Guarantor Financial Information

12 Months Ended

Dec. 31, 2014

Guarantor Financial Information Abstract

Condensed Financial Information of Parent Company Only Disclosure [Text Block]

GUARANTOR FINANCIAL INFORMATION

Ingersoll-Rand plc (IR-Ireland), a public limited company incorporated in Ireland in 2009, is the successor to Ingersoll-Rand Company Limited, a Bermuda company (IR-Limited), following a corporate reorganization that became effective on July 1, 2009 (the Ireland Reorganization). IR-Limited is the successor to Ingersoll-Rand Company, a New Jersey corporation (IR-New Jersey), following a corporate reorganization that occurred on December 31, 2001 (the Bermuda Reorganization).

As part of the Bermuda Reorganization, IR-Limited fully and unconditionally guaranteed all of the issued public debt securities of IR-New Jersey. IR-New Jersey unconditionally guaranteed IR-Limited’s 4.75% Senior Notes due in 2015 in the aggregate principal amount of $300 million. See Note 7 for a discussion of the 2014 financing activities that included the repayment of these 2015 Senior Notes. The guarantee was unsecured and provided on an unsubordinated basis. The guarantee ranked equally in right of payment with all of the existing and future unsecured and unsubordinated debt of IR-New Jersey.

As part of the Ireland Reorganization, IR-Ireland became the ultimate parent company and Ingersoll-Rand International Holding Limited (IR-International) became its stand-alone subsidiary. In addition, (i) IR-International assumed the obligations of IR-Limited as issuer or guarantor, as the case may be, and (ii) IR-Ireland and IR-Limited fully and unconditionally guaranteed the obligations under the various indentures covering the currently outstanding public debt of IR-International, Ingersoll-Rand Global Holding Company Limited (IR-Global), and IR-New Jersey. Also as part of the Ireland Reorganization, IR-Limited transferred all the shares of IR-Global to IR-International in exchange for a note payable that initially approximated $15 billion, which was then immediately reduced by the settlement of net intercompany payables of $4.1 billion. In the fourth quarter of 2013, this note payable was fully repaid by IR-International.

In the fourth quarter of 2013, Class B common shares issued by IR-Limited to IR-New Jersey as part of the Bermuda Reorganization were redeemed. Also in 2013, the public outstanding indentures of IR-Global and IR-International were modified to include IR-New Jersey as a co-obligor.

In the fourth quarter of 2014, the Company issued $1.1 billion of public debt through a newly incorporated, wholly-owned subsidiary, Ingersoll-Rand Luxembourg Finance S.A.. This debt was guaranteed fully and unconditionally by each of the existing guarantors (IR-Ireland, IR-Limited, IR-International and IR-New Jersey) as well as IR-Global. Also in 2014, the public indentures of IR-Global and IR-New Jersey were modified to include IR-Lux as a guarantor.

Our current guarantor structure is as follows:

• IR-Ireland, IR-Limited, IR-International and IR-Lux fully and unconditionally guarantee the outstanding public debt of IR-Global and IR-New Jersey;

• IR-Ireland, IR-Limited, IR-International, IR-Global and IR-New Jersey fully and unconditionally guarantee the outstanding public debt of IR-Lux;

• IR-Ireland, IR-Limited, IR-International and IR-New Jersey fully and unconditionally guarantee the revolving credit facilities of IR-Global and IR-Lux (as an additional borrower), and each of IR-Global and IR-Lux guarantee any revolving credit facility borrowings of the other;

• IR-Ireland, IR-Limited, IR-International and IR-New Jersey fully and unconditionally guarantee any commercial paper borrowings of IR-Global or IR-Lux, and IR-Global guarantees any such borrowings of IR-Lux;

• IR-New Jersey is a co-obligor of the outstanding public debt issued by IR-Global.

See Note 7 for a further discussion of public debt issuances and related guarantees.

The Condensed Consolidating Financial Statements present the investments of IR-Ireland, IR-Limited, IR-Global, IR-International, IR-New Jersey and IR-Lux and their subsidiaries using the equity method of accounting. Intercompany investments in the non-voting Class B common shares were accounted for on the cost method and are reduced by intercompany dividends. In accordance with generally accepted accounting principles, the amounts related to the issuance of the Class B shares were recorded as a reduction of Total equity. The Notes payable affiliate continues to be reflected on the Condensed Consolidating Balance Sheet of IR-International and is enforceable in accordance with their terms.

The following condensed consolidating financial information for IR-Ireland, IR-Limited, IR-Global, IR-International, IR-New Jersey, IR-Lux, and all their other subsidiaries is included so that separate financial statements of IR-Ireland, IR-Limited, IR-Global, IR-International, IR-New Jersey, and IR-Lux are not required to be filed with the U.S. Securities and Exchange Commission. IR-Ireland's subsidiary debt issuers and guarantors are directly or indirectly 100% owned by IR-Ireland and the guarantees are full and unconditional and joint and several.

As discussed in Note 2, the Company revised its December 31, 2013 and 2012 Consolidated Statements of Cash Flows to correct errors in the calculation of the effect of exchange rate changes on cash and cash equivalents. The revisions impacted only the Other Subsidiaries column of the Condensed Consolidating Statement of Cash Flows for each of the periods noted above. These adjustments were not considered to be material individually or in the aggregate to the previously issued financial statements. The adjustments had no impact on the total net increase (decrease) in cash and cash equivalents, or total cash and cash equivalents amounts in any period.

During the first quarter of 2014 the Company revised its Condensed Consolidating Financial Statements to correct the presentation of certain subsidiaries and tax obligations between the IR-New Jersey and Other Subsidiaries columns of the Condensed Consolidating Balance Sheet as of December 31, 2013 and the Condensed Consolidating Statements of Comprehensive Income and Cash Flows for the year ended December 31, 2013. The changes had no impact on the Consolidated Financial Statements as of and for the year ended December 31, 2013 and were not material to the previously issued Condensed Consolidating Financial Statements.

Condensed Consolidating Statement of Comprehensive Income

For the year ended December 31, 2014

In millions	IR Ireland			IR Limited			IR International			IR Global			IR New Jersey			IR Lux			Other Subsidiaries			Consolidating Adjustments			IR Ireland Consolidated
Net revenues	$	—		$	—		$	—		$	—		$	984.6		$	—		$	11,906.8		$	—		$	12,891.4
Cost of goods sold	—			—			—			—			(619.1		)	—			(8,363.7		)	—			(8,982.8		)
Selling and administrative expenses	(26.1		)	—			—			(0.6		)	(422.4		)	—			(2,054.8		)	—			(2,503.9		)
Operating income (loss)	(26.1		)	—			—			(0.6		)	(56.9		)	—			1,488.3			—			1,404.7
Equity earnings (loss) in affiliates, net of tax	985.9			907.1			927.3			369.2			472.0			50.7			1,271.2			(4,983.4		)	—
Interest expense	—			—			(21.6		)	(127.9		)	(48.9		)	(7.1		)	(19.8		)	—			(225.3		)
Intercompany interest and fees	(18.2		)	(3.5		)	(10.0		)	(2.5		)	(208.4		)	(0.6		)	243.2			—			—
Other, net	(7.9		)	—			3.3			—			116.5			—			(81.9		)	—			30.0
Earnings (loss) before income taxes	933.7			903.6			899.0			238.2			274.3			43.0			2,901.0			(4,983.4		)	1,209.4
Benefit (provision) for income taxes	0.2			(0.1		)	—			44.6			58.5			—			(396.9		)	—			(293.7		)
Earnings (loss) from continuing operations	933.9			903.5			899.0			282.8			332.8			43.0			2,504.1			(4,983.4		)	915.7
Discontinued operations, net of tax	(2.2		)	—			—			—			37.2			—			(0.3		)	—			34.7
Net earnings (loss)	931.7			903.5			899.0			282.8			370.0			43.0			2,503.8			(4,983.4		)	950.4
Less: Net (earnings) loss attributable to noncontrolling interests	—			—			—			—			—			—			(71.5		)	52.8			(18.7		)
Net earnings (loss) attributable to Ingersoll-Rand plc	$	931.7		$	903.5		$	899.0		$	282.8		$	370.0		$	43.0		$	2,432.3		$	(4,930.6	)	$	931.7
Comprehensive income (loss), net of tax	384.1			363.2			900.9			283.4			333.6			42.9			1,916.7			(3,824.2		)	400.6
Less: Comprehensive (income) loss attributable to noncontrolling interests	—			—			—			—			—			—			(69.3		)	52.8			(16.5		)
Comprehensive income (loss) attributable to Ingersoll-Rand plc	$	384.1		$	363.2		$	900.9		$	283.4		$	333.6		$	42.9		$	1,847.4		$	(3,771.4	)	$	384.1

Condensed Consolidating Statement of Comprehensive Income

For the year ended December 31, 2013

In millions	IR Ireland			IR Limited			IR International			IR Global			IR New Jersey			Other Subsidiaries			Consolidating Adjustments			IR Ireland Consolidated
Net revenues	$	—		$	—		$	—		$	—		$	922.1		$	11,428.4		$	—		$	12,350.5
Cost of goods sold	0.7			—			—			—			(564.9		)	(8,158.1		)	—			(8,722.3		)
Selling and administrative expenses	(60.0		)	(0.1		)	—			(1.1		)	(355.9		)	(2,106.1		)	—			(2,523.2		)
Operating income (loss)	(59.3		)	(0.1		)	—			(1.1		)	1.3			1,164.2			—			1,105.0
Equity earnings (loss) in affiliates, net of tax	696.2			696.7			791.0			1,008.0			152.4			743.9			(4,088.2		)	—
Interest expense	—			—			(15.8		)	(196.4		)	(76.2		)	9.6			—			(278.8		)
Intercompany interest and fees	(14.1		)	(0.4		)	(33.8		)	(34.0		)	(13.7		)	96.0			—			—
Other, net	(3.9		)	—			1.6			0.8			137.4			(129.4		)	(3.1		)	3.4
Earnings (loss) before income taxes	618.9			696.2			743.0			777.3			201.2			1,884.3			(4,091.3		)	829.6
Benefit (provision) for income taxes	(0.3		)	—			—			—			(1.3		)	(187.4		)	—			(189.0		)
Earnings (loss) from continuing operations	618.6			696.2			743.0			777.3			199.9			1,696.9			(4,091.3		)	640.6
Discontinued operations, net of tax	0.2			—			—			—			(198.9		)	212.0			—			13.3
Net earnings (loss)	618.8			696.2			743.0			777.3			1.0			1,908.9			(4,091.3		)	653.9
Less: Net (earnings) loss attributable to noncontrolling interests	—			—			—			—			—			(38.1		)	3.0			(35.1		)
Net earnings (loss) attributable to Ingersoll-Rand plc	$	618.8		$	696.2		$	743.0		$	777.3		$	1.0		$	1,870.8		$	(4,088.3	)	$	618.8
Comprehensive income (loss), net of tax	913.5			1,050.3			744.2			789.0			399.6			1,855.2			(4,799.9		)	951.9
Less: Comprehensive (income) loss attributable to noncontrolling interests	—			0.4			—			—			—			(41.8		)	3.0			(38.4		)
Comprehensive income (loss) attributable to Ingersoll-Rand plc	$	913.5		$	1,050.7		$	744.2		$	789.0		$	399.6		$	1,813.4		$	(4,796.9	)	$	913.5

Condensed Consolidating Statement of Comprehensive Income

For the year ended December 31, 2012

In millions	IR Ireland			IR Limited			IR International			IR Global Holding			IR New Jersey			Other Subsidiaries			Consolidating Adjustments			IR Ireland Consolidated
Net revenues	$	—		$	—		$	—		$	—		$	932.7		$	11,055.6		$	—		$	11,988.3
Cost of goods sold	—			—			—			—			(613.7		)	(7,919.8		)	—			(8,533.5		)
Selling and administrative expenses	(14.9		)	(0.3		)	—			(0.6		)	(327.6		)	(2,039.5		)	—			(2,382.9		)
Operating income (loss)	(14.9		)	(0.3		)	—			(0.6		)	(8.6		)	1,096.3			—			1,071.9
Equity earnings (loss) in affiliates, net of tax	1,048.8			848.3			919.1			1,339.9			198.3			979.3			(5,333.7		)	—
Interest expense	—			(0.1		)	(15.8		)	(168.3		)	(50.0		)	(17.8		)	—			(252.0		)
Intercompany interest and fees	(10.5		)	—			(44.3		)	(48.8		)	0.6			103.0			—			—
Other, net	(4.8		)	—			0.7			(200.6		)	53.9			1.2			177.7			28.1
Earnings (loss) before income taxes	1,018.6			847.9			859.7			921.6			194.2			2,162.0			(5,156.0		)	848.0
Benefit (provision) for income taxes	(0.3		)	—			—			—			(56.2		)	0.5			—			(56.0		)
Earnings (loss) from continuing operations	1,018.3			847.9			859.7			921.6			138.0			2,162.5			(5,156.0		)	792.0
Discontinued operations, net of tax	0.3			—			—			—			(18.3		)	270.0			—			252.0
Net earnings (loss)	1,018.6			847.9			859.7			921.6			119.7			2,432.5			(5,156.0		)	1,044.0
Less: Net (earnings) loss attributable to noncontrolling interests	—			—			—			—			—			(48.7		)	23.3			(25.4		)
Net earnings (loss) attributable to Ingersoll-Rand plc	$	1,018.6		$	847.9		$	859.7		$	921.6		$	119.7		$	2,383.8		$	(5,132.7	)	$	1,018.6
Comprehensive income (loss), net of tax	1,051.2			880.6			860.9			922.0			185.4			2,386.0			(5,221.9		)	1,064.2
Less: Comprehensive (income) loss attributable to noncontrolling interests	—			—			—			—			—			(36.3		)	23.3			(13.0		)
Comprehensive income (loss) attributable to Ingersoll-Rand plc	$	1,051.2		$	880.6		$	860.9		$	922.0		$	185.4		$	2,349.7		$	(5,198.6	)	$	1,051.2

Condensed Consolidating Balance Sheet

December 31, 2014

In millions	IR Ireland		IR Limited		IR International		IR Global		IR New Jersey		IR Lux		Other Subsidiaries		Consolidating Adjustments			IR Ireland Consolidated
Current assets:
Cash and cash equivalents	$	—	$	—	$	—	$	—	$	425.4	$	—	$	1,279.8	$	—		$	1,705.2
Accounts and notes receivable, net	—		—		—		—		147.0		—		1,972.0		—			2,119.0
Inventories	—		—		—		—		106.1		—		1,252.8		—			1,358.9
Other current assets	0.1		—		—		31.0		126.9		—		366.8		—			524.8
Accounts and notes receivable affiliates	48.6		309.5		8,227.0		306.0		4,788.2		50.7		21,832.6		(35,562.6		)	—
Total current assets	48.7		309.5		8,227.0		337.0		5,593.6		50.7		26,704.0		(35,562.6		)	5,707.9
Investment in affiliates	9,738.8		12,913.2		4,011.0		9,333.0		15,028.4		1,699.9		8,645.5		(61,369.8		)	—
Property, plant and equipment, net	—		—		—		—		324.7		—		1,152.3		—			1,477.0
Goodwill and other intangible assets, net	—		—		—		—		66.6		—		9,107.1		—			9,173.7
Other noncurrent assets	0.2		—		—		176.7		731.7		9.6		595.4		(573.7		)	939.9
Total assets	$	9,787.7	$	13,222.7	$	12,238.0	$	9,846.7	$	21,745.0	$	1,760.2	$	46,204.3	$	(97,506.1	)	$	17,298.5
Current liabilities:
Accounts payable and accruals	$	7.9	$	—	$	—	$	26.6	$	495.8	$	8.1	$	2,645.0	$	—		$	3,183.4
Short-term borrowings and current maturities of long-term debt	—		—		—		—		350.5		100.0		32.2		—			482.7
Accounts and notes payable affiliates	3,792.4		749.2		966.4		441.3		14,779.8		514.1		14,319.5		(35,562.7		)	—
Total current liabilities	3,800.3		749.2		966.4		467.9		15,626.1		622.2		16,996.7		(35,562.7		)	3,666.1
Long-term debt	—		—		—		2,296.1		349.6		1,095.1		0.9		—			3,741.7
Other noncurrent liabilities	—		—		3.8		2.7		1,471.6		—		2,940.9		(573.7		)	3,845.3
Total liabilities	3,800.3		749.2		970.2		2,766.7		17,447.3		1,717.3		19,938.5		(36,136.4		)	11,253.1
Equity:
Total equity	5,987.4		12,473.5		11,267.8		7,080.0		4,297.7		42.9		26,265.8		(61,369.7		)	6,045.4
Total liabilities and equity	$	9,787.7	$	13,222.7	$	12,238.0	$	9,846.7	$	21,745.0	$	1,760.2	$	46,204.3	$	(97,506.1	)	$	17,298.5

Condensed Consolidating Balance Sheet

December 31, 2013

In millions	IR Ireland		IR Limited			IR International		IR Global		IR New Jersey		Other Subsidiaries		Consolidating Adjustments			IR Ireland Consolidated
Current assets:
Cash and cash equivalents	$	—	$	—		$	—	$	975.3	$	59.6	$	902.3	$	—		$	1,937.2
Accounts and notes receivable, net	—		—			—		—		149.4		1,922.1		—			2,071.5
Inventories	—		—			—		—		70.5		1,095.6		—			1,166.1
Other current assets	0.1		—			—		0.2		127.6		414.0		—			541.9
Accounts and notes receivable affiliates	1,086.9		309.6			2.3		1,496.6		11,683.7		27,616.6		(42,195.7		)	—
Total current assets	1,087.0		309.6			2.3		2,472.1		12,090.8		31,950.6		(42,195.7		)	5,716.7
Investment in affiliates	8,697.8		13,696.0			11,339.0		7,144.5		15,923.4		42,714.1		(99,514.8		)	—
Property, plant and equipment, net	—		—			—		—		293.3		1,175.1		—			1,468.4
Goodwill and other intangible assets, net	—		—			—		—		85.7		9,376.9		—			9,462.6
Other noncurrent assets	—		(4.3		)	0.3		18.8		298.2		697.4		—			1,010.4
Total assets	$	9,784.8	$	14,001.3		$	11,341.6	$	9,635.4	$	28,691.4	$	85,914.1	$	(141,710.5	)	$	17,658.1
Current liabilities:
Accounts payable and accruals	$	30.6	$	—		$	12.1	$	27.5	$	440.8	$	2,529.9	$	—		$	3,040.9
Short-term borrowings and current maturities of long-term debt	—		—			—		—		350.5		17.2		—			367.7
Accounts and notes payable affiliates	2,685.3		3,780.6			4,803.3		5,982.2		16,217.4		8,809.0		(42,277.8		)	—
Total current liabilities	2,715.9		3,780.6			4,815.4		6,009.7		17,008.7		11,356.1		(42,277.8		)	3,408.6
Long-term debt	—		—			299.8		2,295.7		357.2		200.8		—			3,153.5
Note payable affiliate	—		—			—		—		—		—		—			—
Other noncurrent liabilities	—		—			3.8		—		877.3		3,083.6		—			3,964.7
Total liabilities	2,715.9		3,780.6			5,119.0		8,305.4		18,243.2		14,640.5		(42,277.8		)	10,526.8
Equity:
Total equity	7,068.9		10,220.7			6,222.6		1,330.0		10,448.2		71,273.6		(99,432.7		)	7,131.3
Total liabilities and equity	$	9,784.8	$	14,001.3		$	11,341.6	$	9,635.4	$	28,691.4	$	85,914.1	$	(141,710.5	)	$	17,658.1

Condensed Consolidating Statement of Cash Flows

For the year ended December 31, 2014

In millions	IR Ireland			IR Limited		IR International			IR Global			IR New Jersey			IR Lux			Other Subsidiaries			Consolidating Adjustments			IR Ireland Consolidated
Net cash provided by (used in) continuing operating activities	$	(34.0	)	$	—	$	(18.3	)	$	(128.5	)	$	173.4		$	(7.1	)	$	2,058.5		$	(1,052.3	)	$	991.7
Net cash provided by (used in) discontinued operating activities	(2.2		)	—		—			—			(2.4		)	—			(13.9		)	—			(18.5		)
Net cash provided by (used in) operating activities	(36.2		)	—		(18.3		)	(128.5		)	171.0			(7.1		)	2,044.6			(1,052.3		)	973.2
Cash flows from investing activities:															—									—
Capital expenditures	—			—		—			—			(87.7		)	—			(145.8		)	—			(233.5		)
Acquisition of businesses, net of cash acquired	—			—		—			—			—			—			(10.2		)	—			(10.2		)
Proceeds from sale of property, plant and equipment	—			—		—			—			1.3			—			13.1			—			14.4
Proceeds from business disposition, net of cash sold	—			—		—			—			—			—			2.0			—			2.0
Dividends received from equity investments	—			—		—			—			—			—			30.3			—			30.3
Net cash provided by (used in) continuing investing activities	—			—		—			—			(86.4		)	—			(110.6		)	—			(197.0		)
Net cash provided by (used in) discontinued investing activities	—			—		—			—			—			—			—			—			—
Net cash provided by (used in) investing activities	—			—		—			—			(86.4		)	—			(110.6		)	—			(197.0		)
Cash flows from financing activities:															—									—
Net proceeds (repayments) in debt	—			—		(300.0		)	—			(7.6		)	1,195.1			(187.3		)	—			700.2
Debt issuance costs	—			—		—			(2.5		)	—			(9.8		)	—			—			(12.3		)
Net inter-company proceeds (payments)	1,562.7			—		318.3			(844.3		)	1,022.9			(1,178.2		)	(881.4		)	—			—
Dividends paid to ordinary shareholders	(264.7		)	—		—			—			(734.1		)	—			(318.2		)	1,052.3			(264.7		)
Dividends paid to noncontrolling interests	—			—		—			—			—			—			(20.9		)	—			(20.9		)
Proceeds from shares issued under incentive plans	113.1			—		—			—			—			—			—			—			113.1
Repurchase of ordinary shares	(1,374.9		)	—		—			—			—			—			—			—			(1,374.9		)
Net cash provided by (used in) continuing financing activities	36.2			—		18.3			(846.8		)	281.2			7.1			(1,407.8		)	1,052.3			(859.5		)
Net cash provided by (used in) discontinued financing activities	—			—		—			—			—			—			—			—			—
Net cash provided by (used in) financing activities	36.2			—		18.3			(846.8		)	281.2			7.1			(1,407.8		)	1,052.3			(859.5		)
Effect of exchange rate changes on cash and cash equivalents	—			—		—			—			—			—			(148.7		)	—			(148.7		)
Net increase (decrease) in cash and cash equivalents	—			—		—			(975.3		)	365.8			—			377.5			—			(232.0		)
Cash and cash equivalents - beginning of period	—			—		—			975.3			59.6			—			902.3			—			1,937.2
Cash and cash equivalents - end of period	$	—		$	—	$	—		$	—		$	425.4		$	—		$	1,279.8		$	—		$	1,705.2

Condensed Consolidating Statement of Cash Flows

For the year ended December 31, 2013

In millions	IR Ireland			IR Limited			IR International			IR Global			IR New Jersey			Other Subsidiaries			Consolidating Adjustments			IR Ireland Consolidated
Net cash provided by (used in) continuing operating activities	$	(63.2	)	$	(0.1	)	$	(14.2	)	$	(196.7	)	$	(170.5	)	$	4,483.5		$	(3,240.0	)	$	798.8
Net cash provided by (used in) discontinued operating activities	—			—			—			—			(112.2		)	404.9			—			292.7
Net cash provided by (used in) operating activities	(63.2		)	(0.1		)	(14.2		)	(196.7		)	(282.7		)	4,888.4			(3,240.0		)	1,091.5
Cash flows from investing activities:
Capital expenditures	—			—			—			—			(80.1		)	(162.1		)	—			(242.2		)
Proceeds from sale of property, plant and equipment	—			—			—			—			1.9			22.4			—			24.3
Proceeds from business disposition, net of cash sold	—			—			—			—			—			4.7			—			4.7
Net cash provided by (used in) continuing investing activities	—			—			—			—			(78.2		)	(135.0		)	—			(213.2		)
Net cash provided by (used in) discontinued investing activities	—			—			—			—			—			(2.2		)	—			(2.2		)
Net cash provided by (used in) investing activities	—			—			—			—			(78.2		)	(137.2		)	—			(215.4		)
Cash flows from financing activities:
Net proceeds (repayments) in debt	—			—			—			291.2			(6.7		)	7.2			—			291.7
Debt issuance costs	—			—			—			(13.2		)	—			—			—			(13.2		)
Net inter-company proceeds (payments)	(24.8		)	1,274.3			699.7			2,106.3			368.1			(4,423.6		)	—			—
Dividends paid to ordinary shareholders	(245.5		)	(1,274.2		)	(685.5		)	(1,274.2		)	—			(1.2		)	3,235.1			(245.5		)
Dividends paid to noncontrolling interests	—			—			—			—			—			(12.4		)	—			(12.4		)
Proceeds from shares issued under incentive plans	272.5			—			—			—			—			—			—			272.5
Repurchase of ordinary shares	(1,213.2		)	—			—			—			—			—			—			(1,213.2		)
Transfer from Allegion	1,274.2			—			—			—			—			—			—			1,274.2
Net cash provided by (used in) continuing financing activities	63.2			0.1			14.2			1,110.1			361.4			(4,430.0		)	3,235.1			354.1
Net cash provided by (used in) discontinued financing activities	—			—			—			—			—			(12.4		)	4.9			(7.5		)
Net cash provided by (used in) financing activities	63.2			0.1			14.2			1,110.1			361.4			(4,442.4		)	3,240.0			346.6
Effect of exchange rate changes on cash and cash equivalents	—			—			—			—			—			6.1			—			6.1
Net increase (decrease) in cash and cash equivalents	—			—			—			913.4			0.5			314.9			—			1,228.8
Cash and cash equivalents - beginning of period	—			—			—			61.9			59.1			587.4			—			708.4
Cash and cash equivalents - end of period	$	—		$	—		$	—		$	975.3		$	59.6		$	902.3		$	—		$	1,937.2

Condensed Consolidating Statement of Cash Flows

For the year ended December 31, 2012

In millions	IR Ireland			IR Limited			IR International			IR Global			IR New Jersey			Other Subsidiaries			Consolidating Adjustments			IR Ireland Consolidated
Net cash provided by (used in) continuing operating activities	$	(19.7	)	$	(0.4	)	$	(15.1	)	$	(570.5	)	$	(103.5	)	$	1,911.2		$	(319.5	)	$	882.5
Net cash provided by (used in) discontinued operating activities	—			—			—			—			(18.3		)	331.2			—			312.9
Net cash provided by (used in) operating activities	(19.7		)	(0.4		)	(15.1		)	(570.5		)	(121.8		)	2,242.4			(319.5		)	1,195.4
Cash flows from investing activities:
Capital expenditures	—			—			—			—			(74.9		)	(168.2		)	—			(243.1		)
Proceeds from sale of property, plant and equipment	—			—			—			—			3.1			14.8			—			17.9
Proceeds from business disposition, net of cash sold	—			—			—			—			—			52.7			—			52.7
Dividends received from equity investments	—			—			—			—			—			44.3			—			44.3
Net cash provided by (used in) continuing investing activities	—			—			—			—			(71.8		)	(56.4		)	—			(128.2		)
Net cash provided by (used in) discontinued investing activities	—			—			—			—			—			(18.3		)	—			(18.3		)
Net cash provided by (used in) investing activities	—			—			—			—			(71.8		)	(74.7		)	—			(146.5		)
Cash flows from financing activities:
Net proceeds (repayments) in debt	—			—			—			(344.5		)	(9.2		)	(59.7		)	—			(413.4		)
Debt issuance costs	—			—			—			(2.5		)	—			—			—			(2.5		)
Net inter-company proceeds (payments)	884.5			0.4			15.1			737.6			184.1			(1,821.7		)	—			—
Dividends paid to ordinary shareholders	(192.4		)	—			—			—			—			(314.0		)	314.0			(192.4		)
Dividends paid to noncontrolling interests	—			—			—			—			—			(13.9		)	—			(13.9		)
Proceeds from shares issued under incentive plans	172.5			—			—			—			—			—			—			172.5
Repurchase of ordinary shares	(839.8		)	—			—			—			—			—			—			(839.8		)
Other, net	(5.1		)	—			—			—			—			(1.1		)	—			(6.2		)
Net cash provided by (used in) continuing financing activities	19.7			0.4			15.1			390.6			174.9			(2,210.4		)	314.0			(1,295.7		)
Net cash provided by (used in) discontinued financing activities	—			—			—			—			—			(13.7		)	5.5			(8.2		)
Net cash provided by (used in) financing activities	19.7			0.4			15.1			390.6			174.9			(2,224.1		)	319.5			(1,303.9		)
Effect of exchange rate changes on cash and cash equivalents	—			—			—			—			—			(23.6		)	—			(23.6		)
Net increase (decrease) in cash and cash equivalents	—			—			—			(179.9		)	(18.7		)	(80.0		)	—			(278.6		)
Cash and cash equivalents - beginning of period	—			—			—			241.8			77.8			667.4			—			987.0
Cash and cash equivalents - end of period	$	—		$	—		$	—		$	61.9		$	59.1		$	587.4		$	—		$	708.4