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Share Plans (Tables) | 12 Months Ended
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Dec. 31, 2012
Stock Option Activity | The following table summarizes stock option activity under all plans for the year ended December 31, 2012:
Options outstanding |  | Shares |  |  | Weighted- average exercise price |  |  | Weighted- average remaining contractual life |  |  | Aggregate intrinsic value |
Beginning balance |  |  | 7,837,696 |  |  | $ | 32.50 |  |  |  |  |  |  |  |  |
Grants assumed in Merger |  |  | 2,791,678 |  |  |  | 28.04 |  |  |  |  |  |  |  |  |
Granted |  |  | 834,918 |  |  |  | 36.05 |  |  |  |  |  |  |  |  |
Exercised |  |  | (2,740,778 | ) |  |  | 29.60 |  |  |  |  |  |  |  |  |
Forfeited |  |  | (83,994 | ) |  |  | 32.64 |  |  |  |  |  |  |  |  |
Expired |  |  | (234,774 | ) |  |  | 38.88 |  |  |  |  |  |  |  |  |
Ending balance |  |  | 8,404,746 |  |  | $ | 32.13 |  |  |  | 5.3 |  |  | $ | 128,370,687 |
Options exercisable as of December 31, 2012 |  |  | 6,931,146 |  |  | $ | 31.99 |  |  |  | 4.7 |  |  | $ | 105,758,171 |
Options expected to vest as of December 31, 2012 |  |  | 1,422,898 |  |  | $ | 32.92 |  |  |  | 8.1 |  |  | $ | 21,763,738 |
Assumptions Used in Calculating Estimated Fair Value of Stock Option Award | We estimated the fair value of each stock option award on the date of grant using a Black-Scholes option pricing model, modified for dividends and using the following weighted average assumptions:
|  | December 31 |
|  | 2012 |  |  | 2011 |  |  | 2010 |
|  | Assumed in Merger |  |  | Granted by Pentair plans |  |  | Granted by Pentair plans |  |  | Granted by Pentair plans |
Risk-free interest rate |  |  | 0.02 - 0.68% |  |  |  | 0.96% |  |  |  | 1.51% |  |  |  | 2.45% |
Expected dividend yield |  |  | 2.12% |  |  |  | 2.48% |  |  |  | 2.32% |  |  |  | 2.30% |
Expected share price volatility |  |  | 33.00% |  |  |  | 36.50% |  |  |  | 35.50% |  |  |  | 35.00% |
Expected term (years) |  |  | 0.1 - 5.1 |  |  |  | 5.7 |  |  |  | 5.5 |  |  |  | 5.5 |
Restricted Share and Restricted Stock Award Activity | The following table summarizes restricted share and restricted stock activity under all plans for the year ended December 31, 2012:
Restricted shares and restricted stock units outstanding |  | Shares |  |  | Weighted average grant date fair value |
Beginning balance |  |  | 1,250,082 |  |  | $ | 30.49 |
Grants assumed in Merger |  |  | 978,756 |  |  |  | 38.85 |
Granted |  |  | 863,310 |  |  |  | 41.56 |
Vested |  |  | (1,420,511 | ) |  |  | 33.17 |
Forfeited |  |  | (78,359 | ) |  |  | 37.22 |
Ending balance |  |  | 1,593,278 |  |  | $ | 38.97 |

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- Definition Tabular disclosure of the number and weighted-average exercise prices (or conversion ratios) for share options (or share units) that were outstanding at the beginning and end of the year, vested and expected to vest, exercisable or convertible at the end of the year, and the number of share options or share units that were granted, exercised or converted, forfeited, and expired during the year. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 + Details
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