Leggett & Platt Incorporated : Retrospectively adjusted Statement of Operations and Segment Earnings Data for the annual and quarterly periods from 2015 through 2020, and retrospectively adjusted Balance Sheet data for the annual periods from 2015 through 2020, and quarterly periods in 2020
May 04, 2021 at 04:03 am EDT
Share
Exhibit 99.1
Retrospectively Adjusted Statement of Operations,
Segment Earnings, and Balance Sheet Data
(Unaudited)
2015
2016
(In millions, except per share data)
1Q15
2Q15
3Q15
4Q15
FY15
1Q16
2Q16
3Q16
4Q16
FY16
CONSOLIDATED STATEMENTS OF OPERATIONS
Net trade sales
$
966.2
$
997.3
$
1,009.1
$
944.6
$
3,917.2
$
938.4
$
958.9
$
948.9
$
903.7
$
3,749.9
Cost of goods sold
753.4
772.8
782.0
732.2
3,040.4
705.1
718.2
726.2
687.0
2,836.5
Gross profit
$
212.8
$
224.5
$
227.1
$
212.4
$
876.8
$
233.3
$
240.7
$
222.7
$
216.7
$
913.4
Selling and administrative expenses
97.5
106.6
96.9
115.9
416.9
105.1
99.7
93.9
97.0
395.7
Amortization of intangibles
5.2
5.2
5.2
5.2
20.8
5.1
4.8
5.2
4.8
19.9
Other (income) expense, net
3.4
(.3)
(2.5)
2.4
3.0
(3.7)
(18.8)
(1.9)
(13.5)
(37.9)
Earnings from continuing operations before interest and taxes
$
106.7
$
113.0
$
127.5
$
88.9
$
436.1
$
126.8
$
155.0
$
125.5
$
128.4
$
535.7
Interest expense
11.0
11.2
10.3
8.6
41.1
9.2
10.3
9.9
9.4
38.8
Interest income
1.3
1.0
1.1
1.0
4.4
.8
1.0
.9
1.2
3.9
Earnings from continuing operations before income taxes
$
97.0
$
102.8
$
118.3
$
81.3
$
399.4
$
118.4
$
145.7
$
116.5
$
120.2
$
500.8
Income taxes
26.8
30.0
30.7
15.2
102.7
27.5
40.9
25.9
30.9
125.2
Earnings from continuing operations
$
70.2
$
72.8
$
87.6
$
66.1
$
296.7
$
90.9
$
104.8
$
90.6
$
89.3
$
375.6
Earnings (loss) from discontinued operations, net of tax
(.5)
1.8
(.1)
-
1.2
.1
20.3
-
(1.3)
19.1
Net earnings
$
69.7
$
74.6
$
87.5
$
66.1
$
297.9
$
91.0
$
125.1
$
90.6
$
88.0
$
394.7
(Earnings) attributable to noncontrolling interest, net of tax
1.1
.8
.9
1.3
4.1
1.6
(1.4)
.1
.1
.4
Net earnings attributable to Leggett & Platt, Inc. common shareholders
$
68.6
$
73.8
$
86.6
$
64.8
$
293.8
$
89.4
$
126.5
$
90.5
$
87.9
$
394.3
Earnings (loss) per share attributable to Leggett & Platt, Inc. common shareholders
Diluted from continuing operations
$
.48
$
.50
$
.61
$
.46
$
2.05
$
.63
$
.76
$
.65
$
.64
$
2.68
Diluted from discontinued operations
$
-
$
.01
$
-
$
-
$
.01
$
-
$
.15
$
-
$
(.01)
$
.14
Total Diluted
$
.48
$
.51
$
.61
$
.46
$
2.06
$
.63
$
.91
$
.65
$
.63
$
2.82
SEGMENT DATA
EBIT
Bedding Products
$
43.0
$
40.9
$
50.9
$
30.0
$
164.8
$
50.7
$
59.8
$
50.6
$
53.4
$
214.5
Specialized Products
37.3
36.2
36.2
38.4
148.1
43.5
56.2
40.8
43.2
183.7
Furniture, Flooring & Textile Products
26.8
36.0
40.3
32.6
135.7
32.7
38.7
34.3
31.8
137.5
Intersegment Eliminations and Other
(.4)
(.1)
.1
(12.1)
(12.5)
(.1)
.3
(.2)
-
-
Total
$
106.7
$
113.0
$
127.5
$
88.9
$
436.1
$
126.8
$
155.0
$
125.5
$
128.4
$
535.7
EBIT Margin (EBIT / Trade Sales)
Bedding Products
9.7
%
9.5
%
11.3
%
7.5
%
9.6
%
12.9
%
15.5
%
13.0
%
15.1
%
14.1
%
Specialized Products
18.3
%
16.8
%
17.2
%
18.1
%
17.6
%
19.8
%
23.9
%
18.6
%
19.2
%
20.4
%
Furniture, Flooring & Textile Products
8.5
%
10.2
%
11.5
%
9.8
%
10.0
%
10.1
%
11.4
%
10.1
%
9.8
%
10.3
%
Overall
11.0
%
11.3
%
12.6
%
9.4
%
11.1
%
13.5
%
16.2
%
13.2
%
14.2
%
14.3
%
1
2017
2018
(In millions, except per share data)
1Q17
2Q17
3Q17
4Q17
FY17
1Q18
2Q18
3Q18
4Q18
FY18
CONSOLIDATED STATEMENTS OF OPERATIONS
Net trade sales
$
960.3
$
989.3
$
1,009.7
$
984.5
$
3,943.8
$
1,028.8
$
1,102.5
$
1,091.5
$
1,046.7
$
4,269.5
Cost of goods sold
733.8
756.9
786.5
770.0
3,047.2
805.5
859.0
859.2
833.7
3,357.4
Gross profit
$
226.5
$
232.4
$
223.2
$
214.5
$
896.6
$
223.3
$
243.5
$
232.3
$
213.0
$
912.1
Selling and administrative expenses
106.1
104.7
95.4
94.3
400.5
104.7
107.8
100.7
111.9
425.1
Amortization of intangibles
5.1
4.7
6.2
4.7
20.7
5.0
5.1
5.2
5.2
20.5
Other (income) expense, net
(.4)
(1.0)
5.5
(11.0)
(6.9)
.3
(3.0)
(3.2)
12.1
6.2
Earnings from continuing operations before interest and taxes
$
115.7
$
124.0
$
116.1
$
126.5
$
482.3
$
113.3
$
133.6
$
129.6
$
83.8
$
460.3
Interest expense
10.6
10.4
10.2
12.3
43.5
14.4
16.0
13.1
17.4
60.9
Interest income
2.0
1.5
1.7
2.4
7.6
2.4
2.4
2.0
1.6
8.4
Earnings from continuing operations before income taxes
$
107.1
$
115.1
$
107.6
$
116.6
$
446.4
$
101.3
$
120.0
$
118.5
$
68.0
$
407.8
Income taxes
21.1
26.5
19.8
71.0
138.4
19.0
25.5
24.6
15.0
84.1
Earnings from continuing operations
$
86.0
$
88.6
$
87.8
$
45.6
$
308.0
$
82.3
$
94.5
$
93.9
$
53.0
$
323.7
Earnings (loss) from discontinued operations, net of tax
-
-
(.9)
-
(.9)
-
-
-
-
-
Net earnings
$
86.0
$
88.6
$
86.9
$
45.6
$
307.1
$
82.3
$
94.5
$
93.9
$
53.0
$
323.7
(Earnings) attributable to noncontrolling interest, net of tax
-
-
-
.1
.1
-
.1
-
.1
.2
Net earnings attributable to Leggett & Platt, Inc. common shareholders
$
86.0
$
88.6
$
86.9
$
45.5
$
307.0
$
82.3
$
94.4
$
93.9
$
52.9
$
323.5
Earnings (loss) per share attributable to Leggett & Platt, Inc. common shareholders
Diluted from continuing operations
$
.62
$
.64
$
.65
$
.34
$
2.25
$
.60
$
.70
$
.70
$
.39
$
2.39
Diluted from discontinued operations
$
-
$
-
$
(.01)
$
-
$
(.01)
$
-
$
-
$
-
$
-
$
-
Total Diluted
$
.62
$
.64
$
.64
$
.34
$
2.24
$
.60
$
.70
$
.70
$
.39
$
2.39
SEGMENT DATA
EBIT
Bedding Products
$
46.5
$
44.7
$
48.4
$
36.2
$
175.8
$
45.1
$
49.1
$
59.5
$
17.7
$
171.4
Specialized Products
43.0
43.9
34.6
74.4
195.9
46.3
52.2
43.6
47.4
189.5
Furniture, Flooring & Textile Products
26.0
35.4
33.1
31.2
125.7
22.0
32.5
26.6
18.8
99.9
Intersegment Eliminations and Other
.2
-
-
(15.3)
(15.1)
(.1)
(.2)
(.1)
(.1)
(.5)
Total
$
115.7
$
124.0
$
116.1
$
126.5
$
482.3
$
113.3
$
133.6
$
129.6
$
83.8
$
460.3
EBIT Margin (EBIT / Trade Sales)
Bedding Products
11.9
%
11.5
%
11.5
%
9.0
%
11.0
%
10.5
%
10.8
%
12.4
%
4.1
%
9.5
%
Specialized Products
18.3
%
18.4
%
15.2
%
31.7
%
20.9
%
17.3
%
18.9
%
17.2
%
18.3
%
17.9
%
Furniture, Flooring & Textile Products
7.8
%
9.8
%
9.2
%
9.0
%
9.0
%
6.6
%
8.7
%
7.4
%
5.3
%
7.0
%
Overall
12.0
%
12.5
%
11.5
%
12.8
%
12.2
%
11.0
%
12.1
%
11.9
%
8.0
%
10.8
%
2
2019
2020
(In millions, except per share data)
1Q19
2Q19
3Q19
4Q19
FY19
1Q20
2Q20
3Q20
4Q20
FY20
CONSOLIDATED STATEMENTS OF OPERATIONS
Net trade sales
$
1,155.1
$
1,213.2
$
1,239.3
$
1,144.9
$
4,752.5
$
1,045.5
$
845.1
$
1,207.6
$
1,182.0
$
4,280.2
Cost of goods sold
921.0
953.0
969.7
884.8
3,728.5
824.8
698.5
937.9
914.9
3,376.1
Gross profit
$
234.1
$
260.2
$
269.6
$
260.1
$
1,024.0
$
220.7
$
146.6
$
269.7
$
267.1
$
904.1
Selling and administrative expenses
118.6
118.3
115.2
117.6
469.7
117.8
97.2
105.6
103.8
424.4
Amortization of intangibles
14.1
16.9
16.3
16.0
63.3
16.4
16.3
16.2
16.3
65.2
Other (income) expense, net
2.1
(1.5)
(.1)
3.7
4.2
7.9
10.4
(2.3)
(9.0)
7.0
Earnings from continuing operations before interest and taxes
$
99.3
$
126.5
$
138.2
$
122.8
$
486.8
$
78.6
$
22.7
$
150.2
$
156.0
$
407.5
Interest expense
21.4
24.5
22.6
22.2
90.7
20.9
21.4
20.9
19.5
82.7
Interest income
1.4
2.6
1.5
1.9
7.4
.9
1.0
.5
.7
3.1
Earnings from continuing operations before income taxes
$
79.3
$
104.6
$
117.1
$
102.5
$
403.5
$
58.6
$
2.3
$
129.8
$
137.2
$
327.9
Income taxes
17.2
25.4
22.0
24.8
89.4
14.5
8.4
22.7
29.2
74.8
Earnings from continuing operations
$
62.1
$
79.2
$
95.1
$
77.7
$
314.1
$
44.1
$
(6.1)
$
107.1
$
108.0
$
253.1
Earnings (loss) from discontinued operations, net of tax
-
-
-
-
-
-
-
-
-
-
Net earnings
$
62.1
$
79.2
$
95.1
$
77.7
$
314.1
$
44.1
$
(6.1)
$
107.1
$
108.0
$
253.1
(Earnings) attributable to noncontrolling interest, net of tax
(.1)
.1
-
.1
.1
-
-
.1
-
.1
Net earnings attributable to Leggett & Platt, Inc. common shareholders
$
62.2
$
79.1
$
95.1
$
77.6
$
314.0
$
44.1
$
(6.1)
$
107.0
$
108.0
$
253.0
Earnings (loss) per share attributable to Leggett & Platt, Inc. common shareholders
Diluted from continuing operations
$
.46
$
.59
$
.70
$
.57
$
2.32
$
.33
$
(.05)
$
.79
$
.79
$
1.86
Diluted from discontinued operations
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
$
-
Total Diluted
$
.46
$
.59
$
.70
$
.57
$
2.32
$
.33
$
(.05)
$
.79
$
.79
$
1.86
SEGMENT DATA
EBIT
Bedding Products
$
44.6
$
55.1
$
67.2
$
48.0
$
214.9
$
28.3
$
18.9
$
75.8
$
69.4
$
192.4
Specialized Products
35.6
41.5
44.1
48.7
169.9
27.7
(19.7)
32.6
51.4
92.0
Furniture, Flooring & Textile Products
19.1
30.5
27.2
25.5
102.3
26.1
23.0
42.5
34.9
126.5
Intersegment Eliminations and Other
-
(.6)
(.3)
.6
(.3)
(3.5)
.5
(.7)
.3
(3.4)
Total
$
99.3
$
126.5
$
138.2
$
122.8
$
486.8
$
78.6
$
22.7
$
150.2
$
156.0
$
407.5
EBIT Margin (EBIT / Trade Sales)
Bedding Products
8.0
%
9.7
%
11.2
%
9.1
%
9.5
%
5.8
%
4.6
%
12.9
%
12.7
%
9.4
%
Specialized Products
13.5
%
15.5
%
16.5
%
18.1
%
15.9
%
11.8
%
(14.0)
%
13.4
%
18.8
%
10.3
%
Furniture, Flooring & Textile Products
5.7
%
8.1
%
7.3
%
7.4
%
7.1
%
8.1
%
7.8
%
11.3
%
9.7
%
9.4
%
Overall
8.6
%
10.4
%
11.2
%
10.7
%
10.2
%
7.5
%
2.7
%
12.4
%
13.2
%
9.5
%
2015
2016
2017
2018
2019
2020
(In millions)
FY
FY
FY
FY
FY
1Q20
2Q20
3Q20
4Q20
FY20
CONSOLIDATED BALANCE SHEETS
Cash and cash equivalents
$
253.2
$
281.9
$
526.1
$
268.1
$
247.6
$
505.8
$
208.8
$
245.0
$
348.9
$
348.9
Total receivables, net
520.2
486.6
595.1
571.6
591.9
568.2
577.3
642.3
563.6
563.6
Total inventories, net
518.7
547.4
613.3
699.5
675.7
692.3
610.9
625.0
691.5
691.5
Prepaid expenses and other current assets
33.2
36.8
74.2
51.0
61.9
52.5
50.1
45.7
54.1
54.1
Current Assets
1,325.3
1,352.7
1,808.7
1,590.2
1,577.1
1,818.8
1,447.1
1,558.0
1,658.1
1,658.1
Property, Plant and Equipment - at cost
540.8
565.5
663.9
728.5
830.8
809.5
797.4
785.7
784.8
784.8
Other Assets
1,111.7
1,093.7
1,120.4
1,128.9
2,447.5
2,390.5
2,374.4
2,359.8
2,357.1
2,357.1
Total Assets
$
2,977.8
$
3,011.9
$
3,593.0
$
3,447.6
$
4,855.4
$
5,018.8
$
4,618.9
$
4,703.5
$
4,800.0
$
4,800.0
Accounts payable
$
307.2
$
351.1
$
430.3
$
465.4
$
463.4
$
429.1
$
361.4
$
494.1
$
552.2
$
552.2
Current maturities of long-term debt
3.4
3.6
153.8
1.2
51.1
51.2
51.1
51.1
50.9
50.9
Current portion of operating lease liabilities
-
-
-
-
39.3
39.6
41.8
41.9
42.4
42.4
Accrued expenses and other current liabilities
390.6
351.9
392.1
349.1
374.3
334.8
321.2
360.3
360.5
360.5
Current Liabilities
701.2
706.6
976.2
815.7
928.1
854.7
775.5
947.4
1,006.0
1,006.0
Long-term debt
941.5
956.2
1,097.9
1,167.8
2,066.5
2,415.2
2,083.2
1,909.1
1,849.3
1,849.3
Operating lease liabilities
-
-
-
-
121.6
117.9
128.6
125.3
122.1
122.1
Deferred income taxes and other long-term liabilities
228.7
237.8
296.5
257.3
397.3
364.6
389.2
391.7
397.5
397.5
Equity
1,106.4
1,111.3
1,222.4
1,206.8
1,341.9
1,266.4
1,242.4
1,330.0
1,425.1
1,425.1
Capitalization
2,276.6
2,305.3
2,616.8
2,631.9
3,927.3
4,164.1
3,843.4
3,756.1
3,794.0
3,794.0
Total Liabilities and Equity
$
2,977.8
$
3,011.9
$
3,593.0
$
3,447.6
$
4,855.4
$
5,018.8
$
4,618.9
$
4,703.5
$
4,800.0
$
4,800.0
3
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Leggett & Platt Inc. published this content on 03 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 May 2021 08:02:02 UTC.
Leggett & Platt, Incorporated is a manufacturer that conceives, designs, and produces a range of engineered components and products found in many homes and automobiles. The Companyâs segments include Bedding Products, Specialized Products and Furniture, Flooring & Textile Products. Bedding Products 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. Specialized Products segment supplies lumbar support systems, seat suspension systems, motors and actuators, and control cables used by automotive manufacturers. It also produces 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 segment supplies a range of components for residential and work furniture manufacturers.
Leggett & Platt Incorporated : Retrospectively adjusted Statement of Operations and Segment Earnings Data for the annual and quarterly periods from 2015 through 2020, and retrospectively adjusted Balance Sheet data for the annual periods from 2015 through 2020, and quarterly periods in 2020