Allegion (ALLE) 10-Q25 Apr 242024 Q1 Quarterly reportFinancial data

Company Profile

Cover Page

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2024	Apr. 22, 2024
Class of Stock [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-35971
Entity Central Index Key	0001579241
Entity Registrant Name	Allegion plc
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Incorporation, State or Country Code	L2
Entity Tax Identification Number	98-1108930
Entity Address, Address Line One	Block D
Entity Address, Address Line Two	Iveagh Court
Entity Address, Address Line Three	Harcourt Road
Entity Address, City or Town	Dublin 2
Entity Address, Postal Zip Code	D02 VH94
Entity Address, Country	IE
Country Region	353
City Area Code	1
Local Phone Number	2546200
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		87,440,696
Ordinary shares
Class of Stock [Line Items]
Title of 12(b) Security	Ordinary shares, par value $0.01 per share
Trading Symbol	ALLE
Security Exchange Name	NYSE
3.500% Senior Notes Due 2029
Class of Stock [Line Items]
Title of 12(b) Security	3.500% Senior Notes due 2029
Trading Symbol	ALLE 3 ½
Security Exchange Name	NYSE

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net revenues	$ 893.9	$ 923
Cost of goods sold	502.5	532
Selling and administrative expenses	219.3	220
Operating income	172.1	171
Interest expense	22.9	23.6
Other income, net	(3.7)	(0.3)
Earnings before income taxes	152.9	147.7
Provision for income taxes	29.1	24.1
Net earnings	123.8	123.6
Less: Net earnings attributable to noncontrolling interests	0	0.1
Net earnings attributable to Allegion plc	$ 123.8	$ 123.5
Earnings per share attributable to Allegion plc ordinary shareholders:
Basic net earnings (in dollars per share)	$ 1.41	$ 1.40
Diluted net earnings (in dollars per share)	$ 1.41	$ 1.40
Weighted-average shares outstanding:
Basic (in shares)	87.6	88
Diluted (in shares)	88.1	88.4
Total comprehensive income	$ 99.8	$ 133.9
Less: Total comprehensive income attributable to noncontrolling interests	0	0.2
Total comprehensive income attributable to Allegion plc	$ 99.8	$ 133.7

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 391.8	$ 468.1
Accounts and notes receivable, net	448	412.8
Inventories	448.3	438.5
Other current assets	50.2	41.5
Total current assets	1,338.3	1,360.9
Property, plant and equipment, net	362	358.1
Goodwill	1,436.4	1,443.1
Intangible assets, net	565.8	572.8
Other noncurrent assets	584.4	576.6
Total assets	4,286.9	4,311.5
LIABILITIES AND EQUITY
Accounts payable	247.5	259.2
Accrued expenses and other current liabilities	364.7	407.9
Short-term borrowings and current maturities of long-term debt	413.2	412.6
Total current liabilities	1,025.4	1,079.7
Long-term debt	1,600.1	1,602.4
Other noncurrent liabilities	310.5	311.1
Total liabilities	2,936	2,993.2
Equity:
Ordinary shares, $0.01 par value (87,440,045 and 87,504,673 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively)	0.9	0.9
Retained earnings	1,635.5	1,578.9
Accumulated other comprehensive loss	(285.5)	(261.5)
Total equity	1,350.9	1,318.3
Total liabilities and equity	$ 4,286.9	$ 4,311.5

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Ordinary shares, par value (in dollars per share)	$ 0.01	$ 0.01
Ordinary shares, issued (in shares)	87,440,045	87,504,673
Ordinary shares, outstanding (in shares)	87,440,045	87,504,673

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities
Net earnings	$ 123.8	$ 123.6
Adjustments to arrive at net cash provided by operating activities:
Depreciation and amortization	28.8	28.3
Changes in assets and liabilities and other non-cash items	(101.5)	(82.9)
Net cash provided by operating activities	51.1	69
Cash flows from investing activities
Capital expenditures	(27.2)	(22.3)
Acquisition of businesses, net of cash acquired	(19.3)	(36.6)
Other investing activities, net	3.1	7.5
Net cash used in investing activities	(43.4)	(51.4)
Cash flows from financing activities
Debt repayments, net	(3.2)	(3.1)
Proceeds from 2021 Revolving Facility	0	30
Net (repayments of) proceeds from debt	(3.2)	26.9
Dividends paid to ordinary shareholders	(42.1)	(39.4)
Repurchase of ordinary shares	(40)	0
Other financing activities, net	5.3	(2.9)
Net cash used in financing activities	(80)	(15.4)
Effect of exchange rate changes on cash and cash equivalents	(4)	2.6
Net (decrease) increase in cash and cash equivalents	(76.3)	4.8
Cash and cash equivalents - beginning of period	468.1	288
Cash and cash equivalents - end of period	$ 391.8	$ 292.8

Basis of Presentation

Basis of Presentation	3 Months Ended
Basis of Presentation	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The accompanying Condensed and Consolidated Financial Statements of Allegion plc, an Irish public limited company, and its consolidated subsidiaries ("Allegion" or "the Company"), reflect the consolidated operations of the Company and have been prepared in accordance with United States ("U.S.") Securities and Exchange Commission ("SEC") interim reporting requirements. Accordingly, the accompanying Condensed and Consolidated Financial Statements do not include all disclosures required by accounting principles generally accepted in the U.S. ("GAAP") for full financial statements and should be read in conjunction with the Consolidated Financial Statements included in the Allegion Annual Report on Form 10-K for the year ended December 31, 2023. In the opinion of management, the accompanying Condensed and Consolidated Financial Statements contain all adjustments, which include normal recurring adjustments, necessary to state fairly the consolidated unaudited results for the interim periods presented.

Acquisitions

Acquisitions	3 Months Ended
Acquisitions	Mar. 31, 2024
Business Combinations [Abstract]
Acquisitions	ACQUISITIONS 2024 Boss Door Controls On February 1, 2024, the Company, through its subsidiaries, acquired Boss Door Controls, a door solutions provider in the United Kingdom. The Boss Door Controls business has been incorporated into the Company's Allegion International segment. Dorcas On March 4, 2024, the Company, through its subsidiaries, acquired Montajes electronicos Dorcas S.L. ("Dorcas"), a leading manufacturer of electro-mechanical access control solutions based in Spain. The Dorcas business has been incorporated into the Company's Allegion International segment. These acquisitions were accounted for as business combinations. Total consideration for these acquisitions was approximately $19.3 million (net of cash acquired). The initial allocation of the aggregate purchase price to assets acquired and liabilities assumed as of the acquisition dates includes $13.3 million of intangible assets, $2.3 million of goodwill, and $3.7 million of net tangible assets. 2023 On January 3, 2023, the Company, through its subsidiaries, completed an acquisition of the assets of plano. group, a SaaS workforce management solution business based in Germany ("plano"), for initial cash consideration of $36.6 million. Additional consideration may be payable in future periods in the event plano achieves certain specified financial results. This acquisition was accounted for as a business combination, and plano has been incorporated into the Allegion International segment.

Inventories

Inventories	3 Months Ended
Inventories	Mar. 31, 2024
Inventory, Net [Abstract]
Inventories	INVENTORIES Inventories are stated at the lower of cost and net realizable value using the first-in, first-out (FIFO) method. The major classes of inventories were as follows: In millions March 31, December 31, Raw materials $ 212.7 $ 218.4 Work-in-process 47.4 41.6 Finished goods 188.2 178.5 Total $ 448.3 $ 438.5

Goodwill

Goodwill	3 Months Ended
Goodwill	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	GOODWILL The changes in the carrying amount of goodwill for the three months ended March 31, 2024, were as follows: In millions Allegion Americas Allegion International Total (1) December 31, 2023 $ 1,126.7 $ 316.4 $ 1,443.1 Acquisitions and adjustments — 2.3 2.3 Currency translation (2.2) (6.8) (9.0) March 31, 2024 $ 1,124.5 $ 311.9 $ 1,436.4 (1) Accumulated impairment for the International segment was $573.6 million as of March 31, 2024 and December 31, 2023. There are no accumulated impairment losses for the Americas segment. There was no impairment of goodwill for the three months ended March 31, 2024 and 2023.

Intangible Assets

Intangible Assets	3 Months Ended
Intangible Assets	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	INTANGIBLE ASSETS The gross amount of the Company’s intangible assets and related accumulated amortization were as follows: March 31, 2024 December 31, 2023 In millions Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Completed technologies/patents $ 63.8 $ (37.8) $ 26.0 $ 64.5 $ (36.9) $ 27.6 Customer relationships 535.4 (188.0) 347.4 535.3 (185.2) 350.1 Trade names (finite-lived) 145.2 (81.7) 63.5 142.2 (79.3) 62.9 Other 76.3 (50.5) 25.8 75.3 (47.5) 27.8 Total finite-lived intangible assets 820.7 $ (358.0) 462.7 817.3 $ (348.9) 468.4 Trade names (indefinite-lived) 103.1 103.1 104.4 104.4 Total $ 923.8 $ 565.8 $ 921.7 $ 572.8

Debt and Credit Facilities

Debt and Credit Facilities	3 Months Ended
Debt and Credit Facilities	Mar. 31, 2024
Debt Disclosure [Abstract]
Debt and Credit Facilities	DEBT AND CREDIT FACILITIES Long-term debt and other borrowings consisted of the following: In millions March 31, December 31, 2021 Term Facility $ 221.9 $ 225.0 3.200% Senior Notes due 2024 400.0 400.0 3.550% Senior Notes due 2027 400.0 400.0 3.500% Senior Notes due 2029 400.0 400.0 5.411% Senior Notes due 2032 600.0 600.0 Other debt 0.9 0.1 Total borrowings outstanding 2,022.8 2,025.1 Discounts and debt issuance costs, net (9.5) (10.1) Total debt 2,013.3 2,015.0 Less current portion of long-term debt 413.2 412.6 Total long-term debt $ 1,600.1 $ 1,602.4 Unsecured Credit Facilities The Company has an unsecured credit agreement consisting of a $250.0 million term loan facility (the “2021 Term Facility”), of which $221.9 million was outstanding at March 31, 2024, and a $500.0 million revolving credit facility (the “2021 Revolving Facility” and, together with the 2021 Term Facility, the “2021 Credit Facilities”), of which no balance was outstanding at March 31, 2024. The 2021 Credit Facilities mature on November 18, 2026, and are unconditionally guaranteed jointly and severally on an unsecured basis by Allegion plc and Allegion US Holding Company Inc. ("Allegion US Hold Co"), the Company’s wholly-owned subsidiary. The 2021 Term Facility amortizes in quarterly installments at the following rates: 1.25% per quarter starting March 31, 2022 through March 31, 2025, 2.5% per quarter starting June 30, 2025 through September 30, 2026, with the balance due on November 18, 2026. The Company repaid $3.1 million of principal on the 2021 Term Facility during the three months ended March 31, 2024. The 2021 Revolving Facility provides aggregate commitments of up to $500.0 million, which includes up to $100.0 million for the issuance of letters of credit. The Company had Outstanding borrowings under the 2021 Credit Facilities accrue interest, at the option of the Company, equal to either: (i) a Bloomberg Short-Term Bank Yield Index ("BSBY") rate plus an applicable margin or (ii) a base rate plus the applicable margin. The applicable margin ranges from 0.875% to 1.375% depending on the Company’s credit ratings. At March 31, 2024, the Company's outstanding borrowings under the 2021 Credit Facilities accrued interest at BSBY plus a margin of 1.125%, resulting in an interest rate of 6.472%. The 2021 Credit Facilities also contain negative and affirmative covenants and events of default that, among other things, limit or restrict the Company’s ability to enter into certain transactions. In addition, the 2021 Credit Facilities require the Company to comply with a maximum leverage ratio as defined in the credit agreement. As of March 31, 2024, the Company was in compliance with all applicable covenants under the credit agreement. Senior Notes As of March 31, 2024, Allegion US Hold Co had $400.0 million outstanding of its 3.200% Senior Notes due 2024 (the “3.200% Senior Notes”), $400.0 million outstanding of its 3.550% Senior Notes due 2027 (the “3.550% Senior Notes”) and $600.0 million outstanding of its 5.411% Senior Notes due 2032 (the "5.411% Senior Notes"), and Allegion plc had $400.0 million outstanding of its 3.500% Senior Notes due 2029 (the “3.500% Senior Notes”, and all four senior notes collectively, the “Senior Notes”). The 3.200% Senior Notes, 3.550% Senior Notes and 3.500% Senior Notes all require semi-annual interest payments on April 1 and October 1 of each year and will mature on October 1, 2024, October 1, 2027 and October 1, 2029, respectively. The 5.411% Senior Notes require semi-annual interest payments on January 1 and July 1 of each year, and will mature on July 1, 2032. The 3.200% Senior Notes, 3.550% Senior Notes and 5.411% Senior Notes are senior unsecured obligations of Allegion US Hold Co and rank equally with all of Allegion US Hold Co’s existing and future senior unsecured and unsubordinated indebtedness. The guarantee of the 3.200% Senior Notes, the 3.550% Senior Notes and the 5.411% Senior Notes is the senior unsecured obligation of Allegion plc and ranks equally with all of the Company’s existing and future senior unsecured and unsubordinated indebtedness. The 3.500% Senior Notes are senior unsecured obligations of Allegion plc, are guaranteed by Allegion US Hold Co and rank equally with all of the Company’s existing and future senior unsecured indebtedness. As of March 31, 2024, the company was in compliance with all applicable covenants under the Senior Notes.

Financial Instruments

Financial Instruments	3 Months Ended
Financial Instruments	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	FINANCIAL INSTRUMENTS Currency Hedging Instruments The gross notional amount of the Company’s currency derivatives was $161.2 million and $175.4 million at March 31, 2024 and December 31, 2023, respectively. Neither the fair values of currency derivatives, which are determined based on a pricing model that uses spot rates and forward prices from actively quoted currency markets that are readily observable (Level 2 inputs under the fair value hierarchy described in Note 10), nor the balances included in Accumulated other comprehensive loss were material as of March 31, 2024 or December 31, 2023. Currency derivatives designated as cash flow hedges did not have a material impact to either Net earnings or Other comprehensive income during the three months ended March 31, 2024 and 2023, nor is the amount to be reclassified into Net earnings over the next twelve months expected to be material. At March 31, 2024, the maximum term of the Company’s currency derivatives was less than one year. Concentration of Credit Risk

Leases

Leases	3 Months Ended
Leases	Mar. 31, 2024
Leases [Abstract]
Leases	LEASES Total rental expense for the three months ended March 31, 2024 and 2023, was $15.5 million and $13.6 million, respectively, and is classified within Cost of goods sold and Selling and administrative expenses within the Condensed and Consolidated Statements of Comprehensive Income. Rental expense related to short-term leases, variable lease payments or other leases or lease components not included within the right of use ("ROU") asset or lease liability totaled $4.1 million and $3.2 million, respectively, for the three months ended March 31, 2024 and 2023. No material lease costs have been capitalized on the Condensed and Consolidated Balance Sheets as of March 31, 2024 or December 31, 2023. The Company assesses the specific terms and conditions of each lease to determine the appropriate classification as either an operating or finance lease and the lease term. Substantially all of the Company's leases for which the Company is a lessee are classified as operating leases. As a lessee, the Company categorizes its leases into two general categories: real estate leases and equipment leases. Amounts included within the Condensed and Consolidated Balance Sheets related to the Company’s ROU asset and lease liability for both real estate and equipment leases were as follows: March 31, 2024 December 31, 2023 In millions Balance Sheet classification Real estate Equipment Total Real estate Equipment Total ROU asset Other noncurrent assets $ 111.6 $ 36.6 $ 148.2 $ 114.7 $ 33.4 $ 148.1 Lease liability - current Accrued expenses and other current liabilities 18.6 15.7 34.3 18.7 15.0 33.7 Lease liability - noncurrent Other noncurrent liabilities 96.3 20.8 117.1 98.9 18.4 117.3 Other information: Weighted-average remaining term (years) 11.5 2.8 11.6 2.7 Weighted-average discount rate 5.0 % 4.9 % 5.0 % 4.4 % The following table summarizes additional information related to the Company’s leases for the three months ended March 31: 2024 2023 In millions Real estate Equipment Total Real estate Equipment Total Cash paid for amounts included in the measurement of lease liabilities $ 6.3 $ 5.1 $ 11.4 $ 5.9 $ 4.5 $ 10.4 ROU assets obtained in exchange for new lease liabilities 2.3 3.8 6.1 41.4 1.9 43.3 Future Repayments Scheduled minimum lease payments required under non-cancellable operating leases for both the real estate and equipment lease portfolios for the remainder of 2024 and for each of the years thereafter as of March 31, 2024, are as follows: In millions Remainder of 2024 2025 2026 2027 2028 Thereafter Total Real estate leases $ 18.0 $ 22.3 $ 18.8 $ 14.9 $ 9.6 $ 74.8 $ 158.4 Equipment leases 13.4 13.0 7.0 3.9 2.0 0.1 39.4 Total $ 31.4 $ 35.3 $ 25.8 $ 18.8 $ 11.6 $ 74.9 $ 197.8 The difference between the total undiscounted minimum lease payments and the combined current and noncurrent lease liabilities as of March 31, 2024, is due to imputed interest of $46.4 million.

Defined Benefit Plans

Defined Benefit Plans	3 Months Ended
Defined Benefit Plans	Mar. 31, 2024
Retirement Benefits, Description [Abstract]
Defined Benefit Plans	DEFINED BENEFIT PLANS The Company sponsors several U.S. and non-U.S. defined benefit pension plans for eligible employees and retirees and also maintains other supplemental plans for officers and other key employees. The components of the Company’s Net periodic pension benefit cost (income) for the three months ended March 31 were as follows: U.S. In millions 2024 2023 Service cost $ 0.2 $ 0.2 Interest cost 2.9 2.9 Expected return on plan assets (3.8) (3.7) Administrative costs and other 0.3 0.3 Net amortization of: Prior service costs 0.1 — Plan net actuarial losses 0.2 0.2 Net periodic pension benefit income $ (0.1) $ (0.1) Non-U.S. In millions 2024 2023 Service cost $ 0.4 $ 0.4 Interest cost 3.0 3.0 Expected return on plan assets (4.0) (3.9) Administrative costs and other 0.4 0.4 Net amortization of: Plan net actuarial losses 0.9 0.9 Net periodic pension benefit cost $ 0.7 $ 0.8 Service cost is recorded in Cost of goods sold and Selling and administrative expenses, while the remaining components of Net periodic pension benefit cost (income) are recorded in Other income, net within the Condensed and Consolidated Statements of Comprehensive Income. Employer contributions to the plans were not material during the three months ended March 31, 2024 or 2023. Employer contributions totaling approximately $3.7 million are e xpected to be made during the remainder of 2024.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS Fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Fair value measurements are based on a framework that utilizes the inputs market participants use to determine the fair value of an asset or liability and establishes a fair value hierarchy to prioritize those inputs. The fair value hierarchy is comprised of three levels that are described below: • Level 1 – Inputs based on quoted prices in active markets for identical assets or liabilities. • Level 2 – Inputs other than Level 1 quoted prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. • Level 3 – Unobservable inputs based on little or no market activity and that are significant to the fair value of the assets and liabilities. The fair value hierarchy requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Observable inputs are obtained from independent sources and can be validated by a third party, whereas unobservable inputs reflect assumptions regarding what a third party would use in pricing an asset or liability based on the best information available under the circumstances. A financial instrument’s categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Assets and liabilities measured at fair value as of March 31, 2024, were as follows: Fair value measurements Total In millions Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Recurring fair value measurements Assets: Investments $ — $ 15.8 $ — $ 15.8 Total asset recurring fair value measurements $ — $ 15.8 $ — $ 15.8 Liabilities: Deferred compensation and other retirement plans $ — $ 16.0 $ — $ 16.0 Total liability recurring fair value measurements $ — $ 16.0 $ — $ 16.0 Financial instruments not carried at fair value Total debt $ — $ 1,966.8 $ — $ 1,966.8 Total financial instruments not carried at fair value $ — $ 1,966.8 $ — $ 1,966.8 Assets and liabilities measured at fair value as of December 31, 2023, were as follows: Fair value measurements Total In millions Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Recurring fair value measurements Assets: Investments $ — $ 18.0 $ — $ 18.0 Total asset recurring fair value measurements $ — $ 18.0 $ — $ 18.0 Liabilities: Deferred compensation and other retirement plans $ — $ 18.2 $ — $ 18.2 Total liability recurring fair value measurements $ — $ 18.2 $ — $ 18.2 Financial instruments not carried at fair value Total debt $ — $ 1,984.9 $ — $ 1,984.9 Total financial instruments not carried at fair value $ — $ 1,984.9 $ — $ 1,984.9 The Company determines the fair value of its financial assets and liabilities using the following methodologies: • Investments – These instruments include equity mutual funds and corporate bond funds. The fair value is obtained based on observable market prices quoted on public exchanges for similar instruments. • Deferred compensation and other retirement plans – These include obligations related to deferred compensation and other retirement plans adjusted for market performance. The fair value is obtained based on observable market prices quoted on public exchanges for similar instruments. • Debt – These instruments are recorded at cost and include the 2021 Credit Facilities and Senior Notes maturing through 2032. The fair value of these debt instruments is obtained based on observable market prices quoted on public exchanges for similar instruments. The methodologies used by the Company to determine the fair value of its financial assets and liabilities as of March 31, 2024, are the same as those used as of December 31, 2023. The carrying values of Cash and cash equivalents, Accounts and notes receivable, net, Accounts payable and Accrued expenses and other current liabilities are a reasonable estimate of their fair value due to the short-term nature of these instruments. The Company also had investments in debt and equity securities without readily determinable fair values of $65.8 million as of both March 31, 2024 and December 31, 2023, which are classified as Other noncurrent assets within the Condensed and Consolidated Balance Sheets. These investments are considered to be nonrecurring fair value measurements, and thus, are not included in the fair value tables above.

Equity

Equity	3 Months Ended
Equity	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Equity	EQUITY The changes in the components of Equity for the three months ended March 31, 2024, were as follows: Allegion plc shareholders' equity Ordinary shares In millions, except per share amounts Total equity Amount Shares Capital in excess of par value Retained earnings Accumulated other comprehensive loss Balance at December 31, 2023 $ 1,318.3 $ 0.9 87.5 $ — $ 1,578.9 $ (261.5) Net earnings 123.8 — — — 123.8 — Other comprehensive loss, net (24.0) — — — — (24.0) Repurchase of ordinary shares (40.0) — (0.3) (14.8) (25.2) — Share-based compensation activity 14.8 — 0.2 14.8 — — Dividends to ordinary shareholders ($0.48 per share) (42.0) — — — (42.0) — Balance at March 31, 2024 $ 1,350.9 $ 0.9 87.4 $ — $ 1,635.5 $ (285.5) The changes in the components of Equity for the three months ended March 31, 2023, were as follows: Allegion plc shareholders' equity Ordinary shares In millions, except per share amounts Total equity Amount Shares Capital in excess of par value Retained earnings Accumulated other comprehensive loss Noncontrolling Balance at December 31, 2022 $ 944.5 $ 0.9 87.9 $ 13.9 $ 1,212.8 $ (285.8) $ 2.7 Net earnings 123.6 — — — 123.5 — 0.1 Other comprehensive income, net 10.3 — — — — 10.2 0.1 Share-based compensation activity 5.7 — — 5.7 — — — Dividends to ordinary shareholders ($0.45 per share) (39.5) — — — (39.5) — — Balance at March 31, 2023 $ 1,044.6 $ 0.9 87.9 $ 19.6 $ 1,296.8 $ (275.6) $ 2.9 In June 2023, the Company’s Board of Directors (the "Board") reauthorized the Company's existing share repurchase program and, as a result, authorized the repurchase of up to, and including, $500.0 million of the Company’s ordinary shares (the "Share Repurchase Authorization"). During the three months ended March 31, 2024 the Company paid $40.0 million to repurchase the ordinary shares reflected above on the open market under the Share Repurchase Authorization. As of March 31, 2024, the Company had approximately $420.0 million available under the Share Repurchase Authorization. Accumulated Other Comprehensive Loss The changes in Accumulated other comprehensive loss for the three months ended March 31, 2024, were as follows: In millions Cash flow hedges Defined benefit items Foreign currency items Total December 31, 2023 $ 5.6 $ (125.9) $ (141.2) $ (261.5) Other comprehensive income (loss) before reclassifications 0.7 0.9 (26.4) (24.8) Amounts reclassified from accumulated other comprehensive loss (a) (0.1) 1.2 — 1.1 Tax expense (0.2) (0.1) — (0.3) March 31, 2024 $ 6.0 $ (123.9) $ (167.6) $ (285.5) The changes in Accumulated other comprehensive loss for the three months ended March 31, 2023, were as follows: In millions Cash flow hedges Defined benefit items Foreign currency items Total December 31, 2022 $ 6.1 $ (117.1) $ (174.8) $ (285.8) Other comprehensive (loss) income before reclassifications (0.7) (1.9) 11.7 9.1 Amounts reclassified from accumulated other comprehensive loss (a) (0.2) 1.0 — 0.8 Tax benefit 0.2 0.1 — 0.3 March 31, 2023 $ 5.4 $ (117.9) $ (163.1) $ (275.6) (a) Amounts reclassified from Accumulated other comprehensive loss and recognized into Net earnings related to cash flow hedges are recorded in Cost of goods sold and Interest expense. Amounts reclassified from Accumulated other comprehensive loss and recognized into Net earnings related to defined benefit items are record ed in

Share-Based Compensation

Share-Based Compensation	3 Months Ended
Share-Based Compensation	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	SHARE-BASED COMPENSATION The Company’s share-based compensation plans include programs for stock options, restricted stock units ("RSUs") and performance stock units ("PSUs"). Share-based compensation expense is included in Cost of goods sold and Selling and administrative expenses within the Condensed and Consolidated Statements of Comprehensive Income. The following table summarizes the share-based compensation expense recognized for the three months ended March 31: In millions 2024 2023 Stock options $ 2.1 $ 2.1 RSUs 5.4 5.0 PSUs 2.1 1.7 Pre-tax expense 9.6 8.8 Tax benefit (0.9) (1.2) After-tax expense $ 8.7 $ 7.6 Stock Options / RSUs Eligible participants may receive (i) stock options, (ii) RSUs or (iii) a combination of both stock options and RSUs. Grants issued during the three months ended March 31 were as follows: 2024 2023 Number Weighted- Number Weighted- Stock options 127,046 $ 40.92 156,929 $ 33.66 RSUs 83,328 $ 130.29 117,923 $ 112.59 The weighted-average fair value of the stock options granted is determined using the Black-Scholes option-pricing model. The following weighted-average assumptions were used during the three months ended March 31: 2024 2023 Dividend yield 1.47 % 1.60 % Volatility 29.29 % 28.47 % Risk-free rate of return 4.29 % 4.10 % Expected life (years) 6.0 6.0 Volatility is based on the Company’s historic volatility. The risk-free rate of return is based on the yield curve of a zero-coupon U.S. Treasury bond on the date the award is granted with a maturity equal to the expected term of the award. The expected life of the Company’s stock option awards is derived from the simplified approach based on the weighted-average time to vest and the remaining contractual term and represents the period of time that awards are expected to be outstanding. Performance Stock During the three months ended March 31, 2024, the Company granted PSUs with a maximum award level of approximately 0.1 million shares. In February 2022, 2023 and 2024, the Company’s Compensation Committee granted PSUs that were earned based 50% upon a performance condition, measured at each reporting period by earnings per share ("EPS") performance in relation to pre-established targets for each performance period set by the Compensation and Human Capital Committee of the Board, and 50% upon a market condition, measured by the Company’s relative total shareholder return against, for 2022 and 2023, the S&P 400 Capital Goods Index over a three-year performance period, and for 2024 a 50/50 blend of the S&P 400 Capitals Goods Index and the S&P 500 Capital Goods Index over a three-year performance period. The fair values of the market condition are estimated using a Monte Carlo Simulation approach in a risk-neutral framework to model future stock price movements based upon historical volatility, risk-free rates of return and correlation matrix.

Restructuring Activities

Restructuring Activities	3 Months Ended
Restructuring Activities	Mar. 31, 2024
Restructuring Charges [Abstract]
Restructuring Activities	RESTRUCTURING ACTIVITIES During the three months ended March 31, 2024 and 2023, the Company recorded $0.4 million and $3.0 million, respectively, of expenses associated with restructuring activities, which are included within Cost of goods sold and Selling and administrative expenses within the Condensed and Consolidated Statements of Comprehensive Income. The changes in the restructuring reserve during the three months ended March 31, 2024, were as follows: In millions Total December 31, 2023 $ 1.9 Additions, net of reversals 0.4 Cash payments (1.9) March 31, 2024 $ 0.4 The majority of the costs accrued as of March 31, 2024, are expected to be paid within one year. The Company also incurred other non-qualified restructuring charges, which represent costs that are directly attributable to restructuring activities, but that do not fall into the severance, exit or disposal category. These costs were not material during the three months ended March 31, 2024 or 2023. Non-qualified restructuring charges are included within Cost of goods sold and Selling and administrative expenses within the Condensed and Consolidated Statements of Comprehensive Income.

Other Income, Net

Other Income, Net	3 Months Ended
Other Income, Net	Mar. 31, 2024
Other Income and Expenses [Abstract]
Other, Net	OTHER INCOME, N ET The components of Other income, net for the three months ended March 31 were as follows: In millions 2024 2023 Interest income $ (3.6) $ (0.7) Foreign currency exchange loss 1.2 1.4 Other (1.3) (1.0) Other income, net $ (3.7) $ (0.3)

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES The effective income tax rates for the three months ended March 31, 2024 and 2023, were 19.0% and 16.3%, respectively. The increase in the effective income tax rate compared to 2023 is primarily due to the enactment of global minimum tax in 2024 and the unfavorable change in the mix of income earned in higher tax rate jurisdictions, which are partially offset by the favorable change in share-based compensation deductions.

Earnings Per Share (EPS)

Earnings Per Share (EPS)	3 Months Ended
Earnings Per Share (EPS)	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings Per Share (EPS)	EARNINGS PER SHARE ("EPS") Basic EPS is calculated by dividing Net earnings attributable to Allegion plc by the weighted-average number of ordinary shares outstanding for the applicable period. Diluted EPS is calculated after adjusting the denominator of the basic EPS calculation for the effect of all potentially dilutive ordinary shares, which in the Company’s case includes shares issuable under share-based compensation plans. The following table summarizes the weighted-average number of ordinary shares outstanding for basic and diluted EPS calculations for the three months ended March 31: In millions 2024 2023 Weighted-average number of basic shares 87.6 88.0 Shares issuable under share-based compensation plans 0.5 0.4 Weighted-average number of diluted shares 88.1 88.4 At March 31, 2024 and 2023, 0.3 million and 0.5 million stock options, respectively, were excluded from the computation of weighted-average diluted shares outstanding because the effect of including these shares would have been anti-dilutive.

Net Revenues

Net Revenues	3 Months Ended
Net Revenues	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Net Revenues	NET REVENUES The following tables show the Company’s Net revenues related to both tangible product sales and services for the three months ended March 31, 2024 and 2023, respectively, disaggregated by business segment: Three months ended March 31, 2024 In millions Allegion Americas Allegion International Total Net revenues Products $ 666.8 $ 178.9 $ 845.7 Services 42.5 5.7 48.2 Total Net revenues $ 709.3 $ 184.6 $ 893.9 Three months ended March 31, 2023 In millions Allegion Americas Allegion International Total Net revenues Products $ 697.4 $ 175.5 $ 872.9 Services 43.5 6.6 50.1 Total Net revenues $ 740.9 $ 182.1 $ 923.0 Net revenues are shown by tangible product sales and services, as contract terms, conditions and economic factors affecting the nature, amount, timing and uncertainty around revenue recognition and cash flows are substantially similar within each of these two principal revenue streams. Product sales involve contracts with a single performance obligation, the transfer of control of a product or bundle of products to a customer. Service revenue, which includes inspection, maintenance and repair, design and installation, aftermarket and locksmith services, as well as software-as-a-service offerings such as access control, IoT integration and workforce management solutions, is delayed until the service performance obligations are satisfied. As of March 31, 2024 and December 31, 2023, contract assets related to the Company’s right to consideration for work completed but not billed were not material. The Company does not have any costs to obtain or fulfill a contract that are capitalized on its Condensed and Consolidated Balance Sheets. During the three months ended March 31, 2024 and 2023, no adjustments related to performance obligations satisfied in previous periods were recorded.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES The Company is involved in various litigation, claims and administrative proceedings, including those related to environmental and product warranty matters. Amounts recorded for identified contingent liabilities are estimates, which are reviewed periodically and adjusted to reflect additional information when it becomes available. Subject to the uncertainties inherent in estimating future costs for contingent liabilities, except as expressly set forth in this note, management believes that any liability which may result from these legal matters would not have a material adverse effect on the financial condition, results of operations, liquidity or cash flows of the Company. Environmental Matters As of March 31, 2024 and December 31, 2023, the Company had reserves for environmental matters of $19.6 million and $20.2 million, respectively. The total reserve at March 31, 2024 and December 31, 2023, included $10.8 million and $11.2 million, respectively, related to remediation of sites previously disposed by the Company. Environmental reserves are classified as Accrued expenses and other current liabilities or Other noncurrent liabilities within the Condensed and Consolidated Balance Sheets based on the timing of their expected future payment. The Company’s total current environmental reserve at March 31, 2024 and December 31, 2023, was $3.0 million and $3.6 million, respectively, and the remainder was classified as noncurrent. Expenses related to environmental remediation were not material during the three months ended March 31, 2024 or 2023. Given the evolving nature of environmental laws, regulations and technology, the ultimate cost of future compliance is uncertain. Warranty Liability The changes in the standard product warranty liability for the three months ended March 31 were as follows: In millions 2024 2023 Balance at beginning of period $ 20.7 $ 18.2 Reductions for payments (2.6) (2.0) Accruals for warranties issued during the current period 4.4 2.3 Changes to accruals related to preexisting warranties (0.1) — Currency translation (0.2) — Balance at end of period $ 22.2 $ 18.5 Standard product warranty liabilities are classified as either Accrued expenses and other current liabilities or Other noncurrent liabilities within the Condensed and Consolidated Balance Sheets based on the timing of the expected future payments.

Business Segment Information

Business Segment Information	3 Months Ended
Business Segment Information	Mar. 31, 2024
Segment Reporting [Abstract]
Business Segment Information	BUSINESS SEGMENT INFORMATION The Company classifies its business into the following two reportable segments based on industry and market focus: Allegion Americas and Allegion International. The Company largely evaluates performance based on Segment operating income and Segment operating margins. Segment operating income is the measure of profit and loss that the Company’s chief operating decision maker, the chief executive officer, uses to evaluate the financial performance of the business and as the basis for resource allocation, performance reviews and compensation. For these reasons, the Company believes that Segment operating income represents the most relevant measure of segment profit and loss. The Company’s chief operating decision maker may exclude certain charges or gains, such as corporate charges and other special charges, from Operating income to arrive at a Segment operating income that is a more meaningful measure of profit and loss upon which to base operating decisions. The Company defines Segment operating margin as Segment operating income as a percentage of the segment’s Net revenues. A summary of operations by reportable segment for the three months ended March 31 was as follows: In millions 2024 2023 Net revenues Allegion Americas $ 709.3 $ 740.9 Allegion International 184.6 182.1 Total $ 893.9 $ 923.0 Segment operating income Allegion Americas $ 187.0 $ 186.6 Allegion International 13.0 10.6 Total 200.0 197.2 Reconciliation to Operating income Unallocated corporate expense (27.9) (26.2) Operating income 172.1 171.0 Reconciliation to earnings before income taxes Interest expense 22.9 23.6 Other income, net (3.7) (0.3) Earnings before income taxes $ 152.9 $ 147.7

Subsequent Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2024
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS On April 11, 2024, the Company's Board of Directors declared a quarterly dividend of $0.48 per ordinary share. The dividend is payable June 28, 2024, to shareholders of record on June 14, 2024.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
Inventories (Tables)	Mar. 31, 2024
Inventory, Net [Abstract]
Major classes of inventory	The major classes of inventories were as follows: In millions March 31, December 31, Raw materials $ 212.7 $ 218.4 Work-in-process 47.4 41.6 Finished goods 188.2 178.5 Total $ 448.3 $ 438.5

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
Goodwill (Tables)	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in carrying amount of goodwill	The changes in the carrying amount of goodwill for the three months ended March 31, 2024, were as follows: In millions Allegion Americas Allegion International Total (1) December 31, 2023 $ 1,126.7 $ 316.4 $ 1,443.1 Acquisitions and adjustments — 2.3 2.3 Currency translation (2.2) (6.8) (9.0) March 31, 2024 $ 1,124.5 $ 311.9 $ 1,436.4

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
Intangible Assets (Tables)	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets, net of Goodwill	The gross amount of the Company’s intangible assets and related accumulated amortization were as follows: March 31, 2024 December 31, 2023 In millions Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Completed technologies/patents $ 63.8 $ (37.8) $ 26.0 $ 64.5 $ (36.9) $ 27.6 Customer relationships 535.4 (188.0) 347.4 535.3 (185.2) 350.1 Trade names (finite-lived) 145.2 (81.7) 63.5 142.2 (79.3) 62.9 Other 76.3 (50.5) 25.8 75.3 (47.5) 27.8 Total finite-lived intangible assets 820.7 $ (358.0) 462.7 817.3 $ (348.9) 468.4 Trade names (indefinite-lived) 103.1 103.1 104.4 104.4 Total $ 923.8 $ 565.8 $ 921.7 $ 572.8

Debt and Credit Facilities (Tab

Debt and Credit Facilities (Tables)	3 Months Ended
Debt and Credit Facilities (Tables)	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt and other borrowings consisted of the following: In millions March 31, December 31, 2021 Term Facility $ 221.9 $ 225.0 3.200% Senior Notes due 2024 400.0 400.0 3.550% Senior Notes due 2027 400.0 400.0 3.500% Senior Notes due 2029 400.0 400.0 5.411% Senior Notes due 2032 600.0 600.0 Other debt 0.9 0.1 Total borrowings outstanding 2,022.8 2,025.1 Discounts and debt issuance costs, net (9.5) (10.1) Total debt 2,013.3 2,015.0 Less current portion of long-term debt 413.2 412.6 Total long-term debt $ 1,600.1 $ 1,602.4

Leases (Tables)

Leases (Tables)	3 Months Ended
Leases (Tables)	Mar. 31, 2024
Leases [Abstract]
Lessee, Operating Lease Asset and Liability, and Other Information	Amounts included within the Condensed and Consolidated Balance Sheets related to the Company’s ROU asset and lease liability for both real estate and equipment leases were as follows: March 31, 2024 December 31, 2023 In millions Balance Sheet classification Real estate Equipment Total Real estate Equipment Total ROU asset Other noncurrent assets $ 111.6 $ 36.6 $ 148.2 $ 114.7 $ 33.4 $ 148.1 Lease liability - current Accrued expenses and other current liabilities 18.6 15.7 34.3 18.7 15.0 33.7 Lease liability - noncurrent Other noncurrent liabilities 96.3 20.8 117.1 98.9 18.4 117.3 Other information: Weighted-average remaining term (years) 11.5 2.8 11.6 2.7 Weighted-average discount rate 5.0 % 4.9 % 5.0 % 4.4 %
Lease, Cost	The following table summarizes additional information related to the Company’s leases for the three months ended March 31: 2024 2023 In millions Real estate Equipment Total Real estate Equipment Total Cash paid for amounts included in the measurement of lease liabilities $ 6.3 $ 5.1 $ 11.4 $ 5.9 $ 4.5 $ 10.4 ROU assets obtained in exchange for new lease liabilities 2.3 3.8 6.1 41.4 1.9 43.3
Scheduled minimum lease payments under non-cancellable operating leases	Scheduled minimum lease payments required under non-cancellable operating leases for both the real estate and equipment lease portfolios for the remainder of 2024 and for each of the years thereafter as of March 31, 2024, are as follows: In millions Remainder of 2024 2025 2026 2027 2028 Thereafter Total Real estate leases $ 18.0 $ 22.3 $ 18.8 $ 14.9 $ 9.6 $ 74.8 $ 158.4 Equipment leases 13.4 13.0 7.0 3.9 2.0 0.1 39.4 Total $ 31.4 $ 35.3 $ 25.8 $ 18.8 $ 11.6 $ 74.9 $ 197.8

Defined Benefit Plans (Tables)

Defined Benefit Plans (Tables)	3 Months Ended
Defined Benefit Plans (Tables)	Mar. 31, 2024
Retirement Benefits, Description [Abstract]
Schedule of Net Periodic Benefit Cost	The Company sponsors several U.S. and non-U.S. defined benefit pension plans for eligible employees and retirees and also maintains other supplemental plans for officers and other key employees. The components of the Company’s Net periodic pension benefit cost (income) for the three months ended March 31 were as follows: U.S. In millions 2024 2023 Service cost $ 0.2 $ 0.2 Interest cost 2.9 2.9 Expected return on plan assets (3.8) (3.7) Administrative costs and other 0.3 0.3 Net amortization of: Prior service costs 0.1 — Plan net actuarial losses 0.2 0.2 Net periodic pension benefit income $ (0.1) $ (0.1) Non-U.S. In millions 2024 2023 Service cost $ 0.4 $ 0.4 Interest cost 3.0 3.0 Expected return on plan assets (4.0) (3.9) Administrative costs and other 0.4 0.4 Net amortization of: Plan net actuarial losses 0.9 0.9 Net periodic pension benefit cost $ 0.7 $ 0.8

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring	Assets and liabilities measured at fair value as of March 31, 2024, were as follows: Fair value measurements Total In millions Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Recurring fair value measurements Assets: Investments $ — $ 15.8 $ — $ 15.8 Total asset recurring fair value measurements $ — $ 15.8 $ — $ 15.8 Liabilities: Deferred compensation and other retirement plans $ — $ 16.0 $ — $ 16.0 Total liability recurring fair value measurements $ — $ 16.0 $ — $ 16.0 Financial instruments not carried at fair value Total debt $ — $ 1,966.8 $ — $ 1,966.8 Total financial instruments not carried at fair value $ — $ 1,966.8 $ — $ 1,966.8 Assets and liabilities measured at fair value as of December 31, 2023, were as follows: Fair value measurements Total In millions Quoted prices in active markets for identical assets (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Recurring fair value measurements Assets: Investments $ — $ 18.0 $ — $ 18.0 Total asset recurring fair value measurements $ — $ 18.0 $ — $ 18.0 Liabilities: Deferred compensation and other retirement plans $ — $ 18.2 $ — $ 18.2 Total liability recurring fair value measurements $ — $ 18.2 $ — $ 18.2 Financial instruments not carried at fair value Total debt $ — $ 1,984.9 $ — $ 1,984.9 Total financial instruments not carried at fair value $ — $ 1,984.9 $ — $ 1,984.9

Equity (Tables)

Equity (Tables)	3 Months Ended
Equity (Tables)	Mar. 31, 2024
Stockholders' Equity Note [Abstract]
Components of Equity	The changes in the components of Equity for the three months ended March 31, 2024, were as follows: Allegion plc shareholders' equity Ordinary shares In millions, except per share amounts Total equity Amount Shares Capital in excess of par value Retained earnings Accumulated other comprehensive loss Balance at December 31, 2023 $ 1,318.3 $ 0.9 87.5 $ — $ 1,578.9 $ (261.5) Net earnings 123.8 — — — 123.8 — Other comprehensive loss, net (24.0) — — — — (24.0) Repurchase of ordinary shares (40.0) — (0.3) (14.8) (25.2) — Share-based compensation activity 14.8 — 0.2 14.8 — — Dividends to ordinary shareholders ($0.48 per share) (42.0) — — — (42.0) — Balance at March 31, 2024 $ 1,350.9 $ 0.9 87.4 $ — $ 1,635.5 $ (285.5) The changes in the components of Equity for the three months ended March 31, 2023, were as follows: Allegion plc shareholders' equity Ordinary shares In millions, except per share amounts Total equity Amount Shares Capital in excess of par value Retained earnings Accumulated other comprehensive loss Noncontrolling Balance at December 31, 2022 $ 944.5 $ 0.9 87.9 $ 13.9 $ 1,212.8 $ (285.8) $ 2.7 Net earnings 123.6 — — — 123.5 — 0.1 Other comprehensive income, net 10.3 — — — — 10.2 0.1 Share-based compensation activity 5.7 — — 5.7 — — — Dividends to ordinary shareholders ($0.45 per share) (39.5) — — — (39.5) — — Balance at March 31, 2023 $ 1,044.6 $ 0.9 87.9 $ 19.6 $ 1,296.8 $ (275.6) $ 2.9
Accumulated Other Comprehensive Loss	The changes in Accumulated other comprehensive loss for the three months ended March 31, 2024, were as follows: In millions Cash flow hedges Defined benefit items Foreign currency items Total December 31, 2023 $ 5.6 $ (125.9) $ (141.2) $ (261.5) Other comprehensive income (loss) before reclassifications 0.7 0.9 (26.4) (24.8) Amounts reclassified from accumulated other comprehensive loss (a) (0.1) 1.2 — 1.1 Tax expense (0.2) (0.1) — (0.3) March 31, 2024 $ 6.0 $ (123.9) $ (167.6) $ (285.5) The changes in Accumulated other comprehensive loss for the three months ended March 31, 2023, were as follows: In millions Cash flow hedges Defined benefit items Foreign currency items Total December 31, 2022 $ 6.1 $ (117.1) $ (174.8) $ (285.8) Other comprehensive (loss) income before reclassifications (0.7) (1.9) 11.7 9.1 Amounts reclassified from accumulated other comprehensive loss (a) (0.2) 1.0 — 0.8 Tax benefit 0.2 0.1 — 0.3 March 31, 2023 $ 5.4 $ (117.9) $ (163.1) $ (275.6) (a) Amounts reclassified from Accumulated other comprehensive loss and recognized into Net earnings related to cash flow hedges are recorded in Cost of goods sold and Interest expense. Amounts reclassified from Accumulated other comprehensive loss and recognized into Net earnings related to defined benefit items are record ed in

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
Share-Based Compensation (Tables)	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation Expense	The following table summarizes the share-based compensation expense recognized for the three months ended March 31: In millions 2024 2023 Stock options $ 2.1 $ 2.1 RSUs 5.4 5.0 PSUs 2.1 1.7 Pre-tax expense 9.6 8.8 Tax benefit (0.9) (1.2) After-tax expense $ 8.7 $ 7.6
Grants of Stock Options and RSUs	Grants issued during the three months ended March 31 were as follows: 2024 2023 Number Weighted- Number Weighted- Stock options 127,046 $ 40.92 156,929 $ 33.66 RSUs 83,328 $ 130.29 117,923 $ 112.59
Stock Options Fair Value Assumptions	The following weighted-average assumptions were used during the three months ended March 31: 2024 2023 Dividend yield 1.47 % 1.60 % Volatility 29.29 % 28.47 % Risk-free rate of return 4.29 % 4.10 % Expected life (years) 6.0 6.0

Restructuring Activities (Table

Restructuring Activities (Tables)	3 Months Ended
Restructuring Activities (Tables)	Mar. 31, 2024
Restructuring Charges [Abstract]
Schedule of Changes in Restructuring Reserve	The changes in the restructuring reserve during the three months ended March 31, 2024, were as follows: In millions Total December 31, 2023 $ 1.9 Additions, net of reversals 0.4 Cash payments (1.9) March 31, 2024 $ 0.4

Other Income, Net (Tables)

Other Income, Net (Tables)	3 Months Ended
Other Income, Net (Tables)	Mar. 31, 2024
Other Income and Expenses [Abstract]
Other Income, Net	The components of Other income, net for the three months ended March 31 were as follows: In millions 2024 2023 Interest income $ (3.6) $ (0.7) Foreign currency exchange loss 1.2 1.4 Other (1.3) (1.0) Other income, net $ (3.7) $ (0.3)

Earnings Per Share (EPS) (Table

Earnings Per Share (EPS) (Tables)	3 Months Ended
Earnings Per Share (EPS) (Tables)	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Basic and Diluted Shares	The following table summarizes the weighted-average number of ordinary shares outstanding for basic and diluted EPS calculations for the three months ended March 31: In millions 2024 2023 Weighted-average number of basic shares 87.6 88.0 Shares issuable under share-based compensation plans 0.5 0.4 Weighted-average number of diluted shares 88.1 88.4

Net Revenues (Tables)

Net Revenues (Tables)	3 Months Ended
Net Revenues (Tables)	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following tables show the Company’s Net revenues related to both tangible product sales and services for the three months ended March 31, 2024 and 2023, respectively, disaggregated by business segment: Three months ended March 31, 2024 In millions Allegion Americas Allegion International Total Net revenues Products $ 666.8 $ 178.9 $ 845.7 Services 42.5 5.7 48.2 Total Net revenues $ 709.3 $ 184.6 $ 893.9 Three months ended March 31, 2023 In millions Allegion Americas Allegion International Total Net revenues Products $ 697.4 $ 175.5 $ 872.9 Services 43.5 6.6 50.1 Total Net revenues $ 740.9 $ 182.1 $ 923.0

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
Commitments and Contingencies (Tables)	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Product Warranty Liability	The changes in the standard product warranty liability for the three months ended March 31 were as follows: In millions 2024 2023 Balance at beginning of period $ 20.7 $ 18.2 Reductions for payments (2.6) (2.0) Accruals for warranties issued during the current period 4.4 2.3 Changes to accruals related to preexisting warranties (0.1) — Currency translation (0.2) — Balance at end of period $ 22.2 $ 18.5

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
Business Segment Information (Tables)	Mar. 31, 2024
Segment Reporting [Abstract]
Summary of Operations by Reportable Segments	A summary of operations by reportable segment for the three months ended March 31 was as follows: In millions 2024 2023 Net revenues Allegion Americas $ 709.3 $ 740.9 Allegion International 184.6 182.1 Total $ 893.9 $ 923.0 Segment operating income Allegion Americas $ 187.0 $ 186.6 Allegion International 13.0 10.6 Total 200.0 197.2 Reconciliation to Operating income Unallocated corporate expense (27.9) (26.2) Operating income 172.1 171.0 Reconciliation to earnings before income taxes Interest expense 22.9 23.6 Other income, net (3.7) (0.3) Earnings before income taxes $ 152.9 $ 147.7

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Millions		3 Months Ended
Acquisitions - Narrative (Details) - USD ($) $ in Millions	Jan. 03, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Goodwill		$ 1,436.4		$ 1,443.1
Amortization of intangible assets		15.2	$ 15.8
plano
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 17.5
Goodwill	$ 23
Finite-lived intangible assets acquired, weighted-average useful life	15 years
Business Combination, Consideration Transferred	$ 36.6
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	$ 3.9
Boss Door Controls and Dorcas
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles		13.3
Goodwill		2.3
Business Combination, Consideration Transferred		19.3
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities		$ 3.7

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Inventory, Net [Abstract]
Raw materials	$ 212.7	$ 218.4
Work-in-process	47.4	41.6
Finished goods	188.2	178.5
Total inventories	$ 448.3	$ 438.5

Goodwill (Details)

Goodwill (Details) $ in Millions	3 Months Ended
Goodwill (Details) $ in Millions	Mar. 31, 2024 USD ($)
Goodwill [Roll Forward]
Goodwill, net beginning balance	$ 1,443.1
Goodwill, Acquired During Period	2.3
Currency translation	(9)
Goodwill, net ending balance	1,436.4
Allegion Americas
Goodwill [Roll Forward]
Goodwill, net beginning balance	1,126.7
Goodwill, Acquired During Period	0
Currency translation	(2.2)
Goodwill, net ending balance	1,124.5
Allegion International
Goodwill [Roll Forward]
Goodwill, net beginning balance	316.4
Goodwill, Acquired During Period	2.3
Currency translation	(6.8)
Goodwill, net ending balance	311.9
Goodwill, Impaired, Accumulated Impairment Loss	$ (573.6)

Intangible Assets (Schedule of

Intangible Assets (Schedule of Intangible Assets, net of Goodwill) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Schedule of Acquired Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Finite-lived intangible assets, gross	$ 820.7	$ 817.3
Finite-lived intangible assets, accumulated amortization	(358)	(348.9)
Finite-lived intangible assets, net	462.7	468.4
Intangible assets, gross	923.8	921.7
Intangible assets, net	565.8	572.8
Completed technologies/patents
Schedule of Acquired Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Finite-lived intangible assets, gross	63.8	64.5
Finite-lived intangible assets, accumulated amortization	(37.8)	(36.9)
Finite-lived intangible assets, net	26	27.6
Customer relationships
Schedule of Acquired Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Finite-lived intangible assets, gross	535.4	535.3
Finite-lived intangible assets, accumulated amortization	(188)	(185.2)
Finite-lived intangible assets, net	347.4	350.1
Trade names (finite-lived)
Schedule of Acquired Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Finite-lived intangible assets, gross	145.2	142.2
Finite-lived intangible assets, accumulated amortization	(81.7)	(79.3)
Finite-lived intangible assets, net	63.5	62.9
Other
Schedule of Acquired Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Finite-lived intangible assets, gross	76.3	75.3
Finite-lived intangible assets, accumulated amortization	(50.5)	(47.5)
Finite-lived intangible assets, net	25.8	27.8
Trade Names (indefinite-lived)
Schedule of Acquired Finite-Lived and Indefinite-Lived Intangible Assets by Major Class [Line Items]
Indefinite-lived intangible assets	$ 103.1	$ 104.4

Intangible Assets (Narrative) (

Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Amortization of intangible assets	$ 15.2	$ 15.8
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Intangible amortization expense, year one	57.7
Intangible amortization expense, year two	51.1
Intangible amortization expense, year three	47.9
Intangible amortization expense, year four	41.1
Intangible amortization expense year five	$ 31.8

Debt and Credit Facilities (Sum

Debt and Credit Facilities (Summary of Debt) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total borrowings outstanding	$ 2,022.8	$ 2,025.1
Discounts and debt issuance costs, net	(9.5)	(10.1)
Total debt	2,013.3	2,015
Less current portion of long-term debt	413.2	412.6
Total long-term debt	1,600.1	1,602.4
Other debt
Debt Instrument [Line Items]
Total borrowings outstanding	0.9	0.1
Line of Credit \| Term Loan
Debt Instrument [Line Items]
Total borrowings outstanding	$ 221.9	225
Senior Notes \| 3.200% Senior Note due 2024
Debt Instrument [Line Items]
Stated interest rate	3.20%
Total borrowings outstanding	$ 400	400
Senior Notes \| 3.550% Senior Note due 2027
Debt Instrument [Line Items]
Stated interest rate	3.55%
Total borrowings outstanding	$ 400	400
Senior Notes \| 3.500% Senior Notes Due 2029
Debt Instrument [Line Items]
Stated interest rate	3.50%
Total borrowings outstanding	$ 400	400
Senior Notes \| 5.411% Senior Notes Due 2032
Debt Instrument [Line Items]
Stated interest rate	5.411%
Total borrowings outstanding	$ 600	$ 600

Debt and Credit Facilities (Nar

Debt and Credit Facilities (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Total borrowings outstanding	$ 2,022.8	$ 2,025.1
Line of Credit
Debt Instrument [Line Items]
Interest rate	6.472%
Investment, Basis Spread, Variable Rate	1.125%
Line of Credit \| Minimum
Debt Instrument [Line Items]
Variable rate	0.875%
Line of Credit \| Maximum
Debt Instrument [Line Items]
Variable rate	1.375%
Line of Credit \| Term Loan
Debt Instrument [Line Items]
Principal amount	$ 250
Total borrowings outstanding	221.9	225
Repayment of debt	$ 3.1
Line of Credit \| Term Loan \| 3/31/22 through 3/31/25
Debt Instrument [Line Items]
Repayment terms	1.25
Line of Credit \| Term Loan \| 6/30/25 through 11/18/26
Debt Instrument [Line Items]
Repayment terms	2.5
Line of Credit \| Revolving Facility
Debt Instrument [Line Items]
Line of credit facility, borrowing capacity	$ 500
Line of Credit Facility, Capacity available for issuance of letters of credit	100
Letters of credit outstanding amount	18.3
Senior Notes \| 3.200% Senior Note due 2024
Debt Instrument [Line Items]
Principal amount	400
Total borrowings outstanding	$ 400	400
Stated interest rate	3.20%
Senior Notes \| 3.550% Senior Note due 2027
Debt Instrument [Line Items]
Principal amount	$ 400
Total borrowings outstanding	$ 400	400
Stated interest rate	3.55%
Senior Notes \| 3.500% Senior Notes Due 2029
Debt Instrument [Line Items]
Principal amount	$ 400
Total borrowings outstanding	$ 400	400
Stated interest rate	3.50%
Senior Notes \| 5.411% Senior Notes Due 2032
Debt Instrument [Line Items]
Principal amount	$ 600
Total borrowings outstanding	$ 600	$ 600
Stated interest rate	5.411%

Financial Instruments (Narrativ

Financial Instruments (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Currency derivatives
Derivative [Line Items]
Derivatives, notional amount	$ 161.2	$ 175.4

Leases - Operating Lease Asset

Leases - Operating Lease Asset and Liability, and Other Information (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Lessee, Lease, Description
ROU Asset	$ 148.2	$ 148.1
Lease liability - current	34.3	33.7
Lease liability - noncurrent	117.1	117.3
Real estate
Lessee, Lease, Description
ROU Asset	111.6	114.7
Lease liability - current	18.6	18.7
Lease liability - noncurrent	$ 96.3	$ 98.9
Weighted-average remaining term (years)	11 years 6 months	11 years 7 months 6 days
Weighted-average discount rate	5%	5%
Equipment
Lessee, Lease, Description
ROU Asset	$ 36.6	$ 33.4
Lease liability - current	15.7	15
Lease liability - noncurrent	$ 20.8	$ 18.4
Weighted-average remaining term (years)	2 years 9 months 18 days	2 years 8 months 12 days
Weighted-average discount rate	4.90%	4.40%

Leases - Operating Leases, Addi

Leases - Operating Leases, Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Lessee, Lease, Description
Cash paid for amounts included in the measurement of lease liabilities	$ 11.4	$ 10.4
ROU assets obtained in exchange for new lease liabilities	6.1	43.3
Real estate
Lessee, Lease, Description
Cash paid for amounts included in the measurement of lease liabilities	6.3	5.9
ROU assets obtained in exchange for new lease liabilities	2.3	41.4
Equipment
Lessee, Lease, Description
Cash paid for amounts included in the measurement of lease liabilities	5.1	4.5
ROU assets obtained in exchange for new lease liabilities	$ 3.8	$ 1.9

Leases - Operating Lease Liabil

Leases - Operating Lease Liability Maturity (Details) $ in Millions	Mar. 31, 2024 USD ($)
Lessee, Lease, Description
Remainder of 2024	$ 31.4
2025	35.3
2026	25.8
2027	18.8
2028	11.6
Thereafter	74.9
Total	197.8
Real estate
Lessee, Lease, Description
Remainder of 2024	18
2025	22.3
2026	18.8
2027	14.9
2028	9.6
Thereafter	74.8
Total	158.4
Equipment
Lessee, Lease, Description
Remainder of 2024	13.4
2025	13
2026	7
2027	3.9
2028	2
Thereafter	0.1
Total	$ 39.4

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
Leases - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Leases [Abstract]
Total rental expense	$ 15.5	$ 13.6
Rental expense related to short-term leases, variable lease payments, or other leases not included in lease liability	4.1	3.2
Imputed interest	46.4
ROU Asset	148.2		$ 148.1
ROU assets obtained in exchange for new lease liabilities	6.1	43.3
Real estate
ROU Asset	111.6		$ 114.7
ROU assets obtained in exchange for new lease liabilities	$ 2.3	$ 41.4

Defined Benefit Plans (Componen

Defined Benefit Plans (Components of Net Periodic Pension Costs) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Employer contributions expected during the remainder of the year	$ 3.7
U.S.
Service cost	0.2	$ 0.2
Interest cost	2.9	2.9
Expected return on plan assets	(3.8)	(3.7)
Administrative costs and other	0.3	0.3
Prior service costs	0.1	0
Plan net actuarial losses	0.2	0.2
Net periodic pension benefit cost (income)	(0.1)	(0.1)
Non-U.S.
Service cost	0.4	0.4
Interest cost	3	3
Expected return on plan assets	(4)	(3.9)
Administrative costs and other	0.4	0.4
Plan net actuarial losses	0.9	0.9
Net periodic pension benefit cost (income)	$ 0.7	$ 0.8

Defined Benefit Plans (Narrativ

Defined Benefit Plans (Narrative) (Details) $ in Millions	Mar. 31, 2024 USD ($)
Retirement Benefits, Description [Abstract]
Employer contributions expected during the remainder of the year	$ 3.7

Fair Value Measurements (Tabl_2

Fair Value Measurements (Tables) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Assets, fair value measurements [Abstract]
Investments	$ 15.8	$ 18
Total asset recurring fair value measurements	15.8	18
Liabilities, fair value measurements [Abstract]
Deferred compensation and other retirement plans	16	18.2
Total liability recurring fair value measurements	16	18.2
Fair Value Measurements, Nonrecurring Value Measurement [Abstract]
Total debt	1,966.8	1,984.9
Total financial instruments not carried at fair value	1,966.8	1,984.9
Quoted prices in active markets for identical assets (Level 1)
Assets, fair value measurements [Abstract]
Investments	0	0
Total asset recurring fair value measurements	0	0
Liabilities, fair value measurements [Abstract]
Deferred compensation and other retirement plans	0	0
Total liability recurring fair value measurements	0	0
Fair Value Measurements, Nonrecurring Value Measurement [Abstract]
Total debt	0	0
Total financial instruments not carried at fair value	0	0
Significant other observable inputs (Level 2)
Assets, fair value measurements [Abstract]
Investments	15.8	18
Total asset recurring fair value measurements	15.8	18
Liabilities, fair value measurements [Abstract]
Deferred compensation and other retirement plans	16	18.2
Total liability recurring fair value measurements	16	18.2
Fair Value Measurements, Nonrecurring Value Measurement [Abstract]
Total debt	1,966.8	1,984.9
Total financial instruments not carried at fair value	1,966.8	1,984.9
Significant unobservable inputs (Level 3)
Assets, fair value measurements [Abstract]
Investments	0	0
Total asset recurring fair value measurements	0	0
Liabilities, fair value measurements [Abstract]
Deferred compensation and other retirement plans	0	0
Total liability recurring fair value measurements	0	0
Fair Value Measurements, Nonrecurring Value Measurement [Abstract]
Total debt	0	0
Total financial instruments not carried at fair value	$ 0	$ 0

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Debt and equity investments without readily determinable fair values	$ 65.8	$ 65.8

Equity (Components of Sharehold

Equity (Components of Shareholders' Equity Rollforward) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 1,318.3	$ 944.5
Net earnings	123.8	123.6
Other comprehensive income (loss), net of tax	(24)	10.3
Repurchase of ordinary shares	(40)	0
Share-based compensation activity	14.8	5.7
Dividends to ordinary shareholders ($0.48 per share)	(42)	(39.5)
Ending balance	$ 1,350.9	$ 1,044.6
Dividends per share (in dollars per share)	$ 0.48	$ 0.45
Ordinary shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 0.9	$ 0.9
Beginning balance (in shares)	87.5	87.9
Repurchase of ordinary shares	$ 0
Repurchase of ordinary shares (in shares)	(0.3)
Share-based compensation activity, shares (in shares)	0.2	0
Ending balance	$ 0.9	$ 0.9
Ending balance (in shares)	87.4	87.9
Capital in excess of par value
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 0	$ 13.9
Repurchase of ordinary shares	(14.8)
Share-based compensation activity	14.8	5.7
Ending balance	0	19.6
Retained earnings
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,578.9	1,212.8
Net earnings	123.8	123.5
Repurchase of ordinary shares	(25.2)
Dividends to ordinary shareholders ($0.48 per share)	(42)	(39.5)
Ending balance	1,635.5	1,296.8
Accumulated other comprehensive loss
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(261.5)	(285.8)
Other comprehensive income (loss), net of tax	(24)	10.2
Ending balance	$ (285.5)	(275.6)
Noncontrolling interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance		2.7
Net earnings		0.1
Other comprehensive income (loss), net of tax		0.1
Ending balance		$ 2.9

Equity (Schedule of Accumulated

Equity (Schedule of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accumulated Other Comprehensive Loss Roll Forward
Beginning balance	$ (261.5)	$ (285.8)
Other comprehensive income (loss) before reclassifications	(24.8)	9.1
Amounts reclassified from accumulated other comprehensive loss	1.1	0.8
Tax expense	(0.3)	0.3
Ending balance	(285.5)	(275.6)
Cash flow hedges
Accumulated Other Comprehensive Loss Roll Forward
Beginning balance	5.6	6.1
Other comprehensive income (loss) before reclassifications	0.7	(0.7)
Amounts reclassified from accumulated other comprehensive loss	(0.1)	(0.2)
Tax expense	(0.2)	0.2
Ending balance	6	5.4
Defined benefit items
Accumulated Other Comprehensive Loss Roll Forward
Beginning balance	(125.9)	(117.1)
Other comprehensive income (loss) before reclassifications	0.9	(1.9)
Amounts reclassified from accumulated other comprehensive loss	1.2	1
Tax expense	(0.1)	0.1
Ending balance	(123.9)	(117.9)
Foreign currency items
Accumulated Other Comprehensive Loss Roll Forward
Beginning balance	(141.2)	(174.8)
Other comprehensive income (loss) before reclassifications	(26.4)	11.7
Amounts reclassified from accumulated other comprehensive loss	0	0
Tax expense	0	0
Ending balance	$ (167.6)	$ (163.1)

Equity (Narrative) (Details)

Equity (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
Equity (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Equity, Class of Treasury Stock [Line Items]
Payments for repurchase of ordinary shares	$ 40	$ 0
Stock Repurchase Program, Remaining authorized repurchase amount	420
2020 Share Repurchase Authorization
Equity, Class of Treasury Stock [Line Items]
Authorized repurchase amount	$ 500

Share-Based Compensation (Share

Share-Based Compensation (Share-Based Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expense (benefit)	$ 9.6	$ 8.8
Tax benefit	(0.9)	(1.2)
After-tax expense	8.7	7.6
Stock options
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expense (benefit)	2.1	2.1
Restricted Stock Units (RSUs)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expense (benefit)	5.4	5
Performance Share Units (PSUs)
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share based compensation expense (benefit)	$ 2.1	$ 1.7

Share-Based Compensation (Grant

Share-Based Compensation (Grants of Stock Options and RSUs) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Stock options
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Equity awards, granted, in shares	127,046	156,929
Weighted-average fair value per award, in dollars per share	$ 40.92	$ 33.66
Restricted Stock Units (RSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Equity awards, granted, in shares	83,328	117,923
Weighted-average fair value per award, in dollars per share	$ 130.29	$ 112.59

Share-Based Compensation (Avera

Share-Based Compensation (Average Fair Value of Stock Options Granted, Assumptions) (Details)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Dividend yield	1.47%	1.60%
Volatility	29.29%	28.47%
Risk-free rate of return	4.29%	4.10%
Expected life (years)	6 years	6 years

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) shares in Millions	3 Months Ended
	Mar. 31, 2024 shares
Performance Share Units (PSUs)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Maximum award level for eligible employees (in shares)	0.1

Restructuring Activities (Sched

Restructuring Activities (Schedule of Changes in Restructuring Reserve) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Restructuring reserve beginning balance	$ 1.9
Additions, net of reversals	0.4
Cash payments	(1.9)
Restructuring reserve ending balance	$ 0.4

Restructuring Activities (Narra

Restructuring Activities (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Qualified restructuring
Restructuring Cost and Reserve [Line Items]
Expenses recorded associated with restructuring activities	$ 0.4	$ 3

Other Income, Net (Details)

Other Income, Net (Details) - USD ($) $ in Millions	3 Months Ended
Other Income, Net (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Other Income and Expenses [Abstract]
Interest income	$ (3.6)	$ (0.7)
Foreign currency exchange loss	1.2	1.4
Other	(1.3)	(1)
Other income, net	$ (3.7)	$ (0.3)

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended
Income Taxes (Details)	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate (percent)	19%	16.30%

Earnings Per Share (EPS) (Detai

Earnings Per Share (EPS) (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Weighted-average number of basic shares (in shares)	87.6	88
Shares issuable under share-based compensation plans (in shares)	0.5	0.4
Weighted-average number of diluted shares (in shares)	88.1	88.4

Earnings Per Share (EPS) (Narra

Earnings Per Share (EPS) (Narrative) (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings Per Share [Abstract]
Antidilutive stock options excluded from computation of weighted-average diluted shares outstanding (in shares)	0.3	0.5

Net Revenues (Details)

Net Revenues (Details) - USD ($) $ in Millions	3 Months Ended
Net Revenues (Details) - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Net revenues	$ 893.9	$ 923
Allegion Americas \| Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	709.3	740.9
Allegion International \| Operating Segments
Disaggregation of Revenue [Line Items]
Net revenues	184.6	182.1
Products
Disaggregation of Revenue [Line Items]
Net revenues	845.7	872.9
Products \| Allegion Americas
Disaggregation of Revenue [Line Items]
Net revenues	666.8	697.4
Products \| Allegion International
Disaggregation of Revenue [Line Items]
Net revenues	178.9	175.5
Services
Disaggregation of Revenue [Line Items]
Net revenues	48.2	50.1
Services \| Allegion Americas
Disaggregation of Revenue [Line Items]
Net revenues	42.5	43.5
Services \| Allegion International
Disaggregation of Revenue [Line Items]
Net revenues	$ 5.7	$ 6.6

Net Revenues (Narrative) (Detai

Net Revenues (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Deferred Revenue	$ 27	$ 18.3

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Environmental Remediation Obligations [Line Items]
Reserves for environmental matters	$ 19.6	$ 20.2
Reserves for environmental matters, current	3	3.6
Segment, Discontinued Operations
Environmental Remediation Obligations [Line Items]
Reserves for environmental matters	$ 10.8	$ 11.2

Commitments and Contingencies_3

Commitments and Contingencies (Product Warranty Liability) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Movement in Standard Product Warranty Liability [Roll Forward]
Balance at beginning of period	$ 20.7	$ 18.2
Reductions for payments	(2.6)	(2)
Accruals for warranties issued during the current period	4.4	2.3
Changes to accruals related to preexisting warranties	(0.1)	0
Currency translation	(0.2)	0
Balance at end of period	$ 22.2	$ 18.5

Business Segment Information (S

Business Segment Information (Summary of Operations by Reportable Segments) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Net revenues	$ 893.9	$ 923
Operating income (loss)	172.1	171
Interest expense	22.9	23.6
Other income, net	(3.7)	(0.3)
Earnings before income taxes	152.9	147.7
Operating Segments
Segment Reporting Information [Line Items]
Operating income (loss)	200	197.2
Operating Segments \| Allegion Americas
Segment Reporting Information [Line Items]
Net revenues	709.3	740.9
Operating income (loss)	187	186.6
Operating Segments \| Allegion International
Segment Reporting Information [Line Items]
Net revenues	184.6	182.1
Operating income (loss)	13	10.6
Corporate, Non-Segment
Segment Reporting Information [Line Items]
Operating income (loss)	$ (27.9)	$ (26.2)

Business Segment Information Na

Business Segment Information Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($) segment	Mar. 31, 2023 USD ($)
Segment Reporting [Abstract]
Number of reportable segments \| segment	2
Net revenues	$ 893.9	$ 923
Operating Income (Loss)	172.1	171
Operating Segments
Operating Income (Loss)	200	197.2
Operating Segments \| Allegion Americas
Net revenues	709.3	740.9
Operating Income (Loss)	187	186.6
Operating Segments \| Allegion International
Net revenues	184.6	182.1
Operating Income (Loss)	$ 13	$ 10.6

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event	Apr. 11, 2024 $ / shares
Subsequent Event [Line Items]
Dividends declared per ordinary share (in dollars per share)	$ 0.48
Dividends Payable, Date to be Paid	Jun. 28, 2024
Dividends Payable, Date Declared	Apr. 11, 2024
Dividends Payable, Date of Record	Jun. 14, 2024