LEGGETT & PLATT INCLEG
LEGGETT & PLATT INC Segments Disclosure
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 president who has accountability to, and maintains regular contact with, our CEO, who is the chief operating decision maker (CODM).
The accounting policies used in the preparation of the segment information are the same as those used for the consolidated financial statements. Earnings Before Interest and Taxes (EBIT) is used by the CODM to evaluate segment performance, allocate overall resources, and determine management incentive compensation. Intersegment sales are made primarily at prices that approximate market-based selling prices.
Centrally incurred costs are allocated to the segments based on estimates of services used by the segment. Certain of our general and administrative costs and miscellaneous corporate income and expenses are allocated to the segments based on sales or other appropriate metrics. These allocated corporate costs include depreciation and other costs and income related to assets that are not allocated or otherwise included in the segment assets.
A summary of segment results for the periods presented is as follows:
Year Ended December 31, 2025 | Bedding Products | Specialized Products | Furniture, Flooring & Textile Products | Total | ||||||||||||||||||||||
Trade sales 1 | $ | 1,558.4 | $ | 1,122.4 | $ | 1,374.3 | $ | 4,055.1 | ||||||||||||||||||
| Inter-segment sales | 21.0 | 1.6 | 7.5 | 30.1 | ||||||||||||||||||||||
| Total segment sales | 1,579.4 | 1,124.0 | 1,381.8 | 4,085.2 | ||||||||||||||||||||||
| Less: | ||||||||||||||||||||||||||
| Depreciation and amortization | 55.1 | 34.7 | 18.3 | 108.1 | ||||||||||||||||||||||
Nonoperating assets depreciation and amortization 2 | 5.5 | 3.9 | 4.9 | 14.3 | ||||||||||||||||||||||
| Total depreciation and amortization | 60.6 | 38.6 | 23.2 | 122.4 | ||||||||||||||||||||||
| — | (90.9) | — | (90.9) | |||||||||||||||||||||||
| 26.0 | 7.5 | 2.7 | 36.2 | |||||||||||||||||||||||
| Gain on sale of real estate | (21.7) | (1.7) | (5.7) | (29.1) | ||||||||||||||||||||||
| Net gain from insurance proceeds | (34.7) | — | — | (34.7) | ||||||||||||||||||||||
Other segment items 3 | 1,450.5 | 966.2 | 1,283.0 | 3,699.7 | ||||||||||||||||||||||
| Segment EBIT | $ | 98.7 | $ | 204.3 | $ | 78.6 | 381.6 | |||||||||||||||||||
Intersegment eliminations and other 4 | (25.6) | |||||||||||||||||||||||||
| Interest expense net of interest income | (66.3) | |||||||||||||||||||||||||
| Earnings (loss) before income taxes | $ | 289.7 | ||||||||||||||||||||||||
Year Ended December 31, 2024 | Bedding Products | Specialized Products | Furniture, Flooring & Textile Products | Total | ||||||||||||||||||||||
Trade sales 1 | $ | 1,751.7 | $ | 1,239.1 | $ | 1,392.8 | $ | 4,383.6 | ||||||||||||||||||
| Inter-segment sales | 25.0 | 3.3 | 9.8 | 38.1 | ||||||||||||||||||||||
| Total segment sales | 1,776.7 | 1,242.4 | 1,402.6 | 4,421.7 | ||||||||||||||||||||||
| Less: | ||||||||||||||||||||||||||
| Depreciation and amortization | 59.0 | 43.0 | 21.7 | 123.7 | ||||||||||||||||||||||
Nonoperating assets depreciation and amortization 2 | 5.0 | 3.4 | 3.9 | 12.3 | ||||||||||||||||||||||
| Total depreciation and amortization | 64.0 | 46.4 | 25.6 | 136.0 | ||||||||||||||||||||||
| 587.9 | 43.6 | 44.5 | 676.0 | |||||||||||||||||||||||
| 37.4 | 10.1 | 2.3 | 49.8 | |||||||||||||||||||||||
| Gain on sale of real estate | (30.9) | — | — | (30.9) | ||||||||||||||||||||||
| Net gain from insurance proceeds | — | — | (2.2) | (2.2) | ||||||||||||||||||||||
Other segment items 3 | 1,667.3 | 1,077.9 | 1,274.2 | 4,019.4 | ||||||||||||||||||||||
| Segment EBIT | $ | (549.0) | $ | 64.4 | $ | 58.2 | (426.4) | |||||||||||||||||||
Intersegment eliminations and other 4 | (3.5) | |||||||||||||||||||||||||
| Interest expense net of interest income | (79.3) | |||||||||||||||||||||||||
| Earnings (loss) before income taxes | $ | (509.2) | ||||||||||||||||||||||||
Year Ended December 31, 2023 | Bedding Products | Specialized Products | Furniture, Flooring & Textile Products | Total | ||||||||||||||||||||||
Trade sales 1 | $ | 1,964.7 | $ | 1,279.8 | $ | 1,480.8 | $ | 4,725.3 | ||||||||||||||||||
| Inter-segment sales | 31.9 | 1.5 | 11.7 | 45.1 | ||||||||||||||||||||||
| Total segment sales | 1,996.6 | 1,281.3 | 1,492.5 | 4,770.4 | ||||||||||||||||||||||
| Less: | ||||||||||||||||||||||||||
| Depreciation and amortization | 103.9 | 41.1 | 22.5 | 167.5 | ||||||||||||||||||||||
Nonoperating assets depreciation and amortization 2 | 5.3 | 3.3 | 3.8 | 12.4 | ||||||||||||||||||||||
| Total depreciation and amortization | 109.2 | 44.4 | 26.3 | 179.9 | ||||||||||||||||||||||
| 443.7 | — | — | 443.7 | |||||||||||||||||||||||
| Gain on sale of real estate | (5.4) | — | (5.5) | (10.9) | ||||||||||||||||||||||
| Net gain from insurance proceeds | (1.9) | — | (7.0) | (8.9) | ||||||||||||||||||||||
Other segment items 3 | 1,795.2 | 1,111.9 | 1,350.1 | 4,257.2 | ||||||||||||||||||||||
| Segment EBIT | $ | (344.2) | $ | 125.0 | $ | 128.6 | (90.6) | |||||||||||||||||||
| Intersegment eliminations and other | .2 | |||||||||||||||||||||||||
| Interest expense net of interest income | (83.0) | |||||||||||||||||||||||||
| Earnings (loss) before income taxes | $ | (173.4) | ||||||||||||||||||||||||
2 Nonoperating assets are not allocated to segments for internal reporting presentations. A portion of amortization and depreciation is included with various other costs in an overhead allocation to each segment.
3 Other segment items included in segment EBIT but not regularly provided to the CODM are comprised of "Cost of goods sold", "Selling and administrative expenses", and "" shown in the Consolidated Statements of Operations.
4 Intersegment eliminations and other included $22.0 for a pension settlement (see Note M) and $3.4 for Somnigroup International Inc. unsolicited offer evaluation costs (see Note U) in 2025 and $3.7 in CEO transition compensation costs in 2024.
Average assets for our segments are shown in the table below and reflect the basis for return measures used by management to evaluate segment performance. These segment totals include working capital (current assets and current liabilities utilized in operations) plus net property, plant and equipment. Segment assets for all years are reflected at their estimated average for the year.
| Year Ended December 31, | |||||||||||
| Assets | Additions to Property, Plant and Equipment | ||||||||||
| 2025 | |||||||||||
| Bedding Products | $ | 635.5 | $ | 19.8 | |||||||
| Specialized Products | 363.0 | 26.0 | |||||||||
| Furniture, Flooring & Textile Products | 331.1 | 9.3 | |||||||||
| Average current liabilities included in segment numbers above | 650.0 | — | |||||||||
Unallocated assets and other 1 | 1,807.3 | 2.1 | |||||||||
| Difference between average assets and year-end balance sheet | (250.5) | — | |||||||||
| $ | 3,536.4 | $ | 57.2 | ||||||||
| 2024 | |||||||||||
| Bedding Products | $ | 741.8 | $ | 30.5 | |||||||
| Specialized Products | 398.7 | 35.2 | |||||||||
| Furniture, Flooring & Textile Products | 346.1 | 9.7 | |||||||||
| Average current liabilities included in segment numbers above | 692.7 | — | |||||||||
Unallocated assets and other 1, 2 | 1,634.0 | 6.2 | |||||||||
| Difference between average assets and year-end balance sheet | (151.7) | — | |||||||||
| $ | 3,661.6 | $ | 81.6 | ||||||||
| 2023 | |||||||||||
| Bedding Products | $ | 815.2 | $ | 47.3 | |||||||
| Specialized Products | 398.6 | 42.7 | |||||||||
| Furniture, Flooring & Textile Products | 390.3 | 12.7 | |||||||||
| Average current liabilities included in segment numbers above | 736.1 | — | |||||||||
Unallocated assets and other 1 | 2,403.2 | 11.1 | |||||||||
| Difference between average assets and year-end balance sheet | (108.9) | — | |||||||||
| $ | 4,634.5 | $ | 113.8 | ||||||||
1 Unallocated assets consists primarily of goodwill, other intangibles, cash, and deferred tax assets.
Trade sales and tangible long-lived assets are presented below, based on the geography of manufacture.
| Year Ended December 31, | |||||||||||||||||
| 2025 | 2024 | 2023 | |||||||||||||||
| Trade sales | |||||||||||||||||
| Foreign sales | |||||||||||||||||
| Europe | $ | 616.9 | $ | 660.6 | $ | 715.2 | |||||||||||
| China | 409.5 | 443.5 | 464.7 | ||||||||||||||
| Canada | 289.6 | 289.5 | 296.6 | ||||||||||||||
| Mexico | 187.1 | 214.0 | 232.6 | ||||||||||||||
| Other | 140.4 | 143.4 | 139.2 | ||||||||||||||
| Total foreign sales | 1,643.5 | 1,751.0 | 1,848.3 | ||||||||||||||
| United States | 2,411.6 | 2,632.6 | 2,877.0 | ||||||||||||||
| Total trade sales | $ | 4,055.1 | $ | 4,383.6 | $ | 4,725.3 | |||||||||||
| Tangible long-lived assets | |||||||||||||||||
| Foreign tangible long-lived assets | |||||||||||||||||
| Europe | $ | 140.1 | $ | 144.9 | $ | 149.4 | |||||||||||
| China | 45.1 | 44.3 | 47.1 | ||||||||||||||
| Canada | 21.9 | 23.1 | 25.6 | ||||||||||||||
| Mexico | 12.6 | 11.6 | 14.3 | ||||||||||||||
| Other | 8.9 | 6.8 | 7.3 | ||||||||||||||
| Total foreign tangible long-lived assets | 228.6 | 230.7 | 243.7 | ||||||||||||||
| United States | 435.4 | 493.7 | 537.5 | ||||||||||||||
| Total tangible long-lived assets | $ | 664.0 | $ | 724.4 | $ | 781.2 | |||||||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 26, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Feb 24, 2023 | |
| 2021 | Feb 22, 2022 | |
| 2020 | Feb 24, 2021 | |
| 2019 | Feb 20, 2020 | |
| 2018 | Feb 27, 2019 | |
| 2017 | Feb 22, 2018 | |
| 2016 | Feb 22, 2017 | |
| 2015 | Feb 25, 2016 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.