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Selected Quarterly Data (Tables) | 12 Months Ended
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Dec. 31, 2012
Quarterly Financial Information | 2012 and 2011 quarterly financial information:
|  | 2012 |
In thousands, except per-share data |  | First |  |  | Second |  |  | Third |  |  | Fourth |  |  | Year |
Net sales |  | $ | 858,177 |  |  | $ | 941,525 |  |  | $ | 865,512 |  |  | $ | 1,750,932 |  |  | $ | 4,416,146 |
Gross profit |  |  | 280,719 |  |  |  | 312,128 |  |  |  | 278,077 |  |  |  | 398,668 |  |  |  | 1,269,592 |
Operating income (loss) |  |  | 86,474 |  |  |  | 119,314 |  |  |  | 55,199 |  |  |  | (304,106 | ) |  |  | (43,119 | )
Net income (loss) before noncontrolling interest |  |  | 63,099 |  |  |  | 74,430 |  |  |  | 32,595 |  |  |  | (274,736 | ) |  |  | (104,612 | )
Net income (loss) attributable to Pentair Ltd. |  |  | 61,759 |  |  |  | 72,775 |  |  |  | 31,363 |  |  |  | (273,083 | ) |  |  | (107,186 | )
Earnings (loss) per common share attributable to Pentair Ltd. (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.63 |  |  | $ | 0.73 |  |  | $ | 0.31 |  |  | $ | (1.31 | ) |  | $ | (0.84 | )
Diluted |  |  | 0.62 |  |  |  | 0.72 |  |  |  | 0.31 |  |  |  | (1.31 | ) |  |  | (0.84 | )
|  | 2011 |
In thousands, except per-share data |  | First |  |  | Second |  |  | Third |  |  | Fourth |  |  | Year |
Net sales |  | $ | 790,273 |  |  | $ | 910,175 |  |  | $ | 890,546 |  |  | $ | 865,692 |  |  | $ | 3,456,686 |
Gross profit |  |  | 249,059 |  |  |  | 287,736 |  |  |  | 272,062 |  |  |  | 264,865 |  |  |  | 1,073,722 |
Operating income (loss) |  |  | 85,469 |  |  |  | 108,714 |  |  |  | 92,195 |  |  |  | (186,175 | ) |  |  | 100,203 |
Net income (loss) before noncontrolling interest |  |  | 51,602 |  |  |  | 67,705 |  |  |  | 51,610 |  |  |  | (174,068 | ) |  |  | (3,151 | )
Net income (loss) attributable to Pentair Ltd. |  |  | 50,109 |  |  |  | 66,280 |  |  |  | 50,648 |  |  |  | (174,487 | ) |  |  | (7,450 | )
Earnings (loss) per common share attributable to Pentair Ltd. (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.51 |  |  | $ | 0.67 |  |  | $ | 0.51 |  |  | $ | (1.77 | ) |  | $ | (0.08 | )
Diluted |  |  | 0.50 |  |  |  | 0.66 |  |  |  | 0.50 |  |  |  | (1.77 | ) |  |  | (0.08 | )
| (1) | Amounts may not total to annual earnings because each quarter and year are calculated separately based on basic and diluted weighted-average common shares outstanding during that period.
Increase (Reduction) to Previously Reported Quarterly Information | Increase (reduction) to previously reported quarterly information (or for the fourth quarter of 2012, what would have been reported absent the changes in accounting principle):
|  | 2012 |
In thousands, except per-share data |  | First |  |  | Second |  |  | Third |  |  | Fourth |  |  | Year |
Operating income (loss) |  | $ | 1,522 |  |  | $ | 1,522 |  |  | $ | 1,522 |  |  | $ | (146,304 | ) |  | $ | (141,738 | )
Net income (loss) before noncontrolling interest |  |  | 945 |  |  |  | 945 |  |  |  | 945 |  |  |  | (89,296 | ) |  |  | (86,461 | )
Net income (loss) attributable to Pentair Ltd. |  |  | 945 |  |  |  | 945 |  |  |  | 945 |  |  |  | (89,296 | ) |  |  | (86,461 | )
Earnings (loss) per common share attributable to Pentair Ltd. (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.01 |  |  | $ | 0.01 |  |  | $ | 0.01 |  |  | $ | (0.43 | ) |  | $ | (0.68 | )
Diluted |  |  | 0.01 |  |  |  | 0.01 |  |  |  | 0.01 |  |  |  | (0.43 | ) |  |  | (0.68 | )
|  | 2011 |
In thousands, except per-share data |  | First |  |  | Second |  |  | Third |  |  | Fourth |  |  | Year |
Operating income (loss) |  | $ | (708 | ) |  | $ | (708 | ) |  | $ | (708 | ) |  | $ | (66,190 | ) |  | $ | (68,314 | )
Net income (loss) before noncontrolling interest |  |  | (432 | ) |  |  | (432 | ) |  |  | (432 | ) |  |  | (40,376 | ) |  |  | (41,672 | )
Net income (loss) attributable to Pentair Ltd. |  |  | (432 | ) |  |  | (432 | ) |  |  | (432 | ) |  |  | (40,376 | ) |  |  | (41,672 | )
Earnings (loss) per common share attributable to Pentair Ltd. (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.01 | ) |  | $ | (0.01 | ) |  | $ | (0.01 | ) |  | $ | (0.41 | ) |  | $ | (0.42 | )
Diluted |  |  | (0.01 | ) |  |  | (0.01 | ) |  |  | (0.01 | ) |  |  | (0.41 | ) |  |  | (0.42 | )
| (1) | Amounts may not total to annual earnings because each quarter and year are calculated separately based on basic and diluted weighted-average common shares outstanding during that period.

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