v3.26.1
Restructuring and Related Activities
6 Months Ended
Jun. 30, 2026
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities Restructuring and Related Activities    
In 2024, we committed to a restructuring plan (the 2024 Restructuring Plan or 2024 Plan), which was primarily associated with our Bedding Products segment.
We consolidated 17 production and distribution facilities in the Bedding Products segment and four production facilities in the Furniture, Flooring & Textile Products segment. We optimized manufacturing and operating efficiencies in the Hydraulic Cylinders Group, and reduced our corporate general and administrative expenses. The 2024 Plan costs were substantially complete at the end of 2025.
The following table presents all 2024 Plan restructuring and restructuring-related activity, including impairments, for the periods presented:
Total Approximate Amount Expected to be IncurredTotal Amount Incurred to Date Since January 1, 2024Six Months Ended 
 June 30, 2026
Total Amount Incurred in 2025Total Amount Incurred in 2024
2024 Restructuring Plan activity:
Net cash restructuring and restructuring-related$40.0 $39.3 $.3 $8.7 $30.3 
Net non-cash restructuring and restructuring-related17.0 15.8 .5 2.0 13.3 
Total net restructuring and restructuring-related costs57.0 55.1 .8 10.7 43.6 
Long-lived asset and goodwill impairment costs23.0 26.0 2.8 19.0 4.2 
Total 2024 Restructuring Plan activity$80.0 $81.1 $3.6 $29.7 $47.8 
In February 2026, we committed to a smaller restructuring plan to consolidate two manufacturing facilities in our Specialty Foam business unit in our Bedding Products segment and one manufacturing facility within our Furniture, Flooring & Textile Products segment into other existing facilities (the 2026 Restructuring Plan or 2026 Plan). During the second quarter of 2026, we expanded the 2026 Plan to include the consolidation of one additional manufacturing facility within our Furniture, Flooring & Textile Products segment and cost improvement opportunities identified in each of our three segments. These actions are expected to improve manufacturing efficiencies and enhance profitability and are anticipated to be substantially complete by the end of 2026. We expect to incur restructuring and restructuring-related pretax costs of approximately $25.0 for the 2026 Restructuring Plan, including approximately $15.0 of cash charges.
Total Approximate Amount Expected to be IncurredSix Months Ended 
 June 30, 2026
Three Months Ended 
 June 30,2026
2026 Restructuring Plan activity:
Net cash restructuring and restructuring-related$15.0 $7.3 $6.5 
Net non-cash restructuring and restructuring-related10.0 4.1 3.0 
Total 2026 Restructuring Plan activity$25.0 $11.4 $9.5 
The table below presents the restructuring and restructuring-related activity for the periods presented:
Consolidated Condensed Statements of Operations PresentationSix Months Ended June 30,Three Months Ended June 30,
2026202520262025
2024 Plan restructuring costs:
Termination benefits, relocation, and other restructuring costsOther expense (income), net$.3 $4.4 $.1 $2.1 
2024 Plan restructuring-related costs:
Inventory obsolescence and other Cost of goods sold.5 .5 .5 — 
Professional services and otherSelling and administrative expenses 1.1  .1 
Net loss on disposal of assets and businessesNet gain on disposal of assets and businesses 1.6  .2 
Total 2024 Plan restructuring-related costs.5 3.2 .5 .3 
Total 2024 Plan net restructuring and restructuring-related costs$.8 $7.6 $.6 $2.4 
2026 Plan restructuring costs:
Termination benefits, relocation, and other restructuring costsOther expense (income), net$7.2 $— $6.5 $— 
2026 Plan restructuring-related costs:
Inventory obsolescence and otherCost of goods sold4.1 — 2.9 — 
Professional services and otherSelling and administrative expenses.1 — .1 — 
Total 2026 Plan restructuring-related costs4.2 — 3.0 — 
Total 2026 Plan net restructuring and restructuring-related costs$11.4 $— $9.5 $— 
Other restructuring costs:
Termination benefits, relocation, and other restructuring costsOther expense (income), net$ $1.5 $ $.7 
Other restructuring-related costs:
Professional services and otherSelling and administrative expenses .6  — 
Net (gain) loss on disposal of assets and businessesNet gain on disposal of assets and businesses (.9) (.9)
Total other restructuring-related costs (gains) (.3) (.9)
Total other net restructuring and restructuring-related costs (gains)$ $1.2 $ $(.2)
Total net restructuring and restructuring-related costs$12.2 $8.8 $10.1 $2.2 
Net restructuring and restructuring-related 2024 Plan and 2026 Plan costs by segment were as follows:
Six Months Ended 
 June 30, 2026
Six Months Ended 
 June 30, 2025
Three Months Ended 
 June 30, 2026
Three Months Ended 
 June 30, 2025
2024 Plan
Bedding Products$.3 $4.3 $.1 $1.2 
Specialized Products.5 2.3 .5 .3 
Furniture, Flooring & Textile Products 1.0  .9 
Total net restructuring and restructuring-related costs$.8 $7.6 $.6 $2.4 
2026 Plan
Bedding Products$7.5 $— $5.8 $— 
Specialized Products2.7 — 2.7 — 
Furniture, Flooring & Textile Products1.2 — 1.0 — 
Total net restructuring and restructuring-related costs$11.4 $— $9.5 $— 
We recognized gains from the sale of real estate associated with the 2024 Plan of $21.0 and $16.7 in the first six months of 2026 and 2025, respectively. There were no real estate gains associated with the 2026 Plan in the first six months of 2026. Real estate gains are not reflected in the tables above.
The accrued liabilities associated with our total restructuring initiatives were $5.8 and $1.7 at June 30, 2026 and December 31, 2025, respectively.