$SGI

TEMPUR SEALY INTERNATIONAL, INC.

CIK:0001206264|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - 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 sales	$ 1,823.5	$ 1,880.8	$ 3,625.0	$ 3,485.5
Cost of sales	1,006.3	1,053.6	2,030.9	2,077.8
Gross profit	817.2	827.2	1,594.1	1,407.7
Selling and marketing expenses	453.5	460.5	882.0	823.1
General, administrative and other expenses	165.1	175.9	332.0	385.4
Equity income in earnings of unconsolidated affiliates	(3.1)	(3.0)	(8.7)	(7.8)
Operating income	201.7	179.9	388.8	193.1
Other expense, net:
Interest expense, net	59.0	72.5	119.0	133.8
Other (income) expense, net	(5.1)	4.7	(15.3)	5.9
Total other expense, net	53.9	77.2	103.7	139.7
Income before income taxes	147.8	102.7	285.1	53.4
Income tax provision (benefit)	(37.2)	(3.2)	(70.6)	13.3
Net income before non-controlling interest	110.6	99.5	214.5	66.7
Less: Net (loss) income attributable to non-controlling interest	(0.3)	0.5	(0.6)	0.8
Net income attributable to Somnigroup International Inc.	$ 110.9	$ 99.0	$ 215.1	$ 65.9
Earnings per common share:
Basic (in dollars per share)	$ 0.53	$ 0.47	$ 1.02	$ 0.33
Diluted (in dollars per share)	$ 0.52	$ 0.47	$ 1.01	$ 0.32
Weighted average common shares outstanding:
Basic (in shares)	210.4	209.2	210.4	202.1
Diluted (in shares)	212.5	212.4	212.6	205.7
Loss on disposal of business	$ 0.0	$ 13.9	$ 0.0	$ 13.9

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income before non-controlling interest	$ 214.5	$ 66.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	123.3	116.2
Amortization of stock-based compensation	22.6	18.5
Amortization of deferred financing costs	3.3	3.4
Bad debt expense	1.3	4.3
Deferred income taxes	(0.6)	1.1
Dividends received from unconsolidated affiliates	6.6	6.7
Equity income in earnings of unconsolidated affiliates	(8.7)	(7.8)
Loss on disposal of business	0.0	13.9
Foreign currency adjustments and other	3.8	4.4
Changes in operating assets and liabilities, net of effect of business acquisitions	116.7	65.1
Net cash provided by operating activities	482.8	292.5
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(115.2)	(60.7)
Acquisitions, net of cash acquired	0.0	(2,824.5)
Purchases of investments	(0.3)	0.0
Other	0.4	7.1
Net cash used in investing activities	(115.1)	(2,878.1)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings under long-term debt obligations	1,779.7	2,677.1
Repayments of borrowings under long-term debt obligations	(2,051.8)	(1,578.6)
Proceeds from exercise of stock options	0.0	49.1
Treasury stock repurchased	(26.2)	(132.4)
Dividends paid	(72.5)	(64.4)
Repayments of finance lease obligations and other	(13.2)	(10.6)
Net cash (used in) provided by financing activities	(384.0)	940.2
NET EFFECT OF EXCHANGE RATE CHANGES ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH	(6.6)	33.8
Decrease in cash, cash equivalents and restricted cash	(22.9)	(1,611.6)
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, beginning of period	134.9	1,709.7
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, end of period	112.0	98.1
Supplemental cash flow information:
Cash paid for interest	121.7	142.3
Income taxes, net of refunds	33.2	1.1
Non-cash investing activities:
Treasury stock issued in connection with Mattress Firm Acquisition	$ 0.0	$ 2,245.1

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 112.0	$ 134.9
Accounts receivable, net	361.4	358.5
Inventories	649.8	630.0
Prepaid expenses and other current assets	165.8	170.7
Total Current Assets	1,289.0	1,294.1
Property, plant and equipment, net	1,009.7	1,019.2
Goodwill	4,584.5	4,595.9
Trade name and other intangible assets, net	2,580.1	2,587.1
Operating lease right-of-use assets	1,893.5	1,878.8
Deferred income taxes	21.6	18.5
Other non-current assets	232.6	207.1
Total Assets	11,611.0	11,600.7
Current Liabilities:
Accounts payable	522.2	401.6
Accrued expenses and other current liabilities	646.3	636.5
Short-term operating lease obligations	405.2	399.6
Current portion of long-term debt	115.7	112.4
Income taxes payable	33.6	15.1
Total Current Liabilities	1,723.0	1,565.2
Long-term debt, net	4,292.8	4,573.3
Long-term operating lease obligations	1,598.4	1,589.8
Deferred income taxes	626.5	624.9
Other non-current liabilities	133.3	130.6
Total Liabilities	8,374.0	8,483.8
Redeemable non-controlling interest	7.6	8.9
Total Stockholders' Equity	3,229.4	3,108.0
Total Liabilities, Redeemable Non-Controlling Interest and Stockholders' Equity	$ 11,611.0	$ 11,600.7