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Other intangible assets, net of accumulated amortization

^[1]

1,518.0

1,519.9

744.9

752.9

Other assets

47.1

43.5

Total assets

4,106.8

4,178.1

Current liabilities

Notes payable to banks

9.7

6.0

Accounts payable

319.8

343.8

Other current liabilities

237.4

388.9

Total current liabilities

566.9

738.7

Long-term debt

475.0

350.0

Deferred income taxes

247.7

245.8

Other non-current liabilities

177.2

190.5

Total liabilities

1,466.8

1,525.0

Commitments and contingencies (see Note 16)

Home & Security stockholders' equity

Common stock

^[2]

1.7

Paid-in capital

2,462.4

2,431.3

Accumulated other comprehensive income

87.8

95.4

Retained earnings

241.8

200.8

Treasury stock

(156.5)

(79.8)

Total Home & Security stockholders' equity

2,637.2

2,649.4

Noncontrolling interests

2.8

3.7

Total equity

2,640.0

2,653.1

Total liabilities and equity

$ 4,106.8

$ 4,178.1

[1]	Net of accumulated impairment losses of $541.4 million ($451.3 million in the Advanced Material Windows & Door Systems segment and $90.1 million in the Security & Storage segment).
[2]	Common stock, par value $0.01 per share; 170.2 million shares and 169.1 million shares issued at March 31, 2014 and December 31, 2013, respectively.

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares shares in Millions	Mar. 31, 2014	Dec. 31, 2013
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares issued	170.2	169.1

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Operating activities
Net income	$ 41.2	$ 37.5
Non-cash pre-tax expense (income):
Depreciation	19.5	19.4
Amortization	4.0	2.6
Stock-based compensation	7.8	6.5
Recognition of actuarial losses	0.6	4.6
Deferred income taxes	11.7	7.0
Restructuring charges	1.8
Changes in assets and liabilities:
Increase in accounts receivable	(7.7)	(48.3)
Increase in inventories	(39.4)	(23.0)
(Decrease) increase in accounts payable	(22.5)	17.7
(Increase) decrease in other assets	(24.4)	7.6
Decrease in accrued expenses and other liabilities	(149.9)	(103.6)
Increase (decrease) in accrued taxes	0.7	(0.5)
Net cash used in operating activities	(156.6)	(72.5)
Investing activities
Capital expenditures	(21.0)	(14.4)
Proceeds from the disposition of assets	0.1	0.2
Net cash used in investing activities	(20.9)	(14.2)
Financing activities
Increase in short-term debt, net	3.5	0.8
Issuance of long-term debt	185.0
Repayment of long-term debt	(60.0)
Proceeds from the exercise of stock options	8.2	16.9
Treasury stock purchases	(68.7)	(13.5)
Excess tax benefit from the exercise of stock-based compensation	15.0	6.8
Dividends to stockholders	(19.9)
Other financing, net	(1.1)	(1.1)
Net cash provided by financing activities	62.0	9.9
Effect of foreign exchange rate changes on cash	(1.7)	(0.3)
Net decrease in cash and cash equivalents	(117.2)	(77.1)
Cash and cash equivalents at beginning of period	241.4	336.0
Cash and cash equivalents at end of period	$ 124.2	$ 258.9

Condensed Consolidated Statements of Equity - USD ($) $ in Millions	Total	Common Stock	Paid-In Capital	Accumulated Other Comprehensive Income	Retained Earnings	Treasury Stock	Non- controlling Interests
Beginning Balance at Dec. 31, 2012	$ 2,384.7	$ 1.6	$ 2,324.8	$ 30.6	$ 41.0	$ (16.9)	$ 3.6
Comprehensive income:
Net income	37.5				37.3		0.2
Other comprehensive income	27.1			27.1
Stock options exercised	16.9		16.9
Stock-based compensation	2.4		6.3			(3.9)
Tax benefit on exercise of stock options	6.8		6.8
Treasury stock purchase	(13.1)					(13.1)
Dividends paid to noncontrolling interests	(1.1)						(1.1)
Ending Balance at Mar. 31, 2013	2,461.2	1.6	2,354.8	57.7	78.3	(33.9)	2.7
Beginning Balance at Dec. 31, 2013	2,653.1	1.7	2,431.3	95.4	200.8	(79.8)	3.7
Comprehensive income:
Net income	41.2				40.8		0.4
Other comprehensive income	(7.8)			(7.6)			(0.2)
Stock options exercised	8.2		8.2
Stock-based compensation	(0.3)		7.7			(8.0)
Tax benefit on exercise of stock options	15.2		15.2
Treasury stock purchase	(68.7)					(68.7)
Other	0.2				0.2
Dividends paid to noncontrolling interests	(1.1)						(1.1)
Ending Balance at Mar. 31, 2014	$ 2,640.0	$ 1.7	$ 2,462.4	$ 87.8	$ 241.8	$ (156.5)	$ 2.8

Basis of Presentation and Principles of Consolidation

3 Months Ended

Mar. 31, 2014

Basis of Presentation and Principles of Consolidation

1.	Basis of Presentation and Principles of Consolidation

References to “Home & Security,” “the Company,” “we,” “our” and “us” refer to Fortune Brands Home & Security, Inc. and its consolidated subsidiaries as a whole, unless the context otherwise requires.

The Company is a leading home and security products company with a portfolio of leading branded products used for residential home repair, remodeling, new construction, security applications and storage.

The condensed consolidated balance sheet as of March 31, 2014, the related condensed consolidated statements of comprehensive income for the three-month periods ended March 31, 2014 and 2013 and the related condensed consolidated statements of cash flows and equity for the three-month periods ended March 31, 2014 and 2013 are unaudited. In the opinion of management, all adjustments necessary for a fair statement of the financial statements have been included. Interim results may not be indicative of results for a full year.

The condensed consolidated financial statements and notes are presented pursuant to the rules and regulations of the Securities and Exchange Commission and do not contain certain information included in our annual consolidated financial statements and notes. The year-end condensed consolidated balance sheet was derived from the audited financial statements, but does not include all disclosures required by U.S. generally accepted accounting principles (“GAAP”). This Quarterly Report on Form 10-Q should be read in conjunction with the audited consolidated financial statements and notes included in our Annual Report on Form 10-K for the year ended December 31, 2013.

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Recently Issued Accounting Standards

Recently Issued Accounting Standards

3 Months Ended

Mar. 31, 2014

2.	Recently Issued Accounting Standards

Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity

In April 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-08, “Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.” This standard changes the definition of discontinued operations and requires expanded disclosures. The amendment is effective for annual periods beginning on or after December 15, 2014 (calendar 2015 for Home & Security). Early adoption is permitted. We do not expect this standard to have a material effect on our financial statements.

The entire disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Glossary Change in Accounting Principle
-URI http://asc.fasb.org/extlink&oid=6507316

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-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=6510796

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-Name Regulation S-X (SX)
-Number 210
-Section 01
-Paragraph b
-Subparagraph 6
-Article 10

Balance Sheet Information

Balance Sheet Information

3 Months Ended

Mar. 31, 2014

3.	Balance Sheet Information

Supplemental information on our balance sheets is as follows:


(In millions)	March 31, 2014		December 31, 2013
Inventories:
Raw materials and supplies	$	200.5	$	184.6
Work in process		55.6		52.5
Finished products		253.4		234.5

Total inventories	$	509.5	$	471.6

Property, plant and equipment, gross	$	1,538.8	$	1,556.1
Less: accumulated depreciation		1,006.7		1,021.7

Property, plant and equipment, net	$	532.1	$	534.4

Acquisition

3 Months Ended

Mar. 31, 2014

Acquisition

4.	Acquisition

In June 2013, our Kitchen & Bath Cabinetry business acquired 100% of the voting equity of Woodcrafters Home Products Holding, LLC (“WoodCrafters”), a manufacturer of bathroom vanities and tops for a purchase price of approximately $302 million. We paid the purchase price using a combination of cash on hand and borrowings under our existing credit facilities. This acquisition greatly expanded our offerings of bathroom cabinetry products. Net sales and operating income of WoodCrafters in the first quarter of 2014 were approximately $50 million and $5 million, respectively.

The following table summarizes the preliminary allocation of the purchase price to estimated fair values of assets acquired and liabilities assumed as of the date of the acquisition. This allocation may change after asset and liability valuations are finalized.


(In millions)
Accounts receivable	$	41.4
Inventories		25.7
Property, plant and equipment		29.6
Goodwill		142.7
Identifiable intangible assets		89.4
Other assets		8.3

Total assets		337.1
Other liabilities and accruals		35.1

Net assets acquired	$	302.0

Goodwill primarily represents expected supply chain synergies. Identifiable intangible assets primarily consisted of customer relationships ($75.9 million) and technology ($9.6 million). The useful lives of these identifiable intangible assets are 18 years and 10 years, respectively.

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).

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Goodwill and Identifiable Intangible Assets

Goodwill and Identifiable Intangible Assets

3 Months Ended

Mar. 31, 2014

5.	Goodwill and Identifiable Intangible Assets

We had goodwill of $1,518.0 million as of March 31, 2014. The change in the net carrying amount of goodwill by segment was as follows:


(In millions)	Kitchen & Bath Cabinetry			Plumbing & Accessories		Advanced Material Windows & Door Systems		Security & Storage			Total Goodwill
Goodwill at December 31, 2013 ^(a)	$	631.7		$	569.7	$	229.1	$	89.4		$	1,519.9
Year-to-date translation adjustments		(1.5	)		—		—		(0.8	)		(2.3	)
Acquisition-related adjustments		0.4			—		—		—			0.4

Goodwill at March 31, 2014 ^(a)	$	630.6		$	569.7	$	229.1	$	88.6		$	1,518.0

^(a)

Net of accumulated impairment losses of $541.4 million ($451.3 million in the Advanced Material Windows & Door Systems segment and $90.1 million in the Security & Storage segment).

Amortizable identifiable intangible assets, principally tradenames and customer relationships, are subject to amortization over their estimated useful life, 5 to 30 years, based on the assessment of a number of factors that may impact useful life. These factors include historical and tradename performance with respect to consumer name recognition, geographic market presence, market share, plans for ongoing tradename support and promotion, and other relevant factors.

The gross carrying value and accumulated amortization by class of intangible assets as of March 31, 2014 and December 31, 2013 were as follows:


	As of March 31, 2014							As of December 31, 2013
	Gross					Net		Gross					Net
	Carrying		Accumulated			Book		Carrying		Accumulated			Book
(In millions)	Amounts		Amortization			Value		Amounts		Amortization			Value
Indefinite-lived tradenames	$	593.6	$	(42.0	)^(a)	$	551.6	$	597.2	$	(42.0	)^(a)	$	555.2
Amortizable intangible assets
Tradenames		19.3		(7.5	)		11.8		19.6		(7.4	)		12.2
Customer and contractual relationships		346.8		(184.2	)		162.6		348.6		(182.5	)		166.1
Patents/proprietary technology		63.4		(44.5	)		18.9		63.2		(43.8	)		19.4

Total		429.5		(236.2	)		193.3		431.4		(233.7	)		197.7

Total identifiable intangibles	$	1,023.1	$	(278.2	)	$	744.9	$	1,028.6	$	(275.7	)	$	752.9

^(a)

Accumulated amortization prior to the adoption of revised Accounting Standards Codification (“ASC”) requirements for Intangibles – Goodwill and Other Assets.

In the first quarter of 2014, no events or circumstances occurred that would have required us to perform interim impairment tests of goodwill or indefinite-lived intangible assets. As of December 31, 2013, the fair value of each of our reporting units except for one of the reporting units in the Advanced Material Doors & Windows segment exceeded the carrying value by a substantial margin. The estimated excess fair value of this reporting unit was less than 10%. In addition, for one of the tradenames within this reporting unit, fair value exceeded its carrying value by less than 10%. Accordingly, a reduction in the estimated fair value of this reporting unit or tradename could trigger an impairment. As of March 31, 2014, the book value of the goodwill of this reporting unit and this tradename was $86.1 million and $58.4 million, respectively.

The events and/or circumstances that could have a potential negative effect on the estimated fair value of our reporting units and indefinite-lived tradenames include: actual new construction and repair and remodel growth rates that lag our assumptions, actions of key customers, volatility of discount rates, continued economic uncertainty, higher levels of unemployment, weak consumer confidence, and lower levels of discretionary consumer spending. In addition, future decisions we could make with regard to acquisitions and divestitures could trigger a requirement to measure certain assets as held for sale with the resulting change in measurement standard potentially triggering impairments. While our cash flow projections used to assess impairment of our goodwill and other intangible assets held for use are influenced by a number of variables, they are most significantly influenced by our projection for the continued recovery of the U.S. home products markets in the next three years and our ability to execute on various planned cost reduction initiatives supporting operating income improvements forecasted to occur over the next three years. We evaluate our projection of the U.S. home products market periodically and in connection with our annual operating plans finalized in the fourth quarter of each year. The U.S. home products market is highly dependent on U.S. new home construction and the rate of spending on repair and remodel activities. Our projection for the U.S. home products markets is inherently subject to a number of uncertain factors, such as employment, home prices, credit availability, and the rate of home foreclosures. Significant changes in these and other factors could cause us to change our cash flow projections in future periods which could trigger impairment of goodwill or indefinite-lived intangible assets in the period in which such changes occur.

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.

External Debt and Financing Arrangements

External Debt and Financing Arrangements

3 Months Ended

Mar. 31, 2014

6.	External Debt and Financing Arrangements

We have a $650 million committed revolving credit facility, as well as a $350 million term loan, both of which expire in July 2018. On March 31, 2014 and December 31, 2013, our outstanding borrowings under these facilities were $475.0 million and $350.0 million, respectively. The interest rates under these facilities are variable based on LIBOR at the time of the borrowing and the Company’s leverage as measured by a debt to Adjusted EBITDA ratio. Based upon the Company’s debt to Adjusted EBITDA ratio at March 31, 2014, the Company’s borrowing rate could range from LIBOR + 1.0% to LIBOR + 2.0%. As of March 31, 2014, we were in compliance with all covenants under these facilities.

At March 31, 2014 and December 31, 2013, there were $9.7 million and $6.0 million of external short-term borrowings outstanding, respectively, comprised of notes payable to banks that are used for general corporate purposes. These amounts pertained to uncommitted bank lines of credit in China and India, which provide for unsecured borrowings for working capital of up to $22.7 million in aggregate, as of March 31, 2014 and December 31, 2013. The weighted-average interest rates on these borrowings were 9.8% and 12.1% in the three-month periods ended March 31, 2014 and 2013, respectively.

Financial Instruments

3 Months Ended

Mar. 31, 2014

Financial Instruments

7.	Financial Instruments

We do not enter into financial instruments for trading or speculative purposes. We principally use financial instruments to reduce the impact of changes in foreign currency exchange rates and commodities used as raw materials in our products. The principal derivative financial instruments we enter into on a routine basis are foreign exchange contracts. Derivative financial instruments are recorded at fair value. The counterparties to derivative contracts are major financial institutions. Management currently believes that the risk of incurring material losses is unlikely and that the losses, if any, would be immaterial to the Company. In addition, from time to time, we enter into commodity swaps.

Our primary foreign currency hedge contracts pertain to the Canadian dollar, the Chinese yuan and the Mexican peso. The gross U.S. dollar equivalent notional amount of all foreign currency derivative hedges outstanding at March 31, 2014 was $201.9 million, representing a net settlement receivable of $1.2 million. Based on foreign exchange rates as of March 31, 2014, we estimate that $0.1 million of net foreign currency derivative gains included in other comprehensive income as of March 31, 2014 will be reclassified to earnings within the next twelve months.

The fair values of derivative instruments on the consolidated balance sheets as of March 31, 2014 and December 31, 2013 were:


		Fair Value
(In millions)	Location	March 31, 2014		December 31, 2013
Assets
Foreign exchange contracts	Other current assets	$	1.9	$	2.1
Net investment hedges	Other current assets		0.6		0.6

	Total assets	$	2.5	$	2.7
Liabilities
Foreign exchange contracts	Other current liabilities	$	1.3	$	0.3

The effects of derivative financial instruments on the statements of comprehensive income for the three months ended March 31, 2014 and 2013 were:


		Gain (Loss) Recognized in Income
(In millions) Type of hedge	Location	March 31, 2014		March 31, 2013
Cash flow	Cost of products sold	$	0.7	$	0.4
Fair value	Other income, net		0.9		(0.2	)

Total		$	1.6	$	0.2

The effective portion of cash flow hedges recognized in other comprehensive income were net (losses) gains of $(0.4) million and $1.6 million at March 31, 2014 and 2013, respectively. In the three months ended March 31, 2014 and 2013, the ineffective portion of cash flow hedges recognized in other income, net, was insignificant.

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

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Fair Value Measurements

3 Months Ended

Mar. 31, 2014

Fair Value Measurements

8.	Fair Value Measurements

Assets and liabilities measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013 were as follows:


	Fair Value
(In millions)	March 31, 2014		December 31, 2013
Assets
Derivative financial instruments (level 2)	$	2.5	$	2.7
Deferred compensation program assets (level 1)		3.1		3.5

Total assets	$	5.6	$	6.2
Liabilities
Derivative financial instruments (level 2)	$	1.3	$	0.3

The principal derivative financial instruments we enter into on a routine basis are foreign exchange contracts. In addition, from time to time, we enter into commodity swaps. Derivative financial instruments are recorded at fair value.

ASC requirements for Fair Value Measurements and Disclosures establish a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels. Level 1 inputs, the highest priority, are quoted prices in active markets for identical assets or liabilities. Level 2 inputs reflect inputs other than quoted prices included in Level 1 that are either observable directly or through corroboration with observable market data. Level 3 inputs are unobservable inputs, due to little or no market activity for the asset or liability, such as internally-developed valuation models. We do not have any assets or liabilities measured at fair value on a recurring basis that are Level 3.

The carrying value of the Company’s long-term debt as of March 31, 2014 and December 31, 2013 of $475.0 million and $350.0 million, respectively, approximated fair value. The fair value of the Company’s long-term debt was determined primarily by using broker quotes, which are level 2 inputs.

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.

Information on Business Segments

Defined Benefit Plans

3 Months Ended

Mar. 31, 2014

Defined Benefit Plans

9.	Defined Benefit Plans

The components of net periodic benefit cost for pension and postretirement benefits for the three months ended March 31, 2014 and 2013 were as follows:


	Three Months Ended March 31,
	Pension Benefits						Postretirement Benefits
(In millions)	2014			2013			2014			2013
Service cost	$	2.7		$	3.2		$	—		$	0.1
Interest cost		8.2			7.5			0.2			0.6
Expected return on plan assets		(10.6	)		(10.3	)		—			—
Recognition of prior service credits		—			—			(10.6	)		(7.0	)
Recognition of actuarial losses		—			—			0.6			4.6

Net periodic benefit cost	$	0.3		$	0.4		$	(9.8	)	$	(1.7	)

In the first quarter of 2014, we communicated our decision to amend certain postretirement benefits to reduce health benefits for certain current and retired employees. The impact of these changes was a reduction in accrued retiree benefit plan liabilities of $14.7 million and we recorded actuarial losses of $0.6 million and prior service credits of $3.7 million. In the first quarter of 2013, we communicated our decision to amend certain postretirement benefit plans to reduce health benefits for certain current and retired employees and as a result we recognized actuarial losses of $4.6 million in the first quarter of 2013. Liability reductions from these plan amendments are recorded as amortization of prior service cost in net income in accordance with accounting requirements. See Note 15, “Accumulated Other Comprehensive Income,” for information on the impact on accumulated other comprehensive income.

Income Taxes

3 Months Ended

Mar. 31, 2014

Income Taxes

10.

Income Taxes

The effective income tax rates for the three months ended March 31, 2014 and 2013 were 32.1% and 31.9%, respectively. The effective tax rate in 2014 was favorably impacted by the tax benefit associated with the anticipated year-over-year increase of the Domestic Production Activity (Internal Revenue Code Section 199) deduction. The effective tax rate in 2013 was favorably impacted by the tax benefit associated with the extension of the U.S. research and development credit under the American Taxpayer Relief Act of 2012.

It is reasonably possible that, within the next 12 months, total unrecognized tax benefits may decrease in the range of $2 million to $3 million, primarily as a result of the conclusion of pending U.S. federal, state and foreign income tax proceedings.

Product Warranties

3 Months Ended

Mar. 31, 2014

Product Warranties

11.

Product Warranties

We generally record warranty expense at the time of sale. We offer our customers various warranty terms based on the type of product that is sold. Warranty expense is determined based on historic claim experience and the nature of the product category. The following table summarizes activity related to our product warranty liability for the three months ended March 31, 2014 and 2013, respectively.


	Three Months Ended March 31,
(In millions)	2014			2013
Reserve balance at January 1,	$	15.2		$	14.3
Provision for warranties issued		5.2			3.9
Settlements made (in cash or in kind)		(5.3	)		(4.2	)

Reserve balance at March 31,	$	15.1		$	14.0

Information on Business Segments

3 Months Ended

Mar. 31, 2014

12.

Information on Business Segments

Net sales and operating income for the three months ended March 31, 2014 and 2013 by segment were as follows:


	Three Months Ended March 31,
(In millions)	2014			2013			% Change vs. Prior Year
Net Sales
Kitchen & Bath Cabinetry	$	410.9		$	345.3			19.0	%
Plumbing & Accessories		309.9			308.9			0.3
Advanced Material Windows & Door Systems		130.0			124.2			4.7
Security & Storage		115.4			111.6			3.4

Net sales	$	966.2		$	890.0			8.6	%
Operating Income (Loss)
Kitchen & Bath Cabinetry	$	19.9		$	14.3			39.2	%
Plumbing & Accessories		55.3			55.0			0.5
Advanced Material Windows & Door Systems		(7.7	)		(8.5	)		9.4
Security & Storage		9.8			12.3			(20.3	)
Less: Corporate expenses		(15.2	)		(16.5	)		7.9

Operating income	$	62.1		$	56.6			9.7	%
Corporate expenses
General and administrative expense	$	(16.9	)	$	(14.3	)
Defined benefit plan costs		1.7			(2.2	)

Total Corporate expenses	$	(15.2	)	$	(16.5	)		7.9	%

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.

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Restructuring and Other Charges

Restructuring and Other Charges

3 Months Ended

Mar. 31, 2014

13.

Restructuring and Other Charges

Pre-tax restructuring and other charges for the three months ended March 31, 2014 and 2013 are shown below.


	Three Months Ended March 31, 2014
(In millions)	Restructuring Charges		Other Charges^(a)		Total Charges
Kitchen & Bath Cabinetry	$	0.1	$	—	$	0.1
Plumbing & Accessories		0.1		—		0.1
Security & Storage		2.1		0.1		2.2

Total	$	2.3	$	0.1	$	2.4


	Three Months Ended March 31, 2013
(In millions)	Restructuring Charges		Other Charges^(a)		Total Charges
Kitchen & Bath Cabinetry	$	0.3	$	0.3	$	0.6
Advanced Material Windows & Door Systems		0.6		—		0.6

Total	$	0.9	$	0.3	$	1.2

^(a)

“Other Charges” represent charges directly related to restructuring initiatives that cannot be reported as restructuring under U.S. GAAP. Such costs may include losses on disposal of inventories, trade receivables allowances from exiting product lines, accelerated depreciation resulting from the closure of facilities and gains or losses on the sale of previously closed facilities.

Restructuring and other charges in the first quarter of 2014 resulted from product line rationalization in the storage product line within our Security & Storage segment. The Company’s restructuring liability was not material as of March 31, 2014 and December 31, 2013.

Earnings Per Share

3 Months Ended

Mar. 31, 2014

Earnings Per Share

14.

Earnings Per Share

The computations of earnings per common share were as follows:


	Three Months Ended March 31,
(In millions, except per share data)	2014		2013
Net income attributable to Home & Security	$	40.8	$	37.3

Basic earnings per common share	$	0.25	$	0.23
Diluted earnings per common share	$	0.24	$	0.22

Basic average shares outstanding		166.2		164.3
Stock-based awards		5.0		6.0

Diluted average shares outstanding		171.2		170.3

Antidilutive stock-based awards excluded from weighted-average number of shares outstanding for diluted earnings per share		0.2		0.7

Accumulated Other Comprehensive Income

3 Months Ended

Mar. 31, 2014

Accumulated Other Comprehensive Income

15.

Accumulated Other Comprehensive Income

Total accumulated other comprehensive income consists of net income and other changes in business equity from transactions and other events from sources other than shareholders. It includes currency translation gains and losses, unrealized gains and losses from derivative instruments designated as cash flow hedges, and defined benefit plan adjustments. The components of and changes in accumulated other comprehensive income, net of tax, were as follows:


(In millions)	Foreign Currency Adjustments			Derivative Hedging Gains			Defined Benefit Plan Adjustments			Accumulated Other Comprehensive Income
Balance at December 31, 2013	$	53.3		$	0.9		$	41.2		$	95.4
Amounts classified into accumulated other comprehensive income		(9.8	)		(0.2	)		9.2	^(a)		(0.8	)
Amounts reclassified from accumulated other comprehensive income		—			(0.6	)		(6.2	)		(6.8	)

Net current-period other comprehensive income		(9.8	)		(0.8	)		3.0			(7.6	)

Balance at March 31, 2014	$	43.5		$	0.1		$	44.2		$	87.8

^(a)

See Note 9, “Defined Benefit Plans,” for further information on the adjustments related to defined benefit plans.

The reclassifications out of accumulated other comprehensive income for the three months ended March 31, 2014 and 2013 were as follows:


(In millions)
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income Three Months Ended March 31,						Affected Line Item in the Statement of Comprehensive Income
	2014			2013
Gains on cash flow hedges
Foreign exchange contracts	$	0.7		$	0.4		Cost of products sold
		(0.1	)		(0.1	)	Tax expense

	$	0.6		$	0.3		Net of tax
Defined benefit plan items
Recognition of prior service cost	$	10.6		$	7.0		^(a)
Recognition of actuarial losses		(0.6	)		(4.6	)	^(a)

		10.0			2.4		Total before tax
		(3.8	)		(1.1	)	Tax expense

	$	6.2		$	1.3		Net of tax

Total reclassifications for the period	$	6.8		$	1.6		Net of tax

^(a)

These accumulated other comprehensive income components are included in the computation of net periodic benefit cost. Refer to Note 9, “Defined Benefit Plans,” for additional information.

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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e689-108580

Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
-Topic 505
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-Paragraph 1
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Reclassification Adjustments
-URI http://asc.fasb.org/extlink&oid=6522872

Contingencies

3 Months Ended

Mar. 31, 2014

Contingencies

16.

Contingencies

Litigation

We are defendants in lawsuits associated with the normal conduct of our businesses and operations. It is not possible to predict the outcome of the pending actions, and, as with any litigation, it is possible that these actions could be decided unfavorably to the Company. The Company believes that there are meritorious defenses to these actions and that these actions will not have a material adverse effect upon our results of operations, cash flows or financial condition, and where appropriate, these actions are being vigorously contested.

Environmental

Compliance with federal, state and local laws regulating the discharge of materials into the environment, or otherwise relating to the protection of the environment, did not have a material effect on capital expenditures, earnings or the competitive position of Home & Security during the three months ended March 31, 2014 and 2013. We are involved in remediation activities to clean up hazardous wastes as required by federal and state laws. Liabilities for remediation costs of each site are based on our best estimate of undiscounted future costs, excluding possible insurance recoveries or recoveries from other third parties. Uncertainties about the status of laws, regulations, technology and information related to individual sites make it difficult to develop estimates of environmental remediation exposures.

The entire disclosure for loss and gain contingencies. Describes any existing condition, situation, or set of circumstances involving uncertainty as of the balance sheet date (or prior to issuance of the financial statements) as to a probable or reasonably possible loss incurred by an entity that will ultimately be resolved when one or more future events occur or fail to occur, and typically discloses the amount of loss recorded or a range of possible loss, or an assertion that no reasonable estimate can be made.

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 450
-SubTopic 20
-Section 50
-Paragraph 6
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Supplemental Information on Balance Sheets

Balance Sheet Information (Tables)

3 Months Ended

Mar. 31, 2014

Supplemental information on our balance sheets is as follows:


(In millions)	March 31, 2014		December 31, 2013
Inventories:
Raw materials and supplies	$	200.5	$	184.6
Work in process		55.6		52.5
Finished products		253.4		234.5

Total inventories	$	509.5	$	471.6

Property, plant and equipment, gross	$	1,538.8	$	1,556.1
Less: accumulated depreciation		1,006.7		1,021.7

Property, plant and equipment, net	$	532.1	$	534.4

Acquisition (Tables)

3 Months Ended

Mar. 31, 2014

Preliminary Allocation of Purchase Price to Estimated Fair Values of Assets Acquired and Liabilities Assumed


(In millions)
Accounts receivable	$	41.4
Inventories		25.7
Property, plant and equipment		29.6
Goodwill		142.7
Identifiable intangible assets		89.4
Other assets		8.3

Total assets		337.1
Other liabilities and accruals		35.1

Net assets acquired	$	302.0

Goodwill and Identifiable Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2014

Change in Net Carrying Amount of Goodwill by Segment

The change in the net carrying amount of goodwill by segment was as follows:


(In millions)	Kitchen & Bath Cabinetry			Plumbing & Accessories		Advanced Material Windows & Door Systems		Security & Storage			Total Goodwill
Goodwill at December 31, 2013 ^(a)	$	631.7		$	569.7	$	229.1	$	89.4		$	1,519.9
Year-to-date translation adjustments		(1.5	)		—		—		(0.8	)		(2.3	)
Acquisition-related adjustments		0.4			—		—		—			0.4

Goodwill at March 31, 2014 ^(a)	$	630.6		$	569.7	$	229.1	$	88.6		$	1,518.0

^(a)

Net of accumulated impairment losses of $541.4 million ($451.3 million in the Advanced Material Windows & Door Systems segment and $90.1 million in the Security & Storage segment).

Gross Carrying Value and Accumulated Amortization by Class of Intangible Assets

The gross carrying value and accumulated amortization by class of intangible assets as of March 31, 2014 and December 31, 2013 were as follows:


	As of March 31, 2014							As of December 31, 2013
	Gross					Net		Gross					Net
	Carrying		Accumulated			Book		Carrying		Accumulated			Book
(In millions)	Amounts		Amortization			Value		Amounts		Amortization			Value
Indefinite-lived tradenames	$	593.6	$	(42.0	)^(a)	$	551.6	$	597.2	$	(42.0	)^(a)	$	555.2
Amortizable intangible assets
Tradenames		19.3		(7.5	)		11.8		19.6		(7.4	)		12.2
Customer and contractual relationships		346.8		(184.2	)		162.6		348.6		(182.5	)		166.1
Patents/proprietary technology		63.4		(44.5	)		18.9		63.2		(43.8	)		19.4

Total		429.5		(236.2	)		193.3		431.4		(233.7	)		197.7

Total identifiable intangibles	$	1,023.1	$	(278.2	)	$	744.9	$	1,028.6	$	(275.7	)	$	752.9

^(a)

Accumulated amortization prior to the adoption of revised Accounting Standards Codification (“ASC”) requirements for Intangibles – Goodwill and Other Assets.

Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2014

Fair Values of Derivative Instruments

The fair values of derivative instruments on the consolidated balance sheets as of March 31, 2014 and December 31, 2013 were:


		Fair Value
(In millions)	Location	March 31, 2014		December 31, 2013
Assets
Foreign exchange contracts	Other current assets	$	1.9	$	2.1
Net investment hedges	Other current assets		0.6		0.6

	Total assets	$	2.5	$	2.7
Liabilities
Foreign exchange contracts	Other current liabilities	$	1.3	$	0.3

Effects of Derivative Financial Instruments on Statements of Comprehensive Income

The effects of derivative financial instruments on the statements of comprehensive income for the three months ended March 31, 2014 and 2013 were:


		Gain (Loss) Recognized in Income
(In millions) Type of hedge	Location	March 31, 2014		March 31, 2013
Cash flow	Cost of products sold	$	0.7	$	0.4
Fair value	Other income, net		0.9		(0.2	)

Total		$	1.6	$	0.2

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of March 31, 2014 and December 31, 2013 were as follows:


	Fair Value
(In millions)	March 31, 2014		December 31, 2013
Assets
Derivative financial instruments (level 2)	$	2.5	$	2.7
Deferred compensation program assets (level 1)		3.1		3.5

Total assets	$	5.6	$	6.2
Liabilities
Derivative financial instruments (level 2)	$	1.3	$	0.3

Defined Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2014

Components of Net Periodic Benefit Cost for Pension and Postretirement Benefits

The components of net periodic benefit cost for pension and postretirement benefits for the three months ended March 31, 2014 and 2013 were as follows:


	Three Months Ended March 31,
	Pension Benefits						Postretirement Benefits
(In millions)	2014			2013			2014			2013
Service cost	$	2.7		$	3.2		$	—		$	0.1
Interest cost		8.2			7.5			0.2			0.6
Expected return on plan assets		(10.6	)		(10.3	)		—			—
Recognition of prior service credits		—			—			(10.6	)		(7.0	)
Recognition of actuarial losses		—			—			0.6			4.6

Net periodic benefit cost	$	0.3		$	0.4		$	(9.8	)	$	(1.7	)

Product Warranties (Tables)

3 Months Ended

Mar. 31, 2014

The following table summarizes activity related to our product warranty liability for the three months ended March 31, 2014 and 2013, respectively.


	Three Months Ended March 31,
(In millions)	2014			2013
Reserve balance at January 1,	$	15.2		$	14.3
Provision for warranties issued		5.2			3.9
Settlements made (in cash or in kind)		(5.3	)		(4.2	)

Reserve balance at March 31,	$	15.1		$	14.0

Information on Business Segments (Tables)

3 Months Ended

Mar. 31, 2014

Net Sales and Operating Income by Segment

Net sales and operating income for the three months ended March 31, 2014 and 2013 by segment were as follows:


	Three Months Ended March 31,
(In millions)	2014			2013			% Change vs. Prior Year
Net Sales
Kitchen & Bath Cabinetry	$	410.9		$	345.3			19.0	%
Plumbing & Accessories		309.9			308.9			0.3
Advanced Material Windows & Door Systems		130.0			124.2			4.7
Security & Storage		115.4			111.6			3.4

Net sales	$	966.2		$	890.0			8.6	%
Operating Income (Loss)
Kitchen & Bath Cabinetry	$	19.9		$	14.3			39.2	%
Plumbing & Accessories		55.3			55.0			0.5
Advanced Material Windows & Door Systems		(7.7	)		(8.5	)		9.4
Security & Storage		9.8			12.3			(20.3	)
Less: Corporate expenses		(15.2	)		(16.5	)		7.9

Operating income	$	62.1		$	56.6			9.7	%
Corporate expenses
General and administrative expense	$	(16.9	)	$	(14.3	)
Defined benefit plan costs		1.7			(2.2	)

Total Corporate expenses	$	(15.2	)	$	(16.5	)		7.9	%

Restructuring and Other Charges (Tables)

3 Months Ended

Mar. 31, 2014

Pre-tax restructuring and Other Charges

Pre-tax restructuring and other charges for the three months ended March 31, 2014 and 2013 are shown below.


	Three Months Ended March 31, 2014
(In millions)	Restructuring Charges		Other Charges^(a)		Total Charges
Kitchen & Bath Cabinetry	$	0.1	$	—	$	0.1
Plumbing & Accessories		0.1		—		0.1
Security & Storage		2.1		0.1		2.2

Total	$	2.3	$	0.1	$	2.4


	Three Months Ended March 31, 2013
(In millions)	Restructuring Charges		Other Charges^(a)		Total Charges
Kitchen & Bath Cabinetry	$	0.3	$	0.3	$	0.6
Advanced Material Windows & Door Systems		0.6		—		0.6

Total	$	0.9	$	0.3	$	1.2

^(a)

Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2014

Computations of Earnings per Common Share

The computations of earnings per common share were as follows:


	Three Months Ended March 31,
(In millions, except per share data)	2014		2013
Net income attributable to Home & Security	$	40.8	$	37.3

Basic earnings per common share	$	0.25	$	0.23
Diluted earnings per common share	$	0.24	$	0.22

Basic average shares outstanding		166.2		164.3
Stock-based awards		5.0		6.0

Diluted average shares outstanding		171.2		170.3

Antidilutive stock-based awards excluded from weighted-average number of shares outstanding for diluted earnings per share		0.2		0.7

Accumulated Other Comprehensive Income (Tables)

3 Months Ended

Mar. 31, 2014

Components of and Changes in Accumulated Other Comprehensive Income

The components of and changes in accumulated other comprehensive income, net of tax, were as follows:


(In millions)	Foreign Currency Adjustments			Derivative Hedging Gains			Defined Benefit Plan Adjustments			Accumulated Other Comprehensive Income
Balance at December 31, 2013	$	53.3		$	0.9		$	41.2		$	95.4
Amounts classified into accumulated other comprehensive income		(9.8	)		(0.2	)		9.2	^(a)		(0.8	)
Amounts reclassified from accumulated other comprehensive income		—			(0.6	)		(6.2	)		(6.8	)

Net current-period other comprehensive income		(9.8	)		(0.8	)		3.0			(7.6	)

Balance at March 31, 2014	$	43.5		$	0.1		$	44.2		$	87.8

^(a)

See Note 9, “Defined Benefit Plans,” for further information on the adjustments related to defined benefit plans.

Reclassifications Out of Accumulated Other Comprehensive Income

The reclassifications out of accumulated other comprehensive income for the three months ended March 31, 2014 and 2013 were as follows:


(In millions)
Details about Accumulated Other Comprehensive Income Components	Amount Reclassified from Accumulated Other Comprehensive Income Three Months Ended March 31,						Affected Line Item in the Statement of Comprehensive Income
	2014			2013
Gains on cash flow hedges
Foreign exchange contracts	$	0.7		$	0.4		Cost of products sold
		(0.1	)		(0.1	)	Tax expense

	$	0.6		$	0.3		Net of tax
Defined benefit plan items
Recognition of prior service cost	$	10.6		$	7.0		^(a)
Recognition of actuarial losses		(0.6	)		(4.6	)	^(a)

		10.0			2.4		Total before tax
		(3.8	)		(1.1	)	Tax expense

	$	6.2		$	1.3		Net of tax

Total reclassifications for the period	$	6.8		$	1.6		Net of tax

^(a)

These accumulated other comprehensive income components are included in the computation of net periodic benefit cost. Refer to Note 9, “Defined Benefit Plans,” for additional information.

Supplemental Information on Balance Sheets (Detail) - USD ($) $ in Millions	Mar. 31, 2014	Dec. 31, 2013
Inventories:
Raw materials and supplies	$ 200.5	$ 184.6
Work in process	55.6	52.5
Finished products	253.4	234.5
Total inventories	509.5	471.6
Property, plant and equipment, gross	1,538.8	1,556.1
Less: accumulated depreciation	1,006.7	1,021.7
Property, plant and equipment, net	$ 532.1	$ 534.4

Acquisitions - Additional Information (Detail) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jun. 30, 2013	Mar. 31, 2014	Mar. 31, 2013
Business Acquisition [Line Items]
Net sales		$ 966.2	$ 890.0
Operating income (Loss)		62.1	$ 56.6
WoodCrafters Home Products, LLC
Business Acquisition [Line Items]
Percentage of ownership acquired	100.00%
Business acquisition purchase price	$ 302.0
Net sales		50.0
Operating income (Loss)		$ 5.0
WoodCrafters Home Products, LLC \| Customer Relationships
Business Acquisition [Line Items]
Identifiable intangible assets	$ 75.9
Amortizable identifiable intangible assets, estimated useful life	18 years
WoodCrafters Home Products, LLC \| Technology
Business Acquisition [Line Items]
Identifiable intangible assets	$ 9.6
Amortizable identifiable intangible assets, estimated useful life	10 years

Preliminary Allocation of Purchase Price to Estimated Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($)
$ in Millions

Mar. 31, 2014

Dec. 31, 2013

Jun. 30, 2013

Business Acquisition [Line Items]

WoodCrafters Home Products, LLC

^[1]

$ 1,518.0

$ 1,519.9

Business Acquisition [Line Items]

Accounts receivable

$ 41.4

Inventories

25.7

Property, plant and equipment

29.6

Identifiable intangible assets

142.7

89.4

Other assets

8.3

Total assets

337.1

Other liabilities and accruals

35.1

Net assets acquired

$ 302.0

[1]	Net of accumulated impairment losses of $541.4 million ($451.3 million in the Advanced Material Windows & Door Systems segment and $90.1 million in the Security & Storage segment).

Goodwill and Other Identifiable Intangible Assets - Additional Information (Detail) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2014

Dec. 31, 2013

Market recovery projection period

^[1]

$ 1,518.0

$ 1,519.9

3 years

Tradenames

Indefinite-lived tradenames

$ 58.4

Advanced Material Windows and Door Systems

Advanced Material Windows and Door Systems | Reporting Unit One

^[1]

229.1

$ 229.1

Minimum | Tradenames And Customer Relationship

$ 86.1

Amortizable identifiable intangible assets, estimated useful life

5 years

Maximum | Tradenames And Customer Relationship

Amortizable identifiable intangible assets, estimated useful life

30 years

Maximum | Advanced Material Windows and Door Systems

Percentage of estimated excess fair value

10.00%

Maximum | Advanced Material Windows and Door Systems | Tradenames

Percentage of estimated excess fair value

10.00%

[1]	Net of accumulated impairment losses of $541.4 million ($451.3 million in the Advanced Material Windows & Door Systems segment and $90.1 million in the Security & Storage segment).

Change in Net Carrying Amount of Goodwill by Segment (Detail)
$ in Millions

3 Months Ended

Mar. 31, 2014

USD ($)

Year-to-date translation adjustments

$ 1,519.9

^[1]

(2.3)

Acquisition-related adjustments

0.4

Kitchen and Bath Cabinetry

1,518.0

^[1]

Year-to-date translation adjustments

631.7

^[1]

(1.5)

Acquisition-related adjustments

0.4

630.6

^[1]

Plumbing and Accessories

569.7

^[1]

Advanced Material Windows and Door Systems

569.7

^[1]

229.1

^[1]

229.1

^[1]

Security and Storage

Year-to-date translation adjustments

89.4

^[1]

(0.8)

$ 88.6

^[1]

[1]	Net of accumulated impairment losses of $541.4 million ($451.3 million in the Advanced Material Windows & Door Systems segment and $90.1 million in the Security & Storage segment).

Change in Net Carrying Amount of Goodwill by Segment (Parenthetical) (Detail) $ in Millions	Mar. 31, 2014 USD ($)
Goodwill [Line Items]
Accumulated impairment losses	$ 541.4
Advanced Material Windows and Door Systems
Goodwill [Line Items]
Accumulated impairment losses	451.3
Security and Storage
Goodwill [Line Items]
Accumulated impairment losses	$ 90.1

Gross Carrying Value and Accumulated Amortization by Class of Intangible Assets (Detail) - USD ($)
$ in Millions

Mar. 31, 2014

Dec. 31, 2013

Gross Carrying Amounts, Total indentifiable intangibles

$ 1,023.1

$ 1,028.6

Accumulated Amortization, Total indentifiable intangibles

(278.2)

(275.7)

Net Book Value, Total indentifiable intangibles

744.9

752.9

Gross Carrying Amounts, Indefinite-lived tradenames

593.6

597.2

Accumulated Amortization, Indefinite-lived tradenames

^[1]

(42.0)

Net Book Value, Indefinite-lived tradenames

551.6

555.2

429.5

431.4

(236.2)

(233.7)

193.3

197.7

Tradenames

19.3

19.6

(7.5)

(7.4)

Customer and contractual relationships

11.8

12.2

346.8

348.6

(184.2)

(182.5)

Patents/proprietary technology

162.6

166.1

63.4

63.2

(44.5)

(43.8)

$ 18.9

$ 19.4

[1]	Accumulated amortization prior to the adoption of revised Accounting Standards Codification ("ASC") requirements for Intangibles - Goodwill and Other Assets.

External Debt and Financing Arrangements - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013
Debt Instrument [Line Items]
Revolving credit facility, maximum borrowing capacity	$ 650.0
Term loan	$ 350.0
Revolving credit facility, extended expiration date	2018-07
Term loan, extended expiration date	2018-07
Term loan, outstanding borrowings	$ 475.0		$ 350.0
Notes payable to banks	9.7		6.0
Uncommitted bank lines of credit, which provide for unsecured borrowings for working capital	$ 22.7		$ 22.7
Weighted-average interest rates on borrowings	9.80%	12.10%
LIBOR \| Minimum
Debt Instrument [Line Items]
Interest rate over LIBOR	1.00%
LIBOR \| Maximum
Debt Instrument [Line Items]
Interest rate over LIBOR	2.00%

Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Derivative [Line Items]
Net settlement receivable	$ 1.2
Estimated amount of net foreign currency derivative losses in other comprehensive income reclassified to earnings	0.1
Foreign exchange contracts
Derivative [Line Items]
Notional amount of foreign currency derivative hedges	201.9
Cash flow
Derivative [Line Items]
Net (Losses) Gains Recognized in OCI	$ (0.4)	$ 1.6

Fair Values of Derivative Instruments (Detail) - USD ($) $ in Millions	Mar. 31, 2014	Dec. 31, 2013
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	$ 2.5	$ 2.7
Net investment \| Other current assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	0.6	0.6
Foreign exchange contracts \| Other current assets
Derivatives, Fair Value [Line Items]
Derivative assets, fair value	1.9	2.1
Foreign exchange contracts \| Other current liabilities
Derivatives, Fair Value [Line Items]
Derivative liabilities, fair value	$ 1.3	$ 0.3

Effects of Derivative Financial Instruments on Consolidated Statements of Income (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income	$ 1.6	$ 0.2
Cash flow \| Cost of products sold
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income	0.7	0.4
Fair value \| Other income, net
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) Recognized in Income	$ 0.9	$ (0.2)

Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Mar. 31, 2014	Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 5.6	$ 6.2
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments (level 2)	2.5	2.7
Derivative financial instruments (level 2)	1.3	0.3
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation program assets	$ 3.1	$ 3.5

Fair Value Measurements - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2014	Dec. 31, 2013
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net of current portion	$ 475.0	$ 350.0
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, net of current portion	$ 475.0	$ 350.0

Components of Net Periodic Benefit Cost for Pension and Postretirement Benefits (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Defined Benefit Plan Disclosure [Line Items]
Recognition of actuarial losses	$ 0.6	$ 4.6
Pension Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost	2.7	3.2
Interest cost	8.2	7.5
Expected return on plan assets	(10.6)	(10.3)
Net periodic benefit cost	0.3	0.4
Postretirement Benefits
Defined Benefit Plan Disclosure [Line Items]
Service cost		0.1
Interest cost	0.2	0.6
Recognition of prior service credits	(10.6)	(7.0)
Recognition of actuarial losses	0.6	4.6
Net periodic benefit cost	$ (9.8)	$ (1.7)

Defined Benefit Plans - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Recognition of actuarial (losses) gains	$ (0.6)	$ (4.6)
Postretirement Benefits
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Reduction in accrued retiree benefit plans	(14.7)
Recognition of actuarial (losses) gains	(0.6)	$ (4.6)
Recognition of prior service credits	$ (3.7)

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Income Taxes [Line Items]
Effective income tax rate	32.10%	31.90%
Reasonably possible decrease in unrecognized tax benefits, minimum	$ 2
Reasonably possible decrease in unrecognized tax benefits, maximum	$ 3

Activity Related to Product Warranty Liability (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Product Warranty Liability [Line Items]
Reserve balance at January 1,	$ 15.2	$ 14.3
Provision for warranties issued	5.2	3.9
Settlements made (in cash or in kind)	(5.3)	(4.2)
Reserve balance at March 31,	$ 15.1	$ 14.0

Net Sales and Operating Income by Segment (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	$ 966.2	$ 890.0
Operating income (Loss)	$ 62.1	56.6
Net Sales, Percentage Change vs. Prior Year	8.60%
Operating Income (Loss), Percentage Change vs. Prior Year	9.70%
Corporate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Operating income (Loss)	$ (15.2)	(16.5)
Corporate expenses	$ (15.2)	(16.5)
Operating Income (Loss), Percentage Change vs. Prior Year	7.90%
Corporate expenses, Percentage Change vs. Prior Year	7.90%
General and administrative expense \| Corporate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Corporate expenses	$ (16.9)	(14.3)
Defined benefit plan costs \| Corporate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Corporate expenses	1.7	(2.2)
Kitchen and Bath Cabinetry \| Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	410.9	345.3
Operating income (Loss)	$ 19.9	14.3
Net Sales, Percentage Change vs. Prior Year	19.00%
Operating Income (Loss), Percentage Change vs. Prior Year	39.20%
Plumbing and Accessories \| Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	$ 309.9	308.9
Operating income (Loss)	$ 55.3	55.0
Net Sales, Percentage Change vs. Prior Year	0.30%
Operating Income (Loss), Percentage Change vs. Prior Year	0.50%
Advanced Material Windows and Door Systems \| Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	$ 130.0	124.2
Operating income (Loss)	$ (7.7)	(8.5)
Net Sales, Percentage Change vs. Prior Year	4.70%
Operating Income (Loss), Percentage Change vs. Prior Year	9.40%
Security and Storage \| Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Net sales	$ 115.4	111.6
Operating income (Loss)	$ 9.8	$ 12.3
Net Sales, Percentage Change vs. Prior Year	3.40%
Operating Income (Loss), Percentage Change vs. Prior Year	(20.30%)

Pre-tax restructuring and Other Charges (Detail) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

$ 2.3

$ 0.9

Cost of Products Sold

^[1]

0.1

0.3

2.4

1.2

Kitchen & Bath Cabinetry

0.1

0.3

Cost of Products Sold

^[1]

0.3

0.1

0.6

Plumbing & Accessories

0.1

0.1

Security & Storage

2.1

Cost of Products Sold

^[1]

0.1

Advanced Material Windows & Door Systems

$ 2.2

0.6

$ 0.6

[1]

"Other Charges" represent charges directly related to restructuring initiatives that cannot be reported as restructuring under U.S. GAAP. Such costs may include losses on disposal of inventories, trade receivables allowances from exiting product lines, accelerated depreciation resulting from the closure of facilities and gains or losses on the sale of previously closed facilities.

Computations of Earnings Loss Per Common Share (Detail) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Schedule of Earnings Per Share, Basic and Diluted, by Common Class [Line Items]
Net income attributable to Home & Security	$ 40.8	$ 37.3
Basic earnings per common share	$ 0.25	$ 0.23
Diluted earnings per common share	$ 0.24	$ 0.22
Basic average shares outstanding	166.2	164.3
Stock-based awards	5.0	6.0
Diluted average shares outstanding	171.2	170.3
Antidilutive stock-based awards excluded from weighted-average number of shares outstanding for diluted earnings per share	0.2	0.7

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Net Income
-URI http://asc.fasb.org/extlink&oid=6518256

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 45
-Paragraph 28
-URI http://asc.fasb.org/extlink&oid=31042434&loc=d3e3602-108585

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.19)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.18)
-URI http://asc.fasb.org/extlink&oid=26872669&loc=d3e20235-122688

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.22)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Other Comprehensive Income
-URI http://asc.fasb.org/extlink&oid=6519514

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=28358780&loc=d3e565-108580

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 19
-Article 5

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 20
-Article 9

Accumulated Other Comprehensive Income (Loss) [Line Items]

Components of and Changes in Accumulated Other Comprehensive Income (Detail)
$ in Millions

3 Months Ended

Mar. 31, 2014

USD ($)

Amounts classified into accumulated other comprehensive income

$ 95.4

(0.8)

Amounts reclassified from accumulated other comprehensive income

(6.8)

(7.6)

Foreign Currency Adjustments

87.8

Accumulated Other Comprehensive Income (Loss) [Line Items]

Amounts classified into accumulated other comprehensive income

53.3

(9.8)

(9.8)

Accumulated Other Comprehensive Income (Loss) [Line Items]

43.5

Derivative Hedging Gain

Amounts classified into accumulated other comprehensive income

0.9

(0.2)

Amounts reclassified from accumulated other comprehensive income

(0.6)

(0.8)

Defined Benefit Plan Adjustments

0.1

Accumulated Other Comprehensive Income (Loss) [Line Items]

Amounts classified into accumulated other comprehensive income

41.2

9.2

^[1]

Amounts reclassified from accumulated other comprehensive income

(6.2)

3.0

$ 44.2

[1]	See Note 9, "Defined Benefit Plans," for further information on the adjustments related to defined benefit plans.

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.

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Reclassifications Out of Accumulated Other Comprehensive Income (Detail) - USD ($)
$ in Millions

3 Months Ended

Mar. 31, 2014

Mar. 31, 2013

Cost of products sold

$ (651.5)

$ (589.8)

Income before income taxes

60.7

55.1

Tax (expense) benefit

(19.5)

(17.6)

Reclassification out of Accumulated Other Comprehensive Income

41.2

37.5

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Reclassification out of Accumulated Other Comprehensive Income | Derivative Hedging Gain | Foreign exchange contracts

6.8

1.6

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Cost of products sold

0.7

0.4

Tax (expense) benefit

(0.1)

Reclassification out of Accumulated Other Comprehensive Income | Defined Benefit Plan Adjustments

0.6

0.3

Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]

Recognition of prior service cost

^[1]

10.6

7.0

Recognition of actuarial losses

^[1]

(0.6)

(4.6)

Income before income taxes

10.0

2.4

Tax (expense) benefit

(3.8)

(1.1)