Allegion acquired Boss Door Controls, Dorcas, Krieger Specialty Products, and Unicel Architectural Corp. to strengthen its position in door solutions, electromechanical access control, and advanced building solutions.

In the third quarter of 2024, we experienced a mid-single digits percent increase in revenue as compared to the same period in 2023, driven by favorable pricing, volume growth from most of our major businesses, as well as the impact from acquisitions made during the year. We expect the business to continue to grow in the last quarter of 2024.

Cash provided by operating activities is used to invest in new product development and fund capital expenditures and working capital requirements.

The Chief Executive Officer and Chief Financial Officer concluded 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.

As of September 30, 2024, the Company was in compliance with all applicable covenants under the credit agreement.

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.

There have been no material changes to our risk factors contained in our Annual Report on Form 10-K for the period ended December 31, 2023.

The company acknowledges that ongoing macroeconomic challenges and continued economic instability could impact results.

The company acknowledges that volatility and uncertainty in the political, economic and regulatory environments in which we operate could impact results.

Our Allegion Americas segment is a leading provider of security products, services and solutions throughout North America.

Increased competition, including from technological developments, is identified as a risk factor.

Changes in customer and consumer preferences and our ability to maintain beneficial relationships with large customers is identified as a risk factor.

Pricing and productivity in excess of inflation and investment spending contributed to the increase in operating income and operating margin.

Disruptions in our global supply chain, including product manufacturing and logistical services provided by our supplier partners is identified as a risk factor.

Our ability to effectively manage real or perceived issues related to product quality, safety, corporate social responsibility and other reputational matters is identified as a risk factor.

The development, commercialization and acceptance of new products and services is identified as a risk factor.

The proper functioning of our information technology and operational technology systems, including disruption or breaches of our information systems, such as cybersecurity attacks is identified as a risk factor.

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 is identified as a risk factor.

During the nine months ended September 30, 2024, we paid dividends of $1.44 per ordinary share to shareholders and repurchased approximately 0.9 million shares for $120.0 million.

On October 1, 2024, the Company repaid the $400.0 million outstanding balance on the 3.200% Senior Notes.

Potential impairment of our goodwill, indefinite-lived intangible assets and/or our long-lived assets is identified as a risk factor.

Our ability to recruit and retain a highly qualified and diverse workforce is identified as a risk factor.

Our ability to effectively manage real or perceived issues related to product quality, safety, corporate social responsibility and other reputational matters is identified as a risk factor.

Improper conduct by any of our employees, agents or business partners is identified as a risk factor.

Ongoing macroeconomic challenges and continued economic instability is identified as a risk factor.

Volatility and uncertainty in the political, economic and regulatory environments in which we operate is identified as a risk factor.

The strength and stability of the institutional, commercial and residential construction and remodeling markets is identified as a risk factor.