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Trane Technologies plc

CIK:0001466258|SEC Filings

Condensed Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Net revenues	$ 6,353.5	$ 5,746.4	$ 11,322.9	$ 10,434.9
Cost of goods sold	(4,093.8)	(3,585.8)	(7,335.1)	(6,596.8)
Selling and administrative expenses	(1,035.4)	(996.4)	(1,987.4)	(1,855.0)
Operating income	1,224.3	1,164.2	2,000.4	1,983.1
Interest expense	(53.1)	(57.4)	(108.7)	(115.5)
Other income/(expense), net	(8.1)	(14.1)	7.2	(22.0)
Earnings before income taxes	1,163.1	1,092.7	1,898.9	1,845.6
Provision for income taxes	(218.2)	(216.7)	(354.5)	(351.6)
Earnings from continuing operations	944.9	876.0	1,544.4	1,494.0
Discontinued operations, net of tax	(9.6)	2.9	(19.6)	(6.0)
Net earnings	935.3	878.9	1,524.8	1,488.0
Net earnings attributable to Trane Technologies plc	925.7	874.8	1,510.1	1,479.7
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest	(9.6)	(4.1)	(14.7)	(8.3)
Amounts attributable to Trane Technologies plc ordinary shareholders:
Continuing operations	935.3	871.9	1,529.7	1,485.7
Discontinued operations	(9.6)	2.9	(19.6)	(6.0)
Net earnings attributable to Trane Technologies plc	925.7	874.8	1,510.1	1,479.7
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest	$ (9.6)	$ (4.1)	$ (14.7)	$ (8.3)
Basic:
Continuing operations	$ 4.23	$ 3.90	$ 6.91	$ 6.64
Discontinued operations	(0.04)	0.02	(0.09)	(0.03)
Net earnings	4.19	3.92	6.82	6.61
Diluted:
Continuing Operations	4.20	3.87	6.86	6.58
Discontinued operations	(0.04)	0.02	(0.08)	(0.03)
Net earnings	$ 4.16	$ 3.89	$ 6.78	$ 6.55
Weighted-average shares outstanding
Basic	221.0	223.2	221.3	223.8
Diluted	222.5	225.1	222.8	225.8

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net earnings	$ 1,524.8	$ 1,488.0
Discontinued operations, net of tax	(19.6)	(6.0)
Adjustments for non-cash transactions:
Depreciation and amortization	211.1	197.2
Pension and Other Postretirement Benefits Expense (Reversal of Expense), Noncash	6.0	9.1
Stock settled share-based compensation	51.6	47.4
Changes in assets and liabilities, net of the effects of acquisitions	(63.0)	(613.0)
Other non-cash items, net	(15.5)	(91.2)
Net cash provided by (used in) continuing operating activities	1,734.6	1,043.5
Net cash provided by (used in) discontinued operating activities	(20.7)	(11.9)
Net cash provided by (used in) operating activities	1,713.9	1,031.6
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment	(156.1)	(208.8)
Acquisitions and equity method investments, net of cash acquired	(742.0)	(277.2)
Other investing activities, net	(4.2)	0.0
Net cash provided by (used in) investing activities	(902.3)	(486.0)
Cash flows from financing activities:
Payments of long-term debt	(400.0)	(157.3)
Proceeds from (Repayments of) Debt	(1.6)	(157.3)
Debt issuance costs	2.2	2.0
Dividends paid to ordinary shareholders	(463.2)	(420.0)
Dividends paid to noncontrolling interests	(14.2)	(18.1)
Netproceedsfromsharesissuedunderincentiveplans	(5.6)	(1.9)
Repurchase of ordinary shares	(756.4)	(879.6)
Proceeds from (Payment for) Other Financing Activity	0.0	(2.0)
Net Cash Provided by (Used in) Financing Activities, Total	(1,243.2)	(1,480.9)
Short-term borrowings (payments), net	398.4	0.0
Effect of exchange rate changes on cash and cash equivalents	(13.4)	119.4
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(445.0)	(815.9)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	1,318.3	774.2
Debt issuance costs	$ 2.2	$ 2.0

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
ASSETS
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	$ 1,318.3	$ 1,763.3
Accounts and notes receivable, net	4,234.6	3,235.3
Inventories	2,616.9	2,103.6
Other current assets	837.0	760.8
Total current assets	9,006.8	7,863.0
Property, plant and equipment, net	2,392.7	2,251.3
Goodwill	7,031.9	6,457.0
Intangible assets, net	3,518.1	3,236.7
Other noncurrent assets	1,976.1	1,612.7
Total assets	23,925.6	21,420.7
LIABILITIES AND EQUITY
Accounts payable	2,976.1	2,153.9
Accrued compensation and benefits	602.8	614.8
Accrued expenses and other current liabilities	4,118.9	2,825.0
Short-term borrowings and current maturities of long-term debt	693.1	693.0
Total current liabilities	8,390.9	6,286.7
Long-term debt	3,923.7	3,922.1
Postemployment and other benefit liabilities	508.4	541.5
Deferred and noncurrent income taxes	795.2	716.3
Other noncurrent liabilities	1,662.3	1,353.2
Total liabilities	15,280.5	12,819.8
Equity:
Ordinary shares	243.8	245.0
Treasury Stock, Value	(1,649.1)	(1,649.1)
Retained earnings	10,525.6	10,422.1
Accumulated other comprehensive income (loss)	(497.4)	(438.8)
Total Trane Technologies plc shareholders' equity	8,622.9	8,579.2
Noncontrolling interests	22.2	21.7
Total equity	8,645.1	8,600.9
Total liabilities and equity	$ 23,925.6	$ 21,420.7