Guarantor Financial Information (Notes) | 9 Months Ended |
Sep. 30, 2014 |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | ' |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | ' |
Guarantor Financial Information |
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Allegion US Holding Company, Inc. (the “Issuer”) as the issuer of the Senior Notes and Allegion plc (the “Parent”), Schlage Lock Company LLC and Von Duprin LLC (together, the “Subsidiary Guarantors”) are all guarantors of the Senior Notes. The following condensed and consolidated financial information of the Parent, the Issuer, the Subsidiary Guarantors and the other Allegion subsidiaries that are not guarantors (the “Other Subsidiaries”) on a combined basis as of September 30, 2014 and for the three and nine months ended September 30, 2014 and 2013, is being presented in order to meet the reporting requirements under the Senior Notes indenture and Rule 3-10 of Regulation S-X. In accordance with Rule 3-10(d) of Regulation S-X, separate financial statements for the Issuer, the Parent and the Subsidiary Guarantors are not required to be filed with the SEC as the subsidiary debt issuer and the guarantors are directly or indirectly 100% owned by the Parent and the guarantees are full and unconditional and joint and several. |
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The Company revised its Condensed and Consolidated Statement of Cash Flows for the nine months ended September 30, 2014 to correct for an immaterial error. The revision was made to reclassify $23.7 million of Intercompany dividends paid in the second quarter of 2014 by a Subsidiary Guarantor from net cash provided by continuing operating activities to net cash used in financing activities. The Company will present the revised Condensed and Consolidated Statement of Cash Flows for the six months ended June 30, 2014 as part of its Form 10-Q that will be filed for the six months ended June 30, 2015. The revision did not impact the net decrease in cash and cash equivalents for the Issuer, Parent, Other Subsidiaries or Allegion plc and solely impacted the second quarter 2014 financial reporting. |
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Condensed and Consolidated Statement of Comprehensive Income |
For the three months ended September 30, 2014 |
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In millions | Parent | | Issuer | | Subsidiary Guarantors | | Other | | Consolidating | | Allegion plc |
Subsidiaries | Adjustments |
Net revenues | $ | — | | | $ | — | | | $ | 375.5 | | | $ | 222.6 | | | $ | (51.4 | ) | | $ | 546.7 | |
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Cost of goods sold | — | | | — | | | 214.4 | | | 147.6 | | | (51.4 | ) | | 310.6 | |
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Selling and administrative expenses | 1.4 | | | — | | | 77.1 | | | 52 | | | — | | | 130.5 | |
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Operating income (loss) | (1.4 | ) | | — | | | 84 | | | 23 | | | — | | | 105.6 | |
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Equity earnings (loss) in affiliates, net of tax | 62.3 | | | 80.6 | | | 3.8 | | | 100.1 | | | (246.8 | ) | | — | |
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Interest expense | — | | | 12.7 | | | — | | | — | | | — | | | 12.7 | |
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Intercompany interest and fees | — | | | 12.7 | | | (75.4 | ) | | 62.7 | | | — | | | — | |
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Other (gain) loss, net | — | | | — | | | (0.2 | ) | | (1.8 | ) | | — | | | (2.0 | ) |
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Earnings (loss) before income taxes | 60.9 | | | 55.2 | | | 163.4 | | | 62.2 | | | (246.8 | ) | | 94.9 | |
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Provision (benefit) for income taxes | 0.3 | | | 9.5 | | | 59.5 | | | (42.1 | ) | | — | | | 27.2 | |
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Earnings (loss) from continuing operations | 60.6 | | | 45.7 | | | 103.9 | | | 104.3 | | | (246.8 | ) | | 67.7 | |
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Discontinued operations, net of tax | — | | | — | | | — | | | (2.1 | ) | | — | | | (2.1 | ) |
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Net earnings (loss) | 60.6 | | | 45.7 | | | 103.9 | | | 102.2 | | | (246.8 | ) | | 65.6 | |
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Less: Net earnings attributable to noncontrolling interests | — | | | — | | | — | | | 5.3 | | | — | | | 5.3 | |
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Net earnings (loss) attributable to Allegion plc | $ | 60.6 | | | $ | 45.7 | | | $ | 103.9 | | | $ | 96.9 | | | $ | (246.8 | ) | | $ | 60.3 | |
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Total comprehensive income (loss) | $ | 40.5 | | | $ | 45.7 | | | $ | 103.9 | | | $ | 97.2 | | | $ | (246.8 | ) | | $ | 40.5 | |
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Less: Total comprehensive income attributable to noncontrolling interests | — | | | — | | | — | | | 5.7 | | | — | | | 5.7 | |
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Total comprehensive income (loss) attributable to Allegion plc | $ | 40.5 | | | $ | 45.7 | | | $ | 103.9 | | | $ | 91.5 | | | $ | (246.8 | ) | | $ | 34.8 | |
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Condensed and Consolidated Statement of Comprehensive Income |
For the nine months ended September 30, 2014 |
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In millions | Parent | | Issuer | | Subsidiary Guarantors | | Other | | Consolidating | | Allegion plc |
Subsidiaries | Adjustments |
Net revenues | $ | — | | | $ | — | | | $ | 1,054.20 | | | $ | 637.9 | | | $ | (147.3 | ) | | $ | 1,544.80 | |
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Cost of goods sold | — | | | — | | | 602.7 | | | 435.2 | | | (147.3 | ) | | 890.6 | |
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Selling and administrative expenses | 3.4 | | | — | | | 220.9 | | | 167.2 | | | — | | | 391.5 | |
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Operating income (loss) | (3.4 | ) | | — | | | 230.6 | | | 35.5 | | | — | | | 262.7 | |
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Equity earnings (loss) in affiliates, net of tax | 142.8 | | | 156.3 | | | 6.2 | | | 286.7 | | | (592.0 | ) | | — | |
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Interest expense | — | | | 37.4 | | | — | | | 0.9 | | | — | | | 38.3 | |
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Intercompany interest and fees | — | | | 37.6 | | | (226.6 | ) | | 189 | | | — | | | — | |
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Other (gain) loss, net | — | | | — | | | (0.1 | ) | | (3.0 | ) | | — | | | (3.1 | ) |
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Earnings (loss) before income taxes | 139.4 | | | 81.3 | | | 463.5 | | | 135.3 | | | (592.0 | ) | | 227.5 | |
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Provision (benefit) for income taxes | — | | | (28.1 | ) | | 170.6 | | | (75.9 | ) | | — | | | 66.6 | |
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Earnings (loss) from continuing operations | 139.4 | | | 109.4 | | | 292.9 | | | 211.2 | | | (592.0 | ) | | 160.9 | |
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Discontinued operations, net of tax | — | | | — | | | — | | | (10.9 | ) | | — | | | (10.9 | ) |
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Net earnings (loss) | 139.4 | | | 109.4 | | | 292.9 | | | 200.3 | | | (592.0 | ) | | 150 | |
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Less: Net earnings attributable to noncontrolling interests | — | | | — | | | — | | | 10.6 | | | — | | | 10.6 | |
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Net earnings (loss) attributable to Allegion plc | $ | 139.4 | | | $ | 109.4 | | | $ | 292.9 | | | $ | 189.7 | | | $ | (592.0 | ) | | $ | 139.4 | |
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Total comprehensive income (loss) | $ | 106.5 | | | $ | 109.4 | | | $ | 292.9 | | | $ | 199.8 | | | $ | (592.0 | ) | | $ | 116.6 | |
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Less: Total comprehensive income attributable to noncontrolling interests | — | | | — | | | — | | | 10.1 | | | — | | | 10.1 | |
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Total comprehensive income (loss) attributable to Allegion plc | $ | 106.5 | | | $ | 109.4 | | | $ | 292.9 | | | $ | 189.7 | | | $ | (592.0 | ) | | $ | 106.5 | |
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Condensed and Consolidated Statement of Comprehensive Income |
For the three months ended September 30, 2013 |
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In millions | Parent | | Issuer | | Subsidiary Guarantors | | Other | | Consolidating | | Allegion plc |
Subsidiaries | Adjustments |
Net revenues | $ | — | | | $ | — | | | $ | 363.8 | | | $ | 219.4 | | | $ | (54.2 | ) | | $ | 529 | |
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Cost of goods sold | — | | | — | | | 206.6 | | | 138.2 | | | (54.2 | ) | | 290.6 | |
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Selling and administrative expenses | — | | | — | | | 56.1 | | | 66.1 | | | — | | | 122.2 | |
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Goodwill impairment charge | — | | | — | | | — | | | 137.6 | | | — | | | 137.6 | |
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Operating income (loss) | — | | | — | | | 101.1 | | | (122.5 | ) | | — | | | (21.4 | ) |
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Equity earnings (loss) in affiliates, net of tax | (78.2 | ) | | (11.8 | ) | | 0.7 | | | 62.4 | | | 26.9 | | | — | |
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Interest expense | — | | | — | | | — | | | 0.5 | | | — | | | 0.5 | |
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Other (gain) loss, net | — | | | — | | | 1.1 | | | (0.9 | ) | | — | | | 0.2 | |
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Earnings (loss) before income taxes | (78.2 | ) | | (11.8 | ) | | 100.7 | | | (59.7 | ) | | 26.9 | | | (22.1 | ) |
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Provision (benefit) for income taxes | — | | | — | | | 37.5 | | | 8 | | | — | | | 45.5 | |
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Earnings (loss) from continuing operations | (78.2 | ) | | (11.8 | ) | | 63.2 | | | (67.7 | ) | | 26.9 | | | (67.6 | ) |
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Discontinued operations, net of tax | — | | | — | | | (0.1 | ) | | (0.3 | ) | | — | | | (0.4 | ) |
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Net earnings (loss) | (78.2 | ) | | (11.8 | ) | | 63.1 | | | (68.0 | ) | | 26.9 | | | (68.0 | ) |
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Less: Net earnings attributable to noncontrolling interests | — | | | — | | | — | | | 10.1 | | | — | | | 10.1 | |
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Net earnings (loss) attributable to Allegion plc | $ | (78.2 | ) | | $ | (11.8 | ) | | $ | 63.1 | | | $ | (78.1 | ) | | $ | 26.9 | | | $ | (78.1 | ) |
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Total comprehensive income (loss) | $ | (107.3 | ) | | $ | (11.8 | ) | | $ | 63.1 | | | $ | (78.1 | ) | | $ | 26.9 | | | $ | (107.2 | ) |
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Less: Total comprehensive income attributable to noncontrolling interests | — | | | — | | | — | | | 10.3 | | | — | | | 10.3 | |
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Total comprehensive income (loss) attributable to Allegion plc | $ | (107.3 | ) | | $ | (11.8 | ) | | $ | 63.1 | | | $ | (88.4 | ) | | $ | 26.9 | | | $ | (117.5 | ) |
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Condensed and Consolidated Statement of Comprehensive Income |
For the nine months ended September 30, 2013 |
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In millions | Parent | | Issuer | | Subsidiary Guarantors | | Other | | Consolidating | | Allegion plc |
Subsidiaries | Adjustments |
Net revenues | $ | — | | | $ | — | | | $ | 1,033.60 | | | $ | 649.5 | | | $ | (157.2 | ) | | $ | 1,525.90 | |
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Cost of goods sold | — | | | — | | | 584.4 | | | 455.8 | | | (157.2 | ) | | 883 | |
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Selling and administrative expenses | — | | | — | | | 160.6 | | | 196.6 | | | — | | | 357.2 | |
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Goodwill impairment charge | — | | | — | | | — | | | 137.6 | | | — | | | 137.6 | |
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Operating income (loss) | — | | | — | | | 288.6 | | | (140.5 | ) | | — | | | 148.1 | |
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Equity earnings (loss) in affiliates, net of tax | 21.5 | | | 125.3 | | | 2.2 | | | 180.2 | | | (329.2 | ) | | — | |
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Interest expense | — | | | — | | | 0.1 | | | 1.3 | | | — | | | 1.4 | |
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Other (gain) loss, net | — | | | — | | | 0.4 | | | 6.5 | | | — | | | 6.9 | |
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Earnings (loss) before income taxes | 21.5 | | | 125.3 | | | 290.3 | | | 31.9 | | | (329.2 | ) | | 139.8 | |
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Provision (benefit) for income taxes | — | | | — | | | 108.1 | | | (5.7 | ) | | — | | | 102.4 | |
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Earnings (loss) from continuing operations | 21.5 | | | 125.3 | | | 182.2 | | | 37.6 | | | (329.2 | ) | | 37.4 | |
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Discontinued operations, net of tax | — | | | — | | | 0.2 | | | (2.1 | ) | | — | | | (1.9 | ) |
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Net earnings (loss) | 21.5 | | | 125.3 | | | 182.4 | | | 35.5 | | | (329.2 | ) | | 35.5 | |
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Less: Net earnings attributable to noncontrolling interests | — | | | — | | | — | | | 13.9 | | | — | | | 13.9 | |
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Net earnings (loss) attributable to Allegion plc | $ | 21.5 | | | $ | 125.3 | | | $ | 182.4 | | | $ | 21.6 | | | $ | (329.2 | ) | | $ | 21.6 | |
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Total comprehensive income (loss) | $ | (12.3 | ) | | $ | 125.3 | | | $ | 182.4 | | | $ | 21.5 | | | $ | (329.2 | ) | | $ | (12.3 | ) |
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Less: Total comprehensive income attributable to noncontrolling interests | — | | | — | | | — | | | 14.8 | | | — | | | 14.8 | |
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Total comprehensive income (loss) attributable to Allegion plc | $ | (12.3 | ) | | $ | 125.3 | | | $ | 182.4 | | | $ | 6.7 | | | $ | (329.2 | ) | | $ | (27.1 | ) |
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Condensed and Consolidated Balance Sheet |
September 30, 2014 |
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In millions | Parent | | Issuer | | Subsidiary Guarantors | | Other | | Consolidating | | Allegion plc |
Subsidiaries | Adjustments |
Current assets: | | | | | | | | | | | |
Cash and cash equivalents | $ | 1.2 | | | $ | — | | | $ | 119.1 | | | $ | 131.1 | | | $ | — | | | $ | 251.4 | |
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Accounts and notes receivable, net | — | | | — | | | 133.5 | | | 153.8 | | | — | | | 287.3 | |
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Inventories | — | | | — | | | 69.6 | | | 111.1 | | | — | | | 180.7 | |
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Other current assets | 0.2 | | | 28.1 | | | 23.3 | | | 163 | | | — | | | 214.6 | |
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Accounts and notes receivable affiliates | — | | | 1,289.00 | | | 3,140.70 | | | 280 | | | (4,709.7 | ) | | — | |
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Total current assets | 1.4 | | | 1,317.10 | | | 3,486.20 | | | 839 | | | (4,709.7 | ) | | 934 | |
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Investment in affiliates | — | | | 1,435.90 | | | 88.7 | | | 4,510.20 | | | (6,034.8 | ) | | — | |
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Property, plant and equipment, net | — | | | — | | | 147.1 | | | 65.4 | | | — | | | 212.5 | |
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Intangible assets, net | — | | | — | | | 161.1 | | | 481.9 | | | — | | | 643 | |
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Notes receivable affiliates | — | | | — | | | 1,049.00 | | | 800 | | | (1,849.0 | ) | | — | |
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Other noncurrent assets | — | | | 88.4 | | | 76 | | | 38.3 | | | — | | | 202.7 | |
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Total assets | $ | 1.4 | | | $ | 2,841.40 | | | $ | 5,008.10 | | | $ | 6,734.80 | | | $ | (12,593.5 | ) | | $ | 1,992.20 | |
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Current liabilities: | | | | | | | | | | | |
Accounts payable and accruals | $ | 1.2 | | | $ | 21.9 | | | $ | 329 | | | $ | 81.8 | | | $ | — | | | $ | 433.9 | |
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Short-term borrowings and current maturities of long-term debt | — | | | 30 | | | 0.1 | | | 0.2 | | | — | | | 30.3 | |
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Accounts and note payable affiliates | 0.1 | | | 186.5 | | | 247.2 | | | 4,275.90 | | | (4,709.7 | ) | | — | |
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Total current liabilities | 1.3 | | | 238.4 | | | 576.3 | | | 4,357.90 | | | (4,709.7 | ) | | 464.2 | |
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Long-term debt | — | | | 1,247.50 | | | 0.1 | | | 1.6 | | | — | | | 1,249.20 | |
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Note payable affiliate | — | | | 1,810.90 | | | — | | | 38 | | | (1,848.9 | ) | | — | |
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Estimated loss on investment | 30.9 | | | — | | | — | | | — | | | (30.9 | ) | | — | |
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Other noncurrent liabilities | (0.1 | ) | | 104 | | | 147.6 | | | 21.3 | | | — | | | 272.8 | |
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Total liabilities | 32.1 | | | 3,400.80 | | | 724 | | | 4,418.80 | | | (6,589.5 | ) | | 1,986.20 | |
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Equity: | | | | | | | | | | | |
Total shareholders equity (deficit) | (30.7 | ) | | (559.4 | ) | | 4,284.10 | | | 2,279.30 | | | (6,004.0 | ) | | (30.7 | ) |
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Noncontrolling interests | — | | | — | | | — | | | 36.7 | | | — | | | 36.7 | |
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Total equity (deficit) | (30.7 | ) | | (559.4 | ) | | 4,284.10 | | | 2,316.00 | | | (6,004.0 | ) | | 6 | |
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Total liabilities and equity | $ | 1.4 | | | $ | 2,841.40 | | | $ | 5,008.10 | | | $ | 6,734.80 | | | $ | (12,593.5 | ) | | $ | 1,992.20 | |
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Condensed and Consolidated Balance Sheet |
December 31, 2013 |
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In millions | Parent | | Issuer | | Subsidiary Guarantors | | Other | | Consolidating | | Allegion plc |
Subsidiaries | Adjustments |
Current assets: | | | | | | | | | | | |
Cash and cash equivalents | $ | 1.4 | | | $ | — | | | $ | 78.8 | | | $ | 147.2 | | | $ | — | | | $ | 227.4 | |
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Restricted cash | — | | | — | | | — | | | 40.2 | | | — | | | 40.2 | |
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Accounts and notes receivable, net | — | | | — | | | 110.2 | | | 149.8 | | | — | | | 260 | |
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Inventories | — | | | — | | | 64.3 | | | 89.3 | | | — | | | 153.6 | |
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Other current assets | 0.1 | | | — | | | 31.5 | | | 202 | | | — | | | 233.6 | |
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Assets held for sale | — | | | — | | | — | | | 11.2 | | | — | | | 11.2 | |
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Accounts receivable affiliates | 0.4 | | | 24.7 | | | 75.1 | | | 185.8 | | | (286.0 | ) | | — | |
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Total current assets | 1.9 | | | 24.7 | | | 359.9 | | | 825.5 | | | (286.0 | ) | | 926 | |
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Investment in affiliates | — | | | 1,236.10 | | | 84.9 | | | 4,023.20 | | | (5,344.2 | ) | | — | |
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Property, plant and equipment, net | — | | | — | | | 130.9 | | | 69.3 | | | — | | | 200.2 | |
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Intangible assets, net | — | | | — | | | 161.2 | | | 489.8 | | | — | | | 651 | |
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Notes receivable affiliates | — | | | 1,191.90 | | | 3,726.40 | | | 800 | | | (5,718.3 | ) | | — | |
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Other noncurrent assets | — | | | 93.3 | | | 72.3 | | | 37.1 | | | — | | | 202.7 | |
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Total assets | $ | 1.9 | | | $ | 2,546.00 | | | $ | 4,535.60 | | | $ | 6,244.90 | | | $ | (11,348.5 | ) | | $ | 1,979.90 | |
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Current liabilities: | | | | | | | | | | | |
Accounts payable and accruals | $ | 1.3 | | | $ | 14 | | | $ | 175.6 | | | $ | 227.7 | | | $ | — | | | $ | 418.6 | |
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Short-term borrowings and current maturities of long-term debt | — | | | 30 | | | 0.1 | | | 41.8 | | | — | | | 71.9 | |
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Accounts and note payable affiliates | 0.2 | | | 23.3 | | | 189.6 | | | 72.9 | | | (286.0 | ) | | — | |
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Total current liabilities | 1.5 | | | 67.3 | | | 365.3 | | | 342.4 | | | (286.0 | ) | | 490.5 | |
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Long-term debt | — | | | 1,270.00 | | | 0.2 | | | 1.8 | | | — | | | 1,272.00 | |
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Note payable affiliate | — | | | 1,810.90 | | | — | | | 3,907.40 | | | (5,718.3 | ) | | — | |
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Estimated loss on investment | 87.2 | | | — | | | — | | | — | | | (87.2 | ) | | — | |
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Other noncurrent liabilities | — | | | 58.5 | | | 61.9 | | | 152.7 | | | — | | | 273.1 | |
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Total liabilities | 88.7 | | | 3,206.70 | | | 427.4 | | | 4,404.30 | | | (6,091.5 | ) | | 2,035.60 | |
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Equity: | | | | | | | | | | | |
Total shareholders equity (deficit) | (86.8 | ) | | (660.7 | ) | | 4,108.20 | | | 1,809.50 | | | (5,257.0 | ) | | (86.8 | ) |
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Noncontrolling interests | — | | | — | | | — | | | 31.1 | | | — | | | 31.1 | |
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Total equity (deficit) | (86.8 | ) | | (660.7 | ) | | 4,108.20 | | | 1,840.60 | | | (5,257.0 | ) | | (55.7 | ) |
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Total liabilities and equity | $ | 1.9 | | | $ | 2,546.00 | | | $ | 4,535.60 | | | $ | 6,244.90 | | | $ | (11,348.5 | ) | | $ | 1,979.90 | |
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Condensed and Consolidated Statement of Cash Flows |
For the nine months ended September 30, 2014 |
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In millions | Parent | | Issuer | | Subsidiary Guarantors | | Other | | Consolidating | | Allegion plc |
Subsidiaries | Adjustments |
Net cash provided by (used in) continuing operating activities | $ | 56.2 | | | $ | (13.2 | ) | | $ | 81.9 | | | $ | 135.1 | | | $ | (85.2 | ) | | $ | 174.8 | |
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Net cash provided by (used in) discontinued operating activities | — | | | — | | | — | | | (2.8 | ) | | — | | | (2.8 | ) |
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Net cash provided by (used in) operating activities | 56.2 | | | (13.2 | ) | | 81.9 | | | 132.3 | | | (85.2 | ) | | 172 | |
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Cash flows from investing activities: | | | | | | | | | | | |
Capital expenditures | — | | | — | | | (32.9 | ) | | (6.9 | ) | | — | | | (39.8 | ) |
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Acquisition of businesses, net of cash acquired | — | | | — | | | — | | | (23.0 | ) | | — | | | (23.0 | ) |
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Other investing activities, net | — | | | — | | | 0.6 | | | 41.3 | | | — | | | 41.9 | |
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Net cash provided by (used in) investing activities | — | | | — | | | (32.3 | ) | | 11.4 | | | — | | | (20.9 | ) |
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Cash flows from financing activities: | | | | | | | | | | | |
Net debt repayments | — | | | (22.5 | ) | | — | | | (40.6 | ) | | — | | | (63.1 | ) |
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Net inter-company proceeds (payments) | — | | | 35.7 | | | 14.4 | | | (50.1 | ) | | — | | | — | |
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Dividends paid to shareholders | (22.6 | ) | | — | | | (23.7 | ) | | (61.5 | ) | | 85.2 | | | (22.6 | ) |
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Repurchase of ordinary shares | (50.3 | ) | | — | | | — | | | — | | | — | | | (50.3 | ) |
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Other financing activities, net | 16.5 | | | — | | | — | | | (1.1 | ) | | — | | | 15.4 | |
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Net cash provided by (used in) financing activities | (56.4 | ) | | 13.2 | | | (9.3 | ) | | (153.3 | ) | | 85.2 | | | (120.6 | ) |
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Effect of exchange rate changes on cash and cash equivalents | — | | | — | | | — | | | (6.5 | ) | | — | | | (6.5 | ) |
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Net increase (decrease) in cash and cash equivalents | (0.2 | ) | | — | | | 40.3 | | | (16.1 | ) | | — | | | 24 | |
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Cash and cash equivalents - beginning of period | 1.4 | | | — | | | 78.8 | | | 147.2 | | | — | | | 227.4 | |
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Cash and cash equivalents - end of period | $ | 1.2 | | | $ | — | | | $ | 119.1 | | | $ | 131.1 | | | $ | — | | | $ | 251.4 | |
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Condensed and Consolidated Statement of Cash Flows |
For the nine months ended September 30, 2013 |
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In millions | Parent | | Issuer | | Subsidiary Guarantors | | Other | | Consolidating | | Allegion plc |
Subsidiaries | Adjustments |
Net cash provided by (used in) continuing operating activities | $ | — | | | $ | — | | | $ | 180.7 | | | $ | (24.0 | ) | | $ | — | | | $ | 156.7 | |
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Net cash provided by (used in) discontinued operating activities | — | | | — | | | 0.2 | | | 0.7 | | | — | | | 0.9 | |
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Net cash provided by (used in) operating activities | — | | | — | | | 180.9 | | | (23.3 | ) | | — | | | 157.6 | |
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Cash flows from investing activities: | | | | | | | | | | | |
Capital expenditures | — | | | — | | | (7.2 | ) | | (4.8 | ) | | — | | | (12.0 | ) |
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Proceeds from sale of property, plant and equipment | — | | | — | | | 0.7 | | | 23.7 | | | — | | | 24.4 | |
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Net cash provided by (used in) investing activities | — | | | — | | | (6.5 | ) | | 18.9 | | | — | | | 12.4 | |
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Cash flows from financing activities: | | | | | | | | | | | |
Net debt proceeds | — | | | — | | | — | | | (0.2 | ) | | — | | | (0.2 | ) |
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Net transfers from (to) Parent and affiliates | — | | | — | | | (162.4 | ) | | 43.9 | | | — | | | (118.5 | ) |
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Other, net | — | | | — | | | — | | | (5.2 | ) | | — | | | (5.2 | ) |
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Net cash provided by (used in) financing activities | — | | | — | | | (162.4 | ) | | 38.5 | | | — | | | (123.9 | ) |
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Effect of exchange rate changes on cash and cash equivalents | — | | | — | | | — | | | 4.9 | | | — | | | 4.9 | |
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Net increase (decrease) in cash and cash equivalents | — | | | — | | | 12 | | | 39 | | | — | | | 51 | |
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Cash and cash equivalents - beginning of period | — | | | — | | | 1.8 | | | 315.7 | | | — | | | 317.5 | |
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Cash and cash equivalents - end of period | $ | — | | | $ | — | | | $ | 13.8 | | | $ | 354.7 | | | $ | — | | | $ | 368.5 | |
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