Allegion plc Files 10-Q for Q2 2024

TL;DR

Allegion's Q2 10-Q is in: check financials for notes due 2029 and segment performance.

AI Summary

Allegion plc filed its 10-Q for the period ending June 30, 2024, reporting on its financial performance. The filing details various financial instruments and segments, including "ThreePointFivePercentSeniorNotesDue2029Member" and "BossDorcasUnicelAndKriegerMember," indicating ongoing business operations and financial commitments.

Why It Matters

This 10-Q filing provides investors and stakeholders with an update on Allegion's financial health and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: medium — The filing contains details about financial instruments and segments, which can carry inherent risks that are not fully elaborated in this summary.

Key Players & Entities

• Allegion plc (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240724 (date) — Filing date
• ThreePointFivePercentSeniorNotesDue2029Member (financial_instrument) — Mentioned financial obligation
• BossDorcasUnicelAndKriegerMember (business_segment) — Mentioned business segment

FAQ

Key Financial Figures

• $0.01 — registered Ordinary shares, par value $0.01 per share ALLE New York Stock Exchange

Filing Documents

• alle-20240630.htm (10-Q) — 1275KB
• ex22-subsidiaryguarantorsa.htm (EX-22) — 6KB
• alle-10qx06302024xex311.htm (EX-31.1) — 11KB
• alle-10qx06302024xex312.htm (EX-31.2) — 11KB
• alle-10qx06302024xex321.htm (EX-32.1) — 5KB
• alle-20240630_g1.jpg (GRAPHIC) — 112KB
• 0001579241-24-000045.txt ( ) — 7502KB
• alle-20240630.xsd (EX-101.SCH) — 44KB
• alle-20240630_cal.xml (EX-101.CAL) — 55KB
• alle-20240630_def.xml (EX-101.DEF) — 208KB
• alle-20240630_lab.xml (EX-101.LAB) — 462KB
• alle-20240630_pre.xml (EX-101.PRE) — 364KB
• alle-20240630_htm.xml (XML) — 1386KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1

- Financial Statements

Item 1 - Financial Statements 1 Condensed and Consolidated Statements of Comprehensive Income for the three and six months ended June 30, 2024 and 2023 (Unaudited) 1 Condensed and Consolidated Balance Sheets at June 30, 2024 and December 31, 2023 (Unaudited) 2 Condensed and Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 (Unaudited) 3 Notes to Condensed and Consolidated Financial Statements (Unaudited) 4

- Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations 17

- Quantitative and Qualitative Disclosures about Market Risk

Item 3 - Quantitative and Qualitative Disclosures about Market Risk 28

- Controls and Procedures

Item 4 - Controls and Procedures 28

- OTHER INFORMATION

PART II - OTHER INFORMATION 30

- Legal Proceedings

Item 1 - Legal Proceedings 30

- Risk Factors

Item 1A - Risk Factors 30

- Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities

Item 2 - Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 30

- Other Information

Item 5 - Other Information 30

- Exhibits

Item 6 - Exhibits 31

SIGNATURES

SIGNATURES 32 Table of Contents

-FINANCIAL INFORMATION

PART I-FINANCIAL INFORMATION

– Financial Statements

Item 1 – Financial Statements Allegion plc Condensed and Consolidated Statements of Comprehensive Income (Unaudited) Three months ended Six months ended June 30, June 30, In millions, except per share amounts 2024 2023 2024 2023 Net revenues $ 965.6 $ 912.5 $ 1,859.5 $ 1,835.5 Cost of goods sold 537.3 510.6 1,039.8 1,042.6 Selling and administrative expenses 219.3 217.3 438.6 437.3 Operating income 209.0 184.6 381.1 355.6 Interest expense 25.1 23.7 48.0 47.3 Other income, net ( 5.1 ) ( 1.6 ) ( 8.8 ) ( 1.9 ) Earnings before income taxes 189.0 162.5 341.9 310.2 Provision for income taxes 33.6 20.5 62.7 44.6 Net earnings 155.4 142.0 279.2 265.6 Less: Net earnings attributable to noncontrolling interests — — — 0.1 Net earnings attributable to Allegion plc $ 155.4 $ 142.0 $ 279.2 $ 265.5 Earnings per share attributable to Allegion plc ordinary shareholders: Basic net earnings $ 1.78 $ 1.62 $ 3.19 $ 3.02 Diluted net earnings $ 1.77 $ 1.61 $ 3.18 $ 3.01 Weighted-average shares outstanding: Basic 87.3 87.9 87.5 88.0 Diluted 87.7 88.3 87.9 88.3 Total comprehensive income $ 150.3 $ 149.9 $ 250.1 $ 283.8 Less: Total comprehensive loss attributable to noncontrolling interests — ( 0.9 ) — ( 0.7 ) Total comprehensive income attributable to Allegion plc $ 150.3 $ 150.8 $ 250.1 $ 284.5 See accompanying notes to condensed and consolidated financial statements. 1 Table of Contents Allegion plc Condensed and Consolidated Balance Sheets (Unaudited) In millions, except share amounts June 30, 2024 December 31, 2023 ASSETS Current assets: Cash and cash equivalents $ 747.5 $ 468.1 Accounts and notes receivable, net 474.1 412.8 Inventories 444.6 438.5 Other current assets 49.6 41.5 Total current assets 1,715.8 1,360.9 Property, plant and equipment, net 370.5 358.1 Goodwill 1,488.3 1,443.1 Intangible assets, net 609.8 572.8 Other noncurrent assets 594.7 576.6 Total assets $ 4,779.1 $ 4,311.5 LIABILITIES AND EQUITY Current liabilities: A

View Full Filing

View this 10-Q filing on SEC EDGAR