XML 59 R65.htm IDEA: XBRL DOCUMENT v2.4.0.8
Financial Statements of Parent Company Guarantor - Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) (Detail) (USD $)
In Millions, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Sep. 28, 2013
Sep. 29, 2012
Condensed Financial Statements, Captions [Line Items]        
Net sales $ 1,824.8 $ 865.5 $ 5,563.0 $ 2,665.2
Cost of goods sold 1,187.2 587.4 3,734.2 1,794.3
Gross profit 637.6 278.1 1,828.8 870.9
Selling, general and administrative 366.1 203.1 1,191.5 548.5
Research and development 31.5 19.8 97.1 61.4
Operating income (loss) 240.0 55.2 540.2 261.0
Income (Loss) from Equity Method Investments (0.5) (0.6) (1.6) (2.3)
Other (income) expense:        
Gain on sale of business (0.1) 0 (16.8) 0
Net interest expense 17.2 18.6 52.6 49.5
Income before income taxes and noncontrolling interest 223.4 37.2 506.0 213.8
Provision for income taxes 49.2 4.6 123.1 43.7
Noncontrolling interest 1.4 1.2 4.3 4.2
Net income (loss) attributable to Pentair Ltd. 172.8 31.4 378.6 165.9
Comprehensive income (loss), net of tax        
Net income 174.2 32.6 382.9 170.1
Changes in cumulative translation adjustment 89.1 41.2 (29.1) (3.8)
Changes in market value of derivative financial instruments (0.6) (8.4) (0.3) (5.3)
Total comprehensive income 262.7 65.4 353.5 161.0
Less: Comprehensive income attributable to noncontrolling interest 2.6 2.1 5.0 4.1
Comprehensive income (loss) attributable to Pentair Ltd. 260.1 63.3 348.5 156.9
Parent Company Guarantor
       
Condensed Financial Statements, Captions [Line Items]        
Selling, general and administrative (0.7)   (1.5)  
Operating income (loss) 0.7   1.5  
Loss (earnings) from investment in subsidiaries (173.3)   (381.1)  
Other (income) expense:        
Net interest expense 1.3   4.4  
Income before income taxes and noncontrolling interest 172.7   378.2  
Provision for income taxes (0.1)   (0.4)  
Net income (loss) attributable to Pentair Ltd. 172.8   378.6  
Comprehensive income (loss), net of tax        
Net income 172.8   378.6  
Changes in cumulative translation adjustment 87.9   (29.8)  
Changes in market value of derivative financial instruments (0.6)   (0.3)  
Total comprehensive income 260.1   348.5  
Comprehensive income (loss) attributable to Pentair Ltd. 260.1   348.5  
Subsidiary Issuer
       
Condensed Financial Statements, Captions [Line Items]        
Selling, general and administrative 3.1   10.1  
Operating income (loss) (3.1)   (10.1)  
Loss (earnings) from investment in subsidiaries (177.3)   (396.4)  
Other (income) expense:        
Net interest expense 0.6   6.7  
Income before income taxes and noncontrolling interest 173.6   379.6  
Provision for income taxes 1.3   1.3  
Net income (loss) attributable to Pentair Ltd. 172.3   378.3  
Comprehensive income (loss), net of tax        
Net income 172.3   378.3  
Changes in cumulative translation adjustment 87.9   (29.8)  
Changes in market value of derivative financial instruments (0.6)   (0.3)  
Total comprehensive income 259.6   348.2  
Comprehensive income (loss) attributable to Pentair Ltd. 259.6   348.2  
Non-Guarantor Subsidiaries
       
Condensed Financial Statements, Captions [Line Items]        
Net sales 1,824.8   5,563.0  
Cost of goods sold 1,187.2   3,734.2  
Gross profit 637.6   1,828.8  
Selling, general and administrative 363.7   1,182.9  
Research and development 31.5   97.1  
Operating income (loss) 242.4   548.8  
Income (Loss) from Equity Method Investments (0.5)   (1.6)  
Other (income) expense:        
Gain on sale of business (0.1)   (16.8)  
Net interest expense 15.3   41.5  
Income before income taxes and noncontrolling interest 227.7   525.7  
Provision for income taxes 48.0   122.2  
Noncontrolling interest 1.4   4.3  
Net income (loss) attributable to Pentair Ltd. 178.3   399.2  
Comprehensive income (loss), net of tax        
Net income 179.7   403.5  
Changes in cumulative translation adjustment 89.1   (29.1)  
Changes in market value of derivative financial instruments (0.6)   (0.3)  
Total comprehensive income 268.2   374.1  
Less: Comprehensive income attributable to noncontrolling interest 2.6   5.0  
Comprehensive income (loss) attributable to Pentair Ltd. 265.6   369.1  
Eliminations
       
Condensed Financial Statements, Captions [Line Items]        
Loss (earnings) from investment in subsidiaries 350.6   777.5  
Other (income) expense:        
Income before income taxes and noncontrolling interest (350.6)   (777.5)  
Net income (loss) attributable to Pentair Ltd. (350.6)   (777.5)  
Comprehensive income (loss), net of tax        
Net income (350.6)   (777.5)  
Changes in cumulative translation adjustment (175.8)   59.6  
Changes in market value of derivative financial instruments 1.2   0.6  
Total comprehensive income (525.2)   (717.3)  
Comprehensive income (loss) attributable to Pentair Ltd. $ (525.2)   $ (717.3)