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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