WABCO (WBC) 10-Q 24 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 20, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	WABCO Holdings Inc.
Entity Central Index Key	1,390,844
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Trading Symbol	WBC
Entity Common Stock, Shares Outstanding		57,942,254

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Sales	$ 661.1	$ 735	$ 1,313.3	$ 1,464.5
Cost of sales	453.6	505.3	892.2	1,017
Gross Profit	207.5	229.7	421.1	447.5
Costs and expenses:
Selling and administrative expenses	90.2	96.2	178.2	189.1
Product engineering expenses	36.2	41.1	74.6	77.4
Other operating expenses, net	0.5	2	2.2	6.4
Operating income	80.6	90.4	166.1	174.6
Equity income of unconsolidated joint ventures, net	8	5.8	14.6	11.5
Other non-operating income/(expense), net	(0.9)	(0.5)	1	(2.8)
Interest expense, net	(0.9)	0.1	(1.6)	0.2
Income before income taxes	86.8	95.8	180.1	183.5
Income tax expense	18.5	17.9	37	33.7
Net Income	68.3	77.9	143.1	149.8
Less: net income attributable to noncontrolling interests	2.5	2.9	5.4	5.4
Net income attributable to Company	$ 65.8	$ 75	$ 137.7	$ 144.4
Net income attributable to Company per common share
Basic (in usd per share)	$ 1.13	$ 1.24	$ 2.37	$ 2.37
Diluted (in usd per share)	1.12	1.23	2.35	2.35
Cash dividends per share of common stock (in usd per share)	$ 0	$ 0	$ 0	$ 0
Weighted average common shares outstanding
Basic (in shares)	58,063,388	60,410,581	58,159,649	60,837,176
Diluted (in shares)	58,493,352	61,041,885	58,663,339	61,516,769

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 68.3	$ 77.9	$ 143.1	$ 149.8
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	29.3	(2.8)	(71.3)	(3)
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	(6.5)	0.7	18.1	1.7
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	0	0	(1.3)	0
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	$ 0	$ 0.1	$ 0	$ 0.2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 488.6	$ 411.7
Short-term Investments	45	0
Accounts receivable, less allowance for doubtful accounts of $3.7 in 2015 and $4.1 in 2014	489.7	445.6
Inventories:
Finished products	94.5	87.3
Products in process	6.5	7.5
Raw materials	99.9	94.8
Taxes receivable on income	4	4.1
Future income tax benefits	18.7	20.8
Guaranteed notes receivable	54.6	52.8
Other current assets	102.2	57.9
Total current assets	1,403.7	1,182.5
Property, plant, and equipment, less accumulated depreciation	404.9	424.9
Goodwill	390.9	421
Long-term future income tax benefits	248.2	268.7
Investments in unconsolidated joint ventures	21.6	19.6
Intangible assets, net	69.3	78.4
Other assets	56.4	37.6
TOTAL ASSETS	2,595	2,432.7
Current liabilities:
Loans payable to banks	3	8.1
Accounts payable	159.3	121.2
Accrued payroll	101.5	103.9
Current portion of warranties	24.8	25.8
Accrued Liabilities, Current	58.9	58.5
Other accrued liabilities	111	100.2
Total current liabilities	458.5	417.7
Long-term debt	498.8	307.1
Post-retirement benefits	555.3	595
Deferred tax liabilities	123	129.2
Long-term income tax liabilities	47.5	48.5
Other liabilities	42.2	46.2
Total liabilities	1,725.3	1,543.7
Shareholders' equity:
Preferred stock, 4,000,000 shares authorized; none issued and outstanding	0	0
Common stock, $.01 par value, 400,000,000 shares authorized; shares issued: 78,183,825 in 2015; 77,961,040 in 2014; and shares outstanding: 58,074,006 in 2015; 58,425,873 in 2014	0.8	0.8
Capital surplus	846.2	828.3
Treasury stock, at cost: 20,109,819 shares in 2015; 19,535,167 shares in 2014	(1,372.4)	(1,248.1)
Retained earnings	1,800.9	1,663.3
Accumulated Other Comprehensive Income (Loss), Net of Tax	(456.7)	(402.7)
Total shareholders' equity	818.8	841.6
Noncontrolling interests	50.9	47.4
Total equity	869.7	889
TOTAL LIABILITIES AND EQUITY	$ 2,595	$ 2,432.7

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Accounts receivable, allowance for doubtful accounts	$ 3.9	$ 4.1
Preferred stock, shares authorized	4,000,000	4,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	78,459,026	77,961,040
Common stock, shares outstanding	57,848,394	58,425,873
Treasury stock, shares	(20,610,632)	(19,535,167)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Document Period End Date	Jun. 30, 2015
Operating activities:
Net income	$ 143.1	$ 149.8
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	36.9	40.8
Amortization of intangibles	9.9	8.9
Equity in earnings of unconsolidated joint ventures, net of dividends received	(2.1)	(1)
Non-cash stock compensation	7	7.6
Deferred income tax expense	(0.3)	(0.6)
Post-retirement benefit expense	20.9	16.4
Loss on sale or disposal of property, plant and equipment	0.2	0.2
Changes in assets and liabilities:
Accounts receivable, net	(68.8)	(38.5)
Inventories	(21.5)	(12.8)
Accounts payable	45.4	22.5
Other accrued liabilities and taxes	15.7	(2.5)
Other current and long-term assets	(9.8)	(16.5)
Other long-term liabilities	(1.6)	3.7
Post-retirement benefit payments	(10)	(15.3)
Net cash provided by operating activities	165	162.7
Investing activities:
Purchases of property, plant and equipment	(37.7)	(44)
Investments in capitalized software	(5.8)	(7.1)
Proceeds from sale of short-term investments	(82.5)	0
Payments to Acquire Other Investments	20	0
Acquisitions, net	0	125.9
Net cash used in investing activities	(146)	(177)
Financing activities:
Proceeds from Long-term Lines of Credit	577.8	152
Repayments of Long-term Lines of Credit	(385)	0
Net repayments of short-term debt	(4.8)	(14.8)
Purchases of treasury stock	(120.5)	(194.4)
Dividends to noncontrolling interest holders	(1.5)	(2.5)
Payments to Acquire Additional Interest in Subsidiaries	0	(5.7)
Proceeds from exercise of stock options	15.9	11.2
Net cash used in financing activities	81.9	(54.2)
Effect of exchange rate changes on cash and cash equivalents	(24)	(3.5)
Net decrease in cash and cash equivalents	76.9	(72)
Cash and cash equivalents at beginning of period	411.7
Cash and cash equivalents at end of period	488.6	400.8
Cash paid during the period for:
Interest	2.1	0.6
Income taxes	33.2	19.3
Non cash items for the period:
Treasury stock purchase accrual	3.9	6.1
Unrealized Gain (Loss) on Investments	$ 0	$ 0.2

Basis of Financial Statement Pr

Basis of Financial Statement Presentation	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Financial Statement Presentation	Basis of Financial Statement Presentation WABCO Holdings Inc. and its subsidiaries (collectively WABCO or the Company) develops, manufactures and sells advanced braking, stability, suspension and transmission automation and air management control systems primarily for commercial vehicles. WABCO’s largest selling products are pneumatic anti-lock braking systems (ABS), electronic braking systems (EBS), electronic stability control (ESC), automated manual transmission systems, air disc brakes and a large variety of conventional mechanical products such as actuators, air compressors and air control valves for heavy- and medium-sized trucks, buses and trailers. We supply advanced electronic suspension controls and vacuum pumps to the passenger car and SUV markets in Europe, North America and Asia. In addition, we supply commercial vehicle aftermarket distributors and service partners as well as fleet operators with replacement parts, fleet management solutions, diagnostic tools, training and other expert services. WABCO sells its products primarily to four groups of customers around the world: truck and bus original equipment manufacturers (OEMs), trailer OEMs, commercial vehicle aftermarket distributors of replacement parts and services, and automotive OEMs. We also provide remanufacturing services globally. The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions for Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments, including normal recurring items, considered necessary for a fair presentation of financial data have been included. The results of operations for interim periods are not necessarily indicative of the results that may be expected for the entire year. The condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and accompanying notes for the year ended December 31, 2014 , included in the Company’s Annual Report on Form 10-K. Based on the organizational structure, as well as the nature of financial information available and reviewed by the Company’s chief operating decision maker to assess performance and make decisions about resource allocations, the Company has concluded that its total WABCO operations represent one reportable segment and that WABCO’s performance and future net cash flow perspectives are best understood and assessed as such. All majority-owned subsidiaries of WABCO are included in the consolidated financial statements and intercompany transactions are eliminated upon consolidation. WABCO’s investments in unconsolidated joint ventures are included at cost plus its equity in undistributed earnings less dividends and changes in foreign currency in accordance with the equity method of accounting and reflected as investments in unconsolidated joint ventures in the consolidated balance sheet. Preparation of the financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the period. Management believes the most complex and sensitive judgments, because of their significance to the condensed consolidated financial statements, result primarily from the need to make estimates about the effects of matters that are inherently uncertain. Management’s Discussion and Analysis of Financial Condition and Results of Operations and Notes 2 and 15 to the Consolidated Financial Statements for the year ended December 31, 2014 , in the Company’s Annual Report on Form 10-K, describe the most significant accounting estimates and policies used in the preparation of the Consolidated Financial Statements. Actual results in these areas could differ materially from management’s estimates. There have been no significant changes in the Company’s assumptions regarding critical accounting estimates during the first six months of 2015 .

Recently Issued Accounting Stan

Recently Issued Accounting Standards	6 Months Ended
	Jun. 30, 2015
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards The adoption of recently issued accounting standards did not have a material impact on the condensed consolidated financial statements. In June 2015, the FASB issued Accounting Standards Update 2015-10 (ASU 2015-10) Technical Corrections and Improvements , which clarifies various topics in the FASB Accounting Standards Codification. ASU 2015-10 is effective for the interim and annual periods ending after December 15, 2015. Early adoption is permitted. The Company does not expect any material impact from adoption of this guidance on the Company's condensed consolidated financial statements. In April 2015, the FASB issued ASU 2015-03 Simplifying the Presentation of Debt Issuance Costs , which require debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. ASU 2015-03 is effective for the interim and annual periods ending after December 15, 2015. Early adoption is permitted, and the Company adopted the provisions of ASU 2015-03 retrospectively as of June 30, 2015. There was no impact from adoption of this guidance on prior period information presented in the condensed consolidated financial statements. In August 2014, the FASB issued ASU 2014-15 Presentation of Financial Statements - Going Concern , which provide guidance about management's responsibility in evaluating whether there is substantial doubt relating to an entity’s ability to continue as a going concern and to provide related footnote disclosures as applicable. ASU 2014-15 is effective for the interim and annual periods ending after December 15, 2016. The Company does not expect any material impact from adoption of this guidance on the Company's condensed consolidated financial statements. In May 2014, the FASB issued ASU 2014-09 Revenue from Contracts with Customers , which is a new comprehensive revenue recognition standard on the financial reporting requirements for revenue from contracts entered into with customers. ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2016. The FASB subsequently deferred the effective date of this standard to December 15, 2017 with early adoption permitted as of December 15, 2016. The Company is currently assessing the potential impact of the adoption of this guidance on its condensed consolidated financial statements.

Comprehensive Income

Comprehensive Income	6 Months Ended
	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Comprehensive Income	Comprehensive Income The table below presents the changes in accumulated other comprehensive loss for the three and six month periods ended June 30, 2015 and 2014 . Three Months Six Months (Amount in millions) 2015 2014 2015 2014 Foreign currency translation adjustments: Balance at beginning of period (248.0 ) (7.1 ) (148.1 ) (5.5 ) Adjustment for the period 30.3 (3.4 ) (69.6 ) (5.0 ) Balance at end of period (217.7 ) (10.5 ) (217.7 ) (10.5 ) Losses on intra-entity transactions (1) : Balance at beginning of period (11.1 ) (8.8 ) (9.9 ) (8.9 ) Adjustment for the period — 0.6 (1.2 ) 0.7 Balance at end of period (11.1 ) (8.2 ) (11.1 ) (8.2 ) Unrealized gains on investments: Balance at beginning of period 0.2 0.1 0.2 — Adjustment for the period — 0.1 — 0.2 Amounts reclassified to earnings, net — — — — Balance at end of period 0.2 0.2 0.2 0.2 Unrealized losses on hedges: Balance at beginning of period (1.3 ) — — — Adjustment for the period (2) — — (1.3 ) — Amounts reclassified to earnings, net — — — — Balance at end of period (1.3 ) — (1.3 ) — Pension and post-retirement plans: Balance at beginning of period (220.3 ) (108.0 ) (244.9 ) (109.0 ) Other comprehensive income before reclassifications (9.1 ) (0.3 ) 13.1 (0.3 ) Amounts reclassified to earnings, net (3) 2.6 1.0 5.0 2.0 Balance at end of period $ (226.8 ) $ (107.3 ) $ (226.8 ) $ (107.3 ) Accumulated other comprehensive loss at end of period $ (456.7 ) $ (125.8 ) $ (456.7 ) $ (125.8 ) (1) Relates to intra-entity foreign currency transactions that are of a long term investment nature, when the entities to the transaction are consolidated, combined or accounted for by the equity method in the Company's financial statements. (2) The adjustment for the period is net of taxes of $0.7 million for the six months ended June 30, 2015 . See Note 14 for further discussion. (3) This accumulated other comprehensive income component, net of taxes of $1.0 million and $0.4 million for the three months ended June 30, 2015 and 2014 and $2.0 million and $0.8 million for the six months ended June 30, 2015 and 2014 , is included in the computation of net periodic pension cost. See Note 13 for additional details.

Accounts Receivable Securitizat

Accounts Receivable Securitization Program & Financing Receivables	6 Months Ended
	Jun. 30, 2015
Accounts Receivable Financing Facility [Abstract]
Accounts Receivable Securitization Program & Financing Receivables	Financing Receivables As discussed in the Company's 2014 Form 10-K, the Company had previously established an accounts receivable securitization program (the Accounts Receivable Securitization Program) which expired on September 26, 2014 and was not renewed. Prior to the expiration of this program, the Company had sold all of its eligible receivables into the Accounts Receivable Securitization Program. The receivables were removed from the balance sheet in accordance with the guidance under ASC 860, Transfers and Servicing . The total amount of receivables sold under the Accounts Receivable Securitization Program for the first six months of 2014 were €367.2 million ( $499.3 million at average exchange rates for the six months ended June 30, 2014 ). The fair value of the receivables sold equaled the carrying cost at time of sale, and no gain or loss was recorded as a result of the sale. The Company estimated the fair value of sold receivables using Level 3 inputs and based the estimate on historical and anticipated performance of similar receivables, including historical and anticipated credit losses (if any). As part and through the expiration of the Accounts Receivable Securitization Program, the Company continued to service the receivables. The Company sold the receivables at face value, but received actual funding net of a subordinated deposit account with Société Générale until collections were received from customers for the receivables sold. The Company was exposed to the credit losses of sold receivables up to the amount of its subordinated deposit account at each settlement date. Credit losses for receivables sold and past due amounts outstanding at June 30, 2014 were immaterial. Servicing fees paid for the program were $0.5 million for the six months ended June 30, 2014 . Other receivables available for financing include receivables from reputable state owned and public enterprises in China that are settled through bankers acceptance drafts, which are registered and endorsed to the Company. These notes receivable are fully guaranteed by banks and generally have contractual maturities of six months or less, but the ultimate recourse remains against the trade debtor. These guaranteed drafts are available for discounting with banking institutions in China or transferring to suppliers to settle liabilities. The total amount of notes receivable discounted or transferred for the first six months of 2015 and 2014 were $ 45.7 million and $ 30.4 million , respectively. Expenses related to discounting these notes amounted to $0.2 million for the six months ended June 30, 2015 . There were no expenses for the six months ended June 30, 2014 . The fair value of these guaranteed notes receivable is determined based on Level 2 inputs including credit ratings and other criteria observable in the market. The fair value of these notes equal their carrying amounts of $ 54.6 million and $ 59.4 million as of June 30, 2015 and December 31, 2014 , respectively. The Company monitors the credit quality of both the drawers of the drafts and guarantors on a monthly basis by reviewing various factors such as payment history, level of state involvement in the institution, size, national importance as well as current economic conditions in China. Since the Company has not experienced any historical losses nor is expecting future credit losses based on a review of the various credit quality indicators described above, we have not established a loss provision against these receivables as of June 30, 2015 or December 31, 2014 .

Net Income Attributable to Comp

Net Income Attributable to Company per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Net Income Attributable to Company per Share	Net Income Attributable to Company per Share Basic net income attributable to Company per share has been computed using the weighted average number of WABCO common shares outstanding. The average number of outstanding shares of common stock used in computing diluted net income attributable to Company per share includes weighted average incremental shares when the impact is not anti-dilutive. The weighted average incremental shares represent the net amount of shares the Company would issue upon the assumed exercise of in-the-money stock options and vesting of restricted stock units (RSUs) and deferred stock units (DSUs) after assuming that the Company would use the proceeds from the exercise of options to repurchase stock. The weighted average incremental shares also includes the net amount of shares issuable for performance stock units (PSUs) at the end of the reporting period, if any at all, based on the number of shares issuable if the end of the period were the end of the vesting period. Anti-dilutive shares, if applicable, are excluded and represent those options, RSUs, PSUs and DSUs whose assumed proceeds were greater than the average price of the Company’s common stock. Three Months Six Months 2015 2014 2015 2014 Weighted average incremental shares included 429,964 631,304 503,690 679,593 Shares excluded due to anti-dilutive effect — — 190 1,344

Capital Stock

Capital Stock	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Capital Stock	Capital Stock The following is a summary of net shares outstanding and shares issued or reacquired during the six month period ended June 30, 2015 . Number of Shares of Common Stock Total Shares Treasury Shares Net Shares Outstanding Balance, December 31, 2014 77,961,040 (19,535,167 ) 58,425,873 Shares issued upon exercise of stock options 377,792 — 377,792 Shares issued upon vesting of RSUs 116,019 — 116,019 Shares issued for DSUs 4,175 — 4,175 Shares purchased for treasury — (1,075,465 ) (1,075,465 ) Balance, June 30, 2015 78,459,026 (20,610,632 ) 57,848,394 The Company accounts for purchases of treasury stock under the cost method with the costs of such share purchases reflected in treasury stock in the accompanying condensed consolidated balance sheets. When treasury shares are reissued, they are recorded at the average cost of the treasury shares acquired since the inception of the share repurchase programs, net of shares previously reissued and the Company reflects the difference between the average cost paid and the amount received for the reissued shares in capital surplus. As of June 30, 2015 , no shares have been reissued. On May 26, 2011, the Board of Directors approved the repurchase of shares in an amount not to exceed $400 million , which expired on May 31, 2013. On October 26, 2012, the Board of Directors authorized the Company to enter into an additional share repurchase program for $400 million of common shares. An additional repurchase program for $200 million of common shares was further authorized on October 29, 2013. Both of these authorizations expired on December 31, 2014. On December 5, 2014, the Board of Directors approved a repurchase program for an additional $500 million of common shares. This authorization expires on December 31, 2016. As of June 30, 2015 , the Company has repurchased a total of $ 1,096.1 million of shares under these four repurchase programs, leaving an unexpended balance of $ 375.7 million available to repurchase shares in the future. Subsequent to June 30, 2015 , the Company repurchased an additional 106,000 shares for a total of $ 13.0 million . The Company plans to continue to purchase shares at prevailing market prices. The timing and amount of share repurchases, if any, will depend on a variety of factors, including, among other things, share price, market conditions and applicable regulatory requirements.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2015
Share-based Compensation [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company records stock-based compensation based on the estimated fair value of the award at the grant date and recognizes that as an expense in the condensed consolidated statements of operations over the requisite service period. The estimated fair value of the award is based on the closing market price of the Company’s common stock on the date of grant. As part of its equity incentive program, the Company grants PSUs, the vesting of which would occur, if at all, and at levels depending upon, the achievement of three-year cumulative goals tied to earnings per share. The Company assesses the expected achievement levels at the end of each reporting period, and the Company’s best estimate of ultimate performance against the respective targets is applied to the grant date fair value of the award on a straight-line basis over the requisite vesting period of the awards to determine compensation expense on the award. As of June 30, 2015 , the Company believes it is probable that the performance conditions will be met and has accrued for the compensation expense accordingly. The Company also grants DSUs to its non-management directors as part of the equity portion of their annual retainer. The DSUs are fully vested at grant. Each DSU provides the right to the issuance of a share of our common stock, within ten days after the earlier of the director’s death or disability, the 13-month anniversary of the grant date or the director’s separation from service. Each director may also elect within a month after the grant date to defer the receipt of shares for five or more years. No election can be made to accelerate the issuance of stock from a DSU. Total stock-based compensation cost recognized during the three and six month periods ended June 30, 2015 and 2014 was as follows: Three Months Six Months (Amount in millions) 2015 2014 2015 2014 Stock-based compensation $ 3.3 $ 4.2 $ 7.0 $ 7.6 The total number and type of awards granted during the periods presented and the related weighted-average grant-date fair values were as follows: Six Months Six Months Underlying Shares Weighted Average Grant Date Fair Value Underlying Shares Weighted Average Grant Date Fair Value RSUs Granted 65,394 $ 116.51 78,342 $ 99.76 PSUs Granted 58,630 $ 116.38 65,508 $ 103.41 DSUs Granted 5,512 $ 130.73 6,680 $ 107.88 Stock Awards Granted — $ — 800 $ 96.37 Total Awards 129,536 151,330 The RSUs granted during the periods presented above have vesting terms as follow: Six Months 2015 2014 Vest in equal annual installments over three years 62,055 74,756 Vest after two years 652 — Vest after three years 2,687 3,586 Total RSUs granted 65,394 78,342

Debt

Debt	6 Months Ended
	Jun. 30, 2015
Long-term Debt, Unclassified [Abstract]
Debt	Debt Senior Notes On May 8, 2015 , the Company entered into a note purchase agreement (the Note Purchase Agreement) for the issuance of $150 million of 2.83% senior unsecured notes due June 25, 2022 (the Series A Notes), $200 million of 3.08% senior unsecured notes due June 25, 2025 (the Series B Notes) and $150 million of 3.18% senior unsecured notes due June 25, 2027 (the Series C Notes; and together with the Series A Notes and the Series B Notes, collectively, the Senior Notes). The Senior Notes were issued and funded on June 25, 2015 . The Company paid approximately $2.1 million of debt issuance costs in connection with the Senior Notes, which has been presented in the condensed consolidated balance sheets as a direct reduction of the related debt liability. Interest on the Senior Notes is payable semi-annually on January 1 and July 1 of each year (other than July 1, 2015). The proceeds from the Senior Notes were partially utilized to repay the outstanding balance on our revolving credit facilities. The remaining proceeds are intended to fund our share repurchase program, finance acquisitions, refinance existing indebtedness and meet general financing requirements. Subject to certain conditions, the Company may, at its option, prepay all or part of the Senior Notes plus any accrued and unpaid interest to the date of prepayment and certain penalties as defined in the Note Purchase Agreement. The Company may also be required, subject to certain events and conditions, to make an offer to prepay all of the Senior Notes including any accrued and unpaid interest to the date of prepayment. Each holder has the option to accept or reject such offer to prepay. The Note Purchase Agreement contains customary affirmative and negative covenants, and financial covenants consisting of a consolidated net indebtedness ratio and a consolidated EBITDA (earnings before interest, taxes, depreciation and amortization adjusted for certain items) ratio of not more than three times at the end of each period of twelve consecutive months. The Company is further required to maintain a ratio of consolidated EBITDA to consolidated net interest expense of not more than three times at the end of each fiscal quarter. The Note Purchase Agreement also provides for customary events of default, the occurrence of which could result in an acceleration of the Company's obligations under the Note Purchase Agreement. We were in compliance with all of the covenants as of June 30, 2015 . Revolving Credit Facilities On July 8, 2011 , the Company entered into a $400 million multi-currency five -year senior unsecured revolving credit facility (the 2011 Facility) with the lenders and agent banks party thereto, including Banc of America Securities Limited as agent, issuing bank and swingline lender, and Banc of America Securities Limited, Citigroup Global Markets Limited, Fortis Bank S.A./N.V., ING Belgium SA/NV, Société Générale Corporate & Investment Banking, The Bank of Tokyo-Mitsubishi UFJ, Ltd and The Royal Bank of Scotland NV, (Belgium) Branch, as mandated lead arrangers and bookrunners and Credit Lyonnais and Unicredit Bank AG as lead arrangers. As of June 30, 2015 , this is our principal bank credit facility and it expires on September 1, 2018 pursuant to an amendment agreement to extend the original expiry date. On December 17, 2014 , the Company entered into a new $100 million multi-currency five -year senior unsecured revolving credit facility (the 2014 Facility) with the lenders and agent banks party thereto, including Citibank International Limited as Agent, and Bank of America N.A., London Branch, Citigroup Global Markets Limited, BNP Paribas Fortis Bank S.A./N.V., the Bank of Tokyo-Mitsubishi UFJ Ltd. and Unicredit Bank AG as lead arrangers. This facility will expire on December 17, 2019 . Under the revolving credit facilities, the Company may borrow, on a revolving basis, loans in an aggregate principal amount at any one time outstanding not in excess of $500 million . Up to $50 million under the 2011 Facility may be used for issuing letters of credit, of which $49.3 million was unused as of June 30, 2015 , and up to $50 million is available in the form of swing line loans, all $50 million of which was available for use as of June 30, 2015 . The following table summarizes the balance outstanding on these facilities: As of June 30, 2015 As of December 31, 2014 (Amounts in millions) Outstanding borrowings Letters of credit Outstanding borrowings Letters of credit 2011 Facility $ — $ 0.7 $ 206.0 $ 0.9 2014 Facility $ — $ — $ 100.0 $ — $ — $ 0.7 $ 306.0 $ 0.9 Incremental ability to borrow $ 499.3 $ 193.1 The carrying amounts of the facilities approximated fair value based upon Level 2 inputs as of each of the periods presented above. Interest on loans under the revolving credit facilities will be calculated at a rate per annum equal to an applicable margin, which can vary from 0.80% to 1.55% for the 2011 Facility and 0.45% to 1.00% for the 2014 Facility based on the Company's leverage ratio, plus LIBOR for loans denominated in U.S. Dollars, EURIBOR for loans denominated in Euros, HIBOR for loans denominated in Hong Kong Dollars and SIBOR for loans denominated in Singapore Dollars, plus mandatory costs, if any. The revolving credit facilities contain terms and provisions (including representations, covenants and conditions) customary for transactions of this type. Our primary financial covenant is a leverage test which requires net indebtedness not to exceed three times adjusted four quarter trailing EBITDA (earnings before interest, taxes, depreciation and amortization adjusted for certain items). Additional financial covenants include an interest coverage test and a maximum subsidiary indebtedness test. The interest coverage test requires three times interest expense not to exceed adjusted four quarter trailing EBITDA. The maximum subsidiary indebtedness test limits the total aggregate amount of indebtedness of WABCO's subsidiaries, excluding indebtedness under the facilities, to $400 million under the 2011 Facility and $500 million under the 2014 Facility, of which not more than $150 million may be secured. Financial covenants are not subject to any future changes in U.S. GAAP accounting standards and all cash on the balance sheet can be deducted for net indebtedness purposes. In addition, expenses and payments related to any streamlining of WABCO’s operations are excluded when calculating the four quarter trailing adjusted EBITDA. Other covenants include delivery of financial reports and other information, compliance with laws including environmental laws and permits, ERISA and U.S. regulations, limitations on liens, mergers and sales of assets and change of business. We were in compliance with all of the covenants as of June 30, 2015 . Other Debt As of June 30, 2015 , various subsidiaries also had borrowings from banks totaling $3.9 million , of which $0.9 million was classified as long-term debt. The remaining $ 3.0 million supports local working capital requirements.

Warranties, Guarantees, Commitm

Warranties, Guarantees, Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Warranties, Guarantees, Commitments and Contingencies [Abstract]
Warranties, Guarantees, Commitments and Contingencies	Warranties, Guarantees, Commitments and Contingencies Warranties Products sold by WABCO are covered by a basic limited warranty with terms and conditions that vary depending upon the product and country in which they were sold. The limited warranty covers the equipment, parts and labor (in certain cases) necessary to satisfy the warranty obligation generally for a period of two years. Estimated product warranty expenses are accrued in cost of goods sold at the time the related sale is recognized. Estimates of warranty expenses are based primarily on warranty claims experience and specific customer contracts. Warranty expenses include accruals for basic warranties for product sold, as well as accruals for product recalls, service campaigns and other related events when they are known and estimable. To the extent WABCO experiences changes in warranty claim activity or costs associated with servicing those claims, its warranty accrual is adjusted accordingly. Warranty accrual estimates are updated based upon the most current warranty claims information available. The following is a summary of changes in the Company’s product warranty liability for the three and six month periods ended June 30, 2015 and 2014 . Three Months Six Months (Amount in millions) 2015 2014 2015 2014 Balance of warranty costs accrued, beginning of period $ 41.0 $ 52.2 $ 45.2 $ 51.6 Warranty costs accrued 6.5 7.3 11.6 14.6 Warranty claims settled (5.7 ) (7.0 ) (10.9 ) (13.5 ) Foreign exchange translation effects 1.1 (0.3 ) (3.0 ) (0.5 ) Balance of warranty costs accrued, end of period $ 42.9 $ 52.2 $ 42.9 $ 52.2 Current liability, included in current portion of warranties $ 24.8 $ 30.4 $ 24.8 $ 30.4 Long-term liability, included in other liabilities $ 18.1 $ 21.8 $ 18.1 $ 21.8 Warranty costs net of recoveries $ 6.5 $ 5.1 $ 11.6 $ 12.4 Guarantees and Commitments The Company has uncollateralized bank guarantees for $ 48.7 million , of which $ 43.1 million is related to tax and other litigation, $ 0.7 million is related to letters of credit, $0.7 million is related to performance bonds and $ 4.2 million is related to other items. Right of Recourse In the ordinary course of business, the Company may receive banker's acceptance drafts from customers in China in payment of outstanding accounts receivable. These banker's acceptance drafts are non-interest bearing obligations of the issuing bank and generally have contractual maturities of six months or less. The Company may use these banker's acceptance drafts prior to the scheduled maturity date to settle outstanding accounts payable with vendors. Banker's acceptance drafts transferred to vendors are subject to customary right of recourse provisions prior to their scheduled maturity date. As of June 30, 2015 , the Company had approximately $15.2 million of banker's acceptance drafts subject to customary right of recourse provisions, which were transferred to vendors and had not reached their scheduled maturity date. Historically, the banker's acceptance drafts have settled upon maturity without any claim of recourse against the Company. Contingencies We are subject to proceedings, lawsuits and other claims related to products and other matters. We are required to assess the likelihood of any adverse judgments or outcomes to these matters as well as potential ranges of probable and reasonably possible losses. A determination of the amount of liability to be recorded, if any, for these contingencies is made after careful analysis of each individual issue. In conjunction with the Tax Sharing Agreement, as further discussed in Note 11, WABCO is responsible for certain tax and indemnification liabilities. These liabilities include indemnification liabilities to Trane of $ 1.8 million as of June 30, 2015 . It is reasonably possible that the Company could incur losses in excess of the amount accrued. Although this amount cannot be estimated, we believe that any additional losses would not have a material adverse impact on the condensed consolidated financial statements.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The income tax expense was $37.0 million on pretax income of $ 180.1 million before adjusting for noncontrolling interest for the six months ended June 30, 2015 , and $33.7 million on pretax income of $183.5 million for the six months ended June 30, 2014 . Income tax expense is the net result of taxes on the mix of earnings in multiple tax jurisdictions, the accrual of interest on uncertain tax positions, and certain foreign tax planning. Furthermore, income tax expense is partially offset by the release of tax accruals of approximately $1.6 million during the six months ended June 30, 2015 due to the settlement of a foreign tax audit and the expiration of a statute of limitation. Unrecognized tax benefits at June 30, 2015 amounted to $ 47.5 million , which is classified as a long-term liability. There are no unrecognized tax benefits related to WABCO obligations directly to tax authorities for Trane’s Bath and Kitchen business as further discussed in Note 11. The Company recognizes interest and penalties accrued related to unrecognized tax benefits in income tax expense. The Company is subject to taxation in the United States and various state and foreign jurisdictions. With no material exceptions, the Company is no longer subject to U.S. federal, state, local or foreign examinations by tax authorities for years before 2008.

Tax and Indemnification Liabili

Tax and Indemnification Liabilities Transferred from Trane to WABCO	6 Months Ended
	Jun. 30, 2015
Tax And Indemnification Liabilities [Abstract]
Tax and Indemnification Liabilities Transferred from Trane to WABCO	Tax and Indemnification Liabilities Transferred from Trane to WABCO Pursuant to the Tax Sharing Agreement between Trane and WABCO, entered into on July 16, 2007, and other agreements with Trane as filed in WABCO’s Form 10 prior to its spin-off from Trane, WABCO is responsible for certain tax contingencies and indemnification liabilities. As noted in Note 10, the liabilities as of June 30, 2015 included no amounts related to non-U.S. entities of Trane’s former Bath and Kitchen business but for which WABCO entities have obligations directly to non-U.S. tax authorities. In addition, as of June 30, 2015 , the Company had indemnification liabilities of $ 1.8 million of which $ 0.7 million are classified within long-term liabilities and $ 1.1 million are classified within short-term liabilities on the balance sheet. Under an indemnification agreement, WABCO Brazil is responsible for certain claims related to its business for periods prior to the spin-off of WABCO from Trane. In particular, there are tax claims pending in various stages of the Brazilian legal process related to income, social contribution and/or value added taxes for which a contingency exists and which may or may not ultimately be incurred by the Company. The estimated total amount of the contingency as of June 30, 2015 is $ 32.8 million including interest. However, based on management’s assessment and advice of our external legal counsel, the Company believes that it has valid arguments in all of these cases and thus no accrual is required at this time.

Streamlining Expenses

Streamlining Expenses	6 Months Ended
	Jun. 30, 2015
Restructuring Charges [Abstract]
Streamlining Expenses	Streamlining Expenses The Company accounts for employee-related streamlining charges as either a one-time benefit arrangement or an ongoing benefit arrangement as appropriate. From time to time the Company also has streamlining charges that are not related to employees, such as facility exit costs. Based on market declines occurring in the fourth quarter of 2008, we commenced a streamlining program on October 28, 2008 (the 2008/2009 Program), which began with a consultative process with works councils and employee representatives globally. The 2008/2009 Program reduced our global workforce by approximately 1,800 employees. This level of reduction in workforce brought our capacity in line with market demand, while still allowing us to continue our focus on core strategies, including technology, new products, globalization, and quality and productivity initiatives. We believe the completion of these actions created sufficient flexibility in production and helped us to cope with anticipated demand volatility. The Company does not expect to incur any further charges on the 2008/2009 Program and has fully paid all liabilities related to this program in 2015. Based on the Company’s efforts to maintain our global footprint, the Company will periodically enter into other streamlining programs as deemed necessary (Other Programs). The following is a summary of changes in the Company’s streamlining program liabilities for the six month period ended June 30, 2015 . Activity for the period consisted primarily of termination payments and employee-related charges. (Amounts in millions) 2008 / 2009 Program Balance as of December 31, 2014 $ 3.3 Charges during the first six months of 2015 — Payments during the first six months of 2015 (3.3 ) Balance as of June 30, 2015 $ — Other Programs Balance as of December 31, 2014 $ 30.6 Charges during the first six months of 2015 9.4 Payments during the first six months of 2015 (3.7 ) Balance as of June 30, 2015 $ 36.3 Foreign exchange translation effects $ (4.2 ) Total streamlining liability as of June 30, 2015 $ 32.1 A balance of $ 11.8 million is included in other liabilities (non-current) and $ 20.3 million is included in other accrued liabilities (current) as of June 30, 2015 . The following is a summary of current and cumulative streamlining costs: Charges for three months Charges for six months Cumulative Charges (Amounts in millions) 2008/2009 Program Other Programs 2008/2009 Program Other Programs 2008/2009 Program Other Programs Employee-related charges – cost of sales $ — $ 0.9 $ — $ 2.9 $ 45.7 $ 29.4 Employee-related charges – selling and administrative — 6.0 — 6.2 45.8 42.3 Asset write-offs — — — — — 2.9 Other streamlining charges — 0.3 — 0.3 — 0.3 Total program costs $ — $ 7.2 $ — $ 9.4 $ 91.5 $ 74.9

Post-retirement Benefits

Post-retirement Benefits	6 Months Ended
	Jun. 30, 2015
General Discussion of Pension and Other Postretirement Benefits [Abstract]
Post-retirement Benefits	Post-retirement Benefits Post-retirement pension, health and life insurance costs had the following components for the three and six month periods ended June 30, 2015 and 2014 : Three Months Six Months 2015 2014 2015 2014 (Amounts in millions) Pension Benefits Health & Life Ins. Benefits Pension Benefits Health & Life Ins. Benefits Pension Benefits Health & Life Ins. Benefits Pension Benefits Health & Life Ins. Benefits Service cost-benefits earned during period $ 4.3 $ 0.1 $ 3.4 $ 0.1 $ 8.9 $ 0.1 $ 6.7 $ 0.1 Interest cost on the projected benefit obligation 4.4 0.1 5.3 0.1 8.8 0.2 10.6 0.2 Less: assumed return on plan assets (1.9 ) — (2.1 ) — (3.9 ) — (4.1 ) — Amortization of net loss 3.3 0.1 1.4 0.1 6.6 0.2 2.7 0.2 Defined benefit plan cost $ 10.1 $ 0.3 $ 8.0 $ 0.3 $ 20.4 $ 0.5 $ 15.9 $ 0.5 The Company makes contributions to funded pension plans that, at a minimum, meet all statutory funding requirements. Contributions in 2015 , as well as payments of benefits incurred by unfunded plans were in line with the expectations for 2015 and also in line with the contributions made during 2014 . Defined benefit plan cost is included in selling and administrative expenses and cost of sales on the condensed consolidated statements of operations.

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedges, Assets [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities ASC 815, Derivatives and Hedging , requires a company to recognize all of its derivative instruments as either assets or liabilities on the balance sheet at fair value. The accounting for changes in the fair value of a derivative instrument depends on whether it qualifies and has been designated as a relationship hedge. For those derivative instruments that are designated and qualify as hedging instruments, a company must designate the hedging instrument, based upon the exposure being hedged, as a fair value hedge, cash flow hedge, or a hedge of a net investment in a foreign operation. The Company recognizes all derivative financial instruments on the condensed consolidated balance sheet at fair value using Level 2 inputs and these are classified as “other current assets,” “other assets,” “other accrued liabilities” or “other liabilities” on the condensed consolidated balance sheet. Level 2 inputs used by the Company in valuing its derivative instruments include model-based valuation techniques for which all significant assumptions are observable in the market. The earnings impact resulting from changes in the fair value of derivative instruments is recorded in the same line item in the condensed consolidated statement of operations as the underlying exposure being hedged or in accumulated other comprehensive income for derivatives that qualify and have been designated as cash flow hedges or hedges of a net investment in a foreign operation. Any ineffective portion of a financial instrument's change in fair value is recognized in earnings together with changes in the fair value of any derivatives not designated as relationship hedges. During the first quarter of 2015 , the Company entered into and settled treasury rate lock agreements which were designated as cash flow hedges in anticipation of issuing the Senior Notes as discussed in Note 8. A loss related to these cash flow hedges of $1.3 million , net of taxes of $0.7 million , has been recognized in other comprehensive income for the six months ended June 30, 2015 . The related amount of hedge ineffectiveness was immaterial. The amount of unrealized loss reclassified to earnings for the six months ended June 30, 2015 was also immaterial. Foreign exchange contracts are also used by the Company to offset the earnings impact relating to the variability in exchange rates on certain assets and liabilities denominated in non-functional currencies and have not been designated as relationship hedges. As of June 30, 2015 , forward contracts for an aggregate notional amount of € 82.4 million ($ 92.6 million at June 30, 2015 exchange rates) were outstanding with an average duration of one month. These foreign exchange contracts have offset the revaluation of assets and liabilities. The combined net non-operating loss for the six months ended June 30, 2015 was $ 0.2 million . The majority of these exchange contracts were entered into on June 29, 2015 . The fair value of the derivatives was $0.3 million at June 30, 2015 .

Business combinations (Notes)

Business combinations (Notes)	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Business Combinations	Business Combinations On February 12, 2014, WABCO Europe BVBA (WABCO Europe), a Belgian subsidiary of the Company, entered into a stock purchase agreement (the Agreement) to purchase all of the outstanding shares of Tavares NV (Tavares), a limited liability company incorporated under the laws of Belgium, for a cash purchase price of €111.1 million ( $151.0 million based on exchange rates on the acquisition date). This included the acquisition of €15.3 million of net cash held by its subsidiary Transics International NV (Transics), resulting in net consideration of €95.8 million ( $130.2 million based on exchange rates on the acquisition date). At the date of acquisition, Tavares held 96.84% of the outstanding shares of Transics, a limited liability company incorporated under the laws of Belgium listed on NYSE Euronext Brussels. Transics develops and markets fleet management solutions to help commercial vehicle manufacturers and fleet operators to more efficiently and safely manage their trucks and trailers. The suite of innovative solutions offered by Transics helps to improve fuel efficiency and productivity while lowering operating costs. The allocation of the total purchase price to the assets and liabilities assumed as of the acquisition date was finalized as of December 31, 2014 and is summarized as follows: (Amounts in millions) Cash and cash equivalents $ 25.3 Trade receivables 15.6 Trade payables (5.4 ) Debt (4.5 ) Deferred tax liabilities (13.9 ) Property, plant and equipment 3.5 Intangible assets 51.1 Other assets purchased and liabilities assumed, net (6.6 ) Identifiable net assets acquired $ 65.1 Goodwill 91.6 Noncontrolling interest (5.7 ) Total purchase price allocation $ 151.0 The intangible assets include amounts recognized for the fair value of trade name and customer-based and technology-related assets. The fair values of the intangible assets and noncontrolling interest were determined based on an income and cost approach. The intangible assets are being amortized over a weighted-average useful life of approximately 6 years, the majority of which is not deductible for tax purposes. The goodwill generated is primarily attributable to expected synergies and is not deductible for tax purposes. The transaction-related costs were expensed as incurred and are recorded within other non-operating expense. On April 10, 2014, in connection with the acquisition of Tavares, WABCO Europe launched a mandatory public takeover bid on all remaining shares and warrants issued by Transics in accordance with applicable Belgian takeover rules. Immediately following the initial acceptance period of the public bid, WABCO Europe launched a squeeze-out procedure that closed on May 16, 2014 for an additional payment of €4.2 million ( $5.7 million based on exchange rates on the acquisition date), resulting in WABCO Europe directly and indirectly owning all shares and warrants in Transics for a total net consideration of €99.9 million ( $135.9 million based on exchange rates on the acquisition date). The pro forma effects of this acquisition would not materially impact the Company's reported results for any period presented and as a result, no pro forma financial statements have been presented.

Comprehensive Income (Tables)

Comprehensive Income (Tables)	6 Months Ended
	Jun. 30, 2015
Statement of Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The table below presents the changes in accumulated other comprehensive loss for the three and six month periods ended June 30, 2015 and 2014 . Three Months Six Months (Amount in millions) 2015 2014 2015 2014 Foreign currency translation adjustments: Balance at beginning of period (248.0 ) (7.1 ) (148.1 ) (5.5 ) Adjustment for the period 30.3 (3.4 ) (69.6 ) (5.0 ) Balance at end of period (217.7 ) (10.5 ) (217.7 ) (10.5 ) Losses on intra-entity transactions (1) : Balance at beginning of period (11.1 ) (8.8 ) (9.9 ) (8.9 ) Adjustment for the period — 0.6 (1.2 ) 0.7 Balance at end of period (11.1 ) (8.2 ) (11.1 ) (8.2 ) Unrealized gains on investments: Balance at beginning of period 0.2 0.1 0.2 — Adjustment for the period — 0.1 — 0.2 Amounts reclassified to earnings, net — — — — Balance at end of period 0.2 0.2 0.2 0.2 Unrealized losses on hedges: Balance at beginning of period (1.3 ) — — — Adjustment for the period (2) — — (1.3 ) — Amounts reclassified to earnings, net — — — — Balance at end of period (1.3 ) — (1.3 ) — Pension and post-retirement plans: Balance at beginning of period (220.3 ) (108.0 ) (244.9 ) (109.0 ) Other comprehensive income before reclassifications (9.1 ) (0.3 ) 13.1 (0.3 ) Amounts reclassified to earnings, net (3) 2.6 1.0 5.0 2.0 Balance at end of period $ (226.8 ) $ (107.3 ) $ (226.8 ) $ (107.3 ) Accumulated other comprehensive loss at end of period $ (456.7 ) $ (125.8 ) $ (456.7 ) $ (125.8 ) (1) Relates to intra-entity foreign currency transactions that are of a long term investment nature, when the entities to the transaction are consolidated, combined or accounted for by the equity method in the Company's financial statements. (2) The adjustment for the period is net of taxes of $0.7 million for the six months ended June 30, 2015 . See Note 14 for further discussion. (3) This accumulated other comprehensive income component, net of taxes of $1.0 million and $0.4 million for the three months ended June 30, 2015 and 2014 and $2.0 million and $0.8 million for the six months ended June 30, 2015 and 2014 , is included in the computation of net periodic pension cost. See Note 13 for additional details.

Net Income Attributable to Co23

Net Income Attributable to Company per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Three Months Six Months 2015 2014 2015 2014 Weighted average incremental shares included 429,964 631,304 503,690 679,593 Shares excluded due to anti-dilutive effect — — 190 1,344

Capital Stock (Tables)

Capital Stock (Tables)	6 Months Ended
	Jun. 30, 2015
Stockholders' Equity Note [Abstract]
Schedule of Net Shares Outstanding and Shares Issued or Reacquired	The following is a summary of net shares outstanding and shares issued or reacquired during the six month period ended June 30, 2015 . Number of Shares of Common Stock Total Shares Treasury Shares Net Shares Outstanding Balance, December 31, 2014 77,961,040 (19,535,167 ) 58,425,873 Shares issued upon exercise of stock options 377,792 — 377,792 Shares issued upon vesting of RSUs 116,019 — 116,019 Shares issued for DSUs 4,175 — 4,175 Shares purchased for treasury — (1,075,465 ) (1,075,465 ) Balance, June 30, 2015 78,459,026 (20,610,632 ) 57,848,394

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Share-based Compensation [Abstract]
Total Stock-Based Compensation Cost Recognized During Period	Total stock-based compensation cost recognized during the three and six month periods ended June 30, 2015 and 2014 was as follows: Three Months Six Months (Amount in millions) 2015 2014 2015 2014 Stock-based compensation $ 3.3 $ 4.2 $ 7.0 $ 7.6
Total Number and Type of Awards Granted and Related Weighted-Average Grant Date Fair Values	The total number and type of awards granted during the periods presented and the related weighted-average grant-date fair values were as follows: Six Months Six Months Underlying Shares Weighted Average Grant Date Fair Value Underlying Shares Weighted Average Grant Date Fair Value RSUs Granted 65,394 $ 116.51 78,342 $ 99.76 PSUs Granted 58,630 $ 116.38 65,508 $ 103.41 DSUs Granted 5,512 $ 130.73 6,680 $ 107.88 Stock Awards Granted — $ — 800 $ 96.37 Total Awards 129,536 151,330
Schedule of Weighted Average Grant Date Fair Value Calculated Under The Black-Scholes Option-Pricing Model

Warranties, Guarantees, Commi26

Warranties, Guarantees, Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2015
Warranties, Guarantees, Commitments and Contingencies [Abstract]
Summary of Changes in the Company's Product Warranty Liability	The following is a summary of changes in the Company’s product warranty liability for the three and six month periods ended June 30, 2015 and 2014 . Three Months Six Months (Amount in millions) 2015 2014 2015 2014 Balance of warranty costs accrued, beginning of period $ 41.0 $ 52.2 $ 45.2 $ 51.6 Warranty costs accrued 6.5 7.3 11.6 14.6 Warranty claims settled (5.7 ) (7.0 ) (10.9 ) (13.5 ) Foreign exchange translation effects 1.1 (0.3 ) (3.0 ) (0.5 ) Balance of warranty costs accrued, end of period $ 42.9 $ 52.2 $ 42.9 $ 52.2 Current liability, included in current portion of warranties $ 24.8 $ 30.4 $ 24.8 $ 30.4 Long-term liability, included in other liabilities $ 18.1 $ 21.8 $ 18.1 $ 21.8 Warranty costs net of recoveries $ 6.5 $ 5.1 $ 11.6 $ 12.4

Streamlining Expenses (Tables)

Streamlining Expenses (Tables)	6 Months Ended
	Jun. 30, 2015
Restructuring Charges [Abstract]
Schedule of Streamlining Liabilities	The following is a summary of changes in the Company’s streamlining program liabilities for the six month period ended June 30, 2015 . Activity for the period consisted primarily of termination payments and employee-related charges. (Amounts in millions) 2008 / 2009 Program Balance as of December 31, 2014 $ 3.3 Charges during the first six months of 2015 — Payments during the first six months of 2015 (3.3 ) Balance as of June 30, 2015 $ — Other Programs Balance as of December 31, 2014 $ 30.6 Charges during the first six months of 2015 9.4 Payments during the first six months of 2015 (3.7 ) Balance as of June 30, 2015 $ 36.3 Foreign exchange translation effects $ (4.2 ) Total streamlining liability as of June 30, 2015 $ 32.1
Schedule of Streamlining Cost	The following is a summary of current and cumulative streamlining costs: Charges for three months Charges for six months Cumulative Charges (Amounts in millions) 2008/2009 Program Other Programs 2008/2009 Program Other Programs 2008/2009 Program Other Programs Employee-related charges – cost of sales $ — $ 0.9 $ — $ 2.9 $ 45.7 $ 29.4 Employee-related charges – selling and administrative — 6.0 — 6.2 45.8 42.3 Asset write-offs — — — — — 2.9 Other streamlining charges — 0.3 — 0.3 — 0.3 Total program costs $ — $ 7.2 $ — $ 9.4 $ 91.5 $ 74.9

Post-retirement Benefits (Table

Post-retirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2015
General Discussion of Pension and Other Postretirement Benefits [Abstract]
Components of Post-retirement Pension, Health and Life Insurance Costs	Post-retirement pension, health and life insurance costs had the following components for the three and six month periods ended June 30, 2015 and 2014 : Three Months Six Months 2015 2014 2015 2014 (Amounts in millions) Pension Benefits Health & Life Ins. Benefits Pension Benefits Health & Life Ins. Benefits Pension Benefits Health & Life Ins. Benefits Pension Benefits Health & Life Ins. Benefits Service cost-benefits earned during period $ 4.3 $ 0.1 $ 3.4 $ 0.1 $ 8.9 $ 0.1 $ 6.7 $ 0.1 Interest cost on the projected benefit obligation 4.4 0.1 5.3 0.1 8.8 0.2 10.6 0.2 Less: assumed return on plan assets (1.9 ) — (2.1 ) — (3.9 ) — (4.1 ) — Amortization of net loss 3.3 0.1 1.4 0.1 6.6 0.2 2.7 0.2 Defined benefit plan cost $ 10.1 $ 0.3 $ 8.0 $ 0.3 $ 20.4 $ 0.5 $ 15.9 $ 0.5

Business combinations Purchase

Business combinations Purchase price allocation (Tables)	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	(Amounts in millions) Cash and cash equivalents $ 25.3 Trade receivables 15.6 Trade payables (5.4 ) Debt (4.5 ) Deferred tax liabilities (13.9 ) Property, plant and equipment 3.5 Intangible assets 51.1 Other assets purchased and liabilities assumed, net (6.6 ) Identifiable net assets acquired $ 65.1 Goodwill 91.6 Noncontrolling interest (5.7 ) Total purchase price allocation $ 151.0

Comprehensive Income (Details)

Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Statement of Comprehensive Income [Abstract]
Net income	$ 68.3	$ 77.9	$ 143.1	$ 149.8
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	29.3	(2.8)	(71.3)	(3)
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	(6.5)	0.7	18.1	1.7
Less: Net income attributable to noncontrolling interests	$ 2.5	$ 2.9	$ 5.4	$ 5.4

Comprehensive Income (Accumulat

Comprehensive Income (Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Schedule of Accumulated Other Comprehensive Income (Loss) [Line Items]
Document Period End Date			Jun. 30, 2015
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance as of Dec 31, 2012			$ (402.7)
Ending Balance as of September 30, 2013	$ (456.7)	$ (125.8)	(456.7)	$ (125.8)
Foreign Currency Translation [Member]
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance as of Dec 31, 2012	(248)	(7.1)	(148.1)	(5.5)
Other comprehensive income before reclassifications	30.3	(3.4)	(69.6)	(5)
Ending Balance as of September 30, 2013	(217.7)	(10.5)	(217.7)	(10.5)
Losses on Intra-entity transactions [Member]
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance as of Dec 31, 2012	(11.1)	(8.8)	(9.9)	(8.9)
Other comprehensive income before reclassifications	0	0.6	(1.2)	0.7
Ending Balance as of September 30, 2013	(11.1)	(8.2)	(11.1)	(8.2)
Accumulated Net Unrealized Investment Gain (Loss) [Member]
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance as of Dec 31, 2012	0.2	0.1	0.2	0
Other comprehensive income before reclassifications	0	0.1	0	0.2
Amounts reclassified from accumulated other comprehensive income	0	0	0	0
Ending Balance as of September 30, 2013	0.2	0.2	0.2	0.2
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance as of Dec 31, 2012	(1.3)	0
Other comprehensive income before reclassifications	0	0		0
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax			(1.3)
Amounts reclassified from accumulated other comprehensive income	0	0	0	0
Ending Balance as of September 30, 2013	(1.3)	0	(1.3)	0
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax			0.7
Unrealized Losses on Defined Benefit Plans, net of tax [Member]
Increase (Decrease) in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
Beginning balance as of Dec 31, 2012	(220.3)	(108)	(244.9)	(109)
Other comprehensive income before reclassifications	(9.1)	(0.3)	13.1	(0.3)
Amounts reclassified from accumulated other comprehensive income	2.6	1	5	2
Ending Balance as of September 30, 2013	(226.8)	(107.3)	(226.8)	(107.3)
Amounts reclassified from accumulated other comprehensive income, tax	$ 1	$ 0.4	$ 2	$ 0.8

Accounts Receivable Securitiz32

Accounts Receivable Securitization Program & Financing Receivables (Details) € in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2014EUR (€)	Dec. 31, 2014USD ($)
Accounts Receivable Financing Facility [Abstract]
Receivables sold under securitization program		$ 499.3	€ 367.2
Servicing fees		0.5
Notes receivable contractual maturity maximum	6 months
Notes receivable discounted or transferred	$ 45.7	30.4
Expense from discount/transfer of notes receivable	0.2	$ 0
Notes receivable	$ 54.6			$ 59.4

Net Income Attributable to Co33

Net Income Attributable to Company per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earnings Per Share [Abstract]
Weighted average incremental shares included	429,964	631,304	503,690	679,593
Shares excluded due to anti-dilutive effect	0	0	190	1,344

Capital Stock (Schedule of Net

Capital Stock (Schedule of Net Shares Outstanding and Shares Issued or Reacquired) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 05, 2014	Oct. 29, 2013	Oct. 26, 2012	May. 26, 2011
Class of Stock [Line Items]
Document Period End Date	Jun. 30, 2015
Stock Repurchase Program, Authorized Amount		$ 500	$ 200	$ 400	$ 400
Common Stock, Shares Outstanding [Roll Forward]
Total Shares, beginning balance	77,961,040
Treasury Shares, beginning balance	(19,535,167)
Net Shares Outstanding, beginning balance	58,425,873
Shares issued upon exercise of stock options	377,792
Shares issued upon vesting of RSUs	116,019
Stock Issued During Period, Shares, Deferred Stock Award	4,175
Shares purchased for treasury	(1,075,465)
Total Shares, ending balance	78,459,026
Treasury Shares, ending balance	(20,610,632)
Net Shares Outstanding, ending balance	57,848,394

Capital Stock (Narrative) (Deta

Capital Stock (Narrative) (Details) $ in Millions	1 Months Ended	6 Months Ended
	Jul. 24, 2015USD ($)shares	Jun. 30, 2015USD ($)repurchase_programshares
Class of Stock [Line Items]
Stock Repurchase Program, Number of repurchase programs | repurchase_program		4
Repurchases of treasury stock		$ 1,096.1
Unexpended amount of share repurchase authorized		$ 375.7
Shares purchased for treasury | shares		1,075,465
Subsequent Share Repurchase [Member]
Class of Stock [Line Items]
Repurchases of treasury stock	$ 13
Shares purchased for treasury | shares	106,000

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants during period	65,394	78,342
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants during period	58,630	65,508
Cumulative earnings achievement period	3 years	3 years
Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants during period	0	800
Vest Ratably over Three Years [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants during period	62,055	74,756
Vesting period, years	3 years	3 years
Vest After Two Years [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants during period	652	0
Vesting period, years	2 years	2 years
Vest After Three Years [Member] | Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants during period	2,687	3,586
Vesting period, years	3 years	3 years

Stock-Based Compensation (Total

Stock-Based Compensation (Total Stock-Based Compensation Cost and Total Number and Type of Awards Granted and Related-Weighted Average Grant-Date Fair Values) (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation (in usd)	$ 7	$ 7.6
Total Awards, Underlying Shares	129,536	151,330
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs Granted, Underlying Shares	65,394	78,342
RSUs Granted, Weighted Average Grant Date Fair Value	$ 116.51	$ 99.76
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs Granted, Underlying Shares	58,630	65,508
RSUs Granted, Weighted Average Grant Date Fair Value	$ 116.38	$ 103.41
Deferred Stock Units [Domain]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs Granted, Underlying Shares	5,512	6,680
RSUs Granted, Weighted Average Grant Date Fair Value	$ 130.73	$ 107.88
Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs Granted, Underlying Shares	0	800
RSUs Granted, Weighted Average Grant Date Fair Value	$ 0	$ 96.37

Debt (Narrative) (Details)

Debt (Narrative) (Details) - USD ($)	Jul. 08, 2011	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Jun. 25, 2015	Dec. 17, 2014
Debt Instrument [Line Items]
Debt Instrument, Issuance Date		Jun. 25, 2015
Debt Issuance Cost		$ 2,100,000
Document Period End Date		Jun. 30, 2015
Balance outstanding		$ 0		$ 306,000,000
Maximum secured indebtedness of subsidiaries		150,000,000
Incremental ability to borrow		499,300,000		193,100,000
Letters of Credit [Member]
Debt Instrument [Line Items]
Balance outstanding		700,000		900,000
Subsidiaries [Member]
Debt Instrument [Line Items]
Borrowings from banks		$ 3,900,000		9,200,000
Series A Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount					$ 150,000,000
Debt Instrument, Interest Rate, Stated Percentage					2.83%
Debt Instrument, Maturity Date			Jun. 25, 2022
Series B Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount					$ 200,000,000
Debt Instrument, Interest Rate, Stated Percentage					3.08%
Debt Instrument, Maturity Date			Jun. 25, 2025
Series C Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount					$ 150,000,000
Debt Instrument, Interest Rate, Stated Percentage					3.18%
Debt Instrument, Maturity Date			Jun. 25, 2027
Credit Facility Expiring in 2018 [Member]
Debt Instrument [Line Items]
Credit facility initiation date		Jul. 8, 2011
Multi-currency revolving credit facility	$ 400,000,000	$ 400,000,000
Term Of Credit Facility	5 years
Credit facility expiration date		Sep. 1, 2018
Balance outstanding		$ 0		206,000,000
Credit Facility Expiring in 2018 [Member] | Letters of Credit [Member]
Debt Instrument [Line Items]
Multi-currency revolving credit facility		50,000,000
Unused letters of credit		49,300,000
Balance outstanding		700,000		$ 900,000
Credit Facility Expiring in 2018 [Member] | Swingline Loans [Member]
Debt Instrument [Line Items]
Multi-currency revolving credit facility		$ 50,000,000
Credit Facility Expiring in 2019 [Member]
Debt Instrument [Line Items]
Credit facility initiation date		Dec. 17, 2014
Multi-currency revolving credit facility		$ 500,000,000				$ 100,000,000
Term Of Credit Facility				5 years
Credit facility expiration date		Dec. 17, 2019
Balance outstanding		$ 0		$ 100,000,000
Credit Facility Expiring in 2019 [Member] | Letters of Credit [Member]
Debt Instrument [Line Items]
Balance outstanding		0		0
Credit Facility Expiring in 2016 [Member]
Debt Instrument [Line Items]
Multi-currency revolving credit facility		500,000,000
Long-term Debt [Member] | Subsidiaries [Member]
Debt Instrument [Line Items]
Borrowings from banks		900,000		$ 1,100,000
Local Working Capital Requirements [Member] | Subsidiaries [Member]
Debt Instrument [Line Items]
Borrowings from banks		$ 3,000,000
Minimum [Member] | Credit Facility Expiring in 2018 [Member]
Debt Instrument [Line Items]
Interest rate, minimum		0.80%
Minimum [Member] | Credit Facility Expiring in 2019 [Member]
Debt Instrument [Line Items]
Interest rate, minimum		0.45%
Maximum [Member] | Credit Facility Expiring in 2018 [Member]
Debt Instrument [Line Items]
Interest rate, minimum		1.55%
Maximum [Member] | Credit Facility Expiring in 2019 [Member]
Debt Instrument [Line Items]
Interest rate, minimum		1.00%

Warranties, Guarantees, Commi39

Warranties, Guarantees, Commitments and Contingencies (Narrative) (Details) - Jun. 30, 2015 - USD ($) $ in Millions	Total
Guarantor Obligations [Line Items]
Document Period End Date	Jun. 30, 2015
Standard warranty period	2 years
Bank guarantees	$ 48.7
Notes Receivable Transferred Not Matured	15.2
Tax Litigation Claims [Member]
Guarantor Obligations [Line Items]
Uncollateralized bank guarantees	43.1
Letters of Credit [Member]
Guarantor Obligations [Line Items]
Uncollateralized bank guarantees	0.7
Performance Guarantee [Member]
Guarantor Obligations [Line Items]
Uncollateralized bank guarantees	0.7
Other Items [Member]
Guarantor Obligations [Line Items]
Uncollateralized bank guarantees	$ 4.2

Warranties, Guarantees, Commi40

Warranties, Guarantees, Commitments and Contingencies (Summary of Changes in the Company's Product Warranty Liability) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance of warranty costs accrued, beginning of period	$ 41	$ 52.2	$ 45.2	$ 51.6
Warranty costs accrued	6.5	7.3	11.6	14.6
Warranty claims settled	(5.7)	(7)	(10.9)	(13.5)
Foreign exchange translation effects	1.1	(0.3)	(3)	(0.5)
Balance of warranty costs accrued, end of period	42.9	52.2	42.9	52.2
Current liability, included in current portion of warranties	24.8	30.4	24.8	30.4	$ 25.8
Long-term liability, included in other liabilities	18.1	21.8	18.1	21.8
Product Warranty Expense	$ 6.5	$ 5.1	$ 11.6	$ 12.4

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Contingency [Line Items]
Income tax expense (benefit)	$ 18.5	$ 17.9	$ 37	$ 33.7
Pretax Income	86.8	$ 95.8	180.1	$ 183.5
Tax Adjustments, Settlements, and Unusual Provisions			$ 1.6
Document Period End Date			Jun. 30, 2015
Unrecognized tax benefits	$ 47.5		$ 47.5

Tax and Indemnification Liabi42

Tax and Indemnification Liabilities Transferred from Trane to WABCO (Details) - Jun. 30, 2015 - USD ($) $ in Millions	Total
Tax and Indemnification Liabilities [Line Items]
Document Period End Date	Jun. 30, 2015
Estimated total amount of the contingency	$ 32.8
Other Current Liabilities [Member]
Tax and Indemnification Liabilities [Line Items]
Tax indemnification liability to former affiliate	1.1
Other Noncurrent Liabilities [Member]
Tax and Indemnification Liabilities [Line Items]
Tax indemnification liability to former affiliate	0.7
Total balance [Member]
Tax and Indemnification Liabilities [Line Items]
Tax indemnification liability to former affiliate	$ 1.8

Streamlining Expenses (Narrativ

Streamlining Expenses (Narrative) (Details) - Jun. 30, 2015 $ in Millions	USD ($)employees
Restructuring Cost and Reserve [Line Items]
Approximate global workforce reduction due to streamlining | employees	1,800
Other Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Streamlining liabilities	$ 11.8
Streamlining Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Streamlining liabilities	$ 20.3

Streamlining Expenses (Schedule

Streamlining Expenses (Schedule of Streamlining Liabilities) (Details) - Jun. 30, 2015 - USD ($) $ in Millions	Total
Restructuring Reserve [Roll Forward]
Foreign exchange translation effects	$ (4.2)
Total streamlining liability as of June 30, 2015	32.1
2008 / 2009 Program [Member]
Restructuring Reserve [Roll Forward]
Beginning balance	3.3
Charges during the first six months of 2015	0
Payments during the first six months of 2015	(3.3)
Ending balance	0
Other Programs [Member]
Restructuring Reserve [Roll Forward]
Beginning balance	30.6
Charges during the first six months of 2015	9.4
Payments during the first six months of 2015	(3.7)
Ending balance	$ 36.3

Streamlining Expenses (Schedu45

Streamlining Expenses (Schedule of Current and Cumulative Streamlining Costs) (Details) - Jun. 30, 2015 - USD ($) $ in Millions	Total	Total	Total
2008 / 2009 Program [Member]
Restructuring Cost and Reserve [Line Items]
Employee related charges - cost of sales	$ 0	$ 0	$ 45.7
Employee related charges - selling and administrative	0	0	45.8
Asset write-offs	0	0	0
Other Restructuring Costs	0	0	0
Total program costs	0	0	91.5
Other Programs [Member]
Restructuring Cost and Reserve [Line Items]
Employee related charges - cost of sales	0.9	2.9	29.4
Employee related charges - selling and administrative	6	6.2	42.3
Asset write-offs	0	0	2.9
Other Restructuring Costs	0.3	0.3	0.3
Total program costs	$ 7.2	$ 9.4	$ 74.9

Post-retirement Benefits (Compo

Post-retirement Benefits (Components of Post-retirement Pension, Health and Life Insurance Costs) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Pension Benefits [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Service cost-benefits earned during period	$ 4.3	$ 3.4	$ 8.9	$ 6.7
Interest cost on the projected benefit obligation	4.4	5.3	8.8	10.6
Less assumed return on plan assets	(1.9)	(2.1)	(3.9)	(4.1)
Amortization of net loss	3.3	1.4	6.6	2.7
Defined benefit plan cost	10.1	8	20.4	15.9
Health and Life Insurance Benefits [Member]
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Service cost-benefits earned during period	0.1	0.1	0.1	0.1
Interest cost on the projected benefit obligation	0.1	0.1	0.2	0.2
Less assumed return on plan assets	0	0	0	0
Amortization of net loss	0.1	0.1	0.2	0.2
Defined benefit plan cost	$ 0.3	$ 0.3	$ 0.5	$ 0.5

Derivative Instruments and He47

Derivative Instruments and Hedging Activities (Narrative) (Details) - Jun. 30, 2015 € in Millions, $ in Millions	USD ($)	EUR (€)
Derivative Instruments and Hedges, Assets [Abstract]
Document Period End Date	Jun. 30, 2015
Notional amount of derivatives	$ 92.6	€ 82.4
Average duration of derivatives, months	1 month
Derivative instruments, recognized gains / (losses)	$ (0.2)
Fair value of derivatives	$ (0.3)

Business combinations (Details)

Business combinations (Details) € in Millions, $ in Millions	May. 16, 2014USD ($)	May. 16, 2014EUR (€)	Feb. 12, 2014USD ($)	Feb. 12, 2014EUR (€)
Business Combinations [Abstract]
Other Payments to Acquire Businesses	$ 5.7	€ 4.2
Business Combination, Contractual Purchase Price			$ 151	€ 111.1
Cash Acquired from Acquisition				15.3
Payments to Acquire Businesses, Net of Cash Acquired	$ 135.9	€ 99.9	$ 130.2	€ 95.8
Business Acquisition, Percentage of Voting Interests Acquired			96.84%	96.84%

Business combinations Schedule

Business combinations Schedule of Recognized Identified Assets (Details) - Tavares [Member] - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Feb. 12, 2014
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life	6 years
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents		$ 25.3
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Receivables		15.6
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities, Accounts Payable		(5.4)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Financial Liabilities		(4.5)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent		(13.9)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment		3.5
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		51.1
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other		(6.6)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net		65.1
Business Combination, Goodwill		91.6
Business Combination, Acquisition of Less than 100 Percent, Noncontrolling Interest, Fair Value		(5.7)
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Less Noncontrolling Interest		$ 151

Noncontrolling Interests (Detai

Noncontrolling Interests (Details) - May. 16, 2014 € in Millions, $ in Millions	USD ($)	EUR (€)
Noncontrolling Interest [Abstract]
Other Payments to Acquire Businesses	$ 5.7	€ 4.2