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Subsequent Events | 3 Months Ended
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Mar. 31, 2015
Subsequent Events |
Subsequent Events | Note 18 — Subsequent Events On April 1, 2015, Carlisle completed the acquisition of the held separate liquid finishing business of Graco Inc. (“Finishing Brands”) for cash consideration of $590 million, subject to customary working c apital adjustments. The Finishing Brands business had annual sales in 2014 of approximately $275 million and is a global manufacturer and supplier of liquid finishing equipment and systems serving diverse end markets for paints and coatings, including OE automotive, automotive refinishing, aerospace, agriculture, construction, marine, rail and other industrial applications. The business operates from multiple locations in seven countries with approximately 54% of its sales ou tside the United States. Finishing Brands manufactures and sells products under the well-known brand names of Binks®, DeVilbiss®, Ransburg® and BGK. In future periods, Carlisle will report the results of operations of Finishing Brands in a new operating segment named Carlisle Fluid Technologies. On July 5, 2013, a lawsuit was filed against Hunter Panels, LLC (“Hunter Panels”) and Carlisle Construction Materials Incorporated (“CCM”), subsidiaries of the Company, in the United States District Court for the Western District of Pennsylvania, alleging violations under Title VII of the Civil Rights Act (“Title VII”) and the Pennsylvania Human Relations Act (the “PHRA”). On April 17, 2015, the jury returned a verdict in the lawsuit against Hunter Panels and CCM with $920,000 in compensatory and other damages and $12,500,000 in punitive damages. Since Title VII contains a statutory cap for combined compensatory and punitive damages and no punitive damages are allowable under the PHRA, the Company intends to file a motion with the court to amend the verdict accordingly and expects that the amount of damages ultimately to be awarded to the plaintiff will be less than $1,000,000, of which the Company is partially reserved.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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