The company completed multiple acquisitions during 2024, including Boss Door Controls, Dorcas, Krieger Specialty Products, Unicel Architectural Corp., and SOSS Door Hardware, expanding its product portfolio and geographic presence.

The 10-K filing states that Allegion expects continued growth in 2025 and anticipates the security products industry will benefit from increased concerns about safety and security and technology-driven innovation.

Electronic security products and solutions revenue declined by a low single-digit percent in 2024, as comparisons to the prior year were impacted by supply chain dynamics. However, the company expects long-term growth in this segment.

The decrease in cost of goods sold as a percentage of net revenues indicates effective cost management and productivity improvements. The company attributes this to pricing and productivity exceeding inflation and investment spending.

The company paid quarterly dividends totaling $167.0 million and repurchased approximately 1.6 million ordinary shares for approximately $220.0 million during 2024, demonstrating a commitment to returning value to shareholders.

The company issued $400.0 million in Senior Notes at 5.600% and used the proceeds to repay the $400.0 million outstanding on the 3.200% Senior Notes, indicating proactive debt management.

The 10-K filing identifies global macroeconomic factors, increased prices, and inflationary pressures as risks that could negatively impact the company's business, results of operations, financial condition, and cash flows.

The company's global operations are subject to political, economic, and regulatory risks, including changes to trade agreements, tariffs, sanctions, and tax regulations, which could increase costs, disrupt operations, and limit the ability to compete.

The company is exposed to currency exchange rate fluctuations, which can impact the value of assets, liabilities, revenues, and expenses denominated in non-U.S. dollar currencies.

The 10-K filing acknowledges that the security products markets are highly competitive and fragmented, with a number of large multi-national companies and thousands of smaller regional and local companies.

The company's success depends on factors such as brand and reputation, knowledge and expertise, product breadth, innovation, quality and delivery capabilities, price, and service capabilities.

The company competes with its retail customers and technology partners who use their own private labels, which could negatively impact demand for Allegion's products and services.

The company supports its region-of-use production strategy with corresponding supplier partnerships and focuses on continuous improvement in customer experience, employee health and safety, productivity, resource utilization, and operational excellence.

The company's operations are subject to supply chain disruptions, material and labor shortages, and cost inflation, which can impact the ability to manufacture and deliver products to customers.

The company utilizes a number of tools to improve efficiency and productivity and undertakes substantial capital projects to increase production capacity or insource certain products.

The company is committed to investing in research and development capabilities with a focus on innovations that will deliver growth through the introduction of new products and solutions.

Technology and innovation play significant roles in the competitive landscape, and the company's success depends, in part, upon the research, development, and implementation of new technologies and products.

The company relies extensively on information technology and operational technology systems and is subject to risks relating to these systems, including cybersecurity attacks and disruptions.

The company's strategy of balanced capital allocation is evidenced by acquisition activity, dividends paid, and shares repurchased throughout the year.

A portion of the company's cash flows from operations is dedicated to servicing indebtedness and will not be available for other purposes, including operations, capital expenditures, payment of dividends, share repurchases or future business opportunities or other strategic investments.

On May 20, 2024, the company amended and restated its credit facilities which, among other things, increased the total commitment on the Revolving Facility from $500.0 million to $750.0 million, extended the maturity of the Revolving Facility from November 18, 2026 to May 20, 2029, and transitioned the benchmark interest rate from the Bloomberg Short-Term Bank Yield Index to the Secured Overnight Financing Rate for the Credit Facilities.

The company's reputation is influenced by various factors, including ESG practices, and a failure in ESG matters may subject the company to regulatory fines and penalties and damage its reputation.

The company has made several public commitments regarding its intended reduction of carbon emissions, including a commitment to achieve carbon neutral emissions by 2050.

Integrating sound EHS and sustainability strategies in all elements of our business, we set quantitative metrics and targets to provide clear accountability and to monitor and measure improvement in EHS performance.

The company expects continued growth in 2025, and for the security products industry to benefit from increased concerns about safety and security and technology-driven innovation.

In February 2025, the US government announced tariffs on imports from Mexico, Canada and China, countries from which we manufacture and/or import products and components.

Global health crises or outbreak and spread of a communicable disease or virus in the countries where we operate or sell products and provide services, could adversely affect our operations and financial performance.