Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2019	Nov. 04, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-31922
Entity Registrant Name	TEMPUR SEALY INTERNATIONAL, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	33-1022198
Entity Address, Address Line One	1000 Tempur Way
Entity Address, City or Town	Lexington
Entity Address, State or Province	KY
Entity Address, Postal Zip Code	40511
City Area Code	800
Local Phone Number	878-8889
Title of 12(b) Security	Common Stock, $0.01 par value
Entity Trading Symbol	TPX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		54,090,267
Entity Central Index Key	0001206264
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Net sales	$ 821.0	$ 729.5	$ 2,234.7	$ 2,026.8
Cost of sales	460.4	429.5	1,278.9	1,189.3
Gross profit	360.6	300.0	955.8	837.5
Selling and marketing expenses	168.6	145.9	485.4	444.6
General, administrative and other expenses	75.3	73.2	218.7	206.0
Equity income in earnings of unconsolidated affiliates	(3.9)	(3.8)	(10.4)	(11.5)
Operating (loss) income	120.6	84.7	262.1	198.4
Other expense (income), net:
Interest expense, net	20.8	23.6	65.7	69.5
Other expense (income), net	(1.3)	(1.4)	6.5	1.8
Total other expense, net	22.1	25.0	59.2	67.7
Income from continuing operations before income taxes	98.5	59.7	202.9	130.7
Income tax provision	(26.1)	(15.6)	(58.8)	(34.4)
Income from continuing operations	72.4	44.1	144.1	96.3
Income (loss) from discontinued operations, net of tax	0.8	(2.7)	(0.8)	(10.9)
Net income before non-controlling interest	73.2	41.4	143.3	85.4
Less: Net loss attributable to non-controlling interest	(0.1)	(0.9)		(2.8)
Less: Comprehensive loss attributable to non-controlling interest	(0.1)	(0.9)	0.0	(2.8)
Net income attributable to Tempur Sealy International, Inc.	$ 73.3	$ 42.3	$ 143.3	$ 88.2
Basic
Earnings per share for continuing operations (in dollars per share)	$ 1.33	$ 0.83	$ 2.63	$ 1.82
Earnings (loss) per share for discontinued operations (in dollars per share)	0.01	(0.05)	(0.01)	(0.20)
Earnings per share (in dollars per share)	1.34	0.78	2.62	1.62
Diluted
Earnings per share for continuing operations (in dollars per share)	1.30	0.82	2.57	1.80
Earnings (loss) per share for discontinued operations (in dollars per share)	0.01	(0.05)	(0.01)	(0.20)
Earnings per share (in dollars per share)	$ 1.31	$ 0.77	$ 2.56	$ 1.60
Weighted average common shares outstanding:
Basic (in shares)	54.6	54.5	54.7	54.4
Diluted (in shares)	55.8	55.1	56.0	55.0

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income before non-controlling interest	$ 73.2	$ 41.4	$ 143.3	$ 85.4
Other comprehensive income, net of tax
Foreign currency translation adjustments	(6.7)	2.4	0.3	(8.7)
Pension benefits loss, net of tax	0.0	0.0	0.0	(0.6)
Other comprehensive (loss) income, net of tax	(6.7)	2.4	0.3	(9.3)
Comprehensive income	66.5	43.8	143.6	76.1
Less: Comprehensive loss attributable to non-controlling interest	(0.1)	(0.9)	0.0	(2.8)
Comprehensive income attributable to Tempur Sealy International, Inc.	$ 66.6	$ 44.7	$ 143.6	$ 78.9

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Current Assets:
Cash and cash equivalents	$ 52.9	$ 45.8
Accounts receivable, net	431.2	321.5
Inventories	270.8	222.3
Prepaid expenses and other current assets	205.6	215.8
Total Current Assets	960.5	805.4
Property, plant and equipment, net	431.5	420.8
Goodwill	730.4	723.0
Other intangible assets, net	644.0	649.3
Operating lease right-of-use assets	227.2
Deferred income taxes	13.6	22.6
Other non-current assets	95.9	94.3
Total Assets	3,103.1	2,715.4
Current Liabilities:
Accounts payable	276.2	253.0
Accrued expenses and other current liabilities	486.4	359.2
Current portion of long-term debt	60.1	47.1
Income taxes payable	25.3	9.7
Total Current Liabilities	848.0	669.0
Long-term debt, net	1,509.5	1,599.1
Long-term operating lease obligations	186.2
Deferred income taxes	110.1	117.5
Other non-current liabilities	112.8	112.3
Total Liabilities	2,766.6	2,497.9
Commitments and contingencies
Total Stockholders' Equity	336.5	217.5
Total Liabilities and Stockholders' Equity	$ 3,103.1	$ 2,715.4

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Treasury Stock	Additional Paid in Capital	Retained Earnings	Accumulated Other Comprehensive Loss	Non-controlling Interest
Balance at beginning of period at Dec. 31, 2017							$ 2.2
Increase (Decrease) in Temporary Equity [Roll Forward]
Net loss attributable to non-controlling interest							(2.7)
Acquisition of non-controlling interest							0.5
Balance at end of period at Sep. 30, 2018							0.0
Balance at beginning of period (in shares) at Dec. 31, 2017		99.2	45.0
Balance at beginning of period at Dec. 31, 2017	$ 112.5	$ 1.0	$ (1,737.2)	$ 508.0	$ 1,416.2	$ (75.5)	0.0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	88.2				88.2
Net income (loss) attributable to non-controlling interest	(0.1)						(0.1)
Acquisition of non-controlling interest in subsidiary	1.3						1.3
Adjustment to pension liability, net of tax	(0.1)					(0.1)
Foreign currency adjustments	(8.7)					(8.7)
Exercise of stock options (in shares)			(0.1)
Exercise of stock options	4.2		$ 1.6	2.6
Issuances of PRSUs, RSUs, and DSUs (in shares)			(0.2)
Issuances of PRSUs, RSUs, and DSUs	0.0		$ 2.7	(2.7)
Treasury stock repurchased (in shares)			0.1
Treasury stock repurchased	(3.5)		$ (3.5)
Amortization of unearned stock-based compensation	19.6			19.6
Acquisition of non-controlling interest	(0.5)			(0.5)
Balance at ending of period (in shares) at Sep. 30, 2018		99.2	44.8
Balance at end of period at Sep. 30, 2018	209.5	$ 1.0	$ (1,736.4)	527.0	1,501.5	(84.8)	1.2
Balance at beginning of period at Jun. 30, 2018							0.4
Increase (Decrease) in Temporary Equity [Roll Forward]
Net loss attributable to non-controlling interest							(0.9)
Acquisition of non-controlling interest							0.5
Balance at end of period at Sep. 30, 2018							0.0
Balance at beginning of period (in shares) at Jun. 30, 2018		99.2	44.9
Balance at beginning of period at Jun. 30, 2018	157.7	$ 1.0	$ (1,736.9)	520.4	1,459.2	(87.2)	1.2
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	42.3				42.3
Net income (loss) attributable to non-controlling interest	0.0
Foreign currency adjustments	2.4					2.4
Exercise of stock options (in shares)			0.0
Exercise of stock options	1.6		$ 0.6	1.0
Issuances of PRSUs, RSUs, and DSUs (in shares)			(0.1)
Issuances of PRSUs, RSUs, and DSUs	0.0		$ 0.4	(0.4)
Treasury stock repurchased (in shares)			0.0
Treasury stock repurchased	(0.5)		$ (0.5)
Amortization of unearned stock-based compensation	6.5			6.5
Acquisition of non-controlling interest	(0.5)			(0.5)
Balance at ending of period (in shares) at Sep. 30, 2018		99.2	44.8
Balance at end of period at Sep. 30, 2018	209.5	$ 1.0	$ (1,736.4)	527.0	1,501.5	(84.8)	1.2
Balance at beginning of period at Dec. 31, 2018							0.0
Balance at end of period at Sep. 30, 2019							0.0
Balance at beginning of period (in shares) at Dec. 31, 2018		99.2	44.7
Balance at beginning of period at Dec. 31, 2018	217.5	$ 1.0	$ (1,737.0)	532.1	1,513.8	(95.3)	2.9
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	143.3				143.3
Net income (loss) attributable to non-controlling interest	0.0						0.0
Repurchase of interest in subsidiary	(1.9)						(1.9)
Foreign currency adjustments	0.3					0.3
Exercise of stock options (in shares)			(0.3)
Exercise of stock options	12.8		$ 3.6	9.2
Issuances of PRSUs, RSUs, and DSUs (in shares)			(0.2)
Issuances of PRSUs, RSUs, and DSUs	0.0		$ 3.6	(3.6)
Treasury stock repurchased (in shares)			0.8
Treasury stock repurchased	(55.5)		$ (55.5)
Amortization of unearned stock-based compensation	20.0			20.0
Balance at ending of period (in shares) at Sep. 30, 2019		99.2	45.0
Balance at end of period at Sep. 30, 2019	336.5	$ 1.0	$ (1,785.3)	557.7	1,657.1	(95.0)	1.0
Balance at beginning of period at Jun. 30, 2019							0.0
Balance at end of period at Sep. 30, 2019							0.0
Balance at beginning of period (in shares) at Jun. 30, 2019		99.2	44.4
Balance at beginning of period at Jun. 30, 2019	305.9	$ 1.0	$ (1,737.3)	545.6	1,583.8	(88.3)	1.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	73.3				73.3
Net income (loss) attributable to non-controlling interest	(0.1)						(0.1)
Foreign currency adjustments	(6.7)					(6.7)
Exercise of stock options (in shares)			(0.1)
Exercise of stock options	7.3		$ 1.9	5.4
Issuances of PRSUs, RSUs, and DSUs	0.0		$ 0.1	(0.1)
Treasury stock repurchased (in shares)			0.7
Treasury stock repurchased	(50.0)		$ (50.0)
Amortization of unearned stock-based compensation	6.8			6.8
Balance at ending of period (in shares) at Sep. 30, 2019		99.2	45.0
Balance at end of period at Sep. 30, 2019	$ 336.5	$ 1.0	$ (1,785.3)	$ 557.7	$ 1,657.1	$ (95.0)	$ 1.0

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES FROM CONTINUING OPERATIONS:
Net income before non-controlling interest	$ 143.3	$ 85.4
Loss from discontinued operations, net of tax	0.8	10.9
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	66.7	65.2
Amortization of stock-based compensation	20.0	19.6
Non-cash lease expense	3.6	0.0
Amortization of deferred financing costs	1.7	1.8
Bad debt expense	7.3	9.7
Deferred income taxes	0.5	9.2
Dividends received from unconsolidated affiliates	12.8	13.0
Equity income in earnings of unconsolidated affiliates	(10.4)	(11.5)
Loss on disposal of assets	0.3	2.2
Foreign currency adjustments and other	(5.8)	(2.4)
Changes in operating assets and liabilities	(39.1)	(72.5)
Net cash provided by operating activities from continuing operations	201.7	130.6
CASH FLOWS FROM INVESTING ACTIVITIES FROM CONTINUING OPERATIONS:
Purchases of property, plant and equipment	(61.9)	(55.8)
Acquisitions, net of cash acquired	(17.1)	0.0
Other	15.0	0.3
Net cash used in investing activities from continuing operations	(64.0)	(55.5)
CASH FLOWS FROM FINANCING ACTIVITIES FROM CONTINUING OPERATIONS:
Proceeds from borrowings under long-term debt obligations	602.5	863.0
Repayments of borrowings under long-term debt obligations	(678.5)	(922.7)
Proceeds from exercise of stock options	12.8	4.2
Treasury stock repurchased	(55.5)	(3.5)
Payments of deferred financing costs	0.1	0.0
Other	(6.0)	(4.7)
Net cash used in financing activities from continuing operations	(124.8)	(63.7)
Net cash provided by continuing operations	12.9	11.4
CASH USED IN DISCONTINUED OPERATIONS
Operating cash flows	(1.7)	(17.6)
Investing cash flows	0.0	(0.2)
Financing cash flows	0.0	0.0
Net cash used in discontinued operations	(1.7)	(17.8)
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	(4.1)	(2.1)
Increase (decrease) in cash and cash equivalents	7.1	(8.5)
CASH AND CASH EQUIVALENTS, beginning of period	45.8	41.9
CASH AND CASH EQUIVALENTS, end of period	52.9	33.4
LESS: CASH AND CASH EQUIVALENTS OF DISCONTINUED OPERATIONS	0.0	(1.3)
CASH AND CASH EQUIVALENTS OF CONTINUING OPERATIONS	52.9	32.1
Cash paid during the period for:
Interest	53.5	54.0
Income taxes, net of refunds	$ 40.0	$ 22.0

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2019

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: Wholesale and Direct.

The Company has ownership interests in a group of Asia-Pacific joint ventures to develop markets for Sealy® branded products in those regions. The Company’s ownership interest in these joint ventures is 50.0%. The equity method of accounting is used for these joint ventures, over which the Company has significant influence but does not have control, and consolidation is not otherwise required. The Company's carrying value in its equity method investments of $17.3 million and $22.5 million at September 30, 2019 and December 31, 2018, respectively, is recorded in other non-current assets within the accompanying Condensed Consolidated Balance Sheets. The Company’s equity in the net income and losses of these investments is recorded as equity income in earnings of unconsolidated affiliates in the accompanying Condensed Consolidated Statements of Income.

The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and include all of the information and disclosures required by generally accepted accounting principles in the United States ("GAAP") for interim financial reporting. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements of the Company and related footnotes for the year ended December 31, 2018, included in the 2018 Annual Report filed with the Securities and Exchange Commission on February 25, 2019.

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

(b) Adoption of New Accounting Standards.

Leases. Effective January 1, 2019, the Company adopted Accounting Standards Codification 842, Leases ("ASC 842"). ASC 842 consists of a comprehensive lease accounting standard requiring most leases to be recognized on the Condensed Consolidated Balance Sheet and significant new disclosures. The Company determines if an arrangement contains a lease at inception based on whether or not the Company has the right to control the asset during the contract period and other facts and circumstances. The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed it to carry forward the historical lease classification.

Operating lease right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease, both of which are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. Leases with a lease term of 12 months or less at inception are not recorded within the Condensed Consolidated Balance Sheet and are expensed on a straight-line basis over the lease term within the Condensed Consolidated Statement of Income. The lease term is determined by assuming the exercise of renewal options that are reasonably certain. As most leases do not provide an implicit interest rate, the Company used its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. When contracts contain lease and non-lease components, the Company generally accounts for both components as a single lease component.

The adoption of ASC 842 resulted in the recognition of right-of-use assets of $197.2 million and operating lease liabilities of $203.3 million as of January 1, 2019. Results for reporting periods beginning prior to January 1, 2019 continue to be reported in accordance with our historical accounting treatment. The adoption of ASC 842 did not have a material impact on the Company's results of operations, cash flows or debt covenants. For additional information, see Note 8, "Leases" of the Condensed Consolidated Financial Statements.

(c) Inventories. Inventories are stated at the lower of cost and net realizable value, determined by the first-in, first-out method, and consist of the following:



	September 30,		December 31,
(in millions)	2019		2018
Finished goods	$	165.5	$	148.9
Work-in-process	11.5		11.8
Raw materials and supplies	93.8		61.6
	$	270.8	$	222.3

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

The Company had the following activity for sales returns from December 31, 2018 to September 30, 2019:



(in millions)
Balance as of December 31, 2018	$	34.3
Amounts accrued	81.5
Returns charged to accrual	(76.0		)
Balance as of September 30, 2019	$	39.8

As of September 30, 2019 and December 31, 2018, $27.2 million and $22.0 million of accrued sales returns are included as a component of accrued expenses and other current liabilities and $12.6 million and $12.3 million, of accrued sales returns are included in other non-current liabilities on the Company’s accompanying Condensed Consolidated Balance Sheets, respectively.

(e) Warranties. The Company provides warranties on certain products, which vary 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. The Company considers the impact of recoverable salvage value on warranty costs in determining its estimate of future warranty obligations.

The Company provides warranties on mattresses with varying warranty terms. Tempur-Pedic 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-Pedic 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-Pedic pillows have a warranty term of 3 years, non-prorated.

The Company had the following activity for its accrued warranty expense from December 31, 2018 to September 30, 2019:



(in millions)
Balance as of December 31, 2018	$	36.4
Amounts accrued	23.6
Warranties charged to accrual	(18.8		)
Balance as of September 30, 2019	$	41.2

As of September 30, 2019 and December 31, 2018, $19.0 million and $14.9 million of accrued warranty expense is included as a component of accrued expenses and other current liabilities and $22.2 million and $21.5 million of accrued warranty expense is included in other non-current liabilities in the Company’s accompanying Condensed Consolidated Balance Sheets, respectively.

(f) Allowance for Doubtful Accounts. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s accounts receivable. The Company regularly reviews the adequacy of its allowance for doubtful accounts. The Company determines the allowance based on historical write-off experience and current economic conditions and also considers factors such as customer credit, past transaction history with the customer and changes in customer payment terms when determining whether the collection of a 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 Condensed Consolidated Balance Sheets was $48.9 million and $47.6 million as of September 30, 2019 and December 31, 2018, respectively.

Revenue Recognition

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Disaggregation of Revenue

The following table presents the Company's disaggregated revenue by channel, product and geographical region, including a reconciliation of disaggregated revenue by segment, for the three and nine months ended September 30, 2019:



	Three Months Ended September 30, 2019						Nine Months Ended September 30, 2019
(in millions)	North America		International		Consolidated		North America		International		Consolidated
Channel
Wholesale	$	602.2	$	107.9	$	710.1	$	1,632.5	$	325.7	$	1,958.2
Direct	79.8		31.1		110.9		181.6		94.9		276.5
Net sales	$	682.0	$	139.0	$	821.0	$	1,814.1	$	420.6	$	2,234.7

	North America		International		Consolidated		North America		International		Consolidated
Product
Bedding products	$	640.6	$	111.6	$	752.2	$	1,709.2	$	335.4	$	2,044.6
Other products	41.4		27.4		68.8		104.9		85.2		190.1
Net sales	$	682.0	$	139.0	$	821.0	$	1,814.1	$	420.6	$	2,234.7

	North America		International		Consolidated		North America		International		Consolidated
Geographical region
United States	$	621.4	$	—	$	621.4	$	1,652.3	$	—	$	1,652.3
Canada	60.6		—		60.6		161.8		—		161.8
International	—		139.0		139.0		—		420.6		420.6
Net sales	$	682.0	$	139.0	$	821.0	$	1,814.1	$	420.6	$	2,234.7



	Three Months Ended September 30, 2018						Nine Months Ended September 30, 2018
(in millions)	North America		International		Consolidated		North America		International		Consolidated
Channel
Wholesale	$	553.6	$	107.3	$	660.9	$	1,501.9	$	343.7	$	1,845.6
Direct	42.2		26.4		68.6		106.7		74.5		181.2
Net sales	$	595.8	$	133.7	$	729.5	$	1,608.6	$	418.2	$	2,026.8

	North America		International		Consolidated		North America		International		Consolidated
Product
Bedding products	$	563.0	$	108.3	$	671.3	$	1,512.7	$	335.9	$	1,848.6
Other products	32.8		25.4		58.2		95.9		82.3		178.2
Net sales	$	595.8	$	133.7	$	729.5	$	1,608.6	$	418.2	$	2,026.8

	North America		International		Consolidated		North America		International		Consolidated
Geographical region
United States	$	536.8	$	—	$	536.8	$	1,454.6	$	—	$	1,454.6
Canada	59.0		—		59.0		154.0		—		154.0
International	—		133.7		133.7		—		418.2		418.2
Net sales	$	595.8	$	133.7	$	729.5	$	1,608.6	$	418.2	$	2,026.8

The North America and International segments sell product through two channels: Wholesale and Direct. The Wholesale channel includes all product sales to third party retailers, including third party distribution, hospitality and healthcare. The Direct channel includes product sales through company-owned stores, e-commerce and call centers. The North America and International segments classify products into two major categories: Bedding and Other. Bedding products include mattresses, foundations and adjustable foundations. Other products include pillows, mattress covers, sheets, cushions and various other comfort products.

The Wholesale channel also includes income from royalties derived by licensing Sealy® and Stearns & Foster® brands, technology and trademarks to other manufacturers. The licenses include rights for the licensees to use trademarks as well as current proprietary or patented technology that the Company utilizes. The Company also provides its licensees with product specifications, research and development, statistical services and marketing programs. The Company recognizes royalty income based on the occurrence of sales of Sealy® and Stearns & Foster® branded products by various licensees.

For product sales in each of the Company's channels, the Company recognizes a sale when the obligations under the terms of the contract with the customer is satisfied, which is generally when control of the product has transferred to the customer. Transferring control of each product sold is considered a separate performance obligation. The Company transfers control and recognizes a sale when the customer receives the product. Each unit sold is considered an independent, unbundled performance obligation. The Company does not have any additional performance obligations other than product sales that are material in the context of the contract. The Company also offers assurance type warranties on certain of its products, which is not accounted for as separate performance obligations under the revenue model.

The transaction price is measured as the amount of consideration the Company expects to receive in exchange for transferring goods. The amount of consideration the Company receives, and correspondingly, the revenue that is recognized, varies due to sales incentives and returns the Company offers to its Wholesale and Direct channel customers. Specifically, the Company extends volume discounts, as well as promotional allowances, floor sample discounts, commissions paid to retail associates and slotting fees to its Wholesale channel customers and reflects these amounts as a reduction of sales at the time revenue is recognized based on historical experience. The Company allows returns following a sale, depending on the channel and promotion. The Company reduces revenue and cost of sales for its estimate of the expected returns, which is primarily based on the level of historical sales returns. The Company does not offer extended payment terms beyond one year to customers. As such, the Company does not adjust its consideration for financing arrangements.

In certain jurisdictions, the Company is subject to certain non-income taxes including, but not limited to, sales tax, value added tax, excise tax and other taxes. These taxes are excluded from the transaction price, and therefore, excluded from revenue. The Company has elected to account for shipping and handling activities as a fulfillment cost as permitted by Topic 606. Accordingly, the Company reflects all amounts billed to customers for shipping and handling in revenue and the costs of fulfillment in cost of sales.

Acquisitions

9 Months Ended

Sep. 30, 2019

Business Combinations [Abstract]

Acquisitions

Acquisition of Innovative Mattress Solutions, LLC ("iMS")

On January 11, 2019, iMS filed for bankruptcy and the Company provided debtor-in-possession financing in connection with the iMS Chapter 11 proceedings. On April 1, 2019, the Company acquired substantially all of the net assets of iMS in a transaction valued at approximately $24 million, including assumed liabilities of approximately $11 million as of March 31, 2019 (referred to as the "Sleep Outfitters Acquisition"). The acquisition of this regional bedding retailer furthers the Company’s North American retail strategy, which is focused on meeting customer demand through geographic representation and sales expertise.

The Company accounted for this transaction as a business combination. Total cash consideration was $13.2 million, less cash acquired of $5.1 million, resulting in a purchase price of $8.1 million. The preliminary allocation of the purchase price is based on estimates of the fair values of the assets acquired and liabilities assumed as of April 1, 2019, which primarily includes the following:



(in millions)
Working capital (accounts receivable and inventory, net of accounts payable and accrued liabilities)	$	(2.3	)
Property and equipment	5.0
Goodwill	3.3
Other intangible assets	2.1
Operating lease right-of-use assets	28.5
Long-term operating lease liabilities	(28.5		)
Net purchase price	$	8.1

Goodwill is calculated as the excess of the purchase price over the net assets acquired and primarily represents the growth opportunities and synergistic benefits to be realized from the acquisition. The goodwill is deductible for income tax purposes and will be included within the North American reporting unit for goodwill impairment assessments.

As a result of the acquisition, the Company acquired trade names and customer database of $2.1 million.

Acquisition in the International segment

On April 1, 2019, the Company acquired the net assets of an entity in the International segment. The acquisition was valued at $7.1 million, and the purchase price allocation primarily included working capital, property, plant and equipment and inventory. Additionally, the Company recognized goodwill of $2.9 million and other intangible assets of $2.9 million.

Debt

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Debt

Debt for the Company consists of the following:



	September 30, 2019			December 31, 2018
(in millions, except percentages)	Amount		Rate	Amount		Rate	Maturity Date
2016 Credit Agreement
Term A Facility	$	423.8	(1)	$	525.0	(2)	April 6, 2021
Revolver	—		(1)	—		(2)	April 6, 2021
2026 Senior Notes	600.0		5.500%	600.0		5.500%	June 15, 2026
2023 Senior Notes	450.0		5.625%	450.0		5.625%	October 15, 2023
Securitized debt	33.9		(3)	9.1		(3)	April 6, 2021
Finance/capital lease obligations ⁽⁴⁾	65.0			66.7			Various
Other	3.4			3.0			Various
Total debt	1,576.1			1,653.8
Less: deferred financing costs	6.5			7.6
Total debt, net	1,569.6			1,646.2
Less: current portion	60.1			47.1
Total long-term debt, net	$	1,509.5		$	1,599.1



(1)	Interest at LIBOR plus applicable margin of 1.75% as of September 30, 2019.
(2)	Interest at LIBOR plus applicable margin of 2.00% as of December 31, 2018.
(3)	Interest at one month LIBOR index plus 80 basis points.
(4)	Finance/capital lease obligations are a non-cash financing activity.

As of September 30, 2019, the Company was in compliance with all applicable debt covenants.

2019 Credit Agreement

On October 16, 2019, the Company entered into the 2019 Credit Agreement with a syndicate of banks. The 2019 Credit Agreement replaced the Company's 2016 Credit Agreement. The 2019 Credit Agreement provides for a $425.0 million revolving credit facility, a $425.0 million term loan facility, and an incremental facility in an aggregate amount of up to $550.0 million plus the amount of certain prepayments plus an additional unlimited amount subject to compliance with a maximum consolidated secured leverage ratio test. The 2019 Credit Agreement has a $60.0 million sub-facility for the issuance of letters of credit.

Borrowings under the 2019 Credit Agreement will generally bear interest, at the election of Tempur Sealy International and the other subsidiary borrowers, at either (i) Base Rate plus the applicable margin or (ii) Eurocurrency Rate plus the applicable margin. For the revolving credit facility and the term loan facility (a) the initial applicable margin for Base Rate advances was 0.625% per annum and the initial applicable margin for Eurocurrency Rate advances was 1.625% per annum, and (b) following the delivery of financial statements for the fiscal quarter ending December 31, 2019, such applicable margins will be determined by a pricing grid based on the consolidated total net leverage ratio of the Company.

Obligations under the 2019 Credit Agreement are guaranteed by the Company’s existing and future direct and indirect wholly-owned domestic subsidiaries, subject to certain exceptions and are secured by a security interest in substantially all of 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 owned by the Company or a 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 the Company or a subsidiary guarantor.

The 2019 Credit Agreement requires compliance with certain financial covenants providing for maintenance of a minimum consolidated interest coverage ratio, maintenance of a maximum consolidated total net leverage ratio, and maintenance of a maximum consolidated secured net leverage ratio. The consolidated total net leverage ratio is calculated using consolidated indebtedness less netted cash (as defined below). Consolidated indebtedness includes debt recorded on the Condensed Consolidated Balance Sheets as of the reporting date, plus letters of credit outstanding in excess of $40.0 million and other short-term debt. The Company is allowed to subtract from consolidated indebtedness an amount equal to 100.0% of the domestic and foreign unrestricted cash ("netted cash"), the aggregate of which cannot exceed $200.0 million at the end of the reporting period. As of September 30, 2019, netted cash was $51.2 million.

The 2019 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. The 2019 Credit Agreement also contains certain customary affirmative covenants and events of default, including upon a change of control.

The Company is required to pay a commitment fee on the unused portion of the revolving credit facility, which initially will be 0.25% per annum and following the delivery of financial statements for the fiscal quarter ending December 31, 2019, such fees as determined by a pricing grid based on the consolidated total net leverage ratio of the Company. This unused commitment fee is payable quarterly in arrears and on the date of termination or expiration of the commitments under the revolving credit facility. The Company and the other borrowers also pay customary letter of credit issuance and other fees under the 2019 Credit Agreement.

The maturity date of the 2019 Credit Agreement is October 16, 2024. Amounts under the revolving credit facility may be borrowed, repaid and re-borrowed from time to time until the maturity date. The term loan facility is subject to quarterly amortization as set forth in the 2019 Credit Agreement. In addition, the term loan facility is subject to mandatory prepayment in connection with certain debt issuances, asset sales and casualty events, subject to certain reinvestment rights. Voluntary prepayments and commitment reductions under the 2019 Credit Agreement are permitted at any time without payment of any prepayment premiums.

2016 Credit Agreement

The Company used the proceeds from the 2019 Credit Agreement to refinance outstanding borrowings under the 2016 Credit Agreement and terminated the existing revolving credit commitments. The 2016 Credit Agreement initially provided for a $500.0 million revolving credit facility, a $500.0 million initial term loan facility and a $100.0 million delayed draw term loan facility.

During the nine months ended September 30, 2019, the Company prepaid $75.0 million on the Term A Facility under the 2016 Credit Agreement.

Securitized Debt

On April 12, 2017, the Company and certain of its subsidiaries entered into a securitization transaction with respect to certain accounts receivable due to the Company and certain of its subsidiaries (as amended, the "Accounts Receivable Securitization"). On April 5, 2019, the Company and its subsidiaries entered into a new amendment to the Accounts Receivable Securitization. The amendment, among other things, extended the maturity date of the Accounts Receivable Securitization to April 6, 2021.

Fair Value of Financial Instruments

Financial instruments, although not recorded at fair value on a recurring basis, include cash and cash equivalents, accounts receivable, accounts payable, and the Company's debt obligations. The carrying value of cash and cash equivalents, accounts receivable and accounts payable approximate fair value using Level 1 inputs because of the short-term maturity of those instruments. Borrowings under the 2016 Credit Agreement and the securitized debt are at variable interest rates and accordingly their carrying amounts approximate fair value. The fair value of the following material financial instruments were based on Level 2 inputs estimated using discounted cash flows and market-based expectations for interest rates, credit risk, and the contractual terms of debt instruments. The fair values of these material financial instruments are as follows:



	Fair Value
(in millions)	September 30, 2019		December 31, 2018
2023 Senior Notes	$	463.8	$	435.6
2026 Senior Notes	627.2		549.3

Leases

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Leases

ASC 842 Summary

The Company leases retail stores, manufacturing and distribution facilities, office space and equipment under operating lease agreements. Most leases include one or more options to renew, with renewal terms that can extend the lease term from one to several years, with the longest renewal period extending through 2043. The exercise of lease renewal options are at the Company's sole discretion. Certain leases also include options to purchase the leased property. The depreciable life of assets and leasehold improvements are limited by the expected lease term, unless there is a transfer of title or purchase option reasonably certain of exercise.

The following table summarizes the classification of operating and finance lease assets and obligations in the Company's Condensed Consolidated Balance Sheet as of September 30, 2019:



(in millions)		September 30, 2019
Assets
Operating lease assets	Operating lease right-of-use assets	$	227.2
Finance lease assets	Property, plant and equipment, net	55.4
Total leased assets		$	282.6

Liabilities
Short-term:
Operating lease obligations	Accrued expenses and other current liabilities	$	49.7
Finance lease obligations	Current portion of long-term debt	8.0
Long-term:
Operating lease obligations	Long-term operating lease obligations	186.2
Finance lease obligations	Long-term debt, net	57.0
Total lease obligations		$	300.9

The following table summarizes the classification of lease expense in the Company's Condensed Consolidated Statement of Income for the three and nine months ended September 30, 2019:



	Three Months Ended		Nine Months Ended
(in millions)	September 30, 2019		September 30, 2019
Operating lease expense ⁽¹⁾	$	24.0	$	65.2
Finance lease expense:
Amortization of right-of-use assets	2.1		6.3
Interest on lease obligations	1.2		3.6
Total lease expense	$	27.3	$	75.1



(1)	Includes short-term leases and variable lease expenses, which are immaterial.

The following table sets forth the scheduled maturities of lease obligations as of September 30, 2019:



(in millions)	Operating Leases		Finance Leases		Total
Year Ended December 31,
2019 (excluding the nine months ended September 30, 2019)	$	16.0	$	3.0	$	19.0
2020	58.5		11.9		70.4
2021	50.2		11.7		61.9
2022	42.4		9.6		52.0
2023	32.6		7.7		40.3
Thereafter	77.3		43.9		121.2
Total lease payments	277.0		87.8		364.8
Less: Interest	41.1		22.8		63.9
Present value of lease obligations	$	235.9	$	65.0	$	300.9

The following table provides lease term and discount rate information related to operating and finance leases as of September 30, 2019:



	September 30, 2019
Weighted average remaining lease term (years):
Operating leases	5.78
Finance leases	9.38

Weighted average discount rate:
Operating leases	5.47	%
Finance leases	6.29	%

The following table provides supplemental information related to the Company's Condensed Consolidated Statement of Cash Flows for the nine months ended September 30, 2019:



	Nine Months Ended
(in millions)	September 30, 2019
Cash paid for amounts included in the measurement of lease obligations:
Operating cash flows paid for operating leases	$	42.5
Financing cash flows paid for finance leases	5.9

Right-of-use assets obtained in exchange for new operating lease obligations	$	66.1

Leases

ASC 842 Summary

The following table summarizes the classification of operating and finance lease assets and obligations in the Company's Condensed Consolidated Balance Sheet as of September 30, 2019:



(in millions)		September 30, 2019
Assets
Operating lease assets	Operating lease right-of-use assets	$	227.2
Finance lease assets	Property, plant and equipment, net	55.4
Total leased assets		$	282.6

Liabilities
Short-term:
Operating lease obligations	Accrued expenses and other current liabilities	$	49.7
Finance lease obligations	Current portion of long-term debt	8.0
Long-term:
Operating lease obligations	Long-term operating lease obligations	186.2
Finance lease obligations	Long-term debt, net	57.0
Total lease obligations		$	300.9

The following table summarizes the classification of lease expense in the Company's Condensed Consolidated Statement of Income for the three and nine months ended September 30, 2019:



	Three Months Ended		Nine Months Ended
(in millions)	September 30, 2019		September 30, 2019
Operating lease expense ⁽¹⁾	$	24.0	$	65.2
Finance lease expense:
Amortization of right-of-use assets	2.1		6.3
Interest on lease obligations	1.2		3.6
Total lease expense	$	27.3	$	75.1



(1)	Includes short-term leases and variable lease expenses, which are immaterial.

The following table sets forth the scheduled maturities of lease obligations as of September 30, 2019:



(in millions)	Operating Leases		Finance Leases		Total
Year Ended December 31,
2019 (excluding the nine months ended September 30, 2019)	$	16.0	$	3.0	$	19.0
2020	58.5		11.9		70.4
2021	50.2		11.7		61.9
2022	42.4		9.6		52.0
2023	32.6		7.7		40.3
Thereafter	77.3		43.9		121.2
Total lease payments	277.0		87.8		364.8
Less: Interest	41.1		22.8		63.9
Present value of lease obligations	$	235.9	$	65.0	$	300.9

The following table provides lease term and discount rate information related to operating and finance leases as of September 30, 2019:



	September 30, 2019
Weighted average remaining lease term (years):
Operating leases	5.78
Finance leases	9.38

Weighted average discount rate:
Operating leases	5.47	%
Finance leases	6.29	%

The following table provides supplemental information related to the Company's Condensed Consolidated Statement of Cash Flows for the nine months ended September 30, 2019:



	Nine Months Ended
(in millions)	September 30, 2019
Cash paid for amounts included in the measurement of lease obligations:
Operating cash flows paid for operating leases	$	42.5
Financing cash flows paid for finance leases	5.9

Right-of-use assets obtained in exchange for new operating lease obligations	$	66.1

Stockholders' Equity

9 Months Ended

Sep. 30, 2019

Stockholders' Equity Note [Abstract]

Stockholders' Equity

(a) Common and Preferred Stock. Tempur Sealy International has 300.0 million authorized shares of common stock with $0.01 per share par value and 10.0 million authorized shares of preferred stock with $0.01 per share par value. The holders of 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 Company's Board of Directors (the "Board") out of funds legally available for that purpose. In the event of liquidation, dissolution or winding up, 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 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, which may include, among others, dividend rights, voting rights, redemption and sinking fund provisions, liquidation preferences, conversion rights and preemptive rights.

(b) Treasury Stock. As of September 30, 2019, the Company had approximately $174.6 million remaining under the existing share repurchase authorization for repurchases of Tempur Sealy International's common stock. The Company repurchased 0.7 million shares for approximately $50.0 million and 0.7 million shares for approximately $52.3 million during the three and nine months ended September 30, 2019, respectively. The Company did not repurchase any shares during the three and nine months ended September 30, 2018.

In addition, the Company acquired an insignificant amount of shares upon the vesting of certain restricted stock units ("RSUs"), which were withheld to satisfy tax withholding obligations during each of the three and nine months ended September 30, 2019 and 2018. The shares withheld were valued at the closing price of the stock on the New York Stock Exchange on the vesting date or first business day prior to vesting, resulting in approximately $0.0 million and $0.5 million in treasury stock acquired during the three months ended September 30, 2019 and 2018, respectively. The Company acquired approximately $3.2 million and $3.5 million in treasury stock during the nine months ended September 30, 2019 and 2018, respectively.



	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(in millions)	2019			2018			2019			2018
Foreign Currency Translation
Balance at beginning of period	$	(84.7	)	$	(83.9	)	$	(91.7	)	$	(72.8	)
Other comprehensive loss:
Foreign currency translation adjustments ⁽¹⁾	(6.7		)	2.4			0.3			(8.7		)
Balance at end of period	$	(91.4	)	$	(81.5	)	$	(91.4	)	$	(81.5	)

Pensions
Balance at beginning of period	$	(3.6	)	$	(3.3	)	$	(3.6	)	$	(2.7	)
Other comprehensive loss:
Net change from period revaluations, net of tax	—			—			—			—
Tax expense ⁽²⁾	—			—			—			—
Total other comprehensive income before reclassifications, net of tax	$	—		$	—		$	—		$	—
Net amount reclassified to earnings ⁽¹⁾	—			—			—			—
U.S. tax reform - reclassification to retained earnings upon adoption of ASU No. 2018-02	—			—			—			(0.5		)
Tax benefit ⁽²⁾	—			—			—			(0.1		)
Total amount reclassified from accumulated other comprehensive loss, net of tax	$	—		$	—		$	—		$	(0.6	)
Total other comprehensive loss	—			—			—			(0.6		)
Balance at end of period	$	(3.6	)	$	(3.3	)	$	(3.6	)	$	(3.3	)



(1)	In 2019 and 2018, there were no tax impacts related to foreign currency translation adjustments and no amounts were reclassified to earnings.
(2)	These amounts were included in the income tax provision in the accompanying Condensed Consolidated Statements of Income.

Stock-Based Compensation

9 Months Ended

Sep. 30, 2019

Share-based Payment Arrangement [Abstract]

Stock-Based Compensation

The Company’s stock-based compensation expense for the three and nine months ended September 30, 2019 and 2018 included performance restricted stock units ("PRSUs"), non-qualified stock options, RSUs and deferred stock units ("DSUs"). A summary of the Company’s stock-based compensation expense is presented in the following table:



	Three Months Ended September 30,				Nine Months Ended September 30,
(in millions)	2019		2018		2019		2018
PRSU expense	$	0.3	$	0.7	$	1.0	$	2.2
Option expense	1.3		1.6		3.7		5.4
RSU/DSU expense	5.2		4.2		15.3		12.0
Total stock-based compensation expense	$	6.8	$	6.5	$	20.0	$	19.6

The Company grants PRSUs to executive officers and certain members of management. Actual payout under the PRSUs is dependent upon the achievement of certain financial goals.

In March 2019, the Compensation Committee of the Board formally determined that the Company did not meet the performance metric of $650.0 million of adjusted earnings before interest, tax, depreciation and amortization ("Adjusted EBITDA") for payout under the PRSUs granted in 2017 (the "2017 Aspirational Plan PRSUs"). As a result, the remaining one-third of the 2017 Aspirational Plan PRSUs previously granted with a performance period for 2018 were forfeited as of this date.

At September 30, 2019, the Company had 1.6 million PRSUs granted in 2018 outstanding that will vest if the Company achieves a certain level of Adjusted EBITDA during four consecutive fiscal quarters as described below (the "2019 Aspirational Plan PRSUs"). The 2019 Aspirational Plan PRSUs will vest based on the highest Adjusted EBITDA for any four consecutive fiscal quarter period ending between (and including) March 31, 2018 and December 31, 2019 (the "First Designated Period"). If the highest Adjusted EBITDA in the First Designated Period is $600.0 million, 66% will vest; if the highest Adjusted EBITDA equals or exceeds $650.0 million, then 100% will vest; if the highest Adjusted EBITDA is between $600.0 million and $650.0 million then a pro rata portion will vest; and if the highest Adjusted EBITDA is less than $600.0 million then one-half of the 2019 Aspirational Plan PRSUs will no longer be available for vesting based on performance and the remaining one-half will remain available for vesting based on the highest Adjusted EBITDA in any four consecutive fiscal quarter period ending between (and including) March 31, 2020 and December 31, 2020 (the "Second Designated Period"). If the highest Adjusted EBITDA in the Second Designated Period is $600.0 million then 66% of the remaining 2019 Aspirational Plan PRSUs will vest; if the Adjusted EBITDA is $650.0 million or more 100% will vest; if Adjusted EBITDA is between $600.0 million and $650.0 million then a pro rata portion will vest; and if Adjusted EBITDA is below $600.0 million then all of the remaining 2019 Aspirational Plan PRSUs will be forfeited. Adjusted EBITDA is defined for purposes of the 2019 Aspirational PRSUs as the Company’s "Consolidated EBITDA" as such term is defined in the 2016 Credit Agreement.

The Company did not record any stock-based compensation expense related to the 2019 Aspirational Plan PRSUs during the three and nine months ended September 30, 2019, as it is not considered probable that the Company will achieve the specified performance target for either the First Designated Period or Second Designated Period. The Company will continue to evaluate the probability of achieving the performance condition in future periods and record the appropriate expense if necessary. 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 the First Designated Period is $93.2 million, which would be a non-cash expense over the remaining service period if achievement of the performance condition becomes probable.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective tax rate for the three months ended September 30, 2019 and 2018 was 26.5% and 26.1%, respectively. The Company’s effective tax rate for the nine months ended September 30, 2019 and 2018 was 29.0% and 26.3%, respectively. The Company's effective tax rate for the three and nine months ended September 30, 2019 and 2018 differed from the U.S. federal statutory rate of 21.0% principally due to subpart F income (i.e., GILTI earned by the Company’s foreign subsidiaries), certain foreign income tax rate differentials, state and local taxes, changes in the Company’s uncertain tax positions, the excess tax deficiency (or benefit) related to stock-based compensation and certain other permanent items. The Company has been involved in a dispute with the Danish Tax Authority ("SKAT") regarding the royalty paid by a U.S. subsidiary of Tempur Sealy International to a Danish subsidiary (the "Danish Tax Matter") for tax years 2001 through current. 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 process. During 2018, the Company reached agreements with both SKAT and the U.S. Internal Revenue Service ("IRS") (the "Settlement") with respect to the adjusted amount of royalties for tax years 2001 through 2011. The Company and SKAT are currently discussing the appropriate administrative process required to implement the Settlement as it relates to both tax and interest. During this process, the Company continues to maintain a liability on its balance sheet for tax and interest under the terms of the Settlement. At September 30, 2019 and December 31, 2018, the Danish liability related to the Settlement is DKK 847.3 million (approximately $123.7 million and $130.0 million using the applicable exchange rates at September 30, 2019 and December 31, 2018, respectively) and is included in accrued expenses and other current liabilities within the Company’s Condensed Consolidated Balance Sheet. At September 30, 2019 and December 31, 2018, respectively the Company had on deposit with SKAT DKK 970.1 million (approximately $141.6 million using the applicable exchange rate at September 30, 2019) and DKK 962.3 million (approximately $147.7 million using the applicable exchange rate at December 31, 2018) for the satisfaction of the anticipated liability for both tax and interest once the administrative process is concluded. The deposit held by SKAT is included in "Prepaid expenses and other current assets" within the Company's Condensed Consolidated Balance Sheet. SKAT has issued preliminary income tax assessments for the years 2012 through 2017, asserting an increase in the royalty earned by the Danish subsidiary. The Company expects to continue to receive preliminary income tax assessments from SKAT for the tax years 2018 and forward, asserting the royalties paid by the U.S. to the Danish subsidiary were too low, which the Company disputes.The Company entered into the Advance Pricing Agreement program (the "APA Program") for the tax years 2012 through 2022 (the "Post-2011 Years") in which the IRS, on the Company’s behalf, will negotiate directly with SKAT for a mutually agreeable royalty due from the U.S. subsidiary to the Danish Subsidiary (the "APA"). That APA is in the early stages of negotiations. Such negotiations are not expected to be concluded in the near term. The Company anticipates such negotiations will result in an increase in the amount of royalties due from the U.S subsidiary to the Danish subsidiary (the "Post-2011 Years Adjustment") for the years 2012 - 2018 as well as the nine month period ended September 30, 2019 (the "2012 to Current Period"). It is expected that the Post-2011 Years Adjustment will result in additional income tax in Denmark and a reduction of tax in the United States for the 2012 to Current Period. Consequently, the Company maintains an uncertain income tax liability for its estimate of the potential Danish income tax liability and a deferred tax asset for the associated United States tax benefit for the Post-2011 Years Adjustment. As of September 30, 2019 and December 31, 2018, the Company had accrued Danish tax and interest for Post-2011 Years of approximately DKK 256.9 million and DKK 230.3 million ($37.5 million and $35.3 million using the applicable exchange rates at September 30, 2019 and December 31, 2018, respectively) as an uncertain income tax liability, which is included in other non-current liabilities on the Company's Condensed Consolidated Balance Sheet as of September 30, 2019 and December 31, 2018. The deferred tax asset for the U.S. correlative benefit associated with the accrual of Danish tax for the Post-2011 Years as of September 30, 2019 and December 31, 2018 is approximately $6.7 million and $4.2 million, respectively. The Company’s uncertain income tax position associated with the Danish Tax Matter is derived using the cumulative probability analysis 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. Both the uncertain income tax position and the deferred tax asset discussed herein reflects the Company’s best judgment of the facts, circumstances and information available through September 30, 2019. If the Company is not successful in resolving the Danish Tax Matter for the Post-2011 Years or there is a change in facts and circumstances, the Company may be required to further increase its uncertain income tax position associated with this matter, or decrease its deferred tax asset, also related to this matter, which could have a material impact on the Company's reported earnings. The amount of unrecognized tax benefits that would impact the effective tax rate if recognized at September 30, 2019 and December 31, 2018 would be $94.0 million and $91.4 million (exclusive of interest and penalties and translated at the applicable exchange rates), respectively. Interest and penalties related to unrecognized tax benefits are recorded in income tax expense. It is reasonably possible that there could be material changes to the amount of uncertain income tax positions due to activities of the taxing authorities, settlement of audit issues, reassessment of existing uncertain tax positions, including the Danish tax matter, or the expiration of applicable statute of limitations; however, the Company is not able to estimate the impact of these items at this time.

Business Segment Information

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Business Segment Information

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 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 Condensed Consolidated Financial Statements. The remaining inter-segment eliminations are comprised of intercompany accounts receivable and payable.

The following table summarizes total assets by segment:



(in millions)	September 30, 2019			December 31, 2018
North America	$	3,187.8		$	2,788.1
International	605.8			604.8
Corporate	503.3			569.0
Inter-segment eliminations	(1,193.8		)	(1,246.5		)
Total assets	$	3,103.1		$	2,715.4

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



(in millions)	September 30, 2019		December 31, 2018
North America	$	326.6	$	317.5
International	49.9		51.1
Corporate	55.0		52.2
Total property, plant and equipment, net	$	431.5	$	420.8

The following table summarizes segment information for the three months ended September 30, 2019:



(in millions)	North America		International			Corporate			Eliminations			Consolidated
Net sales	$	682.0	$	139.0		$	—		$	—		$	821.0

Inter-segment sales	$	0.6	$	—		$	—		$	(0.6	)	$	—
Inter-segment royalty expense (income)	1.2		(1.2		)	—			—			—
Gross profit	286.8		73.8			—			—			360.6
Operating income (loss)	119.8		27.3			(26.5		)	—			120.6
Income (loss) from continuing operations before income taxes	117.8		24.0			(43.3		)	—			98.5

Depreciation and amortization ⁽¹⁾	$	17.1	$	3.4		$	9.5		$	—		$	30.0
Capital expenditures	15.0		2.0			5.0			—			22.0


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

The following table summarizes segment information for the three months ended September 30, 2018:



(in millions)	North America		International			Corporate			Eliminations			Consolidated
Net sales	$	595.8	$	133.7		$	—		$	—		$	729.5

Inter-segment sales	$	1.1	$	0.2		$	—		$	(1.3	)	$	—
Inter-segment royalty expense (income)	0.9		(0.9		)	—			—			—
Gross profit	229.2		70.8			—			—			300.0
Operating income (loss)	81.9		25.8			(23.0		)	—			84.7
Income (loss) from continuing operations before income taxes	78.5		23.5			(42.3		)	—			59.7

Depreciation and amortization ⁽¹⁾	$	16.6	$	3.3		$	10.0		$	—		$	29.9
Capital expenditures	11.2		2.9			1.2			—			15.3


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

The following table summarizes segment information for the nine months ended September 30, 2019:



(in millions)	North America		International			Corporate			Eliminations			Consolidated
Net sales	$	1,814.1	$	420.6		$	—		$	—		$	2,234.7

Inter-segment sales	$	2.5	$	0.4		$	—		$	(2.9	)	$	—
Inter-segment royalty expense (income)	3.2		(3.2		)	—			—			—
Gross profit	731.2		224.6			—			—			955.8
Operating income (loss)	264.2		79.9			(82.0		)	—			262.1
Income (loss) from continuing operations before income taxes	258.8		77.0			(132.9		)	—			202.9

Depreciation and amortization ⁽¹⁾	$	47.7	$	10.2		$	28.8		$	—		$	86.7
Capital expenditures	42.3		8.0			11.6			—			61.9


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

The following table summarizes segment information for the nine months ended September 30, 2018:



(in millions)	North America		International			Corporate			Eliminations			Consolidated
Net sales	$	1,608.6	$	418.2		$	—		$	—		$	2,026.8

Inter-segment sales	$	2.3	$	0.4		$	—		$	(2.7	)	$	—
Inter-segment royalty expense (income)	2.2		(2.2		)	—			—			—
Gross profit	616.7		220.8			—			—			837.5
Operating income (loss)	200.1		75.5			(77.2		)	—			198.4
Income (loss) from continuing operations before income taxes	193.7		71.0			(134.0		)	—			130.7

Depreciation and amortization ⁽¹⁾	$	43.8	$	10.2		$	30.8		$	—		$	84.8
Capital expenditures	42.1		8.9			4.8			—			55.8


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

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



(in millions)	September 30, 2019		December 31, 2018
United States	$	363.8	$	350.7
Canada	17.8		19.1
Other International	49.9		51.0
Total property, plant and equipment, net	$	431.5	$	420.8
Total International	$	67.7	$	70.1

The following table summarizes net sales by geographic region:



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)	2019		2018		2019		2018
United States	$	621.4	$	536.8	$	1,652.3	$	1,454.6
Canada	60.6		59.0		161.8		154.0
Other International	139.0		133.7		420.6		418.2
Total net sales	$	821.0	$	729.5	$	2,234.7	$	2,026.8
Total International	$	199.6	$	192.7	$	582.4	$	572.2

Guarantor/Non-Guarantor Financial Information

9 Months Ended

Sep. 30, 2019

Condensed Financial Information Disclosure [Abstract]

Guarantor/Non-Guarantor Financial Information

The $450.0 million and $600.0 million aggregate principal amount of 2023 Senior Notes and 2026 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"), subject to certain exceptions. 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 2016 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 supplemental financial information presents the Condensed Consolidated Statements of Income and Comprehensive Income for the three and nine months ended September 30, 2019 and 2018, the Condensed Consolidated Balance Sheets as of September 30, 2019 and December 31, 2018, and the Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2019 and 2018 for Tempur Sealy International, Combined Guarantor Subsidiaries and Combined Non-Guarantor Subsidiaries.

Supplemental Condensed Consolidated Statements of Income and Comprehensive Income

Three Months Ended September 30, 2019

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net sales	$	—		$	641.9		$	200.1		$	(21.0	)	$	821.0
Cost of sales	—			366.5			114.9			(21.0		)	460.4
Gross profit	—			275.4			85.2			—			360.6
Selling and marketing expenses	2.8			119.8			46.0			—			168.6
General, administrative and other expenses	4.3			57.1			14.2			(0.3		)	75.3
Equity income in earnings of unconsolidated affiliates	—			—			(3.9		)	—			(3.9		)
Operating (loss) income	(7.1		)	98.5			28.9			0.3			120.6

Other expense (income), net:
Third party interest expense, net	14.0			6.4			0.4			—			20.8
Intercompany interest (income) expense, net	(2.4		)	3.4			(1.0		)	—			—
Interest expense (income), net	11.6			9.8			(0.6		)	—			20.8
Other expense (income), net	—			1.5			(1.4		)	1.2			1.3
Total other expense (income), net	11.6			11.3			(2.0		)	1.2			22.1

Income from equity investees	88.8			21.6			—			(110.4		)	—

Income from continuing operations before income taxes	70.1			108.8			30.9			(111.3		)	98.5
Income tax benefit (provision)	3.1			(20.0		)	(9.3		)	0.1			(26.1		)
Income from continuing operations	73.2			88.8			21.6			(111.2		)	72.4
Income from discontinued operations, net of tax	—			—			—			0.8			0.8
Net income before non-controlling interest	73.2			88.8			21.6			(110.4		)	73.2
Less: Net loss attributable to non-controlling interest	(0.1		)	—			(0.1		)	0.1			(0.1		)
Net income attributable to Tempur Sealy International, Inc.	$	73.3		$	88.8		$	21.7		$	(110.5	)	$	73.3

Comprehensive income attributable to Tempur Sealy International, Inc.	$	66.6		$	92.8		$	11.0		$	(103.8	)	$	66.6

Supplemental Condensed Consolidated Statements of Income and Comprehensive Income

Three Months Ended September 30, 2018

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net sales	$	—		$	556.6		$	197.4		$	(24.5	)	$	729.5
Cost of sales	—			338.6			114.1			(23.2		)	429.5
Gross profit	—			218.0			83.3			(1.3		)	300.0
Selling and marketing expenses	2.2			98.2			48.1			(2.6		)	145.9
General, administrative and other expenses	4.6			56.3			13.8			(1.5		)	73.2
Equity income in earnings of unconsolidated affiliates	—			—			(3.8		)	—			(3.8		)
Operating (loss) income	(6.8		)	63.5			25.2			2.8			84.7

Other expense, net:
Third party interest expense, net	14.9			7.8			1.1			(0.2		)	23.6
Intercompany interest (income) expense, net	(1.7		)	3.3			(1.6		)	—			—
Interest expense (income), net	13.2			11.1			(0.5		)	(0.2		)	23.6
Other (income) expense, net	—			(1.5		)	2.5			0.4			1.4
Total other expense, net	13.2			9.6			2.0			0.2			25.0

Income (loss) from equity investees	57.8			(14.9		)	—			(42.9		)	—

Income from continuing operations before income taxes	37.8			39.0			23.2			(40.3		)	59.7
Income tax benefit (provision)	3.6			18.8			(38.1		)	0.1			(15.6		)
Income (loss) from continuing operations	41.4			57.8			(14.9		)	(40.2		)	44.1
Loss from discontinued operations, net of tax	—			—			—			(2.7		)	(2.7		)
Net income (loss) before non-controlling interest	41.4			57.8			(14.9		)	(42.9		)	41.4
Less: Net loss attributable to non-controlling interest	(0.9		)	(0.8		)	(0.1		)	0.9			(0.9		)
Net income (loss) attributable to Tempur Sealy International, Inc.	$	42.3		$	58.6		$	(14.8	)	$	(43.8	)	$	42.3

Comprehensive income (loss) attributable to Tempur Sealy International, Inc.	$	44.7		$	58.6		$	(12.4	)	$	(46.2	)	$	44.7

Supplemental Condensed Consolidated Statements of Income and Comprehensive Income

Nine Months Ended September 30, 2019

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Reclassifications and Eliminations				Consolidated
Net sales	$	—		$	1,706.3		$	581.3		$	(52.9	)		$	2,234.7
Cost of sales	—			1,001.1			330.7			(52.9		)		1,278.9
Gross profit	—			705.2			250.6			—				955.8
Selling and marketing expenses	8.4			335.9			141.2			(0.1		)		485.4
General, administrative and other expenses	12.8			165.4			42.6			(2.1		)		218.7
Equity income in earnings of unconsolidated affiliates	—			—			(10.4		)	—				(10.4		)
Operating (loss) income	(21.2		)	203.9			77.2			2.2				262.1
														—
Other expense (income), net:
Third party interest expense, net	42.2			21.0			2.5			—				65.7
Intercompany interest (income) expense, net	(7.5		)	8.8			(1.3		)	—				—
Interest expense, net	34.7			29.8			1.2			—				65.7
Other income, net	—			(5.1		)	(2.9		)	1.5			—	(6.5		)
Total other expense (income), net	34.7			24.7			(1.7		)	1.5				59.2

Income from equity investees	189.3			58.0			—			(247.3		)		—

Income from continuing operations before income taxes	133.4			237.2			78.9			(246.6		)		202.9
Income tax benefit (provision)	9.9			(47.9		)	(20.9		)	0.1				(58.8		)
Income from continuing operations	143.3			189.3			58.0			(246.5		)		144.1
Loss from discontinued operations, net of tax	—			—			—			(0.8		)		(0.8		)
Net income attributable to Tempur Sealy International, Inc.	$	143.3		$	189.3		$	58.0		$	(247.3	)		$	143.3

Comprehensive income attributable to Tempur Sealy International, Inc.	$	143.6		$	194.8		$	52.8		$	(247.6	)		$	143.6

Supplemental Condensed Consolidated Statements of Income and Comprehensive Income

Nine Months Ended September 30, 2018

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net sales	$	—		$	1,507.6		$	594.3		$	(75.1	)	$	2,026.8
Cost of sales	—			918.0			338.5			(67.2		)	1,189.3
Gross profit	—			589.6			255.8			(7.9		)	837.5
Selling and marketing expenses	6.3			296.5			152.0			(10.2		)	444.6
General, administrative and other expenses	14.3			154.0			42.5			(4.8		)	206.0
Equity income in earnings of unconsolidated affiliates	—			—			(11.5		)	—			(11.5		)
Operating (loss) income	(20.6		)	139.1			72.8			7.1			198.4

Other expense, net:
Third party interest expense, net	44.7			22.3			4.2			(1.7		)	69.5
Intercompany interest (income) expense, net	(5.3		)	7.8			(2.5		)	—			—
Interest expense, net	39.4			30.1			1.7			(1.7		)	69.5
Other (income) expense, net	—			(7.1		)	7.4			(2.1		)	(1.8		)
Total other expense, net	39.4			23.0			9.1			(3.8		)	67.7

Income from equity investees	134.1			15.1			—			(149.2		)	—

Income from continuing operations before income taxes	74.1			131.2			63.7			(138.3		)	130.7
Income tax benefit (provision)	11.3			2.9			(48.6		)	—			(34.4		)
Income from continuing operations	85.4			134.1			15.1			(138.3		)	96.3
Loss from discontinued operations, net of tax	—			—			—			(10.9		)	(10.9		)
Net income before non-controlling interest	85.4			134.1			15.1			(149.2		)	85.4
Less: Net loss attributable to non-controlling interest	(2.8		)	(2.6		)	(0.2		)	2.8			(2.8		)
Net income attributable to Tempur Sealy International, Inc.	$	88.2		$	136.7		$	15.3		$	(152.0	)	$	88.2

Comprehensive income attributable to Tempur Sealy International, Inc.	$	78.9		$	136.1		$	6.6		$	(142.7	)	$	78.9

Supplemental Condensed Consolidated Balance Sheets

September 30, 2019

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Reclassifications and Eliminations			Consolidated
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	14.2	$	38.7	$	—		$	52.9
Accounts receivable, net	1.0		23.1		379.2		27.9			431.2
Inventories	—		210.5		60.3		—			270.8
Prepaid expenses and other current assets	289.0		66.3		136.7		(286.4		)	205.6
Total Current Assets	290.0		314.1		614.9		(258.5		)	960.5
Property, plant and equipment, net	—		363.8		67.7		—			431.5
Goodwill	—		512.1		218.3		—			730.4
Other intangible assets, net	—		567.7		76.3		—			644.0
Operating lease right-of-use assets	—		179.6		47.6		—			227.2
Deferred income taxes	13.6		—		13.6		(13.6		)	13.6
Other non-current assets	3.8		52.5		39.6		—			95.9
Net investment in subsidiaries	819.7		317.5		—		(1,137.2		)	—
Due from affiliates	382.7		135.1		24.3		(542.1		)	—
Total Assets	$	1,509.8	$	2,442.4	$	1,102.3	$	(1,951.4	)	$	3,103.1

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	—	$	194.7	$	53.6	$	27.9		$	276.2
Accrued expenses and other current liabilities	21.4		250.3		214.7		—			486.4
Current portion of long-term debt	—		56.7		3.4		—			60.1
Income taxes payable	—		296.4		15.3		(286.4		)	25.3
Total Current Liabilities	21.4		798.1		287.0		(258.5		)	848.0
Long-term debt, net	1,044.0		431.3		34.2		—			1,509.5
Long-term operating lease obligations	—		152.8		33.4		—			186.2
Deferred income taxes	—		108.6		15.1		(13.6		)	110.1
Other non-current liabilities	—		56.7		56.1		—			112.8
Due to affiliates	107.9		75.2		359.0		(542.1		)	—
Total Liabilities	1,173.3		1,622.7		784.8		(814.2		)	2,766.6

Total Stockholders' Equity	336.5		819.7		317.5		(1,137.2		)	336.5
Total Liabilities and Stockholders’ Equity	$	1,509.8	$	2,442.4	$	1,102.3	$	(1,951.4	)	$	3,103.1

Supplemental Condensed Consolidated Balance Sheets

December 31, 2018

(in millions)



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

Current Assets:
Cash and cash equivalents	$	0.1	$	6.2	$	39.5	$	—		$	45.8
Accounts receivable, net	—		15.2		303.3		3.0			321.5
Inventories	—		159.4		62.9		—			222.3
Prepaid expenses and other current assets	276.9		65.4		148.1		(274.6		)	215.8
Total Current Assets	277.0		246.2		553.8		(271.6		)	805.4
Property, plant and equipment, net	—		350.7		70.1		—			420.8
Goodwill	—		508.8		214.2		—			723.0
Other intangible assets, net	—		572.7		76.6		—			649.3
Deferred income taxes	15.0		—		22.6		(15.0		)	22.6
Other non-current assets	—		49.2		45.1		—			94.3
Net investment in subsidiaries	661.7		210.0		—		(871.7		)	—
Due from affiliates	422.1		153.8		15.4		(591.3		)	—
Total Assets	$	1,375.8	$	2,091.4	$	997.8	$	(1,749.6	)	$	2,715.4

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:
Accounts payable	$	—	$	186.7	$	63.3	$	3.0		$	253.0
Accrued expenses and other current liabilities	6.7		143.9		208.6		—			359.2
Current portion of long-term debt	—		44.0		3.1		—			47.1
Income taxes payable	—		274.7		9.6		(274.6		)	9.7
Total Current Liabilities	6.7		649.3		284.6		(271.6		)	669.0
Long-term debt, net	1,043.0		547.1		9.0		—			1,599.1
Deferred income taxes	—		118.0		14.5		(15.0		)	117.5
Other non-current liabilities	1.9		58.2		52.2		—			112.3
Due to affiliates	106.7		57.1		427.5		(591.3		)	—
Total Liabilities	1,158.3		1,429.7		787.8		(877.9		)	2,497.9

Total Stockholders' Equity	217.5		661.7		210.0		(871.7		)	217.5
Total Liabilities and Stockholders’ Equity	$	1,375.8	$	2,091.4	$	997.8	$	(1,749.6	)	$	2,715.4

Supplemental Condensed Consolidated Statements of Cash Flows

Nine Months Ended September 30, 2019 (in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net cash (used in) provided by operating activities from continuing operations	$	(22.0	)	$	215.1		$	6.9		$	1.7		$	201.7

CASH FLOWS FROM INVESTING ACTIVITIES FROM CONTINUING OPERATIONS:
Purchases of property, plant and equipment	—			(53.5		)	(8.4		)	—			(61.9		)
Acquisitions, net of cash acquired	—			(9.0		)	(8.1		)	—			(17.1		)
Other	—			4.8			10.2			—			15.0
Contributions (paid to) received from subsidiaries and affiliates	—			(58.1		)	58.1			—			—
Net cash (used in) provided by investing activities from continuing operations	—			(115.8		)	51.8			—			(64.0		)

CASH FLOWS FROM FINANCING ACTIVITIES FROM CONTINUING OPERATIONS:
Proceeds from borrowings under long-term debt obligations	—			161.9			440.6			—			602.5
Repayments of borrowings under long-term debt obligations	—			(263.2		)	(415.3		)	—			(678.5		)
Net activity in investment in and advances from (to) subsidiaries and affiliates	64.6			16.0			(80.6		)	—			—
Excess tax benefit from stock-based compensation	12.8			—			—			—			12.8
Treasury stock repurchased	(55.5		)	—			—			—			(55.5		)
Payments of deferred financing costs	—			—			(0.1		)	—			(0.1		)
Other	—			(6.0		)	—			—			(6.0		)
Net cash provided by (used in) financing activities from continuing operations	21.9			(91.3		)	(55.4		)	—			(124.8		)

Net cash (used in) provided by continuing operations	(0.1		)	8.0			3.3			1.7			12.9

CASH USED IN DISCONTINUED OPERATIONS
Operating cash flows, net	—			—			—			(1.7		)	(1.7		)
Investing cash flows, net	—			—			—			—			—
Financing cash flows, net	—			—			—			—			—
Net cash used in discontinued operations	—			—			—			(1.7		)	(1.7		)

NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(4.1		)	—			(4.1		)
(Decrease)/increase in cash and cash equivalents	(0.1		)	8.0			(0.8		)	—			7.1
CASH AND CASH EQUIVALENTS, beginning of period	0.1			6.2			39.5			—			45.8
CASH AND CASH EQUIVALENTS, end of period	$	—		$	14.2		$	38.7		$	—		$	52.9

Supplemental Condensed Consolidated Statements of Cash Flows

Nine Months Ended September 30, 2018

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net cash (used in) provided by operating activities from continuing operations	$	(28.4	)	$	132.7		$	8.7		$	17.6		$	130.6

CASH FLOWS FROM INVESTING ACTIVITIES FROM CONTINUING OPERATIONS:
Purchases of property, plant and equipment	—			(46.4		)	(9.6		)	0.2			(55.8		)
Contributions (paid to) received from subsidiaries and affiliates	—			(83.6		)	83.6			—			—
Other	—			0.1			0.2			—			0.3
Net cash (used in) provided by investing activities from continuing operations	—			(129.9		)	74.2			0.2			(55.5		)

CASH FLOWS FROM FINANCING ACTIVITIES FROM CONTINUING OPERATIONS:
Proceeds from borrowings under long-term debt obligations	—			335.6			527.4			—			863.0
Repayments of borrowings under long-term debt obligations	—			(358.1		)	(564.6		)	—			(922.7		)
Net activity in investment in and advances from (to) subsidiaries and affiliates	27.6			21.7			(49.3		)	—			—
Proceeds from exercise of stock options	4.2			—			—			—			4.2
Treasury stock repurchased	(3.5		)	—			—			—			(3.5		)
Other	—			(3.8		)	(0.9		)	—			(4.7		)
Net cash provided by (used in) financing activities from continuing operations	28.3			(4.6		)	(87.4		)	—			(63.7		)

Net cash (used in) provided by continuing operations	(0.1		)	(1.8		)	(4.5		)	17.8			11.4

CASH USED IN DISCONTINUED OPERATIONS
Operating cash flows, net	—			—			—			(17.6		)	(17.6		)
Investing cash flows, net	—			—			—			(0.2		)	(0.2		)
Financing cash flows, net	—			—			—			—			—
Net cash used in discontinued operations	—			—			—			(17.8		)	(17.8		)

NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(2.1		)	—			(2.1		)
Decrease in cash and cash equivalents	(0.1		)	(1.8		)	(6.6		)	—			(8.5		)
CASH AND CASH EQUIVALENTS, beginning of period	0.1			12.3			29.5			—			41.9
CASH AND CASH EQUIVALENTS, end of period	—			10.5			22.9			—			33.4
LESS: CASH AND CASH EQUIVALENTS OF DISCONTINUED OPERATIONS	—			—			1.3			—			1.3
CASH AND CASH EQUIVALENTS OF CONTINUING OPERATIONS	$	—		$	10.5		$	21.6		$	—		$	32.1

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2019
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. 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: Wholesale and Direct. The Company has ownership interests in a group of Asia-Pacific joint ventures to develop markets for Sealy® branded products in those regions. The Company’s ownership interest in these joint ventures is 50.0%. The equity method of accounting is used for these joint ventures, over which the Company has significant influence but does not have control, and consolidation is not otherwise required. The Company's carrying value in its equity method investments of $17.3 million and $22.5 million at September 30, 2019 and December 31, 2018, respectively, is recorded in other non-current assets within the accompanying Condensed Consolidated Balance Sheets. The Company’s equity in the net income and losses of these investments is recorded as equity income in earnings of unconsolidated affiliates in the accompanying Condensed Consolidated Statements of Income. The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and include all of the information and disclosures required by generally accepted accounting principles in the United States ("GAAP") for interim financial reporting. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements of the Company and related footnotes for the year ended December 31, 2018, included in the 2018 Annual Report filed with the Securities and Exchange Commission on February 25, 2019. The results of operations for the interim periods are not necessarily indicative of results of operations for a full year. It is the opinion of management that all necessary adjustments for a fair presentation of the results of operations for the interim periods have been made and are of a recurring nature unless otherwise disclosed herein.
Adoption of New Accounting Standards	Adoption of New Accounting Standards. Leases. Effective January 1, 2019, the Company adopted Accounting Standards Codification 842, Leases ("ASC 842"). ASC 842 consists of a comprehensive lease accounting standard requiring most leases to be recognized on the Condensed Consolidated Balance Sheet and significant new disclosures. The Company determines if an arrangement contains a lease at inception based on whether or not the Company has the right to control the asset during the contract period and other facts and circumstances. The Company elected the package of practical expedients permitted under the transition guidance within the new standard, which among other things, allowed it to carry forward the historical lease classification. Operating lease right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease, both of which are recognized based on the present value of the future minimum lease payments over the lease term at the commencement date. Leases with a lease term of 12 months or less at inception are not recorded within the Condensed Consolidated Balance Sheet and are expensed on a straight-line basis over the lease term within the Condensed Consolidated Statement of Income. The lease term is determined by assuming the exercise of renewal options that are reasonably certain. As most leases do not provide an implicit interest rate, the Company used its incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. When contracts contain lease and non-lease components, the Company generally accounts for both components as a single lease component. The adoption of ASC 842 resulted in the recognition of right-of-use assets of $197.2 million and operating lease liabilities of $203.3 million as of January 1, 2019. Results for reporting periods beginning prior to January 1, 2019 continue to be reported in accordance with our historical accounting treatment. The adoption of ASC 842 did not have a material impact on the Company's results of operations, cash flows or debt covenants. For additional information, see Note 8, "Leases" of the Condensed Consolidated Financial Statements. Recently Issued Accounting Pronouncements Credit Losses In June 2016, the FASB issued ("ASU") No. 2016-13, Financial Instruments - Credit Losses (Topic 326), which requires entities to estimate expected lifetime credit losses on financial assets and provide expanded disclosures. This ASU is effective on January 1, 2020. In transition, entities are required to use a modified retrospective approach for the adoption of the new standard. The ASU replaces the incurred loss impairment methodology with one that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company is currently evaluating this ASU to determine the impact it will have on the Company's Condensed Consolidated Financial Statements and does not expect it will have a material impact on the consolidated financial statements or disclosures.
Inventories	Inventories. Inventories are stated at the lower of cost and net realizable value, determined by the first-in, first-out method
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. Accrued sales returns are included in accrued expenses and other current liabilities in the accompanying Condensed Consolidated Balance Sheets.
Warranties	Warranties. The Company provides warranties on certain products, which vary 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. The Company considers the impact of recoverable salvage value on warranty costs in determining its estimate of future warranty obligations. The Company provides warranties on mattresses with varying warranty terms. Tempur-Pedic 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-Pedic 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-Pedic pillows have a warranty term of 3 years, non-prorated.
Allowance for Doubtful Accounts	Allowance for Doubtful Accounts. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s accounts receivable. The Company regularly reviews the adequacy of its allowance for doubtful accounts. The Company determines the allowance based on historical write-off experience and current economic conditions and also considers factors such as customer credit, past transaction history with the customer and changes in customer payment terms when determining whether the collection of a 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.

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2019

Accounting Policies [Abstract]

Schedule of inventory

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



	September 30,		December 31,
(in millions)	2019		2018
Finished goods	$	165.5	$	148.9
Work-in-process	11.5		11.8
Raw materials and supplies	93.8		61.6
	$	270.8	$	222.3

Changes in accrued sales returns

The Company had the following activity for sales returns from December 31, 2018 to September 30, 2019:



(in millions)
Balance as of December 31, 2018	$	34.3
Amounts accrued	81.5
Returns charged to accrual	(76.0		)
Balance as of September 30, 2019	$	39.8

Warranty activity

The Company had the following activity for its accrued warranty expense from December 31, 2018 to September 30, 2019:



(in millions)
Balance as of December 31, 2018	$	36.4
Amounts accrued	23.6
Warranties charged to accrual	(18.8		)
Balance as of September 30, 2019	$	41.2

Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue



	Three Months Ended September 30, 2019						Nine Months Ended September 30, 2019
(in millions)	North America		International		Consolidated		North America		International		Consolidated
Channel
Wholesale	$	602.2	$	107.9	$	710.1	$	1,632.5	$	325.7	$	1,958.2
Direct	79.8		31.1		110.9		181.6		94.9		276.5
Net sales	$	682.0	$	139.0	$	821.0	$	1,814.1	$	420.6	$	2,234.7

	North America		International		Consolidated		North America		International		Consolidated
Product
Bedding products	$	640.6	$	111.6	$	752.2	$	1,709.2	$	335.4	$	2,044.6
Other products	41.4		27.4		68.8		104.9		85.2		190.1
Net sales	$	682.0	$	139.0	$	821.0	$	1,814.1	$	420.6	$	2,234.7

	North America		International		Consolidated		North America		International		Consolidated
Geographical region
United States	$	621.4	$	—	$	621.4	$	1,652.3	$	—	$	1,652.3
Canada	60.6		—		60.6		161.8		—		161.8
International	—		139.0		139.0		—		420.6		420.6
Net sales	$	682.0	$	139.0	$	821.0	$	1,814.1	$	420.6	$	2,234.7



	Three Months Ended September 30, 2018						Nine Months Ended September 30, 2018
(in millions)	North America		International		Consolidated		North America		International		Consolidated
Channel
Wholesale	$	553.6	$	107.3	$	660.9	$	1,501.9	$	343.7	$	1,845.6
Direct	42.2		26.4		68.6		106.7		74.5		181.2
Net sales	$	595.8	$	133.7	$	729.5	$	1,608.6	$	418.2	$	2,026.8

	North America		International		Consolidated		North America		International		Consolidated
Product
Bedding products	$	563.0	$	108.3	$	671.3	$	1,512.7	$	335.9	$	1,848.6
Other products	32.8		25.4		58.2		95.9		82.3		178.2
Net sales	$	595.8	$	133.7	$	729.5	$	1,608.6	$	418.2	$	2,026.8

	North America		International		Consolidated		North America		International		Consolidated
Geographical region
United States	$	536.8	$	—	$	536.8	$	1,454.6	$	—	$	1,454.6
Canada	59.0		—		59.0		154.0		—		154.0
International	—		133.7		133.7		—		418.2		418.2
Net sales	$	595.8	$	133.7	$	729.5	$	1,608.6	$	418.2	$	2,026.8

Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2019

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations Statements

Components of amounts reflected in the Condensed Consolidated Statements of Income related to discontinued operations are presented in the following table for each of the periods ended September 30.



	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2019			2018			2019			2018
Net sales	$	—		$	6.4		$	0.2		$	26.8
Cost of sales	—			5.0			0.2			18.9
Gross profit	—			1.4			—			7.9
Selling and marketing expenses	—			2.6			0.1			10.2
General, administrative and other expenses	0.3			1.6			2.1			4.8
Operating loss	(0.3		)	(2.8		)	(2.2		)	(7.1		)

Interest (income) expense, net and other	(1.2		)	(0.3		)	(1.5		)	3.8

Income (loss) from discontinued operations before income taxes	0.9			(2.5		)	(0.7		)	(10.9		)
Income tax provision	(0.1		)	(0.2		)	(0.1		)	—
Income (loss) from discontinued operations, net of tax	$	0.8		$	(2.7	)	$	(0.8	)	$	(10.9	)

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

Debt (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Schedule of long term debt

Debt for the Company consists of the following:



	September 30, 2019			December 31, 2018
(in millions, except percentages)	Amount		Rate	Amount		Rate	Maturity Date
2016 Credit Agreement
Term A Facility	$	423.8	(1)	$	525.0	(2)	April 6, 2021
Revolver	—		(1)	—		(2)	April 6, 2021
2026 Senior Notes	600.0		5.500%	600.0		5.500%	June 15, 2026
2023 Senior Notes	450.0		5.625%	450.0		5.625%	October 15, 2023
Securitized debt	33.9		(3)	9.1		(3)	April 6, 2021
Finance/capital lease obligations ⁽⁴⁾	65.0			66.7			Various
Other	3.4			3.0			Various
Total debt	1,576.1			1,653.8
Less: deferred financing costs	6.5			7.6
Total debt, net	1,569.6			1,646.2
Less: current portion	60.1			47.1
Total long-term debt, net	$	1,509.5		$	1,599.1



(1)	Interest at LIBOR plus applicable margin of 1.75% as of September 30, 2019.
(2)	Interest at LIBOR plus applicable margin of 2.00% as of December 31, 2018.
(3)	Interest at one month LIBOR index plus 80 basis points.
(4)	Finance/capital lease obligations are a non-cash financing activity.

Fair value of financial instruments

The fair values of these material financial instruments are as follows:



	Fair Value
(in millions)	September 30, 2019		December 31, 2018
2023 Senior Notes	$	463.8	$	435.6
2026 Senior Notes	627.2		549.3

- Definition

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

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Leases (Tables)

9 Months Ended

Sep. 30, 2019

Leases [Abstract]

Assets and Liabilities, Lessee

The following table summarizes the classification of operating and finance lease assets and obligations in the Company's Condensed Consolidated Balance Sheet as of September 30, 2019:



(in millions)		September 30, 2019
Assets
Operating lease assets	Operating lease right-of-use assets	$	227.2
Finance lease assets	Property, plant and equipment, net	55.4
Total leased assets		$	282.6

Liabilities
Short-term:
Operating lease obligations	Accrued expenses and other current liabilities	$	49.7
Finance lease obligations	Current portion of long-term debt	8.0
Long-term:
Operating lease obligations	Long-term operating lease obligations	186.2
Finance lease obligations	Long-term debt, net	57.0
Total lease obligations		$	300.9

Lease, Expense

The following table provides supplemental information related to the Company's Condensed Consolidated Statement of Cash Flows for the nine months ended September 30, 2019:



	Nine Months Ended
(in millions)	September 30, 2019
Cash paid for amounts included in the measurement of lease obligations:
Operating cash flows paid for operating leases	$	42.5
Financing cash flows paid for finance leases	5.9

Right-of-use assets obtained in exchange for new operating lease obligations	$	66.1

The following table summarizes the classification of lease expense in the Company's Condensed Consolidated Statement of Income for the three and nine months ended September 30, 2019:



	Three Months Ended		Nine Months Ended
(in millions)	September 30, 2019		September 30, 2019
Operating lease expense ⁽¹⁾	$	24.0	$	65.2
Finance lease expense:
Amortization of right-of-use assets	2.1		6.3
Interest on lease obligations	1.2		3.6
Total lease expense	$	27.3	$	75.1



(1)	Includes short-term leases and variable lease expenses, which are immaterial.

Lessee, Operating Lease, Liability, Maturity

The following table sets forth the scheduled maturities of lease obligations as of September 30, 2019:



(in millions)	Operating Leases		Finance Leases		Total
Year Ended December 31,
2019 (excluding the nine months ended September 30, 2019)	$	16.0	$	3.0	$	19.0
2020	58.5		11.9		70.4
2021	50.2		11.7		61.9
2022	42.4		9.6		52.0
2023	32.6		7.7		40.3
Thereafter	77.3		43.9		121.2
Total lease payments	277.0		87.8		364.8
Less: Interest	41.1		22.8		63.9
Present value of lease obligations	$	235.9	$	65.0	$	300.9

Finance Lease, Liability, Maturity

The following table sets forth the scheduled maturities of lease obligations as of September 30, 2019:



(in millions)	Operating Leases		Finance Leases		Total
Year Ended December 31,
2019 (excluding the nine months ended September 30, 2019)	$	16.0	$	3.0	$	19.0
2020	58.5		11.9		70.4
2021	50.2		11.7		61.9
2022	42.4		9.6		52.0
2023	32.6		7.7		40.3
Thereafter	77.3		43.9		121.2
Total lease payments	277.0		87.8		364.8
Less: Interest	41.1		22.8		63.9
Present value of lease obligations	$	235.9	$	65.0	$	300.9

Lease, Lease Term and Discount Rate

The following table provides lease term and discount rate information related to operating and finance leases as of September 30, 2019:



	September 30, 2019
Weighted average remaining lease term (years):
Operating leases	5.78
Finance leases	9.38

Weighted average discount rate:
Operating leases	5.47	%
Finance leases	6.29	%

Business Segment Information (Tables)

9 Months Ended

Sep. 30, 2019

Segment Reporting [Abstract]

Total assets and long-lived assets by segment

The following table summarizes total assets by segment:



(in millions)	September 30, 2019			December 31, 2018
North America	$	3,187.8		$	2,788.1
International	605.8			604.8
Corporate	503.3			569.0
Inter-segment eliminations	(1,193.8		)	(1,246.5		)
Total assets	$	3,103.1		$	2,715.4

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



(in millions)	September 30, 2019		December 31, 2018
North America	$	326.6	$	317.5
International	49.9		51.1
Corporate	55.0		52.2
Total property, plant and equipment, net	$	431.5	$	420.8

Segment financial information

The following table summarizes segment information for the three months ended September 30, 2019:



(in millions)	North America		International			Corporate			Eliminations			Consolidated
Net sales	$	682.0	$	139.0		$	—		$	—		$	821.0

Inter-segment sales	$	0.6	$	—		$	—		$	(0.6	)	$	—
Inter-segment royalty expense (income)	1.2		(1.2		)	—			—			—
Gross profit	286.8		73.8			—			—			360.6
Operating income (loss)	119.8		27.3			(26.5		)	—			120.6
Income (loss) from continuing operations before income taxes	117.8		24.0			(43.3		)	—			98.5

Depreciation and amortization ⁽¹⁾	$	17.1	$	3.4		$	9.5		$	—		$	30.0
Capital expenditures	15.0		2.0			5.0			—			22.0


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

The following table summarizes segment information for the three months ended September 30, 2018:



(in millions)	North America		International			Corporate			Eliminations			Consolidated
Net sales	$	595.8	$	133.7		$	—		$	—		$	729.5

Inter-segment sales	$	1.1	$	0.2		$	—		$	(1.3	)	$	—
Inter-segment royalty expense (income)	0.9		(0.9		)	—			—			—
Gross profit	229.2		70.8			—			—			300.0
Operating income (loss)	81.9		25.8			(23.0		)	—			84.7
Income (loss) from continuing operations before income taxes	78.5		23.5			(42.3		)	—			59.7

Depreciation and amortization ⁽¹⁾	$	16.6	$	3.3		$	10.0		$	—		$	29.9
Capital expenditures	11.2		2.9			1.2			—			15.3


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

The following table summarizes segment information for the nine months ended September 30, 2019:



(in millions)	North America		International			Corporate			Eliminations			Consolidated
Net sales	$	1,814.1	$	420.6		$	—		$	—		$	2,234.7

Inter-segment sales	$	2.5	$	0.4		$	—		$	(2.9	)	$	—
Inter-segment royalty expense (income)	3.2		(3.2		)	—			—			—
Gross profit	731.2		224.6			—			—			955.8
Operating income (loss)	264.2		79.9			(82.0		)	—			262.1
Income (loss) from continuing operations before income taxes	258.8		77.0			(132.9		)	—			202.9

Depreciation and amortization ⁽¹⁾	$	47.7	$	10.2		$	28.8		$	—		$	86.7
Capital expenditures	42.3		8.0			11.6			—			61.9


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

The following table summarizes segment information for the nine months ended September 30, 2018:



(in millions)	North America		International			Corporate			Eliminations			Consolidated
Net sales	$	1,608.6	$	418.2		$	—		$	—		$	2,026.8

Inter-segment sales	$	2.3	$	0.4		$	—		$	(2.7	)	$	—
Inter-segment royalty expense (income)	2.2		(2.2		)	—			—			—
Gross profit	616.7		220.8			—			—			837.5
Operating income (loss)	200.1		75.5			(77.2		)	—			198.4
Income (loss) from continuing operations before income taxes	193.7		71.0			(134.0		)	—			130.7

Depreciation and amortization ⁽¹⁾	$	43.8	$	10.2		$	30.8		$	—		$	84.8
Capital expenditures	42.1		8.9			4.8			—			55.8


(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:



(in millions)	September 30, 2019		December 31, 2018
United States	$	363.8	$	350.7
Canada	17.8		19.1
Other International	49.9		51.0
Total property, plant and equipment, net	$	431.5	$	420.8
Total International	$	67.7	$	70.1

Net sales by geographic region

The following table summarizes net sales by geographic region:



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(in millions)	2019		2018		2019		2018
United States	$	621.4	$	536.8	$	1,652.3	$	1,454.6
Canada	60.6		59.0		161.8		154.0
Other International	139.0		133.7		420.6		418.2
Total net sales	$	821.0	$	729.5	$	2,234.7	$	2,026.8
Total International	$	199.6	$	192.7	$	582.4	$	572.2

Guarantor/Non-Guarantor Financial Information (Tables)

9 Months Ended

Sep. 30, 2019

Condensed Financial Information Disclosure [Abstract]

Schedule of supplemental condensed consolidated statements of income and comprehensive income

Supplemental Condensed Consolidated Statements of Income and Comprehensive Income

Three Months Ended September 30, 2019

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net sales	$	—		$	641.9		$	200.1		$	(21.0	)	$	821.0
Cost of sales	—			366.5			114.9			(21.0		)	460.4
Gross profit	—			275.4			85.2			—			360.6
Selling and marketing expenses	2.8			119.8			46.0			—			168.6
General, administrative and other expenses	4.3			57.1			14.2			(0.3		)	75.3
Equity income in earnings of unconsolidated affiliates	—			—			(3.9		)	—			(3.9		)
Operating (loss) income	(7.1		)	98.5			28.9			0.3			120.6

Other expense (income), net:
Third party interest expense, net	14.0			6.4			0.4			—			20.8
Intercompany interest (income) expense, net	(2.4		)	3.4			(1.0		)	—			—
Interest expense (income), net	11.6			9.8			(0.6		)	—			20.8
Other expense (income), net	—			1.5			(1.4		)	1.2			1.3
Total other expense (income), net	11.6			11.3			(2.0		)	1.2			22.1

Income from equity investees	88.8			21.6			—			(110.4		)	—

Income from continuing operations before income taxes	70.1			108.8			30.9			(111.3		)	98.5
Income tax benefit (provision)	3.1			(20.0		)	(9.3		)	0.1			(26.1		)
Income from continuing operations	73.2			88.8			21.6			(111.2		)	72.4
Income from discontinued operations, net of tax	—			—			—			0.8			0.8
Net income before non-controlling interest	73.2			88.8			21.6			(110.4		)	73.2
Less: Net loss attributable to non-controlling interest	(0.1		)	—			(0.1		)	0.1			(0.1		)
Net income attributable to Tempur Sealy International, Inc.	$	73.3		$	88.8		$	21.7		$	(110.5	)	$	73.3

Comprehensive income attributable to Tempur Sealy International, Inc.	$	66.6		$	92.8		$	11.0		$	(103.8	)	$	66.6

Supplemental Condensed Consolidated Statements of Income and Comprehensive Income

Three Months Ended September 30, 2018

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net sales	$	—		$	556.6		$	197.4		$	(24.5	)	$	729.5
Cost of sales	—			338.6			114.1			(23.2		)	429.5
Gross profit	—			218.0			83.3			(1.3		)	300.0
Selling and marketing expenses	2.2			98.2			48.1			(2.6		)	145.9
General, administrative and other expenses	4.6			56.3			13.8			(1.5		)	73.2
Equity income in earnings of unconsolidated affiliates	—			—			(3.8		)	—			(3.8		)
Operating (loss) income	(6.8		)	63.5			25.2			2.8			84.7

Other expense, net:
Third party interest expense, net	14.9			7.8			1.1			(0.2		)	23.6
Intercompany interest (income) expense, net	(1.7		)	3.3			(1.6		)	—			—
Interest expense (income), net	13.2			11.1			(0.5		)	(0.2		)	23.6
Other (income) expense, net	—			(1.5		)	2.5			0.4			1.4
Total other expense, net	13.2			9.6			2.0			0.2			25.0

Income (loss) from equity investees	57.8			(14.9		)	—			(42.9		)	—

Income from continuing operations before income taxes	37.8			39.0			23.2			(40.3		)	59.7
Income tax benefit (provision)	3.6			18.8			(38.1		)	0.1			(15.6		)
Income (loss) from continuing operations	41.4			57.8			(14.9		)	(40.2		)	44.1
Loss from discontinued operations, net of tax	—			—			—			(2.7		)	(2.7		)
Net income (loss) before non-controlling interest	41.4			57.8			(14.9		)	(42.9		)	41.4
Less: Net loss attributable to non-controlling interest	(0.9		)	(0.8		)	(0.1		)	0.9			(0.9		)
Net income (loss) attributable to Tempur Sealy International, Inc.	$	42.3		$	58.6		$	(14.8	)	$	(43.8	)	$	42.3

Comprehensive income (loss) attributable to Tempur Sealy International, Inc.	$	44.7		$	58.6		$	(12.4	)	$	(46.2	)	$	44.7

Supplemental Condensed Consolidated Statements of Income and Comprehensive Income

Nine Months Ended September 30, 2019

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Reclassifications and Eliminations				Consolidated
Net sales	$	—		$	1,706.3		$	581.3		$	(52.9	)		$	2,234.7
Cost of sales	—			1,001.1			330.7			(52.9		)		1,278.9
Gross profit	—			705.2			250.6			—				955.8
Selling and marketing expenses	8.4			335.9			141.2			(0.1		)		485.4
General, administrative and other expenses	12.8			165.4			42.6			(2.1		)		218.7
Equity income in earnings of unconsolidated affiliates	—			—			(10.4		)	—				(10.4		)
Operating (loss) income	(21.2		)	203.9			77.2			2.2				262.1
														—
Other expense (income), net:
Third party interest expense, net	42.2			21.0			2.5			—				65.7
Intercompany interest (income) expense, net	(7.5		)	8.8			(1.3		)	—				—
Interest expense, net	34.7			29.8			1.2			—				65.7
Other income, net	—			(5.1		)	(2.9		)	1.5			—	(6.5		)
Total other expense (income), net	34.7			24.7			(1.7		)	1.5				59.2

Income from equity investees	189.3			58.0			—			(247.3		)		—

Income from continuing operations before income taxes	133.4			237.2			78.9			(246.6		)		202.9
Income tax benefit (provision)	9.9			(47.9		)	(20.9		)	0.1				(58.8		)
Income from continuing operations	143.3			189.3			58.0			(246.5		)		144.1
Loss from discontinued operations, net of tax	—			—			—			(0.8		)		(0.8		)
Net income attributable to Tempur Sealy International, Inc.	$	143.3		$	189.3		$	58.0		$	(247.3	)		$	143.3

Comprehensive income attributable to Tempur Sealy International, Inc.	$	143.6		$	194.8		$	52.8		$	(247.6	)		$	143.6

Supplemental Condensed Consolidated Statements of Income and Comprehensive Income

Nine Months Ended September 30, 2018

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net sales	$	—		$	1,507.6		$	594.3		$	(75.1	)	$	2,026.8
Cost of sales	—			918.0			338.5			(67.2		)	1,189.3
Gross profit	—			589.6			255.8			(7.9		)	837.5
Selling and marketing expenses	6.3			296.5			152.0			(10.2		)	444.6
General, administrative and other expenses	14.3			154.0			42.5			(4.8		)	206.0
Equity income in earnings of unconsolidated affiliates	—			—			(11.5		)	—			(11.5		)
Operating (loss) income	(20.6		)	139.1			72.8			7.1			198.4

Other expense, net:
Third party interest expense, net	44.7			22.3			4.2			(1.7		)	69.5
Intercompany interest (income) expense, net	(5.3		)	7.8			(2.5		)	—			—
Interest expense, net	39.4			30.1			1.7			(1.7		)	69.5
Other (income) expense, net	—			(7.1		)	7.4			(2.1		)	(1.8		)
Total other expense, net	39.4			23.0			9.1			(3.8		)	67.7

Income from equity investees	134.1			15.1			—			(149.2		)	—

Income from continuing operations before income taxes	74.1			131.2			63.7			(138.3		)	130.7
Income tax benefit (provision)	11.3			2.9			(48.6		)	—			(34.4		)
Income from continuing operations	85.4			134.1			15.1			(138.3		)	96.3
Loss from discontinued operations, net of tax	—			—			—			(10.9		)	(10.9		)
Net income before non-controlling interest	85.4			134.1			15.1			(149.2		)	85.4
Less: Net loss attributable to non-controlling interest	(2.8		)	(2.6		)	(0.2		)	2.8			(2.8		)
Net income attributable to Tempur Sealy International, Inc.	$	88.2		$	136.7		$	15.3		$	(152.0	)	$	88.2

Comprehensive income attributable to Tempur Sealy International, Inc.	$	78.9		$	136.1		$	6.6		$	(142.7	)	$	78.9

Schedule of supplemental condensed consolidated balance sheets

Supplemental Condensed Consolidated Balance Sheets

September 30, 2019

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)		Combined Guarantor Subsidiaries		Combined Non-Guarantor Subsidiaries		Reclassifications and Eliminations			Consolidated
ASSETS
Current Assets:
Cash and cash equivalents	$	—	$	14.2	$	38.7	$	—		$	52.9
Accounts receivable, net	1.0		23.1		379.2		27.9			431.2
Inventories	—		210.5		60.3		—			270.8
Prepaid expenses and other current assets	289.0		66.3		136.7		(286.4		)	205.6
Total Current Assets	290.0		314.1		614.9		(258.5		)	960.5
Property, plant and equipment, net	—		363.8		67.7		—			431.5
Goodwill	—		512.1		218.3		—			730.4
Other intangible assets, net	—		567.7		76.3		—			644.0
Operating lease right-of-use assets	—		179.6		47.6		—			227.2
Deferred income taxes	13.6		—		13.6		(13.6		)	13.6
Other non-current assets	3.8		52.5		39.6		—			95.9
Net investment in subsidiaries	819.7		317.5		—		(1,137.2		)	—
Due from affiliates	382.7		135.1		24.3		(542.1		)	—
Total Assets	$	1,509.8	$	2,442.4	$	1,102.3	$	(1,951.4	)	$	3,103.1

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable	$	—	$	194.7	$	53.6	$	27.9		$	276.2
Accrued expenses and other current liabilities	21.4		250.3		214.7		—			486.4
Current portion of long-term debt	—		56.7		3.4		—			60.1
Income taxes payable	—		296.4		15.3		(286.4		)	25.3
Total Current Liabilities	21.4		798.1		287.0		(258.5		)	848.0
Long-term debt, net	1,044.0		431.3		34.2		—			1,509.5
Long-term operating lease obligations	—		152.8		33.4		—			186.2
Deferred income taxes	—		108.6		15.1		(13.6		)	110.1
Other non-current liabilities	—		56.7		56.1		—			112.8
Due to affiliates	107.9		75.2		359.0		(542.1		)	—
Total Liabilities	1,173.3		1,622.7		784.8		(814.2		)	2,766.6

Total Stockholders' Equity	336.5		819.7		317.5		(1,137.2		)	336.5
Total Liabilities and Stockholders’ Equity	$	1,509.8	$	2,442.4	$	1,102.3	$	(1,951.4	)	$	3,103.1

Supplemental Condensed Consolidated Balance Sheets

December 31, 2018

(in millions)



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

Current Assets:
Cash and cash equivalents	$	0.1	$	6.2	$	39.5	$	—		$	45.8
Accounts receivable, net	—		15.2		303.3		3.0			321.5
Inventories	—		159.4		62.9		—			222.3
Prepaid expenses and other current assets	276.9		65.4		148.1		(274.6		)	215.8
Total Current Assets	277.0		246.2		553.8		(271.6		)	805.4
Property, plant and equipment, net	—		350.7		70.1		—			420.8
Goodwill	—		508.8		214.2		—			723.0
Other intangible assets, net	—		572.7		76.6		—			649.3
Deferred income taxes	15.0		—		22.6		(15.0		)	22.6
Other non-current assets	—		49.2		45.1		—			94.3
Net investment in subsidiaries	661.7		210.0		—		(871.7		)	—
Due from affiliates	422.1		153.8		15.4		(591.3		)	—
Total Assets	$	1,375.8	$	2,091.4	$	997.8	$	(1,749.6	)	$	2,715.4

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities:
Accounts payable	$	—	$	186.7	$	63.3	$	3.0		$	253.0
Accrued expenses and other current liabilities	6.7		143.9		208.6		—			359.2
Current portion of long-term debt	—		44.0		3.1		—			47.1
Income taxes payable	—		274.7		9.6		(274.6		)	9.7
Total Current Liabilities	6.7		649.3		284.6		(271.6		)	669.0
Long-term debt, net	1,043.0		547.1		9.0		—			1,599.1
Deferred income taxes	—		118.0		14.5		(15.0		)	117.5
Other non-current liabilities	1.9		58.2		52.2		—			112.3
Due to affiliates	106.7		57.1		427.5		(591.3		)	—
Total Liabilities	1,158.3		1,429.7		787.8		(877.9		)	2,497.9

Total Stockholders' Equity	217.5		661.7		210.0		(871.7		)	217.5
Total Liabilities and Stockholders’ Equity	$	1,375.8	$	2,091.4	$	997.8	$	(1,749.6	)	$	2,715.4

Schedule of supplemental condensed consolidated statements of cash flows

Supplemental Condensed Consolidated Statements of Cash Flows

Nine Months Ended September 30, 2019 (in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net cash (used in) provided by operating activities from continuing operations	$	(22.0	)	$	215.1		$	6.9		$	1.7		$	201.7

CASH FLOWS FROM INVESTING ACTIVITIES FROM CONTINUING OPERATIONS:
Purchases of property, plant and equipment	—			(53.5		)	(8.4		)	—			(61.9		)
Acquisitions, net of cash acquired	—			(9.0		)	(8.1		)	—			(17.1		)
Other	—			4.8			10.2			—			15.0
Contributions (paid to) received from subsidiaries and affiliates	—			(58.1		)	58.1			—			—
Net cash (used in) provided by investing activities from continuing operations	—			(115.8		)	51.8			—			(64.0		)

CASH FLOWS FROM FINANCING ACTIVITIES FROM CONTINUING OPERATIONS:
Proceeds from borrowings under long-term debt obligations	—			161.9			440.6			—			602.5
Repayments of borrowings under long-term debt obligations	—			(263.2		)	(415.3		)	—			(678.5		)
Net activity in investment in and advances from (to) subsidiaries and affiliates	64.6			16.0			(80.6		)	—			—
Excess tax benefit from stock-based compensation	12.8			—			—			—			12.8
Treasury stock repurchased	(55.5		)	—			—			—			(55.5		)
Payments of deferred financing costs	—			—			(0.1		)	—			(0.1		)
Other	—			(6.0		)	—			—			(6.0		)
Net cash provided by (used in) financing activities from continuing operations	21.9			(91.3		)	(55.4		)	—			(124.8		)

Net cash (used in) provided by continuing operations	(0.1		)	8.0			3.3			1.7			12.9

CASH USED IN DISCONTINUED OPERATIONS
Operating cash flows, net	—			—			—			(1.7		)	(1.7		)
Investing cash flows, net	—			—			—			—			—
Financing cash flows, net	—			—			—			—			—
Net cash used in discontinued operations	—			—			—			(1.7		)	(1.7		)

NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(4.1		)	—			(4.1		)
(Decrease)/increase in cash and cash equivalents	(0.1		)	8.0			(0.8		)	—			7.1
CASH AND CASH EQUIVALENTS, beginning of period	0.1			6.2			39.5			—			45.8
CASH AND CASH EQUIVALENTS, end of period	$	—		$	14.2		$	38.7		$	—		$	52.9

Supplemental Condensed Consolidated Statements of Cash Flows

Nine Months Ended September 30, 2018

(in millions)



	Tempur Sealy International, Inc. (Ultimate Parent)			Combined Guarantor Subsidiaries			Combined Non-Guarantor Subsidiaries			Reclassifications and Eliminations			Consolidated
Net cash (used in) provided by operating activities from continuing operations	$	(28.4	)	$	132.7		$	8.7		$	17.6		$	130.6

CASH FLOWS FROM INVESTING ACTIVITIES FROM CONTINUING OPERATIONS:
Purchases of property, plant and equipment	—			(46.4		)	(9.6		)	0.2			(55.8		)
Contributions (paid to) received from subsidiaries and affiliates	—			(83.6		)	83.6			—			—
Other	—			0.1			0.2			—			0.3
Net cash (used in) provided by investing activities from continuing operations	—			(129.9		)	74.2			0.2			(55.5		)

CASH FLOWS FROM FINANCING ACTIVITIES FROM CONTINUING OPERATIONS:
Proceeds from borrowings under long-term debt obligations	—			335.6			527.4			—			863.0
Repayments of borrowings under long-term debt obligations	—			(358.1		)	(564.6		)	—			(922.7		)
Net activity in investment in and advances from (to) subsidiaries and affiliates	27.6			21.7			(49.3		)	—			—
Proceeds from exercise of stock options	4.2			—			—			—			4.2
Treasury stock repurchased	(3.5		)	—			—			—			(3.5		)
Other	—			(3.8		)	(0.9		)	—			(4.7		)
Net cash provided by (used in) financing activities from continuing operations	28.3			(4.6		)	(87.4		)	—			(63.7		)

Net cash (used in) provided by continuing operations	(0.1		)	(1.8		)	(4.5		)	17.8			11.4

CASH USED IN DISCONTINUED OPERATIONS
Operating cash flows, net	—			—			—			(17.6		)	(17.6		)
Investing cash flows, net	—			—			—			(0.2		)	(0.2		)
Financing cash flows, net	—			—			—			—			—
Net cash used in discontinued operations	—			—			—			(17.8		)	(17.8		)

NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	—			—			(2.1		)	—			(2.1		)
Decrease in cash and cash equivalents	(0.1		)	(1.8		)	(6.6		)	—			(8.5		)
CASH AND CASH EQUIVALENTS, beginning of period	0.1			12.3			29.5			—			41.9
CASH AND CASH EQUIVALENTS, end of period	—			10.5			22.9			—			33.4
LESS: CASH AND CASH EQUIVALENTS OF DISCONTINUED OPERATIONS	—			—			1.3			—			1.3
CASH AND CASH EQUIVALENTS OF CONTINUING OPERATIONS	$	—		$	10.5		$	21.6		$	—		$	32.1

Summary of Significant Accounting Policies (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019 USD ($) channel	Jan. 01, 2019 USD ($)	Dec. 31, 2018 USD ($)
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Number of products sales channels \| channel	2
Ownership percentage	50.00%
Net investment	$ 17.3		$ 22.5
Operating lease right-of-use assets	227.2
Present value of lease obligations	235.9
Revenue from Contract with Customer [Abstract]
Allowance for doubtful accounts included in accounts receivable, net	48.9		47.6
Accrued expenses and other current liabilities
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Accrued sales returns	27.2		22.0
Warranty Term [Abstract]
Accrued warranty expense	19.0		14.9
Other noncurrent liabilities
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Accrued sales returns	12.6		12.3
Warranty Term [Abstract]
Accrued warranty expense	$ 22.2		$ 21.5
Mattresses \| Non-prorated \| International
Warranty Term [Abstract]
Warranty term (in years)	5 years
Mattresses \| Prorated \| International
Warranty Term [Abstract]
Warranty term (in years)	10 years
Mattresses \| Minimum \| North America
Warranty Term [Abstract]
Warranty term (in years)	10 years
Mattresses \| Minimum \| International
Warranty Term [Abstract]
Warranty term (in years)	5 years
Mattresses \| Minimum \| Non-prorated \| North America
Warranty Term [Abstract]
Warranty term (in years)	10 years
Mattresses \| Maximum \| North America
Warranty Term [Abstract]
Warranty term (in years)	25 years
Mattresses \| Maximum \| International
Warranty Term [Abstract]
Warranty term (in years)	15 years
Mattresses \| Maximum \| Non-prorated \| North America
Warranty Term [Abstract]
Warranty term (in years)	15 years
Pillows \| North America
Warranty Term [Abstract]
Warranty term (in years)	3 years
Accounting Standards Update 2016-02
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]
Operating lease right-of-use assets		$ 197.2
Present value of lease obligations		$ 203.3

Summary of Significant Accounting Policies - Schedule Of Inventory, Current (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Finished goods	$ 165.5	$ 148.9
Work-in-process	11.5	11.8
Raw materials and supplies	93.8	61.6
Total	$ 270.8	$ 222.3

Revenue Recognition - Sales (Details) $ in Millions	3 Months Ended		9 Months Ended
Revenue Recognition - Sales (Details) $ in Millions	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Sep. 30, 2019 USD ($) product_category channel	Sep. 30, 2018 USD ($)
Disaggregation of Revenue [Line Items]
Net sales	$ 821.0	$ 729.5	$ 2,234.7	$ 2,026.8
Number of products sales channels \| channel			2
Number of product categories \| product_category			2
Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	821.0	729.5	$ 2,234.7	2,026.8
Operating Segments \| United States
Disaggregation of Revenue [Line Items]
Net sales	621.4	536.8	1,652.3	1,454.6
Operating Segments \| Canada
Disaggregation of Revenue [Line Items]
Net sales	60.6	59.0	161.8	154.0
Operating Segments \| International
Disaggregation of Revenue [Line Items]
Net sales	139.0	133.7	420.6	418.2
Operating Segments \| Bedding products
Disaggregation of Revenue [Line Items]
Net sales	752.2	671.3	2,044.6	1,848.6
Operating Segments \| Other products
Disaggregation of Revenue [Line Items]
Net sales	68.8	58.2	190.1	178.2
Operating Segments \| Wholesale
Disaggregation of Revenue [Line Items]
Net sales	710.1	660.9	1,958.2	1,845.6
Operating Segments \| Direct
Disaggregation of Revenue [Line Items]
Net sales	110.9	68.6	276.5	181.2
Operating Segments \| North America
Disaggregation of Revenue [Line Items]
Net sales	682.0	595.8	1,814.1	1,608.6
Operating Segments \| North America \| United States
Disaggregation of Revenue [Line Items]
Net sales	621.4	536.8	1,652.3	1,454.6
Operating Segments \| North America \| Canada
Disaggregation of Revenue [Line Items]
Net sales	60.6	59.0	161.8	154.0
Operating Segments \| North America \| Bedding products
Disaggregation of Revenue [Line Items]
Net sales	640.6	563.0	1,709.2	1,512.7
Operating Segments \| North America \| Other products
Disaggregation of Revenue [Line Items]
Net sales	41.4	32.8	104.9	95.9
Operating Segments \| North America \| Wholesale
Disaggregation of Revenue [Line Items]
Net sales	602.2	553.6	1,632.5	1,501.9
Operating Segments \| North America \| Direct
Disaggregation of Revenue [Line Items]
Net sales	79.8	42.2	181.6	106.7
Operating Segments \| International
Disaggregation of Revenue [Line Items]
Net sales	139.0	133.7	420.6	418.2
Operating Segments \| International \| Bedding products
Disaggregation of Revenue [Line Items]
Net sales	111.6	108.3	335.4	335.9
Operating Segments \| International \| Other products
Disaggregation of Revenue [Line Items]
Net sales	27.4	25.4	85.2	82.3
Operating Segments \| International \| Wholesale
Disaggregation of Revenue [Line Items]
Net sales	107.9	107.3	325.7	343.7
Operating Segments \| International \| Direct
Disaggregation of Revenue [Line Items]
Net sales	$ 31.1	$ 26.4	$ 94.9	$ 74.5

Discontinued Operations - Income Statement (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
Net sales	$ 0.0	$ 6.4	$ 0.2	$ 26.8
Cost of sales	0.0	5.0	0.2	18.9
Gross profit	0.0	1.4	0.0	7.9
Selling and marketing expenses	0.0	2.6	0.1	10.2
General, administrative and other expenses	0.3	1.6	2.1	4.8
Operating loss	(0.3)	(2.8)	(2.2)	(7.1)
Interest (income) expense, net and other	(1.2)	(0.3)	(1.5)	3.8
Income (loss) from discontinued operations before income taxes	0.9	(2.5)	(0.7)	(10.9)
Income tax provision	(0.1)	(0.2)	(0.1)	0.0
Income (loss) from discontinued operations, net of tax	$ 0.8	$ (2.7)	$ (0.8)	$ (10.9)

Acquisitions (Narrative) (Details) - USD ($) $ in Millions		9 Months Ended
Acquisitions (Narrative) (Details) - USD ($) $ in Millions	Apr. 01, 2019	Sep. 30, 2019	Mar. 31, 2019
Business Acquisition [Line Items]
Goodwill, acquired during period		$ 8.7
International
Business Acquisition [Line Items]
Transaction value	$ 7.1
Goodwill, acquired during period	2.9	$ 5.4
Other intangible assets	2.9
Innovative Mattress Solutions, LLC (IMS)
Business Acquisition [Line Items]
Transaction value	24.0
Liabilities			$ 11.0
Consideration transferred	13.2
Cash and equivalents	5.1
Payments to acquire businesses	8.1
Other intangible assets	2.1
Innovative Mattress Solutions, LLC (IMS) \| Trade Name and Customer Database
Business Acquisition [Line Items]
Intangible assets acquired	$ 2.1

Acquisitions (Price Purchase Allocation) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Apr. 01, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 730.4		$ 723.0
Innovative Mattress Solutions, LLC (IMS)
Business Acquisition [Line Items]
Working capital (accounts receivable and inventory, net of accounts payable and accrued liabilities)		$ (2.3)
Property and equipment		5.0
Goodwill		3.3
Other intangible assets		2.1
Operating lease right-of-use assets		28.5
Long-term operating lease liabilities		(28.5)
Net purchase price		$ 8.1

Goodwill (Details) - USD ($) $ in Millions		9 Months Ended
Goodwill (Details) - USD ($) $ in Millions	Apr. 01, 2019	Sep. 30, 2019
Goodwill [Roll Forward]
Beginning balance		$ 723.0
Goodwill resulting from acquisitions		8.7
Foreign currency translation and other		(1.3)
Ending balance		730.4
North America
Goodwill [Roll Forward]
Beginning balance		571.1
Goodwill resulting from acquisitions		3.3
Foreign currency translation and other		1.9
Ending balance		576.3
International
Goodwill [Roll Forward]
Beginning balance		151.9
Goodwill resulting from acquisitions	$ 2.9	5.4
Foreign currency translation and other		(3.2)
Ending balance		$ 154.1

Debt (Details) - USD ($)		9 Months Ended	12 Months Ended
Debt (Details) - USD ($)	Oct. 16, 2019	Sep. 30, 2019	Dec. 31, 2018	Dec. 31, 2016
Long-term Debt, by Current and Noncurrent [Abstract]
Finance/capital lease obligations		$ 65,000,000.0
Other		3,400,000	$ 3,000,000.0
Total debt		1,576,100,000	1,653,800,000
Less: deferred financing costs		6,500,000	7,600,000
Total debt, net		1,569,600,000	1,646,200,000
Less: current portion		60,100,000	47,100,000
Total long-term debt, net		1,509,500,000	1,599,100,000
2026 Senior Notes
Long-term Debt, by Current and Noncurrent [Abstract]
Senior notes		$ 600,000,000.0	$ 600,000,000.0
Stated percentage		5.50%	5.50%
2026 Senior Notes \| Fair Value, Inputs, Level 2
Line of Credit Facility [Abstract]
Notes, fair value		$ 627,200,000	$ 549,300,000
2023 Senior Notes
Long-term Debt, by Current and Noncurrent [Abstract]
Senior notes		$ 450,000,000.0	$ 450,000,000.0
Stated percentage		5.625%	5.625%
2023 Senior Notes \| Fair Value, Inputs, Level 2
Line of Credit Facility [Abstract]
Notes, fair value		$ 463,800,000	$ 435,600,000
Securitized debt
Long-term Debt, by Current and Noncurrent [Abstract]
Securitized debt		$ 33,900,000	$ 9,100,000
Securitized debt \| London Interbank Offered Rate (LIBOR)
Long-term Debt, by Current and Noncurrent [Abstract]
Index rate or LIBOR plus (as a percent)		0.80%	0.80%
Financing and capital lease obligations
Long-term Debt, by Current and Noncurrent [Abstract]
Finance/capital lease obligations		$ 65,000,000.0	$ 66,700,000
2019 Credit Agreement \| Line of Credit
Long-term Debt, by Current and Noncurrent [Abstract]
Covenant netted cash		$ 51,200,000
Commitment fee		0.25%
2016 Credit Agreement \| Line of Credit
Line of Credit Facility [Abstract]
Line of credit borrowing				$ 500,000,000.0
2016 Credit Agreement \| Term Loan Facility \| Line of Credit
Line of Credit Facility [Abstract]
Line of credit borrowing				500,000,000.0
2016 Credit Agreement \| Delayed Draw Term Loan Facility \| Line of Credit
Line of Credit Facility [Abstract]
Line of credit borrowing				$ 100,000,000.0
2016 Credit Agreement \| Term A Facility
Long-term Debt, by Current and Noncurrent [Abstract]
Line of credit		$ 423,800,000	$ 525,000,000.0
Line of Credit Facility [Abstract]
Prepaid debt payment		$ 75,000,000.0
2016 Credit Agreement \| Term A Facility \| London Interbank Offered Rate (LIBOR)
Long-term Debt, by Current and Noncurrent [Abstract]
Index rate or LIBOR plus (as a percent)		1.75%	1.75%
2016 Credit Agreement \| Revolver
Long-term Debt, by Current and Noncurrent [Abstract]
Line of credit		$ 0	$ 0
2016 Credit Agreement \| Revolver \| London Interbank Offered Rate (LIBOR)
Long-term Debt, by Current and Noncurrent [Abstract]
Index rate or LIBOR plus (as a percent)		2.00%	2.00%
Subsequent Event \| 2019 Credit Agreement \| Line of Credit
Long-term Debt, by Current and Noncurrent [Abstract]
Equity interest of subsidiary guarantor	100.00%
Equity voting rights of subsidiary	65.00%
Covenant letters of credit outstanding ratio	$ 40,000,000.0
Domestic and foreign qualified cash, maximum percentage	100.00%
Domestic and foreign qualified cash, maximum	$ 200,000,000.0
Subsequent Event \| 2019 Credit Agreement \| Base Rate \| Line of Credit
Long-term Debt, by Current and Noncurrent [Abstract]
Index rate or LIBOR plus (as a percent)	0.625%
Subsequent Event \| 2019 Credit Agreement \| Eurocurrency Rate \| Line of Credit
Long-term Debt, by Current and Noncurrent [Abstract]
Index rate or LIBOR plus (as a percent)	1.625%
Subsequent Event \| 2019 Credit Agreement \| Line of Credit \| Incremental Facility
Line of Credit Facility [Abstract]
Line of credit borrowing	$ 550,000,000.0
Subsequent Event \| 2019 Credit Agreement \| Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Abstract]
Line of credit borrowing	425,000,000.0
Subsequent Event \| 2019 Credit Agreement \| Line of Credit \| Term Loan Facility
Line of Credit Facility [Abstract]
Line of credit borrowing	425,000,000.0
Subsequent Event \| 2019 Credit Agreement \| Line of Credit \| Letter of Credit
Line of Credit Facility [Abstract]
Line of credit borrowing	$ 60,000,000.0

Leases - Balance Sheet Effect (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Leases [Abstract]
Operating lease right-of-use assets	$ 227.2
Finance lease assets	55.4
Total leased assets	282.6
Operating lease obligations	49.7	$ 0.0
Finance lease obligations	8.0
Long-term operating lease obligations	186.2
Finance lease obligations	57.0
Present value of lease obligations	$ 300.9

Leases - Expense (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
Leases - Expense (Details) - USD ($) $ in Millions	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease expense	$ 24.0	$ 65.2
Finance lease expense:
Amortization of right-of-use assets	2.1	6.3
Interest on lease obligations	1.2	3.6
Total lease expense	$ 27.3	$ 75.1

Leases - Maturity (Details) $ in Millions	Sep. 30, 2019 USD ($)
Operating Leases
2019 (excluding the nine months ended September 30, 2019)	$ 16.0
2020	58.5
2021	50.2
2022	42.4
2023	32.6
Thereafter	77.3
Future minimum lease payments	277.0
Less: Interest	41.1
Present value of lease obligations	235.9
Finance Leases
2019 (excluding the nine months ended September 30, 2019)	3.0
2020	11.9
2021	11.7
2022	9.6
2023	7.7
Thereafter	43.9
Total lease payments	87.8
Less: Interest	22.8
Present value of lease obligations	65.0
2019 (excluding the nine months ended September 30, 2019)	19.0
2020	70.4
2021	61.9
2022	52.0
2023	40.3
Thereafter	121.2
Total lease payments	364.8
Less: Interest	63.9
Present value of lease obligations	$ 300.9

Leases - Long Term and Discount Rate (Details)	Sep. 30, 2019
Weighted average remaining lease term (years):
Operating leases	5 years 9 months 10 days
Finance leases	9 years 4 months 17 days
Weighted average discount rate:
Operating leases	5.47%
Finance leases	6.29%

Leases - Other Information (Details) $ in Millions	9 Months Ended
Leases - Other Information (Details) $ in Millions	Sep. 30, 2019 USD ($)
Cash paid for amounts included in the measurement of lease obligations:
Operating cash flows paid for operating leases	$ 42.5
Financing cash flows paid for finance leases	5.9
Right-of-use assets obtained in exchange for new operating lease obligations	$ 66.1

Stockholders' Equity (Details) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019 USD ($) $ / shares shares	Sep. 30, 2018 USD ($) shares	Sep. 30, 2019 USD ($) vote $ / shares shares	Sep. 30, 2018 USD ($) shares
Accumulated Other Comprehensive Income (Loss) [Line Items]
Common stock shares authorized (in shares) \| shares	300,000,000.0		300,000,000.0
Common stock par value (USD per share) \| $ / shares	$ 0.01		$ 0.01
Preferred stock authorized shares (in shares) \| shares	10,000,000.0		10,000,000.0
Preferred stock par or stated value (in dollars per share) \| $ / shares	$ 0.01		$ 0.01
Common stock, number of votes granted per common share held \| vote			1
Treasury stock, acquired (in shares) \| shares	700,000	0	700,000	0
Payments for repurchase of common stock	$ 50.0		$ 52.3
Value of treasury stock acquired	50.0	$ 0.5	55.5	$ 3.5
February 2016 Program
Accumulated Other Comprehensive Income (Loss) [Line Items]
Remaining shares under share repurchase authorization	174.6		174.6
NEW YORK STOCK EXCHANGE, INC.
Accumulated Other Comprehensive Income (Loss) [Line Items]
Value of treasury stock acquired	$ 0.0	$ 0.5	$ 3.2	$ 3.5

Stockholders' Equity - AOCL (Details) - USD ($)	3 Months Ended		9 Months Ended
Stockholders' Equity - AOCL (Details) - USD ($)	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 305,900,000	$ 157,700,000	$ 217,500,000	$ 112,500,000
Foreign currency translation adjustments	(6,700,000)	2,400,000	300,000	(8,700,000)
Total other comprehensive loss	0	0	0	(600,000)
Balance at end of period	336,500,000	209,500,000	336,500,000	209,500,000
Foreign Currency Translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(84,700,000)	(83,900,000)	(91,700,000)	(72,800,000)
Tax (expense) benefits			0	0
Net amount reclassified to earnings			0	0
Balance at end of period	(91,400,000)	(81,500,000)	(91,400,000)	(81,500,000)
Accumulated Other Comprehensive Loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(88,300,000)	(87,200,000)	(95,300,000)	(75,500,000)
Foreign currency translation adjustments	(6,700,000)	2,400,000	300,000	(8,700,000)
Balance at end of period	(95,000,000.0)	(84,800,000)	(95,000,000.0)	(84,800,000)
Pensions
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(3,600,000)	(3,300,000)	(3,600,000)	(2,700,000)
Net change from period revaluations	0	0	0	0
Tax (expense) benefits	0	0	0	0
Total other comprehensive gain (loss) before reclassifications, net of tax	0	0	0	0
Net amount reclassified to earnings	0	0	0	0
U.S. tax reform - reclassification to retained earnings upon adoption of ASU No. 2018-02	0	0	0	(500,000)
Tax benefit	0	0	0	(100,000)
Total amount reclassified from accumulated other comprehensive loss, net of tax	0	0	0	(600,000)
Balance at end of period	$ (3,600,000)	$ (3,300,000)	$ (3,600,000)	$ (3,300,000)

Other Items (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Accrued Liabilities and Other Liabilities [Abstract]
Taxes	$ 132.2	$ 136.8
Wages and benefits	65.5	43.7
Advertising	62.0	46.1
Operating lease obligations	49.7	0.0
Sales returns	27.2	22.0
Warranty	19.0	14.9
Rebates	13.9	11.6
Other	116.9	84.1
Total accrued liabilities	$ 486.4	$ 359.2

Stock-Based Compensation (Details) - USD ($) shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 6,800,000	$ 6,500,000	$ 20,000,000.0	$ 19,600,000
PRSU expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	300,000	700,000	1,000,000.0	2,200,000
PRSU expense \| 2017 Aspirational Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Adjusted EBITDA	650,000,000.0		$ 650,000,000.0
Percentage of target shares forfeited			33.33%
PRSU expense \| 2019 Aspirational Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	$ 0		$ 0
Outstanding (in shares)	1.6		1.6
PRSU expense \| 2019 Aspirational Plan \| 2018 Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			50.00%
PRSU expense \| 2019 Aspirational Plan \| 2018 Target \| Adjust EBITDA is $600 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Adjusted EBITDA	$ 600,000,000.0		$ 600,000,000.0
Award vesting percentage			66.00%
PRSU expense \| 2019 Aspirational Plan \| 2018 Target \| Adjusted EBITDA equals or exceeds $650 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Adjusted EBITDA	650,000,000.0		$ 650,000,000.0
Award vesting percentage			100.00%
PRSU expense \| 2019 Aspirational Plan \| 2018 Target \| Adjusted EBITDA is between $600.0 million and $650.0 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage			50.00%
PRSU expense \| 2019 Aspirational Plan \| 2018 Target \| Adjusted EBITDA is less than $600.0 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Adjusted EBITDA	600,000,000.0		$ 600,000,000.0
PRSU expense \| 2019 Aspirational Plan \| 2017 Target \| Adjust EBITDA is $600 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Adjusted EBITDA	600,000,000.0		$ 600,000,000.0
Award vesting percentage			66.00%
PRSU expense \| 2019 Aspirational Plan \| 2017 Target \| Adjusted EBITDA equals or exceeds $650 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Adjusted EBITDA	650,000,000.0		$ 650,000,000.0
Award vesting percentage			100.00%
PRSU expense \| 2019 Aspirational Plan \| 2017 Target \| Adjusted EBITDA is less than $600.0 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Adjusted EBITDA	600,000,000.0		$ 600,000,000.0
PRSU expense \| 2019 Aspirational Plan \| First Designated Period
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized stock-based compensation expense	93,200,000		93,200,000
Option expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	1,300,000	1,600,000	3,700,000	5,400,000
RSU/DSU expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation expense	5,200,000	$ 4,200,000	15,300,000	$ 12,000,000.0
Minimum \| PRSU expense \| 2019 Aspirational Plan \| 2018 Target \| Adjusted EBITDA is between $600.0 million and $650.0 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Adjusted EBITDA	600,000,000.0		600,000,000.0
Minimum \| PRSU expense \| 2019 Aspirational Plan \| 2017 Target \| Adjusted EBITDA is between $600.0 million and $650.0 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Adjusted EBITDA	600,000,000.0		600,000,000.0
Maximum \| PRSU expense \| 2019 Aspirational Plan \| 2018 Target \| Adjusted EBITDA is between $600.0 million and $650.0 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Adjusted EBITDA	650,000,000.0		650,000,000.0
Maximum \| PRSU expense \| 2019 Aspirational Plan \| 2017 Target \| Adjusted EBITDA is between $600.0 million and $650.0 million
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Minimum Adjusted EBITDA	$ 650,000,000.0		$ 650,000,000.0

Income Taxes (Details) kr in Millions, $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details) kr in Millions, $ in Millions	Sep. 30, 2019 USD ($)	Sep. 30, 2018	Sep. 30, 2019 USD ($)	Sep. 30, 2018	Sep. 30, 2019 DKK (kr)	Dec. 31, 2018 USD ($)	Dec. 31, 2018 DKK (kr)
Income Tax Examination [Line Items]
Effective income tax provision (as a percent)	26.50%	26.10%	29.00%	26.30%
Unrecognized tax benefits that would impact effective tax rate	$ 94.0		$ 94.0			$ 91.4
Danish Tax Authority (SKAT) \| Foreign Tax Authority
Income Tax Examination [Line Items]
Settlement	123.7		123.7		kr 847.3	130.0
Danish Tax Authority (SKAT) \| Foreign Tax Authority \| Tax Years 2001-2011
Income Tax Examination [Line Items]
Accrued tax and interest	141.6		141.6		970.1	147.7	kr 962.3
Danish Tax Authority (SKAT) \| Foreign Tax Authority \| Tax Years Post 2011
Income Tax Examination [Line Items]
Accrued tax and interest	37.5		37.5		kr 256.9	35.3	kr 230.3
Deferred tax assets	$ 6.7		$ 6.7			$ 4.2

Earnings Per Common Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator:
Income from continuing operations, net of loss attributable to non-controlling interest	$ 72.5	$ 45.0	$ 144.1	$ 99.1
Denominator:
Denominator for basic earnings per common share-weighted average shares (in shares)	54,600,000	54,500,000	54,700,000	54,400,000
Effect of dilutive securities:
Employee stock-based compensation (in shares)	1,200,000	600,000	1,300,000	600,000
Denominator for diluted earnings per common share-adjusted weighted average shares	55,800,000	55,100,000	56,000,000.0	55,000,000.0
Basic earnings per share for continuing operations (in dollars per share)	$ 1.33	$ 0.83	$ 2.63	$ 1.82
Diluted earnings per share for continuing operations (in dollars per share)	$ 1.30	$ 0.82	$ 2.57	$ 1.80
Shares excluded from diluted earnings per common share computation as anti-dilutive (in shares)	0	1,400,000	1,100,000	1,500,000

Business Segment Information (Details) $ in Millions	3 Months Ended		9 Months Ended
Business Segment Information (Details) $ in Millions	Sep. 30, 2019 USD ($)	Sep. 30, 2018 USD ($)	Sep. 30, 2019 USD ($) segment	Sep. 30, 2018 USD ($)	Dec. 31, 2018 USD ($)
Segment Reporting [Abstract]
Number of business segments \| segment			2
Segment Reporting Information [Line Items]
Total assets	$ 3,103.1		$ 3,103.1		$ 2,715.4
Total property, plant and equipment, net	431.5		431.5		420.8
Net sales	821.0	$ 729.5	2,234.7	$ 2,026.8
Gross profit	360.6	300.0	955.8	837.5
Operating income (loss)	120.6	84.7	262.1	198.4
Income (loss) from continuing operations before income taxes	98.5	59.7	202.9	130.7
Depreciation and amortization (including stock-based compensation amortization)	30.0	29.9	86.7	84.8
Capital expenditures	22.0	15.3	61.9	55.8
Long-lived assets	431.5		431.5		420.8
United States
Segment Reporting Information [Line Items]
Long-lived assets	363.8		363.8		350.7
Canada
Segment Reporting Information [Line Items]
Long-lived assets	17.8		17.8		19.1
Other International
Segment Reporting Information [Line Items]
Long-lived assets	49.9		49.9		51.0
Total International
Segment Reporting Information [Line Items]
Net sales	199.6	192.7	582.4	572.2
Long-lived assets	67.7		67.7		70.1
Operating Segments
Segment Reporting Information [Line Items]
Total property, plant and equipment, net	431.5		431.5		420.8
Net sales	821.0	729.5	2,234.7	2,026.8
Operating Segments \| United States
Segment Reporting Information [Line Items]
Net sales	621.4	536.8	1,652.3	1,454.6
Operating Segments \| Canada
Segment Reporting Information [Line Items]
Net sales	60.6	59.0	161.8	154.0
Operating Segments \| International
Segment Reporting Information [Line Items]
Net sales	139.0	133.7	420.6	418.2
Operating Segments \| North America
Segment Reporting Information [Line Items]
Total assets	3,187.8		3,187.8		2,788.1
Total property, plant and equipment, net	326.6		326.6		317.5
Net sales	682.0	595.8	1,814.1	1,608.6
Gross profit	286.8	229.2	731.2	616.7
Operating income (loss)	119.8	81.9	264.2	200.1
Income (loss) from continuing operations before income taxes	117.8	78.5	258.8	193.7
Depreciation and amortization (including stock-based compensation amortization)	17.1	16.6	47.7	43.8
Capital expenditures	15.0	11.2	42.3	42.1
Operating Segments \| North America \| United States
Segment Reporting Information [Line Items]
Net sales	621.4	536.8	1,652.3	1,454.6
Operating Segments \| North America \| Canada
Segment Reporting Information [Line Items]
Net sales	60.6	59.0	161.8	154.0
Operating Segments \| International
Segment Reporting Information [Line Items]
Total assets	605.8		605.8		604.8
Total property, plant and equipment, net	49.9		49.9		51.1
Net sales	139.0	133.7	420.6	418.2
Gross profit	73.8	70.8	224.6	220.8
Operating income (loss)	27.3	25.8	79.9	75.5
Income (loss) from continuing operations before income taxes	24.0	23.5	77.0	71.0
Depreciation and amortization (including stock-based compensation amortization)	3.4	3.3	10.2	10.2
Capital expenditures	2.0	2.9	8.0	8.9
Corporate
Segment Reporting Information [Line Items]
Total assets	503.3		503.3		569.0
Total property, plant and equipment, net	55.0		55.0		52.2
Operating income (loss)	(26.5)	(23.0)	(82.0)	(77.2)
Income (loss) from continuing operations before income taxes	(43.3)	(42.3)	(132.9)	(134.0)
Depreciation and amortization (including stock-based compensation amortization)	9.5	10.0	28.8	30.8
Capital expenditures	5.0	1.2	11.6	4.8
Inter-segment eliminations
Segment Reporting Information [Line Items]
Total assets	(1,193.8)		(1,193.8)		$ (1,246.5)
Net sales	(0.6)	(1.3)	(2.9)	(2.7)
Inter-segment eliminations \| North America
Segment Reporting Information [Line Items]
Net sales	0.6	1.1	2.5	2.3
Inter-segment royalty expense (income)	1.2	0.9	3.2	2.2
Inter-segment eliminations \| International
Segment Reporting Information [Line Items]
Net sales	0.0	0.2	0.4	0.4
Inter-segment royalty expense (income)	$ (1.2)	$ (0.9)	$ (3.2)	$ (2.2)

Guarantor/Non-Guarantor Financial Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2019	Dec. 31, 2018	Jun. 30, 2018	Dec. 31, 2017
Supplemental condensed consolidated statements of income and comprehensive income [Abstract]
Net sales	$ 821.0	$ 729.5	$ 2,234.7	$ 2,026.8
Cost of sales	460.4	429.5	1,278.9	1,189.3
Gross profit	360.6	300.0	955.8	837.5
Selling and marketing expenses	168.6	145.9	485.4	444.6
General, administrative and other expenses	75.3	73.2	218.7	206.0
Equity income in earnings of unconsolidated affiliates	(3.9)	(3.8)	(10.4)	(11.5)
Operating (loss) income	120.6	84.7	262.1	198.4
Other expense (income), net:
Third party interest expense, net	20.8	23.6	65.7	69.5
Intercompany interest (income) expense, net	0.0	0.0	0.0	0.0
Interest expense (income), net	20.8	23.6	65.7	69.5
Other expense (income), net	1.3	1.4	(6.5)	(1.8)
Total other expense, net	22.1	25.0	59.2	67.7
Income (loss) from equity investees	0.0	0.0	0.0	0.0
Income from continuing operations before income taxes	98.5	59.7	202.9	130.7
Income tax benefit (provision)	(26.1)	(15.6)	(58.8)	(34.4)
Income from continuing operations	72.4	44.1	144.1	96.3
Income (loss) from discontinued operations, net of tax	0.8	(2.7)	(0.8)	(10.9)
Net income before non-controlling interest	73.2	41.4	143.3	85.4
Less: Net loss attributable to non-controlling interest	(0.1)	(0.9)		(2.8)
Net income attributable to Tempur Sealy International, Inc.	73.3	42.3	143.3	88.2
Comprehensive income attributable to Tempur Sealy International, Inc.	66.6	44.7	143.6	78.9
Current Assets:
Cash and cash equivalents	52.9		52.9			$ 45.8
Accounts receivable, net	431.2		431.2			321.5
Inventories	270.8		270.8			222.3
Prepaid expenses and other current assets	205.6		205.6			215.8
Total Current Assets	960.5		960.5			805.4
Property, plant and equipment, net	431.5		431.5			420.8
Goodwill	730.4		730.4			723.0
Other intangible assets, net	644.0		644.0			649.3
Operating lease right-of-use assets	227.2		227.2
Deferred income taxes	13.6		13.6			22.6
Other non-current assets	95.9		95.9			94.3
Net investment in subsidiaries	0.0		0.0			0.0
Due from affiliates	0.0		0.0			0.0
Total Assets	3,103.1		3,103.1			2,715.4
Current Liabilities:
Accounts payable	276.2		276.2			253.0
Accrued expenses and other current liabilities	486.4		486.4			359.2
Current portion of long-term debt	60.1		60.1			47.1
Income taxes payable	25.3		25.3			9.7
Total Current Liabilities	848.0		848.0			669.0
Long-term debt, net	1,509.5		1,509.5			1,599.1
Long-term operating lease obligations	186.2		186.2
Deferred income taxes	110.1		110.1			117.5
Other non-current liabilities	112.8		112.8			112.3
Due to affiliates	0.0		0.0			0.0
Total Liabilities	2,766.6		2,766.6			2,497.9
Total Stockholders' Equity	336.5	209.5	336.5	209.5	$ 305.9	217.5	$ 157.7	$ 112.5
Total Liabilities and Stockholders' Equity	3,103.1		3,103.1			2,715.4
Supplemental condensed consolidated statements of cash flows [Abstract]
Net cash (used in) provided by operating activities from continuing operations			201.7	130.6
CASH FLOWS FROM INVESTING ACTIVITIES FROM CONTINUING OPERATIONS:
Purchases of property, plant and equipment	(22.0)	(15.3)	(61.9)	(55.8)
Acquisitions, net of cash acquired			(17.1)
Contributions (paid to) received from subsidiaries and affiliates			0.0	0.0
Other			15.0	0.3
Net cash used in investing activities from continuing operations			(64.0)	(55.5)
CASH FLOWS FROM FINANCING ACTIVITIES FROM CONTINUING OPERATIONS:
Proceeds from borrowings under long-term debt obligations			602.5	863.0
Repayments of borrowings under long-term debt obligations			(678.5)	(922.7)
Net activity in investment in and advances from (to) subsidiaries and affiliates			0.0	0.0
Proceeds from exercise of stock options			12.8	4.2
Excess tax benefit from stock-based compensation			12.8
Treasury stock repurchased			(55.5)	(3.5)
Payments of deferred financing costs			0.1	0.0
Other			(6.0)	(4.7)
Net cash used in financing activities from continuing operations			(124.8)	(63.7)
Net cash provided by continuing operations			12.9	11.4
CASH USED IN DISCONTINUED OPERATIONS
Operating cash flows			(1.7)	(17.6)
Investing cash flows			0.0	(0.2)
Financing cash flows			0.0	0.0
Net cash used in discontinued operations			(1.7)	(17.8)
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS			(4.1)	(2.1)
(Decrease)/increase in cash and cash equivalents			7.1	(8.5)
CASH AND CASH EQUIVALENTS, beginning of period			45.8	41.9
CASH AND CASH EQUIVALENTS, end of period	52.9	33.4	52.9	33.4
Cash and cash equivalents	0.0	1.3	0.0	1.3
CASH AND CASH EQUIVALENTS OF CONTINUING OPERATIONS	52.9	32.1	52.9	32.1
Reportable Legal Entities \| Tempur Sealy International, Inc. (Ultimate Parent)
Supplemental condensed consolidated statements of income and comprehensive income [Abstract]
Net sales	0.0	0.0	0.0	0.0
Cost of sales	0.0	0.0	0.0	0.0
Gross profit	0.0	0.0	0.0	0.0
Selling and marketing expenses	2.8	2.2	8.4	6.3
General, administrative and other expenses	4.3	4.6	12.8	14.3
Equity income in earnings of unconsolidated affiliates	0.0	0.0	0.0	0.0
Operating (loss) income	(7.1)	(6.8)	(21.2)	(20.6)
Other expense (income), net:
Third party interest expense, net	14.0	14.9	42.2	44.7
Intercompany interest (income) expense, net	(2.4)	(1.7)	(7.5)	(5.3)
Interest expense (income), net	11.6	13.2	34.7	39.4
Other expense (income), net	0.0	0.0	0.0	0.0
Total other expense, net	11.6	13.2	34.7	39.4
Income (loss) from equity investees	88.8	57.8	189.3	134.1
Income from continuing operations before income taxes	70.1	37.8	133.4	74.1
Income tax benefit (provision)	3.1	3.6	9.9	11.3
Income from continuing operations	73.2	41.4	143.3	85.4
Income (loss) from discontinued operations, net of tax	0.0	0.0	0.0	0.0
Net income before non-controlling interest	73.2	41.4		85.4
Less: Net loss attributable to non-controlling interest	(0.1)	(0.9)		(2.8)
Net income attributable to Tempur Sealy International, Inc.	73.3	42.3	143.3	88.2
Comprehensive income attributable to Tempur Sealy International, Inc.	66.6	44.7	143.6	78.9
Current Assets:
Cash and cash equivalents	0.0		0.0			0.1
Accounts receivable, net	1.0		1.0			0.0
Inventories	0.0		0.0			0.0
Prepaid expenses and other current assets	289.0		289.0			276.9
Total Current Assets	290.0		290.0			277.0
Property, plant and equipment, net	0.0		0.0			0.0
Goodwill	0.0		0.0			0.0
Other intangible assets, net	0.0		0.0			0.0
Operating lease right-of-use assets	0.0		0.0
Deferred income taxes	13.6		13.6			15.0
Other non-current assets	3.8		3.8			0.0
Net investment in subsidiaries	819.7		819.7			661.7
Due from affiliates	382.7		382.7			422.1
Total Assets	1,509.8		1,509.8			1,375.8
Current Liabilities:
Accounts payable	0.0		0.0			0.0
Accrued expenses and other current liabilities	21.4		21.4			6.7
Current portion of long-term debt	0.0		0.0			0.0
Income taxes payable	0.0		0.0			0.0
Total Current Liabilities	21.4		21.4			6.7
Long-term debt, net	1,044.0		1,044.0			1,043.0
Long-term operating lease obligations	0.0		0.0
Deferred income taxes	0.0		0.0			0.0
Other non-current liabilities	0.0		0.0			1.9
Due to affiliates	107.9		107.9			106.7
Total Liabilities	1,173.3		1,173.3			1,158.3
Total Stockholders' Equity	336.5		336.5			217.5
Total Liabilities and Stockholders' Equity	1,509.8		1,509.8			1,375.8
Supplemental condensed consolidated statements of cash flows [Abstract]
Net cash (used in) provided by operating activities from continuing operations			(22.0)	(28.4)
CASH FLOWS FROM INVESTING ACTIVITIES FROM CONTINUING OPERATIONS:
Purchases of property, plant and equipment			0.0	0.0
Acquisitions, net of cash acquired			0.0
Contributions (paid to) received from subsidiaries and affiliates			0.0	0.0
Other			0.0	0.0
Net cash used in investing activities from continuing operations			0.0	0.0
CASH FLOWS FROM FINANCING ACTIVITIES FROM CONTINUING OPERATIONS:
Proceeds from borrowings under long-term debt obligations			0.0	0.0
Repayments of borrowings under long-term debt obligations			0.0	0.0
Net activity in investment in and advances from (to) subsidiaries and affiliates			64.6	27.6
Proceeds from exercise of stock options				4.2
Excess tax benefit from stock-based compensation			12.8
Treasury stock repurchased			(55.5)	(3.5)
Payments of deferred financing costs			0.0
Other			0.0	0.0
Net cash used in financing activities from continuing operations			21.9	28.3
Net cash provided by continuing operations			(0.1)	(0.1)
CASH USED IN DISCONTINUED OPERATIONS
Operating cash flows			0.0	0.0
Investing cash flows			0.0	0.0
Financing cash flows			0.0	0.0
Net cash used in discontinued operations			0.0	0.0
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS			0.0	0.0
(Decrease)/increase in cash and cash equivalents			(0.1)	(0.1)
CASH AND CASH EQUIVALENTS, beginning of period			0.1	0.1
CASH AND CASH EQUIVALENTS, end of period	0.0	0.0	0.0	0.0
Cash and cash equivalents		0.0		0.0
CASH AND CASH EQUIVALENTS OF CONTINUING OPERATIONS		0.0		0.0
Reportable Legal Entities \| Combined Guarantor Subsidiaries
Supplemental condensed consolidated statements of income and comprehensive income [Abstract]
Net sales	641.9	556.6	1,706.3	1,507.6
Cost of sales	366.5	338.6	1,001.1	918.0
Gross profit	275.4	218.0	705.2	589.6
Selling and marketing expenses	119.8	98.2	335.9	296.5
General, administrative and other expenses	57.1	56.3	165.4	154.0
Equity income in earnings of unconsolidated affiliates	0.0	0.0	0.0	0.0
Operating (loss) income	98.5	63.5	203.9	139.1
Other expense (income), net:
Third party interest expense, net	6.4	7.8	21.0	22.3
Intercompany interest (income) expense, net	3.4	3.3	8.8	7.8
Interest expense (income), net	9.8	11.1	29.8	30.1
Other expense (income), net	1.5	(1.5)	(5.1)	(7.1)
Total other expense, net	11.3	9.6	24.7	23.0
Income (loss) from equity investees	21.6	(14.9)	58.0	15.1
Income from continuing operations before income taxes	108.8	39.0	237.2	131.2
Income tax benefit (provision)	(20.0)	18.8	(47.9)	2.9
Income from continuing operations	88.8	57.8	189.3	134.1
Income (loss) from discontinued operations, net of tax	0.0	0.0	0.0	0.0
Net income before non-controlling interest	88.8	57.8		134.1
Less: Net loss attributable to non-controlling interest	0.0	(0.8)		(2.6)
Net income attributable to Tempur Sealy International, Inc.	88.8	58.6	189.3	136.7
Comprehensive income attributable to Tempur Sealy International, Inc.	92.8	58.6	194.8	136.1
Current Assets:
Cash and cash equivalents	14.2		14.2			6.2
Accounts receivable, net	23.1		23.1			15.2
Inventories	210.5		210.5			159.4
Prepaid expenses and other current assets	66.3		66.3			65.4
Total Current Assets	314.1		314.1			246.2
Property, plant and equipment, net	363.8		363.8			350.7
Goodwill	512.1		512.1			508.8
Other intangible assets, net	567.7		567.7			572.7
Operating lease right-of-use assets	179.6		179.6
Deferred income taxes	0.0		0.0			0.0
Other non-current assets	52.5		52.5			49.2
Net investment in subsidiaries	317.5		317.5			210.0
Due from affiliates	135.1		135.1			153.8
Total Assets	2,442.4		2,442.4			2,091.4
Current Liabilities:
Accounts payable	194.7		194.7			186.7
Accrued expenses and other current liabilities	250.3		250.3			143.9
Current portion of long-term debt	56.7		56.7			44.0
Income taxes payable	296.4		296.4			274.7
Total Current Liabilities	798.1		798.1			649.3
Long-term debt, net	431.3		431.3			547.1
Long-term operating lease obligations	152.8		152.8
Deferred income taxes	108.6		108.6			118.0
Other non-current liabilities	56.7		56.7			58.2
Due to affiliates	75.2		75.2			57.1
Total Liabilities	1,622.7		1,622.7			1,429.7
Total Stockholders' Equity	819.7		819.7			661.7
Total Liabilities and Stockholders' Equity	2,442.4		2,442.4			2,091.4
Supplemental condensed consolidated statements of cash flows [Abstract]
Net cash (used in) provided by operating activities from continuing operations			215.1	132.7
CASH FLOWS FROM INVESTING ACTIVITIES FROM CONTINUING OPERATIONS:
Purchases of property, plant and equipment			(53.5)	(46.4)
Acquisitions, net of cash acquired			(9.0)
Contributions (paid to) received from subsidiaries and affiliates			(58.1)	(83.6)
Other			4.8	0.1
Net cash used in investing activities from continuing operations			(115.8)	(129.9)
CASH FLOWS FROM FINANCING ACTIVITIES FROM CONTINUING OPERATIONS:
Proceeds from borrowings under long-term debt obligations			161.9	335.6
Repayments of borrowings under long-term debt obligations			(263.2)	(358.1)
Net activity in investment in and advances from (to) subsidiaries and affiliates			16.0	21.7
Proceeds from exercise of stock options				0.0
Excess tax benefit from stock-based compensation			0.0
Treasury stock repurchased			0.0	0.0
Payments of deferred financing costs			0.0
Other			(6.0)	(3.8)
Net cash used in financing activities from continuing operations			(91.3)	(4.6)
Net cash provided by continuing operations			8.0	(1.8)
CASH USED IN DISCONTINUED OPERATIONS
Operating cash flows			0.0	0.0
Investing cash flows			0.0	0.0
Financing cash flows			0.0	0.0
Net cash used in discontinued operations			0.0	0.0
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS			0.0	0.0
(Decrease)/increase in cash and cash equivalents			8.0	(1.8)
CASH AND CASH EQUIVALENTS, beginning of period			6.2	12.3
CASH AND CASH EQUIVALENTS, end of period	14.2	10.5	14.2	10.5
Cash and cash equivalents		0.0		0.0
CASH AND CASH EQUIVALENTS OF CONTINUING OPERATIONS		10.5		10.5
Reportable Legal Entities \| Combined Non-Guarantor Subsidiaries
Supplemental condensed consolidated statements of income and comprehensive income [Abstract]
Net sales	200.1	197.4	581.3	594.3
Cost of sales	114.9	114.1	330.7	338.5
Gross profit	85.2	83.3	250.6	255.8
Selling and marketing expenses	46.0	48.1	141.2	152.0
General, administrative and other expenses	14.2	13.8	42.6	42.5
Equity income in earnings of unconsolidated affiliates	(3.9)	(3.8)	(10.4)	(11.5)
Operating (loss) income	28.9	25.2	77.2	72.8
Other expense (income), net:
Third party interest expense, net	0.4	1.1	2.5	4.2
Intercompany interest (income) expense, net	(1.0)	(1.6)	(1.3)	(2.5)
Interest expense (income), net	(0.6)	(0.5)	1.2	1.7
Other expense (income), net	(1.4)	2.5	(2.9)	7.4
Total other expense, net	(2.0)	2.0	(1.7)	9.1
Income (loss) from equity investees	0.0	0.0	0.0	0.0
Income from continuing operations before income taxes	30.9	23.2	78.9	63.7
Income tax benefit (provision)	(9.3)	(38.1)	(20.9)	(48.6)
Income from continuing operations	21.6	(14.9)	58.0	15.1
Income (loss) from discontinued operations, net of tax	0.0	0.0	0.0	0.0
Net income before non-controlling interest	21.6	(14.9)		15.1
Less: Net loss attributable to non-controlling interest	(0.1)	(0.1)		(0.2)
Net income attributable to Tempur Sealy International, Inc.	21.7	(14.8)	58.0	15.3
Comprehensive income attributable to Tempur Sealy International, Inc.	11.0	(12.4)	52.8	6.6
Current Assets:
Cash and cash equivalents	38.7		38.7			39.5
Accounts receivable, net	379.2		379.2			303.3
Inventories	60.3		60.3			62.9
Prepaid expenses and other current assets	136.7		136.7			148.1
Total Current Assets	614.9		614.9			553.8
Property, plant and equipment, net	67.7		67.7			70.1
Goodwill	218.3		218.3			214.2
Other intangible assets, net	76.3		76.3			76.6
Operating lease right-of-use assets	47.6		47.6
Deferred income taxes	13.6		13.6			22.6
Other non-current assets	39.6		39.6			45.1
Net investment in subsidiaries	0.0		0.0			0.0
Due from affiliates	24.3		24.3			15.4
Total Assets	1,102.3		1,102.3			997.8
Current Liabilities:
Accounts payable	53.6		53.6			63.3
Accrued expenses and other current liabilities	214.7		214.7			208.6
Current portion of long-term debt	3.4		3.4			3.1
Income taxes payable	15.3		15.3			9.6
Total Current Liabilities	287.0		287.0			284.6
Long-term debt, net	34.2		34.2			9.0
Long-term operating lease obligations	33.4		33.4
Deferred income taxes	15.1		15.1			14.5
Other non-current liabilities	56.1		56.1			52.2
Due to affiliates	359.0		359.0			427.5
Total Liabilities	784.8		784.8			787.8
Total Stockholders' Equity	317.5		317.5			210.0
Total Liabilities and Stockholders' Equity	1,102.3		1,102.3			997.8
Supplemental condensed consolidated statements of cash flows [Abstract]
Net cash (used in) provided by operating activities from continuing operations			6.9	8.7
CASH FLOWS FROM INVESTING ACTIVITIES FROM CONTINUING OPERATIONS:
Purchases of property, plant and equipment			(8.4)	(9.6)
Acquisitions, net of cash acquired			(8.1)
Contributions (paid to) received from subsidiaries and affiliates			58.1	83.6
Other			10.2	0.2
Net cash used in investing activities from continuing operations			51.8	74.2
CASH FLOWS FROM FINANCING ACTIVITIES FROM CONTINUING OPERATIONS:
Proceeds from borrowings under long-term debt obligations			440.6	527.4
Repayments of borrowings under long-term debt obligations			(415.3)	(564.6)
Net activity in investment in and advances from (to) subsidiaries and affiliates			(80.6)	(49.3)
Proceeds from exercise of stock options				0.0
Excess tax benefit from stock-based compensation			0.0
Treasury stock repurchased			0.0	0.0
Payments of deferred financing costs			0.1
Other			0.0	(0.9)
Net cash used in financing activities from continuing operations			(55.4)	(87.4)
Net cash provided by continuing operations			3.3	(4.5)
CASH USED IN DISCONTINUED OPERATIONS
Operating cash flows			0.0	0.0
Investing cash flows			0.0	0.0
Financing cash flows			0.0	0.0
Net cash used in discontinued operations			0.0	0.0
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS			(4.1)	(2.1)
(Decrease)/increase in cash and cash equivalents			(0.8)	(6.6)
CASH AND CASH EQUIVALENTS, beginning of period			39.5	29.5
CASH AND CASH EQUIVALENTS, end of period	38.7	22.9	38.7	22.9
Cash and cash equivalents		1.3		1.3
CASH AND CASH EQUIVALENTS OF CONTINUING OPERATIONS		21.6		21.6
Reclassifications and Eliminations
Supplemental condensed consolidated statements of income and comprehensive income [Abstract]
Net sales	(21.0)	(24.5)	(52.9)	(75.1)
Cost of sales	(21.0)	(23.2)	(52.9)	(67.2)
Gross profit	0.0	(1.3)	0.0	(7.9)
Selling and marketing expenses	0.0	(2.6)	(0.1)	(10.2)
General, administrative and other expenses	(0.3)	(1.5)	(2.1)	(4.8)
Equity income in earnings of unconsolidated affiliates	0.0	0.0	0.0	0.0
Operating (loss) income	0.3	2.8	2.2	7.1
Other expense (income), net:
Third party interest expense, net	0.0	(0.2)	0.0	(1.7)
Intercompany interest (income) expense, net	0.0	0.0	0.0	0.0
Interest expense (income), net	0.0	(0.2)	0.0	(1.7)
Other expense (income), net	1.2	0.4	1.5	(2.1)
Total other expense, net	1.2	0.2	1.5	(3.8)
Income (loss) from equity investees	(110.4)	(42.9)	(247.3)	(149.2)
Income from continuing operations before income taxes	(111.3)	(40.3)	(246.6)	(138.3)
Income tax benefit (provision)	0.1	0.1	0.1	0.0
Income from continuing operations	(111.2)	(40.2)	(246.5)	(138.3)
Income (loss) from discontinued operations, net of tax	0.8	(2.7)	(0.8)	(10.9)
Net income before non-controlling interest	(110.4)	(42.9)		(149.2)
Less: Net loss attributable to non-controlling interest	0.1	0.9		2.8
Net income attributable to Tempur Sealy International, Inc.	(110.5)	(43.8)	(247.3)	(152.0)
Comprehensive income attributable to Tempur Sealy International, Inc.	(103.8)	(46.2)	(247.6)	(142.7)
Current Assets:
Cash and cash equivalents	0.0		0.0			0.0
Accounts receivable, net	27.9		27.9			3.0
Inventories	0.0		0.0			0.0
Prepaid expenses and other current assets	(286.4)		(286.4)			(274.6)
Total Current Assets	(258.5)		(258.5)			(271.6)
Property, plant and equipment, net	0.0		0.0			0.0
Goodwill	0.0		0.0			0.0
Other intangible assets, net	0.0		0.0			0.0
Operating lease right-of-use assets	0.0		0.0
Deferred income taxes	(13.6)		(13.6)			(15.0)
Other non-current assets	0.0		0.0			0.0
Net investment in subsidiaries	(1,137.2)		(1,137.2)			(871.7)
Due from affiliates	(542.1)		(542.1)			(591.3)
Total Assets	(1,951.4)		(1,951.4)			(1,749.6)
Current Liabilities:
Accounts payable	27.9		27.9			3.0
Accrued expenses and other current liabilities	0.0		0.0			0.0
Current portion of long-term debt	0.0		0.0			0.0
Income taxes payable	(286.4)		(286.4)			(274.6)
Total Current Liabilities	(258.5)		(258.5)			(271.6)
Long-term debt, net	0.0		0.0			0.0
Long-term operating lease obligations	0.0		0.0
Deferred income taxes	(13.6)		(13.6)			(15.0)
Other non-current liabilities	0.0		0.0			0.0
Due to affiliates	(542.1)		(542.1)			(591.3)
Total Liabilities	(814.2)		(814.2)			(877.9)
Total Stockholders' Equity	(1,137.2)		(1,137.2)			(871.7)
Total Liabilities and Stockholders' Equity	(1,951.4)		(1,951.4)			$ (1,749.6)
Supplemental condensed consolidated statements of cash flows [Abstract]
Net cash (used in) provided by operating activities from continuing operations			1.7	17.6
CASH FLOWS FROM INVESTING ACTIVITIES FROM CONTINUING OPERATIONS:
Purchases of property, plant and equipment			0.0	0.2
Acquisitions, net of cash acquired			0.0
Contributions (paid to) received from subsidiaries and affiliates			0.0	0.0
Other			0.0	0.0
Net cash used in investing activities from continuing operations			0.0	0.2
CASH FLOWS FROM FINANCING ACTIVITIES FROM CONTINUING OPERATIONS:
Proceeds from borrowings under long-term debt obligations			0.0	0.0
Repayments of borrowings under long-term debt obligations			0.0	0.0
Net activity in investment in and advances from (to) subsidiaries and affiliates			0.0	0.0
Proceeds from exercise of stock options				0.0
Excess tax benefit from stock-based compensation			0.0
Treasury stock repurchased			0.0	0.0
Payments of deferred financing costs			0.0
Other			0.0	0.0
Net cash used in financing activities from continuing operations			0.0	0.0
Net cash provided by continuing operations			1.7	17.8
CASH USED IN DISCONTINUED OPERATIONS
Operating cash flows			(1.7)	(17.6)
Investing cash flows			0.0	(0.2)
Financing cash flows			0.0	0.0
Net cash used in discontinued operations			(1.7)	(17.8)
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS			0.0	0.0
(Decrease)/increase in cash and cash equivalents			0.0	0.0
CASH AND CASH EQUIVALENTS, beginning of period			0.0	0.0
CASH AND CASH EQUIVALENTS, end of period	$ 0.0	0.0	$ 0.0	0.0
Cash and cash equivalents		0.0		0.0
CASH AND CASH EQUIVALENTS OF CONTINUING OPERATIONS		$ 0.0		$ 0.0

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is involved in various legal and administrative proceedings incidental to the operations of its business. The Company believes that the outcome of all such pending proceedings in the aggregate will not have a material adverse effect on its business, financial condition, liquidity, or operating results.

Label	Element	Value
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (3,400,000)
Retained Earnings [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	(2,900,000)
AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (500,000)

Recently Issued Accounting Pronouncements	9 Months Ended
Recently Issued Accounting Pronouncements	Sep. 30, 2019
Accounting Policies [Abstract]
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Credit Losses In June 2016, the FASB issued ("ASU") No. 2016-13, Financial Instruments - Credit Losses (Topic 326), which requires entities to estimate expected lifetime credit losses on financial assets and provide expanded disclosures. This ASU is effective on January 1, 2020. In transition, entities are required to use a modified retrospective approach for the adoption of the new standard. The ASU replaces the incurred loss impairment methodology with one that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company is currently evaluating this ASU to determine the impact it will have on the Company's Condensed Consolidated Financial Statements and does not expect it will have a material impact on the consolidated financial statements or disclosures.

Summary of Significant Accounting Policies - Changes In Accured Sales Returns (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019 USD ($)
Changes in Accrued Sales Returns [Roll Forward]
Beginning balance	$ 22.0
Ending balance	27.2
Sales Returns
Changes in Accrued Sales Returns [Roll Forward]
Beginning balance	34.3
Amounts accrued	81.5
Returns charged to accrual	(76.0)
Ending balance	$ 39.8

Summary of Significant Accounting Policies - Warranty Activity (Details) - Warranty Reserves $ in Millions	9 Months Ended
	Sep. 30, 2019 USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 36.4
Amounts accrued	23.6
Warranties charged to accrual	(18.8)
Ending balance	$ 41.2

Guarantor/Non-Guarantor Financial Information - Narrative (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Ownership percentage by parent (in hundredths)	100.00%
2023 Senior Notes
Debt Instrument [Line Items]
Senior notes	$ 450,000,000.0	$ 450,000,000.0
2026 Senior Notes
Debt Instrument [Line Items]
Senior notes	$ 600,000,000.0	$ 600,000,000.0