XML 76 R65.htm IDEA: XBRL DOCUMENT v3.5.0.2
Financial Statements of Parent Company Guarantor - Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) (Detail) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2016
Jun. 27, 2015
Jun. 30, 2016
Jun. 27, 2015
Condensed Financial Statements, Captions [Line Items]        
Net sales $ 1,733.3 $ 1,661.2 $ 3,308.8 $ 3,136.2
Cost of goods sold 1,134.1 1,095.0 2,174.2 2,059.8
Gross profit 599.2 566.2 1,134.6 1,076.4
Selling, general and administrative 348.4 319.3 680.0 628.5
Research and development 33.9 29.0 67.1 58.8
Operating Income (Loss) 216.9 217.9 387.5 389.1
Other (income) expense:        
Equity income of unconsolidated subsidiaries (1.0) (0.6) (1.9) (1.1)
Net interest expense 35.5 18.6 71.9 36.8
Income from continuing operations before income taxes 182.4 199.9 317.5 353.4
Provision for income taxes 39.6 46.0 67.3 81.3
Net Income (Loss) from Continuing Operations 142.8 153.9 250.2 272.1
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent 0.0 1.3 0.0 5.6
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax 0.0 4.8 0.0 4.8
Net income (loss) attributable to Pentair plc 142.8 147.8 250.2 261.7
Comprehensive income (loss), net of tax        
Net income 142.8 147.8 250.2 261.7
Changes in cumulative translation adjustment 25.8 (21.6) (2.2) 152.6
Changes in market value of derivative financial instruments 10.9 (0.8) (3.8) (0.9)
Comprehensive income (loss) attributable to Pentair plc 127.9 168.6 248.6 108.2
Parent Company Guarantor        
Condensed Financial Statements, Captions [Line Items]        
Gross profit 0.0      
Selling, general and administrative 1.1 9.5 9.5 12.7
Research and development     0.0  
Operating Income (Loss) (1.1) (9.5) (9.5) (12.7)
Other (income) expense:        
Net interest expense 0.0 0.0 0.0 0.0
Income from continuing operations before income taxes 142.7 153.8 250.1 271.4
Provision for income taxes (0.1) (0.1) (0.1) (0.7)
Net Income (Loss) from Continuing Operations   153.9   272.1
Net income (loss) attributable to Pentair plc 142.8 147.8 250.2 261.7
Comprehensive income (loss), net of tax        
Net income 142.8 147.8 250.2 261.7
Changes in cumulative translation adjustment 25.8 (21.6) (2.2) 152.6
Changes in market value of derivative financial instruments 10.9 (0.8) (3.8) (0.9)
Comprehensive income (loss) attributable to Pentair plc 127.9 168.6 248.6 108.2
Guarantor Subsidiaries [Member]        
Condensed Financial Statements, Captions [Line Items]        
Gross profit 0.0      
Selling, general and administrative 0.0 0.0 0.0 0.1
Operating Income (Loss) 0.0 0.0 0.0 (0.1)
Other (income) expense:        
Net interest expense 0.0 0.5 0.0 1.3
Income from continuing operations before income taxes 143.8 163.3 259.6 284.1
Provision for income taxes 0.0 0.0 0.0 0.0
Net Income (Loss) from Continuing Operations   163.3   284.1
Net income (loss) attributable to Pentair plc 143.8 157.2 259.6 273.7
Comprehensive income (loss), net of tax        
Net income 143.8 157.2 259.6 273.7
Changes in cumulative translation adjustment 25.8 (21.6) (2.2) 152.6
Changes in market value of derivative financial instruments 10.9 (0.8) (3.8) (0.9)
Comprehensive income (loss) attributable to Pentair plc 128.9 178.0 258.0 120.2
Subsidiary Issuer        
Condensed Financial Statements, Captions [Line Items]        
Gross profit 0.0      
Selling, general and administrative 0.0 0.9 0.9 1.9
Operating Income (Loss) 0.0 (0.9) (0.9) (1.9)
Other (income) expense:        
Net interest expense 28.8 0.4 56.2 3.9
Income from continuing operations before income taxes 143.8 160.4 259.6 274.4
Provision for income taxes 0.0 0.0 0.0 0.0
Net Income (Loss) from Continuing Operations   160.4   274.4
Net income (loss) attributable to Pentair plc 143.8 154.3 259.6 264.0
Comprehensive income (loss), net of tax        
Net income 143.8 154.3 259.6 264.0
Changes in cumulative translation adjustment 25.8 (21.6) (2.2) 152.6
Changes in market value of derivative financial instruments 10.9 (0.8) (3.8) (0.9)
Comprehensive income (loss) attributable to Pentair plc 128.9 175.1 258.0 110.5
Non-Guarantor Subsidiaries        
Condensed Financial Statements, Captions [Line Items]        
Net sales 1,733.3 1,661.2 3,308.8 3,136.2
Cost of goods sold 1,134.1 1,095.0 2,174.2 2,059.8
Gross profit 599.2 566.2 1,134.6 1,076.4
Selling, general and administrative 347.3 308.9 669.6 613.8
Research and development 33.9 29.0 67.1 58.8
Operating Income (Loss) 218.0 228.3 397.9 403.8
Other (income) expense:        
Equity income of unconsolidated subsidiaries (1.0) (0.6) (1.9) (1.1)
Net interest expense 6.7 17.7 15.7 31.6
Income from continuing operations before income taxes 212.3 211.2 384.1 373.3
Provision for income taxes 39.7 46.1 67.4 82.0
Net Income (Loss) from Continuing Operations   165.1   291.3
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent   1.3   5.6
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax   4.8   4.8
Net income (loss) attributable to Pentair plc 172.6 159.0 316.7 280.9
Comprehensive income (loss), net of tax        
Net income 172.6 159.0 316.7 280.9
Changes in cumulative translation adjustment 25.8 (21.6) (2.2) 152.6
Changes in market value of derivative financial instruments 10.9 (0.8) (3.8) (0.9)
Comprehensive income (loss) attributable to Pentair plc 157.7 179.8 315.1 127.4
Eliminations        
Condensed Financial Statements, Captions [Line Items]        
Gross profit 0.0      
Other (income) expense:        
Income from continuing operations before income taxes (460.2) (488.8) (835.9) (849.8)
Net Income (Loss) from Continuing Operations   (488.8)   (849.8)
Net income (loss) attributable to Pentair plc (460.2) (470.5) (835.9) (818.6)
Comprehensive income (loss), net of tax        
Net income (460.2) (470.5) (835.9) (818.6)
Changes in cumulative translation adjustment (77.4) 64.8 6.6 (457.8)
Changes in market value of derivative financial instruments (32.7) 2.4 11.4 2.7
Comprehensive income (loss) attributable to Pentair plc (415.5) (532.9) (831.1) (358.1)
Discontinued Operations [Member] | Parent Company Guarantor        
Condensed Financial Statements, Captions [Line Items]        
Loss (earnings) from investment in subsidiaries   6.1   10.4
Discontinued Operations [Member] | Guarantor Subsidiaries [Member]        
Condensed Financial Statements, Captions [Line Items]        
Loss (earnings) from investment in subsidiaries   6.1   10.4
Discontinued Operations [Member] | Subsidiary Issuer        
Condensed Financial Statements, Captions [Line Items]        
Loss (earnings) from investment in subsidiaries   6.1   10.4
Discontinued Operations [Member] | Eliminations        
Condensed Financial Statements, Captions [Line Items]        
Loss (earnings) from investment in subsidiaries   (18.3)   (31.2)
Continuing Operations [Member] | Parent Company Guarantor        
Condensed Financial Statements, Captions [Line Items]        
Loss (earnings) from investment in subsidiaries 143.8 163.3 259.6 284.1
Continuing Operations [Member] | Guarantor Subsidiaries [Member]        
Condensed Financial Statements, Captions [Line Items]        
Loss (earnings) from investment in subsidiaries 143.8 163.8 259.6 285.5
Continuing Operations [Member] | Subsidiary Issuer        
Condensed Financial Statements, Captions [Line Items]        
Loss (earnings) from investment in subsidiaries 172.6 161.7 316.7 280.2
Continuing Operations [Member] | Eliminations        
Condensed Financial Statements, Captions [Line Items]        
Loss (earnings) from investment in subsidiaries $ (460.2) $ (488.8) $ (835.9) $ (849.8)