Pentair (PNR) 10-Q 20 Apr 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2018shares
Document Information [Line Items]
Entity Registrant Name	PENTAIR plc
Entity Central Index Key	77,360
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Trading Symbol	PNR
Entity Common Stock, Shares Outstanding	178,386,369

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Net sales	$ 1,269.7	$ 1,183.5
Cost of goods sold	807.7	761.2
Gross profit	462	422.3
Selling, general and administrative	279.6	251.7
Research and development	30.1	30
Operating income	152.3	140.6
Other (income) expense:
Loss on sale of business	5.3	0
Net interest expense	13.8	35
Other expense	1.4	2
Income from continuing operations before income taxes	131.8	103.6
Provision for income taxes	27.6	22.9
Net income from continuing operations	104.2	80.7
(Loss) income from discontinued operations, net of tax	(1.3)	7.1
Net income	102.9	87.8
Comprehensive income, net of tax
Net income	102.9	87.8
Changes in cumulative translation adjustment	2.4	75.7
Changes in market value of derivative financial instruments, net of tax	(3.8)	1.6
Comprehensive income	$ 101.5	$ 165.1
Earnings (loss) Per Share, Basic
Continuing operations (in dollars per share)	$ 0.58	$ 0.44
Discontinued operations (in dollars per share)	(0.01)	0.04
Basic earnings (loss) per ordinary share (in dollars per share)	0.57	0.48
Earnings (loss) Per Share, Diluted
Continuing operations (in dollars per share)	0.58	0.44
Discontinued operations (in dollars per share)	(0.01)	0.04
Diluted earnings (loss) per ordinary share (in dollars per share)	$ 0.57	$ 0.48
Weighted average ordinary shares outstanding
Basic (shares)	179.2	182
Diluted (shares)	181.5	184
Cash dividends paid per ordinary share	$ 0.35	$ 0.345

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 907.5	$ 113.3
Accounts and notes receivable, net of allowances of $17.9 and $22.6, respectively	985.2	831.6
Inventories	593.5	581
Other current assets	232.8	222.9
Total current assets	2,719	1,748.8
Property, plant and equipment, net	546.5	545.5
Other assets
Goodwill	4,380.1	4,351.1
Intangibles, net	1,536.5	1,558.4
Other non-current assets	186	429.9
Total other assets	6,102.6	6,339.4
Total assets	9,368.1	8,633.7
Current liabilities
Current maturities of long-term debt and short-term borrowings	0.2	0
Accounts payable	404	495.7
Employee compensation and benefits	142.7	186.6
Other current liabilities	480.6	517.1
Total current liabilities	1,027.5	1,199.4
Other liabilities
Long-term debt	2,673.1	1,440.7
Pension and other post-retirement compensation and benefits	291.9	285.6
Deferred tax liabilities	369.1	394.8
Other non-current liabilities	286.8	275.4
Total liabilities	4,648.4	3,595.9
Equity
Ordinary shares $0.01 par value, 426.0 authorized, 178.4 and 180.3 issued at March 31, 2018 and December 31, 2017, respectively	1.8	1.8
Additional paid-in capital	2,654.7	2,797.7
Retained earnings	2,308	2,481.7
Accumulated other comprehensive loss	(244.8)	(243.4)
Total equity	4,719.7	5,037.8
Total liabilities and equity	$ 9,368.1	$ 8,633.7

Condensed Consolidated Balance4

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Accounts and notes receivable, allowances	$ 17.9	$ 22.6
Ordinary shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	426,000,000	426,000,000
Common shares issued (in shares)	178,400,000	180,300,000

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities
Net income	$ 102.9	$ 87.8
Loss (income) from discontinued operations, net of tax	1.3	(7.1)
Adjustments to reconcile net income from continuing operations to net cash provided by (used for) operating activities of continuing operations
Equity income of unconsolidated subsidiaries	(0.6)	(0.2)
Depreciation	21.5	21.4
Amortization	24.7	24
Deferred income taxes	(10.6)	(4.7)
Loss on sale of business	5.3	0
Share-based compensation	6	16.4
Changes in assets and liabilities, net of effects of business acquisitions
Accounts and notes receivable	(146.9)	(130.6)
Inventories	(6.3)	(8.6)
Other current assets	(2.4)	(18)
Accounts payable	(94.2)	(55.9)
Employee compensation and benefits	(46.6)	(23.9)
Other current liabilities	(20.8)	15.8
Other non-current assets and liabilities	(0.2)	(5.1)
Net cash provided by (used for) operating activities of continuing operations	(166.9)	(88.7)
Net cash provided by (used for) operating activities of discontinued operations	(0.7)	(17.3)
Net cash provided by (used for) operating activities	(167.6)	(106)
Investing activities
Capital expenditures	(16.8)	(23.6)
Proceeds from sale of property and equipment	2.3	0
Payments due to the sale of businesses, net	(13.8)	0
Acquisitions, net of cash acquired	(2.9)	(56.7)
Net cash provided by (used for) investing activities of continuing operations	(31.2)	(80.3)
Net cash provided by (used for) investing activities of discontinued operations	0	(3.7)
Net cash provided by (used for) investing activities	(31.2)	(84)
Financing activities
Net receipts (repayments) of short-term borrowings	0.2	(0.1)
Net receipts of commercial paper and revolving long-term debt	417.5	229.1
Proceeds from long-term debt	800	0
Debt issuance costs	(7.5)	0
Shares issued to employees, net of shares withheld	0.9	2.8
Repurchases of ordinary shares	(150)	0
Dividends paid	(63.3)	(62.8)
Net cash provided by (used for) financing activities	997.8	169
Effect of exchange rate changes on cash and cash equivalents	(4.8)	20.6
Change in cash and cash equivalents	794.2	(0.4)
Cash and cash equivalents, beginning of period	113.3	238.5
Cash and cash equivalents, end of period	$ 907.5	$ 238.1

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Changes in Equity - USD ($) shares in Millions, $ in Millions	Total	Ordinary shares	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss
Beginning Balance at Dec. 31, 2016	$ 4,254.4	$ 1.8	$ 2,920.8	$ 2,068.1	$ (736.3)
Beginning Balance (in shares) at Dec. 31, 2016		181.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	87.8			87.8
Other comprehensive income, net of tax	77.3				77.3
Dividends declared	(64)			(64)
Exercise of options, net of shares tendered for payment	9.5		9.5
Exercise of options, net of shares tendered for payment (in shares)		0.2
Issuance of restricted shares, net of cancellations (in shares)		0.3
Issuance of restricted shares, net of cancellations	0.1	$ 0.1
Shares surrendered by employees to pay taxes	(6.7)		(6.7)
Shares surrendered by employees to pay taxes (in shares)		(0.1)
Share-based compensation	16.4		16.4
Ending Balance (in shares) at Mar. 31, 2017		182.2
Ending Balance at Mar. 31, 2017	4,374.8	$ 1.9	2,940	2,091.9	(659)
Beginning Balance at Dec. 31, 2017	5,037.8	$ 1.8	2,797.7	2,481.7	(243.4)
Beginning Balance (in shares) at Dec. 31, 2017		180.3
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	102.9
Other comprehensive income, net of tax	(1.4)				(1.4)
Dividends declared	(62.6)			(62.6)
Stock Repurchased During Period, Value	(150)		(150)
Stock Repurchased During Period, Shares		(2.2)
Exercise of options, net of shares tendered for payment	5.8		5.8
Exercise of options, net of shares tendered for payment (in shares)		0.1
Issuance of restricted shares, net of cancellations (in shares)		0.3
Issuance of restricted shares, net of cancellations	0	$ 0
Shares surrendered by employees to pay taxes	(4.8)		(4.8)
Shares surrendered by employees to pay taxes (in shares)		(0.1)
Share-based compensation	6		6
Ending Balance (in shares) at Mar. 31, 2018		178.4
Ending Balance at Mar. 31, 2018	4,719.7	$ 1.8	$ 2,654.7	2,308	$ (244.8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of accounting changes	$ (214)			$ (214)

Basis of Presentation and Respo

Basis of Presentation and Responsibility for Interim Financial Statements	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation and Responsibility for Interim Financial Statements	Basis of Presentation and Responsibility for Interim Financial Statements The accompanying unaudited condensed consolidated financial statements of Pentair plc and its subsidiaries ("we," "us," "our," "Pentair," or the "Company") have been prepared following the requirements of the U.S. Securities and Exchange Commission ("SEC") for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by accounting principles generally accepted in the United States of America ("GAAP") can be condensed or omitted. We are responsible for the unaudited condensed consolidated financial statements included in this document. The financial statements include all normal recurring adjustments that are considered necessary for the fair presentation of our financial position and operating results. As these are condensed financial statements, one should also read our consolidated financial statements and notes thereto, which are included in our Annual Report on Form 10-K for the year ended December 31, 2017 . Revenues, expenses, cash flows, assets and liabilities can and do vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be indicative of those for a full year. Our fiscal year ends on December 31. We report our interim quarterly periods on a calendar quarter basis. Electrical separation On April 3, 2018, our Board of Directors formally approved the plan to separate our Water business and Electrical business into two independent, publicly-traded companies (the "Separation") and certain details related to the Separation, including the record date, distribution date and distribution ratio. The Separation will occur by means of a distribution of the Company’s Electrical business, to be effected by the transfer of the Electrical business from the Company to nVent Electric plc (“nVent”) and the issuance of ordinary shares of nVent directly to holders of Company ordinary shares on a pro rata basis (the “Distribution”). The Distribution is expected to occur at 4:59 p.m., Eastern Time, on April 30, 2018. Each Company shareholder will receive one ordinary share of nVent for every one ordinary share of Pentair held as of the close of business on April 17, 2018, the record date for the Distribution. nVent ordinary shares are expected to begin trading on the New York Stock Exchange on May 1, 2018, under the symbol "NVT." "When-issued" trading for nVent ordinary shares began on April 16, 2018 and will continue through April 30, 2018. Beginning on April 16, 2018 and continuing through April 30, 2018, there are two markets in Pentair ordinary shares: Pentair shares that trade in the "regular way" market trade with an entitlement to nVent ordinary shares to be distributed pursuant to the Distribution and Pentair shares that trade in the "ex-distribution" market trade without an entitlement to nVent ordinary shares. Upon completion of the Separation, Electrical's jurisdiction of organization will be Ireland, but it will manage its affairs so that it will be centrally managed and controlled in the United Kingdom (the "U.K.") and therefore will have its tax residency in the U.K. The disclosures and financial statements within these condensed consolidated financial statements include the results of operations, financial condition and cash flows of the Electrical business as continuing operations. Adoption of new accounting standards On January 1, 2018, we adopted Accounting Standards Update ("ASU") No. 2017-07, "Retirement Benefits-Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost." As a result of the adoption, the interest cost, expected return on plan assets and net actuarial gain/loss components of net periodic pension and post-retirement benefit cost have been reclassified from Selling, general and administrative expense to Other expense . Only the service cost component remains in Operating income and will be eligible for capitalization in assets on a prospective basis. The effect of the retrospective presentation change related to the net periodic cost of our defined benefit pension and other post-retirement plans on our Condensed Consolidated Statements of Operations and Comprehensive Income was as follows: Three months ended In millions Previously Reported As Revised Effect of Change Selling, general and administrative expenses $ 253.9 $ 251.7 $ (2.2 ) Operating income 138.4 140.6 2.2 Other expense — 2.2 2.2 On January 1, 2018, we adopted ASU No. 2016-16, "Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory." The ASU requires the tax effects of all intra-entity sales of assets other than inventory to be recognized in the period in which the transaction occurs. The adoption resulted in a $215.8 million cumulative-effect adjustment recorded in retained earnings as of the beginning of 2018 that reflects a $254.3 million reduction of a prepaid long term tax asset, partially offset by the establishment of $38.5 million of deferred tax assets. On January 1, 2018, we adopted ASU No. 2014-09, "Revenue from Contracts with Customers" and the related amendments ("ASC 606" or "the new revenue standard") using the modified retrospective method. As a result of adoption, the cumulative impact to our retained earnings at January 1, 2018 was $ 1.8 million . The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. We expect the impact of the adoption of the new standard to be immaterial to our net income on an ongoing basis. A majority of our net sales continue to be recognized when products are shipped from our manufacturing facilities or delivery has occurred, depending on terms of the sale. Under the new standard, timing for recognition of certain revenue may be accelerated such that a portion of revenue will be recognized prior to shipment or delivery dependent upon contract-specific terms. The impact of adopting the new standard primarily relates to the accounting for certain custom products manufactured by our Electrical segment. Previously revenue was recognized for these custom products upon shipment. However, as these products have no alternative use to the Company and we have an enforceable right to payment for our performance completed to date, revenue related to these custom products is now recognized over time. Additionally, the new revenue standard resulted in reclassifications on the Condensed Consolidated Balance Sheets related to accounting for sales returns. As required by ASC 606, the impact of adoption of the new revenue standard on our Condensed Consolidated Statements of Operations and Comprehensive Income and Condensed Consolidated Balance Sheets was as follows: Condensed Consolidated Statements of Operations and Comprehensive Income Three months ended March 31, 2018 In millions As Reported Balances without adoption of ASC 606 Effect of Change Net sales $ 1,269.7 $ 1,261.1 $ 8.6 Cost of goods sold 807.7 801.3 6.4 Provision for income taxes 27.6 27.2 0.4 Net income from continuing operations 104.2 102.4 1.8 Condensed Consolidated Balance Sheets March 31, 2018 In millions As Reported Balances without adoption of ASC 606 Effect of Change Assets Accounts and notes receivable, net $ 985.2 $ 977.3 $ 7.9 Inventories 593.5 602.6 (9.1 ) Other current assets 232.8 222.8 10.0 Liabilities Other current liabilities 480.6 473.8 6.8 Deferred tax liabilities 369.1 368.6 0.5 Equity Retained Earnings 2,308.0 2,306.4 1.6 The cumulative effect of the changes made to our January 1, 2018 Condensed Consolidated Balance Sheet from the modified retrospective adoption of ASU 2016-16 and ASU 2014-09 was as follows: Condensed Consolidated Balance Sheets In millions Balance at December 31, 2017 Adjustments due to ASU 2016-16 Adjustments due to ASU 2014-09 Balance at January 1, 2018 Assets Accounts and notes receivable, net $ 831.6 $ — $ 6.5 $ 838.1 Inventories 581.0 — (3.4 ) 577.6 Other current assets 222.9 — 3.4 226.3 Other non-current assets 429.9 (246.5 ) — 183.4 Liabilities Other current liabilities 517.1 — 6.5 523.6 Deferred tax liabilities 394.8 (30.7 ) 0.5 364.6 Equity Retained Earnings 2,481.7 (215.8 ) 1.8 2,267.7 New accounting standards issued but not yet adopted In February 2016, the Financial Accounting Standards Board issued ASU 2016-02, "Leases" ("the new lease standard" or "ASC 842"), which requires an entity to recognize both assets and liabilities arising from financing and operating leases, along with additional qualitative and quantitative disclosures. The new lease standard requirements are effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and early adoption is permitted. The Company has begun evaluating the new lease standard, including the review and implementation of the necessary changes to our existing processes and systems that will be required to implement this new standard. While we are unable to quantify the impact at this time, we expect the primary impact to our consolidated financial position upon adoption will be the recognition, on a discounted basis, of our minimum commitments under noncancelable operating leases on our consolidated balance sheets resulting in the recording of right of use assets and lease obligations. We currently do not expect ASC 842 to have a material effect on either our consolidated statement of operations or consolidated statement of cash flow. We plan to adopt ASC 842 in the first quarter of 2019.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Revenue recognition Revenue is recognized when control of the promised goods or services are transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for transferring those goods or providing services. We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable. When determining whether the customer has obtained control of the goods or services, we consider any future performance obligations. 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 Pentair has substantially accomplished what it must do to be entitled to the benefits represented by the revenues. Performance obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in ASC 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of our contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. For contracts with multiple performance obligations, standalone selling price is generally readily observable. Our performance obligations are satisfied at a point in time or over time as work progresses. Revenue from goods and services transferred to customers at a point in time accounted for 84.3% and 90.3% of our revenue for the three-month periods ended March 31, 2018 and 2017 , respectively. Revenue on these contracts is recognized when obligations under the terms of the contract with our customer are satisfied; generally this occurs with the transfer of control upon shipment. Revenue from products and services transferred to customers over time accounted for 15.7% and 9.7% of our revenue for the three-month periods ended March 31, 2018 and 2017 , respectively. For the majority of our revenue recognized over time, we use an input measure to determine progress towards completion. Under this method, sales and gross profit are recognized as work is performed generally 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. Contract costs include labor, material, overhead and, when appropriate, general and administrative expenses. 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. For performance obligations related to long term contracts, when estimates of total costs to be incurred on a performance obligation exceed total estimates of revenue to be earned, a provision for the entire loss on the performance obligation is recognized in the period the loss is determined. We use an output method to measure progress towards completion for certain of our Electrical businesses, as this method appropriately depicts performance towards satisfaction of the performance obligation. Under the output method, revenue is recognized based on number of units produced. On March 31, 2018 , we had $168.7 million of remaining performance obligations on contracts with original expected duration of one year or more. We expect to recognize the majority of our remaining performance obligations on these contracts within the next 12 to 18 months . Sales returns The right of return may exist explicitly or implicitly with our customers. 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. When the right of return exists, we adjust the transaction price for the estimated effect of returns. We estimate the expected returns based on 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 Our sales contracts may give customers the option to purchase additional goods or services priced at a discount. Options to acquire additional goods or services at a discount can come in many forms, such as customer programs and incentive offerings including pricing arrangements, promotions and other volume-based incentives. We reduce the transaction price for certain customer programs and incentive offerings including pricing arrangements, promotions and other volume-based incentives that represent variable consideration. Sales incentives given to our customers are recorded using either the expected value method or most likely amount approach for estimating the amount of consideration to which Pentair shall be entitled. The expected value is the sum of probability-weighted amounts in a range of possible consideration amounts. An expected value is an appropriate estimate of the amount of variable consideration when there are a large number of contracts with similar characteristics. The most likely amounts is the single most likely amount in a range of possible consideration amounts (that is, the single most likely outcome of the contract). The most likely amount is an appropriate estimate of the amount of variable consideration if the contract has limited possible outcomes (for example, an entity either achieves a performance bonus or does not). 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. We use the expected value method to 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 of the transaction price. 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 most likely amount of the rebate to be paid based on forecasted sales levels. These forecasts are updated at least quarterly for each customer and the transaction price is 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 activities after the customer obtains control are treated as a promised service performance obligation and recorded in Net sales in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income. Shipping and handling costs incurred by Pentair for the delivery of goods to customers are considered a cost to fulfill the contract and are included in Cost of goods sold in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income. Contract assets and liabilities Contract assets consist of unbilled amounts resulting from sales under long-term contracts when the cost-to-cost method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer, such as when the customer retains a small portion of the contract price until completion of the contract. We typically receive interim payments on sales under long-term contracts as work progresses, although for some contracts, we may be entitled to receive an advance payment. Contract liabilities consist of advanced payments, billings in excess of costs incurred and deferred revenue. Contract assets are recorded within Other current assets and contract liabilities are recorded within Other current liabilities in the Condensed Consolidated Balance Sheets. Contract assets and liabilities consisted of the following: In millions March 31, 2018 December 31, 2017 $ Change % Change Contract assets $ 118.0 $ 121.4 $ (3.4 ) (2.8 )% Contract liabilities 41.4 43.4 (2.0 ) (4.6 )% Net contract assets $ 76.6 $ 78.0 $ (1.4 ) (1.8 )% The $1.4 million decrease in net contract assets from December 31, 2017 to March 31, 2018 was primarily the result of timing of milestone payments. Approximately half of our contract liabilities at December 31, 2017 were recognized in revenue in the first quarter of 2018 . There were no impairment losses recognized on our contract assets for the three months ended March 31, 2018 . Practical expedients and exemptions We generally expense incremental costs of obtaining a contract when incurred because the amortization period would be less than one year. These costs primarily relate to sales commissions and are recorded in Selling, general and administrative expense in the Condensed Consolidated Statements of Operations and Comprehensive Income. We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. Further, we do not adjust the promised amount of consideration for the effects of a significant financing component if we expect, at contract inception, that the period between when we transfer a promised good or service to a customer and when the customer pays for that good or service will be one year or less. Revenue by category We disaggregate our revenue from contracts with customers by geographic location, vertical and strategic business group ("SBG") for each of our segments, as we believe these best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Geographic net sales information by segment, based on geographic destination of the sale, was as follows: Three months ended March 31, 2018 In millions Water Electrical U.S. $ 452.2 $ 317.0 Western Europe 110.3 121.7 Developing (1) 113.0 56.9 Other Developed (2) 56.8 43.3 Segment net sales $ 732.3 $ 538.9 (1) Developing includes China, Eastern Europe, Latin America, the Middle East and Southeast Asia. (2) Other Developed includes Australia, Canada and Japan. Three months ended March 31, 2017 In millions Water Electrical U.S. $ 431.2 300.1 Western Europe 95.3 103.3 Developing (1) 104.9 62.1 Other Developed (2) 51.5 36.7 Segment net sales $ 682.9 $ 502.2 (1) Developing includes China, Eastern Europe, Latin America, the Middle East and Southeast Asia. (2) Other Developed includes Australia, Canada and Japan. Vertical market net sales information for Water was as follows: Three months ended In millions March 31, 2018 March 31, 2017 Residential $ 412.1 $ 388.3 Commercial 151.8 144.7 Industrial 168.4 149.9 Water net sales $ 732.3 $ 682.9 Vertical market net sales information for Electrical was as follows: Three months ended In millions March 31, 2018 March 31, 2017 Industrial $ 243.5 $ 220.5 Commercial & Residential 146.0 134.5 Energy 79.9 88.0 Infrastructure 69.5 59.2 Electrical net sales $ 538.9 $ 502.2 Net sales information by SBG was as follows: Three months ended In millions March 31, 2018 March 31, 2017 Aquatic Systems $ 240.4 $ 222.5 Filtration Solutions 251.6 230.8 Flow Technologies 240.3 229.6 Total Water 732.3 682.9 Enclosures 254.1 226.5 Thermal Management 147.9 145.4 Electrical & Fastening Solutions 136.9 130.3 Total Electrical 538.9 502.2 Other (1.5 ) (1.6 ) Consolidated net sales $ 1,269.7 $ 1,183.5

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure	Discontinued Operations On April 28, 2017, we completed the sale of the Valves & Controls business to Emerson Electric Co. for $3.15 billion in cash. The sale resulted in a gain of $181.1 million , net of tax. The results of the Valves & Controls business have been presented as discontinued operations. The Valves & Controls business was previously disclosed as a stand-alone reporting segment. Transaction costs of $11.2 million related to the sale of Valves & Controls were incurred during the three months ended March 31, 2017 and were recorded within (Loss) income from discontinued operations, net of tax presented below. Operating results of discontinued operations are summarized below: Three months ended In millions March 31, March 31, Net sales $ — $ 356.5 Cost of goods sold — 267.9 Gross profit — 88.6 Selling, general and administrative — 79.5 Research and development — 4.2 Operating income $ — $ 4.9 (Loss) income from discontinued operations before income taxes $ (0.7 ) $ 5.7 Income tax provision (benefit) 0.6 (1.4 ) (Loss) income from discontinued operations, net of tax $ (1.3 ) $ 7.1

Share Plans

Share Plans	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share Plans	Share Plans Total share-based compensation expense for the three months ended March 31, 2018 and 2017 was as follows: Three months ended In millions March 31, March 31, Restricted stock units $ 2.4 $ 5.8 Stock options 1.2 4.5 Performance share units 2.4 6.1 Total share-based compensation expense $ 6.0 $ 16.4
Share-based Compensation Expense	Total share-based compensation expense for the three months ended March 31, 2018 and 2017 was as follows: Three months ended In millions March 31, March 31, Restricted stock units $ 2.4 $ 5.8 Stock options 1.2 4.5 Performance share units 2.4 6.1 Total share-based compensation expense $ 6.0 $ 16.4

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2018
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring During the three months ended March 31, 2018 and the year ended December 31, 2017 , we initiated and continued execution of certain business restructuring initiatives aimed at reducing our fixed cost structure and realigning our business, specifically as part of the contemplation of the Separation. Initiatives during the three months ended March 31, 2018 included the reduction in hourly and salaried headcount of 200 employees, which included 175 in Water and 25 in Electrical. Initiatives during the year ended December 31, 2017 included the reduction in hourly and salaried headcount of approximately 500 employees, which included 250 in Water and 250 in Electrical. Restructuring related costs included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations and Comprehensive Income included costs for severance and other restructuring costs as follows: Three months ended In millions March 31, March 31, Severance and related costs $ 10.6 $ 20.6 Other 0.2 0.3 Total restructuring costs $ 10.8 $ 20.9 Other restructuring costs primarily consist of asset impairment and various contract termination costs. Restructuring costs by reportable segment were as follows: Three months ended In millions March 31, March 31, Water $ 5.6 $ 7.1 Electrical 2.8 9.3 Other 2.4 4.5 Consolidated $ 10.8 $ 20.9 Activity related to accrued severance and related costs recorded in Other current liabilities in the Condensed Consolidated Balance Sheets is summarized as follows for the three months ended March 31, 2018 : In millions March 31, Beginning balance $ 39.8 Costs incurred 10.6 Cash payments and other (16.3 ) Ending balance $ 34.1

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic and diluted earnings per share were calculated as follows: Three months ended In millions, except per-share data March 31, March 31, Net income $ 102.9 $ 87.8 Net income from continuing operations $ 104.2 $ 80.7 Weighted average ordinary shares outstanding Basic 179.2 182.0 Dilutive impact of stock options, restricted stock units and performance share units 2.3 2.0 Diluted 181.5 184.0 Earnings (loss) per ordinary share Basic Continuing operations $ 0.58 $ 0.44 Discontinued operations (0.01 ) 0.04 Basic earnings per ordinary share $ 0.57 $ 0.48 Diluted Continuing operations $ 0.58 $ 0.44 Discontinued operations (0.01 ) 0.04 Diluted earnings per ordinary share $ 0.57 $ 0.48 Anti-dilutive stock options excluded from the calculation of diluted earnings per share 0.4 1.8

Supplemental Balance Sheet Info

Supplemental Balance Sheet Information	3 Months Ended
	Mar. 31, 2018
Disclosure Supplemental Balance Sheet Information [Abstract]
Supplemental Balance Sheet Information	plemental Balance Sheet Information In millions March 31, December 31, Inventories Raw materials and supplies $ 255.7 $ 255.1 Work-in-process 86.3 83.0 Finished goods 251.5 242.9 Total inventories $ 593.5 $ 581.0 Other current assets Cost in excess of billings $ 118.0 $ 121.4 Prepaid expenses 78.9 80.7 Prepaid income taxes 26.0 15.3 Other current assets 9.9 5.5 Total other current assets $ 232.8 $ 222.9 Property, plant and equipment, net Land and land improvements $ 73.6 $ 72.6 Buildings and leasehold improvements 361.4 354.5 Machinery and equipment 1,026.6 1,011.6 Construction in progress 38.0 35.1 Total property, plant and equipment 1,499.6 1,473.8 Accumulated depreciation and amortization 953.1 928.3 Total property, plant and equipment, net $ 546.5 $ 545.5 Other non-current assets Prepaid income taxes $ — $ 254.3 Deferred income taxes 54.3 43.0 Deferred compensation plan assets 43.6 49.4 Other non-current assets 88.1 83.2 Total other non-current assets $ 186.0 $ 429.9 Other current liabilities Dividends payable $ 62.4 $ 63.1 Accrued warranty 45.2 41.0 Accrued rebates 71.9 92.7 Billings in excess of cost 30.2 29.9 Income taxes payable 23.9 31.1 Accrued restructuring 34.1 39.8 Other current liabilities 212.9 219.5 Total other current liabilities $ 480.6 $ 517.1 Other non-current liabilities Income taxes payable $ 92.3 $ 92.7 Self-insurance liabilities 51.1 48.3 Deferred compensation plan liabilities 43.6 49.4 Foreign currency contract liabilities 62.2 47.2 Other non-current liabilities 37.6 37.8 Total other non-current liabilities $ 286.8 $ 275.4

Goodwill and Other Identifiable

Goodwill and Other Identifiable Intangible Assets	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Identifiable Intangible Assets	Goodwill and Other Identifiable Intangible Assets The changes in the carrying amount of goodwill by segment were as follows: In millions December 31, Foreign currency translation/other March 31, Water $ 2,112.9 $ 25.9 $ 2,138.8 Electrical 2,238.2 3.1 2,241.3 Total goodwill $ 4,351.1 $ 29.0 $ 4,380.1 Identifiable intangible assets consisted of the following: March 31, December 31, In millions Cost Accumulated amortization Net Cost Accumulated amortization Net Definite-life intangibles Customer relationships $ 1,514.9 $ (460.5 ) $ 1,054.4 $ 1,513.9 $ (437.5 ) $ 1,076.4 Trade names 1.5 (1.5 ) — 1.5 (1.4 ) 0.1 Proprietary technology and patents 133.7 (98.4 ) 35.3 131.9 (94.2 ) 37.7 Total definite-life intangibles 1,650.1 (560.4 ) 1,089.7 1,647.3 (533.1 ) 1,114.2 Indefinite-life intangibles Trade names 446.8 — 446.8 444.2 — 444.2 Total intangibles $ 2,096.9 $ (560.4 ) $ 1,536.5 $ 2,091.5 $ (533.1 ) $ 1,558.4 Identifiable intangible asset amortization expense was $24.7 million and $24.0 million for the three months ended March 31, 2018 and 2017 , respectively. Estimated future amortization expense for identifiable intangible assets during the remainder of 2018 and the next five years is as follows: Q2-Q4 In millions 2018 2019 2020 2021 2022 2023 Estimated amortization expense $ 72.0 $ 89.4 $ 84.1 $ 77.5 $ 69.8 $ 67.2

Debt

Debt	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt	Debt Debt and the average interest rates on debt outstanding were as follows: In millions Average interest rate as of March 31, 2018 Maturity Year March 31, December 31, Commercial paper 2.340% 2019 $ 257.8 $ 34.0 Revolving credit facilities 3.430% 2019 222.1 28.4 Senior notes - fixed rate (1) 2.900% 2018 255.3 255.3 Senior notes - fixed rate (1) 2.650% 2019 250.0 250.0 Senior notes - fixed rate - Euro (1) 2.450% 2019 615.4 594.4 Senior notes - fixed rate (1) 3.625% 2020 74.0 74.0 Senior notes - fixed rate (1) 5.000% 2021 103.8 103.8 Senior notes - fixed rate (1) 3.150% 2022 88.3 88.3 Senior notes - fixed rate (1) 4.650% 2025 19.3 19.3 Senior notes - fixed rate - nVent (2) 3.950% 2023 300.0 — Senior notes - fixed rate - nVent (2) 4.550% 2028 500.0 — Other 8.545% 2018 0.2 — Unamortized debt issuance costs and discounts N/A N/A (12.9 ) (6.8 ) Total debt 2,673.3 1,440.7 Less: Current maturities and short-term borrowings (0.2 ) — Long-term debt $ 2,673.1 $ 1,440.7 (1) Senior notes are guaranteed as to payment by Pentair plc and PISG (2) Senior notes are guaranteed as to payment by nVent plc, Pentair plc and PISG Separation related debt In March 2018, in anticipation of the Separation, nVent Finance S.à r.l. (“nVent Finance”), a subsidiary of Pentair that will become a subsidiary of nVent at the time of the completion of the Separation, issued $300.0 million aggregate principal amount of 3.950% senior notes due 2023 (the "2023 Notes") and $500.0 million aggregate principal amount of 4.550% senior notes due 2028 (the "2028 Notes" and, collectively with the 2023 Notes, the "nVent Notes"). The nVent Notes are fully and unconditionally guaranteed by nVent. In addition, the nVent Notes initially are fully and unconditionally guaranteed by Pentair and Pentair Investments Switzerland GmbH ("PISG"). Upon completion of the Separation, the guarantees of Pentair and PISG will be automatically and unconditionally terminated and released. Additionally in March 2018, in anticipation of the Separation, nVent Finance entered into a credit agreement with a syndicate of banks providing for a five -year $200.0 million senior unsecured term loan facility (the "nVent Term Loan Facility") and a five -year $600.0 million senior unsecured revolving credit facility (the "nVent Revolving Credit Facility"). After the completion of the Separation, nVent Finance will have the option to request to increase the nVent Revolving Credit Facility in an aggregate amount of up to $300.0 million , subject to customary conditions, including the commitment of the participating lenders. As of March 31, 2018, there were no outstanding borrowings under the nVent Term Loan Facility or the nVent Revolving Credit Facility. We expect that nVent Finance will have $200.0 million of borrowings outstanding under the nVent Term Loan Facility and no borrowings under the nVent Revolving Credit Facility at the time of the Separation. In connection with the Separation, nVent Finance will transfer to Pentair all cash in excess of $50.0 million of nVent and its subsidiaries, including cash from the net proceeds from the borrowings under the nVent Term Loan Facility and the issuance of the nVent Notes, as consideration for the contribution of the assets of the Electrical business to nVent Finance by Pentair. Pentair expects to use the proceeds of such cash transfer to repay certain outstanding debt of Pentair. Other debt matters Pentair, PISG, Pentair Finance S.à r.l. ("PFSA") and Pentair, Inc. are parties to an amended and restated credit agreement (the "Credit Facility"), with Pentair and PISG as guarantors and PFSA and Pentair, Inc. as borrowers. The Credit Facility has a maximum aggregate availability of $2,500.0 million and a maturity date of October 3, 2019. Borrowings under the 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 Credit Facility. PFSA is authorized to sell short-term commercial paper notes to the extent availability exists under the Credit Facility. PFSA uses the Credit Facility as back-up liquidity to support 100% of commercial paper outstanding. PFSA had $257.8 million of commercial paper outstanding as of March 31, 2018 and $34.0 million as of December 31, 2017 , all of which was classified as long-term debt as we have the intent and the ability to refinance such obligations on a long-term basis under the Credit Facility. Our debt agreements contain certain financial covenants, the most restrictive of which are in the 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 connection with certain acquisitions, investments, dispositions and the issuance, repayment or refinancing of debt, ("EBITDA") for the four consecutive fiscal quarters then ended (the "Leverage Ratio") to exceed 3.50 to 1.00 as of the last day of any period of four consecutive fiscal quarters 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 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 March 31, 2018 , we were in compliance with all financial covenants in our debt agreements . Total availability under the Credit Facility was $2,220.1 million as of March 31, 2018 , which was limited to $183.4 million by the maximum Leverage Ratio in the Credit Facility's credit agreement. In addition to the Credit Facility, we have various other credit facilities with an aggregate availability of $31.2 million , of which there were $0.2 million outstanding borrowings at March 31, 2018 . Borrowings under these credit facilities bear interest at variable rates. We have $255.3 million of fixed rate senior notes maturing in September 2018. We classified this debt as long-term as of March 31, 2018 as we have the intent and ability to refinance such obligation on a long-term basis under the Credit Facility prior to maturity. Debt outstanding, excluding unamortized issuance costs and discounts, at March 31, 2018 matures on a calendar year basis as follows: Q2-Q4 In millions 2018 2019 2020 2021 2022 2023 Thereafter Total Contractual debt obligation maturities $ 0.2 $ 1,600.6 $ 74.0 $ 103.8 $ 88.3 $ 300.0 $ 519.3 $ 2,686.2

Derivatives and Financial Instr

Derivatives and Financial Instruments	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
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 March 31, 2018 and December 31, 2017 , we had outstanding foreign currency derivative contracts with gross notional U.S. dollar equivalent amounts of $406.0 million and $481.4 million , respectively. The impact of these contracts on the Condensed Consolidated Statements of Operations and Comprehensive Income was not material for any period presented. Gains or losses on foreign currency contracts designated as hedges are reclassified out of Accumulated Other Comprehensive Loss ("AOCI") and into Selling, general and administrative expense in the Condensed Consolidated Statements of Operations and Comprehensive Income upon settlement. Such reclassifications during the three months ended March 31, 2018 and 2017 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 March 31, 2018 and December 31, 2017 , we had a deferred foreign currency losses of $50.6 million and $29.6 million , respectively, in AOCI associated with the net investment hedge activity. Fair value measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are classified using the following hierarchy, which is based upon the transparency of inputs to the valuation as of the measurement date: Level 1: Valuation is based on observable inputs such as quoted market prices (unadjusted) for identical assets or liabilities in active markets. Level 2: Valuation is based on inputs such as quoted market prices for similar assets or liabilities in active markets or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3: Valuation is based upon other unobservable inputs that are significant to the fair value measurement. In making fair value measurements, observable market data must be used when available. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. Fair value of financial instruments The following methods were used to estimate the fair values of each class of financial instruments: • short-term financial instruments (cash and cash equivalents, accounts and notes receivable, accounts and notes payable and variable-rate debt) — recorded amount approximates fair value because of the short maturity period; • long-term fixed-rate debt, including current maturities — fair value is based on market quotes available for issuance of debt with similar terms, which are inputs that are classified as Level 2 in the valuation hierarchy defined by the accounting guidance; • 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; and • deferred compensation plan assets (mutual funds, common/collective trusts and cash equivalents for payment of certain non-qualified benefits for retired, terminated and active employees) — fair value of mutual funds and cash equivalents are based on quoted market prices in active markets that are classified as Level 1 in the valuation hierarchy defined by the accounting guidance; fair value of common/collective trusts are based on observable 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, excluding unamortized issuance costs and discounts, were as follows: March 31, December 31, In millions Recorded Amount Fair Value Recorded Amount Fair Value Variable rate debt $ 480.1 $ 480.1 $ 62.4 $ 62.4 Fixed rate debt 2,206.1 2,250.8 1,385.1 1,424.0 Total debt $ 2,686.2 $ 2,730.9 $ 1,447.5 $ 1,486.4 Financial assets and liabilities measured at fair value on a recurring and nonrecurring basis were as follows: March 31, 2018 In millions Level 1 Level 2 Level 3 Total Recurring fair value measurements Foreign currency contract assets $ — $ 0.6 $ — $ 0.6 Foreign currency contract liabilities — (62.2 ) — (62.2 ) Deferred compensation plan assets 36.8 6.8 — 43.6 Total recurring fair value measurements $ 36.8 $ (54.8 ) $ — $ (18.0 ) December 31, 2017 In millions Level 1 Level 2 Level 3 Total Recurring fair value measurements Foreign currency contract assets $ — $ 0.6 $ — $ 0.6 Foreign currency contract liabilities — (47.2 ) — (47.2 ) Deferred compensation plan assets 42.8 6.6 — 49.4 Total recurring fair value measurements $ 42.8 $ (40.0 ) $ — $ 2.8 Nonrecurring fair value measurements (1) (1) During the fourth quarter of 2017, we completed our annual intangible assets impairment review. As a result, we recorded a pre-tax non-cash impairment charge of $25.2 million for a trade name intangible in 2017. The impairment charge reduced the carrying value of the impacted trade name intangible to $27.0 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.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We manage our affairs so that we are centrally managed and controlled in the U.K. and therefore have our tax residency in the U.K. The provision for income taxes consists of provisions for U.K. and international income taxes. We operate in an international environment with operations in various locations outside the U.K. Accordingly, the consolidated income tax rate is a composite rate reflecting the earnings in the various locations and the applicable rates. The effective income tax rate for the three months ended March 31, 2018 was 20.9% , compared to 22.1% for 2017 . We continue to actively pursue initiatives to reduce our effective tax rate. The tax rate in any quarter can be affected positively or negatively by adjustments that are required to be reported in the specific quarter of resolution. The liability for uncertain tax positions was $35.3 million and $36.6 million at March 31, 2018 and December 31, 2017 , respectively. We record penalties and interest related to unrecognized tax benefits in Provision for income taxes and Net interest expense , respectively, on the Condensed Consolidated Statements of Operations and Comprehensive Income, which is consistent with our past practices. U.S. tax reform On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law making significant changes to the Internal Revenue Code. Changes include, but are not limited to, a corporate tax rate decrease from 35% to 21% effective for tax years beginning after December 31, 2017, the transition of U.S. international taxation from a worldwide tax system to a territorial system, and a one-time transition tax on the mandatory deemed repatriation of cumulative foreign earnings as of December 31, 2017. Given the significance of the Act, Staff Accounting Bulletin No. 118 ("SAB 118") was issued to address the application of GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Act. SAB 118 allows registrants to record provisional amounts during a one year “measurement period.” The measurement period is deemed to have ended when the registrant has obtained, prepared, and analyzed the information necessary to finalize its accounting. During the measurement period, impacts of the law are expected to be recorded at the time a reasonable estimate for all or a portion of the effects can be made, and provisional amounts can be recognized and adjusted as information becomes available, prepared, or analyzed. The Company calculated its best estimate of the impact of the Act in its December 31, 2017 income tax provision in accordance with its understanding of the Act and guidance available as of the date of the filing of the Annual Report on Form 10-K and as a result recorded a provisional income tax benefit of $84.8 million in the fourth quarter of 2017, the period in which the legislation was enacted. The provisional amount related to the remeasurement of certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future was a decrease to income tax expense of $147.7 million . The remeasurement of deferred taxes requires further analysis regarding the state tax impacts of the remeasurement, the impact of the Act on the taxation of executive compensation arrangements, changes to tax capitalization provisions and other aspects of the Act that may impact our tax balances. The amount related to the one-time transition tax on the mandatory deemed repatriation of foreign earnings was an increase to income tax expense of $62.9 million . The determination of the transition tax requires additional analysis regarding the amount and composition of the Company’s historical foreign earnings and foreign tax credit position. We have not made any additional measurement-period adjustments related to these items during the quarter. However, we are continuing to gather additional information to complete our accounting for these items and expect to complete the analysis required to complete our accounting within the prescribed measurement period.

Benefit Plans

Benefit Plans	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Benefit Plans	Benefit Plans Components of net periodic benefit cost for our pension plans for the three months ended March 31, 2018 and 2017 were as follows: U.S. pension plans Three months ended In millions March 31, March 31, Service cost $ 0.8 $ 2.6 Interest cost 3.0 4.1 Expected return on plan assets (2.2 ) (2.9 ) Net periodic benefit cost $ 1.6 $ 3.8 Non-U.S. pension plans Three months ended In millions March 31, March 31, Service cost $ 1.8 $ 1.8 Interest cost 1.1 0.9 Expected return on plan assets (0.4 ) (0.3 ) Net periodic benefit cost $ 2.5 $ 2.4 As described in Note 1, during the first quarter of 2018, the Company adopted ASU 2017-07. As a result, service costs are classified as employee compensation costs within Cost of goods sold and Selling, general and administrative expense within the Condensed Consolidated Statements of Operations and Comprehensive Income. All other components of net periodic benefit cost are classified within Other expense for the periods presented. Components of net periodic benefit cost for our other post-retirement plans for the three months ended March 31, 2018 and 2017 were not material.

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2018
Shareholders' Equity	Shareholders' Equity Share repurchases In December 2014, the Board of Directors authorized the repurchase of our ordinary shares up to a maximum dollar limit of $1.0 billion . The authorization expires on December 31, 2019 . During the three months ended March 31, 2018 , we repurchased 2.2 million of our shares for $150.0 million pursuant to this authorization. As of March 31, 2018 , we had $450.0 million available for share repurchases under this authorization. Dividends payable On December 5, 2017, the Board of Directors declared a quarterly cash dividend of $0.35 that was paid on February 9, 2018 to shareholders on record at the close of business on January 26, 2018 and approved a plan to increase the 2018 annual cash dividend to $1.40 , which is intended to be paid in four quarterly installments. Additionally, on February 27, 2018 the Board of Directors declared a quarterly cash dividend of $0.35 payable on April 27, 2018 to shareholders of record at the close of business on April 13, 2018. As a result, the balance of dividends payable included in Other current liabilities on our Condensed Consolidated Balance Sheets was $62.4 million and $63.1 million at March 31, 2018 and December 31, 2017 , respectively.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information	Segment Information We evaluate performance based on 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. Segment income (loss) represents equity income of unconsolidated subsidiaries and operating income exclusive of intangible amortization, certain acquisition related expenses, costs of restructuring activities, impairments and other unusual non-operating items. Financial information by reportable segment is as follows: Three months ended In millions March 31, March 31, Net sales Water $ 732.3 $ 682.9 Electrical 538.9 502.2 Other (1.5 ) (1.6 ) Consolidated $ 1,269.7 $ 1,183.5 Segment income (loss) Water $ 132.7 $ 116.1 Electrical 106.3 104.3 Other (28.5 ) (34.7 ) Consolidated $ 210.5 $ 185.7 The following table presents a reconciliation of consolidated segment income to consolidated income from continuing operations before income taxes: Three months ended In millions March 31, March 31, Segment income $ 210.5 $ 185.7 Restructuring and other (8.3 ) (20.9 ) Intangible amortization (24.7 ) (24.0 ) Loss on sale of business (5.3 ) — Separation costs (24.6 ) — Net interest expense (13.8 ) (35.0 ) Other expense (2.0 ) (2.2 ) Income from continuing operations before income taxes $ 131.8 $ 103.6

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies	Commitments and Contingencies 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 position, results of operations or cash flows. We recognize, at the inception of a guarantee, a liability for the fair value of the obligation undertaken in issuing the guarantee. In connection with the disposition of the Valves & Controls business, we agreed to indemnify Emerson Electric Co. for certain pre-closing tax liabilities. During the second quarter of 2017, we recorded a liability representing the fair value of our expected future obligation for this matter. 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 of continuing operations for the three months ended March 31, 2018 were as follows: In millions March 31, Beginning balance $ 41.0 Service and product warranty provision 16.5 Payments (12.4 ) Foreign currency translation 0.1 Ending balance $ 45.2 Stand-by letters of credit, bank guarantees and bonds In certain situations, Tyco International Ltd., Pentair Ltd.'s former parent company ("Tyco"), guaranteed performance by the flow control business of Pentair Ltd. ("Flow Control") to third parties or provided financial guarantees for financial commitments of 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 March 31, 2018 and December 31, 2017 , the outstanding value of bonds, letters of credit and bank guarantees totaled $189.7 million and $201.5 million , respectively.

Financial Statements of Parent

Financial Statements of Parent Company Guarantor	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Financial Statements of Parent Company Guarantor	Supplemental Guarantor Information Pentair plc (the "Parent Company Guarantor") and PISG (the "Subsidiary Guarantor"), fully and unconditionally, guarantee the Notes of PFSA (the "Subsidiary Issuer"). The Subsidiary Guarantor is a Switzerland limited liability company and 100 percent -owned subsidiary of the Parent Company Guarantor. The Subsidiary Issuer is a Luxembourg private limited liability company and 100 percent -owned subsidiary of the Subsidiary Guarantor. The guarantees provided by the Parent Company Guarantor and Subsidiary Guarantor are joint and several. The following supplemental financial information sets forth the Company's Condensed Consolidating Statement of Operations and Comprehensive Income (Loss), Condensed Consolidating Balance Sheets and Condensed Consolidating Statement of Cash Flows by relevant group within the Company: Pentair plc and PISG as the guarantors, PFSA as issuer of the debt and all other non-guarantor subsidiaries. Condensed consolidating financial information for Pentair plc, PISG and PFSA on a stand-alone basis is presented using the equity method of accounting for subsidiaries. Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three months ended March 31, 2018 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ — $ 1,269.7 $ — $ 1,269.7 Cost of goods sold — — — 807.7 — 807.7 Gross profit — — — 462.0 — 462.0 Selling, general and administrative 7.1 — 0.1 272.4 — 279.6 Research and development — — — 30.1 — 30.1 Operating income (loss) (7.1 ) — (0.1 ) 159.5 — 152.3 Loss (earnings) from continuing operations of investment in subsidiaries (111.3 ) (110.7 ) (123.7 ) — 345.7 — Other (income) expense: Loss on sale of business — — — 5.3 — 5.3 Net interest (income) expense — (0.3 ) 12.6 1.5 — 13.8 Other expense — — — 1.4 — 1.4 Income (loss) from continuing operations before income taxes 104.2 111.0 111.0 151.3 (345.7 ) 131.8 Provision for income taxes — — — 27.6 — 27.6 Net income (loss) from continuing operations 104.2 111.0 111.0 123.7 (345.7 ) 104.2 Loss from discontinued operations, net of tax — — — (1.3 ) — (1.3 ) Earnings (loss) from discontinued operations of investment in subsidiaries (1.3 ) (1.3 ) (1.3 ) — 3.9 — Net income (loss) $ 102.9 $ 109.7 $ 109.7 $ 122.4 $ (341.8 ) $ 102.9 Comprehensive income (loss), net of tax Net income (loss) $ 102.9 $ 109.7 $ 109.7 $ 122.4 $ (341.8 ) $ 102.9 Changes in cumulative translation adjustment 2.4 2.4 2.4 2.4 (7.2 ) 2.4 Changes in market value of derivative financial instruments, net of tax (3.8 ) (3.8 ) (3.8 ) (3.8 ) 11.4 (3.8 ) Comprehensive income (loss) $ 101.5 $ 108.3 $ 108.3 $ 121.0 $ (337.6 ) $ 101.5 Condensed Consolidating Balance Sheet March 31, 2018 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Assets Current assets Cash and cash equivalents $ 0.2 $ — $ — $ 907.3 $ — $ 907.5 Accounts and notes receivable, net — — — 985.2 — 985.2 Inventories — — — 593.5 — 593.5 Other current assets 0.9 0.2 5.1 236.1 (9.5 ) 232.8 Total current assets 1.1 0.2 5.1 2,722.1 (9.5 ) 2,719.0 Property, plant and equipment, net — — — 546.5 — 546.5 Other assets Investments in subsidiaries 5,104.8 5,009.0 7,068.3 — (17,182.1 ) — Goodwill — — — 4,380.1 — 4,380.1 Intangibles, net — — — 1,536.5 — 1,536.5 Other non-current assets 2.2 96.0 870.6 1,283.4 (2,066.2 ) 186.0 Total other assets 5,107.0 5,105.0 7,938.9 7,200.0 (19,248.3 ) 6,102.6 Total assets $ 5,108.1 $ 5,105.2 $ 7,944.0 $ 10,468.6 $ (19,257.8 ) $ 9,368.1 Liabilities and Equity Current liabilities Current maturities of long-term debt and short-term borrowings $ — $ — $ — $ 0.2 $ — $ 0.2 Accounts payable 1.5 — — 402.5 — 404.0 Employee compensation and benefits 0.4 — — 142.3 — 142.7 Other current liabilities 69.8 0.4 12.5 407.4 (9.5 ) 480.6 Total current liabilities 71.7 0.4 12.5 952.4 (9.5 ) 1,027.5 Other liabilities Long-term debt 286.5 — 2,922.7 1,530.1 (2,066.2 ) 2,673.1 Pension and other post-retirement compensation and benefits — — — 291.9 — 291.9 Deferred tax liabilities — — — 369.1 — 369.1 Other non-current liabilities 30.2 — — 256.6 — 286.8 Total liabilities 388.4 0.4 2,935.2 3,400.1 (2,075.7 ) 4,648.4 Equity 4,719.7 5,104.8 5,008.8 7,068.5 (17,182.1 ) 4,719.7 Total liabilities and equity $ 5,108.1 $ 5,105.2 $ 7,944.0 $ 10,468.6 $ (19,257.8 ) $ 9,368.1 Condensed Consolidating Statement of Cash Flows Three months ended March 31, 2018 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Operating activities Net cash provided by (used for) operating activities $ 83.4 $ 111.3 $ 109.1 $ (129.7 ) $ (341.7 ) $ (167.6 ) Investing activities Capital expenditures — — — (16.8 ) — (16.8 ) Proceeds from sale of property and equipment — — — 2.3 — 2.3 Payments due to sale of businesses, net — — — (13.8 ) — (13.8 ) Acquisitions, net of cash acquired — — — (2.9 ) — (2.9 ) Net intercompany loan activity — (1.9 ) (262.6 ) 103.1 161.4 — Net cash provided by (used for) investing activities — (1.9 ) (262.6 ) 71.9 161.4 (31.2 ) Financing activities Net receipts of short-term borrowings — — — 0.2 — 0.2 Net repayments of commercial paper and revolving long-term debt — — 223.8 193.7 — 417.5 Proceeds from long-term debt — — — 800.0 — 800.0 Debt issuance costs — — — (7.5 ) — (7.5 ) Net change in advances to subsidiaries 129.2 (109.4 ) (91.4 ) (108.7 ) 180.3 — Shares issued to employees, net of shares withheld 0.9 — — — — 0.9 Repurchases of ordinary shares (150.0 ) — — — — (150.0 ) Dividends paid (63.3 ) — — — — (63.3 ) Net cash provided by (used for) financing activities (83.2 ) (109.4 ) 132.4 877.7 180.3 997.8 Effect of exchange rate changes on cash and cash equivalents — — 21.1 (25.9 ) — (4.8 ) Change in cash and cash equivalents 0.2 — — 794.0 — 794.2 Cash and cash equivalents, beginning of period — — — 113.3 — 113.3 Cash and cash equivalents, end of period $ 0.2 $ — $ — $ 907.3 $ — $ 907.5 Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three months ended March 31, 2017 In millions Parent Subsidiary Subsidiary Non-guarantor Eliminations Consolidated Net sales $ — $ — $ — $ 1,183.5 $ — $ 1,183.5 Cost of goods sold — — — 761.2 — 761.2 Gross profit — — — 422.3 — 422.3 Selling, general and administrative (11.0 ) 0.1 0.4 262.2 — 251.7 Research and development — — — 30.0 — 30.0 Operating income (loss) 11.0 (0.1 ) (0.4 ) 130.1 — 140.6 Loss (earnings) from continuing operations of investment in subsidiaries (69.7 ) (69.7 ) (98.5 ) — 237.9 — Other (income) expense: Net interest expense (income) — (0.1 ) 28.4 6.7 — 35.0 Other expense — — — 2.0 2.0 Income (loss) from continuing operations before income taxes 80.7 69.7 69.7 121.4 (237.9 ) 103.6 Provision for income taxes — — — 22.9 — 22.9 Net income (loss) from continuing operations 80.7 69.7 69.7 98.5 (237.9 ) 80.7 Income from discontinued operations, net of tax — — — 7.1 — 7.1 Earnings (loss) from discontinued operations of investment in subsidiaries 7.1 7.1 7.1 — (21.3 ) — Net income (loss) $ 87.8 $ 76.8 $ 76.8 $ 105.6 $ (259.2 ) $ 87.8 Comprehensive income (loss), net of tax Net income (loss) $ 87.8 $ 76.8 $ 76.8 $ 105.6 $ (259.2 ) $ 87.8 Changes in cumulative translation adjustment 75.7 75.7 75.7 75.7 (227.1 ) 75.7 Changes in market value of derivative financial instruments, net of tax 1.6 1.6 1.6 1.6 (4.8 ) 1.6 Comprehensive income (loss) $ 165.1 $ 154.1 $ 154.1 $ 182.9 $ (491.1 ) $ 165.1 Condensed Consolidating Balance Sheet December 31, 2017 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Assets Current assets Cash and cash equivalents $ — $ — $ — $ 113.3 $ — $ 113.3 Accounts and notes receivable, net — — — 831.6 — 831.6 Inventories — — — 581.0 — 581.0 Other current assets 10.8 1.8 1.5 239.3 (30.5 ) 222.9 Total current assets 10.8 1.8 1.5 1,765.2 (30.5 ) 1,748.8 Property, plant and equipment, net — — — 545.5 — 545.5 Other assets Investments in subsidiaries 5,205.1 5,109.6 7,156.1 — (17,470.8 ) — Goodwill — — — 4,351.1 — 4,351.1 Intangibles, net — — — 1,558.4 — 1,558.4 Long-term intercompany debt — 94.1 614.0 (708.1 ) — — Other non-current assets 2.2 — — 2,317.1 (1,889.4 ) 429.9 Total other assets 5,207.3 5,203.7 7,770.1 7,518.5 (19,360.2 ) 6,339.4 Total assets $ 5,218.1 $ 5,205.5 $ 7,771.6 $ 9,829.2 $ (19,390.7 ) $ 8,633.7 Liabilities and Equity Current liabilities Accounts payable $ 1.4 $ — $ — $ 494.3 $ — $ 495.7 Employee compensation and benefits 0.4 — — 186.2 — 186.6 Other current liabilities 99.6 0.4 9.4 438.2 (30.5 ) 517.1 Total current liabilities 101.4 0.4 9.4 1,118.7 (30.5 ) 1,199.4 Other liabilities Long-term debt 48.4 — 2,652.8 628.9 (1,889.4 ) 1,440.7 Pension and other post-retirement compensation and benefits — — — 285.6 — 285.6 Deferred tax liabilities — — — 394.8 — 394.8 Other non-current liabilities 30.5 — — 244.9 — 275.4 Total liabilities 180.3 0.4 2,662.2 2,672.9 (1,919.9 ) 3,595.9 Equity 5,037.8 5,205.1 5,109.4 7,156.3 (17,470.8 ) 5,037.8 Total liabilities and equity $ 5,218.1 $ 5,205.5 $ 7,771.6 $ 9,829.2 $ (19,390.7 ) $ 8,633.7 Condensed Consolidating Statement of Cash Flows Three months ended March 31, 2017 In millions Parent Subsidiary Subsidiary Non-guarantor Eliminations Consolidated Operating activities Net cash provided by (used for) operating activities $ 49.8 $ 75.1 $ 69.5 $ (41.0 ) $ (259.4 ) $ (106.0 ) Investing activities Capital expenditures — — — (23.6 ) — (23.6 ) Acquisitions, net of cash acquired — — — (56.7 ) — (56.7 ) Net intercompany loan activity — — (530.4 ) (290.2 ) 820.6 — Net cash provided by (used for) investing activities of continuing operations — — (530.4 ) (370.5 ) 820.6 (80.3 ) Net cash provided by (used for) investing activities of discontinued operations — — — (3.7 ) — (3.7 ) Net cash provided by (used for) investing activities — — (530.4 ) (374.2 ) 820.6 (84.0 ) Financing activities Net repayments of short-term borrowings — — — (0.1 ) — (0.1 ) Net receipts (repayments) of commercial paper and revolving long-term debt — — 234.0 (4.9 ) — 229.1 Net change in advances to subsidiaries 10.2 (75.1 ) 206.9 419.2 (561.2 ) — Shares issued to employees, net of shares withheld 2.8 — — — — 2.8 Dividends paid (62.8 ) — — — — (62.8 ) Net cash provided by (used for) financing activities (49.8 ) (75.1 ) 440.9 414.2 (561.2 ) 169.0 Effect of exchange rate changes on cash and cash equivalents — — 20.1 0.5 — 20.6 Change in cash and cash equivalents — — 0.1 (0.5 ) — (0.4 ) Cash and cash equivalents, beginning of period — — — 238.5 — 238.5 Cash and cash equivalents, end of period $ — $ — $ 0.1 $ 238.0 $ — $ 238.1

Basis of Presentation and Res23

Basis of Presentation and Responsibility for Interim Financial Statements (Tables)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The effect of the retrospective presentation change related to the net periodic cost of our defined benefit pension and other post-retirement plans on our Condensed Consolidated Statements of Operations and Comprehensive Income was as follows: Three months ended In millions Previously Reported As Revised Effect of Change Selling, general and administrative expenses $ 253.9 $ 251.7 $ (2.2 ) Operating income 138.4 140.6 2.2 Other expense — 2.2 2.2 As required by ASC 606, the impact of adoption of the new revenue standard on our Condensed Consolidated Statements of Operations and Comprehensive Income and Condensed Consolidated Balance Sheets was as follows: Condensed Consolidated Statements of Operations and Comprehensive Income Three months ended March 31, 2018 In millions As Reported Balances without adoption of ASC 606 Effect of Change Net sales $ 1,269.7 $ 1,261.1 $ 8.6 Cost of goods sold 807.7 801.3 6.4 Provision for income taxes 27.6 27.2 0.4 Net income from continuing operations 104.2 102.4 1.8 Condensed Consolidated Balance Sheets March 31, 2018 In millions As Reported Balances without adoption of ASC 606 Effect of Change Assets Accounts and notes receivable, net $ 985.2 $ 977.3 $ 7.9 Inventories 593.5 602.6 (9.1 ) Other current assets 232.8 222.8 10.0 Liabilities Other current liabilities 480.6 473.8 6.8 Deferred tax liabilities 369.1 368.6 0.5 Equity Retained Earnings 2,308.0 2,306.4 1.6 The cumulative effect of the changes made to our January 1, 2018 Condensed Consolidated Balance Sheet from the modified retrospective adoption of ASU 2016-16 and ASU 2014-09 was as follows: Condensed Consolidated Balance Sheets In millions Balance at December 31, 2017 Adjustments due to ASU 2016-16 Adjustments due to ASU 2014-09 Balance at January 1, 2018 Assets Accounts and notes receivable, net $ 831.6 $ — $ 6.5 $ 838.1 Inventories 581.0 — (3.4 ) 577.6 Other current assets 222.9 — 3.4 226.3 Other non-current assets 429.9 (246.5 ) — 183.4 Liabilities Other current liabilities 517.1 — 6.5 523.6 Deferred tax liabilities 394.8 (30.7 ) 0.5 364.6 Equity Retained Earnings 2,481.7 (215.8 ) 1.8 2,267.7

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue from Contract with Customer [Abstract]
Contract with Customer, Asset and Liability	Contract assets and liabilities consisted of the following: In millions March 31, 2018 December 31, 2017 $ Change % Change Contract assets $ 118.0 $ 121.4 $ (3.4 ) (2.8 )% Contract liabilities 41.4 43.4 (2.0 ) (4.6 )% Net contract assets $ 76.6 $ 78.0 $ (1.4 ) (1.8 )%
Disaggregation of Revenue	Geographic net sales information by segment, based on geographic destination of the sale, was as follows: Three months ended March 31, 2018 In millions Water Electrical U.S. $ 452.2 $ 317.0 Western Europe 110.3 121.7 Developing (1) 113.0 56.9 Other Developed (2) 56.8 43.3 Segment net sales $ 732.3 $ 538.9 (1) Developing includes China, Eastern Europe, Latin America, the Middle East and Southeast Asia. (2) Other Developed includes Australia, Canada and Japan. Three months ended March 31, 2017 In millions Water Electrical U.S. $ 431.2 300.1 Western Europe 95.3 103.3 Developing (1) 104.9 62.1 Other Developed (2) 51.5 36.7 Segment net sales $ 682.9 $ 502.2 (1) Developing includes China, Eastern Europe, Latin America, the Middle East and Southeast Asia. (2) Other Developed includes Australia, Canada and Japan. Vertical market net sales information for Water was as follows: Three months ended In millions March 31, 2018 March 31, 2017 Residential $ 412.1 $ 388.3 Commercial 151.8 144.7 Industrial 168.4 149.9 Water net sales $ 732.3 $ 682.9 Vertical market net sales information for Electrical was as follows: Three months ended In millions March 31, 2018 March 31, 2017 Industrial $ 243.5 $ 220.5 Commercial & Residential 146.0 134.5 Energy 79.9 88.0 Infrastructure 69.5 59.2 Electrical net sales $ 538.9 $ 502.2 Net sales information by SBG was as follows: Three months ended In millions March 31, 2018 March 31, 2017 Aquatic Systems $ 240.4 $ 222.5 Filtration Solutions 251.6 230.8 Flow Technologies 240.3 229.6 Total Water 732.3 682.9 Enclosures 254.1 226.5 Thermal Management 147.9 145.4 Electrical & Fastening Solutions 136.9 130.3 Total Electrical 538.9 502.2 Other (1.5 ) (1.6 ) Consolidated net sales $ 1,269.7 $ 1,183.5

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2018
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	Operating results of discontinued operations are summarized below: Three months ended In millions March 31, March 31, Net sales $ — $ 356.5 Cost of goods sold — 267.9 Gross profit — 88.6 Selling, general and administrative — 79.5 Research and development — 4.2 Operating income $ — $ 4.9 (Loss) income from discontinued operations before income taxes $ (0.7 ) $ 5.7 Income tax provision (benefit) 0.6 (1.4 ) (Loss) income from discontinued operations, net of tax $ (1.3 ) $ 7.1

Share Plans (Tables)

Share Plans (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based Compensation Expense	Total share-based compensation expense for the three months ended March 31, 2018 and 2017 was as follows: Three months ended In millions March 31, March 31, Restricted stock units $ 2.4 $ 5.8 Stock options 1.2 4.5 Performance share units 2.4 6.1 Total share-based compensation expense $ 6.0 $ 16.4

Restructuring (Tables)

Restructuring (Tables)	3 Months Ended
	Mar. 31, 2018
Restructuring and Related Activities [Abstract]
Restructuring Related Costs	Restructuring related costs included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations and Comprehensive Income included costs for severance and other restructuring costs as follows: Three months ended In millions March 31, March 31, Severance and related costs $ 10.6 $ 20.6 Other 0.2 0.3 Total restructuring costs $ 10.8 $ 20.9
Restructuring Costs By Segment [Table Text Block]	Restructuring costs by reportable segment were as follows: Three months ended In millions March 31, March 31, Water $ 5.6 $ 7.1 Electrical 2.8 9.3 Other 2.4 4.5 Consolidated $ 10.8 $ 20.9
Restructuring Accrual Activity Recorded on Consolidated Balance Sheets	Activity related to accrued severance and related costs recorded in Other current liabilities in the Condensed Consolidated Balance Sheets is summarized as follows for the three months ended March 31, 2018 : In millions March 31, Beginning balance $ 39.8 Costs incurred 10.6 Cash payments and other (16.3 ) Ending balance $ 34.1

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2018
Basic and Diluted Earnings Per Share	Basic and diluted earnings per share were calculated as follows: Three months ended In millions, except per-share data March 31, March 31, Net income $ 102.9 $ 87.8 Net income from continuing operations $ 104.2 $ 80.7 Weighted average ordinary shares outstanding Basic 179.2 182.0 Dilutive impact of stock options, restricted stock units and performance share units 2.3 2.0 Diluted 181.5 184.0 Earnings (loss) per ordinary share Basic Continuing operations $ 0.58 $ 0.44 Discontinued operations (0.01 ) 0.04 Basic earnings per ordinary share $ 0.57 $ 0.48 Diluted Continuing operations $ 0.58 $ 0.44 Discontinued operations (0.01 ) 0.04 Diluted earnings per ordinary share $ 0.57 $ 0.48 Anti-dilutive stock options excluded from the calculation of diluted earnings per share 0.4 1.8

Supplemental Balance Sheet In29

Supplemental Balance Sheet Information (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure Supplemental Balance Sheet Information [Abstract]
Supplemental Balance Sheet Information	In millions March 31, December 31, Inventories Raw materials and supplies $ 255.7 $ 255.1 Work-in-process 86.3 83.0 Finished goods 251.5 242.9 Total inventories $ 593.5 $ 581.0 Other current assets Cost in excess of billings $ 118.0 $ 121.4 Prepaid expenses 78.9 80.7 Prepaid income taxes 26.0 15.3 Other current assets 9.9 5.5 Total other current assets $ 232.8 $ 222.9 Property, plant and equipment, net Land and land improvements $ 73.6 $ 72.6 Buildings and leasehold improvements 361.4 354.5 Machinery and equipment 1,026.6 1,011.6 Construction in progress 38.0 35.1 Total property, plant and equipment 1,499.6 1,473.8 Accumulated depreciation and amortization 953.1 928.3 Total property, plant and equipment, net $ 546.5 $ 545.5 Other non-current assets Prepaid income taxes $ — $ 254.3 Deferred income taxes 54.3 43.0 Deferred compensation plan assets 43.6 49.4 Other non-current assets 88.1 83.2 Total other non-current assets $ 186.0 $ 429.9 Other current liabilities Dividends payable $ 62.4 $ 63.1 Accrued warranty 45.2 41.0 Accrued rebates 71.9 92.7 Billings in excess of cost 30.2 29.9 Income taxes payable 23.9 31.1 Accrued restructuring 34.1 39.8 Other current liabilities 212.9 219.5 Total other current liabilities $ 480.6 $ 517.1 Other non-current liabilities Income taxes payable $ 92.3 $ 92.7 Self-insurance liabilities 51.1 48.3 Deferred compensation plan liabilities 43.6 49.4 Foreign currency contract liabilities 62.2 47.2 Other non-current liabilities 37.6 37.8 Total other non-current liabilities $ 286.8 $ 275.4

Goodwill and Other Identifiab30

Goodwill and Other Identifiable Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Carrying Amount of Goodwill by Segment	The changes in the carrying amount of goodwill by segment were as follows: In millions December 31, Foreign currency translation/other March 31, Water $ 2,112.9 $ 25.9 $ 2,138.8 Electrical 2,238.2 3.1 2,241.3 Total goodwill $ 4,351.1 $ 29.0 $ 4,380.1
Detail of Identifiable Intangible Assets	Identifiable intangible assets consisted of the following: March 31, December 31, In millions Cost Accumulated amortization Net Cost Accumulated amortization Net Definite-life intangibles Customer relationships $ 1,514.9 $ (460.5 ) $ 1,054.4 $ 1,513.9 $ (437.5 ) $ 1,076.4 Trade names 1.5 (1.5 ) — 1.5 (1.4 ) 0.1 Proprietary technology and patents 133.7 (98.4 ) 35.3 131.9 (94.2 ) 37.7 Total definite-life intangibles 1,650.1 (560.4 ) 1,089.7 1,647.3 (533.1 ) 1,114.2 Indefinite-life intangibles Trade names 446.8 — 446.8 444.2 — 444.2 Total intangibles $ 2,096.9 $ (560.4 ) $ 1,536.5 $ 2,091.5 $ (533.1 ) $ 1,558.4
Estimated Future Amortization Expense for Identifiable Intangible Assets	Estimated future amortization expense for identifiable intangible assets during the remainder of 2018 and the next five years is as follows: Q2-Q4 In millions 2018 2019 2020 2021 2022 2023 Estimated amortization expense $ 72.0 $ 89.4 $ 84.1 $ 77.5 $ 69.8 $ 67.2

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
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 as of March 31, 2018 Maturity Year March 31, December 31, Commercial paper 2.340% 2019 $ 257.8 $ 34.0 Revolving credit facilities 3.430% 2019 222.1 28.4 Senior notes - fixed rate (1) 2.900% 2018 255.3 255.3 Senior notes - fixed rate (1) 2.650% 2019 250.0 250.0 Senior notes - fixed rate - Euro (1) 2.450% 2019 615.4 594.4 Senior notes - fixed rate (1) 3.625% 2020 74.0 74.0 Senior notes - fixed rate (1) 5.000% 2021 103.8 103.8 Senior notes - fixed rate (1) 3.150% 2022 88.3 88.3 Senior notes - fixed rate (1) 4.650% 2025 19.3 19.3 Senior notes - fixed rate - nVent (2) 3.950% 2023 300.0 — Senior notes - fixed rate - nVent (2) 4.550% 2028 500.0 — Other 8.545% 2018 0.2 — Unamortized debt issuance costs and discounts N/A N/A (12.9 ) (6.8 ) Total debt 2,673.3 1,440.7 Less: Current maturities and short-term borrowings (0.2 ) — Long-term debt $ 2,673.1 $ 1,440.7 (1) Senior notes are guaranteed as to payment by Pentair plc and PISG (2) Senior notes are guaranteed as to payment by nVent plc, Pentair plc and PISG
Debt Outstanding Matures on Calendar Year Basis	Debt outstanding, excluding unamortized issuance costs and discounts, at March 31, 2018 matures on a calendar year basis as follows: Q2-Q4 In millions 2018 2019 2020 2021 2022 2023 Thereafter Total Contractual debt obligation maturities $ 0.2 $ 1,600.6 $ 74.0 $ 103.8 $ 88.3 $ 300.0 $ 519.3 $ 2,686.2

Derivatives and Financial Ins32

Derivatives and Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
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: March 31, 2018 In millions Level 1 Level 2 Level 3 Total Recurring fair value measurements Foreign currency contract assets $ — $ 0.6 $ — $ 0.6 Foreign currency contract liabilities — (62.2 ) — (62.2 ) Deferred compensation plan assets 36.8 6.8 — 43.6 Total recurring fair value measurements $ 36.8 $ (54.8 ) $ — $ (18.0 ) December 31, 2017 In millions Level 1 Level 2 Level 3 Total Recurring fair value measurements Foreign currency contract assets $ — $ 0.6 $ — $ 0.6 Foreign currency contract liabilities — (47.2 ) — (47.2 ) Deferred compensation plan assets 42.8 6.6 — 49.4 Total recurring fair value measurements $ 42.8 $ (40.0 ) $ — $ 2.8 Nonrecurring fair value measurements (1) (1) During the fourth quarter of 2017, we completed our annual intangible assets impairment review. As a result, we recorded a pre-tax non-cash impairment charge of $25.2 million for a trade name intangible in 2017. The impairment charge reduced the carrying value of the impacted trade name intangible to $27.0 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.
Recorded Amounts and Estimated Fair Values of Long-term Debt and Derivative Financial Instruments	The recorded amounts and estimated fair values of total debt, excluding unamortized issuance costs and discounts, were as follows: March 31, December 31, In millions Recorded Amount Fair Value Recorded Amount Fair Value Variable rate debt $ 480.1 $ 480.1 $ 62.4 $ 62.4 Fixed rate debt 2,206.1 2,250.8 1,385.1 1,424.0 Total debt $ 2,686.2 $ 2,730.9 $ 1,447.5 $ 1,486.4

Benefit Plans (Tables)

Benefit Plans (Tables)	3 Months Ended
	Mar. 31, 2018
Retirement Benefits [Abstract]
Schedule of Net Benefit Costs	U.S. pension plans Three months ended In millions March 31, March 31, Service cost $ 0.8 $ 2.6 Interest cost 3.0 4.1 Expected return on plan assets (2.2 ) (2.9 ) Net periodic benefit cost $ 1.6 $ 3.8 Non-U.S. pension plans Three months ended In millions March 31, March 31, Service cost $ 1.8 $ 1.8 Interest cost 1.1 0.9 Expected return on plan assets (0.4 ) (0.3 ) Net periodic benefit cost $ 2.5 $ 2.4

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Financial Information by Reportable Segment	Financial information by reportable segment is as follows: Three months ended In millions March 31, March 31, Net sales Water $ 732.3 $ 682.9 Electrical 538.9 502.2 Other (1.5 ) (1.6 ) Consolidated $ 1,269.7 $ 1,183.5 Segment income (loss) Water $ 132.7 $ 116.1 Electrical 106.3 104.3 Other (28.5 ) (34.7 ) Consolidated $ 210.5 $ 185.7
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	The following table presents a reconciliation of consolidated segment income to consolidated income from continuing operations before income taxes: Three months ended In millions March 31, March 31, Segment income $ 210.5 $ 185.7 Restructuring and other (8.3 ) (20.9 ) Intangible amortization (24.7 ) (24.0 ) Loss on sale of business (5.3 ) — Separation costs (24.6 ) — Net interest expense (13.8 ) (35.0 ) Other expense (2.0 ) (2.2 ) Income from continuing operations before income taxes $ 131.8 $ 103.6

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Changes in Carrying Amount of Service and Product Warranties	The changes in the carrying amount of service and product warranties of continuing operations for the three months ended March 31, 2018 were as follows: In millions March 31, Beginning balance $ 41.0 Service and product warranty provision 16.5 Payments (12.4 ) Foreign currency translation 0.1 Ending balance $ 45.2

Financial Statements of Paren36

Financial Statements of Parent Company Guarantor (Tables)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)	Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three months ended March 31, 2018 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Net sales $ — $ — $ — $ 1,269.7 $ — $ 1,269.7 Cost of goods sold — — — 807.7 — 807.7 Gross profit — — — 462.0 — 462.0 Selling, general and administrative 7.1 — 0.1 272.4 — 279.6 Research and development — — — 30.1 — 30.1 Operating income (loss) (7.1 ) — (0.1 ) 159.5 — 152.3 Loss (earnings) from continuing operations of investment in subsidiaries (111.3 ) (110.7 ) (123.7 ) — 345.7 — Other (income) expense: Loss on sale of business — — — 5.3 — 5.3 Net interest (income) expense — (0.3 ) 12.6 1.5 — 13.8 Other expense — — — 1.4 — 1.4 Income (loss) from continuing operations before income taxes 104.2 111.0 111.0 151.3 (345.7 ) 131.8 Provision for income taxes — — — 27.6 — 27.6 Net income (loss) from continuing operations 104.2 111.0 111.0 123.7 (345.7 ) 104.2 Loss from discontinued operations, net of tax — — — (1.3 ) — (1.3 ) Earnings (loss) from discontinued operations of investment in subsidiaries (1.3 ) (1.3 ) (1.3 ) — 3.9 — Net income (loss) $ 102.9 $ 109.7 $ 109.7 $ 122.4 $ (341.8 ) $ 102.9 Comprehensive income (loss), net of tax Net income (loss) $ 102.9 $ 109.7 $ 109.7 $ 122.4 $ (341.8 ) $ 102.9 Changes in cumulative translation adjustment 2.4 2.4 2.4 2.4 (7.2 ) 2.4 Changes in market value of derivative financial instruments, net of tax (3.8 ) (3.8 ) (3.8 ) (3.8 ) 11.4 (3.8 ) Comprehensive income (loss) $ 101.5 $ 108.3 $ 108.3 $ 121.0 $ (337.6 ) $ 101.5 Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) Three months ended March 31, 2017 In millions Parent Subsidiary Subsidiary Non-guarantor Eliminations Consolidated Net sales $ — $ — $ — $ 1,183.5 $ — $ 1,183.5 Cost of goods sold — — — 761.2 — 761.2 Gross profit — — — 422.3 — 422.3 Selling, general and administrative (11.0 ) 0.1 0.4 262.2 — 251.7 Research and development — — — 30.0 — 30.0 Operating income (loss) 11.0 (0.1 ) (0.4 ) 130.1 — 140.6 Loss (earnings) from continuing operations of investment in subsidiaries (69.7 ) (69.7 ) (98.5 ) — 237.9 — Other (income) expense: Net interest expense (income) — (0.1 ) 28.4 6.7 — 35.0 Other expense — — — 2.0 2.0 Income (loss) from continuing operations before income taxes 80.7 69.7 69.7 121.4 (237.9 ) 103.6 Provision for income taxes — — — 22.9 — 22.9 Net income (loss) from continuing operations 80.7 69.7 69.7 98.5 (237.9 ) 80.7 Income from discontinued operations, net of tax — — — 7.1 — 7.1 Earnings (loss) from discontinued operations of investment in subsidiaries 7.1 7.1 7.1 — (21.3 ) — Net income (loss) $ 87.8 $ 76.8 $ 76.8 $ 105.6 $ (259.2 ) $ 87.8 Comprehensive income (loss), net of tax Net income (loss) $ 87.8 $ 76.8 $ 76.8 $ 105.6 $ (259.2 ) $ 87.8 Changes in cumulative translation adjustment 75.7 75.7 75.7 75.7 (227.1 ) 75.7 Changes in market value of derivative financial instruments, net of tax 1.6 1.6 1.6 1.6 (4.8 ) 1.6 Comprehensive income (loss) $ 165.1 $ 154.1 $ 154.1 $ 182.9 $ (491.1 ) $ 165.1
Schedule of Condensed Consolidating Balance Sheet	Condensed Consolidating Balance Sheet March 31, 2018 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Assets Current assets Cash and cash equivalents $ 0.2 $ — $ — $ 907.3 $ — $ 907.5 Accounts and notes receivable, net — — — 985.2 — 985.2 Inventories — — — 593.5 — 593.5 Other current assets 0.9 0.2 5.1 236.1 (9.5 ) 232.8 Total current assets 1.1 0.2 5.1 2,722.1 (9.5 ) 2,719.0 Property, plant and equipment, net — — — 546.5 — 546.5 Other assets Investments in subsidiaries 5,104.8 5,009.0 7,068.3 — (17,182.1 ) — Goodwill — — — 4,380.1 — 4,380.1 Intangibles, net — — — 1,536.5 — 1,536.5 Other non-current assets 2.2 96.0 870.6 1,283.4 (2,066.2 ) 186.0 Total other assets 5,107.0 5,105.0 7,938.9 7,200.0 (19,248.3 ) 6,102.6 Total assets $ 5,108.1 $ 5,105.2 $ 7,944.0 $ 10,468.6 $ (19,257.8 ) $ 9,368.1 Liabilities and Equity Current liabilities Current maturities of long-term debt and short-term borrowings $ — $ — $ — $ 0.2 $ — $ 0.2 Accounts payable 1.5 — — 402.5 — 404.0 Employee compensation and benefits 0.4 — — 142.3 — 142.7 Other current liabilities 69.8 0.4 12.5 407.4 (9.5 ) 480.6 Total current liabilities 71.7 0.4 12.5 952.4 (9.5 ) 1,027.5 Other liabilities Long-term debt 286.5 — 2,922.7 1,530.1 (2,066.2 ) 2,673.1 Pension and other post-retirement compensation and benefits — — — 291.9 — 291.9 Deferred tax liabilities — — — 369.1 — 369.1 Other non-current liabilities 30.2 — — 256.6 — 286.8 Total liabilities 388.4 0.4 2,935.2 3,400.1 (2,075.7 ) 4,648.4 Equity 4,719.7 5,104.8 5,008.8 7,068.5 (17,182.1 ) 4,719.7 Total liabilities and equity $ 5,108.1 $ 5,105.2 $ 7,944.0 $ 10,468.6 $ (19,257.8 ) $ 9,368.1 Condensed Consolidating Balance Sheet December 31, 2017 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Assets Current assets Cash and cash equivalents $ — $ — $ — $ 113.3 $ — $ 113.3 Accounts and notes receivable, net — — — 831.6 — 831.6 Inventories — — — 581.0 — 581.0 Other current assets 10.8 1.8 1.5 239.3 (30.5 ) 222.9 Total current assets 10.8 1.8 1.5 1,765.2 (30.5 ) 1,748.8 Property, plant and equipment, net — — — 545.5 — 545.5 Other assets Investments in subsidiaries 5,205.1 5,109.6 7,156.1 — (17,470.8 ) — Goodwill — — — 4,351.1 — 4,351.1 Intangibles, net — — — 1,558.4 — 1,558.4 Long-term intercompany debt — 94.1 614.0 (708.1 ) — — Other non-current assets 2.2 — — 2,317.1 (1,889.4 ) 429.9 Total other assets 5,207.3 5,203.7 7,770.1 7,518.5 (19,360.2 ) 6,339.4 Total assets $ 5,218.1 $ 5,205.5 $ 7,771.6 $ 9,829.2 $ (19,390.7 ) $ 8,633.7 Liabilities and Equity Current liabilities Accounts payable $ 1.4 $ — $ — $ 494.3 $ — $ 495.7 Employee compensation and benefits 0.4 — — 186.2 — 186.6 Other current liabilities 99.6 0.4 9.4 438.2 (30.5 ) 517.1 Total current liabilities 101.4 0.4 9.4 1,118.7 (30.5 ) 1,199.4 Other liabilities Long-term debt 48.4 — 2,652.8 628.9 (1,889.4 ) 1,440.7 Pension and other post-retirement compensation and benefits — — — 285.6 — 285.6 Deferred tax liabilities — — — 394.8 — 394.8 Other non-current liabilities 30.5 — — 244.9 — 275.4 Total liabilities 180.3 0.4 2,662.2 2,672.9 (1,919.9 ) 3,595.9 Equity 5,037.8 5,205.1 5,109.4 7,156.3 (17,470.8 ) 5,037.8 Total liabilities and equity $ 5,218.1 $ 5,205.5 $ 7,771.6 $ 9,829.2 $ (19,390.7 ) $ 8,633.7
Schedule of Condensed Consolidating Statement of Cash Flows	Condensed Consolidating Statement of Cash Flows Three months ended March 31, 2018 In millions Parent Company Guarantor Subsidiary Subsidiary Issuer Non-guarantor Subsidiaries Eliminations Consolidated Operating activities Net cash provided by (used for) operating activities $ 83.4 $ 111.3 $ 109.1 $ (129.7 ) $ (341.7 ) $ (167.6 ) Investing activities Capital expenditures — — — (16.8 ) — (16.8 ) Proceeds from sale of property and equipment — — — 2.3 — 2.3 Payments due to sale of businesses, net — — — (13.8 ) — (13.8 ) Acquisitions, net of cash acquired — — — (2.9 ) — (2.9 ) Net intercompany loan activity — (1.9 ) (262.6 ) 103.1 161.4 — Net cash provided by (used for) investing activities — (1.9 ) (262.6 ) 71.9 161.4 (31.2 ) Financing activities Net receipts of short-term borrowings — — — 0.2 — 0.2 Net repayments of commercial paper and revolving long-term debt — — 223.8 193.7 — 417.5 Proceeds from long-term debt — — — 800.0 — 800.0 Debt issuance costs — — — (7.5 ) — (7.5 ) Net change in advances to subsidiaries 129.2 (109.4 ) (91.4 ) (108.7 ) 180.3 — Shares issued to employees, net of shares withheld 0.9 — — — — 0.9 Repurchases of ordinary shares (150.0 ) — — — — (150.0 ) Dividends paid (63.3 ) — — — — (63.3 ) Net cash provided by (used for) financing activities (83.2 ) (109.4 ) 132.4 877.7 180.3 997.8 Effect of exchange rate changes on cash and cash equivalents — — 21.1 (25.9 ) — (4.8 ) Change in cash and cash equivalents 0.2 — — 794.0 — 794.2 Cash and cash equivalents, beginning of period — — — 113.3 — 113.3 Cash and cash equivalents, end of period $ 0.2 $ — $ — $ 907.3 $ — $ 907.5 Condensed Consolidating Statement of Cash Flows Three months ended March 31, 2017 In millions Parent Subsidiary Subsidiary Non-guarantor Eliminations Consolidated Operating activities Net cash provided by (used for) operating activities $ 49.8 $ 75.1 $ 69.5 $ (41.0 ) $ (259.4 ) $ (106.0 ) Investing activities Capital expenditures — — — (23.6 ) — (23.6 ) Acquisitions, net of cash acquired — — — (56.7 ) — (56.7 ) Net intercompany loan activity — — (530.4 ) (290.2 ) 820.6 — Net cash provided by (used for) investing activities of continuing operations — — (530.4 ) (370.5 ) 820.6 (80.3 ) Net cash provided by (used for) investing activities of discontinued operations — — — (3.7 ) — (3.7 ) Net cash provided by (used for) investing activities — — (530.4 ) (374.2 ) 820.6 (84.0 ) Financing activities Net repayments of short-term borrowings — — — (0.1 ) — (0.1 ) Net receipts (repayments) of commercial paper and revolving long-term debt — — 234.0 (4.9 ) — 229.1 Net change in advances to subsidiaries 10.2 (75.1 ) 206.9 419.2 (561.2 ) — Shares issued to employees, net of shares withheld 2.8 — — — — 2.8 Dividends paid (62.8 ) — — — — (62.8 ) Net cash provided by (used for) financing activities (49.8 ) (75.1 ) 440.9 414.2 (561.2 ) 169.0 Effect of exchange rate changes on cash and cash equivalents — — 20.1 0.5 — 20.6 Change in cash and cash equivalents — — 0.1 (0.5 ) — (0.4 ) Cash and cash equivalents, beginning of period — — — 238.5 — 238.5 Cash and cash equivalents, end of period $ — $ — $ 0.1 $ 238.0 $ — $ 238.1

Basis of Presentation and Res37

Basis of Presentation and Responsibility for Interim Financial Statements - Schedule of Effect of Adoption of ASU 2017-07 (Details) $ in Millions	3 Months Ended
	Mar. 31, 2017USD ($)
Selling, general and administrative expenses
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	$ 251.7
Selling, general and administrative expenses | Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	253.9
Selling, general and administrative expenses | Effect of Change | Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	(2.2)
Operating income
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	140.6
Operating income | Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	138.4
Operating income | Effect of Change | Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	2.2
Other expense
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	2.2
Other expense | Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	0
Other expense | Effect of Change | Accounting Standards Update 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	$ 2.2

Basis of Presentation and Res38

Basis of Presentation and Responsibility for Interim Financial Statements - Additional Information (Details) $ in Millions	Apr. 17, 2018shares	Jan. 01, 2018USD ($)	Apr. 30, 2018market	Mar. 31, 2018USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification from AOCI to retained earnings		$ 215.8
Reduction in prepaid long-term asset		254.3
Deferred tax asset, income tax expense		38.5
Cumulative effect of new accounting principle in period of adoption				$ (214)
Subsequent Event
Subsequent Event [Line Items]
Shares issued per predecessor share (in shares) | shares	1
Number of markets in ordinary shares | market			2
Retained earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of new accounting principle in period of adoption				$ (214)
Retained earnings | Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of new accounting principle in period of adoption		$ 1.8

Basis of Presentation and Res39

Basis of Presentation and Responsibility for Interim Financial Statements - Schedule of Impact of ASC 606 on the Consolidated Statements of Operations and Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales	$ 1,269.7	$ 1,183.5
Cost of goods sold	807.7	761.2
Provision for income taxes	27.6	22.9
Net income from continuing operations	104.2	$ 80.7
Balances without adoption of ASC 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales	1,261.1
Cost of goods sold	801.3
Provision for income taxes	27.2
Net income from continuing operations	102.4
Effect of Change | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Net sales	8.6
Cost of goods sold	6.4
Provision for income taxes	0.4
Net income from continuing operations	$ 1.8

Basis of Presentation and Res40

Basis of Presentation and Responsibility for Interim Financial Statements - Schedule of Impact of ASC 606 on the Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Assets
Accounts and notes receivable, net	$ 985.2	$ 838.1	$ 831.6
Inventories	593.5	577.6	581
Other current assets	232.8	226.3	222.9
Other non-current assets	186	183.4	429.9
Liabilities
Other current liabilities	480.6	523.6	517.1
Deferred tax liabilities	369.1	364.6	394.8
Equity
Retained earnings	2,308	2,267.7	2,481.7
Accounting Standards Update 2016-16
Assets
Accounts and notes receivable, net		0
Inventories		0
Other current assets		0
Other non-current assets		(246.5)
Liabilities
Other current liabilities		0
Deferred tax liabilities		(30.7)
Equity
Retained earnings		(215.8)
Balances without adoption of ASC 606
Assets
Accounts and notes receivable, net	977.3		831.6
Inventories	602.6		581
Other current assets	222.8		222.9
Other non-current assets			429.9
Liabilities
Other current liabilities	473.8		517.1
Deferred tax liabilities	368.6		394.8
Equity
Retained earnings	2,306.4		$ 2,481.7
Effect of Change | Accounting Standards Update 2014-09
Assets
Accounts and notes receivable, net	7.9	6.5
Inventories	(9.1)	(3.4)
Other current assets	10	3.4
Other non-current assets		0
Liabilities
Other current liabilities	6.8	6.5
Deferred tax liabilities	0.5	0.5
Equity
Retained earnings	$ 1.6	$ 1.8

Revenue - Schedule of Contract

Revenue - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Contract assets	$ 118	$ 121.4
Contract liabilities	41.4	43.4
Net contract assets	76.6	$ 78
$ Change
Contract assets	(3.4)
Contract liabilities	(2)
Net contract assets	$ (1.4)
% Change
Contract assets	(4.60%)
Contract liabilities	(2.80%)
Net contract assets	(1.80%)

Revenue - Additional Informatio

Revenue - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Contract with Customer, Liability, Revenue Recognized, Percent	50.00%
Change in net contract assets	$ (1,400,000)
Impairment losses on contract assets	$ 0
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Revenues, percent	84.30%	90.30%
Transferred over Time
Disaggregation of Revenue [Line Items]
Revenues, percent	15.70%	9.70%

Revenue - Performance Obligatio

Revenue - Performance Obligations (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 168.7
Minimum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation period	12 months
Maximum | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation period	18 months

Revenue - Geographic Net Sales

Revenue - Geographic Net Sales Information by Segment (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Net sales	$ 1,269.7	$ 1,183.5
Water
Disaggregation of Revenue [Line Items]
Net sales	732.3	682.9
Water | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	732.3	682.9
Water | Operating Segments | Aquatic Systems
Disaggregation of Revenue [Line Items]
Net sales	240.4	222.5
Water | Operating Segments | Filtration Solutions
Disaggregation of Revenue [Line Items]
Net sales	251.6	230.8
Water | Operating Segments | Flow Technologies
Disaggregation of Revenue [Line Items]
Net sales	240.3	229.6
Water | Residential
Disaggregation of Revenue [Line Items]
Net sales	412.1	388.3
Water | Commercial
Disaggregation of Revenue [Line Items]
Net sales	151.8	144.7
Water | Industrial
Disaggregation of Revenue [Line Items]
Net sales	168.4	149.9
Water | U.S.
Disaggregation of Revenue [Line Items]
Net sales	452.2	431.2
Water | Western Europe
Disaggregation of Revenue [Line Items]
Net sales	110.3	95.3
Water | Developing
Disaggregation of Revenue [Line Items]
Net sales	113	104.9
Water | Other Developed
Disaggregation of Revenue [Line Items]
Net sales	56.8	51.5
Electrical
Disaggregation of Revenue [Line Items]
Net sales	538.9	502.2
Electrical | Operating Segments
Disaggregation of Revenue [Line Items]
Net sales	538.9	502.2
Electrical | Operating Segments | Enclosures
Disaggregation of Revenue [Line Items]
Net sales	254.1	226.5
Electrical | Operating Segments | Thermal Management
Disaggregation of Revenue [Line Items]
Net sales	147.9	145.4
Electrical | Operating Segments | Electrical & Fastening Solutions
Disaggregation of Revenue [Line Items]
Net sales	136.9	130.3
Electrical | Industrial
Disaggregation of Revenue [Line Items]
Net sales	243.5	220.5
Electrical | Commercial & Residential
Disaggregation of Revenue [Line Items]
Net sales	146	134.5
Electrical | Energy
Disaggregation of Revenue [Line Items]
Net sales	79.9	88
Electrical | Infrastructure
Disaggregation of Revenue [Line Items]
Net sales	69.5	59.2
Electrical | U.S.
Disaggregation of Revenue [Line Items]
Net sales	317	300.1
Electrical | Western Europe
Disaggregation of Revenue [Line Items]
Net sales	121.7	103.3
Electrical | Developing
Disaggregation of Revenue [Line Items]
Net sales	56.9	62.1
Electrical | Other Developed
Disaggregation of Revenue [Line Items]
Net sales	43.3	36.7
Other
Disaggregation of Revenue [Line Items]
Net sales	$ (1.5)	$ (1.6)

Discontinued Operations Additio

Discontinued Operations Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain from sale of discontinued operations, net of tax		$ (181.1)
Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Payments due to the sale of businesses, net		$ 3,150
Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Deal related costs and expenses	$ 11.2

Discontinued Operations Income

Discontinued Operations Income Statement (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Discontinued Operations and Disposal Groups [Abstract]
Net sales	$ 0	$ 356.5
Cost of goods sold	0	267.9
Gross profit	0	88.6
Selling, general and administrative	0	79.5
Research and development	0	4.2
Operating income	0	4.9
(Loss) income from discontinued operations before income taxes	(0.7)	5.7
Income tax provision (benefit)	0.6	(1.4)
(Loss) income from discontinued operations, net of tax	$ (1.3)	$ 7.1

Share Plans - Additional Inform

Share Plans - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 6	$ 16.4
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	2.4	5.8
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	1.2	4.5
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 2.4	$ 6.1

Restructuring - Additional Inf

Restructuring - Additional Information (Detail) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018USD ($)Person	Mar. 31, 2017USD ($)	Dec. 31, 2017Person
Restructuring Cost and Reserve [Line Items]
Number of employees | Person	200		500
Total restructuring costs	$ 10.8	$ 20.9
Water Unit [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees | Person	175		250
Total restructuring costs	$ 5.6	7.1
Electrical Unit [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees | Person	25		250
Total restructuring costs	$ 2.8	9.3
Corporate and Other [Member]
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	$ 2.4	$ 4.5

Restructuring - Restructuring R

Restructuring - Restructuring Related Costs Included in Selling, General & Administrative expenses on Consolidated Statements of Income (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 10.8	$ 20.9
Severance and related costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs	10.6	20.6
Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 0.2	$ 0.3

Restructuring - Restructuring A

Restructuring - Restructuring Accrual Activity recorded on Condensed Consolidated Balance Sheets (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 39.8
Costs incurred	10.6
Cash payments and other	(16.3)
Ending balance	$ 34.1

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share [Abstract]
Net income	$ 102.9	$ 87.8
Net income from continuing operations	$ 104.2	$ 80.7
Weighted average common shares outstanding
Basic (shares)	179.2	182
Dilutive impact of stock options, restricted stock units and performance share units	2.3	2
Diluted (shares)	181.5	184
Earnings (loss) Per Share, Basic
Continuing operations (in dollars per share)	$ 0.58	$ 0.44
Discontinued operations (in dollars per share)	(0.01)	0.04
Basic earnings (loss) per ordinary share (in dollars per share)	0.57	0.48
Earnings (loss) Per Share, Diluted
Continuing operations (in dollars per share)	0.58	0.44
Discontinued operations (in dollars per share)	(0.01)	0.04
Diluted earnings (loss) per ordinary share (in dollars per share)	$ 0.57	$ 0.48
Anti-dilutive stock options excluded from the calculation of diluted earnings per share	0.4	1.8

Supplemental Balance Sheet In52

Supplemental Balance Sheet Information (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Inventories
Raw materials and supplies	$ 255.7		$ 255.1
Work-in-process	86.3		83
Finished goods	251.5		242.9
Total inventories	593.5	$ 577.6	581
Other current assets
Cost in excess of billings	118		121.4
Prepaid expenses	78.9		80.7
Prepaid income taxes	26		15.3
Other current assets	9.9		5.5
Total other current assets	232.8	226.3	222.9
Property, plant and equipment, net
Land and land improvements	73.6		72.6
Buildings and leasehold improvements	361.4		354.5
Machinery and equipment	1,026.6		1,011.6
Construction in progress	38		35.1
Total property, plant and equipment	1,499.6		1,473.8
Accumulated depreciation and amortization	953.1		928.3
Total property, plant and equipment, net	546.5		545.5
Other non-current assets
Prepaid income taxes	0		254.3
Prepaid income taxes	54.3		43
Deferred compensation plan assets	43.6		49.4
Other non-current assets	88.1		83.2
Total other non-current assets	186	183.4	429.9
Other current liabilities
Dividends payable	62.4		63.1
Accrued warranty	45.2		41
Accrued rebates	71.9		92.7
Billings in excess of cost	30.2		29.9
Income taxes payable	23.9		31.1
Accrued restructuring	34.1		39.8
Other current liabilities	212.9		219.5
Total other current liabilities	480.6	$ 523.6	517.1
Other non-current liabilities
Income taxes payable	92.3		92.7
Self-insurance liabilities	51.1		48.3
Deferred compensation plan liabilities	43.6		49.4
Foreign Currency Contracts, Liability, Fair Value Disclosure	62.2		47.2
Other non-current liabilities	37.6		37.8
Total other non-current liabilities	$ 286.8		$ 275.4

Goodwill and Other Identifiab53

Goodwill and Other Identifiable Intangible Assets - Changes in Carrying Amount of Goodwill by Segment (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Goodwill [Roll Forward]
Beginning Balance	$ 4,351.1
Foreign currency translation/other	29
Ending Balance	4,380.1
Water Unit [Member]
Goodwill [Roll Forward]
Beginning Balance	2,112.9
Foreign currency translation/other	25.9
Ending Balance	2,138.8
Electrical Unit [Member]
Goodwill [Roll Forward]
Beginning Balance	2,238.2
Foreign currency translation/other	3.1
Ending Balance	$ 2,241.3

Goodwill and Other Identifiab54

Goodwill and Other Identifiable Intangible Assets - Detail of Identifiable Intangible Assets (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Acquired Intangible Assets By Major Class [Line Items]
Finite-Lived Intangible Assets, Gross	$ 1,650.1	$ 1,647.3
Accumulated amortization	(560.4)	(533.1)
Finite-Lived Intangible Assets, Net	1,089.7	1,114.2
Net, indefinite-life intangibles	446.8	444.2
Cost	2,096.9	2,091.5
Net	1,536.5	1,558.4
Customer relationships
Acquired Intangible Assets By Major Class [Line Items]
Finite-Lived Intangible Assets, Gross	1,514.9	1,513.9
Accumulated amortization	(460.5)	(437.5)
Finite-Lived Intangible Assets, Net	1,054.4	1,076.4
Trade names intangibles
Acquired Intangible Assets By Major Class [Line Items]
Finite-Lived Intangible Assets, Gross	1.5	1.5
Accumulated amortization	(1.5)	(1.4)
Finite-Lived Intangible Assets, Net	0	0.1
Patented Technology [Member]
Acquired Intangible Assets By Major Class [Line Items]
Finite-Lived Intangible Assets, Gross	133.7	131.9
Accumulated amortization	(98.4)	(94.2)
Finite-Lived Intangible Assets, Net	$ 35.3	$ 37.7

Goodwill and Other Identifiab55

Goodwill and Other Identifiable Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Payments to Acquire Businesses, Net of Cash Acquired	$ 2.9	$ 56.7
Intangible asset amortization expense	$ 24.7	$ 24

Goodwill and Other Identifiab56

Goodwill and Other Identifiable Intangible Assets - Estimated Future Amortization Expense for Identifiable Intangible Assets (Detail) $ in Millions	Mar. 31, 2018USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Q2 - Q4 2018	$ 72
2,019	89.4
2,020	84.1
2,021	77.5
2,022	69.8
2,023	$ 67.2

Debt - Debt and Average Interes

Debt - Debt and Average Interest Rates on Debt Outstanding (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense	$ (12.9)	$ (6.8)
Total debt	2,673.3	1,440.7
Current maturities and short-term borrowings	(0.2)	0
Long-term debt	$ 2,673.1	1,440.7
Commercial Paper
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	2.34%
Commercial Paper	$ 257.8	34
Senior Notes 2.900% Due 2018 | Senior Notes
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	2.90%
Total debt	$ 255.3	255.3
Senior Notes 2.650% Due 2019 | Senior Notes
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	2.65%
Total debt	$ 250	250
Senior Notes 2.45% Due 2019 | Senior Notes
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	2.45%
Total debt	$ 615.4	594.4
Senior Notes 3.625% Due 2020 | Senior Notes
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	3.625%
Total debt	$ 74	74
Senior Notes 5.000% Due 2021 | Senior Notes
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	5.00%
Total debt	$ 103.8	103.8
Senior Notes 3.150% Due 2022 | Senior Notes
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	3.15%
Total debt	$ 88.3	88.3
Senior Notes 4.650% Due 2025 | Senior Notes
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	4.65%
Total debt	$ 19.3	19.3
Senior Notes 3.950% Due 2023 | Senior Notes
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	3.95%
Total debt	$ 300	0
Senior Notes 4.550% Due 2028 | Senior Notes
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	4.55%
Total debt	$ 500	0
Other Debt Obligations | Other Debt Obligations
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	8.545%
Total debt	$ 0.2	0
Revolving Credit Facility | Long Term Revolving Credit Facility
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	3.43%
Total debt	$ 222.1	$ 28.4

Debt - Additional Information

Debt - Additional Information (Detail)	Apr. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Leverage ratio covenant period			12 months
Debt		$ 2,673,300,000	$ 2,673,300,000	$ 1,440,700,000
Maximum
Debt Instrument [Line Items]
Commitment fee percentage			0.25%
Costs and expenses incurred in connection with acquisition excluded from computation of Net Income figure used in our debt covenant calculation			$ 25,000,000
Debt agreement financial covenant, leverage ratio		1	1
EBITDA Ratio for Debt		3	3
Minimum
Debt Instrument [Line Items]
Commitment fee percentage			0.09%
Debt agreement financial covenant, leverage ratio		3.5	3.5
EBITDA Ratio for Debt		1	1
nVent Term Loan Facility
Debt Instrument [Line Items]
Debt term		5 years
Credit facility maximum borrowing capacity		$ 200,000,000	$ 200,000,000
Line of credit facility, amount outstanding		$ 0	0
nVent Revolving Credit Facility
Debt Instrument [Line Items]
Debt term		5 years
Credit facility maximum borrowing capacity		$ 600,000,000	600,000,000
Credit facility additional borrowing capacity		300,000,000	300,000,000
Line of credit facility, amount outstanding		0	0
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity		2,500,000,000	2,500,000,000
Remaining availability under Credit Facility		2,220,100,000	2,220,100,000
Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Remaining availability under Credit Facility		183,400,000	183,400,000
Commercial Paper
Debt Instrument [Line Items]
Commercial Paper		257,800,000	257,800,000	34,000,000
Senior Notes | Senior Notes 3.950% Due 2023
Debt Instrument [Line Items]
Debt face amount		$ 300,000,000	$ 300,000,000
Interest rate		3.95%	3.95%
Debt		$ 300,000,000	$ 300,000,000	0
Senior Notes | Senior Notes 4.550% Due 2028
Debt Instrument [Line Items]
Debt face amount		$ 500,000,000	$ 500,000,000
Interest rate		4.55%	4.55%
Debt		$ 500,000,000	$ 500,000,000	0
Senior Notes | Senior Notes 2.900% Due 2018
Debt Instrument [Line Items]
Debt		255,300,000	255,300,000	$ 255,300,000
Other Credit Facilities
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity		31,200,000	31,200,000
Line of credit facility, amount outstanding		$ 200,000	$ 200,000
nVent Finance | Forecast
Debt Instrument [Line Items]
Excess cash threshold for payments to acquire assets	$ 50,000,000
nVent Finance | Forecast | nVent Term Loan Facility
Debt Instrument [Line Items]
Line of credit facility, amount outstanding	200,000,000
nVent Finance | Forecast | nVent Revolving Credit Facility
Debt Instrument [Line Items]
Line of credit facility, amount outstanding	$ 0

Debt - Debt Outstanding Matures

Debt - Debt Outstanding Matures on Calendar Year Basis (Detail) $ in Millions	Mar. 31, 2018USD ($)
Debt Instrument [Line Items]
Q4 2017	$ 0.2
2,018	1,600.6
2,019	74
2,020	103.8
2,021	88.3
2,022	300
Thereafter	519.3
Total debt, excluding unamortized issuance costs and discounts	$ 2,686.2

Derivatives and Financial Ins60

Derivatives and Financial Instruments - Additional Information (Detail) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 30, 2015EUR (€)
Derivative [Line Items]
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax	$ (50.6)	$ (29.6)
Impaired Assets to be Disposed of by Method Other than Sale, Carrying Value of Asset		27
Foreign Exchange Contract [Member]
Derivative [Line Items]
Notional amount	$ 406	$ 481.4
Senior Notes 2.45% Due 2019 | Senior Notes
Derivative [Line Items]
Amount of hedged item | €			€ 500,000,000
Interest rate			2.45%

Derivatives and Financial Ins61

Derivatives and Financial Instruments - Recorded Amounts and Estimated Fair Values of Long-term Debt and Derivative Financial Instruments (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Derivative [Line Items]
Total debt, excluding unamortized issuance costs and discounts	$ 2,686.2
Recorded Amount
Derivative [Line Items]
Variable rate debt	480.1	$ 62.4
Fixed rate debt	2,206.1	1,385.1
Total debt, excluding unamortized issuance costs and discounts	2,686.2	1,447.5
Fair Value
Derivative [Line Items]
Variable rate debt	480.1	62.4
Fixed rate debt	2,250.8	1,424
Total debt, excluding unamortized issuance costs and discounts	$ 2,730.9	$ 1,486.4

Derivatives and Financial Ins62

Derivatives and Financial Instruments - Assets and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Mar. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of Intangible Assets (Excluding Goodwill)	$ 25.2
Foreign Currency Contracts, Liability, Fair Value Disclosure	(47.2)	$ (62.2)
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract assets	0.6	0.6
Foreign Currency Contracts, Liability, Fair Value Disclosure	(47.2)	(62.2)
Deferred compensation plan	49.4	43.6
Derivative Assets (Liabilities), at Fair Value, Net	2.8	(18)
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
Foreign Currency Contracts, Liability, Fair Value Disclosure	0	0
Deferred compensation plan	42.8	36.8
Derivative Assets (Liabilities), at Fair Value, Net	42.8	36.8
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	0.6	0.6
Foreign Currency Contracts, Liability, Fair Value Disclosure	(47.2)	(62.2)
Deferred compensation plan	6.6	6.8
Derivative Assets (Liabilities), at Fair Value, Net	(40)	(54.8)
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract assets	0	0
Foreign Currency Contracts, Liability, Fair Value Disclosure	0	0
Deferred compensation plan	0	0
Derivative Assets (Liabilities), at Fair Value, Net	$ 0	$ 0

Income Taxes - Additional Info

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2017
Income Taxes [Line Items]
Effective Income Tax Rate Reconciliation, Percent	20.94082%		22.10%
Total gross liability for unrecognized tax benefits	$ 35.3	$ 36.6		$ 36.6
Transition tax expense		62.9
Federal Tax Reform [Member]
Income Taxes [Line Items]
Federal Statutory Income Tax Rate, Historical				35.00%
Tax Cuts and Jobs Act of 2017, Corporate Federal Tax Rate				21.00%
Provisional income tax benefit		84.8
Decrease of income tax expense related to remeasurement of certain deferred tax assets and liabilities due to lower tax rate		$ 147.7

Benefit Plans - Components of N

Benefit Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Domestic Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0.8	$ 2.6
Interest cost	3	4.1
Expected return on plan assets	(2.2)	(2.9)
Net periodic benefit cost	1.6	3.8
Foreign Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	1.8	1.8
Interest cost	1.1	0.9
Expected return on plan assets	(0.4)	(0.3)
Net periodic benefit cost	$ 2.5	$ 2.4

Shareholders' Equity - Additio

Shareholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions	Dec. 05, 2017	Mar. 31, 2018	Dec. 31, 2014	Feb. 27, 2018	Dec. 31, 2017
Stockholders Equity Note Disclosure [Line Items]
Dividends Payable, Amount Per Share	$ 0.35			$ 0.35
Share repurchase (in shares)		2.2
Stock Repurchased During Period, Value		$ 150,000,000
ApprovedNotDeclaredlDividends	$ 1.40
Dividends payable		62,400,000			$ 63,100,000
December 2014 Share Repurchase Program [Member]
Stockholders Equity Note Disclosure [Line Items]
Repurchase of shares of our common stock up to a maximum aggregate value			$ 1,000,000,000
Common stock authorized for repurchase, expiration date			Dec. 31, 2019
Share repurchase program remaining available amount		$ 450,000,172

Segment Information - Financial

Segment Information - Financial Information by Reportable Segment (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting Information [Line Items]
Net sales	$ 1,269.7	$ 1,183.5
Segment income	152.3	140.6
Water Unit [Member]
Segment Reporting Information [Line Items]
Net sales	732.3	682.9
Segment income	132.7	116.1
Electrical Unit [Member]
Segment Reporting Information [Line Items]
Net sales	538.9	502.2
Segment income	106.3	104.3
Other
Segment Reporting Information [Line Items]
Net sales	(1.5)	(1.6)
Segment income	(28.5)	(34.7)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Segment income	$ 210.5	$ 185.7

Segment Information Reconciliat

Segment Information Reconciliation of Operating Profit (Loss) from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment income	$ 152.3	$ 140.6
Restructuring and other	(10.8)	(20.9)
Intangible amortization	(24.7)	(24)
Loss on sale of business	(5.3)	0
Other expense	1.4	2
Income from continuing operations before income taxes	131.8	103.6
Operating Segments [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment income	210.5	185.7
Segment Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Restructuring and other	(8.3)	(20.9)
Intangible amortization	(24.7)	(24)
Loss on sale of business	(5.3)	0
Separation costs	(24.6)	0
Net interest expense	(13.8)	(35)
Other expense	$ (2)	$ (2.2)

Commitments and Contingencies

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Letters of credit outstanding	$ 189.7	$ 201.5

Commitments and Contingencies -

Commitments and Contingencies - Changes in Carrying Amount of Service and Product Warranties (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 41
Service and product warranty provision	16.5
Payments	(12.4)
Foreign currency translation	0.1
Ending balance	$ 45.2

Financial Statements of Paren70

Financial Statements of Parent Company Guarantor - Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Net sales	$ 1,269.7	$ 1,183.5
Cost of goods sold	807.7	761.2
Gross profit	462	422.3
Selling, general and administrative	279.6	251.7
Research and development	30.1	30
Operating income	152.3	140.6
Loss (earnings) from continuing operations of investment in subsidiaries	0	0
Other (income) expense:
Loss on sale of business	5.3	0
Net interest expense	13.8	35
Other expense	1.4	2
Income from continuing operations before income taxes	131.8	103.6
Provision for income taxes	27.6	22.9
Net income from continuing operations	104.2	80.7
(Loss) income from discontinued operations, net of tax	(1.3)	7.1
Earnings (loss) from discontinued operations of investment in subsidiaries	0	0
Comprehensive income, net of tax
Net income	102.9	87.8
Changes in cumulative translation adjustment	(2.4)	(75.7)
Changes in market value of derivative financial instruments, net of tax	(3.8)	1.6
Comprehensive income	101.5	165.1
Parent Company Guarantor
Condensed Financial Statements, Captions [Line Items]
Net sales	0	0
Cost of goods sold	0	0
Gross profit	0	0
Selling, general and administrative	7.1	(11)
Research and development	0	0
Operating income	(7.1)	11
Loss (earnings) from continuing operations of investment in subsidiaries	(111.3)	(69.7)
Other (income) expense:
Loss on sale of business	0
Net interest expense	0	0
Other expense	0	0
Income from continuing operations before income taxes	104.2	80.7
Provision for income taxes	0	0
Net income from continuing operations	104.2	80.7
(Loss) income from discontinued operations, net of tax	0	0
Earnings (loss) from discontinued operations of investment in subsidiaries	(1.3)	7.1
Comprehensive income, net of tax
Net income	102.9	87.8
Changes in cumulative translation adjustment	(2.4)	(75.7)
Changes in market value of derivative financial instruments, net of tax	(3.8)	1.6
Comprehensive income	101.5	165.1
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net sales	0	0
Cost of goods sold	0	0
Gross profit	0	0
Selling, general and administrative	0	0.1
Research and development	0	0
Operating income	0	(0.1)
Loss (earnings) from continuing operations of investment in subsidiaries	(110.7)	(69.7)
Other (income) expense:
Loss on sale of business	0
Net interest expense	(0.3)	(0.1)
Other expense	0	0
Income from continuing operations before income taxes	111	69.7
Provision for income taxes	0	0
Net income from continuing operations	111	69.7
(Loss) income from discontinued operations, net of tax	0	0
Earnings (loss) from discontinued operations of investment in subsidiaries	(1.3)	7.1
Comprehensive income, net of tax
Net income	109.7	76.8
Changes in cumulative translation adjustment	(2.4)	(75.7)
Changes in market value of derivative financial instruments, net of tax	(3.8)	1.6
Comprehensive income	108.3	154.1
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Net sales	0	0
Cost of goods sold	0	0
Gross profit	0	0
Selling, general and administrative	0.1	0.4
Research and development	0	0
Operating income	(0.1)	(0.4)
Loss (earnings) from continuing operations of investment in subsidiaries	(123.7)	(98.5)
Other (income) expense:
Loss on sale of business	0
Net interest expense	12.6	28.4
Other expense	0	0
Income from continuing operations before income taxes	111	69.7
Provision for income taxes	0	0
Net income from continuing operations	111	69.7
(Loss) income from discontinued operations, net of tax	0	0
Earnings (loss) from discontinued operations of investment in subsidiaries	(1.3)	7.1
Comprehensive income, net of tax
Net income	109.7	76.8
Changes in cumulative translation adjustment	(2.4)	(75.7)
Changes in market value of derivative financial instruments, net of tax	(3.8)	1.6
Comprehensive income	108.3	154.1
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net sales	1,269.7	1,183.5
Cost of goods sold	807.7	761.2
Gross profit	462	422.3
Selling, general and administrative	272.4	262.2
Research and development	30.1	30
Operating income	159.5	130.1
Loss (earnings) from continuing operations of investment in subsidiaries	0	0
Other (income) expense:
Loss on sale of business	5.3
Net interest expense	1.5	6.7
Other expense	1.4	2
Income from continuing operations before income taxes	151.3	121.4
Provision for income taxes	27.6	22.9
Net income from continuing operations	123.7	98.5
(Loss) income from discontinued operations, net of tax	(1.3)	7.1
Earnings (loss) from discontinued operations of investment in subsidiaries	0	0
Comprehensive income, net of tax
Net income	122.4	105.6
Changes in cumulative translation adjustment	(2.4)	(75.7)
Changes in market value of derivative financial instruments, net of tax	(3.8)	1.6
Comprehensive income	121	182.9
Consolidation, Eliminations
Condensed Financial Statements, Captions [Line Items]
Net sales	0	0
Cost of goods sold	0	0
Gross profit	0	0
Selling, general and administrative	0	0
Research and development	0	0
Operating income	0	0
Loss (earnings) from continuing operations of investment in subsidiaries	345.7	237.9
Other (income) expense:
Loss on sale of business	0
Net interest expense	0	0
Other expense	0
Income from continuing operations before income taxes	(345.7)	(237.9)
Provision for income taxes	0	0
Net income from continuing operations	(345.7)	(237.9)
(Loss) income from discontinued operations, net of tax	0	0
Earnings (loss) from discontinued operations of investment in subsidiaries	3.9	(21.3)
Comprehensive income, net of tax
Net income	(341.8)	(259.2)
Changes in cumulative translation adjustment	7.2	227.1
Changes in market value of derivative financial instruments, net of tax	11.4	(4.8)
Comprehensive income	$ (337.6)	$ (491.1)

Financial Statements of Paren71

Financial Statements of Parent Company Guarantor - Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Millions	Mar. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Mar. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 907.5		$ 113.3	$ 238.1	$ 238.5
Accounts and notes receivable, net	985.2	$ 838.1	831.6
Inventories	593.5	577.6	581
Other current assets	232.8	226.3	222.9
Total current assets	2,719		1,748.8
Property, plant and equipment, net	546.5		545.5
Other assets
Investments in subsidiaries	0		0
Goodwill	4,380.1		4,351.1
Intangibles, net	1,536.5		1,558.4
Long-term intercompany debt			0
Other non-current assets	186	183.4	429.9
Total other assets	6,102.6		6,339.4
Total assets	9,368.1		8,633.7
Current liabilities
Current maturities of long-term debt and short-term borrowings	0.2		0
Accounts payable	404		495.7
Employee compensation and benefits	142.7		186.6
Other current liabilities	480.6	523.6	517.1
Total current liabilities	1,027.5		1,199.4
Other liabilities
Long-term debt	2,673.1		1,440.7
Pension and other post-retirement compensation and benefits	291.9		285.6
Deferred tax liabilities	369.1	$ 364.6	394.8
Other non-current liabilities	286.8		275.4
Total liabilities	4,648.4		3,595.9
Equity
Total equity	4,719.7		5,037.8	4,374.8	4,254.4
Total liabilities and equity	9,368.1		8,633.7
Parent Company Guarantor
Current assets
Cash and cash equivalents	0.2		0	0	0
Accounts and notes receivable, net	0		0
Inventories	0		0
Other current assets	0.9		10.8
Total current assets	1.1		10.8
Property, plant and equipment, net	0		0
Other assets
Investments in subsidiaries	5,104.8		5,205.1
Goodwill	0		0
Intangibles, net	0		0
Long-term intercompany debt			0
Other non-current assets	2.2		2.2
Total other assets	5,107		5,207.3
Total assets	5,108.1		5,218.1
Current liabilities
Current maturities of long-term debt and short-term borrowings	0
Accounts payable	1.5		1.4
Employee compensation and benefits	0.4		0.4
Other current liabilities	69.8		99.6
Total current liabilities	71.7		101.4
Other liabilities
Long-term debt	286.5		48.4
Pension and other post-retirement compensation and benefits	0		0
Deferred tax liabilities	0		0
Other non-current liabilities	30.2		30.5
Total liabilities	388.4		180.3
Equity
Total equity	4,719.7		5,037.8
Total liabilities and equity	5,108.1		5,218.1
Guarantor Subsidiaries
Current assets
Cash and cash equivalents	0		0	0	0
Accounts and notes receivable, net	0		0
Inventories	0		0
Other current assets	0.2		1.8
Total current assets	0.2		1.8
Property, plant and equipment, net	0		0
Other assets
Investments in subsidiaries	5,009		5,109.6
Goodwill	0		0
Intangibles, net	0		0
Long-term intercompany debt			94.1
Other non-current assets	96		0
Total other assets	5,105		5,203.7
Total assets	5,105.2		5,205.5
Current liabilities
Current maturities of long-term debt and short-term borrowings	0
Accounts payable	0		0
Employee compensation and benefits	0		0
Other current liabilities	0.4		0.4
Total current liabilities	0.4		0.4
Other liabilities
Long-term debt	0		0
Pension and other post-retirement compensation and benefits	0		0
Deferred tax liabilities	0		0
Other non-current liabilities	0		0
Total liabilities	0.4		0.4
Equity
Total equity	5,104.8		5,205.1
Total liabilities and equity	5,105.2		5,205.5
Subsidiary Issuer
Current assets
Cash and cash equivalents	0		0	0.1	0
Accounts and notes receivable, net	0		0
Inventories	0		0
Other current assets	5.1		1.5
Total current assets	5.1		1.5
Property, plant and equipment, net	0		0
Other assets
Investments in subsidiaries	7,068.3		7,156.1
Goodwill	0		0
Intangibles, net	0		0
Long-term intercompany debt			614
Other non-current assets	870.6		0
Total other assets	7,938.9		7,770.1
Total assets	7,944		7,771.6
Current liabilities
Current maturities of long-term debt and short-term borrowings	0
Accounts payable	0		0
Employee compensation and benefits	0		0
Other current liabilities	12.5		9.4
Total current liabilities	12.5		9.4
Other liabilities
Long-term debt	2,922.7		2,652.8
Pension and other post-retirement compensation and benefits	0		0
Deferred tax liabilities	0		0
Other non-current liabilities	0		0
Total liabilities	2,935.2		2,662.2
Equity
Total equity	5,008.8		5,109.4
Total liabilities and equity	7,944		7,771.6
Non-Guarantor Subsidiaries
Current assets
Cash and cash equivalents	907.3		113.3	238	238.5
Accounts and notes receivable, net	985.2		831.6
Inventories	593.5		581
Other current assets	236.1		239.3
Total current assets	2,722.1		1,765.2
Property, plant and equipment, net	546.5		545.5
Other assets
Investments in subsidiaries	0		0
Goodwill	4,380.1		4,351.1
Intangibles, net	1,536.5		1,558.4
Long-term intercompany debt			(708.1)
Other non-current assets	1,283.4		2,317.1
Total other assets	7,200		7,518.5
Total assets	10,468.6		9,829.2
Current liabilities
Current maturities of long-term debt and short-term borrowings	0.2
Accounts payable	402.5		494.3
Employee compensation and benefits	142.3		186.2
Other current liabilities	407.4		438.2
Total current liabilities	952.4		1,118.7
Other liabilities
Long-term debt	1,530.1		628.9
Pension and other post-retirement compensation and benefits	291.9		285.6
Deferred tax liabilities	369.1		394.8
Other non-current liabilities	256.6		244.9
Total liabilities	3,400.1		2,672.9
Equity
Total equity	7,068.5		7,156.3
Total liabilities and equity	10,468.6		9,829.2
Consolidation, Eliminations
Current assets
Cash and cash equivalents	0		0	$ 0	$ 0
Accounts and notes receivable, net	0		0
Inventories	0		0
Other current assets	(9.5)		(30.5)
Total current assets	(9.5)		(30.5)
Property, plant and equipment, net	0		0
Other assets
Investments in subsidiaries	(17,182.1)		(17,470.8)
Goodwill	0		0
Intangibles, net	0		0
Long-term intercompany debt			0
Other non-current assets	(2,066.2)		(1,889.4)
Total other assets	(19,248.3)		(19,360.2)
Total assets	(19,257.8)		(19,390.7)
Current liabilities
Current maturities of long-term debt and short-term borrowings	0
Accounts payable	0		0
Employee compensation and benefits	0		0
Other current liabilities	(9.5)		(30.5)
Total current liabilities	(9.5)		(30.5)
Other liabilities
Long-term debt	(2,066.2)		(1,889.4)
Pension and other post-retirement compensation and benefits	0		0
Deferred tax liabilities	0		0
Other non-current liabilities	0		0
Total liabilities	(2,075.7)		(1,919.9)
Equity
Total equity	(17,182.1)		(17,470.8)
Total liabilities and equity	$ (19,257.8)		$ (19,390.7)

Financial Statements of Paren72

Financial Statements of Parent Company Guarantor - Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Operating activities
Net cash provided by (used for) operating activities	$ (167.6)	$ (106)
Investing activities
Capital expenditures	(16.8)	(23.6)
Proceeds from sale of property and equipment	2.3	0
Payments due to the sale of businesses, net	(13.8)	0
Acquisitions, net of cash acquired	(2.9)	(56.7)
Intercompany Loan Activity, Net	0	0
Net cash provided by (used for) investing activities of continuing operations	(31.2)	(80.3)
Net cash provided by (used for) investing activities of discontinued operations	0	(3.7)
Net cash provided by (used for) investing activities	(31.2)	(84)
Financing activities
Net receipts of short-term borrowings	0.2	(0.1)
Net receipts of commercial paper and revolving long-term debt	417.5	229.1
Proceeds from long-term debt	800	0
Debt issuance costs	(7.5)	0
Net change in advances to subsidiaries	0	0
Shares issued to employees, net of shares withheld	0.9	2.8
Repurchases of ordinary shares	(150)	0
Dividends paid	(63.3)	(62.8)
Net cash provided by (used for) financing activities	997.8	169
Effect of exchange rate changes on cash and cash equivalents	(4.8)	20.6
Change in cash and cash equivalents	794.2	(0.4)
Cash and cash equivalents, beginning of period	113.3	238.5
Cash and cash equivalents, end of period	907.5	238.1
Parent Company Guarantor
Operating activities
Net cash provided by (used for) operating activities	83.4	49.8
Investing activities
Capital expenditures	0	0
Proceeds from sale of property and equipment	0
Payments due to the sale of businesses, net	0
Acquisitions, net of cash acquired	0	0
Intercompany Loan Activity, Net	0	0
Net cash provided by (used for) investing activities of continuing operations		0
Net cash provided by (used for) investing activities of discontinued operations		0
Net cash provided by (used for) investing activities	0	0
Financing activities
Net receipts of short-term borrowings	0	0
Net receipts of commercial paper and revolving long-term debt	0	0
Proceeds from long-term debt	0
Debt issuance costs	0
Net change in advances to subsidiaries	129.2	10.2
Shares issued to employees, net of shares withheld	0.9	2.8
Repurchases of ordinary shares	(150)
Dividends paid	(63.3)	(62.8)
Net cash provided by (used for) financing activities	(83.2)	(49.8)
Effect of exchange rate changes on cash and cash equivalents	0	0
Change in cash and cash equivalents	0.2	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0.2	0
Guarantor Subsidiaries
Operating activities
Net cash provided by (used for) operating activities	111.3	75.1
Investing activities
Capital expenditures	0	0
Proceeds from sale of property and equipment	0
Payments due to the sale of businesses, net	0
Acquisitions, net of cash acquired	0	0
Intercompany Loan Activity, Net	(1.9)	0
Net cash provided by (used for) investing activities of continuing operations		0
Net cash provided by (used for) investing activities of discontinued operations		0
Net cash provided by (used for) investing activities	(1.9)	0
Financing activities
Net receipts of short-term borrowings	0	0
Net receipts of commercial paper and revolving long-term debt	0	0
Proceeds from long-term debt	0
Debt issuance costs	0
Net change in advances to subsidiaries	(109.4)	(75.1)
Shares issued to employees, net of shares withheld	0	0
Repurchases of ordinary shares	0
Dividends paid	0	0
Net cash provided by (used for) financing activities	(109.4)	(75.1)
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 period	0	0
Cash and cash equivalents, end of period	0	0
Subsidiary Issuer
Operating activities
Net cash provided by (used for) operating activities	109.1	69.5
Investing activities
Capital expenditures	0	0
Proceeds from sale of property and equipment	0
Payments due to the sale of businesses, net	0
Acquisitions, net of cash acquired	0	0
Intercompany Loan Activity, Net	(262.6)	(530.4)
Net cash provided by (used for) investing activities of continuing operations		(530.4)
Net cash provided by (used for) investing activities of discontinued operations		0
Net cash provided by (used for) investing activities	(262.6)	(530.4)
Financing activities
Net receipts of short-term borrowings	0	0
Net receipts of commercial paper and revolving long-term debt	223.8	234
Proceeds from long-term debt	0
Debt issuance costs	0
Net change in advances to subsidiaries	(91.4)	206.9
Shares issued to employees, net of shares withheld	0	0
Repurchases of ordinary shares	0
Dividends paid	0	0
Net cash provided by (used for) financing activities	132.4	440.9
Effect of exchange rate changes on cash and cash equivalents	21.1	20.1
Change in cash and cash equivalents	0	0.1
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	0	0.1
Non-Guarantor Subsidiaries
Operating activities
Net cash provided by (used for) operating activities	(129.7)	(41)
Investing activities
Capital expenditures	(16.8)	(23.6)
Proceeds from sale of property and equipment	2.3
Payments due to the sale of businesses, net	(13.8)
Acquisitions, net of cash acquired	(2.9)	(56.7)
Intercompany Loan Activity, Net	103.1	(290.2)
Net cash provided by (used for) investing activities of continuing operations		(370.5)
Net cash provided by (used for) investing activities of discontinued operations		(3.7)
Net cash provided by (used for) investing activities	71.9	(374.2)
Financing activities
Net receipts of short-term borrowings	0.2	(0.1)
Net receipts of commercial paper and revolving long-term debt	193.7	(4.9)
Proceeds from long-term debt	800
Debt issuance costs	(7.5)
Net change in advances to subsidiaries	(108.7)	419.2
Shares issued to employees, net of shares withheld	0	0
Repurchases of ordinary shares	0
Dividends paid	0	0
Net cash provided by (used for) financing activities	877.7	414.2
Effect of exchange rate changes on cash and cash equivalents	(25.9)	0.5
Change in cash and cash equivalents	794	(0.5)
Cash and cash equivalents, beginning of period	113.3	238.5
Cash and cash equivalents, end of period	907.3	238
Consolidation, Eliminations
Operating activities
Net cash provided by (used for) operating activities	(341.7)	(259.4)
Investing activities
Capital expenditures	0	0
Proceeds from sale of property and equipment	0
Payments due to the sale of businesses, net	0
Acquisitions, net of cash acquired	0	0
Intercompany Loan Activity, Net	161.4	820.6
Net cash provided by (used for) investing activities of continuing operations		820.6
Net cash provided by (used for) investing activities of discontinued operations		0
Net cash provided by (used for) investing activities	161.4	820.6
Financing activities
Net receipts of short-term borrowings	0	0
Net receipts of commercial paper and revolving long-term debt	0	0
Proceeds from long-term debt	0
Debt issuance costs	0
Net change in advances to subsidiaries	180.3	(561.2)
Shares issued to employees, net of shares withheld	0	0
Repurchases of ordinary shares	0
Dividends paid	0	0
Net cash provided by (used for) financing activities	180.3	(561.2)
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 period	0	0
Cash and cash equivalents, end of period	$ 0	$ 0

Financial Statements of Paren73

Financial Statements of Parent Company Guarantor - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2018
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Ownership percentage	100.00%