0000058492-22-000024 | 10-Q | XBRL Viewer

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Cover Page - shares	9 Months Ended
Cover Page - shares	Sep. 30, 2022	Oct. 26, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-07845
Entity Registrant Name	LEGGETT & PLATT, INC
Entity Incorporation, State or Country Code	MO
Entity Tax Identification Number	44-0324630
Entity Address, Address Line One	No. 1 Leggett Road
Entity Address, City or Town	Carthage,
Entity Address, State or Province	MO
Entity Address, Postal Zip Code	64836
City Area Code	417
Local Phone Number	358-8131
Title of 12(b) Security	Common Stock, $.01 par value
Ticker Symbol	LEG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Small Business Entity	false
Emerging Growth Entity	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		132,577,397
Entity Central Index Key	0000058492
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and cash equivalents	$ 226.2	$ 361.7
Trade receivables, net	675.8	620.0
Other receivables, net	54.5	31.5
Total receivables, net	730.3	651.5
Inventories	976.0	993.2
Prepaid expenses and other current assets	68.5	58.9
Total current assets	2,001.0	2,065.3
PROPERTY, PLANT AND EQUIPMENT—AT COST
Machinery and equipment	1,397.0	1,435.0
Buildings and other	772.5	772.1
Land	42.5	44.1
Total property, plant and equipment	2,212.0	2,251.2
Less accumulated depreciation	1,470.8	1,469.7
Net property, plant and equipment	741.2	781.5
OTHER ASSETS
Goodwill	1,449.6	1,449.6
Other intangibles, less accumulated amortization of $337.0 and $298.1 as of September 30, 2022 and December 31, 2021, respectively	689.1	707.8
Operating lease right-of-use assets	190.8	192.6
Sundry	103.5	110.5
Total other assets	2,433.0	2,460.5
TOTAL ASSETS	5,175.2	5,307.3
CURRENT LIABILITIES
Current maturities of long-term debt	7.4	300.6
Current portion of operating lease liabilities	44.7	44.5
Accounts payable	512.5	613.8
Accrued expenses	277.6	284.6
Other current liabilities	122.8	92.2
Total current liabilities	965.0	1,335.7
LONG-TERM LIABILITIES
Long-term debt	2,133.6	1,789.7
Operating lease liabilities	151.1	153.0
Other long-term liabilities	147.2	162.9
Deferred income taxes	215.5	217.4
Total long-term liabilities	2,647.4	2,323.0
COMMITMENTS AND CONTINGENCIES
EQUITY
Common stock	2.0	2.0
Additional contributed capital	564.8	557.9
Retained earnings	3,053.0	2,973.0
Accumulated other comprehensive loss	(174.1)	(38.3)
Treasury stock	(1,883.5)	(1,846.6)
Total Leggett & Platt, Inc. equity	1,562.2	1,648.0
Noncontrolling interest	0.6	0.6
Total equity	1,562.8	1,648.6
TOTAL LIABILITIES AND EQUITY	$ 5,175.2	$ 5,307.3

CONSOLIDATED CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accumulated amortization	$ 337.0	$ 298.1

CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Net trade sales	$ 1,294.4	$ 1,319.2	$ 3,950.9	$ 3,739.7
Cost of goods sold	1,063.9	1,063.1	3,184.7	2,966.8
Gross profit	230.5	256.1	766.2	772.9
Selling and administrative expenses	100.4	103.6	317.5	322.5
Amortization of intangibles	16.6	17.8	50.0	51.6
Net gain from sale of assets and businesses	(0.3)	(0.9)	(1.6)	(29.5)
Other expense (income), net	0.6	(8.6)	6.5	(15.5)
Earnings before interest and income taxes	113.2	144.2	393.8	443.8
Interest expense	20.5	19.0	62.3	57.8
Interest income	0.8	0.6	3.1	2.3
Earnings before income taxes	93.5	125.8	334.6	388.3
Income taxes	22.0	28.6	77.5	91.3
Net earnings	71.5	97.2	257.1	297.0
(Earnings) attributable to noncontrolling interest, net of tax	(0.1)	0.0	(0.1)	(0.1)
Net earnings attributable to Leggett & Platt, Inc. common shareholders	$ 71.4	$ 97.2	$ 257.0	$ 296.9
Net earnings per share attributable to Leggett & Platt, Inc. common shareholders
Basic (in usd per share)	$ 0.53	$ 0.71	$ 1.89	$ 2.18
Diluted (in usd per share)	$ 0.52	$ 0.71	$ 1.88	$ 2.17
Weighted average shares outstanding
Basic (in shares)	135.7	136.4	136.2	136.2
Diluted (in shares)	136.1	136.9	136.6	136.7

CONSOLIDATED CONDENSED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 71.5	$ 97.2	$ 257.1	$ 297.0
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(61.7)	(15.7)	(131.5)	(16.5)
Cash flow hedges	(4.2)	8.3	(6.0)	10.5
Defined benefit pension plans	0.9	1.0	1.6	2.7
Other comprehensive income (loss)	(65.0)	(6.4)	(135.9)	(3.3)
Comprehensive income (loss)	6.5	90.8	121.2	293.7
Add: comprehensive loss attributable to noncontrolling interest	0.0	0.0	0.0	(0.1)
Comprehensive income (loss) attributable to Leggett & Platt, Inc.	$ 6.5	$ 90.8	$ 121.2	$ 293.6

CONSOLIDATED CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
OPERATING ACTIVITIES
Net earnings	$ 257.1	$ 297.0
Adjustments to reconcile net earnings to net cash provided by operating activities:
Depreciation	82.9	87.4
Amortization of intangibles and supply agreements	51.4	53.4
Increase (decrease) in provision for losses on accounts and notes receivable	2.1	(2.3)
Writedown of inventories	9.0	10.8
Net gain from sales of assets and businesses	(1.6)	(29.5)
Deferred income tax (benefit) expense	(12.4)	0.8
Stock-based compensation	25.0	28.4
Other, net	(4.3)	2.3
Increases/decreases in, excluding effects from acquisitions and divestitures:
Accounts and other receivables	(108.7)	(124.6)
Inventories	16.4	(278.3)
Other current assets	(3.2)	(10.8)
Accounts payable	(97.8)	55.9
Accrued expenses and other current liabilities	(21.6)	(10.1)
NET CASH PROVIDED BY OPERATING ACTIVITIES	194.3	80.4
INVESTING ACTIVITIES
Additions to property, plant and equipment	(65.5)	(75.8)
Purchases of companies, net of cash acquired	(62.5)	(152.3)
Proceeds from sales of assets and businesses	3.0	38.6
Other, net	(0.4)	0.6
NET CASH USED FOR INVESTING ACTIVITIES	(125.4)	(188.9)
FINANCING ACTIVITIES
Additions to long-term debt	2.0	0.0
Payments on long-term debt	(300.9)	(306.6)
Change in commercial paper and short-term debt	351.8	471.5
Dividends paid	(170.8)	(162.3)
Issuances of common stock	0.0	3.1
Purchases of common stock	(60.3)	(9.7)
Other, net	(1.1)	(1.2)
NET CASH USED FOR FINANCING ACTIVITIES	(179.3)	(5.2)
EFFECT OF EXCHANGE RATE CHANGES ON CASH	(25.1)	(0.5)
DECREASE IN CASH AND CASH EQUIVALENTS	(135.5)	(114.2)
CASH AND CASH EQUIVALENTS—January 1,	361.7	348.9
CASH AND CASH EQUIVALENTS—September 30,	$ 226.2	$ 234.7

INTERIM PRESENTATION	9 Months Ended
INTERIM PRESENTATION	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
INTERIM PRESENTATION	INTERIM PRESENTATION The interim financial statements of Leggett & Platt, Incorporated (we, us, or our) included herein have not been audited by an independent registered public accounting firm. The statements include all adjustments, including normal recurring accruals, which management considers necessary for a fair statement of our financial position and operating results for the periods presented. We have prepared the statements pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted pursuant to such rules and regulations. The operating results for interim periods are not necessarily indicative of results to be expected for an entire year. The December 31, 2021 financial position data included herein was derived from the audited consolidated financial statements, but does not include all disclosures required by GAAP. Accounts Receivable and Accounts Payable Programs We participate in trade receivables sales programs in combination with certain customers and third-party banking institutions. Under each of these programs, we sell our entire interest in the trade receivable for 100% of face value, less a discount. Because control of the sold receivable is transferred to the buyer at the time of sale, accounts receivable balances sold are removed from the Consolidated Condensed Balance Sheets and the related proceeds are reported as cash provided by operating activities in the Consolidated Condensed Statements of Cash Flows. We had approximately $45.0 and $35.0 of trade receivables that were sold and removed from our Consolidated Condensed Balance Sheets at September 30, 2022 and December 31, 2021, respectively. We sometimes utilize third-party programs that allow our suppliers to be paid earlier at a discount. While these programs assist us in negotiating payment terms with our suppliers, we continue to make payments based on our customary terms. A vendor can elect to take payment from a third party earlier with a discount, and in that case, we pay the third party on the original due date of the invoice. Contracts with our suppliers are negotiated independently of supplier participation in the programs, and we cannot increase payment terms pursuant to the programs. The accounts payable associated with the third-party programs, which remain on our Consolidated Condensed Balance Sheets, were approximately $80.0 at September 30, 2022 and $130.0 at December 31, 2021. While we utilize the above items as tools in our cash flow management, and offer them as options to facilitate customer and vendor operating cycles, if there were to be a cessation of these programs, we do not expect it would materially impact our operating cash flows or liquidity.

ACCOUNTING STANDARDS UPDATES	9 Months Ended
ACCOUNTING STANDARDS UPDATES	Sep. 30, 2022
Accounting Changes and Error Corrections [Abstract]
ACCOUNTING STANDARDS UPDATES	ACCOUNTING STANDARDS UPDATESThe Financial Accounting Standards Board (FASB) regularly issues updates to the FASB Accounting Standards Codification that are communicated through issuance of an Accounting Standards Update (ASU). The FASB has issued accounting guidance effective for current and future periods that did not have a material impact on our current financial statements, and we do not believe it will have any material impact on our future financial statements.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

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+ Details

REVENUE

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

REVENUE

Revenue by Product Family

We disaggregate revenue by customer group, which is the same as our product families for each of our segments, as we believe this best depicts how the nature, amount, timing, and uncertainty of our revenue and cash flows are affected by economic factors. For information on our segment structure, see Note 4.


	Nine Months Ended September 30,				Three Months Ended September 30,
	2022		2021		2022		2021
Bedding Products
Bedding Group	$	1,833.9	$	1,808.6	$	582.0	$	664.1


Specialized Products
Automotive Group	631.2		591.0		222.2		187.6
Aerospace Products Group	88.9		74.9		29.1		25.0
Hydraulic Cylinders Group	95.4		69.0		40.0		23.0
	815.5		734.9		291.3		235.6

Furniture, Flooring & Textile Products
Home Furniture Group	316.8		309.5		91.8		110.6
Work Furniture Group	247.7		205.3		77.2		72.7
Flooring & Textile Products Group	737.0		681.4		252.1		236.2
	1,301.5		1,196.2		421.1		419.5
	$	3,950.9	$	3,739.7	$	1,294.4	$	1,319.2

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

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-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

SEGMENT INFORMATION

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

SEGMENT INFORMATION

We have three operating segments that supply a wide range of products:

•Bedding Products: This segment supplies a variety of components and machinery used by bedding manufacturers in the production and assembly of their finished products, as well as produces private label finished mattresses for bedding brands 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. Our trade customers for wire make mechanical springs and many other end products.

•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 tubing and tube assemblies for the aerospace industry and engineered hydraulic cylinders used in the material-handling and construction industries.

•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 also correspond with our management organizational structure. Each reportable segment has a vice president who has accountability to, and maintains regular contact with, our chief executive officer, who is the chief operating decision maker (CODM). The operating results and financial information reported through the segment structure are regularly reviewed and used by the CODM to evaluate segment performance, allocate overall resources, and determine management incentive compensation.

The accounting principles used in the preparation of the segment information are the same as those used for the consolidated financial statements. We evaluate performance based on Earnings Before Interest and Taxes (EBIT). 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 is shown in the following tables.


	Trade 1 Sales		Inter- Segment Sales		Total Sales		EBIT		Depreciation and Amortization
Three Months Ended September 30, 2022
Bedding Products	$	582.0	$	8.8	$	590.8	$	43.9	$	25.7
Specialized Products	291.3		.5		291.8		31.3		9.7
Furniture, Flooring & Textile Products	421.1		3.8		424.9		38.3		5.7
Intersegment eliminations and other 2							(.3)		3.0
	$	1,294.4	$	13.1	$	1,307.5	$	113.2	$	44.1
Three Months Ended September 30, 2021
Bedding Products	$	664.1	$	11.4	$	675.5	$	81.1	$	27.3
Specialized Products	235.6		1.0		236.6		22.4		11.7
Furniture, Flooring & Textile Products	419.5		3.2		422.7		41.1		6.0
Intersegment eliminations and other 2							(.4)		1.6
	$	1,319.2	$	15.6	$	1,334.8	$	144.2	$	46.6


	Trade 1 Sales		Inter- Segment Sales		Total Sales		EBIT		Depreciation and Amortization
Nine Months Ended September 30, 2022
Bedding Products	$	1,833.9	$	32.2	$	1,866.1	$	189.2	$	78.1
Specialized Products	815.5		1.8		817.3		73.0		30.4
Furniture, Flooring & Textile Products	1,301.5		11.9		1,313.4		132.3		17.5
Intersegment eliminations and other 2							(.7)		8.3
	$	3,950.9	$	45.9	$	3,996.8	$	393.8	$	134.3
Nine Months Ended September 30, 2021
Bedding Products 3	$	1,808.6	$	32.4	$	1,841.0	$	245.3	$	79.8
Specialized Products	734.9		2.6		737.5		85.0		35.0
Furniture, Flooring & Textile Products	1,196.2		10.1		1,206.3		114.1		18.1
Intersegment eliminations and other 2							(.6)		7.9
	$	3,739.7	$	45.1	$	3,784.8	$	443.8	$	140.8

1 See Note 3 for revenue by product family.

2 Depreciation and Amortization: Other relates to non-operating assets (assets not included in segment assets) and is allocated to segment EBIT as discussed above.

3 2021 EBIT: Includes $28.2 gain on the sale of real estate associated with our exited Fashion Bed business.

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 (all current assets and current liabilities) plus net property, plant and equipment. Segment assets for all years are reflected at their estimated average for the periods presented.


	September 30, 2022		December 31, 2021
Bedding Products	$	946.7	$	836.0
Specialized Products	337.1		316.7
Furniture, Flooring & Textile Products	425.6		373.5

Average current liabilities included in segment numbers above	806.7		814.1
Unallocated assets 1	2,648.0		2,828.5
Difference between average assets and period-end balance sheet	11.1		138.5
Total assets	$	5,175.2	$	5,307.3

1 Unallocated assets consist primarily of goodwill, other intangibles, cash and deferred tax assets.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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-Paragraph 32
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-Topic 280
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 280
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/topic&trid=2134510

+ Details

GOODWILL IMPAIRMENT TESTING

9 Months Ended

Sep. 30, 2022

Restructuring and Related Activities [Abstract]

GOODWILL IMPAIRMENT TESTING

We test goodwill for impairment at the reporting unit level (the business groups that are one level below the operating segments) when triggering events occur, or at least annually. We perform our annual goodwill impairment testing in the second quarter. The 2022 and 2021 goodwill impairment testing indicated no impairments.

The fair values of our reporting units in relation to their respective carrying values and significant assumptions used are presented in the tables below. If actual results differ materially from estimates used in these calculations, we could incur future impairment charges.


2022
Fair Value over Carrying Value divided by Carrying Value	September 30, 2022 Goodwill Value		10-year Compound Annual Growth Rate Range for Sales	Terminal Values Long-term Growth Rate for Debt-Free Cash Flow		Discount Rate Ranges
Less than 50% 1	$	100.5	3.7% - 8.5%	3.0	%	11.8%
50% - 100% 2	989.5		2.6 - 4.8	3.0		10.3
101% - 300%	243.6		1.4 - 2.6	3.0		9.8 - 10.3
Greater than 300%	116.0		8.2	3.0		11.8
	$	1,449.6	1.4% - 8.5%	3.0	%	9.8% - 11.8%


2021
Fair Value over Carrying Value divided by Carrying Value	December 31, 2021 Goodwill Value		10-year Compound Annual Growth Rate Range for Sales	Terminal Values Long-term Growth Rate for Debt-Free Cash Flow		Discount Rate Ranges
Less than 50% 1	$	67.5	7.8%	3.0	%	10.0%
50% - 100% 2	101.0		5.5	3.0		9.0
101% - 300%	1,086.9		3.1 - 3.3	3.0		8.0 - 8.5
Greater than 300%	194.2		2.9 - 10.4	3.0		9.0
	$	1,449.6	2.9% - 10.4%	3.0	%	8.0% - 10.0%

1 This category includes two reporting units (Aerospace and Hydraulic Cylinders) for 2022 and the Aerospace unit for 2021.

•The fair value of our Aerospace reporting unit exceeded its carrying value by 40% at our second quarter 2022 testing date as compared to 28% in 2021. Goodwill associated with the Aerospace reporting unit was $65.5 at September 30, 2022 and $67.5 at December 31, 2021.

•The fair value of the Hydraulic Cylinders reporting unit exceeded its carrying value by 32% as of our second quarter 2022 testing date, compared to 86% in 2021. At the time of our annual goodwill impairment testing in both 2022 and 2021, there was no goodwill associated with this reporting unit, but an August 2022 acquisition (see Note 9) added goodwill. At September 30, 2022 the goodwill balance was $35.0.

2 This category includes two reporting units (Work Furniture and Bedding) for 2022 and the Work Furniture unit for 2021.

•The fair value of our Work Furniture reporting unit exceeded its carrying value by 78% at our second quarter 2022 testing date as compared to 85% in 2021. Goodwill associated with the Work Furniture reporting unit was $96.9 at September 30, 2022 and $101.0 at December 31, 2021.

•The fair value of our Bedding reporting unit exceeded its carrying value by 54% at our second quarter 2022 testing date as compared to 171% in 2021. Goodwill associated with the Bedding reporting unit was $892.6 at September 30, 2022 and $908.3 at December 31, 2021.

EARNINGS PER SHARE (EPS)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

EARNINGS PER SHARE (EPS)

Basic and diluted earnings per share were calculated as follows:


	Nine Months Ended September 30,				Three Months Ended September 30,
	2022		2021		2022		2021
Net earnings
Net earnings	$	257.1	$	297.0	$	71.5	$	97.2
(Earnings) attributable to noncontrolling interest, net of tax	(.1)		(.1)		(.1)		—


Net earnings attributable to Leggett & Platt, Inc. common shareholders	$	257.0	$	296.9	$	71.4	$	97.2

Weighted average number of shares (in millions):
Weighted average number of common shares used in basic EPS	136.2		136.2		135.7		136.4
Dilutive effect of stock-based compensation	.4		.5		.4		.5
Weighted average number of common shares and dilutive potential common shares used in diluted EPS	136.6		136.7		136.1		136.9

Basic and diluted EPS:



Basic EPS attributable to Leggett & Platt common shareholders	$	1.89	$	2.18	$	.53	$	.71




Diluted EPS attributable to Leggett & Platt common shareholders	$	1.88	$	2.17	$	.52	$	.71

Other information:
Anti-dilutive shares excluded from diluted EPS computation	.4		.1		.4		.2

Cash dividends declared per share	$	1.30	$	1.24	$	.44	$	.42

ACCOUNTS AND OTHER RECEIVABLES

9 Months Ended

Sep. 30, 2022

Receivables [Abstract]

ACCOUNTS AND OTHER RECEIVABLES

Accounts and other receivables consisted of the following:


	September 30, 2022						December 31, 2021
	Current		Long-term		Total		Current		Long-term		Total
Trade accounts receivable 1	$	692.5	$	—	$	692.5	$	634.2	$	—	$	634.2
Trade notes receivable	.4		.1		.5		.7		.2		.9
Total trade receivables	692.9		.1		693.0		634.9		.2		635.1


Other notes receivable 1	—		22.5		22.5		.7		22.5		23.2

Taxes receivable, including income taxes	2.1		—		2.1		4.3		—		4.3
Value-added taxes recoverable 2	41.8		—		41.8		14.5		—		14.5
Other receivables	10.6		—		10.6		12.0		—		12.0
Subtotal other receivables	54.5		22.5		77.0		31.5		22.5		54.0
Total trade and other receivables	747.4		22.6		770.0		666.4		22.7		689.1
Allowance for doubtful accounts:
Trade accounts receivable 1	(17.0)		—		(17.0)		(14.9)		—		(14.9)
Trade notes receivable	(.1)		—		(.1)		—		(.1)		(.1)
Total trade receivables	(17.1)		—		(17.1)		(14.9)		(.1)		(15.0)
Other notes receivable 1	—		(21.4)		(21.4)		—		(22.0)		(22.0)
Total allowance for doubtful accounts	(17.1)		(21.4)		(38.5)		(14.9)		(22.1)		(37.0)
Total net receivables	$	730.3	$	1.2	$	731.5	$	651.5	$	.6	$	652.1

1 The “Trade accounts receivable” and “Other notes receivable” line items above include an aggregate of $21.6 ($21.4 for the note and $.2 for the trade receivable) and $22.5 ($22.0 for the note and $.5 for the trade receivable) as of September 30, 2022 and December 31, 2021, respectively, from a customer that has experienced continued financial difficulty and liquidity problems. The balances for this customer were fully reserved for all periods presented.

2 Our value-added taxes recoverable have increased $27.3 since December 31, 2021, primarily as a result of refund delays from the Mexican government.

Activity related to the allowance for doubtful accounts is reflected below:


	Balance at December 31, 2021		Add: Charges		Less: Net Charge-offs/ (Recoveries) and Other		Balance at September 30, 2022
Trade accounts receivable	$	14.9	$	2.7	$	.6	$	17.0
Trade notes receivable	.1		—		—		.1
Total trade receivables	15.0		2.7		.6		17.1
Other notes receivable	22.0		(.6)		—		21.4
Total allowance for doubtful accounts	$	37.0	$	2.1	$	.6	$	38.5

STOCK-BASED COMPENSATION

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

STOCK-BASED COMPENSATION

The following table recaps the impact of stock-based compensation on the results of operations for each of the periods presented:


	Nine Months Ended September 30, 2022				Nine Months Ended September 30, 2021
	To be settled with stock		To be settled in cash		To be settled with stock		To be settled in cash


Executive Stock Unit (ESU) program contributions	$	2.6	$	.6	$	3.4	$	.6
Discounts on various stock awards:
Deferred Stock Compensation Program	1.2		—		1.4		—
ESU program	1.0		—		1.1		—
Discount Stock Plan	.6		—		.7		—
Performance Stock Unit (PSU) awards: 1
PSU - TSR based 1A	1.9		.5		2.3		.6
PSU - EBIT CAGR based 1B	(.4)		(.9)		4.7		5.0

Restricted Stock Unit (RSU) awards	8.5		—		7.2		—

Other, primarily non-employee directors restricted stock	1.4		—		.3		—
Total stock-related compensation expense	16.8		$	.2	21.1		$	6.2
Employee contributions for above stock plans	8.2				7.3
Total stock-based compensation	$	25.0			$	28.4

Tax benefits on stock-based compensation expense	$	4.1			$	5.1
Tax benefits on stock-based compensation payments	.6				3.4
Total tax benefits associated with stock-based compensation	$	4.7			$	8.5


	Three Months Ended				Three Months Ended
	September 30, 2022				September 30, 2021
	To be settled with stock		To be settled in cash		To be settled with stock		To be settled in cash
Executive Stock Unit (ESU) program contributions	$	.4	$	.2	$	1.0	$	.3
Discounts on various stock awards:
Deferred Stock Compensation Program	.4		—		.6		—
ESU program	.3		—		.5		—
Discount Stock Plan	.2		—		.2		—
Performance Stock Unit (PSU) awards: 1
PSU - TSR based 1A	.6		.2		.8		(.6)
PSU - EBIT CAGR based 1B	(1.6)		(1.4)		1.5		.5

Restricted Stock Unit (RSU) awards	.9		—		.8		—

Other, primarily non-employee directors restricted stock	.4		—		.1		—
Total stock-related compensation expense (income)	1.6		$	(1.0)	5.5		$	.2
Employee contributions for above stock plans	2.7				2.6
Total stock-based compensation	$	4.3			$	8.1

Tax benefits on stock-based compensation expense	$	.4			$	1.3
Tax benefits on stock-based compensation payments	—				.2
Total tax benefits associated with stock-based compensation	$	.4			$	1.5

1 PSU Awards

For the following programs, we intend to pay 50% in shares of our common stock and 50% in cash, although we reserve the right, subject to Human Resources and Compensation Committee approval, to pay up to 100% in cash. Cash settlements are recorded as a liability and adjusted to fair value at each reporting period.

1A PSU - TSR based

PSU awards are based 50% upon our TSR compared to a peer group. A small number of PSU awards are based 100% upon relative TSR for certain business unit employees to complement their particular mix of incentive compensation. Grant date fair values are calculated using a Monte Carlo simulation of stock and volatility data for Leggett & Platt, Incorporated and each of the peer companies. Grant date fair values are amortized using the straight-line method over the three-year vesting period.

The relative TSR component of the PSU awards contain the following conditions:

•A service requirement—Awards generally “cliff” vest three years following the grant date; and

•A market condition—Awards are based on our TSR as compared to the TSR of a group of peer companies. The peer group consists of all the companies in the Industrial, Materials, and Consumer Discretionary sectors of the S&P 500 and S&P Midcap 400 (approximately 300 companies). Participants will earn from 0% to 200% of the base award depending upon how our TSR ranks within the peer group at the end of the three-year performance period.

1B PSU - EBIT CAGR based

PSU awards are based 50% upon our, or the applicable profit center's, EBIT CAGR. Grant date fair values are calculated using the grant date stock price discounted for dividends over the vesting period. Expense is adjusted every quarter over the three-year vesting period based on the number of shares expected to vest.

The EBIT CAGR component of the PSU awards contain the following conditions:

•A service requirement—Awards generally “cliff” vest three years following the grant date; and

•A performance condition—Awards are based on achieving specified EBIT CAGR performance targets for the total company's, or the applicable profit center's, EBIT during the third year of the performance period compared to EBIT during the fiscal year immediately preceding the performance period. Participants will earn from 0% to 200% of the base award.

Below is a summary of shares and grant date fair value related to PSU awards for the periods presented:


	Nine Months Ended September 30,
	2022			2021
TSR based
Total shares base award	.1			.1
Grant date per share fair value	$	41.13		$	49.43
Risk-free interest rate	.2		%	.2		%
Vesting period in years	3.0			3.0
Expected volatility (over expected life)	45.2		%	44.3		%
Expected dividend yield (over expected life)	4.6		%	3.7		%

EBIT CAGR based
Total shares base award	.1			.1
Grant date per share fair value	$	32.88		$	38.77
Vesting period in years	3.0			3.0

Three-Year Performance Cycle for PSU - TSR Based

Award Year

Completion Date

Payout as a
Percent of the
Base Award

Number of Shares
Distributed

Cash Portion

Distribution Date

TSR Performance
Relative to the Peer Group (1%=Best)

2018

December 31, 2020

56.0%

<.1 million

2.0

First quarter 2021

th percentile

2019

December 31, 2021

—%

— million

—

First quarter 2022

th percentile

Three-Year Performance Cycle for PSU - EBIT CAGR Based

Award Year

Completion Date

Payout as a
Percent of the
Base Award

Number of Shares
Distributed

Cash Portion

Distribution Date

2018

December 31, 2020

16.0%

< .1 million

First quarter 2021

2019

December 31, 2021

127.0%

< .1 million

3.5

First quarter 2022

ACQUISITIONS

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

ACQUISITIONS

ACQUISITIONSThe following table contains the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for all acquisitions during the periods presented (using inputs as discussed in Note 13). A portion of the goodwill included in the table below is expected to provide an income tax benefit.


	Nine Months Ended September 30,
	2022		2021
Accounts receivable	$	30.4	$	20.7
Inventory	36.5		17.4
Property, plant and equipment	5.8		15.3
Goodwill	35.9		76.9
Other intangible assets:
Customer relationships (15-year life)	39.5		45.5
Technology (8 to 15-year life)	5.0		18.6
Trademarks and trade names (15 to 20-year life)	1.2		6.6
Non-compete agreements and other (1 to 10-year life)	1.2		2.7
Other current and long-term assets	5.8		5.5
Current liabilities	(51.9)		(40.8)
Deferred income taxes	(16.7)		(10.9)
Other long-term liabilities	(2.6)		(4.7)

Fair value of net identifiable assets	90.1		152.8
Less: Additional contingent consideration payable	27.6		.5




Net cash consideration	$	62.5	$	152.3

The following table summarizes acquisitions for the periods presented.

Nine Months Ended

Number of Acquisitions

Segment

Product/Service

September 30, 2022

Furniture, Flooring & Textile Products

Converter and distributor of construction fabrics for the furniture and bedding industries;

Specialized Products

Manufacturer of hydraulic cylinders for heavy construction machinery;

September 30, 2021

Bedding Products

Manufacturer of specialty foam for the bedding and furniture industries;

Furniture, Flooring & Textile Products

Manufacturer of bent metal tubing for furniture used in office, residential, and other settings;

Specialized Products

Manufacturer of high-pressure and high-temperature ducting, flexible joints and components

We are finalizing all of the information required to complete the purchase price allocations related to the most recent acquisitions and updated information will be reported as a measurement period adjustment in future quarters.

The results of operations of the above acquired companies have been included in the consolidated financial statements since the date of acquisition. The unaudited pro forma consolidated net sales, net earnings and earnings per share as though these acquisitions had occurred on January 1 of each year presented is not materially different from the amounts reflected in the accompanying financial statements.

Certain of our acquisition agreements provide for additional contingent consideration to be paid based upon analysis of the closing balance sheet and if the acquired company's performance exceeds certain targeted levels through December 31, 2025. Such additional consideration will be paid in cash and the liability is recorded at discounted fair value at the acquisition date. The range of the undiscounted amounts we could be required to pay is currently estimated to be between $9.0 and $58.0. Components of the liability are based on estimates and contingent upon future events, therefore, the amounts may fluctuate materially until the payment dates. At September 30, 2022 our liability for these future payments was $27.0 ($11.0 current and $16.0 long-term). Subsequent remeasurement of the estimate will be recorded in "Other expense (income), net" in the Consolidated Condensed Statements of Operations.

A brief description of our acquisition activity during the periods presented is included below.

2022

We acquired two businesses:

•A converter and distributor of construction fabrics and other supply items for the furniture and bedding industries. This acquisition became a part of our Furniture, Flooring & Textile Products segment. The acquisition date was August 22. The purchase price was $2.3, with total goodwill of $.1.

•A leading global manufacturer of hydraulic cylinders for heavy construction machinery. This business has manufacturing locations in Germany and China and a distribution facility in the United States. This acquisition expands the capabilities of our hydraulic cylinder business to grow our presence in engineered industrial components and operates within our Specialized Products segment. The acquisition date was August 26. The purchase price was $87.8, with total goodwill of $35.8.

2021

We acquired three businesses:

•A specialty foam and finished mattress manufacturer serving the United Kingdom (UK) and Irish marketplace with two manufacturing facilities in the Dublin area. This acquisition became a part of our Bedding Products segment. The acquisition date was June 4. Following the recording of measurement period adjustments subsequent to third quarter 2021 shown above, the final purchase price was $119.7, with total goodwill of $58.3.

•A Polish manufacturer of bent metal tubing for furniture used in office, residential, and other settings. This acquisition became a part of our Furniture, Flooring & Textile Products segment. The acquisition date was May 31. Following the recording of measurement period adjustments subsequent to third quarter 2021 shown above, the final purchase price was $5.4, with total goodwill of $4.4.

•A UK manufacturer specializing in metallic ducting systems, flexible joints, and components for space, military, and commercial applications. This acquisition expands the capabilities of our aerospace products business to include flexible joint fabrication and operates within our Specialized Products segment. The acquisition date was January 30. Following the recording of measurement period adjustments subsequent to third quarter 2021 shown above, the final purchase price was $27.7, with total goodwill of $8.5.

INVENTORIES

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

INVENTORIES

The following table recaps the components of inventory for each period presented:


	September 30, 2022		December 31, 2021
Finished goods	$	415.8	$	429.1
Work in process	75.3		66.9
Raw materials and supplies	484.9		497.2

Inventories	$	976.0	$	993.2

All inventories are stated at the lower of cost or net realizable value. We generally use standard costs which include materials, labor, and production overhead at normal production capacity.

Inventories are reviewed at least quarterly for slow-moving and potentially obsolete items using actual inventory turnover and, if necessary, are written down to estimated net realizable value. We have had no material changes in inventory writedowns or slow-moving and obsolete inventory reserves in any of the periods presented.

EMPLOYEE BENEFIT PLANS

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

EMPLOYEE BENEFIT PLANS

We expect to contribute approximately $3.0 to our defined benefit pension plans in 2022.

The following table provides interim information as to our defined benefit pension plans:


	Nine Months Ended September 30,				Three Months Ended September 30,
	2022		2021		2022		2021
Components of net pension expense
Service cost	$	3.9	$	3.8	$	1.2	$	1.3
Interest cost	5.0		4.5		1.7		1.5
Expected return on plan assets	(9.9)		(9.5)		(3.3)		(3.2)
Recognized net actuarial loss	2.0		3.9		.6		1.3
Net pension expense	$	1.0	$	2.7	$	.2	$	.9

The components of net pension expense, other than the service cost component, are included in the line item “Other expense (income), net” in the Consolidated Condensed Statements of Operations.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

STATEMENT OF CHANGES IN EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

STATEMENT OF CHANGES IN EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)


	Three Months Ended September 30, 2022
	Total Equity		Retained Earnings		Common Stock & Additional Contributed Capital		Treasury Stock		Noncontrolling Interest		Accumulated Other Comprehensive Income (Loss)
Beginning balance, July 1, 2022	$	1,614.6	$	3,041.3	$	563.3	$	(1,881.4)	$	.6	$	(109.2)


Net earnings	71.5		71.4		—		—		.1		—

Dividends declared (See Note 6)	(58.4)		(59.7)		1.3		—		—		—

Treasury stock purchased	(3.5)		—		—		(3.5)		—		—
Treasury stock issued	1.4		—		—		1.4		—		—
Foreign currency translation adjustments	(61.7)		—		—		—		(.1)		(61.6)
Cash flow hedges, net of tax	(4.2)		—		—		—		—		(4.2)
Defined benefit pension plans, net of tax	.9		—		—		—		—		.9
Stock-based compensation transactions, net of tax	2.2		—		2.2		—		—		—

Ending balance, September 30, 2022	$	1,562.8	$	3,053.0	$	566.8	$	(1,883.5)	$	.6	$	(174.1)


	Three Months Ended September 30, 2021
	Total Equity		Retained Earnings		Common Stock & Additional Contributed Capital		Treasury Stock		Noncontrolling Interest		Accumulated Other Comprehensive Income (Loss)
Beginning balance, July 1, 2021	$	1,536.0	$	2,885.0	$	548.6	$	(1,850.1)	$	1.8	$	(49.3)


Net earnings	97.2		97.2		—		—		—		—
Dividends declared (See Note 6)	(56.1)		(57.4)		1.3		—		—		—

Treasury stock purchased	(.3)		—		—		(.3)		—		—
Treasury stock issued	1.9		—		(.5)		2.4		—		—
Foreign currency translation adjustments	(15.7)		—		—		—		—		(15.7)
Cash flow hedges, net of tax	8.3		—		—		—		—		8.3
Defined benefit pension plans, net of tax	1.0		—		—		—		—		1.0
Stock-based compensation transactions, net of tax	5.3		—		5.3		—		—		—

Ending balance, September 30, 2021	$	1,577.6	$	2,924.8	$	554.7	$	(1,848.0)	$	1.8	$	(55.7)


	Nine Months Ended September 30, 2022
	Total Equity		Retained Earnings		Common Stock & Additional Contributed Capital		Treasury Stock		Noncontrolling Interest		Accumulated Other Comprehensive Income (Loss)
Beginning balance, January 1, 2022	$	1,648.6	$	2,973.0	$	559.9	$	(1,846.6)	$	.6	$	(38.3)


Net earnings	257.1		257.0		—		—		.1		—

Dividends declared (See Note 6)	(173.1)		(177.0)		3.9		—		—		—

Treasury stock purchased	(60.3)		—		—		(60.3)		—		—
Treasury stock issued	8.3		—		(15.1)		23.4		—		—
Foreign currency translation adjustments	(131.5)		—		—		—		(.1)		(131.4)
Cash flow hedges, net of tax	(6.0)		—		—		—		—		(6.0)
Defined benefit pension plans, net of tax	1.6		—		—		—		—		1.6
Stock-based compensation transactions, net of tax	18.1		—		18.1		—		—		—

Ending balance, September 30, 2022	$	1,562.8	$	3,053.0	$	566.8	$	(1,883.5)	$	.6	$	(174.1)


	Nine Months Ended September 30, 2021
	Total Equity		Retained Earnings		Common Stock & Additional Contributed Capital		Treasury Stock		Noncontrolling Interest		Accumulated Other Comprehensive Income (Loss)
Beginning balance, January 1, 2021	$	1,425.1	$	2,797.2	$	545.2	$	(1,865.4)	$	.5	$	(52.4)


Net earnings	297.0		296.9		—		—		.1		—

Dividends declared (See Note 6)	(165.4)		(169.3)		3.9		—		—		—

Treasury stock purchased	(12.1)		—		—		(12.1)		—		—
Treasury stock issued	9.3		—		(20.2)		29.5		—		—
Foreign currency translation adjustments	(16.5)		—		—		—		—		(16.5)
Cash flow hedges, net of tax	10.5		—		—		—		—		10.5
Defined benefit pension plans, net of tax	2.7		—		—		—		—		2.7
Stock-based compensation transactions, net of tax	25.5		—		25.5		—		—		—
Purchase of remaining interest in noncontrolling interest, net of acquisitions	1.5		—		.3		—		1.2		—
Ending balance, September 30, 2021	$	1,577.6	$	2,924.8	$	554.7	$	(1,848.0)	$	1.8	$	(55.7)

The following tables set forth the components of and changes in each component of accumulated other comprehensive income (loss) for each of the periods presented:


			Three Months Ended September 30,
			Foreign Currency Translation Adjustments		Cash Flow Hedges		Defined Benefit Pension Plans		Accumulated Other Comprehensive Income (Loss)
Balance, July 1, 2022			$	(81.5)	$	10.1	$	(37.8)	$	(109.2)
Other comprehensive income (loss)			(61.7)		(5.1)		.6		(66.2)
Reclassifications, pretax 1			—		(.1)		.6		.5
Income tax effect			—		1.0		(.3)		.7
Attributable to noncontrolling interest			.1		—		—		.1
Balance, September 30, 2022			$	(143.1)	$	5.9	$	(36.9)	$	(174.1)

Balance, July 1, 2021			$	5.6	$	3.6	$	(58.5)	$	(49.3)
Other comprehensive income (loss)			(15.7)		11.6		—		(4.1)
Reclassifications, pretax 2			—		(.3)		1.3		1.0
Income tax effect			—		(3.0)		(.3)		(3.3)

Balance, September 30, 2021			$	(10.1)	$	11.9	$	(57.5)	$	(55.7)

	1	2022 pretax reclassifications are comprised of:
		Net trade sales	$	—	$	(.6)	$	—	$	(.6)
		Cost of goods sold; selling and administrative expenses	—		(.1)		—		(.1)
		Interest expense	—		.6		—		.6
		Other income (expense), net	—		—		.6		.6

		Total reclassifications, pretax	$	—	$	(.1)	$	.6	$	.5

	2	2021 pretax reclassifications are comprised of:
		Net trade sales	$	—	$	(1.5)	$	—	$	(1.5)
		Cost of goods sold; selling and administrative expenses	—		.1		—		.1
		Interest expense	—		1.1		—		1.1
		Other income (expense), net	—		—		1.3		1.3
		Total reclassifications, pretax	$	—	$	(.3)	$	1.3	$	1.0


			Nine Months Ended September 30,
			Foreign Currency Translation Adjustments		Cash Flow Hedges		Defined Benefit Pension Plans		Accumulated Other Comprehensive Income (Loss)
Balance, January 1, 2022			$	(11.7)	$	11.9	$	(38.5)	$	(38.3)
Other comprehensive income (loss)			(131.5)		(5.6)		(.4)		(137.5)
Reclassifications, pretax 1			—		(1.7)		2.0		.3
Income tax effect			—		1.3		—		1.3
Attributable to noncontrolling interest			.1		—		—		.1
Balance, September 30, 2022			$	(143.1)	$	5.9	$	(36.9)	$	(174.1)

Balance, January 1, 2021			$	6.4	$	1.4	$	(60.2)	$	(52.4)
Other comprehensive income (loss)			(16.5)		15.1		(.3)		(1.7)
Reclassifications, pretax 2			—		(1.0)		3.9		2.9
Income tax effect			—		(3.6)		(.9)		(4.5)

Balance, September 30, 2021			$	(10.1)	$	11.9	$	(57.5)	$	(55.7)

	1	2022 pretax reclassifications are comprised of:
		Net trade sales	$	—	$	(3.4)	$	—	$	(3.4)
		Cost of goods sold; selling and administrative expenses	—		(.7)		—		(.7)
		Interest expense	—		2.4		—		2.4
		Other income (expense), net	—		—		2.0		2.0

		Total reclassifications, pretax	$	—	$	(1.7)	$	2.0	$	.3

	2	2021 pretax reclassifications are comprised of:
		Net trade sales	$	—	$	(4.9)	$	—	$	(4.9)
		Cost of goods sold; selling and administrative expenses	—		.5		—		.5
		Interest expense	—		3.4		—		3.4
		Other income (expense), net	—		—		3.9		3.9
		Total reclassifications, pretax	$	—	$	(1.0)	$	3.9	$	2.9

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

FAIR VALUE

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

FAIR VALUE

We utilize fair value measures for both financial and non-financial assets and liabilities.

Items measured at fair value on a recurring basis

Fair value measurements are established using a three-level valuation hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into the following categories:

•Level 1: Quoted prices for identical assets or liabilities in active markets.

•Level 2: Inputs, other than quoted prices included in Level 1, that are observable for the asset or liability either directly or indirectly. Short-term investments in this category are valued using discounted cash flow techniques with all significant inputs derived from or supported by observable market data. Derivative assets and liabilities in this category are valued using models that consider various assumptions and information from market-corroborated sources. The models used are primarily industry-standard models that consider items such as quoted prices, market interest rate curves applicable to the instruments being valued as of the end of each period, discounted cash flows, volatility factors, current market, and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace, can be derived from observable data, or are supported by observable levels at which transactions are executed in the marketplace.

•Level 3: Unobservable inputs that are not corroborated by market data.

The areas in which we utilize fair value measures of financial assets and liabilities are presented in the table below.


	As of September 30, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Bank time deposits with original maturities of three months or less	$	—	$	90.9	$	—	$	90.9
Derivative assets 1 (Note 14)	—		5.1		—		5.1
Diversified investments associated with the ESU program 1	39.8		—		—		39.8
Total assets	$	39.8	$	96.0	$	—	$	135.8
Liabilities:
Derivative liabilities 1 (Note 14)	$	—	$	12.6	$	—	$	12.6
Liabilities associated with the ESU program 1	40.4		—		—		40.4
Total liabilities	$	40.4	$	12.6	$	—	$	53.0


	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Bank time deposits with original maturities of three months or less	$	—	$	114.4	$	—	$	114.4
Derivative assets 1 (Note 14)	—		5.9		—		5.9
Diversified investments associated with the ESU program 1	51.0		—		—		51.0
Total assets	$	51.0	$	120.3	$	—	$	171.3
Liabilities:
Derivative liabilities 1 (Note 14)	$	—	$	1.2	$	—	$	1.2
Liabilities associated with the ESU program 1	50.9		—		—		50.9
Total liabilities	$	50.9	$	1.2	$	—	$	52.1

1 Includes both current and long-term amounts.

There were no transfers between Level 1 and Level 2 for any of the periods presented.

The fair value for fixed rate debt (Level 1) was approximately $230.0 less than carrying value of $1,784.0 at September 30, 2022 and was approximately $130.0 greater than carrying value of $2,082.3 at December 31, 2021.

Items measured at fair value on a non-recurring basis

The primary areas in which we utilize fair value measurements of non-financial assets and liabilities are allocating purchase price to the assets and liabilities of acquired companies (Note 9) and evaluating long-term assets (including goodwill) for potential impairment. Determining fair values for these items requires significant judgment and includes a variety of methods and models that utilize significant Level 3 inputs.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

DERIVATIVE FINANCIAL INSTRUMENTS

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

DERIVATIVE FINANCIAL INSTRUMENTS

Cash Flow Hedges

Derivative financial instruments that we use to hedge forecasted transactions and anticipated cash flows are as follows:

Currency Cash Flow Hedges—The foreign currency hedges manage risk associated with exchange rate volatility of various currencies.

Interest Rate Cash Flow Hedges—We have also occasionally used interest rate cash flow hedges to manage interest rate risks.

The effective changes in fair value of unexpired contracts are recorded in accumulated other comprehensive income and reclassified to income or expense in the period in which earnings are impacted. Cash flows from settled contracts are presented

in the category consistent with the nature of the item being hedged. (Settlements associated with the sale or production of product are presented in operating cash flows, and settlements associated with debt issuance are presented in financing cash flows.)

Fair Value Hedges and Derivatives not Designated as Hedging Instruments

These derivatives typically manage foreign currency risk associated with subsidiaries’ assets and liabilities, and gains or losses are recognized currently in earnings. Cash flows from settled contracts are presented in the category consistent with the nature of the item being hedged.

The following table presents assets and liabilities representing the fair value of our most significant derivative financial instruments. The fair values of the derivatives reflect the change in the market value of the derivative from the date of the trade execution and do not consider the offsetting underlying hedged item.


	Expiring at various dates through:	Total USD Equivalent Notional Amount	As of September 30, 2022
Derivatives			Assets				Liabilities
			Other Current Assets		Sundry		Other Current Liabilities		Other Long-Term Liabilities
Designated as hedging instruments

Total cash flow hedges-currency hedges	Mar 2024	253.2	$	4.6	$	.1	$	9.4	$	.7
Total fair value hedges	Jan 2023	56.6	—		—		1.5		—
Not designated as hedging instruments	Sep 2023	94.8	.4		—		1.0		—
Total derivatives			$	5.0	$	.1	$	11.9	$	.7


	Expiring at various dates through:	Total USD Equivalent Notional Amount	As of December 31, 2021
Derivatives			Assets				Liabilities
			Other Current Assets		Sundry		Other Current Liabilities		Other Long-Term Liabilities
Designated as hedging instruments
Total cash flow hedges-currency hedges	Jun 2023	260.6	$	5.1	$	—	$	.7	$	.1
Total fair value hedges	Mar 2022	54.2	.4		—		—		—
Not designated as hedging instruments	Dec 2022	40.1	.4		—		.4		—
Total derivatives			$	5.9	$	—	$	1.1	$	.1

The following table sets forth the pretax (gains) losses for our hedging activities for the periods presented. This schedule includes reclassifications from accumulated other comprehensive income (see Note 12) as well as derivative settlements recorded directly to income or expense.


Derivatives	Income Statement Caption	Amount of (Gain) Loss Recorded in Income Nine Months Ended September 30,				Amount of (Gain) Loss Recorded in Income Three Months Ended September 30,
		2022		2021		2022		2021
Designated as hedging instruments

Interest rate cash flow hedges	Interest expense	$	2.4	$	3.4	$	.6	$	1.1
Currency cash flow hedges	Net trade sales	(1.7)		(7.4)		.6		(2.5)
Currency cash flow hedges	Cost of goods sold	(1.9)		.1		(.8)		(.2)

Total cash flow hedges		(1.2)		(3.9)		.4		(1.6)
Fair value hedges	Other expense (income), net	4.9		(5.5)		3.9		(1.5)

Not designated as hedging instruments	Other expense (income), net	(2.2)		(1.4)		(2.3)		(1.2)

Total derivative instruments		$	1.5	$	(10.8)	$	2.0	$	(4.3)

OTHER EXPENSE (INCOME), NET

9 Months Ended

Sep. 30, 2022

Other Income and Expenses [Abstract]

OTHER EXPENSE (INCOME), NET

The components of other expense (income), net were as follows:


	Nine Months Ended September 30,				Three Months Ended September 30,
	2022		2021		2022		2021


Restructuring charges (income)	$	1.4	$	(.3)	$	1.4	$	—

Currency (income) loss	(2.7)		.9		(2.0)		(.5)

Loss (gain) from diversified investments associated with Executive Stock Unit Program (See Note 8)	11.2		(3.9)		2.3		.4
Insurance proceeds 1	—		(6.6)		—		(6.6)
COVID-19 government subsidies 2	—		(2.8)		—		(1.3)
Other income	(3.4)		(2.8)		(1.1)		(.6)
	$	6.5	$	(15.5)	$	.6	$	(8.6)

1 The three and nine-month periods ending September 30, 2021 represents the receipt of $5.0 from a business interruption policy for COVID disruptions and $1.6 for storm damage at a manufacturing facility.

2 This represents government subsidies in our international locations, which do not contain material restrictions on our operations, sources of funding or otherwise.

CONTINGENCIES

9 Months Ended

Sep. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

CONTINGENCIES

We are a party to various proceedings and matters involving employment, intellectual property, environmental, taxation, vehicle-related personal injury, antitrust, and other laws. When it is probable, in management's judgment, that we may incur monetary damages or other costs resulting from these proceedings or other claims, and we can reasonably estimate the amounts, we record appropriate accruals in the financial statements and make charges against earnings. For all periods presented, we have recorded no material charges against earnings. Also, when it is reasonably possible that we may incur additional loss in excess of recorded accruals, and we can reasonably estimate the additional losses or range of losses, we disclose such additional reasonably possible losses in these notes.

Accruals and Reasonably Possible Losses in Excess of Accruals

Accruals for Probable Losses

Although we deny liability in all threatened or pending litigation proceedings in which we are or may be a party, and believe that we have valid bases to contest all claims threatened or made against us, we have recorded a litigation contingency accrual for our reasonable estimate of probable loss for pending and threatened litigation proceedings, in the aggregate, of less than $3.0 for all periods presented. There were no material adjustments to the accrual, including cash payments and expense, for the three and nine-month periods ending September 30, 2022 and September 30, 2021. The accruals do not include accrued expenses related to workers' compensation, vehicle-related personal injury, product and general liability claims, taxation issues and environmental matters, some of which may contain a portion of litigation expense. However, any litigation expense associated with these categories is not anticipated to have a material effect on our financial condition, results of operations, or cash flows.

Reasonably Possible Losses in Excess of Accruals

Although there are a number of uncertainties and potential outcomes associated with our pending or threatened litigation proceedings, we believe, based on current known facts, that additional losses, if any, are not expected to materially affect our consolidated financial position, results of operations, or cash flows. However, based upon current known facts, as of September 30, 2022, aggregate reasonably possible (but not probable, and therefore, not accrued) losses in excess of the accruals noted above are estimated to be $10.5. If our assumptions or analyses regarding any of our contingencies are incorrect, or if facts change, we could realize losses in excess of the recorded accruals (and in excess of the $10.5 referenced above), which could have a material negative impact on our financial condition, results of operations, and cash flows. Also, we may be subject to future litigation of various types (including but not limited to litigation related to employment, intellectual property, environmental, taxation, vehicle-related personal injury, antitrust, climate change, and others) that could negatively impact our financial condition, results of operations, and cash flows.

RISKS AND UNCERTAINTIES	9 Months Ended
RISKS AND UNCERTAINTIES	Sep. 30, 2022
Risks And Uncertainties, Unusual Items [Abstract]
RISKS AND UNCERTAINTIES	RISKS AND UNCERTAINTIES Our Board of Directors oversees the identification, analysis, and mitigation of emerging risks, including the items discussed below. The Russian invasion of Ukraine has caused supply chain disruptions and global inflationary impacts that have had, and could continue to have, a negative effect on the demand for our products and our results of operations. Although we do not have operations in Russia, Belarus, or Ukraine, and we have not had a material amount of sales into these countries, some of our businesses have sourced, directly or indirectly, a portion of their supply chain requirements of nickel, titanium, and birch plywood from Russia. Our Aerospace business uses nickel and titanium in the production of aerospace tubing. Several of our businesses use birch plywood in their products. Also, a significant portion of neon gas is produced in Ukraine. Our Automotive business uses semiconductors, the production of which uses neon gas. Since the invasion began, the prices of these materials have significantly increased. When we experience significant increases in costs, we are generally successful in recovering the costs by implementing price increases. If we are not able to pass through the increased costs to our customers, or if we are unable to obtain the necessary raw materials (or alternatives) in a timely manner, our results of operations could be negatively impacted. If the conflict in Ukraine expands geographically or in intensity, this may have a negative impact on our operations, including access to energy and other raw materials. A significant portion of global oil production is refined and exported from Russia. Certain countries, including the United States, the United Kingdom, and Canada, have banned the import of Russian oil. With decreased supply availability, fuel costs have increased, and may continue to increase. This has impacted, and may continue to impact, both our businesses and consumers. Also, there has been a reduction of natural gas exports from Russia to Europe from sanction-related impacts and disruption in pipeline delivery, resulting in shortages and higher prices. Higher energy prices have contributed to broader inflationary trends, which have resulted, in some cases, in reduced discretionary consumer spending. If this continues, the demand for our products may be negatively impacted, which would have a negative impact on our results of operations. Because of the COVID-19 pandemic, various governments in North America, Europe, Asia, and elsewhere instituted, and some have reinstituted, quarantines, shelter-in-place or stay-at-home orders, or restrictions on public gatherings as well as limitations on social interactions, which have had, and could further have, an adverse effect on the demand for our products. All of our facilities are open and running at this time. If our manufacturing operations are not fully operational, our ability to obtain necessary raw materials and parts, to manufacture and ship finished products to our customers, and to maintain appropriate labor levels, could be negatively impacted, particularly if we are unable to shift production to other manufacturing facilities. Some of our facilities in China, most notably in our Automotive and Home Furniture businesses, have been temporarily closed from time to time due to strict COVID-related lockdown requirements. If the lockdowns in China are imposed on a broader geographic scope, this could materially negatively impact our manufacturing capacity, our customers or vendors, and our ability to transport goods in our supply chain. We have also had, at various times, some capacity restrictions on our plants due to governmental orders in other parts of the world. We have been and could be further negatively affected by governmental action in any one or more of the countries in which we operate by the imposition, or re-imposition, of restrictive social measures, mandatory closures of retail establishments that sell our products or our customers’ products, travel restrictions, and restrictions on the import or export of products. The continued realization of these risks to our manufacturing operations, labor force, and supply chain could also increase labor, commodity, and transportation costs. Supply chain disruptions have continued into 2022, most notably in semiconductors, labor, and transportation, potentially constraining volume growth. Currently there is a shortage of semiconductors in the automotive industry. Automotive OEMs and other suppliers have not been able to secure an adequate supply of semiconductors, and as a result have reduced or completely shut down their production of some automobiles or parts, which in turn has reduced our sale of products. Consumer demand remains strong, but the semiconductor shortage has pushed vehicle inventory to very low levels. Our Automotive Group uses the semiconductors in seat comfort products, and to a lesser extent in motors and actuators. Although our Automotive Group has been able to obtain an adequate supply of semiconductors, we are dependent on our suppliers to deliver these semiconductors in accordance with our production schedule. A shortage of the semiconductors, either to us, the automotive OEMs, or our suppliers, can disrupt our operations and our ability to deliver products to our customers. The shortage of semiconductors is also impacting our Adjustable Bed business unit. Shortages in the labor markets in several industries in which we operate have created challenges in hiring and maintaining adequate workforce levels. Because of these shortages, we have experienced increased labor costs. If this continues, our results of operations may be materially negatively impacted. Some facilities have experienced disruptions in logistics necessary to import, export, or transfer raw materials or finished goods, which has generally resulted in increased freight costs that are typically passed through to our customers. Our supply chains have also been hampered by congested ports.

INTERIM PRESENTATION (Policies)	9 Months Ended
INTERIM PRESENTATION (Policies)	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Interim Presentation	The interim financial statements of Leggett & Platt, Incorporated (we, us, or our) included herein have not been audited by an independent registered public accounting firm. The statements include all adjustments, including normal recurring accruals, which management considers necessary for a fair statement of our financial position and operating results for the periods presented. We have prepared the statements pursuant to the rules and regulations of the Securities and Exchange Commission (SEC). Accordingly, certain information and footnote disclosures normally included in financial statements prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) have been condensed or omitted pursuant to such rules and regulations. The operating results for interim periods are not necessarily indicative of results to be expected for an entire year.
Accounts Receivable	Accounts Receivable and Accounts Payable Programs We participate in trade receivables sales programs in combination with certain customers and third-party banking institutions. Under each of these programs, we sell our entire interest in the trade receivable for 100% of face value, less a discount. Because control of the sold receivable is transferred to the buyer at the time of sale, accounts receivable balances sold are removed from the Consolidated Condensed Balance Sheets and the related proceeds are reported as cash provided by operating activities in the Consolidated Condensed Statements of Cash Flows. We had approximately $45.0 and $35.0 of trade receivables that were sold and removed from our Consolidated Condensed Balance Sheets at September 30, 2022 and December 31, 2021, respectively. We sometimes utilize third-party programs that allow our suppliers to be paid earlier at a discount. While these programs assist us in negotiating payment terms with our suppliers, we continue to make payments based on our customary terms. A vendor can elect to take payment from a third party earlier with a discount, and in that case, we pay the third party on the original due date of the invoice. Contracts with our suppliers are negotiated independently of supplier participation in the programs, and we cannot increase payment terms pursuant to the programs. The accounts payable associated with the third-party programs, which remain on our Consolidated Condensed Balance Sheets, were approximately $80.0 at September 30, 2022 and $130.0 at December 31, 2021. While we utilize the above items as tools in our cash flow management, and offer them as options to facilitate customer and vendor operating cycles, if there were to be a cessation of these programs, we do not expect it would materially impact our operating cash flows or liquidity.
Accounts Payable Programs	Accounts Receivable and Accounts Payable Programs We participate in trade receivables sales programs in combination with certain customers and third-party banking institutions. Under each of these programs, we sell our entire interest in the trade receivable for 100% of face value, less a discount. Because control of the sold receivable is transferred to the buyer at the time of sale, accounts receivable balances sold are removed from the Consolidated Condensed Balance Sheets and the related proceeds are reported as cash provided by operating activities in the Consolidated Condensed Statements of Cash Flows. We had approximately $45.0 and $35.0 of trade receivables that were sold and removed from our Consolidated Condensed Balance Sheets at September 30, 2022 and December 31, 2021, respectively. We sometimes utilize third-party programs that allow our suppliers to be paid earlier at a discount. While these programs assist us in negotiating payment terms with our suppliers, we continue to make payments based on our customary terms. A vendor can elect to take payment from a third party earlier with a discount, and in that case, we pay the third party on the original due date of the invoice. Contracts with our suppliers are negotiated independently of supplier participation in the programs, and we cannot increase payment terms pursuant to the programs. The accounts payable associated with the third-party programs, which remain on our Consolidated Condensed Balance Sheets, were approximately $80.0 at September 30, 2022 and $130.0 at December 31, 2021. While we utilize the above items as tools in our cash flow management, and offer them as options to facilitate customer and vendor operating cycles, if there were to be a cessation of these programs, we do not expect it would materially impact our operating cash flows or liquidity.
New Accounting Guidance	The Financial Accounting Standards Board (FASB) regularly issues updates to the FASB Accounting Standards Codification that are communicated through issuance of an Accounting Standards Update (ASU). The FASB has issued accounting guidance effective for current and future periods that did not have a material impact on our current financial statements, and we do not believe it will have any material impact on our future financial statements.
Revenue	Revenue by Product FamilyWe disaggregate revenue by customer group, which is the same as our product families for each of our segments, as we believe this best depicts how the nature, amount, timing, and uncertainty of our revenue and cash flows are affected by economic factors.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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+ Details

REVENUE (Tables)

9 Months Ended

Sep. 30, 2022

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue by Major Source


	Nine Months Ended September 30,				Three Months Ended September 30,
	2022		2021		2022		2021
Bedding Products
Bedding Group	$	1,833.9	$	1,808.6	$	582.0	$	664.1


Specialized Products
Automotive Group	631.2		591.0		222.2		187.6
Aerospace Products Group	88.9		74.9		29.1		25.0
Hydraulic Cylinders Group	95.4		69.0		40.0		23.0
	815.5		734.9		291.3		235.6

Furniture, Flooring & Textile Products
Home Furniture Group	316.8		309.5		91.8		110.6
Work Furniture Group	247.7		205.3		77.2		72.7
Flooring & Textile Products Group	737.0		681.4		252.1		236.2
	1,301.5		1,196.2		421.1		419.5
	$	3,950.9	$	3,739.7	$	1,294.4	$	1,319.2

SEGMENT INFORMATION (Tables)

9 Months Ended

Sep. 30, 2022

Segment Reporting [Abstract]

Summary of Segment Results from Continuing Operations

A summary of segment results is shown in the following tables.


	Trade 1 Sales		Inter- Segment Sales		Total Sales		EBIT		Depreciation and Amortization
Three Months Ended September 30, 2022
Bedding Products	$	582.0	$	8.8	$	590.8	$	43.9	$	25.7
Specialized Products	291.3		.5		291.8		31.3		9.7
Furniture, Flooring & Textile Products	421.1		3.8		424.9		38.3		5.7
Intersegment eliminations and other 2							(.3)		3.0
	$	1,294.4	$	13.1	$	1,307.5	$	113.2	$	44.1
Three Months Ended September 30, 2021
Bedding Products	$	664.1	$	11.4	$	675.5	$	81.1	$	27.3
Specialized Products	235.6		1.0		236.6		22.4		11.7
Furniture, Flooring & Textile Products	419.5		3.2		422.7		41.1		6.0
Intersegment eliminations and other 2							(.4)		1.6
	$	1,319.2	$	15.6	$	1,334.8	$	144.2	$	46.6


	Trade 1 Sales		Inter- Segment Sales		Total Sales		EBIT		Depreciation and Amortization
Nine Months Ended September 30, 2022
Bedding Products	$	1,833.9	$	32.2	$	1,866.1	$	189.2	$	78.1
Specialized Products	815.5		1.8		817.3		73.0		30.4
Furniture, Flooring & Textile Products	1,301.5		11.9		1,313.4		132.3		17.5
Intersegment eliminations and other 2							(.7)		8.3
	$	3,950.9	$	45.9	$	3,996.8	$	393.8	$	134.3
Nine Months Ended September 30, 2021
Bedding Products 3	$	1,808.6	$	32.4	$	1,841.0	$	245.3	$	79.8
Specialized Products	734.9		2.6		737.5		85.0		35.0
Furniture, Flooring & Textile Products	1,196.2		10.1		1,206.3		114.1		18.1
Intersegment eliminations and other 2							(.6)		7.9
	$	3,739.7	$	45.1	$	3,784.8	$	443.8	$	140.8

1 See Note 3 for revenue by product family.

2 Depreciation and Amortization: Other relates to non-operating assets (assets not included in segment assets) and is allocated to segment EBIT as discussed above.

3 2021 EBIT: Includes $28.2 gain on the sale of real estate associated with our exited Fashion Bed business.

Summary of Average Assets for Segments


	September 30, 2022		December 31, 2021
Bedding Products	$	946.7	$	836.0
Specialized Products	337.1		316.7
Furniture, Flooring & Textile Products	425.6		373.5

Average current liabilities included in segment numbers above	806.7		814.1
Unallocated assets 1	2,648.0		2,828.5
Difference between average assets and period-end balance sheet	11.1		138.5
Total assets	$	5,175.2	$	5,307.3

1 Unallocated assets consist primarily of goodwill, other intangibles, cash and deferred tax assets.

GOODWILL IMPAIRMENT TESTING (Tables)

9 Months Ended

Sep. 30, 2022

Restructuring and Related Activities [Abstract]

Schedule of Goodwill


2022
Fair Value over Carrying Value divided by Carrying Value	September 30, 2022 Goodwill Value		10-year Compound Annual Growth Rate Range for Sales	Terminal Values Long-term Growth Rate for Debt-Free Cash Flow		Discount Rate Ranges
Less than 50% 1	$	100.5	3.7% - 8.5%	3.0	%	11.8%
50% - 100% 2	989.5		2.6 - 4.8	3.0		10.3
101% - 300%	243.6		1.4 - 2.6	3.0		9.8 - 10.3
Greater than 300%	116.0		8.2	3.0		11.8
	$	1,449.6	1.4% - 8.5%	3.0	%	9.8% - 11.8%


2021
Fair Value over Carrying Value divided by Carrying Value	December 31, 2021 Goodwill Value		10-year Compound Annual Growth Rate Range for Sales	Terminal Values Long-term Growth Rate for Debt-Free Cash Flow		Discount Rate Ranges
Less than 50% 1	$	67.5	7.8%	3.0	%	10.0%
50% - 100% 2	101.0		5.5	3.0		9.0
101% - 300%	1,086.9		3.1 - 3.3	3.0		8.0 - 8.5
Greater than 300%	194.2		2.9 - 10.4	3.0		9.0
	$	1,449.6	2.9% - 10.4%	3.0	%	8.0% - 10.0%

1 This category includes two reporting units (Aerospace and Hydraulic Cylinders) for 2022 and the Aerospace unit for 2021.

2 This category includes two reporting units (Work Furniture and Bedding) for 2022 and the Work Furniture unit for 2021.

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

EARNINGS PER SHARE (EPS) (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Summary of Calculation of Basic and Diluted Earnings Per Share

Basic and diluted earnings per share were calculated as follows:


	Nine Months Ended September 30,				Three Months Ended September 30,
	2022		2021		2022		2021
Net earnings
Net earnings	$	257.1	$	297.0	$	71.5	$	97.2
(Earnings) attributable to noncontrolling interest, net of tax	(.1)		(.1)		(.1)		—


Net earnings attributable to Leggett & Platt, Inc. common shareholders	$	257.0	$	296.9	$	71.4	$	97.2

Weighted average number of shares (in millions):
Weighted average number of common shares used in basic EPS	136.2		136.2		135.7		136.4
Dilutive effect of stock-based compensation	.4		.5		.4		.5
Weighted average number of common shares and dilutive potential common shares used in diluted EPS	136.6		136.7		136.1		136.9

Basic and diluted EPS:



Basic EPS attributable to Leggett & Platt common shareholders	$	1.89	$	2.18	$	.53	$	.71




Diluted EPS attributable to Leggett & Platt common shareholders	$	1.88	$	2.17	$	.52	$	.71

Other information:
Anti-dilutive shares excluded from diluted EPS computation	.4		.1		.4		.2

Cash dividends declared per share	$	1.30	$	1.24	$	.44	$	.42

ACCOUNTS AND OTHER RECEIVABLES (Tables)

9 Months Ended

Sep. 30, 2022

Receivables [Abstract]

Summary of Components of Accounts and Other Receivables

Accounts and other receivables consisted of the following:


	September 30, 2022						December 31, 2021
	Current		Long-term		Total		Current		Long-term		Total
Trade accounts receivable 1	$	692.5	$	—	$	692.5	$	634.2	$	—	$	634.2
Trade notes receivable	.4		.1		.5		.7		.2		.9
Total trade receivables	692.9		.1		693.0		634.9		.2		635.1


Other notes receivable 1	—		22.5		22.5		.7		22.5		23.2

Taxes receivable, including income taxes	2.1		—		2.1		4.3		—		4.3
Value-added taxes recoverable 2	41.8		—		41.8		14.5		—		14.5
Other receivables	10.6		—		10.6		12.0		—		12.0
Subtotal other receivables	54.5		22.5		77.0		31.5		22.5		54.0
Total trade and other receivables	747.4		22.6		770.0		666.4		22.7		689.1
Allowance for doubtful accounts:
Trade accounts receivable 1	(17.0)		—		(17.0)		(14.9)		—		(14.9)
Trade notes receivable	(.1)		—		(.1)		—		(.1)		(.1)
Total trade receivables	(17.1)		—		(17.1)		(14.9)		(.1)		(15.0)
Other notes receivable 1	—		(21.4)		(21.4)		—		(22.0)		(22.0)
Total allowance for doubtful accounts	(17.1)		(21.4)		(38.5)		(14.9)		(22.1)		(37.0)
Total net receivables	$	730.3	$	1.2	$	731.5	$	651.5	$	.6	$	652.1

2 Our value-added taxes recoverable have increased $27.3 since December 31, 2021, primarily as a result of refund delays from the Mexican government.

Summary of Allowance for Doubtful Accounts

Activity related to the allowance for doubtful accounts is reflected below:


	Balance at December 31, 2021		Add: Charges		Less: Net Charge-offs/ (Recoveries) and Other		Balance at September 30, 2022
Trade accounts receivable	$	14.9	$	2.7	$	.6	$	17.0
Trade notes receivable	.1		—		—		.1
Total trade receivables	15.0		2.7		.6		17.1
Other notes receivable	22.0		(.6)		—		21.4
Total allowance for doubtful accounts	$	37.0	$	2.1	$	.6	$	38.5

STOCK-BASED COMPENSATION (Tables)

9 Months Ended

Sep. 30, 2022

Share-Based Payment Arrangement [Abstract]

Summary of Components of Stock-Based and Stock-Related Compensation

The following table recaps the impact of stock-based compensation on the results of operations for each of the periods presented:


	Nine Months Ended September 30, 2022				Nine Months Ended September 30, 2021
	To be settled with stock		To be settled in cash		To be settled with stock		To be settled in cash


Executive Stock Unit (ESU) program contributions	$	2.6	$	.6	$	3.4	$	.6
Discounts on various stock awards:
Deferred Stock Compensation Program	1.2		—		1.4		—
ESU program	1.0		—		1.1		—
Discount Stock Plan	.6		—		.7		—
Performance Stock Unit (PSU) awards: 1
PSU - TSR based 1A	1.9		.5		2.3		.6
PSU - EBIT CAGR based 1B	(.4)		(.9)		4.7		5.0

Restricted Stock Unit (RSU) awards	8.5		—		7.2		—

Other, primarily non-employee directors restricted stock	1.4		—		.3		—
Total stock-related compensation expense	16.8		$	.2	21.1		$	6.2
Employee contributions for above stock plans	8.2				7.3
Total stock-based compensation	$	25.0			$	28.4

Tax benefits on stock-based compensation expense	$	4.1			$	5.1
Tax benefits on stock-based compensation payments	.6				3.4
Total tax benefits associated with stock-based compensation	$	4.7			$	8.5


	Three Months Ended				Three Months Ended
	September 30, 2022				September 30, 2021
	To be settled with stock		To be settled in cash		To be settled with stock		To be settled in cash
Executive Stock Unit (ESU) program contributions	$	.4	$	.2	$	1.0	$	.3
Discounts on various stock awards:
Deferred Stock Compensation Program	.4		—		.6		—
ESU program	.3		—		.5		—
Discount Stock Plan	.2		—		.2		—
Performance Stock Unit (PSU) awards: 1
PSU - TSR based 1A	.6		.2		.8		(.6)
PSU - EBIT CAGR based 1B	(1.6)		(1.4)		1.5		.5

Restricted Stock Unit (RSU) awards	.9		—		.8		—

Other, primarily non-employee directors restricted stock	.4		—		.1		—
Total stock-related compensation expense (income)	1.6		$	(1.0)	5.5		$	.2
Employee contributions for above stock plans	2.7				2.6
Total stock-based compensation	$	4.3			$	8.1

Tax benefits on stock-based compensation expense	$	.4			$	1.3
Tax benefits on stock-based compensation payments	—				.2
Total tax benefits associated with stock-based compensation	$	.4			$	1.5

1 PSU Awards

1A PSU - TSR based

The relative TSR component of the PSU awards contain the following conditions:

•A service requirement—Awards generally “cliff” vest three years following the grant date; and

1B PSU - EBIT CAGR based

The EBIT CAGR component of the PSU awards contain the following conditions:

•A service requirement—Awards generally “cliff” vest three years following the grant date; and

Below is a summary of shares and grant date fair value related to PSU awards for the periods presented:


	Nine Months Ended September 30,
	2022			2021
TSR based
Total shares base award	.1			.1
Grant date per share fair value	$	41.13		$	49.43
Risk-free interest rate	.2		%	.2		%
Vesting period in years	3.0			3.0
Expected volatility (over expected life)	45.2		%	44.3		%
Expected dividend yield (over expected life)	4.6		%	3.7		%

EBIT CAGR based
Total shares base award	.1			.1
Grant date per share fair value	$	32.88		$	38.77
Vesting period in years	3.0			3.0

Three-Year Performance Cycle for PSU - TSR Based

Award Year

Completion Date

Payout as a
Percent of the
Base Award

Number of Shares
Distributed

Cash Portion

Distribution Date

TSR Performance
Relative to the Peer Group (1%=Best)

2018

December 31, 2020

56.0%

<.1 million

2.0

First quarter 2021

th percentile

2019

December 31, 2021

—%

— million

—

First quarter 2022

th percentile

Three-Year Performance Cycle for PSU - EBIT CAGR Based

Award Year

Completion Date

Payout as a
Percent of the
Base Award

Number of Shares
Distributed

Cash Portion

Distribution Date

2018

December 31, 2020

16.0%

< .1 million

First quarter 2021

2019

December 31, 2021

127.0%

< .1 million

3.5

First quarter 2022

Summary of Shares and Related Grant Date Fair Value

Below is a summary of shares and grant date fair value related to PSU awards for the periods presented:


	Nine Months Ended September 30,
	2022			2021
TSR based
Total shares base award	.1			.1
Grant date per share fair value	$	41.13		$	49.43
Risk-free interest rate	.2		%	.2		%
Vesting period in years	3.0			3.0
Expected volatility (over expected life)	45.2		%	44.3		%
Expected dividend yield (over expected life)	4.6		%	3.7		%

EBIT CAGR based
Total shares base award	.1			.1
Grant date per share fair value	$	32.88		$	38.77
Vesting period in years	3.0			3.0

Summary of Performance Cycle

Three-Year Performance Cycle for PSU - TSR Based

Award Year

Completion Date

Payout as a
Percent of the
Base Award

Number of Shares
Distributed

Cash Portion

Distribution Date

TSR Performance
Relative to the Peer Group (1%=Best)

2018

December 31, 2020

56.0%

<.1 million

2.0

First quarter 2021

th percentile

2019

December 31, 2021

—%

— million

—

First quarter 2022

th percentile

Three-Year Performance Cycle for PSU - EBIT CAGR Based

Award Year

Completion Date

Payout as a
Percent of the
Base Award

Number of Shares
Distributed

Cash Portion

Distribution Date

2018

December 31, 2020

16.0%

< .1 million

First quarter 2021

2019

December 31, 2021

127.0%

< .1 million

3.5

First quarter 2022

ACQUISITIONS (Tables)

9 Months Ended

Sep. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Summary of Estimated Fair Values of the Assets Acquired and Liabilities Assumed

The following table contains the estimated fair values of the assets acquired and liabilities assumed at the date of acquisition for all acquisitions during the periods presented (using inputs as discussed in Note 13). A portion of the goodwill included in the table below is expected to provide an income tax benefit.


	Nine Months Ended September 30,
	2022		2021
Accounts receivable	$	30.4	$	20.7
Inventory	36.5		17.4
Property, plant and equipment	5.8		15.3
Goodwill	35.9		76.9
Other intangible assets:
Customer relationships (15-year life)	39.5		45.5
Technology (8 to 15-year life)	5.0		18.6
Trademarks and trade names (15 to 20-year life)	1.2		6.6
Non-compete agreements and other (1 to 10-year life)	1.2		2.7
Other current and long-term assets	5.8		5.5
Current liabilities	(51.9)		(40.8)
Deferred income taxes	(16.7)		(10.9)
Other long-term liabilities	(2.6)		(4.7)

Fair value of net identifiable assets	90.1		152.8
Less: Additional contingent consideration payable	27.6		.5




Net cash consideration	$	62.5	$	152.3

Summary of Acquisitions

The following table summarizes acquisitions for the periods presented.

Nine Months Ended

Number of Acquisitions

Segment

Product/Service

September 30, 2022

Furniture, Flooring & Textile Products

Converter and distributor of construction fabrics for the furniture and bedding industries;

Specialized Products

Manufacturer of hydraulic cylinders for heavy construction machinery;

September 30, 2021

Bedding Products

Manufacturer of specialty foam for the bedding and furniture industries;

Furniture, Flooring & Textile Products

Manufacturer of bent metal tubing for furniture used in office, residential, and other settings;

Specialized Products

Manufacturer of high-pressure and high-temperature ducting, flexible joints and components

INVENTORIES (Tables)

9 Months Ended

Sep. 30, 2022

Inventory Disclosure [Abstract]

Summary of LIFO Expense

The following table recaps the components of inventory for each period presented:


	September 30, 2022		December 31, 2021
Finished goods	$	415.8	$	429.1
Work in process	75.3		66.9
Raw materials and supplies	484.9		497.2

Inventories	$	976.0	$	993.2

EMPLOYEE BENEFIT PLANS (Tables)

9 Months Ended

Sep. 30, 2022

Retirement Benefits [Abstract]

Summary of Components of Net Pension Expense

The following table provides interim information as to our defined benefit pension plans:


	Nine Months Ended September 30,				Three Months Ended September 30,
	2022		2021		2022		2021
Components of net pension expense
Service cost	$	3.9	$	3.8	$	1.2	$	1.3
Interest cost	5.0		4.5		1.7		1.5
Expected return on plan assets	(9.9)		(9.5)		(3.3)		(3.2)
Recognized net actuarial loss	2.0		3.9		.6		1.3
Net pension expense	$	1.0	$	2.7	$	.2	$	.9

STATEMENT OF CHANGES IN EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

9 Months Ended

Sep. 30, 2022

Equity [Abstract]

Summary of Statement of Changes in Equity and Accumulated Other Comprehensive Income (Loss)


	Three Months Ended September 30, 2022
	Total Equity		Retained Earnings		Common Stock & Additional Contributed Capital		Treasury Stock		Noncontrolling Interest		Accumulated Other Comprehensive Income (Loss)
Beginning balance, July 1, 2022	$	1,614.6	$	3,041.3	$	563.3	$	(1,881.4)	$	.6	$	(109.2)


Net earnings	71.5		71.4		—		—		.1		—

Dividends declared (See Note 6)	(58.4)		(59.7)		1.3		—		—		—

Treasury stock purchased	(3.5)		—		—		(3.5)		—		—
Treasury stock issued	1.4		—		—		1.4		—		—
Foreign currency translation adjustments	(61.7)		—		—		—		(.1)		(61.6)
Cash flow hedges, net of tax	(4.2)		—		—		—		—		(4.2)
Defined benefit pension plans, net of tax	.9		—		—		—		—		.9
Stock-based compensation transactions, net of tax	2.2		—		2.2		—		—		—

Ending balance, September 30, 2022	$	1,562.8	$	3,053.0	$	566.8	$	(1,883.5)	$	.6	$	(174.1)


	Three Months Ended September 30, 2021
	Total Equity		Retained Earnings		Common Stock & Additional Contributed Capital		Treasury Stock		Noncontrolling Interest		Accumulated Other Comprehensive Income (Loss)
Beginning balance, July 1, 2021	$	1,536.0	$	2,885.0	$	548.6	$	(1,850.1)	$	1.8	$	(49.3)


Net earnings	97.2		97.2		—		—		—		—
Dividends declared (See Note 6)	(56.1)		(57.4)		1.3		—		—		—

Treasury stock purchased	(.3)		—		—		(.3)		—		—
Treasury stock issued	1.9		—		(.5)		2.4		—		—
Foreign currency translation adjustments	(15.7)		—		—		—		—		(15.7)
Cash flow hedges, net of tax	8.3		—		—		—		—		8.3
Defined benefit pension plans, net of tax	1.0		—		—		—		—		1.0
Stock-based compensation transactions, net of tax	5.3		—		5.3		—		—		—

Ending balance, September 30, 2021	$	1,577.6	$	2,924.8	$	554.7	$	(1,848.0)	$	1.8	$	(55.7)


	Nine Months Ended September 30, 2022
	Total Equity		Retained Earnings		Common Stock & Additional Contributed Capital		Treasury Stock		Noncontrolling Interest		Accumulated Other Comprehensive Income (Loss)
Beginning balance, January 1, 2022	$	1,648.6	$	2,973.0	$	559.9	$	(1,846.6)	$	.6	$	(38.3)


Net earnings	257.1		257.0		—		—		.1		—

Dividends declared (See Note 6)	(173.1)		(177.0)		3.9		—		—		—

Treasury stock purchased	(60.3)		—		—		(60.3)		—		—
Treasury stock issued	8.3		—		(15.1)		23.4		—		—
Foreign currency translation adjustments	(131.5)		—		—		—		(.1)		(131.4)
Cash flow hedges, net of tax	(6.0)		—		—		—		—		(6.0)
Defined benefit pension plans, net of tax	1.6		—		—		—		—		1.6
Stock-based compensation transactions, net of tax	18.1		—		18.1		—		—		—

Ending balance, September 30, 2022	$	1,562.8	$	3,053.0	$	566.8	$	(1,883.5)	$	.6	$	(174.1)


	Nine Months Ended September 30, 2021
	Total Equity		Retained Earnings		Common Stock & Additional Contributed Capital		Treasury Stock		Noncontrolling Interest		Accumulated Other Comprehensive Income (Loss)
Beginning balance, January 1, 2021	$	1,425.1	$	2,797.2	$	545.2	$	(1,865.4)	$	.5	$	(52.4)


Net earnings	297.0		296.9		—		—		.1		—

Dividends declared (See Note 6)	(165.4)		(169.3)		3.9		—		—		—

Treasury stock purchased	(12.1)		—		—		(12.1)		—		—
Treasury stock issued	9.3		—		(20.2)		29.5		—		—
Foreign currency translation adjustments	(16.5)		—		—		—		—		(16.5)
Cash flow hedges, net of tax	10.5		—		—		—		—		10.5
Defined benefit pension plans, net of tax	2.7		—		—		—		—		2.7
Stock-based compensation transactions, net of tax	25.5		—		25.5		—		—		—
Purchase of remaining interest in noncontrolling interest, net of acquisitions	1.5		—		.3		—		1.2		—
Ending balance, September 30, 2021	$	1,577.6	$	2,924.8	$	554.7	$	(1,848.0)	$	1.8	$	(55.7)

Summary of Changes in Each Component of Accumulated Other Comprehensive Income (Loss)

The following tables set forth the components of and changes in each component of accumulated other comprehensive income (loss) for each of the periods presented:


			Three Months Ended September 30,
			Foreign Currency Translation Adjustments		Cash Flow Hedges		Defined Benefit Pension Plans		Accumulated Other Comprehensive Income (Loss)
Balance, July 1, 2022			$	(81.5)	$	10.1	$	(37.8)	$	(109.2)
Other comprehensive income (loss)			(61.7)		(5.1)		.6		(66.2)
Reclassifications, pretax 1			—		(.1)		.6		.5
Income tax effect			—		1.0		(.3)		.7
Attributable to noncontrolling interest			.1		—		—		.1
Balance, September 30, 2022			$	(143.1)	$	5.9	$	(36.9)	$	(174.1)

Balance, July 1, 2021			$	5.6	$	3.6	$	(58.5)	$	(49.3)
Other comprehensive income (loss)			(15.7)		11.6		—		(4.1)
Reclassifications, pretax 2			—		(.3)		1.3		1.0
Income tax effect			—		(3.0)		(.3)		(3.3)

Balance, September 30, 2021			$	(10.1)	$	11.9	$	(57.5)	$	(55.7)

	1	2022 pretax reclassifications are comprised of:
		Net trade sales	$	—	$	(.6)	$	—	$	(.6)
		Cost of goods sold; selling and administrative expenses	—		(.1)		—		(.1)
		Interest expense	—		.6		—		.6
		Other income (expense), net	—		—		.6		.6

		Total reclassifications, pretax	$	—	$	(.1)	$	.6	$	.5

	2	2021 pretax reclassifications are comprised of:
		Net trade sales	$	—	$	(1.5)	$	—	$	(1.5)
		Cost of goods sold; selling and administrative expenses	—		.1		—		.1
		Interest expense	—		1.1		—		1.1
		Other income (expense), net	—		—		1.3		1.3
		Total reclassifications, pretax	$	—	$	(.3)	$	1.3	$	1.0


			Nine Months Ended September 30,
			Foreign Currency Translation Adjustments		Cash Flow Hedges		Defined Benefit Pension Plans		Accumulated Other Comprehensive Income (Loss)
Balance, January 1, 2022			$	(11.7)	$	11.9	$	(38.5)	$	(38.3)
Other comprehensive income (loss)			(131.5)		(5.6)		(.4)		(137.5)
Reclassifications, pretax 1			—		(1.7)		2.0		.3
Income tax effect			—		1.3		—		1.3
Attributable to noncontrolling interest			.1		—		—		.1
Balance, September 30, 2022			$	(143.1)	$	5.9	$	(36.9)	$	(174.1)

Balance, January 1, 2021			$	6.4	$	1.4	$	(60.2)	$	(52.4)
Other comprehensive income (loss)			(16.5)		15.1		(.3)		(1.7)
Reclassifications, pretax 2			—		(1.0)		3.9		2.9
Income tax effect			—		(3.6)		(.9)		(4.5)

Balance, September 30, 2021			$	(10.1)	$	11.9	$	(57.5)	$	(55.7)

	1	2022 pretax reclassifications are comprised of:
		Net trade sales	$	—	$	(3.4)	$	—	$	(3.4)
		Cost of goods sold; selling and administrative expenses	—		(.7)		—		(.7)
		Interest expense	—		2.4		—		2.4
		Other income (expense), net	—		—		2.0		2.0

		Total reclassifications, pretax	$	—	$	(1.7)	$	2.0	$	.3

	2	2021 pretax reclassifications are comprised of:
		Net trade sales	$	—	$	(4.9)	$	—	$	(4.9)
		Cost of goods sold; selling and administrative expenses	—		.5		—		.5
		Interest expense	—		3.4		—		3.4
		Other income (expense), net	—		—		3.9		3.9
		Total reclassifications, pretax	$	—	$	(1.0)	$	3.9	$	2.9

FAIR VALUE (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Summary of Components of Fair Value Measurements of Financial Assets and Liabilities

The areas in which we utilize fair value measures of financial assets and liabilities are presented in the table below.


	As of September 30, 2022
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Bank time deposits with original maturities of three months or less	$	—	$	90.9	$	—	$	90.9
Derivative assets 1 (Note 14)	—		5.1		—		5.1
Diversified investments associated with the ESU program 1	39.8		—		—		39.8
Total assets	$	39.8	$	96.0	$	—	$	135.8
Liabilities:
Derivative liabilities 1 (Note 14)	$	—	$	12.6	$	—	$	12.6
Liabilities associated with the ESU program 1	40.4		—		—		40.4
Total liabilities	$	40.4	$	12.6	$	—	$	53.0


	As of December 31, 2021
	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Bank time deposits with original maturities of three months or less	$	—	$	114.4	$	—	$	114.4
Derivative assets 1 (Note 14)	—		5.9		—		5.9
Diversified investments associated with the ESU program 1	51.0		—		—		51.0
Total assets	$	51.0	$	120.3	$	—	$	171.3
Liabilities:
Derivative liabilities 1 (Note 14)	$	—	$	1.2	$	—	$	1.2
Liabilities associated with the ESU program 1	50.9		—		—		50.9
Total liabilities	$	50.9	$	1.2	$	—	$	52.1

1 Includes both current and long-term amounts.

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Derivative Financial Instruments at Fair Value


	Expiring at various dates through:	Total USD Equivalent Notional Amount	As of September 30, 2022
Derivatives			Assets				Liabilities
			Other Current Assets		Sundry		Other Current Liabilities		Other Long-Term Liabilities
Designated as hedging instruments

Total cash flow hedges-currency hedges	Mar 2024	253.2	$	4.6	$	.1	$	9.4	$	.7
Total fair value hedges	Jan 2023	56.6	—		—		1.5		—
Not designated as hedging instruments	Sep 2023	94.8	.4		—		1.0		—
Total derivatives			$	5.0	$	.1	$	11.9	$	.7


	Expiring at various dates through:	Total USD Equivalent Notional Amount	As of December 31, 2021
Derivatives			Assets				Liabilities
			Other Current Assets		Sundry		Other Current Liabilities		Other Long-Term Liabilities
Designated as hedging instruments
Total cash flow hedges-currency hedges	Jun 2023	260.6	$	5.1	$	—	$	.7	$	.1
Total fair value hedges	Mar 2022	54.2	.4		—		—		—
Not designated as hedging instruments	Dec 2022	40.1	.4		—		.4		—
Total derivatives			$	5.9	$	—	$	1.1	$	.1

Summary of Pre-Tax (Gains) Losses of Hedging Activities


Derivatives	Income Statement Caption	Amount of (Gain) Loss Recorded in Income Nine Months Ended September 30,				Amount of (Gain) Loss Recorded in Income Three Months Ended September 30,
		2022		2021		2022		2021
Designated as hedging instruments

Interest rate cash flow hedges	Interest expense	$	2.4	$	3.4	$	.6	$	1.1
Currency cash flow hedges	Net trade sales	(1.7)		(7.4)		.6		(2.5)
Currency cash flow hedges	Cost of goods sold	(1.9)		.1		(.8)		(.2)

Total cash flow hedges		(1.2)		(3.9)		.4		(1.6)
Fair value hedges	Other expense (income), net	4.9		(5.5)		3.9		(1.5)

Not designated as hedging instruments	Other expense (income), net	(2.2)		(1.4)		(2.3)		(1.2)

Total derivative instruments		$	1.5	$	(10.8)	$	2.0	$	(4.3)

OTHER EXPENSE (INCOME), NET (Tables)

9 Months Ended

Sep. 30, 2022

Other Income and Expenses [Abstract]

Other expense (income), net

The components of other expense (income), net were as follows:


	Nine Months Ended September 30,				Three Months Ended September 30,
	2022		2021		2022		2021


Restructuring charges (income)	$	1.4	$	(.3)	$	1.4	$	—

Currency (income) loss	(2.7)		.9		(2.0)		(.5)

Loss (gain) from diversified investments associated with Executive Stock Unit Program (See Note 8)	11.2		(3.9)		2.3		.4
Insurance proceeds 1	—		(6.6)		—		(6.6)
COVID-19 government subsidies 2	—		(2.8)		—		(1.3)
Other income	(3.4)		(2.8)		(1.1)		(.6)
	$	6.5	$	(15.5)	$	.6	$	(8.6)

2 This represents government subsidies in our international locations, which do not contain material restrictions on our operations, sources of funding or otherwise.

INTERIM PRESENTATION (Details) - USD ($) $ in Millions	9 Months Ended
INTERIM PRESENTATION (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts receivable trade percentage of face value interest sold	100.00%
Disposal group, including discontinued operation, accounts, notes and loans receivable, net	$ 45.0	$ 35.0
Accounts payable third party programs	$ 80.0	$ 130.0

REVENUE (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
REVENUE (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Net trade sales	$ 1,294.4	$ 1,319.2	$ 3,950.9	$ 3,739.7
Bedding Products \| Bedding Group
Disaggregation of Revenue [Line Items]
Net trade sales	582.0	664.1	1,833.9	1,808.6
Specialized Products
Disaggregation of Revenue [Line Items]
Net trade sales	291.3	235.6	815.5	734.9
Specialized Products \| Automotive Group
Disaggregation of Revenue [Line Items]
Net trade sales	222.2	187.6	631.2	591.0
Specialized Products \| Aerospace Products Group
Disaggregation of Revenue [Line Items]
Net trade sales	29.1	25.0	88.9	74.9
Specialized Products \| Hydraulic Cylinders Group
Disaggregation of Revenue [Line Items]
Net trade sales	40.0	23.0	95.4	69.0
Furniture, Flooring & Textile Products
Disaggregation of Revenue [Line Items]
Net trade sales	421.1	419.5	1,301.5	1,196.2
Furniture, Flooring & Textile Products \| Home Furniture Group
Disaggregation of Revenue [Line Items]
Net trade sales	91.8	110.6	316.8	309.5
Furniture, Flooring & Textile Products \| Work Furniture Group
Disaggregation of Revenue [Line Items]
Net trade sales	77.2	72.7	247.7	205.3
Furniture, Flooring & Textile Products \| Flooring & Textile Products Group
Disaggregation of Revenue [Line Items]
Net trade sales	$ 252.1	$ 236.2	$ 737.0	$ 681.4

SEGMENT INFORMATION - Summary of Segment Results from Continuing Operations (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) segment	Sep. 30, 2021 USD ($)
Segment Reporting Information [Line Items]
Number of operating segments \| segment			3
Net trade sales	$ 1,294.4	$ 1,319.2	$ 3,950.9	$ 3,739.7
Total Sales	1,307.5	1,334.8	3,996.8	3,784.8
EBIT	113.2	144.2	393.8	443.8
Depreciation and Amortization	44.1	46.6	134.3	140.8
Bedding Products
Segment Reporting Information [Line Items]
Total Sales	590.8	675.5	1,866.1	1,841.0
EBIT	43.9	81.1	189.2	245.3
Depreciation and Amortization	25.7	27.3	78.1	79.8
Specialized Products
Segment Reporting Information [Line Items]
Net trade sales	291.3	235.6	815.5	734.9
Total Sales	291.8	236.6	817.3	737.5
EBIT	31.3	22.4	73.0	85.0
Depreciation and Amortization	9.7	11.7	30.4	35.0
Furniture, Flooring & Textile Products
Segment Reporting Information [Line Items]
Net trade sales	421.1	419.5	1,301.5	1,196.2
Total Sales	424.9	422.7	1,313.4	1,206.3
EBIT	38.3	41.1	132.3	114.1
Depreciation and Amortization	5.7	6.0	17.5	18.1
Fashion Bed Business
Segment Reporting Information [Line Items]
Gain on sale of real estate				28.2
Operating segments
Segment Reporting Information [Line Items]
Net trade sales	1,294.4	1,319.2	3,950.9	3,739.7
Operating segments \| Bedding Products
Segment Reporting Information [Line Items]
Net trade sales	582.0	664.1	1,833.9	1,808.6
Operating segments \| Specialized Products
Segment Reporting Information [Line Items]
Net trade sales	291.3	235.6	815.5	734.9
Operating segments \| Furniture, Flooring & Textile Products
Segment Reporting Information [Line Items]
Net trade sales	421.1	419.5	1,301.5	1,196.2
Intersegment eliminations
Segment Reporting Information [Line Items]
Net trade sales	13.1	15.6	45.9	45.1
EBIT	(0.3)	(0.4)	(0.7)	(0.6)
Depreciation and Amortization	3.0	1.6	8.3	7.9
Intersegment eliminations \| Bedding Products
Segment Reporting Information [Line Items]
Net trade sales	8.8	11.4	32.2	32.4
Intersegment eliminations \| Specialized Products
Segment Reporting Information [Line Items]
Net trade sales	0.5	1.0	1.8	2.6
Intersegment eliminations \| Furniture, Flooring & Textile Products
Segment Reporting Information [Line Items]
Net trade sales	$ 3.8	$ 3.2	$ 11.9	$ 10.1

SEGMENT INFORMATION - Average Assets for Segments (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total assets	$ 5,175.2	$ 5,307.3
Operating segments \| Bedding Products
Segment Reporting Information [Line Items]
Total assets	946.7	836.0
Operating segments \| Specialized Products
Segment Reporting Information [Line Items]
Total assets	337.1	316.7
Operating segments \| Furniture, Flooring & Textile Products
Segment Reporting Information [Line Items]
Total assets	425.6	373.5
Operating segments \| Average current liabilities included in segment numbers above
Segment Reporting Information [Line Items]
Total assets	806.7	814.1
Unallocated assets
Segment Reporting Information [Line Items]
Total assets	2,648.0	2,828.5
Difference between average assets and period-end balance sheet
Segment Reporting Information [Line Items]
Total assets	$ 11.1	$ 138.5

- Definition

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 210
-Section S99
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-Name Accounting Standards Codification
-Topic 852
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-Section 55
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-URI https://asc.fasb.org/extlink&oid=84165509&loc=d3e56426-112766

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (SX 210.13-01(a)(4)(iv))
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(12))
-URI https://asc.fasb.org/extlink&oid=126734703&loc=d3e572229-122910

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-Subparagraph (a)
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
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-Subparagraph (SX 210.13-02(a)(4)(i))
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Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
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-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
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-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(4)(ii))
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
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-Paragraph 1A
-Subparagraph (SX 210.13-01(a)(5))
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 1A
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
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-Paragraph 1A
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

GOODWILL IMPAIRMENT TESTING (Details) $ in Millions	9 Months Ended
GOODWILL IMPAIRMENT TESTING (Details) $ in Millions	Sep. 30, 2022 USD ($) reporting_unit	Dec. 31, 2021 USD ($)
Goodwill [Line Items]
Goodwill value	$ 1,449.6	$ 1,449.6
Terminal Values Long-term Growth Rate for Debt-Free Cash Flow	3.00%	3.00%
Aerospace And Hydraulic Cylinders
Goodwill [Line Items]
Number of reporting units \| reporting_unit	2
Aerospace Products Group
Goodwill [Line Items]
Goodwill value	$ 65.5	$ 67.5
Percentage of fair value in excess of carrying amount	40.00%	28.00%
Hydraulic Cylinders Group
Goodwill [Line Items]
Goodwill value	$ 35.0
Percentage of fair value in excess of carrying amount	32.00%	86.00%
Work Furniture And Bedding
Goodwill [Line Items]
Number of reporting units \| reporting_unit	2
Work Furniture Group
Goodwill [Line Items]
Goodwill value	$ 96.9	$ 101.0
Percentage of fair value in excess of carrying amount	78.00%	85.00%
Bedding Group
Goodwill [Line Items]
Goodwill value	$ 892.6	$ 908.3
Percentage of fair value in excess of carrying amount	54.00%	171.00%
Less than 50%
Goodwill [Line Items]
Goodwill value	$ 100.5	$ 67.5
10-year Compound Annual Growth Rate Range for Sales		7.80%
Terminal Values Long-term Growth Rate for Debt-Free Cash Flow	3.00%	3.00%
Discount Rate Ranges	11.80%	10.00%
50%-100%
Goodwill [Line Items]
Goodwill value	$ 989.5	$ 101.0
Terminal Values Long-term Growth Rate for Debt-Free Cash Flow	3.00%	3.00%
Discount Rate Ranges	10.30%
101% - 300%
Goodwill [Line Items]
Goodwill value	$ 243.6	$ 1,086.9
Terminal Values Long-term Growth Rate for Debt-Free Cash Flow	3.00%	3.00%
Greater than 300%
Goodwill [Line Items]
Goodwill value	$ 116.0	$ 194.2
Terminal Values Long-term Growth Rate for Debt-Free Cash Flow	3.00%	3.00%
Discount Rate Ranges	11.80%	9.00%
Minimum
Goodwill [Line Items]
10-year Compound Annual Growth Rate Range for Sales	1.40%	2.90%
Discount Rate Ranges	9.80%	8.00%
Minimum \| Less than 50%
Goodwill [Line Items]
10-year Compound Annual Growth Rate Range for Sales	3.70%
Minimum \| 50%-100%
Goodwill [Line Items]
10-year Compound Annual Growth Rate Range for Sales	2.60%
Discount Rate Ranges
Minimum \| 101% - 300%
Goodwill [Line Items]
10-year Compound Annual Growth Rate Range for Sales	1.40%	3.10%
Discount Rate Ranges	9.80%	8.00%
Minimum \| Greater than 300%
Goodwill [Line Items]
10-year Compound Annual Growth Rate Range for Sales		2.90%
Maximum
Goodwill [Line Items]
10-year Compound Annual Growth Rate Range for Sales	8.50%	10.40%
Discount Rate Ranges	11.80%	10.00%
Maximum \| Less than 50%
Goodwill [Line Items]
10-year Compound Annual Growth Rate Range for Sales	8.50%
Maximum \| 50%-100%
Goodwill [Line Items]
10-year Compound Annual Growth Rate Range for Sales	4.80%	5.50%
Discount Rate Ranges		9.00%
Maximum \| 101% - 300%
Goodwill [Line Items]
10-year Compound Annual Growth Rate Range for Sales	2.60%	3.30%
Discount Rate Ranges	10.30%	8.50%
Maximum \| Greater than 300%
Goodwill [Line Items]
10-year Compound Annual Growth Rate Range for Sales	8.20%	10.40%

EARNINGS PER SHARE (EPS) - Calculation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Net earnings
Net earnings	$ 71.5	$ 97.2	$ 257.1	$ 297.0
(Earnings) attributable to noncontrolling interest, net of tax	(0.1)	0.0	(0.1)	(0.1)
Net earnings attributable to Leggett & Platt, Inc. common shareholders	$ 71.4	$ 97.2	$ 257.0	$ 296.9
Weighted average number of shares (in millions):
Weighted average number of common shares used in basic EPS (in shares)	135.7	136.4	136.2	136.2
Dilutive effect of stock-based compensation (in shares)	0.4	0.5	0.4	0.5
Weighted average number of common shares and dilutive potential common shares used in diluted EPS (in shares)	136.1	136.9	136.6	136.7
Basic and diluted EPS:
Basic EPS attributable to Leggett & Platt, Inc. common shareholders (in usd per share)	$ 0.53	$ 0.71	$ 1.89	$ 2.18
Diluted EPS attributable to Leggett & Platt, Inc. common shareholders (in usd per share)	$ 0.52	$ 0.71	$ 1.88	$ 2.17
Other information:
Anti-dilutive shares excluded from diluted EPS computation (in shares)	0.4	0.2	0.4	0.1
Cash dividends declared per share (in usd per share)	$ 0.44	$ 0.42	$ 1.30	$ 1.24

ACCOUNTS AND OTHER RECEIVABLES - Components of Accounts and Other Receivables (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Current
Trade accounts receivable	$ 692.5	$ 634.2
Trade notes receivable	0.4	0.7
Total trade receivables	692.9	634.9
Other notes receivable	0.0	0.7
Taxes receivable, including income taxes	2.1	4.3
Value-added taxes recoverable	41.8	14.5
Other receivables	10.6	12.0
Subtotal other receivables	54.5	31.5
Total trade and other receivables	747.4	666.4
Allowance for doubtful accounts:
Trade accounts receivable	(17.0)	(14.9)
Trade notes receivable	(0.1)	0.0
Total trade receivables	(17.1)	(14.9)
Other notes receivable	0.0	0.0
Total allowance for doubtful accounts	(17.1)	(14.9)
Total receivables, net	730.3	651.5
Long-term
Trade accounts receivable	0.0	0.0
Trade notes receivable	0.1	0.2
Total trade receivables	0.1	0.2
Other notes receivable	22.5	22.5
Taxes receivable, including income taxes	0.0	0.0
Value-added taxes recoverable	0.0	0.0
Other receivables	0.0	0.0
Subtotal other receivables	22.5	22.5
Total trade and other receivables	22.6	22.7
Allowance for doubtful accounts:
Trade accounts receivable	0.0	0.0
Trade notes receivable	0.0	(0.1)
Total trade receivables	0.0	(0.1)
Other notes receivable	(21.4)	(22.0)
Total allowance for doubtful accounts	(21.4)	(22.1)
Total net receivables	1.2	0.6
Receivable, gross
Trade accounts receivable	692.5	634.2
Trade notes receivable	0.5	0.9
Total trade receivables	693.0	635.1
Other notes receivable	22.5	23.2
Taxes receivable, including income taxes	2.1	4.3
Value-added taxes recoverable	41.8	14.5
Other receivables	10.6	12.0
Subtotal other receivables	77.0	54.0
Total trade and other receivables	770.0	689.1
Allowance for doubtful accounts:
Total, trade accounts receivables	(17.0)	(14.9)
Total, trade notes receivables	(0.1)	(0.1)
Total, trade receivables	(17.1)	(15.0)
Total, other notes receivable	(21.4)	(22.0)
Total allowance for doubtful accounts	(38.5)	(37.0)
Total net receivables	$ 731.5	$ 652.1

ACCOUNTS AND OTHER RECEIVABLES - Components of Accounts and Other Receivables - Narrative (Details) - Bedding Products - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ 21.6	$ 22.5
Increase in value added tax recoverable		27.3
Trade Accounts Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	0.2	0.5
Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ 21.4	$ 22.0

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

ACCOUNTS AND OTHER RECEIVABLES - Allowance for Doubtful Accounts (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 37.0
Add: Charges	2.1	$ (2.3)
Less: Net Charge-offs/ (Recoveries) and Other	0.6
Balance at end of period	38.5
Trade accounts receivable
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	14.9
Add: Charges	2.7
Less: Net Charge-offs/ (Recoveries) and Other	0.6
Balance at end of period	17.0
Trade notes receivable
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	0.1
Add: Charges	0.0
Less: Net Charge-offs/ (Recoveries) and Other	0.0
Balance at end of period	0.1
Total trade receivables
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	15.0
Add: Charges	2.7
Less: Net Charge-offs/ (Recoveries) and Other	0.6
Balance at end of period	17.1
Other notes receivable
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	22.0
Add: Charges	(0.6)
Less: Net Charge-offs/ (Recoveries) and Other	0.0
Balance at end of period	$ 21.4

STOCK-BASED COMPENSATION - Components of Stock Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation			$ 25.0	$ 28.4
Tax benefits on stock-based compensation expense	$ 0.4	$ 1.5	4.7	8.5
To be settled with stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	1.6	5.5	16.8	21.1
Employee contributions for above stock plans	2.7	2.6	8.2	7.3
Total stock-based compensation	4.3	8.1	25.0	28.4
Tax benefits on stock-based compensation expense	0.4	1.3	4.1	5.1
To be settled with stock \| Tax benefits on stock-based compensation payments
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefits on stock-based compensation expense	0.0	0.2	0.6	3.4
To be settled with stock \| Executive Stock Unit (ESU) program contributions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	0.4	1.0	2.6	3.4
To be settled with stock \| Deferred Stock Compensation Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	0.4	0.6	1.2	1.4
To be settled with stock \| ESU program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	0.3	0.5	1.0	1.1
To be settled with stock \| Discount Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	0.2	0.2	0.6	0.7
To be settled with stock \| PSU - TSR based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	0.6	0.8	1.9	2.3
To be settled with stock \| PSU - E B I T C A G R based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	(1.6)	1.5	(0.4)	4.7
To be settled with stock \| Restricted Stock Unit (RSU) awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	0.9	0.8	8.5	7.2
To be settled with stock \| Other, primarily non-employee directors restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	0.4	0.1	1.4	0.3
To be settled in cash
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	(1.0)	0.2	0.2	6.2
To be settled in cash \| Executive Stock Unit (ESU) program contributions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	0.2	0.3	0.6	0.6
To be settled in cash \| Deferred Stock Compensation Program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	0.0	0.0	0.0	0.0
To be settled in cash \| ESU program
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	0.0	0.0	0.0	0.0
To be settled in cash \| Discount Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	0.0	0.0	0.0	0.0
To be settled in cash \| PSU - TSR based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	0.2	(0.6)	0.5	0.6
To be settled in cash \| PSU - E B I T C A G R based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	(1.4)	0.5	(0.9)	5.0
To be settled in cash \| Restricted Stock Unit (RSU) awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	0.0	0.0	0.0	0.0
To be settled in cash \| Other, primarily non-employee directors restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-related compensation expense	$ 0.0	$ 0.0	$ 0.0	$ 0.0

STOCK-BASED COMPENSATION - Additional Information (Details)	9 Months Ended
	Sep. 30, 2022 company
Prior PSU awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award intended to pay out in stock	50.00%
Share based compensation arrangement by share based payment award percentage paid out in cash	50.00%
Reserved percentage of award intended to pay out in cash	100.00%
PSU awards based on TSR compared to peer group	50.00%
PSU awards based on TSR for business unit employees	100.00%
Vesting period in years	3 years
Number of companies forming peer group	300
Award performance period	3 years
Prior PSU awards \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Base award percentage of total shareholder return	0.00%
Prior PSU awards \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Base award percentage of total shareholder return	200.00%
PSU - E B I T C A G R based
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period in years	3 years
Percentage of award vesting	50.00%
Period in which expense is recognized	3 years
PSU - E B I T C A G R based \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Base award percentage of total shareholder return	0.00%
PSU - E B I T C A G R based \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Base award percentage of total shareholder return	200.00%

STOCK-BASED COMPENSATION - Summary of Performance Stock Units (Details) - Performance Stock Unit - $ / shares shares in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
TSR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares base award (in shares)	0.1	0.1
Grant date per share fair value (in usd per share)	$ 41.13	$ 49.43
Risk-free interest rate	0.20%	0.20%
Vesting period in years	3 years	3 years
Expected volatility (over expected life)	45.20%	44.30%
Expected dividend yield (over expected life)	4.60%	3.70%
EBIT CAGR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total shares base award (in shares)	0.1	0.1
Grant date per share fair value (in usd per share)	$ 32.88	$ 38.77
Vesting period in years	3 years	3 years

STOCK-BASED COMPENSATION - Schedule of Performance Cycles (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Award Year 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout as a Percent of the Base Award		56.00%
Number of shares distributed (less than) (in shares)		0.1
Cash Portion		$ 2.0
TSR performance relative to the peer group (1% best)		60.00%
Award Year 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout as a Percent of the Base Award	0.00%
Number of shares distributed (less than) (in shares)	0.0
Cash Portion	$ 0.0
TSR performance relative to the peer group (1% best)	78.00%
Award Year 2018, PSU - EBIT CAGR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout as a Percent of the Base Award		16.00%
Number of shares distributed (less than) (in shares)		0.1
Cash Portion		$ 0.4
Award Year 2019, PSU - EBIT CAGR
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout as a Percent of the Base Award	127.00%
Number of shares distributed (less than) (in shares)	0.1
Cash Portion	$ 3.5

ACQUISITIONS - Narrative (Details) $ in Millions						9 Months Ended
ACQUISITIONS - Narrative (Details) $ in Millions	Aug. 26, 2022 USD ($)	Aug. 22, 2022 USD ($)	Jun. 04, 2021 USD ($) manufacturingFacility	May 31, 2021 USD ($)	Jan. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) acquisition	Sep. 30, 2021 USD ($) acquisition
Business Acquisition [Line Items]
Number of Acquisitions \| acquisition						2	3
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Contingent consideration, low range						$ 9.0
Contingent consideration, high range						58.0
Contingent consideration, liability						27.0
Contingent consideration, liability current						11.0
Contingent consideration, liability noncurrent						16.0
Purchase price						$ 62.5	$ 152.3
Premium foam and bedding manufacturer
Business Acquisition [Line Items]
Purchase price			$ 119.7
Goodwill acquired			$ 58.3
Number of manufacturing facilities \| manufacturingFacility			2
Polish manufacturer
Business Acquisition [Line Items]
Purchase price				$ 5.4
Goodwill acquired				$ 4.4
UK manufacturer
Business Acquisition [Line Items]
Purchase price					$ 27.7
Goodwill acquired					$ 8.5
Converter and Distributer of Construction Fabrics
Business Acquisition [Line Items]
Purchase price		$ 2.3
Goodwill acquired		$ 0.1
Global Manufacturer Of Hydraulic Cylinders
Business Acquisition [Line Items]
Purchase price	$ 87.8
Goodwill acquired	$ 35.8

ACQUISITIONS - Estimated Fair Values Of The Assets Acquired And Liabilities Assumed (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 1,449.6		$ 1,449.6
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Accounts receivable	30.4	$ 20.7
Inventory	36.5	17.4
Property, plant and equipment	5.8	15.3
Goodwill	35.9	76.9
Other current and long-term assets	5.8	5.5
Current liabilities	(51.9)	(40.8)
Deferred income taxes	(16.7)	(10.9)
Other long-term liabilities	(2.6)	(4.7)
Fair value of net identifiable assets	90.1	152.8
Less: Additional contingent consideration payable	27.6	0.5
Net cash consideration	$ 62.5	152.3
Customer Relationships \| Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Useful life	15 years
Other intangible assets	$ 39.5	45.5
Technology-Based Intangible Assets \| Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Other intangible assets	$ 5.0	18.6
Technology-Based Intangible Assets \| Series of Individually Immaterial Business Acquisitions \| Minimum
Business Acquisition [Line Items]
Useful life	8 years
Technology-Based Intangible Assets \| Series of Individually Immaterial Business Acquisitions \| Maximum
Business Acquisition [Line Items]
Useful life	15 years
Trademarks and Trade Names \| Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Other intangible assets	$ 1.2	6.6
Trademarks and Trade Names \| Series of Individually Immaterial Business Acquisitions \| Minimum
Business Acquisition [Line Items]
Useful life	15 years
Trademarks and Trade Names \| Series of Individually Immaterial Business Acquisitions \| Maximum
Business Acquisition [Line Items]
Useful life	20 years
Noncompete Agreements \| Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Other intangible assets	$ 1.2	$ 2.7
Noncompete Agreements \| Series of Individually Immaterial Business Acquisitions \| Minimum
Business Acquisition [Line Items]
Useful life	1 year
Noncompete Agreements \| Series of Individually Immaterial Business Acquisitions \| Maximum
Business Acquisition [Line Items]
Useful life	10 years

INVENTORIES - Components of Inventory (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 415.8	$ 429.1
Work in process	75.3	66.9
Raw materials and supplies	484.9	497.2
Inventories	$ 976.0	$ 993.2

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Retirement Benefits [Abstract]
Expected employer contribution	$ 3.0		$ 3.0
Components of net pension expense
Service cost	1.2	$ 1.3	3.9	$ 3.8
Interest cost	1.7	1.5	5.0	4.5
Expected return on plan assets	(3.3)	(3.2)	(9.9)	(9.5)
Recognized net actuarial loss	0.6	1.3	2.0	3.9
Net pension expense	$ 0.2	$ 0.9	$ 1.0	$ 2.7
Defined benefit plan, type [Extensible Enumeration]			Pension Plan [Member]

- Definition

Indicates type of defined benefit plan. Includes, but is not limited to, pension plan, other postretirement plan and special and contractual termination benefits payable upon retirement.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)(iv)(01)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
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-Subparagraph (d)(i)
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-Subparagraph (b)(6)
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-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Publisher FASB
-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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-Publisher FASB
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+ Details

STATEMENT OF CHANGES IN EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Statement of Changes in Equity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 1,614.6	$ 1,536.0	$ 1,648.6	$ 1,425.1
Net earnings	71.5	97.2	257.1	297.0
Dividends declared	(58.4)	(56.1)	(173.1)	(165.4)
Treasury stock purchased	(3.5)	(0.3)	(60.3)	(12.1)
Treasury stock issued	1.4	1.9	8.3	9.3
Foreign currency translation adjustments	(61.7)	(15.7)	(131.5)	(16.5)
Cash flow hedges, net of tax	(4.2)	8.3	(6.0)	10.5
Defined benefit pension plans, net of tax	0.9	1.0	1.6	2.7
Stock-based compensation transactions, net of tax	2.2	5.3	18.1	25.5
Purchase of remaining interest in noncontrolling interest, net of acquisitions				1.5
Ending balance	1,562.8	1,577.6	1,562.8	1,577.6
Retained Earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	3,041.3	2,885.0	2,973.0	2,797.2
Net earnings	71.4	97.2	257.0	296.9
Dividends declared	(59.7)	(57.4)	(177.0)	(169.3)
Ending balance	3,053.0	2,924.8	3,053.0	2,924.8
Common Stock & Additional Contributed Capital
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	563.3	548.6	559.9	545.2
Dividends declared	1.3	1.3	3.9	3.9
Treasury stock issued	0.0	(0.5)	(15.1)	(20.2)
Stock-based compensation transactions, net of tax	2.2	5.3	18.1	25.5
Purchase of remaining interest in noncontrolling interest, net of acquisitions				0.3
Ending balance	566.8	554.7	566.8	554.7
Treasury Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(1,881.4)	(1,850.1)	(1,846.6)	(1,865.4)
Treasury stock purchased	(3.5)	(0.3)	(60.3)	(12.1)
Treasury stock issued	1.4	2.4	23.4	29.5
Ending balance	(1,883.5)	(1,848.0)	(1,883.5)	(1,848.0)
Noncontrolling Interest
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	0.6	1.8	0.6	0.5
Net earnings	0.1	0.0	0.1	0.1
Foreign currency translation adjustments	(0.1)		(0.1)
Purchase of remaining interest in noncontrolling interest, net of acquisitions				1.2
Ending balance	0.6	1.8	0.6	1.8
Accumulated Other Comprehensive Income (Loss)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(109.2)	(49.3)	(38.3)	(52.4)
Foreign currency translation adjustments	(61.6)	(15.7)	(131.4)	(16.5)
Cash flow hedges, net of tax	(4.2)	8.3	(6.0)	10.5
Defined benefit pension plans, net of tax	0.9	1.0	1.6	2.7
Ending balance	$ (174.1)	$ (55.7)	$ (174.1)	$ (55.7)

STATEMENT OF CHANGES IN EQUITY AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) - Changes in Each Component of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	$ 1,614.6	$ 1,536.0	$ 1,648.6	$ 1,425.1
Other comprehensive income (loss)	(66.2)	(4.1)	(137.5)	(1.7)
Reclassifications, pretax	0.5	1.0	0.3	2.9
Income tax effect	0.7	(3.3)	1.3	(4.5)
Attributable to noncontrolling interest	0.1		0.1
Ending balance	1,562.8	1,577.6	1,562.8	1,577.6
Net trade sales	1,294.4	1,319.2	3,950.9	3,739.7
Cost of goods and services sold	1,063.9	1,063.1	3,184.7	2,966.8
Interest expense	20.5	19.0	62.3	57.8
Net earnings	71.5	97.2	257.1	297.0
Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(81.5)	5.6	(11.7)	6.4
Other comprehensive income (loss)	(61.7)	(15.7)	(131.5)	(16.5)
Reclassifications, pretax	0.0	0.0	0.0	0.0
Income tax effect	0.0	0.0	0.0	0.0
Attributable to noncontrolling interest	0.1		0.1
Ending balance	(143.1)	(10.1)	(143.1)	(10.1)
Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	10.1	3.6	11.9	1.4
Other comprehensive income (loss)	(5.1)	11.6	(5.6)	15.1
Reclassifications, pretax	(0.1)	(0.3)	(1.7)	(1.0)
Income tax effect	1.0	(3.0)	1.3	(3.6)
Attributable to noncontrolling interest	0.0		0.0
Ending balance	5.9	11.9	5.9	11.9
Defined Benefit Pension Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(37.8)	(58.5)	(38.5)	(60.2)
Other comprehensive income (loss)	0.6	0.0	(0.4)	(0.3)
Reclassifications, pretax	0.6	1.3	2.0	3.9
Income tax effect	(0.3)	(0.3)	0.0	(0.9)
Attributable to noncontrolling interest	0.0		0.0
Ending balance	(36.9)	(57.5)	(36.9)	(57.5)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance	(109.2)	(49.3)	(38.3)	(52.4)
Ending balance	(174.1)	(55.7)	(174.1)	(55.7)
Reclassification out of AOCI \| Foreign Currency Translation Adjustments
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Net trade sales	0.0	0.0	0.0	0.0
Cost of goods and services sold	0.0	0.0	0.0	0.0
Interest expense	0.0	0.0	0.0	0.0
Other income (expense), net	0.0	0.0	0.0	0.0
Net earnings	0.0	0.0	0.0	0.0
Reclassification out of AOCI \| Cash Flow Hedges
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Net trade sales	(0.6)	(1.5)	(3.4)	(4.9)
Cost of goods and services sold	(0.1)	0.1	(0.7)	0.5
Interest expense	0.6	1.1	2.4	3.4
Other income (expense), net	0.0	0.0	0.0	0.0
Net earnings	(0.1)	(0.3)	(1.7)	(1.0)
Reclassification out of AOCI \| Defined Benefit Pension Plans
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Net trade sales	0.0	0.0	0.0	0.0
Cost of goods and services sold	0.0	0.0	0.0	0.0
Interest expense	0.0	0.0	0.0	0.0
Other income (expense), net	0.6	1.3	2.0	3.9
Net earnings	0.6	1.3	2.0	3.9
Reclassification out of AOCI \| Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Net trade sales	(0.6)	(1.5)	(3.4)	(4.9)
Cost of goods and services sold	(0.1)	0.1	(0.7)	0.5
Interest expense	0.6	1.1	2.4	3.4
Other income (expense), net	0.6	1.3	2.0	3.9
Net earnings	$ 0.5	$ 1.0	$ 0.3	$ 2.9

FAIR VALUE - Items Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Total
Cash equivalents:
Derivative assets	$ 5.1	$ 5.9
Total assets	135.8	171.3
Liabilities:
Derivative liabilities	12.6	1.2
Total liabilities	53.0	52.1
Total \| Diversified investments associated with the (ESUP)
Cash equivalents:
Diversified investments associated with the ESU program	39.8	51.0
Total \| Liabilities associated with the ESUP
Liabilities:
Liabilities associated with the ESU program	40.4	50.9
Total \| Bank time deposits with original maturities of three months or less
Cash equivalents:
Bank time deposits with original maturities of three months or less	90.9	114.4
Level 1
Cash equivalents:
Derivative assets	0.0	0.0
Total assets	39.8	51.0
Liabilities:
Derivative liabilities	0.0	0.0
Total liabilities	40.4	50.9
Level 1 \| Diversified investments associated with the (ESUP)
Cash equivalents:
Diversified investments associated with the ESU program	39.8	51.0
Level 1 \| Liabilities associated with the ESUP
Liabilities:
Liabilities associated with the ESU program	40.4	50.9
Level 1 \| Bank time deposits with original maturities of three months or less
Cash equivalents:
Bank time deposits with original maturities of three months or less	0.0	0.0
Level 2
Cash equivalents:
Derivative assets	5.1	5.9
Total assets	96.0	120.3
Liabilities:
Derivative liabilities	12.6	1.2
Total liabilities	12.6	1.2
Level 2 \| Diversified investments associated with the (ESUP)
Cash equivalents:
Diversified investments associated with the ESU program	0.0	0.0
Level 2 \| Liabilities associated with the ESUP
Liabilities:
Liabilities associated with the ESU program	0.0	0.0
Level 2 \| Bank time deposits with original maturities of three months or less
Cash equivalents:
Bank time deposits with original maturities of three months or less	90.9	114.4
Level 3
Cash equivalents:
Derivative assets	0.0	0.0
Total assets	0.0	0.0
Liabilities:
Derivative liabilities	0.0	0.0
Total liabilities	0.0	0.0
Level 3 \| Diversified investments associated with the (ESUP)
Cash equivalents:
Diversified investments associated with the ESU program	0.0	0.0
Level 3 \| Liabilities associated with the ESUP
Liabilities:
Liabilities associated with the ESU program	0.0	0.0
Level 3 \| Bank time deposits with original maturities of three months or less
Cash equivalents:
Bank time deposits with original maturities of three months or less	$ 0.0	$ 0.0

FAIR VALUE - Additional Information (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fixed rate debt (less) greater than carrying value	$ (230.0)	$ 130.0
Fixed rate debt carrying value	$ 1,784.0	$ 2,082.3

DERIVATIVE FINANCIAL INSTRUMENTS - Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Other Current Assets
Assets
Total derivatives	$ 5.0	$ 5.9
Sundry
Assets
Total derivatives	0.1	0.0
Other Current Liabilities
Liabilities
Total derivative	11.9	1.1
Other Long-Term Liabilities
Liabilities
Total derivative	0.7	0.1
Designated as Hedging Instrument \| Cash flow hedges
Derivatives, Fair Value [Line Items]
Total USD Equivalent Notional Amount	253.2	260.6
Designated as Hedging Instrument \| Cash flow hedges \| Other Current Assets
Assets
Total derivatives	4.6	5.1
Designated as Hedging Instrument \| Cash flow hedges \| Sundry
Assets
Total derivatives	0.1	0.0
Designated as Hedging Instrument \| Cash flow hedges \| Other Current Liabilities
Liabilities
Total derivative	9.4	0.7
Designated as Hedging Instrument \| Cash flow hedges \| Other Long-Term Liabilities
Liabilities
Total derivative	0.7	0.1
Designated as Hedging Instrument \| Fair value hedges
Derivatives, Fair Value [Line Items]
Total USD Equivalent Notional Amount	56.6	54.2
Designated as Hedging Instrument \| Fair value hedges \| Other Current Assets
Assets
Total derivatives	0.0	0.4
Designated as Hedging Instrument \| Fair value hedges \| Sundry
Assets
Total derivatives	0.0	0.0
Designated as Hedging Instrument \| Fair value hedges \| Other Current Liabilities
Liabilities
Total derivative	1.5	0.0
Designated as Hedging Instrument \| Fair value hedges \| Other Long-Term Liabilities
Liabilities
Total derivative	0.0	0.0
Not Designated as Hedging Instrument
Derivatives, Fair Value [Line Items]
Total USD Equivalent Notional Amount	94.8	40.1
Not Designated as Hedging Instrument \| Other Current Assets
Assets
Total derivatives	0.4	0.4
Not Designated as Hedging Instrument \| Sundry
Assets
Total derivatives	0.0	0.0
Not Designated as Hedging Instrument \| Other Current Liabilities
Liabilities
Total derivative	1.0	0.4
Not Designated as Hedging Instrument \| Other Long-Term Liabilities
Liabilities
Total derivative	$ 0.0	$ 0.0

DERIVATIVE FINANCIAL INSTRUMENTS - Pre-Tax Gains (Losses) of Hedging Activities (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss recorded in income	$ 2.0	$ (4.3)	$ 1.5	$ (10.8)
Designated as Hedging Instrument \| Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss recorded in income	0.4	(1.6)	(1.2)	(3.9)
Designated as Hedging Instrument \| Fair value hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss recorded in income	3.9	(1.5)	4.9	(5.5)
Designated as Hedging Instrument \| Interest rate cash flow hedges \| Cash flow hedges
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss recorded in income	0.6	1.1	2.4	3.4
Designated as Hedging Instrument \| Currency cash flow hedges \| Cash flow hedges \| Net trade sales
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss recorded in income	0.6	(2.5)	(1.7)	(7.4)
Designated as Hedging Instrument \| Currency cash flow hedges \| Cash flow hedges \| Cost of goods sold
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss recorded in income	(0.8)	(0.2)	(1.9)	0.1
Not Designated as Hedging Instrument
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (gain) loss recorded in income	$ (2.3)	$ (1.2)	$ (2.2)	$ (1.4)

OTHER EXPENSE (INCOME), NET (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Other Income Expense [Line Items]
Restructuring charges (income)	$ 1.4	$ 0.0	$ 1.4	$ (0.3)
Currency (income) loss	(2.0)	(0.5)	(2.7)	0.9
Insurance proceeds	0.0	(6.6)	0.0	(6.6)
Other income	(1.1)	(0.6)	(3.4)	(2.8)
Other income	0.6	(8.6)	6.5	(15.5)
Business interruption policy				5.0
Storm damage provision		1.6		1.6
COVID-19
Other Income Expense [Line Items]
COVID-19 government subsidies	0.0	(1.3)	0.0	(2.8)
Business interruption policy		5.0
Executive Stock Unit Program
Other Income Expense [Line Items]
Loss (gain) from diversified investments associated with Executive Stock Unit Program	$ 2.3	$ 0.4	$ 11.2	$ (3.9)

CONTINGENCIES (Details) - USD ($) $ in Millions	Sep. 30, 2022	Sep. 30, 2021
Loss Contingencies [Line Items]
Accrual	$ 3.0	$ 3.0
Other matters \| Pending litigation
Loss Contingencies [Line Items]
Estimate of possible loss	$ 10.5