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Document and Entity Information	3 Months Ended
Document and Entity Information	Mar. 31, 2017 shares
Document Information [Line Items]
Entity Registrant Name	PENTAIR plc
Entity Central Index Key	0000077360
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Trading Symbol	PNR
Entity Common Stock, Shares Outstanding	182,245,086

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net sales	$ 1,183.5	$ 1,190.0
Cost of goods sold	761.2	758.7
Gross profit	422.3	431.3
Selling, general and administrative	253.9	250.1
Research and development	30.0	28.5
Operating income	138.4	152.7
Other (income) expense:
Equity income of unconsolidated subsidiaries	(0.2)	(0.4)
Net interest expense	35.0	36.2
Income from continuing operations before income taxes	103.6	116.9
Provision for income taxes	22.9	25.1
Net income from continuing operations	80.7	91.8
Income from discontinued operations, net of tax	7.1	15.6
Net income	87.8	107.4
Comprehensive income, net of tax
Net income	87.8	107.4
Changes in cumulative translation adjustment	75.7	28.0
Changes in market value of derivative financial instruments, net of tax of $0.0 and ($0.5), respectively	1.6	(14.7)
Comprehensive income	$ 165.1	$ 120.7
Earnings per ordinary share
Income (Loss) from Continuing Operations, Per Basic Share	$ 0.44	$ 0.50
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	0.04	0.09
Basic (USD per share)	0.48	0.59
Income (Loss) from Continuing Operations, Per Diluted Share	0.44	0.50
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	0.04	0.09
Diluted (USD per share)	$ 0.48	$ 0.59
Weighted average ordinary shares outstanding
Basic (shares)	182.0	180.7
Diluted (shares)	184.0	182.4
Common Stock, Dividends, Per Share, Cash Paid	$ 0.345	$ 0.33

Condensed Consolidated Statements of Operations and Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Condensed Consolidated Statements of Operations and Comprehensive Income (Parenthetical) [Abstract]
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Tax	$ 0.0	$ (0.5)

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 238.1	$ 238.5
Accounts and notes receivable, net of allowances of $26.1 and $25.6, respectively	914.4	764.0
Inventories	546.0	524.2
Other current assets	264.8	253.4
Current assets held for sale	877.8	891.9
Total current assets	2,841.1	2,672.0
Property, plant and equipment, net	551.9	538.6
Other assets
Goodwill	4,295.3	4,217.4
Intangibles, net	1,622.5	1,631.8
Other non-current assets	195.3	182.1
Non-current assets held for sale	2,311.9	2,292.9
Assets, Noncurrent	8,425.0	8,324.2
Total assets	11,818.0	11,534.8
Current liabilities
Current maturities of long-term debt and short-term borrowings	0.7	0.8
Accounts payable	387.3	436.6
Employee compensation and benefits	148.0	166.1
Other current liabilities	558.6	511.5
Current liabilities held for sale	303.0	356.2
Total current liabilities	1,397.6	1,471.2
Other liabilities
Long-term debt	4,528.9	4,278.4
Pension and other post-retirement compensation and benefits	258.6	253.4
Deferred tax liabilities	602.2	609.5
Other non-current liabilities	149.2	162.0
Total liabilities	506.7	505.9
Total liabilities	7,443.2	7,280.4
Equity
Ordinary shares $0.01 par value, 426.0 authorized, 182.2 and 181.8 issued at March 31, 2017 and December 31, 2016, respectively	1.9	1.8
Additional paid-in capital	2,940.0	2,920.8
Retained earnings	2,091.9	2,068.1
Accumulated other comprehensive loss	(659.0)	(736.3)
Total equity	4,374.8	4,254.4
Total liabilities and equity	$ 11,818.0	$ 11,534.8

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Accounts and notes receivable, allowances	$ 26.1	$ 25.6
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	426.0	426.0
Common shares, issued	182.2	181.8
Treasury stock, shares	0.0	0.0

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Operating activities
Net income	$ 87.8	$ 107.4
Income from discontinued operations, net of tax	(7.1)	(15.6)
Net income from continuing operations	80.7	91.8
Adjustments to reconcile net income from continuing operations to net cash provided by (used for) operating activities of continuing operations
Equity income of unconsolidated subsidiaries	(0.2)	(0.4)
Depreciation	21.4	20.9
Amortization	24.0	24.2
Deferred income taxes	(4.7)	(13.6)
Share-based compensation	16.4	16.1
Excess tax benefits from share-based compensation	0.0	(0.5)
Gain on sale of assets	0.0	2.3
Changes in assets and liabilities, net of effects of business acquisitions
Accounts and notes receivable	(130.6)	(97.5)
Inventories	(8.6)	(9.4)
Other current assets	(18.0)	(42.6)
Accounts payable	(55.9)	(1.3)
Employee compensation and benefits	(23.9)	(16.8)
Other current liabilities	15.8	21.3
Other non-current assets and liabilities	(5.1)	(7.6)
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	(88.7)	(17.7)
Cash Provided by (Used in) Operating Activities, Discontinued Operations	(17.3)	2.7
Net cash provided by (used for) operating activities	(106.0)	(15.0)
Investing activities
Capital expenditures	(23.6)	(32.8)
Proceeds from sale of property and equipment	0.0	5.4
Acquisitions, net of cash acquired	(56.7)	(0.1)
Other	0.0	0.2
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	(80.3)	(27.7)
Cash Provided by (Used in) Investing Activities, Discontinued Operations	(3.7)	(4.3)
Net cash provided by (used for) investing activities	(84.0)	(32.0)
Financing activities
Net (repayments) receipts of short-term borrowings	(0.1)	0.7
Net (repayments) receipts of short-term borrowings	229.1	138.4
Repayments of long-term debt	0.0	(0.7)
Excess tax benefits from share-based compensation	0.0	0.5
Shares issued to employees, net of shares withheld	2.8	(1.6)
Dividends paid	(62.8)	(60.1)
Net cash provided by (used for) financing activities	169.0	77.2
Effect of exchange rate changes on cash and cash equivalents	20.6	1.6
Change in cash and cash equivalents	(0.4)	31.8
Cash and cash equivalents, beginning of period	238.5	126.3
Cash and cash equivalents, end of period	$ 238.1	$ 158.1

Condensed Consolidated Statements of Changes in Equity - USD ($) shares in Millions, $ in Millions	Total	Ordinary shares	Additional paid-in capital	Retained earnings	Accumulated other comprehensive loss
Beginning Balance at Dec. 31, 2015	$ 4,008.8	$ 1.8	$ 2,860.3	$ 1,791.7	$ (645.0)
Beginning Balance (in shares) at Dec. 31, 2015		180.5
Net income	107.4			107.4
Other Comprehensive Income (Loss), Net of Tax	13.3				(13.3)
Dividends declared	(59.8)		0.0	(59.8)
Exercise of options, net of shares tendered for payment	3.2	$ 0.0	3.2
Exercise of options, net of shares tendered for payment (in shares)		0.1
Issuance of restricted shares, net of cancellations	0.0	$ 0.0	0.0
Issuance of restricted shares, net of cancellations (in shares)		0.2
Shares surrendered by employees to pay taxes	(4.8)	$ 0.0	(4.8)
Shares surrendered by employees to pay taxes (in shares)		(0.1)
Share-based compensation	16.1		16.1
Ending Balance (in shares) at Mar. 31, 2016		180.7
Ending Balance at Mar. 31, 2016	4,084.2	$ 1.8	2,874.8	1,839.3	(631.7)
Beginning Balance at Dec. 31, 2016	4,254.4	$ 1.8	2,920.8	2,068.1	(736.3)
Beginning Balance (in shares) at Dec. 31, 2016		181.8
Net income	87.8			87.8
Other Comprehensive Income (Loss), Net of Tax	(77.3)				(77.3)
Dividends declared	(64.0)		0.0	(64.0)
Exercise of options, net of shares tendered for payment	9.5		9.5
Exercise of options, net of shares tendered for payment (in shares)		0.2
Issuance of restricted shares, net of cancellations	0.1	$ 0.1	0.0
Issuance of restricted shares, net of cancellations (in shares)		0.3
Shares surrendered by employees to pay taxes	(6.7)		(6.7)
Shares surrendered by employees to pay taxes (in shares)		(0.1)
Share-based compensation	16.4		16.4
Ending Balance (in shares) at Mar. 31, 2017		182.2
Ending Balance at Mar. 31, 2017	$ 4,374.8	$ 1.9	$ 2,940.0	$ 2,091.9	$ (659.0)

Basis of Presentation and Responsibility for Interim Financial Statements

3 Months Ended

Mar. 31, 2017

Accounting Policies [Abstract]

Basis of Presentation and Responsibility for Interim Financial Statements

The accompanying unaudited condensed consolidated financial statements of Pentair plc (formerly Pentair Ltd.) and its subsidiaries ("we," "us," "our," "Pentair," or "the Company") have been prepared following the requirements of the U.S. Securities and Exchange Commission ("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 can be condensed or omitted.

We are responsible for the unaudited condensed consolidated 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 and operating results. As these are condensed financial statements, one should also read our consolidated financial statements and notes thereto, which are included in our Annual Report on Form 10-K for the year ended December 31, 2016.

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.

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

New accounting standards

In March 2016, the Financial Accounting Standards Board ("FASB") issued a new accounting standard for share-based payments. The guidance simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification of excess tax benefits in the Condensed Consolidated Statements of Cash Flows. We adopted the new standard in the first quarter of 2017. The impact of the adoption resulted in the following:


•	All excess tax benefits and deficiencies arising from employee share-based payment awards, and dividends on those awards, will be recognized within income taxes in the period in which they occur rather than within additional paid-in-capital. Our adoption of this requirement under the new standard had no material impact for the quarter ended March 31, 2017.


•	The Company no longer presents excess tax benefits within cash flows from financing activities in the Condensed Consolidated Statements of Cash Flows; instead these are now reflected within cash flows from operating activities. The Company elected to apply this change prospectively.


•	The Company elected not to change its policy on accounting for forfeitures and continues to estimate the total number of awards for which the requisite service period will not be rendered.


•	The Company excluded the excess tax benefits from the assumed proceeds available to repurchase shares in the computation of our diluted earnings per share for the quarter ended March 31, 2017. This increased diluted weighted average common shares outstanding by less than 200,000 shares for the aforementioned period.

In February 2016, the FASB issued new accounting requirements regarding accounting for leases, which require an entity to recognize both assets and liabilities arising from financing and operating leases, along with additional qualitative and quantitative disclosures. The requirements are effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and early adoption is permitted. We have not yet determined the potential effects on our financial condition or results of operations.

In May 2014, the FASB issued new accounting requirements for the recognition of revenue from contracts with customers. The new requirements also include additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. The requirements are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. The Company intends to adopt the new revenue guidance as of January 1, 2018 and is currently evaluating the overall impact this standard will have on our consolidated financial statements and related disclosures. The Company expects to utilize the modified retrospective transition method of adoption with adjustment to beginning retained earnings for the cumulative effect of the change.

Discontinued Operations

3 Months Ended

Mar. 31, 2017

Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]

Discontinued Operations

On August 18, 2016, we entered into a Share Purchase Agreement (the "Purchase Agreement") to sell our Valves & Controls business to Emerson Electric Co. for a purchase price of $3.15 billion in cash, subject to certain customary adjustments. We expect the sale to close in the second quarter of 2017, subject to customary regulatory approvals and closing conditions.

The results of the Valves & Controls business have been presented as discontinued operations and the related assets and liabilities have been reclassified as held for sale for all periods presented. The Valves & Controls business was previously disclosed as a stand-alone reporting segment. Transaction costs of $11.2 million related to the sale of Valves & Controls were incurred during the three months ended March 31, 2017 and were recorded within Selling, general and administrative expenses in the operating results of discontinued operations presented below.

Operating results of discontinued operations are summarized below:



	Three months ended
In millions	March 31, 2017			March 31, 2016
Net sales	$	356.5		$	387.0
Cost of goods sold	267.9			282.8
Gross profit	88.6			104.2
Selling, general and administrative	79.5			81.5
Research and development	4.2			4.8
Operating income	$	4.9		$	17.9

Income from discontinued operations before income taxes	$	5.7		$	18.2
Income tax (benefit) provision	(1.4		)	2.6
Income from discontinued operations, net of tax	$	7.1		$	15.6

The carrying amounts of major classes of assets and liabilities that were classified as held for sale on the Condensed Consolidated Balance Sheets were as follows:



In millions	March 31, 2017		December 31, 2016
Accounts and notes receivable, net	$	359.3	$	365.4
Inventories	477.6		491.5
Other current assets	40.9		35.0
Current assets held for sale	$	877.8	$	891.9
Property, plant and equipment, net	$	373.2	$	361.5
Goodwill	996.4		996.4
Intangibles, net	706.1		703.5
Asbestos-related insurance receivable	107.4		108.5
Other non-current assets	128.8		123.0
Non-current assets held for sale	$	2,311.9	$	2,292.9
Accounts payable	$	120.1	$	151.4
Employee compensation and benefits	59.6		61.5
Other current liabilities	123.3		143.3
Current liabilities held for sale	$	303.0	$	356.2
Pension and other post-retirement compensation and benefits	$	29.4	$	32.2
Deferred tax liabilities	171.3		162.8
Asbestos-related liabilities	224.6		228.3
Other non-current liabilities	81.4		82.6
Non-current liabilities held for sale	$	506.7	$	505.9

- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

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+ Details

Share Plans

3 Months Ended

Mar. 31, 2017

Share Plans

Total share-based compensation expense for the three months ended March 31, 2017 and 2016 was as follows:



	Three months ended
In millions	March 31, 2017		March 31, 2016
Restricted stock units	$	5.8	$	7.0
Stock options	4.5		5.4
Performance share units	6.1		3.7
Total share-based compensation expense	$	16.4	$	16.1

In the first quarter of 2017, we issued our annual share-based compensation grants under the Pentair plc 2012 Stock and Incentive Plan to eligible employees. The total number of awards issued was approximately 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 $58.93, $12.57 and $58.41, 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:



	2017 Annual Grant
Risk-free interest rate	1.61	%
Expected dividend yield	2.38	%
Expected share price volatility	26.9	%
Expected term (years)	6.3

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.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details

Restructuring

3 Months Ended

Mar. 31, 2017

Restructuring

During the three months ended March 31, 2017 and the year ended December 31, 2016, we continued execution of certain business restructuring initiatives aimed at reducing our fixed cost structure and realigning our business. Initiatives during the three months ended March 31, 2017 included the reduction in hourly and salaried headcount of approximately 200 employees, consisting of approximately 100 in Water and 100 in Electrical. Initiatives during the year ended December 31, 2016 included the reduction in hourly and salaried headcount of approximately 650 employees, consisting of approximately 300 in Water and 350 in Electrical.

Restructuring related costs included in Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) included costs for severance and other restructuring costs as follows:



	Three months ended
In millions	March 31, 2017		March 31, 2016
Severance and related costs	$	20.6	$	0.6
Other	0.3		(0.1		)
Total restructuring costs	$	20.9	$	0.5

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

Restructuring costs (benefits) by reportable segment were as follows:



	Three months ended
In millions	March 31, 2017		March 31, 2016
Water	$	7.1	$	(0.6	)
Electrical	9.3		0.2
Other	4.5		0.9
Consolidated	$	20.9	$	0.5

Activity related to accrued severance and related costs recorded in Other current liabilities in the Condensed Consolidated Balance Sheets is summarized as follows for the three months ended March 31, 2017:



In millions	March 31, 2017
Beginning balance	$	25.4
Costs incurred	20.6
Cash payments and other	(15.9		)
Ending balance	$	30.1

Earnings Per Share

3 Months Ended

Mar. 31, 2016

Earnings Per Share

Basic and diluted earnings per share were calculated as follows:



	Three months ended
In millions, except per-share data	March 31, 2017		March 31, 2016
Net income	$	87.8	$	107.4
Net income from continuing operations	$	80.7	$	91.8
Weighted average ordinary shares outstanding
Basic	182.0		180.7
Dilutive impact of stock options, restricted stock units and performance share units	2.0		1.7
Diluted	184.0		182.4
Earnings per ordinary share
Basic
Continuing operations	$	0.44	$	0.50
Discontinued operations	0.04		0.09
Basic earnings per ordinary share	$	0.48	$	0.59
Diluted
Continuing operations	$	0.44	$	0.50
Discontinued operations	0.04		0.09
Diluted earnings per ordinary share	$	0.48	$	0.59
Anti-dilutive stock options excluded from the calculation of diluted earnings per share	1.8		3.1

Supplemental Balance Sheet Information

3 Months Ended

Mar. 31, 2017

Disclosure Supplemental Balance Sheet Information [Abstract]

Supplemental Balance Sheet Information



In millions	March 31, 2017		December 31, 2016
Inventories
Raw materials and supplies	$	232.7	$	223.5
Work-in-process	71.1		67.3
Finished goods	242.2		233.4
Total inventories	$	546.0	$	524.2
Other current assets
Cost in excess of billings	$	119.2	$	107.7
Prepaid expenses	92.9		68.7
Prepaid income taxes	45.3		67.2
Other current assets	7.4		9.8
Total other current assets	$	264.8	$	253.4
Property, plant and equipment, net
Land and land improvements	$	68.7	$	66.2
Buildings and leasehold improvements	342.0		335.0
Machinery and equipment	958.3		932.5
Construction in progress	75.7		68.6
Total property, plant and equipment	1,444.7		1,402.3
Accumulated depreciation and amortization	892.8		863.7
Total property, plant and equipment, net	$	551.9	$	538.6
Other non-current assets
Deferred income taxes	$	57.1	$	39.0
Deferred compensation plan assets	45.4		47.9
Other non-current assets	92.8		95.2
Total other non-current assets	$	195.3	$	182.1
Other current liabilities
Dividends payable	$	62.9	$	61.8
Accrued warranty	42.0		38.9
Accrued rebates	60.5		78.2
Billings in excess of cost	35.9		22.5
Income taxes payable	98.3		87.3
Accrued restructuring	30.1		25.4
Other current liabilities	228.9		197.4
Total other current liabilities	$	558.6	$	511.5
Other non-current liabilities
Income taxes payable	$	35.0	$	36.1
Self-insurance liabilities	49.7		49.8
Deferred compensation plan liabilities	45.4		47.9
Other non-current liabilities	19.1		28.2
Total other non-current liabilities	$	149.2	$	162.0

Goodwill and Other Identifiable Intangible Assets

3 Months Ended

Mar. 31, 2017

Goodwill and Other Identifiable Intangible Assets

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



In millions	December 31, 2016		Acquisitions/divestitures		Foreign currency translation/other		March 31, 2017
Water	$	1,994.6	$	45.3	$	24.7	$	2,064.6
Electrical	2,222.8		5.3		2.6		2,230.7
Total goodwill	$	4,217.4	$	50.6	$	27.3	$	4,295.3

In January 2017, we completed acquisitions with purchase prices totaling $56.7 million in cash, net of cash acquired. The pro-forma impact of these acquisitions was not material.

Identifiable intangible assets consisted of the following:



	March 31, 2017							December 31, 2016
In millions	Cost		Accumulated amortization			Net		Cost		Accumulated amortization			Net
Finite-life intangibles
Customer relationships	$	1,482.4	$	(366.8	)	$	1,115.6	$	1,478.0	$	(346.7	)	$	1,131.3
Trade names	1.9		(1.5		)	0.4		1.8		(1.4		)	0.4
Proprietary technology and patents	139.8		(95.5		)	44.3		141.3		(100.3		)	41.0
Total finite-life intangibles	1,624.1		(463.8		)	1,160.3		1,621.1		(448.4		)	1,172.7
Indefinite-life intangibles
Trade names	462.2		—			462.2		459.1		—			459.1
Total intangibles, net	$	2,086.3	$	(463.8	)	$	1,622.5	$	2,080.2	$	(448.4	)	$	1,631.8

Intangible asset amortization expense was $24.0 million and $24.2 million for the three months ended March 31, 2017 and 2016.

Estimated future amortization expense for identifiable intangible assets during the remainder of 2017 and the next five years is as follows:



	Q2-Q4
In millions	2017		2018		2019		2020		2021		2022
Estimated amortization expense	$	72.4	$	95.4	$	92.9	$	86.1	$	81.1	$	74.9

- 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

Debt

3 Months Ended

Mar. 31, 2017

Debt

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



In millions	Average interest rate at March 31, 2017	Maturity Year	March 31, 2017			December 31, 2016
Commercial paper	1.962%	2019	$	532.7		$	398.7
Revolving credit facilities	2.446%	2019	671.9			576.8
Senior notes - fixed rate ⁽¹⁾	1.875%	2017	350.0			350.0
Senior notes - fixed rate ⁽¹⁾	2.900%	2018	500.0			500.0
Senior notes - fixed rate ⁽¹⁾	2.650%	2019	250.0			250.0
Senior notes - fixed rate - Euro ⁽¹⁾	2.450%	2019	540.7			520.7
Senior notes - fixed rate ⁽¹⁾	3.625%	2020	400.0			400.0
Senior notes - fixed rate ⁽¹⁾	5.000%	2021	500.0			500.0
Senior notes - fixed rate ⁽¹⁾	3.150%	2022	550.0			550.0
Senior notes - fixed rate ⁽¹⁾	4.650%	2025	250.0			250.0
Other	N/A	N/A	0.7			0.8
Unamortized debt issuance costs and discounts	N/A	N/A	(16.4		)	(17.8		)
Total debt			4,529.6			4,279.2
Less: Current maturities and short-term borrowings			(0.7		)	(0.8		)
Long-term debt			$	4,528.9		$	4,278.4

⁽¹⁾Senior notes are guaranteed as to payment by Pentair plc and PISG

In October 2014, Pentair plc, Pentair Investments Switzerland GmbH ("PISG"), Pentair Finance S.A. ("PFSA") and Pentair, Inc. entered into an amended and restated credit agreement (the "Credit Facility"), with Pentair plc and PISG as guarantors and PFSA and Pentair, Inc. as borrowers. The Credit Facility had a maximum aggregate availability of $2,100.0 million and a maturity date of October 3, 2019. Borrowings under the Credit Facility generally bear interest at a variable rate equal to the London Interbank Offered Rate ("LIBOR") plus a specified margin based upon PFSA's credit ratings. PFSA must pay a facility fee ranging from 9.0 to 25.0 basis points per annum (based upon PFSA's credit ratings) on the amount of each lender's commitment and letter of credit fee for each letter of credit issued and outstanding under the Credit Facility.

In August 2015, Pentair plc, PISG and PFSA entered into a First Amendment to the Credit Facility (the "First Amendment"), which, among other things, increased the Leverage Ratio (as defined below). In September 2015, Pentair plc, PISG and PFSA entered into a Second Amendment to the Credit Facility (the "Second Amendment"), which, among other things, increased the maximum aggregate availability to $2,500.0 million. Additionally, in September 2016, Pentair plc, PISG and PFSA entered into a Third Amendment to the Credit Facility (the "Third Amendment," and collectively with the First Amendment and the Second Amendment, the "Amendments"), which, among other things, increased the Leverage Ratio to the amounts specified below, and amended the definition of EBITDA to include earnings from discontinued operations for operations subject to a sale agreement until such disposition actually occurs.

PFSA is authorized to sell short-term commercial paper notes to the extent availability exists under the Credit Facility. PFSA uses the Credit Facility as back-up liquidity to support 100% of commercial paper outstanding. As of March 31, 2017 and December 31, 2016, PFSA had $532.7 million and $398.7 million, respectively, of commercial paper outstanding, all of which was classified as long-term debt as we have the intent and the ability to refinance such obligations on a long-term basis under the Credit Facility.

Our debt agreements contain certain financial covenants, the most restrictive of which are in the Credit Facility (as updated for the Amendments), including that we may not permit (i) the ratio of our consolidated debt plus synthetic lease obligations to our consolidated net income (excluding, among other things, non-cash gains and losses) before interest, taxes, depreciation, amortization, non-cash share-based compensation expense, and up to a lifetime maximum $25.0 million of costs, fees and expenses incurred in connection with certain acquisitions, investments, dispositions and the issuance, repayment or refinancing of debt, ("EBITDA") for the four consecutive fiscal quarters then ended (the "Leverage Ratio") to exceed (a) 4.25 to 1.00 as of the last day of the period of four consecutive fiscal quarters ending on March 31, 2017; (b) 4.00 to 1.00 as of the last day of the period of four consecutive fiscal quarters ending on June 30, 2017; and (c) 3.50 to 1.00 as of the last day of any period of four consecutive fiscal quarters ending thereafter, and (ii) the ratio of our EBITDA for the four consecutive fiscal quarters then ended to our consolidated interest expense, including consolidated yield or discount accrued as to outstanding securitization obligations (if any), for the same period to be less than 3.00 to 1.00 as of the end of each fiscal quarter. For purposes of the Leverage Ratio, the Credit Facility provides for the calculation of EBITDA giving pro forma effect to certain acquisitions, divestitures and liquidations during the period to which such calculation relates. As of March 31, 2017, we were in compliance with all financial covenants in our debt agreements.

Total availability under the Credit Facility was $1,295.4 million as of March 31, 2017, which was limited to $96.2 million by the maximum Leverage Ratio in the Credit Facility’s credit agreement.

In addition to the Credit Facility, we have various other credit facilities with an aggregate availability of $53.2 million, of which there were no outstanding borrowings at March 31, 2017. Borrowings under these credit facilities bear interest at variable rates.

We have $350.0 million of fixed rate senior notes maturing in September 2017. We classified this debt as long-term as of March 31, 2017 as we have the intent and ability to refinance such obligation on a long-term basis under the Credit Facility.

Debt outstanding, excluding unamortized issuance costs and discounts, at March 31, 2017 matures on a calendar year basis as follows:



	Q2-Q4
In millions	2017		2018		2019		2020		2021		2022		Thereafter		Total
Contractual debt obligation maturities	$	0.7	$	500.0	$	2,345.3	$	400.0	$	500.0	$	550.0	$	250.0	$	4,546.0

Derivatives and Financial Instruments

3 Months Ended

Mar. 31, 2017

Derivatives and Financial Instruments


	Derivatives and Financial Instruments

Derivative financial instruments

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

Foreign currency contracts

We conduct business in various locations throughout the world and are subject to market risk due to changes in the value of foreign currencies in relation to our reporting currency, the U.S. dollar. We manage our economic and transaction exposure to certain market-based risks through the use of foreign currency derivative financial instruments. Our objective in holding these derivatives is to reduce the volatility 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.

At March 31, 2017 and December 31, 2016, we had outstanding foreign currency derivative contracts with gross notional U.S. dollar equivalent amounts of $470.8 million and $475.6 million, respectively. The impact of these contracts on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) is not material for any period presented.

Gains or losses on foreign currency contracts designated as hedges are reclassified out of Accumulated Other Comprehensive Loss ("AOCI") and into Selling, general and administrative expense in the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) upon settlement. Such reclassifications during the three months ended March 31, 2017 and 2016 were not material.

Net investment hedge

We have net investments in foreign subsidiaries that are subject to changes in the foreign currency exchange rate. In September 2015, we designated the €500 million 2.45% Senior Notes due 2019 (the "2019 Euro Notes") as a net investment hedge for a portion of our net investment in our Euro denominated subsidiaries. The gains/losses on the 2019 Euro Notes have been included as a component of the cumulative translation adjustment account within AOCI. As of March 31, 2017 and December 31, 2016, we had deferred foreign currency gains of $24.1 million and $44.2 million, respectively, in AOCI associated with the net investment hedge activity.

Fair value measurements

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



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

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

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

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

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;


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


•	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.

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



	March 31, 2017				December 31, 2016
In millions	Recorded Amount		Fair Value		Recorded Amount		Fair Value
Variable rate debt	$	1,205.3	$	1,205.3	$	976.3	$	976.3
Fixed rate debt	3,340.7		3,451.4		3,320.7		3,427.1
Total debt	$	4,546.0	$	4,656.7	$	4,297.0	$	4,403.4

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



	March 31, 2017
In millions	Level 1		Level 2			Level 3		Total
Recurring fair value measurements
Foreign currency contract assets	$	—	$	2.5		$	—	$	2.5
Foreign currency contract liabilities	—		(13.5		)	—		(13.5		)
Deferred compensation plan assets ⁽¹⁾	39.9		5.5			—		45.4
Total recurring fair value measurements	$	39.9	$	(5.5	)	$	—	$	34.4



	December 31, 2016
In millions	Level 1		Level 2			Level 3		Total
Recurring fair value measurements
Foreign currency contract assets	$	—	$	5.5		$	—	$	5.5
Foreign currency contract liabilities	—		(5.4		)	—		(5.4		)
Deferred compensation plan assets ⁽¹⁾	41.6		6.3			—		47.9
Total recurring fair value measurements	$	41.6	$	6.4		$	—	$	48.0
Nonrecurring fair value measurements ⁽²⁾

(1)

Deferred compensation plan assets include mutual funds, common/collective trusts and cash equivalents for payment of certain non-qualified benefits for retired, terminated and active employees. The fair value of mutual funds and cash equivalents were based on quoted market prices in active markets. The underlying investments in the common/collective trusts primarily include intermediate and long-term debt securities, corporate debt securities, equity securities and fixed income securities. The overall fair value of the common/collective trusts are based on observable inputs.

(2)

During the fourth quarter of 2016, we completed our annual intangible assets impairment review. As a result, we recorded a pre-tax non-cash impairment charge of $13.3 million for a trade name intangible in 2016. The impairment charge reduced the carrying value of the impacted trade name intangible to $0. 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 receive 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

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

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+ Details

Income Taxes

3 Months Ended

Mar. 31, 2017

Income Taxes

We manage our affairs so that we are centrally managed and controlled in the United Kingdom (the "U.K.") and therefore have our tax residency in the U.K. The provision for income taxes consists of provisions for U.K. and international income taxes. We operate in an international environment with operations in various locations outside the U.K. Accordingly, the consolidated income tax rate is a composite rate reflecting the earnings in the various locations and the applicable rates.

The effective income tax rate for the three months ended March 31, 2017 was 22.1%, compared to 21.5% for 2016. We continue to actively pursue initiatives to reduce our effective tax rate. 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 $70.5 million and $71.1 million at March 31, 2017 and December 31, 2016, respectively. We record penalties and interest related to unrecognized tax benefits in Provision for income taxes and Net interest expense, respectively, on the Condensed Consolidated Statements of Operations and Comprehensive Income (Loss), which is consistent with our past practices.

Benefit Plans

3 Months Ended

Mar. 31, 2017

Benefit Plans

Components of net periodic benefit cost for our pension plans for the three months ended March 31, 2017 and 2016 were as follows:



	U.S. pension plans
	Three months ended
In millions	March 31, 2017			March 31, 2016
Service cost	$	2.6		$	2.8
Interest cost	4.1			4.1
Expected return on plan assets	(2.9		)	(2.9		)
Net periodic benefit cost	$	3.8		$	4.0



	Non-U.S. pension plans
	Three months ended
In millions	March 31, 2017			March 31, 2016
Service cost	$	1.8		$	2.1
Interest cost	0.9			1.1
Expected return on plan assets	(0.3		)	(0.4		)
Net periodic benefit cost	$	2.4		$	2.8

Components of net periodic benefit cost for our other post-retirement plans for the three months ended March 31, 2017 and 2016 were not material.

Shareholders' Equity

3 Months Ended

Mar. 31, 2017

Shareholders' Equity

Shareholders’ Equity

Share repurchases

In December 2014, the Board of Directors authorized the repurchase of our ordinary shares up to a maximum dollar limit of $1.0 billion. The authorization expires on December 31, 2019. There were no share repurchases during the three months ended March 31, 2017 and 2016 pursuant to this authorization. As of March 31, 2017, we had $800.0 million available for share repurchases under this authorization.

Dividends payable

On December 6, 2016, the Board of Directors declared a quarterly cash dividend of $0.345 that was paid on February 10, 2017 to shareholders of record at the close of business on January 27, 2017 and approved a plan to increase the 2017 annual cash dividend to $1.38, which is intended to be paid in four equal quarterly installments. Additionally, on February 21, 2017 the Board of Directors declared a quarterly cash dividend of $0.345 payable on May 5, 2017 to shareholders of record at the close of business on April 21, 2017. As a result, the balance of dividends payable included in Other current liabilities on our Consolidated Balance Sheets was $62.9 million and $61.8 million at March 31, 2017 and December 31, 2016, respectively.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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-URI http://asc.fasb.org/extlink&oid=6521494

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+ Details

Segment Information

3 Months Ended

Mar. 31, 2017

Segment Information

During the first quarter of 2017, we reorganized our business segments to reflect a new operating structure, resulting in a change to our reporting segments in 2017. The prior period information was recast to be comparable to the current year presentation.

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 equity income of unconsolidated subsidiaries and operating income exclusive of intangible amortization, certain acquisition related expenses, costs of restructuring activities, "mark-to-market" gain/loss for pension and other post-retirement plans, impairments and other unusual non-operating items.

Financial information by reportable segment is as follows:



	Three months ended
In millions	March 31, 2017			March 31, 2016
Net sales
Water	$	682.9		$	665.7
Electrical	502.2			524.6
Other	(1.6		)	(0.3		)
Consolidated	$	1,183.5		$	1,190.0
Segment income (loss)
Water	$	116.0		$	101.2
Electrical	103.5			112.8
Other	(36.0		)	(36.1		)
Consolidated	$	183.5		$	177.9

The following table presents a reconciliation of consolidated segment income to consolidated income from continuing operations before income taxes:



	Three months ended
In millions	March 31, 2017			March 31, 2016
Segment income	$	183.5		$	177.9
Restructuring and other	(20.9		)	(0.6		)
Intangible amortization	(24.0		)	(24.2		)
Net interest expense	(35.0		)	(36.2		)
Income from continuing operations before income taxes	$	103.6		$	116.9

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Commitments and Contingencies

3 Months Ended

Mar. 31, 2017

Commitments and Contingencies

Asbestos matters

Our subsidiaries and numerous other companies are named as defendants in personal injury lawsuits based on alleged exposure to asbestos-containing materials. These cases typically involve product liability claims based primarily on allegations of manufacture, sale or distribution of industrial products that either contained asbestos or were attached to or used with asbestos-containing components manufactured by third-parties. Each case typically names between dozens to hundreds of corporate defendants. While we have observed an increase in the number of these lawsuits over the past several years, including lawsuits by plaintiffs with mesothelioma-related claims, a large percentage of these suits have not presented viable legal claims and, as a result, have been dismissed by the courts. Our historical strategy has been to mount a vigorous defense aimed at having unsubstantiated suits dismissed, and, where appropriate, settling suits before trial. Although a large percentage of litigated suits have been dismissed, we cannot predict the extent to which we will be successful in resolving lawsuits in the future.

As of March 31, 2017, there were approximately 3,300 claims outstanding against our subsidiaries, of which approximately 2,800 relate to the Valves & Control business classified as held for sale. These amounts include adjustments for claims that are not actively being prosecuted. The amounts are not adjusted for claims that identify incorrect defendants or duplicate other actions. In addition, the amounts do not include certain claims pending against third parties for which we have been provided an indemnification.

Periodically, we perform an analysis with the assistance of outside counsel and other experts to update our estimated asbestos-related assets and liabilities. Our estimate of the liability and corresponding insurance recovery for pending and future claims and defense costs is based on our historical claim experience and estimates of the number and resolution cost of potential future claims that may be filed. Our legal strategy for resolving claims also impacts these estimates.

Our estimate of asbestos-related insurance recoveries represents estimated amounts due to us for previously paid and settled claims and the probable reimbursements relating to our estimated liability for pending and future claims. In determining the amount of insurance recoverable, we consider a number of factors, including available insurance, allocation methodologies and the solvency and creditworthiness of insurers.

Our estimated liability for asbestos-related claims was $224.6 million and $228.3 million as of March 31, 2017 and December 31, 2016, respectively, and was recorded in Non-current liabilities held for sale in the Condensed Consolidated Balance Sheets for pending and future claims and related defense costs. Our estimated receivable for insurance recoveries was $107.4 million and $108.5 million as of March 31, 2017 and December 31, 2016, respectively, and was recorded in Non-current assets held for sale in the Condensed Consolidated Balance Sheets.

The amounts recorded by us for asbestos-related liabilities and insurance-related assets are based on our strategies for resolving our asbestos claims and currently available information as well as estimates and assumptions. Key variables and assumptions include the number and type of new claims filed each year, the average cost of resolution of claims, the resolution of coverage issues with insurance carriers, the amounts of insurance and the related solvency risk with respect to our insurance carriers, and the indemnifications we have provided to and received from third parties. Furthermore, predictions with respect to these variables are subject to greater uncertainty in the latter portion of the projection period. Other factors that may affect our liability and cash payments for asbestos-related matters include uncertainties surrounding the litigation process from jurisdiction to jurisdiction and from case to case, reforms of state or federal tort legislation and the applicability of insurance policies among subsidiaries. As a result, actual liabilities or insurance recoveries could be significantly higher or lower than those recorded if assumptions used in our calculations vary significantly from actual results.

Environmental matters

We are involved in or have retained responsibility and potential liability for environmental obligations and legal proceedings related to our current business and, including pursuant to certain indemnification obligations, related to certain formerly owned businesses. Our accruals for environmental matters are recorded on a site-by-site basis when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated, based on current law and existing technologies. Based upon our experience, current information regarding known contingencies and applicable laws, we have recorded reserves for these environmental matters of $17.6 million and $18.3 million as of March 31, 2017 and December 31, 2016, respectively, which relate primarily to the Valves & Controls business classified as held for sale. We do not anticipate these environmental conditions will have a material adverse effect on our financial position, results of operations or cash flows.

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 condition or results of operations.

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.

The changes in the carrying amount of service and product warranties of continuing operations for the three months ended March 31, 2017 were as follows:



In millions	March 31, 2017
Beginning balance	$	38.9
Service and product warranty provision	13.9
Payments	(12.6		)
Acquisitions	1.6
Foreign currency translation	0.2
Ending balance	$	42.0

Stand-by letters of credit, bank guarantees and bonds

In certain situations, Tyco International Ltd., Pentair Ltd.'s former parent company ("Tyco"), guaranteed performance by the flow control business of Pentair Ltd. ("Flow Control") to third parties or provided financial guarantees for financial commitments of Pentair Ltd. In situations where Flow Control and Tyco were unable to obtain a release from these guarantees in connection with the spin-off of Pentair Ltd., we will indemnify Tyco for any losses it suffers as a result of such guarantees.

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 March 31, 2017 and December 31, 2016, the outstanding value of bonds, letters of credit and bank guarantees totaled $353.9 million and $331.0 million, respectively, of which $149.1 million and $156.6 million, respectively, relate to the Valves & Controls business classified as held for sale.

Financial Statements of Parent Company Guarantor

3 Months Ended

Mar. 31, 2017

Financial Statements of Parent Company Guarantor

Pentair plc (the "Parent Company Guarantor") and PISG (the "Subsidiary Guarantor"), fully and unconditionally, guarantee the Notes of PFSA (the "Subsidiary Issuer"). The Subsidiary Guarantor is a Switzerland limited liability company and 100 percent-owned subsidiary of the Parent Company Guarantor. The Subsidiary Issuer is a Luxembourg public limited liability company and 100 percent-owned subsidiary of the Subsidiary Guarantor. The guarantees provided by the Parent Company Guarantor and Subsidiary Guarantor are joint and several.

The following supplemental financial information sets forth the Company’s Condensed Consolidating Statement of Operations and Comprehensive Income (Loss), Condensed Consolidating Balance Sheets and Condensed Consolidating Statement of Cash Flows by relevant group within the Company: Pentair plc and PISG as the guarantors, PFSA as issuer of the debt and all other non-guarantor subsidiaries. Condensed consolidating financial information for Pentair plc, PISG and PFSA on a stand-alone basis is presented using the equity method of accounting for subsidiaries.

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)

Three months ended March 31, 2017



In millions	Parent Company Guarantor			Subsidiary Guarantor			Subsidiary Issuer			Non-guarantor Subsidiaries			Eliminations			Consolidated Total
Net sales	$	—		$	—		$	—		$	1,183.5		$	—		$	1,183.5
Cost of goods sold	—			—			—			761.2			—			761.2
Gross profit	—			—			—			422.3			—			422.3
Selling, general and administrative	(11.0		)	0.1			0.4			264.4			—			253.9
Research and development	—			—			—			30.0			—			30.0
Operating income (loss)	11.0			(0.1		)	(0.4		)	127.9			—			138.4
Loss (earnings) from continuing operations of investment in subsidiaries	(69.7		)	(69.7		)	(98.5		)	—			237.9			—
Other (income) expense:
Equity income of unconsolidated subsidiaries	—			—			—			(0.2		)	—			(0.2		)
Net interest expense (income)	—			(0.1		)	28.4			6.7			—			35.0
Income (loss) from continuing operations before income taxes	80.7			69.7			69.7			121.4			(237.9		)	103.6
Provision for income taxes	—			—			—			22.9			—			22.9
Net income (loss) from continuing operations	80.7			69.7			69.7			98.5			(237.9		)	80.7
Income from discontinued operations, net of tax	—			—			—			7.1			—			7.1
Earnings (loss) from discontinued operations of investment in subsidiaries	7.1			7.1			7.1			—			(21.3		)	—
Net income (loss)	$	87.8		$	76.8		$	76.8		$	105.6		$	(259.2	)	$	87.8
Comprehensive income (loss), net of tax
Net income (loss)	$	87.8		$	76.8		$	76.8		$	105.6		$	(259.2	)	$	87.8
Changes in cumulative translation adjustment	75.7			75.7			75.7			75.7			(227.1		)	75.7
Changes in market value of derivative financial instruments, net of tax	1.6			1.6			1.6			1.6			(4.8		)	1.6
Comprehensive income (loss)	$	165.1		$	154.1		$	154.1		$	182.9		$	(491.1	)	$	165.1

Condensed Consolidating Balance Sheet

March 31, 2017



In millions	Parent Company Guarantor		Subsidiary Guarantor		Subsidiary Issuer		Non-guarantor Subsidiaries		Eliminations			Consolidated Total
Assets
Current assets
Cash and cash equivalents	$	—	$	—	$	0.1	$	238.0	$	—		$	238.1
Accounts and notes receivable, net	—		—		—		914.4		—			914.4
Inventories	—		—		—		546.0		—			546.0
Other current assets	1.3		3.1		4.0		268.1		(11.7		)	264.8
Current assets held for sale	—		—		—		877.8		—			877.8
Total current assets	1.3		3.1		4.1		2,844.3		(11.7		)	2,841.1
Property, plant and equipment, net	—		—		—		551.9		—			551.9
Other assets
Investments in subsidiaries	4,691.2		4,653.2		9,500.9		—		(18,845.3		)	—
Goodwill	—		—		—		4,295.3		—			4,295.3
Intangibles, net	—		—		—		1,622.5		—			1,622.5
Other non-current assets	2.2		36.2		869.0		1,495.9		(2,208.0		)	195.3
Non-current assets held for sale	—		—		—		2,311.9		—			2,311.9
Total other assets	4,693.4		4,689.4		10,369.9		9,725.6		(21,053.3		)	8,425.0
Total assets	$	4,694.7	$	4,692.5	$	10,374.0	$	13,121.8	$	(21,065.0	)	$	11,818.0
Liabilities and Equity
Current liabilities
Current maturities of long-term debt and short-term borrowings	$	—	$	—	$	—	$	0.7	$	—		$	0.7
Accounts payable	—		—		—		387.3		—			387.3
Employee compensation and benefits	1.1		—		—		146.9		—			148.0
Other current liabilities	71.3		1.3		20.9		476.8		(11.7		)	558.6
Current liabilities held for sale	—		—		—		303.0		—			303.0
Total current liabilities	72.4		1.3		20.9		1,314.7		(11.7		)	1,397.6
Other liabilities
Long-term debt	247.0		—		5,699.6		790.3		(2,208.0		)	4,528.9
Pension and other post-retirement compensation and benefits	—		—		—		258.6		—			258.6
Deferred tax liabilities	—		—		—		602.2		—			602.2
Other non-current liabilities	0.5		—		—		148.7		—			149.2
Non-current liabilities held for sale	—		—		—		506.7		—			506.7
Total liabilities	319.9		1.3		5,720.5		3,621.2		(2,219.7		)	7,443.2
Equity	4,374.8		4,691.2		4,653.5		9,500.6		(18,845.3		)	4,374.8
Total liabilities and equity	$	4,694.7	$	4,692.5	$	10,374.0	$	13,121.8	$	(21,065.0	)	$	11,818.0

Condensed Consolidating Statement of Cash Flows

Three months ended March 31, 2017



In millions	Parent Company Guarantor			Subsidiary Guarantor			Subsidiary Issuer			Non-guarantor Subsidiaries			Eliminations			Consolidated Total
Operating activities
Net cash provided by (used for) operating activities	$	49.8		$	75.1		$	69.5		$	(41.0	)	$	(259.4	)	$	(106.0	)
Investing activities
Capital expenditures	—			—			—			(23.6		)	—			(23.6		)
Acquisitions, net of cash acquired	—			—			—			(56.7		)	—			(56.7		)
Net intercompany loan activity	—			—			(530.4		)	(290.2		)	820.6			—
Net cash provided by (used for) investing activities of continuing operations	—			—			(530.4		)	(370.5		)	820.6			(80.3		)
Net cash provided by (used for) investing activities of discontinued operations	—			—			—			(3.7		)	—			(3.7		)
Net cash provided by (used for) investing activities	—			—			(530.4		)	(374.2		)	820.6			(84.0		)
Financing activities
Net repayments of short-term borrowings	—			—			—			(0.1		)	—			(0.1		)
Net receipts (repayments) of commercial paper and revolving long-term debt	—			—			234.0			(4.9		)	—			229.1
Net change in advances to subsidiaries	10.2			(75.1		)	206.9			419.2			(561.2		)	—
Shares issued to employees, net of shares withheld	2.8			—			—			—			—			2.8
Dividends paid	(62.8		)	—			—			—			—			(62.8		)
Net cash provided by (used for) financing activities	(49.8		)	(75.1		)	440.9			414.2			(561.2		)	169.0
Effect of exchange rate changes on cash and cash equivalents	—			—			20.1			0.5			—			20.6
Change in cash and cash equivalents	—			—			0.1			(0.5		)	—			(0.4		)
Cash and cash equivalents, beginning of period	—			—			—			238.5			—			238.5
Cash and cash equivalents, end of period	$	—		$	—		$	0.1		$	238.0		$	—		$	238.1

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)

Three months ended March 31, 2016




In millions	Parent Company Guarantor			Subsidiary Guarantor			Subsidiary Issuer			Non-guarantor Subsidiaries			Eliminations			Consolidated Total
Net sales	$	—		$	—		$	—		$	1,190.0		$	—		$	1,190.0
Cost of goods sold	—			—			—			758.7			—			758.7
Gross profit	—			—			—			431.3			—			431.3
Selling, general and administrative	7.2			—			0.9			242.0			—			250.1
Research and development	—			—			—			28.5			—			28.5
Operating income (loss)	(7.2		)	—			(0.9		)	160.8			—			152.7
Loss (earnings) from continuing operations of investment in subsidiaries	(99.0		)	(99.0		)	(127.3		)	—			325.3			—
Other (income) expense:
Equity income of unconsolidated subsidiaries	—			—			—			(0.4		)	—			(0.4		)
Net interest expense	—			—			27.4			8.8			—			36.2
Income (loss) from continuing operations before income taxes	91.8			99.0			99.0			152.4			(325.3		)	116.9
Provision for income taxes	—			—			—			25.1			—			25.1
Net income (loss) from continuing operations	91.8			99.0			99.0			127.3			(325.3		)	91.8
Income from discontinued operations, net of tax	—			—			—			15.6			—			15.6
Earnings (loss) from discontinued operations of investment in subsidiaries	15.6			15.6			15.6			—			(46.8		)	—
Net income (loss)	$	107.4		$	114.6		$	114.6		$	142.9		$	(372.1	)	$	107.4
Comprehensive income (loss), net of tax
Net income (loss)	$	107.4		$	114.6		$	114.6		$	142.9		$	(372.1	)	$	107.4
Changes in cumulative translation adjustment	28.0			28.0			28.0			28.0			(84.0		)	28.0
Changes in market value of derivative financial instruments, net of tax	(14.7		)	(14.7		)	(14.7		)	(14.7		)	44.1			(14.7		)
Comprehensive income (loss)	$	120.7		$	127.9		$	127.9		$	156.2		$	(412.0	)	$	120.7

Condensed Consolidating Balance Sheet

December 31, 2016



In millions	Parent Company Guarantor		Subsidiary Guarantor		Subsidiary Issuer		Non-guarantor Subsidiaries		Eliminations			Consolidated Total
Assets
Current assets
Cash and cash equivalents	$	—	$	—	$	—	$	238.5	$	—		$	238.5
Accounts and notes receivable, net	0.1		—		—		763.9		—			764.0
Inventories	—		—		—		524.2		—			524.2
Other current assets	1.2		4.1		1.1		237.8		9.2			253.4
Current assets held for sale	—		—		—		891.9		—			891.9
Total current assets	1.3		4.1		1.1		2,656.3		9.2			2,672.0
Property, plant and equipment, net	—		—		—		538.6		—			538.6
Other assets
Investments in subsidiaries	4,509.5		4,471.4		9,295.5		—		(18,276.4		)	—
Goodwill	—		—		—		4,217.4		—			4,217.4
Intangibles, net	—		—		—		1,631.8		—			1,631.8
Other non-current assets	2.2		35.2		717.8		1,568.9		(2,142.0		)	182.1
Non-current assets held for sale	—		—		—		2,292.9		—			2,292.9
Total other assets	4,511.7		4,506.6		10,013.3		9,711.0		(20,418.4		)	8,324.2
Total assets	$	4,513.0	$	4,510.7	$	10,014.4	$	12,905.9	$	(20,409.2	)	$	11,534.8
Liabilities and Equity
Current liabilities
Current maturities of long-term debt and short-term borrowings	$	—	$	—	$	—	$	0.8	$	—		$	0.8
Accounts payable	0.7		—		0.1		435.8		—			436.6
Employee compensation and benefits	0.8		—		—		165.3		—			166.1
Other current liabilities	95.2		1.2		26.7		379.2		9.2			511.5
Current liabilities held for sale	—		—		—		356.2		—			356.2
Total current liabilities	96.7		1.2		26.8		1,337.3		9.2			1,471.2
Other liabilities
Long-term debt	148.1		—		5,515.9		756.4		(2,142.0		)	4,278.4
Pension and other post-retirement compensation and benefits	—		—		—		253.4		—			253.4
Deferred tax liabilities	—		—		—		609.5		—			609.5
Other non-current liabilities	13.8		—		—		148.2		—			162.0
Non-current liabilities held for sale	—		—		—		505.9		—			505.9
Total liabilities	258.6		1.2		5,542.7		3,610.7		(2,132.8		)	7,280.4
Equity	4,254.4		4,509.5		4,471.7		9,295.2		(18,276.4		)	4,254.4
Total liabilities and equity	$	4,513.0	$	4,510.7	$	10,014.4	$	12,905.9	$	(20,409.2	)	$	11,534.8

Condensed Consolidating Statement of Cash Flows

Three months ended March 31, 2016



In millions	Parent Company Guarantor			Subsidiary Guarantor			Subsidiary Issuer			Non-guarantor Subsidiaries			Eliminations			Consolidated Total
Operating activities
Net cash provided by (used for) operating activities	$	126.6		$	98.7		$	105.3		$	26.4		$	(372.0	)	$	(15.0	)
Investing activities
Capital expenditures	—			—			—			(32.8		)	—			(32.8		)
Proceeds from sale of property and equipment	—			—			—			5.4			—			5.4
Acquisitions, net of cash acquired	—			—			—			(0.1		)	—			(0.1		)
Net intercompany loan activity	—			—			(6.5		)	126.0			(119.5		)	—
Other	—			—			—			(0.2		)	—			(0.2		)
Net cash provided by (used for) investing activities of continuing operations	—			—			(6.5		)	98.3			(119.5		)	(27.7		)
Net cash provided by (used for) investing activities of discontinued operations	—			—			—			(4.3		)	—			(4.3		)
Net cash provided by (used for) investing activities	—			—			(6.5		)	94.0			(119.5		)	(32.0		)
Financing activities
Net receipts of short-term borrowings	—			—			—			0.7			—			0.7
Net receipts (repayments) of commercial paper and revolving long-term debt	—			—			164.8			(26.4		)	—			138.4
Repayments of long-term debt	—			—			—			(0.7		)	—			(0.7		)
Net change in advances to subsidiaries	(64.9		)	(98.7		)	(275.1		)	(52.8		)	491.5			—
Excess tax benefits from share-based compensation	—			—			—			0.5			—			0.5
Shares issued to employees, net of shares withheld	(1.6		)	—			—			—			—			(1.6		)
Dividends paid	(60.1		)	—			—			—			—			(60.1		)
Net cash provided by (used for) financing activities	(126.6		)	(98.7		)	(110.3		)	(78.7		)	491.5			77.2
Effect of exchange rate changes on cash and cash equivalents	—			—			11.4			(9.8		)	—			1.6
Change in cash and cash equivalents	—			—			(0.1		)	31.9			—			31.8
Cash and cash equivalents, beginning of period	—			—			0.1			126.2			—			126.3
Cash and cash equivalents, end of period	$	—		$	—		$	—		$	158.1		$	—		$	158.1

Discontinued Operations (Tables)

3 Months Ended

Mar. 31, 2017

Disposal Groups, Including Discontinued Operations [Table Text Block]

Operating results of discontinued operations are summarized below:



	Three months ended
In millions	March 31, 2017			March 31, 2016
Net sales	$	356.5		$	387.0
Cost of goods sold	267.9			282.8
Gross profit	88.6			104.2
Selling, general and administrative	79.5			81.5
Research and development	4.2			4.8
Operating income	$	4.9		$	17.9

Income from discontinued operations before income taxes	$	5.7		$	18.2
Income tax (benefit) provision	(1.4		)	2.6
Income from discontinued operations, net of tax	$	7.1		$	15.6

The carrying amounts of major classes of assets and liabilities that were classified as held for sale on the Condensed Consolidated Balance Sheets were as follows:



In millions	March 31, 2017		December 31, 2016
Accounts and notes receivable, net	$	359.3	$	365.4
Inventories	477.6		491.5
Other current assets	40.9		35.0
Current assets held for sale	$	877.8	$	891.9
Property, plant and equipment, net	$	373.2	$	361.5
Goodwill	996.4		996.4
Intangibles, net	706.1		703.5
Asbestos-related insurance receivable	107.4		108.5
Other non-current assets	128.8		123.0
Non-current assets held for sale	$	2,311.9	$	2,292.9
Accounts payable	$	120.1	$	151.4
Employee compensation and benefits	59.6		61.5
Other current liabilities	123.3		143.3
Current liabilities held for sale	$	303.0	$	356.2
Pension and other post-retirement compensation and benefits	$	29.4	$	32.2
Deferred tax liabilities	171.3		162.8
Asbestos-related liabilities	224.6		228.3
Other non-current liabilities	81.4		82.6
Non-current liabilities held for sale	$	506.7	$	505.9

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=64862545&loc=SL51724579-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
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-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2941-110230

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
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-URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760

+ Details

Share Plans (Tables)

3 Months Ended

Mar. 31, 2017

Share-based Compensation Expense

Total share-based compensation expense for the three months ended March 31, 2017 and 2016 was as follows:



	Three months ended
In millions	March 31, 2017		March 31, 2016
Restricted stock units	$	5.8	$	7.0
Stock options	4.5		5.4
Performance share units	6.1		3.7
Total share-based compensation expense	$	16.4	$	16.1

Assumptions Used in Calculating Estimated Fair Value of Stock Option Award



	2017 Annual Grant
Risk-free interest rate	1.61	%
Expected dividend yield	2.38	%
Expected share price volatility	26.9	%
Expected term (years)	6.3

Restructuring (Tables)

3 Months Ended

Mar. 31, 2017

Restructuring Related Costs



	Three months ended
In millions	March 31, 2017		March 31, 2016
Severance and related costs	$	20.6	$	0.6
Other	0.3		(0.1		)
Total restructuring costs	$	20.9	$	0.5

Restructuring Costs By Segment [Table Text Block]

Restructuring costs (benefits) by reportable segment were as follows:



	Three months ended
In millions	March 31, 2017		March 31, 2016
Water	$	7.1	$	(0.6	)
Electrical	9.3		0.2
Other	4.5		0.9
Consolidated	$	20.9	$	0.5

Restructuring Accrual Activity Recorded on Consolidated Balance Sheets



In millions	March 31, 2017
Beginning balance	$	25.4
Costs incurred	20.6
Cash payments and other	(15.9		)
Ending balance	$	30.1

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2016

Basic and Diluted Earnings Per Share

Basic and diluted earnings per share were calculated as follows:



	Three months ended
In millions, except per-share data	March 31, 2017		March 31, 2016
Net income	$	87.8	$	107.4
Net income from continuing operations	$	80.7	$	91.8
Weighted average ordinary shares outstanding
Basic	182.0		180.7
Dilutive impact of stock options, restricted stock units and performance share units	2.0		1.7
Diluted	184.0		182.4
Earnings per ordinary share
Basic
Continuing operations	$	0.44	$	0.50
Discontinued operations	0.04		0.09
Basic earnings per ordinary share	$	0.48	$	0.59
Diluted
Continuing operations	$	0.44	$	0.50
Discontinued operations	0.04		0.09
Diluted earnings per ordinary share	$	0.48	$	0.59
Anti-dilutive stock options excluded from the calculation of diluted earnings per share	1.8		3.1

Supplemental Balance Sheet Information (Tables)

3 Months Ended

Mar. 31, 2017

Disclosure Supplemental Balance Sheet Information [Abstract]

Supplemental Balance Sheet Information



In millions	March 31, 2017		December 31, 2016
Inventories
Raw materials and supplies	$	232.7	$	223.5
Work-in-process	71.1		67.3
Finished goods	242.2		233.4
Total inventories	$	546.0	$	524.2
Other current assets
Cost in excess of billings	$	119.2	$	107.7
Prepaid expenses	92.9		68.7
Prepaid income taxes	45.3		67.2
Other current assets	7.4		9.8
Total other current assets	$	264.8	$	253.4
Property, plant and equipment, net
Land and land improvements	$	68.7	$	66.2
Buildings and leasehold improvements	342.0		335.0
Machinery and equipment	958.3		932.5
Construction in progress	75.7		68.6
Total property, plant and equipment	1,444.7		1,402.3
Accumulated depreciation and amortization	892.8		863.7
Total property, plant and equipment, net	$	551.9	$	538.6
Other non-current assets
Deferred income taxes	$	57.1	$	39.0
Deferred compensation plan assets	45.4		47.9
Other non-current assets	92.8		95.2
Total other non-current assets	$	195.3	$	182.1
Other current liabilities
Dividends payable	$	62.9	$	61.8
Accrued warranty	42.0		38.9
Accrued rebates	60.5		78.2
Billings in excess of cost	35.9		22.5
Income taxes payable	98.3		87.3
Accrued restructuring	30.1		25.4
Other current liabilities	228.9		197.4
Total other current liabilities	$	558.6	$	511.5
Other non-current liabilities
Income taxes payable	$	35.0	$	36.1
Self-insurance liabilities	49.7		49.8
Deferred compensation plan liabilities	45.4		47.9
Other non-current liabilities	19.1		28.2
Total other non-current liabilities	$	149.2	$	162.0

Goodwill and Other Identifiable Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2017

Carrying Amount of Goodwill by Segment

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



In millions	December 31, 2016		Acquisitions/divestitures		Foreign currency translation/other		March 31, 2017
Water	$	1,994.6	$	45.3	$	24.7	$	2,064.6
Electrical	2,222.8		5.3		2.6		2,230.7
Total goodwill	$	4,217.4	$	50.6	$	27.3	$	4,295.3

Detail of Identifiable Intangible Assets

Identifiable intangible assets consisted of the following:



	March 31, 2017							December 31, 2016
In millions	Cost		Accumulated amortization			Net		Cost		Accumulated amortization			Net
Finite-life intangibles
Customer relationships	$	1,482.4	$	(366.8	)	$	1,115.6	$	1,478.0	$	(346.7	)	$	1,131.3
Trade names	1.9		(1.5		)	0.4		1.8		(1.4		)	0.4
Proprietary technology and patents	139.8		(95.5		)	44.3		141.3		(100.3		)	41.0
Total finite-life intangibles	1,624.1		(463.8		)	1,160.3		1,621.1		(448.4		)	1,172.7
Indefinite-life intangibles
Trade names	462.2		—			462.2		459.1		—			459.1
Total intangibles, net	$	2,086.3	$	(463.8	)	$	1,622.5	$	2,080.2	$	(448.4	)	$	1,631.8

Estimated Future Amortization Expense for Identifiable Intangible Assets

Estimated future amortization expense for identifiable intangible assets during the remainder of 2017 and the next five years is as follows:



	Q2-Q4
In millions	2017		2018		2019		2020		2021		2022
Estimated amortization expense	$	72.4	$	95.4	$	92.9	$	86.1	$	81.1	$	74.9

Debt (Tables)

3 Months Ended

Mar. 31, 2017

Debt and Average Interest Rates on Debt Outstanding

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



In millions	Average interest rate at March 31, 2017	Maturity Year	March 31, 2017			December 31, 2016
Commercial paper	1.962%	2019	$	532.7		$	398.7
Revolving credit facilities	2.446%	2019	671.9			576.8
Senior notes - fixed rate ⁽¹⁾	1.875%	2017	350.0			350.0
Senior notes - fixed rate ⁽¹⁾	2.900%	2018	500.0			500.0
Senior notes - fixed rate ⁽¹⁾	2.650%	2019	250.0			250.0
Senior notes - fixed rate - Euro ⁽¹⁾	2.450%	2019	540.7			520.7
Senior notes - fixed rate ⁽¹⁾	3.625%	2020	400.0			400.0
Senior notes - fixed rate ⁽¹⁾	5.000%	2021	500.0			500.0
Senior notes - fixed rate ⁽¹⁾	3.150%	2022	550.0			550.0
Senior notes - fixed rate ⁽¹⁾	4.650%	2025	250.0			250.0
Other	N/A	N/A	0.7			0.8
Unamortized debt issuance costs and discounts	N/A	N/A	(16.4		)	(17.8		)
Total debt			4,529.6			4,279.2
Less: Current maturities and short-term borrowings			(0.7		)	(0.8		)
Long-term debt			$	4,528.9		$	4,278.4

⁽¹⁾Senior notes are guaranteed as to payment by Pentair plc and PISG

Debt Outstanding Matures on Calendar Year Basis

Debt outstanding, excluding unamortized issuance costs and discounts, at March 31, 2017 matures on a calendar year basis as follows:



	Q2-Q4
In millions	2017		2018		2019		2020		2021		2022		Thereafter		Total
Contractual debt obligation maturities	$	0.7	$	500.0	$	2,345.3	$	400.0	$	500.0	$	550.0	$	250.0	$	4,546.0

Derivatives and Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2017

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:



	March 31, 2017				December 31, 2016
In millions	Recorded Amount		Fair Value		Recorded Amount		Fair Value
Variable rate debt	$	1,205.3	$	1,205.3	$	976.3	$	976.3
Fixed rate debt	3,340.7		3,451.4		3,320.7		3,427.1
Total debt	$	4,546.0	$	4,656.7	$	4,297.0	$	4,403.4

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:



	March 31, 2017
In millions	Level 1		Level 2			Level 3		Total
Recurring fair value measurements
Foreign currency contract assets	$	—	$	2.5		$	—	$	2.5
Foreign currency contract liabilities	—		(13.5		)	—		(13.5		)
Deferred compensation plan assets ⁽¹⁾	39.9		5.5			—		45.4
Total recurring fair value measurements	$	39.9	$	(5.5	)	$	—	$	34.4



	December 31, 2016
In millions	Level 1		Level 2			Level 3		Total
Recurring fair value measurements
Foreign currency contract assets	$	—	$	5.5		$	—	$	5.5
Foreign currency contract liabilities	—		(5.4		)	—		(5.4		)
Deferred compensation plan assets ⁽¹⁾	41.6		6.3			—		47.9
Total recurring fair value measurements	$	41.6	$	6.4		$	—	$	48.0
Nonrecurring fair value measurements ⁽²⁾

(1)

(2)

- 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
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823

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-Subparagraph (SX 210.4-08.(e),(f))
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-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=6928386&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=6928386&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=6928386&loc=d3e21521-112644

+ Details

Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Net Benefit Costs



	U.S. pension plans
	Three months ended
In millions	March 31, 2017			March 31, 2016
Service cost	$	2.6		$	2.8
Interest cost	4.1			4.1
Expected return on plan assets	(2.9		)	(2.9		)
Net periodic benefit cost	$	3.8		$	4.0



	Non-U.S. pension plans
	Three months ended
In millions	March 31, 2017			March 31, 2016
Service cost	$	1.8		$	2.1
Interest cost	0.9			1.1
Expected return on plan assets	(0.3		)	(0.4		)
Net periodic benefit cost	$	2.4		$	2.8

Segment Information (Tables)

3 Months Ended

Mar. 31, 2017

Financial Information by Reportable Segment

Financial information by reportable segment is as follows:



	Three months ended
In millions	March 31, 2017			March 31, 2016
Net sales
Water	$	682.9		$	665.7
Electrical	502.2			524.6
Other	(1.6		)	(0.3		)
Consolidated	$	1,183.5		$	1,190.0
Segment income (loss)
Water	$	116.0		$	101.2
Electrical	103.5			112.8
Other	(36.0		)	(36.1		)
Consolidated	$	183.5		$	177.9

Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block]

The following table presents a reconciliation of consolidated segment income to consolidated income from continuing operations before income taxes:



	Three months ended
In millions	March 31, 2017			March 31, 2016
Segment income	$	183.5		$	177.9
Restructuring and other	(20.9		)	(0.6		)
Intangible amortization	(24.0		)	(24.2		)
Net interest expense	(35.0		)	(36.2		)
Income from continuing operations before income taxes	$	103.6		$	116.9

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2017

Changes in Carrying Amount of Service and Product Warranties

The changes in the carrying amount of service and product warranties of continuing operations for the three months ended March 31, 2017 were as follows:



In millions	March 31, 2017
Beginning balance	$	38.9
Service and product warranty provision	13.9
Payments	(12.6		)
Acquisitions	1.6
Foreign currency translation	0.2
Ending balance	$	42.0

Financial Statements of Parent Company Guarantor (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)

ondensed Consolidating Statement of Operations and Comprehensive Income (Loss)

Three months ended March 31, 2017



In millions	Parent Company Guarantor			Subsidiary Guarantor			Subsidiary Issuer			Non-guarantor Subsidiaries			Eliminations			Consolidated Total
Net sales	$	—		$	—		$	—		$	1,183.5		$	—		$	1,183.5
Cost of goods sold	—			—			—			761.2			—			761.2
Gross profit	—			—			—			422.3			—			422.3
Selling, general and administrative	(11.0		)	0.1			0.4			264.4			—			253.9
Research and development	—			—			—			30.0			—			30.0
Operating income (loss)	11.0			(0.1		)	(0.4		)	127.9			—			138.4
Loss (earnings) from continuing operations of investment in subsidiaries	(69.7		)	(69.7		)	(98.5		)	—			237.9			—
Other (income) expense:
Equity income of unconsolidated subsidiaries	—			—			—			(0.2		)	—			(0.2		)
Net interest expense (income)	—			(0.1		)	28.4			6.7			—			35.0
Income (loss) from continuing operations before income taxes	80.7			69.7			69.7			121.4			(237.9		)	103.6
Provision for income taxes	—			—			—			22.9			—			22.9
Net income (loss) from continuing operations	80.7			69.7			69.7			98.5			(237.9		)	80.7
Income from discontinued operations, net of tax	—			—			—			7.1			—			7.1
Earnings (loss) from discontinued operations of investment in subsidiaries	7.1			7.1			7.1			—			(21.3		)	—
Net income (loss)	$	87.8		$	76.8		$	76.8		$	105.6		$	(259.2	)	$	87.8
Comprehensive income (loss), net of tax
Net income (loss)	$	87.8		$	76.8		$	76.8		$	105.6		$	(259.2	)	$	87.8
Changes in cumulative translation adjustment	75.7			75.7			75.7			75.7			(227.1		)	75.7
Changes in market value of derivative financial instruments, net of tax	1.6			1.6			1.6			1.6			(4.8		)	1.6
Comprehensive income (loss)	$	165.1		$	154.1		$	154.1		$	182.9		$	(491.1	)	$	165.1

Condensed Consolidating Statement of Operations and Comprehensive Income (Loss)

Three months ended March 31, 2016




In millions	Parent Company Guarantor			Subsidiary Guarantor			Subsidiary Issuer			Non-guarantor Subsidiaries			Eliminations			Consolidated Total
Net sales	$	—		$	—		$	—		$	1,190.0		$	—		$	1,190.0
Cost of goods sold	—			—			—			758.7			—			758.7
Gross profit	—			—			—			431.3			—			431.3
Selling, general and administrative	7.2			—			0.9			242.0			—			250.1
Research and development	—			—			—			28.5			—			28.5
Operating income (loss)	(7.2		)	—			(0.9		)	160.8			—			152.7
Loss (earnings) from continuing operations of investment in subsidiaries	(99.0		)	(99.0		)	(127.3		)	—			325.3			—
Other (income) expense:
Equity income of unconsolidated subsidiaries	—			—			—			(0.4		)	—			(0.4		)
Net interest expense	—			—			27.4			8.8			—			36.2
Income (loss) from continuing operations before income taxes	91.8			99.0			99.0			152.4			(325.3		)	116.9
Provision for income taxes	—			—			—			25.1			—			25.1
Net income (loss) from continuing operations	91.8			99.0			99.0			127.3			(325.3		)	91.8
Income from discontinued operations, net of tax	—			—			—			15.6			—			15.6
Earnings (loss) from discontinued operations of investment in subsidiaries	15.6			15.6			15.6			—			(46.8		)	—
Net income (loss)	$	107.4		$	114.6		$	114.6		$	142.9		$	(372.1	)	$	107.4
Comprehensive income (loss), net of tax
Net income (loss)	$	107.4		$	114.6		$	114.6		$	142.9		$	(372.1	)	$	107.4
Changes in cumulative translation adjustment	28.0			28.0			28.0			28.0			(84.0		)	28.0
Changes in market value of derivative financial instruments, net of tax	(14.7		)	(14.7		)	(14.7		)	(14.7		)	44.1			(14.7		)
Comprehensive income (loss)	$	120.7		$	127.9		$	127.9		$	156.2		$	(412.0	)	$	120.7

Schedule of Condensed Consolidating Balance Sheet

Condensed Consolidating Balance Sheet

March 31, 2017



In millions	Parent Company Guarantor		Subsidiary Guarantor		Subsidiary Issuer		Non-guarantor Subsidiaries		Eliminations			Consolidated Total
Assets
Current assets
Cash and cash equivalents	$	—	$	—	$	0.1	$	238.0	$	—		$	238.1
Accounts and notes receivable, net	—		—		—		914.4		—			914.4
Inventories	—		—		—		546.0		—			546.0
Other current assets	1.3		3.1		4.0		268.1		(11.7		)	264.8
Current assets held for sale	—		—		—		877.8		—			877.8
Total current assets	1.3		3.1		4.1		2,844.3		(11.7		)	2,841.1
Property, plant and equipment, net	—		—		—		551.9		—			551.9
Other assets
Investments in subsidiaries	4,691.2		4,653.2		9,500.9		—		(18,845.3		)	—
Goodwill	—		—		—		4,295.3		—			4,295.3
Intangibles, net	—		—		—		1,622.5		—			1,622.5
Other non-current assets	2.2		36.2		869.0		1,495.9		(2,208.0		)	195.3
Non-current assets held for sale	—		—		—		2,311.9		—			2,311.9
Total other assets	4,693.4		4,689.4		10,369.9		9,725.6		(21,053.3		)	8,425.0
Total assets	$	4,694.7	$	4,692.5	$	10,374.0	$	13,121.8	$	(21,065.0	)	$	11,818.0
Liabilities and Equity
Current liabilities
Current maturities of long-term debt and short-term borrowings	$	—	$	—	$	—	$	0.7	$	—		$	0.7
Accounts payable	—		—		—		387.3		—			387.3
Employee compensation and benefits	1.1		—		—		146.9		—			148.0
Other current liabilities	71.3		1.3		20.9		476.8		(11.7		)	558.6
Current liabilities held for sale	—		—		—		303.0		—			303.0
Total current liabilities	72.4		1.3		20.9		1,314.7		(11.7		)	1,397.6
Other liabilities
Long-term debt	247.0		—		5,699.6		790.3		(2,208.0		)	4,528.9
Pension and other post-retirement compensation and benefits	—		—		—		258.6		—			258.6
Deferred tax liabilities	—		—		—		602.2		—			602.2
Other non-current liabilities	0.5		—		—		148.7		—			149.2
Non-current liabilities held for sale	—		—		—		506.7		—			506.7
Total liabilities	319.9		1.3		5,720.5		3,621.2		(2,219.7		)	7,443.2
Equity	4,374.8		4,691.2		4,653.5		9,500.6		(18,845.3		)	4,374.8
Total liabilities and equity	$	4,694.7	$	4,692.5	$	10,374.0	$	13,121.8	$	(21,065.0	)	$	11,818.0

Condensed Consolidating Balance Sheet

December 31, 2016



In millions	Parent Company Guarantor		Subsidiary Guarantor		Subsidiary Issuer		Non-guarantor Subsidiaries		Eliminations			Consolidated Total
Assets
Current assets
Cash and cash equivalents	$	—	$	—	$	—	$	238.5	$	—		$	238.5
Accounts and notes receivable, net	0.1		—		—		763.9		—			764.0
Inventories	—		—		—		524.2		—			524.2
Other current assets	1.2		4.1		1.1		237.8		9.2			253.4
Current assets held for sale	—		—		—		891.9		—			891.9
Total current assets	1.3		4.1		1.1		2,656.3		9.2			2,672.0
Property, plant and equipment, net	—		—		—		538.6		—			538.6
Other assets
Investments in subsidiaries	4,509.5		4,471.4		9,295.5		—		(18,276.4		)	—
Goodwill	—		—		—		4,217.4		—			4,217.4
Intangibles, net	—		—		—		1,631.8		—			1,631.8
Other non-current assets	2.2		35.2		717.8		1,568.9		(2,142.0		)	182.1
Non-current assets held for sale	—		—		—		2,292.9		—			2,292.9
Total other assets	4,511.7		4,506.6		10,013.3		9,711.0		(20,418.4		)	8,324.2
Total assets	$	4,513.0	$	4,510.7	$	10,014.4	$	12,905.9	$	(20,409.2	)	$	11,534.8
Liabilities and Equity
Current liabilities
Current maturities of long-term debt and short-term borrowings	$	—	$	—	$	—	$	0.8	$	—		$	0.8
Accounts payable	0.7		—		0.1		435.8		—			436.6
Employee compensation and benefits	0.8		—		—		165.3		—			166.1
Other current liabilities	95.2		1.2		26.7		379.2		9.2			511.5
Current liabilities held for sale	—		—		—		356.2		—			356.2
Total current liabilities	96.7		1.2		26.8		1,337.3		9.2			1,471.2
Other liabilities
Long-term debt	148.1		—		5,515.9		756.4		(2,142.0		)	4,278.4
Pension and other post-retirement compensation and benefits	—		—		—		253.4		—			253.4
Deferred tax liabilities	—		—		—		609.5		—			609.5
Other non-current liabilities	13.8		—		—		148.2		—			162.0
Non-current liabilities held for sale	—		—		—		505.9		—			505.9
Total liabilities	258.6		1.2		5,542.7		3,610.7		(2,132.8		)	7,280.4
Equity	4,254.4		4,509.5		4,471.7		9,295.2		(18,276.4		)	4,254.4
Total liabilities and equity	$	4,513.0	$	4,510.7	$	10,014.4	$	12,905.9	$	(20,409.2	)	$	11,534.8

Schedule of Condensed Consolidating Statement of Cash Flows

Condensed Consolidating Statement of Cash Flows

Three months ended March 31, 2017



In millions	Parent Company Guarantor			Subsidiary Guarantor			Subsidiary Issuer			Non-guarantor Subsidiaries			Eliminations			Consolidated Total
Operating activities
Net cash provided by (used for) operating activities	$	49.8		$	75.1		$	69.5		$	(41.0	)	$	(259.4	)	$	(106.0	)
Investing activities
Capital expenditures	—			—			—			(23.6		)	—			(23.6		)
Acquisitions, net of cash acquired	—			—			—			(56.7		)	—			(56.7		)
Net intercompany loan activity	—			—			(530.4		)	(290.2		)	820.6			—
Net cash provided by (used for) investing activities of continuing operations	—			—			(530.4		)	(370.5		)	820.6			(80.3		)
Net cash provided by (used for) investing activities of discontinued operations	—			—			—			(3.7		)	—			(3.7		)
Net cash provided by (used for) investing activities	—			—			(530.4		)	(374.2		)	820.6			(84.0		)
Financing activities
Net repayments of short-term borrowings	—			—			—			(0.1		)	—			(0.1		)
Net receipts (repayments) of commercial paper and revolving long-term debt	—			—			234.0			(4.9		)	—			229.1
Net change in advances to subsidiaries	10.2			(75.1		)	206.9			419.2			(561.2		)	—
Shares issued to employees, net of shares withheld	2.8			—			—			—			—			2.8
Dividends paid	(62.8		)	—			—			—			—			(62.8		)
Net cash provided by (used for) financing activities	(49.8		)	(75.1		)	440.9			414.2			(561.2		)	169.0
Effect of exchange rate changes on cash and cash equivalents	—			—			20.1			0.5			—			20.6
Change in cash and cash equivalents	—			—			0.1			(0.5		)	—			(0.4		)
Cash and cash equivalents, beginning of period	—			—			—			238.5			—			238.5
Cash and cash equivalents, end of period	$	—		$	—		$	0.1		$	238.0		$	—		$	238.1

Condensed Consolidating Statement of Cash Flows

Three months ended March 31, 2016



In millions	Parent Company Guarantor			Subsidiary Guarantor			Subsidiary Issuer			Non-guarantor Subsidiaries			Eliminations			Consolidated Total
Operating activities
Net cash provided by (used for) operating activities	$	126.6		$	98.7		$	105.3		$	26.4		$	(372.0	)	$	(15.0	)
Investing activities
Capital expenditures	—			—			—			(32.8		)	—			(32.8		)
Proceeds from sale of property and equipment	—			—			—			5.4			—			5.4
Acquisitions, net of cash acquired	—			—			—			(0.1		)	—			(0.1		)
Net intercompany loan activity	—			—			(6.5		)	126.0			(119.5		)	—
Other	—			—			—			(0.2		)	—			(0.2		)
Net cash provided by (used for) investing activities of continuing operations	—			—			(6.5		)	98.3			(119.5		)	(27.7		)
Net cash provided by (used for) investing activities of discontinued operations	—			—			—			(4.3		)	—			(4.3		)
Net cash provided by (used for) investing activities	—			—			(6.5		)	94.0			(119.5		)	(32.0		)
Financing activities
Net receipts of short-term borrowings	—			—			—			0.7			—			0.7
Net receipts (repayments) of commercial paper and revolving long-term debt	—			—			164.8			(26.4		)	—			138.4
Repayments of long-term debt	—			—			—			(0.7		)	—			(0.7		)
Net change in advances to subsidiaries	(64.9		)	(98.7		)	(275.1		)	(52.8		)	491.5			—
Excess tax benefits from share-based compensation	—			—			—			0.5			—			0.5
Shares issued to employees, net of shares withheld	(1.6		)	—			—			—			—			(1.6		)
Dividends paid	(60.1		)	—			—			—			—			(60.1		)
Net cash provided by (used for) financing activities	(126.6		)	(98.7		)	(110.3		)	(78.7		)	491.5			77.2
Effect of exchange rate changes on cash and cash equivalents	—			—			11.4			(9.8		)	—			1.6
Change in cash and cash equivalents	—			—			(0.1		)	31.9			—			31.8
Cash and cash equivalents, beginning of period	—			—			0.1			126.2			—			126.3
Cash and cash equivalents, end of period	$	—		$	—		$	—		$	158.1		$	—		$	158.1

Discontinued Operations Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Discontinued Operations, Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Divestiture of Businesses		$ 3,150.0
Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Deal related costs and expenses	$ 11.2

Discontinued Operations Income Statement (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales	$ 356.5	$ 387.0
Cost of goods sold	267.9	282.8
Gross profit	88.6	104.2
Selling, general and administrative	79.5	81.5
Research and development	4.2	4.8
Operating income	4.9	17.9
Income from discontinued operations before income taxes	5.7	18.2
Income tax (benefit) provision	(1.4)	2.6
Income from discontinued operations, net of tax	$ 7.1	$ 15.6

Discontinued Operations Balance Sheet (Details) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Accounts and notes receivable, net	$ 359.3	$ 365.4
Inventories	477.6	491.5
Other current assets	40.9	35.0
Current assets held for sale	877.8	891.9
Property, plant and equipment, net	373.2	361.5
Goodwill	996.4	996.4
Intangibles, net	706.1	703.5
Asbestos-related insurance receivable	107.4	108.5
Other non-current assets	128.8	123.0
Non-current assets held for sale	2,311.9	2,292.9
Accounts payable	120.1	151.4
Employee compensation and benefits	59.6	61.5
Other current liabilities	123.3	143.3
Current liabilities held for sale	303.0	356.2
Pension and other post-retirement compensation and benefits	29.4	32.2
Deferred tax liabilities	171.3	162.8
Disposal Group, including Discontinued Operation, Asbestos Related Liabilities	224.6	228.3
Other non-current liabilities	81.4	82.6
Non-current liabilities held for sale	$ 506.7	$ 505.9

Share Plans - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 16.4	$ 16.1
2012 Stock and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options and restricted stock units issued under stock and incentive plan	1.4
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 5.8	7.0
Restricted Stock Units (RSUs) [Member] \| 2012 Stock and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock units issued under stock and incentive plan	0.3
Weighted-average fair value of restricted stock units granted	$ 58.93
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 4.5	5.4
Equity Option [Member] \| 2012 Stock and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	0.9
Weighted-average fair value of options granted	$ 12.57
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 6.1	$ 3.7
Performance Shares [Member] \| 2012 Stock and Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock units issued under stock and incentive plan	0.2
Weighted-average fair value of restricted stock units granted	$ 58.41

Share Plans - Assumptions Used in Calculating Estimated Fair Value of Stock Option Award in Annual Grant (Detail)	3 Months Ended
	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Risk-free interest rate	1.61%
Expected dividend yield	2.38%
Expected share price volatility	26.90%
Expected term (years)	6 years 3 months 18 days

Share Plans - Share-based Compensation Cost by Award Type (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 16.4	$ 16.1
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	5.8	7.0
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	4.5	5.4
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation	$ 6.1	$ 3.7

Restructuring - Additional Information (Detail) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2017 USD ($) Person	Mar. 31, 2016 USD ($)	Dec. 31, 2016 Person
Restructuring Cost and Reserve [Line Items]
Number of employees \| Person	200		650
Total restructuring costs	$ 20.9	$ 0.5
Water Unit [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees \| Person	100		300
Total restructuring costs	$ 7.1	(0.6)
Electrical Unit [Member]
Restructuring Cost and Reserve [Line Items]
Number of employees \| Person	100		350
Total restructuring costs	$ 9.3	0.2
Corporate and Other [Member]
Restructuring Cost and Reserve [Line Items]
Total restructuring costs	$ 4.5	$ 0.9

Restructuring - Restructuring Related Costs Included in Selling, General & Administrative expenses on Consolidated Statements of Income (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 20.9	$ 0.5
Severance and related costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs	20.6	0.6
Other
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 0.3	$ (0.1)

Restructuring - Restructuring Accrual Activity recorded on Condensed Consolidated Balance Sheets (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2017 USD ($)
Restructuring Reserve [Roll Forward]
Beginning balance	$ 25.4
Restructuring and Related Cost, Incurred Cost	20.6
Cash payments and other	(15.9)
Ending balance	$ 30.1

Earnings Per Share - Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Computation Of Earnings Per Share Line Items
Net income	$ 87.8	$ 107.4
Income (Loss) from Continuing Operations Attributable to Parent	$ 80.7	$ 91.8
Weighted average common shares outstanding
Basic (shares)	182.0	180.7
Dilutive impact of stock options and restricted stock units (shares)	2.0	1.7
Diluted (shares)	184.0	182.4
Earnings per common share attributable to Pentair plc
Income (Loss) from Continuing Operations, Per Basic Share	$ 0.44	$ 0.50
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic Share	0.04	0.09
Basic (USD per share)	0.48	0.59
Income (Loss) from Continuing Operations, Per Diluted Share	0.44	0.50
Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Diluted Share	0.04	0.09
Diluted (USD per share)	$ 0.48	$ 0.59
Anti-dilutive stock options excluded from the calculation of diluted earnings per share	1.8	3.1

Supplemental Balance Sheet Information (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Inventories
Inventory, Raw Materials and Supplies, Gross	$ 232.7	$ 223.5
Inventory, Work in Process, Gross	71.1	67.3
Inventory, Finished Goods, Gross	242.2	233.4
Total inventories	546.0	524.2
Other current assets
Cost in excess of billings	119.2	107.7
Prepaid expenses	92.9	68.7
Prepaid Taxes	45.3	67.2
Other Current Assets	7.4	9.8
Total other current assets	264.8	253.4
Property, plant and equipment, net
Land and land improvements	68.7	66.2
Buildings and Improvements, Gross	342.0	335.0
Machinery and equipment	958.3	932.5
Construction in progress	75.7	68.6
Total property, plant and equipment	1,444.7	1,402.3
Accumulated depreciation and amortization	892.8	863.7
Total property, plant and equipment, net	551.9	538.6
Other non-current assets
Deferred income taxes	57.1	39.0
Deferred Compensation Plan Assets	45.4	47.9
Other non-current assets	92.8	95.2
Total Other non-current assets	195.3	182.1
Other current liabilities
Dividends payable	62.9	61.8
Accrued warranty	42.0	38.9
Accrued Exchange Fee Rebate	60.5	78.2
Billings in excess of cost	35.9	22.5
Taxes Payable	98.3	87.3
Restructuring Reserve	30.1	25.4
Other current liabilities	228.9	197.4
Total other current liabilities	558.6	511.5
Other non-current liabilities
Taxes payable	35.0	36.1
Self Insurance Reserve, Noncurrent	49.7	49.8
Deferred Compensation Liability, Current	45.4	47.9
Other Long Term Liabilities	19.1	28.2
Total other non-current liabilities	$ 149.2	$ 162.0

Goodwill and Other Identifiable Intangible Assets - Changes in Carrying Amount of Goodwill by Segment (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2017 USD ($)
Goodwill [Roll Forward]
Beginning Balance	$ 4,217.4
Goodwill, Purchase Accounting Adjustments	50.6
Foreign currency translation/other	27.3
Ending Balance	4,295.3
Water Unit [Member]
Goodwill [Roll Forward]
Beginning Balance	1,994.6
Goodwill, Purchase Accounting Adjustments	45.3
Foreign currency translation/other	24.7
Ending Balance	2,064.6
Electrical Unit [Member]
Goodwill [Roll Forward]
Beginning Balance	2,222.8
Goodwill, Purchase Accounting Adjustments	5.3
Foreign currency translation/other	2.6
Ending Balance	$ 2,230.7

Goodwill and Other Identifiable Intangible Assets - Detail of Identifiable Intangible Assets (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Acquired Intangible Assets By Major Class [Line Items]
Finite-Lived Intangible Assets, Gross	$ 1,624.1	$ 1,621.1
Accumulated amortization	(463.8)	(448.4)
Finite-Lived Intangible Assets, Net	1,160.3	1,172.7
Net, indefinite-life intangibles	462.2	459.1
Cost	2,086.3	2,080.2
Net	1,622.5	1,631.8
Customer relationships
Acquired Intangible Assets By Major Class [Line Items]
Finite-Lived Intangible Assets, Gross	1,482.4	1,478.0
Accumulated amortization	(366.8)	(346.7)
Finite-Lived Intangible Assets, Net	1,115.6	1,131.3
Trade names intangibles
Acquired Intangible Assets By Major Class [Line Items]
Finite-Lived Intangible Assets, Gross	1.9	1.8
Accumulated amortization	(1.5)	(1.4)
Finite-Lived Intangible Assets, Net	0.4	0.4
Patented Technology [Member]
Acquired Intangible Assets By Major Class [Line Items]
Finite-Lived Intangible Assets, Gross	139.8	141.3
Accumulated amortization	(95.5)	(100.3)
Finite-Lived Intangible Assets, Net	$ 44.3	$ 41.0

Goodwill and Other Identifiable Intangible Assets - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Goodwill And Other Intangible Assets [Line Items]
Payments to Acquire Businesses, Net of Cash Acquired	$ 56.7	$ 0.1
Intangible asset amortization expense	$ 24.0	$ 24.2

Goodwill and Other Identifiable Intangible Assets - Estimated Future Amortization Expense for Identifiable Intangible Assets (Detail) $ in Millions	Mar. 31, 2017 USD ($)
Finite-Lived Intangible Assets [Line Items]
Q4 2016	$ 72.4
2017	95.4
2018	92.9
2019	86.1
2020	81.1
2021	$ 74.9

Debt - Debt and Average Interest Rates on Debt Outstanding (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Unamortized Debt Issuance Expense	$ (16.4)	$ (17.8)
Total debt	4,529.6	4,279.2
Current maturities and short-term borrowings	(0.7)	(0.8)
Long-term debt	$ 4,528.9	4,278.4
Commercial Paper [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	1.962%
Commercial Paper	$ 532.7	398.7
Senior Notes 1.875% Due 2017 \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	1.875%
Total debt	$ 350.0	350.0
Senior Notes 2.900% Due 2018 \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	2.90%
Total debt	$ 500.0	500.0
Senior Notes 2.650% Due 2019 \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	2.65%
Total debt	$ 250.0	250.0
Senior Notes 2.45% Due 2019 \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	2.45%
Total debt	$ 540.7	520.7
Senior Notes 3.625% Due 2020 \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	3.625%
Total debt	$ 400.0	400.0
Senior Notes 5.000% Due 2021 \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	5.00%
Total debt	$ 500.0	500.0
Senior Notes 3.150% Due 2022 \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	3.15%
Total debt	$ 550.0	550.0
Senior Notes 4.65% Due 2025 \| Senior Notes [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	4.65%
Total debt	$ 250.0	250.0
Other Debt Obligations [Member] \| Other Debt Obligations [Member]
Debt Instrument [Line Items]
Total debt	$ 0.7	0.8
Revolving Credit Facility [Member] \| Long Term Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt, Weighted Average Interest Rate	2.446%
Total debt	$ 671.9	$ 576.8

Debt - Additional Information (Detail) $ in Millions	3 Months Ended	12 Months Ended
Debt - Additional Information (Detail) $ in Millions	Mar. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Sep. 02, 2015 USD ($)	Oct. 03, 2014 USD ($)
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 4,529.6	$ 4,279.2
Compliance with debt agreement financial covenants		we were in compliance with all financial covenants in our debt agreements
Maximum
Debt Instrument [Line Items]
Costs and expenses incurred in connection with acquisition excluded from computation of Net Income figure used in our debt covenant calculation	$ 25.0
Debt agreement financial covenant, leverage ratio	3.5
Minimum
Debt Instrument [Line Items]
Debt agreement financial covenant, leverage ratio	4.0
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity			$ 2,500.0	$ 2,100.0
Remaining availability under Credit Facility	$ 1,295.4
Revolving Credit Facility [Member] \| Maximum
Debt Instrument [Line Items]
Remaining availability under Credit Facility	96.2
Commercial Paper [Member]
Debt Instrument [Line Items]
Commercial Paper	$ 532.7	$ 398.7
Debt, Weighted Average Interest Rate	1.962%
Senior Notes [Member] \| Senior Notes 2.900% Due 2018
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 500.0	500.0
Debt, Weighted Average Interest Rate	2.90%
Senior Notes [Member] \| Senior Notes 1.875% Due 2017
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 350.0	350.0
Debt, Weighted Average Interest Rate	1.875%
Senior Notes [Member] \| Senior Notes 2.650% Due 2019
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 250.0	250.0
Debt, Weighted Average Interest Rate	2.65%
Senior Notes [Member] \| Senior Notes 5.000% Due 2021
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 500.0	500.0
Debt, Weighted Average Interest Rate	5.00%
Senior Notes [Member] \| Senior Notes 3.150% Due 2022
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 550.0	550.0
Debt, Weighted Average Interest Rate	3.15%
Senior Notes [Member] \| Senior Notes 3.625% Due 2020
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 400.0	400.0
Debt, Weighted Average Interest Rate	3.625%
Senior Notes [Member] \| Senior Notes 4.65% Due 2025
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 250.0	250.0
Debt, Weighted Average Interest Rate	4.65%
Senior Notes [Member] \| Senior Notes 2.45% Due 2019
Debt Instrument [Line Items]
Debt, Long-term and Short-term, Combined Amount	$ 540.7	$ 520.7
Debt, Weighted Average Interest Rate	2.45%
Other Credit Facilities
Debt Instrument [Line Items]
Credit facility maximum borrowing capacity	$ 53.2
Line of credit facility, amount outstanding	$ 0.0

Debt - Debt Outstanding Matures on Calendar Year Basis (Detail) $ in Millions	Mar. 31, 2017 USD ($)
Debt Instrument [Line Items]
Q2-Q4 2017	$ 0.7
2018	500.0
2019	2,345.3
2020	400.0
2021	500.0
2022	550.0
Thereafter	250.0
Total debt, excluding unamortized issuance costs and discounts	$ 4,546.0

Derivatives and Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Derivative [Line Items]
Impairment of Intangible Assets (Excluding Goodwill)		$ 13.3
Description of Net Investment Hedge Activity	we designated the €500 million 2.45% Senior Notes due 2019 (the "2019 Euro Notes") as a net investment hedge for a portion of our net investment in our Euro denominated subsidiaries.
Debt, Long-term and Short-term, Combined Amount	$ 4,529.6	4,279.2
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax	24.1	44.2
Foreign Exchange Contract [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 470.8	$ 475.6

Derivatives and Financial Instruments - Recorded Amounts and Estimated Fair Values of Long-term Debt and Derivative Financial Instruments (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Derivative [Line Items]
Total debt, excluding unamortized issuance costs and discounts	$ 4,546.0
Recorded Amount
Derivative [Line Items]
Variable rate debt	1,205.3	$ 976.3
Fixed rate debt	3,340.7	3,320.7
Total debt, excluding unamortized issuance costs and discounts	4,546.0	4,297.0
Fair Value
Derivative [Line Items]
Variable rate debt	1,205.3	976.3
Fixed rate debt	3,451.4	3,427.1
Total debt, excluding unamortized issuance costs and discounts	$ 4,656.7	$ 4,403.4

Derivatives and Financial Instruments - Assets and Liabilities Measured at Fair Value (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill	$ 4,295.3	$ 4,217.4
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract assets	2.5	5.5
Foreign Currency Contracts, Liability, Fair Value Disclosure	(13.5)	(5.4)
Deferred compensation plan	45.4	47.9
Derivative Assets (Liabilities), at Fair Value, Net	34.4	48.0
Fair Value, Inputs, Level 1 \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract assets	0.0	0.0
Foreign Currency Contracts, Liability, Fair Value Disclosure	0.0	0.0
Deferred compensation plan	39.9	41.6
Derivative Assets (Liabilities), at Fair Value, Net	39.9	41.6
Fair Value, Inputs, Level 2 \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract assets	2.5	5.5
Foreign Currency Contracts, Liability, Fair Value Disclosure	(13.5)	(5.4)
Deferred compensation plan	5.5	6.3
Derivative Assets (Liabilities), at Fair Value, Net	(5.5)	6.4
Fair Value, Inputs, Level 3 [Member] \| Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Foreign currency contract assets	0.0	0.0
Foreign Currency Contracts, Liability, Fair Value Disclosure	0.0	0.0
Deferred compensation plan	0.0	0.0
Derivative Assets (Liabilities), at Fair Value, Net	$ 0.0	$ 0.0

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Income Taxes [Line Items]
Total gross liability for unrecognized tax benefits	$ 70.5	$ 71.1

Benefit Plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 2.6	$ 2.8
Interest cost	4.1	4.1
Expected return on plan assets	(2.9)	(2.9)
Net periodic benefit cost	3.8	4.0
Non U.S. Pension Plans
Defined Benefit Plan Disclosure [Line Items]
Service cost	1.8	2.1
Interest cost	0.9	1.1
Expected return on plan assets	(0.3)	(0.4)
Net periodic benefit cost	$ 2.4	$ 2.8

Shareholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2014
Stockholders Equity Note Disclosure [Line Items]
Common Stock, Shares Authorized	426.0		426.0
Common Stock, Par or Stated Value Per Share	$ 0.01		$ 0.01
Dividends Payable, Amount Per Share	0.35		0.35
Common Stock, Dividends, Per Share, Cash Paid	$ 0.345	$ 0.33
Share repurchase (in shares)	0.0
ApprovedNotDeclaredlDividends			$ 1.38
Dividends payable	$ 62.9		$ 61.8
December 2014 Share Repurchase Program [Member]
Stockholders Equity Note Disclosure [Line Items]
Repurchase of shares of our common stock up to a maximum aggregate value				$ 1,000.0
Common stock authorized for repurchase, expiration date	Dec. 31, 2019
Share repurchase program remaining available amount	$ 800.0

Segment Information - Financial Information by Reportable Segment (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting Information [Line Items]
Net sales	$ 1,183.5	$ 1,190.0
Segment Income (Loss)	183.5	177.9
Water Unit [Member]
Segment Reporting Information [Line Items]
Net sales	682.9	665.7
Segment Income (Loss)	116.0	101.2
Electrical Unit [Member]
Segment Reporting Information [Line Items]
Net sales	502.2	524.6
Segment Income (Loss)	103.5	112.8
Other
Segment Reporting Information [Line Items]
Net sales	(1.6)	(0.3)
Segment Income (Loss)	$ (36.0)	$ (36.1)

Segment Information Reconciliation of Operating Profit (Losee) from Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	$ 1,183.5	$ 1,190.0
Segment Income (Loss)	183.5	177.9
Intangible asset amortization expense	(24.0)	(24.2)
Income from continuing operations before income taxes	103.6	116.9
Segment Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment Income (Loss)	183.5	177.9
Restructuring and Other Costs	(20.9)	(0.6)
Intangible asset amortization expense	24.0	24.2
Interest Revenue (Expense), Net	$ (35.0)	$ (36.2)

Commitments and Contingencies - Additional Information (Detail) $ in Millions	Mar. 31, 2017 USD ($) LegalMatter	Dec. 31, 2016 USD ($)
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number \| LegalMatter	3,300
Environmental Reserve Other Accrued Costs	$ 17.6	$ 18.3
Letters of credit outstanding	$ 353.9	331.0
Valves And Controls [Member]
Loss Contingencies [Line Items]
Loss Contingency, Pending Claims, Number \| LegalMatter	2,800
Liability For Claims And Contingencies	$ 224.6	228.3
Liability Reserve For Insurance Claims	107.4	108.5
Letters of credit outstanding	$ 149.1	$ 156.6

Commitments and Contingencies - Changes in Carrying Amount of Service and Product Warranties (Detail) $ in Millions	3 Months Ended
	Mar. 31, 2017 USD ($)
Movement in Standard Product Warranty Accrual [Roll Forward]
Beginning balance	$ 38.9
Service and product warranty provision	13.9
Payments	(12.6)
Product Warranty Accrual, Currency Translation, Increase (Decrease)	0.2
Ending balance	$ 42.0

Financial Statements of Parent Company Guarantor - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2016
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Ownership percentage	100.00%

Financial Statements of Parent Company Guarantor - Condensed Consolidating Statement of Operations and Comprehensive Income (Loss) (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Condensed Financial Statements, Captions [Line Items]
Net Income (Loss) Attributable to Parent	$ 87.8	$ 107.4
Net sales	1,183.5	1,190.0
Cost of goods sold	761.2	758.7
Gross profit	422.3	431.3
Selling, general and administrative	253.9	250.1
Research and development	30.0	28.5
Operating Income (Loss)	138.4	152.7
Other (income) expense:
Equity income of unconsolidated subsidiaries	(0.2)	(0.4)
Net interest expense	35.0	36.2
Income from continuing operations before income taxes	103.6	116.9
Provision for income taxes	22.9	25.1
Net Income (Loss) from Continuing Operations	80.7	91.8
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	(7.1)	(15.6)
Comprehensive income, net of tax
Net income	87.8	107.4
Changes in cumulative translation adjustment	(75.7)	(28.0)
Changes in market value of derivative financial instruments	1.6	(14.7)
Comprehensive income (loss) attributable to Pentair plc	165.1	120.7
Parent Company Guarantor
Condensed Financial Statements, Captions [Line Items]
Discontinued Operation, Income (Loss) from Investment in Subsidiaries	7.1	15.6
Net Income (Loss) Attributable to Parent		107.4
Selling, general and administrative	(11.0)	7.2
Research and development	0.0
Operating Income (Loss)	11.0	(7.2)
Loss (earnings) from investment in subsidiaries	(69.7)	(99.0)
Other (income) expense:
Net interest expense	0.0	0.0
Income from continuing operations before income taxes	80.7	91.8
Provision for income taxes	0.0	0.0
Net Income (Loss) from Continuing Operations	80.7	91.8
Comprehensive income, net of tax
Net income	87.8	107.4
Changes in cumulative translation adjustment	(75.7)	(28.0)
Changes in market value of derivative financial instruments	1.6	(14.7)
Comprehensive income (loss) attributable to Pentair plc	165.1	120.7
Guarantor Subsidiaries [Member]
Condensed Financial Statements, Captions [Line Items]
Discontinued Operation, Income (Loss) from Investment in Subsidiaries	7.1	15.6
Net Income (Loss) Attributable to Parent		114.6
Selling, general and administrative	0.1	0.0
Operating Income (Loss)	(0.1)	0.0
Loss (earnings) from investment in subsidiaries	(69.7)	(99.0)
Other (income) expense:
Net interest expense	(0.1)	0.0
Income from continuing operations before income taxes	69.7	99.0
Provision for income taxes	0.0	0.0
Net Income (Loss) from Continuing Operations	69.7	99.0
Comprehensive income, net of tax
Net income	76.8	114.6
Changes in cumulative translation adjustment	(75.7)	(28.0)
Changes in market value of derivative financial instruments	1.6	(14.7)
Comprehensive income (loss) attributable to Pentair plc	154.1	127.9
Subsidiary Issuer
Condensed Financial Statements, Captions [Line Items]
Discontinued Operation, Income (Loss) from Investment in Subsidiaries	7.1	15.6
Net Income (Loss) Attributable to Parent		114.6
Selling, general and administrative	0.4	0.9
Operating Income (Loss)	(0.4)	(0.9)
Loss (earnings) from investment in subsidiaries	(98.5)	(127.3)
Other (income) expense:
Net interest expense	28.4	27.4
Income from continuing operations before income taxes	69.7	99.0
Provision for income taxes	0.0	0.0
Net Income (Loss) from Continuing Operations	69.7	99.0
Comprehensive income, net of tax
Net income	76.8	114.6
Changes in cumulative translation adjustment	(75.7)	(28.0)
Changes in market value of derivative financial instruments	1.6	(14.7)
Comprehensive income (loss) attributable to Pentair plc	154.1	127.9
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net Income (Loss) Attributable to Parent		142.9
Net sales	1,183.5	1,190.0
Cost of goods sold	761.2	758.7
Gross profit	422.3	431.3
Selling, general and administrative	264.4	242.0
Research and development	30.0	28.5
Operating Income (Loss)	127.9	160.8
Other (income) expense:
Equity income of unconsolidated subsidiaries	(0.2)	(0.4)
Net interest expense	6.7	8.8
Income from continuing operations before income taxes	121.4	152.4
Provision for income taxes	22.9	25.1
Net Income (Loss) from Continuing Operations	98.5	127.3
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent	(7.1)	(15.6)
Comprehensive income, net of tax
Net income	105.6	142.9
Changes in cumulative translation adjustment	(75.7)	(28.0)
Changes in market value of derivative financial instruments	1.6	(14.7)
Comprehensive income (loss) attributable to Pentair plc	182.9	156.2
Consolidation, Eliminations [Member]
Condensed Financial Statements, Captions [Line Items]
Discontinued Operation, Income (Loss) from Investment in Subsidiaries	(21.3)	(46.8)
Net Income (Loss) Attributable to Parent		(372.1)
Loss (earnings) from investment in subsidiaries	237.9	325.3
Other (income) expense:
Income from continuing operations before income taxes	(237.9)	(325.3)
Net Income (Loss) from Continuing Operations	(237.9)	(325.3)
Comprehensive income, net of tax
Net income	(259.2)	(372.1)
Changes in cumulative translation adjustment	227.1	84.0
Changes in market value of derivative financial instruments	(4.8)	44.1
Comprehensive income (loss) attributable to Pentair plc	$ (491.1)	$ (412.0)

Financial Statements of Parent Company Guarantor - Condensed Consolidating Balance Sheet (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Current assets
Cash and cash equivalents	$ 238.1	$ 238.5	$ 158.1	$ 126.3
Accounts and notes receivable, net	914.4	764.0
Inventories	546.0	524.2
Other current assets	264.8	253.4
Disposal Group, Including Discontinued Operation, Assets, Current	877.8	891.9
Total current assets	2,841.1	2,672.0
Property, plant and equipment, net	551.9	538.6
Other assets
Goodwill	4,295.3	4,217.4
Intangibles, net	1,622.5	1,631.8
Other non-current assets	195.3	182.1
Non-current assets held for sale	2,311.9	2,292.9
Assets, Noncurrent	8,425.0	8,324.2
Total assets	11,818.0	11,534.8
Long-term Debt, Current Maturities	0.7	0.8
Current liabilities
Accounts payable	387.3	436.6
Employee compensation and benefits	148.0	166.1
Other current liabilities	558.6	511.5
Disposal Group, Including Discontinued Operation, Liabilities, Current	303.0	356.2
Total current liabilities	1,397.6	1,471.2
Other liabilities
Long-term debt	4,528.9	4,278.4
Pension and other post-retirement compensation and benefits	258.6	253.4
Deferred tax liabilities	602.2	609.5
Other non-current liabilities	149.2	162.0
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent	506.7	505.9
Total liabilities	7,443.2	7,280.4
Equity
Total equity	4,374.8	4,254.4	4,084.2	4,008.8
Total liabilities and equity	11,818.0	11,534.8
Parent Company Guarantor
Current assets
Cash and cash equivalents	0.0	0.0	0.0	0.0
Accounts and notes receivable, net	0.0	0.1
Inventories		0.0
Other current assets	1.3	1.2
Total current assets	1.3	1.3
Property, plant and equipment, net		0.0
Other assets
Investments in subsidiaries	4,691.2	4,509.5
Other non-current assets	2.2	2.2
Assets, Noncurrent	4,693.4	4,511.7
Total assets	4,694.7	4,513.0
Long-term Debt, Current Maturities		0.0
Current liabilities
Accounts payable	0.0	0.7
Employee compensation and benefits	1.1	0.8
Other current liabilities	71.3	95.2
Total current liabilities	72.4	96.7
Other liabilities
Long-term debt	247.0	148.1
Other non-current liabilities	0.5	13.8
Total liabilities	319.9	258.6
Equity
Total equity	4,374.8	4,254.4
Total liabilities and equity	4,694.7	4,513.0
Guarantor Subsidiary [Member]
Current assets
Cash and cash equivalents	0.0
Accounts and notes receivable, net	0.0
Other current assets	3.1	4.1
Total current assets	3.1	4.1
Other assets
Investments in subsidiaries	4,653.2	4,471.4
Other non-current assets	36.2	35.2
Assets, Noncurrent	4,689.4	4,506.6
Total assets	4,692.5	4,510.7
Current liabilities
Accounts payable	0.0
Employee compensation and benefits	0.0	0.0
Other current liabilities	1.3	1.2
Total current liabilities	1.3	1.2
Other liabilities
Long-term debt	0.0	0.0
Other non-current liabilities	0.0
Total liabilities	1.3	1.2
Equity
Total equity	4,691.2	4,509.5
Total liabilities and equity	4,692.5	4,510.7
Subsidiary Issuer
Current assets
Cash and cash equivalents	0.1	0.0	0.0	0.1
Accounts and notes receivable, net	0.0	0.0
Inventories		0.0
Other current assets	4.0	1.1
Total current assets	4.1	1.1
Property, plant and equipment, net		0.0
Other assets
Investments in subsidiaries	9,500.9	9,295.5
Other non-current assets	869.0	717.8
Assets, Noncurrent	10,369.9	10,013.3
Total assets	10,374.0	10,014.4
Long-term Debt, Current Maturities		0.0
Current liabilities
Accounts payable	0.0	0.1
Other current liabilities	20.9	26.7
Total current liabilities	20.9	26.8
Other liabilities
Long-term debt	5,699.6	5,515.9
Deferred tax liabilities	0.0	0.0
Total liabilities	5,720.5	5,542.7
Equity
Total equity	4,653.5	4,471.7
Total liabilities and equity	10,374.0	10,014.4
Non-Guarantor Subsidiaries
Current assets
Cash and cash equivalents	238.0	238.5	$ 158.1	$ 126.2
Accounts and notes receivable, net	914.4	763.9
Inventories	546.0	524.2
Other current assets	268.1	237.8
Disposal Group, Including Discontinued Operation, Assets, Current	877.8	891.9
Total current assets	2,844.3	2,656.3
Property, plant and equipment, net	551.9	538.6
Other assets
Goodwill	4,295.3	4,217.4
Intangibles, net	1,622.5	1,631.8
Other non-current assets	1,495.9	1,568.9
Non-current assets held for sale	2,311.9	2,292.9
Assets, Noncurrent	9,725.6	9,711.0
Total assets	13,121.8	12,905.9
Long-term Debt, Current Maturities	0.7	0.8
Current liabilities
Accounts payable	387.3	435.8
Employee compensation and benefits	146.9	165.3
Other current liabilities	476.8	379.2
Disposal Group, Including Discontinued Operation, Liabilities, Current	303.0	356.2
Total current liabilities	1,314.7	1,337.3
Other liabilities
Long-term debt	790.3	756.4
Pension and other post-retirement compensation and benefits	258.6	253.4
Deferred tax liabilities	602.2	609.5
Other non-current liabilities	148.7	148.2
Disposal Group, Including Discontinued Operation, Liabilities, Noncurrent	506.7	505.9
Total liabilities	3,621.2	3,610.7
Equity
Total equity	9,500.6	9,295.2
Total liabilities and equity	13,121.8	12,905.9
Consolidation, Eliminations [Member]
Current assets
Accounts and notes receivable, net	0.0	0.0
Other current assets	(11.7)	9.2
Total current assets	(11.7)	9.2
Other assets
Investments in subsidiaries	(18,845.3)	(18,276.4)
Other non-current assets	(2,208.0)	(2,142.0)
Assets, Noncurrent	(21,053.3)	(20,418.4)
Total assets	(21,065.0)	(20,409.2)
Current liabilities
Accounts payable	0.0	0.0
Other current liabilities	(11.7)	9.2
Total current liabilities	(11.7)	9.2
Other liabilities
Long-term debt	(2,208.0)	(2,142.0)
Other non-current liabilities	0.0	0.0
Total liabilities	(2,219.7)	(2,132.8)
Equity
Total equity	(18,845.3)	(18,276.4)
Total liabilities and equity	$ (21,065.0)	$ (20,409.2)

Financial Statements of Parent Company Guarantor - Condensed Consolidating Statement of Cash Flows (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Condensed Financial Statements, Captions [Line Items]
Net Cash Provided by (Used in) Operating Activities, Continuing Operations	$ (88.7)	$ (17.7)
Cash Provided by (Used in) Operating Activities, Discontinued Operations	(17.3)	2.7
Operating activities
Net cash provided by (used for) operating activities	(106.0)	(15.0)
Investing activities
Capital expenditures	(23.6)	(32.8)
Proceeds from sale of property and equipment	0.0	5.4
Acquisitions, net of cash acquired	(56.7)	(0.1)
Intercompany Loan Activity, Net		0.0
Payments for (Proceeds from) Other Investing Activities	0.0	(0.2)
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	(80.3)	(27.7)
Cash Provided by (Used in) Investing Activities, Discontinued Operations	(3.7)	(4.3)
Net cash provided by (used for) investing activities	(84.0)	(32.0)
Financing activities
Net repayments of short-term borrowings	(0.1)	0.7
Proceeds from (Repayments of) Lines of Credit	229.1	138.4
Repayments of long-term debt	0.0	(0.7)
Excess tax benefits from share-based compensation	0.0	0.5
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options	2.8	(1.6)
Dividends paid	(62.8)	(60.1)
Net cash provided by (used for) financing activities	169.0	77.2
Effect of exchange rate changes on cash and cash equivalents	20.6	1.6
Change in cash and cash equivalents	(0.4)	31.8
Cash and cash equivalents, beginning of period	238.5	126.3
Cash and cash equivalents, end of period	238.1	158.1
Parent Company Guarantor
Operating activities
Net cash provided by (used for) operating activities	49.8	126.6
Investing activities
Acquisitions, net of cash acquired	0.0	0.0
Intercompany Loan Activity, Net		0.0
Net cash provided by (used for) investing activities		0.0
Financing activities
Net change in advances to subsidiaries	10.2	(64.9)
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options	2.8	(1.6)
Dividends paid	(62.8)	(60.1)
Net cash provided by (used for) financing activities	(49.8)	(126.6)
Change in cash and cash equivalents		0.0
Cash and cash equivalents, beginning of period	0.0	0.0
Cash and cash equivalents, end of period	0.0	0.0
Guarantor Subsidiary [Member]
Operating activities
Net cash provided by (used for) operating activities	75.1	98.7
Investing activities
Intercompany Loan Activity, Net		0.0
Financing activities
Net change in advances to subsidiaries	(75.1)	(98.7)
Net cash provided by (used for) financing activities	(75.1)	(98.7)
Cash and cash equivalents, end of period	0.0
Subsidiary Issuer
Operating activities
Net cash provided by (used for) operating activities	69.5	105.3
Investing activities
Intercompany Loan Activity, Net	(530.4)	(6.5)
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	(530.4)	(6.5)
Net cash provided by (used for) investing activities	(530.4)	(6.5)
Financing activities
Proceeds from (Repayments of) Lines of Credit	234.0	164.8
Net change in advances to subsidiaries	206.9	(275.1)
Net cash provided by (used for) financing activities	440.9	(110.3)
Effect of exchange rate changes on cash and cash equivalents	20.1	11.4
Change in cash and cash equivalents	0.1	(0.1)
Cash and cash equivalents, beginning of period	0.0	0.1
Cash and cash equivalents, end of period	0.1	0.0
Non-Guarantor Subsidiaries
Operating activities
Net cash provided by (used for) operating activities	(41.0)	26.4
Investing activities
Capital expenditures	(23.6)	(32.8)
Proceeds from sale of property and equipment		5.4
Acquisitions, net of cash acquired	(56.7)	(0.1)
Intercompany Loan Activity, Net	(290.2)	126.0
Payments for (Proceeds from) Other Investing Activities		(0.2)
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	(370.5)	98.3
Cash Provided by (Used in) Investing Activities, Discontinued Operations	(3.7)	(4.3)
Net cash provided by (used for) investing activities	(374.2)	94.0
Financing activities
Net repayments of short-term borrowings	(0.1)	0.7
Proceeds from (Repayments of) Lines of Credit	(4.9)	(26.4)
Repayments of long-term debt		(0.7)
Net change in advances to subsidiaries	419.2	(52.8)
Excess tax benefits from share-based compensation		0.5
Proceeds from Issuance of Shares under Incentive and Share-based Compensation Plans, Including Stock Options	0.0	0.0
Dividends paid	0.0
Net cash provided by (used for) financing activities	414.2	(78.7)
Effect of exchange rate changes on cash and cash equivalents	0.5	(9.8)
Change in cash and cash equivalents	(0.5)	31.9
Cash and cash equivalents, beginning of period	238.5	126.2
Cash and cash equivalents, end of period	238.0	158.1
Consolidation, Eliminations [Member]
Operating activities
Net cash provided by (used for) operating activities	(259.4)	(372.0)
Investing activities
Intercompany Loan Activity, Net	820.6	(119.5)
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	820.6	(119.5)
Net cash provided by (used for) investing activities	820.6	(119.5)
Financing activities
Net change in advances to subsidiaries	(561.2)	491.5
Net cash provided by (used for) financing activities	$ (561.2)	$ 491.5