10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549 

FORM 10-Q

 

(Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE QUARTERLY PERIOD ENDED June 30, 2022

or

 

☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM _____ TO _____.

Commission file number 1-9278

www.carlisle.com

CARLISLE COMPANIES INCORPORATED

(Exact name of registrant as specified in its charter)

Delaware	31-1168055
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

16430 North Scottsdale Road, Suite 400, Scottsdale, Arizona 85254

(Address of principal executive offices, including zip code)

(480) 781-5000

(Registrant's telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, $1 par value	CSL	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. 

Yes ☒ No  ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Yes ☐ No  ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ☐ No ☒

On July 21, 2022, there were 51,724,287 shares of the registrant's common stock, par value $1.00 per share, outstanding.

Carlisle Companies Incorporated

Table of Contents

	Page
PART I—Financial Information
Item 1. Financial Statements	3
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited)	3
Condensed Consolidated Balance Sheets (Unaudited)	4
Condensed Consolidated Statements of Cash Flows (Unaudited)	5
Condensed Consolidated Statements of Stockholders' Equity (Unaudited)	6
Notes to Condensed Consolidated Financial Statements (Unaudited)	8
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations	21
Item 3. Quantitative and Qualitative Disclosure about Market Risk	34
Item 4. Controls and Procedures	34
PART II—Other Information
Item 1. Legal Proceedings	34
Item 1A. Risk Factors	34
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	34
Item 3. Defaults Upon Senior Securities	35
Item 4. Mine Safety Disclosures	35
Item 5. Other Information	35
Item 6. Exhibits	35
Signature	36

2

PART I—Financial Information

Item 1. Financial Statements

Carlisle Companies Incorporated

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited)

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions, except per share amounts)	2022		2021		2022		2021
Revenues	$	1,846.9	$	1,177.8	$	3,343.2	$	2,118.7
Cost of goods sold	1,214.9		870.1		2,220.3		1,566.1
Selling and administrative expenses	210.6		161.3		413.6		312.1
Research and development expenses	12.6		13.8		24.9		24.2
Other operating income, net	(1.8)		(1.2)		(3.5)		(2.2)
Operating income	410.6		133.8		687.9		218.5
Interest expense, net	22.4		19.2		45.0		38.4
Interest income	(0.6)		(0.4)		(0.8)		(0.9)
Other non-operating expense, net	2.5		1.1		2.6		4.7
Income from continuing operations before income taxes	386.3		113.9		641.1		176.3
Provision for income taxes	90.4		19.8		150.9		33.1
Income from continuing operations	295.9		94.1		490.2		143.2
Discontinued operations:
Income before income taxes	4.8		6.3		4.1		10.8
(Benefit from) provision for income taxes	(0.8)		1.1		(0.8)		2.5
Income from discontinued operations	5.6		5.2		4.9		8.3
Net income	$	301.5	$	99.3	$	495.1	$	151.5
Basic earnings per share attributable to common shares:
Income from continuing operations	$	5.70	$	1.79	$	9.41	$	2.71
Income from discontinued operations	0.11		0.10		0.09		0.16
Basic earnings per share	$	5.81	$	1.89	$	9.50	$	2.87
Diluted earnings per share attributable to common shares:
Income from continuing operations	$	5.62	$	1.77	$	9.28	$	2.68
Income from discontinued operations	0.11		0.10		0.09		0.16
Diluted earnings per share	$	5.73	$	1.87	$	9.37	$	2.84
Average shares outstanding:
Basic	51.8		52.3		52.0		52.7
Diluted	52.5		53.0		52.7		53.3
Comprehensive income:
Net income	$	301.5	$	99.3	$	495.1	$	151.5
Other comprehensive income (loss):
Foreign currency (losses) gains	(40.8)		6.8		(37.3)		(6.5)
Amortization of unrecognized net periodic benefit costs, net of tax	1.0		1.2		2.0		2.4
Other, net of tax	(1.0)		0.3		(1.7)		(1.7)
Other comprehensive (loss) income	(40.8)		8.3		(37.0)		(5.8)
Comprehensive income	$	260.7	$	107.6	$	458.1	$	145.7

See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited)

3

Carlisle Companies Incorporated

Condensed Consolidated Balance Sheets (Unaudited)

(in millions, except par values)	June 30, 2022		December 31, 2021
ASSETS
Current assets:
Cash and cash equivalents	$	353.2	$	324.4
Receivables, net of allowance for credit losses of $5.7 million and $5.3 million, respectively	1,179.0		814.6
Inventories, net	780.9		605.1
Contract assets	78.5		72.1
Prepaid expenses	32.2		49.9
Other current assets	108.8		284.8
Total current assets	2,532.6		2,150.9
Property, plant, and equipment, net	785.1		759.9
Goodwill, net	2,201.6		2,199.0
Other intangible assets, net	1,930.4		2,008.7
Other long-term assets	128.0		128.3
Total assets	$	7,577.7	$	7,246.8
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$	549.6	$	432.4
Current portion of debt	352.2		352.0
Accrued and other current liabilities	320.0		351.2
Contract liabilities	37.9		33.9
Total current liabilities	1,259.7		1,169.5
Long-term liabilities:
Long-term debt, less current portion	2,577.7		2,575.4
Contract liabilities	255.8		250.0
Other long-term liabilities	609.4		622.4
Total long-term liabilities	3,442.9		3,447.8
Stockholders' equity:
Preferred stock, $1 par value per share (5.0 shares authorized and unissued)	—		—
Common stock, $1 par value per share (200.0 shares authorized; 51.5 and 52.0 shares outstanding, respectively)	78.7		78.7
Additional paid-in capital	490.9		481.5
Treasury shares, at cost (26.9 and 26.4 shares, respectively)	(2,228.4)		(2,063.2)
Accumulated other comprehensive loss	(142.2)		(105.2)
Retained earnings	4,676.1		4,237.7
Total stockholders' equity	2,875.1		2,629.5
Total liabilities and equity	$	7,577.7	$	7,246.8

See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited)

4

Carlisle Companies Incorporated

Condensed Consolidated Statements of Cash Flows (Unaudited)

	Six Months Ended June 30,
(in millions)	2022		2021
Operating activities:
Net income	$	495.1	$	151.5
Reconciliation of net income to net cash provided by operating activities:
Depreciation	48.0		46.3
Amortization	79.2		60.8
Lease expense	14.2		13.5
Stock-based compensation	15.8		8.7
Deferred taxes	0.4		0.7
Other operating activities, net	3.0		9.5
Changes in assets and liabilities, excluding effects of acquisitions:
Receivables	(372.2)		(190.7)
Inventories	(184.4)		(40.6)
Contract assets	(6.5)		13.7
Prepaid expenses and other assets	33.4		16.3
Accounts payable	121.2		118.3
Accrued and other current liabilities	(7.3)		(20.9)
Contract liabilities	10.4		6.8
Other long-term liabilities	(26.8)		(22.4)
Net cash provided by operating activities	223.5		171.5
Investing activities:
Proceeds from sale of discontinued operation, net of cash disposed	132.0		—
Capital expenditures	(82.7)		(55.1)
Acquisitions, net of cash acquired	(24.7)		—
Investment in securities	10.3		(10.2)
Other investing activities, net	2.0		1.8
Net cash provided by (used in) investing activities	36.9		(63.5)
Financing activities:
Repurchases of common stock	(175.0)		(265.6)
Dividends paid	(56.7)		(56.0)
Proceeds from exercise of stock options	16.0		45.6
Withholding tax paid related to stock-based compensation	(12.5)		(7.7)
Other financing activities, net	(1.7)		(0.8)
Net cash used in financing activities	(229.9)		(284.5)
Effect of foreign currency exchange rate changes on cash and cash equivalents	(1.7)		(0.3)
Change in cash and cash equivalents	28.8		(176.8)
Less: change in cash and cash equivalents of discontinued operations	—		7.0
Cash and cash equivalents at beginning of period	324.4		897.1
Cash and cash equivalents at end of period	$	353.2	$	713.3

See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited)

5

Carlisle Companies Incorporated

Condensed Consolidated Statements of Stockholders’ Equity (Unaudited)

	Common Stock			Additional Paid-In Capital		Accumulated Other Comprehensive Income (Loss)		Retained Earnings		Shares in Treasury			Total Stockholders' Equity
(in millions, except per share amounts)	Shares	Amount								Shares	Cost
Balance as of March 31, 2021	52.1	$	78.7	$	443.4	$	(111.1)	$	3,952.4	26.3	$	(1,951.6)	$	2,411.8
Net income	—	—		—		—		99.3		—	—		99.3
Other comprehensive income, net of tax	—	—		—		8.3		—		—	—		8.3
Dividends - $0.525 per share	—	—		—		—		(27.5)		—	—		(27.5)
Repurchases of common stock	(0.6)	—		—		—		—		0.6	(115.6)		(115.6)
Issuances and deferrals, net for stock based compensation(1)	0.4	—		16.7		—		—		(0.4)	24.9		41.6
Balance as of June 30, 2021	51.9	$	78.7	$	460.1	$	(102.8)	$	4,024.2	26.5	$	(2,042.3)	$	2,417.9
Balance as of March 31, 2022	51.6	$	78.7	$	483.5	$	(101.4)	$	4,402.6	26.8	$	(2,184.8)	$	2,678.6
Net income	—	—		—		—		301.5		—	—		301.5
Other comprehensive loss, net of tax	—	—		—		(40.8)		—		—	—		(40.8)
Dividends - $0.54 per share	—	—		—		—		(28.0)		—	—		(28.0)
Repurchases of common stock	(0.2)	—		—		—		—		0.2	(50.0)		(50.0)
Issuances and deferrals, net for stock based compensation(1)	0.1	—		7.4		—		—		(0.1)	6.4		13.8
Balance as of June 30, 2022	51.5	$	78.7	$	490.9	$	(142.2)	$	4,676.1	26.9	$	(2,228.4)	$	2,875.1

(1)Issuances and deferrals, net for stock-based compensation reflects share activity related to option exercises, restricted and performance shares vested, and net issuances and deferrals associated with deferred compensation equity.

See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited)

6

Carlisle Companies Incorporated

Condensed Consolidated Statements of Stockholders’ Equity (Unaudited)

	Common Stock			Additional Paid-In Capital		Accumulated Other Comprehensive Income (Loss)		Retained Earnings		Shares in Treasury			Total Stockholders' Equity
(in millions, except per share amounts)	Shares	Amount								Shares	Cost
Balance as of December 31, 2020	52.9	$	78.7	$	441.7	$	(97.0)	$	3,928.7	25.5	$	(1,814.4)	$	2,537.7
Net income	—	—		—		—		151.5		—	—		151.5
Other comprehensive loss, net of tax	—	—		—		(5.8)		—		—	—		(5.8)
Dividends - $1.05 per share	—	—		—		—		(56.0)		—	—		(56.0)
Repurchases of common stock	(1.6)	—		—		—		—		1.6	(265.6)		(265.6)
Issuances and deferrals, net for stock-based compensation(1)	0.6	—		18.4		—		—		(0.6)	37.7		56.1
Balance as of June 30, 2021	51.9	$	78.7	$	460.1	$	(102.8)	$	4,024.2	26.5	$	(2,042.3)	$	2,417.9
Balance as of December 31, 2021	52.0	$	78.7	$	481.5	$	(105.2)	$	4,237.7	26.4	$	(2,063.2)	$	2,629.5
Net income	—	—		—		—		495.1		—	—		495.1
Other comprehensive loss, net of tax	—	—		—		(37.0)		—		—	—		(37.0)
Dividends - $1.08 per share	—	—		—		—		(56.7)		—	—		(56.7)
Repurchases of common stock	(0.7)	—		—		—		—		0.7	(175.0)		(175.0)
Issuances and deferrals, net for stock-based compensation(1)	0.2	—		9.4		—		—		(0.2)	9.8		19.2
Balance as of June 30, 2022	51.5	$	78.7	$	490.9	$	(142.2)	$	4,676.1	26.9	$	(2,228.4)	$	2,875.1

(1)Issuances and deferrals, net for stock-based compensation reflects share activity related to option exercises, restricted and performance shares vested, and net issuances and deferrals associated with deferred compensation equity.

See accompanying Notes to Condensed Consolidated Financial Statements (Unaudited)

7

Carlisle Companies Incorporated

Notes to Condensed Consolidated Financial Statements (Unaudited)

Note 1—Basis of Presentation

The accompanying unaudited Condensed Consolidated Financial Statements have been prepared by Carlisle Companies Incorporated (the "Company" or "Carlisle"). The accompanying unaudited Condensed Consolidated Financial Statements do not include all disclosures as required by accounting principles generally accepted in the United States of America ("United States" or "U.S."), and should be read in conjunction with the Company’s audited Consolidated Financial Statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 (the "2021 Annual Report on Form 10-K").

The accompanying unaudited Condensed Consolidated Financial Statements are prepared in conformity with accounting principles generally accepted in the U.S. and, of necessity, include some amounts that are based upon management estimates and judgments. The accompanying unaudited Condensed Consolidated Financial Statements include assets, liabilities, revenues and expenses of all majority-owned subsidiaries. Intercompany transactions and balances are eliminated in consolidation.

In the Company's opinion, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting solely of adjustments of a normal, recurring nature, necessary to present fairly the financial position, results of operations and cash flows for the periods presented.

On February 10, 2022, the Company announced that it had realigned its construction materials businesses into two segments organized around its products and applications for the sustainable building envelope. The two segments are Carlisle Construction Materials and Carlisle Weatherproofing Technologies. No changes have been made to either of the Company’s other two segments – Carlisle Interconnect Technologies or Carlisle Fluid Technologies. The Company has reclassified certain prior periods' amounts to conform with the current presentation by reportable segment in Note 2—Segment Information, Note 6—Revenue Recognition and Note 8—Exit and Disposal Activities as a result of the Company's change in management structure. Additionally, the Company has reclassified certain prior periods' amounts to conform with the current period presentation of the revenues by geographic area tables in Note 6—Revenue Recognition to present Middle East revenues combined with Asia, as opposed to the previous presentation combined with Africa.

Note 2—Segment Information

The Company reports its results of operations through the following four segments, each of which represents a reportable segment as follows:

Carlisle Construction Materials ("CCM")—this segment produces a complete line of premium single-ply roofing products and warranted roof systems and accessories for the commercial building industry, including EPDM, TPO and PVC membrane, polyiso insulation, and engineered metal roofing and wall panel systems for commercial and residential buildings.

Carlisle Weatherproofing Technologies ("CWT")—this segment produces building envelope solutions that effectively drive energy efficiency and sustainability in commercial and residential applications. Products include high-performance waterproofing and moisture protection products, protective roofing underlayments, fully integrated liquid and sheet applied air/vapor barriers, sealants/primers and flashing systems, roof coatings and mastics, spray polyurethane foam and coating systems for a wide variety of thermal protection applications and other premium polyurethane products, block-molded expanded polystyrene insulation, engineered products for HVAC applications, and premium rubber products for a variety of industrial and surfacing applications.

Carlisle Interconnect Technologies ("CIT")—this segment produces high-performance wire and cable, including optical fiber, for the commercial aerospace, military and defense electronics, medical device, industrial, and test and measurement markets. CIT's product portfolio also includes sensors, connectors, contacts, cable assemblies, complex harnesses, racks, trays, and installation kits, in addition to engineering and certification services. CIT also provides medical device products and solutions for several medical technology applications.

Carlisle Fluid Technologies ("CFT")—this segment produces highly engineered liquid, powder, sealants and adhesives finishing equipment and integrated system solutions for spraying, pumping, mixing, metering and curing of a variety of coatings used in the automotive manufacture, general industrial, protective coating, wood, specialty and automotive refinishing markets.

8

A summary of segment information follows:

	Three Months Ended June 30,
	2022				2021
(in millions)	Revenues		Operating Income (Loss)		Revenues		Operating Income (Loss)
Carlisle Construction Materials	$	1,113.4	$	358.9	$	722.8	$	155.0
Carlisle Weatherproofing Technologies	448.9		59.0		214.5		22.4
Carlisle Interconnect Technologies	212.6		7.9		168.9		(12.9)
Carlisle Fluid Technologies	72.0		7.0		71.6		6.6
Segment total	1,846.9		432.8		1,177.8		171.1
Corporate, unallocated and eliminations(1)	—		(22.2)		—		(37.3)
Total	$	1,846.9	$	410.6	$	1,177.8	$	133.8
	Six Months Ended June 30,
	2022				2021
(in millions)	Revenues		Operating Income (Loss)		Revenues		Operating Income (Loss)
Carlisle Construction Materials	$	1,994.5	$	620.0	$	1,279.2	$	265.7
Carlisle Weatherproofing Technologies	808.0		96.5		377.4		33.0
Carlisle Interconnect Technologies	397.6		5.4		324.7		(23.6)
Carlisle Fluid Technologies	143.1		11.8		137.4		10.9
Segment total	3,343.2		733.7		2,118.7		286.0
Corporate and unallocated(1)	—		(45.8)		—		(67.5)
Total	$	3,343.2	$	687.9	$	2,118.7	$	218.5

(1)Corporate operating loss includes other unallocated costs, primarily general corporate expenses.

Note 3—Acquisitions

MBTechnology

On February 1, 2022, the Company acquired 100% of the equity of MBTechnology (“MBTech”), for consideration of $26.3 million, including $1.6 million of cash acquired and post-closing adjustments, which were finalized in the second quarter of 2022. MBTech is a manufacturer of energy-efficient roofing and underlayment systems for residential and commercial applications.

In the three months ended June 30, 2022, and for the period from February 1, 2022 to June 30, 2022, the related product lines contributed revenues of $4.1 million and $6.1 million, respectively. The related product lines contributed operating income of $0.1 million for the period from February 1, 2022 to June 30, 2022. The results of operations of MBTech are reported within the CWT segment.

Consideration of $12.5 million has been allocated to goodwill, none of which is deductible for tax purposes. All of the goodwill was preliminarily assigned to the CCM reporting unit. Consideration of $7.9 million has been allocated to customer relationships, with a useful life of nine years, $3.4 million to plant, property and equipment, $2.8 million to inventory, $0.8 million to accounts receivable and $0.5 million to accounts payable.

ASP Henry Holdings, Inc.

On September 1, 2021, the Company acquired ASP Henry Holdings, Inc. (“Henry”), a provider of building envelope systems for consideration of $1,605.6 million, including $34.3 million of cash acquired and post-closing adjustments, which were finalized in the fourth quarter of 2021. The Company funded the acquisition with borrowings from its Revolving Credit Facility (the "Facility") and cash on hand. The Company subsequently repaid the borrowings from the Facility with proceeds from its September 2021 public offering of $300.0 million in aggregate principal amount of its 0.55% senior notes due in September 2023 and $550.0 million in aggregate principal amount of its 2.20% senior notes due in March 2032 (refer to Note 12).

The Henry amounts included in the pro forma financial information below are based on Henry’s historical results and therefore may not be indicative of the actual results if Henry had been owned by the Company on January 1, 2020. The pro forma adjustments represent management’s best estimates based on information available at the time the pro forma information was prepared and may differ from the adjustments that may have been required had the

9

Company owned Henry on January 1, 2020. Accordingly, pro forma information should not be relied upon as being indicative of the historical results that would have been realized had the acquisition occurred as of January 1, 2020 or the results that may be achieved in the future.

The unaudited combined pro forma financial information presented below includes revenues and income from continuing operations, net of tax, of the Company as if the business combination had occurred on January 1, 2020, based on the purchases price allocation presented below:

	Unaudited Pro Forma
(in millions)	Three Months Ended June 30, 2021		Six Months Ended June 30, 2021
Revenues	$	1,324.3	$	2,378.9
Income from continuing operations	100.5		150.0

The pro forma financial information reflects adjustments to Henry's historical financial information to apply the Company's accounting policies and to reflect the additional depreciation and amortization related to the preliminary fair value adjustments of the acquired net assets of $14.4 million in the three months ended June 30, 2021 and $28.8 million in the six months ended June 30, 2021, together with the associated tax effects.

The following table summarizes the consideration transferred to acquire Henry and the preliminary allocation of the purchase price among the assets acquired and liabilities assumed. The acquisition has been accounted for using the acquisition method of accounting in accordance with Accounting Standards Codification 805, Business Combinations, which requires that consideration be allocated to the acquired assets and assumed liabilities based upon their acquisition date fair values with the remainder allocated to goodwill. The fair values are preliminary and subject to change pending receipt of the final valuation for all acquired assets and liabilities.

	Preliminary Allocation		Measurement Period Adjustments		Preliminary Allocation
(in millions)	As of 9/1/2021				As of 6/30/2022
Total cash consideration transferred	$	1,608.2	$	(2.6)	$	1,605.6
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	34.3		—		34.3
Receivables, net	79.0		—		79.0
Inventories	59.4		(7.9)		51.5
Prepaid expenses and other current assets	10.5		0.2		10.7
Property, plant and equipment	53.6		8.2		61.8
Intangible assets	735.1		445.9		1,181.0
Other long-term assets	3.6		8.3		11.9
Accounts payable	(77.9)		2.2		(75.7)
Accrued and other current liabilities	(28.7)		(0.4)		(29.1)
Short-term debt	(1.0)		—		(1.0)
Contract liabilities	(2.6)		—		(2.6)
Other long-term debt	(0.8)		—		(0.8)
Other long-term liabilities	(5.9)		(9.8)		(15.7)
Deferred income taxes	(153.4)		(107.8)		(261.2)
Total identifiable net assets	705.2		338.9		1,044.1
Goodwill	$	903.0	$	(341.5)	$	561.5

The goodwill recognized in the acquisition of Henry is attributable to its significant supply chain efficiencies, other administrative opportunities and the strategic value of the business to Carlisle, in addition to opportunities for product line expansions. The Company acquired $81.9 million of gross contractual accounts receivable, of which $2.9 million was not expected to be collected at the date of acquisition. Goodwill of $50.9 million is tax deductible in the United States. All of the goodwill was preliminarily assigned to the CCM reporting unit.

10

The preliminary fair value and weighted average useful lives of the acquired intangible assets are as follows:

(in millions)	Fair Value		Weighted Average Useful Life (in years)
Customer relationships	$	914.0	18
Technologies	46.5		11
Software	0.1		4
Indefinite-lived trade name	220.4		N/A
Total	$	1,181.0

The Company has also recorded, as part of the purchase price allocation, deferred tax liabilities primarily related to intangible assets of approximately $261.2 million.

Note 4—Discontinued Operations

On August 2, 2021, the Company completed the sale of the equity interests and assets comprising the Carlisle Brake & Friction ("CBF") segment for gross proceeds of (i) $250 million at closing, subject to certain adjustments, and (ii) the right to receive up to an additional $125 million based on CBF's achievement of certain performance targets. On February 23, 2022, the Company received $125 million in cash for the full amount of the contingent consideration. The sale of CBF is consistent with the Company's optimization strategy, as laid out in Vision 2025.

A summary of the results from discontinued operations included in the Condensed Consolidated Statements of Income and Comprehensive Income follows:

(in millions)	Three Months Ended June 30,			Six Months Ended June 30,
		2021			2021
Revenues		$	98.8		$	186.9
Cost of goods sold		76.1			147.4
Other operating expenses, net		11.8			23.8
Operating income		10.9			15.7
Other non-operating (income) expense, net		(0.1)			0.2
Income from discontinued operations before income taxes and loss on sale		11.0			15.5
Pre-close transaction expenses(1)		4.7			4.7
Income from discontinued operations before income taxes		6.3			10.8
Provision for income taxes		1.1			2.5
Income from discontinued operations		$	5.2		$	8.3

(1)Includes legal fees and stock-compensation expense directly related to the sale incurred prior to the closing of the transaction.

Income from discontinued operations in the second quarter and the first six months of 2022 primarily reflects a gain on the sale of real estate associated with the 2021 sale of the equity interests and assets comprising the CBF segment.

A summary of cash flows from discontinued operations included in the Condensed Consolidated Statements of Cash Flows for the six months ended June 30, follows:

(in millions)	2022		2021
Net cash (used in) provided by operating activities	$	(2.1)	$	10.8
Net cash provided by (used in) investing activities	132.0		(5.6)
Net cash (used in) provided by financing activities(1)	(129.9)		1.8
Change in cash and cash equivalents from discontinued operations	$	—	$	7.0

(1)Represents (repayments) or borrowings from the Carlisle cash pool to fund working capital and capital expenditures and return of capital upon sale.

Note 5—Earnings Per Share

The Company’s restricted shares contain non-forfeitable rights to dividends and are considered participating securities for purposes of computing earnings per share pursuant to the two-class method. The computation below

11

of earnings per share excludes income attributable to the unvested restricted shares from the numerator and excludes the dilutive impact of those underlying shares from the denominator.

The computation below of earnings per share includes the income attributable to the vested and deferred restricted shares and restricted stock units in the numerator and includes the dilutive impact of those underlying shares in the denominator.

Stock options are included in the calculation of diluted earnings per share utilizing the treasury stock method and performance share awards are included in the calculation of diluted earnings per share considering those are contingently issuable. Neither is considered to be a participating security as they do not contain non-forfeitable dividend rights.

Income from continuing operations and share data used in the basic and diluted earnings per share computations using the two-class method follows:

		Three Months Ended June 30,						Six Months Ended June 30,
(in millions, except per share amounts)		2022			2021			2022			2021
Income from continuing operations		$	295.9		$	94.1		$	490.2		$	143.2
Less: dividends declared		(28.0)			(27.5)			(56.7)			(56.0)
Undistributed earnings		267.9			66.6			433.5			87.2
Percent allocated to common stockholders (1)		99.7		%	99.7		%	99.7		%	99.7		%
Undistributed earnings allocated to common stockholders		267.2			66.4			432.4			86.9
Add: dividends declared to common shares, restricted share units and vested and deferred restricted and performance shares		27.9			27.5			56.6			55.9
Income from continuing operations attributable to common stockholders		$	295.1		$	93.9		$	489.0		$	142.8
Shares:
Basic weighted-average shares outstanding		51.8			52.3			52.0			52.7
Effect of dilutive securities:
Performance awards		0.2			0.2			0.2			0.1
Stock options		0.5			0.5			0.5			0.5
Diluted weighted-average shares outstanding		52.5			53.0			52.7			53.3
Per share income from continuing operations attributable to common shares:
Basic		$	5.70		$	1.79		$	9.41		$	2.71
Diluted		$	5.62		$	1.77		$	9.28		$	2.68
(1)	Basic weighted-average shares outstanding	51.8			52.3			52.0			52.7
	Basic weighted-average shares outstanding and unvested restricted shares expected to vest	51.9			52.5			52.1			52.8
	Percent allocated to common stockholders	99.7		%	99.7		%	99.7		%	99.7		%

To calculate earnings per share for income from discontinued operations and for net income, the denominator for both basic and diluted earnings per share is the same as used in the above table.

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2022		2021		2022		2021
Income from discontinued operations attributable to common stockholders for basic and diluted earnings per share	$	5.6	$	5.2	$	4.9	$	8.3
Net income attributable to common stockholders for basic and diluted earnings per share	300.8		99.2		493.9		151.1
Anti-dilutive stock options excluded from earnings per share calculation(1)	0.2		—		0.2		0.3

(1)Represents stock options excluded from the calculation of diluted earnings per share, as such options’ assumed proceeds upon exercise would result in the repurchase of more shares than the underlying award.

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Note 6—Revenue Recognition

The Company receives payment at the inception of the contract for separately priced extended service warranties, and revenue is deferred and recognized on a straight-line basis over the life of the contracts. Remaining performance obligations for extended service warranties represent the transaction price for the remaining stand-ready obligation to perform warranty services. A summary of estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied as of June 30, 2022, follows:

(in millions)	Remainder of 2022		2023		2024		2025		2026		2027		Thereafter
Extended service warranties	$	12.3	$	23.5	$	22.5	$	21.5	$	20.6	$	19.5	$	159.4

The Company has applied the practical expedient to not disclose information about remaining performance obligations that have original expected durations of one year or less.

Contract Balances

Contract liabilities relate to payments received in advance of performance under a contract, primarily related to extended service warranties in the CCM and CWT segments, systems contracts in the CFT segment and highly customized product contracts in the CIT segment. Contract liabilities are recognized as revenue as (or when) the Company performs under the contract. A summary of the change in contract liabilities for the six months ended June 30, follows:

(in millions)	2022		2021
Balance as of January 1	$	283.9	$	268.3
Revenue recognized	(38.1)		(32.0)
Revenue deferred	47.9		38.7
Balance as of June 30	$	293.7	$	275.0

Contract assets relate to the Company's right to payment for performance completed to date under a contract, primarily related to highly customized product contracts within the CIT and CFT segments. Accounts receivable are recorded when the right to payment becomes unconditional, which generally occurs over twelve months or less. A summary of the change in contract assets for the six months ended June 30, follows:

(in millions)	2022		2021
Balance as of January 1	$	72.1	$	84.5
Balance as of June 30	78.5		71.5
Change in contract assets	$	6.4	$	(13.0)

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Revenues by End-Market

A summary of revenues disaggregated by major end-market industries and reconciliation of disaggregated revenue by segment follows:

	Three Months Ended June 30, 2022
(in millions)	CCM		CWT		CIT		CFT		Total
General construction	$	1,113.4	$	368.9	$	—	$	—	$	1,482.3
Aerospace	—		—		94.6		—		94.6
Medical	—		—		78.1		—		78.1
Transportation	—		—		—		39.6		39.6
Heavy equipment	—		27.3		—		—		27.3
General industrial and other	—		52.7		39.9		32.4		125.0
Total revenues	$	1,113.4	$	448.9	$	212.6	$	72.0	$	1,846.9
	Three Months Ended June 30, 2021
(in millions)	CCM		CWT		CIT		CFT		Total
General construction	$	722.8	$	159.1	$	—	$	—	$	881.9
Aerospace	—		—		74.0		—		74.0
Medical	—		—		59.1		—		59.1
Transportation	—		—		—		35.9		35.9
Heavy equipment	—		22.9		—		—		22.9
General industrial and other	—		32.5		35.8		35.7		104.0
Total revenues	$	722.8	$	214.5	$	168.9	$	71.6	$	1,177.8

	Six Months Ended June 30, 2022
(in millions)	CCM		CWT		CIT		CFT		Total
General construction	$	1,994.5	$	667.2	$	—	$	—	$	2,661.7
Aerospace	—		—		177.9		—		177.9
Medical	—		—		142.7		—		142.7
Transportation	—		—		—		78.0		78.0
Heavy equipment	—		58.1		—		—		58.1
General industrial and other	—		82.7		77.0		65.1		224.8
Total revenues	$	1,994.5	$	808.0	$	397.6	$	143.1	$	3,343.2
	Six Months Ended June 30, 2021
(in millions)	CCM		CWT		CIT		CFT		Total
General construction	$	1,279.2	$	276.8	$	—	$	—	$	1,556.0
Aerospace	—		—		139.9		—		139.9
Medical	—		—		114.3		—		114.3
Transportation	—		—		—		69.7		69.7
Heavy equipment	—		43.2		—		—		43.2
General industrial and other	—		57.4		70.5		67.7		195.6
Total revenues	$	1,279.2	$	377.4	$	324.7	$	137.4	$	2,118.7

14

Revenues by Geographic Area

A summary of revenues based on the country to which the product was delivered and reconciliation of disaggregated revenue by segment follows:

	Three Months Ended June 30, 2022
(in millions)	CCM		CWT		CIT		CFT		Total
United States	$	1,009.4	$	403.8	$	150.2	$	36.1	$	1,599.5
International:
Europe	62.8		5.1		17.5		11.7		97.1
North America (excluding U.S.)	32.6		35.9		8.8		3.3		80.6
Asia and Middle East	5.0		1.9		27.2		19.5		53.6
Africa	0.5		0.5		3.2		0.2		4.4
Other	3.1		1.7		5.7		1.2		11.7
Total international	104.0		45.1		62.4		35.9		247.4
Total revenues	$	1,113.4	$	448.9	$	212.6	$	72.0	$	1,846.9
	Three Months Ended June 30, 2021
(in millions)	CCM		CWT		CIT		CFT		Total
United States	$	633.8	$	197.7	$	126.8	$	31.4	$	989.7
International:
Europe	61.9		2.2		16.3		13.6		94.0
North America (excluding U.S.)	22.5		8.7		2.5		2.8		36.5
Asia and Middle East	4.4		5.0		20.4		22.3		52.1
Africa	0.1		0.9		0.9		0.2		2.1
Other	0.1		—		2.0		1.3		3.4
Total international	89.0		16.8		42.1		40.2		188.1
Total revenues	$	722.8	$	214.5	$	168.9	$	71.6	$	1,177.8

	Six Months Ended June 30, 2022
(in millions)	CCM		CWT		CIT		CFT		Total
United States	$	1,796.9	$	722.3	$	280.1	$	69.5	$	2,868.8
International:
Europe	122.7		10.5		35.7		24.6		193.5
North America (excluding U.S.)	60.2		64.1		19.6		7.8		151.7
Asia and Middle East	7.7		4.8		46.5		38.8		97.8
Africa	1.2		2.7		5.9		0.4		10.2
Other	5.8		3.6		9.8		2.0		21.2
Total international	197.6		85.7		117.5		73.6		474.4
Total revenues	$	1,994.5	$	808.0	$	397.6	$	143.1	$	3,343.2
	Six Months Ended June 30, 2021
(in millions)	CCM		CWT		CIT		CFT		Total
United States	$	1,113.1	$	344.7	$	238.3	$	62.0	$	1,758.1
International:
Europe	116.2		8.5		30.7		26.1		181.5
North America (excluding U.S.)	37.9		16.9		7.0		5.3		67.1
Asia and Middle East	9.1		6.4		42.3		41.7		99.5
Africa	1.3		0.9		2.2		0.4		4.8
Other	1.6		—		4.2		1.9		7.7
Total international	166.1		32.7		86.4		75.4		360.6
Total revenues	$	1,279.2	$	377.4	$	324.7	$	137.4	$	2,118.7

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Note 7—Stock-Based Compensation

Stock-based compensation cost by award type follows:

(in millions)	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Stock option awards	$	2.3	$	2.3	$	5.4	$	5.9
Restricted stock awards	1.7		1.7		5.0		3.9
Performance share awards	2.2		1.8		5.4		4.3
Stock appreciation rights	—		5.9		—		9.0
Total stock-based compensation cost incurred	6.2		11.7		15.8		23.1
Capitalized cost during the period	—		(5.9)		—		(9.3)
Amortization of capitalized cost during the period	—		8.8		—		14.3
Total stock-based compensation expense	$	6.2	$	14.6	$	15.8	$	28.1

Note 8—Exit and Disposal and Other Restructuring Activities

The Company has undertaken operational restructuring and other cost reduction actions to streamline processes and manage costs throughout various departments. These actions resulted in exit, disposal and employee termination benefit costs, primarily resulting from planned reductions in workforce, facility consolidation and relocation, and lease termination costs. The primary actions are discussed below by operating segment.

CIT

During the third quarter of 2021, the Company initiated plans to exit its manufacturing operations in Carlsbad, California, and relocate the majority of those operations to its existing facilities in North America. The project is estimated to take a remaining six to nine months to complete. During the three and six months ended June 30, 2022, exit and disposal costs totaled $0.4 million and $1.2 million, respectively, primarily for employee termination benefit costs and accelerated depreciation. Total exit and disposal costs are expected to approximate $4.8 million, with approximately $2.0 million costs remaining to be incurred, primarily in 2022.

In the fourth quarter of 2021, the Company completed its project to relocate its manufacturing operations in Kent, Washington, as a result of market declines resulting from the COVID-19 pandemic for cumulative exit and disposal costs of $14.2 million. During the three and six months ended June 30, 2021, exit and disposal costs totaled $4.5 million and $5.1 million, respectively, primarily for employee termination benefit costs.

Consolidated Summary

The Company's exit and disposal costs by activity follows:

(in millions)	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Accelerated depreciation and impairments	$	0.7	$	2.1	$	1.3	$	2.1
Employee severance and benefit arrangements	0.2		3.2		1.3		5.1
Facility cleanup costs	0.1		—		0.2		(1.0)
Lease termination costs	—		—		0.1		—
Relocation costs	—		0.2		—		0.3
Other restructuring costs	0.1		1.1		0.4		1.5
Total exit and disposal costs	$	1.1	$	6.6	$	3.3	$	8.0

The Company's exit and disposal costs by segment follows:

(in millions)	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Carlisle Interconnect Technologies	$	1.1	$	6.6	$	3.0	$	7.9
Carlisle Weatherproofing Technologies	—		—		0.3		—
Carlisle Fluid Technologies	—		—		—		0.1
Total exit and disposal costs	$	1.1	$	6.6	$	3.3	$	8.0

16

The Company's exit and disposal costs by financial statement line item follows:

(in millions)	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cost of goods sold	$	1.0	$	3.6	$	2.9	$	4.4
Selling and administrative expenses	0.1		2.8		0.4		3.4
Research and development expenses	—		0.2		—		0.2
Total exit and disposal costs	$	1.1	$	6.6	$	3.3	$	8.0

The Company's change in exit and disposal activities liability follows:

(in millions)	Total
Balance as of December 31, 2021	$	6.5
Charges	3.3
Settlements	(8.3)
Balance as of June 30, 2022	$	1.5

The liability of $1.5 million primarily relates to employee severance and benefit arrangements and is included in accrued and other current liabilities.

Note 9—Income Taxes

The effective income tax rate on continuing operations for the six months ended June 30, 2022, was 23.5%. The year-to-date provision for income taxes included taxes on earnings at an anticipated rate of 23.8% and a tax impact of $1.7 million related to discrete activity.

The effective income tax rate on continuing operations for the six months ended June 30, 2021, was 18.8%.

Note 10—Inventories, net

(in millions)	June 30, 2022		December 31, 2021
Raw materials	$	373.0	$	288.0
Work-in-process	95.5		76.2
Finished goods	344.9		271.0
Reserves	(32.5)		(30.1)
Inventories, net	$	780.9	$	605.1

Note 11—Accrued and Other Current Liabilities

(in millions)	June 30, 2022		December 31, 2021
Compensation and benefits	$	113.2	$	136.2
Customer incentives	96.2		97.9
Standard product warranties	25.0		26.8
Income and other accrued taxes	18.6		19.4
Other accrued liabilities	67.0		70.9
Accrued and other current liabilities	$	320.0	$	351.2

Standard Product Warranties

The Company offers various standard warranty programs on its products, primarily for certain installed roofing systems, high-performance cables and assemblies and fluid technologies. The Company’s liability for such warranty

17

programs is included in accrued and other current liabilities. The change in standard product warranty liabilities for the six months ended June 30, follows:

(in millions)	2022		2021
Balance as of January 1	$	26.8	$	30.0
Provision	4.7		0.1
Claims	(6.0)		(2.3)
Foreign exchange	(0.5)		(0.2)
Balance as of June 30	$	25.0	$	27.6

Note 12—Long-term Debt

(in millions)					Fair Value(1)
	June 30, 2022		December 31, 2021		June 30, 2022		December 31, 2021
2.20% Notes due 2032	$	550.0	$	550.0	$	429.4	$	529.7
2.75% Notes due 2030	750.0		750.0		633.3		764.6
3.75% Notes due 2027	600.0		600.0		577.9		645.8
3.50% Notes due 2024	400.0		400.0		396.0		419.8
0.55% Notes due 2023	300.0		300.0		289.9		297.5
3.75% Notes due 2022	350.0		350.0		350.5		356.2
Unamortized discount, debt issuance costs and other	(20.1)		(22.6)
Total long term-debt	2,929.9		2,927.4
Less: current portion of debt	352.2		352.0
Long term-debt, less current portion	$	2,577.7	$	2,575.4

(1)The fair value is estimated based on current yield rates plus the Company’s estimated credit spread available for financings with similar terms and maturities. Based on these inputs, the debt instruments are classified as Level 2 in the fair value hierarchy.

Revolving Credit Facility

During the six months ended June 30, 2022, there were no borrowings or repayments under the Facility. As of June 30, 2022 and December 31, 2021, the Facility had no outstanding balance and $1.0 billion available for use.

Covenants and Limitations

Under the Company’s debt and credit facilities, the Company is required to meet various covenants and limitations, including limitations on certain leverage ratios, interest coverage and limits on outstanding debt balances held by certain subsidiaries. The Company was in compliance with all financial covenants and limitations as of June 30, 2022 and December 31, 2021.

Letters of Credit and Guarantee

During the normal course of business, the Company enters into commitments in the form of letters of credit and bank guarantees to provide its own financial and performance assurance to third parties. The Company has not issued any guarantees on behalf of any third parties. As of June 30, 2022 and December 31, 2021, the Company had $18.1 million and $18.9 million in letters of credit and bank guarantees outstanding, respectively. The Company has multiple arrangements to obtain letters of credit, which include an agreement with unspecified availability and separate agreements for up to $110.0 million in letters of credit, of which $91.9 million was available for use as of June 30, 2022.

Note 13—Employee Benefit Plans

Defined Benefit Plans

The Company recognizes net periodic benefit cost based on the actuarial analysis performed at the previous year end, adjusted if certain significant events occur during the year.

18

The components of net periodic benefit cost follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2022		2021		2022		2021
Service cost	$	0.6	$	0.7	$	1.2	$	1.4
Interest cost	0.8		0.7		1.6		1.4
Expected return on plan assets	(2.4)		(2.5)		(4.8)		(4.9)
Amortization of unrecognized loss(1)	1.2		1.6		2.5		3.2
Settlement expense	0.5		0.5		0.9		0.9
Net periodic benefit cost	$	0.7	$	1.0	$	1.4	$	2.0

(1)Includes amortization of unrecognized actuarial (gain) loss and prior service credits and excludes provision for income tax of $(0.3) million and $(0.6) million for the three and six months ended June 30, 2022, respectively, and $(0.4) million and $(0.8) million for the three and six months ended June 30, 2021, respectively.

The components of net periodic benefit cost, other than the service cost component, are included in other non-operating expense, net.

Note 14—Financial Instruments

Foreign Currency Forward Contracts

The Company uses foreign currency forward contracts to hedge a portion of its foreign currency exchange rate exposure to forecasted foreign currency denominated cash flows. These instruments are not held for speculative or trading purposes.

A summary of the Company's designated and non-designated hedges follows:

	June 30, 2022				December 31, 2021
(in millions)	Fair Value(1)		Notional Value		Fair Value(1)		Notional Value
Designated hedges	$	0.7	$	121.7	$	2.7	$	127.6
Non-designated hedges	(0.1)		114.5		0.2		82.5

(1)The fair value of foreign currency forward contracts is included in other current assets. The fair value was estimated using observable market inputs such as forward and spot prices of the underlying exchange rate pair. Based on these inputs, derivative assets and liabilities are classified as Level 2 in the fair value hierarchy.

Designated Hedges

For instruments that are designated and qualify as cash flow hedges, the Company had foreign currency forward contracts with maturities less than one year. The changes in the fair value of the contracts are recorded in accumulated other comprehensive income (loss) and recognized in the same line item as the impact of the hedged item, revenues or cost of sales, when the underlying forecasted transaction impacts earnings. The change in accumulated other comprehensive loss related to foreign currency cash flow hedges was immaterial for the three and six months ended June 30, 2022 and 2021. Gains and losses on the contracts representing hedge components excluded from the assessment of hedge effectiveness are recognized in the same line item as the hedged item, revenues or cost of sales, currently.

Non-Designated Hedges

For instruments that are not designated as a cash flow hedge, the Company had foreign exchange contracts with maturities less than one year. The unrealized gains and losses resulting from these contracts were immaterial for the three and six months ended June 30, 2022 and 2021, and are recognized in other non-operating expense, net and partially offset corresponding foreign exchange gains and losses on these balances.

Rabbi Trust

The Company has established a Rabbi Trust to provide for a degree of financial security to cover its obligations under its deferred compensation plan. Contributions to the Rabbi Trust by the Company are made at the discretion of management and generally are made in cash and invested in money-market funds. The Company consolidates the Rabbi Trust and therefore includes the investments in its Condensed Consolidated Balance Sheets. As of June 30, 2022 and December 31, 2021, the Company had $5.0 million and $5.7 million of cash, respectively, and $7.4 million and $8.1 million of short-term investments, respectively. The short-term investments are classified as

19

trading securities and are measured at fair value using quoted market prices in active markets (i.e., Level 1 measurements) with changes in fair value recorded in net income and the associated cash flows presented as operating cash flows.

Investment Securities

In accordance with its investment policy, the Company invests its excess cash from time-to-time in investment grade bonds and other securities to achieve higher yields. As of June 30, 2022 and December 31, 2021, the Company had $19.7 million and $30.3 million of investment grade bonds, respectively. The investment grade bonds are classified as available-for-sale and measured at fair value using quoted market prices in active markets (i.e., Level 1 measurements) with changes in fair value recorded in accumulated comprehensive income (loss), until realized, and the associated cash flows presented as investing cash flows.

Other Financial Instruments

Other financial instruments include cash and cash equivalents, accounts receivable, net, accounts payable, accrued expenses and long-term debt. The carrying value for cash and cash equivalents, accounts receivable, net, accounts payable and accrued expenses approximates fair value because of their short-term nature and generally negligible credit losses (refer to Note 12 for the fair value of long-term debt).

Note 15—Commitments and Contingencies

Litigation

Over the years, the Company has been named as a defendant, along with numerous other defendants, in lawsuits in various courts in which plaintiffs have alleged injury due to exposure to asbestos-containing friction products produced and sold predominantly by the Company’s discontinued Motion Control business between the late-1940s and the mid-1980s. The Company has been subject to liabilities for indemnity and defense costs associated with these lawsuits.

The Company has recorded a liability for estimated indemnity costs associated with pending and future asbestos claims. As of June 30, 2022, the Company believes that its accrual for these costs is not material to the Company's financial position, results of operations, or operating cash flows.

The Company recognizes expenses for defense costs associated with asbestos claims during the periods in which they are incurred. Refer to the 2021 Annual Report on Form 10-K for the Company's accounting policy related to litigation defense costs.

The Company currently maintains insurance coverage with respect to asbestos-related claims and associated defense costs. The Company records the insurance coverage as a long-term receivable in an amount it reasonably estimates is probable of recovery for pending and future asbestos-related indemnity claims. Since the Company’s insurance policies contain various coverage exclusions, limits of coverage and self-insured retentions and may be subject to insurance coverage disputes, the Company may recognize expenses for indemnity and defense costs in particular periods if and when it becomes probable that such costs will not be covered by insurance.

Henry has also been named as a defendant, along with numerous other defendants, in lawsuits in various courts in which plaintiffs have alleged injury due to exposure to asbestos-containing roofing products produced and sold by Henry and certain of its subsidiaries. Henry is subject to liabilities for indemnity and defense costs associated with these lawsuits. As of June 30, 2022, the Company believes such liabilities are not material to the Company’s financial position, results of operations, or operating cash flows. Henry currently maintains insurance coverage and is the beneficiary of other arrangements which provide coverage with respect to certain asbestos-related claims and associated defense costs. Such insurance policies contain various coverage exclusions, limits of coverage and self-insured retentions and may be subject to insurance coverage disputes.

The Company is also involved in various other legal actions and proceedings arising in the ordinary course of business. In the opinion of management, the ultimate outcomes of such actions and proceedings, either individually or in the aggregate, are not expected to have a material adverse effect on the Company’s financial position, results of operations, or operating cash flows.

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Carlisle Companies Incorporated (“Carlisle”, the “Company”, “we”, “us” or “our”) is a leading supplier of innovative building envelope products and energy-efficient solutions for customers creating sustainable buildings of the future. Through our Carlisle Construction Materials ("CCM") and Carlisle Weatherproofing Technologies ("CWT") businesses and family of leading brands, Carlisle delivers innovative, labor-reducing and environmentally responsible products and solutions to customers across the world through the Carlisle Experience. Over the life of a building, Carlisle’s products help drive lower greenhouse gas emissions, improve energy savings for building owners and operators, and increase a building’s resiliency to the elements. Driven by our strategic plan, Vision 2025, Carlisle is committed to generating superior stockholder returns and maintaining a balanced capital deployment approach, including investments in our businesses, strategic acquisitions, share repurchases and continued dividend increases. Carlisle also is a leading provider of products to the aerospace, medical technologies and general industrial markets through its Carlisle Interconnect Technologies ("CIT") and Carlisle Fluid Technologies ("CFT") business segments.

Management’s Discussion and Analysis of Financial Condition and Results of Operations ("MD&A") is designed to provide a reader of our financial statements with a narrative from the perspective of Company management. All references to "Notes" refer to our Notes to Condensed Consolidated Financial Statements in Item 1 of this Quarterly Report on Form 10-Q.

Executive Overview

Carlisle continued our outstanding performance this quarter, especially as we operate in this highly challenging and uncertain environment. Despite these challenges, the Carlisle team continues to live our culture of perseverance, continuous improvement and unwavering focus on delivering results.

As we move past the mid-point of 2022 and reflect on our Vision 2025 strategic plan that we launched in 2018, we are encouraged by our second quarter results. We believe these results clearly demonstrate Carlisle is exceeding expectations and is on pace to achieve much of what we set out to accomplish in Vision 2025, including our goal to deliver $15 of earnings per share.

Achievements in the second quarter included:

•Our pivot to a more concentrated building products platform continued with the first full quarter of performance for our new CCM and CWT divisions. Both teams experienced a second quarter marked by strong demand, robust backlogs and solid execution;

•A further reinforcement of our differentiated approach to pricing that reflects the value of the Carlisle Experience, and the benefits of our products that contribute to the energy efficiency of buildings;

•A continued and disciplined approach to capital allocation, including acquisitions, highlighted by ASP Henry Holdings, Inc. ("Henry"), which continues to exceed expectations and deliver on our synergy commitments of $30 million;

•Investing in our businesses to expand capacity, drive innovation, and develop world-class capabilities, including:

◦Ongoing construction of our state-of-the-art polyiso insulation facility built to LEED specifications in Sikeston, Missouri, which is on track to be operational in the second quarter of 2023; and

◦Launching of our 6th TPO line in Carlisle, Pennsylvania, which, in September, will introduce to the market an industry-first 16-foot-wide TPO membrane, and is expected to result in significant labor savings, improved installation quality and less packaging waste for our installers;

•A continued commitment to the introduction of new products, which accounted for over $100 million of revenues in the second quarter;

In the first six months of 2022, we returned $56.7 million in the form of dividends, continuing our 45 year trend of continuous and annually increasing dividends, and repurchased $175.0 million of shares, adding to our cumulative share repurchases since 2017 of nearly $2 billion.

Vision 2025 continues to provide the Carlisle team with the clarity to navigate a complex and rapidly evolving environment, a culture of continuous improvement, and a drive to employ and develop the best talent, all the while ensuring our teams know who we are and what we are trying to achieve. Our outlook remains optimistic for the rest of 2022 and the long term.

21

Summary of Financial Results

	Three Months Ended June 30,						Six Months Ended June 30,
(in millions, except per share amounts)	2022			2021			2022			2021
Revenues	$	1,846.9		$	1,177.8		$	3,343.2		$	2,118.7
Operating income	$	410.6		$	133.8		$	687.9		$	218.5
Operating margin	22.2		%	11.4		%	20.6		%	10.3		%
Income from continuing operations	$	295.9		$	94.1		$	490.2		$	143.2
Income from discontinued operations	$	5.6		$	5.2		$	4.9		$	8.3
Diluted earnings per share attributable to common shares:
Income from continuing operations	$	5.62		$	1.77		$	9.28		$	2.68
Income from discontinued operations	$	0.11		$	0.10		$	0.09		$	0.16
Adjusted EBITDA(1)	$	472.2		$	191.7		$	817.0		$	329.5
Adjusted EBITDA margin(1)	25.6		%	16.3		%	24.4		%	15.6		%

(1)Adjusted EBITDA and adjusted EBITDA margin are intended to provide investors and others with information about Carlisle and its segments' performance without the effect of items that, by their nature, tend to obscure core operating results due to potential variability across periods based on the timing, frequency and magnitude of such items. Refer to Non-GAAP Financial Measures in this MD&A for more information about, and a detailed reconciliation of these items.

Revenues increased in the second quarter and the first six months of 2022 primarily reflecting positive pricing and higher volumes in all segments and contributions from the acquisition of Henry in the CWT segment, partially offset by unfavorable foreign currency impacts.

The increase in operating margin percentage in the second quarter and the first six months of 2022 primarily reflected positive pricing, higher volumes and favorable product mix, partially offset by raw material and wage inflation across all segments.

Diluted earnings per share from continuing operations increased primarily reflecting improved operating income performance ($3.93 per share in the second quarter of 2022 and $6.64 per share in the first six months of 2022) and reduced average shares outstanding ($0.06 per share in the second quarter of 2022 and $0.11 per share in the first six months of 2022) resulting from purchases under our share repurchase program, partially offset by a higher effective tax rate ($0.08 per share in the second quarter of 2022 and $0.10 per share in the first six months of 2022) and higher interest expense ($0.05 per share in the second quarter of 2022 and $0.09 per share in the first six months of 2022).

We generated $223.5 million in operating cash flow in the first six months of 2022 and utilized cash on hand and cash provided by operations to return capital to stockholders through dividends and share repurchases, and to fund capital expenditures.

Consolidated Results of Operations

Revenues

(in millions)	2022		2021		Change		%		Acquisition Effect		Price / Volume Effect		Exchange Rate Effect
Three months ended June 30	$	1,846.9	$	1,177.8	$	669.1	56.8	%	15.5	%	42.2	%	(0.9)	%
Six months ended June 30	$	3,343.2	$	2,118.7	$	1,224.5	57.8	%	15.1	%	43.4	%	(0.7)	%

Revenues increased in the second quarter and the first six months of 2022 primarily reflecting positive pricing and higher sales volumes across all segments and contributions from the acquisition of Henry in the CWT segment, partially offset by unfavorable foreign currency impacts.

22

Gross Margin

(in millions)	Three Months Ended June 30,										Six Months Ended June 30,
	2022			2021			Change		%		2022			2021			Change		%
Gross margin	$	632.0		$	307.7		$	324.3	105.4	%	$	1,122.9		$	552.6		$	570.3	103.2	%
Gross margin percentage	34.2		%	26.1		%					33.6		%	26.1		%
Depreciation and amortization	$	25.4		$	24.1						$	52.4		$	48.7

Gross margin percentage (gross margin expressed as a percentage of revenues) increased in the second quarter and the first six months of 2022, driven by positive pricing and higher volumes, partially offset by raw material and wage inflation. Also included in cost of goods sold were exit and disposal costs totaling $1.0 million and $2.9 million for the second quarter and the first six months of 2022, respectively, primarily at CIT attributable to our restructuring initiatives, compared with $3.6 million and $4.4 million for the second quarter and the first six months of 2021, respectively. Refer to Note 8 for further information on exit and disposal activities.

Selling and Administrative Expenses

(in millions)	Three Months Ended June 30,										Six Months Ended June 30,
	2022			2021			Change		%		2022			2021			Change		%
Selling and administrative expenses	$	210.6		$	161.3		$	49.3	30.6	%	$	413.6		$	312.1		$	101.5	32.5	%
As a percentage of revenues	11.4		%	13.7		%					12.4		%	14.7		%
Depreciation and amortization	$	36.3		$	25.0						$	73.6		$	49.2

The increase in selling and administrative expenses in the second quarter and the first six months of 2022 primarily reflected incremental costs in the CWT segment from the addition of Henry, higher incentive compensation costs and wage inflation. Also included in selling and administrative expenses were exit and disposal costs totaling $0.1 million and $0.4 million for the second quarter and the first six months of 2022, respectively, primarily at CIT attributable to our restructuring initiatives, compared with $2.8 million and $3.4 million for the second quarter and the first six months of 2021, respectively. Refer to Note 8 for further information on exit and disposal activities.

Research and Development Expenses

(in millions)	Three Months Ended June 30,										Six Months Ended June 30,
	2022			2021			Change		%		2022			2021			Change		%
Research and development expenses	$	12.6		$	13.8		$	(1.2)	(8.7)	%	$	24.9		$	24.2		$	0.7	2.9	%
As a percentage of revenues	0.7		%	1.2		%					0.7		%	1.1		%
Depreciation and amortization	$	0.8		$	0.4						$	1.2		$	0.9

Research and development expenses were lower in the second quarter of 2022, primarily reflecting lower new product development expenses at our CIT segment. Research and development expenses were higher in the first six months of 2022, primarily reflecting higher new product development expenses at our CWT segment.

Other Operating Income, net

(in millions)	Three Months Ended June 30,								Six Months Ended June 30,
	2022		2021		Change		%		2022		2021		Change		%
Other operating income, net	$	(1.8)	$	(1.2)	$	(0.6)	50.0	%	$	(3.5)	$	(2.2)	$	(1.3)	59.1	%

Other operating income, net in the 2022 periods primarily reflected rebates ($1.2 million in the second-quarter and $2.2 million in the first six months) and royalty income ($0.5 million in the second quarter and $0.9 million in the first six months).

Other operating income, net in the 2021 periods primarily reflected rebates ($0.8 million in the second-quarter and $1.7 million in the first six months) and royalty income ($0.4 million in the second quarter and $0.7 million in the first six months), partially offset by an insurance settlement of $0.5 million in both the second quarter and first six months at CCM.

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Operating Income

(in millions)	Three Months Ended June 30,										Six Months Ended June 30,
	2022			2021			Change		%		2022			2021			Change		%
Operating income	$	410.6		$	133.8		$	276.8	206.9	%	$	687.9		$	218.5		$	469.4	214.8	%
Operating margin percentage	22.2		%	11.4		%					20.6		%	10.3		%

Refer to Segment Results of Operations within this MD&A for further information related to segment operating income results.

Interest Expense, net

(in millions)	Three Months Ended June 30,								Six Months Ended June 30,
	2022		2021		Change		%		2022		2021		Change		%
Interest expense, net	$	22.4	$	19.2	$	3.2	16.7	%	$	45.0	$	38.4	$	6.6	17.2	%

Interest expense, net of capitalized interest, increased in the second quarter and the first six months of 2022 primarily reflecting higher long-term debt balances associated with our public offering of $550.0 million of 2.20% unsecured senior notes and $300.0 million of 0.55% unsecured senior notes completed in September 2021. Refer to Note 12 for further information on our long-term debt.

Interest Income

(in millions)	Three Months Ended June 30,								Six Months Ended June 30,
	2022		2021		Change		%		2022		2021		Change		%
Interest income	$	(0.6)	$	(0.4)	$	(0.2)	50.0	%	$	(0.8)	$	(0.9)	$	0.1	(11.1)	%

Interest income increased during the second quarter of 2022 primarily reflecting higher yields.

Other Non-operating Expense, net

(in millions)	Three Months Ended June 30,							Six Months Ended June 30,
	2022		2021		Change		%	2022		2021		Change		%
Other non-operating expense, net	$	2.5	$	1.1	$	1.4	NM	$	2.6	$	4.7	$	(2.1)	NM

Other non-operating expense, net, in the second quarter and the first six months of 2022 primarily reflected unrealized losses on Rabbi Trust investments and changes in foreign currencies against the U.S. Dollar.

Other non-operating expense, net in the first six months of 2021 primarily reflected the release of a portion of the indemnification asset related to the Petersen Aluminum Corporation ("Petersen") acquisition resulting from escrow expirations and changes in foreign currencies against the U.S. Dollar.

Income Taxes

(in millions)	Three Months Ended June 30,										Six Months Ended June 30,
	2022			2021			Change		%		2022			2021			Change		%
Provision for income taxes	$	90.4		$	19.8		$	70.6	356.6	%	$	150.9		$	33.1		$	117.8	355.9	%
Effective tax rate	23.4		%	17.4		%					23.5		%	18.8		%

The effective income tax rate on continuing operations for the first six months of 2022 was 23.5%. The year-to-date provision for income taxes included taxes on earnings at an anticipated rate of 23.8% and a tax impact of $1.7 million related to discrete activity.

The effective income tax rate on continuing operations for the first six months of 2021 was 18.8%.

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Income from Discontinued Operations

(in millions)	Three Months Ended June 30,							Six Months Ended June 30,
	2022		2021		Change		%	2022		2021		Change		%
Income from discontinued operations before income taxes	$	4.8	$	6.3	$	(1.5)	NM	$	4.1	$	10.8	$	(6.7)	NM
(Benefit from) provision for income taxes	(0.8)		1.1					(0.8)		2.5
Income from discontinued operations	$	5.6	$	5.2				$	4.9	$	8.3

Income from discontinued operations in the second quarter and the first six months of 2022 primarily reflects a gain on the sale of real estate associated with the 2021 sale of the equity interests and assets comprising the Carlisle Brake & Friction ("CBF") segment. Income from discontinued operations in the second quarter and the first six months of 2021 reflects the operating results from the CBF segment, partially offset by pre-closing transaction expenses.

Segment Results of Operations

Carlisle Construction Materials

This segment produces a complete line of premium energy-efficient single-ply roofing products and warranted roof systems and accessories for the commercial building industry, including EPDM, TPO and PVC membrane, polyiso insulation, and engineered metal roofing and wall panel systems for commercial and residential buildings.

(in millions)	Three Months Ended June 30,										Acquisition Effect		Price / Volume Effect		Exchange Rate Effect
	2022			2021			Change		%
Revenues	$	1,113.4		$	722.8		$	390.6	54.0	%	—	%	54.9	%	(0.9)	%
Operating income	$	358.9		$	155.0		$	203.9	131.5	%
Operating margin	32.2		%	21.4		%
Adjusted EBITDA(1)	$	371.3		$	168.3		$	203.0	120.6	%
Adjusted EBITDA margin(1)	33.3		%	23.3		%

(in millions)	Six Months Ended June 30,										Acquisition Effect		Price / Volume Effect		Exchange Rate Effect
	2022			2021			Change		%
Revenues	$	1,994.5		$	1,279.2		$	715.3	55.9	%	—	%	56.6	%	(0.7)	%
Operating income	$	620.0		$	265.7		$	354.3	133.3	%
Operating margin	31.1		%	20.8		%
Adjusted EBITDA(1)	$	646.6		$	292.2		$	354.4	121.3	%
Adjusted EBITDA margin(1)	32.4		%	22.8		%

(1)Adjusted EBITDA and adjusted EBITDA margin are intended to provide investors and others with information about Carlisle and its segments' performance without the effect of items that, by their nature, tend to obscure core operating results due to potential variability across periods based on the timing, frequency and magnitude of such items. Refer to Non-GAAP Financial Measures in this MD&A for more information about, and a detailed reconciliation of these items.

CCM’s revenue increased in the second quarter and the first six months of 2022 primarily reflecting positive pricing across all product lines and the strength of U.S. commercial roofing demand.

CCM’s operating margin and adjusted EBITDA margin increase in the second quarter and the first six months of 2022 primarily reflected positive pricing, higher volumes, favorable product mix, and savings from Carlisle Operating System ("COS"), partially offset by raw material, freight and wage inflation.

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Carlisle Weatherproofing Technologies

This segment produces building envelope solutions that effectively drive energy efficiency and sustainability in commercial and residential applications. Products include high-performance waterproofing and moisture protection products, protective roofing underlayments, fully integrated liquid and sheet applied air/vapor barriers, sealants/primers and flashing systems, roof coatings and mastics, spray polyurethane foam and coating systems for a wide variety of thermal protection applications and other premium polyurethane products, block-molded expanded polystyrene insulation, engineered products for HVAC applications, and premium rubber products for a variety of industrial and surfacing applications.

(in millions)	Three Months Ended June 30,										Acquisition Effect		Price / Volume Effect		Exchange Rate Effect
	2022			2021			Change		%
Revenues	$	448.9		$	214.5		$	234.4	109.3	%	85.3	%	24.4	%	(0.4)	%
Operating income	$	59.0		$	22.4		$	36.6	163.4	%
Operating margin	13.1		%	10.4		%
Adjusted EBITDA(1)	$	83.5		$	32.9		$	50.6	153.8	%
Adjusted EBITDA margin(1)	18.6		%	15.3		%

(in millions)	Six Months Ended June 30,										Acquisition Effect		Price / Volume Effect		Exchange Rate Effect
	2022			2021			Change		%
Revenues	$	808.0		$	377.4		$	430.6	114.1	%	85.0	%	29.4	%	(0.3)	%
Operating income	$	96.5		$	33.0		$	63.5	192.4	%
Operating margin	11.9		%	8.7		%
Adjusted EBITDA(1)	$	146.6		$	53.8		$	92.8	172.5	%
Adjusted EBITDA margin(1)	18.1		%	14.3		%

(1)Adjusted EBITDA and adjusted EBITDA margin are intended to provide investors and others with information about Carlisle and its segments' performance without the effect of items that, by their nature, tend to obscure core operating results due to potential variability across periods based on the timing, frequency and magnitude of such items. Refer to Non-GAAP Financial Measures in this MD&A for more information about, and a detailed reconciliation of these items.

CWT’s revenue increased in the second quarter and the first six months of 2022 primarily reflecting contributions from the Henry acquisition, positive pricing and strength across all our product lines.

CWT’s operating margin and adjusted EBITDA margin increase in the second quarter and the first six months of 2022 primarily reflected positive pricing, contributions from the Henry acquisition, higher volumes, favorable product mix and savings from COS, partially offset by raw material, freight and wage inflation.

Carlisle Interconnect Technologies

This segment produces high-performance wire and cable, including optical fiber, for the commercial aerospace, military and defense electronics, medical device, industrial, and test and measurement markets. CIT's product portfolio also includes sensors, connectors, contacts, cable assemblies, complex harnesses, racks, trays, and installation kits, in addition to engineering and certification services. CIT also provides medical device products and solutions for several medical technology applications.

26

During the third quarter of 2021, we announced the closure of our manufacturing operations in Carlsbad, California, and the relocation of those operations to our existing facilities in North America. The project is estimated to take a remaining six to nine months to complete. Total projected costs are expected to approximate $5.8 million, with approximately $2.6 million costs remaining to be incurred.

(in millions)	Three Months Ended June 30,										Acquisition Effect		Price / Volume Effect		Exchange Rate Effect
	2022			2021			Change		%
Revenues	$	212.6		$	168.9		$	43.7	25.9	%	—	%	26.1	%	(0.2)	%
Operating income (loss)	$	7.9		$	(12.9)		$	20.8	NM
Operating margin	3.7		%	(7.6)		%
Adjusted EBITDA(1)	$	27.0		$	13.5		$	13.5	100.0	%
Adjusted EBITDA margin(1)	12.7		%	8.0		%

(in millions)	Six Months Ended June 30,										Acquisition Effect		Price / Volume Effect		Exchange Rate Effect
	2022			2021			Change		%
Revenues	$	397.6		$	324.7		$	72.9	22.5	%	—	%	22.5	%	—	%
Operating income (loss)	$	5.4		$	(23.6)		$	29.0	NM
Operating margin	1.4		%	(7.3)		%
Adjusted EBITDA(1)	$	45.4		$	24.5		$	20.9	85.3	%
Adjusted EBITDA margin(1)	11.4		%	7.5		%

(1)Adjusted EBITDA and adjusted EBITDA margin is intended to provide investors and others with information about Carlisle's and its segments' performance without the effect of items that, by their nature, tend to obscure core operating results due to potential variability across periods based on the timing, frequency and magnitude of such items. Refer to Non-GAAP Financial Measures in this MD&A for more information about, and a detailed reconciliation of these items.

CIT’s revenue increased in the second quarter and the first six months of 2022 primarily reflected continued strengthening of aerospace and medical end markets.

CIT’s operating margin and adjusted EBITDA margin increase in the second quarter and the first six months of 2022 primarily reflected higher volumes, positive pricing, and savings from COS, partially offset by raw material and wage inflation, unfavorable product mix and higher operating expenses.

Carlisle Fluid Technologies

This segment produces highly engineered liquid, powder, sealants and adhesives finishing equipment and integrated system solutions for spraying, pumping, mixing, metering and curing of a variety of coatings used in the automotive manufacture, general industrial, protective coating, wood, specialty and automotive refinishing markets.

(in millions)	Three Months Ended June 30,										Acquisition Effect		Price / Volume Effect		Exchange Rate Effect
	2022			2021			Change		%
Revenues	$	72.0		$	71.6		$	0.4	0.6	%	—	%	5.5	%	(4.9)	%
Operating income	$	7.0		$	6.6		$	0.4	6.1	%
Operating margin	9.7		%	9.2		%
Adjusted EBITDA(1)	$	12.2		$	11.4		$	0.8	7.0	%
Adjusted EBITDA margin(1)	16.9		%	15.9		%

(in millions)	Six Months Ended June 30,										Acquisition Effect		Price / Volume Effect		Exchange Rate Effect
	2022			2021			Change		%
Revenues	$	143.1		$	137.4		$	5.7	4.1	%	—	%	7.5	%	(3.4)	%
Operating income	$	11.8		$	10.9		$	0.9	8.3	%
Operating margin	8.2		%	7.9		%
Adjusted EBITDA(1)	$	22.7		$	21.6		$	1.1	5.1	%
Adjusted EBITDA margin(1)	15.9		%	15.7		%

(1)Adjusted EBITDA and adjusted EBITDA margin is intended to provide investors and others with information about Carlisle's and its segments' performance without the effect of items that, by their nature, tend to obscure core operating results due to potential variability across periods based on the timing, frequency and magnitude of such items. Refer to Non-GAAP Financial Measures in this MD&A for more information about, and a detailed reconciliation of these items.

27

CFT’s revenue increase in the second quarter and the first six months of 2022 primarily reflected positive pricing, partially offset by unfavorable changes in foreign currency rates.

CFT’s operating margin and adjusted EBITDA margin increase in the second quarter and the first six months of 2022 primarily reflected positive pricing and savings from COS, partially offset by raw material and wage inflation.

Liquidity and Capital Resources

A summary of our cash and cash equivalents by region follows:

(in millions)	June 30, 2022		December 31, 2021
Europe	$	65.1	$	12.3
North America (excluding U.S.)	36.3		40.8
China	24.1		17.8
Asia Pacific (excluding China)	35.5		12.9
International cash and cash equivalents	161.0		83.8
U.S. cash and cash equivalents	192.2		240.6
Total cash and cash equivalents	$	353.2	$	324.4

We maintain liquidity sources primarily consisting of cash and cash equivalents as well as availability under the Company's Fourth Amended and Restated Credit Agreement (as amended, the "Facility"). In the near term, cash on hand is our primary source of liquidity. The increase in cash and cash equivalents compared to December 31, 2021, is primarily related to cash generated from operations and the receipt of the $125 million earn out payment from the sale of CBF, partially offset by share repurchases, capital expenditures and payment of dividends to stockholders.

In certain countries, primarily China, our cash is subject to local laws and regulations that require government approval for conversion of such cash to U.S. Dollars, as well as for transfer of such cash, both temporarily and permanently outside of that jurisdiction. In addition, upon permanent transfer of cash outside of certain jurisdictions, primarily in Canada and China, we may be subject to withholding taxes, and as such we have accrued $7.9 million in anticipation of those taxes as of June 30, 2022.

We believe we have sufficient cash on hand, availability under the Facility and operating cash flows to meet our anticipated business requirements for at least the next 12 months. At the discretion of management, the Company may use available cash on capital expenditures, dividends, common stock repurchases, acquisitions and strategic investments.

We also anticipate we will have sufficient cash on hand, availability under the Facility and operating cash flows to meet our anticipated long-term business requirements and to pay outstanding principal balances of our existing notes by the respective maturity dates. Another potential source of liquidity is access to public capital markets, subject to market conditions. We may access the capital markets for a variety of reasons, including to repay the outstanding balances of our outstanding debt and fund acquisitions. Refer to Note 12.

Sources and Uses of Cash and Cash Equivalents

	Six Months Ended June 30,
(in millions)	2022		2021
Net cash provided by operating activities	$	223.5	$	171.5
Net cash provided by (used in) investing activities	36.9		(63.5)
Net cash used in financing activities	(229.9)		(284.5)
Effect of foreign currency exchange rate changes on cash	(1.7)		(0.3)
Change in cash and cash equivalents	$	28.8	$	(176.8)

Operating Activities

We generated operating cash flows of $223.5 million for the first six months of 2022 (including working capital uses of $415.8 million), compared with $171.5 million for the first six months of 2021 (including working capital uses of $103.9 million). Higher operating cash flows for the first six months of 2022 primarily reflected higher net income, partially offset by higher working capital uses related to an increase in receivables from higher sales and an

28

increase in inventory from rising raw material costs and increased volume, partially offset by higher payables due to rising raw material costs.

Investing Activities

Cash provided by investing activities of $36.9 million for the first six months of 2022 primarily reflected the proceeds of the contingent consideration from the earn out payment and sale of real estate associated with the 2021 sale of CBF of $132.0 million and proceeds from investment in securities of $10.3 million, partially offset by capital expenditures of $82.7 million and the acquisition of MBTechnology for $24.7 million. Cash used in investing activities of $63.5 million for the first six months of 2021 primarily reflected capital expenditures of $55.1 million and investment in securities of $10.2 million.

Financing Activities

Cash used in financing activities of $229.9 million in the first six months of 2022 primarily reflected share repurchases of $175.0 million and cash dividend payments of $56.7 million, reflecting the increased quarterly dividend of $0.54 per share. Cash used in financing activities of $284.5 million during the first six months of 2021 primarily reflected share repurchases of $265.6 million and dividend payments of $56.0 million.

Debt Instruments

Senior Notes

We have unsecured senior notes outstanding of $350.0 million due November 15, 2022 (at a stated interest rate of 3.75%). We anticipate using cash on hand, availability under the Facility and operating cash flows as potential sources to repay these notes upon maturity.

Revolving Credit Facility

During the first six months of 2022 and 2021, we had no borrowings or repayments under the Facility. As of June 30, 2022 and December 31, 2021, the Facility had no outstanding balance and $1.0 billion available for use.

Debt Covenants

We are required to meet various covenants and limitations under our senior notes and Facility, including certain leverage ratios, interest coverage ratios and limits on outstanding debt balances held by certain subsidiaries. We were in compliance with all covenants and limitations as of June 30, 2022 and December 31, 2021.

Refer to Note 12 for further information on our debt instruments.

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Non-GAAP Financial Measures

EBIT, Adjusted EBIT, Adjusted EBITDA and Adjusted EBITDA Margin

Earnings before interest and taxes ("EBIT"), adjusted EBIT, adjusted earnings before interest, taxes, depreciation and amortization ("EBITDA") and adjusted EBITDA margin are intended to provide investors and others with information about the Company's and its segments' performance without the effect of items that, by their nature, tend to obscure core operating results due to potential variability across periods based on the timing, frequency and magnitude of such items. As a result, management believes that these measures enhance the ability of investors to analyze trends in the Company’s business and evaluate the Company’s performance relative to similarly-situated companies. This information differs from net income, operating income, and operating margin determined in accordance with accounting principles generally accepted in the United States of America ("GAAP") and should not be considered in isolation or as a substitute for measures of performance determined in accordance with GAAP. The Company's and its segments' EBIT, adjusted EBIT, adjusted EBITDA and adjusted EBITDA margin follows. These non-GAAP financial measures may not be comparable to similarly titled measures reported by other companies.

	Three Months Ended June 30,						Six Months Ended June 30,
(in millions)	2022			2021			2022			2021
Net income (GAAP)	$	301.5		$	99.3		$	495.1		$	151.5
Less: income from discontinued operations (GAAP)	5.6			5.2			4.9			8.3
Income from continuing operations (GAAP)	295.9			94.1			490.2			143.2
Provision for income taxes	90.4			19.8			150.9			33.1
Interest expense, net	22.4			19.2			45.0			38.4
Interest income	(0.6)			(0.4)			(0.8)			(0.9)
EBIT	408.1			132.7			685.3			213.8
Exit and disposal, and facility rationalization costs	0.7			7.5			2.8			10.6
Inventory step-up amortization and transaction costs	0.8			1.3			0.8			2.2
Impairment charges	—			—			0.2			—
Losses from acquisitions and disposals	0.1			0.1			0.4			3.5
Losses from insurance	—			0.5			0.3			0.5
Losses from litigation	—			0.1			—			0.1
Total non-comparable items	1.6			9.5			4.5			16.9
Adjusted EBIT	409.7			142.2			689.8			230.7
Depreciation	24.0			20.3			48.0			40.6
Amortization	38.5			29.2			79.2			58.2
Adjusted EBITDA	$	472.2		$	191.7		$	817.0		$	329.5
Divided by:
Total revenues	$	1,846.9		$	1,177.8		$	3,343.2		$	2,118.7
Adjusted EBITDA margin	25.6		%	16.3		%	24.4		%	15.6		%

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	Three Months Ended June 30, 2022
(in millions)	CCM			CWT			CIT			CFT			Corporate and unallocated
Operating income (loss) (GAAP)	$	358.9		$	59.0		$	7.9		$	7.0		$	(22.2)
Non-operating expense (income)(1)	0.9			0.1			(0.3)			—			1.8
EBIT	358.0			58.9			8.2			7.0			(24.0)
Exit and disposal, and facility rationalization costs	—			—			0.7			—			—
Inventory step-up amortization and transaction costs	—			0.1			—			—			0.7
(Gains) losses from acquisitions and disposals	(0.1)			—			0.2			—			—
(Gains) losses from litigation	—			—			(0.1)			—			0.1
Total non-comparable items	(0.1)			0.1			0.8			—			0.8
Adjusted EBIT	357.9			59.0			9.0			7.0			(23.2)
Depreciation	9.3			6.4			6.1			1.4			0.8
Amortization	4.1			18.1			11.9			3.8			0.6
Adjusted EBITDA	$	371.3		$	83.5		$	27.0		$	12.2		$	(21.8)
Divided by:
Total revenues	$	1,113.4		$	448.9		$	212.6		$	72.0		$	—
Adjusted EBITDA margin	33.3		%	18.6		%	12.7		%	16.9		%	NM

(1)Includes other non-operating (income) expense, which may be presented in separate line items on the Condensed Consolidated Statements of Income and Comprehensive Income.

	Three Months Ended June 30, 2021
(in millions)	CCM			CWT			CIT			CFT			Corporate and unallocated
Operating income (loss) (GAAP)	$	155.0		$	22.4		$	(12.9)		$	6.6		$	(37.3)
Non-operating expense (income)(1)	—			0.1			—			1.1			(0.1)
EBIT	155.0			22.3			(12.9)			5.5			(37.2)
Exit and disposal, and facility rationalization costs	—			—			7.7			(0.2)			—
Inventory step-up amortization and transaction costs	—			—			—			—			1.3
(Gains) losses from acquisitions and disposals	(0.1)			—			—			0.2			—
Losses from insurance	0.3			0.2			—			—			—
Losses from litigation	—			—			—			—			0.1
Total non-comparable items	0.2			0.2			7.7			—			1.4
Adjusted EBIT	155.2			22.5			(5.2)			5.5			(35.8)
Depreciation	9.1			2.9			6.0			1.4			0.9
Amortization	4.0			7.5			12.7			4.5			0.5
Adjusted EBITDA	$	168.3		$	32.9		$	13.5		$	11.4		$	(34.4)
Divided by:
Total revenues	$	722.8		$	214.5		$	168.9		$	71.6		$	—
Adjusted EBITDA margin	23.3		%	15.3		%	8.0		%	15.9		%	NM

(1)Includes other non-operating (income) expense, which may be presented in separate line items on the Condensed Consolidated Statements of Income and Comprehensive Income.

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	Six Months Ended June 30, 2022
(in millions)	CCM			CWT			CIT			CFT			Corporate and unallocated
Operating income (loss) (GAAP)	$	620.0		$	96.5		$	5.4		$	11.8		$	(45.8)
Non-operating expense (income)(1)	0.9			0.2			(0.8)			0.1			2.2
EBIT	619.1			96.3			6.2			11.7			(48.0)
Exit and disposal, and facility rationalization costs	—			0.1			2.7			—			—
Inventory step-up amortization and transaction costs	—			—			—			—			0.8
Impairment charges	—			0.2			—			—			—
(Gains) losses from acquisitions and disposals	(0.1)			—			0.4			0.1			—
Losses from insurance	—			0.3			—			—			—
(Gains) losses from litigation	—			—			(0.1)			—			0.1
Total non-comparable items	(0.1)			0.6			3.0			0.1			0.9
Adjusted EBIT	619.0			96.9			9.2			11.8			(47.1)
Depreciation	18.5			12.7			12.2			2.9			1.7
Amortization	9.1			37.0			24.0			8.0			1.1
Adjusted EBITDA	$	646.6		$	146.6		$	45.4		$	22.7		$	(44.3)
Divided by:
Total revenues	$	1,994.5		$	808.0		$	397.6		$	143.1		$	—
Adjusted EBITDA margin	32.4		%	18.1		%	11.4		%	15.9		%	NM

(1)Includes other non-operating expense (income), which may be presented in separate line items on the Condensed Consolidated Statements of Income and Comprehensive Income.

	Six Months Ended June 30, 2021
(in millions)	CCM			CWT			CIT			CFT			Corporate and unallocated
Operating income (loss) (GAAP)	$	265.7		$	33.0		$	(23.6)		$	10.9		$	(67.5)
Non-operating expense(1)	2.3			—			—			1.5			0.9
EBIT	263.4			33.0			(23.6)			9.4			(68.4)
Exit and disposal, and facility rationalization costs	—			—			10.2			0.4			—
Inventory step-up amortization and transaction costs	—			—			—			0.1			2.1
Losses from acquisitions and disposals	2.2			—			0.3			0.2			0.8
Losses from insurance	0.3			0.2			—			—			—
Losses from litigation	—			—			—			—			0.1
Total non-comparable items	2.5			0.2			10.5			0.7			3.0
Adjusted EBIT	265.9			33.2			(13.1)			10.1			(65.4)
Depreciation	18.3			5.6			12.3			2.6			1.8
Amortization	8.0			15.0			25.3			8.9			1.0
Adjusted EBITDA	$	292.2		$	53.8		$	24.5		$	21.6		$	(62.6)
Divided by:
Total revenues	$	1,279.2		$	377.4		$	324.7		$	137.4		$	—
Adjusted EBITDA margin	22.8		%	14.3		%	7.5		%	15.7		%	NM

(1)Includes other non-operating expense (income), which may be presented in separate line items on the Condensed Consolidated Statements of Income and Comprehensive Income.

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Outlook

Our expectations for segment and total revenues for 2022, compared to 2021 follow:

	2022 Revenue	Primary Drivers
Carlisle Construction Materials	~40% growth	•Proactive pricing measures gaining traction •Strong re-roofing demand •Increasing demand for energy-efficient building products
Carlisle Weatherproofing Technologies	~60% growth	•Henry acquisition •Strong demand in all product lines
Carlisle Interconnect Technologies	~20% growth	•Growing commercial aerospace and medical backlogs
Carlisle Fluid Technologies	~10% growth	•Focus on new product introductions and price discipline •Markets strengthening
Total Carlisle	Over 40% growth

For the year 2022, we expect:

•Corporate expenses of approximately $110 million;

•Depreciation and amortization expense of approximately $250 million;

•Capital expenditures of approximately $175 million;

•Interest expense, net of interest income, of approximately $90 million; and

•Base tax rate of approximately 24-25%.

Forward-Looking Statements

This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the potential or expected impacts of the global COVID-19 pandemic. Forward-looking statements generally use words such as "expect," "foresee," "anticipate," "believe," "project," "should," "estimate," "will," "plans," "intends," "forecast," and similar expressions, and reflect our expectations concerning the future. Such statements are made based on known events and circumstances at the time of publication and, as such, are subject in the future to unforeseen risks and uncertainties. It is possible that our future performance may differ materially from current expectations expressed in these forward-looking statements, due to a variety of factors such as: risks from the global COVID-19 pandemic, including, for example, expectations regarding the impact of the COVID-19 pandemic on our businesses, including on customer demand, supply chains and distribution systems, production, our ability to maintain appropriate labor levels, our ability to ship products to our customers, our future results, or our full-year financial outlook; increasing price and product/service competition by foreign and domestic competitors, including new entrants; technological developments and changes; the ability to continue to introduce competitive new products and services on a timely, cost-effective basis; our mix of products/services; increases in raw material costs that cannot be recovered in product pricing; domestic and foreign governmental and public policy changes including environmental and industry regulations; threats associated with and efforts to combat terrorism; protection and validity of patent and other intellectual property rights; the identification of strategic acquisition targets and our successful completion of any transaction and integration of our strategic acquisitions; our successful completion of strategic dispositions; the cyclical nature of our businesses; the impact of information technology, cybersecurity or data security breaches at our businesses or third parties; and the outcome of pending and future litigation and governmental proceedings; and the other factors discussed in the reports we file with or furnish to the Securities and Exchange Commission from time to time. In addition, such statements could be affected by general industry and market conditions and growth rates, the condition of the financial and credit markets and general domestic and international economic conditions, including inflation and interest rate and currency exchange rate fluctuations. Further, any conflict in the international arena, including the Russian invasion of Ukraine, may adversely affect general market conditions and our future performance. Any forward-looking statement speaks only as of the date on which that statement is made, and we undertake no duty to update any forward-looking statement to reflect events or circumstances, including unanticipated events, after the date on which that statement is made, unless otherwise required by law. New factors emerge from time to time and it is not possible for management to predict all of those factors, nor can it assess the impact of each of those factors on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statement.

33

Item 3. Quantitative and Qualitative Disclosure about Market Risk

There have been no material changes in the Company’s market risk for the six months ended June 30, 2022. For additional information, refer to "PART II—Item 7A. Quantitative and Qualitative Disclosures About Market Risk" of the Company’s 2021 Annual Report on Form 10-K.

Item 4. Controls and Procedures

a.Evaluation of disclosure controls and procedures. Under the supervision and with the participation of the Company’s management, including the Company’s Chief Executive Officer and Chief Financial Officer, the Company carried out an evaluation of the effectiveness of the design and operation of the Company’s disclosure controls and procedures pursuant to Exchange Act Rule 13a-15. Based upon that evaluation and as of June 30, 2022, the Chief Executive Officer and Chief Financial Officer concluded that the Company’s disclosure controls and procedures are effective.

b.Changes in internal controls. During third quarter of 2021, the Company completed its acquisition of ASP Henry Holdings, Inc. (“Henry”). This acquisition is material to the Company's results of operations, financial position and cash flows. Refer to Note 3 for additional information regarding the Henry acquisition.

The Company is currently in the process of integrating Henry, including internal controls and procedures and extending its Sarbanes-Oxley Act Section 404 compliance program to include Henry. The Company anticipates a successful integration of Henry's operations and internal controls and procedures and will continue to evaluate its internal control over financial reporting as the Company executes integration activities. The Company's assessment of the effectiveness of controls and procedures for the year ended December 31, 2022, will include Henry.

During the first the first six months of months of 2022, there were no changes in the Company's internal control over financial reporting that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

PART II—Other Information

Item 1. Legal Proceedings

The Company is a party to certain lawsuits in the ordinary course of business. Information about legal proceedings is included in Note 15.

Item 1A. Risk Factors

There have been no material changes in the Company's risk factors disclosed in "PART I—Item 1A. Risk Factors" in our 2021 Annual Report on Form 10-K.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

The following table summarizes the repurchase of common stock during the three months ended June 30, 2022:

(in millions, except per share amounts)	Total Number of Shares Purchased(1)	Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Number of Shares that May Yet Be Purchased Under the Plans or Programs(2)
April	0.2	$	245.64	0.2	4.3
May	—	—		—	4.3
June	—	—		—	4.3
Total	0.2			0.2

(1)The Company may also reacquire shares outside of the repurchase program from time to time in connection with the forfeiture of shares in satisfaction of tax withholding obligations from the vesting of share-based compensation. During the three months ended June 30, 2022, there less than 0.1 million shares reacquired in transactions outside of the share repurchase program.

(2)Represents the remaining total number of shares that can be repurchased under the Company’s share repurchase program. On February 2, 2021, the Company's Board of Directors approved a 5 million share increase in the Company's share repurchase program. The share repurchase program has no expiration date, does not obligate the Company to purchase any specified amount of shares and remains subject to the discretion of the Board of Directors.

34

Item 3. Defaults Upon Senior Securities

Not applicable.

Item 4. Mine Safety Disclosures

Not applicable.

Item 5. Other Information

None.

Item 6. Exhibits

Exhibit Number		Filed with this Form 10-Q	Incorporated by Reference
	Exhibit Title		Form	Date Filed
3.1	Amended and Restated Certificate of Incorporation of Carlisle Companies Incorporated.		8-K	5/5/2022
3.2	Amended and Restated Bylaws of Carlisle Companies Incorporated.		8-K	5/5/2022
10.1*	Carlisle Companies Incorporated Incentive Compensation Program, as amended and restated effective January 1, 2022.		8-K	5/2/2022
31.1	Certification of Principal Executive Officer pursuant to Rule 13a-14(a)/15d-14(a).	X
31.2	Certification of Principal Financial Officer pursuant to Rule 13a-14(a)/15d-14(a).	X
32.1	Section 1350 Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.	X
101.INS	Inline XBRL Instance.	X
101.SCH	Inline XBRL Taxonomy Extension Schema.	X
101.CAL	Inline XBRL Taxonomy Extension Calculation.	X
101.LAB	Inline XBRL Taxonomy Extension Labels.	X
101.PRE	Inline XBRL Taxonomy Extension Presentation.	X
101.DEF	Inline XBRL Taxonomy Extension Definition.	X
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).	X

* Management contract or compensation plan or arrangement in which directors or executive officers are eligible to participate.

35

Signature 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		CARLISLE COMPANIES INCORPORATED
Date:	July 28, 2022	By:	/s/ Kevin P. Zdimal
			Kevin P. Zdimal
			Vice President and Chief Financial Officer

36

EX-31.1

Exhibit 31.1

Rule 13a-14(a)/15d-14(a) Certifications

I, D. Christian Koch, certify that:

1.    I have reviewed this quarterly report on Form 10-Q of Carlisle Companies Incorporated;

2.    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have: 

a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c.Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d.Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	July 28, 2022	By:	/s/ D. Christian Koch
			D. Christian Koch
			President, Chief Executive Officer and Chairman of the Board

EX-31.2

Exhibit 31.2

Rule 13a-14(a)/15d-14(a) Certifications

I, Kevin P. Zdimal, certify that:

1.    I have reviewed this quarterly report on Form 10-Q of Carlisle Companies Incorporated;

2.    Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.    Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4.    The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c.Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d.Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5.    The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date:	July 28, 2022	By:	/s/ Kevin P. Zdimal
			Kevin P. Zdimal
			Vice President and Chief Financial Officer

EX-32.1

Exhibit 32.1

Section 1350 Certification

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of Section 1350, Chapter 63 of Title 18, United States Code), each of the undersigned officers of Carlisle Companies Incorporated, a Delaware corporation (the “Company”), does hereby certify that:

The Quarterly Report on Form 10-Q for the period ended June 30, 2022 (the “Form 10-Q”) of the Company fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement required by Section 906, has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

Date:	July 28, 2022	By:	/s/ D. Christian Koch
			D. Christian Koch
			President, Chief Executive Officer and Chairman of the Board
Date:	July 28, 2022	By:	/s/ Kevin P. Zdimal
			Kevin P. Zdimal
			Vice President and Chief Financial Officer

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Cover - shares	6 Months Ended
	Jun. 30, 2022	Jul. 21, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	1-9278
Entity Registrant Name	CARLISLE COMPANIES INCORPORATED
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	31-1168055
Entity Address, Address Line One	16430 North Scottsdale Road
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Scottsdale
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85254
City Area Code	(480)
Local Phone Number	781-5000
Title of 12(b) Security	Common stock, $1 par value
Trading Symbol	CSL
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		51,724,287
Entity Central Index Key	0000790051
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2

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Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Condensed Consolidated Statements of Operations and Comprehensive (Loss) Income
Revenues	$ 1,846.9	$ 1,177.8	$ 3,343.2	$ 2,118.7
Cost of goods sold	1,214.9	870.1	2,220.3	1,566.1
Selling and administrative expenses	210.6	161.3	413.6	312.1
Research and development expenses	12.6	13.8	24.9	24.2
Other operating income, net	(1.8)	(1.2)	(3.5)	(2.2)
Operating income	410.6	133.8	687.9	218.5
Interest expense, net	22.4	19.2	45.0	38.4
Interest income	(0.6)	(0.4)	(0.8)	(0.9)
Other non-operating expense, net	2.5	1.1	2.6	4.7
Income from continuing operations before income taxes	386.3	113.9	641.1	176.3
Provision for income taxes	90.4	19.8	150.9	33.1
Income from continuing operations	295.9	94.1	490.2	143.2
Discontinued operations:
Income before income taxes	4.8	6.3	4.1	10.8
(Benefit from) provision for income taxes	(0.8)	1.1	(0.8)	2.5
Income from discontinued operations	5.6	5.2	4.9	8.3
Net income	$ 301.5	$ 99.3	$ 495.1	$ 151.5
Basic earnings per share attributable to common shares:
Income from continuing operations (in dollars per share)	$ 5.70	$ 1.79	$ 9.41	$ 2.71
Income from discontinued operations (in dollars per share)	0.11	0.10	0.09	0.16
Basic earnings per share (in dollars per share)	5.81	1.89	9.50	2.87
Diluted earnings per share attributable to common shares:
Income from continuing operations (in dollars per share)	5.62	1.77	9.28	2.68
Income from discontinued operations (in dollars per share)	0.11	0.10	0.09	0.16
Diluted earnings per share (in dollars per share)	$ 5.73	$ 1.87	$ 9.37	$ 2.84
Average shares outstanding:
Basic (in shares)	51.8	52.3	52.0	52.7
Diluted (in shares)	52.5	53.0	52.7	53.3
Comprehensive income:
Net income	$ 301.5	$ 99.3	$ 495.1	$ 151.5
Other comprehensive income (loss):
Foreign currency (losses) gains	(40.8)	6.8	(37.3)	(6.5)
Amortization of unrecognized net periodic benefit costs, net of tax	1.0	1.2	2.0	2.4
Other, net of tax	(1.0)	0.3	(1.7)	(1.7)
Other comprehensive (loss) income	(40.8)	8.3	(37.0)	(5.8)
Comprehensive income	$ 260.7	$ 107.6	$ 458.1	$ 145.7

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 353.2	$ 324.4
Receivables, net of allowance for credit losses of $5.7 million and $5.3 million, respectively	1,179.0	814.6
Inventories, net	780.9	605.1
Contract assets	78.5	72.1
Prepaid expenses	32.2	49.9
Other current assets	108.8	284.8
Total current assets	2,532.6	2,150.9
Property, plant, and equipment, net	785.1	759.9
Goodwill, net	2,201.6	2,199.0
Other intangible assets, net	1,930.4	2,008.7
Other long-term assets	128.0	128.3
Total assets	7,577.7	7,246.8
Current liabilities:
Accounts payable	549.6	432.4
Current portion of debt	352.2	352.0
Accrued and other current liabilities	320.0	351.2
Contract liabilities	37.9	33.9
Total current liabilities	1,259.7	1,169.5
Long-term liabilities:
Long-term debt, less current portion	2,577.7	2,575.4
Contract liabilities	255.8	250.0
Other long-term liabilities	609.4	622.4
Total long-term liabilities	3,442.9	3,447.8
Stockholders' equity:
Preferred stock, $1 par value per share (5.0 shares authorized and unissued)	0.0	0.0
Common stock, $1 par value per share (200.0 shares authorized; 51.5 and 52.0 shares outstanding, respectively)	78.7	78.7
Additional paid-in capital	490.9	481.5
Treasury shares, at cost (26.9 and 26.4 shares, respectively)	(2,228.4)	(2,063.2)
Accumulated other comprehensive loss	(142.2)	(105.2)
Retained earnings	4,676.1	4,237.7
Total stockholders' equity	2,875.1	2,629.5
Total liabilities and equity	$ 7,577.7	$ 7,246.8

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Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Receivables allowance	$ 5.7	$ 5.3
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, authorized shares (in shares)	5,000,000	5,000,000
Preferred stock, unissued shares (in shares)	5,000,000	5,000,000
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, authorized shares (in shares)	200,000,000	200,000,000
Common stock, shares outstanding (in shares)	51,500,000	52,000,000
Treasury, shares (in shares)	26,900,000	26,400,000

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Operating activities:
Net income	$ 495.1	$ 151.5
Reconciliation of net income to net cash provided by operating activities:
Depreciation	48.0	46.3
Amortization	79.2	60.8
Lease expense	14.2	13.5
Stock-based compensation	15.8	8.7
Deferred taxes	0.4	0.7
Other operating activities, net	3.0	9.5
Changes in assets and liabilities, excluding effects of acquisitions:
Receivables	(372.2)	(190.7)
Inventories	(184.4)	(40.6)
Contract assets	(6.5)	13.7
Prepaid expenses and other assets	33.4	16.3
Accounts payable	121.2	118.3
Accrued and other current liabilities	(7.3)	(20.9)
Contract liabilities	10.4	6.8
Other long-term liabilities	(26.8)	(22.4)
Net cash provided by operating activities	223.5	171.5
Investing activities:
Proceeds from sale of discontinued operation, net of cash disposed	132.0	0.0
Capital expenditures	(82.7)	(55.1)
Acquisitions, net of cash acquired	(24.7)	0.0
Investment in securities	10.3
Investment in securities		(10.2)
Other investing activities, net	2.0	1.8
Net cash provided by (used in) investing activities	36.9	(63.5)
Financing activities:
Repurchases of common stock	(175.0)	(265.6)
Dividends paid	(56.7)	(56.0)
Proceeds from exercise of stock options	16.0	45.6
Withholding tax paid related to stock-based compensation	(12.5)	(7.7)
Other financing activities, net	(1.7)	(0.8)
Net cash used in financing activities	(229.9)	(284.5)
Effect of foreign currency exchange rate changes on cash and cash equivalents	(1.7)	(0.3)
Change in cash and cash equivalents	28.8	(176.8)
Less: change in cash and cash equivalents of discontinued operations	0.0	7.0
Cash and cash equivalents at beginning of period	324.4	897.1
Cash and cash equivalents at end of period	$ 353.2	$ 713.3

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Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) - USD ($) shares in Millions, $ in Millions		Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings	Shares in Treasury
Balance at beginning (in shares) at Dec. 31, 2020			52.9
Balance at the beginning of the period at Dec. 31, 2020		$ 2,537.7	$ 78.7	$ 441.7	$ (97.0)	$ 3,928.7	$ (1,814.4)
Balance at beginning (in shares) at Dec. 31, 2020							(25.5)
Increase (Decrease) in Shareholders' Equity
Net income		151.5				151.5
Other comprehensive income (loss), net of tax		(5.8)			(5.8)
Dividends		(56.0)				(56.0)
Repurchases of common stock (in shares)			1.6				1.6
Repurchases of common stock		(265.6)					$ (265.6)
Issuances and deferrals, net for stock-based compensation (in shares)	[1]		(0.6)				(0.6)
Issuances and deferrals. net for stock-based compensation	[1]	56.1		18.4			$ 37.7
Balance at ending (in shares) at Jun. 30, 2021			51.9
Balance at the end of the period at Jun. 30, 2021		2,417.9	$ 78.7	460.1	(102.8)	4,024.2	$ (2,042.3)
Balance at ending (in shares) at Jun. 30, 2021							(26.5)
Balance at beginning (in shares) at Mar. 31, 2021			52.1
Balance at the beginning of the period at Mar. 31, 2021		2,411.8	$ 78.7	443.4	(111.1)	3,952.4	$ (1,951.6)
Balance at beginning (in shares) at Mar. 31, 2021							(26.3)
Increase (Decrease) in Shareholders' Equity
Net income		99.3				99.3
Other comprehensive income (loss), net of tax		8.3			8.3
Dividends		(27.5)				(27.5)
Repurchases of common stock (in shares)			0.6				0.6
Repurchases of common stock		(115.6)					$ (115.6)
Issuances and deferrals, net for stock-based compensation (in shares)	[1]		(0.4)				(0.4)
Issuances and deferrals. net for stock-based compensation	[1]	41.6		16.7			$ 24.9
Balance at ending (in shares) at Jun. 30, 2021			51.9
Balance at the end of the period at Jun. 30, 2021		$ 2,417.9	$ 78.7	460.1	(102.8)	4,024.2	$ (2,042.3)
Balance at ending (in shares) at Jun. 30, 2021							(26.5)
Balance at beginning (in shares) at Dec. 31, 2021		52.0	52.0
Balance at the beginning of the period at Dec. 31, 2021		$ 2,629.5	$ 78.7	481.5	(105.2)	4,237.7	$ (2,063.2)
Balance at beginning (in shares) at Dec. 31, 2021		(26.4)					26.4
Increase (Decrease) in Shareholders' Equity
Net income		$ 495.1				495.1
Other comprehensive income (loss), net of tax		(37.0)			(37.0)
Dividends		(56.7)				(56.7)
Repurchases of common stock (in shares)			0.7				0.7
Repurchases of common stock		(175.0)					$ (175.0)
Issuances and deferrals, net for stock-based compensation (in shares)	[1]		(0.2)				(0.2)
Issuances and deferrals. net for stock-based compensation	[1]	$ 19.2		9.4			$ 9.8
Balance at ending (in shares) at Jun. 30, 2022		51.5	51.5
Balance at the end of the period at Jun. 30, 2022		$ 2,875.1	$ 78.7	490.9	(142.2)	4,676.1	$ (2,228.4)
Balance at ending (in shares) at Jun. 30, 2022		(26.9)					(26.9)
Balance at beginning (in shares) at Mar. 31, 2022			51.6
Balance at the beginning of the period at Mar. 31, 2022		$ 2,678.6	$ 78.7	483.5	(101.4)	4,402.6	$ (2,184.8)
Balance at beginning (in shares) at Mar. 31, 2022							26.8
Increase (Decrease) in Shareholders' Equity
Net income		301.5				301.5
Other comprehensive income (loss), net of tax		(40.8)			(40.8)
Dividends		(28.0)				(28.0)
Repurchases of common stock (in shares)			0.2				0.2
Repurchases of common stock		(50.0)					$ (50.0)
Issuances and deferrals, net for stock-based compensation (in shares)	[1]		(0.1)				(0.1)
Issuances and deferrals. net for stock-based compensation	[1]	$ 13.8		7.4			$ 6.4
Balance at ending (in shares) at Jun. 30, 2022		51.5	51.5
Balance at the end of the period at Jun. 30, 2022		$ 2,875.1	$ 78.7	$ 490.9	$ (142.2)	$ 4,676.1	$ (2,228.4)
Balance at ending (in shares) at Jun. 30, 2022		(26.9)					(26.9)

[1] Issuances and deferrals, net for stock-based compensation reflects share activity related to option exercises, restricted and performance shares vested, and net issuances and deferrals associated with deferred compensation equity.

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Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Statement of Stockholders' Equity [Abstract]
Cash dividends (in dollars per share)	$ 0.54	$ 0.525	$ 1.08	$ 1.05

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Basis of Presentation

6 Months Ended

Jun. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

Basis of Presentation

The accompanying unaudited Condensed Consolidated Financial Statements have been prepared by Carlisle Companies Incorporated (the "Company" or "Carlisle"). The accompanying unaudited Condensed Consolidated Financial Statements do not include all disclosures as required by accounting principles generally accepted in the United States of America ("United States" or "U.S."), and should be read in conjunction with the Company’s audited Consolidated Financial Statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 (the "2021 Annual Report on Form 10-K").

The accompanying unaudited Condensed Consolidated Financial Statements are prepared in conformity with accounting principles generally accepted in the U.S. and, of necessity, include some amounts that are based upon management estimates and judgments. The accompanying unaudited Condensed Consolidated Financial Statements include assets, liabilities, revenues and expenses of all majority-owned subsidiaries. Intercompany transactions and balances are eliminated in consolidation.

In the Company's opinion, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting solely of adjustments of a normal, recurring nature, necessary to present fairly the financial position, results of operations and cash flows for the periods presented.

On February 10, 2022, the Company announced that it had realigned its construction materials businesses into two segments organized around its products and applications for the sustainable building envelope. The two segments are Carlisle Construction Materials and Carlisle Weatherproofing Technologies. No changes have been made to either of the Company’s other two segments – Carlisle Interconnect Technologies or Carlisle Fluid Technologies. The Company has reclassified certain prior periods' amounts to conform with the current presentation by reportable segment in Note 2—Segment Information, Note 6—Revenue Recognition and Note 8—Exit and Disposal Activities as a result of the Company's change in management structure. Additionally, the Company has reclassified certain prior periods' amounts to conform with the current period presentation of the revenues by geographic area tables in Note 6—Revenue Recognition to present Middle East revenues combined with Asia, as opposed to the previous presentation combined with Africa.

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Segment Information

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Segment Information

Segment Information

The Company reports its results of operations through the following four segments, each of which represents a reportable segment as follows:

Carlisle Construction Materials ("CCM")—this segment produces a complete line of premium single-ply roofing products and warranted roof systems and accessories for the commercial building industry, including EPDM, TPO and PVC membrane, polyiso insulation, and engineered metal roofing and wall panel systems for commercial and residential buildings.

Carlisle Weatherproofing Technologies ("CWT")—this segment produces building envelope solutions that effectively drive energy efficiency and sustainability in commercial and residential applications. Products include high-performance waterproofing and moisture protection products, protective roofing underlayments, fully integrated liquid and sheet applied air/vapor barriers, sealants/primers and flashing systems, roof coatings and mastics, spray polyurethane foam and coating systems for a wide variety of thermal protection applications and other premium polyurethane products, block-molded expanded polystyrene insulation, engineered products for HVAC applications, and premium rubber products for a variety of industrial and surfacing applications.

Carlisle Interconnect Technologies ("CIT")—this segment produces high-performance wire and cable, including optical fiber, for the commercial aerospace, military and defense electronics, medical device, industrial, and test and measurement markets. CIT's product portfolio also includes sensors, connectors, contacts, cable assemblies, complex harnesses, racks, trays, and installation kits, in addition to engineering and certification services. CIT also provides medical device products and solutions for several medical technology applications.

Carlisle Fluid Technologies ("CFT")—this segment produces highly engineered liquid, powder, sealants and adhesives finishing equipment and integrated system solutions for spraying, pumping, mixing, metering and curing of a variety of coatings used in the automotive manufacture, general industrial, protective coating, wood, specialty and automotive refinishing markets.

A summary of segment information follows:

	Three Months Ended June 30,
	2022				2021
(in millions)	Revenues		Operating Income (Loss)		Revenues		Operating Income (Loss)
Carlisle Construction Materials	$	1,113.4	$	358.9	$	722.8	$	155.0
Carlisle Weatherproofing Technologies	448.9		59.0		214.5		22.4
Carlisle Interconnect Technologies	212.6		7.9		168.9		(12.9)
Carlisle Fluid Technologies	72.0		7.0		71.6		6.6
Segment total	1,846.9		432.8		1,177.8		171.1
Corporate, unallocated and eliminations(1)	—		(22.2)		—		(37.3)
Total	$	1,846.9	$	410.6	$	1,177.8	$	133.8
	Six Months Ended June 30,
	2022				2021
(in millions)	Revenues		Operating Income (Loss)		Revenues		Operating Income (Loss)
Carlisle Construction Materials	$	1,994.5	$	620.0	$	1,279.2	$	265.7
Carlisle Weatherproofing Technologies	808.0		96.5		377.4		33.0
Carlisle Interconnect Technologies	397.6		5.4		324.7		(23.6)
Carlisle Fluid Technologies	143.1		11.8		137.4		10.9
Segment total	3,343.2		733.7		2,118.7		286.0
Corporate and unallocated(1)	—		(45.8)		—		(67.5)
Total	$	3,343.2	$	687.9	$	2,118.7	$	218.5

(1)Corporate operating loss includes other unallocated costs, primarily general corporate expenses.

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Acquisitions

6 Months Ended

Jun. 30, 2022

Business Combination and Asset Acquisition [Abstract]

Acquisitions

Acquisitions

MBTechnology

On February 1, 2022, the Company acquired 100% of the equity of MBTechnology (“MBTech”), for consideration of $26.3 million, including $1.6 million of cash acquired and post-closing adjustments, which were finalized in the second quarter of 2022. MBTech is a manufacturer of energy-efficient roofing and underlayment systems for residential and commercial applications.

In the three months ended June 30, 2022, and for the period from February 1, 2022 to June 30, 2022, the related product lines contributed revenues of $4.1 million and $6.1 million, respectively. The related product lines contributed operating income of $0.1 million for the period from February 1, 2022 to June 30, 2022. The results of operations of MBTech are reported within the CWT segment.

Consideration of $12.5 million has been allocated to goodwill, none of which is deductible for tax purposes. All of the goodwill was preliminarily assigned to the CCM reporting unit. Consideration of $7.9 million has been allocated to customer relationships, with a useful life of nine years, $3.4 million to plant, property and equipment, $2.8 million to inventory, $0.8 million to accounts receivable and $0.5 million to accounts payable.

ASP Henry Holdings, Inc.

On September 1, 2021, the Company acquired ASP Henry Holdings, Inc. (“Henry”), a provider of building envelope systems for consideration of $1,605.6 million, including $34.3 million of cash acquired and post-closing adjustments, which were finalized in the fourth quarter of 2021. The Company funded the acquisition with borrowings from its Revolving Credit Facility (the "Facility") and cash on hand. The Company subsequently repaid the borrowings from the Facility with proceeds from its September 2021 public offering of $300.0 million in aggregate principal amount of its 0.55% senior notes due in September 2023 and $550.0 million in aggregate principal amount of its 2.20% senior notes due in March 2032 (refer to Note 12).

The Henry amounts included in the pro forma financial information below are based on Henry’s historical results and therefore may not be indicative of the actual results if Henry had been owned by the Company on January 1, 2020. The pro forma adjustments represent management’s best estimates based on information available at the time the pro forma information was prepared and may differ from the adjustments that may have been required had the

Company owned Henry on January 1, 2020. Accordingly, pro forma information should not be relied upon as being indicative of the historical results that would have been realized had the acquisition occurred as of January 1, 2020 or the results that may be achieved in the future.

The unaudited combined pro forma financial information presented below includes revenues and income from continuing operations, net of tax, of the Company as if the business combination had occurred on January 1, 2020, based on the purchases price allocation presented below:

	Unaudited Pro Forma
(in millions)	Three Months Ended June 30, 2021		Six Months Ended June 30, 2021
Revenues	$	1,324.3	$	2,378.9
Income from continuing operations	100.5		150.0

The pro forma financial information reflects adjustments to Henry's historical financial information to apply the Company's accounting policies and to reflect the additional depreciation and amortization related to the preliminary fair value adjustments of the acquired net assets of $14.4 million in the three months ended June 30, 2021 and $28.8 million in the six months ended June 30, 2021, together with the associated tax effects.

The following table summarizes the consideration transferred to acquire Henry and the preliminary allocation of the purchase price among the assets acquired and liabilities assumed. The acquisition has been accounted for using the acquisition method of accounting in accordance with Accounting Standards Codification 805, Business Combinations, which requires that consideration be allocated to the acquired assets and assumed liabilities based upon their acquisition date fair values with the remainder allocated to goodwill. The fair values are preliminary and subject to change pending receipt of the final valuation for all acquired assets and liabilities.

	Preliminary Allocation		Measurement Period Adjustments		Preliminary Allocation
(in millions)	As of 9/1/2021				As of 6/30/2022
Total cash consideration transferred	$	1,608.2	$	(2.6)	$	1,605.6
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	34.3		—		34.3
Receivables, net	79.0		—		79.0
Inventories	59.4		(7.9)		51.5
Prepaid expenses and other current assets	10.5		0.2		10.7
Property, plant and equipment	53.6		8.2		61.8
Intangible assets	735.1		445.9		1,181.0
Other long-term assets	3.6		8.3		11.9
Accounts payable	(77.9)		2.2		(75.7)
Accrued and other current liabilities	(28.7)		(0.4)		(29.1)
Short-term debt	(1.0)		—		(1.0)
Contract liabilities	(2.6)		—		(2.6)
Other long-term debt	(0.8)		—		(0.8)
Other long-term liabilities	(5.9)		(9.8)		(15.7)
Deferred income taxes	(153.4)		(107.8)		(261.2)
Total identifiable net assets	705.2		338.9		1,044.1
Goodwill	$	903.0	$	(341.5)	$	561.5

The goodwill recognized in the acquisition of Henry is attributable to its significant supply chain efficiencies, other administrative opportunities and the strategic value of the business to Carlisle, in addition to opportunities for product line expansions. The Company acquired $81.9 million of gross contractual accounts receivable, of which $2.9 million was not expected to be collected at the date of acquisition. Goodwill of $50.9 million is tax deductible in the United States. All of the goodwill was preliminarily assigned to the CCM reporting unit.

The preliminary fair value and weighted average useful lives of the acquired intangible assets are as follows:

(in millions)	Fair Value		Weighted Average Useful Life (in years)
Customer relationships	$	914.0	18
Technologies	46.5		11
Software	0.1		4
Indefinite-lived trade name	220.4		N/A
Total	$	1,181.0

The Company has also recorded, as part of the purchase price allocation, deferred tax liabilities primarily related to intangible assets of approximately $261.2 million.

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Discontinued Operations

6 Months Ended

Jun. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

On August 2, 2021, the Company completed the sale of the equity interests and assets comprising the Carlisle Brake & Friction ("CBF") segment for gross proceeds of (i) $250 million at closing, subject to certain adjustments, and (ii) the right to receive up to an additional $125 million based on CBF's achievement of certain performance targets. On February 23, 2022, the Company received $125 million in cash for the full amount of the contingent consideration. The sale of CBF is consistent with the Company's optimization strategy, as laid out in Vision 2025.

A summary of the results from discontinued operations included in the Condensed Consolidated Statements of Income and Comprehensive Income follows:

(in millions)	Three Months Ended June 30,			Six Months Ended June 30,
		2021			2021
Revenues		$	98.8		$	186.9
Cost of goods sold		76.1			147.4
Other operating expenses, net		11.8			23.8
Operating income		10.9			15.7
Other non-operating (income) expense, net		(0.1)			0.2
Income from discontinued operations before income taxes and loss on sale		11.0			15.5
Pre-close transaction expenses(1)		4.7			4.7
Income from discontinued operations before income taxes		6.3			10.8
Provision for income taxes		1.1			2.5
Income from discontinued operations		$	5.2		$	8.3

(1)Includes legal fees and stock-compensation expense directly related to the sale incurred prior to the closing of the transaction.

Income from discontinued operations in the second quarter and the first six months of 2022 primarily reflects a gain on the sale of real estate associated with the 2021 sale of the equity interests and assets comprising the CBF segment.

A summary of cash flows from discontinued operations included in the Condensed Consolidated Statements of Cash Flows for the six months ended June 30, follows:

(in millions)	2022		2021
Net cash (used in) provided by operating activities	$	(2.1)	$	10.8
Net cash provided by (used in) investing activities	132.0		(5.6)
Net cash (used in) provided by financing activities(1)	(129.9)		1.8
Change in cash and cash equivalents from discontinued operations	$	—	$	7.0

(1)Represents (repayments) or borrowings from the Carlisle cash pool to fund working capital and capital expenditures and return of capital upon sale

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Earnings Per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per ShareThe Company’s restricted shares contain non-forfeitable rights to dividends and are considered participating securities for purposes of computing earnings per share pursuant to the two-class method. The computation below

of earnings per share excludes income attributable to the unvested restricted shares from the numerator and excludes the dilutive impact of those underlying shares from the denominator.

The computation below of earnings per share includes the income attributable to the vested and deferred restricted shares and restricted stock units in the numerator and includes the dilutive impact of those underlying shares in the denominator.

Stock options are included in the calculation of diluted earnings per share utilizing the treasury stock method and performance share awards are included in the calculation of diluted earnings per share considering those are contingently issuable. Neither is considered to be a participating security as they do not contain non-forfeitable dividend rights.

Income from continuing operations and share data used in the basic and diluted earnings per share computations using the two-class method follows:

		Three Months Ended June 30,						Six Months Ended June 30,
(in millions, except per share amounts)		2022			2021			2022			2021
Income from continuing operations		$	295.9		$	94.1		$	490.2		$	143.2
Less: dividends declared		(28.0)			(27.5)			(56.7)			(56.0)
Undistributed earnings		267.9			66.6			433.5			87.2
Percent allocated to common stockholders (1)		99.7		%	99.7		%	99.7		%	99.7		%
Undistributed earnings allocated to common stockholders		267.2			66.4			432.4			86.9
Add: dividends declared to common shares, restricted share units and vested and deferred restricted and performance shares		27.9			27.5			56.6			55.9
Income from continuing operations attributable to common stockholders		$	295.1		$	93.9		$	489.0		$	142.8
Shares:
Basic weighted-average shares outstanding		51.8			52.3			52.0			52.7
Effect of dilutive securities:
Performance awards		0.2			0.2			0.2			0.1
Stock options		0.5			0.5			0.5			0.5
Diluted weighted-average shares outstanding		52.5			53.0			52.7			53.3
Per share income from continuing operations attributable to common shares:
Basic		$	5.70		$	1.79		$	9.41		$	2.71
Diluted		$	5.62		$	1.77		$	9.28		$	2.68
(1)	Basic weighted-average shares outstanding	51.8			52.3			52.0			52.7
	Basic weighted-average shares outstanding and unvested restricted shares expected to vest	51.9			52.5			52.1			52.8
	Percent allocated to common stockholders	99.7		%	99.7		%	99.7		%	99.7		%

To calculate earnings per share for income from discontinued operations and for net income, the denominator for both basic and diluted earnings per share is the same as used in the above table.

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2022		2021		2022		2021
Income from discontinued operations attributable to common stockholders for basic and diluted earnings per share	$	5.6	$	5.2	$	4.9	$	8.3
Net income attributable to common stockholders for basic and diluted earnings per share	300.8		99.2		493.9		151.1
Anti-dilutive stock options excluded from earnings per share calculation(1)	0.2		—		0.2		0.3

(1)Represents stock options excluded from the calculation of diluted earnings per share, as such options’ assumed proceeds upon exercise would result in the repurchase of more shares than the underlying award.

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Revenue Recognition

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

The Company receives payment at the inception of the contract for separately priced extended service warranties, and revenue is deferred and recognized on a straight-line basis over the life of the contracts. Remaining performance obligations for extended service warranties represent the transaction price for the remaining stand-ready obligation to perform warranty services. A summary of estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied as of June 30, 2022, follows:

(in millions)	Remainder of 2022		2023		2024		2025		2026		2027		Thereafter
Extended service warranties	$	12.3	$	23.5	$	22.5	$	21.5	$	20.6	$	19.5	$	159.4

The Company has applied the practical expedient to not disclose information about remaining performance obligations that have original expected durations of one year or less.

Contract Balances

Contract liabilities relate to payments received in advance of performance under a contract, primarily related to extended service warranties in the CCM and CWT segments, systems contracts in the CFT segment and highly customized product contracts in the CIT segment. Contract liabilities are recognized as revenue as (or when) the Company performs under the contract. A summary of the change in contract liabilities for the six months ended June 30, follows:

(in millions)	2022		2021
Balance as of January 1	$	283.9	$	268.3
Revenue recognized	(38.1)		(32.0)
Revenue deferred	47.9		38.7
Balance as of June 30	$	293.7	$	275.0

Contract assets relate to the Company's right to payment for performance completed to date under a contract, primarily related to highly customized product contracts within the CIT and CFT segments. Accounts receivable are recorded when the right to payment becomes unconditional, which generally occurs over twelve months or less. A summary of the change in contract assets for the six months ended June 30, follows:

(in millions)	2022		2021
Balance as of January 1	$	72.1	$	84.5
Balance as of June 30	78.5		71.5
Change in contract assets	$	6.4	$	(13.0)

Revenues by End-Market

A summary of revenues disaggregated by major end-market industries and reconciliation of disaggregated revenue by segment follows:

	Three Months Ended June 30, 2022
(in millions)	CCM		CWT		CIT		CFT		Total
General construction	$	1,113.4	$	368.9	$	—	$	—	$	1,482.3
Aerospace	—		—		94.6		—		94.6
Medical	—		—		78.1		—		78.1
Transportation	—		—		—		39.6		39.6
Heavy equipment	—		27.3		—		—		27.3
General industrial and other	—		52.7		39.9		32.4		125.0
Total revenues	$	1,113.4	$	448.9	$	212.6	$	72.0	$	1,846.9
	Three Months Ended June 30, 2021
(in millions)	CCM		CWT		CIT		CFT		Total
General construction	$	722.8	$	159.1	$	—	$	—	$	881.9
Aerospace	—		—		74.0		—		74.0
Medical	—		—		59.1		—		59.1
Transportation	—		—		—		35.9		35.9
Heavy equipment	—		22.9		—		—		22.9
General industrial and other	—		32.5		35.8		35.7		104.0
Total revenues	$	722.8	$	214.5	$	168.9	$	71.6	$	1,177.8

	Six Months Ended June 30, 2022
(in millions)	CCM		CWT		CIT		CFT		Total
General construction	$	1,994.5	$	667.2	$	—	$	—	$	2,661.7
Aerospace	—		—		177.9		—		177.9
Medical	—		—		142.7		—		142.7
Transportation	—		—		—		78.0		78.0
Heavy equipment	—		58.1		—		—		58.1
General industrial and other	—		82.7		77.0		65.1		224.8
Total revenues	$	1,994.5	$	808.0	$	397.6	$	143.1	$	3,343.2
	Six Months Ended June 30, 2021
(in millions)	CCM		CWT		CIT		CFT		Total
General construction	$	1,279.2	$	276.8	$	—	$	—	$	1,556.0
Aerospace	—		—		139.9		—		139.9
Medical	—		—		114.3		—		114.3
Transportation	—		—		—		69.7		69.7
Heavy equipment	—		43.2		—		—		43.2
General industrial and other	—		57.4		70.5		67.7		195.6
Total revenues	$	1,279.2	$	377.4	$	324.7	$	137.4	$	2,118.7

Revenues by Geographic Area

A summary of revenues based on the country to which the product was delivered and reconciliation of disaggregated revenue by segment follows:

	Three Months Ended June 30, 2022
(in millions)	CCM		CWT		CIT		CFT		Total
United States	$	1,009.4	$	403.8	$	150.2	$	36.1	$	1,599.5
International:
Europe	62.8		5.1		17.5		11.7		97.1
North America (excluding U.S.)	32.6		35.9		8.8		3.3		80.6
Asia and Middle East	5.0		1.9		27.2		19.5		53.6
Africa	0.5		0.5		3.2		0.2		4.4
Other	3.1		1.7		5.7		1.2		11.7
Total international	104.0		45.1		62.4		35.9		247.4
Total revenues	$	1,113.4	$	448.9	$	212.6	$	72.0	$	1,846.9
	Three Months Ended June 30, 2021
(in millions)	CCM		CWT		CIT		CFT		Total
United States	$	633.8	$	197.7	$	126.8	$	31.4	$	989.7
International:
Europe	61.9		2.2		16.3		13.6		94.0
North America (excluding U.S.)	22.5		8.7		2.5		2.8		36.5
Asia and Middle East	4.4		5.0		20.4		22.3		52.1
Africa	0.1		0.9		0.9		0.2		2.1
Other	0.1		—		2.0		1.3		3.4
Total international	89.0		16.8		42.1		40.2		188.1
Total revenues	$	722.8	$	214.5	$	168.9	$	71.6	$	1,177.8

	Six Months Ended June 30, 2022
(in millions)	CCM		CWT		CIT		CFT		Total
United States	$	1,796.9	$	722.3	$	280.1	$	69.5	$	2,868.8
International:
Europe	122.7		10.5		35.7		24.6		193.5
North America (excluding U.S.)	60.2		64.1		19.6		7.8		151.7
Asia and Middle East	7.7		4.8		46.5		38.8		97.8
Africa	1.2		2.7		5.9		0.4		10.2
Other	5.8		3.6		9.8		2.0		21.2
Total international	197.6		85.7		117.5		73.6		474.4
Total revenues	$	1,994.5	$	808.0	$	397.6	$	143.1	$	3,343.2
	Six Months Ended June 30, 2021
(in millions)	CCM		CWT		CIT		CFT		Total
United States	$	1,113.1	$	344.7	$	238.3	$	62.0	$	1,758.1
International:
Europe	116.2		8.5		30.7		26.1		181.5
North America (excluding U.S.)	37.9		16.9		7.0		5.3		67.1
Asia and Middle East	9.1		6.4		42.3		41.7		99.5
Africa	1.3		0.9		2.2		0.4		4.8
Other	1.6		—		4.2		1.9		7.7
Total international	166.1		32.7		86.4		75.4		360.6
Total revenues	$	1,279.2	$	377.4	$	324.7	$	137.4	$	2,118.7

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Stock-Based Compensation

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

Stock-Based Compensation

Stock-based compensation cost by award type follows:

(in millions)	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Stock option awards	$	2.3	$	2.3	$	5.4	$	5.9
Restricted stock awards	1.7		1.7		5.0		3.9
Performance share awards	2.2		1.8		5.4		4.3
Stock appreciation rights	—		5.9		—		9.0
Total stock-based compensation cost incurred	6.2		11.7		15.8		23.1
Capitalized cost during the period	—		(5.9)		—		(9.3)
Amortization of capitalized cost during the period	—		8.8		—		14.3
Total stock-based compensation expense	$	6.2	$	14.6	$	15.8	$	28.1

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Exit and Disposal and Other Restructuring Activities

6 Months Ended

Jun. 30, 2022

Restructuring and Related Activities [Abstract]

Exit and Disposal and Other Restructuring Activities

Exit and Disposal and Other Restructuring Activities

The Company has undertaken operational restructuring and other cost reduction actions to streamline processes and manage costs throughout various departments. These actions resulted in exit, disposal and employee termination benefit costs, primarily resulting from planned reductions in workforce, facility consolidation and relocation, and lease termination costs. The primary actions are discussed below by operating segment.

CIT

During the third quarter of 2021, the Company initiated plans to exit its manufacturing operations in Carlsbad, California, and relocate the majority of those operations to its existing facilities in North America. The project is estimated to take a remaining six to nine months to complete. During the three and six months ended June 30, 2022, exit and disposal costs totaled $0.4 million and $1.2 million, respectively, primarily for employee termination benefit costs and accelerated depreciation. Total exit and disposal costs are expected to approximate $4.8 million, with approximately $2.0 million costs remaining to be incurred, primarily in 2022.

In the fourth quarter of 2021, the Company completed its project to relocate its manufacturing operations in Kent, Washington, as a result of market declines resulting from the COVID-19 pandemic for cumulative exit and disposal costs of $14.2 million. During the three and six months ended June 30, 2021, exit and disposal costs totaled $4.5 million and $5.1 million, respectively, primarily for employee termination benefit costs.

Consolidated Summary

The Company's exit and disposal costs by activity follows:

(in millions)	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Accelerated depreciation and impairments	$	0.7	$	2.1	$	1.3	$	2.1
Employee severance and benefit arrangements	0.2		3.2		1.3		5.1
Facility cleanup costs	0.1		—		0.2		(1.0)
Lease termination costs	—		—		0.1		—
Relocation costs	—		0.2		—		0.3
Other restructuring costs	0.1		1.1		0.4		1.5
Total exit and disposal costs	$	1.1	$	6.6	$	3.3	$	8.0

The Company's exit and disposal costs by segment follows:

(in millions)	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Carlisle Interconnect Technologies	$	1.1	$	6.6	$	3.0	$	7.9
Carlisle Weatherproofing Technologies	—		—		0.3		—
Carlisle Fluid Technologies	—		—		—		0.1
Total exit and disposal costs	$	1.1	$	6.6	$	3.3	$	8.0

The Company's exit and disposal costs by financial statement line item follows:

(in millions)	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cost of goods sold	$	1.0	$	3.6	$	2.9	$	4.4
Selling and administrative expenses	0.1		2.8		0.4		3.4
Research and development expenses	—		0.2		—		0.2
Total exit and disposal costs	$	1.1	$	6.6	$	3.3	$	8.0

The Company's change in exit and disposal activities liability follows:

(in millions)	Total
Balance as of December 31, 2021	$	6.5
Charges	3.3
Settlements	(8.3)
Balance as of June 30, 2022	$	1.5

The liability of $1.5 million primarily relates to employee severance and benefit arrangements and is included in accrued and other current liabilities.

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Income Taxes

6 Months Ended

Jun. 30, 2022

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

The effective income tax rate on continuing operations for the six months ended June 30, 2022, was 23.5%. The year-to-date provision for income taxes included taxes on earnings at an anticipated rate of 23.8% and a tax impact of $1.7 million related to discrete activity.

The effective income tax rate on continuing operations for the six months ended June 30, 2021, was 18.8%.

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Inventories, net

6 Months Ended

Jun. 30, 2022

Inventory Disclosure [Abstract]

Inventories, net

Inventories, net

(in millions)	June 30, 2022		December 31, 2021
Raw materials	$	373.0	$	288.0
Work-in-process	95.5		76.2
Finished goods	344.9		271.0
Reserves	(32.5)		(30.1)
Inventories, net	$	780.9	$	605.1

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Accrued and Other Current Liabilities

6 Months Ended

Jun. 30, 2022

Payables and Accruals [Abstract]

Accrued and Other Current Liabilities

Accrued and Other Current Liabilities

(in millions)	June 30, 2022		December 31, 2021
Compensation and benefits	$	113.2	$	136.2
Customer incentives	96.2		97.9
Standard product warranties	25.0		26.8
Income and other accrued taxes	18.6		19.4
Other accrued liabilities	67.0		70.9
Accrued and other current liabilities	$	320.0	$	351.2

Standard Product Warranties

The Company offers various standard warranty programs on its products, primarily for certain installed roofing systems, high-performance cables and assemblies and fluid technologies. The Company’s liability for such warranty

programs is included in accrued and other current liabilities. The change in standard product warranty liabilities for the six months ended June 30, follows:

(in millions)	2022		2021
Balance as of January 1	$	26.8	$	30.0
Provision	4.7		0.1
Claims	(6.0)		(2.3)
Foreign exchange	(0.5)		(0.2)
Balance as of June 30	$	25.0	$	27.6

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Long-term Debt

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Long-term Debt

Long-term Debt

(in millions)					Fair Value(1)
	June 30, 2022		December 31, 2021		June 30, 2022		December 31, 2021
2.20% Notes due 2032	$	550.0	$	550.0	$	429.4	$	529.7
2.75% Notes due 2030	750.0		750.0		633.3		764.6
3.75% Notes due 2027	600.0		600.0		577.9		645.8
3.50% Notes due 2024	400.0		400.0		396.0		419.8
0.55% Notes due 2023	300.0		300.0		289.9		297.5
3.75% Notes due 2022	350.0		350.0		350.5		356.2
Unamortized discount, debt issuance costs and other	(20.1)		(22.6)
Total long term-debt	2,929.9		2,927.4
Less: current portion of debt	352.2		352.0
Long term-debt, less current portion	$	2,577.7	$	2,575.4

(1)The fair value is estimated based on current yield rates plus the Company’s estimated credit spread available for financings with similar terms and maturities. Based on these inputs, the debt instruments are classified as Level 2 in the fair value hierarchy.

Revolving Credit Facility

During the six months ended June 30, 2022, there were no borrowings or repayments under the Facility. As of June 30, 2022 and December 31, 2021, the Facility had no outstanding balance and $1.0 billion available for use.

Covenants and Limitations

Under the Company’s debt and credit facilities, the Company is required to meet various covenants and limitations, including limitations on certain leverage ratios, interest coverage and limits on outstanding debt balances held by certain subsidiaries. The Company was in compliance with all financial covenants and limitations as of June 30, 2022 and December 31, 2021.

Letters of Credit and Guarantee

During the normal course of business, the Company enters into commitments in the form of letters of credit and bank guarantees to provide its own financial and performance assurance to third parties. The Company has not issued any guarantees on behalf of any third parties. As of June 30, 2022 and December 31, 2021, the Company had $18.1 million and $18.9 million in letters of credit and bank guarantees outstanding, respectively. The Company has multiple arrangements to obtain letters of credit, which include an agreement with unspecified availability and separate agreements for up to $110.0 million in letters of credit, of which $91.9 million was available for use as of June 30, 2022.

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Employee Benefit Plans

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Employee Benefit Plans

Employee Benefit Plans

Defined Benefit Plans

The Company recognizes net periodic benefit cost based on the actuarial analysis performed at the previous year end, adjusted if certain significant events occur during the year.

The components of net periodic benefit cost follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2022		2021		2022		2021
Service cost	$	0.6	$	0.7	$	1.2	$	1.4
Interest cost	0.8		0.7		1.6		1.4
Expected return on plan assets	(2.4)		(2.5)		(4.8)		(4.9)
Amortization of unrecognized loss(1)	1.2		1.6		2.5		3.2
Settlement expense	0.5		0.5		0.9		0.9
Net periodic benefit cost	$	0.7	$	1.0	$	1.4	$	2.0

(1)Includes amortization of unrecognized actuarial (gain) loss and prior service credits and excludes provision for income tax of $(0.3) million and $(0.6) million for the three and six months ended June 30, 2022, respectively, and $(0.4) million and $(0.8) million for the three and six months ended June 30, 2021, respectively.

The components of net periodic benefit cost, other than the service cost component, are included in other non-operating expense, net.

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Financial Instruments

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

Financial Instruments

Foreign Currency Forward Contracts

The Company uses foreign currency forward contracts to hedge a portion of its foreign currency exchange rate exposure to forecasted foreign currency denominated cash flows. These instruments are not held for speculative or trading purposes.

A summary of the Company's designated and non-designated hedges follows:

	June 30, 2022				December 31, 2021
(in millions)	Fair Value(1)		Notional Value		Fair Value(1)		Notional Value
Designated hedges	$	0.7	$	121.7	$	2.7	$	127.6
Non-designated hedges	(0.1)		114.5		0.2		82.5

(1)The fair value of foreign currency forward contracts is included in other current assets. The fair value was estimated using observable market inputs such as forward and spot prices of the underlying exchange rate pair. Based on these inputs, derivative assets and liabilities are classified as Level 2 in the fair value hierarchy.

Designated Hedges

For instruments that are designated and qualify as cash flow hedges, the Company had foreign currency forward contracts with maturities less than one year. The changes in the fair value of the contracts are recorded in accumulated other comprehensive income (loss) and recognized in the same line item as the impact of the hedged item, revenues or cost of sales, when the underlying forecasted transaction impacts earnings. The change in accumulated other comprehensive loss related to foreign currency cash flow hedges was immaterial for the three and six months ended June 30, 2022 and 2021. Gains and losses on the contracts representing hedge components excluded from the assessment of hedge effectiveness are recognized in the same line item as the hedged item, revenues or cost of sales, currently.

Non-Designated Hedges

For instruments that are not designated as a cash flow hedge, the Company had foreign exchange contracts with maturities less than one year. The unrealized gains and losses resulting from these contracts were immaterial for the three and six months ended June 30, 2022 and 2021, and are recognized in other non-operating expense, net and partially offset corresponding foreign exchange gains and losses on these balances.

Rabbi Trust

The Company has established a Rabbi Trust to provide for a degree of financial security to cover its obligations under its deferred compensation plan. Contributions to the Rabbi Trust by the Company are made at the discretion of management and generally are made in cash and invested in money-market funds. The Company consolidates the Rabbi Trust and therefore includes the investments in its Condensed Consolidated Balance Sheets. As of June 30, 2022 and December 31, 2021, the Company had $5.0 million and $5.7 million of cash, respectively, and $7.4 million and $8.1 million of short-term investments, respectively. The short-term investments are classified as

trading securities and are measured at fair value using quoted market prices in active markets (i.e., Level 1 measurements) with changes in fair value recorded in net income and the associated cash flows presented as operating cash flows.

Investment Securities

In accordance with its investment policy, the Company invests its excess cash from time-to-time in investment grade bonds and other securities to achieve higher yields. As of June 30, 2022 and December 31, 2021, the Company had $19.7 million and $30.3 million of investment grade bonds, respectively. The investment grade bonds are classified as available-for-sale and measured at fair value using quoted market prices in active markets (i.e., Level 1 measurements) with changes in fair value recorded in accumulated comprehensive income (loss), until realized, and the associated cash flows presented as investing cash flows.

Other Financial Instruments

Other financial instruments include cash and cash equivalents, accounts receivable, net, accounts payable, accrued expenses and long-term debt. The carrying value for cash and cash equivalents, accounts receivable, net, accounts payable and accrued expenses approximates fair value because of their short-term nature and generally negligible credit losses (refer to Note 12 for the fair value of long-term debt).

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Commitments and Contingencies

6 Months Ended

Jun. 30, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Commitments and Contingencies

Litigation

Over the years, the Company has been named as a defendant, along with numerous other defendants, in lawsuits in various courts in which plaintiffs have alleged injury due to exposure to asbestos-containing friction products produced and sold predominantly by the Company’s discontinued Motion Control business between the late-1940s and the mid-1980s. The Company has been subject to liabilities for indemnity and defense costs associated with these lawsuits.

The Company has recorded a liability for estimated indemnity costs associated with pending and future asbestos claims. As of June 30, 2022, the Company believes that its accrual for these costs is not material to the Company's financial position, results of operations, or operating cash flows.

The Company recognizes expenses for defense costs associated with asbestos claims during the periods in which they are incurred. Refer to the 2021 Annual Report on Form 10-K for the Company's accounting policy related to litigation defense costs.

The Company currently maintains insurance coverage with respect to asbestos-related claims and associated defense costs. The Company records the insurance coverage as a long-term receivable in an amount it reasonably estimates is probable of recovery for pending and future asbestos-related indemnity claims. Since the Company’s insurance policies contain various coverage exclusions, limits of coverage and self-insured retentions and may be subject to insurance coverage disputes, the Company may recognize expenses for indemnity and defense costs in particular periods if and when it becomes probable that such costs will not be covered by insurance.

Henry has also been named as a defendant, along with numerous other defendants, in lawsuits in various courts in which plaintiffs have alleged injury due to exposure to asbestos-containing roofing products produced and sold by Henry and certain of its subsidiaries. Henry is subject to liabilities for indemnity and defense costs associated with these lawsuits. As of June 30, 2022, the Company believes such liabilities are not material to the Company’s financial position, results of operations, or operating cash flows. Henry currently maintains insurance coverage and is the beneficiary of other arrangements which provide coverage with respect to certain asbestos-related claims and associated defense costs. Such insurance policies contain various coverage exclusions, limits of coverage and self-insured retentions and may be subject to insurance coverage disputes.

The Company is also involved in various other legal actions and proceedings arising in the ordinary course of business. In the opinion of management, the ultimate outcomes of such actions and proceedings, either individually or in the aggregate, are not expected to have a material adverse effect on the Company’s financial position, results of operations, or operating cash flows.

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Basis of Presentation (Policies)

6 Months Ended

Jun. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation

Basis of Presentation

The accompanying unaudited Condensed Consolidated Financial Statements have been prepared by Carlisle Companies Incorporated (the "Company" or "Carlisle"). The accompanying unaudited Condensed Consolidated Financial Statements do not include all disclosures as required by accounting principles generally accepted in the United States of America ("United States" or "U.S."), and should be read in conjunction with the Company’s audited Consolidated Financial Statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2021 (the "2021 Annual Report on Form 10-K").

The accompanying unaudited Condensed Consolidated Financial Statements are prepared in conformity with accounting principles generally accepted in the U.S. and, of necessity, include some amounts that are based upon management estimates and judgments. The accompanying unaudited Condensed Consolidated Financial Statements include assets, liabilities, revenues and expenses of all majority-owned subsidiaries. Intercompany transactions and balances are eliminated in consolidation.

In the Company's opinion, the accompanying unaudited Condensed Consolidated Financial Statements contain all adjustments, consisting solely of adjustments of a normal, recurring nature, necessary to present fairly the financial position, results of operations and cash flows for the periods presented.

On February 10, 2022, the Company announced that it had realigned its construction materials businesses into two segments organized around its products and applications for the sustainable building envelope. The two segments are Carlisle Construction Materials and Carlisle Weatherproofing Technologies. No changes have been made to either of the Company’s other two segments – Carlisle Interconnect Technologies or Carlisle Fluid Technologies. The Company has reclassified certain prior periods' amounts to conform with the current presentation by reportable segment in Note 2—Segment Information, Note 6—Revenue Recognition and Note 8—Exit and Disposal Activities as a result of the Company's change in management structure. Additionally, the Company has reclassified certain prior periods' amounts to conform with the current period presentation of the revenues by geographic area tables in Note 6—Revenue Recognition to present Middle East revenues combined with Asia, as opposed to the previous presentation combined with Africa.

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Segment Information (Tables)

6 Months Ended

Jun. 30, 2022

Segment Reporting [Abstract]

Summary of Net Sales and Earnings Before Interest and Taxes ("EBIT")

A summary of segment information follows:

	Three Months Ended June 30,
	2022				2021
(in millions)	Revenues		Operating Income (Loss)		Revenues		Operating Income (Loss)
Carlisle Construction Materials	$	1,113.4	$	358.9	$	722.8	$	155.0
Carlisle Weatherproofing Technologies	448.9		59.0		214.5		22.4
Carlisle Interconnect Technologies	212.6		7.9		168.9		(12.9)
Carlisle Fluid Technologies	72.0		7.0		71.6		6.6
Segment total	1,846.9		432.8		1,177.8		171.1
Corporate, unallocated and eliminations(1)	—		(22.2)		—		(37.3)
Total	$	1,846.9	$	410.6	$	1,177.8	$	133.8
	Six Months Ended June 30,
	2022				2021
(in millions)	Revenues		Operating Income (Loss)		Revenues		Operating Income (Loss)
Carlisle Construction Materials	$	1,994.5	$	620.0	$	1,279.2	$	265.7
Carlisle Weatherproofing Technologies	808.0		96.5		377.4		33.0
Carlisle Interconnect Technologies	397.6		5.4		324.7		(23.6)
Carlisle Fluid Technologies	143.1		11.8		137.4		10.9
Segment total	3,343.2		733.7		2,118.7		286.0
Corporate and unallocated(1)	—		(45.8)		—		(67.5)
Total	$	3,343.2	$	687.9	$	2,118.7	$	218.5

(1)Corporate operating loss includes other unallocated costs, primarily general corporate expenses.

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Acquisitions (Tables) - ASP Henry Holdings, Inc.

6 Months Ended

Jun. 30, 2022

Acquisitions

Unaudited Combined Pro Forma Information

The unaudited combined pro forma financial information presented below includes revenues and income from continuing operations, net of tax, of the Company as if the business combination had occurred on January 1, 2020, based on the purchases price allocation presented below:

	Unaudited Pro Forma
(in millions)	Three Months Ended June 30, 2021		Six Months Ended June 30, 2021
Revenues	$	1,324.3	$	2,378.9
Income from continuing operations	100.5		150.0

Summary of Consideration Transferred and the Allocation of the Consideration to Acquired Assets and Assumed Liabilities

The following table summarizes the consideration transferred to acquire Henry and the preliminary allocation of the purchase price among the assets acquired and liabilities assumed. The acquisition has been accounted for using the acquisition method of accounting in accordance with Accounting Standards Codification 805, Business Combinations, which requires that consideration be allocated to the acquired assets and assumed liabilities based upon their acquisition date fair values with the remainder allocated to goodwill. The fair values are preliminary and subject to change pending receipt of the final valuation for all acquired assets and liabilities.

	Preliminary Allocation		Measurement Period Adjustments		Preliminary Allocation
(in millions)	As of 9/1/2021				As of 6/30/2022
Total cash consideration transferred	$	1,608.2	$	(2.6)	$	1,605.6
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	34.3		—		34.3
Receivables, net	79.0		—		79.0
Inventories	59.4		(7.9)		51.5
Prepaid expenses and other current assets	10.5		0.2		10.7
Property, plant and equipment	53.6		8.2		61.8
Intangible assets	735.1		445.9		1,181.0
Other long-term assets	3.6		8.3		11.9
Accounts payable	(77.9)		2.2		(75.7)
Accrued and other current liabilities	(28.7)		(0.4)		(29.1)
Short-term debt	(1.0)		—		(1.0)
Contract liabilities	(2.6)		—		(2.6)
Other long-term debt	(0.8)		—		(0.8)
Other long-term liabilities	(5.9)		(9.8)		(15.7)
Deferred income taxes	(153.4)		(107.8)		(261.2)
Total identifiable net assets	705.2		338.9		1,044.1
Goodwill	$	903.0	$	(341.5)	$	561.5

Acquired Definite-lived Intangible Assets

The preliminary fair value and weighted average useful lives of the acquired intangible assets are as follows:

(in millions)	Fair Value		Weighted Average Useful Life (in years)
Customer relationships	$	914.0	18
Technologies	46.5		11
Software	0.1		4
Indefinite-lived trade name	220.4		N/A
Total	$	1,181.0

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Discontinued Operations (Tables)

6 Months Ended

Jun. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Activity of Discontinued Operations

A summary of the results from discontinued operations included in the Condensed Consolidated Statements of Income and Comprehensive Income follows:

(in millions)	Three Months Ended June 30,			Six Months Ended June 30,
		2021			2021
Revenues		$	98.8		$	186.9
Cost of goods sold		76.1			147.4
Other operating expenses, net		11.8			23.8
Operating income		10.9			15.7
Other non-operating (income) expense, net		(0.1)			0.2
Income from discontinued operations before income taxes and loss on sale		11.0			15.5
Pre-close transaction expenses(1)		4.7			4.7
Income from discontinued operations before income taxes		6.3			10.8
Provision for income taxes		1.1			2.5
Income from discontinued operations		$	5.2		$	8.3

(1)Includes legal fees and stock-compensation expense directly related to the sale incurred prior to the closing of the transaction.

Income from discontinued operations in the second quarter and the first six months of 2022 primarily reflects a gain on the sale of real estate associated with the 2021 sale of the equity interests and assets comprising the CBF segment.

A summary of cash flows from discontinued operations included in the Condensed Consolidated Statements of Cash Flows for the six months ended June 30, follows:

(in millions)	2022		2021
Net cash (used in) provided by operating activities	$	(2.1)	$	10.8
Net cash provided by (used in) investing activities	132.0		(5.6)
Net cash (used in) provided by financing activities(1)	(129.9)		1.8
Change in cash and cash equivalents from discontinued operations	$	—	$	7.0

(1)Represents (repayments) or borrowings from the Carlisle cash pool to fund working capital and capital expenditures and return of capital upon sale

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Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings per share

Income from continuing operations and share data used in the basic and diluted earnings per share computations using the two-class method follows:

		Three Months Ended June 30,						Six Months Ended June 30,
(in millions, except per share amounts)		2022			2021			2022			2021
Income from continuing operations		$	295.9		$	94.1		$	490.2		$	143.2
Less: dividends declared		(28.0)			(27.5)			(56.7)			(56.0)
Undistributed earnings		267.9			66.6			433.5			87.2
Percent allocated to common stockholders (1)		99.7		%	99.7		%	99.7		%	99.7		%
Undistributed earnings allocated to common stockholders		267.2			66.4			432.4			86.9
Add: dividends declared to common shares, restricted share units and vested and deferred restricted and performance shares		27.9			27.5			56.6			55.9
Income from continuing operations attributable to common stockholders		$	295.1		$	93.9		$	489.0		$	142.8
Shares:
Basic weighted-average shares outstanding		51.8			52.3			52.0			52.7
Effect of dilutive securities:
Performance awards		0.2			0.2			0.2			0.1
Stock options		0.5			0.5			0.5			0.5
Diluted weighted-average shares outstanding		52.5			53.0			52.7			53.3
Per share income from continuing operations attributable to common shares:
Basic		$	5.70		$	1.79		$	9.41		$	2.71
Diluted		$	5.62		$	1.77		$	9.28		$	2.68
(1)	Basic weighted-average shares outstanding	51.8			52.3			52.0			52.7
	Basic weighted-average shares outstanding and unvested restricted shares expected to vest	51.9			52.5			52.1			52.8
	Percent allocated to common stockholders	99.7		%	99.7		%	99.7		%	99.7		%

Schedule of antidilutive securities excluded from computation of earnings per share

To calculate earnings per share for income from discontinued operations and for net income, the denominator for both basic and diluted earnings per share is the same as used in the above table.

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2022		2021		2022		2021
Income from discontinued operations attributable to common stockholders for basic and diluted earnings per share	$	5.6	$	5.2	$	4.9	$	8.3
Net income attributable to common stockholders for basic and diluted earnings per share	300.8		99.2		493.9		151.1
Anti-dilutive stock options excluded from earnings per share calculation(1)	0.2		—		0.2		0.3

(1)Represents stock options excluded from the calculation of diluted earnings per share, as such options’ assumed proceeds upon exercise would result in the repurchase of more shares than the underlying award.

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Revenue Recognition (Tables)

6 Months Ended

Jun. 30, 2022

Revenue from Contract with Customer [Abstract]

Summary of the Timing of Revenue Recognition

A summary of estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied or partially unsatisfied as of June 30, 2022, follows:

(in millions)	Remainder of 2022		2023		2024		2025		2026		2027		Thereafter
Extended service warranties	$	12.3	$	23.5	$	22.5	$	21.5	$	20.6	$	19.5	$	159.4

Change in Contract Liabilities

A summary of the change in contract liabilities for the six months ended June 30, follows:

(in millions)	2022		2021
Balance as of January 1	$	283.9	$	268.3
Revenue recognized	(38.1)		(32.0)
Revenue deferred	47.9		38.7
Balance as of June 30	$	293.7	$	275.0

Schedule of Change in Contract Assets

A summary of the change in contract assets for the six months ended June 30, follows:

(in millions)	2022		2021
Balance as of January 1	$	72.1	$	84.5
Balance as of June 30	78.5		71.5
Change in contract assets	$	6.4	$	(13.0)

Reconciliation of Disaggregated Revenue

A summary of revenues disaggregated by major end-market industries and reconciliation of disaggregated revenue by segment follows:

	Three Months Ended June 30, 2022
(in millions)	CCM		CWT		CIT		CFT		Total
General construction	$	1,113.4	$	368.9	$	—	$	—	$	1,482.3
Aerospace	—		—		94.6		—		94.6
Medical	—		—		78.1		—		78.1
Transportation	—		—		—		39.6		39.6
Heavy equipment	—		27.3		—		—		27.3
General industrial and other	—		52.7		39.9		32.4		125.0
Total revenues	$	1,113.4	$	448.9	$	212.6	$	72.0	$	1,846.9
	Three Months Ended June 30, 2021
(in millions)	CCM		CWT		CIT		CFT		Total
General construction	$	722.8	$	159.1	$	—	$	—	$	881.9
Aerospace	—		—		74.0		—		74.0
Medical	—		—		59.1		—		59.1
Transportation	—		—		—		35.9		35.9
Heavy equipment	—		22.9		—		—		22.9
General industrial and other	—		32.5		35.8		35.7		104.0
Total revenues	$	722.8	$	214.5	$	168.9	$	71.6	$	1,177.8

	Six Months Ended June 30, 2022
(in millions)	CCM		CWT		CIT		CFT		Total
General construction	$	1,994.5	$	667.2	$	—	$	—	$	2,661.7
Aerospace	—		—		177.9		—		177.9
Medical	—		—		142.7		—		142.7
Transportation	—		—		—		78.0		78.0
Heavy equipment	—		58.1		—		—		58.1
General industrial and other	—		82.7		77.0		65.1		224.8
Total revenues	$	1,994.5	$	808.0	$	397.6	$	143.1	$	3,343.2
	Six Months Ended June 30, 2021
(in millions)	CCM		CWT		CIT		CFT		Total
General construction	$	1,279.2	$	276.8	$	—	$	—	$	1,556.0
Aerospace	—		—		139.9		—		139.9
Medical	—		—		114.3		—		114.3
Transportation	—		—		—		69.7		69.7
Heavy equipment	—		43.2		—		—		43.2
General industrial and other	—		57.4		70.5		67.7		195.6
Total revenues	$	1,279.2	$	377.4	$	324.7	$	137.4	$	2,118.7

Revenues by Geographic Area

A summary of revenues based on the country to which the product was delivered and reconciliation of disaggregated revenue by segment follows:

	Three Months Ended June 30, 2022
(in millions)	CCM		CWT		CIT		CFT		Total
United States	$	1,009.4	$	403.8	$	150.2	$	36.1	$	1,599.5
International:
Europe	62.8		5.1		17.5		11.7		97.1
North America (excluding U.S.)	32.6		35.9		8.8		3.3		80.6
Asia and Middle East	5.0		1.9		27.2		19.5		53.6
Africa	0.5		0.5		3.2		0.2		4.4
Other	3.1		1.7		5.7		1.2		11.7
Total international	104.0		45.1		62.4		35.9		247.4
Total revenues	$	1,113.4	$	448.9	$	212.6	$	72.0	$	1,846.9
	Three Months Ended June 30, 2021
(in millions)	CCM		CWT		CIT		CFT		Total
United States	$	633.8	$	197.7	$	126.8	$	31.4	$	989.7
International:
Europe	61.9		2.2		16.3		13.6		94.0
North America (excluding U.S.)	22.5		8.7		2.5		2.8		36.5
Asia and Middle East	4.4		5.0		20.4		22.3		52.1
Africa	0.1		0.9		0.9		0.2		2.1
Other	0.1		—		2.0		1.3		3.4
Total international	89.0		16.8		42.1		40.2		188.1
Total revenues	$	722.8	$	214.5	$	168.9	$	71.6	$	1,177.8

	Six Months Ended June 30, 2022
(in millions)	CCM		CWT		CIT		CFT		Total
United States	$	1,796.9	$	722.3	$	280.1	$	69.5	$	2,868.8
International:
Europe	122.7		10.5		35.7		24.6		193.5
North America (excluding U.S.)	60.2		64.1		19.6		7.8		151.7
Asia and Middle East	7.7		4.8		46.5		38.8		97.8
Africa	1.2		2.7		5.9		0.4		10.2
Other	5.8		3.6		9.8		2.0		21.2
Total international	197.6		85.7		117.5		73.6		474.4
Total revenues	$	1,994.5	$	808.0	$	397.6	$	143.1	$	3,343.2
	Six Months Ended June 30, 2021
(in millions)	CCM		CWT		CIT		CFT		Total
United States	$	1,113.1	$	344.7	$	238.3	$	62.0	$	1,758.1
International:
Europe	116.2		8.5		30.7		26.1		181.5
North America (excluding U.S.)	37.9		16.9		7.0		5.3		67.1
Asia and Middle East	9.1		6.4		42.3		41.7		99.5
Africa	1.3		0.9		2.2		0.4		4.8
Other	1.6		—		4.2		1.9		7.7
Total international	166.1		32.7		86.4		75.4		360.6
Total revenues	$	1,279.2	$	377.4	$	324.7	$	137.4	$	2,118.7

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Stock-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2022

Share-Based Payment Arrangement [Abstract]

Schedule of Compensation Expense

Stock-based compensation cost by award type follows:

(in millions)	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Stock option awards	$	2.3	$	2.3	$	5.4	$	5.9
Restricted stock awards	1.7		1.7		5.0		3.9
Performance share awards	2.2		1.8		5.4		4.3
Stock appreciation rights	—		5.9		—		9.0
Total stock-based compensation cost incurred	6.2		11.7		15.8		23.1
Capitalized cost during the period	—		(5.9)		—		(9.3)
Amortization of capitalized cost during the period	—		8.8		—		14.3
Total stock-based compensation expense	$	6.2	$	14.6	$	15.8	$	28.1

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Exit and Disposal and Other Restructuring Activities (Tables)

6 Months Ended

Jun. 30, 2022

Restructuring and Related Activities [Abstract]

Summary of Exit and Disposal Activities

The Company's exit and disposal costs by activity follows:

(in millions)	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Accelerated depreciation and impairments	$	0.7	$	2.1	$	1.3	$	2.1
Employee severance and benefit arrangements	0.2		3.2		1.3		5.1
Facility cleanup costs	0.1		—		0.2		(1.0)
Lease termination costs	—		—		0.1		—
Relocation costs	—		0.2		—		0.3
Other restructuring costs	0.1		1.1		0.4		1.5
Total exit and disposal costs	$	1.1	$	6.6	$	3.3	$	8.0

The Company's exit and disposal costs by segment follows:

(in millions)	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Carlisle Interconnect Technologies	$	1.1	$	6.6	$	3.0	$	7.9
Carlisle Weatherproofing Technologies	—		—		0.3		—
Carlisle Fluid Technologies	—		—		—		0.1
Total exit and disposal costs	$	1.1	$	6.6	$	3.3	$	8.0

The Company's exit and disposal costs by financial statement line item follows:

(in millions)	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Cost of goods sold	$	1.0	$	3.6	$	2.9	$	4.4
Selling and administrative expenses	0.1		2.8		0.4		3.4
Research and development expenses	—		0.2		—		0.2
Total exit and disposal costs	$	1.1	$	6.6	$	3.3	$	8.0

The Company's change in exit and disposal activities liability follows:

(in millions)	Total
Balance as of December 31, 2021	$	6.5
Charges	3.3
Settlements	(8.3)
Balance as of June 30, 2022	$	1.5

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Inventories, net (Tables)

6 Months Ended

Jun. 30, 2022

Inventory Disclosure [Abstract]

Components of Inventories

(in millions)	June 30, 2022		December 31, 2021
Raw materials	$	373.0	$	288.0
Work-in-process	95.5		76.2
Finished goods	344.9		271.0
Reserves	(32.5)		(30.1)
Inventories, net	$	780.9	$	605.1

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Accrued and Other Current Liabilities (Tables)

6 Months Ended

Jun. 30, 2022

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities

(in millions)	June 30, 2022		December 31, 2021
Compensation and benefits	$	113.2	$	136.2
Customer incentives	96.2		97.9
Standard product warranties	25.0		26.8
Income and other accrued taxes	18.6		19.4
Other accrued liabilities	67.0		70.9
Accrued and other current liabilities	$	320.0	$	351.2

Schedule of Change in Standard Product Warranty Liabilities

The change in standard product warranty liabilities for the six months ended June 30, follows:

(in millions)	2022		2021
Balance as of January 1	$	26.8	$	30.0
Provision	4.7		0.1
Claims	(6.0)		(2.3)
Foreign exchange	(0.5)		(0.2)
Balance as of June 30	$	25.0	$	27.6

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Long-term Debt (Tables)

6 Months Ended

Jun. 30, 2022

Debt Disclosure [Abstract]

Schedule of Long-term Debt

(in millions)					Fair Value(1)
	June 30, 2022		December 31, 2021		June 30, 2022		December 31, 2021
2.20% Notes due 2032	$	550.0	$	550.0	$	429.4	$	529.7
2.75% Notes due 2030	750.0		750.0		633.3		764.6
3.75% Notes due 2027	600.0		600.0		577.9		645.8
3.50% Notes due 2024	400.0		400.0		396.0		419.8
0.55% Notes due 2023	300.0		300.0		289.9		297.5
3.75% Notes due 2022	350.0		350.0		350.5		356.2
Unamortized discount, debt issuance costs and other	(20.1)		(22.6)
Total long term-debt	2,929.9		2,927.4
Less: current portion of debt	352.2		352.0
Long term-debt, less current portion	$	2,577.7	$	2,575.4

(1)The fair value is estimated based on current yield rates plus the Company’s estimated credit spread available for financings with similar terms and maturities. Based on these inputs, the debt instruments are classified as Level 2 in the fair value hierarchy.

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Employee Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2022

Retirement Benefits [Abstract]

Components of Net Periodic Benefit Cost

The components of net periodic benefit cost follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(in millions)	2022		2021		2022		2021
Service cost	$	0.6	$	0.7	$	1.2	$	1.4
Interest cost	0.8		0.7		1.6		1.4
Expected return on plan assets	(2.4)		(2.5)		(4.8)		(4.9)
Amortization of unrecognized loss(1)	1.2		1.6		2.5		3.2
Settlement expense	0.5		0.5		0.9		0.9
Net periodic benefit cost	$	0.7	$	1.0	$	1.4	$	2.0

(1)Includes amortization of unrecognized actuarial (gain) loss and prior service credits and excludes provision for income tax of $(0.3) million and $(0.6) million for the three and six months ended June 30, 2022, respectively, and $(0.4) million and $(0.8) million for the three and six months ended June 30, 2021, respectively.

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Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Summary of Designated and Non-designated Cash Flow Hedges

A summary of the Company's designated and non-designated hedges follows:

	June 30, 2022				December 31, 2021
(in millions)	Fair Value(1)		Notional Value		Fair Value(1)		Notional Value
Designated hedges	$	0.7	$	121.7	$	2.7	$	127.6
Non-designated hedges	(0.1)		114.5		0.2		82.5

(1)The fair value of foreign currency forward contracts is included in other current assets. The fair value was estimated using observable market inputs such as forward and spot prices of the underlying exchange rate pair. Based on these inputs, derivative assets and liabilities are classified as Level 2 in the fair value hierarchy.

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Basis of Presentation (Details)	Feb. 10, 2022 segment
Construction Materials Businesses
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Number of Operating Segments	2

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Segment Information (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($) business	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)
Net Sales, EBIT, Assets continuing operations by reportable segment
Number of reportable segments | business	4
Revenues	$ 1,846.9	$ 1,177.8	$ 3,343.2	$ 2,118.7
Operating Income (Loss)	410.6	133.8	687.9	218.5
Operating segments
Net Sales, EBIT, Assets continuing operations by reportable segment
Revenues	1,846.9	1,177.8	3,343.2	2,118.7
Operating Income (Loss)	432.8	171.1	733.7	286.0
Corporate and unallocated
Net Sales, EBIT, Assets continuing operations by reportable segment
Revenues	0.0	0.0	0.0	0.0
Operating Income (Loss)	(22.2)	(37.3)	(45.8)	(67.5)
Carlisle Construction Materials | Operating segments
Net Sales, EBIT, Assets continuing operations by reportable segment
Revenues	1,113.4	722.8	1,994.5	1,279.2
Operating Income (Loss)	358.9	155.0	620.0	265.7
Carlisle Weatherproofing Technologies | Operating segments
Net Sales, EBIT, Assets continuing operations by reportable segment
Revenues	448.9	214.5	808.0	377.4
Operating Income (Loss)	59.0	22.4	96.5	33.0
Carlisle Interconnect Technologies | Operating segments
Net Sales, EBIT, Assets continuing operations by reportable segment
Revenues	212.6	168.9	397.6	324.7
Operating Income (Loss)	7.9	(12.9)	5.4	(23.6)
Carlisle Fluid Technologies | Operating segments
Net Sales, EBIT, Assets continuing operations by reportable segment
Revenues	72.0	71.6	143.1	137.4
Operating Income (Loss)	$ 7.0	$ 6.6	$ 11.8	$ 10.9

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Acquisitions (Details) - USD ($)				1 Months Ended	3 Months Ended		5 Months Ended	6 Months Ended
	Jun. 30, 2022	Feb. 01, 2022	Sep. 01, 2021	Sep. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Acquisitions
Revenues					$ 1,846,900,000	$ 1,177,800,000		$ 3,343,200,000	$ 2,118,700,000
Operating income					410,600,000	$ 133,800,000		687,900,000	$ 218,500,000
Goodwill	$ 2,201,600,000				$ 2,201,600,000		$ 2,201,600,000	$ 2,201,600,000		$ 2,199,000,000
0.55% Notes due 2023
Acquisitions
Interest rate (as a percent)	0.55%				0.55%		0.55%	0.55%		0.55%
2.20% Notes due 2032
Acquisitions
Interest rate (as a percent)	2.20%			2.20%	2.20%		2.20%	2.20%
MB Technology
Acquisitions
Percentage of ownership interest acquired		100.00%
Total consideration		$ 26,300,000
Cash acquired	$ 1,600,000				$ 1,600,000		$ 1,600,000	$ 1,600,000
Revenues					4,100,000		6,100,000
Operating income							100,000
Goodwill		12,500,000
Goodwill deductible for tax purposes		0
Finite-lived intangible assets acquired		3,400,000
Inventory		2,800,000
Accounts receivable		800,000
Accounts payable		500,000
MB Technology | Customer relationships
Acquisitions
Total consideration		$ 7,900,000
Useful life of finite lived intangible assets		9 years
ASP Henry Holdings, Inc.
Acquisitions
Cash acquired	34,300,000		$ 34,300,000		34,300,000		34,300,000	34,300,000
Goodwill	561,500,000		903,000,000.0		561,500,000		561,500,000	561,500,000
Goodwill deductible for tax purposes			50,900,000
Inventory	51,500,000		59,400,000		51,500,000		51,500,000	51,500,000
Accounts receivable	79,000,000.0		79,000,000.0		79,000,000.0		79,000,000.0	79,000,000.0
Accounts payable	75,700,000		77,900,000		75,700,000		75,700,000	75,700,000
Consideration paid	1,605,600,000		1,608,200,000
Gross contractual accounts receivable acquired			81,900,000
Accounts receivable not expected to be collected			2,900,000
Deferred income taxes	$ (261,200,000)		$ (153,400,000)		$ (261,200,000)		$ (261,200,000)	$ (261,200,000)
ASP Henry Holdings, Inc. | Customer relationships
Acquisitions
Useful life of finite lived intangible assets			18 years
ASP Henry Holdings, Inc. | 0.55% Notes due 2023
Acquisitions
Proceeds from notes				$ 300,000,000
Repayments of revolving credit facility				300,000,000
ASP Henry Holdings, Inc. | 2.20% Notes due 2032
Acquisitions
Proceeds from notes				550,000,000
Repayments of revolving credit facility				$ 550,000,000

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Acquisitions - Pro Forma Information (Details) - ASP Henry Holdings, Inc. - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Acquisitions
Revenues	$ 1,324.3	$ 2,378.9
Income from continuing operations	100.5	150.0
Depreciation and amortization	$ 14.4	$ 28.8

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Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions			10 Months Ended
	Jun. 30, 2022	Sep. 01, 2021	Jun. 30, 2022	Dec. 31, 2021
Recognized amounts of identifiable assets acquired and liabilities assumed:
Goodwill	$ 2,201.6		$ 2,201.6	$ 2,199.0
ASP Henry Holdings, Inc.
Acquisitions
Consideration paid	1,605.6	$ 1,608.2
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	34.3	34.3	34.3
Receivables, net	79.0	79.0	79.0
Inventories	51.5	59.4	51.5
Prepaid expenses and other current assets	10.7	10.5	10.7
Property, plant and equipment	61.8	53.6	61.8
Intangible assets	1,181.0	735.1	1,181.0
Other long-term assets	11.9	3.6	11.9
Accounts payable	(75.7)	(77.9)	(75.7)
Accrued and other current liabilities	(29.1)	(28.7)	(29.1)
Short-term debt	(1.0)	(1.0)	(1.0)
Contract liabilities	(2.6)	(2.6)	(2.6)
Other long-term debt	(0.8)	(0.8)	(0.8)
Other long-term liabilities	(15.7)	(5.9)	(15.7)
Deferred income taxes	(261.2)	(153.4)	(261.2)
Total identifiable net assets	1,044.1	705.2	1,044.1
Goodwill	$ 561.5	$ 903.0	561.5
ASP Henry Holdings, Inc. | Adjustment
Acquisitions
Consideration paid			(2.6)
Recognized amounts of identifiable assets acquired and liabilities assumed:
Measurement period adjustments, inventory			(7.9)
Measurement period adjustments, prepaid expenses and other current assets			0.2
Measurement period adjustments, property, plant and equipment			8.2
Measurement period adjustments, definite-lived intangible assets			445.9
Measurement period adjustments, other long-term assets			8.3
Measurement period adjustments, accounts payable			2.2
Measurement period adjustments, accrued and other current liabilities			(0.4)
Measurement period adjustments, other long-term liabilities			(9.8)
Measurement period adjustments, deferred income taxes			(107.8)
Measurement period adjustments, total identifiable assets			338.9
Measurement period adjustments, goodwill			$ (341.5)

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Acquisitions - Intangible Assets (Details) - ASP Henry Holdings, Inc. $ in Millions	Sep. 01, 2021 USD ($)
Acquisitions
Total	$ 1,181.0
Trade names
Acquisitions
Indefinite-lived trade name	220.4
Customer relationships
Acquisitions
Finite-lived intangible assets	$ 914.0
Useful life of finite lived intangible assets	18 years
Technologies
Acquisitions
Finite-lived intangible assets	$ 46.5
Useful life of finite lived intangible assets	11 years
Software
Acquisitions
Finite-lived intangible assets	$ 0.1
Useful life of finite lived intangible assets	4 years

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Discontinued Operations (Details) - USD ($) $ in Millions			6 Months Ended
	Feb. 23, 2022	Aug. 02, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash received from sale of discontinued operation			$ 132.0	$ 0.0
Carlisle Brake & Friction | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash received from sale of discontinued operation	$ 125.0	$ 250.0
Receivable contingent upon achievement of performance targets		$ 125.0

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Discontinued Operations - Results from Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations before income taxes	$ 4.8	$ 6.3	$ 4.1	$ 10.8
Provision for income taxes	(0.8)	1.1	(0.8)	2.5
Income from discontinued operations	$ 5.6	5.2	$ 4.9	8.3
Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations before income taxes		6.3
Carlisle Brake & Friction | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		98.8		186.9
Cost of goods sold		76.1		147.4
Other operating expenses, net		11.8		23.8
Operating income		10.9		15.7
Other non-operating (income) expense, net		(0.1)		0.2
Income from discontinued operations before income taxes and loss on sale		11.0		15.5
Pre-close transaction expenses		4.7		4.7
Income from discontinued operations before income taxes				10.8
Provision for income taxes		1.1		2.5
Income from discontinued operations		$ 5.2		$ 8.3

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Discontinued Operations - Summary of Cash Flows from Discontinued Operations (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Change in cash and cash equivalents from discontinued operations	$ 0.0	$ 7.0
Carlisle Brake & Friction | Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net cash (used in) provided by operating activities	(2.1)	10.8
Net cash provided by (used in) investing activities	132.0	(5.6)
Net cash (used in) provided by financing activities	(129.9)	1.8
Change in cash and cash equivalents from discontinued operations	$ 0.0	$ 7.0

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Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Numerator:
Income from continuing operations	$ 295.9	$ 94.1	$ 490.2	$ 143.2
Less: dividends declared	(28.0)	(27.5)	(56.7)	(56.0)
Undistributed earnings	$ 267.9	$ 66.6	$ 433.5	$ 87.2
Percent allocated to common stockholders	99.70%	99.70%	99.70%	99.70%
Undistributed earnings allocated to common stockholders	$ 267.2	$ 66.4	$ 432.4	$ 86.9
Add: dividends declared to common shares, restricted share units and vested and deferred restricted and performance shares	27.9	27.5	56.6	55.9
Income from continuing operations attributable to common stockholders	$ 295.1	$ 93.9	$ 489.0	$ 142.8
Denominator (in thousands):
Basic weighted-average shares outstanding (in shares)	51.8	52.3	52.0	52.7
Effect of dilutive securities:
Performance awards (in shares)	0.2	0.2	0.2	0.1
Stock options (in shares)	0.5	0.5	0.5	0.5
Diluted weighted-average shares outstanding (in shares)	52.5	53.0	52.7	53.3
Per share income from continuing operations attributable to common shares:
Basic (in dollars per share)	$ 5.70	$ 1.79	$ 9.41	$ 2.71
Diluted (in dollars per share)	$ 5.62	$ 1.77	$ 9.28	$ 2.68
Basic weighted-average shares outstanding (in shares)	51.8	52.3	52.0	52.7
Basic weighted-average shares outstanding and unvested restricted shares expected to vest (in shares)	51.9	52.5	52.1	52.8
Percent allocated to common stockholders	99.70%	99.70%	99.70%	99.70%
Anti-dilutive stock options excluded from EPS calculation
Income from discontinued operations attributable to common stockholders for basic and diluted earnings per share	$ 5.6	$ 5.2	$ 4.9	$ 8.3
Net income attributable to common stockholders for basic and diluted earnings per share	$ 300.8	$ 99.2	$ 493.9	$ 151.1
Anti-dilutive stock options excluded from earnings per share calculation (in shares)	0.2	0.0	0.2	0.3

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Revenue Recognition - Remaining Performance Obligation (Details) $ in Millions	Jun. 30, 2022 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01
Revenue from Contract with Customer [Abstract]
Extended service warranties	$ 12.3
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Extended service warranties, period	6 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue from Contract with Customer [Abstract]
Extended service warranties	$ 23.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Extended service warranties, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue from Contract with Customer [Abstract]
Extended service warranties	$ 22.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Extended service warranties, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue from Contract with Customer [Abstract]
Extended service warranties	$ 21.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Extended service warranties, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue from Contract with Customer [Abstract]
Extended service warranties	$ 20.6
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Extended service warranties, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue from Contract with Customer [Abstract]
Extended service warranties	$ 19.5
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Extended service warranties, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01
Revenue from Contract with Customer [Abstract]
Extended service warranties	$ 159.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Extended service warranties, period

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Revenue Recognition - Change in Contract Liabilities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Balance as of January 1	$ 283.9	$ 268.3
Revenue recognized	(38.1)	(32.0)
Revenue deferred	47.9	38.7
Balance as of June 30	$ 293.7	$ 275.0

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Revenue Recognition - Change in Contract Assets (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Balance as of January 1	$ 72.1	$ 84.5
Balance as of June 30	78.5	71.5
Change in contract assets	$ 6.4	$ (13.0)

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Revenue Recognition - Timing of Revenue Recognition and Reconciliation of Disaggregate Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Revenues	$ 1,846.9	$ 1,177.8	$ 3,343.2	$ 2,118.7
United States
Disaggregation of Revenue [Line Items]
Revenues	1,599.5	989.7	2,868.8	1,758.1
Total international
Disaggregation of Revenue [Line Items]
Revenues	247.4	188.1	474.4	360.6
Europe
Disaggregation of Revenue [Line Items]
Revenues	97.1	94.0	193.5	181.5
North America (excluding U.S.)
Disaggregation of Revenue [Line Items]
Revenues	80.6	36.5	151.7	67.1
Asia and Middle East
Disaggregation of Revenue [Line Items]
Revenues	53.6	52.1	97.8	99.5
Africa
Disaggregation of Revenue [Line Items]
Revenues	4.4	2.1	10.2	4.8
Other
Disaggregation of Revenue [Line Items]
Revenues	11.7	3.4	21.2	7.7
General construction
Disaggregation of Revenue [Line Items]
Revenues	1,482.3	881.9	2,661.7	1,556.0
Aerospace
Disaggregation of Revenue [Line Items]
Revenues	94.6	74.0	177.9	139.9
Medical
Disaggregation of Revenue [Line Items]
Revenues	78.1	59.1	142.7	114.3
Transportation
Disaggregation of Revenue [Line Items]
Revenues	39.6	35.9	78.0	69.7
Heavy equipment
Disaggregation of Revenue [Line Items]
Revenues	27.3	22.9	58.1	43.2
General industrial and other
Disaggregation of Revenue [Line Items]
Revenues	125.0	104.0	224.8	195.6
Carlisle Construction Materials
Disaggregation of Revenue [Line Items]
Revenues	1,113.4	722.8	1,994.5	1,279.2
Carlisle Construction Materials | United States
Disaggregation of Revenue [Line Items]
Revenues	1,009.4	633.8	1,796.9	1,113.1
Carlisle Construction Materials | Total international
Disaggregation of Revenue [Line Items]
Revenues	104.0	89.0	197.6	166.1
Carlisle Construction Materials | Europe
Disaggregation of Revenue [Line Items]
Revenues	62.8	61.9	122.7	116.2
Carlisle Construction Materials | North America (excluding U.S.)
Disaggregation of Revenue [Line Items]
Revenues	32.6	22.5	60.2	37.9
Carlisle Construction Materials | Asia and Middle East
Disaggregation of Revenue [Line Items]
Revenues	5.0	4.4	7.7	9.1
Carlisle Construction Materials | Africa
Disaggregation of Revenue [Line Items]
Revenues	0.5	0.1	1.2	1.3
Carlisle Construction Materials | Other
Disaggregation of Revenue [Line Items]
Revenues	3.1	0.1	5.8	1.6
Carlisle Construction Materials | General construction
Disaggregation of Revenue [Line Items]
Revenues	1,113.4	722.8	1,994.5	1,279.2
Carlisle Construction Materials | Aerospace
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0	0.0	0.0
Carlisle Construction Materials | Medical
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0	0.0	0.0
Carlisle Construction Materials | Transportation
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0	0.0	0.0
Carlisle Construction Materials | Heavy equipment
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0	0.0	0.0
Carlisle Construction Materials | General industrial and other
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0	0.0	0.0
Carlisle Weatherproofing Technologies
Disaggregation of Revenue [Line Items]
Revenues	448.9	214.5	808.0	377.4
Carlisle Weatherproofing Technologies | United States
Disaggregation of Revenue [Line Items]
Revenues	403.8	197.7	722.3	344.7
Carlisle Weatherproofing Technologies | Total international
Disaggregation of Revenue [Line Items]
Revenues	45.1	16.8	85.7	32.7
Carlisle Weatherproofing Technologies | Europe
Disaggregation of Revenue [Line Items]
Revenues	5.1	2.2	10.5	8.5
Carlisle Weatherproofing Technologies | North America (excluding U.S.)
Disaggregation of Revenue [Line Items]
Revenues	35.9	8.7	64.1	16.9
Carlisle Weatherproofing Technologies | Asia and Middle East
Disaggregation of Revenue [Line Items]
Revenues	1.9	5.0	4.8	6.4
Carlisle Weatherproofing Technologies | Africa
Disaggregation of Revenue [Line Items]
Revenues	0.5	0.9	2.7	0.9
Carlisle Weatherproofing Technologies | Other
Disaggregation of Revenue [Line Items]
Revenues	1.7	0.0	3.6	0.0
Carlisle Weatherproofing Technologies | General construction
Disaggregation of Revenue [Line Items]
Revenues	368.9	159.1	667.2	276.8
Carlisle Weatherproofing Technologies | Aerospace
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0	0.0	0.0
Carlisle Weatherproofing Technologies | Medical
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0	0.0	0.0
Carlisle Weatherproofing Technologies | Transportation
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0	0.0	0.0
Carlisle Weatherproofing Technologies | Heavy equipment
Disaggregation of Revenue [Line Items]
Revenues	27.3	22.9	58.1	43.2
Carlisle Weatherproofing Technologies | General industrial and other
Disaggregation of Revenue [Line Items]
Revenues	52.7	32.5	82.7	57.4
Carlisle Interconnect Technologies
Disaggregation of Revenue [Line Items]
Revenues	212.6	168.9	397.6	324.7
Carlisle Interconnect Technologies | United States
Disaggregation of Revenue [Line Items]
Revenues	150.2	126.8	280.1	238.3
Carlisle Interconnect Technologies | Total international
Disaggregation of Revenue [Line Items]
Revenues	62.4	42.1	117.5	86.4
Carlisle Interconnect Technologies | Europe
Disaggregation of Revenue [Line Items]
Revenues	17.5	16.3	35.7	30.7
Carlisle Interconnect Technologies | North America (excluding U.S.)
Disaggregation of Revenue [Line Items]
Revenues	8.8	2.5	19.6	7.0
Carlisle Interconnect Technologies | Asia and Middle East
Disaggregation of Revenue [Line Items]
Revenues	27.2	20.4	46.5	42.3
Carlisle Interconnect Technologies | Africa
Disaggregation of Revenue [Line Items]
Revenues	3.2	0.9	5.9	2.2
Carlisle Interconnect Technologies | Other
Disaggregation of Revenue [Line Items]
Revenues	5.7	2.0	9.8	4.2
Carlisle Interconnect Technologies | General construction
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0	0.0	0.0
Carlisle Interconnect Technologies | Aerospace
Disaggregation of Revenue [Line Items]
Revenues	94.6	74.0	177.9	139.9
Carlisle Interconnect Technologies | Medical
Disaggregation of Revenue [Line Items]
Revenues	78.1	59.1	142.7	114.3
Carlisle Interconnect Technologies | Transportation
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0	0.0	0.0
Carlisle Interconnect Technologies | Heavy equipment
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0	0.0	0.0
Carlisle Interconnect Technologies | General industrial and other
Disaggregation of Revenue [Line Items]
Revenues	39.9	35.8	77.0	70.5
Carlisle Fluid Technologies
Disaggregation of Revenue [Line Items]
Revenues	72.0	71.6	143.1	137.4
Carlisle Fluid Technologies | United States
Disaggregation of Revenue [Line Items]
Revenues	36.1	31.4	69.5	62.0
Carlisle Fluid Technologies | Total international
Disaggregation of Revenue [Line Items]
Revenues	35.9	40.2	73.6	75.4
Carlisle Fluid Technologies | Europe
Disaggregation of Revenue [Line Items]
Revenues	11.7	13.6	24.6	26.1
Carlisle Fluid Technologies | North America (excluding U.S.)
Disaggregation of Revenue [Line Items]
Revenues	3.3	2.8	7.8	5.3
Carlisle Fluid Technologies | Asia and Middle East
Disaggregation of Revenue [Line Items]
Revenues	19.5	22.3	38.8	41.7
Carlisle Fluid Technologies | Africa
Disaggregation of Revenue [Line Items]
Revenues	0.2	0.2	0.4	0.4
Carlisle Fluid Technologies | Other
Disaggregation of Revenue [Line Items]
Revenues	1.2	1.3	2.0	1.9
Carlisle Fluid Technologies | General construction
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0	0.0	0.0
Carlisle Fluid Technologies | Aerospace
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0	0.0	0.0
Carlisle Fluid Technologies | Medical
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0	0.0	0.0
Carlisle Fluid Technologies | Transportation
Disaggregation of Revenue [Line Items]
Revenues	39.6	35.9	78.0	69.7
Carlisle Fluid Technologies | Heavy equipment
Disaggregation of Revenue [Line Items]
Revenues	0.0	0.0	0.0	0.0
Carlisle Fluid Technologies | General industrial and other
Disaggregation of Revenue [Line Items]
Revenues	$ 32.4	$ 35.7	$ 65.1	$ 67.7

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Stock-Based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation cost incurred	$ 6.2	$ 11.7	$ 15.8	$ 23.1
Capitalized cost during the period	0.0	(5.9)	0.0	(9.3)
Amortization of capitalized cost during the period	0.0	8.8	0.0	14.3
Total stock-based compensation expense	6.2	14.6	15.8	28.1
Stock option awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation cost incurred	2.3	2.3	5.4	5.9
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation cost incurred	1.7	1.7	5.0	3.9
Performance share awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation cost incurred	2.2	1.8	5.4	4.3
Stock appreciation rights
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total stock-based compensation cost incurred	$ 0.0	$ 5.9	$ 0.0	$ 9.0

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Exit and Disposal and Other Restructuring Activities (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Restructuring Cost and Reserve [Line Items]
Exit and disposal costs	$ 1.1		$ 6.6	$ 3.3	$ 8.0
Employee Termination Benefit Costs | WASHINGTON | Impact from COVID-19
Restructuring Cost and Reserve [Line Items]
Exit and disposal costs			4.5		5.1
Exit and disposal costs, expected to be incurred						$ 14.2
Carlisle Interconnect Technologies
Restructuring Cost and Reserve [Line Items]
Exit and disposal costs	1.1		$ 6.6	3.0	$ 7.9
Carlisle Interconnect Technologies | Facility Closing | CALIFORNIA
Restructuring Cost and Reserve [Line Items]
Exit and disposal costs	0.4			1.2
Exit and disposal costs, expected to be incurred	4.8			4.8
Exit and disposal costs, remaining amount	$ 2.0			$ 2.0
Carlisle Interconnect Technologies | Facility Closing | Minimum | CALIFORNIA
Restructuring Cost and Reserve [Line Items]
Exit and disposal costs, expected period to complete		6 months
Carlisle Interconnect Technologies | Facility Closing | Maximum | CALIFORNIA
Restructuring Cost and Reserve [Line Items]
Exit and disposal costs, expected period to complete		9 months

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Exit and Disposal and Other Restructuring Activities - Components of Exit and Disposal Activities (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restructuring Cost and Reserve [Line Items]
Accelerated depreciation and impairments	$ 0.7	$ 2.1	$ 1.3	$ 2.1
Employee severance and benefit arrangements	0.2	3.2	1.3	5.1
Facility cleanup costs	0.1	0.0	0.2	(1.0)
Lease termination costs	0.0	0.0	0.1	0.0
Relocation costs	0.0	0.2	0.0	0.3
Other restructuring costs	0.1	1.1	0.4	1.5
Total exit and disposal costs	1.1	6.6	3.3	8.0
Cost of goods sold
Restructuring Cost and Reserve [Line Items]
Total exit and disposal costs	1.0	3.6	2.9	4.4
Selling and administrative expenses
Restructuring Cost and Reserve [Line Items]
Total exit and disposal costs	0.1	2.8	0.4	3.4
Research and development expenses
Restructuring Cost and Reserve [Line Items]
Total exit and disposal costs	0.0	0.2	0.0	0.2
Carlisle Interconnect Technologies
Restructuring Cost and Reserve [Line Items]
Total exit and disposal costs	1.1	6.6	3.0	7.9
Carlisle Weatherproofing Technologies
Restructuring Cost and Reserve [Line Items]
Total exit and disposal costs	0.0	0.0	0.3	0.0
Carlisle Fluid Technologies
Restructuring Cost and Reserve [Line Items]
Total exit and disposal costs	$ 0.0	$ 0.0	$ 0.0	$ 0.1

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Exit and Disposal and Other Restructuring Activities - Exit and Disposal Activity Liability (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Restructuring Reserve [Roll Forward]
Balance, beginning			$ 6.5
Charges	$ 1.1	$ 6.6	3.3	$ 8.0
Settlements			(8.3)
Balance, ending	$ 1.5		$ 1.5

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Income Taxes (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate on continuing operations (as a percent)	23.50%	18.80%
Anticipated effective tax rate for beginning of year to date (as a percent)	23.80%
Discrete income tax expense (benefit)	$ 1.7

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Inventories, net (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 373.0	$ 288.0
Work-in-process	95.5	76.2
Finished goods	344.9	271.0
Reserves	(32.5)	(30.1)
Inventories, net	$ 780.9	$ 605.1

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Accrued and Other Current Liabilities - Accrued Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Accrued liabilities
Compensation and benefits	$ 113.2	$ 136.2
Customer incentives	96.2	97.9
Standard product warranties	25.0	26.8	$ 27.6	$ 30.0
Income and other accrued taxes	18.6	19.4
Other accrued liabilities	67.0	70.9
Accrued and other current liabilities	$ 320.0	$ 351.2

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Accrued and Other Current Liabilities - Change in Standard Product Warranty Liabilities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Change in aggregate product warranty liabilities
Beginning reserve	$ 26.8	$ 30.0
Provision	4.7	0.1
Claims	(6.0)	(2.3)
Foreign exchange	(0.5)	(0.2)
Ending reserve	$ 25.0	$ 27.6

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Long-term Debt (Details) - USD ($)	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Borrowings
Unamortized discount, debt issuance costs and other	$ (20,100,000)	$ (22,600,000)
Total long term-debt	2,929,900,000	2,927,400,000
Current portion of debt	352,200,000	352,000,000.0
Long term-debt, less current portion	2,577,700,000	2,575,400,000
Letters of credit outstanding	18,100,000	18,900,000
Revolving credit facility
Borrowings
Borrowings from revolving credit facility	0
Repayments of revolving credit facility	0
Revolving credit facility	0	0
Availability under revolving line of credit	1,000,000,000	1,000,000,000
2.20% Notes due 2032
Borrowings
Long-term debt, carrying amount	$ 550,000,000.0	550,000,000.0
Interest rate (as a percent)	2.20%		2.20%
2.20% Notes due 2032 | Significant Observable Inputs (Level 2)
Borrowings
Fair value of notes	$ 429,400,000	529,700,000
2.75% Notes due 2030
Borrowings
Long-term debt, carrying amount	$ 750,000,000.0	$ 750,000,000.0
Interest rate (as a percent)	2.75%	2.75%
2.75% Notes due 2030 | Significant Observable Inputs (Level 2)
Borrowings
Fair value of notes	$ 633,300,000	$ 764,600,000
3.75% Notes due 2027
Borrowings
Long-term debt, carrying amount	$ 600,000,000.0	$ 600,000,000.0
Interest rate (as a percent)	3.75%	3.75%
3.75% Notes due 2027 | Significant Observable Inputs (Level 2)
Borrowings
Fair value of notes	$ 577,900,000	$ 645,800,000
3.50% Notes due 2024
Borrowings
Long-term debt, carrying amount	$ 400,000,000.0	$ 400,000,000.0
Interest rate (as a percent)	3.50%	3.50%
3.50% Notes due 2024 | Significant Observable Inputs (Level 2)
Borrowings
Fair value of notes	$ 396,000,000.0	$ 419,800,000
0.55% Notes due 2023
Borrowings
Long-term debt, carrying amount	$ 300,000,000.0	$ 300,000,000.0
Interest rate (as a percent)	0.55%	0.55%
0.55% Notes due 2023 | Significant Observable Inputs (Level 2)
Borrowings
Fair value of notes	$ 289,900,000	$ 297,500,000
3.75% Notes due 2022
Borrowings
Long-term debt, carrying amount	$ 350,000,000.0	$ 350,000,000.0
Interest rate (as a percent)	3.75%	3.75%
3.75% Notes due 2022 | Significant Observable Inputs (Level 2)
Borrowings
Fair value of notes	$ 350,500,000	$ 356,200,000
Revolving credit facility | Letter of credit
Borrowings
Availability under revolving line of credit	91,900,000
Maximum borrowing capacity	$ 110,000,000

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Employee Benefit Plans (Details) - Defined Benefit Plans - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Components of net periodic benefit cost
Service cost	$ 0.6	$ 0.7	$ 1.2	$ 1.4
Interest cost	0.8	0.7	1.6	1.4
Expected return on plan assets	(2.4)	(2.5)	(4.8)	(4.9)
Amortization of unrecognized loss	1.2	1.6	2.5	3.2
Settlement expense	0.5	0.5	0.9	0.9
Net periodic benefit cost	0.7	1.0	1.4	2.0
Amortization of unrecognized actuarial loss, provision for income tax	$ (0.3)	$ (0.4)	$ (0.6)	$ (0.8)

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Financial Instruments (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Derivative Financial Instruments
Investment grade bonds	$ 19.7	$ 30.3
Cash
Derivative Financial Instruments
Deferred compensation, Rabbi Trust	5.0	5.7
Short-term Investments
Derivative Financial Instruments
Deferred compensation, Rabbi Trust	7.4	8.1
Foreign Exchange Forward | Designated hedges
Derivative Financial Instruments
Fair value	0.7	2.7
Notional Value	$ 121.7	127.6
Foreign Exchange Forward | Designated hedges | Cash Flow Hedging
Derivative Financial Instruments
Maturity term (less than)	1 year
Foreign Exchange Forward | Non-designated hedges
Derivative Financial Instruments
Fair value	$ (0.1)	0.2
Notional Value	$ 114.5	$ 82.5
Maturity term (less than)	1 year