Pentair (PNR) 10-K 26 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Jun. 27, 2015
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-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false
Trading Symbol	PNR
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Common Stock, Shares Outstanding	180,455,693
Entity Public Float		$ 11,256,593,708

Consolidated Statements Of Oper

Consolidated Statements Of Operations And Comprehensive Income (Loss) - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Net sales	$ 6,449		$ 7,039		$ 6,999.7
Cost of goods sold	4,263.2		4,576		4,629.6
Gross profit	2,185.8		2,463		2,370.1
Selling, general and administrative	1,334.3		1,493.8		1,493.7
Research and development	119.6		117.3		122.8
Impairment of goodwill and trade names	554.7		0		11
Operating income	177.2		851.9		742.6
Other (income) expense
Loss (gain) on sale of businesses, net	3.2		0.2		(20.8)
Equity income of unconsolidated subsidiaries	(2.8)		(1.2)		(2)
Interest income	(6)		(3.7)		(4.4)
Interest expense	108.7		72.3		75.3
Income from continuing operations before income taxes and noncontrolling interest	74.1		784.3		694.5
Provision for income taxes	139.1		177.3		177
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest	(65)		607		517.5
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax	(4.7)		(6.4)		25.9
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax	(6.7)		(385.7)		(0.8)
Net income (loss) from continuing operations before noncontrolling interest	(76.4)		214.9		542.6
Noncontrolling interest	0		0		5.8
Net income (loss) attributable to Pentair plc	(76.4)		214.9		536.8
Income (Loss) from Continuing Operations Attributable to Pentair plc	(65)		607		511.7
Comprehensive income (loss), net of tax
Net income (loss) from continuing operations before noncontrolling interest	(76.4)		214.9		542.6
Changes in cumulative translation adjustment	(264.9)		(336.3)		(29.1)
Amortization of pension and other post-retirement prior service cost, net of $0, $0 and $0.2 tax, respectively	0		0		0.4
Changes in market value of derivative financial instruments, net of $0.5, $1.1 and $0.7 tax, respectively	0.2		(0.4)		(0.3)
Total comprehensive income (loss)	(341.1)		(121.8)		512.8
Less: Comprehensive income attributable to noncontrolling interest	0		0		8
Comprehensive income (loss) attributable to Pentair plc	$ (341.1)		$ (121.8)		$ 504.8
Earnings (loss) per ordinary share attributable to Pentair plc
Income (Loss) from Continuing Operations, Per Basic Share	$ (0.36)		$ 3.19		$ 2.54
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	(0.06)		(2.06)		0.13
Earnings Per Share, Basic	(0.42)	[1]	1.13	[1]	2.67
Income (Loss) from Continuing Operations, Per Diluted Share	(0.36)		3.14		2.50
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	(0.06)		(2.03)		0.12
Diluted	$ (0.42)	[1]	$ 1.11	[1]	$ 2.62
Weighted average ordinary shares outstanding
Basic (shares)	180.3		190.6		201.1
Diluted (shares)	182.6		193.7		204.6
[1]	Amounts may not total to annual earnings because each quarter and year are calculated separately based on basic and diluted weighted-average ordinary shares outstanding during that period

Consolidated Statements Of Ope3

Consolidated Statements Of Operations And Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Amortization of pension and other post-retirement prior service cost, tax	$ 0	$ 0	$ 0.2
Changes in market value of derivative financial instruments, tax	$ 0.5	$ 1.1	$ 0.7

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Current assets
Cash and cash equivalents	$ 126.3	$ 110.4
Accounts and notes receivable, net of allowances of $103.7 and $96.5, respectively	1,167.7	1,205.9
Inventories	1,174.3	1,130.4
Other current assets	312.3	366.8
Disposal Group, Including Discontinued Operation, Assets, Current	0	80.6
Total current assets	2,780.6	2,894.1
Property, plant and equipment, net	942.8	950
Other assets
Goodwill	5,255.4	4,741.9
Intangibles, net	2,490.1	1,608.1
Other non-current assets	388.1	436.2
Disposal Group, Including Discontinued Operation, Assets, Noncurrent	0	24.9
Total other assets	8,133.6	6,811.1
Total assets	11,857	10,655.2
Current liabilities
Current maturities of long-term debt and short-term borrowings	0.7	6.7
Accounts payable	578.8	583.1
Employee compensation and benefits	262.9	305.5
Other current liabilities	644.1	709.1
Disposal Group, Including Discontinued Operation, Liabilities, Current	0	35.1
Total current liabilities	1,486.5	1,639.5
Other liabilities
Long-term debt	4,709.3	2,997.4
Pension and other post-retirement compensation and benefits	287.2	322
Deferred tax liabilities	844.2	528.3
Other non-current liabilities	521	497.7
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent	0	6.5
Total liabilities	7,848.2	5,991.4
Equity
Ordinary shares $0.01 par value, 426.0 authorized, 180.5 and 202.4 issued at December 31, 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	2,860.3	4,250
Retained earnings	1,791.7	2,044
Accumulated other comprehensive loss	(645)	(380.3)
Total equity	4,008.8	4,663.8
Total liabilities and equity	$ 11,857	$ 10,655.2

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) shares in Millions, $ in Millions	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)shares
Accounts and notes receivable, allowances | $	$ 103.7	$ 96.5
Common stock, par value (per share) | (per share)	$ 0.01
Common stock, shares authorized	426	426
Common stock, shares issued	180.5	202.4
Treasury stock, shares	0	19.9

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating activities
Net income (loss) from continuing operations before noncontrolling interest	$ (76.4)	$ 214.9	$ 542.6
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax	4.7	6.4	(25.9)
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax	6.7	385.7	0.8
Adjustments to reconcile net income (loss) from continuing operations before noncontrolling interest to net cash provided by (used for) operating activities of continuing operations
Equity income of unconsolidated subsidiaries	(2.8)	(1.2)	(2)
Depreciation	139.5	138.7	141.3
Amortization	121.4	114	134.1
Loss (gain) on sale of businesses, net	3.2	0.2	(20.8)
Deferred income taxes	3	2	54
Share-based compensation	33	33.6	31.1
Impairment of goodwill and trade names	554.7	0	11
Excess tax benefits from share-based compensation	(6)	(12.6)	(16.8)
Amortization of Financing Costs	10.8	0	0
Pension and other post-retirement expense (income)	9.1	76.2	(31.3)
Pension and other post-retirement contributions	(24.7)	(27.7)	(34)
Changes in assets and liabilities, net of effects of business acquisitions
Accounts and notes receivable	48.8	9	(106.3)
Inventories	1.4	(3.7)	58.1
Other current assets	(21.7)	(22)	(5.7)
Accounts payable	(8.1)	34.5	41.1
Employee compensation and benefits	(41.1)	13.2	66.3
Other current liabilities	(31.2)	58.5	41.2
Other non-current assets and liabilities	25.7	(14.7)	52.5
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	750	1,005	931.3
Cash Provided by (Used in) Operating Activities, Discontinued Operations	(10.7)	3.4	(3.4)
Net cash provided by (used for) operating activities of continuing operations	739.3	1,008.4	927.9
Investing activities
Capital expenditures	(134.3)	(129.6)	(170)
Proceeds from sale of property and equipment	27.3	13.1	6
Proceeds from sale of businesses, net	0	0.3	43.5
Acquisitions, net of cash acquired	(1,913.9)	(12.3)	(92.4)
Other	(3.6)	0.2	1.7
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	(2,024.5)	(128.3)	(211.2)
Cash Provided by (Used in) Investing Activities, Discontinued Operations	59	0	0
Net cash provided by (used for) investing activities	(1,965.5)	(128.3)	(211.2)
Financing activities
Net receipts (repayments) of short-term borrowings	(2.3)	0.5	0
Net receipts of commercial paper and revolving long-term debt	363.5	468.6	104.2
Proceeds from long-term debt	1,714.8	2.2	0.7
Repayment of long-term debt	(356.6)	(16.8)	(7.4)
Debt issuance costs	(26.8)	(3.1)	(1.4)
Excess tax benefits from share-based compensation	6	12.6	16.8
Shares issued to employees, net of shares withheld	19.4	37	80
Repurchases of ordinary shares	(200)	(1,150)	(715.8)
Dividends paid	(231.7)	(211.4)	(194.2)
Purchase of / distribution to noncontrolling interest	0	(134.7)	(2)
Net cash provided by (used for) financing activities	1,286.3	(995.1)	(719.1)
Effect of exchange rate changes on cash and cash equivalents	(44.2)	(30.6)	21
Change in cash and cash equivalents	15.9	(145.6)	18.6
Cash and cash equivalents, beginning of year	110.4	256	237.4
Cash and cash equivalents, end of year	$ 126.3	$ 110.4	$ 256

Consolidated Statements Of Chan

Consolidated Statements Of Changes In Equity - USD ($) shares in Millions, $ in Millions	Total	Common shares	Treasury shares	Capital contribution reserve	Retained earnings	Accumulated other comprehensive income (loss)	Total Pentair plc	Noncontrolling interest
Beginning Balance at Dec. 31, 2012	$ 6,487.5	$ 113.5	$ (315.5)	$ 5,292.4	$ 1,292.3	$ (11.6)	$ 6,371.1	$ 116.4
Balance (in shares) at Dec. 31, 2012		(213)	6.9
Net income (loss) from continuing operations before noncontrolling interest	542.6				536.8		536.8	5.8
Other comprehensive income (loss), net of tax	(29.8)					(32)	(32)	2.2
Tax benefit of share-based compensation	22.6			22.6			22.6
Dividends declared	(198.5)			(198.5)	0		(198.5)
Distribution to noncontrolling interest	(2)							(2)
Share repurchase (in shares)		0	(12.3)
Share repurchase	(715.8)	$ 0	$ (715.8)	0			(715.8)
Exercise of options, net of shares tendered for payment (in shares)		0	3
Exercise of options, net of shares tendered for payment	96.2	$ 0	$ 131.8	(35.6)			96.2
Issuance of restricted shares, net of cancellations (in shares)		0	0.9
Issuance of restricted shares, net of cancellations	0	$ 0	$ 37	(37)			0
Shares surrendered by employees to pay taxes (in shares)		0	(0.3)
Shares surrendered by employees to pay taxes	(16.2)	$ 0	$ (12.6)	(3.6)			(16.2)
Share-based compensation	31.1			31.1			31.1
Balance (in shares) at Dec. 31, 2013		(213)	(15.6)
Ending 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
Net income (loss) from continuing operations before noncontrolling interest	214.9				214.9		214.9	0
Other comprehensive income (loss), net of tax	(336.7)					(336.7)	(336.7)	0
Tax benefit of share-based compensation	11.4			11.4			11.4
Dividends declared	(229.5)			(229.5)	0		(229.5)
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests	(134.7)		$ 0	(12.3)			(12.3)	(122.4)
Conversion of Stock, Amount Issued		$ (111.4)		111.4
Share repurchase (in shares)		(10.6)	(5.8)
Share repurchase	(1,150)	$ (0.1)	$ (450.7)	(699.2)			(1,150)
Exercise of options, net of shares tendered for payment (in shares)		0	1.3
Exercise of options, net of shares tendered for payment	46.5	$ 0	$ 60.9	(14.4)			46.5
Issuance of restricted shares, net of cancellations (in shares)		0	0.3
Issuance of restricted shares, net of cancellations	0	$ 0	$ 19.3	(19.3)			0
Shares surrendered by employees to pay taxes (in shares)		0	(0.1)
Shares surrendered by employees to pay taxes	(9.4)	$ 0	$ (6.3)	(3.1)	0	0	(9.4)	0
Share-based compensation	33.6			33.6	0		33.6	0
Balance (in shares) at Dec. 31, 2014		(202.4)	19.9
Ending Balance at Dec. 31, 2014	4,663.8	$ 2	$ (1,251.9)	4,250	2,044	(380.3)	4,663.8	0
Net income (loss) from continuing operations before noncontrolling interest	(76.4)				(76.4)		(76.4)	0
Other comprehensive income (loss), net of tax	(264.7)					(264.7)	(264.7)	0
Tax benefit of share-based compensation	5.7			5.7			5.7
Dividends declared	(174.4)			(1.5)	(175.9)		(174.4)
Share repurchase (in shares)		(3.1)	0
Share repurchase	$ (200)	$ 0	$ 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)
Exercise of options, net of shares tendered for payment (in shares)	0.7		0.7
Exercise of options, net of shares tendered for payment	$ 31.1		$ 34.6	(3.5)			31.1
Issuance of restricted shares, net of cancellations (in shares)			0.2
Issuance of restricted shares, net of cancellations	0		$ 9.4	(9.4)			0
Shares surrendered by employees to pay taxes (in shares)			(0.1)
Shares surrendered by employees to pay taxes	(9.3)		$ (3)	(6.3)			(9.3)
Share-based compensation	33			33			33
Balance (in shares) at Dec. 31, 2015		(180.5)	0
Ending Balance at Dec. 31, 2015	$ 4,008.8	$ 1.8	$ 0	$ 2,860.3	$ 1,791.7	$ (645)	$ 4,008.8	$ 0

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies Business Pentair plc and its consolidated subsidiaries (the "Company" or "Pentair") is a focused diversified industrial manufacturing company comprising four reporting segments: Valves & Controls, Flow & Filtration Solutions, Water Quality Systems and Technical Solutions. 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. Our former parent company, Pentair Ltd., took its form on September 28, 2012 as a result of a reverse acquisition (the "Merger") involving Pentair, Inc. and an indirect, wholly-owned subsidiary of Flow Control (defined below), with Pentair, Inc. surviving as an indirect, wholly-owned subsidiary of ours. "Flow Control" refers to Pentair Ltd. prior to the Merger. Prior to the Merger, Tyco International Ltd. ("Tyco") engaged in an internal restructuring whereby it transferred to Flow Control certain assets related to the flow control business of Tyco, and Flow Control assumed from Tyco certain liabilities related to the flow control business of Tyco. On September 28, 2012 prior to the Merger, Tyco effected a spin-off of Flow Control through the pro-rata distribution of 100% of the outstanding ordinary shares of Flow Control to Tyco’s shareholders (the "Distribution"), resulting in the distribution of approximately 110.9 million of our ordinary shares to Tyco’s shareholders. Basis of presentation The accompanying consolidated financial statements include the accounts of Pentair and all subsidiaries, both the United States ("U.S.") and non-U.S., which we control. Intercompany accounts and transactions have been eliminated. Investments in companies of which we own 20% to 50% of the voting stock or have the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting and as a result, our share of the earnings or losses of such equity affiliates is included in the Consolidated Statements of Operations and Comprehensive Income (Loss). The consolidated financial statements have been prepared in U.S. dollars ("USD") and in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Fiscal year Our fiscal year ends on December 31. We reported our interim quarterly periods on a 13-week basis ending on a Saturday during 2015, 2014 and 2013. Beginning in 2016, we will report our interim quarterly periods on a calendar quarter basis. Use of estimates The preparation of our consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported in these consolidated financial statements and accompanying notes, disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates include our accounting for valuation of goodwill and indefinite lived intangible assets, estimated losses on accounts receivable, estimated realizable value on excess and obsolete inventory, percentage of completion revenue recognition, assets acquired and liabilities assumed in acquisitions, estimated selling proceeds from assets held for sale, contingent liabilities, income taxes and pension and other post-retirement benefits. Actual results could differ from our estimates. Revenue recognition We recognize revenue when it is realized or realizable and has been earned. Revenue is recognized when persuasive evidence of an arrangement exists, shipment or delivery has occurred (depending on the terms of the sale), our price to the buyer is fixed or determinable, and collectability is reasonably assured. Generally, there is no post-shipment obligation on product sold other than warranty obligations in the normal and ordinary course of business. In the event significant post-shipment obligations were to exist, revenue recognition would be deferred until substantially all obligations were satisfied. Percentage of completion Revenue from certain long-term contracts is recognized over the contractual period under the percentage of completion method of accounting. Under this method, sales and gross profit are recognized as work is performed either based on the relationship between the actual costs incurred and the total estimated costs at completion ("the cost-to-cost method") or based on efforts for measuring progress towards completion in situations in which this approach is more representative of the progress on the contract than the cost-to-cost method. Changes to the original estimates may be required during the life of the contract and such estimates are reviewed on a regular basis. Sales and gross profit are adjusted using the cumulative catch-up method for revisions in estimated total contract costs. These reviews have not resulted in adjustments that were significant to our results of operations. Estimated losses are recorded when identified. Claims against customers are recognized as revenue upon settlement. We record costs and earnings in excess of billings on uncompleted contracts within Other current assets and billings in excess of costs and earnings on uncompleted contracts within Other current liabilities in the Consolidated Balance Sheets. Sales returns The right of return may exist explicitly or implicitly with our customers. Generally, our return policy allows for customer returns only upon our authorization. Goods returned must be product we continue to market and must be in salable condition. Returns of custom or modified goods are normally not allowed. At the time of sale, we reduce revenue for the estimated effect of returns. Estimated sales returns include consideration of historical sales levels, the timing and magnitude of historical sales return levels as a percent of sales, type of product, type of customer and a projection of this experience into the future. Pricing and sales incentives We record estimated reductions to revenue for customer programs and incentive offerings including pricing arrangements, promotions and other volume-based incentives at the later of the date revenue is recognized or the incentive is offered. Sales incentives given to our customers are recorded as a reduction of revenue unless we (1) receive an identifiable benefit for the goods or services in exchange for the consideration and (2) we can reasonably estimate the fair value of the benefit received. Pricing is established at or prior to the time of sale with our customers and we record sales at the agreed-upon net selling price. However, one of our businesses allows customers to apply for a refund of a percentage of the original purchase price if they can demonstrate sales to a qualifying end customer. At the time of sale, we estimate the anticipated refund to be paid based on historical experience and reduce sales for the probable cost of the discount. The cost of these refunds is recorded as a reduction in gross sales. Volume-based incentives involve rebates that are negotiated at or prior to the time of sale with the customer and are redeemable only if the customer achieves a specified cumulative level of sales or sales increase. Under these incentive programs, at the time of sale, we reforecast the anticipated rebate to be paid based on forecasted sales levels. These forecasts are updated at least quarterly for each customer and sales are reduced for the anticipated cost of the rebate. If the forecasted sales for a customer changes, the accrual for rebates is adjusted to reflect the new amount of rebates expected to be earned by the customer. Shipping and handling costs Amounts billed to customers for shipping and handling are recorded in Net sales in the accompanying Consolidated Statements of Operations and Comprehensive Income (Loss). Shipping and handling costs incurred by Pentair for the delivery of goods to customers are included in Cost of goods sold in the accompanying Consolidated Statements of Operations and Comprehensive Income (Loss). Research and development We conduct research and development ("R&D") activities in our own facilities, which consist primarily of the development of new products, product applications and manufacturing processes. We expense R&D costs as incurred. R&D expenditures during 2015 , 2014 and 2013 were $119.6 million , $117.3 million and $122.8 million , respectively. Cash equivalents We consider highly liquid investments with original maturities of three months or less to be cash equivalents. Trade receivables and concentration of credit risk We record an allowance for doubtful accounts, reducing our receivables balance to an amount we estimate is collectible from our customers. Estimates used in determining the allowance for doubtful accounts are based on current trends, aging of accounts receivable, periodic credit evaluations of our customers’ financial condition, and historical collection experience. We generally do not require collateral. No customer receivable balances exceeded 10% of total net receivable balances as of December 31, 2015 or December 31, 2014 . Inventories Inventories are stated at the lower of cost or market with substantially all inventories recorded using the first-in, first-out ("FIFO") cost method and with an insignificant amount of inventories located outside the U.S. recorded using a moving average cost method which approximates FIFO. Property, plant and equipment, net Property, plant and equipment is stated at historical cost. We compute depreciation by the straight-line method based on the following estimated useful lives: Years Land improvements 5 to 20 Buildings and leasehold improvements 5 to 50 Machinery and equipment 3 to 15 Significant improvements that add to productive capacity or extend the lives of properties are capitalized. Costs for repairs and maintenance are charged to expense as incurred. When property is retired or otherwise disposed of, the recorded cost of the assets and their related accumulated depreciation are removed from the Consolidated Balance Sheets and any related gains or losses are included in income. We review the recoverability of long-lived assets to be held and used, such as property, plant and equipment, when events or changes in circumstances occur that indicate the carrying value of the asset or asset group may not be recoverable. The assessment of possible impairment is based on our ability to recover the carrying value of the asset or asset group from the expected future pre-tax cash flows (undiscounted and without interest charges) of the related operations. If these cash flows are less than the carrying value of such asset or asset group, an impairment loss is recognized for the difference between estimated fair value and carrying value. Impairment losses on long-lived assets held for sale are determined in a similar manner, except that fair values are reduced for the cost to dispose of the assets. The measurement of impairment requires us to estimate future cash flows and the fair value of long-lived assets. During 2015 , 2014 and 2013 , we recorded impairment charges of $17.7 million , $20.9 million and $16.6 million , respectively, in conjunction with restructuring activities. Goodwill and identifiable intangible assets Goodwill Goodwill represents the excess of the cost of acquired businesses over the net of the fair value of identifiable tangible net assets and identifiable intangible assets purchased and liabilities assumed. Goodwill is tested annually for impairment and is tested for impairment more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test is performed using a two-step process. In the first step, the fair value of each reporting unit is compared with the carrying amount of the reporting unit, including goodwill. If the estimated fair value is less than the carrying amount of the reporting unit there is an indication that goodwill impairment exists and a second step must be completed in order to determine the amount of the goodwill impairment, if any, that should be recorded. In the second step, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation. The fair value of each reporting unit is determined using a discounted cash flow analysis and market approach. Projecting discounted future cash flows requires us to make significant estimates regarding future revenues and expenses, projected capital expenditures, changes in working capital and the appropriate discount rate. Use of the market approach consists of comparisons to comparable publicly-traded companies that are similar in size and industry. Actual results may differ from those used in our valuations. This non-recurring fair value measurement is a "Level 3" measurement under the fair value hierarchy described below. In developing our discounted cash flow analysis, assumptions about future revenues and expenses, capital expenditures and changes in working capital, are based on our annual operating plan and long-term business plan for each of our reporting units. These plans take into consideration numerous factors including historical experience, anticipated future economic conditions, changes in raw material prices and growth expectations for the industries and end markets we participate in. These assumptions are determined over a six year long-term planning period. The six year growth rates for revenues and operating profits vary for each reporting unit being evaluated. Revenues and operating profit beyond 2021 are projected to grow at a perpetual growth rate of 3.0% . Discount rate assumptions for each reporting unit take into consideration our assessment of risks inherent in the future cash flows of the respective reporting unit and our weighted-average cost of capital. We utilized discount rates ranging from 9.5% to 12.5% in determining the discounted cash flows in our fair value analysis. In estimating fair value using the market approach, we identify a group of comparable publicly-traded companies for each reporting unit that are similar in terms of size and product offering. These groups of comparable companies are used to develop multiples based on total market-based invested capital as a multiple of earnings before interest, taxes, depreciation and amortization ("EBITDA"). We determine our estimated values by applying these comparable EBITDA multiples to the operating results of our reporting units. The ultimate fair value of each reporting unit is determined considering the results of both valuation methods. We completed step one of our annual goodwill impairment evaluation as of the first day of the fourth quarter of 2015 , 2014 and 2013 with each reporting unit’s fair value in excess of its carrying value. During the latter part of the fourth quarter of 2015 , the oil and gas industry continued to deteriorate, leading management to reconsider its estimates for future profitability of the Valves & Controls reporting unit and thereby increasing the likelihood that the associated goodwill could be impaired. As such, we concluded that a triggering event occurred during the fourth quarter of 2015 requiring that we test Valves & Controls goodwill for impairment. As a result, we reperformed our step one analysis as of December 31, 2015 . The results of our step one goodwill impairment testing as of December 31, 2015 indicated that the fair value of Valves & Controls was below its carrying value. Accordingly, we performed the step two test and concluded the goodwill of Valves & Controls was impaired. As a result, we recorded a non-cash goodwill impairment charge of $515.2 million for the year ended December 31, 2015 . The impairment is included in Impairment of goodwill and trade names in our Consolidated Statements of Operations and Comprehensive Income (Loss). The non-recurring fair value measurement is a "Level 3" measurement under the fair value hierarchy described below. Identifiable intangible assets Our primary identifiable intangible assets include: customer relationships, trade names, proprietary technology and patents. Identifiable intangibles with finite lives are amortized and those identifiable intangibles with indefinite lives are not amortized. Identifiable intangible assets that are subject to amortization are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Identifiable intangible assets not subject to amortization are tested for impairment annually or more frequently if events warrant. The impairment test for trade names consists of a comparison of the fair value of the trade name with its carrying value. Fair value is measured using the relief-from-royalty method. This method assumes the trade name has value to the extent that the owner is relieved of the obligation to pay royalties for the benefits received from them. This method requires us to estimate the future revenue for the related brands, the appropriate royalty rate and the weighted average cost of capital. The non-recurring fair value measurement is a "Level 3" measurement under the fair value hierarchy described below. As noted above, during the latter part of the fourth quarter of 2015 , the oil and gas industry continued to deteriorate, leading management to reconsider its estimates for future profitability of the Valves & Controls and thereby increasing the likelihood that the associated intangible assets could be impaired. As such, we concluded that a triggering event occurred during the fourth quarter of 2015 requiring that we test Valves & Controls trade names for impairment. As a result of this test, an impairment charge of $39.5 million was recorded in 2015 related to trade names in Valves & Controls. There was no impairment charge recorded in 2014 for identifiable intangible assets. An impairment charge of $11.0 million was recorded in 2013 related to a trade name in Technical Solutions as the result of a rebranding strategy implemented in the fourth quarter of 2013 . These trade name impairment charges were recorded in Impairment of goodwill and trade names in our Consolidated Statements of Operations and Comprehensive Income (Loss). Equity and cost method investments We have investments that are accounted for using the equity method. Our proportionate share of income or losses from investments accounted for under the equity method is recorded in the Consolidated Statements of Operations and Comprehensive Income (Loss). We write down or write off an investment and recognize a loss when events or circumstances indicate there is impairment in the investment that is other-than-temporary. This requires significant judgment, including assessment of the investees’ financial condition and in certain cases the possibility of subsequent rounds of financing, as well as the investees’ historical and projected results of operations and cash flows. If the actual outcomes for the investees are significantly different from projections, we may incur future charges for the impairment of these investments. Our investment in and loans to equity method investees was $36.0 million and $12.9 million at December 31, 2015 and December 31, 2014 , respectively, net of our proportionate share of the results of their operations. Investments for which we do not have significant influence are accounted for under the cost method. The aggregate balance of these investments was $9.3 million and $8.6 million at December 31, 2015 and December 31, 2014 , respectively. Income taxes We use the asset and liability approach to account for income taxes. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of differences between the carrying amounts of assets and liabilities and their respective tax bases using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period when the change is enacted. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Changes in valuation allowances from period to period are included in our tax provision in the period of change. We recognize the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs. Pension and other post-retirement plans We sponsor U.S. and Non-U.S. defined-benefit pension and other post-retirement plans. The pension and other post-retirement benefit costs for company-sponsored benefit plans are determined from actuarial assumptions and methodologies, including discount rates, expected returns on plan assets and health care cost trend rates. These assumptions are updated annually and are disclosed in Note 13. We recognize changes in the fair value of plan assets and net actuarial gains or losses for pension and other post-retirement benefits annually in the fourth quarter each year ("mark-to-market adjustment") and, if applicable, in any quarter in which an interim remeasurement is triggered. Net actuarial gains and losses occur when the actual experience differs from any of the various assumptions used to value our pension and other post-retirement plans or when assumptions change, as they may each year. The remaining components of pension expense, including service and interest costs and estimated return on plan assets, are recorded on a quarterly basis. Environmental We recognize environmental clean-up liabilities on an undiscounted basis when a loss is probable and can be reasonably estimated. Such liabilities generally are not subject to insurance coverage. The cost of each environmental clean-up is estimated by engineering, financial and legal specialists based on current law. Such estimates are based primarily upon the estimated cost of investigation and remediation required and the likelihood that, where applicable, other potentially responsible parties ("PRPs") will be able to fulfill their commitments at the sites where Pentair may be jointly and severally liable. The process of estimating environmental clean-up liabilities is complex and dependent primarily on the nature and extent of historical information and physical data relating to a contaminated site, the complexity of the site, the uncertainty as to what remedy and technology will be required and the outcome of discussions with regulatory agencies and other PRPs at multi-party sites. In future periods, new laws or regulations, advances in clean-up technologies and additional information about the ultimate clean-up remedy that is used could significantly change our estimates. Accruals for environmental liabilities are included in Other current liabilities and Other non-current liabilities in the Consolidated Balance Sheets. Asbestos matters We recognize asbestos-related liabilities on an undiscounted basis when a loss is probable and can be reasonably estimated. Certain of these liabilities are subject to insurance coverage and we recognize receivables for asbestos-related insurance recoveries only when realization of the claim is deemed probable. 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. The process of estimating asbestos-related liabilities and the corresponding insurance recoveries receivable is complex and dependent primarily on our historical claim experience, estimates of potential future claims, our legal strategy for resolving these claims, the availability of insurance coverage, and the solvency and creditworthiness of insurers. On an annual basis, we review, and update as appropriate, such estimated asbestos liabilities and assets and the underlying assumptions. Accruals for asbestos-related liabilities are included in Other non-current liabilities and the estimated receivable for insurance recoveries are recorded in Other non-current assets in the Consolidated Balance Sheets. Insurance subsidiary We insure certain general and product liability, property, workers’ compensation and automobile liability risks through our regulated wholly-owned captive insurance subsidiary, Penwald Insurance Company ("Penwald"). Reserves for policy claims are established based on actuarial projections of ultimate losses. As of December 31, 2015 and 2014 , reserves for policy claims were $62.2 million ( $13.2 million included in Other current liabilities and $49.0 million included in Other non-current liabilities ) and $58.1 million ( $13.2 million included in Other current liabilities and $44.9 million included in Other non-current liabilities ), respectively. Share-based compensation We account for share-based compensation awards on a fair value basis. The estimated grant date fair value of each option award is recognized in income on an accelerated basis over the requisite service period (generally the vesting period). The estimated fair value of each option award is calculated using the Black-Scholes option-pricing model. From time to time, we have elected to modify the terms of the original grant. These modified grants are accounted for as a new award and measured using the fair value method, resulting in the inclusion of additional compensation expense in our Consolidated Statements of Operations and Comprehensive Income (Loss). Restricted share awards and units are recorded as compensation cost on an accelerated basis over the requisite service periods based on the market value on the date of grant. Earnings (loss) per ordinary share Basic earnings (loss) per share are computed by dividing net income (loss) attributable to Pentair plc by the weighted-average number of ordinary shares outstanding. Diluted earnings (loss) per share are computed by dividing net income (loss) attributable to Pentair plc by the weighted-average number of ordinary shares outstanding including the dilutive effects of ordinary share equivalents. Derivative financial instruments We recognize all derivatives, including those embedded in other contracts, as either assets or liabilities at fair value in our Consolidated Balance Sheets. If the derivative is designated and is effective as a cash-flow hedge, changes in the fair value of the derivative are recorded in Accumulated other comprehensive income (loss) ("AOCI") as a separate component of equity in the Consolidated Balance Sheets and is recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss) when the hedged item affects earnings. If the underlying hedged transaction ceases to exist or if the hedge becomes ineffective, all changes in fair value of the related derivatives that have not been settled are recognized in current earnings. For a derivative that is not designated as or does not qualify as a hedge, changes in fair value are reported in earnings immediately. Gains and losses on net investment hedges are included in AOCI as a separate component of equity in the Consolidated Balance Sheets. We use derivative instruments for the purpose of hedging interest rate and currency exposures, which exist as part of ongoing business operations. We do not hold or issue derivative financial instruments for trading or speculative purposes. All other contracts that contain provisions meeting the definition of a derivative also meet the requirements of and have been designated as, normal purchases or sales. Our policy is not to enter into contracts with terms that cannot be designated as normal purchases or sales. From time to time, we may enter into short duration foreign currency contracts to hedge foreign currency risks. 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. Foreign currency translation The financial statements of subsidiaries located outside of the U.S. are generally measured using the local currency as the functional currency, except for certain corporate entities outside of the U.S. which are measured using USD. Assets and liabilities of these subsidiaries are translated at the rates of exchange at the balance sheet date. Income and expense items are translated at average monthly rates of exchange. The resultant translation adjustments are included in AOCI, a separate component of equity. New accounting standards In November 2015, the Financial Accounting Standards Board (the "FASB") issued a new accounting standard which clarifies and simplifies the balance sheet classification of deferred tax assets and liabilities. Under the new standard, all deferred tax assets and liabilities are required to be classified as non-current in a classified balance sheet. The new standard is effective for fiscal years beginning after December 15, 2016, including interim periods within that reporting period, and early adoption is permitted. We have not yet determined the impact this standard will have on our financial condition. In September 2015, 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. We adopted

Acquisitions and Divestitures

Acquisitions and Divestitures	12 Months Ended
	Dec. 31, 2015
Acquisitions	Acquisitions Material 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 income tax-related items. We expect the purchase price allocation to be completed in the first half 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 As Originally Reported As Revised Cash $ 11.6 $ 11.8 Accounts receivable 76.7 75.9 Inventories 99.0 102.4 Other current assets 9.5 2.9 Property, plant and equipment 27.0 53.4 Identifiable intangible assets 964.6 1,033.8 Goodwill 1,102.8 1,061.9 Current liabilities (96.0 ) (97.2 ) Deferred income taxes, including current (373.0 ) (418.8 ) Other liabilities (4.1 ) (8.0 ) Purchase price $ 1,818.1 $ 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 $1,061.9 million , none of which is expected to be deductible for income tax purposes. Identifiable intangible assets acquired as part of the ERICO Acquisition include $228.4 million of indefinite-lived trade name intangible assets and $805.4 million of definite-lived customer relationships with an estimated useful life of 21 years. ERICO's net sales and net income for the period from the acquisition date to December 31, 2015 were $147.0 million and $12.7 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 prior annual reporting period: Years ended December 31 In millions, except share and per-share data 2015 2014 Pro forma net sales $ 6,835.2 $ 7,596.0 Pro forma net income (loss) from continuing operations (1.6 ) 609.2 Pro forma earnings (loss) per ordinary share - continuing operations Basic $ (0.01 ) $ 3.20 Diluted (0.01 ) 3.15 The unaudited pro forma net income (loss) from continuing operations for the year ended December 31, 2014 was adjusted to include the impact of $32.8 million in non-recurring items related to acquisition date fair value adjustments to inventory. The unaudited pro forma net income (loss) for the year ended December 31, 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. Other acquisitions 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. In November 2015, cash of $0.9 million ( 1.2 million Canadian dollars translated at the average monthly exchange rate) was paid to Nuheat in settlement of a working capital adjustment. 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 $43.2 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 two entities, 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 a 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 Discontinues Operations and Divestitures	12 Months Ended
	Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	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 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). In addition, during the first quarter of 2014 and fourth quarter of 2013, we sold portions of our Water Transport business in Australia and New Zealand, respectively, resulting in losses of $5.6 million , net of a $2.4 million tax benefit, and $0.8 million , net of a $0.3 million tax benefit, respectively. During 2015, we sold the remainder of our Water Transport business and received cash proceeds of $59.0 million . 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: Years ended December 31 In millions 2015 2014 2013 Net sales $ 18.6 $ 295.8 $ 490.1 Cost of goods sold 18.1 250.2 387.4 Gross profit $ 0.5 $ 45.6 $ 102.7 Income (loss) from discontinued operations before income taxes $ (7.1 ) $ 1.5 $ 33.0 Income tax benefit (provision) 2.4 (7.9 ) (7.1 ) Income (loss) from discontinued operations, net of tax $ (4.7 ) $ (6.4 ) $ 25.9 Loss from sale / impairment of discontinued operations before income taxes $ (6.7 ) $ (400.4 ) $ (1.1 ) Income tax benefit — 14.7 0.3 Loss from sale / impairment of discontinued operations, net of tax $ (6.7 ) $ (385.7 ) $ (0.8 ) The carrying amounts of major classes of assets and liabilities that were classified as held for sale on the Consolidated Balance Sheets were as follows: December 31 In millions 2015 2014 Cash and cash equivalents $ — $ 7.0 Accounts and notes receivable, net — 28.8 Inventories — 30.1 Other current assets — 14.7 Current assets held for sale $ — $ 80.6 Property, plant and equipment, net $ — $ 18.5 Other non-current assets — 6.4 Non-current assets held for sale $ — $ 24.9 Accounts payable $ — $ 12.2 Employee compensation and benefits — 11.3 Other current liabilities — 11.6 Current liabilities held for sale $ — $ 35.1 Long-term debt $ — $ 4.0 Pension and other post-retirement compensation and benefits — 2.5 Non-current liabilities held for sale $ — $ 6.5 Divestitures During 2013, we sold businesses that were part of Technical Solutions and Flow & Filtration Solutions for a cash purchase price of $30.1 million and $13.4 million , respectively, net of transaction costs, resulting in a gain of $16.8 million and $4.0 million , respectively. Goodwill of $5.3 million and $5.7 million was included in the assets of the business sold for Technical Solutions and Flow & Filtration Solutions, respectively.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	12 Months Ended
	Dec. 31, 2015
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic and diluted earnings (loss) per share were calculated as follows: Years ended December 31 In millions, except per share data 2015 2014 2013 Net income (loss) attributable to Pentair plc $ (76.4 ) $ 214.9 $ 536.8 Net income (loss) from continuing operations attributable to Pentair plc $ (65.0 ) $ 607.0 $ 511.7 Weighted average ordinary shares outstanding Basic 180.3 190.6 201.1 Dilutive impact of stock options and restricted stock awards 2.3 3.1 3.5 Diluted 182.6 193.7 204.6 Earnings (loss) per ordinary share attributable to Pentair plc Basic Continuing operations $ (0.36 ) $ 3.19 $ 2.54 Discontinued operations (0.06 ) (2.06 ) 0.13 Basic earnings (loss) per ordinary share attributable to Pentair plc $ (0.42 ) $ 1.13 $ 2.67 Diluted Continuing operations $ (0.36 ) $ 3.14 $ 2.50 Discontinued operations (0.06 ) (2.03 ) 0.12 Diluted earnings (loss) per ordinary share attributable to Pentair plc $ (0.42 ) $ 1.11 $ 2.62 Anti-dilutive stock options excluded from the calculation of diluted earnings per share 1.3 0.5 0.2

Restructuring

Restructuring	12 Months Ended
	Dec. 31, 2015
Restructuring	Restructuring During 2015 , 2014 and 2013 , we initiated and continued execution of certain business restructuring initiatives aimed at reducing our fixed cost structure and realigning our business. The 2015 initiatives included a reduction in hourly and salaried headcount of approximately 3,000 employees, which included 2,500 in Valves & Controls, 200 in Flow & Filtration Solutions, 100 in Water Quality Systems and 200 in Technical Solutions. The 2014 initiatives included the reduction in hourly and salaried headcount of approximately 1,150 employees, which included 600 in Valves & Controls, 350 in Flow & Filtration Solutions, 50 in Water Quality Systems and 150 in Technical Solutions. The 2013 initiatives included the reduction in hourly and salaried headcount of approximately 1,100 employees, which included 500 in Valves & Controls, 250 in Flow & Filtration Solutions, 50 in Water Quality Systems and 300 in Technical Solutions. Restructuring related costs included in Selling, general and administrative expenses in the Consolidated Statements of Operations and Comprehensive Income (Loss) included costs for severance and other restructuring costs as follows: Years ended December 31 In millions 2015 2014 2013 Severance and related costs $ 96.7 $ 58.9 $ 81.5 Other 21.1 29.4 21.7 Total restructuring costs $ 117.8 $ 88.3 $ 103.2 Other restructuring costs primarily consist of asset impairment and various contract termination costs. Restructuring costs by reportable segment were as follows: Years ended December 31 In millions 2015 2014 2013 Valves & Controls $ 76.5 $ 48.8 $ 51.0 Flow & Filtration Solutions 11.2 14.0 17.8 Water Quality Systems 6.2 15.2 5.0 Technical Solutions 15.7 4.3 19.4 Other 8.2 6.0 10.0 Consolidated $ 117.8 $ 88.3 $ 103.2 Activity in the restructuring accrual recorded in Other current liabilities and Employee compensation and benefits in the Consolidated Balance Sheets is summarized as follows: Years ended December 31 In millions 2015 2014 Beginning balance $ 73.4 $ 68.6 Costs incurred 96.7 58.9 Cash payments and other (78.9 ) (54.1 ) Ending balance $ 91.2 $ 73.4

Goodwill and Other Identifiable

Goodwill and Other Identifiable Intangible Assets	12 Months Ended
	Dec. 31, 2015
Goodwill and Other Identifiable Intangible Assets	Goodwill and Other Identifiable Intangible Assets The changes in the carrying amount of goodwill for the years ended December 31, 2015 and 2014 by reportable segment were as follows: In millions December 31, 2014 Acquisitions/ Impairment Foreign currency December 31, 2015 Valves & Controls $ 1,511.6 $ — $ (515.2 ) $ — $ 996.4 Flow & Filtration Solutions 942.4 — — (59.7 ) 882.7 Water Quality Systems 1,137.6 — — (16.5 ) 1,121.1 Technical Solutions 1,150.3 1,116.4 — (11.5 ) 2,255.2 Total goodwill $ 4,741.9 $ 1,116.4 $ (515.2 ) $ (87.7 ) $ 5,255.4 In millions December 31, 2013 Acquisitions/ Foreign currency December 31, 2014 Valves & Controls $ 1,511.6 $ — $ — $ 1,511.6 Flow & Filtration Solutions 1,036.4 — (94.0 ) 942.4 Water Quality Systems 1,154.7 6.8 (23.9 ) 1,137.6 Technical Solutions 1,158.0 — (7.7 ) 1,150.3 Total goodwill $ 4,860.7 $ 6.8 $ (125.6 ) $ 4,741.9 Accumulated goodwill impairment losses were $715.7 million and $200.5 million as of December 31, 2015 and 2014 , respectively. Identifiable intangible assets consisted of the following at December 31: 2015 2014 In millions Cost Accumulated amortization Net Cost Accumulated amortization Net Finite-life intangibles Customer relationships $ 2,078.7 $ (415.8 ) $ 1,662.9 $ 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 249.3 (114.2 ) 135.1 255.7 (96.7 ) 159.0 Total finite-life intangibles 2,329.8 (531.2 ) 1,798.6 1,505.5 (423.0 ) 1,082.5 Indefinite-life intangibles Trade names 691.5 — 691.5 525.6 — 525.6 Total intangibles $ 3,021.3 $ (531.2 ) $ 2,490.1 $ 2,031.1 $ (423.0 ) $ 1,608.1 Identifiable intangible asset amortization expense in 2015 , 2014 and 2013 was $121.4 million , $114.0 million and $134.1 million , respectively. In 2015 , we recorded an impairment charge for trade name intangible assets of $39.5 million in Valves & Controls. There were no impairment charges recorded in 2014 . In 2013, we recorded an impairment charge for trade name intangible assets of $11.0 million in Technical Solutions. Estimated future amortization expense for identifiable intangible assets during the next five years is as follows: In millions 2016 2017 2018 2019 2020 Estimated amortization expense $ 149.5 $ 148.0 $ 145.6 $ 138.8 $ 133.7

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	12 Months Ended
	Dec. 31, 2015
Supplemental Balance Sheet Information	Supplemental Balance Sheet Information December 31 In millions 2015 2014 Inventories Raw materials and supplies $ 433.0 $ 460.1 Work-in-process 249.2 229.0 Finished goods 492.1 441.3 Total inventories $ 1,174.3 $ 1,130.4 Other current assets Cost in excess of billings $ 114.4 $ 103.5 Prepaid expenses 87.6 109.6 Deferred income taxes 96.7 139.4 Other current assets 13.6 14.3 Total other current assets $ 312.3 $ 366.8 Property, plant and equipment, net Land and land improvements $ 161.9 $ 165.1 Buildings and leasehold improvements 518.8 493.5 Machinery and equipment 1,287.6 1,169.1 Construction in progress 79.3 71.0 Total property, plant and equipment 2,047.6 1,898.7 Accumulated depreciation and amortization 1,104.8 948.7 Total property, plant and equipment, net $ 942.8 $ 950.0 Other non-current assets Asbestos-related insurance receivable $ 111.0 $ 115.8 Deferred income taxes 62.8 87.9 Other non-current assets 214.3 232.5 Total other non-current assets $ 388.1 $ 436.2 Other current liabilities Deferred revenue and customer deposits $ 94.6 $ 112.7 Dividends payable 59.6 116.8 Billings in excess of cost 32.0 41.4 Accrued warranty 59.8 66.4 Other current liabilities 398.1 371.8 Total other current liabilities $ 644.1 $ 709.1 Other non-current liabilities Asbestos-related liabilities $ 237.9 $ 249.1 Taxes payable 71.1 61.6 Other non-current liabilities 212.0 187.0 Total other non-current liabilities $ 521.0 $ 497.7

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Information	Supplemental Cash Flow Information Years ended December 31 In millions 2015 2014 2013 Cash paid for interest, net $ 76.9 $ 67.5 $ 69.4 Cash paid for income taxes, net 182.8 134.2 91.2

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Components of AOCI consist of the following: December 31 In millions 2015 2014 Cumulative translation adjustments $ (635.9 ) $ (371.0 ) Market value of derivative financial instruments, net of tax (9.1 ) (9.3 ) Accumulated other comprehensive loss $ (645.0 ) $ (380.3 )

Debt

Debt	12 Months Ended
	Dec. 31, 2015
Debt	Debt Debt and the average interest rates on debt outstanding were as follows: In millions Average interest rate at December 31, 2015 Maturity year December 31 2015 2014 Commercial paper 1.308% 2019 $ 179.5 $ 987.6 Revolving credit facilities 1.581% 2019 1,181.4 9.8 Senior notes - fixed rate 1.350% 2015 — 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 548.4 — 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 4.670% 2016 0.7 6.7 Total debt 4,710.0 3,004.1 Less: Current maturities and short-term borrowings (0.7 ) (6.7 ) Long-term debt $ 4,709.3 $ 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, 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. Prior to its maturity and repayment in the fourth quarter of 2015, the 1.35% Senior Notes due 2015 were also 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 December 31, 2015 and 2014 , we had $179.5 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. 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, and up to a lifetime maximum $25.0 million of costs, fees and expenses incurred in connect with certain acquisitions, investments, dispositions and the issuance, repayment or refinancing debt, and in addition (but without duplication of) the fees, cost 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 incurrance, 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 December 31, 2015 , we were in compliance with all financial covenants in our debt agreements. Total availability under the Amended Credit Facility was $1,139.1 million as of December 31, 2015 , which was limited to $640.6 million by the Leverage Ratio in the Amended Credit Facility’s credit agreement. In addition to the Amended Credit Facility, we have various other credit facilities with an aggregate availability of $50.6 million , of which none was outstanding at December 31, 2015 . Borrowings under these credit facilities bear interest at variable rates. Debt outstanding at December 31, 2015 matures on a calendar year basis as follows: In millions 2016 2017 2018 2019 2020 Thereafter Total Contractual debt obligation maturities $ — $ 350.0 $ 500.0 $ 2,159.3 $ 400.0 $ 1,300.0 $ 4,709.3 Capital lease obligations 0.7 — — — — — 0.7 Total maturities $ 0.7 $ 350.0 $ 500.0 $ 2,159.3 $ 400.0 $ 1,300.0 $ 4,710.0 Capital lease obligations relate primarily to land and buildings and consist of total future minimum lease payments of $0.8 million , less the imputed interest of $0.1 million , as of December 31, 2015 . As of December 31, 2015 and 2014 , the recorded values of the assets acquired under capital lease were $14.7 million and $19.5 million , respectively, less accumulated amortization of $2.9 million and $2.4 million , respectively, all of which were included in Property, plant and equipment, net on the Consolidated Balance Sheets.

Derivatives and Financial Instr

Derivatives and Financial Instruments	12 Months Ended
	Dec. 31, 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. To manage the volatility related to this exposure, 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. 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. 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 December 31, 2015 and 2014 , we had outstanding foreign currency derivative contracts with gross notional U.S. dollar equivalent amounts of $331.5 million and $250.8 million , respectively. The impact of these contracts on the Consolidated Statements of Operations and Comprehensive Income (Loss) was 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 Consolidated Statements of Operations and Comprehensive Income (Loss) upon settlement. Such reclassifications during 2015 , 2014 and 2013 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 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 December 31, 2015 , we had deferred foreign currency gains of $16.4 million in AOCI associated with the net investment hedge activity. Fair value of financial instruments The following methods were used to estimate the fair values of each class of financial instrument: • 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 at December 31 were as follows: 2015 2014 In millions Recorded Amount Fair Value Recorded Amount Fair Value Variable rate debt $ 1,360.9 $ 1,360.9 $ 997.4 $ 997.4 Fixed rate debt 3,349.1 3,395.4 2,006.7 2,070.4 Total debt $ 4,710.0 $ 4,756.3 $ 3,004.1 $ 3,067.8 Financial assets and liabilities measured at fair value on a recurring and nonrecurring basis were as follows: Recurring fair value measurements December 31, 2015 In millions Level 1 Level 2 Level 3 Total Foreign currency contract assets $ — $ 0.1 $ — $ 0.1 Foreign currency contract liabilities — (7.6 ) — (7.6 ) Deferred compensation plans assets (1) 43.8 7.0 — 50.8 Total recurring fair value measurements $ 43.8 $ (0.5 ) $ — $ 43.3 Nonrecurring fair value measurements Goodwill (2) $ — $ — $ 996.4 $ 996.4 Trade name intangibles (3) — — 138.1 138.1 Total nonrecurring fair value measurements $ — $ — $ 1,134.5 $ 1,134.5 Recurring fair value measurements December 31, 2014 In millions Level 1 Level 2 Level 3 Total 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 (4) (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 fourth quarter of 2015, we performed a goodwill impairment test for our Valves & Controls reporting unit using the required two-step process as of December 31, 2015. As a result, we recorded a non-cash goodwill impairment charge of $515.2 million . The first step of this process includes comparing the fair value to the carrying value of the reporting unit to which the goodwill is allocated to identify potential impairment. If the fair value of the reporting unit exceeds its carrying value, goodwill allocated to that reporting unit is considered not impaired. If the inverse result is observed, the reporting unit is considered to be impaired and step two of the test to measure the amount of impairment must be completed. The fair value of the reporting unit was determined using a discounted cash flow analysis and market approach. Projecting discounted future cash flows requires us to make significant estimates regarding future revenues and expenses, projected capital expenditures, changes in working capital and the appropriate discount rate. Use of the market approach consists of comparisons to comparable publicly-traded companies that are similar in size and industry. Actual results may differ from those used in our valuations. Step two compares the implied fair value of the goodwill with the carrying value of that goodwill. If the carrying value of the goodwill exceeds its implied fair value, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. That is, the fair value of the reporting unit is allocated to all of its assets and liabilities as if the reporting unit had been acquired in a business combination and its fair value was the purchase price paid to acquire the reporting unit. (3) During the fourth quarter of 2015, we performed an impairment test for our Valves & Controls trade names. As a result, we recorded a pre-tax, non-cash trade name impairment charge of $39.5 million . The fair value of trade names is measured using the relief-from-royalty method. This method assumes the trade name has value to the extent that the owner is relieved of the obligation to pay royalties for the benefits received from them. This method requires us to estimate the future revenue for the related brands, the appropriate royalty rate and the weighted average cost of capital. (4) 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). See Note 3 for additional information about the impairment.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Taxes	Income Taxes Income from continuing operations before income taxes and noncontrolling interest consisted of the following: Years ended December 31 In millions 2015 2014 2013 Federal (1) $ (23.7 ) $ 13.3 $ 328.7 International 97.8 771.0 365.8 Income from continuing operations before income taxes and noncontrolling interest $ 74.1 $ 784.3 $ 694.5 (1) As a result of the Redomicile, "Federal" reflects income from continuing operations before income taxes and noncontrolling interest for the U.K. in 2015 and 2014 and for Switzerland in 2013 . The provision for income taxes consisted of the following: Years ended December 31 In millions 2015 2014 2013 Currently payable Federal (1) $ — $ (0.4 ) $ 17.4 International (2) 136.1 175.7 105.6 Total current taxes 136.1 175.3 123.0 Deferred Federal (1) 0.9 2.2 18.9 International (2) 2.1 (0.2 ) 35.1 Total deferred taxes 3.0 2.0 54.0 Total provision for income taxes $ 139.1 $ 177.3 $ 177.0 (1) As a result of the Redomicile, "Federal" represents U.K. taxes for 2015 and 2014 and Swiss taxes for 2013 . (2) As a result of the Redomicile, "International" represents non-U.K. taxes for 2015 and 2014 and non-Swiss taxes for 2013 . Reconciliations of the federal statutory income tax rate to our effective tax rate were as follows: Years ended December 31 Percentages 2015 2014 2013 Federal statutory income tax rate (1) 20.3 21.0 7.8 Tax effect of international operations (2) (74.5 ) (4.9 ) 10.4 Change in valuation allowances 81.6 3.4 5.7 Withholding taxes 7.3 2.3 1.1 Interest limitations 8.8 0.8 0.5 Non-deductible transaction costs 3.4 — — Non-deductible goodwill impairment 140.8 — — Effective tax rate 187.7 22.6 25.5 (1) The statutory rate for 2015 and 2014 reflects the U.K. statutory rate of 20.25 percent and 21 percent , respectively. For 2013 , the statutory rate reflects the Swiss statutory rate of 7.8 percent . (2) The tax effect of international operations for 2015 and 2014 consists of non-U.K. jurisdictions. For 2013 , the tax effect of international operations consists of non-Swiss jurisdictions. Reconciliations of the beginning and ending gross unrecognized tax benefits were as follows: Years ended December 31 In millions 2015 2014 2013 Beginning balance $ 62.1 $ 60.8 $ 53.4 Gross increases for tax positions in prior periods 5.2 2.3 12.2 Gross decreases for tax positions in prior periods (3.4 ) (0.5 ) (0.6 ) Gross increases based on tax positions related to the current year 6.2 1.8 2.7 Gross decreases related to settlements with taxing authorities (1.9 ) (0.1 ) (5.1 ) Reductions due to statute expiration (1.5 ) (1.2 ) (1.8 ) Gross decreases due to currency fluctuations (3.4 ) (1.0 ) — Gross increases due to acquisitions 6.6 — — Ending balance $ 69.9 $ 62.1 $ 60.8 Included in the $69.9 million of total gross unrecognized tax benefits as of December 31, 2015 was $66.2 million of tax benefits that, if recognized, would impact the effective tax rate. It is reasonably possible that the gross unrecognized tax benefits as of December 31, 2015 may decrease by a range of $0 to $32.6 million during 2016 , primarily as a result of the resolution of non-U.K. examinations, including U.S. federal and state examinations, and the expiration of various statutes of limitations. The determination of annual income tax expense takes into consideration amounts which may be needed to cover exposures for open tax years. The Internal Revenue Service ("IRS") is currently examining the Pentair, Inc. U.S. federal income tax return for the tax year ending September 28, 2012, and the Panthro Acquisition Co. U.S. federal income tax returns for tax years ending December 31, 2012 and December 31, 2013. A number of tax periods from 2002 to present are under audit by tax authorities in various jurisdictions, including Canada, Germany, India and Italy. We anticipate that several of these audits may be concluded in the foreseeable future. We are also subject to the 2012 Tax Sharing Agreement, discussed below, which generally applies to pre-Distribution Tyco tax periods beginning in 1997 which remain subject to audit by the IRS. We record penalties and interest related to unrecognized tax benefits in Provision for income taxes and Interest expense , respectively. As of December 31, 2015 and 2014 , we have liabilities of $2.6 million and $1.2 million , respectively, for the possible payment of penalties and $10.8 million and $9.8 million , respectively, for the possible payment of interest expense, which are recorded in Other current liabilities in the Consolidated Balance Sheets. Deferred taxes in the amount of $11.1 million have been provided on undistributed earnings of certain subsidiaries. Taxes have not been provided on undistributed earnings of subsidiaries where it is our intention to reinvest these earnings permanently or to repatriate the earnings only when it is tax effective to do so. It is not practicable to estimate the amount of tax that might be payable if such earnings were to be remitted. Deferred taxes arise because of different treatment between financial statement accounting and tax accounting, known as "temporary differences." We record the tax effect of these temporary differences as "deferred tax assets" (generally items that can be used as a tax deduction or credit in future periods) and "deferred tax liabilities" (generally items for which we received a tax deduction but the tax impact has not yet been recorded in the Consolidated Statements of Operations and Comprehensive Income (Loss)). Deferred taxes were recorded in the Consolidated Balance Sheets as follows: December 31 In millions 2015 2014 Other current assets $ 96.7 $ 139.4 Other non-current assets 62.8 87.9 Deferred tax liabilities 844.2 528.3 Net deferred tax liabilities $ 684.7 $ 301.0 The tax effects of the major items recorded as deferred tax assets and liabilities were as follows: December 31 In millions 2015 2014 Deferred tax assets Accrued liabilities and reserves $ 168.7 $ 200.3 Pension and other post-retirement benefits 53.2 68.4 Employee compensation & benefits 102.7 100.0 Tax loss and credit carryforwards 392.8 291.9 Total deferred tax assets 717.4 660.6 Valuation allowance 362.5 235.8 Deferred tax assets, net of valuation allowance 354.9 424.8 Deferred tax liabilities Property, plant and equipment 58.1 51.6 Goodwill and other intangibles 942.4 645.6 Other liabilities 39.1 28.6 Total deferred tax liabilities 1,039.6 725.8 Net deferred tax liabilities $ 684.7 $ 301.0 As of December 31, 2015 , tax loss carryforwards of $1,419.6 million were available to offset future income. A valuation allowance of $326.0 million exists for deferred income tax benefits related to the tax loss carryforwards which may not be realized. The increase in tax loss carryforwards and valuation allowance from 2014 to 2015 were primarily related to restructuring costs and impairments. We believe sufficient taxable income will be generated in the respective jurisdictions to allow us to fully recover the remainder of the tax losses. The tax losses relate to Non-U.S. carryforwards of $1,339.6 million which are subject to varying expiration periods. Non-U.S. carryforwards of $1,045.4 million are located in jurisdictions with unlimited tax loss carryforward periods, while the remainder will begin to expire in 2016. In addition, there were no U.S. federal tax loss carryforwards and $80.0 million of state tax loss carryforwards as of December 31, 2015 , which will expire in future years through 2035 . Tax sharing agreement In connection with the Distribution, we entered into a tax sharing agreement (the "2012 Tax Sharing Agreement") with Tyco and The ADT Corporation ("ADT"), which governs the rights and obligations of ADT, Tyco, and us for certain pre-Distribution tax liabilities, including Tyco’s obligations under a separate tax sharing agreement (the "2007 Tax Sharing Agreement") entered into by Tyco, Covidien Ltd. (now known as Medtronic plc, "Medtronic") and TE Connectivity Ltd. ("TE Connectivity") in connection with the 2007 distributions of Medtronic and TE Connectivity by Tyco (the "2007 Separation"). The 2007 Tax Sharing Agreement governs the rights and obligations of Tyco, Medtronic and TE Connectivity with respect to certain pre-2007 Separation tax liabilities and certain tax liabilities arising in connection with the 2007 Separation. More specifically, Tyco, Medtronic and TE Connectivity share 27% , 42% and 31% , respectively, of income tax liabilities that arise from adjustments made by tax authorities to Tyco's, Medtronic's and TE Connectivity's U.S. and certain non-U.S. 2007 and prior income tax returns. In addition, in the event that the 2007 Separation or certain related transactions are determined to be taxable as a result of actions taken after the 2007 Separation by Tyco, Medtronic or TE Connectivity, the party responsible for such failure would be responsible for all taxes imposed on Tyco, Medtronic or TE Connectivity as a result thereof. If none of the companies is responsible for such failure, then Tyco, Medtronic and TE Connectivity would be responsible for such taxes, in the same manner and in the same proportions as other shared tax liabilities under the 2007 Tax Sharing Agreement. Costs and expenses associated with the management of these shared tax liabilities are generally shared equally among the parties. The 2012 Tax Sharing Agreement provides that we, Tyco and ADT will share (i) certain pre-Distribution income tax liabilities that arise from adjustments made by tax authorities to our, Tyco’s and ADT’s U.S. income tax returns, and (ii) payments required to be made by Tyco with respect to the 2007 Tax Sharing Agreement (the liabilities in clauses (i) and (ii) collectively, "Shared Tax Liabilities"). Tyco is responsible for the first $500 million of Shared Tax Liabilities. As of December 31, 2015, Tyco has paid $63.0 million of Shared Tax Liabilities. We and ADT will share 42% and 58% , respectively, of the next $225 million of Shared Tax Liabilities. We, ADT and Tyco will share 20% , 27.5% and 52.5% , respectively, of Shared Tax Liabilities above $725 million . Costs and expenses associated with the management of Shared Tax Liabilities will generally be shared 20% by us, 27.5% by ADT and 52.5% by Tyco. Under these tax sharing agreements, the amount ultimately assessed would have to be in excess of $1.85 billion before we would be required to pay any of the amounts assessed. In the event the Distribution, the spin-off of ADT, or certain internal transactions undertaken in connection therewith were determined to be taxable as a result of actions taken after the Distribution by us, ADT or Tyco, the party responsible for such failure would be responsible for all taxes imposed on us, ADT or Tyco as a result thereof. Taxes resulting from the determination that the Distribution, the spin-off of ADT, or any internal transaction is taxable are referred to herein as "Distribution Taxes." If such failure is not the result of actions taken after the Distribution by us, ADT or Tyco, then we, ADT and Tyco would be responsible for any Distribution Taxes imposed on us, ADT or Tyco as a result of such determination in the same manner and in the same proportions as the Shared Tax Liabilities. ADT will have sole responsibility for any income tax liability arising as a result of Tyco’s acquisition of Brink’s Home Security Holdings, Inc. ("BHS") in May 2010, including any liability of BHS under the tax sharing agreement between BHS and The Brink’s Company dated October 31, 2008 (collectively, the "BHS Tax Liabilities"). Costs and expenses associated with the management of Shared Tax Liabilities, Distribution Taxes and BHS Tax Liabilities will generally be shared 20% by us, 27.5% by ADT and 52.5% by Tyco. We are responsible for all of our own taxes that are not shared pursuant to the 2012 Tax Sharing Agreement’s sharing formulae. In addition, Tyco and ADT are responsible for their tax liabilities that are not subject to the 2012 Tax Sharing Agreement’s sharing formula. The 2012 Tax Sharing Agreement also provides that, if any party were to default in its obligation to another party to pay its share of the distribution taxes that arise as a result of no party’s fault, each non-defaulting party would be required to pay, equally with any other non-defaulting party, the amounts in default. In addition, if another party to the 2012 Tax Sharing Agreement that is responsible for all or a portion of an income tax liability were to default in its payment of such liability to a taxing authority, we could be legally liable under applicable tax law for such liabilities and required to make additional tax payments. Accordingly, under certain circumstances, we may be obligated to pay amounts in excess of our agreed-upon share of our, Tyco’s and ADT’s tax liabilities. Tax authorities, including the Internal Revenue Service ("IRS"), have raised issues and proposed tax adjustments, in particular with respect to tax years preceding the 2007 Separation, in connection with examinations of Tyco’s and its subsidiaries’ income tax returns. The issues and proposed adjustments are generally subject to the sharing provisions of the 2007 Tax Sharing Agreement which may require Tyco to make a payment to a taxing authority, Medtronic or TE Connectivity. In connection with U.S. federal tax audits, the IRS has raised a number of issues and proposed adjustments for periods beginning with the 1997 tax year. Although Tyco has resolve substantially all of the issues and adjustments proposed by the IRS for tax years through 2007, it has not been able to resolve matters related to the treatment of certain intercompany debt transactions during the period. As described below, Tyco has entered into a settlement with the IRS intended to resolve the intercompany debt issues for Tyco’s 1997 - 2000 audit cycle; however, the ultimate resolution of these matters is uncertain and could result in Tyco being responsible for a greater amount than it expects under the 2007 Tax Sharing Agreement. On July 1, 2013, Tyco announced that the IRS issued Notices of Deficiency ("Tyco IRS Notices") to Tyco asserting that several of Tyco's former U.S. subsidiaries collectively owe additional taxes of $883.3 million plus penalties of $154.0 million based on audits of the 1997 through 2000 tax years of Tyco and its subsidiaries as they existed at that time. These amounts exclude interest and do not reflect the impact on subsequent periods if the IRS's position described below is ultimately successful. The IRS asserted in the Tyco IRS Notices that substantially all of Tyco's intercompany debt originated during the 1997 - 2000 period should not be treated as debt for U.S. federal income tax purposes, and has disallowed interest and related deductions recognized on U.S. income tax returns for those periods totaling approximately $2.9 billion . If the IRS is successful in asserting its claim, it would have an adverse impact on interest deductions related to the same Tyco intercompany debt in subsequent time periods, totaling approximately $6.6 billion , which Tyco has advised us that it expects the IRS to disallow. Under the 2012 Tax Sharing Agreement, Tyco has the right to administer, control, and settle all U.S. income tax audits for periods prior to and including the Distribution. Tyco has filed petitions with the U.S. Tax Court contesting the IRS proposed adjustments and a trial date has been set for October 2016. On January 19, 2016, Tyco announced that it had entered into Stipulations of Settled Issues with the IRS intended to resolve all disputes related to the intercompany debt issues for Tyco’s 1997 - 2000 audit cycle currently before the U.S. Tax Court. The Stipulations of Settled Issues are contingent upon the IRS Appeals Division applying the same settlement to all intercompany debt issues on appeal for subsequent audit cycles (2001 - 2007) and, if applicable, review by the U.S. Congress Joint Committee on Taxation. Tyco further disclosed that if finalized, the tentative resolution would cover all aspects of the controversy described above and before the Appeals Division of the IRS, and would result in a total cash payment to the IRS in the range of $475 million to $525 million, which includes all interest and penalties, and that this payment would be subject to the sharing formulas described above in the 2007 and 2012 Tax Sharing Agreements with Pentair not being responsible for any payment related to this amount. However, we cannot provide any assurance that the conditions precedent to this settlement will be met, that the intercompany debt dispute is settled with the IRS or that the IRS will consistently apply the terms of the settlement to all of Tyco's U.S. income tax returns filed subsequent to 2000. If the IRS should successfully assert its position, our share of the collective liability, if any, would be determined pursuant to the 2007 Tax Sharing Agreement and the 2012 Tax Sharing Agreement. Any payment that Tyco is required to make under the 2007 Tax Sharing Agreement, including if the IRS were to prevail with respect to the matter set forth above, could result in a material liability for us under the 2012 Tax Sharing Agreement. To the extent we are responsible for any liability under the 2012 Tax Sharing Agreement, and indirectly the 2007 Tax Sharing Agreement, there could be a material adverse impact on our financial condition, results of operations, cash flows or our effective tax rate in future reporting periods.

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2015
Benefit Plans	Benefit Plans Pension and other post-retirement plans We sponsor U.S. and Non-U.S. defined-benefit pension and other post-retirement plans. Pension benefits are based principally on an employee’s years of service and/or compensation levels near retirement. In addition, we provide certain post-retirement health care and life insurance benefits. Generally, the post-retirement health care and life insurance plans require contributions from retirees. In December 2007, we announced that we will be freezing certain U.S. pension plans as of December 31, 2017. Obligations and funded status The following tables present reconciliations of plan benefit obligations, fair value of plan assets and the funded status of pension plans and other post-retirement plans as of and for the years ended December 31, 2015 and 2014 : U.S. pension plans Non-U.S. pension plans Other post-retirement plans In millions 2015 2014 2015 2014 2015 2014 Change in benefit obligations Benefit obligation beginning of year $ 416.2 $ 346.9 $ 505.2 $ 462.0 $ 41.5 $ 42.4 Service cost 14.0 13.1 9.6 7.4 0.2 0.2 Interest cost 14.9 15.4 14.2 17.3 1.5 1.7 Actuarial loss (gain) (39.1 ) 50.1 (9.5 ) 73.0 (0.9 ) 0.3 Foreign currency translation — — (31.6 ) (36.6 ) — — Benefits paid (9.1 ) (9.3 ) (17.9 ) (17.9 ) (3.5 ) (3.1 ) Benefit obligation end of year $ 396.9 $ 416.2 $ 470.0 $ 505.2 $ 38.8 $ 41.5 Change in plan assets Fair value of plan assets beginning of year $ 343.9 $ 285.8 $ 309.7 $ 286.5 $ — $ — Actual return on plan assets (11.1 ) 63.7 4.2 35.2 — — Company contributions 4.0 3.7 17.2 20.9 3.5 3.1 Foreign currency translation — — (11.5 ) (15.0 ) — — Benefits paid (9.1 ) (9.3 ) (17.9 ) (17.9 ) (3.5 ) (3.1 ) Fair value of plan assets end of year $ 327.7 $ 343.9 $ 301.7 $ 309.7 $ — $ — Funded status Benefit obligations in excess of the fair value of plan assets $ (69.2 ) $ (72.3 ) $ (168.3 ) $ (195.5 ) $ (38.8 ) $ (41.5 ) Amounts recorded in the Consolidated Balance Sheets were as follows: U.S. pension plans Non-U.S. pension plans Other post-retirement plans In millions 2015 2014 2015 2014 2015 2014 Other non-current assets $ 0.5 $ 2.7 $ 6.1 $ 6.5 $ — $ — Current liabilities (4.1 ) (4.0 ) (4.0 ) (4.7 ) (3.3 ) (3.4 ) Non-current liabilities (65.6 ) (71.0 ) (170.4 ) (197.3 ) (35.5 ) (38.1 ) Benefit obligations in excess of the fair value of plan assets $ (69.2 ) $ (72.3 ) $ (168.3 ) $ (195.5 ) $ (38.8 ) $ (41.5 ) The accumulated benefit obligation for all defined benefit plans was $840.0 million and $887.5 million at December 31, 2015 and 2014 , respectively. Information for pension plans with an accumulated benefit obligation or projected benefit obligation in excess of plan assets as of December 31 was as follows: Projected benefit obligation exceeds the fair value of plan assets Accumulated benefit obligation exceeds the fair value of plan assets In millions 2015 2014 2015 2014 U.S. pension plans Projected benefit obligation $ 86.4 $ 92.5 $ 86.4 $ 92.5 Fair value of plan assets 16.6 17.5 16.6 17.5 Accumulated benefit obligation N/A N/A 82.4 85.1 Non-U.S. pension plans Projected benefit obligation $ 430.4 $ 460.0 $ 422.7 $ 453.2 Fair value of plan assets 256.0 258.1 248.8 252.3 Accumulated benefit obligation NA N/A 409.8 440.9 Components of net periodic benefit expense (income) for our pension plans for the years ended December 31 were as follows: U. S. pension plans Non-U.S. pension plans In millions 2015 2014 2013 2015 2014 2013 Service cost $ 14.0 $ 13.1 $ 15.6 $ 9.6 $ 7.4 $ 8.4 Interest cost 14.9 15.4 14.3 14.2 17.3 17.9 Expected return on plan assets (10.0 ) (10.5 ) (9.7 ) (15.6 ) (15.9 ) (15.2 ) Amortization of prior year service cost (benefit) — — 0.4 — — (0.2 ) Net actuarial (gain) loss (18.0 ) (3.1 ) (18.3 ) (0.8 ) 50.3 (30.0 ) Net periodic benefit expense (income) $ 0.9 $ 14.9 $ 2.3 $ 7.4 $ 59.1 $ (19.1 ) Components of net periodic benefit expense (income) for our other post-retirement plans for the years ended December 31 were as follows: Other post-retirement plans In millions 2015 2014 2013 Service cost $ 0.2 $ 0.2 $ 0.3 Interest cost 1.5 1.7 1.9 Amortization of prior year service benefit — — (0.8 ) Net actuarial (gain) loss (0.9 ) 0.3 (15.9 ) Net periodic benefit expense (income) $ 0.8 $ 2.2 $ (14.5 ) Assumptions Weighted-average assumptions used to determine benefit obligations as of December 31 were as follows: U.S. pension plans Non-U.S. pension plans Other post-retirement plans Percentages 2015 2014 2013 2015 2014 2013 2015 2014 2013 Discount rate 4.21 % 3.63 % 4.51 % 3.20 % 3.04 % 4.13 % 3.95 % 3.60 % 4.35 % Rate of compensation increase 4.00 % 4.00 % 4.00 % 2.87 % 2.95 % 3.02 % — — — Weighted-average assumptions used to determine net periodic benefit expense (income) for years ended December 31 were as follows: U.S. pension plans Non-U.S. pension plans Other post-retirement plans Percentages 2015 2014 2013 2015 2014 2013 2015 2014 2013 Discount rate 3.63 % 4.51 % 3.67 % 3.04 % 4.13 % 3.85 % 3.60 % 4.35 % 3.40 % Expected long-term return on plan assets 3.65 % 4.56 % 3.75 % 5.32 % 5.95 % 5.98 % — — — Rate of compensation increase 4.00 % 4.00 % 4.37 % 2.95 % 3.02 % 3.02 % — — — Uncertainty in the securities markets and U.S. economy could result in investment returns less than those assumed. Should the securities markets decline or medical and prescription drug costs increase at a rate greater than assumed, we would expect increasing annual combined net pension and other post-retirement costs for the next several years. Should actual experience differ from actuarial assumptions, the projected pension benefit obligation and net pension cost and accumulated other post-retirement benefit obligation and other post-retirement benefit cost would be affected in future years. Discount rates The discount rate reflects the current rate at which the pension liabilities could be effectively settled at the end of the year based on our December 31 measurement date. The discount rate was determined by matching our expected benefit payments to payments from a stream of bonds rated AA or higher available in the marketplace, adjusted to eliminate the effects of call provisions. This produced a weighted-average discount rate for our U.S. pension plans of 4.21% , 3.63% and 4.51% in 2015 , 2014 and 2013 , respectively. The discount rates on our non-U.S. pension plans ranged from 0.50% to 4.25% , 0.50% to 4.25% and 0.50% to 5.00% in 2015 , 2014 and 2013 , respectively. There are no known or anticipated changes in our discount rate assumptions that will impact our pension expense in 2016 . Expected rates of return Our expected rates of return on U.S. pension plan assets were 3.65% , 4.56% and 3.75% for 2015 , 2014 and 2013 , respectively. The expected rates of return on non-U.S. pension plan assets ranged from 1.00% to 6.00% , 1.00% to 6.40% and 1.00% to 6.50% in 2015 , 2014 and 2013 , respectively. The expected rate of return is designed to be a long-term assumption that may be subject to considerable year-to-year variance from actual returns. In developing the expected long-term rate of return, we considered our historical returns, with consideration given to forecasted economic conditions, our asset allocations, input from external consultants and broader longer-term market indices. U.S. pension plan assets yielded returns of (3.20)% , 22.30% and (9.90)% in 2015 , 2014 and 2013 , respectively. As a result of our de-risking strategy to reduce U.S. pension plan liability, we anticipate the expected rate of return on our U.S. funded pension plans will continue to be consistent with the discount rate utilized. Any difference in the expected rate and actual returns will be included with the actuarial gain or loss recorded in the fourth quarter when our plans are remeasured. Healthcare cost trend rates The assumed healthcare cost trend rates for other post-retirement plans as of December 31 were as follows: 2015 2014 Healthcare cost trend rate assumed for following year 7.4 % 6.8 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 4.4 % 4.5 % Year the cost trend rate reaches the ultimate trend rate 2038 2027 The assumed healthcare cost trend rates can have a significant effect on the amounts reported for healthcare plans. A one-percentage-point change in the assumed healthcare cost trend rates would have the following effects as of and for the year ended December 31, 2015 : One Percentage Point In millions Increase Decrease Increase (decrease) in annual service and interest cost $ 0.1 $ (0.1 ) Increase (decrease) in other post-retirement benefit obligations 0.9 (0.8 ) Pension plans assets Objective The primary objective of our investment strategy is to meet the pension obligation to our employees at a reasonable cost to us. This is primarily accomplished through growth of capital and safety of the funds invested. During 2012, we adopted an investment strategy for our U.S. pension plans with a primary objective of preserving the funded status of the U.S. plans. This was achieved through investments in fixed interest instruments with interest rate sensitivity characteristics closely reflecting the interest rate sensitivity of our benefit obligations. Shifting of allocations away from equities to liability hedging fixed income investments, by reinvesting in fixed income instruments as equity investments were redeemed, was completed during 2013. As of December 31, 2015 , the U.S. pension plans have an approximately 98 percent allocation to fixed income investments. Asset allocation Our actual overall asset allocation for our U.S. and non-U.S. pension plans as compared to our investment policy goals as of December 31 was as follows: U.S. pension plans Actual Target Percentages 2015 2014 2015 2014 Fixed income 98 % 97 % 100 % 100 % Alternative 2 % 3 % — — Non-U.S. pension plans Actual Target Percentages 2015 2014 2015 2014 Equity securities 40 % 40 % 46 % 45 % Fixed income 51 % 53 % 54 % 55 % Alternative 7 % 5 % — — Cash 2 % 2 % — — While the target allocations do not have a percentage allocated to cash, the plan assets will always include some cash due to cash flow requirements. Fair value measurement The fair values of our pension plan assets and their respective levels in the fair value hierarchy as of December 31, 2015 and December 31, 2014 were as follows: December 31, 2015 In millions Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 2.9 $ 3.4 $ — $ 6.3 Fixed income: Corporate and non U.S. government — 381.5 — 381.5 U.S. treasuries — 52.0 — 52.0 Mortgage-backed securities — 5.8 — 5.8 Other — 37.2 — 37.2 Global equity securities: Mid cap equity — 3.4 — 3.4 Large cap equity — 43.2 — 43.2 International equity — 74.4 — 74.4 Other investments — 21.5 4.1 25.6 Total fair value of plan assets $ 2.9 $ 622.4 $ 4.1 $ 629.4 December 31, 2014 In millions Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 3.1 $ 4.5 $ — $ 7.6 Fixed income: Corporate and non U.S. government — 373.6 — 373.6 U.S. treasuries — 70.7 — 70.7 Mortgage-backed securities — 8.3 — 8.3 Other — 45.5 — 45.5 Global equity securities: Mid cap equity — 3.1 — 3.1 Large cap equity — 43.7 — 43.7 International equity — 77.0 — 77.0 Other investments — 17.4 6.7 24.1 Total fair value of plan assets $ 3.1 $ 643.8 $ 6.7 $ 653.6 Valuation methodologies used for investments measured at fair value were as follows: • Cash and cash equivalents: Cash consists of cash held in bank accounts and was classified as Level 1. Cash equivalents consist of investments in commingled funds valued based on observable market data. Such investments were classified as Level 2. • Fixed income: Investments in corporate bonds, government securities, mortgages and asset backed securities were valued based upon quoted market prices for similar securities and other observable market data. Investments in commingled funds were generally valued at the net asset value of units held at the end of the period based upon the value of the underlying investments as determined by quoted market prices or by a pricing service. Such investments were classified as Level 2. • Global equity securities: Investments in commingled funds were valued at the net asset value of units held at the end of the period based upon the value of the underlying investments as determined by quoted market prices or by a pricing service. Such investments were classified as Level 2. • Other investments: Other investments include investments in commingled funds with diversified investment strategies. Investments in commingled funds that were valued at the net asset value of units held at the end of the period based upon the value of the underlying investments as determined by quoted market prices or by a pricing service were classified as Level 2. Investments in commingled funds that were valued based on unobservable inputs due to liquidation restrictions were classified as Level 3. The following tables present a reconciliation of Level 3 assets held during the years ended December 31, 2015 and 2014 , respectively: In millions January 1, 2015 Net realized and unrealized gains (losses) Net issuances and settlements Net transfers into (out of) level 3 December 31, 2015 Other investments $ 6.7 $ (0.3 ) $ (2.3 ) $ — $ 4.1 In millions January 1, 2014 Net realized and unrealized gains (losses) Net issuances and settlements Net transfers into (out of) level 3 December 31, 2014 Other investments $ 19.0 $ 0.7 $ (11.8 ) $ (1.2 ) $ 6.7 Cash flows Contributions Pension contributions totaled $21.2 million and $24.6 million in 2015 and 2014 , respectively. Our 2016 pension contributions are expected to be approximately $32.0 million to $40.0 million . The 2016 expected contributions will equal or exceed our minimum funding requirements. Estimated future benefit payments The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plans for the years ended December 31 as follows: In millions U.S. pension plans Non-U.S. pension plans Other post- retirement plans 2016 $ 12.6 $ 14.4 $ 3.3 2017 13.4 15.8 3.2 2018 16.0 16.8 3.2 2019 18.5 18.3 3.1 2020 19.4 19.7 3.0 Thereafter 112.0 103.2 13.4 Savings plan We have a 401(k) plan (the "401(k) plan") with an employee share ownership ("ESOP") bonus component, which covers certain union and all non-union U.S. employees who meet certain age requirements. Under the 401(k) plan, eligible U.S. employees may voluntarily contribute a percentage of their eligible compensation. We match contributions made by employees who meet certain eligibility and service requirements. Our matching contribution is 100% of eligible employee contributions for the first 1% of eligible compensation and 50% of the next 5% of eligible compensation. In addition to the matching contribution, all employees who meet certain service requirements receive a discretionary ESOP contribution equal to 1.5% of annual eligible compensation. Additionally, we had a 401(k) plan acquired as part of the Merger (the "Flow 401(k) plan") which covered certain union and all non-union U.S. employees who met certain age requirements. On December 31, 2013, the Flow 401(k) plan merged into the 401(k) plan and all employees covered by the Flow 401(k) plan became fully vested in their Flow 401(k) plan employer matching contributions and all future employer matching contributions were made under the 401(k) plan matching contribution formula. Under the Flow 401(k) plan, eligible U.S. employees could voluntarily contribute a percentage of their eligible compensation. We matched contributions made by employees who met certain eligibility and service requirements. Our matching contribution was 500% of eligible employee contributions for the first 1% of eligible compensation. Additional company match was based on years of service, as follows: an additional 1% match at 10 – 19 years of service, an additional 2% match at 20 – 24 years , an additional 3% match at 25 – 29 years and an additional 4% match at 30 + years. Participants were 100% vested in the employer match after 3 years of service. Our combined expense for the 401(k) plan, the Flow 401(k) plan and the ESOP was $26.5 million , $21.5 million and $26.8 million in 2015 , 2014 and 2013 , respectively. Other retirement compensation Total other accrued retirement compensation, primarily related to deferred compensation and supplemental retirement plans, was $65.8 million and $70.2 million as of December 31, 2015 and 2014 , respectively, and is included in Pension and other post-retirement compensation and benefits and Other non-current liabilities in the Consolidated Balance Sheets. Multi-employer defined benefit plans We participate in a number of multi-employer defined benefit plans on behalf of certain employees. Pension expense related to multi-employer plans was not material in 2015 , 2014 and 2013 .

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2015
Shareholders' Equity	Shareholders’ Equity Authorized shares Our authorized share capital consists of 426.0 million ordinary shares with a par value of $0.01 per share. 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 . Share repurchases Prior to the closing of the Merger, our Board of Directors, and Tyco as our sole shareholder, authorized the repurchase of our ordinary shares with a maximum aggregate value of $400.0 million following the closing of the Merger. This authorization did not have an expiration date. On October 1, 2012, our Board of Directors authorized the repurchase of our ordinary shares with a maximum aggregate value of $800.0 million . This authorization expired on December 31, 2015 and was in addition to the $400.0 million share repurchase authorization. There is no remaining availability under the 2012 authorizations. In December 2013, the Board of Directors authorized the repurchase of our ordinary shares up to a maximum dollar limit of $1.0 billion . This authorization is in addition to the combined $1.2 billion 2012 share repurchase authorizations. The authorization expires on December 31, 2016 . There is no remaining availability under the 2013 authorization. In December 2014, the Board of Directors authorized the repurchase of our ordinary shares up to a maximum dollar limit of $1.0 billion . This authorization is in addition to the 2012 and 2013 share repurchase authorizations. The authorization expires on December 31, 2019 . During the year ended December 31, 2015 , we repurchased 3.1 million of our ordinary shares for $200.0 million under the 2014 authorization and had $800.0 million remaining availability for repurchases under the 2014 authorization. Dividends payable On December 8, 2015, the Board of Directors declared a quarterly cash dividend of $0.33 that was paid on February 12, 2016 to shareholders of record at the close of business on January 29, 2016. Additionally, the Board of Directors approved a plan to increase the 2016 annual cash dividend to $1.34 , which is intended to be paid in four quarterly installments of $0.33 in each of the first and second quarters of 2016 and $0.34 in each of the third and fourth quarters of 2016. As a result, the balance of dividends payable included in Other current liabilities on our Consolidated Balance Sheets was $59.6 million at December 31, 2015 . Dividends paid per ordinary share were $1.28 , $1.10 and $0.96 for the years ended December 31, 2015 , 2014 and 2013 , respectively.

Share Plans

Share Plans	12 Months Ended
	Dec. 31, 2015
Share Plans	Share Plans Share-based compensation expense Total share-based compensation expense for 2015 , 2014 and 2013 was as follows: December 31 In millions 2015 2014 2013 Restricted stock units $ 21.6 $ 22.6 $ 20.2 Stock options 11.4 11.0 10.9 Total share-based compensation expense $ 33.0 $ 33.6 $ 31.1 Share incentive plans Prior to the Merger, our Board of Directors approved, and Tyco as our sole shareholder approved, the Pentair plc 2012 Stock and Incentive Plan (the "2012 Plan"). The 2012 Plan became effective on September 28, 2012 and authorizes the issuance of 9.0 million of our ordinary shares. The shares may be issued as new shares or from shares held in treasury. Prior to the cancellation of our shares held in treasury in August 2015, our practice was to settle equity-based awards from shares held in treasury. Subsequent to the cancellation, our practice is to settle equity-based awards by issuing new shares. The 2012 Plan terminates in September 2022. The 2012 Plan allows for the granting to our officers, directors, employees and consultants of non-qualified stock options, incentive stock options, stock appreciation rights, performance shares, performance units, restricted shares, restricted stock units, deferred stock rights, annual incentive awards, dividend equivalent units and other equity-based awards. The 2012 Plan is administered by our compensation committee (the "Committee"), which is made up of independent members of our Board of Directors. Employees eligible to receive awards under the 2012 Plan are managerial, administrative or other key employees who are in a position to make a material contribution to the continued profitable growth and long-term success of our company. The Committee has the authority to select the recipients of awards, determine the type and size of awards, establish certain terms and conditions of award grants and take certain other actions as permitted under the 2012 Plan. The 2012 Plan prohibits the Committee from re-pricing awards or cancelling and reissuing awards at lower prices. The 2008 Omnibus Stock Incentive Plan as Amended and Restated (the "2008 Plan") terminated upon the completion of the Merger. Prior grants of restricted stock units and stock options made under the 2008 Plan and earlier stock incentive plans outstanding at completion of the Merger were converted into equity-based awards with respect to our ordinary shares and were assumed by us on the terms in effect at the time of grant and are outstanding under the 2012 Plan. Non-qualified and incentive stock options Under the 2012 Plan, we may grant stock options to any eligible employee with an exercise price equal to the market value of the shares on the dates the options were granted. Options generally vest over a three -year period commencing on the grant date and expire 10 years after the grant date. Restricted shares and restricted stock units Under the 2012 Plan, eligible employees may be awarded restricted shares or restricted stock units of our common stock. Restricted shares and restricted stock units generally vest three to four years after issuance, subject to continuous employment and certain other conditions. Restricted shares and restricted stock units are valued at market value on the date of grant and are expensed over the vesting period. Stock appreciation rights, performance shares and performance units Under the 2012 Plan, the Committee is permitted to issue these awards which are generally earned over a three -year vesting period and tied to specific financial metrics. Stock options The following table summarizes stock option activity under all plans for the year ended December 31, 2015 : Shares and intrinsic value in millions Number of shares Weighted- average exercise price Weighted- average remaining contractual life (years) Aggregate intrinsic value Outstanding as of January 1, 2015 5.7 $ 39.08 Granted 0.7 65.30 Exercised (0.7 ) 35.27 Forfeited (0.1 ) 64.52 Outstanding as of December 31, 2015 5.6 $ 42.55 4.8 $ 61.7 Options exercisable as of December 31, 2015 4.4 $ 35.93 3.9 $ 61.7 Options expected to vest as of December 31, 2015 1.2 $ 65.24 8.1 $ — Fair value of options granted The weighted average grant date fair value of options granted under Pentair plans in 2015 , 2014 and 2013 was estimated to be $16.40 , $23.23 and $13.96 per share, respectively. The total intrinsic value of options that were exercised during 2015 , 2014 and 2013 was $20.8 million , $34.8 million and $68.9 million , respectively. At December 31, 2015 , the total unrecognized compensation cost related to stock options was $16.4 million . This cost is expected to be recognized over a weighted average period of 1.6 years . We estimated the fair value of each stock option award on the date of grant using a Black-Scholes option pricing model, modified for dividends and using the following weighted average assumptions: December 31 2015 2014 2013 Risk-free interest rate 1.60 % 1.44 % 0.69 % Expected dividend yield 1.97 % 1.46 % 2.01 % Expected share price volatility 30.4 % 35.3 % 36.0 % Expected term (years) 6.0 5.6 5.7 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 volatility, we considered a rolling average of historical volatility measured over a period approximately equal to the expected option term. The risk-free 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. Cash received from option exercises for the years ended December 31, 2015 , 2014 and 2013 was $28.7 million , $46.6 million and $102.3 million , respectively. The actual tax benefit realized for the tax deductions from option exercises totaled $4.8 million , $8.3 million and $23.5 million for the years ended December 31, 2015 , 2014 and 2013 , respectively. Restricted stock units The following table summarizes restricted stock unit activity under all plans for the year ended December 31, 2015 : Shares in millions Number of shares Weighted average grant date fair value Outstanding as of January 1, 2015 1.1 $ 50.55 Granted 0.3 63.45 Vested (0.5 ) 48.25 Forfeited (0.1 ) 54.89 Outstanding as of December 31, 2015 0.8 $ 55.64 As of December 31, 2015 , there was $32.0 million of unrecognized compensation cost related to restricted share compensation arrangements granted under the 2012 Plan and previous plans. That cost is expected to be recognized over a weighted-average period of 1.7 years. The total fair value of shares vested during the years ended December 31, 2015 , 2014 and 2013 , was $26.0 million , $26.3 million and $23.4 million , respectively. The actual tax benefits realized related to restricted share compensation arrangements totaled $2.4 million , $3.1 million and $7.2 million for the years ended December 31, 2015 , 2014 and 2013 , respectively.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2015
Segment Information	Segment Information We classify our operations into the following business segments based primarily on types of products offered and markets served: • Valves & Controls — The Valves & Controls segment designs, manufactures, markets and services valves, fittings, automation and controls and actuators for the energy and industrial verticals. • Flow & Filtration Solutions - The Flow & Filtration Solutions segment designs, manufactures, markets and services solutions for the toughest filtration, separation, flow and fluid management challenges in agriculture, food and beverage processing, water supply and disposal and a variety of industrial applications. • Water Quality Systems - The Water Quality Systems segment designs, manufactures, markets and services innovative water system products and solutions to meet filtration and fluid management challenges in food and beverage, water, swimming pools and aquaculture applications. • Technical Solutions — The Technical Solutions segment designs, manufactures, markets and services products that guard and protect some of the world’s most sensitive electrical and electronic equipment, as well as heat management solutions designed to provide thermal protection to temperature sensitive fluid applications and engineered electrical and fastening products for electrical, mechanical and civil applications. • Other — Other is primarily composed of unallocated corporate expenses, our captive insurance subsidiary and intermediate finance companies. The accounting policies of our reporting segments are the same as those described in the summary of significant accounting policies. We evaluate performance based on the net sales and segment income (loss) and use a variety of ratios to measure performance of our reporting segments. These results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented. During the third quarter of 2015, we revised our definition of segment income to exclude intangible amortization to better reflect how management assesses performance of the business. 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 included in the following summary: 2015 2014 2013 2015 2014 2013 In millions Net sales Segment income (loss) Valves & Controls $ 1,840.1 $ 2,377.3 $ 2,451.7 $ 223.0 $ 398.5 $ 349.3 Flow & Filtration Solutions 1,441.6 1,603.1 1,651.8 185.1 199.5 202.4 Water Quality Systems 1,381.5 1,356.4 1,269.3 281.8 253.3 227.9 Technical Solutions 1,809.3 1,728.1 1,663.4 395.0 378.1 342.0 Other (23.5 ) (25.9 ) (36.5 ) (83.7 ) (93.7 ) (108.4 ) Consolidated $ 6,449.0 $ 7,039.0 $ 6,999.7 $ 1,001.2 $ 1,135.7 $ 1,013.2 2015 2014 2013 2015 2014 2013 In millions Identifiable assets (1) Depreciation Valves & Controls $ 3,243.3 $ 4,045.2 $ 4,198.2 $ 58.3 $ 59.0 $ 64.0 Flow & Filtration Solutions 1,822.8 2,040.0 2,311.7 23.6 23.7 23.4 Water Quality Systems 1,801.7 1,828.3 1,851.1 21.7 21.9 20.3 Technical Solutions 4,488.4 2,117.3 2,093.4 27.6 24.2 23.6 Other 500.8 624.4 1,288.9 8.3 9.9 10.0 Consolidated $ 11,857.0 $ 10,655.2 $ 11,743.3 $ 139.5 $ 138.7 $ 141.3 2015 2014 2013 In millions Capital expenditures Valves & Controls $ 43.0 $ 45.9 $ 67.2 Flow & Filtration Solutions 20.4 24.9 32.2 Water Quality Systems 21.1 20.6 31.5 Technical Solutions 47.4 24.0 16.2 Other 2.4 14.2 22.9 Consolidated $ 134.3 $ 129.6 $ 170.0 (1) All cash and cash equivalents and assets held for sale are included in "Other." The following table presents a reconciliation of consolidated segment income to consolidated operating income: In millions 2015 2014 2013 Segment income $ 1,001.2 $ 1,135.7 $ 1,013.2 Deal related costs and expenses (14.3 ) — — Inventory step-up and customer backlog (35.7 ) — (86.6 ) Restructuring and other (120.9 ) (109.6 ) (119.9 ) Intangible amortization, excluding customer backlog (121.4 ) (114.0 ) (110.9 ) Pension and other post-retirement mark-to-market gain (loss) 23.0 (49.9 ) 63.2 Goodwill and trade name impairment (554.7 ) — (11.0 ) Redomicile related expenses — (10.3 ) (5.4 ) Operating income $ 177.2 $ 851.9 $ 742.6 The following tables present certain geographic information by region: 2015 2014 2013 2015 2014 2013 In millions Net sales Long-lived assets U.S. $ 3,091.0 $ 3,103.6 $ 2,981.7 $ 381.4 $ 350.0 $ 365.4 Western Europe 1,141.5 1,355.5 1,373.8 324.5 340.0 393.9 Developing (1) 1,425.6 1,662.0 1,733.8 158.6 180.9 193.3 Other Developed (2) 790.9 917.9 910.4 78.3 79.1 91.7 Consolidated $ 6,449.0 $ 7,039.0 $ 6,999.7 $ 942.8 $ 950.0 $ 1,044.3 (1) - Developing includes China, Eastern Europe, Latin America, the Middle East and Southeast Asia. (2) - Other Developed includes Australia, Canada and Japan. Net sales are based on the geographic destination of the sale. Long-lived assets represent property, plant and equipment, net of related depreciation. Net sales shipped to and long-lived assets held in Ireland for each year presented above were not material. We offer a broad array of products and systems to multiple markets and customers for which we do not have the information systems to track revenues by primary product category. However, our net sales by segment are representative of our sales by major product category. We sell our products through various distribution channels including wholesale and retail distributors, original equipment manufacturers and home centers. No customer accounted for more than 10% of net sales in 2015 , 2014 , or 2013 .

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies	Commitments and Contingencies Operating lease commitments Net rental expense under operating leases was as follows: Years ended December 31 In millions 2015 2014 2013 Gross rental expense $ 54.8 $ 68.7 $ 76.0 Sublease rental income (0.9 ) (1.3 ) (0.9 ) Net rental expense $ 53.9 $ 67.4 $ 75.1 Future minimum lease commitments under non-cancelable operating leases, principally related to facilities, machinery, equipment and vehicles as of December 31, 2015 were as follows: In millions 2016 2017 2018 2019 2020 Thereafter Total Minimum lease payments $ 45.1 $ 33.4 $ 25.3 $ 20.2 $ 15.1 $ 23.3 $ 162.4 Minimum sublease rentals (0.8 ) (0.8 ) (0.5 ) (0.4 ) (0.2 ) — (2.7 ) Net future minimum lease commitments $ 44.3 $ 32.6 $ 24.8 $ 19.8 $ 14.9 $ 23.3 $ 159.7 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 December 31, 2015 , there were approximately 4,100 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 $237.9 million and $249.1 million as of December 31, 2015 and 2014 , respectively, and was recorded in Other non-current liabilities in the Consolidated Balance Sheets for pending and future claims and related defense costs. Our estimated receivable for insurance recoveries was $111.0 million and $115.8 million , respectively, at December 31, 2015 and 2014 and was recorded in Other non-current assets in the 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 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. We are responsible, or alleged to be responsible, for ongoing environmental investigation and/or remediation of sites in several countries. These sites are in various stages of investigation and/or remediation and at some of these sites our liability is considered de minimis. We received notification from the U.S. Environmental Protection Agency and from similar state and non-U.S. environmental agencies, that several sites formerly or currently owned and/or operated by us, and other properties or water supplies that may be or may have been impacted from those operations, contain disposed or recycled materials or waste and require environmental investigation and/or remediation. Those sites include instances where we have been identified as a potentially responsible party under U.S. federal, state and/or non-U.S. environmental laws and regulations. For several formerly owned businesses, we have also received claims for indemnification from purchasers of these 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. It can be difficult to estimate reliably the final costs of investigation and remediation due to various factors. In our opinion, the amounts accrued are appropriate based on facts and circumstances as currently known. Based upon our experience, current information regarding known contingencies and applicable laws, we have recorded reserves for these environmental matters of $22.8 million and $31.4 million as of December 31, 2015 and 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. However, unknown conditions, new details about existing conditions or changes in environmental requirements may give rise to environmental liabilities that will exceed the amount of our current reserves and could have a material adverse effect in the future. Other matters In addition to the matters described above, from time to time, we are subject to disputes, administrative proceedings and other claims arising out of the normal conduct of our business. These matters generally relate to disputes arising out of the use or installation of our products, product liability litigation, personal injury claims, commercial and contract disputes and employment related matters. On the basis of information currently available to it, management does not believe that existing proceedings and claims will have a material impact on our Consolidated Financial Statements. However, litigation is unpredictable, and we could incur judgments or enter into settlements for current or future claims that could adversely affect our financial statements. 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 years ended December 31, 2015 and 2014 were as follows: Years ended December 31 In millions 2015 2014 Beginning balance $ 66.4 $ 56.0 Service and product warranty provision 61.7 75.3 Payments (66.3 ) (62.1 ) Foreign currency translation (2.0 ) (2.8 ) Ending balance $ 59.8 $ 66.4 Stand-by letters of credit, bank guarantees and bonds In certain situations, Tyco guaranteed Flow Control’s performance to third parties or provided financial guarantees for financial commitments of Flow Control. In situations where Flow Control and Tyco were unable to obtain a release from these guarantees in connection with the spin-off of Flow Control from Tyco, 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 December 31, 2015 and 2014 , the outstanding value of bonds, letters of credit and bank guarantees totaled $402.2 million and $370.1 million , respectively.

Selected Quarterly Data

Selected Quarterly Data	12 Months Ended
	Dec. 31, 2015
Selected Quarterly Data	Selected Quarterly Data (Unaudited) The following tables present 2015 and 2014 quarterly financial information: 2015 In millions, except per-share data First Quarter Second Quarter Third Quarter Fourth Quarter Full Year Net sales $ 1,475.0 $ 1,661.2 $ 1,552.1 $ 1,760.7 $ 6,449.0 Gross profit 510.2 566.2 540.1 569.3 2,185.8 Operating income (loss) 171.2 217.9 180.0 (391.9 ) 177.2 Net income (loss) from continuing operations 118.2 153.9 115.2 (452.3 ) (65.0 ) Income (loss) from discontinued operations, net of tax (4.3 ) (1.3 ) — 0.9 (4.7 ) Loss from sale / impairment of discontinued operations, net of tax — (4.8 ) — (1.9 ) (6.7 ) Net income (loss) 113.9 147.8 115.2 (453.3 ) (76.4 ) Earnings (loss) per ordinary share (1) Basic Continuing operations $ 0.66 $ 0.85 $ 0.64 $ (2.51 ) $ (0.36 ) Discontinued operations (0.03 ) (0.03 ) — (0.01 ) (0.06 ) Basic earnings (loss) per ordinary share $ 0.63 $ 0.82 $ 0.64 $ (2.52 ) $ (0.42 ) Diluted Continuing operations $ 0.65 $ 0.84 $ 0.63 $ (2.51 ) $ (0.36 ) Discontinued operations (0.03 ) (0.03 ) — (0.01 ) (0.06 ) Diluted earnings (loss) per ordinary share $ 0.62 $ 0.81 $ 0.63 $ (2.52 ) $ (0.42 ) 2014 In millions, except per-share data First Quarter Second Quarter Third Quarter Fourth Quarter Full Year Net sales $ 1,644.0 $ 1,834.1 $ 1,758.4 $ 1,802.5 $ 7,039.0 Gross profit 564.1 646.3 624.7 627.9 2,463.0 Operating income 182.1 226.4 267.4 176.0 851.9 Net income from continuing operations 125.5 159.2 192.5 129.8 607.0 Income (loss) from discontinued operations, net of tax (1.3 ) 2.3 1.6 (9.0 ) (6.4 ) Loss from sale / impairment of discontinued operations, net of tax (5.6 ) — (380.1 ) — (385.7 ) Net income (loss) 118.6 161.5 (186.0 ) 120.8 214.9 Earnings (loss) per ordinary share (1) Basic Continuing operations $ 0.64 $ 0.82 $ 1.01 $ 0.71 $ 3.19 Discontinued operations (0.04 ) 0.02 (1.99 ) (0.05 ) (2.06 ) Basic earnings (loss) per ordinary share $ 0.60 $ 0.84 $ (0.98 ) $ 0.66 $ 1.13 Diluted Continuing operations $ 0.63 $ 0.81 $ 1.00 $ 0.70 $ 3.14 Discontinued operations (0.04 ) 0.01 (1.95 ) (0.05 ) (2.03 ) Diluted earnings (loss) per ordinary share $ 0.59 $ 0.82 $ (0.95 ) $ 0.65 $ 1.11 (1) Amounts may not total to annual earnings because each quarter and year are calculated separately based on basic and diluted weighted-average ordinary shares outstanding during that period. Fourth quarter 2015 includes decreases in operating income due to goodwill and trade name impairment charges in Valves & Controls of $554.7 million , restructuring and other costs of $70.1 million and an inventory fair value step-up related to the ERICO Acquisition of $32.8 million. Fourth quarter 2015 also includes an increase in operating income of $23.0 million related to "mark-to-market" actuarial gains on pension and other post-retirement benefit plans for 2015. Fourth quarter 2014 includes a decrease in operating income of $49.9 million related to "mark-to-market" actuarial losses on pension and other post-retirement benefit plans for 2014. Fourth quarter 2013 also includes decreases in operating income due to restructuring costs of $35.5 million . Second quarter 2014 includes decreases in operating income due to restructuring costs of $35.4 million . First quarter 2014 includes decreases in operating income due to restructuring costs of $17.4 million .

Financial Statements of Parent

Financial Statements of Parent Company Guarantor	12 Months Ended
	Dec. 31, 2013
Financial Statements of Parent Company Guarantor	Supplemental Guarantor Information 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 formed in January 2012 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) and Condensed Consolidating Statement of Cash Flows for the years ended December 31, 2015 , 2014 and 2013 and Condensed Consolidating Balance Sheet as of December 31, 2015 and 2014 . 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. Prior to the Redomicile, the Notes of the Subsidiary Issuer were guaranteed, fully and unconditionally, by the former parent company, Pentair Ltd. The supplemental financial information for the reporting periods prior to Redomicile are presented under this previous guarantee structure. Pentair plc and Subsidiaries Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Year Ended December 31, 2015 In millions Parent Company Guarantor Subsidiary Guarantor Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ — $ — $ 6,449.0 $ — $ 6,449.0 Cost of goods sold — — — 4,263.2 — 4,263.2 Gross profit — — — 2,185.8 — 2,185.8 Selling, general and administrative 33.7 2.2 5.3 1,293.1 1,334.3 Research and development — — — 119.6 — 119.6 Impairment of goodwill and trade names — — — 554.7 — 554.7 Operating (loss) income (33.7 ) (2.2 ) (5.3 ) 218.4 — 177.2 Loss (earnings) from continuing operations of investment in subsidiaries 26.0 22.4 (13.0 ) — (35.4 ) — Other (income) expense: Loss on sale of businesses, net — — — 3.2 — 3.2 Equity income of unconsolidated subsidiaries — — — (2.8 ) — (2.8 ) Interest income — — (80.6 ) (35.1 ) 109.7 (6.0 ) Interest expense — 1.4 126.3 90.7 (109.7 ) 108.7 Income (loss) from continuing operations before income taxes (59.7 ) (26.0 ) (38.0 ) 162.4 35.4 74.1 Provision for income taxes 5.3 — — 133.8 — 139.1 Net income (loss) from continuing operations (65.0 ) (26.0 ) (38.0 ) 28.6 35.4 (65.0 ) Loss from discontinued operations, net of tax — — — (4.7 ) — (4.7 ) Loss from sale / impairment of discontinued operations, net of tax — — — (6.7 ) — (6.7 ) Earnings (loss) from discontinued operations of investment in subsidiaries (11.4 ) (11.4 ) (11.4 ) — 34.2 — Net income (loss) $ (76.4 ) $ (37.4 ) $ (49.4 ) $ 17.2 $ 69.6 $ (76.4 ) Comprehensive income (loss), net of tax Net income (loss) $ (76.4 ) $ (37.4 ) $ (49.4 ) $ 17.2 $ 69.6 $ (76.4 ) Changes in cumulative translation adjustment (264.9 ) (264.9 ) (264.9 ) (264.9 ) 794.7 (264.9 ) Changes in market value of derivative financial instruments 0.2 0.2 0.2 0.2 (0.6 ) 0.2 Comprehensive income (loss) $ (341.1 ) $ (302.1 ) $ (314.1 ) $ (247.5 ) $ 863.7 $ (341.1 ) Pentair plc and Subsidiaries Condensed Consolidating Balance Sheet December 31, 2015 In millions Parent Company Guarantor Subsidiary Guarantor Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Total Assets Current assets Cash and cash equivalents $ — $ — $ 0.1 $ 126.2 $ — $ 126.3 Accounts and notes receivable, net 0.1 — — 1,167.6 — 1,167.7 Inventories — — — 1,174.3 — 1,174.3 Other current assets 25.2 12.8 2.1 310.1 (37.9 ) 312.3 Total current assets 25.3 12.8 2.2 2,778.2 (37.9 ) 2,780.6 Property, plant and equipment, net — — — 942.8 — 942.8 Other assets Investments in subsidiaries 4,495.6 4,486.1 10,151.1 — (19,132.8 ) — Goodwill — — — 5,255.4 — 5,255.4 Intangibles, net — — — 2,490.1 — 2,490.1 Other non-current assets 12.6 — 208.5 354.2 (187.2 ) 388.1 Total other assets 4,508.2 4,486.1 10,359.6 8,099.7 (19,320.0 ) 8,133.6 Total assets $ 4,533.5 $ 4,498.9 $ 10,361.8 $ 11,820.7 $ (19,357.9 ) $ 11,857.0 Liabilities and Equity Current liabilities Current maturities of long-term debt and short-term borrowings $ — $ — $ — $ 0.7 $ — $ 0.7 Accounts payable 0.6 — 0.3 577.9 578.8 Employee compensation and benefits 0.4 0.1 — 262.4 — 262.9 Other current liabilities 61.7 1.5 27.1 591.7 (37.9 ) 644.1 Total current liabilities 62.7 1.6 27.4 1,432.7 (37.9 ) 1,486.5 Other liabilities Long-term debt 453.3 1.7 4,556.0 (114.5 ) (187.2 ) 4,709.3 Pension and other post-retirement compensation and benefits — — — 287.2 — 287.2 Deferred tax liabilities — — 3.1 841.1 — 844.2 Other non-current liabilities 8.7 — — 512.3 — 521.0 Total liabilities 524.7 3.3 4,586.5 2,958.8 (225.1 ) 7,848.2 Equity 4,008.8 4,495.6 5,775.3 8,861.9 (19,132.8 ) 4,008.8 Total liabilities and equity $ 4,533.5 $ 4,498.9 $ 10,361.8 $ 11,820.7 $ (19,357.9 ) $ 11,857.0 Pentair plc and Subsidiaries Condensed Consolidating Statement of Cash Flows Year Ended December 31, 2015 In millions Parent Company Guarantor Subsidiary Guarantor Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Total Operating activities Net cash provided by (used for) operating activities $ (43.0 ) $ (48.7 ) $ (5.8 ) $ 767.1 $ 69.7 $ 739.3 Investing activities Capital expenditures — — — (134.3 ) — (134.3 ) Proceeds from sale of property and equipment — — — 27.3 — 27.3 Acquisitions, net of cash acquired — — — (1,913.9 ) — (1,913.9 ) Net intercompany loan activity — — 891.0 (295.0 ) (596.0 ) — Other — — — (3.6 ) — (3.6 ) Net cash provided by (used for) investing activities of continuing operations — — 891.0 (2,319.5 ) (596.0 ) (2,024.5 ) Net cash provided by (used for) investing activities of discontinued operations — — — 59.0 — 59.0 Net cash provided by (used for) investing activities — — 891.0 (2,260.5 ) (596.0 ) (1,965.5 ) Financing activities Net receipts of short-term borrowings — — — (2.3 ) — (2.3 ) Net receipts of commercial paper and revolving long-term debt — — 346.9 16.6 — 363.5 Proceeds from long-term debt — — 1,714.8 — — 1,714.8 Repayment of long-term debt — — (350.0 ) (6.6 ) — (356.6 ) Debt issuance costs — — (26.8 ) — — (26.8 ) Net change in advances to subsidiaries 471.7 48.7 (2,553.7 ) 1,507.0 526.3 — Excess tax benefits from share-based compensation — — — 6.0 — 6.0 Shares issued to employees, net of shares withheld 3.0 — — 16.4 — 19.4 Repurchases of ordinary shares (200.0 ) — — — — (200.0 ) Dividends paid (231.7 ) — — — — (231.7 ) Net cash provided by (used for) financing activities 43.0 48.7 (868.8 ) 1,537.1 526.3 1,286.3 Effect of exchange rate changes on cash and cash equivalents — — (16.4 ) (27.8 ) — (44.2 ) Change in cash and cash equivalents — — — 15.9 — 15.9 Cash and cash equivalents, beginning of year — — 0.1 110.3 — 110.4 Cash and cash equivalents, end of year $ — $ — $ 0.1 $ 126.2 $ — $ 126.3 Pentair plc and Subsidiaries Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Year Ended December 31, 2014 In millions Parent Company Guarantor Subsidiary Guarantor Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ — $ — $ 7,039.0 $ — $ 7,039.0 Cost of goods sold — — — 4,576.0 — 4,576.0 Gross profit — — — 2,463.0 — 2,463.0 Selling, general and administrative 25.3 2.6 7.7 1,458.2 — 1,493.8 Research and development — — — 117.3 — 117.3 Operating (loss) income (25.3 ) (2.6 ) (7.7 ) 887.5 — 851.9 Loss (earnings) from continuing operations of investment in subsidiaries (615.5 ) (619.7 ) (611.1 ) — 1,846.3 — Other (income) expense: Loss on sale of businesses, net — — — 0.2 — 0.2 Equity income of unconsolidated subsidiaries — — — (1.2 ) — (1.2 ) Interest income — — (92.3 ) (40.2 ) 128.8 (3.7 ) Interest expense 0.7 2.1 95.6 102.7 (128.8 ) 72.3 Income (loss) from continuing operations before income taxes 589.5 615.0 600.1 826.0 (1,846.3 ) 784.3 Provision for income taxes (17.5 ) (0.5 ) (2.4 ) 197.7 — 177.3 Net income (loss) from continuing operations 607.0 615.5 602.5 628.3 (1,846.3 ) 607.0 Income from discontinued operations, net of tax — — — (6.4 ) — (6.4 ) Loss from sale of discontinued operations, net of tax — — — (385.7 ) — (385.7 ) Earnings (loss) from discontinued operations of investment in subsidiaries (392.1 ) (392.1 ) (392.1 ) — 1,176.3 — Net income (loss) $ 214.9 $ 223.4 $ 210.4 $ 236.2 $ (670.0 ) $ 214.9 Comprehensive income (loss), net of tax Net income (loss) $ 214.9 $ 223.4 $ 210.4 $ 236.2 $ (670.0 ) $ 214.9 Changes in cumulative translation adjustment (336.3 ) (336.3 ) (336.3 ) (336.3 ) 1,008.9 (336.3 ) Changes in market value of derivative financial instruments (0.4 ) (0.4 ) (0.4 ) (0.4 ) 1.2 (0.4 ) Comprehensive income (loss) $ (121.8 ) $ (113.3 ) $ (126.3 ) $ (100.5 ) $ 340.1 $ (121.8 ) Pentair plc and Subsidiaries Condensed Consolidating Balance Sheet December 31, 2014 In millions Parent Company Guarantor Subsidiary Guarantor Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Total 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 Pentair plc and Subsidiaries Condensed Consolidating Statement of Cash Flows Year Ended December 31, 2014 In millions Parent Company Guarantor Subsidiary Guarantor Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Total Operating activities Net cash provided by (used for) operating activities $ 169.0 $ 208.6 $ 207.0 $ 1,093.8 $ (670.0 ) $ 1,008.4 Investing activities Capital expenditures — — — (129.6 ) — (129.6 ) Proceeds from sale of property and equipment — — — 13.1 — 13.1 Proceeds from sale of businesses, net — — — 0.3 — 0.3 Acquisitions, net of cash acquired — — — (12.3 ) — (12.3 ) Net intercompany loan activity — — 37.8 112.2 (150.0 ) — Other — — — 0.2 — 0.2 Net cash provided by (used for) investing activities — — 37.8 (16.1 ) (150.0 ) (128.3 ) Financing activities Net repayments on short-term borrowings — — — 0.5 — 0.5 Net receipts of commercial paper and revolving long-term debt — — 458.7 9.9 — 468.6 Proceeds from long-term debt — — — 2.2 — 2.2 Repayment of long-term debt — — — (16.8 ) — (16.8 ) Debt issuance costs — — (3.1 ) — — (3.1 ) Net change in advances to subsidiaries 741.1 (208.6 ) (747.3 ) (605.2 ) 820.0 — Excess tax benefits from share-based compensation — — — 12.6 — 12.6 Shares issued to employees, net of shares withheld — — — 37.0 — 37.0 Repurchases of ordinary shares (699.2 ) — — (450.8 ) — (1,150.0 ) Dividends paid (211.4 ) — — — — (211.4 ) Distributions to noncontrolling interest — — — (134.7 ) — (134.7 ) Net cash provided by (used for) financing activities (169.5 ) (208.6 ) (291.7 ) (1,145.3 ) 820.0 (995.1 ) Effect of exchange rate changes on cash and cash equivalents — — — (30.6 ) — (30.6 ) Change in cash and cash equivalents (0.5 ) — (46.9 ) (98.2 ) — (145.6 ) Cash and cash equivalents, beginning of year 0.5 — 47.0 208.5 — 256.0 Cash and cash equivalents, end of year $ — $ — $ 0.1 $ 110.3 $ — $ 110.4 Pentair plc and Subsidiaries Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Year Ended December 31, 2013 In millions Parent Company Guarantor Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ — $ 6,999.7 $ — $ 6,999.7 Cost of goods sold — — 4,629.6 — 4,629.6 Gross profit — — 2,370.1 — 2,370.1 Selling, general and administrative 21.0 13.3 1,459.4 — 1,493.7 Research and development — — 122.8 — 122.8 Impairment of trade names — — 11.0 — 11.0 Operating (loss) income (21.0 ) (13.3 ) 776.9 — 742.6 Loss (earnings) from continuing operations of investment in subsidiaries (539.0 ) (508.6 ) — 1,047.6 — Other (income) expense: Gain on sale of businesses, net (20.8 ) — (20.8 ) Equity income of unconsolidated subsidiaries — — (2.0 ) — (2.0 ) Interest income — (99.2 ) (53.4 ) 148.2 (4.4 ) Interest expense 5.6 106.0 111.9 (148.2 ) 75.3 Income (loss) from continuing operations before income taxes and noncontrolling interest 512.4 488.5 741.2 (1,047.6 ) 694.5 Provision (benefit) for income taxes 0.7 1.4 174.9 — 177.0 Net income (loss) from continuing operations before noncontrolling interest 511.7 487.1 566.3 (1,047.6 ) 517.5 Income from discontinued operations, net of tax — — 25.9 — 25.9 Loss from sale of discontinued operations, net of tax — — (0.8 ) — (0.8 ) Earnings (loss) from discontinued operations of investment in subsidiaries 25.1 25.1 — (50.2 ) — Net income (loss) before noncontrolling interest 536.8 512.2 591.4 (1,097.8 ) 542.6 Noncontrolling interest — — 5.8 — 5.8 Net income (loss) attributable to Pentair plc $ 536.8 $ 512.2 $ 585.6 $ (1,097.8 ) $ 536.8 Net income (loss) from continuing operations attributable to Pentair plc $ 511.7 $ 487.1 $ 560.5 $ (1,047.6 ) $ 511.7 Comprehensive income (loss), net of tax Net income (loss) before noncontrolling interest $ 536.8 $ 512.2 $ 591.4 $ (1,097.8 ) $ 542.6 Changes in cumulative translation adjustment (31.3 ) (31.3 ) (29.1 ) 62.6 (29.1 ) Amortization of pension and other post-retirement prior service cost (0.4 ) (0.4 ) (0.4 ) 0.8 (0.4 ) Changes in market value of derivative financial instruments (0.3 ) (0.3 ) (0.3 ) 0.6 (0.3 ) Total comprehensive income (loss) 504.8 480.2 561.6 (1,033.8 ) 512.8 Less: Comprehensive income (loss) attributable to noncontrolling interest — — 8.0 — 8.0 Comprehensive income (loss) attributable to Pentair plc $ 504.8 $ 480.2 $ 553.6 $ (1,033.8 ) $ 504.8 Pentair plc and Subsidiaries Condensed Consolidating Statement of Cash Flows Year Ended December 31, 2013 In millions Parent Company Guarantor Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Total Operating activities Net cash provided by (used for) operating activities $ 534.2 $ 514.0 $ 977.5 $ (1,097.8 ) $ 927.9 Investing activities Capital expenditures — — (170.0 ) — (170.0 ) Proceeds from sale of property and equipment — — 6.0 — 6.0 Acquisitions, net of cash acquired — — (92.4 ) — (92.4 ) Proceeds from sale of business, net — — 43.5 — 43.5 Other — — 1.7 — 1.7 Net cash provided by (used for) investing activities — — (211.2 ) — (211.2 ) Financing activities Net receipts (repayments) of commercial paper and revolving long-term debt — 104.2 — — 104.2 Proceeds from long-term debt — — 0.7 — 0.7 Repayment of long-term debt — — (7.4 ) — (7.4 ) Debt issuance costs — (1.4 ) — — (1.4 ) Debt extinguishment costs — — — — — Net change in advances to subsidiaries (339.5 ) (569.8 ) (188.5 ) 1,097.8 — Excess tax benefits from share-based compensation — — 16.8 — 16.8 Shares issued to employees, net of shares withheld — — 80.0 — 80.0 Repurchases of ordinary shares — — (715.8 ) — (715.8 ) Dividends paid (194.2 ) — — — (194.2 ) Distributions to noncontrolling interest — — (2.0 ) — (2.0 ) Net cash provided by (used for) financing activities (533.7 ) (467.0 ) (816.2 ) 1,097.8 (719.1 ) Effect of exchange rate changes on cash and cash equivalents — — 21.0 — 21.0 Change in cash and cash equivalents 0.5 47.0 (28.9 ) — 18.6 Cash and cash equivalents, beginning of year — — 237.4 — 237.4 Cash and cash equivalents, end of year $ 0.5 $ 47.0 $ 208.5 $ — $ 256.0

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2015
Schedule II - Valuation and Qualifying Accounts	Schedule II — Valuation and Qualifying Accounts Pentair plc and Subsidiaries In millions Beginning balance Additions charged (reductions credited) to costs and expenses Deductions (1) Other changes (2) Ending balance Allowances for doubtful accounts Year ended December 31, 2015 $ 42.5 $ 21.0 $ 7.1 $ (4.6 ) $ 51.8 Year ended December 31, 2014 $ 58.7 $ (1.2 ) $ 11.5 $ (3.5 ) $ 42.5 Year ended December 31, 2013 $ 14.0 $ 49.7 $ 2.4 $ (2.6 ) $ 58.7 (1) Uncollectible accounts written off, net of recoveries (2) Result of foreign currency effects

Basis of Presentation and Sum28

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Basis of Presentation	Basis of presentation The accompanying consolidated financial statements include the accounts of Pentair and all subsidiaries, both the United States ("U.S.") and non-U.S., which we control. Intercompany accounts and transactions have been eliminated. Investments in companies of which we own 20% to 50% of the voting stock or have the ability to exercise significant influence over operating and financial policies of the investee are accounted for using the equity method of accounting and as a result, our share of the earnings or losses of such equity affiliates is included in the Consolidated Statements of Operations and Comprehensive Income (Loss). The consolidated financial statements have been prepared in U.S. dollars ("USD") and in accordance with accounting principles generally accepted in the United States of America ("GAAP").
Fiscal Year	Fiscal year Our fiscal year ends on December 31. We reported our interim quarterly periods on a 13-week basis ending on a Saturday during 2015, 2014 and 2013. Beginning in 2016, we will report our interim quarterly periods on a calendar quarter basis.
Use of Estimates	Use of estimates The preparation of our consolidated financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported in these consolidated financial statements and accompanying notes, disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates include our accounting for valuation of goodwill and indefinite lived intangible assets, estimated losses on accounts receivable, estimated realizable value on excess and obsolete inventory, percentage of completion revenue recognition, assets acquired and liabilities assumed in acquisitions, estimated selling proceeds from assets held for sale, contingent liabilities, income taxes and pension and other post-retirement benefits. Actual results could differ from our estimates.
Revenue Recognition	Revenue recognition We recognize revenue when it is realized or realizable and has been earned. Revenue is recognized when persuasive evidence of an arrangement exists, shipment or delivery has occurred (depending on the terms of the sale), our price to the buyer is fixed or determinable, and collectability is reasonably assured. Generally, there is no post-shipment obligation on product sold other than warranty obligations in the normal and ordinary course of business. In the event significant post-shipment obligations were to exist, revenue recognition would be deferred until substantially all obligations were satisfied. Percentage of completion Revenue from certain long-term contracts is recognized over the contractual period under the percentage of completion method of accounting. Under this method, sales and gross profit are recognized as work is performed either based on the relationship between the actual costs incurred and the total estimated costs at completion ("the cost-to-cost method") or based on efforts for measuring progress towards completion in situations in which this approach is more representative of the progress on the contract than the cost-to-cost method. Changes to the original estimates may be required during the life of the contract and such estimates are reviewed on a regular basis. Sales and gross profit are adjusted using the cumulative catch-up method for revisions in estimated total contract costs. These reviews have not resulted in adjustments that were significant to our results of operations. Estimated losses are recorded when identified. Claims against customers are recognized as revenue upon settlement. We record costs and earnings in excess of billings on uncompleted contracts within Other current assets and billings in excess of costs and earnings on uncompleted contracts within Other current liabilities in the Consolidated Balance Sheets. Sales returns The right of return may exist explicitly or implicitly with our customers. Generally, our return policy allows for customer returns only upon our authorization. Goods returned must be product we continue to market and must be in salable condition. Returns of custom or modified goods are normally not allowed. At the time of sale, we reduce revenue for the estimated effect of returns. Estimated sales returns include consideration of historical sales levels, the timing and magnitude of historical sales return levels as a percent of sales, type of product, type of customer and a projection of this experience into the future. Pricing and sales incentives We record estimated reductions to revenue for customer programs and incentive offerings including pricing arrangements, promotions and other volume-based incentives at the later of the date revenue is recognized or the incentive is offered. Sales incentives given to our customers are recorded as a reduction of revenue unless we (1) receive an identifiable benefit for the goods or services in exchange for the consideration and (2) we can reasonably estimate the fair value of the benefit received. Pricing is established at or prior to the time of sale with our customers and we record sales at the agreed-upon net selling price. However, one of our businesses allows customers to apply for a refund of a percentage of the original purchase price if they can demonstrate sales to a qualifying end customer. At the time of sale, we estimate the anticipated refund to be paid based on historical experience and reduce sales for the probable cost of the discount. The cost of these refunds is recorded as a reduction in gross sales. Volume-based incentives involve rebates that are negotiated at or prior to the time of sale with the customer and are redeemable only if the customer achieves a specified cumulative level of sales or sales increase. Under these incentive programs, at the time of sale, we reforecast the anticipated rebate to be paid based on forecasted sales levels. These forecasts are updated at least quarterly for each customer and sales are reduced for the anticipated cost of the rebate. If the forecasted sales for a customer changes, the accrual for rebates is adjusted to reflect the new amount of rebates expected to be earned by the customer.
Shipping and Handling Costs	Shipping and handling costs Amounts billed to customers for shipping and handling are recorded in Net sales in the accompanying Consolidated Statements of Operations and Comprehensive Income (Loss). Shipping and handling costs incurred by Pentair for the delivery of goods to customers are included in Cost of goods sold in the accompanying Consolidated Statements of Operations and Comprehensive Income (Loss).
Research and Development	Research and development We conduct research and development ("R&D") activities in our own facilities, which consist primarily of the development of new products, product applications and manufacturing processes. We expense R&D costs as incurred. R&D expenditures during 2015 , 2014 and 2013 were $119.6 million , $117.3 million and $122.8 million , respectively.
Cash Equivalents	Cash equivalents We consider highly liquid investments with original maturities of three months or less to be cash equivalents.
Trade Receivables and Concentration of Credit Risk	Trade receivables and concentration of credit risk We record an allowance for doubtful accounts, reducing our receivables balance to an amount we estimate is collectible from our customers. Estimates used in determining the allowance for doubtful accounts are based on current trends, aging of accounts receivable, periodic credit evaluations of our customers’ financial condition, and historical collection experience. We generally do not require collateral. No customer receivable balances exceeded 10% of total net receivable balances as of December 31, 2015 or December 31, 2014 .
Inventories	Inventories Inventories are stated at the lower of cost or market with substantially all inventories recorded using the first-in, first-out ("FIFO") cost method and with an insignificant amount of inventories located outside the U.S. recorded using a moving average cost method which approximates FIFO.
Property, Plant and Equipment, Net	Property, plant and equipment, net Property, plant and equipment is stated at historical cost. We compute depreciation by the straight-line method based on the following estimated useful lives: Years Land improvements 5 to 20 Buildings and leasehold improvements 5 to 50 Machinery and equipment 3 to 15 Significant improvements that add to productive capacity or extend the lives of properties are capitalized. Costs for repairs and maintenance are charged to expense as incurred. When property is retired or otherwise disposed of, the recorded cost of the assets and their related accumulated depreciation are removed from the Consolidated Balance Sheets and any related gains or losses are included in income. We review the recoverability of long-lived assets to be held and used, such as property, plant and equipment, when events or changes in circumstances occur that indicate the carrying value of the asset or asset group may not be recoverable. The assessment of possible impairment is based on our ability to recover the carrying value of the asset or asset group from the expected future pre-tax cash flows (undiscounted and without interest charges) of the related operations. If these cash flows are less than the carrying value of such asset or asset group, an impairment loss is recognized for the difference between estimated fair value and carrying value. Impairment losses on long-lived assets held for sale are determined in a similar manner, except that fair values are reduced for the cost to dispose of the assets. The measurement of impairment requires us to estimate future cash flows and the fair value of long-lived assets. During 2015 , 2014 and 2013 , we recorded impairment charges of $17.7 million , $20.9 million and $16.6 million , respectively, in conjunction with restructuring activities.
Goodwill and identifiable intangible assets	Goodwill and identifiable intangible assets Goodwill Goodwill represents the excess of the cost of acquired businesses over the net of the fair value of identifiable tangible net assets and identifiable intangible assets purchased and liabilities assumed. Goodwill is tested annually for impairment and is tested for impairment more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test is performed using a two-step process. In the first step, the fair value of each reporting unit is compared with the carrying amount of the reporting unit, including goodwill. If the estimated fair value is less than the carrying amount of the reporting unit there is an indication that goodwill impairment exists and a second step must be completed in order to determine the amount of the goodwill impairment, if any, that should be recorded. In the second step, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation. The fair value of each reporting unit is determined using a discounted cash flow analysis and market approach. Projecting discounted future cash flows requires us to make significant estimates regarding future revenues and expenses, projected capital expenditures, changes in working capital and the appropriate discount rate. Use of the market approach consists of comparisons to comparable publicly-traded companies that are similar in size and industry. Actual results may differ from those used in our valuations. This non-recurring fair value measurement is a "Level 3" measurement under the fair value hierarchy described below. In developing our discounted cash flow analysis, assumptions about future revenues and expenses, capital expenditures and changes in working capital, are based on our annual operating plan and long-term business plan for each of our reporting units. These plans take into consideration numerous factors including historical experience, anticipated future economic conditions, changes in raw material prices and growth expectations for the industries and end markets we participate in. These assumptions are determined over a six year long-term planning period. The six year growth rates for revenues and operating profits vary for each reporting unit being evaluated. Revenues and operating profit beyond 2021 are projected to grow at a perpetual growth rate of 3.0% . Discount rate assumptions for each reporting unit take into consideration our assessment of risks inherent in the future cash flows of the respective reporting unit and our weighted-average cost of capital. We utilized discount rates ranging from 9.5% to 12.5% in determining the discounted cash flows in our fair value analysis. In estimating fair value using the market approach, we identify a group of comparable publicly-traded companies for each reporting unit that are similar in terms of size and product offering. These groups of comparable companies are used to develop multiples based on total market-based invested capital as a multiple of earnings before interest, taxes, depreciation and amortization ("EBITDA"). We determine our estimated values by applying these comparable EBITDA multiples to the operating results of our reporting units. The ultimate fair value of each reporting unit is determined considering the results of both valuation methods. We completed step one of our annual goodwill impairment evaluation as of the first day of the fourth quarter of 2015 , 2014 and 2013 with each reporting unit’s fair value in excess of its carrying value. During the latter part of the fourth quarter of 2015 , the oil and gas industry continued to deteriorate, leading management to reconsider its estimates for future profitability of the Valves & Controls reporting unit and thereby increasing the likelihood that the associated goodwill could be impaired. As such, we concluded that a triggering event occurred during the fourth quarter of 2015 requiring that we test Valves & Controls goodwill for impairment. As a result, we reperformed our step one analysis as of December 31, 2015 . The results of our step one goodwill impairment testing as of December 31, 2015 indicated that the fair value of Valves & Controls was below its carrying value. Accordingly, we performed the step two test and concluded the goodwill of Valves & Controls was impaired. As a result, we recorded a non-cash goodwill impairment charge of $515.2 million for the year ended December 31, 2015 . The impairment is included in Impairment of goodwill and trade names in our Consolidated Statements of Operations and Comprehensive Income (Loss). The non-recurring fair value measurement is a "Level 3" measurement under the fair value hierarchy described below. Identifiable intangible assets Our primary identifiable intangible assets include: customer relationships, trade names, proprietary technology and patents. Identifiable intangibles with finite lives are amortized and those identifiable intangibles with indefinite lives are not amortized. Identifiable intangible assets that are subject to amortization are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Identifiable intangible assets not subject to amortization are tested for impairment annually or more frequently if events warrant. The impairment test for trade names consists of a comparison of the fair value of the trade name with its carrying value. Fair value is measured using the relief-from-royalty method. This method assumes the trade name has value to the extent that the owner is relieved of the obligation to pay royalties for the benefits received from them. This method requires us to estimate the future revenue for the related brands, the appropriate royalty rate and the weighted average cost of capital. The non-recurring fair value measurement is a "Level 3" measurement under the fair value hierarchy described below. As noted above, during the latter part of the fourth quarter of 2015 , the oil and gas industry continued to deteriorate, leading management to reconsider its estimates for future profitability of the Valves & Controls and thereby increasing the likelihood that the associated intangible assets could be impaired. As such, we concluded that a triggering event occurred during the fourth quarter of 2015 requiring that we test Valves & Controls trade names for impairment. As a result of this test, an impairment charge of $39.5 million was recorded in 2015 related to trade names in Valves & Controls. There was no impairment charge recorded in 2014 for identifiable intangible assets. An impairment charge of $11.0 million was recorded in 2013 related to a trade name in Technical Solutions as the result of a rebranding strategy implemented in the fourth quarter of 2013 . These trade name impairment charges were recorded in Impairment of goodwill and trade names in our Consolidated Statements of Operations and Comprehensive Income (Loss).
Equity and Cost Method Investments	Equity and cost method investments We have investments that are accounted for using the equity method. Our proportionate share of income or losses from investments accounted for under the equity method is recorded in the Consolidated Statements of Operations and Comprehensive Income (Loss). We write down or write off an investment and recognize a loss when events or circumstances indicate there is impairment in the investment that is other-than-temporary. This requires significant judgment, including assessment of the investees’ financial condition and in certain cases the possibility of subsequent rounds of financing, as well as the investees’ historical and projected results of operations and cash flows. If the actual outcomes for the investees are significantly different from projections, we may incur future charges for the impairment of these investments. Our investment in and loans to equity method investees was $36.0 million and $12.9 million at December 31, 2015 and December 31, 2014 , respectively, net of our proportionate share of the results of their operations. Investments for which we do not have significant influence are accounted for under the cost method. The aggregate balance of these investments was $9.3 million and $8.6 million at December 31, 2015 and December 31, 2014 , respectively.
Income Taxes	Income taxes We use the asset and liability approach to account for income taxes. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of differences between the carrying amounts of assets and liabilities and their respective tax bases using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period when the change is enacted. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Changes in valuation allowances from period to period are included in our tax provision in the period of change. We recognize the effect of income tax positions only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.
Pension and other post-retirement plans	Pension and other post-retirement plans We sponsor U.S. and Non-U.S. defined-benefit pension and other post-retirement plans. The pension and other post-retirement benefit costs for company-sponsored benefit plans are determined from actuarial assumptions and methodologies, including discount rates, expected returns on plan assets and health care cost trend rates. These assumptions are updated annually and are disclosed in Note 13. We recognize changes in the fair value of plan assets and net actuarial gains or losses for pension and other post-retirement benefits annually in the fourth quarter each year ("mark-to-market adjustment") and, if applicable, in any quarter in which an interim remeasurement is triggered. Net actuarial gains and losses occur when the actual experience differs from any of the various assumptions used to value our pension and other post-retirement plans or when assumptions change, as they may each year. The remaining components of pension expense, including service and interest costs and estimated return on plan assets, are recorded on a quarterly basis.
Environmental	Environmental We recognize environmental clean-up liabilities on an undiscounted basis when a loss is probable and can be reasonably estimated. Such liabilities generally are not subject to insurance coverage. The cost of each environmental clean-up is estimated by engineering, financial and legal specialists based on current law. Such estimates are based primarily upon the estimated cost of investigation and remediation required and the likelihood that, where applicable, other potentially responsible parties ("PRPs") will be able to fulfill their commitments at the sites where Pentair may be jointly and severally liable. The process of estimating environmental clean-up liabilities is complex and dependent primarily on the nature and extent of historical information and physical data relating to a contaminated site, the complexity of the site, the uncertainty as to what remedy and technology will be required and the outcome of discussions with regulatory agencies and other PRPs at multi-party sites. In future periods, new laws or regulations, advances in clean-up technologies and additional information about the ultimate clean-up remedy that is used could significantly change our estimates. Accruals for environmental liabilities are included in Other current liabilities and Other non-current liabilities in the Consolidated Balance Sheets.
Asbestos Matters	Asbestos matters We recognize asbestos-related liabilities on an undiscounted basis when a loss is probable and can be reasonably estimated. Certain of these liabilities are subject to insurance coverage and we recognize receivables for asbestos-related insurance recoveries only when realization of the claim is deemed probable. 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. The process of estimating asbestos-related liabilities and the corresponding insurance recoveries receivable is complex and dependent primarily on our historical claim experience, estimates of potential future claims, our legal strategy for resolving these claims, the availability of insurance coverage, and the solvency and creditworthiness of insurers. On an annual basis, we review, and update as appropriate, such estimated asbestos liabilities and assets and the underlying assumptions. Accruals for asbestos-related liabilities are included in Other non-current liabilities and the estimated receivable for insurance recoveries are recorded in Other non-current assets in the Consolidated Balance Sheets.
Insurance Subsidiary	Insurance subsidiary We insure certain general and product liability, property, workers’ compensation and automobile liability risks through our regulated wholly-owned captive insurance subsidiary, Penwald Insurance Company ("Penwald"). Reserves for policy claims are established based on actuarial projections of ultimate losses. As of December 31, 2015 and 2014 , reserves for policy claims were $62.2 million ( $13.2 million included in Other current liabilities and $49.0 million included in Other non-current liabilities ) and $58.1 million ( $13.2 million included in Other current liabilities and $44.9 million included in Other non-current liabilities ), respectively.
Share-Based Compensation	Share-based compensation We account for share-based compensation awards on a fair value basis. The estimated grant date fair value of each option award is recognized in income on an accelerated basis over the requisite service period (generally the vesting period). The estimated fair value of each option award is calculated using the Black-Scholes option-pricing model. From time to time, we have elected to modify the terms of the original grant. These modified grants are accounted for as a new award and measured using the fair value method, resulting in the inclusion of additional compensation expense in our Consolidated Statements of Operations and Comprehensive Income (Loss). Restricted share awards and units are recorded as compensation cost on an accelerated basis over the requisite service periods based on the market value on the date of grant.
Earnings (Loss) Per Common Share	Earnings (loss) per ordinary share Basic earnings (loss) per share are computed by dividing net income (loss) attributable to Pentair plc by the weighted-average number of ordinary shares outstanding. Diluted earnings (loss) per share are computed by dividing net income (loss) attributable to Pentair plc by the weighted-average number of ordinary shares outstanding including the dilutive effects of ordinary share equivalents.
Derivative Financial Instruments	Derivative financial instruments We recognize all derivatives, including those embedded in other contracts, as either assets or liabilities at fair value in our Consolidated Balance Sheets. If the derivative is designated and is effective as a cash-flow hedge, changes in the fair value of the derivative are recorded in Accumulated other comprehensive income (loss) ("AOCI") as a separate component of equity in the Consolidated Balance Sheets and is recognized in the Consolidated Statements of Operations and Comprehensive Income (Loss) when the hedged item affects earnings. If the underlying hedged transaction ceases to exist or if the hedge becomes ineffective, all changes in fair value of the related derivatives that have not been settled are recognized in current earnings. For a derivative that is not designated as or does not qualify as a hedge, changes in fair value are reported in earnings immediately. Gains and losses on net investment hedges are included in AOCI as a separate component of equity in the Consolidated Balance Sheets. We use derivative instruments for the purpose of hedging interest rate and currency exposures, which exist as part of ongoing business operations. We do not hold or issue derivative financial instruments for trading or speculative purposes. All other contracts that contain provisions meeting the definition of a derivative also meet the requirements of and have been designated as, normal purchases or sales. Our policy is not to enter into contracts with terms that cannot be designated as normal purchases or sales. From time to time, we may enter into short duration foreign currency contracts to hedge foreign currency risks.
Fair Value Measurements	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.
Foreign Currency Translation	Foreign currency translation The financial statements of subsidiaries located outside of the U.S. are generally measured using the local currency as the functional currency, except for certain corporate entities outside of the U.S. which are measured using USD. Assets and liabilities of these subsidiaries are translated at the rates of exchange at the balance sheet date. Income and expense items are translated at average monthly rates of exchange. The resultant translation adjustments are included in AOCI, a separate component of equity.
New accounting standards	New accounting standards In November 2015, the Financial Accounting Standards Board (the "FASB") issued a new accounting standard which clarifies and simplifies the balance sheet classification of deferred tax assets and liabilities. Under the new standard, all deferred tax assets and liabilities are required to be classified as non-current in a classified balance sheet. The new standard is effective for fiscal years beginning after December 15, 2016, including interim periods within that reporting period, and early adoption is permitted. We have not yet determined the impact this standard will have on our financial condition. In September 2015, 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. We adopted 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 also 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.

Basis of Presentation and Sum29

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Estimated Useful Lives of Property and Equipment	We compute depreciation by the straight-line method based on the following estimated useful lives: Years Land improvements 5 to 20 Buildings and leasehold improvements 5 to 50 Machinery and equipment 3 to 15

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	In millions As Originally Reported As Revised Cash $ 11.6 $ 11.8 Accounts receivable 76.7 75.9 Inventories 99.0 102.4 Other current assets 9.5 2.9 Property, plant and equipment 27.0 53.4 Identifiable intangible assets 964.6 1,033.8 Goodwill 1,102.8 1,061.9 Current liabilities (96.0 ) (97.2 ) Deferred income taxes, including current (373.0 ) (418.8 ) Other liabilities (4.1 ) (8.0 ) Purchase price $ 1,818.1 $ 1,818.1
Pro Forma Consolidated Condensed Financial Results of Operations	Years ended December 31 In millions, except share and per-share data 2015 2014 Pro forma net sales $ 6,835.2 $ 7,596.0 Pro forma net income (loss) from continuing operations (1.6 ) 609.2 Pro forma earnings (loss) per ordinary share - continuing operations Basic $ (0.01 ) $ 3.20 Diluted (0.01 ) 3.15

Discontinued Operations and D31

Discontinued Operations and Divestitures Discontinued Operations and Divestitures (Tables)	12 Months Ended
	Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]	Operating results of discontinued operations are summarized below: Years ended December 31 In millions 2015 2014 2013 Net sales $ 18.6 $ 295.8 $ 490.1 Cost of goods sold 18.1 250.2 387.4 Gross profit $ 0.5 $ 45.6 $ 102.7 Income (loss) from discontinued operations before income taxes $ (7.1 ) $ 1.5 $ 33.0 Income tax benefit (provision) 2.4 (7.9 ) (7.1 ) Income (loss) from discontinued operations, net of tax $ (4.7 ) $ (6.4 ) $ 25.9 Loss from sale / impairment of discontinued operations before income taxes $ (6.7 ) $ (400.4 ) $ (1.1 ) Income tax benefit — 14.7 0.3 Loss from sale / impairment of discontinued operations, net of tax $ (6.7 ) $ (385.7 ) $ (0.8 ) The carrying amounts of major classes of assets and liabilities that were classified as held for sale on the Consolidated Balance Sheets were as follows: December 31 In millions 2015 2014 Cash and cash equivalents $ — $ 7.0 Accounts and notes receivable, net — 28.8 Inventories — 30.1 Other current assets — 14.7 Current assets held for sale $ — $ 80.6 Property, plant and equipment, net $ — $ 18.5 Other non-current assets — 6.4 Non-current assets held for sale $ — $ 24.9 Accounts payable $ — $ 12.2 Employee compensation and benefits — 11.3 Other current liabilities — 11.6 Current liabilities held for sale $ — $ 35.1 Long-term debt $ — $ 4.0 Pension and other post-retirement compensation and benefits — 2.5 Non-current liabilities held for sale $ — $ 6.5

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	12 Months Ended
	Dec. 31, 2015
Basic and Diluted Earnings (Loss) Per Share	Basic and diluted earnings (loss) per share were calculated as follows: Years ended December 31 In millions, except per share data 2015 2014 2013 Net income (loss) attributable to Pentair plc $ (76.4 ) $ 214.9 $ 536.8 Net income (loss) from continuing operations attributable to Pentair plc $ (65.0 ) $ 607.0 $ 511.7 Weighted average ordinary shares outstanding Basic 180.3 190.6 201.1 Dilutive impact of stock options and restricted stock awards 2.3 3.1 3.5 Diluted 182.6 193.7 204.6 Earnings (loss) per ordinary share attributable to Pentair plc Basic Continuing operations $ (0.36 ) $ 3.19 $ 2.54 Discontinued operations (0.06 ) (2.06 ) 0.13 Basic earnings (loss) per ordinary share attributable to Pentair plc $ (0.42 ) $ 1.13 $ 2.67 Diluted Continuing operations $ (0.36 ) $ 3.14 $ 2.50 Discontinued operations (0.06 ) (2.03 ) 0.12 Diluted earnings (loss) per ordinary share attributable to Pentair plc $ (0.42 ) $ 1.11 $ 2.62 Anti-dilutive stock options excluded from the calculation of diluted earnings per share 1.3 0.5 0.2

Restructuring (Tables)

Restructuring (Tables)	12 Months Ended
	Dec. 31, 2015
Restructuring Related Costs	Restructuring related costs included in Selling, general and administrative expenses in the Consolidated Statements of Operations and Comprehensive Income (Loss) included costs for severance and other restructuring costs as follows: Years ended December 31 In millions 2015 2014 2013 Severance and related costs $ 96.7 $ 58.9 $ 81.5 Other 21.1 29.4 21.7 Total restructuring costs $ 117.8 $ 88.3 $ 103.2
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 Consolidated Balance Sheets is summarized as follows: Years ended December 31 In millions 2015 2014 Beginning balance $ 73.4 $ 68.6 Costs incurred 96.7 58.9 Cash payments and other (78.9 ) (54.1 ) Ending balance $ 91.2 $ 73.4
Restructuring Costs By Segment [Table Text Block]	Years ended December 31 In millions 2015 2014 2013 Valves & Controls $ 76.5 $ 48.8 $ 51.0 Flow & Filtration Solutions 11.2 14.0 17.8 Water Quality Systems 6.2 15.2 5.0 Technical Solutions 15.7 4.3 19.4 Other 8.2 6.0 10.0 Consolidated $ 117.8 $ 88.3 $ 103.2

Goodwill and Other Identifiab34

Goodwill and Other Identifiable Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Changes in Carrying Amount of Goodwill by Segment	The changes in the carrying amount of goodwill for the years ended December 31, 2015 and 2014 by reportable segment were as follows: In millions December 31, 2014 Acquisitions/ Impairment Foreign currency December 31, 2015 Valves & Controls $ 1,511.6 $ — $ (515.2 ) $ — $ 996.4 Flow & Filtration Solutions 942.4 — — (59.7 ) 882.7 Water Quality Systems 1,137.6 — — (16.5 ) 1,121.1 Technical Solutions 1,150.3 1,116.4 — (11.5 ) 2,255.2 Total goodwill $ 4,741.9 $ 1,116.4 $ (515.2 ) $ (87.7 ) $ 5,255.4 In millions December 31, 2013 Acquisitions/ Foreign currency December 31, 2014 Valves & Controls $ 1,511.6 $ — $ — $ 1,511.6 Flow & Filtration Solutions 1,036.4 — (94.0 ) 942.4 Water Quality Systems 1,154.7 6.8 (23.9 ) 1,137.6 Technical Solutions 1,158.0 — (7.7 ) 1,150.3 Total goodwill $ 4,860.7 $ 6.8 $ (125.6 ) $ 4,741.9
Identifiable Intangible Assets	Identifiable intangible assets consisted of the following at December 31: 2015 2014 In millions Cost Accumulated amortization Net Cost Accumulated amortization Net Finite-life intangibles Customer relationships $ 2,078.7 $ (415.8 ) $ 1,662.9 $ 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 249.3 (114.2 ) 135.1 255.7 (96.7 ) 159.0 Total finite-life intangibles 2,329.8 (531.2 ) 1,798.6 1,505.5 (423.0 ) 1,082.5 Indefinite-life intangibles Trade names 691.5 — 691.5 525.6 — 525.6 Total intangibles $ 3,021.3 $ (531.2 ) $ 2,490.1 $ 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 next five years is as follows: In millions 2016 2017 2018 2019 2020 Estimated amortization expense $ 149.5 $ 148.0 $ 145.6 $ 138.8 $ 133.7

Supplemental Balance Sheet In35

Supplemental Balance Sheet Information (Tables)	12 Months Ended
	Dec. 31, 2015
Supplemental Balance Sheet Information	December 31 In millions 2015 2014 Inventories Raw materials and supplies $ 433.0 $ 460.1 Work-in-process 249.2 229.0 Finished goods 492.1 441.3 Total inventories $ 1,174.3 $ 1,130.4 Other current assets Cost in excess of billings $ 114.4 $ 103.5 Prepaid expenses 87.6 109.6 Deferred income taxes 96.7 139.4 Other current assets 13.6 14.3 Total other current assets $ 312.3 $ 366.8 Property, plant and equipment, net Land and land improvements $ 161.9 $ 165.1 Buildings and leasehold improvements 518.8 493.5 Machinery and equipment 1,287.6 1,169.1 Construction in progress 79.3 71.0 Total property, plant and equipment 2,047.6 1,898.7 Accumulated depreciation and amortization 1,104.8 948.7 Total property, plant and equipment, net $ 942.8 $ 950.0 Other non-current assets Asbestos-related insurance receivable $ 111.0 $ 115.8 Deferred income taxes 62.8 87.9 Other non-current assets 214.3 232.5 Total other non-current assets $ 388.1 $ 436.2 Other current liabilities Deferred revenue and customer deposits $ 94.6 $ 112.7 Dividends payable 59.6 116.8 Billings in excess of cost 32.0 41.4 Accrued warranty 59.8 66.4 Other current liabilities 398.1 371.8 Total other current liabilities $ 644.1 $ 709.1 Other non-current liabilities Asbestos-related liabilities $ 237.9 $ 249.1 Taxes payable 71.1 61.6 Other non-current liabilities 212.0 187.0 Total other non-current liabilities $ 521.0 $ 497.7

Supplemental Cash Flow Inform36

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2015
Supplemental Disclosure of Cash Flow Information	Years ended December 31 In millions 2015 2014 2013 Cash paid for interest, net $ 76.9 $ 67.5 $ 69.4 Cash paid for income taxes, net 182.8 134.2 91.2

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2015
Components of Accumulated Other Comprehensive Income (Loss)	Components of AOCI consist of the following: December 31 In millions 2015 2014 Cumulative translation adjustments $ (635.9 ) $ (371.0 ) Market value of derivative financial instruments, net of tax (9.1 ) (9.3 ) Accumulated other comprehensive loss $ (645.0 ) $ (380.3 )

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2015 Maturity year December 31 2015 2014 Commercial paper 1.308% 2019 $ 179.5 $ 987.6 Revolving credit facilities 1.581% 2019 1,181.4 9.8 Senior notes - fixed rate 1.350% 2015 — 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 548.4 — 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 4.670% 2016 0.7 6.7 Total debt 4,710.0 3,004.1 Less: Current maturities and short-term borrowings (0.7 ) (6.7 ) Long-term debt $ 4,709.3 $ 2,997.4
Debt Outstanding Matures on Calendar Year Basis	Debt outstanding at December 31, 2015 matures on a calendar year basis as follows: In millions 2016 2017 2018 2019 2020 Thereafter Total Contractual debt obligation maturities $ — $ 350.0 $ 500.0 $ 2,159.3 $ 400.0 $ 1,300.0 $ 4,709.3 Capital lease obligations 0.7 — — — — — 0.7 Total maturities $ 0.7 $ 350.0 $ 500.0 $ 2,159.3 $ 400.0 $ 1,300.0 $ 4,710.0

Derivatives and Financial Ins39

Derivatives and Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 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 at December 31 were as follows: 2015 2014 In millions Recorded Amount Fair Value Recorded Amount Fair Value Variable rate debt $ 1,360.9 $ 1,360.9 $ 997.4 $ 997.4 Fixed rate debt 3,349.1 3,395.4 2,006.7 2,070.4 Total debt $ 4,710.0 $ 4,756.3 $ 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: Recurring fair value measurements December 31, 2015 In millions Level 1 Level 2 Level 3 Total Foreign currency contract assets $ — $ 0.1 $ — $ 0.1 Foreign currency contract liabilities — (7.6 ) — (7.6 ) Deferred compensation plans assets (1) 43.8 7.0 — 50.8 Total recurring fair value measurements $ 43.8 $ (0.5 ) $ — $ 43.3 Nonrecurring fair value measurements Goodwill (2) $ — $ — $ 996.4 $ 996.4 Trade name intangibles (3) — — 138.1 138.1 Total nonrecurring fair value measurements $ — $ — $ 1,134.5 $ 1,134.5 Recurring fair value measurements December 31, 2014 In millions Level 1 Level 2 Level 3 Total 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 (4) (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 fourth quarter of 2015, we performed a goodwill impairment test for our Valves & Controls reporting unit using the required two-step process as of December 31, 2015. As a result, we recorded a non-cash goodwill impairment charge of $515.2 million . The first step of this process includes comparing the fair value to the carrying value of the reporting unit to which the goodwill is allocated to identify potential impairment. If the fair value of the reporting unit exceeds its carrying value, goodwill allocated to that reporting unit is considered not impaired. If the inverse result is observed, the reporting unit is considered to be impaired and step two of the test to measure the amount of impairment must be completed. The fair value of the reporting unit was determined using a discounted cash flow analysis and market approach. Projecting discounted future cash flows requires us to make significant estimates regarding future revenues and expenses, projected capital expenditures, changes in working capital and the appropriate discount rate. Use of the market approach consists of comparisons to comparable publicly-traded companies that are similar in size and industry. Actual results may differ from those used in our valuations. Step two compares the implied fair value of the goodwill with the carrying value of that goodwill. If the carrying value of the goodwill exceeds its implied fair value, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination. That is, the fair value of the reporting unit is allocated to all of its assets and liabilities as if the reporting unit had been acquired in a business combination and its fair value was the purchase price paid to acquire the reporting unit. (3) During the fourth quarter of 2015, we performed an impairment test for our Valves & Controls trade names. As a result, we recorded a pre-tax, non-cash trade name impairment charge of $39.5 million . The fair value of trade names is measured using the relief-from-royalty method. This method assumes the trade name has value to the extent that the owner is relieved of the obligation to pay royalties for the benefits received from them. This method requires us to estimate the future revenue for the related brands, the appropriate royalty rate and the weighted average cost of capital. (4) 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). See Note 3 for additional information about the impairmen

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income (loss) before income taxes and noncontrolling interest	from continuing operations before income taxes and noncontrolling interest consisted of the following: Years ended December 31 In millions 2015 2014 2013 Federal (1) $ (23.7 ) $ 13.3 $ 328.7 International 97.8 771.0 365.8 Income from continuing operations before income taxes and noncontrolling interest $ 74.1 $ 784.3 $ 694.5 (1) As a result of the Redomicile, "Federal" reflects income from continuing operations before income taxes and noncontrolling interest for the U.K. in 2015 and 2014 and for Switzerland in 2013 .
Provision for Income Taxes	The provision for income taxes consisted of the following: Years ended December 31 In millions 2015 2014 2013 Currently payable Federal (1) $ — $ (0.4 ) $ 17.4 International (2) 136.1 175.7 105.6 Total current taxes 136.1 175.3 123.0 Deferred Federal (1) 0.9 2.2 18.9 International (2) 2.1 (0.2 ) 35.1 Total deferred taxes 3.0 2.0 54.0 Total provision for income taxes $ 139.1 $ 177.3 $ 177.0 (1) As a result of the Redomicile, "Federal" represents U.K. taxes for 2015 and 2014 and Swiss taxes for 2013 . (2) As a result of the Redomicile, "International" represents non-U.K. taxes for 2015 and 2014 and non-Swiss taxes for 2013
Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate	Reconciliations of the federal statutory income tax rate to our effective tax rate were as follows: Years ended December 31 Percentages 2015 2014 2013 Federal statutory income tax rate (1) 20.3 21.0 7.8 Tax effect of international operations (2) (74.5 ) (4.9 ) 10.4 Change in valuation allowances 81.6 3.4 5.7 Withholding taxes 7.3 2.3 1.1 Interest limitations 8.8 0.8 0.5 Non-deductible transaction costs 3.4 — — Non-deductible goodwill impairment 140.8 — — Effective tax rate 187.7 22.6 25.5 (1) The statutory rate for 2015 and 2014 reflects the U.K. statutory rate of 20.25 percent and 21 percent , respectively. For 2013 , the statutory rate reflects the Swiss statutory rate of 7.8 percent . (2) The tax effect of international operations for 2015 and 2014 consists of non-U.K. jurisdictions. For 2013 , the tax effect of international operations consists of non-Swiss jurisdictions.
Reconciliations of Gross Unrecognized Tax Benefits	Reconciliations of the beginning and ending gross unrecognized tax benefits were as follows: Years ended December 31 In millions 2015 2014 2013 Beginning balance $ 62.1 $ 60.8 $ 53.4 Gross increases for tax positions in prior periods 5.2 2.3 12.2 Gross decreases for tax positions in prior periods (3.4 ) (0.5 ) (0.6 ) Gross increases based on tax positions related to the current year 6.2 1.8 2.7 Gross decreases related to settlements with taxing authorities (1.9 ) (0.1 ) (5.1 ) Reductions due to statute expiration (1.5 ) (1.2 ) (1.8 ) Gross decreases due to currency fluctuations (3.4 ) (1.0 ) — Gross increases due to acquisitions 6.6 — — Ending balance $ 69.9 $ 62.1 $ 60.8
Deferred Taxes	Deferred taxes were recorded in the Consolidated Balance Sheets as follows: December 31 In millions 2015 2014 Other current assets $ 96.7 $ 139.4 Other non-current assets 62.8 87.9 Deferred tax liabilities 844.2 528.3 Net deferred tax liabilities $ 684.7 $ 301.0
Tax Effects of Major Items Recorded as Deferred Tax Assets and Liabilities	The tax effects of the major items recorded as deferred tax assets and liabilities were as follows: December 31 In millions 2015 2014 Deferred tax assets Accrued liabilities and reserves $ 168.7 $ 200.3 Pension and other post-retirement benefits 53.2 68.4 Employee compensation & benefits 102.7 100.0 Tax loss and credit carryforwards 392.8 291.9 Total deferred tax assets 717.4 660.6 Valuation allowance 362.5 235.8 Deferred tax assets, net of valuation allowance 354.9 424.8 Deferred tax liabilities Property, plant and equipment 58.1 51.6 Goodwill and other intangibles 942.4 645.6 Other liabilities 39.1 28.6 Total deferred tax liabilities 1,039.6 725.8 Net deferred tax liabilities $ 684.7 $ 301.0

Benefit Plans (Tables)

Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2015
Reconciliations of Benefit Obligations, Plan Assets of Pension Plans and Funded Status of Plans	The following tables present reconciliations of plan benefit obligations, fair value of plan assets and the funded status of pension plans and other post-retirement plans as of and for the years ended December 31, 2015 and 2014 : U.S. pension plans Non-U.S. pension plans Other post-retirement plans In millions 2015 2014 2015 2014 2015 2014 Change in benefit obligations Benefit obligation beginning of year $ 416.2 $ 346.9 $ 505.2 $ 462.0 $ 41.5 $ 42.4 Service cost 14.0 13.1 9.6 7.4 0.2 0.2 Interest cost 14.9 15.4 14.2 17.3 1.5 1.7 Actuarial loss (gain) (39.1 ) 50.1 (9.5 ) 73.0 (0.9 ) 0.3 Foreign currency translation — — (31.6 ) (36.6 ) — — Benefits paid (9.1 ) (9.3 ) (17.9 ) (17.9 ) (3.5 ) (3.1 ) Benefit obligation end of year $ 396.9 $ 416.2 $ 470.0 $ 505.2 $ 38.8 $ 41.5 Change in plan assets Fair value of plan assets beginning of year $ 343.9 $ 285.8 $ 309.7 $ 286.5 $ — $ — Actual return on plan assets (11.1 ) 63.7 4.2 35.2 — — Company contributions 4.0 3.7 17.2 20.9 3.5 3.1 Foreign currency translation — — (11.5 ) (15.0 ) — — Benefits paid (9.1 ) (9.3 ) (17.9 ) (17.9 ) (3.5 ) (3.1 ) Fair value of plan assets end of year $ 327.7 $ 343.9 $ 301.7 $ 309.7 $ — $ — Funded status Benefit obligations in excess of the fair value of plan assets $ (69.2 ) $ (72.3 ) $ (168.3 ) $ (195.5 ) $ (38.8 ) $ (41.5 )
Amounts Recognized in Consolidated Balance Sheets	Amounts recorded in the Consolidated Balance Sheets were as follows: U.S. pension plans Non-U.S. pension plans Other post-retirement plans In millions 2015 2014 2015 2014 2015 2014 Other non-current assets $ 0.5 $ 2.7 $ 6.1 $ 6.5 $ — $ — Current liabilities (4.1 ) (4.0 ) (4.0 ) (4.7 ) (3.3 ) (3.4 ) Non-current liabilities (65.6 ) (71.0 ) (170.4 ) (197.3 ) (35.5 ) (38.1 ) Benefit obligations in excess of the fair value of plan assets $ (69.2 ) $ (72.3 ) $ (168.3 ) $ (195.5 ) $ (38.8 ) $ (41.5 )
Pension Plans with an Accumulated Benefit Obligation or Projected Benefit Obligation in Excess of Plan Assets	Information for pension plans with an accumulated benefit obligation or projected benefit obligation in excess of plan assets as of December 31 was as follows: Projected benefit obligation exceeds the fair value of plan assets Accumulated benefit obligation exceeds the fair value of plan assets In millions 2015 2014 2015 2014 U.S. pension plans Projected benefit obligation $ 86.4 $ 92.5 $ 86.4 $ 92.5 Fair value of plan assets 16.6 17.5 16.6 17.5 Accumulated benefit obligation N/A N/A 82.4 85.1 Non-U.S. pension plans Projected benefit obligation $ 430.4 $ 460.0 $ 422.7 $ 453.2 Fair value of plan assets 256.0 258.1 248.8 252.3 Accumulated benefit obligation NA N/A 409.8 440.9
Weighted-Average Assumptions used to Determine Domestic Benefit Obligations and Domestic Net Periodic Benefit Cost	Weighted-average assumptions used to determine net periodic benefit expense (income) for years ended December 31 were as follows: U.S. pension plans Non-U.S. pension plans Other post-retirement plans Percentages 2015 2014 2013 2015 2014 2013 2015 2014 2013 Discount rate 3.63 % 4.51 % 3.67 % 3.04 % 4.13 % 3.85 % 3.60 % 4.35 % 3.40 % Expected long-term return on plan assets 3.65 % 4.56 % 3.75 % 5.32 % 5.95 % 5.98 % — — — Rate of compensation increase 4.00 % 4.00 % 4.37 % 2.95 % 3.02 % 3.02 % — — — Weighted-average assumptions used to determine benefit obligations as of December 31 were as follows: U.S. pension plans Non-U.S. pension plans Other post-retirement plans Percentages 2015 2014 2013 2015 2014 2013 2015 2014 2013 Discount rate 4.21 % 3.63 % 4.51 % 3.20 % 3.04 % 4.13 % 3.95 % 3.60 % 4.35 % Rate of compensation increase 4.00 % 4.00 % 4.00 % 2.87 % 2.95 % 3.02 % — — —
Assumed Health Care Cost Trend Rates	The assumed healthcare cost trend rates for other post-retirement plans as of December 31 were as follows: 2015 2014 Healthcare cost trend rate assumed for following year 7.4 % 6.8 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 4.4 % 4.5 % Year the cost trend rate reaches the ultimate trend rate 2038 2027
Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates	A one-percentage-point change in the assumed healthcare cost trend rates would have the following effects as of and for the year ended December 31, 2015 : One Percentage Point In millions Increase Decrease Increase (decrease) in annual service and interest cost $ 0.1 $ (0.1 ) Increase (decrease) in other post-retirement benefit obligations 0.9 (0.8 )
Actual Overall Asset Allocation for U.S. And Non-U.S. Plans as Compared to Investment Policy Goals	Our actual overall asset allocation for our U.S. and non-U.S. pension plans as compared to our investment policy goals as of December 31 was as follows: U.S. pension plans Actual Target Percentages 2015 2014 2015 2014 Fixed income 98 % 97 % 100 % 100 % Alternative 2 % 3 % — — Non-U.S. pension plans Actual Target Percentages 2015 2014 2015 2014 Equity securities 40 % 40 % 46 % 45 % Fixed income 51 % 53 % 54 % 55 % Alternative 7 % 5 % — — Cash 2 % 2 % — —
Plan Assets Using Fair Value Hierarchy	The fair values of our pension plan assets and their respective levels in the fair value hierarchy as of December 31, 2015 and December 31, 2014 were as follows: December 31, 2015 In millions Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 2.9 $ 3.4 $ — $ 6.3 Fixed income: Corporate and non U.S. government — 381.5 — 381.5 U.S. treasuries — 52.0 — 52.0 Mortgage-backed securities — 5.8 — 5.8 Other — 37.2 — 37.2 Global equity securities: Mid cap equity — 3.4 — 3.4 Large cap equity — 43.2 — 43.2 International equity — 74.4 — 74.4 Other investments — 21.5 4.1 25.6 Total fair value of plan assets $ 2.9 $ 622.4 $ 4.1 $ 629.4 December 31, 2014 In millions Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 3.1 $ 4.5 $ — $ 7.6 Fixed income: Corporate and non U.S. government — 373.6 — 373.6 U.S. treasuries — 70.7 — 70.7 Mortgage-backed securities — 8.3 — 8.3 Other — 45.5 — 45.5 Global equity securities: Mid cap equity — 3.1 — 3.1 Large cap equity — 43.7 — 43.7 International equity — 77.0 — 77.0 Other investments — 17.4 6.7 24.1 Total fair value of plan assets $ 3.1 $ 643.8 $ 6.7 $ 653.6
Reconciliation of Level 3 Assets	The following tables present a reconciliation of Level 3 assets held during the years ended December 31, 2015 and 2014 , respectively: In millions January 1, 2015 Net realized and unrealized gains (losses) Net issuances and settlements Net transfers into (out of) level 3 December 31, 2015 Other investments $ 6.7 $ (0.3 ) $ (2.3 ) $ — $ 4.1 In millions January 1, 2014 Net realized and unrealized gains (losses) Net issuances and settlements Net transfers into (out of) level 3 December 31, 2014 Other investments $ 19.0 $ 0.7 $ (11.8 ) $ (1.2 ) $ 6.7
Expected Future Service to Be Paid by Plans	The following benefit payments, which reflect expected future service, as appropriate, are expected to be paid by the plans for the years ended December 31 as follows: In millions U.S. pension plans Non-U.S. pension plans Other post- retirement plans 2016 $ 12.6 $ 14.4 $ 3.3 2017 13.4 15.8 3.2 2018 16.0 16.8 3.2 2019 18.5 18.3 3.1 2020 19.4 19.7 3.0 Thereafter 112.0 103.2 13.4
Pension benefits
Components of Net Periodic Benefit Cost	Components of net periodic benefit expense (income) for our pension plans for the years ended December 31 were as follows: U. S. pension plans Non-U.S. pension plans In millions 2015 2014 2013 2015 2014 2013 Service cost $ 14.0 $ 13.1 $ 15.6 $ 9.6 $ 7.4 $ 8.4 Interest cost 14.9 15.4 14.3 14.2 17.3 17.9 Expected return on plan assets (10.0 ) (10.5 ) (9.7 ) (15.6 ) (15.9 ) (15.2 ) Amortization of prior year service cost (benefit) — — 0.4 — — (0.2 ) Net actuarial (gain) loss (18.0 ) (3.1 ) (18.3 ) (0.8 ) 50.3 (30.0 ) Net periodic benefit expense (income) $ 0.9 $ 14.9 $ 2.3 $ 7.4 $ 59.1 $ (19.1 )
Post-retirement
Components of Net Periodic Benefit Cost	Components of net periodic benefit expense (income) for our other post-retirement plans for the years ended December 31 were as follows: Other post-retirement plans In millions 2015 2014 2013 Service cost $ 0.2 $ 0.2 $ 0.3 Interest cost 1.5 1.7 1.9 Amortization of prior year service benefit — — (0.8 ) Net actuarial (gain) loss (0.9 ) 0.3 (15.9 ) Net periodic benefit expense (income) $ 0.8 $ 2.2 $ (14.5 )

Share Plans (Tables)

Share Plans (Tables)	12 Months Ended
	Dec. 31, 2015
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]	December 31 In millions 2015 2014 2013 Restricted stock units $ 21.6 $ 22.6 $ 20.2 Stock options 11.4 11.0 10.9 Total share-based compensation expense $ 33.0 $ 33.6 $ 31.1
Stock Option Activity	The following table summarizes stock option activity under all plans for the year ended December 31, 2015 : Shares and intrinsic value in millions Number of shares Weighted- average exercise price Weighted- average remaining contractual life (years) Aggregate intrinsic value Outstanding as of January 1, 2015 5.7 $ 39.08 Granted 0.7 65.30 Exercised (0.7 ) 35.27 Forfeited (0.1 ) 64.52 Outstanding as of December 31, 2015 5.6 $ 42.55 4.8 $ 61.7 Options exercisable as of December 31, 2015 4.4 $ 35.93 3.9 $ 61.7 Options expected to vest as of December 31, 2015 1.2 $ 65.24 8.1 $ —
Stock Option Fair Value Assumptions	We estimated the fair value of each stock option award on the date of grant using a Black-Scholes option pricing model, modified for dividends and using the following weighted average assumptions: December 31 2015 2014 2013 Risk-free interest rate 1.60 % 1.44 % 0.69 % Expected dividend yield 1.97 % 1.46 % 2.01 % Expected share price volatility 30.4 % 35.3 % 36.0 % Expected term (years) 6.0 5.6 5.7
Restricted Stock Activity	The following table summarizes restricted stock unit activity under all plans for the year ended December 31, 2015 : Shares in millions Number of shares Weighted average grant date fair value Outstanding as of January 1, 2015 1.1 $ 50.55 Granted 0.3 63.45 Vested (0.5 ) 48.25 Forfeited (0.1 ) 54.89 Outstanding as of December 31, 2015 0.8 $ 55.64

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2015
Financial Information by Reportable Business Segment	Financial information by reportable segment is included in the following summary: 2015 2014 2013 2015 2014 2013 In millions Net sales Segment income (loss) Valves & Controls $ 1,840.1 $ 2,377.3 $ 2,451.7 $ 223.0 $ 398.5 $ 349.3 Flow & Filtration Solutions 1,441.6 1,603.1 1,651.8 185.1 199.5 202.4 Water Quality Systems 1,381.5 1,356.4 1,269.3 281.8 253.3 227.9 Technical Solutions 1,809.3 1,728.1 1,663.4 395.0 378.1 342.0 Other (23.5 ) (25.9 ) (36.5 ) (83.7 ) (93.7 ) (108.4 ) Consolidated $ 6,449.0 $ 7,039.0 $ 6,999.7 $ 1,001.2 $ 1,135.7 $ 1,013.2 2015 2014 2013 2015 2014 2013 In millions Identifiable assets (1) Depreciation Valves & Controls $ 3,243.3 $ 4,045.2 $ 4,198.2 $ 58.3 $ 59.0 $ 64.0 Flow & Filtration Solutions 1,822.8 2,040.0 2,311.7 23.6 23.7 23.4 Water Quality Systems 1,801.7 1,828.3 1,851.1 21.7 21.9 20.3 Technical Solutions 4,488.4 2,117.3 2,093.4 27.6 24.2 23.6 Other 500.8 624.4 1,288.9 8.3 9.9 10.0 Consolidated $ 11,857.0 $ 10,655.2 $ 11,743.3 $ 139.5 $ 138.7 $ 141.3 2015 2014 2013 In millions Capital expenditures Valves & Controls $ 43.0 $ 45.9 $ 67.2 Flow & Filtration Solutions 20.4 24.9 32.2 Water Quality Systems 21.1 20.6 31.5 Technical Solutions 47.4 24.0 16.2 Other 2.4 14.2 22.9 Consolidated $ 134.3 $ 129.6 $ 170.0 (1) All cash and cash equivalents and assets held for sale are included in "Other.
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: In millions 2015 2014 2013 Segment income $ 1,001.2 $ 1,135.7 $ 1,013.2 Deal related costs and expenses (14.3 ) — — Inventory step-up and customer backlog (35.7 ) — (86.6 ) Restructuring and other (120.9 ) (109.6 ) (119.9 ) Intangible amortization, excluding customer backlog (121.4 ) (114.0 ) (110.9 ) Pension and other post-retirement mark-to-market gain (loss) 23.0 (49.9 ) 63.2 Goodwill and trade name impairment (554.7 ) — (11.0 ) Redomicile related expenses — (10.3 ) (5.4 ) Operating income $ 177.2 $ 851.9 $ 742.6
Geographic Information	The following tables present certain geographic information by region: 2015 2014 2013 2015 2014 2013 In millions Net sales Long-lived assets U.S. $ 3,091.0 $ 3,103.6 $ 2,981.7 $ 381.4 $ 350.0 $ 365.4 Western Europe 1,141.5 1,355.5 1,373.8 324.5 340.0 393.9 Developing (1) 1,425.6 1,662.0 1,733.8 158.6 180.9 193.3 Other Developed (2) 790.9 917.9 910.4 78.3 79.1 91.7 Consolidated $ 6,449.0 $ 7,039.0 $ 6,999.7 $ 942.8 $ 950.0 $ 1,044.3 (1) - Developing includes China, Eastern Europe, Latin America, the Middle East and Southeast Asia. (2) - Other Developed includes Australia, Canada and Japan.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Net rental expense	Net rental expense under operating leases was as follows: Years ended December 31 In millions 2015 2014 2013 Gross rental expense $ 54.8 $ 68.7 $ 76.0 Sublease rental income (0.9 ) (1.3 ) (0.9 ) Net rental expense $ 53.9 $ 67.4 $ 75.1
Net future minimum lease commitments	Future minimum lease commitments under non-cancelable operating leases, principally related to facilities, machinery, equipment and vehicles as of December 31, 2015 were as follows: In millions 2016 2017 2018 2019 2020 Thereafter Total Minimum lease payments $ 45.1 $ 33.4 $ 25.3 $ 20.2 $ 15.1 $ 23.3 $ 162.4 Minimum sublease rentals (0.8 ) (0.8 ) (0.5 ) (0.4 ) (0.2 ) — (2.7 ) Net future minimum lease commitments $ 44.3 $ 32.6 $ 24.8 $ 19.8 $ 14.9 $ 23.3 $ 159.7
Changes in Carrying Amount of Service and Product Warranties	The changes in the carrying amount of service and product warranties for the years ended December 31, 2015 and 2014 were as follows: Years ended December 31 In millions 2015 2014 Beginning balance $ 66.4 $ 56.0 Service and product warranty provision 61.7 75.3 Payments (66.3 ) (62.1 ) Foreign currency translation (2.0 ) (2.8 ) Ending balance $ 59.8 $ 66.4

Selected Quarterly Data (Tables

Selected Quarterly Data (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information	The following tables present 2015 and 2014 quarterly financial information: 2015 In millions, except per-share data First Quarter Second Quarter Third Quarter Fourth Quarter Full Year Net sales $ 1,475.0 $ 1,661.2 $ 1,552.1 $ 1,760.7 $ 6,449.0 Gross profit 510.2 566.2 540.1 569.3 2,185.8 Operating income (loss) 171.2 217.9 180.0 (391.9 ) 177.2 Net income (loss) from continuing operations 118.2 153.9 115.2 (452.3 ) (65.0 ) Income (loss) from discontinued operations, net of tax (4.3 ) (1.3 ) — 0.9 (4.7 ) Loss from sale / impairment of discontinued operations, net of tax — (4.8 ) — (1.9 ) (6.7 ) Net income (loss) 113.9 147.8 115.2 (453.3 ) (76.4 ) Earnings (loss) per ordinary share (1) Basic Continuing operations $ 0.66 $ 0.85 $ 0.64 $ (2.51 ) $ (0.36 ) Discontinued operations (0.03 ) (0.03 ) — (0.01 ) (0.06 ) Basic earnings (loss) per ordinary share $ 0.63 $ 0.82 $ 0.64 $ (2.52 ) $ (0.42 ) Diluted Continuing operations $ 0.65 $ 0.84 $ 0.63 $ (2.51 ) $ (0.36 ) Discontinued operations (0.03 ) (0.03 ) — (0.01 ) (0.06 ) Diluted earnings (loss) per ordinary share $ 0.62 $ 0.81 $ 0.63 $ (2.52 ) $ (0.42 ) 2014 In millions, except per-share data First Quarter Second Quarter Third Quarter Fourth Quarter Full Year Net sales $ 1,644.0 $ 1,834.1 $ 1,758.4 $ 1,802.5 $ 7,039.0 Gross profit 564.1 646.3 624.7 627.9 2,463.0 Operating income 182.1 226.4 267.4 176.0 851.9 Net income from continuing operations 125.5 159.2 192.5 129.8 607.0 Income (loss) from discontinued operations, net of tax (1.3 ) 2.3 1.6 (9.0 ) (6.4 ) Loss from sale / impairment of discontinued operations, net of tax (5.6 ) — (380.1 ) — (385.7 ) Net income (loss) 118.6 161.5 (186.0 ) 120.8 214.9 Earnings (loss) per ordinary share (1) Basic Continuing operations $ 0.64 $ 0.82 $ 1.01 $ 0.71 $ 3.19 Discontinued operations (0.04 ) 0.02 (1.99 ) (0.05 ) (2.06 ) Basic earnings (loss) per ordinary share $ 0.60 $ 0.84 $ (0.98 ) $ 0.66 $ 1.13 Diluted Continuing operations $ 0.63 $ 0.81 $ 1.00 $ 0.70 $ 3.14 Discontinued operations (0.04 ) 0.01 (1.95 ) (0.05 ) (2.03 ) Diluted earnings (loss) per ordinary share $ 0.59 $ 0.82 $ (0.95 ) $ 0.65 $ 1.11 (1) Amounts may not total to annual earnings because each quarter and year are calculated separately based on basic and diluted weighted-average ordinary shares outstanding during that period.

Financial Statements of Paren46

Financial Statements of Parent Company Guarantor (Tables)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)	Pentair plc and Subsidiaries Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Year Ended December 31, 2015 In millions Parent Company Guarantor Subsidiary Guarantor Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ — $ — $ 6,449.0 $ — $ 6,449.0 Cost of goods sold — — — 4,263.2 — 4,263.2 Gross profit — — — 2,185.8 — 2,185.8 Selling, general and administrative 33.7 2.2 5.3 1,293.1 1,334.3 Research and development — — — 119.6 — 119.6 Impairment of goodwill and trade names — — — 554.7 — 554.7 Operating (loss) income (33.7 ) (2.2 ) (5.3 ) 218.4 — 177.2 Loss (earnings) from continuing operations of investment in subsidiaries 26.0 22.4 (13.0 ) — (35.4 ) — Other (income) expense: Loss on sale of businesses, net — — — 3.2 — 3.2 Equity income of unconsolidated subsidiaries — — — (2.8 ) — (2.8 ) Interest income — — (80.6 ) (35.1 ) 109.7 (6.0 ) Interest expense — 1.4 126.3 90.7 (109.7 ) 108.7 Income (loss) from continuing operations before income taxes (59.7 ) (26.0 ) (38.0 ) 162.4 35.4 74.1 Provision for income taxes 5.3 — — 133.8 — 139.1 Net income (loss) from continuing operations (65.0 ) (26.0 ) (38.0 ) 28.6 35.4 (65.0 ) Loss from discontinued operations, net of tax — — — (4.7 ) — (4.7 ) Loss from sale / impairment of discontinued operations, net of tax — — — (6.7 ) — (6.7 ) Earnings (loss) from discontinued operations of investment in subsidiaries (11.4 ) (11.4 ) (11.4 ) — 34.2 — Net income (loss) $ (76.4 ) $ (37.4 ) $ (49.4 ) $ 17.2 $ 69.6 $ (76.4 ) Comprehensive income (loss), net of tax Net income (loss) $ (76.4 ) $ (37.4 ) $ (49.4 ) $ 17.2 $ 69.6 $ (76.4 ) Changes in cumulative translation adjustment (264.9 ) (264.9 ) (264.9 ) (264.9 ) 794.7 (264.9 ) Changes in market value of derivative financial instruments 0.2 0.2 0.2 0.2 (0.6 ) 0.2 Comprehensive income (loss) $ (341.1 ) $ (302.1 ) $ (314.1 ) $ (247.5 ) $ 863.7 $ (341.1 )	Pentair plc and Subsidiaries Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Year Ended December 31, 2014 In millions Parent Company Guarantor Subsidiary Guarantor Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ — $ — $ 7,039.0 $ — $ 7,039.0 Cost of goods sold — — — 4,576.0 — 4,576.0 Gross profit — — — 2,463.0 — 2,463.0 Selling, general and administrative 25.3 2.6 7.7 1,458.2 — 1,493.8 Research and development — — — 117.3 — 117.3 Operating (loss) income (25.3 ) (2.6 ) (7.7 ) 887.5 — 851.9 Loss (earnings) from continuing operations of investment in subsidiaries (615.5 ) (619.7 ) (611.1 ) — 1,846.3 — Other (income) expense: Loss on sale of businesses, net — — — 0.2 — 0.2 Equity income of unconsolidated subsidiaries — — — (1.2 ) — (1.2 ) Interest income — — (92.3 ) (40.2 ) 128.8 (3.7 ) Interest expense 0.7 2.1 95.6 102.7 (128.8 ) 72.3 Income (loss) from continuing operations before income taxes 589.5 615.0 600.1 826.0 (1,846.3 ) 784.3 Provision for income taxes (17.5 ) (0.5 ) (2.4 ) 197.7 — 177.3 Net income (loss) from continuing operations 607.0 615.5 602.5 628.3 (1,846.3 ) 607.0 Income from discontinued operations, net of tax — — — (6.4 ) — (6.4 ) Loss from sale of discontinued operations, net of tax — — — (385.7 ) — (385.7 ) Earnings (loss) from discontinued operations of investment in subsidiaries (392.1 ) (392.1 ) (392.1 ) — 1,176.3 — Net income (loss) $ 214.9 $ 223.4 $ 210.4 $ 236.2 $ (670.0 ) $ 214.9 Comprehensive income (loss), net of tax Net income (loss) $ 214.9 $ 223.4 $ 210.4 $ 236.2 $ (670.0 ) $ 214.9 Changes in cumulative translation adjustment (336.3 ) (336.3 ) (336.3 ) (336.3 ) 1,008.9 (336.3 ) Changes in market value of derivative financial instruments (0.4 ) (0.4 ) (0.4 ) (0.4 ) 1.2 (0.4 ) Comprehensive income (loss) $ (121.8 ) $ (113.3 ) $ (126.3 ) $ (100.5 ) $ 340.1 $ (121.8 )	Pentair plc and Subsidiaries Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Year Ended December 31, 2013 In millions Parent Company Guarantor Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Total Net sales $ — $ — $ 6,999.7 $ — $ 6,999.7 Cost of goods sold — — 4,629.6 — 4,629.6 Gross profit — — 2,370.1 — 2,370.1 Selling, general and administrative 21.0 13.3 1,459.4 — 1,493.7 Research and development — — 122.8 — 122.8 Impairment of trade names — — 11.0 — 11.0 Operating (loss) income (21.0 ) (13.3 ) 776.9 — 742.6 Loss (earnings) from continuing operations of investment in subsidiaries (539.0 ) (508.6 ) — 1,047.6 — Other (income) expense: Gain on sale of businesses, net (20.8 ) — (20.8 ) Equity income of unconsolidated subsidiaries — — (2.0 ) — (2.0 ) Interest income — (99.2 ) (53.4 ) 148.2 (4.4 ) Interest expense 5.6 106.0 111.9 (148.2 ) 75.3 Income (loss) from continuing operations before income taxes and noncontrolling interest 512.4 488.5 741.2 (1,047.6 ) 694.5 Provision (benefit) for income taxes 0.7 1.4 174.9 — 177.0 Net income (loss) from continuing operations before noncontrolling interest 511.7 487.1 566.3 (1,047.6 ) 517.5 Income from discontinued operations, net of tax — — 25.9 — 25.9 Loss from sale of discontinued operations, net of tax — — (0.8 ) — (0.8 ) Earnings (loss) from discontinued operations of investment in subsidiaries 25.1 25.1 — (50.2 ) — Net income (loss) before noncontrolling interest 536.8 512.2 591.4 (1,097.8 ) 542.6 Noncontrolling interest — — 5.8 — 5.8 Net income (loss) attributable to Pentair plc $ 536.8 $ 512.2 $ 585.6 $ (1,097.8 ) $ 536.8 Net income (loss) from continuing operations attributable to Pentair plc $ 511.7 $ 487.1 $ 560.5 $ (1,047.6 ) $ 511.7 Comprehensive income (loss), net of tax Net income (loss) before noncontrolling interest $ 536.8 $ 512.2 $ 591.4 $ (1,097.8 ) $ 542.6 Changes in cumulative translation adjustment (31.3 ) (31.3 ) (29.1 ) 62.6 (29.1 ) Amortization of pension and other post-retirement prior service cost (0.4 ) (0.4 ) (0.4 ) 0.8 (0.4 ) Changes in market value of derivative financial instruments (0.3 ) (0.3 ) (0.3 ) 0.6 (0.3 ) Total comprehensive income (loss) 504.8 480.2 561.6 (1,033.8 ) 512.8 Less: Comprehensive income (loss) attributable to noncontrolling interest — — 8.0 — 8.0 Comprehensive income (loss) attributable to Pentair plc $ 504.8 $ 480.2 $ 553.6 $ (1,033.8 ) $ 504.8
Condensed Consolidating Balance Sheet	Pentair plc and Subsidiaries Condensed Consolidating Balance Sheet December 31, 2015 In millions Parent Company Guarantor Subsidiary Guarantor Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Total Assets Current assets Cash and cash equivalents $ — $ — $ 0.1 $ 126.2 $ — $ 126.3 Accounts and notes receivable, net 0.1 — — 1,167.6 — 1,167.7 Inventories — — — 1,174.3 — 1,174.3 Other current assets 25.2 12.8 2.1 310.1 (37.9 ) 312.3 Total current assets 25.3 12.8 2.2 2,778.2 (37.9 ) 2,780.6 Property, plant and equipment, net — — — 942.8 — 942.8 Other assets Investments in subsidiaries 4,495.6 4,486.1 10,151.1 — (19,132.8 ) — Goodwill — — — 5,255.4 — 5,255.4 Intangibles, net — — — 2,490.1 — 2,490.1 Other non-current assets 12.6 — 208.5 354.2 (187.2 ) 388.1 Total other assets 4,508.2 4,486.1 10,359.6 8,099.7 (19,320.0 ) 8,133.6 Total assets $ 4,533.5 $ 4,498.9 $ 10,361.8 $ 11,820.7 $ (19,357.9 ) $ 11,857.0 Liabilities and Equity Current liabilities Current maturities of long-term debt and short-term borrowings $ — $ — $ — $ 0.7 $ — $ 0.7 Accounts payable 0.6 — 0.3 577.9 578.8 Employee compensation and benefits 0.4 0.1 — 262.4 — 262.9 Other current liabilities 61.7 1.5 27.1 591.7 (37.9 ) 644.1 Total current liabilities 62.7 1.6 27.4 1,432.7 (37.9 ) 1,486.5 Other liabilities Long-term debt 453.3 1.7 4,556.0 (114.5 ) (187.2 ) 4,709.3 Pension and other post-retirement compensation and benefits — — — 287.2 — 287.2 Deferred tax liabilities — — 3.1 841.1 — 844.2 Other non-current liabilities 8.7 — — 512.3 — 521.0 Total liabilities 524.7 3.3 4,586.5 2,958.8 (225.1 ) 7,848.2 Equity 4,008.8 4,495.6 5,775.3 8,861.9 (19,132.8 ) 4,008.8 Total liabilities and equity $ 4,533.5 $ 4,498.9 $ 10,361.8 $ 11,820.7 $ (19,357.9 ) $ 11,857.0	Pentair plc and Subsidiaries Condensed Consolidating Balance Sheet December 31, 2014 In millions Parent Company Guarantor Subsidiary Guarantor Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Total 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	Pentair plc and Subsidiaries Condensed Consolidating Statement of Cash Flows Year Ended December 31, 2015 In millions Parent Company Guarantor Subsidiary Guarantor Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Total Operating activities Net cash provided by (used for) operating activities $ (43.0 ) $ (48.7 ) $ (5.8 ) $ 767.1 $ 69.7 $ 739.3 Investing activities Capital expenditures — — — (134.3 ) — (134.3 ) Proceeds from sale of property and equipment — — — 27.3 — 27.3 Acquisitions, net of cash acquired — — — (1,913.9 ) — (1,913.9 ) Net intercompany loan activity — — 891.0 (295.0 ) (596.0 ) — Other — — — (3.6 ) — (3.6 ) Net cash provided by (used for) investing activities of continuing operations — — 891.0 (2,319.5 ) (596.0 ) (2,024.5 ) Net cash provided by (used for) investing activities of discontinued operations — — — 59.0 — 59.0 Net cash provided by (used for) investing activities — — 891.0 (2,260.5 ) (596.0 ) (1,965.5 ) Financing activities Net receipts of short-term borrowings — — — (2.3 ) — (2.3 ) Net receipts of commercial paper and revolving long-term debt — — 346.9 16.6 — 363.5 Proceeds from long-term debt — — 1,714.8 — — 1,714.8 Repayment of long-term debt — — (350.0 ) (6.6 ) — (356.6 ) Debt issuance costs — — (26.8 ) — — (26.8 ) Net change in advances to subsidiaries 471.7 48.7 (2,553.7 ) 1,507.0 526.3 — Excess tax benefits from share-based compensation — — — 6.0 — 6.0 Shares issued to employees, net of shares withheld 3.0 — — 16.4 — 19.4 Repurchases of ordinary shares (200.0 ) — — — — (200.0 ) Dividends paid (231.7 ) — — — — (231.7 ) Net cash provided by (used for) financing activities 43.0 48.7 (868.8 ) 1,537.1 526.3 1,286.3 Effect of exchange rate changes on cash and cash equivalents — — (16.4 ) (27.8 ) — (44.2 ) Change in cash and cash equivalents — — — 15.9 — 15.9 Cash and cash equivalents, beginning of year — — 0.1 110.3 — 110.4 Cash and cash equivalents, end of year $ — $ — $ 0.1 $ 126.2 $ — $ 126.3	Pentair plc and Subsidiaries Condensed Consolidating Statement of Cash Flows Year Ended December 31, 2014 In millions Parent Company Guarantor Subsidiary Guarantor Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Total Operating activities Net cash provided by (used for) operating activities $ 169.0 $ 208.6 $ 207.0 $ 1,093.8 $ (670.0 ) $ 1,008.4 Investing activities Capital expenditures — — — (129.6 ) — (129.6 ) Proceeds from sale of property and equipment — — — 13.1 — 13.1 Proceeds from sale of businesses, net — — — 0.3 — 0.3 Acquisitions, net of cash acquired — — — (12.3 ) — (12.3 ) Net intercompany loan activity — — 37.8 112.2 (150.0 ) — Other — — — 0.2 — 0.2 Net cash provided by (used for) investing activities — — 37.8 (16.1 ) (150.0 ) (128.3 ) Financing activities Net repayments on short-term borrowings — — — 0.5 — 0.5 Net receipts of commercial paper and revolving long-term debt — — 458.7 9.9 — 468.6 Proceeds from long-term debt — — — 2.2 — 2.2 Repayment of long-term debt — — — (16.8 ) — (16.8 ) Debt issuance costs — — (3.1 ) — — (3.1 ) Net change in advances to subsidiaries 741.1 (208.6 ) (747.3 ) (605.2 ) 820.0 — Excess tax benefits from share-based compensation — — — 12.6 — 12.6 Shares issued to employees, net of shares withheld — — — 37.0 — 37.0 Repurchases of ordinary shares (699.2 ) — — (450.8 ) — (1,150.0 ) Dividends paid (211.4 ) — — — — (211.4 ) Distributions to noncontrolling interest — — — (134.7 ) — (134.7 ) Net cash provided by (used for) financing activities (169.5 ) (208.6 ) (291.7 ) (1,145.3 ) 820.0 (995.1 ) Effect of exchange rate changes on cash and cash equivalents — — — (30.6 ) — (30.6 ) Change in cash and cash equivalents (0.5 ) — (46.9 ) (98.2 ) — (145.6 ) Cash and cash equivalents, beginning of year 0.5 — 47.0 208.5 — 256.0 Cash and cash equivalents, end of year $ — $ — $ 0.1 $ 110.3 $ — $ 110.4	Pentair plc and Subsidiaries Condensed Consolidating Statement of Cash Flows Year Ended December 31, 2013 In millions Parent Company Guarantor Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Total Operating activities Net cash provided by (used for) operating activities $ 534.2 $ 514.0 $ 977.5 $ (1,097.8 ) $ 927.9 Investing activities Capital expenditures — — (170.0 ) — (170.0 ) Proceeds from sale of property and equipment — — 6.0 — 6.0 Acquisitions, net of cash acquired — — (92.4 ) — (92.4 ) Proceeds from sale of business, net — — 43.5 — 43.5 Other — — 1.7 — 1.7 Net cash provided by (used for) investing activities — — (211.2 ) — (211.2 ) Financing activities Net receipts (repayments) of commercial paper and revolving long-term debt — 104.2 — — 104.2 Proceeds from long-term debt — — 0.7 — 0.7 Repayment of long-term debt — — (7.4 ) — (7.4 ) Debt issuance costs — (1.4 ) — — (1.4 ) Debt extinguishment costs — — — — — Net change in advances to subsidiaries (339.5 ) (569.8 ) (188.5 ) 1,097.8 — Excess tax benefits from share-based compensation — — 16.8 — 16.8 Shares issued to employees, net of shares withheld — — 80.0 — 80.0 Repurchases of ordinary shares — — (715.8 ) — (715.8 ) Dividends paid (194.2 ) — — — (194.2 ) Distributions to noncontrolling interest — — (2.0 ) — (2.0 ) Net cash provided by (used for) financing activities (533.7 ) (467.0 ) (816.2 ) 1,097.8 (719.1 ) Effect of exchange rate changes on cash and cash equivalents — — 21.0 — 21.0 Change in cash and cash equivalents 0.5 47.0 (28.9 ) — 18.6 Cash and cash equivalents, beginning of year — — 237.4 — 237.4 Cash and cash equivalents, end of year $ 0.5 $ 47.0 $ 208.5 $ — $ 256.0

Basis of Presentation and Sum47

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Detail) shares in Millions, $ in Millions	1 Months Ended	12 Months Ended
	Sep. 28, 2012shares	Dec. 31, 2015USD ($)Person	Dec. 31, 2014USD ($)Person	Dec. 31, 2013USD ($)
Significant Accounting Policies [Line Items]
Impairment of Long-Lived Assets Held-for-use		$ 17.7	$ 20.9	$ 16.6
Revenue Recognition
Cost in excess of billings		114.4	103.5
Billings in excess of cost		32	41.4
Research and development
Research and development		$ 119.6	117.3	122.8
Goodwill and identifiable intangible assets
Goodwill planning period		6 years
Perpetual growth rate		3.00%
Goodwill, Impairment Loss		$ 515.2
Impairment charges, related to trade names			0
Equity and cost method investments
Investments in and loans to equity method investees		36	12.9
Aggregate balance cost method investments		9.3	8.6
Insurance subsidiary
Reserve for policy claims		$ 62.2	58.1
Minimum
Basis of presentation
Equity method investment, ownership percentage		20.00%
Goodwill and identifiable intangible assets
Discounted cash flows discount rate		9.50%
Maximum
Basis of presentation
Equity method investment, ownership percentage		50.00%
Goodwill and identifiable intangible assets
Discounted cash flows discount rate		12.50%
Other Current Liabilities
Insurance subsidiary
Reserve for policy claims		$ 13.2	13.2
Other Noncurrent Liabilities
Insurance subsidiary
Reserve for policy claims		$ 49	$ 44.9
Credit Concentration Risk
Trade receivables and concentration of credit risk
Customer receivable balances to total trade receivables		10.00%	10.00%
Number of customers | Person		0	0
Valves And Controls [Member]
Goodwill and identifiable intangible assets
Goodwill, Impairment Loss		$ 515.2
Impairment charges, related to trade names		39.5
Technical Solutions [Member]
Goodwill and identifiable intangible assets
Goodwill, Impairment Loss		$ 0
Impairment charges, related to trade names				$ 11
Tyco Flow Control International, Ltd
Significant Accounting Policies [Line Items]
Percentage Of Ownership Interests	100.00%
Stock Issued During Period, Shares, Acquisitions | shares	110.9

Basis of Presentation and Sum48

Basis of Presentation and Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Detail)	12 Months Ended
	Dec. 31, 2015
Land Improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful lives	5 years
Land Improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful lives	20 years
Buildings and Leasehold Improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful lives	5 years
Buildings and Leasehold Improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful lives	50 years
Machinery and Equipment | Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful lives	3 years
Machinery and Equipment | Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful lives	15 years

Acquisitions - Additional Infor

Acquisitions - Additional Information (Detail) - USD ($) $ in Millions	Jan. 30, 2014	Dec. 31, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 29, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Other acquisitions
Payments to Acquire Businesses, Net of Cash Acquired		$ 0.9		$ 96		$ 1,913.9	$ 12.3	$ 92.4
Goodwill		5,255.4				5,255.4	4,741.9	$ 4,860.7
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual						147
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual							12.7
Goodwill, Acquired During Period				43.2		1,116.4	6.8
Finite-lived Intangible Assets Acquired				53.3
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests							$ 134.7
ERICO Global Company [Member]
Other acquisitions
Payments to Acquire Businesses, Net of Cash Acquired			$ 1,800
Goodwill		1,061.9	1,102.8			1,061.9
Indefinite-lived Intangible Assets Acquired			228.4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill		1,033.8	964.6			$ 1,033.8
Finite-lived Intangible Assets Acquired			$ 805.4
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			21 years
Pentair Residential Filtration [Member]
Other acquisitions
Percentage Of Ownership Interest Acquired	19.90%
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests					$ 134.3
Percentage of ownership interests before acquisition	80.10%
Canada, Dollars
Other acquisitions
Payments to Acquire Businesses, Net of Cash Acquired		$ 1.2		$ 120.5

Acquisitions - Pro Forma Consol

Acquisitions - Pro Forma Consolidated FInancial Results of Operations (Detail) - ERICO Global Company [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Pro forma net sales	$ 6,835.2	$ 7,596
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax	$ (1.6)	$ 609.2
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax, Per Share, Basic	$ (0.01)	$ 3.20
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations before Changes in Accounting and Extraordinary Items, Net of Tax, Per Share, Diluted	$ (0.01)	$ 3.15

Acquisitions - Estimated Fair V

Acquisitions - Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 26, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Goodwill		$ 5,255.4	$ 4,741.9	$ 4,860.7
ERICO Global Company [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	$ 11.6	11.8
Business Combination, Acquired Receivables, Fair Value	76.7	75.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Inventory	99	102.4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other	9.5	2.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment	27	53.4
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill	964.6	1,033.8
Goodwill	1,102.8	1,061.9
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Liabilities	96	97.2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Deferred Tax Liabilities Noncurrent	373	418.8
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Other	4.1	8
Business Combination, Consideration Transferred	$ 1,818.1	$ 1,818.1

Discontinued Operations and D52

Discontinued Operations and Divestitures Components of Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended									12 Months Ended
	Dec. 31, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 28, 2015	Dec. 31, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 29, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal Group, Including Discontinued Operation, Revenue										$ 18.6	$ 295.8	$ 490.1
Disposal Group, Including Discontinued Operation, Costs of Goods Sold										18.1	250.2	387.4
Disposal Group, Including Discontinued Operation, Gross Profit (Loss)										0.5	45.6	102.7
Disposal Group, Including Discontinued Operation, Other Assets, Current	$ 0				$ 14.7					0	14.7
Disposal Group, Including Discontinued Operation, Inventory	0				30.1					0	30.1
Disposal Group, Including Discontinued Operation, Accounts, Notes and Loans Receivable, Net	0				28.8					0	28.8
Disposal Group, Including Discontinued Operation, Assets, Current	0				80.6					0	80.6
Disposal Group, Including Discontinued Operation, Property, Plant and Equipment	0				18.5					0	18.5
Disposal Group, Including Discontinued Operation, Other Assets, Noncurrent	0				6.4					0	6.4
Disposal Group, Including Discontinued Operation, Accounts Payable, Current	0				12.2					0	12.2
Disposal Group, Including Discontinued Operation, Employee Compensation and Benefits	0				11.3					0	11.3
Disposal Group, Including Discontinued Operation, Assets, Noncurrent	0				24.9					0	24.9
Disposal Group, Including Discontinued Operation, Other Liabilities, Current	0				11.6					0	11.6
Disposal Group, Including Discontinued Operation, Pension Plan Benefit Obligation	0				2.5					0	2.5
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent	0				6.5					0	6.5
Disposal Group, Including Discontinued Operation, Long Term Debt	0				4					0	4
Disposal Group, Including Discontinued Operation, Liabilities, Current	0				35.1					0	35.1
Disposal Group, Including Discontinued Operation, Cash and Cash Equivalents	0				7					0	7
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax										(7.1)	1.5	33
Discontinued Operation, Tax Effect of Discontinued Operation										2.4	(7.9)	(7.1)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent										(4.7)	(6.4)	25.9
Discontinued Operation, Provision for Loss (Gain) on Disposal, before Income Tax										(6.7)	(400.4)	(1.1)
Discontinued Operation, Tax (Expense) Benefit from Provision for (Gain) Loss on Disposal						$ 12.3		$ 2.4	$ 0.3	0	14.7	0.3
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax	$ 1.9	$ 0	$ (4.8)	$ 0	$ 0	$ (380.1)	$ 0	$ (5.6)		$ (6.7)	$ (385.7)	$ (0.8)

Discontinued Operations and D53

Discontinued Operations and Divestitures Additional Information (Details) - USD ($) $ in Millions	3 Months Ended									12 Months Ended
	Dec. 31, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 28, 2015	Dec. 31, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 29, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Proceeds from Divestiture of Businesses										$ 0	$ 0.3	$ 43.5
Discontinued Operation, Tax (Expense) Benefit from Provision for (Gain) Loss on Disposal						$ 12.3		$ 2.4	$ 0.3	0	14.7	0.3
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax								(5.6)	$ (0.8)
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax	$ 1.9	$ 0	$ (4.8)	$ 0	$ 0	$ (380.1)	$ 0	$ (5.6)		(6.7)	(385.7)	(0.8)
Gain (Loss) on Disposition of Business										(3.2)	$ (0.2)	20.8
Technical Solutions [Member]
Business Acquisition [Line Items]
Proceeds from Divestiture of Businesses												30.1
Gain (Loss) on Disposition of Business												16.8
Goodwill, Written off Related to Sale of Business Unit												5.3
Flow Technologies [Member]
Business Acquisition [Line Items]
Proceeds from Divestiture of Businesses												13.4
Gain (Loss) on Disposition of Business												4
Goodwill, Written off Related to Sale of Business Unit												$ 5.7
Discontinued Operations, Disposed of by Sale [Member]
Business Acquisition [Line Items]
Proceeds from Divestiture of Businesses										$ 59

Earnings (Loss) Per Share - Add

Earnings (Loss) Per Share - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended																12 Months Ended
	Dec. 31, 2015		Sep. 26, 2015		Jun. 27, 2015		Mar. 28, 2015		Dec. 31, 2014		Sep. 27, 2014		Jun. 28, 2014		Mar. 29, 2014		Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Computation Of Earnings Per Share Line Items
Net income (loss) attributable to Pentair plc	$ (453.3)		$ 115.2		$ 147.8		$ 113.9		$ 120.8		$ (186)		$ 161.5		$ 118.6		$ (76.4)		$ 214.9		$ 536.8
Income (Loss) from Continuing Operations Attributable to Pentair plc																	$ (65)		$ 607		$ 511.7
Weighted average common shares outstanding
Basic (shares)																	180.3		190.6		201.1
Dilutive impact of stock options and restricted stock awards (shares)																	2.3		3.1		3.5
Diluted (shares)																	182.6		193.7		204.6
Earnings (loss) per ordinary share attributable to Pentair plc
Income (Loss) from Continuing Operations, Per Basic Share	$ (2.51)		$ 0.64		$ 0.85		$ 0.66		$ 0.71		$ 1.01		$ 0.82		$ 0.64		$ (0.36)		$ 3.19		$ 2.54
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	(0.01)		0		(0.03)		(0.03)		(0.05)		(1.99)		0.02		(0.04)		(0.06)		(2.06)		0.13
Basic earnings (loss) per common share (USD per share)	(2.52)	[1]	0.64	[1]	0.82	[1]	0.63	[1]	0.66	[1]	(0.98)	[1]	0.84	[1]	0.60	[1]	(0.42)	[1]	1.13	[1]	2.67
Income (Loss) from Continuing Operations, Per Diluted Share	(2.51)		0.63		0.84		0.65		0.70		1		0.81		0.63		(0.36)		3.14		2.50
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	(0.01)		0		(0.03)		(0.03)		(0.05)		(1.95)		0.01		(0.04)		(0.06)		(2.03)		0.12
Diluted earnings (loss) per common share (USD per share)	$ (2.52)	[1]	$ 0.63	[1]	$ 0.81	[1]	$ 0.62	[1]	$ 0.65	[1]	$ (0.95)	[1]	$ 0.82	[1]	$ 0.59	[1]	$ (0.42)	[1]	$ 1.11	[1]	$ 2.62
Anti-dilutive stock options excluded from the calculation of diluted earnings per share																	1.3		0.5		0.2
[1]	Amounts may not total to annual earnings because each quarter and year are calculated separately based on basic and diluted weighted-average ordinary shares outstanding during that period

Restructuring - Additional Info

Restructuring - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)Person	Dec. 31, 2014USD ($)Person	Dec. 31, 2013USD ($)Person
Restructuring Cost and Reserve [Line Items]
Number of employees | Person	3,000	1,150	1,100
Restructuring costs | $	$ 117.8	$ 88.3	$ 103.2
Valves And Controls [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees | Person	2,500	600	500
Restructuring costs | $	$ 76.5	$ 48.8	$ 51
Flow & Filtration Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees | Person	200	350	250
Restructuring costs | $	$ 11.2	$ 14	$ 17.8
Water Quality Systems [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees | Person	100	50	50
Restructuring costs | $	$ 6.2	$ 15.2	$ 5
Technical Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees | Person	200	150	300
Restructuring costs | $	$ 15.7	$ 4.3	$ 19.4

Restructuring - Costs Included

Restructuring - Costs Included in Selling, General & Administrative expenses on Consolidated Statements of Income (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 117.8	$ 88.3	$ 103.2
Severance and related costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs	96.7	58.9	81.5
Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 21.1	$ 29.4	$ 21.7

Restructuring - Accrual Activit

Restructuring - Accrual Activity recorded on Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Restructuring Reserve [Roll Forward]
Beginning balance	$ 73.4	$ 68.6
Costs incurred	96.7	58.9
Cash payments and other	(78.9)	(54.1)
Ending balance	$ 91.2	$ 73.4

Restructuring - Restructuring C

Restructuring - Restructuring Costs by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 117.8	$ 88.3	$ 103.2
Valves And Controls [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	76.5	48.8	51
Flow & Filtration Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	11.2	14	17.8
Water Quality Systems [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	6.2	15.2	5
Technical Solutions [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	15.7	4.3	19.4
Corporate and Other [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Charges	$ 8.2	$ 6	$ 10

Goodwill and Other Identifiab59

Goodwill and Other Identifiable Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Amortization and Impairment
Goodwill, Impairment Loss	$ 515.2
Accumulated goodwill impairment losses	715.7	$ 200.5
Amortization	121.4	114	$ 134.1
Impairment charges, related to trade names		$ 0
Valves And Controls [Member]
Amortization and Impairment
Goodwill, Impairment Loss	515.2
Impairment charges, related to trade names	39.5
Technical Solutions
Amortization and Impairment
Goodwill, Impairment Loss	$ 0
Impairment charges, related to trade names			$ 11

Goodwill and Other Identifiab60

Goodwill and Other Identifiable Intangible Assets - Changes in Carrying Amount of Goodwill by Segment (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 27, 2015	Dec. 31, 2015	Dec. 31, 2014
Goodwill [Roll Forward]
Beginning Balance		$ 4,741.9	$ 4,860.7
Acquisitions/ divestitures	$ 43.2	1,116.4	6.8
Goodwill, Impairment Loss		(515.2)
Foreign currency translation/other		(87.7)	(125.6)
Ending Balance		5,255.4	4,741.9
Valves And Controls [Member]
Goodwill [Roll Forward]
Beginning Balance		1,511.6	1,511.6
Acquisitions/ divestitures		0	0
Goodwill, Impairment Loss		(515.2)
Foreign currency translation/other		0	0
Ending Balance		996.4	1,511.6
Flow & Filtration Solutions [Member]
Goodwill [Roll Forward]
Beginning Balance		942.4	1,036.4
Acquisitions/ divestitures		0	0
Goodwill, Impairment Loss		0
Foreign currency translation/other		(59.7)	(94)
Ending Balance		882.7	942.4
Water Quality Systems [Member]
Goodwill [Roll Forward]
Beginning Balance		1,137.6	1,154.7
Acquisitions/ divestitures		0	6.8
Goodwill, Impairment Loss		0
Foreign currency translation/other		(16.5)	(23.9)
Ending Balance		1,121.1	1,137.6
Technical Solutions
Goodwill [Roll Forward]
Beginning Balance		1,150.3	1,158
Acquisitions/ divestitures		1,116.4	0
Goodwill, Impairment Loss		0
Foreign currency translation/other		(11.5)	(7.7)
Ending Balance		$ 2,255.2	$ 1,150.3

Goodwill and Other Identifiab61

Goodwill and Other Identifiable Intangible Assets - Identifiable Intangible Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Acquired Intangible Assets by Major Class [Line Items]
Finite-life intangibles, cost	$ 2,329.8	$ 1,505.5
Accumulated amortization	(531.2)	(423)
Finite-life intangibles, net	1,798.6	1,082.5
Indefinite-life intangibles	691.5	525.6
Total intangibles, cost	3,021.3	2,031.1
Total intangibles, net	2,490.1	1,608.1
Customer relationships
Acquired Intangible Assets by Major Class [Line Items]
Finite-life intangibles, cost	2,078.7	1,247.8
Accumulated amortization	(415.8)	(325.2)
Finite-life intangibles, net	1,662.9	922.6
Trade names
Acquired Intangible Assets by Major Class [Line Items]
Finite-life intangibles, cost	1.8	2
Accumulated amortization	(1.2)	(1.1)
Finite-life intangibles, net	0.6	0.9
Proprietary technology and patents
Acquired Intangible Assets by Major Class [Line Items]
Finite-life intangibles, cost	249.3	255.7
Accumulated amortization	(114.2)	(96.7)
Finite-life intangibles, net	$ 135.1	$ 159

Goodwill and Other Identifiab62

Goodwill and Other Identifiable Intangible Assets - Estimated Future Amortization Expense for Identifiable Intangible Assets (Detail) $ in Millions	Dec. 31, 2015USD ($)
Expected Amortization Expense
Estimated amortization expense 2016	$ 149.5
Estimated amortization expense 2017	148
Estimated amortization expense 2018	145.6
Estimated amortization expense 2019	138.8
Estimated amortization expense 2020	$ 133.7

Supplemental Balance Sheet In63

Supplemental Balance Sheet Information (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Inventories
Raw materials and supplies	$ 433	$ 460.1
Work-in-process	249.2	229
Finished goods	492.1	441.3
Total inventories	1,174.3	1,130.4
Other current assets
Cost in excess of billings	114.4	103.5
Prepaid expenses	87.6	109.6
Deferred income taxes	96.7	139.4
Other current assets	13.6	14.3
Total other current assets	312.3	366.8
Property, plant and equipment, net
Land and land improvements	161.9	165.1
Buildings and leasehold improvements	518.8	493.5
Machinery and equipment	1,287.6	1,169.1
Construction in progress	79.3	71
Total property, plant and equipment	2,047.6	1,898.7
Accumulated depreciation and amortization	1,104.8	948.7
Total property, plant and equipment, net	942.8	950	$ 1,044.3
Other non-current assets
Asbestos-related insurance receivable	111	115.8
Deferred income taxes	62.8	87.9
Other non-current assets	214.3	232.5
Total other non-current assets	388.1	436.2
Other current liabilities
Deferred revenue and customer deposits	94.6	112.7
Dividends payable	59.6	116.8
Billings in excess of cost	32	41.4
Accrued warranty	59.8	66.4
Other current liabilities	398.1	371.8
Total other current liabilities	644.1	709.1
Other non-current liabilities
Asbestos-related liabilities	237.9	249.1
Taxes payable	71.1	61.6
Other non-current liabilities	212	187
Total other non-current liabilities	$ 521	$ 497.7

Supplemental Cash Flow Inform64

Supplemental Cash Flow Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Schedule of Cash Flow, Supplemental [Line Items]
Cash paid for interest, net	$ 76.9	$ 67.5	$ 69.4
Cash paid for income taxes, net	$ 182.8	$ 134.2	$ 91.2

Accumulated Other Comprehensi65

Accumulated Other Comprehensive Income (Loss) - Components of AOCI (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Accumulated Other Comprehensive Income (Loss) [Line Items]
Cumulative translation adjustments	$ (635.9)	$ (371)
Market value of derivative financial instruments, net of tax	(9.1)	(9.3)
Accumulated other comprehensive income (loss)	$ (645)	$ (380.3)

Debt - Additional Information (

Debt - Additional Information (Detail) € in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2013USD ($)	Sep. 26, 2015USD ($)	Sep. 26, 2015EUR (€)	Sep. 02, 2015USD ($)	Dec. 31, 2014USD ($)	Oct. 03, 2014USD ($)
Debt Disclosure [Line Items]
Debt transaction cost paid		$ 0
Commercial paper outstanding	$ 179.5					$ 987.6
Compliance with debt agreement financial covenants	we were in compliance with all financial covenants in our debt agreements.
Future minimum lease payments	$ 0.8
Imputed interest	0.1
Debt, Long-term and Short-term, Combined Amount	4,710					3,004.1
CPT
Debt Disclosure [Line Items]
Capital lease obligation cost	14.7					19.5
Accumulated amortization	2.9					2.4
Other Credit Facilities
Debt Disclosure [Line Items]
Credit facility maximum borrowing capacity	50.6
Line of credit facility, amount outstanding	$ 0
Minimum
Debt Disclosure [Line Items]
Debt agreement financial covenant, leverage ratio	3.50
Maximum
Debt Disclosure [Line Items]
Cost and expenses incurred in connection with acquisition	$ 25
Debt agreement financial covenant, leverage ratio	3
Senior Notes, 5.000% Due 2021 | Senior Notes
Debt Disclosure [Line Items]
Debt, Weighted Average Interest Rate	5.00%
Debt, Long-term and Short-term, Combined Amount	$ 500					500
Senior Notes 1.350% due 2015 | Senior Notes
Debt Disclosure [Line Items]
Debt, Weighted Average Interest Rate	1.35%
Debt, Long-term and Short-term, Combined Amount	$ 0					350
Senior Notes 2.650% due 2019 | Senior Notes
Debt Disclosure [Line Items]
Debt, Weighted Average Interest Rate	2.65%
Debt, Long-term and Short-term, Combined Amount	$ 250					250
Senior Notes 3.150% due 2022 | Senior Notes
Debt Disclosure [Line Items]
Debt, Weighted Average Interest Rate	3.15%
Debt, Long-term and Short-term, Combined Amount	$ 550					550
Senior Notes 1.875 % due 2017 | Senior Notes
Debt Disclosure [Line Items]
Debt, Weighted Average Interest Rate	1.875%
Debt, Long-term and Short-term, Combined Amount	$ 350					350
Senior Notes Two Point Nine Percent Due Twenty Eighteen [Member] | Senior Notes
Debt Disclosure [Line Items]
Debt, Weighted Average Interest Rate	2.90%		2.90%	2.90%
Debt, Long-term and Short-term, Combined Amount	$ 500		$ 500			0
Senior Notes Three Point Six Two Five Percent Due Twenty Twenty [Member] | Senior Notes
Debt Disclosure [Line Items]
Debt, Weighted Average Interest Rate	3.625%		3.625%	3.625%
Debt, Long-term and Short-term, Combined Amount	$ 400		$ 400			0
Senior Notes Four Point Six Five Percent Due Twenty Twenty Five [Member] | Senior Notes
Debt Disclosure [Line Items]
Debt, Weighted Average Interest Rate	4.65%		4.65%	4.65%
Debt, Long-term and Short-term, Combined Amount	$ 250		$ 250			0
Senior Notes Two Point Four Five Percent Due Twenty Nineteen [Member] | Senior Notes
Debt Disclosure [Line Items]
Debt, Weighted Average Interest Rate	2.45%		2.45%	2.45%
Debt, Long-term and Short-term, Combined Amount	$ 548.4			€ 500		$ 0
Subsidiary Issuer
Debt Disclosure [Line Items]
Ownership percentage	100.00%
Debt transaction cost paid		$ 0
Subsidiary Issuer | Senior Notes, 5.000% Due 2021
Debt Disclosure [Line Items]
Debt, interest rate			5.00%	5.00%
Subsidiary Issuer | Senior Notes 1.350% due 2015
Debt Disclosure [Line Items]
Debt, interest rate			1.35%	1.35%
Subsidiary Issuer | Senior Notes One Point Eight Seven Five Percent Due Twenty Seventeen [Member]
Debt Disclosure [Line Items]
Debt, interest rate			1.875%	1.875%
Subsidiary Issuer | Senior Notes 2.650% due 2019
Debt Disclosure [Line Items]
Debt, interest rate			2.65%	2.65%
Subsidiary Issuer | Senior Notes 3.150% due 2022
Debt Disclosure [Line Items]
Debt, interest rate			3.15%	3.15%
Pentair, Inc [Member] | Senior Notes, 5.000% Due 2021
Debt Disclosure [Line Items]
Aggregate principal amount			$ 127
Pentair Finance S.A. [Member] | Senior Notes, 5.000% Due 2021
Debt Disclosure [Line Items]
Aggregate principal amount			$ 373
Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Remaining availability under Credit Facility	$ 1,139.1
Credit facility maximum borrowing capacity					$ 2,500		$ 2,100
Revolving Credit Facility [Member] | Maximum
Debt Disclosure [Line Items]
Remaining availability under Credit Facility	$ 640.6

Debt - Debt Outstanding and Ave

Debt - Debt Outstanding and Average Interest Rates (Detail) € in Millions, $ in Millions	Dec. 31, 2015USD ($)	Sep. 26, 2015USD ($)	Sep. 26, 2015EUR (€)	Dec. 31, 2014USD ($)
Debt Disclosure [Line Items]
Total debt	$ 4,710			$ 3,004.1
Less: Current maturities and short-term borrowings	(0.7)			(6.7)
Long-term debt	$ 4,709.3			2,997.4
Commercial Paper
Debt Disclosure [Line Items]
Debt, average interest rate	1.308%
Total debt	$ 179.5			987.6
Capital Lease Obligations
Debt Disclosure [Line Items]
Debt, average interest rate	4.67%
Total debt	$ 0.7			6.7
Long Term Revolving Credit Facility [Member]
Debt Disclosure [Line Items]
Debt, average interest rate	1.581%
Total debt	$ 1,181.4			9.8
Senior Notes 1.350% due 2015 | Senior Notes
Debt Disclosure [Line Items]
Debt, average interest rate	1.35%
Total debt	$ 0			350
Senior Notes 1.875 % due 2017 | Senior Notes
Debt Disclosure [Line Items]
Debt, average interest rate	1.875%
Total debt	$ 350			350
Senior Notes Two Point Nine Percent Due Twenty Eighteen [Member] | Senior Notes
Debt Disclosure [Line Items]
Debt, average interest rate	2.90%	2.90%	2.90%
Total debt	$ 500	$ 500		0
Senior Notes 2.650% due 2019 | Senior Notes
Debt Disclosure [Line Items]
Debt, average interest rate	2.65%
Total debt	$ 250			250
Senior Notes Two Point Four Five Percent Due Twenty Nineteen [Member] | Senior Notes
Debt Disclosure [Line Items]
Debt, average interest rate	2.45%	2.45%	2.45%
Total debt	$ 548.4		€ 500	0
Senior Notes Three Point Six Two Five Percent Due Twenty Twenty [Member] | Senior Notes
Debt Disclosure [Line Items]
Debt, average interest rate	3.625%	3.625%	3.625%
Total debt	$ 400	$ 400		0
Senior Notes, 5.000% Due 2021 | Senior Notes
Debt Disclosure [Line Items]
Debt, average interest rate	5.00%
Total debt	$ 500			500
Senior Notes 3.150% due 2022 | Senior Notes
Debt Disclosure [Line Items]
Debt, average interest rate	3.15%
Total debt	$ 550			550
Senior Notes Four Point Six Five Percent Due Twenty Twenty Five [Member] | Senior Notes
Debt Disclosure [Line Items]
Debt, average interest rate	4.65%	4.65%	4.65%
Total debt	$ 250	$ 250		$ 0

Debt - Debt Outstanding Amounts

Debt - Debt Outstanding Amounts Maturing (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Debt Disclosure [Line Items]
Debt outstanding maturities 2016	$ 0.7
Debt outstanding maturities 2017	350
Debt outstanding maturities 2018	500
Debt outstanding maturities 2019	2,159.3
Debt outstanding maturities 2020	400
Debt outstanding maturities Thereafter	1,300
Total debt	4,710	$ 3,004.1
Contractual Maturity
Debt Disclosure [Line Items]
Debt outstanding maturities 2016	0
Debt outstanding maturities 2017	350
Debt outstanding maturities 2018	500
Debt outstanding maturities 2019	2,159.3
Debt outstanding maturities 2020	400
Debt outstanding maturities Thereafter	1,300
Total debt	4,709.3
Capital Lease Obligations
Debt Disclosure [Line Items]
Debt outstanding maturities 2016	0.7
Debt outstanding maturities 2017	0
Debt outstanding maturities 2018	0
Debt outstanding maturities 2019	0
Debt outstanding maturities 2020	0
Debt outstanding maturities Thereafter	0
Total debt	$ 0.7	$ 6.7

Derivatives and Financial Ins69

Derivatives and Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 28, 2015	Dec. 31, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 29, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Goodwill, Impairment Loss									$ 515.2
Impairment of Intangible Assets (Excluding Goodwill)										$ 0
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax	$ 1.9	$ 0	$ (4.8)	$ 0	$ 0	$ (380.1)	$ 0	$ (5.6)	$ (6.7)	(385.7)	$ (0.8)
Description of Net Investment Hedge Activity									we designated the €500 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
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax									$ 16.4
Cross Currency Interest Rate Contract [Member]
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative Liability, Notional Amount	$ 331.5				$ 250.8				331.5	$ 250.8
Valves And Controls [Member]
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Goodwill, Impairment Loss									515.2
Impairment of Intangible Assets (Excluding Goodwill)									$ 39.5

Derivatives and Financial Ins70

Derivatives and Financial Instruments - Recorded Amounts and Estimated Fair Values of Long-term Debt and Derivative Financial Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Derivative [Line Items]
Total debt	$ 4,710	$ 3,004.1
Carrying (Reported) Amount, Fair Value Disclosure
Derivative [Line Items]
Variable rate debt	1,360.9	997.4
Fixed rate debt	3,349.1	2,006.7
Total debt	4,710	3,004.1
Estimate of Fair Value, Fair Value Disclosure
Derivative [Line Items]
Variable rate debt	1,360.9	997.4
Fixed rate debt	3,395.4	2,070.4
Total debt	$ 4,756.3	$ 3,067.8

Derivatives and Financial Ins71

Derivatives and Financial Instruments - Assets and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Millions		3 Months Ended									12 Months Ended
		Dec. 31, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 28, 2015	Dec. 31, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 29, 2014	Dec. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax		$ (1.9)	$ 0	$ 4.8	$ 0	$ 0	$ 380.1	$ 0	$ 5.6		$ 6.7	$ 385.7	$ 0.8
Goodwill		5,255.4				4,741.9				$ 4,860.7	5,255.4	4,741.9	4,860.7
Discontinued Operation, Tax (Expense) Benefit from Provision for (Gain) Loss on Disposal							$ 12.3		$ 2.4	$ 0.3	0	14.7	$ 0.3
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract assets		0.1				0.9					0.1	0.9
Foreign currency contract liabilities		(7.6)				(6.6)					(7.6)	(6.6)
Deferred compensation plan assets	[1]	50.8				55.3					50.8	55.3
Total recurring fair value measurements		43.3				49.6					43.3	49.6
Goodwill		996.4									996.4
Indefinite-Lived Trade Names		138.1									138.1
Assets, Fair Value Disclosure, Nonrecurring		1,134.5									1,134.5
Fair Value, Inputs, Level 1 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract assets		0				0					0	0
Foreign currency contract liabilities		0				0					0	0
Deferred compensation plan assets	[1]	43.8				47.9					43.8	47.9
Total recurring fair value measurements		43.8				47.9					43.8	47.9
Goodwill		0									0
Indefinite-Lived Trade Names		0									0
Assets, Fair Value Disclosure, Nonrecurring		0									0
Fair Value, Inputs, Level 2 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract assets		0.1				0.9					0.1	0.9
Foreign currency contract liabilities		(7.6)				(6.6)					(7.6)	(6.6)
Deferred compensation plan assets	[1]	7				7.4					7	7.4
Total recurring fair value measurements		(0.5)				1.7					(0.5)	1.7
Goodwill		0									0
Indefinite-Lived Trade Names		0									0
Assets, Fair Value Disclosure, Nonrecurring		0									0
Fair Value, Inputs, Level 3 | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract assets		0				0					0	0
Foreign currency contract liabilities		0				0					0	0
Deferred compensation plan assets	[1]	0				0					0	0
Total recurring fair value measurements		0				$ 0					0	$ 0
Goodwill		996.4									996.4
Indefinite-Lived Trade Names		138.1									138.1
Assets, Fair Value Disclosure, Nonrecurring		$ 1,134.5									$ 1,134.5
[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 - Income (Loss) Be

Income Taxes - Income (Loss) Before Income Taxes and Noncontrolling Interest (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Taxes [Line Items]
Federal	[1]	$ (23.7)	$ 13.3	$ 328.7
International		97.8	771	365.8
Income from continuing operations before income taxes and noncontrolling interest		$ 74.1	$ 784.3	$ 694.5
[1]	As a result of the Redomicile, "Federal" reflects income from continuing operations before income taxes and noncontrolling interest for the U.K. in 2015 and 2014 and for Switzerland in 2013.

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Currently payable
Federal	[1]	$ 0	$ (0.4)	$ 17.4
International	[2]	136.1	175.7	105.6
Total current taxes		136.1	175.3	123
Deferred
Federal	[1]	0.9	2.2	18.9
International	[2]	2.1	(0.2)	35.1
Total deferred taxes		3	2	54
Total provision (benefit) for income taxes		$ 139.1	$ 177.3	$ 177
[1]	As a result of the Redomicile, "Federal" represents U.K. taxes for 2015 and 2014 and Swiss taxes for 2013.
[2]	As a result of the Redomicile, "International" represents non-U.K. taxes for 2015 and 2014 and non-Swiss taxes for 2013

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate (Detail)		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Taxes [Line Items]
Federal statutory income tax rate	[1]	20.30%	21.00%	7.80%
Tax effect of international operations	[2]	(74.50%)	(4.90%)	10.40%
Change in valuation allowances		81.60%	3.40%	5.70%
Withholding taxes		7.30%	2.30%	1.10%
Interest limitations		8.80%	0.80%	0.50%
Non-deductible transaction costs		3.40%	0.00%	0.00%
Non-deductible goodwill impairment		140.80%	0.00%	0.00%
Effective tax rate		187.70%	22.60%	25.50%
[1]	The statutory rate for 2015 and 2014 reflects the U.K. statutory rate of 20.25 percent and 21 percent, respectively. For 2013, the statutory rate reflects the Swiss statutory rate of 7.8 percent.
[2]	The tax effect of international operations for 2015 and 2014 consists of non-U.K. jurisdictions. For 2013, the tax effect of international operations consists of non-Swiss jurisdictions.

Income Taxes - Reconciliation75

Income Taxes - Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate Additional Information (Detail)		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Taxes [Line Items]
Federal statutory income tax rate	[1]	20.30%	21.00%	7.80%
UNITED KINGDOM
Income Taxes [Line Items]
Federal statutory income tax rate		20.00%	21.00%
SWITZERLAND
Income Taxes [Line Items]
Federal statutory income tax rate				7.80%
[1]	The statutory rate for 2015 and 2014 reflects the U.K. statutory rate of 20.25 percent and 21 percent, respectively. For 2013, the statutory rate reflects the Swiss statutory rate of 7.8 percent.

Income Taxes - Reconciliations

Income Taxes - Reconciliations of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 62.1	$ 60.8	$ 53.4
Gross increases for tax positions in prior periods	5.2	2.3	12.2
Gross decreases for tax positions in prior periods	(3.4)	(0.5)	(0.6)
Gross increases based on tax positions related to the current year	6.2	1.8	2.7
Gross decreases related to settlements with taxing authorities	(1.9)	(0.1)	(5.1)
Reductions due to statute expiration	(1.5)	(1.2)	(1.8)
Unrecognized Tax Benefits, Decrease Resulting from Foreign Currency Translation	(3.4)	(1)	0
Gross increases due to acquisitions	6.6	0	0
Ending balance	$ 69.9	$ 62.1	$ 60.8

Income Taxes - Deferred Taxes (

Income Taxes - Deferred Taxes (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Income Taxes [Line Items]
Other current assets	$ 96.7	$ 139.4
Other non-current assets	62.8	87.9
Deferred tax liabilities	844.2	528.3
Total deferred tax liabilities	$ 684.7	$ 301

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets
Accrued liabilities and reserves	$ 168.7	$ 200.3
Pension and other post-retirement benefits	53.2	68.4
Employee compensation & benefits	102.7	100
Tax loss and credit carryforwards	392.8	291.9
Total deferred tax assets	717.4	660.6
Valuation allowance	362.5	235.8
Deferred tax assets, net of valuation allowance	354.9	424.8
Deferred tax liabilities
Property, plant and equipment	58.1	51.6
Goodwill and other intangibles	942.4	645.6
Other liabilities	39.1	28.6
Deferred Tax Liabilities, Gross	1,039.6	725.8
Total deferred tax liabilities	$ 684.7	$ 301

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	[1]	20.30%	21.00%	7.80%
Gross unrecognized tax benefits		$ 69.9	$ 62.1	$ 60.8	$ 53.4
Amount of tax benefits that, if recognized, would impact the effective tax rate		66.2
Payment of penalties		2.6	1.2
Payment of interest expense		10.8	9.8
Deferred taxes on undistributed earnings of certain subsidiaries		11.1
Tax loss carryforwards		1,419.6
Deferred tax assets, valuation allowance		362.5	$ 235.8
Non-U.S. tax losses available for carry forward		1,339.6
U.S. federal loss available for carry forward		0
State tax losses available for carry forward		$ 80
Shared tax liabilities description		Costs and expenses associated with the management of Shared Tax Liabilities will generally be shared 20% by us, 27.5% by ADT and 52.5% by Tyco
Minimum
Income Taxes [Line Items]
Possible amount of decrease during the next twelve months primarily as a result of the resolution of federal, state and foreign examinations and the expiration of various statutes of limitations		$ 0
Maximum
Income Taxes [Line Items]
Possible amount of decrease during the next twelve months primarily as a result of the resolution of federal, state and foreign examinations and the expiration of various statutes of limitations		$ 32.6
Operating loss carryforwards expiration year		2,035
2012 Tax Sharing Agreement
Income Taxes [Line Items]
Shared tax liabilities description		Tyco is responsible for the first $500 million of Shared Tax Liabilities. As of December 31, 2015, Tyco has paid $63.0 million of Shared Tax Liabilities. We and ADT will share 42% and 58% , respectively, of the next $225 million of Shared Tax Liabilities. We, ADT and Tyco will share 20% , 27.5% and 52.5% , respectively, of Shared Tax Liabilities above $725 million .
Foreign Country
Income Taxes [Line Items]
Deferred tax assets, valuation allowance		$ 326
ADT
Income Taxes [Line Items]
Percentage of shared tax liabilities		27.50%
Adt Corporation and Pentair
Income Taxes [Line Items]
Tax sharing, liability		$ 225
Tyco
Income Taxes [Line Items]
Tax sharing, liability		500
Tax Sharing, Liability, Paid		$ 63
Percentage of shared tax liabilities		52.50%
Pentair [Member]
Income Taxes [Line Items]
Percentage of shared tax liabilities		20.00%
Pentair ADT Tyco
Income Taxes [Line Items]
Tax sharing, liability		$ 725
Tax Liability | Tyco
Income Taxes [Line Items]
Tax sharing, liability		883.3
Tax Penalties | Tyco
Income Taxes [Line Items]
Tax sharing, liability		154
Period One | Tyco
Income Taxes [Line Items]
Disallowed interest and related tax deductions		2,900
Period Two | Tyco
Income Taxes [Line Items]
Disallowed interest and related tax deductions		$ 6,600
Group One [Member] | 2012 Tax Sharing Agreement
Income Taxes [Line Items]
Percentage of shared tax liabilities		42.00%
Group One [Member] | ADT | 2012 Tax Sharing Agreement
Income Taxes [Line Items]
Percentage of shared tax liabilities		58.00%
Group One [Member] | Tyco | Agreement Two Member [Member]
Income Taxes [Line Items]
Percentage of shared tax liabilities		27.00%
Group One [Member] | Covidien | Agreement Two Member [Member]
Income Taxes [Line Items]
Percentage of shared tax liabilities		42.00%
Group One [Member] | TE Connectivity | Agreement Two Member [Member]
Income Taxes [Line Items]
Percentage of shared tax liabilities		31.00%
Group Two [Member] | 2012 Tax Sharing Agreement
Income Taxes [Line Items]
Percentage of shared tax liabilities		20.00%
Group Two [Member] | ADT | 2012 Tax Sharing Agreement
Income Taxes [Line Items]
Percentage of shared tax liabilities		27.50%
Group Two [Member] | Tyco | 2012 Tax Sharing Agreement
Income Taxes [Line Items]
Percentage of shared tax liabilities		52.50%
UNITED KINGDOM
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		20.00%	21.00%
SWITZERLAND
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent				7.80%
[1]	The statutory rate for 2015 and 2014 reflects the U.K. statutory rate of 20.25 percent and 21 percent, respectively. For 2013, the statutory rate reflects the Swiss statutory rate of 7.8 percent.

Benefit Plans - Additional Info

Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pension and other post-retirement plans
Pension plan contribution	$ 21.2	$ 24.6
Obligations and funded status
Defined accumulated benefit obligation plans	$ 840	$ 887.5
Expected rate of return on plan assets	3.65%	4.56%	3.75%
Pension plan assets yielded returns	(3.20%)	22.30%	(9.90%)
Pension plans assets
Asset allocation	98.00%
Savings plan
401(k) plan description	Under the 401(k) plan, eligible U.S. employees may voluntarily contribute a percentage of their eligible compensation. We match contributions made by employees who meet certain eligibility and service requirements. Our matching contribution is 100% of eligible employee contributions for the first 1% of eligible compensation and 50% of the next 5% of eligible compensation.
Annual eligible compensation percentage	1.50%
Participants are 100% vested in employer match	after 3 years of service.
Other retirement compensation
Other accrued retirement compensation	$ 65.8	$ 70.2
Maximum
Pension plans assets
Expected contribution	40
Minimum
Pension plans assets
Expected contribution	32
U.S. Pension Plans
Pension and other post-retirement plans
Benefits paid	$ 9.1	$ 9.3
Obligations and funded status
Discount rate	4.21%	3.63%	4.51%
Non-US Pension Plans
Pension and other post-retirement plans
Benefits paid	$ 17.9	$ 17.9
Non-US Pension Plans | Maximum
Obligations and funded status
Discount rate	0.50%	0.50%	0.50%
Expected rate of return on plan assets	6.00%	6.40%	6.50%
Non-US Pension Plans | Minimum
Obligations and funded status
Discount rate	4.25%	4.25%	5.00%
Expected rate of return on plan assets	1.00%	1.00%	1.00%
First 1%
Savings plan
Matching contribution to eligible employee contributions	100.00%
Percent of eligible compensation	1.00%
Next 5%
Savings plan
Matching contribution to eligible employee contributions	50.00%
Percent of eligible compensation	5.00%
Flow 401(K) Plan
Savings plan
Matching contribution to eligible employee contributions	500.00%
Percent of eligible compensation	1.00%
Years of service	3 years
Matching contribution to eligible employee contributions	100.00%
401(k) plan and ESOP combined expenese	$ 26.5	$ 21.5	$ 26.8
An Additional 1% Match on Flow 401(K) Plan
Savings plan
Additional matching contribution to eligible employee contributions	1.00%
An Additional 1% Match on Flow 401(K) Plan | Maximum
Savings plan
Years of service	19 years
An Additional 1% Match on Flow 401(K) Plan | Minimum
Savings plan
Years of service	10 years
An Additional 2% Match on Flow 401(K) Plan
Savings plan
Additional matching contribution to eligible employee contributions	2.00%
An Additional 2% Match on Flow 401(K) Plan | Maximum
Savings plan
Years of service	24 years
An Additional 2% Match on Flow 401(K) Plan | Minimum
Savings plan
Years of service	20 years
An Additional 3% Match on Flow 401(K) Plan
Savings plan
Additional matching contribution to eligible employee contributions	3.00%
An Additional 3% Match on Flow 401(K) Plan | Maximum
Savings plan
Years of service	29 years
An Additional 3% Match on Flow 401(K) Plan | Minimum
Savings plan
Years of service	25 years
An Additional 4% Match on Flow 401(K) Plan
Savings plan
Additional matching contribution to eligible employee contributions	4.00%
An Additional 4% Match on Flow 401(K) Plan | Minimum
Savings plan
Years of service	30 years

Benefit Plans - Reconciliations

Benefit Plans - Reconciliations of Benefit Obligations, Fair Value of Plan Assets and Funded Status of Pension Plans and Other Post-Retirement Plans (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Change in plan assets
Fair value of plan assets beginning of year	$ 653.6
Fair value of plan assets end of year	629.4	$ 653.6
U.S. Pension Plans
Change in benefit obligations
Benefit obligation beginning of year	416.2	346.9
Service cost	14	13.1	$ 15.6
Interest cost	14.9	15.4	14.3
Actuarial loss	(39.1)	50.1
Translation (gain) loss	0	0
Benefits paid	(9.1)	(9.3)
Benefit obligation end of year	396.9	416.2	346.9
Change in plan assets
Fair value of plan assets beginning of year	343.9	285.8
Actual return on plan assets	(11.1)	63.7
Company contributions	4	3.7
Translation gain (loss)	0	0
Benefits paid	(9.1)	(9.3)
Fair value of plan assets end of year	327.7	343.9	285.8
Funded status
Plan assets less than benefit obligation	(69.2)	(72.3)
Non-US Pension Plans
Change in benefit obligations
Benefit obligation beginning of year	505.2	462
Service cost	9.6	7.4	8.4
Interest cost	14.2	17.3	17.9
Actuarial loss	(9.5)	73
Translation (gain) loss	(31.6)	(36.6)
Benefits paid	(17.9)	(17.9)
Benefit obligation end of year	470	505.2	462
Change in plan assets
Fair value of plan assets beginning of year	309.7	286.5
Actual return on plan assets	4.2	35.2
Company contributions	17.2	20.9
Translation gain (loss)	(11.5)	(15)
Benefits paid	(17.9)	(17.9)
Fair value of plan assets end of year	301.7	309.7	286.5
Funded status
Plan assets less than benefit obligation	(168.3)	(195.5)
Post-retirement
Change in benefit obligations
Benefit obligation beginning of year	41.5	42.4
Service cost	0.2	0.2	0.3
Interest cost	1.5	1.7	1.9
Actuarial loss	(0.9)	0.3
Translation (gain) loss	0	0
Benefits paid	(3.5)	(3.1)
Benefit obligation end of year	38.8	41.5	42.4
Change in plan assets
Fair value of plan assets beginning of year	0	0
Actual return on plan assets	0	0
Company contributions	3.5	3.1
Translation gain (loss)	0	0
Benefits paid	(3.5)	(3.1)
Fair value of plan assets end of year	0	0	$ 0
Funded status
Plan assets less than benefit obligation	$ (38.8)	$ (41.5)

Benefit Plans - Amounts Recorde

Benefit Plans - Amounts Recorded in Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Non-current liabilities	$ (287.2)	$ (322)
U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Pension and Other Postretirement Defined Benefit Plans, Assets, Noncurrent	0.5	2.7
Current liabilities	(4.1)	(4)
Non-current liabilities	(65.6)	(71)
Benefit obligations in excess of the fair value of plan assets	(69.2)	(72.3)
Non-US Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Pension and Other Postretirement Defined Benefit Plans, Assets, Noncurrent	6.1	6.5
Current liabilities	(4)	(4.7)
Non-current liabilities	(170.4)	(197.3)
Benefit obligations in excess of the fair value of plan assets	(168.3)	(195.5)
Post-retirement
Defined Benefit Plan Disclosure [Line Items]
Pension and Other Postretirement Defined Benefit Plans, Assets, Noncurrent	0	0
Current liabilities	(3.3)	(3.4)
Non-current liabilities	(35.5)	(38.1)
Benefit obligations in excess of the fair value of plan assets	$ (38.8)	$ (41.5)

Benefit Plans - Pension Plans w

Benefit Plans - Pension Plans with Accumulated Benefit Obligation or Projected Benefit Obligation in Excess of Plan Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
U.S. Pension Plans
Pension plans with a projected benefit obligation in excess of plan assets:
Projected benefit obligation	$ 86.4	$ 92.5
Fair value of plan assets	16.6	17.5
Pension plans with an accumulated benefit obligation in excess of plan assets:
Projected benefit obligation	86.4	92.5
Fair value of plan assets	16.6	17.5
Accumulated benefit obligation	82.4	85.1
Non-US Pension Plans
Pension plans with a projected benefit obligation in excess of plan assets:
Projected benefit obligation	430.4	460
Fair value of plan assets	256	258.1
Pension plans with an accumulated benefit obligation in excess of plan assets:
Projected benefit obligation	422.7	453.2
Fair value of plan assets	248.8	252.3
Accumulated benefit obligation	$ 409.8	$ 440.9

Benefit Plans - Components of N

Benefit Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 14	$ 13.1	$ 15.6
Interest cost	14.9	15.4	14.3
Expected return on plan assets	(10)	(10.5)	(9.7)
Amortization of prior year service cost (benefit)	0	0	0.4
Net actuarial (gain) loss	(18)	(3.1)	(18.3)
Net periodic benefit expense (income)	0.9	14.9	2.3
Non-US Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	9.6	7.4	8.4
Interest cost	14.2	17.3	17.9
Expected return on plan assets	(15.6)	(15.9)	(15.2)
Amortization of prior year service cost (benefit)	0	0	(0.2)
Net actuarial (gain) loss	(0.8)	50.3	(30)
Net periodic benefit expense (income)	7.4	59.1	(19.1)
Post-retirement
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.2	0.2	0.3
Interest cost	1.5	1.7	1.9
Amortization of prior year service cost (benefit)	0	0	(0.8)
Net actuarial (gain) loss	(0.9)	0.3	(15.9)
Net periodic benefit expense (income)	$ 0.8	$ 2.2	$ (14.5)

Benefit Plans - Weighted-Averag

Benefit Plans - Weighted-Average Assumptions Used to Determine Domestic Benefit Obligations (Detail) - Defined Benefit Plan Benefit Obligations	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.21%	3.63%	4.51%
Rate of compensation increase	4.00%	4.00%	4.00%
Non-US Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.20%	3.04%	4.13%
Rate of compensation increase	2.87%	2.95%	3.02%
Post-retirement
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.95%	3.60%	4.35%
Rate of compensation increase	0.00%	0.00%	0.00%

Benefit Plans - Weighted-Aver86

Benefit Plans - Weighted-Average Assumptions Used (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.21%	3.63%	4.51%
Net Periodic Benefit Costs | U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.63%	4.51%	3.67%
Expected long-term return on plan assets	3.65%	4.56%	3.75%
Rate of compensation increase	4.00%	4.00%	4.37%
Net Periodic Benefit Costs | Non-US Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.04%	4.13%	3.85%
Expected long-term return on plan assets	5.32%	5.95%	5.98%
Rate of compensation increase	2.95%	3.02%	3.02%
Net Periodic Benefit Costs | Post-retirement
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.60%	4.35%	3.40%
Expected long-term return on plan assets	0.00%	0.00%	0.00%
Rate of compensation increase	0.00%	0.00%	0.00%

Benefit Plans - Assumed Health

Benefit Plans - Assumed Health Care Cost Trend Rates (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Healthcare cost trend rate assumed for following year	7.40%	6.80%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate)	4.40%	4.50%
Year the cost trend rate reaches the ultimate trend rate	2,038	2,027

Benefit Plans - Effect of One-P

Benefit Plans - Effect of One-Percentage-Point Change in Assumed Healthcare Cost Trend Rates (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)
Defined Benefit Plan Disclosure [Line Items]
Effect on total annual service and interest cost	$ 0.1
Effect on other post-retirement benefit obligations	0.9
Effect on total annual service and interest cost	(0.1)
Effect on other post-retirement benefit obligations	$ (0.8)

Benefit Plans - Actual Overall

Benefit Plans - Actual Overall Asset Allocation for U.S. And Non-U.S. Plans as Compared to Investment Policy Goals (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Target Allocation
Asset allocation	98.00%
U.S. Pension Plans | Fixed income
Plan Assets
Asset allocation	98.00%	97.00%
Target Allocation
Asset allocation	100.00%	100.00%
U.S. Pension Plans | Alternative
Plan Assets
Asset allocation	2.00%	3.00%
Target Allocation
Asset allocation	0.00%	0.00%
Non-US Pension Plans | Equity securities
Plan Assets
Asset allocation	40.00%	40.00%
Target Allocation
Asset allocation	46.00%	45.00%
Non-US Pension Plans | Fixed income
Plan Assets
Asset allocation	51.00%	53.00%
Target Allocation
Asset allocation	54.00%	55.00%
Non-US Pension Plans | Alternative
Plan Assets
Asset allocation	7.00%	5.00%
Target Allocation
Asset allocation	0.00%	0.00%
Non-US Pension Plans | Cash
Plan Assets
Asset allocation	2.00%	2.00%
Target Allocation
Asset allocation	0.00%	0.00%

Benefit Plans - Plan Assets Usi

Benefit Plans - Plan Assets Using Fair Value Methodologies (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 629.4	$ 653.6
Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	6.3	7.6
Fixed income | Foreign Government
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	381.5	373.6
Fixed income | US Treasury Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	52	70.7
Fixed income | Collateralized Mortgage Backed Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5.8	8.3
Fixed income | Other securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	37.2	45.5
Equity securities | U S Mid Cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3.4	3.1
Equity securities | U S Large Cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	43.2	43.7
Equity securities | International Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	74.4	77
Other Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	25.6	24.1
Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2.9	3.1
Fair Value, Inputs, Level 1 | Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	2.9	3.1
Fair Value, Inputs, Level 1 | Fixed income | Foreign Government
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 1 | Fixed income | US Treasury Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 1 | Fixed income | Collateralized Mortgage Backed Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 1 | Fixed income | Other securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 1 | Equity securities | U S Mid Cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 1 | Equity securities | U S Large Cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 1 | Equity securities | International Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 1 | Other Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	622.4	643.8
Fair Value, Inputs, Level 2 | Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3.4	4.5
Fair Value, Inputs, Level 2 | Fixed income | Foreign Government
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	381.5	373.6
Fair Value, Inputs, Level 2 | Fixed income | US Treasury Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	52	70.7
Fair Value, Inputs, Level 2 | Fixed income | Collateralized Mortgage Backed Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	5.8	8.3
Fair Value, Inputs, Level 2 | Fixed income | Other securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	37.2	45.5
Fair Value, Inputs, Level 2 | Equity securities | U S Mid Cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3.4	3.1
Fair Value, Inputs, Level 2 | Equity securities | U S Large Cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	43.2	43.7
Fair Value, Inputs, Level 2 | Equity securities | International Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	74.4	77
Fair Value, Inputs, Level 2 | Other Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	21.5	17.4
Fair Value, Inputs, Level 3
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	4.1	6.7
Fair Value, Inputs, Level 3 | Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 3 | Fixed income | Foreign Government
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 3 | Fixed income | US Treasury Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 3 | Fixed income | Collateralized Mortgage Backed Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 3 | Fixed income | Other securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 3 | Equity securities | U S Mid Cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 3 | Equity securities | U S Large Cap
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 3 | Equity securities | International Equity Securities
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	0	0
Fair Value, Inputs, Level 3 | Other Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 4.1	$ 6.7

Benefit Plans - Reconciliation

Benefit Plans - Reconciliation of Level 3 Assets (Detail) - Other Investments - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of Level 3 Assets [Roll Forward]
Beginning balance	$ 6.7	$ 19
Net realized and unrealized gains (losses)	(0.3)	0.7
Net issuances and settlements	(2.3)	(11.8)
Net transfers into (out of) level 3	0	(1.2)
Ending balance	$ 4.1	$ 6.7

Benefit Plans - Expected Future

Benefit Plans - Expected Future Services to Be Paid by Plans (Detail) $ in Millions	Dec. 31, 2015USD ($)
U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
2,016	$ 12.6
2,017	13.4
2,018	16
2,019	18.5
2,020	19.4
Thereafter	112
Non-US Pension Plans
Defined Benefit Plan Disclosure [Line Items]
2,016	14.4
2,017	15.8
2,018	16.8
2,019	18.3
2,020	19.7
Thereafter	103.2
Other Postretirement Benefit Plans
Defined Benefit Plan Disclosure [Line Items]
2,016	3.3
2,017	3.2
2,018	3.2
2,019	3.1
2,020	3
Thereafter	$ 13.4

Shareholder's Equity - Addition

Shareholder's Equity - Additional Information (Detail) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014SFr / shares$ / shares	Dec. 31, 2013$ / shares	Dec. 31, 2014USD ($)shares
Shareholders Equity
Common stock, shares authorized | shares	426			426
Common stock, par value (per share) | (per share)	$ 0.01	SFr 0.01
Common stock shares repurchased, shares | shares	3.1
Common stock amount repurchased	$ 200
Dividends payable amount per share | $ / shares	$ 0.33
ApprovedNotDeclaredlDividends | $ / shares	$ 1.34
Dividends payable	$ 59.6			$ 116.8
Dividends paid per common share | $ / shares	$ 1.28	SFr 1.10	$ 0.96
Treasury Stock, Shares, Retired | shares	19.1
September 2012 Share Repurchase Program
Shareholders Equity
Authorized amount to repurchase shares of common stock	$ 400
2012 Share Repurchase Programs [Member]
Shareholders Equity
Authorized amount to repurchase shares of common stock	1,200
October 2012 Share Repurchase Program
Shareholders Equity
Authorized amount to repurchase shares of common stock	$ 800
Authorization expiry date	Dec. 31, 2015
December 2013 Share Repurchase Program
Shareholders Equity
Authorized amount to repurchase shares of common stock	$ 1,000
Remaining authorized repurchase amount	$ 800
Authorization expiry date	Dec. 31, 2016
December 2014 Share Repurchase Program [Member] [Domain]
Shareholders Equity
Authorized amount to repurchase shares of common stock	$ 1,000
Treasury Stock [Member]
Shareholders Equity
Treasury Stock, Retired, Cost Method, Amount	$ 1,210.9
First Quarter [Member]
Shareholders Equity
ApprovedNotDeclaredlDividends | $ / shares	$ 0.33
First Quarter [Member]
Shareholders Equity
ApprovedNotDeclaredlDividends | $ / shares	0.33
Third Quarter [Member]
Shareholders Equity
ApprovedNotDeclaredlDividends | $ / shares	0.34
First Quarter [Member]
Shareholders Equity
ApprovedNotDeclaredlDividends | $ / shares	$ 0.34

Share Plans - Additional Inform

Share Plans - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based compensation expense
Share-based compensation	$ 33	$ 33.6	$ 31.1
Fair value of options granted
Weighted average grant date fair value of options granted	$ 16.40	$ 23.23	$ 13.96
Total intrinsic value of options exercised	$ 20.8	$ 34.8	$ 68.9
Unrecognized compensation cost related to stock options	16.4
Cash received from option exercises	28.7	46.6	102.3
Tax benefit realized for tax deductions from option exercises	4.8	8.3	23.5
Restricted shares and restricted stock units
Unrecognized compensation cost related to restricted stock units	32
Total fair value of shares vested	$ 26	26.3	23.4
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Expiration period	10 years
Share-based compensation expense
Share-based compensation	$ 11.4	11	10.9
Restricted shares and restricted stock units
Weighted average period to recognize compensation cost	1 year 7 months 6 days
Restricted Stock Units
Share-based compensation expense
Share-based compensation	$ 21.6	22.6	20.2
Restricted shares and restricted stock units
Tax benefit realized for tax deductions from option exercises	$ 2.4	$ 3.1	$ 7.2
Weighted average period to recognize compensation cost	1 year 8 months 4 days
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Maximum | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
Minimum | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
2012 Stock and Incentive Plan
Share Incentive Plans
Number of shares authorized for issuance	9

Share Plans - Stock Option Acti

Share Plans - Stock Option Activity (Detail) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Shares
Beginning balance | shares	5.7
Granted | shares	0.7
Exercised | shares	(0.7)
Forfeited | shares	(0.1)
Ending balance | shares	5.6
Options exercisable | shares	4.4
Options expected to vest at end of period | shares	1.2
Weighted Average Exercise Price
Beginning balance (USD per share) | $ / shares	$ 39.08
Granted (USD per share) | $ / shares	65.30
Exercised (USD per share) | $ / shares	35.27
Forfeited (USD per share) | $ / shares	64.52
Ending Balance (USD per share) | $ / shares	42.55
Options exercisable at end of period (USD per share) | $ / shares	35.93
Options expected to vest at end of period (USD per share) | $ / shares	$ 65.24
Weighted Average Remaining Contractual Life
Ending balance	4 years 9 months 18 days
Options exercisable at end of period	3 years 10 months 24 days
Options expected to vest at end of period	8 years 1 month 6 days
Aggregate Intrinsic value
Balance at end of period | $	$ 61.7
Options exercisable at end of period | $	61.7
Options expected to vest at end of period | $	$ 0

Share Plans - Stock Option Fair

Share Plans - Stock Option Fair Value Assumptions (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.60%	1.44%	0.69%
Expected dividend yield	1.97%	1.46%	2.01%
Expected share price volatility	30.40%	35.30%	36.00%
Expected term (years)	6 years	5 years 7 months 6 days	5 years 8 months 12 days

Share Plans - Restricted Stock

Share Plans - Restricted Stock Units (Detail) - Restricted Stock Units shares in Millions	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Restricted Shares Outstanding Shares
Beginning balance | shares	1.1
Granted | shares	0.3
Vested | shares	(0.5)
Forfeited | shares	(0.1)
Ending Balance | shares	0.8
Weighted Average Grant Date Fair Value
Beginning balance (USD per share) | $ / shares	$ 50.55
Granted (USD per share) | $ / shares	63.45
Vested (USD per share) | $ / shares	48.25
Forfeited (USD per share) | $ / shares	54.89
Ending balance (USD per share) | $ / shares	$ 55.64

Share Plans - Share-based compe

Share Plans - Share-based compensation expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-based Compensation Expense	$ 33	$ 33.6	$ 31.1
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-based Compensation Expense	21.6	22.6	20.2
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Allocated Share-based Compensation Expense	$ 11.4	$ 11	$ 10.9

Segment Information - Financial

Segment Information - Financial Information By Reportable Segment (Detail) - USD ($) $ in Millions		3 Months Ended								12 Months Ended
		Dec. 31, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 28, 2015	Dec. 31, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 29, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Net sales		$ 1,760.7	$ 1,552.1	$ 1,661.2	$ 1,475	$ 1,802.5	$ 1,758.4	$ 1,834.1	$ 1,644	$ 6,449	$ 7,039	$ 6,999.7
Segment income (loss)										1,001.2	1,135.7	1,013.2
Identifiable assets (1)		11,857				10,655.2				11,857	10,655.2	11,743.3
Depreciation										139.5	138.7	141.3
Capital expenditures										134.3	129.6	170
Operating Income (Loss)		(391.9)	$ 180	$ 217.9	$ 171.2	176	$ 267.4	$ 226.4	$ 182.1	177.2	851.9	742.6
Valves And Controls [Member]
Segment Reporting Information [Line Items]
Net sales										1,840.1	2,377.3	2,451.7
Segment income (loss)										223	398.5	349.3
Identifiable assets (1)	[1]	3,243.3				4,045.2				3,243.3	4,045.2	4,198.2
Depreciation										58.3	59	64
Capital expenditures										43	45.9	67.2
Flow & Filtration Solutions [Member]
Segment Reporting Information [Line Items]
Net sales										1,441.6	1,603.1	1,651.8
Segment income (loss)										185.1	199.5	202.4
Identifiable assets (1)	[1]	1,822.8				2,040				1,822.8	2,040	2,311.7
Depreciation										23.6	23.7	23.4
Capital expenditures										20.4	24.9	32.2
Water Quality Systems [Member]
Segment Reporting Information [Line Items]
Net sales										1,381.5	1,356.4	1,269.3
Segment income (loss)										281.8	253.3	227.9
Identifiable assets (1)	[1]	1,801.7				1,828.3				1,801.7	1,828.3	1,851.1
Depreciation										21.7	21.9	20.3
Capital expenditures										21.1	20.6	31.5
Technical Solutions
Segment Reporting Information [Line Items]
Net sales										1,809.3	1,728.1	1,663.4
Segment income (loss)										395	378.1	342
Identifiable assets (1)	[1]	4,488.4				2,117.3				4,488.4	2,117.3	2,093.4
Depreciation										27.6	24.2	23.6
Capital expenditures										47.4	24	16.2
All Other Segments
Segment Reporting Information [Line Items]
Net sales										(23.5)	(25.9)	(36.5)
Segment income (loss)										(83.7)	(93.7)	(108.4)
Identifiable assets (1)	[1]	$ 500.8				$ 624.4				500.8	624.4	1,288.9
Depreciation										8.3	9.9	10
Capital expenditures										$ 2.4	$ 14.2	$ 22.9
[1]	All cash and cash equivalents and assets held for sale are included in "Other.

Segment Information - Geographi

Segment Information - Geographic Information (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 28, 2015	Dec. 31, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 29, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Geographic Information [Line Items]
Net sales	$ 1,760.7	$ 1,552.1	$ 1,661.2	$ 1,475	$ 1,802.5	$ 1,758.4	$ 1,834.1	$ 1,644	$ 6,449	$ 7,039	$ 6,999.7
Long-lived assets	942.8				950				942.8	950	1,044.3
U.S.
Geographic Information [Line Items]
Net sales									3,091	3,103.6	2,981.7
Long-lived assets	381.4				350				381.4	350	365.4
Western Europe
Geographic Information [Line Items]
Net sales									1,141.5	1,355.5	1,373.8
Long-lived assets	324.5				340				324.5	340	393.9
Developing (1)
Geographic Information [Line Items]
Net sales									1,425.6	1,662	1,733.8
Long-lived assets	158.6				180.9				158.6	180.9	193.3
Other Developed (2)
Geographic Information [Line Items]
Net sales									790.9	917.9	910.4
Long-lived assets	$ 78.3				$ 79.1				$ 78.3	$ 79.1	$ 91.7

Segment Information - Additiona

Segment Information - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Customer Concentration Risk
Revenue, Major Customer [Line Items]
Number of significant customers	0	0	0

Segment Information Reconciliat

Segment Information Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 28, 2015	Dec. 31, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 29, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Income (Loss)									$ 1,001.2	$ 1,135.7	$ 1,013.2
Restructuring costs									117.8	88.3	103.2
Amortization									121.4	114	134.1
Mark-to-market actuarial gains (losses) on pension and post-retirement benefit plans	$ 23				$ (49.9)
Impairment of goodwill and trade names									554.7	0	11
Operating Income (Loss)	$ (391.9)	$ 180	$ 217.9	$ 171.2	$ 176	$ 267.4	$ 226.4	$ 182.1	177.2	851.9	742.6
Segment Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Payments for Merger Related Costs									(14.3)	0	0
Inventory Step Up Related To Merger									(35.7)	0	(86.6)
Restructuring costs									(120.9)	(109.6)	(119.9)
Amortization									(121.4)	(114)	(110.9)
Mark-to-market actuarial gains (losses) on pension and post-retirement benefit plans									23	(49.9)	63.2
Impairment of goodwill and trade names									554.7	0	11
Redomicile Expense									$ 0	$ (10.3)	$ (5.4)

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Dec. 31, 2015USD ($)LegalMatter	Dec. 31, 2014USD ($)
Loss Contingencies [Line Items]
Number Of Claims In Lawsuit | LegalMatter	4,100
Liability For claims and contingencies	$ 237.9	$ 249.1
Liability reserve for insurance claims	111	115.8
Environmental Reserve	22.8	31.4
Outstanding Value Of Letters Of Credit	$ 402.2	$ 370.1

Commitments and Contingencie104

Commitments and Contingencies - Net Rental Expense Under Operating Leases (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating Leased Assets [Line Items]
Gross rental expense	$ 54.8	$ 68.7	$ 76
Sublease rental income	(0.9)	(1.3)	(0.9)
Net rental expense	$ 53.9	$ 67.4	$ 75.1

Commitments and Contingencie105

Commitments and Contingencies - Future Minimum Lease Commitments Under Non-Cancelable Operating Leases (Detail) $ in Millions	Dec. 31, 2015USD ($)
Operating Leased Assets [Line Items]
2,016	$ (44.3)
2,017	(32.6)
2,018	(24.8)
2,019	(19.8)
2,020	(14.9)
Thereafter	23.3
Total	(159.7)
Minimum lease payments
Operating Leased Assets [Line Items]
2,016	(45.1)
2,017	(33.4)
2,018	(25.3)
2,019	(20.2)
2,020	(15.1)
Thereafter	23.3
Total	(162.4)
Minimum sublease rentals
Operating Leased Assets [Line Items]
2,016	(0.8)
2,017	(0.8)
2,018	(0.5)
2,019	(0.4)
2,020	(0.2)
Thereafter	0
Total	$ (2.7)

Commitments and Contingencie106

Commitments and Contingencies - Warranty Reserve Rollforward (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 66.4	$ 56
Service and product warranty provision	61.7	75.3
Payments	(66.3)	(62.1)
Foreign currency translation	(2)	(2.8)
Ending balance	$ 59.8	$ 66.4

Selected Quarterly Data - Quart

Selected Quarterly Data - Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended																12 Months Ended
	Dec. 31, 2015		Sep. 26, 2015		Jun. 27, 2015		Mar. 28, 2015		Dec. 31, 2014		Sep. 27, 2014		Jun. 28, 2014		Mar. 29, 2014		Dec. 31, 2015		Dec. 31, 2014		Dec. 31, 2013
Quarterly Financial Information [Line Items]
Net sales	$ 1,760.7		$ 1,552.1		$ 1,661.2		$ 1,475		$ 1,802.5		$ 1,758.4		$ 1,834.1		$ 1,644		$ 6,449		$ 7,039		$ 6,999.7
Gross profit	569.3		540.1		566.2		510.2		627.9		624.7		646.3		564.1		2,185.8		2,463		2,370.1
Operating income (loss)	(391.9)		180		217.9		171.2		176		267.4		226.4		182.1		177.2		851.9		742.6
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest	(452.3)		115.2		153.9		118.2		129.8		192.5		159.2		125.5		(65)		607		517.5
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax	0.9		0		(1.3)		(4.3)		(9)		1.6		2.3		(1.3)		(4.7)		(6.4)		25.9
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax	1.9		0		(4.8)		0		0		(380.1)		0		(5.6)		(6.7)		(385.7)		(0.8)
Net income (loss) attributable to Pentair plc	$ (453.3)		$ 115.2		$ 147.8		$ 113.9		$ 120.8		$ (186)		$ 161.5		$ 118.6		(76.4)		214.9		536.8
Income (Loss) from Continuing Operations Attributable to Pentair plc																	$ (65)		$ 607		$ 511.7
Income (Loss) from Continuing Operations, Per Basic Share	$ (2.51)		$ 0.64		$ 0.85		$ 0.66		$ 0.71		$ 1.01		$ 0.82		$ 0.64		$ (0.36)		$ 3.19		$ 2.54
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	(0.01)		0		(0.03)		(0.03)		(0.05)		(1.99)		0.02		(0.04)		(0.06)		(2.06)		0.13
Earnings (loss) per ordinary share attributable to Pentair plc
Earnings Per Share, Basic	(2.52)	[1]	0.64	[1]	0.82	[1]	0.63	[1]	0.66	[1]	(0.98)	[1]	0.84	[1]	0.60	[1]	(0.42)	[1]	1.13	[1]	2.67
Income (Loss) from Continuing Operations, Per Diluted Share	(2.51)		0.63		0.84		0.65		0.70		1		0.81		0.63		(0.36)		3.14		2.50
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	(0.01)		0		(0.03)		(0.03)		(0.05)		(1.95)		0.01		(0.04)		(0.06)		(2.03)		0.12
Diluted	$ (2.52)	[1]	$ 0.63	[1]	$ 0.81	[1]	$ 0.62	[1]	$ 0.65	[1]	$ (0.95)	[1]	$ 0.82	[1]	$ 0.59	[1]	$ (0.42)	[1]	$ 1.11	[1]	$ 2.62
[1]	Amounts may not total to annual earnings because each quarter and year are calculated separately based on basic and diluted weighted-average ordinary shares outstanding during that period

Selected Quarterly Data - Addit

Selected Quarterly Data - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 28, 2015	Dec. 31, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 29, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Effect of Fourth Quarter Events [Line Items]
Net sales	$ 1,760.7	$ 1,552.1	$ 1,661.2	$ 1,475	$ 1,802.5	$ 1,758.4	$ 1,834.1	$ 1,644	$ 6,449	$ 7,039	$ 6,999.7
Income (loss) from continuing operations									(65)	607	511.7
Mark-to-market actuarial gains (losses) on pension and post-retirement benefit plans	23				$ (49.9)
Restructuring cost	$ 70.1						$ 35.4	$ 17.4			35.5
Impairment charges, related to trade names										0
Valves And Controls [Member]
Effect of Fourth Quarter Events [Line Items]
Goodwill, Impairment Loss									554.7
Net sales									1,840.1	$ 2,377.3	$ 2,451.7
Impairment charges, related to trade names									$ 39.5

Financial Statements of Pare109

Financial Statements of Parent Company Guarantor - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Ownership percentage	100.00%

Financial Statements of Pare110

Financial Statements of Parent Company Guarantor - Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 28, 2015	Dec. 31, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 29, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Net sales	$ 1,760.7	$ 1,552.1	$ 1,661.2	$ 1,475	$ 1,802.5	$ 1,758.4	$ 1,834.1	$ 1,644	$ 6,449	$ 7,039	$ 6,999.7
Cost of goods sold									4,263.2	4,576	4,629.6
Gross profit	569.3	540.1	566.2	510.2	627.9	624.7	646.3	564.1	2,185.8	2,463	2,370.1
Selling, general and administrative									1,334.3	1,493.8	1,493.7
Research and development									119.6	117.3	122.8
Impairment of goodwill and trade names									554.7	0	11
Operating income (loss)	(391.9)	180	217.9	171.2	176	267.4	226.4	182.1	177.2	851.9	742.6
Loss (earnings) from investment in subsidiaries									0	0	0
Loss (gain) on sale of businesses, net									3.2	0.2	(20.8)
Other (income) expense:
Equity income of unconsolidated subsidiaries									(2.8)	(1.2)	(2)
Interest income									(6)	(3.7)	(4.4)
Interest expense									108.7	72.3	75.3
Income (loss) from continuing operations before income taxes and noncontrolling interest									74.1	784.3	694.5
Provision for income taxes									139.1	177.3	177
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest	(452.3)	115.2	153.9	118.2	129.8	192.5	159.2	125.5	(65)	607	517.5
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax	0.9	0	(1.3)	(4.3)	(9)	1.6	2.3	(1.3)	(4.7)	(6.4)	25.9
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax	1.9	0	(4.8)	0	0	(380.1)	0	(5.6)	(6.7)	(385.7)	(0.8)
Discontinued Operation, Income (Loss) from Investment in Subsidiaries									0	0	0
Net income (loss) from continuing operations before noncontrolling interest									(76.4)	214.9	542.6
Noncontrolling interest									0	0	5.8
Net income (loss) attributable to Pentair plc	$ (453.3)	$ 115.2	$ 147.8	$ 113.9	$ 120.8	$ (186)	$ 161.5	$ 118.6	(76.4)	214.9	536.8
Income (Loss) from Continuing Operations Attributable to Pentair plc									(65)	607	511.7
Comprehensive income (loss), net of tax
Net income (loss) before noncontrolling interest									(76.4)	214.9	542.6
Changes in cumulative translation adjustment									(264.9)	(336.3)	(29.1)
Amortization of pension and other post-retirement prior service cost									0	0	(0.4)
Changes in market value of derivative financial instruments									0.2	(0.4)	(0.3)
Total comprehensive income (loss)									(341.1)	(121.8)	512.8
Less: Comprehensive income attributable to noncontrolling interest									0	0	8
Comprehensive income (loss) attributable to Pentair plc									(341.1)	(121.8)	504.8
Parent Company Guarantor
Condensed Financial Statements, Captions [Line Items]
Net sales									0	0	0
Cost of goods sold									0	0	0
Gross profit									0	0	0
Selling, general and administrative									33.7	25.3	21
Research and development									0	0	0
Impairment of goodwill and trade names									0		0
Operating income (loss)									(33.7)	(25.3)	(21)
Loss (earnings) from investment in subsidiaries									26	(615.5)	(539)
Loss (gain) on sale of businesses, net									0	0
Other (income) expense:
Equity income of unconsolidated subsidiaries									0	0	0
Interest income									0	0	0
Interest expense									0	0.7	5.6
Income (loss) from continuing operations before income taxes and noncontrolling interest									(59.7)	589.5	512.4
Provision for income taxes									5.3	(17.5)	0.7
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest									(65)	607	511.7
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax									0	0	0
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax									0	0	0
Discontinued Operation, Income (Loss) from Investment in Subsidiaries									(11.4)	(392.1)	25.1
Net income (loss) from continuing operations before noncontrolling interest											536.8
Noncontrolling interest											0
Net income (loss) attributable to Pentair plc									(76.4)	214.9	536.8
Income (Loss) from Continuing Operations Attributable to Pentair plc											511.7
Comprehensive income (loss), net of tax
Net income (loss) before noncontrolling interest									(76.4)	214.9	536.8
Changes in cumulative translation adjustment									(264.9)	(336.3)	(31.3)
Amortization of pension and other post-retirement prior service cost											(0.4)
Changes in market value of derivative financial instruments									0.2	(0.4)	(0.3)
Total comprehensive income (loss)											504.8
Less: Comprehensive income attributable to noncontrolling interest											0
Comprehensive income (loss) attributable to Pentair plc									(341.1)	(121.8)	504.8
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Net sales									0	0
Cost of goods sold									0	0
Gross profit									0	0
Selling, general and administrative									2.2	2.6
Research and development									0	0
Impairment of goodwill and trade names									0
Operating income (loss)									(2.2)	(2.6)
Loss (earnings) from investment in subsidiaries									22.4	(619.7)
Loss (gain) on sale of businesses, net									0	0
Other (income) expense:
Equity income of unconsolidated subsidiaries									0	0
Interest income									0	0
Interest expense									1.4	2.1
Income (loss) from continuing operations before income taxes and noncontrolling interest									(26)	615
Provision for income taxes									0	(0.5)
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest									(26)	615.5
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax									0	0
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax									0	0
Discontinued Operation, Income (Loss) from Investment in Subsidiaries									(11.4)	(392.1)
Net income (loss) attributable to Pentair plc									(37.4)	223.4
Comprehensive income (loss), net of tax
Net income (loss) before noncontrolling interest									(37.4)	223.4
Changes in cumulative translation adjustment									(264.9)	(336.3)
Changes in market value of derivative financial instruments									0.2	(0.4)
Comprehensive income (loss) attributable to Pentair plc									(302.1)	(113.3)
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Net sales									0	0	0
Cost of goods sold									0	0	0
Gross profit									0	0	0
Selling, general and administrative									5.3	7.7	13.3
Research and development									0	0	0
Impairment of goodwill and trade names									0		0
Operating income (loss)									(5.3)	(7.7)	(13.3)
Loss (earnings) from investment in subsidiaries									(13)	(611.1)	(508.6)
Loss (gain) on sale of businesses, net									0	0
Other (income) expense:
Equity income of unconsolidated subsidiaries									0	0	0
Interest income									(80.6)	(92.3)	(99.2)
Interest expense									126.3	95.6	106
Income (loss) from continuing operations before income taxes and noncontrolling interest									(38)	600.1	488.5
Provision for income taxes									0	(2.4)	1.4
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest									(38)	602.5	487.1
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax									0	0	0
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax									0	0	0
Discontinued Operation, Income (Loss) from Investment in Subsidiaries									(11.4)	(392.1)	25.1
Net income (loss) from continuing operations before noncontrolling interest											512.2
Noncontrolling interest											0
Net income (loss) attributable to Pentair plc									(49.4)	210.4	512.2
Income (Loss) from Continuing Operations Attributable to Pentair plc											487.1
Comprehensive income (loss), net of tax
Net income (loss) before noncontrolling interest									(49.4)	210.4	512.2
Changes in cumulative translation adjustment									(264.9)	(336.3)	(31.3)
Amortization of pension and other post-retirement prior service cost											(0.4)
Changes in market value of derivative financial instruments									0.2	(0.4)	(0.3)
Total comprehensive income (loss)											480.2
Less: Comprehensive income attributable to noncontrolling interest											0
Comprehensive income (loss) attributable to Pentair plc									(314.1)	(126.3)	480.2
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net sales									6,449	7,039	6,999.7
Cost of goods sold									4,263.2	4,576	4,629.6
Gross profit									2,185.8	2,463	2,370.1
Selling, general and administrative									1,293.1	1,458.2	1,459.4
Research and development									119.6	117.3	122.8
Impairment of goodwill and trade names									554.7		11
Operating income (loss)									218.4	887.5	776.9
Loss (earnings) from investment in subsidiaries									0	0	0
Loss (gain) on sale of businesses, net									3.2	0.2	(20.8)
Other (income) expense:
Equity income of unconsolidated subsidiaries									(2.8)	(1.2)	(2)
Interest income									(35.1)	(40.2)	(53.4)
Interest expense									90.7	102.7	111.9
Income (loss) from continuing operations before income taxes and noncontrolling interest									162.4	826	741.2
Provision for income taxes									133.8	197.7	174.9
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest									28.6	628.3	566.3
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax									(4.7)	(6.4)	25.9
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax									(6.7)	(385.7)	(0.8)
Discontinued Operation, Income (Loss) from Investment in Subsidiaries									0	0	0
Net income (loss) from continuing operations before noncontrolling interest											591.4
Noncontrolling interest											5.8
Net income (loss) attributable to Pentair plc									17.2	236.2	585.6
Income (Loss) from Continuing Operations Attributable to Pentair plc											560.5
Comprehensive income (loss), net of tax
Net income (loss) before noncontrolling interest									17.2	236.2	591.4
Changes in cumulative translation adjustment									(264.9)	(336.3)	(29.1)
Amortization of pension and other post-retirement prior service cost											(0.4)
Changes in market value of derivative financial instruments									0.2	(0.4)	(0.3)
Total comprehensive income (loss)											561.6
Less: Comprehensive income attributable to noncontrolling interest											8
Comprehensive income (loss) attributable to Pentair plc									(247.5)	(100.5)	553.6
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net sales									0	0	0
Cost of goods sold									0	0	0
Gross profit									$ 0	0	0
Selling, general and administrative										0	0
Research and development									$ 0	0	0
Impairment of goodwill and trade names									0		0
Operating income (loss)									0	0	0
Loss (earnings) from investment in subsidiaries									(35.4)	1,846.3	1,047.6
Loss (gain) on sale of businesses, net									0	0
Other (income) expense:
Equity income of unconsolidated subsidiaries									0	0	0
Interest income									109.7	128.8	148.2
Interest expense									(109.7)	(128.8)	(148.2)
Income (loss) from continuing operations before income taxes and noncontrolling interest									35.4	(1,846.3)	(1,047.6)
Provision for income taxes									0	0	0
Income (Loss) from Continuing Operations, Including Portion Attributable to Noncontrolling Interest									35.4	(1,846.3)	(1,047.6)
Discontinued Operation, Income (Loss) from Discontinued Operation During Phase-out Period, Net of Tax									0	0	0
Discontinued Operation, Provision for Loss (Gain) on Disposal, Net of Tax									0	0	0
Discontinued Operation, Income (Loss) from Investment in Subsidiaries									34.2	1,176.3	(50.2)
Net income (loss) from continuing operations before noncontrolling interest											(1,097.8)
Noncontrolling interest											0
Net income (loss) attributable to Pentair plc									69.6	(670)	(1,097.8)
Income (Loss) from Continuing Operations Attributable to Pentair plc											(1,047.6)
Comprehensive income (loss), net of tax
Net income (loss) before noncontrolling interest									69.6	(670)	(1,097.8)
Changes in cumulative translation adjustment									794.7	1,008.9	62.6
Amortization of pension and other post-retirement prior service cost											0.8
Changes in market value of derivative financial instruments									(0.6)	1.2	0.6
Total comprehensive income (loss)											(1,033.8)
Less: Comprehensive income attributable to noncontrolling interest											0
Comprehensive income (loss) attributable to Pentair plc									$ 863.7	$ 340.1	$ (1,033.8)

Financial Statements of Pare111

Financial Statements of Parent Company Guarantor - Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Current assets
Cash and cash equivalents	$ 126.3	$ 110.4	$ 256	$ 237.4
Accounts and notes receivable, net	1,167.7	1,205.9
Inventories	1,174.3	1,130.4
Other current assets	312.3	366.8
Disposal Group, Including Discontinued Operation, Assets, Current	0	80.6
Total current assets	2,780.6	2,894.1
Property, plant and equipment, net	942.8	950	1,044.3
Other assets
Investments in subsidiaries	0	0
Goodwill	5,255.4	4,741.9	4,860.7
Intangibles, net	2,490.1	1,608.1
Other non-current assets	388.1	436.2
Disposal Group, Including Discontinued Operation, Assets, Noncurrent	0	24.9
Total other assets	8,133.6	6,811.1
Total assets	11,857	10,655.2	11,743.3
Current liabilities
Current maturities of long-term debt and short-term borrowings	0.7	6.7
Accounts payable	578.8	583.1
Employee compensation and benefits	262.9	305.5
Other current liabilities	644.1	709.1
Disposal Group, Including Discontinued Operation, Liabilities, Current	0	35.1
Total current liabilities	1,486.5	1,639.5
Other liabilities
Long-term debt	4,709.3	2,997.4
Pension and other post-retirement compensation and benefits	287.2	322
Deferred tax liabilities	844.2	528.3
Other non-current liabilities	521	497.7
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent	0	6.5
Total liabilities	7,848.2	5,991.4
Equity
Total equity	4,008.8	4,663.8	6,217.7	6,487.5
Total liabilities and equity	11,857	10,655.2
Parent Company Guarantor
Current assets
Cash and cash equivalents	0	0	0.5	0
Accounts and notes receivable, net	0.1	0
Inventories	0	0
Other current assets	25.2	0
Disposal Group, Including Discontinued Operation, Assets, Current		0
Total current assets	25.3	0
Property, plant and equipment, net	0	0
Other assets
Investments in subsidiaries	4,495.6	4,733
Goodwill	0	0
Intangibles, net	0	0
Other non-current assets	12.6	80.2
Disposal Group, Including Discontinued Operation, Assets, Noncurrent		0
Total other assets	4,508.2	4,813.2
Total assets	4,533.5	4,813.2
Current liabilities
Current maturities of long-term debt and short-term borrowings	0	0
Accounts payable	0.6	0.9
Employee compensation and benefits	0.4	0.2
Other current liabilities	61.7	120.6
Disposal Group, Including Discontinued Operation, Liabilities, Current		0
Total current liabilities	62.7	121.7
Other liabilities
Long-term debt	453.3	11.4
Pension and other post-retirement compensation and benefits	0	0
Deferred tax liabilities	0	0
Other non-current liabilities	8.7	16.3
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent		0
Total liabilities	524.7	149.4
Equity
Total equity	4,008.8	4,663.8
Total liabilities and equity	4,533.5	4,813.2
Guarantor Subsidiaries [Member]
Current assets
Cash and cash equivalents	0	0	0
Accounts and notes receivable, net	0	0
Inventories	0	0
Other current assets	12.8	17.6
Disposal Group, Including Discontinued Operation, Assets, Current		0
Total current assets	12.8	17.6
Property, plant and equipment, net	0	0
Other assets
Investments in subsidiaries	4,486.1	4,893.8
Goodwill	0	0
Intangibles, net	0	0
Other non-current assets	0	0
Disposal Group, Including Discontinued Operation, Assets, Noncurrent		0
Total other assets	4,486.1	4,893.8
Total assets	4,498.9	4,911.4
Current liabilities
Current maturities of long-term debt and short-term borrowings	0	0
Accounts payable	0	0
Employee compensation and benefits	0.1	0.6
Other current liabilities	1.5	2.2
Disposal Group, Including Discontinued Operation, Liabilities, Current		0
Total current liabilities	1.6	2.8
Other liabilities
Long-term debt	1.7	175.6
Pension and other post-retirement compensation and benefits	0	0
Deferred tax liabilities	0	0
Other non-current liabilities	0	0
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent		0
Total liabilities	3.3	178.4
Equity
Total equity	4,495.6	4,733
Total liabilities and equity	4,498.9	4,911.4
Subsidiary Issuer
Current assets
Cash and cash equivalents	0.1	0.1	47	0
Accounts and notes receivable, net	0	0
Inventories	0	0
Other current assets	2.1	2
Disposal Group, Including Discontinued Operation, Assets, Current		0
Total current assets	2.2	2.1
Property, plant and equipment, net	0	0
Other assets
Investments in subsidiaries	10,151.1	7,612.2
Goodwill	0	0
Intangibles, net	0	0
Other non-current assets	208.5	1,381.8
Disposal Group, Including Discontinued Operation, Assets, Noncurrent		0
Total other assets	10,359.6	8,994
Total assets	10,361.8	8,996.1
Current liabilities
Current maturities of long-term debt and short-term borrowings	0	0
Accounts payable	0.3	0
Employee compensation and benefits	0	0
Other current liabilities	27.1	10.9
Disposal Group, Including Discontinued Operation, Liabilities, Current		0
Total current liabilities	27.4	10.9
Other liabilities
Long-term debt	4,556	2,860.6
Pension and other post-retirement compensation and benefits	0	0
Deferred tax liabilities	3.1	2.9
Other non-current liabilities	0	0
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent		0
Total liabilities	4,586.5	2,874.4
Equity
Total equity	5,775.3	6,121.7
Total liabilities and equity	10,361.8	8,996.1
Non-Guarantor Subsidiaries
Current assets
Cash and cash equivalents	126.2	110.3	208.5	237.4
Accounts and notes receivable, net	1,167.6	1,206.8
Inventories	1,174.3	1,130.4
Other current assets	310.1	367.6
Disposal Group, Including Discontinued Operation, Assets, Current		80.6
Total current assets	2,778.2	2,895.7
Property, plant and equipment, net	942.8	950
Other assets
Investments in subsidiaries	0	0
Goodwill	5,255.4	4,741.9
Intangibles, net	2,490.1	1,608.1
Other non-current assets	354.2	345
Disposal Group, Including Discontinued Operation, Assets, Noncurrent		24.9
Total other assets	8,099.7	6,719.9
Total assets	11,820.7	10,565.6
Current liabilities
Current maturities of long-term debt and short-term borrowings	0.7	6.7
Accounts payable	577.9	583.1
Employee compensation and benefits	262.4	304.7
Other current liabilities	591.7	595.8
Disposal Group, Including Discontinued Operation, Liabilities, Current		35.1
Total current liabilities	1,432.7	1,525.4
Other liabilities
Long-term debt	(114.5)	1,320.6
Pension and other post-retirement compensation and benefits	287.2	322
Deferred tax liabilities	841.1	525.4
Other non-current liabilities	512.3	481.4
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent		6.5
Total liabilities	2,958.8	4,181.3
Equity
Total equity	8,861.9	6,384.3
Total liabilities and equity	11,820.7	10,565.6
Eliminations
Current assets
Cash and cash equivalents	0	0	$ 0	$ 0
Accounts and notes receivable, net	0	(0.9)
Inventories	0	0
Other current assets	(37.9)	(20.4)
Disposal Group, Including Discontinued Operation, Assets, Current		0
Total current assets	(37.9)	(21.3)
Property, plant and equipment, net	0	0
Other assets
Investments in subsidiaries	(19,132.8)	(17,239)
Goodwill	0	0
Intangibles, net	0	0
Other non-current assets	(187.2)	(1,370.8)
Disposal Group, Including Discontinued Operation, Assets, Noncurrent		0
Total other assets	(19,320)	(18,609.8)
Total assets	(19,357.9)	(18,631.1)
Current liabilities
Current maturities of long-term debt and short-term borrowings	$ 0	0
Accounts payable		(0.9)
Employee compensation and benefits	$ 0	0
Other current liabilities	(37.9)	(20.4)
Disposal Group, Including Discontinued Operation, Liabilities, Current		0
Total current liabilities	(37.9)	(21.3)
Other liabilities
Long-term debt	(187.2)	(1,370.8)
Pension and other post-retirement compensation and benefits	0	0
Deferred tax liabilities	0	0
Other non-current liabilities	0	0
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent		0
Total liabilities	(225.1)	(1,392.1)
Equity
Total equity	(19,132.8)	(17,239)
Total liabilities and equity	$ (19,357.9)	$ (18,631.1)

Financial Statements of Pare112

Financial Statements of Parent Company Guarantor - Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 26, 2015	Jun. 27, 2015	Mar. 28, 2015	Dec. 31, 2014	Sep. 27, 2014	Jun. 28, 2014	Mar. 29, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Revenue, Net	$ 1,760.7	$ 1,552.1	$ 1,661.2	$ 1,475	$ 1,802.5	$ 1,758.4	$ 1,834.1	$ 1,644	$ 6,449	$ 7,039	$ 6,999.7
Operating activities
Net cash provided by (used for) operating activities									739.3	1,008.4	927.9
Investing activities
Capital expenditures									(134.3)	(129.6)	(170)
Proceeds from sale of property and equipment									27.3	13.1	6
Proceeds from sale of businesses, net									0	0.3	43.5
Acquisitions, net of cash acquired	(0.9)		(96)						(1,913.9)	(12.3)	(92.4)
Intercompany Loan Activity, Net									0
Other									(3.6)	0.2	1.7
Net Cash Provided by (Used in) Investing Activities, Continuing Operations									(2,024.5)	(128.3)	(211.2)
Cash Provided by (Used in) Investing Activities, Discontinued Operations									59	0	0
Net Cash Provided by (Used in) Investing Activities									(1,965.5)	(128.3)	(211.2)
Financing activities
Net receipts (repayments) of short-term borrowings									(2.3)	0.5	0
Net receipts of commercial paper and revolving long-term debt									363.5	468.6	104.2
Proceeds from long-term debt									1,714.8	2.2	0.7
Repayment of long-term debt									(356.6)	(16.8)	(7.4)
Debt issuance costs									(26.8)	(3.1)	(1.4)
Debt extinguishment costs											0
Net change in advances to subsidiaries									0	0	0
Excess tax benefits from share-based compensation									6	12.6	16.8
Shares issued to employees, net of shares withheld									19.4	37	80
Repurchases of ordinary shares									(200)	(1,150)	(715.8)
Dividends paid									(231.7)	(211.4)	(194.2)
Distributions to noncontrolling interest									0	(134.7)	(2)
Net cash provided by (used for) financing activities									1,286.3	(995.1)	(719.1)
Effect of exchange rate changes on cash and cash equivalents									(44.2)	(30.6)	21
Change in cash and cash equivalents									15.9	(145.6)	18.6
Cash and cash equivalents, beginning of year				110.4				256	110.4	256	237.4
Cash and cash equivalents, end of year	126.3				110.4				126.3	110.4	256
Cost of goods sold									4,263.2	4,576	4,629.6
Gross profit	569.3	540.1	566.2	510.2	627.9	624.7	646.3	564.1	2,185.8	2,463	2,370.1
Selling, General and Administrative Expense									1,334.3	1,493.8	1,493.7
Research and Development Expense									119.6	117.3	122.8
Impairment of goodwill and trade names									554.7	0	11
Operating Income (Loss)	(391.9)	$ 180	$ 217.9	171.2	176	$ 267.4	$ 226.4	182.1	177.2	851.9	742.6
Parent Company Guarantor
Condensed Financial Statements, Captions [Line Items]
Revenue, Net									0	0	0
Operating activities
Net cash provided by (used for) operating activities									(43)	169	534.2
Investing activities
Capital expenditures									0	0	0
Proceeds from sale of property and equipment									0	0	0
Proceeds from sale of businesses, net										0	0
Acquisitions, net of cash acquired									0	0	0
Intercompany Loan Activity, Net									0	0
Other									0	0	0
Net Cash Provided by (Used in) Investing Activities, Continuing Operations									0
Net Cash Provided by (Used in) Investing Activities									0	0	0
Financing activities
Net receipts (repayments) of short-term borrowings									0	0
Net receipts of commercial paper and revolving long-term debt									0	0	0
Proceeds from long-term debt									0	0	0
Repayment of long-term debt									0	0	0
Debt issuance costs									0	0	0
Debt extinguishment costs											0
Net change in advances to subsidiaries									471.7	741.1	(339.5)
Excess tax benefits from share-based compensation									0	0	0
Shares issued to employees, net of shares withheld									3	0	0
Repurchases of ordinary shares									(200)	(699.2)	0
Dividends paid									(231.7)	(211.4)	(194.2)
Distributions to noncontrolling interest										0	0
Net cash provided by (used for) financing activities									43	(169.5)	(533.7)
Effect of exchange rate changes on cash and cash equivalents									0	0	0
Change in cash and cash equivalents									0	(0.5)	0.5
Cash and cash equivalents, beginning of year				0				0.5	0	0.5	0
Cash and cash equivalents, end of year	0				0				0	0	0.5
Cost of goods sold									0	0	0
Gross profit									0	0	0
Selling, General and Administrative Expense									33.7	25.3	21
Research and Development Expense									0	0	0
Impairment of goodwill and trade names									0		0
Operating Income (Loss)									(33.7)	(25.3)	(21)
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Revenue, Net									0	0
Operating activities
Net cash provided by (used for) operating activities									(48.7)	208.6
Investing activities
Capital expenditures									0	0
Proceeds from sale of property and equipment									0	0
Proceeds from sale of businesses, net										0
Acquisitions, net of cash acquired									0	0
Intercompany Loan Activity, Net									0	0
Other									0	0
Net Cash Provided by (Used in) Investing Activities, Continuing Operations									0
Net Cash Provided by (Used in) Investing Activities									0	0
Financing activities
Net receipts (repayments) of short-term borrowings									0	0
Net receipts of commercial paper and revolving long-term debt									0	0
Proceeds from long-term debt									0	0
Repayment of long-term debt									0	0
Debt issuance costs									0	0
Net change in advances to subsidiaries									48.7	(208.6)
Excess tax benefits from share-based compensation									0	0
Shares issued to employees, net of shares withheld									0	0
Repurchases of ordinary shares									0	0
Dividends paid									0	0
Distributions to noncontrolling interest										0
Net cash provided by (used for) financing activities									48.7	(208.6)
Effect of exchange rate changes on cash and cash equivalents									0	0
Change in cash and cash equivalents									0	0
Cash and cash equivalents, beginning of year				0				0	0	0
Cash and cash equivalents, end of year	0				0				0	0	0
Cost of goods sold									0	0
Gross profit									0	0
Selling, General and Administrative Expense									2.2	2.6
Research and Development Expense									0	0
Impairment of goodwill and trade names									0
Operating Income (Loss)									(2.2)	(2.6)
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Revenue, Net									0	0	0
Operating activities
Net cash provided by (used for) operating activities									(5.8)	207	514
Investing activities
Capital expenditures									0	0	0
Proceeds from sale of property and equipment									0	0	0
Proceeds from sale of businesses, net										0	0
Acquisitions, net of cash acquired									0	0	0
Intercompany Loan Activity, Net									891	37.8
Other									0	0	0
Net Cash Provided by (Used in) Investing Activities, Continuing Operations									891
Net Cash Provided by (Used in) Investing Activities									891	37.8	0
Financing activities
Net receipts (repayments) of short-term borrowings									0	0
Net receipts of commercial paper and revolving long-term debt									346.9	458.7	104.2
Proceeds from long-term debt									1,714.8	0	0
Repayment of long-term debt									(350)	0	0
Debt issuance costs									(26.8)	(3.1)	(1.4)
Debt extinguishment costs											0
Net change in advances to subsidiaries									(2,553.7)	(747.3)	(569.8)
Excess tax benefits from share-based compensation									0	0	0
Shares issued to employees, net of shares withheld									0	0	0
Repurchases of ordinary shares									0	0	0
Dividends paid									0	0	0
Distributions to noncontrolling interest										0	0
Net cash provided by (used for) financing activities									(868.8)	(291.7)	(467)
Effect of exchange rate changes on cash and cash equivalents									(16.4)	0	0
Change in cash and cash equivalents									0	(46.9)	47
Cash and cash equivalents, beginning of year				0.1				47	0.1	47	0
Cash and cash equivalents, end of year	0.1				0.1				0.1	0.1	47
Cost of goods sold									0	0	0
Gross profit									0	0	0
Selling, General and Administrative Expense									5.3	7.7	13.3
Research and Development Expense									0	0	0
Impairment of goodwill and trade names									0		0
Operating Income (Loss)									(5.3)	(7.7)	(13.3)
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Revenue, Net									6,449	7,039	6,999.7
Operating activities
Net cash provided by (used for) operating activities									767.1	1,093.8	977.5
Investing activities
Capital expenditures									(134.3)	(129.6)	(170)
Proceeds from sale of property and equipment									27.3	13.1	6
Proceeds from sale of businesses, net										0.3	43.5
Acquisitions, net of cash acquired									(1,913.9)	(12.3)	(92.4)
Intercompany Loan Activity, Net									(295)	112.2
Other									(3.6)	0.2	1.7
Net Cash Provided by (Used in) Investing Activities, Continuing Operations									(2,319.5)
Cash Provided by (Used in) Investing Activities, Discontinued Operations									59
Net Cash Provided by (Used in) Investing Activities									(2,260.5)	(16.1)	(211.2)
Financing activities
Net receipts (repayments) of short-term borrowings									(2.3)	0.5
Net receipts of commercial paper and revolving long-term debt									16.6	9.9	0
Proceeds from long-term debt									0	2.2	0.7
Repayment of long-term debt									(6.6)	(16.8)	(7.4)
Debt issuance costs									0	0	0
Debt extinguishment costs											0
Net change in advances to subsidiaries									1,507	(605.2)	(188.5)
Excess tax benefits from share-based compensation									6	12.6	16.8
Shares issued to employees, net of shares withheld									16.4	37	80
Repurchases of ordinary shares									0	(450.8)	(715.8)
Dividends paid									0	0	0
Distributions to noncontrolling interest										(134.7)	(2)
Net cash provided by (used for) financing activities									1,537.1	(1,145.3)	(816.2)
Effect of exchange rate changes on cash and cash equivalents									(27.8)	(30.6)	21
Change in cash and cash equivalents									15.9	(98.2)	(28.9)
Cash and cash equivalents, beginning of year				110.3				208.5	110.3	208.5	237.4
Cash and cash equivalents, end of year	126.2				110.3				126.2	110.3	208.5
Cost of goods sold									4,263.2	4,576	4,629.6
Gross profit									2,185.8	2,463	2,370.1
Selling, General and Administrative Expense									1,293.1	1,458.2	1,459.4
Research and Development Expense									119.6	117.3	122.8
Impairment of goodwill and trade names									554.7		11
Operating Income (Loss)									218.4	887.5	776.9
Eliminations
Condensed Financial Statements, Captions [Line Items]
Revenue, Net									0	0	0
Operating activities
Net cash provided by (used for) operating activities									69.7	(670)	(1,097.8)
Investing activities
Capital expenditures									0	0	0
Proceeds from sale of property and equipment									0	0	0
Proceeds from sale of businesses, net										0	0
Acquisitions, net of cash acquired									0	0	0
Intercompany Loan Activity, Net									(596)	(150)
Other									0	0	0
Net Cash Provided by (Used in) Investing Activities, Continuing Operations									(596)
Cash Provided by (Used in) Investing Activities, Discontinued Operations									0
Net Cash Provided by (Used in) Investing Activities									(596)	(150)	0
Financing activities
Net receipts (repayments) of short-term borrowings									0	0
Net receipts of commercial paper and revolving long-term debt									0	0	0
Proceeds from long-term debt									0	0	0
Repayment of long-term debt									0	0	0
Debt issuance costs									0	0	0
Debt extinguishment costs											0
Net change in advances to subsidiaries									526.3	820	1,097.8
Excess tax benefits from share-based compensation									0	0	0
Shares issued to employees, net of shares withheld									0	0	0
Repurchases of ordinary shares									0	0	0
Dividends paid									0	0	0
Distributions to noncontrolling interest										0	0
Net cash provided by (used for) financing activities									526.3	820	1,097.8
Effect of exchange rate changes on cash and cash equivalents									0	0	0
Change in cash and cash equivalents									0	0	0
Cash and cash equivalents, beginning of year				$ 0				$ 0	0	0	0
Cash and cash equivalents, end of year	$ 0				$ 0				0	0	0
Cost of goods sold									0	0	0
Gross profit									$ 0	0	0
Selling, General and Administrative Expense										0	0
Research and Development Expense									$ 0	0	0
Impairment of goodwill and trade names									0		0
Operating Income (Loss)									$ 0	$ 0	$ 0

Schedule II - Valuation and 113

Schedule II - Valuation and Qualifying Accounts - Disclosure Table (Detail) - Allowance for Doubtful Accounts - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance		$ 42.5	$ 58.7	$ 14
Additions charged to costs and expenses		21	(1.2)	49.7
Deductions	[1]	7.1	11.5	2.4
Other changes	[2]	(4.6)	(3.5)	(2.6)
Ending balance		$ 51.8	$ 42.5	$ 58.7
[1]	Uncollectible accounts written off, net of recoveries
[2]	Result of foreign currency effects