Supplemental Guarantor Information (Tables)

12 Months Ended

Dec. 31, 2019

Condensed Financial Information Disclosure [Abstract]

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)

Pentair plc and Subsidiaries

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)

Year Ended December 31, 2019

In millions	Parent Company Guarantor			Subsidiary Guarantor			Subsidiary Issuer			Non-guarantor Subsidiaries			Eliminations			Consolidated Total
Net sales	$	—		$	—		$	—		$	2,957.2		$	—		$	2,957.2
Cost of goods sold	—			—			—			1,905.7			—			1,905.7
Gross profit	—			—			—			1,051.5			—			1,051.5
Selling, general and administrative	12.5			0.1			1.3			526.2			—			540.1
Research and development	—			—			—			78.9			—			78.9
Operating (loss) income	(12.5		)	(0.1		)	(1.3		)	446.4			—			432.5
(Earnings) loss from continuing operations of investment in subsidiaries	(374.2		)	(376.3		)	(382.2		)	—			1,132.7			—
Other (income) expense:
Gain on sale of businesses	—			—			—			(2.2		)	—			(2.2		)
Net interest expense	—			2.0			4.6			23.5			—			30.1
Other income	—			—			—			(2.9		)	—			(2.9		)
Income (loss) from continuing operations before income taxes	361.7			374.2			376.3			428.0			(1,132.7		)	407.5
Provision for income taxes	—			—			—			45.8			—			45.8
Net income (loss) from continuing operations	361.7			374.2			376.3			382.2			(1,132.7		)	361.7
Loss from discontinued operations, net of tax	—			—			—			(6.0		)	—			(6.0		)
(Loss) earnings from discontinued operations of investment in subsidiaries	(6.0		)	(6.0		)	(6.0		)	—			18.0			—
Net income (loss)	$	355.7		$	368.2		$	370.3		$	376.2		$	(1,114.7	)	$	355.7
Comprehensive income (loss), net of tax
Net income (loss)	$	355.7		$	368.2		$	370.3		$	376.2		$	(1,114.7	)	$	355.7
Changes in cumulative translation adjustment	(15.3		)	(15.3		)	(15.3		)	(15.3		)	45.9			(15.3		)
Changes in market value of derivative financial instruments, net of tax	17.4			17.4			17.4			17.4			(52.2		)	17.4
Comprehensive income (loss)	$	357.8		$	370.3		$	372.4		$	378.3		$	(1,121.0	)	$	357.8

Pentair plc and Subsidiaries

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)

Year Ended December 31, 2018

In millions	Parent Company Guarantor			Subsidiary Guarantor			Subsidiary Issuer			Non-guarantor Subsidiaries			Eliminations			Consolidated Total
Net sales	$	—		$	—		$	—		$	2,965.1		$	—		$	2,965.1
Cost of goods sold	—			—			—			1,917.4			—			1,917.4
Gross profit	—			—			—			1,047.7			—			1,047.7
Selling, general and administrative	11.8			0.9			1.2			520.4			—			534.3
Research and development	—			—			—			76.7			—			76.7
Operating (loss) income	(11.8		)	(0.9		)	(1.2		)	450.6			—			436.7
(Earnings) loss from continuing operations of investment in subsidiaries	(333.5		)	(333.4		)	(376.5		)	—			1,043.4			—
Other (income) expense:
Loss on sale of businesses	—			—			—			7.3			—			7.3
Loss on early extinguishment of debt	—			—			17.1			—			—			17.1
Net interest (income) expense	—			(1.0		)	24.8			8.8			—			32.6
Other income	—			—			—			(0.1		)	—			(0.1		)
Income (loss) from continuing operations before income taxes	321.7			333.5			333.4			434.6			(1,043.4		)	379.8
Provision for income taxes	—			—			—			58.1			—			58.1
Net income (loss) from continuing operations	321.7			333.5			333.4			376.5			(1,043.4		)	321.7
Income from discontinued operations, net of tax	—			—			—			25.7			—			25.7
Earnings (loss) from discontinued operations of investment in subsidiaries	25.7			25.7			25.7			—			(77.1		)	—
Net income (loss)	$	347.4		$	359.2		$	359.1		$	402.2		$	(1,120.5	)	$	347.4
Comprehensive income (loss), net of tax
Net income (loss)	$	347.4		$	359.2		$	359.1		$	402.2		$	(1,120.5	)	$	347.4
Changes in cumulative translation adjustment	10.0			10.0			10.0			10.0			(30.0		)	10.0
Changes in market value of derivative financial instruments, net of tax	4.8			4.8			4.8			4.8			(14.4		)	4.8
Comprehensive income (loss)	$	362.2		$	374.0		$	373.9		$	417.0		$	(1,164.9	)	$	362.2

Pentair plc and Subsidiaries

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)

Year Ended December 31, 2017

In millions	Parent Company Guarantor			Subsidiary Guarantor			Subsidiary Issuer			Non-guarantor Subsidiaries			Eliminations			Consolidated Total
Net sales	$	—		$	—		$	—		$	2,845.7		$	—		$	2,845.7
Cost of goods sold	—			—			—			1,858.2			—			1,858.2
Gross profit	—			—			—			987.5			—			987.5
Selling, general and administrative	9.0			0.6			—			526.4			—			536.0
Research and development	—			—			—			73.2			—			73.2
Operating (loss) income	(9.0		)	(0.6		)	—			387.9			—			378.3
(Earnings) loss from continuing operations of investment in subsidiaries	(122.2		)	(122.2		)	(283.4		)	—			527.8			—
Other (income) expense:
Loss on sale of businesses	—			—			—			4.2			—			4.2
Loss on early extinguishment of debt	—			—			91.0			10.4			—			101.4
Net interest (income) expense	—			(0.6		)	70.7			17.2			—			87.3
Other expense	—			—			—			12.6			—			12.6
Income (loss) from continuing operations before income taxes	113.2			122.2			121.7			343.5			(527.8		)	172.8
(Benefit) provision for income taxes	(0.9		)	—			—			59.6			—			58.7
Net income (loss) from continuing operations	114.1			122.2			121.7			283.9			(527.8		)	114.1
Income from discontinued operations, net of tax	—			—			—			371.3			—			371.3
Gain from sale of discontinued operations, net of tax	—			—			—			181.1			—			181.1
Earnings (loss) from discontinued operations of investment in subsidiaries	552.4			552.4			552.4			—			(1,657.2		)	—
Net income (loss)	$	666.5		$	674.6		$	674.1		$	836.3		$	(2,185.0	)	$	666.5
Comprehensive income (loss), net of tax
Net income (loss)	$	666.5		$	674.6		$	674.1		$	836.3		$	(2,185.0	)	$	666.5
Changes in cumulative translation adjustment	497.5			497.5			497.5			497.5			(1,492.5		)	497.5
Changes in market value of derivative financial instruments, net of tax	(4.6		)	(4.6		)	(4.6		)	(4.6		)	13.8			(4.6		)
Comprehensive income (loss)	$	1,159.4		$	1,167.5		$	1,167.0		$	1,329.2		$	(3,663.7	)	$	1,159.4

Condensed Consolidating Balance Sheet

Pentair plc and Subsidiaries

Condensed Consolidating Balance Sheet

December 31, 2019

In millions	Parent Company Guarantor		Subsidiary Guarantor		Subsidiary Issuer		Non-guarantor Subsidiaries		Eliminations			Consolidated Total
Assets
Current assets
Cash and cash equivalents	$	—	$	—	$	0.1	$	82.4	$	—		$	82.5
Accounts and notes receivable, net	0.2		—		2.4		501.1		(0.8		)	502.9
Inventories	—		—		—		377.4		—			377.4
Other current assets	1.2		—		0.2		97.7		—			99.1
Total current assets	1.4		—		2.7		1,058.6		(0.8		)	1,061.9
Property, plant and equipment, net	—		—		—		283.2		—			283.2
Other assets
Investments in subsidiaries	1,904.5		1,904.0		2,789.6		—		(6,598.1		)	—
Goodwill	—		—		—		2,258.3		—			2,258.3
Intangibles, net	—		—		—		339.2		—			339.2
Other non-current assets	110.6		0.9		1,278.7		184.1		(1,377.4		)	196.9
Total other assets	2,015.1		1,904.9		4,068.3		2,781.6		(7,975.5		)	2,794.4
Total assets	$	2,016.5	$	1,904.9	$	4,071.0	$	4,123.4	$	(7,976.3	)	$	4,139.5
Liabilities and Equity
Current liabilities
Accounts payable	$	2.4	$	0.1	$	0.1	$	323.3	$	(0.8	)	$	325.1
Employee compensation and benefits	0.1		—		—		70.9		—			71.0
Other current liabilities	39.7		0.3		13.1		299.8		—			352.9
Total current liabilities	42.2		0.4		13.2		694.0		(0.8		)	749.0
Other liabilities
Long-term debt	—		—		2,154.0		252.5		(1,377.4		)	1,029.1
Pension and other post-retirement compensation and benefits	—		—		—		96.4		—			96.4
Deferred tax liabilities	—		—		—		104.4		—			104.4
Other non-current liabilities	20.4		—		—		186.3		—			206.7
Total liabilities	62.6		0.4		2,167.2		1,333.6		(1,378.2		)	2,185.6
Equity	1,953.9		1,904.5		1,903.8		2,789.8		(6,598.1		)	1,953.9
Total liabilities and equity	$	2,016.5	$	1,904.9	$	4,071.0	$	4,123.4	$	(7,976.3	)	$	4,139.5

Pentair plc and Subsidiaries

Condensed Consolidating Balance Sheet

December 31, 2018

In millions	Parent Company Guarantor		Subsidiary Guarantor		Subsidiary Issuer		Non-guarantor Subsidiaries		Eliminations			Consolidated Total
Assets
Current assets
Cash and cash equivalents	$	0.1	$	—	$	0.1	$	74.1	$	—		$	74.3
Accounts and notes receivable, net	4.6		—		—		483.6		—			488.2
Inventories	—		—		—		387.5		—			387.5
Other current assets	3.4		—		2.2		99.2		(15.4		)	89.4
Total current assets	8.1		—		2.3		1,044.4		(15.4		)	1,039.4
Property, plant and equipment, net	—		—		—		272.6		—			272.6
Other assets
Investments in subsidiaries	1,903.8		2,036.1		2,675.7		—		(6,615.6		)	—
Goodwill	—		—		—		2,072.7		—			2,072.7
Intangibles, net	—		—		—		276.3		—			276.3
Other non-current assets	23.3		—		696.1		729.7		(1,303.6		)	145.5
Total other assets	1,927.1		2,036.1		3,371.8		3,078.7		(7,919.2		)	2,494.5
Total assets	$	1,935.2	$	2,036.1	$	3,374.1	$	4,395.7	$	(7,934.6	)	$	3,806.5
Liabilities and Equity
Current liabilities
Accounts payable	$	0.9	$	—	$	—	$	377.7	$	—		$	378.6
Employee compensation and benefits	0.2		—		—		111.5		—			111.7
Other current liabilities	47.6		1.5		4.4		290.3		(15.4		)	328.4
Total current liabilities	48.7		1.5		4.4		779.5		(15.4		)	818.7
Other liabilities
Long-term debt	29.9		130.8		1,333.9		596.6		(1,303.6		)	787.6
Pension and other post-retirement compensation and benefits	—		—		—		90.0		—			90.0
Deferred tax liabilities	—		—		—		105.9		—			105.9
Other non-current liabilities	20.5		—		—		147.7		—			168.2
Total liabilities	99.1		132.3		1,338.3		1,719.7		(1,319.0		)	1,970.4
Equity	1,836.1		1,903.8		2,035.8		2,676.0		(6,615.6		)	1,836.1
Total liabilities and equity	$	1,935.2	$	2,036.1	$	3,374.1	$	4,395.7	$	(7,934.6	)	$	3,806.5

Condensed Consolidating Statement of Cash Flows

Pentair plc and Subsidiaries

Condensed Consolidating Statement of Cash Flows

Year Ended December 31, 2019

In millions	Parent Company Guarantor			Subsidiary Guarantor			Subsidiary Issuer			Non-guarantor Subsidiaries			Eliminations			Consolidated Total
Operating activities
Net cash provided by (used for) operating activities	$	361.6		$	367.1		$	381.0		$	340.0		$	(1,096.7	)	$	353.0
Investing activities
Capital expenditures	—			—			—			(58.5		)	—			(58.5		)
Proceeds from sale of property and equipment	—			—			—			0.6			—			0.6
Proceeds from sale of businesses	—			—			—			15.3			—			15.3
Acquisitions, net of cash acquired	—			—			—			(287.8		)	—			(287.8		)
Net intercompany loan activity	(127.8		)	(131.7		)	(309.9		)	203.6			365.8			—
Other	—			—			—			(1.5		)	—			(1.5		)
Net cash (used for) provided by investing activities	(127.8		)	(131.7		)	(309.9		)	(128.3		)	365.8			(331.9		)
Financing activities
Net receipts of commercial paper and revolving long-term debt	—			—			41.9			9.6			—			51.5
Proceeds from long-term debt	—			—			600.0			—			—			600.0
Repayment of long-term debt	—			—			(401.5		)	—			—			(401.5		)
Net change in advances to subsidiaries	26.3			(235.4		)	(301.0		)	(220.8		)	730.9			—
Shares issued to employees, net of shares withheld	12.5			—			—			—			—			12.5
Repurchases of ordinary shares	(150.0		)	—			—			—			—			(150.0		)
Dividends paid	(122.7		)	—			—			—			—			(122.7		)
Other	—			—			(6.9		)	—			—			(6.9		)
Net cash (used for) provided by financing activities	(233.9		)	(235.4		)	(67.5		)	(211.2		)	730.9			(17.1		)
Effect of exchange rate changes on cash and cash equivalents	—			—			(3.6		)	7.8			—			4.2
Change in cash and cash equivalents	(0.1		)	—			—			8.3			—			8.2
Cash and cash equivalents, beginning of year	0.1			—			0.1			74.1			—			74.3
Cash and cash equivalents, end of year	$	—		$	—		$	0.1		$	82.4		$	—		$	82.5

Pentair plc and Subsidiaries

Condensed Consolidating Statement of Cash Flows

Year Ended December 31, 2018

In millions	Parent Company Guarantor			Subsidiary Guarantor			Subsidiary Issuer			Non-guarantor Subsidiaries			Eliminations			Consolidated Total
Operating activities
Net cash provided by (used for) operating activities	$	266.3		$	362.1		$	370.6		$	637.7		$	(1,197.6	)	$	439.1
Investing activities
Capital expenditures	—			—			—			(48.2		)	—			(48.2		)
Proceeds from sale of property and equipment	—			—			—			0.2			—			0.2
Payments due to sale of businesses	—			—			—			(12.8		)	—			(12.8		)
Acquisitions, net of cash acquired	—			—			—			(0.9		)	—			(0.9		)
Net intercompany loan activity	—			94.1			181.0			1,655.7			(1,930.8		)	—
Net cash provided by (used for) investing activities of continuing operations	—			94.1			181.0			1,594.0			(1,930.8		)	(61.7		)
Net cash used for investing activities from discontinued operations	—			—			—			(7.1		)	—			(7.1		)
Net cash provided by (used for) investing activities	—			94.1			181.0			1,586.9			(1,930.8		)	(68.8		)
Financing activities
Net receipts (repayments) of commercial paper and revolving long-term debt	—			—			41.9			(2.2		)	—			39.7
Repayment of long-term debt	—			—			(675.1		)	—			—			(675.1		)
Premium paid on early extinguishment of debt	—			—			(16.0		)	—			—			(16.0		)
Distribution of cash from nVent, net of cash transferred	—			—			993.6			(74.2		)	—			919.4
Net change in advances to subsidiaries	407.7			(456.2		)	(874.6		)	(2,205.3		)	3,128.4			—
Shares issued to employees, net of shares withheld	13.3			—			—			—			—			13.3
Repurchases of ordinary shares	(500.0		)	—			—			—			—			(500.0		)
Dividends paid	(187.2		)	—			—			—			—			(187.2		)
Other	—			—			(2.0		)	—			—			(2.0		)
Net cash provided by (used for) financing activities	(266.2		)	(456.2		)	(532.2		)	(2,281.7		)	3,128.4			(407.9		)
Change in cash held for sale	—			—			—			27.0			—			27.0
Effect of exchange rate changes on cash and cash equivalents	—			—			(19.3		)	17.9			—			(1.4		)
Change in cash and cash equivalents	0.1			—			0.1			(12.2		)	—			(12.0		)
Cash and cash equivalents, beginning of year	—			—			—			86.3			—			86.3
Cash and cash equivalents, end of year	$	0.1		$	—		$	0.1		$	74.1		$	—		$	74.3

Pentair plc and Subsidiaries

Condensed Consolidating Statement of Cash Flows

Year Ended December 31, 2017

In millions	Parent Company Guarantor			Subsidiary Guarantor			Subsidiary Issuer			Non-guarantor Subsidiaries			Eliminations			Consolidated Total
Operating activities
Net cash provided by (used for) operating activities	$	678.3		$	676.1		$	656.2		$	794.6		$	(2,185.0	)	$	620.2
Investing activities
Capital expenditures	—			—			—			(39.1		)	—			(39.1		)
Proceeds from sale of property and equipment	—			—			—			3.7			—			3.7
Proceeds from sale of businesses and other	—			—			2,765.6			(6.2		)	—			2,759.4
Acquisitions, net of cash acquired	—			—			—			(45.9		)	—			(45.9		)
Net intercompany loan activity	—			(58.9		)	103.7			172.5			(217.3		)	—
Net cash provided by (used for) investing activities of continuing operations	—			(58.9		)	2,869.3			85.0			(217.3		)	2,678.1
Net cash used for investing activities of discontinued operations	—			—			—			(47.7		)	—			(47.7		)
Net cash (used for) provided by investing activities	—			(58.9		)	2,869.3			37.3			(217.3		)	2,630.4
Financing activities
Net (repayments) receipts of commercial paper and revolving long-term debt	—			—			(914.7		)	1.6			—			(913.1		)
Repayment of long-term debt	—			—			(1,917.8		)	(91.5		)	—			(2,009.3		)
Premium paid on early    extinguishment of debt	—			—			(86.0		)	(8.9		)	—			(94.9		)
Net change in advances to subsidiaries	(263.8		)	(617.2		)	(680.8		)	(840.5		)	2,402.3			—
Shares issued to employees, net of shares withheld	37.2			—			—			—			—			37.2
Repurchases of ordinary shares	(200.0		)	—			—			—			—			(200.0		)
Dividends paid	(251.7		)	—			—			—			—			(251.7		)
Other	—			—			—			(0.8		)	—			(0.8		)
Net cash (used for) provided by financing activities	(678.3		)	(617.2		)	(3,599.3		)	(940.1		)	2,402.3			(3,432.6		)
Change in cash held for sale	—			—			—			(5.4		)	—			(5.4		)
Effect of exchange rate changes on cash and cash equivalents	—			—			73.8			(17.0		)	—			56.8
Change in cash and cash equivalents	—			—			—			(130.6		)	—			(130.6		)
Cash and cash equivalents, beginning of year	—			—			—			216.9			—			216.9
Cash and cash equivalents, end of year	$	—		$	—		$	—		$	86.3		$	—		$	86.3