Watts Water (WTS) 10-Q 6 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 29, 2015	4-May-15
Entity Registrant Name	WATTS WATER TECHNOLOGIES INC
Entity Central Index Key	795403
Document Type	10-Q
Document Period End Date	29-Mar-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Class A
Entity Common Stock, Shares Outstanding		28,389,517
Class B
Entity Common Stock, Shares Outstanding		6,479,290

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Mar. 29, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
CURRENT ASSETS:
Cash and cash equivalents	$261.80	$301.10
Trade accounts receivable, less allowance for doubtful accounts of $10.3 million at March 29, 2015 and $10.6 million at December 31, 2014	220.5	207.8
Inventories, net:
Raw materials	101.3	104.8
Work in process	15.9	16.7
Finished goods	165.5	170.1
Total Inventories	282.7	291.6
Prepaid expenses and other assets	25.9	27.4
Deferred income taxes	45.6	45.3
Asset held for sale	2.1	1.1
Total Current Assets	838.6	874.3
PROPERTY, PLANT AND EQUIPMENT:
Property, plant and equipment, at cost	503.2	526.7
Accumulated depreciation	-313.7	-323.4
Property, plant and equipment, net	189.5	203.3
OTHER ASSETS:
Goodwill	612	639
Intangible assets, net	199.4	210.1
Deferred income taxes	4.5	4.7
Other, net	15.9	16.6
TOTAL ASSETS	1,859.90	1,948
CURRENT LIABILITIES:
Accounts payable	113	120.8
Accrued expenses and other liabilities	133.8	138.8
Accrued pension plan settlements	40.4	40
Accrued compensation and benefits	39.7	44.2
Current portion of long-term debt	1.7	1.9
Total Current Liabilities	328.6	345.7
LONG-TERM DEBT, NET OF CURRENT PORTION	577.2	577.8
DEFERRED INCOME TAXES	73.2	77.4
OTHER NONCURRENT LIABILITIES	33.5	34.7
STOCKHOLDERS' EQUITY:
Preferred Stock, $0.10 par value; 5,000,000 shares authorized; no shares issued or outstanding
Additional paid-in capital	501	497.4
Retained earnings	497	500.6
Accumulated other comprehensive loss	-154	-89.1
Total Stockholders' Equity	847.4	912.4
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	1,859.90	1,948
Class A
STOCKHOLDERS' EQUITY:
Common Stock	2.8	2.9
Class B
STOCKHOLDERS' EQUITY:
Common Stock	$0.60	$0.60

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Mar. 29, 2015	Dec. 31, 2014
In Millions, except Share data, unless otherwise specified
Trade accounts receivable, allowance for doubtful accounts (in dollars)	$10.30	$10.60
Preferred Stock, par value (in dollars per share)	$0.10	$0.10
Preferred Stock, shares authorized	5,000,000	5,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Class A
Common Stock, par value (in dollars per share)	$0.10	$0.10
Common Stock, shares authorized	80,000,000	80,000,000
Common Stock, votes per share (Number of votes)	1	1
Common Stock, issued shares	28,411,252	28,552,065
Common Stock, outstanding shares	28,411,252	28,552,065
Class B
Common Stock, par value (in dollars per share)	$0.10	$0.10
Common Stock, shares authorized	25,000,000	25,000,000
Common Stock, votes per share (Number of votes)	10	10
Common Stock, issued shares	6,479,290	6,479,290
Common Stock, outstanding shares	6,479,290	6,479,290

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 29, 2015	Mar. 30, 2014
CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$356.20	$365.20
Cost of goods sold	225.7	231.9
GROSS PROFIT	130.5	133.3
Selling, general and administrative expenses	105.7	103.3
Restructuring and other charges, net	2	4.2
OPERATING INCOME	22.8	25.8
Other (income) expense:
Interest income	-0.2	-0.1
Interest expense	5.9	4.9
Other (income) expense, net	-0.2	0.4
Total other expense	5.5	5.2
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	17.3	20.6
Provision for income taxes	5.7	6.5
NET INCOME	$11.60	$14.10
Net income per share:
NET INCOME (in dollars per share)	$0.33	$0.40
Weighted average number of shares (in shares)	35.1	35.4
Net income per share:
NET INCOME (in dollars per share)	$0.33	$0.40
Weighted average number of shares (in shares)	35.2	35.5
Dividends per share (in dollars per share)	$0.15	$0.13

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 29, 2015	Mar. 30, 2014
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Net income	$11.60	$14.10
Other comprehensive income (loss):
Foreign currency translation adjustments	-65.1	-4.3
Defined benefit pension plans, net of tax:
Amortization of net losses included in net periodic pension cost	0.2	0.2
Other comprehensive loss, net of tax	-64.9	-4.1
Comprehensive (loss) income	($53.30)	$10

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 29, 2015	Mar. 30, 2014
OPERATING ACTIVITIES
Net income from continuing operations	$11.60	$14.10
Adjustments to reconcile net income from continuing operations to net cash provided by (used in) continuing operating activities:
Depreciation	7.9	8.2
Amortization of intangibles	5.1	3.7
Loss on disposal and impairment of goodwill, property, plant and equipment and other	1.1	0.1
Stock-based compensation	2.3	1.7
Deferred income tax benefit	-1.8	-0.4
Changes in operating assets and liabilities, net of effects from business acquisitions and divestures:
Accounts receivable	-21.6	-11.8
Inventories	-0.4	-15.3
Prepaid expenses and other assets	0.4	-1.3
Accounts payable, accrued expenses and other liabilities	-3.8	-17.7
Net cash provided by (used in) continuing operations	0.8	-18.7
INVESTING ACTIVITIES
Additions to property, plant and equipment	-5.6	-5
Proceeds from the sale of property, plant and equipment		0.1
Net cash used in investing activities	-5.6	-4.9
FINANCING ACTIVITIES
Payments of long-term debt	-0.3	-0.4
Payment of capital leases and other	-0.8	-2.5
Proceeds from share transactions under employee stock plans	0.5	0.4
Tax benefit of stock awards exercised	0.1	0.5
Payments to repurchase common stock	-9.4	-9.4
Debt issue costs		-2
Dividends	-5.3	-4.6
Net cash used in financing activities	-15.2	-18
Effect of exchange rate changes on cash and cash equivalents	-19.3	-1.3
DECREASE IN CASH AND CASH EQUIVALENTS	-39.3	-42.9
Cash and cash equivalents at beginning of year	301.1	267.9
CASH AND CASH EQUIVALENTS AT END OF PERIOD	261.8	225
NON-CASH INVESTING AND FINANCING ACTIVITIES
Issuance of stock under management stock purchase plan	0.3	0.2
CASH PAID FOR:
Interest	1.2	0.3
Income taxes	$5.80	$8

Basis_of_Presentation

Basis of Presentation	3 Months Ended
	Mar. 29, 2015
Basis of Presentation
Basis of Presentation
	1.Basis of Presentation
	The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X.  Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements.  In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included in the Watts Water Technologies, Inc. (the Company) Consolidated Balance Sheet as of March 29, 2015, the Consolidated Statements of Operations for the first quarters ended March 29, 2015 and March 30, 2014, the Consolidated Statements of Comprehensive Income (Loss) for the first quarters ended March 29, 2015 and March 30, 2014, and the Consolidated Statements of Cash Flows for the first quarters ended March 29, 2015 and March 30, 2014.
	The consolidated balance sheet at December 31, 2014 has been derived from the audited consolidated financial statements at that date. The accounting policies followed by the Company are described in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.  The financial statements included in this report should be read in conjunction with the consolidated financial statements and notes included in the Annual Report on Form 10-K for the year ended December 31, 2014. Operating results for the interim periods presented are not necessarily indicative of the results to be expected for the year ending December 31, 2015.
	The Company operates on a 52-week fiscal year ending on December 31st.  Any quarterly data contained in this Quarterly Report on Form 10-Q generally reflect the results of operations for a 13-week period.

Accounting_Policies

Accounting Policies	3 Months Ended
	Mar. 29, 2015
Accounting Policies
Accounting Policies
	2.Accounting Policies
	Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
	Goodwill and Long-Lived Assets
	The changes in the carrying amount of goodwill by geographic segment are as follows:
		March 29, 2015
		Gross Balance											Accumulated Impairment Losses								Net Goodwill
		Balance			Acquired			Foreign			Balance		Balance			Impairment		Balance			March 29,
		January 1,			During			Currency			March 29,		January 1,			Loss		March 29,			2015
		2015			the			Translation			2015		2015			During the		2015
					Period			and Other								Period
		(in millions )
	Americas	$	398		$	—		$	(0.7	)	$	397.3	$	(24.5	)	$	—	$	(24.5	)	$	372.8
	Europe, Middle East and Africa (EMEA)	265.5			—			(26.3		)	239.2		—			—		—			239.2
	Asia-Pacific	12.9			—			—			12.9		(12.9		)	—		(12.9		)	—
	Total	$	676.4		$	—		$	(27.0	)	$	649.4	$	(37.4	)	$	—	$	(37.4	)	$	612
		March 30, 2014
		Gross Balance											Accumulated Impairment Losses								Net Goodwill
		Balance			Acquired			Foreign			Balance		Balance			Impairment		Balance			March 30,
		January 1,			During the			Currency			March 30,		January 1,			Loss During		March 30,			2014
		2014			Period			Translation			2014		2014			the Period		2014
								and Other
		(in millions)
	Americas	$	224.7		$	—		$	(0.4	)	$	224.3	$	(24.5	)	$	—	$	(24.5	)	$	199.8
	EMEA	301.3			—			(0.1		)	301.2		—			—		—			301.2
	Asia-Pacific	13.3			—			(0.4		)	12.9		—			—		—			12.9
	Total	$	539.3		$	—		$	(0.9	)	$	538.4	$	(24.5	)	$	—	$	(24.5	)	$	513.9
	Goodwill and indefinite-lived intangible assets are tested for impairment at least annually or more frequently if events or circumstances indicate that it is “more likely than not” that they might be impaired, such as from a change in business conditions. The Company performs its annual goodwill and indefinite-lived intangible assets impairment assessment in the fourth quarter of each year.
	On December 1, 2014, the Company completed the acquisition of AERCO International, Inc. (“AERCO”), in a share purchase transaction.  The aggregate purchase price, including an estimated working capital adjustment, was approximately $272.2 million and as of March 29, 2015 was subject to a final post-closing working capital adjustment. The Company accounted for the transaction as a business combination.  The Company completed a preliminary purchase price allocation that resulted in the recognition of $174.3 million in goodwill and $102.4 million in intangible assets.
	As of the end of the fourth quarter of 2014, management determined that it was “more likely than not” that a significant portion of the Asia-Pacific reporting unit’s third party and intersegment net sales were expected to decline as a result of the initial phase of the Americas and Asia-Pacific transformation and restructuring program. Based on this factor, the Company performed a quantitative impairment analysis for the Asia-Pacific reporting unit. The Company completed a fair value assessment of the net assets of the reporting unit and recorded an impairment of $12.9 million in the fourth quarter of 2014.  The Company estimated the fair value of the reporting unit using the present value of expected future cash flows that reflect the impact of certain product line rationalization efforts associated with the initial phase of the Americas and Asia-Pacific transformation and restructuring program, including the sale of certain assets.  In the second step of the impairment test, the carrying value of the goodwill exceeded the implied fair value of goodwill, resulting in a full impairment. There was no tax benefit associated with the impairment and the $12.9 million charge eliminated all goodwill on the Asia-Pacific reporting unit.
	Intangible assets with estimable lives and other long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of intangible assets with estimable lives and other long-lived assets are measured by a comparison of the carrying amount of an asset or asset group to future net undiscounted pretax cash flows expected to be generated by the asset or asset group. If these comparisons indicate that an asset is not recoverable, the impairment loss recognized is the amount by which the carrying amount of the asset or asset group exceeds the related estimated fair value. Estimated fair value is based on either discounted future pretax operating cash flows or appraised values, depending on the nature of the asset. The Company determines the discount rate for this analysis based on the weighted average cost of capital based on the market and guideline public companies for the related business, and does not allocate interest charges to the asset or asset group being measured.  Judgment is required to estimate future operating cash flows.
	Intangible assets include the following:
		March 29, 2015									December 31, 2014
		Gross			Accumulated			Net			Gross		Accumulated			Net
		Carrying			Amortization			Carrying			Carrying		Amortization			Carrying
		Amount						Amount			Amount					Amount
		(in millions)
	Patents	$	16.1		$	(13.5	)	$	2.6		$	16.2	$	(13.3	)	$	2.9
	Customer relationships	203.5			(91.1		)	112.4			206.7		(87.5		)	119.2
	Technology	41.8			(13.8		)	28			42.1		(12.9		)	29.2
	Trade Names	20.3			(4.6		)	15.7			20.6		(4.2		)	16.4
	Other	9.5			(5.7		)	3.8			9.5		(5.7		)	3.8
	Total amortizable intangibles	291.2			(128.7		)	162.5			295.1		(123.6		)	171.5
	Indefinite-lived intangible assets	36.9			—			36.9			38.6		—			38.6
	Total	$	328.1		$	(128.7	)	$	199.4		$	333.7	$	(123.6	)	$	210.1
	The Company acquired $102.4 million in intangible assets as part of the AERCO acquisition, consisting primarily of customer and manufacturing representative relationships valued at $78.5 million, developed technology of $15.8 million and the trade name of $7.4 million.  The weighted-average remaining life of total amortizable intangible assets is 15 years and by asset category of customer relationships, developed technology and trade name are 16 years, 10 years and 20 years, respectively.
	Aggregate amortization expense for amortizable intangible assets for the first quarters of 2015 and 2014 was $5.1 million and $3.7 million, respectively.  Additionally, future amortization expense for the next five years on amortizable intangible assets is expected to be approximately $14.7 million for the remainder of 2015, $19.2 million for 2016, $18.9 million for 2017, $15.7 million for 2018 and $11.9 million for 2019. Amortization expense is recorded on a straight-line basis over the estimated useful lives of the intangible assets. The weighted-average remaining life of total amortizable intangible assets is 12.3 years. Patents, customer relationships, technology, trade names and other amortizable intangibles have weighted-average remaining lives of 4.9 years, 12.0 years, 10.2 years, 14.4 years and 33.2 years, respectively. Indefinite-lived intangible assets primarily include trademarks and trade names.
	Stock-Based Compensation
	The Company maintains one stock incentive plan, the Second Amended and Restated 2004 Stock Incentive Plan (the “2004 Stock Incentive Plan”).  Under this plan, key employees have been granted nonqualified stock options to purchase the Company’s Class A common stock. Options typically become exercisable over a four-year period at the rate of 25% per year and expire ten years after the grant date. However, most options granted in 2014 become exercisable over a three-year period at the rate of one-third per year.  Options granted under the plan may have exercise prices of not less than 100% of the fair market value of the Class A common stock on the date of grant. The Company’s current practice is to grant all options at fair market value on the grant date. The Company did not issue any stock options in the first three months of 2015 and issued 4,808 stock options during the first three months of 2014.
	The Company grants shares of restricted stock and deferred shares to key employees and stock awards to non-employee members of the Company’s Board of Directors under the 2004 Stock Incentive Plan.  Stock awards to non-employee members of the Company’s Board of Directors are fully vested upon grant.  Employees’ restricted stock awards and deferred shares typically vest over a three-year period at the rate of one-third per year, except that most restricted stock awards and deferred shares granted in 2014 vest over a two-year period at the rate of 50% per year. The restricted stock awards and deferred shares are amortized to expense on a straight-line basis over the vesting period. The Company issued 1,262 and 1,747 shares of restricted stock in the first three months of 2015 and 2014, respectively.
	Beginning in 2014, the Company also granted performance stock units to key employees under the 2004 Stock Incentive Plan.  Performance stock units vest at the end of a three-year performance period.  Upon vesting, the number of shares of the Company’s Class A common stock awarded to each performance stock unit recipient will be determined based on the Company’s performance relative to certain performance goals set at the time the performance stock units were granted.  The performance goals for the 2014 performance stock units are based on the compound annual growth rate of the Company’s revenue over the three-year performance period and the Company’s return on invested capital (“ROIC”) for the third year of the performance period.  The performance period for the 2014 performance stock units is January 1, 2014 through December 31, 2016.  The 2014 performance stock units also provide an overall minimum ROIC threshold, which the Company must exceed in order for any shares of the Company’s Class A common stock to be earned. The number of shares of Class A common stock that may be earned by a performance stock unit recipient ranges from 0% to 200% of a target number of shares designated for each recipient at the time of grant.  The performance stock units are amortized to expense over the vesting period, and based on the Company’s performance relative to the performance goals, may be adjusted.  If such goals are not met, no awards are earned and previously recognized compensation expense is reversed. The Company issued 117,619 shares of performance stock units in 2014 under the 2004 Stock Incentive Plan.  No shares of performance stock units were issued in the first three months of 2015.
	The Company has a Management Stock Purchase Plan that allows for the purchase of restricted stock units (RSUs) by key employees.  On an annual basis, key employees may elect to receive a portion of their annual incentive compensation in RSUs instead of cash.  Each RSU represents one share of Class A common stock and is purchased by the employee at 67% of the fair market value of the Company’s Class A common stock on the date of grant.  RSUs vest either annually over a three-year period from the grant date or upon the third anniversary of the grant date and receipt of the shares underlying RSUs is deferred for a minimum of three years or such greater number of years as is chosen by the employee.  An aggregate of 2,000,000 shares of Class A common stock may be issued under the Management Stock Purchase Plan. The Company granted 59,995 RSUs and 30,561 RSUs in the first three months of 2015 and 2014, respectively.
	The fair value of each RSU issued under the Management Stock Purchase Plan is estimated on the date of grant using the Black-Scholes-Merton Model based on the following weighted average assumptions:
		2015		2014
	Expected life (years)	3.0		3.0
	Expected stock price volatility	23.4	%	31.2	%
	Expected dividend yield	1.2	%	0.9	%
	Risk-free interest rate	1.1	%	0.7	%
	The above assumptions were used to determine the weighted average grant-date fair value of RSUs of $19.04 and $22.57 in 2015 and 2014, respectively.
	A more detailed description of each of these plans can be found in Note 12 of Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.
	Shipping and Handling
	The Company’s shipping and handling costs included in selling, general and administrative expenses were $14.4 million and $14.7 million for the first quarters of 2015 and 2014, respectively.
	Research and Development
Research and development costs included in selling, general and administrative expenses were $6.4 million and $6.3 million for the first quarters of 2015 and 2014, respectively.
Taxes, Other than Income Taxes
Taxes assessed by governmental authorities on sale transactions are recorded on a net basis and excluded from sales in the Company’s consolidated statements of operations.
Income Taxes
Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
New Accounting Standards
In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-03, “Interest — Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs”. Under ASU 2015- 03, debt issuance costs related to a recognized debt liability will be presented on the balance sheet as a direct deduction from the debt liability, similar to the presentation of debt discounts.  The cost of issuing debt will no longer be recorded as a separate asset, except when incurred before receipt of the funding from the associated debt liability. ASU 2015-03 is effective in the first quarter of 2016 for public companies with calendar year ends, with early adoption permitted. The ASU requires retrospective application to all prior periods presented in the financial statements. The adoption of this guidance is not expected to have a material impact on the Company’s financial statements.
In January 2015, the FASB issued ASU 2015-01, “Income Statement—Extraordinary and Unusual Items: Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items”. ASU 2015- 01 eliminates from U.S. GAAP the concept of extraordinary items as part of its initiative to reduce complexity in accounting standards. ASU 2015-01 is effective in the first quarter of 2016 for public companies with calendar year ends, with early adoption permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The ASU may be applied prospectively or retrospectively to all prior periods presented. The adoption of this guidance is not expected to have a material impact on the Company’s financial statements.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 29, 2015
Acquisitions
Acquisitions
	3.Acquisitions
	On December 1, 2014, the Company completed the acquisition of AERCO in a share purchase transaction. The aggregate purchase price was approximately $272.2 million and was financed from a borrowing under the Company’s Credit Agreement. The purchase price includes an estimated working capital adjustment of $7.7 million, and as of March 29, 2015, was subject to a final post-closing working capital adjustment.
	The Company accounted for the transaction as a business combination. The Company completed a preliminary purchase price allocation that resulted in the recognition of $174.3 million in goodwill and $102.4 million in intangible assets. Intangible assets consist primarily of customer relationships valued at $78.5 million with estimated lives of 16 years, developed technology valued at $15.8 million with estimated lives of 10 years and trade name valued at $7.4 million with a 20 year life. The goodwill is attributable to the workforce of AERCO and the strategic platform adjacency that will allow Watts to extend its product offerings as a result of the acquisition. Approximately $19.4 million of the goodwill is deductible for tax purposes. The following table summarizes the value of the assets and liabilities acquired (in millions):
	Accounts receivable	$	16.7
	Inventory	16.4
	Fixed assets	7.6
	Deferred tax assets	8
	Other assets	7.6
	Intangible assets	102.4
	Goodwill	174.3
	Accounts payable	(6.7		)
	Accrued expenses and other	(18.1		)
	Deferred tax liability	(36.0		)
	Purchase price	$	272.2
	The consolidated statement of operations for the first quarter ended March 29, 2015 includes the results of AERCO.  The results include $22.2 million of revenues and $1.2 million of operating income, respectively, which includes $0.9 million of purchase accounting charges.
	Supplemental pro-forma information
	Had the Company completed the acquisition of AERCO at the beginning of 2014, net sales, net income from continuing operations and earnings per share from continuing operations would have been as follows:
		First Quarter Ended
	Amounts in millions (except per share information)	March 29, 2015			March 30, 2014
	Net sales	$	356.2		$	383.7
	Net income from continuing operations	$	12.3		$	13.3
	Net income per share:
	Basic EPS—continuing operations	$	0.35		$	0.38
	Diluted EPS—continuing operations	$	0.35		$	0.38
	Net income from continuing operations for the quarter ended March 30, 2014 was adjusted to include $0.7 million of net interest expense related to the financing and $1.1 million of net amortization expense resulting from the estimated allocation of purchase price to amortizable tangible and intangible assets. Net income from continuing operations for the quarter ended March 29, 2015 was also adjusted to exclude $0.7 million of net acquisition-related charges and third-party costs.

Financial_Instruments_and_Deri

Financial Instruments and Derivative Instruments	3 Months Ended
	Mar. 29, 2015
Financial Instruments and Derivative Instruments
Financial Instruments and Derivative Instruments
	4.Financial Instruments and Derivative Instruments
	The Company measures certain financial assets and liabilities at fair value on a recurring basis, including deferred compensation plan assets and related liability, and contingent consideration. There were no designated cash flow hedges as of March 29, 2015 and December 31, 2014. The fair values of these certain financial assets and liabilities were determined using the following inputs at March 29, 2015 and December 31, 2014:
			Fair Value Measurements at March 29, 2015 Using:
					Quoted Prices in		Significant Other		Significant
					Active		Observable		Unobservable
					Markets for Identical		Inputs		Inputs
					Assets
			Total		(Level 1)		(Level 2)		(Level 3)
			(in millions)
	Assets
	Plan asset for deferred compensation(1)		$	3.7	$	3.7	$	—	$	—
	Total assets		$	3.7	$	3.7	$	—	$	—
	Liabilities
	Plan liability for deferred compensation(2)		$	3.7	$	3.7	$	—	$	—
	Contingent consideration(3)		2.3		—		—		2.3
	Total liabilities		$	6.0	$	3.7	$	—	$	2.3
			Fair Value Measurements at December 31, 2014 Using:
					Quoted Prices in		Significant Other		Significant
					Active		Observable		Unobservable
					Markets for Identical		Inputs		Inputs
					Assets
			Total		(Level 1)		(Level 2)		(Level 3)
			(in millions)
	Assets
	Plan asset for deferred compensation(1)		$	4.0	$	4.0	$	—	$	—
	Total assets		$	4.0	$	4.0	$	—	$	—
	Liabilities
	Plan liability for deferred compensation(2)		$	4.0	$	4.0	$	—	$	—
	Contingent consideration(3)		2.5		—		—		2.5
	Total liabilities		$	6.5	$	4.0	$	—	$	2.5
		-1		Included on the Company’s consolidated balance sheet in other assets (other, net).
		-2		Included on the Company’s consolidated balance sheet in accrued compensation and benefits.
		-3		Included on the Company’s consolidated balance sheet in accrued expenses and other liabilities as of March 29, 2015 and December 31, 2014.
	The table below provides a summary of the changes in fair value of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the period December 31, 2014 to March 29, 2015.
			Balance				Total realized and					Balance
							unrealized (gains)
							losses included in:
			December 31,		Settlements		Net earnings		Comprehensive			March 29,
			2014				adjustments		income			2015
			(in millions)
	Contingent consideration		$	2.5	$	—	$	—	$	(0.2	)	$	2.3
	In connection with the tekmar Control Systems acquisition in 2012, a contingent liability of $5.1 million was recognized as the estimate of the acquisition date fair value of the contingent consideration. This liability was classified as Level 3 under the fair value hierarchy as it was based on the probability of achievement of a future performance metric as of the date of the acquisition, which was not observable in the market. The contingent liability was increased by $0.5 million during 2014 and by $1.0 million during 2013 based on revised estimates of the fair value of the contingent consideration. Portions of the contingent consideration were paid out during the first quarter of 2014 and the second quarter of 2013, in the amount of $2.2 million and $1.2 million, respectively, based on performance metrics achieved.  The final contingent consideration payment of $2.3 million was completed in the second quarter of 2015 based on fiscal year 2014 earnings.
	Cash equivalents consist of instruments with remaining maturities of three months or less at the date of purchase and consist primarily of certificates of deposit and money market funds, for which the carrying amount is a reasonable estimate of fair value.
	The Company uses financial instruments from time to time to enhance its ability to manage risk, including foreign currency and commodity pricing exposures, which exist as part of its ongoing business operations. The use of derivatives exposes the Company to counterparty credit risk for nonperformance and to market risk related to changes in currency exchange rates and commodity prices. The Company manages its exposure to counterparty credit risk through diversification of counterparties. The Company’s counterparties in derivative transactions are substantial commercial banks with significant experience using such derivative instruments. The impact of market risk on the fair value and cash flows of the Company’s derivative instruments is monitored and the Company restricts the use of derivative financial instruments to hedging activities. The Company does not enter into contracts for trading purposes nor does the Company enter into any contracts for speculative purposes. The use of derivative instruments is approved by senior management under written guidelines.
	The Company has exposure to a number of foreign currency rates, including the Canadian dollar, the euro, the Chinese yuan and the British pound. To manage this risk, the Company generally uses a layering methodology whereby at the end of any quarter, the Company has generally entered into forward exchange contracts which hedge approximately 50% of the projected intercompany purchase transactions for the next twelve months. The Company presently does not have any open forward exchange contracts.
	Fair Value
	The carrying amounts of cash and cash equivalents, trade receivables and trade payables approximate fair value because of the short maturity of these financial instruments.
	The fair value of the Company’s 5.85% senior notes due 2016 and 5.05% senior notes due 2020 is based on quoted market prices of similar notes (level 2).  The fair value of the Company’s borrowings outstanding under the Credit Agreement and the Company’s variable rate debt approximates its carrying value. The carrying amount and the estimated fair market value of the Company’s long-term debt, including the current portion, are as follows:
			March 29,		December 31,
			2015		2014
			(in millions)
	Carrying amount		$	578.9	$	579.7
	Estimated fair value		$	597.2	$	599.3

Restructuring_and_Other_Charge

Restructuring and Other Charges, Net	3 Months Ended
	Mar. 29, 2015
Restructuring and Other Charges, Net
Restructuring and Other Charges, Net
	5.Restructuring and Other Charges, Net
	The Company’s Board of Directors approves all major restructuring programs that involve the discontinuance of significant product lines or the shutdown of significant facilities. From time to time, the Company takes additional restructuring actions, including involuntary terminations that are not part of a major program. The Company accounts for these costs in the period that the individual employees are notified or the liability is incurred. These costs are included in restructuring and other charges in the Company’s consolidated statements of operations.
	A summary of the pre-tax cost by restructuring program is as follows:
		First Quarter Ended
		March 29,			March 30,
		2015			2014
		(in millions)
	Restructuring costs:
	2015 Actions	$	1.3		$	—
	2013 Actions	0.5			0.4
	Other Actions	0.2			3.8
	Total restructuring and other charges, net	$	2.0		$	4.2
	The Company recorded pre-tax restructuring and other charges, net in its business segments as follows:
		First Quarter Ended
		March 29,			March 30,
		2015			2014
		(in millions)
	Americas	$	1.3		$	1.9
	EMEA	0.8			1.5
	Corporate	(0.1		)	0.8
	Total	$	2		$	4.2
	2015 Actions
	On February 17, 2015, the Board of Directors of the Company approved the initial phase of a restructuring program relating to the transformation of the Company’s Americas and Asia-Pacific businesses, which primarily involves product line rationalization efforts relating to low margin, non-core products. The Company expects to ultimately eliminate between $175 million to $200 million of the combined Americas and Asia-Pacific net sales primarily within the Company’s do-it-yourself (DIY) distribution channel (the “program”). Assuming that the Company would wind-down the affected product lines, the program was initially expected to include a pre-tax charge to earnings of approximately $40 million to $50 million, of which $25 million to $30 million was expected to consist of non-cash charges. Recently, the Company received interest from prospective buyers, which may allow the Company to exit these product lines at a reduced cost.  While it is still too early to determine the final method of disposition, the Company has revised the low end of the range of expected pre-tax charges to $27 million, of which $17 million consists of non-cash charges, to reflect the possibility that the product lines may be sold.  As of March 29, 2015, the assets have not been classified as ‘Held for Sale’ as not all of the required criteria had been met.
	In connection with the preparation of the financial statements, during the fourth quarter and year ended December 31, 2014, the Company recorded a $15.2 million pre-tax charge relating to the program consisting of goodwill impairment of $12.9 million, an indefinite-lived intangible asset impairment of $0.5 million, and other transformation and deployment costs of $1.8 million recorded in SG&A. The goodwill impairment charge was based on a quantitative assessment of the Asia-Pacific reporting unit goodwill performed as a result of it being more likely than not that the Asia-Pacific reporting unit’s third party and intersegment net sales would be significantly reduced as a result of the program.
	During the first quarter ended March 29, 2015, the Company recorded a $1.3 million pre-tax restructuring charge and liability relating to facility site clean-up costs at one of the affected locations in the Americas and other transformation and deployment costs in SG&A of $1.5 million.
	Additional costs expected to be incurred relating to the program include costs of severance benefits of $1.6 million to $10 million, facility decommissioning, clean-up and other related exit costs of $1.7 million to $2.7 million, accelerated depreciation and amortization of long-lived assets of $1 million to $10 million, and other transformation and deployment costs including inventory charges, consulting fees, and other associated costs of $4.7 million to $9.3 million. The total net after-tax charge for this program is expected to be $22 million to $40 million, inclusive of the Asia-Pacific charges that are expected to have no tax benefit. The remaining costs are expected to be incurred in 2015.
	2013 Actions
	On July 30, 2013, the Board of Directors authorized a restructuring program with respect to the Company’s EMEA segment to reduce its European manufacturing footprint, improve organizational and operational efficiency and better align costs with expected revenues in response to changing market conditions. Total pre-tax costs for the program were $8.4 million and were incurred from the third quarter of 2013 to the first quarter of 2015. The total charges for this program included costs for severance benefits, relocation, site clean-up, professional fees and certain asset write-downs. The total net after-tax charge for the restructuring program was approximately $5.9 million. The net after-tax charges incurred in the first quarter of 2015 and 2014 were $0.4 million and $0.3 million, respectively.
	Details of the Company’s 2013 European footprint program reserve, which for the first quarter ended March 29, 2015 relates only to severance, is as follows:
		First Quarter Ended
		March 29, 2015
		(in millions)
	Balance at December 31, 2014	$	1.5
	Net pre-tax restructuring charges	0.2
	Utilization and foreign currency impact	(1.2		)
	Balance at March 29, 2015	$	0.5
	The following table summarizes total expected, incurred and remaining pre-tax costs for 2013 European footprint program actions by type, and all attributable to the EMEA reportable segment:
		Severance			Legal and			Asset			Facility			Total
					consultancy			write-downs			exit
											and other
		(in millions)
	Expected costs	$	7.5		$	0.2		$	0.2		$	0.5		$	8.4
	Costs incurred—2013	(4.1		)	—			—			—			(4.1		)
	Costs incurred—2014	(3.2		)	(0.2		)	(0.2		)	(0.2		)	(3.8		)
	Costs incurred—first quarter 2015	(0.2		)	—			—			(0.3		)	(0.5		)
	Remaining costs at March 29, 2015	$	—		$	—		$	—		$	—		$	—
	Other Actions
	The Company also periodically initiates other actions which are not part of a major program.  Total “Other Actions” pre-tax restructuring expense was $0.2 million and $3.8 million for the first quarters of 2015 and 2014, respectively.
	In the fourth quarter of 2014, management initiated certain restructuring actions and strategic initiatives with respect to the Company’s EMEA segment in response to the ongoing economic challenges in Europe and additional product rationalization. The restructuring actions primarily include expected severance benefits and limited costs relating to asset write offs, professional fees and relocation.  The total pre-tax charge for these restructuring initiatives is expected to be approximately $9.9 million, of which approximately $7.2 million of pre-tax charges were incurred as of the first quarter of 2015 for the program to date. The remaining expected costs relate to severance, asset write-offs and relocation costs and are expected to be completed by the end of the fourth quarter of fiscal 2016.  The restructuring reserve for these actions as of March 29, 2015 relates to the severance recorded in the prior year.
	The following table summarizes total expected, incurred and remaining pre-tax costs for the EMEA restructuring actions and strategic initiatives:
		Severance			Legal and			Asset			Facility			Total
					consultancy			write-downs			exit
											and other
		(in millions)
	Expected costs	$	8.8		$	0.2		$	0.8		$	0.1		$	9.9
	Costs incurred—2014	(6.9		)	—			—			—			(6.9		)
	Costs incurred—first quarter 2015	—			(0.2		)	(0.1		)	—			(0.3		)
	Remaining costs at March 29, 2015	$	1.9		$	—		$	0.7		$	0.1		$	2.7
	In 2014, the Company initiated restructuring activities in the Americas and Corporate to reduce costs through reductions-in-force.  Total pre-tax restructuring expense of $2.7 million was incurred in the first quarter of 2014 relating to these initiatives. A final adjustment reducing restructuring expense by $0.1 million was recorded in the first quarter of 2015. There are no remaining expected costs associated with these activities.

Earnings_per_Share

Earnings per Share	3 Months Ended
	Mar. 29, 2015
Earnings per Share
Earnings per Share
	6.Earnings per Share
	The following tables set forth the reconciliation of the calculation of earnings per share:
		For the First Quarter Ended March 29, 2015					For the First Quarter Ended March 30, 2014
		Income		Shares	Per Share		Income		Shares	Per Share
		(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount
		(amounts in millions, except per share amounts)
	Basic EPS:
	Net income	$	11.6	35.1	$	0.33	$	14.1	35.4	$	0.40
	Effect of dilutive securities:
	Common stock equivalents			0.1					0.1
	Diluted EPS:
	Net income	$	11.6	35.2	$	0.33	$	14.1	35.5	$	0.40
	Options to purchase 0.3 million shares of Class A common stock were outstanding during the first quarters of 2015 and 2014, respectively, but were not included in the computation of diluted EPS because to do so would be anti-dilutive.
	On April 30, 2013, the Company’s Board of Directors authorized the repurchase of up to $90 million of the Company’s Class A common stock from time to time on the open market or in privately negotiated transactions.  In connection with this repurchase program, the Company entered into a Rule 10b5-1 plan, which permits shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws.  The repurchase program may be suspended or discontinued at any time, subject to the terms of the Rule 10b5-1 plan with respect to the repurchase program.  During the first quarter ended March 29, 2015, the Company repurchased approximately 164,000 shares of Class A common stock at a cost of approximately $9.4 million.  As of March 29, 2015, there was approximately $18 million remaining authorized for share repurchase under this program.

Segment_Information

Segment Information	3 Months Ended
	Mar. 29, 2015
Segment Information
Segment Information
	7.Segment Information
	The Company operates in three geographic segments: Americas, EMEA, and Asia-Pacific. AERCO is included in the Americas segment results for the first quarter ended March 29, 2015.  Each of these segments is managed separately and has separate financial results that are reviewed by the Company’s chief operating decision-maker. All intercompany sales transactions have been eliminated. Sales by region are based upon location of the entity recording the sale. The accounting policies for each segment are the same as those described in the summary of significant accounting policies.
	The following is a summary of the Company’s significant accounts and balances by segment, reconciled to the consolidated totals:
		First Quarter Ended
		March 29,			March 30,
		2015			2014
		(in millions)
	Net sales
	Americas	$	237.4		$	219.1
	EMEA	109			139.1
	Asia-Pacific	9.8			7
	Consolidated net sales	$	356.2		$	365.2
	Operating income (loss)
	Americas	$	24.2		$	22.6
	EMEA	5.4			8.9
	Asia-Pacific	1.5			0.9
	Subtotal reportable segments	31.1			32.4
	Corporate (*)	(8.3		)	(6.6		)
	Consolidated operating income	22.8			25.8
	Interest income	0.2			0.1
	Interest expense	(5.9		)	(4.9		)
	Other income (expense), net	0.2			(0.4		)
	Income from continuing operations before income taxes	$	17.3		$	20.6
	Capital expenditures
	Americas	$	4.1		$	2.2
	EMEA	1.2			2.5
	Asia-Pacific	0.3			0.3
	Consolidated capital expenditures	$	5.6		$	5
	Depreciation and amortization
	Americas	$	7		$	4.9
	EMEA	5.4			6.6
	Asia-Pacific	0.6			0.4
	Consolidated depreciation and amortization	$	13		$	11.9
	Identifiable assets (at end of period)
	Americas	$	1,060.20		$	767.9
	EMEA	714.8			875.9
	Asia-Pacific	84.9			71.4
	Consolidated identifiable assets	$	1,859.90		$	1,715.20
	Property, plant and equipment, net (at end of period)
	Americas	$	90.1		$	84.5
	EMEA	86.6			117.7
	Asia-Pacific	12.8			13.8
	Consolidated property, plant and equipment, net	$	189.5		$	216
	*   Corporate expenses are primarily for administrative compensation expense, internal controls costs, professional fees, including corporate-related legal and audit expenses, shareholder services and benefit administration costs.
	The above operating segments are presented on a basis consistent with the presentation included in the Company’s December 31, 2014 consolidated financial statements included in its Annual Report on Form 10-K. The EMEA segment was significantly impacted by foreign currency translation in the first quarter of 2015 compared to the first quarter of 2014.
	The U.S. property, plant and equipment of the Company’s Americas segment was $86.3 million and $80.0 million at March 29, 2015 and March 30, 2014, respectively.  The following includes U.S. net sales of the Company’s Americas segment:
		First Quarter Ended
		March 29,			March 30,
		2015			2014
		(in millions)
	U.S. net sales	$	221.4		$	201.6
	The following includes intersegment sales for Americas, EMEA and Asia-Pacific:
		First Quarter Ended
		March 29,			March 30,
		2015			2014
		(in millions)
	Intersegment Sales
	Americas	$	1.8		$	1.2
	EMEA	2.7			3.6
	Asia-Pacific	30.5			39.0
	Intersegment sales	$	35.0		$	43.8

Accumulated_Other_Comprehensiv

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 29, 2015
Accumulated Other Comprehensive Income (Loss).
Accumulated Other Comprehensive Income (Loss)
	8.Accumulated Other Comprehensive (Loss) Income
	Accumulated other comprehensive (loss) income consists of the following:
		Foreign			Pension			Accumulated Other
		Currency			Adjustment			Comprehensive
		Translation						Income (Loss)
		(in millions)
	Balance December 31, 2014	$	(53.0	)	$	(36.1	)	$	(89.1	)
	Change in period	(65.1		)	0.2			(64.9		)
	Balance March 29, 2015	$	(118.1	)	$	(35.9	)	$	(154.0	)
	Balance December 31, 2013	$	37.9		$	(25.9	)	$	12
	Change in period	(4.3		)	0.2			(4.1		)
	Balance March 30, 2014	$	33.6		$	(25.7	)	$	7.9

Debt

Debt	3 Months Ended
	Mar. 29, 2015
Debt
Debt
	9.Debt
	On February 18, 2014, the Company terminated its prior credit agreement and entered into a new Credit Agreement (the Credit Agreement) among the Company, certain subsidiaries of the Company who become borrowers under the Credit Agreement, JPMorgan Chase Bank, N.A., as Administrative Agent, Swing Line Lender and Letter of Credit Issuer, and the other lenders referred to therein. The Credit Agreement provides for a $500 million, five-year, senior unsecured revolving credit facility which may be increased by an additional $500 million under certain circumstances and subject to the terms of the Credit Agreement. The Credit Agreement has a sublimit of up to $100 million in letters of credit. The Credit Agreement matures on February 18, 2019.
	Borrowings outstanding under the Credit Agreement bear interest at a fluctuating rate per annum equal to an applicable percentage equal to (1) in the case of Eurocurrency rate loans, the British Bankers Association LIBOR rate plus an applicable percentage, ranging from 0.975% to 1.45%, determined by reference to the Company’s consolidated leverage ratio, or (2) in the case of base rate loans and swing line loans, the highest of (a) the federal funds rate plus 0.5%, (b) the rate of interest in effect for such day as announced by JPMorgan Chase Bank, N.A. as its “prime rate,” and (c) the British Bankers Association LIBOR rate plus 1.0%, plus an applicable percentage, ranging from 0.00% to 0.45%, determined by reference to the Company’s consolidated leverage ratio. In addition to paying interest under the Credit Agreement, the Company is also required to pay certain fees in connection with the credit facility, including, but not limited to, an unused facility fee and letter of credit fees.  Under the Credit Agreement, the Company is required to satisfy and maintain specified financial ratios and other financial condition tests.  The Company may repay loans outstanding under the Credit Agreement from time to time without premium or penalty, other than customary breakage costs, if any, and subject to the terms of the Credit Agreement. As of March 29, 2015, the Company was in compliance with all covenants related to the Credit Agreement and had $200.1 million of unused and available credit under the Credit Agreement and $24.9 million of stand-by letters of credit outstanding on the Credit Agreement. The Company had $275 million of borrowings outstanding under the Credit Agreement at March 29, 2015.
	The Company is a party to several note agreements as further detailed in Note 10 of Notes to Consolidated Financial Statements of the Annual Report on Form 10-K for the year ended December 31, 2014.  These note agreements require the Company to maintain a fixed charge coverage ratio of consolidated EBITDA plus consolidated rent expense during the period to consolidated fixed charges.  Consolidated fixed charges are the sum of consolidated interest expense for the period and consolidated rent expense.  As of March 29, 2015, the Company was in compliance with all covenants regarding these note agreements.

Contingencies_and_Environmenta

Contingencies and Environmental Remediation	3 Months Ended
	Mar. 29, 2015
Contingencies and Environmental Remediation
Contingencies and Environmental Remediation
	10.Contingencies and Environmental Remediation
	Accrual and Disclosure Policy
	The Company is a defendant in numerous legal matters arising from its ordinary course of operations, including those involving product liability, environmental matters and commercial disputes.
	The Company reviews its lawsuits and other legal proceedings on an ongoing basis and follows appropriate accounting guidance when making accrual and disclosure decisions.  The Company establishes accruals for matters when the Company assesses that it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated.  The Company’s assessment of whether a loss is probable is based on its assessment of the ultimate outcome of the matter following all appeals.
	Under the FASB-issued ASC 450 “Contingencies”, an event is “reasonably possible” if “the chance of the future event or events occurring is more than remote but less than likely” and an event is “remote” if “the chance of the future event or events occurring is slight”.  Thus, references to the upper end of the range of reasonably possible loss for cases in which the Company is able to estimate a range of reasonably possible loss mean the upper end of the range of loss for cases for which the Company believes the risk of loss is more than slight.
	There may continue to be exposure to loss in excess of any amount accrued.  When it is possible to estimate the reasonably possible loss or range of loss above the amount accrued for the matters disclosed, that estimate is aggregated and disclosed.  The Company records legal costs associated with its legal contingencies as incurred, except for legal costs associated with product liability claims which are included in the actuarial estimates used in determining the product liability accrual.
	As of March 29, 2015, the Company estimates that the aggregate amount of reasonably possible loss in excess of the amount accrued for its legal contingencies is approximately $6.4 million pre-tax. With respect to the estimate of reasonably possible loss, management has estimated the upper end of the range of reasonably possible loss based on (i) the amount of money damages claimed, where applicable, (ii) the allegations and factual development to date, (iii) available defenses based on the allegations, and/or (iv) other potentially liable parties. This estimate is based upon currently available information and is subject to significant judgment and a variety of assumptions, and known and unknown uncertainties. The matters underlying the estimate will change from time to time, and actual results may vary significantly from the current estimate. In the event of an unfavorable outcome in one or more of the matters described below, the ultimate liability may be in excess of amounts currently accrued, if any, and may be material to the Company’s operating results or cash flows for a particular quarterly or annual period. However, based on information currently known to it, management believes that the ultimate outcome of all matters, as they are resolved over time, is not likely to have a material adverse effect on the financial condition of the Company, though the outcome could be material to the Company’s operating results for any particular period depending, in part, upon the operating results for such period.
	Connector Class Actions
	In November and December 2014, Watts Water Technologies, Inc. and Watts Regulator Co. were named as defendants in three separate putative nationwide class action complaints (Meyers v. Watts Water Technologies, Inc., United States District Court for the Southern District of Ohio; Ponzo v. Watts Regulator Co., United States District Court for the District of Massachusetts; Sharp v. Watts Regulator Co., United States District Court for the District of Massachusetts) seeking to recover damages and other relief based on the alleged failure of water heater connectors.  The complaints seek among other items, damages in an unspecified amount, replacement costs, injunctive relief, declaratory relief, and attorneys’ fees and costs.
	In February 2015, Watts Water Technologies, Inc. and Watts Regulator Co. were named as defendants in a putative nationwide class action complaint (Klug v. Watts Water Technologies, Inc., et  al., United States District Court for the District of Nebraska) seeking to recover damages and other relief based on the alleged failure of the Company’s Floodsafe connectors.  The complaint seeks among other items, damages in an unspecified amount, injunctive relief, declaratory relief, and attorneys’ fees and costs.
	The Company is unable to estimate a range of reasonably possible loss for the above matters in which damages have not been specified because: (i) the proceedings are in the early stages; (ii) there is uncertainty as to the likelihood of a class being certified or the ultimate size of the class; (iii) there is uncertainty as to the resolution of certain legal and procedural motions; (iv) there are significant factual issues to be resolved; and (v) there are novel legal issues presented.
	Product Liability
	The Company is subject to a variety of potential liabilities in connection with product liability cases.  The Company maintains high-deductible product liability and other insurance coverage, which the Company believes to be generally in accordance with industry practices.  For product liability cases in the U.S., management establishes its product liability accrual, which includes legal costs associated with accrued claims, by utilizing third-party actuarial valuations which incorporate historical trend factors and the Company’s specific claims experience derived from loss reports provided by third-party claims administrators.
	Changes in the nature of product liability claims, legal costs, or the actual settlement amounts could affect the adequacy of the estimates and require changes to the accrual.  Because the liability is an estimate, the ultimate liability may be more or less than reported.
	Environmental Remediation
	The Company has been named as a potentially responsible party with respect to a limited number of identified contaminated sites.  The levels of contamination vary significantly from site to site as do the related levels of remediation efforts.  Environmental liabilities are recorded based on the most probable cost, if known, or on the estimated minimum cost of remediation.  Accruals are not discounted to their present value, unless the amount and timing of expenditures are fixed and reliably determinable.  The Company accrues estimated environmental liabilities based on assumptions, which are subject to a number of factors and uncertainties.  Circumstances that can affect the reliability and precision of these estimates include identification of additional sites, environmental regulations, level of clean-up required, technologies available, number and financial condition of other contributors to remediation and the time period over which remediation may occur.  The Company recognizes changes in estimates as new remediation requirements are defined or as new information becomes available.
	Asbestos Litigation
	The Company is defending approximately 250 lawsuits in different jurisdictions, alleging injury or death as a result of exposure to asbestos.  The complaints in these cases typically name a large number of defendants and do not identify any particular Company products as a source of asbestos exposure.  To date, discovery has failed to yield evidence of substantial exposure to any Company products and no judgments have been entered against the Company.
	Other Litigation
	Other lawsuits and proceedings or claims, arising from the ordinary course of operations, are also pending or threatened against the Company.

Defined_Benefit_Plans

Defined Benefit Plans	3 Months Ended
	Mar. 29, 2015
Defined Benefit Plans
Defined Benefit Plans
	11.Defined Benefit Plans
	For the majority of its U.S. employees, the Company sponsors a funded non-contributing defined benefit pension plan, the Watts Water Technologies, Inc. Pension Plan (the “Pension Plan”), and an unfunded non-contributing defined benefit pension plan, the Watts Water Technologies, Inc. Supplemental Employees Retirement Plan (the “SERP”). Benefits are based primarily on years of service and employees’ compensation. The funding policy of the Company for these plans is to contribute an annual amount that does not exceed the maximum amount that can be deducted for federal income tax purposes. On October 31, 2011, the Company’s Board of Directors voted to cease accruals effective December 31, 2011 under both the Company’s Pension Plan and the SERP. On April 28, 2014, the Company’s Board of Directors voted to terminate the Company’s Pension Plan and the SERP.
	The Pension Plan was terminated effective July 31, 2014. Distribution of plan assets pursuant to the termination will not be made until the plan termination satisfies the regulatory requirements prescribed by the Internal Revenue Service (IRS) and the Pension Benefit Guaranty Corporation, which is expected to occur in late 2015. The SERP was terminated effective May 15, 2014. The Company will settle all liabilities under the SERP in accordance with Section 409A of the Internal Revenue Code by paying lump sums to plan participants at least twelve and no more than twenty four months following the termination date. The Board of Directors authorized the Company to make such contributions to the Pension Plan and SERP as may be necessary to make the plans sufficient to settle all plan liabilities. During the third quarter ended September 28, 2014, the Company re-measured its pension liability and net loss in accumulated other comprehensive income to reflect the plan termination basis for both the Pension Plan and SERP. As a result, the pension liability increased $17.1 million and the net loss increased by $10.5 million, net of tax benefits of $6.6 million.
	The Company expects the distributions for the two plans to be completed by December 31, 2015. Except for retirees receiving payments under the Pension Plan (or “in pay status”), participants in the Pension Plan will have the choice of receiving either a single lump sum payment or an annuity. Retirees in pay status will continue to receive payments of their pension plan benefits pursuant to their current annuity elections. The Company plans to purchase annuity contracts from an insurance company for all retirees and participants that choose annuities as a payment option under the Pension Plan. All participants under the SERP will be paid a lump sum. The lump sum payments paid to participants will represent the actuarial equivalent value of the participants’ remaining accrued benefits under the Pension Plan and SERP as of the applicable distribution dates, calculated in accordance with the terms of the plans and based on the participants’ ages on the distribution dates.
	The components of net periodic benefit cost are as follows:
		First Quarter Ended
		March 29,			March 30,
		2015			2014
		(in millions)
	Service cost — administrative costs	$	0.4		$	0.2
	Interest costs on benefits obligation	1.4			1.5
	Expected return on assets	(1.2		)	(1.5		)
	Net actuarial loss amortization	0.4			0.3
	Net periodic benefit cost	$	1		$	0.5
	The information related to the Company’s pension funds cash flow is as follows:
		First Quarter Ended
		March 29, 2015			March 30, 2014
		(in millions)
	Employer contributions	$	0.3		$	0.2
	The Company expects to contribute approximately $40 million to $45 million to its pension plans for the remainder of 2015.  The expected contribution considers the expected shortfall based on a plan termination basis as of December 31, 2015.  The expected contribution is subject to change based on the distribution date, fair value of the plan assets at distribution, market interest rates and annuity purchase rates at distribution, demographic experience after 2014 and elected forms of payment.

Subsequent_Events

Subsequent Events	3 Months Ended
	Mar. 29, 2015
Subsequent Events
Subsequent Events
	12.Subsequent Events
	Dividend Declared
	On April 28, 2015, the Company declared a quarterly dividend of seventeen cents ($0.17) per share on each outstanding share of Class A common stock and Class B common stock payable on May 29, 2015 to stockholders of record at the close of business on May 18, 2015.

Accounting_Policies_Policies

Accounting Policies (Policies)	3 Months Ended
	Mar. 29, 2015
Accounting Policies
Estimates
	Estimates
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Goodwill and Long-Lived Assets
	Goodwill and Long-Lived Assets
	The changes in the carrying amount of goodwill by geographic segment are as follows:
		March 29, 2015
		Gross Balance											Accumulated Impairment Losses								Net Goodwill
		Balance			Acquired			Foreign			Balance		Balance			Impairment		Balance			March 29,
		January 1,			During			Currency			March 29,		January 1,			Loss		March 29,			2015
		2015			the			Translation			2015		2015			During the		2015
					Period			and Other								Period
		(in millions )
	Americas	$	398		$	—		$	(0.7	)	$	397.3	$	(24.5	)	$	—	$	(24.5	)	$	372.8
	Europe, Middle East and Africa (EMEA)	265.5			—			(26.3		)	239.2		—			—		—			239.2
	Asia-Pacific	12.9			—			—			12.9		(12.9		)	—		(12.9		)	—
	Total	$	676.4		$	—		$	(27.0	)	$	649.4	$	(37.4	)	$	—	$	(37.4	)	$	612
		March 30, 2014
		Gross Balance											Accumulated Impairment Losses								Net Goodwill
		Balance			Acquired			Foreign			Balance		Balance			Impairment		Balance			March 30,
		January 1,			During the			Currency			March 30,		January 1,			Loss During		March 30,			2014
		2014			Period			Translation			2014		2014			the Period		2014
								and Other
		(in millions)
	Americas	$	224.7		$	—		$	(0.4	)	$	224.3	$	(24.5	)	$	—	$	(24.5	)	$	199.8
	EMEA	301.3			—			(0.1		)	301.2		—			—		—			301.2
	Asia-Pacific	13.3			—			(0.4		)	12.9		—			—		—			12.9
	Total	$	539.3		$	—		$	(0.9	)	$	538.4	$	(24.5	)	$	—	$	(24.5	)	$	513.9
	Goodwill and indefinite-lived intangible assets are tested for impairment at least annually or more frequently if events or circumstances indicate that it is “more likely than not” that they might be impaired, such as from a change in business conditions. The Company performs its annual goodwill and indefinite-lived intangible assets impairment assessment in the fourth quarter of each year.
	On December 1, 2014, the Company completed the acquisition of AERCO International, Inc. (“AERCO”), in a share purchase transaction.  The aggregate purchase price, including an estimated working capital adjustment, was approximately $272.2 million and as of March 29, 2015 was subject to a final post-closing working capital adjustment. The Company accounted for the transaction as a business combination.  The Company completed a preliminary purchase price allocation that resulted in the recognition of $174.3 million in goodwill and $102.4 million in intangible assets.
	As of the end of the fourth quarter of 2014, management determined that it was “more likely than not” that a significant portion of the Asia-Pacific reporting unit’s third party and intersegment net sales were expected to decline as a result of the initial phase of the Americas and Asia-Pacific transformation and restructuring program. Based on this factor, the Company performed a quantitative impairment analysis for the Asia-Pacific reporting unit. The Company completed a fair value assessment of the net assets of the reporting unit and recorded an impairment of $12.9 million in the fourth quarter of 2014.  The Company estimated the fair value of the reporting unit using the present value of expected future cash flows that reflect the impact of certain product line rationalization efforts associated with the initial phase of the Americas and Asia-Pacific transformation and restructuring program, including the sale of certain assets.  In the second step of the impairment test, the carrying value of the goodwill exceeded the implied fair value of goodwill, resulting in a full impairment. There was no tax benefit associated with the impairment and the $12.9 million charge eliminated all goodwill on the Asia-Pacific reporting unit.
	Intangible assets with estimable lives and other long-lived assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability of intangible assets with estimable lives and other long-lived assets are measured by a comparison of the carrying amount of an asset or asset group to future net undiscounted pretax cash flows expected to be generated by the asset or asset group. If these comparisons indicate that an asset is not recoverable, the impairment loss recognized is the amount by which the carrying amount of the asset or asset group exceeds the related estimated fair value. Estimated fair value is based on either discounted future pretax operating cash flows or appraised values, depending on the nature of the asset. The Company determines the discount rate for this analysis based on the weighted average cost of capital based on the market and guideline public companies for the related business, and does not allocate interest charges to the asset or asset group being measured.  Judgment is required to estimate future operating cash flows.
	Intangible assets include the following:
		March 29, 2015									December 31, 2014
		Gross			Accumulated			Net			Gross		Accumulated			Net
		Carrying			Amortization			Carrying			Carrying		Amortization			Carrying
		Amount						Amount			Amount					Amount
		(in millions)
	Patents	$	16.1		$	(13.5	)	$	2.6		$	16.2	$	(13.3	)	$	2.9
	Customer relationships	203.5			(91.1		)	112.4			206.7		(87.5		)	119.2
	Technology	41.8			(13.8		)	28			42.1		(12.9		)	29.2
	Trade Names	20.3			(4.6		)	15.7			20.6		(4.2		)	16.4
	Other	9.5			(5.7		)	3.8			9.5		(5.7		)	3.8
	Total amortizable intangibles	291.2			(128.7		)	162.5			295.1		(123.6		)	171.5
	Indefinite-lived intangible assets	36.9			—			36.9			38.6		—			38.6
	Total	$	328.1		$	(128.7	)	$	199.4		$	333.7	$	(123.6	)	$	210.1
	The Company acquired $102.4 million in intangible assets as part of the AERCO acquisition, consisting primarily of customer and manufacturing representative relationships valued at $78.5 million, developed technology of $15.8 million and the trade name of $7.4 million.  The weighted-average remaining life of total amortizable intangible assets is 15 years and by asset category of customer relationships, developed technology and trade name are 16 years, 10 years and 20 years, respectively.
	Aggregate amortization expense for amortizable intangible assets for the first quarters of 2015 and 2014 was $5.1 million and $3.7 million, respectively.  Additionally, future amortization expense for the next five years on amortizable intangible assets is expected to be approximately $14.7 million for the remainder of 2015, $19.2 million for 2016, $18.9 million for 2017, $15.7 million for 2018 and $11.9 million for 2019. Amortization expense is recorded on a straight-line basis over the estimated useful lives of the intangible assets. The weighted-average remaining life of total amortizable intangible assets is 12.3 years. Patents, customer relationships, technology, trade names and other amortizable intangibles have weighted-average remaining lives of 4.9 years, 12.0 years, 10.2 years, 14.4 years and 33.2 years, respectively. Indefinite-lived intangible assets primarily include trademarks and trade names.
Stock-Based Compensation
	Stock-Based Compensation
	The Company maintains one stock incentive plan, the Second Amended and Restated 2004 Stock Incentive Plan (the “2004 Stock Incentive Plan”).  Under this plan, key employees have been granted nonqualified stock options to purchase the Company’s Class A common stock. Options typically become exercisable over a four-year period at the rate of 25% per year and expire ten years after the grant date. However, most options granted in 2014 become exercisable over a three-year period at the rate of one-third per year.  Options granted under the plan may have exercise prices of not less than 100% of the fair market value of the Class A common stock on the date of grant. The Company’s current practice is to grant all options at fair market value on the grant date. The Company did not issue any stock options in the first three months of 2015 and issued 4,808 stock options during the first three months of 2014.
	The Company grants shares of restricted stock and deferred shares to key employees and stock awards to non-employee members of the Company’s Board of Directors under the 2004 Stock Incentive Plan.  Stock awards to non-employee members of the Company’s Board of Directors are fully vested upon grant.  Employees’ restricted stock awards and deferred shares typically vest over a three-year period at the rate of one-third per year, except that most restricted stock awards and deferred shares granted in 2014 vest over a two-year period at the rate of 50% per year. The restricted stock awards and deferred shares are amortized to expense on a straight-line basis over the vesting period. The Company issued 1,262 and 1,747 shares of restricted stock in the first three months of 2015 and 2014, respectively.
	Beginning in 2014, the Company also granted performance stock units to key employees under the 2004 Stock Incentive Plan.  Performance stock units vest at the end of a three-year performance period.  Upon vesting, the number of shares of the Company’s Class A common stock awarded to each performance stock unit recipient will be determined based on the Company’s performance relative to certain performance goals set at the time the performance stock units were granted.  The performance goals for the 2014 performance stock units are based on the compound annual growth rate of the Company’s revenue over the three-year performance period and the Company’s return on invested capital (“ROIC”) for the third year of the performance period.  The performance period for the 2014 performance stock units is January 1, 2014 through December 31, 2016.  The 2014 performance stock units also provide an overall minimum ROIC threshold, which the Company must exceed in order for any shares of the Company’s Class A common stock to be earned. The number of shares of Class A common stock that may be earned by a performance stock unit recipient ranges from 0% to 200% of a target number of shares designated for each recipient at the time of grant.  The performance stock units are amortized to expense over the vesting period, and based on the Company’s performance relative to the performance goals, may be adjusted.  If such goals are not met, no awards are earned and previously recognized compensation expense is reversed. The Company issued 117,619 shares of performance stock units in 2014 under the 2004 Stock Incentive Plan.  No shares of performance stock units were issued in the first three months of 2015.
	The Company has a Management Stock Purchase Plan that allows for the purchase of restricted stock units (RSUs) by key employees.  On an annual basis, key employees may elect to receive a portion of their annual incentive compensation in RSUs instead of cash.  Each RSU represents one share of Class A common stock and is purchased by the employee at 67% of the fair market value of the Company’s Class A common stock on the date of grant.  RSUs vest either annually over a three-year period from the grant date or upon the third anniversary of the grant date and receipt of the shares underlying RSUs is deferred for a minimum of three years or such greater number of years as is chosen by the employee.  An aggregate of 2,000,000 shares of Class A common stock may be issued under the Management Stock Purchase Plan. The Company granted 59,995 RSUs and 30,561 RSUs in the first three months of 2015 and 2014, respectively.
	The fair value of each RSU issued under the Management Stock Purchase Plan is estimated on the date of grant using the Black-Scholes-Merton Model based on the following weighted average assumptions:
		2015		2014
	Expected life (years)	3.0		3.0
	Expected stock price volatility	23.4	%	31.2	%
	Expected dividend yield	1.2	%	0.9	%
	Risk-free interest rate	1.1	%	0.7	%
	The above assumptions were used to determine the weighted average grant-date fair value of RSUs of $19.04 and $22.57 in 2015 and 2014, respectively.
	A more detailed description of each of these plans can be found in Note 12 of Notes to Consolidated Financial Statements in the Company’s Annual Report on Form 10-K for the year ended December 31, 2014.
Shipping and Handling
	Shipping and Handling
	The Company’s shipping and handling costs included in selling, general and administrative expenses were $14.4 million and $14.7 million for the first quarters of 2015 and 2014, respectively.
Research and Development
	Research and Development
	Research and development costs included in selling, general and administrative expenses were $6.4 million and $6.3 million for the first quarters of 2015 and 2014, respectively.
Taxes, Other than Income Taxes
	Taxes, Other than Income Taxes
	Taxes assessed by governmental authorities on sale transactions are recorded on a net basis and excluded from sales in the Company’s consolidated statements of operations.
Income Taxes
	Income Taxes
	Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
New Accounting Standards
	New Accounting Standards
	In April 2015, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2015-03, “Interest — Imputation of Interest: Simplifying the Presentation of Debt Issuance Costs”. Under ASU 2015- 03, debt issuance costs related to a recognized debt liability will be presented on the balance sheet as a direct deduction from the debt liability, similar to the presentation of debt discounts.  The cost of issuing debt will no longer be recorded as a separate asset, except when incurred before receipt of the funding from the associated debt liability. ASU 2015-03 is effective in the first quarter of 2016 for public companies with calendar year ends, with early adoption permitted. The ASU requires retrospective application to all prior periods presented in the financial statements. The adoption of this guidance is not expected to have a material impact on the Company’s financial statements.
	In January 2015, the FASB issued ASU 2015-01, “Income Statement—Extraordinary and Unusual Items: Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items”. ASU 2015- 01 eliminates from U.S. GAAP the concept of extraordinary items as part of its initiative to reduce complexity in accounting standards. ASU 2015-01 is effective in the first quarter of 2016 for public companies with calendar year ends, with early adoption permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The ASU may be applied prospectively or retrospectively to all prior periods presented. The adoption of this guidance is not expected to have a material impact on the Company’s financial statements.

Accounting_Policies_Tables

Accounting Policies (Tables)	3 Months Ended
	Mar. 29, 2015
Accounting Policies
Changes in the carrying amount of goodwill by geographic segment
		March 29, 2015
		Gross Balance											Accumulated Impairment Losses								Net Goodwill
		Balance			Acquired			Foreign			Balance		Balance			Impairment		Balance			March 29,
		January 1,			During			Currency			March 29,		January 1,			Loss		March 29,			2015
		2015			the			Translation			2015		2015			During the		2015
					Period			and Other								Period
		(in millions )
	Americas	$	398		$	—		$	(0.7	)	$	397.3	$	(24.5	)	$	—	$	(24.5	)	$	372.8
	Europe, Middle East and Africa (EMEA)	265.5			—			(26.3		)	239.2		—			—		—			239.2
	Asia-Pacific	12.9			—			—			12.9		(12.9		)	—		(12.9		)	—
	Total	$	676.4		$	—		$	(27.0	)	$	649.4	$	(37.4	)	$	—	$	(37.4	)	$	612
		March 30, 2014
		Gross Balance											Accumulated Impairment Losses								Net Goodwill
		Balance			Acquired			Foreign			Balance		Balance			Impairment		Balance			March 30,
		January 1,			During the			Currency			March 30,		January 1,			Loss During		March 30,			2014
		2014			Period			Translation			2014		2014			the Period		2014
								and Other
		(in millions)
	Americas	$	224.7		$	—		$	(0.4	)	$	224.3	$	(24.5	)	$	—	$	(24.5	)	$	199.8
	EMEA	301.3			—			(0.1		)	301.2		—			—		—			301.2
	Asia-Pacific	13.3			—			(0.4		)	12.9		—			—		—			12.9
	Total	$	539.3		$	—		$	(0.9	)	$	538.4	$	(24.5	)	$	—	$	(24.5	)	$	513.9
Intangible assets
		March 29, 2015									December 31, 2014
		Gross			Accumulated			Net			Gross		Accumulated			Net
		Carrying			Amortization			Carrying			Carrying		Amortization			Carrying
		Amount						Amount			Amount					Amount
		(in millions)
	Patents	$	16.1		$	(13.5	)	$	2.6		$	16.2	$	(13.3	)	$	2.9
	Customer relationships	203.5			(91.1		)	112.4			206.7		(87.5		)	119.2
	Technology	41.8			(13.8		)	28			42.1		(12.9		)	29.2
	Trade Names	20.3			(4.6		)	15.7			20.6		(4.2		)	16.4
	Other	9.5			(5.7		)	3.8			9.5		(5.7		)	3.8
	Total amortizable intangibles	291.2			(128.7		)	162.5			295.1		(123.6		)	171.5
	Indefinite-lived intangible assets	36.9			—			36.9			38.6		—			38.6
	Total	$	328.1		$	(128.7	)	$	199.4		$	333.7	$	(123.6	)	$	210.1
Schedule of weighted average assumptions used to estimate the grant-date fair value of restricted stock units
		2015		2014
	Expected life (years)	3.0		3.0
	Expected stock price volatility	23.4	%	31.2	%
	Expected dividend yield	1.2	%	0.9	%
	Risk-free interest rate	1.1	%	0.7	%

Acquisitions_Tables

Acquisitions (Tables)	3 Months Ended
	Mar. 29, 2015
Acquisitions
Summary of the value of assets and liabilities acquired
	The following table summarizes the value of the assets and liabilities acquired (in millions):
	Accounts receivable	$	16.7
	Inventory	16.4
	Fixed assets	7.6
	Deferred tax assets	8
	Other assets	7.6
	Intangible assets	102.4
	Goodwill	174.3
	Accounts payable	(6.7		)
	Accrued expenses and other	(18.1		)
	Deferred tax liability	(36.0		)
	Purchase price	$	272.2
Supplemental pro-forma information
		First Quarter Ended
	Amounts in millions (except per share information)	March 29, 2015			March 30, 2014
	Net sales	$	356.2		$	383.7
	Net income from continuing operations	$	12.3		$	13.3
	Net income per share:
	Basic EPS—continuing operations	$	0.35		$	0.38
	Diluted EPS—continuing operations	$	0.35		$	0.38

Financial_Instruments_and_Deri1

Financial Instruments and Derivative Instruments (Tables)	3 Months Ended
	Mar. 29, 2015
Financial Instruments and Derivative Instruments
Schedule of fair value of financial assets and liabilities
			Fair Value Measurements at March 29, 2015 Using:
					Quoted Prices in		Significant Other		Significant
					Active		Observable		Unobservable
					Markets for Identical		Inputs		Inputs
					Assets
			Total		(Level 1)		(Level 2)		(Level 3)
			(in millions)
	Assets
	Plan asset for deferred compensation(1)		$	3.7	$	3.7	$	—	$	—
	Total assets		$	3.7	$	3.7	$	—	$	—
	Liabilities
	Plan liability for deferred compensation(2)		$	3.7	$	3.7	$	—	$	—
	Contingent consideration(3)		2.3		—		—		2.3
	Total liabilities		$	6.0	$	3.7	$	—	$	2.3
			Fair Value Measurements at December 31, 2014 Using:
					Quoted Prices in		Significant Other		Significant
					Active		Observable		Unobservable
					Markets for Identical		Inputs		Inputs
					Assets
			Total		(Level 1)		(Level 2)		(Level 3)
			(in millions)
	Assets
	Plan asset for deferred compensation(1)		$	4.0	$	4.0	$	—	$	—
	Total assets		$	4.0	$	4.0	$	—	$	—
	Liabilities
	Plan liability for deferred compensation(2)		$	4.0	$	4.0	$	—	$	—
	Contingent consideration(3)		2.5		—		—		2.5
	Total liabilities		$	6.5	$	4.0	$	—	$	2.5
		-1		Included on the Company’s consolidated balance sheet in other assets (other, net).
		-2		Included on the Company’s consolidated balance sheet in accrued compensation and benefits.
		-3		Included on the Company’s consolidated balance sheet in accrued expenses and other liabilities as of March 29, 2015 and December 31, 2014.
Summary of the changes in fair value of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3)
			Balance				Total realized and					Balance
							unrealized (gains)
							losses included in:
			December 31,		Settlements		Net earnings		Comprehensive			March 29,
			2014				adjustments		income			2015
			(in millions)
	Contingent consideration		$	2.5	$	—	$	—	$	(0.2	)	$	2.3
Carrying amount and estimated fair market value of the company's long-term debt, including current portion
			March 29,		December 31,
			2015		2014
			(in millions)
	Carrying amount		$	578.9	$	579.7
	Estimated fair value		$	597.2	$	599.3

Restructuring_and_Other_Charge1

Restructuring and Other Charges, Net (Tables)	3 Months Ended
	Mar. 29, 2015
Restructuring and Other Charges, Net
Summary of the pre-tax cost by restructuring program
		First Quarter Ended
		March 29,			March 30,
		2015			2014
		(in millions)
	Restructuring costs:
	2015 Actions	$	1.3		$	—
	2013 Actions	0.5			0.4
	Other Actions	0.2			3.8
	Total restructuring and other charges, net	$	2.0		$	4.2
Summary of recorded pre-tax restructuring charges by business segments
		First Quarter Ended
		March 29,			March 30,
		2015			2014
		(in millions)
	Americas	$	1.3		$	1.9
	EMEA	0.8			1.5
	Corporate	(0.1		)	0.8
	Total	$	2		$	4.2
2013 Actions
Restructuring and other charges
Summary of European footprint program reserve related to severance
		First Quarter Ended
		March 29, 2015
		(in millions)
	Balance at December 31, 2014	$	1.5
	Net pre-tax restructuring charges	0.2
	Utilization and foreign currency impact	(1.2		)
	Balance at March 29, 2015	$	0.5
Summary of total expected, incurred and remaining pre-tax costs for European footprint program actions by type
		Severance			Legal and			Asset			Facility			Total
					consultancy			write-downs			exit
											and other
		(in millions)
	Expected costs	$	7.5		$	0.2		$	0.2		$	0.5		$	8.4
	Costs incurred—2013	(4.1		)	—			—			—			(4.1		)
	Costs incurred—2014	(3.2		)	(0.2		)	(0.2		)	(0.2		)	(3.8		)
	Costs incurred—first quarter 2015	(0.2		)	—			—			(0.3		)	(0.5		)
	Remaining costs at March 29, 2015	$	—		$	—		$	—		$	—		$	—
Other Actions
Restructuring and other charges
Summary of the total expected, incurred and remaining pre-tax costs for EMEA restructuring actions and strategic initiatives
		Severance			Legal and			Asset			Facility			Total
					consultancy			write-downs			exit
											and other
		(in millions)
	Expected costs	$	8.8		$	0.2		$	0.8		$	0.1		$	9.9
	Costs incurred—2014	(6.9		)	—			—			—			(6.9		)
	Costs incurred—first quarter 2015	—			(0.2		)	(0.1		)	—			(0.3		)
	Remaining costs at March 29, 2015	$	1.9		$	—		$	0.7		$	0.1		$	2.7

Earnings_per_Share_Tables

Earnings per Share (Tables)	3 Months Ended
	Mar. 29, 2015
Earnings per Share
Summary of reconciliation of the calculation of earnings per share
		For the First Quarter Ended March 29, 2015					For the First Quarter Ended March 30, 2014
		Income		Shares	Per Share		Income		Shares	Per Share
		(Numerator)		(Denominator)	Amount		(Numerator)		(Denominator)	Amount
		(amounts in millions, except per share amounts)
	Basic EPS:
	Net income	$	11.6	35.1	$	0.33	$	14.1	35.4	$	0.40
	Effect of dilutive securities:
	Common stock equivalents			0.1					0.1
	Diluted EPS:
	Net income	$	11.6	35.2	$	0.33	$	14.1	35.5	$	0.40

Segment_Information_Tables

Segment Information (Tables)	3 Months Ended
	Mar. 29, 2015
Segment Information
Summary of the Company's significant accounts and balances by segment, reconciled to the consolidated totals
		First Quarter Ended
		March 29,			March 30,
		2015			2014
		(in millions)
	Net sales
	Americas	$	237.4		$	219.1
	EMEA	109			139.1
	Asia-Pacific	9.8			7
	Consolidated net sales	$	356.2		$	365.2
	Operating income (loss)
	Americas	$	24.2		$	22.6
	EMEA	5.4			8.9
	Asia-Pacific	1.5			0.9
	Subtotal reportable segments	31.1			32.4
	Corporate (*)	(8.3		)	(6.6		)
	Consolidated operating income	22.8			25.8
	Interest income	0.2			0.1
	Interest expense	(5.9		)	(4.9		)
	Other income (expense), net	0.2			(0.4		)
	Income from continuing operations before income taxes	$	17.3		$	20.6
	Capital expenditures
	Americas	$	4.1		$	2.2
	EMEA	1.2			2.5
	Asia-Pacific	0.3			0.3
	Consolidated capital expenditures	$	5.6		$	5
	Depreciation and amortization
	Americas	$	7		$	4.9
	EMEA	5.4			6.6
	Asia-Pacific	0.6			0.4
	Consolidated depreciation and amortization	$	13		$	11.9
	Identifiable assets (at end of period)
	Americas	$	1,060.20		$	767.9
	EMEA	714.8			875.9
	Asia-Pacific	84.9			71.4
	Consolidated identifiable assets	$	1,859.90		$	1,715.20
	Property, plant and equipment, net (at end of period)
	Americas	$	90.1		$	84.5
	EMEA	86.6			117.7
	Asia-Pacific	12.8			13.8
	Consolidated property, plant and equipment, net	$	189.5		$	216
	*   Corporate expenses are primarily for administrative compensation expense, internal controls costs, professional fees, including corporate-related legal and audit expenses, shareholder services and benefit administration costs.
Schedule of U.S. net sales of the Company's Americas segment
		First Quarter Ended
		March 29,			March 30,
		2015			2014
		(in millions)
	U.S. net sales	$	221.4		$	201.6
Schedule of intersegment sales for Americas, EMEA and Asia-Pacific
		First Quarter Ended
		March 29,			March 30,
		2015			2014
		(in millions)
	Intersegment Sales
	Americas	$	1.8		$	1.2
	EMEA	2.7			3.6
	Asia-Pacific	30.5			39.0
	Intersegment sales	$	35.0		$	43.8

Accumulated_Other_Comprehensiv1

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 29, 2015
Accumulated Other Comprehensive Income (Loss).
Schedule of amounts recognized in accumulated other comprehensive income (loss)
		Foreign			Pension			Accumulated Other
		Currency			Adjustment			Comprehensive
		Translation						Income (Loss)
		(in millions)
	Balance December 31, 2014	$	(53.0	)	$	(36.1	)	$	(89.1	)
	Change in period	(65.1		)	0.2			(64.9		)
	Balance March 29, 2015	$	(118.1	)	$	(35.9	)	$	(154.0	)
	Balance December 31, 2013	$	37.9		$	(25.9	)	$	12
	Change in period	(4.3		)	0.2			(4.1		)
	Balance March 30, 2014	$	33.6		$	(25.7	)	$	7.9

Defined_Benefit_Plans_Tables

Defined Benefit Plans (Tables)	3 Months Ended
	Mar. 29, 2015
Defined Benefit Plans
Schedule of the components of net periodic benefit cost
		First Quarter Ended
		March 29,			March 30,
		2015			2014
		(in millions)
	Service cost — administrative costs	$	0.4		$	0.2
	Interest costs on benefits obligation	1.4			1.5
	Expected return on assets	(1.2		)	(1.5		)
	Net actuarial loss amortization	0.4			0.3
	Net periodic benefit cost	$	1		$	0.5
Information related to the company's pension funds cash flow
		First Quarter Ended
		March 29, 2015			March 30, 2014
		(in millions)
	Employer contributions	$	0.3		$	0.2

Basis_of_Presentation_Details

Basis of Presentation (Details)	3 Months Ended
	Mar. 29, 2015
Basis of Presentation
Length of fiscal year	364 days
Length of fiscal quarter	91 days

Accounting_Policies_Details

Accounting Policies (Details) (USD $)	3 Months Ended			0 Months Ended
In Millions, unless otherwise specified	Mar. 29, 2015	Dec. 31, 2014	Mar. 30, 2014	Dec. 01, 2014
Gross Balance
Balance at the beginning of the period	$676.40		$539.30
Foreign Currency Translation and Other	-27		-0.9
Balance at the end of the period	649.4	676.4	538.4
Accumulated Impairment Losses
Balance at the beginning of the period	-37.4		-24.5
Impairment Loss During the Period		12.9
Balance at the end of the period	-37.4	-37.4	-24.5
Net Goodwill	612	639	513.9
Business combination
Purchase price allocated to goodwill	612	639	513.9
Tax benefit on Impairment charge	0
Aerco
Accumulated Impairment Losses
Net Goodwill				174.3
Business combination
Aggregate consideration, net				272.2
Purchase price allocated to goodwill				174.3
Purchase price allocated to intangible assets				102.4
Americas
Gross Balance
Balance at the beginning of the period	398		224.7
Foreign Currency Translation and Other	-0.7		-0.4
Balance at the end of the period	397.3		224.3
Accumulated Impairment Losses
Balance at the beginning of the period	-24.5		-24.5
Balance at the end of the period	-24.5		-24.5
Net Goodwill	372.8		199.8
Business combination
Purchase price allocated to goodwill	372.8		199.8
EMEA
Gross Balance
Balance at the beginning of the period	265.5		301.3
Foreign Currency Translation and Other	-26.3		-0.1
Balance at the end of the period	239.2		301.2
Accumulated Impairment Losses
Net Goodwill	239.2		301.2
Business combination
Purchase price allocated to goodwill	239.2		301.2
Asia Pacific
Gross Balance
Balance at the beginning of the period			13.3
Foreign Currency Translation and Other			-0.4
Balance at the end of the period	12.9	12.9	12.9
Accumulated Impairment Losses
Balance at the end of the period	-12.9	-12.9
Net Goodwill			12.9
Business combination
Purchase price allocated to goodwill			$12.90

Accounting_Policies_Details_2

Accounting Policies (Details 2) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 29, 2015	Mar. 30, 2014	Dec. 31, 2014
Intangible assets subject to amortization
Gross Carrying Amount	$291.20		$295.10
Accumulated Amortization	-128.7		-123.6
Net Carrying Amount	162.5		171.5
Indefinite-lived intangible assets
Indefinite-lived intangible assets	36.9		38.6
Intangible assets
Gross Carrying Amount	328.1		333.7
Net Carrying Amount	199.4		210.1
Weighted-average amortization	12 years 3 months 18 days
Aggregate amortization expense for amortized intangible assets	5.1	3.7
Future amortization expense
Future amortization expense for remainder of 2015	14.7
Future amortization expense, 2016	19.2
Future amortization expense, 2017	18.9
Future amortization expense, 2018	15.7
Future amortization expense, 2019	11.9
Aerco
Intangible assets
Net Carrying Amount	102.4
Weighted-average amortization	15 years
Patents
Intangible assets subject to amortization
Gross Carrying Amount	16.1		16.2
Accumulated Amortization	-13.5		-13.3
Net Carrying Amount	2.6		2.9
Intangible assets
Weighted-average amortization	4 years 10 months 24 days
Customer relationships
Intangible assets subject to amortization
Gross Carrying Amount	203.5		206.7
Accumulated Amortization	-91.1		-87.5
Net Carrying Amount	112.4		119.2
Intangible assets
Weighted-average amortization	12 years
Customer relationships | Aerco
Intangible assets
Gross Carrying Amount	78.5
Weighted-average amortization	16 years
Technology
Intangible assets subject to amortization
Gross Carrying Amount	41.8		42.1
Accumulated Amortization	-13.8		-12.9
Net Carrying Amount	28		29.2
Intangible assets
Weighted-average amortization	10 years 2 months 12 days
Technology | Aerco
Intangible assets
Gross Carrying Amount	15.8
Weighted-average amortization	10 years
Trade name
Intangible assets subject to amortization
Gross Carrying Amount	20.3		20.6
Accumulated Amortization	-4.6		-4.2
Net Carrying Amount	15.7		16.4
Intangible assets
Weighted-average amortization	14 years 4 months 24 days
Trade name | Aerco
Intangible assets
Gross Carrying Amount	7.4
Weighted-average amortization	20 years
Other
Intangible assets subject to amortization
Gross Carrying Amount	9.5		9.5
Accumulated Amortization	-5.7		-5.7
Net Carrying Amount	$3.80		$3.80
Intangible assets
Weighted-average amortization	33 years 2 months 12 days

Accounting_Policies_Details_3

Accounting Policies (Details 3) (USD $)	3 Months Ended		12 Months Ended	9 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 29, 2015	Mar. 30, 2014	Dec. 31, 2014	Sep. 30, 2014
Shipping and Handling
Shipping and handling costs included in selling, general and administrative expense	$14.40	$14.70
Research and Development
Research and development costs included in selling, general, and administrative expense	$6.40	$6.30
Performance stock units | Class A | Minimum
Stock-based compensation
Percentage of stock earned by stock unit recipient			0.00%
Performance stock units | Class A | Maximum
Stock-based compensation
Percentage of stock earned by stock unit recipient			200.00%
Second Amended and Restated 2004 Stock Incentive Plan
Stock-based compensation
Number of stock incentive plans	1
Second Amended and Restated 2004 Stock Incentive Plan | Stock options
Stock-based compensation
Vesting period	4 years
Percentage of stock options becoming exercisable	25.00%
Expiration period	10 years
Options granted (in shares)		4,808
Second Amended and Restated 2004 Stock Incentive Plan | Stock options | Class A
Stock-based compensation
Minimum exercise price as percentage of fair market value of common stock on grant date	100.00%
Second Amended and Restated 2004 Stock Incentive Plan | Restricted stock
Stock-based compensation
Granted (in shares)	1,262	1,747
Second Amended and Restated 2004 Stock Incentive Plan | Deferred shares
Stock-based compensation
Vesting rate per year for maximum vesting period	0.33		50
Second Amended and Restated 2004 Stock Incentive Plan | Deferred shares | Maximum
Stock-based compensation
Vesting period	3 years		2 years
Second Amended and Restated 2004 Stock Incentive Plan | Performance stock units
Stock-based compensation
Vesting period			3 years
Granted (in shares)				117,619
Management Stock Purchase Plan | Class A
Stock-based compensation
Shares authorized	2,000,000
Management Stock Purchase Plan | Restricted stock units (RSUs)
Stock-based compensation
Granted (in shares)	59,995	30,561
Fair value assumptions
Expected life	3 years	3 years
Expected stock price volatility (as a percent)	23.40%	31.20%
Expected dividend yield (as a percent)	1.20%	0.90%
Risk-free interest rate (as a percent)	1.10%	0.70%
Weighted average grant-date fair value (in dollars per share)	$19.04	$22.57
Management Stock Purchase Plan | Restricted stock units (RSUs) | Minimum
Stock-based compensation
Vesting period	3 years
Management Stock Purchase Plan | Restricted stock units (RSUs) | Maximum
Stock-based compensation
Vesting period	3 years
Management Stock Purchase Plan | Restricted stock units (RSUs) | Class A
Stock-based compensation
Number of common shares for each unit of award held	1
Exercise price as percentage of fair market value of common stock on grant date	67.00%

Acquisitions_Details

Acquisitions (Details) (USD $)	3 Months Ended	0 Months Ended	3 Months Ended
In Millions, except Per Share data, unless otherwise specified	Mar. 29, 2015	Dec. 01, 2014	Mar. 30, 2014	Jun. 28, 2015	Jun. 30, 2013	Dec. 31, 2014	Dec. 31, 2012
Acquisition
Purchase price allocated to goodwill	$612		$513.90			$639
Estimated useful lives	12 years 3 months 18 days
Value of the assets and liabilities acquired
Goodwill	612		513.9			639
Technology
Acquisition
Estimated useful lives	10 years 2 months 12 days
Customer relationships
Acquisition
Estimated useful lives	12 years
Trade name
Acquisition
Estimated useful lives	14 years 4 months 24 days
Aerco
Acquisition
Short term working capital escrow		7.7
Aggregate consideration, net		272.2
Purchase price allocated to goodwill		174.3
Purchase price allocated to intangible assets		102.4
Revenues	22.2
Operating Income (Loss)	1.2
Acquisition accounting charges	0.9
Goodwill deductible for tax purposes		19.4
Value of the assets and liabilities acquired
Accounts receivable		16.7
Inventory		16.4
Fixed assets		7.6
Deferred tax assets		8
Other assets		7.6
Intangible assets		102.4
Goodwill		174.3
Accounts payable		-6.7
Accrued expenses and other		-18.1
Deferred tax liability		-36
Purchase price		272.2
Supplemental pro-forma information
Net income from continuing operations	12.3		13.3
Net interest expense related to the financing			0.7
Net amortization expense			1.1
Net acquisition-related charges and third-party costs	0.7
Basic EPS - continuing operations	$0.35		$0.38
Diluted EPS - continuing operations	$0.35		$0.38
Aerco | Technology
Acquisition
Purchase price allocated to intangible assets		15.8
Estimated useful lives		10 years
Value of the assets and liabilities acquired
Intangible assets		15.8
Aerco | Customer relationships
Acquisition
Purchase price allocated to intangible assets		78.5
Estimated useful lives		16 years
Value of the assets and liabilities acquired
Intangible assets		78.5
Aerco | Trade name
Acquisition
Purchase price allocated to intangible assets		7.4
Estimated useful lives		20 years
Value of the assets and liabilities acquired
Intangible assets		7.4
Tekmar
Acquisition
Contingent liability of the acquisition date fair value							5.1
Contingent consideration payment			$2.20	$2.30	$1.20

Financial_Instruments_and_Deri2

Financial Instruments and Derivative Instruments (Details) (Fair value measured on a recurring basis, USD $)	Mar. 29, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Fair Value Measurements at Reporting Date
Financial assets, cash flow hedges	$0	$0
Financial liabilities, cash flow hedges	0	0
Total
Assets
Plan asset for deferred compensation	3.7	4
Total assets	3.7	4
Liabilities
Plan liability for deferred compensation	3.7	4
Contingent consideration	2.3	2.5
Total liabilities	6	6.5
Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets
Plan asset for deferred compensation	3.7	4
Total assets	3.7	4
Liabilities
Plan liability for deferred compensation	3.7	4
Total liabilities	3.7	4
Significant Unobservable Inputs (Level 3)
Liabilities
Contingent consideration	2.3	2.5
Total liabilities	$2.30	$2.50

Financial_Instruments_and_Deri3

Financial Instruments and Derivative Instruments (Details 2) (USD $)	3 Months Ended			12 Months Ended		3 Months Ended
In Millions, unless otherwise specified	Jun. 28, 2015	Mar. 30, 2014	Jun. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Mar. 29, 2015	Dec. 31, 2012
Tekmar
Reconciliation of changes in fair value of all financial assets and liabilities
Contingent liability of the acquisition date fair value							$5.10
Contingent consideration payment	2.3	2.2	1.2
Increase in fair value of contingent liability based on a revised estimate of the fair value of the contingent consideration				0.5	1
Contingent consideration
Reconciliation of changes in fair value of all financial assets and liabilities
Balance at the beginning of the period						2.5
Total realized and unrealized (gains) losses included in Comprehensive income						-0.2
Balance at the ending of the period						$2.30

Financial_Instruments_and_Deri4

Financial Instruments and Derivative Instruments (Details 3)	3 Months Ended
	Mar. 29, 2015
Derivative instruments
Percentage of projected intercompany purchases hedged by forward exchange contracts	50.00%
Period of projected intercompany purchase transactions	12 months

Financial_Instruments_and_Deri5

Financial Instruments and Derivative Instruments (Details 4) (USD $)	Mar. 29, 2015	Dec. 31, 2014
In Millions, unless otherwise specified
Long-term debt
Gross carrying amount	$578.90	$579.70
Estimated fair value	$597.20	$599.30
5.85% Senior notes due 2016
Senior notes
Interest rate (as a percent)	5.85%
5.05% Senior notes due 2020
Senior notes
Interest rate (as a percent)	5.05%

Restructuring_and_Other_Charge2

Restructuring and Other Charges, Net (Details) (USD $)	3 Months Ended			12 Months Ended	0 Months Ended
In Millions, unless otherwise specified	Mar. 29, 2015	Mar. 30, 2014	Dec. 31, 2014	Dec. 31, 2014	Feb. 17, 2015
Restructuring and other charges
Total restructuring and other charges, net	$2	$4.20
Pre-tax restructuring and other charges, net	2	4.2
Elimination of sales	356.2	365.2
Corporate
Restructuring and other charges
Pre-tax restructuring and other charges, net	-0.1	0.8
EMEA
Restructuring and other charges
Pre-tax restructuring and other charges, net	0.8	1.5
Americas
Restructuring and other charges
Pre-tax restructuring and other charges, net	1.3	1.9
2015 Actions
Restructuring and other charges
Net pre-tax restructuring charges	1.3
Total pre-tax charge relating to the program			15.2	15.2
Goodwill impairment			12.9	12.9
Indefinite-lived intangible asset impairment			0.5	0.5
Asia Pacific tax benefit on after tax restructuring charges	0
2015 Actions | SG&A
Restructuring and other charges
Other transformation and deployment costs	1.5		1.8	1.8
2015 Actions | Minimum
Restructuring and other charges
Elimination of sales					175
pre-tax charge to earnings					40
Non-cash charges					25
Reduced expected costs of the planned actions	27
Reduced expected non-cash charges	17
Other transformation and deployment costs	4.7
Costs of severance benefits	1.6
Facility decommissioning, clean-up and other related exit costs	1.7
Accelerated depreciation and amortization of long-lived assets	1
Total expected restructuring and related costs (after tax)	22
2015 Actions | Maximum
Restructuring and other charges
Elimination of sales					200
pre-tax charge to earnings					50
Non-cash charges					30
Other transformation and deployment costs	9.3
Costs of severance benefits	10
Facility decommissioning, clean-up and other related exit costs	2.7
Accelerated depreciation and amortization of long-lived assets	10
Total expected restructuring and related costs (after tax)	40
2015 Actions | Americas
Restructuring and other charges
Pre-tax restructuring and other charges, net	1.3
2013 Actions
Restructuring and other charges
Net pre-tax restructuring charges	0.5	0.4
Total restructuring and other charges, net	0.4	0.3
Total expected restructuring and related costs (after tax)	5.9
Net pre-tax restructuring charges, expected to be recorded through fiscal 2015	8.4
Other Actions
Restructuring and other charges
Net pre-tax restructuring charges	0.2	3.8
Remaining costs	0
Other Actions | EMEA
Restructuring and other charges
Total expected restructuring and related costs (after tax)	9.9
Pre-tax restructuring and other charges incurred	7.2
Other Actions | Americas | Corporate
Restructuring and other charges
Net pre-tax restructuring charges		$2.70

Restructuring_and_Other_Charge3

Restructuring and Other Charges, Net (Details 2) (USD $)	3 Months Ended		12 Months Ended
In Millions, unless otherwise specified	Mar. 29, 2015	Mar. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Restructuring reserve
Restructuring expense	$2	$4.20
Summary of total expected, incurred and remaining pre-tax costs
Costs incurred	-2	-4.2
EMEA | 2013 Actions
Restructuring reserve
Restructuring expense	0.5		3.8	4.1
Summary of total expected, incurred and remaining pre-tax costs
Expected costs	8.4
Costs incurred	-0.5		-3.8	-4.1
EMEA | Other Actions
Restructuring reserve
Restructuring expense	0.3		6.9
Summary of total expected, incurred and remaining pre-tax costs
Expected costs			9.9
Costs incurred	-0.3		-6.9
Remaining costs	2.7
Severance | Europe | 2013 Actions
Restructuring reserve
Balance at the beginning of the period	1.5
Restructuring expense	0.2
Utilization and foreign currency impact	-1.2
Balance at the ending of the period	0.5
Summary of total expected, incurred and remaining pre-tax costs
Costs incurred	-0.2
Severance | EMEA | 2013 Actions
Restructuring reserve
Restructuring expense	0.2		3.2	4.1
Summary of total expected, incurred and remaining pre-tax costs
Expected costs	7.5
Costs incurred	-0.2		-3.2	-4.1
Severance | EMEA | Other Actions
Restructuring reserve
Restructuring expense			6.9
Summary of total expected, incurred and remaining pre-tax costs
Expected costs			8.8
Costs incurred			-6.9
Remaining costs	1.9
Legal and consultancy | EMEA | 2013 Actions
Restructuring reserve
Restructuring expense			0.2
Summary of total expected, incurred and remaining pre-tax costs
Expected costs	0.2
Costs incurred			-0.2
Legal and consultancy | EMEA | Other Actions
Restructuring reserve
Restructuring expense	0.2
Summary of total expected, incurred and remaining pre-tax costs
Expected costs			0.2
Costs incurred	-0.2
Asset write-downs | EMEA | 2013 Actions
Restructuring reserve
Restructuring expense			0.2
Summary of total expected, incurred and remaining pre-tax costs
Expected costs	0.2
Costs incurred			-0.2
Asset write-downs | EMEA | Other Actions
Restructuring reserve
Restructuring expense	0.1
Summary of total expected, incurred and remaining pre-tax costs
Expected costs			0.8
Costs incurred	-0.1
Remaining costs	0.7
Facility exit and other | EMEA | 2013 Actions
Restructuring reserve
Restructuring expense	0.3		0.2
Summary of total expected, incurred and remaining pre-tax costs
Expected costs	0.5
Costs incurred	-0.3		-0.2
Facility exit and other | EMEA | Other Actions
Summary of total expected, incurred and remaining pre-tax costs
Expected costs			0.1
Remaining costs	$0.10

Earnings_per_Share_Details

Earnings per Share (Details) (USD $)	3 Months Ended
In Millions, except Share data, unless otherwise specified	Mar. 29, 2015	Mar. 30, 2014	Apr. 30, 2013
Net income:
NET INCOME	$11.60	$14.10
Shares
Shares	35,100,000	35,400,000
Per Share Amount
NET INCOME (in dollars per share)	$0.33	$0.40
Dilutive securities, principally common stock options
Common stock equivalents (in shares)	100,000	100,000
Net Income
Net income	11.6	14.1
Weighted average number of shares:
Weighted average number of shares	35,200,000	35,500,000
Per Share Amount
Net income (in dollars per share)	$0.33	$0.40
Securities not included in the computation of diluted EPS
Options to purchase shares of Class A common stock	300,000	300,000
Number of shares of the entity's Class A common stock authorized to be repurchased			90
Remaining authorized repurchase amount	18
Number of shares of Class A common stock repurchased	164,000
Cost of shares of Class A common stock repurchased	$9.40	$9.40

Segment_Information_Details

Segment Information (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 29, 2015	Mar. 30, 2014	Dec. 31, 2014
	item
Segment Information
Number of geographic segments	3
Segment information
Net sales	$356.20	$365.20
Operating income (loss)	22.8	25.8
Interest income	0.2	0.1
Interest expense	-5.9	-4.9
Other (income) expense, net	0.2	-0.4
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	17.3	20.6
Identifiable assets (at end of period)	1,859.90	1,715.20	1,948
Property, plant and equipment, net (at end of period)	189.5	216	203.3
Capital expenditures	5.6	5
Depreciation and amortization	13	11.9
Reportable segments
Segment information
Operating income (loss)	31.1	32.4
Corporate
Segment information
Operating income (loss)	-8.3	-6.6
Intersegment sales
Segment information
Net sales	35	43.8
Americas
Segment information
Net sales	237.4	219.1
Identifiable assets (at end of period)	1,060.20	767.9
Property, plant and equipment, net (at end of period)	90.1	84.5
Capital expenditures	4.1	2.2
Depreciation and amortization	7	4.9
Americas | U.S.
Segment information
Net sales	221.4	201.6
Property, plant and equipment, net (at end of period)	86.3	80
Americas | Reportable segments
Segment information
Operating income (loss)	24.2	22.6
Americas | Intersegment sales
Segment information
Net sales	1.8	1.2
EMEA
Segment information
Net sales	109	139.1
Identifiable assets (at end of period)	714.8	875.9
Property, plant and equipment, net (at end of period)	86.6	117.7
Capital expenditures	1.2	2.5
Depreciation and amortization	5.4	6.6
EMEA | Reportable segments
Segment information
Operating income (loss)	5.4	8.9
EMEA | Intersegment sales
Segment information
Net sales	2.7	3.6
Asia Pacific
Segment information
Net sales	9.8	7
Identifiable assets (at end of period)	84.9	71.4
Property, plant and equipment, net (at end of period)	12.8	13.8
Capital expenditures	0.3	0.3
Depreciation and amortization	0.6	0.4
Asia Pacific | Reportable segments
Segment information
Operating income (loss)	1.5	0.9
Asia Pacific | Intersegment sales
Segment information
Net sales	$30.50	$39

Accumulated_Other_Comprehensiv2

Accumulated Other Comprehensive Income (Loss) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 29, 2015	Mar. 30, 2014	Dec. 31, 2014
Changes in accumulated other comprehensive income (loss)
Balance at the beginning of the period			($89.10)
Balance at the end of the period	-154		-89.1
Foreign Currency Translation
Changes in accumulated other comprehensive income (loss)
Balance at the beginning of the period	-53	37.9
Change in period	-65.1	-4.3
Balance at the end of the period	-118.1	33.6
Pension Adjustment
Changes in accumulated other comprehensive income (loss)
Balance at the beginning of the period	-36.1	-25.9
Change in period	0.2	0.2
Balance at the end of the period	-35.9	-25.7
Accumulated Other Comprehensive Income (Loss)
Changes in accumulated other comprehensive income (loss)
Balance at the beginning of the period	-89.1	12
Change in period	-64.9	-4.1
Balance at the end of the period	($154)	$7.90

Debt_Details

Debt (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 29, 2015
Credit Agreement
Credit Agreement
Multi-currency borrowing capacity	$500
Term of senior unsecured revolving credit facility	5 years
Potential additional borrowing capacity	500
Sublimit on letters of credit	100
Unused and available credit under the credit agreement	200.1
Stand-by letters of credit outstanding	24.9
Long-term Line of Credit	$275
Eurocurrency rate loans | LIBOR
Credit Agreement
Variable interest rate basis	LIBOR
Eurocurrency rate loans | LIBOR | Minimum
Credit Agreement
Interest rate added to base rate (as a percent)	0.98%
Eurocurrency rate loans | LIBOR | Maximum
Credit Agreement
Interest rate added to base rate (as a percent)	1.45%
Base rate loans and swing line loans | LIBOR
Credit Agreement
Interest rate added to base rate (as a percent)	1.00%
Variable interest rate basis	LIBOR
Base rate loans and swing line loans | LIBOR | Minimum
Credit Agreement
Interest rate added to base rate (as a percent)	0.00%
Base rate loans and swing line loans | LIBOR | Maximum
Credit Agreement
Interest rate added to base rate (as a percent)	0.45%
Base rate loans and swing line loans | Federal funds
Credit Agreement
Interest rate added to base rate (as a percent)	0.50%
Variable interest rate basis	federal funds rate
Base rate loans and swing line loans | Prime Rate
Credit Agreement
Variable interest rate basis	prime rate

Contingencies_and_Environmenta1

Contingencies and Environmental Remediation (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 29, 2015
	item
Litigation contingencies
Reasonably possible loss in excess of the amount accrued for its legal contingencies	6.4
Asbestos Litigation
Litigation contingencies
Number of lawsuits the entity is defending in different jurisdictions	250

Defined_Benefit_Plans_Details

Defined Benefit Plans (Details) (USD $)	3 Months Ended			0 Months Ended
In Millions, unless otherwise specified	Mar. 29, 2015	Sep. 28, 2014	Mar. 30, 2014	15-May-14
	item
Increase in pension liability		$17.10
Increase in net loss		10.5
Net loss, tax benefits		6.6
Distribution plans	2
Components of net periodic benefit cost
Service cost - administrative costs	0.4		0.2
Interest costs on benefits obligation	1.4		1.5
Expected return on assets	-1.2		-1.5
Net actuarial loss amortization	0.4		0.3
Net periodic benefit cost	1		0.5
Defined Benefit Plan, Contributions by Employer	0.3		0.2
Minimum
Term for settlement of liabilities to plan participants under SERP				12 months
Components of net periodic benefit cost
Expected employer contributions in remainder of fiscal year	40
Maximum
Term for settlement of liabilities to plan participants under SERP				24 months
Components of net periodic benefit cost
Expected employer contributions in remainder of fiscal year	$45

Subsequent_Events_Details

Subsequent Events (Details) (Subsequent event, USD $)	0 Months Ended
	Apr. 28, 2015
Class A
Subsequent events
Quarterly dividend declared (in dollars per share)	$0.17
Class B
Subsequent events
Quarterly dividend declared (in dollars per share)	$0.17