LEGGETT & PLATT INC

CIK:0000058492|SEC Filings

Consolidated Condensed Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net trade sales	$ 999.7	$ 1,058.0	$ 1,917.9	$ 2,080.1
Cost of goods sold	796.5	865.4	1,544.0	1,697.5
Gross profit	203.2	192.6	373.9	382.6
Selling and administrative expenses	119.8	118.4	241.3	242.0
Amortization of intangibles	3.1	3.6	6.7	8.6
Net gain on disposal of assets and businesses	(11.6)	(19.3)	(21.0)	(21.4)
Somnigroup International Inc. merger costs (See Note A)	10.1	0.0	13.6	0.0
Other expense (income), net	1.7	(0.5)	8.7	0.1
Earnings before interest and income taxes	80.1	90.4	124.6	153.3
Interest expense	14.7	20.5	29.2	39.3
Interest income	3.0	1.8	4.9	2.8
Earnings before income taxes	68.4	71.7	100.3	116.8
Income taxes	21.3	19.2	33.2	33.7
Net earnings	47.1	52.5	67.1	83.1
(Earnings) attributable to noncontrolling interest, net of tax	0.0	0.0	0.0	0.0
Net earnings attributable to Leggett & Platt, Inc. common shareholders	$ 47.1	$ 52.5	$ 67.1	$ 83.1
Net earnings per share attributable to Leggett & Platt, Inc. common shareholders
Basic (in usd per share)	$ 0.34	$ 0.38	$ 0.48	$ 0.60
Diluted (in usd per share)	$ 0.33	$ 0.38	$ 0.47	$ 0.60
Weighted average shares outstanding
Basic (in shares)	140.0	138.5	139.6	138.2
Diluted (in shares)	141.6	139.6	141.3	139.1

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating Activities
Net earnings	$ 67.1	$ 83.1
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	49.3	52.0
Amortization of intangibles and supply agreements	7.4	9.3
Long-lived asset impairment	3.0	1.2
Increase in provision for losses on accounts receivable	2.9	1.8
Write-down of inventories	7.1	8.1
Net gain from disposal of assets and businesses	(21.0)	(21.4)
Deferred income tax benefit (expense)	5.5	(1.6)
Stock-based compensation	15.2	12.5
Other, net	(0.3)	(6.4)
Changes in working capital, excluding effects from acquisitions and divestitures:
Accounts and other receivables	(103.2)	(18.1)
Inventories	(25.5)	17.2
Other current assets	(7.9)	(1.7)
Accounts payable	1.6	(14.6)
Accrued expenses and other current liabilities	(11.5)	(30.6)
Net Cash (Used for) Provided by Operating Activities	(10.3)	90.8
Investing Activities
Additions to property, plant and equipment	(44.8)	(21.8)
Proceeds from disposal of Aerospace Products Group	4.2	0.0
Proceeds from disposals of assets and businesses	22.7	29.1
Other, net	(1.0)	3.0
Net Cash (Used for) Provided by Investing Activities	(18.9)	10.3
Financing Activities
Payments on long-term debt	0.0	(0.1)
Change in commercial paper and short-term debt	1.4	(77.3)
Dividends paid	(13.6)	(13.5)
Purchases of common stock	(3.7)	(2.3)
Other, net	(0.8)	(0.6)
Net Cash Used for Financing Activities	(16.7)	(93.8)
Effect of Exchange Rate Changes on Cash	4.3	11.3
(Decrease) Increase in Cash and Cash Equivalents	(41.6)	18.6
Cash and Cash Equivalents—January 1,	587.4	350.2
Cash and Cash Equivalents—June 30,	$ 545.8	$ 368.8

Consolidated Condensed Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current Assets
Cash and cash equivalents	$ 545.8	$ 587.4
Trade receivables, net	518.4	433.7
Other receivables, net	50.0	42.2
Inventories	638.3	622.6
Prepaid expenses and other current assets	78.8	57.7
Total current assets	1,831.3	1,743.6
Property, Plant and Equipment—at cost
Machinery and equipment	1,484.9	1,440.0
Buildings and other	701.1	752.4
Land	34.7	36.7
Total property, plant and equipment	2,220.7	2,229.1
Less accumulated depreciation	1,573.8	1,565.1
Net property, plant and equipment	646.9	664.0
Other Assets
Goodwill	745.1	751.4
Other intangibles, net	82.9	91.3
Operating lease right-of-use assets	130.9	137.9
Sundry	165.7	148.2
Total other assets	1,124.6	1,128.8
TOTAL ASSETS	3,602.8	3,536.4
Current Liabilities
Current maturities of long-term debt and short-term debt	1.5	1.5
Current portion of operating lease liabilities	48.5	51.5
Accounts payable	475.5	466.6
Accrued expenses	210.7	227.3
Other current liabilities	43.1	28.1
Total current liabilities	779.3	775.0
Long-term Liabilities
Long-term debt	1,496.8	1,496.2
Operating lease liabilities	100.3	106.7
Other long-term liabilities	88.2	83.0
Deferred income taxes	56.0	52.9
Total long-term liabilities	1,741.3	1,738.8
Commitments and Contingencies
Equity
Common stock	2.0	2.0
Additional contributed capital	530.1	550.3
Retained earnings	2,325.3	2,272.2
Accumulated other comprehensive loss	(17.7)	(9.0)
Treasury stock	(1,758.0)	(1,793.4)
Total Leggett & Platt, Inc. equity	1,081.7	1,022.1
Noncontrolling interest	0.5	0.5
Total equity	1,082.2	1,022.6
TOTAL LIABILITIES AND EQUITY	$ 3,602.8	$ 3,536.4