XML 56 R45.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Debt - Credit Agreement (Details) € in Millions |  |  |  | 3 Months Ended | 9 Months Ended |  |
--- | --- | --- | --- | --- | --- | --- | ---
Dec. 20, 2016 USD ($) | Dec. 16, 2016 USD ($) | Feb. 12, 2016 USD ($) | Oct. 01, 2017 EUR (€) | Apr. 02, 2017 USD ($) | Oct. 01, 2017 EUR (€) | Oct. 01, 2017 USD ($) | Dec. 16, 2016 EUR (€) | Oct. 02, 2016 USD ($)
Credit Agreement |  |  |  |  |  |  |  |  |
Stand-by letters of credit outstanding |  |  |  |  |  |  | $ 25,700,000 |  | $ 25,600,000
Letters of credit |  |  |  |  |  |  |  |  |
Credit Agreement |  |  |  |  |  |  |  |  |
Term of debt |  |  |  |  |  | 1 year | 1 year |  |
Credit Agreement |  |  |  |  |  |  |  |  |
Credit Agreement |  |  |  |  |  |  |  |  |
Term of debt |  |  | 5 years |  |  |  |  |  |
Sublimit on letters of credit |  |  | $ 100,000,000 |  |  |  |  |  |
Eurocurrency rate loans | LIBOR | Minimum |  |  |  |  |  |  |  |  |
Credit Agreement |  |  |  |  |  |  |  |  |
Interest rate added to base rate (as a percent) |  |  |  |  |  | 0.975% | 0.975% |  |
Eurocurrency rate loans | LIBOR | Maximum |  |  |  |  |  |  |  |  |
Credit Agreement |  |  |  |  |  |  |  |  |
Interest rate added to base rate (as a percent) |  |  |  |  |  | 1.45% | 1.45% |  |
Base rate loans and swing line loans | LIBOR |  |  |  |  |  |  |  |  |
Credit Agreement |  |  |  |  |  |  |  |  |
Interest rate added to base rate (as a percent) |  |  |  |  |  |  | 1.00% |  |
Base rate loans and swing line loans | LIBOR | Minimum |  |  |  |  |  |  |  |  |
Credit Agreement |  |  |  |  |  |  |  |  |
Interest rate added to base rate (as a percent) |  |  |  |  |  | 0.00% | 0.00% |  |
Base rate loans and swing line loans | LIBOR | Maximum |  |  |  |  |  |  |  |  |
Credit Agreement |  |  |  |  |  |  |  |  |
Interest rate added to base rate (as a percent) |  |  |  |  |  | 0.45% | 0.45% |  |
Base rate loans and swing line loans | Federal funds |  |  |  |  |  |  |  |  |
Credit Agreement |  |  |  |  |  |  |  |  |
Interest rate added to base rate (as a percent) |  |  |  |  |  |  | 0.50% |  |
Senior unsecured revolving credit facility |  |  |  |  |  |  |  |  |
Credit Agreement |  |  |  |  |  |  |  |  |
Borrowing capacity |  |  | $ 500,000,000 |  |  |  |  |  |
Amount drawn |  |  |  |  |  |  | $ 162,000,000 |  |
Interest rate on revolving credit facility (as a percent) |  |  |  |  |  |  | 2.56% |  |
Unused and available credit under the credit agreement |  |  |  |  |  |  | $ 312,300,000 |  |
Repayment of debt | $ 113,000,000 |  |  |  |  |  |  |  |
Term loan facility | Term Loan due February 2021 |  |  |  |  |  |  |  |  |
Credit Agreement |  |  |  |  |  |  |  |  |
Term of debt |  |  | 5 years |  |  |  |  |  |
Face amount |  |  | $ 300,000,000 |  |  |  |  |  |
Interest rate on term loan facility (as a percent) |  |  |  |  |  |  | 2.81% |  |
First year (as a percent) |  |  | 0.00% |  |  |  |  |  |
Second and third years (as a percent) |  |  | 7.50% |  |  |  |  |  |
Fourth and fifth years (as a percent) |  |  | 10.00% |  |  |  |  |  |
Amount drawn |  |  |  |  |  |  | $ 300,000,000 |  |
Borrowings outstanding |  |  |  |  |  |  | $ 288,800,000 |  | $ 300,000,000
Repayment of debt |  |  |  |  | $ 11,200,000 |  |  |  |
Term loan facility | LIBOR | Minimum | Term Loan due February 2021 |  |  |  |  |  |  |  |  |
Credit Agreement |  |  |  |  |  |  |  |  |
Interest rate added to base rate (as a percent) |  |  |  |  |  | 1.125% | 1.125% |  |
Term loan facility | LIBOR | Maximum | Term Loan due February 2021 |  |  |  |  |  |  |  |  |
Credit Agreement |  |  |  |  |  |  |  |  |
Interest rate added to base rate (as a percent) |  |  |  |  |  | 1.75% | 1.75% |  |
Facility Agreement |  |  |  |  |  |  |  |  |
Credit Agreement |  |  |  |  |  |  |  |  |
Repayment of debt | € |  |  |  | € 9 |  | € 110 |  |  |
Facility Agreement | Watts International |  |  |  |  |  |  |  |  |
Credit Agreement |  |  |  |  |  |  |  |  |
Borrowing capacity | € |  |  |  |  |  |  |  | € 110 |
Term of debt |  | 364 days |  |  |  |  |  |  |
Frequency of interest payment, first option |  | 1 month |  |  |  |  |  |  |
Frequency of interest payment, second option |  | 2 months |  |  |  |  |  |  |
Frequency of interest payment, third option |  | 3 months |  |  |  |  |  |  |
Facility Agreement | Euro Libor | Watts International |  |  |  |  |  |  |  |  |
Credit Agreement |  |  |  |  |  |  |  |  |
Minimum base rate (as a percent) |  | $ 0 |  |  |  |  |  |  |
Interest rate added to base rate (as a percent) |  | 1.875% |  |  |  |  |  |  |
Interest rate added to base rate, no default (as a percent) |  | 1.50% |  |  |  |  |  |  |

X
- Definition Percentage points added to the reference rate to compute the variable rate on the debt instrument. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Face (par) amount of debt instrument at time of issuance. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=64930739&loc=d3e28878-108400 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399 + Details
Name: | us-gaap_DebtInstrumentFaceAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22(a)(1)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=64930785&loc=d3e28551-108399 + Details
Name: | us-gaap_DebtInstrumentInterestRateEffectivePercentage
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Period of time between issuance and maturity of debt instrument, in PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. + References No definition available. + Details
Name: | us-gaap_DebtInstrumentTerm
Namespace Prefix: | us-gaap_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition The total amount of the contingent obligation under letters of credit outstanding as of the reporting date. + References No definition available. + Details
Name: | us-gaap_LettersOfCreditOutstandingAmount
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(16)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 + Details
Name: | us-gaap_LineOfCredit
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The effective interest rate at the end of the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityInterestRateAtPeriodEnd
Namespace Prefix: | us-gaap_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_LineOfCreditFacilityLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)) -URI http://asc.fasb.org/extlink&oid=6879938&loc=d3e572229-122910 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -URI http://asc.fasb.org/extlink&oid=6876686&loc=d3e534808-122878 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
Name: | us-gaap_LongTermDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Definition The cash inflow during the period from additional borrowings in aggregate debt. Includes proceeds from short-term and long-term debt. + References No definition available. + Details
Name: | us-gaap_ProceedsFromIssuanceOfDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. + References No definition available. + Details
Name: | us-gaap_RepaymentsOfDebt
Namespace Prefix: | us-gaap_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | duration

X
- Definition The percentage of amortization of the carrying value of debt instrument in year one. + References No definition available. + Details
Name: | wts_DebtInstrumentAmortizationRateInYearOne
Namespace Prefix: | wts_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition The percentage of amortization of the carrying value of the debt instrument in the fourth and fifth fiscal year following the latest fiscal year. + References No definition available. + Details
Name: | wts_DebtInstrumentAmortizationRateInYearsFourAndFive
Namespace Prefix: | wts_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition The percentage of amortization of the carrying value of the debt instrument in the second and third fiscal year following the latest fiscal yea + References No definition available. + Details
Name: | wts_DebtInstrumentAmortizationRateInYearsTwoAndThree
Namespace Prefix: | wts_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition The percentage points added to the specified reference rate to compute the variable rate on the debt instrument, in addition to the percentage points added regardless of specified reference rate. + References No definition available. + Details
Name: | wts_DebtInstrumentBasisSpreadOnVariableRateAdditional
Namespace Prefix: | wts_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | instant

X
- Definition The percentage points added to the specified reference rate to compute the variable rate on the debt instrument, with no default on a continuing basis by the entity. + References No definition available. + Details
Name: | wts_DebtInstrumentBasisSpreadOnVariableRateNoEventOfDefault
Namespace Prefix: | wts_
Data Type: | num:percentItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the first option for frequency of interest payments on outstanding debt. + References No definition available. + Details
Name: | wts_DebtInstrumentFrequencyOfInterestPaymentsFirstOption
Namespace Prefix: | wts_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the second option for frequency of interest payments on outstanding debt. + References No definition available. + Details
Name: | wts_DebtInstrumentFrequencyOfInterestPaymentsSecondOption
Namespace Prefix: | wts_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the third option for frequency of interest payments on outstanding debt. + References No definition available. + Details
Name: | wts_DebtInstrumentFrequencyOfInterestPaymentsThirdOption
Namespace Prefix: | wts_
Data Type: | xbrli:durationItemType
Balance Type: | na
Period Type: | duration

X
- Definition Represents the minimum base rate to be used as the reference rate. + References No definition available. + Details
Name: | wts_DebtInstrumentMinimumBaseRate
Namespace Prefix: | wts_
Data Type: | xbrli:monetaryItemType
Balance Type: | debit
Period Type: | duration

X
- Definition Represents the maximum amount of the guarantees available through letters of credit. + References No definition available. + Details
Name: | wts_LettersOfCreditMaximumAmount
Namespace Prefix: | wts_
Data Type: | xbrli:monetaryItemType
Balance Type: | credit
Period Type: | instant

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=us-gaap_LetterOfCreditMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=us-gaap_LineOfCreditMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=wts_EurocurrencyRateLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=us-gaap_LondonInterbankOfferedRateLIBORMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RangeAxis=us-gaap_MinimumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_RangeAxis=us-gaap_MaximumMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=wts_BaseRateAndSwingLineLoansMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=wts_DebtInstrumentVariableRateBaseFederalFundsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=us-gaap_RevolvingCreditFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=wts_TermLoanFacilityMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_LongtermDebtTypeAxis=wts_TermLoanDueFebruary2021Member
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_DebtInstrumentAxis=wts_FacilityAgreementMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | dei_LegalEntityAxis=wts_WattsInternationalHoldingsLimitedMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_VariableRateAxis=wts_DebtInstrumentVariableRateBaseEuroLiborMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |