10-Q Filing

ALLEGION PLC CIK: 1579241 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001579241-23-000039`
Period End Date	20230630
Filing Date	20230726
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	alle-20230630_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 74 Cash Flow Statement 54

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
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
Ordinary shares, issued (in shares)	`CommonStockSharesIssued`	87.78M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$288.00M	USD	Point-in-time
Ordinary shares, issued (in shares)	`CommonStockSharesIssued`	87.85M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$322.60M	USD	Point-in-time
Ordinary shares, outstanding (in shares)	`CommonStockSharesOutstanding`	87.78M	shares	Point-in-time
Accounts and notes receivable, net	`ReceivablesNetCurrent`	$395.60M	USD	Point-in-time
Accounts and notes receivable, net	`ReceivablesNetCurrent`	$423.20M	USD	Point-in-time
Ordinary shares, outstanding (in shares)	`CommonStockSharesOutstanding`	87.85M	shares	Point-in-time
Inventories	`InventoryNet`	$479.00M	USD	Point-in-time
Inventories	`InventoryNet`	$483.10M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$46.30M	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$48.50M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$3.50M	USD	Point-in-time
Assets held for sale	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	-	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.21B	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.28B	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$308.70M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$329.10M	USD	Point-in-time
Goodwill	`Goodwill`	$1.41B	USD	Point-in-time
Goodwill	`Goodwill`	$1.44B	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$608.90M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$603.60M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$516.80M	USD	Point-in-time
Other noncurrent assets	`OtherAssetsNoncurrent`	$445.90M	USD	Point-in-time
Total assets	`Assets`	$4.16B	USD	Point-in-time
Total assets	`Assets`	$3.99B	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$280.70M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$265.20M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$383.00M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedLiabilitiesCurrent`	$410.30M	USD	Point-in-time
Short-term borrowings and current maturities of long-term debt	`DebtCurrent`	$12.60M	USD	Point-in-time
Short-term borrowings and current maturities of long-term debt	`DebtCurrent`	$12.60M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$660.80M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$703.60M	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.08B	USD	Point-in-time
Long-term debt	`LongTermDebtNoncurrent`	$2.05B	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$261.20M	USD	Point-in-time
Other noncurrent liabilities	`OtherLiabilitiesNoncurrent`	$315.80M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.05B	USD	Point-in-time
Total liabilities	`Liabilities`	$3.02B	USD	Point-in-time
Ordinary shares, $0.01 par value (87,776,523 and 87,852,777 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively)	`CommonStockValue`	$900.00K	USD	Point-in-time
Ordinary shares, $0.01 par value (87,776,523 and 87,852,777 shares issued and outstanding at June 30, 2023 and December 31, 2022, respectively)	`CommonStockValue`	$900.00K	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$5.30M	USD	Point-in-time
Capital in excess of par value	`AdditionalPaidInCapitalCommonStock`	$13.90M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.21B	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$1.40B	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-264.60M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-266.80M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-194.40M	USD	Point-in-time
Accumulated other comprehensive loss	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$-285.80M	USD	Point-in-time
Total Allegion plc shareholders equity	`StockholdersEquity`	$941.80M	USD	Point-in-time
Total Allegion plc shareholders equity	`StockholdersEquity`	$1.14B	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$2.70M	USD	Point-in-time
Noncontrolling interests	`MinorityInterest`	$1.90M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.14B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$762.40M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$1.04B	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$779.70M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$745.00M	USD	Point-in-time
Total equity	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$944.50M	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$3.99B	USD	Point-in-time
Total liabilities and equity	`LiabilitiesAndStockholdersEquity`	$4.16B	USD	Point-in-time

Income Statement 74 line items

Line Item	Tag	Value	Unit	Period
Net revenues	`Revenues`	$1.84B	USD	2 Qtrs
Net revenues	`Revenues`	$773.10M	USD	1 Quarter
Net revenues	`Revenues`	$1.50B	USD	2 Qtrs
Net revenues	`Revenues`	$912.50M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$458.10M	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$893.00M	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$1.04B	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$510.60M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$217.30M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$339.60M	USD	2 Qtrs
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$167.90M	USD	1 Quarter
Selling and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$437.30M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$264.10M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$355.60M	USD	2 Qtrs
Operating income	`OperatingIncomeLoss`	$147.10M	USD	1 Quarter
Operating income	`OperatingIncomeLoss`	$184.60M	USD	1 Quarter
Interest expense	`InterestExpense`	$17.20M	USD	1 Quarter
Interest expense	`InterestExpense`	$23.70M	USD	1 Quarter
Interest expense	`InterestExpense`	$29.10M	USD	2 Qtrs
Interest expense	`InterestExpense`	$47.30M	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$3.40M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$1.60M	USD	1 Quarter
Other income, net	`OtherNonoperatingIncomeExpense`	$5.60M	USD	2 Qtrs
Other income, net	`OtherNonoperatingIncomeExpense`	$1.90M	USD	2 Qtrs
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$240.60M	USD	2 Qtrs
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$133.30M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$162.50M	USD	1 Quarter
Earnings before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$310.20M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$18.10M	USD	1 Quarter
Provision for income taxes	`IncomeTaxExpenseBenefit`	$32.30M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$44.60M	USD	2 Qtrs
Provision for income taxes	`IncomeTaxExpenseBenefit`	$20.50M	USD	1 Quarter
Net earnings	`ProfitLoss`	$208.30M	USD	2 Qtrs
Net earnings	`ProfitLoss`	$123.60M	USD	1 Quarter
Net earnings	`ProfitLoss`	$142.00M	USD	1 Quarter
Net earnings	`ProfitLoss`	$93.10M	USD	1 Quarter
Net earnings	`ProfitLoss`	$265.60M	USD	2 Qtrs
Net earnings	`ProfitLoss`	$115.20M	USD	1 Quarter
Less: Net earnings attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$100.00K	USD	2 Qtrs
Less: Net earnings attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$100.00K	USD	1 Quarter
Less: Net earnings attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Less: Net earnings attributable to noncontrolling interests	`NetIncomeLossAttributableToNoncontrollingInterest`	$200.00K	USD	2 Qtrs
Net earnings attributable to Allegion plc	`NetIncomeLoss`	$208.10M	USD	2 Qtrs
Net earnings attributable to Allegion plc	`NetIncomeLoss`	$115.10M	USD	1 Quarter
Net earnings attributable to Allegion plc	`NetIncomeLoss`	$142.00M	USD	1 Quarter
Net earnings attributable to Allegion plc	`NetIncomeLoss`	$265.50M	USD	2 Qtrs
Basic net earnings (in dollars per share)	`EarningsPerShareBasic`	$1.31	USD	1 Quarter
Basic net earnings (in dollars per share)	`EarningsPerShareBasic`	$3.02	USD	2 Qtrs
Basic net earnings (in dollars per share)	`EarningsPerShareBasic`	$1.62	USD	1 Quarter
Basic net earnings (in dollars per share)	`EarningsPerShareBasic`	$2.36	USD	2 Qtrs
Diluted net earnings (in dollars per share)	`EarningsPerShareDiluted`	$2.35	USD	2 Qtrs
Diluted net earnings (in dollars per share)	`EarningsPerShareDiluted`	$1.30	USD	1 Quarter
Diluted net earnings (in dollars per share)	`EarningsPerShareDiluted`	$3.01	USD	2 Qtrs
Diluted net earnings (in dollars per share)	`EarningsPerShareDiluted`	$1.61	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	88.00M	shares	2 Qtrs
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	87.90M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	87.90M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	88.00M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	88.30M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	88.40M	shares	2 Qtrs
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	88.20M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	88.30M	shares	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$65.40M	USD	1 Quarter
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$283.80M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$137.50M	USD	2 Qtrs
Total comprehensive income	`ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest`	$149.90M	USD	1 Quarter
Less: Total comprehensive loss attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-400.00K	USD	2 Qtrs
Less: Total comprehensive loss attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-900.00K	USD	1 Quarter
Less: Total comprehensive loss attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-500.00K	USD	1 Quarter
Less: Total comprehensive loss attributable to noncontrolling interests	`ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest`	$-700.00K	USD	2 Qtrs
Total comprehensive income attributable to Allegion plc	`ComprehensiveIncomeNetOfTax`	$65.90M	USD	1 Quarter
Total comprehensive income attributable to Allegion plc	`ComprehensiveIncomeNetOfTax`	$150.80M	USD	1 Quarter
Total comprehensive income attributable to Allegion plc	`ComprehensiveIncomeNetOfTax`	$137.90M	USD	2 Qtrs
Total comprehensive income attributable to Allegion plc	`ComprehensiveIncomeNetOfTax`	$284.50M	USD	2 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net earnings	`ProfitLoss`	$208.30M	USD	2 Qtrs
Net earnings	`ProfitLoss`	$123.60M	USD	1 Quarter
Net earnings	`ProfitLoss`	$142.00M	USD	1 Quarter
Net earnings	`ProfitLoss`	$93.10M	USD	1 Quarter
Net earnings	`ProfitLoss`	$265.60M	USD	2 Qtrs
Net earnings	`ProfitLoss`	$115.20M	USD	1 Quarter
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$55.50M	USD	2 Qtrs
Depreciation and amortization	`DepreciationAmortizationAndAccretionNet`	$40.10M	USD	2 Qtrs
Changes in assets and liabilities and other non-cash items	`IncreaseDecreaseInOtherOperatingCapitalNet`	$139.30M	USD	2 Qtrs
Changes in assets and liabilities and other non-cash items	`IncreaseDecreaseInOtherOperatingCapitalNet`	$91.00M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$109.10M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$230.10M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$24.60M	USD	2 Qtrs
Capital expenditures	`PaymentsToAcquireProductiveAssets`	$40.00M	USD	2 Qtrs
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	$28.60M	USD	2 Qtrs
Acquisition of businesses, net of cash acquired	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	-	USD	2 Qtrs
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-7.40M	USD	2 Qtrs
Other investing activities, net	`PaymentsForProceedsFromOtherInvestingActivities`	$-700.00K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-61.20M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-23.90M	USD	2 Qtrs
Debt repayments, net	`ProceedsFromRepaymentsOfOtherDebt`	$-6.30M	USD	2 Qtrs
Debt repayments, net	`ProceedsFromRepaymentsOfOtherDebt`	$-6.30M	USD	2 Qtrs
Proceeds from 2021 Revolving Facility	`ProceedsFromLinesOfCredit`	-	USD	2 Qtrs
Proceeds from 2021 Revolving Facility	`ProceedsFromLinesOfCredit`	$30.00M	USD	2 Qtrs
Repayments of 2021 Revolving Facility	`RepaymentsOfLinesOfCredit`	-	USD	2 Qtrs
Repayments of 2021 Revolving Facility	`RepaymentsOfLinesOfCredit`	$60.00M	USD	2 Qtrs
Proceeds from issuance of senior notes	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	2 Qtrs
Proceeds from issuance of senior notes	`ProceedsFromIssuanceOfLongTermDebt`	$600.00M	USD	2 Qtrs
Net proceeds from (repayments of) debt	`ProceedsFromRepaymentsOfDebt`	$-36.30M	USD	2 Qtrs
Net proceeds from (repayments of) debt	`ProceedsFromRepaymentsOfDebt`	$593.70M	USD	2 Qtrs
Payments of Debt Issuance Costs	`PaymentsOfDebtIssuanceCosts`	-	USD	2 Qtrs
Payments of Debt Issuance Costs	`PaymentsOfDebtIssuanceCosts`	$9.10M	USD	2 Qtrs
Dividends paid to ordinary shareholders	`PaymentsOfDividendsCommonStock`	$71.50M	USD	2 Qtrs
Dividends paid to ordinary shareholders	`PaymentsOfDividendsCommonStock`	$79.30M	USD	2 Qtrs
Repurchase of ordinary shares	`PaymentsForRepurchaseOfCommonStock`	$19.90M	USD	2 Qtrs
Repurchase of ordinary shares	`PaymentsForRepurchaseOfCommonStock`	$61.00M	USD	2 Qtrs
Repurchase of ordinary shares	`PaymentsForRepurchaseOfCommonStock`	$19.90M	USD	1 Quarter
Repurchase of ordinary shares	`PaymentsForRepurchaseOfCommonStock`	$61.00M	USD	1 Quarter
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-3.70M	USD	2 Qtrs
Other financing activities, net	`ProceedsFromPaymentsForOtherFinancingActivities`	$-2.90M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$448.40M	USD	2 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-138.40M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$-11.90M	USD	2 Qtrs
Effect of exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$4.10M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$34.60M	USD	2 Qtrs
Net increase in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$521.70M	USD	2 Qtrs
Cash and cash equivalents - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$919.60M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$397.90M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$288.00M	USD	Point-in-time
Cash and cash equivalents - beginning of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$322.60M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$919.60M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$397.90M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$288.00M	USD	Point-in-time
Cash and cash equivalents - end of period	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$322.60M	USD	Point-in-time

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