Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2018 shares
Document and Entity Information [Abstract]
Entity Registrant Name	nVent Electric plc
Entity Central Index Key	0001720635
Current Fiscal Year End Date	--06-30
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Trading Symbol	NVT
Entity Common Stock, Shares Outstanding	179,037,762

Condensed Consolidated and Combined Statements of Income and Comprehensive Income (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement [Abstract]
Net sales	$ 542.7	$ 513.2	$ 1,081.6	$ 1,015.4
Cost of goods sold	323.3	303.5	653.3	607.0
Gross profit	219.4	209.7	428.3	408.4
Selling, general and administrative	143.1	109.3	275.0	229.4
Research and development	11.0	10.9	22.4	21.9
Operating income	65.3	89.5	130.9	157.1
Net interest expense	9.3	0.1	9.9	0.2
Other expense	5.1	1.4	6.3	2.8
Income before income taxes	50.9	88.0	114.7	154.1
Provision for income taxes	7.6	17.3	19.1	28.1
Net income	43.3	70.7	95.6	126.0
Comprehensive income, net of tax
Net income	43.3	70.7	95.6	126.0
Changes in cumulative translation adjustment	(39.8)	19.3	(37.5)	27.9
Changes in market value of derivative financial instruments, net of tax	(1.0)	(0.2)	(1.7)	0.5
Comprehensive income	$ 2.5	$ 89.8	$ 56.4	$ 154.4
Earnings per ordinary share
Basic pro forma earnings per ordinary share (in dollars per share)	$ 0.24	$ 0.39	$ 0.53	$ 0.70
Diluted pro forma earnings per ordinary share (in dollars per share)	$ 0.24	$ 0.39	$ 0.53	$ 0.70
Weighted average ordinary shares outstanding
Basic (shares)	178.5	179.0	178.7	179.0
Diluted (shares)	180.8	181.2	181.0	181.2

Condensed Consolidated and Combined Balance Sheets (Unaudited) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 91.5	$ 26.9
Accounts and notes receivable, net of allowances of $6.1 and $8.4, respectively	365.0
Inventories	226.7	224.1
Other current assets	136.5	132.3
Total current assets	819.7	732.6
Property, plant and equipment, net	261.1	265.8
Other assets
Goodwill	2,235.7	2,238.2
Intangibles, net	1,204.2	1,236.6
Other non-current assets	56.1	251.8
Total other assets	3,496.0	3,726.6
Total assets	4,576.8	4,725.0
Current liabilities
Current maturities of long-term debt and short-term borrowings	10.3	0.0
Accounts payable	152.7	174.1
Employee compensation and benefits	63.8	75.5
Other current liabilities	160.6	141.3
Total current liabilities	387.4	390.9
Other liabilities
Long-term debt	983.7	0.0
Pension and other post-retirement compensation and benefits	175.6	176.7
Deferred tax liabilities	255.2
Other non-current liabilities	78.5	86.7
Total liabilities	1,880.4	933.7
Equity
Ordinary shares $0.01 par value, 400.0 authorized, 179.0 issued at June 30, 2018	1.8
Additional paid-in capital	2,748.8
Retained earnings	42.1
Accumulated other comprehensive loss	(96.3)	(57.1)
Total equity	2,696.4	3,791.3
Total liabilities and equity	$ 4,576.8	$ 4,725.0

Condensed Consolidated and Combined Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Accounts and notes receivable, allowances	$ 6.4	$ 8.4
Ordinary shares, par value (in dollars per share)	$ 0.01
Ordinary shares authorized (in shares)	400,000,000
Ordinary shares issued (in shares)	179,000,000

Condensed Consolidated and Combined Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Operating activities
Net income	$ 95.6	$ 126.0
Adjustments to reconcile net income to net cash provided by (used for) operating activities
Depreciation	18.3	17.9
Amortization	30.6	30.6
Deferred income taxes	(18.3)	(8.7)
Share-based compensation	5.4	8.8
Changes in assets and liabilities, net of effects of business acquisitions
Accounts and notes receivable	(22.3)	(20.5)
Inventories	(8.7)	(17.8)
Other current assets	(6.0)	(34.7)
Accounts payable	(18.4)	(6.5)
Employee compensation and benefits	(5.7)	(5.1)
Other current liabilities	24.1	14.3
Other non-current assets and liabilities	(13.0)	20.8
Net cash provided by (used for) operating activities	81.6	125.1
Investing activities
Capital expenditures	(9.7)	(18.9)
Proceeds from sale of property and equipment	2.3	3.9
Acquisitions, net of cash acquired	(2.0)	(13.5)
Net cash provided by (used for) investing activities	(9.4)	(28.5)
Financing activities
Proceeds from long-term debt	1,000.0	0.0
Debt issuance costs	(9.9)	0.0
Cash provided at separation to Parent	(993.6)	0.0
Net transfers to Parent prior to separation	0.0	(74.9)
Shares issued to employees, net of shares withheld	5.0	0.0
Net cash provided by (used for) financing activities	1.5	(74.9)
Effect of exchange rate changes on cash and cash equivalents	(9.1)	(7.2)
Change in cash and cash equivalents	64.6	14.5
Cash and cash equivalents, beginning of period	26.9	21.5
Cash and cash equivalents, end of period	$ 91.5	$ 36.0

Condensed Consolidated and Combined Statements of Changes in Equity (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Ordinary shares	Additional paid-in capital	Retained Earnings	Net Parent investment	Accumulated other comprehensive loss
Beginning balance (in shares) at Dec. 31, 2016		0.0
Beginning balance at Dec. 31, 2016	$ 3,485.7	$ 0.0	$ 0.0		$ 3,546.3	$ (60.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	126.0				126.0
Other comprehensive income, net of tax	28.4					28.4
Net transfers from Parent	178.1				178.1
Ending balance (in shares) at Jun. 30, 2017		0.0
Ending balance at Jun. 30, 2017	3,818.2	$ 0.0	0.0		3,850.4	(32.2)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of accounting changes \| Accounting Standards Update 2014-09	(172.7)				(172.7)
Beginning balance (in shares) at Dec. 31, 2017		0.0
Beginning balance at Dec. 31, 2017	3,791.3	$ 0.0	0.0		3,848.4	(57.1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	95.6			$ 42.1	53.5
Other comprehensive income, net of tax	(39.2)					(39.2)
Net transfers from Parent	5.7				5.7
Cash provided at separation to Parent Company	(993.6)				(993.6)
Reclassification of Net Parent investment to additional paid-in capital	0.0		2,741.3		(2,741.3)
Issuance of common stock upon separation (in shares)		178.4
Issuance of common stock upon separation	1.8	$ 1.8
Exercise of options, net of shares tendered for payment (in shares)		0.6
Exercise of options, net of shares tendered for payment	5.5		5.5
Shares surrendered by employees to pay taxes	(0.5)		(0.5)
Share-based compensation	2.5		2.5
Ending balance (in shares) at Jun. 30, 2018		179.0
Ending balance at Jun. 30, 2018	$ 2,696.4	$ 1.8	$ 2,748.8	$ 42.1	$ 0.0	$ (96.3)

Basis of Presentation and Responsibility for Interim Financial Statements

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Basis of Presentation and Responsibility for Interim Financial Statements

Business

nVent Electric plc ("nVent," "we," "us," "our" or the "Company") is a leading global provider of electrical connection and protection solutions. We believe our inventive electrical solutions enable safer systems and ensure a more secure world. We design, manufacture, market, install and service high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. We offer a comprehensive range of enclosures, electrical connections and fastening and thermal management solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. 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 therefore have tax residency in the U.K.

Separation from Pentair

On April 30, 2018, Pentair plc ("Pentair" or "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.

In connection with the separation, we filed a Registration Statement on Form 10 (as amended, the “Form 10”) with the Securities and Exchange Commission (the “SEC”), which was declared effective on April 9, 2018. The Form 10 included an Information Statement describing the details of the separation and providing information as to our business and management. The final version of the Information Statement was filed with the SEC as Exhibit 99.1 to our Current Report on Form 8-K/A filed with the SEC on April 11, 2018 (the "Information Statement").

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 Pentair that are reflected on the condensed consolidated and combined financial statements of nVent.

Basis of presentation

The accompanying unaudited condensed consolidated and combined financial statements of nVent have been prepared following the requirements of the SEC for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by accounting principles generally accepted in the United States of America ("GAAP") can be condensed or omitted. As these are condensed financial statements, one should also read our combined financial statements and notes thereto for the year ended December 31, 2017, which were included in the Information Statement.

We are responsible for the unaudited condensed consolidated and combined financial statements included in this document. The financial statements include all normal recurring adjustments that are considered necessary for the fair presentation of our financial position, results of operations and cash flows for the interim periods presented.

Revenues, expenses, cash flows, assets and liabilities can and do vary during each quarter of the year. Therefore, the results and trends in these interim financial statements may not be indicative of those for a full year.

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 Pentair as if nVent were operated on a stand-alone basis. These condensed consolidated and combined financial statements have been prepared in U.S. dollars (“USD”) and in accordance with GAAP.

Cost allocations

The condensed consolidated and combined financial statements of nVent include general corporate expenses of Pentair for certain support functions that were provided on a centralized basis prior to the separation, 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 Condensed Consolidated and Combined Statements of Income and Comprehensive Income within Selling, general and administrative expense and Other expense.

The amounts allocated were $16.2 million and $14.6 million for the three months ended June 30, 2018 and 2017, respectively, of which $2.6 million and $9.5 million, respectively, were historically recorded to the Electrical segment in Pentair’s consolidated financial statements. The amounts allocated were $42.5 million and $32.5 million for the six months ended June 30, 2018 and 2017, respectively, of which $10.3 million and $15.5 million, respectively, were historically recorded to the Electrical segment in Pentair'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.

nVent considers the allocation methodology regarding Pentair’s general corporate expenses to be reasonable for all periods presented. Nevertheless, the condensed 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 condensed 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 Pentair have been included in related party transactions in these unaudited condensed 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 Condensed Consolidated and Combined Statements of Cash Flows as a financing activity and in the Condensed Consolidated and Combined Balance Sheets as Net Parent investment. The Net Parent investment represents Pentair’s historical investment in nVent, the net effect of cost allocations from transactions with Pentair, net transfers of cash and assets to Pentair and nVent’s accumulated earnings. See Note 10 for a further description of related party transactions and Net Parent investment.

Prior to the separation, transfers of cash, both to and from Pentair’s centralized cash management system were reflected as a component of Net Parent investment in the Condensed Consolidated and Combined Balance Sheets and as a financing activity on the Condensed Consolidated and Combined Statements of Cash Flows. For periods prior to the separation, the cash and cash equivalents held by Pentair at the corporate level were not attributed to nVent, as legal ownership remained with the former Parent.

For periods prior to the separation, certain nVent operations were included in Pentair’s U.S. federal and state income tax returns, and substantially all income taxes on those operations have been paid by Pentair. Income tax expense and other income tax related information contained in these condensed 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 represents 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 are assumed to be immediately settled with Pentair and are relieved through the Net Parent investment account and the Net transfers to Parent in the Condensed Consolidated and Combined Statements of Cash Flows.

Adoption of new accounting standards

On January 1, 2018, we adopted Accounting Standards Update ("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 Condensed Consolidated and Combined Statements of Income and Comprehensive Income was as follows:



	Three months ended June 30, 2017							Six months ended June 30, 2017
In millions	Prior to Adoption		As Revised		Effect of Change			Prior to Adoption		As Revised		Effect of Change
Selling, general and administrative	$	110.7	$	109.3	$	(1.4	)	$	232.2	$	229.4	$	(2.8	)
Operating income	88.1		89.5		1.4			154.3		157.1		2.8
Other expense	—		1.4		1.4			—		2.8		2.8

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.

On January 1, 2018, we adopted ASU No. 2014-09, "Revenue from Contracts with Customers" and the related amendments ("ASC 606" or "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.

A majority of our net sales continue to be recognized when products are shipped from our manufacturing facilities or delivery has occurred, depending on terms of the sale. Under the new standard, timing for recognition of certain revenue may be accelerated such that a portion of revenue will be recognized prior to shipment or delivery dependent upon contract-specific terms.

The impact of adopting the new standard primarily relates to the accounting for certain custom products manufactured by our Enclosures segment. Previously 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 will now be recognized over time. Additionally, the new revenue standard resulted in reclassifications on the Condensed Consolidated and Combined Balance Sheets related to accounting for sales returns.

The impact of adoption of the new revenue standard on our Condensed Consolidated and Combined Statements of Income and Comprehensive Income for the three and six months ended June 30, 2018 and Condensed Consolidated and Combined Balance Sheets as of June 30, 2018 was not material.

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



Condensed Consolidated and 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

New accounting standards issued but not yet adopted

In February 2016, the Financial Accounting Standards Board issued ASU 2016-02, "Leases" ("the new lease standard" or "ASC 842"), which requires an entity to recognize both assets and liabilities arising from financing and operating leases, along with additional qualitative and quantitative disclosures. The new lease standard requirements are effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and early adoption is permitted. The Company has begun evaluating the new lease standard, including the review and implementation of the necessary changes to our existing processes and systems that will be required to implement the new lease standard. While we are unable to quantify the impact at this time, we expect the primary impact to our consolidated financial position upon adoption will be the recognition, on a discounted basis, of our minimum commitments under noncancelable operating leases on our consolidated balance sheets resulting in the recording of right of use assets and lease obligations.

We currently do not expect ASC 842 to have a material effect on either our Consolidated and Combined Statements of Income and Comprehensive Income or Consolidated and Combined Statements of Cash Flows. We plan to adopt ASC 842 in the first quarter of 2019.

Revenue

6 Months Ended

Jun. 30, 2018

Revenue from Contract with Customer [Abstract]

Revenue

Revenue recognition

Revenue is recognized when control of the promised goods or services are 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. Generally, there is no post-shipment obligation on product sold other than warranty obligations in the normal and ordinary course of business. In the event significant post-shipment obligations were to exist, revenue recognition would be deferred until nVent has substantially accomplished what it must do to be entitled to the benefits represented by the revenues.

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 ASC 606. A contract’s 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 72% and 87% of our revenue for the three-month periods ended June 30, 2018 and 2017, respectively, and 72% and 86% of our revenue for the six-month periods ended June 30, 2018 and 2017, 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 28% and 13% of our revenue for the three-month periods ended June 30, 2018 and 2017, respectively, and 28% and 14% of our revenue for the six-month periods ended June 30, 2018 and 2017, respectively. The increase in our revenue recognized on an over time basis in the first six months of 2018 compared to the first six months of 2017 is primarily the result of the impact of the new revenue standard for certain custom products manufactured by our Enclosures segment. Previously, 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 will now be recognized over time.

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.

On June 30, 2018, we had $58.2 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.

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. Options to acquire additional goods or services at a discount 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 reduce sales for the probable cost of the discount. The cost of these refunds is recorded as a reduction of transaction price.

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 accompanying Condensed Consolidated and Combined Statements of Income 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 accompanying Condensed Consolidated and Combined Statements of Income 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 Condensed Consolidated and Combined Balance Sheets.

Contract assets and liabilities consisted of the following:



In millions	June 30, 2018		December 31, 2017		$ Change		% Change
Contract assets	$	73.7	$	69.9	$	3.8	5.4	%
Contract liabilities	15.2		14.3		0.9		6.3	%
Net contract assets (liabilities)	$	58.5	$	55.6	$	2.9	5.2	%

The $2.9 million increase in net contract assets from December 31, 2017 to June 30, 2018 was primarily the result of timing of milestone payments. The majority of our contract liabilities at December 31, 2017 were recognized in revenue as of June 30, 2018. There were no impairment losses recognized on our contract assets for the six months ended June 30, 2018.

Practical expedients and exemptions

We generally 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 Condensed Consolidated and Combined Statements of Income and Comprehensive Income.

We do not disclose the value of unsatisfied performance obligations for contracts with an original expected length of one year or less. 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 one year or less.

Revenue by category

We disaggregate our revenue from contracts with customers by geographic location and vertical for each of our segments, 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 by segment, based on geographic destination of the sale, was as follows:



	Three months ended June 30, 2018
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
U.S. and Canada	$	178.5	$	74.5	$	103.3	$	356.3
Developed Europe ⁽¹⁾	47.7		39.9		28.1		115.7
Developing ⁽²⁾	26.7		19.9		12.2		58.8
Other Developed ⁽³⁾	2.7		4.7		4.5		11.9
Total	$	255.6	$	139.0	$	148.1	$	542.7
(1) - Includes Western Europe and Eastern Europe in European Union.
(2) - Developing includes China, Eastern Europe not in European Union, Latin America, the Middle East and Southeast Asia.
(3) - Other Developed includes Australia and Japan.



	Six months ended June 30, 2018
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
U.S. and Canada	$	351.1	$	157.6	$	196.6	$	705.3
Developed Europe ⁽¹⁾	102.0		79.7		55.7		237.4
Developing ⁽²⁾	51.0		40.0		24.7		115.7
Other Developed ⁽³⁾	5.6		9.6		8.0		23.2
Total	$	509.7	$	286.9	$	285.0	$	1,081.6
(1) - Includes Western Europe and Eastern Europe in European Union.
(2) - Developing includes China, Eastern Europe not in European Union, Latin America, the Middle East and Southeast Asia.
(3) - Other Developed includes Australia and Japan.



	Three months ended June 30, 2017
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
U.S. and Canada	$	167.5	$	76.3	$	99.2	$	343.0
Developed Europe ⁽¹⁾	40.1		48.2		24.5		112.8
Developing ⁽²⁾	23.1		12.8		11.9		47.8
Other Developed ⁽³⁾	3.4		2.6		3.6		9.6
Total	$	234.1	$	139.9	$	139.2	$	513.2
(1) - Includes Western Europe and Eastern Europe in European Union.
(2) - Developing includes China, Eastern Europe not in European Union, Latin America, the Middle East and Southeast Asia.
(3) - Other Developed includes Australia and Japan.



	Six months ended June 30, 2017
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
U.S. and Canada	$	329.1	$	153.3	$	187.7	$	670.1
Developed Europe ⁽¹⁾	80.8		87.9		47.4		216.1
Developing ⁽²⁾	44.0		38.1		27.8		109.9
Other Developed ⁽³⁾	6.7		6.0		6.6		19.3
Total	$	460.6	$	285.3	$	269.5	$	1,015.4
(1) - Includes Western Europe and Eastern Europe in European Union.
(2) - Developing includes China, Eastern Europe not in European Union, Latin America, the Middle East and Southeast Asia.
(3) - Other Developed includes Australia and Japan.

Vertical net sales information by segment was as follows:



	Three months ended June 30, 2018
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
Industrial	$	156.8	$	57.5	$	29.7	$	244.0
Commercial & Residential	21.7		43.8		83.9		149.4
Energy	27.7		36.1		13.9		77.7
Infrastructure	49.4		1.6		20.6		71.6
Total	$	255.6	$	139.0	$	148.1	$	542.7



	Six months ended June 30, 2018
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
Industrial	$	314.1	$	118.2	$	55.2	$	487.5
Commercial & Residential	42.2		89.9		163.4		295.5
Energy	55.3		76.1		26.1		157.5
Infrastructure	98.1		2.7		40.3		141.1
Total	$	509.7	$	286.9	$	285.0	$	1,081.6



	Three months ended June 30, 2017
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
Industrial	$	144.2	$	59.2	$	25.4	$	228.8
Commercial & Residential	21.6		36.8		80.6		139.0
Energy	23.8		43.0		13.4		80.2
Infrastructure	44.5		0.9		19.8		65.2
Total	$	234.1	$	139.9	$	139.2	$	513.2



	Six months ended June 30, 2017
In millions	Enclosures		Thermal Management		Electrical & Fastening Solutions		Total
Industrial	$	284.4	$	116.4	$	48.5	$	449.3
Commercial & Residential	43.7		74.7		155.1		273.5
Energy	47.7		92.8		27.8		168.3
Infrastructure	84.8		1.4		38.1		124.3
Total	$	460.6	$	285.3	$	269.5	$	1,015.4

Restructuring

6 Months Ended

Jun. 30, 2018

Restructuring and Related Activities [Abstract]

Restructuring

During the six months ended June 30, 2018, we continued execution of certain business restructuring initiatives, which we initiated in the year ended December 31, 2017, aimed at reducing our fixed cost structure and realigning our business. Initiatives during the six months ended June 30, 2018 included the reduction in hourly and salaried headcount of approximately 50 employees.

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



	Three months ended				Six months ended
In millions	June 30, 2018		June 30, 2017		June 30, 2018		June 30, 2017
Severance and related costs	$	2.3	$	3.7	$	5.1	$	12.8
Other	—		—		—		0.2
Total restructuring costs	$	2.3	$	3.7	$	5.1	$	13.0

Other restructuring costs primarily consist of asset impairment and various contract termination costs.

Restructuring costs by reportable segment were as follows:



	Three months ended				Six months ended
In millions	June 30, 2018		June 30, 2017		June 30, 2018		June 30, 2017
Enclosures	$	0.9	$	2.0	$	1.2	$	5.1
Thermal Management	0.6		1.2		2.7		6.8
Electrical & Fastening Solutions	0.6		0.5		1.0		1.1
Other	0.2		—		0.2		—
Total	$	2.3	$	3.7	$	5.1	$	13.0

Activity related to accrued severance and related costs recorded in Other current liabilities in the Condensed Consolidated and Combined Balance Sheets is summarized as follows for the six months ended June 30, 2018:



In millions	June 30, 2018
Beginning balance	$	5.1
Costs incurred	5.1
Cash payments and other	(5.8		)
Ending balance	$	4.4

Earnings Per Share

6 Months Ended

Jun. 30, 2018

Earnings Per Share [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:



	Three months ended				Six months ended
In millions, except per-share data	June 30, 2018		June 30, 2017		June 30, 2018		June 30, 2017
Net income	$	43.3	$	70.7	$	95.6	$	126.0
Weighted average ordinary shares outstanding
Basic	178.5		179.0		178.7		179.0
Dilutive impact of stock options, restricted stock units and performance share units	2.3		2.2		2.3		2.2
Diluted	180.8		181.2		181.0		181.2
Earnings per ordinary share
Basic earnings per ordinary share	$	0.24	$	0.39	$	0.53	$	0.70
Diluted earnings per ordinary share	$	0.24	$	0.39	$	0.53	$	0.70
Anti-dilutive stock options excluded from the calculation of diluted earnings per share	0.9		0.4		0.7		0.4

Goodwill and Other Identifiable Intangible Assets

6 Months Ended

Jun. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Identifiable Intangible Assets

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



In millions	December 31, 2017		Acquisitions/ divestitures		Foreign currency translation/other			June 30, 2018
Enclosures	$	274.8	$	—	$	(2.1	)	$	272.7
Thermal Management	927.1		—		(2.2		)	924.9
Electrical & Fastening Solutions	1,036.3		1.8		—			1,038.1
Total goodwill	$	2,238.2	$	1.8	$	(4.3	)	$	2,235.7

In January 2018, we completed an acquisition as part of our Electrical & Fastening Solutions segment with a purchase price of $2.0 million in cash, net of cash acquired.

Identifiable intangible assets consisted of the following:



	June 30, 2018							December 31, 2017
In millions	Cost		Accumulated amortization			Net		Cost		Accumulated amortization			Net
Definite-life intangibles
Customer relationships	$	1,150.6	$	(237.0	)	$	913.6	$	1,153.0	$	(207.5	)	$	945.5
Proprietary technology and patents	14.8		(5.5		)	9.3		14.6		(4.8		)	9.8
Total definite-life intangibles	1,165.4		(242.5		)	922.9		1,167.6		(212.3		)	955.3
Indefinite-life intangibles
Trade names	281.3		—			281.3		281.3		—			281.3
Total intangibles	$	1,446.7	$	(242.5	)	$	1,204.2	$	1,448.9	$	(212.3	)	$	1,236.6

Identifiable intangible asset amortization expense was $15.2 million and $15.3 million for the three months ended June 30, 2018 and 2017, respectively, and $30.6 million and $30.6 million for the six months ended June 30, 2018 and 2017, respectively.

Estimated future amortization expense for identifiable intangible assets during the remainder of 2018 and the next five years is as follows:



	Q3-Q4
In millions	2018		2019		2020		2021		2022		2023
Estimated amortization expense	$	30.3	$	60.5	$	60.4	$	59.2	$	59.1	$	58.9

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Supplemental Balance Sheet Information

6 Months Ended

Jun. 30, 2018

Disclosure Supplemental Balance Sheet Information [Abstract]

Supplemental Balance Sheet Information



In millions	June 30, 2018		December 31, 2017
Inventories
Raw materials and supplies	$	62.9	$	64.3
Work-in-process	25.0		25.2
Finished goods	138.8		134.6
Total inventories	$	226.7	$	224.1
Other current assets
Cost in excess of billings	$	73.7	$	69.9
Prepaid expenses	46.8		29.3
Prepaid income taxes	12.2		31.3
Other current assets	3.8		1.8
Total other current assets	$	136.5	$	132.3
Property, plant and equipment, net
Land and land improvements	$	38.5	$	39.1
Buildings and leasehold improvements	167.3		170.2
Machinery and equipment	405.3		402.0
Construction in progress	13.4		11.5
Total property, plant and equipment	624.5		622.8
Accumulated depreciation and amortization	363.4		357.0
Total property, plant and equipment, net	$	261.1	$	265.8
Other non-current assets
Prepaid income taxes	$	—	$	201.5
Deferred compensation plan assets	24.5		25.1
Other non-current assets	31.6		25.2
Total other non-current assets	$	56.1	$	251.8
Other current liabilities
Accrued rebates	$	36.5	$	42.9
Billings in excess of cost	9.4		9.8
Accrued taxes payable	55.2		41.8
Other current liabilities	59.5		46.8
Total other current liabilities	$	160.6	$	141.3
Other non-current liabilities
Income taxes payable	$	50.5	$	57.6
Deferred compensation plan liabilities	24.5		25.1
Other non-current liabilities	3.5		4.0
Total other non-current liabilities	$	78.5	$	86.7

Derivatives and Financial Instruments

6 Months Ended

Jun. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives and Financial Instruments

Derivative financial instruments

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 of net earnings and cash flows associated with changes in foreign currency exchange rates. The majority of our foreign currency contracts have an original maturity date of less than one year. 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.

At June 30, 2018 and December 31, 2017, we had outstanding foreign currency derivative contracts with gross notional U.S. dollar equivalent amounts of $27.2 million and $10.7 million, respectively. The impact of these contracts on the Condensed Consolidated and Combined Statements of Income and Comprehensive Income was not material for any period presented.

Gains or losses on foreign currency contracts designated as hedges are reclassified out of Accumulated Other Comprehensive Loss and into Selling, general and administrative expense in the Condensed Consolidated and Combined Statements of Income and Comprehensive Income when the hedged item affects earnings. Such reclassifications during the three and six months ended June 30, 2018 and 2017 were not material.

Fair value of financial instruments

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


•	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;


•	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 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 based on observable inputs that are classified as Level 2 in the valuation hierarchy defined by the accounting guidance.

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



	June 30, 2018				December 31, 2017
In millions	Recorded Amount		Fair Value		Recorded Amount		Fair Value
Variable rate debt	$	200.3	$	200.3	$	—	$	—
Fixed rate debt	800.0		798.8		—		—
Total debt	$	1,000.3	$	999.1	$	—	$	—

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



	June 30, 2018
In millions	Level 1		Level 2			Level 3		Total
Recurring fair value measurements
Foreign currency contract liabilities	$	—	$	(1.0	)	$	—	$	(1.0	)
Deferred compensation plan assets	21.3		3.2			—		24.5
Total recurring fair value measurements	$	21.3	$	2.2		$	—	$	23.5



	December 31, 2017
In millions	Level 1		Level 2		Level 3		Total
Recurring fair value measurements
Foreign currency contract assets	$	—	$	0.7	$	—	$	0.7
Deferred compensation plan assets	22.9		2.2		—		25.1
Total recurring fair value measurements	$	22.9	$	2.9	$	—	$	25.8
Nonrecurring fair value measurements ⁽¹⁾

(1)

During the fourth quarter of 2017, we completed our annual intangible assets impairment review. As a result, we recorded a pre-tax non-cash impairment charge of $16.4 million. The impairment charge reduced the carrying value of the impacted trade name intangibles to $16.2 million. The fair value of trade names 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.

Debt

6 Months Ended

Jun. 30, 2018

Debt Disclosure [Abstract]

Debt

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



In millions	Average interest rate as of June 30, 2018	Maturity Year	June 30, 2018			December 31, 2017
Senior notes - fixed rate⁽¹⁾	3.950%	2023	$	300.0		$	—
Senior notes - fixed rate⁽¹⁾	4.550%	2028	500.0			—
Term loan facility	3.466%	2023	200.0			—
Other	N.M.	2018	0.3			—
Unamortized debt issuance costs and discounts	N/A	N/A	(6.3		)	—
Total debt			994.0			—
Less: Current maturities and short-term borrowings			(10.3		)	—
Long-term debt			$	983.7		$	—
⁽¹⁾Senior notes are fully and unconditionally guaranteed as to payment by nVent Electric plc
N.M. Not Meaningful

Senior notes

In March 2018, nVent Finance S.à r.l. (“nVent Finance”), 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, beginning October 15, 2018.

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. In April 2018, we drew $200.0 million under the Term Loan Facility. There were no outstanding borrowings under the Revolving Credit Facility as of June 30, 2018.

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 June 30, 2018, we were in compliance with all financial covenants in our debt agreements.

Debt outstanding, excluding unamortized issuance costs and discounts, at June 30, 2018 matures on a calendar year basis as follows:



	Q3-Q4
In millions	2018		2019		2020		2021		2022		2023		Thereafter		Total
Contractual debt obligation maturities	$	5.3	$	12.5	$	17.5	$	20.0	$	20.0	$	425.0	$	500.0	$	1,000.3

Income Taxes	6 Months Ended
Income Taxes	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective income tax rate for the six months ended June 30, 2018 was 16.7%, compared to 18.2% for 2017. The tax rate in any quarter can be affected positively or negatively by adjustments that are required to be reported in the specific quarter of resolution. The liability for uncertain tax positions was $21.2 million and $24.6 million at June 30, 2018 and December 31, 2017, respectively. We record penalties and interest related to unrecognized tax benefits in Provision for income taxes and Interest expense, respectively, on the Condensed Consolidated and Combined Statements of Income and Comprehensive Income, which is consistent with our past practices. U.S. tax reform 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. Given the significance of the Act, Staff Accounting Bulletin No. 118 ("SAB 118") was issued to address the application of GAAP in situations when a registrant does not have the necessary information available, prepared or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the Act. SAB 118 allows registrants to record provisional amounts during a one year “measurement period.” The measurement period is deemed to have ended when the registrant has obtained, prepared and analyzed the information necessary to finalize its accounting. During the measurement period, impacts of the law are expected to be recorded at the time a reasonable estimate for all or a portion of the effects can be made, and provisional amounts can be recognized and adjusted as information becomes available, prepared or analyzed. The Company calculated its best estimate of the impact of the Act in its December 31, 2017 income tax provision in accordance with its understanding of the Act and guidance available as of the date of the filing of the Form 10 and as a result recorded a provisional income tax benefit of $84.8 million in the fourth quarter of 2017, the period in which the legislation was enacted. The provisional 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. The remeasurement of deferred taxes requires further analysis regarding the state tax impacts of the remeasurement, the impact of the Act on the taxation of executive compensation arrangements, changes to tax capitalization provisions and other aspects of the Act that may impact our tax balances. The amount recorded in the fourth quarter of 2017 related to the one-time transition tax on the mandatory deemed repatriation of foreign earnings was an increase to income tax expense of $37.2 million. The determination of the transition tax requires additional analysis regarding the amount and composition of the Company’s historical foreign earnings and foreign tax credit position. We have not made any additional measurement-period adjustments related to these items during the quarter. However, we are continuing to gather additional information to complete our accounting for these items and expect to complete the analysis required to complete our accounting within the prescribed measurement period.

Related Party Transactions and Net Parent Investment	6 Months Ended
Related Party Transactions and Net Parent Investment	Jun. 30, 2018
Related Party Transactions [Abstract]
Related Party Transactions and Net Parent Investment	Related Party Transactions and Net Parent Investment Sales to Pentair by nVent were not material for the three and six months ended June 30, 2018 and 2017. During the periods prior to the separation, nVent engaged in cash pooling arrangements with related parties managed centrally by the Parent. The Parent’s business model prior to the separation included a combination of stand-alone and combined business functions between Pentair and nVent, varying by region and country. The condensed consolidated and combined financial statements of nVent include allocations of these costs between Pentair and nVent for periods prior to the separation. Such allocations are estimates, and also may not represent the cost of such services if performed on a stand-alone basis. See further description of cost allocations in Note 1. The Condensed Consolidated and Combined Balance Sheets of nVent for periods prior to the separation include certain of the Parent assets and liabilities that are specifically identifiable or otherwise attributable to nVent and were transferred to nVent upon completion of the separation. Transactions between nVent and Pentair prior to the separation are considered to be effectively settled at the time the transaction was recorded. The net effect of these transactions is included in the Condensed Consolidated and Combined Statements of Cash Flows as Net transfers to Parent. Net Parent investment in the Condensed Consolidated and Combined Balance Sheets represents the Parent’s historical investment in the Company, the net effect of cost allocations from transactions with the Parent, net transfers of cash and assets to the Parent and nVent’s accumulated earnings.

Benefit Plans

6 Months Ended

Jun. 30, 2018

Retirement Benefits [Abstract]

Benefit Plans

We sponsor defined-benefit pension plans and a post-retirement health plan. 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. These plans are accounted for as defined benefit pension plans for purposes of the condensed consolidated and combined financial statements. Accordingly, the funded position of these plans and the related expense are recorded in the condensed consolidated and combined financial statements. The unfunded post-retirement health plan covers certain U.S. employees and retirees and provides a fixed monthly dollar credit for retiree health care expenses. The benefit obligation and related expense for this plan are included in the condensed consolidated and combined financial statements.

Components of net periodic benefit cost for our pension plans for the three and six months ended June 30, 2018 and 2017 were as follows:



	Three months ended						Six months ended
In millions	June 30, 2018			June 30, 2017			June 30, 2018			June 30, 2017
Service cost	$	1.4		$	1.4		$	2.9		$	2.8
Interest cost	1.1			0.9			2.2			1.8
Expected return on plan assets	(0.3		)	(0.3		)	(0.7		)	(0.6		)
Net actuarial loss	4.1			—			4.1			—
Net periodic benefit cost	$	6.3		$	2.0		$	8.5		$	4.0

As described in Note 1. Basis of Presentation and Responsibility of Interim Financial Statements, during the first quarter of 2018, the Company adopted ASU 2017-07. As a result, service costs are classified as employee compensation costs within Cost of goods sold and Selling, general and administrative expense within the Condensed Consolidated and Combined Statements of Income and Comprehensive Income. All other components of net periodic benefit cost are classified within Other expense for the periods presented.

Components of net periodic benefit cost for our other post-retirement plan for the three and six months ended June 30, 2018 and 2017 were not material.

Prior to the separation, certain Company employees participated in defined benefit pension plans and post-retirement health plans sponsored by Pentair ("Shared Plans"), which also included other Pentair participants. For purposes of these condensed consolidated and combined financial statements, the Company accounts for the Shared Plans as multi-employer benefit plans. Accordingly, the Company does not record an asset or liability to recognize the funded status of the Shared Plans. However, the Company does record expense attributable to its employees who participate in the Shared Plans, as well as expense allocated for Pentair’s corporate and shared functional employees. The total expense was $0.2 million and $1.8 million for the three months ended June 30, 2018 and 2017, respectively, and $0.9 million and $3.6 million for the six months ended June 30, 2018 and 2017, respectively. nVent did not assume any benefit obligation of the Shared Plans as a result of the separation.

Share Plans

6 Months Ended

Jun. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share Plans

Prior to the separation on April 30, 2018, the Company's employees participated in stock-based compensation plans sponsored by Pentair. The share-based compensation expense recorded by the Company includes the expenses associated with employees historically attributable to the Company’s operations. Additionally, a portion of share-based compensation expense for Pentair’s corporate and shared functional employees has been allocated to the Company’s financial statements. Total share-based compensation expense, including allocated expense for Pentair’s corporate and shared functional employees, for the three and six months ended June 30, 2018 and 2017 were as follows:



	Three months ended				Six months ended
In millions	June 30, 2018		June 30, 2017		June 30, 2018		June 30, 2017
Restricted stock units	$	1.6	$	1.4	$	2.7	$	3.4
Stock options	0.8		0.7		1.3		2.5
Performance share units	0.6		0.5		1.4		2.9
Total share-based compensation expense	$	3.0	$	2.6	$	5.4	$	8.8

In April 2018, the Company's Board of Directors approved the 2018 Omnibus Incentive Plan under which the Company can issue equity awards in the future.

In the second quarter of 2018, we issued our annual share-based compensation grants under the nVent Electric plc 2018 Omnibus Incentive Plan to eligible employees. The total number of awards issued was 1.4 million, of which 0.3 million were restricted stock units, 0.9 million were stock options and 0.2 million were performance share units. The weighted-average grant date fair value of the restricted stock units, stock options and performance share units issued was $25.34, $5.04 and $25.34, respectively.

We estimated the fair value of each stock option award issued in the annual share-based compensation grant using a Black-Scholes option pricing model, modified for dividends and using the following assumptions:



	2018 Annual Grant
Risk-free interest rate	2.53	%
Expected dividend yield	2.94	%
Expected share price volatility	25.5	%
Expected term (years)	6.1

These estimates require us to make assumptions based on historical results, observance of trends in our share price, changes in option exercise behavior, future expectations and other relevant factors. If other assumptions had been used, share-based compensation expense, as calculated and recorded under the accounting guidance, could have been affected.

We based the expected life assumption on historical experience as well as the terms and vesting periods of the options granted. For purposes of determining expected share price volatility, we considered a rolling average of historical volatility measured over a period approximately equal to the expected option term. The risk-free interest rate for periods that coincide with the expected life of the options is based on the U.S. Treasury Department yield curve in effect at the time of grant.

Shareholders' Equity

6 Months Ended

Jun. 30, 2018

Equity [Abstract]

Shareholders' Equity


13.	Shareholders' Equity

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 authorization expires on July 23, 2021.

Dividends

On July 23, 2018, the Board of Directors declared a quarterly cash dividend of $0.175 payable on August 17, 2018 to shareholders of record at the close of business on August 3, 2018.

Segment Information

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Segment Information

We evaluate performance based on 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, net interest expense, costs of restructuring and other activities and other unusual non-operating items.

Financial information by reportable segment is as follows:



	Three months ended						Six months ended
In millions	June 30, 2018			June 30, 2017			June 30, 2018			June 30, 2017
Net sales
Enclosures	$	255.6		$	234.1		$	509.7		$	460.6
Thermal Management	139.0			139.9			286.9			285.3
Electrical & Fastening Solutions	148.1			139.2			285.0			269.5
Total	$	542.7		$	513.2		$	1,081.6		$	1,015.4
Segment income (loss)
Enclosures	$	47.9		$	45.7		$	88.5		$	86.0
Thermal Management	30.4			27.6			63.9			53.6
Electrical & Fastening Solutions	40.9			41.3			72.6			73.0
Other	(11.6		)	(3.9		)	(23.9		)	(9.7		)
Total	$	107.6		$	110.7		$	201.1		$	202.9

The following table presents a reconciliation of segment income to income before income taxes:



	Three months ended						Six months ended
In millions	June 30, 2018			June 30, 2017			June 30, 2018			June 30, 2017
Segment income	$	107.6		$	110.7		$	201.1		$	202.9
Intangible amortization	(15.2		)	(15.3		)	(30.6		)	(30.6		)
Separation costs	(24.8		)	(2.2		)	(34.5		)	(2.2		)
Net interest expense	(9.3		)	(0.1		)	(9.9		)	(0.2		)
Restructuring and other	(2.3		)	(3.7		)	(5.1		)	(13.0		)
Other expense	(5.1		)	(1.4		)	(6.3		)	(2.8		)
Income before income taxes	$	50.9		$	88.0		$	114.7		$	154.1

Commitments and Contingencies	6 Months Ended
Commitments and Contingencies	Jun. 30, 2018
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 June 30, 2018 and December 31, 2017 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 June 30, 2018 and December 31, 2017, the outstanding value of bonds, letters of credit and bank guarantees totaled $73.4 million and $72.3 million, respectively.

Basis of Presentation and Responsibility for Interim Financial Statements (Policies)

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Cost Allocations

The condensed consolidated and combined financial statements of nVent include general corporate expenses of Pentair for certain support functions that were provided on a centralized basis prior to the separation, 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 Condensed Consolidated and Combined Statements of Income and Comprehensive Income within Selling, general and administrative expense and Other expense.

The amounts allocated were $16.2 million and $14.6 million for the three months ended June 30, 2018 and 2017, respectively, of which $2.6 million and $9.5 million, respectively, were historically recorded to the Electrical segment in Pentair’s consolidated financial statements. The amounts allocated were $42.5 million and $32.5 million for the six months ended June 30, 2018 and 2017, respectively, of which $10.3 million and $15.5 million, respectively, were historically recorded to the Electrical segment in Pentair'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.

nVent considers the allocation methodology regarding Pentair’s general corporate expenses to be reasonable for all periods presented. Nevertheless, the condensed 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 condensed 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 Pentair have been included in related party transactions in these unaudited condensed 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 Condensed Consolidated and Combined Statements of Cash Flows as a financing activity and in the Condensed Consolidated and Combined Balance Sheets as Net Parent investment. The Net Parent investment represents Pentair’s historical investment in nVent, the net effect of cost allocations from transactions with Pentair, net transfers of cash and assets to Pentair and nVent’s accumulated earnings. See Note 10 for a further description of related party transactions and Net Parent investment.

Prior to the separation, transfers of cash, both to and from Pentair’s centralized cash management system were reflected as a component of Net Parent investment in the Condensed Consolidated and Combined Balance Sheets and as a financing activity on the Condensed Consolidated and Combined Statements of Cash Flows. For periods prior to the separation, the cash and cash equivalents held by Pentair at the corporate level were not attributed to nVent, as legal ownership remained with the former Parent.

For periods prior to the separation, certain nVent operations were included in Pentair’s U.S. federal and state income tax returns, and substantially all income taxes on those operations have been paid by Pentair. Income tax expense and other income tax related information contained in these condensed 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 represents 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 are assumed to be immediately settled with Pentair and are relieved through the Net Parent investment account and the Net transfers to Parent in the Condensed Consolidated and Combined Statements of Cash Flows.

New accounting standards

Adoption of new accounting standards

On January 1, 2018, we adopted Accounting Standards Update ("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 Condensed Consolidated and Combined Statements of Income and Comprehensive Income was as follows:



	Three months ended June 30, 2017							Six months ended June 30, 2017
In millions	Prior to Adoption		As Revised		Effect of Change			Prior to Adoption		As Revised		Effect of Change
Selling, general and administrative	$	110.7	$	109.3	$	(1.4	)	$	232.2	$	229.4	$	(2.8	)
Operating income	88.1		89.5		1.4			154.3		157.1		2.8
Other expense	—		1.4		1.4			—		2.8		2.8

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.

On January 1, 2018, we adopted ASU No. 2014-09, "Revenue from Contracts with Customers" and the related amendments ("ASC 606" or "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.

A majority of our net sales continue to be recognized when products are shipped from our manufacturing facilities or delivery has occurred, depending on terms of the sale. Under the new standard, timing for recognition of certain revenue may be accelerated such that a portion of revenue will be recognized prior to shipment or delivery dependent upon contract-specific terms.

The impact of adopting the new standard primarily relates to the accounting for certain custom products manufactured by our Enclosures segment. Previously 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 will now be recognized over time. Additionally, the new revenue standard resulted in reclassifications on the Condensed Consolidated and Combined Balance Sheets related to accounting for sales returns.

The impact of adoption of the new revenue standard on our Condensed Consolidated and Combined Statements of Income and Comprehensive Income for the three and six months ended June 30, 2018 and Condensed Consolidated and Combined Balance Sheets as of June 30, 2018 was not material.

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



Condensed Consolidated and 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

New accounting standards issued but not yet adopted

In February 2016, the Financial Accounting Standards Board issued ASU 2016-02, "Leases" ("the new lease standard" or "ASC 842"), which requires an entity to recognize both assets and liabilities arising from financing and operating leases, along with additional qualitative and quantitative disclosures. The new lease standard requirements are effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and early adoption is permitted. The Company has begun evaluating the new lease standard, including the review and implementation of the necessary changes to our existing processes and systems that will be required to implement the new lease standard. While we are unable to quantify the impact at this time, we expect the primary impact to our consolidated financial position upon adoption will be the recognition, on a discounted basis, of our minimum commitments under noncancelable operating leases on our consolidated balance sheets resulting in the recording of right of use assets and lease obligations.

We currently do not expect ASC 842 to have a material effect on either our Consolidated and Combined Statements of Income and Comprehensive Income or Consolidated and Combined Statements of Cash Flows. We plan to adopt ASC 842 in the first quarter of 2019.

Basis of Presentation and Responsibility for Interim Financial Statements (Tables)

6 Months Ended

Jun. 30, 2018

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

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



Condensed Consolidated and 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

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 Condensed Consolidated and Combined Statements of Income and Comprehensive Income was as follows:



	Three months ended June 30, 2017							Six months ended June 30, 2017
In millions	Prior to Adoption		As Revised		Effect of Change			Prior to Adoption		As Revised		Effect of Change
Selling, general and administrative	$	110.7	$	109.3	$	(1.4	)	$	232.2	$	229.4	$	(2.8	)
Operating income	88.1		89.5		1.4			154.3		157.1		2.8
Other expense	—		1.4		1.4			—		2.8		2.8

Revenue (Tables)

6 Months Ended

Jun. 30, 2018

Revenue from Contract with Customer [Abstract]

Contract with Customer, Asset and Liability

Contract assets and liabilities consisted of the following:



In millions	June 30, 2018		December 31, 2017		$ Change		% Change
Contract assets	$	73.7	$	69.9	$	3.8	5.4	%
Contract liabilities	15.2		14.3		0.9		6.3	%
Net contract assets (liabilities)	$	58.5	$	55.6	$	2.9	5.2	%

Revenue by Category

We disaggregate our revenue from contracts with customers by geographic location and vertical for each of our segments, as we believe these best depict how the nature, amount, t

Restructuring (Tables)

6 Months Ended

Jun. 30, 2018

Restructuring and Related Activities [Abstract]

Restructuring Related Costs

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



	Three months ended				Six months ended
In millions	June 30, 2018		June 30, 2017		June 30, 2018		June 30, 2017
Severance and related costs	$	2.3	$	3.7	$	5.1	$	12.8
Other	—		—		—		0.2
Total restructuring costs	$	2.3	$	3.7	$	5.1	$	13.0

Restructuring Costs By Segment

Restructuring costs by reportable segment were as follows:



	Three months ended				Six months ended
In millions	June 30, 2018		June 30, 2017		June 30, 2018		June 30, 2017
Enclosures	$	0.9	$	2.0	$	1.2	$	5.1
Thermal Management	0.6		1.2		2.7		6.8
Electrical & Fastening Solutions	0.6		0.5		1.0		1.1
Other	0.2		—		0.2		—
Total	$	2.3	$	3.7	$	5.1	$	13.0

Restructuring Accrual Activity Recorded on Consolidated Balance Sheets

Activity related to accrued severance and related costs recorded in Other current liabilities in the Condensed Consolidated and Combined Balance Sheets is summarized as follows for the six months ended June 30, 2018:



In millions	June 30, 2018
Beginning balance	$	5.1
Costs incurred	5.1
Cash payments and other	(5.8		)
Ending balance	$	4.4

Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2018

Earnings Per Share [Abstract]

Basic and Diluted Earnings Per Share

Basic and diluted earnings per share were calculated as follows:



	Three months ended				Six months ended
In millions, except per-share data	June 30, 2018		June 30, 2017		June 30, 2018		June 30, 2017
Net income	$	43.3	$	70.7	$	95.6	$	126.0
Weighted average ordinary shares outstanding
Basic	178.5		179.0		178.7		179.0
Dilutive impact of stock options, restricted stock units and performance share units	2.3		2.2		2.3		2.2
Diluted	180.8		181.2		181.0		181.2
Earnings per ordinary share
Basic earnings per ordinary share	$	0.24	$	0.39	$	0.53	$	0.70
Diluted earnings per ordinary share	$	0.24	$	0.39	$	0.53	$	0.70
Anti-dilutive stock options excluded from the calculation of diluted earnings per share	0.9		0.4		0.7		0.4

Goodwill and Other Identifiable Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying Amount of Goodwill by Segment

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



In millions	December 31, 2017		Acquisitions/ divestitures		Foreign currency translation/other			June 30, 2018
Enclosures	$	274.8	$	—	$	(2.1	)	$	272.7
Thermal Management	927.1		—		(2.2		)	924.9
Electrical & Fastening Solutions	1,036.3		1.8		—			1,038.1
Total goodwill	$	2,238.2	$	1.8	$	(4.3	)	$	2,235.7

Schedule of Finite-Lived Intangible Assets

Identifiable intangible assets consisted of the following:



	June 30, 2018							December 31, 2017
In millions	Cost		Accumulated amortization			Net		Cost		Accumulated amortization			Net
Definite-life intangibles
Customer relationships	$	1,150.6	$	(237.0	)	$	913.6	$	1,153.0	$	(207.5	)	$	945.5
Proprietary technology and patents	14.8		(5.5		)	9.3		14.6		(4.8		)	9.8
Total definite-life intangibles	1,165.4		(242.5		)	922.9		1,167.6		(212.3		)	955.3
Indefinite-life intangibles
Trade names	281.3		—			281.3		281.3		—			281.3
Total intangibles	$	1,446.7	$	(242.5	)	$	1,204.2	$	1,448.9	$	(212.3	)	$	1,236.6

Schedule of Indefinite-Lived Intangible Assets

Identifiable intangible assets consisted of the following:



	June 30, 2018							December 31, 2017
In millions	Cost		Accumulated amortization			Net		Cost		Accumulated amortization			Net
Definite-life intangibles
Customer relationships	$	1,150.6	$	(237.0	)	$	913.6	$	1,153.0	$	(207.5	)	$	945.5
Proprietary technology and patents	14.8		(5.5		)	9.3		14.6		(4.8		)	9.8
Total definite-life intangibles	1,165.4		(242.5		)	922.9		1,167.6		(212.3		)	955.3
Indefinite-life intangibles
Trade names	281.3		—			281.3		281.3		—			281.3
Total intangibles	$	1,446.7	$	(242.5	)	$	1,204.2	$	1,448.9	$	(212.3	)	$	1,236.6

Estimated Future Amortization Expense for Identifiable Intangible Assets

Estimated future amortization expense for identifiable intangible assets during the remainder of 2018 and the next five years is as follows:



	Q3-Q4
In millions	2018		2019		2020		2021		2022		2023
Estimated amortization expense	$	30.3	$	60.5	$	60.4	$	59.2	$	59.1	$	58.9

Supplemental Balance Sheet Information (Tables)

6 Months Ended

Jun. 30, 2018

Disclosure Supplemental Balance Sheet Information [Abstract]

Supplemental Balance Sheet Information



In millions	June 30, 2018		December 31, 2017
Inventories
Raw materials and supplies	$	62.9	$	64.3
Work-in-process	25.0		25.2
Finished goods	138.8		134.6
Total inventories	$	226.7	$	224.1
Other current assets
Cost in excess of billings	$	73.7	$	69.9
Prepaid expenses	46.8		29.3
Prepaid income taxes	12.2		31.3
Other current assets	3.8		1.8
Total other current assets	$	136.5	$	132.3
Property, plant and equipment, net
Land and land improvements	$	38.5	$	39.1
Buildings and leasehold improvements	167.3		170.2
Machinery and equipment	405.3		402.0
Construction in progress	13.4		11.5
Total property, plant and equipment	624.5		622.8
Accumulated depreciation and amortization	363.4		357.0
Total property, plant and equipment, net	$	261.1	$	265.8
Other non-current assets
Prepaid income taxes	$	—	$	201.5
Deferred compensation plan assets	24.5		25.1
Other non-current assets	31.6		25.2
Total other non-current assets	$	56.1	$	251.8
Other current liabilities
Accrued rebates	$	36.5	$	42.9
Billings in excess of cost	9.4		9.8
Accrued taxes payable	55.2		41.8
Other current liabilities	59.5		46.8
Total other current liabilities	$	160.6	$	141.3
Other non-current liabilities
Income taxes payable	$	50.5	$	57.6
Deferred compensation plan liabilities	24.5		25.1
Other non-current liabilities	3.5		4.0
Total other non-current liabilities	$	78.5	$	86.7

Derivatives and Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2018

Derivative Instruments and Hedging Activities Disclosure [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, were as follows:



	June 30, 2018				December 31, 2017
In millions	Recorded Amount		Fair Value		Recorded Amount		Fair Value
Variable rate debt	$	200.3	$	200.3	$	—	$	—
Fixed rate debt	800.0		798.8		—		—
Total debt	$	1,000.3	$	999.1	$	—	$	—

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

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



	June 30, 2018
In millions	Level 1		Level 2			Level 3		Total
Recurring fair value measurements
Foreign currency contract liabilities	$	—	$	(1.0	)	$	—	$	(1.0	)
Deferred compensation plan assets	21.3		3.2			—		24.5
Total recurring fair value measurements	$	21.3	$	2.2		$	—	$	23.5



	December 31, 2017
In millions	Level 1		Level 2		Level 3		Total
Recurring fair value measurements
Foreign currency contract assets	$	—	$	0.7	$	—	$	0.7
Deferred compensation plan assets	22.9		2.2		—		25.1
Total recurring fair value measurements	$	22.9	$	2.9	$	—	$	25.8
Nonrecurring fair value measurements ⁽¹⁾

(1)

During the fourth quarter of 2017, we completed our annual intangible assets impairment review. As a result, we recorded a pre-tax non-cash impairment charge of $16.4 million. The impairment charge reduced the carrying value of the impacted trade name intangibles to $16.2 million. The fair value of trade names 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.

- 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://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21475-112644

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
-URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21538-112644

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21506-112644

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28541-108399

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=84159872&loc=d3e21521-112644

+ Details

Debt (Tables)

6 Months Ended

Jun. 30, 2018

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 as of June 30, 2018	Maturity Year	June 30, 2018			December 31, 2017
Senior notes - fixed rate⁽¹⁾	3.950%	2023	$	300.0		$	—
Senior notes - fixed rate⁽¹⁾	4.550%	2028	500.0			—
Term loan facility	3.466%	2023	200.0			—
Other	N.M.	2018	0.3			—
Unamortized debt issuance costs and discounts	N/A	N/A	(6.3		)	—
Total debt			994.0			—
Less: Current maturities and short-term borrowings			(10.3		)	—
Long-term debt			$	983.7		$	—
⁽¹⁾Senior notes are fully and unconditionally guaranteed as to payment by nVent Electric plc
N.M. Not Meaningful

Debt Outstanding Matures on Calendar Year Basis

Debt outstanding, excluding unamortized issuance costs and discounts, at June 30, 2018 matures on a calendar year basis as follows:



	Q3-Q4
In millions	2018		2019		2020		2021		2022		2023		Thereafter		Total
Contractual debt obligation maturities	$	5.3	$	12.5	$	17.5	$	20.0	$	20.0	$	425.0	$	500.0	$	1,000.3

Benefit Plans (Tables)

6 Months Ended

Jun. 30, 2018

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs

Components of net periodic benefit cost for our pension plans for the three and six months ended June 30, 2018 and 2017 were as follows:



	Three months ended						Six months ended
In millions	June 30, 2018			June 30, 2017			June 30, 2018			June 30, 2017
Service cost	$	1.4		$	1.4		$	2.9		$	2.8
Interest cost	1.1			0.9			2.2			1.8
Expected return on plan assets	(0.3		)	(0.3		)	(0.7		)	(0.6		)
Net actuarial loss	4.1			—			4.1			—
Net periodic benefit cost	$	6.3		$	2.0		$	8.5		$	4.0

Share Plans (Tables)

6 Months Ended

Jun. 30, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-based Compensation Expense

Total share-based compensation expense, including allocated expense for Pentair’s corporate and shared functional employees, for the three and six months ended June 30, 2018 and 2017 were as follows:



	Three months ended				Six months ended
In millions	June 30, 2018		June 30, 2017		June 30, 2018		June 30, 2017
Restricted stock units	$	1.6	$	1.4	$	2.7	$	3.4
Stock options	0.8		0.7		1.3		2.5
Performance share units	0.6		0.5		1.4		2.9
Total share-based compensation expense	$	3.0	$	2.6	$	5.4	$	8.8

Schedule of Valuation Assumptions



	2018 Annual Grant
Risk-free interest rate	2.53	%
Expected dividend yield	2.94	%
Expected share price volatility	25.5	%
Expected term (years)	6.1

Segment Information (Tables)

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Financial Information by Reportable Segment

Financial information by reportable segment is as follows:



	Three months ended						Six months ended
In millions	June 30, 2018			June 30, 2017			June 30, 2018			June 30, 2017
Net sales
Enclosures	$	255.6		$	234.1		$	509.7		$	460.6
Thermal Management	139.0			139.9			286.9			285.3
Electrical & Fastening Solutions	148.1			139.2			285.0			269.5
Total	$	542.7		$	513.2		$	1,081.6		$	1,015.4
Segment income (loss)
Enclosures	$	47.9		$	45.7		$	88.5		$	86.0
Thermal Management	30.4			27.6			63.9			53.6
Electrical & Fastening Solutions	40.9			41.3			72.6			73.0
Other	(11.6		)	(3.9		)	(23.9		)	(9.7		)
Total	$	107.6		$	110.7		$	201.1		$	202.9

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table presents a reconciliation of segment income to income before income taxes:



	Three months ended						Six months ended
In millions	June 30, 2018			June 30, 2017			June 30, 2018			June 30, 2017
Segment income	$	107.6		$	110.7		$	201.1		$	202.9
Intangible amortization	(15.2		)	(15.3		)	(30.6		)	(30.6		)
Separation costs	(24.8		)	(2.2		)	(34.5		)	(2.2		)
Net interest expense	(9.3		)	(0.1		)	(9.9		)	(0.2		)
Restructuring and other	(2.3		)	(3.7		)	(5.1		)	(13.0		)
Other expense	(5.1		)	(1.4		)	(6.3		)	(2.8		)
Income before income taxes	$	50.9		$	88.0		$	114.7		$	154.1

Basis of Presentation and Responsibility for Interim Financial Statements - Separation from Pentair (Details)		6 Months Ended
	Apr. 30, 2018 shares	Jun. 30, 2018 segment
Subsequent Event [Line Items]
Number of reportable segments \| segment		3
Equity interests issued per ordinary predecessor share (in shares) \| shares	1

Basis of Presentation and Responsibility for Interim Financial Statements - Cost Allocations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Successor
Related Party Transaction [Line Items]
Selling, general and administrative expenses from transactions with related party	$ 16.2	$ 14.6	$ 42.5	$ 32.5
Predecessor
Related Party Transaction [Line Items]
Selling, general and administrative expenses from transactions with related party	$ 2.6	$ 9.5	$ 10.3	$ 15.5

Basis of Presentation and Responsibility for Interim Financial Statements - Effect of Retrospective Presentation Change Related to Net Periodic Cost (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2017
Selling, general and administrative
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	$ 109.3	$ 229.4
Selling, general and administrative \| Prior to Adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	110.7	232.2
Selling, general and administrative \| Accounting Standards Update 2017-07 \| Effect of Change
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	(1.4)	(2.8)
Operating income
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	89.5	157.1
Operating income \| Prior to Adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	88.1	154.3
Operating income \| Accounting Standards Update 2017-07 \| Effect of Change
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	1.4	2.8
Other expense
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	1.4	2.8
Other expense \| Prior to Adoption
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	0.0	0.0
Other expense \| Accounting Standards Update 2017-07 \| Effect of Change
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net periodic benefit cost	$ 1.4	$ 2.8

Basis of Presentation and Responsibility for Interim Financial Statements - Adoption of New Accounting Standard (Details) - USD ($) $ in Millions	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net Parent investment		$ 3,675.7
Prepaid income tax assets, noncurrent	$ 0.0		$ (201.5)
Accounting Standards Update 2016-16
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net Parent investment		(174.5)
Prepaid income tax assets, noncurrent		201.5
Deferred tax assets		27.0
Difference between Revenue Guidance in Effect before and after Topic 606 \| Accounting Standards Update 2014-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net Parent investment		$ 1.8

Basis of Presentation and Responsibility for Interim Financial Statements - Schedule of Cumulative Effect of Adoption of Accounting Standard (Details) - USD ($) $ in Millions	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Accounts and notes receivable, net	$ 365.0	$ 353.1
Inventories	226.7	222.3	$ 224.1
Other current assets	136.5	134.1	132.3
Other non-current assets	56.1	77.3	251.8
Other current liabilities	160.6	145.1	141.3
Deferred tax liabilities	$ 255.2	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 - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
Revenue - Additional Information (Details) - USD ($)	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disaggregation of Revenue [Line Items]
Net contract assets (liabilities)			$ 2,900,000
Credit loss expense			$ 0
Transferred at Point in Time
Disaggregation of Revenue [Line Items]
Revenues, percent	72.00%	87.00%	72.00%	86.00%
Transferred over Time
Disaggregation of Revenue [Line Items]
Revenues, percent	28.00%	13.00%	28.00%	14.00%

Revenue - Performance Obligations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 58.2		$ 58.2
Minimum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction period			12 months
Maximum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, expected timing of satisfaction period			18 months
Transferred at Point in Time
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenues, percent	72.00%	87.00%	72.00%	86.00%
Transferred over Time
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenues, percent	28.00%	13.00%	28.00%	14.00%

Revenue - Schedule of Contract Assets and Liabilities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Revenue from Contract with Customer [Abstract]
Contract assets	$ 73.7	$ 69.9
Contract liabilities	15.2	14.3
Net contract assets (liabilities)	58.5	$ 55.6
$ Change
Contract assets	3.8
Contract liabilities	0.9
Net contract assets (liabilities)	$ 2.9
% Change
Contract assets	5.40%
Contract liabilities	6.30%
Net contract assets (liabilities)	5.20%

Revenue - Geographic Net Sales Information by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disaggregation of Revenue [Line Items]
Net sales	$ 542.7	$ 513.2	$ 1,081.6	$ 1,015.4
U.S. and Canada
Disaggregation of Revenue [Line Items]
Net sales	356.3	343.0	705.3	670.1
Developed Europe (1)
Disaggregation of Revenue [Line Items]
Net sales	115.7	112.8	237.4	216.1
Developing
Disaggregation of Revenue [Line Items]
Net sales	58.8	47.8	115.7	109.9
Other Developed
Disaggregation of Revenue [Line Items]
Net sales	11.9	9.6	23.2	19.3
Enclosures
Disaggregation of Revenue [Line Items]
Net sales	255.6	234.1	509.7	460.6
Enclosures \| U.S. and Canada
Disaggregation of Revenue [Line Items]
Net sales	178.5	167.5	351.1	329.1
Enclosures \| Developed Europe (1)
Disaggregation of Revenue [Line Items]
Net sales	47.7	40.1	102.0	80.8
Enclosures \| Developing
Disaggregation of Revenue [Line Items]
Net sales	26.7	23.1	51.0	44.0
Enclosures \| Other Developed
Disaggregation of Revenue [Line Items]
Net sales	2.7	3.4	5.6	6.7
Thermal Management
Disaggregation of Revenue [Line Items]
Net sales	139.0	139.9	286.9	285.3
Thermal Management \| U.S. and Canada
Disaggregation of Revenue [Line Items]
Net sales	74.5	76.3	157.6	153.3
Thermal Management \| Developed Europe (1)
Disaggregation of Revenue [Line Items]
Net sales	39.9	48.2	79.7	87.9
Thermal Management \| Developing
Disaggregation of Revenue [Line Items]
Net sales	19.9	12.8	40.0	38.1
Thermal Management \| Other Developed
Disaggregation of Revenue [Line Items]
Net sales	4.7	2.6	9.6	6.0
Electrical & Fastening Solutions
Disaggregation of Revenue [Line Items]
Net sales	148.1	139.2	285.0	269.5
Electrical & Fastening Solutions \| U.S. and Canada
Disaggregation of Revenue [Line Items]
Net sales	103.3	99.2	196.6	187.7
Electrical & Fastening Solutions \| Developed Europe (1)
Disaggregation of Revenue [Line Items]
Net sales	28.1	24.5	55.7	47.4
Electrical & Fastening Solutions \| Developing
Disaggregation of Revenue [Line Items]
Net sales	12.2	11.9	24.7	27.8
Electrical & Fastening Solutions \| Other Developed
Disaggregation of Revenue [Line Items]
Net sales	$ 4.5	$ 3.6	$ 8.0	$ 6.6

Revenue - Vertical Sales by Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Disaggregation of Revenue [Line Items]
Net sales	$ 542.7	$ 513.2	$ 1,081.6	$ 1,015.4
Enclosures
Disaggregation of Revenue [Line Items]
Net sales	255.6	234.1	509.7	460.6
Thermal Management
Disaggregation of Revenue [Line Items]
Net sales	139.0	139.9	286.9	285.3
Electrical & Fastening Solutions
Disaggregation of Revenue [Line Items]
Net sales	148.1	139.2	285.0	269.5
Industrial
Disaggregation of Revenue [Line Items]
Net sales	244.0	228.8	487.5	449.3
Industrial \| Enclosures
Disaggregation of Revenue [Line Items]
Net sales	156.8	144.2	314.1	284.4
Industrial \| Thermal Management
Disaggregation of Revenue [Line Items]
Net sales	57.5	59.2	118.2	116.4
Industrial \| Electrical & Fastening Solutions
Disaggregation of Revenue [Line Items]
Net sales	29.7	25.4	55.2	48.5
Commercial & Residential
Disaggregation of Revenue [Line Items]
Net sales	149.4	139.0	295.5	273.5
Commercial & Residential \| Enclosures
Disaggregation of Revenue [Line Items]
Net sales	21.7	21.6	42.2	43.7
Commercial & Residential \| Thermal Management
Disaggregation of Revenue [Line Items]
Net sales	43.8	36.8	89.9	74.7
Commercial & Residential \| Electrical & Fastening Solutions
Disaggregation of Revenue [Line Items]
Net sales	83.9	80.6	163.4	155.1
Energy
Disaggregation of Revenue [Line Items]
Net sales	77.7	80.2	157.5	168.3
Energy \| Enclosures
Disaggregation of Revenue [Line Items]
Net sales	27.7	23.8	55.3	47.7
Energy \| Thermal Management
Disaggregation of Revenue [Line Items]
Net sales	36.1	43.0	76.1	92.8
Energy \| Electrical & Fastening Solutions
Disaggregation of Revenue [Line Items]
Net sales	13.9	13.4	26.1	27.8
Infrastructure
Disaggregation of Revenue [Line Items]
Net sales	71.6	65.2	141.1	124.3
Infrastructure \| Enclosures
Disaggregation of Revenue [Line Items]
Net sales	49.4	44.5	98.1	84.8
Infrastructure \| Thermal Management
Disaggregation of Revenue [Line Items]
Net sales	1.6	0.9	2.7	1.4
Infrastructure \| Electrical & Fastening Solutions
Disaggregation of Revenue [Line Items]
Net sales	$ 20.6	$ 19.8	$ 40.3	$ 38.1

Restructuring - Restructuring Related Costs Included in Selling, General & Administrative expenses on Consolidated Statements of Income (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018 USD ($)	Jun. 30, 2017 USD ($)	Jun. 30, 2018 USD ($) employee	Jun. 30, 2017 USD ($)
Restructuring and Related Activities [Abstract]
Number of employees \| employee			50
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 2.3	$ 3.7	$ 5.1	$ 13.0
Severance and related costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs	2.3	3.7	5.1	12.8
Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 0.0	$ 0.0	$ 0.0	$ 0.2

Restructuring - Restructuring Costs by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	$ 2.3	$ 3.7	$ 5.1	$ 13.0
Enclosures
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	0.9	2.0	1.2	5.1
Thermal Management
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	0.6	1.2	2.7	6.8
Electrical & Fastening Solutions
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	0.6	0.5	1.0	1.1
Other
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	$ 0.2	$ 0.0	$ 0.2	$ 0.0

Restructuring - Restructuring Accrual Activity recorded on Condensed Consolidated Balance Sheets (Details) $ in Millions	6 Months Ended
	Jun. 30, 2018 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 5.1
Costs incurred	5.1
Cash payments and other	(5.8)
Ending balance	$ 4.4

Earnings Per Share - Additional Information (Details)	Apr. 30, 2018 shares
Subsequent Events [Abstract]
Equity interests issued per ordinary predecessor share (in shares)	1

Earnings Per Share - Schedule of Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share [Abstract]
Net income	$ 43.3	$ 70.7
Weighted average common shares outstanding
Basic (shares)	178.5	179.0	178.7	179.0
Dilutive impact of stock options, restricted stock units and performance share units	2.3	2.2	2.3	2.2
Diluted (shares)	180.8	181.2	181.0	181.2
Earnings per ordinary share
Basic pro forma earnings per ordinary share (in dollars per share)	$ 0.24	$ 0.39	$ 0.53	$ 0.70
Diluted pro forma earnings per ordinary share (in dollars per share)	$ 0.24	$ 0.39	$ 0.53	$ 0.70
Anti-dilutive stock options excluded from the calculation of diluted earnings per share	0.9	0.4	0.7	0.4

Goodwill and Other Identifiable Intangible Assets - Changes in Carrying Amount of Goodwill by Segment (Details) $ in Millions	6 Months Ended
	Jun. 30, 2018 USD ($)
Goodwill [Roll Forward]
Beginning Balance	$ 2,238.2
Acquisitions/ divestitures 1	1.8
Foreign currency translation/other	(4.3)
Ending Balance	2,235.7
Enclosures
Goodwill [Roll Forward]
Beginning Balance	274.8
Acquisitions/ divestitures 1	0.0
Foreign currency translation/other	(2.1)
Ending Balance	272.7
Thermal Management
Goodwill [Roll Forward]
Beginning Balance	927.1
Acquisitions/ divestitures 1	0.0
Foreign currency translation/other	(2.2)
Ending Balance	924.9
Electrical & Fastening Solutions
Goodwill [Roll Forward]
Beginning Balance	1,036.3
Acquisitions/ divestitures 1	1.8
Foreign currency translation/other	0.0
Ending Balance	$ 1,038.1

Goodwill and Other Identifiable Intangible Assets - Definite-life Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets, Net [Abstract]
Cost	$ 1,165.4	$ 1,167.6
Accumulated amortization	(242.5)	(212.3)
Net	922.9	955.3
Customer relationships
Finite-Lived Intangible Assets, Net [Abstract]
Cost	1,150.6	1,153.0
Accumulated amortization	(237.0)	(207.5)
Net	913.6	945.5
Proprietary technology and patents
Finite-Lived Intangible Assets, Net [Abstract]
Cost	14.8	14.6
Accumulated amortization	(5.5)	(4.8)
Net	$ 9.3	$ 9.8

Goodwill and Other Identifiable Intangible Assets - Indefinite-life Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Indefinite-lived Intangible Assets [Line Items]
Amortization	$ 15.2	$ 15.3	$ 30.6	$ 30.6
Cost	1,446.7		1,446.7		$ 1,448.9
Accumulated amortization	(242.5)		(242.5)		(212.3)
Net	1,204.2		1,204.2		1,236.6
Trade names
Indefinite-lived Intangible Assets [Line Items]
Indefinite-life intangibles	$ 281.3		$ 281.3		$ 281.3

Goodwill and Other Identifiable Intangible Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Acquisitions, net of cash acquired			$ 2.0	$ 13.5
Amortization	$ 15.2	$ 15.3	$ 30.6	$ 30.6

Goodwill and Other Identifiable Intangible Assets - Estimated Future Amortization Expense for Identifiable Intangible Assets (Details) $ in Millions	Jun. 30, 2018 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
Q2-Q4 2018	$ 30.3
2019	60.5
2020	60.4
2021	59.2
2022	59.1
2023	$ 58.9

Supplemental Balance Sheet Information (Details) - USD ($) $ in Millions	Jun. 30, 2018	Jan. 01, 2018	Dec. 31, 2017
Inventories
Raw materials and supplies	$ 62.9		$ 64.3
Work-in-process	25.0		25.2
Finished goods	138.8		134.6
Total inventories	226.7	$ 222.3	224.1
Other current assets
Cost in excess of billings	73.7		69.9
Prepaid expenses	46.8		29.3
Prepaid income taxes	12.2		31.3
Other current assets	3.8		1.8
Total other current assets	136.5	134.1	132.3
Property, plant and equipment, net
Land and land improvements	38.5		39.1
Buildings and leasehold improvements	167.3		170.2
Machinery and equipment	405.3		402.0
Construction in progress	13.4		11.5
Total property, plant and equipment	624.5		622.8
Accumulated depreciation and amortization	363.4		357.0
Total property, plant and equipment, net	261.1		265.8
Other non-current assets
Prepaid income taxes	0.0		201.5
Deferred compensation plan assets	24.5		25.1
Other non-current assets	31.6		25.2
Total other non-current assets	56.1	77.3	251.8
Other current liabilities
Accrued rebates	36.5		42.9
Billings in excess of cost	9.4		9.8
Accrued taxes payable	55.2		41.8
Other current liabilities	59.5		46.8
Total other current liabilities	160.6	$ 145.1	141.3
Other non-current liabilities
Income taxes payable	50.5		57.6
Deferred compensation plan liabilities	24.5		25.1
Other non-current liabilities	3.5		4.0
Total other non-current liabilities	$ 78.5		$ 86.7

Derivatives and Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Foreign Exchange Contract
Derivative [Line Items]
Derivative, notional amount	$ 27.2	$ 10.7

Derivatives and Financial Instruments - Recorded Amounts and Estimated Fair Values of Long-term Debt and Derivative Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Derivative [Line Items]
Total debt	$ 1,000.3
Recorded Amount
Derivative [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Amount	200.3	$ 0.0
Fixed rate debt	800.0	0.0
Total debt	1,000.3	0.0
Fair Value
Derivative [Line Items]
Long-term Debt, Percentage Bearing Variable Interest, Amount	200.3	0.0
Fixed rate debt	798.8	0.0
Total debt	$ 999.1	$ 0.0

Derivatives and Financial Instruments - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2017	Jun. 30, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of intangible assets	$ 16.4
Impaired assets to be disposed of by method other than sale	16.2
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract assets	0.7
Foreign currency contract liabilities		$ (1.0)
Deferred compensation plan assets	25.1	24.5
Total recurring fair value measurements	25.8	23.5
Recurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract assets	0.0
Foreign currency contract liabilities		0.0
Deferred compensation plan assets	22.9	21.3
Total recurring fair value measurements	22.9	21.3
Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract assets	0.7
Foreign currency contract liabilities		(1.0)
Deferred compensation plan assets	2.2	3.2
Total recurring fair value measurements	2.9	2.2
Recurring \| Total
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract assets	0.0
Foreign currency contract liabilities		0.0
Deferred compensation plan assets	0.0	0.0
Total recurring fair value measurements	$ 0.0	$ 0.0

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Long-term debt, gross	$ 1,000.3
Unamortized debt issuance costs and discounts	(6.3)		$ 0.0
Total debt	994.0		0.0
Less: Current maturities and short-term borrowings	(10.3)		0.0
Long-term debt	$ 983.7		0.0
Senior Notes \| Term Loan Facility
Debt Instrument [Line Items]
Average interest rate as of June 30, 2018	3.466%
Long-term debt, gross	$ 200.0		0.0
Senior Notes \| Senior Notes, Due 2023
Debt Instrument [Line Items]
Average interest rate as of June 30, 2018	3.95%	3.95%
Long-term debt, gross	$ 300.0		0.0
Senior Notes \| Senior Notes, Due 2028
Debt Instrument [Line Items]
Average interest rate as of June 30, 2018	4.55%	4.55%
Long-term debt, gross	$ 500.0		0.0
Other
Debt Instrument [Line Items]
Long-term debt, gross	$ 0.3		$ 0.0

Debt - Senior Notes (Details) - Senior Notes - USD ($)	Jun. 30, 2018	Mar. 31, 2018
Senior Notes, Due 2023
Debt Instrument [Line Items]
Debt face amount		$ 300,000,000
Average interest rate	3.95%	3.95%
Senior Notes, Due 2028
Debt Instrument [Line Items]
Debt face amount		$ 500,000,000
Average interest rate	4.55%	4.55%

Debt - Senior Credit Facilities (Details) - Senior Notes	1 Months Ended
	Apr. 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Jun. 30, 2018 USD ($)
Senior Credit Facilities
Debt Instrument [Line Items]
Leverage ratio covenant			3.75
EBITDA ratio covenant			3.00
Senior Credit Facilities \| Minimum
Debt Instrument [Line Items]
Debt covenant, consolidated unrestricted cash			$ 5,000,000
Senior Credit Facilities \| Maximum
Debt Instrument [Line Items]
Debt covenant, consolidated unrestricted cash			250,000,000
Term Loan Facility
Debt Instrument [Line Items]
Debt term		5 years
Maximum borrowing capacity		$ 200,000,000
Proceeds from issuance of debt	$ 200,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Debt term		5 years
Maximum borrowing capacity		$ 600,000,000
Line of credit increase limit			300,000,000.0
Debt outstanding			$ 0

Debt - Schedule of Contracutal Debt Maturities (Details) $ in Millions	Jun. 30, 2018 USD ($)
Debt Disclosure [Abstract]
Q3-Q4 2018	$ 5.3
2019	12.5
2020	17.5
2021	20.0
2022	20.0
2023	425.0
Thereafter	500.0
Total	$ 1,000.3

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Dec. 31, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Percent		16.65214%	18.23491%
Total gross liability for unrecognized tax benefits	$ 24.6	$ 21.2
Provisional income tax benefit	84.8
Decrease to income tax expense, remeasurement of deferred tax assets and liabilities	122.0
Increase to income tax expense, transition tax	$ 37.2

Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
Benefit Plans (Details) - USD ($) $ in Millions	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Defined Benefit Plan Disclosure [Line Items]
Multiemployer plan expense	$ 0.2	$ 1.8	$ 0.9	$ 3.6
Non-US
Defined Benefit Plan Disclosure [Line Items]
Service cost	1.4	1.4	2.9	2.8
Interest cost	1.1	0.9	2.2	1.8
Expected return on plan assets	(0.3)	(0.3)	(0.7)	(0.6)
Net actuarial loss	4.1	0.0	4.1	0.0
Net periodic benefit cost	$ 6.3	$ 2.0	$ 8.5	$ 4.0

Share Plans - Share-based Compensation Cost by Award Type (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 3.0	$ 2.6	$ 5.4	$ 8.8
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	1.6	1.4	2.7	3.4
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	0.8	0.7	1.3	2.5
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total share-based compensation expense	$ 0.6	$ 0.5	$ 1.4	$ 2.9

Share Plans - Additional Information (Details) shares in Millions	6 Months Ended
	Jun. 30, 2018 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)	1.4
Grants in period (in shares)	0.9
Weighted average grant date fair value of options (in dollars per share) \| $ / shares	$ 5.04
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	0.3
Weighted average grant date fair value (in dollars per share) \| $ / shares	$ 25.34
Performance share units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	0.2
Weighted average grant date fair value (in dollars per share) \| $ / shares	$ 25.34

Share Plans - Schedule of Valuation Assumptions (Details)	6 Months Ended
	Jun. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk-free interest rate	2.53%
Expected dividend yield	2.94%
Expected share price volatility	25.50%
Expected term (years)	6 years 1 month 7 days

Shareholders' Equity (Details) - Subsequent Event	Jul. 23, 2018 USD ($) $ / shares
Subsequent Event [Line Items]
Repurchase of shares of our common stock up to a maximum aggregate value \| $	$ 500,000,000.0
Dividends payable (in dollars per share) \| $ / shares	$ 0.175

Segment Information - Financial Information by Reportable Segment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Net sales	$ 542.7	$ 513.2	$ 1,081.6	$ 1,015.4
Segment income	65.3	89.5	130.9	157.1
Enclosures
Segment Reporting Information [Line Items]
Net sales	255.6	234.1	509.7	460.6
Segment income	47.9	45.7	88.5	86.0
Thermal Management
Segment Reporting Information [Line Items]
Net sales	139.0	139.9	286.9	285.3
Segment income	30.4	27.6	63.9	53.6
Electrical & Fastening Solutions
Segment Reporting Information [Line Items]
Net sales	148.1	139.2	285.0	269.5
Segment income	40.9	41.3	72.6	73.0
Other
Segment Reporting Information [Line Items]
Segment income	(11.6)	(3.9)	(23.9)	(9.7)
Operating Segments
Segment Reporting Information [Line Items]
Segment income	$ 107.6	$ 110.7	$ 201.1	$ 202.9

Segment Information - Reconciliation of Operating Profit (Losee) from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment income	$ 65.3	$ 89.5	$ 130.9	$ 157.1
Intangible amortization	(15.2)	(15.3)	(30.6)	(30.6)
Net interest expense	(9.3)	(0.1)	(9.9)	(0.2)
Restructuring and other	(2.3)	(3.7)	(5.1)	(13.0)
Other expense	(5.1)	(1.4)	(6.3)	(2.8)
Income before income taxes	50.9	88.0	114.7	154.1
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment income	107.6	110.7	201.1	202.9
Segment Reconciling Items
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Intangible amortization	(15.2)	(15.3)	(30.6)	(30.6)
Separation costs	(24.8)	(2.2)	(34.5)	(2.2)
Net interest expense	(9.3)	(0.1)	(9.9)	(0.2)
Restructuring and other	(2.3)	(3.7)	(5.1)	(13.0)
Other expense	$ (5.1)	$ (1.4)	$ (6.3)	$ (2.8)

Commitments and Contingencies (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Liability for services and product warranties	$ 0.0	$ 0.0
Stand-by Letters of Credit, Bank Guarantees and Bonds
Guarantor Obligations [Line Items]
Obligations outstanding	$ 73.4	$ 72.3