Carlisle Companies (CSL) 10-Q 23 Jul 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Jul. 20, 2015
Document and Entity Information
Entity Registrant Name	CARLISLE COMPANIES INC
Entity Central Index Key	790,051
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		65,228,723
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings and Comprehensive Income - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Condensed Consolidated Statements of Earnings and Comprehensive Income
Net sales	$ 984.6	$ 859.5	$ 1,693.9	$ 1,509.9
Costs and expenses:
Cost of goods sold	699.2	634.9	1,235.5	1,123.3
Selling and administrative expenses	125.6	95.4	223.7	187.6
Research and development expenses	10.9	8.5	19.7	16.4
Other expense (income), net	0.9	(1.6)	0.6	(2.7)
Earnings before interest and income taxes	148	122.3	214.4	185.3
Interest expense, net	8.5	8	16.9	16
Earnings before income taxes from continuing operations	139.5	114.3	197.5	169.3
Income tax expense (Note 6)	44.7	38.6	63.2	57.2
Income from continuing operations	94.8	75.7	134.3	112.1
Discontinued operations
Income (loss) before income taxes	0.2	(0.1)		(1.2)
Income tax (benefit) expense	0.1	0.4		(0.1)
Income (loss) from discontinued operations	0.1	(0.5)		(1.1)
Net income	$ 94.9	$ 75.2	$ 134.3	$ 111
Basic earnings (loss) per share attributable to common shares
Income from continuing operations (in dollars per share)	$ 1.45	$ 1.17	$ 2.05	$ 1.73
loss from discontinued operations (in dollars per share)		(0.01)		(0.01)
Basic earnings per share (in dollars per share)	1.45	1.16	2.05	1.72
Diluted earnings (loss) per share attributable to common shares
Income from continuing operations (in dollars per share)	1.43	1.15	2.02	1.70
Loss from discontinued operations (in dollars per share)		(0.01)		(0.01)
Diluted earnings per share (in dollars per share)	$ 1.43	$ 1.14	$ 2.02	$ 1.69
Average shares outstanding - in thousands
Basic (in shares)	65,010	64,100	64,943	63,990
Diluted (in shares)	66,018	65,441	65,933	65,329
Dividends declared and paid	$ 16.4	$ 14.6	$ 33.1	$ 28.8
Dividends declared and paid per share (in dollars per share)	$ 0.25	$ 0.22	$ 0.50	$ 0.44
Comprehensive Income
Net income	$ 94.9	$ 75.2	$ 134.3	$ 111
Other comprehensive income (loss)
Change in foreign currency translation	12.2	(1.3)	(8.5)	1.7
Change in accrued post-retirement benefit liability, net of tax	0.8		1.6	0.6
Loss on hedging activities, net of tax	(0.1)	(0.1)	(0.2)	(0.2)
Other comprehensive income (loss)	12.9	(1.4)	(7.1)	2.1
Comprehensive income	$ 107.8	$ 73.8	$ 127.2	$ 113.1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 229.2	$ 730.8
Receivables, net of allowance of $5.9 in 2015 and $4.8 in 2014	636.5	439.2
Inventories (Note 8)	391.9	339.1
Deferred income taxes	35.4	35.4
Prepaid expenses and other current assets	46.4	67
Total current assets	1,339.4	1,611.5
Property, plant, and equipment, net of accumulated depreciation of $542.8 in 2015 and $513.7 in 2014 (Note 9)	583.4	547.3
Other assets:
Goodwill, net (Note 10)	1,139.7	964.5
Other intangible assets, net (Note 10)	924.5	611.7
Other long-term assets	26.4	23.7
Total other assets	2,090.6	1,599.9
TOTAL ASSETS	4,013.4	3,758.7
Current liabilities:
Accounts payable	280.1	198
Accrued expenses	199.8	176.3
Deferred revenue (Note 14)	30.3	17.9
Total current liabilities	510.2	392.2
Long-term liabilities:
Long-term debt (Note 12)	748.5	749.8
Deferred revenue (Note 14)	152.9	151.1
Other long-term liabilities (Note 16)	296.1	260.6
Total long-term liabilities	$ 1,197.5	$ 1,161.5
Shareholders' equity:
Preferred stock, $1 par value per share. Authorized and unissued 5,000,000 shares
Common stock, $1 par value per share. Authorized 100,000,000 shares; 78,661,248 shares issued; 65,042,563 outstanding in 2015 and 64,691,059 outstanding in 2014	$ 78.7	$ 78.7
Additional paid-in capital	278.1	247.8
Deferred Compensation - equity (Note 5)	8.4	6
Cost of shares in treasury - 13,391,563 shares in 2015 and 13,723,201 shares in 2014	(226.2)	(200.1)
Accumulated other comprehensive loss (Note 17)	(68.9)	(61.8)
Retained earnings	2,235.6	2,134.4
Total shareholders' equity	2,305.7	2,205
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 4,013.4	$ 3,758.7

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Condensed Consolidated Balance Sheets
Receivables, allowance (in dollars)	$ 5.9	$ 4.8
Property, plant and equipment, accumulated depreciation (in dollars)	$ 542.8	$ 513.7
Preferred stock, par value (in dollars per share)	$ 1	$ 1
Preferred stock, Authorized shares	5,000,000	5,000,000
Preferred stock, unissued shares	5,000,000	5,000,000
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, Authorized shares	100,000,000	100,000,000
Common stock, shares issued	78,661,248	78,661,248
Common stock, shares outstanding	65,042,563	64,691,059
Treasury, shares	13,391,563	13,723,201

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating activities
Net income	$ 134.3	$ 111
Reconciliation of net income to cash flows provided by operating activities:
Depreciation	36	31.4
Amortization	25.8	18.9
Non-cash compensation, net of tax benefit	(2.4)	7.4
(Gain) loss on sale of property and equipment, net	0.1	(1.9)
Deferred taxes	1.4	1.8
Foreign exchange loss	0.6	0.1
Changes in assets and liabilities, excluding effects of acquisitions and divestitures:
Receivables	(141.7)	(135.2)
Inventories	(13.6)	(30.8)
Prepaid expenses and other assets	7.3	1.4
Accounts payable	41.4	69.2
Accrued expenses and deferred revenues	57.4	(13.3)
Long-term liabilities	2.6	9
Other operating activities	(0.4)	1.4
Net cash provided by operating activities	148.8	70.4
Investing activities
Capital expenditures	(33.8)	(63.9)
Acquisitions, net of cash	(577.8)
Proceeds from sale of property and equipment	0.1	3.7
Proceeds from sale of business		9.7
Net cash used in investing activities	(611.5)	(50.5)
Financing activities
Net change in short-term borrowings and revolving credit lines	(1.4)
Repayments of long-term debt	(1.5)
Dividends	(33.1)	(28.8)
Proceeds from issuance of treasury shares and stock options	31.3	11.6
Repurchases of common stock	(32.8)
Net cash used in financing activities	(37.5)	(17.2)
Effect of foreign currency exchange rate changes on cash and cash equivalents	(1.4)	(0.2)
Change in cash and cash equivalents	(501.6)	2.5
Cash and cash equivalents
Beginning of period	730.8	754.5
End of period	$ 229.2	$ 757

Consolidated Statement of Share

Consolidated Statement of Shareholders' Equity - USD ($) $ in Millions		Common Stock	Additional Paid-In Capital	Deferred Compensation Equity	Accumulated Other Comprehensive Income	Retained Earnings	Shares in Treasury	Total
Balance at Dec. 31, 2012		$ 78.7	$ 171.4	$ 0.6	$ (35.5)	$ 1,788.3	$ (215.4)	$ 1,788.1
Balance (in shares) at Dec. 31, 2012		63,127,299					15,249,714
Increase (Decrease) in Shareholders' Equity
Net income						209.7		209.7
Other comprehensive income, net of tax					4			4
Cash dividends - $0.84, $0.94, and $0.50 per share for the years ended 2013, 2014, and the six months ended June 30, 2015, respectively						(53.7)		(53.7)
Stock based compensation other	[1]		29.7	2.4			$ 5.9	38
Stock based compensation other (in shares)	[1]	531,478					(488,233)
Balance at Dec. 31, 2013		$ 78.7	201.1	3	(31.5)	1,944.3	$ (209.5)	1,986.1
Balance (in shares) at Dec. 31, 2013		63,658,777					14,761,481
Increase (Decrease) in Shareholders' Equity
Net income						251.3		251.3
Other comprehensive income, net of tax					(30.3)			(30.3)
Cash dividends - $0.84, $0.94, and $0.50 per share for the years ended 2013, 2014, and the six months ended June 30, 2015, respectively						(61.2)		(61.2)
Stock based compensation other	[1]		46.7	3			$ 9.4	59.1
Stock based compensation other (in shares)	[1]	1,032,282					(1,038,280)
Balance at Dec. 31, 2014		$ 78.7	247.8	6	(61.8)	2,134.4	$ (200.1)	$ 2,205
Balance (in shares) at Dec. 31, 2014		64,691,059					13,723,201	64,691,059
Increase (Decrease) in Shareholders' Equity
Net income						134.3		$ 134.3
Other comprehensive income, net of tax					(7.1)			(7.1)
Cash dividends - $0.84, $0.94, and $0.50 per share for the years ended 2013, 2014, and the six months ended June 30, 2015, respectively						(33.1)		(33.1)
Common stock repurchase							$ (32.8)	(32.8)
Common stock repurchase (Shares)							339,700
Stock based compensation other	[1]		30.3	2.4			$ 6.7	39.4
Stock based compensation other (in shares)	[1]	351,504					(671,338)
Balance at Jun. 30, 2015		$ 78.7	$ 278.1	$ 8.4	$ (68.9)	$ 2,235.6	$ (226.2)	$ 2,305.7
Balance (in shares) at Jun. 30, 2015		65,042,563					13,391,563	65,042,563
[1]	Stock based compensation includes stock option activity, net of tax, and restricted share activity

Consolidated Statement of Shar7

Consolidated Statement of Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statement of Shareholders' Equity
Cash dividends (in dollars per share)	$ 0.25	$ 0.22	$ 0.50	$ 0.44	$ 0.94	$ 0.84

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Basis of Presentation
Basis of Presentation	Note 1—Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared by Carlisle Companies Incorporated (the “Company” or “Carlisle”) in accordance and consistent with the accounting policies stated in the Company’s Annual Report on Form 10-K and should be read in conjunction with the consolidated financial statements therein. The unaudited condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States and, of necessity, include some amounts that are based upon management estimates and judgments. The unaudited condensed consolidated financial statements include assets, liabilities, net sales, and expenses of all majority-owned subsidiaries. Carlisle accounts for investments in minority-owned companies where it exercises significant influence, but does not have control, on the equity basis. Intercompany transactions and balances are eliminated in consolidation.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2015
New Accounting Pronouncements
New Accounting Pronouncements	Note 2—New Accounting Pronouncements New Accounting Standards Issued But Not Yet Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”). ASU 2014-09 outlines a single, comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance issued by the FASB, including industry specific guidance. ASU 2014-09 provides accounting guidance for all revenue arising from contracts with customers and affects all entities that enter into contracts with customers to provide goods and services. The guidance also provides a model for the measurement and recognition of gains and losses on the sale of certain nonfinancial assets, such as property and equipment, including real estate. ASU 2014-09 is effective for annual reporting periods, including interim reporting periods within those periods, beginning after December 15, 2017. The new standard must be adopted using either a full retrospective approach for all periods presented in the period of adoption or a modified retrospective approach. The modified retrospective approach requires that the new standard be applied to all new and existing contracts as of the date of adoption, with a cumulative catch-up adjustment recorded to the opening balance of retained earnings at the effective date for existing contracts that still require performance by the entity. Under the modified retrospective approach, amounts reported prior to the date of adoption will be presented under existing guidance. ASU 2014-09 also requires entities to disclose both quantitative and qualitative information to enable users of the financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers. We have not yet determined the impact of adopting the standard on our financial statements nor have we determined whether we will utilize the full retrospective or the modified retrospective approach. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs (“ASU 2015-03”). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. ASU 2015-03 is effective for annual reporting periods, including interim reporting periods within those periods, beginning after December 15, 2015, and early adoption is permitted. The provisions of ASU 2015-03 are not expected to have a material effect on the Company’s financial condition. In April 2015, the FASB issued ASU 2015-05, Customer’s Accounting For Fees Paid In A Cloud Computing Arrangement (“ASU 2015-05”), which provides guidance for a customer’s accounting for cloud computing costs. ASU 2015-05 is effective for annual reporting periods, including interim reporting periods within those periods, beginning after December 15, 2015. The provisions of ASU 2015-05 are not expected to have a material effect on the Company’s financial condition, results of operations, or cash flows.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Information
Segment Information	Note 3—Segment Information The Company’s operations are reported in the following segments: Carlisle Construction Materials (“CCM” or the “Construction Materials segment”) —the principal products of this segment are insulation materials, rubber (EPDM), thermoplastic polyolefin (TPO), and polyvinyl chloride (PVC) roofing membranes used predominantly on non-residential low-sloped roofs, related roofing accessories, including flashings, fasteners, sealing tapes, and coatings and waterproofing products. The markets served include new construction, re-roofing and maintenance of low-sloped roofs, water containment, HVAC sealants, and coatings and waterproofing. Carlisle Interconnect Technologies (“CIT” or the “Interconnect Technologies segment”) —the principal products of this segment are high-performance wire, cable, connectors, contacts, and cable assemblies for the transfer of power and data primarily for the aerospace, medical, defense electronics, test and measurement equipment, and select industrial markets. Carlisle Fluid Technologies (“CFT” or the “Fluid Technologies segment”) —the principal products of this segment are industrial finishing equipment and integrated system solutions for spraying, pumping, mixing, metering, and curing of a variety of coatings used in the transportation, general industrial, protective coating, wood, specialty, and auto refinishing markets. Carlisle Brake & Friction (“CBF” or the “Brake & Friction segment”) —the principal products of this segment include high-performance brakes and friction material, and clutch and transmission friction material for the construction, agriculture, mining, aerospace, and motor sports markets. Carlisle FoodService Products (“CFSP” or the “FoodService Products segment”) —the principal products of this segment include commercial and institutional foodservice permanentware, table coverings, cookware, catering equipment, fiberglass and composite material trays and dishes, industrial brooms, brushes, mops, and rotary brushes for commercial and non-commercial foodservice operators and sanitary maintenance professionals. Corporate EBIT includes other unallocated costs, primarily general corporate expenses. Corporate assets consist primarily of cash and cash equivalents, deferred taxes, corporate aircraft, and other invested assets. Financial information for continuing operations by reportable segment is included in the following summary: Three Months Ended June 30, 2015 2014 (in millions) Net Sales EBIT Net Sales EBIT Carlisle Construction Materials $ $ $ $ Carlisle Interconnect Technologies Carlisle Fluid Technologies ) — — Carlisle Brake & Friction Carlisle FoodService Products Corporate — ) — ) Total $ $ $ $ Six Months Ended June 30, 2015 2014 (in millions) Net Sales EBIT Assets Net Sales EBIT Assets Carlisle Construction Materials $ $ $ $ $ $ Carlisle Interconnect Technologies Carlisle Fluid Technologies ) — — — Carlisle Brake & Friction Carlisle FoodService Products Corporate — ) — ) Total $ $ $ $ $ $

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2015
Acquisitions
Acquisitions	Note 4 — Acquisitions 2015 Acquisition Finishing Brands On April 1, 2015, the Company acquired 100% of the Finishing Brands business from Graco Inc. (“Graco”) for net consideration of $598.4 million, consisting of cash consideration of $577.8 million, net of $12.2 million of cash acquired, and a liability of $20.6 million representing the Company’s estimate of additional consideration to be paid to Graco to settle the working capital portion of the acquisition. The Company funded the cash consideration with cash on hand. The Company expects to finalize the working capital settlement in the third quarter of 2015. Finishing Brands is a global manufacturer and supplier of finishing equipment and systems serving diverse end markets for paints and coatings, including OE automotive, automotive refinishing, aerospace, agriculture, construction, marine, rail and other industrial applications. The Company has reported the results of the acquired business as a new reporting segment named Carlisle Fluid Technologies (“CFT”). CFT contributed net sales of $61.7 million and a loss before interest and taxes of $1.0 million for the period from April 1, 2015 to June 30, 2015. The loss before interest and taxes for the second quarter of 2015 includes $8.6 million ($5.8 million net of tax) of non-recurring incremental cost of goods sold related to measuring inventory at fair value, $3.1 million ($2.1 million net of tax) of amortization expense of customer relationships, $1.3 million ($0.9 million net of tax) of amortization expense of acquired technology, and non-recurring acquisition-related costs primarily related to professional fees. The Finishing Brands amounts included in the pro forma financial information below are based on the Finishing Brands’ historical results and, therefore, may not be indicative of the actual results if operated by Carlisle. The pro forma adjustments represent management’s best estimates based on information available at the time the pro forma information was prepared and may differ from the adjustments that may actually have been required. Accordingly, pro forma information should not be relied upon as being indicative of the historical results that would have been realized had the acquisition occurred as of the date indicated or that may be achieved in the future. The unaudited combined pro forma financial information presented below includes Net sales and Income from continuing operations, net of tax, of the Company as if the business combination had occurred on January 1, 2014 based on the preliminary purchase price allocation presented below: Pro Forma Pro Forma Three Months Ended June 30, Six Months Ended June 30, (in millions) 2015 2014 2015 2014 Net sales $ $ $ $ Income from continuing operations The pro forma financial information reflects adjustments to Finishing Brands’ historical financial information to apply the Company’s accounting policies and to reflect the additional depreciation and amortization related to the preliminary fair value adjustments of the acquired net assets, together with the associated tax effects. Also, the pro forma financial information reflects the non-recurring costs of goods sold related to the fair valuation of inventory and acquisition-related costs described above as if they occurred in the first quarter of 2014. The following table summarizes the consideration transferred to acquire Finishing Brands and the preliminary allocation among the assets acquired and liabilities assumed. The acquisition has been accounted for using the acquisition method of accounting in accordance with ASC 805, Business Combinations, which requires that consideration be allocated to the acquired assets and liabilities based upon their acquisition date fair values with the remainder allocated to goodwill. Preliminary Allocation As of (in millions) 4/1/2015 Total cash consideration transferred and payable $ Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and cash equivalents $ Receivables Inventories Prepaid expenses and other current assets Property, plant, and equipment Definite-lived intangible assets Indefinite-lived intangible assets Deferred income tax assets Other non-current assets Line of credit ) Accounts payable ) Income tax payable ) Accrued expenses ) Deferred income tax liabilities ) Other non-current liabilities ) Total identifiable net assets Goodwill $ The goodwill recognized in the acquisition of Finishing Brands is attributable to the experienced workforce of Finishing Brands, the expected operational improvements through implementation of the Carlisle Operating System, opportunities for geographic and product line expansions in addition to supply chain efficiencies and other administrative opportunities, and the significant strategic value of the business to Carlisle. The Company acquired $61.2 million of gross contractual accounts receivable, of which $1.5 million is not expected to be collected. Goodwill of $131.4 million is tax deductible, primarily in the United States. All of the goodwill was assigned to the Fluid Technologies reporting unit which aligns with the reportable segment. Indefinite-lived intangible assets of $125.0 million represent acquired trade names. The $216.0 million value allocated to definite-lived intangible assets consists of $186.0 million of customer relationships with a useful life of 15 years and various acquired technologies of $30.0 million with useful lives ranging from five to eight years. The Company recorded an indemnification asset of $3.0 million in Other long-term assets relating to the indemnification of Carlisle for a pre-acquisition tax liability in accordance with the purchase agreement. The Company has also recorded deferred tax liabilities related to intangible assets of approximately $27.4 million. As additional information is obtained, adjustments may be made to the preliminary purchase price allocation. The Company is still finalizing the fair value of certain real property assets, accrued expenses, and tax liabilities. 2014 Acquisition LHi Technology On October 1, 2014, the Company acquired 100% of the equity of LHi Technology (“LHi”) for total cash consideration of $194.0 million, net of $6.7 million cash acquired, inclusive of the working capital settlement. The Company funded the acquisition with cash on hand. LHi is a leading designer, manufacturer and provider of cable assemblies and related interconnect components to the medical equipment and device industry. The acquisition will strengthen Carlisle’s launch of its medical cable and cable assembly product line by adding new products, new customers and complementary technologies to better serve the global healthcare market. LHi operates within the Interconnect Technologies segment. The following table summarizes the consideration transferred to acquire LHi and the preliminary allocation among the assets acquired and liabilities assumed. The acquisition has been accounted for using the acquisition method of accounting which requires that consideration be allocated to the acquired assets and liabilities based upon their acquisition date fair values with the remainder allocated to goodwill. Preliminary Allocation Measurement Period Adjustments Preliminary Allocation As of Six Months Ended As of (in millions) 10/1/2014 6/30/2015 6/30/2015 Total cash consideration transferred $ $ — $ Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and cash equivalents $ $ — $ Receivables — Inventories — Prepaid expenses and other current assets — Property, plant, and equipment — Definite-lived intangible assets — Indefinite-lived intangible assets — Other non-current assets — Accounts payable ) — ) Income tax payable ) — ) Accrued expenses ) ) ) Net deferred tax liabilities ) — ) Other non-current liabilities ) — ) Total identifiable net assets ) Goodwill $ $ $ The goodwill recognized in the acquisition of LHi is attributable to the workforce of LHi, the solid financial performance in the medical cable market, and the significant strategic value of the business to Carlisle. Goodwill arising from the acquisition of LHi is not deductible for income tax purposes. All of the goodwill was assigned to the Interconnect Technologies reporting unit. Indefinite-lived intangible assets of $6.0 million represent acquired trade names. The $74.5 million value allocated to definite-lived intangible assets consists of $57.0 million of customer relationships with a useful life of 15 years, $16.0 million of acquired technology with a useful life of six years, and a $1.5 million non-compete agreement with a useful life of five years. The Company recorded an indemnification asset of $8.7 million in Other long-term assets relating to the indemnification of Carlisle for certain pre-acquisition liabilities, in accordance with the purchase agreement. The Company has also recorded deferred tax liabilities related to intangible assets as of the closing date. The Company recorded an increase to accrued expenses of $0.3 million and a corresponding increase to goodwill of $0.3 million as a measurement period adjustment relating to a customer claim on products produced and sold by LHi prior to the Company’s acquisition. As additional information is obtained, adjustments may be made to the preliminary purchase price allocation. The Company is still finalizing the fair value of certain accrued expenses.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2015
Stock-Based Compensation
Stock-Based Compensation	Note 5—Stock-Based Compensation Stock-based compensation cost is recognized over the requisite service period, which generally equals the stated vesting period, unless the stated vesting period exceeds the date upon which an employee reaches retirement eligibility. Pre-tax stock-based compensation expense in continuing operations was $3.3 million and $3.0 million for the three month periods ended June 30, 2015 and 2014, respectively, and $10.5 million and $10.7 million for the six months ended June 30, 2015 and 2014, respectively. Incentive Compensation Program The Company maintains an Incentive Compensation Program (the “Program”) for executives, certain other employees of the Company and its operating segments and subsidiaries, and the Company’s non-employee directors. The Program was approved by shareholders on May 6, 2015. The Program allows for awards to eligible employees of stock options, restricted stock, stock appreciation rights, performance shares and units or other awards based on Company common stock. At June 30, 2015, 4,201,379 shares were available for grant under this plan, of which 1,588,163 shares were available for the issuance of stock awards. Nonemployee Director Equity Plan The Company also maintains the Nonemployee Director Equity Plan (the “Plan”) for members of its Board of Directors, with the same terms and conditions as the Program. At June 30, 2015, 245,094 stock options and 15,094 restricted shares were available for grant under this plan. Members of the Board of Directors that receive stock-based compensation are treated as employees for accounting purposes. Grants For the six months ended June 30, 2015, the Company awarded 316,345 stock options, 58,040 restricted stock awards, 58,040 performance share awards and 11,471 restricted stock units with an aggregate grant-date fair value of $19.6 million to be expensed over the requisite service period for each award. Stock Option Awards Options issued under these plans generally vest one-third on the first anniversary of grant, one-third on the second anniversary of grant and the remaining one-third on the third anniversary of grant. All options have a maximum term life of 10 years. Shares issued to cover options under the Program and the Plan may be issued from shares held in treasury, from new issuances of shares, or a combination of the two. Pre-tax share-based compensation expense related to stock options was $1.2 million and $1.1 million for the three month periods ended June 30, 2015 and 2014, respectively, and $2.5 million and $2.2 million for the six months ended June 30, 2015 and 2014, respectively. The Company utilizes the Black-Scholes-Merton (“BSM”) option pricing model to determine the fair value of its stock option awards. The BSM relies on certain assumptions to estimate an option’s fair value. The weighted-average assumptions used in the determination of fair value for stock option awards in 2015 and 2014 were as follows: 2015 2014 Expected dividend yield % % Expected life in years Expected volatility % % Risk-free interest rate % % Weighted-average fair value $ $ The expected life of options is based on the assumption that all outstanding options will be exercised at the midpoint of the valuation date (if vested) or the vesting dates (if unvested) and the options’ expiration date. The expected volatility is based on historical volatility as well as implied volatility of the Company’s options. The risk-free interest rate is based on rates of U.S. Treasury issues with a remaining life equal to the expected life of the option. The expected dividend yield is based on the projected annual dividend payment per share, divided by the stock price at the date of grant. Restricted Stock Awards Restricted stock awarded under the Program is generally released to the recipient after a period of three years. The grant date fair value of the 2015 restricted stock awards, which are released to the recipient after a period of three years, is based on the closing market price of the stock on the date of grant. Performance Share Awards The performance shares awarded vest based on the employee rendering three years of service to the Company, and the attainment of a market condition over the performance period, which is based on the Company’s relative total shareholder return versus the S&P Midcap 400 Index® over a pre-determined time period as determined by the Compensation Committee of the Board of Directors. The grant date fair value of the 2015 performance shares was estimated using a Monte-Carlo simulation approach based on a three-year measurement period. Such approach entails the use of assumptions regarding the future performance of the Company’s stock and those of the S&P Midcap 400 Index®. Those assumptions include expected volatility, risk-free interest rates, correlation coefficients and dividend reinvestment. Dividends accrue on the performance shares during the performance period and are to be paid in cash based upon the number of awards ultimately earned. The Company expenses the compensation cost associated with the performance awards on a straight-line basis over the vesting period of three years. Restricted Stock Units The restricted stock units awarded to eligible directors are fully vested and will be paid in shares of Company common stock after the director ceases to serve as a member of the Board, or if earlier, upon a change in control of the Company. The $90.54 grant date fair value of the 2015 restricted stock units is based on the closing market price of the stock on February 4, 2015, the date of the grant. Deferred Compensation - Equity Certain employees are eligible to participate in the Company’s Non-qualified Deferred Compensation Plan (the “Deferred Compensation Plan”). Participants may elect to defer all or part of their stock-based compensation. Participants have elected to defer 237,261 shares of Company common stock as of June 30, 2015 and 228,047 shares as of December 31, 2014.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2015
Income Taxes
Income Taxes	Note 6 — Income Taxes The effective income tax rate on continuing operations for the six months ended June 30, 2015 was 32.0%. The year-to-date provision for income taxes includes taxes on earnings at an anticipated rate of approximately 33% and year-to-date discrete tax benefits of $1.2 million. As of December 31, 2014 the Company had a deferred tax asset for state net operating loss (“NOL”) carryforwards and credits of $12.3 million (expiring 2015 — 2034). As of December 31, 2014, the Company believed that it was likely that certain of the state tax attributes would expire unused and therefore maintained a valuation allowance of $8.8 million against the deferred tax assets for these state tax attributes. As of each reporting date, the Company considers new evidence, both positive and negative, that could impact the future realization of deferred tax assets. The acquisition of the Finishing Brands business on April 1, 2015, had a significant effect on expectations of future taxable income in certain state tax jurisdictions. After evaluating the change in facts, the Company has concluded that certain tax attributes will now more likely than not be used prior to expiration. As such, a discrete tax benefit of $2.0 million was recorded in the second quarter of 2015 to reduce the Company’s valuation allowance on its deferred tax asset for state NOL carryforwards and credits. The effective tax rate on continuing operations for the six months ended June 30, 2014 was 33.7% and included a year to date discrete tax expense of $1.1 million.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2015
Earnings Per Share
Earnings Per Share	Note 7—Earnings Per Share The Company’s restricted shares and restricted stock units contain nonforfeitable rights to dividends and, therefore, are considered participating securities for purposes of computing earnings per share pursuant to the two-class method. The computation below of earnings per share excludes the income attributable to the unvested restricted shares and restricted stock units from the numerator and excludes the dilutive impact of those underlying shares from the denominator. Stock options are included in the calculation of diluted earnings per share utilizing the treasury stock method and performance share awards are included in the calculation of diluted earnings per share considering those that are contingently issuable. Neither is considered to be a participating security as they do not contain non-forfeitable dividend rights. The following reflects the Income from continuing operations and share data used in the basic and diluted earnings per share computations using the two-class method: Three Months Ended June 30, Six Months Ended June 30, (in millions except share and per share amounts) 2015 2014 2015 2014 Numerator: Income from continuing operations $ $ $ $ Less: dividends declared - common stock outstanding, restricted shares and restricted share units ) ) ) ) Undistributed earnings Percent allocated to common shareholders (1) % % % % Add: dividends declared - common stock Numerator for basic and diluted EPS $ $ $ $ Denominator (in thousands): Denominator for basic EPS: weighted-average common shares outstanding Effect of dilutive securities: Performance awards Stock options Denominator for diluted EPS: adjusted weighted-average common shares outstanding and assumed conversion Per share income from continuing operations: Basic $ $ $ $ Diluted $ $ $ $ (1) Basic weighted-average common shares outstanding Basic weighted-average common shares outstanding, unvested restricted shares expected to vest and restricted share units Percent allocated to common shareholders % % % % To calculate earnings per share for Income from discontinued operations and for Net income, the denominator for both basic and diluted earnings per share is the same as used in the above table. Income (loss) from discontinued operations and Net income were as follows: Three Months Ended June 30, Six Months Ended June 30, (in millions) 2015 2014 2015 2014 Income (loss) from discontinued operations attributable to common shareholders for basic and diluted earnings per share $ $ ) $ — $ ) Net income attributable to common shareholders for basic and diluted earnings per share $ $ $ $

Inventories

Inventories	6 Months Ended
	Jun. 30, 2015
Inventories
Inventories	Note 8 — Inventories The components of Inventories at June 30, 2015 and December 31, 2014 were as follows: June 30, December 31, (in millions) 2015 2014 Finished goods $ $ Work-in-process Raw materials Reserves ) ) Inventories $ $

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2015
Property, Plant, and Equipment
Property, Plant and Equipment	Note 9 — Property, Plant and Equipment The components of Property, plant and equipment at June 30, 2015 and December 31, 2014 were as follows: June 30, December 31, (in millions) 2015 2014 Land $ $ Buildings and leasehold improvements Machinery and equipment Projects in progress Accumulated depreciation ) ) Property, plant, and equipment, net $ $

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2015
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	Note 10—Goodwill and Other Intangible Assets The changes in the carrying amount of Goodwill, net for the six months ended June 30, 2015 were as follows: Construction Interconnect Fluid Brake and FoodService (in millions) Materials Technologies Technologies Friction Products Total Gross balance at January 1, 2015 $ $ $ — $ $ $ Goodwill acquired during year (1) — — — — Measurement period adjustments — — — — Currency translation ) — — — ) Net balance at June 30, 2015 $ $ $ $ $ $ (1) See Note 4 for further information on goodwill resulting from recent acquisitions. The Company’s Other intangible assets, net at June 30, 2015, were as follows: Acquired Accumulated Net Book (in millions) Cost Amortization Value Assets subject to amortization: Intellectual property $ $ ) $ Customer relationships ) Other ) Assets not subject to amortization: Trade names — Other intangible assets, net $ $ ) $ The Company’s Other intangible assets, net at December 31, 2014, were as follows: Acquired Accumulated Net Book (in millions) Cost Amortization Value Assets subject to amortization: Intellectual property $ $ ) $ Customer relationships ) Other ) Assets not subject to amortization: Trade names — Other intangible assets, net $ $ ) $ Estimated amortization expense for the remainder of 2015 and the next four years is as follows: $29.9 million remaining in 2015, $58.8 million in 2016, $58.0 million in 2017, $58.0 million in 2018, and $57.9 million in 2019. The net carrying values of the Company’s Other intangible assets by reportable segment were as follows: June 30, December 31, (in millions) 2015 2014 Carlisle Construction Materials $ $ Carlisle Interconnect Technologies Carlisle Fluid Technologies — Carlisle Brake & Friction Carlisle FoodService Products Total $ $ The CBF reporting unit’s goodwill as of June 30, 2015 and December 31, 2014 was $226.6 million. The most recent annual goodwill impairment test was performed for all reporting units as of October 1, 2014. The Company also performs Step 1 of the goodwill impairment test on an interim basis upon the occurrence of events or substantive changes in circumstances that indicate that a reporting unit’s carrying value may be less than its fair value. The Company determined through ongoing monitoring that due to various factors it was appropriate to perform Step 1 of the goodwill impairment test as of June 30, 2015. Consistent with the policy described in the 2014 10-K, the Company performed Step 1 of the goodwill impairment test using a discounted cash flow analysis to estimate the fair value of the CBF reporting unit and concluded that its fair value continues to exceed its carrying value. The Company also evaluated the indefinite-lived intangible assets, primarily trademarks and trade names with a carrying value of $53.5 million, associated with the CBF reporting unit for impairment as of June 30, 2015. The analysis did not result in an impairment of CBF’s trade names as their estimated fair value exceeded their carrying value. As noted above, the Company believes that the facts and circumstances as of June 30, 2015, indicate that no impairment exists with respect to CBF’s goodwill and other indefinite-lived intangible assets. If the estimates of recovery in CBF’s end markets do not materialize as expected and the U.S. Dollar continues to strengthen and therefore results continue to be lower than anticipated, the Company may have to perform additional interim goodwill impairment analyses in future periods which may lead to a goodwill impairment loss. Similarly, an impairment loss may result if our expectations do not materialize with respect to indefinite-lived intangibles. An impairment loss could result in non-cash impairment charges that are material to the company’s results of operation.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies
Commitments and Contingencies	Note 11—Commitments and Contingencies Leases The Company currently leases a portion of its manufacturing facilities, distribution centers, and equipment, some of which include scheduled rent increases stated in the lease agreement generally expressed as a stated percentage increase of the minimum lease payment over the lease term. The Company currently has no leases that require rent to be paid based on contingent events nor has it received any lease incentive payments. Rent expense was $12.7 million and $11.4 million for the six months ended June 30, 2015 and 2014, respectively, inclusive of rent based on scheduled rent increases and rent holidays recognized on a straight-line basis. Future minimum payments under the Company’s various non-cancelable operating leases are approximately $9.8 million for the remainder of 2015, $16.9 million in 2016, $13.2 million in 2017, $10.7 million in 2018, $8.3 million in 2019, and $12.4 million thereafter. Workers’ Compensation Claims and Related Losses The Company has accrued approximately $22.6 million and $23.5 million related to workers’ compensation claims at June 30, 2015 and December 31, 2014, respectively. At June 30, 2015, $7.0 million and $15.6 million are included in Accrued expenses and Other long-term liabilities, respectively, and at December 31, 2014, $7.8 million and $15.7 million were included in Accrued expenses and Other long-term liabilities, respectively, in the Condensed Consolidated Balance Sheet. Workers’ compensation obligations related to former employees associated with the Transportation Products business and arising prior to the sale of the Transportation Products business have been retained by the Company, and the Company is obligated to pay the related claims until they are extinguished or otherwise settled. The Company will not be held liable for any workers’ compensation claims related to the former Transportation Products business incurred after December 31, 2013. The liability related to workers’ compensation claims, both those reported to the Company and those incurred but not yet reported, is estimated based on actuarial estimates and loss development factors and the Company’s historical loss experience. The Company maintains occurrence-based insurance contracts with certain insurance carriers in accordance with its risk management practices that provides for reimbursement of workers’ compensation claims in excess of $0.5 million. The Company records a recovery receivable from the insurance carriers when such recovery is deemed probable based on the nature of the claim and history of recoveries. At June 30, 2015, the Company did not have any recovery receivables recorded for workers’ compensation claims. Litigation Over the years, the Company has been named as a defendant, along with numerous other defendants, in lawsuits in various state courts in which plaintiffs have alleged injury due to exposure to asbestos-containing brakes, which Carlisle manufactured in limited amounts between the late-1940s and the mid-1980s. In addition to compensatory awards, these lawsuits may also seek punitive damages. Generally, the Company has obtained dismissals or settlements of its asbestos-related lawsuits with no material effect on its financial condition, results of operations or cash flows. The Company maintains insurance coverage that applies to the Company’s defense costs and payments of settlements or judgments in connection with asbestos-related lawsuits. At this time, the amount of reasonably possible additional asbestos claims, if any, is not material to the Company’s financial position, results of operations or operating cash flows although these matters could result in the Company being subject to monetary damages, costs or expenses, and charges against earnings in particular periods. The Company may occasionally be involved in various other legal actions arising in the normal course of business. In the opinion of management, the ultimate outcome of such actions, either individually or in the aggregate, will not have a material adverse effect on the consolidated financial position, results of operations for a particular period or annual operating cash flows of the Company. The Company included a disclosure in the Subsequent Events footnote in its most recent Form 10-Q filed on April 23, 2015, addressing a lawsuit filed against Hunter Panels, LLC and Carlisle Construction Materials Incorporated, subsidiaries of the Company, in the United States District Court for the Western District of Pennsylvania. The lawsuit alleged violations under Title VII of the Civil Rights Act and Pennsylvania Human Relations Act. The Company settled the case during the second quarter 2015 for approximately $0.9 million payable to the plaintiff. Environmental Matters The Company is subject to increasingly stringent environmental laws and regulations, including those relating to air emissions, wastewater discharges, chemical and hazardous waste management and disposal. Some of these environmental laws hold owners or operators of land or businesses liable for their own and for previous owners’ or operators’ releases of hazardous or toxic substances or wastes. Other environmental laws and regulations require the obtainment of and compliance with environmental permits. To date, costs of complying with environmental, health, and safety requirements have not been material and we do not currently have any significant accruals related to potential future costs of environmental remediation at June 30, 2015, nor do we have an asset retirement obligation recorded at those dates. However, the nature of the Company’s operations and its long history of industrial activities at certain of its current or former facilities, as well as those acquired, could potentially result in material environmental liabilities or asset retirement modifications. While the Company must comply with existing and pending climate change legislation, regulation, international treaties or accords, current laws and regulations do not have a material impact on its business, capital expenditures or financial position. Future events, including those relating to climate change or greenhouse gas regulation, could require the Company to incur expenses related to the modification or curtailment of operations, installation of pollution control equipment, or investigation and cleanup of contaminated sites.

Borrowings

Borrowings	6 Months Ended
	Jun. 30, 2015
Borrowings
Borrowings	Note 12 — Borrowings As of June 30, 2015 and December 31, 2014 the Company’s borrowings were as follows: June 30, December 31, (in millions) 2015 2014 3.75% notes due 2022, net of unamortized discount of ($0.9) and ($0.9), respectively $ $ 5.125% notes due 2020, net of unamortized discount of ($0.6) and ($0.7), respectively 6.125% notes due 2016, net of unamortized discount of ($0.1) and ($0.2), respectively Revolving credit facility — — Industrial development and revenue bonds — Other, including capital lease obligations Total long-term debt Less current portion — — Total long-term debt, net of current portion $ $ Revolving Credit Facilities As of June 30, 2015, the Company had $600.0 million available under its Third Amended and Restated Credit Agreement (the “Amended Credit Agreement”) administered by JPMorgan Chase Bank, N.A. During the six months ended June 30, 2015 and 2014, there were no borrowings under the revolving credit facility. Uncommitted Line of Credit The Company also maintains an uncommitted line of credit of which $45.0 million was available for borrowing as of June 30, 2015 and December 31, 2014. During the six months ended June 30, 2015 and 2014, there were no borrowings under the uncommitted line of credit. Industrial Development and Revenue Bonds The industrial development and revenue bonds were collateralized by letters of credit, Company guarantees, and/or by the facilities and equipment acquired through the proceeds of the related bond issuances. The Company repaid the remaining $1.5 million of the outstanding principal on the industrial development and revenue bonds during the current quarter. Covenants and Limitations Under the Company’s various debt and credit facilities, the Company is required to meet various restrictive covenants and limitations, including limitations on certain leverage ratios, interest coverage and limits on outstanding debt balances held by certain subsidiaries. The Company was in compliance with all covenants and limitations as of June 30, 2015 and December 31, 2014. Other Matters At June 30, 2015, the fair value of the Company’s par value $350 million, 3.75% senior notes due 2022, $250 million, 5.125% senior notes due 2020, and par value $150 million, 6.125% senior notes due 2016, using Level 2 inputs in the fair value hierarchy, was approximately $348.6 million, $273.0 million and $157.6 million, respectively. Fair value is estimated based on current yield rates plus the Company’s estimated credit spread available for financings with similar terms and maturities.

Retirement Plans

Retirement Plans	6 Months Ended
	Jun. 30, 2015
Retirement Plans
Retirement Plans	Note 13—Retirement Plans Defined Benefit Plans The Company maintains defined benefit retirement plans for certain domestic employees. Benefits are based primarily on years of service and earnings of the employee. The Company recognizes the funded status of its defined benefit plans in the Condensed Consolidated Balance Sheets. The funded status is the difference between the retirement plans’ projected benefit obligation and the fair value of the retirement plans’ assets as of the measurement date. Components of net periodic benefit cost were as follows: Three Months Ended Six Months Ended June 30, June 30, (in millions) 2015 2014 2015 2014 Service cost $ $ $ $ Interest cost Expected return on plan assets ) ) ) ) Amortization of unrecognized loss Net periodic benefit cost $ $ $ $ The Company made no contributions to the pension plans during the six months ended June 30, 2015. No minimum contributions to the pension plans are required in 2015. In light of the plans’ funded status, the Company does not expect to make discretionary contributions to its pension plans in 2015. During 2015, the Company expects to pay approximately $1.0 million in participant benefits under the non-funded executive supplemental and director plans. Defined Contribution Plans The Company maintains defined contribution plans covering a significant portion of its employees. Expenses for the plans were $2.9 million and $2.8 million for the three months ended June 30, 2015 and 2014, respectively, and $6.5 million and $5.6 million for the six months ended June 30, 2015 and 2014, respectively. Employee Stock Ownership Plan The Company sponsors an employee stock ownership plan (“ESOP”) as part of one of its existing savings plans. Costs for the ESOP are included in the defined contribution plans noted above. The ESOP is available to eligible domestic employees and includes a match of contributions made by plan participants to the savings plan up to a maximum of 4.0% of a participant’s eligible compensation, divided between cash and an employee-directed election of the Company’s common stock, not to exceed 50% of the total match. Participants are not allowed to direct savings plan contributions to an investment in the Company’s common stock. Total shares held by the ESOP were 1.4 million at both June 30, 2015 and December 31, 2014.

Deferred Revenue and Extended P

Deferred Revenue and Extended Product Warranties	6 Months Ended
	Jun. 30, 2015
Deferred Revenue and Extended Product Warranties
Deferred Revenue and Extended Product Warranties	Note 14— Deferred Revenue and Extended Product Warranties Deferred revenue consists primarily of unearned revenue related to separately priced extended warranty contracts on sales of certain products, the most significant being those offered on its installed roofing systems within the Construction Materials segment. Roofing Systems Deferred Revenue The amount of revenue recognized related to extended product warranties covering roofing systems was $4.6 million and $4.3 million for the three month periods ended June 30, 2015 and 2014, respectively, and $9.1 million and $8.5 million for the six month periods ended June 30, 2015 and 2014, respectively. Deferred revenue recognized in the Condensed Consolidated Balance Sheets includes the following related to roofing systems extended product warranty contracts: June 30, December 31, (in millions) 2015 2014 Deferred revenue Current $ $ Long-term Deferred revenue liability $ $ Expected costs of services to be performed under extended product warranty contracts are actuarially determined. Any expected costs in excess of deferred revenue are recognized within Accrued expenses. Other Deferred Revenue Other deferred revenue recognized in the Condensed Consolidated Balance Sheets as of June 30, 2015 and December 31, 2014, primarily related to contracts on systems sales within the Fluid Technologies segment, was as follows: June 30, December 31, (in millions) 2015 2014 Deferred revenue Current $ $ Long-term Deferred revenue liability $ $

Standard Product Warranties

Standard Product Warranties	6 Months Ended
	Jun. 30, 2015
Standard Product Warranties
Standard Product Warranties	Note 15—Standard Product Warranties The Company offers various warranty programs on its products included in the price of its products, primarily certain installed roofing systems, high-performance cables and assemblies, fluid technologies, braking products, and foodservice equipment. The Company’s liability for such warranty programs is included in Accrued expenses. The change in the Company’s product warranty liabilities for the six months ended June 30 was as follows: (in millions) 2015 2014 Balance at January 1 $ $ Current year provision Current year claims ) ) Balance at June 30 $ $

Other Long-Term Liabilities

Other Long-Term Liabilities	6 Months Ended
	Jun. 30, 2015
Other Long-Term Liabilities
Other Long-Term Liabilities	Note 16—Other Long-Term Liabilities The components of Other long-term liabilities were as follows: June 30, December 31, (in millions) 2015 2014 Deferred taxes and other tax liabilities $ $ Pension and other post-retirement obligations Long-term workers’ compensation Deferred compensation Other Other long-term liabilities $ $

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	6 Months Ended
	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)	Note 17—Accumulated Other Comprehensive Income (Loss) The changes in Accumulated other comprehensive income (loss) by component for the three months ended June 30, 2015 were as follows: Accrued Foreign post-retirement currency Hedging (in millions) benefit liability(1) translation activities(2) Total Balance at March 31, 2015 $ ) $ ) $ $ ) Other comprehensive income before reclassifications — — Amounts reclassified from accumulated other comprehensive loss — ) Income tax expense ) — — ) Net other comprehensive income (loss) ) Balance at June 30, 2015 $ ) $ ) $ $ ) The changes in Accumulated other comprehensive income (loss) by component for the three months ended June 30, 2014 were as follows: Accrued Foreign post-retirement currency Hedging (in millions) benefit liability(1) translation activities(2) Total Balance at March 31, 2014 $ ) $ ) $ $ ) Other comprehensive loss before reclassifications ) ) — ) Amounts reclassified from accumulated other comprehensive loss — ) Income tax benefit (expense) ) — ) Net other comprehensive income (loss) — ) ) ) Balance at June 30, 2014 $ ) $ ) $ $ ) (1) Current period amounts related to accrued post-retirement benefit liability are related to amortization of unrecognized actuarial gains and losses which is included in net periodic benefit cost for pension and other post-retirement welfare plans. See Note 13. (2) Current period amounts related to hedging activities are a reduction to interest expense. See Note 18 in the Company’s 2014 Annual Report on Form 10-K for more information. The changes in Accumulated other comprehensive income (loss) by component for the six months ended June 30, 2015 were as follows: Accrued Foreign post-retirement currency Hedging (in millions) benefit liability(1) translation activities(2) Total Balance at December 31, 2014 $ ) $ ) $ $ ) Other comprehensive loss before reclassifications — ) — ) Amounts reclassified from accumulated other comprehensive loss — ) Income tax benefit (expense) ) — ) Net other comprehensive income (loss) ) ) ) Balance at June 30, 2015 $ ) $ ) $ $ ) The changes in Accumulated other comprehensive income (loss) by component for the six months ended June 30, 2014 were as follows: Accrued Foreign post-retirement currency Hedging (in millions) benefit liability(1) translation activities(2) Total Balance at December 31, 2013 $ ) $ ) $ $ ) Other comprehensive income (loss) before reclassifications ) — Amounts reclassified from accumulated other comprehensive loss — ) Income tax benefit (expense) ) — ) Net other comprehensive income (loss) ) Balance at June 30, 2014 $ ) $ ) $ $ ) (1) Current period amounts related to accrued post-retirement benefit liability are related to amortization of unrecognized actuarial gains and losses which is included in net periodic benefit cost for pension and other post-retirement welfare plans. See Note 13. (2) Current period amounts related to hedging activities are a reduction to interest expense. See Note 18 in the Company’s 2014 Annual Report on Form 10-K for more information.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Information
Summary of net sales, EBIT, and assets of continuing operations by reportable segment	Three Months Ended June 30, 2015 2014 (in millions) Net Sales EBIT Net Sales EBIT Carlisle Construction Materials $ $ $ $ Carlisle Interconnect Technologies Carlisle Fluid Technologies ) — — Carlisle Brake & Friction Carlisle FoodService Products Corporate — ) — ) Total $ $ $ $ Six Months Ended June 30, 2015 2014 (in millions) Net Sales EBIT Assets Net Sales EBIT Assets Carlisle Construction Materials $ $ $ $ $ $ Carlisle Interconnect Technologies Carlisle Fluid Technologies ) — — — Carlisle Brake & Friction Carlisle FoodService Products Corporate — ) — ) Total $ $ $ $ $ $

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2015
Acquisitions
Schedule of unaudited combined pro forma financial information	Pro Forma Pro Forma Three Months Ended June 30, Six Months Ended June 30, (in millions) 2015 2014 2015 2014 Net sales $ $ $ $ Income from continuing operations
Finishing Brands
Acquisitions
Summary of consideration transferred and the allocation of the consideration to acquired assets and assumed liabilities	Preliminary Allocation As of (in millions) 4/1/2015 Total cash consideration transferred and payable $ Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and cash equivalents $ Receivables Inventories Prepaid expenses and other current assets Property, plant, and equipment Definite-lived intangible assets Indefinite-lived intangible assets Deferred income tax assets Other non-current assets Line of credit ) Accounts payable ) Income tax payable ) Accrued expenses ) Deferred income tax liabilities ) Other non-current liabilities ) Total identifiable net assets Goodwill $
LHi Technology
Acquisitions
Summary of consideration transferred and the allocation of the consideration to acquired assets and assumed liabilities	Preliminary Allocation Measurement Period Adjustments Preliminary Allocation As of Six Months Ended As of (in millions) 10/1/2014 6/30/2015 6/30/2015 Total cash consideration transferred $ $ — $ Recognized amounts of identifiable assets acquired and liabilities assumed: Cash and cash equivalents $ $ — $ Receivables — Inventories — Prepaid expenses and other current assets — Property, plant, and equipment — Definite-lived intangible assets — Indefinite-lived intangible assets — Other non-current assets — Accounts payable ) — ) Income tax payable ) — ) Accrued expenses ) ) ) Net deferred tax liabilities ) — ) Other non-current liabilities ) — ) Total identifiable net assets ) Goodwill $ $ $

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Stock-Based Compensation
Schedule of weighted-average assumptions for stock options	2015 2014 Expected dividend yield % % Expected life in years Expected volatility % % Risk-free interest rate % % Weighted-average fair value $ $

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share
Component of income from continuing operations and share data used in basic and diluted earnings per share	Three Months Ended June 30, Six Months Ended June 30, (in millions except share and per share amounts) 2015 2014 2015 2014 Numerator: Income from continuing operations $ $ $ $ Less: dividends declared - common stock outstanding, restricted shares and restricted share units ) ) ) ) Undistributed earnings Percent allocated to common shareholders (1) % % % % Add: dividends declared - common stock Numerator for basic and diluted EPS $ $ $ $ Denominator (in thousands): Denominator for basic EPS: weighted-average common shares outstanding Effect of dilutive securities: Performance awards Stock options Denominator for diluted EPS: adjusted weighted-average common shares outstanding and assumed conversion Per share income from continuing operations: Basic $ $ $ $ Diluted $ $ $ $ (1) Basic weighted-average common shares outstanding Basic weighted-average common shares outstanding, unvested restricted shares expected to vest and restricted share units Percent allocated to common shareholders % % % %
Component of income (loss) from discontinued operations and share data used in basic and diluted earnings per share	Three Months Ended June 30, Six Months Ended June 30, (in millions) 2015 2014 2015 2014 Income (loss) from discontinued operations attributable to common shareholders for basic and diluted earnings per share $ $ ) $ — $ ) Net income attributable to common shareholders for basic and diluted earnings per share $ $ $ $

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2015
Inventories
Components of Inventories	June 30, December 31, (in millions) 2015 2014 Finished goods $ $ Work-in-process Raw materials Reserves ) ) Inventories $ $

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant, and Equipment
Components of Property, plant, and equipment	June 30, December 31, (in millions) 2015 2014 Land $ $ Buildings and leasehold improvements Machinery and equipment Projects in progress Accumulated depreciation ) ) Property, plant, and equipment, net $ $

Goodwill and Other Intangible31

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2015
Goodwill and Other Intangible Assets
Summary of changes in the carrying amount of Goodwill net	Construction Interconnect Fluid Brake and FoodService (in millions) Materials Technologies Technologies Friction Products Total Gross balance at January 1, 2015 $ $ $ — $ $ $ Goodwill acquired during year (1) — — — — Measurement period adjustments — — — — Currency translation ) — — — ) Net balance at June 30, 2015 $ $ $ $ $ $ (1) See Note 4 for further information on goodwill resulting from recent acquisitions.
Summary of other intangible assets	The Company’s Other intangible assets, net at June 30, 2015, were as follows: Acquired Accumulated Net Book (in millions) Cost Amortization Value Assets subject to amortization: Intellectual property $ $ ) $ Customer relationships ) Other ) Assets not subject to amortization: Trade names — Other intangible assets, net $ $ ) $ The Company’s Other intangible assets, net at December 31, 2014, were as follows: Acquired Accumulated Net Book (in millions) Cost Amortization Value Assets subject to amortization: Intellectual property $ $ ) $ Customer relationships ) Other ) Assets not subject to amortization: Trade names — Other intangible assets, net $ $ ) $
Summary of net carrying value of other intangible assets by reportable segment	June 30, December 31, (in millions) 2015 2014 Carlisle Construction Materials $ $ Carlisle Interconnect Technologies Carlisle Fluid Technologies — Carlisle Brake & Friction Carlisle FoodService Products Total $ $

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2015
Borrowings
Schedule of the Company's borrowings	June 30, December 31, (in millions) 2015 2014 3.75% notes due 2022, net of unamortized discount of ($0.9) and ($0.9), respectively $ $ 5.125% notes due 2020, net of unamortized discount of ($0.6) and ($0.7), respectively 6.125% notes due 2016, net of unamortized discount of ($0.1) and ($0.2), respectively Revolving credit facility — — Industrial development and revenue bonds — Other, including capital lease obligations Total long-term debt Less current portion — — Total long-term debt, net of current portion $ $

Retirement Plans (Tables)

Retirement Plans (Tables)	6 Months Ended
	Jun. 30, 2015
Retirement Plans
Components of net periodic benefit cost	Three Months Ended Six Months Ended June 30, June 30, (in millions) 2015 2014 2015 2014 Service cost $ $ $ $ Interest cost Expected return on plan assets ) ) ) ) Amortization of unrecognized loss Net periodic benefit cost $ $ $ $

Deferred Revenue and Extended34

Deferred Revenue and Extended Product Warranties (Tables)	6 Months Ended
	Jun. 30, 2015
Deferred Revenue and Extended Product Warranties
Schedule of product warranty deferred revenue liability	Deferred revenue recognized in the Condensed Consolidated Balance Sheets includes the following related to roofing systems extended product warranty contracts: June 30, December 31, (in millions) 2015 2014 Deferred revenue Current $ $ Long-term Deferred revenue liability $ $ Other deferred revenue recognized in the Condensed Consolidated Balance Sheets as of June 30, 2015 and December 31, 2014, primarily related to contracts on systems sales within the Fluid Technologies segment, was as follows: June 30, December 31, (in millions) 2015 2014 Deferred revenue Current $ $ Long-term Deferred revenue liability $ $

Standard Product Warranties (Ta

Standard Product Warranties (Tables)	6 Months Ended
	Jun. 30, 2015
Standard Product Warranties
Schedule of change in aggregate product warranty liabilities	(in millions) 2015 2014 Balance at January 1 $ $ Current year provision Current year claims ) ) Balance at June 30 $ $

Other Long-Term Liabilities (Ta

Other Long-Term Liabilities (Tables)	6 Months Ended
	Jun. 30, 2015
Other Long-Term Liabilities
Components of other long-term liabilities	June 30, December 31, (in millions) 2015 2014 Deferred taxes and other tax liabilities $ $ Pension and other post-retirement obligations Long-term workers’ compensation Deferred compensation Other Other long-term liabilities $ $

Accumulated Other Comprehensi37

Accumulated Other Comprehensive Income (Loss) (Tables)	6 Months Ended
	Jun. 30, 2015
Accumulated Other Comprehensive Income (Loss)
Schedule of changes in Accumulated other comprehensive income (loss) by component	The changes in Accumulated other comprehensive income (loss) by component for the three months ended June 30, 2015 were as follows: Accrued Foreign post-retirement currency Hedging (in millions) benefit liability(1) translation activities(2) Total Balance at March 31, 2015 $ ) $ ) $ $ ) Other comprehensive income before reclassifications — — Amounts reclassified from accumulated other comprehensive loss — ) Income tax expense ) — — ) Net other comprehensive income (loss) ) Balance at June 30, 2015 $ ) $ ) $ $ ) The changes in Accumulated other comprehensive income (loss) by component for the three months ended June 30, 2014 were as follows: Accrued Foreign post-retirement currency Hedging (in millions) benefit liability(1) translation activities(2) Total Balance at March 31, 2014 $ ) $ ) $ $ ) Other comprehensive loss before reclassifications ) ) — ) Amounts reclassified from accumulated other comprehensive loss — ) Income tax benefit (expense) ) — ) Net other comprehensive income (loss) — ) ) ) Balance at June 30, 2014 $ ) $ ) $ $ ) (1) Current period amounts related to accrued post-retirement benefit liability are related to amortization of unrecognized actuarial gains and losses which is included in net periodic benefit cost for pension and other post-retirement welfare plans. See Note 13. (2) Current period amounts related to hedging activities are a reduction to interest expense. See Note 18 in the Company’s 2014 Annual Report on Form 10-K for more information. The changes in Accumulated other comprehensive income (loss) by component for the six months ended June 30, 2015 were as follows: Accrued Foreign post-retirement currency Hedging (in millions) benefit liability(1) translation activities(2) Total Balance at December 31, 2014 $ ) $ ) $ $ ) Other comprehensive loss before reclassifications — ) — ) Amounts reclassified from accumulated other comprehensive loss — ) Income tax benefit (expense) ) — ) Net other comprehensive income (loss) ) ) ) Balance at June 30, 2015 $ ) $ ) $ $ ) The changes in Accumulated other comprehensive income (loss) by component for the six months ended June 30, 2014 were as follows: Accrued Foreign post-retirement currency Hedging (in millions) benefit liability(1) translation activities(2) Total Balance at December 31, 2013 $ ) $ ) $ $ ) Other comprehensive income (loss) before reclassifications ) — Amounts reclassified from accumulated other comprehensive loss — ) Income tax benefit (expense) ) — ) Net other comprehensive income (loss) ) Balance at June 30, 2014 $ ) $ ) $ $ ) (1) Current period amounts related to accrued post-retirement benefit liability are related to amortization of unrecognized actuarial gains and losses which is included in net periodic benefit cost for pension and other post-retirement welfare plans. See Note 13. (2) Current period amounts related to hedging activities are a reduction to interest expense. See Note 18 in the Company’s 2014 Annual Report on Form 10-K for more information.

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Net Sales, EBIT, Assets continuing operations by reportable segment
Net sales	$ 984.6	$ 859.5	$ 1,693.9	$ 1,509.9
EBIT	148	122.3	214.4	185.3
Assets	4,013.4	3,656.9	4,013.4	3,656.9
Corporate
Net Sales, EBIT, Assets continuing operations by reportable segment
EBIT	(14.5)	(12.1)	(32.9)	(27.8)
Assets	181.3	766.9	181.3	766.9
Carlisle Construction Materials
Net Sales, EBIT, Assets continuing operations by reportable segment
Net sales	577.6	535.6	948.9	883.1
EBIT	112.1	81.1	148.8	112.9
Assets	1,042.1	1,027	1,042.1	1,027
Carlisle Interconnect Technologies
Net Sales, EBIT, Assets continuing operations by reportable segment
Net sales	198.3	162.2	392.7	313.1
EBIT	36.1	34.1	70.6	64.8
Assets	1,305.5	1,042.8	1,305.5	1,042.8
Carlisle Fluid Technologies
Net Sales, EBIT, Assets continuing operations by reportable segment
Net sales	61.7		61.7
EBIT	(1)		(1)
Assets	687.4		687.4
Carlisle Brake & Friction
Net Sales, EBIT, Assets continuing operations by reportable segment
Net sales	85	97.6	171.4	189.8
EBIT	8.1	10.8	16.3	20
Assets	590.1	615.4	590.1	615.4
Carlisle FoodService Products
Net Sales, EBIT, Assets continuing operations by reportable segment
Net sales	62	64.1	119.2	123.9
EBIT	7.2	8.4	12.6	15.4
Assets	$ 207	$ 204.8	$ 207	$ 204.8

Acquisitions (Details)

Acquisitions (Details) - USD ($) $ in Millions	Apr. 01, 2015	Jun. 30, 2015
Consideration
Aggregate cash purchase price, net of cash acquired		$ 577.8
Finishing Brands
Acquisitions
Percentage of ownership interest acquired	100.00%
Consideration
Net consideration	$ 598.4
Aggregate cash purchase price, net of cash acquired	577.8
Cash acquired in business combination	12.2
Liability to settle the working capital portion of the acquisition	$ 20.6

Acquisitions (Details 2)

Acquisitions (Details 2) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Pro forma consolidated information of the Company
Net sales	$ 984.6	$ 926.5	$ 1,755.1	$ 1,644.6
Income from continuing operations	102	$ 81.8	$ 148.2	$ 117.1
Finishing Brands | Carlisle Fluid Technologies
Business acquisition pro forma information nonrecurring adjustment
Net sales	61.7
Loss before interest and taxes	(1)
Finishing Brands | Customer Relationships | Carlisle Fluid Technologies
Business acquisition pro forma information nonrecurring adjustment
Amortization expense	3.1
Amortization expense, net of tax	2.1
Finishing Brands | Technology | Carlisle Fluid Technologies
Business acquisition pro forma information nonrecurring adjustment
Amortization expense	1.3
Amortization expense, net of tax	0.9
Finishing Brands | Cost of goods sold | Carlisle Fluid Technologies
Business acquisition pro forma information nonrecurring adjustment
Loss before interest and taxes	8.6
Loss before interest, net of tax	$ 5.8

Acquisitions (Details 3)

Acquisitions (Details 3) - USD ($) $ in Millions	Apr. 01, 2015	Oct. 01, 2014	Jun. 30, 2015	Dec. 31, 2014
Cash consideration transferred:
Aggregate cash purchase price, net of cash acquired			$ 577.8
Recognized amounts of identifiable assets acquired and liabilities assumed:
Goodwill			1,139.7	$ 964.5
Finishing Brands
Acquisitions
Business Acquisition, Percentage of Voting Interests Acquired	100.00%
Cash consideration transferred:
Aggregate cash purchase price, net of cash acquired	$ 577.8
Cash acquired in business combination	12.2
Total cash consideration transferred and payable	610.6
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents	12.2
Receivables	57.3
Inventories	40.9
Prepaid expenses and other current assets	6.4
Property, plant and equipment	41
Definite-lived intangible assets	216
Indefinite-lived intangible assets	125
Deferred income tax assets	1.9
Other non-current assets	3.8
Line of credit	(1.4)
Accounts payable	(16.3)
Income tax payable	(1.9)
Accrued expenses	(15.6)
Deferred income tax liabilities	(28.8)
Other non-current liabilities	(5.6)
Total identifiable net assets	434.9
Goodwill	175.7
Business combination gross receivables	61.2
Receivables not expected to be collected	1.5
Goodwill deductible for tax purpose	131.4
Deferred tax liability related to intangible assets	27.4
Finishing Brands | Other long-term assets
Recognized amounts of identifiable assets acquired and liabilities assumed:
Business Combination, Indemnification Assets, Amount as of Acquisition Date	3
Finishing Brands | Trade names
Recognized amounts of identifiable assets acquired and liabilities assumed:
Indefinite-lived intangible assets	125
Finishing Brands | Customer Relationships
Recognized amounts of identifiable assets acquired and liabilities assumed:
Definite-lived intangible assets	$ 186
Useful life of finite lived intangible assets	15 years
Finishing Brands | Acquired Technology
Recognized amounts of identifiable assets acquired and liabilities assumed:
Definite-lived intangible assets	$ 30
Finishing Brands | Acquired Technology | Minimum
Recognized amounts of identifiable assets acquired and liabilities assumed:
Useful life of finite lived intangible assets	5 years
Finishing Brands | Acquired Technology | Maximum
Recognized amounts of identifiable assets acquired and liabilities assumed:
Useful life of finite lived intangible assets	8 years
LHi Technology
Acquisitions
Business Acquisition, Percentage of Voting Interests Acquired		100.00%
Cash consideration transferred:
Aggregate cash purchase price, net of cash acquired		$ 194
Cash acquired in business combination		6.7
Total cash consideration transferred			200.7
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents			6.7
Receivables			26.9
Inventories			17.1
Prepaid expenses and other current assets			2.9
Property, plant and equipment			4.5
Definite-lived intangible assets			74.5
Indefinite-lived intangible assets			6
Other non-current assets			8.8
Accounts payable			(16.9)
Income tax payable			(0.3)
Accrued expenses			(5.2)
Net deferred tax liabilities			(16.2)
Other non-current liabilities			(20.1)
Total identifiable net assets			88.7
Goodwill			112
LHi Technology | Other long-term assets
Recognized amounts of identifiable assets acquired and liabilities assumed:
Business Combination, Indemnification Assets, Amount as of Acquisition Date		8.7
LHi Technology | Trade names
Recognized amounts of identifiable assets acquired and liabilities assumed:
Indefinite-lived intangible assets		6
LHi Technology | Customer Relationships
Recognized amounts of identifiable assets acquired and liabilities assumed:
Definite-lived intangible assets		$ 57
Useful life of finite lived intangible assets		15 years
LHi Technology | Acquired Technology
Recognized amounts of identifiable assets acquired and liabilities assumed:
Definite-lived intangible assets		$ 16
Useful life of finite lived intangible assets		6 years
LHi Technology | Non-compete agreement
Recognized amounts of identifiable assets acquired and liabilities assumed:
Definite-lived intangible assets		$ 1.5
Useful life of finite lived intangible assets		5 years
LHi Technology | Preliminary Allocation
Cash consideration transferred:
Total cash consideration transferred		$ 200.7
Recognized amounts of identifiable assets acquired and liabilities assumed:
Cash and cash equivalents		6.7
Receivables		26.9
Inventories		17.1
Prepaid expenses and other current assets		2.9
Property, plant and equipment		4.5
Definite-lived intangible assets		74.5
Indefinite-lived intangible assets		6
Other non-current assets		8.8
Accounts payable		(16.9)
Income tax payable		(0.3)
Accrued expenses		(4.9)
Net deferred tax liabilities		(16.2)
Other non-current liabilities		(20.1)
Total identifiable net assets		89
Goodwill		$ 111.7
LHi Technology | Adjustment
Recognized amounts of identifiable assets acquired and liabilities assumed:
Accrued expenses			(0.3)
Total identifiable net assets			(0.3)
Goodwill			$ 0.3

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)shares	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)$ / sharesshares	Jun. 30, 2014USD ($)$ / shares
Stock-based compensation
Aggregate grant-date fair value of stock options, restricted stock awards, performance share awards and restricted stock units | $			$ 19.6
Stock-based compensation expense
Pre-tax compensation expense | $	$ 3.3	$ 3	$ 10.5	$ 10.7
Executive Incentive Program
Stock-based compensation
Shares available for grant under the plan	4,201,379		4,201,379
Shares available for issuance under the plan	1,588,163		1,588,163
Nonemployee Director Equity Plan
Stock-based compensation
Shares available for issuance under the plan	245,094		245,094
Stock options
Stock-based compensation
Stock options granted (in shares)			316,345
Portion of stock options vesting on the first anniversary			0.3333
Portion of stock options vesting on the second anniversary			0.3333
Portion of stock options vesting on the third anniversary			0.3333
Maximum term life			10 years
Stock-based compensation expense
Pre-tax compensation expense | $	$ 1.2	$ 1.1	$ 2.5	$ 2.2
Weighted-average assumptions used to estimate grant date fair value of stock options
Expected dividend yield (as a percent)			1.10%	1.20%
Expected life in years			5 years 8 months 16 days	5 years 8 months 27 days
Expected volatility (as a percent)			27.30%	29.30%
Risk-free interest rate (as a percent)			1.40%	1.70%
Weighted average fair value (in dollars per share) | $ / shares			$ 21.19	$ 19.15
Restricted stock awards
Stock-based compensation
Awards granted (in shares)			58,040
Restricted stock awards | Nonemployee Director Equity Plan
Stock-based compensation
Shares available for issuance under the plan	15,094		15,094
Performance share awards
Stock-based compensation
Awards granted (in shares)			58,040
Restricted Stock Units
Stock-based compensation
Awards granted (in shares)			11,471

Stock-Based Compensation (Det43

Stock-Based Compensation (Details 2) - shares	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Restricted stock awards
Stock-based compensation
Vesting period of shares awarded under the Program	3 years
Performance share awards
Stock-based compensation
Vesting period of shares awarded under the Program	3 years
Deferred Compensation Equity
Performance share awards
Number of common stock deferred (in shares)	237,261	228,047

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Reconciliation of taxes from continuing operations
Effective income tax rate on continuing operations (as a percent)		32.00%	33.70%
Anticipated effective tax rate for beginning of year to date (as a percent)		33.00%
Expense (benefit) of discrete tax expense related to foreign jurisdiction, net	$ 2	$ (1.2)	$ 1.1
Deferred tax assets (liabilities)
Deferred tax asset for state tax loss carry forwards				$ 12.3
Valuation allowance on state tax losses				$ 8.8

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Numerator:
Income from continuing operations	$ 94.8	$ 75.7	$ 134.3	$ 112.1
Less: dividends declared - common stock outstanding, unvested restricted shares and restricted share units	(16.4)	(14.6)	(33.1)	(28.8)
Undistributed earnings	$ 78.4	$ 61.1	$ 101.2	$ 83.3
Percent allocated to common shareholders	99.50%	99.50%	99.50%	99.50%
Undistributed earnings allocated to common shareholders	$ 78	$ 60.8	$ 100.7	$ 82.9
Add: dividends declared - common stock	16.3	14.1	32.5	28.2
Numerator for basic and diluted EPS	$ 94.3	$ 74.9	$ 133.2	$ 111.1
Denominator (in thousands):
Denominator for basic EPS: weighted-average common shares outstanding	65,010	64,100	64,943	63,990
Effect of dilutive securities:
Performance awards (in shares)	342	364	342	364
Stock options (in shares)	666	977	648	975
Denominator for diluted EPS: adjusted weighted-average common shares outstanding and assumed conversion	66,018	65,441	65,933	65,329
Per share income from continuing operations:
Basic (in dollars per share)	$ 1.45	$ 1.17	$ 2.05	$ 1.73
Diluted (in dollars per share)	$ 1.43	$ 1.15	$ 2.02	$ 1.70
Basic weighted-average common shares outstanding	65,010	64,100	64,943	63,990
Basic weighted-average common shares outstanding, unvested restricted shares expected to vest and restricted share units	65,344	64,444	65,276	64,333
Percent allocated to common shareholders	99.50%	99.50%	99.50%	99.50%
Loss from discontinued operations and net income
Income (loss) from discontinued operations attributable to common shareholders for basic and diluted earnings per share	$ 0.1	$ (0.5)		$ (1.1)
Net income attributable to common shareholders for basic and diluted earnings per share	$ 94.4	$ 74.4	$ 133.2	$ 110

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Inventories
Finished goods	$ 217.7	$ 188.1
Work-in-process	60	45.3
Raw materials	143.2	132.2
Reserves	(29)	(26.5)
Inventories	$ 391.9	$ 339.1

Property, Plant, and Equipment

Property, Plant, and Equipment (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Property, Plant, and Equipment
Property, plant and equipment, gross	$ 1,126.2	$ 1,061
Accumulated depreciation	(542.8)	(513.7)
Property, plant, and equipment, net	583.4	547.3
Land
Property, Plant, and Equipment
Property, plant and equipment, gross	60.5	37.1
Buildings and leasehold improvements
Property, Plant, and Equipment
Property, plant and equipment, gross	315.2	284.6
Machinery and equipment
Property, Plant, and Equipment
Property, plant and equipment, gross	721.8	690.7
Projects in progress
Property, Plant, and Equipment
Property, plant and equipment, gross	$ 28.7	$ 48.6

Goodwill and Other Intangible48

Goodwill and Other Intangible Assets (Details) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)
Changes in the carrying amount of goodwill
Goodwill gross, Balance at the beginning of the period	$ 964.5
Goodwill acquired during the period	175.7
Measurement period adjustments	0.3
Currency translation	(0.8)
Goodwill gross, Balance at the end of the period	1,139.7
Carlisle Construction Materials
Changes in the carrying amount of goodwill
Goodwill gross, Balance at the beginning of the period	123.3
Currency translation	(3.4)
Goodwill gross, Balance at the end of the period	119.9
Carlisle Interconnect Technologies
Changes in the carrying amount of goodwill
Goodwill gross, Balance at the beginning of the period	554.3
Measurement period adjustments	0.3
Goodwill gross, Balance at the end of the period	554.6
Carlisle Fluid Technologies
Changes in the carrying amount of goodwill
Goodwill acquired during the period	175.7
Currency translation	2.6
Goodwill gross, Balance at the end of the period	178.3
Carlisle Brake & Friction
Changes in the carrying amount of goodwill
Goodwill gross, Balance at the beginning of the period	226.6
Goodwill gross, Balance at the end of the period	226.6
Carlisle FoodService Products
Changes in the carrying amount of goodwill
Goodwill gross, Balance at the beginning of the period	60.3
Goodwill gross, Balance at the end of the period	$ 60.3

Goodwill and Other Intangible49

Goodwill and Other Intangible Assets (Details 2) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Other intangible assets, net
Other intangible assets, Acquired Cost	$ 1,121.5	$ 783.9
Other intangible assets, Accumulated Amortization	(197)	(172.2)
Other intangible assets, net	924.5	611.7
Estimated amortization expense
Remainder of 2015	29.9
2,016	58.8
2,017	58
2,018	58
2,019	57.9
Trade names
Assets not subject to amortization:
Acquired Cost	246.1	122.1
Net Book Value	246.1	122.1
Intellectual Property
Other intangible assets
Acquired Cost	174.7	146.6
Accumulated Amortization	(44.2)	(37.8)
Net Book Value	130.5	108.8
Customer Relationships
Other intangible assets
Acquired Cost	680	494.6
Accumulated Amortization	(139.9)	(122.3)
Net Book Value	540.1	372.3
Other
Other intangible assets
Acquired Cost	20.7	20.6
Accumulated Amortization	(12.9)	(12.1)
Net Book Value	$ 7.8	$ 8.5

Goodwill and Other Intangible50

Goodwill and Other Intangible Assets (Details 3) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Net book value of other intangible assets by the reportable segment
Other intangible assets, net	$ 924.5	$ 611.7
Goodwill	1,139.7	964.5
Goodwill and Intangible Asset Impairment	0
Carlisle Construction Materials
Net book value of other intangible assets by the reportable segment
Other intangible assets, net	64.8	72.3
Carlisle Interconnect Technologies
Net book value of other intangible assets by the reportable segment
Other intangible assets, net	372.2	386.6
Carlisle Fluid Technologies
Net book value of other intangible assets by the reportable segment
Other intangible assets, net	338.9
Carlisle Brake & Friction
Net book value of other intangible assets by the reportable segment
Other intangible assets, net	120.4	123.5
Goodwill	226.6	226.6
Indefinite-lived intangible assets	53.5
Carlisle FoodService Products
Net book value of other intangible assets by the reportable segment
Other intangible assets, net	$ 28.2	$ 29.3

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)item	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Commitments and Contingencies
Number of leases that require rent to be paid based on contingent events | item	0
Rent expense	$ 12.7	$ 11.4
Future minimum payments
Remainder of 2015	9.8
2,016	16.9
2,017	13.2
2,018	10.7
2,019	8.3
Thereafter	12.4
Workers' Compensation Claims and Related Losses
Accrued workers compensation claims	22.6		$ 23.5
Workers' compensation included in accrued expenses	7		7.8
Workers' compensation included in other long-term liabilities	15.6		$ 15.7
Limits in excess of occurrence for reimbursement of workers' compensation	0.5
Litigation
Litigation settlement amount	0.9
Asbestos-related injury
Litigation
Accounting effect of dismissals or settlements	$ 0

Borrowings (Details)

Borrowings (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2015	Dec. 31, 2014	Jun. 30, 2014
Borrowings
Total long-term debt	$ 748.5	$ 749.8
Total long-term debt, net of current portion	748.5	749.8
3.75% senior notes due 2022
Borrowings
Total long-term debt	$ 349.1	349.1
Interest rate (as a percent)	3.75%
Unamortized discount	$ (0.9)	(0.9)
Par value of senior notes	350
3.75% senior notes due 2022 | Significant Observable Inputs (Level 2)
Borrowings
Fair value of notes	348.6
5.125% senior notes due 2020
Borrowings
Total long-term debt	$ 249.4	249.3
Interest rate (as a percent)	5.125%
Unamortized discount	$ (0.6)	(0.7)
Par value of senior notes	250
5.125% senior notes due 2020 | Significant Observable Inputs (Level 2)
Borrowings
Fair value of notes	273
6.125% senior notes due 2016
Borrowings
Total long-term debt	$ 149.9	149.8
Interest rate (as a percent)	6.125%
Unamortized discount	$ (0.1)	(0.2)
Par value of senior notes	150
6.125% senior notes due 2016 | Significant Observable Inputs (Level 2)
Borrowings
Fair value of notes	157.6
Revolving credit facility
Borrowings
Remaining borrowing capacity	600
Amount outstanding	0		$ 0
Industrial development and revenue bonds
Borrowings
Total long-term debt		1.5
Repayment of debt	1.5
Other, including capital lease obligations
Borrowings
Total long-term debt	0.1	0.1
Uncommitted line of credit
Borrowings
Maximum borrowing capacity	45	$ 45
Amount outstanding	$ 0		$ 0

Retirement Plans (Details)

Retirement Plans (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2015	Dec. 31, 2014
Defined Contribution Plans
Defined contribution plan expense recognized	$ 2.9	$ 2.8	$ 6.5	$ 5.6
Maximum percentage of employee compensation match by employer to employee stock ownership plan			4.00%
Maximum percentage of employee compensation match by employer to non union employee stock ownership plan			50.00%
Shares held by the ESOP plan	1.4		1.4			1.4
Defined Benefit Plans
Components of net periodic benefit cost
Service cost	$ 0.9	0.9	$ 1.9	1.8
Interest cost	1.8	2	3.5	3.9
Expected return on plan assets	(2.6)	(2.7)	(5.2)	(5.4)
Amortization of unrecognized loss	1.3	1	2.6	2.1
Net periodic benefit cost	$ 1.4	$ 1.2	2.8	$ 2.4
Company's contribution to pension plan			$ 0
Executive supplemental and director defined benefit pension plans | Forecast
Components of net periodic benefit cost
Participant benefit payments					$ 1
Minimum | Defined Benefit Plans | Forecast
Components of net periodic benefit cost
Company's required contribution to pension plan					$ 0

Deferred Revenue and Extended54

Deferred Revenue and Extended Product Warranties (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Roofing Systems Product
Product Warranties
Net sales recognized related to extended product warranties	$ 4.6	$ 4.3	$ 9.1	$ 8.5
Deferred revenue
Current	17.6		17.6		$ 17.5
Long-term	152.7		152.7		150.7
Deferred revenue liability	170.3		170.3		168.2
Carlisle Fluid Technologies
Deferred revenue
Current	12.7		12.7		0.4
Long-term	0.2		0.2		0.4
Deferred revenue liability	$ 12.9		$ 12.9		$ 0.8

Standard Product Warranties (De

Standard Product Warranties (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Change in aggregate product warranty liabilities
Beginning reserve	$ 15.2	$ 14.3
Current year provision	11.9	8.9
Current year claims	(9.8)	(9.2)
Ending reserve	$ 17.3	$ 14

Other Long-Term Liabilities (De

Other Long-Term Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2015	Dec. 31, 2014
Other Long-Term Liabilities
Deferred taxes and other tax liabilities	$ 225.6	$ 195.4
Pension and other post-retirement obligations	27.3	24.8
Long-term workers' compensation	15.6	15.7
Deferred compensation	16.5	14
Other	11.1	10.7
Other long-term liabilities	$ 296.1	$ 260.6

Accumulated Other Comprehensi57

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Accumulated balances for each classification of comprehensive income (loss)
Balance at the beginning of the period	$ (81.8)	$ (28)	$ (61.8)	$ (31.5)	$ (31.5)
Other comprehensive income (loss) before reclassifications	12.2	(1.9)	(8.5)	1.1
Amounts reclassified from accumulated other comprehensive loss	1.2	0.8	2.3	1.7
Income tax benefit (expense)	(0.5)	(0.3)	(0.9)	(0.7)
Other comprehensive income (loss)	12.9	(1.4)	(7.1)	2.1	(30.3)	$ 4
Balance at the end of the period	(68.9)	(29.4)	(68.9)	(29.4)	(61.8)	(31.5)
Accrued post-retirement benefit liability
Accumulated balances for each classification of comprehensive income (loss)
Balance at the beginning of the period	(31.2)	(27.6)	(32)	(28.2)	(28.2)
Other comprehensive income (loss) before reclassifications		(0.6)		(0.6)
Amounts reclassified from accumulated other comprehensive loss	1.3	1	2.6	2
Income tax benefit (expense)	(0.5)	(0.4)	(1)	(0.8)
Other comprehensive income (loss)	0.8		1.6	0.6
Balance at the end of the period	(30.4)	(27.6)	(30.4)	(27.6)	(32)	(28.2)
Foreign currency translation
Accumulated balances for each classification of comprehensive income (loss)
Balance at the beginning of the period	(51.1)	(1.3)	(30.4)	(4.3)	(4.3)
Other comprehensive income (loss) before reclassifications	12.2	(1.3)	(8.5)	1.7
Other comprehensive income (loss)	12.2	(1.3)	(8.5)	1.7
Balance at the end of the period	(38.9)	(2.6)	(38.9)	(2.6)	(30.4)	(4.3)
Hedging activities
Accumulated balances for each classification of comprehensive income (loss)
Balance at the beginning of the period	0.5	0.9	0.6	1	1
Amounts reclassified from accumulated other comprehensive loss	(0.1)	(0.2)	(0.3)	(0.3)
Income tax benefit (expense)		0.1	0.1	0.1
Other comprehensive income (loss)	(0.1)	(0.1)	(0.2)	(0.2)
Balance at the end of the period	$ 0.4	$ 0.8	$ 0.4	$ 0.8	$ 0.6	$ 1