CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($) shares in Millions, $ in Millions |
3 Months Ended | 6 Months Ended | ||||||
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Jun. 30, 2016 |
Jun. 30, 2015 |
Jun. 30, 2016 |
Jun. 30, 2015 |
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Income Statement [Abstract] | ||||||||
Net sales | $ 804.4 | $ 764.4 | $ 1,525.4 | $ 1,503.9 | ||||
Cost of sales | 467.5 | 466.9 | 897.5 | 927.7 | ||||
Gross profit | 336.9 | 297.5 | 627.9 | 576.2 | ||||
Selling and marketing expenses | 172.8 | 168.6 | 322.9 | 322.4 | ||||
General, administrative and other expenses | 71.9 | 85.1 | 143.6 | 162.8 | ||||
Equity income in earnings of unconsolidated affiliates | (3.4) | (3.4) | (6.2) | (6.4) | ||||
Royalty income, net of royalty expense | (4.6) | (4.8) | (9.3) | (9.0) | ||||
Operating income | 100.2 | 52.0 | 176.9 | 106.4 | ||||
Other expense, net: | ||||||||
Interest expense, net | 23.1 | 20.5 | 44.5 | 40.9 | ||||
Loss on extinguishment of debt | 47.2 | 0.0 | 47.2 | 0.0 | ||||
Other expense (income), net | 0.7 | 2.2 | (0.3) | 0.9 | ||||
Total other expense, net | 71.0 | 22.7 | 91.4 | 41.8 | ||||
Income before income taxes | 29.2 | 29.3 | 85.5 | 64.6 | ||||
Income tax provision | (9.2) | (8.3) | (26.5) | (18.6) | ||||
Net income before non-controlling interest | 20.0 | 21.0 | 59.0 | 46.0 | ||||
Less: Net income (loss) attributable to non-controlling interest | [1],[2] | (1.3) | (0.2) | (1.9) | 1.4 | |||
Net income attributable to Tempur Sealy International, Inc. | $ 21.3 | $ 21.2 | $ 60.9 | $ 44.6 | ||||
Earnings per common share: | ||||||||
Basic (in dollars per share) | $ 0.35 | $ 0.35 | $ 1.00 | $ 0.73 | ||||
Diluted (in dollars per share) | $ 0.35 | $ 0.34 | $ 0.99 | $ 0.72 | ||||
Weighted average common shares outstanding: | ||||||||
Basic (in shares) | 60.2 | 61.3 | 61.1 | 61.1 | ||||
Diluted (in shares) | 60.8 | 62.4 | 61.7 | 62.3 | ||||
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. And the total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. No definition available.
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- Definition Income (Loss) from Equity Method Investments, Average Rate No definition available.
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- Definition Revenue earned during the period from the leasing or otherwise lending to a third party the entity's rights or title to certain property. Royalty revenue is derived from a percentage or stated amount of sales proceeds or revenue generated by the third party using the entity's property. Examples of property from which royalties may be derived include patents and oil and mineral rights. Net of offsetting royalty expenses. No definition available.
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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