{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-24-008057","form_type":"8-K","ticker":"LEG","cik":"0000058492","company_name":"LEGGETT & PLATT INC","filed_at":"2024-01-16T23:59:59+00:00","discovered_at":"2026-05-14T18:03:26.655054+00:00","generated_at":"2026-06-06T23:35:00.890954+00:00","sec_items":["2.02","2.06","2.05","7.01","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Leggett & Platt announces restructuring, $450M impairment, withdraws long-term targets","bullets":["Restructuring plan consolidates 15-20 of 50 Bedding facilities; cuts 900-1,100 jobs; targets $40-50M annualized EBIT by late 2025.","Total restructuring costs $65-85M ($30-40M cash); expects $60-80M from real estate sales; annual sales fall ~$100M.","Non-cash impairment charge of ~$450M in Q4 2023 for Bedding intangibles from prior acquisitions, due to weak demand and customer instability.","Company withdraws long-term financial targets including TSR goal of 11-14%, revenue growth, EBIT margin, and dividend payout ratio.","Restructuring mostly complete by end of 2025; initial benefit expected in H2 2024."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-24-008057","json":"https://secwatch.observer/filing/0001193125-24-008057.json","markdown":"https://secwatch.observer/filing/0001193125-24-008057.md","text":"https://secwatch.observer/filing/0001193125-24-008057.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/58492/000119312524008057/0001193125-24-008057-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/58492/000119312524008057/d132201d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T23:35:00.890954+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"90baea90344787679d3207fb7466e85c2021d01b","claim":"LEGGETT & PLATT INC reported preliminary financial results for the completed fourth quarter and year-end 2023.","evidence_excerpt":"The Company is not otherwise updating guidance for, or reporting upon, its 2023 year-end financial results. These financial results will be released on February 8, 2024.","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/58492/000119312524008057/0001193125-24-008057-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the completed fourth quarter and year-end 2023"},{"label":"Result","value":"preliminary results"}],"fact_type":"earnings_release"},{"claim_id":"27748c92ca2b455dd3a8ee75d2ef74aa3506397c","claim":"LEGGETT & PLATT INC announced a impairment with charges of approximately $450 million affecting Bedding Products segment.","evidence_excerpt":"we concluded, on January 12, 2024 that the Company will record an estimated pre-tax impairment charge of approximately $450 million related to long-lived assets (primarily the intangibles).","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/58492/000119312524008057/0001193125-24-008057-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"impairment"},{"label":"Charge","value":"approximately $450 million"},{"label":"Affected area","value":"Bedding Products segment"}],"fact_type":"restructuring_charge"},{"claim_id":"7b2d9990eb9a2b3b5ff7b4e27fe7e9d565de0a54","claim":"LEGGETT & PLATT INC announced a restructuring with charges of $65 to $85 million affecting Bedding Products segment (900 to 1,100).","evidence_excerpt":"Plan. These transactions are expected to be largely complete by the end of 2025. In aggregate, we expect to incur restructuring and restructuring-related costs between $65 and $85 million, of which approximately half are anticipated to be incurred in 2024 and the remainder in 2025. This includes $30 to $40 million in cash costs, the majority of","evidence_source":"SEC 8-K Item 2.05/2.06","evidence_url":"https://www.sec.gov/Archives/edgar/data/58492/000119312524008057/0001193125-24-008057-index.htm","confidence":0.9,"family_label":"Restructurings & Charges","details":[{"label":"Type","value":"restructuring"},{"label":"Charge","value":"$65 to $85 million"},{"label":"Affected area","value":"Bedding Products segment"},{"label":"Headcount","value":"900 to 1,100"}],"fact_type":"restructuring_charge"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}