Discontinued Operations

3 Months Ended

Mar. 31, 2014

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

The components of Discontinued operations, net of tax for the three months ended March 31 were as follows:

	Three months ended
In millions	2014		2013
Net revenues	$	—	$	473.3
Pre-tax earnings (loss) from operations	$	1.4	$	55.0
Pre-tax gain (loss) on sale	—		—
Tax benefit (expense)	1.5		(15.8		)
Discontinued operations, net of tax	$	2.9	$	39.2

Discontinued operations by business for the three months ended March 31 are as follows:

	Three months ended
In millions	2014			2013
Allegion, net of tax	$	7.0		$	46.2
Other discontinued operations, net of tax	(4.1		)	(7.0		)
Discontinued operations, net of tax *	$	2.9		$	39.2

* Included in Allegion, net of tax for the three months ended March 31, 2013 are spin costs of $11.0 million.

Allegion Spin Off

On December 1, 2013, the Company completed the previously announced separation of its commercial and residential security businesses by distributing the related ordinary shares of Allegion, on a pro rata basis, to the Company's shareholders of record as of November 22, 2013. After the Distribution Date, Allegion became an independent publicly traded company.

The results of the Company's commercial and residential security businesses are presented as a discontinued operation on the Condensed Consolidated Statement of Comprehensive Income and Condensed Consolidated Statement of Cash Flows for all periods presented.

Other Discontinued Operations

Other discontinued operations, net of tax from previously sold businesses is mainly related to postretirement benefits, product liability, worker's compensation, legal costs (mostly asbestos-related), and tax effects of post-closing purchase price adjustments.