Pentair (PNR) 10-Q 20 Oct 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 26, 2015shares
Document Information [Line Items]
Entity Registrant Name	PENTAIR plc
Entity Central Index Key	77,360
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 26, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Amendment Flag	false
Trading Symbol	PNR
Entity Common Stock, Shares Outstanding	180,253,587

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Net sales	$ 1,552.1	$ 1,758.4	$ 4,688.3	$ 5,236.5
Cost of goods sold	1,012	1,133.7	3,071.8	3,401.4
Gross profit	540.1	624.7	1,616.5	1,835.1
Selling, general and administrative	330.2	328.8	958.7	1,071
Research and development	29.9	28.5	88.7	88.2
Operating income	180	267.4	569.1	675.9
Other (income) expense:
Equity income of unconsolidated subsidiaries	(0.9)	(0.3)	(2)	(0.9)
Gain (Loss) on Disposition of Business	0	0	0	(0.2)
Net interest expense	31.3	17.1	68.1	51.1
Income from continuing operations before income taxes	149.6	250.6	503	625.5
Provision for income taxes	34.4	58.1	115.7	148.3
Net income from continuing operations	115.2	192.5	387.3	477.2
Income (loss) from discontinued operations, net of tax	0	1.6	(5.6)	2.6
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax	0	(380.1)	(4.8)	(385.7)
Net income	115.2	(186)	376.9	94.1
Comprehensive income (loss), net of tax
Net income	115.2	(186)	376.9	94.1
Changes in cumulative translation adjustment	(85.8)	(178.8)	(238.4)	(190.3)
Changes in market value of derivative financial instruments, net of $0.9, ($0.2), $1.3 and ($0.1) tax, respectively	(0.7)	0.8	(1.6)	1.2
Comprehensive income (loss)	$ 28.7	$ (364)	$ 136.9	$ (95)
Earnings (loss) per ordinary share
Income (Loss) from Continuing Operations, Per Basic Share	$ 0.64	$ 1.01	$ 2.15	$ 2.47
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	0	(1.99)	(0.06)	(1.98)
Basic (USD per share)	0.64	(0.98)	2.09	0.49
Income (Loss) from Continuing Operations, Per Diluted Share	0.63	1	2.12	2.43
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	0	(1.95)	(0.06)	(1.95)
Diluted (USD per share)	$ 0.63	$ (0.95)	$ 2.06	$ 0.48
Weighted average ordinary shares outstanding
Basic (shares)	180.2	190.2	180.1	193.2
Diluted (shares)	182.6	193.1	182.6	196.4
Common Stock, Dividends, Per Share, Cash Paid	$ 0.32	$ 0.30	$ 0.96	$ 0.80

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) Condensed Consolidated Statements of Operations and Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Condensed Consolidated Statements of Operations and Comprehensive Income (Parenthetical) [Abstract]
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax	$ 0.9	$ (0.2)	$ 1.3	$ (0.1)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 26, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 144.9	$ 110.4
Accounts and notes receivable, net of allowances of $98.4 and $96.5, respectively	1,136.5	1,205.9
Inventories	1,296.2	1,130.4
Other current assets	385.7	366.8
Assets of Disposal Group, Including Discontinued Operation, Current	0.9	80.6
Total current assets	2,964.2	2,894.1
Property, plant and equipment, net	921.4	950
Other assets
Goodwill	5,827.4	4,741.9
Intangibles, net	2,515.6	1,608.1
Other non-current assets	426.7	436.2
Disposal Group, Including Discontinued Operation, Assets, Noncurrent	15.6	24.9
Total other assets	8,785.3	6,811.1
Total assets	12,670.9	10,655.2
Current liabilities
Current maturities of long-term debt and short-term borrowings	3.2	6.7
Accounts payable	531	583.1
Employee compensation and benefits	264.6	305.5
Other current liabilities	693.9	709.1
Liabilities of Disposal Group, Including Discontinued Operation, Current	3.5	35.1
Total current liabilities	1,496.2	1,639.5
Other liabilities
Long-term debt	4,983.2	2,997.4
Pension and other post-retirement compensation and benefits	301.6	322
Deferred tax liabilities	827.9	528.3
Other non-current liabilities	525.6	497.7
Liabilities of Disposal Group, Including Discontinued Operation, Noncurrent	0.5	6.5
Total liabilities	8,135	5,991.4
Equity
Ordinary shares $0.01 par value, 426.0 authorized, 180.3 and 202.4 issued at September 26, 2015 and December 31, 2014, respectively	1.8	2
Ordinary shares held in treasury, 19.9 shares at December 31, 2014	0	(1,251.9)
Additional paid-in capital	2,849.2	4,250
Retained earnings	2,305.2	2,044
Accumulated other comprehensive income (loss)	(620.3)	(380.3)
Total equity	4,535.9	4,663.8
Total equity	4,535.9	4,663.8
Total liabilities and equity	$ 12,670.9	$ 10,655.2

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Sep. 26, 2015	Dec. 31, 2014
Accounts and notes receivable, allowances	$ 98.4	$ 96.5
Common shares, par value	$ 0.01	$ 0.01
Common shares, authorized	426	426
Common shares, issued	180.3	202.4
Treasury stock, shares	0	19.9

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) shares in Millions, $ in Millions	9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014
Treasury Stock, Shares, Retired	19.1
Operating activities
Net income	$ 376.9	$ 94.1
Income (Loss) from Discontinued Operations, Net of Tax	(5.6)	2.6
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax	4.8	385.7
Net Income (Loss) from Continuing Operations	387.3	477.2
Adjustments to reconcile net income from continuing operations to net cash provided by (used for) operating activities of continuing operations
Equity income of unconsolidated subsidiaries	(2)	(0.9)
Depreciation	101.4	103.9
Amortization	83.8	85.9
Deferred income taxes	1.9	6.7
Gain (Loss) on Disposition of Business	0	(0.2)
Share-based compensation	27.5	24.8
Excess tax benefits from share-based compensation	(6)	(10)
Amortization of Financing Costs	10.8
Loss (gain) on sale of assets	(7.7)	1.2
Changes in assets and liabilities, net of effects of business acquisitions
Accounts and notes receivable	85.8	71.5
Inventories	(115.3)	(38.5)
Other current assets	(45.1)	(36.8)
Accounts payable	(82.3)	(34.4)
Employee compensation and benefits	(42)	(11.9)
Other current liabilities	30.5	95.4
Other non-current assets and liabilities	(25.5)	(45.9)
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	403.1	688.2
Cash Provided by (Used in) Operating Activities, Discontinued Operations	(7.2)	(4.8)
Net cash provided by (used for) operating activities of continuing operations	395.9	683.4
Investing activities
Capital expenditures	(100.6)	(92.5)
Proceeds from sale of property and equipment	24.8	4.1
Payments to Acquire Businesses, Net of Cash Acquired	(1,913)	0
Other	(0.8)	0.9
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	(1,989.6)	(87.5)
Cash Provided by (Used in) Investing Activities, Discontinued Operations	59	0
Net cash provided by (used for) investing activities of continuing operations	(1,930.6)	(87.5)
Financing activities
Net receipts (repayments) of short-term borrowings	(2)	0.3
Net receipts of commercial paper and revolving long-term debt	276.5	426.2
Proceeds from Issuance of Long-term Debt	1,714.8	0
Repayments of long-term debt	(4.6)	(13.2)
Payments of Debt Issuance Costs	(26.8)	0
Excess tax benefits from share-based compensation	6	10
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options	21.9	30.3
Repurchases of ordinary shares	(200)	(850)
Dividends paid	(173.3)	(156.2)
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests	0	(134.7)
Net cash provided by (used for) financing activities	1,612.5	(687.3)
Effect of exchange rate changes on cash and cash equivalents	(43.3)	(8)
Change in cash and cash equivalents	34.5	(99.4)
Cash and cash equivalents, beginning of period	110.4	256
Cash and cash equivalents, end of period	$ 144.9	$ 156.6

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Changes in Equity - USD ($) shares in Millions, $ in Millions	Total	Ordinary shares	Treasury shares	Additional paid-in capital	Retained earnings	Accumulated other comprehensive income (loss)	Total Pentair plc	Noncontrolling interest
Beginning Balance at Dec. 31, 2013	$ 6,217.7	$ 113.5	$ (875.1)	$ 5,071.4	$ 1,829.1	$ (43.6)	$ 6,095.3	$ 122.4
Beginning Balance (in shares) at Dec. 31, 2013		(213)	(15.6)
Net income	94.1				94.1		94.1	0
Other Comprehensive Income (Loss), Net of Tax	(189.1)					(189.1)	(189.1)	0
par value conversion		$ (111.4)		111.4
Dividends declared	(225.7)			(225.7)	0		(225.7)
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests	134.7			12.3			12.3	122.4
Share repurchase	(850)		$ (450.7)	(399.3)			(850)
Share repurchase (in shares)		(5.9)	(5.8)
Exercise of options, net of shares tendered for payment	37.7	$ 0	$ 48.7	(11)			37.7
Exercise of options, net of shares tendered for payment (in shares)		0	0.9
Issuance of restricted shares, net of cancellations	0	$ 0	$ 14.4	(14.4)			0
Issuance of restricted shares, net of cancellations (in shares)		0	0.3
Shares surrendered by employees to pay taxes	(7.4)	$ 0	$ (4.8)	(2.6)			(7.4)
Shares surrendered by employees to pay taxes (in shares)		0	(0.1)
Share-based compensation	24.8			24.8			24.8
Ending Balance (in shares) at Sep. 27, 2014		(207.1)	(20.3)
Ending Balance at Sep. 27, 2014	4,967.4	$ 2.1	$ (1,267.5)	4,542.3	1,923.2	(232.7)	4,967.4	0
Beginning Balance at Dec. 31, 2014	4,663.8	$ 2	$ (1,251.9)	4,250	2,044	(380.3)	4,663.8	0
Beginning Balance (in shares) at Dec. 31, 2014		(202.4)	19.9
Net income	376.9				376.9		376.9	0
Other Comprehensive Income (Loss), Net of Tax	(240)					(240)	(240)
Dividends declared	(114.2)			1.5	(115.7)		(114.2)
Share repurchase	$ (200)		$ 0	(200)			(200)
Treasury Stock, Shares, Retired	19.1	(19.1)
Treasury Stock, Retired, Cost Method, Amount		$ (0.2)	$ 1,210.9	(1,210.7)
Share repurchase (in shares)	(3.1)	(3.1)	0
Exercise of options, net of shares tendered for payment	$ 26.7		$ 34.6	(7.9)			26.7
Exercise of options, net of shares tendered for payment (in shares)			0.7
Issuance of restricted shares, net of cancellations			$ 9.5	(9.5)
Issuance of restricted shares, net of cancellations (in shares)			0.2
Shares surrendered by employees to pay taxes	(4.8)		$ (3.1)	(1.7)			(4.8)
Shares surrendered by employees to pay taxes (in shares)			(0.1)
Share-based compensation	27.5			27.5			27.5
Ending Balance (in shares) at Sep. 26, 2015		(180.3)	0
Ending Balance at Sep. 26, 2015	$ 4,535.9	$ 1.8	$ 0	$ 2,849.2	$ 2,305.2	$ (620.3)	$ 4,535.9	$ 0

Basis of Presentation and Respo

Basis of Presentation and Responsibility for Interim Financial Statements	9 Months Ended
	Sep. 26, 2015
Basis of Presentation and Responsibility for Interim Financial Statements	Basis of Presentation and Responsibility for Interim Financial Statements The accompanying unaudited condensed consolidated financial statements of Pentair plc (formerly Pentair Ltd.) and its subsidiaries ("we," "us," "our," "Pentair," or "the Company") have been prepared following the requirements of the U.S. Securities and Exchange Commission ("SEC") for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by accounting principles generally accepted in the United States of America can be condensed or omitted. In December 2013, the Company’s Board of Directors approved changing the Company’s jurisdiction of organization from Switzerland to Ireland. At an extraordinary meeting of shareholders on May 20, 2014, Pentair Ltd. shareholders voted in favor of a reorganization proposal pursuant to which Pentair Ltd. would merge into Pentair plc, an Irish company, and all Pentair Ltd. CHF 0.50 par value common shares would be canceled and all holders of such shares would receive $0.01 par value ordinary shares of Pentair plc on a one-for-one basis. The reorganization transaction was completed on June 3, 2014, at which time Pentair plc replaced Pentair Ltd. as our ultimate parent company (the "Redomicile"). Shares of Pentair plc began trading on the New York Stock Exchange on June 3, 2014 under the symbol "PNR," the same symbol under which Pentair Ltd. shares were previously traded. Although our jurisdiction of organization is Ireland, we manage our affairs so that we are centrally managed and controlled in the United Kingdom (the "U.K.") and therefore have our tax residency in the U.K. During the first quarter of 2015, we reorganized our business segments to reflect a new operating structure and management of our Global Business Units, Valves & Controls, Flow & Filtration Solutions, Water Quality Systems and Technical Solutions. All prior period amounts related to the segment change have been retrospectively reclassified throughout this Quarterly Report on Form 10-Q to conform to the new presentation. We are responsible for the unaudited financial statements included in this document. The financial statements include all normal recurring adjustments that are considered necessary for the fair presentation of our financial position and operating results. As these are condensed financial statements, one should also read our consolidated financial statements and notes thereto, which are included in our Annual Report on Form 10-K for the year ended December 31, 2014 . Revenues, expenses, cash flows, assets and liabilities can and do vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be indicative of those for a full year. Our fiscal year ends on December 31. We report our interim quarterly periods on a 13-week basis ending on a Saturday. New Accounting Standards In September 2015, the Financial Accounting Standards Board (the "FASB") issued a new accounting standard related to the accounting for measurement period adjustments recognized in a business combination. Under the previous standard, when adjustments were made to amounts previously reported as part of a business combination during the measurement period, entities were required to revise comparative information for prior periods. Under the new standard, entities must recognize these adjustments in the reporting period in which the amounts are determined rather than retrospectively. The new standard is effective for fiscal years beginning after December 15, 2015, including interim periods within that reporting period and early adoption is permitted. The potential impact on our financial condition or results of operations will be dependent upon the nature of final purchase price allocations. We plan to adopt the new standard during the fourth quarter of 2015. In May 2014, the FASB issued new accounting requirements for the recognition of revenue from contracts with customers. The new requirements include additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The requirements are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early adoption is permitted for reporting periods beginning after December 15, 2016. We have not yet determined the potential effects on our financial condition or results of operations.

Acquisitions Acquisitions (Note

Acquisitions Acquisitions (Notes)	9 Months Ended
	Sep. 26, 2015
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	2. Acquisitions On September 18, 2015, we acquired, as part of Technical Solutions, all of the outstanding shares of capital stock of ERICO Global Company ("ERICO") for approximately $1.8 billion (the "ERICO Acquisition"). ERICO is a leading global manufacturer and marketer of engineered electrical and fastening products for electrical, mechanical and civil applications. ERICO has employees in 30 countries across the world with recognized brands including CADDY® fixing, fastening and support products; ERICO® electrical grounding, bonding and connectivity products and LENTON® engineered systems. The purchase price has been preliminarily allocated based on the estimated fair value of assets acquired and liabilities assumed at the date of the ERICO Acquisition. The preliminary purchase price allocation is subject to further refinement and may require significant adjustments to arrive at the final purchase price allocation. These changes will primarily relate to the fair value of tangible and intangible assets acquired and liabilities assumed and the related income tax impacts. We expect the purchase price allocation to be completed in the first quarter of 2016. There can be no assurance that such finalization will not result in material changes from the preliminary purchase price allocations. The following table summarizes our preliminary estimates of the fair values of the assets acquired and liabilities assumed in the ERICO Acquisition: In millions Cash $ 11.6 Accounts receivable 76.7 Inventories 99.0 Other current assets 9.5 Property, plant and equipment 27.0 Identifiable intangible assets 964.6 Goodwill 1,102.8 Current liabilities (96.0 ) Deferred income taxes, including current (373.0 ) Other liabilities (4.1 ) Purchase price $ 1,818.1 The excess of purchase price over tangible net assets and identified intangible assets acquired has been preliminarily allocated to goodwill in the amount of $1,102.8 million , none of which is expected to be deductible for income tax purposes. Identifiable intangible assets acquired as part of the acquisition have been preliminarily valued at $964.6 million , including definite-lived customer relationship and indefinite-lived trade name intangible assets. ERICO's net sales and net income for the period from the acquisition date to September 26, 2015 were $13.0 million and $2.2 million , respectively. The following unaudited pro forma consolidated condensed financial results of operations are presented as if the ERICO Acquisition was consummated on January 1, 2014, the beginning of the comparable annual reporting period from the date of the ERICO Acquisition: Three months ended Nine months ended In millions, except per-share data September 26, September 27, September 26, September 27, Pro forma net sales $ 1,670.9 $ 1,906.4 $ 5,074.5 $ 5,659.8 Pro forma net income from continuing operations 152.2 200.3 433.5 481.3 Pro forma earnings per ordinary share - continuing operations Basic $ 0.84 $ 1.05 $ 2.41 $ 2.48 Diluted 0.83 1.03 2.38 2.44 The unaudited pro forma net income from continuing operations for the nine months ended September 27, 2014 was adjusted to include the impact of $29.0 million in non-recurring items related to acquisition date fair value adjustments to inventory. The unaudited pro forma net income for the three and nine months ended September 26, 2015 excludes the impact of $24.6 million of non-recurring transaction related and bridge financing costs. The pro forma condensed consolidated financial information has been prepared for comparative purposes only and includes certain adjustments, as noted above. The adjustments are estimates based on currently available information and actual amounts may differ materially from these estimates. They do not reflect the effect of costs or synergies that would have been expected to result from the integration of the ERICO Acquisition. The pro forma information does not purport to be indicative of the results of operations that actually would have resulted had the ERICO Acquisition occurred on January 1, 2014. In April 2015, we acquired, as part of Technical Solutions, all of the outstanding shares of capital stock of Nuheat Industries Limited ("Nuheat") for $96.0 million in cash ( 120.5 million Canadian dollars translated at the April 2, 2015 exchange rate), net of cash acquired. Based in Canada, Nuheat is a leading manufacturer of electric floor heating systems that are distributed across North America. Total goodwill recorded as part of the purchase allocation was $ 46.5 million , none of which is tax deductible. Identified intangible assets acquired consisted of customer relationships of $ 53.3 million , with an estimated useful life of 17 years. The pro forma impact of this acquisition was deemed to not be material. On January 30, 2014, we acquired, as part of Water Quality Systems, the remaining 19.9 percent ownership interest in a U.S. entity and an international entity (collectively, "Pentair Residential Filtration" or "PRF"), from GE Water & Process Technologies (a unit of General Electric Company) ("GE") for $134.3 million in cash. Prior to the acquisition, we held an 80.1 percent ownership equity interest in PRF, representing our and GE's respective global water softener and residential water filtration businesses. There was no material pro forma impact from this acquisition as the results of PRF were consolidated into our financial statements prior to acquiring the remaining interest.

Discontinued Operations and Div

Discontinued Operations and Divestitures	9 Months Ended
	Sep. 26, 2015
Business Combinations [Abstract]
Discontinued Operations and Divestitures	Discontinued Operations On July 28, 2014, our Board of Directors approved a decision to exit our Water Transport business in Australia. During the first and second quarters of 2015, we sold portions of the Water Transport business and received cash proceeds of $59.0 million . In addition, during the first quarter of 2014 we sold a portion of our Water Transport business resulting in a loss of $5.6 million , net of a $2.4 million tax benefit. We expect to dispose of the remainder of the Water Transport business by the end of 2015. The results of the Water Transport business have been presented as discontinued operations and the assets and liabilities of the Water Transport business have been reclassified as held for sale for all periods presented. Operating results of discontinued operations are summarized below: Three months ended Nine months ended In millions September 26, September 27, September 26, September 27, Net sales $ — $ 74.8 $ 18.6 $ 235.4 Cost of goods sold — 65.1 18.1 198.9 Gross profit $ — $ 9.7 $ 0.5 $ 36.5 Income (loss) from discontinued operations before income taxes $ — $ 0.2 $ (7.1 ) $ 0.3 Income tax benefit — 1.4 1.5 2.3 Income (loss) from discontinued operations, net of tax $ — $ 1.6 $ (5.6 ) $ 2.6 Loss from sale / impairment of discontinued operations before income taxes $ — $ (392.4 ) $ (4.8 ) $ (400.4 ) Income tax benefit — 12.3 — 14.7 Loss from sale / impairment of discontinued operations, net of tax $ — $ (380.1 ) $ (4.8 ) $ (385.7 ) The carrying amounts of major classes of assets and liabilities that were classified as held for sale on the Condensed Consolidated Balance Sheets were as follows: In millions September 26, December 31, Cash and cash equivalents $ — $ 7.0 Accounts and notes receivable, net — 28.8 Inventories — 30.1 Other current assets 0.9 14.7 Current assets held for sale $ 0.9 $ 80.6 Property, plant and equipment, net $ 15.6 $ 18.5 Other non-current assets — 6.4 Non-current assets held for sale $ 15.6 $ 24.9 Accounts payable — 12.2 Employee compensation and benefits — 11.3 Other current liabilities 3.5 11.6 Current liabilities held for sale $ 3.5 $ 35.1 Long-term debt $ — $ 4.0 Pension and other post-retirement compensation and benefits — 2.5 Deferred tax liabilities 0.5 — Non-current liabilities held for sale $ 0.5 $ 6.5

Share Plans

Share Plans	9 Months Ended
	Sep. 26, 2015
Share Plans	Share Plans Total share-based compensation expense for the three and nine months ended September 26, 2015 and September 27, 2014 was as follows: Three months ended Nine months ended In millions September 26, September 27, September 26, September 27, Restricted stock units $ 5.4 $ 5.6 $ 17.9 $ 16.7 Stock options 2.7 2.7 9.6 8.1 Total share-based compensation expense $ 8.1 $ 8.3 $ 27.5 $ 24.8 In the first quarter of 2015 , we issued our annual share-based compensation grants under the Pentair plc 2012 Stock and Incentive Plan to eligible employees. The total number of awards issued was approximately 0.8 million , of which 0.6 million were stock options and 0.2 million were restricted stock units. The weighted-average grant date fair value of the stock options and restricted stock units issued was $16.73 and $66.44 , respectively. We estimated the fair value of each stock option award issued in the annual share-based compensation grant using a Black-Scholes option pricing model, modified for dividends and using the following assumptions: 2015 Annual Grant Risk-free interest rate 1.61 % Expected dividend yield 1.96 % Expected share price volatility 30.4 % Expected term (years) 6.0 These estimates require us to make assumptions based on historical results, observance of trends in our share price, changes in option exercise behavior, future expectations and other relevant factors. If other assumptions had been used, share-based compensation expense, as calculated and recorded under the accounting guidance, could have been affected. We based the expected life assumption on historical experience as well as the terms and vesting periods of the options granted. For purposes of determining expected share price volatility, we considered a rolling average of historical volatility measured over a period approximately equal to the expected option term. The risk-free interest rate for periods that coincide with the expected life of the options is based on the U.S. Treasury Department yield curve in effect at the time of grant.

Restructuring

Restructuring	9 Months Ended
	Sep. 26, 2015
Restructuring	Restructuring During the nine months ended September 26, 2015 and the year ended December 31, 2014 , we continued execution of certain business restructuring initiatives aimed at reducing our fixed cost structure and realigning our business. Initiatives during the nine months ended September 26, 2015 included the reduction in hourly and salaried headcount of approximately 1,500 employees, consisting of approximately 1,150 in Valves & Controls, 150 in Flow & Filtration Solutions, 100 in Water Quality Systems and 100 in Technical Solutions. Initiatives during the year ended December 31, 2014 included the reduction in hourly and salaried headcount of approximately 1,150 employees, consisting of approximately 600 in Valves & Controls, 350 in Flow & Filtration Solutions, 50 in Water Quality Systems and 150 in Technical Solutions. Restructuring related costs included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) included costs for severance and other restructuring costs as follows: Three months ended Nine months ended In millions September 26, September 27, September 26, September 27, Severance and related costs $ 14.6 $ — $ 35.2 $ 34.6 Other 10.6 — 14.0 18.3 Total restructuring costs $ 25.2 $ — $ 49.2 $ 52.9 Other restructuring costs primarily consist of asset impairment and various contract termination costs. Restructuring costs by reportable segment for the three and nine months ended September 26, 2015 and September 27, 2014 were as follows: Three months ended Nine months ended In millions September 26, September 27, September 26, September 27, Valves & Controls $ 18.0 $ — $ 31.6 $ 27.7 Flow & Filtration Solutions 3.5 — 7.2 12.3 Water Quality Systems 1.5 — 4.8 7.1 Technical Solutions 2.2 — 5.6 5.8 Consolidated $ 25.2 $ — $ 49.2 $ 52.9 Activity in the restructuring accrual recorded in Other current liabilities and Employee compensation and benefits in the Condensed Consolidated Balance Sheets is summarized as follows for the nine months ended September 26, 2015 : In millions September 26, Beginning balance $ 73.4 Costs incurred 35.2 Cash payments and other (37.4 ) Ending balance $ 71.2

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 26, 2015
Earnings Per Share	Earnings (Loss) Per Share Basic and diluted earnings (loss) per share were calculated as follows: Three months ended Nine months ended In millions, except per-share data September 26, September 27, September 26, September 27, Net income (loss) $ 115.2 $ (186.0 ) $ 376.9 $ 94.1 Net income from continuing operations $ 115.2 $ 192.5 $ 387.3 $ 477.2 Weighted average ordinary shares outstanding Basic 180.2 190.2 180.1 193.2 Dilutive impact of stock options and restricted stock units 2.4 2.9 2.5 3.2 Diluted 182.6 193.1 182.6 196.4 Earnings (loss) per ordinary share Basic Continuing operations $ 0.64 $ 1.01 $ 2.15 $ 2.47 Discontinued operations — (1.99 ) (0.06 ) (1.98 ) Basic earnings (loss) per ordinary share $ 0.64 $ (0.98 ) $ 2.09 $ 0.49 Diluted Continuing operations $ 0.63 $ 1.00 $ 2.12 $ 2.43 Discontinued operations — (1.95 ) (0.06 ) (1.95 ) Diluted earnings (loss) per ordinary share $ 0.63 $ (0.95 ) $ 2.06 $ 0.48 Anti-dilutive stock options excluded from the calculation of diluted earnings per share 1.2 0.5 1.2 0.5

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	9 Months Ended
	Sep. 26, 2015
Supplemental Balance Sheet Information	Supplemental Balance Sheet Information In millions September 26, December 31, Inventories Raw materials and supplies $ 445.9 $ 460.1 Work-in-process 277.3 229.0 Finished goods 573.0 441.3 Total inventories $ 1,296.2 $ 1,130.4 Other current assets Cost in excess of billings $ 125.6 $ 103.5 Prepaid expenses 111.2 109.6 Deferred income taxes 126.3 139.4 Other current assets 22.6 14.3 Total other current assets $ 385.7 $ 366.8 Property, plant and equipment, net Land and land improvements $ 145.1 $ 165.1 Buildings and leasehold improvements 507.1 493.5 Machinery and equipment 1,282.6 1,169.1 Construction in progress 75.0 71.0 Total property, plant and equipment 2,009.8 1,898.7 Accumulated depreciation and amortization 1,088.4 948.7 Total property, plant and equipment, net $ 921.4 $ 950.0 Other non-current assets Asbestos-related insurance receivable $ 111.3 $ 115.8 Deferred income taxes 92.1 87.9 Other non-current assets 223.3 232.5 Total other non-current assets $ 426.7 $ 436.2 Other current liabilities Deferred revenue and customer deposits $ 99.6 $ 112.7 Dividends payable 57.7 116.8 Billings in excess of cost 38.1 41.4 Accrued warranty 61.1 66.4 Other current liabilities 437.4 371.8 Total other current liabilities $ 693.9 $ 709.1 Other non-current liabilities Asbestos-related liabilities $ 240.1 $ 249.1 Taxes payable 63.9 61.6 Other non-current liabilities 221.6 187.0 Total other non-current liabilities $ 525.6 $ 497.7

Goodwill and Other Identifiable

Goodwill and Other Identifiable Intangible Assets	9 Months Ended
	Sep. 26, 2015
Goodwill and Other Identifiable Intangible Assets	Goodwill and Other Identifiable Intangible Assets The changes in the carrying amount of goodwill by segment were as follows: In millions December 31, Acquisitions/ divestitures Foreign currency translation/other September 26, Valves & Controls $ 1,511.6 $ — $ — $ 1,511.6 Flow & Filtration Solutions 942.4 — (51.8 ) 890.6 Water Quality Systems 1,137.6 — (14.7 ) 1,122.9 Technical Solutions 1,150.3 1,160.9 (8.9 ) 2,302.3 Total goodwill $ 4,741.9 $ 1,160.9 $ (75.4 ) $ 5,827.4 Identifiable intangible assets consisted of the following: September 26, December 31, In millions Cost Accumulated amortization Net Cost Accumulated amortization Net Finite-life intangibles Customer relationships $ 1,976.4 $ (384.3 ) $ 1,592.1 $ 1,247.8 $ (325.2 ) $ 922.6 Trade names 1.8 (1.2 ) 0.6 2.0 (1.1 ) 0.9 Proprietary technology and patents 250.3 (109.5 ) 140.8 255.7 (96.7 ) 159.0 Total finite-life intangibles $ 2,228.5 $ (495.0 ) $ 1,733.5 $ 1,505.5 $ (423.0 ) $ 1,082.5 Indefinite-life intangibles Trade names 782.1 — 782.1 525.6 — 525.6 Total intangibles, net $ 3,010.6 $ (495.0 ) $ 2,515.6 $ 2,031.1 $ (423.0 ) $ 1,608.1 Intangible asset amortization expense was $28.2 million and $28.4 million for the three months ended September 26, 2015 and September 27, 2014 , respectively, and $83.8 million and $85.9 million for the nine months ended September 26, 2015 and September 26, 2014. Estimated future amortization expense for identifiable intangible assets during the remainder of 2015 and the next five years is as follows: Q4 In millions 2015 2016 2017 2018 2019 2020 Estimated amortization expense $ 39.4 $ 157.4 $ 155.9 $ 153.5 $ 146.7 $ 141.6

Debt

Debt	9 Months Ended
	Sep. 26, 2015
Debt	Debt Debt and the average interest rates on debt outstanding were as follows: In millions Average interest rate at September 26, 2015 Maturity Year September 26, December 31, Commercial paper 0.885% 2019 $ 1,082.4 $ 987.6 Revolving credit facilities 1.451% 2019 191.5 9.8 Senior notes - fixed rate 1.350% 2015 350.0 350.0 Senior notes - fixed rate 1.875% 2017 350.0 350.0 Senior notes - fixed rate 2.900% 2018 500.0 — Senior notes - fixed rate 2.650% 2019 250.0 250.0 Senior notes - fixed rate - Euro 2.450% 2019 559.3 — Senior notes - fixed rate 3.625% 2020 400.0 — Senior notes - fixed rate 5.000% 2021 500.0 500.0 Senior notes - fixed rate 3.150% 2022 550.0 550.0 Senior notes - fixed rate 4.650% 2025 250.0 — Capital lease obligations and other 8.284% 2016 3.2 6.7 Total debt 4,986.4 3,004.1 Less: Current maturities and short-term borrowings (3.2 ) (6.7 ) Long-term debt $ 4,983.2 $ 2,997.4 In September 2015, Pentair plc, Pentair Finance S.A. ("PFSA") and Pentair Investments Switzerland GmbH ("PISG"), a 100-percent owned subsidiary of Pentair plc and the 100-percent owner of PFSA, completed public offerings (the "September 2015 Offerings") of $500.0 million aggregate principal amount of PFSA's 2.90% Senior Notes due 2018 , $400.0 million aggregate principal amount of PFSA's 3.625% Senior Notes due 2020 , $250.0 million aggregate principal amount of PFSA's 4.65% Senior Notes due 2025 and € 500.0 million aggregate principal amount of PFSA's 2.45% Senior Notes due 2019 . Pentair plc used the net proceeds from the September 2015 Offerings to finance the ERICO Acquisition. The Senior Notes issued in the September 2015 Offerings, the 1.35% Senior Notes due 2015 , 1.875% Senior Notes due 2017 , 2.65% Senior Notes due 2019 , $373.0 million of the 5.00% Senior Notes due 2021 and 3.15% Senior Notes due 2022 issued by PFSA and $127.0 million of the 5.00% Senior Notes due 2021 issued by Pentair, Inc. (collectively, the "Notes") are guaranteed as to payment by Pentair plc and PISG. Pentair, Inc. had a credit agreement providing for an unsecured, committed revolving credit facility (the "Prior Credit Facility") pursuant to which Pentair Ltd. was the guarantor and PFSA and certain other of our subsidiaries were affiliate borrowers. In October 2014, Pentair plc, PISG, PFSA and Pentair, Inc. entered into an amended and restated credit agreement related to the Prior Credit Facility (the "Amended Credit Facility"), with Pentair plc and PISG as guarantors and PFSA and Pentair, Inc. as borrowers. The Amended Credit Facility increased the maximum aggregate availability to $2,100.0 million and extended the maturity date to October 3, 2019. Borrowings under the Amended Credit Facility generally bear interest at a variable rate equal to the London Interbank Offered Rate ("LIBOR") plus a specified margin based upon PFSA's credit ratings. PFSA must pay a facility fee ranging from 9.0 to 25.0 basis points per annum (based upon PFSA's credit ratings) on the amount of each lender's commitment and letter of credit fee for each letter of credit issued and outstanding under the Amended Credit Facility. In August 2015, Pentair plc, PISG and PFSA entered into a First Amendment to the Amended Credit Facility (the "First Amendment"), which, among other things, increased the Leverage Ratio (as defined below) following the ERICO Acquisition from 3.50 to 1.00 on the last day of each fiscal quarter to the amounts specified below. Additionally, in September 2015, Pentair plc, PISG and PFSA entered into a Second Amendment to the Amended Credit Facility (the "Second Amendment", and together with the First Amendment, the "Amendments"), which, among other things, increased the maximum aggregate availability to $2,500.0 million . PFSA is authorized to sell short-term commercial paper notes to the extent availability exists under the Amended Credit Facility. PFSA uses the Amended Credit Facility as back-up liquidity to support 100% of commercial paper outstanding. As of September 26, 2015 and December 31, 2014 , PFSA had $1,082.4 million and $987.6 million , respectively, of commercial paper outstanding, all of which was classified as long-term as we have the intent and the ability to refinance such obligations on a long-term basis under the Amended Credit Facility. Total availability under the Amended Credit Facility was $1,226.1 million as of September 26, 2015 , which was not limited by any covenants contained in the Amended Credit Facility’s credit agreement. Our debt agreements contain certain financial covenants, the most restrictive of which are in the Amended Credit Facility (as updated for the Amendments), including that we may not permit (i) the ratio of our consolidated debt plus synthetic lease obligations to our consolidated net income (excluding, among other things, non-cash gains and losses) before interest, taxes, depreciation, amortization, non-cash share-based compensation expense, up to a lifetime maximum $25.0 million of costs, fees and expenses incurred in connection with certain acquisitions, investments, dispositions and the issuance, repayment or refinancing of debt, and in addition to (but without duplication of) the fees, costs and expenses referred above, any fees, costs and expenses, in an aggregate amount not to exceed $50.0 million , incurred in connection with the ERICO Acquisition and any related incurrence, issuance, repayment or refinancing of debt ("EBITDA") for the four consecutive fiscal quarters then ended (the "Leverage Ratio") to exceed (a) 4.50 to 1.00 as of the last day of any period of four consecutive fiscal quarters ending on or prior to June 30, 2016; (b) 4.25 to 1.00 as of the last day of the period of four consecutive fiscal quarters ending on September 30, 2016; (c) 4.00 to 1.00 as of the last day of the period of four consecutive fiscal quarters ending on December 31, 2016; (d) 3.75 to 1.00 as of the last day of the period of four consecutive fiscal quarters ending after December 31, 2016 but before June 30, 2017; and (e) 3.50 to 1.00 as of the last day of the period of four consecutive fiscal quarters ending after June 30, 2017, and (ii) the ratio of our EBITDA for the four consecutive fiscal quarters then ended to our consolidated interest expense, including consolidated yield or discount accrued as to outstanding securitization obligations (if any), for the same period to be less than 3.00 to 1.00 as of the end of each fiscal quarter. For purposes of the Leverage Ratio, the Amended Credit Facility provides for the calculation of EBITDA giving pro forma effect to certain acquisitions, divestitures and liquidations during the period to which such calculation relates. As of September 26, 2015 , we were in compliance with all financial covenants in our debt agreements . In addition to the Amended Credit Facility, we have various other credit facilities with an aggregate availability of $51.0 million , of which $0.3 million was outstanding at September 26, 2015 . Borrowings under these credit facilities bear interest at variable rates. We have $350.0 million of fixed rate senior notes maturing in December 2015. We classified this debt as long-term as of September 26, 2015 as we have the intent and ability to refinance such obligation on a long-term basis under the Amended Credit Facility. Debt outstanding at September 26, 2015 matures on a calendar year basis as follows: Q4 In millions 2015 2016 2017 2018 2019 2020 Thereafter Total Contractual debt obligation maturities $ 350.3 $ — $ 350.0 $ 500.0 $ 2,083.2 $ 400.0 $ 1,300.0 $ 4,983.5 Capital lease obligations 1.7 1.2 — — — — — 2.9 Total maturities $ 352.0 $ 1.2 $ 350.0 $ 500.0 $ 2,083.2 $ 400.0 $ 1,300.0 $ 4,986.4 Capital lease obligations relate primarily to land and buildings and consist of total future minimum lease payments of $3.0 million , less the imputed interest of $0.1 million as of September 26, 2015 . As of September 26, 2015 and December 31, 2014 , assets under capital lease were $5.0 million and $19.5 million , respectively, less accumulated amortization of $1.8 million and $2.4 million , respectively, all of which were included in Property, plant and equipment, net on the Condensed Consolidated Balance Sheets.

Derivatives and Financial Instr

Derivatives and Financial Instruments	9 Months Ended
	Sep. 26, 2015
Derivatives and Financial Instruments	Derivatives and Financial Instruments Derivative financial instruments We are exposed to market risk related to changes in foreign currency exchange rates and interest rates on our floating rate indebtedness. To manage the volatility related to these exposures, we periodically enter into a variety of derivative financial instruments. Our objective is to reduce, where it is deemed appropriate to do so, fluctuations in earnings and cash flows associated with changes in foreign currency rates and interest rates. The derivative contracts contain credit risk to the extent that our bank counterparties may be unable to meet the terms of the agreements. The amount of such credit risk is generally limited to the unrealized gains, if any, in such contracts. Such risk is minimized by limiting those counterparties to major financial institutions of high credit quality. Interest rate swaps In April 2011, we entered into interest rate swap contracts to hedge movement in interest rates through the expected date of a fixed rate debt offering. The swaps had a notional amount of $400.0 million with an average interest rate of 3.65% . In May 2011, upon the sale of the fixed rate debt, the swaps were terminated at a cost of $11.0 million . Because we used the contracts to hedge future interest payments, this was recorded in Accumulated other comprehensive income (loss) ("AOCI") in the Condensed Consolidated Balance Sheets and will be amortized as interest expense over the 10 year life of the underlying fixed rate debt. The ending unrealized net loss in AOCI was $6.1 million and $7.0 million at September 26, 2015 and December 31, 2014 , respectively. Foreign currency contracts We conduct business in various locations throughout the world and are subject to market risk due to changes in the value of foreign currencies in relation to our reporting currency, the U.S. dollar. We manage our economic and transaction exposure to certain market-based risks through the use of foreign currency derivative financial instruments. Our objective in holding these derivatives is to reduce the volatility of net earnings and cash flows associated with changes in foreign currency exchange rates. The majority of our foreign currency contracts have an original maturity date of less than one year. At September 26, 2015 and December 31, 2014 , we had outstanding foreign currency derivative contracts with gross notional U.S. dollar equivalent amounts of $235.1 million and $250.8 million , respectively. The impact of these contracts on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) is not material for any period presented. Gains or losses on foreign currency contracts designated as hedges are reclassified out of AOCI and into Selling, general and administrative expense in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) upon settlement. Such reclassifications during the three and nine months ended September 26, 2015 and September 27, 2014 were not material. Net Investment Hedge We have net investments in foreign subsidiaries that are subject to changes in the foreign currency exchange rate. In September 2015, we designated the € 500.0 million 2.45% Senior Notes due 2019 (the "2019 Euro Notes") as a net investment hedge for a portion of our net investment in our Euro denominated subsidiaries. The gains/losses on the 2019 Euro Notes have been included as a component of the cumulative translation adjustment account within AOCI. As of September 26, 2015 , we had deferred foreign currency gains of $5.5 million in AOCI associated with the net investment hedge activity. Fair value measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are classified using the following hierarchy, which is based upon the transparency of inputs to the valuation as of the measurement date: Level 1: Valuation is based on observable inputs such as quoted market prices (unadjusted) for identical assets or liabilities in active markets. Level 2: Valuation is based on inputs such as quoted market prices for similar assets or liabilities in active markets or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3: Valuation is based upon other unobservable inputs that are significant to the fair value measurement. In making fair value measurements, observable market data must be used when available. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. Fair value of financial instruments The following methods were used to estimate the fair values of each class of financial instruments: • short-term financial instruments (cash and cash equivalents, accounts and notes receivable, accounts and notes payable and variable-rate debt) — recorded amount approximates fair value because of the short maturity period; • long-term fixed-rate debt, including current maturities — fair value is based on market quotes available for issuance of debt with similar terms, which are inputs that are classified as Level 2 in the valuation hierarchy defined by the accounting guidance; and • foreign currency contract agreements — fair values are determined through the use of models that consider various assumptions, including time value, yield curves, as well as other relevant economic measures, which are inputs that are classified as Level 2 in the valuation hierarchy defined by the accounting guidance. The recorded amounts and estimated fair values of total debt were as follows: September 26, December 31, In millions Recorded Amount Fair Value Recorded Amount Fair Value Variable rate debt $ 1,274.2 $ 1,274.2 $ 997.4 $ 997.4 Fixed rate debt 3,712.2 3,782.1 2,006.7 2,070.4 Total debt $ 4,986.4 $ 5,056.3 $ 3,004.1 $ 3,067.8 Financial assets and liabilities measured at fair value on a recurring and nonrecurring basis were as follows: September 26, In millions Level 1 Level 2 Level 3 Total Recurring fair value measurements Foreign currency contract liabilities $ — $ (13.5 ) $ — $ (13.5 ) Deferred compensation plan assets (1) 42.2 8.0 — 50.2 Total recurring fair value measurements $ 42.2 $ (5.5 ) $ — $ 36.7 December 31, In millions Level 1 Level 2 Level 3 Total Recurring fair value measurements Foreign currency contract assets $ — $ 0.9 $ — $ 0.9 Foreign currency contract liabilities — (6.6 ) — (6.6 ) Deferred compensation plan assets (1) 47.9 7.4 — 55.3 Total recurring fair value measurements $ 47.9 $ 1.7 $ — $ 49.6 Nonrecurring fair value measurements (2) (1) Deferred compensation plan assets include mutual funds, common/collective trusts and cash equivalents for payment of certain non-qualified benefits for retired, terminated and active employees. The fair value of mutual funds and cash equivalents were based on quoted market prices in active markets. The underlying investments in the common/collective trusts primarily include intermediate and long-term debt securities, corporate debt securities, equity securities and fixed income securities. The overall fair value of the common/collective trusts are based on observable inputs. (2) During the third quarter of 2014, we recognized an impairment charge related to allocated amounts of goodwill, intangible assets, property, plant & equipment and other non-current assets totaling $380.1 million , net of a $12.3 million tax benefit, representing our estimated loss on disposal of the Water Transport business. The impairment charge was determined using significant unobservable inputs (Level 3 fair value measurements).

Income Taxes

Income Taxes	9 Months Ended
	Sep. 26, 2015
Income Taxes	Income Taxes We manage our affairs so that we are centrally managed and controlled in the U.K. and therefore have our tax residency in the U.K. The provision for income taxes consists of provisions for U.K. and international income taxes. We operate in an international environment with operations in various locations outside the U.K. Accordingly, the consolidated income tax rate is a composite rate reflecting the earnings in the various locations and the applicable rates. The effective income tax rate for the nine months ended September 26, 2015 was 23.0% , compared to 23.7% for the nine months ended September 27, 2014 . We continue to actively pursue initiatives to reduce our effective tax rate. The tax rate in any quarter can be affected positively or negatively by adjustments that are required to be reported in the specific quarter of resolution. The liability for uncertain tax positions was $63.9 million and $62.1 million at September 26, 2015 and December 31, 2014 , respectively. We record penalties and interest related to unrecognized tax benefits in Provision for income taxes and Net interest expense , respectively, on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss), which is consistent with our past practices.

Benefit Plans

Benefit Plans	9 Months Ended
	Sep. 26, 2015
Benefit Plans	Benefit Plans Components of net periodic benefit cost for our pension plans for the three and nine months ended September 26, 2015 and September 27, 2014 were as follows: U.S. pension plans Three months ended Nine months ended In millions September 26, September 27, September 26, September 27, Service cost $ 3.5 $ 3.3 $ 10.5 $ 9.9 Interest cost 3.7 3.8 11.1 11.4 Expected return on plan assets (2.5 ) (2.6 ) (7.5 ) (7.8 ) Net periodic benefit cost $ 4.7 $ 4.5 $ 14.1 $ 13.5 Non-U.S. pension plans Three months ended Nine months ended In millions September 26, September 27, September 26, September 27, Service cost $ 2.6 $ 2.0 $ 7.8 $ 6.0 Interest cost 3.8 4.7 11.4 14.1 Expected return on plan assets (4.1 ) (4.2 ) (12.3 ) (12.6 ) Net periodic benefit cost $ 2.3 $ 2.5 $ 6.9 $ 7.5 Components of net periodic benefit cost for our other post-retirement plans for the three and nine months ended September 26, 2015 and September 27, 2014 were not material.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 26, 2015
Shareholders' Equity	Shareholders’ Equity Share repurchases In December 2014, the Board of Directors authorized the repurchase of our ordinary shares up to a maximum dollar limit of $1.0 billion . The authorization expires on December 31, 2019 . During the nine months ended September 26, 2015 , we repurchased 3.1 million of our shares for $200.0 million pursuant to this authorization. As of September 26, 2015 , we had $800.0 million remaining available for share repurchases under this authorization. Ordinary shares held in treasury In August 2015, we canceled all of our ordinary shares held in treasury. At the time of the cancellation, we held 19.1 million ordinary shares in treasury at a cost of $1.2 billion . Dividends payable On September 21, 2015, our Board of Directors declared a quarterly cash dividend of $0.32 per share payable on November 6, 2015 to shareholders of record at the close of business on October 23, 2015. On May 5, 2015, our Board of Directors declared a quarterly cash dividend of $0.32 per share which was paid on August 7, 2015 to shareholders of record at the close of business on July 24, 2015. At our 2014 annual meeting of shareholders held on May 20, 2014, our shareholders approved a proposal to pay quarterly cash dividends through the second quarter of 2015. The authorization provided that dividends of $1.20 per share be paid to our shareholders in quarterly installments of $0.30 for each of the third and fourth quarters of 2014 and the first and second quarters of 2015. In December 2014, the Board of Directors approved an increase of $0.02 per share for the 2015 first and second quarter dividends, bringing the total quarterly dividend for those quarters to $0.32 per share. As a result, the balance of dividends payable included in Other current liabilities on our Condensed Consolidated Balance Sheets was $57.7 million and $116.8 million at September 26, 2015 and December 31, 2014 , respectively.

Segment Information

Segment Information	9 Months Ended
	Sep. 26, 2015
Segment Information	Segment information During the first quarter of 2015, we reorganized our business segments to reflect a new operating structure and management of our Global Business Units, resulting in a change to our reporting segments in 2015. We evaluate performance based on net sales and segment income (loss) and use a variety of ratios to measure performance of our reporting segments. During the third quarter of 2015, we updated our segment income (loss) measure to exclude intangible amortization in order to better reflect the performance of our reporting segments. Segment income (loss) represents operating income (loss) exclusive of intangible amortization, certain acquisition related expenses, costs of restructuring activities, "mark-to-market" gain/loss for pension and other post-retirement plans, impairments and other unusual non-operating items. Financial information by reportable segment is as follows: Three months ended Nine months ended In millions September 26, September 27, September 26, September 27, Net sales Valves & Controls $ 440.9 $ 607.9 $ 1,366.5 $ 1,767.5 Flow & Filtration Solutions 362.7 394.1 1,087.4 1,219.7 Water Quality Systems 322.0 324.1 1,016.6 1,006.0 Technical Solutions 432.3 438.8 1,235.2 1,262.7 Other (5.8 ) (6.5 ) (17.4 ) (19.4 ) Consolidated $ 1,552.1 $ 1,758.4 $ 4,688.3 $ 5,236.5 Segment income (loss) Valves & Controls $ 55.7 $ 107.6 $ 175.5 $ 282.8 Flow & Filtration Solutions 52.8 53.5 145.0 157.6 Water Quality Systems 60.5 56.0 200.5 191.0 Technical Solutions 101.0 101.1 265.0 266.9 Other (20.8 ) (22.4 ) (65.1 ) (65.1 ) Consolidated $ 249.2 $ 295.8 $ 720.9 $ 833.2 The following table presents a reconciliation of consolidated segment income to consolidated operating income: Three months ended Nine months ended In millions September 26, September 27, September 26, September 27, Segment income $ 249.2 $ 295.8 $ 720.9 $ 833.2 Restructuring and other (25.3 ) — (50.8 ) (61.1 ) Intangible amortization (28.2 ) (28.4 ) (83.8 ) (85.9 ) Inventory step-up (1.4 ) — (2.9 ) — Deal related costs and expenses (14.3 ) — (14.3 ) — Redomicile related expenses — — — (10.3 ) Operating income $ 180.0 $ 267.4 $ 569.1 $ 675.9

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 26, 2015
Commitments and Contingencies	Commitments and Contingencies Asbestos Matters Our subsidiaries and numerous other companies are named as defendants in personal injury lawsuits based on alleged exposure to asbestos-containing materials. These cases typically involve product liability claims based primarily on allegations of manufacture, sale or distribution of industrial products that either contained asbestos or were attached to or used with asbestos-containing components manufactured by third-parties. Each case typically names between dozens to hundreds of corporate defendants. While we have observed an increase in the number of these lawsuits over the past several years, including lawsuits by plaintiffs with mesothelioma-related claims, a large percentage of these suits have not presented viable legal claims and, as a result, have been dismissed by the courts. Our historical strategy has been to mount a vigorous defense aimed at having unsubstantiated suits dismissed, and, where appropriate, settling suits before trial. Although a large percentage of litigated suits have been dismissed, we cannot predict the extent to which we will be successful in resolving lawsuits in the future. As of September 26, 2015 , there were approximately 4,200 claims outstanding against our subsidiaries. This amount includes adjustments for claims that are not actively being prosecuted. This amount is not adjusted for claims that identify incorrect defendants or duplicate other actions. In addition, the amount does not include certain claims pending against third parties for which we have been provided an indemnification. Periodically, we perform an analysis with the assistance of outside counsel and other experts to update our estimated asbestos-related assets and liabilities. Our estimate of the liability and corresponding insurance recovery for pending and future claims and defense costs is based on our historical claim experience and estimates of the number and resolution cost of potential future claims that may be filed. Our legal strategy for resolving claims also impacts these estimates. Our estimate of asbestos-related insurance recoveries represents estimated amounts due to us for previously paid and settled claims and the probable reimbursements relating to our estimated liability for pending and future claims. In determining the amount of insurance recoverable, we consider a number of factors, including available insurance, allocation methodologies and the solvency and creditworthiness of insurers. Our estimated liability for asbestos-related claims was $240.1 million and $249.1 million as of September 26, 2015 and December 31, 2014 , respectively, and was recorded in Other non-current liabilities in the Condensed Consolidated Balance Sheets for pending and future claims and related defense costs. Our estimated receivable for insurance recoveries was $111.3 million and $115.8 million as of September 26, 2015 and December 31, 2014 , respectively, and was recorded in Other non-current assets in the Condensed Consolidated Balance Sheets. The amounts recorded by us for asbestos-related liabilities and insurance-related assets are based on our strategies for resolving our asbestos claims and currently available information as well as estimates and assumptions. Key variables and assumptions include the number and type of new claims filed each year, the average cost of resolution of claims, the resolution of coverage issues with insurance carriers, the amounts of insurance and the related solvency risk with respect to our insurance carriers, and the indemnifications we have provided to and received from third parties. Furthermore, predictions with respect to these variables are subject to greater uncertainty in the latter portion of the projection period. Other factors that may affect our liability and cash payments for asbestos-related matters include uncertainties surrounding the litigation process from jurisdiction to jurisdiction and from case to case, reforms of state or federal tort legislation and the applicability of insurance policies among subsidiaries. As a result, actual liabilities or insurance recoveries could be significantly higher or lower than those recorded if assumptions used in our calculations vary significantly from actual results. Environmental Matters We are involved in or have retained responsibility and potential liability for environmental obligations and legal proceedings related to our current business and, including pursuant to certain indemnification obligations, related to certain formerly owned businesses. Our accruals for environmental matters are recorded on a site-by-site basis when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated, based on current law and existing technologies. Based upon our experience, current information regarding known contingencies and applicable laws, we have recorded reserves for these environmental matters of $22.5 million and $31.4 million as of September 26, 2015 and December 31, 2014 , respectively. We do not anticipate these environmental conditions will have a material adverse effect on our financial position, results of operations or cash flows. Warranties and guarantees In connection with the disposition of our businesses or product lines, we may agree to indemnify purchasers for various potential liabilities relating to the sold business, such as pre-closing tax, product liability, warranty, environmental, or other obligations. The subject matter, amounts and duration of any such indemnification obligations vary for each type of liability indemnified and may vary widely from transaction to transaction. Generally, the maximum obligation under such indemnifications is not explicitly stated and as a result, the overall amount of these obligations cannot be reasonably estimated. Historically, we have not made significant payments for these indemnifications. We believe that if we were to incur a loss in any of these matters, the loss would not have a material effect on our financial condition or results of operations. We recognize, at the inception of a guarantee, a liability for the fair value of the obligation undertaken in issuing the guarantee. We provide service and warranty policies on our products. Liability under service and warranty policies is based upon a review of historical warranty and service claim experience. Adjustments are made to accruals as claim data and historical experience warrant. The changes in the carrying amount of service and product warranties for the nine months ended September 26, 2015 were as follows: In millions September 26, Beginning balance $ 66.4 Service and product warranty provision 45.4 Payments (48.9 ) Foreign currency translation (1.8 ) Ending balance $ 61.1 Stand-by Letters of Credit, Bank Guarantees and Bonds In certain situations, Tyco International Ltd., Pentair Ltd,'s former parent company ("Tyco"), guaranteed performance by the flow control business of Pentair Ltd. ("Flow Control") to third parties or provided financial guarantees for financial commitments of Pentair Ltd. In situations where Flow Control and Tyco were unable to obtain a release from these guarantees in connection with the spin-off of Pentair Ltd., we will indemnify Tyco for any losses it suffers as a result of such guarantees. In disposing of assets or businesses, we often provide representations, warranties and indemnities to cover various risks including unknown damage to the assets, environmental risks involved in the sale of real estate, liability to investigate and remediate environmental contamination at waste disposal sites and manufacturing facilities and unidentified tax liabilities and legal fees related to periods prior to disposition. We do not have the ability to reasonably estimate the potential liability due to the inchoate and unknown nature of these potential liabilities. However, we have no reason to believe that these uncertainties would have a material adverse effect on our financial position, results of operations or cash flows. In the ordinary course of business, we are required to commit to bonds, letters of credit and bank guarantees that require payments to our customers for any non-performance. The outstanding face value of these instruments fluctuates with the value of our projects in process and in our backlog. In addition, we issue financial stand-by letters of credit primarily to secure our performance to third parties under self-insurance programs. As of September 26, 2015 and December 31, 2014 , the outstanding value of bonds, letters of credit and bank guarantees totaled $421.2 million and $370.1 million , respectively.

Financial Statements of Parent

Financial Statements of Parent Company Guarantor	9 Months Ended
	Sep. 26, 2015
Financial Statements of Parent Company Guarantor	Effective upon the Redomicile, Pentair plc (the "Parent Company Guarantor") and Pentair Investments Switzerland GmbH (the "Subsidiary Guarantor"), fully and unconditionally, guarantee the Notes of Pentair Finance S.A. (the "Subsidiary Issuer"). The Subsidiary Guarantor is a Switzerland limited liability company formed in April 2014 and 100 percent -owned subsidiary of the Parent Company Guarantor. The Subsidiary Issuer is a Luxembourg public limited liability company and 100 percent -owned subsidiary of the Subsidiary Guarantor. The guarantees provided by the Parent Company Guarantor and Subsidiary Guarantor are joint and several. The following supplemental financial information sets forth the Company’s Condensed Consolidating Statement of Operations and Comprehensive Income (Loss), Condensed Consolidating Balance Sheets and Condensed Consolidating Statement of Cash Flows by relevant group within the Company: Pentair plc and Pentair Investments Switzerland GmbH as the guarantors, Pentair Finance S.A. as issuer of the debt and all other non-guarantor subsidiaries. Condensed consolidating financial information for Pentair plc, Pentair Investments Switzerland GmbH and Pentair Finance S.A. on a stand-alone basis is presented using the equity method of accounting for subsidiaries. Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three months ended September 26, 2015 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ — $ 1,552.1 $ — $ 1,552.1 Cost of goods sold — — — 1,012.0 — 1,012.0 Gross profit — — — 540.1 — 540.1 Selling, general and administrative 17.7 0.1 1.7 310.7 — 330.2 Research and development — — — 29.9 — 29.9 Operating income (loss) (17.7 ) (0.1 ) (1.7 ) 199.5 — 180.0 Loss (earnings) from continuing operations of investment in subsidiaries (132.9 ) (133.0 ) (148.3 ) — 414.2 — Other (income) expense: Equity income of unconsolidated subsidiaries — — — (0.9 ) — (0.9 ) Net interest expense — — 18.0 13.3 — 31.3 Income (loss) from continuing operations before income taxes 115.2 132.9 128.6 187.1 (414.2 ) 149.6 Provision for income taxes — — — 34.4 — 34.4 Net income (loss) from continuing operations 115.2 132.9 128.6 152.7 (414.2 ) 115.2 Net income (loss) $ 115.2 $ 132.9 $ 128.6 $ 152.7 $ (414.2 ) $ 115.2 Comprehensive income (loss), net of tax Net income (loss) $ 115.2 $ 132.9 $ 128.6 $ 152.7 $ (414.2 ) $ 115.2 Changes in cumulative translation adjustment (85.8 ) (85.8 ) (85.8 ) (85.8 ) 257.4 (85.8 ) Changes in market value of derivative financial instruments (0.7 ) (0.7 ) (0.7 ) (0.7 ) 2.1 (0.7 ) Comprehensive income (loss) $ 28.7 $ 46.4 $ 42.1 $ 66.2 $ (154.7 ) $ 28.7 Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Nine months ended September 26, 2015 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ — $ 4,688.3 $ — $ 4,688.3 Cost of goods sold — — — 3,071.8 — 3,071.8 Gross profit — — — 1,616.5 — 1,616.5 Selling, general and administrative 30.4 0.2 3.8 924.3 — 958.7 Research and development — — — 88.7 — 88.7 Operating income (loss) (30.4 ) (0.2 ) (3.8 ) 603.5 — 569.1 Loss (earnings) from continuing operations of investment in subsidiaries (417.0 ) (418.5 ) (428.6 ) — 1,264.1 — Other (income) expense: Equity income of unconsolidated subsidiaries — — — (2.0 ) — (2.0 ) Net interest expense — 1.3 21.8 45.0 — 68.1 Income (loss) from continuing operations before income taxes 386.6 417.0 403.0 560.5 (1,264.1 ) 503.0 Provision (benefit) for income taxes (0.7 ) — — 116.4 — 115.7 Net income (loss) from continuing operations 387.3 417.0 403.0 444.1 (1,264.1 ) 387.3 Loss from discontinued operations, net of tax — — — (5.6 ) — (5.6 ) Loss from sale / impairment of discontinued operations, net of tax — — — (4.8 ) — (4.8 ) Earnings (loss) from discontinued operations of investment in subsidiaries (10.4 ) (10.4 ) (10.4 ) — 31.2 — Net income (loss) $ 376.9 $ 406.6 $ 392.6 $ 433.7 $ (1,232.9 ) $ 376.9 Comprehensive income (loss), net of tax Net income (loss) $ 376.9 $ 406.6 $ 392.6 $ 433.7 $ (1,232.9 ) $ 376.9 Changes in cumulative translation adjustment (238.4 ) (238.4 ) (238.4 ) (238.4 ) 715.2 (238.4 ) Changes in market value of derivative financial instruments (1.6 ) (1.6 ) (1.6 ) (1.6 ) 4.8 (1.6 ) Comprehensive income (loss) $ 136.9 $ 166.6 $ 152.6 $ 193.7 $ (512.9 ) $ 136.9 Condensed Consolidating Balance Sheet September 26, 2015 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Assets Current assets Cash and cash equivalents $ — $ — $ 0.2 $ 144.7 $ — $ 144.9 Accounts and notes receivable, net — — — 1,136.5 — 1,136.5 Inventories — — — 1,296.2 — 1,296.2 Other current assets 1.1 14.8 19.7 391.7 (41.6 ) 385.7 Current assets held for sale — — — 0.9 — 0.9 Total current assets 1.1 14.8 19.9 2,970.0 (41.6 ) 2,964.2 Property, plant and equipment, net — — — 921.4 — 921.4 Other assets Investments in subsidiaries 4,981.6 4,969.9 9,873.3 — (19,824.8 ) — Goodwill — — — 5,827.4 — 5,827.4 Intangibles, net — — — 2,515.6 — 2,515.6 Other non-current assets 36.9 — 1,232.6 367.5 (1,210.3 ) 426.7 Non-current assets held for sale — — — 15.6 — 15.6 Total other assets 5,018.5 4,969.9 11,105.9 8,726.1 (21,035.1 ) 8,785.3 Total assets $ 5,019.6 $ 4,984.7 $ 11,125.8 $ 12,617.5 $ (21,076.7 ) $ 12,670.9 Liabilities and Equity Current liabilities Current maturities of long-term debt and short-term borrowings $ — $ — $ — $ 3.2 $ — $ 3.2 Accounts payable 1.3 — 0.8 528.9 — 531.0 Employee compensation and benefits 0.3 0.1 — 264.2 — 264.6 Other current liabilities 66.1 1.4 15.8 652.2 (41.6 ) 693.9 Current liabilities held for sale — — — 3.5 — 3.5 Total current liabilities 67.7 1.5 16.6 1,452.0 (41.6 ) 1,496.2 Other liabilities Long-term debt 402.2 1.6 4,844.8 944.9 (1,210.3 ) 4,983.2 Pension and other post-retirement compensation and benefits — — — 301.6 — 301.6 Deferred tax liabilities — — 2.9 825.0 — 827.9 Other non-current liabilities 13.8 — — 511.8 — 525.6 Non-current liabilities held for sale — — — 0.5 — 0.5 Total liabilities 483.7 3.1 4,864.3 4,035.8 (1,251.9 ) 8,135.0 Equity 4,535.9 4,981.6 6,261.5 8,581.7 (19,824.8 ) 4,535.9 Total liabilities and equity $ 5,019.6 $ 4,984.7 $ 11,125.8 $ 12,617.5 $ (21,076.7 ) $ 12,670.9 Condensed Consolidating Statement of Cash Flows Nine months ended September 26, 2015 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Operating activities Net cash provided by (used for) operating activities $ 421.3 $ 393.3 $ 406.1 $ 408.1 $ (1,232.9 ) $ 395.9 Investing activities Capital expenditures — — — (100.6 ) — (100.6 ) Proceeds from sale of property and equipment — — — 24.8 — 24.8 Acquisitions, net of cash acquired — — — (1,913.0 ) — (1,913.0 ) Net intercompany loan activity — — 1,657.8 (149.8 ) (1,508.0 ) — Other — — — (0.8 ) — (0.8 ) Net cash provided by (used for) investing activities of continuing operations — — 1,657.8 (2,139.4 ) (1,508.0 ) (1,989.6 ) Net cash provided by (used for) investing activities of discontinued operations — — — 59.0 — 59.0 Net cash provided by (used for) investing activities — — 1,657.8 (2,080.4 ) (1,508.0 ) (1,930.6 ) Financing activities Net repayments of short-term borrowings — — — (2.0 ) — (2.0 ) Net receipts of commercial paper and revolving long-term debt — — 274.9 1.6 — 276.5 Proceeds from long-term debt — — 1,714.8 — — 1,714.8 Repayments of long-term debt — — — (4.6 ) — (4.6 ) Debt issuance costs — — (26.8 ) — — (26.8 ) Net change in advances to subsidiaries (48.0 ) (393.3 ) (4,021.2 ) 1,721.6 2,740.9 — Excess tax benefits from share-based compensation — — — 6.0 — 6.0 Shares issued to employees, net of shares withheld — — — 21.9 — 21.9 Repurchases of ordinary shares (200.0 ) — — — — (200.0 ) Dividends paid (173.3 ) — — — — (173.3 ) Net cash provided by (used for) financing activities (421.3 ) (393.3 ) (2,058.3 ) 1,744.5 2,740.9 1,612.5 Effect of exchange rate changes on cash and cash equivalents — — (5.5 ) (37.8 ) — (43.3 ) Change in cash and cash equivalents — — 0.1 34.4 — 34.5 Cash and cash equivalents, beginning of period — — 0.1 110.3 — 110.4 Cash and cash equivalents, end of period $ — $ — $ 0.2 $ 144.7 $ — $ 144.9 Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three months ended September 27, 2014 In millions Parent Subsidiary Subsidiary Non-guarantor Eliminations Consolidated Net sales $ — $ — $ — $ 1,758.4 $ — $ 1,758.4 Cost of goods sold — — — 1,133.7 — 1,133.7 Gross profit — — — 624.7 — 624.7 Selling, general and administrative 3.2 1.5 0.8 323.3 — 328.8 Research and development — — — 28.5 — 28.5 Operating income (loss) (3.2 ) (1.5 ) (0.8 ) 272.9 — 267.4 Loss (earnings) from continuing operations of investment in subsidiaries (195.7 ) (198.1 ) (206.3 ) — 600.1 — Other (income) expense: Equity income of unconsolidated subsidiaries — — — (0.3 ) — (0.3 ) Loss on sale of business — — — — — — Net interest expense — 0.9 1.0 15.2 — 17.1 Income (loss) from continuing operations before income taxes 192.5 195.7 204.5 258.0 (600.1 ) 250.6 Provision for income taxes — — 58.1 — 58.1 Net income (loss) from continuing operations 192.5 195.7 204.5 199.9 (600.1 ) 192.5 Income from discontinued operations, net of tax — — — 1.6 — 1.6 Loss from sale of discontinued operations, net of tax — — — (380.1 ) — (380.1 ) Earnings (loss) from discontinued operations of investment in subsidiaries (378.5 ) (378.5 ) (378.5 ) — 1,135.5 — Net income (loss) $ (186.0 ) $ (182.8 ) $ (174.0 ) $ (178.6 ) $ 535.4 $ (186.0 ) Comprehensive income (loss), net of tax Net income (loss) $ (186.0 ) $ (182.8 ) $ (174.0 ) $ (178.6 ) $ 535.4 $ (186.0 ) Changes in cumulative translation adjustment (178.8 ) (178.8 ) (178.8 ) (178.8 ) 536.4 (178.8 ) Changes in market value of derivative financial instruments 0.8 0.8 0.8 0.8 (2.4 ) 0.8 Comprehensive income (loss) $ (364.0 ) $ (360.8 ) $ (352.0 ) $ (356.6 ) $ 1,069.4 $ (364.0 ) Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Nine months ended September 27, 2014 In millions Parent Subsidiary Subsidiary Non-guarantor Eliminations Consolidated Net sales $ — $ — $ — $ 5,236.5 $ — $ 5,236.5 Cost of goods sold — — — 3,401.4 — 3,401.4 Gross profit — — — 1,835.1 — 1,835.1 Selling, general and administrative 10.6 4.2 6.8 1,049.4 — 1,071.0 Research and development — — — 88.2 — 88.2 Operating income (loss) (10.6 ) (4.2 ) (6.8 ) 697.5 — 675.9 Loss (earnings) from continuing operations of investment in subsidiaries (488.5 ) (493.9 ) (484.0 ) — 1,466.4 — Other (income) expense: Equity income of unconsolidated subsidiaries — — — (0.9 ) — (0.9 ) Loss on sale of business — — — 0.2 — 0.2 Net interest expense 0.7 1.2 2.0 47.2 — 51.1 Income (loss) from continuing operations before income taxes 477.2 488.5 475.2 651.0 (1,466.4 ) 625.5 Provision for income taxes — — 1.0 147.3 — 148.3 Net income (loss) from continuing operations 477.2 488.5 474.2 503.7 (1,466.4 ) 477.2 Income from discontinued operations, net of tax — — — 2.6 — 2.6 Loss from sale/impairment of discontinued operations, net of tax — — — (385.7 ) — (385.7 ) Earnings (loss) from discontinued operations of investment in subsidiaries (383.1 ) (383.1 ) (383.1 ) — 1,149.3 — Net income (loss) $ 94.1 $ 105.4 $ 91.1 $ 120.6 $ (317.1 ) $ 94.1 Comprehensive income (loss), net of tax Net income (loss) before noncontrolling interest $ 94.1 $ 105.4 $ 91.1 $ 120.6 $ (317.1 ) $ 94.1 Changes in cumulative translation adjustment (190.3 ) (190.3 ) (190.3 ) (190.3 ) 570.9 (190.3 ) Changes in market value of derivative financial instruments 1.2 1.2 1.2 1.2 (3.6 ) 1.2 Comprehensive income (loss) $ (95.0 ) $ (83.7 ) $ (98.0 ) $ (68.5 ) $ 250.2 $ (95.0 ) Condensed Consolidating Balance Sheet December 31, 2014 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Assets Current assets Cash and cash equivalents $ — $ — $ 0.1 $ 110.3 $ — $ 110.4 Accounts and notes receivable, net — — — 1,206.8 (0.9 ) 1,205.9 Inventories — — — 1,130.4 — 1,130.4 Other current assets — 17.6 2.0 367.6 (20.4 ) 366.8 Current assets held for sale — — — 80.6 — 80.6 Total current assets — 17.6 2.1 2,895.7 (21.3 ) 2,894.1 Property, plant and equipment, net — — — 950.0 — 950.0 Other assets Investments in subsidiaries 4,733.0 4,893.8 7,612.2 — (17,239.0 ) — Goodwill — — — 4,741.9 — 4,741.9 Intangibles, net — — — 1,608.1 — 1,608.1 Other non-current assets 80.2 — 1,381.8 345.0 (1,370.8 ) 436.2 Non-current assets held for sale — — — 24.9 — 24.9 Total other assets 4,813.2 4,893.8 8,994.0 6,719.9 (18,609.8 ) 6,811.1 Total assets $ 4,813.2 $ 4,911.4 $ 8,996.1 $ 10,565.6 $ (18,631.1 ) $ 10,655.2 Liabilities and Equity Current liabilities Current maturities of long-term debt and short-term borrowings $ — $ — $ — $ 6.7 $ — $ 6.7 Accounts payable 0.9 — — 583.1 (0.9 ) 583.1 Employee compensation and benefits 0.2 0.6 — 304.7 — 305.5 Other current liabilities 120.6 2.2 10.9 595.8 (20.4 ) 709.1 Current liabilities held for sale — — — 35.1 — 35.1 Total current liabilities 121.7 2.8 10.9 1,525.4 (21.3 ) 1,639.5 Other liabilities Long-term debt 11.4 175.6 2,860.6 1,320.6 (1,370.8 ) 2,997.4 Pension and other post-retirement compensation and benefits — — — 322.0 — 322.0 Deferred tax liabilities — — 2.9 525.4 — 528.3 Other non-current liabilities 16.3 — — 481.4 — 497.7 Non-current liabilities held for sale — — — 6.5 — 6.5 Total liabilities 149.4 178.4 2,874.4 4,181.3 (1,392.1 ) 5,991.4 Equity 4,663.8 4,733.0 6,121.7 6,384.3 (17,239.0 ) 4,663.8 Total liabilities and equity $ 4,813.2 $ 4,911.4 $ 8,996.1 $ 10,565.6 $ (18,631.1 ) $ 10,655.2 Condensed Consolidating Statement of Cash Flows Nine months ended September 27, 2014 In millions Parent Subsidiary Subsidiary Non-guarantor Eliminations Consolidated Operating activities Net cash provided by (used for) operating activities $ 99.4 $ 94.2 $ 88.1 $ 718.8 $ (317.1 ) $ 683.4 Investing activities Capital expenditures — — — (92.5 ) — (92.5 ) Proceeds from sale of property and equipment — — — 4.1 — 4.1 Other — — — 0.9 — 0.9 Net cash provided by (used for) investing activities — — — (87.5 ) — (87.5 ) Financing activities Net receipts of short-term borrowings — — — 0.3 — 0.3 Net receipts of commercial paper and revolving long-term debt — — 416.7 9.5 — 426.2 Repayments of long-term debt — — — (13.2 ) — (13.2 ) Excess tax benefits from share-based compensation — — — 10.0 — 10.0 Net change in advances to subsidiaries 455.6 (94.2 ) (551.6 ) (126.9 ) 317.1 — Shares issued to employees, net of shares withheld — — — 30.3 — 30.3 Repurchases of ordinary shares (399.3 ) — — (450.7 ) — (850.0 ) Dividends paid (156.2 ) — — — — (156.2 ) Purchase of noncontrolling interest — — — (134.7 ) — (134.7 ) Net cash provided by (used for) financing activities (99.9 ) (94.2 ) (134.9 ) (675.4 ) 317.1 (687.3 ) Effect of exchange rate changes on cash and cash equivalents — — — (8.0 ) — (8.0 ) Change in cash and cash equivalents (0.5 ) — (46.8 ) (52.1 ) — (99.4 ) Cash and cash equivalents, beginning of period 0.5 — 47.0 208.5 — 256.0 Cash and cash equivalents, end of period $ — $ — $ 0.2 $ 156.4 $ — $ 156.6

Acquisitions Acquisitions (Tabl

Acquisitions Acquisitions (Tables)	9 Months Ended
	Sep. 26, 2015
Schedule of Business Acquisition Allocation of Purchase Price [Table Text Block]	In millions Cash $ 11.6 Accounts receivable 76.7 Inventories 99.0 Other current assets 9.5 Property, plant and equipment 27.0 Identifiable intangible assets 964.6 Goodwill 1,102.8 Current liabilities (96.0 ) Deferred income taxes, including current (373.0 ) Other liabilities (4.1 ) Purchase price $ 1,818.1
Business Acquisition, Pro Forma Information [Table Text Block]	Three months ended Nine months ended In millions, except per-share data September 26, September 27, September 26, September 27, Pro forma net sales $ 1,670.9 $ 1,906.4 $ 5,074.5 $ 5,659.8 Pro forma net income from continuing operations 152.2 200.3 433.5 481.3 Pro forma earnings per ordinary share - continuing operations Basic $ 0.84 $ 1.05 $ 2.41 $ 2.48 Diluted 0.83 1.03 2.38 2.44

Discontinued Operations and D25

Discontinued Operations and Divestitures (Tables)	9 Months Ended
	Sep. 26, 2015
Business Combinations [Abstract]
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]	Three months ended Nine months ended In millions September 26, September 27, September 26, September 27, Net sales $ — $ 74.8 $ 18.6 $ 235.4 Cost of goods sold — 65.1 18.1 198.9 Gross profit $ — $ 9.7 $ 0.5 $ 36.5 Income (loss) from discontinued operations before income taxes $ — $ 0.2 $ (7.1 ) $ 0.3 Income tax benefit — 1.4 1.5 2.3 Income (loss) from discontinued operations, net of tax $ — $ 1.6 $ (5.6 ) $ 2.6 Loss from sale / impairment of discontinued operations before income taxes $ — $ (392.4 ) $ (4.8 ) $ (400.4 ) Income tax benefit — 12.3 — 14.7 Loss from sale / impairment of discontinued operations, net of tax $ — $ (380.1 ) $ (4.8 ) $ (385.7 ) The carrying amounts of major classes of assets and liabilities that were classified as held for sale on the Condensed Consolidated Balance Sheets were as follows: In millions September 26, December 31, Cash and cash equivalents $ — $ 7.0 Accounts and notes receivable, net — 28.8 Inventories — 30.1 Other current assets 0.9 14.7 Current assets held for sale $ 0.9 $ 80.6 Property, plant and equipment, net $ 15.6 $ 18.5 Other non-current assets — 6.4 Non-current assets held for sale $ 15.6 $ 24.9 Accounts payable — 12.2 Employee compensation and benefits — 11.3 Other current liabilities 3.5 11.6 Current liabilities held for sale $ 3.5 $ 35.1 Long-term debt $ — $ 4.0 Pension and other post-retirement compensation and benefits — 2.5 Deferred tax liabilities 0.5 — Non-current liabilities held for sale $ 0.5 $ 6.5

Share Plans (Tables)

Share Plans (Tables)	9 Months Ended
	Sep. 26, 2015
Share-based Compensation Expense	Total share-based compensation expense for the three and nine months ended September 26, 2015 and September 27, 2014 was as follows: Three months ended Nine months ended In millions September 26, September 27, September 26, September 27, Restricted stock units $ 5.4 $ 5.6 $ 17.9 $ 16.7 Stock options 2.7 2.7 9.6 8.1 Total share-based compensation expense $ 8.1 $ 8.3 $ 27.5 $ 24.8
Assumptions Used in Calculating Estimated Fair Value of Stock Option Award	We estimated the fair value of each stock option award issued in the annual share-based compensation grant using a Black-Scholes option pricing model, modified for dividends and using the following assumptions: 2015 Annual Grant Risk-free interest rate 1.61 % Expected dividend yield 1.96 % Expected share price volatility 30.4 % Expected term (years) 6.0

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 26, 2015
Restructuring Related Costs	Restructuring related costs included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) included costs for severance and other restructuring costs as follows: Three months ended Nine months ended In millions September 26, September 27, September 26, September 27, Severance and related costs $ 14.6 $ — $ 35.2 $ 34.6 Other 10.6 — 14.0 18.3 Total restructuring costs $ 25.2 $ — $ 49.2 $ 52.9
Restructuring Costs By Segment [Table Text Block]	Restructuring costs by reportable segment for the three and nine months ended September 26, 2015 and September 27, 2014 were as follows: Three months ended Nine months ended In millions September 26, September 27, September 26, September 27, Valves & Controls $ 18.0 $ — $ 31.6 $ 27.7 Flow & Filtration Solutions 3.5 — 7.2 12.3 Water Quality Systems 1.5 — 4.8 7.1 Technical Solutions 2.2 — 5.6 5.8 Consolidated $ 25.2 $ — $ 49.2 $ 52.9
Restructuring Accrual Activity Recorded on Consolidated Balance Sheets	Activity in the restructuring accrual recorded in Other current liabilities and Employee compensation and benefits in the Condensed Consolidated Balance Sheets is summarized as follows for the nine months ended September 26, 2015 : In millions September 26, Beginning balance $ 73.4 Costs incurred 35.2 Cash payments and other (37.4 ) Ending balance $ 71.2

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 26, 2015
Basic and Diluted Earnings Per Share	Basic and diluted earnings (loss) per share were calculated as follows: Three months ended Nine months ended In millions, except per-share data September 26, September 27, September 26, September 27, Net income (loss) $ 115.2 $ (186.0 ) $ 376.9 $ 94.1 Net income from continuing operations $ 115.2 $ 192.5 $ 387.3 $ 477.2 Weighted average ordinary shares outstanding Basic 180.2 190.2 180.1 193.2 Dilutive impact of stock options and restricted stock units 2.4 2.9 2.5 3.2 Diluted 182.6 193.1 182.6 196.4 Earnings (loss) per ordinary share Basic Continuing operations $ 0.64 $ 1.01 $ 2.15 $ 2.47 Discontinued operations — (1.99 ) (0.06 ) (1.98 ) Basic earnings (loss) per ordinary share $ 0.64 $ (0.98 ) $ 2.09 $ 0.49 Diluted Continuing operations $ 0.63 $ 1.00 $ 2.12 $ 2.43 Discontinued operations — (1.95 ) (0.06 ) (1.95 ) Diluted earnings (loss) per ordinary share $ 0.63 $ (0.95 ) $ 2.06 $ 0.48 Anti-dilutive stock options excluded from the calculation of diluted earnings per share 1.2 0.5 1.2 0.5

Supplemental Balance Sheet In29

Supplemental Balance Sheet Information (Tables)	9 Months Ended
	Sep. 26, 2015
Supplemental Balance Sheet Information	In millions September 26, December 31, Inventories Raw materials and supplies $ 445.9 $ 460.1 Work-in-process 277.3 229.0 Finished goods 573.0 441.3 Total inventories $ 1,296.2 $ 1,130.4 Other current assets Cost in excess of billings $ 125.6 $ 103.5 Prepaid expenses 111.2 109.6 Deferred income taxes 126.3 139.4 Other current assets 22.6 14.3 Total other current assets $ 385.7 $ 366.8 Property, plant and equipment, net Land and land improvements $ 145.1 $ 165.1 Buildings and leasehold improvements 507.1 493.5 Machinery and equipment 1,282.6 1,169.1 Construction in progress 75.0 71.0 Total property, plant and equipment 2,009.8 1,898.7 Accumulated depreciation and amortization 1,088.4 948.7 Total property, plant and equipment, net $ 921.4 $ 950.0 Other non-current assets Asbestos-related insurance receivable $ 111.3 $ 115.8 Deferred income taxes 92.1 87.9 Other non-current assets 223.3 232.5 Total other non-current assets $ 426.7 $ 436.2 Other current liabilities Deferred revenue and customer deposits $ 99.6 $ 112.7 Dividends payable 57.7 116.8 Billings in excess of cost 38.1 41.4 Accrued warranty 61.1 66.4 Other current liabilities 437.4 371.8 Total other current liabilities $ 693.9 $ 709.1 Other non-current liabilities Asbestos-related liabilities $ 240.1 $ 249.1 Taxes payable 63.9 61.6 Other non-current liabilities 221.6 187.0 Total other non-current liabilities $ 525.6 $ 497.7

Goodwill and Other Identifiab30

Goodwill and Other Identifiable Intangible Assets (Tables)	9 Months Ended
	Sep. 26, 2015
Carrying Amount of Goodwill by Segment	The changes in the carrying amount of goodwill by segment were as follows: In millions December 31, Acquisitions/ divestitures Foreign currency translation/other September 26, Valves & Controls $ 1,511.6 $ — $ — $ 1,511.6 Flow & Filtration Solutions 942.4 — (51.8 ) 890.6 Water Quality Systems 1,137.6 — (14.7 ) 1,122.9 Technical Solutions 1,150.3 1,160.9 (8.9 ) 2,302.3 Total goodwill $ 4,741.9 $ 1,160.9 $ (75.4 ) $ 5,827.4
Detail of Identifiable Intangible Assets	Identifiable intangible assets consisted of the following: September 26, December 31, In millions Cost Accumulated amortization Net Cost Accumulated amortization Net Finite-life intangibles Customer relationships $ 1,976.4 $ (384.3 ) $ 1,592.1 $ 1,247.8 $ (325.2 ) $ 922.6 Trade names 1.8 (1.2 ) 0.6 2.0 (1.1 ) 0.9 Proprietary technology and patents 250.3 (109.5 ) 140.8 255.7 (96.7 ) 159.0 Total finite-life intangibles $ 2,228.5 $ (495.0 ) $ 1,733.5 $ 1,505.5 $ (423.0 ) $ 1,082.5 Indefinite-life intangibles Trade names 782.1 — 782.1 525.6 — 525.6 Total intangibles, net $ 3,010.6 $ (495.0 ) $ 2,515.6 $ 2,031.1 $ (423.0 ) $ 1,608.1
Estimated Future Amortization Expense for Identifiable Intangible Assets	Estimated future amortization expense for identifiable intangible assets during the remainder of 2015 and the next five years is as follows: Q4 In millions 2015 2016 2017 2018 2019 2020 Estimated amortization expense $ 39.4 $ 157.4 $ 155.9 $ 153.5 $ 146.7 $ 141.6

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 26, 2015
Debt and Average Interest Rates on Debt Outstanding	Debt and the average interest rates on debt outstanding were as follows: In millions Average interest rate at September 26, 2015 Maturity Year September 26, December 31, Commercial paper 0.885% 2019 $ 1,082.4 $ 987.6 Revolving credit facilities 1.451% 2019 191.5 9.8 Senior notes - fixed rate 1.350% 2015 350.0 350.0 Senior notes - fixed rate 1.875% 2017 350.0 350.0 Senior notes - fixed rate 2.900% 2018 500.0 — Senior notes - fixed rate 2.650% 2019 250.0 250.0 Senior notes - fixed rate - Euro 2.450% 2019 559.3 — Senior notes - fixed rate 3.625% 2020 400.0 — Senior notes - fixed rate 5.000% 2021 500.0 500.0 Senior notes - fixed rate 3.150% 2022 550.0 550.0 Senior notes - fixed rate 4.650% 2025 250.0 — Capital lease obligations and other 8.284% 2016 3.2 6.7 Total debt 4,986.4 3,004.1 Less: Current maturities and short-term borrowings (3.2 ) (6.7 ) Long-term debt $ 4,983.2 $ 2,997.4
Debt Outstanding Matures on Calendar Year Basis	Debt outstanding at September 26, 2015 matures on a calendar year basis as follows: Q4 In millions 2015 2016 2017 2018 2019 2020 Thereafter Total Contractual debt obligation maturities $ 350.3 $ — $ 350.0 $ 500.0 $ 2,083.2 $ 400.0 $ 1,300.0 $ 4,983.5 Capital lease obligations 1.7 1.2 — — — — — 2.9 Total maturities $ 352.0 $ 1.2 $ 350.0 $ 500.0 $ 2,083.2 $ 400.0 $ 1,300.0 $ 4,986.4

Derivatives and Financial Ins32

Derivatives and Financial Instruments (Tables)	9 Months Ended
	Sep. 26, 2015
Recorded Amounts and Estimated Fair Values of Long-term Debt and Derivative Financial Instruments	The recorded amounts and estimated fair values of total debt were as follows: September 26, December 31, In millions Recorded Amount Fair Value Recorded Amount Fair Value Variable rate debt $ 1,274.2 $ 1,274.2 $ 997.4 $ 997.4 Fixed rate debt 3,712.2 3,782.1 2,006.7 2,070.4 Total debt $ 4,986.4 $ 5,056.3 $ 3,004.1 $ 3,067.8
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	Financial assets and liabilities measured at fair value on a recurring and nonrecurring basis were as follows: September 26, In millions Level 1 Level 2 Level 3 Total Recurring fair value measurements Foreign currency contract liabilities $ — $ (13.5 ) $ — $ (13.5 ) Deferred compensation plan assets (1) 42.2 8.0 — 50.2 Total recurring fair value measurements $ 42.2 $ (5.5 ) $ — $ 36.7 December 31, In millions Level 1 Level 2 Level 3 Total Recurring fair value measurements Foreign currency contract assets $ — $ 0.9 $ — $ 0.9 Foreign currency contract liabilities — (6.6 ) — (6.6 ) Deferred compensation plan assets (1) 47.9 7.4 — 55.3 Total recurring fair value measurements $ 47.9 $ 1.7 $ — $ 49.6 Nonrecurring fair value measurements (2) (1) Deferred compensation plan assets include mutual funds, common/collective trusts and cash equivalents for payment of certain non-qualified benefits for retired, terminated and active employees. The fair value of mutual funds and cash equivalents were based on quoted market prices in active markets. The underlying investments in the common/collective trusts primarily include intermediate and long-term debt securities, corporate debt securities, equity securities and fixed income securities. The overall fair value of the common/collective trusts are based on observable inputs. (2) During the third quarter of 2014, we recognized an impairment charge related to allocated amounts of goodwill, intangible assets, property, plant & equipment and other non-current assets totaling $380.1 million , net of a $12.3 million tax benefit, representing our estimated loss on disposal of the Water Transport business. The impairment charge was determined using significant unobservable inputs (Level 3 fair value measurements).

Benefit Plans (Tables)

Benefit Plans (Tables)	9 Months Ended
	Sep. 26, 2015
Schedule of Net Benefit Costs	U.S. pension plans Three months ended Nine months ended In millions September 26, September 27, September 26, September 27, Service cost $ 3.5 $ 3.3 $ 10.5 $ 9.9 Interest cost 3.7 3.8 11.1 11.4 Expected return on plan assets (2.5 ) (2.6 ) (7.5 ) (7.8 ) Net periodic benefit cost $ 4.7 $ 4.5 $ 14.1 $ 13.5 Non-U.S. pension plans Three months ended Nine months ended In millions September 26, September 27, September 26, September 27, Service cost $ 2.6 $ 2.0 $ 7.8 $ 6.0 Interest cost 3.8 4.7 11.4 14.1 Expected return on plan assets (4.1 ) (4.2 ) (12.3 ) (12.6 ) Net periodic benefit cost $ 2.3 $ 2.5 $ 6.9 $ 7.5

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 26, 2015
Financial Information by Reportable Segment	Financial information by reportable segment is as follows: Three months ended Nine months ended In millions September 26, September 27, September 26, September 27, Net sales Valves & Controls $ 440.9 $ 607.9 $ 1,366.5 $ 1,767.5 Flow & Filtration Solutions 362.7 394.1 1,087.4 1,219.7 Water Quality Systems 322.0 324.1 1,016.6 1,006.0 Technical Solutions 432.3 438.8 1,235.2 1,262.7 Other (5.8 ) (6.5 ) (17.4 ) (19.4 ) Consolidated $ 1,552.1 $ 1,758.4 $ 4,688.3 $ 5,236.5 Segment income (loss) Valves & Controls $ 55.7 $ 107.6 $ 175.5 $ 282.8 Flow & Filtration Solutions 52.8 53.5 145.0 157.6 Water Quality Systems 60.5 56.0 200.5 191.0 Technical Solutions 101.0 101.1 265.0 266.9 Other (20.8 ) (22.4 ) (65.1 ) (65.1 ) Consolidated $ 249.2 $ 295.8 $ 720.9 $ 833.2
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]	The following table presents a reconciliation of consolidated segment income to consolidated operating income: Three months ended Nine months ended In millions September 26, September 27, September 26, September 27, Segment income $ 249.2 $ 295.8 $ 720.9 $ 833.2 Restructuring and other (25.3 ) — (50.8 ) (61.1 ) Intangible amortization (28.2 ) (28.4 ) (83.8 ) (85.9 ) Inventory step-up (1.4 ) — (2.9 ) — Deal related costs and expenses (14.3 ) — (14.3 ) — Redomicile related expenses — — — (10.3 ) Operating income $ 180.0 $ 267.4 $ 569.1 $ 675.9

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 26, 2015
Changes in Carrying Amount of Service and Product Warranties	The changes in the carrying amount of service and product warranties for the nine months ended September 26, 2015 were as follows: In millions September 26, Beginning balance $ 66.4 Service and product warranty provision 45.4 Payments (48.9 ) Foreign currency translation (1.8 ) Ending balance $ 61.1

Financial Statements of Paren36

Financial Statements of Parent Company Guarantor (Tables)	9 Months Ended
	Sep. 26, 2015
Schedule of Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)	Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three months ended September 26, 2015 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ — $ 1,552.1 $ — $ 1,552.1 Cost of goods sold — — — 1,012.0 — 1,012.0 Gross profit — — — 540.1 — 540.1 Selling, general and administrative 17.7 0.1 1.7 310.7 — 330.2 Research and development — — — 29.9 — 29.9 Operating income (loss) (17.7 ) (0.1 ) (1.7 ) 199.5 — 180.0 Loss (earnings) from continuing operations of investment in subsidiaries (132.9 ) (133.0 ) (148.3 ) — 414.2 — Other (income) expense: Equity income of unconsolidated subsidiaries — — — (0.9 ) — (0.9 ) Net interest expense — — 18.0 13.3 — 31.3 Income (loss) from continuing operations before income taxes 115.2 132.9 128.6 187.1 (414.2 ) 149.6 Provision for income taxes — — — 34.4 — 34.4 Net income (loss) from continuing operations 115.2 132.9 128.6 152.7 (414.2 ) 115.2 Net income (loss) $ 115.2 $ 132.9 $ 128.6 $ 152.7 $ (414.2 ) $ 115.2 Comprehensive income (loss), net of tax Net income (loss) $ 115.2 $ 132.9 $ 128.6 $ 152.7 $ (414.2 ) $ 115.2 Changes in cumulative translation adjustment (85.8 ) (85.8 ) (85.8 ) (85.8 ) 257.4 (85.8 ) Changes in market value of derivative financial instruments (0.7 ) (0.7 ) (0.7 ) (0.7 ) 2.1 (0.7 ) Comprehensive income (loss) $ 28.7 $ 46.4 $ 42.1 $ 66.2 $ (154.7 ) $ 28.7 Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Nine months ended September 26, 2015 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ — $ 4,688.3 $ — $ 4,688.3 Cost of goods sold — — — 3,071.8 — 3,071.8 Gross profit — — — 1,616.5 — 1,616.5 Selling, general and administrative 30.4 0.2 3.8 924.3 — 958.7 Research and development — — — 88.7 — 88.7 Operating income (loss) (30.4 ) (0.2 ) (3.8 ) 603.5 — 569.1 Loss (earnings) from continuing operations of investment in subsidiaries (417.0 ) (418.5 ) (428.6 ) — 1,264.1 — Other (income) expense: Equity income of unconsolidated subsidiaries — — — (2.0 ) — (2.0 ) Net interest expense — 1.3 21.8 45.0 — 68.1 Income (loss) from continuing operations before income taxes 386.6 417.0 403.0 560.5 (1,264.1 ) 503.0 Provision (benefit) for income taxes (0.7 ) — — 116.4 — 115.7 Net income (loss) from continuing operations 387.3 417.0 403.0 444.1 (1,264.1 ) 387.3 Loss from discontinued operations, net of tax — — — (5.6 ) — (5.6 ) Loss from sale / impairment of discontinued operations, net of tax — — — (4.8 ) — (4.8 ) Earnings (loss) from discontinued operations of investment in subsidiaries (10.4 ) (10.4 ) (10.4 ) — 31.2 — Net income (loss) $ 376.9 $ 406.6 $ 392.6 $ 433.7 $ (1,232.9 ) $ 376.9 Comprehensive income (loss), net of tax Net income (loss) $ 376.9 $ 406.6 $ 392.6 $ 433.7 $ (1,232.9 ) $ 376.9 Changes in cumulative translation adjustment (238.4 ) (238.4 ) (238.4 ) (238.4 ) 715.2 (238.4 ) Changes in market value of derivative financial instruments (1.6 ) (1.6 ) (1.6 ) (1.6 ) 4.8 (1.6 ) Comprehensive income (loss) $ 136.9 $ 166.6 $ 152.6 $ 193.7 $ (512.9 ) $ 136.9 Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three months ended September 27, 2014 In millions Parent Subsidiary Subsidiary Non-guarantor Eliminations Consolidated Net sales $ — $ — $ — $ 1,758.4 $ — $ 1,758.4 Cost of goods sold — — — 1,133.7 — 1,133.7 Gross profit — — — 624.7 — 624.7 Selling, general and administrative 3.2 1.5 0.8 323.3 — 328.8 Research and development — — — 28.5 — 28.5 Operating income (loss) (3.2 ) (1.5 ) (0.8 ) 272.9 — 267.4 Loss (earnings) from continuing operations of investment in subsidiaries (195.7 ) (198.1 ) (206.3 ) — 600.1 — Other (income) expense: Equity income of unconsolidated subsidiaries — — — (0.3 ) — (0.3 ) Loss on sale of business — — — — — — Net interest expense — 0.9 1.0 15.2 — 17.1 Income (loss) from continuing operations before income taxes 192.5 195.7 204.5 258.0 (600.1 ) 250.6 Provision for income taxes — — 58.1 — 58.1 Net income (loss) from continuing operations 192.5 195.7 204.5 199.9 (600.1 ) 192.5 Income from discontinued operations, net of tax — — — 1.6 — 1.6 Loss from sale of discontinued operations, net of tax — — — (380.1 ) — (380.1 ) Earnings (loss) from discontinued operations of investment in subsidiaries (378.5 ) (378.5 ) (378.5 ) — 1,135.5 — Net income (loss) $ (186.0 ) $ (182.8 ) $ (174.0 ) $ (178.6 ) $ 535.4 $ (186.0 ) Comprehensive income (loss), net of tax Net income (loss) $ (186.0 ) $ (182.8 ) $ (174.0 ) $ (178.6 ) $ 535.4 $ (186.0 ) Changes in cumulative translation adjustment (178.8 ) (178.8 ) (178.8 ) (178.8 ) 536.4 (178.8 ) Changes in market value of derivative financial instruments 0.8 0.8 0.8 0.8 (2.4 ) 0.8 Comprehensive income (loss) $ (364.0 ) $ (360.8 ) $ (352.0 ) $ (356.6 ) $ 1,069.4 $ (364.0 ) Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Nine months ended September 27, 2014 In millions Parent Subsidiary Subsidiary Non-guarantor Eliminations Consolidated Net sales $ — $ — $ — $ 5,236.5 $ — $ 5,236.5 Cost of goods sold — — — 3,401.4 — 3,401.4 Gross profit — — — 1,835.1 — 1,835.1 Selling, general and administrative 10.6 4.2 6.8 1,049.4 — 1,071.0 Research and development — — — 88.2 — 88.2 Operating income (loss) (10.6 ) (4.2 ) (6.8 ) 697.5 — 675.9 Loss (earnings) from continuing operations of investment in subsidiaries (488.5 ) (493.9 ) (484.0 ) — 1,466.4 — Other (income) expense: Equity income of unconsolidated subsidiaries — — — (0.9 ) — (0.9 ) Loss on sale of business — — — 0.2 — 0.2 Net interest expense 0.7 1.2 2.0 47.2 — 51.1 Income (loss) from continuing operations before income taxes 477.2 488.5 475.2 651.0 (1,466.4 ) 625.5 Provision for income taxes — — 1.0 147.3 — 148.3 Net income (loss) from continuing operations 477.2 488.5 474.2 503.7 (1,466.4 ) 477.2 Income from discontinued operations, net of tax — — — 2.6 — 2.6 Loss from sale/impairment of discontinued operations, net of tax — — — (385.7 ) — (385.7 ) Earnings (loss) from discontinued operations of investment in subsidiaries (383.1 ) (383.1 ) (383.1 ) — 1,149.3 — Net income (loss) $ 94.1 $ 105.4 $ 91.1 $ 120.6 $ (317.1 ) $ 94.1 Comprehensive income (loss), net of tax Net income (loss) before noncontrolling interest $ 94.1 $ 105.4 $ 91.1 $ 120.6 $ (317.1 ) $ 94.1 Changes in cumulative translation adjustment (190.3 ) (190.3 ) (190.3 ) (190.3 ) 570.9 (190.3 ) Changes in market value of derivative financial instruments 1.2 1.2 1.2 1.2 (3.6 ) 1.2 Comprehensive income (loss) $ (95.0 ) $ (83.7 ) $ (98.0 ) $ (68.5 ) $ 250.2 $ (95.0 )
Schedule of Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet September 26, 2015 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Assets Current assets Cash and cash equivalents $ — $ — $ 0.2 $ 144.7 $ — $ 144.9 Accounts and notes receivable, net — — — 1,136.5 — 1,136.5 Inventories — — — 1,296.2 — 1,296.2 Other current assets 1.1 14.8 19.7 391.7 (41.6 ) 385.7 Current assets held for sale — — — 0.9 — 0.9 Total current assets 1.1 14.8 19.9 2,970.0 (41.6 ) 2,964.2 Property, plant and equipment, net — — — 921.4 — 921.4 Other assets Investments in subsidiaries 4,981.6 4,969.9 9,873.3 — (19,824.8 ) — Goodwill — — — 5,827.4 — 5,827.4 Intangibles, net — — — 2,515.6 — 2,515.6 Other non-current assets 36.9 — 1,232.6 367.5 (1,210.3 ) 426.7 Non-current assets held for sale — — — 15.6 — 15.6 Total other assets 5,018.5 4,969.9 11,105.9 8,726.1 (21,035.1 ) 8,785.3 Total assets $ 5,019.6 $ 4,984.7 $ 11,125.8 $ 12,617.5 $ (21,076.7 ) $ 12,670.9 Liabilities and Equity Current liabilities Current maturities of long-term debt and short-term borrowings $ — $ — $ — $ 3.2 $ — $ 3.2 Accounts payable 1.3 — 0.8 528.9 — 531.0 Employee compensation and benefits 0.3 0.1 — 264.2 — 264.6 Other current liabilities 66.1 1.4 15.8 652.2 (41.6 ) 693.9 Current liabilities held for sale — — — 3.5 — 3.5 Total current liabilities 67.7 1.5 16.6 1,452.0 (41.6 ) 1,496.2 Other liabilities Long-term debt 402.2 1.6 4,844.8 944.9 (1,210.3 ) 4,983.2 Pension and other post-retirement compensation and benefits — — — 301.6 — 301.6 Deferred tax liabilities — — 2.9 825.0 — 827.9 Other non-current liabilities 13.8 — — 511.8 — 525.6 Non-current liabilities held for sale — — — 0.5 — 0.5 Total liabilities 483.7 3.1 4,864.3 4,035.8 (1,251.9 ) 8,135.0 Equity 4,535.9 4,981.6 6,261.5 8,581.7 (19,824.8 ) 4,535.9 Total liabilities and equity $ 5,019.6 $ 4,984.7 $ 11,125.8 $ 12,617.5 $ (21,076.7 ) $ 12,670.9 Condensed Consolidating Balance Sheet December 31, 2014 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Assets Current assets Cash and cash equivalents $ — $ — $ 0.1 $ 110.3 $ — $ 110.4 Accounts and notes receivable, net — — — 1,206.8 (0.9 ) 1,205.9 Inventories — — — 1,130.4 — 1,130.4 Other current assets — 17.6 2.0 367.6 (20.4 ) 366.8 Current assets held for sale — — — 80.6 — 80.6 Total current assets — 17.6 2.1 2,895.7 (21.3 ) 2,894.1 Property, plant and equipment, net — — — 950.0 — 950.0 Other assets Investments in subsidiaries 4,733.0 4,893.8 7,612.2 — (17,239.0 ) — Goodwill — — — 4,741.9 — 4,741.9 Intangibles, net — — — 1,608.1 — 1,608.1 Other non-current assets 80.2 — 1,381.8 345.0 (1,370.8 ) 436.2 Non-current assets held for sale — — — 24.9 — 24.9 Total other assets 4,813.2 4,893.8 8,994.0 6,719.9 (18,609.8 ) 6,811.1 Total assets $ 4,813.2 $ 4,911.4 $ 8,996.1 $ 10,565.6 $ (18,631.1 ) $ 10,655.2 Liabilities and Equity Current liabilities Current maturities of long-term debt and short-term borrowings $ — $ — $ — $ 6.7 $ — $ 6.7 Accounts payable 0.9 — — 583.1 (0.9 ) 583.1 Employee compensation and benefits 0.2 0.6 — 304.7 — 305.5 Other current liabilities 120.6 2.2 10.9 595.8 (20.4 ) 709.1 Current liabilities held for sale — — — 35.1 — 35.1 Total current liabilities 121.7 2.8 10.9 1,525.4 (21.3 ) 1,639.5 Other liabilities Long-term debt 11.4 175.6 2,860.6 1,320.6 (1,370.8 ) 2,997.4 Pension and other post-retirement compensation and benefits — — — 322.0 — 322.0 Deferred tax liabilities — — 2.9 525.4 — 528.3 Other non-current liabilities 16.3 — — 481.4 — 497.7 Non-current liabilities held for sale — — — 6.5 — 6.5 Total liabilities 149.4 178.4 2,874.4 4,181.3 (1,392.1 ) 5,991.4 Equity 4,663.8 4,733.0 6,121.7 6,384.3 (17,239.0 ) 4,663.8 Total liabilities and equity $ 4,813.2 $ 4,911.4 $ 8,996.1 $ 10,565.6 $ (18,631.1 ) $ 10,655.2
Schedule of Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows Nine months ended September 26, 2015 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Operating activities Net cash provided by (used for) operating activities $ 421.3 $ 393.3 $ 406.1 $ 408.1 $ (1,232.9 ) $ 395.9 Investing activities Capital expenditures — — — (100.6 ) — (100.6 ) Proceeds from sale of property and equipment — — — 24.8 — 24.8 Acquisitions, net of cash acquired — — — (1,913.0 ) — (1,913.0 ) Net intercompany loan activity — — 1,657.8 (149.8 ) (1,508.0 ) — Other — — — (0.8 ) — (0.8 ) Net cash provided by (used for) investing activities of continuing operations — — 1,657.8 (2,139.4 ) (1,508.0 ) (1,989.6 ) Net cash provided by (used for) investing activities of discontinued operations — — — 59.0 — 59.0 Net cash provided by (used for) investing activities — — 1,657.8 (2,080.4 ) (1,508.0 ) (1,930.6 ) Financing activities Net repayments of short-term borrowings — — — (2.0 ) — (2.0 ) Net receipts of commercial paper and revolving long-term debt — — 274.9 1.6 — 276.5 Proceeds from long-term debt — — 1,714.8 — — 1,714.8 Repayments of long-term debt — — — (4.6 ) — (4.6 ) Debt issuance costs — — (26.8 ) — — (26.8 ) Net change in advances to subsidiaries (48.0 ) (393.3 ) (4,021.2 ) 1,721.6 2,740.9 — Excess tax benefits from share-based compensation — — — 6.0 — 6.0 Shares issued to employees, net of shares withheld — — — 21.9 — 21.9 Repurchases of ordinary shares (200.0 ) — — — — (200.0 ) Dividends paid (173.3 ) — — — — (173.3 ) Net cash provided by (used for) financing activities (421.3 ) (393.3 ) (2,058.3 ) 1,744.5 2,740.9 1,612.5 Effect of exchange rate changes on cash and cash equivalents — — (5.5 ) (37.8 ) — (43.3 ) Change in cash and cash equivalents — — 0.1 34.4 — 34.5 Cash and cash equivalents, beginning of period — — 0.1 110.3 — 110.4 Cash and cash equivalents, end of period $ — $ — $ 0.2 $ 144.7 $ — $ 144.9 Condensed Consolidating Statement of Cash Flows Nine months ended September 27, 2014 In millions Parent Subsidiary Subsidiary Non-guarantor Eliminations Consolidated Operating activities Net cash provided by (used for) operating activities $ 99.4 $ 94.2 $ 88.1 $ 718.8 $ (317.1 ) $ 683.4 Investing activities Capital expenditures — — — (92.5 ) — (92.5 ) Proceeds from sale of property and equipment — — — 4.1 — 4.1 Other — — — 0.9 — 0.9 Net cash provided by (used for) investing activities — — — (87.5 ) — (87.5 ) Financing activities Net receipts of short-term borrowings — — — 0.3 — 0.3 Net receipts of commercial paper and revolving long-term debt — — 416.7 9.5 — 426.2 Repayments of long-term debt — — — (13.2 ) — (13.2 ) Excess tax benefits from share-based compensation — — — 10.0 — 10.0 Net change in advances to subsidiaries 455.6 (94.2 ) (551.6 ) (126.9 ) 317.1 — Shares issued to employees, net of shares withheld — — — 30.3 — 30.3 Repurchases of ordinary shares (399.3 ) — — (450.7 ) — (850.0 ) Dividends paid (156.2 ) — — — — (156.2 ) Purchase of noncontrolling interest — — — (134.7 ) — (134.7 ) Net cash provided by (used for) financing activities (99.9 ) (94.2 ) (134.9 ) (675.4 ) 317.1 (687.3 ) Effect of exchange rate changes on cash and cash equivalents — — — (8.0 ) — (8.0 ) Change in cash and cash equivalents (0.5 ) — (46.8 ) (52.1 ) — (99.4 ) Cash and cash equivalents, beginning of period 0.5 — 47.0 208.5 — 256.0 Cash and cash equivalents, end of period $ — $ — $ 0.2 $ 156.4 $ — $ 156.6

Acquisitions - Additional Infor

Acquisitions - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 26, 2015	Jun. 27, 2015	Mar. 29, 2014	Sep. 26, 2015	Sep. 27, 2014	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Goodwill	$ 5,827.4			$ 5,827.4		$ 4,741.9
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual				13
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners							19.90%
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests					$ (134.7)
Noncontrolling Interest, Ownership Percentage by Parent							80.10%
Payments to Acquire Businesses, Net of Cash Acquired		$ 96		1,913	$ 0
Goodwill, Acquired During Period		46.5
Finite-lived Intangible Assets Acquired		53.3
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual				2.2
ERICO Global Company [Member]
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Goodwill	1,102.8			1,102.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	964.6			$ 964.6
Payments to Acquire Businesses, Net of Cash Acquired	$ 1,800
Pentair Residential Filtration [Member]
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests			$ 134.3
Canada, Dollars
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired		$ 120.5

Acquisitions - Estimated Fair V

Acquisitions - Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 26, 2015	Dec. 31, 2014
Schedule of Business Acquisition Allocation of Purchase Price [Line Items]
Goodwill	$ 5,827.4	$ 4,741.9
ERICO Global Company [Member]
Schedule of Business Acquisition Allocation of Purchase Price [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	11.6
Business Combination, Acquired Receivables, Fair Value	76.7
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	99
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other	9.5
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	27
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	964.6
Goodwill	1,102.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	(96)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent	(373)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	(4.1)
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	$ 1,818.1

Acquisitions - Summary Pro Form

Acquisitions - Summary Pro Forma Information (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Weighted Average Number of Shares Outstanding, Basic	180.2	190.2	180.1	193.2
Weighted Average Number of Shares Outstanding, Diluted	182.6	193.1	182.6	196.4
ERICO Global Company [Member]
Business Acquisition, Pro Forma Revenue	$ 1,670.9	$ 1,906.4	$ 5,074.5	$ 5,659.8
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax	$ 152.2	$ 200.3	$ 433.5	$ 481.3
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax, Per Share, Basic	$ 0.84	$ 1.05	$ 2.41	$ 2.48
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax, Per Share, Diluted	$ 0.83	$ 1.03	$ 2.38	$ 2.44

Discontinued Operations and D40

Discontinued Operations and Divestitures - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 29, 2014	Sep. 26, 2015
Business Acquisition [Line Items]
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax	$ (5.6)
Cash sales price of business		$ 59
Discontinued Operation, Tax Effect of Income (Loss) from Disposal of Discontinued Operation	$ 2.4

Discontinued Operations and D41

Discontinued Operations and Divestitures - Components of Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014	Dec. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Revenue	$ 0	$ 74.8	$ 18.6	$ 235.4
Disposal Group, Including Discontinued Operation, Costs of Goods Sold	0	65.1	18.1	198.9
Disposal Group, Including Discontinued Operation, Gross Profit (Loss)	0	9.7	0.5	36.5
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax	0	0.2	(7.1)	0.3
Discontinued Operation, Tax Effect of Income (Loss) from Discontinued Operation During Phase-out Period	0	1.4	1.5	2.3
Income (Loss) from Discontinued Operations, Net of Tax	0	1.6	(5.6)	2.6
Discontinued Operation, Provision for Loss (Gain) on Disposal, before Income Tax	0	(392.4)	(4.8)	(400.4)
Discontinued Operation, Tax (Expense) Benefit from Provision for (Gain) Loss on Disposal	0	12.3	0	14.7
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax	0	$ (380.1)	(4.8)	$ (385.7)
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents	0		0		$ 7
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net	0		0		28.8
Disposal Group, Including Discontinued Operation, Inventory, Current	0		0		30.1
Disposal Group, Including Discontinued Operation, Other Current Assets	0.9		0.9		14.7
Assets of Disposal Group, Including Discontinued Operation, Current	0.9		0.9		80.6
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment	15.6		15.6		18.5
Disposal Group, Including Discontinued Operation, Other Noncurrent Assets	0		0		6.4
Disposal Group, Including Discontinued Operation, Accounts Payable, Current	0		0		12.2
Disposal Group, Including Discontinued Operations, Employee Compensation and Benefits	0		0		11.3
Disposal Group, Including Discontinued Operation, Other Current Liabilities	3.5		3.5		11.6
Liabilities of Disposal Group, Including Discontinued Operation, Current	3.5		3.5		35.1
Disposal Group, Including Discontinued Operations, Long Term Debt	0		0		4
Disposal Group, Including Discontinued Operation, Pension Plan Benefit Obligation	0		0		2.5
Liabilities of Disposal Group, Including Discontinued Operation, Noncurrent	0.5		0.5		6.5
Disposal Group, Including Discontinued Operation, Assets, Noncurrent	15.6		15.6		24.9
Disposal Group, Including Discontinued Operation, Deferred Tax Liabilities, Noncurrent	$ 0.5		$ 0.5		$ 0

Share Plans - Additional Inform

Share Plans - Additional Information (Detail) - 2012 Stock and Incentive Plan shares in Millions	3 Months Ended
	Mar. 28, 2015$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options and restricted stock units issued under stock and incentive plan	0.8
Number of stock option issued under stock and incentive plan	0.6
Weighted-average fair value of options granted | $ / shares	$ 16.73
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock units issued under stock and incentive plan	0.2
Weighted-average fair value of restricted stock units granted | $ / shares	$ 66.44

Share Plans - Assumptions Used

Share Plans - Assumptions Used in Calculating Estimated Fair Value of Stock Option Award in Annual Grant (Detail)	3 Months Ended
	Mar. 28, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.61%
Expected dividend yield	1.96%
Expected share price volatility	30.40%
Expected term (years)	6 years

Share Plans - Share-based Compe

Share Plans - Share-based Compensation Cost by Award Type (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock units	$ 5.4	$ 5.6	$ 17.9	$ 16.7
Stock options	2.7	2.7	9.6	8.1
Total share-based compensation expense	$ 8.1	$ 8.3	$ 27.5	$ 24.8

Restructuring - Additional Inf

Restructuring - Additional Information (Detail) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 26, 2015USD ($)	Sep. 27, 2014USD ($)	Sep. 26, 2015USD ($)Person	Sep. 27, 2014USD ($)	Dec. 31, 2014Person
Restructuring Cost and Reserve [Line Items]
Number of employees | Person			1,500		1,150
Total restructuring costs	$ 25.2	$ 0	$ 49.2	$ 52.9
Valves & Controls
Restructuring Cost and Reserve [Line Items]
Number of employees | Person			1,150		600
Total restructuring costs	18	0	$ 31.6	27.7
Flow & Filtration Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees | Person			150		350
Total restructuring costs	3.5	0	$ 7.2	12.3
Water Quality Systems [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees | Person			100		50
Total restructuring costs	1.5	0	$ 4.8	7.1
Technical Solutions
Restructuring Cost and Reserve [Line Items]
Number of employees | Person			100		150
Total restructuring costs	$ 2.2	$ 0	$ 5.6	$ 5.8

Restructuring - Restructuring R

Restructuring - Restructuring Related Costs Included in Selling, General & Administrative expenses on Consolidated Statements of Income (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 25.2	$ 0	$ 49.2	$ 52.9
Severance and related costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs	14.6	0	35.2	34.6
Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 10.6	$ 0	$ 14	$ 18.3

Restructuring - Restructuring A

Restructuring - Restructuring Accrual Activity recorded on Condensed Consolidated Balance Sheets (Detail) $ in Millions	9 Months Ended
	Sep. 26, 2015USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 73.4
Restructuring and Related Cost, Incurred Cost	35.2
Cash payments and other	(37.4)
Ending balance	$ 71.2

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Computation Of Earnings Per Share Line Items
Net income	$ 115.2	$ (186)	$ 376.9	$ 94.1
Income (Loss) from Continuing Operations Attributable to Parent	$ 115.2	$ 192.5	$ 387.3	$ 477.2
Weighted average common shares outstanding
Basic (shares)	180.2	190.2	180.1	193.2
Dilutive impact of stock options and restricted stock units (shares)	2.4	2.9	2.5	3.2
Diluted (shares)	182.6	193.1	182.6	196.4
Earnings per common share attributable to Pentair plc
Income (Loss) from Continuing Operations, Per Basic Share	$ 0.64	$ 1.01	$ 2.15	$ 2.47
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	0	(1.99)	(0.06)	(1.98)
Basic (USD per share)	0.64	(0.98)	2.09	0.49
Income (Loss) from Continuing Operations, Per Diluted Share	0.63	1	2.12	2.43
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	0	(1.95)	(0.06)	(1.95)
Diluted (USD per share)	$ 0.63	$ (0.95)	$ 2.06	$ 0.48
Anti-dilutive stock options excluded from the calculation of diluted earnings per share	1.2	0.5	1.2	0.5

Supplemental Balance Sheet In49

Supplemental Balance Sheet Information (Detail) - USD ($) $ in Millions	Sep. 26, 2015	Dec. 31, 2014
Inventories
Raw materials and supplies	$ 445.9	$ 460.1
Work-in-process	277.3	229
Finished goods	573	441.3
Total inventories	1,296.2	1,130.4
Other current assets
Cost in excess of billings	125.6	103.5
Prepaid expenses	111.2	109.6
Deferred income taxes	126.3	139.4
Other current assets	22.6	14.3
Total other current assets	385.7	366.8
Property, plant and equipment, net
Land and land improvements	145.1	165.1
Buildings and leasehold improvements	507.1	493.5
Machinery and equipment	1,282.6	1,169.1
Construction in progress	75	71
Total property, plant and equipment	2,009.8	1,898.7
Accumulated depreciation and amortization	1,088.4	948.7
Total property, plant and equipment, net	921.4	950
Other non-current assets
Asbestos-related insurance receivable	111.3	115.8
Deferred income taxes	92.1	87.9
Other non-current assets	223.3	232.5
Total other non-current assets	426.7	436.2
Other current liabilities
Deferred revenue and customer deposits	99.6	112.7
Dividends payable	57.7	116.8
Billings in excess of cost	38.1	41.4
Accrued warranty	61.1	66.4
Other current liabilities	437.4	371.8
Total other current liabilities	693.9	709.1
Other non-current liabilities
Asbestos-related liabilities	240.1	249.1
Taxes payable	63.9	61.6
Other non-current liabilities	221.6	187
Total other non-current liabilities	$ 525.6	$ 497.7

Goodwill and Other Identifiab50

Goodwill and Other Identifiable Intangible Assets - Changes in Carrying Amount of Goodwill by Segment (Detail) $ in Millions	9 Months Ended
	Sep. 26, 2015USD ($)
Goodwill [Roll Forward]
Beginning Balance	$ 4,741.9
Acquisitions/ divestitures	1,160.9
Foreign currency translation/other	(75.4)
Ending Balance	5,827.4
Valves & Controls
Goodwill [Roll Forward]
Beginning Balance	1,511.6
Acquisitions/ divestitures	0
Foreign currency translation/other	0
Ending Balance	1,511.6
Flow & Filtration Solutions [Member]
Goodwill [Roll Forward]
Beginning Balance	942.4
Acquisitions/ divestitures	0
Foreign currency translation/other	(51.8)
Ending Balance	890.6
Water Quality Systems [Member]
Goodwill [Roll Forward]
Beginning Balance	1,137.6
Acquisitions/ divestitures	0
Foreign currency translation/other	(14.7)
Ending Balance	1,122.9
Technical Solutions
Goodwill [Roll Forward]
Beginning Balance	1,150.3
Acquisitions/ divestitures	1,160.9
Foreign currency translation/other	(8.9)
Ending Balance	$ 2,302.3

Goodwill and Other Identifiab51

Goodwill and Other Identifiable Intangible Assets - Detail of Identifiable Intangible Assets (Detail) - USD ($) $ in Millions	Sep. 26, 2015	Dec. 31, 2014
Acquired Intangible Assets By Major Class [Line Items]
Cost	$ 3,010.6	$ 2,031.1
Accumulated amortization	(495)	(423)
Net	2,515.6	1,608.1
Net, indefinite-life intangibles	782.1	525.6
Finite-life intangibles
Acquired Intangible Assets By Major Class [Line Items]
Cost	2,228.5	1,505.5
Accumulated amortization	(495)	(423)
Net	1,733.5	1,082.5
Finite-life intangibles | Customer relationships
Acquired Intangible Assets By Major Class [Line Items]
Cost	1,976.4	1,247.8
Accumulated amortization	(384.3)	(325.2)
Net	1,592.1	922.6
Finite-life intangibles | Trade names intangibles
Acquired Intangible Assets By Major Class [Line Items]
Cost	1.8	2
Accumulated amortization	(1.2)	(1.1)
Net	0.6	0.9
Finite-life intangibles | Proprietary technology
Acquired Intangible Assets By Major Class [Line Items]
Cost	250.3	255.7
Accumulated amortization	(109.5)	(96.7)
Net	$ 140.8	$ 159

Goodwill and Other Identifiab52

Goodwill and Other Identifiable Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Goodwill And Other Intangible Assets [Line Items]
Intangible asset amortization expense	$ 28.2	$ 28.4	$ 83.8	$ 85.9

Goodwill and Other Identifiab53

Goodwill and Other Identifiable Intangible Assets - Estimated Future Amortization Expense for Identifiable Intangible Assets (Detail) $ in Millions	Sep. 26, 2015USD ($)
Finite-Lived Intangible Assets [Line Items]
Q4 2015	$ 39.4
2,016	157.4
2,017	155.9
2,018	153.5
2,019	146.7
2,020	$ 141.6

Debt - Debt and Average Interes

Debt - Debt and Average Interest Rates on Debt Outstanding (Detail) € in Millions, $ in Millions	Sep. 26, 2015USD ($)	Sep. 26, 2015EUR (€)	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Total debt	$ 4,986.4
Debt and Capital Lease Obligations	4,986.4		$ 3,004.1
Current maturities and short-term borrowings	(3.2)		(6.7)
Long-term debt	$ 4,983.2		2,997.4
Commercial Paper
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	0.885%	0.885%
Total debt	$ 1,082.4		987.6
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	8.284%	8.284%
Capital Lease Obligations	$ 3.2		6.7
Total debt	$ 2.9
Senior Notes 1.350% Due in 2015 | Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	1.35%	1.35%
Total debt	$ 350		350
Senior Notes 1.875% Due 2017 | Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	1.875%	1.875%
Total debt	$ 350		350
Senior Notes 2.900% Due 2018 | Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	2.90%	2.90%
Total debt	$ 500		0
Senior Notes 2.650% Due 2019 | Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	2.65%	2.65%
Total debt	$ 250		250
Senior Notes 5.000% Due 2021 | Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	5.00%	5.00%
Total debt	$ 500		500
Senior Notes 3.150% Due 2022 | Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	3.15%	3.15%
Total debt	$ 550		550
Senior Notes 2.45% Due 2019 | Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	2.45%	2.45%
Total debt	$ 559.3	€ 500	0
Senior Notes 3.625% Due 2020 | Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	3.625%	3.625%
Total debt	$ 400		0
Senior Notes 4.65% Due 2025 | Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	4.65%	4.65%
Total debt	$ 250		0
Subsidiary Issuer
Debt Instrument [Line Items]
Long-term debt	$ 4,844.8		2,860.6
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	1.451%	1.451%
Total debt	$ 191.5		$ 9.8

Debt - Additional Information

Debt - Additional Information (Detail) € in Millions, $ in Millions	9 Months Ended
	Sep. 26, 2015USD ($)	Sep. 26, 2015EUR (€)	Sep. 02, 2015USD ($)	Dec. 31, 2014USD ($)	Oct. 03, 2014USD ($)
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 4,986.4
Compliance with debt agreement financial covenants	we were in compliance with all financial covenants in our debt agreements
Future minimum lease payments	$ 3
Imputed interest	0.1
Capital lease obligation cost	5			$ 19.5
Accumulated amortization related to assets under capital lease	$ 1.8			2.4
Subsidiary Issuer
Debt Instrument [Line Items]
Ownership percentage	100.00%
Subsidiary Issuer | Senior Notes 1.350% Due in 2015
Debt Instrument [Line Items]
Debt, interest rate	1.35%	1.35%
Subsidiary Issuer | Senior Notes 1.875% Due 2017
Debt Instrument [Line Items]
Debt, interest rate	1.875%	1.875%
Subsidiary Issuer | Senior Notes 2.650% Due 2019
Debt Instrument [Line Items]
Debt, interest rate	2.65%	2.65%
Subsidiary Issuer | Senior Notes 5.000% Due 2021
Debt Instrument [Line Items]
Debt, interest rate	5.00%	5.00%
Subsidiary Issuer | Senior Notes 3.150% Due 2022
Debt Instrument [Line Items]
Debt, interest rate	3.15%	3.15%
Pentair, Inc [Member] | Senior Notes 5.000% Due 2021
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 127
Pentair Finance S.A. [Member] | Senior Notes 5.000% Due 2021
Debt Instrument [Line Items]
Debt Instrument, Face Amount	373
Maximum
Debt Instrument [Line Items]
Costs and expenses incurred in connection with acquisition excluded from computation of Net Income figure used in our debt covenant calculation	$ 25
Debt agreement financial covenant, leverage ratio	3	3
Minimum
Debt Instrument [Line Items]
Debt agreement financial covenant, leverage ratio	3.50	3.50
Other Credit Facilities
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 51
Line of credit facility, amount outstanding	0.3
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity			$ 2,500		$ 2,100
Debt, Long-term and Short-term, Combined Amount	$ 191.5			9.8
Debt, Weighted Average Interest Rate	1.451%	1.451%
Remaining availability under Credit Facility	$ 1,226.1
Commercial Paper [Member]
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 1,082.4			987.6
Debt, Weighted Average Interest Rate	0.885%	0.885%
Senior Notes [Member] | Senior Notes 2.900% Due 2018
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 500			0
Debt, Weighted Average Interest Rate	2.90%	2.90%
Senior Notes [Member] | Senior Notes 1.350% Due in 2015
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 350			350
Debt, Weighted Average Interest Rate	1.35%	1.35%
Senior Notes [Member] | Senior Notes 1.875% Due 2017
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 350			350
Debt, Weighted Average Interest Rate	1.875%	1.875%
Senior Notes [Member] | Senior Notes 2.650% Due 2019
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 250			250
Debt, Weighted Average Interest Rate	2.65%	2.65%
Senior Notes [Member] | Senior Notes 5.000% Due 2021
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 500			500
Debt, Weighted Average Interest Rate	5.00%	5.00%
Senior Notes [Member] | Senior Notes 3.150% Due 2022
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 550			550
Debt, Weighted Average Interest Rate	3.15%	3.15%
Senior Notes [Member] | Senior Notes 3.625% Due 2020
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 400			0
Debt, Weighted Average Interest Rate	3.625%	3.625%
Senior Notes [Member] | Senior Notes 4.65% Due 2025
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 250			0
Debt, Weighted Average Interest Rate	4.65%	4.65%
Senior Notes [Member] | Senior Notes 2.45% Due 2019
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 559.3	€ 500		$ 0
Debt, Weighted Average Interest Rate	2.45%	2.45%

Debt - Debt Outstanding Matures

Debt - Debt Outstanding Matures on Calendar Year Basis (Detail) $ in Millions	Sep. 26, 2015USD ($)
Debt Instrument [Line Items]
Q4 2015	$ 352
2,016	1.2
2,017	350
2,018	500
2,019	2,083.2
2,020	400
Thereafter	1,300
Total debt	4,986.4
Contractual Maturity
Debt Instrument [Line Items]
Q4 2015	350.3
2,016	0
2,017	350
2,018	500
2,019	2,083.2
2,020	400
Thereafter	1,300
Total debt	4,983.5
Capital Lease Obligations
Debt Instrument [Line Items]
Q4 2015	1.7
2,016	1.2
2,017	0
2,018	0
2,019	0
2,020	0
Thereafter	0
Total debt	$ 2.9

Derivatives and Financial Ins57

Derivatives and Financial Instruments - Additional Information (Detail) € in Millions, $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended		12 Months Ended
	Apr. 30, 2011USD ($)	Sep. 26, 2015USD ($)	Sep. 27, 2014USD ($)	Sep. 26, 2015USD ($)	Sep. 27, 2014USD ($)	Dec. 31, 2014USD ($)	Sep. 26, 2015EUR (€)
Derivative [Line Items]
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax		$ 0	$ 380.1	$ 4.8	$ 385.7
Debt, Long-term and Short-term, Combined Amount		4,986.4		4,986.4
Discontinued Operation, Tax (Expense) Benefit from Provision for (Gain) Loss on Disposal		0	$ 12.3	$ 0	$ 14.7
Description of Net Investment Hedge Activity				500
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax				$ 5.5
Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative, Notional Amount		235.1		235.1		$ 250.8
Interest Rate Swap [Member]
Derivative [Line Items]
Average swap interest rate	3.65%
Cost of expiration (termination)	$ 11
Derivative instrument contractual life	10 years
Unrealized loss				6.1		7
Derivative, Notional Amount	$ 400
Senior Notes [Member] | Senior Notes 2.45% Due 2019
Derivative [Line Items]
Debt, Long-term and Short-term, Combined Amount		$ 559.3		$ 559.3		$ 0	€ 500

Derivatives and Financial Ins58

Derivatives and Financial Instruments - Recorded Amounts and Estimated Fair Values of Long-term Debt and Derivative Financial Instruments (Detail) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 26, 2015	Dec. 31, 2014
Derivative [Line Items]
Total debt	$ 4,986.4
Recorded Amount
Derivative [Line Items]
Variable rate debt	1,274.2	$ 997.4
Fixed rate debt	3,712.2	2,006.7
Total debt	4,986.4	3,004.1
Fair Value
Derivative [Line Items]
Variable rate debt	1,274.2	997.4
Fixed rate debt	3,782.1	2,070.4
Total debt	5,056.3	3,067.8
Interest Rate Swap [Member]
Derivative [Line Items]
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss)	$ (6.1)	$ (7)

Derivatives and Financial Ins59

Derivatives and Financial Instruments - Assets and Liabilities Measured at Fair Value (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Millions		Sep. 26, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract assets			$ 0.9
Foreign Currency Contracts, Liability, Fair Value Disclosure		$ 13.5	6.6
Deferred compensation plan	[1]	50.2	55.3
Total recurring fair value measurements		36.7	49.6
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation plan	[1]	42.2	47.9
Total recurring fair value measurements		42.2	47.9
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract assets			0.9
Foreign Currency Contracts, Liability, Fair Value Disclosure		13.5	6.6
Deferred compensation plan	[1]	8	7.4
Total recurring fair value measurements		$ (5.5)	$ 1.7
[1]	Deferred compensation plan assets include mutual funds, common/collective trusts and cash equivalents for payment of certain non-qualified benefits for retired, terminated and active employees. The fair value of mutual funds and cash equivalents were based on quoted market prices in active markets. The underlying investments in the common/collective trusts primarily include intermediate and long-term debt securities, corporate debt securities, equity securities and fixed income securities. The overall fair value of the common/collective trusts are based on observable inputs.

Income Taxes - Additional Info

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	Sep. 26, 2015	Dec. 31, 2014
Income Taxes [Line Items]
Total gross liability for unrecognized tax benefits	$ 63.9	$ 62.1

Benefit Plans - Components of N

Benefit Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3.5	$ 3.3	$ 10.5	$ 9.9
Interest cost	3.7	3.8	11.1	11.4
Expected return on plan assets	(2.5)	(2.6)	(7.5)	(7.8)
Net periodic benefit cost	4.7	4.5	14.1	13.5
Non U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	2.6	2	7.8	6
Interest cost	3.8	4.7	11.4	14.1
Expected return on plan assets	(4.1)	(4.2)	(12.3)	(12.6)
Net periodic benefit cost	$ 2.3	$ 2.5	$ 6.9	$ 7.5

Shareholders' Equity - Additio

Shareholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014	Sep. 21, 2015	Dec. 31, 2014	May. 20, 2014
Stockholders Equity Note Disclosure [Line Items]
Treasury Stock, Shares, Retired			19.1
Common Stock, Dividends, Per Share, Cash Paid	$ 0.32	$ 0.30	$ 0.96	$ 0.80
Share repurchase (in shares)			3.1
Repurchase of common stock, value			$ 200	$ 850
Dividends payable amount (USD per share)	$ 0.32	$ 0.30	$ 0.32	$ 0.30	$ 0.32	$ 0.30	$ 1.20
Dividends Payable, Amount Per Share, Quarterly Dividends Declared						0.32	$ 0.30
Dividends Payable, Amount Per Share, Increase (Decrease) in Quarterly Dividends Declared						$ 0.02
Dividends payable	$ 57.7		$ 57.7			$ 116.8
December 2014 Share Repurchase Program [Member]
Stockholders Equity Note Disclosure [Line Items]
Repurchase of shares of our common stock up to a maximum aggregate value	1,000		$ 1,000
Common stock authorized for repurchase, expiration date			Dec. 31, 2019
Share repurchase program remaining available amount	$ 800		$ 800

Segment Information - Financial

Segment Information - Financial Information by Reportable Segment (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Segment Reporting Information [Line Items]
Net sales	$ 1,552.1	$ 1,758.4	$ 4,688.3	$ 5,236.5
Segment Income (Loss)	249.2	295.8	720.9	833.2
Valves & Controls
Segment Reporting Information [Line Items]
Net sales	440.9	607.9	1,366.5	1,767.5
Segment Income (Loss)	55.7	107.6	175.5	282.8
Flow & Filtration Solutions [Member]
Segment Reporting Information [Line Items]
Net sales	362.7	394.1	1,087.4	1,219.7
Segment Income (Loss)	52.8	53.5	145	157.6
Water Quality Systems [Member]
Segment Reporting Information [Line Items]
Net sales	322	324.1	1,016.6	1,006
Segment Income (Loss)	60.5	56	200.5	191
Technical Solutions
Segment Reporting Information [Line Items]
Net sales	432.3	438.8	1,235.2	1,262.7
Segment Income (Loss)	101	101.1	265	266.9
Other
Segment Reporting Information [Line Items]
Net sales	(5.8)	(6.5)	(17.4)	(19.4)
Segment Income (Loss)	$ (20.8)	$ (22.4)	$ (65.1)	$ (65.1)

Segment Information Reconciliat

Segment Information Reconciliation of Operating Profit (Losee) from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Income (Loss)	$ 249.2	$ 295.8	$ 720.9	$ 833.2
Restructuring and other	(25.3)	0	(50.8)	(61.1)
Intangible asset amortization expense	(28.2)	(28.4)	(83.8)	(85.9)
inventory step up	(1.4)	0	(2.9)	0
Deal related costs and expenses	(14.3)	0	(14.3)	0
Redomicile Expense	0	0	0	(10.3)
Operating Income (Loss)	$ 180	$ 267.4	$ 569.1	$ 675.9

Commitments and Contingencies

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Sep. 26, 2015USD ($)LegalMatter	Dec. 31, 2014USD ($)
Loss Contingencies [Line Items]
Number of asbestos-related claims outstanding | LegalMatter	4,200
Estimated liability for asbestos-related claims	$ 240.1	$ 249.1
Estimated receivable for asbestos-related insurance recoveries	111.3	115.8
Environmental reserve	22.5	31.4
Letters of credit outstanding	$ 421.2	$ 370.1

Commitments and Contingencies -

Commitments and Contingencies - Changes in Carrying Amount of Service and Product Warranties (Detail) $ in Millions	9 Months Ended
	Sep. 26, 2015USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 66.4
Product Warranty Accrual, Currency Translation, Increase (Decrease)	(1.8)
Service and product warranty provision	45.4
Payments	(48.9)
Ending balance	$ 61.1

Financial Statements of Paren67

Financial Statements of Parent Company Guarantor - Additional Information (Detail)	9 Months Ended
	Sep. 26, 2015
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Ownership percentage	100.00%

Financial Statements of Paren68

Financial Statements of Parent Company Guarantor - Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 26, 2015	Sep. 27, 2014	Sep. 26, 2015	Sep. 27, 2014
Condensed Financial Statements, Captions [Line Items]
Net sales	$ 1,552.1	$ 1,758.4	$ 4,688.3	$ 5,236.5
Cost of goods sold	1,012	1,133.7	3,071.8	3,401.4
Gross profit	540.1	624.7	1,616.5	1,835.1
Selling, general and administrative	330.2	328.8	958.7	1,071
Research and development	29.9	28.5	88.7	88.2
Operating Income (Loss)	180	267.4	569.1	675.9
Income (Loss) from Equity Method Investments	(0.9)	(0.3)	(2)	(0.9)
Gain (Loss) on Disposition of Business	0	0	0	(0.2)
Other (income) expense:
Net interest expense	31.3	17.1	68.1	51.1
Income before income taxes and noncontrolling interest	149.6	250.6	503	625.5
Provision for income taxes	34.4	58.1	115.7	148.3
Net Income (Loss) from Continuing Operations	115.2	192.5	387.3	477.2
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	0	(1.6)	5.6	(2.6)
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax	0	(380.1)	(4.8)	(385.7)
Net income (loss) attributable to Pentair plc	115.2	(186)	376.9	94.1
Income (Loss) from Continuing Operations Attributable to Parent	115.2	192.5	387.3	477.2
Comprehensive income (loss), net of tax
Net income	115.2	(186)	376.9	94.1
Changes in cumulative translation adjustment	85.8	178.8	238.4	190.3
Changes in market value of derivative financial instruments	(0.7)	0.8	(1.6)	1.2
Comprehensive income (loss) attributable to Pentair plc	28.7	(364)	136.9	(95)
Parent Company Guarantor
Condensed Financial Statements, Captions [Line Items]
Selling, general and administrative	17.7	3.2	30.4	10.6
Operating Income (Loss)	(17.7)	(3.2)	(30.4)	(10.6)
Other (income) expense:
Net interest expense	0	0	0	0.7
Income before income taxes and noncontrolling interest	115.2	192.5	386.6	477.2
Provision for income taxes	0	0	(0.7)	0
Net Income (Loss) from Continuing Operations	115.2	192.5	387.3	477.2
Net income (loss) attributable to Pentair plc	115.2	(186)	376.9	94.1
Comprehensive income (loss), net of tax
Net income	115.2	(186)	376.9	94.1
Changes in cumulative translation adjustment	85.8	178.8	238.4	190.3
Changes in market value of derivative financial instruments	(0.7)	0.8	(1.6)	1.2
Comprehensive income (loss) attributable to Pentair plc	28.7	(364)	136.9	(95)
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Selling, general and administrative	0.1	1.5	0.2	4.2
Operating Income (Loss)	(0.1)	(1.5)	(0.2)	(4.2)
Other (income) expense:
Net interest expense	0	0.9	1.3	1.2
Income before income taxes and noncontrolling interest	132.9	195.7	417	488.5
Provision for income taxes	0		0	0
Net Income (Loss) from Continuing Operations	132.9	195.7	417	488.5
Net income (loss) attributable to Pentair plc	132.9	(182.8)	406.6	105.4
Comprehensive income (loss), net of tax
Net income	132.9	(182.8)	406.6	105.4
Changes in cumulative translation adjustment	85.8	178.8	238.4	190.3
Changes in market value of derivative financial instruments	(0.7)	0.8	(1.6)	1.2
Comprehensive income (loss) attributable to Pentair plc	46.4	(360.8)	166.6	(83.7)
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Selling, general and administrative	1.7	0.8	3.8	6.8
Operating Income (Loss)	(1.7)	(0.8)	(3.8)	(6.8)
Other (income) expense:
Net interest expense	18	1	21.8	2
Income before income taxes and noncontrolling interest	128.6	204.5	403	475.2
Provision for income taxes	0	0	0	1
Net Income (Loss) from Continuing Operations	128.6	204.5	403	474.2
Net income (loss) attributable to Pentair plc	128.6	(174)	392.6	91.1
Comprehensive income (loss), net of tax
Net income	128.6	(174)	392.6	91.1
Changes in cumulative translation adjustment	85.8	178.8	238.4	190.3
Changes in market value of derivative financial instruments	(0.7)	0.8	(1.6)	1.2
Comprehensive income (loss) attributable to Pentair plc	42.1	(352)	152.6	(98)
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net sales	1,552.1	1,758.4	4,688.3	5,236.5
Cost of goods sold	1,012	1,133.7	3,071.8	3,401.4
Gross profit	540.1	624.7	1,616.5	1,835.1
Selling, general and administrative	310.7	323.3	924.3	1,049.4
Research and development	29.9	28.5	88.7	88.2
Operating Income (Loss)	199.5	272.9	603.5	697.5
Income (Loss) from Equity Method Investments	(0.9)	(0.3)	(2)	(0.9)
Gain (Loss) on Disposition of Business		0		(0.2)
Other (income) expense:
Net interest expense	13.3	15.2	45	47.2
Income before income taxes and noncontrolling interest	187.1	258	560.5	651
Provision for income taxes	34.4	58.1	116.4	147.3
Net Income (Loss) from Continuing Operations	152.7	199.9	444.1	503.7
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	0	(1.6)	5.6	2.6
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax	0		(4.8)	385.7
Net income (loss) attributable to Pentair plc	152.7	(178.6)	433.7	120.6
Comprehensive income (loss), net of tax
Net income	152.7	(178.6)	433.7	120.6
Changes in cumulative translation adjustment	85.8	178.8	238.4	190.3
Changes in market value of derivative financial instruments	(0.7)	0.8	(1.6)	1.2
Comprehensive income (loss) attributable to Pentair plc	66.2	(356.6)	193.7	(68.5)
Eliminations
Other (income) expense:
Income before income taxes and noncontrolling interest	(414.2)	600.1	(1,264.1)	1,466.4
Net Income (Loss) from Continuing Operations	(414.2)	(600.1)	(1,264.1)	(1,466.4)
Net income (loss) attributable to Pentair plc	(414.2)	535.4	(1,232.9)	(317.1)
Comprehensive income (loss), net of tax
Net income	(414.2)	535.4	(1,232.9)	317.1
Changes in cumulative translation adjustment	(257.4)	(536.4)	(715.2)	570.9
Changes in market value of derivative financial instruments	2.1	(2.4)	4.8	3.6
Comprehensive income (loss) attributable to Pentair plc	(154.7)	1,069.4	(512.9)	(250.2)
Continuing Operations [Member] | Parent Company Guarantor
Condensed Financial Statements, Captions [Line Items]
Loss (earnings) from investment in subsidiaries	(132.9)	(195.7)	(417)	(488.5)
Continuing Operations [Member] | Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Loss (earnings) from investment in subsidiaries	(133)	(198.1)	(418.5)	(493.9)
Continuing Operations [Member] | Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Loss (earnings) from investment in subsidiaries	(148.3)	(206.3)	(428.6)	(484)
Continuing Operations [Member] | Eliminations
Condensed Financial Statements, Captions [Line Items]
Loss (earnings) from investment in subsidiaries	414.2	600.1	1,264.1	1,466.4
Discontinued Operations [Member] | Parent Company Guarantor
Condensed Financial Statements, Captions [Line Items]
Loss (earnings) from investment in subsidiaries	0	(378.5)	(10.4)	(383.1)
Discontinued Operations [Member] | Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Loss (earnings) from investment in subsidiaries	0	(378.5)	(10.4)	(383.1)
Discontinued Operations [Member] | Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Loss (earnings) from investment in subsidiaries	0	(378.5)	(10.4)	(383.1)
Discontinued Operations [Member] | Eliminations
Condensed Financial Statements, Captions [Line Items]
Loss (earnings) from investment in subsidiaries	$ 0	$ 1,135.5	$ 31.2	$ 1,149.3

Financial Statements of Paren69

Financial Statements of Parent Company Guarantor - Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Millions	Sep. 26, 2015	Dec. 31, 2014	Sep. 27, 2014	Dec. 31, 2013
Current assets
Cash and cash equivalents	$ 144.9	$ 110.4	$ 156.6	$ 256
Accounts and notes receivable, net	1,136.5	1,205.9
Inventories	1,296.2	1,130.4
Other current assets	385.7	366.8
Assets of Disposal Group, Including Discontinued Operation, Current	0.9	80.6
Total current assets	2,964.2	2,894.1
Property, plant and equipment, net	921.4	950
Other assets
Goodwill	5,827.4	4,741.9
Intangibles, net	2,515.6	1,608.1
Other non-current assets	426.7	436.2
Disposal Group, Including Discontinued Operation, Assets, Noncurrent	15.6	24.9
Total other assets	8,785.3	6,811.1
Total assets	12,670.9	10,655.2
Current liabilities
Current maturities of long-term debt and short-term borrowings	3.2	6.7
Accounts payable	531	583.1
Employee compensation and benefits	264.6	305.5
Other current liabilities	693.9	709.1
Liabilities of Disposal Group, Including Discontinued Operation, Current	3.5	35.1
Total current liabilities	1,496.2	1,639.5
Other liabilities
Long-term debt	4,983.2	2,997.4
Pension and other post-retirement compensation and benefits	301.6	322
Deferred tax liabilities	827.9	528.3
Other non-current liabilities	525.6	497.7
Liabilities of Disposal Group, Including Discontinued Operation, Noncurrent	0.5	6.5
Total liabilities	8,135	5,991.4
Equity
Shareholders' equity attributable to Pentair plc and subsidiaries	4,535.9	4,663.8
Total equity	4,535.9	4,663.8	4,967.4	6,217.7
Total liabilities and equity	12,670.9	10,655.2
Parent Company Guarantor
Current assets
Cash and cash equivalents	0	0	0	0.5
Accounts and notes receivable, net	0	0
Inventories		0
Other current assets	1.1	0
Total current assets	1.1	0
Property, plant and equipment, net		0
Other assets
Investments in subsidiaries	4,981.6	4,733
Other non-current assets	36.9	80.2
Total other assets	5,018.5	4,813.2
Total assets	5,019.6	4,813.2
Current liabilities
Current maturities of long-term debt and short-term borrowings		0
Accounts payable	1.3	0.9
Employee compensation and benefits	0.3	0.2
Other current liabilities	66.1	120.6
Total current liabilities	67.7	121.7
Other liabilities
Long-term debt	402.2	11.4
Other non-current liabilities	13.8	16.3
Total liabilities	483.7	149.4
Equity
Shareholders' equity attributable to Pentair plc and subsidiaries	4,535.9
Total equity		4,663.8
Total liabilities and equity	5,019.6	4,813.2
Guarantor Subsidiary [Member]
Current assets
Cash and cash equivalents	0
Accounts and notes receivable, net	0
Other current assets	14.8	17.6
Total current assets	14.8	17.6
Other assets
Investments in subsidiaries	4,969.9	4,893.8
Other non-current assets	0
Total other assets	4,969.9	4,893.8
Total assets	4,984.7	4,911.4
Current liabilities
Accounts payable	0
Employee compensation and benefits	0.1	0.6
Other current liabilities	1.4	2.2
Total current liabilities	1.5	2.8
Other liabilities
Long-term debt	1.6	175.6
Other non-current liabilities	0
Total liabilities	3.1	178.4
Equity
Shareholders' equity attributable to Pentair plc and subsidiaries	4,981.6
Total equity		4,733
Total liabilities and equity	4,984.7	4,911.4
Subsidiary Issuer
Current assets
Cash and cash equivalents	0.2	0.1	0.2	47
Accounts and notes receivable, net	0	0
Inventories		0
Other current assets	19.7	2
Total current assets	19.9	2.1
Property, plant and equipment, net		0
Other assets
Investments in subsidiaries	9,873.3	7,612.2
Other non-current assets	1,232.6	1,381.8
Total other assets	11,105.9	8,994
Total assets	11,125.8	8,996.1
Current liabilities
Current maturities of long-term debt and short-term borrowings		0
Accounts payable	0.8	0
Other current liabilities	15.8	10.9
Total current liabilities	16.6	10.9
Other liabilities
Long-term debt	4,844.8	2,860.6
Deferred tax liabilities	2.9	2.9
Total liabilities	4,864.3	2,874.4
Equity
Shareholders' equity attributable to Pentair plc and subsidiaries	6,261.5
Total equity		6,121.7
Total liabilities and equity	11,125.8	8,996.1
Non-Guarantor Subsidiaries
Current assets
Cash and cash equivalents	144.7	110.3	$ 156.4	$ 208.5
Accounts and notes receivable, net	1,136.5	1,206.8
Inventories	1,296.2	1,130.4
Other current assets	391.7	367.6
Assets of Disposal Group, Including Discontinued Operation, Current	0.9	80.6
Total current assets	2,970	2,895.7
Property, plant and equipment, net	921.4	950
Other assets
Goodwill	5,827.4	4,741.9
Intangibles, net	2,515.6	1,608.1
Other non-current assets	367.5	345
Disposal Group, Including Discontinued Operation, Assets, Noncurrent	15.6	24.9
Total other assets	8,726.1	6,719.9
Total assets	12,617.5	10,565.6
Current liabilities
Current maturities of long-term debt and short-term borrowings	3.2	6.7
Accounts payable	528.9	583.1
Employee compensation and benefits	264.2	304.7
Other current liabilities	652.2	595.8
Liabilities of Disposal Group, Including Discontinued Operation, Current	3.5	35.1
Total current liabilities	1,452	1,525.4
Other liabilities
Long-term debt	944.9	1,320.6
Pension and other post-retirement compensation and benefits	301.6	322
Deferred tax liabilities	825	525.4
Other non-current liabilities	511.8	481.4
Liabilities of Disposal Group, Including Discontinued Operation, Noncurrent	0.5	6.5
Total liabilities	4,035.8	4,181.3
Equity
Shareholders' equity attributable to Pentair plc and subsidiaries	8,581.7
Total equity		6,384.3
Total liabilities and equity	12,617.5	10,565.6
Eliminations
Current assets
Accounts and notes receivable, net	0	(0.9)
Other current assets	(41.6)	(20.4)
Total current assets	(41.6)	(21.3)
Other assets
Investments in subsidiaries	(19,824.8)	(17,239)
Other non-current assets	(1,210.3)	(1,370.8)
Total other assets	(21,035.1)	(18,609.8)
Total assets	(21,076.7)	(18,631.1)
Current liabilities
Accounts payable	0	(0.9)
Other current liabilities	(41.6)	(20.4)
Total current liabilities	(41.6)	(21.3)
Other liabilities
Long-term debt	(1,210.3)	(1,370.8)
Other non-current liabilities	0	0
Total liabilities	(1,251.9)	(1,392.1)
Equity
Shareholders' equity attributable to Pentair plc and subsidiaries	(19,824.8)
Total equity		(17,239)
Total liabilities and equity	$ (21,076.7)	$ (18,631.1)

Financial Statements of Paren70

Financial Statements of Parent Company Guarantor - Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Jun. 27, 2015	Sep. 26, 2015	Sep. 27, 2014
Operating activities
Net cash provided by (used for) operating activities		$ 395.9	$ 683.4
Investing activities
Capital expenditures		(100.6)	(92.5)
Proceeds from sale of property and equipment		24.8	4.1
Payments to Acquire Businesses, Net of Cash Acquired	$ (96)	(1,913)	0
Payments for (Proceeds from) Other Investing Activities		(0.8)	0.9
Net Cash Provided by (Used in) Investing Activities, Continuing Operations		(1,989.6)	(87.5)
Cash Provided by (Used in) Investing Activities, Discontinued Operations		59	0
Net cash provided by (used for) investing activities		(1,930.6)	(87.5)
Financing activities
Net repayments of short-term borrowings		(2)	0.3
Net receipts of commercial paper and revolving long-term debt		276.5	426.2
Proceeds from Issuance of Long-term Debt		1,714.8	0
Repayments of long-term debt		(4.6)	(13.2)
Payments of Debt Issuance Costs		26.8	0
Excess tax benefits from share-based compensation		6	10
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options		21.9	30.3
Repurchases of ordinary shares		(200)	(850)
Dividends paid		(173.3)	(156.2)
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests		0	(134.7)
Net cash provided by (used for) financing activities		1,612.5	(687.3)
Effect of exchange rate changes on cash and cash equivalents		(43.3)	(8)
Change in cash and cash equivalents		34.5	(99.4)
Cash and cash equivalents, beginning of period		110.4	256
Cash and cash equivalents, end of period		144.9	156.6
Parent Company Guarantor
Operating activities
Net cash provided by (used for) operating activities		421.3	99.4
Investing activities
Payments to Acquire Businesses, Net of Cash Acquired		0
Net cash provided by (used for) investing activities			0
Financing activities
Net change in advances to subsidiaries		(48)	455.6
Repurchases of ordinary shares		200	(399.3)
Dividends paid		(173.3)	(156.2)
Net cash provided by (used for) financing activities		(421.3)	(99.9)
Change in cash and cash equivalents		0	(0.5)
Cash and cash equivalents, beginning of period		0	0.5
Cash and cash equivalents, end of period		0	0
Guarantor Subsidiary [Member]
Operating activities
Net cash provided by (used for) operating activities		393.3	94.2
Financing activities
Net change in advances to subsidiaries		(393.3)	(94.2)
Net cash provided by (used for) financing activities		(393.3)	(94.2)
Cash and cash equivalents, end of period		0
Subsidiary Issuer
Operating activities
Net cash provided by (used for) operating activities		406.1	88.1
Investing activities
Intercompany Loan Activity, Net		1,657.8
Net Cash Provided by (Used in) Investing Activities, Continuing Operations		1,657.8
Net cash provided by (used for) investing activities		1,657.8
Financing activities
Net receipts of commercial paper and revolving long-term debt		274.9	416.7
Proceeds from Issuance of Long-term Debt		1,714.8
Payments of Debt Issuance Costs		26.8
Net change in advances to subsidiaries		(4,021.2)	(551.6)
Net cash provided by (used for) financing activities		(2,058.3)	(134.9)
Effect of exchange rate changes on cash and cash equivalents		(5.5)
Change in cash and cash equivalents		0.1	(46.8)
Cash and cash equivalents, beginning of period		0.1	47
Cash and cash equivalents, end of period		0.2	0.2
Non-Guarantor Subsidiaries
Operating activities
Net cash provided by (used for) operating activities		408.1	718.8
Investing activities
Capital expenditures		(100.6)	(92.5)
Proceeds from sale of property and equipment		24.8	4.1
Payments to Acquire Businesses, Net of Cash Acquired		(1,913)
Intercompany Loan Activity, Net		(149.8)
Payments for (Proceeds from) Other Investing Activities		(0.8)	0.9
Net Cash Provided by (Used in) Investing Activities, Continuing Operations		(2,139.4)
Cash Provided by (Used in) Investing Activities, Discontinued Operations		59
Net cash provided by (used for) investing activities		(2,080.4)	(87.5)
Financing activities
Net repayments of short-term borrowings		(2)	0.3
Net receipts of commercial paper and revolving long-term debt		1.6	9.5
Repayments of long-term debt		(4.6)	(13.2)
Payments of Debt Issuance Costs		0
Excess tax benefits from share-based compensation		6	10
Net change in advances to subsidiaries		1,721.6	(126.9)
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options		21.9	30.3
Repurchases of ordinary shares		0	(450.7)
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests			(134.7)
Net cash provided by (used for) financing activities		1,744.5	(675.4)
Effect of exchange rate changes on cash and cash equivalents		(37.8)	(8)
Change in cash and cash equivalents		34.4	(52.1)
Cash and cash equivalents, beginning of period		110.3	208.5
Cash and cash equivalents, end of period		144.7	156.4
Eliminations
Operating activities
Net cash provided by (used for) operating activities		(1,232.9)	(317.1)
Investing activities
Intercompany Loan Activity, Net		(1,508)
Net Cash Provided by (Used in) Investing Activities, Continuing Operations		(1,508)
Net cash provided by (used for) investing activities		(1,508)
Financing activities
Net change in advances to subsidiaries		2,740.9	317.1
Net cash provided by (used for) financing activities		$ 2,740.9	$ 317.1