Unconsolidated Affiliate Companies

12 Months Ended

Dec. 31, 2019

Equity Method Investments and Joint Ventures [Abstract]

Unconsolidated Affiliate Companies

Unconsolidated Affiliate Companies

The Company has ownership interests in a group of Asia-Pacific joint ventures to develop markets for Sealy® branded products in those regions. The Company’s ownership interest in these joint ventures is 50.0% and is accounted for under the equity method. The Company’s investment of $22.5 million at December 31, 2019 and 2018, is recorded in other non-current assets in the accompanying Consolidated Balance Sheets. The Company’s share of earnings for the years ended December 31, 2019, 2018 and 2017 respectively, are recorded in equity income in earnings of unconsolidated affiliates in the accompanying Consolidated Statements of Income.

The tables below present summarized financial information for joint ventures as of and for the years ended December 31:

(in millions)	2019		2018
Current assets	$	81.0	$	81.8
Non-current assets	15.3		18.6
Total liabilities	55.4		59.0
Equity	40.9		41.4

(in millions)	2019		2018		2017
Net sales	$	212.6	$	220.5	$	195.1
Gross profit	147.2		147.8		129.9
Income from operations	44.6		46.6		43.3
Net income	32.4		33.5		31.7