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Condensed Consolidated Statements of Income (USD $)
In Thousands, except Per Share data
3 Months Ended 6 Months Ended
Jul. 02, 2011
Jul. 03, 2010
Jul. 02, 2011
Jul. 03, 2010
Net sales $ 910,175 $ 796,167 $ 1,700,448 $ 1,503,180
Cost of goods sold 622,439 547,999 1,163,653 1,041,310
Gross profit 287,736 248,168 536,795 461,870
Selling, general and administrative 158,432 131,043 303,192 263,933
Research and development 19,882 16,999 38,004 34,210
Operating (loss) income 109,422 100,126 195,599 163,727
Other (income) expense:        
Equity (income) losses of unconsolidated subsidiaries (672) (1,375) (907) (1,459)
Net interest (income) expense 14,613 8,569 23,938 18,096
Income (loss) from continuing operations before income taxes and noncontrolling interest 95,481 92,932 172,568 147,090
Provision for income taxes 27,344 31,320 52,397 49,449
Income from continuing operations 68,137 61,612 120,171 97,641
Gain on disposal of discontinued operations, net of tax   593   1,117
Net income before noncontrolling interest 68,137 62,205 120,171 98,758
Noncontrolling interest 1,425 1,124 2,918 2,356
Net income attributable to Pentair, Inc. 66,712 61,081 117,253 96,402
Net income from continuing operations attributable to Pentair, Inc. $ 66,712 $ 60,488 $ 117,253 $ 95,285
Basic        
Continuing operations $ 0.68 $ 0.61 $ 1.19 $ 0.96
Discontinued operations   $ 0.01   $ 0.01
Basic earnings per common share $ 0.68 $ 0.62 $ 1.19 $ 0.97
Diluted        
Continuing operations $ 0.67 $ 0.61 $ 1.17 $ 0.96
Discontinued operations       $ 0.01
Diluted earnings per common share $ 0.67 $ 0.61 $ 1.17 $ 0.97
Weighted average common shares outstanding        
Basic 98,333 98,208 98,190 98,081
Diluted 100,065 99,638 99,825 99,435
Cash dividends declared per common share $ 0.20 $ 0.19 $ 0.40 $ 0.38