Subsequent Events

12 Months Ended

Dec. 31, 2023

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

In the first quarter of 2024, we committed to a restructuring plan, primarily associated with our Bedding Products segment and, to a lesser extent, our Furniture, Flooring & Textile Products segment (the “Restructuring Plan” or “Plan”), which is expected to be substantially complete by the end of 2025.

In the Bedding Products segment we plan to consolidate between 15 and 20 production and distribution facilities (out of 50) and a small number of production facilities in our Furniture, Flooring & Textile Products segment.

We expect to incur restructuring and restructuring-related costs between $65.0 and $85.0, of which approximately half are anticipated to be incurred in 2024 and the remainder in 2025. This includes $30.0 to $40.0 in future cash costs, the majority of which are anticipated to be incurred in 2024. The expected breakout of these costs is shown below:

	Total Amount Expected to be Incurred
Restructuring
Employee termination costs	$10.0 to $15.0
Facility closure, asset relocation, and other	20.0 to 25.0
Restructuring-related costs
Accelerated depreciation or long-lived asset impairments	25.0 to 30.0
Inventory obsolescence and other	10.0 to 15.0
Total estimated pretax cost	$65.0 to $85.0