Financial Analysis

Contingencies We are a party to various proceedings and matters involving employment, intellectual property, environmental, taxation, vehicle-related personal injury, and other laws. When it is probable, in management's judgment, that we may incur monetary damages or other costs resulting from these proceedings or other claims, and we can reasonably estimate the amounts, we record appropriate accruals in the financial statements and make charges against earnings. For all periods presented, we have recorded no material charges against earnings. Also, when it is reasonably possible that we may incur additional loss in excess of recorded accruals, and we can reasonably estimate the additional losses or range of losses, we disclose such additional reasonably possible losses in these notes. Accruals and Reasonably Possible Losses in Excess of Accruals Accruals for Probable Losses Although we deny liability in all currently threatened or pending legal proceedings, we have recorded a contingency accrual for our reasonable estimate of probable loss, in the aggregate, of $1.8, $1.4, and $1.4 at December 31, 2025, 2024, and 2023, respectively. There were no material adjustments to the accrual, including cash payments and expense, for each of the years ended December 31, 2025, 2024, and 2023, respectively. The accruals do not include accrued expenses related to workers' compensation, vehicle-related personal injury, product and general liability claims, taxation issues, and environmenta …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

"Stock-Based Compensation We use various forms of share-based compensation, which are summarized below. One stock unit is equivalent to one common share for accounting and earnings-per-share purposes. Shares are issued from treasury for the majority of our stock plans activity. All share information is presented in millions. Stock options and stock units are available for grant pursuant to our Flexible Stock Plan (the ""Plan""). On May 8, 2024, the Flexible Stock Plan changed the way awards granted under the plan are charged against the number of available shares. Under the 2024 Plan modification, shares issued pursuant to an award will count as one share against the shares available under the Plan. At December 31, 2025, the following common shares were authorized for issuance under the Plan: Common Shares Unexercised options .4 Outstanding stock unitsvested 4.5 Outstanding stock unitsunvested 2.5 Available for grant 6.3 Authorized for issuance at December 31, 2025 13.7 The following table recaps the impact of stock-based compensation on the results of operations for each of the periods presented: Year Ended December 31, 2025 2024 2023 To Be Settled With Stock To Be Settled In Cash To Be Settled With Stock To Be Settled In Cash To Be Settled With Stock To Be Settled In Cash Executive Stock Unit (ESU) program matching contributions 1 $ 2.7 $ .7 $ 3.7 $ .7 $ 3.0 $ .7 Discounts on various stock awards: Deferred Stock Compensation Program 2 .6 1.2 1.5 ESU program 1 .5 1.0 1.2 Dis …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Fair Value The areas in which we utilize fair value measures of financial assets and liabilities are presented in the table below: As of December 31, 2025 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Bank time deposits with original maturities of three months or less $ $ 217.0 $ $ 217.0 Derivative assets (see Note R ) 4.5 4.5 Diversified investments associated with the ESU program (see Note L ) 60.2 60.2 Total assets $ 60.2 $ 221.5 $ $ 281.7 Liabilities: Derivative liabilities (see Note R ) $ $ 1.2 $ $ 1.2 Liabilities associated with the ESU program (see Note L ) 62.4 62.4 Total liabilities $ 62.4 $ 1.2 $ $ 63.6 As of December 31, 2024 Level 1 Level 2 Level 3 Total Assets: Cash equivalents: Bank time deposits with original maturities of three months or less $ $ 156.0 $ $ 156.0 Derivative assets (see Note R ) 5.1 5.1 Diversified investments associated with the ESU program (see Note L ) 55.1 55.1 Total assets $ 55.1 $ 161.1 $ $ 216.2 Liabilities: Derivative liabilities (see Note R ) $ $ 7.0 $ $ 7.0 Liabilities associated with the ESU program (see Note L ) 53.9 53.9 Total liabilities $ 53.9 $ 7.0 $ $ 60.9 There were no transfers between Level 1 and Level 2 for any of the periods presented. The fair value for fixed rate debt (Level 1) was approximately $175.0 less than carrying value of $1,490.0 at December 31, 2025 and was approximately $245.0 less than carrying value of $1,488.3 at December 31, 2024. …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

"Goodwill and Other Intangible Assets The changes in the carrying amounts of goodwill are as follows: Bedding Products Specialized Products Furniture, Flooring & Textile Products Total Net goodwill as of January 1, 2024 $ 906.5 $ 233.7 $ 349.6 $ 1,489.8 Impairment charges (587.9) (43.6) (44.5) (676.0) Foreign currency translation adjustment (8.6) (7.2) (3.6) (19.4) Net goodwill as of December 31, 2024 310.0 182.9 301.5 794.4 Allocations to divested businesses (see Note S ) (67.8) (1.1) (68.9) Foreign currency translation adjustment 13.7 7.5 4.7 25.9 Net goodwill as of December 31, 2025 1 $ 323.7 $ 122.6 $ 305.1 $ 751.4 1 Net goodwill as of December 31, 2025 is comprised of: Gross goodwill $ 917.0 $ 258.3 $ 600.2 $ 1,775.5 Accumulated impairment charges (593.3) (135.7) (295.1) (1,024.1) Net goodwill as of December 31, 2025 $ 323.7 $ 122.6 $ 305.1 $ 751.4 The gross carrying amount and accumulated amortization by intangible asset class, included in ""Other intangibles, net"" on the Consolidated Balance Sheets, are as follows. No material intangible assets were acquired during the periods presented. December 31, 2025 Gross Carrying Amount Accumulated Amortization Net Intangibles Customer-related intangibles $ 108.7 $ 72.3 $ 36.4 Technology 80.5 64.5 16.0 Patents and trademarks 1 68.4 36.6 31.8 Non-compete agreements, supply agreements and other 26.7 19.6 7.1 Total $ 284.3 $ 193.0 $ 91.3 December 31, 2024 Customer-related intangibles $ 193.0 $ 120.5 $ 72.5 Technology 85.8 63.8 …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

"Income Taxes The components of "" Earnings (loss) before income taxes "" shown in the Consolidated Statements of Operations are as follows: Year Ended December 31, 2025 2024 2023 Domestic $ (14.0) $ (586.2) $ (388.6) Foreign 303.7 77.0 215.2 Earnings (loss) before income taxes $ 289.7 $ (509.2) $ (173.4) "" Income taxes "" shown in the Consolidated Statements of Operations is comprised of the following components: Year Ended December 31, 2025 2024 2023 Current Federal $ 20.8 $ 7.2 $ 24.4 State and local 4.7 1.4 3.7 Foreign 49.0 51.6 64.5 Total current 74.5 60.2 92.6 Deferred Federal (21.5) (48.6) (100.6) State and local (3.3) (7.2) (19.9) Foreign 4.6 (2.2) (8.7) Total deferred (20.2) (58.0) (129.2) Total income taxes $ 54.3 $ 2.2 $ (36.6) A reconciliation of the provision for ""Income taxes"" in amounts and as percentages of ""Earnings (loss) before income taxes"" differs from the statutory federal income tax rate after the adoption of ASU 2023-09 as follows: Year Ended December 31, 2025 Amount Percent U.S. statutory federal income tax rate $ 60.8 21.0 % State and local income taxes, net of federal income tax effect 1 2.3 .8 Foreign tax effects Canada Withholding taxes 12.7 4.4 Local income taxes 3.3 1.1 Other (2.3) (.8) China Statutory tax rate difference between China and United States (3.3) (1.1) Withholding taxes 6.0 2.1 Nontaxable or nondeductible items (3.1) (1.1) Other .9 .3 Cyprus (3.5) (1.2) France Nontaxable gain related to divestiture of Aerospace Products Group ( …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Lease Obligations Substantially all of our operating lease right-of-use assets and operating lease liabilities represent leases for certain operating facilities, warehouses, office space, trucking equipment, and various other assets. Finance lease balances consist of vehicle and certain equipment leases. Our leases have terms that expire at various dates through 2039, some of which include options to extend or terminate the leases at our discretion. Supplemental balance sheet information related to leases was as follows: December 31, 2025 2024 Operating leases: Operating lease right-of-use assets $ 137.9 $ 175.7 Current portion of operating lease liabilities $ 51.5 $ 53.4 Operating lease liabilities 106.7 131.1 Total operating lease liabilities $ 158.2 $ 184.5 Finance leases: Other noncurrent assets $ 3.9 $ 3.6 Current maturities of long-term debt $ 1.5 $ 1.3 Long-term debt 2.4 2.4 Total finance lease liabilities $ 3.9 $ 3.7 The components of lease expense were as follows: Year Ended December 31, 2025 2024 2023 Operating lease costs: Lease costs $ 61.8 $ 65.6 $ 65.4 Variable lease costs 17.4 15.0 18.6 Total operating lease costs $ 79.2 $ 80.6 $ 84.0 Short-term lease costs $ 6.3 $ 6.6 $ 6.6 Finance lease costs: Amortization of right-of-use assets $ 1.4 $ 1.5 $ 1.8 Interest on lease liabilities .1 .1 .1 Total finance lease costs $ 1.5 $ 1.6 $ 1.9 Total lease costs $ 87.0 $ 88.8 $ 92.5 Variable lease costs consist primarily of taxes, insurance, and common-area or other maintenan …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

"Long-Term Debt Our multi-currency credit facility was amended in July 2025 and matures on July 24, 2030. It provides us the ability, from time to time, subject to certain restrictive covenants and customary conditions, to borrow, repay, and re-borrow up to $1,000.0 (previous to the amendment was $1,200.0). At December 31, 2025, we were in compliance with all of our debt covenants. Capitalized terms used in this section but not defined herein have the meanings set forth in the Credit Agreement. Our credit facility contains restrictive covenants, which include: (a) a Leverage Ratio requiring us to maintain, as of the last day of each fiscal quarter, (i) Consolidated Funded Indebtedness minus the lesser of: (A) Unrestricted Cash, or (B) $750.0 to (ii) Consolidated EBITDA for the four consecutive trailing quarters most recently ended on or prior to such date, such ratio not being greater than 3.50 to 1.00; provided however, subject to certain limitations, if we make a Material Acquisition, at our election, the maximum Leverage Ratio shall be 4.00 to 1.00 for the fiscal quarter during which such Material Acquisition is consummated and the next three consecutive fiscal quarters; (b) a limitation of the amount of total secured obligations to 15% of our total consolidated assets; and (c) a limitation on our ability to sell, lease, transfer, or dispose of all or substantially all of our assets and the assets of our subsidiaries, taken as a whole (other than accounts receivable sold i …

LongTermDebtTextBlock · excerpt; the full note is in the filing

"NEW ACCOUNTING GUIDANCE: The Financial Accounting Standards Board (FASB) regularly issues updates to the FASB Accounting Standards Codification that are communicated through issuance of an Accounting Standards Update (ASU). Below is a summary of the ASUs that are most relevant to our financial statements: Adopted in the current year ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures: This ASU requires disclosure of specific categories within the rate reconciliation, as well as the disaggregation of income taxes paid, net of refunds received, by jurisdiction. We adopted the new standard effective for the year ended December 31, 2025, and have applied the new disclosure requirements on a prospective basis to the current reporting period only. As a result, we have enhanced our income tax disclosures presented in Note O . The adoption of this ASU affects disclosures only and has no effect on our financial condition and results of operations. To be adopted in future years ASU 2024-03 ""Income Statement (Subtopic 220-40)Reporting Comprehensive IncomeExpense Disaggregation Disclosures"": This ASU requires disaggregated disclosures for specific categories such as inventory purchases, employee compensation, depreciation, and amortization, as well as other qualitative descriptions. This guidance will be effective for our annual periods beginning January 1, 2027, and interim periods beginning January 1, 2028. Early adoption is permitted and may be applied pros …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

"Employee Benefit Plans Termination and Liquidation of the Frozen Plan Our Frozen Plan (consisting of two domestic defined benefit plans that were merged and terminated effective December 31, 2024) was liquidated in November 2025 through the distribution of plan assets and transfer of benefit obligations to an unrelated third-party insurance company. In connection, non-cash settlement charges of $22.0 and $.7 were recorded for the years ended December 31, 2025 and 2024, respectively, and an employer contribution of $6.0 was made in the fourth quarter of 2025. At December 31, 2025, the remaining net liability for the Frozen Plan was $.7 and is expected to be fully settled by mid-2026. The Frozen Plan's net liability was $4.2 at December 31, 2024. Remaining Defined Benefit Pension Plan Activity Our remaining domestic plan represents approximately 59% of our pension benefit obligation at December 31, 2025. At December 31, 2024 and 2023, our domestic plans consisted of two and three significant plans, respectively, and represented approximately 85% of our pension benefit obligation for both years. A summary of our pension obligations and funded status as of December 31 is as follows: 2025 2024 2023 Change in benefit obligation Benefit obligation, beginning of period $ 178.5 $ 194.6 $ 191.2 Service cost 2.7 2.8 3.4 Interest cost 8.7 9.1 9.2 Plan participants contributions .5 .4 .4 Actuarial loss (gain) 1 .9 (10.3) 4.8 Benefits paid (13.6) (16.0) (15.8) Plan amendments .1 Curtailme …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Restructuring and Related Activities Restructuring and restructuring-related activity for 2023 was $2.9 and was not associated with any formal plan. In 2024, we committed to a restructuring plan (the 2024 Restructuring Plan or 2024 Plan). The 2024 Plan was primarily associated with our Bedding Products segment and included, to a lesser extent, our Furniture, Flooring & Textile Products segment, our Specialized Products segment, and general and administrative cost structure initiatives. Over the course of the restructuring timeline, 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. All of these activities were substantially complete by 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 Incurred Total Amount Incurred to Date Since January 1, 2024 Total Incurred for the Year Ended December 31, 2025 2024 2024 Restructuring Plan activity: Net cash restructuring and restructuring-related costs $ 40 $ 39.0 $ 8.7 $ 30.3 Net non-cash restructuring and restructuring-related costs 17 15.3 2.0 13.3 Total net restructuring and restructuring-related costs 57 54.3 …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Revenue Revenue by Product Family We disaggregate revenue by customer group, which is the same as our product families for each of our segments, as we believe this best depicts how the nature, amount, timing, and uncertainty of our revenue and cash flows are affected by economic factors. For information regarding our segment structure, see Note C . Year Ended December 31, 2025 2024 2023 Bedding Products Bedding Group $ 1,558.4 $ 1,751.7 $ 1,964.7 1,558.4 1,751.7 1,964.7 Specialized Products Automotive Group 794.3 834.6 878.4 Aerospace Products Group 1 132.2 190.2 154.1 Hydraulic Cylinders Group 195.9 214.3 247.3 1,122.4 1,239.1 1,279.8 Furniture, Flooring & Textile Products Home Furniture Group 250.9 273.8 300.5 Work Furniture Group 276.1 272.3 272.8 Flooring & Textile Products Group 847.3 846.7 907.5 1,374.3 1,392.8 1,480.8 $ 4,055.1 $ 4,383.6 $ 4,725.3 1 In August 2025, we divested our Aerospace Products Group (see Note S ).

RevenueFromContractWithCustomerTextBlock

"Segment Information We have three operating segments that supply a wide range of products: Bedding Products: This segment supplies a variety of components used by bedding manufacturers in the production and assembly of their finished products, as well as produces private label finished mattresses and adjustable bed bases. This segment is also vertically integrated into the production and supply of specialty foam chemicals, steel rod, and drawn steel wire to our own operations and to external customers. We also supply steel rod and wire to trade customers that operate in a broad range of markets. Specialized Products: From this segment, we supply lumbar support systems, seat suspension systems, motors and actuators, and control cables used by automotive manufacturers. We also produce and distribute engineered hydraulic cylinders used in the material-handling and heavy construction industries. On August 29, 2025, we divested our Aerospace Products Group, as discussed in Note S . Furniture, Flooring & Textile Products: Operations in this segment supply a wide range of components for residential and work furniture manufacturers, as well as select lines of private label finished furniture. We also produce or distribute carpet cushion, hard surface flooring underlayment, and textile and geo components. Our reportable segments are the same as our operating segments, which correspond with our management organizational structure. Each of our segments has an executive vice preside …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

"Summary of Significant Accounting Policies PRINCIPLES OF CONSOLIDATION: The consolidated financial statements include the accounts of Leggett & Platt, Incorporated and its subsidiaries (we or our). Management does not expect foreign exchange restrictions to significantly impact the ultimate realization of amounts consolidated in the accompanying financial statements for subsidiaries located outside the United States. All intercompany transactions and accounts have been eliminated in consolidation. ESTIMATES: The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America (GAAP) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, and expenses and the accrual and disclosure of loss contingencies. CASH EQUIVALENTS: Cash equivalents include cash in excess of daily requirements, which is invested in various financial instruments with original maturities of three months or less. Restricted cash was less than $2.0 in the years presented and was primarily related to restricted deposits against a short-term borrowing arrangement of a foreign entity. TRADE AND OTHER RECEIVABLES AND ALLOWANCE FOR DOUBTFUL ACCOUNTS: Trade receivables are recorded at the invoiced amount and generally do not bear interest. Credit is also occasionally extended in the form of a note receivable to facilitate our customers operating cycles. We participate in trade receiv …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

Subsequent Events In December 2025, we announced the Company received an unsolicited proposal from Somnigroup International Inc. (Somnigroup) to acquire the Company in an all-stock transaction. In January 2026, our Board of Directors, in consultation with its financial and legal advisors, announced that it had determined that the Somnigroup offer undervalues the Company and publicly declined the Somnigroup proposal. Our Board also publicly announced that it has entered into a customary non-disclosure agreement and six month standstill with Somnigroup to facilitate customary due diligence and to determine if a transaction can be reached that delivers appropriate value and certainty to the Company and its shareholders. There can be no assurance that the Board's evaluation will result in a transaction and, if there is a transaction, the price, form of consideration, or other terms and conditions of any such transaction. We incurred $3.4 of professional costs associated with this activity through December 31, 2025.

SubsequentEventsTextBlock

Contingencies We are a party to various proceedings and matters involving employment, intellectual property, environmental, taxation, vehicle-related personal injury, and other laws. When it is probable, in management's judgment, that we may incur monetary damages or other costs resulting from these proceedings or other claims, and we can reasonably estimate the amounts, we record appropriate accruals in the financial statements and make charges against earnings. For all periods presented, we have recorded no material charges against earnings. Also, when it is reasonably possible that we may incur additional loss in excess of recorded accruals, and we can reasonably estimate the additional losses or range of losses, we disclose such additional reasonably possible losses in these notes. Accruals and Reasonably Possible Losses in Excess of Accruals Accruals for Probable Losses. Although we deny liability in all currently threatened or pending litigation proceedings, we have recorded a litigation contingency accrual for our reasonable estimate of probable loss, in the aggregate, of $1.4 and $1.4 at September 30, 2025 and December 31, 2024, respectively. There were no material adjustments to the accrual, including cash payments and expense, for the three and nine-month periods ending September 30, 2025 and September 30, 2024. The accruals do not include accrued expenses related to employment, workers' compensation, vehicle-related personal injury, product and general liability cl …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

Credit Facility Amendment In July 2025, we amended our credit facility. The amendment extended the maturity date to July 24, 2030 (previously September 30, 2026) and reduced the lenders' revolving commitments to $1,000.0 (previously $1,200.0).

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We disaggregate revenue by customer group, which is the same as our product families for each of our segments, as we believe this best depicts how the nature, amount, timing, and uncertainty of our revenue and cash flows are affected by economic factors. For information on our segment structure, see Note C . Nine Months Ended September 30, Three Months Ended September 30, 2025 2024 2025 2024 Bedding Products Bedding Group $ 1,184.6 $ 1,331.5 $ 402.5 $ 445.5 Specialized Products Automotive Group 599.4 629.5 199.5 204.6 Aerospace Products Group ( Note O ) 132.2 138.0 28.6 44.9 Hydraulic Cylinders Group 150.1 167.9 49.4 50.4 881.7 935.4 277.5 299.9 Furniture, Flooring & Textile Products Home Furniture Group 189.9 207.5 61.9 65.6 Work Furniture Group 209.9 207.2 68.9 67.9 Flooring & Textile Products Group 650.4 645.6 225.6 222.8 1,050.2 1,060.3 356.4 356.3 $ 3,116.5 $ 3,327.2 $ 1,036.4 $ 1,101.7

DisaggregationOfRevenueTableTextBlock

Stock-Based Compensation The following table recaps the impact of stock-based compensation on the results of operations for each of the periods presented: Nine Months Ended September 30, 2025 Nine Months Ended September 30, 2024 To be settled with stock To be settled in cash To be settled with stock To be settled in cash Restricted Stock Unit awards $ 7.4 $ $ 10.0 $ All other stock plans 5.2 1.9 6.3 Total stock-based compensation expense (income) 12.6 $ 1.9 16.3 $ Employee contributions for above stock plans 3.5 5.9 Total stock-based compensation $ 16.1 $ 22.2 Tax benefits on stock-based compensation expense $ 3.0 $ 4.0 Tax (expense)/benefits on stock-based compensation payments (2.8) (1.1) Total tax benefits associated with stock-based compensation $ .2 $ 2.9 Three Months Ended Three Months Ended September 30, 2025 September 30, 2024 To be settled with stock To be settled in cash To be settled with stock To be settled in cash Restricted Stock Unit awards $ $ $ .8 All other stock plans 2.5 .7 1.6 .4 Total stock-based compensation expense (income) 2.5 $ .7 2.4 $ .4 Employee contributions for above stock plans 1.1 2.0 Total stock-based compensation $ 3.6 $ 4.4 Tax benefits on stock-based compensation expense $ .6 $ .6 Tax (expense)/benefits on stock-based compensation payments (.1) .1 Total tax benefits associated with stock-based compensation $ .5 $ .7 …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Fair Value We utilize fair value measures for both financial and non-financial assets and liabilities. Items measured at fair value on a recurring basis Fair value measurements are established using a three-level valuation hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into the following categories: Level 1: Quoted prices for identical assets or liabilities in active markets. Level 2: Inputs, other than quoted prices included in Level 1, that are observable for the asset or liability either directly or indirectly. Short-term investments in this category are valued using discounted cash flow techniques with all significant inputs derived from or supported by observable market data. Derivative assets and liabilities in this category are valued using models that consider various assumptions and information from market-corroborated sources. The models used are primarily industry-standard models that consider items such as quoted prices, market interest rate curves applicable to the instruments being valued as of the end of each period, discounted cash flows, volatility factors, current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace, can be derived from observable data, or are supported by observable levels at which transactions are executed in the marketplace. Level 3: Unobservable inputs that are not corrob …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

"New Accounting Guidance The Financial Accounting Standards Board (FASB) regularly issues updates to the FASB Accounting Standards Codification that are communicated through issuance of an Accounting Standards Update (ASU). Below is a summary of the ASUs effective for future periods that are most relevant to our financial statements: ASU 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures: This ASU requires disclosure of specific categories in the rate reconciliation and income taxes paid disaggregated by jurisdiction. This guidance is effective for our annual periods beginning January 1, 2025. We expect the adoption to result in disclosure changes only. ASU 2024-03 ""Income Statement (Subtopic 220-40)Reporting Comprehensive IncomeExpense Disaggregation Disclosures"": This ASU requires disaggregated disclosures for specific categories such as inventory purchases, employee compensation, depreciation, and amortization, as well as other qualitative descriptions. This guidance will be effective for our annual periods beginning January 1, 2027, and interim periods beginning January 1, 2028. We are currently evaluating the impact of adopting this guidance. ASU 2025-06 ""IntangiblesGoodwill and OtherInternal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software"": This ASU removes the prescriptive and sequential software development stages (referred to as ""project stages"") and requires capitalization to begin when ma …

NewAccountingPronouncementsPolicyPolicyTextBlock · excerpt; the full note is in the filing

Restructuring and Related Activities In 2024, we committed to a restructuring plan (the 2024 Restructuring Plan or 2024 Plan). The 2024 Plan is primarily associated with our Bedding Products segment and includes, to a lesser extent, our Furniture, Flooring & Textile Products segment, an opportunity within the Specialized Products segment, and general and administrative cost structure initiatives. Over the course of the restructuring timeline, we plan to consolidate between 15 and 20 production and distribution facilities in the Bedding Products segment and a small number of production facilities in the Furniture, Flooring & Textile Products segment. Our total restructuring, restructuring-related, and impairment costs for the 2024 Plan are expected to be approximately $75.0, of which $47.8 was incurred in 2024, with the remainder expected to be substantially complete in 2025. As of September 30, 2025, we have incurred life-to-date 2024 Plan costs of $58.4. The following table presents all 2024 Plan restructuring and restructuring-related activity, including impairments, for the periods presented: Total Approximate Amount Expected to be Incurred Total Amount Incurred to Date Since January 1, 2024 Nine Months Ended September 30, 2025 Total Amount Incurred in 2024 2024 Restructuring Plan activity: Net cash restructuring and restructuring-related $ 40.0 $ 38.1 $ 7.8 $ 30.3 Net non-cash restructuring and restructuring-related 25.0 14.1 .8 13.3 Total net restructuring and re …

RestructuringAndRelatedActivitiesDisclosureTextBlock · excerpt; the full note is in the filing

Revenue Revenue by Product Family We disaggregate revenue by customer group, which is the same as our product families for each of our segments, as we believe this best depicts how the nature, amount, timing, and uncertainty of our revenue and cash flows are affected by economic factors. For information on our segment structure, see Note C . Nine Months Ended September 30, Three Months Ended September 30, 2025 2024 2025 2024 Bedding Products Bedding Group $ 1,184.6 $ 1,331.5 $ 402.5 $ 445.5 Specialized Products Automotive Group 599.4 629.5 199.5 204.6 Aerospace Products Group ( Note O ) 132.2 138.0 28.6 44.9 Hydraulic Cylinders Group 150.1 167.9 49.4 50.4 881.7 935.4 277.5 299.9 Furniture, Flooring & Textile Products Home Furniture Group 189.9 207.5 61.9 65.6 Work Furniture Group 209.9 207.2 68.9 67.9 Flooring & Textile Products Group 650.4 645.6 225.6 222.8 1,050.2 1,060.3 356.4 356.3 $ 3,116.5 $ 3,327.2 $ 1,036.4 $ 1,101.7

RevenueFromContractWithCustomerTextBlock

Segment Information We have three operating segments that supply a wide range of products: Bedding Products: This segment supplies a variety of components used by bedding manufacturers in the production and assembly of their finished products, as well as produces private label finished mattresses and adjustable bed bases. This segment is also vertically integrated in the production and supply of specialty foam chemicals, steel rod, and drawn steel wire to our own operations and to external customers. We also supply steel rod and wire to trade customers that operate in a broad range of markets. Specialized Products: From this segment, we supply lumbar support systems, seat suspension systems, motors and actuators, and control cables used by automotive manufacturers. We also produce and distribute engineered hydraulic cylinders used in the material-handling and heavy-construction industries. On August 29, 2025, we divested our Aerospace Products Group, as discussed in Note O to the Consolidated Condensed Financial Statements on page 24. Furniture, Flooring & Textile Products: Operations in this segment supply a wide range of components for residential and work furniture manufacturers, as well as select lines of private label finished furniture. We also produce or distribute carpet cushion, hard surface flooring underlayment, and textile and geo components. Our reportable segments are the same as our operating segments, which correspond with our management organizational str …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing