Document and Entity Information - USD ($) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Feb. 10, 2017 |
Jun. 30, 2016 |
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Document And Entity Information [Abstract] | |||
Entity Registrant Name | HUBBELL INCORPORATED | ||
Entity Central Index Key | 0000048898 | ||
Document Period End Date | Dec. 31, 2016 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Year Focus | 2016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock Shares Outstanding (shares) | 55,446,167 | ||
Entity Well Known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 5,763,377,247 |
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- Definition If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Definition The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition State aggregate market value of voting and non-voting common equity held by non-affiliates computed by reference to price at which the common equity was last sold, or average bid and asked price of such common equity, as of the last business day of registrant's most recently completed second fiscal quarter. The public float should be reported on the cover page of the registrants form 10K. No definition available.
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- Definition The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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- Definition Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- References No definition available.
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Consolidated Statement of Income - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
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Income Statement [Abstract] | |||
Net sales | $ 3,505.2 | $ 3,390.4 | $ 3,359.4 |
Cost of goods sold | 2,404.5 | 2,298.6 | 2,250.4 |
Gross profit | 1,100.7 | 1,091.8 | 1,109.0 |
Selling & administrative expenses | 622.9 | 617.2 | 591.6 |
Operating income | 477.8 | 474.6 | 517.4 |
Interest expense | (43.4) | (31.0) | (31.2) |
Investment income | 0.5 | 0.5 | 1.1 |
Other expense, net | (4.5) | (25.5) | (1.8) |
Total other expense | (47.4) | (56.0) | (31.9) |
Income before income taxes | 430.4 | 418.6 | 485.5 |
Provision for income taxes | 132.6 | 136.5 | 158.3 |
Net income | 297.8 | 282.1 | 327.2 |
Less: Net income attributable to noncontrolling interest | 4.8 | 4.8 | 1.9 |
NET INCOME ATTRIBUTABLE TO HUBBELL | $ 293.0 | $ 277.3 | $ 325.3 |
Earnings per share | |||
Basic (USD per share) | $ 5.26 | $ 4.79 | $ 5.51 |
Diluted (USD per share) | $ 5.24 | $ 4.77 | $ 5.48 |
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- Definition Sum of net interest income or expense derived from banking operations and the net amount of other nonoperating income and expense, which does not qualify for separate disclosure on the income statement under materiality guidelines. No definition available.
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- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after accretion (amortization) of discount (premium), and investment expense, of interest income and dividend income on nonoperating securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statement of Comprehensive Income - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
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Statement of Comprehensive Income [Abstract] | |||
Net income | $ 297.8 | $ 282.1 | $ 327.2 |
Other comprehensive (loss) income: | |||
Foreign currency translation adjustments | (35.4) | (45.5) | (35.7) |
Pension and post retirement benefit plans’ service costs and net actuarial (losses) gains, net of taxes of $18.9, $10.7 and $33.9 | (40.3) | (15.5) | (57.7) |
Unrealized loss on investments, net of taxes of $0.1, $0.2 and $0.0 | (1.2) | (0.3) | (0.1) |
Unrealized gains (losses) on cash flow hedges, net of taxes of $0.5, ($0.3) and ($0.1) | (1.4) | 1.4 | 0.2 |
Other comprehensive (loss) income | (78.3) | (59.9) | (93.3) |
Comprehensive income | 219.5 | 222.2 | 233.9 |
Less: Comprehensive income attributable to noncontrolling interest | 4.8 | 4.8 | 1.9 |
COMPREHENSIVE INCOME ATTRIBUTABLE TO HUBBELL | $ 214.7 | $ 217.4 | $ 232.0 |
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount after tax, before reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax and reclassification adjustments, of appreciation (loss) in value of unsold available-for-sale securities. Excludes amounts related to other than temporary impairment (OTTI) loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax and reclassification adjustments, of increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax and reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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Consolidated Statement of Comprehensive Income (Parenthetical) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
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Other Comprehensive Income (Loss), Tax, Portion Attributable to Parent, Parenthetical Disclosures [Abstract] | |||
Adjustment to pension and other benefit plans tax impact | $ 18.9 | $ 10.7 | $ 33.9 |
Unrealized gain or loss on investment tax impact | 0.1 | 0.2 | 0.0 |
Unrealized gain or loss on cash flow hedge tax impact | $ 0.5 | $ (0.3) | $ (0.1) |
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- Definition Amount of tax expense (benefit) related to (increase) decrease in the value of the projected benefit obligation related to a change in an actuarial assumption and increase (decrease) in the value of the plan assets resulting from experience different from that assumed, that has not been recognized in net periodic benefit (cost) credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of tax expense (benefit), after reclassification adjustments, of appreciation (loss) in value of unsold available-for-sale securities. Excludes amounts related to other than temporary impairment (OTTI) loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of tax expense (benefit), before reclassification adjustments, related to increase (decrease) in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges and an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Carrying value as of the balance sheet date of obligations incurred through that date and payable to insurance entities to mitigate potential loss from various risks or to satisfy a promise to provide certain coverage's to employees. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Value of all classes of common stock held by shareholders. May be all or portion of the number of common shares authorized. These shares exclude common shares repurchased by the entity and held as treasury shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts of all intangible assets, excluding goodwill, as of the balance sheet date, net of accumulated amortization and impairment charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Aggregated carrying amounts of obligations as of the balance sheet date, excluding long-term debt, incurred as part of the normal operations that are expected to be paid after one year or beyond the normal operating cycle, if longer. Alternate captions include Total Deferred Credits and Other Liabilities. No definition available.
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- Definition Amount after unamortized (discount) premium and debt issuance costs of long-term debt classified as noncurrent and excluding amounts to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total debt and equity financial instruments including: (1) securities held-to-maturity and (2) securities available-for-sale that will be held for the long-term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which is directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent (that is, noncontrolling interest, previously referred to as minority interest). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of current assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of noncurrent assets classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The total amount due to the entity within one year of the balance sheet date (or one operating cycle, if longer) from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such receivables to an amount that approximates their net realizable value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The cumulative amount of the reporting entity's undistributed earnings or deficit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of investments including trading securities, available-for-sale securities, held-to-maturity securities, and short-term investments classified as other and current. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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Consolidated Balance Sheet (Parenthetical) - $ / shares |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Statement of Financial Position [Abstract] | ||
Common stock, par value (USD per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (shares) | 200,000,000 | 200,000,000 |
Common stock, shares, outstanding (shares) | 55,532,307 | 57,836,533 |
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- Definition Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The maximum number of common shares permitted to be issued by an entity's charter and bylaws. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Accrued Liabilities, Repurchase Of Common Stock No definition available.
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- Definition Payments For Reclassification of Common Stock No definition available.
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- References No definition available.
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X | ||||||||||
- Definition Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of deferred income tax expense (benefit) and income tax credits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of cash inflow from realized tax benefit related to deductible compensation cost reported on the entity's tax return for equity instruments in excess of the compensation cost for those instruments recognized for financial reporting purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of cash outflow for realized tax benefit related to deductible compensation cost reported on the entity's tax return for equity instruments in excess of the compensation cost for those instruments recognized for financial reporting purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of gain (loss) on sale or disposal of property, plant and equipment assets, excluding oil and gas property and timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in the amounts payable to vendors for goods and services received and the amount of obligations and expenses incurred but not paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of increase (decrease) in operating assets after deduction of operating liabilities classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of income (expense) included in net income that results in no cash inflow (outflow), classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash (inflow) outflow from investing activities classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow to reacquire common stock during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The cash outflow paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash outflow in the form of ordinary dividends to common shareholders of the parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash outflow in the form of ordinary dividends provided by the non-wholly owned subsidiary to noncontrolling interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of cash or cash equivalents contributed by the entity to fund its pension plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of cash inflow (outflow) from financing activities classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash inflow associated with the sale or maturity (principal being due) of securities not classified as either held-to-maturity securities or trading securities which are classified as available-for-sale securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash inflow from the sale of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash inflow from a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow for a borrowing having initial term of repayment within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Consolidated Statement of Changes in Equity - USD ($) $ in Millions |
Total |
Common Stock |
Common Stock
Class A Common Stock
|
Common Stock
Class B Common Stock
|
Additional Paid-in Capital |
Retained Earnings |
Accumulated Other Comprehensive Income (Loss) |
Total Hubbell Shareholders' Equity |
Non- controlling interest |
---|---|---|---|---|---|---|---|---|---|
Beginning of period at Dec. 31, 2013 | $ 0.1 | $ 0.5 | $ 236.6 | $ 1,740.2 | $ (71.0) | $ 1,906.4 | $ 8.4 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income | $ 327.2 | 325.3 | 325.3 | 1.9 | |||||
Other comprehensive (loss) income | (93.3) | (93.3) | (93.3) | ||||||
Stock-based compensation | 15.8 | 15.8 | |||||||
Exercise of stock options | 2.4 | 2.4 | |||||||
Income tax windfall from stock-based awards, net | 9.2 | 9.2 | |||||||
Acquisition/surrender of common shares | (117.3) | (117.3) | |||||||
Cash dividends declared | (121.4) | (121.4) | |||||||
Dividends to noncontrolling interest | (1.7) | ||||||||
End of period at Dec. 31, 2014 | 0.1 | 0.5 | 146.7 | 1,944.1 | (164.3) | 1,927.1 | 8.6 | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income | 282.1 | 277.3 | 277.3 | 4.8 | |||||
Other comprehensive (loss) income | (59.9) | (59.9) | (59.9) | ||||||
Stock-based compensation | 16.3 | 16.3 | |||||||
Exercise of stock options | 0.0 | 0.0 | |||||||
Income tax windfall from stock-based awards, net | 0.9 | 0.9 | |||||||
Acquisition/surrender of common shares | (92.6) | (92.6) | |||||||
Cash dividends declared | (133.8) | (133.8) | |||||||
Dividends to noncontrolling interest | (5.0) | ||||||||
Director's deferred compensation | 6.8 | 6.8 | |||||||
Share reclassification | $ 0.6 | (0.1) | (0.5) | (201.5) | (201.5) | ||||
End of period at Dec. 31, 2015 | 1,749.0 | 0.6 | 0.0 | 0.0 | 78.1 | 1,886.1 | (224.2) | 1,740.6 | 8.4 |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||||||
Net income | 297.8 | 293.0 | 293.0 | 4.8 | |||||
Other comprehensive (loss) income | (78.3) | (78.3) | (78.3) | ||||||
Stock-based compensation | 22.5 | 22.5 | |||||||
Income tax windfall from stock-based awards, net | 4.8 | 4.8 | |||||||
Acquisition/surrender of common shares | (90.4) | (155.5) | (245.9) | ||||||
Cash dividends declared | (144.3) | (144.3) | |||||||
Dividends to noncontrolling interest | 2.8 | ||||||||
Director's deferred compensation | 0.4 | 0.4 | |||||||
End of period at Dec. 31, 2016 | $ 1,603.2 | $ 0.6 | $ 0.0 | $ 0.0 | $ 15.4 | $ 1,879.3 | $ (302.5) | $ 1,592.8 | $ 10.4 |
X | ||||||||||
- Definition Acquisition and Surrender of Common Shares No definition available.
|
X | ||||||||||
- Definition Deferred Compensation Arrangement with Individual, Reclassification from Liability to Equity Award No definition available.
|
X | ||||||||||
- Definition Reclassification of Common Stock No definition available.
|
X | ||||||||||
- Definition Amount of increase (decrease) in additional paid in capital (APIC) resulting from a tax benefit (deficiency) associated with an share-based compensation plan other than an employee stock ownership plan (ESOP). No definition available.
|
X | ||||||||||
- Definition This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of paid and unpaid common stock dividends declared with the form of settlement in cash, stock and payment-in-kind (PIK). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Decrease in noncontrolling interest balance from payment of dividends or other distributions by the non-wholly owned subsidiary or partially owned entity, included in the consolidation of the parent entity, to the noncontrolling interest holders. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Value of stock issued as a result of the exercise of stock options. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
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X | ||||||||||
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X | ||||||||||
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X | ||||||||||
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X | ||||||||||
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X | ||||||||||
- Details
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Consolidated Statement of Changes in Equity (Parenthetical) - $ / shares |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Statement of Stockholders' Equity [Abstract] | |||
Common stock, dividends declared (USD per share) | $ 2.59 | $ 2.31 | $ 2.06 |
X | ||||||||||
- Definition Aggregate dividends declared during the period for each share of common stock outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
|
Significant Accounting Policies |
12 Months Ended | ||||||
---|---|---|---|---|---|---|---|
Dec. 31, 2016 | |||||||
Accounting Policies [Abstract] | |||||||
Significant Accounting Policies | Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Principles of Consolidation The Consolidated Financial Statements include all wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated. The Company participates in two joint ventures, one of which is accounted for using the equity method, the other has been consolidated in accordance with the consolidation accounting guidance. An analysis is performed to determine which reporting entity, if any, has a controlling financial interest in a variable interest entity (“VIE”) with a primarily qualitative analysis. The qualitative analysis is based on identifying the party that has both the power to direct the activities that most significantly impact the VIE’s economic performance (the “power criterion”) and the obligation to absorb losses from or the right to receive benefits of the VIE that could potentially be significant to the VIE (the “losses/benefit criterion”). The party that meets both these criteria is deemed to have a controlling financial interest. The party with the controlling financial interest is considered to be the primary beneficiary and as a result is required to consolidate the VIE. The Company has a 50% interest in a joint venture in Hong Kong, established as Hubbell Asia Limited (“HAL”). The principal objective of HAL is to manage the operations of its wholly-owned manufacturing company in China. Under the accounting guidance, the Company is the primary beneficiary of HAL and as a result consolidates HAL. This determination is based on the fact that HAL’s sole business purpose is to manufacture product exclusively for the Company (the power criterion) and the Company is financially responsible for ensuring HAL maintains a fixed operating margin (the losses/benefit criterion). The consolidation of HAL is not material to the Company’s consolidated financial statements. Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts in the Consolidated Financial Statements and accompanying Notes to Consolidated Financial Statements. Actual results could differ from the estimates that are used. Revenue Recognition The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed and determinable and collection is probable. Product is considered delivered to the customer once it has been shipped and title and risk of loss have been transferred. The majority of the Company’s revenue is recognized at the time of shipment. The Company recognizes less than one percent of total annual consolidated net revenue from post shipment obligations and service contracts, primarily within the Electrical segment. Revenue is recognized under these contracts when the service is completed and all conditions of sale have been met. In addition, within the Electrical segment, certain businesses sell large and complex equipment which requires construction and assembly and occasionally has long lead times. It is customary in these businesses to require a portion of the selling price to be paid in advance of construction. These payments are treated as deferred revenue and are classified in Other accrued liabilities in the Consolidated Balance Sheet. Once the equipment is shipped to the customer and meets the revenue recognition criteria, the deferred revenue is recognized in the Consolidated Statement of Income. Further, certain of our businesses provide for sales discounts and allowances based on sales volumes, specific programs and customer deductions, as is customary in the electrical products industry. These items primarily relate to sales volume incentives, special pricing allowances, and returned goods. Sales volume incentives represent rebates with specific sales volume targets for specific customers. Certain distributors qualify for price rebates by subsequently reselling the Company’s products into select channels of end users. Following a distributor’s sale of an eligible product, the distributor submits a claim for a price rebate. Customers also have a right to return goods under certain circumstances which are reasonably estimable by affected businesses. Customer returns have historically ranged from 1%-2% of gross sales. These arrangements require us to estimate at the time of sale the amounts that should not be recorded as revenue as these amounts are not expected to be collected from customers. The Company principally relies on historical experience, specific customer agreements and anticipated future trends to estimate these amounts at the time of shipment. Shipping and Handling Fees and Costs The Company records shipping and handling costs as part of Cost of goods sold in the Consolidated Statement of Income. Any amounts billed to customers for reimbursement of shipping and handling are included in Net sales in the Consolidated Statement of Income. Foreign Currency Translation The assets and liabilities of international subsidiaries are translated to U.S. dollars at exchange rates in effect at the end of the year, and income and expense items are translated at average exchange rates in effect during the year. The effects of exchange rate fluctuations on the translated amounts of foreign currency assets and liabilities are included as translation adjustments in Accumulated other comprehensive loss within Hubbell shareholders’ equity. Gains and losses from foreign currency transactions are included in results of operations. Cash and Cash Equivalents The carrying value of cash equivalents approximates fair value. Cash equivalents consist of highly liquid investments with original maturities to the Company of three months or less. Investments Investments in debt and equity securities are classified by individual security as available-for-sale, held-to-maturity or trading securities. Our available-for-sale securities, consisting of municipal bonds and the redeemable preferred stock of a privately held company, are carried on the balance sheet at fair value with current period adjustments to carrying value recorded in Accumulated other comprehensive loss within Hubbell shareholders’ equity, net of tax. Realized gains and losses are recorded in income in the period of sale. The Company’s trading securities are carried on the balance sheet at fair value and consist primarily of debt and equity mutual funds. Gains and losses associated with these trading securities are reflected in the results of operations. The Company did not have any investments classified as held-to-maturity as of December 31, 2016 and 2015. Accounts Receivable and Allowances Trade accounts receivable are recorded at the invoiced amount and generally do not bear interest. The allowance for doubtful accounts is based on an estimated amount of probable credit losses in existing accounts receivable. The allowance is calculated based upon a combination of historical write-off experience, fixed percentages applied to aging categories and specific identification based upon a review of past due balances and problem accounts. Account balances are charged off against the allowance when it is determined that internal collection efforts should no longer be pursued. The Company also maintains a reserve for credit memos, cash discounts and product returns which are principally calculated based upon historical experience, specific customer agreements, as well as anticipated future trends. Inventories Inventories are stated at the lower of cost or market value. Approximately 72% of total net inventory value is determined utilizing the last-in, first-out (LIFO) method of inventory accounting. The cost of foreign inventories and certain domestic inventories is determined utilizing average cost or first-in, first-out (FIFO) methods of inventory accounting. Reserves for excess and obsolete inventory are provided based on current assessments about future demand compared to on-hand quantities. Property, Plant, and Equipment Property, plant, and equipment values are stated at cost less accumulated depreciation. Maintenance and repair expenditures that do not significantly increase the life of an asset are charged to expense when incurred. Property, plant, and equipment placed in service prior to January 1, 1999 are depreciated over their estimated useful lives, principally using accelerated methods. Assets placed in service subsequent to January 1, 1999 are depreciated over their estimated useful lives, using straight-line methods. Leasehold improvements are amortized over the shorter of their economic lives or the lease term. Gains and losses arising on the disposal of property, plant and equipment are included in Operating income in the Consolidated Statement of Income. Capitalized Computer Software Costs Capitalized computer software costs, net of amortization, were $15.6 million and $12.4 million at December 31, 2016 and 2015, respectively. This balance is reflected in Other long-term assets in the Consolidated Balance Sheet. Capitalized computer software is for internal use and costs primarily consist of purchased materials and services. Software is amortized on a straight-line basis over appropriate periods, generally five years. The Company recorded amortization expense of $5.2 million in 2016, $4.6 million in 2015 and $4.3 million in 2014 relating to capitalized computer software. Goodwill and Other Intangible Assets Goodwill represents purchase price in excess of fair values of the underlying net assets of acquired companies. Indefinite-lived intangible assets and goodwill are subject to annual impairment testing using the specific guidance and criteria described in the accounting guidance. The Company performs its goodwill impairment testing as of April 1st of each year, unless circumstances dictate the need for more frequent assessments. The accounting guidance provides entities an option of performing a qualitative assessment (a "step-zero" test) before performing a quantitative analysis. If the entity determines, on the basis of certain qualitative factors, that it is more-likely-than-not that the goodwill is not impaired, the entity would not need to proceed to the two step goodwill impairment testing process (quantitative analysis) as prescribed in the guidance. The Company applied the "step-zero" test to its Hubbell Power Systems ("HPS") reporting unit. Based on that qualitative assessment, the Company concluded it was more-likely-than-not that the fair value of the HPS reporting unit substantially exceeded its carrying value and therefore, further quantitative analysis was not required. For each of the Company's other reporting units the Company has elected to utilize the two step goodwill impairment testing process as permitted in the accounting guidance. Step 1 compares the fair value of the Company’s reporting units to their carrying values. If the fair value of the reporting unit exceeds its carrying value, no further analysis is necessary. If the carrying value of the reporting unit exceeds its fair value, Step 2 must be completed to determine the amount of impairment. Goodwill impairment testing requires judgment, including the identification of reporting units, assigning assets and liabilities to reporting units and determining the fair value of each reporting unit. Significant judgments required to estimate the fair value of reporting units include estimating future cash flows, determining appropriate discount rates and other assumptions. The Company uses internal discounted cash flow estimates to determine fair value. These cash flow estimates are derived from historical experience and future long-term business plans and the application of an appropriate discount rate. Changes in these estimates and assumptions could materially affect the determination of fair value and/or goodwill impairment for each reporting unit. The Company’s estimated aggregate fair value of its reporting units are reasonable when compared to the Company’s market capitalization on the valuation date. As of April 1, 2016, our impairment testing resulted in implied fair values for each reporting unit that exceeded the reporting unit’s carrying value, including goodwill. The Company did not have any reporting units at risk of failing Step 1 of the impairment test as the excess of the estimated fair value over carrying value (expressed as a percentage of carrying value) ranged from approximately 75% to approximately 315% for the respective reporting units. Additionally, the Company did not have any reporting units with zero or negative carrying amounts. The Company has not recorded any goodwill impairments since the initial adoption of the accounting guidance in 2002. The Company’s intangible assets consist primarily of customer relationships, tradenames and patents. Intangible assets with definite lives are amortized over periods generally ranging from 5-30 years. These definite lived intangibles are tested for impairment whenever events or circumstances indicate that the carrying amount of an asset (asset group) may not be recoverable. An impairment loss is recognized when the carrying amount of an asset exceeds the estimated undiscounted cash flows used in determining the fair value of the asset. The Company did not record any impairments related to its definite lived intangible assets in 2016, 2015 or 2014. The Company also has some tradenames that are considered to be indefinite-lived intangible assets. These indefinite-lived intangible assets are not amortized and are tested for impairment annually, unless circumstances dictate the need for more frequent assessment. The accounting guidance related to testing indefinite-lived intangible assets for impairment provides entities an option of performing a qualitative assessment before calculating the fair value of the asset. If the entity determines, on the basis of certain qualitative factors, that it is more-likely-than-not that the asset is not impaired, the entity would not need to calculate the fair value of the asset. The Company performed the qualitative assessment which resulted in no impairment in 2016 and 2015. The Company elected to bypass the qualitative assessment and proceeded directly to the determination of fair value of its indefinite lived intangibles which resulted in no impairment in 2014. Other Long-Lived Assets The Company reviews depreciable long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. If such a change in circumstances occurs, the related estimated future undiscounted cash flows expected to result from the use of the asset group and its eventual disposition is compared to the carrying amount. If the sum of the expected cash flows is less than the carrying amount, an impairment charge is recorded. The impairment charge is measured as the amount by which the carrying amount exceeds the fair value of the asset. The fair value of impaired assets is determined using expected cash flow estimates, quoted market prices when available and appraisals as appropriate. The Company did not record any material impairment charges in 2016, 2015 or 2014. Accrued Insurance The Company retains a significant portion of the risks associated with workers’ compensation, medical, automobile and general liability insurance. The Company estimates self-insurance liabilities using a number of factors, including historical claims experience, demographic factors, and other actuarial assumptions. The accrued liabilities associated with these programs are based on the Company’s estimate of the ultimate costs to settle known claims as well as claims incurred but not reported as of the balance sheet date. The Company periodically reviews the assumptions with a third party actuary to determine the adequacy of these self-insurance reserves. Income Taxes The Company operates within multiple taxing jurisdictions and is subject to audit in these jurisdictions. The IRS and other tax authorities routinely review the Company’s tax returns. These audits can involve complex issues which may require an extended period of time to resolve. The Company makes adequate provisions for best estimates of exposures on previously filed tax returns. Deferred income taxes are recognized for the tax consequence of differences between financial statement carrying amounts and the tax basis of assets and liabilities by applying the currently enacted statutory tax rates in accordance with the accounting guidance for income taxes. The effect of a change in statutory tax rates is recognized in the period that includes the enactment date. Additionally, deferred tax assets are required to be reduced by a valuation allowance if it is more-likely-than-not that some portion or all of the deferred tax asset will not be realized. The Company uses factors to assess the likelihood of realization of deferred tax assets such as the forecast of future taxable income and available tax planning strategies that could be implemented to realize the deferred tax assets. In addition, the accounting guidance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of the tax position taken or expected to be taken in a tax return. For any amount of benefit to be recognized, it must be determined that it is more-likely-than-not that a tax position will be sustained upon examination by taxing authorities based on the technical merits of the position. The amount of benefit to be recognized is based on the Company’s assertion of the most likely outcome resulting from an examination, including resolution of any related appeals or litigation processes. Companies are required to reflect only those tax positions that are more-likely-than-not to be sustained. See also Note 12 — Income Taxes. Research and Development Research and development expenditures represent costs to discover and/or apply new knowledge in developing a new product, process, or in bringing about a significant improvement to an existing product or process. Research and development expenses are recorded as a component of Cost of goods sold. Expenses for research and development were approximately 2% of Cost of goods sold for each of the years 2016, 2015 or 2014. Retirement Benefits The Company maintains various defined benefit pension plans for some of its U.S. and foreign employees. The accounting guidance for retirement benefits requires the Company to recognize the funded status of its defined benefit pension and postretirement plans as an asset or liability in the Consolidated Balance Sheet. Gains or losses, prior service costs or credits, and transition assets or obligations that have not yet been included in net periodic benefit cost as of the end of the year are recognized as components of Accumulated other comprehensive loss, net of tax, within Hubbell shareholders’ equity. The Company’s policy is to fund pension costs within the ranges prescribed by applicable regulations. In addition to providing defined benefit pension benefits, the Company provides health care and life insurance benefits for some of its active and retired employees. The Company’s policy is to fund these benefits through insurance premiums or as actual expenditures are made. See also Note 10 — Retirement Benefits. Earnings Per Share Restricted stock granted by the Company is considered a participating security since it contains a non-forfeitable right to dividends. As a result, the earnings per share accounting guidance requires the Company to use the two-class method for calculating earnings per share. The two-class method is an earnings allocation formula that determines earnings per share for common stock and participating securities. Basic earnings per share is calculated as net income available to common shareholders divided by the weighted average number of shares of common stock outstanding. Earnings per diluted share is calculated as net income available to common shareholders divided by the weighted average number of shares outstanding of common stock plus the incremental shares outstanding assuming the exercise of dilutive stock options, stock appreciation rights and performance shares. See also Note 17 — Earnings Per Share. Stock-Based Compensation The Company recognizes the grant-date fair value of all stock-based awards on a straight-line basis over their respective requisite service periods (generally equal to an award’s vesting period), except for certain restricted stock awards granted in 2013 with a performance condition, which are expensed using the graded vesting attribution method. A stock-based award is considered vested for expense attribution purposes when the retention of the award is no longer contingent on providing subsequent service. Accordingly, the Company recognizes compensation cost immediately for awards granted to retirement-eligible individuals or over the period from the grant date to the date retirement eligibility is achieved, if less than the stated vesting period. The expense is recorded in Cost of goods sold and S&A expense in the Consolidated Statement of Income based on the recipients’ respective functions within the organization. The Company records deferred tax assets for awards that will result in deductions on its tax returns, based upon the amount of compensation cost recognized and the statutory tax rate in the jurisdiction in which it will receive a deduction. Differences between the deferred tax assets recognized for financial reporting purposes and the actual tax deduction reported in the Company’s tax return are recorded to Additional paid-in capital to the extent that previously recognized credits to paid-in capital are still available. See also Note 16 — Stock-Based Compensation. Derivatives In order to limit financial risk in the management of its assets, liabilities and debt, the Company may use derivative financial instruments such as foreign currency hedges, interest rate hedges and interest rate swaps. All derivative financial instruments are matched with an existing Company asset, liability or proposed transaction. The Company does not speculate or use leverage when trading a derivative product. Market value gains or losses on the derivative financial instrument are recognized in income when the effects of the related price changes of the underlying asset or liability are recognized in income. See Note 13 — Fair Value Measurement for more information regarding our derivative instruments. Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board ("FASB") issued an Accounting Standards Update (ASU 2016-09) relating to the accounting for share-based payments. Upon adoption, from a statement of income viewpoint, the new guidance will require all income tax effects of share-based awards to be recognized in the income statement when the awards vest or are settled, and allows companies an additional election in the methods to estimate forfeitures of share-based payments. It also increases the amount an employer can withhold to satisfy the employer's statutory income tax withholding obligation while still qualifying for the exception to liability classification of the share-based awards. From a statement of cash flows viewpoint, the new guidance requires that excess tax benefits be classified as an operating activity and cash paid to a tax authority when shares are withheld to satisfy the employer's statutory income tax withholdings be classified as a financing activity. This update is effective for fiscal years beginning after December 15, 2016 with early adoption permitted. The Company does not believe the standard will have a material impact on its financial statements. In February 2016, the FASB issued an Accounting Standards Update (ASU 2016-02) related to the accounting for leases. This guidance will require a lessee to recognize a right-to-use asset and a lease liability for both financing and operating leases, with a policy election permitting an exception to this guidance for leases whose term is twelve months or less. For finance leases, the lessee will recognize interest expense and amortization of the right-of-use asset, and for operating leases the lessee will recognize a straight-line lease expense. This guidance is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The new standard must be adopted using a modified retrospective transition at the beginning of the earliest comparative period presented. The Company is currently assessing the impact of adopting this standard on its financial statements. In May 2014, the FASB issued an Accounting Standards Update (ASU 2014-09) related to new revenue recognition guidance that supersedes the existing revenue recognition guidance and most industry-specific guidance applicable to revenue recognition. According to the new guidance an entity will apply a principles-based five step model to recognize revenue upon the transfer of promised goods or services to customers and in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. The guidance is effective for fiscal years beginning after December 15, 2017 with earlier application permitted for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. This standard can be applied on either a retrospective or modified retrospective approach. Through the course of 2016 a number of ASU's have been issued which further refine the original guidance issued under ASU 2014-09 and are effective in conjunction with this original standard. The Company has formed a project assessment and adoption team and is currently reviewing contract terms and assessing the impact of adopting the standard on its financial statements. |
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- References No definition available.
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- Definition The entire disclosure for the general note to the financial statements for the reporting entity which may include, descriptions of the basis of presentation, business description, significant accounting policies, consolidations, reclassifications, new pronouncements not yet adopted and changes in accounting principles. No definition available.
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Business Acquisitions |
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||
Business Combinations [Abstract] | |||||||||||||||||||||||||||||||||||||||
Business Acquisitions | Business Acquisitions In the first quarter of 2016, the Company acquired all of the outstanding shares of R.W. Lyall & Company, Inc. ("Lyall"), a leader in the design and application of components and assemblies for the natural gas distribution market. Lyall was purchased for $129.1 million, net of cash received, and has been added to the Electrical segment, resulting in the recognition of intangible assets of $68.9 million and goodwill of $48.7 million. The $68.9 million of intangible assets consists primarily of customer relationships and trade names and will be amortized over a weighted average period of approximately 21 years. All of the goodwill is expected to be deductible for tax purposes. In the first quarter of 2016, the Company acquired all of the issued and outstanding shares of Electric Motion Company, Inc. and all of the membership interests in Elmot Realty Associates, LLC, Elmot Realty Associates II, LLC, and DelRi LLC, collectively referred to as "EMC". EMC is a leading manufacturer of grounding and connector products for the communications, power, and transportation industries and was purchased for $40.3 million, net of cash received, and has been added to the Power segment, resulting in the recognition of intangible assets of $16.9 million and goodwill of $18.1 million. The $16.9 million of intangible assets consists primarily of customer relationships and trade names and will be amortized over a weighted average period of approximately 19 years. None of the goodwill associated with the EMC acquisition is expected to be deductible for tax purposes. In the third quarter of 2016, the Company acquired all of the equity interests of Jiangsu Xiang Yuan Electric Equipment Co., Ltd. ("Longbow"). Longbow is a leading manufacturer of high voltage polymer insulators for the electric utility and railway industry. Longbow was purchased for approximately $14.5 million, net of $2.0 million cash received, of which $2.9 million was paid at closing, and the remaining approximately $11.6 million is to be paid in future installments. The purchase price is subject to customary post-closing adjustments. Longbow has been added to the Power segment. We have recognized intangible assets of $6.9 million and goodwill of $2.5 million as a result of this acquisition. The $6.9 million of intangible assets consists primarily of customer relationships and trade names and will be amortized over a weighted average period of approximately 11 years. None of the goodwill associated with the Longbow acquisition is expected to be deductible for tax purposes. All of these business acquisitions have been accounted for as business combinations and have resulted in the recognition of goodwill. The goodwill relates to a number of factors built into the purchase price, including the future earnings and cash flow potential of the businesses as well as the complementary strategic fit and resulting synergies they bring to the Company’s existing operations. The purchase price allocation associated with Lyall and EMC is substantially complete as of December 31, 2016. The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the date of acquisition related to all transactions (in millions):
The Consolidated Financial Statements include the results of operations of the acquired businesses from their respective dates of acquisition. Net sales and earnings related to these acquisitions for the year ended December 31, 2016 were not significant to the consolidated results. Pro forma information related to these acquisitions has not been included because the impact to the Company’s consolidated results of operations was not material. Cash used for the acquisition of businesses, net of cash acquired as reported in the Consolidated Statement of Cash Flows for the twelve months ended December 31, 2016 is $173.4 million. |
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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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Receivables and Allowances |
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Accounts, Notes, Loans and Financing Receivable, Net, Current [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Receivables and Allowances | Receivables and Allowances Receivables consist of the following components at December 31, (in millions):
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- References No definition available.
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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Inventories |
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Inventory Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inventories | Inventories Inventories are classified as follows at December 31, (in millions):
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- References No definition available.
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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Other Intangible Assets |
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Goodwill And Other Intangible Assets | Goodwill and Other Intangible Assets Changes in the carrying amounts of goodwill for the years ended December 31, 2016 and 2015, by segment, were as follows (in millions):
In 2016, the Company completed multiple acquisitions. These acquisitions have been accounted for as business combinations and have resulted in the recognition of $70.0 million of goodwill. See also Note 2 — Business Acquisitions. The Company has not recorded any material goodwill impairments since the initial adoption of the accounting guidance in 2002. Identifiable intangible assets are recorded in Intangible assets, net in the Consolidated Balance Sheet. Identifiable intangible assets are comprised of the following (in millions):
Amortization expense associated with these definite-lived intangible assets was $32.3 million, $28.2 million and $23.8 million in 2016, 2015 and 2014, respectively. Amortization expense associated with these intangible assets is expected to be $32.4 million in 2017, $31.2 million in 2018, $29.5 million in 2019, $28.2 million in 2020 and $27.3 million in 2021. |
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- References No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investments |
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Investments | Investments At December 31, 2016 and December 31, 2015, the Company held investments classified as available-for-sale and investments classified as trading securities. Investments classified as available-for-sale consisted of municipal bonds with an amortized cost basis of $53.7 million and an investment in the redeemable preferred stock of a privately-held electrical utility substation security provider with an amortized cost basis of $5.0 million. The investment in redeemable preferred stock was classified in Level 3 of the fair value hierarchy and had a fair value of $3.8 million and $4.6 million at December 31, 2016 and 2015, respectively. Investments classified as trading securities were comprised primarily of debt and equity mutual funds and are stated at fair market value based on current quotes. The following table sets forth selected data with respect to the Company’s investments at December 31, (in millions):
Contractual maturities of our investments in available-for-sale securities at December 31, 2016 were as follows (in millions):
At December 31, 2016, the total unrealized gain/(loss) recorded relating to available-for-sale securities, net of tax, was $(0.9) million and the corresponding amount at December 31, 2015 was immaterial. These net unrealized gains/(losses) are included in Accumulated other comprehensive loss, net of tax. Net unrealized gains relating to trading securities have been reflected in the results of operations. The Company uses the specific identification method when identifying the cost basis used to calculate the gain or loss on these securities. Gains and losses for both available-for-sale and trading securities were not material in 2016, 2015 and 2014. |
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- References No definition available.
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- Definition The entire disclosure for investments in certain debt and equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Property, Plant and Equipment |
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Property, Plant and Equipment | Property, Plant, and Equipment Property, plant, and equipment, carried at cost, is summarized as follows at December 31, (in millions):
Depreciable lives on buildings range between 20-45 years. Depreciable lives on machinery, tools, and equipment range between 3-15 years. The Company recorded depreciation expense of $53.4 million, $51.2 million and $49.9 million for 2016, 2015 and 2014, respectively. |
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- References No definition available.
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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Other Accrued Liabilities |
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Other Accrued Liabilities | Other Accrued Liabilities Other accrued liabilities consists of the following at December 31, (in millions):
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- Definition Disclosure of components of other noncurrent accrued liabilities excluding long term debt No definition available.
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- References No definition available.
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Other Non-Current Liabilities |
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Other Liabilities, Noncurrent [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Non-Current Liabilities | Other Non-Current Liabilities Other non-current liabilities consists of the following at December 31, (in millions):
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- Definition The entire disclosure for other liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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Retirement Benefits |
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Pension and Other Postretirement Benefit Expense [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retirement Benefits | Retirement Benefits The Company has funded and unfunded non-contributory U.S. and foreign defined benefit pension plans. Benefits under these plans are generally provided based on either years of service and final average pay or a specified dollar amount per year of service. The U.S. defined benefit pension plan has been closed to new participants since 2004, while the Canadian and UK defined benefit pension plans have been closed to new entrants since 2006 and 2007, respectively. These U.S., Canadian and UK employees are eligible instead for defined contribution plans. The Company also has a number of health care and life insurance benefit plans covering eligible employees who reached retirement age while working for the Company. These benefits have been discontinued for substantially all future retirees. The Company anticipates future cost-sharing charges for its discontinued plans that are consistent with past practices.The Company uses a December 31 measurement date for all of its plans. In December 2016, the Company approved amendments to the domestic qualified defined benefit pension plan and non-qualified defined benefit plan, which will freeze service accruals for active participants effective February 28, 2017 and further will freeze compensation accruals effective December 31, 2020. The Company also froze all accruals in a second non-qualified defined benefit plan effective December 31, 2016. As a result of these amendments, the Company has recognized a $34.1 million curtailment gain in Accumulated other comprehensive income as of December 31, 2016 and also recognized $0.2 million of pension expense in 2016 associated with previously unrecognized prior service costs. In addition, effective January 1, 2017, the amortization of actuarial gains and losses of these plans will be recognized over the remaining life expectancy of participants, as all participants are considered inactive as a result of the amendment. In 2016, we also completed a transaction with a third-party insurer to settle approximately $40 million of projected benefit obligation of our domestic qualified defined benefit pension plans. In 2015, we amended our domestic qualified defined benefit pension plans to offer a voluntary lump sum pension payout program to certain eligible terminated vested participants that would settle our obligation to those participants accepting the offer. As part of this voluntary lump sum program, in 2015 the Company made approximately $27.7 million of payments to participants, settling its pension obligation by approximately the same amount. There were no other amendments made in 2016 or 2015 to the defined benefit pension plans which had a significant impact on the total pension benefit obligation. The Company's U.S. defined benefit pension plans were approximately 87% of the $917.4 million total pension benefit obligations at December 31, 2016. The following table sets forth the reconciliation of beginning and ending balances of the benefit obligations and the plan assets for the Company’s defined benefit pension and other benefit plans at December 31, (in millions):
The accumulated benefit obligation for all defined benefit pension plans was $876.2 million and $842.1 million at December 31, 2016 and 2015, respectively. Information with respect to plans with accumulated benefit obligations in excess of plan assets is as follows, (in millions):
The following table sets forth the components of pension and other benefit costs for the years ended December 31, (in millions):
The Company also maintains six defined contribution pension plans. The total cost of these plans was $15.6 million in 2016, $13.3 million in 2015 and $12.9 million in 2014, excluding the employer match for the 401(k) plan. This cost is not included in the above net periodic benefit cost for the defined benefit pension plans. The Company participated in two multi-employer defined benefit pension plans under the terms of collective-bargaining agreements that cover its union represented employees at December 31, 2016 and 2015, respectively. The Company’s total contributions to these plans were $0.5 million in 2016, and $0.8 million in 2015 and 2014. These contributions represent more than five percent of the total contributions made to one of these plans in 2016 and 2015 and two of these plans in 2014. As of December 31, 2016 one of the two multi-employer defined benefit pension plans in which the Company participates is considered to be less than 65 percent funded. The risks of participating in these multi-employer plans are different from single-employer plans in that assets contributed are pooled and may be used to provide benefits to employees of other participating employers. If a participating employer stops contributing to the plan, the unfunded obligations of the plan may have to be assumed by the remaining participant employers. If we choose to stop participating in these multi-employer plans we may be required to pay those plans a withdrawal liability based on the unfunded status of the plan. In the fourth quarter of 2016, the Company recorded a charge of $12.5 million in Cost of goods sold based on an assessment it is probable the Company will withdraw from one of the plans in 2017. Although the Company has received no indication that its expectations regarding its estimated withdrawal liability is not accurate, depending on actions of third parties, including bankruptcy or withdrawals from the multi-employer plan, under terms customary to multi-employer plans, it is possible that the Company could in the future be subject to certain additional liabilities associated with its participation and withdraw from the multi-employer pension plan, which the Company estimates could be up to an additional $28 million. Assumptions The following assumptions were used to determine the projected benefit obligations at the measurement date and the net periodic benefit cost for the year:
At the end of each year, the Company determines the appropriate expected return on assets for each plan based upon its strategic asset allocation (see discussion below). In making this determination, the Company utilizes expected returns for each asset class based upon current market conditions and expected risk premiums for each asset class. The Company also determines the discount rate to be used to calculate the present value of pension plan liabilities at the end of each year. The discount rate for the Company’s U.S. and Canadian pension plans is determined by matching the expected cash flows associated with its benefit obligations to a yield curve based on high quality, fixed income debt instruments with maturities that closely match the expected funding period of its pension liabilities. This yield curve is derived using a bond matching approach which incorporates a selection of bonds that align with the Company’s projected benefit obligations. As of December 31, 2016, the Company used a discount rate of 4.3% for its U.S. pension plans compared to a discount rate of 4.8% used in 2015. For its Canadian pension plan, the Company used a discount rate of 3.85% as of December 31, 2016 compared to the 3.90% discount rate used in 2015. For its UK pension plan the discount rate was derived using a yield curve fitted to the yields on AA bonds in the Barclays Capital Sterling Aggregate Corporate Index and uses sample plan cash flow data as a proxy to plan specific liability cash flows. The derived discount rate is the single discount rate equivalent to discounting these liability cash flows at the term-dependent spot rate of AA corporate bonds. This methodology resulted in a December 31, 2016 discount rate for the UK pension plan of 2.7% as compared to a discount rate of 4.0% used in 2015. In 2014 we changed the mortality table used to calculate the present value of our pension plan liabilities from the RP-2000 mortality table to the RP-2000 mortality table with generational projection using Scale BB-2D. That change resulted in an approximately $40 million increase in the projected benefit obligation of our U.S. defined benefit pension plans upon remeasurement at December 31, 2014. The same mortality assumption was used to calculate the present value of pension plan liabilities as of December 31, 2015 and 2016. The RP-2000 mortality table with generational projection using Scale BB-2D was chosen as the best estimate based on the observed and anticipated experience of the plans after considering alternative tables, including RP-2014 and generational projection using Scale MP-2016. The rate of compensation increase assumption reflects the Company’s actual experience and best estimate of future increases. The assumed health care cost trend rates used to determine the projected postretirement benefit obligation are as follows:
Assumed health care cost trend rates have an effect on the amounts reported for the postretirement benefit plans. A one-percentage-point change in assumed health care cost trend rates would have the following effects (in millions):
Plan Assets The Company’s combined targeted 2015 weighted average asset allocation for domestic and foreign pension plans and the actual weighted average asset allocation for domestic and foreign pension plans at December 31, 2016 and 2015 by asset category are as follows:
At the end of each year, the Company estimates the expected long-term rate of return on pension plan assets based on the strategic asset allocation for its plans. In making this determination, the Company utilizes expected rates of return for each asset class based upon current market conditions and expected risk premiums for each asset class. The Company has written investment policies and asset allocation guidelines for its domestic and foreign pension plans. In establishing these policies, the Company has considered that its various pension plans are a major retirement vehicle for most plan participants and has acted to discharge its fiduciary responsibilities with regard to the plans solely in the interest of such participants and their beneficiaries. The goal underlying the establishment of the investment policies is to provide that pension assets shall be invested in a prudent manner and so that, together with the expected contributions to the plans, the funds will be sufficient to meet the obligations of the plans as they become due. To achieve this result, the Company conducts a periodic strategic asset allocation study to form a basis for the allocation of pension assets between various asset categories. Specific policy benchmark percentages are assigned to each asset category with minimum and maximum ranges established for each. The assets are then tactically managed within these ranges. Equity securities include investments in large-cap, mid-cap and small-cap companies located inside and outside the United States. Fixed income securities include corporate bonds of companies from diversified industries, mortgage-backed securities and US Treasuries. Derivative investments include futures contracts used by the plan to adjust the level of its investments within an asset allocation category. The actual and target percentages reported in the preceding table reflect the economic exposure to each asset category, including the impact of derivative positions. All futures contracts are 100% supported by cash or cash equivalent investments. At no time may derivatives be utilized to leverage the asset portfolio. Equity securities include Company common stock in the amounts of $40.0 million (6.6% of total domestic plan assets) and $34.7 million (5.3% of total domestic plan assets) at December 31, 2016 and 2015, respectively. The Company’s other post-employment benefits are unfunded; therefore, no asset information is reported. The fair value of the Company’s pension plan assets at December 31, 2016 and 2015, by asset category are as follows (in millions):
Investments Priced Using Net Asset Value ("NAV") within Alternative Investment Funds in the preceding tables consist of fund of fund products. These products invest in a number of investment funds managed by a diversified group of third-party investment managers who employ a variety of alternative investment strategies, including relative value, security selection, distressed value, global macro, specialized credit and directional strategies. The objective of these funds is to achieve the desired capital appreciation with lower volatility than either traditional equity or fixed income securities. Contributions Although not required under the Pension Protection Act of 2006, the Company made approximately $16 million of voluntary contributions to its qualified defined benefit pension plans in December 2016. The Company expects to contribute approximately $1.7 million to its foreign plans in 2017. Estimated Future Benefit Payments The following domestic and foreign benefit payments, which reflect future service, as appropriate, are expected to be paid as follows, (in millions):
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- References No definition available.
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- Definition The entire disclosure for pension and other postretirement benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt |
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt | Debt The following table sets forth the Company’s long-term debt at December 31, (in millions):
In March 2016, the Company completed a public debt offering of $400 million of long-term unsecured, unsubordinated notes maturing in March 2026 and bearing interest at a fixed rate of 3.35% (the "2026 Notes"). Net proceeds from the issuance were $393.4 million after deducting the discount on the notes and offering expenses paid by the Company. In November 2010, the Company completed a public debt offering for $300 million of long-term unsecured, unsubordinated notes maturing in November 2022 (“2022 Notes”) and bearing interest at a fixed rate of 3.625%. Prior to the issuance of the 2022 Notes, the Company entered into a forward interest rate lock which resulted in a $1.6 million loss. This amount was recorded in Accumulated other comprehensive loss, net of tax, and is being amortized over the life of the 2022 Notes. In May 2008, the Company completed a public offering for $300 million of long-term senior unsecured, unsubordinated notes maturing in May 2018 (the “2018 Notes”). The 2018 Notes bear interest at a fixed rate of 5.95%. Prior to the issuance of the 2018 Notes, the Company entered into a forward interest rate lock which resulted in a $1.2 million gain. This amount was recorded in Accumulated other comprehensive loss, net of tax, and is being amortized over the life of the notes. The 2018 Notes, 2022 Notes and 2026 Notes are all fixed rate indebtedness, are callable at any time with a make whole premium and are only subject to accelerated payment prior to maturity in the event of a default (including as a result of the Company's failure to meet certain non-financial covenants) under the indenture governing the notes, as modified by the supplemental indentures creating such notes, or upon a change in control event as defined in such indenture. The Company was in compliance with all non-financial covenants as of December 31, 2016. At December 31, 2016 and 2015, the Company had $3.2 million and $48.2 million, respectively, of short-term debt outstanding. There were no commercial paper borrowings outstanding at December 31, 2016. Short-term debt at December 31, 2015 includes $48.0 million of commercial paper borrowings to partially fund the Class A Cash Consideration paid on December 23, 2015 in connection with the Reclassification. Refer to Note 15 — Capital Stock, for more information about the Reclassification. Short-term debt at December 31, 2016 and 2015 also includes $3.2 million and $0.2 million, respectively of other borrowings to support our international operations in China and Brazil. Other information related to short-term debt at December 31, is summarized below:
On December 16, 2015 the Company entered into a five-year revolving credit agreement (the "Credit Agreement") with a syndicate of lenders that provides a $750 million committed revolving credit facility. The revolving credit facility serves as a backup to the Company's commercial paper program. Commitments under the Credit Agreement may be increased to an aggregate amount not the exceed $1.250 billion. The interest rate applicable to borrowing under the Credit Agreement is generally either the adjusted LIBOR plus an applicable margin (determined by reference to a ratings based grid) or the alternative base rate. The single financial covenant in the Credit Agreement, which the Company is in compliance with, requires that total debt not exceed 55% of total capitalization as of the last day of each fiscal quarter of the Company. Annual commitment fees to support availability under the credit facility are not material. As of December 31, 2016 the revolving credit facility has not been drawn against. The Company also maintains other lines of credit that are primarily used to support the issuance of letters of credit. Interest rates and other terms of borrowing under these lines of credit vary from country to country, depending on local market conditions. At December 31, 2016 and 2015 these lines totaled $51.4 million and $54.6 million, respectively, of which $21.0 million and $22.5 million was utilized to support letters of credit and the remaining amount was unused. The annual commitment fees associated with these lines of credit are not material. Interest and fees paid related to total indebtedness was $37.1 million, $29.5 million and $29.4 million in 2016, 2015 and 2014, respectively. |
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- References No definition available.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes |
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Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Taxes | Income Taxes The following table sets forth selected data with respect to the Company’s income tax provisions for the years ended December 31, (in millions):
Deferred tax assets and liabilities result from differences in the basis of assets and liabilities for tax and financial statement purposes. The components of the deferred tax assets/(liabilities) at December 31, were as follows (in millions):
As of December 31, 2016, the Company had a total of $30.9 million of Federal, State (net of Federal benefit) and foreign tax credit carryforwards, available to offset future income taxes. As of December 31, 2016, $11.7 million of the tax credits may be carried forward indefinitely while the remaining $19.2 million will begin to expire at various times in 2017 through 2037. As of December 31, 2016, the Company had recorded tax benefits totaling $27.2 million for Federal, State and foreign net operating loss carryforwards (“NOLs”). As of December 31, 2016, $8.6 million of NOLs may be carried forward indefinitely while the remaining $18.6 million will begin to expire at various times in 2021 through 2030. The tax benefit related to a portion of these NOLs has been adjusted to reflect an “ownership change” pursuant to Internal Revenue Code Section 382, which imposes an annual limitation on the utilization of pre-acquisition operating losses. The Company has recorded a net valuation allowance of $22.6 million for the portion of the foreign tax and state tax credit carryforwards and foreign NOLs that the Company anticipates will expire prior to utilization. At December 31, 2016, income and withholding taxes have not been provided on approximately $890 million of undistributed international earnings that are permanently reinvested in international operations. If such earnings were not indefinitely reinvested, a tax liability of approximately $200 million would be recognized. Cash payments of income taxes were $117.4 million, $139.1 million and $125.4 million in 2016, 2015, and 2014, respectively. The Company operates within multiple taxing jurisdictions and is subject to audit in these jurisdictions. The IRS and other tax authorities routinely audit the Company’s tax returns. These audits can involve complex issues which may require an extended period of time to resolve. During 2015 the IRS commenced an examination of the Company’s 2013 and 2014 Federal income tax returns. The Company expects this examination to be completed within the next 12 months. With few exceptions, the Company is no longer subject to state, local, or non-U.S. income tax examinations by tax authorities for years prior to 2009. The following tax years, by major jurisdiction, are still subject to examination by taxing authorities:
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):
Included in the balance at December 31, 2016 are $16.0 million of tax positions which, if in the future are determined to be recognizable, would affect the annual effective income tax rate. Additionally, there are $1.2 million of tax positions for which the ultimate deductibility is highly certain but for which there is uncertainty as to the timing of such deductibility. Because of the impact of deferred tax accounting, other than interest and penalties, the disallowance of the shorter deductibility period would not affect the annual effective tax rate but would accelerate the payment of cash to the applicable taxing authority to an earlier period. It is reasonably possible that in the next twelve months, because of changes in facts and circumstances, the unrecognized tax benefits may increase or decrease. The Company estimates a possible decrease of $3.0 to $5.0 million within the next twelve months due to the expiration of the statute of limitations and the completion of certain tax audits on various unrecognized tax positions. The Company’s policy is to record interest and penalties associated with the underpayment of income taxes within Provision for income taxes in the Consolidated Statement of Income. The Company recognized expense, before federal tax impact, related to interest and penalties of approximately $0.7 million in 2016, $1.2 million in 2015 and $1.7 million 2014. The Company had $4.8 million and $4.1 million accrued for the payment of interest and penalties as of December 31, 2016 and December 31, 2015, respectively. The consolidated effective income tax rate varied from the United States federal statutory income tax rate for the years ended December 31, as follows:
The foreign income tax benefit shown is primarily due to lower statutory rates in foreign jurisdictions compared to the Federal statutory rate. |
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- References No definition available.
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- Definition The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Financial Instruments and Fair Value Measurement |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurement | Fair Value Measurement Financial Instruments Concentrations of Credit Risk: Financial instruments which potentially subject the Company to significant concentrations of credit risk consist of trade receivables, cash equivalents and investments. The Company grants credit terms in the normal course of business to its customers. Due to the diversity of its product lines, the Company has an extensive customer base including electrical distributors and wholesalers, electric utilities, equipment manufacturers, electrical contractors, telecommunication companies and retail and hardware outlets. No single customer accounted for more than 10% of total sales in any year during the three years ended December 31, 2016. However, the Company’s top ten customers account for approximately one-third of its net sales. As part of its ongoing procedures, the Company monitors the credit worthiness of its customers. Bad debt write-offs have historically been minimal. The Company places its cash and cash equivalents with financial institutions and limits the amount of exposure in any one institution. Fair Value: The carrying amounts reported in the Consolidated Balance Sheet for cash and cash equivalents, short-term investments, receivables, bank borrowings, accounts payable and accruals approximate their fair values given the immediate or short-term nature of these items. See also Note 6 — Investments. Fair value measurements At December 31, 2016 and 2015 the Company had $67.6 million and $61.7 million respectively, of investments carried on the balance sheet at fair value. Fair value is defined as the amount that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The FASB fair value measurement guidance established a fair value hierarchy that prioritizes the inputs used to measure fair value. Refer to Note 6 — Investments for more information about these investments. The three broad levels of the fair value hierarchy are as follows:
The following tables show, by level within the fair value hierarchy, the Company’s financial assets and liabilities that are accounted for at fair value on a recurring basis at December 31, 2016 and 2015 (in millions):
The methods and assumptions used to estimate the Level 2 fair values were as follows: Forward exchange contracts – The fair value of forward exchange contracts were based on quoted forward foreign exchange prices at the reporting date. Municipal bonds – The fair value of available-for-sale investments in municipal bonds is based on observable market-based inputs, other than quoted prices in active markets for identical assets. Available-for-sale redeemable preferred stock classified in Level 3 – The fair value of the available-for-sale investment in redeemable preferred stock is valued based on a discounted cash flow model, using significant unobservable inputs, including assumptions regarding expected cash flows and discount rates. During 2016 and 2015, there were no transfers of financial assets or liabilities in or out of Level 1 or Level 2 of the fair value hierarchy. As of December 31, 2016 and 2015, the Company had one financial asset that was classified in Level 3 of the fair value hierarchy. Deferred compensation plan The Company offers certain employees the opportunity to participate in non-qualified deferred compensation plans. A participant’s deferrals are invested in a variety of participant-directed debt and equity mutual funds that are classified as trading securities. During 2016 and 2015, the Company purchased $1.4 million and $1.0 million, respectively, of trading securities related to these deferred compensation plans. As a result of participant distributions, the Company sold $1.6 million and $0.3 million of these trading securities in 2016 and 2015 respectively. The unrealized gains and losses associated with these trading securities are directly offset by the changes in the fair value of the underlying deferred compensation plan obligation. Derivatives In order to limit financial risk in the management of its assets, liabilities and debt, the Company may use derivative financial instruments such as foreign currency hedges, commodity hedges, interest rate hedges and interest rate swaps. All derivative financial instruments are matched with an existing Company asset, liability or proposed transaction. Market value gains or losses on the derivative financial instrument are recognized in income when the effects of the related price changes of the underlying asset or liability are recognized in income. Forward exchange contracts In 2016 and 2015, the Company entered into a series of forward exchange contracts to purchase U.S. dollars in order to hedge its exposure to fluctuating rates of exchange on anticipated inventory purchases and forecasted sales by its subsidiaries who transact business in Canadian dollars. As of December 31, 2016, the Company had 51 individual forward exchange contracts for notional amounts which range from $0.4 million to $1.2 million each, which have various expiration dates through December 2017. These contracts have been designated as cash flow hedges in accordance with the accounting guidance for derivatives. The following table summarizes the results of cash flow hedging relationships for years ended December 31, (in millions):
There was no material hedge ineffectiveness with respect to the forward exchange cash flow hedges during 2016, 2015 and 2014. Long-term Debt The total carrying value of long-term debt as of December 31, 2016 and 2015 was $990.5 million and $595.9 million, respectively, net of unamortized discount and debt issuance costs. As of December 31, 2016 and 2015, the estimated fair value of the long-term debt was $1,017.8 million and $630.5 million, respectively, based on quoted market prices. The Company’s long-term debt falls within level 2 of the fair value hierarchy. |
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- References No definition available.
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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies |
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Commitments and Contingencies Disclosure [Abstract] | |||||||
Commitments and Contingencies | Commitments and Contingencies Legal and Environmental The Company is subject to various legal proceedings arising in the normal course of its business. These proceedings include claims for damages arising out of use of the Company’s products, intellectual property, workers’ compensation and environmental matters. The Company is self-insured up to specified limits for certain types of claims, including product liability and workers’ compensation, and is fully self-insured for certain other types of claims, including environmental and intellectual property matters. The Company recognizes a liability for any contingency that in management’s judgment is probable of occurrence and can be reasonably estimated. We continually reassess the likelihood of adverse judgments and outcomes in these matters, as well as estimated ranges of possible losses based upon an analysis of each matter which includes consideration of outside legal counsel and, if applicable, other experts. On October 16, 2015, Norfolk County Retirement System, a purported former holder of the Company’s Class B common stock, filed a complaint in the United States District Court for the District of Connecticut challenging the Reclassification of the Company’s dual-class common stock into a single class of common stock (the "Reclassification"). The complaint was captioned Norfolk County Retirement System v. Cardoso, et al., No. 3:15-cv-01507-AWT. The plaintiff asserted claims against the Company’s Board of Directors, Bessemer Trust Co., N.A. (“Bessemer”), as Trustee for the Trusts, and the Company (collectively, "Defendants"). The plaintiff claimed, among other things, that the Company and its Board of Directors had violated the Company’s certificate of incorporation by agreeing to make a payment to the holders of Class A common stock in connection with the Reclassification, and that the Board of Directors had violated its fiduciary duties by structuring the Reclassification in a supposedly coercive way and by allegedly making materially misleading disclosures to shareholders. The plaintiff also claimed, among other things, that Bessemer had aided and abetted the Board of Directors' purported violation of the certificate of incorporation and breach of fiduciary duties. As relief, the plaintiff demanded an injunction against the shareholder vote on the Reclassification, damages, an award of costs and attorneys’ fees, and other relief. At the same time as filing its complaint, the plaintiff sent a derivative demand letter to the Board of Directors, making similar allegations of wrongdoing, and demanding, among other things, that the Company file suit against the Board and Bessemer to recover damages supposedly sustained by the Company. On February 1, 2016, the plaintiff filed an amended direct and derivative complaint. The amended complaint contained allegations and claims for relief that were generally similar to the plaintiff’s previous complaint, but also asserted that the plaintiff had the right to sue derivatively on behalf of the Company to recoup damages supposedly sustained by the Company in connection with the Reclassification and included derivative claims. Thereafter, the plaintiff and Defendants engaged in arm's-length settlement discussions. On June 21, 2016, the plaintiff and Defendants entered into a Stipulation of Settlement (the "Stipulation"), which provided for the complete settlement, release and dismissal of all claims alleged. Under the Stipulation, among other things, (a) for a period of 150 days from and after the date upon which the settlement became final, Bessemer has agreed it will refrain from engaging in any sales of the Company's common stock unless it determines, in its sole discretion, that the failure to sell the Company's common stock will constitute a breach of its fiduciary duties to the Trusts and their beneficiaries and (b) for a period of 365 days from and after the date upon which the Stipulation was executed, the Company has agreed that it will refrain from knowingly repurchasing any shares of common stock of the Company from Bessemer in a block trade, in a privately negotiated transaction between the Company and Bessemer or through a stock repurchase program similar in structure to the Company's previous stock repurchase program authorized by the Company's Board of Directors. On November 22, 2016, following a hearing, the Court approved the settlement and dismissed the action without prejudice. The settlement became final on December 23, 2016. The Company is subject to environmental laws and regulations which may require that it investigate and remediate the effects of potential contamination associated with past and present operations as well as those acquired through business combinations. Environmental liabilities are recorded when remedial efforts are probable and the costs can be reasonably estimated. The Company continues to monitor these environmental matters and revalues its liabilities as necessary. Total environmental liabilities were $5.2 million and $14.2 million as of December 31, 2016 and 2015, respectively. The Company accounts for conditional asset retirement and environmental obligations in accordance with the applicable accounting guidance. The accounting guidance defines “conditional asset retirement obligation” as a legal obligation to perform an asset retirement activity in which the timing and/or method of settlement are conditional on a future event that may or may not be within the control of the Company. Accordingly, an entity is required to recognize a liability for the fair value of a conditional asset retirement obligation if the fair value of the liability can be reasonably estimated. Asset retirement obligations were not material as of December 31, 2016 and 2015. Leases Total rental expense under operating leases was in $28.8 million 2016, $25.7 million in 2015 and $24.7 million in 2014. The minimum annual rentals on non-cancelable, long-term, operating leases in effect at December 31, 2016 are expected to approximate $18.7 million in 2017, $16.7 million in 2018, $13.0 million in 2019, $9.3 million in 2020, $7.0 million in 2021 and $23.1 million thereafter. The Company’s leases primarily consist of operating leases for buildings or equipment. The terms for building leases typically range from month-to-month to up to 12 years, with various renewal periods depending on the terms. |
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- References No definition available.
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- Definition The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Capital Stock |
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Stockholders' Equity Note [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Capital Stock | Capital Stock Activity in the Company’s common shares outstanding is set forth below for the three years ended December 31, 2016 (in thousands):
On December 23, 2015, the Company completed the reclassification of its dual-class common stock into a single class of Common Stock (the “Reclassification”). The Reclassification, among other benefits, simplified the Company's capital structure, better aligned voting rights with economic interests of all shareholders, and has eliminated the ability of the Louie E. Roche Trust and the Harvey Hubbell Trust (collectively, the “Trusts”), which, prior to the Reclassification, collectively owned 3,488,460 shares of the Company’s Class A common stock, par value $0.01 per share (the “Class A common stock”), representing approximately 49% of Class A common stock then outstanding, and approximately 36% of the total voting power of the Company's shareholders, to effectively prevent the approval of any matter that comes before the shareholders that requires, under Connecticut law, the approval of holders of two-thirds of the Company's outstanding common stock. Following the filing of the Amended and Restated Certificate of Incorporation of the Company with the Secretary of the State of the State of Connecticut, the Reclassification became effective at 11:59 p.m. on December 23, 2015 (the “Effective Time”), at which time (i) each holder of Class A common stock as of immediately prior to the Effective Time became entitled to receive cash in the amount of $28.00 for each share of Class A common stock held ("Class A Cash Consideration") and (ii) each share of Class A common stock issued and outstanding immediately prior to the Effective Time and each share of Class B common stock of the Company, par value $0.01 per share (the “Class B common stock”), issued and outstanding immediately prior to the Effective Time was reclassified into one share of common stock of the Company, par value $0.01 per share and having one vote per share upon all matters brought before any meeting of the shareholders (the “Common Stock”). Trading in the Class A Common Stock and Class B Common Stock ceased after markets closed on December 23, 2015 and trading in the Company's single class of Common Stock commenced on the NYSE on December 24, 2015, under the ticker “HUBB.” Prior to the Reclassification, shares of Class A common stock had twenty votes per share, while shares of Class B common shares had one vote per share. Following the Reclassification, shares of the Company's Common Stock have one vote per share. The Company accounted for the Reclassification by adjusting the Company’s capital stock accounts. The par value of the Class A common stock and the Class B common stock was reclassified to Common Stock par value. Paid-in capital of the Class A Common Stock was zero at the time of the Reclassification and, therefore, the full amount of the Class A Cash Consideration paid in the Reclassification was applied as a reduction to Retained earnings for the fiscal year ended December 31, 2015. For accounting purposes, the Company treats repurchased shares as constructively retired when acquired and accordingly charges the purchase price against Common Stock par value, Additional paid-in capital and Retained earnings to the extent required. Shares may be repurchased through the Company’s stock repurchase program, acquired by the Company from employees under the Hubbell Incorporated Stock Option Plan for Key Employees (the “Option Plan”) or surrendered to the Company by employees in settlement of their minimum tax liability on vesting of restricted shares and performance shares under the Hubbell Incorporated 2005 Incentive Award Plan as amended and restated, (the “Award Plan”). In connection with the completion of the Reclassification, the Company entered into a Second Amended and Restated Rights Agreement, dated December 23, 2015 (the "Rights Agreement"), between the Company and Computershare Inc. (successor to Mellon Investor Services, L.L.C.), as rights agent, under which holders of Common Stock had a preferred share purchase right for each share of Common Stock (the “Rights”). The Rights expired at the close of business on December 17, 2016 and the Rights Agreement is no longer in effect. Shares of the Company’s common stock were reserved at December 31, 2016 as follows (in thousands):
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- References No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Stock-Based Compensation |
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Stock-Based Compensation | Stock-Based Compensation As of December 31, 2016, the Company had various stock-based awards outstanding which were issued to executives and other key employees. The Company recognizes the grant-date fair value of all stock-based awards to employees over their respective requisite service periods (generally equal to an award’s vesting period), net of estimated forfeitures. A stock-based award is considered vested for expense attribution purposes when the employee’s retention of the award is no longer contingent on providing subsequent service. Accordingly, the Company generally recognizes compensation cost immediately for awards granted to retirement-eligible individuals or over the period from the grant date to the date retirement eligibility is achieved, if less than the stated vesting period. The Company’s long-term incentive program for awarding stock-based compensation uses a combination of restricted stock, stock appreciation rights (“SARs”), and performance shares of the Company’s Common Stock pursuant to the Award Plan. The Award Plan was amended and restated during 2015 to add an additional 2.8 million shares. Under the Award Plan, the Company may authorize up to 9.7 million shares of Common Stock in settlement of restricted stock, performance shares, SARs or any-post 2004 grants of stock options. The Company issues new shares for settlement of any stock-based awards. In 2016, the Company granted stock-based awards using a combination of restricted stock, SARs and performance shares. On December 23, 2015, the Company completed the reclassification of its dual-class common stock into a single class of Common Stock (the “Reclassification”), as more fully described in Note 15 — Capital Stock. At the effective time of the Reclassification, each outstanding stock-based award granted under the Award Plan was adjusted by substituting, on a one for one basis, shares of Common Stock for shares the of Class B Common Stock granted under the Award Plan. In 2016, 2015 and 2014, the Company recorded $22.3 million, $17.0 million and $16.4 million of stock-based compensation costs, respectively. The total income tax benefit/(expense) recognized in 2016 was $8.2 million, $6.2 million during 2015, and $7.8 million during 2014. The net tax windfall recorded as a result of exercise or vesting (depending on the type of award) was $3.7 million, $0.9 million, and $9.2 million for the years ended December 31, 2016, 2015 and 2014, respectively. As of December 31, 2016, there was $29.3 million, pretax, of total unrecognized compensation cost related to non-vested share-based compensation arrangements. This cost is expected to be recognized through 2019. Stock-based compensation expense is recorded in S&A expense as well as Cost of goods sold. Of the total 2016 expense, $21.6 million was recorded to S&A expense and $0.7 million was recorded to Cost of goods sold. In 2015 and 2014, $16.2 million and $15.7 million, respectively, was recorded to S&A expense and $0.8 million in 2015 and $0.7 million in 2014, was recorded to Cost of goods sold. Stock-based compensation costs capitalized to inventory was $0.2 million in 2016, 2015 and 2014. Each of the compensation arrangements is discussed below. Restricted Stock The Company issues several types of restricted stock awards all of which are considered outstanding at the time of grant, as the award holders are entitled to dividends and voting rights. Unvested restricted stock awards are considered participating securities in computing earnings per share. Restricted stock granted is not transferable and is subject to forfeiture in the event of the recipient’s termination of employment prior to vesting. Restricted Stock Issued to Employees - Service Condition Service-based restricted stock awards are expensed on a straight-line basis over the requisite service period. The restricted stock vests in one-third increments annually for three years on each anniversary of the date of grant. The restricted stock fair values are measured using the average of the high and low trading prices of the Company’s common stock on the most recent trading day immediately preceding the grant date (“measurement date”). Restricted Stock Issued to Employees - Market Condition Certain restricted stock awards issued in 2014, 2015 and 2016 will vest subject to the achievement of a market-based condition. The awards are expensed on a straight-line basis over the requisite service period which starts on the date of the grant and ends upon the completion of the performance period. Expense is recognized irrespective of the market condition being achieved. The market-based condition is the Company’s total shareholder return (“TSR”) compared to the TSR generated by the companies that comprise the S&P Capital Goods 900 Index and is measured over a three year performance period beginning on January 1st of the first year and ending on December 31st of the third year. The awards will vest contingent upon achievement of the market condition, service through the requisite service period or the retirement-eligibility date. If the market-based condition is achieved, the awards will vest at 100% of the restricted stock awards granted. If the market-based condition is not achieved the awards will not vest. The fair value of these awards was determined based upon a lattice model. The following table summarizes the assumptions used in estimating the fair value of these awards:
Restricted stock Issued to Employees - Performance Condition Certain restricted stock issued in 2013 will vest subject to the achievement of an annual performance-based condition. The awards vest in one-third increments for each of the years ending December 31, 2014, 2015 and 2016, contingent upon meeting the annual performance condition. These awards are expensed on a graded basis over the requisite service period. The probability of vesting is reassessed each reporting period and compensation cost is adjusted accordingly. The fair value of the award is measured based upon the average of the high and low trading prices of the Company’s common stock on the measurement date. The performance condition for the year ending December 31, 2016 was met and 8,457 shares vested and were approved by the Compensation Committee in February 2017. The fair value of the shares at vesting was $0.9 million. Restricted Stock Issued to Non-employee Directors In 2016, 2015 and 2014, each non-employee director received a restricted stock grant. These grants were made on the date of the annual meeting of shareholders and vested or will vest at the following year’s annual meeting of shareholders, upon a change of control or termination of service by reason of death. These shares will be subject to forfeiture if the director’s service terminates prior to the date of the next regularly scheduled annual meeting of shareholders to be held in the following calendar year. During the years 2016, 2015 and 2014, the Company issued to non-employee directors 9,128 shares, 8,008 shares, and 10,329 shares, respectively. Activity related to both employee and non-employee restricted stock for the year ended December 31, 2016 is as follows (in thousands, except per share amounts):
The weighted average fair value per share of restricted stock granted during the years 2016, 2015 and 2014 was $109.95, $96.26 and $105.35, respectively. The total fair value of restricted stock vested during the years 2016, 2015 and 2014 was $6.4 million, $7.7 million and $7.0 million, respectively. Stock Appreciation Rights SARs granted entitle the recipient to the difference between the fair market value of the Company’s Common Stock on the date of exercise and the grant price as determined using the average of the high and the low trading prices of the Company’s common stock on the measurement date. This amount is payable in shares of the Company’s Common Stock. SARs vest and become exercisable in three equal installments during the first three years following their grant date and expire ten years from the grant date. Activity related to SARs for the year ended December 31, 2016 is as follows (in thousands, except per share amounts):
The aggregated intrinsic value of SARs exercised during 2016, 2015 and 2014 was $13.8 million, $4.8 million and $19.4 million, respectively. The fair value of each SAR award was measured using the Black-Scholes option pricing model. The following table summarizes the weighted-average assumptions used in estimating the fair value of the SARs granted during the years 2016, 2015 and 2014:
The expected dividend yield was calculated by dividing the Company’s expected annual dividend by the average stock price for the past three months. Expected volatilities are based on historical volatilities of the Company’s stock for a period consistent with the expected term. The expected term of SARs granted was based upon historical exercise behavior of stock options and SARs. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for the expected term of the award. Performance Shares Performance shares represent the right to receive a share of the Company’s Common Stock after a three year period subject to the achievement of certain market or performance conditions established by the Company’s Compensation Committee. Partial vesting in these awards may occur after separation from the Company for retirement eligible employees. Shares are not vested until approved by the Company’s Compensation Committee. Performance Shares - Market Condition In December 2016, 2015 and 2014, the Company granted 29,012, 32,687 and 28,871, respectively, of performance shares that will vest subject to a market condition and service through the performance period. The market condition associated with the awards is the Company's TSR compared to the TSR generated by the companies of a reference index over a three year performance period. Performance at target will result in vesting and issuance of the number of performance shares granted, equal to 100% payout. Performance below or above target can result in issuance in the range of 0%-200% of the number of shares granted. Expense is recognized irrespective of the market condition being achieved. In February 2017, the Company paid out 17,260 shares related to the December 2013 performance award grant. The performance period associated with this award was from January 1, 2014 through December 31, 2016 and was based upon the Company’s TSR compared to the TSR generated by the other companies that comprise the S&P Mid-Cap 400 Index. The number of shares vested in February 2017 was based upon achieving 64% of the market-based criteria and the fair value of the awards at vesting was $2.2 million. The fair value of the performance share awards with a market condition for the fiscal years 2016, 2015 and 2014 was determined based upon a lattice model. The following table summarizes the related assumptions used to determine the fair values of the performance share awards with a market condition granted during the years 2016, 2015 and 2014:
Expected volatilities are based on historical volatilities of the Company’s stock over a three year period. The risk free interest rate is based on the U.S. Treasury yield curve in effect at the time of the grant for the expected term of the award. Performance Shares - Performance Condition In December 2016, 2015 and 2014 the Company granted 29,012, 32,687 and 28,871 respectively, of performance share awards that are subject to a performance condition and service requirement during the three year performance period. The performance condition associated with the awards is based on the Company's net sales growth compared to the net sales growth of the companies of a reference index, further adjusted by the Company achieving a target net income margin, each measured over the same three year performance period. Performance at target will result in vesting and issuance of the number of performance shares granted, equal to 100% payout. Performance below or above target can result in issuance in the range of 0%-250% of the number of shares granted. The fair value of the award is measured based upon the average of the high and low trading prices of the Company's common stock on the measurement date reduced by the present value of dividends expected to be paid during the requisite service period. The Company expenses these awards on a straight-line basis over the requisite service period. The weighted average fair value per share was $105.48 for the awards granted in 2016. The following table summarizes the attributes of the performance shares granted during 2016, 2015 and 2014:
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Share |
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share | Earnings Per Share The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. Restricted stock granted by the Company is considered a participating security since it contains a non-forfeitable right to dividends. The following table sets forth the computation of earnings per share for the three years ended December 31 (in millions, except per share amounts):
The Company did not have any significant anti-dilutive securities in 2016, 2015 or 2014. The calculation of diluted earnings per share for the year ended December 31, 2016, 2015 and 2014 excludes 58,418, 30,482 and an insignificant amount of weighted average of performance shares, respectively, that are subject to a performance condition. These shares are excluded from the calculation of diluted earnings per share because all necessary performance conditions have not been satisfied at the end of the respective reporting periods. Refer to Note 16 — Stock-Based Compensation for further information about those awards. |
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- Definition The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accumulated Other Comprehensive Loss |
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Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss A summary of the changes in Accumulated other comprehensive loss (net of tax) for the three years ended December 31, 2016 is provided below (in millions):
A summary of the gain (loss) reclassifications out of Accumulated other comprehensive loss for the two years ended December 31 is provided below (in millions):
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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Industry Segments and Geographic Area Information |
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Industry Segments and Geographic Area Information | Industry Segments and Geographic Area Information Nature of Operations Hubbell Incorporated was founded as a proprietorship in 1888, and was incorporated in Connecticut in 1905. Hubbell designs, manufactures and sells quality electrical and electronic products for a broad range of non-residential and residential construction, industrial and utility applications. Products are either sourced complete, manufactured or assembled by subsidiaries in the United States, Canada, Switzerland, Puerto Rico, China, Mexico, Italy, the UK, Brazil, Australia and Ireland. Hubbell also participates in joint ventures in Taiwan and Hong Kong, and maintains offices in Singapore, China, India, Mexico, South Korea and countries in the Middle East. The Company’s reporting segments consist of the Electrical segment and the Power segment, as described below. The Electrical segment is comprised of businesses that sell stock and custom products including standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, components and assemblies for the natural gas distribution market and other electrical equipment. The products are typically used in and around industrial, commercial and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies. In addition, certain businesses design and manufacture a variety of high voltage test and measurement equipment, industrial controls and communication systems used in the non-residential and industrial markets. Many of these products are designed such that they can also be used in harsh and hazardous locations where a potential for fire and explosion exists due to the presence of flammable gasses and vapors. Harsh and hazardous products are primarily used in the oil and gas (onshore and offshore) and mining industries. There are also a variety of lighting fixtures, wiring devices and electrical products that have residential and utility applications. These products are primarily sold through electrical and industrial distributors, home centers, some retail and hardware outlets, lighting showrooms and residential product oriented internet sites. Special application products are sold primarily through wholesale distributors to contractors, industrial customers and OEMs. High voltage products are also sold direct to customers through our sales engineers. The Electrical segment is comprised of three business groups, which have been aggregated as they have similar economic characteristics, customers and distribution channels, among other factors. The Power segment consists of operations that design and manufacture various distribution, transmission, substation and telecommunications products primarily used by the electrical utility industry. In addition, certain of these products are used in the civil construction and transportation industries. Products are sold to distributors and directly to users such as electric utilities, telecommunication companies, mining operations, industrial firms, construction and engineering firms. Financial Information Financial information by industry segment, product class and geographic area for each of the three years ended December 31, 2016, 2015 and 2014 is summarized below (in millions). When reading the data the following items should be noted:
INDUSTRY SEGMENT DATA
PRODUCT CLASS DATA
GEOGRAPHIC AREA DATA
On a geographic basis, the Company defines “international” as operations based outside of the United States and its possessions. As a percentage of total net sales, shipments from foreign operations directly to third parties were 10% in 2016, 11% in 2015 and 14% in 2014, with the Canadian and UK operations representing approximately 33% and 21%, respectively, of 2016 total international net sales. Of the remaining 2016 international sales Switzerland, Brazil, and Mexico represent 12%, 10%, and 9%, respectively. Long-lived assets, excluding deferred tax assets, of international subsidiaries were 10% of the consolidated total in 2016, 10% in 2015 and 12% in 2014, with the UK, Mexico and Canada operations representing approximately 25%, 22%, and 17%, respectively, of the 2016 international total. Export sales from United States operations were $213.8 million in 2016, $224.9 million in 2015 and $234.5 million in 2014. |
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- References No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Guarantees |
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Guarantees | Guarantees The Company records a liability equal to the fair value of guarantees in the Consolidated Balance Sheet in accordance with the accounting guidance for guarantees. When it is probable that a liability has been incurred and the amount can be reasonably estimated, the Company accrues for costs associated with guarantees. The most likely costs to be incurred are accrued based on an evaluation of currently available facts and, where no amount within a range of estimates is more likely, the minimum is accrued. As of December 31, 2016, the fair value and maximum potential payment related to the Company’s guarantees were not material. The Company offers product warranties which cover defects on most of its products. These warranties primarily apply to products that are properly installed, maintained and used for their intended purpose. The Company accrues estimated warranty costs at the time of sale. Estimated warranty expenses, recorded in cost of goods sold, are based upon historical information such as past experience, product failure rates, or the estimated number of units to be repaired or replaced. Adjustments are made to the product warranty accrual as claims are incurred, additional information becomes known or as historical experience indicates. Changes in the accrual for product warranties in 2016 are set forth below (in millions):
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- Definition The entire disclosure for standard and extended product warranties and other product guarantee contracts, including a tabular reconciliation of the changes in the guarantor's aggregate product warranty liability for the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Restructuring Costs |
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Restructuring and Related Activities [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring Costs | Restructuring Costs During 2016, we incurred costs for restructuring actions initiated in 2016 as well as costs involving restructuring actions initiated in the prior year. Our restructuring actions are associated with cost reduction efforts that include the consolidation of manufacturing and distribution facilities as well as workforce reductions and the sale or exit of business units we determine to be non-strategic. Restructuring costs are primarily severance and employee benefits, asset impairments, as well as facility closure, contract termination and certain pension costs that are directly related to restructuring actions. These costs are predominantly settled in cash from our operating activities and are generally settled within one year, with the exception of asset impairments, which are non-cash, and a $12.5 million charge in the fourth quarter of 2016 to recognize the estimated liability associated with the withdrawal from a multi-employer pension plan, which is expected to be settled over approximately 19 years. Pre-tax restructuring costs incurred in each of our segments and the location of the costs in the Consolidated Statement of Income for the years ended December 31, 2016, 2015 and 2014 are as follows (in millions):
The following table summarizes the accrued liabilities for our restructuring actions (in millions):
(a) Facility closure and other costs in 2016 include a charge of approximately $12.5 million to accrue the estimated liability associated with the anticipated withdrawal from a multi-employer pension plan as a result of a restructuring action. The actual and expected costs for our restructuring actions are as follows (in millions):
Costs incurred in 2016 relating to 2016 Restructuring Actions in the Electrical segment in the preceding table include the $12.5 million previously mentioned charge representing the estimated withdrawal liability from a multi-employer pension plan. Any potential future liability in excess of the amount already recognized in 2016 is not included in the remaining costs at December 31, 2016 in the preceding table. Additional information about the estimated withdrawal liability is included in Note 10 — Retirement Benefits in the Notes to Consolidated Financial Statements. |
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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Financial Data (Unaudited) |
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Quarterly Financial Data | Quarterly Financial Data (Unaudited) The table below sets forth summarized quarterly financial data for the years ended December 31, 2016 and 2015 (in millions, except per share amounts):
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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Valuation and Qualifying Accounts and Reserves |
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Valuation and Qualifying Accounts and Reserves | Valuation and Qualifying Accounts and Reserves for the Years Ended December 31, 2014, 2015 and 2016 Reserves deducted in the balance sheet from the assets to which they apply (in millions):
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- Definition The entire disclosure for any allowance and reserve accounts (their beginning and ending balances, as well as a reconciliation by type of activity during the period). Alternatively, disclosure of the required information may be within the footnotes to the financial statements or a supplemental schedule to the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Significant Accounting Policies (Policies) |
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Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation The Consolidated Financial Statements include all wholly owned subsidiaries. All significant intercompany balances and transactions have been eliminated. The Company participates in two joint ventures, one of which is accounted for using the equity method, the other has been consolidated in accordance with the consolidation accounting guidance. An analysis is performed to determine which reporting entity, if any, has a controlling financial interest in a variable interest entity (“VIE”) with a primarily qualitative analysis. The qualitative analysis is based on identifying the party that has both the power to direct the activities that most significantly impact the VIE’s economic performance (the “power criterion”) and the obligation to absorb losses from or the right to receive benefits of the VIE that could potentially be significant to the VIE (the “losses/benefit criterion”). The party that meets both these criteria is deemed to have a controlling financial interest. The party with the controlling financial interest is considered to be the primary beneficiary and as a result is required to consolidate the VIE. The Company has a 50% interest in a joint venture in Hong Kong, established as Hubbell Asia Limited (“HAL”). The principal objective of HAL is to manage the operations of its wholly-owned manufacturing company in China. Under the accounting guidance, the Company is the primary beneficiary of HAL and as a result consolidates HAL. This determination is based on the fact that HAL’s sole business purpose is to manufacture product exclusively for the Company (the power criterion) and the Company is financially responsible for ensuring HAL maintains a fixed operating margin (the losses/benefit criterion). The consolidation of HAL is not material to the Company’s consolidated financial statements. |
Use of Estimates | Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts in the Consolidated Financial Statements and accompanying Notes to Consolidated Financial Statements. Actual results could differ from the estimates that are used. |
Revenue Recognition | Revenue Recognition The Company recognizes revenue when persuasive evidence of an arrangement exists, delivery has occurred, the price is fixed and determinable and collection is probable. Product is considered delivered to the customer once it has been shipped and title and risk of loss have been transferred. The majority of the Company’s revenue is recognized at the time of shipment. The Company recognizes less than one percent of total annual consolidated net revenue from post shipment obligations and service contracts, primarily within the Electrical segment. Revenue is recognized under these contracts when the service is completed and all conditions of sale have been met. In addition, within the Electrical segment, certain businesses sell large and complex equipment which requires construction and assembly and occasionally has long lead times. It is customary in these businesses to require a portion of the selling price to be paid in advance of construction. These payments are treated as deferred revenue and are classified in Other accrued liabilities in the Consolidated Balance Sheet. Once the equipment is shipped to the customer and meets the revenue recognition criteria, the deferred revenue is recognized in the Consolidated Statement of Income. Further, certain of our businesses provide for sales discounts and allowances based on sales volumes, specific programs and customer deductions, as is customary in the electrical products industry. These items primarily relate to sales volume incentives, special pricing allowances, and returned goods. Sales volume incentives represent rebates with specific sales volume targets for specific customers. Certain distributors qualify for price rebates by subsequently reselling the Company’s products into select channels of end users. Following a distributor’s sale of an eligible product, the distributor submits a claim for a price rebate. Customers also have a right to return goods under certain circumstances which are reasonably estimable by affected businesses. Customer returns have historically ranged from 1%-2% of gross sales. These arrangements require us to estimate at the time of sale the amounts that should not be recorded as revenue as these amounts are not expected to be collected from customers. The Company principally relies on historical experience, specific customer agreements and anticipated future trends to estimate these amounts at the time of shipment. |
Shipping and Handling Fees and Costs | Shipping and Handling Fees and Costs The Company records shipping and handling costs as part of Cost of goods sold in the Consolidated Statement of Income. Any amounts billed to customers for reimbursement of shipping and handling are included in Net sales in the Consolidated Statement of Income. |
Foreign Currency Translation | Foreign Currency Translation The assets and liabilities of international subsidiaries are translated to U.S. dollars at exchange rates in effect at the end of the year, and income and expense items are translated at average exchange rates in effect during the year. The effects of exchange rate fluctuations on the translated amounts of foreign currency assets and liabilities are included as translation adjustments in Accumulated other comprehensive loss within Hubbell shareholders’ equity. Gains and losses from foreign currency transactions are included in results of operations. |
Cash and Cash Equivalents | Cash and Cash Equivalents The carrying value of cash equivalents approximates fair value. Cash equivalents consist of highly liquid investments with original maturities to the Company of three months or less. |
Investments | Investments Investments in debt and equity securities are classified by individual security as available-for-sale, held-to-maturity or trading securities. Our available-for-sale securities, consisting of municipal bonds and the redeemable preferred stock of a privately held company, are carried on the balance sheet at fair value with current period adjustments to carrying value recorded in Accumulated other comprehensive loss within Hubbell shareholders’ equity, net of tax. Realized gains and losses are recorded in income in the period of sale. The Company’s trading securities are carried on the balance sheet at fair value and consist primarily of debt and equity mutual funds. Gains and losses associated with these trading securities are reflected in the results of operations. |
Accounts Receivable and Allowances | Accounts Receivable and Allowances Trade accounts receivable are recorded at the invoiced amount and generally do not bear interest. The allowance for doubtful accounts is based on an estimated amount of probable credit losses in existing accounts receivable. The allowance is calculated based upon a combination of historical write-off experience, fixed percentages applied to aging categories and specific identification based upon a review of past due balances and problem accounts. Account balances are charged off against the allowance when it is determined that internal collection efforts should no longer be pursued. The Company also maintains a reserve for credit memos, cash discounts and product returns which are principally calculated based upon historical experience, specific customer agreements, as well as anticipated future trends. |
Inventories | Inventories Inventories are stated at the lower of cost or market value. Approximately 72% of total net inventory value is determined utilizing the last-in, first-out (LIFO) method of inventory accounting. The cost of foreign inventories and certain domestic inventories is determined utilizing average cost or first-in, first-out (FIFO) methods of inventory accounting. Reserves for excess and obsolete inventory are provided based on current assessments about future demand compared to on-hand quantities. |
Property, Plant and Equipment | Property, Plant, and Equipment Property, plant, and equipment values are stated at cost less accumulated depreciation. Maintenance and repair expenditures that do not significantly increase the life of an asset are charged to expense when incurred. Property, plant, and equipment placed in service prior to January 1, 1999 are depreciated over their estimated useful lives, principally using accelerated methods. Assets placed in service subsequent to January 1, 1999 are depreciated over their estimated useful lives, using straight-line methods. Leasehold improvements are amortized over the shorter of their economic lives or the lease term. Gains and losses arising on the disposal of property, plant and equipment are included in Operating income in the Consolidated Statement of Income. |
Capitalized Computer Software Costs | Capitalized Computer Software Costs Capitalized computer software costs, net of amortization, were $15.6 million and $12.4 million at December 31, 2016 and 2015, respectively. This balance is reflected in Other long-term assets in the Consolidated Balance Sheet. Capitalized computer software is for internal use and costs primarily consist of purchased materials and services. Software is amortized on a straight-line basis over appropriate periods, generally five years. |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill represents purchase price in excess of fair values of the underlying net assets of acquired companies. Indefinite-lived intangible assets and goodwill are subject to annual impairment testing using the specific guidance and criteria described in the accounting guidance. The Company performs its goodwill impairment testing as of April 1st of each year, unless circumstances dictate the need for more frequent assessments. The accounting guidance provides entities an option of performing a qualitative assessment (a "step-zero" test) before performing a quantitative analysis. If the entity determines, on the basis of certain qualitative factors, that it is more-likely-than-not that the goodwill is not impaired, the entity would not need to proceed to the two step goodwill impairment testing process (quantitative analysis) as prescribed in the guidance. The Company applied the "step-zero" test to its Hubbell Power Systems ("HPS") reporting unit. Based on that qualitative assessment, the Company concluded it was more-likely-than-not that the fair value of the HPS reporting unit substantially exceeded its carrying value and therefore, further quantitative analysis was not required. For each of the Company's other reporting units the Company has elected to utilize the two step goodwill impairment testing process as permitted in the accounting guidance. Step 1 compares the fair value of the Company’s reporting units to their carrying values. If the fair value of the reporting unit exceeds its carrying value, no further analysis is necessary. If the carrying value of the reporting unit exceeds its fair value, Step 2 must be completed to determine the amount of impairment. Goodwill impairment testing requires judgment, including the identification of reporting units, assigning assets and liabilities to reporting units and determining the fair value of each reporting unit. Significant judgments required to estimate the fair value of reporting units include estimating future cash flows, determining appropriate discount rates and other assumptions. The Company uses internal discounted cash flow estimates to determine fair value. These cash flow estimates are derived from historical experience and future long-term business plans and the application of an appropriate discount rate. Changes in these estimates and assumptions could materially affect the determination of fair value and/or goodwill impairment for each reporting unit. The Company’s estimated aggregate fair value of its reporting units are reasonable when compared to the Company’s market capitalization on the valuation date. As of April 1, 2016, our impairment testing resulted in implied fair values for each reporting unit that exceeded the reporting unit’s carrying value, including goodwill. The Company did not have any reporting units at risk of failing Step 1 of the impairment test as the excess of the estimated fair value over carrying value (expressed as a percentage of carrying value) ranged from approximately 75% to approximately 315% for the respective reporting units. Additionally, the Company did not have any reporting units with zero or negative carrying amounts. The Company has not recorded any goodwill impairments since the initial adoption of the accounting guidance in 2002. The Company’s intangible assets consist primarily of customer relationships, tradenames and patents. Intangible assets with definite lives are amortized over periods generally ranging from 5-30 years. These definite lived intangibles are tested for impairment whenever events or circumstances indicate that the carrying amount of an asset (asset group) may not be recoverable. An impairment loss is recognized when the carrying amount of an asset exceeds the estimated undiscounted cash flows used in determining the fair value of the asset. The Company did not record any impairments related to its definite lived intangible assets in 2016, 2015 or 2014. The Company also has some tradenames that are considered to be indefinite-lived intangible assets. These indefinite-lived intangible assets are not amortized and are tested for impairment annually, unless circumstances dictate the need for more frequent assessment. The accounting guidance related to testing indefinite-lived intangible assets for impairment provides entities an option of performing a qualitative assessment before calculating the fair value of the asset. If the entity determines, on the basis of certain qualitative factors, that it is more-likely-than-not that the asset is not impaired, the entity would not need to calculate the fair value of the asset. |
Other Long-Lived Assets | Other Long-Lived Assets The Company reviews depreciable long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. If such a change in circumstances occurs, the related estimated future undiscounted cash flows expected to result from the use of the asset group and its eventual disposition is compared to the carrying amount. If the sum of the expected cash flows is less than the carrying amount, an impairment charge is recorded. The impairment charge is measured as the amount by which the carrying amount exceeds the fair value of the asset. The fair value of impaired assets is determined using expected cash flow estimates, quoted market prices when available and appraisals as appropriate. |
Accrued Insurance | Accrued Insurance The Company retains a significant portion of the risks associated with workers’ compensation, medical, automobile and general liability insurance. The Company estimates self-insurance liabilities using a number of factors, including historical claims experience, demographic factors, and other actuarial assumptions. The accrued liabilities associated with these programs are based on the Company’s estimate of the ultimate costs to settle known claims as well as claims incurred but not reported as of the balance sheet date. The Company periodically reviews the assumptions with a third party actuary to determine the adequacy of these self-insurance reserves. |
Income Taxes | Income Taxes The Company operates within multiple taxing jurisdictions and is subject to audit in these jurisdictions. The IRS and other tax authorities routinely review the Company’s tax returns. These audits can involve complex issues which may require an extended period of time to resolve. The Company makes adequate provisions for best estimates of exposures on previously filed tax returns. Deferred income taxes are recognized for the tax consequence of differences between financial statement carrying amounts and the tax basis of assets and liabilities by applying the currently enacted statutory tax rates in accordance with the accounting guidance for income taxes. The effect of a change in statutory tax rates is recognized in the period that includes the enactment date. Additionally, deferred tax assets are required to be reduced by a valuation allowance if it is more-likely-than-not that some portion or all of the deferred tax asset will not be realized. The Company uses factors to assess the likelihood of realization of deferred tax assets such as the forecast of future taxable income and available tax planning strategies that could be implemented to realize the deferred tax assets. In addition, the accounting guidance prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of the tax position taken or expected to be taken in a tax return. For any amount of benefit to be recognized, it must be determined that it is more-likely-than-not that a tax position will be sustained upon examination by taxing authorities based on the technical merits of the position. The amount of benefit to be recognized is based on the Company’s assertion of the most likely outcome resulting from an examination, including resolution of any related appeals or litigation processes. Companies are required to reflect only those tax positions that are more-likely-than-not to be sustained. See also Note 12 — Income Taxes. |
Research and Development | Research and Development Research and development expenditures represent costs to discover and/or apply new knowledge in developing a new product, process, or in bringing about a significant improvement to an existing product or process. Research and development expenses are recorded as a component of Cost of goods sold. |
Retirement Benefits | Retirement Benefits The Company maintains various defined benefit pension plans for some of its U.S. and foreign employees. The accounting guidance for retirement benefits requires the Company to recognize the funded status of its defined benefit pension and postretirement plans as an asset or liability in the Consolidated Balance Sheet. Gains or losses, prior service costs or credits, and transition assets or obligations that have not yet been included in net periodic benefit cost as of the end of the year are recognized as components of Accumulated other comprehensive loss, net of tax, within Hubbell shareholders’ equity. The Company’s policy is to fund pension costs within the ranges prescribed by applicable regulations. In addition to providing defined benefit pension benefits, the Company provides health care and life insurance benefits for some of its active and retired employees. The Company’s policy is to fund these benefits through insurance premiums or as actual expenditures are made. See also Note 10 — Retirement Benefits. |
Earnings Per Share | Earnings Per Share Restricted stock granted by the Company is considered a participating security since it contains a non-forfeitable right to dividends. As a result, the earnings per share accounting guidance requires the Company to use the two-class method for calculating earnings per share. The two-class method is an earnings allocation formula that determines earnings per share for common stock and participating securities. Basic earnings per share is calculated as net income available to common shareholders divided by the weighted average number of shares of common stock outstanding. Earnings per diluted share is calculated as net income available to common shareholders divided by the weighted average number of shares outstanding of common stock plus the incremental shares outstanding assuming the exercise of dilutive stock options, stock appreciation rights and performance shares. See also Note 17 — Earnings Per Share. |
Stock-Based Compensation | Stock-Based Compensation The Company recognizes the grant-date fair value of all stock-based awards on a straight-line basis over their respective requisite service periods (generally equal to an award’s vesting period), except for certain restricted stock awards granted in 2013 with a performance condition, which are expensed using the graded vesting attribution method. A stock-based award is considered vested for expense attribution purposes when the retention of the award is no longer contingent on providing subsequent service. Accordingly, the Company recognizes compensation cost immediately for awards granted to retirement-eligible individuals or over the period from the grant date to the date retirement eligibility is achieved, if less than the stated vesting period. The expense is recorded in Cost of goods sold and S&A expense in the Consolidated Statement of Income based on the recipients’ respective functions within the organization. The Company records deferred tax assets for awards that will result in deductions on its tax returns, based upon the amount of compensation cost recognized and the statutory tax rate in the jurisdiction in which it will receive a deduction. Differences between the deferred tax assets recognized for financial reporting purposes and the actual tax deduction reported in the Company’s tax return are recorded to Additional paid-in capital to the extent that previously recognized credits to paid-in capital are still available. See also Note 16 — Stock-Based Compensation. |
Derivatives | Derivatives In order to limit financial risk in the management of its assets, liabilities and debt, the Company may use derivative financial instruments such as foreign currency hedges, interest rate hedges and interest rate swaps. All derivative financial instruments are matched with an existing Company asset, liability or proposed transaction. The Company does not speculate or use leverage when trading a derivative product. Market value gains or losses on the derivative financial instrument are recognized in income when the effects of the related price changes of the underlying asset or liability are recognized in income. See Note 13 — Fair Value Measurement for more information regarding our derivative instruments. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements In March 2016, the Financial Accounting Standards Board ("FASB") issued an Accounting Standards Update (ASU 2016-09) relating to the accounting for share-based payments. Upon adoption, from a statement of income viewpoint, the new guidance will require all income tax effects of share-based awards to be recognized in the income statement when the awards vest or are settled, and allows companies an additional election in the methods to estimate forfeitures of share-based payments. It also increases the amount an employer can withhold to satisfy the employer's statutory income tax withholding obligation while still qualifying for the exception to liability classification of the share-based awards. From a statement of cash flows viewpoint, the new guidance requires that excess tax benefits be classified as an operating activity and cash paid to a tax authority when shares are withheld to satisfy the employer's statutory income tax withholdings be classified as a financing activity. This update is effective for fiscal years beginning after December 15, 2016 with early adoption permitted. The Company does not believe the standard will have a material impact on its financial statements. In February 2016, the FASB issued an Accounting Standards Update (ASU 2016-02) related to the accounting for leases. This guidance will require a lessee to recognize a right-to-use asset and a lease liability for both financing and operating leases, with a policy election permitting an exception to this guidance for leases whose term is twelve months or less. For finance leases, the lessee will recognize interest expense and amortization of the right-of-use asset, and for operating leases the lessee will recognize a straight-line lease expense. This guidance is effective for fiscal years beginning after December 15, 2018, with early adoption permitted. The new standard must be adopted using a modified retrospective transition at the beginning of the earliest comparative period presented. The Company is currently assessing the impact of adopting this standard on its financial statements. In May 2014, the FASB issued an Accounting Standards Update (ASU 2014-09) related to new revenue recognition guidance that supersedes the existing revenue recognition guidance and most industry-specific guidance applicable to revenue recognition. According to the new guidance an entity will apply a principles-based five step model to recognize revenue upon the transfer of promised goods or services to customers and in an amount that reflects the consideration for which the entity expects to be entitled in exchange for those goods or services. The guidance is effective for fiscal years beginning after December 15, 2017 with earlier application permitted for annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. This standard can be applied on either a retrospective or modified retrospective approach. Through the course of 2016 a number of ASU's have been issued which further refine the original guidance issued under ASU 2014-09 and are effective in conjunction with this original standard. The Company has formed a project assessment and adoption team and is currently reviewing contract terms and assessing the impact of adopting the standard on its financial statements. |
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- Definition Disclosure of accounting policy of accrued insurance as it relates to self insurance of risks associated with workers compensation, medical, automobile, and general liability insurance. No definition available.
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- References No definition available.
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- Definition Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for derivatives entered into for trading purposes and those entered into for purposes other than trading including where and when derivative financial instruments and derivative commodity instruments and their related gains or losses are reported in the entity's statements of financial position, cash flows, and results of operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for goodwill and intangible assets. This accounting policy also may address how an entity assesses and measures impairment of goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for costs incurred when both (1) the software is acquired, internally developed, or modified solely to meet the entity's internal needs, and (2) during the software's development or modification, no substantive plan exists or is being developed to market the software externally. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Disclosure of accounting policy for investments in financial assets, including marketable securities (debt and equity securities with readily determinable fair values), investments accounted for under the equity method and cost method, securities borrowed and loaned, and repurchase and resale agreements. For marketable securities, the disclosure may include the entity's accounting treatment for transfers between investment categories and how the fair values for such securities are determined. Also, for all investments, an entity may describe its policy for assessing, recognizing and measuring impairment of the investment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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- Definition Disclosure of accounting policy for pension and other postretirement benefit plans. This accounting policy may address (1) the types of plans sponsored by the entity, and the benefits provided by each plan (2) groups that participate in (or are covered by) each plan (3) how plan assets, liabilities and expenses are measured, including the use of any actuaries and (4) significant assumptions used by the entity to value plan assets and liabilities and how such assumptions are derived. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, basis of assets, depreciation and depletion methods used, including composite deprecation, estimated useful lives, capitalization policy, accounting treatment for costs incurred for repairs and maintenance, capitalized interest and the method it is calculated, disposals and impairments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for trade and other accounts receivable, and finance, loan and lease receivables, including those classified as held for investment and held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for costs it has incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for revenue recognition. If the entity has different policies for different types of revenue transactions, the policy for each material type of transaction is generally disclosed. If a sales transaction has multiple element arrangements (for example, delivery of multiple products, services or the rights to use assets) the disclosure may indicate the accounting policy for each unit of accounting as well as how units of accounting are determined and valued. The disclosure may encompass important judgment as to appropriateness of principles related to recognition of revenue. The disclosure also may indicate the entity's treatment of any unearned or deferred revenue that arises from the transaction. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for the classification of shipping and handling costs, including whether the costs are included in cost of sales or included in other income statement accounts. If shipping and handling fees are significant and are not included in cost of sales, disclosure includes both the amounts of such costs and the line item on the income statement which includes such costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Business Acquisitions (Table) |
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||
Business Combinations [Abstract] | |||||||||||||||||||||||||||||||||
Summary of the Preliminary Fair Values of the Assets Acquired and Liabilities Assumed | The following table summarizes the preliminary fair values of the assets acquired and liabilities assumed at the date of acquisition related to all transactions (in millions):
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- References No definition available.
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- Definition Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Receivables and Allowances (Table) |
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable, Net, Current [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Components of Receivables and Allowances | Receivables consist of the following components at December 31, (in millions):
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- References No definition available.
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Inventory (Tables) |
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Inventory Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Inventory | Inventories are classified as follows at December 31, (in millions):
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- References No definition available.
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- Definition Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Other Intangible Assets (Tables) |
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Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Goodwill | Changes in the carrying amounts of goodwill for the years ended December 31, 2016 and 2015, by segment, were as follows (in millions):
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Schedule of Identifiable Intangible Assets | Identifiable intangible assets are recorded in Intangible assets, net in the Consolidated Balance Sheet. Identifiable intangible assets are comprised of the following (in millions):
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- Definition Tabular disclosure of the aggregate amount of intangible assets. No definition available.
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- References No definition available.
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- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Investment (Table) |
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Investments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Investments, Amortized Cost Basis | The following table sets forth selected data with respect to the Company’s investments at December 31, (in millions):
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Schedule of Contractual Maturities of Available-For-Sale Investments | Contractual maturities of our investments in available-for-sale securities at December 31, 2016 were as follows (in millions):
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- Definition Tabular disclosure of available-for-sale and trading securities which consist of all investments in certain debt and equity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. No definition available.
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- References No definition available.
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- Definition Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments. No definition available.
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Property, Plant and Equipment (Table) |
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Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Property, Plant, and Equipment | Property, plant, and equipment, carried at cost, is summarized as follows at December 31, (in millions):
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- References No definition available.
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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Other Accrued Liabilities (Table) |
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Accrued Liabilities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Other Accrued Liabilities | Other accrued liabilities consists of the following at December 31, (in millions):
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- References No definition available.
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- Definition Tabular disclosure of the components of accrued liabilities. No definition available.
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Other Non-Current Liabilities (Table) |
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Other Liabilities, Noncurrent [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Other Noncurrent Liabilities | Other non-current liabilities consists of the following at December 31, (in millions):
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- References No definition available.
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- Definition Tabular disclosure of other noncurrent liabilities. No definition available.
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Retirement Benefits (Tables) |
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Pension and Other Postretirement Benefit Expense [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Changes in Benefit Obligation and the Plan Assets | The following table sets forth the reconciliation of beginning and ending balances of the benefit obligations and the plan assets for the Company’s defined benefit pension and other benefit plans at December 31, (in millions):
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Summary of Accumulated Benefit Obligations in Excess of Plan Assets | Information with respect to plans with accumulated benefit obligations in excess of plan assets is as follows, (in millions):
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Schedule of the Components of Pension and Other Benefit Costs | The following table sets forth the components of pension and other benefit costs for the years ended December 31, (in millions):
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Schedule of Assumptions Used to Determine the Projected Benefit Obligation | The following assumptions were used to determine the projected benefit obligations at the measurement date and the net periodic benefit cost for the year:
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Schedule of Health Care Cost Trend Rates | The assumed health care cost trend rates used to determine the projected postretirement benefit obligation are as follows:
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Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates | A one-percentage-point change in assumed health care cost trend rates would have the following effects (in millions):
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Schedule of Allocation of Plan Assets | The Company’s combined targeted 2015 weighted average asset allocation for domestic and foreign pension plans and the actual weighted average asset allocation for domestic and foreign pension plans at December 31, 2016 and 2015 by asset category are as follows:
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Schedule of Changes in Fair Value of Plan Assets | The fair value of the Company’s pension plan assets at December 31, 2016 and 2015, by asset category are as follows (in millions):
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Schedule of Expected Benefit Payments | The following domestic and foreign benefit payments, which reflect future service, as appropriate, are expected to be paid as follows, (in millions):
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Tabular disclosure of accumulated benefit obligations and fair values of plan assets of pension plans and/or other employee benefit plans where the accumulated benefit obligation exceeds the fair value of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the assumptions used to determine for pension plans and/or other employee benefit plans the benefit obligation and net benefit cost, including assumed discount rates, rate increase in compensation increase, and expected long-term rates of return on plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the effect of a one-percentage-point increase and the effect of a one-percentage-point decrease in the assumed health care cost trend rates on the aggregate of the service and interest cost components of net periodic postretirement health care benefit costs and the accumulated postretirement benefit obligation for health care benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the assumed health care cost trend rates for the next year used to measure the expected cost of benefits covered by the plans, including the ultimate trend rate(s) and when that rate is expected to be achieved. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Debt | The following table sets forth the Company’s long-term debt at December 31, (in millions):
Other information related to short-term debt at December 31, is summarized below:
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
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Income Taxes (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Selected Data with Respect to the Company's Income Tax Provision | The following table sets forth selected data with respect to the Company’s income tax provisions for the years ended December 31, (in millions):
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Schedule of Deferred Tax Assets and Liabilities | Deferred tax assets and liabilities result from differences in the basis of assets and liabilities for tax and financial statement purposes. The components of the deferred tax assets/(liabilities) at December 31, were as follows (in millions):
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Reconciliation of Beginning and Ending Unrecognized Tax Benefits | A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows (in millions):
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Schedule of Effective Income Tax Rate Reconciliation | The consolidated effective income tax rate varied from the United States federal statutory income tax rate for the years ended December 31, as follows:
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Financial Instruments and Fair Value Measurement (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Financial Assets and Liabilities Accounted for at Fair Value | The following tables show, by level within the fair value hierarchy, the Company’s financial assets and liabilities that are accounted for at fair value on a recurring basis at December 31, 2016 and 2015 (in millions):
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Schedule of Derivative Instruments and Cash Flow Hedging Relationships | The following table summarizes the results of cash flow hedging relationships for years ended December 31, (in millions):
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure for cash flow hedging instruments of (a) the location and amount of gains and losses reported in the statement of financial performance and (b) the location and fair value amounts of the instruments reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Capital Stock (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity Note [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Activity in the Company's Common Shares Outstanding | Activity in the Company’s common shares outstanding is set forth below for the three years ended December 31, 2016 (in thousands):
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Schedule of Shares of the Company's Reserved Common Stock | Shares of the Company’s common stock were reserved at December 31, 2016 as follows (in thousands):
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- Definition Tabular disclosure of an entity's reserved shares. No definition available.
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X | ||||||||||
- Definition Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
|
Stock-Based Compensation (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | The following table summarizes the assumptions used in estimating the fair value of these awards:
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Schedule of Activity Related to Employee and Non-Employee Restricted Stock | Activity related to both employee and non-employee restricted stock for the year ended December 31, 2016 is as follows (in thousands, except per share amounts):
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Summary of Stock Appreciation Rights | Activity related to SARs for the year ended December 31, 2016 is as follows (in thousands, except per share amounts):
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Summary of the Weighted-Average Assumption Used in Estimating Fair Value of Stock Appreciation Rights | The following table summarizes the weighted-average assumptions used in estimating the fair value of the SARs granted during the years 2016, 2015 and 2014:
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Summary of Performance Shares Valuation | The following table summarizes the related assumptions used to determine the fair values of the performance share awards with a market condition granted during the years 2016, 2015 and 2014:
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Summary of the Attributes of the Performance Shares Granted During the Period | The following table summarizes the attributes of the performance shares granted during 2016, 2015 and 2014:
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X | ||||||||||
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of performance share awards, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) risk-free rate(s), No definition available.
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X | ||||||||||
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock appreciation rights, including, but not limited to: (a) expected term, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), No definition available.
|
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- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for stock appreciation rights awards that were outstanding at the beginning and end of the year, and the number of stock appreciation rights awards that were granted, exercised or converted, forfeited, and expired during the year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Earnings Per Share (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Earnings Per Share | The following table sets forth the computation of earnings per share for the three years ended December 31 (in millions, except per share amounts):
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- References No definition available.
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accumulated Other Comprehensive Loss (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of the Changes in Accumulated Other Comprehensive Loss (Net of Tax) | A summary of the changes in Accumulated other comprehensive loss (net of tax) for the three years ended December 31, 2016 is provided below (in millions):
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Summary of the Gain (Loss) Reclassifications Out of Accumulated Other Comprehensive Loss | A summary of the gain (loss) reclassifications out of Accumulated other comprehensive loss for the two years ended December 31 is provided below (in millions):
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- References No definition available.
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- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). No definition available.
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- Definition Tabular disclosure of components of comprehensive income (loss). Includes, but is not limited to, foreign currency translation adjustments, foreign currency transactions designated as economic hedges of a net investment in foreign entity, gain (loss) and prior service cost (credit) for pension plans and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Industry Segments and Geographic Area Information (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Industry Segment Data | INDUSTRY SEGMENT DATA
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Summary of Product Class Data | PRODUCT CLASS DATA
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Summary of Geographic Area Data | GEOGRAPHIC AREA DATA
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X | ||||||||||
- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
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Guarantees (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||
Standard Product Warranty Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||
Summary of Changes in the Accrued Product Warranties | Changes in the accrual for product warranties in 2016 are set forth below (in millions):
|
X | ||||||||||
- Definition Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
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Restructuring Costs (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Restructuring and Related Activities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Restructuring Costs | Pre-tax restructuring costs incurred in each of our segments and the location of the costs in the Consolidated Statement of Income for the years ended December 31, 2016, 2015 and 2014 are as follows (in millions):
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Schedule of Restructuring Reserve by Type of Cost | The following table summarizes the accrued liabilities for our restructuring actions (in millions):
The actual and expected costs for our restructuring actions are as follows (in millions):
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Financial Data (Unaudited) (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Summary of Quarterly Financial Data | The table below sets forth summarized quarterly financial data for the years ended December 31, 2016 and 2015 (in millions, except per share amounts):
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Tabular disclosure of quarterly financial data. Includes, but is not limited to, financial information for fiscal quarters, cumulative effect of a change in accounting principle and earnings per share data. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Significant Accounting Policies (Details) - USD ($) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Percentage of LIFO inventory | 72.00% | ||
Capitalized Computer Software, Net [Abstract] | |||
Capitalized computer software costs, net of amortization | $ 15,600,000 | $ 12,400,000 | |
Amortization expense | $ 5,200,000 | 4,600,000 | $ 4,300,000 |
Goodwill Annual Impairment Test [Abstract] | |||
Excess of goodwill implied fair value, over carrying value, beginning range | 75.00% | ||
Excess of goodwill implied fair value, over carrying value, end of range | 315.00% | ||
Impairment of intangible assets, finite-lived | $ 0 | 0 | 0 |
Impairment of intangible assets, indefinite-lived (excluding goodwill) | $ 0 | $ 0 | $ 0 |
Research and development expense as a percentage of cost of goods sold | 2.00% | 2.00% | 2.00% |
Minimum | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Customer returns as a percentage of gross sales | 1.00% | ||
Goodwill Annual Impairment Test [Abstract] | |||
Useful life, intangible assets | 5 years | ||
Maximum | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Customer returns as a percentage of gross sales | 2.00% | ||
Goodwill Annual Impairment Test [Abstract] | |||
Useful life, intangible assets | 30 years | ||
Capitalized Computer Software Costs | |||
Capitalized Computer Software, Net [Abstract] | |||
Depreciable lives | 5 years |
X | ||||||||||
- Definition Beginning of range of excess of estimated fair value goodwill, determined in connection with annual goodwill impairment test, over carrying value expressed as a percentage of carrying value No definition available.
|
X | ||||||||||
- Definition End of range of excess of estimated fair value goodwill, determined in connection with annual goodwill impairment test, over carrying value expressed as a percentage of carrying value No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Research And Development Expense As Percentage Of Cost Of Goods Sold No definition available.
|
X | ||||||||||
- Definition Sales Returns As Percentage Of Gross Sales, Percent No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount of expense for amortization of capitalized computer software costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The carrying amount of capitalized computer software costs net of accumulated amortization as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
X | ||||||||||
- Definition The amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of a finite-lived intangible asset to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of impairment loss resulting from write-down of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The percentage of LIFO (last in first out) inventory to total inventory as of the balance sheet date if other than 100 percent. No definition available.
|
X | ||||||||||
- Definition Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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Business Acquisitions - Narrative (Details) - USD ($) |
3 Months Ended | 12 Months Ended | |||
---|---|---|---|---|---|
Sep. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Business Acquisition [Line Items] | |||||
Acquisition of businesses, net of cash acquired | $ 173,400,000 | $ 163,400,000 | $ 183,800,000 | ||
Goodwill | $ 991,000,000 | $ 928,500,000 | $ 874,700,000 | ||
R.W. Lyall & Company, Inc. [Member] | |||||
Business Acquisition [Line Items] | |||||
Acquisition of businesses, net of cash acquired | $ 129,100,000 | ||||
Intangible assets acquired | 68,900,000 | ||||
Goodwill | $ 48,700,000 | ||||
Intangible assets, weighted average useful life | 21 years | ||||
Elmot Reality Associates, LLC, Elmot Reality Associates II, LLC, and DelRi LLC [Member] | |||||
Business Acquisition [Line Items] | |||||
Acquisition of businesses, net of cash acquired | $ 40,300,000 | ||||
Intangible assets acquired | 16,900,000 | ||||
Goodwill | $ 18,100,000 | ||||
Intangible assets, weighted average useful life | 19 years | ||||
Goodwill, expected to be tax deductible | $ 0 | ||||
Jiangsu Xiangyuan Electrical Equipment Co., Ltd. (Longbow) [Member] | |||||
Business Acquisition [Line Items] | |||||
Acquisition of businesses, net of cash acquired | $ 14,500,000 | ||||
Intangible assets acquired | 6,900,000 | ||||
Goodwill | 2,500,000 | ||||
Cash received | 2,000,000 | ||||
Payments to acquire business at closing | 2,900,000 | ||||
Future installment payments | $ 11,600,000 | ||||
Intangible assets, useful life | 11 years |
X | ||||||||||
- Definition Business Combination, Accrued Consideration No definition available.
|
X | ||||||||||
- Definition Weighted average amortization period of finite-lived intangible assets acquired either individually or as part of a group of assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The amount of goodwill arising from a business combination that is expected to be deductible for tax purposes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of identifiable intangible assets recognized as of the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash inflow associated with the acquisition of business during the period (for example, cash that was held by the acquired business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
X | ||||||||||
- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow associated with the acquisition of business during the period. The cash portion only of the acquisition price. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow associated with the acquisition of a business, net of the cash acquired from the purchase. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Business Acquisitions (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
---|---|---|---|
Business Acquisition [Line Items] | |||
Goodwill | $ 991.0 | $ 928.5 | $ 874.7 |
Series of Individually Immaterial Business Acquisitions | |||
Business Acquisition [Line Items] | |||
Tangible assets acquired, net of cash received | 62.3 | ||
Intangible assets | 92.6 | ||
Goodwill | 70.0 | ||
Net deferred taxes | (8.2) | ||
Liabilities assumed | (32.1) | ||
TOTAL CONSIDERATION, NET OF CASH RECEIVED | $ 184.6 |
X | ||||||||||
- Definition Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Tangible Assets Acquired, Net of Cash Received No definition available.
|
X | ||||||||||
- Definition Net Deferred Tax Liabilities No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The amount of identifiable intangible assets recognized as of the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of liabilities assumed at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount recognized for assets, including goodwill, in excess of (less than) the aggregate liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
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Receivables and Allowances (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Accounts, Notes, Loans and Financing Receivable, Net, Current [Abstract] | ||
Trade accounts receivable | $ 565.5 | $ 491.5 |
Non-trade receivables | 15.1 | 21.3 |
Accounts receivable, gross | 580.6 | 512.8 |
Allowance for credit memos, returns and cash discounts | (45.9) | (41.5) |
Allowance for doubtful accounts | (4.7) | (4.7) |
Total allowances | (50.6) | (46.2) |
ACCOUNTS RECEIVABLE, NET | $ 530.0 | $ 466.6 |
X | ||||||||||
- Definition A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible including a valuation allowance for the amount of products sold that the entity expects to be returned by the purchaser and as well as discounts taken by the customer and outstanding credit memos. No definition available.
|
X | ||||||||||
- Definition The total amount due to the entity within one year of the balance sheet date (or one operating cycle, if longer) from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, excluding allowances No definition available.
|
X | ||||||||||
- Definition A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amounts due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer) for goods or services (including trade receivables) that have been delivered or sold in the normal course of business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A valuation allowance for trade and other receivables due to an Entity within one year (or the normal operating cycle, whichever is longer) that are expected to be uncollectible. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The sum of amounts currently receivable other than from customers. For classified balance sheets, represents the current amount receivable, that is amounts expected to be collected within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The total amount due to the entity within one year of the balance sheet date (or one operating cycle, if longer) from outside sources, including trade accounts receivable, notes and loans receivable, as well as any other types of receivables, net of allowances established for the purpose of reducing such receivables to an amount that approximates their net realizable value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Inventory (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Inventory Disclosure [Abstract] | ||
Raw material | $ 162.7 | $ 167.5 |
Work-in-process | 102.8 | 99.6 |
Finished goods | 327.9 | 342.6 |
Inventory, gross | 593.4 | 609.7 |
Excess of FIFO over LIFO cost basis | (61.0) | (69.7) |
INVENTORIES, NET | $ 532.4 | $ 540.0 |
X | ||||||||||
- Definition The amount of FIFO (first in first out) inventory present at the reporting date when inventory is also valued using different valuation methods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Carrying amount, net of valuation reserves and adjustments, as of the balance sheet date of merchandise or goods held by the company that are readily available for sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount by which inventory stated at last-in first-out (LIFO) is less than (in excess of) inventory stated at other inventory cost methods. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying amount, net of valuation reserves and adjustments, as of the balance sheet date of unprocessed items to be consumed in the manufacturing or production process. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying amount, net of reserves and adjustments, as of the balance sheet date of merchandise or goods which are partially completed. This inventory is generally comprised of raw materials, labor and factory overhead costs, which require further materials, labor and overhead to be converted into finished goods, and which generally require the use of estimates to determine percentage complete and pricing. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Goodwill and Other Intangible Assets Goodwill (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Goodwill [Roll Forward] | ||
Goodwill, beginning of period | $ 928.5 | $ 874.7 |
Current year acquisitions | 70.0 | 55.3 |
Foreign currency translation and prior year acquisitions | (7.5) | (1.5) |
Goodwill, end of period | 991.0 | 928.5 |
Electrical | ||
Goodwill [Roll Forward] | ||
Goodwill, beginning of period | 611.2 | 568.9 |
Current year acquisitions | 49.4 | 43.3 |
Foreign currency translation and prior year acquisitions | (8.6) | (1.0) |
Goodwill, end of period | 652.0 | 611.2 |
Power | ||
Goodwill [Roll Forward] | ||
Goodwill, beginning of period | 317.3 | 305.8 |
Current year acquisitions | 20.6 | 12.0 |
Foreign currency translation and prior year acquisitions | 1.1 | (0.5) |
Goodwill, end of period | $ 339.0 | $ 317.3 |
X | ||||||||||
- Definition Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase in asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized resulting from a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of foreign currency translation gain (loss) which increases (decreases) an asset representing future economic benefits from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Other Intangible Assets (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Other Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | $ 549.6 | $ 465.0 |
Accumulated Amortization | (171.4) | (146.3) |
TOTAL INTANGIBLE ASSETS | 602.9 | 518.5 |
Tradenames and other | ||
Other Intangible Assets [Line Items] | ||
Indefinite-lived intangible assets (excluding goodwill) | 53.3 | 53.5 |
Patents, tradenames and trademarks | ||
Other Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 143.7 | 133.8 |
Accumulated Amortization | (43.4) | (38.0) |
Customer/agent relationships and other | ||
Other Intangible Assets [Line Items] | ||
Finite-lived intangible assets, gross | 405.9 | 331.2 |
Accumulated Amortization | $ (128.0) | $ (108.3) |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The aggregate gross carrying amount (including any previously recognized impairment charges) of both major finite-lived intangible asset class and indefinite lived. A major class is composed of intangible assets that can be grouped together because they are similar, either by their nature or by their use in the operations of a company. No definition available.
|
X | ||||||||||
- Definition Accumulated amount of amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before amortization of assets, excluding financial assets and goodwill, lacking physical substance with a finite life. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Goodwill and Other Intangible Assets Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Goodwill acquired | $ 70.0 | $ 55.3 | |
Year to date amortization expense | 32.3 | $ 28.2 | $ 23.8 |
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract] | |||
Amortization expense, 2017 | 32.4 | ||
Amortization expense, 2018 | 31.2 | ||
Amortization expense, 2019 | 29.5 | ||
Amortization expense, 2020 | 28.2 | ||
Amortization expense, 2021 | $ 27.3 |
X | ||||||||||
- Definition The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets. As a noncash expense, this element is added back to net income when calculating cash provided by or used in operations using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of amortization expense for assets, excluding financial assets and goodwill, lacking physical substance with a finite life expected to be recognized during the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of increase in asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized resulting from a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
Investments - Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Schedule of Available-for-sale Securities [Line Items] | |||
Available for sale investments | $ 57.4 | $ 52.0 | |
Payments to acquire available-for-sale securities | 20.0 | 24.5 | $ 17.6 |
Unrealized gains on available-for-sale securities, net of tax | (0.9) | ||
Unobservable inputs for which little or no market data exists (Level 3) | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available for sale investments | 3.8 | $ 4.6 | |
Payments to acquire available-for-sale securities | 5.0 | ||
Municipal Bonds | |||
Schedule of Available-for-sale Securities [Line Items] | |||
Available for sale investments | $ 53.7 |
X | ||||||||||
- Definition Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The change in unrealized holding gain (loss), net of tax, on available-for-sale securities included in a separate component of shareholders' equity during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow to acquire debt and equity securities not classified as either held-to-maturity securities or trading securities which would be classified as available-for-sale securities and reported at fair value, with unrealized gains and losses excluded from earnings and reported in a separate component of shareholders' equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Investments - Amortized Cost Basis (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Available-for-sale Securities [Abstract] | ||
Available-for-sale securities, amortized cost | $ 58.6 | $ 51.9 |
Available-for-sale securities, accumulated gross unrealized gains | 0.3 | 0.5 |
Available-for-sale securities, accumulated gross unrealized losses | (1.5) | (0.4) |
Available-for-sale debt securities | 57.4 | 52.0 |
Trading Securities [Abstract] | ||
Trading securities, amortized cost | 7.1 | 7.3 |
Trading securities, accumulated gross unrealized gains | 3.1 | 2.4 |
Trading securities, accumulated gross unrealized losses | 0.0 | 0.0 |
Trading securities | 10.2 | 9.7 |
Investments, amortized cost | 65.7 | 59.2 |
Investments, accumulated unrealized gains | 3.4 | 2.9 |
TOTAL INVESTMENTS | $ 67.6 | $ 61.7 |
X | ||||||||||
- Definition Marketable Securities, Amortized Cost No definition available.
|
X | ||||||||||
- Definition The amount of gross unrealized gains for securities, at a point in time, which are categorized either as available for sale or trading securities. No definition available.
|
X | ||||||||||
- Definition Trading Securities, Accumulated Gross Unrealized Gain, before Tax No definition available.
|
X | ||||||||||
- Definition Trading Securities, Accumulated Gross Unrealized Loss, before Tax No definition available.
|
X | ||||||||||
- Definition Trading Security, Amortized Cost No definition available.
|
X | ||||||||||
- Definition Amount before tax of unrealized gain in accumulated other comprehensive income (AOCI) on investments in debt securities classified as available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before tax of unrealized loss in accumulated other comprehensive income (AOCI) on investments in debt securities classified as available-for-sale. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of investments in debt and equity securities and other forms of securities that provide ownership interests classified as trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
Investments - Contractual Maturity (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Amortized Cost [Abstract] | ||
Amortized Cost Due within 1 year | $ 11.2 | |
Amortized Cost After 1 year but within 5 years | 36.4 | |
Amortized Cost After 5 years but within 10 years | 9.2 | |
Amortized Cost Due after 10 years | 1.8 | |
Available-for-sale securities, amortized cost | 58.6 | $ 51.9 |
Fair Value [Abstract] | ||
Fair Value Due within 1 year | 11.2 | |
Fair Value After 1 year but within 5 years | 35.4 | |
Fair Value After 5 years but within 10 years | 9.0 | |
Fair Value Due after 10 years | 1.8 | |
Available for Sale | $ 57.4 | $ 52.0 |
X | ||||||||||
- Definition Amortized Cost [Abstract] No definition available.
|
X | ||||||||||
- Definition Fair Value [Abstract] No definition available.
|
X | ||||||||||
- Definition This item represents the cost of debt securities, which are categorized neither as held-to-maturity nor trading, net of adjustments including accretion, amortization, collection of cash, previous other-than-temporary impairments recognized in earnings (less any cumulative-effect adjustments recognized, as defined), and fair value hedge accounting adjustments, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after adjustments of available-for-sale debt securities at cost, maturing in the sixth fiscal year through the tenth fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings less cumulative-effect adjustments, and fair value hedge accounting adjustments. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Fair value of available-for-sale debt securities maturing in the sixth fiscal year through the tenth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after adjustments of available-for-sale debt securities at cost, maturing in the second fiscal year through the fifth fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings less cumulative-effect adjustments, and fair value hedge accounting adjustments. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Fair value of available-for-sale debt securities maturing in the second fiscal year through the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after adjustments of available-for-sale debt securities at cost, maturing after the tenth fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings less cumulative-effect adjustments, and fair value hedge accounting adjustments. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Fair value of available-for-sale debt securities maturing after the tenth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after adjustments of available-for-sale debt securities at cost, maturing in the next fiscal year following the latest fiscal year. Adjustments include, but are not limited to, accretion, amortization, collection of cash, previous other-than-temporary impairments (OTTI) recognized in earnings less cumulative-effect adjustments, and fair value hedge accounting adjustments. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Fair value of available-for-sale debt securities maturing in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of debt securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Property, Plant and Equipment (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Property, Plant, and Equipment [Line Items] | |||
Gross property, plant, and equipment | $ 1,133.4 | $ 1,101.1 | |
Less accumulated depreciation | (693.6) | (681.4) | |
NET PROPERTY, PLANT, AND EQUIPMENT | 439.8 | 419.7 | |
Depreciation | 53.4 | 51.2 | $ 49.9 |
Land | |||
Property, Plant, and Equipment [Line Items] | |||
Gross property, plant, and equipment | 43.1 | 42.5 | |
Buildings and improvements | |||
Property, Plant, and Equipment [Line Items] | |||
Gross property, plant, and equipment | $ 268.7 | 259.4 | |
Buildings and improvements | Minimum | |||
Property, Plant, and Equipment [Line Items] | |||
Depreciable lives | 20 years | ||
Buildings and improvements | Maximum | |||
Property, Plant, and Equipment [Line Items] | |||
Depreciable lives | 45 years | ||
Machinery, tools, and equipment | |||
Property, Plant, and Equipment [Line Items] | |||
Gross property, plant, and equipment | $ 784.7 | 761.7 | |
Machinery, tools, and equipment | Minimum | |||
Property, Plant, and Equipment [Line Items] | |||
Depreciable lives | 3 years | ||
Machinery, tools, and equipment | Maximum | |||
Property, Plant, and Equipment [Line Items] | |||
Depreciable lives | 15 years | ||
Construction-in-progress | |||
Property, Plant, and Equipment [Line Items] | |||
Gross property, plant, and equipment | $ 36.9 | $ 37.5 |
X | ||||||||||
- Definition Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Other Accrued Liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Accrued Liabilities [Abstract] | ||
Customer program incentives | $ 41.2 | $ 40.7 |
Accrued income taxes | 8.4 | 2.1 |
Deferred revenue | 11.8 | 15.0 |
Other | 94.8 | 81.9 |
TOTAL | $ 156.2 | $ 139.7 |
X | ||||||||||
- Definition Carrying amount as of the balance sheet date of the unpaid sum of the known and estimated amounts payable to satisfy all currently due domestic and foreign income tax obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred through that date and payable for the marketing, trade and selling of the entity's goods and services. Marketing costs would include expenditures for planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services; costs of public relations and corporate promotions; and obligations incurred and payable for sales discounts, rebates, price protection programs, etc. offered to customers and under government programs. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). No definition available.
|
X | ||||||||||
- Definition The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of liabilities classified as other, due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Other Non-Current Liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Other Liabilities, Noncurrent [Abstract] | ||
Pensions | $ 208.3 | $ 150.7 |
Other post-employment benefits | 24.0 | 24.3 |
Deferred tax liabilities | 41.2 | 36.1 |
Other | 0.0 | 49.6 |
TOTAL | $ 341.7 | $ 260.7 |
X | ||||||||||
- Definition Gross amount of noncurrent deferred tax liabilities, which result from applying the applicable tax rate to taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This represents the noncurrent liability recognized in the balance sheet that is associated with the defined benefit pension plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Aggregated carrying amounts of obligations as of the balance sheet date, excluding long-term debt, incurred as part of the normal operations that are expected to be paid after one year or beyond the normal operating cycle, if longer. Alternate captions include Total Deferred Credits and Other Liabilities. No definition available.
|
X | ||||||||||
- Definition Amount of liabilities classified as other, due after one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition This represents the noncurrent liability recognized in the balance sheet that is associated with other postretirement defined benefit plans (excluding pension plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Retirement Benefits Narrative (Details) |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2016
USD ($)
benefit_plan
|
Dec. 31, 2016
USD ($)
benefit_plan
|
Dec. 31, 2015
USD ($)
benefit_plan
|
Dec. 31, 2014
USD ($)
|
|
Defined Benefit Plan Disclosure [Line Items] | ||||
Accumulated benefit obligation | $ 876,200,000 | $ 876,200,000 | $ 842,100,000 | |
Number of defined contribution pension plans (benefit plan) | benefit_plan | 6 | 6 | ||
Defined contribution pension plans, total costs | $ 15,600,000 | $ 13,300,000 | $ 12,900,000 | |
Number of multiemployer defined benefit pension plans (benefit_plan) | benefit_plan | 2 | 2 | 2 | |
Multiemployer plan total employer contributions | $ 500,000 | $ 800,000 | 0.8 | |
Pre-tax restructuring costs | 35,000,000 | 23,600,000 | 5,100,000 | |
Expected cost remaining | $ 12,200,000 | 12,200,000 | ||
Employer stock included in plan assets | $ 40,000,000 | $ 40,000,000 | $ 34,700,000 | |
Employer stock as percentage of plan assets | 6.60% | 6.60% | 5.30% | |
US Pension Plans | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Curtailment gain | $ 34,100,000 | |||
Amortization of prior service cost (credit) | 200,000 | |||
Projected benefit obligation | $ 40,000,000 | |||
Voluntary lump sum program payment | $ 27,700,000 | |||
Defined benefit obligation per plan, as a percent of total benefit obligation | 87.00% | |||
Discount rate | 4.30% | 4.30% | 4.80% | |
Effect on defined benefit obligation, due to change in mortality table utilized | 40,000,000 | |||
Employer contributions | $ 16,000,000 | |||
Pension Benefits | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Amortization of prior service cost (credit) | 100,000 | $ 200,000 | 200,000 | |
Benefit obligation | $ 917,400,000 | $ 917,400,000 | $ 912,300,000 | $ 976,300,000 |
Number of multiemployer defined benefit pension plans (benefit_plan) | benefit_plan | 2 | 2 | ||
Multiemployer plan, number of plans under 65% funded (benefit_plan) | benefit_plan | 1 | 1 | ||
Defined benefit plan, funded percentage | 65.00% | 65.00% | ||
Discount rate | 4.12% | 4.12% | 4.71% | 4.23% |
Employer contributions | $ 24,300,000 | $ 27,900,000 | ||
Foreign Pension Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Estimated future employer contributions in next fiscal year | $ 1,700,000 | |||
Foreign Pension Plan | Canada | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 3.85% | 3.85% | 3.90% | |
Foreign Pension Plan | United Kingdom | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Discount rate | 2.70% | 2.70% | 4.00% | |
Withdrawal from Multiemployer Defined Benefit Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Pre-tax restructuring costs | $ 12,500,000 | |||
Expected cost remaining | $ 28,000,000 | $ 28,000,000 |
X | ||||||||||
- Definition Defined Benefit Obligation, Percent Of Total Obligation No definition available.
|
X | ||||||||||
- Definition Defined Benefit Plan, Effect Of Change In Mortality Calculation No definition available.
|
X | ||||||||||
- Definition Defined Contribution Plan, Number of Plans No definition available.
|
X | ||||||||||
- Definition The percentage of plan assets comprised of employer securities. No definition available.
|
X | ||||||||||
- Definition Number of multiemployer plans the Company participates in. No definition available.
|
X | ||||||||||
- Definition Multiemployer Plan, Number of Plans Under 65% Funded No definition available.
|
X | ||||||||||
- Definition For defined benefit pension plans, the actuarial present value of benefits (whether vested or nonvested) attributed by the pension benefit formula to employee service rendered before a specified date and based on employee service and compensation (if applicable) before that date. The accumulated benefit obligation differs from the projected benefit obligation in that it includes no assumption about future compensation levels. For plans with flat-benefit or nonpay-related pension benefit formulas, the accumulated benefit obligation and the projected benefit obligation are the same. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of the prior service cost or credit recognized in net periodic benefit cost relating to benefit changes attributable to plan participants' prior service pursuant to a plan amendment or a plan initiation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of employer securities or securities of parties related to the employer that are included in plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The interest rate used to adjust for the time value of money for the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition 1) For defined benefit pension plans, the benefit obligation is the projected benefit obligation, which is the actuarial present value as of a date of all benefits attributed by the pension benefit formula to employee service rendered prior to that date. 2) For other postretirement defined benefit plans, the benefit obligation is the accumulated postretirement benefit obligation, which is the actuarial present value of benefits attributed to employee service rendered to a particular date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of contributions made by the employer to defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Plan assets of a defined benefit plan, as a percentage of projected benefit obligation. No definition available.
|
X | ||||||||||
- Definition The amount of net gain (loss) recognized in net periodic benefit cost as a result of an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of decrease that relates to an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include (a) making lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and (b) purchasing nonparticipating annuity contracts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of increase related to special termination benefits offered to and accepted by employees in connection with their termination of employment that are only offered for a short period of time. A situation involving termination benefits may also involve a curtailment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of employer's best estimate of contributions expected to be paid to the plan during the next fiscal year beginning after the date of the latest statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of the cost recognized during the period for defined contribution plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of contributions made to multiemployer plans by the employer. A multiemployer plan is a pension or postretirement benefit plan to which two or more unrelated employers contribute where assets contributed by one participating employer may be used to provide benefits to employees of other participating employers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of expected cost remaining for the specified restructuring cost. No definition available.
|
X | ||||||||||
- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Retirement Benefits Change in Benefit Obligations and Plan Assets (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Pension Benefits | |||
Change in benefit obligation | |||
Benefit obligation at beginning of year | $ 912.3 | $ 976.3 | |
Service cost | 12.9 | 17.7 | $ 15.1 |
Interest cost | 41.9 | 40.5 | 40.9 |
Plan participants’ contributions | 0.5 | 0.7 | |
Amendments | (34.1) | 0.0 | |
Actuarial loss (gain) | 88.0 | (46.6) | |
Currency impact | (18.5) | (6.7) | |
Other | (0.5) | (1.4) | |
Benefits paid | (85.1) | (68.2) | |
Benefit obligation at end of year | 917.4 | 912.3 | 976.3 |
Change in plan assets | |||
Fair value of plan assets at beginning of year | 757.6 | 835.7 | |
Actual return on plan assets | 23.6 | (31.8) | |
Employer contributions | 24.3 | 27.9 | |
Plan participants’ contributions | 0.5 | 0.7 | |
Currency impact | (15.8) | (6.7) | |
Benefits paid | (85.1) | (68.2) | |
Fair value of plan assets at end of year | 705.1 | 757.6 | 835.7 |
FUNDED STATUS | (212.3) | (154.7) | |
Prepaid pensions (included in Other long-term assets) | 1.7 | 1.4 | |
Accrued benefit liability (short-term and long-term) | (214.0) | (156.1) | |
NET AMOUNT RECOGNIZED IN THE CONSOLIDATED BALANCE SHEET | (212.3) | (154.7) | |
Amounts recognized in Accumulated other comprehensive loss (income) consist of: | |||
Net actuarial loss | 274.2 | 221.5 | |
Prior service cost (credit) | 0.4 | 0.6 | |
NET AMOUNT RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE LOSS | 274.6 | 222.1 | |
Other Benefits | |||
Change in benefit obligation | |||
Benefit obligation at beginning of year | 26.6 | 26.7 | |
Service cost | 0.0 | 0.1 | 0.1 |
Interest cost | 1.2 | 1.0 | 1.1 |
Plan participants’ contributions | 0.0 | 0.0 | |
Amendments | 0.0 | 0.0 | |
Actuarial loss (gain) | 0.2 | 0.5 | |
Currency impact | 0.0 | ||
Other | 0.0 | (0.1) | |
Benefits paid | (1.8) | (1.6) | |
Benefit obligation at end of year | 26.2 | 26.6 | $ 26.7 |
Change in plan assets | |||
Employer contributions | 1.8 | 1.6 | |
Plan participants’ contributions | 0.0 | 0.0 | |
Benefits paid | (1.8) | (1.6) | |
FUNDED STATUS | (26.2) | (26.6) | |
Accrued benefit liability (short-term and long-term) | (26.2) | (26.6) | |
NET AMOUNT RECOGNIZED IN THE CONSOLIDATED BALANCE SHEET | (26.2) | (26.6) | |
Amounts recognized in Accumulated other comprehensive loss (income) consist of: | |||
Net actuarial loss | 1.7 | 1.4 | |
Prior service cost (credit) | (3.3) | (4.2) | |
NET AMOUNT RECOGNIZED IN ACCUMULATED OTHER COMPREHENSIVE LOSS | $ (1.6) | $ (2.8) |
X | ||||||||||
- Definition The pretax total of net gain (loss), prior service cost (credit), and transition assets (obligations), as well as minimum pension liability if still remaining, included in accumulated other comprehensive income associated with a defined benefit pension or other postretirement plan(s) because they have yet to be recognized as components of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The pretax net amount of gains and losses that are not yet recognized as a component of net periodic benefit cost, and that are recognized as increases or decreases in other comprehensive income as they arise. Gains and losses are due to changes in the value of either the benefit obligation or the plan assets resulting from experience different from that assumed or from a change in an actuarial assumption, or the consequence of a decision to temporarily deviate from the substantive plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount related to the pretax cost of benefit changes attributable to plan participants' prior service pursuant to a plan amendment or a plan initiation, which has not yet been recognized as components of net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The difference between fair value of plan assets at the end of the period and the fair value at the beginning of the period, adjusted for contributions and payments of benefits during the period, and after adjusting for taxes and other expenses, as applicable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of gain (loss) related to change in benefit obligation resulting from changes in actuarial assumptions, for example, but not limited to, interest, mortality, employee turnover, salary, and temporary deviation from the substantive plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition 1) For defined benefit pension plans, the benefit obligation is the projected benefit obligation, which is the actuarial present value as of a date of all benefits attributed by the pension benefit formula to employee service rendered prior to that date. 2) For other postretirement defined benefit plans, the benefit obligation is the accumulated postretirement benefit obligation, which is the actuarial present value of benefits attributed to employee service rendered to a particular date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of payments made for which participants are entitled under a pension plan, including pension benefits, death benefits, and benefits due on termination of employment. Also includes payments made under a postretirement benefit plan, including prescription drug benefits, health care benefits, life insurance benefits, and legal, educational and advisory services. This item represents a periodic decrease to the plan obligations and a decrease to plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Amount of contributions made by the employer to defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of contributions made by plan participants. This item represents a periodic increase to the plan obligation and an increase to plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Fair value of assets that have been segregated and restricted to provide pension or postretirement benefits. Assets include, but are not limited to, stocks, bonds, other investments, earnings from investments, and contributions by the employer and employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of gain (loss) from foreign currency exchange rate changes for benefit obligation for plans of a foreign operation whose functional currency is not the reporting currency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of increase or decrease in plan assets attributed to foreign currency changes. The effects of foreign currency exchange rate changes that are to be disclosed are those applicable to plans of a foreign operation whose functional currency is not the reporting currency. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The funded status is measured as the difference between the fair value of plan assets and the benefit obligation. Will normally be the same as the net Defined Benefit Plan, Amounts Recognized in Balance Sheet, Total. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Changes in the defined benefit obligation, not otherwise separately disclosed in the financial statements. No definition available.
|
X | ||||||||||
- Definition The amount of increase or decrease due to a change in the terms of an existing plan or the initiation of a new plan. A plan amendment may increase or decrease benefits, including those attributed to years of service already rendered. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition This represents the entire liability recognized in the balance sheet that is associated with the defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Cumulative employer's contributions in excess of net pension cost recognized, before the adoption of the recognition provisions of FAS 158. Under FAS 158, prepaid pension costs are no longer recognized in the statement of financial position. Note that there is a separate concept for noncurrent assets relating to defined benefit pension and other defined benefit postretirement plans for use under the recognition provisions of FAS 158. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Retirement Benefits Accumulated Benefit Obligation In Excess of Plan Assets (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Pension and Other Postretirement Benefit Expense [Abstract] | ||
Projected benefit obligation | $ 801.1 | $ 807.9 |
Accumulated benefit obligation | 781.4 | 757.6 |
Fair value of plan assets | $ 603.1 | $ 655.3 |
X | ||||||||||
- Definition If aggregate disclosures are presented, the aggregate pension accumulated benefit obligation for pension plans with accumulated benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition If aggregate disclosures are presented, the aggregate fair value of plan assets for pension plans with accumulated benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition If aggregate disclosures are presented, the aggregate projected benefit obligation for pension plans with accumulated benefit obligations in excess of plan assets as of the measurement date of each statement of financial position presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
Retirement Benefits Components of Pension and Other Benefit Costs (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Pension Benefits | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | $ 12.9 | $ 17.7 | $ 15.1 |
Interest cost | 41.9 | 40.5 | 40.9 |
Expected return on plan assets | (44.3) | (53.2) | (45.2) |
Amortization of prior service cost (credit) | 0.1 | 0.2 | 0.2 |
Amortization of actuarial losses (gains) | 13.9 | 12.1 | 3.9 |
Other | 0.0 | 0.0 | 0.0 |
Curtailment and settlement losses (gains) | 0.2 | 0.0 | 0.0 |
Net periodic benefit cost (credit) | 24.7 | 17.3 | 14.9 |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Reclassification Adjustments, Net of Tax [Abstract] | |||
Current year net actuarial loss (gain) | 72.0 | 37.0 | 93.1 |
Current year prior service credit | 0.0 | 0.0 | 0.0 |
Amortization of prior service (cost) credit | (0.1) | (0.2) | (0.2) |
Amortization of net actuarial (losses) gains | (13.9) | (12.1) | (3.9) |
Currency impact | (4.0) | (0.1) | 0.0 |
Other adjustments | (0.2) | 0.0 | 0.0 |
Total recognized in other comprehensive loss (income) | 53.8 | 24.6 | 89.0 |
Amount Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss), before Tax | 78.5 | 41.9 | 103.9 |
Defined Benefit Plan, Amount to be Amortized from Accumulated Other Comprehensive Income (Loss) Next Fiscal Year [Abstract] | |||
Amortization of prior service cost (credit) | 0.1 | ||
Amortization of net loss (gain) | 11.0 | ||
TOTAL EXPECTED TO BE RECOGNIZED THROUGH INCOME DURING NEXT FISCAL YEAR | 11.1 | ||
Other Benefits | |||
Defined Benefit Plan, Net Periodic Benefit Cost [Abstract] | |||
Service cost | 0.0 | 0.1 | 0.1 |
Interest cost | 1.2 | 1.0 | 1.1 |
Expected return on plan assets | 0.0 | 0.0 | |
Amortization of prior service cost (credit) | (1.0) | (1.0) | (1.0) |
Amortization of actuarial losses (gains) | 0.0 | (0.1) | (0.1) |
Other | 0.0 | 0.0 | (2.2) |
Curtailment and settlement losses (gains) | 0.0 | 0.0 | 0.0 |
Net periodic benefit cost (credit) | 0.2 | 0.0 | (2.1) |
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, before Reclassification Adjustments, Net of Tax [Abstract] | |||
Current year net actuarial loss (gain) | 0.2 | 0.5 | 1.5 |
Current year prior service credit | 0.0 | 0.0 | |
Amortization of prior service (cost) credit | 1.0 | 1.0 | 1.0 |
Amortization of net actuarial (losses) gains | 0.0 | 0.1 | 0.1 |
Currency impact | 0.0 | 0.0 | 0.0 |
Other adjustments | 0.0 | 0.0 | 0.0 |
Total recognized in other comprehensive loss (income) | 1.2 | 1.6 | 2.6 |
Amount Recognized in Net Periodic Benefit Cost and Other Comprehensive Income (Loss), before Tax | 1.4 | $ 1.6 | $ 0.5 |
Defined Benefit Plan, Amount to be Amortized from Accumulated Other Comprehensive Income (Loss) Next Fiscal Year [Abstract] | |||
Amortization of prior service cost (credit) | (1.0) | ||
Amortization of net loss (gain) | 0.0 | ||
TOTAL EXPECTED TO BE RECOGNIZED THROUGH INCOME DURING NEXT FISCAL YEAR | $ (1.0) |
X | ||||||||||
- Definition The total amounts recognized in other comprehensive income related to foreign exchange impact. No definition available.
|
X | ||||||||||
- Definition Defined Benefit Plan, Other Costs (Benefits) No definition available.
|
X | ||||||||||
- Definition Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Other Adjustments, before Tax No definition available.
|
X | ||||||||||
- Definition Amount recognized in net periodic benefit cost and other comprehensive income. No definition available.
|
X | ||||||||||
- Definition The amount of gains or losses recognized in net periodic benefit cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of the prior service cost or credit recognized in net periodic benefit cost relating to benefit changes attributable to plan participants' prior service pursuant to a plan amendment or a plan initiation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount included in accumulated other comprehensive income (AOCI) expected to be recognized as components of net periodic benefit cost for the fiscal year that follows the most recent annual statement of financial position, including gain (loss), prior service cost (credit), and transition asset (obligation). No definition available.
|
X | ||||||||||
- Definition Amount before tax, after reclassification adjustments, of actuarial gain (loss) that has not been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before tax, after reclassification adjustments, of prior service cost (credit) that has not been recognized in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition An amount calculated as a basis for determining the extent of delayed recognition of the effects of changes in the fair value of assets. The expected return on plan assets is determined based on the expected long-term rate of return on plan assets and the market-related value of plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount included in accumulated other comprehensive income (AOCI) related to gain (loss) expected to be recognized as components of net periodic benefit cost for the fiscal year that follows the most recent annual statement of financial position. No definition available.
|
X | ||||||||||
- Definition Amount included in accumulated other comprehensive income (AOCI) related to prior service cost (credit) expected to be recognized as components of net periodic benefit cost for the fiscal year that follows the most recent annual statement of financial position. No definition available.
|
X | ||||||||||
- Definition The increase in a defined benefit pension plan's projected benefit obligation or a defined benefit postretirement plan's accumulated postretirement benefit obligation due to the passage of time. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The total amount of net periodic benefit cost for defined benefit plans for the period. Periodic benefit costs include the following components: service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) due to settlements or curtailments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of net gain (loss) recognized in net periodic benefit cost due to settlements and curtailments. Curtailments result from an event that significantly reduces the expected years of future service of present employees or eliminates for a significant number of employees the accrual of defined benefits for some or all of their future services. Settlements result from an irrevocable action that relieves the employer (or the plan) of primary responsibility for a benefit obligation and eliminates significant risks related to the obligation and the assets used to effect the settlement. Examples of transactions that constitute a settlement include, but are not limited to, lump-sum cash payments to plan participants in exchange for their rights to receive specified benefits and purchasing nonparticipating annuity contracts to cover vested benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The actuarial present value of benefits attributed by the pension benefit formula to services rendered by employees during the period. The portion of the expected postretirement benefit obligation attributed to employee service during the period. The service cost component is a portion of the benefit obligation and is unaffected by the funded status of the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before tax of reclassification adjustment from accumulated other comprehensive (income) loss for prior service cost (credit) related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount before tax, after reclassification adjustments, of (increase) decrease in accumulated other comprehensive (income) loss related to pension and other postretirement defined benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before tax of reclassification adjustment from accumulated other comprehensive income (loss) for actuarial gain (loss) related to pension and other postretirement benefit plans. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Retirement Benefits Projected Benefit Obligation Assumptions (Details) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Pension Benefits | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Discount rate | 4.12% | 4.71% | 4.23% |
Rate of compensation increase | 3.55% | 3.59% | 3.15% |
Discount rate | 4.71% | 4.23% | 5.04% |
Expected return on plan assets | 6.04% | 6.36% | 6.06% |
Rate of compensation increase | 3.59% | 3.15% | 3.18% |
Other Benefits | |||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
Discount rate | 4.10% | 4.60% | 4.10% |
Rate of compensation increase | 3.93% | 3.92% | 3.60% |
Discount rate | 4.60% | 4.10% | 4.60% |
Rate of compensation increase | 3.92% | 3.60% | 3.58% |
X | ||||||||||
- Definition The interest rate used to adjust for the time value of money for the plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Expected rate of compensation increases (for pay-related plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The interest rate used to adjust for the time value of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition An assumption as to the rate of return on plan assets reflecting the average rate of earnings expected on the funds invested or to be invested to provide for the benefits included in the benefit obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Expected rate of compensation increases (for pay-related plans). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Retirement Benefits Assumed Health Care Cost Trend Rates (Details) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Pension and Other Postretirement Benefit Expense [Abstract] | |||
Health care cost trend assumed for next year | 7.20% | 7.40% | 7.60% |
Rate to which the cost trend is assumed to decline | 5.00% | 5.00% | 5.00% |
Year that the rate reaches the ultimate trend rate | 2028 | 2028 | 2028 |
X | ||||||||||
- Definition The assumed health care cost trend rate for the next year used to measure the expected cost of benefits covered by the plan (gross eligible charges). This is based upon the annual rate of change in the cost of health care benefits currently provided by the postretirement benefit plan, due to factors other than changes in the composition of the plan population by age and dependency status. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The ultimate trend rate for health care costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Year the ultimate health care cost trend rate is expected to be reached, in CCYY format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
Retirement Benefits One-Percentage-Point Change in Assumed Health Care Cost Trend Rates (Details) $ in Millions |
12 Months Ended |
---|---|
Dec. 31, 2016
USD ($)
| |
Pension and Other Postretirement Benefit Expense [Abstract] | |
Effect on total of service and interest cost, one percentage point increase | $ 0.1 |
Effect on total of service and interest cost, one percentage point decrease | (0.1) |
Effect of on postretirement benefit obligation, one percentage point increase | 1.7 |
Effect on postretirement benefit obligation, one percentage point decrease | $ (1.5) |
X | ||||||||||
- Definition Amount of effect of a one-percentage-point decrease in the assumed health care cost trend rates on the accumulated postretirement benefit obligation for health care benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of effect of a one-percentage-point decrease in the assumed health care cost trend rates on the aggregate of the service and interest cost components of net periodic postretirement health care benefit costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The effect of a one-percentage-point increase in the assumed health care cost trend rates on the accumulated postretirement benefit obligation for health care benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The effect of a one-percentage-point increase in the assumed health care cost trend rates on the aggregate of the service and interest cost components of net periodic postretirement health care benefit costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
Retirement Benefits Combined Targeted and Actual Domestic and Foreign Pension Plans Weighted Average Asset Allocation (Details) |
12 Months Ended | |
---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Percentage of plan assets, target | 100.00% | |
Percentage of plan assets, actual | 100.00% | 100.00% |
Equity securities | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Percentage of plan assets, target | 19.00% | |
Percentage of plan assets, actual | 16.00% | 25.00% |
Debt securities & Cash | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Percentage of plan assets, target | 64.00% | |
Percentage of plan assets, actual | 65.00% | 52.00% |
Alternative Investments | ||
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | ||
Percentage of plan assets, target | 17.00% | |
Percentage of plan assets, actual | 19.00% | 23.00% |
X | ||||||||||
- Definition Target allocation of investments of this type to total plan assets presented on a weighted average basis. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Percentage of fair value of investments (categorized by debt securities, equity securities, real estate and other plan assets) to the fair value of plan assets held. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Retirement Benefits Fair Value Pension Plan Assets (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
---|---|---|---|
Defined Benefit Plan Disclosure [Line Items] | |||
Employer stock included in plan assets | $ 40.0 | $ 34.7 | |
Pension Plan | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 705.1 | 757.6 | $ 835.7 |
Pension Plan | Fair Value, Measurements, Recurring | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 705.1 | 757.6 | |
Investments Priced Using Net Asset Value | 86.5 | 92.4 | |
Pension Plan | Fair Value, Measurements, Recurring | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 48.3 | 62.0 | |
Pension Plan | Fair Value, Measurements, Recurring | US Large-Cap | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 29.5 | 29.0 | |
Pension Plan | Fair Value, Measurements, Recurring | US Mid-Cap and Small-Cap Growth | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 42.6 | 38.2 | |
Pension Plan | Fair Value, Measurements, Recurring | International Large-cap | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 27.6 | 28.7 | |
Pension Plan | Fair Value, Measurements, Recurring | Emerging Markets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 5.9 | 11.8 | |
Pension Plan | Fair Value, Measurements, Recurring | US Treasuries | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 334.5 | 186.4 | |
Pension Plan | Fair Value, Measurements, Recurring | Corporate Bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 21.0 | 99.6 | |
Pension Plan | Fair Value, Measurements, Recurring | Asset Backed Securities and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 45.0 | 126.6 | |
Pension Plan | Fair Value, Measurements, Recurring | Equity/Debt Futures | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 2.1 | 2.5 | |
Pension Plan | Fair Value, Measurements, Recurring | Derivative Liability | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | (1.1) | (0.7) | |
Pension Plan | Fair Value, Measurements, Recurring | Alternative Investment Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 133.5 | 158.3 | |
Investments Priced Using Net Asset Value | 86.5 | 92.4 | |
Pension Plan | Fair Value, Measurements, Recurring | Common Pooled Fund | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 16.2 | 15.2 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 202.0 | 237.6 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 48.3 | 62.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | US Large-Cap | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 29.5 | 29.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | US Mid-Cap and Small-Cap Growth | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 42.6 | 38.2 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | International Large-cap | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 27.6 | 28.7 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Emerging Markets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 5.9 | 11.8 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | US Treasuries | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate Bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.3 | 0.3 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Asset Backed Securities and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Equity/Debt Futures | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.5 | 1.6 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Derivative Liability | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | (0.5) | (0.7) | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Alternative Investment Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 47.0 | 65.9 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Identical Assets (Level 1) | Common Pooled Fund | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.8 | 0.8 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Similar Assets (Level 2) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 416.5 | 427.2 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Similar Assets (Level 2) | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Similar Assets (Level 2) | US Large-Cap | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Similar Assets (Level 2) | US Mid-Cap and Small-Cap Growth | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Similar Assets (Level 2) | International Large-cap | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Similar Assets (Level 2) | Emerging Markets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Similar Assets (Level 2) | US Treasuries | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 334.5 | 186.4 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Similar Assets (Level 2) | Corporate Bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 20.6 | 98.9 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Similar Assets (Level 2) | Asset Backed Securities and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 45.0 | 126.6 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Similar Assets (Level 2) | Equity/Debt Futures | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 1.6 | 0.9 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Similar Assets (Level 2) | Derivative Liability | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | (0.6) | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Similar Assets (Level 2) | Alternative Investment Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Quoted Prices in Active Markets for Similar Assets (Level 2) | Common Pooled Fund | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 15.4 | 14.4 | |
Pension Plan | Fair Value, Measurements, Recurring | Unobservable inputs for which little or no market data exists (Level 3) | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.1 | 0.4 | |
Pension Plan | Fair Value, Measurements, Recurring | Unobservable inputs for which little or no market data exists (Level 3) | Cash and cash equivalents | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Unobservable inputs for which little or no market data exists (Level 3) | US Large-Cap | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Unobservable inputs for which little or no market data exists (Level 3) | US Mid-Cap and Small-Cap Growth | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Unobservable inputs for which little or no market data exists (Level 3) | International Large-cap | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Unobservable inputs for which little or no market data exists (Level 3) | Emerging Markets | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Unobservable inputs for which little or no market data exists (Level 3) | US Treasuries | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Unobservable inputs for which little or no market data exists (Level 3) | Corporate Bonds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.1 | 0.4 | |
Pension Plan | Fair Value, Measurements, Recurring | Unobservable inputs for which little or no market data exists (Level 3) | Asset Backed Securities and Other | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Unobservable inputs for which little or no market data exists (Level 3) | Equity/Debt Futures | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Unobservable inputs for which little or no market data exists (Level 3) | Derivative Liability | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Unobservable inputs for which little or no market data exists (Level 3) | Alternative Investment Funds | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | 0.0 | 0.0 | |
Pension Plan | Fair Value, Measurements, Recurring | Unobservable inputs for which little or no market data exists (Level 3) | Common Pooled Fund | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Fair value of plan assets | $ 0.0 | $ 0.0 |
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- Definition Fair value of investments in certain entities that calculate net asset value per share, including, but not limited to, by unit, membership interest, or other ownership interest. Investments include, but are not limited to, investments in certain hedge funds, venture capital funds, private equity funds, real estate partnerships or funds. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The amount of employer securities or securities of parties related to the employer that are included in plan assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Fair value of assets that have been segregated and restricted to provide pension or postretirement benefits. Assets include, but are not limited to, stocks, bonds, other investments, earnings from investments, and contributions by the employer and employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Retirement Benefits Estimated Future Benefit Payments (Details) $ in Millions |
Dec. 31, 2016
USD ($)
|
---|---|
Pension Benefits | |
Defined Benefit Plan Disclosure [Line Items] | |
2017 | $ 41.3 |
2018 | 43.9 |
2019 | 44.0 |
2020 | 45.4 |
2021 | 47.2 |
2022-2026 | 265.7 |
Other Benefits | |
Defined Benefit Plan Disclosure [Line Items] | |
2017 | 2.3 |
2018 | 2.2 |
2019 | 2.2 |
2020 | 2.1 |
2021 | 2.1 |
2022-2026 | $ 8.9 |
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Amount of benefits from a defined benefit plan expected to be paid in the five fiscal years after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of benefits from a defined benefit plan expected to be paid in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of benefits from a defined benefit plan expected to be paid in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of benefits from a defined benefit plan expected to be paid in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of benefits from a defined benefit plan expected to be paid in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of benefits from a defined benefit plan expected to be paid in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt Summary of Long-term Debt (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Debt Instrument [Line Items] | ||
Long-term Debt | $ 990.5 | $ 595.9 |
Notes 2018 Term | ||
Debt Instrument [Line Items] | ||
Long-term Debt | $ 299.3 | $ 298.8 |
Interest rate, stated percentage | 5.95% | 5.95% |
Notes 2022 Term | ||
Debt Instrument [Line Items] | ||
Long-term Debt | $ 297.5 | $ 297.1 |
Interest rate, stated percentage | 3.625% | 3.625% |
Notes 2026 Term | ||
Debt Instrument [Line Items] | ||
Long-term Debt | $ 393.7 | |
Interest rate, stated percentage | 3.35% |
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Amount after unamortized (discount) premium and debt issuance costs of long-term debt classified as noncurrent and excluding amounts to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt Other Information Related to Short-term Debt (Details) |
12 Months Ended | |
---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Debt Disclosure [Abstract] | ||
Interest rate at year end | 6.89% | 0.47% |
Interest rate paid during the year (weighted average) | 0.72% | 4.54% |
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- References No definition available.
|
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- Definition The average effective interest rate during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Weighted average interest rate of short-term debt outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Debt Narrative (Details) - USD ($) |
1 Months Ended | 12 Months Ended | |||||
---|---|---|---|---|---|---|---|
Dec. 16, 2015 |
Mar. 31, 2016 |
Nov. 30, 2010 |
May 31, 2008 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Debt Instrument [Line Items] | |||||||
Short-term debt | $ 3,200,000 | $ 48,200,000 | |||||
Commercial paper | 0 | 48,000,000 | |||||
Long-term line of credit | 3,200,000.0 | 200,000.0 | |||||
Interest and fees paid | 37,100,000 | 29,500,000 | $ 29,400,000 | ||||
Other LOC | |||||||
Debt Instrument [Line Items] | |||||||
Line of credit, maximum borrowing capacity | 51,400,000.0 | 54,600,000.0 | |||||
Line of credit outstanding, current portion | $ 21,000,000 | $ 22,500,000 | |||||
Notes 2022 Term Interest Rate Lock | |||||||
Debt Instrument [Line Items] | |||||||
Gain (loss) on forward interest rate lock, recorded in accumulated other comprehensive loss | $ 1,600,000 | ||||||
Notes 2018 Term Interest Rate Lock | |||||||
Debt Instrument [Line Items] | |||||||
Gain (loss) on forward interest rate lock, recorded in accumulated other comprehensive loss | $ 1,200,000 | ||||||
Senior Notes | Notes 2026 Term | |||||||
Debt Instrument [Line Items] | |||||||
Face amount | $ 400,000,000 | ||||||
Interest rate, stated percentage | 3.35% | ||||||
Proceeds from issuance of long-term debt | $ 393,400,000 | ||||||
Senior Notes | Notes 2022 Term | |||||||
Debt Instrument [Line Items] | |||||||
Face amount | $ 300,000,000 | ||||||
Interest rate, stated percentage | 3.625% | ||||||
Senior Notes | Notes 2018 Term | |||||||
Debt Instrument [Line Items] | |||||||
Face amount | $ 300,000,000 | ||||||
Interest rate, stated percentage | 5.95% | ||||||
Line of Credit | Revolving Credit Facility | Credit Agreement | |||||||
Debt Instrument [Line Items] | |||||||
Debt instrument, term | 5 years | ||||||
Line of credit, maximum borrowing capacity | $ 750,000,000 | ||||||
Line of credit facility, accordion feature, higher borrowing capacity option | $ 1,250,000,000.000 | ||||||
Line of credit, maximum debt to capitalization, percentage | 55.00% | ||||||
Notes 2026 Term | |||||||
Debt Instrument [Line Items] | |||||||
Interest rate, stated percentage | 3.35% | ||||||
Notes 2022 Term | |||||||
Debt Instrument [Line Items] | |||||||
Interest rate, stated percentage | 3.625% | 3.625% | |||||
Notes 2018 Term | |||||||
Debt Instrument [Line Items] | |||||||
Interest rate, stated percentage | 5.95% | 5.95% |
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- Definition Interest and fees paid on total indebtedness No definition available.
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- Definition Line Of Credit Facility, Covenants, Maximum Debt to Capitalization Percentage No definition available.
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- Definition Line of Credit Facility, Accordion Feature, Higher Borrowing Capacity Option No definition available.
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- Definition Proceeds from Issuance of Long-term Debt, Net Of Issuance Costs And Discounts No definition available.
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- Definition Carrying value as of the balance sheet date of short-term borrowings using unsecured obligations issued by banks, corporations and other borrowers to investors. The maturities of these money market securities generally do not exceed 270 days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Face (par) amount of debt instrument at time of issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The carrying value as of the balance sheet date of the current portion of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Reflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of unrealized gain (loss) related to the increase or decrease in fair value of interest rate derivatives designated as cash flow hedging instruments, which was recorded in accumulated other comprehensive income to the extent that the cash flow hedge was determined to be effective. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes Components of Income Tax Expense (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Income before income taxes: | |||
United States | $ 349.5 | $ 347.2 | $ 385.6 |
International | 80.9 | 71.4 | 99.9 |
Income before income taxes | 430.4 | 418.6 | 485.5 |
Provision for income taxes — current: | |||
Federal | 85.5 | 110.4 | 90.1 |
State | 17.4 | 13.7 | 15.4 |
International | 17.0 | 17.6 | 22.5 |
Total provision-current | 119.9 | 141.7 | 128.0 |
Provision for income taxes — deferred: | |||
Federal | 13.5 | (1.7) | 24.4 |
State | 1.3 | 0.4 | 2.7 |
International | (2.1) | (3.9) | 3.2 |
Total provision — deferred | 12.7 | (5.2) | 30.3 |
TOTAL PROVISION FOR INCOME TAXES | $ 132.6 | $ 136.5 | $ 158.3 |
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- References No definition available.
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- Definition Amount of current federal tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of current foreign income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of current state and local tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of deferred federal income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of deferred foreign income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount of deferred state and local tax expense (benefit) pertaining to income (loss) from continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of earnings or loss from continuing operations before income taxes that is attributable to domestic operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of earnings or loss from continuing operations before income taxes that is attributable to foreign operations, which is defined as Income or Loss generated from operations located outside the entity's country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Income Taxes Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Deferred tax assets: | ||
Inventories | $ 8.8 | $ 6.8 |
Income tax credits | 30.9 | 31.9 |
Accrued liabilities | 20.8 | 25.0 |
Pension | 77.6 | 58.2 |
Post retirement and post employment benefits | 10.0 | 10.4 |
Stock-based compensation | 17.5 | 12.6 |
Net operating loss carryforwards | 27.2 | 31.0 |
Miscellaneous other | 7.5 | 7.0 |
Gross deferred tax assets | 200.3 | 182.9 |
Valuation allowance | (22.6) | (22.0) |
Total deferred tax assets, net of valuation allowance | 177.7 | 160.9 |
Deferred tax liabilities: | ||
Acquisition basis difference | (162.1) | (149.2) |
Property, plant, and equipment | (46.3) | (41.6) |
Total deferred tax liabilities | (208.4) | (190.8) |
Non-current tax assets (included in Other long-term assets) | 10.5 | 6.2 |
Non-current tax liabilities (included in Other Non-current liabilities) | (41.2) | (36.1) |
TOTAL NET DEFERRED TAX LIABILITY | $ (30.7) | $ (29.9) |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount, before allocation of valuation allowance, of deferred tax asset attributable to deductible temporary differences, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount, before allocation of a valuation allowances, of deferred tax assets attributable to deductible tax credit carryforwards including, but not limited to, research, foreign, general business, alternative minimum tax, and other deductible tax credit carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from pension benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from postretirement benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from share-based compensation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from accrued liabilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences without jurisdictional netting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Gross amount of noncurrent deferred tax liabilities, which result from applying the applicable tax rate to taxable temporary differences pertaining to each jurisdiction to which the entity is obligated to pay income tax. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred tax liability attributable to taxable temporary differences from property, plant, and equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Income Taxes Unrecognized Tax Benefits (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits at beginning of year | $ 20.3 | $ 21.6 | $ 14.8 |
Additions based on tax positions relating to the current year | 2.8 | 2.9 | 2.9 |
Reductions based on expiration of statute of limitations | (5.7) | (2.8) | (1.2) |
Additions to tax positions relating to previous years | 2.9 | 0.4 | 9.5 |
Settlements | (0.1) | (1.8) | (4.4) |
TOTAL UNRECOGNIZED TAX BENEFITS | $ 20.2 | $ 20.3 | $ 21.6 |
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Amount of unrecognized tax benefits. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of decrease in unrecognized tax benefits resulting from settlements with taxing authorities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase in unrecognized tax benefits resulting from tax positions that have been or will be taken in current period tax return. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase in unrecognized tax benefits resulting from tax positions taken in prior period tax returns. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of decrease in unrecognized tax benefits resulting from lapses of applicable statutes of limitations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Income Taxes Effective Income Tax Rate Reconciliation (Details) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Income Tax Disclosure [Abstract] | |||
Federal statutory income tax rate | 35.00% | 35.00% | 35.00% |
State income taxes, net of federal benefit | 2.40% | 2.30% | 2.00% |
Foreign income taxes | (3.40%) | (3.90%) | (2.10%) |
Other, net | (3.20%) | (0.80%) | (2.30%) |
CONSOLIDATED EFFECTIVE INCOME TAX RATE | 30.80% | 32.60% | 32.60% |
X | ||||||||||
- Definition Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Percentage of domestic federal statutory tax rate applicable to pretax income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to statutory income tax expense (benefit) outside of the country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to other adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Percentage of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations applicable to state and local income tax expense (benefit), net of federal tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
Income Taxes Narrative (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Tax Credit Carryforward [Line Items] | |||
Income tax credits | $ 30.9 | $ 31.9 | |
Net operating loss carryforwards | 27.2 | 31.0 | |
Valuation allowance | 22.6 | 22.0 | |
Undistributed earnings of foreign subsidiaries | 890.0 | ||
Amount of unrecognized deferred tax liability, undistributed earnings of foreign subsidiaries | 200.0 | ||
Income taxes paid | 117.4 | 139.1 | $ 125.4 |
Unrecognized tax benefits that would impact effective tax rate | 16.0 | ||
Unrecognized tax benefits timing of deductibility unknown | 1.2 | ||
Unrecognized tax benefits, income tax penalties and interest expense | 0.7 | 1.2 | $ 1.7 |
Unrecognized tax benefits, income tax penalties and interest accrued | 4.8 | $ 4.1 | |
Federal, State, and Local | |||
Tax Credit Carryforward [Line Items] | |||
Net operating loss carryforwards | 27.2 | ||
Tax credit carryforward indefinitely | |||
Tax Credit Carryforward [Line Items] | |||
Income tax credits | 11.7 | ||
Net operating loss carryforwards | 8.6 | ||
Carryforward Subject To Expiration | |||
Tax Credit Carryforward [Line Items] | |||
Income tax credits | 19.2 | ||
Net operating loss carryforwards | 18.6 | ||
Minimum | |||
Tax Credit Carryforward [Line Items] | |||
Significant (increase) decrease in unrecognized tax benefits is reasonably possible, estimated range of change, upper bound | 3.0 | ||
Maximum | |||
Tax Credit Carryforward [Line Items] | |||
Significant (increase) decrease in unrecognized tax benefits is reasonably possible, estimated range of change, upper bound | $ 5.0 |
X | ||||||||||
- Definition For a tax position whose tax characterization is highly certain but for which there is uncertainty about the timing of such deductibility. No definition available.
|
X | ||||||||||
- Definition Amount of decrease reasonably possible in the next twelve months for the unrecognized tax benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount before allocation of valuation allowances of deferred tax asset attributable to deductible operating loss carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount, before allocation of a valuation allowances, of deferred tax assets attributable to deductible tax credit carryforwards including, but not limited to, research, foreign, general business, alternative minimum tax, and other deductible tax credit carryforwards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred tax assets for which it is more likely than not that a tax benefit will not be realized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of deferred tax liability not recognized because of the exceptions to comprehensive recognition of deferred taxes related to undistributed earnings of foreign subsidiaries. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of other income tax expense (benefit). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount of undistributed earnings of foreign subsidiaries intended to be permanently reinvested outside the country of domicile. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount accrued for interest on an underpayment of income taxes and penalties related to a tax position claimed or expected to be claimed in the tax return. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The total amount of unrecognized tax benefits that, if recognized, would affect the effective tax rate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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- Details
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X | ||||||||||
- Details
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Financial Instruments and Fair Value Measurement Narrative (Details) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016
USD ($)
derivate
investment
|
Dec. 31, 2015
USD ($)
investment
|
Dec. 31, 2014
USD ($)
|
|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investments carried at fair value | $ 67,600,000 | $ 61,700,000 | |
Purchase of trading securities held-for-investment | 1,400,000 | 1,000,000 | |
Proceeds from the sale of trading securities held-for-investment | $ 1,600,000 | 300,000 | |
Number of foreign exchange contracts held (foreign_exchange_contract) | derivate | 51 | ||
Hedge ineffectiveness with respect to forward exchange cash flow hedges | $ 0 | 0 | $ 0 |
Long-term debt | 990,500,000 | 595,900,000 | |
Long-term debt, fair value | 1,017,800,000 | $ 630,500,000 | |
Minimum | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative, notional amount | 400,000.0 | ||
Maximum | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative, notional amount | $ 1,200,000.0 | ||
Unobservable inputs for which little or no market data exists (Level 3) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Number of available-for-sale securities (investment) | investment | 1 | 1 |
X | ||||||||||
- Definition Number of Available-For-Sale Securities No definition available.
|
X | ||||||||||
- Definition Aggregate notional amount specified by the derivative(s). Expressed as an absolute value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The amount of net gains or losses on interest rate cash flow hedges reclassified during the period to earnings from accumulated other comprehensive income upon the hedged transaction affecting earnings. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Fair value portion of investment securities, including, but not limited to, marketable securities, derivative financial instruments, and investments accounted for under the equity method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The fair value amount of long-term debt whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may be used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. No definition available.
|
X | ||||||||||
- Definition Amount after unamortized (discount) premium and debt issuance costs of long-term debt classified as noncurrent and excluding amounts to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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- Definition Number of foreign currency exchange rate derivatives held by the entity at the reporting date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The cash outflow to acquire securities classified as trading securities and held for investment purposes. Excludes payments for trading securities purchased and held principally for the purpose of selling them in the near term (thus held for only a short period of time). No definition available.
|
X | ||||||||||
- Definition The cash inflow associated with the sale of securities classified as trading securities and held for investment purposes. Excludes proceeds from trading securities purchased and held principally for the purpose of selling them in the near term (thus held for only a short period of time). No definition available.
|
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- Details
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X | ||||||||||
- Details
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- Details
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Financial Instruments and Fair Value Measurement Fair Value Hierarchy (Details) - USD ($) $ in Millions |
Dec. 31, 2016 |
Dec. 31, 2015 |
---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds (a) | $ 263.5 | $ 210.9 |
Available for sale investments | 57.4 | 52.0 |
Trading securities | 10.2 | 9.7 |
Deferred compensation plan liabilities | (10.2) | (9.7) |
Derivatives: | ||
Forward exchange contracts-Assets (b) | 0.8 | 2.5 |
Forward exchange contracts-(Liabilities) (c) | (0.1) | (0.1) |
Fair value, net asset (liability) | 321.6 | 265.3 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds (a) | 263.5 | 210.9 |
Available for sale investments | 0.0 | 0.0 |
Trading securities | 10.2 | 9.7 |
Deferred compensation plan liabilities | (10.2) | (9.7) |
Derivatives: | ||
Forward exchange contracts-Assets (b) | 0.0 | 0.0 |
Forward exchange contracts-(Liabilities) (c) | 0.0 | 0.0 |
Fair value, net asset (liability) | 263.5 | 210.9 |
Quoted Prices in Active Markets for Similar Assets (Level 2) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds (a) | 0.0 | 0.0 |
Available for sale investments | 53.6 | 47.4 |
Trading securities | 0.0 | 0.0 |
Deferred compensation plan liabilities | 0.0 | 0.0 |
Derivatives: | ||
Forward exchange contracts-Assets (b) | 0.8 | 2.5 |
Forward exchange contracts-(Liabilities) (c) | (0.1) | (0.1) |
Fair value, net asset (liability) | 54.3 | 49.8 |
Unobservable inputs for which little or no market data exists (Level 3) | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds (a) | 0.0 | 0.0 |
Available for sale investments | 3.8 | 4.6 |
Trading securities | 0.0 | 0.0 |
Deferred compensation plan liabilities | 0.0 | 0.0 |
Derivatives: | ||
Forward exchange contracts-Assets (b) | 0.0 | 0.0 |
Forward exchange contracts-(Liabilities) (c) | 0.0 | 0.0 |
Fair value, net asset (liability) | $ 3.8 | $ 4.6 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of investment in debt and equity securities categorized neither as held-to-maturity nor trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Fair value of all liability derivatives designated as cash flow hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Net fair value of all derivative instruments designated as cash flow hedging instruments, which is ordinarily reflected within other comprehensive income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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- Definition The carrying amount of the liability as of the balance sheet date to an individual under a deferred compensation arrangement. This amount may be the result of periodic accruals made over the period of active employment, or reflect termination benefits resulting contractual terms or a death benefit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Fair value of asset after deduction of liability. No definition available.
|
X | ||||||||||
- Definition Investment in short-term money-market instruments (such as commercial paper, banker's acceptances, repurchase agreements, government securities, certificates of deposit, and so forth) which are highly liquid (that is, readily convertible to known amounts of cash) and so near their maturity that they present an insignificant risk of changes in value because of changes in interest rates. Generally, only investments with original maturities of three months or less qualify as cash equivalents by definition. Original maturity means an original maturity to the entity holding the investment. For example, both a three-month US Treasury bill and a three-year Treasury note purchased three months from maturity qualify as cash equivalents. However, a Treasury note purchased three-years ago does not become a cash equivalent when its remaining maturity is three months. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of investments in debt and equity securities and other forms of securities that provide ownership interests classified as trading. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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- Details
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- Details
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- Details
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Financial Instruments and Fair Value Measurement Cash Flow Hedging Relationships (Details) - Forward exchange contract - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Derivative Gain/(Loss) Recognized in Accumulated Other Comprehensive Loss, net of tax | $ (1.4) | $ 1.7 |
Net sales | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Gain/(Loss) Reclassified into Earnings (Effective Portion) | (0.3) | 0.0 |
Cost of goods sold | ||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||
Gain/(Loss) Reclassified into Earnings (Effective Portion) | $ 0.3 | $ 0.3 |
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition The effective portion of net gain (loss) reclassified from accumulated other comprehensive income into income on derivative instruments designated and qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The effective portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments that was recognized in other comprehensive income during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments and Contingencies (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Operating Leased Assets [Line Items] | |||
Accrual for environmental loss contingencies | $ 5.2 | $ 14.2 | |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
Operating lease rent expense | 28.8 | $ 25.7 | $ 24.7 |
Due in 2017 | 18.7 | ||
Due in 2018 | 16.7 | ||
Due in 2019 | 13.0 | ||
Due in 2020 | 9.3 | ||
Due in 2021 | 7.0 | ||
Due thereafter | $ 23.1 | ||
Maximum | |||
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |||
Operating lease, contract term | 12 years |
X | ||||||||||
- Definition Total costs accrued as of the balance sheet date for environmental loss contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Term of the lessee's leasing arrangement, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the next fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the fourth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the third fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due in the second fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of required minimum rental payments for operating leases having an initial or remaining non-cancelable lease term in excess of one year due after the fifth fiscal year following the latest fiscal year. Excludes interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Rental expense for the reporting period incurred under operating leases, including minimum and any contingent rent expense, net of related sublease income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
|
Capital Stock Common Stock Outstanding (Details) - shares |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Common Stock, Shares, Outstanding [Roll Forward] | |||
Common stock, shares outstanding, beginning of period (shares) | 57,836,533 | ||
Common stock, shares outstanding, end of period (shares) | 55,532,307 | 57,836,533 | |
Class A Common Stock | |||
Common Stock, Shares, Outstanding [Roll Forward] | |||
Common stock, shares outstanding, beginning of period (shares) | 7,167,000 | 7,167,000 | |
Exercise of stock options/stock appreciation rights (shares) | 0 | 0 | 0 |
Director compensation arrangements, net (shares) | 0 | 0 | 0 |
Restricted/performance shares activity, net of forfeitures (shares) | 0 | 0 | 0 |
Acquisition/surrender of shares (shares) | 0 | 0 | 0 |
Share reclassification (in shares) | (7,167,000) | ||
Common stock, shares outstanding, end of period (shares) | 7,167,000 | ||
Class B Common Stock | |||
Common Stock, Shares, Outstanding [Roll Forward] | |||
Common stock, shares outstanding, beginning of period (shares) | 0 | 51,329,000 | 52,005,000 |
Exercise of stock options/stock appreciation rights (shares) | 0 | 29,000 | 155,000 |
Director compensation arrangements, net (shares) | 0 | 17,000 | 13,000 |
Restricted/performance shares activity, net of forfeitures (shares) | 0 | 122,000 | 136,000 |
Acquisition/surrender of shares (shares) | 0 | (708,000) | (980,000) |
Share reclassification (in shares) | (50,789,000) | ||
Common stock, shares outstanding, end of period (shares) | 0 | 0 | 51,329,000 |
Common Stock | |||
Common Stock, Shares, Outstanding [Roll Forward] | |||
Common stock, shares outstanding, beginning of period (shares) | 57,837,000 | 0 | 0 |
Exercise of stock options/stock appreciation rights (shares) | 78,000 | 0 | 0 |
Director compensation arrangements, net (shares) | 6,000 | 0 | 0 |
Restricted/performance shares activity, net of forfeitures (shares) | 98,000 | 0 | 0 |
Acquisition/surrender of shares (shares) | (2,487,000) | (119,000) | 0 |
Share reclassification (in shares) | 57,956,000 | ||
Common stock, shares outstanding, end of period (shares) | 55,532,000 | 57,837,000 | 0 |
X | ||||||||||
- Definition Common Stock, Shares, Outstanding [Roll Forward] No definition available.
|
X | ||||||||||
- Definition Reclassification of Common Stock, Shares No definition available.
|
X | ||||||||||
- Definition Number of shares issued during the period related to nonemployee director share-based compensation . No definition available.
|
X | ||||||||||
- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of shares of stock issued attributable to transactions classified as other. No definition available.
|
X | ||||||||||
- Definition Number of shares issued during the period related to Restricted Stock Awards, net of any shares forfeited. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of shares that have been repurchased during the period and are being held in treasury. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Capital Stock Reserved Common Stock (Details) - Common Stock shares in Thousands |
Dec. 31, 2016
shares
|
---|---|
Class of Stock [Line Items] | |
Future grant of stock-based compensation | 3,194 |
Shares reserved under other equity compensation plans | 165 |
TOTAL | 3,359 |
X | ||||||||||
- Definition The number of shares reserved for issuance pertaining to equity compensation plans other than stock options No definition available.
|
X | ||||||||||
- Definition The number of shares reserved for issuance pertaining to future grants of stock-based compensation No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Aggregate number of common shares reserved for future issuance. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
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Capital Stock Narrative (Details) |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Dec. 23, 2015
vote / shares
vote
$ / shares
|
Dec. 22, 2015
vote / shares
$ / shares
shares
|
Dec. 31, 2016
$ / shares
shares
|
Dec. 31, 2015
$ / shares
shares
|
Dec. 31, 2014
shares
|
Dec. 31, 2013
shares
|
|
Class of Stock [Line Items] | ||||||
Common stock, shares, outstanding (shares) | 55,532,307 | 57,836,533 | ||||
Common stock, par value (USD per share) | $ / shares | $ 0.01 | $ 0.01 | ||||
Voting rights, percentage | 36.00% | |||||
Class A Common Stock | ||||||
Class of Stock [Line Items] | ||||||
Common stock, shares, outstanding (shares) | 7,167,000 | 7,167,000 | ||||
Reclassification of stock, proposed premium per share (USD per share) | $ / shares | $ 28.00 | |||||
Common stock, voting rights (votes per share) | vote / shares | 20 | |||||
Class B Common Stock | ||||||
Class of Stock [Line Items] | ||||||
Common stock, shares, outstanding (shares) | 0 | 0 | 51,329,000 | 52,005,000 | ||
Common stock, par value (USD per share) | $ / shares | $ 0.01 | |||||
Common stock, voting rights (votes per share) | vote / shares | 1 | |||||
Common Stock | ||||||
Class of Stock [Line Items] | ||||||
Common stock, shares, outstanding (shares) | 55,532,000 | 57,837,000 | 0 | 0 | ||
Reclassification of stock, voting rights of proposed share class (vote) | vote | 1 | |||||
Common stock, voting rights (votes per share) | vote / shares | 1 | |||||
Louie E. Roche Trust and Harvey Hubbell Trust | Class A Common Stock | ||||||
Class of Stock [Line Items] | ||||||
Common stock, shares, outstanding (shares) | 3,488,460 | |||||
Common stock, par value (USD per share) | $ / shares | $ 0.01 | |||||
Ownership percentage, by shareholder | 49.00% |
X | ||||||||||
- Definition Common Stock, Ownership Percentage by Shareholder No definition available.
|
X | ||||||||||
- Definition Common Stock, Voting Rights, Number of Votes for Each Share No definition available.
|
X | ||||||||||
- Definition Common Stock, Voting Rights, Percentage No definition available.
|
X | ||||||||||
- Definition Reclassification Of Stock, Proposed Premium Per Share No definition available.
|
X | ||||||||||
- Definition Reclassification of Stock, Voting Rights of Proposed Share Class No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Face amount or stated value per share of common stock. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Stock-Based Compensation Narrative (Details) - USD ($) $ / shares in Units, $ in Millions |
1 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Feb. 16, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of additional shares authorized (shares) | 2,800,000.0 | |||
Maximum number of shares authorized (shares) | 9,700,000.0 | |||
Pre-tax stock-based compensation cost | $ 22.3 | $ 17.0 | $ 16.4 | |
Income tax benefits | 8.2 | 6.2 | 7.8 | |
Net tax windfall as a result of exercise or vesting of awards | 3.7 | 0.9 | 9.2 | |
Unrecognized compensation cost related to non-vested awards | 29.3 | |||
Capitalized to inventory | $ 0.2 | $ 0.2 | $ 0.2 | |
Shares issued to non-employee directors (shares) | 9,128 | 8,008 | 10,329 | |
Weighted average fair vale (USD per share) | $ 105.48 | $ 97.48 | $ 106.44 | |
Restricted Stock Units RSU | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award performance period | 3 years | |||
Award vesting percentage | 33.33% | 33.33% | 33.33% | |
Shares vested (shares) | 57,000 | |||
Vested in period total fair value | $ 6.4 | $ 7.7 | $ 7.0 | |
Weighted average fair vale (USD per share) | $ 109.95 | $ 96.26 | $ 105.35 | |
Shares granted (shares) | 87,000 | |||
Restricted Stock Units RSU | Subsequent Event | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares vested (shares) | 8,457 | |||
Vested in period total fair value | $ 0.9 | |||
Stock Appreciation Rights SARS | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Weighted average fair vale (USD per share) | $ 113.48 | |||
Award vesting period | 3 years | |||
Award, expiration period | 10 years | |||
SARS exercised intrinsic value | $ 13.8 | $ 4.8 | $ 19.4 | |
Shares granted (shares) | 382,000 | |||
Performance Shares - Market Condition | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award performance period | 3 years | |||
Weighted average fair vale (USD per share) | $ 126.65 | $ 105.77 | $ 117.55 | |
Shares granted (shares) | 29,012 | 32,687 | 28,871 | |
Performance Shares - Market Condition | Minimum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Performance based criteria plan payout percentage, market condition | 0.00% | |||
Performance Shares - Market Condition | Maximum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Performance based criteria plan payout percentage, market condition | 200.00% | |||
Performance Shares - Market Condition | Subsequent Event | December 2013 Grant | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Shares vested (shares) | 17,260 | |||
Vested in period total fair value | $ 2.2 | |||
Market based criteria, actual payout percentage | 64.00% | |||
Performance Shares - Performance Condition | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Award performance period | 3 years | |||
Shares granted (shares) | 29,012 | 32,687 | 28,871 | |
Performance share payout at target | 100.00% | |||
Performance Shares - Performance Condition | Minimum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Performance based criteria plan payout percentage | 0.00% | |||
Performance Shares - Performance Condition | Maximum | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Performance based criteria plan payout percentage | 250.00% | |||
Selling and administrative | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Pre-tax stock-based compensation cost | $ 21.6 | $ 16.2 | $ 15.7 | |
Cost of goods sold | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Pre-tax stock-based compensation cost | $ 0.7 | $ 0.8 | $ 0.7 |
X | ||||||||||
- Definition Excess Tax Benefit From Share-based Compensation, Net Windfall, Operating Activities No definition available.
|
X | ||||||||||
- Definition The actual payout percentage related to attainment of certain market based criteria under the performance share awards No definition available.
|
X | ||||||||||
- Definition Performance Based Criteria Plan Payout Percentage No definition available.
|
X | ||||||||||
- Definition Performance Based Criteria Plan Payout Percentage, Market Condition No definition available.
|
X | ||||||||||
- Definition he payout percentage range related to attainment at target of certain performance based criteria under the performance share awards No definition available.
|
X | ||||||||||
- Definition The total dollar difference between fair values of the underlying shares at exercise date and exercise prices assigned at grant date of SARS exercised during the period. No definition available.
|
X | ||||||||||
- Definition Share-based Compensation Arrangement by Share-based Payment Award, Award Performance Period No definition available.
|
X | ||||||||||
- Definition Represents the expense recognized during the period arising from equity-based compensation arrangements (for example, shares of stock, unit, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Represents the compensation cost capitalized during the period arising from equity-based compensation arrangements (for example, shares of stock, units, stock options or other equity instruments) with employees, directors and certain consultants qualifying for treatment as employees. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Unrecognized cost of unvested share-based compensation awards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The total recognized tax benefit related to compensation cost for equity-based payment arrangements recognized in income during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Period which an employee's right to exercise an award is no longer contingent on satisfaction of either a service condition, market condition or a performance condition, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Fair value of share-based awards for which the grantee gained the right by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Number of additional shares authorized for issuance under an established share-based compensation plan. No definition available.
|
X | ||||||||||
- Definition The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of shares or units of entity securities issued in the transaction in which equity securities were issued to pay for goods or nonemployee services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Percentage of vesting of share-based compensation awards. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Period from grant date that an equity-based award expires, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
|
Stock-Based Compensation Valuation Assumptions (Details) - $ / shares |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
Stock Price on Measurement Date (USD per share) | $ 113.69 | $ 97.48 | $ 106.44 |
Expected Volatility | 25.60% | 23.30% | 22.70% |
Risk Free Interest Rate | 1.40% | 1.30% | 1.00% |
Expected Term | 3 years | 3 years | 3 years |
Weighted Avg. Grant Date Fair Value (USD per share) | $ 104.93 | $ 87.61 | $ 95.96 |
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Price of a single share of a number of saleable stocks of a company. No definition available.
|
X | ||||||||||
- Definition Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Stock-Based Compensation Restricted Stock Option Activity (Details) - $ / shares shares in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Weighted Average Exercise Price (USD per share) | |||
OUTSTANDING AT DECEMBER 31, 2015 (USD per share) | $ 87.61 | $ 95.96 | |
Weighted average fair vale (USD per share) | 105.48 | 97.48 | $ 106.44 |
OUTSTANDING AT DECEMBER 31, 2016 (USD per Share) | $ 104.93 | $ 87.61 | 95.96 |
Restricted Stock Units RSU | |||
Number of Shares | |||
OUTSTANDING AT DECEMBER 31, 2015 (shares) | 199 | ||
Shares granted (shares) | 87 | ||
Shares vested (shares) | (57) | ||
Shares forfeited (shares) | (5) | ||
OUTSTANDING AT DECEMBER 31, 2016 (shares) | 224 | 199 | |
Weighted Average Exercise Price (USD per share) | |||
OUTSTANDING AT DECEMBER 31, 2015 (USD per share) | $ 102.22 | ||
Weighted average fair vale (USD per share) | 109.95 | $ 96.26 | $ 105.35 |
Shares vested (USD per share) | 104.20 | ||
Forfeited (USD per share) | 101.99 | ||
OUTSTANDING AT DECEMBER 31, 2016 (USD per Share) | $ 102.37 | $ 102.22 |
X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The weighted average fair value as of grant date pertaining to an equity-based award plan other than a stock (or unit) option plan for which the grantee gained the right during the reporting period, by satisfying service and performance requirements, to receive or retain shares or units, other instruments, or cash in accordance with the terms of the arrangement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Details
|
Stock-Based Compensation Stock Appreciation RIghts (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Weighted Average Exercise Price (USD per share) | |||
OUTSTANDING AT DECEMBER 31, 2015 (USD per share) | $ 87.61 | $ 95.96 | |
Weighted average fair vale (USD per share) | 105.48 | 97.48 | $ 106.44 |
OUTSTANDING AT DECEMBER 31, 2016 (USD per Share) | $ 104.93 | $ 87.61 | $ 95.96 |
Stock Appreciation Rights SARS | |||
Number of Rights | |||
OUTSTANDING AT DECEMBER 31, 2015 (shares) | 1,704 | ||
Shares granted (shares) | 382 | ||
Exercised (shares) | (270) | ||
Shares forfeited (shares) | (4) | ||
Canceled (shares) | (1) | ||
OUTSTANDING AT DECEMBER 31, 2016 (shares) | 1,811 | 1,704 | |
EXERCISABLE AT DECEMBER 31, 2016 (shares) | 1,108 | ||
Weighted Average Exercise Price (USD per share) | |||
OUTSTANDING AT DECEMBER 31, 2015 (USD per share) | $ 83.77 | ||
Weighted average fair vale (USD per share) | 113.48 | ||
Exercised (USD per share) | 53.50 | ||
Forfeited (USD per share) | 100.39 | ||
Canceled (USD per share) | 106.44 | ||
OUTSTANDING AT DECEMBER 31, 2016 (USD per Share) | 94.51 | $ 83.77 | |
Options, exercisable, weighted average exercise price (USD per share) | $ 86.35 | ||
Weighted average remaining contractual term, outstanding share | 7 years 4 months 24 days | ||
Weighted average remaining contractual term, exercisable | 6 years 2 months 12 days | ||
Aggregate intrinsic value, outstanding | $ 40,195 | ||
Aggregate intrinsic value, exercisable | $ 33,640 |
X | ||||||||||
- Definition Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Canceled, Weighted Average Grant Date Fair Value No definition available.
|
X | ||||||||||
- Definition Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Canceled in Period No definition available.
|
X | ||||||||||
- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that were forfeited during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average fair value as of the grant date of equity-based award plans other than stock (unit) option plans that were not exercised or put into effect as a result of the occurrence of a terminating event. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The weighted average fair value of nonvested awards on equity-based plans excluding option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, revenue or profit achievement stock award plan) for which the employer is contingently obligated to issue equity instruments or transfer assets to an employee who has not yet satisfied service or performance criteria necessary to gain title to proceeds from the sale of the award or underlying shares or units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average remaining contractual term for equity-based awards excluding options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of non-option equity instruments exercised by participants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition The weighted-average price as of the balance sheet date at which grantees can acquire the shares reserved for issuance on vested portions of options outstanding and currently exercisable under the stock option plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The number of exercisable share options (fully vested and expected to vest) that may be converted as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Weighted average price at which option holders acquired shares when converting their stock options into shares. No definition available.
|
X | ||||||||||
- Definition Intrinsic value of equity-based compensation awards outstanding. Excludes stock and unit options. No definition available.
|
X | ||||||||||
- Definition Amount of difference between fair value of the underlying shares reserved for issuance and exercise price of vested portions of options outstanding and currently exercisable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Weighted average remaining contractual term for vested portions of options outstanding and currently exercisable or convertible, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
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Stock-Based Compensation Fair Value Assumptions (Details) - $ / shares |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected Volatility | 25.60% | 23.30% | 22.70% |
Risk Free Interest Rate | 1.40% | 1.30% | 1.00% |
Expected Term | 3 years | 3 years | 3 years |
Stock Price on Measurement Date (USD per share) | $ 113.69 | $ 97.48 | $ 106.44 |
Weighted average fair vale (USD per share) | $ 105.48 | $ 97.48 | $ 106.44 |
Stock Appreciation Rights SARS | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected Dividend Yield | 2.60% | 2.70% | 2.00% |
Expected Volatility | 22.30% | 22.70% | 21.80% |
Risk Free Interest Rate | 1.90% | 1.70% | 1.60% |
Expected Term | 5 years 6 months | 5 years 6 months | 5 years 3 months 18 days |
Weighted Avg. Grant Date Fair Value of 1 SAR (USD per share) | $ 18.76 | $ 16.05 | $ 18.42 |
Weighted average fair vale (USD per share) | $ 113.48 | ||
Performance Shares - Market Condition | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected Dividend Yield | 2.50% | 2.60% | 2.10% |
Expected Volatility | 25.60% | 23.30% | 22.70% |
Risk Free Interest Rate | 1.40% | 1.30% | 1.00% |
Expected Term | 3 years | 3 years | 3 years |
Stock Price on Measurement Date (USD per share) | $ 113.69 | $ 97.48 | $ 106.44 |
Weighted average fair vale (USD per share) | $ 126.65 | $ 105.77 | $ 117.55 |
X | ||||||||||
- Definition The estimated fair value of one SAR at the grant date representing the per share difference between the estimated exercise price and the grant price. No definition available.
|
X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The risk-free interest rate assumption that is used in valuing an option on its own shares. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Price of a single share of a number of saleable stocks of a company. No definition available.
|
X | ||||||||||
- Definition Expected term of share-based compensation awards, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
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X | ||||||||||
- Details
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Stock-Based Compensation Performance Shares Granted During the Period (Details) - $ / shares |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Weighted average fair vale (USD per share) | $ 105.48 | $ 97.48 | $ 106.44 |
Performance Shares | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Shares outstanding (shares) | 29,012 | 31,553 | 24,008 |
Minimum | Performance Shares | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance based criteria plan payout percentage | 0.00% | 0.00% | 0.00% |
Maximum | Performance Shares | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Performance based criteria plan payout percentage | 250.00% | 250.00% | 250.00% |
X | ||||||||||
- Definition Performance Based Criteria Plan Payout Percentage No definition available.
|
X | ||||||||||
- Definition The weighted average fair value at grant date for nonvested equity-based awards issued during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Number of equity instruments other than options outstanding, including both vested and non-vested instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
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X | ||||||||||
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X | ||||||||||
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Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Earnings Per Share [Abstract] | |||||||||||
Net Income attributable to Hubbell | $ 64.4 | $ 86.7 | $ 81.0 | $ 60.9 | $ 61.5 | $ 73.3 | $ 80.1 | $ 62.4 | $ 293.0 | $ 277.3 | $ 325.3 |
Less: Earnings allocated to participating securities | (0.9) | (0.7) | (0.9) | ||||||||
Net income available to common shareholders | $ 292.1 | $ 276.6 | $ 324.4 | ||||||||
Average number of common shares outstanding | 55,500,000 | 57,700,000 | 58,800,000 | ||||||||
Potential dilutive shares | 200,000 | 300,000 | 400,000 | ||||||||
Average number of diluted shares outstanding (shares) | 55,700,000 | 58,000,000 | 59,200,000 | ||||||||
Basic (USD per share) | $ 1.16 | $ 1.56 | $ 1.46 | $ 1.08 | $ 1.06 | $ 1.27 | $ 1.39 | $ 1.07 | $ 5.26 | $ 4.79 | $ 5.51 |
Diluted (USD per share) | $ 1.16 | $ 1.56 | $ 1.45 | $ 1.08 | $ 1.06 | $ 1.27 | $ 1.37 | $ 1.07 | $ 5.24 | $ 4.77 | $ 5.48 |
Performance Shares | |||||||||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||||||||||
Shares granted (shares) | 58,418 | 30,482 |
X | ||||||||||
- Definition Net income available to common shareholders under two class EPS method after reducing Net income attributable to Hubbell by earnings allocated to participating securities No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of undistributed earnings (loss) allocated to participating securities for the basic earnings (loss) per share or per unit calculation under the two-class method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The sum of dilutive potential common shares or units used in the calculation of the diluted per-share or per-unit computation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
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Accumulated Other Comprehensive Loss Changes in Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning of period | $ 1,749.0 | ||
Other comprehensive (loss) income | (78.3) | $ (59.9) | $ (93.3) |
End of period | 1,603.2 | 1,749.0 | |
Cash Flow Hedge (Loss) Gain | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning of period | 1.4 | 0.0 | (0.2) |
Other comprehensive income (loss) before Reclassifications | (1.4) | 1.7 | 0.9 |
Amounts reclassified from accumulated other comprehensive loss | 0.0 | (0.3) | (0.7) |
Other comprehensive (loss) income | (1.4) | 1.4 | 0.2 |
End of period | 0.0 | 1.4 | 0.0 |
Unrealized Gain (Loss) on Available-for-Sale Securities | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning of period | 0.0 | 0.3 | 0.4 |
Other comprehensive income (loss) before Reclassifications | (1.2) | (0.3) | (0.1) |
Amounts reclassified from accumulated other comprehensive loss | 0.0 | 0.0 | 0.0 |
Other comprehensive (loss) income | (1.2) | (0.3) | (0.1) |
End of period | (1.2) | 0.0 | 0.3 |
Pension and Post Retirement Benefit Plan Adjustment | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning of period | (140.2) | (124.7) | (67.0) |
Other comprehensive income (loss) before Reclassifications | (48.5) | (22.5) | (59.8) |
Amounts reclassified from accumulated other comprehensive loss | 8.2 | 7.0 | 2.1 |
Other comprehensive (loss) income | (40.3) | (15.5) | (57.7) |
End of period | (180.5) | (140.2) | (124.7) |
Cumulative Translation Adjustment | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning of period | (85.4) | (39.9) | (4.2) |
Other comprehensive income (loss) before Reclassifications | (35.4) | (45.5) | (35.7) |
Amounts reclassified from accumulated other comprehensive loss | 0.0 | 0.0 | 0.0 |
Other comprehensive (loss) income | (35.4) | (45.5) | (35.7) |
End of period | (120.8) | (85.4) | (39.9) |
AOCI Attributable to Parent | |||
AOCI Attributable to Parent, Net of Tax [Roll Forward] | |||
Beginning of period | (224.2) | (164.3) | (71.0) |
Other comprehensive income (loss) before Reclassifications | (86.5) | (66.6) | (94.7) |
Amounts reclassified from accumulated other comprehensive loss | 8.2 | 6.7 | 1.4 |
Other comprehensive (loss) income | (78.3) | (59.9) | (93.3) |
End of period | $ (302.5) | $ (224.2) | $ (164.3) |
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Amount after tax, before reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax of reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
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X | ||||||||||
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X | ||||||||||
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Accumulated Other Comprehensive Loss Reclassifications Out of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Net sales | $ 854.2 | $ 907.4 | $ 908.8 | $ 834.8 | $ 829.7 | $ 877.0 | $ 874.0 | $ 809.7 | $ 3,505.2 | $ 3,390.4 | $ 3,359.4 |
Cost of goods sold | $ 595.6 | $ 618.7 | $ 615.3 | $ 574.9 | $ 562.8 | $ 587.0 | $ 590.9 | $ 557.9 | 2,404.5 | 2,298.6 | 2,250.4 |
Total before tax | 430.4 | 418.6 | 485.5 | ||||||||
Tax (expense) benefit | (132.6) | (136.5) | (158.3) | ||||||||
Accumulated Other Comprehensive Income (Loss) | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
(Loss) gain net of tax | (8.2) | (6.7) | (1.4) | ||||||||
Cash Flow Hedge (Loss) Gain | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
(Loss) gain net of tax | 0.0 | 0.3 | 0.7 | ||||||||
Pension and Post Retirement Benefit Plan Adjustment | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Reclassification from accumulated other comprehensive income, before tax | (13.0) | (11.2) | |||||||||
Tax benefit (expense) | 4.8 | 4.2 | |||||||||
(Loss) gain net of tax | (8.2) | (7.0) | $ (2.1) | ||||||||
Prior-service costs | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Reclassification from accumulated other comprehensive income, before tax | 0.9 | 0.8 | |||||||||
Actuarial gains/(losses) | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Reclassification from accumulated other comprehensive income, before tax | (13.9) | (12.0) | |||||||||
Forward Contracts | Cash Flow Hedge (Loss) Gain | Reclassification out of accumulated other comprehensive income | |||||||||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||||||||
Net sales | (0.3) | 0.0 | |||||||||
Cost of goods sold | 0.3 | 0.4 | |||||||||
Total before tax | 0.0 | 0.4 | |||||||||
Tax (expense) benefit | 0.0 | (0.1) | |||||||||
Gain (loss) net of tax | $ 0.0 | $ 0.3 |
X | ||||||||||
- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax of income (loss) from continuing operations including portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount before tax of reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount after tax of reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of tax expense (benefit) of reclassification adjustment from accumulated other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
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X | ||||||||||
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X | ||||||||||
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X | ||||||||||
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Industry Segments Information (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Net Sales: | |||||||||||
Net sales | $ 854.2 | $ 907.4 | $ 908.8 | $ 834.8 | $ 829.7 | $ 877.0 | $ 874.0 | $ 809.7 | $ 3,505.2 | $ 3,390.4 | $ 3,359.4 |
Operating Income: | |||||||||||
Operating Income | 477.8 | 474.6 | 517.4 | ||||||||
Interest expense | (43.4) | (31.0) | (31.2) | ||||||||
Income before income taxes | 430.4 | 418.6 | 485.5 | ||||||||
Assets: | |||||||||||
Assets | 3,525.0 | 3,208.7 | 3,525.0 | 3,208.7 | 3,320.1 | ||||||
Capital Expenditures: | |||||||||||
Capital expenditures | 67.2 | 77.1 | 60.3 | ||||||||
Depreciation and Amortization: | |||||||||||
Depreciation and amortization | 92.3 | 85.2 | 79.2 | ||||||||
Operating Segments | Electrical | |||||||||||
Net Sales: | |||||||||||
Net sales | 2,460.2 | 2,388.3 | 2,398.2 | ||||||||
Operating Income: | |||||||||||
Operating Income | 267.4 | 279.0 | 337.9 | ||||||||
Assets: | |||||||||||
Assets | 2,246.0 | 2,120.9 | 2,246.0 | 2,120.9 | 1,963.0 | ||||||
Capital Expenditures: | |||||||||||
Capital expenditures | 43.4 | 47.9 | 35.1 | ||||||||
Depreciation and Amortization: | |||||||||||
Depreciation and amortization | 61.2 | 56.2 | 53.4 | ||||||||
Operating Segments | Power | |||||||||||
Net Sales: | |||||||||||
Net sales | 1,045.0 | 1,002.1 | 961.2 | ||||||||
Operating Income: | |||||||||||
Operating Income | 210.4 | 195.6 | 179.5 | ||||||||
Assets: | |||||||||||
Assets | 911.5 | 839.7 | 911.5 | 839.7 | 832.0 | ||||||
Capital Expenditures: | |||||||||||
Capital expenditures | 22.7 | 28.4 | 21.8 | ||||||||
Depreciation and Amortization: | |||||||||||
Depreciation and amortization | 31.1 | 29.0 | 25.8 | ||||||||
Segment Reconciling Items | |||||||||||
Operating Income: | |||||||||||
Interest expense | (43.4) | (31.0) | (31.2) | ||||||||
Investment income and other expense, net | (4.0) | (25.0) | (0.7) | ||||||||
General Corporate, non-segment | |||||||||||
Assets: | |||||||||||
Assets | $ 367.5 | $ 248.1 | 367.5 | 248.1 | 525.1 | ||||||
Capital Expenditures: | |||||||||||
Capital expenditures | $ 1.1 | $ 0.8 | $ 3.4 |
X | ||||||||||
- Definition This item represents investment income derived from investments in debt and equity securities consisting of interest income earned from investments in debt securities and on cash and cash equivalents, dividend income from investments in equity securities, and income or expense derived from the amortization of investment related discounts or premiums, respectively, net of related investment expenses. This item also includes amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. No definition available.
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X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition The cash outflow for purchases of and capital improvements on property, plant and equipment (capital expenditures), software, and other intangible assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
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X | ||||||||||
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Product Class Data (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Net Sales: | |||||||||||
Net sales | $ 854.2 | $ 907.4 | $ 908.8 | $ 834.8 | $ 829.7 | $ 877.0 | $ 874.0 | $ 809.7 | $ 3,505.2 | $ 3,390.4 | $ 3,359.4 |
Electrical Systems | |||||||||||
Net Sales: | |||||||||||
Net sales | 1,514.4 | 1,476.7 | 1,538.7 | ||||||||
Lighting | |||||||||||
Net Sales: | |||||||||||
Net sales | 945.8 | 911.6 | 859.5 | ||||||||
Power | |||||||||||
Net Sales: | |||||||||||
Net sales | $ 1,045.0 | $ 1,002.1 | $ 961.2 |
X | ||||||||||
- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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Industry Segments and Geographic Area Information Geographic Area (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Net Sales: | |||||||||||
Net sales | $ 854.2 | $ 907.4 | $ 908.8 | $ 834.8 | $ 829.7 | $ 877.0 | $ 874.0 | $ 809.7 | $ 3,505.2 | $ 3,390.4 | $ 3,359.4 |
Operating Income: | |||||||||||
Operating Income | 477.8 | 474.6 | 517.4 | ||||||||
Long-lived Assets: | |||||||||||
Long-Lived Assets | 1,963.0 | 1,814.8 | 1,963.0 | 1,814.8 | 1,692.2 | ||||||
Operating Segments | United States | |||||||||||
Net Sales: | |||||||||||
Net sales | 3,147.4 | 3,008.4 | 2,883.8 | ||||||||
Operating Income: | |||||||||||
Operating Income | 419.1 | 426.1 | 447.2 | ||||||||
Long-lived Assets: | |||||||||||
Long-Lived Assets | 1,762.9 | 1,627.7 | 1,762.9 | 1,627.7 | 1,492.5 | ||||||
Operating Segments | International | |||||||||||
Net Sales: | |||||||||||
Net sales | 357.8 | 382.0 | 475.6 | ||||||||
Operating Income: | |||||||||||
Operating Income | 58.7 | 48.5 | 70.2 | ||||||||
Long-lived Assets: | |||||||||||
Long-Lived Assets | $ 200.1 | $ 187.1 | $ 200.1 | $ 187.1 | $ 199.7 |
X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Long-lived assets other than financial instruments, long-term customer relationships of a financial institution, mortgage and other servicing rights, deferred policy acquisition costs, and deferred tax assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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X | ||||||||||
- References No definition available.
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X | ||||||||||
- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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Industry Segments and Geographic Area Information Narrative (Details) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016
USD ($)
group
|
Dec. 31, 2015
USD ($)
|
Dec. 31, 2014
USD ($)
|
|
Concentration Risk [Line Items] | |||
Export sales from United States | $ | $ 213.8 | $ 224.9 | $ 234.5 |
Net Sales Total | Geographic Concentration Risk | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 10.00% | 11.00% | 14.00% |
Long-lived assets Total | Geographic Concentration Risk | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 10.00% | 10.00% | 12.00% |
Canada | International Net Sales | Geographic Concentration Risk | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 33.00% | ||
Canada | International Long-lived assets | Geographic Concentration Risk | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 17.00% | ||
United Kingdom | International Net Sales | Geographic Concentration Risk | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 21.00% | ||
United Kingdom | International Long-lived assets | Geographic Concentration Risk | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 25.00% | ||
SWITZERLAND | International Net Sales | Geographic Concentration Risk | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 12.00% | ||
BRAZIL | International Net Sales | Geographic Concentration Risk | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 10.00% | ||
MEXICO | International Net Sales | Geographic Concentration Risk | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 9.00% | ||
MEXICO | International Long-lived assets | Geographic Concentration Risk | |||
Concentration Risk [Line Items] | |||
Concentration risk, percentage | 22.00% | ||
Electrical | |||
Concentration Risk [Line Items] | |||
Number Of business groups | group | 3 |
X | ||||||||||
- Definition Total net sales derived from export sales from the United States. No definition available.
|
X | ||||||||||
- Definition Number Of Business Groups No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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X | ||||||||||
- Definition For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Guarantees (Details) - USD ($) $ in Millions |
12 Months Ended | |
---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
|
Movement in Standard Product Warranty Accrual [Roll Forward] | ||
Beginning balance | $ 13.2 | $ 13.7 |
Provision | 9.7 | 10.0 |
Expenditures/other | (9.1) | (10.5) |
Ending balance | $ 13.8 | $ 13.2 |
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred through that date and payable for estimated claims under standard and extended warranty protection rights granted to customers. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of decrease in the standard and extended product warranty accrual from payments made in cash or in kind to satisfy claims under the terms of the standard and extended product warranty. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of increase in the standard and extended product warranty accrual from warranties issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Restructuring Costs - By Segment (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Restructuring Cost and Reserve [Line Items] | |||
Pre-tax restructuring costs | $ 35.0 | $ 23.6 | $ 5.1 |
Cost of goods sold | |||
Restructuring Cost and Reserve [Line Items] | |||
Pre-tax restructuring costs | 27.5 | 15.3 | 3.4 |
Selling & administrative expense | |||
Restructuring Cost and Reserve [Line Items] | |||
Pre-tax restructuring costs | 7.5 | 8.3 | 1.7 |
Operating Segments | Electrical | |||
Restructuring Cost and Reserve [Line Items] | |||
Pre-tax restructuring costs | 33.9 | 21.7 | 5.1 |
Operating Segments | Electrical | Cost of goods sold | |||
Restructuring Cost and Reserve [Line Items] | |||
Pre-tax restructuring costs | 27.3 | 14.5 | 3.4 |
Operating Segments | Electrical | Selling & administrative expense | |||
Restructuring Cost and Reserve [Line Items] | |||
Pre-tax restructuring costs | 6.6 | 7.2 | $ 1.7 |
Operating Segments | Power | |||
Restructuring Cost and Reserve [Line Items] | |||
Pre-tax restructuring costs | 1.1 | 1.9 | |
Operating Segments | Power | Cost of goods sold | |||
Restructuring Cost and Reserve [Line Items] | |||
Pre-tax restructuring costs | 0.2 | 0.8 | |
Operating Segments | Power | Selling & administrative expense | |||
Restructuring Cost and Reserve [Line Items] | |||
Pre-tax restructuring costs | $ 0.9 | $ 1.1 |
X | ||||||||||
- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
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Restructuring Costs - Reserve (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Restructuring Reserve [Roll Forward] | ||||
Beginning accrued restructuring balance 1/1/16 | $ 7.8 | |||
Pre-tax restructuring costs | 35.0 | $ 23.6 | $ 5.1 | |
Utilization and foreign exchange | (18.3) | |||
Ending accrued restructuring balance 12/31/2016 | $ 24.5 | 24.5 | 7.8 | |
2016 Restructuring Actions | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning accrued restructuring balance 1/1/16 | 0.0 | |||
Pre-tax restructuring costs | 31.8 | |||
Utilization and foreign exchange | (8.5) | |||
Ending accrued restructuring balance 12/31/2016 | 23.3 | 23.3 | 0.0 | |
2015 Restructuring Actions | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning accrued restructuring balance 1/1/16 | 7.8 | |||
Pre-tax restructuring costs | 3.2 | |||
Utilization and foreign exchange | (9.8) | |||
Ending accrued restructuring balance 12/31/2016 | 1.2 | 1.2 | 7.8 | |
Severance | 2016 Restructuring Actions | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning accrued restructuring balance 1/1/16 | 0.0 | |||
Pre-tax restructuring costs | 13.8 | |||
Utilization and foreign exchange | (4.4) | |||
Ending accrued restructuring balance 12/31/2016 | 9.4 | 9.4 | 0.0 | |
Severance | 2015 Restructuring Actions | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning accrued restructuring balance 1/1/16 | 7.4 | |||
Pre-tax restructuring costs | 0.6 | |||
Utilization and foreign exchange | (7.0) | |||
Ending accrued restructuring balance 12/31/2016 | 1.0 | 1.0 | 7.4 | |
Asset write-downs | 2016 Restructuring Actions | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning accrued restructuring balance 1/1/16 | 0.0 | |||
Pre-tax restructuring costs | 2.9 | |||
Utilization and foreign exchange | (2.9) | |||
Ending accrued restructuring balance 12/31/2016 | 0.0 | 0.0 | 0.0 | |
Asset write-downs | 2015 Restructuring Actions | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning accrued restructuring balance 1/1/16 | 0.0 | |||
Pre-tax restructuring costs | 0.1 | |||
Utilization and foreign exchange | (0.1) | |||
Ending accrued restructuring balance 12/31/2016 | 0.0 | 0.0 | 0.0 | |
Facility closure and other costs | 2016 Restructuring Actions | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning accrued restructuring balance 1/1/16 | 0.0 | |||
Pre-tax restructuring costs | 15.1 | |||
Utilization and foreign exchange | (1.2) | |||
Ending accrued restructuring balance 12/31/2016 | 13.9 | 13.9 | 0.0 | |
Facility closure and other costs | 2015 Restructuring Actions | ||||
Restructuring Reserve [Roll Forward] | ||||
Beginning accrued restructuring balance 1/1/16 | 0.4 | |||
Pre-tax restructuring costs | 2.5 | |||
Utilization and foreign exchange | (2.7) | |||
Ending accrued restructuring balance 12/31/2016 | 0.2 | 0.2 | $ 0.4 | |
Withdrawal from Multiemployer Defined Benefit Plan | ||||
Restructuring Reserve [Roll Forward] | ||||
Pre-tax restructuring costs | $ 12.5 | |||
Withdrawal from Multiemployer Defined Benefit Plan | 2016 Restructuring Actions | ||||
Restructuring Reserve [Roll Forward] | ||||
Pre-tax restructuring costs | $ 12.5 |
X | ||||||||||
- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Carrying amount (including both current and noncurrent portions of the accrual) as of the balance sheet date pertaining to a specified type of cost associated with exit from or disposal of business activities or restructuring pursuant to a duly authorized plan. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Amount of increase (decrease) in the restructuring reserve related to foreign currency translation (gain) loss and other increases (decreases). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Restructuring Costs - Summary of Costs (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Restructuring Cost and Reserve [Line Items] | |||
Expected Costs | $ 75.9 | ||
Cost incurred to date | 35.0 | $ 23.6 | $ 5.1 |
Remaining costs at 12/31/16 | 12.2 | ||
2016 Restructuring Actions | |||
Restructuring Cost and Reserve [Line Items] | |||
Expected Costs | 41.5 | ||
Cost incurred to date | 31.8 | 0.0 | |
Remaining costs at 12/31/16 | 9.7 | ||
2015 Restructuring Actions | |||
Restructuring Cost and Reserve [Line Items] | |||
Expected Costs | 24.9 | ||
Cost incurred to date | 3.2 | 19.2 | |
Remaining costs at 12/31/16 | 2.5 | ||
2014 Restructuring Actions | |||
Restructuring Cost and Reserve [Line Items] | |||
Expected Costs | 9.5 | ||
Cost incurred to date | 4.4 | 5.1 | |
Operating Segments | Electrical | 2016 Restructuring Actions | |||
Restructuring Cost and Reserve [Line Items] | |||
Expected Costs | 40.3 | ||
Cost incurred to date | 30.7 | 0.0 | |
Remaining costs at 12/31/16 | 9.6 | ||
Operating Segments | Electrical | 2015 Restructuring Actions | |||
Restructuring Cost and Reserve [Line Items] | |||
Expected Costs | 23.0 | ||
Cost incurred to date | 3.2 | 17.3 | |
Remaining costs at 12/31/16 | 2.5 | ||
Operating Segments | Electrical | 2014 Restructuring Actions | |||
Restructuring Cost and Reserve [Line Items] | |||
Expected Costs | 9.5 | ||
Cost incurred to date | 4.4 | $ 5.1 | |
Operating Segments | Power | 2016 Restructuring Actions | |||
Restructuring Cost and Reserve [Line Items] | |||
Expected Costs | 1.2 | ||
Cost incurred to date | 1.1 | 0.0 | |
Remaining costs at 12/31/16 | 0.1 | ||
Operating Segments | Power | 2015 Restructuring Actions | |||
Restructuring Cost and Reserve [Line Items] | |||
Expected Costs | 1.9 | ||
Cost incurred to date | 0.0 | $ 1.9 | |
Remaining costs at 12/31/16 | $ 0.0 |
X | ||||||||||
- Definition Amount expected to be recognized in earnings for the specified restructuring cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition Amount of expected cost remaining for the specified restructuring cost. No definition available.
|
X | ||||||||||
- Definition Discloses the amount charged against the accrued restructuring reserves, or earnings if not previously accrued, during the period for the specified type of restructuring cost. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Restructuring Costs Narrative (Details) - USD ($) $ in Millions |
3 Months Ended | 12 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Defined Benefit Plan Disclosure [Line Items] | ||||
Pre-tax restructuring costs | $ 35.0 | $ 23.6 | $ 5.1 | |
Accrued liability settlement term | 19 years | |||
Withdrawal from Multiemployer Defined Benefit Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Pre-tax restructuring costs | $ 12.5 | |||
2016 Restructuring Actions | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Pre-tax restructuring costs | $ 31.8 | |||
2016 Restructuring Actions | Withdrawal from Multiemployer Defined Benefit Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Pre-tax restructuring costs | 12.5 | |||
Electrical | 2016 Restructuring Actions | Withdrawal from Multiemployer Defined Benefit Plan | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Pre-tax restructuring costs | $ 12.5 |
X | ||||||||||
- Definition Multiemployer Plans, Withdrawal Obligation, Settlement Term No definition available.
|
X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
X | ||||||||||
- Definition Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions |
3 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2016 |
Sep. 30, 2016 |
Jun. 30, 2016 |
Mar. 31, 2016 |
Dec. 31, 2015 |
Sep. 30, 2015 |
Jun. 30, 2015 |
Mar. 31, 2015 |
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Quarterly Financial Information Disclosure [Abstract] | |||||||||||
Net sales | $ 854.2 | $ 907.4 | $ 908.8 | $ 834.8 | $ 829.7 | $ 877.0 | $ 874.0 | $ 809.7 | $ 3,505.2 | $ 3,390.4 | $ 3,359.4 |
Cost of goods sold | 595.6 | 618.7 | 615.3 | 574.9 | 562.8 | 587.0 | 590.9 | 557.9 | 2,404.5 | 2,298.6 | 2,250.4 |
Gross profit | 258.6 | 288.7 | 293.5 | 259.9 | 266.9 | 290.0 | 283.1 | 251.8 | 1,100.7 | 1,091.8 | 1,109.0 |
Selling & administrative expenses | 150.8 | 152.7 | 161.4 | 158.0 | 155.0 | 159.0 | 156.4 | 146.8 | 622.9 | 617.2 | 591.6 |
Net income | 65.7 | 88.1 | 82.0 | 62.0 | 62.7 | 74.7 | 81.3 | 63.4 | 297.8 | 282.1 | 327.2 |
Net Income attributable to Hubbell | $ 64.4 | $ 86.7 | $ 81.0 | $ 60.9 | $ 61.5 | $ 73.3 | $ 80.1 | $ 62.4 | $ 293.0 | $ 277.3 | $ 325.3 |
Earning Per Share - Basic (USD per share) | $ 1.16 | $ 1.56 | $ 1.46 | $ 1.08 | $ 1.06 | $ 1.27 | $ 1.39 | $ 1.07 | $ 5.26 | $ 4.79 | $ 5.51 |
Earning Per Share - Diluted (USD per share) | $ 1.16 | $ 1.56 | $ 1.45 | $ 1.08 | $ 1.06 | $ 1.27 | $ 1.37 | $ 1.07 | $ 5.24 | $ 4.77 | $ 5.48 |
X | ||||||||||
- Definition The aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Valuation and Qualifying Accounts and Reserves (Details) - USD ($) $ in Millions |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
Dec. 31, 2014 |
|
Allowances for doubtful accounts receivable: | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Year | $ 4.7 | $ 3.4 | $ 2.1 |
Additions / (Reversals) Charged to Costs and Expenses | 0.8 | 2.7 | 1.6 |
Deductions | (0.8) | (1.4) | (0.3) |
Acquisitions | 0.0 | 0.0 | 0.0 |
Balance at End of Year | 4.7 | 4.7 | 3.4 |
Allowance for credit memos, returns and cash discounts: | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Year | 41.5 | 36.7 | 31.6 |
Additions / (Reversals) Charged to Costs and Expenses | 249.2 | 233.2 | 222.4 |
Deductions | (244.8) | (228.4) | (217.3) |
Acquisitions | 0.0 | 0.0 | 0.0 |
Balance at End of Year | 45.9 | 41.5 | 36.7 |
Valuation allowance on deferred tax assets: | |||
Movement in Valuation Allowances and Reserves [Roll Forward] | |||
Balance at Beginning of Year | 22.0 | 34.3 | 28.5 |
Additions / (Reversals) Charged to Costs and Expenses | 0.6 | (12.3) | 4.5 |
Deductions | 0.0 | 0.0 | 0.0 |
Acquisitions | 0.0 | 0.0 | 1.3 |
Balance at End of Year | $ 22.6 | $ 22.0 | $ 34.3 |
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Amount of increase (decrease) in the allowances and reserves, which consist of the valuation and qualifying accounts that are either netted against the cost of an asset or that reflect a liability established to represent expected future costs, from adjustments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of the deductions in a given period to allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs, representing receivables written off as uncollectible and portions of the reserves utilized, respectively. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Total of allowances and reserves, the valuation and qualifying accounts that are either netted against the cost of an asset (in order to value it at its carrying value) or that reflect a liability established to represent expected future costs, acquired in a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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