Equity (Tables) | 3 Months Ended |
Mar. 31, 2014 |
Stockholders' Equity Note [Abstract] | ' |
Reconciliation of Ordinary Shares | ' |
The reconciliation of Ordinary shares is as follows: |
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In millions | Total | | | | | | | | | | | | | | |
December 31, 2013 | 96 | | | | | | | | | | | | | | | |
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Shares issued under incentive plans, net | 0.3 | | | | | | | | | | | | | | | |
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March 31, 2014 | 96.3 | | | | | | | | | | | | | | | |
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Components Of Shareholders Equity Rollforward | ' |
The components of Equity for the three months ended March 31, 2014 were as follows: |
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In millions | Allegion plc | | Noncontrolling | | Total | | | | | |
shareholders’ | interests | equity | | | | | |
equity | | | | | | | |
Balance at December 31, 2013 | $ | (86.8 | ) | | $ | 31.1 | | | $ | (55.7 | ) | | | | | |
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Net earnings | 35.6 | | | 1.8 | | | 37.4 | | | | | | |
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Currency translation | (12.1 | ) | | (0.8 | ) | | (12.9 | ) | | | | | |
Change in value of marketable securities and derivatives qualifying as cash flow hedges, net of tax | (0.4 | ) | | — | | | (0.4 | ) | | | | | |
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Pension and OPEB adjustments, net of tax | (0.7 | ) | | — | | | (0.7 | ) | | | | | |
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Total comprehensive income | 22.4 | | | 1 | | | 23.4 | | | | | | |
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Share-based compensation | 3.4 | | | — | | | 3.4 | | | | | | |
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Dividends to ordinary shareholders | (7.7 | ) | | — | | | (7.7 | ) | | | | | |
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Shares issued under incentive plans, net | 11.8 | | | — | | | 11.8 | | | | | | |
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Other | (3.5 | ) | | — | | | (3.5 | ) | | | | | |
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Balance at March 31, 2014 | $ | (60.4 | ) | | $ | 32.1 | | | $ | (28.3 | ) | | | | | |
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The components of Equity for the three months ended March 31, 2013 were as follows: |
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In millions | Allegion plc | | Noncontrolling | | Total | | | | | |
shareholders’ | interests | equity | | | | | |
equity | | | | | | | |
Balance at December 31, 2012 | $ | 1,343.20 | | | $ | 23 | | | $ | 1,366.20 | | | | | | |
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Net earnings | 39.4 | | | 1.6 | | | 41 | | | | | | |
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Currency translation | (26.5 | ) | | 0.4 | | | (26.1 | ) | | | | | |
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Change in value of marketable securities and derivatives qualifying as cash flow hedges, net of tax | 2.2 | | | — | | | 2.2 | | | | | | |
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Pension and OPEB adjustments, net of tax | 5.1 | | | — | | | 5.1 | | | | | | |
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Total comprehensive income | 20.2 | | | 2 | | | 22.2 | | | | | | |
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Dividends to noncontrolling interests | — | | | (2.8 | ) | | (2.8 | ) | | | | | |
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Distribution/contribution to/from Parent Company | 19.3 | | | — | | | 19.3 | | | | | | |
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Balance at March 31, 2013 | $ | 1,382.70 | | | $ | 22.2 | | | $ | 1,404.90 | | | | | | |
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Schedule of Accumulated Other Comprehensive Income (Loss) | ' |
The changes in Accumulated other comprehensive income (loss) for the three months ended March 31, 2014 are as follows: |
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In millions | | Cash flow hedges and marketable securities | | Pension and OPEB Items | | Foreign Currency Items | | Total |
December 31, 2013 | | $ | 16.7 | | | $ | (131.3 | ) | | $ | 18 | | | $ | (96.6 | ) |
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Other comprehensive income before reclassifications | | 0.1 | | | — | | | (12.1 | ) | | (12.0 | ) |
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Amounts reclassified from accumulated other comprehensive income | | (0.4 | ) | | (0.7 | ) | | — | | | (1.1 | ) |
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Tax (expense) benefit | | (0.1 | ) | | — | | | — | | | (0.1 | ) |
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March 31, 2014 | | $ | 16.3 | | | $ | (132.0 | ) | | $ | 5.9 | | | $ | (109.8 | ) |
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The changes in Accumulated other comprehensive income (loss) for the three months ended March 31, 2013 are as follows: |
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In millions | | Cash flow hedges and marketable securities | | Pension and OPEB Items | | Foreign Currency Items | | Total |
December 31, 2012 | | $ | 10.9 | | | $ | (95.7 | ) | | $ | 77.1 | | | $ | (7.7 | ) |
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Other comprehensive income before reclassifications | | 2.4 | | | 4.1 | | | (26.5 | ) | | (20.0 | ) |
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Amounts reclassified from accumulated other comprehensive income | | (0.2 | ) | | 1 | | | — | | | 0.8 | |
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Tax (expense) benefit | | — | | | — | | | — | | | — | |
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March 31, 2013 | | $ | 13.1 | | | $ | (90.6 | ) | | $ | 50.6 | | | $ | (26.9 | ) |
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Disclosure of Reclassification Amount | ' |
The reclassifications out of Accumulated other comprehensive income (loss) for the three months ended March 31, 2014 were as follows: |
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| | Amount Reclassified from Accumulated Other Comprehensive Income | | | | | | | | | | | | |
In millions | | 2014 | | Statement of Comprehensive Income Line Item | | | | | | | | | | |
Reclasses below represent (Income) loss to the Statement of Comprehensive Income | | | | | | | | | | |
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Gains and losses on cash flow hedges: | | | | | | | | | | | | | | |
Foreign exchange contracts | | $ | (0.4 | ) | | Cost of goods sold | | | | | | | | | | |
| | (0.4 | ) | | Earnings before income taxes | | | | | | | | | | |
| | — | | | Provision for income taxes | | | | | | | | | | |
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| | $ | (0.4 | ) | | Earnings from continuing operations | | | | | | | | | | |
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Defined benefit pension items: | | | | | | | | | | | | | | |
Amortization of: | | | | | | | | | | | | | | |
Actuarial (gains) losses | | $ | (0.7 | ) | | (a) | | | | | | | | | | |
Settlements/curtailments reclassified to earnings | | — | | | (a) | | | | | | | | | | |
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| | (0.7 | ) | | Earnings before income taxes | | | | | | | | | | |
| | — | | | Provision for income taxes | | | | | | | | | | |
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| | (0.7 | ) | | Earnings from continuing operations | | | | | | | | | | |
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Total reclassifications for the period | | $ | (1.1 | ) | | Earnings from continuing operations | | | | | | | | | | |
(a) These accumulated other comprehensive income components are included in the computation of net periodic pension cost and net periodic postretirement benefit cost (see Note 9 for additional details). |
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The reclassifications out of Accumulated other comprehensive income (loss) for the three months ended March 31, 2013 were as follows: |
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| | Amount Reclassified from Accumulated Other Comprehensive Income | | | | | | | | | | | | |
In millions | | 2013 | | Statement of Comprehensive Income Line Item | | | | | | | | | | |
Reclasses below represent (Income) loss to the Statement of Comprehensive Income | | | | | | | | | | |
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Gains and losses on cash flow hedges: | | | | | | | | | | | | | | |
Foreign exchange contracts | | $ | (0.2 | ) | | Cost of goods sold | | | | | | | | | | |
| | (0.2 | ) | | Earnings before income taxes | | | | | | | | | | |
| | — | | | Provision for income taxes | | | | | | | | | | |
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| | $ | (0.2 | ) | | Earnings from continuing operations | | | | | | | | | | |
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Defined benefit pension items: | | | | | | | | | | | | | | |
Amortization of: | | | | | | | | | | | | | | |
Prior-service (gains) costs | | $ | (0.5 | ) | | (a) | | | | | | | | | | |
Actuarial (gains) losses | | 1.5 | | | (a) | | | | | | | | | | |
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| | 1 | | | Earnings before income taxes | | | | | | | | | | |
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| | — | | | Provision for income taxes | | | | | | | | | | |
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| | 1 | | | Earnings from continuing operations | | | | | | | | | | |
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Total reclassifications for the period | | $ | 0.8 | | | Earnings from continuing operations | | | | | | | | | | |
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(a) These accumulated other comprehensive income components are included in the computation of net periodic pension cost and net periodic postretirement benefit cost (see Note 9 for additional details). |