LEGGETT & PLATT INC

Listed Company

LEGCIK 0000058492NYSELarge AcceleratedHousehold FurnitureMissouriFY ends Dec 31

Period

FY 2025

Revenue

$4.06B

Net Income

$235.40M

Total Assets

$3.54B

Equity

$1.02B

Shares Out

135.88M

Op. Cash Flow

$338.20M

Business

LEGGETT & PLATT INC is an international diversified manufacturer that conceives, designs, and produces engineered components and products used in residential and automotive applications. It offers innersprings, drawn wire and steel rod, specialty foams, adjustable beds, private‑label mattresses and bedding machinery, automotive comfort systems, aerospace tubing and assemblies, hydraulic cylinders, furniture motion hardware, flooring underlayment, fabric converting, and geo components. Its operations are organized into three segments—Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products—comprising multiple business groups. The company sells globally, serving North America, Europe, China, Canada, Mexico and other markets through direct sales, distributors, retailers, and e‑commerce channels.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net trade sales	4,055	4,384	4,725	5,147	5,073
Cost of goods sold	3,311	3,635	3,872	4,170	4,034
Gross profit	744	749	854	977	1,038
Selling and administrative expenses	488	509	465	427	422
Amortization of intangibles	16	22	69	67	68
Goodwill impairment	0	676	0	0	—
Long-lived asset impairment	19	6	444	0	—
Gain on sale of Aerospace Products Group	−91	0	0	—	—
Net gain on disposal of assets and businesses	−64	−36	−20	—	—
Pension settlement	22	700,000	0	—	—
Other (income) expense, net	−2	800,000	−14	200,000	−18
Earnings (loss) before interest and income taxes	356	−430	−90	485	596
Interest expense	73	86	88	86	77
Interest income	7	7	5	4	3
Earnings (loss) before income taxes	290	−509	−173	404	522
Income taxes	54	2	−37	94	120
Net earnings (loss)	235	−511	−137	310	403
Earnings attributable to noncontrolling interest, net of tax	0	−100,000	0	−100,000	−200,000
Net earnings (loss) attributable to Leggett & Platt, Inc. common shareholders	235	−512	−137	310	402
Basic (in dollars per share)	1.7	−3.73	−1	2.28	2.95
Diluted (in dollars per share)	1.69	−3.73	−1	2.27	2.94

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	587	350	366	317	362
Trade receivables, net	434	503	565	609	620
Other receivables, net	42	56	72	66	32
Inventories	623	723	820	908	993
Prepaid expenses and other current assets	58	58	59	59	59
Total current assets	1,744	1,691	1,881	1,958	2,065
Machinery and equipment	1,440	1,466	1,488	1,434	1,435
Buildings and other	752	781	820	791	772
Land	37	39	43	44	44
Total property, plant and equipment	2,229	2,286	2,351	2,269	2,251
Less accumulated depreciation	1,565	1,562	1,570	1,496	1,470
Net property, plant and equipment	664	724	781	772	782
Goodwill	751	794	1,490	1,474	1,450
Other intangibles, net	91	140	168	675	708
Operating lease right-of-use assets	138	176	193	195	193
Other noncurrent assets	148	136	121	111	111
Total other assets	1,129	1,247	1,972	2,456	—
TOTAL ASSETS	3,536	3,662	4,635	5,186	5,307
Current maturities of long-term debt and short-term debt	2	1	308	9	—
Current portion of operating lease liabilities	52	53	57	50	45
Accounts payable	467	498	536	518	614
Accrued expenses	227	242	257	262	285
Other current liabilities	28	52	104	129	92
Total current liabilities	775	846	1,263	968	1,336
Long-term debt	1,496	1,863	1,680	2,074	1,790
Operating lease liabilities	107	131	151	154	153
Other long-term liabilities	83	82	107	126	163
Deferred income taxes	53	49	101	223	217
Total long-term liabilities	1,739	2,125	2,038	2,577	2,323
Commitments and Contingencies	—	—	—	—	—
Common stockauthorized, 600.0 shares of $.01 par value; 198.8 shares issued; Preferred stockauthorized, 100.0 shares; none issued	2	2	2	—	—
Additional contributed capital	550	569	576	569	558
Retained earnings	2,272	2,065	2,661	3,046	2,973
Accumulated other comprehensive loss	−9	−116	−44	−94	−38
Less treasury stockat cost (63.3 and 64.4 shares at December 31, 2025 and 2024, respectively)	−1,793	−1,830	−1,862	−1,882	−1,847
Total Leggett & Platt, Inc. equity	1,022	689	1,333	1,641	1,648
Noncontrolling interest	500,000	800,000	700,000	700,000	600,000
Total equity	1,023	690	1,334	1,641	1,649
TOTAL LIABILITIES AND EQUITY	3,536	3,662	4,635	5,186	5,307

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	105	112	109	110	117
Amortization of intangibles and supply agreements	18	24	71	70	71
Increase (decrease) in provision for losses on accounts receivable	7	6	−7	3	−3
Write-down of inventories	13	36	9	17	14
Deferred income tax benefit	−20	−58	−129	−16	−9
Stock-based compensation	20	27	28	30	34
Pension expense (income), net of contributions	18	1	−2	−2	1
Other, net	−4	−7	16	−3	12
Accounts and other receivables	85	43	49	−27	−75
Inventories	35	45	87	96	−305
Other current assets	−5	4	4	−4	−7
Accounts payable	−28	−28	14	−102	64
Accrued expenses and other current liabilities	−4	−33	−37	−42	−14
Net Cash Provided by Operating Activities	338	306	497	441	271
Additions to property, plant and equipment	−57	−82	−114	−100	−107
Proceeds from disposal of Aerospace Products Group	276	0	0	—	—
Proceeds from disposals of assets and businesses	74	47	23	—	—
Other, net	0	−2	−900,000	−2	−6
Net Cash Provided by (Used for) Investing Activities	293	−37	−91	−181	−226
Additions to long-term debt	0	0	700,000	5	493
Payments on long-term debt	−100,000	−300	−2	−302	−307
Change in commercial paper and short-term debt	—	174	—	302	—
Change in commercial paper and short-term debt	−376	—	−106	—	−1
Dividends paid	−27	−136	−239	−229	−218
Purchases of common stock	−2	−5	−6	−60	−10
Other, net	−8	−3	−6	−2	−3
Net Cash Used for Financing Activities	−413	−270	−359	−286	−33
Effect of Exchange Rate Changes on Cash	19	−14	2	−19	500,000
Increase (Decrease) in Cash and Cash Equivalents	237	−15	49	−45	13
Interest paid (net of amounts capitalized)	70	85	86	84	67
Property, plant and equipment acquired through finance leases	2	1	1	1	2
Capital expenditures in accounts payable	4	5	3	4	4

Filings

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