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Proposed Spin Off Transaction (Notes)
3 Months Ended
Mar. 31, 2013
Proposed Spin Off Transaction [Abstract]  
Proposed Spin Off Transaction [Text Block]
Proposed Spin-Off Transaction
In December 2012, the Company's Board of Directors announced a plan to spin off the commercial and residential security businesses (the New Security Company). The separation will result in two standalone companies: Ingersoll-Rand plc; and the New Security Company, a leading global provider of electronic and mechanical security products and services, delivering comprehensive solutions to commercial and residential customers. This new company’s portfolio of brands will include Schlage, LCN®, Von Duprin®, Steelcraft®, Interflex®, CISA®, Briton®, Bricard®, BOCOM® Systems, Dexter®, Kryptonite®, Falcon® and Fusion® Hardware Group.
The completion of the spin-off is subject to certain customary conditions, including receipt of regulatory approvals, receipt of a ruling from the U.S. Internal Revenue Service as to the tax-free nature of the spin-off, as well as certain other matters relating to the spin-off: receipt of legal opinions, execution of intercompany agreements, effectiveness of appropriate filings with the SEC, and final approval of the transactions contemplated by the spin-off, as may be required under Irish law. There can be no assurance that any separation transaction will ultimately occur, or, if one does occur, its terms or timing. The disclosures and financial statements within these condensed consolidated financial statements include the results of operations, financial position, and cash flows of the commercial and residential security businesses as continuing operations.
Upon completion of the spin-off the New Security Company will become an independent publicly traded company. The New Security Company is anticipated to be an Irish public limited company.
In the first quarter of 2013, the Company incurred $11.0 million of professional service fees related to the proposed spin transaction. These costs are reported in Selling and administrative expenses in the Condensed Consolidated Statement of Comprehensive Income.