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Unconsolidated Affiliate Companies

6 Months Ended

May 27, 2012

Note 8: Unconsolidated Affiliate Companies

The Company is involved in a group of joint ventures to develop markets for Sealy branded products in Asia. Our ownership interest in these joint ventures is 50% and they are accounted for under the equity method. The Company's share of earnings is recorded in equity in earnings of unconsolidated affiliates in the Condensed Consolidated Statements of Operations.

Summarized statements of operations for these joint ventures for each of the three and six month periods ended are as follows (in thousands):

	Three months				Six months

	May 27, 2012		May 29, 2011		May 27, 2012		May 29, 2011
Revenues	$	15,981	$	13,103	$	31,880	$	25,421
Gross profit		10,411		7,827		20,431		15,622
Income from operations		3,236		1,708		6,208		3,664
Net income		2,468		1,246		4,817		2,955

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

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