XML 74 R63.htm IDEA: XBRL DOCUMENT v3.8.0.1
Financial Statements of Parent Company Guarantor - Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) (Detail) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2017
Sep. 30, 2016
Sep. 30, 2017
Sep. 30, 2016
Condensed Financial Statements, Captions [Line Items]        
Net sales $ 1,226.8 $ 1,210.7 $ 3,675.6 $ 3,701.9
Cost of goods sold 771.5 769.8 2,314.8 2,347.9
Gross profit 455.3 440.9 1,360.8 1,354.0
Selling, general and administrative 234.7 228.4 730.3 728.2
Research and development 28.4 29.7 87.1 86.9
Operating Income (Loss) 192.2 182.8 543.4 538.9
Loss (earnings) from continuing operations of investment in subsidiaries 0.0 0.0 0.0 0.0
Other (income) expense:        
Equity income of unconsolidated subsidiaries (0.3) (1.2) (0.9) (2.7)
Loss on sale of business 3.8 0.0 3.8 0.0
Loss on early extinguishment of debt 0.0 0.0 101.4 0.0
Net interest expense 13.9 34.3 74.2 105.9
Income from continuing operations before income taxes 174.8 149.7 364.9 435.7
Provision for income taxes 47.7 32.2 88.8 93.7
Net Income (Loss) from Continuing Operations 127.1 117.5 276.1 342.0
Income from discontinued operations, net of tax 0.0 22.9 1.9 48.6
(Loss) gain from sale of discontinued operations, net of tax (1.7) 0.6 198.9 0.6
Discontinued Operation, Income (Loss) from Investment in Subsidiaries 0.0 0.0 0.0 0.0
Comprehensive income, net of tax        
Net income 125.4 141.0 476.9 391.2
Changes in cumulative translation adjustment (34.5) (34.9) (502.8) (37.1)
Changes in market value of derivative financial instruments (3.0) (4.8) (2.3) (8.6)
Comprehensive income (loss) attributable to Pentair plc 156.9 171.1 977.4 419.7
Parent Company Guarantor        
Condensed Financial Statements, Captions [Line Items]        
Net sales 0.0 0.0 0.0 0.0
Cost of goods sold 0.0 0.0 0.0 0.0
Gross profit 0.0 0.0 0.0 0.0
Selling, general and administrative 4.2 0.0 0.5 1.7
Research and development 0.0 0.0 0.0 0.0
Operating Income (Loss) (4.2) 0.0 (0.5) (1.7)
Loss (earnings) from continuing operations of investment in subsidiaries (130.9) (117.5) (276.2) (343.6)
Other (income) expense:        
Equity income of unconsolidated subsidiaries 0.0 0.0 0.0 0.0
Loss on sale of business 0.0   0.0  
Loss on early extinguishment of debt     0.0  
Net interest expense 0.0 0.0 0.0 0.0
Income from continuing operations before income taxes 126.7 117.5 275.7 341.9
Provision for income taxes (0.4) 0.0 (0.4) (0.1)
Net Income (Loss) from Continuing Operations 127.1 117.5 276.1 342.0
Income from discontinued operations, net of tax   0.0 0.0 0.0
(Loss) gain from sale of discontinued operations, net of tax 0.0   0.0  
Discontinued Operation, Income (Loss) from Investment in Subsidiaries (1.7) 23.5 200.8 49.2
Comprehensive income, net of tax        
Net income 125.4 141.0 476.9 391.2
Changes in cumulative translation adjustment (34.5) (34.9) (502.8) (37.1)
Changes in market value of derivative financial instruments (3.0) (4.8) (2.3) (8.6)
Comprehensive income (loss) attributable to Pentair plc 156.9 171.1 977.4 419.7
Guarantor Subsidiaries [Member]        
Condensed Financial Statements, Captions [Line Items]        
Net sales 0.0 0.0 0.0 0.0
Cost of goods sold 0.0 0.0 0.0 0.0
Gross profit 0.0 0.0 0.0 0.0
Selling, general and administrative 0.0 0.0 0.2 0.0
Research and development 0.0 0.0 0.0 0.0
Operating Income (Loss) 0.0 0.0 (0.2) 0.0
Loss (earnings) from continuing operations of investment in subsidiaries (130.7) (117.5) (276.1) (343.6)
Other (income) expense:        
Equity income of unconsolidated subsidiaries 0.0 0.0 0.0 0.0
Loss on sale of business 0.0   0.0  
Loss on early extinguishment of debt     0.0  
Net interest expense (0.2) 0.0 (0.3) 0.0
Income from continuing operations before income taxes 130.9 117.5 276.2 343.6
Provision for income taxes 0.0 0.0 0.0 0.0
Net Income (Loss) from Continuing Operations 130.9 117.5 276.2 343.6
Income from discontinued operations, net of tax   0.0 0.0 0.0
(Loss) gain from sale of discontinued operations, net of tax 0.0   0.0  
Discontinued Operation, Income (Loss) from Investment in Subsidiaries (1.7) 23.5 200.8 49.2
Comprehensive income, net of tax        
Net income 129.2 141.0 477.0 392.8
Changes in cumulative translation adjustment (34.5) (34.9) (502.8) (37.1)
Changes in market value of derivative financial instruments (3.0) (4.8) (2.3) (8.6)
Comprehensive income (loss) attributable to Pentair plc 160.7 171.1 977.5 421.3
Subsidiary Issuer        
Condensed Financial Statements, Captions [Line Items]        
Net sales 0.0 0.0 0.0 0.0
Cost of goods sold 0.0 0.0 0.0 0.0
Gross profit 0.0 0.0 0.0 0.0
Selling, general and administrative 0.0 0.3 0.3 1.3
Research and development 0.0 0.0 0.0 0.0
Operating Income (Loss) 0.0 (0.3) (0.3) (1.3)
Loss (earnings) from continuing operations of investment in subsidiaries (115.3) (145.6) (427.5) (428.8)
Other (income) expense:        
Equity income of unconsolidated subsidiaries 0.0 0.0 0.0 0.0
Loss on sale of business 0.0   0.0  
Loss on early extinguishment of debt     91.0  
Net interest expense 10.3 27.8 60.6 83.9
Income from continuing operations before income taxes 105.0 117.5 275.6 343.6
Provision for income taxes 0.0 0.0 0.0 0.0
Net Income (Loss) from Continuing Operations 105.0 117.5 275.6 343.6
Income from discontinued operations, net of tax   0.0 0.0 0.0
(Loss) gain from sale of discontinued operations, net of tax 0.0   0.0  
Discontinued Operation, Income (Loss) from Investment in Subsidiaries (1.7) 23.5 200.8 49.2
Comprehensive income, net of tax        
Net income 103.3 141.0 476.4 392.8
Changes in cumulative translation adjustment (34.5) (34.9) (502.8) (37.1)
Changes in market value of derivative financial instruments (3.0) (4.8) (2.3) (8.6)
Comprehensive income (loss) attributable to Pentair plc 134.8 171.1 976.9 421.3
Non-Guarantor Subsidiaries        
Condensed Financial Statements, Captions [Line Items]        
Net sales 1,226.8 1,210.7 3,675.6 3,701.9
Cost of goods sold 771.5 769.8 2,314.8 2,347.9
Gross profit 455.3 440.9 1,360.8 1,354.0
Selling, general and administrative 230.5 228.1 729.3 725.2
Research and development 28.4 29.7 87.1 86.9
Operating Income (Loss) 196.4 183.1 544.4 541.9
Loss (earnings) from continuing operations of investment in subsidiaries 0.0 0.0 0.0 0.0
Other (income) expense:        
Equity income of unconsolidated subsidiaries (0.3) (1.2) (0.9) (2.7)
Loss on sale of business 3.8   3.8  
Loss on early extinguishment of debt     10.4  
Net interest expense 3.8 6.5 13.9 22.0
Income from continuing operations before income taxes 189.1 177.8 517.2 522.6
Provision for income taxes 48.1 32.2 89.2 93.8
Net Income (Loss) from Continuing Operations 141.0 145.6 428.0 428.8
Income from discontinued operations, net of tax   22.9 1.9 48.6
(Loss) gain from sale of discontinued operations, net of tax (1.7) 0.6 198.9 0.6
Discontinued Operation, Income (Loss) from Investment in Subsidiaries 0.0 0.0 0.0 0.0
Comprehensive income, net of tax        
Net income 139.3 169.1 628.8 478.0
Changes in cumulative translation adjustment (34.5) (34.9) (502.8) (37.1)
Changes in market value of derivative financial instruments (3.0) (4.8) (2.3) (8.6)
Comprehensive income (loss) attributable to Pentair plc 170.8 199.2 1,129.3 506.5
Consolidation, Eliminations [Member]        
Condensed Financial Statements, Captions [Line Items]        
Net sales 0.0 0.0 0.0 0.0
Cost of goods sold 0.0 0.0 0.0 0.0
Gross profit 0.0 0.0 0.0 0.0
Selling, general and administrative 0.0 0.0 0.0 0.0
Research and development 0.0 0.0 0.0 0.0
Operating Income (Loss) 0.0   0.0 0.0
Loss (earnings) from continuing operations of investment in subsidiaries 376.9 380.6 979.8 1,116.0
Other (income) expense:        
Equity income of unconsolidated subsidiaries 0.0 0.0 0.0 0.0
Loss on sale of business 0.0   0.0  
Loss on early extinguishment of debt     0.0  
Net interest expense 0.0 0.0 0.0 0.0
Income from continuing operations before income taxes (376.9) (380.6) (979.8) (1,116.0)
Provision for income taxes 0.0 0.0 0.0 0.0
Net Income (Loss) from Continuing Operations (376.9) (380.6) (979.8) (1,116.0)
Income from discontinued operations, net of tax   0.0 0.0 0.0
(Loss) gain from sale of discontinued operations, net of tax 0.0   0.0  
Discontinued Operation, Income (Loss) from Investment in Subsidiaries 5.1 (70.5) (602.4) (147.6)
Comprehensive income, net of tax        
Net income (371.8) (451.1) (1,582.2) (1,263.6)
Changes in cumulative translation adjustment 103.5 104.7 1,508.4 111.3
Changes in market value of derivative financial instruments 9.0 14.4 6.9 25.8
Comprehensive income (loss) attributable to Pentair plc $ (466.3) $ (541.4) $ (3,083.7) $ (1,349.1)