Guarantor/Non-Guarantor Financial Information (Tables)
|
12 Months Ended |
Dec. 31, 2018 |
Guarantor/Non-Guarantor Financial Information |
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Schedule of Supplemental Condensed Consolidating Statements of Operations |
TEMPUR SEALY INTERNATIONAL, INC. Supplemental Consolidated Statements of Income and Comprehensive Income Year Ended December 31, 2018 (in millions)
| | | | | | | | | | | | | | | | | | | | | | Tempur Sealy International, Inc. (Ultimate Parent) | | Combined Guarantor Subsidiaries | | Combined Non-Guarantor Subsidiaries | | Reclassifications and Eliminations | | Consolidated | Net sales | $ | — |
| | $ | 2,000.9 |
| | $ | 800.5 |
| | $ | (98.5 | ) | | $ | 2,702.9 |
| Cost of sales | — |
| | 1,208.3 |
| | 464.3 |
| | (90.4 | ) | | 1,582.2 |
| Gross profit | — |
| | 792.6 |
| | 336.2 |
| | (8.1 | ) | | 1,120.7 |
| Selling and marketing expenses | 8.4 |
| | 392.0 |
| | 199.8 |
| | (12.4 | ) | | 587.8 |
| General, administrative and other expenses | 17.8 |
| | 225.8 |
| | 57.4 |
| | (6.8 | ) | | 294.2 |
| Equity income in earnings of unconsolidated affiliates | — |
| | — |
| | (17.6 | ) | | — |
| | (17.6 | ) | Operating (loss) income | (26.2 | ) | | 174.8 |
| | 96.6 |
| | 11.1 |
| | 256.3 |
| | | | | | | | | | | Other expense, net: | | | | | | | | | | Third party interest expense, net | 59.2 |
| | 30.2 |
| | 4.6 |
| | (1.7 | ) | | 92.3 |
| Intercompany interest (income) expense, net | (6.9 | ) | | 10.8 |
| | (3.9 | ) | | — |
| | — |
| Interest expense, net | 52.3 |
| | 41.0 |
| | 0.7 |
| | (1.7 | ) | | 92.3 |
| Other (income) expense, net | — |
| | (9.9 | ) | | 13.9 |
| | (5.0 | ) | | (1.0 | ) | Total other expense, net | 52.3 |
| | 31.1 |
| | 14.6 |
| | (6.7 | ) | | 91.3 |
| | | | | | | | | | | Income from equity investees | 162.0 |
| | 26.6 |
| | — |
| | (188.6 | ) | | — |
| | | | | | | | | | | Income from continuing operations before income taxes | 83.5 |
| | 170.3 |
| | 82.0 |
| | (170.8 | ) | | 165.0 |
| Income tax benefit (provision) | 14.1 |
| | (8.3 | ) | | (55.4 | ) | | — |
| | (49.6 | ) | Income from continuing operations | 97.6 |
| | 162.0 |
| | 26.6 |
| | (170.8 | ) | | 115.4 |
| Loss from discontinued operations, net of tax | — |
| | — |
| | — |
| | (17.8 | ) | | (17.8 | ) | Net income before non-controlling interests | 97.6 |
| | 162.0 |
| | 26.6 |
| | (188.6 | ) | | 97.6 |
| Less: Net loss attributable to non-controlling interest | (2.9 | ) | | (2.6 | ) | | (0.3 | ) | | 2.9 |
| | (2.9 | ) | Net income attributable to Tempur Sealy International, Inc. | $ | 100.5 |
| | $ | 164.6 |
| | $ | 26.9 |
| | $ | (191.5 | ) | | $ | 100.5 |
| | | | | | | | | | | Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 80.7 |
| | $ | 164.2 |
| | $ | 7.5 |
| | $ | (171.7 | ) | | $ | 80.7 |
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TEMPUR SEALY INTERNATIONAL, INC. Supplemental Consolidated Statements of Income and Comprehensive Income Year Ended December 31, 2017 (in millions)
| | | | | | | | | | | | | | | | | | | | | | Tempur Sealy International, Inc. (Ultimate Parent) | | Combined Guarantor Subsidiaries | | Combined Non-Guarantor Subsidiaries | | Reclassifications and Eliminations | | Consolidated | Net sales | $ | — |
| | $ | 1,961.2 |
| | $ | 862.5 |
| | $ | (123.1 | ) | | $ | 2,700.6 |
| Cost of sales | — |
| | 1,185.4 |
| | 497.6 |
| | (103.4 | ) | | 1,579.6 |
| Gross profit | — |
| | 775.8 |
| | 364.9 |
| | (19.7 | ) | | 1,121.0 |
| Selling and marketing expenses | 5.6 |
| | 406.8 |
| | 188.9 |
| | (15.2 | ) | | 586.1 |
| General, administrative and other expenses | 17.5 |
| | 176.6 |
| | 78.9 |
| | (11.6 | ) | | 261.4 |
| Customer termination charges, net | (8.4 | ) | | 21.7 |
| | 1.1 |
| | — |
| | 14.4 |
| Equity income in earnings of unconsolidated affiliates | — |
| | — |
| | (15.6 | ) | | — |
| | (15.6 | ) | Royalty income, net of royalty expense | — |
| | (20.8 | ) | | — |
| | — |
| | (20.8 | ) | Operating (loss) income | (14.7 | ) | | 191.5 |
| | 111.6 |
| | 7.1 |
| | 295.5 |
| | | | | | | | | | | Other expense, net: | | | | | | | | | | Third party interest expense, net | 59.6 |
| | 26.0 |
| | 22.4 |
| | (20.7 | ) | | 87.3 |
| Intercompany interest (income) expense, net | (4.7 | ) | | 8.3 |
| | (3.6 | ) | | — |
| | — |
| Interest expense, net | 54.9 |
| | 34.3 |
| | 18.8 |
| | (20.7 | ) | | 87.3 |
| Other (income) expense, net | — |
| | (17.2 | ) | | 9.2 |
| | 0.8 |
| | (7.2 | ) | Total other expense, net | 54.9 |
| | 17.1 |
| | 28.0 |
| | (19.9 | ) | | 80.1 |
| | | | | | | | | | | Income from equity investees | 193.1 |
| | 51.3 |
| | — |
| | (244.4 | ) | | — |
| | | | | | | | | | | Income from continuing operations before income taxes | 123.5 |
| | 225.7 |
| | 83.6 |
| | (217.4 | ) | | 215.4 |
| Income tax benefit (provision) | 17.2 |
| | (32.6 | ) | | (32.3 | ) | | 3.9 |
| | (43.8 | ) | Income from continuing operations | 140.7 |
| | 193.1 |
| | 51.3 |
| | (213.5 | ) | | 171.6 |
| Loss from discontinued operations, net of tax | — |
| | — |
| | — |
| | (30.9 | ) | | (30.9 | ) | Net income before non-controlling interests | 140.7 |
| | 193.1 |
| | 51.3 |
| | (244.4 | ) | | 140.7 |
| Less: Net loss attributable to non-controlling interests | (10.7 | ) | | (5.2 | ) | | (5.5 | ) | | 10.7 |
| | (10.7 | ) | Net income attributable to Tempur Sealy International, Inc. | $ | 151.4 |
| | $ | 198.3 |
| | $ | 56.8 |
| | $ | (255.1 | ) | | $ | 151.4 |
| | | | | | | | | | | Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 179.4 |
| | $ | 193.0 |
| | $ | 89.9 |
| | $ | (282.9 | ) | | $ | 179.4 |
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TEMPUR SEALY INTERNATIONAL, INC. Supplemental Consolidated Statements of Income and Comprehensive Income Year Ended December 31, 2016 (in millions) | | | | | | | | | | | | | | | | | | | | | | Tempur Sealy International, Inc. (Ultimate Parent) | | Combined Guarantor Subsidiaries | | Combined Non-Guarantor Subsidiaries | | Reclassifications and Eliminations | | Consolidated | Net sales | $ | — |
| | $ | 2,355.9 |
| | $ | 837.6 |
| | $ | (113.8 | ) | | $ | 3,079.7 |
| Cost of sales | — |
| | 1,409.4 |
| | 476.6 |
| | (95.8 | ) | | 1,790.2 |
| Gross profit | — |
| | 946.5 |
| | 361.0 |
| | (18.0 | ) | | 1,289.5 |
| Selling and marketing expenses | 2.9 |
| | 458.6 |
| | 187.0 |
| | (13.0 | ) | | 635.5 |
| General, administrative and other expenses | 14.8 |
| | 186.8 |
| | 79.8 |
| | (8.0 | ) | | 273.4 |
| Equity income in earnings of unconsolidated affiliates | — |
| | — |
| | (13.3 | ) | | — |
| | (13.3 | ) | Royalty income, net of royalty expense | — |
| | (19.5 | ) | | — |
| | — |
| | (19.5 | ) | Operating (loss) income | (17.7 | ) | | 320.6 |
| | 107.5 |
| | 3.0 |
| | 413.4 |
| | | | | | | | | | | Other expense, net: | | | | | | | | | | Third party interest expense, net | 66.0 |
| | 15.4 |
| | 10.2 |
| | (8.7 | ) | | 82.9 |
| Intercompany interest (income) expense, net | (4.1 | ) | | (0.1 | ) | | 4.2 |
| | — |
| | — |
| Interest expense, net | 61.9 |
| | 15.3 |
| | 14.4 |
| | (8.7 | ) | | 82.9 |
| Loss on extinguishment of debt | 34.3 |
| | 12.9 |
| | — |
| | — |
| | 47.2 |
| Other (income) expense, net | — |
| | (1.4 | ) | | 1.2 |
| | (0.1 | ) | | (0.3 | ) | Total other expense, net | 96.2 |
| | 26.8 |
| | 15.6 |
| | (8.8 | ) | | 129.8 |
| | | | | | | | | | | Income from equity investees | 260.1 |
| | 65.3 |
| | — |
| | (325.4 | ) | | — |
| | | | | | | | | | | Income from continuing operations before income taxes | 146.2 |
| | 359.1 |
| | 91.9 |
| | (313.6 | ) | | 283.6 |
| Income tax benefit (provision) | 38.8 |
| | (99.0 | ) | | (26.6 | ) | | 0.5 |
| | (86.3 | ) | Income from continuing operations | 185.0 |
| | 260.1 |
| | 65.3 |
| | (313.1 | ) | | 197.3 |
| Loss from discontinued operations | — |
| | — |
| | — |
| | (12.3 | ) | | (12.3 | ) | Net income before non-controlling interests | 185.0 |
| | 260.1 |
| | 65.3 |
| | (325.4 | ) | | 185.0 |
| Less: Net income attributable to non-controlling interests | (5.6 | ) | | — |
| | (5.6 | ) | | 5.6 |
| | (5.6 | ) | Net income attributable to Tempur Sealy International, Inc. | $ | 190.6 |
| | $ | 260.1 |
| | $ | 70.9 |
| | $ | (331.0 | ) | | $ | 190.6 |
| | | | | | | | | | | Comprehensive income attributable to Tempur Sealy International, Inc. | $ | 183.5 |
| | $ | 260.4 |
| | $ | 63.5 |
| | $ | (323.9 | ) | | $ | 183.5 |
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Schedule of Supplemental Condensed Consolidating Balance Sheets |
TEMPUR SEALY INTERNATIONAL, INC. Supplemental 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 |
| Income taxes payable | — |
| | 274.7 |
| | 9.6 |
| | (274.6 | ) | | 9.7 |
| Current portion of long-term debt | — |
| | 44.0 |
| | 3.1 |
| | — |
| | 47.1 |
| 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 Stockholder's 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 |
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TEMPUR SEALY INTERNATIONAL, INC. Supplemental Consolidated Balance Sheets December 31, 2017 (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 |
| | $ | 12.3 |
| | $ | 29.5 |
| | $ | (0.8 | ) | | $ | 41.1 |
| Accounts receivable, net | — |
| | 5.1 |
| | 322.2 |
| | (16.5 | ) | | 310.8 |
| Inventories | — |
| | 103.4 |
| | 79.6 |
| | (3.9 | ) | | 179.1 |
| Prepaid expenses and other current assets | 261.0 |
| | 50.6 |
| | 13.4 |
| | (261.6 | ) | | 63.4 |
| Current assets of discontinued operations | — |
| | — |
| | — |
| | 13.0 |
| | 13.0 |
| Total Current Assets | 261.1 |
| | 171.4 |
| | 444.7 |
| | (269.8 | ) | | 607.4 |
| Property, plant and equipment, net | — |
| | 360.4 |
| | 74.7 |
| | (1.6 | ) | | 433.5 |
| Goodwill | — |
| | 507.6 |
| | 225.5 |
| | (0.4 | ) | | 732.7 |
| Other intangible assets, net | — |
| | 577.5 |
| | 89.9 |
| | (0.3 | ) | | 667.1 |
| Deferred income taxes | 11.8 |
| | — |
| | 23.6 |
| | (12.0 | ) | | 23.4 |
| Other non-current assets | — |
| | 47.2 |
| | 180.2 |
| | (0.1 | ) | | 227.3 |
| Net investment in subsidiaries | 2,381.0 |
| | 127.7 |
| | — |
| | (2,508.7 | ) | | — |
| Due from affiliates | 87.2 |
| | 1,975.9 |
| | 15.6 |
| | (2,078.7 | ) | | — |
| Non-current assets of discontinued operations | — |
| | — |
| | — |
| | 2.6 |
| | 2.6 |
| Total Assets | $ | 2,741.1 |
| | $ | 3,767.7 |
| | $ | 1,054.2 |
| | $ | (4,869.0 | ) | | $ | 2,694.0 |
| | | | | | | | | | | LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY | | | | | | | | | | | | | | | | | | | Current Liabilities: | | | | | | | | | | Accounts payable | $ | — |
| | $ | 174.6 |
| | $ | 76.2 |
| | $ | (22.5 | ) | | $ | 228.3 |
| Accrued expenses and other current liabilities | 7.6 |
| | 144.2 |
| | 82.4 |
| | (11.9 | ) | | 222.3 |
| Income taxes payable | — |
| | 279.3 |
| | 10.0 |
| | (261.1 | ) | | 28.2 |
| Current portion of long-term debt | — |
| | 35.7 |
| | 36.7 |
| | — |
| | 72.4 |
| Current liabilities of discontinued operations | — |
| | — |
| | — |
| | 25.7 |
| | 25.7 |
| Total Current Liabilities | 7.6 |
| | 633.8 |
| | 205.3 |
| | (269.8 | ) | | 576.9 |
| Long-term debt, net | 1,041.6 |
| | 589.4 |
| | 49.7 |
| | — |
| | 1,680.7 |
| Deferred income taxes | — |
| | 107.8 |
| | 18.3 |
| | (11.8 | ) | | 114.3 |
| Other non-current liabilities | — |
| | 55.2 |
| | 152.2 |
| | (1.3 | ) | | 206.1 |
| Due to affiliates | 1,577.2 |
| | 0.5 |
| | 501.0 |
| | (2,078.7 | ) | | — |
| Non-current liabilities of discontinued operations | — |
| | — |
| | — |
| | 1.3 |
| | 1.3 |
| Total Liabilities | 2,626.4 |
| | 1,386.7 |
| | 926.5 |
| | (2,360.3 | ) | | 2,579.3 |
| | | | | | | | | | | Redeemable non-controlling interest | 2.2 |
| | — |
| | 2.2 |
| | (2.2 | ) | | 2.2 |
| | | | | | | | | | | Total Stockholders’ Equity | 112.5 |
| | 2,381.0 |
| | 125.5 |
| | (2,506.5 | ) | | 112.5 |
| Total Liabilities, Redeemable Non-Controlling Interest and Stockholders’ Equity | $ | 2,741.1 |
| | $ | 3,767.7 |
| | $ | 1,054.2 |
| | $ | (4,869.0 | ) | | $ | 2,694.0 |
|
|
Schedule of Supplemental Condensed Consolidating Statements of Cash Flows |
TEMPUR SEALY INTERNATIONAL, INC. Supplemental Consolidated Statements of Cash Flows Year Ended December 31, 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 | $ | (55.8 | ) | | $ | 166.6 |
| | $ | 72.3 |
| | $ | 24.4 |
| | $ | 207.5 |
| | | | | | | | | | | CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | Contributions (paid to) received from subsidiaries and affiliates | — |
| | (75.8 | ) | | 75.8 |
| | — |
| | — |
| Purchases of property, plant and equipment | — |
| | (58.8 | ) | | (15.3 | ) | | 0.5 |
| | (73.6 | ) | Other | — |
| | 0.1 |
| | 4.9 |
| | (2.6 | ) | | 2.4 |
| Net cash (used in) provided by investing activities from continuing operations | — |
| | (134.5 | ) | | 65.4 |
| | (2.1 | ) | | (71.2 | ) | | | | | | | | | | | CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | Proceeds from borrowings under long-term debt obligations | — |
| | 414.0 |
| | 680.9 |
| | — |
| | 1,094.9 |
| Repayments of borrowings under long-term debt obligations | — |
| | (444.0 | ) | | (751.8 | ) | | — |
| | (1,195.8 | ) | Net activity in investment in and advances from (to) subsidiaries and affiliates | 55.8 |
| | (3.0 | ) | | (52.8 | ) | | — |
| | — |
| Proceeds from exercise of stock options | 4.6 |
| | — |
| | — |
| | — |
| | 4.6 |
| Treasury stock repurchased | (4.6 | ) | | — |
| | — |
| | — |
| | (4.6 | ) | Other | — |
| | (5.2 | ) | | (0.9 | ) | | — |
| | (6.1 | ) | Net cash provided by (used in) financing activities from continuing operations | 55.8 |
| | (38.2 | ) | | (124.6 | ) | | — |
| | (107.0 | ) | | | | | | | | | | | Net cash (used in) provided by continuing operations | — |
| | (6.1 | ) | | 13.1 |
| | 22.3 |
| | 29.3 |
| | | | | | | | | | | CASH USED IN DISCONTINUED OPERATIONS | | | | | | | | | | Operating cash flows, net | — |
| | — |
| | — |
| | (24.4 | ) | | (24.4 | ) | Investing cash flows, net | — |
| | — |
| | — |
| | 2.1 |
| | 2.1 |
| Financing cash flows, net | — |
| | — |
| | — |
| | — |
| | — |
| Net cash used in discontinued operations | — |
| | — |
| | — |
| | (22.3 | ) | | (22.3 | ) | | | | | | | | | | | NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | — |
| | — |
| | (3.1 | ) | | — |
| | (3.1 | ) | (Decrease) increase in cash and cash equivalents | — |
| | (6.1 | ) | | 10.0 |
| | — |
| | 3.9 |
| CASH AND CASH EQUIVALENTS, beginning of period | 0.1 |
| | 12.3 |
| | 29.5 |
| | — |
| | 41.9 |
| CASH AND CASH EQUIVALENTS, end of period | $ | 0.1 |
| | $ | 6.2 |
| | $ | 39.5 |
| | $ | — |
| | $ | 45.8 |
|
TEMPUR SEALY INTERNATIONAL, INC. Supplemental Consolidated Statements of Cash Flows Year Ended December 31, 2017 (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 | $ | (55.3 | ) | | $ | 376.9 |
| | $ | (98.7 | ) | | $ | 33.6 |
| | $ | 256.5 |
| | | | | | | | | | | CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | Contributions (paid to) received from subsidiaries and affiliates | — |
| | (129.7 | ) | | 129.7 |
| | — |
| | — |
| Purchases of property, plant and equipment | — |
| | (55.8 | ) | | (11.2 | ) | | 0.4 |
| | (66.6 | ) | Other | — |
| | 0.8 |
| | 4.1 |
| | (4.0 | ) | | 0.9 |
| Net cash (used in) provided by investing activities from continuing operations | — |
| | (184.7 | ) | | 122.6 |
| | (3.6 | ) | | (65.7 | ) | | | | | | | | | | | CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | Proceeds from borrowings under long-term debt obligations |
| | 603.9 |
| | 729.0 |
| | — |
| | 1,332.9 |
| Repayments of borrowings under long-term debt obligations |
| | (790.8 | ) | | (680.7 | ) | | — |
| | (1,471.5 | ) | Net activity in investment in and advances from (to) subsidiaries and affiliates | 87.5 |
| | 0.5 |
| | (88.0 | ) | | — |
| | — |
| Proceeds from exercise of stock options | 12.8 |
| | — |
| | — |
| | — |
| | 12.8 |
| Treasury stock repurchased | (44.9 | ) | | — |
| | — |
| | — |
| | (44.9 | ) | Payment of deferred financing costs |
| |
| | (0.5 | ) | | — |
| | (0.5 | ) | Other | — |
| | (1.4 | ) | | (2.6 | ) | | — |
| | (4.0 | ) | Net cash provided by (used in) financing activities from continuing operations | 55.4 |
| | (187.8 | ) | | (42.8 | ) | | — |
| | (175.2 | ) | | | | | | | | | | | Net cash provided by (used in) continuing operations | 0.1 |
| | 4.4 |
| | (18.9 | ) | | 30.0 |
| | 15.6 |
| | | | | | | | | | | CASH USED IN DISCONTINUED OPERATIONS | | | | | | | | | | Operating cash flows, net | — |
| | — |
| | — |
| | (33.6 | ) | | (33.6 | ) | Investing cash flow, net | — |
| | — |
| | — |
| | 3.6 |
| | 3.6 |
| Financing cash flows, net | — |
| | — |
| | — |
| | — |
| | — |
| Net cash used in discontinued operations | — |
| | — |
| | — |
| | (30.0 | ) | | (30.0 | ) | | | | | | | | | | | NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | — |
| | — |
| | (9.4 | ) | | — |
| | (9.4 | ) | Increase (decrease) in cash and cash equivalents | 0.1 |
| | 4.4 |
| | (28.3 | ) | | — |
| | (23.8 | ) | CASH AND CASH EQUIVALENTS, beginning of period | — |
| | 7.9 |
| | 57.8 |
| | — |
| | 65.7 |
| CASH AND CASH EQUIVALENTS, end of period | 0.1 |
| | 12.3 |
| | 29.5 |
| | — |
| | 41.9 |
| LESS: CASH AND CASH EQUIVALENTS OF DISCONTINUED OPERATIONS | — |
| | — |
| | 0.8 |
| | — |
| | 0.8 |
| CASH AND CASH EQUIVALENTS OF CONTINUING OPERATIONS | $ | 0.1 |
| | $ | 12.3 |
| | $ | 28.7 |
| | $ | — |
| | $ | 41.1 |
|
TEMPUR SEALY INTERNATIONAL, INC. Supplemental Consolidated Statements of Cash Flows Year Ended December 31, 2016 (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 | $ | (63.1 | ) | | $ | 110.7 |
| | $ | 117.9 |
| | $ | 2.6 |
| | $ | 168.1 |
| | | | | | | | | | | CASH FLOWS FROM INVESTING ACTIVITIES: | | | | | | | | | | Contributions (paid to) received from subsidiaries and affiliates | — |
| | (76.7 | ) | | 76.7 |
| | — |
| | — |
| Purchases of property, plant and equipment | — |
| | (43.0 | ) | | (19.4 | ) | | 0.5 |
| | (61.9 | ) | Net cash (used in) provided by investing activities from continuing operations | — |
| | (119.7 | ) | | 57.3 |
| | 0.5 |
| | (61.9 | ) | | | | | | | | | | | CASH FLOWS FROM FINANCING ACTIVITIES: | | | | | | | | | | Proceeds from borrowings under long-term debt obligations | 600.0 |
| | 1,523.6 |
| | 109.7 |
| | — |
| | 2,233.3 |
| Repayments of borrowings under long-term debt obligations | (375.0 | ) | | (1,406.2 | ) | | (86.5 | ) | | — |
| | (1,867.7 | ) | Net activity in investment in and advances from (to) subsidiaries and affiliates | 383.1 |
| | (212.5 | ) | | (170.6 | ) | | — |
| | — |
| Proceeds from exercise of stock options | 15.7 |
| | — |
| | — |
| | — |
| | 15.7 |
| Excess tax benefit from stock-based compensation | 7.0 |
| | — |
| | — |
| | — |
| | 7.0 |
| Treasury stock repurchased | (535.0 | ) | | — |
| | — |
| | — |
| | (535.0 | ) | Payment of deferred financing costs | (3.1 | ) | | (3.8 | ) | | — |
| | — |
| | (6.9 | ) | Fees paid to lenders | (6.0 | ) | | (1.8 | ) | | — |
| | — |
| | (7.8 | ) | Call premium on 2020 Senior Notes | (23.6 | ) | | — |
| | — |
| | — |
| | (23.6 | ) | Other | — |
| | (2.1 | ) | | 2.0 |
| | — |
| | (0.1 | ) | Net cash provided by (used in) financing activities from continuing operations | 63.1 |
| | (102.8 | ) | | (145.4 | ) | | — |
| | (185.1 | ) | | | | | | | | | | | Net cash (used in) provided by continuing operations | — |
| | (111.8 | ) | | 29.8 |
| | 3.1 |
| | (78.9 | ) | | | | | | | | | | | CASH USED IN DISCONTINUED OPERATIONS | | | | | | | | | | Operating cash flows, net | — |
| | — |
| | — |
| | (2.6 | ) | | (2.6 | ) | Investing cash flow, net | — |
| | — |
| | — |
| | (0.5 | ) | | (0.5 | ) | Financing cash flows, net | — |
| | — |
| | — |
| | — |
| | — |
| Net cash used in discontinued operations | — |
| | — |
| | — |
| | (3.1 | ) | | (3.1 | ) | | | | | | | | | | | NET EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | — |
| | — |
| | (6.2 | ) | | — |
| | (6.2 | ) | (Decrease) increase in cash and cash equivalents | — |
| | (111.8 | ) | | 23.6 |
| | — |
| | (88.2 | ) | CASH AND CASH EQUIVALENTS, beginning of period | — |
| | 119.7 |
| | 34.2 |
| | — |
| | 153.9 |
| CASH AND CASH EQUIVALENTS, end of period | — |
| | 7.9 |
| | 57.8 |
| | — |
| | 65.7 |
| LESS: CASH AND CASH EQUIVALENTS OF DISCONTINUED OPERATIONS | — |
| | — |
| | 1.1 |
| | — |
| | 1.1 |
| CASH AND CASH EQUIVALENTS OF CONTINUING OPERATIONS | $ | — |
| | $ | 7.9 |
| | $ | 56.7 |
| | $ | — |
| | $ | 64.6 |
|
|