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10-Q Filing

PENTAIR PLC CIK: 77360 Q1 2022
Filing Information
Form Type 10-Q
Accession Number 0000077360-22-000015
Period End Date 20220331
Filing Date 20220421
Fiscal Year 2022
Fiscal Period Q1
XBRL Instance pnr-20220331_htm.xml
Filing Contents
Balance Sheet 62 line items
Line Item Tag Value Unit Period
Accounts and notes receivable, allowances AllowanceForDoubtfulAccountsReceivableCurrent $12.00M USD Point-in-time
Accounts and notes receivable, allowances AllowanceForDoubtfulAccountsReceivableCurrent $9.10M USD Point-in-time
Ordinary shares, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Ordinary shares, par value (in dollars per share) CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $102.30M USD Point-in-time
Common stock authorized (in shares) CommonStockSharesAuthorized 426.00M shares Point-in-time
Common stock authorized (in shares) CommonStockSharesAuthorized 426.00M shares Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $94.50M USD Point-in-time
Common shares issued (in shares) CommonStockSharesIssued 165.40M shares Point-in-time
Accounts receivable, net of allowances of $12.0 and $9.1, respectively AccountsAndNotesReceivableNet $534.30M USD Point-in-time
Accounts receivable, net of allowances of $12.0 and $9.1, respectively AccountsAndNotesReceivableNet $648.60M USD Point-in-time
Common shares issued (in shares) CommonStockSharesIssued 165.10M shares Point-in-time
Inventories InventoryNet $656.20M USD Point-in-time
Inventories InventoryNet $562.90M USD Point-in-time
Other current assets OtherAssetsCurrent $112.30M USD Point-in-time
Other current assets OtherAssetsCurrent $134.60M USD Point-in-time
Total current assets AssetsCurrent $1.30B USD Point-in-time
Total current assets AssetsCurrent $1.54B USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $315.00M USD Point-in-time
Property, plant and equipment, net PropertyPlantAndEquipmentNet $310.00M USD Point-in-time
Goodwill Goodwill $2.49B USD Point-in-time
Goodwill Goodwill $2.50B USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $420.00M USD Point-in-time
Intangibles, net IntangibleAssetsNetExcludingGoodwill $428.00M USD Point-in-time
Other non-current assets OtherAssetsMiscellaneousNoncurrent $207.10M USD Point-in-time
Other non-current assets OtherAssetsMiscellaneousNoncurrent $205.80M USD Point-in-time
Total other assets OtherAssetsNoncurrent $3.14B USD Point-in-time
Total other assets OtherAssetsNoncurrent $3.12B USD Point-in-time
Total assets Assets $4.75B USD Point-in-time
Total assets Assets $4.98B USD Point-in-time
Accounts payable AccountsPayableCurrent $385.70M USD Point-in-time
Accounts payable AccountsPayableCurrent $396.80M USD Point-in-time
Employee compensation and benefits EmployeeRelatedLiabilitiesCurrent $102.00M USD Point-in-time
Employee compensation and benefits EmployeeRelatedLiabilitiesCurrent $140.10M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $525.90M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $515.60M USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.01B USD Point-in-time
Total current liabilities LiabilitiesCurrent $1.05B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $1.09B USD Point-in-time
Long-term debt LongTermDebtNoncurrent $894.10M USD Point-in-time
Pension and other post-retirement compensation and benefits PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $93.20M USD Point-in-time
Pension and other post-retirement compensation and benefits PensionAndOtherPostretirementDefinedBenefitPlansLiabilitiesNoncurrent $91.80M USD Point-in-time
Deferred tax liabilities DeferredIncomeTaxLiabilitiesNet $89.80M USD Point-in-time
Deferred tax liabilities DeferredIncomeTaxLiabilitiesNet $85.10M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $202.90M USD Point-in-time
Other non-current liabilities OtherLiabilitiesNoncurrent $189.60M USD Point-in-time
Total liabilities Liabilities $2.33B USD Point-in-time
Total liabilities Liabilities $2.47B USD Point-in-time
Ordinary shares $0.01 par value, 426.0 authorized, 165.4 and 165.1 issued at March 31, 2022 and December 31, 2021, respectively CommonStockValueOutstanding $1.70M USD Point-in-time
Ordinary shares $0.01 par value, 426.0 authorized, 165.4 and 165.1 issued at March 31, 2022 and December 31, 2021, respectively CommonStockValueOutstanding $1.70M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $1.58B USD Point-in-time
Additional paid-in capital AdditionalPaidInCapital $1.58B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.13B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.05B USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-213.90M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-214.70M USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.50B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.19B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.11B USD Point-in-time
Total equity StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.42B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $4.75B USD Point-in-time
Total liabilities and equity LiabilitiesAndStockholdersEquity $4.98B USD Point-in-time
Income Statement 50 line items
Line Item Tag Value Unit Period
Net sales Revenues $865.90M USD 1 Quarter
Net sales Revenues $999.60M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $550.70M USD 1 Quarter
Cost of goods sold CostOfGoodsAndServicesSold $667.40M USD 1 Quarter
Gross profit GrossProfit $332.20M USD 1 Quarter
Gross profit GrossProfit $315.20M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $164.10M USD 1 Quarter
Selling, general and administrative expenses SellingGeneralAndAdministrativeExpense $136.60M USD 1 Quarter
Research and development expenses ResearchAndDevelopmentExpense $22.30M USD 1 Quarter
Research and development expenses ResearchAndDevelopmentExpense $21.50M USD 1 Quarter
Operating income OperatingIncomeLoss $157.10M USD 1 Quarter
Operating income OperatingIncomeLoss $145.80M USD 1 Quarter
Net interest expense InterestIncomeExpenseNet $-5.70M USD 1 Quarter
Net interest expense InterestIncomeExpenseNet $-5.10M USD 1 Quarter
Other expense OtherNonoperatingIncomeExpense $-400.00K USD 1 Quarter
Other expense OtherNonoperatingIncomeExpense $-100.00K USD 1 Quarter
Income from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $140.00M USD 1 Quarter
Income from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest $151.60M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $20.50M USD 1 Quarter
Provision for income taxes IncomeTaxExpenseBenefit $21.50M USD 1 Quarter
Net income from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $118.50M USD 1 Quarter
Net income from continuing operations IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest $131.10M USD 1 Quarter
Loss from discontinued operations, net of tax DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax $-2.50M USD 1 Quarter
Loss from discontinued operations, net of tax DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax $-900.00K USD 1 Quarter
Net income ProfitLoss $128.60M USD 1 Quarter
Net income ProfitLoss $117.60M USD 1 Quarter
Net income ProfitLoss $128.60M USD 1 Quarter
Net income ProfitLoss $117.60M USD 1 Quarter
Changes in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax $-7.40M USD 1 Quarter
Changes in cumulative translation adjustment OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax $-20.70M USD 1 Quarter
Changes in market value of derivative financial instruments, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $17.00M USD 1 Quarter
Changes in market value of derivative financial instruments, net of tax OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent $6.60M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $116.80M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $124.90M USD 1 Quarter
Continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerBasicShare $0.72 USD 1 Quarter
Continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerBasicShare $0.79 USD 1 Quarter
Discontinued operations (in dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $-0.02 USD 1 Quarter
Discontinued operations (in dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $-0.01 USD 1 Quarter
Basic earnings per ordinary share (in dollars per share) EarningsPerShareBasic $0.71 USD 1 Quarter
Basic earnings per ordinary share (in dollars per share) EarningsPerShareBasic $0.77 USD 1 Quarter
Continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerDilutedShare $0.71 USD 1 Quarter
Continuing operations (in dollars per share) IncomeLossFromContinuingOperationsPerDilutedShare $0.78 USD 1 Quarter
Discontinued operations (in dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $-0.01 USD 1 Quarter
Discontinued operations (in dollars per share) IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $-0.01 USD 1 Quarter
Diluted earnings per ordinary share (in dollars per share) EarningsPerShareDiluted $0.70 USD 1 Quarter
Diluted earnings per ordinary share (in dollars per share) EarningsPerShareDiluted $0.77 USD 1 Quarter
Basic (shares) WeightedAverageNumberOfSharesOutstandingBasic 166.20M shares 1 Quarter
Basic (shares) WeightedAverageNumberOfSharesOutstandingBasic 165.30M shares 1 Quarter
Diluted (shares) WeightedAverageNumberOfDilutedSharesOutstanding 166.50M shares 1 Quarter
Diluted (shares) WeightedAverageNumberOfDilutedSharesOutstanding 167.70M shares 1 Quarter
Cash Flow Statement 70 line items
Line Item Tag Value Unit Period
Net income ProfitLoss $128.60M USD 1 Quarter
Net income ProfitLoss $117.60M USD 1 Quarter
Loss from discontinued operations, net of tax IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity $-900.00K USD 1 Quarter
Loss from discontinued operations, net of tax IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity $-2.50M USD 1 Quarter
Equity income of unconsolidated subsidiaries IncomeLossFromEquityMethodInvestments $500.00K USD 1 Quarter
Equity income of unconsolidated subsidiaries IncomeLossFromEquityMethodInvestments $200.00K USD 1 Quarter
Depreciation Depreciation $12.70M USD 1 Quarter
Depreciation Depreciation $13.00M USD 1 Quarter
Amortization AmortizationOfIntangibleAssets $7.10M USD 1 Quarter
Amortization AmortizationOfIntangibleAssets $6.60M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-3.70M USD 1 Quarter
Deferred income taxes DeferredIncomeTaxesAndTaxCredits $-2.80M USD 1 Quarter
Share-based compensation ShareBasedCompensation $6.90M USD 1 Quarter
Share-based compensation ShareBasedCompensation $5.60M USD 1 Quarter
Amortization of Bridge Financing Fees AmortizationOfFinancingCosts $2.60M USD 1 Quarter
Amortization of Bridge Financing Fees AmortizationOfFinancingCosts - USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $202.40M USD 1 Quarter
Accounts receivable IncreaseDecreaseInAccountsReceivable $116.10M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $12.50M USD 1 Quarter
Inventories IncreaseDecreaseInInventories $95.10M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $23.50M USD 1 Quarter
Other current assets IncreaseDecreaseInOtherCurrentAssets $16.60M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $10.40M USD 1 Quarter
Accounts payable IncreaseDecreaseInAccountsPayable $54.80M USD 1 Quarter
Employee compensation and benefits IncreaseDecreaseInOtherEmployeeRelatedLiabilities $-14.80M USD 1 Quarter
Employee compensation and benefits IncreaseDecreaseInOtherEmployeeRelatedLiabilities $-37.50M USD 1 Quarter
Other current liabilities IncreaseDecreaseInOtherCurrentLiabilities $-12.40M USD 1 Quarter
Other current liabilities IncreaseDecreaseInOtherCurrentLiabilities $17.70M USD 1 Quarter
Other non-current assets and liabilities IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet $-1.50M USD 1 Quarter
Other non-current assets and liabilities IncreaseDecreaseInOtherNoncurrentAssetsAndLiabilitiesNet $700.00K USD 1 Quarter
Net cash used for operating activities of continuing operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-18.80M USD 1 Quarter
Net cash used for operating activities of continuing operations NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $-131.50M USD 1 Quarter
Net cash used for operating activities of discontinued operations CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations - USD 1 Quarter
Net cash used for operating activities of discontinued operations CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations $-200.00K USD 1 Quarter
Net cash used for operating activities NetCashProvidedByUsedInOperatingActivities $-131.50M USD 1 Quarter
Net cash used for operating activities NetCashProvidedByUsedInOperatingActivities $-19.00M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $17.70M USD 1 Quarter
Capital expenditures PaymentsToAcquirePropertyPlantAndEquipment $13.20M USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment - USD 1 Quarter
Proceeds from sale of property and equipment ProceedsFromSaleOfPropertyPlantAndEquipment $3.40M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired $1.40M USD 1 Quarter
Acquisitions, net of cash acquired PaymentsToAcquireBusinessesNetOfCashAcquired - USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-19.10M USD 1 Quarter
Net cash used for investing activities NetCashProvidedByUsedInInvestingActivities $-9.80M USD 1 Quarter
Net borrowings of revolving long-term debt ProceedsFromRepaymentsOfLinesOfCredit $92.40M USD 1 Quarter
Net borrowings of revolving long-term debt ProceedsFromRepaymentsOfLinesOfCredit $199.60M USD 1 Quarter
Debt issuance costs PaymentsOfDebtIssuanceCosts - USD 1 Quarter
Debt issuance costs PaymentsOfDebtIssuanceCosts $5.80M USD 1 Quarter
Shares issued to employees, net of shares withheld ProceedsIssuanceOfSharesShareBasedPaymentArrangementIncludingOptionExercisedNetOfSharesWithheld $-200.00K USD 1 Quarter
Shares issued to employees, net of shares withheld ProceedsIssuanceOfSharesShareBasedPaymentArrangementIncludingOptionExercisedNetOfSharesWithheld $-5.30M USD 1 Quarter
Repurchases of ordinary shares PaymentsForRepurchaseOfCommonStock $9.60M USD 1 Quarter
Repurchases of ordinary shares PaymentsForRepurchaseOfCommonStock - USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $33.30M USD 1 Quarter
Dividends paid PaymentsOfDividendsCommonStock $34.70M USD 1 Quarter
Payments upon the maturity of cross currency swaps PaymentsForHedgeFinancingActivities - USD 1 Quarter
Payments upon the maturity of cross currency swaps PaymentsForHedgeFinancingActivities $14.70M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $153.80M USD 1 Quarter
Net cash provided by financing activities NetCashProvidedByUsedInFinancingActivities $34.60M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $4.60M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $7.10M USD 1 Quarter
Change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $7.80M USD 1 Quarter
Change in cash and cash equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect $12.90M USD 1 Quarter
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $95.00M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $102.30M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $82.10M USD Point-in-time
Cash and cash equivalents, beginning of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $94.50M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $95.00M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $102.30M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $82.10M USD Point-in-time
Cash and cash equivalents, end of period CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $94.50M USD Point-in-time
Stockholders Equity 26 line items
Line Item Tag Value Unit Period
Dividends (in dollars per share) CommonStockDividendsPerShareDeclared $0.20 USD 1 Quarter
Dividends (in dollars per share) CommonStockDividendsPerShareDeclared $0.21 USD 1 Quarter
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.50B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.19B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.11B USD Point-in-time
Beginning Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.42B USD Point-in-time
Net income ProfitLoss $128.60M USD 1 Quarter
Net income ProfitLoss $117.60M USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $-800.00K USD 1 Quarter
Other comprehensive income, net of tax OtherComprehensiveIncomeLossNetOfTax $-3.70M USD 1 Quarter
Dividends declared DividendsCommonStock $33.30M USD 1 Quarter
Dividends declared DividendsCommonStock $36.40M USD 1 Quarter
Share repurchase (in shares) StockRepurchasedDuringPeriodShares 0.00 shares 1 Quarter
Share repurchases StockRepurchasedDuringPeriodValue $9.60M USD 1 Quarter
Exercise of options, net of shares tendered for payment StockIssuedDuringPeriodValueStockOptionsExercised $5.20M USD 1 Quarter
Exercise of options, net of shares tendered for payment StockIssuedDuringPeriodValueStockOptionsExercised $500.00K USD 1 Quarter
Issuance of restricted shares, net of cancellations StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures $-2.20M USD 1 Quarter
Issuance of restricted shares, net of cancellations StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures - USD 1 Quarter
Shares surrendered by employees to pay taxes SharesSurrenderedByEmployees $5.30M USD 1 Quarter
Shares surrendered by employees to pay taxes SharesSurrenderedByEmployees $3.60M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $5.60M USD 1 Quarter
Share-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $6.90M USD 1 Quarter
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.50B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.19B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.11B USD Point-in-time
Ending Balance StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $2.42B USD Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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