[{"_1":2,"_3":-5,"_4":-5},"loaderData",{"_5":6,"_7":8},"actionData","errors","root",{"_99":100},"en-item",{"_9":10,"_10":11},"kind","item",{"_12":13,"_14":15,"_16":17,"_18":19,"_20":21,"_22":23,"_24":25,"_26":27,"_28":29,"_30":31,"_32":31,"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":-5,"_48":49,"_50":-5,"_51":-5,"_52":53,"_54":55,"_56":57,"_58":42,"_59":42,"_60":61,"_62":42,"_63":64},"id","x91gfu6ocmwf4rwoleilgf9mb","revision",2,"title","Allegion plc公布2026年第三季度业绩：营收11.73亿美元、净利润2.21亿美元，并回购755,000股","originalTitle","Allegion plc (0001579241) (Filer)","summary","Allegion plc在截至2026年9月30日的第三季度实现营收11.73亿美元，同比增长9.6%；净利润2.21亿美元，同比增长17.1%，运营利润率为24.3%。公司当季回购755,000股，平均价格为每股158.54美元；截至9月30日，回购计划剩余额度约2.6027亿美元。美洲业务第三季度营收增长11.7%、运营利润率为31.3%；国际业务营收增长1.8%、运营利润率为7.5%。","reason","材料包含Allegion第三季度业绩、资本配置及业务分部表现，国际业务利润率下滑与公司列示的经营风险也值得关注。","source",{"_12":90,"_91":92,"_9":93,"_94":42,"_95":96,"_97":98},"links",{"_87":88,"_77":89},"publishedAt","2026-10-22T10:05:38.000Z","discoveredAt","2026-10-22T10:42:59.319Z","timelineAt","category","ai-products","tags",[83,84,85,86],"stockSymbols",[82],"score",73,"selected",true,"channel","news","story",{"_72":73,"_16":74},"x","readingMode","full","author","language","body",{"_64":76,"_77":-5,"_78":79,"_80":81},"outline",[],"relatedStories",[75],"indexable","markdownAvailable","group",{"_65":66,"_45":67,"_68":15,"_69":70,"_71":70},"hasTranslation","bodyLanguage","zh","factId","fbEBzzAEJA94",{"_72":73,"_16":74},"reportCount","additionalSourceCount",0,"developmentCount","publicId","1f28e443-476a-4992-bb4b-aaca9165d6cd","Allegion公布2026年第三季度业绩并回购股票",{"_72":73,"_16":74},"

美国

证券交易委员会

华盛顿特区 20549

_______________________________

10-Q 表

_______________________________


☒	根据《1934 年证券交易法》第 13 或 15(d) 条提交的季度报告

截至 2026 年 9 月 30 日的季度期间

或


☐	根据《1934 年证券交易法》第 13 或 15(d) 条提交的过渡报告

过渡期间自至

委员会档案编号 001-35971

_______________________________

$\"logoallea10.jpg\"$

ALLEGION PUBLIC LIMITED COMPANY

（注册人章程中规定的确切名称）

_______________________________


爱尔兰	98-1108930
（州或其他注册或组织司法管辖区）	（美国国税局雇主识别号）

233 号单元
The Capel Building
Mary’s Abbey
Dublin 7
爱尔兰	D07 X324
（主要行政办公室地址）	（邮政编码）

+(353) (1) 6833399

（注册人电话号码，包括区号）

_______________________________

根据该法第 12(b) 条注册的证券：


各类别名称	交易代码	注册交易所名称
普通股，每股面值 $0.01	ALLE	纽约证券交易所
2029 年到期的 3.500% 高级票据	ALLE 3 ½	纽约证券交易所

请勾选标记说明注册人是否 (1) 已在过去 12 个月内（或注册人被要求提交此类报告的较短期间内）提交了《1934 年证券交易法》第 13 或 15(d) 条要求提交的所有报告，以及 (2) 在过去 90 天内一直受此类提交要求约束。是 x 否 ¨

请勾选标记说明注册人是否已在过去 12 个月内（或注册人被要求提交此类文件的较短期间内）以电子方式提交了根据 S-T 条例第 405 条（本章 §232.405）要求提交的每一份交互式数据文件。是 x 否 ¨

请勾选标记说明注册人属于大型加速申报公司、加速申报公司、非加速申报公司、小型报告公司还是新兴成长型公司。定义请参见《交易法》规则 12b-2 中“大型加速申报公司”“加速申报公司”“小型报告公司”和“新兴成长型公司”。

大型加速申报公司

☒

加速申报公司

☐

非加速申报公司

☐

小型报告公司

☐

新兴成长型公司

☐

如果属于新兴成长型公司，请勾选标记说明注册人是否已选择不采用《交易法》第 13(a) 条规定的延长过渡期，以遵守任何新的或修订后的财务会计准则。 ¨

请勾选标记说明注册人是否为《交易法》规则 12b-2 所定义的空壳公司。是 ☐ 否 ☒

截至 2026 年 10 月 19 日，Allegion plc 的普通股流通股数为 84,321,432 股。

ALLEGION PLC

10-Q 表

索引



第一部分 - 财务信息	1

第 1 项 -	财务报表	1

	截至 2026 年和 2025 年 9 月 30 日止三个月和九个月的简明合并综合收益表 9 月 30 日，2026 年和 2025 年（未经审计）	1

	截至 9 月 30 日，2026 年和 2025 年 12 月 31 日的简明合并资产负债表（未经审计）	2

	截至九个月的简明合并现金流量表 9 月 30 日，2026 年和 2025 年（未经审计）	3

	简明合并财务报表附注（未经审计）	4

第 2 项 -	管理层对财务状况和经营业绩的讨论与分析	20

第 3 项 -	关于市场风险的定量和定性披露	32

第 4 项 -	控制和程序	32

第二部分 - 其他信息	33

第 1 项 -	法律诉讼	33

第 1A 项 -	风险因素	33

第 2 项 -	未注册股权证券的出售、所得款项用途及发行人购买股权证券	33

第 5 项 -	其他信息	33

第 6 项 -	附件	34

签名	35

第一部分 – 财务信息

第 1 项 – 财务报表

Allegion plc

简明合并综合收益表

（未经审计）


	三个月止		九个月止
	9 月 30 日，		9 月 30 日，
单位：百万，股份数据除外	2026		2025		2026		2025
净收入	$	1,172.6			$	1,070.2		$	3,357.7	$	3,034.1
销售成本	624.4			580.4			1,837.5		1,655.3
销售及管理费用	263.6			256.0			785.6		728.9
营业收入	284.6			233.8			734.6		649.9
利息支出	24.2			26.6			73.2		75.9

其他收入，净额	(7.4)			(1.7)			(5.8)		(10.5)
税前收益	267.8			208.9			667.2		584.5
所得税费用	46.9			20.5			123.6		88.2
净收益	$	220.9			$	188.4		$	543.6	$	496.3


每股收益：
基本每股净收益	$	2.60			$	2.19		$	6.36	$	5.76
摊薄每股净收益	$	2.59			$	2.18		$	6.33	$	5.73
加权平均流通股数：
基本	84.8			85.9			85.5		86.1
摊薄	85.2			86.5			85.9		86.6



综合收益总额	$	213.3			$	178.3		$	507.4	$	613.5

请参阅简明合并财务报表附注。

Allegion plc

简明合并资产负债表

（未经审计）


单位：百万，股份数除外	2026年9月30日		2025年12月31日
资产
流动资产：
现金及现金等价物	$	388.1			$	356.2

应收账款及票据净额	551.6			437.7
存货	539.4			519.0

其他流动资产	83.9			78.9
流动资产总额	1,563.0			1,391.8
不动产、厂房及设备净额	457.2			444.6
商誉	1,926.1			1,912.4
无形资产净额	798.5			826.0
其他非流动资产	722.1			648.9
资产总额	$	5,466.9			$	5,223.7
负债及权益
流动负债：
应付账款	$	283.2			$	244.8
应计费用及其他流动负债	539.5			510.4
短期借款及长期债务的流动部分	0.3			0.2

流动负债总额	823.0			755.4
长期债务	2,031.7			1,979.9
其他非流动负债	439.8			420.8
负债总额	3,294.5			3,156.1
权益：

普通股，面值$0.01（截至2026年9月30日和2025年12月31日，已发行并流通的股份分别为84,320,027股和86,066,997股）	0.8			0.9
超过面值的资本	—			34.2
留存收益	2,413.4			2,238.1
累计其他综合亏损	(241.8)			(205.6)


权益总额	2,172.4			2,067.6
负债及权益总额	$	5,466.9			$	5,223.7

请参阅简明合并财务报表附注。

Allegion plc

简明合并现金流量表

（未经审计）


	截至以下日期的九个月
	9月30日
单位：百万	2026		2025
经营活动产生的现金流量：
净收益	$	543.6			$	496.3
调节至经营活动提供的现金净额：
折旧和摊销	107.4			98.6


资产和负债变动及其他非现金项目	(47.0)			(51.2)
经营活动提供的现金净额	604.0			543.7
投资活动产生的现金流量：
资本支出	(64.6)			(58.5)
收购业务（扣除取得的现金）	(74.7)			(594.0)

其他投资活动净额	(38.9)			3.2
投资活动使用的现金净额	(178.2)			(649.3)
融资活动产生的现金流量：
偿还债务	—			(15.7)
循环信贷额度所得款项	289.4			300.0
偿还循环信贷额度	(239.0)			(201.0)



债务所得款项净额	50.4			83.3


向普通股股东支付的股息	(140.2)			(131.4)



回购普通股	(280.3)			(80.0)
其他融资活动净额	(17.9)			12.9
融资活动使用的现金净额	(388.0)			(115.2)
汇率变动对现金及现金等价物的影响	(5.9)			19.7
现金及现金等价物净增加（减少）额	31.9			(201.1)
期初现金及现金等价物	356.2			503.8
期末现金及现金等价物	$	388.1			$	302.7

请参阅简明合并财务报表附注。

ALLEGION PLC

简明合并财务报表附注

（未经审计）

附注1——列报基础

Allegion plc（一家爱尔兰公众有限公司）及其合并子公司的随附简明合并财务报表反映了公司的合并经营情况，并按照美国（“U.S.”）证券交易委员会（“SEC”）的中期报告要求编制。因此，随附简明合并财务报表未包含美国公认会计原则（“GAAP”）对完整财务报表要求的所有披露，应与 Allegion 截至 2025 年 12 月 31 日止年度的 10-K 表年度报告中所载的合并财务报表一并阅读。管理层认为，随附简明合并财务报表包含公允列报所示中期未经审计合并业绩所需的所有调整，其中包括正常的经常性调整。

附注 2 - 最新会计公告

近期发布的会计公告

2024 年 11 月，FASB 发布了 ASU 第 2024-03 号公告《收益表——综合收益报告——费用分类披露（子主题 220-40）：收益表费用分类》，要求对合并综合收益表表面列示的费用项目中所包含的某些费用类别进行分类披露。该指引适用于 2026 年 12 月 15 日之后开始的年度期间，以及 2027 年 12 月 15 日之后开始的财政年度内的中期期间。该 ASU 将采用前瞻性方式适用，采纳后将要求公司在合并财务报表中增加披露。

2025 年 9 月，FASB 发布了 ASU 第 2025-06 号公告《无形资产——商誉及其他——内部使用软件（子主题 350-40）：内部使用软件会计处理的针对性改进》，该公告删除了对规定性、顺序式软件开发阶段的引用，并要求实体在管理层批准并承诺为软件项目提供资金，且项目很可能完成、软件将用于执行预期功能时，开始资本化软件成本。该指引适用于 2027 年 12 月 15 日之后开始的年度和中期期间。该 ASU 应采用前瞻性方式适用，但允许追溯适用。预计该 ASU 不会对公司的合并财务报表产生重大影响。

2025 年 12 月，FASB 发布了 ASU 第 2025-11 号公告《中期报告（主题 270）：范围有限的改进》，该公告制定了全面的中期披露要求清单，明确了这些中期披露要求的范围和适用性，并新增一项原则，要求披露自公司最近提交的 10-K 表年度报告以来发生、且尚未以其他方式披露的重大事件和交易。该指引适用于 2027 年 12 月 15 日之后开始的中期报告期间，允许提前采用。公司正在评估该 ASU 对其简明合并财务报表的影响。

附注 3 - 收购

2026

以下为 2026 年完成的收购：

DCI

2026年3月2日，公司通过其子公司收购了 Door Components, Inc.（“DCI”）100%的股权。DCI 是一家总部位于美国的制造商，为工业、商业和机构市场提供定制及快速交付的空心金属门和门框。DCI 计入公司的 Allegion Americas 部门。扣除收购现金后的购买对价约为 $69.3 million。该收购按业务合并进行会计处理，资金来自可用现金及循环信贷额度项下的借款。

Overly

2026年10月2日，公司通过其子公司收购了 Overly Door Company（“Overly”）100%的股权。Overly 是一家总部位于美国的制造商，生产用于隔音、防爆、防弹和金库安防的定制及预制门。Overly 将计入公司的 Allegion Americas 部门。购买对价约为 $88.7 million。此次收购的资金来自可用现金及循环信贷额度项下的借款。

由于 Overly 收购的初始会计处理尚未完成，公司尚未提供这两项 2026 年收购的初步购买价分摊总额。

ALLEGION PLC

简明合并财务报表附注（续）

（未经审计）

2025

以下为截至2025年9月30日的九个月内完成的收购：

Next Door

2025年2月4日，公司通过其子公司收购了 Next Door Company（“Next Door”）。Next Door 是一家总部位于美国的全球安全产品和解决方案提供商。Next Door 计入公司的 Allegion Americas 部门。

Lemaar

2025年3月1日，公司通过其子公司收购了 Lemaar Pty Ltd（“Lemaar”）。Lemaar 是一家总部位于澳大利亚的全球安全产品和解决方案提供商。Lemaar 计入公司的 Allegion International 部门。

Trimco

2025年4月2日，公司通过其子公司收购了 Trimco Hardware（“Trimco”）100%的股权。Trimco 是一家总部位于美国的制造商，其高性能及定制设计的建筑五金产品主要销往商业和机构市场。Trimco 计入公司的 Allegion Americas 部门。

Novas

2025年6月2日，公司通过其子公司收购了 Nova Hardware Pty Ltd（“Novas”）100%的股权。Novas 是一家建筑门五金公司，总部位于澳大利亚。Novas 计入公司的 Allegion International 部门。

ELATEC

2025年7月1日，公司通过其子公司收购了 ELATEC 100%的股权，包括 Elatec GmbH 及其他集团实体（“ELATEC”）。ELATEC 是一家总部位于德国的安防和门禁技术制造商。此次收购有助于公司在具有吸引力的终端市场拓展其全球电子产品组合，同时加强与渠道合作伙伴的战略关系。收购价格为 €327.9 million（约 $386.5 million）。公司使用手头现金和循环信贷额度项下的借款为此次收购提供资金。ELATEC 计入公司的 Allegion International 部门。

Gatewise

2025年7月2日，公司通过其子公司收购了 Gatewise Inc.（“Gatewise”）100%的股权。Gatewise 是一家总部位于美国、为美国多户住宅市场提供智能门禁控制解决方案的供应商。Gatewise 计入公司的 Allegion Americas 分部。

Waitwhile

2025年7月7日，公司通过其子公司收购了 Waitwhile Inc.（“Waitwhile”）100%的股权。Waitwhile 是一家总部位于美国、专注于云端预约排程和排队管理的软件即服务提供商。Waitwhile 计入公司的 Allegion Americas 分部。

UAP

2025年8月1日，公司通过其子公司收购了 UAP Group Limited（“UAP”）100%的股权。UAP 是一家总部位于英国的安全解决方案提供商。UAP 计入公司的 Allegion International 分部。

Brisant

2025年8月12日，公司通过其子公司收购了 Brisant Secure Limited（“Brisant”）100%的股权。Brisant 是一家总部位于英国的安防硬件供应商。Brisant 计入公司的 Allegion International 分部。

这些2025年收购的合计购买对价（扣除取得的现金后）约为$623.8 million。其中包括收购日公允价值为$30.3 million的盈利对赌或有对价，部分已结算，其余部分将在2028年前的特定日期支付，前提是满足某些条件。这些收购作为企业合并入账，资金来源为可用现金及循环信贷安排项下的借款。

ALLEGION PLC

简明合并财务报表附注（续）

（未经审计）

下表汇总了这些2025年收购的合计购买对价分配情况，其中包括现金对价和或有对价的估计公允价值，以及收购日取得的资产和承担的负债：


单位：百万
营运资金净额	$	36.1
不动产、厂房和设备及其他非流动资产	25.3
商誉	374.6
无形资产	279.4
与收购无形资产相关的递延所得税负债	(70.6)
其他非流动负债	(21.0)
取得的净资产及承担的负债总额	$	623.8

收购日确认的无形资产包括以下各项：


单位：百万	价值（百万）		加权平均使用寿命（年）
已完成技术/专利	$	40.0			11
客户关系	191.8			20
商品名称（有限使用寿命）	47.6			14

商誉的形成有多种原因，包括估值无形资产时所用现金流预测中未纳入的 Allegion 特定协同效应，以及不符合单独确认条件的无形资产。预计与这些收购相关的大部分商誉不得用于税务抵扣。

以下未经审计的备考财务信息反映了截至2025年9月30日止三个月和九个月公司的合并经营业绩，假设这些收购于2024年1月1日完成：


	截至三个月		截至九个月
单位：百万	2025			2025
净收入	$	1,077.3				$	3,120.6
净收益	193.7				499.5

未经审计的备考财务信息仅供参考，并非旨在表明若备考事项于所示日期发生时本会产生的经营业绩，也非旨在表明合并公司未来的合并经营业绩。未经审计的备考财务信息未反映收购带来的任何协同效应或其他战略收益。GAAP 要求提供未经审计的备考财务信息；该信息是在应用公司会计政策并调整历史财务业绩后计算得出的，以反映可直接归因于收购的额外项目，假设收购于 2024 年 1 月 1 日完成，这些项目包括所收购无形资产的摊销、为收购融资的债务利息成本，以及收购和整合成本。

以下财务信息反映了自收购日起至今纳入公司简明合并综合收益表的各业务所产生的净收入和税前收益：


单位：百万	截至 2025 年 9 月 30 日的三个月		截至 2025 年 9 月 30 日的九个月
净收入	$	38.0			$	47.6
税前收益	2.3			3.7

ALLEGION PLC

简明合并财务报表附注（续）

（未经审计）

附注 4 - 存货

存货按成本与可变现净值孰低计量，采用先进先出（FIFO）法。存货的主要类别如下：


单位：百万	2026 年 9 月 30 日		2025 年 12 月 31 日
原材料	$	253.1			$	237.9
在制品	56.4			55.1
产成品	229.9			226.0
合计	$	539.4			$	519.0

附注 5 - 商誉

截至 2026 年 9 月 30 日的九个月内商誉账面金额的变动如下：


单位：百万	Allegion 美洲		Allegion 国际		合计(a)
2025 年 12 月 31 日	$	1,281.1			$	631.3		$	1,912.4
收购及调整	36.5			0.6			37.1


汇率折算	(5.0)			(18.4)			(23.4)
2026 年 9 月 30 日	$	1,312.6			$	613.5		$	1,926.1

(a) 截至 2026 年 9 月 30 日和 2025 年 12 月 31 日，国际分部累计减值为 5.736 亿美元。美洲分部无累计减值。

截至 2026 年 9 月 30 日和 2025 年 9 月 30 日的九个月内，商誉均未发生减值。

附注 6 - 无形资产

公司无形资产的账面总额及相关累计摊销如下：


	2026 年 9 月 30 日		2025 年 12 月 31 日
单位：百万	账面总额		累计摊销		账面净额		账面总额		累计摊销		账面净额
已完成技术/专利	$	119.3			$	(57.1)			$	62.2			$	121.2			$	(52.1)	$	69.1
客户关系	787.4			(277.3)			510.1			776.3			(254.2)			522.1
商号（有限年限）	213.7			(132.6)			81.1			210.8			(119.6)			91.2
其他	84.7			(45.3)			39.4			78.4			(42.0)			36.4
有限年限无形资产合计	1,205.1			$	(512.3)			692.8			1,186.7			$	(467.9)			718.8
商号（无限年限）	105.7					105.7			107.2					107.2
合计	$	1,310.8					$	798.5			$	1,293.9					$	826.0

截至2026年和2025年9月30日的九个月，无形资产摊销费用分别为55.9 million美元和53.0 million美元。未来五年现有无形资产的预计摊销费用约为：2026全年75.2 million美元、2027年68.5 million美元、2028年59.2 million美元、2029年56.3 million美元和2030年45.8 million美元。

ALLEGION PLC

简明合并财务报表附注（续）

（未经审计）

附注7——债务和信贷额度

长期债务及其他借款包括以下各项：


百万美元	2026年9月30日		2025年12月31日
循环信贷额度	$	240.9			$	190.6
3.550% 2027年到期优先票据	400.0			400.0
3.500% 2029年到期优先票据	400.0			400.0
5.411% 2032年到期优先票据	600.0			600.0
5.600% 2034年到期优先票据	400.0			400.0
其他债务	0.3			0.2
未偿借款总额	2,041.2			1,990.8
未摊销折价及债务发行成本净额	(9.2)			(10.7)
债务总额	2,032.0			1,980.1
减：长期债务的流动部分	0.3			0.2
长期债务总额	$	2,031.7			$	1,979.9

无担保信贷额度

公司拥有一项无担保循环信贷额度（“循环信贷额度”），将于2030年5月20日到期，承诺总额最高为$1.0 billion，其中包括最高$100.0 million的信用证额度。截至2026年9月30日，公司未偿借款为$240.9 million，信用证为$25.3 million。2026年10月1日，公司在循环信贷额度下额外借款$40.0 million，用于收购Overly。循环信贷额度由Allegion plc、Allegion US Holding Company Inc.（“Allegion US Hold Co”，公司的全资子公司）以及Allegion (Ireland) Finance Designated Activity Company（“Allegion Ireland DAC”，公司的全资子公司）在无担保基础上无条件共同及分别提供担保。

循环信贷额度下的借款须于到期时偿还，但可随时偿还且无需支付溢价或罚金，已偿还金额可再次借入。公司就循环信贷额度支付若干费用，包括根据公司信用评级，对未提取部分按年收取0.080%至0.200%的未使用承诺费，以及若干其他费用。

循环信贷额度项下的未偿借款由公司选择按以下任一方式计息：(i) 有担保隔夜融资利率（“SOFR”）加适用利差，或 (ii) 基准利率（定义见信贷协议）加适用利差。适用利差根据公司的信用评级在 0.875% 至 1.375% 之间。截至 2026年9月30日，公司循环信贷额度项下的未偿借款按 SOFR 加 1.125% 的利差计息，利率为 4.939%。循环信贷额度还包含限制性和肯定性约定以及违约事件，其中包括限制或约束公司进行某些交易的能力。此外，循环信贷额度要求公司遵守信贷协议定义的最高杠杆率。截至 2026年9月30日，公司遵守信贷协议项下所有适用约定。

优先票据

截至 2026年9月30日，Allegion US Hold Co 有 4 亿美元未偿的 3.550% 2027年到期优先票据（“3.550% 优先票据”）、6 亿美元未偿的 5.411% 2032年到期优先票据（“5.411% 优先票据”）以及 4 亿美元未偿的 5.600% 2034年到期优先票据（“5.600% 优先票据”）；Allegion plc 有 4 亿美元未偿的 3.500% 2029年到期优先票据（“3.500% 优先票据”，上述四项优先票据合称“优先票据”）。3.550% 优先票据和 3.500% 优先票据均要求每年 4 月 1 日和 10 月 1 日支付半年利息，分别于 2027年10月1日和 2029年10月1日到期。5.411% 优先票据要求每年 1 月 1 日和 7 月 1 日支付半年利息，于 2032年7月1日到期。5.600% 优先票据要求每年 5 月 29 日和 11 月 29 日支付半年利息，于 2034年5月29日到期。

3.550% 优先票据、5.411% 优先票据和 5.600% 优先票据是 Allegion US Hold Co 的优先无担保债务，与 Allegion US Hold Co 现有及未来所有优先无担保且非次级债务享有同等地位。3.550% 优先票据、5.411% 优先票据和 5.600% 优先票据的担保是 Allegion plc 的优先无担保债务，与公司现有及未来所有优先无担保且非次级债务享有同等地位。3.500% 优先票据是 Allegion plc 的优先无担保债务，由

ALLEGION PLC

简明合并财务报表附注（续）

（未经审计）

Allegion US Hold Co 提供担保，与公司现有及未来所有优先无担保债务享有同等地位。截至 2026年9月30日，公司遵守优先票据项下所有适用约定。

附注 8 - 金融工具

货币对冲工具

公司使用外币远期合约和交叉货币互换合约管理与汇率风险敞口相关的风险。

2026 年第二季度，公司签订了交叉货币互换协议，名义本金总额为 $100.0 million，于 2032 年 7 月到期。这些工具被指定为欧元功能货币子公司的净投资套期保值。定期互换利息应计额计入净收益，互换公允价值的变动则作为货币折算项目的一部分计入累计其他综合亏损。公司认定该套期保值关系自开始时即有效，并按季度评估有效性，确保相关欧元功能货币子公司的净投资大于衍生工具名义本金。

净投资套期保值用于对冲海外业务净投资的外币风险。净投资套期保值结算时的现金流以及定期收取或支付的利息，在简明合并现金流量表中归类为投资活动。此前计入累计其他综合亏损的金额，只有在完全或实质上完全清算被套期保值的海外业务净投资等情况下，才会转入收益。若净投资被完全或实质上完全清算，净投资套期保值的现金流在简明合并现金流量表中归类为投资活动。

截至 2026 年 9 月 30 日和 2025 年 12 月 31 日，公司货币衍生工具的名义本金总额分别为 $350.9 million 和 $320.1 million。货币衍生工具的公允价值（根据采用活跃报价货币市场中易于观察的即期汇率和远期价格的定价模型确定，即公允价值层次结构中的第 2 级输入值，详见附注 11）以及计入累计其他综合亏损的余额，在 2026 年 9 月 30 日和 2025 年 12 月 31 日均不重大。在截至 2026 年和 2025 年 9 月 30 日的九个月内，货币衍生工具对净收益、其他综合收益或简明合并现金流量表均无重大影响，预计未来 12 个月将重分类至净收益的金额也不重大。截至 2026 年 9 月 30 日，公司外汇远期合约的最长期限不到一年，交叉货币互换的期限为六年。

信用风险集中度

公司远期合约和交叉货币互换的交易对手包括数家投资级大型国际金融机构。若交易对手未能履约，公司可能遭受损失。不过，公司持续监控这些金融机构的信用评级和风险集中度，因此认为它们不会给公司带来重大信用风险。

附注 9 - 租赁

截至2026年和2025年9月30日止三个月的租赁费用分别为1,940万美元和1,830万美元；截至2026年和2025年9月30日止九个月的租赁费用分别为5,690万美元和5,150 万美元。租赁费用在简明合并综合收益表中归类于销售成本以及销售和管理费用。与短期租赁、可变租赁付款，或未计入使用权（“ROU”）资产或租赁负债的其他租赁或租赁组成部分相关的租赁费用，截至2026年和2025年9月30日止三个月分别为450万美元和480万美元；截至2026年和2025年9月30日止九个月分别为1,190万美元和1,230万美元。截至2026年9月 30日或2025年12月 31日，简明合并资产负债表中没有资本化重大租赁成本。

公司会评估每项租赁的具体条款和条件，以确定其适当分类为经营租赁还是融资租赁，以及租赁期限。公司作为承租人的租赁几乎全部分类为经营租赁。

ALLEGION PLC

简明合并财务报表附注（续）

（未经审计）

作为承租人，公司将租赁分为房地产租赁和设备租赁两大类。简明合并资产负债表中与公司房地产和设备租赁的ROU资产及租赁负债相关的金额如下：


			2026年9月30日		2025年12月31日
百万美元	资产负债表分类		房地产		设备		总计		房地产		设备		总计
ROU资产	其他非流动资产		$	128.5			$	59.2			$	187.7			$	116.5		$	49.9	$	166.4
租赁负债——流动	应计费用及其他流动负债		24.9			24.5			49.4			22.5			19.2		41.7
租赁负债——非流动	其他非流动负债		108.6			34.4			143.0			98.0			30.5		128.5

其他信息：
加权平均剩余期限（年）		10.0		2.8				10.9		3.0
加权平均折现率		5.3	%		5.5	%				5.3	%		5.9	%

下表汇总了截至9月 30日止九个月公司租赁的其他相关信息：


	2026		2025
百万美元	房地产		设备		总计		房地产	设备		总计
计入租赁负债计量金额的现金支付	$	23.1			$	21.9		$	45.0		$	20.4		$	18.8	$	39.2
以新增租赁负债换取的ROU资产	24.1			18.8			42.9		14.3		12.4		26.7

未来还款

截至2026年9月 30日，房地产和设备租赁组合在2026年剩余期间及此后各年度不可撤销经营租赁所需的最低租赁付款计划如下：


百万美元	2026年剩余期间		2027		2028		2029	2030		此后	总计
房地产租赁	$	7.9			$	30.8		$	23.2		$	18.2		$	13.9		$	81.4	$	175.4
设备租赁	7.2			25.6			18.9		7.8		2.6		1.2			63.3
总计	$	15.1			$	56.4		$	42.1		$	26.0		$	16.5		$	82.6	$	238.7

截至2026年9月 30日，未折现最低租赁付款总额与流动及非流动租赁负债合计之间的差额，源于4,630万美元的推算利息。

附注10——设定受益计划

公司为符合条件的员工和退休人员提供若干美国及非美国固定收益养老金计划，并为高管及其他关键员工维持其他补充计划。

2026年5月31日，公司通过使用等额计划资产购买团体年金合同，将一项美国固定收益养老金计划的19.7 million美元义务转移给一家第三方保险公司。该交易未对养老金计划的资金状况产生重大影响。由于该交易，公司记录了3.7 million美元的结算费用，计入其他收入净额。计划资产和负债于结算日重新计量，剩余预计福利义务为195.9 million美元，计划资产公允价值为207.1 million美元。用于确定结算日预计福利义务的折现率为5.55%，而截至2025年12月31日为5.37%。计划资产的预期长期回报率仍为6.50%。

ALLEGION PLC

简明合并财务报表附注（续）

（未经审计）

公司截至9月 30日止三个月和九个月的定期养老金福利净成本（收益）构成如下：


	美国
	截至三个月		截至九个月
百万美元	2026		2025		2026		2025
服务成本	$	0.2			$	0.2		$	0.6	$	0.6
利息成本	2.5			2.9			7.8		8.6
计划资产预期回报	(3.2)			(3.8)			(10.2)		(11.4)
结算费用	—			—			3.7		—
管理成本及其他	0.3			0.3			1.0		0.8
摊销：
净过去服务成本	—			—			—		0.1
计划净精算损失	0.2			0.3			0.8		0.9
定期福利净成本（收益）	$	—			$	(0.1)		$	3.7	$	(0.4)


	非美国
	截至三个月		截至九个月
百万美元	2026		2025		2026		2025
服务成本	$	0.6			$	0.5		$	1.7	$	1.5
利息成本	3.1			3.0			9.3		9.1
计划资产预期回报	(4.1)			(4.1)			(12.5)		(12.3)
管理成本及其他	0.6			0.5			1.9		1.5
摊销：

计划净精算损失	0.9			0.9			2.6		2.7

定期福利净成本	$	1.1			$	0.8		$	3.0	$	2.5

服务成本计入销售成本和销售及管理费用，定期养老金福利净成本（收益）的其余构成部分则计入简明合并综合收益表中的其他收入净额。截至2026年或2025年9月 30日止九个月内，雇主向计划缴纳的供款并不重大，预计2026年剩余时间内也不会重大。

附注11——公允价值计量

公允价值定义为在计量日有序交易中，市场参与者之间在资产或负债的主要市场或最有利市场出售资产可收取或转移负债需支付的交换价格（退出价格）。公允价值计量基于一个框架，该框架采用市场参与者用于确定资产或负债公允价值的输入值，并建立公允价值层级以对这些输入值进行优先排序。公允价值层级由以下三个级别构成：

•第1级——基于活跃市场中相同资产或负债报价的输入值。

•第 2 级——除第 1 级报价以外的输入值，例如类似资产或负债的报价；不活跃市场中的报价；或在资产或负债几乎整个期限内可观察到或可由可观察市场数据佐证的其他输入值。

•第 3 级——基于很少或没有市场活动、且对资产和负债公允价值具有重要影响的不可观察输入值。

公允价值层级要求企业在计量公允价值时最大限度地使用可观察输入值，并尽量减少使用不可观察输入值。可观察输入值来自独立来源，可由第三方验证；不可观察输入值则反映在具体情况下，基于可获得的最佳信息，第三方在对资产或负债定价时会采用的假设。金融工具在公允价值层级中的分类，取决于对公允价值计量具有重要影响的最低级别输入值。

ALLEGION PLC

简明合并财务报表附注（续）

（未经审计）

截至 2026 年 9 月 30 日以公允价值计量的资产和负债如下：


	公允价值计量		公允价值总额
百万美元	相同资产在活跃市场中的报价（第 1 级）		重要的其他可观察输入值（第 2 级）	重要的不可观察输入值（第 3 级）
经常性公允价值计量
资产：
投资	$	—		$	16.9	$	—	$	16.9

经常性公允价值计量资产总额	$	—		$	16.9	$	—	$	16.9
负债：

递延薪酬及其他退休计划	$	—		$	17.1	$	—	$	17.1
经常性公允价值计量负债总额	$	—		$	17.1	$	—	$	17.1
未按公允价值列账的金融工具
债务总额	$	—		$	1,981.5	$	—	$	1,981.5
未按公允价值列账的金融工具总额	$	—		$	1,981.5	$	—	$	1,981.5

截至 2025 年 12 月 31 日以公允价值计量的资产和负债如下：


	公允价值计量		公允价值总额
百万美元	相同资产在活跃市场中的报价（第 1 级）		重要的其他可观察输入值（第 2 级）	重要的不可观察输入值（第 3 级）
经常性公允价值计量
资产：
投资	$	—		$	17.4	$	—	$	17.4

经常性公允价值计量资产总额	$	—		$	17.4	$	—	$	17.4
负债：

递延薪酬及其他退休计划	$	—		$	18.1	$	—	$	18.1
经常性公允价值计量负债总额	$	—		$	18.1	$	—	$	18.1
未按公允价值列账的金融工具
债务总额	$	—		$	2,021.1	$	—	$	2,021.1
未按公允价值列账的金融工具总额	$	—		$	2,021.1	$	—	$	2,021.1

本公司采用以下方法确定其金融资产和负债的公允价值：

•投资 – 这些工具包括股票共同基金和公司债券基金。公允价值根据公开交易所对类似工具报出的可观察市场价格确定。

•递延薪酬及其他退休计划 – 这些项目包括与递延薪酬及其他退休计划相关、并根据市场表现调整的义务。公允价值根据公开交易所对类似工具报价的可观察市场价格确定。

•债务 – 这些工具按成本入账，包括循环信贷额度以及到期日截至2034年的优先票据。这些债务工具的公允价值根据公开交易所对类似工具报价的可观察市场价格确定。

公司于2026年9月 30日确定其金融资产和负债公允价值所采用的方法，与2025年12月 31日采用的方法相同。现金及现金等价物、应收账款和票据净额、应付账款以及应计费用和其他流动负债的账面价值是其公允价值的合理估计，原因是这些工具期限较短。

截至2026年9月 30日和2025年12月 31日，公司还持有公允价值不易确定的债务和股权证券投资，金额分别为1.306亿美元和6680万美元，并在简明合并资产负债表中列为其他非流动资产。2026年第三季度，公司向智能体实体安全公司Ambient.ai追加投资4000万美元。

ALLEGION PLC

简明合并财务报表附注（续）

（未经审计）

附注12——权益

截至2026年9月 30日的九个月内，权益各组成部分的变动如下：


			Allegion plc股东权益
			普通股
单位：百万，股份金额除外	权益总额		金额		股份数		超过面值的资本	留存收益		累计其他综合损失
2025年12月31日余额	$	2,067.6			$	0.9		86.1			$	34.2	$	2,238.1	$	(205.6)
净收益	138.1			—			—		—			138.1	—



其他综合损失净额	(21.9)			—			—		—			—	(21.9)
回购普通股	(40.6)			—			(0.3)		(39.6)			(1.0)	—
股份支付薪酬活动	5.4			—			0.1		5.4			—	—


向普通股股东派发股息（每股0.55美元）	(47.4)			—			—		—			(47.4)	—

2026年3月31日余额	2,101.2			0.9			85.9		—			2,327.8	(227.5)
净收益	184.6			—			—		—			184.6	—



其他综合损失净额	(6.7)			—			—		—			—	(6.7)
回购普通股	(120.0)			—			(0.9)		(6.3)			(113.7)	—
股份支付薪酬活动	6.3			—			0.1		6.3			—	—


向普通股股东派发股息（每股0.55美元）	(46.8)			—			—		—			(46.8)	—

2026年6月30日余额	2,118.6			0.9			85.1		—			2,351.9	(234.2)
净收益	220.9			—			—		—			220.9	—



其他综合损失净额	(7.6)			—			—		—			—	(7.6)
回购普通股	(119.8)			(0.1)			(0.8)		(6.8)			(112.9)	—
股份支付薪酬活动	6.8			—			—		6.8			—	—


向普通股股东派发股息（每股0.55美元）	(46.5)			—			—		—			(46.5)	—

2026年9月30日余额	$	2,172.4			$	0.8		84.3			$	—	$	2,413.4	$	(241.8)

ALLEGION PLC

简明合并财务报表附注（续）

（未经审计）

截至2025年9月 30日的九个月内，权益各组成部分的变动如下：


			Allegion plc股东权益
			普通股
单位：百万，股份金额除外	权益总额		金额		股份数		超过面值的资本	留存收益		累计其他综合亏损
截至2024年12月31日的余额	$	1,500.7			$	0.9		86.3			$	—	$	1,831.4	$	(331.6)
净收益	148.2			—			—		—			148.2	—



其他综合收益，净额	36.6			—			—		—			—	36.6
回购普通股	(40.0)			—			(0.3)		(5.4)			(34.6)	—
基于股份的薪酬活动	5.4			—			0.1		5.4			—	—


向普通股股东派发股息（每股$0.51）	(44.0)			—			—		—			(44.0)	—

截至2025年3月31日的余额	1,606.9			0.9			86.1		—			1,901.0	(295.0)
净收益	159.7			—			—		—			159.7	—



其他综合收益，净额	90.7			—			—		—			—	90.7
回购普通股	(40.0)			—			(0.3)		(13.0)			(27.0)	—
基于股份的薪酬活动	13.0			—			—		13.0			—	—

向普通股股东派发股息（每股$0.51）	(43.8)			—			—		—			(43.8)	—

截至2025年6月30日的余额	1,786.5			0.9			85.8		—			1,989.9	(204.3)
净收益	188.4			—			—		—			188.4	—



其他综合亏损，净额	(10.1)			—			—		—			—	(10.1)

基于股份的薪酬活动	25.6			—			0.2		25.6			—	—


向普通股股东派发股息（每股$0.51）	(43.8)			—			—		—			(43.8)	—
截至2025年9月30日的余额	$	1,946.6			$	0.9		86.0			$	25.6	$	2,134.5	$	(214.4)

2026年4月，公司董事会（“董事会”）重新授权了公司现有的股份回购计划，因此授权回购公司最高（含）$500.0 million的普通股（“股份回购授权”）。截至2026年9月30日的九个月内，公司根据股份回购授权在公开市场回购了$280.3 million的普通股。

ALLEGION PLC

简明合并财务报表附注（续）

（未经审计）

累计其他综合亏损

截至2026年9月30日的九个月内，累计其他综合亏损的变动如下：


百万计	现金流量套期		设定受益计划项目		外币项目		合计
截至2025年12月31日的余额	$	4.5			$	(124.9)		$	(85.2)	$	(205.6)
重分类前其他综合收益（亏损）	1.2			3.3			(45.6)		(41.1)
从累计其他综合亏损中重分类的金额(a)	—			1.7			—		1.7
已确认的结算	—			3.7			—		3.7
所得税费用	(0.4)			(0.1)			—		(0.5)
截至2026年9月30日的余额	$	5.3			$	(116.3)		$	(130.8)	$	(241.8)

截至2025年9月30日的九个月内，累计其他综合亏损的变动如下：


百万计	现金流量套期		设定受益计划项目		外币项目		合计
截至2024年12月31日的余额	$	6.9			$	(123.1)		$	(215.4)	$	(331.6)
重分类前其他综合（亏损）收益	(1.7)			(4.7)			122.1		115.7
从累计其他综合亏损中重分类的金额(a)	(0.5)			3.4			—		2.9
所得税收益（费用）	0.4			(1.8)			—		(1.4)
截至2025年9月30日的余额	$	5.1			$	(126.2)		$	(93.3)	$	(214.4)

(a) 从累计其他综合亏损中重分类并计入净收益的现金流量套期金额计入销售成本和利息费用。从累计其他综合亏损中重分类并计入净收益的设定受益计划项目金额计入其他收入，净额。

附注13 - 基于股份的薪酬

公司的股份支付计划包括股票期权、限制性股票单位（“RSU”）和绩效股票单位（“PSU”）计划。股份支付费用计入简明合并综合收益表中的销售成本以及销售和管理费用。下表汇总了截至9月 30日止三个月和九个月确认的股份支付费用：


	截至三个月		截至九个月
单位：百万	2026		2025		2026		2025
股票期权	$	1.2			$	1.1		$	4.6	$	4.5
RSU	3.0			2.9			13.0		11.5
PSU	2.4			2.7			6.5		7.5
税前费用	6.6			6.7			24.1		23.5
税收优惠	(0.6)			(0.6)			(2.4)		(2.6)
税后费用	$	6.0			$	6.1		$	21.7	$	20.9

股票期权 / RSU

符合条件的参与者可获得（i）股票期权、（ii）RSU，或（iii）股票期权和RSU的组合。截至9月 30日止九个月内发放的授予如下：


	2026	2025
	授予数量	每份奖励的加权平均公允价值		授予数量	每份奖励的加权平均公允价值
股票期权	108,951		$	42.88		144,504	$	37.72
RSU	91,632		$	158.88		97,353	$	129.47

ALLEGION PLC

简明合并财务报表附注（续）

（未经审计）

已授予股票期权的加权平均公允价值采用Black-Scholes期权定价模型确定。截至9月 30日止九个月使用的加权平均假设如下：


	2026		2025
股息率	1.35	%		1.61	%
波动率	25.89	%		29.89	%
无风险收益率	3.65	%		4.31	%
预期年限（年）	5.3		5.4

波动率基于公司的历史波动率。无风险收益率基于奖励授予日、到期日与奖励预期期限相同的美国零息国债收益率曲线。公司股票期权奖励的预期年限根据历史数据得出，基于公司股票期权计划过去的行权活动和归属后取消活动，代表预计奖励尚未结清的期限。

绩效股票

截至2026年9月30日止九个月内，公司授予的PSU最高奖励水平约为0.1百万股。2024年、2025年和2026年2月，公司薪酬与人力资本委员会授予了PSU，其达成情况的50%取决于绩效条件，该条件在每个报告期根据每股收益（“EPS”）相对于董事会薪酬与人力资本委员会为各绩效期间预先设定的目标进行衡量；另50%取决于市场条件，该条件根据三年绩效期内公司相对于标普400资本品指数和标普500资本品指数各占50%的组合的股东总回报进行衡量。市场条件的公允价值采用蒙特卡洛模拟方法在风险中性框架下估算，根据历史波动率、无风险收益率和相关矩阵对未来股价走势建模。

附注14——重组活动

截至2026年9月30日的九个月内，公司记录了与重组活动相关的1380万美元费用，这些费用计入简明合并综合收益表中的销售成本和销售及行政费用。公司预计，与截至2026年9月30日的九个月内启动的某些重组行动相关，未来还将产生额外的重组费用。这些重组活动主要涉及裁员，旨在优化和简化 Allegion International 和 Allegion Americas 部门的运营及成本结构。

截至2026年9月30日的九个月内，重组准备金变动如下：


百万美元	总计
2025年12月31日	$	1.9
新增计提，扣除转回	13.8
现金支付	(9.6)

2026年9月30日	$	6.1

重组准备金计入简明合并资产负债表中的应计费用及其他流动负债。截至2026年9月30日计提的费用，大部分预计将在一年内支付。

公司还发生并预计将继续发生与已启动的这些重组行动相关的其他非合格重组费用，这些费用可直接归因于重组活动，但不属于遣散、退出或处置类别。截至2026年9月30日止三个月和九个月内，非合格重组费用金额均不重大。非合格重组费用计入简明合并综合收益表中的销售成本和销售及行政费用。2026年剩余时间内发生的重组费用，大部分将导致现金支出。

ALLEGION PLC

简明合并财务报表附注（续）

（未经审计）

附注15 - 其他收入，净额

其他收入净额的构成如下，列示截至9月30日止三个月和九个月的数据：


	截至三个月		截至九个月
百万美元	2026		2025		2026		2025
利息收入	$	(3.7)			$	(2.5)		$	(6.6)	$	(10.3)
外币汇兑损失	0.6			1.2			2.1		2.7

定期养老金及退休后福利净成本（收入），扣除服务成本	0.3			(0.1)			4.4		—
其他	(4.6)			(0.3)			(5.7)		(2.9)
其他收入，净额	$	(7.4)			$	(1.7)		$	(5.8)	$	(10.5)

附注16 - 所得税

截至2026年和2025年9月30日止三个月的有效所得税率分别为17.5%和9.8%。截至2026年和2025年9月30日止九个月的有效所得税率分别为18.5%和15.1%。与2025年相比，有效所得税率上升，主要是由于上年有利的离散项目以及在较高税率辖区赚取的收入组合不利。

附注17 - 每股收益（“EPS”）

Basic EPS is calculated by dividing Net earnings by the weighted-average number of ordinary shares outstanding for the applicable period. Diluted EPS is calculated after adjusting the denominator of the basic EPS calculation for the effect of all potentially dilutive ordinary shares, which in the Company’s case includes shares issuable under share-based compensation plans.

The following table summarizes the weighted-average number of ordinary shares outstanding for basic and diluted EPS calculations for the three and nine months ended September 30:


	Three months ended	Nine months ended
In millions	2026	2025		2026	2025
Weighted-average number of basic shares	84.8		85.9		85.5	86.1
Shares issuable under share-based compensation plans	0.4		0.6		0.4	0.5
Weighted-average number of diluted shares	85.2		86.5		85.9	86.6

At September 30, 2026 and 2025, 0.2 million shares issuable under share-based compensation plans were excluded from the computation of weighted-average diluted shares outstanding because the effect of including these shares would have been anti-dilutive.

NOTE 18 - NET REVENUES

The following tables show the Company’s Net revenues related to both tangible product sales and services and software for the three and nine months ended September 30, 2026 and 2025, respectively, disaggregated by business segment:


	Three months ended September 30, 2026		Nine months ended September 30, 2026
In millions	Allegion Americas		Allegion International		Total		Allegion Americas	Allegion International		Total
Net revenues
Products	$	896.2			$	202.6		$	1,098.8		$	2,526.4		$	614.6	$	3,141.0
Services and software	46.2			27.6			73.8		144.5		72.2		216.7
Total Net revenues	$	942.4			$	230.2		$	1,172.6		$	2,670.9		$	686.8	$	3,357.7

ALLEGION PLC

NOTES TO CONDENSED AND CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Unaudited)


	Three months ended September 30, 2025		Nine months ended September 30, 2025
In millions	Allegion Americas		Allegion International		Total		Allegion Americas	Allegion International		Total
Net revenues
Products	$	806.2			$	203.6		$	1,009.8		$	2,305.3		$	546.0	$	2,851.3
Services and software	37.8			22.6			60.4		118.0		64.8		182.8
Total Net revenues	$	844.0			$	226.2		$	1,070.2		$	2,423.3		$	610.8	$	3,034.1

Net revenues are shown by tangible product sales and services and software, as contract terms, conditions and economic factors affecting the nature, amount, timing and uncertainty around revenue recognition and cash flows are substantially similar within each of these two principal revenue streams.

As of September 30, 2026 and December 31, 2025, contract assets related to the Company’s right to consideration for work completed but not billed were not material. The Company does not have any material costs to obtain or fulfill a contract that are capitalized on its Condensed and Consolidated Balance Sheets. During the three and nine months ended September 30, 2026 and 2025, no adjustments related to performance obligations satisfied in previous periods were recorded.

As of September 30, 2026 and December 31, 2025, contract liabilities related to revenues allocated to remaining performance obligations totaled $52.4 million and $41.2 million, respectively, and are classified as Accrued expenses and other current liabilities and Other noncurrent liabilities within the Condensed and Consolidated Balance Sheets. The Company’s total current contract liabilities related to revenues as of September 30, 2026 and December 31, 2025 totaled $44.8 million and $36.0 million, respectively, and the remainder was classified as noncurrent.

NOTE 19 - COMMITMENTS AND CONTINGENCIES

The Company is involved in various litigation, claims and administrative proceedings, including those related to environmental and product warranty matters, and the Company also has certain contractual obligations requiring minimum purchases. Amounts recorded for identified contingent liabilities are estimates, which are reviewed periodically and adjusted to reflect additional information when it becomes available. Subject to the uncertainties inherent in estimating future costs for contingent liabilities, except as expressly set forth in this note, management believes that any liability which may result from these legal matters would not have a material adverse effect on the financial condition, results of operations, liquidity or cash flows of the Company.

Environmental Matters

As of September 30, 2026 and December 31, 2025, the Company had reserves for environmental matters of $19.5 million and $22.7 million, respectively. The total reserve at September 30, 2026 and December 31, 2025, included $8.0 million and $9.3 million, respectively, related to remediation of sites previously disposed by the Company. Environmental reserves are classified as Accrued expenses and other current liabilities or Other noncurrent liabilities within the Condensed and Consolidated Balance Sheets based on the timing of their expected future payment. The Company’s total current environmental reserve at September 30, 2026 and December 31, 2025, was $3.0 million and $6.0 million, respectively, and the remainder was classified as noncurrent. Expenses related to environmental remediation were not material during the nine months ended September 30, 2026 or 2025. Given the evolving nature of environmental laws, regulations and technology, the ultimate cost of future environmental remediation is uncertain.

Warranty Liability

The changes in the standard product warranty liability for the nine months ended September 30 were as follows:


In millions	2026		2025
Balance at beginning of period	$	26.2			$	22.8
Reductions for payments	(10.2)			(8.8)
Accruals for warranties issued during the current period	9.1			8.8

Acquisitions	0.3			1.7
Currency translation	(0.1)			0.6
Balance at end of period	$	25.3			$	25.1

Standard product warranty liabilities are classified as either Accrued expenses and other current liabilities or Other noncurrent liabilities within the Condensed and Consolidated Balance Sheets based on the timing of the expected future payments.

ALLEGION PLC

NOTES TO CONDENSED AND CONSOLIDATED FINANCIAL STATEMENTS (Continued)

(Unaudited)

Contractual Obligations

As of September 30, 2026, the Company has arrangements with certain software and information technology service providers that require future minimum purchases of $61.8 million over the remainder of 2026 through 2030.

NOTE 20 - BUSINESS SEGMENT INFORMATION

The Company classifies its business into the following two reportable segments based on industry and market focus: Allegion Americas and Allegion International. The Company largely evaluates performance based on Segment operating income and Segment operating margins. The Company’s chief operating decision maker (the “CODM”) is its chief executive officer, who uses segment operating income as the measure of profit or loss to evaluate the financial performance of the business and as the basis for resource allocation, performance reviews and compensation. For these reasons, the Company believes that Segment operating income represents the most relevant measure of segment profit or loss. The Company’s CODM may exclude certain charges or gains, such as corporate charges and other special charges, from Operating income to arrive at a Segment operating income that is a more meaningful measure of profit or loss upon which to base operating decisions.

A summary of operations by reportable segment for the three and nine months ended September 30 was as follows:


	Three months ended		Nine months ended
In millions	2026		2025		2026		2025
Allegion Americas
Net revenues	$	942.4			$	844.0		$	2,670.9	$	2,423.3
Cost of goods sold	494.0			456.0			1,440.7		1,309.2
Selling and administrative expenses	153.8			145.6			453.7		423.7
Segment operating income	$	294.6			$	242.4		$	776.5	$	690.4

Depreciation and amortization	$	20.8			$	20.4		$	61.6	$	59.2

Allegion International
Net revenues	$	230.2			$	226.2		$	686.8	$	610.8
Cost of goods sold	130.4			124.4			396.8		346.1
Selling and administrative expenses	82.6			82.1			249.7		217.6
Segment operating income	$	17.2			$	19.7		$	40.3	$	47.1

Depreciation and amortization	$	14.3			$	15.0		$	43.1	$	36.2

Reconciliation to earnings before income taxes
Segment operating income from reportable segments	$	311.8			$	262.1		$	816.8	$	737.5
Unallocated corporate expense	27.2			28.3			82.2		87.6
Interest expense	24.2			26.6			73.2		75.9

Other income, net	(7.4)			(1.7)			(5.8)		(10.5)
Total earnings before income taxes	$	267.8			$	208.9		$	667.2	$	584.5

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Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following Management’s Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements that involve risks and uncertainties. Our actual results may differ materially from the results discussed in the forward-looking statements. Factors that may cause a difference include, but are not limited to, those discussed under Part I, Item 1A – Risk Factors in the Annual Report on Form 10-K for the fiscal year ended December 31, 2025. The following section is qualified in its entirety by the more detailed information, including our Condensed and Consolidated Financial Statements and the notes thereto, which appears elsewhere in this Quarterly Report.

Overview

Organization

Allegion plc and its consolidated subsidiaries (“Allegion,” “the Company,” “we,” “our,” or “us”) are a leading global provider of security products and solutions operating in two segments: Allegion Americas and Allegion International. We sell a wide range of security products and solutions for end-users in commercial, institutional and residential facilities worldwide, including the education, healthcare, government, hospitality, retail, commercial office and single and multi-family residential markets. Our leading brands include CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®.

Recent Developments

Business and Industry Trends and Outlook

In the third quarter of 2026, we delivered high-single digit revenue growth compared to the same period in 2025, driven by favorable pricing, volume growth and the impact from recent acquisitions. Demand for electronic security products has also remained strong and continues to be a long-term growth driver.

Global Trade and Macroeconomic Environment

On February 20, 2026, the U.S. Supreme Court ruled that certain tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”) were invalid, and in March 2026, the U.S. Court of International Trade further ruled that importers that paid such tariffs are due refunds. In the second quarter of 2026, U.S. Customs and Border Protection launched a system to process IEEPA tariff refund claims, and we formally submitted claims for qualifying IEEPA tariff refunds. For the nine months ended September 30, 2026, Operating income includes a $19.9 million benefit related to refunds received and expected to be received for these claims. The impact of future IEEPA tariff refunds is not expected to be material.

Following these rulings, new tariffs were imposed under other laws and on imports from more countries, in addition to existing non-IEEPA tariffs. Through the nine months ended September 30, 2026, we have offset inflation due to tariffs with pricing actions. We continue to monitor the evolving global tariff landscape, analyze the potential impact and assess what steps, including pricing actions, we may take to mitigate the impact. Existing or new tariffs could impact future demand. We estimate we source approximately 20-25% of cost of goods sold (“COGS”) from Mexico, less than 5% of COGS from China, and 5-10% of COGS from all other non-U.S. countries.

Acquisitions

DCI

On March 2, 2026, we, through our subsidiaries, acquired 100% of Door Components, Inc. (“DCI”), a manufacturer of custom, quick ship hollow metal doors and frames for industrial, commercial and institutional markets based in the United States. DCI is reported in the Company’s Allegion Americas segment. The purchase consideration, net of cash acquired, was approximately $69.3 million. This acquisition was accounted for as a business combination and was funded with available cash on hand and borrowings under the Revolving Facility.

Overly

On October 2, 2026, we, through our subsidiaries, acquired 100% of Overly Door Company (“Overly”), a manufacturer of custom and pre-engineered doors for acoustic, blast, bullet-resistant and vault security based in the United States. Overly will be reported in the Company’s Allegion Americas segment. The purchase consideration was approximately $88.7 million. This acquisition was funded with available cash on hand and borrowings under the Revolving Facility.

2026 Dividends and Share Repurchases

During the nine months ended September 30, 2026, we paid dividends of $1.65 per ordinary share to shareholders and repurchased approximately 1.9 million shares for $280.3 million.

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Results of Operations – Three months ended September 30


In millions, except per share amounts	2026		% of revenues		2025		% of revenues
Net revenues	$	1,172.6					$	1,070.2
Cost of goods sold	624.4			53.2	%		580.4		54.3	%
Selling and administrative expenses	263.6			22.5	%		256.0		23.9	%

Operating income	284.6			24.3	%		233.8		21.8	%
Interest expense	24.2					26.6

Other income, net	(7.4)					(1.7)
Earnings before income taxes	267.8					208.9
Provision for income taxes	46.9					20.5
Net earnings	$	220.9					$	188.4



Diluted net earnings per ordinary share:	$	2.59					$	2.18

The discussions that follow describe the significant factors contributing to the changes in our results of operations for the periods presented and form the basis used by management to evaluate the financial performance of the business.

Net Revenues

Net revenues for the three months ended September 30, 2026, increased by 9.6%, or $102.4 million, compared with the same period in 2025, due to the following:


Pricing	3.8	%
Volume	3.4	%
Acquisitions / divestitures	2.6	%
Currency exchange rates	(0.2)	%
Total	9.6	%

The increase in Net revenues was driven by improved pricing, higher volumes and the favorable impact from acquisitions, net of divestitures. These increases were partially offset by unfavorable foreign currency exchange rate movements.

Pricing includes increases or decreases of price, including discounts, surcharges and/or other sales deductions, on our existing products and services. Volume includes increases or decreases of revenue due to changes in unit volume of existing products and services, as well as new products and services.

Operating Income/Margin

Operating income for the three months ended September 30, 2026, increased $50.8 million compared to the same period in 2025. Operating margin, which we define as Operating income as a percentage of total Net revenues, for the three months ended September 30, 2026, increased to 24.3% from 21.8% for the same period in 2025, due to the following:


In millions	Operating Income		Operating Margin
September 30, 2025	$	233.8			21.8	%
Pricing and productivity in excess of inflation and investment spending	17.3			0.7	%
Volume / product mix	12.9			0.4	%
Currency exchange rates	(2.3)			(0.1)	%
Acquisitions / divestitures	4.6			(0.1)	%
Tariff refunds	19.9			1.7	%
Acquisition / integration / restructuring expenses	(1.6)			(0.1)	%
September 30, 2026	$	284.6			24.3	%

The increase in Operating income was driven by the favorable impact of tariff refunds, pricing and productivity improvements in excess of inflation and investment spending, favorable volume/product mix and the favorable impact from acquisitions, net of divestitures. These increases were partially offset by unfavorable foreign currency exchange rate movements, inclusive of transactional foreign currency and higher acquisition, integration and restructuring expenses.

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unfavorable foreign currency exchange rate movements, inclusive of transactional foreign currency, higher acquisition, integration and restructuring expenses and the unfavorable impact on Operating margin from acquisitions, net of divestitures.

Pricing and productivity in excess of inflation and investment spending includes the impact to both Operating income and Operating margin from pricing, as defined above, in addition to productivity, inflation and investment spending. Productivity represents improvements in unit costs of materials, cost reductions related to improvements to our manufacturing design and processes and reductions in selling and administrative expenses due to productivity projects. Inflation includes both unit costs for the current period compared to the average actual cost for the prior period, multiplied by current year volumes, and current period costs of ongoing selling and administrative functions compared to the same ongoing expenses in the prior period. Expenses related to increased head count for strategic initiatives, new facilities or other significant spending for strategic initiatives or new product and channel development, are captured in investment spending.

Volume/product mix represents the impact to both Operating income and Operating margin due to increases or decreases of revenue due to changes in unit volume, including new products and services, including the effect of changes in the mix of products and services sold on Cost of goods sold.

Interest Expense

Interest expense for the three months ended September 30, 2026, decreased $2.4 million compared with the same period in 2025, primarily due to a lower weighted-average interest rate on our outstanding indebtedness.

Other Income, net

The components of Other income, net for the three months ended September 30 were as follows:


In millions	2026		2025
Interest income	$	(3.7)			$	(2.5)
Foreign currency exchange loss	0.6			1.2

Net periodic pension and postretirement benefit cost (income), less service cost	0.3			(0.1)
Other income	(4.6)			(0.3)
Other income, net	$	(7.4)			$	(1.7)

Provision for Income Taxes

The effective income tax rates for the three months ended September 30, 2026 and 2025, were 17.5% and 9.8%, respectively. The increase in the effective income tax rate compared to 2025 is primarily due to favorable discrete charges in the prior year and the unfavorable mix of income earned in higher tax jurisdictions.

Results of Operations – Nine months ended September 30, 2026


In millions, except per share amounts	2026		% of revenues		2025		% of revenues
Net revenues	$	3,357.7					$	3,034.1
Cost of goods sold	1,837.5			54.7	%		1,655.3		54.6	%
Selling and administrative expenses	785.6			23.4	%		728.9		24.0	%

Operating income	734.6			21.9	%		649.9		21.4	%
Interest expense	73.2					75.9

Other income, net	(5.8)					(10.5)
Earnings before income taxes	667.2					584.5
Provision for income taxes	123.6					88.2
Net earnings	$	543.6					$	496.3

Diluted net earnings per ordinary share:	$	6.33					$	5.73

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Net Revenues

Net revenues for the nine months ended September 30, 2026, increased by 10.7%, or $323.6 million, compared with the same period in 2025, due to the following:


Pricing	3.9	%
Volume	1.8	%
Acquisitions / divestitures	4.2	%
Currency exchange rates	0.8	%
Total	10.7	%

The increase in Net revenues was driven by improved pricing, higher volumes, the favorable impact from acquisitions, net of divestitures and favorable foreign currency exchange rate movements.

Operating Income/Margin

Operating income for the nine months ended September 30, 2026, increased $84.7 million compared to the same period in 2025. Operating margin, which we define as Operating income as a percentage of total Net revenues, for the nine months ended September 30, 2026, increased to 21.9% from 21.4% for the same period in 2025, due to the following:


In millions	Operating Income		Operating Margin
September 30, 2025	$	649.9			21.4	%
Pricing and productivity in excess of inflation and investment spending	39.7			0.4	%
Volume / product mix	16.9			0.2	%
Currency exchange rates	(2.5)			(0.2)	%
Acquisitions / divestitures	20.8			(0.2)	%
Tariff refunds	19.9			0.6	%
Acquisition / integration / restructuring expenses	(10.1)			(0.3)	%
September 30, 2026	$	734.6			21.9	%

The increase in Operating income was driven by pricing and productivity improvements in excess of inflation and investment spending, the favorable impact from acquisitions/divestitures, the favorable impact of tariff refunds and favorable volume/product mix. These increases were partially offset by higher acquisition, integration and restructuring expenses and unfavorable foreign currency exchange rate movements, inclusive of transactional foreign currency.

The increase in Operating margin was driven by the favorable impact of tariff refunds, pricing and productivity improvements in excess of inflation and investment spending and favorable volume/product mix. These increases were partially offset by higher acquisition, integration and restructuring expenses, unfavorable foreign currency exchange rate movements, inclusive of transactional foreign currency and the unfavorable impact on Operating margin from acquisitions, net of divestitures.

Interest Expense

Interest expense for the nine months ended September 30, 2026, decreased $2.7 million compared with the same period in 2025, primarily due to a lower weighted-average interest rate on our outstanding indebtedness.

Other Income, net

The components of Other income, net for the nine months ended September 30 were as follows:


In millions	2026		2025
Interest income	$	(6.6)			$	(10.3)
Foreign currency exchange loss	2.1			2.7

Net periodic pension and postretirement benefit cost, less service cost	4.4			—
Other income	(5.7)			(2.9)
Other income, net	$	(5.8)			$	(10.5)

Net periodic pension and postretirement benefit cost, less service cost for the nine months ended September 30, 2026 includes a $3.7 million settlement charge related to a U.S. defined benefit pension plan.

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Provision for Income Taxes

The effective income tax rates for the nine months ended September 30, 2026 and 2025, were 18.5% and 15.1%, respectively. The increase in the effective income tax rate compared to 2025 is primarily due to favorable discrete charges in the prior year and the unfavorable mix of income earned in higher tax jurisdictions.

Review of Business Segments

We operate in and report financial results for two segments: Allegion Americas and Allegion International. These segments represent the level at which our chief operating decision maker reviews our financial performance and makes operating decisions.

Segment operating income is the measure of profit or loss that our chief operating decision maker uses to evaluate the financial performance of the business and as the basis for resource allocation, performance reviews and compensation. For these reasons, we believe that Segment operating income represents the most relevant measure of Segment profit or loss. Our chief operating decision maker may exclude certain charges or gains, such as corporate charges and other special charges, to arrive at a Segment operating income that is a more meaningful measure of profit or loss upon which to base our operating decisions. We define Segment operating margin as Segment operating income as a percentage of the segment’s Net revenues.

The segment discussions that follow describe the significant factors contributing to the changes in results for each segment included in Net earnings.

Segment Results of Operations - For the three and nine months ended September 30:


	Three months ended		Nine months ended
In millions	2026		2025		% Change		2026		2025		% Change
Net revenues
Allegion Americas	$	942.4			$	844.0			11.7	%		$	2,670.9		$	2,423.3	10.2	%
Allegion International	230.2			226.2			1.8	%		686.8			610.8		12.4	%
Total	$	1,172.6			$	1,070.2					$	3,357.7		$	3,034.1

Segment operating income
Allegion Americas	$	294.6			$	242.4			21.5	%		$	776.5		$	690.4	12.5	%
Allegion International	17.2			19.7			(12.7)	%		40.3			47.1		(14.4)	%
Total	$	311.8			$	262.1					$	816.8		$	737.5

Segment operating margin
Allegion Americas	31.3	%		28.7	%				29.1	%		28.5	%
Allegion International	7.5	%		8.7	%				5.9	%		7.7	%

Allegion Americas

Our Allegion Americas segment is a leading provider of security products, services and solutions throughout North America. The segment sells a broad range of products and solutions including locks, locksets, key systems, door controls and door control systems, exit devices, doors, glass and door systems, accessories, electronic security products, access control systems and software and service solutions to customers in institutional, commercial and residential facilities, including the education, healthcare, government, hospitality, retail, commercial office and single and multi-family residential markets. This segment’s primary brands are LCN, Schlage, Von Duprin and Stanley Access Technologies, which we utilize with permission in accordance with the terms of an agreement with STANLEY Black & Decker (“STANLEY” is the property of Stanley Logistics L.L.C.).

Net Revenues

Net revenues for the three months ended September 30, 2026, increased by 11.7%, or $98.4 million, compared to the same period in 2025, due to the following:


Pricing	4.5	%
Volume	4.6	%
Acquisitions	2.6	%

Total	11.7	%

The increase in Net revenues was driven by higher volumes, improved pricing and the favorable impact of acquisitions.

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Net revenues from non-residential products for the three months ended September 30, 2026, increased by a low-teens percent compared to the same period in the prior year. These increases were driven by higher volumes, improved pricing and revenue from acquisitions. Net revenues from residential products for the three months ended September 30, 2026, increased by a mid-single digits percent compared to the same period in the prior year. These increases were primarily driven by improved pricing and revenue from acquisitions.

Growth in electronic security products and solutions is a metric that is actively monitored by management and a focus of our investors. Electronic products encompass both residential and non-residential solutions and include all electrified product categories including, but not limited to, electronic and electrified locks, access control systems and electronic and electrified door controls and systems and exit devices. For the three months ended September 30, 2026, Net revenues from the sale of electronic products increased by a low-double digit percent compared to the same period in the prior year. We expect continued growth in our electronic products in 2026.

Net revenues for the nine months ended September 30, 2026, increased by 10.2%, or $247.6 million, compared to the same period in 2025, due to the following:


Pricing	4.6	%
Volume	3.0	%
Acquisitions	2.6	%

Total	10.2	%

The increase in Net revenues was driven by improved pricing, higher volumes and the favorable impact of acquisitions.

Net revenues from non-residential products for the nine months ended September 30, 2026, increased by a low-double digits percent compared to the same period in the prior year. These increases were driven by improved pricing, higher volumes, revenue from acquisitions, and favorable foreign currency exchange rate movements. Net revenues from residential products for the nine months ended September 30, 2026, increased by a mid-single digit percent compared to the same period in the prior year. These increases were primarily driven by improved pricing, higher volumes and revenue from acquisitions.

Net revenues from the sale of electronic products for the nine months ended September 30, 2026, increased by a high-single digits percent compared to the same period in the prior year. We expect continued growth in our electronic products in 2026.

Operating income/margin

Segment operating income for the three months ended September 30, 2026, increased $52.2 million compared to the same period in 2025, and Segment operating margin for the three months ended September 30, 2026, increased to 31.3% from 28.7%, due to the following:


In millions	Operating Income		Operating Margin
September 30, 2025	$	242.4			28.7	%
Pricing and productivity in excess of inflation and investment spending	15.3			0.5	%
Volume / product mix	15.4			0.4	%
Currency exchange rates	(2.2)			(0.2)	%
Acquisitions	3.3			(0.3)	%
Tariff refunds	19.9			2.1	%
Acquisition / integration / restructuring expenses	0.5			0.1	%
September 30, 2026	$	294.6			31.3	%

The increase in Segment operating income was driven by the favorable impact of tariff refunds, favorable volume/product mix, pricing and productivity in excess of inflation and investment spending, the favorable impact of recent acquisitions and lower acquisition, integration and restructuring expenses. These increases were partially offset by unfavorable foreign currency exchange rate movements, inclusive of transactional foreign currency.

The increase in Segment operating margin was driven by the favorable impact of tariff refunds, pricing and productivity improvements in excess of inflation and investment spending, favorable volume/product mix and lower acquisition, integration and restructuring expenses. These increases were partially offset by the unfavorable impact on operating margin from recent acquisitions and unfavorable foreign currency exchange rate movements, inclusive of transactional foreign currency.

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Segment operating income for the nine months ended September 30, 2026, increased $86.1 million compared to the same period in 2025, and Segment operating margin for the nine months ended September 30, 2026, increased to 29.1% from 28.5%, due to the following:


In millions	Operating Income		Operating Margin
September 30, 2025	$	690.4			28.5	%
Pricing and productivity in excess of inflation and investment spending	41.3			0.4	%
Volume / product mix	26.3			0.2	%
Currency exchange rates	(6.3)			(0.2)	%
Acquisitions	7.7			(0.4)	%
Tariff Refunds	19.9			0.7	%
Acquisition / integration / restructuring expenses	(2.8)			(0.1)	%
September 30, 2026	$	776.5			29.1	%

The increase in Segment operating income was driven by pricing and productivity in excess of inflation and investment spending, favorable volume/product mix, the favorable impact of tariff refunds and the favorable impact of recent acquisitions. These increases were partially offset by unfavorable foreign currency exchange rate movements, inclusive of transactional foreign currency and higher acquisition, integration, and restructuring expenses.

The increase in Segment operating margin was driven by the favorable impact of tariff refunds, pricing and productivity improvements in excess of inflation and investment spending and favorable volume/product mix. These increases were partially offset by the unfavorable impact on operating margin from recent acquisitions, unfavorable foreign currency exchange rate movements, inclusive of transactional foreign currency and higher acquisition, integration, and restructuring expenses.

Allegion International

Our Allegion International segment provides security products, services and solutions primarily throughout Europe, Asia and Oceania. The segment offers end-users a broad range of products, services and solutions including locks, locksets, portable locks, key systems, door controls and door control systems, exit devices, doors, electronic security products, access control systems, time and attendance and workforce productivity solutions, among other software and service solutions. This segment’s primary brands are AXA, CISA, ELATEC, Gainsborough, Interflex and SimonsVoss.

Net Revenues

Net revenues for the three months ended September 30, 2026, increased by 1.8%, or $4.0 million, compared to the same period in 2025, due to the following:


Pricing	1.3	%
Volume	(1.5)	%
Acquisitions / divestitures	2.5	%
Currency exchange rates	(0.5)	%
Total	1.8	%

The increase in Net revenues was driven by the favorable impact from acquisitions, net of divestitures, and improved pricing. These increases were partially offset by lower volumes primarily due to market conditions in Western Europe and unfavorable foreign currency exchange rate movements.

Net revenues for the nine months ended September 30, 2026, increased by 12.4%, or $76.0 million, compared to the same period in 2025, due to the following:


Pricing	1.1	%
Volume	(3.2)	%
Acquisitions / divestitures	10.5	%
Currency exchange rates	4.0	%
Total	12.4	%

The increase in Net revenues was driven by the favorable impact from acquisitions, net of divestitures, favorable foreign currency exchange rate movements and improved pricing. These increases were partially offset by lower volumes primarily due to market conditions in Western Europe.

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Operating income/margin

Segment operating income for the three months ended September 30, 2026, decreased $2.5 million compared to the same period in 2025, and Segment operating margin for the three months ended September 30, 2026, decreased to 7.5% from 8.7%, due to the following:


In millions	Operating Income		Operating Margin
September 30, 2025	$	19.7			8.7	%
Pricing and productivity in excess of inflation and investment spending	1.0			0.3	%
Volume / product mix	(2.6)			(1.0)	%
Currency exchange rates	(0.1)			—	%
Acquisitions / divestitures	1.3			0.4	%
Acquisition / integration / restructuring expenses	(2.1)			(0.9)	%

September 30, 2026	$	17.2			7.5	%

The decrease in Segment operating income and Segment operating margin was driven by unfavorable volume/product mix, higher acquisition, integration and restructuring expenses and the unfavorable impact from foreign currency exchange rate movements. These decreases were partially offset by the favorable impact from recent acquisitions/divestitures and pricing and productivity in excess of inflation and investment spending.

Segment operating income for the nine months ended September 30, 2026, decreased $6.8 million compared to the same period in 2025, and Segment operating margin for the nine months ended September 30, 2026, decreased to 5.9% from 7.7%, due to the following:


In millions	Operating Income		Operating Margin
September 30, 2025	$	47.1			7.7	%
Inflation and investment spending in excess of pricing and productivity	(6.0)			(1.0)	%
Volume / product mix	(9.5)			(1.1)	%
Currency exchange rates	3.8			0.3	%
Acquisitions / divestitures	13.1			1.2	%
Acquisition / integration / restructuring expenses	(8.2)			(1.2)	%

September 30, 2026	$	40.3			5.9	%

The decrease in Segment operating income and Segment operating margin was driven by the unfavorable impact from volume/product mix, higher acquisition, integration and restructuring expenses and inflation and investment spending in excess of pricing and productivity. These decreases were partially offset by the favorable impact from recent acquisitions/divestitures and the favorable impact from foreign currency exchange rate movements.

Liquidity and Capital Resources

Liquidity Outlook, Sources and Uses

Our primary source of liquidity is cash provided by operating activities. Cash provided by operating activities is used to invest in new product development and fund capital expenditures and working capital requirements. Our ability to generate cash from operating activities, our unused borrowing capacity under an unsecured revolving credit facility (the “Revolving Facility”) and our access to the capital and credit markets enable us to fund these capital needs, execute our long-term growth strategies and return value to our shareholders. Further, our business operates with strong operating cash flows, low leverage and low capital intensity, providing financial flexibility.

Our short-term financing needs primarily consist of working capital requirements, restructuring initiatives, capital spending, dividend payments and principal and interest payments on our long-term debt. Long-term financing needs depend largely on potential growth opportunities, including potential acquisitions, repayment or refinancing of our long-term obligations and repurchases of our ordinary shares. Of our total outstanding indebtedness as of September 30, 2026, approximately 88% incurs fixed-rate interest and is therefore not exposed to the risk of rising variable interest rates.

Based upon our operations, existing cash balances and unused borrowing capacity under the Revolving Facility, as of September 30, 2026, we expect our cash flows from operations will be sufficient to maintain a sound financial position and liquidity and to meet our current financing needs for at least the next 12 months. Further, we do not anticipate any covenant compliance challenges with any of our outstanding indebtedness for at least the next 12 months.

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The following table reflects the major categories of cash flows for the nine months ended September 30. For additional details, see the Condensed and Consolidated Statements of Cash Flows in the Condensed and Consolidated Financial Statements.


In millions	2026		2025
Net cash provided by operating activities	$	604.0			$	543.7
Net cash used in investing activities	(178.2)			(649.3)
Net cash used in financing activities	(388.0)			(115.2)

Operating Activities: Net cash provided by operating activities during the nine months ended September 30, 2026, increased $60.3 million compared to the same period in 2025, primarily due to higher net earnings.

Investing Activities: Net cash used in investing activities during the nine months ended September 30, 2026, decreased $471.1 million compared to the same period in 2025, primarily due to lower cash used for acquisitions. Net cash used in investing activities for the nine months ended September 30, 2026 includes a $40.0 million investment in Ambient.ai, an agentic physical security company.

Financing Activities: Net cash used in financing activities during the nine months ended September 30, 2026, increased $272.8 million compared to the same period in 2025, primarily due to higher repurchases of ordinary shares and lower net proceeds from debt.

Capitalization

Long-term debt and other borrowings consisted of the following:


In millions	September 30, 2026		December 31, 2025

Revolving Facility	$	240.9			$	190.6
3.550% Senior Notes due 2027	400.0			400.0
3.500% Senior Notes due 2029	400.0			400.0
5.411% Senior Notes due 2032	600.0			600.0
5.600% Senior Notes due 2034	400.0			400.0
Other debt	0.3			0.2
Total borrowings outstanding	2,041.2			1,990.8
Discounts and debt issuance costs, net	(9.2)			(10.7)
Total debt	2,032.0			1,980.1
Less current portion of long-term debt	0.3			0.2
Total long-term debt	$	2,031.7			$	1,979.9

The Revolving Facility matures on May 20, 2030 and provides aggregate commitments of up to $1.0 billion, which includes up to $100.0 million for the issuance of letters of credit. As of September 30, 2026, we had outstanding borrowings of $240.9 million and letters of credit of $25.3 million. On October 1, 2026, the Company borrowed an additional $40.0 million on the Revolving Facility which was used for the acquisition of Overly.

Borrowings under the Revolving Facility are due upon its maturity but may be repaid at any time without premium or penalty, and amounts repaid may be reborrowed. We pay certain fees with respect to the Revolving Facility, including an unused commitment fee on the undrawn portion of between 0.080% and 0.200% per year, depending on our credit ratings, as well as certain other fees.

Outstanding borrowings under the Revolving Facility accrue interest, at our option, equal to either: (i) a Secured Overnight Financing Rate (“SOFR”) plus an applicable margin or (ii) a base rate plus the applicable margin. The applicable margin ranges from 0.875% to 1.375% depending on our credit ratings. At September 30, 2026, our outstanding borrowings under the Revolving Facility accrued interest at SOFR plus a margin of 1.125%, resulting in an interest rate of 4.939%. The Revolving Facility also contains negative and affirmative covenants and events of default that, among other things, limit or restrict our ability to enter into certain transactions. In addition, the Revolving Facility requires us to comply with a maximum leverage ratio as defined in the credit agreement. As of September 30, 2026, we were in compliance with all applicable covenants under the credit agreement.

As of September 30, 2026, we also have $400.0 million outstanding of 3.550% Senior Notes due 2027 (the “3.550% Senior Notes”), $600.0 million outstanding of 5.411% Senior Notes due 2032 (the “5.411% Senior Notes”), $400.0 million outstanding of 5.600% Senior Notes due 2034 (the “5.600% Senior Notes”), and $400.0 million outstanding of 3.500% Senior Notes due 2029 (the “3.500% Senior Notes,” and all four senior notes collectively, the “Senior Notes”). The 3.550% Senior Notes and

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3.500% Senior Notes both require semi-annual interest payments on April 1 and October 1 of each year and mature on October 1, 2027 and October 1, 2029, respectively. The 5.411% Senior Notes require semi-annual interest payments on January 1 and July 1 of each year and mature on July 1, 2032. The 5.600% Senior Notes require semi-annual interest payments on May 29 and November 29 of each year and mature on May 29, 2034.

Historically, the majority of our earnings were considered to be permanently reinvested in jurisdictions where we have made, and intend to continue to make, substantial investments to support the ongoing development and growth of our global operations. At September 30, 2026, we analyzed our working capital requirements and the potential tax liabilities that would be incurred if certain subsidiaries made distributions and concluded that no material changes to our historic permanent reinvestment assertions are required.

Defined Benefit Plans

Our investment objective in managing defined benefit plan assets is to ensure that all present and future benefit obligations are met as they come due. We seek to achieve this goal while trying to mitigate volatility in plan funded status, contributions and expense by better matching the characteristics of the plan assets to that of the plan liabilities. Global asset allocation decisions are based on a dynamic approach whereby a plan’s allocation to fixed income assets increases as the funded status increases. We monitor plan funded status, asset allocation and the impact of market conditions on our defined benefit plans regularly in addition to investment manager performance. For further details on pension plan activity, see Note 10 to the Condensed and Consolidated Financial Statements.

For a further discussion of Liquidity and Capital Resources, refer to Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” contained in our Annual Report on Form 10-K for the year ended December 31, 2025.

Guarantor Financial Information

Allegion US Hold Co is or was, as applicable, the issuer of the 3.550% Senior Notes, 5.411% Senior Notes, and 5.600% Senior Notes and is the guarantor of the 3.500% Senior Notes. Allegion plc (the “Parent”) is or was, as applicable, the issuer of the 3.500% Senior Notes and is or was, as applicable, the guarantor of the 3.550% Senior Notes, 5.411% Senior Notes, and 5.600% Senior Notes. Allegion US Hold Co is directly or indirectly 100% owned by the Parent and each of the guarantees of Allegion US Hold Co and the Parent is full and unconditional and joint and several.

The 3.550% Senior Notes, 5.411% Senior Notes, and 5.600% Senior Notes are or were, as applicable, senior unsecured obligations of Allegion US Hold Co and rank equally with all of Allegion US Hold Co’s existing and future senior unsecured and unsubordinated indebtedness. The guarantee of the 3.550% Senior Notes, 5.411% Senior Notes, and 5.600% Senior Notes is or was, as applicable, the senior unsecured obligation of the Parent and ranks equally with all of the Parent’s existing and future senior unsecured and unsubordinated indebtedness. The 3.500% Senior Notes are senior unsecured obligations of the Parent and rank equally with all of the Parent’s existing and future senior unsecured and unsubordinated indebtedness. The guarantee of the 3.500% Senior Notes is the senior unsecured obligation of Allegion US Hold Co and ranks equally with all of Allegion US Hold Co’s existing and future senior unsecured and unsubordinated indebtedness.

Each guarantee is effectively subordinated to any secured indebtedness of the guarantor to the extent of the value of the assets securing such indebtedness. The Senior Notes are structurally subordinated to indebtedness and other liabilities of the subsidiaries of the guarantor, none of which guarantee the notes. The obligations of the guarantor under its guarantee are limited as necessary to prevent such guarantee from constituting a fraudulent conveyance under applicable law and, therefore, are limited to the amount that the applicable guarantor could guarantee without such guarantee constituting a fraudulent conveyance; this limitation, however, may not be effective to prevent such guarantee from constituting a fraudulent conveyance. If the guarantee was rendered voidable, it could be subordinated by a court to all other indebtedness (including guarantees and other contingent liabilities) of the applicable guarantor, and, depending on the amount of such indebtedness, the applicable guarantor’s liability on its guarantee could be reduced to zero. In such an event, the notes would be structurally subordinated to the indebtedness and other liabilities of the guarantor.

For further details, terms and conditions of the Senior Notes refer to the Company’s Forms 8-K filed October 2, 2017, September 27, 2019, June 22, 2022, and May 29, 2024.

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The following tables present the summarized financial information specified in Rule 1-02(bb)(1) of Regulation S-X for each issuer and guarantor. The summarized financial information has been prepared in accordance with Rule 13-01 of Regulation S-X.

Selected Condensed Statement of Comprehensive Income Information


	Nine months ended September 30, 2026		Year ended December 31, 2025
In millions	Allegion plc		Allegion US Hold Co		Allegion plc		Allegion US Hold Co
Net revenues	$	—			$	—		$	—	$	—
Gross profit	—			—			—		—
Operating loss	(5.2)			(0.1)			(7.6)		—
Equity earnings in affiliates, net of tax	585.9			411.1			711.5		483.4
Transactions with related parties and subsidiaries(a)	(14.9)			(66.9)			(27.4)		(92.1)
Net earnings	543.6			321.3			643.8		362.0

(a) Transactions with related parties and subsidiaries include intercompany interest and fees.

Selected Condensed Balance Sheet Information


	September 30, 2026		December 31, 2025
In millions	Allegion plc		Allegion US Hold Co		Allegion plc		Allegion US Hold Co
Current assets:
Amounts due from related parties and subsidiaries	$	0.5			$	802.2		$	1.2	$	781.3
Total current assets	11.2			852.1			8.2		835.2
Noncurrent assets:
Amounts due from related parties and subsidiaries	—			1,297.1			—		1,299.1
Total noncurrent assets	1,792.4			1,429.8			1,792.7		1,425.7
Current liabilities:
Amounts due to related parties and subsidiaries	$	371.9			$	1,076.3		$	10.8	$	702.1
Total current liabilities	394.5			1,112.1			31.7		730.4
Noncurrent liabilities:
Amounts due to related parties and subsidiaries	278.7			2,324.6			484.0		2,737.6
Total noncurrent liabilities	868.3			3,749.6			1,073.0		4,124.4

Critical Accounting Policies

Management’s Discussion and Analysis of Financial Condition and Results of Operations are based upon our Condensed and Consolidated Financial Statements, which have been prepared in accordance with accounting principles generally accepted in the United States. The preparation of financial statements in conformity with those accounting principles requires management to use judgments in making estimates and assumptions based on the relevant information available at the end of each period. These estimates and assumptions have a significant effect on reported amounts of assets and liabilities, revenue and expenses, as well as the disclosure of contingent assets and liabilities because they result primarily from the need to make estimates and assumptions on matters that are inherently uncertain. Actual results may differ from estimates.

Management believes there have been no significant changes during the nine months ended September 30, 2026, to the items we disclosed as our critical accounting policies in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended December 31, 2025.

Recent Accounting Pronouncements

Refer to Note 2 in our Condensed and Consolidated Financial Statements for a discussion of recently issued accounting pronouncements.

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Forward-Looking Statements

Certain statements in this report, other than purely historical information, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements generally are identified by the words “believe,” “aim,” “projected,” “expect,” “anticipate,” “estimate,” “forecast,” “outlook,” “intend,” “scheduled,” “targets,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” or the negative thereof or variations thereon or similar expressions generally intended to identify forward-looking statements.

These statements are based on currently available information and our current assumptions, expectations and projections about future events. While we believe that our assumptions, expectations and projections are reasonable in view of the currently available information, you are cautioned not to place undue reliance on our forward-looking statements. Forward-looking statements speak only as of the date they are made and are not guarantees of future performance. They are subject to future events, risks and uncertainties – many of which are beyond our control – as well as potentially inaccurate assumptions, that could cause actual results to differ materially from our expectations and projections including, among other things:

•ongoing macroeconomic challenges and continued economic instability;

•increased prices and inflation;

•volatility and uncertainty in the political, economic and regulatory environments in which we operate, including changes to trade agreements, sanctions, import and export regulations, custom duties and applicable tax regulations and interpretations, social and political unrest, instability, national and international conflict, terrorist acts and other geographical disputes and uncertainties;

•the strength and stability of the institutional, commercial and residential construction and remodeling markets;

•fluctuations in currency exchange rates;

•potential impairment of our goodwill, indefinite-lived intangible assets and/or our long-lived assets;

•instability in the U.S. and global capital and credit markets;

•our ability to make scheduled debt payments or to refinance our debt obligations;

•increased competition, including from technological developments;

•the development, commercialization and acceptance of new products and services;

•changes in customer and consumer preferences and our ability to maintain beneficial relationships with large customers;

•our products or solutions failing to meet certification and specification requirements, being defective, causing property damage, bodily harm or injury, or otherwise falling short of customers’ needs and expectations;

•our ability to identify and successfully complete and integrate acquisitions, including achieving their anticipated strategic and financial benefits;

•business opportunities that diverge from our core business;

•our ability to achieve the expected improvements or financial returns we expect from our strategic initiatives;

•our ability to effectively manage and implement restructuring initiatives or other organizational changes;

•global climate change or other unexpected events, including global health crises, such as epidemics, pandemics or similar widespread public health concerns;

•the proper functioning of our information technology and operational technology systems, including disruption or breaches of our information systems, such as cybersecurity attacks;

•the failure of our third-party vendors to provide effective support for many of the critical elements of our global information and operational technology infrastructure;

•our ability to recruit and retain a highly qualified and diverse workforce;

•disruptions in our global supply chain, including product manufacturing and logistical services provided by our supplier partners;

•our ability to effectively manage real or perceived issues related to product quality, safety, corporate social responsibility and other reputational matters;

•our ability to protect our brand reputation and trademarks;

•legal judgments, fines, penalties or settlements imposed against us or our assets as a result of legal proceedings, claims and disputes;

•claims of infringement of intellectual property rights by third parties;

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•improper conduct by any of our employees, agents or business partners;

•changes to, or changes in interpretations of, current laws and regulations;

•uncertainty and inherent subjectivity related to transfer pricing regulations in the countries in which we operate;

•changes in tax rates, the adoption of new tax legislation or exposure to additional tax liabilities; and

•risks related to our incorporation in Ireland, including the possible effects on us of future legislation or adverse determinations by taxing authorities that could increase our tax burden.

These events, risks and uncertainties are described more fully in the “Risk Factors” section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. There may also be other factors that have not been anticipated or that are not described in our periodic filings with the SEC, generally because we did not believe them to be significant at the time, which could cause actual results to differ materially from our projections and expectations. We do not undertake to update any forward-looking statements, except as required by applicable law.

Item 3 – Quantitative and Qualitative Disclosures about Market Risk

There have been no material changes in our exposure to market risk during the third quarter of 2026. For a discussion of the Company’s exposure to market risk, refer to Part II, Item 7A, “Quantitative and Qualitative Disclosures About Market Risk,” contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.

Item 4 – Controls and Procedures

The Company’s management, including its Chief Executive Officer and Chief Financial Officer, have conducted an evaluation of the effectiveness of disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act), as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on that evaluation, the Chief Executive Officer and Chief Financial Officer concluded as of September 30, 2026, that the disclosure controls and procedures are effective in ensuring that all material information required to be filed in this Quarterly Report on Form 10-Q has been recorded, processed, summarized and reported when required and the information is accumulated and communicated to the Company’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

There have not been any changes in the Company’s internal control over financial reporting that occurred during the third quarter of 2026 that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

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PART II – OTHER INFORMATION

Item 1 – Legal Proceedings

In the normal course of business, we are involved in a variety of lawsuits, claims and legal proceedings, including commercial and contract disputes, labor and employment matters, product liability claims, environmental liabilities, antitrust and trade regulation matters, intellectual property disputes and tax-related matters. In our opinion, pending legal matters are not expected to have a material adverse impact on our results of operations, financial condition, liquidity or cash flows.

Item 1A – Risk Factors

There have been no material changes to our risk factors contained in our Annual Report on Form 10-K for the year ended December 31, 2025. For a further discussion of our Risk Factors, refer to the “Risk Factors” discussion contained in our Annual Report on Form 10-K for the year ended December 31, 2025.

Item 2 – Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities

Issuer Purchases of Equity Securities


Period	Total number of shares purchased (000s)	Average price paid per share		Total number of shares purchased as part of publicly announced plans or programs (000s)	Approximate dollar value of shares that may yet be purchased under the plans or programs (000s)(a)






July 1 - July 31	66		$	157.95		66		$	369,593
August 1 - August 31	334		163.34		334		315,000
September 1 - September 30	355		154.13		355		260,270
Total	755		$	158.54		755		$	260,270

(a) On April 15, 2026, the Board reauthorized the Company’s existing share repurchase program and, as a result, authorized the repurchase of a total amount of up to, and including, $500.0 million of the Company’s ordinary shares under the program. The share repurchase program does not have a prescribed expiration date. Share repurchases may be made from time-to-time in open market, accelerated stock repurchase or privately negotiated transactions, including pursuant to one or more Rule 10b5-1 trading plans. The timing and manner of any share repurchase and the actual number of ordinary shares repurchased will be determined at the discretion of management based on a variety of factors, including, among others, the Company’s stock price, corporate and regulatory requirements, and other general market and economic conditions.

Item 5 – Other Information

During the three months ended September 30, 2026, no director or officer of the Company adopted or terminated a \"Rule 10b5-1 trading arrangement\" or \"non-Rule 10b5-1 trading arrangement,\" as each term is defined in item 408(a) of Regulation S-K.

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Item 6 – Exhibits

(a) Exhibits

Exhibit No.

Description

Method of Filing

3.1

Amended and Restated Memorandum and Articles of Association of Allegion plc.

Incorporated by reference to Exhibit 3.1 to the Company’s Form 8-K filed with the SEC on June 13, 2016 (File No. 001-35971).

Subsidiary Guarantors and Issuers of Guaranteed Securities.

Filed herewith.

31.1

Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) or Rule 15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

Filed herewith.

31.2

Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) or Rule 15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

Filed herewith.

32.1

Certifications of Chief Executive Officer and Chief Financial Officer Pursuant to Rule 13a-14(b) or Rule 15d-14(b) and 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

Filed herewith.

101.INS

XBRL Instance Document.

The instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

101.SCH

XBRL Taxonomy Extension Schema Document.

Filed herewith.

101.CAL

XBRL Taxonomy Extension Calculation Linkbase Document.

Filed herewith.

101.DEF

XBRL Taxonomy Extension Definition Linkbase Document.

Filed herewith.

101.LAB

XBRL Taxonomy Extension Labels Linkbase Document.

Filed herewith.

101.PRE

XBRL Taxonomy Extension Presentation Linkbase Document.

Filed herewith.

104

Cover Page Interactive Data File.

Formatted as Inline XBRL and contained in Exhibit 101.

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ALLEGION PLC

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


		ALLEGION PLC (Registrant)

Date:	October 22, 2026	/s/ Michael J. Wagnes
		Michael J. Wagnes, Senior Vice President and Chief Financial Officer Principal Financial Officer

Date:	October 22, 2026	/s/ Nickolas A. Musial
		Nickolas A. Musial, Vice President, Controller, Chief Accounting Officer and Treasurer Principal Accounting Officer

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