Fortune Brands Innovations (FBIN) 10-Q 27 Oct 22 2022 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2022	Oct. 14, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Registrant Name	FORTUNE BRANDS HOME & SECURITY, INC.
Entity Central Index Key	0001519751
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Trading Symbol	FBHS
Entity Common Stock, Shares Outstanding		128,242,529
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	1-35166
Entity Tax Identification Number	62-1411546
Entity Address, Address Line One	520 Lake Cook Road
Entity Address, City or Town	Deerfield
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60015-5611
City Area Code	847
Local Phone Number	484-4400
Title of 12(b) Security	Common Stock
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net sales	$ 2,053.7	$ 1,986.3	$ 6,082	$ 5,693.4
Cost of products sold	1,310.2	1,280	3,895.9	3,637.2
Selling, general and administrative expenses	415.3	400.2	1,259.4	1,166.3
Amortization of intangible assets	16.8	15.9	48.9	48.5
Asset impairment charges	0	0	26	0
Restructuring charges	30.2	3.6	33.1	11.5
Operating income	281.2	286.6	818.7	829.9
Interest expense	33.1	20.6	85.4	63.2
Other (income) expense , net	(2.1)	(1.3)	(3.6)	0.7
Income before taxes	250.2	267.3	736.9	766
Income tax	46	65.2	159.8	168.9
Net income	$ 204.2	$ 202.1	$ 577.1	$ 597.1
Basic earnings per common share	$ 1.58	$ 1.47	$ 4.40	$ 4.32
Diluted earnings per common share	$ 1.57	$ 1.45	$ 4.37	$ 4.26
Comprehensive income	$ 174.2	$ 186.7	$ 599.5	$ 598.4

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents		$ 345.3	$ 471.5
Accounts receivable less allowances for discounts and credit losses		936.1	885.7
Inventories		1,502.3	1,193.8
Other current assets		223.9	193.5
Total current assets		3,007.6	2,744.5
Property, plant and equipment, net of accumulated depreciation		1,097.7	1,009.5
Operating lease assets		177	191.7
Goodwill	[1]	2,546.2	2,465.1
Other intangible assets, net of accumulated amortization		1,375.9	1,383.8
Other assets		211.2	141.6
Total assets		8,415.6	7,936.2
Current liabilities
Short-term debt		600.3	400
Accounts payable		672.6	764.9
Other current liabilities		775	806.2
Total current liabilities		2,047.9	1,971.1
Long-term debt		2,786.9	2,309.8
Deferred income taxes		222.7	176
Accrued defined benefit plans		62.3	79.7
Operating lease liabilities		142.4	158.8
Other non-current liabilities		123.3	176
Total liabilities		5,385.5	4,871.4
Commitments and contingencies (see Note 17)
Stockholders' equity
Common stock	[2]	1.9	1.9
Paid-in capital		3,058.9	3,018.3
Accumulated other comprehensive loss		(2.2)	(24.6)
Retained earnings		3,277	2,807.9
Treasury stock		(3,305.5)	(2,738.7)
Total stockholders' equity		3,030.1	3,064.8
Total liabilities and equity		$ 8,415.6	$ 7,936.2
[1] Net of accumulated impairment losses of $ 399.5 million in the Outdoors & Security segment. Common stock, par value $ 0.01 per share; 186.1 million shares and 185.3 million shares issued at September 30, 2022 and December 31, 2021 , respectively.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	186,100,000	185,300,000

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021
Operating activities
Net income		$ 577.1	$ 597.1
Non-cash adjustments:
Depreciation		93.5	92.9
Amortization of intangibles		48.9	48.5
Non-cash lease expense		33.8	31.8
Stock-based compensation		40	36
Recognition of actuarial losses		0.4	1.1
Deferred taxes		34.9	9.6
Restructuring charges		7.5	0
Asset impairment charges		26	0
Amortization of deferred financing fees		2.8	2.8
Loss on equity investments		0	2.9
(Gain) loss on sale of property, plant and equipment		(5.6)	1.5
Changes in assets and liabilities:
Increase in accounts receivable		(51)	(186.2)
Increase in inventories		(302.7)	(258)
(Decrease) increase in accounts payable		(79.3)	116.5
Decrease (increase) in other assets		6.2	(0.6)
Decrease in accrued expenses and other liabilities		(117.6)	(65)
Decrease in accrued taxes		(26.1)	(0.1)
Net cash provided by operating activities		288.8	430.8
Investing activities
Capital expenditures	[1]	(175.1)	(113)
Proceeds from the disposition of assets		8.1	1.7
Cost of acquisitions, net of cash acquired		(214)	5.2
Net cash used in investing activities		(381)	(106.1)
Financing activities
Issuance of short-term debt		701.4	0
Repayment of short-term debt		(1,100)	0
Issuance of long-term debt		4,973.9	825
Repayment of long-term debt		(3,895.9)	(770)
Proceeds from the exercise of stock options		0.6	32.6
Treasury stock purchases	[2]	(531.1)	(252.9)
Employee withholding taxes related to stock-based compensation		(25.7)	(10.5)
Dividends to stockholders		(109.8)	(107.9)
Other financing, net		(22.3)	(1.4)
Net cash used in financing activities		(8.9)	(285.1)
Effect of foreign exchange rate changes on cash		(26)	1
Net (decrease) increase in cash and cash equivalents		(127.1)	40.6
Cash, cash equivalents and restricted cash at beginning of period	[3]	476.1	425
Cash, cash equivalents and restricted cash at end of period	[3]	$ 349	$ 465.6
[1] Capital expenditures of $ 11.7 million and $ 12.6 million that had not been paid as of September 30, 2022 and 2021 , respectively, were excluded from the Statement of Cash Flows. Treasury stock purchased for the nine months ended September 30, 2022 and September 30, 2021 excludes $ 10.0 million and $ 17.2 million, respectively, related to purchases that were not settled until after September 30, 2022 and September 30, 2021, respectively. Restricted cash of $ 1.4 million and $ 2.3 million is included in Other current assets and Other assets, respectively, as of September 30, 2022 and restricted cash of $ 1.2 million and $ 3.7 million is included in Other current assets and Other assets, respectively, as of September 30, 2021 . Restricted cash of $ 1.3 million and $ 3.3 million is included in Other current assets and Other assets, respectively, as of December 31, 2021 .

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Parenthetical) (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Capital expenditures incurred but not yet paid	$ 11.7	$ 12.6
Treasury repurchased but not yet paid	10	17.2
Other Current Assets [Member]
Restricted Cash	1.4	1.2	$ 1.3
Other Noncurrent Assets [Member]
Restricted Cash	$ 2.3	$ 3.7	$ 3.3

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock	Paid-In Capital	Accumulated Other Comprehensive (Loss) Income	Retained Earnings	Treasury Stock
Beginning Balance at Dec. 31, 2020	$ 2,775.5	$ 1.8	$ 2,926.3	$ (55.1)	$ 2,180.2	$ (2,277.7)
Comprehensive income:
Net income	597.1				597.1
Other comprehensive income (loss)	1.3			1.3
Stock options exercised	32.6	0.1	32.5
Stock-based compensation	25.5		36			(10.5)
Treasury stock purchases	(270.1)					(270.1)
Dividends	(107.3)				(107.3)
Ending Balance at Sep. 30, 2021	3,054.6	1.9	2,994.8	(53.8)	2,670	(2,558.3)
Beginning Balance at Jun. 30, 2021	3,043.5	1.9	2,982.8	(38.4)	2,539.3	(2,442.1)
Comprehensive income:
Net income	202.1				202.1
Other comprehensive income (loss)	(15.4)			(15.4)
Stock options exercised	0.4		0.4
Stock-based compensation	9.5		11.6			(2.1)
Treasury stock purchases	(114.1)					(114.1)
Dividends	(71.4)				(71.4)
Ending Balance at Sep. 30, 2021	3,054.6	1.9	2,994.8	(53.8)	2,670	(2,558.3)
Beginning Balance at Dec. 31, 2021	3,064.8	1.9	3,018.3	(24.6)	2,807.9	(2,738.7)
Comprehensive income:
Net income	577.1				577.1
Other comprehensive income (loss)	22.4			22.4
Stock options exercised	0.6		0.6
Stock-based compensation	14.3		40			(25.7)
Treasury stock purchases	(541.1)					(541.1)
Dividends	(108)				(108)
Ending Balance at Sep. 30, 2022	3,030.1	1.9	3,058.9	(2.2)	3,277	(3,305.5)
Beginning Balance at Jun. 30, 2022	2,952.4	1.9	3,046.2	27.8	3,145	(3,268.5)
Comprehensive income:
Net income	204.2				204.2
Other comprehensive income (loss)	(30)			(30)
Stock options exercised	0.2		0.2
Stock-based compensation	11.6		12.5			(0.9)
Treasury stock purchases	(36.1)					(36.1)
Dividends	(72.2)				(72.2)
Ending Balance at Sep. 30, 2022	$ 3,030.1	$ 1.9	$ 3,058.9	$ (2.2)	$ 3,277	$ (3,305.5)

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Stockholders' Equity [Abstract]
Dividends per Common share	$ 0.56	$ 0.52	$ 0.84	$ 0.78

Basis of Presentation and Princ

Basis of Presentation and Principles of Consolidation	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Principles of Consolidation	1. Basis of Presentation and Principles of Consolidation References to “Fortune Brands,” “the Company,” “we,” “our” and “us” refer to Fortune Brands Home & Security, Inc. and its consolidated subsidiaries as a whole, unless the context otherwise requires. The Company is a leading home and security products company with a portfolio of leading branded products used for residential home repair, remodeling, new construction and security applications. The condensed consolidated balance sheet as of September 30, 2022, the related condensed consolidated statements of comprehensive income and equity for the nine and three months ended September 30, 2022 and 2021, and the related condensed consolidated statements of cash flows for the nine months ended September 30, 2022 and 2021 are unaudited. The presentation of these financial statements requires us to make estimates and assumptions that affect reported amounts and related disclosures. Actual results could differ from those estimates. In the opinion of management, all adjustments necessary for a fair statement of the financial statements have been included. Interim results may not be indicative of results for a full year. In the first quarter of 2022, our Plumbing segment was renamed “Water Innovations” to better align with our key brands and organizational purpose. The Plumbing segment name change is to the name only and had no impact on the Company’s historical financial position, results of operations, cash flow or segment level results previously reported. In July 2022, we acquired 100 % of the outstanding equity of Aqualisa Holdings (International) Ltd. (“Aqualisa” ), a leading U.K. manufacturer of shower products known for premium, innovative and smart digital shower systems, for a purchase price of $ 156.0 million, net of cash acquired of $ 4.8 million. The results of Aqualisa are reported as part of the Water Innovations segment. We believe its product offerings will enable us to continue to leverage growing trends in water management and connected products. We financed the transaction with borrowings under our existing credit facility. We have not included pro forma financial information as it is immaterial to our condensed consolidated statements of comprehensive income. The fair value allocated to assets acquired and liabilities assumed as of July 29, 2022 was $ 156.0 million. In January 2022, we acquired 100 % of the outstanding equity of Solar Innovations LLC and an affiliated entity (together, “Solar” ), a leading producer of wide-opening exterior door systems and outdoor enclosures, for a purchase price of $ 61.6 million, net of cash acquired of $ 4.8 million . The purchase price is subject to a final post-closing working capital adjustment. We financed the transaction using cash on hand and borrowings under our revolving credit facility. The results of Solar are reported as part of the Outdoors & Security segment. Its complementary product offerings support the segment’s outdoor living strategy. The condensed consolidated financial statements and notes are presented pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC” ) and do not contain certain information included in our annual audited consolidated financial statements and notes. The December 31, 2021 condensed consolidated balance sheet was derived from our audited consolidated financial statements, but does not include all disclosures required by U.S. generally accepted accounting principles (“GAAP” ). This Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2021 .

Recently Issued Accounting Stan

Recently Issued Accounting Standards	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Recently Issued Accounting Standards	2. Recently Issued Accounting Standards Disclosures by Business Entities About Government Assistance In November 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-10, Government Assistance (Topic 832). The new guidance, codified in Accounting Standards Codification (“ASC” ) 832, requires business entities that account for transactions with a government by applying a grant or contribution model by analogy to disclose information about government assistance recorded during the period. ASU 2021-10 is effective for all entities for annual reporting periods beginning after December 15, 2021 . The adoption of this guidance did no t have a material effect on our financial statements.

Balance Sheet Information

Balance Sheet Information	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Balance Sheet Information	3. Balance Sheet Information Supplemental information on our balance sheets is as follows: (In millions) September 30, December 31, Inventories: Raw materials and supplies $ 619.9 $ 455.1 Work in process 110.6 93.0 Finished products 771.8 645.7 Total inventories $ 1,502.3 $ 1,193.8 Property, plant and equipment, gross $ 2,438.8 $ 2,278.0 Less: accumulated depreciation 1,341.1 1,268.5 Property, plant and equipment, net $ 1,097.7 $ 1,009.5

Acquisitions and Dispositions

Acquisitions and Dispositions	9 Months Ended
	Sep. 30, 2022
Business Combinations [Abstract]
Acquisitions and Dispositions	4. Acquisitions and Dispositions Cabinets On April 28, 2022, the Company announced that its Board of Directors authorized the Company to develop a plan to separate the Company into two independent, publicly-traded companies via a tax-free spin-off of the MasterBrand Cabinets, Inc. business into a separate standalone publicly-traded company (the “Spin-Off”). The Spin-Off is expected to be completed within twelve months from the announcement date, subject to a number of conditions including the approval by the Company’s Board of Directors and the effectiveness of a registration statement on Form 10 to be filed with the SEC. Aqualisa In July 2022, we acquired 100 % of the outstanding equity of Aqualisa Holdings (International) Ltd. (“Aqualisa”), a leading U.K. manufacturer of shower products known for premium, innovative and smart digital shower systems, for a purchase price of $ 156.0 million, net of cash acquired of $ 4.8 million. The results of Aqualisa are reported as part of the Water Innovations segment. We believe its product offerings will enable us to continue to leverage growing trends in water management and connected products. We financed the transaction with borrowings under our existing credit facility. We have not included pro forma financial information as the transaction is immaterial to our condensed consolidated statements of comprehensive income. The fair value allocated to assets acquired and liabilities assumed as of July 29, 2022 was $ 156.0 million, which include s $ 87.3 mi llion of goodwill. Goodwill includes expected sales and cost synergies and is not expected to be deductible for income tax purposes. Solar In January 2022, we acquired 100 % of the outstanding equity of Solar for a purchase price of $ 61.6 million, net of cash acquired of $ 4.8 million. The purchase price is subject to a final post-closing working capital adjustment. We financed the transaction using cash on hand and borrowings under our revolving credit facility. The results of Solar are reported as part of the Outdoors & Security segment. Its complementary product offerings support the segment’s outdoor living strategy. Solar's net sales and operating income for the three and nine months ended September 30, 2022 were not material to the Company. We have not included pro forma financial information as the transaction is immaterial to our condensed consolidated statements of comprehensive income. The fair value allocated to assets acquired and liabilities assumed as of January 31, 2022 was $ 61.6 million, which includes $ 21.0 million of goodwill. Goodwill includes expected sales and cost synergies and is expected to be deductible for income tax purposes. Flo Technologies In 2018, our Water Innovations segment entered into a strategic partnership with, and acquired non-controlling equity interests in, Flo Technologies, Inc. (“Flo” ), a U.S. manufacturer of comprehensive water monitoring and shut-off systems with leak detection technologies. In January 2020, we entered into an agreement to acquire the remaining outstanding shares of Flo in a multi-phase transaction. As part of this agreement, we acquired a majority of Flo’s outstanding shares during 2020 and entered into a forward contract to purchase all remaining shares of Flo during the first quarter of 2022 for a price based on a multiple of Flo’s 2021 sales and adjusted earnings before interest and taxes. On January 30, 2022, we made a final cash payment of $ 16.7 million to the legacy minority shareholders to acquire such shares which is reflected within Other financing, net in our consolidated statements of cash flows. The minority shareholders’ substantive participating rights expired on January 1, 2021 , at which time we obtained control of, and began consolidating, Flo in our results of operations and statements of financial positions and cash flows. Immediately prior to consolidating Flo, we recognized a non-cash loss of $ 4.5 million within other expense during the three months ended March 31, 2021 related to the remeasurement of our previously existing investment in Flo. The fair value allocated to assets acquired and liabilities assumed as of January 1, 2021 was $ 87.8 million, net of cash acquired of $ 9.7 million, which includes $ 65.3 million of goodwill. Goodwill includes expected sales and cost synergies and is not expected to be deductible for income tax purposes.

Goodwill and Identifiable Intan

Goodwill and Identifiable Intangible Assets	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Identifiable Intangible Assets	5. Goodwill and Identifiable Intangible Assets We had goodwill of $ 2,546.2 million and $ 2,465.1 million as of September 30, 2022 and December 31, 2021 , respectively. The change in the net carrying amount of goodwill by segment was as follows: (In millions) Water Innovations Outdoors & Cabinets Total Goodwill at December 31, 2021 (a) $ 814.1 $ 724.8 $ 926.2 $ 2,465.1 Year-to-date translation adjustments ( 24.5 ) ( 0.8 ) ( 1.9 ) ( 27.2 ) Acquisition-related adjustments 87.3 21.0 - 108.3 Goodwill at September 30, 2022 (a) $ 876.9 $ 745.0 $ 924.3 $ 2,546.2 (a) Net of accumulated impairment losses of $ 399.5 million in the Outdoors & Security segment. The gross carrying value and accumulated amortization by class of identifiable intangible assets as of September 30, 2022 and December 31, 2021 were as follows: (In millions) As of September 30, 2022 As of December 31, 2021 Gross Accumulated Net Gross Accumulated Net Indefinite-lived tradenames $ 681.5 $ - $ 681.5 $ 711.1 $ - $ 711.1 Amortizable intangible assets Tradenames 54.3 ( 16.4 ) 37.9 36.4 ( 15.5 ) 20.9 Customer and contractual relationships 1,016.5 ( 422.0 ) 594.5 975.7 ( 388.2 ) 587.5 Patents/proprietary technology 139.0 ( 77.0 ) 62.0 133.1 ( 68.8 ) 64.3 Total 1,209.8 ( 515.4 ) 694.4 1,145.2 ( 472.5 ) 672.7 Total identifiable intangibles $ 1,891.3 $ ( 515.4 ) $ 1,375.9 $ 1,856.3 $ ( 472.5 ) $ 1,383.8 We had net identifiable intangible assets of $ 1,375.9 million and $ 1,383.8 million as of September 30, 2022 and December 31, 2021, respectively. The $ 35.0 million increase in gross identifiable intangible assets was primarily due to the acquisition of Aqualisa and Solar partially offset b y the tradename impairment charges of $ 26.0 million in our Cabinets segment (as discussed below) and translation adjustments. Amortizable identifiable intangible assets, principally customer relationships, are subject to amortization over their estimated useful life, ranging from 5 to 30 years, based on the assessment of a number of factors that may impact useful life, which includes customer attrition rates and other relevant factors. The asset impairment charge of $ 26.0 million in 2022 relates to an indefinite-lived tradename within our Cabinets segment. During the second quarter of 2022, production was shifted at a historical make-to-order plant to a stock product line, to enable what we expect to be a higher value purpose and growth opportunity. This production shift led to downward revisions to forecasted revenue growth rates associated with the tradename. The fair value of this tradename was measured using the relief-from-royalty approach, which estimates the present value of royalty income that could be hypothetically earned by licensing the tradename to a third party over its remaining useful life. Some of the more significant assumptions inherent in estimating the fair values include forecasted revenue growth rates for the tradename, assumed royalty rate, and a market-participant discount rate that reflects the level of risk associated with the tradenames’ future revenues and profitability. We selected the assumptions used in the financial forecasts using historical data, supplemented by current and anticipated market conditions, estimated growth rates, and management plans. These assumptions represent Level 3 inputs of the fair value hierarchy (refer to Note 8). The significant assumptions used to estimate the fair value of the tradename impaired in the second quarter of 2022 were as follows: Unobservable Input 2022 Discount rate 11.6 % Royalty rate (a) 3 % Long-term revenue growth rate (b) 1 % (a) Represents estimated percentage of sales a market-participant would pay to license the impaired tradename. (b) Selected long-term revenue growth rate within 10-year projection period of the impaired tradename. As of September 30, 2022, the estimated fair value of this tradename equaled its carrying value of $ 59.0 million. A reduction in the estimated fair value of this tradename could trigger additional impairment charges in future periods. Events or circumstances that could have a potential negative effect on the estimated fair value of our reporting units and indefinite-lived tradenames include: lower than forecasted revenues, more severe impacts of the COVID-19 pandemic than currently expected, including due to resurgences of the virus, actual new construction and repair and remodel growth rates that fall below our assumptions, actions of key customers, increases in discount rates, continued economic uncertainty, higher levels of unemployment, weak consumer confidence, lower levels of discretionary consumer spending, a decrease in royalty rates and a decline in the trading price of our common stock. We cannot predict the occurrence of certain events or changes in circumstances that might adversely affect the carrying value of goodwill and indefinite-lived assets.

External Debt and Financing Arr

External Debt and Financing Arrangements	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
External Debt and Financing Arrangements	6. External Debt and Financing Arrangements Senior Notes In March 2022, the Company issued $ 900 million in aggregate principal amount of senior unsecured notes in a registered public offering consisting of $ 450 million of 4.00 % senior unsecured notes maturing in 2032 and $ 450 million of 4.50 % senior unsecured notes maturing in 2052 (together, the “2022 Notes”). The Company used the net proceeds from the 2022 Notes offering to pay down a portion of the outstanding balance on the 2021 Term Loan, as described below. At September 30, 2022 , the Company had aggregate outstanding senior notes in the amount of $ 2.7 billion, with varying maturities (the “Notes”). The Notes are unsecured senior obligations of the Company. The following table provides a summary of the Company’s outstanding Notes, including the net carrying value of the Notes, net of underwriting commissions, price discounts, and debt issuance costs as of September 30, 2022 and December 31, 2021: Net Carrying Value (in millions) Principal Amount Issuance Date Maturity Date September 30, 2022 December 31, 2021 4.000% Senior Notes $ 500.0 June 2015 June 2025 $ 497.9 $ 497.4 4.000% Senior Notes 600.0 September 2018 September 2023 599.0 598.2 3.250% Senior Notes 700.0 September 2019 September 2029 694.8 694.2 4.000% Senior Notes 450.0 March 2022 March 2032 445.6 - 4.500% Senior Notes 450.0 March 2022 March 2052 435.3 - Total Senior Notes $ 2,700.0 $ 2,672.6 $ 1,789.8 Credit Facilities In August 2022, the Company entered into a third amended and restated $ 1.25 billion revolving credit facility (the “2022 Revolving Credit Agreement”), and borrowings thereunder will be used for general corporate purposes. The maturity date of the facility is August 2027 . Interest rates under the 2022 Revolving Credit Agreement are variable based on the Secured Overnight Financing Rate (“SOFR”) at the time of the borrowing and the Company’s long-term credit rating and can range from SOFR + 1.02 % to SOFR + 1.525 %. Under the 2022 Revolving Credit Agreement, the Company is required to maintain a minimum ratio of consolidated EBITDA to consolidated interest expense of 3.0 to 1.0. Consolidated EBITDA is defined as consolidated net income before interest expense, income taxes, depreciation, amortization of intangible assets, losses from asset impairments, and certain other one-time adjustments. In addition, the Company's ratio of consolidated debt minus certain cash and cash equivalents to consolidated EBITDA generally may not exceed 3.5 to 1.0. On September 30, 2022 and December 31, 2021, our outstanding borrowings under this facility and our previous revolving credit facility were $ 100.0 million and $ 520.0 million, respectively. This facility is included in Long-term debt in the condensed consolidated balance sheets. As of September 30, 2022, we were in compliance with all covenants under this facility. In November 2021, the Company entered into a 364-day, $ 400 million term loan credit agreement (the “2021 Term Loan”), for general corporate purposes, to mature in November 2022. On March 1, 2022, the Company entered into a First Amendment and Incremental Agreement to the 2021 Term Loan (the “First Amendment” ). The First Amendment provided for an increase in the principal amount from $ 400 million to $ 600 million as well as the transition from LIBOR to SOFR interest rates. As a result, interest rates under the 2021 Term Loan were variable based on SOFR at the time of the borrowing and the Company’s long-term credit rating and could range from SOFR + 0.725 % to SOFR + 1.350 %. On March 18, 2022, the Company entered into a Second Amendment and Incremental Agreement to the 2021 Term Loan (the “Second Amendment” ), increasing the principal amount from $ 600 million to $ 1.1 billion. All other terms and conditions remained the same under the First Amendment and Second Amendment. Proceeds from the increased 2021 Term Loan were used to repay outstanding balances under our previous revolving credit facility. The outstanding $ 1.1 billion under the 2021 Term Loan was repaid on March 25, 2022 with proceeds from the senior notes offering in March 2022 (as described above) and other existing sources of liquidity. We currently have uncommitted bank lines of credit in China, which provide for unsecured borrowings for working capital of up to $ 20.5 million and $ 17.5 million in aggregate as of September 30, 2022 and December 31, 2021 , respectively. There were outstanding balances of $ 1.4 million as of September 30, 2022 and no outstanding balance as of December 31, 2021. Commercial Paper In November 2021, the Company established a commercial paper program (the “Commercial Paper Program” ) pursuant to which the Company may issue unsecured commercial paper notes. The Company’s 2022 Revolving Credit Agreement is the liquidity backstop for the repayment of any notes issued under the Commercial Paper Program, and as such, borrowings under the Commercial Paper Program are included in Long-term debt in the condensed consolidated balance sheets. Amounts available under the Commercial Paper Program may be borrowed, repaid and re-borrowed, with the aggregate principal amount outstanding at any time, including borrowings under the 2022 Revolving Credit Agreement, not to exceed $ 1.25 billion. The Company plans to use net proceeds from any issuances under the Commercial Paper Program for general corporate purposes. On September 30, 2022 and December 31, 2021 our outstanding borrowings under the Commercial Paper Program w ere $ 613.3 million and zero , respectively.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	7. Financial Instruments We do not enter into financial instruments for trading or speculative purposes. We principally use financial instruments to reduce the impact of changes in foreign currency exchange rates and commodities used as raw materials in our products. The principal derivative financial instruments we enter into on a routine basis are foreign exchange contracts. Derivative financial instruments are recorded at fair value. The counterparties to derivative contracts are major financial institutions. We are subject to credit risk on these contracts equal to the fair value of these instruments. Management currently believes that the risk of incurring material losses is unlikely and that the losses, if any, would be immaterial to the Company. Raw materials used by the Company are subject to price volatility caused by weather, supply conditions, geopolitical and economic variables, and other unpredictable external factors. As a result, from time to time, we enter into commodity swaps to manage the price risk associated with forecasted purchases of materials used in our operations. We may be exposed to interest rate risk on existing debt or forecasted debt issuance. To mitigate this risk, we may enter into interest rate hedge contracts. As of September 30, 2022 , we had outstanding interest rate hedges with a notional value of $ 600 million which have been accounted for as cash flow hedges. We terminated $ 600 million of interest rate hedges during the first quarter of 2022, concurrent with the issuance of new long-term debt. Total realized pre-tax gains of $ 39.0 million related to these interest rate hedges have been recorded in accumulated other comprehensive income and will be reclassified to earnings over the related maturity of the related interest rate hedging instrument. Our primary foreign currency hedge contracts pertain to the Canadian dollar, the British pound, the Mexican peso and the Chinese yuan. The gross U.S. dollar equivalent notional amount of all foreign currency derivative hedges outstanding at September 30, 2022 w as $ 553.7 milli on. Based on foreign exchange rates as of September 30, 2022, we estimate th at $ 2.5 mil lion of net derivative losses included in accumulated other comprehensive income as of September 30, 2022 will be reclassified to earnings within the next twelve months. The fair values of derivative instruments on the consolidated balance sheets as of September 30, 2022 and December 31, 2021 were as follows: Fair Value (In millions) Location September 30, December 31, Assets: Foreign exchange contracts Other current assets $ 9.5 $ 4.1 Interest rate hedges Other non-current assets 88.8 - Total assets $ 98.3 $ 4.1 Liabilities: Foreign exchange contracts Other current liabilities $ 10.9 $ 1.4 Commodity contracts Other current liabilities 7.6 0.1 Total liabilities $ 18.5 $ 1.5 The effects of derivative financial instruments on the statements of comprehensive income for the nine months ended September 30, 2022 and 2021 were as follows: (In millions) Classification and Amount of Gain (Loss) Nine Months Ended September 30, 2022 Cost of Interest Other income, net Total amounts per Consolidated Statements of Comprehensive Income $ 3,895.9 $ 85.4 $ 3.6 The effects of fair value and cash flow hedging: Gain (loss) on fair value hedging relationships Foreign exchange contracts: Hedged items - - ( 26.1 ) Derivative designated as hedging instruments - - 21.6 Gain (loss) on cash flow hedging relationships Foreign exchange contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income 4.3 - - Commodity contracts: Amoun t of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income ( 4.2 ) - - Interest rate contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income - 2.5 - (In millions) Classification and Amount of Gain (Loss) Nine Months Ended September 30, 2021 Cost of Interest Other expense, net Total amounts per Consolidated Statements of Comprehensive Income $ 3,637.2 $ 63.2 $ 0.7 The effects of fair value and cash flow hedging: Gain (loss) on fair value hedging relationships Foreign exchange contracts: Hedged items - - ( 2.1 ) Derivative designated as hedging instruments - - ( 0.6 ) Gain (loss) on cash flow hedging relationships Foreign exchange contracts: Amoun t of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income 0.2 - - Commodity contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income 0.9 - - Interest rate contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income - 0.5 - The effects of derivative financial instruments on the statements of comprehensive income for the three months ended September 30, 2022 and 2021 were as follows: (In millions) Classification and Amount of Gain (Loss) Three Months Ended September 30, 2022 Cost of Interest Other income, net Total amounts per Consolidated Statements of Comprehensive Income $ 1,310.2 $ 33.1 $ 2.1 The effects of fair value and cash flow hedging: Gain (loss) on fair value hedging relationships Foreign exchange contracts: Hedged items - - ( 17.2 ) Derivative designated as hedging instruments - - 16.5 Gain (loss) on cash flow hedging relationships Foreign exchange contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income 1.3 - - Commodity contracts: Amoun t of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income ( 3.9 ) - - Interest rate contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income - 1.1 - (In millions) Classification and Amount of Gain (Loss) Three Months Ended September 30, 2021 Cost of Interest Other income, net Total amounts per Consolidated Statements of Comprehensive Income $ 1,280.0 $ 20.6 $ 1.3 The effects of fair value and cash flow hedging: Gain (loss) on fair value hedging relationships Foreign exchange contracts: Hedged items - - ( 3.8 ) Derivative designated as hedging instruments - - 3.1 Gain (loss) on cash flow hedging relationships Foreign exchange contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income 0.9 - - Commodity contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income - - Interest rate contracts: - Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income - 0.2 - The cash flow hedges recognized in other comprehensive income were a net gain of $ 125.9 million and a net gain of $ 1.8 million in the nine months ended September 30, 2022 and 2021 , respectively. The cash flow hedges recognized in other comprehensive income were a net gain of $ 126.4 million and a net gain of $ 2.4 million in the three months ended September 30, 2022 and 2021 , respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	8. Fair Value Measurements FASB ASC requirements for Fa ir Value Measurements and Disclosures establish a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels. Level 1 inputs, the highest priority, are quoted prices in active markets for identical assets or liabilities. Level 2 inputs reflect other than quoted prices included in Level 1 that are either observable directly or through corroboration with observable market data. Level 3 inputs are unobservable inputs, due to little or no market activity for the asset or liability, such as internally-developed valuation models. We do not have any assets or liabilities measured at fair value on a recurring basis that are Level 3. The carrying value and fair value of debt as of September 30, 2022 and December 31, 2021 were as follows: (In millions) September 30, 2022 December 31, 2021 Carrying Fair Carrying Fair Notes, net of underwriting commissions, price discounts and debt issuance costs $ 2,672.6 $ 2,338.9 $ 1,789.8 $ 1,902.9 2022 Revolving Credit Agreement 100.0 100.0 520.0 520.0 Commercial paper borrowings 613.3 615.2 - - 2021 Term Loan - - 400.0 400.0 Total debt $ 3,385.9 $ 3,054.1 $ 2,709.8 $ 2,822.9 The estimated fair value of our Notes is determined by using quoted market prices of our debt securities, which are Level 1 inputs. The estimated fair value of our 2022 Revolving Credit Agreement, Commercial paper borrowings and 2021 Term Loan is determined primarily using broker quotes, which are Level 2 inputs. Assets and liabilities measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021 were as follows: (In millions) Fair Value September 30, December 31, Assets Derivative financial instruments (Level 2) $ 98.3 $ 4.1 Deferred compensation program assets (Level 2) 18.8 19.8 Total assets $ 117.1 $ 23.9 Liabilities Derivative financial instruments (Level 2) $ 18.5 $ 1.5

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	9. Accumulated Other Comprehensive Income (Loss) Total accumulated other comprehensive income (loss) consists of net income and other changes in business equity from transactions and other events from sources other than stockholders. It includes currency translation gains and losses, unrealized gains and losses from derivative instruments designated as cash flow hedges, and defined benefit plan adjustments. The after-tax components of and changes in accumulated other comprehensive (loss) income for the nine and three months ended September 30, 2022 and 2021 were as follows: (In millions) Foreign Derivative Defined Accumulated Balance at December 31, 2020 $ 7.2 $ 4.2 $ ( 66.5 ) $ ( 55.1 ) Amounts classified into accumulated other 2.9 1.4 ( 2.6 ) 1.7 Amounts reclassified from accumulated other - ( 1.8 ) 1.4 ( 0.4 ) Net current-period other comprehensive (loss) income 2.9 ( 0.4 ) ( 1.2 ) 1.3 Balance at September 30, 2021 $ 10.1 $ 3.8 $ ( 67.7 ) $ ( 53.8 ) Balance at December 31, 2021 $ 3.3 $ 2.9 $ ( 30.8 ) $ ( 24.6 ) Amounts classified into accumulated other ( 70.5 ) 97.3 ( 1.6 ) 25.2 Amounts reclassified from accumulated other - ( 3.1 ) 0.3 ( 2.8 ) Net current-period other comprehensive (loss) income ( 70.5 ) 94.2 ( 1.3 ) 22.4 Balance at September 30, 2022 $ ( 67.2 ) $ 97.1 $ ( 32.1 ) $ ( 2.2 ) (In millions) Foreign Derivative Defined Accumulated Balance at June 30, 2021 $ 25.0 $ 3.3 $ ( 66.7 ) $ ( 38.4 ) Amounts classified into accumulated other ( 14.9 ) 1.7 ( 2.4 ) ( 15.6 ) Amounts reclassified from accumulated other - ( 1.2 ) 1.4 0.2 Net current-period other comprehensive (loss) income ( 14.9 ) 0.5 ( 1.0 ) ( 15.4 ) Balance at September 30, 2021 $ 10.1 $ 3.8 $ ( 67.7 ) $ ( 53.8 ) Balance at June 30, 2022 $ ( 12.8 ) $ 71.5 $ ( 30.9 ) $ 27.8 Amounts classified into accumulated other ( 54.4 ) 24.9 ( 1.5 ) ( 31.0 ) Amounts reclassified from accumulated other - 0.7 0.3 1.0 Net current-period other comprehensive (loss) income ( 54.4 ) 25.6 ( 1.2 ) ( 30.0 ) Balance at September 30, 2022 $ ( 67.2 ) $ 97.1 $ ( 32.1 ) $ ( 2.2 ) The reclassifications out of accumulated other comprehensive loss for the nine and three months ended September 30, 2022 and 2021 were as follows: (In millions) Details about Accumulated Other Amount Reclassified from Affected Line Item in 2022 2021 Gains (losses) on cash flow hedges Foreign exchange contracts $ 4.3 $ 0.2 Cost of products sold Commodity contracts ( 4.2 ) 0.9 Cost of products sold Interest rate contracts 2.5 0.5 Interest expense 2.6 1.6 Total before tax 0.5 0.2 Tax expense $ 3.1 $ 1.8 Net of tax Defined benefit plan items Recognition of actuarial losses $ ( 0.4 ) $ ( 1.1 ) Other (income) expense, net ( 0.4 ) ( 1.1 ) Total before tax 0.1 ( 0.3 ) Tax expense $ ( 0.3 ) $ ( 1.4 ) Net of tax Total reclassifications for the period $ 2.8 $ 0.4 Net of tax (In millions) Details about Accumulated Other Amount Reclassified from Affected Line Item in 2022 2021 Gains (losses) on cash flow hedges Foreign exchange contracts $ 1.3 $ 0.9 Cost of products sold Commodity contracts ( 3.9 ) - Cost of products sold Interest rate contracts 1.1 0.2 Interest expense ( 1.5 ) 1.1 Total before tax 0.8 0.1 Tax expense Total reclassifications for the period $ ( 0.7 ) $ 1.2 Net of tax Defined benefit plan items Recognition of actuarial losses $ ( 0.4 ) $ ( 1.1 ) Other (income) expense, net ( 0.4 ) ( 1.1 ) Total before tax 0.1 ( 0.3 ) Tax expense $ ( 0.3 ) $ ( 1.4 ) Net of tax Total reclassifications for the period $ ( 1.0 ) $ ( 0.2 ) Net of tax

Revenue

Revenue	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Revenue	10. Revenue The following table disaggregates our consolidated revenue by major sales distribution channels for the nine and three months ended September 30, 2022 and 2021: (In millions) Nine Months Ended Three Months Ended 2022 2021 2022 2021 Wholesalers (a) $ 2,874.4 $ 2,594.4 $ 987.6 $ 933.6 Home Center retailers (b) 1,787.5 1,642.0 580.6 524.9 Other retailers (c) 309.9 326.6 99.7 128.5 Builder direct 248.1 194.8 88.1 65.7 U.S. net sales 5,219.9 4,757.8 1,756.0 1,652.7 International (d) 862.1 935.6 297.7 333.6 Net sales $ 6,082.0 $ 5,693.4 $ 2,053.7 $ 1,986.3 (a) Represents sales to customers whose business is oriented towards builders, professional trades and home remodelers, inclusive of sales through our customers’ respective internet website portals. (b) Represents sales to the three largest “Do-It-Yourself” retailers; The Home Depot, Inc., Lowe's Companies, Inc. and Menards, Inc., inclusive of sales through their respective internet website portals. (c) Represents sales principally to our mass merchant and standalone independent e-commerce customers. (d) Represents sales in markets outside the United States, principally in Canada, China, Europe and Mexico.

Defined Benefit Plans

Defined Benefit Plans	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Defined Benefit Plans	11. Defined Benefit Plans The components of net periodic benefit income for pension benefits for the nine and three months ended September 30, 2022 and 2021 were as follows: (In millions) Nine Months Ended September 30, Three Months Ended September 30, Pension Benefits Pension Benefits 2022 2021 2022 2021 Service cost $ 0.2 $ 0.3 $ - $ 0.1 Interest cost 19.1 18.0 6.4 6.0 Expected return on plan assets ( 26.6 ) ( 26.2 ) ( 8.9 ) ( 8.7 ) Recognition of actuarial losses 0.4 1.1 0.4 1.1 Net periodic benefit income $ ( 6.9 ) $ ( 6.8 ) $ ( 2.1 ) $ ( 1.5 ) Service cost relates to benefit accruals in an hourly Union defined benefit plan in our Outdoors & Security segment. All other defined benefit pension plans were frozen as of December 31, 2016.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	12. Income Taxes The effective income tax rates for the nine and three months ended September 30 were 21.7 % and 18.4 % for 2022 and 22.0 % and 24.4 % for 2021, respectively. The difference between the Company’s effective tax rate for the nine and three months ended September 30, 2022 , and the U.S. statutory rate of 21.0 % primarily relates to state income taxes (net of federal income tax benefit), the benefit for decreases in uncertain tax positions and tax expense related to the tax audit settlement. In the third quarter of 2022, the Internal Revenue Service (“IRS”) completed its examination of the Company’s tax filings for 2017 and 2018. As a result of closing the IRS examination, the Company realized a net tax benefit related to the release of uncertain tax positions reduced by tax expenses to adjust accrued current and deferred income tax liabilities. As a result of the IRS audit, the Company is now recognizing deferred tax liability for full inclusion entities where the Company cannot assert permanent reinvestment.

Product Warranties

Product Warranties	9 Months Ended
	Sep. 30, 2022
Guarantees and Product Warranties [Abstract]
Product Warranties	13. Product Warranties We generally record warranty expense related to contractual warranty terms at the time of sale. We may also provide customer concessions for claims made outside of the contractual warranty terms and those expenses are recorded in the period in which the concession is made. We offer our customers various warranty terms based on the type of product that is sold. Warranty expense is determined based on historic claim experience and the nature of the product category. The following table summarizes activity related to our product warranty liability for the nine months ended September 30, 2022 and 2021, respectively. (In millions) Nine Months Ended 2022 2021 Reserve balance at January 1, $ 26.5 $ 24.5 Provision for warranties issued 35.1 26.5 Settlements made (in cash or in kind) ( 32.1 ) ( 25.5 ) Acquisitions 1.1 0.3 Foreign translation adjustments ( 0.5 ) 0.1 Reserve balance at September 30, $ 30.1 $ 25.9

Information on Business Segment

Information on Business Segments	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Information on Business Segments	14. Information on Business Segments Net sales and operating income for the nine and three months ended September 30, 2022 and 2021 by segment were as follows: Nine Months Ended September 30, (In millions) 2022 2021 % Change Net Sales Water Innovations $ 1,928.6 $ 2,057.6 ( 6.3 ) % Outdoors & Security 1,662.4 1,525.4 9.0 Cabinets 2,491.0 2,110.4 18.0 Net sales $ 6,082.0 $ 5,693.4 6.8 % Operating Income (Loss) Water Innovations $ 462.7 $ 483.3 ( 4.3 ) % Outdoors & Security 223.3 211.7 5.5 Cabinets 243.3 214.2 13.6 Less: Corporate expenses ( 110.6 ) ( 79.3 ) ( 39.5 ) Operating income $ 818.7 $ 829.9 ( 1.3 ) % Three Months Ended September 30, (In millions) 2022 2021 % Change Net Sales Water Innovations $ 635.1 $ 741.4 ( 14.3 ) % Outdoors & Security 560.4 528.4 6.1 Cabinets 858.2 716.5 19.8 Net sales $ 2,053.7 $ 1,986.3 3.4 % Operating Income (Loss) Water Innovations $ 152.7 $ 166.5 ( 8.3 ) % Outdoors & Security 70.6 80.4 ( 12.2 ) Cabinets 100.9 67.2 50.1 Less: Corporate expenses ( 43.0 ) ( 27.5 ) ( 56.4 ) Operating income $ 281.2 $ 286.6 ( 1.9 ) %

Restructuring and Other Charges

Restructuring and Other Charges	9 Months Ended
	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Other Charges	15. Restructuring and Other Charges Pre-tax restructuring and other charges (gains) for the nine and three months ended September 30, 2022 and 2021 are shown below. (In millions) Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Restructuring Other (a) Total Restructuring Other (a) Total Water Innovations $ 3.8 $ 0.7 $ 4.5 $ - $ 2.8 $ 2.8 Outdoors & Security 18.9 ( 6.1 ) 12.8 8.5 ( 0.4 ) 8.1 Cabinets 10.9 6.3 17.2 3.0 3.5 6.5 Corporate ( 0.5 ) - ( 0.5 ) - - - Total $ 33.1 $ 0.9 $ 34.0 $ 11.5 $ 5.9 $ 17.4 (a) “Other Charges (Gains)” represent charges directly related to restructuring initiatives that cannot be reported as restructuring under GAAP. Such costs may include losses on disposal of inventories, trade receivables allowances from exiting product lines, accelerated depreciation resulting from the closure of facilities and gains or losses on the sale of previously closed facilities. Restructuring and other charges (gains) in the first nine months of 2022 are largely related to severance, asset impairment and other costs associated with plant closures and headcount actions across all segments. Restructuring and other charges (gains) in the first nine months of 2021 were largely related to severance costs associated with the relocation of manufacturing facilities within our Cabinets and Outdoors & Security segments. (In millions) Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Restructuring Other (a) Total Restructuring Other (a) Total Water Innovations $ 2.9 $ - $ 2.9 $ - $ 1.2 $ 1.2 Outdoors & Security 18.2 0.2 18.4 2.4 ( 0.4 ) 2.0 Cabinets 9.6 3.9 13.5 1.2 0.9 2.1 Corporate ( 0.5 ) - ( 0.5 ) - - - Total $ 30.2 $ 4.1 $ 34.3 $ 3.6 $ 1.7 $ 5.3 (a) “Other Charges (Gains)” represent charges directly related to restructuring initiatives that cannot be reported as restructuring under GAAP. Such costs may include losses on disposal of inventories, trade receivables allowances from exiting product lines, accelerated depreciation resulting from the closure of facilities and gains or losses on the sale of previously closed facilities. Restructuring and other charges (gains) in the third quarter of 2022 are largely related to severance, asset impairment and other costs associated with plant closures and headcount actions across all segments. Restructuring and other charges (gains) in the third quarter of 2021 were largely related to severance costs associated with headcount actions within our Outdoor & Security and Cabinets segments. Reconciliation of Restructuring Liability (In millions) Balance at 2022 Cash (a) Balance at Workforce reduction costs $ 4.7 $ 24.5 $ ( 7.1 ) $ 22.1 Other 1.0 8.6 ( 0.4 ) 9.2 Total $ 5.7 $ 33.1 $ ( 7.5 ) $ 31.3 (a) Cash expenditures primarily relate to severance charges. (In millions) Balance at 2021 Cash (a) Balance at Workforce reduction costs $ 6.9 $ 9.6 $ ( 11.2 ) $ 5.3 Other 0.7 1.9 ( 1.5 ) 1.1 Total $ 7.6 $ 11.5 $ ( 12.7 ) $ 6.4 (a) Cash expenditures primarily relate to severance charges.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	16. Earnings Per Share The computations of earnings per common share for the nine and three months ended September 30, 2022 and 2021were as follows: (In millions, except per share data) Nine Months Ended Three Months Ended 2022 2021 2022 2021 Net income $ 577.1 $ 597.1 $ 204.2 $ 202.1 Basic earnings per common share $ 4.40 $ 4.32 $ 1.58 $ 1.47 Diluted earnings per common share $ 4.37 $ 4.26 $ 1.57 $ 1.45 Basic average shares outstanding 131.0 138.3 129.3 137.8 Stock-based awards 1.0 1.9 0.8 1.9 Diluted average shares outstanding 132.0 140.2 130.1 139.7 Antidilutive stock-based awards excluded from weighted- 1.2 0.3 1.6 0.4

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	17. Commitments and Contingencies Litigation We are defendants in lawsuits associated with the normal conduct of our businesses and operations. It is not possible to predict the outcome of the pending actions, and, as with any litigation, it is possible that these actions could be decided unfavorably to the Company. The Company believes that there are meritorious defenses to these actions and that these actions will not have a material adverse effect upon our results of operations, cash flows or financial condition, and where appropriate, these actions are being vigorously contested. Accordingly, the Company believes the likelihood of material loss is remote. Environmental Compliance with federal, state and local laws regulating the discharge of materials into the environment, or otherwise relating to the protection of the environment, did not have a material effect on capital expenditures, earnings or the competitive position of Fortune Brands during the nine and three months ended September 30, 2022 and 2021 . We are involved in remediation activities to clean up hazardous wastes as required by federal and state laws. Liabilities for remediation costs of each site are based on our best estimate of undiscounted future costs. Uncertainties about the status of laws, regulations, technology and information related to individual sites make it difficult to develop estimates of environmental remediation exposures. We believe compliance with current environmental protection laws (before taking into account estimated recoveries from third parties) will not have a material adverse effect upon our results of operations, cash flows or financial condition.

Balance Sheet Information (Tabl

Balance Sheet Information (Tables)	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplemental Information on Balance Sheets	Supplemental information on our balance sheets is as follows: (In millions) September 30, December 31, Inventories: Raw materials and supplies $ 619.9 $ 455.1 Work in process 110.6 93.0 Finished products 771.8 645.7 Total inventories $ 1,502.3 $ 1,193.8 Property, plant and equipment, gross $ 2,438.8 $ 2,278.0 Less: accumulated depreciation 1,341.1 1,268.5 Property, plant and equipment, net $ 1,097.7 $ 1,009.5

Goodwill and Identifiable Int_2

Goodwill and Identifiable Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Change in Net Carrying Amount of Goodwill by Segment	The change in the net carrying amount of goodwill by segment was as follows: (In millions) Water Innovations Outdoors & Cabinets Total Goodwill at December 31, 2021 (a) $ 814.1 $ 724.8 $ 926.2 $ 2,465.1 Year-to-date translation adjustments ( 24.5 ) ( 0.8 ) ( 1.9 ) ( 27.2 ) Acquisition-related adjustments 87.3 21.0 - 108.3 Goodwill at September 30, 2022 (a) $ 876.9 $ 745.0 $ 924.3 $ 2,546.2 (a) Net of accumulated impairment losses of $ 399.5 million in the Outdoors & Security segment.
Gross Carrying Value and Accumulated Amortization by Class of Identifiable Intangible Assets	The gross carrying value and accumulated amortization by class of identifiable intangible assets as of September 30, 2022 and December 31, 2021 were as follows: (In millions) As of September 30, 2022 As of December 31, 2021 Gross Accumulated Net Gross Accumulated Net Indefinite-lived tradenames $ 681.5 $ - $ 681.5 $ 711.1 $ - $ 711.1 Amortizable intangible assets Tradenames 54.3 ( 16.4 ) 37.9 36.4 ( 15.5 ) 20.9 Customer and contractual relationships 1,016.5 ( 422.0 ) 594.5 975.7 ( 388.2 ) 587.5 Patents/proprietary technology 139.0 ( 77.0 ) 62.0 133.1 ( 68.8 ) 64.3 Total 1,209.8 ( 515.4 ) 694.4 1,145.2 ( 472.5 ) 672.7 Total identifiable intangibles $ 1,891.3 $ ( 515.4 ) $ 1,375.9 $ 1,856.3 $ ( 472.5 ) $ 1,383.8
Significant Assumptions Used to Estimate the Fair Values of Tradenames Impaired	The significant assumptions used to estimate the fair value of the tradename impaired in the second quarter of 2022 were as follows: Unobservable Input 2022 Discount rate 11.6 % Royalty rate (a) 3 % Long-term revenue growth rate (b) 1 % (a) Represents estimated percentage of sales a market-participant would pay to license the impaired tradename. (b) Selected long-term revenue growth rate within 10-year projection period of the impaired tradename.

External Debt and Financing A_2

External Debt and Financing Arrangements (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Summary of Outstanding Notes	The following table provides a summary of the Company’s outstanding Notes, including the net carrying value of the Notes, net of underwriting commissions, price discounts, and debt issuance costs as of September 30, 2022 and December 31, 2021: Net Carrying Value (in millions) Principal Amount Issuance Date Maturity Date September 30, 2022 December 31, 2021 4.000% Senior Notes $ 500.0 June 2015 June 2025 $ 497.9 $ 497.4 4.000% Senior Notes 600.0 September 2018 September 2023 599.0 598.2 3.250% Senior Notes 700.0 September 2019 September 2029 694.8 694.2 4.000% Senior Notes 450.0 March 2022 March 2032 445.6 - 4.500% Senior Notes 450.0 March 2022 March 2052 435.3 - Total Senior Notes $ 2,700.0 $ 2,672.6 $ 1,789.8

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Values of Derivative Instruments	The fair values of derivative instruments on the consolidated balance sheets as of September 30, 2022 and December 31, 2021 were as follows: Fair Value (In millions) Location September 30, December 31, Assets: Foreign exchange contracts Other current assets $ 9.5 $ 4.1 Interest rate hedges Other non-current assets 88.8 - Total assets $ 98.3 $ 4.1 Liabilities: Foreign exchange contracts Other current liabilities $ 10.9 $ 1.4 Commodity contracts Other current liabilities 7.6 0.1 Total liabilities $ 18.5 $ 1.5
Effects of Derivative Financial Instruments on Consolidated Statements of Income	The effects of derivative financial instruments on the statements of comprehensive income for the nine months ended September 30, 2022 and 2021 were as follows: (In millions) Classification and Amount of Gain (Loss) Nine Months Ended September 30, 2022 Cost of Interest Other income, net Total amounts per Consolidated Statements of Comprehensive Income $ 3,895.9 $ 85.4 $ 3.6 The effects of fair value and cash flow hedging: Gain (loss) on fair value hedging relationships Foreign exchange contracts: Hedged items - - ( 26.1 ) Derivative designated as hedging instruments - - 21.6 Gain (loss) on cash flow hedging relationships Foreign exchange contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income 4.3 - - Commodity contracts: Amoun t of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income ( 4.2 ) - - Interest rate contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income - 2.5 - (In millions) Classification and Amount of Gain (Loss) Nine Months Ended September 30, 2021 Cost of Interest Other expense, net Total amounts per Consolidated Statements of Comprehensive Income $ 3,637.2 $ 63.2 $ 0.7 The effects of fair value and cash flow hedging: Gain (loss) on fair value hedging relationships Foreign exchange contracts: Hedged items - - ( 2.1 ) Derivative designated as hedging instruments - - ( 0.6 ) Gain (loss) on cash flow hedging relationships Foreign exchange contracts: Amoun t of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income 0.2 - - Commodity contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income 0.9 - - Interest rate contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income - 0.5 - The effects of derivative financial instruments on the statements of comprehensive income for the three months ended September 30, 2022 and 2021 were as follows: (In millions) Classification and Amount of Gain (Loss) Three Months Ended September 30, 2022 Cost of Interest Other income, net Total amounts per Consolidated Statements of Comprehensive Income $ 1,310.2 $ 33.1 $ 2.1 The effects of fair value and cash flow hedging: Gain (loss) on fair value hedging relationships Foreign exchange contracts: Hedged items - - ( 17.2 ) Derivative designated as hedging instruments - - 16.5 Gain (loss) on cash flow hedging relationships Foreign exchange contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income 1.3 - - Commodity contracts: Amoun t of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income ( 3.9 ) - - Interest rate contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income - 1.1 - (In millions) Classification and Amount of Gain (Loss) Three Months Ended September 30, 2021 Cost of Interest Other income, net Total amounts per Consolidated Statements of Comprehensive Income $ 1,280.0 $ 20.6 $ 1.3 The effects of fair value and cash flow hedging: Gain (loss) on fair value hedging relationships Foreign exchange contracts: Hedged items - - ( 3.8 ) Derivative designated as hedging instruments - - 3.1 Gain (loss) on cash flow hedging relationships Foreign exchange contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income 0.9 - - Commodity contracts: Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income - - Interest rate contracts: - Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income - 0.2 -

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Carrying Value and Fair Value of Debt	The carrying value and fair value of debt as of September 30, 2022 and December 31, 2021 were as follows: (In millions) September 30, 2022 December 31, 2021 Carrying Fair Carrying Fair Notes, net of underwriting commissions, price discounts and debt issuance costs $ 2,672.6 $ 2,338.9 $ 1,789.8 $ 1,902.9 2022 Revolving Credit Agreement 100.0 100.0 520.0 520.0 Commercial paper borrowings 613.3 615.2 - - 2021 Term Loan - - 400.0 400.0 Total debt $ 3,385.9 $ 3,054.1 $ 2,709.8 $ 2,822.9
Assets and Liabilities Measured at Fair Value on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021 were as follows: (In millions) Fair Value September 30, December 31, Assets Derivative financial instruments (Level 2) $ 98.3 $ 4.1 Deferred compensation program assets (Level 2) 18.8 19.8 Total assets $ 117.1 $ 23.9 Liabilities Derivative financial instruments (Level 2) $ 18.5 $ 1.5

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
After-Tax Components of and Changes in Accumulated Other Comprehensive (Loss) Income	The after-tax components of and changes in accumulated other comprehensive (loss) income for the nine and three months ended September 30, 2022 and 2021 were as follows: (In millions) Foreign Derivative Defined Accumulated Balance at December 31, 2020 $ 7.2 $ 4.2 $ ( 66.5 ) $ ( 55.1 ) Amounts classified into accumulated other 2.9 1.4 ( 2.6 ) 1.7 Amounts reclassified from accumulated other - ( 1.8 ) 1.4 ( 0.4 ) Net current-period other comprehensive (loss) income 2.9 ( 0.4 ) ( 1.2 ) 1.3 Balance at September 30, 2021 $ 10.1 $ 3.8 $ ( 67.7 ) $ ( 53.8 ) Balance at December 31, 2021 $ 3.3 $ 2.9 $ ( 30.8 ) $ ( 24.6 ) Amounts classified into accumulated other ( 70.5 ) 97.3 ( 1.6 ) 25.2 Amounts reclassified from accumulated other - ( 3.1 ) 0.3 ( 2.8 ) Net current-period other comprehensive (loss) income ( 70.5 ) 94.2 ( 1.3 ) 22.4 Balance at September 30, 2022 $ ( 67.2 ) $ 97.1 $ ( 32.1 ) $ ( 2.2 ) (In millions) Foreign Derivative Defined Accumulated Balance at June 30, 2021 $ 25.0 $ 3.3 $ ( 66.7 ) $ ( 38.4 ) Amounts classified into accumulated other ( 14.9 ) 1.7 ( 2.4 ) ( 15.6 ) Amounts reclassified from accumulated other - ( 1.2 ) 1.4 0.2 Net current-period other comprehensive (loss) income ( 14.9 ) 0.5 ( 1.0 ) ( 15.4 ) Balance at September 30, 2021 $ 10.1 $ 3.8 $ ( 67.7 ) $ ( 53.8 ) Balance at June 30, 2022 $ ( 12.8 ) $ 71.5 $ ( 30.9 ) $ 27.8 Amounts classified into accumulated other ( 54.4 ) 24.9 ( 1.5 ) ( 31.0 ) Amounts reclassified from accumulated other - 0.7 0.3 1.0 Net current-period other comprehensive (loss) income ( 54.4 ) 25.6 ( 1.2 ) ( 30.0 ) Balance at September 30, 2022 $ ( 67.2 ) $ 97.1 $ ( 32.1 ) $ ( 2.2 )
Reclassifications Out of Accumulated Other Comprehensive (Loss) Income	The reclassifications out of accumulated other comprehensive loss for the nine and three months ended September 30, 2022 and 2021 were as follows: (In millions) Details about Accumulated Other Amount Reclassified from Affected Line Item in 2022 2021 Gains (losses) on cash flow hedges Foreign exchange contracts $ 4.3 $ 0.2 Cost of products sold Commodity contracts ( 4.2 ) 0.9 Cost of products sold Interest rate contracts 2.5 0.5 Interest expense 2.6 1.6 Total before tax 0.5 0.2 Tax expense $ 3.1 $ 1.8 Net of tax Defined benefit plan items Recognition of actuarial losses $ ( 0.4 ) $ ( 1.1 ) Other (income) expense, net ( 0.4 ) ( 1.1 ) Total before tax 0.1 ( 0.3 ) Tax expense $ ( 0.3 ) $ ( 1.4 ) Net of tax Total reclassifications for the period $ 2.8 $ 0.4 Net of tax (In millions) Details about Accumulated Other Amount Reclassified from Affected Line Item in 2022 2021 Gains (losses) on cash flow hedges Foreign exchange contracts $ 1.3 $ 0.9 Cost of products sold Commodity contracts ( 3.9 ) - Cost of products sold Interest rate contracts 1.1 0.2 Interest expense ( 1.5 ) 1.1 Total before tax 0.8 0.1 Tax expense Total reclassifications for the period $ ( 0.7 ) $ 1.2 Net of tax Defined benefit plan items Recognition of actuarial losses $ ( 0.4 ) $ ( 1.1 ) Other (income) expense, net ( 0.4 ) ( 1.1 ) Total before tax 0.1 ( 0.3 ) Tax expense $ ( 0.3 ) $ ( 1.4 ) Net of tax Total reclassifications for the period $ ( 1.0 ) $ ( 0.2 ) Net of tax

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table disaggregates our consolidated revenue by major sales distribution channels for the nine and three months ended September 30, 2022 and 2021: (In millions) Nine Months Ended Three Months Ended 2022 2021 2022 2021 Wholesalers (a) $ 2,874.4 $ 2,594.4 $ 987.6 $ 933.6 Home Center retailers (b) 1,787.5 1,642.0 580.6 524.9 Other retailers (c) 309.9 326.6 99.7 128.5 Builder direct 248.1 194.8 88.1 65.7 U.S. net sales 5,219.9 4,757.8 1,756.0 1,652.7 International (d) 862.1 935.6 297.7 333.6 Net sales $ 6,082.0 $ 5,693.4 $ 2,053.7 $ 1,986.3 (a) Represents sales to customers whose business is oriented towards builders, professional trades and home remodelers, inclusive of sales through our customers’ respective internet website portals. (b) Represents sales to the three largest “Do-It-Yourself” retailers; The Home Depot, Inc., Lowe's Companies, Inc. and Menards, Inc., inclusive of sales through their respective internet website portals. (c) Represents sales principally to our mass merchant and standalone independent e-commerce customers. (d) Represents sales in markets outside the United States, principally in Canada, China, Europe and Mexico.

Defined Benefit Plans (Tables)

Defined Benefit Plans (Tables)	9 Months Ended
	Sep. 30, 2022
Retirement Benefits [Abstract]
Components of Net Periodic Benefit Income for Pension Benefits	The components of net periodic benefit income for pension benefits for the nine and three months ended September 30, 2022 and 2021 were as follows: (In millions) Nine Months Ended September 30, Three Months Ended September 30, Pension Benefits Pension Benefits 2022 2021 2022 2021 Service cost $ 0.2 $ 0.3 $ - $ 0.1 Interest cost 19.1 18.0 6.4 6.0 Expected return on plan assets ( 26.6 ) ( 26.2 ) ( 8.9 ) ( 8.7 ) Recognition of actuarial losses 0.4 1.1 0.4 1.1 Net periodic benefit income $ ( 6.9 ) $ ( 6.8 ) $ ( 2.1 ) $ ( 1.5 )

Product Warranties (Tables)

Product Warranties (Tables)	9 Months Ended
	Sep. 30, 2022
Guarantees and Product Warranties [Abstract]
Activity Related to Product Warranty Liability	The following table summarizes activity related to our product warranty liability for the nine months ended September 30, 2022 and 2021, respectively. (In millions) Nine Months Ended 2022 2021 Reserve balance at January 1, $ 26.5 $ 24.5 Provision for warranties issued 35.1 26.5 Settlements made (in cash or in kind) ( 32.1 ) ( 25.5 ) Acquisitions 1.1 0.3 Foreign translation adjustments ( 0.5 ) 0.1 Reserve balance at September 30, $ 30.1 $ 25.9

Information on Business Segme_2

Information on Business Segments (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Net Sales and Operating Income by Segment	Net sales and operating income for the nine and three months ended September 30, 2022 and 2021 by segment were as follows: Nine Months Ended September 30, (In millions) 2022 2021 % Change Net Sales Water Innovations $ 1,928.6 $ 2,057.6 ( 6.3 ) % Outdoors & Security 1,662.4 1,525.4 9.0 Cabinets 2,491.0 2,110.4 18.0 Net sales $ 6,082.0 $ 5,693.4 6.8 % Operating Income (Loss) Water Innovations $ 462.7 $ 483.3 ( 4.3 ) % Outdoors & Security 223.3 211.7 5.5 Cabinets 243.3 214.2 13.6 Less: Corporate expenses ( 110.6 ) ( 79.3 ) ( 39.5 ) Operating income $ 818.7 $ 829.9 ( 1.3 ) % Three Months Ended September 30, (In millions) 2022 2021 % Change Net Sales Water Innovations $ 635.1 $ 741.4 ( 14.3 ) % Outdoors & Security 560.4 528.4 6.1 Cabinets 858.2 716.5 19.8 Net sales $ 2,053.7 $ 1,986.3 3.4 % Operating Income (Loss) Water Innovations $ 152.7 $ 166.5 ( 8.3 ) % Outdoors & Security 70.6 80.4 ( 12.2 ) Cabinets 100.9 67.2 50.1 Less: Corporate expenses ( 43.0 ) ( 27.5 ) ( 56.4 ) Operating income $ 281.2 $ 286.6 ( 1.9 ) %

Restructuring and Other Charg_2

Restructuring and Other Charges (Tables)	9 Months Ended
	Sep. 30, 2022
Restructuring and Related Activities [Abstract]
Pre-tax Restructuring and Other Charges (gains)	Pre-tax restructuring and other charges (gains) for the nine and three months ended September 30, 2022 and 2021 are shown below. (In millions) Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 Restructuring Other (a) Total Restructuring Other (a) Total Water Innovations $ 3.8 $ 0.7 $ 4.5 $ - $ 2.8 $ 2.8 Outdoors & Security 18.9 ( 6.1 ) 12.8 8.5 ( 0.4 ) 8.1 Cabinets 10.9 6.3 17.2 3.0 3.5 6.5 Corporate ( 0.5 ) - ( 0.5 ) - - - Total $ 33.1 $ 0.9 $ 34.0 $ 11.5 $ 5.9 $ 17.4 (a) “Other Charges (Gains)” represent charges directly related to restructuring initiatives that cannot be reported as restructuring under GAAP. Such costs may include losses on disposal of inventories, trade receivables allowances from exiting product lines, accelerated depreciation resulting from the closure of facilities and gains or losses on the sale of previously closed facilities. (In millions) Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 Restructuring Other (a) Total Restructuring Other (a) Total Water Innovations $ 2.9 $ - $ 2.9 $ - $ 1.2 $ 1.2 Outdoors & Security 18.2 0.2 18.4 2.4 ( 0.4 ) 2.0 Cabinets 9.6 3.9 13.5 1.2 0.9 2.1 Corporate ( 0.5 ) - ( 0.5 ) - - - Total $ 30.2 $ 4.1 $ 34.3 $ 3.6 $ 1.7 $ 5.3 (a) “Other Charges (Gains)” represent charges directly related to restructuring initiatives that cannot be reported as restructuring under GAAP. Such costs may include losses on disposal of inventories, trade receivables allowances from exiting product lines, accelerated depreciation resulting from the closure of facilities and gains or losses on the sale of previously closed facilities.
Reconciliation of Restructuring Liability	Reconciliation of Restructuring Liability (In millions) Balance at 2022 Cash (a) Balance at Workforce reduction costs $ 4.7 $ 24.5 $ ( 7.1 ) $ 22.1 Other 1.0 8.6 ( 0.4 ) 9.2 Total $ 5.7 $ 33.1 $ ( 7.5 ) $ 31.3 (a) Cash expenditures primarily relate to severance charges. (In millions) Balance at 2021 Cash (a) Balance at Workforce reduction costs $ 6.9 $ 9.6 $ ( 11.2 ) $ 5.3 Other 0.7 1.9 ( 1.5 ) 1.1 Total $ 7.6 $ 11.5 $ ( 12.7 ) $ 6.4 (a) Cash expenditures primarily relate to severance charges.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Computations of Earnings (Loss) per Common Share	The computations of earnings per common share for the nine and three months ended September 30, 2022 and 2021were as follows: (In millions, except per share data) Nine Months Ended Three Months Ended 2022 2021 2022 2021 Net income $ 577.1 $ 597.1 $ 204.2 $ 202.1 Basic earnings per common share $ 4.40 $ 4.32 $ 1.58 $ 1.47 Diluted earnings per common share $ 4.37 $ 4.26 $ 1.57 $ 1.45 Basic average shares outstanding 131.0 138.3 129.3 137.8 Stock-based awards 1.0 1.9 0.8 1.9 Diluted average shares outstanding 132.0 140.2 130.1 139.7 Antidilutive stock-based awards excluded from weighted- 1.2 0.3 1.6 0.4

Basis of Presentation and Pri_2

Basis of Presentation and Principles of Consolidation - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended		9 Months Ended
	Jul. 31, 2022	Jan. 31, 2022	Sep. 30, 2022	Sep. 30, 2021	Jul. 29, 2022
Basis Of Presentation And Principles Of Consolidation [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired			$ 214	$ (5.2)
Aqualisa Holdings (International) Ltd. [Member]
Basis Of Presentation And Principles Of Consolidation [Line Items]
Business acquisition, percentage of outstanding equity interests acquired	100%
Payments to acquire businesses gross	$ 156
Payments to Acquire Businesses, Net of Cash Acquired	$ 4.8
Fair value allocated to assets acquired and liabilities assumed					$ 156
Solar Innovations LLC [Member]
Basis Of Presentation And Principles Of Consolidation [Line Items]
Business acquisition, percentage of outstanding equity interests acquired		100%
Payments to acquire businesses gross		$ 61.6
Payments to Acquire Businesses, Net of Cash Acquired		$ 4.8

Recently Issued Accounting St_2

Recently Issued Accounting Standards - Additional Information (Detail) - Accounting Standards Update 202110 [Member]	9 Months Ended
	Sep. 30, 2022
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Description	Disclosures by Business Entities About Government AssistanceIn November 2021, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2021-10, Government Assistance (Topic 832). The new guidance, codified in Accounting Standards Codification (“ASC”) 832, requires business entities that account for transactions with a government by applying a grant or contribution model by analogy to disclose information about government assistance recorded during the period. ASU 2021-10 is effective for all entities for annual reporting periods beginning after December 15, 2021. The adoption of this guidance did not have a material effect on our financial statements.
Change in accounting principle, accounting standards update, adoption date	Dec. 15, 2021
Change in accounting principle, accounting standards update, immaterial effect	true
Change in accounting principle, accounting standards update, adopted	true

Balance Sheet Information - Sup

Balance Sheet Information - Supplemental Information on Balance Sheets (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Inventories:
Raw materials and supplies	$ 619.9	$ 455.1
Work in process	110.6	93
Finished products	771.8	645.7
Total inventories	1,502.3	1,193.8
Property, plant and equipment, gross	2,438.8	2,278
Less: accumulated depreciation	1,341.1	1,268.5
Property, plant and equipment, net	$ 1,097.7	$ 1,009.5

Acquisitions and Dispositions -

Acquisitions and Dispositions - Additional Information (Detail) - USD ($) $ in Millions			1 Months Ended		3 Months Ended	9 Months Ended
	Jan. 30, 2022	Jan. 01, 2021	Jul. 31, 2022	Jan. 31, 2022	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Jul. 29, 2022
Business Acquisition [Line Items]
Business combination purchase price, excluding expected tax benefits, net of cash acquired						$ 214	$ (5.2)
Flo Technologies, Inc. [Member]
Business Acquisition [Line Items]
Substantive participating rights expiration date						Jan. 01, 2021
Fair value allocated to assets acquired and liabilities assumed		$ 87.8
Business combination purchase price, excluding expected tax benefits, net of cash acquired		9.7
Business acquisition, goodwill, expected tax non-deductible amount		$ 65.3
Final cash payment	$ 16.7
Flo Technologies, Inc. [Member] | Other (Income) Expense [Member]
Business Acquisition [Line Items]
Non cash gain (loss) on remeasurement of existing investment					$ 4.5
Solar Innovations [Member]
Business Acquisition [Line Items]
Payments to acquire businesses gross				$ 61.6
Fair value allocated to assets acquired and liabilities assumed				61.6
Business combination purchase price, excluding expected tax benefits, net of cash acquired				$ 4.8
Business acquisition, percentage of outstanding equity acquired				100%
Business acquisition, goodwill, expected tax non-deductible amount				$ 21
Aqualisa Holdings (International) Ltd. [Member]
Business Acquisition [Line Items]
Payments to acquire businesses gross			$ 156
Fair value allocated to assets acquired and liabilities assumed								$ 156
Business combination purchase price, excluding expected tax benefits, net of cash acquired			$ 4.8
Business acquisition, percentage of outstanding equity acquired			100%
Business acquisition, goodwill, expected tax non-deductible amount								$ 87.3

Goodwill and Identifiable Int_3

Goodwill and Identifiable Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2022	Dec. 31, 2021
Goodwill and Identifiable Intangible Assets [Line Items]
Goodwill	[1]	$ 2,546.2	$ 2,465.1
Net identifiable intangible assets		1,375.9	1,383.8
Increase in gross identifiable intangible assets		35
Tradename [Member]
Goodwill and Identifiable Intangible Assets [Line Items]
Estimated fair value of tradename		59
Cabinets [Member]
Goodwill and Identifiable Intangible Assets [Line Items]
Goodwill	[1]	924.3	$ 926.2
Tradename impairment charges		26
Cabinets [Member] | Tradename [Member]
Goodwill and Identifiable Intangible Assets [Line Items]
Impairment of intangible assets, trade names		$ 26
Tradenames and Customer Relationship [Member] | Minimum [Member]
Goodwill and Identifiable Intangible Assets [Line Items]
Amortizable identifiable intangible assets, estimated useful life		5 years
Tradenames and Customer Relationship [Member] | Maximum [Member]
Goodwill and Identifiable Intangible Assets [Line Items]
Amortizable identifiable intangible assets, estimated useful life		30 years
[1] Net of accumulated impairment losses of $ 399.5 million in the Outdoors & Security segment.

Goodwill and Identifiable Int_4

Goodwill and Identifiable Intangible Assets - Change in Net Carrying Amount of Goodwill by Segment (Detail) $ in Millions	9 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill [Line Items]
Beginning Balance	$ 2,465.1	[1]
Translation adjustments	(27.2)
Acquisition-related adjustments	108.3
Ending Balance	2,546.2	[1]
Water Innovations [Member]
Goodwill [Line Items]
Beginning Balance	814.1	[1]
Translation adjustments	(24.5)
Acquisition-related adjustments	87.3
Ending Balance	876.9	[1]
Outdoors & Security [Member]
Goodwill [Line Items]
Beginning Balance	724.8	[1]
Translation adjustments	(0.8)
Acquisition-related adjustments	21
Ending Balance	745	[1]
Cabinets [Member]
Goodwill [Line Items]
Beginning Balance	926.2	[1]
Translation adjustments	(1.9)
Acquisition-related adjustments	0
Ending Balance	$ 924.3	[1]
[1] Net of accumulated impairment losses of $ 399.5 million in the Outdoors & Security segment.

Goodwill and Identifiable Int_5

Goodwill and Identifiable Intangible Assets - Change in Net Carrying Amount of Goodwill by Segment (Parenthetical) (Detail) $ in Millions	Sep. 30, 2022 USD ($)
Outdoors & Security [Member]
Goodwill [Line Items]
Accumulated impairment losses	$ 399.5

Goodwill and Identifiable Int_6

Goodwill and Identifiable Intangible Assets - Gross Carrying Value and Accumulated Amortization by Class of Identifiable Intangible Assets (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Intangible Assets [Line Items]
Gross Carrying Amounts, Indefinite-lived tradenames	$ 681.5	$ 711.1
Net Book Value, Indefinite-lived tradenames	681.5	711.1
Gross Carrying Amounts, Finite Lived	1,209.8	1,145.2
Accumulated Amortization, Finite Lived	(515.4)	(472.5)
Net Book Value, Finite Lived	694.4	672.7
Gross Carrying Amounts, Total identifiable intangibles	1,891.3	1,856.3
Accumulated Amortization, Total identifiable intangibles	(515.4)	(472.5)
Net Book Value, Total identifiable intangibles	1,375.9	1,383.8
Tradenames [Member]
Intangible Assets [Line Items]
Gross Carrying Amounts, Finite Lived	54.3	36.4
Accumulated Amortization, Finite Lived	(16.4)	(15.5)
Net Book Value, Finite Lived	37.9	20.9
Customer and contractual relationships [Member]
Intangible Assets [Line Items]
Gross Carrying Amounts, Finite Lived	1,016.5	975.7
Accumulated Amortization, Finite Lived	(422)	(388.2)
Net Book Value, Finite Lived	594.5	587.5
Patents/proprietary technology [Member]
Intangible Assets [Line Items]
Gross Carrying Amounts, Finite Lived	139	133.1
Accumulated Amortization, Finite Lived	(77)	(68.8)
Net Book Value, Finite Lived	$ 62	$ 64.3

Goodwill and Identifiable Int_7

Goodwill and Identifiable Intangible Assets - Significant Assumptions Used to Estimate the Fair Values of Tradenames Impaired (Details) - Tradename [Member]	Sep. 30, 2022
Discount Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assumptions used to estimate the fair values	0.116
Royalty Rates [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assumptions used to estimate the fair values	0.03	[1]
Long-term Revenue Growth Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Assumptions used to estimate the fair values	0.01	[2]
[1] Represents estimated percentage of sales a market-participant would pay to license the impaired tradename. Selected long-term revenue growth rate within 10-year projection period of the impaired tradename.

External Debt and Financing A_3

External Debt and Financing Arrangements - Additional Information (Detail) - USD ($) $ in Millions		1 Months Ended		3 Months Ended
	Mar. 18, 2022	Aug. 31, 2022	Nov. 30, 2021	Mar. 31, 2022	Sep. 30, 2022	Mar. 25, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Principal Amount					$ 2,700
Aggregate outstanding notes					2,700
Uncommitted bank lines of credit, which provide for unsecured borrowings for working capital					20.5		$ 17.5
Uncommitted bank lines of credit, which provide for unsecured borrowings for working capital amount outstanding					1.4		0
Long-term Debt					2,672.6		1,789.8
2021 Term Loan [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 400
Principal Amount	$ 600
Debt Instrument, Description of Variable Rate Basis			interest rates under the 2021 Term Loan were variable based on SOFR at the time of the borrowing and the Company’s long-term credit rating and could range from SOFR + 0.725% to SOFR + 1.350%.
Commercial Paper [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity			$ 1,250
Long-term Debt					613.3		0
4.000% Senior Notes [Member]
Debt Instrument [Line Items]
Principal Amount					500
Long-term Debt					497.9		497.4
LIBOR [Member] | 2021 Term Loan [Member]
Debt Instrument [Line Items]
Principal Amount			400
SOFR [Member] | 2021 Term Loan [Member]
Debt Instrument [Line Items]
Principal Amount			$ 600
SOFR [Member] | 2021 Term Loan [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate over LIBOR			0.725%
SOFR [Member] | 2021 Term Loan [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate over LIBOR			1.35%
2022 Revolving Credit Agreement [Member] | 2021 Term Loan [Member]
Debt Instrument [Line Items]
Term loan, outstanding borrowings						$ 1,100
Senior Notes [Member]
Debt Instrument [Line Items]
Principal Amount				$ 900
Senior Notes [Member] | 4.000% Senior Notes [Member]
Debt Instrument [Line Items]
Principal Amount				$ 450
Unsecured Senior Notes, Interest rate				4%
Unsecured Senior notes, Maturity year				2032
Senior Notes [Member] | 4.500% Senior Notes [Member]
Debt Instrument [Line Items]
Principal Amount				$ 450
Unsecured Senior Notes, Interest rate				4.50%
Unsecured Senior notes, Maturity year				2052
2022 Revolving Credit Agreement [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity		$ 1,250
Term loan, outstanding borrowings					$ 100		$ 520
Debt instrument, covenant description		Under the 2022 Revolving Credit Agreement, the Company is required to maintain a minimum ratio of consolidated EBITDA to consolidated interest expense of 3.0 to 1.0. Consolidated EBITDA is defined as consolidated net income before interest expense, income taxes, depreciation, amortization of intangible assets, losses from asset impairments, and certain other one-time adjustments. In addition, the Company's ratio of consolidated debt minus certain cash and cash equivalents to consolidated EBITDA generally may not exceed 3.5 to 1.0.
Required minimum ratio of consolidated EBITDA to consolidated interest expense		3
Ratio of consolidated debt minus certain cash and cash equivalents to consolidated EBITDA		3.5
Debt Instrument, Description of Variable Rate Basis		Interest rates under the 2022 Revolving Credit Agreement are variable based on the Secured Overnight Financing Rate (“SOFR”) at the time of the borrowing and the Company’s long-term credit rating and can range from SOFR + 1.02% to SOFR + 1.525%.
Term loan maturity period		2027-08
2022 Revolving Credit Agreement [Member] | SOFR [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate over LIBOR		1.02%
2022 Revolving Credit Agreement [Member] | SOFR [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate over LIBOR		1.525%
Second Amended And Incremental Agreement Term Loan Twenty Twenty One [Member] | 2021 Term Loan [Member]
Debt Instrument [Line Items]
Principal Amount	$ 1,100

External Debt and Financing A_4

External Debt and Financing Arrangements - Summary of Outstanding Notes (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Principal Amount	$ 2,700
Net Carrying Value	2,672.6		$ 1,789.8
Senior Notes [Member]
Debt Instrument [Line Items]
Principal Amount		$ 900
4.000% Senior Notes [Member]
Debt Instrument [Line Items]
Principal Amount	$ 500
Issuance Date	2015-06
Maturity Date	2025-06
Net Carrying Value	$ 497.9		497.4
4.000% Senior Notes [Member] | 2018 Senior Notes [Member]
Debt Instrument [Line Items]
Principal Amount	$ 600
Issuance Date	2018-09
Maturity Date	2023-09
Net Carrying Value	$ 599		598.2
4.000% Senior Notes [Member] | 2022 Senior Notes [Member]
Debt Instrument [Line Items]
Principal Amount	$ 450
Issuance Date	2022-03
Maturity Date	2032-03
Net Carrying Value	$ 445.6		0
4.000% Senior Notes [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Principal Amount		450
3.250% Senior Notes [Member] | 2019 Senior Notes [Member]
Debt Instrument [Line Items]
Principal Amount	$ 700
Issuance Date	2019-09
Maturity Date	2029-09
Net Carrying Value	$ 694.8		$ 694.2
4.500% Senior Notes [Member] | 2022 Senior Notes [Member]
Debt Instrument [Line Items]
Principal Amount	$ 450
Issuance Date	2022-03
Maturity Date	2052-03
Net Carrying Value	$ 435.3
4.500% Senior Notes [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Principal Amount		$ 450

Financial Instruments - Additio

Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative [Line Items]
Notional amount of foreign currency derivative hedges	$ 600			$ 600
Value of terminated interest rate hedges		$ 600
Foreign Exchange Contracts [Member]
Derivative [Line Items]
Notional amount of foreign currency derivative hedges	553.7			553.7
Cash flow hedge [Member]
Derivative [Line Items]
Derivative instrument gain (loss)	126.4		$ 2.4	125.9	$ 1.8
Cash flow hedge [Member] | Foreign Exchange Contracts [Member]
Derivative [Line Items]
Estimated amount of net derivative gains in accumulated other comprehensive income reclassified to earnings within 12 months	$ 2.5			2.5
Total realized pre-tax gains				$ 39

Financial Instruments - Fair Va

Financial Instruments - Fair Values of Derivative Instruments (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	$ 98.3	$ 4.1
Derivative liabilities, fair value	18.5	1.5
Foreign Exchange Contracts [Member] | Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	9.5	4.1
Foreign Exchange Contracts [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities, fair value	10.9	1.4
Interest Rate Hedges [Member] | Other Noncurrent Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	88.8	0
Commodity Contracts [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liabilities, fair value	$ 7.6	$ 0.1

Financial Instruments - Effects

Financial Instruments - Effects of Derivative Financial Instruments on Consolidated Statements of Income (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income	$ 1.3	$ 0.9	$ 4.3	$ 0.2
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of Goods and Services Sold	Cost of Goods and Services Sold	Cost of Goods and Services Sold	Cost of Goods and Services Sold
Commodity Contracts [Member]
Derivatives, Fair Value [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income	$ (3.9)		$ (4.2)	$ 0.9
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Cost of Goods and Services Sold		Cost of Goods and Services Sold	Cost of Goods and Services Sold
Interest rate contracts [Member]
Derivatives, Fair Value [Line Items]
Amount of gain or (loss) reclassified from accumulated other comprehensive (loss) income into income	$ 1.1	$ 0.2	$ 2.5	$ 0.5
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Expense	Interest Expense	Interest Expense	Interest Expense
Cost of products sold [Member]
Derivatives, Fair Value [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 1,310.2	$ 1,280	$ 3,895.9	$ 3,637.2
Interest expense [Member]
Derivatives, Fair Value [Line Items]
Derivative, Gain (Loss) on Derivative, Net	33.1	20.6	85.4	63.2
Other income/expense, net [Member]
Derivatives, Fair Value [Line Items]
Derivative, Gain (Loss) on Derivative, Net	2.1	1.3	3.6	0.7
Other income/expense, net [Member] | Designated as hedging instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative, Gain (Loss) on Derivative, Net	16.5	3.1	21.6	(0.6)
Other income/expense, net [Member] | Foreign Exchange Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ (17.2)	$ (3.8)	$ (26.1)	$ (2.1)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	Sep. 30, 2022 USD ($)
Fair Value Disclosures [Abstract]
Assets or liabilities measured at fair value on recurring basis	$ 0

Fair Value Measurements - Carry

Fair Value Measurements - Carrying Value and Fair Value of Debt (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Carrying Value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Total Debt	$ 3,385.9	$ 2,709.8
Carrying Value [Member] | Senior Notes [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Total Debt	2,672.6	1,789.8
Carrying Value [Member] | 2022 Revolving Credit Agreement [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Total Debt	100	520
Carrying Value [Member] | Commercial Paper Borrowings [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Total Debt	613.3	0
Carrying Value [Member] | 2021 Term Loan [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Total Debt	0	400
Fair Value [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Total Debt	3,054.1	2,822.9
Fair Value [Member] | Senior Notes [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Total Debt	2,338.9	1,902.9
Fair Value [Member] | 2022 Revolving Credit Agreement [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Total Debt	100	520
Fair Value [Member] | Commercial Paper Borrowings [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Total Debt	615.2	0
Fair Value [Member] | 2021 Term Loan [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items]
Total Debt	$ 0	$ 400

Fair Value Measurements - Asset

Fair Value Measurements - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments (Level 2)	$ 98.3	$ 4.1
Fair Value, Measurements, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	117.1	23.9
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments (Level 2)	98.3	4.1
Deferred compensation program assets (Level 2)	18.8	19.8
Derivative financial instruments (Level 2)	$ 18.5	$ 1.5

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - After-Tax Components of and Changes in Accumulated Other Comprehensive (Loss) Income (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	$ 2,952.4	$ 3,043.5	$ 3,064.8	$ 2,775.5
Ending Balance	3,030.1	3,054.6	3,030.1	3,054.6
Foreign Currency Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(12.8)	25	3.3	7.2
Amounts classified into accumulated other comprehensive (loss) income	(54.4)	(14.9)	(70.5)	2.9
Amounts reclassified from accumulated other comprehensive (loss) income	0	0	0	0
Net current period other comprehensive (loss) income	(54.4)	(14.9)	(70.5)	2.9
Ending Balance	(67.2)	10.1	(67.2)	10.1
Derivative Hedging Gain (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	71.5	3.3	2.9	4.2
Amounts classified into accumulated other comprehensive (loss) income	24.9	1.7	97.3	1.4
Amounts reclassified from accumulated other comprehensive (loss) income	0.7	(1.2)	(3.1)	(1.8)
Net current period other comprehensive (loss) income	25.6	0.5	94.2	(0.4)
Ending Balance	97.1	3.8	97.1	3.8
Defined Benefit Plan Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	(30.9)	(66.7)	(30.8)	(66.5)
Amounts classified into accumulated other comprehensive (loss) income	(1.5)	(2.4)	(1.6)	(2.6)
Amounts reclassified from accumulated other comprehensive (loss) income	0.3	1.4	0.3	1.4
Net current period other comprehensive (loss) income	(1.2)	(1)	(1.3)	(1.2)
Ending Balance	(32.1)	(67.7)	(32.1)	(67.7)
Accumulated Other Comprehensive Loss [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Beginning Balance	27.8	(38.4)	(24.6)	(55.1)
Amounts classified into accumulated other comprehensive (loss) income	(31)	(15.6)	25.2	1.7
Amounts reclassified from accumulated other comprehensive (loss) income	1	0.2	(2.8)	(0.4)
Net current period other comprehensive (loss) income	(30)	(15.4)	22.4	1.3
Ending Balance	$ (2.2)	$ (53.8)	$ (2.2)	$ (53.8)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Reclassifications Out of Accumulated Other Comprehensive (Loss) Income (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of products sold	$ 1,310.2	$ 1,280	$ 3,895.9	$ 3,637.2
Interest expense	33.1	20.6	85.4	63.2
Recognition of actuarial losses			(0.4)	(1.1)
Income before taxes	250.2	267.3	736.9	766
Tax (expense) benefit	(46)	(65.2)	(159.8)	(168.9)
Income after tax	204.2	202.1	577.1	597.1
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income after tax	(1)	(0.2)	2.8	0.4
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] | Derivative Hedging Gain (Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before taxes	(1.5)	1.1	2.6	1.6
Tax (expense) benefit	0.8	0.1	0.5	0.2
Income after tax	(0.7)	1.2	3.1	1.8
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] | Derivative Hedging Gain (Loss) [Member] | Foreign Exchange Contract [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of products sold	1.3	0.9	4.3	0.2
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] | Derivative Hedging Gain (Loss) [Member] | Commodity Contracts [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of products sold	(3.9)	0	(4.2)	0.9
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] | Derivative Hedging Gain (Loss) [Member] | Interest rate contracts [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	1.1	0.2	2.5	0.5
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] | Defined Benefit Plan Adjustments [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Income before taxes	(0.4)	(1.1)	(0.4)	(1.1)
Tax (expense) benefit	0.1	(0.3)	0.1	(0.3)
Income after tax	(0.3)	(1.4)	(0.3)	(1.4)
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] | Defined Benefit Plan Adjustments [Member] | Other (Income) Expense [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Recognition of actuarial losses	$ (0.4)	$ (1.1)	$ (0.4)	$ (1.1)

Revenue - Disaggregation of Rev

Revenue - Disaggregation of Revenue (Detail) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Net sales		$ 2,053.7	$ 1,986.3	$ 6,082	$ 5,693.4
Wholesalers [Member]
Disaggregation of Revenue [Line Items]
Net sales	[1]	987.6	933.6	2,874.4	2,594.4
Home Center retailers [Member]
Disaggregation of Revenue [Line Items]
Net sales	[2]	580.6	524.9	1,787.5	1,642
Other retailers [Member]
Disaggregation of Revenue [Line Items]
Net sales	[3]	99.7	128.5	309.9	326.6
Builder direct [Member]
Disaggregation of Revenue [Line Items]
Net sales		88.1	65.7	248.1	194.8
United States [Member]
Disaggregation of Revenue [Line Items]
Net sales		1,756	1,652.7	5,219.9	4,757.8
International [Member]
Disaggregation of Revenue [Line Items]
Net sales	[4]	$ 297.7	$ 333.6	$ 862.1	$ 935.6
[1] Represents sales to customers whose business is oriented towards builders, professional trades and home remodelers, inclusive of sales through our customers’ respective internet website portals. Represents sales to the three largest “Do-It-Yourself” retailers; The Home Depot, Inc., Lowe's Companies, Inc. and Menards, Inc., inclusive of sales through their respective internet website portals. Represents sales principally to our mass merchant and standalone independent e-commerce customers. Represents sales in markets outside the United States, principally in Canada, China, Europe and Mexico.

Defined Benefit Plans - Compone

Defined Benefit Plans - Components of Net Periodic Benefit Income for Pension Benefits (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Defined Benefit Plan Disclosure [Line Items]
Recognition of actuarial losses			$ 0.4	$ 1.1
Net Periodic Benefit Cost [Member] | Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0.1	0.2	0.3
Interest cost	6.4	6	19.1	18
Expected return on plan assets	(8.9)	(8.7)	(26.6)	(26.2)
Recognition of actuarial losses	0.4	1.1	0.4	1.1
Net periodic benefit income	$ (2.1)	$ (1.5)	$ (6.9)	$ (6.8)

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	18.40%	24.40%	21.70%	22%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%		21%

Product Warranties - Activity R

Product Warranties - Activity Related to Product Warranty Liability (Detail) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Guarantees and Product Warranties [Abstract]
Reserve balance at the beginning of the year	$ 26.5	$ 24.5
Provision for warranties issued	35.1	26.5
Settlements made (in cash or in kind)	(32.1)	(25.5)
Acquisitions	1.1	0.3
Foreign translation adjustments	(0.5)	0.1
Reserve balance at end of year	$ 30.1	$ 25.9

Information on Business Segme_3

Information on Business Segments - Net Sales and Operating Income by Segment (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	$ 2,053.7	$ 1,986.3	$ 6,082	$ 5,693.4
Operating income	$ 281.2	286.6	$ 818.7	829.9
Net Sales, Percentage Change vs. Prior Year	3.40%		6.80%
Operating Income, Percentage Change vs. Prior Year	(1.90%)		(1.30%)
Corporate [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income	$ (43)	(27.5)	$ (110.6)	(79.3)
Operating Income, Percentage Change vs. Prior Year	(56.40%)		(39.50%)
Water Innovations [Member] | Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	$ 635.1	741.4	$ 1,928.6	2,057.6
Operating income	$ 152.7	166.5	$ 462.7	483.3
Net Sales, Percentage Change vs. Prior Year	(14.30%)		(6.30%)
Operating Income, Percentage Change vs. Prior Year	(8.30%)		(4.30%)
Outdoors & Security [Member] | Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	$ 560.4	528.4	$ 1,662.4	1,525.4
Operating income	$ 70.6	80.4	$ 223.3	211.7
Net Sales, Percentage Change vs. Prior Year	6.10%		9%
Operating Income, Percentage Change vs. Prior Year	(12.20%)		5.50%
Cabinets [Member] | Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	$ 858.2	716.5	$ 2,491	2,110.4
Operating income	$ 100.9	$ 67.2	$ 243.3	$ 214.2
Net Sales, Percentage Change vs. Prior Year	19.80%		18%
Operating Income, Percentage Change vs. Prior Year	50.10%		13.60%

Restructuring and Other Charg_3

Restructuring and Other Charges - Pre-tax Restructuring and Other Charges (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022		Sep. 30, 2021
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 30.2	$ 3.6	$ 33.1		$ 11.5
Other Charges	4.1	1.7	0.9	[1]	5.9	[1]
Total Charges	34.3	5.3	34		17.4
Operating Segments [Member] | Water Innovations [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	2.9	0	3.8		0
Other Charges	0	1.2	0.7	[1]	2.8	[1]
Total Charges	2.9	1.2	4.5		2.8
Operating Segments [Member] | Outdoors & Security [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	18.2	2.4	18.9		8.5
Other Charges	(0.2)	(0.4)	(6.1)	[1]	(0.4)	[1]
Total Charges	18.4	2	12.8		8.1
Operating Segments [Member] | Cabinets [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	9.6	1.2	10.9		3
Other Charges	3.9	0.9	6.3	[1]	3.5	[1]
Total Charges	13.5	2.1	17.2		6.5
Operating Segments [Member] | Corporate Segment [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(0.5)	0	(0.5)		0
Other Charges	0	0	0	[1]	0	[1]
Total Charges	$ (0.5)	$ 0	$ (0.5)		$ 0
[1] (a) “Other Charges (Gains)” represent charges directly related to restructuring initiatives that cannot be reported as restructuring under GAAP. Such costs may include losses on disposal of inventories, trade receivables allowances from exiting product lines, accelerated depreciation resulting from the closure of facilities and gains or losses on the sale of previously closed facilities.

Restructuring and Other Charg_4

Restructuring and Other Charges - Reconciliation of Restructuring Liability (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022		Sep. 30, 2021
Restructuring Cost and Reserve [Line Items]
Beginning Balance			$ 5.7		$ 7.6
Provision	$ 30.2	$ 3.6	33.1		11.5
Cash Expenditures			(7.5)	[1]	(12.7)	[2]
Ending Balance	31.3	6.4	31.3		6.4
Workforce Reduction Costs [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance			4.7		6.9
Provision			24.5		9.6
Cash Expenditures			(7.1)	[1]	(11.2)	[2]
Ending Balance	22.1	5.3	22.1		5.3
Other [Member]
Restructuring Cost and Reserve [Line Items]
Beginning Balance			1		0.7
Provision			8.6		1.9
Cash Expenditures			(0.4)	[1]	(1.5)	[2]
Ending Balance	$ 9.2	$ 1.1	$ 9.2		$ 1.1
[1] (a) Cash expenditures primarily relate to severance charges. (a) Cash expenditures primarily relate to severance charges.

Earnings Per Share - Computatio

Earnings Per Share - Computations of Earnings (Loss) per Common Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net income	$ 204.2	$ 202.1	$ 577.1	$ 597.1
Basic earnings per common share	$ 1.58	$ 1.47	$ 4.40	$ 4.32
Diluted earnings per common share	$ 1.57	$ 1.45	$ 4.37	$ 4.26
Basic average shares outstanding	129.3	137.8	131	138.3
Stock-based awards	0.8	1.9	1	1.9
Diluted average shares outstanding	130.1	139.7	132	140.2
Antidilutive stock-based awards excluded from weighted- average number of shares outstanding for diluted earnings per share	1.6	0.4	1.2	0.3