Pay vs Performance Disclosure | 12 Months Ended |
Dec. 31, 2022 USD ($) $ / shares | Dec. 31, 2021 USD ($) $ / shares | Dec. 31, 2020 USD ($) $ / shares | Dec. 31, 2019 $ / shares |
Pay vs Performance Disclosure [Table] | | | | |
Pay vs Performance [Table Text Block] | Pay versus Performance As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about the executive compensation actually paid to our Named Executive Officers as defined by Item 402(v) and our financial performance during the years 2022, 2021 and 2020. (a) (b) (c) (d) (e) (f) (g) (h) (i) Year Summary (1) Compensation (2) Average (3) Average (2) Value of Initial Fixed $100 Net Income Adjusted (4) nVent TSR Peer group 2022 7,912,415 11,421,671 2,060,895 2,629,748 $ 163 $ 132 $ 400 $ 2,970 2021 10,651,343 18,561,232 2,350,052 4,036,555 $ 158 $ 150 $ 273 $ 2,374 2020 6,322,870 3,827,958 1,407,410 1,033,570 $ 94 $ 116 $ (47 ) $ 1,990 (1) The principal executive officer (“PEO”) for all years shown in the table is Ms. Wozniak. (2) To calculate Compensation Actually Paid (CAP), the following amounts were deducted from and added to the Summary Compensation Table (SCT) total compensation: PEO SCT Total to CAP Reconciliation: (a) (b) (c) (d) (e) (f) (g) (h) = (a) - (b) - (c) + SCT Total Grant Date Change in Fair Value of (i) Change in (i) Change in (i)(ii) Pension (i) CAP 2022 7,912,415 5,000,017 0 6,315,713 679,593 1,220,596 293,371 11,421,671 2021 10,651,343 6,999,739 717,005 11,714,793 4,084,609 (535,993 ) 363,224 18,561,232 2020 6,322,870 4,500,018 535,164 4,016,602 (403,930 ) (1,386,014 ) 313,612 3,827,958 Average Non-PEO Named Executive Officers SCT Total to CAP Reconciliation: (a) (b) (c) (d) (e) (f) (g) (h) = (a) - (b) - (c) + SCT Total Grant Date Change in Fair Value of (i) Change in (i) Change in (i)(ii) Pension (i) CAP 2022 2,060,895 925,011 — 1,168,416 116,087 209,361 — 2,629,748 2021 2,350,052 1,249,938 — 2,087,414 793,865 55,162 — 4,036,555 2020 1,407,410 837,508 — 747,538 (91,638 ) (192,232 ) — 1,033,570 (i) Reflects the fair value of equity calculated in accordance with the SEC methodology for determining CAP for each year shown, and the service cost for our PEO as defined in FASB ASC Topic 715. The value for restricted stock unit awards included represents our closing stock price on the vesting date or the last trading day of the year for each year reported in the proxy. The fair values and associated assumptions for our performance share units (“PSUs”) and stock option awards are shown in the table below. We estimated the fair value of each stock option award in accordance with FASB ASC Topic 718 using a Black-Scholes option pricing model, modified for dividends and using the weighted average assumptions outlined in the table below. These estimates require us to make assumptions based on historical results, observance of trends in our peer group’s share prices, changes in option exercise behavior, future expectations and other relevant factors. We based the expected life assumption on historical experience (including Pentair’s historical experience for periods prior to the Separation) as well as terms and vesting periods of the options granted. For purposes of determining expected volatility, we considered a rolling average of our comparator group measured over a period approximately equal to the expected option term. The risk-free rate of periods that coincide with the expected life of the options is based on the U.S. Treasury Department yield curve in effect at the time of grant. Calendar Year 2019 2020 2021 2022 Adj. EPS Performance Share Units Fair Values $25.58 $23.29 $38.00 $38.47 Projected Vesting Achievement 100% 0% – 100% 50% – 100% 142% Relative TSR Performance Share Units Fair Values — — $65.06 $56.74 – 74.21 Valuation Date Stock Price — — $38.00 $38.47 Volatility — — 41.7% 42.6% Peer Group Volatility — — 27.1% – 94.5% 29.7% – 100.8% Average Correlation — — 51.2% 52.9% – 53.0% Risk-Free Interest Rate — — 0.73% 4.41% – 4.73% Accrued Dividends — — $0.525 $0.525 – 1.225 Stock Options Fair Values $4.01 – 6.14 $3.54 – 5.20 $5.53 – 15.38 $9.13 – 13.81 Exercise Price $20.22 – 27.77 $20.22 – 27.77 $22.51 – 27.77 $25.92 – 33.43 Valuation Date Stock Price $25.58 $23.29 – 24.01 $27.55 – 38.00 $33.43 – 38.47 Volatility 26.1% 26.4% – 32.8% 32.6% – 33.3% 26.3% – 33.3% Risk-Free Interest Rate 1.61% 0.37% – 1.53% 0.46% – 1.18% 1.51% – 4.0% Dividend Yield 3.01% 2.72% – 3.32% 1.97% – 2.94% 1.90% – 1.95% Expected Life (years) 6.1 6.1 – 6.5 6.2 – 6.5 6.2 Expected Remaining Term (years) 2.7 – 5.6 3.1 – 5.6 3.3 – 5.5 3.2 – 5.5 (ii) Includes the value of accrued Dividend Equivalent Units that were paid in cash at the time of vesting. (3) The non-PEO Named Executive Officers reflected in columns (d) and (e) represent the following individuals for 2022: Ms. Zawoyski, Mr. Ruzynski, Mr. Lammers and Mr. Padmanabhan, and for 2020 and 2021: Ms. Zawoyski, Mr. Ruzynski, Mr. Lammers, and Ms. Heath. (4) The total in column (i) reflects the actual results for adjusted revenue as reflected under “Annual Incentives” beginning on page 40 | | | |
Company Selected Measure Name | Adjusted Revenue | | | |
Named Executive Officers, Footnote [Text Block] | (1) The principal executive officer (“PEO”) for all years shown in the table is Ms. Wozniak. (3) The non-PEO Named Executive Officers reflected in columns (d) and (e) represent the following individuals for 2022: Ms. Zawoyski, Mr. Ruzynski, Mr. Lammers and Mr. Padmanabhan, and for 2020 and 2021: Ms. Zawoyski, Mr. Ruzynski, Mr. Lammers, and Ms. Heath. | | | |
PEO Total Compensation Amount | $ 7,912,415 | $ 10,651,343 | $ 6,322,870 | |
PEO Actually Paid Compensation Amount | $ 11,421,671 | 18,561,232 | 3,827,958 | |
Adjustment To PEO Compensation, Footnote [Text Block] | (2) To calculate Compensation Actually Paid (CAP), the following amounts were deducted from and added to the Summary Compensation Table (SCT) total compensation: PEO SCT Total to CAP Reconciliation: (a) (b) (c) (d) (e) (f) (g) (h) = (a) - (b) - (c) + SCT Total Grant Date Change in Fair Value of (i) Change in (i) Change in (i)(ii) Pension (i) CAP 2022 7,912,415 5,000,017 0 6,315,713 679,593 1,220,596 293,371 11,421,671 2021 10,651,343 6,999,739 717,005 11,714,793 4,084,609 (535,993 ) 363,224 18,561,232 2020 6,322,870 4,500,018 535,164 4,016,602 (403,930 ) (1,386,014 ) 313,612 3,827,958 Average Non-PEO Named Executive Officers SCT Total to CAP Reconciliation: (a) (b) (c) (d) (e) (f) (g) (h) = (a) - (b) - (c) + SCT Total Grant Date Change in Fair Value of (i) Change in (i) Change in (i)(ii) Pension (i) CAP 2022 2,060,895 925,011 — 1,168,416 116,087 209,361 — 2,629,748 2021 2,350,052 1,249,938 — 2,087,414 793,865 55,162 — 4,036,555 2020 1,407,410 837,508 — 747,538 (91,638 ) (192,232 ) — 1,033,570 (i) Reflects the fair value of equity calculated in accordance with the SEC methodology for determining CAP for each year shown, and the service cost for our PEO as defined in FASB ASC Topic 715. The value for restricted stock unit awards included represents our closing stock price on the vesting date or the last trading day of the year for each year reported in the proxy. The fair values and associated assumptions for our performance share units (“PSUs”) and stock option awards are shown in the table below. We estimated the fair value of each stock option award in accordance with FASB ASC Topic 718 using a Black-Scholes option pricing model, modified for dividends and using the weighted average assumptions outlined in the table below. These estimates require us to make assumptions based on historical results, observance of trends in our peer group’s share prices, changes in option exercise behavior, future expectations and other relevant factors. We based the expected life assumption on historical experience (including Pentair’s historical experience for periods prior to the Separation) as well as terms and vesting periods of the options granted. For purposes of determining expected volatility, we considered a rolling average of our comparator group measured over a period approximately equal to the expected option term. The risk-free rate of periods that coincide with the expected life of the options is based on the U.S. Treasury Department yield curve in effect at the time of grant. Calendar Year 2019 2020 2021 2022 Adj. EPS Performance Share Units Fair Values $25.58 $23.29 $38.00 $38.47 Projected Vesting Achievement 100% 0% – 100% 50% – 100% 142% Relative TSR Performance Share Units Fair Values — — $65.06 $56.74 – 74.21 Valuation Date Stock Price — — $38.00 $38.47 Volatility — — 41.7% 42.6% Peer Group Volatility — — 27.1% – 94.5% 29.7% – 100.8% Average Correlation — — 51.2% 52.9% – 53.0% Risk-Free Interest Rate — — 0.73% 4.41% – 4.73% Accrued Dividends — — $0.525 $0.525 – 1.225 Stock Options Fair Values $4.01 – 6.14 $3.54 – 5.20 $5.53 – 15.38 $9.13 – 13.81 Exercise Price $20.22 – 27.77 $20.22 – 27.77 $22.51 – 27.77 $25.92 – 33.43 Valuation Date Stock Price $25.58 $23.29 – 24.01 $27.55 – 38.00 $33.43 – 38.47 Volatility 26.1% 26.4% – 32.8% 32.6% – 33.3% 26.3% – 33.3% Risk-Free Interest Rate 1.61% 0.37% – 1.53% 0.46% – 1.18% 1.51% – 4.0% Dividend Yield 3.01% 2.72% – 3.32% 1.97% – 2.94% 1.90% – 1.95% Expected Life (years) 6.1 6.1 – 6.5 6.2 – 6.5 6.2 Expected Remaining Term (years) 2.7 – 5.6 3.1 – 5.6 3.3 – 5.5 3.2 – 5.5 (ii) Includes the value of accrued Dividend Equivalent Units that were paid in cash at the time of vesting. | | | |
Non-PEO NEO Average Total Compensation Amount | $ 2,060,895 | 2,350,052 | 1,407,410 | |
Non-PEO NEO Average Compensation Actually Paid Amount | $ 2,629,748 | 4,036,555 | 1,033,570 | |
Compensation Actually Paid vs. Total Shareholder Return [Text Block] | 1. Compensation Actually Paid (“CAP”) versus TSR for Company and Peer Group As disclosed in our Proxy Statement for our 2021 annual general meeting of shareholders, the effects of the COVID-19 pandemic had an unfavorable impact on our business in 2020. We successfully emerged and delivered strong TSR performance relative to the TSR of the S&P 400 Industrials during 2021 and 2022. Our 3-year cumulative TSR is 23% above the S&P 400 industrials index at the end of the 3-year period. The PEO’s and other NEOs’ CAP amounts are aligned with our TSR. This is due primarily to our use of equity incentives, which are tied directly to stock price in addition to the company’s financial performance. Additional information about our annual and long-term incentive programs begins on page 40 | | | |
Compensation Actually Paid vs. Net Income [Text Block] | 2. CAP versus Net Income As illustrated in the chart, our net income significantly increased between 2020-2022. The Company does not use net income to determine compensation levels or incentive plan payouts. Additional information about our annual and long-term incentive programs begins on page 40 | | | |
Compensation Actually Paid vs. Company Selected Measure [Text Block] | 3. CAP versus Company-Selected Measure (“CSM”): Adjusted Revenue Our Adjusted Revenue* was up 25% year-over year. Adjusted Revenue is a key metric in our annual incentive program which comprised 17% of the 2022 target total direct compensation for our PEO, and 22% on average for Non-PEO NEOs. Additional details on our annual incentive program can be found beginning on page 40 *Please see Appendix A for reconciliation of GAAP to non-GAAP financial measures included in this section. | | | |
Tabular List [Table Text Block] | Pay versus Performance Most Important Measures to Determine 2022 Compensation Actually Paid The four items listed below represent the most important metrics we used to determine CAP for 2022 as further described above under the sections titled “Annual Incentives” and “Long-Term Incentives.” Most Important Performance Adjusted Revenue Adjusted Earnings Per Share Free Cash Flow Relative Total Shareholder Return | | | |
Total Shareholder Return Amount | $ 163 | 158 | 94 | |
Peer Group Total Shareholder Return Amount | 132 | 150 | 116 | |
Net Income (Loss) | $ 400,000,000 | $ 273,000,000 | $ (47,000,000) | |
Company Selected Measure Amount | 2,970,000,000 | 2,374,000,000 | 1,990,000,000 | |
PEO Name | Ms. Wozniak | Ms. Wozniak | Ms. Wozniak | |
Adjustments To Revenue Included Foreign Exchange Impact | $ 61,000,000 | | | |
Measure [Axis]: 1 | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Measure Name | Adjusted Revenue | | | |
Non-GAAP Measure Description [Text Block] | (4) The total in column (i) reflects the actual results for adjusted revenue as reflected under “Annual Incentives” beginning on page 40 | | | |
Measure [Axis]: 2 | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Measure Name | Adjusted Earnings Per Share | | | |
Measure [Axis]: 3 | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Measure Name | Free Cash Flow | | | |
Measure [Axis]: 4 | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Measure Name | Relative Total Shareholder Return | | | |
Equity Awards Adjustments, EPS Performance Share Units [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Fair Value Price | $ / shares | $ 38.47 | $ 38 | $ 23.29 | $ 25.58 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Projected Vesting Achievement | 142% | | | 100% |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Projected Vesting Achievement, Minimum | | 50% | 0% | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Projected Vesting Achievement, Minimum | | 100% | 100% | |
Equity Awards Adjustments, TSR Performance Share Units [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Fair Value Price | $ / shares | | $ 65.06 | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Fair Value Price, Minimum | $ / shares | $ 56.74 | | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Fair Value Price, Maximum | $ / shares | 74.21 | | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Stock Price | $ / shares | $ 38.47 | $ 38 | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 42.60% | 41.70% | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Peer Group Volatility Rate, Minimum | 29.70% | 27.10% | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Peer Group Volatility Rate, Maximum | 100.80% | 94.50% | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Average Correlation Rate | | 51.20% | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Average Correlation Rate, Minimum | 52.90% | | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Average Correlation Rate, Maximum | 53% | | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | | 0.73% | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 4.41% | | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum | 4.73% | | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Accrued Dividends | $ / shares | | $ 0.525 | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Accrued Dividends, Minimum | $ / shares | $ 0.525 | | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Accrued Dividends, Maximum | $ / shares | 1.225 | | | |
Equity Awards Adjustments, Stock Options, Fair Value Assumptions [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Fair Value Price, Minimum | $ / shares | 9.13 | 5.53 | $ 3.54 | $ 4.01 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Fair Value Price, Maximum | $ / shares | $ 13.81 | $ 15.38 | $ 5.2 | 6.14 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Stock Price | $ / shares | | | | $ 25.58 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate | | | | 26.10% |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | | | | 1.61% |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 1.51% | 0.46% | 0.37% | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum | 4% | 1.18% | 1.53% | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Exercise Price, Minimum | $ / shares | $ 25.92 | $ 22.51 | $ 20.22 | $ 20.22 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Exercise Price, Maximum | $ / shares | 33.43 | 27.77 | 27.77 | $ 27.77 |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Stock Price, Minimum | $ / shares | 33.43 | 27.55 | 23.29 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Stock Price, Maximum | $ / shares | $ 38.47 | $ 38 | $ 24.01 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 26.30% | 32.60% | 26.40% | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 33.30% | 33.30% | 32.80% | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate | | | | 3.01% |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate, Minimum | 1.90% | 1.97% | 2.72% | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate, Maximum | 1.95% | 2.94% | 3.32% | |
PEO [Member] | Grant Date Fair Value of Equity Granted [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | $ 5,000,017 | $ 6,999,739 | $ 4,500,018 | |
PEO [Member] | Change In Pension Value [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | 0 | 717,005 | 535,164 | |
PEO [Member] | Fair Value of Current Year Equity Awards [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | 6,315,713 | 11,714,793 | 4,016,602 | |
PEO [Member] | Change in Value of Prior Years Awards Unvested [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | 679,593 | 4,084,609 | (403,930) | |
PEO [Member] | Change in Value of Prior Years Award That Vested [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | 1,220,596 | (535,993) | (1,386,014) | |
PEO [Member] | Pension Adjustments Service Cost [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | 293,371 | 363,224 | 313,612 | |
Non-PEO NEO [Member] | Grant Date Fair Value of Equity Granted [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | 925,011 | 1,249,938 | 837,508 | |
Non-PEO NEO [Member] | Fair Value of Current Year Equity Awards [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | 1,168,416 | 2,087,414 | 747,538 | |
Non-PEO NEO [Member] | Change in Value of Prior Years Awards Unvested [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | 116,087 | 793,865 | (91,638) | |
Non-PEO NEO [Member] | Change in Value of Prior Years Award That Vested [Member] | | | | |
Pay vs Performance Disclosure [Table] | | | | |
Adjustment to Compensation Amount | $ 209,361 | $ 55,162 | $ (192,232) | |