Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2019	Jun. 30, 2019
Cover page.
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	001-38265
Entity Registrant Name	nVent Electric plc
Entity Incorporation, State or Country Code	L2
Entity Tax Identification Number	98-1391970
Entity Address, Address Line One	The Mille, 1000 Great West Road, 8th Floor (East)
Entity Address, City or Town	London
Entity Address, Postal Zip Code	TW8 9DW
Entity Address, Country	GB
Country Region	44
City Area Code	20
Local Phone Number	3966-0279
Title of 12(b) Security	Ordinary Shares, nominal value $0.01 per share
Trading Symbol	NVT
Entity Central Index Key	0001720635
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float		$ 4,146,966,237
Entity Common Stock, Shares Outstanding	169,492,538
Documents Incorporated by Reference	Parts of the Registrant's definitive proxy statement for its annual general meeting to be held on May 15, 2020, are incorporated by reference in this Form 10-K in response to Part III, ITEM 10, 11, 12, 13 and 14.
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated and Combined Statements of Operations and Comprehensive Income - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Net sales	$ 2,204.0	$ 2,213.6	$ 2,097.9
Cost of Goods and Services Sold	1,338.2	1,337.5	1,256.0
Gross profit	865.8	876.1	841.9
Selling, general and administrative	484.5	519.7	483.3
Research and development	48.2	45.6	42.5
Operating income	333.1	310.8	316.1
Net interest expense	44.7	31.2	0.2
Other expense	31.0	10.9	2.6
Income before income taxes	257.4	268.7	313.3
Provision (benefit) for income taxes	34.7	37.9	(48.4)
Net income	222.7	230.8	361.7
Comprehensive income, net of tax
Net income	222.7	230.8	361.7
Changes in cumulative translation adjustment	4.8	(48.2)	2.4
Changes in market value of derivative financial instruments, net of tax	4.4	(2.5)	1.1
Comprehensive income	$ 231.9	$ 180.1	$ 365.2
Earnings per ordinary share
Basic (dollars per share)	$ 1.30	$ 1.29	$ 2.02
Diluted (dollars per share)	$ 1.29	$ 1.28	$ 2.00
Weighted average ordinary shares outstanding
Basic (shares)	171.6	178.6	179.0
Diluted (shares)	173.0	180.8	181.2

Consolidated and Combined Balance Sheets - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 106.4	$ 159.0
Accounts and notes receivable, net of allowances of $5.4 and $6.1, respectively	334.3	340.9
Inventories	244.7	228.2
Other current assets	113.3	118.4
Total current assets	798.7	846.5
Property, plant and equipment, net	284.5	264.8
Other assets
Goodwill	2,279.1	2,234.3
Intangibles, net	1,160.5	1,173.3
Other non-current assets	117.5	33.8
Total other assets	3,557.1	3,441.4
Total assets	4,640.3	4,552.7
Current liabilities
Current maturities of long-term debt and short-term borrowings	17.5	12.5
Accounts payable	187.1	186.4
Employee compensation and benefits	71.9	75.8
Other current liabilities	185.7	187.0
Total current liabilities	462.2	461.7
Other liabilities
Long-term debt	1,047.1	929.2
Pension and other post-retirement compensation and benefits	207.2	177.9
Deferred tax liabilities	237.8	224.8
Other non-current liabilities	93.5	72.0
Total liabilities	2,047.8	1,865.6
Equity
Ordinary shares $0.01 par value, 400.0 authorized, 169.5 and 177.2 issued at December 31, 2019 and 2018, respectively	1.7	1.8
Additional paid-in capital	2,502.7	2,709.7
Retained earnings	186.7	83.4
Accumulated other comprehensive loss	(98.6)	(107.8)
Total equity	2,592.5	2,687.1
Total liabilities and equity	$ 4,640.3	$ 4,552.7

Consolidated and Combined Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Accounts and notes receivable, allowances	$ 5.4	$ 6.1
Common stock, par value (per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	400,000,000.0	400,000,000.0
Common stock, shares issued	169,500,000	177,200,000

Consolidated and Combined Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating activities
Net income	$ 222.7	$ 230.8	$ 361.7
Adjustments to reconcile net income to net cash provided by (used for) operating activities
Depreciation	35.4	36.2	36.5
Amortization	61.4	60.9	61.4
Deferred income taxes	(24.6)	(23.6)	(158.0)
Share-based compensation	16.1	12.8	14.6
Impairment of trade names	0.0	0.0	16.4
Pension and other post-retirement expense	36.5	14.9	14.3
Pension and other post-retirement contributions	(5.8)	(6.7)	(6.7)
Changes in assets and liabilities, net of effects of business acquisitions
Accounts and notes receivable	26.6	(1.3)	(18.2)
Inventories	0.9	(12.0)	(8.9)
Other current assets	10.2	7.3	5.6
Accounts payable	(7.9)	13.4	17.0
Employee compensation and benefits	(6.6)	6.8	11.6
Other current liabilities	(16.9)	27.5	21.3
Other non-current assets and liabilities	(11.7)	(23.5)	41.1
Net cash provided by (used for) operating activities of continuing operations	336.3	343.5	409.7
Investing activities
Capital expenditures	(38.8)	(39.5)	(31.8)
Proceeds from sale of property and equipment	6.3	2.4	4.2
Acquisitions, net of cash acquired	(127.8)	(2.0)	(13.6)
Net cash provided by (used for) investing activities	(160.3)	(39.1)	(41.2)
Financing activities
Net repayments of short-term borrowings	0.0	(0.3)	0.0
Net receipts of revolving credit facility	134.6	0.0	0.0
Proceeds from long-term debt	0.0	1,000.0	0.0
Repayment of long-term debt	(14.1)	(52.5)	0.0
Debt issuance costs	0.0	(9.9)	0.0
Cash provided at separation to former Parent	0.0	(993.6)	0.0
Dividends paid	(120.7)	(62.9)	0.0
Net transfers to former Parent prior to separation	0.0	0.0	(359.5)
Shares issued to employees, net of shares surrendered	9.5	8.6	0.0
Repurchases of ordinary shares	(235.7)	(56.0)	0.0
Net cash provided by (used for) financing activities	(226.4)	(166.6)	(359.5)
Effect of exchange rate changes on cash and cash equivalents	(2.2)	(5.7)	(3.6)
Change in cash and cash equivalents	(52.6)	132.1	5.4
Cash and cash equivalents, beginning of year	159.0	26.9	21.5
Cash and cash equivalents, end of year	106.4	159.0	26.9
Cash paid for interest, net	52.3	34.7	0.0
Cash paid for income taxes, net	$ 60.8	$ 57.4	$ 0.0

Consolidated and Combined Statements of Changes in Equity - USD ($) shares in Millions, $ in Millions	Total	Ordinary shares	Additional paid-in capital	Retained earnings	Net Parent Investment	Accumulated other comprehensive loss
Balance (in shares) at Dec. 31, 2016		0.0
Beginning Balance at Dec. 31, 2016	$ 3,485.7	$ 0.0	$ 0.0	$ 0.0	$ 3,546.3	$ (60.6)
Net Income	361.7				361.7
Other comprehensive income, net of tax	3.5					3.5
Net transfers from former Parent	(59.6)				(59.6)
Balance (in shares) at Dec. 31, 2017		0.0
Ending Balance at Dec. 31, 2017	3,791.3	$ 0.0	0.0	0.0	3,848.4	(57.1)
Net Income	230.8			177.3	53.5
Other comprehensive income, net of tax	(50.7)					(50.7)
Net transfers from former Parent	14.6				14.6
Cash provided at separation to Parent	(993.6)				(993.6)
Reclassification of Net Parent investment to additional paid-in capital	0.0		2,750.2		(2,750.2)
Issuance of common stock upon separation (in shares)		178.4
Issuance of common stock upon separation	1.8	$ 1.8	0.0
Shares surrendered by employees to pay taxes (in shares)		(0.2)
Shares surrendered by employees to pay taxes	(3.5)		(3.5)
Dividends declared	$ (93.9)			(93.9)
Share repurchase (in shares)	(2.4)	(2.4)
Share repurchases	$ (59.0)	$ 0.0	(59.0)
Exercise of options, net of shares tendered for payment (in shares)		1.0
Exercise of options, net of shares tendered for payment	12.1		12.1
Issuance of restricted shares, net of cancellations (in shares)		0.4
Share-based compensation	9.9		9.9
Balance (in shares) at Dec. 31, 2018		177.2
Ending Balance at Dec. 31, 2018	2,687.1	$ 1.8	2,709.7	83.4	0.0	(107.8)
Net Income	222.7			222.7	0.0
Other comprehensive income, net of tax	9.2					9.2
Shares surrendered by employees to pay taxes (in shares)		(0.1)
Shares surrendered by employees to pay taxes	(3.6)		(3.6)
Dividends declared	(119.4)			(119.4)
Share repurchase (in shares)		(8.9)
Share repurchases	(232.7)	$ (0.1)	(232.6)
Exercise of options, net of shares tendered for payment (in shares)		0.9
Exercise of options, net of shares tendered for payment	13.1		13.1
Issuance of restricted shares, net of cancellations (in shares)		0.4
Share-based compensation	16.1		16.1
Balance (in shares) at Dec. 31, 2019		169.5
Ending Balance at Dec. 31, 2019	$ 2,592.5	$ 1.7	$ 2,502.7	$ 186.7	$ 0.0	$ (98.6)

Basis of Presentation and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Basis of Presentation and Summary of Significant Accounting Policies

Business

nVent Electric plc ("nVent," "we," "us," "our" or the "Company") is a leading global provider of electrical connection and protection solutions. The Company is comprised of three reporting segments: Enclosures, Thermal Management and Electrical & Fastening Solutions.

The Company was incorporated in Ireland on May 30, 2017. Although our jurisdiction of organization is Ireland, we manage our affairs so that we are centrally managed and controlled in the United Kingdom (the "U.K.") and have tax residency in the U.K.

Separation from Pentair

On April 30, 2018, Pentair plc ("Pentair" or "former Parent") completed the separation of its Water business and its Electrical business into two independent, publicly-traded companies (the "separation"). To effect the separation, Pentair distributed to its shareholders one ordinary share of nVent for every ordinary share of Pentair held as of the record date of April 17, 2018. As a result of the distribution, nVent is now an independent publicly-traded company and began "regular way" trading under the symbol "NVT" on the New York Stock Exchange on May 1, 2018.

Except where indicated, references below to transactions completed by nVent prior to April 30, 2018 refer to transactions completed by or on behalf of the Electrical reporting segment of the former Parent that are reflected on the consolidated and combined financial statements of nVent.

Basis of presentation

The consolidated and combined financial statements have been prepared in U.S. dollars ("USD") and in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Intercompany accounts and transactions have been eliminated.

The financial statements for periods prior to April 30, 2018 were prepared on a stand-alone basis derived from the consolidated financial statements and records of the former Parent as if nVent were operated on a stand-alone basis.

Cost allocations

For periods prior to the separation, the consolidated and combined financial statements of nVent include general corporate expenses of the former Parent for certain support functions that were provided on a centralized basis, such as expenses related to executive management, finance, audit, legal, information technology, human resources, communications, facilities and employee benefits and compensation. These general corporate expenses are included in the Consolidated and Combined Statements of Operations and Comprehensive Income within Selling, general and administrative expense and Other expense. The amounts allocated were $42.5 million and $65.7 million for the years ended December 31, 2018 and 2017, respectively, of which $10.3 million and $31.0 million, respectively, were historically recorded to the Electrical segment in the former Parent’s consolidated financial statements. These expenses were allocated to nVent on the basis of direct usage when identifiable, with the remainder allocated based on a proportional basis of net sales, headcount or other measures.

The Company considers the allocation methodology regarding general corporate expenses of the former Parent to be reasonable for all periods presented. Nevertheless, the consolidated and combined financial statements of nVent for periods prior to the separation may not reflect the actual expenses that would have been incurred and may not reflect nVent’s consolidated and combined results of operations, financial position and cash flows had it been a stand-alone company during the periods presented. Actual costs for periods prior to the separation that would have been incurred if nVent had been a stand-alone company would depend on multiple factors including organization structure, capital structure and strategic decisions made in various areas, including information technology and infrastructure. Transactions between nVent and the former Parent have been included in related party transactions in these consolidated and combined financial statements and were considered to be effectively settled at the time the transaction was recorded. The total net effect of the settlement of these transactions is reflected in the Consolidated and Combined Statements of Cash Flows as a financing activity.

For periods prior to the separation, certain nVent operations were included in the former Parent's U.S. federal and state income tax returns and substantially all income taxes on those operations have been paid by the former Parent. Income tax expense and other income tax related information contained in these consolidated and combined financial statements for periods prior to the separation are presented on a separate return approach as if nVent filed its own tax returns. Under this approach, the provision for income taxes represented income tax paid or payable (or received or receivable) for the current year plus the change in deferred taxes during the year calculated as if nVent was a stand-alone taxpayer filing hypothetical income tax returns where applicable. Current income tax liabilities were assumed to be immediately settled with the former Parent and relieved through the Net Parent investment account and the Net transfers to former Parent in the Consolidated and Combined Statements of Cash Flows.

Fiscal year

Our fiscal year ends on December 31. We report our interim quarterly periods on a calendar quarter basis.

Use of estimates

The preparation of our consolidated and combined financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported in these consolidated and combined financial statements and accompanying notes, disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates include our accounting for valuation of goodwill and indefinite lived intangible assets, estimated losses on accounts receivable, estimated realizable value on excess and obsolete inventory, percentage of completion revenue recognition, assets acquired and liabilities assumed in acquisitions, contingent liabilities, income taxes and pension and other post-retirement benefits. Actual results could differ from our estimates.

Revenue recognition

Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for transferring those goods or providing services. We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable.

When determining whether the customer has obtained control of the goods or services, we consider any future performance obligations. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in Accounting Standards Codification 606 - Revenue from Contracts with Customers. Generally, there is no post-shipment obligation on product sold other than warranty obligations in the normal and ordinary course of business.

Contract transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of our contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. For contracts with multiple performance obligations, stand-alone selling price is generally readily observable.

Our performance obligations are satisfied at a point in time or over time as work progresses. Revenue from products and services transferred to customers at a point in time accounted for 73% and 72% of our revenue for the years ended December 31, 2019 and 2018, respectively. Revenue on these contracts is recognized when obligations under the terms of the contract with our customer are satisfied; generally this occurs with the transfer of control upon shipment.

Revenue from products and services transferred to customers over time accounted for 27% and 28% of our revenue for the years ended December 31, 2019 and 2018, respectively. For the majority of our revenue recognized over time, we use an input measure to determine progress towards completion. Under this method, sales and gross profit are recognized as work is performed generally based on the relationship between the actual costs incurred and the total estimated costs at completion ("the cost-to-cost method") or based on efforts for measuring progress towards completion in situations in which this approach is more representative of the progress on the contract than the cost-to-cost method. Contract costs include labor, material, overhead and, when appropriate, general and administrative expenses. Changes to the original estimates may be required during the life of the contract and such estimates are reviewed on a regular basis. Sales and gross profit are adjusted using the cumulative catch-up method for revisions in estimated total contract costs. These reviews have not resulted in adjustments that were significant to our results of operations. For performance obligations related to long-term contracts, when estimates of total costs to be incurred on a performance obligation exceed total estimates of revenue to be earned, a provision for the entire loss on the performance obligation is recognized in the period the loss is determined.

We use an output method to measure progress towards completion for certain of our Enclosures businesses, as this method appropriately depicts performance towards satisfaction of the performance obligation. Under the output method, revenue is recognized based on number of units produced.

We apply a practical expedient to expense incremental costs of obtaining a contract when incurred because the amortization period would be less than one year. These costs primarily relate to sales commissions and are recorded in Selling, general and administrative expense in the Consolidated and Combined Statements of Operations and Comprehensive Income. Further, we do not adjust the promised amount of consideration for the effects of a significant financing component if we expect, at contract inception, that the period between when we transfer a promised good or service to a customer and when the customer pays for that good or service will be less than one year.

Sales returns

The right of return may exist explicitly or implicitly with our customers. Our return policy allows for customer returns only upon our authorization. Goods returned must be product we continue to market and must be in salable condition. When the right of return exists, we adjust the transaction price for the estimated effect of returns. We estimate the expected returns based on historical sales levels, the timing and magnitude of historical sales return levels as a percent of sales, type of product, type of customer and a projection of this experience into the future.

Pricing and sales incentives

Our sales contracts may give customers the option to purchase additional goods or services priced at a discount. This can come in many forms, such as customer programs and incentive offerings including pricing arrangements, promotions and other volume-based incentives.

We reduce the transaction price for certain customer programs and incentive offerings including pricing arrangements, promotions and other volume-based incentives that represent variable consideration. Sales incentives given to our customers are recorded using either the expected value method or most likely amount approach for estimating the amount of consideration to which nVent shall be entitled. The expected value is the sum of probability-weighted amounts in a range of possible consideration amounts. An expected value is an appropriate estimate of the amount of variable consideration when there are a large number of contracts with similar characteristics. The most likely amount is the single most likely amount in a range of possible consideration amounts (that is, the single most likely outcome of the contract). The most likely amount is an appropriate estimate of the amount of variable consideration if the contract has limited possible outcomes (for example, an entity either achieves a performance bonus or does not).

Pricing is established at or prior to the time of sale with our customers and we record sales at the agreed-upon net selling price. However, certain of our businesses allow customers to apply for a refund of a percentage of the original purchase price if they can demonstrate sales to a qualifying end customer. We use the expected value method to estimate the anticipated refund to be paid based on historical experience and the transaction price is reduced for the probable cost of the discount.

Volume-based incentives involve rebates that are negotiated at or prior to the time of sale with the customer and are redeemable only if the customer achieves a specified cumulative level of sales or sales increase. Under these incentive programs, at the time of sale, we estimate the anticipated rebate to be paid based on forecasted sales levels. These forecasts are updated at least quarterly for each customer and the transaction price is reduced for the anticipated cost of the rebate. If the forecasted sales for a customer changes, the accrual for rebates is adjusted to reflect the new amount of rebates expected to be earned by the customer.

Shipping and handling costs

Amounts billed to customers for shipping and handling activities after the customer obtains control are treated as a promised service performance obligation and recorded in Net sales in the Consolidated and Combined Statements of Operations and Comprehensive Income. Shipping and handling costs incurred by nVent for the delivery of goods to customers are considered a cost to fulfill the contract and are included in Cost of goods sold in the Consolidated and Combined Statements of Operations and Comprehensive Income.

Contract assets and liabilities

Contract assets consist of unbilled amounts resulting from sales under long-term contracts when the cost-to-cost method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer, such as when the customer retains a small portion of the contract price until completion of the contract. We typically receive interim payments on sales under long-term contracts as work progresses, although for some contracts, we may be entitled to receive an advance payment. Contract liabilities consist of advanced payments and billings in excess of costs incurred and deferred revenue.

Contract assets are recorded within Other current assets and contract liabilities are recorded within Other current liabilities in the Consolidated Balance Sheets.

Research and development

We conduct research and development (“R&D”) activities in our own facilities, which consist primarily of the development of new products, product applications and manufacturing processes.

Cash equivalents

We consider highly liquid investments with original maturities of three months or less at the date of acquisition to be cash equivalents.

Trade receivables and concentration of credit risk

We record an allowance for doubtful accounts, reducing our receivables balance to an amount we estimate is collectible from our customers. Estimates used in determining the allowance for doubtful accounts are based on current trends, aging of accounts receivable, periodic credit evaluations of our customers' financial condition and historical collection experience. We generally do not require collateral. No customer receivable balances exceeded 10% of total net receivable balances as of December 31, 2019 or 2018.

Inventories

Inventories are stated at the lower of cost or net realizable value with substantially all inventories recorded using the first-in, first-out ("FIFO") cost method.

Property, plant and equipment, net

Property, plant and equipment is stated at historical cost. We compute depreciation by the straight-line method based on the following estimated useful lives:



	Years
Land improvements	5 to 20
Buildings and leasehold improvements	5 to 50
Machinery and equipment	3 to 15

Significant improvements that add to productive capacity or extend the lives of properties are capitalized. Costs for repairs and maintenance are charged to expense as incurred. When property is retired or otherwise disposed of, the recorded cost of the assets and their related accumulated depreciation are removed from the Consolidated Balance Sheets and any related gains or losses are included in income.

We review the recoverability of long-lived assets to be held and used, such as property, plant and equipment, when events or changes in circumstances occur that indicate the carrying value of the asset or asset group may not be recoverable. The assessment of possible impairment is based on our ability to recover the carrying value of the asset or asset group from the expected future pre-tax cash flows (undiscounted and without interest charges) of the related operations. If these cash flows are less than the carrying value of such asset or asset group, an impairment loss is recognized for the difference between estimated fair value and carrying value. Impairment losses on long-lived assets held for sale are determined in a similar manner, except that fair values are reduced for the cost to dispose of the assets. The measurement of impairment requires us to estimate future cash flows and the fair value of long-lived assets. We recorded no material impairment charges in 2019, 2018 or 2017.

The following table presents geographic Property, plant and equipment, net by region as of December 31:



In millions	2019		2018
U.S. & Canada	$	160.7	$	159.6
Mexico	42.1		39.7
EMEA ⁽¹⁾	75.0		58.1
Rest of World ⁽²⁾	6.7		7.4
Consolidated	$	284.5	$	264.8
⁽¹⁾ EMEA includes Europe, Middle East and Africa
⁽²⁾Rest of World includes Latin America and Asia-Pacific

Goodwill and identifiable intangible assets

Goodwill

Goodwill represents the excess of the cost of acquired businesses over the net of the fair value of identifiable tangible net assets and identifiable intangible assets purchased and liabilities assumed.

Goodwill is tested annually for impairment and is tested for impairment more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test is performed using a two-step process. In the first step, the fair value of each reporting unit is compared with the carrying amount of the reporting unit, including goodwill. If the estimated fair value is less than the carrying amount of the reporting unit there is an indication that goodwill impairment exists and a second step must be completed in order to determine the amount of the goodwill impairment, if any, which should be recorded. In the second step, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation.

The fair value of each reporting unit is determined using a discounted cash flow analysis and market approach. Projecting discounted future cash flows requires us to make significant estimates regarding future revenues and expenses, projected capital expenditures, changes in working capital and the appropriate discount rate. Use of the market approach consists of comparisons to comparable publicly-traded companies that are similar in size and industry. Actual results may differ from those used in our valuations. The non-recurring fair value measurement is a Level 3 measurement under the fair value hierarchy described below.

In developing our discounted cash flow analysis, assumptions about future revenues and expenses, capital expenditures and changes in working capital are based on our annual operating plan and long-term business plan for each of our reporting units. These plans take into consideration numerous factors including historical experience, anticipated future economic conditions, changes in raw material prices and growth expectations for the industries and end markets we participate in.

In estimating fair value using the market approach, we identify a group of comparable publicly-traded companies for each reporting unit that are similar in terms of size and product offering. These groups of comparable companies are used to develop multiples based on total market-based invested capital as a multiple of earnings before interest, taxes, depreciation and amortization (“EBITDA”). We determine our estimated values by applying these comparable EBITDA multiples to the operating results of our reporting units. The ultimate fair value of each reporting unit is determined considering the results of both valuation methods.

We did not recognize any goodwill impairment losses in 2019, 2018, or 2017.

Identifiable intangible assets

Our primary identifiable intangible assets include customer relationships, trade names, proprietary technologies and patents. Identifiable intangibles with definite lives are amortized and those identifiable intangibles with indefinite lives are not amortized. Identifiable intangible assets that are subject to amortization are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Identifiable intangible assets not subject to amortization are tested for impairment annually or more frequently if events warrant. We complete our annual impairment test during the fourth quarter each year for those identifiable assets not subject to amortization.

The impairment test for trade names consists of a comparison of the fair value of the trade name with its carrying value. Fair value is measured using the relief-from-royalty method. This method assumes the trade name has value to the extent that the owner is relieved of the obligation to pay royalties for the benefits received from them. This method requires us to estimate the future revenue for the related brands, the appropriate royalty rate and the weighted average cost of capital. The non-recurring fair value measurement is a Level 3 measurement under the fair value hierarchy described below.

There were no impairment charges recorded in 2019 or 2018 for identifiable intangible assets. During 2017, an impairment charge of $16.4 million was recorded related to certain trade names in Electrical & Fastening Solutions and Thermal Management. The impairment charge was recorded in Selling, general and administrative expense in our Consolidated and Combined Statements of Operations and Comprehensive Income.

Income taxes

We use the asset and liability approach to account for income taxes. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of differences between the carrying amounts of assets and liabilities and their respective tax bases using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period when the change is enacted. We maintain valuation allowances unless it is more likely than not that all or a portion of the deferred tax assets will be realized. Changes in valuation allowances from period to period are included in our tax provision in the period of change. We recognize the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is more likely than not to be realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.

Pension and other post-retirement plans

We sponsor defined-benefit pension plans and a post-retirement health plan. The pension and other post-retirement benefit costs for these plans are determined from actuarial assumptions and methodologies, including discount rates and expected returns on plan assets. These assumptions are updated annually and are disclosed in Note 12.

For periods prior to the separation, certain nVent employees participated in defined benefit pension plans and post-retirement health plans sponsored by the former Parent. For purposes of these consolidated and combined financial statements, nVent accounted for these plans as multi-employer benefit plans. Accordingly, nVent did not record an asset or liability to recognize the funded status of these plans. However, nVent did record its share of the allocated expense, including net actuarial gains or losses described below.

We recognize changes in the fair value of plan assets and net actuarial gains or losses for pension and other post-retirement benefits annually in the fourth quarter each year (“mark-to-market adjustment”) and, if applicable, in any quarter in which an interim remeasurement is triggered. Net actuarial gains and losses occur when the actual experience differs from any of the various assumptions used to value our pension and other post-retirement plans or when assumptions change, as they may each year. The remaining components of pension expense, including service and interest costs and estimated return on plan assets, are recorded on a quarterly basis.

Earnings per ordinary share

Basic earnings per share are computed by dividing net income by the weighted-average number of ordinary shares outstanding. Diluted earnings per share are computed by dividing net income by the weighted-average number of ordinary shares outstanding including the dilutive effects of ordinary share equivalents.

Derivative financial instruments

We recognize all derivatives, including those embedded in other contracts, as either assets or liabilities at fair value in our Consolidated Balance Sheets. If the derivative is designated and is effective as a cash-flow hedge, the effective portion of changes in the fair value of the derivative are recorded in Accumulated other comprehensive loss ("AOCI") as a separate component of equity in the Consolidated Balance Sheets and are recognized in the Consolidated and Combined Statements of Operations and Comprehensive Income when the hedged item affects earnings. For a derivative that is not designated as or does not qualify as a hedge, changes in fair value are reported in earnings immediately.

Gains and losses on net investment hedges are included in AOCI as a separate component of equity in the Consolidated Balance Sheets.

We use derivative instruments for the purpose of hedging interest rate and currency exposures, which exist as part of ongoing business operations. We do not hold or issue derivative financial instruments for trading or speculative purposes. All other contracts that contain provisions meeting the definition of a derivative also meet the requirements for the normal purchases and normal sales scope exception. Our policy is not to enter into contracts with terms that cannot be designated as normal purchases or sales. From time to time, we may enter into short duration foreign currency contracts to hedge foreign currency risks.

Fair value measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are classified using the following hierarchy, which is based upon the transparency of inputs to the valuation as of the measurement date:

Level 1: Valuation is based on observable inputs such as quoted market prices (unadjusted) for identical assets or liabilities in active markets.

Level 2: Valuation is based on inputs such as quoted market prices for similar assets or liabilities in active markets or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

Level 3: Valuation is based upon other unobservable inputs that are significant to the fair value measurement.

In making fair value measurements, observable market data must be used when available. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement.

Foreign currency translation

The financial statements of subsidiaries located outside of the U.S. are generally measured using the local currency as the functional currency, except for certain corporate entities outside of the U.S. which are measured using USD. Assets and liabilities of these subsidiaries are translated at the rates of exchange at the balance sheet date. Income and expense items are translated at average monthly rates of exchange. The resultant translation adjustments are included in AOCI as a separate component of equity.

Adoption of new accounting standards

On January 1, 2019, we adopted Accounting Standards Update ("ASU") No. 2016-02, “Leases” using the alternative transition method and did not recast comparative periods in transition to the new standard. In addition, we elected the package of practical expedients permitted under the transition guidance, which among other things, allowed us to carry forward the historical lease classification. We also elected to apply the practical expedient to not separate non-lease components from the lease components for all leases. Accordingly, all costs associated with a lease contract are accounted for as lease cost. In addition, we did not elect to apply the hindsight practical expedient. Adoption of the new standard resulted in the recording of additional right-of-use assets and lease liabilities of $44.2 million, as of January 1, 2019. The adoption of the standard did not have a material impact on our Consolidated and Combined Statements of Operations and Comprehensive Income or our Consolidated and Combined Statements of Cash Flows. We implemented internal controls and key system functionality to enable the preparation of financial information upon adoption.

On January 1, 2018, we adopted ASU No. 2014-09, "Revenue from Contracts with Customers" and the related amendments (the "new revenue standard") using the modified retrospective method. As a result of adoption, the cumulative impact to our beginning equity at January 1, 2018 was $1.8 million. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. We expect the impact of the adoption of the new standard to be immaterial to our net income on an ongoing basis. The adoption of the new standard had an impact on our accounting for certain custom products manufactured by our Enclosures segment. Prior to the adoption of the standard revenue was recognized for these custom products upon shipment. However, as these products have no alternative use to the Company and we have an enforceable right to payment for our performance completed to date, revenue related to these custom products are now recognized over time. Additionally, the new revenue standard resulted in reclassifications on the Consolidated Balance Sheets related to accounting for sales returns. The impact of adoption of the new revenue standard on our Consolidated and Combined Statements of Operations and Comprehensive Income and Consolidated Balance Sheets was not material.

On January 1, 2018, we adopted ASU No. 2017-07, "Retirement Benefits-Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost." As a result of the adoption, the interest cost, expected return on plan assets and net actuarial gain/loss components of net periodic pension and post-retirement benefit cost have been reclassified from Selling, general and administrative expense to Other expense. Only the service cost component remains in Operating income and will be eligible for capitalization in assets on a prospective basis. The effect of the retrospective presentation change related to the net periodic cost of our defined benefit pension and other post-retirement plans on our Consolidated and Combined Statements of Operations and Comprehensive Income was a reclassification of $2.6 million of pension and post-retirement expense for the year ended December 31, 2017, from Selling, general and administrative expense to Other expense.

On January 1, 2018, we adopted ASU No. 2016-16, "Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory" using the modified retrospective method. The ASU requires the tax effects of all intra-entity sales of assets other than inventory to be recognized in the period in which the transaction occurs. The adoption resulted in a $174.5 million cumulative-effect adjustment recorded in equity as of the beginning of 2018 that reflects a $201.5 million reduction of non-current prepaid income tax assets, partially offset by the establishment of $27.0 million of deferred tax assets.

The cumulative effect of the changes made to our January 1, 2018 Combined Balance Sheets from the modified retrospective adoption of ASU 2016-16 and ASU 2014-09 was as follows:



Combined Balance Sheets
In millions	Balance at December 31, 2017		Adjustments due to ASU 2016-16			Adjustments due to ASU 2014-09			Balance at January 1, 2018
Assets
Accounts and notes receivable, net	$	349.3	$	—		$	3.8		$	353.1
Inventories	224.1		—			(1.8		)	222.3
Other current assets	132.3		—			1.8			134.1
Other non-current assets	251.8		(174.5		)	—			77.3
Liabilities
Other current liabilities	141.3		—			3.8			145.1
Deferred tax liabilities	279.4		—			0.4			279.8
Equity
Net Parent investment	3,848.4		(174.5		)	1.8			3,675.7

Revenue

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of revenue

We disaggregate our revenue from contracts with customers by geographic location and vertical market, as we believe these best depict how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors.

Geographic net sales information, based on geographic destination of the sale, was as follows:



	Year ended December 31, 2019
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
U.S. and Canada	$	715.5	$	351.9	$	414.7	$	1,482.1
Developed Europe ⁽¹⁾	212.5		136.3		109.3		458.1
Developing ⁽²⁾	92.5		87.7		42.0		222.2
Other Developed ⁽³⁾	13.3		14.7		13.6		41.6
Total	$	1,033.8	$	590.6	$	579.6	$	2,204.0



	Year ended December 31, 2018
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
U.S. and Canada	$	704.3	$	351.4	$	397.8	$	1,453.5
Developed Europe ⁽¹⁾	202.7		174.4		110.8		487.9
Developing ⁽²⁾	101.0		80.9		47.1		229.0
Other Developed ⁽³⁾	11.7		16.5		15.0		43.2
Total	$	1,019.7	$	623.2	$	570.7	$	2,213.6
⁽¹⁾ Developed Europe includes Western Europe and Eastern Europe included in European Union.
⁽²⁾ Developing includes China, Eastern Europe not included in European Union, Latin America, Middle East and Southeast Asia.
⁽³⁾ Other Developed includes Australia and Japan.

Vertical net sales information was as follows:



	Year ended December 31, 2019
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
Industrial	$	623.2	$	224.5	$	114.7	$	962.4
Commercial & Residential	113.2		186.2		338.1		637.5
Energy	103.4		171.4		55.2		330.0
Infrastructure	194.0		8.5		71.6		274.1
Total	$	1,033.8	$	590.6	$	579.6	$	2,204.0



	Year ended December 31, 2018
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
Industrial	$	626.1	$	263.0	$	112.7	$	1,001.8
Commercial & Residential	87.5		187.7		329.7		604.9
Energy	103.4		166.9		52.1		322.4
Infrastructure	202.7		5.6		76.2		284.5
Total	$	1,019.7	$	623.2	$	570.7	$	2,213.6

Contract balances

Contract assets and liabilities consisted of the following:



In millions	December 31, 2019		December 31, 2018		$ Change			% Change
Contract assets	$	69.4	$	74.4	$	(5.0	)	(6.7	%)
Contract liabilities	13.7		13.2		0.5			3.8	%
Net contract assets	$	55.7	$	61.2	$	(5.5	)	(9.0	%)



In millions	December 31, 2018		January 1, 2018		$ Change			% Change
Contract assets	$	74.4	$	69.9	$	4.5		6.4	%
Contract liabilities	13.2		14.3		(1.1		)	(7.7	%)
Net contract assets	$	61.2	$	55.6	$	5.6		10.1	%

The $5.5 million decrease in net contract assets from December 31, 2018 to December 31, 2019 and the $5.6 million increase in net contract assets from January 1, 2018 to December 31, 2018 were primarily the result of timing of milestone payments. The majority of our contract liabilities at December 31, 2018 and January 1, 2018 were recognized in revenue as of December 31, 2019 and December 31, 2018, respectively. There were no impairment losses recognized on our contract assets for the twelve months ended December 31, 2019 and 2018.

Remaining performance obligations

We have elected the practical expedient to disclose only the value of remaining performance obligations for contracts with an original expected length of one year or more. On December 31, 2019, we had $79.0 million of remaining performance obligations on contracts with original expected duration of one year or more. We expect to recognize the majority of our remaining performance obligations on these contracts within the next twelve to eighteen months.

Restructuring

12 Months Ended

Dec. 31, 2019

Restructuring and Related Activities [Abstract]

Restructuring

During 2019, 2018 and 2017, we initiated and continued execution of certain business restructuring initiatives aimed at reducing our fixed cost structure and realigning our business. Initiatives during the years ended December 31, 2019, 2018 and 2017, respectively, included a reduction in hourly and salaried headcount of approximately 425, 50 and 250 employees.

Restructuring related costs included in Selling, general and administrative expense in the Consolidated and Combined Statements of Operations and Comprehensive Income included costs for severance and other restructuring costs as follows:



	Years ended December 31
In millions	2019		2018		2017
Severance and related costs	$	19.6	$	7.3	$	16.0
Other	2.3		0.4		0.8
Total restructuring costs	$	21.9	$	7.7	$	16.8

Restructuring costs by reportable segment were as follows:



	Years ended December 31
In millions	2019		2018		2017
Enclosures	$	5.3	$	1.3	$	6.7
Thermal Management	6.6		2.8		7.5
Electrical & Fastening Solutions	2.2		1.9		2.6
Other	7.8		1.7		—
Consolidated	$	21.9	$	7.7	$	16.8

Activity related to accrued severance and related costs recorded in Other current liabilities in the Consolidated Balance Sheets is summarized as follows:



	Years ended December 31
In millions	2019			2018
Beginning balance	$	3.8		$	5.1
Costs incurred	19.6			7.3
Cash payments and other	(13.9		)	(8.6		)
Ending balance	$	9.5		$	3.8

Earnings Per Share

12 Months Ended

Dec. 31, 2019

Earnings Per Share, Basic and Diluted [Abstract]

Earnings Per Share

On April 30, 2018, Pentair completed the separation of its Electrical business, distributing to its shareholders one ordinary share of nVent for every ordinary share of Pentair held as of the record date of April 17, 2018. The computations of basic and diluted earnings per share for periods prior to the separation were calculated using the shares that were distributed to Pentair shareholders upon the separation.

Basic and diluted earnings per share were calculated as follows:



	Years ended December 31
In millions, except per share data	2019		2018		2017
Net income	$	222.7	$	230.8	$	361.7
Weighted average ordinary shares outstanding
Basic	171.6		178.6		179.0
Dilutive impact of stock options, restricted stock units and performance share units	1.4		2.2		2.2
Diluted	173.0		180.8		181.2
Earnings per ordinary share
Basic earnings per ordinary share	$	1.30	$	1.29	$	2.02
Diluted earnings per ordinary share	$	1.29	$	1.28	$	2.00
Anti-dilutive stock options excluded from the calculation of diluted earnings per share	2.1		1.0		0.4

Acquisitions (Notes)	12 Months Ended
Acquisitions (Notes)	Dec. 31, 2019
Business Combinations [Abstract]
Acquisitions	Acquisitions On August 30, 2019, we completed the acquisition of Eldon Holding AB ("Eldon") for $127.8 million, net of cash acquired. Eldon, now part of our Enclosures segment, is an innovative European based manufacturer of enclosures that protect sensitive electrical, electronic and data and telecommunications components. The purchase price was funded primarily through borrowings under our Revolving Credit Facility (as defined in note 9). The excess purchase price over tangible net assets and identified intangible assets acquired has been preliminarily allocated to goodwill in the amount of $45.1 million, none of which is expected to be deductible for income tax purposes. Identifiable intangible assets acquired included $46.7 million of definite-lived customer relationships with an estimated useful life of 17 years. During the quarter ended December 31, 2019, we further refined certain income tax and working capital accounts resulting in a $9.1 million decrease in goodwill compared to the preliminary provisional value that was recorded at September 30, 2019. The preliminary purchase price allocation is subject to further refinement, primarily related to the impacts associated with income taxes and other accruals, and may require significant adjustments to arrive at the final purchase price allocation. Eldon's net sales for the period from the acquisition date to December 31, 2019 were $30.6 million. The pro forma impact of the acquisition is not material. On February 10, 2020, we acquired substantially all of the assets of WBT LLC ("WBT") for approximately $30.0 million in cash, subject to purchase price adjustments and holdbacks. WBT is a U.S. based manufacturer of high-quality cable tray that will be marketed as part of the nVent CADDY product line within our Electrical and Fastening Solutions segment.

Goodwill and Other Identifiable Intangible Assets

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Identifiable Intangible Assets

6. Goodwill and Other Identifiable Intangible Assets

The changes in the carrying amount of goodwill by reportable segment were as follows:



In millions	December 31, 2018		Acquisitions/ divestitures		Foreign currency translation/other			December 31, 2019
Enclosures	$	272.0	$	45.1	$	(1.7	)	$	315.4
Thermal Management	924.1		—		1.4			925.5
Electrical & Fastening Solutions	1,038.2		—		—			1,038.2
Total goodwill	$	2,234.3	$	45.1	$	(0.3	)	$	2,279.1



In millions	December 31, 2017		Acquisitions/ divestitures		Foreign currency translation/other			December 31, 2018
Enclosures	$	274.8	$	—	$	(2.8	)	$	272.0
Thermal Management	927.1		—		(3.0		)	924.1
Electrical & Fastening Solutions	1,036.3		1.9		—			1,038.2
Total goodwill	$	2,238.2	$	1.9	$	(5.8	)	$	2,234.3

Identifiable intangible assets consisted of the following at December 31:



	2019							2018
In millions	Cost		Accumulated amortization			Net		Cost		Accumulated amortization			Net
Definite-life intangibles
Customer relationships	$	1,197.9	$	(326.1	)	$	871.8	$	1,149.7	$	(266.4	)	$	883.3
Proprietary technologies and patents	14.8		(7.4		)	7.4		14.8		(6.1		)	8.7
Total definite-life intangibles	1,212.7		(333.5		)	879.2		1,164.5		(272.5		)	892.0
Indefinite-life intangibles
Trade names	281.3		—			281.3		281.3		—			281.3
Total intangibles	$	1,494.0	$	(333.5	)	$	1,160.5	$	1,445.8	$	(272.5	)	$	1,173.3

Identifiable intangible asset amortization expense in 2019, 2018 and 2017 was $61.4 million, $60.9 million and $61.4 million, respectively.

There were no impairment charges recorded in 2019 or 2018. In 2017, we recorded impairment charges for trade name intangible assets of $16.4 million.

Estimated future amortization expense for identifiable intangible assets during the next five years is as follows:



In millions	2020		2021		2022		2023		2024
Estimated amortization expense	$	63.2	$	62.0	$	61.9	$	61.7	$	61.1

Supplemental Balance Sheet Information

12 Months Ended

Dec. 31, 2019

Disclosure Supplemental Balance Sheet Information [Abstract]

Supplemental Balance Sheet Information



	December 31
In millions	2019		2018
Inventories
Raw materials and supplies	$	67.1	$	63.1
Work-in-process	25.6		25.3
Finished goods	152.0		139.8
Total inventories	$	244.7	$	228.2
Other current assets
Contract assets	$	69.4	$	74.4
Prepaid expenses	32.5		31.7
Prepaid income taxes	9.0		9.1
Other current assets	2.4		3.2
Total other current assets	$	113.3	$	118.4
Property, plant and equipment, net
Land and land improvements	$	40.6	$	39.1
Buildings and leasehold improvements	181.6		172.6
Machinery and equipment	440.4		410.8
Construction in progress	16.5		14.6
Total property, plant and equipment	679.1		637.1
Accumulated depreciation and amortization	394.6		372.3
Total property, plant and equipment, net	$	284.5	$	264.8
Other non-current assets
Deferred compensation plan assets	$	17.3	$	23.1
Lease right-of-use assets	44.2		—
Deferred tax assets	40.9		4.6
Other non-current assets	15.1		6.1
Total other non-current assets	$	117.5	$	33.8
Other current liabilities
Dividends payable	$	29.7	$	31.0
Accrued rebates	44.1		46.1
Contract liabilities	13.7		13.2
Accrued taxes payable	24.8		27.4
Current lease liabilities	14.7		—
Other current liabilities	58.7		69.3
Total other current liabilities	$	185.7	$	187.0
Other non-current liabilities
Income taxes payable	$	31.9	$	41.9
Deferred compensation plan liabilities	17.3		23.1
Non-current lease liabilities	33.7		—
Other non-current liabilities	10.6		7.0
Total other non-current liabilities	$	93.5	$	72.0

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2019

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

Components of AOCI consist of the following at December 31:



In millions	2019			2018
Cumulative translation adjustments	$	(100.5	)	$	(105.3	)
Change in market value of derivative financial instruments, net of tax	1.9			(2.5		)
Accumulated other comprehensive loss	$	(98.6	)	$	(107.8	)

Debt

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Debt

Debt and the average interest rates on debt outstanding were as follows:



In millions	Average interest rate at	Maturity year	December 31
In millions	December 31, 2019	Maturity year	2019			2018
Revolving credit facility	3.174%	2023	$	134.6		$	—
Senior notes - fixed rate	3.950%	2023	300.0			300.0
Senior notes - fixed rate	4.550%	2028	500.0			500.0
Term loan facility	3.160%	2023	135.0			147.5
Unamortized issuance costs and discounts	N/A	N/A	(5.0		)	(5.8		)
Total debt			1,064.6			941.7
Less: Current maturities and short-term borrowings			(17.5		)	(12.5		)
Long-term debt			$	1,047.1		$	929.2

Senior notes

In March 2018, nVent Finance S.à r.l. (“nVent Finance” or "Subsidiary Issuer"), a 100-percent owned subsidiary of nVent, issued $300.0 million aggregate principal amount of 3.950% senior notes due 2023 (the "2023 Notes") and $500.0 million aggregate principal amount of 4.550% senior notes due 2028 (the "2028 Notes" and, collectively with the 2023 Notes, the "Notes"). Interest on the Notes is payable semi-annually in arrears on April 15 and October 15 of each year.

The Notes are fully and unconditionally guaranteed as to payment by the Parent Company Guarantor. There are no subsidiaries that guarantee the Notes. The Parent Company Guarantor has no independent assets or operations unrelated to its investments in its consolidated subsidiaries. The Subsidiary Issuer has no independent assets or operations unrelated to its investments in its consolidated subsidiaries and the issuance of the Notes and other external debt.

The Notes constitute general unsecured senior obligations of the Subsidiary Issuer and rank equally in right of payment with all existing and future unsubordinated and unsecured indebtedness and liabilities of the Subsidiary Issuer. The guarantees of the Notes by the Parent Company Guarantor constitute general unsecured obligations of the Parent Company Guarantor and rank equally in right of payment with all existing and future unsubordinated and unsecured indebtedness and liabilities of the Subsidiary Issuer. Subject to certain qualifications and exceptions, the indenture pursuant to which the Notes were issued contains covenants that, among other things, restrict nVent’s, nVent Finance’s and certain subsidiaries’ ability to merge or consolidate with another person, create liens or engage in sale and lease-back transactions.

There are no significant restrictions on the ability of nVent to obtain funds from its subsidiaries by dividend or loan. None of the assets of nVent or its subsidiaries represents restricted net assets pursuant to the guidelines established by the Securities and Exchange Commission.

Senior credit facilities

In March 2018, nVent Finance entered into a credit agreement with a syndicate of banks providing for a five-year $200.0 million senior unsecured term loan facility (the "Term Loan Facility") and a five-year $600.0 million senior unsecured revolving credit facility (the "Revolving Credit Facility" and, together with the Term Loan Facility, the "Senior Credit Facilities"). We have the option to request to increase the Revolving Credit Facility in an aggregate amount of up to $300.0 million, subject to customary conditions, including the commitment of the participating lenders. Total availability under the Revolving Credit Facility was $465.4 million as of December 31, 2019.

Our debt agreements contain certain financial covenants, the most restrictive of which are in the Senior Credit Facilities, including that we may not permit (i) the ratio of our consolidated debt (net of our consolidated unrestricted cash in excess of $5.0 million but not to exceed $250.0 million) to our consolidated net income (excluding, among other things, non-cash gains and losses) before interest, taxes, depreciation, amortization and non-cash share-based compensation expense ("EBITDA") on the last day of any period of four consecutive fiscal quarters to exceed 3.75 to 1.00 and (ii) the ratio of our EBITDA to our consolidated interest expense for the same period to be less than 3.00 to 1.00. In addition, subject to certain qualifications and exceptions, the Senior Credit Facilities also contain covenants that, among other things, restrict our ability to create liens, merge or consolidate with another person, make acquisitions and incur subsidiary debt. As of December 31, 2019, we were in compliance with all financial covenants in our debt agreements.

Debt outstanding at December 31, 2019, excluding unamortized issuance costs and discounts, matures on a calendar year basis as follows:



In millions	2020		2021		2022		2023		2024		Thereafter		Total
Contractual debt obligation maturities	$	17.5	$	20.0	$	20.0	$	512.1	$	—	$	500.0	$	1,069.6

Derivatives and Financial Instruments

12 Months Ended

Dec. 31, 2019

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]

Derivatives and Financial Instruments

Derivative financial instruments

We are exposed to market risk related to changes in foreign currency exchange rates. To manage the volatility related to this exposure, we periodically enter into a variety of derivative financial instruments. Our objective is to reduce, where it is deemed appropriate to do so, fluctuations in earnings and cash flows associated with changes in foreign currency exchange rates. The derivative contracts contain credit risk to the extent that our bank counterparties may be unable to meet the terms of the agreements. The amount of such credit risk is generally limited to the unrealized gains, if any, in such contracts. Such risk is minimized by limiting those counterparties to major financial institutions of high credit quality.

Foreign currency contracts

We conduct business in various locations throughout the world and are subject to market risk due to changes in the value of foreign currencies in relation to our reporting currency, the U.S. dollar. We manage our economic and transaction exposure to certain market-based risks through the use of foreign currency derivative financial instruments. Our objective in holding these derivatives is to reduce the volatility in net earnings and cash flows associated with changes in foreign currency rates. The majority of our foreign currency contracts have an original maturity date of less than one year.

At December 31, 2019 and 2018, we had outstanding foreign currency derivative contracts with gross notional U.S. dollar equivalent amounts of $34.5 million and $28.4 million, respectively. The impact of these contracts on the Consolidated and Combined Statements of Operations and Comprehensive Income (Loss) was not material for any period presented.

Cross currency swaps

At December 31, 2019 and 2018, we had outstanding cross currency swap agreements with a combined notional amount of $303.5 million and $169.7 million, respectively. The agreements are accounted for as either cash flow hedges, to hedge foreign currency fluctuations on certain intercompany debt, or as net investment hedge, to manage our exposure to fluctuations in the Euro-U.S. Dollar exchange rate. The impact of the foreign currency activity in AOCI associated with the cross currency swaps was not material for any period presented.

Fair value of financial instruments

The following methods were used to estimate the fair values of each class of financial instrument:


•	short-term financial instruments (cash and cash equivalents, accounts and notes receivable, accounts and notes payable and variable-rate debt) — recorded amount approximates fair value because of the short maturity period;


•	long-term fixed-rate debt, including current maturities — fair value is based on market quotes available for issuance of debt with similar terms, which are inputs that are classified as Level 2 in the valuation hierarchy defined by the accounting guidance;


•	foreign currency contract agreements — fair values are determined through the use of models that consider various assumptions, including time value, yield curves, as well as other relevant economic measures, which are observable inputs that are classified as Level 2 in the valuation hierarchy defined by the accounting guidance; and

•

deferred compensation plan assets (mutual funds, common/collective trusts and cash equivalents for payment of certain non-qualified benefits for retired, terminated and active employees) — fair value of mutual funds and cash equivalents are based on quoted market prices in active markets that are classified as Level 1 in the valuation hierarchy defined by the accounting guidance; fair value of common/collective trusts are valued at net asset value ("NAV"), which is based on the fair value of the underlying securities owned by the fund divided by the number of shares outstanding.

The recorded amounts and estimated fair values of total debt, excluding unamortized issuance costs and discounts, at December 31 were as follows:



	2019				2018
In millions	Recorded Amount		Fair Value		Recorded Amount		Fair Value
Variable rate debt	$	269.6	$	269.6	$	147.5	$	147.5
Fixed rate debt	800.0		863.5		800.0		793.5
Total debt	$	1,069.6	$	1,133.1	$	947.5	$	941.0

Financial assets and liabilities measured at fair value on a recurring basis at December 31 were as follows:



Recurring fair value measurements	2019
In millions	Level 1		Level 2			Level 3		NAV		Total
Foreign currency contract liabilities	$	—	$	(3.4	)	$	—	$	—	$	(3.4	)
Foreign currency contract assets	—		7.6			—		—		7.6
Deferred compensation plan assets	12.8		—			—		4.5		17.3
Total recurring fair value measurements	$	12.8	$	4.2		$	—	$	4.5	$	21.5



Recurring fair value measurements	2018
In millions	Level 1		Level 2			Level 3		NAV		Total
Foreign currency contract liabilities	$	—	$	(2.6	)	$	—	$	—	$	(2.6	)
Deferred compensation plan assets	19.1		—			—		4.0		23.1
Total recurring fair value measurements	$	19.1	$	(2.6	)	$	—	$	4.0	$	20.5

Income Taxes

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income Taxes

Income before income taxes consisted of the following:



	Years ended December 31
In millions	2019			2018			2017
Federal ⁽¹⁾	$	(21.1	)	$	(20.4	)	$	(19.9	)
International ⁽²⁾	278.5			289.1			333.2
Income before income taxes	$	257.4		$	268.7		$	313.3


⁽¹⁾	"Federal" reflects United Kingdom ("U.K.") income before income taxes.


⁽²⁾	"International" reflects non-U.K. income before income taxes.

The provision for income taxes consisted of the following:



	Years ended December 31
In millions	2019			2018			2017
Currently payable
Federal ⁽¹⁾	$	—		$	—		$	1.0
International ⁽²⁾	55.6			47.0			94.5
Total current taxes	55.6			47.0			95.5
Deferred
International ⁽²⁾	(20.9		)	(9.1		)	(143.9		)
Total deferred taxes	(20.9		)	(9.1		)	(143.9		)
Total provision (benefit) for income taxes	$	34.7		$	37.9		$	(48.4	)


⁽¹⁾	"Federal" represents U.K. taxes.


⁽²⁾	"International" represents non-U.K. taxes.

Reconciliations of the federal statutory income tax rate to our effective tax rate were as follows:



	Years ended December 31
Percentages	2019		2018		2017
Federal statutory income tax rate ⁽¹⁾	19.0	%	19.0	%	19.3	%
Tax effect of international operations ⁽²⁾	(1.8	)	(5.8	)	(5.9	)
Change in valuation allowances	(3.6	)	0.9		(2.2	)
Non-deductible transaction costs	—		—		0.5
Excess tax benefits on stock-based compensation	(0.1	)	—		(0.1	)
Tax effect of U.S. tax reform	—		—		(27.0	)
Effective tax rate	13.5	%	14.1	%	(15.4	%)


⁽¹⁾	The statutory rate for 2019, 2018 and 2017 reflects the U.K. statutory rate of 19.0%, 19.0% and 19.3%, respectively.


⁽²⁾	The tax effect of international operations consists of non-U.K. jurisdictions.

Reconciliations of the beginning and ending gross unrecognized tax benefits were as follows:



	Years ended December 31
In millions	2019			2018			2017
Beginning balance	$	16.8		$	24.6		$	26.6
Gross increases for tax positions in prior periods	0.3			2.3			1.2
Gross decreases for tax positions in prior periods	(1.3		)	(1.6		)	(2.2		)
Gross increases based on tax positions related to the current year	1.8			1.2			1.3
Gross decreases related to settlements with taxing authorities	(0.2		)	(8.0		)	(2.3		)
Reductions due to statute expiration	(0.1		)	(1.9		)	(1.3		)
Gross increases (decreases) due to currency fluctuations	(0.3		)	0.2			1.3
Ending balance	$	17.0		$	16.8		$	24.6

We record gross unrecognized tax benefits in Other current liabilities and Other non-current liabilities in the Consolidated Balance Sheets. Included in the $17.0 million of total gross unrecognized tax benefits as of December 31, 2019 was $15.7 million of tax benefits that, if recognized, would impact the effective tax rate. It is reasonably possible that the gross unrecognized tax benefits as of December 31, 2019 may decrease by a range of zero to $3.0 million during 2020, primarily as a result of the resolution of non-U.K. examinations and the expiration of various statutes of limitations.

Based on the outcome of tax examinations, or as a result of the expiration of statute of limitations for specific jurisdictions, it is reasonably possible that certain unrecognized tax benefits for tax positions taken on previously filed tax returns will materially change from those recorded as liabilities in our financial statements. A number of tax periods from 2008 to present are under audit by tax authorities in various jurisdictions, including Canada, China, France, Germany and Romania. We anticipate that several of these audits may be concluded in the foreseeable future.

We record penalties and interest related to unrecognized tax benefits in Provision (benefit) for income taxes and Net interest expense, respectively, in the Consolidated and Combined Statements of Operations and Comprehensive Income. As of December 31, 2019 and 2018, we have liabilities of $1.7 million and $1.7 million, respectively, for the possible payment of penalties and $3.0 million and $2.7 million, respectively, for the possible payment of interest expense, which are recorded in Other current liabilities in the Consolidated Balance Sheets.

No additional income taxes have been provided for any undistributed foreign earnings or outside basis difference inherent in subsidiaries as these amounts continue to be indefinitely reinvested in foreign operations.

Deferred taxes arise because of different treatment between financial statement accounting and tax accounting, known as "temporary differences." We record the tax effect of these temporary differences as "deferred tax assets" (generally items that can be used as a tax deduction or credit in future periods) and "deferred tax liabilities" (generally items for which we received a tax deduction but the tax impact has not yet been recorded in the Consolidated and Combined Statements of Operations and Comprehensive Income).

Deferred taxes were recorded in the Consolidated Balance Sheets at December 31 as follows:



In millions	2019		2018
Other non-current assets	$	40.9	$	4.6
Deferred tax liabilities	237.8		224.8
Net deferred tax liabilities	$	196.9	$	220.2

The tax effects of the major items recorded as deferred tax assets and liabilities at December 31 were as follows:



In millions	2019		2018
Deferred tax assets
Accrued liabilities and reserves	$	10.4	$	10.6
Pension and other post-retirement compensation and benefits	36.9		26.8
Employee compensation and benefits	11.8		12.8
Tax loss and credit carryforwards	138.1		143.0
Interest limitation	20.0		7.7
Other assets	9.0		—
Total deferred tax assets	226.2		200.9
Valuation allowance	125.3		137.8
Deferred tax assets, net of valuation allowance	100.9		63.1
Deferred tax liabilities
Property, plant and equipment	17.6		15.3
Goodwill and other intangibles	262.2		260.4
Other liabilities	18.0		7.6
Total deferred tax liabilities	297.8		283.3
Net deferred tax liabilities	$	196.9	$	220.2

Included in tax loss and credit carryforwards in the table above is a deferred tax asset of $3.1 million as of December 31, 2019 related to foreign tax credit carryover from the tax period ended December 31, 2017 and related to transition taxes. The entire amount is subject to a valuation allowance. The foreign tax credit is eligible for carryforward until the tax period ending December 31, 2027.

As of December 31, 2019, tax loss carryforwards of $460.7 million were available to offset future income. A valuation allowance of $117.0 million exists for deferred income tax benefits related to the tax loss carryforwards which may not be realized. We believe sufficient taxable income will be generated in the respective jurisdictions to allow us to fully recover the remainder of the tax losses. The tax losses relate to non-U.S. carryforwards which are subject to varying expiration periods. Non-U.S. carryforwards of $423.5 million are located in jurisdictions with unlimited tax loss carryforward periods, while the remainder will begin to expire in 2020.

On December 22, 2017, the Tax Cuts and Jobs Act of 2017 (the “Act”) was signed into law making significant changes to the Internal Revenue Code. Changes include, but are not limited to, a corporate tax rate decrease from 35% to 21% effective for tax years beginning after December 31, 2017, the transition of U.S international taxation from a worldwide tax system to a territorial system and a one-time transition tax on the mandatory deemed repatriation of cumulative foreign earnings as of December 31, 2017.

We recorded an income tax benefit of $84.8 million in the fourth quarter of 2017, the period in which the legislation was enacted. The amount related to the remeasurement of certain deferred tax assets and liabilities based on the rates at which they are expected to reverse in the future was a decrease to income tax expense of $122.0 million. Upon completion of our analysis of the impact of the Act, there were no adjustments to the amount recorded at December 31, 2017.

The amount related to the one-time transition tax on the mandatory deemed repatriation of foreign earnings was an increase to income tax expense of $32.9 million, which represents a decrease of $4.3 million compared to the provisional amount recorded at December 31, 2017.

Benefit Plans

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

Benefit Plans

Pension and other post-retirement plans

We sponsor U.S. and non-U.S. defined-benefit pension and other post-retirement plans ("Direct Plans"). The defined benefit pension plans cover certain non-U.S. employees and retirees, and the pension benefits are based principally on an employee's years of service and/or compensation levels near retirement. In addition, we provide certain post-retirement health care and life insurance benefits. Generally, the post-retirement health care and life insurance plans require contributions from retirees.

For periods prior to the separation, certain nVent employees participated in defined benefit pension plans and post-retirement health plans sponsored by the former Parent. For purposes of these consolidated and combined financial statements, nVent accounted for these plans as multi-employer benefit plans. Accordingly, the Company did not record an asset or liability to recognize the funded status of these plans. However, for periods prior to the separation, the Company recorded expense attributable to its employees who participate in these plans, as well as expense allocated for the former Parent’s corporate and shared functional employees. The total allocated expense was $2.7 million and $11.1 million for the years ended December 31, 2018 and 2017, respectively.

The following information is applicable to only Direct Plans.

Obligations and funded status

The following tables present reconciliations of plan benefit obligations, fair value of plan assets and the funded status of pension plans and other post-retirement plans as of and for the years ended December 31, 2019 and 2018:



	Pension plans						Post-retirement health plan
In millions	2019			2018			2019			2018
Change in benefit obligations
Benefit obligation beginning of year	$	199.5		$	195.3		$	16.2		$	18.2
Service cost	5.9			5.8			0.1			0.1
Interest cost	4.0			4.2			0.6			0.6
Benefit obligations from new plans	—			1.6			—			—
Plan settlements	(0.5		)	—			—			—
Actuarial loss (gain)	27.3			5.0			1.5			(2.0		)
Foreign currency translation	(4.2		)	(8.0		)	—			—
Benefits paid	(5.0		)	(4.4		)	(1.1		)	(0.7		)
Plan transfer	(16.2		)	—			—			—
Benefit obligation end of year	$	210.8		$	199.5		$	17.3		$	16.2
Change in plan assets
Fair value of plan assets beginning of year	$	41.8		$	42.2		$	—		$	—
Actual return on plan assets	3.0			(0.6		)	—			—
Assets from new plans	—			0.7			—			—
Company contributions	5.2			6.1			1.1			0.6
Plan settlements	(0.5		)	—			—			—
Foreign currency translation	0.4			(2.2		)	—			—
Benefits paid	(5.0		)	(4.4		)	(1.1		)	(0.6		)
Plan transfer	(16.2		)	—			—			—
Fair value of plan assets end of year	$	28.7		$	41.8		$	—		$	—
Funded status
Fair value of plan assets end of year	$	28.7		$	41.8		$	—		$	—
Benefit obligation end of year	210.8			199.5			17.3			16.2
Benefit obligations in excess of the fair value of plan assets	$	(182.1	)	$	(157.7	)	$	(17.3	)	$	(16.2	)

In the fourth quarter of 2019, we transferred all of our remaining benefit obligations and plan assets attributed to a pension plan in the U.K. to a third-party insurance company purchased through an annuity contract. The transfer of benefit obligations and plan assets are reflected in the Plan transfer lines in the table above.

Amounts recorded in the Consolidated Balance Sheets at December 31 were as follows:



	Pension plans						Post-retirement health plan
In millions	2019			2018			2019			2018
Other non-current assets	$	1.7		$	1.0		$	—		$	—
Current liabilities	(3.7		)	(3.8		)	(1.2		)	(1.2		)
Non-current liabilities	(180.1		)	(154.9		)	(16.1		)	(15.0		)
Benefit obligations in excess of the fair value of plan assets	$	(182.1	)	$	(157.7	)	$	(17.3	)	$	(16.2	)

The accumulated benefit obligation for all defined benefit plans was $199.5 million and $191.2 million at December 31, 2019 and 2018, respectively.

Information for pension plans with an accumulated benefit obligation or projected benefit obligation in excess of plan assets as of December 31 was as follows:



	Projected benefit obligation exceeds the fair value of plan assets				Accumulated benefit obligation exceeds the fair value of plan assets
In millions	2019		2018		2019		2018
Projected benefit obligation	$	198.3	$	188.7	$	198.3	$	185.8
Fair value of plan assets	14.6		30.0		14.6		27.4
Accumulated benefit obligation	N/A		N/A		187.1		177.8

Components of net periodic benefit expense for our pension plans were as follows:



	Years ended December 31
In millions	2019			2018			2017
Service cost	$	5.9		$	5.8		$	6.3
Interest cost	4.0			4.2			4.0
Expected return on plan assets	(1.1		)	(1.4		)	(1.4		)
Net actuarial loss (gain)	25.4			7.5			(6.8		)
Net periodic benefit expense	$	34.2		$	16.1		$	2.1

Components of net periodic benefit expense for our post-retirement plan for the years ended December 31, 2019, 2018 and 2017, were not material.

Assumptions

Weighted-average assumptions used to determine benefit obligations as of December 31 were as follows:



	Pension plans						Post-retirement health plan
Percentages	2019		2018		2017		2019		2018		2017
Discount rate	1.54	%	2.25	%	2.25	%	3.08	%	4.10	%	3.40	%
Rate of compensation increase	2.97	%	2.97	%	2.98	%	—		—		—

Weighted-average assumptions used to determine net periodic benefit expense for years ended December 31 were as follows:



	Pension plans						Post-retirement health plan
Percentages	2019		2018		2017		2019		2018		2017
Discount rate	2.25	%	2.25	%	2.06	%	4.10	%	3.40	%	3.80	%
Expected long-term return on plan assets	4.15	%	3.45	%	3.38	%	—		—		—
Rate of compensation increase	2.97	%	2.98	%	2.97	%	—		—		—

Uncertainty in the securities markets and U.S. economy could result in investment returns less than those assumed. Should the securities markets decline or medical and prescription drug costs increase at a rate greater than assumed, we would expect increasing annual combined net pension and other post-retirement costs for the next several years. Should actual experience differ from actuarial assumptions, the projected pension benefit obligation and net pension cost and accumulated other post-retirement benefit obligation and other post-retirement benefit cost would be affected in future years.

Discount rates

The discount rate reflects the current rate at which the pension liabilities could be effectively settled at the end of the year based on our December 31 measurement date. The discount rates on our pension plans ranged from 0.25% to 3.25%, 0.50% to 4.25% and 0.50% to 3.50% in 2019, 2018 and 2017, respectively. The discount rates are determined by matching high-quality, fixed-income debt instruments with maturities corresponding to the expected timing of benefit payments as of the annual measurement date for each of the various plans. There are no known or anticipated changes in our discount rate assumptions that will materially impact our pension expense in 2020.

Expected rates of return

The expected rates of return on our pension plan assets ranged from 1.00% to 5.25%, 1.00% to 5.50% and 1.00% to 5.50% in 2019, 2018 and 2017, respectively. The expected rate of return is designed to be a long-term assumption that may be subject to considerable year-to-year variance from actual returns. In developing the expected long-term rate of return, we considered our historical returns, with consideration given to forecasted economic conditions, our asset allocations, input from external consultants and broader longer-term market indices. Any difference in the expected rate and actual returns will be included with the actuarial gain or loss recorded in the fourth quarter when our plans are remeasured.

Pension plans assets

Objective

The primary objective of our investment strategy is to meet the pension obligation to our employees at a reasonable cost to us. This is primarily accomplished through growth of capital and safety of the funds invested.

Asset allocation

The majority of our pension plan assets are invested in fixed income and equity securities which is consistent with our investment policy goals. Actual investments for our pension plans as of December 31 were as follows:



	Actual
Percentages	2019		2018
Equity securities	43	%	23	%
Fixed income	42	%	65	%
Alternative investments	11	%	8	%
Cash equivalents	4	%	4	%

Fair value measurement

The fair values of our pension plan assets as of December 31 were as follows:



In millions	2019		2018
Cash equivalents	$	1.2	$	1.5
Fixed income:
Corporate and non U.S. government	11.9		27.1
Other investments (alternative investments)	3.1		3.5
Total investments at fair value	$	16.2	$	32.1
Investments measured at net asset value (equity securities)	12.5		9.7
Total	$	28.7	$	41.8

Valuation methodologies used for investments measured at fair value, each of which is classified as Level 2 in the fair value hierarchy, were as follows:


•	cash equivalents — Cash equivalents consist of investments in commingled funds valued based on observable market data.

•

fixed income — Investments in corporate bonds, government securities, mortgages and asset backed securities were valued based upon quoted market prices for similar securities and other observable market data. Investments in commingled funds were generally valued at the net asset value of units held at the end of the period based upon the value of the underlying investments as determined by quoted market prices or by a pricing service.


•	other investments — Other investments include investments in commingled funds with diversified investment strategies. Investments in commingled funds were valued at the net asset value of units held at the end of the period based upon the value of the underlying investments as determined by quoted market prices or by a pricing service.

Cash flows

Contributions

Pension contributions to the Direct Plans totaled $5.2 million and $6.1 million in 2019 and 2018, respectively. The 2020 expected contributions will equal or exceed our minimum funding requirements of $6.7 million.

Estimated future benefit payments

The following benefit payments, which reflect expected future service or payout from termination, as appropriate, are expected to be paid by the plans for the years ended December 31 as follows:



In millions	Pension plans		Post-retirement health plan
2020	$	4.6	$	1.2
2021	5.0		1.2
2022	7.4		1.2
2023	5.2		1.2
2024	6.9		1.2
Thereafter	37.2		5.3

Savings plan

Effective January 1, 2019, nVent established and is the plan sponsor of a 401(k) retirement plan (nVent Management Company Retirement Savings and Incentive Plan or "401(k) plan") and employee share ownership plan (nVent Electric plc Employee Stock Purchase and Bonus Plan). The 401(k) plan covers certain union and all non-union U.S. employees who met certain age requirements. Under the 401(k) plan, eligible U.S. employees could voluntarily contribute a percentage of their eligible compensation and we match contributions made by employees who met certain eligibility and service requirements. The eligibility criteria and benefits provided by the plans sponsored by nVent are consistent with the provisions of the plans sponsored by the former Parent. During 2019, the matching contribution was 100% of eligible employee contributions for the first 5% of eligible contributions contributed as pre-tax contribution. Expense for the 401(k) plan was $10.9 million in 2019.

During 2018 and 2017, certain U.S. nVent employees were eligible to participate in a 401(k) plan with an employee share ownership ("ESOP") bonus component, sponsored by the former Parent. During 2017, the matching contribution was 100% of eligible employee contributions for the first 1% of eligible compensation and 50% of the next 5% of eligible compensation. In addition to the matching contribution, all employees who met certain service requirements received a discretionary ESOP contribution equal to 1.5% of annual eligible compensation. During 2018, the matching contribution was 100% of eligible employee contributions for the first 5% of eligible contributions contributed as pre-tax contribution. Expense was $10.5 million in 2018, and the allocated expense for the Company was $7.1 million in 2017.

Shareholders' Equity	12 Months Ended
Shareholders' Equity	Dec. 31, 2019
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders' Equity Authorized shares Our authorized share capital consists of 400.0 million ordinary shares with a par value of $0.01 per share. Share repurchases On July 23, 2018, the Board of Directors authorized the repurchase of our ordinary shares up to a maximum dollar limit of $500.0 million (the "2018 Authorization"). On February 19, 2019, the Board of Directors authorized the repurchase of our ordinary shares up to a maximum dollar limit of $380.0 million (the "2019 Authorization"). The 2018 and 2019 Authorizations expire on July 23, 2021. During the year ended December 31, 2018, we repurchased 2.4 million of our ordinary shares for $59.0 million under the 2018 authorization. During the year ended December 31, 2019, we repurchased 9.0 million of our ordinary shares for $232.7 million under the 2018 Authorization. As of December 31, 2019 and 2018, outstanding share repurchases recorded in Accounts payable were zero and $3.0 million, respectively. As of December 31, 2019, we had $588.3 million available for repurchases under the 2018 and 2019 Authorizations, which totaled $880.0 million. Dividends Dividends paid per ordinary share were $0.70 and $0.35 for the years ended December 31, 2019 and 2018, respectively. On December 10, 2019, the Board of Directors declared a quarterly cash dividend of $0.175 that was paid on February 7, 2020 to shareholders of record at the close of business on January 24, 2020. The balance of dividends payable included in Other current liabilities on our Consolidated Balance Sheets was $29.7 million and $31.0 million at December 31, 2019 and 2018, respectively. On February 25, 2020, the Board of Directors declared a quarterly cash dividend of $0.175 per ordinary share payable on May 8, 2020 to shareholders of record at the close of business on April 24, 2020.

Segment Information

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Segment Information

We classify our operations into the following business segments based primarily on types of products offered and markets served:

•

Enclosures — The Enclosures segment provides inventive solutions that protect, connect and manage heat in critical electronics, communication, control, and power equipment. From metallic and non-metallic enclosures to cabinets, subracks and backplanes, it offers the physical infrastructure to host, connect and protect server and network equipment, as well as indoor and outdoor protection for test and measurement, aerospace and defense applications in industrial, infrastructure, energy and commercial verticals.

•

Thermal Management —The Thermal Management segment provides electric thermal solutions that connect and protect critical buildings, infrastructure, industrial processes and people. Its thermal management systems include heat tracing, floor heating, fire-rated and specialty wiring, sensing and snow melting and de-icing solutions for use in industrial, commercial & residential, energy and infrastructure verticals. It's highly reliable and easy to install solutions lower total cost of ownership to building owners, facility managers, operators and end users.

•

Electrical & Fastening Solutions — The Electrical & Fastening Solutions segment provides fastening solutions that connect and protect electrical and mechanical systems and civil structures. Its engineered electrical and fastening products are innovative cost efficient and labor saving connections that are used across a wide range of verticals, including commercial, industrial, infrastructure and energy.

Other — Other is primarily composed of unallocated corporate expenses, our captive insurance subsidiary and intermediate finance companies.

The accounting policies of our reporting segments are the same as those described in the summary of significant accounting policies. We evaluate performance based on the net sales and segment income (loss) and use a variety of ratios to measure performance of our reporting segments. These results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented. Segment income (loss) represents operating income exclusive of intangible amortization, separation costs, costs of restructuring activities, "mark-to-market" gain/loss for pension and other post-retirement plans, impairments and other unusual non-operating items.

Financial information by reportable segment is included in the following summary:



	Net sales						Segment income (loss)
In millions	2019		2018		2017		2019			2018			2017
Enclosures	$	1,033.8	$	1,019.7	$	934.9	$	181.3		$	174.8		$	164.6
Thermal Management	590.6		623.2		622.2		145.3			154.2			147.3
Electrical & Fastening Solutions	579.6		570.7		540.8		149.7			144.5			140.7
Other	—		—		—		(52.0		)	(49.1		)	(29.6		)
Consolidated	$	2,204.0	$	2,213.6	$	2,097.9	$	424.3		$	424.4		$	423.0

No customer accounted for more than 10% of net sales in 2019, 2018, or 2017.



	Identifiable assets						Depreciation
In millions	2019		2018		2017		2019		2018		2017
Enclosures	$	787.0	$	665.9	$	672.3	$	16.1	$	15.9	$	16.0
Thermal Management	1,543.7		1,557.1		1,800.9		7.9		8.6		8.7
Electrical & Fastening Solutions	2,129.3		2,157.7		2,189.0		9.1		10.1		9.6
Other	180.3		172.0		62.8		2.3		1.6		2.2
Consolidated	$	4,640.3	$	4,552.7	$	4,725.0	$	35.4	$	36.2	$	36.5



	Capital expenditures
In millions	2019		2018		2017
Enclosures	$	15.3	$	13.3	$	21.7
Thermal Management	6.8		5.1		4.9
Electrical & Fastening Solutions	13.3		7.9		5.2
Other	3.4		13.2		—
Consolidated	$	38.8	$	39.5	$	31.8

The following table presents a reconciliation of consolidated and combined segment income to consolidated and combined income before income taxes for the years ended December 31:



In millions	2019			2018			2017
Segment income	$	424.3		$	424.4		$	423.0
Restructuring and other	(24.2		)	(7.7		)	(13.0		)
Intangible amortization	(61.4		)	(60.9		)	(61.4		)
Pension and other post-retirement mark-to-market (loss) gain	(27.3		)	(7.0		)	3.0
Acquisition transaction and integration costs	(2.4		)	—			—
Inventory step-up amortization	(3.2		)	—			—
Trade name impairment	—			—			(16.4		)
Separation costs	—			(45.0		)	(16.1		)
Interest expense, net	(44.7		)	(31.2		)	(0.2		)
Other expense	(3.7		)	(3.9		)	(5.6		)
Income before income taxes	$	257.4		$	268.7		$	313.3

Leases (Notes)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Leases

We have operating leases for office space, production facilities, distribution centers, warehouses, sales offices, fleet vehicles and equipment. In accordance with our accounting policy, leases with an initial term of 12 months or less are not recognized on the balance sheet; we recognize lease expense for these leases on a straight-line basis over the lease term. We elected the practical expedient for all leases to include both lease and non-lease components within our lease assets and lease liabilities.

Our lease agreements do not contain any material residual value guarantees, any material bargain purchase options or material restrictive covenants. We have no material sublease arrangements with third parties or lease transactions with related parties.

During the years ended December 31, 2019, 2018 and 2017, rent expense was $19.8 million, $15.8 million and $17.6 million, respectively, primarily related to operating lease costs. Costs associated with short-term leases, variable rent and subleases were immaterial.

Our leases have remaining lease terms of one to ten years, some of which include options to extend the leases for up to five years. Renewal options that are reasonably certain to be exercised are included in the lease term. The incremental borrowing rate is used in determining the present value of lease payments, unless an implicit rate is specified. Incremental borrowing rates on a collateralized basis are determined based on the economic environment in which leases are denominated and the lease term. The weighted average remaining lease term and weighted average discount rate as of December 31, 2019 were as follows:



	December 31, 2019
Weighted average remaining lease term
Operating leases	5 years
Weighted average discount rate
Operating leases	4.0	%

Future lease payments under non-cancelable operating leases as of December 31, 2019 were as follows:



In millions
2020	$	16.7
2021	11.4
2022	7.5
2023	4.4
2024	3.5
Thereafter	10.9
Total lease payments	54.4
Less imputed interest	(6.0		)
Total reported lease liability	$	48.4

As of December 31, 2019, we have no material additional operating leases that have not yet commenced.

Future minimum lease commitments under non-cancelable operating leases based on accounting standards applicable as of December 31, 2018 were as follows:



In millions
2019	$	16.2
2020	12.6
2021	8.0
2022	5.6
2023	2.7
Thereafter	9.6
Total	$	54.7

Supplemental cash flow information related to operating leases was as follows:



	Year ended
In millions	December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities	$	18.0
Lease right-of-use assets obtained in exchange for new lease liabilities	15.5

Supplemental balance sheet information related to operating leases was as follows:



In millions	Classification	December 31, 2019		January 1, 2019
Assets
Lease right-of-use assets	Other non-current assets	$	44.2	$	44.2
Liabilities
Current lease liabilities	Other current liabilities	$	14.7	$	13.6
Non-current lease liabilities	Other non-current liabilities	33.7		34.8
Total lease liabilities		$	48.4	$	48.4

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Warranties and guarantees In connection with the disposition of our businesses or product lines, we may agree to indemnify purchasers for various potential liabilities relating to the sold business, such as pre-closing tax, product liability, warranty, environmental, or other obligations. The subject matter, amounts and duration of any such indemnification obligations vary for each type of liability indemnified and may vary widely from transaction to transaction. Generally, the maximum obligation under such indemnifications is not explicitly stated and as a result, the overall amount of these obligations cannot be reasonably estimated. Historically, we have not made significant payments for these indemnifications. We believe that if we were to incur a loss in any of these matters, the loss would not have a material effect on our financial position, results of operations or cash flows. We recognize, at the inception of a guarantee, a liability for the fair value of the obligation undertaken in issuing the guarantee. We provide service and warranty policies on our products. Liability under service and warranty policies is based upon a review of historical warranty and service claim experience. Adjustments are made to accruals as claim data and historical experience warrant. Our liability for service and product warranties as of December 31, 2019 and 2018 was not material. Stand-by letters of credit, bank guarantees and bonds In disposing of assets or businesses, we often provide representations, warranties and indemnities to cover various risks including unknown damage to the assets, environmental risks involved in the sale of real estate, liability to investigate and remediate environmental contamination at waste disposal sites and manufacturing facilities and unidentified tax liabilities and legal fees related to periods prior to disposition. We do not have the ability to reasonably estimate the potential liability due to the inchoate and unknown nature of these potential liabilities. However, we have no reason to believe that these uncertainties would have a material adverse effect on our financial position, results of operations or cash flows. In the ordinary course of business, we are required to commit to bonds, letters of credit and bank guarantees that require payments to our customers for any non-performance. The outstanding face value of these instruments fluctuates with the value of our projects in process and in our backlog. In addition, we issue financial stand-by letters of credit primarily to secure our performance to third parties under self-insurance programs. As of December 31, 2019 and 2018, the outstanding value of bonds, letters of credit and bank guarantees totaled $70.0 million and $75.8 million, respectively. Other matters We are subject to disputes, administrative proceedings and other claims arising out of the normal conduct of our business. These matters generally relate to disputes arising out of the use or installation of our products, product liability litigation, personal injury claims, commercial and contract disputes and employment related matters. On the basis of information currently available, management does not believe that existing proceedings and claims will have a material impact on our Consolidated and Combined Financial Statements. However, litigation is unpredictable, and we could incur judgments or enter into settlements for current or future claims that could adversely affect our financial statements.

Selected Quarterly Data (Unaudited)

12 Months Ended

Dec. 31, 2019

Selected Quarterly Financial Information [Abstract]

Selected Quarterly Data (Unaudited)

The following tables present 2019 and 2018 quarterly financial information:



	2019
In millions, except per-share data	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Full Year
Net sales	$	538.0	$	539.5	$	559.8	$	566.7	$	2,204.0
Gross profit	209.9		212.2		224.1		219.6		865.8
Operating income	77.5		87.0		86.1		82.5		333.1
Net income	56.4		60.9		59.9		45.5		222.7
Earnings per ordinary share ⁽¹⁾
Basic	$	0.32	$	0.36	$	0.35	$	0.27	$	1.30
Diluted	$	0.32	$	0.35	$	0.35	$	0.27	$	1.29



	2018
In millions, except per-share data	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Full Year
Net sales	$	538.9	$	542.7	$	563.9	$	568.1	$	2,213.6
Gross profit	208.9		219.4		229.1		218.7		876.1
Operating income	65.6		65.3		93.7		86.2		310.8
Net income	52.3		43.3		68.2		67.0		230.8
Earnings per ordinary share ⁽¹⁾
Basic	$	0.29	$	0.24	$	0.38	$	0.38	$	1.29
Diluted	$	0.29	$	0.24	$	0.38	$	0.37	$	1.28


⁽¹⁾	Amounts may not total to annual earnings because each quarter and year are calculated separately based on basic and diluted weighted-average ordinary shares outstanding during that period. The computations of basic and diluted earnings per share for periods prior to the separation were calculated using the shares that were distributed to Pentair shareholders upon the separation.

Fourth quarter 2019 includes a decrease in net income of $27.3 million related to a "mark-to-market" actuarial loss on pension and other post-retirement plans. First quarter 2018 includes $9.7 million of separation costs and $2.8 million of restructuring and other costs. Second quarter 2018 includes $24.8 million of separation costs and $2.3 million of restructuring and other costs.

Basis of Presentation and Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Basis of Presentation

Basis of presentation

The consolidated and combined financial statements have been prepared in U.S. dollars ("USD") and in accordance with accounting principles generally accepted in the United States of America ("GAAP"). Intercompany accounts and transactions have been eliminated.

The financial statements for periods prior to April 30, 2018 were prepared on a stand-alone basis derived from the consolidated financial statements and records of the former Parent as if nVent were operated on a stand-alone basis.

Cost allocations

For periods prior to the separation, the consolidated and combined financial statements of nVent include general corporate expenses of the former Parent for certain support functions that were provided on a centralized basis, such as expenses related to executive management, finance, audit, legal, information technology, human resources, communications, facilities and employee benefits and compensation. These general corporate expenses are included in the Consolidated and Combined Statements of Operations and Comprehensive Income within Selling, general and administrative expense and Other expense. The amounts allocated were $42.5 million and $65.7 million for the years ended December 31, 2018 and 2017, respectively, of which $10.3 million and $31.0 million, respectively, were historically recorded to the Electrical segment in the former Parent’s consolidated financial statements. These expenses were allocated to nVent on the basis of direct usage when identifiable, with the remainder allocated based on a proportional basis of net sales, headcount or other measures.

The Company considers the allocation methodology regarding general corporate expenses of the former Parent to be reasonable for all periods presented. Nevertheless, the consolidated and combined financial statements of nVent for periods prior to the separation may not reflect the actual expenses that would have been incurred and may not reflect nVent’s consolidated and combined results of operations, financial position and cash flows had it been a stand-alone company during the periods presented. Actual costs for periods prior to the separation that would have been incurred if nVent had been a stand-alone company would depend on multiple factors including organization structure, capital structure and strategic decisions made in various areas, including information technology and infrastructure. Transactions between nVent and the former Parent have been included in related party transactions in these consolidated and combined financial statements and were considered to be effectively settled at the time the transaction was recorded. The total net effect of the settlement of these transactions is reflected in the Consolidated and Combined Statements of Cash Flows as a financing activity.

For periods prior to the separation, certain nVent operations were included in the former Parent's U.S. federal and state income tax returns and substantially all income taxes on those operations have been paid by the former Parent. Income tax expense and other income tax related information contained in these consolidated and combined financial statements for periods prior to the separation are presented on a separate return approach as if nVent filed its own tax returns. Under this approach, the provision for income taxes represented income tax paid or payable (or received or receivable) for the current year plus the change in deferred taxes during the year calculated as if nVent was a stand-alone taxpayer filing hypothetical income tax returns where applicable. Current income tax liabilities were assumed to be immediately settled with the former Parent and relieved through the Net Parent investment account and the Net transfers to former Parent in the Consolidated and Combined Statements of Cash Flows.

Fiscal Year

Fiscal year

Our fiscal year ends on December 31. We report our interim quarterly periods on a calendar quarter basis.

Use of Estimates

Use of estimates

The preparation of our consolidated and combined financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the amounts reported in these consolidated and combined financial statements and accompanying notes, disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates include our accounting for valuation of goodwill and indefinite lived intangible assets, estimated losses on accounts receivable, estimated realizable value on excess and obsolete inventory, percentage of completion revenue recognition, assets acquired and liabilities assumed in acquisitions, contingent liabilities, income taxes and pension and other post-retirement benefits. Actual results could differ from our estimates.

Revenue Recognition

Revenue recognition

Revenue is recognized when control of the promised goods or services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to in exchange for transferring those goods or providing services. We account for a contract when it has approval and commitment from both parties, the rights of the parties are identified, payment terms are identified, the contract has commercial substance and collectability of consideration is probable.

When determining whether the customer has obtained control of the goods or services, we consider any future performance obligations. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer, and is the unit of account in Accounting Standards Codification 606 - Revenue from Contracts with Customers. Generally, there is no post-shipment obligation on product sold other than warranty obligations in the normal and ordinary course of business.

Contract transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of our contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. For contracts with multiple performance obligations, stand-alone selling price is generally readily observable.

Our performance obligations are satisfied at a point in time or over time as work progresses. Revenue from products and services transferred to customers at a point in time accounted for 73% and 72% of our revenue for the years ended December 31, 2019 and 2018, respectively. Revenue on these contracts is recognized when obligations under the terms of the contract with our customer are satisfied; generally this occurs with the transfer of control upon shipment.

Revenue from products and services transferred to customers over time accounted for 27% and 28% of our revenue for the years ended December 31, 2019 and 2018, respectively. For the majority of our revenue recognized over time, we use an input measure to determine progress towards completion. Under this method, sales and gross profit are recognized as work is performed generally based on the relationship between the actual costs incurred and the total estimated costs at completion ("the cost-to-cost method") or based on efforts for measuring progress towards completion in situations in which this approach is more representative of the progress on the contract than the cost-to-cost method. Contract costs include labor, material, overhead and, when appropriate, general and administrative expenses. Changes to the original estimates may be required during the life of the contract and such estimates are reviewed on a regular basis. Sales and gross profit are adjusted using the cumulative catch-up method for revisions in estimated total contract costs. These reviews have not resulted in adjustments that were significant to our results of operations. For performance obligations related to long-term contracts, when estimates of total costs to be incurred on a performance obligation exceed total estimates of revenue to be earned, a provision for the entire loss on the performance obligation is recognized in the period the loss is determined.

We use an output method to measure progress towards completion for certain of our Enclosures businesses, as this method appropriately depicts performance towards satisfaction of the performance obligation. Under the output method, revenue is recognized based on number of units produced.

We apply a practical expedient to expense incremental costs of obtaining a contract when incurred because the amortization period would be less than one year. These costs primarily relate to sales commissions and are recorded in Selling, general and administrative expense in the Consolidated and Combined Statements of Operations and Comprehensive Income. Further, we do not adjust the promised amount of consideration for the effects of a significant financing component if we expect, at contract inception, that the period between when we transfer a promised good or service to a customer and when the customer pays for that good or service will be less than one year.

Sales returns

The right of return may exist explicitly or implicitly with our customers. Our return policy allows for customer returns only upon our authorization. Goods returned must be product we continue to market and must be in salable condition. When the right of return exists, we adjust the transaction price for the estimated effect of returns. We estimate the expected returns based on historical sales levels, the timing and magnitude of historical sales return levels as a percent of sales, type of product, type of customer and a projection of this experience into the future.

Pricing and sales incentives

Our sales contracts may give customers the option to purchase additional goods or services priced at a discount. This can come in many forms, such as customer programs and incentive offerings including pricing arrangements, promotions and other volume-based incentives.

We reduce the transaction price for certain customer programs and incentive offerings including pricing arrangements, promotions and other volume-based incentives that represent variable consideration. Sales incentives given to our customers are recorded using either the expected value method or most likely amount approach for estimating the amount of consideration to which nVent shall be entitled. The expected value is the sum of probability-weighted amounts in a range of possible consideration amounts. An expected value is an appropriate estimate of the amount of variable consideration when there are a large number of contracts with similar characteristics. The most likely amount is the single most likely amount in a range of possible consideration amounts (that is, the single most likely outcome of the contract). The most likely amount is an appropriate estimate of the amount of variable consideration if the contract has limited possible outcomes (for example, an entity either achieves a performance bonus or does not).

Pricing is established at or prior to the time of sale with our customers and we record sales at the agreed-upon net selling price. However, certain of our businesses allow customers to apply for a refund of a percentage of the original purchase price if they can demonstrate sales to a qualifying end customer. We use the expected value method to estimate the anticipated refund to be paid based on historical experience and the transaction price is reduced for the probable cost of the discount.

Volume-based incentives involve rebates that are negotiated at or prior to the time of sale with the customer and are redeemable only if the customer achieves a specified cumulative level of sales or sales increase. Under these incentive programs, at the time of sale, we estimate the anticipated rebate to be paid based on forecasted sales levels. These forecasts are updated at least quarterly for each customer and the transaction price is reduced for the anticipated cost of the rebate. If the forecasted sales for a customer changes, the accrual for rebates is adjusted to reflect the new amount of rebates expected to be earned by the customer.

Shipping and handling costs

Amounts billed to customers for shipping and handling activities after the customer obtains control are treated as a promised service performance obligation and recorded in Net sales in the Consolidated and Combined Statements of Operations and Comprehensive Income. Shipping and handling costs incurred by nVent for the delivery of goods to customers are considered a cost to fulfill the contract and are included in Cost of goods sold in the Consolidated and Combined Statements of Operations and Comprehensive Income.

Contract assets and liabilities

Contract assets consist of unbilled amounts resulting from sales under long-term contracts when the cost-to-cost method of revenue recognition is utilized and revenue recognized exceeds the amount billed to the customer, such as when the customer retains a small portion of the contract price until completion of the contract. We typically receive interim payments on sales under long-term contracts as work progresses, although for some contracts, we may be entitled to receive an advance payment. Contract liabilities consist of advanced payments and billings in excess of costs incurred and deferred revenue.

Contract assets are recorded within Other current assets and contract liabilities are recorded within Other current liabilities in the Consolidated Balance Sheets.

Research and Development

Research and development

We conduct research and development (“R&D”) activities in our own facilities, which consist primarily of the development of new products, product applications and manufacturing processes.

Cash Equivalents

Cash equivalents

We consider highly liquid investments with original maturities of three months or less at the date of acquisition to be cash equivalents.

Trade Receivables and Concentration of Credit Risk

Trade receivables and concentration of credit risk

We record an allowance for doubtful accounts, reducing our receivables balance to an amount we estimate is collectible from our customers. Estimates used in determining the allowance for doubtful accounts are based on current trends, aging of accounts receivable, periodic credit evaluations of our customers' financial condition and historical collection experience. We generally do not require collateral.

Inventories

2018.

Inventories

Inventories are stated at the lower of cost or net realizable value with substantially all inventories recorded using the first-in, first-out ("FIFO") cost method.

Property, Plant and Equipment, Net

.

Property, plant and equipment, net

Property, plant and equipment is stated at historical cost. We compute depreciation by the straight-line method based on the following estimated useful lives:



	Years
Land improvements	5 to 20
Buildings and leasehold improvements	5 to 50
Machinery and equipment	3 to 15

Significant improvements that add to productive capacity or extend the lives of properties are capitalized. Costs for repairs and maintenance are charged to expense as incurred. When property is retired or otherwise disposed of, the recorded cost of the assets and their related accumulated depreciation are removed from the Consolidated Balance Sheets and any related gains or losses are included in income.

We review the recoverability of long-lived assets to be held and used, such as property, plant and equipment, when events or changes in circumstances occur that indicate the carrying value of the asset or asset group may not be recoverable. The assessment of possible impairment is based on our ability to recover the carrying value of the asset or asset group from the expected future pre-tax cash flows (undiscounted and without interest charges) of the related operations. If these cash flows are less than the carrying value of such asset or asset group, an impairment loss is recognized for the difference between estimated fair value and carrying value. Impairment losses on long-lived assets held for sale are determined in a similar manner, except that fair values are reduced for the cost to dispose of the assets. The measurement of impairment requires us to estimate future cash flows and the fair value of long-lived assets.

Goodwill and identifiable intangible assets

Goodwill

Goodwill represents the excess of the cost of acquired businesses over the net of the fair value of identifiable tangible net assets and identifiable intangible assets purchased and liabilities assumed.

Goodwill is tested annually for impairment and is tested for impairment more frequently if events or changes in circumstances indicate that the asset might be impaired. The impairment test is performed using a two-step process. In the first step, the fair value of each reporting unit is compared with the carrying amount of the reporting unit, including goodwill. If the estimated fair value is less than the carrying amount of the reporting unit there is an indication that goodwill impairment exists and a second step must be completed in order to determine the amount of the goodwill impairment, if any, which should be recorded. In the second step, an impairment loss is recognized for any excess of the carrying amount of the reporting unit’s goodwill over the implied fair value of that goodwill. The implied fair value of goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation.

The fair value of each reporting unit is determined using a discounted cash flow analysis and market approach. Projecting discounted future cash flows requires us to make significant estimates regarding future revenues and expenses, projected capital expenditures, changes in working capital and the appropriate discount rate. Use of the market approach consists of comparisons to comparable publicly-traded companies that are similar in size and industry. Actual results may differ from those used in our valuations. The non-recurring fair value measurement is a Level 3 measurement under the fair value hierarchy described below.

In developing our discounted cash flow analysis, assumptions about future revenues and expenses, capital expenditures and changes in working capital are based on our annual operating plan and long-term business plan for each of our reporting units. These plans take into consideration numerous factors including historical experience, anticipated future economic conditions, changes in raw material prices and growth expectations for the industries and end markets we participate in.

In estimating fair value using the market approach, we identify a group of comparable publicly-traded companies for each reporting unit that are similar in terms of size and product offering. These groups of comparable companies are used to develop multiples based on total market-based invested capital as a multiple of earnings before interest, taxes, depreciation and amortization (“EBITDA”). We determine our estimated values by applying these comparable EBITDA multiples to the operating results of our reporting units. The ultimate fair value of each reporting unit is determined considering the results of both valuation methods.

We did not recognize any goodwill impairment losses in 2019, 2018, or 2017.

Identifiable intangible assets

Our primary identifiable intangible assets include customer relationships, trade names, proprietary technologies and patents. Identifiable intangibles with definite lives are amortized and those identifiable intangibles with indefinite lives are not amortized. Identifiable intangible assets that are subject to amortization are evaluated for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. Identifiable intangible assets not subject to amortization are tested for impairment annually or more frequently if events warrant. We complete our annual impairment test during the fourth quarter each year for those identifiable assets not subject to amortization.

The impairment test for trade names consists of a comparison of the fair value of the trade name with its carrying value. Fair value is measured using the relief-from-royalty method. This method assumes the trade name has value to the extent that the owner is relieved of the obligation to pay royalties for the benefits received from them. This method requires us to estimate the future revenue for the related brands, the appropriate royalty rate and the weighted average cost of capital. The non-recurring fair value measurement is a Level 3 measurement under the fair value hierarc

Income Taxes

Income taxes

We use the asset and liability approach to account for income taxes. Under this method, deferred tax assets and liabilities are recognized for the expected future tax consequences of differences between the carrying amounts of assets and liabilities and their respective tax bases using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period when the change is enacted. We maintain valuation allowances unless it is more likely than not that all or a portion of the deferred tax assets will be realized. Changes in valuation allowances from period to period are included in our tax provision in the period of change. We recognize the effect of income tax positions only if those positions are more likely than not to be sustained. Recognized income tax positions are measured at the largest amount that is more likely than not to be realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.

Pension and other post-retirement plans

We sponsor defined-benefit pension plans and a post-retirement health plan. The pension and other post-retirement benefit costs for these plans are determined from actuarial assumptions and methodologies, including discount rates and expected returns on plan assets. These assumptions are updated annually and are disclosed in Note 12.

For periods prior to the separation, certain nVent employees participated in defined benefit pension plans and post-retirement health plans sponsored by the former Parent. For purposes of these consolidated and combined financial statements, nVent accounted for these plans as multi-employer benefit plans. Accordingly, nVent did not record an asset or liability to recognize the funded status of these plans. However, nVent did record its share of the allocated expense, including net actuarial gains or losses described below.

We recognize changes in the fair value of plan assets and net actuarial gains or losses for pension and other post-retirement benefits annually in the fourth quarter each year (“mark-to-market adjustment”) and, if applicable, in any quarter in which an interim remeasurement is triggered. Net actuarial gains and losses occur when the actual experience differs from any of the various assumptions used to value our pension and other post-retirement plans or when assumptions change, as they may each year. The remaining components of pension expense, including service and interest costs and estimated return on plan assets, are recorded on a quarterly basis.

Earnings (Loss) Per Common Share

Earnings per ordinary share

Basic earnings per share are computed by dividing net income by the weighted-average number of ordinary shares outstanding. Diluted earnings per share are computed by dividing net income by the weighted-average number of ordinary shares outstanding including the dilutive effects of ordinary share equivalents.

Derivative Financial Instruments

Derivative financial instruments

We recognize all derivatives, including those embedded in other contracts, as either assets or liabilities at fair value in our Consolidated Balance Sheets. If the derivative is designated and is effective as a cash-flow hedge, the effective portion of changes in the fair value of the derivative are recorded in Accumulated other comprehensive loss ("AOCI") as a separate component of equity in the Consolidated Balance Sheets and are recognized in the Consolidated and Combined Statements of Operations and Comprehensive Income when the hedged item affects earnings. For a derivative that is not designated as or does not qualify as a hedge, changes in fair value are reported in earnings immediately.

Gains and losses on net investment hedges are included in AOCI as a separate component of equity in the Consolidated Balance Sheets.

We use derivative instruments for the purpose of hedging interest rate and currency exposures, which exist as part of ongoing business operations. We do not hold or issue derivative financial instruments for trading or speculative purposes. All other contracts that contain provisions meeting the definition of a derivative also meet the requirements for the normal purchases and normal sales scope exception. Our policy is not to enter into contracts with terms that cannot be designated as normal purchases or sales. From time to time, we may enter into short duration foreign currency contracts to hedge foreign currency risks.

Fair Value Measurements

Fair value measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities measured at fair value are classified using the following hierarchy, which is based upon the transparency of inputs to the valuation as of the measurement date:

Level 1: Valuation is based on observable inputs such as quoted market prices (unadjusted) for identical assets or liabilities in active markets.

Level 2: Valuation is based on inputs such as quoted market prices for similar assets or liabilities in active markets or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.

Level 3: Valuation is based upon other unobservable inputs that are significant to the fair value measurement.

In making fair value measurements, observable market data must be used when available. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement.

Foreign Currency Translation

Foreign currency translation

The financial statements of subsidiaries located outside of the U.S. are generally measured using the local currency as the functional currency, except for certain corporate entities outside of the U.S. which are measured using USD. Assets and liabilities of these subsidiaries are translated at the rates of exchange at the balance sheet date. Income and expense items are translated at average monthly rates of exchange. The resultant translation adjustments are included in AOCI as a separate component of equity.

New accounting standards

Adoption of new accounting standards

On January 1, 2019, we adopted Accounting Standards Update ("ASU") No. 2016-02, “Leases” using the alternative transition method and did not recast comparative periods in transition to the new standard. In addition, we elected the package of practical expedients permitted under the transition guidance, which among other things, allowed us to carry forward the historical lease classification. We also elected to apply the practical expedient to not separate non-lease components from the lease components for all leases. Accordingly, all costs associated with a lease contract are accounted for as lease cost. In addition, we did not elect to apply the hindsight practical expedient. Adoption of the new standard resulted in the recording of additional right-of-use assets and lease liabilities of $44.2 million, as of January 1, 2019. The adoption of the standard did not have a material impact on our Consolidated and Combined Statements of Operations and Comprehensive Income or our Consolidated and Combined Statements of Cash Flows. We implemented internal controls and key system functionality to enable the preparation of financial information upon adoption.

On January 1, 2018, we adopted ASU No. 2014-09, "Revenue from Contracts with Customers" and the related amendments (the "new revenue standard") using the modified retrospective method. As a result of adoption, the cumulative impact to our beginning equity at January 1, 2018 was $1.8 million. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods. We expect the impact of the adoption of the new standard to be immaterial to our net income on an ongoing basis. The adoption of the new standard had an impact on our accounting for certain custom products manufactured by our Enclosures segment. Prior to the adoption of the standard revenue was recognized for these custom products upon shipment. However, as these products have no alternative use to the Company and we have an enforceable right to payment for our performance completed to date, revenue related to these custom products are now recognized over time. Additionally, the new revenue standard resulted in reclassifications on the Consolidated Balance Sheets related to accounting for sales returns. The impact of adoption of the new revenue standard on our Consolidated and Combined Statements of Operations and Comprehensive Income and Consolidated Balance Sheets was not material.

On January 1, 2018, we adopted ASU No. 2017-07, "Retirement Benefits-Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost." As a result of the adoption, the interest cost, expected return on plan assets and net actuarial gain/loss components of net periodic pension and post-retirement benefit cost have been reclassified from Selling, general and administrative expense to Other expense. Only the service cost component remains in Operating income and will be eligible for capitalization in assets on a prospective basis. The effect of the retrospective presentation change related to the net periodic cost of our defined benefit pension and other post-retirement plans on our Consolidated and Combined Statements of Operations and Comprehensive Income was a reclassification of $2.6 million of pension and post-retirement expense for the year ended December 31, 2017, from Selling, general and administrative expense to Other expense.

On January 1, 2018, we adopted ASU No. 2016-16, "Accounting for Income Taxes: Intra-Entity Asset Transfers of Assets Other than Inventory" using the modified retrospective method. The ASU requires the tax effects of all intra-entity sales of assets other than inventory to be recognized in the period in which the transaction occurs. The adoption resulted in a $174.5 million cumulative-effect adjustment recorded in equity as of the beginning of 2018 that reflects a $201.5 million reduction of non-current prepaid income tax assets, partially offset by the establishment of $27.0 million of deferred tax assets.

The cumulative effect of the changes made to our January 1, 2018 Combined Balance Sheets from the modified retrospective adoption of ASU 2016-16 and ASU 2014-09 was as follows:



Combined Balance Sheets
In millions	Balance at December 31, 2017		Adjustments due to ASU 2016-16			Adjustments due to ASU 2014-09			Balance at January 1, 2018
Assets
Accounts and notes receivable, net	$	349.3	$	—		$	3.8		$	353.1
Inventories	224.1		—			(1.8		)	222.3
Other current assets	132.3		—			1.8			134.1
Other non-current assets	251.8		(174.5		)	—			77.3
Liabilities
Other current liabilities	141.3		—			3.8			145.1
Deferred tax liabilities	279.4		—			0.4			279.8
Equity
Net Parent investment	3,848.4		(174.5		)	1.8			3,675.7

Basis of Presentation and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Accounting Policies [Abstract]

Property, Plant and Equipment

Property, plant and equipment is stated at historical cost. We compute depreciation by the straight-line method based on the following estimated useful lives:



	Years
Land improvements	5 to 20
Buildings and leasehold improvements	5 to 50
Machinery and equipment	3 to 15

Long-lived Assets by Geographic Areas

The following table presents geographic Property, plant and equipment, net by region as of December 31:



In millions	2019		2018
U.S. & Canada	$	160.7	$	159.6
Mexico	42.1		39.7
EMEA ⁽¹⁾	75.0		58.1
Rest of World ⁽²⁾	6.7		7.4
Consolidated	$	284.5	$	264.8
⁽¹⁾ EMEA includes Europe, Middle East and Africa
⁽²⁾Rest of World includes Latin America and Asia-Pacific

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The cumulative effect of the changes made to our January 1, 2018 Combined Balance Sheets from the modified retrospective adoption of ASU 2016-16 and ASU 2014-09 was as follows:



Combined Balance Sheets
In millions	Balance at December 31, 2017		Adjustments due to ASU 2016-16			Adjustments due to ASU 2014-09			Balance at January 1, 2018
Assets
Accounts and notes receivable, net	$	349.3	$	—		$	3.8		$	353.1
Inventories	224.1		—			(1.8		)	222.3
Other current assets	132.3		—			1.8			134.1
Other non-current assets	251.8		(174.5		)	—			77.3
Liabilities
Other current liabilities	141.3		—			3.8			145.1
Deferred tax liabilities	279.4		—			0.4			279.8
Equity
Net Parent investment	3,848.4		(174.5		)	1.8			3,675.7

Revenue (Tables)

12 Months Ended

Dec. 31, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Geographic net sales information, based on geographic destination of the sale, was as follows:



	Year ended December 31, 2019
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
U.S. and Canada	$	715.5	$	351.9	$	414.7	$	1,482.1
Developed Europe ⁽¹⁾	212.5		136.3		109.3		458.1
Developing ⁽²⁾	92.5		87.7		42.0		222.2
Other Developed ⁽³⁾	13.3		14.7		13.6		41.6
Total	$	1,033.8	$	590.6	$	579.6	$	2,204.0



	Year ended December 31, 2018
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
U.S. and Canada	$	704.3	$	351.4	$	397.8	$	1,453.5
Developed Europe ⁽¹⁾	202.7		174.4		110.8		487.9
Developing ⁽²⁾	101.0		80.9		47.1		229.0
Other Developed ⁽³⁾	11.7		16.5		15.0		43.2
Total	$	1,019.7	$	623.2	$	570.7	$	2,213.6
⁽¹⁾ Developed Europe includes Western Europe and Eastern Europe included in European Union.
⁽²⁾ Developing includes China, Eastern Europe not included in European Union, Latin America, Middle East and Southeast Asia.
⁽³⁾ Other Developed includes Australia and Japan.

Vertical net sales information was as follows:



	Year ended December 31, 2019
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
Industrial	$	623.2	$	224.5	$	114.7	$	962.4
Commercial & Residential	113.2		186.2		338.1		637.5
Energy	103.4		171.4		55.2		330.0
Infrastructure	194.0		8.5		71.6		274.1
Total	$	1,033.8	$	590.6	$	579.6	$	2,204.0



	Year ended December 31, 2018
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
Industrial	$	626.1	$	263.0	$	112.7	$	1,001.8
Commercial & Residential	87.5		187.7		329.7		604.9
Energy	103.4		166.9		52.1		322.4
Infrastructure	202.7		5.6		76.2		284.5
Total	$	1,019.7	$	623.2	$	570.7	$	2,213.6

Contract with Customer, Asset and Liability

Contract assets and liabilities consisted of the following:



In millions	December 31, 2019		December 31, 2018		$ Change			% Change
Contract assets	$	69.4	$	74.4	$	(5.0	)	(6.7	%)
Contract liabilities	13.7		13.2		0.5			3.8	%
Net contract assets	$	55.7	$	61.2	$	(5.5	)	(9.0	%)



In millions	December 31, 2018		January 1, 2018		$ Change			% Change
Contract assets	$	74.4	$	69.9	$	4.5		6.4	%
Contract liabilities	13.2		14.3		(1.1		)	(7.7	%)
Net contract assets	$	61.2	$	55.6	$	5.6		10.1	%

Restructuring (Tables)

12 Months Ended

Dec. 31, 2019

Restructuring and Related Activities [Abstract]

Restructuring Related Costs

Restructuring related costs included in Selling, general and administrative expense in the Consolidated and Combined Statements of Operations and Comprehensive Income included costs for severance and other restructuring costs as follows:



	Years ended December 31
In millions	2019		2018		2017
Severance and related costs	$	19.6	$	7.3	$	16.0
Other	2.3		0.4		0.8
Total restructuring costs	$	21.9	$	7.7	$	16.8

Restructuring Costs By Segment [Table Text Block]

Restructuring costs by reportable segment were as follows:



	Years ended December 31
In millions	2019		2018		2017
Enclosures	$	5.3	$	1.3	$	6.7
Thermal Management	6.6		2.8		7.5
Electrical & Fastening Solutions	2.2		1.9		2.6
Other	7.8		1.7		—
Consolidated	$	21.9	$	7.7	$	16.8

Restructuring Accrual Activity Recorded on Consolidated Balance Sheets

Activity related to accrued severance and related costs recorded in Other current liabilities in the Consolidated Balance Sheets is summarized as follows:



	Years ended December 31
In millions	2019			2018
Beginning balance	$	3.8		$	5.1
Costs incurred	19.6			7.3
Cash payments and other	(13.9		)	(8.6		)
Ending balance	$	9.5		$	3.8

Earnings Per Share (Tables)

12 Months Ended

Dec. 31, 2019

Earnings Per Share, Basic and Diluted [Abstract]

Basic and Diluted Earnings (Loss) Per Share

Basic and diluted earnings per share were calculated as follows:



	Years ended December 31
In millions, except per share data	2019		2018		2017
Net income	$	222.7	$	230.8	$	361.7
Weighted average ordinary shares outstanding
Basic	171.6		178.6		179.0
Dilutive impact of stock options, restricted stock units and performance share units	1.4		2.2		2.2
Diluted	173.0		180.8		181.2
Earnings per ordinary share
Basic earnings per ordinary share	$	1.30	$	1.29	$	2.02
Diluted earnings per ordinary share	$	1.29	$	1.28	$	2.00
Anti-dilutive stock options excluded from the calculation of diluted earnings per share	2.1		1.0		0.4

Goodwill and Other Identifiable Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill by Segment

The changes in the carrying amount of goodwill by reportable segment were as follows:



In millions	December 31, 2018		Acquisitions/ divestitures		Foreign currency translation/other			December 31, 2019
Enclosures	$	272.0	$	45.1	$	(1.7	)	$	315.4
Thermal Management	924.1		—		1.4			925.5
Electrical & Fastening Solutions	1,038.2		—		—			1,038.2
Total goodwill	$	2,234.3	$	45.1	$	(0.3	)	$	2,279.1



In millions	December 31, 2017		Acquisitions/ divestitures		Foreign currency translation/other			December 31, 2018
Enclosures	$	274.8	$	—	$	(2.8	)	$	272.0
Thermal Management	927.1		—		(3.0		)	924.1
Electrical & Fastening Solutions	1,036.3		1.9		—			1,038.2
Total goodwill	$	2,238.2	$	1.9	$	(5.8	)	$	2,234.3

Identifiable Intangible Assets

Identifiable intangible assets consisted of the following at December 31:



	2019							2018
In millions	Cost		Accumulated amortization			Net		Cost		Accumulated amortization			Net
Definite-life intangibles
Customer relationships	$	1,197.9	$	(326.1	)	$	871.8	$	1,149.7	$	(266.4	)	$	883.3
Proprietary technologies and patents	14.8		(7.4		)	7.4		14.8		(6.1		)	8.7
Total definite-life intangibles	1,212.7		(333.5		)	879.2		1,164.5		(272.5		)	892.0
Indefinite-life intangibles
Trade names	281.3		—			281.3		281.3		—			281.3
Total intangibles	$	1,494.0	$	(333.5	)	$	1,160.5	$	1,445.8	$	(272.5	)	$	1,173.3

Estimated Future Amortization Expense for Identifiable Intangible Assets

Estimated future amortization expense for identifiable intangible assets during the next five years is as follows:



In millions	2020		2021		2022		2023		2024
Estimated amortization expense	$	63.2	$	62.0	$	61.9	$	61.7	$	61.1

Supplemental Balance Sheet Information (Tables)

12 Months Ended

Dec. 31, 2019

Disclosure Supplemental Balance Sheet Information [Abstract]

Supplemental Balance Sheet Information



	December 31
In millions	2019		2018
Inventories
Raw materials and supplies	$	67.1	$	63.1
Work-in-process	25.6		25.3
Finished goods	152.0		139.8
Total inventories	$	244.7	$	228.2
Other current assets
Contract assets	$	69.4	$	74.4
Prepaid expenses	32.5		31.7
Prepaid income taxes	9.0		9.1
Other current assets	2.4		3.2
Total other current assets	$	113.3	$	118.4
Property, plant and equipment, net
Land and land improvements	$	40.6	$	39.1
Buildings and leasehold improvements	181.6		172.6
Machinery and equipment	440.4		410.8
Construction in progress	16.5		14.6
Total property, plant and equipment	679.1		637.1
Accumulated depreciation and amortization	394.6		372.3
Total property, plant and equipment, net	$	284.5	$	264.8
Other non-current assets
Deferred compensation plan assets	$	17.3	$	23.1
Lease right-of-use assets	44.2		—
Deferred tax assets	40.9		4.6
Other non-current assets	15.1		6.1
Total other non-current assets	$	117.5	$	33.8
Other current liabilities
Dividends payable	$	29.7	$	31.0
Accrued rebates	44.1		46.1
Contract liabilities	13.7		13.2
Accrued taxes payable	24.8		27.4
Current lease liabilities	14.7		—
Other current liabilities	58.7		69.3
Total other current liabilities	$	185.7	$	187.0
Other non-current liabilities
Income taxes payable	$	31.9	$	41.9
Deferred compensation plan liabilities	17.3		23.1
Non-current lease liabilities	33.7		—
Other non-current liabilities	10.6		7.0
Total other non-current liabilities	$	93.5	$	72.0

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2019

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Components of Accumulated Other Comprehensive Income (Loss)

Components of AOCI consist of the following at December 31:



In millions	2019			2018
Cumulative translation adjustments	$	(100.5	)	$	(105.3	)
Change in market value of derivative financial instruments, net of tax	1.9			(2.5		)
Accumulated other comprehensive loss	$	(98.6	)	$	(107.8	)

Debt (Tables)

12 Months Ended

Dec. 31, 2019

Debt Disclosure [Abstract]

Debt and Average Interest Rates on Debt Outstanding

Debt and the average interest rates on debt outstanding were as follows:



In millions	Average interest rate at	Maturity year	December 31
In millions	December 31, 2019	Maturity year	2019			2018
Revolving credit facility	3.174%	2023	$	134.6		$	—
Senior notes - fixed rate	3.950%	2023	300.0			300.0
Senior notes - fixed rate	4.550%	2028	500.0			500.0
Term loan facility	3.160%	2023	135.0			147.5
Unamortized issuance costs and discounts	N/A	N/A	(5.0		)	(5.8		)
Total debt			1,064.6			941.7
Less: Current maturities and short-term borrowings			(17.5		)	(12.5		)
Long-term debt			$	1,047.1		$	929.2

Debt Outstanding Matures on Calendar Year Basis

Debt outstanding at December 31, 2019, excluding unamortized issuance costs and discounts, matures on a calendar year basis as follows:



In millions	2020		2021		2022		2023		2024		Thereafter		Total
Contractual debt obligation maturities	$	17.5	$	20.0	$	20.0	$	512.1	$	—	$	500.0	$	1,069.6

Derivatives and Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]

Recorded Amounts and Estimated Fair Values of Long-term Debt and Derivative Financial Instruments

The recorded amounts and estimated fair values of total debt, excluding unamortized issuance costs and discounts, at December 31 were as follows:



	2019				2018
In millions	Recorded Amount		Fair Value		Recorded Amount		Fair Value
Variable rate debt	$	269.6	$	269.6	$	147.5	$	147.5
Fixed rate debt	800.0		863.5		800.0		793.5
Total debt	$	1,069.6	$	1,133.1	$	947.5	$	941.0

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

Financial assets and liabilities measured at fair value on a recurring basis at December 31 were as follows:



Recurring fair value measurements	2019
In millions	Level 1		Level 2			Level 3		NAV		Total
Foreign currency contract liabilities	$	—	$	(3.4	)	$	—	$	—	$	(3.4	)
Foreign currency contract assets	—		7.6			—		—		7.6
Deferred compensation plan assets	12.8		—			—		4.5		17.3
Total recurring fair value measurements	$	12.8	$	4.2		$	—	$	4.5	$	21.5



Recurring fair value measurements	2018
In millions	Level 1		Level 2			Level 3		NAV		Total
Foreign currency contract liabilities	$	—	$	(2.6	)	$	—	$	—	$	(2.6	)
Deferred compensation plan assets	19.1		—			—		4.0		23.1
Total recurring fair value measurements	$	19.1	$	(2.6	)	$	—	$	4.0	$	20.5

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
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Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-Section 50
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (SX 210.4-08.(e),(f))
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Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
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-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2019

Income Tax Disclosure [Abstract]

Income (loss) before income taxes and noncontrolling interest

Income before income taxes consisted of the following:



	Years ended December 31
In millions	2019			2018			2017
Federal ⁽¹⁾	$	(21.1	)	$	(20.4	)	$	(19.9	)
International ⁽²⁾	278.5			289.1			333.2
Income before income taxes	$	257.4		$	268.7		$	313.3


⁽¹⁾	"Federal" reflects United Kingdom ("U.K.") income before income taxes.

⁽²⁾

"International" reflects non-U.K. income before income taxes.

Provision for Income Taxes

The provision for income taxes consisted of the following:



	Years ended December 31
In millions	2019			2018			2017
Currently payable
Federal ⁽¹⁾	$	—		$	—		$	1.0
International ⁽²⁾	55.6			47.0			94.5
Total current taxes	55.6			47.0			95.5
Deferred
International ⁽²⁾	(20.9		)	(9.1		)	(143.9		)
Total deferred taxes	(20.9		)	(9.1		)	(143.9		)
Total provision (benefit) for income taxes	$	34.7		$	37.9		$	(48.4	)


⁽¹⁾	"Federal" represents U.K. taxes.

⁽²⁾

"International" represents non-U.K. taxes.

Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate

Reconciliations of the federal statutory income tax rate to our effective tax rate were as follows:



	Years ended December 31
Percentages	2019		2018		2017
Federal statutory income tax rate ⁽¹⁾	19.0	%	19.0	%	19.3	%
Tax effect of international operations ⁽²⁾	(1.8	)	(5.8	)	(5.9	)
Change in valuation allowances	(3.6	)	0.9		(2.2	)
Non-deductible transaction costs	—		—		0.5
Excess tax benefits on stock-based compensation	(0.1	)	—		(0.1	)
Tax effect of U.S. tax reform	—		—		(27.0	)
Effective tax rate	13.5	%	14.1	%	(15.4	%)


⁽¹⁾	The statutory rate for 2019, 2018 and 2017 reflects the U.K. statutory rate of 19.0%, 19.0% and 19.3%, respectively.

⁽²⁾

The tax effect of international operations consists of non-U.K. jurisdictions.

Reconciliations of Gross Unrecognized Tax Benefits

Reconciliations of the beginning and ending gross unrecognized tax benefits were as follows:



	Years ended December 31
In millions	2019			2018			2017
Beginning balance	$	16.8		$	24.6		$	26.6
Gross increases for tax positions in prior periods	0.3			2.3			1.2
Gross decreases for tax positions in prior periods	(1.3		)	(1.6		)	(2.2		)
Gross increases based on tax positions related to the current year	1.8			1.2			1.3
Gross decreases related to settlements with taxing authorities	(0.2		)	(8.0		)	(2.3		)
Reductions due to statute expiration	(0.1		)	(1.9		)	(1.3		)
Gross increases (decreases) due to currency fluctuations	(0.3		)	0.2			1.3
Ending balance	$	17.0		$	16.8		$	24.6

Schedule of Deferred Tax Assets and Liabilities

Deferred taxes were recorded in the Consolidated Balance Sheets at December 31 as follows:



In millions	2019		2018
Other non-current assets	$	40.9	$	4.6
Deferred tax liabilities	237.8		224.8
Net deferred tax liabilities	$	196.9	$	220.2

The tax effects of the major items recorded as deferred tax assets and liabilities at December 31 were as follows:



In millions	2019		2018
Deferred tax assets
Accrued liabilities and reserves	$	10.4	$	10.6
Pension and other post-retirement compensation and benefits	36.9		26.8
Employee compensation and benefits	11.8		12.8
Tax loss and credit carryforwards	138.1		143.0
Interest limitation	20.0		7.7
Other assets	9.0		—
Total deferred tax assets	226.2		200.9
Valuation allowance	125.3		137.8
Deferred tax assets, net of valuation allowance	100.9		63.1
Deferred tax liabilities
Property, plant and equipment	17.6		15.3
Goodwill and other intangibles	262.2		260.4
Other liabilities	18.0		7.6
Total deferred tax liabilities	297.8		283.3
Net deferred tax liabilities	$	196.9	$	220.2

Benefit Plans (Tables)

12 Months Ended

Dec. 31, 2019

Retirement Benefits [Abstract]

Reconciliations of Benefit Obligations, Plan Assets of Pension Plans and Funded Status of Plans

The following tables present reconciliations of plan benefit obligations, fair value of plan assets and the funded status of pension plans and other post-retirement plans as of and for the years ended December 31, 2019 and 2018:



	Pension plans						Post-retirement health plan
In millions	2019			2018			2019			2018
Change in benefit obligations
Benefit obligation beginning of year	$	199.5		$	195.3		$	16.2		$	18.2
Service cost	5.9			5.8			0.1			0.1
Interest cost	4.0			4.2			0.6			0.6
Benefit obligations from new plans	—			1.6			—			—
Plan settlements	(0.5		)	—			—			—
Actuarial loss (gain)	27.3			5.0			1.5			(2.0		)
Foreign currency translation	(4.2		)	(8.0		)	—			—
Benefits paid	(5.0		)	(4.4		)	(1.1		)	(0.7		)
Plan transfer	(16.2		)	—			—			—
Benefit obligation end of year	$	210.8		$	199.5		$	17.3		$	16.2
Change in plan assets
Fair value of plan assets beginning of year	$	41.8		$	42.2		$	—		$	—
Actual return on plan assets	3.0			(0.6		)	—			—
Assets from new plans	—			0.7			—			—
Company contributions	5.2			6.1			1.1			0.6
Plan settlements	(0.5		)	—			—			—
Foreign currency translation	0.4			(2.2		)	—			—
Benefits paid	(5.0		)	(4.4		)	(1.1		)	(0.6		)
Plan transfer	(16.2		)	—			—			—
Fair value of plan assets end of year	$	28.7		$	41.8		$	—		$	—
Funded status
Fair value of plan assets end of year	$	28.7		$	41.8		$	—		$	—
Benefit obligation end of year	210.8			199.5			17.3			16.2
Benefit obligations in excess of the fair value of plan assets	$	(182.1	)	$	(157.7	)	$	(17.3	)	$	(16.2	)

Amounts Recognized in Consolidated Balance Sheets

Amounts recorded in the Consolidated Balance Sheets at December 31 were as follows:



	Pension plans						Post-retirement health plan
In millions	2019			2018			2019			2018
Other non-current assets	$	1.7		$	1.0		$	—		$	—
Current liabilities	(3.7		)	(3.8		)	(1.2		)	(1.2		)
Non-current liabilities	(180.1		)	(154.9		)	(16.1		)	(15.0		)
Benefit obligations in excess of the fair value of plan assets	$	(182.1	)	$	(157.7	)	$	(17.3	)	$	(16.2	)

Pension Plans with an Accumulated Benefit Obligation or Projected Benefit Obligation in Excess of Plan Assets

Information for pension plans with an accumulated benefit obligation or projected benefit obligation in excess of plan assets as of December 31 was as follows:



	Projected benefit obligation exceeds the fair value of plan assets				Accumulated benefit obligation exceeds the fair value of plan assets
In millions	2019		2018		2019		2018
Projected benefit obligation	$	198.3	$	188.7	$	198.3	$	185.8
Fair value of plan assets	14.6		30.0		14.6		27.4
Accumulated benefit obligation	N/A		N/A		187.1		177.8

Components of Net Periodic Benefit Cost

Components of net periodic benefit expense for our pension plans were as follows:



	Years ended December 31
In millions	2019			2018			2017
Service cost	$	5.9		$	5.8		$	6.3
Interest cost	4.0			4.2			4.0
Expected return on plan assets	(1.1		)	(1.4		)	(1.4		)
Net actuarial loss (gain)	25.4			7.5			(6.8		)
Net periodic benefit expense	$	34.2		$	16.1		$	2.1

Weighted-Average Assumptions used to Determine Domestic Benefit Obligations and Domestic Net Periodic Benefit Cost

Weighted-average assumptions used to determine benefit obligations as of December 31 were as follows:



	Pension plans						Post-retirement health plan
Percentages	2019		2018		2017		2019		2018		2017
Discount rate	1.54	%	2.25	%	2.25	%	3.08	%	4.10	%	3.40	%
Rate of compensation increase	2.97	%	2.97	%	2.98	%	—		—		—

Weighted-average assumptions used to determine net periodic benefit expense for years ended December 31 were as follows:



	Pension plans						Post-retirement health plan
Percentages	2019		2018		2017		2019		2018		2017
Discount rate	2.25	%	2.25	%	2.06	%	4.10	%	3.40	%	3.80	%
Expected long-term return on plan assets	4.15	%	3.45	%	3.38	%	—		—		—
Rate of compensation increase	2.97	%	2.98	%	2.97	%	—		—		—

Actual Overall Asset Allocation for U.S. And Non-U.S. Plans as Compared to Investment Policy Goals

fixed income and equity securities which is consistent with our investment policy goals. Actual investments for our pension plans as of December 31 were as follows:



	Actual
Percentages	2019		2018
Equity securities	43	%	23	%
Fixed income	42	%	65	%
Alternative investments	11	%	8	%
Cash equivalents	4	%	4	%

Plan Assets Using Fair Value Hierarchy

The fair values of our pension plan assets as of December 31 were as follows:



In millions	2019		2018
Cash equivalents	$	1.2	$	1.5
Fixed income:
Corporate and non U.S. government	11.9		27.1
Other investments (alternative investments)	3.1		3.5
Total investments at fair value	$	16.2	$	32.1
Investments measured at net asset value (equity securities)	12.5		9.7
Total	$	28.7	$	41.8

Expected Future Service to Be Paid by Plans

The following benefit payments, which reflect expected future service or payout from termination, as appropriate, are expected to be paid by the plans for the years ended December 31 as follows:



In millions	Pension plans		Post-retirement health plan
2020	$	4.6	$	1.2
2021	5.0		1.2
2022	7.4		1.2
2023	5.2		1.2
2024	6.9		1.2
Thereafter	37.2		5.3

Segment Information (Tables)

12 Months Ended

Dec. 31, 2019

Segment Reporting [Abstract]

Financial Information by Reportable Business Segment

Financial information by reportable segment is included in the following summary:



	Net sales						Segment income (loss)
In millions	2019		2018		2017		2019			2018			2017
Enclosures	$	1,033.8	$	1,019.7	$	934.9	$	181.3		$	174.8		$	164.6
Thermal Management	590.6		623.2		622.2		145.3			154.2			147.3
Electrical & Fastening Solutions	579.6		570.7		540.8		149.7			144.5			140.7
Other	—		—		—		(52.0		)	(49.1		)	(29.6		)
Consolidated	$	2,204.0	$	2,213.6	$	2,097.9	$	424.3		$	424.4		$	423.0

No customer accounted for more than 10% of net sales in 2019, 2018, or 2017.



	Identifiable assets						Depreciation
In millions	2019		2018		2017		2019		2018		2017
Enclosures	$	787.0	$	665.9	$	672.3	$	16.1	$	15.9	$	16.0
Thermal Management	1,543.7		1,557.1		1,800.9		7.9		8.6		8.7
Electrical & Fastening Solutions	2,129.3		2,157.7		2,189.0		9.1		10.1		9.6
Other	180.3		172.0		62.8		2.3		1.6		2.2
Consolidated	$	4,640.3	$	4,552.7	$	4,725.0	$	35.4	$	36.2	$	36.5



	Capital expenditures
In millions	2019		2018		2017
Enclosures	$	15.3	$	13.3	$	21.7
Thermal Management	6.8		5.1		4.9
Electrical & Fastening Solutions	13.3		7.9		5.2
Other	3.4		13.2		—
Consolidated	$	38.8	$	39.5	$	31.8

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table presents a reconciliation of consolidated and combined segment income to consolidated and combined income before income taxes for the years ended December 31:



In millions	2019			2018			2017
Segment income	$	424.3		$	424.4		$	423.0
Restructuring and other	(24.2		)	(7.7		)	(13.0		)
Intangible amortization	(61.4		)	(60.9		)	(61.4		)
Pension and other post-retirement mark-to-market (loss) gain	(27.3		)	(7.0		)	3.0
Acquisition transaction and integration costs	(2.4		)	—			—
Inventory step-up amortization	(3.2		)	—			—
Trade name impairment	—			—			(16.4		)
Separation costs	—			(45.0		)	(16.1		)
Interest expense, net	(44.7		)	(31.2		)	(0.2		)
Other expense	(3.7		)	(3.9		)	(5.6		)
Income before income taxes	$	257.4		$	268.7		$	313.3

Leases (Tables)

12 Months Ended

Dec. 31, 2019

Leases [Abstract]

Lease, Cost

Supplemental cash flow information related to operating leases was as follows:



	Year ended
In millions	December 31, 2019
Cash paid for amounts included in the measurement of lease liabilities	$	18.0
Lease right-of-use assets obtained in exchange for new lease liabilities	15.5

The weighted average remaining lease term and weighted average discount rate as of December 31, 2019 were as follows:



	December 31, 2019
Weighted average remaining lease term
Operating leases	5 years
Weighted average discount rate
Operating leases	4.0	%

Future Lease Payments

Future minimum lease commitments under non-cancelable operating leases based on accounting standards applicable as of December 31, 2018 were as follows:



In millions
2019	$	16.2
2020	12.6
2021	8.0
2022	5.6
2023	2.7
Thereafter	9.6
Total	$	54.7

Future lease payments under non-cancelable operating leases as of December 31, 2019 were as follows:



In millions
2020	$	16.7
2021	11.4
2022	7.5
2023	4.4
2024	3.5
Thereafter	10.9
Total lease payments	54.4
Less imputed interest	(6.0		)
Total reported lease liability	$	48.4

Operating Leases, Assets and Liabilities

Supplemental balance sheet information related to operating leases was as follows:



In millions	Classification	December 31, 2019		January 1, 2019
Assets
Lease right-of-use assets	Other non-current assets	$	44.2	$	44.2
Liabilities
Current lease liabilities	Other current liabilities	$	14.7	$	13.6
Non-current lease liabilities	Other non-current liabilities	33.7		34.8
Total lease liabilities		$	48.4	$	48.4

Selected Quarterly Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Selected Quarterly Financial Information [Abstract]

Quarterly Financial Information

The following tables present 2019 and 2018 quarterly financial information:



	2019
In millions, except per-share data	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Full Year
Net sales	$	538.0	$	539.5	$	559.8	$	566.7	$	2,204.0
Gross profit	209.9		212.2		224.1		219.6		865.8
Operating income	77.5		87.0		86.1		82.5		333.1
Net income	56.4		60.9		59.9		45.5		222.7
Earnings per ordinary share ⁽¹⁾
Basic	$	0.32	$	0.36	$	0.35	$	0.27	$	1.30
Diluted	$	0.32	$	0.35	$	0.35	$	0.27	$	1.29



	2018
In millions, except per-share data	First Quarter		Second Quarter		Third Quarter		Fourth Quarter		Full Year
Net sales	$	538.9	$	542.7	$	563.9	$	568.1	$	2,213.6
Gross profit	208.9		219.4		229.1		218.7		876.1
Operating income	65.6		65.3		93.7		86.2		310.8
Net income	52.3		43.3		68.2		67.0		230.8
Earnings per ordinary share ⁽¹⁾
Basic	$	0.29	$	0.24	$	0.38	$	0.38	$	1.29
Diluted	$	0.29	$	0.24	$	0.38	$	0.37	$	1.28

⁽¹⁾

Amounts may not total to annual earnings because each quarter and year are calculated separately based on basic and diluted weighted-average ordinary shares outstanding during that period. The computations of basic and diluted earnings per share for periods prior to the separation were calculated using the shares that were distributed to Pentair shareholders upon the separation.

Basis of Presentation and Summary of Significant Accounting Policies - Additional Information (Details)		12 Months Ended
	Apr. 30, 2018 shares	Dec. 31, 2019 USD ($) segment	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Jan. 01, 2019 USD ($)	Jan. 01, 2018 USD ($)
Significant Accounting Policies [Line Items]
Number of reportable segments \| segment		3
Spinoff transaction, equity interests issued per ordinary predecessor share (in shares) \| shares	1
Impairment charges, related to trade names		$ 0	$ 0	$ 16,400,000
Right-of-use asset		44,200,000			$ 44,200,000
Operating lease, liability		48,400,000			48,400,000
Net Parent investment						$ 3,675,700,000
Deferred tax assets		$ 226,200,000	200,900,000
Accounting Standards Update 2016-02
Significant Accounting Policies [Line Items]
Right-of-use asset					44,200,000
Operating lease, liability					$ 44,000,000
Accounting Standards Update 2014-09 \| Difference between Revenue Guidance in Effect before and after Topic 606
Significant Accounting Policies [Line Items]
Net Parent investment						1,800,000
Accounting Standards Update 2016-16
Significant Accounting Policies [Line Items]
Net Parent investment						(174,500,000)
Prepaid expense						(201,500,000)
Deferred tax assets						$ 27,000,000.0
Electrical & Fastening Solutions
Significant Accounting Policies [Line Items]
Impairment charges, related to trade names				16,400,000
Successor
Significant Accounting Policies [Line Items]
Allocated amounts			42,500,000	65,700,000
Predecessor
Significant Accounting Policies [Line Items]
Allocated amounts			10,300,000	$ 31,000,000.0
Adjustment \| Accounting Standards Update 2017-07 \| Selling, General and Administrative Expenses
Significant Accounting Policies [Line Items]
Net periodic benefit expense			$ 2,600,000
Transferred at Point in Time
Significant Accounting Policies [Line Items]
Revenues, percent		73.00%	72.00%
Transferred over Time
Significant Accounting Policies [Line Items]
Revenues, percent		27.00%	28.00%

Basis of Presentation and Summary of Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Detail)	12 Months Ended
	Dec. 31, 2019
Land Improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful lives	5 years
Land Improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful lives	20 years
Buildings and Leasehold Improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful lives	5 years
Buildings and Leasehold Improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful lives	50 years
Machinery and Equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful lives	3 years
Machinery and Equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful lives	15 years

Basis of Presentation and Summary of Significant Accounting Policies - Property, Plant and Equipment by Region (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	$ 284.5	$ 264.8
U.S. and Canada
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	160.7	159.6
MEXICO
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	42.1	39.7
EMEA [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	75.0	58.1
Developing
Property, Plant and Equipment [Line Items]
Property, plant and equipment, net	$ 6.7	$ 7.4

Basis of Presentation and Summary of Significant Accounting Policies - Schedule of Effects of New Accounting Pronouncements (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Accounts and notes receivable, net	$ 334.3	$ 340.9	$ 353.1
Inventories	244.7	228.2	222.3
Other current assets	113.3	118.4	134.1
Other non-current assets	117.5	33.8	77.3
Other current liabilities	185.7	187.0	145.1
Deferred tax liabilities	$ 237.8	224.8	279.8
Net Parent investment			3,675.7
Accounting Standards Update 2016-16
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Accounts and notes receivable, net			0.0
Inventories			0.0
Other current assets			0.0
Other non-current assets			(174.5)
Other current liabilities			0.0
Deferred tax liabilities			0.0
Net Parent investment			(174.5)
Calculated under Revenue Guidance in Effect before Topic 606
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Accounts and notes receivable, net		349.3
Inventories		224.1
Other current assets		132.3
Other non-current assets		251.8
Other current liabilities		141.3
Deferred tax liabilities		279.4
Net Parent investment		$ 3,848.4
Difference between Revenue Guidance in Effect before and after Topic 606 \| Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Accounts and notes receivable, net			3.8
Inventories			(1.8)
Other current assets			1.8
Other non-current assets			0.0
Other current liabilities			3.8
Deferred tax liabilities			0.4
Net Parent investment			$ 1.8

Revenue - Narrative (Details) - USD ($)	12 Months Ended
Revenue - Narrative (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Net contract assets (liabilities)	$ (5,500,000)	$ 5,600,000
Contract with Customer, Asset, Credit Loss Expense	$ 0

Revenue - Additional Information (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 $ in Millions	Dec. 31, 2019 USD ($)
Revenue from Contract with Customer [Abstract]
Amount of remaining performance obligation	$ 79.0
Disaggregation of Revenue [Line Items]
Performance obligation expected timing of satisfaction

Revenue - Geographic Net Sales Information by Segment (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Net sales	$ 566.7	$ 559.8	$ 539.5	$ 538.0	$ 563.9	$ 542.7	$ 538.9	$ 568.1	$ 2,204.0	$ 2,213.6	$ 2,097.9
U.S. and Canada
Disaggregation of Revenue [Line Items]
Net sales									1,482.1	1,453.5
Developed Europe
Disaggregation of Revenue [Line Items]
Net sales									458.1	487.9
Developing
Disaggregation of Revenue [Line Items]
Net sales									222.2	229.0
Other Developed
Disaggregation of Revenue [Line Items]
Net sales									41.6	43.2
Enclosures
Disaggregation of Revenue [Line Items]
Net sales									1,033.8	1,019.7	934.9
Enclosures \| U.S. and Canada
Disaggregation of Revenue [Line Items]
Net sales									715.5	704.3
Enclosures \| Developed Europe
Disaggregation of Revenue [Line Items]
Net sales									212.5	202.7
Enclosures \| Developing
Disaggregation of Revenue [Line Items]
Net sales									92.5	101.0
Enclosures \| Other Developed
Disaggregation of Revenue [Line Items]
Net sales									13.3	11.7
Thermal Management
Disaggregation of Revenue [Line Items]
Net sales									590.6	623.2	622.2
Thermal Management \| U.S. and Canada
Disaggregation of Revenue [Line Items]
Net sales									351.9	351.4
Thermal Management \| Developed Europe
Disaggregation of Revenue [Line Items]
Net sales									136.3	174.4
Thermal Management \| Developing
Disaggregation of Revenue [Line Items]
Net sales									87.7	80.9
Thermal Management \| Other Developed
Disaggregation of Revenue [Line Items]
Net sales									14.7	16.5
Electrical & Fastening Solutions
Disaggregation of Revenue [Line Items]
Net sales									579.6	570.7	$ 540.8
Electrical & Fastening Solutions \| U.S. and Canada
Disaggregation of Revenue [Line Items]
Net sales									414.7	397.8
Electrical & Fastening Solutions \| Developed Europe
Disaggregation of Revenue [Line Items]
Net sales									109.3	110.8
Electrical & Fastening Solutions \| Developing
Disaggregation of Revenue [Line Items]
Net sales									42.0	47.1
Electrical & Fastening Solutions \| Other Developed
Disaggregation of Revenue [Line Items]
Net sales									$ 13.6	$ 15.0

Revenue - Vertical Sales by Segment (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disaggregation of Revenue [Line Items]
Net sales	$ 566.7	$ 559.8	$ 539.5	$ 538.0	$ 563.9	$ 542.7	$ 538.9	$ 568.1	$ 2,204.0	$ 2,213.6	$ 2,097.9
Enclosures
Disaggregation of Revenue [Line Items]
Net sales									1,033.8	1,019.7	934.9
Thermal Management
Disaggregation of Revenue [Line Items]
Net sales									590.6	623.2	622.2
Electrical & Fastening Solutions
Disaggregation of Revenue [Line Items]
Net sales									579.6	570.7	$ 540.8
Industrial
Disaggregation of Revenue [Line Items]
Net sales									962.4	1,001.8
Industrial \| Enclosures
Disaggregation of Revenue [Line Items]
Net sales									623.2	626.1
Industrial \| Thermal Management
Disaggregation of Revenue [Line Items]
Net sales									224.5	263.0
Industrial \| Electrical & Fastening Solutions
Disaggregation of Revenue [Line Items]
Net sales									114.7	112.7
Commercial & Residential
Disaggregation of Revenue [Line Items]
Net sales									637.5	604.9
Commercial & Residential \| Enclosures
Disaggregation of Revenue [Line Items]
Net sales									113.2	87.5
Commercial & Residential \| Thermal Management
Disaggregation of Revenue [Line Items]
Net sales									186.2	187.7
Commercial & Residential \| Electrical & Fastening Solutions
Disaggregation of Revenue [Line Items]
Net sales									338.1	329.7
Energy
Disaggregation of Revenue [Line Items]
Net sales									330.0	322.4
Energy \| Enclosures
Disaggregation of Revenue [Line Items]
Net sales									103.4	103.4
Energy \| Thermal Management
Disaggregation of Revenue [Line Items]
Net sales									171.4	166.9
Energy \| Electrical & Fastening Solutions
Disaggregation of Revenue [Line Items]
Net sales									55.2	52.1
Infrastructure
Disaggregation of Revenue [Line Items]
Net sales									274.1	284.5
Infrastructure \| Enclosures
Disaggregation of Revenue [Line Items]
Net sales									194.0	202.7
Infrastructure \| Thermal Management
Disaggregation of Revenue [Line Items]
Net sales									8.5	5.6
Infrastructure \| Electrical & Fastening Solutions
Disaggregation of Revenue [Line Items]
Net sales									$ 71.6	$ 76.2

Revenue - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Contract assets	$ 69.4	$ 74.4	$ 69.9
Contract liabilities	13.7	13.2	14.3
Net contract assets (liabilities)	55.7	61.2	$ 55.6
$ Change
Contract assets	(5.0)	4.5
Contract liabilities	0.5	(1.1)
Net contract assets (liabilities)	$ 5.5	$ (5.6)
% Change
Contract assets	(6.70%)	6.40%
Contract liabilities	3.80%	(7.70%)
Net contract assets (liabilities)	(9.00%)	10.10%

Restructuring - Additional Information (Details) - Person	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restructuring and Related Activities [Abstract]
Number of employees	425	50	250

Restructuring - Costs Included in Selling, General & Administrative expenses on Consolidated Statements of Income (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 21.9	$ 7.7	$ 16.8
Severance and related costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs	19.6	7.3	16.0
Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 2.3	$ 0.4	$ 0.8

Restructuring - Restructuring Costs by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 21.9	$ 7.7	$ 16.8
Enclosures
Restructuring Cost and Reserve [Line Items]
Restructuring costs	5.3	1.3	6.7
Thermal Management
Restructuring Cost and Reserve [Line Items]
Restructuring costs	6.6	2.8	7.5
Electrical & Fastening Solutions
Restructuring Cost and Reserve [Line Items]
Restructuring costs	2.2	1.9	2.6
Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 7.8	$ 1.7	$ 0.0

Restructuring - Accrual Activity recorded on Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Restructuring and Related Activities [Abstract]
Beginning balance	$ 3.8	$ 5.1
Costs incurred	19.6	7.3
Cash payments and other	(13.9)	(8.6)
Ending balance	$ 9.5	$ 3.8

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Earnings Per Share, Basic and Diluted [Abstract]
Net income	$ 45.5	$ 59.9	$ 60.9	$ 56.4	$ 68.2	$ 43.3	$ 52.3	$ 67.0	$ 222.7	$ 230.8	$ 361.7
Weighted average common shares outstanding
Basic (shares)									171.6	178.6	179.0
Dilutive impact of stock options and restricted stock awards (shares)									1.4	2.2	2.2
Diluted (shares)									173.0	180.8	181.2
Earnings per ordinary share
Basic (dollars per share)	$ 0.27	$ 0.35	$ 0.36	$ 0.32	$ 0.38	$ 0.24	$ 0.29	$ 0.38	$ 1.30	$ 1.29	$ 2.02
Diluted (dollars per share)	$ 0.27	$ 0.35	$ 0.35	$ 0.32	$ 0.38	$ 0.24	$ 0.29	$ 0.37	$ 1.29	$ 1.28	$ 2.00
Anti-dilutive stock options excluded from the calculation of diluted earnings per share (in shares)									2.1	1.0	0.4

Acquisitions (Details) - USD ($) $ in Millions			3 Months Ended	4 Months Ended	12 Months Ended
Acquisitions (Details) - USD ($) $ in Millions	Feb. 10, 2020	Aug. 30, 2019	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Business Acquisition [Line Items]
Payments to acquire business					$ 127.8	$ 2.0	$ 13.6
Eldon Holding AB
Business Acquisition [Line Items]
Payments to acquire business		$ 127.8
Goodwill acquired					$ 45.1
Goodwill Increase (Decrease)			$ (9.1)
Net sales since acquisition				$ 30.6
Customer relationships \| Eldon Holding AB
Business Acquisition [Line Items]
Intangible assets acquired		$ 46.7
Average useful life		17 years
Subsequent Event \| WBT LLC
Business Acquisition [Line Items]
Payments to acquire assets	$ 30.0

Goodwill and Other Identifiable Intangible Assets - Changes in Carrying Amount of Goodwill by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Goodwill [Roll Forward]
Beginning Balance	$ 2,234.3	$ 2,238.2
Acquisitions/ divestitures	45.1	1.9
Foreign currency translation/other	(0.3)	(5.8)
Ending Balance	2,279.1	2,234.3
Enclosures
Goodwill [Roll Forward]
Beginning Balance	272.0	274.8
Acquisitions/ divestitures	45.1	0.0
Foreign currency translation/other	(1.7)	(2.8)
Ending Balance	315.4	272.0
Thermal Management
Goodwill [Roll Forward]
Beginning Balance	924.1	927.1
Acquisitions/ divestitures	0.0	0.0
Foreign currency translation/other	1.4	(3.0)
Ending Balance	925.5	924.1
Electrical & Fastening Solutions
Goodwill [Roll Forward]
Beginning Balance	1,038.2	1,036.3
Acquisitions/ divestitures	0.0	1.9
Foreign currency translation/other	0.0	0.0
Ending Balance	$ 1,038.2	$ 1,038.2

Goodwill and Other Identifiable Intangible Assets - Identifiable Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Acquired Intangible Assets by Major Class [Line Items]
Finite-life intangibles, cost	$ 1,212.7	$ 1,164.5
Accumulated amortization	(333.5)	(272.5)
Finite-life intangibles, net	879.2	892.0
Indefinite-life intangibles	281.3	281.3
Total intangibles, cost	1,494.0	1,445.8
Total intangibles, net	1,160.5	1,173.3
Customer relationships
Acquired Intangible Assets by Major Class [Line Items]
Finite-life intangibles, cost	1,197.9	1,149.7
Accumulated amortization	(326.1)	(266.4)
Finite-life intangibles, net	871.8	883.3
Proprietary technology and patents
Acquired Intangible Assets by Major Class [Line Items]
Finite-life intangibles, cost	14.8	14.8
Accumulated amortization	(7.4)	(6.1)
Finite-life intangibles, net	$ 7.4	$ 8.7

Goodwill and Other Identifiable Intangible Assets - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization	$ 61,400,000	$ 60,900,000	$ 61,400,000
Impairment charges, related to trade names	$ 0	$ 0	$ 16,400,000

Goodwill and Other Identifiable Intangible Assets - Estimated Future Amortization Expense for Identifiable Intangible Assets (Details) $ in Millions	Dec. 31, 2019 USD ($)
Estimated amortization expense
2020	$ 63.2
2021	62.0
2022	61.9
2023	61.7
2024	$ 61.1

Supplemental Balance Sheet Information (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017
Disclosure Supplemental Balance Sheet Information [Abstract]
Non-current lease liabilities	$ 33.7	$ 34.8
Operating Lease, Liability, Current	14.7	13.6
Inventories
Raw materials and supplies	67.1		$ 63.1
Work-in-process	25.6		25.3
Finished goods	152.0		139.8
Total inventories	244.7		228.2	$ 222.3
Other current assets
Contract assets	69.4		74.4		$ 69.9
Prepaid expenses	32.5		31.7
Deferred income taxes	9.0		9.1
Other current assets	2.4		3.2
Total other current assets	113.3		118.4	134.1
Property, plant and equipment, net
Land and land improvements	40.6		39.1
Buildings and leasehold improvements	181.6		172.6
Machinery and equipment	440.4		410.8
Construction in progress	16.5		14.6
Total property, plant and equipment	679.1		637.1
Accumulated depreciation and amortization	394.6		372.3
Total property, plant and equipment, net	284.5		264.8
Other non-current assets
Deferred compensation plan assets	17.3		23.1
Lease right-of-use assets	44.2	$ 44.2
Deferred tax assets	40.9		4.6
Other non-current assets	15.1		6.1
Total other non-current assets	117.5		33.8	77.3
Other current liabilities
Dividends payable	29.7		31.0
Accrued rebates	44.1		46.1
Contract liabilities	13.7		13.2		$ 14.3
Accrued taxes payable	24.8		27.4
Other current liabilities	58.7		69.3
Total other current liabilities	185.7		187.0	$ 145.1
Other non-current liabilities
Income taxes payable	31.9		41.9
Deferred compensation plan liabilities	17.3		23.1
Other non-current liabilities	10.6		7.0
Total other non-current liabilities	$ 93.5		$ 72.0

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Cumulative translation adjustments	$ (100.5)	$ (105.3)
Market value of derivative financial instruments, net of tax	1.9	(2.5)
Accumulated other comprehensive income (loss)	$ (98.6)	$ (107.8)

Debt - Debt Outstanding and Average Interest Rates (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Debt Disclosure [Line Items]
Long-term debt, gross	$ 1,069.6
Unamortized issuance costs and discounts	(5.0)		$ (5.8)
Total debt	1,064.6		941.7
Less: Current maturities and short-term borrowings	(17.5)		(12.5)
Long-term debt	$ 1,047.1		929.2
Revolving Credit Facility
Debt Disclosure [Line Items]
Average interest rate	3.174%
Long-term debt, gross	$ 134.6		0.0
Senior Notes \| Term loan facility
Debt Disclosure [Line Items]
Average interest rate	3.16%
Long-term debt, gross	$ 135.0		147.5
Senior Notes \| Senior Notes 3.950% Due 2023
Debt Disclosure [Line Items]
Average interest rate		3.95%
Long-term debt, gross	300.0		300.0
Senior Notes \| Senior Notes 4.550% Due 2028
Debt Disclosure [Line Items]
Average interest rate		4.55%
Long-term debt, gross	$ 500.0		$ 500.0

Debt - Additional Information (Detail) - USD ($)	1 Months Ended
Debt - Additional Information (Detail) - USD ($)	Mar. 31, 2018	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term debt, gross		$ 1,069,600,000
Minimum
Debt Instrument [Line Items]
Leverage ratio		3.00
Maximum
Debt Instrument [Line Items]
Leverage ratio		3.75
Senior Notes \| Senior Credit Facilities \| Minimum
Debt Instrument [Line Items]
Consolidated unrestricted cash		$ 5,000,000.0
Senior Notes \| Senior Credit Facilities \| Maximum
Debt Instrument [Line Items]
Consolidated unrestricted cash		250,000,000.0
Senior Notes \| Senior Notes 3.950% Due 2023
Debt Instrument [Line Items]
Long-term debt, gross		300,000,000.0		$ 300,000,000.0
Average interest rate			3.95%
Senior Notes \| Senior Notes 4.550% Due 2028
Debt Instrument [Line Items]
Long-term debt, gross		500,000,000.0		500,000,000.0
Average interest rate			4.55%
Term loan facility \| Senior Notes
Debt Instrument [Line Items]
Long-term debt, gross		$ 135,000,000.0		147,500,000
Average interest rate		3.16%
Debt term	5 years
Maximum borrowing capacity			$ 200,000,000.0
Revolving Credit Facility
Debt Instrument [Line Items]
Long-term debt, gross		$ 134,600,000		$ 0
Average interest rate		3.174%
Revolving Credit Facility \| Senior Notes
Debt Instrument [Line Items]
Debt term	5 years
Maximum borrowing capacity			$ 600,000,000.0
Increase limit		$ 300,000,000.0
Remaining borrowing capacity		$ 465,400,000

Debt - Debt Outstanding Amounts Maturing (Detail) $ in Millions	Dec. 31, 2019 USD ($)
Contractual debt obligation maturities
2019	$ 17.5
2020	20.0
2021	20.0
2022	512.1
2023	0.0
Thereafter	500.0
Total	$ 1,069.6

Derivatives and Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Cross Currency Interest Rate Contract
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative liability, notional amount	$ 34.5
Derivative, notional amount		$ 28.4
Currency Swap
Derivative Instruments and Hedging Activities Disclosure [Line Items]
Derivative, notional amount	$ 303.5	$ 169.7

Derivatives and Financial Instruments - Recorded Amounts and Estimated Fair Values of Long-term Debt and Derivative Financial Instruments (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Total debt	$ 1,064.6	$ 941.7
Recorded Amount
Derivative [Line Items]
Variable rate debt	269.6	147.5
Fixed rate debt	800.0	800.0
Total debt	1,069.6	947.5
Fair Value
Derivative [Line Items]
Variable rate debt	269.6	147.5
Fixed rate debt	863.5	793.5
Total debt	$ 1,133.1	$ 941.0

Derivatives and Financial Instruments - Assets and Liabilities Measured at Fair Value (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charges, related to trade names	$ 0	$ 0	$ 16,400,000
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract liabilities	(3,400,000)	(2,600,000)
Foreign currency contract liabilities	7,600,000
Deferred compensation plan assets	17,300,000	23,100,000
Total recurring fair value measurements	21,500,000	20,500,000
Level 1 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract liabilities	0	0
Foreign currency contract liabilities	0
Deferred compensation plan assets	12,800,000	19,100,000
Total recurring fair value measurements	12,800,000	19,100,000
Level 2 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract liabilities	(3,400,000)	(2,600,000)
Foreign currency contract liabilities	7,600,000
Deferred compensation plan assets	0	0
Total recurring fair value measurements	4,200,000	(2,600,000)
Level 3 \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract liabilities	0	0
Foreign currency contract liabilities	0
Deferred compensation plan assets	0	0
Total recurring fair value measurements	0	0
NAV \| Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract liabilities	0	0
Foreign currency contract liabilities	0
Deferred compensation plan assets	4,500,000	4,000,000.0
Total recurring fair value measurements	$ 4,500,000	$ 4,000,000.0

Income Taxes - Income (Loss) Before Income Taxes and Noncontrolling Interest (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal	$ (21.1)	$ (20.4)	$ (19.9)
International	278.5	289.1	333.2
Income before income taxes	$ 257.4	$ 268.7	$ 313.3

Income Taxes - Provision for Income Taxes (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Currently payable
Federal	$ 0.0	$ 0.0	$ 1.0
International	55.6	47.0	94.5
Total current taxes	55.6	47.0	95.5
Deferred
International	(20.9)	(9.1)	(143.9)
Total deferred taxes	(20.9)	(9.1)	(143.9)
Total provision (benefit) for income taxes	$ 34.7	$ 37.9	$ (48.4)

Income Taxes - Reconciliation of Federal Statutory Income Tax Rate to Effective Tax Rate (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal statutory income tax rate	19.00%	19.00%	19.30%
Tax effect of international operations	(1.80%)	(5.80%)	(5.90%)
Change in valuation allowances	(3.60%)	0.90%	(2.20%)
Non-deductible transaction costs	0.00%	0.00%	0.50%
Excess tax benefits on stock-based compensation	(0.10%)	0.00%	(0.10%)
Tax effect of U.S. tax reform	0.00%	0.00%	(27.00%)
Effective tax rate	13.50%	14.10%	(15.40%)

Income Taxes - Reconciliations of Gross Unrecognized Tax Benefits (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 16.8	$ 24.6	$ 26.6
Gross increases for tax positions in prior periods	0.3	2.3	1.2
Gross decreases for tax positions in prior periods	(1.3)	(1.6)	(2.2)
Gross increases based on tax positions related to the current year	1.8	1.2	1.3
Gross decreases related to settlements with taxing authorities	(0.2)	(8.0)	(2.3)
Reductions due to statute expiration	(0.1)	(1.9)	(1.3)
Gross increases (decreases) due to currency fluctuations	(0.3)
Gross increases (decreases) due to currency fluctuations		0.2	1.3
Ending balance	$ 17.0	$ 16.8	$ 24.6

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Income Taxes [Line Items]
Gross unrecognized tax benefits	$ 24.6		$ 17.0	$ 16.8	$ 24.6	$ 26.6
Unrecognized tax benefits that would impact effective tax rate			15.7
Gross decreases related to settlements with taxing authorities			(0.2)	(8.0)	$ (2.3)
Payment of penalties			1.7	1.7
Interest on income taxes accrued			3.0	2.7
Tax credit carryforward, foreign			3.1
Deferred tax assets, operating loss carryforwards			460.7
Deferred tax assets, valuation allowance			125.3	$ 137.8
Domestic operating loss carryforward deferred tax assets			423.5
Provisional income tax expense (benefit)	(84.8)
Change in tax rate, provisional expense (benefit)	122.0
Transition tax, income tax expense (benefit)	32.9
Measurement period adjustment	$ 4.3
Foreign Country
Income Taxes [Line Items]
Deferred tax assets, valuation allowance			$ 117.0
Scenario, Forecast \| Minimum
Income Taxes [Line Items]
Possible amount of decrease during the next twelve months primarily as a result of the resolution of federal, state and foreign examinations and the expiration of various statutes of limitations		$ 0.0
Scenario, Forecast \| Maximum
Income Taxes [Line Items]
Possible amount of decrease during the next twelve months primarily as a result of the resolution of federal, state and foreign examinations and the expiration of various statutes of limitations		$ 3.0

Income Taxes - Deferred Taxes (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Jan. 01, 2018
Income Tax Disclosure [Abstract]
Other non-current assets	$ 40.9	$ 4.6
Deferred tax liabilities	237.8	224.8	$ 279.8
Net deferred tax liabilities	$ 196.9	$ 220.2

Income Taxes - Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets
Accrued liabilities and reserves	$ 10.4	$ 10.6
Pension and other post-retirement compensation and benefits	36.9	26.8
Employee compensation and benefits	11.8	12.8
Tax loss and credit carryforwards	138.1	143.0
Interest limitation	20.0	7.7
Other assets	9.0
Total deferred tax assets	226.2	200.9
Valuation allowance	125.3	137.8
Deferred tax assets, net of valuation allowance	100.9	63.1
Deferred tax liabilities
Property, plant and equipment	17.6	15.3
Goodwill and other intangibles	262.2	260.4
Other liabilities	18.0	7.6
Total deferred tax liabilities	297.8	283.3
Net deferred tax liabilities	$ 196.9	$ 220.2

Benefit Plans - Pension and Other Post-retirement Plans (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Retirement Benefits [Abstract]
Multiemployer plan expense	$ 2.7	$ 11.1

Benefit Plans - Obligations and funded status (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018
Change in plan assets
Company contributions		$ 5.2	$ 6.1
Pension plans
Change in benefit obligations
Benefit obligation beginning of year		199.5	195.3
Service cost		5.9	5.8	$ 6.3
Interest cost		4.0	4.2	4.0
Benefit obligations from new plans		0.0	1.6
Plan settlements		(0.5)	0.0
Actuarial loss (gain)	$ 27.3	27.3	5.0
Foreign currency translation		(4.2)	(8.0)
Benefits paid		(5.0)	(4.4)
Plan transfer		(16.2)	0.0
Benefit obligation end of year	210.8	210.8	199.5	195.3
Change in plan assets
Fair value of plan assets beginning of year		41.8	42.2
Actual return on plan assets		3.0	(0.6)
Assets from new plans		0.0	0.7
Company contributions			6.1
Plan settlements		(0.5)	0.0
Foreign currency translation		0.4	(2.2)
Benefits paid		(5.0)	(4.4)
Plan transfer		(16.2)	0.0
Fair value of plan assets end of year	28.7	28.7	41.8	42.2
Funded status
Fair value of plan assets end of year	28.7	41.8	41.8	42.2	$ 28.7	$ 41.8
Benefit obligation end of year	210.8	199.5	199.5	195.3	210.8	199.5
Benefit obligations in excess of the fair value of plan assets					(182.1)	(157.7)
Post-retirement
Change in benefit obligations
Benefit obligation beginning of year		16.2	18.2
Service cost		0.1	0.1
Interest cost		0.6	0.6
Benefit obligations from new plans		0.0	0.0
Plan settlements		0.0	0.0
Actuarial loss (gain)		1.5	(2.0)
Foreign currency translation		0.0	0.0
Benefits paid		(1.1)	(0.7)
Plan transfer		0.0	0.0
Benefit obligation end of year	17.3	17.3	16.2	18.2
Change in plan assets
Fair value of plan assets beginning of year		0.0	0.0
Actual return on plan assets		0.0	0.0
Assets from new plans		0.0	0.0
Company contributions		1.1	0.6
Plan settlements		0.0	0.0
Foreign currency translation		0.0	0.0
Benefits paid		(1.1)	(0.6)
Plan transfer		0.0	0.0
Fair value of plan assets end of year	0.0	0.0	0.0	0.0
Funded status
Fair value of plan assets end of year	0.0	0.0	0.0	0.0	0.0	0.0
Benefit obligation end of year	$ 17.3	$ 16.2	$ 16.2	$ 18.2	17.3	16.2
Benefit obligations in excess of the fair value of plan assets					$ (17.3)	$ (16.2)

Benefit Plans - Amounts Recorded in Consolidated Balance Sheets (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Non-current liabilities	$ (207.2)	$ (177.9)
Defined accumulated benefit obligation plans	199.5	191.2
Pension plans
Defined Benefit Plan Disclosure [Line Items]
Other non-current assets	1.7	1.0
Current liabilities	(3.7)	(3.8)
Non-current liabilities	(180.1)	(154.9)
Benefit obligations in excess of the fair value of plan assets	(182.1)	(157.7)
Post-retirement
Defined Benefit Plan Disclosure [Line Items]
Other non-current assets	0.0	0.0
Current liabilities	(1.2)	(1.2)
Non-current liabilities	(16.1)	(15.0)
Benefit obligations in excess of the fair value of plan assets	$ (17.3)	$ (16.2)

Benefit Plans - Pension Plans with Accumulated Benefit Obligation or Projected Benefit Obligation in Excess of Plan Assets (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan, Pension Plan with Project Benefit Obligation in Excess of Plan Assets [Abstract]
Projected benefit obligation	$ 198.3	$ 188.7
Fair value of plan assets	14.6	30.0
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract]
Projected benefit obligation	198.3	185.8
Fair value of plan assets	14.6	27.4
Accumulated benefit obligation	$ 187.1	$ 177.8

Benefit Plans - Components of Net Periodic Benefit Cost (Detail) - Pension plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 5.9	$ 5.8	$ 6.3
Interest cost	4.0	4.2	4.0
Expected return on plan assets	(1.1)	(1.4)	(1.4)
Net actuarial loss (gain)	25.4	7.5	(6.8)
Net periodic benefit expense	$ 34.2	$ 16.1	$ 2.1

Benefit Plans - Assumptions Used to Determine Benefit Obligations (Detail)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	1.54%	2.25%	2.25%
Rate of compensation increase	2.97%	2.97%	2.98%
Post-retirement
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.08%	4.10%	3.40%
Rate of compensation increase	0.00%	0.00%	0.00%

Benefit Plans - Assumptions Used to Determine Net Periodic Benefit Expense (Detail)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Pension plans
Defined Benefit Plan Disclosure [Line Items]
Discount rate	2.25%	2.25%	2.06%
Expected long-term return on plan assets	4.15%	3.45%	3.38%
Rate of compensation increase	2.97%	2.98%	2.97%
Post-retirement
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.10%	3.40%	3.80%
Expected long-term return on plan assets	0.00%	0.00%	0.00%
Rate of compensation increase	0.00%	0.00%	0.00%

Benefit Plans - Assumptions, Discount Rates (Details)	12 Months Ended
Benefit Plans - Assumptions, Discount Rates (Details)	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Minimum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	0.25%	0.50%	0.50%
Expected rate of return on plan assets	1.00%	1.00%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.25%	4.25%	3.50%
Expected rate of return on plan assets	5.25%	5.50%	5.50%

Benefit Plans - Asset Allocation (Detail) - Pension plans	Dec. 31, 2019	Dec. 31, 2018
Equity securities
Plan Assets
Asset allocation	43.00%	23.00%
Fixed income
Plan Assets
Asset allocation	42.00%	65.00%
Other securities
Plan Assets
Asset allocation	11.00%	8.00%
Cash
Plan Assets
Asset allocation	4.00%	4.00%

Benefit Plans - Fair Value Measurement (Detail) - Pension plans - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 28.7	$ 41.8	$ 42.2
Level 2
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	16.2	32.1
Level 2 \| Cash and Cash Equivalents
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	1.2	1.5
Level 2 \| Fixed income \| Foreign Government
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	11.9	27.1
Level 2 \| Other Investments
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	3.1	3.5
NAV
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 12.5	$ 9.7

Benefit Plans - Cash Flows (Details) - USD ($)	12 Months Ended
Benefit Plans - Cash Flows (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 5,200,000	$ 6,100,000
Minimum
Defined Benefit Plan Disclosure [Line Items]
Expected contribution	$ 6,700,000

Benefit Plans - Estimated Future Benefit Payments (Detail) $ in Millions	Dec. 31, 2019 USD ($)
Pension plans
Defined Benefit Plan Disclosure [Line Items]
2019	$ 4.6
2020	5.0
2021	7.4
2022	5.2
2023	6.9
Thereafter	37.2
Post-retirement health plan
Defined Benefit Plan Disclosure [Line Items]
2019	1.2
2020	1.2
2021	1.2
2022	1.2
2023	1.2
Thereafter	$ 5.3

Benefit Plans - Savings Plan (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Percentage of match of compensation		1.50%
Flow 401(K) Plan
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Employee benefits and share-based compensation expense	$ 10.9	$ 10.5	$ 7.1
First 1%
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Employer matching contribution, percent of employee gross pay	100.00%	100.00%
Maximum annual contribution per employee, percent		1.00%
Next 5%
Deferred Compensation Arrangement with Individual, Postretirement Benefits [Line Items]
Employer matching contribution, percent of employee gross pay		50.00%
Maximum annual contribution per employee, percent	5.00%

Shareholders' Equity (Details) - USD ($) $ / shares in Units, $ in Millions			12 Months Ended
	Feb. 25, 2020	Dec. 11, 2018	Dec. 31, 2019	Dec. 31, 2018	Feb. 19, 2019	Jul. 23, 2018
Stockholders Equity Note Disclosure [Line Items]
Common stock, shares authorized (in shares)			400,000,000.0	400,000,000.0
Common stock, par value (per share)			$ 0.01	$ 0.01
Authorized amount to repurchase shares of common stock					$ 380.0	$ 500.0
Shares repurchased				2,400,000
Common stock shares repurchased (in shares)			9,000,000.0
Share repurchases			$ 232.7	$ 59.0
Value of stock repurchased			0.0	3.0
Remaining authorized repurchase amount			$ 588.3
Number of shares authorized to repurchase			880,000,000.0
Dividend declared (in dollars per share)		$ 0.175
Dividends payable			$ 29.7	$ 31.0
Dividends paid (in dollars per share)			$ 0.70	$ 0.35
Subsequent Event
Stockholders Equity Note Disclosure [Line Items]
Dividend declared (in dollars per share)	$ 0.175

Segment Information - Financial Information by Reportable Segment (Detail) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net sales	$ 566.7	$ 559.8	$ 539.5	$ 538.0	$ 563.9	$ 542.7	$ 538.9	$ 568.1	$ 2,204.0	$ 2,213.6	$ 2,097.9
Operating income	82.5	$ 86.1	$ 87.0	$ 77.5	$ 93.7	$ 65.3	$ 65.6	86.2	333.1	310.8	316.1
Identifiable assets	4,640.3							4,725.0	4,640.3	4,552.7	4,725.0
Depreciation									35.4	36.2	36.5
Capital expenditures									38.8	39.5	31.8
Enclosures
Segment Reporting Information [Line Items]
Net sales									1,033.8	1,019.7	934.9
Operating income									181.3	174.8	164.6
Identifiable assets	787.0							672.3	787.0	665.9	672.3
Depreciation									16.1	15.9	16.0
Capital expenditures									15.3	13.3	21.7
Thermal Management
Segment Reporting Information [Line Items]
Net sales									590.6	623.2	622.2
Operating income									145.3	154.2	147.3
Identifiable assets	1,543.7							1,800.9	1,543.7	1,557.1	1,800.9
Depreciation									7.9	8.6	8.7
Capital expenditures									6.8	5.1	4.9
Electrical & Fastening Solutions
Segment Reporting Information [Line Items]
Net sales									579.6	570.7	540.8
Operating income									149.7	144.5	140.7
Identifiable assets	2,129.3							2,189.0	2,129.3	2,157.7	2,189.0
Depreciation									9.1	10.1	9.6
Capital expenditures									13.3	7.9	5.2
Other
Segment Reporting Information [Line Items]
Net sales									0.0	0.0	0.0
Operating income									(52.0)	(49.1)	(29.6)
Identifiable assets	$ 180.3							$ 62.8	180.3	172.0	62.8
Depreciation									2.3	1.6	2.2
Capital expenditures									3.4	13.2	0.0
Operating Segments
Segment Reporting Information [Line Items]
Operating income									$ 424.3	$ 424.4	$ 423.0

Segment Information - Reconciliation of Income from Continuing Operations from Segments to Consolidated (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income	$ 82,500,000	$ 86,100,000	$ 87,000,000.0	$ 77,500,000	$ 93,700,000	$ 65,300,000	$ 65,600,000	$ 86,200,000	$ 333,100,000	$ 310,800,000	$ 316,100,000
Restructuring costs									(21,900,000)	(7,700,000)	(16,800,000)
Impairment charges, related to trade names									0	0	(16,400,000)
Separation costs						$ (24,800,000)	$ (9,700,000)
Income before income taxes									257,400,000	268,700,000	313,300,000
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income									424,300,000	424,400,000	423,000,000.0
Segment Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Restructuring costs									(24,200,000)	(7,700,000)	(13,000,000.0)
Amortization									(61,400,000)	(60,900,000)	(61,400,000)
Mark-to-market actuarial gains (losses) on pension and post-retirement benefit plans									(27,300,000)	(7,000,000.0)	3,000,000.0
Acquisition transaction and integration costs									(2,400,000)	0	0
Impairment charges, related to trade names									0	0	(16,400,000)
Separation costs									0	(45,000,000.0)	(16,100,000)
Interest expense, net									(44,700,000)	(31,200,000)	(200,000)
Other expense									(3,700,000)	(3,900,000)	(5,600,000)
Segment Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Inventory Step Up Related To Merger									$ (3,200,000)	$ 0	$ 0

Leases - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Leases [Abstract]
Term of contract	12 months
Lease rent expense	$ 19.8	$ 15.8	$ 17.6
Additional operating leases	no

Leases - Weighted Average Term and Discount Rate (Details)	Dec. 31, 2019
Leases [Abstract]
Weighted average remaining lease term	5 years
Weighted average discount rate	4.00%

Leases - Future Lease Payments, Topic 842 (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019
Leases [Abstract]
2020	$ 16.7
2021	11.4
2022	7.5
2023	4.4
2024	3.5
Thereafter	10.9
Total lease payments	54.4
Less imputed interest	(6.0)
Total lease liabilities	$ 48.4	$ 48.4

Leases - Future Lease Payments, Before Topic 842 (Details) $ in Millions	Dec. 31, 2018 USD ($)
Leases [Abstract]
2019	$ 16.2
2020	12.6
2021	8.0
2022	5.6
2023	2.7
Thereafter	9.6
Total	$ 54.7

Leases - Supplemental Cash Flow Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019 USD ($)
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities	$ 18.0
Lease right-of-use assets obtained in exchange for new lease liabilities	$ 15.5

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Dec. 31, 2019	Jan. 01, 2019
Leases [Abstract]
Lease right-of-use assets	$ 44.2	$ 44.2
Current lease liabilities	14.7	13.6
Non-current lease liabilities	33.7	34.8
Total lease liabilities	$ 48.4	$ 48.4

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Outstanding value of letters of credit	$ 70.0	$ 75.8

Selected Quarterly Data (Unaudited) - Quarterly Financial Information (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Selected Quarterly Financial Information [Abstract]
Net sales	$ 566.7	$ 559.8	$ 539.5	$ 538.0	$ 563.9	$ 542.7	$ 538.9	$ 568.1	$ 2,204.0	$ 2,213.6	$ 2,097.9
Gross profit	219.6	224.1	212.2	209.9	229.1	219.4	208.9	218.7	865.8	876.1	841.9
Operating income	82.5	86.1	87.0	77.5	93.7	65.3	65.6	86.2	333.1	310.8	316.1
Net income	$ 45.5	$ 59.9	$ 60.9	$ 56.4	$ 68.2	$ 43.3	$ 52.3	$ 67.0	$ 222.7	$ 230.8	$ 361.7
Earnings per ordinary share
Basic (dollars per share)	$ 0.27	$ 0.35	$ 0.36	$ 0.32	$ 0.38	$ 0.24	$ 0.29	$ 0.38	$ 1.30	$ 1.29	$ 2.02
Diluted (dollars per share)	$ 0.27	$ 0.35	$ 0.35	$ 0.32	$ 0.38	$ 0.24	$ 0.29	$ 0.37	$ 1.29	$ 1.28	$ 2.00

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

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+ Details

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Selected Quarterly Data (Unaudited) - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2019	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Separation costs		$ 24.8	$ 9.7
Restructuring and other charges		$ 2.3	$ 2.8
Pension plans
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Actuarial loss (gain)	$ 27.3			$ 27.3	$ 5.0

Label	Element	Value
Accounting Standards Update 2014-09 [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (172,700,000)
Accounting Standards Update 2014-09 [Member] \| Net Parent Investment [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (172,700,000)