31, 2015, there were no borrowings under the Revolver. As of December 31, 2014, the Revolver LIBOR plus applicable margin interest rate was 3.16%.
(2)	Interest at LIBOR plus applicable margin of 2.00% as of December 31, 2015 and 2.25% as of December 31, 2014. As of December 31, 2015 and 2014, the Term A Facility total LIBOR plus applicable margin interest rate was 2.42%.
(3)	Interest at LIBOR, subject to a 0.75% floor plus applicable margin of 2.75% as of December 31, 2015 and December 31, 2014. As of December 31, 2015 and 2014, the Term B Facility total LIBOR plus applicable margin was 3.50%.

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 (as amended, 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”). The Revolver includes a sublimit for letters of credit and swingline loans, subject to certain conditions and limits. The Revolver and the Term A Facility will mature on March 18, 2018 and the Term B Facility will mature on March 18, 2020. The Revolver, the Term A Facility and the Term B Facility closed and funded in connection with the Sealy Acquisition on March 18, 2013.

Borrowings under the 2012 Credit Agreement will generally bear interest, at the election of Tempur Sealy International and the other subsidiary borrowers, at either (i) LIBOR plus the applicable margin or (ii) Base Rate plus the applicable margin. For the Revolver and the Term A Facility, (a) the initial applicable margin for LIBOR advances was 3.00% per annum and the initial applicable margin for Base Rate advances was 2.00% per annum, and (b) thereafter following the delivery of financial statements for the first full fiscal quarter after closing, such applicable margins are determined by a pricing grid based on the consolidated total net leverage ratio of the Company. The Term B Facility was initially subject to a LIBOR floor of 1.00%. The applicable margin for the Term B facility was initially 4.00% per annum for LIBOR advances and 3.00% per annum for Base Rate advances. On May 16, 2013, the applicable margin on the Term B Facility was reduced to 2.75% per annum for LIBOR advances and 1.75% per annum for Base Rate advances, and the LIBOR floor was reduced to 0.75% until maturity. On July 11, 2013, the applicable margin on the Term A Facility was reduced by 0.75% for each pricing level on the pricing grid based on the consolidated total net leverage ratio of the Company.

Obligations under the 2012 Credit Agreement are guaranteed by Tempur Sealy International’s existing and future direct and indirect wholly-owned domestic subsidiaries, subject to certain exceptions. The 2012 Credit Agreement is secured by a security interest in substantially all Tempur Sealy International’s and the other subsidiary borrowers’ domestic assets and the domestic assets of each subsidiary guarantor, whether owned as of the closing or thereafter acquired, including a pledge of 100.0% of the equity interests of each subsidiary guarantor that is a domestic entity (subject to certain limited exceptions) and 65.0% of the voting equity interests of any direct first tier foreign entity owned by a subsidiary guarantor. 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 Consolidated Balance Sheets as of the reporting date, plus letters of credit outstanding and short-term other debt. The Company is allowed to subtract from consolidated funded debt an amount equal to 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 December 31, 2015, domestic qualified cash was $121.8 million and foreign qualified cash was $19.3 million.

The 2012 Credit Agreement contains certain customary negative covenants, which include limitations on liens, investments, indebtedness, dispositions, mergers and acquisitions, the making of restricted payments, changes in the nature of business, changes in fiscal year, transactions with affiliates, use of proceeds, prepayments of certain indebtedness, entry into burdensome agreements and changes to governing documents and other junior financing documents. The 2012 Credit Agreement also contains certain customary affirmative covenants and events of default, including upon a change of control.

Tempur Sealy International is required to pay a commitment fee on the unused portion of the Revolver, which initially was 0.50% per annum and which steps down to 0.375% per annum if the consolidated total net leverage ratio is less than or equal to 3.50:1.00. This unused commitment fee is payable quarterly in arrears and on the date of termination or expiration of the commitments under the Revolver. Tempur Sealy International and the other borrowers also pay customary letter of credit issuance and other fees under the 2012 Credit Agreement.

On October 17, 2014, the Company entered into an amendment to its existing 2012 Credit Agreement. The amendment provides the Company with flexibility in the acquisition of existing and future licensees, distributors and joint ventures as well as the potential acquisition of other strategic international brands in existing Company markets by, among other things, providing for increased acquisition baskets and certain exceptions from such acquisition baskets and greater flexibility with respect to the requirements for guarantying the obligations under the 2012 Credit Agreement by certain existing joint ventures. In addition, the amendment provides for flexibility under the maximum consolidated total net leverage ratio going forward as well as additional flexibility in the making of certain investments and restricted payments and the payment of junior indebtedness through, among other things, an available amount basket that includes a $50.0 million starter portion.

The Company used the proceeds from the issuance of its 5.625% senior notes due 2023 (the "2023 Senior Notes") and an additional $50.0 million of available cash to voluntarily prepay $479.9 on the Term B Facility and $13.9 million on the Term A Facility. In conjunction with the voluntary prepayment, the Company recognized accelerated amortization of $12.0 million of the associated deferred financing costs, which is included within interest expense, net in the accompanying Consolidated Statements of Income.

The Company is in compliance with all applicable covenants at December 31, 2015.

Senior Notes

2023 Senior Notes

On September 24, 2015, Tempur Sealy International issued $450.0 million aggregate principal amount of 5.625% senior notes due 2023 (the "2023 Senior Notes") in a private offering 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 2023 Senior Notes were issued pursuant to an indenture, dated as of September 24, 2015 (the “2023 Indenture”), among Tempur Sealy International, certain subsidiaries of Tempur Sealy International as guarantors (the “Combined Guarantor Subsidiaries”), and The Bank of New York Mellon Trust Company, N.A., as trustee. The 2023 Senior Notes are general unsecured senior obligations of Tempur Sealy International and are guaranteed on a senior unsecured basis by the Combined Guarantor Subsidiaries. The 2023 Senior Notes mature on October 15, 2023, and interest is payable semi-annually in arrears on each April 15 and October 15, beginning on April 15, 2016. The gross proceeds from the 2023 Senior Notes were used to refinance a portion of the term loan debt under the 2012 Credit Agreement and to pay related fees and expenses.

Tempur Sealy International has the option to redeem all or a portion of the 2023 Senior Notes at any time on or after October 15, 2018. The initial redemption price is 104.219% of the principal amount, plus accrued and unpaid interest, if any. The redemption price will decline each year after 2018 until it becomes 100.0% of the principal amount beginning on October 15, 2021. In addition, Tempur Sealy International has the option at any time prior to October 15, 2018 to redeem some or all of the 2023 Senior Notes at 100.0% of the original principal amount plus a “make-whole” premium and accrued and unpaid interest, if any. Tempur Sealy International may also redeem up to 35.0% of the 2023 Senior Notes prior to October 15, 2018, under certain circumstances with the net cash proceeds from certain equity offerings, at 105.625% of the principal amount plus accrued and unpaid interest, if any. Tempur Sealy International may make such redemptions as described in the preceding sentence only if, after any such redemption, at least 65.0% of the original aggregate principal amount of the 2023 Senior Notes issued remains outstanding.

The 2023 Indenture restricts the ability of Tempur Sealy International and the ability of certain of its subsidiaries to, among other things: (i) incur, directly or indirectly, debt; (ii) make, directly or indirectly, certain investments and restricted payments; (iii) incur or suffer to exist, directly or indirectly, liens on its properties or assets; (iv) sell or otherwise dispose of, directly or indirectly, assets; (v) create or otherwise cause or suffer to exist any consensual restriction on the right of certain of the subsidiaries of Tempur Sealy International to pay dividends or make any other distributions on or in respect of their capital stock; (vi) enter into transactions with affiliates; (vii) engage in sale-leaseback transactions; (viii) purchase or redeem capital stock or subordinated indebtedness; (ix) issue or sell stock of restricted subsidiaries; and (x) effect a consolidation or merger. These covenants are subject to a number of exceptions and qualifications.

In conjunction with the issuance and sale of the 2023 Senior Notes, Tempur Sealy International and the Combined Guarantor Subsidiaries have agreed through a Registration Rights Agreement to exchange the 2023 Senior Notes for a new issue of substantially identical senior notes registered under the Securities Act. Tempur Sealy International and the Combined Guarantor Subsidiaries are required to pay additional interest if the 2023 Senior Notes are not registered within the time periods specified within the Registration Rights Agreement.

2020 Senior Notes

On December 19, 2012, Tempur Sealy International issued $375.0 million aggregate principal amount of 6.875% senior notes due 2020 (the “2020 Senior Notes”) to qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933 and to certain non-U.S. persons in accordance with Regulation S under the Securities Act. The 2020 Senior Notes were issued pursuant to an indenture, dated as of December 19, 2012 (the “2020 Indenture” and together with the 2023 Indenture, the "Indentures"), among the Company, the Combined Guarantor Subsidiaries (the Combined Guarantor Subsidiaries are the same under both the 2023 Indenture and 2020 Indenture), and The Bank of New York Mellon Trust Company, N.A., as trustee. The 2020 Senior Notes are general unsecured senior obligations of Tempur Sealy International and are guaranteed on a senior unsecured basis by the Combined Guarantor Subsidiaries. The 2020 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 2020 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 Combined Guarantor Subsidiaries of the 2020 Senior Notes.

Tempur Sealy International has the option to redeem all or a portion of the 2020 Senior Notes at any time on or after December 15, 2016. Starting on this date the initial redemption price is 103.438% of the principal amount, plus accrued and unpaid interest, if any. The redemption price will decline to 101.719% on December 15, 2017 and to 100.0% of the principal amount beginning on December 15, 2018. In addition, Tempur Sealy International has the option at any time prior to December 15, 2016 to redeem some or all of the 2020 Senior Notes at 100.0% of the original principal amount plus a “make-whole” premium and accrued and unpaid interest, if any. Tempur Sealy International may also redeem up to 35.0% of the 2020 Senior Notes prior to December 15, 2015, under certain circumstances with the net cash proceeds from certain equity offerings, at 106.875% of the principal amount plus accrued and unpaid interest, if any. Tempur Sealy International may make such redemptions only if, after any such redemption, at least 65.0% of the original aggregate principal amount of the 2020 Senior Notes issued remains outstanding.

The 2020 Indenture restricts the ability of Tempur Sealy International and the ability of certain of its subsidiaries to, among other things: (i) incur, directly or indirectly, debt; (ii) make, directly or indirectly, certain investments and restricted payments; (iii) incur or suffer to exist, directly or indirectly, liens on its properties or assets; (iv) sell or otherwise dispose of, directly or indirectly, assets; (v) create or otherwise cause or suffer to exist any consensual restriction on the right of certain of the subsidiaries of Tempur Sealy International to pay dividends or make any other distributions on or in respect of their capital stock; (vi) enter into transactions with affiliates; (vii) engage in sale-leaseback transactions; (viii) purchase or redeem capital stock or subordinated indebtedness; (ix) issue or sell stock of restricted subsidiaries; and (x) effect a consolidation or merger. These covenants are subject to a number of exceptions and qualifications.

Also in conjunction with the issuance and sale of the 2020 Senior Notes, Tempur Sealy International and the Combined Guarantor Subsidiaries agreed through a Registration Rights Agreement to exchange the 2020 Senior Notes for a new issue of substantially identical senior notes registered under the Securities Act. Tempur Sealy International and the Combined Guarantor Subsidiaries would have been required to pay additional interest if the 2020 Senior Notes were not registered within the time periods specified within the Registration Rights Agreement. Tempur Sealy International filed a registration statement on Form S-4 on July 12, 2013 in connection with the registration of the 2020 Senior Notes, and the registration statement was declared effective by the Securities and Exchange Commission on July 26, 2013, which was within the specified time period.

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 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 March 18, 2013, the date the Sealy Acquisition closed. As of December 31, 2015, the carrying value of the 8.0% Sealy Notes is $111.1 million, which includes $14.9 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 December 31, 2014, the 8.0% Sealy Notes had a carrying value of $104.7 million, which includes $8.7 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. PIK interest accrued on the most recent interest period then ended on the 8.0% Sealy Notes converted between interest payment dates is forfeited.

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 as of December 31, 2015 and 2014. The approximate remaining life of the leases ranges from 2 to 10 years as of December 31, 2015, with several including an option to extend the contract term.

Deferred Financing Costs

In conjunction with the voluntary prepayment on amounts outstanding under the 2012 Credit Facility using the proceeds from issuance of the 2023 Senior Notes and an additional $50.0 million of available cash, the Company recorded accelerated amortization of $12.0 million of the associated deferred financing costs which is included in interest expense, net in the Consolidated Statement of Income. Additionally, as a result of the issuance of the 2023 Senior Notes, $8.0 million of deferred financing costs were capitalized in 2015 and will be amortized as interest expense over the term of the 2023 Senior Notes, using the effective interest method.

In conjunction with the voluntary prepayment on September 30, 2014 on amounts outstanding under the 2012 Credit Agreement, the Company recorded accelerated amortization of $3.3 million of the associated deferred financing costs, which is included in interest expense, net in the Consolidated Statement of Income. On October 17, 2014, the Company capitalized $3.1 million of deferred financing costs in connection with the amendment to the existing 2012 Credit Agreement. These deferred financing costs will be amortized as interest expense over the remaining 3 to 5 years of the debt instrument period, in conjunction with the initial deferred financing costs capitalized in 2013 and discussed above.

As a result of the Company’s issuance of the 2020 Senior Notes and in conjunction with entering into the 2012 Credit Agreement, $54.3 million of deferred financing costs were capitalized in 2013 and 2012 and will be amortized as interest expense over the respective debt instrument period, ranging from 5 to 8 years, using the effective interest method.

In conjunction with the repayment of all outstanding borrowings on the 2011 Credit Facility, the Company wrote off the associated $4.7 million of deferred financing costs in 2013 which is included in interest expense, net in the Consolidated Statement of Income.

Future Obligations

As of December 31, 2015, the scheduled maturities of long-term debt outstanding, including capital lease obligations, for each of the next five years and thereafter are as follows:



(in millions)	Amount
2016	$	181.5
2017	58.0
2018	314.1
2019	7.3
2020	460.8
Thereafter	457.9
Total	$	1,479.6

Fair Value Measurements

12 Months Ended

Dec. 31, 2015

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 year ended December 31, 2015 and 2014. At December 31, 2015 and 2014, the Company had foreign exchange forward contracts recorded at fair value. Additionally, as of December 31, 2014, the Company had an interest rate swap agreement recorded at fair value. The fair value of the interest rate swap agreement is calculated using standard industry models based on observable forward yield curves. The Company also utilizes foreign currency forward contracts to manage the risk associated with exposures to foreign currency risk related to intercompany debt and associated interest payments. The fair value of the foreign exchange 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 fair value of the interest rate swap was not material for the years ended December 31, 2015 or 2014.

The following table provides a summary by level of the fair value of foreign exchange forward contracts, which are measured on a recurring basis:



	Fair Value Measurements at December 31, 2015 Using:
(in millions)	December 31, 2015		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	$	12.5			$	12.5	—
	$	12.5	$	—	$	12.5	$	—
Liabilities:
Foreign exchange forward contracts	$	1.2	$	—	$	1.2	$	—
	$	1.2	$	—	$	1.2	$	—



	Fair Value Measurements at December 31, 2014 Using:
(in millions)	December 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	$	1.8	$	—	$	1.8	$	—
	$	1.8	$	—	$	1.8	$	—
Liabilities:
Foreign exchange forward contracts	$	0.1	$	—	$	0.1	$	—
	$	0.1	$	—	$	0.1	$	—

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 2023 Senior Notes was approximately $453.4 million at December 31, 2015. The fair value of the 2020 Senior Notes was approximately $393.8 million and $398.4 million at December 31, 2015 and 2014, respectively. The fair value of the 8.0% Sealy Notes was approximately $112.7 million and $110.7 million at December 31, 2015 and 2014, respectively. The fair value of the 2023 Senior Notes, 2020 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

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2015

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. The Company uses interest rate swaps to manage risks from these 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 risks associated with intercompany inventory purchases and are designated as cash flow hedging instruments. Certain forward exchange forward contracts relate to intercompany debt and associated interest payments and certain accounts receivable and accounts payable and are considered to be economic hedges. The fair value of the interest rate swap and 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 Agreement

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 on its variable rate debt. The Company designated this interest rate swap agreement 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 interest rate 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 interest rate swap agreement and on an ongoing basis) in offsetting changes in cash flows of the hedged transaction. The interest rate swap agreement expired on December 30, 2015.

Foreign Exchange Forward Contracts

As of December 31, 2015 and December 31, 2014, the fair value of the Company's derivative financial instruments included in the accompanying Consolidated Balance Sheets was recorded as follows:



	Asset Derivatives
	Balance Sheet Location	Fair Value
(in millions)		December 31, 2015		December 31, 2014
Derivatives designated as hedging instruments
Foreign exchange forward contracts - current	Prepaid expenses and other current assets	$	7.7	$	1.8
Foreign exchange forward contracts - non-current	Other non-current assets	1.3		—
Derivatives not designated as hedging instruments
Foreign exchange forward contracts - current	Prepaid expenses and other current assets	3.5		—
		$	12.5	$	1.8



	Liability Derivatives
	Balance Sheet Location	Fair Value
(in millions)		December 31, 2015		December 31, 2014
Derivatives not designated as hedging instruments
Foreign exchange forward contracts - current	Accrued expenses and other current liabilities	$	1.2	$	0.1
		$	1.2	$	0.1

Cash Flow Hedges

The Company is exposed to foreign currency risk related to intercompany and third party 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. As of December 31, 2015, the Company had foreign exchange forward contracts designated as cash flow hedges to buy U.S dollars and to sell Canadian dollars with a notional amount outstanding of $87.0 million. These foreign exchange forward contracts have maturities ranging from January 2016 to September 2017. 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 AOCL until the underlying hedged item is reflected in the Company's accompanying Consolidated Statements of Income, at which time the effective amount in AOCL is reclassified to cost of sales in the accompanying Consolidated Statements of Income. The Company expects to reclassify a gain of approximately $5.7 million, net of tax, over the next 12 months based on December 31, 2015 exchange rates.

In the event that the gains or losses in AOCL 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 Consolidated Statements of Income. These amounts are immaterial to the Consolidated Financial Statements.

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 exchange forward contracts 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. These amounts are immaterial to the Consolidated Financial Statements.

- 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 30
-Section 45
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6441202&loc=d3e80720-113993

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 815
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-Section 50
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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Reference 8: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Section 50
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Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 16: http://www.xbrl.org/2003/role/presentationRef
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Reference 17: http://www.xbrl.org/2003/role/presentationRef
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Reference 18: http://www.xbrl.org/2003/role/presentationRef
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Reference 19: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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-Subparagraph (SX 210.4-08.(n))
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+ Details

Retirement Plans

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Retirement Plans

401(k) Plan

The Company has a defined contribution plan (“the 401(k) Plan”) whereby eligible employees may contribute up to 15.0% of their pay subject to certain limitations as defined by the 401(k) Plan. Employees are eligible to participate in the 401(k) Plan after 90 days and are eligible to receive matching contributions upon one year of employment with the Company. The 401(k) Plan provides a 100.0% match of the first 3.0% and 50.0% of the next 2.0% of eligible employee contributions. All matching contributions vest immediately. The Company incurred $7.3 million, $5.0 million and $1.7 million of expenses associated with the 401(k) Plan for the years ended December 31, 2015, 2014 and 2013, respectively.

Defined Contribution Plans

Substantially all employees in the Company's North America segment are covered by defined contribution profit sharing plans, where specific amounts (as annually established by the Company) are set aside in trust for retirement benefits. Profit sharing expense was $2.8 million, $1.7 million and $4.0 million for the years ended December 31, 2015, 2014 and 2013, respectively.

Company Defined Benefit Pension Plans

The Company has a noncontributory, defined benefit pension plan covering current and former hourly employees at two of its active Sealy plants and nine 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 (collectively, referred to as the "Plans"). The 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.

Pension plan assets consist of investments in various common/collective trusts with equity investment strategies diversified across multiple industry sectors and company market capitalization within specific geographical investment strategies, fixed income common/collective trusts, which invest primarily in investment-grade and high-yield corporate bonds and U.S. treasury securities, as well as money market mutual funds. The fixed income investments are diversified as to ratings, maturities, industries and other factors. The plan assets contain no significant concentrations of risk related to individual securities or industry sectors. The Plans have no direct investment in the Company's common stock.

The long-term rate of return for the plans is based on the weighted average of the plans’ investment allocation and the historical returns for those asset categories. Because future compensation levels are not a factor in these plans’ benefit formula, the accumulated benefit obligation is equal to the projected benefit obligation as reported below. The discount rate is based on the returns on long-term bonds in the private sector and incorporates a long-term inflation rate. Summarized information for the plans follows:

Expenses and Status

Components of net periodic pension cost which is included in general, administrative and other expenses included in the accompanying Consolidated Statements of Income for the years ended December 31 were as follows:



(in millions)	2015			2014			2013
Service cost	$	0.8		$	0.9		$	0.9
Interest cost	1.9			1.8			1.3
Expected return on assets	(2.2		)	(2.1		)	(1.5		)
Curtailment loss	—			0.1			—
Amortization of net gain	—			(0.1		)	—
Settlement loss	1.3			—			—
Net periodic pension cost	$	1.8		$	0.6		$	0.7

The other changes in plan assets and benefit obligations recognized in other comprehensive (income) loss for the years ended December 31 were:



(in millions)	2015			2014			2013
Net loss	$	0.2		$	9.0		$	(6.2	)
Amortization of prior service cost	—			(0.2		)	1.0
Amortization or settlement recognition of net gain (loss)	(1.3		)	0.1			—
New prior service cost	0.1			0.1			—
Total recognized in other comprehensive (income) loss	$	(1.0	)	$	9.0		$	(5.2	)

The following assumptions, calculated on a weighted‑average basis, were used to determine net periodic pension cost for the Company’s defined benefit pension plans for the years ended December 31:



	2015		2014		2013
Discount rate ^(a)	4.12	%	4.01	%	4.23	%
Expected long term return on plan assets	7.05	%	7.00	%	6.92	%

(a)

The discount rates used in 2015 to determine the expenses for the United States retirement plan and Canadian retirement plan were 3.94% and 4.20%, respectively. The discount rates used in 2014 to determine the expenses for the United States retirement plan and Canadian retirement plan were 3.94% and 5.00%, respectively. The discount rates used in 2013 to determine the expenses for the United States retirement plan and Canadian retirement plan were 4.25% and 4.00%, respectively.

Obligations and Funded Status

The measurement date for the Company’s Plans is December 31. The funded status of the Plans as of December 31 were as follows:



(in millions)	2015			2014
Change in Benefit Obligation:
Projected benefit obligation at beginning of year	$	47.1		$	36.4
Service cost	0.8			0.9
Interest cost	1.9			1.8
Plan amendments	0.1			0.2
Actuarial (gain) loss	(3.3		)	9.2
Curtailments	—			(0.1		)
Settlements	(16.9		)	—
Benefits paid	(0.8		)	(0.7		)
Expenses paid	(0.1		)	(0.2		)
Foreign currency exchange rate changes	(0.6		)	(0.4		)
Projected benefit obligation at end of year	$	28.2		$	47.1
Change in Plan Assets:
Fair value of plan assets at beginning of year	$	32.5		$	30.5
Actual (loss) return on assets	(1.3		)	2.2
Employer contribution	1.1			1.0
Settlements	(16.9		)	—
Benefits paid	(0.8		)	(0.7		)
Expenses paid	(0.1		)	(0.2		)
Foreign currency exchange rate changes	(0.6		)	(0.3		)
Fair value of plan assets at end of year	$	13.9		$	32.5
Funded status	$	(14.3	)	$	(14.6	)

The Company’s defined benefit pension plan for U.S. Sealy employees is underfunded. As of December 31, 2015, the projected benefit obligation and fair value of plan assets were $25.3 million and $10.8 million, respectively. As of December 31, 2014, the projected benefit obligation and fair value of plan assets were $43.7 million and $28.8 million, respectively. The Company’s defined benefit pension plan for employees of Sealy Canada, Ltd. is overfunded. As of December 31, 2015, the projected benefit obligation and fair value of plan assets for the Sealy Canada Ltd. pension plan were $2.9 million and $3.1 million, respectively. As of December 31, 2014, the projected benefit obligation and fair value of plan assets for the Sealy Canada Ltd. pension plan were $3.4 million and $3.7 million, respectively.

During the fourth quarter of 2015, the Company offered a lump-sum settlement to terminated, vested participants in the defined benefit pension plan for U.S. Sealy employees, which resulted in the recognition of a settlement loss of approximately $1.3 million and reduction of the benefit obligation and plan assets of approximately $17.0 million.

The following table represents amounts recorded in the Consolidated Balance Sheets:



	December 31,
(in millions)	2015		2014
Amounts recognized in the Consolidated Balance Sheets:
Non-current benefit liability	$	14.5	$	14.9
Non-current benefit asset	0.2		0.3

The following assumptions, calculated on a weighted‑average basis, were used to determine benefit obligations for the Company’s defined benefit pension plans as of December 31:



	2015		2014
Discount rate^(a)	4.44	%	5.00	%


(a)	The discount rates used in 2015 to determine the expenses for the United States retirement plan and Canadian retirement plan were 4.26% and 4.30%, respectively. The discount rates used in 2014 to determine the benefit obligations for the United States and Canadian defined benefit pension plans were both 5.00%.

No material amounts are expected to be reclassified from accumulated other comprehensive loss to be recognized as components of net income during 2016.

Plan Contributions and Expected Benefit Payments

During 2016, the Company expects to contribute $3.2 million to the Company's Plans from available cash and cash equivalents.

The following table presents estimated future benefit payments:



(in millions)
Fiscal 2016	$	0.9
Fiscal 2017	0.9
Fiscal 2018	1.0
Fiscal 2019	1.0
Fiscal 2020	1.1
Fiscal 2021 ‑ Fiscal 2025	6.5

Pension Plan Asset Information

Investment Objective and Strategies. The Company's investment objectives are to minimize the volatility of the value of the Company's pension assets relative to pension liabilities and to ensure assets are sufficient to pay plan benefits. Target and actual asset allocations are as follows:



	2015 Target		2015 Actual
Common/collective trust consisting primarily of:
Equity securities	60.00	%	74.83	%
Debt securities	40.00	%	21.03	%
Other	—	%	4.14	%
Total plan assets	100.00	%	100.00	%

Investment strategies and policies reflect a balance of risk-reducing and return‑seeking considerations. The objective of minimizing the volatility of assets relative to liabilities is addressed primarily through asset diversification. Assets are broadly diversified across many asset classes to achieve risk-adjusted returns that, in total, lower asset volatility relative to liabilities. The Company's policy to rebalance the Company's investment regularly ensures that actual allocations are in line with target allocations as appropriate.

Strategies to address the goal of ensuring sufficient assets to pay benefits include target allocations to a broad array of asset classes that provide return, diversification and liquidity.

The plan investment fiduciaries are responsible for setting asset allocation targets, and monitoring asset allocation and investment performance. The Company’s pension investment manager has discretion to manage assets to ensure compliance with the asset allocations approved by the plan fiduciaries.

Significant Concentrations of Risk

Significant concentrations of risk in the Company's plan assets relate to equity, interest rate, and operating risk. In order to ensure assets are sufficient to pay benefits, a portion of plan assets is allocated to equity investments that are expected, over time, to earn higher returns with more volatility than fixed income investments which more closely match pension liabilities. Within the common/collective trusts, the plan assets contain no significant concentrations of risk related to individual securities or industry sectors.

In order to minimize asset volatility relative to the liabilities, a portion of plan assets are allocated to fixed income investments that are exposed to interest rate risk. Rate increases will generally result in a decline in fixed income assets while reducing the present value of the liabilities. Conversely, rate decreases will increase fixed income assets, partially offsetting the related increase in the liabilities.

Operating risks primarily include the risks of inadequate diversification and insufficient oversight. To mitigate this risk, investments are diversified across and within asset classes in support of investment objectives. Policies and practices to address operating risks include ongoing oversight, plan and asset class investment guidelines, and periodic reviews to these guidelines to ensure adherence.

Expected Long-Term Return on Plan Assets

The expected long-term return assumption at December 31, 2015 was 7.00% for the defined benefit pension plan for U.S. Sealy Employees and 5.50% for the defined benefit pension plan for Sealy Canada Ltd. The expected long-term return assumption is based on historical and projected rates of return for current and planned asset classes in the plan’s investment portfolio. The assumption considers various sources, primarily inputs from advisors for long-term capital market returns, inflation, bond yields, and other variables, adjusted for specific aspects of our investment strategy by plan.

The investments in plan assets primarily consist of common collective trusts and money market funds. Investments in mutual funds and money market funds are valued at the net asset value per share or unit multiplied by the number of shares or units held as of the measurement date. The fair value of the Company’s plan assets at December 31 by asset category was as follows:



(in millions)	2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Category
Common/collective trust
U.S. equity	$	7.7	$	—	$	7.7	$	—
International equity	2.7		—		2.7		—
Total equity based funds	10.4		—		10.4		—
Common/collective trust - fixed income	2.9		—		2.9		—
Money market funds	0.6		—		0.6		—
Total	$	13.9	$	—	$	13.9	$	—



(in millions)	2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Category
Common/collective trust
U.S. equity	$	19.6	$	—	$	19.6	$	—
International equity	5.2		—		5.2		—
Total equity based funds	24.8		—		24.8		—
Common/collective trust - fixed income	7.0		—		7.0		—
Money market funds	0.7		—		0.7		—
Total	$	32.5	$	—	$	32.5	$	—

Common/collective trusts are valued at the net asset value ("NAV") per share multiplied by the number of shares held as of the measurement date. The determination of net asset value for the common/collective trusts includes market pricing of the underlying assets as well as broker quotes and other valuation techniques that represent fair value as determined by the respective administrator of the common/collective trust. Management has determined that the NAV is an appropriate estimate of the fair value of the commingled investments funds at December 31, 2015 and 2014, based on the fact that the common/collective trusts are audited and accounted for at fair value by the administrators of the respective common/collective trusts. Because the Company has the ability to redeem its investment in the respective alternative investment at the net asset value with no significant restrictions on the redemption at the consolidated balance sheet date, the Company has categorized the alternative investment as a Level 2 measurement in the fair value hierarchy. The methods described above may produce a fair value that may not be indicative of net realizable value or reflective of future fair value. Furthermore, while the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the consolidated balance sheet dates.

Multi‑Employer Benefit Plans

Approximately 68.0% of the Company’s domestic employees are represented by various labor unions with separate collective bargaining agreements. Hourly employees working at eight of the Company’s domestic manufacturing facilities are covered by union sponsored retirement plans. Further, employees working at three of the Company’s domestic manufacturing facilities are covered by union sponsored health and welfare plans. These plans cover both active employees and retirees. Through the health and welfare plans, employees received medical, dental, vision, prescription and disability coverage. The Company’s cost associated with these plans consists of periodic contributions to these plans based upon employee participation. The expense recognized by the Company for such contributions for the years ended December 31 were as follows:



(in millions)	2015		2014
Multi‑employer retirement plan expense	$	5.0	$	4.7
Multi‑employer health and welfare plan expense	2.4		2.2

The risks of participating in multi‑employer pension plans are different from the risks of participating in single‑employer pension plans in the following respects: 1) contributed to the multi‑employer plan by one employer may be used to provide benefits to employees of other participating employers; 2) a participating employer ceases its contributions to the plan, the unfunded obligations of the plan allocable to the withdrawing employer may be borne by the remaining participant employers and 3) the Company withdraws from the multi‑employer pension plans in which it participates, the Company may be required to pay those plans an amount based on its allocable share of the underfunded status of the plan.

The following table presents information regarding the multi‑employer pension plans that are significant to the Company for the year ended December 31, 2015 and 2014, respectively:

(in millions)

Pension Fund

EIN/Pension Plan Number

Pension Protection Act
Zone Status⁽¹⁾2015

FIP/RP Status
Pending/Implemented⁽²⁾

Contributions of the Company 2015

Surcharge Imposed⁽³⁾

Expiration Date
of Collective
Bargaining Agreement

Year Contributions to Plan Exceeded More than 5 Percent of Total Contributions

United Furniture Workers Pension Fund A⁽⁴⁾

13-5511877-001

Red

Implemented

1.1

Yes, 10%

2016

2013, 2014, 2015

Pension Plan of the National Retirement Fund

13-6130178-001

Red

Implemented

1.2

Yes, 10%

2016

N/A

Central States, Southeast & Southwest Areas Pension Plan

36-6044243-001

Red

Implemented

0.5

Yes, 10%

2016

N/A

(in millions)

Pension Fund

EIN/Pension Plan Number

Pension Protection Act
Zone Status⁽¹⁾ 2014

FIP/RP Status
Pending/Implemented⁽²⁾

Contributions of the Company 2014

Surcharge Imposed⁽³⁾

Expiration Date
of Collective
Bargaining Agreement

Year Contributions to Plan Exceeded More than 5 Percent of Total Contributions

United Furniture Workers Pension Fund A⁽⁴⁾

13-5511877-001

Red

Implemented

0.9

Yes, 10.0%

2016 and 2017

2013, 2014

Pension Plan of the National Retirement Fund

13-6130178-001

Red

Implemented

1.1

Yes, 10.0%

2016

N/A

Central States, Southeast & Southwest Areas Pension Plan

36-6044243-001

Red

Implemented

0.4

Yes, 10.0%

2015

N/A

(1)

The Pension Protection Act of 2006 ranks the funded status of multi-employer pension plans depending upon a plan’s current and projected funding. A plan is in the Red Zone (Critical) if it has a current funded percentage less than 65.0%. A plan is in the Yellow Zone (Endangered) if it has a current funded percentage of less than 80.0%, or projects a credit balance deficit within seven years. A plan is in the Green Zone (Healthy) if it has a current funded percentage greater than 80.0% and does not have a projected credit balance deficit within seven years. The zone status is based on the plan’s year end rather than the Company’s. The zone status listed for each plan is based on information that the Company received from that plan and is certified by that plan’s actuary for the most recent year available.


(2)	Funding Improvement Plan or Rehabilitation Plan as defined in the Employment Retirement Security Act of 1974 has been implemented or is pending.


(3)	Indicates whether the Company paid a surcharge to the plan in the most current year due to funding shortfalls and the amount of the surcharge.


(4)	The Company represented more than 5.0% of the total contributions for the most recent plan year available.

Stockholders' Equity

12 Months Ended

Dec. 31, 2015

Stockholders' Equity Note [Abstract]

Stockholders' Equity

(a) Common Stock. Tempur Sealy International has 300.0 million authorized shares of common stock with $0.01 per share par value and 0.01 million authorized shares of preferred stock with $0.01 per share par value. The holders of the common stock are entitled to one vote for each share held of record on all matters submitted to a vote of stockholders. Subject to preferences that may be applicable to any outstanding preferred stock, holders of 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 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.

The Board of Directors is authorized, subject to any limitations prescribed by law, without further vote or action by the stockholders, to issue from time to time shares of preferred stock in one or more series. Each such series of preferred stock will have such number of shares, designations, preferences, voting powers, qualifications, and special or relative rights or privileges as determined by the Board of Directors, which may include, among others, dividend rights, voting rights, redemption and sinking fund provisions, liquidation preferences, conversion rights and preemptive rights.

(b) Treasury Stock. Tempur Sealy International sold 69,686 shares of Common Stock pursuant to a subscription agreement entered into with the Company's CEO in connection with his hiring by the Company. These shares were issued through treasury stock and the Company received $5.0 million as proceeds from the issuance of the treasury shares from the CEO. Please refer to "Recent Sales of Unregistered Securities" included in Part II, ITEM 5 for additional information.



	Year Ended December 31,
(in millions)	2015			2014			2013
Foreign Currency Translation
Balance at beginning of period	$	(54.0	)	$	(15.6	)	$	(5.0	)
Other comprehensive (loss) income:
Foreign currency translation adjustments ⁽¹⁾	(61.4		)	(38.4		)	(13.3		)
Tax benefit ⁽¹⁾	—			—			2.7
Balance at end of period	$	(115.4	)	$	(54.0	)	$	(15.6	)

Interest Rate Swap Agreement
Balance at beginning of period	$	(0.7	)	$	(1.4	)	$	(2.7	)
Other comprehensive income:
Net change from period revaluations:	3.1			3.0			5.2
Tax expense ⁽²⁾	(1.2		)	(1.2		)	(1.5		)
Total other comprehensive income before reclassifications, net of tax	1.9			1.8			3.7
Net amount reclassified to earnings ⁽³⁾	(1.9		)	(1.9		)	(3.2		)
Tax benefit ⁽²⁾	0.7			0.8			0.8
Total amount reclassified from accumulated other comprehensive loss, net of tax	(1.2		)	(1.1		)	(2.4		)
Total other comprehensive income	0.7			0.7			1.3
Balance at end of period	$	—		$	(0.7	)	$	(1.4	)

Pension Benefits
Balance at beginning of period	$	(2.4	)	$	3.2		$	—
Other comprehensive income:
Net change from period revaluations:	0.2			(9.0		)	5.2
Tax (expense) benefit ⁽²⁾	—			3.4			(2.0		)
Total other comprehensive income (loss) before reclassifications, net of tax	0.2			(5.6		)	3.2
Net amount reclassified to earnings	$	1.3		$	—		$	—
Tax benefit⁽²⁾	(0.5		)	—			0.0
Total amount reclassified from accumulated other comprehensive income, net of tax	0.8			—			—
Total other comprehensive income (loss)	1.0			(5.6		)	3.2
Balance at end of period	$	(1.4	)	$	(2.4	)	$	3.2

Foreign Exchange Forward Contracts
Balance at beginning of period	$	1.3		$	—		$	—
Other comprehensive income (loss):
Net change from period revaluations:	14.6			3.4			—
Tax expense ⁽²⁾	(3.8		)	(0.9		)	—
Total other comprehensive income before reclassifications, net of tax	10.8			2.5			—
Net amount reclassified to earnings ⁽⁴⁾	(7.4		)	(1.6		)	—
Tax benefit ⁽²⁾	1.9			0.4			—
Total amount reclassified from accumulated other comprehensive income, net of tax	(5.5		)	(1.2		)	—
Total other comprehensive income	5.3			1.3			—
Balance at end of period	$	6.6		$	1.3		$	—


(1)	In 2015, 2014 and 2013, there were no tax impacts related to foreign currency translation adjustments and no amounts were reclassified to earnings. In 2012, a $2.7 million tax impact was recorded which reversed in 2013.


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


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


(4)	This amount was included in cost of sales, net on the accompanying Consolidated Statements of Income.

- 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 235
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-Paragraph 1
-Subparagraph (SX 210.4-08.(d),(e))
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
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-Topic 210
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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Reference 11: 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 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 4
-Section C

+ Details

Stock-based Compensation

12 Months Ended

Dec. 31, 2015

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

Stock-based Compensation

Tempur Sealy International has two stock-based compensation plans which provide for grants of non-qualified and incentive stock options, stock appreciation rights, restricted stock and stock unit awards, performance shares, stock grants and performance based awards to employees, non-employee directors, consultants and Company advisors. The plan under which equity awards may be granted in the future is the 2013 Equity Incentive Plan (the "2013 Plan"). It is the policy of the Company to issue stock out of treasury shares upon issuance or exercise of share-based awards. The Company believes that awards and purchases made under these plans better align the interests of the plan participants with those of its stockholders.

The 2013 Plan was adopted on May 22, 2013 by the Company’s Board of Directors, and provides for grants of stock options to purchase shares of common stock to employees and directors of the Company. The 2013 Plan may be administered by the Compensation Committee of the Board of Directors, by the Board directly, or, in certain cases, by an executive officer or officers of the Company designated by the Compensation Committee. The shares issued or to be issued under the 2013 Plan may be either authorized but unissued shares of the Company’s common stock or shares held by the Company in its treasury. Tempur Sealy International will issue a maximum of 5.1 million shares of common stock under the 2013 Plan, subject to certain adjustment provisions.

The Amended and Restated 2003 Equity Incentive Plan, as amended (the “2003 Plan”), was administered by the Compensation Committee of the Board of Directors, which, together with the Board of Directors, had the exclusive authority to administer the 2003 Plan, including the power to determine eligibility to receive awards, the types and number of shares of stock subject to the awards, the price and timing of awards and the acceleration or waiver of any vesting and performance of forfeiture restrictions, in each case subject to the terms of the 2003 Plan. Any of the Company’s employees, non-employee directors, consultants and Company advisors, as determined by the Compensation Committee, were eligible to be selected to participate in the 2003 Plan. Tempur Sealy International allowed a maximum of 11.5 million shares of its common stock under the 2003 Plan to be issued. In May 2013 the Company's Board of Directors adopted a resolution that prohibited further grants under the 2003 Plan.

In 2010, the Board of Directors approved the terms of a Long-Term Incentive Plan established under the 2003 Plan. In 2013, the Board of Directors approved the terms of another Long-Term Incentive Plan established under the 2013 Plan. Awards under both Long-Term Incentive Plans have typically consisted primarily of a mix of stock options and performance restricted stock units ("PRSUs"). Shares with respect to the PRSUs will be granted and vest following the end of the applicable performance period and achievement of applicable performance metrics as determined by the Compensation Committee of the Board of Directors.

The Company’s stock-based compensation expense for the year ended December 31, 2015 included PRSUs, stock options, restricted stock units ("RSUs") and deferred stock units ("DSUs"). A summary of the Company’s stock-based compensation expense is presented below:



	December 31,
(in millions)	2015		2014		2013
PRSU expense	$	13.7	$	3.5	$	3.0
Stock option expense	6.6		7.0		8.3
RSU/DSU expense	2.2		2.9		5.6
Total stock-based compensation expense	$	22.5	$	13.4	$	16.9

The Company granted PRSUs during the years ended December 31, 2015, 2014 and 2013. Actual payout under the PRSUs is dependent upon the achievement of certain financial goals. The Company recorded a benefit in the accompanying Consolidated Statements of Income of $3.0 million for the year ended December 31, 2014 after re-evaluation of the probability of meeting certain required performance goals and determining that the performance goals would not be met. The Company did not record any similar benefits in 2015 or 2013.

A summary of the Company’s PRSU activity and related information for the years ended December 31, 2015 and 2014 is presented below:



(shares in millions)	Shares		Weighted Average Grant Date Fair Value
Awards unvested at December 31, 2013	0.3		$	39.04
Granted	0.3		51.87
Vested	0.0		37.05
Forfeited	(0.3	)	39.38
Awards unvested at December 31, 2014	0.3		$	53.45
Granted	1.7		70.43
Vested	—		—
Forfeited	(0.1	)	56.74
Awards unvested at December 31, 2015	1.9		$	68.17

On September 4, 2015, in connection with the hiring of Scott L. Thompson as the new CEO, the Company and Mr. Thompson entered into an agreement by which the Company granted Mr. Thompson 620,000 PRSUs that vest if the Company achieves more than $650 million Adjusted EBITDA for 2017 (the "2017 Aspirational Plan PRSUs"). All of the 2017 Aspirational Plan PRSUs will vest in full if the Company achieves Adjusted EBITDA in 2017 greater than $650 million. In addition, if this target is not met in 2017 but the Company achieves more than $650 million in Adjusted EBITDA for 2018, then one-third of the total 2017 Aspirational Plan PRSUs will vest, and the remaining 2017 Aspirational Plan PRSUs will be forfeited. If the Company does not achieve more than $650 million of Adjusted EBITDA in either 2017 or 2018, then all of the 2017 Aspirational Plan PRSUs will be forfeited. Adjusted EBITDA is defined as the Company’s “Consolidated EBITDA” as such term is defined in the Company’s 2012 Credit Agreement. Based on the price of the Company’s common stock on the grant date, the total unrecognized compensation expense related to this award if the performance target is met for 2017 is $44.5 million, which would be expensed over the service period if it becomes probable of achieving the performance condition.

Additionally, during the fourth quarter, the Company granted certain other senior executives and key employees a total of 770,000 2017 Aspirational Plan PRSUs with substantially the same terms as the 2017 Aspirational Plan PRSUs issued to the CEO as described above. Based on the price of the Company’s common stock on the respective grant dates, the total unrecognized compensation expense related to these awards if the performance target is met for 2017 is $56.6 million, which would be expensed over the service period if it becomes probable of achieving the performance condition.

The Company did not record any stock-based compensation expense related to the 2017 Aspirational Plan PRSUs during the twelve months ended December 31, 2015, as it is not considered probable as of this date that the Company will achieve the specified performance target as of December 31, 2017 or December 31, 2018. The Company will continue to evaluate the probability of achieving the performance condition going forward and record the appropriate expense if necessary.

The following table shows the PRSUs granted under the 2013 Plan and related Long-Term Incentive Plan, the maximum number of shares to be awarded under the PRSUs granted during the twelve months ended December 31, 2015 and the performance date and vesting schedule of the PRSUs granted.



(shares in millions)
Number of Shares Granted	Maximum Number of Shares to be Awarded	Performance Date	Vesting Schedule
0.26	0.78	December 31, 2017	December 31, 2017
1.39	1.39	December 31, 2017⁽¹⁾	December 31, 2017⁽¹⁾
0.07	0.07	December 31, 2016	Three annual installments beginning on September 4, 2016



(1)	These shares will vest in full if the Company achieves the performance metric per the award agreement in 2017. In addition, if this target is not met in 2017 but the Company achieves the performance metric in 2018, then one-third, or 0.46 million, of the PRSUs will vest, and the remaining PRSUs shall be forfeited.

During the year ended December 31, 2015, no shares were issued from treasury stock to satisfy payouts under the PRSUs. During the year end December 31, 2014, shares of common stock with an aggregate intrinsic value of $1.4 million were issued from treasury stock to satisfy payouts under the PRSUs following the satisfaction of certain financial metrics over the one year performance period. The shares were issued from treasury stock to satisfy payouts under the PRSUs at 100.0% of the target award, the maximum payout. During the year ended December 31, 2013, shares granted in 2010 with an aggregate intrinsic value of $14.9 million were paid out from treasury stock following the satisfaction of certain financial metrics over the performance period. The PRSUs were paid out from treasury stock at 282.0% of the target award, out of a maximum payout of 300.0%. The aggregate intrinsic value of PRSUs outstanding as of December 31, 2015 was $13.9 million.

The Company uses the Black-Scholes option pricing model to calculate the fair value of stock options granted. The assumptions used in the Black-Scholes pricing model for the years ended December 31, 2015, 2014 and 2013 are set forth in the following table. Expected volatility is based on the unbiased standard deviation of Tempur Sealy International’s common stock over the option term. The expected life of the options represents the period of time that the Company expects the options granted to be outstanding. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of the grant of the option for the expected term of the instrument. The dividend yield reflects an estimate of dividend payouts over the term of the award. The Company uses historical data to determine these assumptions.



	Year Ended
	December 31,
	2015	2014	2013
Expected volatility range of stock	34.0% - 36.2%	56.7% - 66.5%	63.0% - 72.8%
Expected life of option, range in years	3 - 5	2 - 4	2 - 3
Risk-free interest range rate	0.9% - 1.5%	0.4% - 1.4%	0.3% - 0.6%
Expected dividend yield on stock	0.0% - 0.0%	0.6% - 0.7%	0.6% - 0.9%

A summary of the Company’s unvested shares relating to stock options as of December 31, 2015 and 2014, and changes during the years ended December 31, 2015 and 2014, are presented below:



(shares in millions)	Shares		Weighted Average Grant Date Fair Value
Options unvested at December 31, 2013	0.6		$	42.16
Granted	0.2		52.08
Vested	(0.3	)	42.46
Forfeited	0.0		50.53
Options unvested at December 31, 2014	0.5		$	46.23
Granted	0.8		63.55
Vested	(0.4	)	44.25
Forfeited	(0.1	)	57.12
Options unvested at December 31, 2015	0.8		$	62.34

A summary of the Company’s stock option activity under the 2003 Plan and 2013 Plan for the years ended December 31, 2015 and 2014 is presented below:



(shares in millions)	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Options outstanding at December 31, 2013	2.8		$	21.73
Granted	0.2		52.08
Released	(0.2	)	20.82
Forfeited	0.0		50.53
Options outstanding at December 31, 2014	2.8		$	24.18
Granted	0.8		63.55
Released	(1.4	)	14.70
Forfeited	(0.1	)	57.12
Options outstanding at December 31, 2015	2.1		$	42.75	6.47	$	53.4

Options exercisable at December 31, 2015	1.3		$	31.11	4.85	$	52.0

The aggregate intrinsic value of options exercised during the years ended December 31, 2015, 2014 and 2013 was $71.8 million, $6.7 million and $17.1 million, respectively.

A summary of the Company's RSU and DSU activity and related information for the years ended December 31, 2015 and 2014 is presented below:



(in millions, except release price and years)	Shares		Weighted Average Release Price		Aggregate Intrinsic Value
Awards outstanding at December 31, 2013	0.2		$	47.00
Granted	0.0		54.56
Vested	(0.1	)	44.47
Terminated	0.0		46.77
Awards outstanding at December 31, 2014	0.1		$	50.41
Granted	0.1		70.44
Vested	(0.1	)	58.73
Terminated	0.0		49.63
Awards outstanding at December 31, 2015	0.1		$	66.41	$	11.9

At December 31, 2015, the Company had 0.1 million of unvested DSUs/RSUs. The aggregate intrinsic value of RSU and DSUs vested during the year ended December 31, 2015 was $4.0 million.

Excluding the estimated compensation expense related to the 2017 Aspirational Plan PRSUs discussed above, a summary of total unrecognized stock-based compensation expense based on current performance estimates related to the options, DSUs, RSUs and PRSUs granted during the year ended December 31, 2015 is presented below:



(in millions, except years)	December 31, 2015		Weighted Average Remaining Vesting Period (Years)
Unrecognized stock option expense	$	9.2	2.49
Unrecognized DSU/RSU expense	7.9		2.59
Unrecognized PRSU expense	10.9		2.29
Total unrecognized stock-based compensation expense	$	28.0	2.44

Cash received from options exercised under all stock-based compensation plans, including cash received from options issued from treasury shares for the years ended December 31, 2015, 2014 and 2013 was $20.4 million, $4.3 million, and $8.7 million, respectively.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2015

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

(a) Lease Commitments. The Company has various operating leases that call for annual rental payments due in equal monthly installments and a lease with a rent free occupancy period. The Company’s policy is to recognize expense for lease payment, including those with escalating provisions and rent free periods, on a straight-line basis over the lease term. Operating lease expenses were $41.4 million, $32.3 million, and $25.5 million for the years ended December 31, 2015, 2014 and 2013, respectively.

Future minimum lease payments at December 31, 2015 under these non-cancelable leases are as follows:



(in millions)
Year Ended December 31,
2016	$	27.3
2017	23.3
2018	20.8
2019	18.4
2020	16.5
Thereafter	40.3
	$	146.6

The Company has the option to renew certain plant operating leases, with the longest renewal period extending through 2043. Certain of the operating leases provide for increased rent through increases in general price levels. The Company recognizes rent expense in these situations on a straight-line basis over the lease term.

(b) 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 to the Company as of December 31, 2015 and December 31, 2014.

(c) 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 stockholders who purchased the Company’s stock between January 25, 2012 and June 5, 2012. The complaints asserted 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 sought 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 with prejudice the consolidated complaint. The Court issued its memorandum of opinion and entered final judgment on May 23, 2014. On June 6, 2014, the plaintiffs filed a notice of appeal in the U.S. Court of Appeals for the Sixth Circuit ("Appeals Court"). Following oral argument, the Appeals Court issued an order on June 4, 2015, ruling in favor of the Company. The Plaintiff had until September 2, 2015 to file a petition seeking review by the United States Supreme Court. The Plaintiff did not file for review, therefore this matter has now been resolved in the Company's favor.

(d) 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. On June 27, 2013, an appraisal proceeding was commenced in the Delaware Court of Chancery (the “Appraisal Action”). This matter was settled on March 13, 2015. Sealy paid $2.20 per share for the Sealy common stock formerly held by the former Sealy stockholders seeking the appraisal, plus interest at the statutory rate, less $0.6 million already received in 2013 by one of the petitioners in connection with the closing of the Sealy Acquisition. The agreed upon per share value of $2.20 is equal to the amount paid to non-dissenting stockholders at the time of the closing of the Sealy Acquisition.

(e) 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. The Court was scheduled to consider class certification motions in the fourth quarter of 2015; however, the Plaintiff’s filed a Motion to Amend the Complaint, at which time the Company filed a Motion to Dismiss the Amended Complaint. A hearing on the Motion to Dismiss was held January 28, 2016 and the Court denied in part and granted in part the Company’s Motion to Dismiss allowing certain claims to proceed. The outcome of this case remains 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.

(f) German Regulatory Investigation. The German Federal Cartel Office ("FCO") conducted unannounced inspections of the premises of several mattress wholesaler/manufacturers including the Company's German subsidiary. The order permitting the inspection and collection of records alleged “vertical price fixing”. The parties met during 2015 and negotiated a final settlement in October 2015. Under the terms of the settlement, in 2015 the Company paid approximately €15.5 million (approximately $17.4 million) to fully resolve this matter. The Company recognized expense of $17.4 million (€15.5 million), which is presented within other expense (income), net in the accompanying Consolidated Statements of Income for the year ended December 31, 2015.

(g) 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 does not believe this matter is material to the Company's financial statements.

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. 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 Company is continuing to work with the Connecticut DEEP and is performing additional testing to obtain closure for the lower portion of the site. The Company does not believe the contamination on this site is attributable to the Company’s operations, nor will have a material effect on the Company's financial statements.

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.

The Company cannot predict the ultimate timing or costs of the South Brunswick, Oakville and Putnam 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.

(h) Income Tax Assessments. The Company has received income tax assessments from SKAT. The Company believes the process to reach a final resolution of this matter could potentially extend over a number of years. If the Company is not successful in defending its position that its owes no additional taxes, the Company could be required to pay a significant amount to SKAT. In addition, the Company could choose to pursue a settlement with SKAT, which could also require the Company to pay significant amounts to SKAT in excess of any related reserve. Each of these outcomes could have a material adverse impact on the Company's results of operations and cash flows. In addition, prior to any ultimate resolution of this issue before the Tribunal or the Danish courts, or a settlement of the matter with SKAT, based on a change in facts and circumstances, the Company may be required to further increase its uncertain tax liability associated with this matter, which could have a material impact on the Company's reported earnings. For a description of these assessments and additional information with respect to these assessments and the various related legal proceedings, see Note 14, “Income Taxes”.

(i) 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.

Income Taxes

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Income Taxes

The Company’s effective income tax provision differs from the amount calculated using the statutory U.S. federal income tax rate, principally due to the following:



	Year Ended December 31,
	2015					2014					2013
(dollars in millions)	Amount			Percentage of Income Before Income Taxes		Amount			Percentage of Income Before Income Taxes		Amount			Percentage of Income Before Income Taxes
Statutory U.S. federal income tax	$	70.0		35.0	%	$	61.2		35.0	%	$	44.8		35.0	%
State income taxes, net of federal benefit	1.1			0.6	%	1.1			0.6	%	1.7			1.3	%
Foreign repatriation, net of foreign tax credits	0.0			0.0	%	13.5			7.7	%	(16.0		)	(12.6	)%
Foreign tax differential	(10.0		)	(5.0	)%	(12.6		)	(7.2	)%	(12.3		)	(9.6	)%
Change in valuation allowances	2.5			1.2	%	(17.7		)	(10.0	)%	20.4			15.9	%
Uncertain tax positions	59.7			29.8	%	10.9			6.1	%	4.7			3.7	%
Subpart F income	1.9			1.0	%	1.9			1.1	%	1.5			1.2	%
Manufacturing deduction	(1.6		)	(0.8	)%	(3.7		)	(2.1	)%	0.1			—	%
Goodwill on disposal of business	0.0			0.0	%	7.5			4.2	%	—			—	%
Permanent and other	1.8			0.9	%	2.8			1.7	%	4.2			3.5	%
Effective income tax provision	$	125.4		62.7	%	$	64.9		37.1	%	$	49.1		38.4	%

Subpart F income represents interest and royalties earned by a foreign subsidiary as well as sales made by certain foreign subsidiaries outside of their country of incorporation. Under the Internal Revenue Code of 1986, as amended (the "Code"), such income is taxable to Tempur Sealy International as if earned directly by Tempur Sealy International.

In conjunction with the Sealy Acquisition, the Company repatriated substantially all of its current and accumulated foreign earnings associated with the legacy Tempur foreign subsidiaries in a taxable transaction. The Company had previously tax effected those earnings and at December 31, 2012 had recorded a $48.1 million deferred tax liability on such earnings. As a result of the Sealy Acquisition, the Company recognized the benefit of certain foreign tax credit attributes associated with Sealy’s foreign subsidiaries’ earnings. These foreign tax credits could not be taken into account in calculating the Company’s tax on the book to tax basis difference of its foreign subsidiaries until the Sealy Acquisition closed. As a result of the taxable transaction and taking into consideration the application of these foreign tax credits, the Company has recognized cumulative tax on the repatriation transaction of approximately $63.9 million.

At December 31, 2015, the Company’s book tax basis in its top tier foreign subsidiary exceeded the Company’s tax basis in such subsidiary in the hands of the top tier foreign subsidiary U.S. shareholder. It is the Company’s intent to permanently reinvest the earnings of this foreign subsidiary back into its operations. As such, no deferred tax liability has been recorded related to this basis difference. As it relates to the book to tax basis difference with respect of the stock of each of the Company’s lower tier foreign subsidiaries, as a general matter, the book basis exceeds the tax basis in the hands of the foreign subsidiary shareholder. By operation of the tax laws of the various countries in which such subsidiaries are domiciled, earnings of lower tier foreign subsidiaries are not subject to tax, in all material respects, when distributed to the foreign shareholder. It is the Company’s intent that the earnings of each lower tier foreign subsidiary, with the exception of its Danish subsidiary, will be permanently reinvested in its own operations. As it relates to the Danish subsidiary, its earnings may be distributed without any income tax impact in any case. Thus, no tax is provided for with respect to the book to tax basis difference of its stock.

The Company has received income tax assessments from 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. subsidiary 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. subsidiary 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 cumulative total tax assessment at December 31, 2015 for all years for which an assessment has been received (2001 - 2008) is approximately Danish Krone ("DKK") 1,363.1 million, including interest and penalties ($199.6 million, based on the DKK to USD exchange rate on December 31, 2015). The cumulative total tax assessment at December 31, 2014 for all years for which an assessment had been received up through that date (2001 - 2008) including interest and penalties was approximately DKK 1,317.2 million ($215.1 million, based on the DKK to USD exchange rate on December 31, 2014). The increase of DKK 45.9 million is due to additional interest for the period between December 31, 2014 and December 31, 2015. As of December 31, 2015 and 2014, SKAT had granted the deferral to 2017 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. In addition, during the quarter ended June 30, 2014, the Company was granted a deferral to 2018 of the requirement to post a cash deposit or other form of security for taxes that have been assessed for 2008. From June 2012 through December 31, 2015 SKAT has withheld refunds of VAT otherwise owed to the Company, pending resolution of this matter. The total amount of withheld refunds at December 31, 2015 and 2014 is approximately $26 million and $15 million, respectively. This amount is included in other non-current assets on the Consolidated Balance Sheets.

The Company filed timely protests with the Danish National Tax Tribunal (the "Tribunal") challenging the tax assessments. The Tribunal formally agreed to place the Tribunal process on hold pending the outcome of a Bilateral Advance Pricing Agreement ("Bilateral APA") between the United States and SKAT, which the Company filed in the third quarter of 2008. 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. In February 2013, as part of the Bilateral APA process, 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. The Company believes it has meritorious defenses to the proposed assessments and plans to oppose the assessments before the Tribunal and in the Danish courts in the event the Company does not resolve this matter outside of litigation.

As part of the Tribunal process, the Tribunal assigned an individual to serve as a case manager on the matter. It is the responsibility of the case manager to gather data from both SKAT and the Company and independently evaluate such data. Beginning in April 2014, the Company provided information to the case manager. The output of the case manager’s evaluation is a non-binding recommendation made to the Tribunal on how the case manager believes the Tribunal should decide the issues. In the first half of 2015 the case manager issued a preliminary, non-binding recommendation in favor of each of SKAT’s annual assessments received by the Company. In June 2015, at the request of the case manager, the Company submitted additional information in response to the preliminary recommendation. In the submission, the Company reiterated its strong objection to SKAT’s position and SKAT’s assessments and reiterated the merits of the Company’s position. The Company had expected the case manager to issue the final non-binding recommendation to the Tribunal before the end of 2015; however, a final recommendation has not yet been received, and the issuance of such recommendation has been postponed as described below.

During 2015, the Company engaged third-party advisors to assist the Company in further evaluating this matter to determine whether the Company should re-enter negotiations with SKAT. The additional analysis provided the Company with information to evaluate the options available to the Company to resolve this matter, through litigation or through a negotiated settlement, in light of the case manager’s preliminary, non-binding recommendation and the current tax litigation environment in Denmark. Upon evaluation of the advisor’s analysis, which was substantially completed in the fourth quarter of 2015, the Company concluded that it should discuss with SKAT the possibility of formally resuming negotiations on this matter. As a result, the Company met with SKAT in November 2015 to discuss the results of the third-party advisor's analysis and to outline a process to resume negotiations.

In November 2015, the Company and its advisors met with SKAT to discuss various matters relating to the assessment. During this meeting, the Company provided general information regarding the output of the analysis of the Company's advisor as well as additional analyses prepared by the Company as a framework for further discussions with SKAT. SKAT and the Company agreed to continue the dialogue regarding a potential negotiated settlement into the future. In anticipation of continuing dialogue with SKAT on this matter, the Company continues to collect and analyze additional information with the assistance of the third-party advisors as well as discussing the tax litigation environment in Denmark with its Danish legal counsel.

In December 2015, in response to a request by both the Company and SKAT the Tribunal agreed to delay the continuance of its process, including the issuance by the case manager of his final non-binding recommendation until the second quarter of 2016. The Company expects that it will continue its discussions with SKAT during this period.

To date, the Company has received an assessment every year for the next year in the examination cycle. In this regard, the Company had expected to receive an assessment for the year 2009 in the second half of 2015. However, SKAT agreed to delay the issuance of the 2009 assessment until the second quarter of 2016 pending the progress of the discussions with the Company that had resumed in November 2015. If this matter is not resolved or if sufficient progress is not being made, the Company expects that SKAT will issue the 2009 assessment in the second quarter of 2016 as well as its assessment for 2010. Further, in this event the Company would expect to receive an assessment for 2011 in the second quarter of 2017, the 2012 assessment in the second quarter of 2018, and so forth. The Company expects the aggregate assessments for the years 2009 - 2015 to be in excess of the amounts described above as assessed for the years 2001 - 2008.

As the result of the Tribunal case manager’s preliminary non-binding recommendation, the analyses prepared by the Company and its third-party advisors, and the evaluation of the increased risk of tax litigation in Denmark the Company has updated its analysis of this uncertain tax position in accordance with ASC 740 and has recorded a change in estimate to increase the uncertain tax liability for this item by approximately $60.7 million, from $18.9 million recorded at December 31, 2014 to $79.6 million recorded at December 31, 2015.

The Company’s uncertain tax liability associated with this matter is derived using the cumulative probability analysis as required by ASC 740 with possible outcomes based on the Company's updated evaluation of the facts and circumstances regarding this matter and applying the technical requirements applicable to U.S., Danish, and international transfer pricing standards as required by GAAP, taking into account both the U.S. and Danish income tax implications of such outcomes.

In conjunction with this tax examination discussed above, during the year ended December 31, 2013 the Company received correspondence from SKAT requesting information regarding the royalty for the years 2009 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 2013, the Company and SKAT agreed that the examination of this issue for the years 2009 - 2011 would be placed on hold pending the outcome of the Tribunal process above for the years 2001 - 2008, although SKAT would continue to issue assessments as described above.

If the Company is not successful in defending its position before the Tribunal or in the Danish courts or in negotiating a mutually acceptable settlement, there is significant risk that the Company could be required to pay significant amounts to SKAT in excess of any related reserve. In addition, the Company could choose to pursue a settlement with SKAT, which could also require the Company to pay significant amounts to SKAT in excess of any related reserve in order to resolve this matter without litigation. Either of these outcomes could have a material adverse impact on the Company’s profitability and liquidity. In addition, prior to any ultimate resolution of this issue before the Tribunal or the Danish courts, based on a change in facts and circumstances, the Company may be required to further increase its uncertain tax liability associated with this matter, which could have a material impact on the Company's reported earnings.

As it relates to SKAT’s examination of other items, particularly transactions between the Company’s Danish subsidiary and its foreign distribution subsidiaries, the Company and SKAT continue to discuss various matters. No assessment has been made by SKAT as of December 31, 2015. The Company believes it has meritorious defenses for all such items reported in the Danish income tax returns.

The Company or one of its subsidiaries files income tax returns in the U.S. federal jurisdiction, and various states and foreign jurisdictions. During 2014, the Company was advised by the IRS that the years 2010 and 2011 would not be examined but that 2012 would be examined. That examination was finalized in the second quarter of 2015 with no material adjustments. In the quarter ended September 30, 2015, the Company was advised by the IRS that the federal income tax return for 2013 would be examined. In November 2015 the IRS began its examination, which is still in progress.

With few exceptions, the Company is no longer subject to tax examinations by the 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 2006. Generally Sealy’s state and local jurisdiction income tax returns are no longer subject to examination for years prior to 2010.

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, particularly as it relates to the Danish royalty matter, there were no significant changes to the liability for unrecognized tax benefits during the twelve months ended December 31, 2015.

The following sets forth the amount of income or (loss) before income taxes attributable to each of the Company’s geographies for the years ended December 31, 2015, 2014 and 2013:



	Year Ended December 31,
(in millions)	2015		2014		2013
Income before income taxes:
United States	$	120.2	$	46.9	$	(4.5	)
Rest of the world	79.9		128.0		132.5
	$	200.1	$	174.9	$	128.0

U.S. GAAP prescribes a recognition threshold and measurement attribute for the accounting and financial statement disclosure of tax positions taken or expected to be taken in a tax return. The evaluation of a tax position is a two-step process. The first step requires the Company to determine whether it is more likely than not that a tax position will be sustained upon examination based on the technical merits of the position. The second step requires the Company to recognize in the financial statements each tax position that meets the more likely than not criteria, measured at the largest amount of benefit that has a greater than 50.0% likelihood of being realized. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



(in millions)
Balance as of December 31, 2013	$	26.1
Additions based on tax positions related to 2014	24.3
Additions for tax positions of prior years	0.5
Expiration of statutes of limitations	(3.2		)
Settlements of uncertain tax positions with tax authorities	(0.1		)
Balance as of December 31, 2014	47.6
Additions based on tax positions related to 2015	0.9
Additions for tax positions of prior years	25.7
Expiration of statutes of limitations	(2.1		)
Settlements of uncertain tax positions with tax authorities	(2.3		)
Balance as of December 31, 2015	$	69.8

The amount of unrecognized tax benefits that would impact the effective tax rate if recognized at December 31, 2015, 2014 and 2013 would be $67.7, $44.6 million and $22.2 million, respectively. Interest and penalties related to unrecognized tax benefits are recorded in income tax expense. During the years ended December 31, 2015, 2014 and 2013, the Company recognized approximately $33.5 million, $1.9 million, and $1.8 million in interest and penalties, respectively, in income tax expense. The Company had approximately $43.8 million, $10.3 million, and $11.0 million of accrued interest and penalties at December 31, 2015, 2014, and 2013, respectively.

The Company has the following gross income tax attributes available at December 31, 2015 and 2014 respectively (in millions):



	2015	2014
State net operating losses (“SNOLs”)	128.8	145.3
U.S. federal foreign tax credits (“FTCs”)	7.8	7.8
U.S. state income tax credits ("SITCs")	5.5	1.6
Foreign net operating losses (“FNOLs”)	38.0	44.2
Charitable contribution carryover ("CCCs")	23.7	8.4

The SNOLs, FTCs, FNOLs, SITCs and CCCs generally expire in 2021, 2023, 2023, 2023 and 2019, respectively.

Management believes that, based on a number of factors, the available objective evidence creates sufficient uncertainty regarding the realizability of certain of the SNOLs, FTCs, SITCs, FNOLs, CCCs and certain other deferred tax assets related to certain foreign operations (together, the “Tax Attributes”). In assessing the realizability of deferred tax assets (including the Tax Attributes), management considers whether it is more likely than not that some portion of all of such deferred tax assets will not be realized. Accordingly, the Company has established a valuation allowance for Tax Attributes. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which the temporary differences become deductible or creditable. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. The Company has recorded valuation allowances against approximately $87.0 million of the SNOL, $7.8 million of the FTC, and $3.6 million of SITCs. With respect to all other tax attributes above, based upon the level of historical taxable income and projections for future taxable income, management believes it is more likely than not the Company will realize the benefits of the underlying deferred tax assets. However, there can be no assurance that such assets will be realized if circumstances change.

The income tax provision includes federal, state, and foreign income taxes currently payable and those deferred or prepaid because of temporary differences between financial statement and tax bases of assets and liabilities. The Company records income taxes under the liability method. Under this method, deferred income taxes are recognized for the estimated future tax effects of differences between the tax bases of assets and liabilities and their financial reporting amounts based on enacted tax laws.

The income tax provision consisted of the following:



	Year Ended December 31,
(in millions)	2015			2014			2013
Current provision
Federal	$	107.1		$	50.7		$	48.6
State	7.2			4.5			7.3
Foreign	32.4			36.9			42.3
Total current	$	146.7		$	92.1		$	98.2
Deferred provision
Federal	$	(12.3	)	$	(25.2	)	$	(47.0	)
State	(3.7		)	(1.2		)	0.4
Foreign	(5.3		)	(0.8		)	(2.5		)
Total deferred	(21.3		)	(27.2		)	(49.1		)
Total income tax provision	$	125.4		$	64.9		$	49.1

The net deferred tax assets and liabilities recognized in the accompanying Consolidated Balance Sheets consisted of the following:



	December 31,
(in millions)	2015			2014
Deferred tax assets:
Stock-based compensation	$	16.0		$	12.4
Accrued expenses and other	57.6			57.9
Net operating losses, foreign tax credits and charitable contribution carryforward	33.1			30.6
Inventories	5.1			4.5
Transaction costs	22.0			14.5
Property, plant and equipment	2.9			4.0
Total deferred tax assets	136.7			123.9
Valuation allowances	(24.2		)	(21.7		)
Total net deferred tax assets	$	112.5		$	102.2
Deferred tax liabilities:
Intangible assets	$	(247.8	)	$	(258.1	)
Property, plant and equipment	(42.0		)	(45.7		)
Accrued expenses and other	(5.9		)	(4.5		)
Total deferred tax liabilities	(295.7		)	(308.3		)
Net deferred tax liabilities	$	(183.2	)	$	(206.1	)

Major Customers	12 Months Ended
Major Customers	Dec. 31, 2015
Risks and Uncertainties [Abstract]
Major Customers	Major Customers The top five customers accounted for approximately 39.4%, 34.9% and 27.5% of the Company’s net sales for the years ended December 31, 2015, 2014 and 2013, respectively. Net sales from one customer (Mattress Firm Holding Corp.) represented more than 10.0% of net sales for the year ended December 31, 2015, 2014 and 2013, which is included in the North America segment. The top five customers also accounted for approximately 34.5% and 32.0% of accounts receivable as of December 31, 2015 and 2014, respectively. On February 5, 2016, Mattress Firm Holding Corp. acquired all of the outstanding equity interests in HMK Mattress Holdings, LLC (Sleepy’s). Sleepy’s was also one of the Company's top five customers in 2015 and as a result of this acquisition, based on 2015 net sales, the combined companies would have represented approximately 25% of the Company's overall net sales for 2015.

Redeemable Non-controlling Interest	12 Months Ended
Redeemable Non-controlling Interest	Dec. 31, 2015
Noncontrolling Interest [Abstract]
Redeemable Non-controlling Interest	Redeemable Non-controlling Interest The Company is party to a put and call arrangement with respect to the common securities that represent the 55.0% non-controlling interest in 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 call arrangement may be exercised by the Company on June 12, 2017. The put arrangement may be exercised by Comfort Revolution on June 12, 2018. The redemption value for both the put and the call arrangement is equal to 7.5 times EBITDA, as defined in the related LLC agreement, of Comfort Revolution for the preceding 12 months, adjusted for net debt outstanding and multiplied by the 55.0% ownership interest not held by the Company. Due to the existing put and call arrangements, the non-controlling interest is considered to be redeemable and is recorded on the Consolidated Balance Sheet as a redeemable non-controlling interest outside of permanent equity. The redeemable non-controlling interest is recognized at the higher of 1) the accumulated earnings associated with the non-controlling interest or 2) the contractually-defined redemption value as of the balance sheet date. As of December 31, 2015 and 2014, the accumulated earnings exceeded the redemption value and accordingly, a redemption value adjustment was not necessary.

Earnings Per Common Share

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Common Share

The following table sets forth the components of the numerator and denominator for the computation of basic and diluted earnings per share for net income attributable to Tempur Sealy International.



	Year Ended December 31,
(in millions, except per common share amounts)	2015		2014		2013
Numerator:
Net income attributable to Tempur Sealy International, Inc.	$	73.5	$	108.9	$	78.6

Denominator:
Denominator for basic earnings per common share—weighted average shares	61.7		60.8		60.3
Effect of dilutive securities:
Employee stock based compensation	0.9		1.3		1.3
Denominator for diluted earnings per common share—adjusted weighted average shares	62.6		62.1		61.6

Basic earnings per common share	$	1.19	$	1.79	$	1.30

Diluted earnings per common share	$	1.17	$	1.75	$	1.28

The Company excluded 0.2 million, 0.3 million and 0.3 million shares issuable upon exercise of outstanding stock options for the years ended December 31, 2015, 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 have voting rights or rights to receive any dividends thereon.

Business Segment Information

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Business Segment Information

Effective January 1, 2015, the Company realigned its organizational structure in light of the progress made in 2013 and 2014 integrating Sealy into its business. As a result of these changes, information that the Company's chief operating decision maker regularly reviews for purposes of allocating resources and assessing performance changed such that it is based on geography.

As a result of this realignment, the Company updated its segment reporting. Effective January 1, 2015, the Company operates in two segments: North America and International. Corporate operating expenses are not included in either of the segments and are presented separately as a reconciling item to consolidated results. These segments are strategic business units that are managed separately based on geography. The North America segment consists of Tempur and Sealy manufacturing and distribution subsidiaries, joint ventures and licensees located in the U.S. and Canada. The International segment consists of Tempur and Sealy manufacturing and distribution subsidiaries, joint ventures and licensees located in Europe, Asia-Pacific and Latin America. The Company evaluates segment performance based on net sales, gross profit and operating income.

The Company’s North America and International segment assets include investments in subsidiaries that are appropriately eliminated in the Company’s accompanying Consolidated Financial Statements. The remaining inter-segment eliminations are comprised of intercompany accounts receivable and payables.

The historical information presented for 2014 in the following tables has been restated for the change in the composition of the segments.

The following table summarizes total assets by segment:



	December 31,			December 31,
(in millions)	2015			2014
North America	$	2,533.1		$	2,465.2
International	477.1			474.3
Corporate	775.0			820.9
Inter-segment eliminations	(1,129.7		)	(1,177.7		)
Total assets	$	2,655.5		$	2,582.7

The following table summarizes property, plant and equipment, net by segment:



	December 31,		December 31,
(in millions)	2015		2014
North America	$	239.2	$	240.5
International	54.8		60.3
Corporate	67.7		54.8
Total property, plant and equipment, net	$	361.7	$	355.6

The following table summarizes segment information for the twelve months ended December 31, 2015:



(in millions)	North America		International			Corporate			Eliminations			Consolidated
Bedding sales	$	2,428.9	$	458.3		$	—		$	—		$	2,887.2
Other sales	148.3		115.7			—			—			264.0
Net sales	2,577.2		574.0			—			—			3,151.2

Inter-segment sales	$	5.9	$	0.7		$	—		$	(6.6	)	$	—
Gross profit	954.6		294.3			—			—			1,248.9
Inter-segment royalty expense (income)	7.1		(7.1		)	—			—			—
Operating income (loss)	335.6		98.9			(125.4		)	—			309.1
Income (loss) before income taxes	324.4		73.2			(197.5		)	—			200.1

Depreciation and amortization⁽¹⁾	$	43.3	$	16.0		$	34.6		$	—		$	93.9
Capital expenditures	28.9		14.8			22.2			—			65.9


(1)	Depreciation and amortization includes stock-based compensation amortization expense.

The following table summarizes segment information for the twelve months ended December 31, 2014:



(in millions)	North America		International			Corporate			Eliminations			Consolidated
Bedding sales	$	2,261.9	$	464.6		$	—		$	—		$	2,726.5
Other sales	143.0		120.3			—			—			263.3
Net sales	2,404.9		584.9			—			—			2,989.8

Inter-segment sales	$	5.1	$	0.3		$	—		$	(5.4	)	$	—
Gross profit	834.8		315.6			—			—			1,150.4
Inter-segment royalty expense (income)	6.1		(6.1		)	—			—			—
Operating income (loss)	255.0		118.8			(97.5		)	—			276.3
Income (loss) before income taxes	228.0		112.2			(165.3		)	—			174.9

Depreciation and amortization⁽¹⁾	$	47.9	$	16.3		$	25.5		$	—		$	89.7
Capital expenditures	17.8		15.6			14.1			—			47.5


(1)	Depreciation and amortization includes stock-based compensation amortization expense.

The following table summarizes segment information for the twelve months ended December 31, 2013:



(in millions)	North America		International			Corporate			Eliminations			Consolidated
Bedding sales	$	1,779.3	$	419.1		$	—		$	—		$	2,198.4
Other sales	147.7		118.2			—			—			265.9
Net sales	1,927.0		537.3			—			—			2,464.3

Inter-segment sales	$	0.2	$	0.6		$	—		$	(0.8	)	$	—
Gross profit	710.2		304.7			—			—			1,014.9
Inter-segment royalty expense (income)	5.8		(5.8		)	—			—			—
Operating income (loss)	229.0		124.7			(109.9		)	—			243.8
Income (loss) before income taxes	548.3		(204.5		)	(215.8		)	—			128.0

Depreciation and amortization⁽¹⁾	$	49.9	$	14.1		$	27.5		$	—		$	91.5
Capital expenditures	19.5		11.2			9.3			—			40.0


(1)	Depreciation and amortization includes stock-based compensation amortization expense.

The following table summarizes property, plant and equipment, net by geographic region:



	December 31,		December 31,
(in millions)	2015		2014
United States	$	300.1	$	287.3
Canada	6.8		8.0
Other International	54.8		60.3
Total property, plant and equipment, net	$	361.7	$	355.6
Total International	61.6		68.3

The following table summarizes net sales by geographic region:



	Year Ended December 31,
(in millions)	2015		2014		2013
United States	$	2,374.7	$	2,188.8	$	1,736.8
Canada	202.5		216.1		190.2
Other International	574.0		584.9		537.3
Total net sales	$	3,151.2	$	2,989.8	$	2,464.3
Total International	$	776.5	$	801.0	$	727.5

- 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
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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+ Details

Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data (unaudited)

Quarterly results of operations for the years ended December 31, 2015 and 2014 are summarized below:



(in millions, except per share amounts)	First Quarter		Second Quarter			Third Quarter		Fourth Quarter
2015
Net sales	$	739.5	$	764.4		$	880.0	$	767.3
Gross profit	278.7		297.5			359.6		313.1
Operating income	54.4		52.0			110.9		91.8
Net income (loss)	23.4		21.2			40.2		(11.3		)
Basic earnings (loss) per common share	$	0.38	$	0.35		$	0.65	$	(0.18	)
Diluted earnings (loss) per common share	$	0.38	$	0.34		$	0.64	$	(0.18	)

2014
Net sales	$	701.9	$	715.0		$	827.4	$	745.5
Gross profit	269.5		268.3			318.5		294.1
Operating income	62.4		50.3			87.1		76.5
Net income	27.4		(2.2		)	37.1		46.6
Basic earnings (loss) per common share	$	0.45	$	(0.04	)	$	0.61	$	0.77
Diluted earnings (loss) per common share	$	0.44	$	(0.04	)	$	0.60	$	0.75

As described in Note 14, "Income Taxes", during the fourth quarter of 2015, the Company recorded a change in estimate of its uncertain tax positions related to the Danish tax matter of approximately $60.7 million. In addition, in the third quarter of 2015 and the fourth quarter of 2014, the Company recognized $9.5 million and $15.6 million, respectively, of other income from certain other non-recurring items, including the partial settlement of a legal dispute. The sum of the quarterly earnings per common share amounts may not equal the annual amount reported because per share amounts are computed independently for each quarter and for the full year based on respective weighted-average common shares outstanding and other dilutive potential common shares. The Company’s quarterly operating results fluctuate as a result of seasonal variations in the Company’s business.

Guarantor/Non-Guarantor Financial Information

12 Months Ended

Dec. 31, 2015

Guarantor/Non-Guarantor Financial Information

Guarantor/Non-Guarantor Financial Information

The $375.0 million and $450.0 million aggregate principal amount of 2020 Senior Notes and 2023 Senior Notes (collectively the "Senior Notes"), respectively, 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 applicable 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 applicable 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 applicable 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 Consolidated Balance Sheets as of December 31, 2015 and December 31, 2014, and the related Consolidated Statements of Income and Comprehensive Income and Cash Flows for the years ended December 31, 2015, 2014 and 2013 for Tempur Sealy International, Combined Guarantor Subsidiaries and Combined Non-Guarantor Subsidiaries. Sealy financial information is included from March 18, 2013 through December 31, 2015.

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Consolidated Statements of Income and Comprehensive Income

Year Ended December 31, 2015

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	2,422.9		$	778.9		$	(50.6	)	$	3,151.2
Cost of sales	—			1,532.6			420.3			(50.6		)	1,902.3
Gross profit	—			890.3			358.6			—			1,248.9
Selling and marketing expenses	4.1			460.1			183.8			—			648.0
General, administrative and other expenses	20.8			232.6			68.6			—			322.0
Equity income in earnings of unconsolidated affiliates	—			—			(11.9		)	—			(11.9		)
Royalty income, net of royalty expense	—			(18.3		)	—			—			(18.3		)
Operating (loss) income	(24.9		)	215.9			118.1			—			309.1

Other expense, net:
Third party interest expense, net	27.2			66.2			2.7			—			96.1
Intercompany interest expense (income), net	32.9			(35.5		)	2.6			—			—
Interest expense, net	60.1			30.7			5.3			—			96.1
Other (income) expense, net	—			(8.1		)	21.0			—			12.9
Total other expense	60.1			22.6			26.3			—			109.0

Income from equity investees	132.9			64.7			—			(197.6		)	—

Income before income taxes	47.9			258.0			91.8			(197.6		)	200.1
Income tax benefit (provision)	26.8			(125.1		)	(27.1		)	—			(125.4		)
Net income	74.7			132.9			64.7			(197.6		)	74.7
Less: net income attributable to non-controlling interest	1.2			1.2			—			(1.2		)	1.2
Net income attributable to Tempur Sealy International, Inc.	$	73.5		$	131.7		$	64.7		$	(196.4	)	$	73.5

Comprehensive income	$	19.1		$	130.9		$	(3.3	)	$	(127.6	)	$	19.1

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Consolidated Statements of Income and Comprehensive Income

Year Ended December 31, 2014

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	2,229.5		$	802.9		$	(42.6	)	$	2,989.8
Cost of sales	—			1,465.3			416.7			(42.6		)	1,839.4
Gross profit	—			764.2			386.2			—			1,150.4
Selling and marketing expenses	2.4			431.2			186.3			—			619.9
General, administrative and other expenses	13.4			200.5			66.7			—			280.6
Equity income in earnings of unconsolidated affiliates	—			—			(8.3		)	—			(8.3		)
Royalty income, net of royalty expense	—			(18.1		)	—			—			(18.1		)
Operating (loss) income	(15.8		)	150.6			141.5			—			276.3

Other expense, net:
Third party interest expense, net	27.0			62.4			2.5			—			91.9
Intercompany interest expense (income), net	32.7			(34.6		)	1.9			—			—
Interest expense, net	59.7			27.8			4.4			—			91.9
Loss on disposal, net	—			23.2			—			—			23.2
Other (income) expense, net	—			(17.2		)	3.5			—			(13.7		)
Total other expense	59.7			33.8			7.9			—			101.4

Income from equity investees	159.2			98.7			—			(257.9		)	—

Income before income taxes	83.7			215.5			133.6			(257.9		)	174.9
Income tax benefit (provision)	26.3			(56.3		)	(34.9		)	—			(64.9		)
Net income	110.0			159.2			98.7			(257.9		)	110.0
Less: net income attributable to non-controlling interest	1.1			1.1			—			(1.1		)	1.1
Net income attributable to Tempur Sealy International, Inc.	$	108.9		$	158.1		$	98.7		$	(256.8	)	$	108.9

Comprehensive income	$	66.9		$	163.3		$	60.3		$	(223.6	)	$	66.9

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Consolidated Statements of Income and Comprehensive Income

Year Ended December 31, 2013

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	1,758.2		$	728.1		$	(22.0	)	$	2,464.3
Cost of sales	—			1,110.5			360.9			(22.0		)	1,449.4
Gross profit	—			647.7			367.2			—			1,014.9
Selling and marketing expenses	2.4			358.1			162.4			—			522.9
General, administrative and other expenses	17.1			181.6			67.6			—			266.3
Equity income in earnings of unconsolidated affiliates	—			—			(4.4		)	—			(4.4		)
Royalty income, net of royalty expense	—			(13.7		)	—			—			(13.7		)
Operating (loss) income	(19.5		)	121.7			141.6			—			243.8

Other expense, net:
Third party interest expense, net	27.5			81.5			1.8			—			110.8
Intercompany interest expense (income), net	32.7			(34.1		)	1.4			—			—
Interest expense (income), net	60.2			47.4			3.2			—			110.8
Other expense, net	—			(0.9		)	5.9			—			5.0
Total other expense (income)	60.2			46.5			9.1			—			115.8

Income from equity investees	133.4			93.6			—			(227.0		)	—

Income before income taxes	53.7			168.8			132.5			(227.0		)	128.0
Income tax benefit (provision)	25.2			(35.4		)	(38.9		)	—			(49.1		)
Net income	78.9			133.4			93.6			(227.0		)	78.9
Less: net income attributable to non-controlling interest	0.3			0.3			—			(0.3		)	0.3
Net income attributable to Tempur Sealy International, Inc.	$	78.6		$	133.1		$	93.6		$	(226.7	)	$	78.6

Comprehensive income	$	72.5		$	133.8		$	86.2		$	(220.0	)	$	72.5

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Consolidated Balance Sheets

December 31, 2015

(in millions)



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

Current Assets:
Cash and cash equivalents	$	—	$	121.8	$	32.1		$	—		$	153.9
Accounts receivable, net	—		231.9		147.5			—			379.4
Inventories	—		145.3		53.9			—			199.2
Income tax receivable	193.1		—		—			(193.1		)	—
Prepaid expenses and other current assets	—		43.5		33.1			—			76.6
Total Current Assets	193.1		542.5		266.6			(193.1		)	809.1
Property, plant and equipment, net	—		300.1		61.6			—			361.7
Goodwill	—		501.4		208.0			—			709.4
Other intangible assets, net	—		612.9		82.5			—			695.4
Deferred tax asset	16.0		—		12.2			(16.0		)	12.2
Other non-current assets	—		23.3		44.4			—			67.7
Net investment in subsidiaries	1,960.5		—		—			(1,960.5		)	—
Due from affiliates	548.1		1,655.3		4.8			(2,208.2		)	—
Total Assets	$	2,717.7	$	3,635.5	$	680.1		$	(4,377.8	)	$	2,655.5

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:
Accounts payable	$	—	$	212.2	$	54.1		$	—		$	266.3
Accrued expenses and other current liabilities	1.4		183.8		68.8			—			254.0
Income taxes payable	—		196.0		8.3			(193.1		)	11.2
Current portion of long-term debt	—		168.7		12.8			—			181.5
Total Current Liabilities	1.4		760.7		144.0			(193.1		)	713.0
Long-term debt, net	811.9		461.4		—			—			1,273.3
Deferred income taxes	—		189.8		21.6			(16.0		)	195.4
Other non-current liabilities	—		166.6		4.6			—			171.2
Due to affiliates	1,601.8		96.5		604.9			(2,303.2		)	—
Total Liabilities	2,415.1		1,675.0		775.1			(2,512.3		)	2,352.9

Redeemable non-controlling interest	12.4		12.4		—			(12.4		)	12.4

Total Stockholders’ Equity	290.2		1,948.1		(95.0		)	(1,853.1		)	290.2
Total Liabilities and Stockholders’ Equity	$	2,717.7	$	3,635.5	$	680.1		$	(4,377.8	)	$	2,655.5

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Consolidated Balance Sheets

December 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	$	0.4	$	25.5	$	36.6		$	—		$	62.5
Accounts receivable, net	—		241.2		144.6			—			385.8
Inventories	—		158.3		58.9			—			217.2
Income tax receivable	144.1		—		—			(144.1		)	—
Prepaid expenses and other current assets	—		28.2		28.3			—			56.5
Total Current Assets	144.5		453.2		268.4			(144.1		)	722.0
Property, plant and equipment, net	—		287.3		68.3			—			355.6
Goodwill	—		557.2		179.3			—			736.5
Other intangible assets, net	—		611.9		115.2			—			727.1
Deferred tax asset	12.4		—		10.7			(12.4		)	10.7
Other non-current assets	—		15.1		15.7			—			30.8
Net investment in subsidiaries	1,808.4		—		—			(1,808.4		)	—
Due from affiliates	51.4		2,226.0		5.3			(2,282.7		)	—
Total Assets	$	2,016.7	$	4,150.7	$	662.9		$	(4,247.6	)	$	2,582.7

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:
Accounts payable	$	—	$	170.4	$	56.0		$	—		$	226.4
Accrued expenses and other current liabilities	1.4		166.1		65.8			—			233.3
Income taxes payable	—		163.0		(6.9		)	(144.1		)	12.0
Current portion of long-term debt	—		61.8		4.6			—			66.4
Total Current Liabilities	1.4		561.3		119.5			(144.1		)	538.1
Long-term debt, net	368.7		1,129.6		—			—			1,498.3
Deferred income taxes	—		202.3		26.8			(12.4		)	216.7
Other non-current liabilities	—		109.3		5.0			—			114.3
Due to affiliates	1,431.3		340.2		849.4			(2,620.9		)	—
Total Liabilities	1,801.4		2,342.7		1,000.7			(2,777.4		)	2,367.4

Redeemable non-controlling interest	12.6		12.6		—			(12.6		)	12.6

Total Stockholders’ Equity	202.7		1,795.4		(337.8		)	(1,457.6		)	202.7
Total Liabilities and Stockholders’ Equity	$	2,016.7	$	4,150.7	$	662.9		$	(4,247.6	)	$	2,582.7

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Consolidated Statements of Cash Flows

Year Ended December 31, 2015

(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	$	(87.0	)	$	274.7		$	46.5		$	—	$	234.2

CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from disposition of business	—			7.2			—			—		7.2
Purchases of property, plant and equipment	—			(49.9		)	(16.0		)			(65.9		)
Other	—			(0.7		)	(0.3		)	—		(1.0		)
Net cash used in investing activities	—			(43.4		)	(16.3		)	—		(59.7		)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	—			402.9			10.6			—		413.5
Repayments 2012 Credit Agreement	—			(988.3		)	—			—		(988.3		)
Proceeds from issuance of 2023 Senior Notes	450.0			—			—			—		450.0
Net activity in investment in and advances (to) from subsidiaries and affiliates	(401.3		)	453.4			(52.1		)	—		—
Proceeds from exercise of stock options	20.4			—			—			—		20.4
Excess tax benefit from stock based compensation	21.8			—			—			—		21.8
Proceeds from issuance of treasury stock by CEO	5.0			—			—			—		5.0
Treasury stock repurchased	(1.3		)	—			—			—		(1.3		)
Payment of deferred financing costs	(8.0		)	—			—			—		(8.0		)
Other	—			(3.0		)	(0.8		)	—		(3.8		)
Net cash provided by (used in) financing activities	86.6			(135.0		)	(42.3		)	—		(90.7		)

NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			7.6			—		7.6
Increase (decrease) in cash and cash equivalents	(0.4		)	96.3			(4.5		)	—		91.4
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	0.4			25.5			36.6			—		62.5
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	—		$	121.8		$	32.1		$	—	$	153.9

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Consolidated Statements of Cash Flows

Year Ended December 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	$	(62.7	)	$	191.5		$	96.4		$	—	$	225.2

CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of business, net of cash acquired	—			—			(8.5		)	—		(8.5		)
Proceeds from disposition of business	—			43.5			—			—		43.5
Purchase of property, plant and equipment	—			(31.3		)	(16.2		)	—		(47.5		)
Other	—			3.0			(0.9		)	—		2.1
Net cash provided by (used in) investing activities	—			15.2			(25.6		)	—		(10.4		)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	$	—		$	271.5		$	—		$	—	$	271.5
Repayments of the 2012 Credit Agreement	—			(510.9		)	—			—		(510.9		)
Net activity in investment in and advances from (to) subsidiaries and affiliates	59.3			32.1			(91.4		)	—		—
Proceeds from exercise of stock options	4.3			—			—			—		4.3
Excess tax benefit from stock based compensation	1.7			—			—			—		1.7
Treasury stock repurchased	(2.2		)	—			—			—		(2.2		)
Payment of deferred financing costs	—			(3.1		)	—			—		(3.1		)
Other	—			(1.7		)	2.3			—		0.6
Net cash provided by (used in) financing activities	63.1			(212.1		)	(89.1		)	—		(238.1		)

NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			4.8			—		4.8
Increase (decrease) in cash and cash equivalents	0.4			(5.4		)	(13.5		)	—		(18.5		)
CASH AND CASH EQUIVALENTS, BEGININNG OF PERIOD	—			30.9			50.1			—		81.0
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	0.4		$	25.5		$	36.6		$	—	$	62.5

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Consolidated Statements of Cash Flows

Year Ended December 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	$	(66.1	)	$	80.9		$	83.7		$	—	$	98.5

CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of business, net of cash acquired	—			(1,035.3		)	(137.6		)	—		(1,172.9		)
Purchase of property, plant and equipment	—			(28.3		)	(11.7		)	—		(40.0		)
Other	—			(54.7		)	54.6			—		(0.1		)
Net cash used in investing activities	—			(1,118.3		)	(94.7		)	—		(1,213.0		)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	$	—		$	2,992.6		$	—		$	—	$	2,992.6
Repayments of the 2012 Credit Agreement	—			(1,658.3		)	—			—		(1,658.3		)
Proceeds from issuance of 2020 Senior Notes	375.0			—			—			—		375.0
Proceeds from the 2011 Credit Facility	—			46.5			—			—		46.5
Repayments of the 2011 Credit Facility	—			(696.5		)	—			—		(696.5		)
Net activity in investment in and advances (to) from subsidiaries and affiliates	(772.8		)	874.9			(102.1		)	—		—
Proceeds from exercise of stock options	8.7			—			—			—		8.7
Excess tax benefit from stock based compensation	5.4			—			—			—		5.4
Treasury stock repurchased	458.2			(465.2		)	—			—		(7.0		)
Payment of deferred financing costs	(8.4		)	(43.6		)	—			—		(52.0		)
Other	—			(1.3		)	0.3			—		(1.0		)
Net cash provided by (used in) financing activities	66.1			1,049.1			(101.8		)	—		1,013.4

NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			2.8			—		2.8
Increase in cash and cash equivalents	—			11.7			(110.0		)	—		(98.3		)
CASH AND CASH EQUIVALENTS, BEGININNG OF PERIOD	—			19.2			160.1			—		179.3
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	—		$	30.9		$	50.1		$	—	$	81.0

VALUATION AND QUALIFYING ACCOUNTS SCHEDULE II

12 Months Ended

Dec. 31, 2015

Valuation and Qualifying Accounts [Abstract]

VALUATION AND QUALIFYING ACCOUNTS

TEMPUR SEALY INTERNATIONAL, INC. AND SUBSIDIARIES

VALUATION AND QUALIFYING ACCOUNTS

FOR THE YEARS ENDED DECEMBER 31, 2015, 2014 AND 2013

SCHEDULE II

(in millions)



			Additions
Description	Balance at Beginning of Period		Charges to Costs and Expenses	Charged to Other Accounts	Deductions		Balance at End of Period
Allowance for doubtful accounts:
Year Ended December 31, 2013	$	8.2	1.3	—	9.8		$	19.3
Year Ended December 31, 2014	$	19.3	4.9	—	(4.7	)	$	19.5
Year Ended December 31, 2015	$	19.5	6.9	—	(3.1	)	$	23.3



			Additions
Description	Balance at Beginning of Period		Charges to Costs and Expenses	Charged to Other Accounts	Deductions		Balance at End of Period
Valuation allowance for deferred tax assets:
Year Ended December 31, 2013	$	0.1	20.4	18.9	—		$	39.4
Year Ended December 31, 2014	$	39.4	2.2	—	(19.9	)	$	21.7
Year Ended December 31, 2015	$	21.7	4.6	—	(2.1	)	$	24.2

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2015

Accounting Policies [Abstract]

Basis of Presentation and Description of Business

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.

Basis of Consolidation

Basis of Consolidation. The accompanying financial statements include the accounts of Tempur Sealy International, its 100.0% owned subsidiary companies and Comfort Revolution. Intercompany balances and transactions have been eliminated. The equity method of accounting is used for joint ventures and investments in associated companies over which the Company has significant influence, but does not have effective control and consolidation is not otherwise required under the Financial Accounting Standards Board’s (“FASB”) authoritative guidance surrounding the consolidation of VIEs. The Company’s equity in the net income and losses of these investments is reported in equity income in earnings of unconsolidated affiliates in the accompanying Consolidated Statements of Income.

Use of Estimates

Use of Estimates. The preparation of financial statements in conformity with U.S. Generally Accepted Accounting Principles (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company’s results are affected by economic, political, legislative, regulatory and legal actions. Economic conditions, such as recessionary trends, inflation, interest and monetary exchange rates, government fiscal policies and changes in the prices of raw materials, can have a significant effect on operations.

Fair Value Measurements

Fair Value Measurements. The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as inherent risk, transfer restrictions and credit risk.


•	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.

Foreign Currency

Foreign Currency. Assets and liabilities of non-U.S. subsidiaries, whose functional currency is the local currency, are translated into U.S. dollars at period-end exchange rates. Income and expense items are translated at the average rates of exchange prevailing during the period. The adjustments resulting from translating the financial statements of foreign subsidiaries are included in accumulated other comprehensive loss (“AOCL”), a component of stockholders’ equity, and included in net earnings only upon sale or liquidation of the underlying foreign subsidiary or affiliated company. Foreign currency transaction gains and losses are recognized in net earnings based on differences between foreign exchanges rates on the transaction date and on the settlement date.

Derivative Financial Instruments

Derivative Financial Instruments. The Company records derivative financial instruments on the consolidated balance sheets as either an asset or liability measured at its fair value. Changes in a derivative's fair value (i.e., unrealized gains or losses) are recorded each period in earnings or other comprehensive loss ("OCL"), depending on whether the derivative is designated and is effective as a hedged transaction, and on the type of hedging relationship.

Cash and Cash Equivalents

Cash and Cash Equivalents. Cash and cash equivalents consist of all highly liquid investments with initial maturities of three months or less.

Inventories

Inventories. Inventories are stated at the lower of cost or market, determined by the first-in, first-out method

Property, Plant and Equipment

Property, Plant and Equipment. Property, plant and equipment are carried at cost at acquisition date and are depreciated using the straight-line method over their estimated useful lives as follows:



	Estimated Useful Lives (in years)
Buildings	25-30
Computer equipment and software	3-5
Leasehold improvements	4-7
Machinery and equipment	3-7
Office furniture and fixtures	5-7

Long-Lived Assets

Long-Lived Assets. Long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of long-lived assets is assessed by a comparison of the carrying amount of the asset to the estimated future undiscounted net cash flows expected to be generated by the asset or group of assets. If estimated future undiscounted net cash flows are less than the carrying amount of the asset or group of assets, the asset is considered impaired and an expense is recorded in an amount required to reduce the carrying amount of the asset to its then fair value. Fair value generally is determined from estimated discounted future net cash flows (for assets held for use) or net realizable value (for assets held for sale).

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets. Intangible assets with finite useful lives are amortized over their respective estimated useful lives to their estimated residual values and reviewed for impairment whenever events or changes in circumstances indicate impairment may have occurred. The Company performs an annual impairment test on goodwill and indefinite lived intangible assets on October 1 of each year and whenever events or circumstances make it more likely than not that impairment may have occurred. The Company reviewed goodwill for impairment based on its identified reporting units. The Company identified three reporting units for purposes of evaluating goodwill impairment: Tempur Sealy U.S. and Tempur Sealy Canada reporting units within the North America segment and one reporting unit comprising the International segment. In conducting the impairment test for these reporting units the fair value of each of the Company’s reporting units is compared to its respective carrying amount including goodwill. If the fair value exceeds the carrying amount, then no impairment exists. If the carrying amount exceeds the fair value, further analysis is performed to assess impairment. The Company’s determination of fair value of the reporting units is based on a discounted cash flow approach, with an appropriate risk adjusted discount rate, and a market approach. Any identified impairment would result in an adjustment to the Company’s results of operations.

The Company performed its annual impairment test of goodwill and indefinite-lived intangible assets in 2015, 2014 and 2013, none of which resulted in the recognition of impairment charges.

Accrued Sales Returns

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. The Company considers the impact of recoverable salvage value on sales returns by segment in determining its estimate of future sales returns. Accrued sales returns are included in accrued expenses and other current liabilities in the accompanying Consolidated Balance Sheets.

Warranties

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 claims 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. 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.

Income Taxes

Income Taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are also recognized for the estimated future effects of tax loss carry forwards. The effect of changes in tax rates on deferred taxes is recognized in the period in which the enactment dates change. Valuation allowances are established when necessary on a jurisdictional basis to reduce deferred tax assets to the amounts expected to be realized. The Company accounts for uncertain foreign and domestic tax positions utilizing a proscribed recognition threshold and measurement attributes for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return.

Revenue Recognition

Revenue Recognition. Sales of products are recognized when persuasive evidence of an arrangement exists, 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 at the time revenue is recognized based on historical experience. 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.

Allowance for Doubtful Accounts

Cost of Sales

Cost of Sales. Costs associated with net sales are recorded in cost of sales. Cost of sales includes the costs of receiving, producing, inspecting, warehousing, insuring, and shipping goods during the period, as well as depreciation and amortization of long-lived assets used in these processes. Cost of sales also includes shipping and handling costs associated with the delivery of goods to customers and costs associated with internal transfers between plant locations.

Cooperative Advertising, Rebate and Other Promotional Programs

Cooperative Advertising, Rebate and Other Promotional Programs. The Company enters into agreements with customers to provide funds for advertising and promotions. The Company also enters into volume and other rebate programs with customers. The Company records the liability associated with cooperative advertising, rebates and other promotion programs when sales are made to these customers. The Company periodically assesses these liabilities based on actual sales and claims to determine whether all of the cooperative advertising earned will be used by the customer or whether the customer will meet the requirements to receive rebate funds. The Company generally negotiates these agreements on a customer-by-customer basis. Some of these agreements extend over several years. Significant estimates are required at any point in time with regard to the ultimate reimbursement to be claimed by the customers. Subsequent revisions to the estimates are recorded and charged to earnings in the period in which they are identified. Rebates and cooperative advertising are classified as a reduction of revenue and presented within net sales on the accompanying Consolidated Statements of Income. Certain cooperative advertising expenses are reported as components of selling and marketing expenses in the accompanying Consolidated Statements of Income because the Company receives an identifiable benefit and the fair value of the advertising benefit can be reasonably estimated.

Advertising Costs

Advertising Costs. The Company expenses advertising costs as incurred except for production costs and advance payments, which are deferred and expensed when advertisements run for the first time. Direct response advance payments are deferred and amortized over the life of the program. Advertising costs are included in selling and marketing expenses in the accompanying Consolidated Statements of Income. Advertising costs charged to expense were $360.5 million, $326.7 million and $274.2 million for the years ended December 31, 2015, 2014 and 2013, respectively. Advertising costs include expenditures for shared advertising costs that the Company reimburses to customers under its integrated and cooperative advertising programs. Cooperative advertising costs paid to customers are recorded as a component of selling and marketing expenses within the Consolidated Statements of Income to the extent of the estimated fair value of the customer's underlying advertisement when the customer provides proof of advertising. The Company periodically assesses the liabilities recorded for cooperative advertising based on actual sales and claims to determine whether all of the cooperative advertising earned will be used by the customer.

Research and Development Expenses

Research and Development Expenses. Research and development expenses for new products are expensed as they are incurred and are included in general, administrative and other expenses in the accompanying Consolidated Statements of Income.

Deferred Financing Costs

Deferred Financing Costs. The Company capitalizes costs associated with the issuance of debt and amortizes these costs as additional interest expense over the lives of the debt instruments using the effective interest method. These costs are recorded as deferred financing costs as a direct reduction from the carrying amount of the corresponding debt liability in the accompanying Consolidated Balance Sheets and the related amortization is included and interest expense, net in the accompanying Consolidated Statements of Income. Upon the prepayment of the related debt, the Company accelerates the recognition of an appropriate amount of the costs.

Royalty Income and Expense

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.

Stock-Based Compensation

Stock-Based Compensation. The Company accounts for stock-based payment transactions in which the Company receives employee services in exchange for equity instruments of the Company. Stock-based compensation cost for restricted stock units (“RSUs”), performance restricted stock units (“PRSUs”) and deferred stock units (“DSUs”) is measured based on the closing fair market value of the Company’s common stock on the date of grant. Stock-based compensation cost for stock options is estimated at the grant date based on each option’s fair-value as calculated by the Black-Scholes option-pricing model. The Company recognizes stock-based compensation cost as expense for awards other than its PRSUs ratably on a straight-line basis over the requisite service period. The Company recognizes stock-based compensation cost associated with its PRSUs over the requisite service period if it is probable that the performance conditions will be satisfied. The Company will recognize a benefit from stock-based compensation in additional paid in capital if an incremental tax benefit is realized pursuant to the Internal Revenue Code.

Treasury Stock

Treasury Stock. Subject to Delaware law, and the limitations in the Company's 2012 Credit Agreement and the Company's other debt agreements, the Board of Directors may authorize share repurchases of the Company’s common stock (“Stock Repurchase Authorizations”). Stock Repurchase Authorizations may be made through open market transactions, negotiated purchase or otherwise, at times and in such amounts as the Company, and a committee of the Board, deem appropriate. Stock repurchased under Stock Repurchase Authorizations are held in treasury for general corporate purposes, including issuances under various employee stock-based award plans. Treasury stock is accounted for under the cost method and reported as a reduction of stockholders’ equity. Stock Repurchase Authorizations may be suspended, limited or terminated at any time without notice.

Self-Insurance

Self-Insurance. The Company is self-insured up to $0.8 million per claim per year for certain losses related to medical claims with excess loss coverage. The Company also utilizes large deductible policies to insure claims related to general liability, product liability, automobile, and workers’ compensation. The Company’s recorded liability for workers’ compensation represents an estimate of the ultimate cost of claims incurred as of the balance sheet date. The estimated workers' compensation liability is undiscounted and is established based upon analysis of historical and actuarial estimates, and is reviewed by the Company and third party actuaries on a quarterly basis to ensure that the liability is appropriate.

Environmental Cost

Environmental Cost. Environmental expenditures that relate to current operations are expensed or capitalized, as appropriate, under the FASB’s 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.

Pension Obligations

Pension Obligations. The Company has a noncontributory, defined benefit pension plan covering current and former hourly employees at two of its active Sealy plants and nine 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 measurement of the PBO is based on the Company’s estimates and actuarial valuations. 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. 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.

Supply Agreements

Supply Agreements. The Company from time to time enters into long term supply agreements with its customers to sell its branded products to customers in exchange for minimum sales volume or a minimum percentage of the customer's sales or space on the retail floor. Such agreements generally cover a period of two to five years. Initial cash outlays by the Company for such agreements are capitalized and amortized generally as a reduction of sales over the life of the contract. The majority of these cash outlays are ratably recoverable upon contract termination. Such capitalized amounts are included in prepaid expenses and other current assets and non-current assets in the Company's Consolidated Balance Sheets.

Recently Issued Accounting Pronouncements

In May 2014, the FASB issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue From Contracts With Customers, that outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This ASU is based on the core principle that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. This ASU also requires disclosures sufficient to enable users to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including qualitative and quantitative disclosures about contracts with customers, significant judgments and changes in judgments, and assets recognized from the costs to obtain or fulfill a contract. Entities have the option of using either a full retrospective or a modified retrospective approach for the adoption of the new standard. This ASU is effective for fiscal years beginning after December 15, 2017, including interim periods within that reporting period. The Company is currently evaluating this ASU to determine the Company's adoption method and the impact it will have on the Company's Consolidated Financial Statements.

In April 2015, the FASB issued ASU No. 2015-03, Interest- Imputation of Interest- Simplifying the Presentation of Debt Issuance Costs, which requires debt issuance costs related to a recognized debt liability to be presented in the balance sheet as a direct reduction from the carrying amount of that debt liability. This ASU is effective for annual reporting periods beginning after December 15, 2015 and must be adopted retrospectively; however, early adoption is permitted. The Company has elected to early adopt this ASU as of December 31, 2015, and as a result debt issuance costs of $24.8 million are reducing the carrying amounts of the Company’s long-term debt. As required under the ASU, this adoption resulted in the reclassification of $37.6 million of debt issuance costs included in other non-current assets to long-term debt on the Consolidated Balance Sheet as of December 31, 2014.

In November 2015, the FASB issued ASU No. 2015-17, Balance Sheet Classification of Deferred Taxes, which requires companies to classify all deferred tax assets and liabilities as noncurrent on the balance sheet, rather than separating deferred taxes into current and noncurrent amounts. This ASU is effective for annual and interim reporting periods beginning after December 15, 2017 and can be adopted prospectively or retrospectively; however, early adoption is permitted. The Company has elected to early adopt this ASU as of December 31, 2015 on a retrospective basis. As required under this ASU, this adoption resulted in the reclassification of $2.2 million current deferred income tax assets to noncurrent deferred income tax assets and $0.2 million current deferred income tax liabilities to noncurrent deferred income tax liabilities in the Consolidated Balance Sheet as of December 31, 2014.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2015

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:



	December 31,
(in millions)	2015		2014
Finished goods	$	126.7	$	134.0
Work-in-process	14.0		11.4
Raw materials and supplies	58.5		71.8
	$	199.2	$	217.2

Schedule of Property, Plant and Equipment

Property, plant and equipment are carried at cost at acquisition date and are depreciated using the straight-line method over their estimated useful lives as follows:



	Estimated Useful Lives (in years)
Buildings	25-30
Computer equipment and software	3-5
Leasehold improvements	4-7
Machinery and equipment	3-7
Office furniture and fixtures	5-7

Property, plant and equipment, net consisted of the following:



	December 31,
(in millions)	2015			2014
Machinery and equipment	$	257.0		$	243.5
Land and buildings	243.7			247.1
Computer equipment and software	78.2			69.2
Furniture and fixtures	52.3			54.9
Construction in progress	57.4			39.4
Total property, plant, and equipment	$	688.6		$	654.1
Accumulated depreciation	(326.9		)	(298.5		)
Total property, plant, and equipment, net	$	361.7		$	355.6

Changes in Accrued Sales Returns

The Company had the following activity for accrued sales returns from December 31, 2013 to December 31, 2015:



(in millions)
Balance as of December 31, 2013	28.7
Amounts accrued	127.4
Returns charged to accrual	(123.8		)
Balance as of December 31, 2014	$	32.3
Amounts accrued	123.0
Returns charged to accrual	(126.8		)
Balance as of December 31, 2015	$	28.5

Warranty Activity

The Company had the following activity for warranties from December 31, 2013 to December 31, 2015:



(in millions)
Balance as of December 31, 2013	$	26.1
Amounts accrued	34.2
Warranties charged to accrual	(29.0		)
Balance as of December 31, 2014	31.3
Amounts accrued	28.8
Warranties charged to accrual	(30.5		)
Balance as of December 31, 2015	$	29.6

Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2015

Business Combinations [Abstract]

Pro Forma Information



	Year Ended
	December 31,
(in millions, except earnings per common share)	2013
Net sales	$	2,757.2
Net income	$	90.9
Earnings per common share – Diluted	$	1.49

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill by Reportable Business Segment

The following summarizes the reassignment of goodwill from the historical segments to the new segments:



(in millions)	Reassigned Goodwill by Segment
North America segment:
Tempur North America segment goodwill as of January 1, 2015	$	106.2
Sealy segment goodwill as of January 1, 2015 reassigned to the North America segment	468.3
Total North America segment goodwill as of January 1, 2015	$	574.5

International segment:
Tempur International segment goodwill as of January 1, 2015	$	108.4
Sealy segment goodwill as of January 1, 2015 reassigned to the International segment	53.6
Total International segment goodwill as of January 1, 2015	$	162.0

The following summarizes changes to the Company’s goodwill, by new reportable segment for the period January 1, 2015 to December 31, 2015:



(in millions)	North America			International			Consolidated
Balance as of January 1, 2015	$	574.5		$	162.0		$	736.5
Foreign currency translation adjustments and other	(11.7		)	(15.4		)	(27.1		)
Balance as of December 31, 2015	$	562.8		$	146.6		$	709.4

The following summarizes changes to the Company’s goodwill, by reportable segment for the period December 31, 2013 to December 31, 2014:



(in millions)	Tempur North America			Tempur International			Sealy			Total
Balance as of December 31, 2013	$	107.7		$	107.3		$	544.6		$	759.6
Disposal of business	—			—			(21.4		)	(21.4		)
Goodwill resulting from acquisitions	—			2.3			—			2.3
Foreign currency translation adjustments	(1.5		)	(1.2		)	(1.3		)	(4.0		)
Balance as of December 31, 2014	$	106.2		$	108.4		$	521.9		$	736.5

Schedule of Finite-Lived Intangible Assets

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



($ in millions)		December 31, 2015						December 31, 2014
	Useful Lives (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Carrying Amount		Accumulated Amortization		Net Carrying Amount
Unamortized indefinite life intangible assets:
Trade names		$	558.1	$	—	$	558.1	$	569.0	$	—	$	569.0
Amortized intangible assets:
Contractual distributor relationships	15	$	84.8	$	15.8	$	69.0	$	88.2	$	10.4	$	77.8
Technology and other	4-10	90.8		39.2		51.6		92.6		32.6		60.0
Patents, other trademarks, and other trade names	5-20	27.2		16.9		10.3		27.3		14.6		12.7
Customer databases, relationships and reacquired rights	2-5	24.5		18.1		6.4		24.1		16.5		7.6
Total		$	785.4	$	90.0	$	695.4	$	801.2	$	74.1	$	727.1

Schedule of Indefinite-Lived Intangible Assets

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



($ in millions)		December 31, 2015						December 31, 2014
	Useful Lives (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Carrying Amount		Accumulated Amortization		Net Carrying Amount
Unamortized indefinite life intangible assets:
Trade names		$	558.1	$	—	$	558.1	$	569.0	$	—	$	569.0
Amortized intangible assets:
Contractual distributor relationships	15	$	84.8	$	15.8	$	69.0	$	88.2	$	10.4	$	77.8
Technology and other	4-10	90.8		39.2		51.6		92.6		32.6		60.0
Patents, other trademarks, and other trade names	5-20	27.2		16.9		10.3		27.3		14.6		12.7
Customer databases, relationships and reacquired rights	2-5	24.5		18.1		6.4		24.1		16.5		7.6
Total		$	785.4	$	90.0	$	695.4	$	801.2	$	74.1	$	727.1

Expected Future Amortization Expense

Estimated annual amortization of intangible assets is expected to be as follows for the years ending December 31:



(in millions)	Amount
2016	$	17.9
2017	17.2
2018	15.4
2019	14.8
2020	13.8

Debt (Tables)

12 Months Ended

Dec. 31, 2015

Debt Disclosure [Abstract]

Schedule of Borrowings Outstanding

Debt for the Company consists of the following:



(in millions)	December 31, 2015				December 31, 2014
Debt:	Amount			Rate	Amount			Rate	Maturity Date
Revolving credit facility	$	—		N/A	$	16.0		(1)	March 18, 2018
Term A Facility	409.4			(2)	484.5			(2)	March 18, 2018
Term B Facility	100.1			(3)	594.4			(3)	March 18, 2020
2020 Senior Notes	375.0			6.875%	375.0			6.875%	December 15, 2020
2023 Senior Notes	450.0			5.625%	—			—%	October 15, 2023
8.0% Sealy Notes	111.1			8.0%	104.7			8.0%	July 15, 2016
Capital lease obligations and other	34.0				27.7				Various
Total debt	1,479.6				1,602.3
Less: deferred financing costs	(24.8		)		(37.6		)
Total debt, net	1,454.8				1,564.7
Less: current portion	(181.5		)		(66.4		)
Total long term debt, net	1,273.3				1,498.3



(1)	Interest at Base Rate plus applicable margin of 2.00% or LIBOR plus applicable margin of 3.00% as of December 31, 2014. As of December 31, 2015, there were no borrowings under the Revolver. As of December 31, 2014, the Revolver LIBOR plus applicable margin interest rate was 3.16%.
(2)	Interest at LIBOR plus applicable margin of 2.00% as of December 31, 2015 and 2.25% as of December 31, 2014. As of December 31, 2015 and 2014, the Term A Facility total LIBOR plus applicable margin interest rate was 2.42%.
(3)	Interest at LIBOR, subject to a 0.75% floor plus applicable margin of 2.75% as of December 31, 2015 and December 31, 2014. As of December 31, 2015 and 2014, the Term B Facility total LIBOR plus applicable margin was 3.50%.

Schedule of Maturities of Long-term Debt

As of December 31, 2015, the scheduled maturities of long-term debt outstanding, including capital lease obligations, for each of the next five years and thereafter are as follows:



(in millions)	Amount
2016	$	181.5
2017	58.0
2018	314.1
2019	7.3
2020	460.8
Thereafter	457.9
Total	$	1,479.6

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Schedule of Fair Value Assets Measured on a Recurring Basis

The following table provides a summary by level of the fair value of foreign exchange forward contracts, which are measured on a recurring basis:



	Fair Value Measurements at December 31, 2015 Using:
(in millions)	December 31, 2015		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	$	12.5			$	12.5	—
	$	12.5	$	—	$	12.5	$	—
Liabilities:
Foreign exchange forward contracts	$	1.2	$	—	$	1.2	$	—
	$	1.2	$	—	$	1.2	$	—



	Fair Value Measurements at December 31, 2014 Using:
(in millions)	December 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	$	1.8	$	—	$	1.8	$	—
	$	1.8	$	—	$	1.8	$	—
Liabilities:
Foreign exchange forward contracts	$	0.1	$	—	$	0.1	$	—
	$	0.1	$	—	$	0.1	$	—

Schedule of Fair Value Liabilities Measured on a Recurring Basis

The following table provides a summary by level of the fair value of foreign exchange forward contracts, which are measured on a recurring basis:



	Fair Value Measurements at December 31, 2015 Using:
(in millions)	December 31, 2015		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	$	12.5			$	12.5	—
	$	12.5	$	—	$	12.5	$	—
Liabilities:
Foreign exchange forward contracts	$	1.2	$	—	$	1.2	$	—
	$	1.2	$	—	$	1.2	$	—



	Fair Value Measurements at December 31, 2014 Using:
(in millions)	December 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	$	1.8	$	—	$	1.8	$	—
	$	1.8	$	—	$	1.8	$	—
Liabilities:
Foreign exchange forward contracts	$	0.1	$	—	$	0.1	$	—
	$	0.1	$	—	$	0.1	$	—

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair value of derivative instruments

As of December 31, 2015 and December 31, 2014, the fair value of the Company's derivative financial instruments included in the accompanying Consolidated Balance Sheets was recorded as follows:



	Asset Derivatives
	Balance Sheet Location	Fair Value
(in millions)		December 31, 2015		December 31, 2014
Derivatives designated as hedging instruments
Foreign exchange forward contracts - current	Prepaid expenses and other current assets	$	7.7	$	1.8
Foreign exchange forward contracts - non-current	Other non-current assets	1.3		—
Derivatives not designated as hedging instruments
Foreign exchange forward contracts - current	Prepaid expenses and other current assets	3.5		—
		$	12.5	$	1.8



	Liability Derivatives
	Balance Sheet Location	Fair Value
(in millions)		December 31, 2015		December 31, 2014
Derivatives not designated as hedging instruments
Foreign exchange forward contracts - current	Accrued expenses and other current liabilities	$	1.2	$	0.1
		$	1.2	$	0.1

Retirement Plans (Tables)

12 Months Ended

Dec. 31, 2015

Compensation and Retirement Disclosure [Abstract]

Schedule of Components of Net Periodic Cost for Employees



(in millions)	2015			2014			2013
Service cost	$	0.8		$	0.9		$	0.9
Interest cost	1.9			1.8			1.3
Expected return on assets	(2.2		)	(2.1		)	(1.5		)
Curtailment loss	—			0.1			—
Amortization of net gain	—			(0.1		)	—
Settlement loss	1.3			—			—
Net periodic pension cost	$	1.8		$	0.6		$	0.7

Schedule of Other Changes in Plan Assets and Benefit Obligations Recognized in Accumulated Other Comprehensive Income

The other changes in plan assets and benefit obligations recognized in other comprehensive (income) loss for the years ended December 31 were:



(in millions)	2015			2014			2013
Net loss	$	0.2		$	9.0		$	(6.2	)
Amortization of prior service cost	—			(0.2		)	1.0
Amortization or settlement recognition of net gain (loss)	(1.3		)	0.1			—
New prior service cost	0.1			0.1			—
Total recognized in other comprehensive (income) loss	$	(1.0	)	$	9.0		$	(5.2	)

Schedule of Weighted-Average Assumptions Used in Calculating Net Periodic Benefit Costs



	2015		2014		2013
Discount rate ^(a)	4.12	%	4.01	%	4.23	%
Expected long term return on plan assets	7.05	%	7.00	%	6.92	%


(a)	The discount rates used in 2015 to determine the expenses for the United States retirement plan and Canadian retirement plan were 3.94% and 4.20%, respectively. The discount rates used in 2014 to determine the expenses for the United States retirement plan and Canadian retirement plan were 3.94% and 5.00%, respectively.

Schedule of Funded Status of the Pension Plans

The measurement date for the Company’s Plans is December 31. The funded status of the Plans as of December 31 were as follows:



(in millions)	2015			2014
Change in Benefit Obligation:
Projected benefit obligation at beginning of year	$	47.1		$	36.4
Service cost	0.8			0.9
Interest cost	1.9			1.8
Plan amendments	0.1			0.2
Actuarial (gain) loss	(3.3		)	9.2
Curtailments	—			(0.1		)
Settlements	(16.9		)	—
Benefits paid	(0.8		)	(0.7		)
Expenses paid	(0.1		)	(0.2		)
Foreign currency exchange rate changes	(0.6		)	(0.4		)
Projected benefit obligation at end of year	$	28.2		$	47.1
Change in Plan Assets:
Fair value of plan assets at beginning of year	$	32.5		$	30.5
Actual (loss) return on assets	(1.3		)	2.2
Employer contribution	1.1			1.0
Settlements	(16.9		)	—
Benefits paid	(0.8		)	(0.7		)
Expenses paid	(0.1		)	(0.2		)
Foreign currency exchange rate changes	(0.6		)	(0.3		)
Fair value of plan assets at end of year	$	13.9		$	32.5
Funded status	$	(14.3	)	$	(14.6	)

Schedule of Amounts Recognized in the Consolidated Balance Sheet and the Accumulated Benefit Obligation and Fair Value of Assets

The following table represents amounts recorded in the Consolidated Balance Sheets:



	December 31,
(in millions)	2015		2014
Amounts recognized in the Consolidated Balance Sheets:
Non-current benefit liability	$	14.5	$	14.9
Non-current benefit asset	0.2		0.3

Schedule of Weighted-Average Assumptions Used in Calculating Benefit Obligations

The following assumptions, calculated on a weighted‑average basis, were used to determine benefit obligations for the Company’s defined benefit pension plans as of December 31:



	2015		2014
Discount rate^(a)	4.44	%	5.00	%


(a)	The discount rates used in 2015 to determine the expenses for the United States retirement plan and Canadian retirement plan were 4.26% and 4.30%, respectively. The discount rates used in 2014 to determine the benefit obligations for the United States and Canadian defined benefit pension plans were both 5.00%

Schedule of Estimated Future Benefit Payments

The following table presents estimated future benefit payments:



(in millions)
Fiscal 2016	$	0.9
Fiscal 2017	0.9
Fiscal 2018	1.0
Fiscal 2019	1.0
Fiscal 2020	1.1
Fiscal 2021 ‑ Fiscal 2025	6.5

Schedule of Target and Actual Asset Allocations

Target and actual asset allocations are as follows:



	2015 Target		2015 Actual
Common/collective trust consisting primarily of:
Equity securities	60.00	%	74.83	%
Debt securities	40.00	%	21.03	%
Other	—	%	4.14	%
Total plan assets	100.00	%	100.00	%

Schedule of Fair Value of Pension Plan Assets by Asset Category

The fair value of the Company’s plan assets at December 31 by asset category was as follows:



(in millions)	2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Category
Common/collective trust
U.S. equity	$	7.7	$	—	$	7.7	$	—
International equity	2.7		—		2.7		—
Total equity based funds	10.4		—		10.4		—
Common/collective trust - fixed income	2.9		—		2.9		—
Money market funds	0.6		—		0.6		—
Total	$	13.9	$	—	$	13.9	$	—



(in millions)	2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Asset Category
Common/collective trust
U.S. equity	$	19.6	$	—	$	19.6	$	—
International equity	5.2		—		5.2		—
Total equity based funds	24.8		—		24.8		—
Common/collective trust - fixed income	7.0		—		7.0		—
Money market funds	0.7		—		0.7		—
Total	$	32.5	$	—	$	32.5	$	—

Schedule of Expenses Related to the Multi-employer Benefit Plans

The expense recognized by the Company for such contributions for the years ended December 31 were as follows:



(in millions)	2015		2014
Multi‑employer retirement plan expense	$	5.0	$	4.7
Multi‑employer health and welfare plan expense	2.4		2.2

Schedule of Information Regarding Multi-employer Pension Plans

The following table presents information regarding the multi‑employer pension plans that are significant to the Company for the year ended December 31, 2015 and 2014, respectively:

(in millions)

Pension Fund

EIN/Pension Plan Number

Pension Protection Act
Zone Status⁽¹⁾2015

FIP/RP Status
Pending/Implemented⁽²⁾

Contributions of the Company 2015

Surcharge Imposed⁽³⁾

Expiration Date
of Collective
Bargaining Agreement

Year Contributions to Plan Exceeded More than 5 Percent of Total Contributions

United Furniture Workers Pension Fund A⁽⁴⁾

13-5511877-001

Red

Implemented

1.1

Yes, 10%

2016

2013, 2014, 2015

Pension Plan of the National Retirement Fund

13-6130178-001

Red

Implemented

1.2

Yes, 10%

2016

N/A

Central States, Southeast & Southwest Areas Pension Plan

36-6044243-001

Red

Implemented

0.5

Yes, 10%

2016

N/A

(in millions)

Pension Fund

EIN/Pension Plan Number

Pension Protection Act
Zone Status⁽¹⁾ 2014

FIP/RP Status
Pending/Implemented⁽²⁾

Contributions of the Company 2014

Surcharge Imposed⁽³⁾

Expiration Date
of Collective
Bargaining Agreement

Year Contributions to Plan Exceeded More than 5 Percent of Total Contributions

United Furniture Workers Pension Fund A⁽⁴⁾

13-5511877-001

Red

Implemented

0.9

Yes, 10.0%

2016 and 2017

2013, 2014

Pension Plan of the National Retirement Fund

13-6130178-001

Red

Implemented

1.1

Yes, 10.0%

2016

N/A

Central States, Southeast & Southwest Areas Pension Plan

36-6044243-001

Red

Implemented

0.4

Yes, 10.0%

2015

N/A

(1)


(2)	Funding Improvement Plan or Rehabilitation Plan as defined in the Employment Retirement Security Act of 1974 has been implemented or is pending.


(3)	Indicates whether the Company paid a surcharge to the plan in the most current year due to funding shortfalls and the amount of the surcharge.


(4)	The Company represented more than 5.0% of the total contributions for the most recent plan year available.

Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2015

Stockholders' Equity Note [Abstract]

Changes in accumulated other comprehensive income

Accumulated Other Comprehensive Loss (“AOCL”). AOCL consisted of the following:



	Year Ended December 31,
(in millions)	2015			2014			2013
Foreign Currency Translation
Balance at beginning of period	$	(54.0	)	$	(15.6	)	$	(5.0	)
Other comprehensive (loss) income:
Foreign currency translation adjustments ⁽¹⁾	(61.4		)	(38.4		)	(13.3		)
Tax benefit ⁽¹⁾	—			—			2.7
Balance at end of period	$	(115.4	)	$	(54.0	)	$	(15.6	)

Interest Rate Swap Agreement
Balance at beginning of period	$	(0.7	)	$	(1.4	)	$	(2.7	)
Other comprehensive income:
Net change from period revaluations:	3.1			3.0			5.2
Tax expense ⁽²⁾	(1.2		)	(1.2		)	(1.5		)
Total other comprehensive income before reclassifications, net of tax	1.9			1.8			3.7
Net amount reclassified to earnings ⁽³⁾	(1.9		)	(1.9		)	(3.2		)
Tax benefit ⁽²⁾	0.7			0.8			0.8
Total amount reclassified from accumulated other comprehensive loss, net of tax	(1.2		)	(1.1		)	(2.4		)
Total other comprehensive income	0.7			0.7			1.3
Balance at end of period	$	—		$	(0.7	)	$	(1.4	)

Pension Benefits
Balance at beginning of period	$	(2.4	)	$	3.2		$	—
Other comprehensive income:
Net change from period revaluations:	0.2			(9.0		)	5.2
Tax (expense) benefit ⁽²⁾	—			3.4			(2.0		)
Total other comprehensive income (loss) before reclassifications, net of tax	0.2			(5.6		)	3.2
Net amount reclassified to earnings	$	1.3		$	—		$	—
Tax benefit⁽²⁾	(0.5		)	—			0.0
Total amount reclassified from accumulated other comprehensive income, net of tax	0.8			—			—
Total other comprehensive income (loss)	1.0			(5.6		)	3.2
Balance at end of period	$	(1.4	)	$	(2.4	)	$	3.2

Foreign Exchange Forward Contracts
Balance at beginning of period	$	1.3		$	—		$	—
Other comprehensive income (loss):
Net change from period revaluations:	14.6			3.4			—
Tax expense ⁽²⁾	(3.8		)	(0.9		)	—
Total other comprehensive income before reclassifications, net of tax	10.8			2.5			—
Net amount reclassified to earnings ⁽⁴⁾	(7.4		)	(1.6		)	—
Tax benefit ⁽²⁾	1.9			0.4			—
Total amount reclassified from accumulated other comprehensive income, net of tax	(5.5		)	(1.2		)	—
Total other comprehensive income	5.3			1.3			—
Balance at end of period	$	6.6		$	1.3		$	—


(1)	In 2015, 2014 and 2013, there were no tax impacts related to foreign currency translation adjustments and no amounts were reclassified to earnings. In 2012, a $2.7 million tax impact was recorded which reversed in 2013.


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


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


(4)	This amount was included in cost of sales, net on the accompanying Consolidated Statements of Income.

Stock-based Compensation (Tables)

12 Months Ended

Dec. 31, 2015

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

Schedule of Stock-based Compensation Expense



	December 31,
(in millions)	2015		2014		2013
PRSU expense	$	13.7	$	3.5	$	3.0
Stock option expense	6.6		7.0		8.3
RSU/DSU expense	2.2		2.9		5.6
Total stock-based compensation expense	$	22.5	$	13.4	$	16.9

Summary of PRSU Activity and Related Information

A summary of the Company’s PRSU activity and related information for the years ended December 31, 2015 and 2014 is presented below:



(shares in millions)	Shares		Weighted Average Grant Date Fair Value
Awards unvested at December 31, 2013	0.3		$	39.04
Granted	0.3		51.87
Vested	0.0		37.05
Forfeited	(0.3	)	39.38
Awards unvested at December 31, 2014	0.3		$	53.45
Granted	1.7		70.43
Vested	—		—
Forfeited	(0.1	)	56.74
Awards unvested at December 31, 2015	1.9		$	68.17



(shares in millions)
Number of Shares Granted	Maximum Number of Shares to be Awarded	Performance Date	Vesting Schedule
0.26	0.78	December 31, 2017	December 31, 2017
1.39	1.39	December 31, 2017⁽¹⁾	December 31, 2017⁽¹⁾
0.07	0.07	December 31, 2016	Three annual installments beginning on September 4, 2016



(1)	These shares will vest in full if the Company achieves the performance metric per the award agreement in 2017. In addition, if this target is not met in 2017 but the Company achieves the performance metric in 2018, then one-third, or 0.46 million, of the PRSUs will vest, and the remaining PRSUs shall be forfeited.

Stock Options Valuation Assumptions



	Year Ended
	December 31,
	2015	2014	2013
Expected volatility range of stock	34.0% - 36.2%	56.7% - 66.5%	63.0% - 72.8%
Expected life of option, range in years	3 - 5	2 - 4	2 - 3
Risk-free interest range rate	0.9% - 1.5%	0.4% - 1.4%	0.3% - 0.6%
Expected dividend yield on stock	0.0% - 0.0%	0.6% - 0.7%	0.6% - 0.9%

Schedule of Stock Option Activity

A summary of the Company’s unvested shares relating to stock options as of December 31, 2015 and 2014, and changes during the years ended December 31, 2015 and 2014, are presented below:



(shares in millions)	Shares		Weighted Average Grant Date Fair Value
Options unvested at December 31, 2013	0.6		$	42.16
Granted	0.2		52.08
Vested	(0.3	)	42.46
Forfeited	0.0		50.53
Options unvested at December 31, 2014	0.5		$	46.23
Granted	0.8		63.55
Vested	(0.4	)	44.25
Forfeited	(0.1	)	57.12
Options unvested at December 31, 2015	0.8		$	62.34

A summary of the Company’s stock option activity under the 2003 Plan and 2013 Plan for the years ended December 31, 2015 and 2014 is presented below:



(shares in millions)	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (Years)	Aggregate Intrinsic Value
Options outstanding at December 31, 2013	2.8		$	21.73
Granted	0.2		52.08
Released	(0.2	)	20.82
Forfeited	0.0		50.53
Options outstanding at December 31, 2014	2.8		$	24.18
Granted	0.8		63.55
Released	(1.4	)	14.70
Forfeited	(0.1	)	57.12
Options outstanding at December 31, 2015	2.1		$	42.75	6.47	$	53.4

Options exercisable at December 31, 2015	1.3		$	31.11	4.85	$	52.0

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity

A summary of the Company's RSU and DSU activity and related information for the years ended December 31, 2015 and 2014 is presented below:



(in millions, except release price and years)	Shares		Weighted Average Release Price		Aggregate Intrinsic Value
Awards outstanding at December 31, 2013	0.2		$	47.00
Granted	0.0		54.56
Vested	(0.1	)	44.47
Terminated	0.0		46.77
Awards outstanding at December 31, 2014	0.1		$	50.41
Granted	0.1		70.44
Vested	(0.1	)	58.73
Terminated	0.0		49.63
Awards outstanding at December 31, 2015	0.1		$	66.41	$	11.9

Schedule of Unrecognized Compensation Expense

summary of total unrecognized stock-based compensation expense based on current performance estimates related to the options, DSUs, RSUs and PRSUs granted during the year ended December 31, 2015 is presented below:



(in millions, except years)	December 31, 2015		Weighted Average Remaining Vesting Period (Years)
Unrecognized stock option expense	$	9.2	2.49
Unrecognized DSU/RSU expense	7.9		2.59
Unrecognized PRSU expense	10.9		2.29
Total unrecognized stock-based compensation expense	$	28.0	2.44

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Reconciliation of Statutory Tax Rate to Effective Tax Rate

The Company’s effective income tax provision differs from the amount calculated using the statutory U.S. federal income tax rate, principally due to the following:



	Year Ended December 31,
	2015					2014					2013
(dollars in millions)	Amount			Percentage of Income Before Income Taxes		Amount			Percentage of Income Before Income Taxes		Amount			Percentage of Income Before Income Taxes
Statutory U.S. federal income tax	$	70.0		35.0	%	$	61.2		35.0	%	$	44.8		35.0	%
State income taxes, net of federal benefit	1.1			0.6	%	1.1			0.6	%	1.7			1.3	%
Foreign repatriation, net of foreign tax credits	0.0			0.0	%	13.5			7.7	%	(16.0		)	(12.6	)%
Foreign tax differential	(10.0		)	(5.0	)%	(12.6		)	(7.2	)%	(12.3		)	(9.6	)%
Change in valuation allowances	2.5			1.2	%	(17.7		)	(10.0	)%	20.4			15.9	%
Uncertain tax positions	59.7			29.8	%	10.9			6.1	%	4.7			3.7	%
Subpart F income	1.9			1.0	%	1.9			1.1	%	1.5			1.2	%
Manufacturing deduction	(1.6		)	(0.8	)%	(3.7		)	(2.1	)%	0.1			—	%
Goodwill on disposal of business	0.0			0.0	%	7.5			4.2	%	—			—	%
Permanent and other	1.8			0.9	%	2.8			1.7	%	4.2			3.5	%
Effective income tax provision	$	125.4		62.7	%	$	64.9		37.1	%	$	49.1		38.4	%

Pre-tax Income Attributable to Operating Segments

The following sets forth the amount of income or (loss) before income taxes attributable to each of the Company’s geographies for the years ended December 31, 2015, 2014 and 2013:



	Year Ended December 31,
(in millions)	2015		2014		2013
Income before income taxes:
United States	$	120.2	$	46.9	$	(4.5	)
Rest of the world	79.9		128.0		132.5
	$	200.1	$	174.9	$	128.0

Reconciliation of Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



(in millions)
Balance as of December 31, 2013	$	26.1
Additions based on tax positions related to 2014	24.3
Additions for tax positions of prior years	0.5
Expiration of statutes of limitations	(3.2		)
Settlements of uncertain tax positions with tax authorities	(0.1		)
Balance as of December 31, 2014	47.6
Additions based on tax positions related to 2015	0.9
Additions for tax positions of prior years	25.7
Expiration of statutes of limitations	(2.1		)
Settlements of uncertain tax positions with tax authorities	(2.3		)
Balance as of December 31, 2015	$	69.8

Operating Loss and Tax Credit Carryforwards

The Company has the following gross income tax attributes available at December 31, 2015 and 2014 respectively (in millions):



	2015	2014
State net operating losses (“SNOLs”)	128.8	145.3
U.S. federal foreign tax credits (“FTCs”)	7.8	7.8
U.S. state income tax credits ("SITCs")	5.5	1.6
Foreign net operating losses (“FNOLs”)	38.0	44.2
Charitable contribution carryover ("CCCs")	23.7	8.4

Tax Provision Summary

The income tax provision consisted of the following:



	Year Ended December 31,
(in millions)	2015			2014			2013
Current provision
Federal	$	107.1		$	50.7		$	48.6
State	7.2			4.5			7.3
Foreign	32.4			36.9			42.3
Total current	$	146.7		$	92.1		$	98.2
Deferred provision
Federal	$	(12.3	)	$	(25.2	)	$	(47.0	)
State	(3.7		)	(1.2		)	0.4
Foreign	(5.3		)	(0.8		)	(2.5		)
Total deferred	(21.3		)	(27.2		)	(49.1		)
Total income tax provision	$	125.4		$	64.9		$	49.1

Deferred Tax Assets and Liabilities Recognized in the Consolidated Balance Sheets

The net deferred tax assets and liabilities recognized in the accompanying Consolidated Balance Sheets consisted of the following:



	December 31,
(in millions)	2015			2014
Deferred tax assets:
Stock-based compensation	$	16.0		$	12.4
Accrued expenses and other	57.6			57.9
Net operating losses, foreign tax credits and charitable contribution carryforward	33.1			30.6
Inventories	5.1			4.5
Transaction costs	22.0			14.5
Property, plant and equipment	2.9			4.0
Total deferred tax assets	136.7			123.9
Valuation allowances	(24.2		)	(21.7		)
Total net deferred tax assets	$	112.5		$	102.2
Deferred tax liabilities:
Intangible assets	$	(247.8	)	$	(258.1	)
Property, plant and equipment	(42.0		)	(45.7		)
Accrued expenses and other	(5.9		)	(4.5		)
Total deferred tax liabilities	(295.7		)	(308.3		)
Net deferred tax liabilities	$	(183.2	)	$	(206.1	)

Earnings Per Common Share (Tables)

12 Months Ended

Dec. 31, 2015

Earnings Per Share [Abstract]

Earnings Per Share

The following table sets forth the components of the numerator and denominator for the computation of basic and diluted earnings per share for net income attributable to Tempur Sealy International.



	Year Ended December 31,
(in millions, except per common share amounts)	2015		2014		2013
Numerator:
Net income attributable to Tempur Sealy International, Inc.	$	73.5	$	108.9	$	78.6

Denominator:
Denominator for basic earnings per common share—weighted average shares	61.7		60.8		60.3
Effect of dilutive securities:
Employee stock based compensation	0.9		1.3		1.3
Denominator for diluted earnings per common share—adjusted weighted average shares	62.6		62.1		61.6

Basic earnings per common share	$	1.19	$	1.79	$	1.30

Diluted earnings per common share	$	1.17	$	1.75	$	1.28

Business Segment Information (Tables)

12 Months Ended

Dec. 31, 2015

Segment Reporting [Abstract]

Total Assets and Long-lived Assets by Segment

The following table summarizes total assets by segment:



	December 31,			December 31,
(in millions)	2015			2014
North America	$	2,533.1		$	2,465.2
International	477.1			474.3
Corporate	775.0			820.9
Inter-segment eliminations	(1,129.7		)	(1,177.7		)
Total assets	$	2,655.5		$	2,582.7

The following table summarizes property, plant and equipment, net by segment:



	December 31,		December 31,
(in millions)	2015		2014
North America	$	239.2	$	240.5
International	54.8		60.3
Corporate	67.7		54.8
Total property, plant and equipment, net	$	361.7	$	355.6

Segment Financial Information

The following table summarizes segment information for the twelve months ended December 31, 2015:



(in millions)	North America		International			Corporate			Eliminations			Consolidated
Bedding sales	$	2,428.9	$	458.3		$	—		$	—		$	2,887.2
Other sales	148.3		115.7			—			—			264.0
Net sales	2,577.2		574.0			—			—			3,151.2

Inter-segment sales	$	5.9	$	0.7		$	—		$	(6.6	)	$	—
Gross profit	954.6		294.3			—			—			1,248.9
Inter-segment royalty expense (income)	7.1		(7.1		)	—			—			—
Operating income (loss)	335.6		98.9			(125.4		)	—			309.1
Income (loss) before income taxes	324.4		73.2			(197.5		)	—			200.1

Depreciation and amortization⁽¹⁾	$	43.3	$	16.0		$	34.6		$	—		$	93.9
Capital expenditures	28.9		14.8			22.2			—			65.9


(1)	Depreciation and amortization includes stock-based compensation amortization expense.

The following table summarizes segment information for the twelve months ended December 31, 2014:



(in millions)	North America		International			Corporate			Eliminations			Consolidated
Bedding sales	$	2,261.9	$	464.6		$	—		$	—		$	2,726.5
Other sales	143.0		120.3			—			—			263.3
Net sales	2,404.9		584.9			—			—			2,989.8

Inter-segment sales	$	5.1	$	0.3		$	—		$	(5.4	)	$	—
Gross profit	834.8		315.6			—			—			1,150.4
Inter-segment royalty expense (income)	6.1		(6.1		)	—			—			—
Operating income (loss)	255.0		118.8			(97.5		)	—			276.3
Income (loss) before income taxes	228.0		112.2			(165.3		)	—			174.9

Depreciation and amortization⁽¹⁾	$	47.9	$	16.3		$	25.5		$	—		$	89.7
Capital expenditures	17.8		15.6			14.1			—			47.5


(1)	Depreciation and amortization includes stock-based compensation amortization expense.

The following table summarizes segment information for the twelve months ended December 31, 2013:



(in millions)	North America		International			Corporate			Eliminations			Consolidated
Bedding sales	$	1,779.3	$	419.1		$	—		$	—		$	2,198.4
Other sales	147.7		118.2			—			—			265.9
Net sales	1,927.0		537.3			—			—			2,464.3

Inter-segment sales	$	0.2	$	0.6		$	—		$	(0.8	)	$	—
Gross profit	710.2		304.7			—			—			1,014.9
Inter-segment royalty expense (income)	5.8		(5.8		)	—			—			—
Operating income (loss)	229.0		124.7			(109.9		)	—			243.8
Income (loss) before income taxes	548.3		(204.5		)	(215.8		)	—			128.0

Depreciation and amortization⁽¹⁾	$	49.9	$	14.1		$	27.5		$	—		$	91.5
Capital expenditures	19.5		11.2			9.3			—			40.0


(1)	Depreciation and amortization includes stock-based compensation amortization expense.

Long-lived assets by geographic region

The following table summarizes property, plant and equipment, net by geographic region:



	December 31,		December 31,
(in millions)	2015		2014
United States	$	300.1	$	287.3
Canada	6.8		8.0
Other International	54.8		60.3
Total property, plant and equipment, net	$	361.7	$	355.6
Total International	61.6		68.3

Net sales by geographic region

The following table summarizes net sales by geographic region:



	Year Ended December 31,
(in millions)	2015		2014		2013
United States	$	2,374.7	$	2,188.8	$	1,736.8
Canada	202.5		216.1		190.2
Other International	574.0		584.9		537.3
Total net sales	$	3,151.2	$	2,989.8	$	2,464.3
Total International	$	776.5	$	801.0	$	727.5

Quarterly Financial Data (unaudited) (Tables)

12 Months Ended

Dec. 31, 2015

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data

Quarterly results of operations for the years ended December 31, 2015 and 2014 are summarized below:



(in millions, except per share amounts)	First Quarter		Second Quarter			Third Quarter		Fourth Quarter
2015
Net sales	$	739.5	$	764.4		$	880.0	$	767.3
Gross profit	278.7		297.5			359.6		313.1
Operating income	54.4		52.0			110.9		91.8
Net income (loss)	23.4		21.2			40.2		(11.3		)
Basic earnings (loss) per common share	$	0.38	$	0.35		$	0.65	$	(0.18	)
Diluted earnings (loss) per common share	$	0.38	$	0.34		$	0.64	$	(0.18	)

2014
Net sales	$	701.9	$	715.0		$	827.4	$	745.5
Gross profit	269.5		268.3			318.5		294.1
Operating income	62.4		50.3			87.1		76.5
Net income	27.4		(2.2		)	37.1		46.6
Basic earnings (loss) per common share	$	0.45	$	(0.04	)	$	0.61	$	0.77
Diluted earnings (loss) per common share	$	0.44	$	(0.04	)	$	0.60	$	0.75

Guarantor/Non-Guarantor Financial Information (Tables)

12 Months Ended

Dec. 31, 2015

Guarantor/Non-Guarantor Financial Information

Schedule of Supplemental Condensed Consolidating Statements of Operations

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Consolidated Statements of Income and Comprehensive Income

Year Ended December 31, 2015

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	2,422.9		$	778.9		$	(50.6	)	$	3,151.2
Cost of sales	—			1,532.6			420.3			(50.6		)	1,902.3
Gross profit	—			890.3			358.6			—			1,248.9
Selling and marketing expenses	4.1			460.1			183.8			—			648.0
General, administrative and other expenses	20.8			232.6			68.6			—			322.0
Equity income in earnings of unconsolidated affiliates	—			—			(11.9		)	—			(11.9		)
Royalty income, net of royalty expense	—			(18.3		)	—			—			(18.3		)
Operating (loss) income	(24.9		)	215.9			118.1			—			309.1

Other expense, net:
Third party interest expense, net	27.2			66.2			2.7			—			96.1
Intercompany interest expense (income), net	32.9			(35.5		)	2.6			—			—
Interest expense, net	60.1			30.7			5.3			—			96.1
Other (income) expense, net	—			(8.1		)	21.0			—			12.9
Total other expense	60.1			22.6			26.3			—			109.0

Income from equity investees	132.9			64.7			—			(197.6		)	—

Income before income taxes	47.9			258.0			91.8			(197.6		)	200.1
Income tax benefit (provision)	26.8			(125.1		)	(27.1		)	—			(125.4		)
Net income	74.7			132.9			64.7			(197.6		)	74.7
Less: net income attributable to non-controlling interest	1.2			1.2			—			(1.2		)	1.2
Net income attributable to Tempur Sealy International, Inc.	$	73.5		$	131.7		$	64.7		$	(196.4	)	$	73.5

Comprehensive income	$	19.1		$	130.9		$	(3.3	)	$	(127.6	)	$	19.1

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Consolidated Statements of Income and Comprehensive Income

Year Ended December 31, 2014

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	2,229.5		$	802.9		$	(42.6	)	$	2,989.8
Cost of sales	—			1,465.3			416.7			(42.6		)	1,839.4
Gross profit	—			764.2			386.2			—			1,150.4
Selling and marketing expenses	2.4			431.2			186.3			—			619.9
General, administrative and other expenses	13.4			200.5			66.7			—			280.6
Equity income in earnings of unconsolidated affiliates	—			—			(8.3		)	—			(8.3		)
Royalty income, net of royalty expense	—			(18.1		)	—			—			(18.1		)
Operating (loss) income	(15.8		)	150.6			141.5			—			276.3

Other expense, net:
Third party interest expense, net	27.0			62.4			2.5			—			91.9
Intercompany interest expense (income), net	32.7			(34.6		)	1.9			—			—
Interest expense, net	59.7			27.8			4.4			—			91.9
Loss on disposal, net	—			23.2			—			—			23.2
Other (income) expense, net	—			(17.2		)	3.5			—			(13.7		)
Total other expense	59.7			33.8			7.9			—			101.4

Income from equity investees	159.2			98.7			—			(257.9		)	—

Income before income taxes	83.7			215.5			133.6			(257.9		)	174.9
Income tax benefit (provision)	26.3			(56.3		)	(34.9		)	—			(64.9		)
Net income	110.0			159.2			98.7			(257.9		)	110.0
Less: net income attributable to non-controlling interest	1.1			1.1			—			(1.1		)	1.1
Net income attributable to Tempur Sealy International, Inc.	$	108.9		$	158.1		$	98.7		$	(256.8	)	$	108.9

Comprehensive income	$	66.9		$	163.3		$	60.3		$	(223.6	)	$	66.9

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Consolidated Statements of Income and Comprehensive Income

Year Ended December 31, 2013

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Eliminations			Consolidated
Net sales	$	—		$	1,758.2		$	728.1		$	(22.0	)	$	2,464.3
Cost of sales	—			1,110.5			360.9			(22.0		)	1,449.4
Gross profit	—			647.7			367.2			—			1,014.9
Selling and marketing expenses	2.4			358.1			162.4			—			522.9
General, administrative and other expenses	17.1			181.6			67.6			—			266.3
Equity income in earnings of unconsolidated affiliates	—			—			(4.4		)	—			(4.4		)
Royalty income, net of royalty expense	—			(13.7		)	—			—			(13.7		)
Operating (loss) income	(19.5		)	121.7			141.6			—			243.8

Other expense, net:
Third party interest expense, net	27.5			81.5			1.8			—			110.8
Intercompany interest expense (income), net	32.7			(34.1		)	1.4			—			—
Interest expense (income), net	60.2			47.4			3.2			—			110.8
Other expense, net	—			(0.9		)	5.9			—			5.0
Total other expense (income)	60.2			46.5			9.1			—			115.8

Income from equity investees	133.4			93.6			—			(227.0		)	—

Income before income taxes	53.7			168.8			132.5			(227.0		)	128.0
Income tax benefit (provision)	25.2			(35.4		)	(38.9		)	—			(49.1		)
Net income	78.9			133.4			93.6			(227.0		)	78.9
Less: net income attributable to non-controlling interest	0.3			0.3			—			(0.3		)	0.3
Net income attributable to Tempur Sealy International, Inc.	$	78.6		$	133.1		$	93.6		$	(226.7	)	$	78.6

Comprehensive income	$	72.5		$	133.8		$	86.2		$	(220.0	)	$	72.5

Schedule of Supplemental Condensed Consolidating Balance Sheets

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Consolidated Balance Sheets

December 31, 2015

(in millions)



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

Current Assets:
Cash and cash equivalents	$	—	$	121.8	$	32.1		$	—		$	153.9
Accounts receivable, net	—		231.9		147.5			—			379.4
Inventories	—		145.3		53.9			—			199.2
Income tax receivable	193.1		—		—			(193.1		)	—
Prepaid expenses and other current assets	—		43.5		33.1			—			76.6
Total Current Assets	193.1		542.5		266.6			(193.1		)	809.1
Property, plant and equipment, net	—		300.1		61.6			—			361.7
Goodwill	—		501.4		208.0			—			709.4
Other intangible assets, net	—		612.9		82.5			—			695.4
Deferred tax asset	16.0		—		12.2			(16.0		)	12.2
Other non-current assets	—		23.3		44.4			—			67.7
Net investment in subsidiaries	1,960.5		—		—			(1,960.5		)	—
Due from affiliates	548.1		1,655.3		4.8			(2,208.2		)	—
Total Assets	$	2,717.7	$	3,635.5	$	680.1		$	(4,377.8	)	$	2,655.5

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:
Accounts payable	$	—	$	212.2	$	54.1		$	—		$	266.3
Accrued expenses and other current liabilities	1.4		183.8		68.8			—			254.0
Income taxes payable	—		196.0		8.3			(193.1		)	11.2
Current portion of long-term debt	—		168.7		12.8			—			181.5
Total Current Liabilities	1.4		760.7		144.0			(193.1		)	713.0
Long-term debt, net	811.9		461.4		—			—			1,273.3
Deferred income taxes	—		189.8		21.6			(16.0		)	195.4
Other non-current liabilities	—		166.6		4.6			—			171.2
Due to affiliates	1,601.8		96.5		604.9			(2,303.2		)	—
Total Liabilities	2,415.1		1,675.0		775.1			(2,512.3		)	2,352.9

Redeemable non-controlling interest	12.4		12.4		—			(12.4		)	12.4

Total Stockholders’ Equity	290.2		1,948.1		(95.0		)	(1,853.1		)	290.2
Total Liabilities and Stockholders’ Equity	$	2,717.7	$	3,635.5	$	680.1		$	(4,377.8	)	$	2,655.5

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Consolidated Balance Sheets

December 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	$	0.4	$	25.5	$	36.6		$	—		$	62.5
Accounts receivable, net	—		241.2		144.6			—			385.8
Inventories	—		158.3		58.9			—			217.2
Income tax receivable	144.1		—		—			(144.1		)	—
Prepaid expenses and other current assets	—		28.2		28.3			—			56.5
Total Current Assets	144.5		453.2		268.4			(144.1		)	722.0
Property, plant and equipment, net	—		287.3		68.3			—			355.6
Goodwill	—		557.2		179.3			—			736.5
Other intangible assets, net	—		611.9		115.2			—			727.1
Deferred tax asset	12.4		—		10.7			(12.4		)	10.7
Other non-current assets	—		15.1		15.7			—			30.8
Net investment in subsidiaries	1,808.4		—		—			(1,808.4		)	—
Due from affiliates	51.4		2,226.0		5.3			(2,282.7		)	—
Total Assets	$	2,016.7	$	4,150.7	$	662.9		$	(4,247.6	)	$	2,582.7

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:
Accounts payable	$	—	$	170.4	$	56.0		$	—		$	226.4
Accrued expenses and other current liabilities	1.4		166.1		65.8			—			233.3
Income taxes payable	—		163.0		(6.9		)	(144.1		)	12.0
Current portion of long-term debt	—		61.8		4.6			—			66.4
Total Current Liabilities	1.4		561.3		119.5			(144.1		)	538.1
Long-term debt, net	368.7		1,129.6		—			—			1,498.3
Deferred income taxes	—		202.3		26.8			(12.4		)	216.7
Other non-current liabilities	—		109.3		5.0			—			114.3
Due to affiliates	1,431.3		340.2		849.4			(2,620.9		)	—
Total Liabilities	1,801.4		2,342.7		1,000.7			(2,777.4		)	2,367.4

Redeemable non-controlling interest	12.6		12.6		—			(12.6		)	12.6

Total Stockholders’ Equity	202.7		1,795.4		(337.8		)	(1,457.6		)	202.7
Total Liabilities and Stockholders’ Equity	$	2,016.7	$	4,150.7	$	662.9		$	(4,247.6	)	$	2,582.7

Schedule of Supplemental Condensed Consolidating Statements of Cash Flows

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Consolidated Statements of Cash Flows

Year Ended December 31, 2015

(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	$	(87.0	)	$	274.7		$	46.5		$	—	$	234.2

CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from disposition of business	—			7.2			—			—		7.2
Purchases of property, plant and equipment	—			(49.9		)	(16.0		)			(65.9		)
Other	—			(0.7		)	(0.3		)	—		(1.0		)
Net cash used in investing activities	—			(43.4		)	(16.3		)	—		(59.7		)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	—			402.9			10.6			—		413.5
Repayments 2012 Credit Agreement	—			(988.3		)	—			—		(988.3		)
Proceeds from issuance of 2023 Senior Notes	450.0			—			—			—		450.0
Net activity in investment in and advances (to) from subsidiaries and affiliates	(401.3		)	453.4			(52.1		)	—		—
Proceeds from exercise of stock options	20.4			—			—			—		20.4
Excess tax benefit from stock based compensation	21.8			—			—			—		21.8
Proceeds from issuance of treasury stock by CEO	5.0			—			—			—		5.0
Treasury stock repurchased	(1.3		)	—			—			—		(1.3		)
Payment of deferred financing costs	(8.0		)	—			—			—		(8.0		)
Other	—			(3.0		)	(0.8		)	—		(3.8		)
Net cash provided by (used in) financing activities	86.6			(135.0		)	(42.3		)	—		(90.7		)

NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			7.6			—		7.6
Increase (decrease) in cash and cash equivalents	(0.4		)	96.3			(4.5		)	—		91.4
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	0.4			25.5			36.6			—		62.5
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	—		$	121.8		$	32.1		$	—	$	153.9

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Consolidated Statements of Cash Flows

Year Ended December 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	$	(62.7	)	$	191.5		$	96.4		$	—	$	225.2

CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of business, net of cash acquired	—			—			(8.5		)	—		(8.5		)
Proceeds from disposition of business	—			43.5			—			—		43.5
Purchase of property, plant and equipment	—			(31.3		)	(16.2		)	—		(47.5		)
Other	—			3.0			(0.9		)	—		2.1
Net cash provided by (used in) investing activities	—			15.2			(25.6		)	—		(10.4		)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	$	—		$	271.5		$	—		$	—	$	271.5
Repayments of the 2012 Credit Agreement	—			(510.9		)	—			—		(510.9		)
Net activity in investment in and advances from (to) subsidiaries and affiliates	59.3			32.1			(91.4		)	—		—
Proceeds from exercise of stock options	4.3			—			—			—		4.3
Excess tax benefit from stock based compensation	1.7			—			—			—		1.7
Treasury stock repurchased	(2.2		)	—			—			—		(2.2		)
Payment of deferred financing costs	—			(3.1		)	—			—		(3.1		)
Other	—			(1.7		)	2.3			—		0.6
Net cash provided by (used in) financing activities	63.1			(212.1		)	(89.1		)	—		(238.1		)

NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			4.8			—		4.8
Increase (decrease) in cash and cash equivalents	0.4			(5.4		)	(13.5		)	—		(18.5		)
CASH AND CASH EQUIVALENTS, BEGININNG OF PERIOD	—			30.9			50.1			—		81.0
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	0.4		$	25.5		$	36.6		$	—	$	62.5

TEMPUR SEALY INTERNATIONAL, INC.

Supplemental Consolidated Statements of Cash Flows

Year Ended December 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	$	(66.1	)	$	80.9		$	83.7		$	—	$	98.5

CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of business, net of cash acquired	—			(1,035.3		)	(137.6		)	—		(1,172.9		)
Purchase of property, plant and equipment	—			(28.3		)	(11.7		)	—		(40.0		)
Other	—			(54.7		)	54.6			—		(0.1		)
Net cash used in investing activities	—			(1,118.3		)	(94.7		)	—		(1,213.0		)

CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from 2012 Credit Agreement	$	—		$	2,992.6		$	—		$	—	$	2,992.6
Repayments of the 2012 Credit Agreement	—			(1,658.3		)	—			—		(1,658.3		)
Proceeds from issuance of 2020 Senior Notes	375.0			—			—			—		375.0
Proceeds from the 2011 Credit Facility	—			46.5			—			—		46.5
Repayments of the 2011 Credit Facility	—			(696.5		)	—			—		(696.5		)
Net activity in investment in and advances (to) from subsidiaries and affiliates	(772.8		)	874.9			(102.1		)	—		—
Proceeds from exercise of stock options	8.7			—			—			—		8.7
Excess tax benefit from stock based compensation	5.4			—			—			—		5.4
Treasury stock repurchased	458.2			(465.2		)	—			—		(7.0		)
Payment of deferred financing costs	(8.4		)	(43.6		)	—			—		(52.0		)
Other	—			(1.3		)	0.3			—		(1.0		)
Net cash provided by (used in) financing activities	66.1			1,049.1			(101.8		)	—		1,013.4

NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			2.8			—		2.8
Increase in cash and cash equivalents	—			11.7			(110.0		)	—		(98.3		)
CASH AND CASH EQUIVALENTS, BEGININNG OF PERIOD	—			19.2			160.1			—		179.3
CASH AND CASH EQUIVALENTS, END OF PERIOD	$	—		$	30.9		$	50.1		$	—	$	81.0

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2015 USD ($) channel facility shares	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Feb. 01, 2016 USD ($)
Business Acquisition [Line Items]
Number of products sales channels \| channel	2
Noncontrolling interest, ownership percentage by parent	100.00%
Depreciation expense	$ 53,500,000	$ 57,700,000	$ 59,400,000
Product warranty accrual, current	14,900,000	16,100,000
Product warranty accrual, noncurrent	14,700,000	15,200,000
Allowance for doubtful accounts included in accounts receivable, net	23,300,000	19,500,000
Shipping and handling included in net sales	11,100,000	14,700,000	12,500,000
Shipping and handling included in cost of sales	161,600,000	169,200,000	142,500,000
Other income, net of expense	9,500,000	15,600,000	0
Advertising costs charged to expense	360,500,000	326,700,000	274,200,000
Advertising costs deferred and included in Prepaid expenses and other current assets	13,700,000	9,700,000
Research and development costs charged to expense	28,700,000	21,600,000	21,000,000
Royalty revenue, net of royalty expense	$ 18,300,000	18,100,000	$ 13,700,000
Treasury stock sold (in shares) \| shares	69,686
Proceeds from issuance of treasury shares	$ 5,000,000
Self insurance reserve, excess loss coverage per claim per year	800,000
Self insurance reserve, current	6,600,000	4,800,000
Self insurance reserve, noncurrent	$ 11,500,000	$ 10,000,000
Number of active plants \| facility	2
Number of previously closed US facilities \| facility	9
Term of supply agreements, minimum	2 years
Term of supply agreements, maximum	5 years
Restructuring expenses	$ 13,500,000
Sealy Canada
Business Acquisition [Line Items]
Noncontrolling interest, ownership percentage by parent	100.00%
Variable Interest Entity, Primary Beneficiary \| Comfort Revolution
Business Acquisition [Line Items]
Equity method investment, ownership percentage	45.00%
Subsequent Event
Business Acquisition [Line Items]
Amount of shares authorized to be repurchased				$ 200,000,000.0

Summary of Significant Accounting Policies - Schedule of Inventory, Current (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Finished goods	$ 126.7	$ 134.0
Work-in-process	14.0	11.4
Raw materials and supplies	58.5	71.8
Total	$ 199.2	$ 217.2

Summary of Significant Accounting Policies - Schedule of Property, Plant and Equipment (Details)	12 Months Ended
	Dec. 31, 2015
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	25 years
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	30 years
Computer equipment and software \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	3 years
Computer equipment and software \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	5 years
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	4 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	7 years
Machinery and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	3 years
Machinery and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	7 years
Office furniture and fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	5 years
Office furniture and fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives (in years)	7 years

Summary of Significant Accounting Policies - Property, Plant and Equipment Summary (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 688.6	$ 654.1
Accumulated depreciation	(326.9)	(298.5)
Total property, plant, and equipment, net	361.7	355.6
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	257.0	243.5
Land and buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	243.7	247.1
Computer equipment and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	78.2	69.2
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	52.3	54.9
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 57.4	$ 39.4

Summary of Significant Accounting Policies - Changes in Accrued Sales Returns (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Changes in Accrued Sales Returns [Roll Forward]
Beginning balance	$ 32.3	$ 28.7
Amounts accrued	123.0	127.4
Returns charged to accrual	(126.8)	(123.8)
Ending balance	$ 28.5	$ 32.3

Summary of Significant Accounting Policies - Warranty Terms (Details)	12 Months Ended
	Dec. 31, 2015
Pillows \| Non-prorated
Valuation and Qualifying Accounts Disclosure [Line Items]
Warranty term (in years)	3 years
Tempur North America \| Mattresses \| Minimum
Valuation and Qualifying Accounts Disclosure [Line Items]
Warranty term (in years)	10 years
Tempur North America \| Mattresses \| Minimum \| Non-prorated
Valuation and Qualifying Accounts Disclosure [Line Items]
Warranty term (in years)	10 years
Tempur North America \| Mattresses \| Maximum
Valuation and Qualifying Accounts Disclosure [Line Items]
Warranty term (in years)	25 years
Tempur North America \| Mattresses \| Maximum \| Non-prorated
Valuation and Qualifying Accounts Disclosure [Line Items]
Warranty term (in years)	15 years
Tempur International \| Mattresses \| Non-prorated
Valuation and Qualifying Accounts Disclosure [Line Items]
Warranty term (in years)	5 years
Tempur International \| Mattresses \| Prorated
Valuation and Qualifying Accounts Disclosure [Line Items]
Warranty term (in years)	10 years
Tempur International \| Mattresses \| Minimum
Valuation and Qualifying Accounts Disclosure [Line Items]
Warranty term (in years)	5 years
Tempur International \| Mattresses \| Maximum
Valuation and Qualifying Accounts Disclosure [Line Items]
Warranty term (in years)	15 years

Summary of Significant Accounting Policies - Warranty Activity (Details) - Warranty Reserves - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Movement in Extended Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 31.3	$ 26.1
Amounts accrued	28.8	34.2
Warranties charged to accrual	(30.5)	(29.0)
Balance at end of period	$ 29.6	$ 31.3

Recently Issued Accounting Pronouncements (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
New Accounting Pronouncement, Early Adoption [Line Items]
Long-term debt, net	$ 1,273.3	$ 1,498.3
Deferred income taxes	195.4	216.7
Adjustments for New Accounting Principle, Early Adoption
New Accounting Pronouncement, Early Adoption [Line Items]
Long-term debt, net	24.8	37.6
Deferred income taxes	$ 2.2	$ 0.2

Acquisitions and Divestitures - Additional Information (Details)				3 Months Ended	12 Months Ended
	May. 06, 2015 USD ($)	Jul. 01, 2014 USD ($)	Jun. 30, 2014 USD ($) facility	Sep. 30, 2014 USD ($)	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)	Dec. 31, 2011
Business Acquisition [Line Items]
Proceeds from disposition of business					$ 7,200,000	$ 43,500,000	$ 0
Portland Manufacturing Facility
Business Acquisition [Line Items]
Proceeds from disposition of business	$ 7,200,000
Gain (loss) on disposal					400,000
U.S. Innerspring
Business Acquisition [Line Items]
Gain (loss) on disposal						(23,200,000)
Number of divestitures \| facility			3
Total consideration			$ 47,800,000	$ 45,000,000
Other non-cash consideration			1,500,000
Working capital adjustment				$ 2,800,000
Assets of disposal group			$ 66,800,000
Transaction costs						1,400,000
Minimum
Business Acquisition [Line Items]
Fiscal period duration								364 days
Maximum
Business Acquisition [Line Items]
Fiscal period duration								371 days
Sealy
Business Acquisition [Line Items]
Direct transaction costs					$ 0	$ 0	18,700,000
Incremental interest expense							$ 19,900,000
Japanese Third Party Acquisition
Business Acquisition [Line Items]
Net consideration transferred		$ 8,500,000

Acquisitions and Divestitures - Pro Forma Information (Details) - Sealy $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2013 USD ($) $ / shares
Business Acquisition [Line Items]
Net sales	$ 2,757.2
Net income	$ 90.9
Earnings per common share – Diluted (in dollars per share) \| $ / shares	$ 1.49

Goodwill and Other Intangible Assets - Goodwill by Reportable Business Segment (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($) reporting_unit	Dec. 31, 2014 USD ($) segment	Dec. 31, 2013 USD ($)
Goodwill [Line Items]
Number of reportable segments \| segment		3
Goodwill [Roll Forward]
Goodwill, Beginning balance	$ 736.5	$ 759.6
Disposal of business			$ (21.4)
Goodwill resulting from acquisitions			2.3
Foreign currency translation adjustments			(4.0)
Foreign currency translation adjustments	(27.1)
Goodwill, Ending balance	$ 709.4	736.5	759.6
Tempur North America
Goodwill [Line Items]
Number of reporting units \| reporting_unit	3
Tempur International
Goodwill [Line Items]
Number of reporting units \| reporting_unit	1
Sealy
Goodwill [Roll Forward]
Goodwill, Beginning balance	$ 521.9
Goodwill, Ending balance		521.9
Operating Segments \| Tempur North America
Goodwill [Roll Forward]
Goodwill, Beginning balance	106.2	107.7
Disposal of business			0.0
Goodwill resulting from acquisitions			0.0
Foreign currency translation adjustments			(1.5)
Goodwill, Ending balance		106.2	107.7
Operating Segments \| Tempur North America \| Tempur Sealy U.S. [Member]
Goodwill [Roll Forward]
Goodwill, Beginning balance	574.5
Foreign currency translation adjustments	(11.7)
Goodwill, Ending balance	562.8	574.5
Operating Segments \| Tempur International
Goodwill [Roll Forward]
Goodwill, Beginning balance	108.4	107.3
Disposal of business			0.0
Goodwill resulting from acquisitions			2.3
Foreign currency translation adjustments			(1.2)
Goodwill, Ending balance		108.4	107.3
Operating Segments \| Tempur International \| Sealy Canada
Goodwill [Roll Forward]
Goodwill, Beginning balance	162.0
Foreign currency translation adjustments	(15.4)
Goodwill, Ending balance	146.6	162.0
Operating Segments \| Sealy
Goodwill [Roll Forward]
Goodwill, Beginning balance	521.9	544.6
Disposal of business			(21.4)
Goodwill resulting from acquisitions			0.0
Foreign currency translation adjustments			(1.3)
Goodwill, Ending balance		521.9	$ 544.6
Scenario, Previously Reported \| Operating Segments \| Tempur North America \| Tempur Sealy U.S. [Member]
Goodwill [Roll Forward]
Goodwill, Beginning balance	106.2
Goodwill, Ending balance		106.2
Scenario, Previously Reported \| Operating Segments \| Tempur International \| Sealy Canada
Goodwill [Roll Forward]
Goodwill, Beginning balance	108.4
Goodwill, Ending balance		108.4
Restatement Adjustment \| Operating Segments \| Tempur North America \| Tempur Sealy U.S. [Member]
Goodwill [Roll Forward]
Goodwill, Beginning balance	468.3
Goodwill, Ending balance		468.3
Restatement Adjustment \| Operating Segments \| Tempur International \| Sealy Canada
Goodwill [Roll Forward]
Goodwill, Beginning balance	$ 53.6
Goodwill, Ending balance		$ 53.6

Goodwill and Other Intangible Assets - Other Intangible Assets and Expected Future Amortization Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Gross carrying amount, total	$ 785.4	$ 801.2
Accumulated Amortization	90.0	74.1
Net Carrying Amount	695.4	727.1
Finite-Lived Intangible Assets, Net [Abstract]
Amortization expense relating to intangible assets	17.9	18.5	$ 15.2
Finite-Lived Intangible Assets, Future Amortization Expense [Abstract]
2016	17.9
2017	17.2
2018	15.4
2019	14.8
2020	13.8
Trade names
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Gross carrying amount - indefinite life intangible assets	558.1	569.0
Net Carrying Amount	$ 558.1	569.0
Contractual distributor relationships
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Useful Lives (Years)	15 years
Gross carrying amount - finite life intangible assets	$ 84.8	88.2
Accumulated Amortization	15.8	10.4
Net Carrying Amount	69.0	77.8
Technology and other
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Gross carrying amount - finite life intangible assets	90.8	92.6
Accumulated Amortization	39.2	32.6
Net Carrying Amount	$ 51.6	60.0
Technology and other \| Minimum
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Useful Lives (Years)	4 years
Technology and other \| Maximum
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Useful Lives (Years)	10 years
Patents, other trademarks, and other trade names
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Gross carrying amount - finite life intangible assets	$ 27.2	27.3
Accumulated Amortization	16.9	14.6
Net Carrying Amount	$ 10.3	12.7
Patents, other trademarks, and other trade names \| Minimum
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Useful Lives (Years)	5 years
Patents, other trademarks, and other trade names \| Maximum
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Useful Lives (Years)	20 years
Customer databases, relationships and reacquired rights
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Gross carrying amount - finite life intangible assets	$ 24.5	24.1
Accumulated Amortization	18.1	16.5
Net Carrying Amount	$ 6.4	$ 7.6
Customer databases, relationships and reacquired rights \| Minimum
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Useful Lives (Years)	2 years
Customer databases, relationships and reacquired rights \| Maximum
Intangible Assets, Combined Indefinite lived and Finite lived Intangible Assets by Major Class [Line Items]
Useful Lives (Years)	5 years

Unconsolidated Affiliate Companies (Details) - Joint Ventures - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Unconsolidated Affiliate Companies
Ownership percentage	50.00%
Net investment	$ 13.6	$ 12.9
Current assets	50.0	49.7
Non-current assets	15.7	5.1
Current liabilities	37.3	29.7
Equity	28.4	25.1
Revenue	131.6	99.2
Gross profit	85.0	62.1
Income from operations	26.2	16.8
Net income	$ 20.1	$ 13.1

Debt - Schedule of Borrowings Outstanding (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Sep. 24, 2015	Apr. 12, 2013	Mar. 19, 2013	Dec. 19, 2012
Long-term Debt, Current and Noncurrent [Abstract]
Total debt	$ 1,479,600,000	$ 1,602,300,000
Less: deferred financing costs	(24,800,000)	(37,600,000)
Total debt, net	1,454,800,000	1,564,700,000
Less: current portion	(181,500,000)	(66,400,000)
Total long term debt, net	1,273,300,000	1,498,300,000
2020 Senior Notes
Long-term Debt, Current and Noncurrent [Abstract]
Senior notes, noncurrent	$ 375,000,000.0	$ 375,000,000				$ 375,000,000.0
Line of Credit Facility [Abstract]
Stated percentage	6.875%	6.875%				6.875%
2023 Senior Notes
Long-term Debt, Current and Noncurrent [Abstract]
Senior notes, noncurrent	$ 450,000,000.0	$ 0	$ 450,000,000.0
Line of Credit Facility [Abstract]
Stated percentage	5.625%	0.00%	5.625%
8.0% Sealy Notes
Long-term Debt, Current and Noncurrent [Abstract]
Notes, carrying value	$ 111,100,000	$ 104,700,000
Line of Credit Facility [Abstract]
Stated percentage	8.00%	8.00%		8.00%	8.00%
Capital lease obligations and other
Long-term Debt, Current and Noncurrent [Abstract]
Capital lease obligations and other	$ 34,000,000	$ 27,700,000
2012 Credit Agreement \| Base
Long-term Debt, Current and Noncurrent [Abstract]
Line of credit	$ 409,400,000	$ 484,500,000
2012 Credit Agreement \| Base \| LIBOR
Line of Credit Facility [Abstract]
Index rate or LIBOR plus (percentage)	2.00%	2.25%
Effective percentage	2.42%
2012 Credit Agreement \| Term B Facility
Long-term Debt, Current and Noncurrent [Abstract]
Line of credit	$ 100,100,000	$ 594,400,000
2012 Credit Agreement \| Term B Facility \| LIBOR
Line of Credit Facility [Abstract]
Index rate or LIBOR plus (percentage)	2.75%	2.75%
Interest rate floor (as a percent)	0.75%	0.75%
Effective percentage	3.50%
LIBOR
Long-term Debt, Current and Noncurrent [Abstract]
Line of credit	$ 0	$ 16,000,000
LIBOR \| LIBOR
Line of Credit Facility [Abstract]
Index rate or LIBOR plus (percentage)		3.00%
Effective percentage	3.16%
LIBOR \| Base Rate
Line of Credit Facility [Abstract]
Index rate or LIBOR plus (percentage)		2.00%

Debt - Credit Facilities and Other Additional Information (Details) - USD ($)				12 Months Ended
	Oct. 17, 2014	Sep. 30, 2014	Dec. 12, 2012	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Sep. 24, 2015	Jul. 11, 2013	May. 16, 2013	Dec. 31, 2012	Dec. 19, 2012
Line of Credit Facility [Line Items]
Debt basket	$ 50,000,000
Cash Used for Repayments of Line of Credit				$ 50,000,000
Deferred financing costs						$ 54,300,000				$ 54,300,000
Write-off of deferred financing costs				$ 0	$ 0	$ 4,700,000
Minimum
Line of Credit Facility [Line Items]
Remaining lease term (in years)				2 years
Debt instrument amortization period deferred financing costs (in years	3 years			5 years
Maximum
Line of Credit Facility [Line Items]
Remaining lease term (in years)				10 years
Debt instrument amortization period deferred financing costs (in years	5 years			8 years
2023 Notes
Line of Credit Facility [Line Items]
Stated percentage				5.625%	0.00%		5.625%
Debt issuance cost				$ 12,000,000
Deferred financing costs				$ 8,000,000
Senior Notes
Line of Credit Facility [Line Items]
Stated percentage				6.875%	6.875%						6.875%
Debt issuance cost	$ 3,100,000
2012 Credit Agreement
Line of Credit Facility [Line Items]
Principal borrowing capacity, maximum			$ 350,000,000.0
Equity interest of subsidiary guarantor (percentage)				100.00%
Equity voting rights of subsidiary (percentage)				65.00%
Domestic qualified cash, maximum percentage				100.00%
Foreign qualified cash, maximum percentage				60.00%
Domestic and foreign qualified cash, maximum				$ 150,000,000.0
Domestic qualified cash				121,800,000
Foreign qualified cash, maximum				19,300,000
2012 Credit Agreement \| Senior Notes
Line of Credit Facility [Line Items]
Debt issuance cost		$ 3,300,000
2012 Credit Agreement \| Base
Line of Credit Facility [Line Items]
Principal borrowing capacity, maximum			$ 550,000,000.0
Debt instrument, reduction in applicable margin (percentage)								0.75%
Voluntary prepayments				13,900,000
2012 Credit Agreement \| Base \| Adjusted LIBOR
Line of Credit Facility [Line Items]
Index rate or LIBOR plus (percentage)			3.00%
2012 Credit Agreement \| Base \| Base Rate
Line of Credit Facility [Line Items]
Index rate or LIBOR plus (percentage)			2.00%
2012 Credit Agreement \| Term B Facility
Line of Credit Facility [Line Items]
Principal borrowing capacity, maximum			$ 870,000,000.0
Voluntary prepayments				$ 479,900,000
2012 Credit Agreement \| Term B Facility \| Adjusted LIBOR
Line of Credit Facility [Line Items]
Index rate or LIBOR plus (percentage)			4.00%
Debt instrument, reduction in applicable margin (percentage)									2.75%
2012 Credit Agreement \| Term B Facility \| Adjusted LIBOR \| Minimum
Line of Credit Facility [Line Items]
Index rate or LIBOR plus (percentage)			1.00%
Debt instrument, reduction in applicable margin (percentage)									0.75%
2012 Credit Agreement \| Term B Facility \| Base Rate
Line of Credit Facility [Line Items]
Index rate or LIBOR plus (percentage)			3.00%
Debt instrument, reduction in applicable margin (percentage)									1.75%
LIBOR
Line of Credit Facility [Line Items]
Initial unused commitment fee (percentage)				0.50%
Unused commitment fee (percentage)				0.375%
Total net leverage ratio				3.50
Credit Facility 2011
Line of Credit Facility [Line Items]
Write-off of deferred financing costs					$ 4,700,000

Debt - Notes Payable (Details) - USD ($)		12 Months Ended
Debt - Notes Payable (Details) - USD ($)	Mar. 19, 2013	Dec. 31, 2015	Sep. 24, 2015	Dec. 31, 2014	Apr. 12, 2013	Mar. 18, 2013	Dec. 19, 2012
2023 Notes
Debt Instrument [Line Items]
Senior notes, noncurrent		$ 450,000,000.0	$ 450,000,000.0	$ 0
Stated percentage		5.625%	5.625%	0.00%
Percentage of principal amount that may be redeemed		105.625%
Minimum percentage of notes not eligible for early redemption		65.00%
2023 Notes \| Any time on or after October 15, 2018
Debt Instrument [Line Items]
Redemption price, percentage		104.219%
2023 Notes \| Beginning on October 15, 2018
Debt Instrument [Line Items]
Redemption price, percentage		100.00%
2023 Notes \| Any time prior to October 15, 2018 with a 'make-whole' premium and accrued and unpaid interest, if any
Debt Instrument [Line Items]
Percentage of redemption on notes		100.00%
2023 Notes \| Any time prior to October 15, 2018 with the net cash proceeds from certain equity offerings plus accrued and unpaid interest, if any
Debt Instrument [Line Items]
Redemption price, percentage		35.00%
Senior Notes
Debt Instrument [Line Items]
Senior notes, noncurrent		$ 375,000,000.0		$ 375,000,000			$ 375,000,000.0
Stated percentage		6.875%		6.875%			6.875%
Percentage of principal amount that may be redeemed		106.875%
Minimum percentage of notes not eligible for early redemption		65.00%
Senior Notes \| Any time on or after December 15, 2016
Debt Instrument [Line Items]
Redemption price, percentage		103.438%
Senior Notes \| Any time on or after December 15, 2017
Debt Instrument [Line Items]
Redemption price, percentage		101.719%
Senior Notes \| Any time on or after December 15, 2018
Debt Instrument [Line Items]
Redemption price, percentage		100.00%
Senior Notes \| Any time prior to December 15, 2016 with 'make-whole' premium and accrued and unpaid interest, if any
Debt Instrument [Line Items]
Percentage of redemption on notes		100.00%
Senior Notes \| Any time prior to December 15, 2016 with the net cash proceeds from certain equity offerings plus accrued and unpaid interest, if any
Debt Instrument [Line Items]
Percentage of redemption on notes		35.00%
8.0% Sealy Notes
Debt Instrument [Line Items]
Stated percentage	8.00%	8.00%		8.00%	8.00%
Percentage of notes converted to cash					83.00%
Debt instrument, convertible, conversion ratio, period I	$ 2,325.43
Debt conversion ratio numerator	$ 1,000	$ 1,000
Debt instrument, convertible, conversion ratio, period II		$ 2,200
Outstanding convertible notes percentage		17.00%
Notes, fair value						$ 96,200,000
Notes, carrying value		$ 111,100,000		$ 104,700,000
Debt instrument, accreted discount		$ 14,900,000		8,700,000
8.0% Sealy Notes, due July 15, 2016				$ 104,700,000

Debt - Schedule of Maturities of Long-term Debt (Details) $ in Millions	Dec. 31, 2015 USD ($)
Debt Disclosure [Abstract]
2016	$ 181.5
2017	58.0
2018	314.1
2019	7.3
2020	460.8
Thereafter	457.9
Total	$ 1,479.6

Fair Value Measurements (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 24, 2015	Dec. 31, 2014	Apr. 12, 2013	Mar. 19, 2013	Mar. 18, 2013	Dec. 19, 2012
2023 Notes
Liabilities, Fair Value Disclosure [Abstract]
Stated percentage	5.625%	5.625%	0.00%
Senior Notes
Liabilities, Fair Value Disclosure [Abstract]
Stated percentage	6.875%		6.875%				6.875%
8.0% Sealy Notes
Liabilities, Fair Value Disclosure [Abstract]
Notes, fair value						$ 96.2
Stated percentage	8.00%		8.00%	8.00%	8.00%
Significant Other Observable Inputs (Level 2) \| 2023 Notes
Liabilities, Fair Value Disclosure [Abstract]
Notes, fair value	$ 453.4
Significant Other Observable Inputs (Level 2) \| Senior Notes
Liabilities, Fair Value Disclosure [Abstract]
Notes, fair value	393.8		$ 398.4
Significant Other Observable Inputs (Level 2) \| 8.0% Sealy Notes
Liabilities, Fair Value Disclosure [Abstract]
Notes, fair value	112.7		110.7
Fair Value, Measurements, Recurring
Assets, Fair Value Disclosure [Abstract]
Foreign exchange forward contracts	12.5		1.8
Assets, Fair Value	12.5		1.8
Liabilities, Fair Value Disclosure [Abstract]
Foreign exchange forward contracts	1.2		0.1
Notes, fair value	1.2		0.1
Fair Value, Measurements, Recurring \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets, Fair Value Disclosure [Abstract]
Foreign exchange forward contracts			0.0
Assets, Fair Value	0.0		0.0
Liabilities, Fair Value Disclosure [Abstract]
Foreign exchange forward contracts	0.0		0.0
Notes, fair value	0.0		0.0
Fair Value, Measurements, Recurring \| Significant Other Observable Inputs (Level 2)
Assets, Fair Value Disclosure [Abstract]
Foreign exchange forward contracts	12.5		1.8
Assets, Fair Value	12.5		1.8
Liabilities, Fair Value Disclosure [Abstract]
Foreign exchange forward contracts	1.2		0.1
Notes, fair value	1.2		0.1
Fair Value, Measurements, Recurring \| Significant Unobservable Inputs (Level 3)
Assets, Fair Value Disclosure [Abstract]
Foreign exchange forward contracts	0.0		0.0
Assets, Fair Value	0.0		0.0
Liabilities, Fair Value Disclosure [Abstract]
Foreign exchange forward contracts	0.0		0.0
Notes, fair value	$ 0.0		$ 0.0

Derivative Financial Instruments (Details) - USD ($) $ in Millions		12 Months Ended
	Aug. 08, 2011	Dec. 31, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Term of interest rate swap (in years)	4 years
Derivative Asset [Abstract]
Fair Value		$ 12.5	$ 1.8
Derivative Liability [Abstract]
Fair Value		1.2	0.1
Foreign Exchange Forward
Derivative Liability [Abstract]
Notional amount		87.0
Gain on derivative		5.7
Accrued expenses and other current liabilities \| Foreign Exchange Forward
Derivative Liability [Abstract]
Fair Value		1.2	0.1
Derivatives designated as hedging instruments \| Prepaid expenses and other current assets \| Foreign Exchange Forward
Derivative Asset [Abstract]
Fair Value		7.7	1.8
Derivatives designated as hedging instruments \| Other non-current assets \| Foreign Exchange Forward
Derivative Asset [Abstract]
Fair Value		1.3	0.0
Derivatives not designated as hedging instruments \| Prepaid expenses and other current assets \| Foreign Exchange Forward
Derivative Asset [Abstract]
Fair Value		$ 3.5	$ 0.0

Retirement Plans - Defined Contribution Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Deferred Profit Sharing
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, cost recognized	$ 2.8	$ 1.7	$ 4.0
401k Plan
Defined Contribution Plan Disclosure [Line Items]
Eligible employee contribution maximum (percentage)	15.00%
Employment eligibility for plan participation minimum (in days)	90 days
Defined contribution plan, employment eligibility to receive matching contributions, minimum (in years)	1 year
Defined contribution plan, percentage of eligible employee contribution match, first tier	100.00%
Defined contribution plan, percentage of eligible employee contributions matched fully, first tier	3.00%
Defined contribution plan, eligible employee contribution match, second tier	50.00%
Defined contribution plan, eligible employee contribution matched by the company, second tier	2.00%
Defined contribution plan, cost recognized	$ 7.3	$ 5.0	$ 1.7

Retirement Plans - Defined Benefit Plans (Details) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2015 USD ($)	Dec. 31, 2015 USD ($) facility	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Retirement plans
Number of active plants at which a defined benefit pension plan for current and former hourly employees is provided \| facility		2
Number of previously closed U.S. facilities at which a defined benefit pension plan for current and former hourly employees was provided \| facility		9
Components of net periodic pension cost for employees
Service cost		$ 0.8	$ 0.9	$ 0.9
Interest cost		1.9	1.8	1.3
Expected return on assets		(2.2)	(2.1)	(1.5)
Curtailment loss		0.0	0.1	0.0
Amortization of net gain		0.0	(0.1)	0.0
Settlement loss	$ 1.3	1.3	0.0	0.0
Net periodic pension cost		1.8	0.6	0.7
Other changes in plan assets and benefit obligations recognized in accumulated other comprehensive income
Net loss		0.2	9.0	(6.2)
Amortization of prior service cost		0.0	(0.2)	1.0
Amortization or settlement recognition of net gain (loss)		(1.3)	0.1	0.0
New prior service cost		0.1	0.1	0.0
Total recognized in other comprehensive loss		$ (1.0)	$ 9.0	$ (5.2)
Assumptions, calculated on a weighted-average basis, were used to determine pension costs
Discount rate (as a percent)		4.12%	4.01%	4.23%
Expected long term return on plan assets (as a percent)		7.05%	7.00%	6.92%
Change in Benefit Obligation:
Projected benefit obligation at beginning of year		$ 47.1	$ 36.4
Service cost		0.8	0.9	$ 0.9
Interest cost		1.9	1.8	1.3
Plan amendments		0.1	0.2
Actuarial (gain) loss		(3.3)	9.2
Curtailments		0.0	(0.1)
Settlements		(16.9)	0.0
Benefits paid		(0.8)	(0.7)
Expenses paid		(0.1)	(0.2)
Foreign currency exchange rate changes		(0.6)	(0.4)
Projected benefit obligation at end of year	28.2	28.2	47.1	36.4
Change in Plan Assets:
Fair value of plan assets at beginning of year		32.5	30.5
Actual (loss) return on assets		(1.3)	2.2
Employer contribution		1.1	1.0
Benefits paid		(0.8)	(0.7)
Settlements		(16.9)	0.0
Expenses paid		(0.1)	(0.2)
Foreign currency exchange rate changes		(0.6)	(0.3)
Fair value of plan assets at end of year	13.9	13.9	32.5	$ 30.5
Funded status	(14.3)	(14.3)	(14.6)
Decrease in benefit obligation	17.0
Decrease in plan assets	17.0
Amounts recognized in the Consolidated Balance Sheets:
Non-current portion of benefit liability	14.5	14.5	14.9
Non-current benefit asset	$ 0.2	$ 0.2	$ 0.3
Assumptions, calculated on a weighted-average basis, were used to determine benefit obligations
Discount rate (percentage)	4.44%	4.44%	5.00%
United States Retirement Plan
Assumptions, calculated on a weighted-average basis, were used to determine pension costs
Discount rate (as a percent)		3.94%	3.94%	4.25%
Assumptions, calculated on a weighted-average basis, were used to determine benefit obligations
Discount rate (percentage)	4.26%	4.26%	5.00%
Canadian Retirement Plan
Assumptions, calculated on a weighted-average basis, were used to determine pension costs
Discount rate (as a percent)		4.20%	5.00%	4.00%
Assumptions, calculated on a weighted-average basis, were used to determine benefit obligations
Discount rate (percentage)	4.30%	4.30%
Sealy
Retirement plans
Ownership interest (percentage)		100.00%
Number of facilities where employees are covered by defined benefit pension plan \| facility		1
Sealy \| United States Retirement Plan
Change in Benefit Obligation:
Projected benefit obligation at beginning of year		$ 43.7
Projected benefit obligation at end of year	$ 25.3	25.3	$ 43.7
Change in Plan Assets:
Fair value of plan assets at beginning of year		28.8
Fair value of plan assets at end of year	10.8	10.8	28.8
Sealy \| Canadian Retirement Plan
Change in Benefit Obligation:
Projected benefit obligation at beginning of year		3.4
Projected benefit obligation at end of year	2.9	2.9	3.4
Change in Plan Assets:
Fair value of plan assets at beginning of year		3.7
Fair value of plan assets at end of year	$ 3.1	$ 3.1	$ 3.7

Retirement Plans - Plan Assets and Estimated Future Benefit Payments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Retirement plans
Expected contribution in next fiscal year	$ 3.2
Estimated future benefit payments
Fiscal 2016	0.9
Fiscal 2017	0.9
Fiscal 2018	1.0
Fiscal 2019	1.0
Fiscal 2020	1.1
Fiscal 2021 ‑ Fiscal 2024	$ 6.5
Target and actual asset allocations
Total target plan assets	100.00%
Total actual plan assets	100.00%
Total assets	$ 13.9	$ 32.5	$ 30.5
United States Retirement Plan
Target and actual asset allocations
Expected long-term return assumption (percentage)	7.00%
Canadian Retirement Plan
Target and actual asset allocations
Expected long-term return assumption (percentage)	5.50%
Quoted Prices in Active Markets for Identical Assets (Level 1)
Target and actual asset allocations
Total assets	$ 0.0	0.0
Significant Other Observable Inputs (Level 2)
Target and actual asset allocations
Total assets	13.9	32.5
Significant Unobservable Inputs (Level 3)
Target and actual asset allocations
Total assets	$ 0.0	0.0
Equity securities
Target and actual asset allocations
Total target plan assets	60.00%
Total actual plan assets	74.83%
Debt securities
Target and actual asset allocations
Total target plan assets	40.00%
Total actual plan assets	21.03%
Other
Target and actual asset allocations
Total target plan assets	0.00%
Total actual plan assets	4.14%
U.S. equity
Target and actual asset allocations
Total assets	$ 7.7	19.6
U.S. equity \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Target and actual asset allocations
Total assets	0.0	0.0
U.S. equity \| Significant Other Observable Inputs (Level 2)
Target and actual asset allocations
Total assets	7.7	19.6
U.S. equity \| Significant Unobservable Inputs (Level 3)
Target and actual asset allocations
Total assets	0.0	0.0
International equity
Target and actual asset allocations
Total assets	2.7	5.2
International equity \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Target and actual asset allocations
Total assets	0.0	0.0
International equity \| Significant Other Observable Inputs (Level 2)
Target and actual asset allocations
Total assets	2.7	5.2
International equity \| Significant Unobservable Inputs (Level 3)
Target and actual asset allocations
Total assets	0.0	0.0
Total equity based funds
Target and actual asset allocations
Total assets	10.4	24.8
Total equity based funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Target and actual asset allocations
Total assets	0.0	0.0
Total equity based funds \| Significant Other Observable Inputs (Level 2)
Target and actual asset allocations
Total assets	10.4	24.8
Total equity based funds \| Significant Unobservable Inputs (Level 3)
Target and actual asset allocations
Total assets	0.0	0.0
Common/collective trust - fixed income
Target and actual asset allocations
Total assets	2.9	7.0
Common/collective trust - fixed income \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Target and actual asset allocations
Total assets	0.0	0.0
Common/collective trust - fixed income \| Significant Other Observable Inputs (Level 2)
Target and actual asset allocations
Total assets	2.9	7.0
Common/collective trust - fixed income \| Significant Unobservable Inputs (Level 3)
Target and actual asset allocations
Total assets	0.0	0.0
Money market funds
Target and actual asset allocations
Total assets	0.6	0.7
Money market funds \| Quoted Prices in Active Markets for Identical Assets (Level 1)
Target and actual asset allocations
Total assets	0.0	0.0
Money market funds \| Significant Other Observable Inputs (Level 2)
Target and actual asset allocations
Total assets	0.6	0.7
Money market funds \| Significant Unobservable Inputs (Level 3)
Target and actual asset allocations
Total assets	$ 0.0	$ 0.0

Retirement Plans - Multi-employer Benefit Plans (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($) facility	Dec. 31, 2014 USD ($)
Multi-Employer Benefit Plans
Domestic employees represented by various labor unions with separate collective bargaining agreements (percentage)	68.00%
Maximum
Multi-Employer Benefit Plans
Total contributions for most recent plan year available (percentage)	5.00%
Red Zone \| Maximum
Multi-Employer Benefit Plans
Multi-employer plans funded status (percentage) (less than for Red and Yellow Zone, greater than for Green Zone)	65.00%	65.00%
Yellow Zone
Multi-Employer Benefit Plans
Number of years in which a multi-employer plan is projected to be a credit balance	7 years
Yellow Zone \| Minimum
Multi-Employer Benefit Plans
Multi-employer plans funded status (percentage) (less than for Red and Yellow Zone, greater than for Green Zone)	80.00%	80.00%
Green Zone
Multi-Employer Benefit Plans
Number of years in which a multi-employer plan is projected not to be a credit balance	7 years
Green Zone \| Minimum
Multi-Employer Benefit Plans
Multi-employer plans funded status (percentage) (less than for Red and Yellow Zone, greater than for Green Zone)	80.00%	80.00%
Multi-employer Retirement Plan
Multi-Employer Benefit Plans
Number of domestic manufacturing facilities where employees are covered by union sponsored multiemployer plans \| facility	8
Expenses recognized for contributions	$ 5.0	$ 4.7
Multi-employer Health and Welfare Plan \| Multi-employer Retirement Plan
Multi-Employer Benefit Plans
Number of domestic manufacturing facilities where employees are covered by union sponsored multiemployer plans \| facility	3
Expenses recognized for contributions	$ 2.4	$ 2.2
United Furniture Workers Pension Fund A
Multi-Employer Benefit Plans
Surcharge (percentage)	10.00%	10.00%
United Furniture Workers Pension Fund A \| Multi-employer Retirement Plan
Multi-Employer Benefit Plans
Expenses recognized for contributions	$ 1.1	$ 0.9
Pension Plan of the National Retirement Fund
Multi-Employer Benefit Plans
Surcharge (percentage)	10.00%	10.00%
Pension Plan of the National Retirement Fund \| Multi-employer Retirement Plan
Multi-Employer Benefit Plans
Expenses recognized for contributions	$ 1.2	$ 1.1
Central States, Southeast & Southwest Areas Pension Plan
Multi-Employer Benefit Plans
Surcharge (percentage)	10.00%	10.00%
Central States, Southeast & Southwest Areas Pension Plan \| Multi-employer Retirement Plan
Multi-Employer Benefit Plans
Expenses recognized for contributions	$ 0.5	$ 0.4

Stockholders' Equity (Details) - USD ($)	12 Months Ended
Stockholders' Equity (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock shares authorized (in shares)	300,000,000	300,000,000
Common stock par or stated value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock authorized shares (in shares)	10,000
Preferred stock par or stated value (in dollars per share)	$ 0.01
Common stock, voting rights per share held	1
Treasury stock sold (in shares)	69,686
Proceeds from issuance of treasury shares	$ 5,000,000
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(55,700,000)
Other comprehensive income:
Foreign currency translation adjustments	(61,400,000)	$ (38,400,000)	$ (10,600,000)
Tax benefit (expense)	(125,400,000)	(64,900,000)	(49,100,000)
Total other comprehensive income (loss)	(54,400,000)	(42,000,000)	(6,100,000)
Balance at end of period	(110,100,000)	(55,700,000)
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(54,000,000)	(15,600,000)	(5,000,000)
Other comprehensive income:
Foreign currency translation adjustments	(61,400,000)	(38,400,000)	(13,300,000)
Tax benefit (expense)	0	0	2,700,000	$ (2,700,000)
Balance at end of period	(115,400,000)	(54,000,000)	(15,600,000)	(5,000,000)
Interest Rate Swap Agreement
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(700,000)	(1,400,000)	(2,700,000)
Other comprehensive income:
Net change from period revaluations:	3,100,000	3,000,000	5,200,000
Tax benefit (expense)	(1,200,000)	(1,200,000)	(1,500,000)
Total other comprehensive income (loss) before reclassifications, net of tax	1,900,000	1,800,000	3,700,000
Total amount reclassified from accumulated other comprehensive income (loss), net of tax	(1,200,000)	(1,100,000)	(2,400,000)
Total other comprehensive income (loss)	700,000	700,000	1,300,000
Balance at end of period	0	(700,000)	(1,400,000)	(2,700,000)
Interest Rate Swap Agreement \| Reclassification out of Accumulated Other Comprehensive Income
Other comprehensive income:
Tax benefit (expense)	700,000	800,000	800,000
Net amount reclassified to earnings	(1,900,000)	(1,900,000)	(3,200,000)
Pension Benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(2,400,000)	3,200,000	0
Other comprehensive income:
Net change from period revaluations:	200,000	(9,000,000)	5,200,000
Tax benefit (expense)	0	3,400,000	(2,000,000)
Total other comprehensive income (loss) before reclassifications, net of tax	200,000	(5,600,000)	3,200,000
Total amount reclassified from accumulated other comprehensive income (loss), net of tax	800,000	0	0
Total other comprehensive income (loss)	1,000,000	(5,600,000)	3,200,000
Balance at end of period	(1,400,000)	(2,400,000)	3,200,000	0
Pension Benefits \| Reclassification out of Accumulated Other Comprehensive Income
Other comprehensive income:
Tax benefit (expense)	(500,000)	0	0
Net amount reclassified to earnings	1,300,000	0	0
Foreign Exchange Forward Contracts
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	1,300,000	0	0
Other comprehensive income:
Net change from period revaluations:	14,600,000	3,400,000	0
Tax benefit (expense)	(3,800,000)	(900,000)	0
Total other comprehensive income (loss) before reclassifications, net of tax	10,800,000	2,500,000	0
Total amount reclassified from accumulated other comprehensive income (loss), net of tax	(5,500,000)	(1,200,000)	0
Total other comprehensive income (loss)	5,300,000	1,300,000	0
Balance at end of period	6,600,000	1,300,000	0	$ 0
Foreign Exchange Forward Contracts \| Reclassification out of Accumulated Other Comprehensive Income
Other comprehensive income:
Tax benefit (expense)	1,900,000	400,000	0
Net amount reclassified to earnings	$ (7,400,000)	$ (1,600,000)	$ 0

Other Items - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other Items [Abstract]
Wages and benefits	$ 72.4	$ 60.0
Advertising	48.4	41.6
Sales returns	28.5	32.3	$ 28.7
Rebates	11.5	22.8
Warranty	14.9	16.1
Other	78.3	60.5
Total accrued expenses and other current liabilities	$ 254.0	$ 233.3

Stock-based Compensation (Details)		3 Months Ended	9 Months Ended	12 Months Ended
Stock-based Compensation (Details)	Sep. 04, 2015 USD ($) shares	Dec. 31, 2015 USD ($) $ / shares shares	Sep. 30, 2015 $ / shares shares	Dec. 31, 2015 USD ($) plan $ / shares shares	Dec. 31, 2014 USD ($) $ / shares shares	Dec. 31, 2013 USD ($) $ / shares shares	May. 22, 2013 shares	Dec. 31, 2003 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of compensation plans \| plan				2
Total stock-based compensation expense \| $				$ 22,500,000	$ 13,400,000	$ 16,900,000
Fair value assumptions and methodology [Abstract]
Expected volatility range of stock, minimum (in hundredths)				34.00%	56.70%	63.00%
Expected volatility range of stock, maximum (in hundredths)				36.20%	66.50%	72.80%
Expected life of option, range in years, minimum				3 years	2 years	2 years
Expected life of option, range in years, maximum				5 years	4 years	3 years
Risk-free interest rate range, minimum (in hundredths)				0.90%	0.40%	0.30%
Risk-free interest rate range, maximum (in hundredths)				1.50%	1.40%	0.60%
Expected dividend yield on stock, minimum (in hundredths)				0.00%	0.60%	0.60%
Expected dividend yield on stock, maximum (in hundredths)				0.00%	0.70%	0.90%
Weighted Average Exercise Price
Total intrinsic value of options exercised \| $				$ 71,800,000	$ 6,700,000	$ 17,100,000
Total unrecognized stock-based compensation expense \| $		$ 28,000,000		$ 28,000,000
Weighted Average Remaining Vesting Period (in years)				2 years 5 months 9 days
Cash received from exercise of stock options \| $				$ 20,400,000	$ 4,300,000	$ 8,700,000
Treasury Stock
Shares
Released (in shares)				(1,300,000)	(200,000)	(600,000)
Performance-based Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense \| $				$ 13,700,000	$ 3,500,000	$ 3,000,000
Revaluation benefit from PRSU Granted \| $				$ 0	$ 3,000,000	$ 0
Shares
Beginning balance (in shares)			300,000	300,000	300,000
Granted (in shares)				1,700,000	300,000
Vested (in shares)				0	0
Forfeited/Terminated (in shares)				(100,000)	(300,000)
Ending balance (in shares)		1,900,000		1,900,000	300,000	300,000
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) \| $ / shares			$ 53.45	$ 53.45	$ 39.04
Granted (in dollars per share) \| $ / shares				70.43	51.87
Vested (in dollars per share) \| $ / shares				0.00	37.05
Forfeited/Terminated (in dollars per share) \| $ / shares				56.74	39.38
Ending balance (in dollars per share) \| $ / shares		$ 68.17		$ 68.17	$ 53.45	$ 39.04
Outstanding intrinsic value \| $		$ 13,900,000		$ 13,900,000
Weighted Average Exercise Price
Total unrecognized stock-based compensation expense \| $		10,900,000		$ 10,900,000
Weighted Average Remaining Vesting Period (in years)				2 years 3 months 15 days
Performance-based Restricted Stock Units \| 2018 if target is not met
Weighted Average Grant Date Fair Value
Percentage of target shares to vest				33.33%
Number of target shares to vest				460,000
Performance-based Restricted Stock Units \| Treasury Stock
Weighted Average Grant Date Fair Value
Grant date intrinsic value \| $				$ 0	$ 1,400,000	$ 14,900,000
Performance period (in years)				1 year
Percentage of stock units released				100.00%		282.00%
Maximum payout (percent)						300.00%
Performance-based Restricted Stock Units \| Chief Executive Officer \| 2018 if target is not met
Weighted Average Grant Date Fair Value
Percentage of target shares to vest	33.33%
Performance-based Restricted Stock Units \| December 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target shares granted			260,000
Weighted Average Grant Date Fair Value
Maximum Number of Shares to be Awarded			780,000
Performance-based Restricted Stock Units \| December 31, 2017 if target is met
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target shares granted			1,390,000
Weighted Average Grant Date Fair Value
Maximum Number of Shares to be Awarded			1,390,000
Performance-based Restricted Stock Units \| Three annual installments beginning on September 4, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target shares granted			70,000
Weighted Average Grant Date Fair Value
Maximum Number of Shares to be Awarded			70,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense \| $				$ 6,600,000	7,000,000	$ 8,300,000
Weighted Average Exercise Price
Total unrecognized stock-based compensation expense \| $		$ 9,200,000		$ 9,200,000
Weighted Average Remaining Vesting Period (in years)				2 years 5 months 27 days
Restricted Stock Units and Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense \| $				$ 2,200,000	$ 2,900,000	$ 5,600,000
Shares
Beginning balance (in shares)			100,000	100,000	200,000
Granted (in shares)				100,000	0
Vested (in shares)				(100,000)	(100,000)
Forfeited/Terminated (in shares)				0	0
Ending balance (in shares)		100,000		100,000	100,000	200,000
Weighted Average Grant Date Fair Value
Beginning balance (in dollars per share) \| $ / shares			$ 50.41	$ 50.41	$ 47.00
Granted (in dollars per share) \| $ / shares				70.44	54.56
Vested (in dollars per share) \| $ / shares				58.73	44.47
Forfeited/Terminated (in dollars per share) \| $ / shares				49.63	46.77
Ending balance (in dollars per share) \| $ / shares		$ 66.41		$ 66.41	$ 50.41	$ 47.00
Weighted Average Exercise Price
Aggregate intrinsic value of units outstanding \| $		$ 11,900,000		$ 11,900,000
Aggregate intrinsic value of RSUs and DSUs vested during the period \| $				4,000,000
Total unrecognized stock-based compensation expense \| $		$ 7,900,000		$ 7,900,000
Weighted Average Remaining Vesting Period (in years)				2 years 7 months 2 days
Unvested Stock Options
Shares
Beginning balance (in shares)			500,000	500,000	600,000
Granted (in shares)				800,000	200,000
Vested (in shares)				(400,000)	(300,000)
Forfeited (in shares)				(100,000)	0
Ending balance (in shares)		800,000		800,000	500,000	600,000
Weighted Average Grant Date Fair Value
Beginning of period weighted average grant date fair value (dollars per share) \| $ / shares			$ 46.23	$ 46.23	$ 42.16
Granted weighted average grant date fair value (dollars per share) \| $ / shares				63.55	52.08
Vested weighted average grant date fair value (dollars per share) \| $ / shares				44.25	42.46
Forfeited weighted average grant date fair value (dollars per share) \| $ / shares				57.12	50.53
Ending of period weighted average grant date fair value (dollars per share) \| $ / shares		$ 62.34		$ 62.34	$ 46.23	$ 42.16
Long Term Incentive Plan 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of common stock shares to be issued (in shares)							5,100,000
Amended And Restated 2003 Equity Incentive Plan \| Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of common stock shares to be issued (in shares)								11,500,000
Aspirational Plan \| Performance-based Restricted Stock Units \| Chief Executive Officer
Shares
Granted (in shares)	620,000
Weighted Average Grant Date Fair Value
Minimum Adjusted EBITDA (more than) \| $	$ 650,000,000
Unrecognized compensation expense \| $	$ 44,500,000	$ 56,600,000		$ 56,600,000
Aspirational Plan \| Performance-based Restricted Stock Units \| Executive Officer
Shares
Granted (in shares)		770,000
Stock Option Plans 2002, 2003 and 2013
Shares
Beginning balance (in shares)			2,800,000	2,800,000	2,800,000
Granted (in shares)				800,000	200,000
Released (in shares)				(1,400,000)	(200,000)
Forfeited (in shares)				(100,000)	0
Ending balance (in shares)		2,100,000		2,100,000	2,800,000	2,800,000
Options exercisable (in shares)		1,300,000		1,300,000
Weighted Average Exercise Price
Beginning balance weighted average exercise price (dollars per share) \| $ / shares			$ 24.18	$ 24.18	$ 21.73
Granted weighted average exercise price (dollars per share) \| $ / shares				63.55	52.08
Released weighted average exercise price (in dollars per share) \| $ / shares				14.70	20.82
Forfeited weighted average exercise price (dollars per share) \| $ / shares				57.12	50.53
Ending balance weighted average exercise price (dollars per share) \| $ / shares		$ 42.75		42.75	$ 24.18	$ 21.73
Options exercisable weighted average exercise price (dollars per share) \| $ / shares		$ 31.11		$ 31.11
Ending balance weighted average remaining contractual term (in years)				6 years 5 months 19 days
Options exercisable weighted average remaining contractual term (in years)				4 years 10 months 6 days
Ending balance aggregate intrinsic value \| $		$ 53,400,000		$ 53,400,000
Options exercisable aggregate intrinsic value \| $		$ 52,000,000		$ 52,000,000

Commitments and Contingencies - Operating Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]
Operating lease expenses	$ 41.4	$ 32.3	$ 25.5
Operating leases future minimum lease payments [Abstract]
2016	27.3
2017	23.3
2018	20.8
2019	18.4
2020	16.5
Thereafter	40.3
Total	$ 146.6

Commitments and Contingencies - Litigation and Environmental Contingencies (Details) $ / shares in Units, shares in Millions, $ in Millions	Jun. 27, 2013 shares	Mar. 13, 2013 USD ($)	Jun. 25, 2012 officer	Jun. 20, 2012 officer	Mar. 13, 2015 $ / shares
Loss Contingencies [Line Items]
Loss contingency, number of defendants \| officer			2	2
Class Action Lawsuits Relating To Merger
Loss Contingencies [Line Items]
Number of shares held by shareholders who sent notices to exercise rights as per merger agreement \| shares	3.1
Sealy \| Class Action Lawsuits Relating To Merger
Loss Contingencies [Line Items]
Cash price per share (in dollars per share) \| $ / shares					$ 2.20
Net consideration transferred \| $		$ 0.6

Commitments and Contingencies - German Regulatory Investigation (Details) € in Millions, $ in Millions	1 Months Ended		12 Months Ended
	Oct. 31, 2015 USD ($)	Oct. 31, 2015 EUR (€)	Dec. 31, 2015 USD ($)	Dec. 31, 2015 EUR (€)
Loss Contingencies [Line Items]
Litigation Settlement, Amount	$ 17.4	€ 15.5
Other Expense
Loss Contingencies [Line Items]
Litigation Settlement, Expense			$ 17.4	€ 15.5

Income Taxes - Reconciliation of Statutory Tax Rate to Effective Tax Rate (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation in dollars [Abstract]
Statutory U.S. federal income tax	$ 70.0	$ 61.2	$ 44.8
State income taxes, net of federal benefit	1.1	1.1	1.7
Foreign repatriation, net of foreign tax credits	0.0	13.5	(16.0)
Foreign tax differential	(10.0)	(12.6)	(12.3)
Change in valuation allowances	2.5	(17.7)	20.4
Uncertain tax positions	59.7	10.9	4.7
Subpart F income	1.9	1.9	1.5
Manufacturing deduction	(1.6)	(3.7)	0.1
Goodwill on disposal of business	0.0	7.5	0.0
Permanent and other	1.8	2.8	4.2
Effective income tax provision	$ 125.4	$ 64.9	$ 49.1
Reconciliation in percentages [Abstract]
Statutory U.S. federal income tax (percentage)	35.00%	35.00%	35.00%
State income taxes, net of federal benefit (percentage)	0.60%	0.60%	1.30%
Foreign repatriation, net of foreign tax credits (percentage)	0.00%	7.70%	(12.60%)
Foreign tax differential (percentage)	(5.00%)	(7.20%)	(9.60%)
Change in valuation allowance (percentage)	1.20%	(10.00%)	15.90%
Uncertain tax positions (percentage)	29.80%	6.10%	3.70%
Subpart F income (percentage)	1.00%	1.10%	1.20%
Manufacturing deduction (percentage)	(0.80%)	(2.10%)	(0.00%)
Goodwill on disposal of business (percentage)	0.00%	4.20%	0.00%
Permanent and other (percentage)	0.90%	1.70%	3.50%
Effective income tax provision (percentage)	62.70%	37.10%	38.40%

Income Taxes - Additional Information (Details) DKK in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2015 DKK	Dec. 31, 2014 DKK	Dec. 31, 2013 USD ($)
Income Tax Examination [Line Items]
Tax recognized on repatriation of earnings in connection with Sealy Acquisition			$ 48.1
Tax benefit recorded on repatriation of earnings		$ 63.9
Uncertain tax liability	$ 69.8	47.6				$ 26.1
Valuation allowance	$ 24.2	21.7
Danish Tax Authority
Income Tax Examination [Line Items]
Royalty rate assessed on Danish earnings (percentage)	20.00%
Cumulative Assessment Amount Including Interest And Penalties	$ 199.6	215.1		DKK 1,363.1	DKK 1,317.2
Increase in tax liability due to the accrual of additional interest \| DKK				DKK 45.9
VAT Taxes Withheld by Tax Authority	26.0	15.0
Increase in uncertain tax liability	60.7
Uncertain tax liability	79.6	$ 18.9
Valuation Allowance, Operating Loss Carryforwards \| US State
Income Tax Examination [Line Items]
Valuation allowance	87.0
Valuation Allowance, Tax Credit Carryforward \| US State
Income Tax Examination [Line Items]
Valuation allowance	3.6
Valuation Allowance, Tax Credit Carryforward \| US Federal
Income Tax Examination [Line Items]
Valuation allowance	$ 7.8

Income Taxes - Pre-tax Income Attributable to Operating Segments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income before income taxes:
United States	$ 120.2	$ 46.9	$ (4.5)
Rest of the world	79.9	128.0	132.5
Income before income taxes	$ 200.1	$ 174.9	$ 128.0

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Unrecognized tax benefits [Roll Forward]
Balance as of beginning of period	$ 47.6	$ 26.1
Additions based on tax positions related to current period	0.9	24.3
Additions for tax positions of prior years	25.7	0.5
Expiration of statutes of limitations	(2.1)	(3.2)
Settlements of uncertain tax positions with tax authorities	(2.3)	(0.1)
Balance as of end of period	69.8	47.6	$ 26.1
Unrecognized tax benefits that would impact effective tax rate	67.7	44.6	22.2
Interest and penalties related to unrecognized tax benefits recorded in income tax expense	33.5	1.9	1.8
Accrued interest and penalties	$ 43.8	$ 10.3	$ 11.0

Income Taxes - Operating Loss and Tax Credit Carryforwards (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Charitable contribution carryover (CCCs)	$ 23.7	$ 8.4
US State
Operating Loss Carryforwards [Line Items]
Net operating losses	128.8	145.3
Tax credit carryforwards	5.5	1.6
US Federal
Operating Loss Carryforwards [Line Items]
Tax credit carryforwards	7.8	7.8
Foreign
Operating Loss Carryforwards [Line Items]
Net operating losses	$ 38.0	$ 44.2

Income Taxes - Tax Provision Summary (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current provision
Federal	$ 107.1	$ 50.7	$ 48.6
State	7.2	4.5	7.3
Foreign	32.4	36.9	42.3
Total current	146.7	92.1	98.2
Deferred provision
Federal	(12.3)	(25.2)	(47.0)
State	(3.7)	(1.2)	0.4
Foreign	(5.3)	(0.8)	(2.5)
Total deferred	(21.3)	(27.2)	(49.1)
Effective income tax provision	$ 125.4	$ 64.9	$ 49.1

Income Taxes - Deferred Tax Assets and Liabilities Recognized in the Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Stock-based compensation	$ 16.0	$ 12.4
Accrued expenses and other	57.6	57.9
Net operating losses, foreign tax credits and charitable contribution carryforward	33.1	30.6
Inventories	5.1	4.5
Transaction costs	22.0	14.5
Property, plant and equipment	2.9	4.0
Total deferred tax assets	136.7	123.9
Valuation allowances	(24.2)	(21.7)
Total net deferred tax assets	112.5	102.2
Deferred tax liabilities:
Intangible assets	(247.8)	(258.1)
Property, plant and equipment	(42.0)	(45.7)
Accrued expenses and other	(5.9)	(4.5)
Total deferred tax liabilities	(295.7)	(308.3)
Net deferred tax liabilities	$ (183.2)	$ (206.1)

Major Customers (Details) - customer	12 Months Ended
Major Customers (Details) - customer	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Concentration Risk [Line Items]
Number of customers being disclosed	5	5	5
Mattress Firm Holding Corp. [Member]
Concentration Risk [Line Items]
Number of customers being disclosed	1	1	1
Customer Concentration Risk \| Sales Revenue, Goods, Net
Concentration Risk [Line Items]
Concentration risk, percentage\	39.40%	34.90%	27.50%
Customer Concentration Risk \| Sales Revenue, Goods, Net \| Mattress Firm Holding Corp. [Member]
Concentration Risk [Line Items]
Concentration risk, percentage\	10.00%	10.00%	10.00%
Credit Concentration Risk \| Accounts Receivable
Concentration Risk [Line Items]
Concentration risk, percentage\	34.50%	32.00%
Pro Forma \| Customer Concentration Risk \| Sales Revenue, Goods, Net \| Mattress Firm Holding Corp. [Member]
Concentration Risk [Line Items]
Concentration risk, percentage\	25.00%

Redeemable Non-controlling Interest (Details)	12 Months Ended
Redeemable Non-controlling Interest (Details)	Dec. 31, 2015
Comfort Revolution
Redeemable Noncontrolling Interest
Percentage of noncontrolling interest from the acquisition	55.00%
Redemption value of put and call arrangement as a percentage of EBITDA	7.5
Period of EBITDA considered for redemption value	12 months
Comfort Revolution \| Variable Interest Entity, Primary Beneficiary
Redeemable Noncontrolling Interest
Equity method investment, ownership percentage	45.00%

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Numerator:
Net income attributable to Tempur Sealy International, Inc.	$ (11.3)	$ 40.2	$ 21.2	$ 23.4	$ 46.6	$ 37.1	$ (2.2)	$ 27.4	$ 73.5	$ 108.9	$ 78.6
Denominator:
Denominator for basic earnings per common share—weighted average shares									61.7	60.8	60.3
Effect of dilutive securities:
Employee stock based compensation (in shares)									0.9	1.3	1.3
Denominator for diluted earnings per common share—adjusted weighted average shares									62.6	62.1	61.6
Basic earnings per common share (in dollars per share)	$ (0.18)	$ 0.65	$ 0.35	$ 0.38	$ 0.77	$ 0.61	$ (0.04)	$ 0.45	$ 1.19	$ 1.79	$ 1.30
Diluted earnings per common share (in dollars per share)	$ (0.18)	$ 0.64	$ 0.34	$ 0.38	$ 0.75	$ 0.60	$ (0.04)	$ 0.44	$ 1.17	$ 1.75	$ 1.28
Shares excluded from diluted earnings per common share computation as anti-dilutive (in shares)									0.2	0.3	0.3

Business Segment Information (Details) $ in Millions	3 Months Ended								12 Months Ended
Business Segment Information (Details) $ in Millions	Dec. 31, 2015 USD ($)	Sep. 30, 2015 USD ($)	Jun. 30, 2015 USD ($)	Mar. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Sep. 30, 2014 USD ($)	Jun. 30, 2014 USD ($)	Mar. 31, 2014 USD ($)	Dec. 31, 2015 USD ($) segment	Dec. 31, 2014 USD ($)	Dec. 31, 2013 USD ($)
Segment Reporting Information [Line Items]
Number of business segments \| segment									2
Segment information [Abstract]
Total assets	$ 2,655.5				$ 2,582.7				$ 2,655.5	$ 2,582.7
Total property, plant and equipment, net	361.7				355.6				361.7	355.6
Net sales	767.3	$ 880.0	$ 764.4	$ 739.5	745.5	$ 827.4	$ 715.0	$ 701.9	3,151.2	2,989.8	$ 2,464.3
Inter-segment sales									0.0	0.0	0.0
Gross profit	313.1	359.6	297.5	278.7	294.1	318.5	268.3	269.5	1,248.9	1,150.4	1,014.9
Inter-segment royalty expense (income)									0.0	0.0	0.0
Operating income (loss)	91.8	$ 110.9	$ 52.0	$ 54.4	76.5	$ 87.1	$ 50.3	$ 62.4	309.1	276.3	243.8
Income (loss) before income taxes									200.1	174.9	128.0
Depreciation and amortization (including stock-based compensation amortization)									93.9	89.7	91.5
Capital expenditures									65.9	47.5	40.0
Bedding sales
Segment information [Abstract]
Net sales									2,887.2	2,726.5	2,198.4
Other sales
Segment information [Abstract]
Net sales									264.0	263.3	265.9
United States
Segment information [Abstract]
Total property, plant and equipment, net	300.1				287.3				300.1	287.3
Net sales									2,374.7	2,188.8	1,736.8
Canada
Segment information [Abstract]
Total property, plant and equipment, net	6.8				8.0				6.8	8.0
Net sales									202.5	216.1	190.2
Other International
Segment information [Abstract]
Total property, plant and equipment, net	54.8				60.3				54.8	60.3
Net sales									574.0	584.9	537.3
Total International
Segment information [Abstract]
Total property, plant and equipment, net	61.6				68.3				61.6	68.3
Net sales									776.5	801.0	727.5
Operating Segments
Segment information [Abstract]
Total property, plant and equipment, net	361.7				355.6				361.7	355.6
Operating Segments \| Tempur North America
Segment information [Abstract]
Total assets	2,533.1				2,465.2				2,533.1	2,465.2
Total property, plant and equipment, net	239.2				240.5				239.2	240.5
Net sales									2,577.2	2,404.9	1,927.0
Inter-segment sales									5.9	5.1	0.2
Gross profit									954.6	834.8	710.2
Inter-segment royalty expense (income)									7.1	6.1	5.8
Operating income (loss)									335.6	255.0	229.0
Income (loss) before income taxes									324.4	228.0	548.3
Depreciation and amortization (including stock-based compensation amortization)									43.3	47.9	49.9
Capital expenditures									28.9	17.8	19.5
Operating Segments \| Tempur North America \| Bedding sales
Segment information [Abstract]
Net sales									2,428.9	2,261.9	1,779.3
Operating Segments \| Tempur North America \| Other sales
Segment information [Abstract]
Net sales									148.3	143.0	147.7
Operating Segments \| Tempur International
Segment information [Abstract]
Total assets	477.1				474.3				477.1	474.3
Total property, plant and equipment, net	54.8				60.3				54.8	60.3
Net sales									574.0	584.9	537.3
Inter-segment sales									0.7	0.3	0.6
Gross profit									294.3	315.6	304.7
Inter-segment royalty expense (income)									(7.1)	(6.1)	(5.8)
Operating income (loss)									98.9	118.8	124.7
Income (loss) before income taxes									73.2	112.2	(204.5)
Depreciation and amortization (including stock-based compensation amortization)									16.0	16.3	14.1
Capital expenditures									14.8	15.6	11.2
Operating Segments \| Tempur International \| Bedding sales
Segment information [Abstract]
Net sales									458.3	464.6	419.1
Operating Segments \| Tempur International \| Other sales
Segment information [Abstract]
Net sales									115.7	120.3	118.2
Corporate
Segment information [Abstract]
Total assets	775.0				820.9				775.0	820.9
Total property, plant and equipment, net	67.7				54.8				67.7	54.8
Net sales									0.0	0.0	0.0
Inter-segment sales									0.0	0.0	0.0
Gross profit									0.0	0.0	0.0
Inter-segment royalty expense (income)									0.0	0.0	0.0
Operating income (loss)									(125.4)	(97.5)	(109.9)
Income (loss) before income taxes									(197.5)	(165.3)	(215.8)
Depreciation and amortization (including stock-based compensation amortization)									34.6	25.5	27.5
Capital expenditures									22.2	14.1	9.3
Corporate \| Bedding sales
Segment information [Abstract]
Net sales									0.0	0.0	0.0
Corporate \| Other sales
Segment information [Abstract]
Net sales									0.0	0.0	0.0
Inter-segment eliminations
Segment information [Abstract]
Total assets	$ (1,129.7)				$ (1,177.7)				(1,129.7)	(1,177.7)
Net sales									0.0	0.0	0.0
Inter-segment sales									(6.6)	(5.4)	(0.8)
Gross profit									0.0	0.0	0.0
Inter-segment royalty expense (income)									0.0	0.0	0.0
Operating income (loss)									0.0	0.0	0.0
Income (loss) before income taxes									0.0	0.0	0.0
Depreciation and amortization (including stock-based compensation amortization)									0.0	0.0	0.0
Capital expenditures									0.0	0.0	0.0
Inter-segment eliminations \| Bedding sales
Segment information [Abstract]
Net sales									0.0	0.0	0.0
Inter-segment eliminations \| Other sales
Segment information [Abstract]
Net sales									$ 0.0	$ 0.0	$ 0.0

Quarterly Financial Data (unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Examination [Line Items]
Net sales	$ 767.3	$ 880.0	$ 764.4	$ 739.5	$ 745.5	$ 827.4	$ 715.0	$ 701.9	$ 3,151.2	$ 2,989.8	$ 2,464.3
Gross profit	313.1	359.6	297.5	278.7	294.1	318.5	268.3	269.5	1,248.9	1,150.4	1,014.9
Operating income	91.8	110.9	52.0	54.4	76.5	87.1	50.3	62.4	309.1	276.3	243.8
Net income (loss)	$ (11.3)	$ 40.2	$ 21.2	$ 23.4	$ 46.6	$ 37.1	$ (2.2)	$ 27.4	$ 73.5	$ 108.9	$ 78.6
Basic earnings (loss) per common share (in dollars per share)	$ (0.18)	$ 0.65	$ 0.35	$ 0.38	$ 0.77	$ 0.61	$ (0.04)	$ 0.45	$ 1.19	$ 1.79	$ 1.30
Diluted earnings (loss) per common share (in dollars per share)	$ (0.18)	$ 0.64	$ 0.34	$ 0.38	$ 0.75	$ 0.60	$ (0.04)	$ 0.44	$ 1.17	$ 1.75	$ 1.28
Other nonrecurring income		$ 9.5			$ 15.6
Danish Tax Authority
Income Tax Examination [Line Items]
Increase in uncertain tax liability									$ 60.7

Guarantor/Non-Guarantor Financial Information - Schedule of Supplemental Condensed Consolidating Statements of Operations (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Sep. 24, 2015	Dec. 19, 2012
Supplemental condensed consolidating statements of operations
Net sales	$ 767,300,000	$ 880,000,000	$ 764,400,000	$ 739,500,000	$ 745,500,000	$ 827,400,000	$ 715,000,000	$ 701,900,000	$ 3,151,200,000	$ 2,989,800,000	$ 2,464,300,000
Cost of sales									1,902,300,000	1,839,400,000	1,449,400,000
Gross profit	313,100,000	359,600,000	297,500,000	278,700,000	294,100,000	318,500,000	268,300,000	269,500,000	1,248,900,000	1,150,400,000	1,014,900,000
Selling and marketing expenses									648,000,000	619,900,000	522,900,000
General, administrative and other expenses									322,000,000	280,600,000	266,300,000
Equity income in earnings of unconsolidated affiliates									(11,900,000)	(8,300,000)	(4,400,000)
Royalty income, net of royalty expense									(18,300,000)	(18,100,000)	(13,700,000)
Operating (loss) income	91,800,000	110,900,000	52,000,000	54,400,000	76,500,000	87,100,000	50,300,000	62,400,000	309,100,000	276,300,000	243,800,000
Other expense, net:
Third party interest expense, net									96,100,000	91,900,000	110,800,000
Intercompany interest expense (income), net									0	0	0
Interest expense, net									96,100,000	91,900,000	110,800,000
Loss on disposal, net									0	23,200,000	0
Other (income) expense, net									12,900,000	(13,700,000)	5,000,000
Total other expense									109,000,000	101,400,000	115,800,000
Income from equity investees									0	0	0
Income before income taxes									200,100,000	174,900,000	128,000,000
Income tax benefit (provision)									(125,400,000)	(64,900,000)	(49,100,000)
Net income before non-controlling interest									74,700,000	110,000,000	78,900,000
Less: net income attributable to non-controlling interest									1,200,000	1,100,000	300,000
Net income attributable to Tempur Sealy International, Inc.	(11,300,000)	$ 40,200,000	$ 21,200,000	$ 23,400,000	46,600,000	$ 37,100,000	$ (2,200,000)	$ 27,400,000	73,500,000	108,900,000	78,600,000
Comprehensive income									19,100,000	66,900,000	72,500,000
Tempur Sealy International, Inc. (Ultimate Parent)
Supplemental condensed consolidating statements of operations
Net sales									0	0	0
Cost of sales									0	0	0
Gross profit									0	0	0
Selling and marketing expenses									4,100,000	2,400,000	2,400,000
General, administrative and other expenses									20,800,000	13,400,000	17,100,000
Equity income in earnings of unconsolidated affiliates									0	0	0
Royalty income, net of royalty expense									0	0	0
Operating (loss) income									(24,900,000)	(15,800,000)	(19,500,000)
Other expense, net:
Third party interest expense, net									27,200,000	27,000,000	27,500,000
Intercompany interest expense (income), net									32,900,000	32,700,000	32,700,000
Interest expense, net									60,100,000	59,700,000	60,200,000
Loss on disposal, net										0
Other (income) expense, net									0	0	0
Total other expense									60,100,000	59,700,000	60,200,000
Income from equity investees									132,900,000	159,200,000	133,400,000
Income before income taxes									47,900,000	83,700,000	53,700,000
Income tax benefit (provision)									26,800,000	26,300,000	25,200,000
Net income before non-controlling interest									74,700,000	110,000,000	78,900,000
Less: net income attributable to non-controlling interest									1,200,000	1,100,000	300,000
Net income attributable to Tempur Sealy International, Inc.									73,500,000	108,900,000	78,600,000
Comprehensive income									19,100,000	66,900,000	72,500,000
Combined Guarantor Subsidiaries
Supplemental condensed consolidating statements of operations
Net sales									2,422,900,000	2,229,500,000	1,758,200,000
Cost of sales									1,532,600,000	1,465,300,000	1,110,500,000
Gross profit									890,300,000	764,200,000	647,700,000
Selling and marketing expenses									460,100,000	431,200,000	358,100,000
General, administrative and other expenses									232,600,000	200,500,000	181,600,000
Equity income in earnings of unconsolidated affiliates									0	0	0
Royalty income, net of royalty expense									(18,300,000)	(18,100,000)	(13,700,000)
Operating (loss) income									215,900,000	150,600,000	121,700,000
Other expense, net:
Third party interest expense, net									66,200,000	62,400,000	81,500,000
Intercompany interest expense (income), net									(35,500,000)	(34,600,000)	(34,100,000)
Interest expense, net									30,700,000	27,800,000	47,400,000
Loss on disposal, net										23,200,000
Other (income) expense, net									(8,100,000)	(17,200,000)	(900,000)
Total other expense									22,600,000	33,800,000	46,500,000
Income from equity investees									64,700,000	98,700,000	93,600,000
Income before income taxes									258,000,000	215,500,000	168,800,000
Income tax benefit (provision)									(125,100,000)	(56,300,000)	(35,400,000)
Net income before non-controlling interest									132,900,000	159,200,000	133,400,000
Less: net income attributable to non-controlling interest									1,200,000	1,100,000	300,000
Net income attributable to Tempur Sealy International, Inc.									131,700,000	158,100,000	133,100,000
Comprehensive income									130,900,000	163,300,000	133,800,000
Combined Non-Guarantor Subsidiaries
Supplemental condensed consolidating statements of operations
Net sales									778,900,000	802,900,000	728,100,000
Cost of sales									420,300,000	416,700,000	360,900,000
Gross profit									358,600,000	386,200,000	367,200,000
Selling and marketing expenses									183,800,000	186,300,000	162,400,000
General, administrative and other expenses									68,600,000	66,700,000	67,600,000
Equity income in earnings of unconsolidated affiliates									(11,900,000)	(8,300,000)	(4,400,000)
Royalty income, net of royalty expense									0	0	0
Operating (loss) income									118,100,000	141,500,000	141,600,000
Other expense, net:
Third party interest expense, net									2,700,000	2,500,000	1,800,000
Intercompany interest expense (income), net									2,600,000	1,900,000	1,400,000
Interest expense, net									5,300,000	4,400,000	3,200,000
Loss on disposal, net										0
Other (income) expense, net									21,000,000	3,500,000	5,900,000
Total other expense									26,300,000	7,900,000	9,100,000
Income from equity investees									0	0	0
Income before income taxes									91,800,000	133,600,000	132,500,000
Income tax benefit (provision)									(27,100,000)	(34,900,000)	(38,900,000)
Net income before non-controlling interest									64,700,000	98,700,000	93,600,000
Less: net income attributable to non-controlling interest									0	0	0
Net income attributable to Tempur Sealy International, Inc.									64,700,000	98,700,000	93,600,000
Comprehensive income									(3,300,000)	60,300,000	86,200,000
Eliminations
Supplemental condensed consolidating statements of operations
Net sales									(50,600,000)	(42,600,000)	(22,000,000)
Cost of sales									(50,600,000)	(42,600,000)	(22,000,000)
Gross profit									0	0	0
Selling and marketing expenses									0	0	0
General, administrative and other expenses									0	0	0
Equity income in earnings of unconsolidated affiliates									0	0	0
Royalty income, net of royalty expense									0	0	0
Operating (loss) income									0	0	0
Other expense, net:
Third party interest expense, net									0	0	0
Intercompany interest expense (income), net									0	0	0
Interest expense, net									0	0	0
Loss on disposal, net										0
Other (income) expense, net									0	0	0
Total other expense									0	0	0
Income from equity investees									(197,600,000)	(257,900,000)	(227,000,000)
Income before income taxes									(197,600,000)	(257,900,000)	(227,000,000)
Income tax benefit (provision)									0	0	0
Net income before non-controlling interest									(197,600,000)	(257,900,000)	(227,000,000)
Less: net income attributable to non-controlling interest									(1,200,000)	(1,100,000)	(300,000)
Net income attributable to Tempur Sealy International, Inc.									(196,400,000)	(256,800,000)	(226,700,000)
Comprehensive income									(127,600,000)	(223,600,000)	$ (220,000,000)
2020 Senior Notes
Guarantor/non-guarantor financial information
Senior notes, noncurrent	375,000,000.0				375,000,000				375,000,000.0	375,000,000			$ 375,000,000.0
2023 Notes
Guarantor/non-guarantor financial information
Senior notes, noncurrent	$ 450,000,000.0				$ 0				$ 450,000,000.0	$ 0		$ 450,000,000.0

Guarantor/Non-Guarantor Financial Information - Schedule of Supplemental Condensed Consolidating Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current Assets:
Cash and cash equivalents	$ 153.9	$ 62.5	$ 81.0	$ 179.3
Accounts receivable, net	379.4	385.8
Inventories	199.2	217.2
Income tax receivable	0.0	0.0
Prepaid expenses and other current assets	76.6	56.5
Total Current Assets	809.1	722.0
Property, plant and equipment, net	361.7	355.6
Goodwill	709.4	736.5	759.6
Other intangible assets, net	695.4	727.1
Deferred tax asset	12.2	10.7
Other non-current assets	67.7	30.8
Net investment in subsidiaries	0.0	0.0
Due from affiliates	0.0	0.0
Total Assets	2,655.5	2,582.7
Current Liabilities:
Accounts payable	266.3	226.4
Accrued expenses and other current liabilities	254.0	233.3
Income taxes payable	11.2	12.0
Current portion of long-term debt	181.5	66.4
Total Current Liabilities	713.0	538.1
Long-term debt, net	1,273.3	1,498.3
Deferred income taxes	195.4	216.7
Other non-current liabilities	171.2	114.3
Due to affiliates	0.0	0.0
Total Liabilities	2,352.9	2,367.4
Redeemable non-controlling interest	12.4	12.6
Total Stockholders’ Equity	290.2	202.7
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	2,655.5	2,582.7
Tempur Sealy International, Inc. (Ultimate Parent)
Current Assets:
Cash and cash equivalents	0.0	0.4	0.0	0.0
Accounts receivable, net	0.0	0.0
Inventories	0.0	0.0
Income tax receivable	193.1	144.1
Prepaid expenses and other current assets	0.0	0.0
Total Current Assets	193.1	144.5
Property, plant and equipment, net	0.0	0.0
Goodwill	0.0	0.0
Other intangible assets, net	0.0	0.0
Deferred tax asset	16.0	12.4
Other non-current assets	0.0	0.0
Net investment in subsidiaries	1,960.5	1,808.4
Due from affiliates	548.1	51.4
Total Assets	2,717.7	2,016.7
Current Liabilities:
Accounts payable	0.0	0.0
Accrued expenses and other current liabilities	1.4	1.4
Income taxes payable	0.0	0.0
Current portion of long-term debt	0.0	0.0
Total Current Liabilities	1.4	1.4
Long-term debt, net	811.9	368.7
Deferred income taxes	0.0	0.0
Other non-current liabilities	0.0	0.0
Due to affiliates	1,601.8	1,431.3
Total Liabilities	2,415.1	1,801.4
Redeemable non-controlling interest	12.4	12.6
Total Stockholders’ Equity	290.2	202.7
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	2,717.7	2,016.7
Combined Guarantor Subsidiaries
Current Assets:
Cash and cash equivalents	121.8	25.5	30.9	19.2
Accounts receivable, net	231.9	241.2
Inventories	145.3	158.3
Income tax receivable	0.0	0.0
Prepaid expenses and other current assets	43.5	28.2
Total Current Assets	542.5	453.2
Property, plant and equipment, net	300.1	287.3
Goodwill	501.4	557.2
Other intangible assets, net	612.9	611.9
Deferred tax asset	0.0	0.0
Other non-current assets	23.3	15.1
Net investment in subsidiaries	0.0	0.0
Due from affiliates	1,655.3	2,226.0
Total Assets	3,635.5	4,150.7
Current Liabilities:
Accounts payable	212.2	170.4
Accrued expenses and other current liabilities	183.8	166.1
Income taxes payable	196.0	163.0
Current portion of long-term debt	168.7	61.8
Total Current Liabilities	760.7	561.3
Long-term debt, net	461.4	1,129.6
Deferred income taxes	189.8	202.3
Other non-current liabilities	166.6	109.3
Due to affiliates	96.5	340.2
Total Liabilities	1,675.0	2,342.7
Redeemable non-controlling interest	12.4	12.6
Total Stockholders’ Equity	1,948.1	1,795.4
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	3,635.5	4,150.7
Combined Non-Guarantor Subsidiaries
Current Assets:
Cash and cash equivalents	32.1	36.6	50.1	160.1
Accounts receivable, net	147.5	144.6
Inventories	53.9	58.9
Income tax receivable	0.0	0.0
Prepaid expenses and other current assets	33.1	28.3
Total Current Assets	266.6	268.4
Property, plant and equipment, net	61.6	68.3
Goodwill	208.0	179.3
Other intangible assets, net	82.5	115.2
Deferred tax asset	12.2	10.7
Other non-current assets	44.4	15.7
Net investment in subsidiaries	0.0	0.0
Due from affiliates	4.8	5.3
Total Assets	680.1	662.9
Current Liabilities:
Accounts payable	54.1	56.0
Accrued expenses and other current liabilities	68.8	65.8
Income taxes payable	8.3	(6.9)
Current portion of long-term debt	12.8	4.6
Total Current Liabilities	144.0	119.5
Long-term debt, net	0.0	0.0
Deferred income taxes	21.6	26.8
Other non-current liabilities	4.6	5.0
Due to affiliates	604.9	849.4
Total Liabilities	775.1	1,000.7
Redeemable non-controlling interest	0.0	0.0
Total Stockholders’ Equity	(95.0)	(337.8)
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	680.1	662.9
Eliminations
Current Assets:
Cash and cash equivalents	0.0	0.0	$ 0.0	$ 0.0
Accounts receivable, net	0.0	0.0
Inventories	0.0	0.0
Income tax receivable	(193.1)	(144.1)
Prepaid expenses and other current assets	0.0	0.0
Total Current Assets	(193.1)	(144.1)
Property, plant and equipment, net	0.0	0.0
Goodwill	0.0	0.0
Other intangible assets, net	0.0	0.0
Deferred tax asset	(16.0)	(12.4)
Other non-current assets	0.0	0.0
Net investment in subsidiaries	(1,960.5)	(1,808.4)
Due from affiliates	(2,208.2)	(2,282.7)
Total Assets	(4,377.8)	(4,247.6)
Current Liabilities:
Accounts payable	0.0	0.0
Accrued expenses and other current liabilities	0.0	0.0
Income taxes payable	(193.1)	(144.1)
Current portion of long-term debt	0.0	0.0
Total Current Liabilities	(193.1)	(144.1)
Long-term debt, net	0.0	0.0
Deferred income taxes	(16.0)	(12.4)
Other non-current liabilities	0.0	0.0
Due to affiliates	(2,303.2)	(2,620.9)
Total Liabilities	(2,512.3)	(2,777.4)
Redeemable non-controlling interest	(12.4)	(12.6)
Total Stockholders’ Equity	(1,853.1)	(1,457.6)
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity	$ (4,377.8)	$ (4,247.6)

Guarantor/Non-Guarantor Financial Information - Schedule of Supplemental Condensed Consolidating Statements of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplemental condensed consolidating statements of cash flows
Net cash (used in) provided by operating activities	$ 234.2	$ 225.2	$ 98.5
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of businesses, net of cash acquired	0.0	(8.5)	(1,172.9)
Proceeds from disposition of business	7.2	43.5	0.0
Purchases of property, plant and equipment	(65.9)	(47.5)	(40.0)
Other	(1.0)	2.1	(0.1)
Net cash used in investing activities	(59.7)	(10.4)	(1,213.0)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of Senior Notes	450.0	0.0	375.0
Proceeds from 2012 credit agreement	413.5	271.5	2,992.6
Repayments of 2012 credit agreement	(988.3)	(510.9)	(1,658.3)
Proceeds from 2011 credit facility	0.0	0.0	46.5
Repayments of 2011 credit facility	0.0	0.0	(696.5)
Net activity in investment in and advances (to) from subsidiaries and affiliates	0.0	0.0	0.0
Proceeds from exercise of stock options	20.4	4.3	8.7
Excess tax benefit from stock based compensation	21.8	1.7	5.4
Treasury stock repurchased	(1.3)	(2.2)	(7.0)
Payments of deferred financing costs	(8.0)	(3.1)	(52.0)
Proceeds from issuance of treasury stock by CEO	5.0	0.0	0.0
Other	(3.8)	0.6	(1.0)
Net cash (used in) provided by financing activities	(90.7)	(238.1)	1,013.4
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	7.6	4.8	2.8
Increase (decrease) in cash and cash equivalents	91.4	(18.5)	(98.3)
CASH AND CASH EQUIVALENTS, beginning of period	62.5	81.0	179.3
CASH AND CASH EQUIVALENTS, end of period	153.9	62.5	81.0
Tempur Sealy International, Inc. (Ultimate Parent)
Supplemental condensed consolidating statements of cash flows
Net cash (used in) provided by operating activities	(87.0)	(62.7)	(66.1)
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of businesses, net of cash acquired		0.0	0.0
Proceeds from disposition of business	0.0	0.0
Purchases of property, plant and equipment	0.0	0.0	0.0
Other	0.0	0.0	0.0
Net cash used in investing activities	0.0	0.0	0.0
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of Senior Notes	450.0		375.0
Proceeds from 2012 credit agreement	0.0	0.0	0.0
Repayments of 2012 credit agreement	0.0	0.0	0.0
Proceeds from 2011 credit facility			0.0
Repayments of 2011 credit facility			0.0
Net activity in investment in and advances (to) from subsidiaries and affiliates	(401.3)	59.3	(772.8)
Proceeds from exercise of stock options	20.4	4.3	8.7
Excess tax benefit from stock based compensation	21.8	1.7	5.4
Treasury stock repurchased	(1.3)	(2.2)	458.2
Payments of deferred financing costs	(8.0)	0.0	(8.4)
Proceeds from issuance of treasury stock by CEO	5.0
Other	0.0	0.0	0.0
Net cash (used in) provided by financing activities	86.6	63.1	66.1
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0.0	0.0	0.0
Increase (decrease) in cash and cash equivalents	(0.4)	0.4	0.0
CASH AND CASH EQUIVALENTS, beginning of period	0.4	0.0	0.0
CASH AND CASH EQUIVALENTS, end of period	0.0	0.4	0.0
Combined Guarantor Subsidiaries
Supplemental condensed consolidating statements of cash flows
Net cash (used in) provided by operating activities	274.7	191.5	80.9
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of businesses, net of cash acquired		0.0	(1,035.3)
Proceeds from disposition of business	7.2	43.5
Purchases of property, plant and equipment	(49.9)	(31.3)	(28.3)
Other	(0.7)	3.0	(54.7)
Net cash used in investing activities	(43.4)	15.2	(1,118.3)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of Senior Notes	0.0		0.0
Proceeds from 2012 credit agreement	402.9	271.5	2,992.6
Repayments of 2012 credit agreement	(988.3)	(510.9)	(1,658.3)
Proceeds from 2011 credit facility			46.5
Repayments of 2011 credit facility			(696.5)
Net activity in investment in and advances (to) from subsidiaries and affiliates	453.4	32.1	874.9
Proceeds from exercise of stock options	0.0	0.0	0.0
Excess tax benefit from stock based compensation	0.0	0.0	0.0
Treasury stock repurchased	0.0	0.0	(465.2)
Payments of deferred financing costs	0.0	(3.1)	(43.6)
Proceeds from issuance of treasury stock by CEO	0.0
Other	(3.0)	(1.7)	(1.3)
Net cash (used in) provided by financing activities	(135.0)	(212.1)	1,049.1
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0.0	0.0	0.0
Increase (decrease) in cash and cash equivalents	96.3	(5.4)	11.7
CASH AND CASH EQUIVALENTS, beginning of period	25.5	30.9	19.2
CASH AND CASH EQUIVALENTS, end of period	121.8	25.5	30.9
Combined Non-Guarantor Subsidiaries
Supplemental condensed consolidating statements of cash flows
Net cash (used in) provided by operating activities	46.5	96.4	83.7
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of businesses, net of cash acquired		(8.5)	(137.6)
Proceeds from disposition of business	0.0	0.0
Purchases of property, plant and equipment	(16.0)	(16.2)	(11.7)
Other	(0.3)	(0.9)	54.6
Net cash used in investing activities	(16.3)	(25.6)	(94.7)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of Senior Notes	0.0		0.0
Proceeds from 2012 credit agreement	10.6	0.0	0.0
Repayments of 2012 credit agreement	0.0	0.0	0.0
Proceeds from 2011 credit facility			0.0
Repayments of 2011 credit facility			0.0
Net activity in investment in and advances (to) from subsidiaries and affiliates	(52.1)	(91.4)	(102.1)
Proceeds from exercise of stock options	0.0	0.0	0.0
Excess tax benefit from stock based compensation	0.0	0.0	0.0
Treasury stock repurchased	0.0	0.0	0.0
Payments of deferred financing costs	0.0	0.0	0.0
Proceeds from issuance of treasury stock by CEO	0.0
Other	(0.8)	2.3	0.3
Net cash (used in) provided by financing activities	(42.3)	(89.1)	(101.8)
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	7.6	4.8	2.8
Increase (decrease) in cash and cash equivalents	(4.5)	(13.5)	(110.0)
CASH AND CASH EQUIVALENTS, beginning of period	36.6	50.1	160.1
CASH AND CASH EQUIVALENTS, end of period	32.1	36.6	50.1
Eliminations
Supplemental condensed consolidating statements of cash flows
Net cash (used in) provided by operating activities	0.0	0.0	0.0
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisition of businesses, net of cash acquired		0.0	0.0
Proceeds from disposition of business	0.0	0.0
Purchases of property, plant and equipment		0.0	0.0
Other	0.0	0.0	0.0
Net cash used in investing activities	0.0	0.0	0.0
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of Senior Notes	0.0		0.0
Proceeds from 2012 credit agreement	0.0	0.0	0.0
Repayments of 2012 credit agreement	0.0	0.0	0.0
Proceeds from 2011 credit facility			0.0
Repayments of 2011 credit facility			0.0
Net activity in investment in and advances (to) from subsidiaries and affiliates	0.0	0.0	0.0
Proceeds from exercise of stock options	0.0	0.0	0.0
Excess tax benefit from stock based compensation	0.0	0.0	0.0
Treasury stock repurchased	0.0	0.0	0.0
Payments of deferred financing costs	0.0	0.0	0.0
Proceeds from issuance of treasury stock by CEO	0.0
Other	0.0	0.0	0.0
Net cash (used in) provided by financing activities	0.0	0.0	0.0
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	0.0	0.0	0.0
Increase (decrease) in cash and cash equivalents	0.0	0.0	0.0
CASH AND CASH EQUIVALENTS, beginning of period	0.0	0.0	0.0
CASH AND CASH EQUIVALENTS, end of period	$ 0.0	$ 0.0	$ 0.0

VALUATION AND QUALIFYING ACCOUNTS SCHEDULE II (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Allowance for Doubtful Accounts
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 19.5	$ 19.3	$ 8.2
Additions - Charges to Costs and Expenses	6.9	4.9	1.3
Additions - Charged to Other Accounts	0.0	0.0	0.0
Deductions	(3.1)	(4.7)	9.8
Balance at End of Period	23.3	19.5	19.3
Valuation Allowance of Deferred Tax Assets
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	21.7	39.4	0.1
Additions - Charges to Costs and Expenses	4.6	2.2	20.4
Additions - Charged to Other Accounts	0.0	0.0	18.9
Deductions	(2.1)	(19.9)	0.0
Balance at End of Period	$ 24.2	$ 21.7	$ 39.4