INGERSOLL-RAND PLC, 10-K filed on 2/12/2018
Annual Report
Document and Entity Information Document (USD $)
12 Months Ended
Dec. 31, 2017
Feb. 1, 2018
Jun. 30, 2017
Entity Information [Line Items]
 
 
 
Entity Registrant Name
INGERSOLL-RAND PLC 
 
 
Entity Central Index Key
0001466258 
 
 
Current Fiscal Year End Date
--12-31 
 
 
Entity Filer Category
Large Accelerated Filer 
 
 
Document Type
10-K 
 
 
Document Period End Date
Dec. 31, 2017 
 
 
Document Fiscal Year Focus
2017 
 
 
Document Fiscal Period Focus
FY 
 
 
Amendment Flag
false 
 
 
Entity Common Stock, Shares Outstanding
 
249,889,299 
 
Entity Well-known Seasoned Issuer
Yes 
 
 
Entity Voluntary Filers
No 
 
 
Entity Current Reporting Status
Yes 
 
 
Entity Public Float
 
 
$ 23,122,311,923 
Consolidated Statements of Comprehensive Income (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Net revenues
$ 14,197.6 
$ 13,508.9 
$ 13,300.7 
Cost of goods sold
(9,811.6)
(9,307.9)
(9,277.4)
Selling and administrative expenses
(2,720.7)
(2,597.8)
(2,531.6)
Gain (loss) on sale/asset impairment
(8.4)
0 
0 
Operating income (loss)
1,665.3 
1,603.2 
1,491.7 
Interest expense
(215.8)
(221.5)
(223.0)
Other, net
(31.6)
359.6 
(20.8)
Earnings (loss) before income taxes
1,417.9 
1,741.3 
1,247.9 
Benefit (provision) for income taxes
(80.2)
(281.5)
(540.8)
Earnings (loss) from continuing operations
1,337.7 
1,459.8 
707.1 
Discontinued operations, net of tax
(25.4)
32.9 
(24.3)
Net earnings
1,312.3 
1,492.7 
682.8 
Less: Net earnings attributable to noncontrolling interests
(9.7)
(16.5)
(18.2)
Net earnings (loss) attributable to Ingersoll-Rand plc
1,302.6 
1,476.2 
664.6 
Amounts attributable to Ingersoll-Rand plc ordinary shareholders:
 
 
 
Continuing operations
1,328.0 
1,443.3 
688.9 
Discontinued operations
(25.4)
32.9 
(24.3)
Net earnings (loss) attributable to Ingersoll-Rand plc
1,302.6 
1,476.2 
664.6 
Basic:
 
 
 
Continuing operations
$ 5.21 
$ 5.57 
$ 2.60 
Discontinued operations
$ (0.10)
$ 0.13 
$ (0.09)
Net earnings
$ 5.11 
$ 5.70 
$ 2.51 
Diluted:
 
 
 
Continuing operations
$ 5.14 
$ 5.52 
$ 2.57 
Discontinued operations
$ (0.09)
$ 0.13 
$ (0.09)
Net earnings
$ 5.05 
$ 5.65 
$ 2.48 
Statements of Comprehensive Income
 
 
 
Net earnings
1,312.3 
1,492.7 
682.8 
Currency translation
450.3 
(233.8)
(447.6)
Cash flow hedges and marketable securities unrealized net gains (losses) arising during period
(1.8)
2.2 
1.2 
Cash flow hedges and marketable securities net gains (losses) reclassified into earnings
3.6 
(4.8)
2.6 
Cash flow hedges and marketable securities tax (expense) benefit
0 
0.4 
(1.8)
Total cash flow hedges and marketable securities net of tax
1.8 
(2.2)
2.0 
Pension and OPEB adjustments prior service gains (costs) for the period
(3.8)
(6.2)
(6.8)
Pension and OPEB adjustments net actuarial gains (losses) for the period
39.6 
23.6 
1.8 
Pension and OPEB adjustments amortization reclassified to earnings
52.1 
57.5 
55.1 
Pension and OPEB adjustments settlements and curtailments reclassified to earnings
7.7 
2.1 
0.7 
Pension and OPEB adjustments currency translation and other
(15.4)
22.5 
15.9 
Pension and OPEB adjustments tax (expense) benefit
(20.1)
(23.5)
(32.0)
Total pension and OPEB adjustments, net of tax
60.1 
76.0 
34.7 
Other comprehensive income (loss), net of tax
512.2 
(160.0)
(410.9)
Total comprehensive income (loss), net of tax
1,824.5 
1,332.7 
271.9 
Total comprehensive (income) loss attributable to noncontrolling interests
(10.2)
(26.1)
(13.9)
Total comprehensive income (loss) attributable to Ingersoll-Rand plc
$ 1,814.3 
$ 1,306.6 
$ 258.0 
Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
Dec. 31, 2016
ASSETS
 
 
Cash and cash equivalents
$ 1,549.4 
$ 1,714.7 
Accounts and notes receivable, net
2,477.4 
2,223.0 
Inventories
1,555.4 
1,385.8 
Other current assets
536.9 
255.8 
Total current assets
6,119.1 
5,579.3 
Property, plant and equipment, net
1,551.3 
1,511.0 
Goodwill
5,935.7 
5,658.4 
Intangible Assets, Net (Excluding Goodwill)
3,742.9 
3,785.1 
Other noncurrent assets
824.3 
863.6 
Total assets
18,173.3 
17,397.4 
LIABILITIES AND EQUITY
 
 
Accounts payable
1,556.1 
1,334.0 
Accrued compensation and benefits
509.7 
469.8 
Accrued expenses and other current liabilities
1,655.2 
1,425.7 
Short-term borrowings and current maturities of long-term debt
1,107.0 
360.8 
Total current liabilities
4,828.0 
3,590.3 
Long-term debt
2,957.0 
3,709.4 
Postemployment and other benefit liabilities
1,285.3 
1,356.5 
Deferred and noncurrent income taxes
757.5 
884.9 
Other noncurrent liabilities
1,138.6 
1,138.0 
Total liabilities
10,966.4 
10,679.1 
Equity:
 
 
Ingersoll-Rand plc shareholders' equity Ordinary shares, $1 par value (266,271,978 and 282,700,041 shares issued at December 31, 2014 and 2013, respectively)
274.0 
271.7 
Treasury Stock, Value
(1,719.4)
(702.7)
Capital in excess of par value
461.3 
346.5 
Retained earnings
8,903.2 
8,018.8 
Accumulated other comprehensive income (loss)
(778.8)
(1,290.5)
Total Ingersoll-Rand plc shareholders' equity
7,140.3 
6,643.8 
Noncontrolling interest
66.6 
74.5 
Total equity
7,206.9 
6,718.3 
Total liabilities and equity
$ 18,173.3 
$ 17,397.4 
Consolidated Balance Sheets (Parenthetical) (USD $)
Dec. 31, 2017
Dec. 31, 2016
Ordinary shares, par value, in dollars or euros per share, as stated
$ 1.00 
$ 1.00 
Ordinary shares issued
273,980,824 
271,673,124 
Ordinary shares owned by subsidiary
24,501,667 
12,666,804 
Consolidated Statements of Equity (USD $)
In Millions, except Share data, unless otherwise specified
Total
Ordinary shares [Member]
Capital in excess of par value [Member]
Retained earnings [Member]
Accumulated other comprehensive income (loss) [Member]
Noncontrolling interest [Member]
Other, net [Member]
Treasury Stock [Member]
Beginning balance, value at Dec. 31, 2014
$ 6,045.4 
$ 266.3 
$ 97.1 
$ 6,540.8 
$ (714.3)
$ 58.0 
 
 
Beginning balance, shares at Dec. 31, 2014
 
266,300,000 
 
 
 
 
 
 
Treasury Stock, Value
 
 
 
 
 
 
 
(452.6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
 
 
 
 
 
 
 
 
Net earnings
682.8 
0 
0 
664.6 
0 
18.2 
 
 
Other comprehensive income (loss), net of tax
(410.9)
0 
0 
0 
(406.6)
(4.3)
 
 
Shares issued under incentive stock plans, value
65.9 
2.7 
63.2 
0 
0 
0 
 
 
Shares issued under incentive stock plans, shares
 
2,700,000 
 
 
 
 
 
 
Repurchase of ordinary shares
(250.1)
0 
0 
0 
0 
0 
 
 
Repurchase of ordinary shares
 
0 
 
 
 
 
 
 
Repurchase of ordinary shares
(250.1)
 
 
 
 
 
 
 
Share-based compensation
61.8 
0 
63.0 
(1.2)
0 
0 
 
 
Dividends to noncontrolling interests
(9.4)
0 
0 
0 
0 
(9.4)
 
 
Cash dividends, declared
(305.6)
0 
0 
(305.6)
0 
0 
 
 
Other
(0.7)
0 
0 
(0.7)
0 
0 
 
0 
Ending balance, value at Dec. 31, 2015
5,879.2 
269.0 
223.3 
6,897.9 
(1,120.9)
62.5 
 
 
Ending balance, shares at Dec. 31, 2015
 
269,000,000 
 
 
 
 
 
 
Treasury Stock, Value
(702.7)
 
 
 
 
 
 
(702.7)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
 
 
 
 
 
 
 
 
Net earnings
1,492.7 
0 
0 
1,476.2 
0 
16.5 
 
 
Other comprehensive income (loss), net of tax
(160.0)
0 
0 
0 
(169.6)
9.6 
 
 
Shares issued under incentive stock plans, value
60.4 
2.7 
57.7 
0 
0 
0 
 
 
Shares issued under incentive stock plans, shares
 
2,700,000 
 
 
 
 
 
 
Repurchase of ordinary shares
(250.1)
0 
0 
0 
0 
0 
 
 
Repurchase of ordinary shares
 
   
 
 
 
 
 
 
Repurchase of ordinary shares
(250.1)
 
 
 
 
 
 
(250.1)
Share-based compensation
61.6 
0 
66.0 
(4.4)
0 
0 
 
 
Dividends to noncontrolling interests
(14.1)
0 
0 
0 
0 
(14.1)
 
 
Cash dividends, declared
(351.0)
0 
0 
(351.0)
0 
0 
 
 
Other
(0.4)
 
(0.5)
0.1 
 
 
0 
 
Ending balance, value at Dec. 31, 2016
6,718.3 
271.7 
346.5 
8,018.8 
(1,290.5)
74.5 
 
 
Ending balance, shares at Dec. 31, 2016
 
271,700,000 
 
 
 
 
 
 
Treasury Stock, Value
(1,719.4)
 
 
 
 
 
 
(1,719.4)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
 
 
 
 
 
 
 
 
Net earnings
1,312.3 
0 
0 
1,302.6 
0 
9.7 
 
 
Other comprehensive income (loss), net of tax
512.2 
0 
0 
0 
511.7 
0.5 
 
 
Shares issued under incentive stock plans, value
51.2 
2.3 
48.9 
0 
0 
0 
 
 
Shares issued under incentive stock plans, shares
 
2,300,000 
 
 
 
 
 
 
Repurchase of ordinary shares
(1,016.9)
0 
0 
   
0 
0 
 
 
Repurchase of ordinary shares
 
0 
 
 
 
 
 
 
Repurchase of ordinary shares
(1,016.9)
 
 
 
 
 
 
(1,016.9)
Share-based compensation
67.9 
0 
70.8 
(2.9)
0 
0 
 
 
Dividends to noncontrolling interests
(15.8)
0 
0 
0 
0 
(15.8)
 
 
Cash dividends, declared
(430.2)
0 
0 
(430.2)
0 
0 
 
 
Other
0.1 
0 
0.1 
(0.2)
0 
0 
 
 
Ending balance, value at Dec. 31, 2017
$ 7,206.9 
$ 274.0 
$ 461.3 
$ 8,903.2 
$ (778.8)
$ 66.6 
 
 
Ending balance, shares at Dec. 31, 2017
 
274,000,000 
 
 
 
 
 
 
Consolidated Statements of Equity (Parenthetical)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash dividends, declared, in dollars per share
$ 0 
    
$ 1.16 
Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Cash flows from operating activities:
 
 
 
Net earnings
$ 1,312.3 
$ 1,492.7 
$ 682.8 
(Income) loss from discontinued operations, net of tax
25.4 
(32.9)
24.3 
Adjustments to arrive at net cash provided by (used in) operating activities:
 
 
 
Gain (loss) on sale/asset impairment
8.4 
0 
0 
Depreciation and amortization
353.3 
352.2 
364.1 
Gain on sale of Hussmann equity investment
0 
(397.8)
0 
Deferred income taxes
(117.4)
(33.8)
107.8 
Other items
(55.8)
35.6 
157.7 
Changes in other assets and liabilities
 
 
 
Accounts and notes receivable
(156.7)
(101.3)
(79.8)
Inventories
(112.4)
26.8 
(6.3)
Other current and noncurrent assets
(206.8)
(24.5)
248.8 
Accounts payable
167.2 
103.6 
(41.0)
Other current and noncurrent liabilities
228.2 
(21.4)
(427.1)
Net cash (used in) provided by continuing operating activities
1,561.6 
1,433.0 
923.5 
Net cash (used in) provided by discontinued operating activities
(38.1)
88.9 
(35.1)
Net cash provided by (used in) operating activities
1,523.5 
1,521.9 
888.4 
Cash flows from investing activities:
 
 
 
Capital expenditures
(221.3)
(182.7)
(249.6)
Acquisition of businesses, net of cash acquired
(157.6)
(9.2)
(961.8)
Proceeds from sale of property, plant and equipment
1.5 
9.5 
18.5 
Proceeds from business dispositions, net of cash sold
0 
422.5 
0 
Proceeds from Divestiture of Interest in Joint Venture
2.7 
0 
0 
Net cash (used in) provided by continuing investing activities
(374.7)
240.1 
 
Net cash provided by (used in) investing activities
(374.7)
240.1 
(1,192.9)
Cash flows from financing activities:
 
 
 
Other short-term borrowings (net)
(11.7)
(150.7)
30.3 
Payments of long-term debt
0 
0 
(23.9)
Net proceeds (repayments) in debt
(11.7)
(150.7)
6.4 
Debt issuance costs
(0.2)
(2.1)
0 
Dividends paid to ordinary shareholders
(430.1)
(348.6)
(303.3)
Dividends paid to noncontrolling interests
(15.8)
(14.1)
(9.3)
Payments to Noncontrolling Interests
6.8 
0 
0 
Proceeds shares issued under incentive plans
76.7 
62.9 
61.3 
Repurchase of ordinary shares
(1,016.9)
(250.1)
(250.1)
Other, net
(27.7)
(24.2)
(32.6)
Net cash (used in) provided by continuing financing activities
(1,432.5)
(726.9)
(527.6)
Net Cash Provided by (Used in) Financing Activities
(1,432.5)
(726.9)
(527.6)
Effect of exchange rate changes on cash and cash equivalents
118.4 
(57.2)
(136.3)
Net increase (decrease) in cash and cash equivalents
(165.3)
977.9 
(968.4)
Cash and cash equivalents - beginning of period
1,714.7 
736.8 
1,705.2 
Cash and cash equivalents - end of period
1,549.4 
1,714.7 
736.8 
Cash paid during the year for:
 
 
 
Interest, net of amounts capitalized
170.4 
169.7 
172.4 
Income taxes, net of refunds
$ 286.7 
$ 334.3 
$ 408.6 
Description of Company
Description of Company
ESCRIPTION OF COMPANY
Ingersoll-Rand plc (Plc or Parent Company), a public limited company incorporated in Ireland in 2009, and its consolidated subsidiaries (collectively, we, our, the Company) is a diversified, global company that provides products, services and solutions to enhance the quality, energy efficiency and comfort of air in homes and buildings, transport and protect food and perishables and increase industrial productivity and efficiency. The Company's business segments consist of Climate and Industrial, both with strong brands and highly differentiated products within their respective markets. The Company generates revenue and cash primarily through the design, manufacture, sale and service of a diverse portfolio of industrial and commercial products that include well-recognized, premium brand names such as Ingersoll-Rand®, Trane®, Thermo King®, American Standard®, ARO®, and Club Car®.
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
A summary of significant accounting policies used in the preparation of the accompanying Consolidated Financial Statements follows:
Basis of Presentation:  The accompanying Consolidated Financial Statements reflect the consolidated operations of the Company and have been prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP) as defined by the Financial Accounting Standards Board (FASB) within the FASB Accounting Standards Codification (ASC). Intercompany accounts and transactions have been eliminated. The assets, liabilities, results of operations and cash flows of all discontinued operations have been separately reported as discontinued operations for all periods presented. Certain reclassifications of amounts reported in prior periods have been made to conform with the current period presentation.
The Consolidated Financial Statements include all majority-owned subsidiaries of the Company. A noncontrolling interest in a subsidiary is considered an ownership interest in a majority-owned subsidiary that is not attributable to the parent. The Company includes Noncontrolling interest as a component of Total equity in the Consolidated Balance Sheet and the Net earnings attributable to noncontrolling interests are presented as an adjustment from Net earnings used to arrive at Net earnings attributable to Ingersoll-Rand plc in the Consolidated Statement of Comprehensive Income. Partially-owned equity affiliates represent 20-50% ownership interests in investments where the Company demonstrates significant influence, but does not have a controlling financial interest. Partially-owned equity affiliates are accounted for under the equity method.
Use of Estimates:  The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Estimates are based on several factors including the facts and circumstances available at the time the estimates are made, historical experience, risk of loss, general economic conditions and trends, and the assessment of the probable future outcome. Actual results could differ from those estimates. Estimates and assumptions are reviewed periodically, and the effects of changes, if any, are reflected in the statement of operations in the period that they are determined.
Currency Translation:  Assets and liabilities of non-U.S. subsidiaries, where the functional currency is not the U.S. dollar, have been translated at year-end exchange rates, and income and expense accounts have been translated using average exchange rates throughout the year. Adjustments resulting from the process of translating an entity’s financial statements into the U.S. dollar have been recorded in the equity section of the Consolidated Balance Sheet within Accumulated other comprehensive income (loss). Transactions that are denominated in a currency other than an entity’s functional currency are subject to changes in exchange rates with the resulting gains and losses recorded within Net earnings.
Cash and Cash Equivalents:  Cash and cash equivalents include cash on hand, demand deposits and all highly liquid investments with original maturities at the time of purchase of three months or less. The Company maintains amounts on deposit at various financial institutions, which may at times exceed federally insured limits. However, management periodically evaluates the credit-worthiness of those institutions and has not experienced any losses on such deposits.
Inventories:  Depending on the business, U.S. inventories are stated at the lower of cost or market using the last-in, first-out (LIFO) method or the lower of cost or market using the first-in, first-out (FIFO) method. Non-U.S. inventories are primarily stated at the lower of cost or market using the FIFO method. At both December 31, 2017 and 2016, approximately 51% of all inventory utilized the LIFO method.
Allowance for Doubtful Accounts:  The Company maintains an allowance for doubtful accounts receivable which represents the best estimate of probable loss inherent in the Company's accounts receivable portfolio. This estimate is based upon a two-step policy that results in the total recorded allowance for doubtful accounts. The first step is to record a portfolio reserve based on the aging of the outstanding accounts receivable portfolio and the Company's historical experience with the Company's end markets, customer base and products. The second step is to create a specific reserve for significant accounts as to which the customer's ability to satisfy their financial obligation to the Company is in doubt due to circumstances such as bankruptcy, deteriorating operating results or financial position. In these circumstances, management uses its judgment to record an allowance based on the best estimate of probable loss, factoring in such considerations as the market value of collateral, if applicable. Actual results could differ from those estimates. These estimates and assumptions are reviewed periodically, and the effects of changes, if any, are reflected in the Consolidated Statement of Comprehensive Income in the period that they are determined. The Company reserved $26.9 million and $26.0 million for doubtful accounts as of December 31, 2017 and 2016, respectively.
Property, Plant and Equipment:  Property, plant and equipment are stated at cost, less accumulated depreciation. Assets placed in service are recorded at cost and depreciated using the straight-line method over the estimated useful life of the asset except for leasehold improvements, which are depreciated over the shorter of their economic useful life or their lease term. The range of useful lives used to depreciate property, plant and equipment is as follows:
Buildings
10
to
50
years
Machinery and equipment
2
to
12
years
Software
2
to
7
years
Major expenditures for replacements and significant improvements that increase asset values and extend useful lives are also capitalized. Capitalized costs are amortized over their estimated useful lives using the straight-line method. Repairs and maintenance expenditures that do not extend the useful life of the asset are charged to expense as incurred. The carrying amounts of assets that are sold or retired and the related accumulated depreciation are removed from the accounts in the year of disposal, and any resulting gain or loss is reflected within current earnings.
Per ASC 360, "Property, Plant, and Equipment," (ASC 360) the Company assesses the recoverability of the carrying value of its property, plant and equipment whenever events or changes in circumstances indicate that the carrying amount of the asset group may not be recoverable. Recoverability is measured by a comparison of the carrying amount of an asset group to the future net undiscounted cash flows expected to be generated by the asset group. If the undiscounted cash flows are less than the carrying amount of the asset group, an impairment loss is recognized for the amount by which the carrying value of the asset group exceeds the fair value of the asset group.
Goodwill and Intangible Assets:  The Company records as goodwill the excess of the purchase price over the fair value of the net assets acquired. In accordance with ASC 350, "Intangibles-Goodwill and Other," (ASC 350) goodwill and other indefinite-lived intangible assets are tested and reviewed annually for impairment during the fourth quarter or whenever there is a significant change in events or circumstances that indicate that the fair value of the asset is more likely than not less than the carrying amount of the asset.
Impairment of goodwill is assessed at the reporting unit level and begins with an optional qualitative assessment to determine if it is more likely than not that the fair value of each reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the goodwill impairment test under ASC 350. For those reporting units that bypass or fail the qualitative assessment, the test compares the carrying amount of the reporting unit to its estimated fair value. If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not impaired. To the extent that the carrying value of the reporting unit exceeds its estimated fair value, an impairment loss will be recognized for the amount by which the reporting unit's carrying amount exceeds its fair value, not to exceed the carrying amount of goodwill in that reporting unit.
Intangible assets such as patents, customer-related intangible assets and other intangible assets with finite useful lives are amortized on a straight-line basis over their estimated economic lives. The weighted-average useful lives approximate the following:
Customer relationships
20
years
Completed technology/patents
10
years
Other
20
years

The Company assesses the recoverability of the carrying value of its intangible assets with finite useful lives whenever events or changes in circumstances indicate that the carrying amount of the asset group may not be recoverable. Recoverability is measured by a comparison of the carrying amount of an asset group to the future net undiscounted cash flows expected to be generated by the asset group. If the undiscounted cash flows are less than the carrying amount of the asset group, an impairment loss is recognized for the amount by which the carrying value of the asset group exceeds the fair value of the asset group.
Income Taxes:  Deferred tax assets and liabilities are determined based on temporary differences between financial reporting and tax bases of assets and liabilities, applying enacted tax rates expected to be in effect for the year in which the differences are expected to reverse. The Company recognizes future tax benefits, such as net operating losses and non-U.S. tax credits, to the extent that realizing these benefits is considered in its judgment to be more likely than not. The Company regularly reviews the recoverability of its deferred tax assets considering its historic profitability, projected future taxable income, timing of the reversals of existing temporary differences and the feasibility of its tax planning strategies. Where appropriate, the Company records a valuation allowance with respect to a future tax benefit.
Product Warranties:  Standard product warranty accruals are recorded at the time of sale and are estimated based upon product warranty terms and historical experience. The Company assesses the adequacy of its liabilities and will make adjustments as necessary based on known or anticipated warranty claims, or as new information becomes available. The Company's extended warranty liability represents the deferred revenue associated with its extended warranty contracts and is amortized into Revenue on a straight-line basis over the life of the contract, unless another method is more representative of the costs incurred. The Company assesses the adequacy of its liability by evaluating the expected costs under its existing contracts to ensure these expected costs do not exceed the extended warranty liability.
Treasury Stock:  The Parent Company has repurchased its common shares from time to time as authorized by the Board of Directors. These repurchases are at the discretion of management subject to market conditions, regulatory requirements and other considerations. Amounts are recorded at cost and included within the Equity section of the Consolidated Balance Sheet.
Revenue Recognition:  Revenue is recognized and earned when all of the following criteria are satisfied: (a) persuasive evidence of a sales arrangement exists; (b) the price is fixed or determinable; (c) collectability is reasonably assured; and (d) delivery has occurred or service has been rendered. Delivery generally occurs when the title and the risks and rewards of ownership have substantially transferred to the customer. Both the persuasive evidence of a sales arrangement and fixed or determinable price criteria are deemed to be satisfied upon receipt of an executed and legally binding sales agreement or contract that clearly defines the terms and conditions of the transaction including the respective obligations of the parties. If the defined terms and conditions allow variability in all or a component of the price, revenue is not recognized until such time that the price becomes fixed or determinable. At the point of sale, the Company validates that existence of an enforceable claim that requires payment within a reasonable amount of time and assesses the collectability of that claim. If collectability is not deemed to be reasonably assured, then revenue recognition is deferred until such time that collectability becomes probable or cash is received. Delivery is not considered to have occurred until the customer has taken title and assumed the risks and rewards of ownership. Service and installation revenue are recognized when earned. In some instances, customer acceptance provisions are included in sales arrangements to give the buyer the ability to ensure the delivered product or service meets the criteria established in the order. In these instances, revenue recognition is deferred until the acceptance terms specified in the arrangement are fulfilled through customer acceptance or a demonstration that established criteria have been satisfied. If uncertainty exists about customer acceptance, revenue is not recognized until acceptance has occurred.
The Company offers various sales incentive programs to customers, dealers, and distributors. Sales incentive programs do not preclude revenue recognition, but do require an accrual for the Company's best estimate of expected activity. Examples of the sales incentives that are accrued for as a contra receivable and sales deduction at the point of sale include, but are not limited to, discounts (i.e., net 30 type), coupons, and rebates where the customer does not have to provide any additional requirements to receive the discount. Sales returns and customer disputes involving a question of quantity or price are also accounted for as a reduction in revenue and a contra receivable. At December 31, 2017 and 2016, the Company had a customer claim accrual (contra receivable) of $3.2 million and $3.7 million, respectively. All other incentives or incentive programs where the customer is required to reach a certain sales level, remain a customer for a certain period of time, provide a rebate form or is subject to additional requirements are accounted for as a reduction of revenue and establishment of a liability. At December 31, 2017 and 2016, the Company had a sales incentive accrual of $107.3 million and $87.5 million, respectively. Each of these accruals represents the best estimate the Company expects to pay related to previously sold units. These estimates are reviewed regularly for appropriateness. If updated information or actual amounts are different from previous estimates, the revisions are included in the results for the period in which they become known. Historically, the aggregate differences, if any, between the Company's estimates and actual amounts in any year have not had a material impact on the Consolidated Financial Statements.
The Company enters into maintenance and extended warranty contracts with customers. Revenue related to these services is recognized on a straight-line basis over the life of the contract, unless sufficient historical evidence indicates that the cost of providing these services is incurred on an other than straight-line basis. In these circumstances, revenue is recognized over the contract period in proportion to the costs expected to be incurred in performing the service.
The Company, primarily through its Climate segment, enters into construction-type contracts to design, deliver and build integrated HVAC solutions to meet customer specifications. The term of these types of contracts is typically less than one year, but can be as long as three years. Revenues related to these contracts are recognized using the percentage-of-completion method in accordance with GAAP. This measure of progress toward completion, utilized to recognize sales and profits, is based on the proportion of actual cost incurred to date as compared to the total estimate of contract costs at completion. The timing of revenue recognition often differs from the invoicing schedule to the customer, with revenue recognition in advance of customer invoicing recorded to unbilled accounts receivable and invoicing in advance of revenue recognition recorded to deferred revenue. At December 31, 2017, all recorded receivables (billed and unbilled) are due within one year. The Company re-evaluates its contract estimates periodically and reflects changes in estimates in the current period using the cumulative catch-up method. These periodic reviews have not historically resulted in significant adjustments. If estimated contract costs are in excess of contract revenues, then the excess costs are accrued.
The Company enters into sales arrangements that contain multiple elements, such as equipment, installation and service revenue. For multiple element arrangements, each element is evaluated to determine the separate units of accounting. The total arrangement consideration is then allocated to the separate units of accounting based on their relative selling price at the inception of the arrangement. The relative selling price is determined using vendor specific objective evidence (VSOE) of selling price, if it exists; otherwise, third-party evidence (TPE) of selling price is used. If neither VSOE nor TPE of selling price exists for a deliverable, a best estimate of the selling price is developed for that deliverable. The Company primarily utilizes VSOE to determine its relative selling price. The Company recognizes revenue for delivered elements when the delivered item has stand-alone value to the customer, the basic revenue recognition criteria have been met, and only customary refund or return rights related to the delivered elements exist.
Environmental Costs:  The Company is subject to laws and regulations relating to protecting the environment. Environmental expenditures relating to current operations are expensed or capitalized as appropriate. Expenditures relating to existing conditions caused by past operations, which do not contribute to current or future revenues, are expensed. Liabilities for remediation costs are recorded when they are probable and can be reasonably estimated, generally no later than the completion of feasibility studies or the Company’s commitment to a plan of action. The assessment of this liability, which is calculated based on existing technology, does not reflect any offset for possible recoveries from insurance companies, and is not discounted.
Asbestos Matters:  Certain of the Company's wholly-owned subsidiaries and former companies are named as defendants in asbestos-related lawsuits in state and federal courts. The Company records a liability for actual and anticipated future claims as well as an asset for anticipated insurance settlements. Asbestos related defense costs are excluded from the asbestos claims liability and are recorded separately as services are incurred. None of the Company's existing or previously-owned businesses were a producer or manufacturer of asbestos. The Company records certain income and expenses associated with asbestos liabilities and corresponding insurance recoveries within discontinued operations, net of tax, as they relate to previously divested businesses, except for amounts associated with Trane U.S. Inc.’s asbestos liabilities and corresponding insurance recoveries which are recorded within continuing operations.
Research and Development Costs:  The Company conducts research and development activities for the purpose of developing and improving new products and services. These expenditures are expensed when incurred. For the years ended December 31, 2017, 2016 and 2015, these expenditures amounted to approximately $210.8 million, $207.9 million and $205.9 million, respectively.
Software Costs:  The Company capitalizes certain qualified internal-use software costs during the application development stage and subsequently amortizes those costs over the software's useful life, which ranges from 2 to 7 years. The Company capitalizes costs, including interest, incurred to develop or acquire internal-use software. These costs are capitalized subsequent to the preliminary project stage once specific criteria are met. Costs incurred in the preliminary project planning stage are expensed. Other costs, such as maintenance and training, are also expensed as incurred. Capitalized costs are amortized over their estimated useful lives using the straight-line method.
Employee Benefit Plans: The Company provides a range of benefits, including pensions, postretirement and postemployment benefits to eligible current and former employees. Determining the cost associated with such benefits is dependent on various actuarial assumptions, including discount rates, expected return on plan assets, compensation increases, mortality, turnover rates, and healthcare cost trend rates. Actuaries perform the required calculations to determine expense in accordance with GAAP. Actual results may differ from the actuarial assumptions and are generally accumulated into Accumulated other comprehensive income (loss) and amortized into Net earnings over future periods. The Company reviews its actuarial assumptions at each measurement date and makes modifications to the assumptions based on current rates and trends, if appropriate.
Loss Contingencies:  Liabilities are recorded for various contingencies arising in the normal course of business, including litigation and administrative proceedings, environmental matters, product liability, product warranty, worker’s compensation and other claims. The Company has recorded reserves in the financial statements related to these matters, which are developed using input derived from actuarial estimates and historical and anticipated experience data depending on the nature of the reserve, and in certain instances with consultation of legal counsel, internal and external consultants and engineers. Subject to the uncertainties inherent in estimating future costs for these types of liabilities, the Company believes its estimated reserves are reasonable and does not believe the final determination of the liabilities with respect to these matters would have a material effect on the financial condition, results of operations, liquidity or cash flows of the Company for any year.
Derivative Instruments:  The Company periodically enters into cash flow and other derivative transactions to specifically hedge exposure to various risks related to interest rates and currency rates. The Company recognizes all derivatives on the Consolidated Balance Sheet at their fair value as either assets or liabilities. For cash flow designated hedges, the effective portion of the changes in fair value of the derivative contract are recorded in Accumulated other comprehensive income (loss), net of taxes, and are recognized in Net earnings at the time earnings are affected by the hedged transaction. For other derivative transactions, the changes in the fair value of the derivative contract are immediately recognized in Net earnings.
Recent Accounting Pronouncements
The FASB ASC is the sole source of authoritative GAAP other than the Securities and Exchange Commission (SEC) issued rules and regulations that apply only to SEC registrants. The FASB issues an Accounting Standards Update (ASU) to communicate changes to the codification. The Company considers the applicability and impact of all ASU's. ASU's not listed below were assessed and determined to be either not applicable or are not expected to have a material impact on the consolidated financial statements.
Recently Adopted Accounting Pronouncements
In March 2017, the FASB issued ASU 2017-07, "Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost" (ASU 2017-07) which changes the way employers that sponsor defined benefit pension and/or postretirement benefit plans reflect net periodic benefit costs in the income statement. Under the previous standard, the multiple components of net periodic benefit costs are aggregated and reported within the operating section of the income statement or capitalized into assets when appropriate. The new standard requires a company to present the service cost component of net periodic benefit cost in the same income statement line as other employee compensation costs with the remaining components of net periodic benefit cost presented separately from the service cost component and outside of any subtotal of operating income, if one is presented. In addition, only the service cost component will be eligible for capitalization in assets. The Company adopted this standard on January 1, 2017 applying the presentation requirements retrospectively. Refer to Note 10, "Pensions and Postretirement Benefits Other than Pensions" and Note 14, "Other Income/ (Expense), net" for additional information.
In January 2017, the FASB issued ASU 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” (ASU 2017-04) which simplifies the accounting for goodwill impairment by eliminating Step 2 of the current goodwill impairment test which requires a hypothetical purchase price allocation to measure goodwill impairment. Under the new standard, a company will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. ASU 2017-04 does not change the guidance on completing Step 1 of the goodwill impairment test and still allows a company to perform the optional qualitative goodwill impairment assessment before determining whether to proceed to Step 1. The Company adopted this standard on January 1, 2017 and will apply its guidance on future impairment assessments.
In November 2016, the FASB issued ASU 2016-18, "Statement of Cash Flows (Topic 230): Restricted Cash" (ASU 2016-18). This standard requires restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown on the statements of cash flows. In addition, the standard requires disclosure of the nature of restrictions on cash balances and how the statement of cash flows reconciles to the balance sheet in any situation in which the balance sheet includes more that one line item of cash, cash equivalents and restricted cash. The Company adopted this standard on October 1, 2017 with no impact to its financial statements.
In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (ASU 2016-15). This standard clarifies how certain cash receipts and cash payments are classified on the statement of cash flows. The following eight specific cash flow issues are addressed: debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies); distributions received from equity method investees; beneficial interests in securitization transactions and separately identifiable cash flows. In addition, the standard clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The Company adopted this standard on October 1, 2017 with no impact to its financial statements.
In March 2016, the FASB issued ASU No. 2016-09, "Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" (ASU 2016-09) which simplifies several aspects of the accounting for employee share-based payment transactions. The standard makes several modifications to the accounting for forfeitures, employer tax withholding on share-based compensation and the financial statement presentation of excess tax benefits or deficiencies. In addition, ASU 2016-09 clarifies the statement of cash flows presentation for certain components of share-based awards. The Company adopted this standard on January 1, 2017 and prospectively presented any excess tax benefits or deficiencies in the income statement as a component of Provision for income taxes rather than in the Equity section of the Balance Sheet. As part of the adoption, the Company reclassified $15.1 million of excess tax benefits previously unrecognized on a modified retrospective basis through a cumulative-effect adjustment to increase Retained earnings as of January 1, 2017. In addition, the statement of cash flows for the twelve months ended December 31, 2016 and December 31, 2015 was retrospectively adjusted to present $21.7 million and $37.3 million, respectively, of excess tax benefits as an operating activity rather than a financing activity.
Recently Issued Accounting Pronouncements
In August 2017, the FASB issued ASU 2017-12, "Derivatives and Hedging (Topic 815): Targeted improvements to accounting for hedging activities" (ASU 2017-12). This standard more closely aligns the results of cash flow and fair value hedge accounting with risk management activities through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results in the financial statements. This standard also addresses specific limitations in current GAAP by expanding hedge accounting for both nonfinancial and financial risk components and by refining the measurement of hedge results to better reflect an entity’s hedging strategies. Additionally, by aligning the timing of recognition of hedge results with the earnings effect of the hedged item for cash flow and net investment hedges, and by including the earnings effect of the hedging instrument in the same income statement line item in which the earnings effect of the hedged item is presented, the results of an entity’s hedging program and the cost of executing that program will be more visible to users of financial statements. ASU 2017-12 is effective for annual reporting periods beginning after December 15, 2018 with early adoption permitted. The Company is currently assessing the impact of this ASU on its financial statements and does not expect its adoption to have a material impact.
In October 2016, the FASB issued ASU 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory” (ASU 2016-16) which removes the prohibition in Topic 740 against the immediate recognition of the current and deferred income tax effects of intra-entity transfers of assets other than inventory. ASU 2016-16 is effective for annual reporting periods beginning after December 15, 2017, including interim periods within those annual periods, with early adoption permitted. The amendments are to be applied on a modified retrospective basis through a cumulative-effect adjustment directly to Retained earnings as of the beginning of the period of adoption. The Company adopted this standard on January 1, 2018 and expects to record approximately $10 million as a cumulative-effect adjustment.
In February 2016, the FASB issued ASU 2016-02, "Leases" (ASU 2016-02) which requires the lease rights and obligations arising from lease contracts, including existing and new arrangements, to be recognized as assets and liabilities on the balance sheet. The standard also requires additional disclosures by lessees and contains targeted changes to accounting by lessors. ASU 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within those annual periods, with early adoption permitted. The standard is required to be adopted at the earliest period presented using a modified retrospective approach. The Company is currently developing an implementation plan and gathering data to further assess the impact of the ASU on its financial statements. The adoption on January 1, 2019 is anticipated to have a material impact on assets and liabilities due to the recognition of lease rights and obligations on the Balance Sheet. However, the Company does not expect the adoption to have a material impact to its Statements of Cash Flows or Statements of Comprehensive Income beginning in 2019.
In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers" (ASC 606), which creates a comprehensive, five-step model for revenue recognition that requires a company to recognize revenue to depict the transfer of promised goods or services to a customer at an amount that reflects the consideration it expects to receive in exchange for those goods or services. Under the new standard, a company will be required to use more judgment and make more estimates when considering contract terms as well as relevant facts and circumstances when identifying performance obligations, estimating the amount of variable consideration in the transaction price and allocating the transaction price to each separate performance obligation. In addition, ASC 606 enhances disclosures about revenue, provides guidance for transactions that were not previously addressed comprehensively and improves guidance for multiple-element arrangements. ASC 606 is effective for annual reporting periods beginning after December 15, 2017 and is required to be applied retrospectively to each prior reporting period presented or retrospectively with the cumulative effect of initially applying it recognized at the date of initial application. Early adoption is permitted, but not before the original effective date of the standard.
In 2014, the Company began to assess the impact of adopting ASC 606 on its revenue recognition practices. Utilizing working sessions and document reviews with each of its reporting units as well as with appropriate functions such as legal and tax, the Company identified potential differences that would result from applying the requirements of the new standard to the Company's revenue contracts. During 2015, the Company drafted preliminary accounting positions addressing identified potential differences and later determined that certain highly engineered products sold to customers within the Industrial segment for which revenue is currently recognized at a point in time, would meet the criteria of a performance obligation satisfied over time under the new standard. The Company will apply the guidance by recognizing the cumulative effect of initially applying the standard as an opening balance sheet adjustment to retained earnings in the period of initial adoption. The Company refined the estimate of the cumulative effect adjustment to retained earnings to be recognized on January 1, 2018 and determined the impact to be approximately $2 million with related amounts not materially impacting Net revenues, Operating income or the Balance Sheet.
Inventories
Inventories
INVENTORIES
Depending on the business, U.S. inventories are stated at the lower of cost or market using the last-in, first-out (LIFO) method or the lower of cost or market using the first-in, first-out (FIFO) method. Non-U.S. inventories are primarily stated at the lower of cost or market using the FIFO method.
At December 31, the major classes of inventory were as follows:
In millions
 
2017
 
2016
Raw materials
 
$
502.8

 
$
448.5

Work-in-process
 
180.5

 
154.0

Finished goods
 
941.0

 
845.6

 
 
1,624.3

 
1,448.1

LIFO reserve
 
(68.9
)
 
(62.3
)
Total
 
$
1,555.4

 
$
1,385.8


The Company performs periodic assessments to determine the existence of obsolete, slow-moving and non-saleable inventories and records necessary provisions to reduce such inventories to net realizable value. Reserve balances, primarily related to obsolete and slow-moving inventories, were $120.3 million and $111.7 million at December 31, 2017 and December 31, 2016, respectively.
Property, Plant and Equipment
Property, Plant and Equipment
PROPERTY, PLANT AND EQUIPMENT
At December 31, the major classes of property, plant and equipment were as follows:
In millions
 
2017
 
2016
Land
 
$
52.0

 
$
49.2

Buildings
 
770.1

 
708.9

Machinery and equipment
 
2,019.5

 
1,831.1

Software
 
822.7

 
778.5

 
 
3,664.3

 
3,367.7

Accumulated depreciation
 
(2,113.0
)
 
(1,856.7
)
Total
 
$
1,551.3

 
$
1,511.0


Depreciation expense for the years ended December 31, 2017, 2016 and 2015 was $217.3 million, $216.7 million and $209.5 million, which include amounts for software amortization of $28.6 million, $35.9 million and $41.9 million, respectively.
Goodwill
Goodwill
GOODWILL
The Company records as goodwill the excess of the purchase price over the fair value of the net assets acquired in an acquisition. Measurement period adjustments may be recorded once a final valuation has been performed. Goodwill is tested and reviewed annually for impairment during the fourth quarter or whenever there is a significant change in events or circumstances that indicate that the fair value of the asset may be less than the carrying amount of the asset.
The changes in the carrying amount of Goodwill are as follows: 
In millions
 
Climate
 
Industrial
 
Total
Net balance as of December 31, 2015
 
$
4,952.6

 
$
777.6

 
$
5,730.2

Acquisitions (1)
 
0.4

 
12.5

 
12.9

Currency translation
 
(73.9
)
 
(10.8
)
 
(84.7
)
Net balance as of December 31, 2016
 
4,879.1

 
779.3

 
5,658.4

Acquisitions (2)
 
26.3

 
60.5

 
86.8

Currency translation
 
159.7

 
30.8

 
190.5

Net balance as of December 31, 2017
 
5,065.1

 
870.6

 
5,935.7


(1) During 2016, the Company acquired distributors of Industrial products that were previously independently owned. These acquisitions are not considered material for further disclosure.
(2) During 2017, the Company acquired several businesses, including channel acquisitions, that complement existing products and services. Refer to Note 16, "Acquisitions and Divestitures" for more information regarding acquisitions.
The net goodwill balances at December 31, 2017, 2016 and 2015 include $2,496.0 million of accumulated impairment. The accumulated impairment relates entirely to a charge in the fourth quarter of 2008 associated with the Climate segment.
Intangible Assets
Intangible Assets
INTANGIBLE ASSETS
Indefinite-lived intangible assets are tested and reviewed annually for impairment during the fourth quarter or whenever there is a significant change in events or circumstances that indicate that the fair value of the asset may be less than the carrying amount of the asset. All other intangible assets with finite useful lives are being amortized on a straight-line basis over their estimated useful lives.
The following table sets forth the gross amount and related accumulated amortization of the Company’s intangible assets at December 31:
 
 
2017
 
2016
In millions
 
Gross carrying amount
 
Accumulated amortization
 
Net carrying amount
 
Gross carrying amount
 
Accumulated amortization
 
Net carrying amount
Completed technologies/patents
 
$
209.4

 
$
(177.3
)
 
$
32.1

 
$
203.0

 
$
(165.6
)
 
$
37.4

Customer relationships
 
2,068.9

 
(1,056.9
)
 
1,012.0

 
2,008.9

 
(926.1
)
 
1,082.8

Other
 
93.9

 
(52.7
)
 
41.2

 
61.1

 
(48.5
)
 
12.6

Total finite-lived intangible assets
 
$
2,372.2

 
$
(1,286.9
)
 
$
1,085.3

 
$
2,273.0

 
$
(1,140.2
)
 
$
1,132.8

Trademarks (indefinite-lived)
 
2,657.6

 
—

 
2,657.6

 
2,652.3

 
—

 
2,652.3

Total
 
$
5,029.8

 
$
(1,286.9
)
 
$
3,742.9

 
$
4,925.3

 
$
(1,140.2
)
 
$
3,785.1


Intangible asset amortization expense for 2017, 2016 and 2015 was $132.0 million, $132.0 million and $150.2 million, respectively. Future estimated amortization expense on existing intangible assets in each of the next five years amounts to approximately $133 million for 2018, $132 million for 2019, $130 million for 2020, $129 million for 2021, and $129 million for 2022.
Debt and Credit Facilities
Debt and Credit Facilities
DEBT AND CREDIT FACILITIES
At December 31, Short-term borrowings and current maturities of long-term debt consisted of the following:
In millions
 
2017
 
2016
Debentures with put feature
 
$
343.0

 
$
343.0

6.875% Senior notes due 2018 (1)
 
749.6

 
—

Other current maturities of long-term debt
 
7.7

 
7.7

Short-term borrowings
 
6.7

 
10.1

Total
 
$
1,107.0

 
$
360.8


(1) During the third quarter of 2017, the Company reclassified its 6.875% Senior notes of $750 million due August 2018 from noncurrent to current.
The Company's short-term obligations primarily consist of current maturities of long-term debt. Other obligations relate to short-term lines of credit used to fund working capital requirements in certain non U.S. countries. The weighted-average interest rate for Short-term borrowings and current maturities of long-term debt at December 31, 2017 and 2016 was 6.7% and 6.4%, respectively.
Commercial Paper Program
The Company uses borrowings under its commercial paper program for general corporate purposes. The maximum aggregate amount of unsecured commercial paper notes available to be issued, on a private placement basis, under the commercial paper program is $2.0 billion as of December 31, 2017. Under the commercial paper program, the Company may issue notes from time to time through Ingersoll-Rand Global Holding Company Limited or Ingersoll-Rand Luxembourg Finance S.A. Each of Ingersoll-Rand plc, Ingersoll-Rand Irish Holdings Unlimited Company, Ingersoll-Rand Lux International Holding Company S.à.r.l., Ingersoll-Rand Global Holding Company Limited and Ingersoll-Rand Company provided irrevocable and unconditional guarantees for any notes issued under the commercial paper program. At December 31, 2017, the Company had no outstanding balance under its commercial paper program.
Debentures with Put Feature
At December 31, 2017 and December 31, 2016, the Company had $343.0 million of fixed rate debentures outstanding which contain a put feature that the holders may exercise on each anniversary of the issuance date.  If exercised, the Company is obligated to repay in whole or in part, at the holder’s option, the outstanding principal amount of the debentures plus accrued interest. If these options are not exercised, the final contractual maturity dates would range between 2027 and 2028. Holders of these debentures had the option to exercise the put feature on each of the outstanding debentures in 2017, subject to the notice requirement. No material exercises were made.
At December 31, long-term debt excluding current maturities consisted of:
In millions
 
2017
 
2016
6.875% Senior notes due 2018
 
$
—

 
$
748.6

2.875% Senior notes due 2019
 
349.4

 
348.6

2.625% Senior notes due 2020
 
298.9

 
298.5

9.000% Debentures due 2021
 
124.9

 
124.8

4.250% Senior notes due 2023
 
696.5

 
695.6

7.200% Debentures due 2018-2025
 
52.3

 
59.7

3.550% Senior notes due 2024
 
495.2

 
494.5

6.48% Debentures due 2025
 
149.7

 
149.7

5.750% Senior notes due 2043
 
494.0

 
493.6

4.650% Senior notes due 2044
 
295.6

 
295.4

Other loans and notes, at end-of-year average interest rates of 5.71% in 2017 and
6.79% in 2016, maturing in various amounts to 2022
 
0.5

 
0.4

Total
 
$
2,957.0

 
$
3,709.4


Scheduled maturities of long-term debt, including current maturities, as of December 31, 2017 are as follows:
In millions
  
2018
$
1,100.3

2019
357.2

2020
306.6

2021
132.4

2022
7.5

Thereafter
2,153.3

Total
$
4,057.3


Other Credit Facilities
The Company maintains two 5-year, $1.0 billion revolving credit facilities (the Facilities) through its wholly-owned subsidiaries, Ingersoll-Rand Global Holding Company Limited and Ingersoll-Rand Luxembourg Finance S.A. (collectively, the Borrowers). Each senior unsecured credit facility, one of which matures in March 2019 and the other in March 2021, provides support for the Company's commercial paper program and can be used for working capital and other general corporate purposes. Ingersoll-Rand plc, Ingersoll-Rand Irish Holdings Unlimited Company, Ingersoll-Rand Lux International Holding Company S.à.r.l. and Ingersoll-Rand Company each provide irrevocable and unconditional guarantees for these Facilities.  In addition, each Borrower will guarantee the obligations under the Facilities of the other Borrower. Total commitments of $2.0 billion were unused at December 31, 2017 and December 31, 2016.
Fair Value of Debt
The carrying value of the Company's short-term borrowings is a reasonable estimate of fair value due to the short-term nature of the instruments. The fair value of the Company's debt instruments at December 31, 2017 and December 31, 2016 was $4,462.2 million and $4,428.9 million, respectively. The Company measures the fair value of its long-term debt instruments for disclosure purposes based upon observable market prices quoted on public exchanges for similar assets. These fair value inputs are considered Level 2 within the fair value hierarchy. The methodologies used by the Company to determine the fair value of its long-term debt instruments at December 31, 2017 are the same as those used at December 31, 2016.
Guarantees
Along with Ingersoll-Rand plc, certain of the Company's 100% directly or indirectly owned subsidiaries have fully and unconditionally guaranteed, on a joint and several basis, public debt issued by other 100% directly or indirectly owned subsidiaries. Refer to Note 20 for the Company's current guarantor structure.
Financial Instruments
Financial Instruments
FINANCIAL INSTRUMENTS
In the normal course of business, the Company is exposed to certain risks arising from business operations and economic factors. These fluctuations can increase the cost of financing, investing and operating the business. The Company may use various financial instruments, including derivative instruments, to manage the risks associated with interest rate and currency rate exposures. These financial instruments are not used for trading or speculative purposes.
On the date a derivative contract is entered into, the Company designates the derivative instrument as a cash flow hedge of a forecasted transaction or as an undesignated derivative. The Company formally documents its hedge relationships, including identification of the derivative instruments and the hedged items, as well as its risk management objectives and strategies for undertaking the hedge transaction. This process includes linking derivative instruments that are designated as hedges to specific assets, liabilities or forecasted transactions.
The Company assesses at inception and at least quarterly thereafter, whether the derivatives used in cash flow hedging transactions are highly effective in offsetting the changes in the cash flows of the hedged item. To the extent the derivative is deemed to be a highly effective hedge, the fair market value changes of the instrument are recorded to Accumulated other comprehensive income (AOCI). Any ineffective portion of a derivative instrument’s change in fair value is recorded in Net earnings in the period of change. If the hedging relationship ceases to be highly effective, or it becomes probable that a forecasted transaction is no longer expected to occur, the hedging relationship will be undesignated and any future gains and losses on the derivative instrument will be recorded in Net earnings.
The fair values of derivative instruments included within the Consolidated Balance Sheet as of December 31 were as follows:
 
 
Derivative assets
 
Derivative liabilities
In millions
 
2017
 
2016
 
2017
 
2016
Derivatives designated as hedges:
 
 
 
 
 
 
 
 
Currency derivatives
 
$
—

 
$
0.3

 
$
1.3

 
$
2.9

Derivatives not designated as hedges:
 
 
 
 
 
 
 
 
Currency derivatives
 
7.2

 
0.3

 
1.2

 
17.9

Total derivatives
 
$
7.2

 
$
0.6

 
$
2.5

 
$
20.8


Asset and liability derivatives included in the table above are recorded within Other current assets and Accrued expenses and other current liabilities, respectively.
Currency Hedging Instruments
The notional amount of the Company’s currency derivatives was $0.7 billion and $1.1 billion at December 31, 2017 and 2016, respectively. At December 31, 2017 and 2016, a net gain of $1.2 million and $2.4 million, net of tax, respectively, was included in AOCI related to the fair value of the Company’s currency derivatives designated as accounting hedges. The amount expected to be reclassified into Net earnings over the next twelve months is a gain of $1.2 million. The actual amounts that will be reclassified to Net earnings may vary from this amount as a result of changes in market conditions. Gains and losses associated with the Company’s currency derivatives not designated as hedges are recorded in Net earnings as changes in fair value occur. At December 31, 2017, the maximum term of the Company’s currency derivatives was approximately 12 months.
Other Derivative Instruments
The Company has utilized forward-starting interest rate swaps and interest rate locks to manage interest rate exposure in periods prior to the anticipated issuance of fixed-rate debt. These instruments were designated as cash flow hedges and had a notional amount of $1.3 billion at December 31, 2017 and 2016. Consequently, when the contracts were settled upon the issuance of the underlying debt, any realized gains or losses in the fair values of the instruments were deferred into Accumulated other comprehensive income. These deferred gains or losses are subsequently recognized into Interest expense over the term of the related notes. The net unrecognized gain in AOCI was $6.6 million and $6.0 million at December 31, 2017 and at December 31, 2016. The deferred gain at December 31, 2017 will be amortized over the term of notes with maturities ranging from 2018 to 2044. The amount expected to be amortized over the next twelve months is a net loss of $0.1 million. The Company has no forward-starting interest rate swaps or interest rate lock contracts outstanding at December 31, 2017 or 2016.
The following table represents the amounts associated with derivatives designated as hedges affecting Net earnings and AOCI for the years ended December 31:
 
 
Amount of gain (loss)
recognized in AOCI
 
Location of gain (loss) reclassified from AOCI and recognized into Net earnings
 
Amount of gain (loss) reclassified from AOCI and recognized into Net earnings
In millions
 
2017
 
2016
 
2015
 
 
2017
 
2016
 
2015
Currency derivatives designated as hedges
 
$
(1.8
)
 
$
2.2

 
$
1.2

 
Cost of goods sold
 
$
(3.1
)
 
$
5.3

 
$
(2.1
)
Interest rate swaps & locks
 
—

 
—

 
—

 
Interest expense
 
(0.5
)
 
(0.5
)
 
(0.5
)
Total
 
$
(1.8
)
 
$
2.2

 
$
1.2

 
 
 
$
(3.6
)
 
$
4.8

 
$
(2.6
)

The following table represents the amounts associated with derivatives not designated as hedges affecting Net earnings for the years ended December 31:
In millions
 
Location of gain (loss) recognized in Net earnings
 
Amount of gain (loss) recognized in Net earnings
2017
 
2016
 
2015
Currency derivatives
 
Other income/(expense), net
 
$
58.0

 
$
(39.2
)
 
$
0.1

Total
 
 
 
$
58.0

 
$
(39.2
)

$
0.1


The gains and losses associated with the Company’s undesignated currency derivatives are materially offset in Other income/(expense), net by changes in the fair value of the underlying transactions.
Concentration of Credit Risk
The counterparties to the Company’s forward contracts consist of a number of investment grade major international financial institutions. The Company could be exposed to losses in the event of nonperformance by the counterparties. However, the credit ratings and the concentration of risk in these financial institutions are monitored on a continuous basis and present no significant credit risk to the Company.
Fair Value Measurements
Fair Value, Measurement Inputs, Disclosure [Text Block]
FAIR VALUE MEASUREMENTS
ASC 820, "Fair Value Measurement," (ASC 820) defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC 820 also establishes a three-level fair value hierarchy that prioritizes information used in developing assumptions when pricing an asset or liability as follows:
•
Level 1: Observable inputs such as quoted prices in active markets;
•
Level 2: Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and
•
Level 3: Unobservable inputs where there is little or no market data, which requires the reporting entity to develop its own assumptions.
ASC 820 requires the use of observable market data, when available, in making fair value measurements. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement.
The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2017:
In Millions
Fair Value
 
Fair value measurements
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
Derivative instruments
$
7.2

 
$
—

 
$
7.2

 
$
—

Liabilities:
 
 
 
 
 
 
 
Derivative instruments
$
2.5

 
$
—

 
$
2.5

 
$
—


The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2016:
In Millions
Fair Value
 
Fair value measurements
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
Derivative instruments
$
0.6

 
$
—

 
$
0.6

 
$
—

Liabilities:
 
 
 
 
 
 
 
Derivative instruments
$
20.8

 
$
—

 
$
20.8

 
$
—


Derivative instruments include forward foreign currency contracts and instruments related to non-functional currency balance sheet exposures. The fair value of the derivative instruments are determined based on a pricing model that uses spot rates and forward prices from actively quoted currency markets that are readily accessible and observable.
The carrying values of cash and cash equivalents, accounts receivable and accounts payable are a reasonable estimate of their fair value due to the short-term nature of these instruments. These methodologies used by the Company to determine the fair value of its financial assets and liabilities at December 31, 2017 are the same as those used at December 31, 2016. There have been no transfers between levels of the fair value hierarchy.
Pensions and Postretirement Benefits Other Than Pensions
Pensions and Postretirement Benefits Other Than Pensions
PENSIONS AND POSTRETIREMENT BENEFITS OTHER THAN PENSIONS
The Company sponsors several U.S. defined benefit and defined contribution plans covering substantially all of the Company's U.S. employees. Additionally, the Company has many non-U.S. defined benefit and defined contribution plans covering eligible non-U.S. employees. Postretirement benefits other than pensions (OPEB) provide healthcare benefits, and in some instances, life insurance benefits for certain eligible employees.
On January 1, 2017, the Company adopted ASU 2017-07 which requires the Company to present the service cost component of net periodic benefit cost in the same income statement line as other employee compensation costs with the remaining components of net periodic benefit cost presented separately from the service cost component and outside of any subtotal of operating income, if one is presented. The Company applied the presentation requirements retrospectively.
Pension Plans
The noncontributory defined benefit pension plans covering non-collectively bargained U.S. employees provide benefits on a final average pay formula while plans for most collectively bargained U.S. employees provide benefits on a flat dollar benefit formula or a percentage of pay formula. The non-U.S. pension plans generally provide benefits based on earnings and years of service. The Company also maintains additional other supplemental plans for officers and other key or highly compensated employees.
The following table details information regarding the Company’s pension plans at December 31:
In millions
 
2017
 
2016
Change in benefit obligations:
 
 
 
 
Benefit obligation at beginning of year
 
$
3,531.9

 
$
3,523.8

Service cost
 
70.8

 
72.1

Interest cost
 
109.0

 
110.2

Employee contributions
 
1.1

 
1.0

Amendments
 
3.8

 
6.2

Actuarial (gains) losses
 
175.8

 
129.6

Benefits paid
 
(194.8
)
 
(203.5
)
Currency translation
 
69.6

 
(89.4
)
Curtailments, settlements and special termination benefits
 
(13.1
)
 
(1.6
)
Other, including expenses paid
 
(11.9
)
 
(16.5
)
Benefit obligation at end of year
 
$
3,742.2

 
$
3,531.9

Change in plan assets:
 
 
 
 
Fair value at beginning of year
 
$
2,797.1

 
$
2,772.0

Actual return on assets
 
326.9

 
274.9

Company contributions
 
101.4

 
56.4

Employee contributions
 
1.1

 
1.0

Benefits paid
 
(194.8
)
 
(203.5
)
Currency translation
 
59.0

 
(85.6
)
Settlements
 
(13.5
)
 
(1.6
)
Other, including expenses paid
 
(14.1
)
 
(16.5
)
Fair value of assets end of year
 
$
3,063.1

 
$
2,797.1

Net unfunded liability
 
$
(679.1
)
 
$
(734.8
)
Amounts included in the balance sheet:
 
 
 
 
Other noncurrent assets
 
$
61.7

 
$
19.2

Accrued compensation and benefits
 
(15.3
)
 
(6.4
)
Postemployment and other benefit liabilities
 
(725.5
)
 
(747.6
)
Net amount recognized
 
$
(679.1
)
 
$
(734.8
)

It is the Company’s objective to contribute to the pension plans to ensure adequate funds, and no less than required by law, are available in the plans to make benefit payments to plan participants and beneficiaries when required. However, certain plans are not or cannot be funded due to either legal, accounting, or tax requirements in certain jurisdictions. As of December 31, 2017, approximately seven percent of the Company's projected benefit obligation relates to plans that cannot be funded.
The pretax amounts recognized in Accumulated other comprehensive income (loss) are as follows:
In millions
 
Prior service benefit (cost)
 
Net actuarial gains (losses)
 
Total
December 31, 2016
 
$
(25.5
)
 
$
(886.8
)
 
$
(912.3
)
Current year changes recorded to AOCI
 
(3.8
)
 
9.4

 
5.6

Amortization reclassified to earnings
 
3.8

 
56.8

 
60.6

Settlements/curtailments reclassified to earnings (1)
 
4.7

 
3.0

 
7.7

Currency translation and other
 
0.6

 
(15.9
)
 
(15.3
)
December 31, 2017
 
$
(20.2
)
 
$
(833.5
)
 
$
(853.7
)

(1) Includes $2.5 million recorded in restructuring charges.
Weighted-average assumptions used to determine the benefit obligation at December 31 are as follows:
 
 
2017
 
2016
Discount rate:
 
 
 
 
U.S. plans
 
3.54
%
 
3.97
%
Non-U.S. plans
 
2.29
%
 
2.40
%
Rate of compensation increase:
 
 
 
 
U.S. plans
 
4.00
%
 
4.00
%
Non-U.S. plans
 
4.00
%
 
4.00
%

The accumulated benefit obligation for all defined benefit pension plans was $3,626.7 million and $3,418.2 million at December 31, 2017 and 2016, respectively. The projected benefit obligation, accumulated benefit obligation, and fair value of plan assets for pension plans with accumulated benefit obligations more than plan assets were $3,291.4 million, $3,194.7 million and $2,554.0 million, respectively, as of December 31, 2017, and $3,095.1 million, $3,002.0 million and $2,346.4 million, respectively, as of December 31, 2016.
Pension benefit payments are expected to be paid as follows:
In millions
  
2018
$
215.2

2019
209.0

2020
218.7

2021
218.4

2022
220.7

2023 — 2027
1,136.9



The components of the Company’s net periodic pension benefit costs for the years ended December 31 include the following:
In millions
 
2017
 
2016
 
2015
Service cost
 
$
70.8

 
$
72.1

 
$
75.2

Interest cost
 
109.0

 
110.2

 
129.5

Expected return on plan assets
 
(141.7
)
 
(146.1
)
 
(158.3
)
Net amortization of:
 
 
 
 
 
 
Prior service costs (benefits)
 
3.8

 
4.7

 
3.2

Plan net actuarial (gains) losses
 
56.8

 
61.6

 
60.7

Net periodic pension benefit cost
 
98.7

 
102.5

 
110.3

Net curtailment, settlement, and special termination benefits (gains) losses
 
5.6

 
2.1

 
0.7

Net periodic pension benefit cost after net curtailment and settlement (gains) losses
 
$
104.3

 
$
104.6

 
$
111.0

Amounts recorded in continuing operations:
 
 
 
 
 
 
   Operating income
 
$
68.2

 
$
69.3

 
$
73.6

   Other income/(expense), net
 
25.4

 
25.5

 
27.1

Amounts recorded in discontinued operations
 
10.7

 
9.8

 
10.3

Total
 
$
104.3

 
$
104.6

 
$
111.0


During 2017, the Company recognized a curtailment loss associated with certain defined benefit plan freezes that is effective January 1, 2022. As a result, projected benefit obligations for these plans were remeasured as of January 31, 2017. Also during 2017, the Company recognized settlement losses associated with lump sum distributions of non-U.S. defined benefit plans.
Net periodic pension benefit cost for 2018 is projected to be approximately $86.1 million. The amounts expected to be recognized in net periodic pension benefit cost during the year ended 2018 for prior service cost and plan net actuarial losses are $4.2 million and $49.9 million, respectively.
Weighted-average assumptions used to determine net periodic pension cost for the years ended December 31 are as follows:
 
 
2017
 
2016
 
2015
Discount rate:
 
 
 
 
 
 
U.S. plans
 
 
 
 
 
 
Service cost
 
4.18
%
 
4.25
%
 
3.75
%
Interest cost
 
3.36
%
 
3.29
%
 
3.75
%
Non-U.S. plans
 


 


 


Service cost
 
2.66
%
 
3.05
%
 
3.25
%
Interest cost
 
2.50
%
 
3.18
%
 
3.25
%
Rate of compensation increase:
 
 
 
 
 
 
U.S. plans
 
4.00
%
 
4.00
%
 
4.00
%
Non-U.S. plans
 
4.00
%
 
4.00
%
 
4.00
%
Expected return on plan assets:
 
 
 
 
 
 
U.S. plans
 
5.50
%
 
5.75
%
 
5.75
%
Non-U.S. plans
 
3.25
%
 
3.75
%
 
4.25
%

The expected long-term rate of return on plan assets reflects the average rate of returns expected on the funds invested or to be invested to provide for the benefits included in the projected benefit obligation. The expected long-term rate of return on plan assets is based on what is achievable given the plan’s investment policy, the types of assets held and target asset allocations. The expected long-term rate of return is determined as of the measurement date. The Company reviews each plan and its historical returns and target asset allocations to determine the appropriate expected long-term rate of return on plan assets to be used.
The Company's objective in managing its defined benefit plan assets is to ensure that all present and future benefit obligations are met as they come due. It seeks to achieve this goal while trying to mitigate volatility in plan funded status, contribution, and expense by better matching the characteristics of the plan assets to that of the plan liabilities. The Company utilizes a dynamic approach to asset allocation whereby a plan's allocation to fixed income assets increases as the plan's funded status improves. The Company monitors plan funded status and asset allocation regularly in addition to investment manager performance.
The fair values of the Company’s pension plan assets at December 31, 2017 by asset category are as follows:
 
 
Fair value measurements
 
Net asset value
 
Total
fair value
In millions
 
Level 1
 
Level 2
 
Level 3
 
 
Cash and cash equivalents
 
$
4.8

 
$
35.4

 
$
—

 
$
—

 
$
40.2

Equity investments:
 
 
 
 
 
 
 
 
 
 
Registered mutual funds – equity specialty
 
—

 
—

 
—

 
77.6

 
77.6

Commingled funds – equity specialty
 
—

 
—

 
—

 
674.7

 
674.7

 
 
—

 
—

 
—

 
752.3

 
752.3

Fixed income investments:
 
 
 
 
 
 
 
 
 
 
U.S. government and agency obligations
 
—

 
517.5

 
—

 
—

 
517.5

Corporate and non-U.S. bonds(a)
 
—

 
1,336.8

 
—

 
—

 
1,336.8

Asset-backed and mortgage-backed securities
 
—

 
69.0

 
—

 
—

 
69.0

Registered mutual funds – fixed income specialty
 
—

 
—

 
—

 
111.0

 
111.0

Commingled funds – fixed income specialty
 
—

 
—

 
—

 
131.8

 
131.8

Other fixed income(b)
 
—

 
—

 
26.3

 
—

 
26.3

 
 
—

 
1,923.3

 
26.3

 
242.8

 
2,192.4

Derivatives
 
—

 
(0.3
)
 
—

 
—

 
(0.3
)
Real estate(c)
 
—

 
—

 
4.9

 
—

 
4.9

Other(d)
 
—

 
—

 
79.0

 
—

 
79.0

Total assets at fair value
 
$
4.8

 
$
1,958.4

 
$
110.2

 
$
995.1

 
$
3,068.5

Receivables and payables, net
 
 
 
 
 
 
 
 
 
(5.4
)
Net assets available for benefits
 
 
 
 
 
 
 
 
 
$
3,063.1


The fair values of the Company’s pension plan assets at December 31, 2016 by asset category are as follows:
 
 
Fair value measurements
 
Net asset value
 
Total
fair value
In millions
 
Level 1
 
Level 2
 
Level 3
 
Cash and cash equivalents
 
$
11.8

 
$
17.0

 
$
—

 
$
—

 
$
28.8

Equity investments:
 
 
 
 
 
 
 
 
 
 
Registered mutual funds – equity specialty
 
—

 
—

 
—

 
73.9

 
73.9

Commingled funds – equity specialty
 
—

 
—

 
—

 
640.8

 
640.8

 
 
—

 
—

 
—

 
714.7

 
714.7

Fixed income investments:
 
 
 
 
 
 
 
 
 
 
U.S. government and agency obligations
 
—

 
460.0

 
—

 
—

 
460.0

Corporate and non-U.S. bonds(a)
 
—

 
1,178.3

 
—

 
—

 
1,178.3

Asset-backed and mortgage-backed securities
 
—

 
74.0

 
—

 
—

 
74.0

Registered mutual funds – fixed income specialty
 
—

 
—

 
—

 
132.4

 
132.4

Commingled funds – fixed income specialty
 
—

 
—

 
—

 
96.0

 
96.0

Other fixed income(b)
 
—

 
—

 
25.4

 
—

 
25.4

 
 
—

 
1,712.3

 
25.4

 
228.4

 
1,966.1

Derivatives
 
—

 
(0.9
)
 
—

 
—

 
(0.9
)
Real estate(c)
 
—

 
—

 
7.3

 
—

 
7.3

Other(d)
 
—

 
—

 
64.3

 
—

 
64.3

Total assets at fair value
 
$
11.8

 
$
1,728.4

 
$
97.0

 
$
943.1

 
$
2,780.3

Receivables and payables, net
 
 
 
 
 
 
 
 
 
16.8

Net assets available for benefits
 
 
 
 
 
 
 
 
 
$
2,797.1

(a)
This class includes state and municipal bonds.
(b)
This class includes group annuity and guaranteed interest contracts.
(c)
This class includes a private equity fund that invests in real estate.
(d)
This investment comprises the Company's non-significant, non-US pension plan assets. It primarily includes insurance contracts.
Cash equivalents are valued using a market approach with inputs including quoted market prices for either identical or similar instruments. Fixed income securities are valued through a market approach with inputs including, but not limited to, benchmark yields, reported trades, broker quotes and issuer spreads. Commingled funds are valued at their daily net asset value (NAV) per share or the equivalent. NAV per share or the equivalent is used for fair value purposes as a practical expedient. NAVs are calculated by the investment manager or sponsor of the fund. Private real estate fund values are reported by the fund manager and are based on valuation or appraisal of the underlying investments. Refer to Note 9, "Fair Value Measurements" for additional information related to the fair value hierarchy defined by ASC 820. There have been no significant transfers between levels of the fair value hierarchy.
The Company made required and discretionary contributions to its pension plans of $101.4 million in 2017, $56.4 million in 2016, and $35.6 million in 2015 and currently projects that it will contribute approximately $75.2 million to its plans worldwide in 2018. The Company’s policy allows it to fund an amount, which could be in excess of or less than the pension cost expensed, subject to the limitations imposed by current tax regulations. However, the Company anticipates funding the plans in 2018 in accordance with contributions required by funding regulations or the laws of each jurisdiction. In October 2017, the U.S. Internal Revenue Service (IRS) issued final mortality regulations effective for plan years beginning in 2018 with the option to defer recognition for one year under certain exemption criteria. The Company has chosen to defer recognition of new IRS mortality rates for one year.
Most of the Company’s U.S. employees are covered by defined contribution plans. Employer contributions are determined based on criteria specific to the individual plans and amounted to approximately $118.7 million, $108.3 million, and $98.1 million in 2017, 2016 and 2015, respectively. The Company’s contributions relating to non-U.S. defined contribution plans and other non-U.S. benefit plans were $47.7 million, $39.9 million and $30.5 million in 2017, 2016 and 2015, respectively.
Multiemployer Pension Plans
The Company also participates in a number of multiemployer defined benefit pension plans related to collectively bargained U.S. employees of Trane. The Company's contributions, and the administration of the fixed retirement payments, are determined by the terms of the related collective-bargaining agreements. These multiemployer plans pose different risks to the Company than single-employer plans, including:
1.
The Company's contributions to multiemployer plans may be used to provide benefits to all participating employees of the program, including employees of other employers.
2.
In the event that another participating employer ceases contributions to a plan, the Company may be responsible for any unfunded obligations along with the remaining participating employers.
3.
If the Company chooses to withdraw from any of the multiemployer plans, the Company may be required to pay a withdrawal liability, based on the underfunded status of the plan.
As of December 31, 2017, the Company does not participate in any plans that are individually significant, nor is the Company an individually significant participant to any of these plans. Total contributions to multiemployer plans for the years ended December 31 were as follows:
In millions
 
2017
 
2016
 
2015
Total contributions
 
$
9.0

 
$
7.7

 
$
6.7


Contributions to these plans may increase in the event that any of these plans are underfunded.
Postretirement Benefits Other Than Pensions
The Company sponsors several postretirement plans that provide for healthcare benefits, and in some instances, life insurance benefits that cover certain eligible employees. These plans are unfunded and have no plan assets, but are instead funded by the Company on a pay-as-you-go basis in the form of direct benefit payments. Generally, postretirement health benefits are contributory with contributions adjusted annually. Life insurance plans for retirees are primarily noncontributory.

The following table details changes in the Company’s postretirement plan benefit obligations for the years ended December 31:
In millions
 
2017
 
2016
Benefit obligation at beginning of year
 
$
578.6

 
$
624.1

Service cost
 
3.1

 
3.7

Interest cost
 
15.7

 
17.5

Plan participants’ contributions
 
9.8

 
10.2

Actuarial (gains) losses
 
(30.2
)
 
(24.4
)
Benefits paid, net of Medicare Part D subsidy (1)
 
(55.4
)
 
(55.7
)
Special termination benefits recorded in restructuring
 
5.9

 
—

Other
 
0.5

 
3.2

Benefit obligations at end of year
 
$
528.0

 
$
578.6

(1) Amounts are net of Medicare Part D subsidy of $1.1 million and $2.5 million in 2017 and 2016, respectively

The benefit plan obligations are reflected in the Consolidated Balance Sheets as follows:
In millions
 
December 31, 2017
 
December 31, 2016
Accrued compensation and benefits
 
$
(48.5
)
 
$
(53.3
)
Postemployment and other benefit liabilities
 
(479.5
)
 
(525.3
)
Total
 
$
(528.0
)
 
$
(578.6
)

The pre-tax amounts recognized in Accumulated other comprehensive income (loss) were as follows:
In millions
 
Prior service benefit (cost)
 
Net actuarial gains (losses)
 
Total
Balance at December 31, 2016
 
$
12.7

 
$
0.8

 
$
13.5

Gain (loss) in current period
 
—

 
30.2

 
30.2

Amortization reclassified to earnings
 
(8.6
)
 
0.1

 
(8.5
)
Currency translation and other
 
—

 
(0.1
)
 
(0.1
)
Balance at December 31, 2017
 
$
4.1

 
$
31.0

 
$
35.1


The components of net periodic postretirement benefit (income) cost for the years ended December 31 were as follows:
In millions
 
2017
 
2016
 
2015
Service cost
 
$
3.1

 
$
3.7

 
$
4.4

Interest cost
 
15.7

 
17.5

 
22.6

Net amortization of:
 
 
 
 
 
 
Prior service costs (benefits)
 
(8.6
)
 
(8.9
)
 
(8.9
)
Net actuarial (gains) losses
 
0.1

 
0.1

 
0.1

Net periodic postretirement benefit cost
 
$
10.3

 
$
12.4

 
$
18.2

Amounts recorded in continuing operations:
 


 


 


   Operating income
 
$
3.1

 
$
3.7

 
$
4.4

   Other income/(expense), net
 
5.6

 
4.6

 
6.6

Amounts recorded in discontinued operations
 
1.6

 
4.1

 
7.2

Total
 
$
10.3

 
$
12.4

 
$
18.2


Postretirement cost for 2018 is projected to be $14.1 million. The amount expected to be recognized in net periodic postretirement benefits cost in 2018 for prior service gains is $3.8 million.
Weighted-average assumptions used to determine net periodic benefit cost for the years ended December 31 are as follows:
 
 
2017
 
2016
 
2015
Discount rate:
 
 
 
 
 
 
Benefit obligations at December 31
 
3.38
%
 
3.73
%
 
3.88
%
Net periodic benefit cost
 
 
 
 
 
 
Service cost
 
3.82
%
 
3.97
%
 
3.50
%
Interest cost
 
2.99
%
 
2.99
%
 
3.50
%
Assumed health-care cost trend rates at December 31:
 
 
 
 
 
 
Current year medical inflation
 
6.85
%
 
7.25
%
 
7.25
%
Ultimate inflation rate
 
5.00
%
 
5.00
%
 
5.00
%
Year that the rate reaches the ultimate trend rate
 
2023

 
2023

 
2023


A 1% change in the assumed medical trend rate would have the following effects as of and for the year ended December 31, 2017:
In millions
 
1%
Increase
 
1%
Decrease
Effect on total of service and interest cost components of current year benefit cost
 
$
0.7

 
$
(0.6
)
Effect on benefit obligation at year-end
 
18.5

 
(16.1
)

Benefit payments for postretirement benefits, which are net of expected plan participant contributions and Medicare Part D subsidy, are expected to be paid as follows:
In millions
  
2018
$
49.4

2019
47.7

2020
45.8

2021
44.3

2022
42.3

2023 — 2026
178.7

Equity
Shareholders' Equity
EQUITY
The authorized share capital of Ingersoll Rand plc is 1,185,040,000 shares, consisting of (1) 1,175,000,000 ordinary shares, par value $1.00 per share, (2) 40,000 ordinary shares, par value EUR 1.00 and (3) 10,000,000 preference shares, par value $0.001 per share. There were no preference shares or Euro-denominated ordinary shares outstanding at December 31, 2017 or 2016.
The changes in ordinary shares and treasury shares for the year ended December 31, 2017 are as follows:
In millions
Ordinary shares issued
 
Ordinary shares held in treasury
December 31, 2016
271.7

 
12.7

Shares issued under incentive plans
2.3

 
—

Repurchase of ordinary shares
—

 
11.8

December 31, 2017
274.0

 
24.5


Share repurchases are made from time to time in accordance with management's capital allocation strategy, subject to market conditions and regulatory requirements. In February 2014, the Company's Board of Directors authorized the repurchase of up to $1.5 billion of our ordinary shares under a share repurchase program that began in April 2014. Shares repurchased prior to October 2014 were canceled upon repurchase and accounted for as a reduction of Ordinary shares and Capital in excess of par value, or Retained earnings to the extent Capital in excess of par value was exhausted. Beginning in October 2014, repurchased shares were held in treasury and recognized at cost. Ordinary shares held in treasury are presented separately on the balance sheet as a reduction to Equity. This repurchase program was completed in the second quarter of 2017.
In February 2017, the Company's Board of Directors authorized the repurchase of up to 1.5 billion of its ordinary shares under a new share repurchase program upon completion of the prior authorized share repurchase program. Repurchases under this program began in May 2017 and total approximately $600 million at December 31, 2017. As a result, the Company has approximately $900 million remaining under this program. The Company repurchased approximately $1.0 billion of its ordinary shares during 2017.
Other Comprehensive Income (Loss)
The changes in Accumulated other comprehensive income (loss) are as follows:
In millions
 
Derivative Instruments
 
Pension and OPEB Items
 
Foreign Currency Translation
 
Total
December 31, 2015
 
$
5.1

 
$
(630.4
)
 
$
(495.6
)
 
$
(1,120.9
)
Other comprehensive income (loss) attributable to Ingersoll-Rand plc
 
(2.2
)
 
76.0

 
(243.4
)
 
(169.6
)
December 31, 2016
 
$
2.9

 
$
(554.4
)
 
$
(739.0
)
 
$
(1,290.5
)
Other comprehensive income (loss) attributable to Ingersoll-Rand plc
 
1.8

 
60.1

 
449.8

 
511.7

December 31, 2017
 
$
4.7

 
$
(494.3
)
 
$
(289.2
)
 
$
(778.8
)

The amounts of Other comprehensive income (loss) attributable to noncontrolling interests for 2017, 2016 and 2015 were $0.5 million, $9.6 million and ($4.3 million), respectively, related to currency translation.
Share-Based Compensation
Share-Based Compensation
SHARE-BASED COMPENSATION
The Company accounts for stock-based compensation plans in accordance with ASC 718, "Compensation - Stock Compensation" (ASC 718), which requires a fair-value based method for measuring the value of stock-based compensation. Fair value is measured once at the date of grant and is not adjusted for subsequent changes. The Company’s share-based compensation plans include programs for stock options, restricted stock units (RSUs), performance share units (PSUs), and deferred compensation. Under the Company's incentive stock plan, the total number of ordinary shares authorized by the shareholders is 20.0 million, of which 6.8 million remains available as of December 31, 2017 for future incentive awards.
Compensation Expense
Share-based compensation expense related to continuing operations is included in Selling and administrative expenses. The following table summarizes the expenses recognized:
In millions
 
2017
 
2016
 
2015
Stock options
 
$
19.5

 
$
18.1

 
$
16.3

RSUs
 
26.4

 
26.3

 
24.7

PSUs
 
23.0

 
19.9

 
20.5

Deferred compensation
 
3.1

 
3.2

 
1.7

Other
 
1.6

 
2.1

 
(0.5
)
Pre-tax expense
 
73.6

 
69.6

 
62.7

Tax benefit
 
28.2

 
26.6

 
24.0

After-tax expense
 
$
45.4

 
$
43.0

 
$
38.7

Amounts recorded in continuing operations
 
$
45.4

 
$
43.0

 
$
38.7

Amounts recorded in discontinued operations
 
—

 
—

 
—

Total
 
$
45.4

 
$
43.0

 
$
38.7


Stock Options / RSUs
Eligible participants may receive (i) stock options, (ii) RSUs or (iii) a combination of both stock options and RSUs. The fair value of each of the Company’s stock option and RSU awards is expensed on a straight-line basis over the required service period, which is generally the 3-year vesting period. However, for stock options and RSUs granted to retirement eligible employees, the Company recognizes expense for the fair value at the grant date.
The weighted average fair value of the stock options granted for the year ended December 31, 2017 and 2016 was estimated to be $13.46 per share and $9.42 per share, respectively, using the Black-Scholes option-pricing model. The following assumptions were used:
 
 
2017
 
2016
Dividend yield
 
2.00
%
 
2.55
%
Volatility
 
22.46
%
 
28.60
%
Risk-free rate of return
 
1.80
%
 
1.12
%
Expected life in years
 
4.8

 
4.8


A description of the significant assumptions used to estimate the fair value of the stock option awards is as follows:
•
Volatility - The expected volatility is based on a weighted average of the Company’s implied volatility and the most recent historical volatility of the Company’s stock commensurate with the expected life.
•
Risk-free rate of return -The Company applies a yield curve of continuous risk-free rates based upon the published US Treasury spot rates on the grant date.
•
Expected life - The expected life of the Company’s stock option awards represents the weighted-average of the actual period since the grant date for all exercised or cancelled options and an expected period for all outstanding options.
•
Dividend yield - The Company determines the dividend yield based upon the expected quarterly dividend payments as of the grant date and the current fair market value of the Company’s stock.
•
Forfeiture Rate - The Company analyzes historical data of forfeited options to develop a reasonable expectation of the number of options to forfeit prior to vesting per year. This expected forfeiture rate is applied to the Company’s ongoing compensation expense; however, all expense is adjusted to reflect actual vestings and forfeitures.
Changes in options outstanding under the plans for the years 2017, 2016 and 2015 are as follows:
 
 
Shares
subject
to option
 
Weighted-
average
exercise price
 
Aggregate
intrinsic
value (millions)
 
Weighted-
average
remaining life (years)
December 31, 2014
 
7,502,613

 
$
36.21

 
 
 
 
Granted
 
1,457,523

 
66.25

 
 
 
 
Exercised
 
(1,968,725
)
 
31.33

 
 
 
 
Cancelled
 
(155,382
)
 
61.03

 
 
 
 
December 31, 2015
 
6,836,029

 
43.46

 
 
 
 
Granted
 
1,958,476

 
50.04

 
 
 
 
Exercised
 
(1,854,058
)
 
33.71

 
 
 
 
Cancelled
 
(93,552
)
 
56.22

 
 
 
 
December 31, 2016
 
6,846,895

 
47.81

 
 
 
 
Granted
 
1,518,335

 
80.27

 
 
 
 
Exercised
 
(1,789,615
)
 
42.79

 
 
 
 
Cancelled
 
(220,733
)
 
61.91

 
 
 
 
Outstanding December 31, 2017
 
6,354,882

 
$
56.49

 
$
207.8

 
6.6
Exercisable December 31, 2017
 
3,287,183

 
$
47.05

 
$
138.5

 
5.1

The following table summarizes information concerning currently outstanding and exercisable options:
  
 
 
 
 
 
Options outstanding
 
Options exercisable
Range of
exercise price
 
Number
outstanding at
December 31,
2017
 
Weighted-
average
remaining
life (years)
 
Weighted-
average
exercise
price
 
Number
outstanding at
December 31,
2017
 
Weighted-
average
remaining
life (years)
 
Weighted-
average
exercise
price
$
10.01

 
—
 
$
20.00

 
114,014

 
1.1
 
$
13.41

 
114,014

 
1.1
 
$
13.41

20.01

 
—
 
30.00

 
192,486

 
2.4
 
25.50

 
192,486

 
2.4
 
25.50

30.01

 
—
 
40.00

 
766,181

 
3.2
 
34.24

 
766,181

 
3.2
 
34.24

40.01

 
—
 
50.00

 
2,191,425

 
7.1
 
47.84

 
994,766

 
6.0
 
45.24

50.01

 
—
 
60.00

 
683,184

 
5.9
 
59.60

 
662,087

 
5.9
 
59.72

60.01

 
—
 
70.00

 
944,661

 
6.8
 
67.05

 
553,808

 
6.7
 
67.09

70.01

 
—
 
80.00

 
14,031

 
9.0
 
75.67

 
—

 
0.0
 
—

80.01

 

 
90.00

 
1,448,900

 
9.0
 
80.31

 
3,841

 
2.6
 
80.21

$
10.74

 
—
 
$
88.46

 
6,354,882

 
6.6
 
$
56.49

 
3,287,183

 
5.1
 
$
47.05


At December 31, 2017, there was $12.6 million of total unrecognized compensation cost from stock option arrangements granted under the plan, which is primarily related to unvested shares of non-retirement eligible employees. The aggregate intrinsic value of options exercised during the year ended December 31, 2017 and 2016 was $72.7 million and $61.4 million, respectively. Generally, stock options expire ten years from their date of grant.
The following table summarizes RSU activity for the years 2017, 2016 and 2015:
 
 
RSUs
 
Weighted-
average grant
date fair value
Outstanding and unvested at December 31, 2014
 
1,047,749

 
$
47.60

Granted
 
429,828

 
66.42

Vested
 
(510,600
)
 
43.32

Cancelled
 
(44,366
)
 
59.98

Outstanding and unvested at December 31, 2015
 
922,611

 
$
58.14

Granted
 
486,401

 
51.28

Vested
 
(545,437
)
 
53.84

Cancelled
 
(27,826
)
 
58.19

Outstanding and unvested at December 31, 2016
 
835,749

 
$
56.95

Granted
 
372,443

 
81.09

Vested
 
(370,397
)
 
58.56

Cancelled
 
(34,096
)
 
63.79

Outstanding and unvested at December 31, 2017
 
803,699

 
$
67.09


At December 31, 2017, there was $18.8 million of total unrecognized compensation cost from RSU arrangements granted under the plan, which is related to unvested shares of non-retirement eligible employees.
Performance Shares
The Company has a Performance Share Program (PSP) for key employees. The program provides awards in the form of PSUs based on performance against pre-established objectives. The annual target award level is expressed as a number of the Company's ordinary shares. All PSUs are settled in the form of ordinary shares.
Beginning with the 2012 grant year, PSU awards are earned based 50% upon a performance condition, measured at each reporting period by relative EPS growth to the industrial group of companies in the S&P 500 Index and the fair market value of the Company's stock on the date of grant, and 50% upon a market condition, measured by the Company's relative total shareholder return (TSR) as compared to the TSR of the industrial group of companies in the S&P 500 Index over the 3-year performance period. The fair value of the market condition is estimated using a Monte Carlo Simulation approach in a risk-neutral framework based upon historical volatility, risk-free rates and correlation matrix. Awards granted prior to 2012 were earned based upon the Company's relative earnings-per-share (EPS) growth as compared to the industrial group of companies in the S&P 500 Index over the 3-year performance period.
The following table summarizes PSU activity for the maximum number of shares that may be issued for the years 2017, 2016 and 2015:
 
 
PSUs
 
Weighted-average grant date fair value
Outstanding and unvested at December 31, 2014
 
1,784,998

 
$
50.12

Granted
 
456,592

 
79.09

Vested
 
(723,250
)
 
41.03

Forfeited
 
(70,108
)
 
62.76

Outstanding and unvested at December 31, 2015
 
1,448,232

 
$
63.18

Granted
 
597,088

 
53.82

Vested
 
(462,035
)
 
46.81

Forfeited
 
(159,489
)
 
56.25

Outstanding and unvested at December 31, 2016
 
1,423,796

 
$
65.34

Granted
 
419,404

 
93.68

Vested
 
(353,834
)
 
65.35

Forfeited
 
(124,830
)
 
73.40

Outstanding and unvested at December 31, 2017
 
1,364,536

 
$
73.31


At December 31, 2017, there was $18.9 million of total unrecognized compensation cost from PSU arrangements based on current performance, which is related to unvested shares. This compensation will be recognized over the required service period, which is generally the three-year vesting period.
Deferred Compensation
The Company allows key employees to defer a portion of their eligible compensation into a number of investment choices, including its ordinary share equivalents. Any amounts invested in ordinary share equivalents will be settled in ordinary shares of the Company at the time of distribution.
Restructuring Activities
Restructuring Activities
RESTRUCTURING ACTIVITIES
The Company incurs costs associated with restructuring initiatives intended to result in improved operating performance, profitability and working capital levels. Actions associated with these initiatives include workforce reduction, improving manufacturing productivity, realignment of management structures and rationalizing certain assets. The following table details restructuring charges recorded during the years ended December 31 were as follows:
In millions
 
2017
 
2016
 
2015
Climate
 
$
42.3

 
$
6.2

 
$
11.9

Industrial
 
14.5

 
20.5

 
15.6

Corporate and Other
 
4.9

 
8.8

 
6.6

Total
 
$
61.7

 
$
35.5

 
$
34.1

 
 
 
 
 
 
 
Cost of goods sold
 
$
46.8

 
$
9.8

 
$
12.5

Selling and administrative expenses
 
14.9

 
25.7

 
21.6

Total
 
$
61.7

 
$
35.5

 
$
34.1


The changes in the restructuring reserve were as follows:
In millions
 
Climate
 
Industrial
 
Corporate
and Other
 
Total
December 31, 2015
 
$
3.7

 
$
1.9

 
$
0.2

 
$
5.8

Additions, net of reversals (1)
 
6.8

 
20.5

 
2.8

 
30.1

Cash paid
 
(7.1
)
 
(18.1
)
 
(2.4
)
 
(27.6
)
December 31, 2016
 
3.4

 
4.3

 
0.6

 
8.3

Additions, net of reversals (2)
 
25.6

 
14.5

 
4.9

 
45.0

Cash paid/Other
 
(21.6
)
 
(12.7
)
 
(3.0
)
 
(37.3
)
December 31, 2017
 
$
7.4

 
$
6.1

 
$
2.5

 
$
16.0


(1) Excludes the non-cash costs of asset rationalizations ($5.4 million).
(2) Excludes the non-cash costs of asset rationalizations ($8.4 million). In addition, a non-cash pension curtailment ($2.5 million) and an enhanced retiree medical benefit ($5.8 million) which were triggered upon announcement of the restructuring plan, impacted the Company's outstanding benefit obligations and are excluded from this table.
Ongoing restructuring actions primarily include workforce reductions as well as the closure and consolidation of multiple manufacturing facilities in an effort to improve the Company's cost structure. As of December 31, 2017, the Company had $16.0 million accrued for costs associated with its ongoing restructuring actions, of which a majority is expected to be paid within one year. These actions primarily relate to workforce reduction benefits. In addition, the Company incurred $1.9 million of non-qualified restructuring charges. These charges represent costs that are directly attributable to restructuring activities but do not fall into the severance, exit or disposal categories. However, they are incurred to improve the Company's cost structure.
In January 2018, the Company announced plans to close a non-U.S. manufacturing facility within its Industrial segment and relocate production to other U.S. and non-U.S. facilities.  The cost of this restructuring action is not expected to have a material impact on the Company’s financial statements.
Other, Net
Other, Net
The components of Other income/(expense), net for the years ended December 31, 2017, 2016 and 2015 are as follows:
In millions
 
2017
 
2016
 
2015
Interest income
 
$
9.4

 
$
8.0

 
$
10.6

Exchange gain (loss)
 
(8.8
)
 
(2.0
)
 
(36.2
)
Other components of net periodic benefit cost
 
(31.0
)
 
(30.1
)
 
(33.7
)
Income (loss) from equity investment
 
—

 
(0.8
)
 
12.6

Gain on sale of Hussmann equity investment
 
—

 
397.8

 
—

Other activity, net
 
(1.2
)
 
(13.3
)
 
25.9

Other income/(expense), net
 
$
(31.6
)
 
$
359.6

 
$
(20.8
)

Other income /(expense), net includes the results from activities other than normal business operations such as interest income and foreign currency gains and losses on transactions that are denominated in a currency other than an entity’s functional currency. In addition, the Company includes the components of net periodic benefit cost for pension and post retirement obligations other than the service cost component as a result of the adoption of ASU 2017-07. Other activity, net include costs associated with Trane U.S. Inc. (Trane) for the settlement and defense of asbestos-related claims, insurance settlements on asbestos-related matters and the revaluation of its liability for potential future claims. Refer to Note 19, "Commitments and Contingencies," for more information regarding asbestos-related matters. In addition, other activity, net for the year ended December 31, 2016 includes $16.4 million for the settlement of a lawsuit originally filed by a customer in 2012. The lawsuit related to a commercial HVAC contract entered into in 2001, prior to our acquisition of Trane. The charge represents the settlement and related legal costs recognized during 2016.
During the year ended December 31, 2015, the Company recognized a loss on foreign currency exchange of $36.2 million. This loss is comprised of a $42.6 million pre-tax charge related to the remeasurement of net monetary assets denominated in Venezuelan bolivar. This loss was partially offset by $6.4 million of foreign currency transaction gains resulting from the remeasurement of non-functional balance sheet positions into their functional currency.
Sale of Hussmann Equity Investment
During 2011, the Company completed the sale of a controlling interest of its Hussmann refrigerated display case business (Hussmann) to a newly-formed affiliate of private equity firm Clayton Dubilier & Rice, LLC (CD&R).  Per the terms of the agreement, CD&R’s ownership interest in Hussmann at the acquisition date was 60% with the remaining 40% being retained by the Company.  As a result, the Company accounted for its interest in Hussmann using the equity method of accounting.
On December 21, 2015, the Company announced it would sell its remaining equity interest in Hussmann as part of a transaction in which Panasonic Corporation would acquire 100 percent of Hussmann's outstanding shares. The transaction was completed on April 1, 2016. The Company received net proceeds of $422.5 million, for its interest and recognized a gain of $397.8 million on the sale.
Income Taxes
Income Taxes
INCOME TAXES
In December 2017, the U.S. enacted the Tax Cuts and Jobs Act (the “Act”) which makes widespread changes to the Internal Revenue Code. The Act, among other things, reduced the U.S. federal corporate tax rate from 35% to 21%, requires companies to pay a transition tax on earnings of certain foreign subsidiaries that were previously not subject to U.S. tax and creates new income taxes on certain foreign sourced earnings.
The SEC issued Staff Accounting Bulletin No. 118 (SAB 118) which provides guidance on accounting for the tax effects of the Act and allows for adjustments to provisional amounts during a measurement period of up to one year. In accordance with SAB 118, the Company has made reasonable estimates related to (1) the remeasurement of U.S. deferred tax balances for the reduction in the tax rate (2) the liability for the transition tax and (3) the taxes accrued relating to the change in permanent reinvestment assertion for unremitted earnings of certain foreign subsidiaries. As a result, the Company recognized a net provisional income tax benefit of $21.0 million associated with these items in 2017.
The components of the provisional amounts recognized as part of the Act is as follows:
In millions
 
2017
Remeasurement of deferred tax balances
 
$
(300.6
)
Transition tax
 
160.7

Change in permanent reinvestment assertion
 
118.9

Income tax benefit, net
 
$
(21.0
)
The Company is continuing to evaluate how the provisions of the Act will be accounted for under ASC 740, “Income Taxes” (ASC 740). The analysis is provisional and is subject to change due to the additional time required to accurately calculate and review the complex tax law.  The Company will assess any regulatory guidance that may be issued which could have an impact on the provisional estimates.  The Company will continue to gather information and perform additional analysis on these estimates, including, but not limited to, the amount of earnings and profits subject to the transition tax, the calculation of foreign tax credits, the local tax treatment of future distributions of unremitted earnings and in regard to the remeasurement of U.S. deferred taxes, the filing of its 2017 federal and state income tax returns.  Any measurement period adjustments will be reported as a component of Provision for income taxes in the reporting period the amounts are determined. The final accounting will be completed no later than one year from the enactment of the Act. 
Current and deferred provision for income taxes
Earnings before income taxes for the years ended December 31 were taxed within the following jurisdictions:
In millions
 
2017
 
2016
 
2015
United States (1)
 
$
(17.6
)
 
$
419.8

 
$
451.6

Non-U.S.
 
1,435.5

 
1,321.5

 
796.3

Total
 
$
1,417.9

 
$
1,741.3

 
$
1,247.9


(1) Amount reported in 2017 includes the impact of a premium paid of approximately $520 million related to the early retirement of certain intercompany debt obligations
The components of the Provision for income taxes for the years ended December 31 were as follows:
In millions
 
2017
 
2016
 
2015
Current tax expense (benefit):
 
 
 
 
 
 
United States
 
$
102.2

 
$
179.6

 
$
300.1

Non-U.S.
 
95.4

 
135.7

 
132.9

Total:
 
197.6

 
315.3

 
433.0

Deferred tax expense (benefit):
 
 
 
 
 
 
United States
 
(234.7
)
 
(6.7
)
 
69.0

Non-U.S.
 
117.3

 
(27.1
)
 
38.8

Total:
 
(117.4
)
 
(33.8
)
 
107.8

Total tax expense (benefit):
 
 
 
 
 
 
United States
 
(132.5
)
 
172.9

 
369.1

Non-U.S.
 
212.7

 
108.6

 
171.7

Total
 
$
80.2

 
$
281.5

 
$
540.8


The Provision for income taxes differs from the amount of income taxes determined by applying the applicable U.S. statutory income tax rate to pretax income, as a result of the following differences:
 
 
Percent of pretax income
 
 
2017
 
2016
 
2015
Statutory U.S. rate
 
35.0
 %
 
35.0
 %
 
35.0
 %
Increase (decrease) in rates resulting from:
 
 
 
 
 
 
Non-U.S. tax rate differential (a)
 
(28.8
)
 
(14.7
)
 
(17.2
)
Tax on U.S. subsidiaries on non-U.S. earnings
 
0.8

 
0.9

 
1.3

State and local income taxes (b)
 
1.2

 
1.4

 
1.5

Valuation allowances (c)
 
2.8

 
0.1

 
1.7

Change in permanent reinvestment assertion (d), (f)
 
8.4

 
—

 
3.9

Transition tax (f)
 
11.3

 
—

 
—

Remeasurement of deferred tax balances (f)
 
(21.2
)
 
—

 
—

Stock based compensation
 
(1.7
)
 
—

 
—

Reserves for uncertain tax positions
 
(0.9
)
 
0.1

 
14.1

Hussmann gain (e)
 
—

 
(5.7
)
 
—

Provision to return and other true-up adjustments
 
(1.7
)
 
(0.6
)
 
0.7

Other adjustments
 
0.5

 
(0.3
)
 
2.3

Effective tax rate
 
5.7
 %
 
16.2
 %
 
43.3
 %
(a)
Amount reported in 2017 includes the impact of a premium paid of approximately $520 million related to the early retirement of certain intercompany debt obligations
(b)
Net of changes in state valuation allowances
(c)
Primarily federal and non-U.S., excludes state valuation allowances
(d)
Net of foreign tax credits
(e)
Gain from sale of Hussmann equity investment
(f)
Amounts included in 2017 are provisional and relate to the Act

Tax incentives, in the form of tax holidays, have been granted to the Company in certain jurisdictions to encourage industrial development. The expiration of these tax holidays varies by country. The tax holidays are conditional on the Company meeting certain employment and investment thresholds. The most significant tax holidays relate to the Company’s qualifying locations in China, Puerto Rico, Panama and Singapore. The benefit for the tax holidays for the years ended December 31, 2017, 2016 and 2015 was $19.7 million, $23.3 million and $22.6 million, respectively.
IRS Exam Results
In July 2015, the Company entered into an agreement with the U.S. Internal Revenue Service (IRS) to resolve disputes related to withholding and income taxes for years 2002 through 2011 (the IRS Agreement). The IRS had previously disagreed with the Company’s tax treatment of intercompany debt and distributions and asserted the Company owed income and withholding tax relating to the 2002-2006 period totaling $774 million, not including interest and penalties. The Company also provided a substantial amount of information to the IRS in connection with its audit of the 2007-2011 tax periods. The Company expected the IRS to propose similar adjustments to these periods, although it was not known how the IRS would apply its position to the different facts presented in these years or whether the IRS would take a similar position to intercompany debt instruments not outstanding in prior years.

The resolution reached in July 2015 covered intercompany debt and related issues for the entire period from 2002 through 2011 and includes all aspects of the dispute with the U.S. Tax Court, the Appeals Division and the Examination Division of the IRS. The resolution was subsequently reported to the Congressional Joint Committee on Taxation (JCT), as required, for its review. The JCT concluded its review without objection in December 2015 and the settlement was finalized with the IRS in December 2015.
Pursuant to the agreement with the IRS, the Company agreed to pay withholding tax and interest of $412 million in respect to the 2002-2006 years. The Company owed no additional tax with respect to intercompany debt and related matters for the years 2007-2011. No penalties were applied to any of the tax years 2002 through 2011. The resolution resulted in a net cash outflow in 2015 of approximately $364 million, consisting of $230 million in tax and $134 million of interest, net of a tax benefit of $48 million.
Deferred tax assets and liabilities
A summary of the deferred tax accounts at December 31 are as follows:
In millions
 
2017
 
2016
Deferred tax assets:
 
 
 
 
Inventory and accounts receivable
 
$
17.4

 
$
18.2

Fixed assets and intangibles
 
10.4

 
16.2

Postemployment and other benefit liabilities
 
396.5

 
652.5

Product liability
 
95.4

 
151.3

Other reserves and accruals
 
134.8

 
192.8

Net operating losses and credit carryforwards
 
589.0

 
528.5

Other
 
22.7

 
38.6

Gross deferred tax assets
 
1,266.2

 
1,598.1

Less: deferred tax valuation allowances
 
(344.6
)
 
(184.5
)
Deferred tax assets net of valuation allowances
 
$
921.6

 
$
1,413.6

Deferred tax liabilities:
 
 
 
 
Inventory and accounts receivable
 
$
(24.1
)
 
$
(38.8
)
Fixed assets and intangibles
 
(1,237.4
)
 
(1,949.7
)
Postemployment and other benefit liabilities
 
(9.6
)
 
(7.0
)
Other reserves and accruals
 
(1.5
)
 
(1.9
)
Product liability
 
(1.4
)
 
—

Undistributed earnings
 
(137.7
)
 
(24.0
)
Other
 
(11.1
)
 
(8.4
)
Gross deferred tax liabilities
 
(1,422.8
)
 
(2,029.8
)
Net deferred tax assets (liabilities)
 
$
(501.2
)
 
$
(616.2
)

At December 31, 2017, no deferred taxes have been provided for earnings of certain of the Company’s subsidiaries, since these earnings have been, and under current plans will continue to be permanently reinvested in these subsidiaries. These earnings amount to approximately $1.0 billion which if distributed would result in additional taxes, which may be payable upon distribution, of approximately $110.0 million.
At December 31, 2017, the Company had the following operating loss and tax credit carryforwards available to offset taxable income in prior and future years:
In millions
 
Amount
 
Expiration
Period
U.S. Federal net operating loss carryforwards
 
$
680.0

 
2018-2036
U.S. Federal credit carryforwards
 
121.5

 
2022-Unlimited
U.S. State net operating loss carryforwards
 
3,484.2

 
2018-2037
U.S. State credit carryforwards
 
34.7

 
2018-Unlimited
Non-U.S. net operating loss carryforwards
 
752.0

 
2018-Unlimited
Non-U.S. credit carryforwards
 
8.0

 
Unlimited

The U.S. state net operating loss carryforwards were incurred in various jurisdictions. The non-U.S. net operating loss carryforwards were incurred in various jurisdictions, predominantly in Belgium, Brazil, China, India, Luxembourg, Spain, and the United Kingdom.
Activity associated with the Company’s valuation allowance is as follows:
In millions
 
2017
 
2016
 
2015
Beginning balance
 
$
184.5

 
$
213.1

 
$
210.7

Increase to valuation allowance
 
176.5

 
19.4

 
40.7

Decrease to valuation allowance
 
(19.1
)
 
(43.5
)
 
(34.0
)
Accumulated other comprehensive income (loss)
 
2.7

 
(4.5
)
 
(4.3
)
Ending balance
 
$
344.6

 
$
184.5

 
$
213.1


During 2017, the Company recorded a valuation allowance of approximately $30 million on certain net deferred tax assets in Brazil that were no longer expected to be realized. In addition, the Company recorded a valuation allowance of approximately $100 million related to excess foreign tax credits generated as a result of the Act.
Unrecognized tax benefits
The Company has total unrecognized tax benefits of $120.5 million and $107.1 million as of December 31, 2017, and December 31, 2016, respectively. The amount of unrecognized tax benefits that, if recognized, would affect the continuing operations effective tax rate are $80.4 million as of December 31, 2017. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
In millions
 
2017
 
2016
 
2015
Beginning balance
 
$
107.1

 
$
174.9

 
$
343.8

Additions based on tax positions related to the current year
 
6.2

 
5.9

 
8.7

Additions based on tax positions related to prior years
 
16.8

 
29.1

 
186.5

Reductions based on tax positions related to prior years
 
(8.6
)
 
(37.6
)
 
(102.2
)
Reductions related to settlements with tax authorities
 
(4.8
)
 
(60.9
)
 
(251.0
)
Reductions related to lapses of statute of limitations
 
(1.3
)
 
(2.8
)
 
(3.7
)
Translation (gain) loss
 
5.1

 
(1.5
)
 
(7.2
)
Ending balance
 
$
120.5

 
$
107.1

 
$
174.9


The Company records interest and penalties associated with the uncertain tax positions within its Provision for income taxes. The Company had reserves associated with interest and penalties, net of tax, of $32.5 million and $33.7 million at December 31, 2017 and December 31, 2016, respectively. For the year ended December 31, 2017 and December 31, 2016, the Company recognized $1.9 million and $2.3 million, respectively, in interest and penalties net of tax in continuing operations related to these uncertain tax positions.
In the second quarter of 2015, the Company recorded a tax charge of approximately $227 million to continuing operations related to the increase in the liability for unrecognized tax benefits as a result of the proposed IRS settlement. Pursuant to the agreement with the IRS, the Company reduced its liability for unrecognized tax benefits for all related amounts at December 31, 2015. In addition, the Company recorded a tax benefit of approximately $65 million within continuing operations as a result of the settlement of an audit in a major tax jurisdiction.
The total amount of unrecognized tax benefits relating to the Company's tax positions is subject to change based on future events including, but not limited to, the settlements of ongoing audits and/or the expiration of applicable statutes of limitations. Although the outcomes and timing of such events are highly uncertain, it is reasonably possible that the balance of gross unrecognized tax benefits, excluding interest and penalties, could potentially be reduced by up to approximately $1.0 million during the next 12 months.
The provision for income taxes involves a significant amount of management judgment regarding interpretation of relevant facts and laws in the jurisdictions in which the Company operates. Future changes in applicable laws, projected levels of taxable income and tax planning could change the effective tax rate and tax balances recorded by the Company. In addition, tax authorities periodically review income tax returns filed by the Company and can raise issues regarding its filing positions, timing and amount of income or deductions, and the allocation of income among the jurisdictions in which the Company operates. A significant period of time may elapse between the filing of an income tax return and the ultimate resolution of an issue raised by a revenue authority with respect to that return. In the normal course of business the Company is subject to examination by taxing authorities throughout the world, including such major jurisdictions as Brazil, Canada, China, France, Germany, Ireland, Italy, Mexico, Spain, the Netherlands, the United Kingdom and the United States. These examinations on their own, or any subsequent litigation related to the examinations, may result in additional taxes or penalties against the Company. If the ultimate result of these audits differ from original or adjusted estimates, they could have a material impact on the Company’s tax provision. In general, the examination of the Company’s material tax returns are complete or effectively settled for the years prior to 2008, with certain matters prior to 2008 being resolved through appeals and litigation and also unilateral procedures as provided for under double tax treaties.
Acquisitions and Divestitures
Acquisitions and Discontinued Operations
ACQUISITIONS AND DIVESTITURES
Acquisitions
During 2017, the Company acquired several businesses, including channel acquisitions, that complement existing products and services. The aggregate cash paid, net of cash acquired, totaled $157.6 million and was funded through cash on hand. These acquisitions were recorded using the acquisition method of accounting in accordance with the accounting guidance for business acquisitions. As a result, the aggregate price has been allocated to assets acquired and liabilities assumed based on the estimate of fair market value of such assets and liabilities at the date of acquisition.
The allocation of the aggregate purchase price is as follows:
In millions
 
Climate
 
Industrial
 
Total
Other current assets
 
$
19.2

 
$
17.0

 
$
36.2

Intangibles
 
26.0

 
35.6

 
61.6

Goodwill
 
26.3

 
60.5

 
86.8

Other noncurrent assets
 
6.4

 
5.9

 
12.3

Accounts payable, accrued expenses and other liabilities
 
(20.0
)
 
(19.3
)
 
(39.3
)
Total purchase price, net of cash acquired
 
$
57.9

 
$
99.7

 
$
157.6

Cash, accounts receivable and current liabilities were stated at their historical carrying values, which approximates fair value given the short nature of these assets and liabilities. The estimate of fair value for inventory and property, plant and equipment are based on an assessment of the acquired assets condition as well as an evaluation of the current market value for such assets. Intangible assets associated with these acquisitions primarily relate to technology, trademarks and/or customer relationships. The valuations were primarily determined using an income approach methodology. Any excess of the purchase price is recognized as goodwill. The Company is in the process of allocating the purchase price and valuing the acquired assets and liabilities assumed for certain of these acquisitions.
Engineered Centrifugal Compression Business
On January 1, 2015, the Company completed the acquisition of the assets of Cameron International Corporation’s Centrifugal Compression (Engineered Centrifugal Compression) business for approximately $850 million. The acquired business manufactures centrifugal compression equipment and provides aftermarket parts and services for global industrial applications, air separation, gas transmission and process gas. The acquisition was funded through a combination of cash on hand and debt.
The results of the Engineered Centrifugal Compression business have been included in the Company's consolidated financial statements since the date of the acquisition and are reported within the Company's Industrial segment. The aggregate value, net of cash acquired, was allocated to tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values at the acquisition date. The excess of the purchase price over the estimated fair values of identifiable assets acquired was recorded as goodwill and equal to $431 million. Intangible assets were identified and recorded at their estimated fair value of $272 million and primarily consisted of customer relationships, completed technologies/patents and indefinite-lived trademarks.
FRIGOBLOCK
On March 4, 2015, the Company acquired 100% of the outstanding stock of FRIGOBLOCK for approximately €100 million (approximately $113 million). The acquired business manufactures and designs transport refrigeration units for trucks and trailers, which it sells primarily in Western Europe. The acquisition was funded through a combination of cash on hand and debt.
The results of the FRIGOBLOCK business have been included in the Company's consolidated financial statements as of the date of acquisition and reported within the Company's Climate segment. The aggregate value, net of cash acquired, was allocated to tangible and identifiable intangible assets acquired and liabilities assumed based on their estimated fair values at the acquisition date. The excess of the purchase price over the estimated fair values of identifiable assets acquired was recorded as goodwill and equal to $64.3 million. Intangible assets were identified and recorded at their estimated fair value of $43.9 million, and primarily consisted of customer relationships, completed technologies/patents and an indefinite-lived trademark.
Divestitures
The Company has retained costs from previously sold businesses that primarily include expenses related to postretirement benefits, product liability and legal costs (mostly asbestos related). In addition, the Company includes amounts related to the 2013 spin-off of our commercial and residential security business, now an independent public company operating under the name of Allegion plc (Allegion). The components of Discontinued operations, net of tax for the years ended December 31 are as follows:
In millions
 
2017
 
2016
 
2015
Pre-tax earnings (loss) from discontinued operations
 
$
(34.0
)
 
$
28.1

 
$
(23.2
)
Tax benefit (expense)
 
8.6

 
4.8

 
(1.1
)
Discontinued operations, net of tax
 
$
(25.4
)
 
$
32.9

 
$
(24.3
)

Pre-tax earnings (loss) from discontinued operations includes costs associated with Ingersoll Rand Company for the settlement and defense of asbestos-related claims, insurance settlements on asbestos-related matters and the revaluation of its liability for potential future claims. Refer to Note 19, "Commitments and Contingencies," for more information related to asbestos. A portion of the tax benefit (expense) in each period represent adjustments for certain tax matters associated with Allegion.
Earnings Per Share (EPS)
Earnings Per Share (EPS)
EARNINGS PER SHARE (EPS)
Basic EPS is calculated by dividing Net earnings attributable to Ingersoll-Rand plc 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 earnings per share calculations:
In millions
 
2017
 
2016
 
2015
Weighted-average number of basic shares outstanding
 
254.9

 
259.2

 
265.1

Shares issuable under incentive stock plans
 
3.2

 
2.5

 
2.7

Weighted-average number of diluted shares outstanding
 
258.1

 
261.7

 
267.8

Anti-dilutive shares
 
1.6

 
1.2

 
2.1

Commitments and Contingencies
Commitments and Contingencies
COMMITMENTS AND CONTINGENCIES
The Company is involved in various litigations, claims and administrative proceedings, including those related to environmental, asbestos, and product liability matters. In accordance with ASC 450, "Contingencies," the Company records accruals for loss contingencies when it is both probable that a liability will be incurred and the amount of the loss can be reasonably estimated. 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
The Company continues to be dedicated to environmental and sustainability programs to minimize the use of natural resources, and reduce the utilization and generation of hazardous materials from our manufacturing processes and to remediate identified environmental concerns. As to the latter, the Company is currently engaged in site investigations and remediation activities to address environmental cleanup from past operations at current and former manufacturing facilities.
The Company is sometimes a party to environmental lawsuits and claims and has received notices of potential violations of environmental laws and regulations from the Environmental Protection Agency and similar state authorities. It has also been identified as a potentially responsible party (PRP) for cleanup costs associated with off-site waste disposal at federal Superfund and state remediation sites. For all such sites, there are other PRPs and, in most instances, the Company’s involvement is minimal.
In estimating its liability, the Company has assumed it will not bear the entire cost of remediation of any site to the exclusion of other PRPs who may be jointly and severally liable. The ability of other PRPs to participate has been taken into account, based on the Company's understanding of the parties’ financial condition and probable contributions on a per site basis. Additional lawsuits and claims involving environmental matters are likely to arise from time to time in the future.
As of December 31, 2017 and 2016, the Company has recorded reserves for environmental matters of $41.9 million and $41.3 million, respectively. Of these amounts $36.8 million and $37.2 million, respectively, relate to remediation of sites previously disposed by the Company.
Asbestos-Related Matters
Certain wholly-owned subsidiaries and former companies of ours are named as defendants in asbestos-related lawsuits in state and federal courts. In virtually all of the suits, a large number of other companies have also been named as defendants. The vast majority of those claims have been filed against either Ingersoll-Rand Company or Trane U.S. Inc. (Trane) and generally allege injury caused by exposure to asbestos contained in certain historical products sold by Ingersoll-Rand Company or Trane, primarily pumps, boilers and railroad brake shoes. None of our existing or previously-owned businesses were a producer or manufacturer of asbestos.
The Company engages an outside expert to assist in calculating an estimate of the Company’s total liability for pending and unasserted future asbestos-related claims and annually performs a detailed analysis with the assistance of an outside expert to update its estimated asbestos-related liability. The methodology used to project the Company’s total liability for pending and unasserted potential future asbestos-related claims relied upon and included the following factors, among others:
•
the outside expert’s interpretation of a widely accepted forecast of the population likely to have been occupationally exposed to asbestos;
•
epidemiological studies estimating the number of people likely to develop asbestos-related diseases such as mesothelioma and lung cancer;
•
the Company’s historical experience with the filing of non-malignancy claims and claims alleging other types of malignant diseases filed against the Company relative to the number of lung cancer claims filed against the Company;
•
the outside expert’s analysis of the number of people likely to file an asbestos-related personal injury claim against the Company based on such epidemiological and historical data and the Company’s most recent three-year claims history;
•
an analysis of the Company’s pending cases, by type of disease claimed and by year filed;
•
an analysis of the Company’s most recent three-year history to determine the average settlement and resolution value of claims, by type of disease claimed;
•
an adjustment for inflation in the future average settlement value of claims, at a 2.5% annual inflation rate, adjusted downward to 1.5% to take account of the declining value of claims resulting from the aging of the claimant population; and
•
an analysis of the period over which the Company has and is likely to resolve asbestos-related claims against it in the future.
At December 31, 2017, over 80 percent of the open claims against the Company are non-malignancy or unspecified disease claims, many of which have been placed on inactive or deferral dockets and the vast majority of which have little or no settlement value against the Company, particularly in light of recent changes in the legal and judicial treatment of such claims.
The Company’s liability for asbestos-related matters and the asset for probable asbestos-related insurance recoveries are included in the following balance sheet accounts:
In millions
December 31,
2017
 
December 31,
2016
Accrued expenses and other current liabilities
$
48.2

 
$
61.5

Other noncurrent liabilities
556.6

 
569.7

Total asbestos-related liabilities
$
604.8

 
$
631.2

 
 
 
 
Other current assets
$
56.1

 
$
54.0

Other noncurrent assets
210.3

 
218.5

Total asset for probable asbestos-related insurance recoveries
$
266.4

 
$
272.5


The Company's asbestos insurance receivable related to Ingersoll-Rand Company and Trane was $138.5 million and $127.9 million at December 31, 2017, and $129.6 million and $142.9 million at December 31, 2016, respectively. The receivable attributable to Trane for probable insurance recoveries as of December 31, 2017 is entirely supported by settlement agreements between Trane and the respective insurance carriers. Most of these settlement agreements constitute “coverage-in-place” arrangements, in which the insurer signatories agree to reimburse Trane for specified portions of its costs for asbestos bodily injury claims and Trane agrees to certain claims-handling protocols and grants to the insurer signatories certain releases and indemnifications.
The costs associated with the settlement and defense of asbestos-related claims, insurance settlements on asbestos-related matters and the revaluation of the Company's liability for potential future claims are included in the income statement within continuing operations or discontinued operations depending on the business to which they relate. The income (expense) associated with these transactions for the years ended December 31, were as follows:
In millions
 
2017
 
2016
 
2015
Continuing operations
 
$
(3.1
)
 
$
2.7

 
$
21.0

Discontinued operations
 
(11.9
)
 
46.3

 
(8.8
)
Total
 
$
(15.0
)
 
$
49.0

 
$
12.2


Ongoing income and expenses associated with Ingersoll-Rand Company's asbestos-related matters are recorded within discontinued operations as they relate to previously divested businesses, primarily Ingersoll-Dresser Pump, which was sold by the Company in 2000. During the year ended December 31, 2017, the Company recorded an adjustment to update its liability for potential future claims. This amount was partially offset by asbestos-related settlements reached with various insurance carriers during the year. Amounts recorded during the year ended December 31, 2016 and 2015 include asbestos-related settlements with various insurance carriers. Ongoing income and expenses associated with Trane’s asbestos-related matters are recorded within Other income/(expense), net as part of continuing operations. Amounts recorded during 2015 include a settlement with an insurance carrier.
In 2012 and 2013, Ingersoll-Rand Company filed actions in the Superior Court of New Jersey, Middlesex County, seeking a declaratory judgment and other relief regarding the Company's rights to defense and indemnity for asbestos claims. The defendants were several dozen solvent insurance companies, including companies that had been paying a portion of Ingersoll-Rand Company's asbestos claim defense and indemnity costs. The responding defendants generally challenged the Company's right to recovery, and raised various coverage defenses. Since filing the actions, Ingersoll Rand Company has settled with approximately two-thirds of the insurer defendants, and has dismissed one of the actions in its entirety.
The Company continually monitors the status of pending litigation that could impact the allocation of asbestos claims against the Company's various insurance policies. The Company has concluded that its Ingersoll-Rand Company insurance receivable is probable of recovery because of the following factors:
•
Ingersoll-Rand Company has reached favorable settlements regarding asbestos coverage claims for the majority of its recorded asbestos-related insurance receivable;
•
a review of other companies in circumstances comparable to Ingersoll-Rand Company, including Trane, and the success of other companies in recovering under their insurance policies, including Trane's favorable settlement discussed above;
•
the Company's confidence in its right to recovery under the terms of its policies and pursuant to applicable law; and
•
the Company's history of receiving payments under the Ingersoll-Rand Company insurance program, including under policies that had been the subject of prior litigation.
The amounts recorded by the Company for asbestos-related liabilities and insurance-related assets are based on currently available information. The Company’s actual liabilities or insurance recoveries could be significantly higher or lower than those recorded if assumptions used in the calculations vary significantly from actual results. Key variables in these assumptions include the number and type of new claims to be filed each year, the average cost of resolution of each such new claim, the resolution of coverage issues with insurance carriers, and the solvency risk with respect to the Company’s insurance carriers. Furthermore, predictions with respect to these variables are subject to greater uncertainty as the projection period lengthens. Other factors that may affect the Company’s liability include uncertainties surrounding the litigation process from jurisdiction to jurisdiction and from case to case, reforms that may be made by state and federal courts, and the passage of state or federal tort reform legislation.
The aggregate amount of the stated limits in insurance policies available to the Company for asbestos-related claims acquired, over many years and from many different carriers, is substantial. However, limitations in that coverage, primarily due to the considerations described above, are expected to result in the projected total liability to claimants substantially exceeding the probable insurance recovery.
Warranty Liability
Standard product warranty accruals are recorded at the time of sale and are estimated based upon product warranty terms and historical experience. The Company assesses the adequacy of its liabilities and will make adjustments as necessary based on known or anticipated warranty claims, or as new information becomes available.
The changes in the standard product warranty liability for the year ended December 31, were as follows:
In millions
2017
 
2016
Balance at beginning of period
$
261.6

 
$
262.0

Reductions for payments
(140.5
)
 
(142.3
)
Accruals for warranties issued during the current period
141.9

 
141.4

Changes to accruals related to preexisting warranties
2.2

 
2.5

Translation
5.3

 
(2.0
)
Balance at end of period
$
270.5

 
$
261.6


Standard product warranty liabilities are classified as Accrued expenses and other current liabilities, or Other noncurrent liabilities based on their expected term. The Company's total current standard product warranty reserve at December 31, 2017 and December 31, 2016 was $144.5 million and $148.7 million, respectively.
The Company's extended warranty liability represents the deferred revenue associated with its extended warranty contracts and is amortized into Net revenues on a straight-line basis over the life of the contract, unless another method is more representative of the costs incurred. The Company assesses the adequacy of its liability by evaluating the expected costs under its existing contracts to ensure these expected costs do not exceed the extended warranty liability.
The changes in the extended warranty liability for the year ended December 31, were as follows:
In millions
2017
 
2016
Balance at beginning of period
$
295.9

 
$
311.6

Amortization of deferred revenue for the period
(107.2
)
 
(111.0
)
Additions for extended warranties issued during the period
100.8

 
97.3

Changes to accruals related to preexisting warranties
1.3

 
(1.7
)
Translation
2.2

 
(0.3
)
Balance at end of period
$
293.0

 
$
295.9


The extended warranty liability is classified as Accrued expenses and other current liabilities or Other noncurrent liabilities based on the timing of when the deferred revenue is expected to be amortized into Net revenues. The Company's total current extended warranty liability at December 31, 2017 and December 31, 2016 was $100.0 million and $96.5 million, respectively. For the years ended December 31, 2017 and 2016, the Company incurred costs of $60.7 million and $60.1 million, respectively, related to extended warranties.
Other Commitments and Contingencies
Certain office and warehouse facilities, transportation vehicles and data processing equipment are leased by the Company. Total rental expense was $241.8 million in 2017, $230.4 million in 2016 and $166.7 million in 2015. Minimum lease payments required under non-cancelable operating leases with terms in excess of one year for the next five years are as follows: $194.3 million in 2018, $143.4 million in 2019, $112.0 million in 2020, $76.2 million in 2021, and $49.6 million in 2022.
Trane has commitments and performance guarantees, including energy savings guarantees, totaling approximately $400 million extending from 2018-2037. These guarantees are provided under long-term service and maintenance contracts related to its air conditioning equipment and system controls. Through 2017, the Company has experienced no significant losses under such arrangements and considers the probability of any significant future losses to be remote.
Business Segment Information
Business Segment Information
BUSINESS SEGMENT INFORMATION
The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies except that the operating segments’ results are prepared on a management basis that is consistent with the manner in which the Company prepares financial information for internal review and decision making. The Company largely evaluates performance based on Segment operating income and Segment operating margins. Intercompany sales between segments are considered immaterial.
The Company's Climate segment delivers energy-efficient products and innovative energy services. It includes Trane® and American Standard® Heating & Air Conditioning which provide heating, ventilation and air conditioning (HVAC) systems, and commercial and residential building services, parts, support and controls; energy services and building automation through Trane Building Advantage and Nexia; and Thermo King® transport temperature control solutions.
The Company's Industrial segment delivers products and services that enhance energy efficiency, productivity and operations. It includes compressed air and gas systems and services, power tools, material handling systems, ARO® fluid management equipment, as well as Club Car ® golf, utility and rough terrain vehicles.
Segment operating income is the measure of profit and loss that the Company's chief operating decision maker uses to evaluate the financial performance of the business and as the basis for performance reviews, compensation and resource allocation. For these reasons, the Company believes that Segment operating income represents the most relevant measure of segment profit and loss.
A summary of operations by reportable segments for the years ended December 31 were as follows:
Dollar amounts in millions
 
2017
 
2016
 
2015
Climate
 
 
 
 
 
 
Net revenues
 
$
11,167.5

 
$
10,545.0

 
$
10,224.3

Segment operating income
 
1,572.7

 
1,537.5

 
1,314.4

Segment operating income as a percentage of revenues
 
14.1
%
 
14.6
%
 
12.9
%
Depreciation and amortization
 
247.6

 
225.2

 
246.3

Capital expenditures
 
103.8

 
78.2

 
83.9

Industrial
 
 
 
 
 
 
Net revenues
 
3,030.1

 
2,963.9

 
3,076.4

Segment operating income
 
357.6

 
300.3

 
378.3

Segment operating income as a percentage of revenues
 
11.8
%
 
10.1
%
 
12.3
%
Depreciation and amortization
 
77.3

 
67.2

 
67.5

Capital expenditures
 
57.4

 
36.3

 
51.8

 
 
 
 
 
 
 
Total net revenues
 
$
14,197.6

 
$
13,508.9

 
$
13,300.7

 
 
 
 
 
 
 
Reconciliation to Operating Income
 
 
 
 
 
 
Segment operating income from reportable segments
 
1,930.3

 
1,837.8

 
1,692.7

Unallocated corporate expense
 
(265.0
)
 
(234.6
)
 
(201.0
)
Total operating income
 
$
1,665.3

 
$
1,603.2

 
$
1,491.7

Total operating income as a percentage of revenues
 
11.7
%
 
11.9
%
 
11.2
%
Depreciation and Amortization
 
 
 
 
 
 
Depreciation and amortization from reportable segments
 
324.9

 
292.4

 
313.8

Unallocated depreciation and amortization
 
28.4

 
59.8

 
50.3

Total depreciation and amortization
 
$
353.3


$
352.2


$
364.1

Capital Expenditures
 
 
 
 
 
 
Capital expenditures from reportable segments
 
161.2

 
114.5

 
135.7

Corporate capital expenditures
 
60.1

 
68.2

 
113.9

Total capital expenditures
 
$
221.3

 
$
182.7

 
$
249.6


A summary of Net revenues by destination and by major product/solution for the years ended December 31 were as follows:
In millions
 
2017
 
2016
 
2015
United States
 
$
9,215.3

 
$
8,720.7

 
$
8,291.2

Non-U.S.
 
4,982.3

 
4,788.2

 
5,009.5

Total
 
$
14,197.6

 
$
13,508.9

 
$
13,300.7


In millions
 
2017
 
2016
 
2015
Commercial HVAC
 
$
6,849.4

 
$
6,479.4

 
$
6,233.8

Transport Refrigeration
 
2,090.7

 
2,050.1

 
2,147.8

Residential HVAC
 
2,227.4

 
2,015.5

 
1,842.6

Compression Technologies and Services
 
1,889.2

 
1,885.1

 
1,932.5

Other Industrial
 
1,140.9

 
1,078.8

 
1,144.0

Total
 
$
14,197.6

 
$
13,508.9

 
$
13,300.7


In fiscal years 2017, 2016 and 2015, no customer exceeded 10% of consolidated net revenues.
At December 31, summary of long-lived assets by geographic area were as follows:
In millions
 
2017

2016
United States
 
$
984.8

 
$
2,040.7

Non-U.S.
 
1,651.8

 
603.1

Total
 
$
2,636.6

 
$
2,643.8

BUSINESS SEGMENT INFORMATION
The accounting policies of the operating segments are the same as those described in the summary of significant accounting policies except that the operating segments’ results are prepared on a management basis that is consistent with the manner in which the Company prepares financial information for internal review and decision making. The Company largely evaluates performance based on Segment operating income and Segment operating margins. Intercompany sales between segments are considered immaterial.
The Company's Climate segment delivers energy-efficient products and innovative energy services. It includes Trane® and American Standard® Heating & Air Conditioning which provide heating, ventilation and air conditioning (HVAC) systems, and commercial and residential building services, parts, support and controls; energy services and building automation through Trane Building Advantage and Nexia; and Thermo King® transport temperature control solutions.
The Company's Industrial segment delivers products and services that enhance energy efficiency, productivity and operations. It includes compressed air and gas systems and services, power tools, material handling systems, ARO® fluid management equipment, as well as Club Car ® golf, utility and rough terrain vehicles.
Segment operating income is the measure of profit and loss that the Company's chief operating decision maker uses to evaluate the financial performance of the business and as the basis for performance reviews, compensation and resource allocation. For these reasons, the Company believes that Segment operating income represents the most relevant measure of segment profit and loss.
A summary of operations by reportable segments for the years ended December 31 were as follows:
Dollar amounts in millions
 
2017
 
2016
 
2015
Climate
 
 
 
 
 
 
Net revenues
 
$
11,167.5

 
$
10,545.0

 
$
10,224.3

Segment operating income
 
1,572.7

 
1,537.5

 
1,314.4

Segment operating income as a percentage of revenues
 
14.1
%
 
14.6
%
 
12.9
%
Depreciation and amortization
 
247.6

 
225.2

 
246.3

Capital expenditures
 
103.8

 
78.2

 
83.9

Industrial
 
 
 
 
 
 
Net revenues
 
3,030.1

 
2,963.9

 
3,076.4

Segment operating income
 
357.6

 
300.3

 
378.3

Segment operating income as a percentage of revenues
 
11.8
%
 
10.1
%
 
12.3
%
Depreciation and amortization
 
77.3

 
67.2

 
67.5

Capital expenditures
 
57.4

 
36.3

 
51.8

 
 
 
 
 
 
 
Total net revenues
 
$
14,197.6

 
$
13,508.9

 
$
13,300.7

 
 
 
 
 
 
 
Reconciliation to Operating Income
 
 
 
 
 
 
Segment operating income from reportable segments
 
1,930.3

 
1,837.8

 
1,692.7

Unallocated corporate expense
 
(265.0
)
 
(234.6
)
 
(201.0
)
Total operating income
 
$
1,665.3

 
$
1,603.2

 
$
1,491.7

Total operating income as a percentage of revenues
 
11.7
%
 
11.9
%
 
11.2
%
Depreciation and Amortization
 
 
 
 
 
 
Depreciation and amortization from reportable segments
 
324.9

 
292.4

 
313.8

Unallocated depreciation and amortization
 
28.4

 
59.8

 
50.3

Total depreciation and amortization
 
$
353.3


$
352.2


$
364.1

Capital Expenditures
 
 
 
 
 
 
Capital expenditures from reportable segments
 
161.2

 
114.5

 
135.7

Corporate capital expenditures
 
60.1

 
68.2

 
113.9

Total capital expenditures
 
$
221.3

 
$
182.7

 
$
249.6


A summary of Net revenues by destination and by major product/solution for the years ended December 31 were as follows:
In millions
 
2017
 
2016
 
2015
United States
 
$
9,215.3

 
$
8,720.7

 
$
8,291.2

Non-U.S.
 
4,982.3

 
4,788.2

 
5,009.5

Total
 
$
14,197.6

 
$
13,508.9

 
$
13,300.7


In millions
 
2017
 
2016
 
2015
Commercial HVAC
 
$
6,849.4

 
$
6,479.4

 
$
6,233.8

Transport Refrigeration
 
2,090.7

 
2,050.1

 
2,147.8

Residential HVAC
 
2,227.4

 
2,015.5

 
1,842.6

Compression Technologies and Services
 
1,889.2

 
1,885.1

 
1,932.5

Other Industrial
 
1,140.9

 
1,078.8

 
1,144.0

Total
 
$
14,197.6

 
$
13,508.9

 
$
13,300.7


In fiscal years 2017, 2016 and 2015, no customer exceeded 10% of consolidated net revenues.
At December 31, summary of long-lived assets by geographic area were as follows:
In millions
 
2017

2016
United States
 
$
984.8

 
$
2,040.7

Non-U.S.
 
1,651.8

 
603.1

Total
 
$
2,636.6

 
$
2,643.8

Guarantor Financial Information
Condensed Financial Information of Parent Company Only Disclosure [Text Block]
GUARANTOR FINANCIAL INFORMATION
Ingersoll-Rand plc (Plc or Parent Company) and certain of its 100% directly or indirectly owned subsidiaries provide guarantees of public debt issued by other 100% directly or indirectly owned subsidiaries. The following condensed consolidating financial information is provided so that separate financial statements of these subsidiary issuer and guarantors are not required to be filed with the U.S. Securities and Exchange Commission.
The following table shows the Company’s guarantor relationships as of December 31, 2017:
Parent, issuer or guarantors
Notes issued
Notes guaranteed (3)
Ingersoll-Rand plc (Plc)
None
All registered notes and debentures
Ingersoll-Rand Irish Holdings Unlimited Company (Irish Holdings)
None
All notes issued by Global Holding and Lux Finance (4)
Ingersoll-Rand Lux International Holding Company S.a.r.l. (Lux International)
None
All notes issued by Global Holding and Lux Finance (1)
Ingersoll-Rand Global Holding Company Limited (Global Holding)
6.875% Senior notes due 2018(2)
2.875% Senior notes due 2019(2)
4.250% Senior notes due 2023(2)
5.750% Senior notes due 2043(2)
All notes issued by Lux Finance
Ingersoll-Rand Company (New Jersey)
9.000% Debentures due 2021
7.200% Debentures due 2018-2025
6.48% Debentures due 2025
Puttable debentures due 2027-2028
All notes issued by Global Holding and Lux Finance
Ingersoll-Rand Luxembourg Finance S.A. (Lux Finance)
2.625% Notes due 2020
3.55% Notes due 2024
4.650% Notes due 2044
All notes and debentures issued by Global Holding and New Jersey
(1) In the fourth quarter of 2015, Lux International was added as a guarantor of notes previously issued by Global Holding and Lux Finance
(2) In 2013, New Jersey was added as a co-obligor of notes previously issued by Global Holding
(3) All subsidiary issuers and guarantors provide irrevocable guarantees of borrowings, if any, made under revolving credit facilities
(4) In the second quarter of 2016, Irish Holdings was added as a guarantor of all notes issued by Global Holding and Lux Finance
Each subsidiary debt issuer and guarantor is owned 100% directly or indirectly by the Parent Company. Each guarantee is full and unconditional, and provided on a joint and several basis. There are no significant restrictions of the Parent Company, or any guarantor, to obtain funds from its subsidiaries, such as provisions in debt agreements that prohibit dividend payments, loans or advances to the parent by a subsidiary.
Basis of presentation
The following Condensed Consolidating Financial Statements present the financial position, results of operations and cash flows of each issuer or guarantor on a legal entity basis. The financial information for all periods has been presented based on the Company’s legal entity ownerships and guarantees outstanding at December 31, 2017. Assets and liabilities are attributed to each issuer and guarantor generally based on legal entity ownership. Investments in subsidiaries of the Parent Company, subsidiary guarantors and issuers represent the proportionate share of their subsidiaries’ net assets. Certain adjustments are needed to consolidate the Parent Company and its subsidiaries, including the elimination of investments in subsidiaries and related activity that occurs between entities in different columns. These adjustments are presented in the Consolidating Adjustments column. This basis of presentation is intended to comply with the specific reporting requirements for subsidiary issuers and guarantors, and is not intended to present the Company’s financial position or results of operations or cash flows for any other purpose.
Condensed Consolidating Statement of Comprehensive Income
For the year ended December 31, 2017

In millions
Plc
 
Irish Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
Net revenues
$
—

 
$
—

 
$
—

 
$
—

 
$
1,336.6

 
$
—

 
$
13,216.7

 
$
(355.7
)
 
$
14,197.6

Cost of goods sold
—

 
—

 
—

 
—

 
(957.9
)
 
—

 
(9,209.4
)
 
355.7

 
(9,811.6
)
Selling and administrative expenses
(15.6
)
 
—

 
(0.1
)
 
(1.2
)
 
(401.7
)
 
(0.2
)
 
(2,301.9
)
 
—

 
(2,720.7
)
Operating income (loss)
(15.6
)

—


(0.1
)

(1.2
)

(23.0
)

(0.2
)

1,705.4


—


1,665.3

Equity earnings (loss) in subsidiaries, net of tax
1,349.2

 
1,334.7

 
982.3

 
565.3

 
1,212.5

 
107.9

 
—

 
(5,551.9
)
 
—

Interest expense
—

 
—

 
—

 
(127.0
)
 
(47.2
)
 
(41.0
)
 
(0.6
)
 
—

 
(215.8
)
Intercompany interest and fees
(33.1
)
 
—

 
253.0

 
(493.9
)
 
(500.9
)
 
(8.2
)
 
783.1

 
—

 
—

Other income/(expense), net
—

 
—

 
0.1

 
—

 
(5.8
)
 
—

 
(25.9
)
 
—

 
(31.6
)
Earnings (loss) before income taxes
1,300.5


1,334.7


1,235.3


(56.8
)

635.6


58.5


2,462.0


(5,551.9
)

1,417.9

Benefit (provision) for income taxes
2.1

 
—

 
—

 
247.2

 
(42.4
)
 
—

 
(287.1
)
 
—

 
(80.2
)
Earnings (loss) from continuing operations
1,302.6


1,334.7


1,235.3


190.4


593.2


58.5


2,174.9


(5,551.9
)

1,337.7

Gain (loss) from discontinued operations, net of tax
—

 
—

 
—

 
—

 
(27.9
)
 
—

 
2.5

 
—

 
(25.4
)
Net earnings (loss)
1,302.6


1,334.7


1,235.3


190.4


565.3


58.5


2,177.4


(5,551.9
)

1,312.3

Less: Net earnings attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(9.7
)
 
—

 
(9.7
)
Net earnings attributable to Ingersoll-Rand plc
$
1,302.6


$
1,334.7


$
1,235.3


$
190.4


$
565.3


$
58.5


$
2,167.7


$
(5,551.9
)

$
1,302.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
511.7

 
510.3

 
472.5

 
369.3

 
368.8

 
102.1

 
499.0

 
(2,322.0
)
 
511.7

Comprehensive income attributable to Ingersoll-Rand plc
$
1,814.3

 
$
1,845.0

 
$
1,707.8

 
$
559.7

 
$
934.1

 
$
160.6

 
$
2,666.7

 
$
(7,873.9
)
 
$
1,814.3

Condensed Consolidating Statement of Comprehensive Income
For the year ended December 31, 2016

In millions
Plc
 
Irish Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
Net revenues
$
—

 
$
—

 
$
—

 
$
—

 
$
1,327.2

 
$
—

 
$
12,533.9

 
$
(352.2
)
 
$
13,508.9

Cost of goods sold
—

 
—

 
—

 
—

 
(982.2
)
 
—

 
(8,677.9
)
 
352.2

 
(9,307.9
)
Selling and administrative expenses
(16.9
)
 
—

 
(0.2
)
 
(0.1
)
 
(352.5
)
 
(0.5
)
 
(2,227.6
)
 
—

 
(2,597.8
)
Operating income (loss)
(16.9
)

—


(0.2
)

(0.1
)

(7.5
)

(0.5
)

1,628.4


—


1,603.2

Equity earnings (loss) in subsidiaries, net of tax
1,559.7

 
1,544.0

 
1,463.4

 
609.4

 
808.7

 
1,521.1

 
—

 
(7,506.3
)
 
—

Interest expense
—

 
—

 
—

 
(127.0
)
 
(47.9
)
 
(42.6
)
 
(4.0
)
 
—

 
(221.5
)
Intercompany interest and fees
(69.2
)
 
—

 
(46.4
)
 
(164.5
)
 
(277.2
)
 
(6.8
)
 
564.1

 
—

 
—

Other income/(expense), net
0.9

 
—

 
—

 
—

 
(13.8
)
 
—

 
372.5

 
—

 
359.6

Earnings (loss) before income taxes
1,474.5


1,544.0


1,416.8


317.8


462.3


1,471.2


2,561.0


(7,506.3
)

1,741.3

Benefit (provision) for income taxes
1.7

 
—

 
3.0

 
115.6

 
117.3

 
—

 
(519.1
)
 
—

 
(281.5
)
Earnings (loss) from continuing operations
1,476.2


1,544.0


1,419.8


433.4


579.6


1,471.2


2,041.9


(7,506.3
)

1,459.8

Gain (loss) from discontinued operations, net of tax
—

 
—

 
—

 
—

 
30.4

 
—

 
2.5

 
—

 
32.9

Net earnings (loss)
1,476.2


1,544.0


1,419.8


433.4


610.0


1,471.2


2,044.4


(7,506.3
)

1,492.7

Less: Net earnings attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(16.5
)
 
—

 
(16.5
)
Net earnings attributable to Ingersoll-Rand plc
$
1,476.2


$
1,544.0


$
1,419.8


$
433.4


$
610.0


$
1,471.2


$
2,027.9


$
(7,506.3
)

$
1,476.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
(169.6
)
 
(168.5
)
 
(166.8
)
 
(161.1
)
 
(161.5
)
 
5.0

 
33.3

 
619.6

 
(169.6
)
Comprehensive income attributable to Ingersoll-Rand plc
$
1,306.6

 
$
1,375.5

 
$
1,253.0

 
$
272.3

 
$
448.5

 
$
1,476.2

 
$
2,061.2

 
$
(6,886.7
)
 
$
1,306.6



Condensed Consolidating Statement of Comprehensive Income
For the year ended December 31, 2015

In millions
Plc
 
Irish Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
Net revenues
$
—

 
$
—

 
$
—

 
$
—

 
$
1,427.9

 
$
—

 
$
12,259.0

 
$
(386.2
)
 
$
13,300.7

Cost of goods sold
—

 
—

 
—

 
—

 
(1,031.7
)
 
—

 
(8,631.9
)
 
386.2

 
(9,277.4
)
Selling and administrative expenses
(18.9
)
 
—

 
(0.1
)
 
(0.1
)
 
(303.5
)
 
(0.6
)
 
(2,208.4
)
 
—

 
(2,531.6
)
Operating income (loss)
(18.9
)

—


(0.1
)

(0.1
)

92.7


(0.6
)

1,418.7


—


1,491.7

Equity earnings (loss) in subsidiaries, net of tax
706.8

 
710.6

 
570.6

 
301.7

 
693.7

 
359.2

 
—

 
(3,342.6
)
 
—

Interest expense
—

 
—

 
—

 
(127.6
)
 
(48.3
)
 
(42.8
)
 
(4.3
)
 
—

 
(223.0
)
Intercompany interest and fees
(26.7
)
 
(0.2
)
 
(21.4
)
 
(28.6
)
 
(270.6
)
 
(2.4
)
 
349.9

 
—

 
—

Other income/(expense), net
1.4

 
—

 
0.1

 
—

 
(9.1
)
 
—

 
(13.2
)
 
—

 
(20.8
)
Earnings (loss) before income taxes
662.6


710.4


549.2


145.4


458.4


313.4


1,751.1


(3,342.6
)

1,247.9

Benefit (provision) for income taxes
2.0

 
—

 
(9.1
)
 
58.0

 
(125.5
)
 
—

 
(466.2
)
 
—

 
(540.8
)
Earnings (loss) from continuing operations
664.6


710.4


540.1


203.4


332.9


313.4


1,284.9


(3,342.6
)

707.1

Gain (loss) from discontinued operations, net of tax
—

 
—

 
—

 
—

 
(31.4
)
 
—

 
7.1

 
—

 
(24.3
)
Net earnings (loss)
664.6


710.4


540.1


203.4


301.5


313.4


1,292.0


(3,342.6
)

682.8

Less: Net earnings attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(18.2
)
 
—

 
(18.2
)
Net earnings attributable to Ingersoll-Rand plc
$
664.6


$
710.4


$
540.1


$
203.4


$
301.5


$
313.4


$
1,273.8


$
(3,342.6
)

$
664.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
(406.6
)
 
(406.0
)
 
(229.1
)
 
(91.4
)
 
(91.9
)
 
(88.0
)
 
(411.7
)
 
1,318.1

 
(406.6
)
Comprehensive income attributable to Ingersoll-Rand plc
$
258.0


$
304.4


$
311.0


$
112.0


$
209.6


$
225.4


$
862.1


$
(2,024.5
)

$
258.0


Condensed Consolidating Balance Sheet
December 31, 2017

In millions
Plc
 
Irish Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
—

 
$
0.6

 
$
—

 
$
359.3

 
$
—

 
$
1,189.5

 
$
—

 
$
1,549.4

Accounts and notes receivable, net
—

 
—

 
—

 
—

 
166.5

 
—

 
2,310.9

 
—

 
2,477.4

Inventories, net
—

 
—

 
—

 
—

 
168.5

 
—

 
1,386.9

 
—

 
1,555.4

Other current assets
0.2

 
—

 
5.7

 
112.6

 
76.2

 
—

 
342.2

 
—

 
536.9

Intercompany receivables
1,819.1

 
9,912.2

 
2,036.8

 
—

 
1,849.9

 
—

 
5,014.8

 
(20,632.8
)
 
—

Total current assets
1,819.3

 
9,912.2

 
2,043.1

 
112.6

 
2,620.4

 
—

 
10,244.3

 
(20,632.8
)
 
6,119.1

Property, plant and equipment, net
—

 
—

 
—

 
—

 
310.6

 
—

 
1,240.7

 
—

 
1,551.3

Goodwill and other intangible assets, net
—

 
—

 
—

 
—

 
436.0

 
—

 
9,242.6

 
—

 
9,678.6

Other noncurrent assets
—

 
—

 
—

 
185.4

 
471.1

 
—

 
550.8

 
(383.0
)
 
824.3

Investments in consolidated subsidiaries
7,318.1

 
1,684.2

 
2,953.9

 
10,480.3

 
10,923.7

 
1,150.9

 
—

 
(34,511.1
)
 
—

Total assets
$
9,137.4

 
$
11,596.4

 
$
4,997.0

 
$
10,778.3

 
$
14,761.8

 
$
1,150.9

 
$
21,278.4

 
$
(55,526.9
)
 
$
18,173.3

LIABILITIES AND EQUITY

 

 

 

 

 

 

 

 

Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
$
8.5

 
$
—

 
$
0.2

 
$
27.3

 
$
572.3

 
$
6.9

 
$
3,105.8

 
$
—

 
$
3,721.0

Short-term borrowings and current maturities of long-term debt
—

 
—

 
—

 
749.6

 
350.4

 
—

 
7.0

 
—

 
1,107.0

Intercompany payables
1,988.3

 
—

 
9,316.7

 
5,481.1

 
1,790.0

 
523.3

 
1,533.4

 
(20,632.8
)
 
—

Total current liabilities
1,996.8

 
—

 
9,316.9

 
6,258.0

 
2,712.7

 
530.2

 
4,646.2

 
(20,632.8
)
 
4,828.0

Long-term debt
—

 
—

 
—

 
1,539.9

 
326.8

 
1,089.7

 
0.6

 
—

 
2,957.0

Other noncurrent liabilities
0.3

 
—

 
—

 
92.4

 
1,251.8

 
—

 
2,219.9

 
(383.0
)
 
3,181.4

Total liabilities
1,997.1

 
—

 
9,316.9

 
7,890.3

 
4,291.3

 
1,619.9

 
6,866.7

 
(21,015.8
)
 
10,966.4

Equity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total equity
7,140.3

 
11,596.4

 
(4,319.9
)
 
2,888.0

 
10,470.5

 
(469.0
)
 
14,411.7

 
(34,511.1
)
 
7,206.9

Total liabilities and equity
$
9,137.4

 
$
11,596.4

 
$
4,997.0

 
$
10,778.3

 
$
14,761.8

 
$
1,150.9

 
$
21,278.4

 
$
(55,526.9
)
 
$
18,173.3


Condensed Consolidating Balance Sheet
December 31, 2016

In millions
Plc
 
Irish Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
—

 
$
—

 
$
—

 
$
634.6

 
$
—

 
$
1,080.1

 
$
—

 
$
1,714.7

Accounts and notes receivable, net
—

 
—

 
—

 
—

 
171.0

 
—

 
2,052.0

 
—

 
2,223.0

Inventories, net
—

 
—

 
—

 
—

 
165.3

 
—

 
1,220.5

 
—

 
1,385.8

Other current assets
0.2

 
—

 
5.3

 
0.7

 
69.4

 
—

 
189.3

 
(9.1
)
 
255.8

Intercompany receivable
122.3

 
—

 
5.6

 
271.6

 
220.5

 
—

 
11,747.9

 
(12,367.9
)
 
—

Total current assets
122.5

 
—

 
10.9

 
272.3

 
1,260.8

 
—

 
16,289.8

 
(12,377.0
)
 
5,579.3

Property, plant and equipment, net
—

 
—

 
—

 
—

 
445.9

 
—

 
1,065.1

 
—

 
1,511.0

Goodwill and other intangible assets, net
—

 
—

 
—

 
—

 
414.7

 
—

 
9,028.8

 
—

 
9,443.5

Other noncurrent assets
0.2

 
—

 
—

 
262.4

 
676.3

 
—

 
580.1

 
(655.4
)
 
863.6

Investments in consolidated subsidiaries
7,588.1

 
1,500.4

 
3,267.1

 
7,270.2

 
15,273.4

 
1,090.4

 
—

 
(35,989.6
)
 
—

Intercompany notes receivable
—

 
12,560.2

 
—

 
—

 
—

 
—

 
3,851.8

 
(16,412.0
)
 
—

Total assets
$
7,710.8

 
$
14,060.6

 
$
3,278.0

 
$
7,804.9

 
$
18,071.1

 
$
1,090.4

 
$
30,815.6

 
$
(65,434.0
)
 
$
17,397.4

LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
$
7.7

 
$
—

 
$
0.2

 
$
36.3

 
$
525.1

 
$
7.0

 
$
2,662.3

 
$
(9.1
)
 
$
3,229.5

Short-term borrowings and current maturities of long-term debt
—

 
—

 
—

 
—

 
350.4

 
—

 
10.4

 
—

 
360.8

Intercompany payable
1,059.3

 
—

 
3,400.1

 
1,068.2

 
6,285.6

 
486.9

 
67.8

 
(12,367.9
)
 
—

Total current liabilities
1,067.0

 
—

 
3,400.3

 
1,104.5

 
7,161.1

 
493.9

 
2,740.5

 
(12,377.0
)
 
3,590.3

Long-term debt
—

 
—

 
—

 
2,286.3

 
334.2

 
1,088.3

 
0.6

 
—

 
3,709.4

Other noncurrent liabilities
—

 
—

 
—

 
18.2

 
1,280.8

 
—

 
2,735.8

 
(655.4
)
 
3,379.4

Intercompany notes payable
—

 
—

 
6,376.3

 
1,817.2

 
2,034.6

 
—

 
6,183.9

 
(16,412.0
)
 
—

Total liabilities
1,067.0

 
—

 
9,776.6

 
5,226.2

 
10,810.7

 
1,582.2

 
11,660.8

 
(29,444.4
)
 
10,679.1

Equity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total equity
6,643.8

 
14,060.6

 
(6,498.6
)
 
2,578.7

 
7,260.4

 
(491.8
)
 
19,154.8

 
(35,989.6
)
 
6,718.3

Total liabilities and equity
$
7,710.8

 
$
14,060.6

 
$
3,278.0

 
$
7,804.9

 
$
18,071.1

 
$
1,090.4

 
$
30,815.6

 
$
(65,434.0
)
 
$
17,397.4



Condensed Consolidating Statement of Cash Flows
For the year ended December 31, 2017

In millions
Plc
 
Irish Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash provided by (used in) continuing operating activities
$
83.8

 
$
—

 
$
(42.8
)
 
$
(284.9
)
 
$
438.4

 
$
(48.0
)
 
$
1,415.1

 
$
—

 
$
1,561.6

Net cash provided by (used in) discontinued operating activities
—

 
—

 
—

 
—

 
(36.9
)
 
—

 
(1.2
)
 
—

 
(38.1
)
Net cash provided by (used in) operating activities
83.8


—


(42.8
)

(284.9
)

401.5


(48.0
)

1,413.9


—


1,523.5

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
—

 
—

 
—

 
(74.2
)
 
—

 
(147.1
)
 
—

 
(221.3
)
Acquisition of businesses, net of cash acquired
—

 
—

 
—

 
—

 
(2.7
)
 
—

 
(154.9
)
 
—

 
(157.6
)
Proceeds from sale of property, plant and equipment
—

 
—

 
—

 
—

 
—

 
—

 
1.5

 
—

 
1.5

Proceeds from sale of joint venture
—

 
—

 
—

 
—

 
—

 
—

 
2.7

 
—

 
2.7

Intercompany investing activities, net
285.1

 
285.2

 
2,050.2

 
270.1

 
4,899.4

 
11.7

 
6,788.3

 
(14,590.0
)
 
—

Net cash provided by (used in) investing activities
285.1


285.2


2,050.2


270.1


4,822.5


11.7


6,490.5


(14,590.0
)

(374.7
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net proceeds (repayments) of debt
—

 
—

 
—

 
—

 
(7.5
)
 
—

 
(4.2
)
 
—

 
(11.7
)
Debt issuance costs
—

 
—

 
—

 
(0.2
)
 
—

 
—

 
—

 
—

 
(0.2
)
Dividends paid to ordinary shareholders
(430.1
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(430.1
)
Dividends paid to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(15.8
)
 
—

 
(15.8
)
Acquisition of noncontrolling interest
—

 
—

 
—

 
—

 
—

 
—

 
(6.8
)
 
—

 
(6.8
)
Proceeds from shares issued under incentive plans
76.7

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
76.7

Repurchase of ordinary shares
(1,016.9
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(1,016.9
)
Other financing activities, net
(25.4
)
 
—

 
—

 
—

 
(1.7
)
 
—

 
(0.6
)
 
—

 
(27.7
)
Intercompany financing activities, net
1,026.8

 
(285.2
)
 
(2,006.8
)
 
15.0

 
(5,490.1
)
 
36.3

 
(7,886.0
)
 
14,590.0

 
—

Net cash provided by (used in) financing activities
(368.9
)

(285.2
)

(2,006.8
)

14.8


(5,499.3
)

36.3


(7,913.4
)

14,590.0


(1,432.5
)
Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
—

 
—

 
—

 
—

 
118.4

 
—

 
118.4

Net increase (decrease) in cash and cash equivalents
—


—


0.6


—


(275.3
)

—


109.4


—


(165.3
)
Cash and cash equivalents - beginning of period
—

 
—

 
—

 
—

 
634.6

 
—

 
1,080.1

 
—

 
1,714.7

Cash and cash equivalents - end of period
$
—


$
—


$
0.6


$
—


$
359.3


$
—


$
1,189.5


$
—


$
1,549.4


Condensed Consolidating Statement of Cash Flows
For the year ended December 31, 2016
 
In millions
Plc
 
Irish Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash provided by (used in) continuing operating activities
$
(80.4
)
 
$
—

 
$
(42.0
)
 
$
(276.6
)
 
$
823.4

 
$
(47.3
)
 
$
1,055.9

 
$
—

 
$
1,433.0

Net cash provided by (used in) discontinued operating activities
—

 
—

 
—

 
—

 
86.4

 
—

 
2.5

 
—

 
88.9

Net cash provided by (used in) operating activities
(80.4
)

—


(42.0
)

(276.6
)

909.8


(47.3
)

1,058.4


—


1,521.9

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
—

 
—

 
—

 
(73.7
)
 
—

 
(109.0
)
 
—

 
(182.7
)
Acquisition of businesses, net of cash acquired
—

 
—

 
—

 
—

 
(9.2
)
 
—

 
—

 
—

 
(9.2
)
Proceeds from sale of property, plant and equipment
—

 
—

 
—

 
—

 
—

 
—

 
9.5

 
—

 
9.5

Proceeds from sale of Hussmann equity investment
—

 
—

 
—

 
—

 
—

 
—

 
422.5

 
—

 
422.5

Intercompany investing activities, net
(90.1
)
 
(19,465.7
)
 
6,181.4

 
(172.9
)
 
65.8

 
336.1

 
(2,226.8
)
 
15,372.2

 
—

Net cash provided by (used in) investing activities
(90.1
)

(19,465.7
)

6,181.4


(172.9
)

(17.1
)

336.1


(1,903.8
)

15,372.2


240.1

CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net proceeds (repayments) of debt
—

 
—

 
—

 
—

 
(7.7
)
 
(143.0
)
 
—

 
—

 
(150.7
)
Debt issuance costs
—

 
—

 
—

 
(2.1
)
 
—

 
—

 
—

 
—

 
(2.1
)
Dividends paid to ordinary shareholders
(348.6
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(348.6
)
Dividends paid to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(14.1
)
 
—

 
(14.1
)
Proceeds from shares issued under incentive plans
62.9

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
62.9

Repurchase of ordinary shares
(250.1
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(250.1
)
Other financing activities, net
(24.2
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(24.2
)
Intercompany financing activities, net
730.5

 
19,465.7

 
(6,139.4
)
 
440.2

 
(250.4
)
 
(145.9
)
 
1,271.5

 
(15,372.2
)
 
—

Net cash provided by (used in) financing activities
170.5


19,465.7


(6,139.4
)

438.1


(258.1
)

(288.9
)

1,257.4


(15,372.2
)

(726.9
)
Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
—

 
—

 
—

 
—

 
(57.2
)
 
—

 
(57.2
)
Net increase (decrease) in cash and cash equivalents
—


—


—


(11.4
)

634.6


(0.1
)

354.8


—


977.9

Cash and cash equivalents – beginning of period
—

 
—

 
—

 
11.4

 
—

 
0.1

 
725.3

 
—

 
736.8

Cash and cash equivalents – end of period
$
—


$
—


$
—


$
—


$
634.6


$
—


$
1,080.1


$
—


$
1,714.7


Condensed Consolidating Statement of Cash Flows
For the year ended December 31, 2015

In millions
Plc
 
Irish Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash provided by (used in) continuing operating activities
$
(22.9
)
 
$
(1.2
)
 
$
(33.6
)
 
$
(122.9
)
 
$
(294.3
)
 
$
(45.8
)
 
$
1,444.2

 
$
—

 
$
923.5

Net cash provided by (used in) discontinued operating activities
—

 
—

 
—

 
—

 
(30.6
)
 
—

 
(4.5
)
 
—

 
(35.1
)
Net cash provided by (used in) operating activities
(22.9
)

(1.2
)

(33.6
)

(122.9
)

(324.9
)

(45.8
)

1,439.7


—


888.4

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
—

 
—

 
—

 
(122.9
)
 
—

 
(126.7
)
 
—

 
(249.6
)
Acquisition of businesses, net of cash acquired
—

 
—

 
—

 
—

 
(443.5
)
 
—

 
(518.3
)
 
—

 
(961.8
)
Proceeds from sale of property, plant and equipment
—

 
—

 
—

 
—

 
3.0

 
—

 
15.5

 
—

 
18.5

Intercompany investing activities, net
—

 
3.5

 
1,963.3

 
339.0

 
125.4

 
(228.0
)
 
(1,012.6
)
 
(1,190.6
)
 
—

Net cash provided by (used in) investing activities
—


3.5


1,963.3


339.0


(438.0
)

(228.0
)

(1,642.1
)

(1,190.6
)

(1,192.9
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net proceeds (repayments) of debt
—

 
—

 
—

 
(0.1
)
 
(7.6
)
 
43.0

 
(28.9
)
 
—

 
6.4

Dividends paid to ordinary shareholders
(303.3
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(303.3
)
Dividends paid to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(9.3
)
 
—

 
(9.3
)
Proceeds from shares issued under incentive plans
61.3

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
61.3

Repurchase of ordinary shares
(250.1
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(250.1
)
Other financing activities, net
(32.6
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(32.6
)
Intercompany financing activities, net
547.6

 
(2.3
)
 
(1,930.8
)
 
(204.6
)
 
345.1

 
230.9

 
(176.5
)
 
1,190.6

 
—

Net cash provided by (used in) financing activities
22.9


(2.3
)

(1,930.8
)

(204.7
)

337.5


273.9


(214.7
)

1,190.6


(527.6
)
Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
—

 
—

 
—

 
—

 
(136.3
)
 
—

 
(136.3
)
Net increase (decrease) in cash and cash equivalents
—


—


(1.1
)

11.4


(425.4
)

0.1


(553.4
)

—


(968.4
)
Cash and cash equivalents – beginning of period
—

 
—

 
1.1

 
—

 
425.4

 
—

 
1,278.7

 
—

 
1,705.2

Cash and cash equivalents – end of period
$
—


$
—


$
—


$
11.4


$
—


$
0.1


$
725.3


$
—


$
736.8

Valuation and Qualifying Accounts [Schedule] Valuation and Qualifying Accounts (Notes)
Schedule of Valuation and Qualifying Accounts Disclosure
INGERSOLL-RAND PLC
VALUATION AND QUALIFYING ACCOUNTS
FOR THE YEARS ENDED December 31, 2017, 2016 AND 2015
(Amounts in millions)
 
Allowances for Doubtful Accounts:
 
 
 
Balance December 31, 2014
$
34.1

Additions charged to costs and expenses
1.4

Deductions (a)
(5.3
)
Business acquisitions and divestitures, net
0.3

Currency translation
(2.2
)
 
 
Balance December 31, 2015
28.3

Additions charged to costs and expenses
7.9

Deductions (a)
(9.5
)
Business acquisitions and divestitures, net
—

Currency translation
(0.7
)
 
 
Balance December 31, 2016
26.0

Additions charged to costs and expenses
9.7

Deductions (a)
(9.7
)
Business acquisitions and divestitures, net
—

Currency translation
1.3

Other
(0.4
)
 
 
Balance December 31, 2017
$
26.9

 
(a)
“Deductions” include accounts and advances written off, less recoveries.
Summary of Significant Accounting Policies (Policy)
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] 
Basis of Presentation:  The accompanying Consolidated Financial Statements reflect the consolidated operations of the Company and have been prepared in accordance with U.S. Generally Accepted Accounting Principles (GAAP) as defined by the Financial Accounting Standards Board (FASB) within the FASB Accounting Standards Codification (ASC). Intercompany accounts and transactions have been eliminated. The assets, liabilities, results of operations and cash flows of all discontinued operations have been separately reported as discontinued operations for all periods presented. Certain reclassifications of amounts reported in prior periods have been made to conform with the current period presentation.
The Consolidated Financial Statements include all majority-owned subsidiaries of the Company. A noncontrolling interest in a subsidiary is considered an ownership interest in a majority-owned subsidiary that is not attributable to the parent. The Company includes Noncontrolling interest as a component of Total equity in the Consolidated Balance Sheet and the Net earnings attributable to noncontrolling interests are presented as an adjustment from Net earnings used to arrive at Net earnings attributable to Ingersoll-Rand plc in the Consolidated Statement of Comprehensive Income. Partially-owned equity affiliates represent 20-50% ownership interests in investments where the Company demonstrates significant influence, but does not have a controlling financial interest. Partially-owned equity affiliates are accounted for under the equity method.
Use of Estimates, Policy 
Use of Estimates:  The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Estimates are based on several factors including the facts and circumstances available at the time the estimates are made, historical experience, risk of loss, general economic conditions and trends, and the assessment of the probable future outcome. Actual results could differ from those estimates. Estimates and assumptions are reviewed periodically, and the effects of changes, if any, are reflected in the statement of operations in the period that they are determined.
Currency Translation 
Currency Translation:  Assets and liabilities of non-U.S. subsidiaries, where the functional currency is not the U.S. dollar, have been translated at year-end exchange rates, and income and expense accounts have been translated using average exchange rates throughout the year. Adjustments resulting from the process of translating an entity’s financial statements into the U.S. dollar have been recorded in the equity section of the Consolidated Balance Sheet within Accumulated other comprehensive income (loss). Transactions that are denominated in a currency other than an entity’s functional currency are subject to changes in exchange rates with the resulting gains and losses recorded within Net earnings.
Cash and Cash Equivalents 
Cash and Cash Equivalents:  Cash and cash equivalents include cash on hand, demand deposits and all highly liquid investments with original maturities at the time of purchase of three months or less.
Inventories 
Inventories:  Depending on the business, U.S. inventories are stated at the lower of cost or market using the last-in, first-out (LIFO) method or the lower of cost or market using the first-in, first-out (FIFO) method. Non-U.S. inventories are primarily stated at the lower of cost or market using the FIFO method. At both December 31, 2017 and 2016, approximately 51% of all inventory utilized the LIFO method.
Allowance for Doubtful Accounts 
Allowance for Doubtful Accounts:  The Company maintains an allowance for doubtful accounts receivable which represents the best estimate of probable loss inherent in the Company's accounts receivable portfolio. This estimate is based upon a two-step policy that results in the total recorded allowance for doubtful accounts. The first step is to record a portfolio reserve based on the aging of the outstanding accounts receivable portfolio and the Company's historical experience with the Company's end markets, customer base and products. The second step is to create a specific reserve for significant accounts as to which the customer's ability to satisfy their financial obligation to the Company is in doubt due to circumstances such as bankruptcy, deteriorating operating results or financial position. In these circumstances, management uses its judgment to record an allowance based on the best estimate of probable loss, factoring in such considerations as the market value of collateral, if applicable. Actual results could differ from those estimates. These estimates and assumptions are reviewed periodically, and the effects of changes, if any, are reflected in the Consolidated Statement of Comprehensive Income in the period that they are determined. The Company reserved $26.9 million and $26.0 million for doubtful accounts as of December 31, 2017 and 2016, respectively.
Property, Plant and Equipment 
Property, Plant and Equipment:  Property, plant and equipment are stated at cost, less accumulated depreciation. Assets placed in service are recorded at cost and depreciated using the straight-line method over the estimated useful life of the asset except for leasehold improvements, which are depreciated over the shorter of their economic useful life or their lease term. The range of useful lives used to depreciate property, plant and equipment is as follows:
Buildings
10
to
50
years
Machinery and equipment
2
to
12
years
Software
2
to
7
years
Major expenditures for replacements and significant improvements that increase asset values and extend useful lives are also capitalized. Capitalized costs are amortized over their estimated useful lives using the straight-line method. Repairs and maintenance expenditures that do not extend the useful life of the asset are charged to expense as incurred. The carrying amounts of assets that are sold or retired and the related accumulated depreciation are removed from the accounts in the year of disposal, and any resulting gain or loss is reflected within current earnings.
Per ASC 360, "Property, Plant, and Equipment," (ASC 360) the Company assesses the recoverability of the carrying value of its property, plant and equipment whenever events or changes in circumstances indicate that the carrying amount of the asset group may not be recoverable. Recoverability is measured by a comparison of the carrying amount of an asset group to the future net undiscounted cash flows expected to be generated by the asset group. If the undiscounted cash flows are less than the carrying amount of the asset group, an impairment loss is recognized for the amount by which the carrying value of the asset group exceeds the fair value of the asset group.
Goodwill and Intangible Assets 
Goodwill and Intangible Assets:  The Company records as goodwill the excess of the purchase price over the fair value of the net assets acquired. In accordance with ASC 350, "Intangibles-Goodwill and Other," (ASC 350) goodwill and other indefinite-lived intangible assets are tested and reviewed annually for impairment during the fourth quarter or whenever there is a significant change in events or circumstances that indicate that the fair value of the asset is more likely than not less than the carrying amount of the asset.
Impairment of goodwill is assessed at the reporting unit level and begins with an optional qualitative assessment to determine if it is more likely than not that the fair value of each reporting unit is less than its carrying amount as a basis for determining whether it is necessary to perform the goodwill impairment test under ASC 350. For those reporting units that bypass or fail the qualitative assessment, the test compares the carrying amount of the reporting unit to its estimated fair value. If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not impaired. To the extent that the carrying value of the reporting unit exceeds its estimated fair value, an impairment loss will be recognized for the amount by which the reporting unit's carrying amount exceeds its fair value, not to exceed the carrying amount of goodwill in that reporting unit.
Intangible assets such as patents, customer-related intangible assets and other intangible assets with finite useful lives are amortized on a straight-line basis over their estimated economic lives. The weighted-average useful lives approximate the following:
Customer relationships
20
years
Completed technology/patents
10
years
Other
20
years

Income Taxes 
Income Taxes:  
Standard Product Warranty, Policy 
Product Warranties:  Standard product warranty accruals are recorded at the time of sale and are estimated based upon product warranty terms and historical experience. The Company assesses the adequacy of its liabilities and will make adjustments as necessary based on known or anticipated warranty claims, or as new information becomes available.
Extended Product Warranty, Policy 
The Company's extended warranty liability represents the deferred revenue associated with its extended warranty contracts and is amortized into Revenue on a straight-line basis over the life of the contract, unless another method is more representative of the costs incurred. The Company assesses the adequacy of its liability by evaluating the expected costs under its existing contracts to ensure these expected costs do not exceed the extended warranty liability.
Treasury Stock 
Treasury Stock:  
Revenue Recognition 
Revenue Recognition:  Revenue is recognized and earned when all of the following criteria are satisfied: (a) persuasive evidence of a sales arrangement exists; (b) the price is fixed or determinable; (c) collectability is reasonably assured; and (d) delivery has occurred or service has been rendered. Delivery generally occurs when the title and the risks and rewards of ownership have substantially transferred to the customer. Both the persuasive evidence of a sales arrangement and fixed or determinable price criteria are deemed to be satisfied upon receipt of an executed and legally binding sales agreement or contract that clearly defines the terms and conditions of the transaction including the respective obligations of the parties. If the defined terms and conditions allow variability in all or a component of the price, revenue is not recognized until such time that the price becomes fixed or determinable. At the point of sale, the Company validates that existence of an enforceable claim that requires payment within a reasonable amount of time and assesses the collectability of that claim. If collectability is not deemed to be reasonably assured, then revenue recognition is deferred until such time that collectability becomes probable or cash is received. Delivery is not considered to have occurred until the customer has taken title and assumed the risks and rewards of ownership. Service and installation revenue are recognized when earned. In some instances, customer acceptance provisions are included in sales arrangements to give the buyer the ability to ensure the delivered product or service meets the criteria established in the order. In these instances, revenue recognition is deferred until the acceptance terms specified in the arrangement are fulfilled through customer acceptance or a demonstration that established criteria have been satisfied. If uncertainty exists about customer acceptance, revenue is not recognized until acceptance has occurred.
The Company offers various sales incentive programs to customers, dealers, and distributors. Sales incentive programs do not preclude revenue recognition, but do require an accrual for the Company's best estimate of expected activity. Examples of the sales incentives that are accrued for as a contra receivable and sales deduction at the point of sale include, but are not limited to, discounts (i.e., net 30 type), coupons, and rebates where the customer does not have to provide any additional requirements to receive the discount. Sales returns and customer disputes involving a question of quantity or price are also accounted for as a reduction in revenue and a contra receivable. At December 31, 2017 and 2016, the Company had a customer claim accrual (contra receivable) of $3.2 million and $3.7 million, respectively. All other incentives or incentive programs where the customer is required to reach a certain sales level, remain a customer for a certain period of time, provide a rebate form or is subject to additional requirements are accounted for as a reduction of revenue and establishment of a liability. At December 31, 2017 and 2016, the Company had a sales incentive accrual of $107.3 million and $87.5 million, respectively. Each of these accruals represents the best estimate the Company expects to pay related to previously sold units. These estimates are reviewed regularly for appropriateness. If updated information or actual amounts are different from previous estimates, the revisions are included in the results for the period in which they become known. Historically, the aggregate differences, if any, between the Company's estimates and actual amounts in any year have not had a material impact on the Consolidated Financial Statements.
The Company enters into maintenance and extended warranty contracts with customers. Revenue related to these services is recognized on a straight-line basis over the life of the contract, unless sufficient historical evidence indicates that the cost of providing these services is incurred on an other than straight-line basis. In these circumstances, revenue is recognized over the contract period in proportion to the costs expected to be incurred in performing the service.
The Company, primarily through its Climate segment, enters into construction-type contracts to design, deliver and build integrated HVAC solutions to meet customer specifications. The term of these types of contracts is typically less than one year, but can be as long as three years. Revenues related to these contracts are recognized using the percentage-of-completion method in accordance with GAAP. This measure of progress toward completion, utilized to recognize sales and profits, is based on the proportion of actual cost incurred to date as compared to the total estimate of contract costs at completion. The timing of revenue recognition often differs from the invoicing schedule to the customer, with revenue recognition in advance of customer invoicing recorded to unbilled accounts receivable and invoicing in advance of revenue recognition recorded to deferred revenue. At December 31, 2017, all recorded receivables (billed and unbilled) are due within one year. The Company re-evaluates its contract estimates periodically and reflects changes in estimates in the current period using the cumulative catch-up method. These periodic reviews have not historically resulted in significant adjustments. If estimated contract costs are in excess of contract revenues, then the excess costs are accrued.
The Company enters into sales arrangements that contain multiple elements, such as equipment, installation and service revenue. For multiple element arrangements, each element is evaluated to determine the separate units of accounting. The total arrangement consideration is then allocated to the separate units of accounting based on their relative selling price at the inception of the arrangement. The relative selling price is determined using vendor specific objective evidence (VSOE) of selling price, if it exists; otherwise, third-party evidence (TPE) of selling price is used. If neither VSOE nor TPE of selling price exists for a deliverable, a best estimate of the selling price is developed for that deliverable. The Company primarily utilizes VSOE to determine its relative selling price. The Company recognizes revenue for delivered elements when the delivered item has stand-alone value to the customer, the basic revenue recognition criteria have been met, and only customary refund or return rights related to the delivered elements exist.
Regulatory Environmental Costs, Policy 
Environmental Costs:  The Company is subject to laws and regulations relating to protecting the environment. Environmental expenditures relating to current operations are expensed or capitalized as appropriate. Expenditures relating to existing conditions caused by past operations, which do not contribute to current or future revenues, are expensed. Liabilities for remediation costs are recorded when they are probable and can be reasonably estimated, generally no later than the completion of feasibility studies or the Company’s commitment to a plan of action. The assessment of this liability, which is calculated based on existing technology, does not reflect any offset for possible recoveries from insurance companies, and is not discounted
Asbestos Matters 
Asbestos Matters:  
Research and Development Expense, Policy 
Research and Development Costs:  The Company conducts research and development activities for the purpose of developing and improving new products and services. These expenditures are expensed when incurred. For the years ended December 31, 2017, 2016 and 2015, these expenditures amounted to approximately $210.8 million, $207.9 million and $205.9 million, respectively.
Internal Use Software, Policy 
Software Costs:  The Company capitalizes certain qualified internal-use software costs during the application development stage and subsequently amortizes those costs over the software's useful life, which ranges from 2 to 7 years.
Compensation Related Costs, Policy 
Employee Benefit Plans: The Company provides a range of benefits, including pensions, postretirement and postemployment benefits to eligible current and former employees. Determining the cost associated with such benefits is dependent on various actuarial assumptions, including discount rates, expected return on plan assets, compensation increases, mortality, turnover rates, and healthcare cost trend rates. Actuaries perform the required calculations to determine expense in accordance with GAAP. Actual results may differ from the actuarial assumptions and are generally accumulated into Accumulated other comprehensive income (loss) and amortized into Net earnings over future periods. The Company reviews its actuarial assumptions at each measurement date and makes modifications to the assumptions based on current rates and trends, if appropriate.
Loss Contingencies 
Loss Contingencies:  Liabilities are recorded for various contingencies arising in the normal course of business, including litigation and administrative proceedings, environmental matters, product liability, product warranty, worker’s compensation and other claims. The Company has recorded reserves in the financial statements related to these matters, which are developed using input derived from actuarial estimates and historical and anticipated experience data depending on the nature of the reserve, and in certain instances with consultation of legal counsel, internal and external consultants and engineers. Subject to the uncertainties inherent in estimating future costs for these types of liabilities, the Company believes its estimated reserves are reasonable and does not believe the final determination of the liabilities with respect to these matters would have a material effect on the financial condition, results of operations, liquidity or cash flows of the Company for any year.
Derivative Instruments 
Derivative Instruments:  The Company periodically enters into cash flow and other derivative transactions to specifically hedge exposure to various risks related to interest rates and currency rates. The Company recognizes all derivatives on the Consolidated Balance Sheet at their fair value as either assets or liabilities. For cash flow designated hedges, the effective portion of the changes in fair value of the derivative contract are recorded in Accumulated other comprehensive income (loss), net of taxes, and are recognized in Net earnings at the time earnings are affected by the hedged transaction. For other derivative transactions, the changes in the fair value of the derivative contract are immediately recognized in Net earnings.
Recent adopted accounting pronouncements 
Recently Adopted Accounting Pronouncements
In March 2017, the FASB issued ASU 2017-07, "Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost" (ASU 2017-07) which changes the way employers that sponsor defined benefit pension and/or postretirement benefit plans reflect net periodic benefit costs in the income statement. Under the previous standard, the multiple components of net periodic benefit costs are aggregated and reported within the operating section of the income statement or capitalized into assets when appropriate. The new standard requires a company to present the service cost component of net periodic benefit cost in the same income statement line as other employee compensation costs with the remaining components of net periodic benefit cost presented separately from the service cost component and outside of any subtotal of operating income, if one is presented. In addition, only the service cost component will be eligible for capitalization in assets. The Company adopted this standard on January 1, 2017 applying the presentation requirements retrospectively. Refer to Note 10, "Pensions and Postretirement Benefits Other than Pensions" and Note 14, "Other Income/ (Expense), net" for additional information.
In January 2017, the FASB issued ASU 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” (ASU 2017-04) which simplifies the accounting for goodwill impairment by eliminating Step 2 of the current goodwill impairment test which requires a hypothetical purchase price allocation to measure goodwill impairment. Under the new standard, a company will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. ASU 2017-04 does not change the guidance on completing Step 1 of the goodwill impairment test and still allows a company to perform the optional qualitative goodwill impairment assessment before determining whether to proceed to Step 1. The Company adopted this standard on January 1, 2017 and will apply its guidance on future impairment assessments.
In November 2016, the FASB issued ASU 2016-18, "Statement of Cash Flows (Topic 230): Restricted Cash" (ASU 2016-18). This standard requires restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period amounts shown on the statements of cash flows. In addition, the standard requires disclosure of the nature of restrictions on cash balances and how the statement of cash flows reconciles to the balance sheet in any situation in which the balance sheet includes more that one line item of cash, cash equivalents and restricted cash. The Company adopted this standard on October 1, 2017 with no impact to its financial statements.
In August 2016, the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (ASU 2016-15). This standard clarifies how certain cash receipts and cash payments are classified on the statement of cash flows. The following eight specific cash flow issues are addressed: debt prepayment or debt extinguishment costs; settlement of zero-coupon debt instruments or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies (including bank-owned life insurance policies); distributions received from equity method investees; beneficial interests in securitization transactions and separately identifiable cash flows. In addition, the standard clarifies how the predominance principle should be applied when cash receipts and cash payments have aspects of more than one class of cash flows. The Company adopted this standard on October 1, 2017 with no impact to its financial statements.
In March 2016, the FASB issued ASU No. 2016-09, "Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting" (ASU 2016-09) which simplifies several aspects of the accounting for employee share-based payment transactions. The standard makes several modifications to the accounting for forfeitures, employer tax withholding on share-based compensation and the financial statement presentation of excess tax benefits or deficiencies. In addition, ASU 2016-09 clarifies the statement of cash flows presentation for certain components of share-based awards. The Company adopted this standard on January 1, 2017 and prospectively presented any excess tax benefits or deficiencies in the income statement as a component of Provision for income taxes rather than in the Equity section of the Balance Sheet. As part of the adoption, the Company reclassified $15.1 million of excess tax benefits previously unrecognized on a modified retrospective basis through a cumulative-effect adjustment to increase Retained earnings as of January 1, 2017. In addition, the statement of cash flows for the twelve months ended December 31, 2016 and December 31, 2015 was retrospectively adjusted to present $21.7 million and $37.3 million, respectively, of excess tax benefits as an operating activity rather than a financing activity.
Recently Issued Accounting Pronouncements
Summary of Significant Accounting Policies (Tables)
Schedule of Depreciation Range of Useful Lives 
Property, Plant and Equipment:  Property, plant and equipment are stated at cost, less accumulated depreciation. Assets placed in service are recorded at cost and depreciated using the straight-line method over the estimated useful life of the asset except for leasehold improvements, which are depreciated over the shorter of their economic useful life or their lease term. The range of useful lives used to depreciate property, plant and equipment is as follows:
Buildings
10
to
50
years
Machinery and equipment
2
to
12
years
Software
2
to
7
years
Major expenditures for replacements and significant improvements that increase asset values and extend useful lives are also capitalized. Capitalized costs are amortized over their estimated useful lives using the straight-line method. Repairs and maintenance expenditures that do not extend the useful life of the asset are charged to expense as incurred. The carrying amounts of assets that are sold or retired and the related accumulated depreciation are removed from the accounts in the year of disposal, and any resulting gain or loss is reflected within current earnings.
Per ASC 360, "Property, Plant, and Equipment," (ASC 360) the Company assesses the recoverability of the carrying value of its property, plant and equipment whenever events or changes in circumstances indicate that the carrying amount of the asset group may not be recoverable. Recoverability is measured by a comparison of the carrying amount of an asset group to the future net undiscounted cash flows expected to be generated by the asset group. If the undiscounted cash flows are less than the carrying amount of the asset group, an impairment loss is recognized for the amount by which the carrying value of the asset group exceeds the fair value of the asset group.
Schedule of Intangible Assets Weighted Average Useful Lives 
The weighted-average useful lives approximate the following:
Customer relationships
20
years
Completed technology/patents
10
years
Other
20
years

Inventories (Tables)
MajorClassesOfInventory [Table Text Block]
At December 31, the major classes of inventory were as follows:
In millions
 
2017
 
2016
Raw materials
 
$
502.8

 
$
448.5

Work-in-process
 
180.5

 
154.0

Finished goods
 
941.0

 
845.6

 
 
1,624.3

 
1,448.1

LIFO reserve
 
(68.9
)
 
(62.3
)
Total
 
$
1,555.4

 
$
1,385.8

Property, Plant and Equipment (Tables)
Schedule of Major Classes of Property, Plant and Equipment
At December 31, the major classes of property, plant and equipment were as follows:
In millions
 
2017
 
2016
Land
 
$
52.0

 
$
49.2

Buildings
 
770.1

 
708.9

Machinery and equipment
 
2,019.5

 
1,831.1

Software
 
822.7

 
778.5

 
 
3,664.3

 
3,367.7

Accumulated depreciation
 
(2,113.0
)
 
(1,856.7
)
Total
 
$
1,551.3

 
$
1,511.0

Goodwill (Tables)
Changes in Goodwill Carrying Amounts
The changes in the carrying amount of Goodwill are as follows: 
In millions
 
Climate
 
Industrial
 
Total
Net balance as of December 31, 2015
 
$
4,952.6

 
$
777.6

 
$
5,730.2

Acquisitions (1)
 
0.4

 
12.5

 
12.9

Currency translation
 
(73.9
)
 
(10.8
)
 
(84.7
)
Net balance as of December 31, 2016
 
4,879.1

 
779.3

 
5,658.4

Acquisitions (2)
 
26.3

 
60.5

 
86.8

Currency translation
 
159.7

 
30.8

 
190.5

Net balance as of December 31, 2017
 
5,065.1

 
870.6

 
5,935.7


(1) During 2016, the Company acquired distributors of Industrial products that were previously independently owned. These acquisitions are not considered material for further disclosure.
(2) During 2017, the Company acquired several businesses, including channel acquisitions, that complement existing products and services. Refer to Note 16, "Acquisitions and Divestitures" for more information regarding acquisitions.
The net goodwill balances at December 31, 2017, 2016 and 2015 include $2,496.0 million
Intangible Assets (Tables)
Schedule Of Intangible Asset Excluding Goodwill
The following table sets forth the gross amount and related accumulated amortization of the Company’s intangible assets at December 31:
 
 
2017
 
2016
In millions
 
Gross carrying amount
 
Accumulated amortization
 
Net carrying amount
 
Gross carrying amount
 
Accumulated amortization
 
Net carrying amount
Completed technologies/patents
 
$
209.4

 
$
(177.3
)
 
$
32.1

 
$
203.0

 
$
(165.6
)
 
$
37.4

Customer relationships
 
2,068.9

 
(1,056.9
)
 
1,012.0

 
2,008.9

 
(926.1
)
 
1,082.8

Other
 
93.9

 
(52.7
)
 
41.2

 
61.1

 
(48.5
)
 
12.6

Total finite-lived intangible assets
 
$
2,372.2

 
$
(1,286.9
)
 
$
1,085.3

 
$
2,273.0

 
$
(1,140.2
)
 
$
1,132.8

Trademarks (indefinite-lived)
 
2,657.6

 
—

 
2,657.6

 
2,652.3

 
—

 
2,652.3

Total
 
$
5,029.8

 
$
(1,286.9
)
 
$
3,742.9

 
$
4,925.3

 
$
(1,140.2
)
 
$
3,785.1

Debt and Credit Facilities (Tables)
Short-Term Borrowings and Current Maturities of Long-Term Debt 
At December 31, Short-term borrowings and current maturities of long-term debt consisted of the following:
In millions
 
2017
 
2016
Debentures with put feature
 
$
343.0

 
$
343.0

6.875% Senior notes due 2018 (1)
 
749.6

 
—

Other current maturities of long-term debt
 
7.7

 
7.7

Short-term borrowings
 
6.7

 
10.1

Total
 
$
1,107.0

 
$
360.8

Long-Term Debt Excluding Current Maturities 
At December 31, long-term debt excluding current maturities consisted of:
In millions
 
2017
 
2016
6.875% Senior notes due 2018
 
$
—

 
$
748.6

2.875% Senior notes due 2019
 
349.4

 
348.6

2.625% Senior notes due 2020
 
298.9

 
298.5

9.000% Debentures due 2021
 
124.9

 
124.8

4.250% Senior notes due 2023
 
696.5

 
695.6

7.200% Debentures due 2018-2025
 
52.3

 
59.7

3.550% Senior notes due 2024
 
495.2

 
494.5

6.48% Debentures due 2025
 
149.7

 
149.7

5.750% Senior notes due 2043
 
494.0

 
493.6

4.650% Senior notes due 2044
 
295.6

 
295.4

Other loans and notes, at end-of-year average interest rates of 5.71% in 2017 and
6.79% in 2016, maturing in various amounts to 2022
 
0.5

 
0.4

Total
 
$
2,957.0

 
$
3,709.4

Schedule of Long-Term Debt Maturities and Repayments of Principle 
December 31, 2017 are as follows:
In millions
  
2018
$
1,100.3

2019
357.2

2020
306.6

2021
132.4

2022
7.5

Thereafter
2,153.3

Total
$
4,057.3

Financial Instruments (Tables)
Schedule of the Fair Values of Derivative Instruments 
The fair values of derivative instruments included within the Consolidated Balance Sheet as of December 31 were as follows:
 
 
Derivative assets
 
Derivative liabilities
In millions
 
2017
 
2016
 
2017
 
2016
Derivatives designated as hedges:
 
 
 
 
 
 
 
 
Currency derivatives
 
$
—

 
$
0.3

 
$
1.3

 
$
2.9

Derivatives not designated as hedges:
 
 
 
 
 
 
 
 
Currency derivatives
 
7.2

 
0.3

 
1.2

 
17.9

Total derivatives
 
$
7.2

 
$
0.6

 
$
2.5

 
$
20.8

Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss) [Table Text Block] 
years ended December 31:
 
 
Amount of gain (loss)
recognized in AOCI
 
Location of gain (loss) reclassified from AOCI and recognized into Net earnings
 
Amount of gain (loss) reclassified from AOCI and recognized into Net earnings
In millions
 
2017
 
2016
 
2015
 
 
2017
 
2016
 
2015
Currency derivatives designated as hedges
 
$
(1.8
)
 
$
2.2

 
$
1.2

 
Cost of goods sold
 
$
(3.1
)
 
$
5.3

 
$
(2.1
)
Interest rate swaps & locks
 
—

 
—

 
—

 
Interest expense
 
(0.5
)
 
(0.5
)
 
(0.5
)
Total
 
$
(1.8
)
 
$
2.2

 
$
1.2

 
 
 
$
(3.6
)
 
$
4.8

 
$
(2.6
)
Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block] 
the years ended December 31:
In millions
 
Location of gain (loss) recognized in Net earnings
 
Amount of gain (loss) recognized in Net earnings
2017
 
2016
 
2015
Currency derivatives
 
Other income/(expense), net
 
$
58.0

 
$
(39.2
)
 
$
0.1

Total
 
 
 
$
58.0

 
$
(39.2
)

$
0.1

Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]
The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2017:
In Millions
Fair Value
 
Fair value measurements
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
Derivative instruments
$
7.2

 
$
—

 
$
7.2

 
$
—

Liabilities:
 
 
 
 
 
 
 
Derivative instruments
$
2.5

 
$
—

 
$
2.5

 
$
—

Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]
The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2016:
In Millions
Fair Value
 
Fair value measurements
 
Level 1
 
Level 2
 
Level 3
Assets:
 
 
 
 
 
 
 
Derivative instruments
$
0.6

 
$
—

 
$
0.6

 
$
—

Liabilities:
 
 
 
 
 
 
 
Derivative instruments
$
20.8

 
$
—

 
$
20.8

 
$
—

Pensions and Postretirement Benefits Other than Pensions (Tables)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Multiemployer Plans Disclosure
Text Block 
 
Pension Plans [Member]
 
 
Schedule of Changes in Projected Benefit Obligations [Table Text Block]
Text Block 
 
Schedule of Comprehensive Income (Loss) [Table Text Block]
Text Block 
 
Schedule of Assumptions Used [Table Text Block]
Text Block 
 
Schedule of Expected Benefit Payments [Table Text Block]
Text Block 
 
Schedule of Net Benefit Costs [Table Text Block]
Text Block 
 
Schedule of Defined Benefit Plans Disclosures [Table Text Block]
Text Block 
Text Block 
Postretirement [Member]
 
 
Schedule of Changes in Projected Benefit Obligations [Table Text Block]
Text Block 
 
Schedule of Comprehensive Income (Loss) [Table Text Block]
Text Block 
 
Schedule of Assumptions Used [Table Text Block]
Text Block 
 
Schedule of Expected Benefit Payments [Table Text Block]
Text Block 
 
Schedule of Net Funded Status [Table Text Block]
Text Block 
 
Schedule of Costs of Retirement Plans [Table Text Block]
Text Block 
 
Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block]
Text Block 
 
Multiemployer Plans Disclosure 
Total contributions to multiemployer plans for the years ended December 31 were as follows:
In millions
 
2017
 
2016
 
2015
Total contributions
 
$
9.0

 
$
7.7

 
$
6.7

Schedule of Changes in Projected Benefit Obligations [Table Text Block] 
The following table details information regarding the Company’s pension plans at December 31:
In millions
 
2017
 
2016
Change in benefit obligations:
 
 
 
 
Benefit obligation at beginning of year
 
$
3,531.9

 
$
3,523.8

Service cost
 
70.8

 
72.1

Interest cost
 
109.0

 
110.2

Employee contributions
 
1.1

 
1.0

Amendments
 
3.8

 
6.2

Actuarial (gains) losses
 
175.8

 
129.6

Benefits paid
 
(194.8
)
 
(203.5
)
Currency translation
 
69.6

 
(89.4
)
Curtailments, settlements and special termination benefits
 
(13.1
)
 
(1.6
)
Other, including expenses paid
 
(11.9
)
 
(16.5
)
Benefit obligation at end of year
 
$
3,742.2

 
$
3,531.9

Change in plan assets:
 
 
 
 
Fair value at beginning of year
 
$
2,797.1

 
$
2,772.0

Actual return on assets
 
326.9

 
274.9

Company contributions
 
101.4

 
56.4

Employee contributions
 
1.1

 
1.0

Benefits paid
 
(194.8
)
 
(203.5
)
Currency translation
 
59.0

 
(85.6
)
Settlements
 
(13.5
)
 
(1.6
)
Other, including expenses paid
 
(14.1
)
 
(16.5
)
Fair value of assets end of year
 
$
3,063.1

 
$
2,797.1

Net unfunded liability
 
$
(679.1
)
 
$
(734.8
)
Amounts included in the balance sheet:
 
 
 
 
Other noncurrent assets
 
$
61.7

 
$
19.2

Accrued compensation and benefits
 
(15.3
)
 
(6.4
)
Postemployment and other benefit liabilities
 
(725.5
)
 
(747.6
)
Net amount recognized
 
$
(679.1
)
 
$
(734.8
)
Schedule of Comprehensive Income (Loss) [Table Text Block] 
The pretax amounts recognized in Accumulated other comprehensive income (loss) are as follows:
In millions
 
Prior service benefit (cost)
 
Net actuarial gains (losses)
 
Total
December 31, 2016
 
$
(25.5
)
 
$
(886.8
)
 
$
(912.3
)
Current year changes recorded to AOCI
 
(3.8
)
 
9.4

 
5.6

Amortization reclassified to earnings
 
3.8

 
56.8

 
60.6

Settlements/curtailments reclassified to earnings (1)
 
4.7

 
3.0

 
7.7

Currency translation and other
 
0.6

 
(15.9
)
 
(15.3
)
December 31, 2017
 
$
(20.2
)
 
$
(833.5
)
 
$
(853.7
)
Schedule of Assumptions Used [Table Text Block] 
Weighted-average assumptions used to determine the benefit obligation at December 31 are as follows:
 
 
2017
 
2016
Discount rate:
 
 
 
 
U.S. plans
 
3.54
%
 
3.97
%
Non-U.S. plans
 
2.29
%
 
2.40
%
Rate of compensation increase:
 
 
 
 
U.S. plans
 
4.00
%
 
4.00
%
Non-U.S. plans
 
4.00
%
 
4.00
%
Weighted-average assumptions used to determine net periodic pension cost for the years ended December 31 are as follows:
 
 
2017
 
2016
 
2015
Discount rate:
 
 
 
 
 
 
U.S. plans
 
 
 
 
 
 
Service cost
 
4.18
%
 
4.25
%
 
3.75
%
Interest cost
 
3.36
%
 
3.29
%
 
3.75
%
Non-U.S. plans
 


 


 


Service cost
 
2.66
%
 
3.05
%
 
3.25
%
Interest cost
 
2.50
%
 
3.18
%
 
3.25
%
Rate of compensation increase:
 
 
 
 
 
 
U.S. plans
 
4.00
%
 
4.00
%
 
4.00
%
Non-U.S. plans
 
4.00
%
 
4.00
%
 
4.00
%
Expected return on plan assets:
 
 
 
 
 
 
U.S. plans
 
5.50
%
 
5.75
%
 
5.75
%
Non-U.S. plans
 
3.25
%
 
3.75
%
 
4.25
%
Schedule of Expected Benefit Payments [Table Text Block] 
Pension benefit payments are expected to be paid as follows:
In millions
  
2018
$
215.2

2019
209.0

2020
218.7

2021
218.4

2022
220.7

2023 — 2027
1,136.9

Schedule of Net Benefit Costs [Table Text Block] 
The components of the Company’s net periodic pension benefit costs for the years ended December 31 include the following:
In millions
 
2017
 
2016
 
2015
Service cost
 
$
70.8

 
$
72.1

 
$
75.2

Interest cost
 
109.0

 
110.2

 
129.5

Expected return on plan assets
 
(141.7
)
 
(146.1
)
 
(158.3
)
Net amortization of:
 
 
 
 
 
 
Prior service costs (benefits)
 
3.8

 
4.7

 
3.2

Plan net actuarial (gains) losses
 
56.8

 
61.6

 
60.7

Net periodic pension benefit cost
 
98.7

 
102.5

 
110.3

Net curtailment, settlement, and special termination benefits (gains) losses
 
5.6

 
2.1

 
0.7

Net periodic pension benefit cost after net curtailment and settlement (gains) losses
 
$
104.3

 
$
104.6

 
$
111.0

Amounts recorded in continuing operations:
 
 
 
 
 
 
   Operating income
 
$
68.2

 
$
69.3

 
$
73.6

   Other income/(expense), net
 
25.4

 
25.5

 
27.1

Amounts recorded in discontinued operations
 
10.7

 
9.8

 
10.3

Total
 
$
104.3

 
$
104.6

 
$
111.0

Schedule of Defined Benefit Plans Disclosures [Table Text Block] 
The fair values of the Company’s pension plan assets at December 31, 2017 by asset category are as follows:
 
 
Fair value measurements
 
Net asset value
 
Total
fair value
In millions
 
Level 1
 
Level 2
 
Level 3
 
 
Cash and cash equivalents
 
$
4.8

 
$
35.4

 
$
—

 
$
—

 
$
40.2

Equity investments:
 
 
 
 
 
 
 
 
 
 
Registered mutual funds – equity specialty
 
—

 
—

 
—

 
77.6

 
77.6

Commingled funds – equity specialty
 
—

 
—

 
—

 
674.7

 
674.7

 
 
—

 
—

 
—

 
752.3

 
752.3

Fixed income investments:
 
 
 
 
 
 
 
 
 
 
U.S. government and agency obligations
 
—

 
517.5

 
—

 
—

 
517.5

Corporate and non-U.S. bonds(a)
 
—

 
1,336.8

 
—

 
—

 
1,336.8

Asset-backed and mortgage-backed securities
 
—

 
69.0

 
—

 
—

 
69.0

Registered mutual funds – fixed income specialty
 
—

 
—

 
—

 
111.0

 
111.0

Commingled funds – fixed income specialty
 
—

 
—

 
—

 
131.8

 
131.8

Other fixed income(b)
 
—

 
—

 
26.3

 
—

 
26.3

 
 
—

 
1,923.3

 
26.3

 
242.8

 
2,192.4

Derivatives
 
—

 
(0.3
)
 
—

 
—

 
(0.3
)
Real estate(c)
 
—

 
—

 
4.9

 
—

 
4.9

Other(d)
 
—

 
—

 
79.0

 
—

 
79.0

Total assets at fair value
 
$
4.8

 
$
1,958.4

 
$
110.2

 
$
995.1

 
$
3,068.5

Receivables and payables, net
 
 
 
 
 
 
 
 
 
(5.4
)
Net assets available for benefits
 
 
 
 
 
 
 
 
 
$
3,063.1

Schedule of Defined Benefit Plans Disclosures [Table Text Block] 
The fair values of the Company’s pension plan assets at December 31, 2016 by asset category are as follows:
 
 
Fair value measurements
 
Net asset value
 
Total
fair value
In millions
 
Level 1
 
Level 2
 
Level 3
 
Cash and cash equivalents
 
$
11.8

 
$
17.0

 
$
—

 
$
—

 
$
28.8

Equity investments:
 
 
 
 
 
 
 
 
 
 
Registered mutual funds – equity specialty
 
—

 
—

 
—

 
73.9

 
73.9

Commingled funds – equity specialty
 
—

 
—

 
—

 
640.8

 
640.8

 
 
—

 
—

 
—

 
714.7

 
714.7

Fixed income investments:
 
 
 
 
 
 
 
 
 
 
U.S. government and agency obligations
 
—

 
460.0

 
—

 
—

 
460.0

Corporate and non-U.S. bonds(a)
 
—

 
1,178.3

 
—

 
—

 
1,178.3

Asset-backed and mortgage-backed securities
 
—

 
74.0

 
—

 
—

 
74.0

Registered mutual funds – fixed income specialty
 
—

 
—

 
—

 
132.4

 
132.4

Commingled funds – fixed income specialty
 
—

 
—

 
—

 
96.0

 
96.0

Other fixed income(b)
 
—

 
—

 
25.4

 
—

 
25.4

 
 
—

 
1,712.3

 
25.4

 
228.4

 
1,966.1

Derivatives
 
—

 
(0.9
)
 
—

 
—

 
(0.9
)
Real estate(c)
 
—

 
—

 
7.3

 
—

 
7.3

Other(d)
 
—

 
—

 
64.3

 
—

 
64.3

Total assets at fair value
 
$
11.8

 
$
1,728.4

 
$
97.0

 
$
943.1

 
$
2,780.3

Receivables and payables, net
 
 
 
 
 
 
 
 
 
16.8

Net assets available for benefits
 
 
 
 
 
 
 
 
 
$
2,797.1

(a)
This class includes state and municipal bonds.
(b)
This class includes group annuity and guaranteed interest contracts.
(c)
This class includes a private equity fund that invests in real estate.
(d)
Schedule of Changes in Projected Benefit Obligations [Table Text Block] 
The following table details changes in the Company’s postretirement plan benefit obligations for the years ended December 31:
In millions
 
2017
 
2016
Benefit obligation at beginning of year
 
$
578.6

 
$
624.1

Service cost
 
3.1

 
3.7

Interest cost
 
15.7

 
17.5

Plan participants’ contributions
 
9.8

 
10.2

Actuarial (gains) losses
 
(30.2
)
 
(24.4
)
Benefits paid, net of Medicare Part D subsidy (1)
 
(55.4
)
 
(55.7
)
Special termination benefits recorded in restructuring
 
5.9

 
—

Other
 
0.5

 
3.2

Benefit obligations at end of year
 
$
528.0

 
$
578.6

(1) Amounts are net of Medicare Part D subsidy of $1.1 million and $2.5 million in 2017 and 2016, respectively
Schedule of Comprehensive Income (Loss) [Table Text Block] 
The pre-tax amounts recognized in Accumulated other comprehensive income (loss) were as follows:
In millions
 
Prior service benefit (cost)
 
Net actuarial gains (losses)
 
Total
Balance at December 31, 2016
 
$
12.7

 
$
0.8

 
$
13.5

Gain (loss) in current period
 
—

 
30.2

 
30.2

Amortization reclassified to earnings
 
(8.6
)
 
0.1

 
(8.5
)
Currency translation and other
 
—

 
(0.1
)
 
(0.1
)
Balance at December 31, 2017
 
$
4.1

 
$
31.0

 
$
35.1

Schedule of Assumptions Used [Table Text Block] 
 
 
2017
 
2016
 
2015
Discount rate:
 
 
 
 
 
 
Benefit obligations at December 31
 
3.38
%
 
3.73
%
 
3.88
%
Net periodic benefit cost
 
 
 
 
 
 
Service cost
 
3.82
%
 
3.97
%
 
3.50
%
Interest cost
 
2.99
%
 
2.99
%
 
3.50
%
Assumed health-care cost trend rates at December 31:
 
 
 
 
 
 
Current year medical inflation
 
6.85
%
 
7.25
%
 
7.25
%
Ultimate inflation rate
 
5.00
%
 
5.00
%
 
5.00
%
Year that the rate reaches the ultimate trend rate
 
2023

 
2023

 
2023

Schedule of Expected Benefit Payments [Table Text Block] 
Benefit payments for postretirement benefits, which are net of expected plan participant contributions and Medicare Part D subsidy, are expected to be paid as follows:
In millions
  
2018
$
49.4

2019
47.7

2020
45.8

2021
44.3

2022
42.3

2023 — 2026
178.7

Schedule of Net Funded Status [Table Text Block] 
The benefit plan obligations are reflected in the Consolidated Balance Sheets as follows:
In millions
 
December 31, 2017
 
December 31, 2016
Accrued compensation and benefits
 
$
(48.5
)
 
$
(53.3
)
Postemployment and other benefit liabilities
 
(479.5
)
 
(525.3
)
Total
 
$
(528.0
)
 
$
(578.6
)
Schedule of Costs of Retirement Plans [Table Text Block] 
The components of net periodic postretirement benefit (income) cost for the years ended December 31 were as follows:
In millions
 
2017
 
2016
 
2015
Service cost
 
$
3.1

 
$
3.7

 
$
4.4

Interest cost
 
15.7

 
17.5

 
22.6

Net amortization of:
 
 
 
 
 
 
Prior service costs (benefits)
 
(8.6
)
 
(8.9
)
 
(8.9
)
Net actuarial (gains) losses
 
0.1

 
0.1

 
0.1

Net periodic postretirement benefit cost
 
$
10.3

 
$
12.4

 
$
18.2

Amounts recorded in continuing operations:
 


 


 


   Operating income
 
$
3.1

 
$
3.7

 
$
4.4

   Other income/(expense), net
 
5.6

 
4.6

 
6.6

Amounts recorded in discontinued operations
 
1.6

 
4.1

 
7.2

Total
 
$
10.3

 
$
12.4

 
$
18.2

Schedule of Effect of One-Percentage-Point Change in Assumed Health Care Cost Trend Rates [Table Text Block] 
A 1% change in the assumed medical trend rate would have the following effects as of and for the year ended December 31, 2017:
In millions
 
1%
Increase
 
1%
Decrease
Effect on total of service and interest cost components of current year benefit cost
 
$
0.7

 
$
(0.6
)
Effect on benefit obligation at year-end
 
18.5

 
(16.1
)
Equity (Tables)
Reconciliation of Ordinary Shares 
The changes in ordinary shares and treasury shares for the year ended December 31, 2017 are as follows:
In millions
Ordinary shares issued
 
Ordinary shares held in treasury
December 31, 2016
271.7

 
12.7

Shares issued under incentive plans
2.3

 
—

Repurchase of ordinary shares
—

 
11.8

December 31, 2017
274.0

 
24.5

Components of Accumulated Other Comprehensive Income (Loss) 
The changes in Accumulated other comprehensive income (loss) are as follows:
In millions
 
Derivative Instruments
 
Pension and OPEB Items
 
Foreign Currency Translation
 
Total
December 31, 2015
 
$
5.1

 
$
(630.4
)
 
$
(495.6
)
 
$
(1,120.9
)
Other comprehensive income (loss) attributable to Ingersoll-Rand plc
 
(2.2
)
 
76.0

 
(243.4
)
 
(169.6
)
December 31, 2016
 
$
2.9

 
$
(554.4
)
 
$
(739.0
)
 
$
(1,290.5
)
Other comprehensive income (loss) attributable to Ingersoll-Rand plc
 
1.8

 
60.1

 
449.8

 
511.7

December 31, 2017
 
$
4.7

 
$
(494.3
)
 
$
(289.2
)
 
$
(778.8
)
Other Comprehensive Income, Noncontrolling Interest [Text Block] 
The amounts of Other comprehensive income (loss) attributable to noncontrolling interests for 2017, 2016 and 2015 were $0.5 million, $9.6 million and ($4.3 million), respectively, related to currency translation.
Share-Based Compensation (Tables)
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block] 
The following table summarizes the expenses recognized:
In millions
 
2017
 
2016
 
2015
Stock options
 
$
19.5

 
$
18.1

 
$
16.3

RSUs
 
26.4

 
26.3

 
24.7

PSUs
 
23.0

 
19.9

 
20.5

Deferred compensation
 
3.1

 
3.2

 
1.7

Other
 
1.6

 
2.1

 
(0.5
)
Pre-tax expense
 
73.6

 
69.6

 
62.7

Tax benefit
 
28.2

 
26.6

 
24.0

After-tax expense
 
$
45.4

 
$
43.0

 
$
38.7

Amounts recorded in continuing operations
 
$
45.4

 
$
43.0

 
$
38.7

Amounts recorded in discontinued operations
 
—

 
—

 
—

Total
 
$
45.4

 
$
43.0

 
$
38.7

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] 
The following assumptions were used:
 
 
2017
 
2016
Dividend yield
 
2.00
%
 
2.55
%
Volatility
 
22.46
%
 
28.60
%
Risk-free rate of return
 
1.80
%
 
1.12
%
Expected life in years
 
4.8

 
4.8

Share-based Compensation, Stock Options, Activity [Table Text Block] 
Changes in options outstanding under the plans for the years 2017, 2016 and 2015 are as follows:
 
 
Shares
subject
to option
 
Weighted-
average
exercise price
 
Aggregate
intrinsic
value (millions)
 
Weighted-
average
remaining life (years)
December 31, 2014
 
7,502,613

 
$
36.21

 
 
 
 
Granted
 
1,457,523

 
66.25

 
 
 
 
Exercised
 
(1,968,725
)
 
31.33

 
 
 
 
Cancelled
 
(155,382
)
 
61.03

 
 
 
 
December 31, 2015
 
6,836,029

 
43.46

 
 
 
 
Granted
 
1,958,476

 
50.04

 
 
 
 
Exercised
 
(1,854,058
)
 
33.71

 
 
 
 
Cancelled
 
(93,552
)
 
56.22

 
 
 
 
December 31, 2016
 
6,846,895

 
47.81

 
 
 
 
Granted
 
1,518,335

 
80.27

 
 
 
 
Exercised
 
(1,789,615
)
 
42.79

 
 
 
 
Cancelled
 
(220,733
)
 
61.91

 
 
 
 
Outstanding December 31, 2017
 
6,354,882

 
$
56.49

 
$
207.8

 
6.6
Exercisable December 31, 2017
 
3,287,183

 
$
47.05

 
$
138.5

 
5.1
Share-based Compensation, Activity [Table Text Block] 
The following table summarizes information concerning currently outstanding and exercisable options:
  
 
 
 
 
 
Options outstanding
 
Options exercisable
Range of
exercise price
 
Number
outstanding at
December 31,
2017
 
Weighted-
average
remaining
life (years)
 
Weighted-
average
exercise
price
 
Number
outstanding at
December 31,
2017
 
Weighted-
average
remaining
life (years)
 
Weighted-
average
exercise
price
$
10.01

 
—
 
$
20.00

 
114,014

 
1.1
 
$
13.41

 
114,014

 
1.1
 
$
13.41

20.01

 
—
 
30.00

 
192,486

 
2.4
 
25.50

 
192,486

 
2.4
 
25.50

30.01

 
—
 
40.00

 
766,181

 
3.2
 
34.24

 
766,181

 
3.2
 
34.24

40.01

 
—
 
50.00

 
2,191,425

 
7.1
 
47.84

 
994,766

 
6.0
 
45.24

50.01

 
—
 
60.00

 
683,184

 
5.9
 
59.60

 
662,087

 
5.9
 
59.72

60.01

 
—
 
70.00

 
944,661

 
6.8
 
67.05

 
553,808

 
6.7
 
67.09

70.01

 
—
 
80.00

 
14,031

 
9.0
 
75.67

 
—

 
0.0
 
—

80.01

 

 
90.00

 
1,448,900

 
9.0
 
80.31

 
3,841

 
2.6
 
80.21

$
10.74

 
—
 
$
88.46

 
6,354,882

 
6.6
 
$
56.49

 
3,287,183

 
5.1
 
$
47.05

Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] 
The following table summarizes RSU activity for the years 2017, 2016 and 2015:
 
 
RSUs
 
Weighted-
average grant
date fair value
Outstanding and unvested at December 31, 2014
 
1,047,749

 
$
47.60

Granted
 
429,828

 
66.42

Vested
 
(510,600
)
 
43.32

Cancelled
 
(44,366
)
 
59.98

Outstanding and unvested at December 31, 2015
 
922,611

 
$
58.14

Granted
 
486,401

 
51.28

Vested
 
(545,437
)
 
53.84

Cancelled
 
(27,826
)
 
58.19

Outstanding and unvested at December 31, 2016
 
835,749

 
$
56.95

Granted
 
372,443

 
81.09

Vested
 
(370,397
)
 
58.56

Cancelled
 
(34,096
)
 
63.79

Outstanding and unvested at December 31, 2017
 
803,699

 
$
67.09

Schedule of Share-based Compensation, Performance Shares [Table Text Block] 
The following table summarizes PSU activity for the maximum number of shares that may be issued for the years 2017, 2016 and 2015:
 
 
PSUs
 
Weighted-average grant date fair value
Outstanding and unvested at December 31, 2014
 
1,784,998

 
$
50.12

Granted
 
456,592

 
79.09

Vested
 
(723,250
)
 
41.03

Forfeited
 
(70,108
)
 
62.76

Outstanding and unvested at December 31, 2015
 
1,448,232

 
$
63.18

Granted
 
597,088

 
53.82

Vested
 
(462,035
)
 
46.81

Forfeited
 
(159,489
)
 
56.25

Outstanding and unvested at December 31, 2016
 
1,423,796

 
$
65.34

Granted
 
419,404

 
93.68

Vested
 
(353,834
)
 
65.35

Forfeited
 
(124,830
)
 
73.40

Outstanding and unvested at December 31, 2017
 
1,364,536

 
$
73.31

Restructuring Activities (Tables)
Schedule of Restructuring Charges Recorded 
. The following table details restructuring charges recorded during the years ended December 31 were as follows:
In millions
 
2017
 
2016
 
2015
Climate
 
$
42.3

 
$
6.2

 
$
11.9

Industrial
 
14.5

 
20.5

 
15.6

Corporate and Other
 
4.9

 
8.8

 
6.6

Total
 
$
61.7

 
$
35.5

 
$
34.1

 
 
 
 
 
 
 
Cost of goods sold
 
$
46.8

 
$
9.8

 
$
12.5

Selling and administrative expenses
 
14.9

 
25.7

 
21.6

Total
 
$
61.7

 
$
35.5

 
$
34.1

Schedule of Changes in Restructuring Reserve 
The changes in the restructuring reserve were as follows:
In millions
 
Climate
 
Industrial
 
Corporate
and Other
 
Total
December 31, 2015
 
$
3.7

 
$
1.9

 
$
0.2

 
$
5.8

Additions, net of reversals (1)
 
6.8

 
20.5

 
2.8

 
30.1

Cash paid
 
(7.1
)
 
(18.1
)
 
(2.4
)
 
(27.6
)
December 31, 2016
 
3.4

 
4.3

 
0.6

 
8.3

Additions, net of reversals (2)
 
25.6

 
14.5

 
4.9

 
45.0

Cash paid/Other
 
(21.6
)
 
(12.7
)
 
(3.0
)
 
(37.3
)
December 31, 2017
 
$
7.4

 
$
6.1

 
$
2.5

 
$
16.0


Other, Net (Tables)
Other Income and Other Expense Disclosure [Text Block] 
The components of Other income/(expense), net for the years ended December 31, 2017, 2016 and 2015 are as follows:
In millions
 
2017
 
2016
 
2015
Interest income
 
$
9.4

 
$
8.0

 
$
10.6

Exchange gain (loss)
 
(8.8
)
 
(2.0
)
 
(36.2
)
Other components of net periodic benefit cost
 
(31.0
)
 
(30.1
)
 
(33.7
)
Income (loss) from equity investment
 
—

 
(0.8
)
 
12.6

Gain on sale of Hussmann equity investment
 
—

 
397.8

 
—

Other activity, net
 
(1.2
)
 
(13.3
)
 
25.9

Other income/(expense), net
 
$
(31.6
)
 
$
359.6

 
$
(20.8
)

Other income /(expense), net includes the results from activities other than normal business operations such as interest income and foreign currency gains and losses on transactions that are denominated in a currency other than an entity’s functional currency. In addition, the Company includes the components of net periodic benefit cost for pension and post retirement obligations other than the service cost component as a result of the adoption of ASU 2017-07. Other activity, net include costs associated with Trane U.S. Inc. (Trane) for the settlement and defense of asbestos-related claims, insurance settlements on asbestos-related matters and the revaluation of its liability for potential future claims. Refer to Note 19, "Commitments and Contingencies," for more information regarding asbestos-related matters. In addition, other activity, net for the year ended December 31, 2016 includes $16.4 million for the settlement of a lawsuit originally filed by a customer in 2012. The lawsuit related to a commercial HVAC contract entered into in 2001, prior to our acquisition of Trane. The charge represents the settlement and related legal costs recognized during 2016.
During the year ended December 31, 2015, the Company recognized a loss on foreign currency exchange of $36.2 million. This loss is comprised of a $42.6 million pre-tax charge related to the remeasurement of net monetary assets denominated in Venezuelan bolivar. This loss was partially offset by $6.4 million of foreign currency transaction gains resulting from the remeasurement of non-functional balance sheet positions into their functional currency.
Sale of Hussmann Equity Investment
During 2011, the Company completed the sale of a controlling interest of its Hussmann refrigerated display case business (Hussmann) to a newly-formed affiliate of private equity firm Clayton Dubilier & Rice, LLC (CD&R).  Per the terms of the agreement, CD&R’s ownership interest in Hussmann at the acquisition date was 60% with the remaining 40% being retained by the Company.  As a result, the Company accounted for its interest in Hussmann using the equity method of accounting.
On December 21, 2015, the Company announced it would sell its remaining equity interest in Hussmann as part of a transaction in which Panasonic Corporation would acquire 100 percent of Hussmann's outstanding shares. The transaction was completed on April 1, 2016. The Company received net proceeds of $422.5 million, for its interest and recognized a gain of $397.8 million on the sale.
Other, Net 
The components of Other income/(expense), net for the years ended December 31, 2017, 2016 and 2015 are as follows:
In millions
 
2017
 
2016
 
2015
Interest income
 
$
9.4

 
$
8.0

 
$
10.6

Exchange gain (loss)
 
(8.8
)
 
(2.0
)
 
(36.2
)
Other components of net periodic benefit cost
 
(31.0
)
 
(30.1
)
 
(33.7
)
Income (loss) from equity investment
 
—

 
(0.8
)
 
12.6

Gain on sale of Hussmann equity investment
 
—

 
397.8

 
—

Other activity, net
 
(1.2
)
 
(13.3
)
 
25.9

Other income/(expense), net
 
$
(31.6
)
 
$
359.6

 
$
(20.8
)
Income Taxes (Tables)
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] 
Earnings before income taxes for the years ended December 31 were taxed within the following jurisdictions:
In millions
 
2017
 
2016
 
2015
United States (1)
 
$
(17.6
)
 
$
419.8

 
$
451.6

Non-U.S.
 
1,435.5

 
1,321.5

 
796.3

Total
 
$
1,417.9

 
$
1,741.3

 
$
1,247.9

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] 
The components of the Provision for income taxes for the years ended December 31 were as follows:
In millions
 
2017
 
2016
 
2015
Current tax expense (benefit):
 
 
 
 
 
 
United States
 
$
102.2

 
$
179.6

 
$
300.1

Non-U.S.
 
95.4

 
135.7

 
132.9

Total:
 
197.6

 
315.3

 
433.0

Deferred tax expense (benefit):
 
 
 
 
 
 
United States
 
(234.7
)
 
(6.7
)
 
69.0

Non-U.S.
 
117.3

 
(27.1
)
 
38.8

Total:
 
(117.4
)
 
(33.8
)
 
107.8

Total tax expense (benefit):
 
 
 
 
 
 
United States
 
(132.5
)
 
172.9

 
369.1

Non-U.S.
 
212.7

 
108.6

 
171.7

Total
 
$
80.2

 
$
281.5

 
$
540.8

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] 
The Provision for income taxes differs from the amount of income taxes determined by applying the applicable U.S. statutory income tax rate to pretax income, as a result of the following differences:
 
 
Percent of pretax income
 
 
2017
 
2016
 
2015
Statutory U.S. rate
 
35.0
 %
 
35.0
 %
 
35.0
 %
Increase (decrease) in rates resulting from:
 
 
 
 
 
 
Non-U.S. tax rate differential (a)
 
(28.8
)
 
(14.7
)
 
(17.2
)
Tax on U.S. subsidiaries on non-U.S. earnings
 
0.8

 
0.9

 
1.3

State and local income taxes (b)
 
1.2

 
1.4

 
1.5

Valuation allowances (c)
 
2.8

 
0.1

 
1.7

Change in permanent reinvestment assertion (d), (f)
 
8.4

 
—

 
3.9

Transition tax (f)
 
11.3

 
—

 
—

Remeasurement of deferred tax balances (f)
 
(21.2
)
 
—

 
—

Stock based compensation
 
(1.7
)
 
—

 
—

Reserves for uncertain tax positions
 
(0.9
)
 
0.1

 
14.1

Hussmann gain (e)
 
—

 
(5.7
)
 
—

Provision to return and other true-up adjustments
 
(1.7
)
 
(0.6
)
 
0.7

Other adjustments
 
0.5

 
(0.3
)
 
2.3

Effective tax rate
 
5.7
 %
 
16.2
 %
 
43.3
 %
(a)
Amount reported in 2017 includes the impact of a premium paid of approximately $520 million related to the early retirement of certain intercompany debt obligations
(b)
Net of changes in state valuation allowances
(c)
Primarily federal and non-U.S., excludes state valuation allowances
(d)
Net of foreign tax credits
(e)
Gain from sale of Hussmann equity investment
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] 
A summary of the deferred tax accounts at December 31 are as follows:
In millions
 
2017
 
2016
Deferred tax assets:
 
 
 
 
Inventory and accounts receivable
 
$
17.4

 
$
18.2

Fixed assets and intangibles
 
10.4

 
16.2

Postemployment and other benefit liabilities
 
396.5

 
652.5

Product liability
 
95.4

 
151.3

Other reserves and accruals
 
134.8

 
192.8

Net operating losses and credit carryforwards
 
589.0

 
528.5

Other
 
22.7

 
38.6

Gross deferred tax assets
 
1,266.2

 
1,598.1

Less: deferred tax valuation allowances
 
(344.6
)
 
(184.5
)
Deferred tax assets net of valuation allowances
 
$
921.6

 
$
1,413.6

Deferred tax liabilities:
 
 
 
 
Inventory and accounts receivable
 
$
(24.1
)
 
$
(38.8
)
Fixed assets and intangibles
 
(1,237.4
)
 
(1,949.7
)
Postemployment and other benefit liabilities
 
(9.6
)
 
(7.0
)
Other reserves and accruals
 
(1.5
)
 
(1.9
)
Product liability
 
(1.4
)
 
—

Undistributed earnings
 
(137.7
)
 
(24.0
)
Other
 
(11.1
)
 
(8.4
)
Gross deferred tax liabilities
 
(1,422.8
)
 
(2,029.8
)
Net deferred tax assets (liabilities)
 
$
(501.2
)
 
$
(616.2
)
Summary of Tax Credit Carryforwards [Table Text Block] 
At December 31, 2017, the Company had the following operating loss and tax credit carryforwards available to offset taxable income in prior and future years:
In millions
 
Amount
 
Expiration
Period
U.S. Federal net operating loss carryforwards
 
$
680.0

 
2018-2036
U.S. Federal credit carryforwards
 
121.5

 
2022-Unlimited
U.S. State net operating loss carryforwards
 
3,484.2

 
2018-2037
U.S. State credit carryforwards
 
34.7

 
2018-Unlimited
Non-U.S. net operating loss carryforwards
 
752.0

 
2018-Unlimited
Non-U.S. credit carryforwards
 
8.0

 
Unlimited
Summary of Valuation Allowance 
Activity associated with the Company’s valuation allowance is as follows:
In millions
 
2017
 
2016
 
2015
Beginning balance
 
$
184.5

 
$
213.1

 
$
210.7

Increase to valuation allowance
 
176.5

 
19.4

 
40.7

Decrease to valuation allowance
 
(19.1
)
 
(43.5
)
 
(34.0
)
Accumulated other comprehensive income (loss)
 
2.7

 
(4.5
)
 
(4.3
)
Ending balance
 
$
344.6

 
$
184.5

 
$
213.1

Summary of Unrecognized Tax Benefits 
A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
In millions
 
2017
 
2016
 
2015
Beginning balance
 
$
107.1

 
$
174.9

 
$
343.8

Additions based on tax positions related to the current year
 
6.2

 
5.9

 
8.7

Additions based on tax positions related to prior years
 
16.8

 
29.1

 
186.5

Reductions based on tax positions related to prior years
 
(8.6
)
 
(37.6
)
 
(102.2
)
Reductions related to settlements with tax authorities
 
(4.8
)
 
(60.9
)
 
(251.0
)
Reductions related to lapses of statute of limitations
 
(1.3
)
 
(2.8
)
 
(3.7
)
Translation (gain) loss
 
5.1

 
(1.5
)
 
(7.2
)
Ending balance
 
$
120.5

 
$
107.1

 
$
174.9

Divestitures (Tables)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Summarized Financial Information For Discontinued Operations Text Block [Table Text Block]
Text Block 
 
Allegion [Member]
 
 
discontinued operations by business net of tax [Table Text Block]
Text Block 
 
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]
 
Text Block 
Summarized Financial Information For Discontinued Operations Text Block [Table Text Block] 
Divestitures
The Company has retained costs from
discontinued operations by business net of tax [Table Text Block] 

Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] 
.
Earnings Per Share (EPS) (Tables)
Weighted-Average Number of Ordinary Shares Outstanding for Basic and Diluted Earnings Per Share Calculations
The following table summarizes the weighted-average number of ordinary shares outstanding for basic and diluted earnings per share calculations:
In millions
 
2017
 
2016
 
2015
Weighted-average number of basic shares outstanding
 
254.9

 
259.2

 
265.1

Shares issuable under incentive stock plans
 
3.2

 
2.5

 
2.7

Weighted-average number of diluted shares outstanding
 
258.1

 
261.7

 
267.8

Anti-dilutive shares
 
1.6

 
1.2

 
2.1

Commitments and Contingencies (Tables)
Schedule Of Asbestos Related Balances [Table Text Block] 
The Company’s liability for asbestos-related matters and the asset for probable asbestos-related insurance recoveries are included in the following balance sheet accounts:
In millions
December 31,
2017
 
December 31,
2016
Accrued expenses and other current liabilities
$
48.2

 
$
61.5

Other noncurrent liabilities
556.6

 
569.7

Total asbestos-related liabilities
$
604.8

 
$
631.2

 
 
 
 
Other current assets
$
56.1

 
$
54.0

Other noncurrent assets
210.3

 
218.5

Total asset for probable asbestos-related insurance recoveries
$
266.4

 
$
272.5

Cost Income Asbestos Related Claims After Recoveries [Text Block] [Table Text Block] 
The income (expense) associated with these transactions for the years ended December 31, were as follows:
In millions
 
2017
 
2016
 
2015
Continuing operations
 
$
(3.1
)
 
$
2.7

 
$
21.0

Discontinued operations
 
(11.9
)
 
46.3

 
(8.8
)
Total
 
$
(15.0
)
 
$
49.0

 
$
12.2

Schedule of Product Warranty Liability [Table Text Block] 
The changes in the standard product warranty liability for the year ended December 31, were as follows:
In millions
2017
 
2016
Balance at beginning of period
$
261.6

 
$
262.0

Reductions for payments
(140.5
)
 
(142.3
)
Accruals for warranties issued during the current period
141.9

 
141.4

Changes to accruals related to preexisting warranties
2.2

 
2.5

Translation
5.3

 
(2.0
)
Balance at end of period
$
270.5

 
$
261.6

Schedule of Product Warranty Liability [Table Text Block] 
The changes in the extended warranty liability for the year ended December 31, were as follows:
In millions
2017
 
2016
Balance at beginning of period
$
295.9

 
$
311.6

Amortization of deferred revenue for the period
(107.2
)
 
(111.0
)
Additions for extended warranties issued during the period
100.8

 
97.3

Changes to accruals related to preexisting warranties
1.3

 
(1.7
)
Translation
2.2

 
(0.3
)
Balance at end of period
$
293.0

 
$
295.9

Business Segment Information (Tables)
Schedule of Segment Reporting Information by Segment 
A summary of operations by reportable segments for the years ended December 31 were as follows:
Dollar amounts in millions
 
2017
 
2016
 
2015
Climate
 
 
 
 
 
 
Net revenues
 
$
11,167.5

 
$
10,545.0

 
$
10,224.3

Segment operating income
 
1,572.7

 
1,537.5

 
1,314.4

Segment operating income as a percentage of revenues
 
14.1
%
 
14.6
%
 
12.9
%
Depreciation and amortization
 
247.6

 
225.2

 
246.3

Capital expenditures
 
103.8

 
78.2

 
83.9

Industrial
 
 
 
 
 
 
Net revenues
 
3,030.1

 
2,963.9

 
3,076.4

Segment operating income
 
357.6

 
300.3

 
378.3

Segment operating income as a percentage of revenues
 
11.8
%
 
10.1
%
 
12.3
%
Depreciation and amortization
 
77.3

 
67.2

 
67.5

Capital expenditures
 
57.4

 
36.3

 
51.8

 
 
 
 
 
 
 
Total net revenues
 
$
14,197.6

 
$
13,508.9

 
$
13,300.7

 
 
 
 
 
 
 
Reconciliation to Operating Income
 
 
 
 
 
 
Segment operating income from reportable segments
 
1,930.3

 
1,837.8

 
1,692.7

Unallocated corporate expense
 
(265.0
)
 
(234.6
)
 
(201.0
)
Total operating income
 
$
1,665.3

 
$
1,603.2

 
$
1,491.7

Total operating income as a percentage of revenues
 
11.7
%
 
11.9
%
 
11.2
%
Depreciation and Amortization
 
 
 
 
 
 
Depreciation and amortization from reportable segments
 
324.9

 
292.4

 
313.8

Unallocated depreciation and amortization
 
28.4

 
59.8

 
50.3

Total depreciation and amortization
 
$
353.3


$
352.2


$
364.1

Capital Expenditures
 
 
 
 
 
 
Capital expenditures from reportable segments
 
161.2

 
114.5

 
135.7

Corporate capital expenditures
 
60.1

 
68.2

 
113.9

Total capital expenditures
 
$
221.3

 
$
182.7

 
$
249.6

Revenue from External Customers by Geographic Areas [Table Text Block] 
A summary of Net revenues by destination and by major product/solution for the years ended December 31 were as follows:
In millions
 
2017
 
2016
 
2015
United States
 
$
9,215.3

 
$
8,720.7

 
$
8,291.2

Non-U.S.
 
4,982.3

 
4,788.2

 
5,009.5

Total
 
$
14,197.6

 
$
13,508.9

 
$
13,300.7

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] 
At December 31, summary of long-lived assets by geographic area were as follows:
In millions
 
2017

2016
United States
 
$
984.8

 
$
2,040.7

Non-U.S.
 
1,651.8

 
603.1

Total
 
$
2,636.6

 
$
2,643.8

Revenue from External Customers by Products and Services [Table Text Block] 
In millions
 
2017
 
2016
 
2015
Commercial HVAC
 
$
6,849.4

 
$
6,479.4

 
$
6,233.8

Transport Refrigeration
 
2,090.7

 
2,050.1

 
2,147.8

Residential HVAC
 
2,227.4

 
2,015.5

 
1,842.6

Compression Technologies and Services
 
1,889.2

 
1,885.1

 
1,932.5

Other Industrial
 
1,140.9

 
1,078.8

 
1,144.0

Total
 
$
14,197.6

 
$
13,508.9

 
$
13,300.7

Guarantor Financial Information Guarantor Financial Statements (Tables)
Condensed Financial Statements
Condensed Consolidating Statement of Comprehensive Income
For the year ended December 31, 2017

In millions
Plc
 
Irish Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
Net revenues
$
—

 
$
—

 
$
—

 
$
—

 
$
1,336.6

 
$
—

 
$
13,216.7

 
$
(355.7
)
 
$
14,197.6

Cost of goods sold
—

 
—

 
—

 
—

 
(957.9
)
 
—

 
(9,209.4
)
 
355.7

 
(9,811.6
)
Selling and administrative expenses
(15.6
)
 
—

 
(0.1
)
 
(1.2
)
 
(401.7
)
 
(0.2
)
 
(2,301.9
)
 
—

 
(2,720.7
)
Operating income (loss)
(15.6
)

—


(0.1
)

(1.2
)

(23.0
)

(0.2
)

1,705.4


—


1,665.3

Equity earnings (loss) in subsidiaries, net of tax
1,349.2

 
1,334.7

 
982.3

 
565.3

 
1,212.5

 
107.9

 
—

 
(5,551.9
)
 
—

Interest expense
—

 
—

 
—

 
(127.0
)
 
(47.2
)
 
(41.0
)
 
(0.6
)
 
—

 
(215.8
)
Intercompany interest and fees
(33.1
)
 
—

 
253.0

 
(493.9
)
 
(500.9
)
 
(8.2
)
 
783.1

 
—

 
—

Other income/(expense), net
—

 
—

 
0.1

 
—

 
(5.8
)
 
—

 
(25.9
)
 
—

 
(31.6
)
Earnings (loss) before income taxes
1,300.5


1,334.7


1,235.3


(56.8
)

635.6


58.5


2,462.0


(5,551.9
)

1,417.9

Benefit (provision) for income taxes
2.1

 
—

 
—

 
247.2

 
(42.4
)
 
—

 
(287.1
)
 
—

 
(80.2
)
Earnings (loss) from continuing operations
1,302.6


1,334.7


1,235.3


190.4


593.2


58.5


2,174.9


(5,551.9
)

1,337.7

Gain (loss) from discontinued operations, net of tax
—

 
—

 
—

 
—

 
(27.9
)
 
—

 
2.5

 
—

 
(25.4
)
Net earnings (loss)
1,302.6


1,334.7


1,235.3


190.4


565.3


58.5


2,177.4


(5,551.9
)

1,312.3

Less: Net earnings attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(9.7
)
 
—

 
(9.7
)
Net earnings attributable to Ingersoll-Rand plc
$
1,302.6


$
1,334.7


$
1,235.3


$
190.4


$
565.3


$
58.5


$
2,167.7


$
(5,551.9
)

$
1,302.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
511.7

 
510.3

 
472.5

 
369.3

 
368.8

 
102.1

 
499.0

 
(2,322.0
)
 
511.7

Comprehensive income attributable to Ingersoll-Rand plc
$
1,814.3

 
$
1,845.0

 
$
1,707.8

 
$
559.7

 
$
934.1

 
$
160.6

 
$
2,666.7

 
$
(7,873.9
)
 
$
1,814.3

Condensed Consolidating Statement of Comprehensive Income
For the year ended December 31, 2016

In millions
Plc
 
Irish Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
Net revenues
$
—

 
$
—

 
$
—

 
$
—

 
$
1,327.2

 
$
—

 
$
12,533.9

 
$
(352.2
)
 
$
13,508.9

Cost of goods sold
—

 
—

 
—

 
—

 
(982.2
)
 
—

 
(8,677.9
)
 
352.2

 
(9,307.9
)
Selling and administrative expenses
(16.9
)
 
—

 
(0.2
)
 
(0.1
)
 
(352.5
)
 
(0.5
)
 
(2,227.6
)
 
—

 
(2,597.8
)
Operating income (loss)
(16.9
)

—


(0.2
)

(0.1
)

(7.5
)

(0.5
)

1,628.4


—


1,603.2

Equity earnings (loss) in subsidiaries, net of tax
1,559.7

 
1,544.0

 
1,463.4

 
609.4

 
808.7

 
1,521.1

 
—

 
(7,506.3
)
 
—

Interest expense
—

 
—

 
—

 
(127.0
)
 
(47.9
)
 
(42.6
)
 
(4.0
)
 
—

 
(221.5
)
Intercompany interest and fees
(69.2
)
 
—

 
(46.4
)
 
(164.5
)
 
(277.2
)
 
(6.8
)
 
564.1

 
—

 
—

Other income/(expense), net
0.9

 
—

 
—

 
—

 
(13.8
)
 
—

 
372.5

 
—

 
359.6

Earnings (loss) before income taxes
1,474.5


1,544.0


1,416.8


317.8


462.3


1,471.2


2,561.0


(7,506.3
)

1,741.3

Benefit (provision) for income taxes
1.7

 
—

 
3.0

 
115.6

 
117.3

 
—

 
(519.1
)
 
—

 
(281.5
)
Earnings (loss) from continuing operations
1,476.2


1,544.0


1,419.8


433.4


579.6


1,471.2


2,041.9


(7,506.3
)

1,459.8

Gain (loss) from discontinued operations, net of tax
—

 
—

 
—

 
—

 
30.4

 
—

 
2.5

 
—

 
32.9

Net earnings (loss)
1,476.2


1,544.0


1,419.8


433.4


610.0


1,471.2


2,044.4


(7,506.3
)

1,492.7

Less: Net earnings attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(16.5
)
 
—

 
(16.5
)
Net earnings attributable to Ingersoll-Rand plc
$
1,476.2


$
1,544.0


$
1,419.8


$
433.4


$
610.0


$
1,471.2


$
2,027.9


$
(7,506.3
)

$
1,476.2

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
(169.6
)
 
(168.5
)
 
(166.8
)
 
(161.1
)
 
(161.5
)
 
5.0

 
33.3

 
619.6

 
(169.6
)
Comprehensive income attributable to Ingersoll-Rand plc
$
1,306.6

 
$
1,375.5

 
$
1,253.0

 
$
272.3

 
$
448.5

 
$
1,476.2

 
$
2,061.2

 
$
(6,886.7
)
 
$
1,306.6



Condensed Consolidating Statement of Comprehensive Income
For the year ended December 31, 2015

In millions
Plc
 
Irish Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
Net revenues
$
—

 
$
—

 
$
—

 
$
—

 
$
1,427.9

 
$
—

 
$
12,259.0

 
$
(386.2
)
 
$
13,300.7

Cost of goods sold
—

 
—

 
—

 
—

 
(1,031.7
)
 
—

 
(8,631.9
)
 
386.2

 
(9,277.4
)
Selling and administrative expenses
(18.9
)
 
—

 
(0.1
)
 
(0.1
)
 
(303.5
)
 
(0.6
)
 
(2,208.4
)
 
—

 
(2,531.6
)
Operating income (loss)
(18.9
)

—


(0.1
)

(0.1
)

92.7


(0.6
)

1,418.7


—


1,491.7

Equity earnings (loss) in subsidiaries, net of tax
706.8

 
710.6

 
570.6

 
301.7

 
693.7

 
359.2

 
—

 
(3,342.6
)
 
—

Interest expense
—

 
—

 
—

 
(127.6
)
 
(48.3
)
 
(42.8
)
 
(4.3
)
 
—

 
(223.0
)
Intercompany interest and fees
(26.7
)
 
(0.2
)
 
(21.4
)
 
(28.6
)
 
(270.6
)
 
(2.4
)
 
349.9

 
—

 
—

Other income/(expense), net
1.4

 
—

 
0.1

 
—

 
(9.1
)
 
—

 
(13.2
)
 
—

 
(20.8
)
Earnings (loss) before income taxes
662.6


710.4


549.2


145.4


458.4


313.4


1,751.1


(3,342.6
)

1,247.9

Benefit (provision) for income taxes
2.0

 
—

 
(9.1
)
 
58.0

 
(125.5
)
 
—

 
(466.2
)
 
—

 
(540.8
)
Earnings (loss) from continuing operations
664.6


710.4


540.1


203.4


332.9


313.4


1,284.9


(3,342.6
)

707.1

Gain (loss) from discontinued operations, net of tax
—

 
—

 
—

 
—

 
(31.4
)
 
—

 
7.1

 
—

 
(24.3
)
Net earnings (loss)
664.6


710.4


540.1


203.4


301.5


313.4


1,292.0


(3,342.6
)

682.8

Less: Net earnings attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(18.2
)
 
—

 
(18.2
)
Net earnings attributable to Ingersoll-Rand plc
$
664.6


$
710.4


$
540.1


$
203.4


$
301.5


$
313.4


$
1,273.8


$
(3,342.6
)

$
664.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
(406.6
)
 
(406.0
)
 
(229.1
)
 
(91.4
)
 
(91.9
)
 
(88.0
)
 
(411.7
)
 
1,318.1

 
(406.6
)
Comprehensive income attributable to Ingersoll-Rand plc
$
258.0


$
304.4


$
311.0


$
112.0


$
209.6


$
225.4


$
862.1


$
(2,024.5
)

$
258.0


Condensed Consolidating Balance Sheet
December 31, 2017

In millions
Plc
 
Irish Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
—

 
$
0.6

 
$
—

 
$
359.3

 
$
—

 
$
1,189.5

 
$
—

 
$
1,549.4

Accounts and notes receivable, net
—

 
—

 
—

 
—

 
166.5

 
—

 
2,310.9

 
—

 
2,477.4

Inventories, net
—

 
—

 
—

 
—

 
168.5

 
—

 
1,386.9

 
—

 
1,555.4

Other current assets
0.2

 
—

 
5.7

 
112.6

 
76.2

 
—

 
342.2

 
—

 
536.9

Intercompany receivables
1,819.1

 
9,912.2

 
2,036.8

 
—

 
1,849.9

 
—

 
5,014.8

 
(20,632.8
)
 
—

Total current assets
1,819.3

 
9,912.2

 
2,043.1

 
112.6

 
2,620.4

 
—

 
10,244.3

 
(20,632.8
)
 
6,119.1

Property, plant and equipment, net
—

 
—

 
—

 
—

 
310.6

 
—

 
1,240.7

 
—

 
1,551.3

Goodwill and other intangible assets, net
—

 
—

 
—

 
—

 
436.0

 
—

 
9,242.6

 
—

 
9,678.6

Other noncurrent assets
—

 
—

 
—

 
185.4

 
471.1

 
—

 
550.8

 
(383.0
)
 
824.3

Investments in consolidated subsidiaries
7,318.1

 
1,684.2

 
2,953.9

 
10,480.3

 
10,923.7

 
1,150.9

 
—

 
(34,511.1
)
 
—

Total assets
$
9,137.4

 
$
11,596.4

 
$
4,997.0

 
$
10,778.3

 
$
14,761.8

 
$
1,150.9

 
$
21,278.4

 
$
(55,526.9
)
 
$
18,173.3

LIABILITIES AND EQUITY

 

 

 

 

 

 

 

 

Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
$
8.5

 
$
—

 
$
0.2

 
$
27.3

 
$
572.3

 
$
6.9

 
$
3,105.8

 
$
—

 
$
3,721.0

Short-term borrowings and current maturities of long-term debt
—

 
—

 
—

 
749.6

 
350.4

 
—

 
7.0

 
—

 
1,107.0

Intercompany payables
1,988.3

 
—

 
9,316.7

 
5,481.1

 
1,790.0

 
523.3

 
1,533.4

 
(20,632.8
)
 
—

Total current liabilities
1,996.8

 
—

 
9,316.9

 
6,258.0

 
2,712.7

 
530.2

 
4,646.2

 
(20,632.8
)
 
4,828.0

Long-term debt
—

 
—

 
—

 
1,539.9

 
326.8

 
1,089.7

 
0.6

 
—

 
2,957.0

Other noncurrent liabilities
0.3

 
—

 
—

 
92.4

 
1,251.8

 
—

 
2,219.9

 
(383.0
)
 
3,181.4

Total liabilities
1,997.1

 
—

 
9,316.9

 
7,890.3

 
4,291.3

 
1,619.9

 
6,866.7

 
(21,015.8
)
 
10,966.4

Equity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total equity
7,140.3

 
11,596.4

 
(4,319.9
)
 
2,888.0

 
10,470.5

 
(469.0
)
 
14,411.7

 
(34,511.1
)
 
7,206.9

Total liabilities and equity
$
9,137.4

 
$
11,596.4

 
$
4,997.0

 
$
10,778.3

 
$
14,761.8

 
$
1,150.9

 
$
21,278.4

 
$
(55,526.9
)
 
$
18,173.3


Condensed Consolidating Balance Sheet
December 31, 2016

In millions
Plc
 
Irish Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
—

 
$
—

 
$
—

 
$
634.6

 
$
—

 
$
1,080.1

 
$
—

 
$
1,714.7

Accounts and notes receivable, net
—

 
—

 
—

 
—

 
171.0

 
—

 
2,052.0

 
—

 
2,223.0

Inventories, net
—

 
—

 
—

 
—

 
165.3

 
—

 
1,220.5

 
—

 
1,385.8

Other current assets
0.2

 
—

 
5.3

 
0.7

 
69.4

 
—

 
189.3

 
(9.1
)
 
255.8

Intercompany receivable
122.3

 
—

 
5.6

 
271.6

 
220.5

 
—

 
11,747.9

 
(12,367.9
)
 
—

Total current assets
122.5

 
—

 
10.9

 
272.3

 
1,260.8

 
—

 
16,289.8

 
(12,377.0
)
 
5,579.3

Property, plant and equipment, net
—

 
—

 
—

 
—

 
445.9

 
—

 
1,065.1

 
—

 
1,511.0

Goodwill and other intangible assets, net
—

 
—

 
—

 
—

 
414.7

 
—

 
9,028.8

 
—

 
9,443.5

Other noncurrent assets
0.2

 
—

 
—

 
262.4

 
676.3

 
—

 
580.1

 
(655.4
)
 
863.6

Investments in consolidated subsidiaries
7,588.1

 
1,500.4

 
3,267.1

 
7,270.2

 
15,273.4

 
1,090.4

 
—

 
(35,989.6
)
 
—

Intercompany notes receivable
—

 
12,560.2

 
—

 
—

 
—

 
—

 
3,851.8

 
(16,412.0
)
 
—

Total assets
$
7,710.8

 
$
14,060.6

 
$
3,278.0

 
$
7,804.9

 
$
18,071.1

 
$
1,090.4

 
$
30,815.6

 
$
(65,434.0
)
 
$
17,397.4

LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
$
7.7

 
$
—

 
$
0.2

 
$
36.3

 
$
525.1

 
$
7.0

 
$
2,662.3

 
$
(9.1
)
 
$
3,229.5

Short-term borrowings and current maturities of long-term debt
—

 
—

 
—

 
—

 
350.4

 
—

 
10.4

 
—

 
360.8

Intercompany payable
1,059.3

 
—

 
3,400.1

 
1,068.2

 
6,285.6

 
486.9

 
67.8

 
(12,367.9
)
 
—

Total current liabilities
1,067.0

 
—

 
3,400.3

 
1,104.5

 
7,161.1

 
493.9

 
2,740.5

 
(12,377.0
)
 
3,590.3

Long-term debt
—

 
—

 
—

 
2,286.3

 
334.2

 
1,088.3

 
0.6

 
—

 
3,709.4

Other noncurrent liabilities
—

 
—

 
—

 
18.2

 
1,280.8

 
—

 
2,735.8

 
(655.4
)
 
3,379.4

Intercompany notes payable
—

 
—

 
6,376.3

 
1,817.2

 
2,034.6

 
—

 
6,183.9

 
(16,412.0
)
 
—

Total liabilities
1,067.0

 
—

 
9,776.6

 
5,226.2

 
10,810.7

 
1,582.2

 
11,660.8

 
(29,444.4
)
 
10,679.1

Equity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total equity
6,643.8

 
14,060.6

 
(6,498.6
)
 
2,578.7

 
7,260.4

 
(491.8
)
 
19,154.8

 
(35,989.6
)
 
6,718.3

Total liabilities and equity
$
7,710.8

 
$
14,060.6

 
$
3,278.0

 
$
7,804.9

 
$
18,071.1

 
$
1,090.4

 
$
30,815.6

 
$
(65,434.0
)
 
$
17,397.4



Condensed Consolidating Statement of Cash Flows
For the year ended December 31, 2017

In millions
Plc
 
Irish Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash provided by (used in) continuing operating activities
$
83.8

 
$
—

 
$
(42.8
)
 
$
(284.9
)
 
$
438.4

 
$
(48.0
)
 
$
1,415.1

 
$
—

 
$
1,561.6

Net cash provided by (used in) discontinued operating activities
—

 
—

 
—

 
—

 
(36.9
)
 
—

 
(1.2
)
 
—

 
(38.1
)
Net cash provided by (used in) operating activities
83.8


—


(42.8
)

(284.9
)

401.5


(48.0
)

1,413.9


—


1,523.5

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
—

 
—

 
—

 
(74.2
)
 
—

 
(147.1
)
 
—

 
(221.3
)
Acquisition of businesses, net of cash acquired
—

 
—

 
—

 
—

 
(2.7
)
 
—

 
(154.9
)
 
—

 
(157.6
)
Proceeds from sale of property, plant and equipment
—

 
—

 
—

 
—

 
—

 
—

 
1.5

 
—

 
1.5

Proceeds from sale of joint venture
—

 
—

 
—

 
—

 
—

 
—

 
2.7

 
—

 
2.7

Intercompany investing activities, net
285.1

 
285.2

 
2,050.2

 
270.1

 
4,899.4

 
11.7

 
6,788.3

 
(14,590.0
)
 
—

Net cash provided by (used in) investing activities
285.1


285.2


2,050.2


270.1


4,822.5


11.7


6,490.5


(14,590.0
)

(374.7
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net proceeds (repayments) of debt
—

 
—

 
—

 
—

 
(7.5
)
 
—

 
(4.2
)
 
—

 
(11.7
)
Debt issuance costs
—

 
—

 
—

 
(0.2
)
 
—

 
—

 
—

 
—

 
(0.2
)
Dividends paid to ordinary shareholders
(430.1
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(430.1
)
Dividends paid to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(15.8
)
 
—

 
(15.8
)
Acquisition of noncontrolling interest
—

 
—

 
—

 
—

 
—

 
—

 
(6.8
)
 
—

 
(6.8
)
Proceeds from shares issued under incentive plans
76.7

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
76.7

Repurchase of ordinary shares
(1,016.9
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(1,016.9
)
Other financing activities, net
(25.4
)
 
—

 
—

 
—

 
(1.7
)
 
—

 
(0.6
)
 
—

 
(27.7
)
Intercompany financing activities, net
1,026.8

 
(285.2
)
 
(2,006.8
)
 
15.0

 
(5,490.1
)
 
36.3

 
(7,886.0
)
 
14,590.0

 
—

Net cash provided by (used in) financing activities
(368.9
)

(285.2
)

(2,006.8
)

14.8


(5,499.3
)

36.3


(7,913.4
)

14,590.0


(1,432.5
)
Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
—

 
—

 
—

 
—

 
118.4

 
—

 
118.4

Net increase (decrease) in cash and cash equivalents
—


—


0.6


—


(275.3
)

—


109.4


—


(165.3
)
Cash and cash equivalents - beginning of period
—

 
—

 
—

 
—

 
634.6

 
—

 
1,080.1

 
—

 
1,714.7

Cash and cash equivalents - end of period
$
—


$
—


$
0.6


$
—


$
359.3


$
—


$
1,189.5


$
—


$
1,549.4


Condensed Consolidating Statement of Cash Flows
For the year ended December 31, 2016
 
In millions
Plc
 
Irish Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash provided by (used in) continuing operating activities
$
(80.4
)
 
$
—

 
$
(42.0
)
 
$
(276.6
)
 
$
823.4

 
$
(47.3
)
 
$
1,055.9

 
$
—

 
$
1,433.0

Net cash provided by (used in) discontinued operating activities
—

 
—

 
—

 
—

 
86.4

 
—

 
2.5

 
—

 
88.9

Net cash provided by (used in) operating activities
(80.4
)

—


(42.0
)

(276.6
)

909.8


(47.3
)

1,058.4


—


1,521.9

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
—

 
—

 
—

 
(73.7
)
 
—

 
(109.0
)
 
—

 
(182.7
)
Acquisition of businesses, net of cash acquired
—

 
—

 
—

 
—

 
(9.2
)
 
—

 
—

 
—

 
(9.2
)
Proceeds from sale of property, plant and equipment
—

 
—

 
—

 
—

 
—

 
—

 
9.5

 
—

 
9.5

Proceeds from sale of Hussmann equity investment
—

 
—

 
—

 
—

 
—

 
—

 
422.5

 
—

 
422.5

Intercompany investing activities, net
(90.1
)
 
(19,465.7
)
 
6,181.4

 
(172.9
)
 
65.8

 
336.1

 
(2,226.8
)
 
15,372.2

 
—

Net cash provided by (used in) investing activities
(90.1
)

(19,465.7
)

6,181.4


(172.9
)

(17.1
)

336.1


(1,903.8
)

15,372.2


240.1

CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net proceeds (repayments) of debt
—

 
—

 
—

 
—

 
(7.7
)
 
(143.0
)
 
—

 
—

 
(150.7
)
Debt issuance costs
—

 
—

 
—

 
(2.1
)
 
—

 
—

 
—

 
—

 
(2.1
)
Dividends paid to ordinary shareholders
(348.6
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(348.6
)
Dividends paid to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(14.1
)
 
—

 
(14.1
)
Proceeds from shares issued under incentive plans
62.9

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
62.9

Repurchase of ordinary shares
(250.1
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(250.1
)
Other financing activities, net
(24.2
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(24.2
)
Intercompany financing activities, net
730.5

 
19,465.7

 
(6,139.4
)
 
440.2

 
(250.4
)
 
(145.9
)
 
1,271.5

 
(15,372.2
)
 
—

Net cash provided by (used in) financing activities
170.5


19,465.7


(6,139.4
)

438.1


(258.1
)

(288.9
)

1,257.4


(15,372.2
)

(726.9
)
Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
—

 
—

 
—

 
—

 
(57.2
)
 
—

 
(57.2
)
Net increase (decrease) in cash and cash equivalents
—


—


—


(11.4
)

634.6


(0.1
)

354.8


—


977.9

Cash and cash equivalents – beginning of period
—

 
—

 
—

 
11.4

 
—

 
0.1

 
725.3

 
—

 
736.8

Cash and cash equivalents – end of period
$
—


$
—


$
—


$
—


$
634.6


$
—


$
1,080.1


$
—


$
1,714.7


Condensed Consolidating Statement of Cash Flows
For the year ended December 31, 2015

In millions
Plc
 
Irish Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash provided by (used in) continuing operating activities
$
(22.9
)
 
$
(1.2
)
 
$
(33.6
)
 
$
(122.9
)
 
$
(294.3
)
 
$
(45.8
)
 
$
1,444.2

 
$
—

 
$
923.5

Net cash provided by (used in) discontinued operating activities
—

 
—

 
—

 
—

 
(30.6
)
 
—

 
(4.5
)
 
—

 
(35.1
)
Net cash provided by (used in) operating activities
(22.9
)

(1.2
)

(33.6
)

(122.9
)

(324.9
)

(45.8
)

1,439.7


—


888.4

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
—

 
—

 
—

 
(122.9
)
 
—

 
(126.7
)
 
—

 
(249.6
)
Acquisition of businesses, net of cash acquired
—

 
—

 
—

 
—

 
(443.5
)
 
—

 
(518.3
)
 
—

 
(961.8
)
Proceeds from sale of property, plant and equipment
—

 
—

 
—

 
—

 
3.0

 
—

 
15.5

 
—

 
18.5

Intercompany investing activities, net
—

 
3.5

 
1,963.3

 
339.0

 
125.4

 
(228.0
)
 
(1,012.6
)
 
(1,190.6
)
 
—

Net cash provided by (used in) investing activities
—


3.5


1,963.3


339.0


(438.0
)

(228.0
)

(1,642.1
)

(1,190.6
)

(1,192.9
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net proceeds (repayments) of debt
—

 
—

 
—

 
(0.1
)
 
(7.6
)
 
43.0

 
(28.9
)
 
—

 
6.4

Dividends paid to ordinary shareholders
(303.3
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(303.3
)
Dividends paid to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(9.3
)
 
—

 
(9.3
)
Proceeds from shares issued under incentive plans
61.3

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
61.3

Repurchase of ordinary shares
(250.1
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(250.1
)
Other financing activities, net
(32.6
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(32.6
)
Intercompany financing activities, net
547.6

 
(2.3
)
 
(1,930.8
)
 
(204.6
)
 
345.1

 
230.9

 
(176.5
)
 
1,190.6

 
—

Net cash provided by (used in) financing activities
22.9


(2.3
)

(1,930.8
)

(204.7
)

337.5


273.9


(214.7
)

1,190.6


(527.6
)
Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
—

 
—

 
—

 
—

 
(136.3
)
 
—

 
(136.3
)
Net increase (decrease) in cash and cash equivalents
—


—


(1.1
)

11.4


(425.4
)

0.1


(553.4
)

—


(968.4
)
Cash and cash equivalents – beginning of period
—

 
—

 
1.1

 
—

 
425.4

 
—

 
1,278.7

 
—

 
1,705.2

Cash and cash equivalents – end of period
$
—


$
—


$
—


$
11.4


$
—


$
0.1


$
725.3


$
—


$
736.8



Summary of Significant Accounting Policies (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Net Debt Issuance Cost
 
$ 21.2 
 
Dividends received from equity investments
 
 
   
Percentage of LIFO inventory
51.00% 
51.00% 
 
Allowance for doubtful accounts receivable, current
26.9 
26.0 
 
Customer Refund Liability, Current
3.2 
3.7 
 
Deferred Sales Inducement Cost, Net
107.3 
87.5 
 
Research and development expense
210.8 
207.9 
205.9 
Effect of Exchange Rate on Cash and Cash Equivalents
118.4 
(57.2)
(136.3)
Net Cash Provided by (Used in) Operating Activities, Continuing Operations
$ 1,561.6 
$ 1,433.0 
$ 923.5 
Ownership Percentage Policy Minimum [Member]
 
 
 
Equity Method Investment, Ownership Percentage
20.00% 
 
 
Ownership Percentage Policy Maximum [Member]
 
 
 
Equity Method Investment, Ownership Percentage
50.00% 
 
 
Summary of Significant Accounting Policies (Depreciation) (Details)
12 Months Ended
Dec. 31, 2017
Minimum [Member] |
Buildings [Member]
 
Property, plant and equipment, useful life
10 years 
Minimum [Member] |
Machinery and Equipment [Member]
 
Property, plant and equipment, useful life
2 years 
Minimum [Member] |
Software [Member]
 
Property, plant and equipment, useful life
2 years 
Maximum [Member] |
Buildings [Member]
 
Property, plant and equipment, useful life
50 years 
Maximum [Member] |
Machinery and Equipment [Member]
 
Property, plant and equipment, useful life
12 years 
Maximum [Member] |
Software [Member]
 
Property, plant and equipment, useful life
7 years 
Summary of Significant Accounting Policies (Weighted-Average) (Details)
12 Months Ended
Dec. 31, 2017
Customer Relationships [Member]
 
Weighted-average useful life
20 years 
Completed Technology/Patents [Member]
 
Weighted-average useful life
10 years 
Other Intangible Assets [Member]
 
Weighted-average useful life
20 years 
Inventories (Schedule of Major Classes of Inventory) (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
Dec. 31, 2016
Raw materials
$ 502.8 
$ 448.5 
Work-in-process
180.5 
154.0 
Finished goods
941.0 
845.6 
Sub-total
1,624.3 
1,448.1 
LIFO reserve
(68.9)
(62.3)
Total
$ 1,555.4 
$ 1,385.8 
Inventories Inventories (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
Dec. 31, 2016
Inventories [Abstract]
 
 
Inventory Valuation Reserves
$ 120.3 
$ 111.7 
Property, Plant and Equipment (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Property, Plant and Equipment [Abstract]
 
 
 
Depreciation expense
$ 217.3 
$ 216.7 
$ 209.5 
Software amortization
$ 28.6 
$ 35.9 
$ 41.9 
Property, Plant and Equipment (Schedule of Major Classes of Property, Plant and Equipment) (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
Dec. 31, 2016
Property, Plant and Equipment [Line Items]
 
 
Property, plant and equipment, gross
$ 3,664.3 
$ 3,367.7 
Accumulated depreciation
(2,113.0)
(1,856.7)
Total
1,551.3 
1,511.0 
Land [Member]
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant and equipment, gross
52.0 
49.2 
Buildings [Member]
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant and equipment, gross
770.1 
708.9 
Machinery and Equipment [Member]
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant and equipment, gross
2,019.5 
1,831.1 
Software [Member]
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant and equipment, gross
$ 822.7 
$ 778.5 
Goodwill (Details) (USD $)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2008
Goodwill, gross, beginning balance
$ 5,658,400,000 
$ 5,730,200,000 
 
Acquisitions and adjustments
86,800,000 1
12,900,000 
 
Currency translation
190,500,000 
(84,700,000)
 
Goodwill, gross, ending balance
5,935,700,000 
5,658,400,000 
 
Goodwill
5,935,700,000 
5,658,400,000 
 
Goodwill, Impairment Loss
0 
0 
2,496,000,000 
Climate [Member]
 
 
 
Goodwill, gross, beginning balance
4,879,100,000 
4,952,600,000 
 
Acquisitions and adjustments
26,300,000 1
400,000 
 
Currency translation
159,700,000 
(73,900,000)
 
Goodwill, gross, ending balance
5,065,100,000 
4,879,100,000 
 
Industrial [Member]
 
 
 
Goodwill, gross, beginning balance
779,300,000 
777,600,000 
 
Acquisitions and adjustments
60,500,000 1
12,500,000 
 
Currency translation
30,800,000 
(10,800,000)
 
Goodwill, gross, ending balance
$ 870,600,000 
$ 779,300,000 
 
Intangible Assets Intangible Assets Narrative (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Intangible Assets Abstract
 
 
 
Amortization of intangible assets
$ 132.0 
$ 132.0 
$ 150.2 
Future estimated amortization expense, 2015
133 
 
 
Future estimated amortization expense, 2016
132 
 
 
Future estimated amortization expense, 2017
130 
 
 
Future estimated amortization expense, 2018
129 
 
 
Future estimated amortization expense, 2019
$ 129 
 
 
Intangible Assets (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
Dec. 31, 2016
Finite-lived intangible assets, gross
$ 2,372.2 
$ 2,273.0 
Accumulated amortization
(1,286.9)
(1,140.2)
Total net finite-lived intangible assets
1,085.3 
1,132.8 
Intangible Assets, Gross (Excluding Goodwill)
5,029.8 
4,925.3 
Intangible Assets, Net (Excluding Goodwill)
3,742.9 
3,785.1 
Trademarks [Member]
 
 
Trademarks, indefinite lived
2,657.6 
2,652.3 
Completed Technology/Patents [Member]
 
 
Finite-lived intangible assets, gross
209.4 
203.0 
Accumulated amortization
(177.3)
(165.6)
Total net finite-lived intangible assets
32.1 
37.4 
Customer Relationships [Member]
 
 
Finite-lived intangible assets, gross
2,068.9 
2,008.9 
Accumulated amortization
(1,056.9)
(926.1)
Total net finite-lived intangible assets
1,012.0 
1,082.8 
Other Intangible Assets [Member]
 
 
Finite-lived intangible assets, gross
93.9 
61.1 
Accumulated amortization
(52.7)
(48.5)
Total net finite-lived intangible assets
$ 41.2 
$ 12.6 
Debt and Credit Facilities (Narrative) (Details) (USD $)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Weighted average interest rate on short term borrowings and current maturities of long term debt
6.70% 
6.40% 
 
Commercial paper program maximum aggregate amount available to be issued
$ 2,000,000,000 
 
 
Commercial Paper Program, amounts outstanding
0 
143,000,000 
 
Short-term borrowings and current maturities of long-term debt
1,107,000,000 
360,800,000 
 
Repayments of Long-term Debt
0 
0 
23,900,000 
Line of credit facility, maximum borrowing capacity
(2,000,000,000)
 
 
Debt Instrument, Fair Value Disclosure
4,462,200,000 
4,428,900,000 
 
6.625% Percent Senior Notes Due Two Thousand Twenty [Member]
 
 
 
Debt instrument, interest rate
2.625% 
2.625% 
 
3.55% Senior Notes due 2024 [Member]
 
 
 
Debt instrument, interest rate
3.55% 
3.55% 
 
4.650% Percent Senior Notes due Twenty Forty Four [Member]
 
 
 
Debt instrument, interest rate
4.65% 
4.65% 
 
6.875% Senior Notes Due 2018 [Member]
 
 
 
Debt instrument, interest rate
6.875% 
6.875% 
 
2.875% Senior Notes Due 2019 [Member]
 
 
 
Debt instrument, interest rate
2.875% 
2.875% 
 
9.00% Debentures Due 2021 [Member]
 
 
 
Debt instrument, interest rate
9.00% 
9.00% 
 
4.250% Senior Notes Due 2013 [Member]
 
 
 
Debt instrument, interest rate
4.25% 
4.25% 
 
7.20% Debentures Due 2014-2025 [Member]
 
 
 
Debt instrument, interest rate
7.20% 
7.20% 
 
6.48% Debentures Due 2025 [Member]
 
 
 
Debt instrument, interest rate
6.48% 
6.48% 
 
5.750% Senior Notes Due 2043 [Member]
 
 
 
Debt instrument, interest rate
5.75% 
5.75% 
 
Other Loans And Notes [Member]
 
 
 
Other loans and notes, maturing in various amounts to 2019, end of year average interest rates
2.58% 
1.08% 
 
Commercial Paper [Member]
 
 
 
Short-term borrowings and current maturities of long-term debt
0 
0 
 
Debentures With Put Feature [Member]
 
 
 
Short-term borrowings and current maturities of long-term debt
343,000,000 
343,000,000 
 
Debt instrument, maturity date range, start
Jan. 01, 2027 
 
 
Debt instrument, maturity date range, end
Dec. 31, 2028 
 
 
Six Point Zero Zero Zero Percent Senior Notes Due Two Thousand Thirteen [Member]
 
 
 
Debt instrument, interest rate
6.00% 
 
 
Five Year Revolving Credit Facility [Member]
 
 
 
Line of credit facility, maximum borrowing capacity
(1,000,000,000)
 
 
Non-U.S. [Member]
 
 
 
Other available Non-US lines of credit, borrowing capacity
0 
 
 
Other available Non-US lines of credit, remaining borrowing capacity
$ 0 
 
 
Debt and Credit Facilities (Short-Term Borrowings and Current Maturities of Long-Term Debt) (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
Dec. 31, 2016
Short-term Debt [Line Items]
 
 
Short-term borrowings and current maturities of long-term debt
$ 1,107.0 
$ 360.8 
Debentures With Put Feature [Member]
 
 
Short-term Debt [Line Items]
 
 
Short-term borrowings and current maturities of long-term debt
343.0 
343.0 
Six Point Zero Zero Zero Percent Senior Notes Due Two Thousand Thirteen [Member]
 
 
Short-term Debt [Line Items]
 
 
Debt instrument, interest rate
6.00% 
 
Other Current Maturities of Long Term Debt [Member]
 
 
Short-term Debt [Line Items]
 
 
Short-term borrowings and current maturities of long-term debt
7.7 
7.7 
Other Short Term Borrowings [Member]
 
 
Short-term Debt [Line Items]
 
 
Short-term borrowings and current maturities of long-term debt
$ 6.7 
$ 10.1 
Debt and Credit Facilities (Long-Term Debt Excluding Current Maturities) (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
Dec. 31, 2016
Long-term debt excluding current maturities
$ 2,957.0 
$ 3,709.4 
6.875% Senior Notes Due 2018 [Member]
 
 
Debt instrument, interest rate
6.875% 
6.875% 
Long-term debt excluding current maturities
0 
748.6 
2.875% Senior Notes Due 2019 [Member]
 
 
Debt instrument, interest rate
2.875% 
2.875% 
Long-term debt excluding current maturities
349.4 
348.6 
6.625% Percent Senior Notes Due Two Thousand Twenty [Member]
 
 
Debt instrument, interest rate
2.625% 
2.625% 
Long-term debt excluding current maturities
298.9 
298.5 
9.00% Debentures Due 2021 [Member]
 
 
Debt instrument, interest rate
9.00% 
9.00% 
Long-term debt excluding current maturities
124.9 
124.8 
4.250% Senior Notes Due 2013 [Member]
 
 
Debt instrument, interest rate
4.25% 
4.25% 
Long-term debt excluding current maturities
696.5 
695.6 
7.20% Debentures Due 2014-2025 [Member]
 
 
Debt instrument, interest rate
7.20% 
7.20% 
Long-term debt excluding current maturities
52.3 
59.7 
3.55% Senior Notes due 2024 [Member]
 
 
Debt instrument, interest rate
3.55% 
3.55% 
Long-term debt excluding current maturities
495.2 
494.5 
6.48% Debentures Due 2025 [Member]
 
 
Debt instrument, interest rate
6.48% 
6.48% 
Long-term debt excluding current maturities
149.7 
149.7 
5.750% Senior Notes Due 2043 [Member]
 
 
Debt instrument, interest rate
5.75% 
5.75% 
Long-term debt excluding current maturities
494.0 
493.6 
4.650% Percent Senior Notes due Twenty Forty Four [Member]
 
 
Debt instrument, interest rate
4.65% 
4.65% 
Long-term debt excluding current maturities
295.6 
295.4 
Other Loans And Notes [Member]
 
 
Other loans and notes, maturing in various amounts to 2019, end of year average interest rates
2.58% 
1.08% 
Long-term debt excluding current maturities
$ 0.5 
$ 0.4 
Debt and Credit Facilities (Long-Term Debt Maturities and Repayment of Principle) (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
2014
$ 1,100.3 
2015
357.2 
2016
306.6 
2017
132.4 
2018
7.5 
Thereafter
2,153.3 
Total
$ 4,057.3 
Financial Instruments (Narrative) (Details) (USD $)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Derivative, Notional Amount
$ 700,000,000 
$ 1,100,000,000 
 
Accumulated other comprehensive income (loss), derivatives qualifying as hedges, net of tax
(778,800,000)
(1,290,500,000)
(1,120,900,000)
Currency derivatives expected to be reclassified into earnings over the next twelve months
1,200,000 
 
 
Approximate maximum term of currency derivatives, in months
12 months 
 
 
Repayments of Long-term Debt
0 
0 
23,900,000 
Deferred losses remaining in AOCI related to the interest rate locks
6,600,000 
6,000,000 
 
Amount expected to be reclassified into interest expense over the next twelve months
100,000 
 
 
Interest rate swaps and locks [Member]
 
 
 
Derivative, Notional Amount
1,300,000,000 
 
 
Designated as Hedging Instrument [Member]
 
 
 
Accumulated other comprehensive income (loss), derivatives qualifying as hedges, net of tax
$ 1,200,000 
$ 2,400,000 
 
Financial Instruments Schedule of Fair Values of Derivative Instruments (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
Dec. 31, 2016
Derivative instruments, gross asset
$ 7.2 
$ 0.6 
Derivative instruments, gross liability
2.5 
20.8 
Cash Flow Hedging [Member] |
Designated as Hedging Instrument [Member]
 
 
Derivatives designated as hedges, asset
0 
0.3 
Derivatives designated as hedges, liability
1.3 
2.9 
Cash Flow Hedging [Member] |
Undesignated Hedges [Member]
 
 
Derivatives not designated as hedges, asset
7.2 
0.3 
Derivatives not designated as hedges, liability
1.2 
17.9 
Cash Flow Hedging [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Derivative instruments, gross asset
7.2 
0.6 
Derivative instruments, gross liability
$ 2.5 
$ 20.8 
Financial Instruments Schedule of Derivatives Designated as Hedges Affecting Income Statement and Accumulated Other Comprehensive Income (Details) (Cash Flow Hedging [Member], USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Derivative instruments, gain (loss) recognized in Other comprehensive income (loss), effective portion, net
$ (1.8)
$ 2.2 
$ 1.2 
Derivative instruments, gain (loss) reclassified from Accumulated OCI into Income, effective portion, net
(3.6)
4.8 
(2.6)
Currency Derivatives [Member]
 
 
 
Derivative instruments, gain (loss) recognized in Other comprehensive income (loss), effective portion, net
(1.8)
2.2 
1.2 
Interest Rate Swap and Lock [Member]
 
 
 
Derivative instruments, gain (loss) recognized in Other comprehensive income (loss), effective portion, net
0 
0 
0 
Cost of goods sold [Member] |
Currency Derivatives [Member]
 
 
 
Derivative instruments, gain (loss) reclassified from Accumulated OCI into Income, effective portion, net
(3.1)
5.3 
(2.1)
Interest Expense [Member] |
Interest Rate Swap and Lock [Member]
 
 
 
Derivative instruments, gain (loss) reclassified from Accumulated OCI into Income, effective portion, net
$ (0.5)
$ (0.5)
$ (0.5)
Financial Instruments Schedule of Gains and Losses of Derivative Financial Instruments Not Designated as Hedges (Details) (Undesignated Hedges [Member], Foreign Exchange [Member], USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Derivative instruments, gain (loss) recognized in Income, net
$ 58.0 
$ (39.2)
$ 0.1 
Other, net [Member]
 
 
 
Derivative instruments, gain (loss) recognized in Income, net
$ 58.0 
$ (39.2)
$ 0.1 
Fair Value Measurements (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2017
Fair Value, Inputs, Level 1 [Member]
Dec. 31, 2016
Fair Value, Inputs, Level 1 [Member]
Dec. 31, 2017
Fair Value, Inputs, Level 3 [Member]
Dec. 31, 2016
Fair Value, Inputs, Level 3 [Member]
Dec. 31, 2017
Debentures With Put Feature [Member]
Derivative instruments
$ 7.2 
$ 0.6 
$ 0 
$ 0 
$ 0 
$ 0 
 
Derivative instruments
$ 2.5 
$ 20.8 
$ 0 
$ 0 
$ 0 
$ 0 
 
Debt instrument, maturity date range, start
 
 
 
 
 
 
Jan. 01, 2027 
Debt instrument, maturity date range, end
 
 
 
 
 
 
Dec. 31, 2028 
Pensions and Postretirement Benefits Other Than Pensions (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Percent of our projected benefit obligation relates to plans that cannot be funded
7.00% 
 
 
Accumulated benefit obligation for all defined benefit pension plans
$ 3,626.7 
$ 3,418.2 
 
Projected benefit obligation
3,291.4 
3,095.1 
 
Accumulated benefit obligation
3,194.7 
3,002.0 
 
Fair value of plan assets
2,554.0 
2,346.4 
 
Multiemployer plan, period contributions
9.0 
7.7 
6.7 
Net of Medicare Part D subsidy
1.1 
2.5 
 
Postretirement Benefit Costs [Member]
 
 
 
Projected prior service cost for 2013
(8.6)
(8.9)
(8.9)
Postretirement benefit cost
14.1 
 
 
Projected prior service gains in 2013
3.8 
 
 
Plan net actuarial gains (losses)
0.1 
0.1 
0.1 
Net periodic benefit cost after net curtailment and settlement (gains) losses
10.3 
12.4 
18.2 
Pension Plans [Member]
 
 
 
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)
3.8 
4.7 
3.2 
Projected pension expenses for 2013
86.1 
 
 
Projected prior service cost for 2013
4.2 
 
 
Projected net actuarial losses for 2013
49.9 
 
 
Projected company contributions in 2013
75.2 
 
 
Plan net actuarial gains (losses)
56.8 
61.6 
60.7 
Net periodic benefit cost after net curtailment and settlement (gains) losses
104.3 
104.6 
111.0 
Postretirement [Member]
 
 
 
Discount rate
3.38% 
 
3.88% 
Plan net actuarial gains (losses)
30.2 
24.4 
 
Prior to 2012 plan amendment [Member] |
Postretirement [Member]
 
 
 
Discount rate
 
3.73% 
 
Change In Plan Assets [Member] |
Pension Plans [Member]
 
 
 
Defined benefit plan, fair value of pension plan assets
3,063.1 
2,797.1 
2,772.0 
Company contributions
101.4 
56.4 
35.6 
Fixed Income Investments [Member]
 
 
 
Defined benefit plan, fair value of pension plan assets
2,192.4 
1,966.1 
 
Fixed Income Investments [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
 
Defined benefit plan, fair value of pension plan assets
0 
0 
 
U.S. plans [Member] |
Pension Plans [Member]
 
 
 
Discount rate
3.54% 
3.97% 
 
Company contributions
118.7 
108.3 
98.1 
Non-U.S. plans [Member] |
Pension Plans [Member]
 
 
 
Discount rate
2.29% 
2.40% 
 
Non-U.S. plans [Member] |
Defined Contribution and Other Benefit Plans [Member]
 
 
 
Company contributions
$ 47.7 
$ 39.9 
$ 30.5 
Pensions and Postretirement Benefits Other Than Pensions (Schedule of Company's Pension Plans) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Amounts included in the balance sheet:
 
 
 
Other noncurrent assets
$ 824.3 
$ 863.6 
 
Pension Plans [Member]
 
 
 
Change in benefit obligations:
 
 
 
Service cost
70.8 
72.1 
75.2 
Interest cost
109.0 
110.2 
129.5 
Actuarial (gains) losses
(56.8)
(61.6)
(60.7)
Funded status:
 
 
 
Plan assets less than the benefit obligations
(679.1)
(734.8)
 
Amounts included in the balance sheet:
 
 
 
Other noncurrent assets
61.7 
19.2 
 
Accrued compensation and benefits
(15.3)
(6.4)
 
Postemployment and other benefit liabilities
(725.5)
(747.6)
 
Net amount recognized
(679.1)
(734.8)
 
Change In Benefit Obligations [Member] |
Pension Plans [Member]
 
 
 
Change in benefit obligations:
 
 
 
Benefit obligation at beginning of year
3,531.9 
3,523.8 
 
Service cost
70.8 
72.1 
 
Interest cost
109.0 
110.2 
 
Employee contributions
1.1 
1.0 
 
Amendments
3.8 
6.2 
 
Actuarial (gains) losses
175.8 
129.6 
 
Benefits paid
194.8 
203.5 
 
Currency translation
69.6 
(89.4)
 
Curtailments and settlements
(13.1)
(1.6)
 
Other, including expenses paid
(11.9)
(16.5)
 
Benefit obligation at end of year
3,742.2 
3,531.9 
 
Change in plan assets:
 
 
 
Other, including expenses paid
(11.9)
(16.5)
 
Change In Plan Assets [Member] |
Pension Plans [Member]
 
 
 
Change in benefit obligations:
 
 
 
Other, including expenses paid
(14.1)
(16.5)
 
Change in plan assets:
 
 
 
Fair value at beginning of year
2,797.1 
2,772.0 
 
Actual return on assets
326.9 
274.9 
 
Company contributions
101.4 
56.4 
35.6 
Employee contributions
1.1 
1.0 
 
Benefits paid
(194.8)
(203.5)
 
Currency translation
59.0 
(85.6)
 
Settlements
(13.5)
(1.6)
 
Other, including expenses paid
(14.1)
(16.5)
 
Fair value at end of year
$ 3,063.1 
$ 2,797.1 
$ 2,772.0 
Pensions and Postretirement Benefits Other Than Pensions (Schedule of Pretax Amounts Recognized in Accumulated Other Comprehensive Income or (Loss)) (Details) (Pension Plans [Member], USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Balance at December 31, 2013
$ (912.3)
Current year changes recorded to Accumulated other comprehensive income (loss)
5.6 
Amortization reclassified to earnings
60.6 
Settlements/curtailments reclassified to earnings
7.7 
Currency translation and other
(15.3)
Balance at December 31, 2014
(853.7)
Prior Service Cost [Member]
 
Balance at December 31, 2013
(25.5)
Current year changes recorded to Accumulated other comprehensive income (loss)
(3.8)
Amortization reclassified to earnings
3.8 
Settlements/curtailments reclassified to earnings
4.7 
Currency translation and other
0.6 
Balance at December 31, 2014
(20.2)
Net Actuarial Losses [Member]
 
Balance at December 31, 2013
(886.8)
Current year changes recorded to Accumulated other comprehensive income (loss)
9.4 
Amortization reclassified to earnings
56.8 
Settlements/curtailments reclassified to earnings
3.0 
Currency translation and other
(15.9)
Balance at December 31, 2014
$ (833.5)
Pensions and Postretirement Benefits Other Than Pensions (Schedule of Defined Benefit Plan Weighted Average Assumptions) (Details) (Pension Plans [Member])
Dec. 31, 2017
Dec. 31, 2016
U.S. plans [Member]
 
 
Discount rate
3.54% 
3.97% 
Rate of compensation increase
4.00% 
4.00% 
Non-U.S. plans [Member]
 
 
Discount rate
2.29% 
2.40% 
Rate of compensation increase
4.00% 
4.00% 
Pensions and Postretirement Benefits Other Than Pensions (Schedule of Defined Benefit Plan Pension Benefit Payments) (Details) (Pension Plans [Member], USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
Pension Plans [Member]
 
2015
$ 215.2 
2016
209.0 
2017
218.7 
2018
218.4 
2019
220.7 
2020-2024
$ 1,136.9 
Pensions and Postretirement Benefits Other Than Pensions (Schedule of Net Periodic Benefit Cost) (Details) (Pension Plan [Member], USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Service cost
$ 70.8 
$ 72.1 
$ 75.2 
Interest cost
109.0 
110.2 
129.5 
Expected return on plan assets
(141.7)
(146.1)
(158.3)
Defined Benefit Plan, Amortization of Prior Service Cost (Credit)
3.8 
4.7 
3.2 
Plan net actuarial losses, net amortization of
56.8 
61.6 
60.7 
Net periodic benefit cost
98.7 
102.5 
110.3 
Net curtailment and settlement (gains) losses
5.6 
2.1 
0.7 
Net periodic benefit cost after net curtailment and settlement (gains) losses
104.3 
104.6 
111.0 
Segment, Continuing Operations [Member]
 
 
 
Net periodic benefit cost after net curtailment and settlement (gains) losses
68.2 
69.3 
73.6 
Segment, Discontinued Operations [Member]
 
 
 
Net periodic benefit cost after net curtailment and settlement (gains) losses
$ 10.7 
$ 9.8 
$ 10.3 
Pensions and Postretirement Benefits Other Than Pensions (Schedule of Weighted Average Assumptions Net Periodic Pension Cost) (Details) (Pension Plans [Member])
1 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Nov. 30, 2015
Nov. 30, 2014
Nov. 30, 2013
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
U.S. plans [Member]
 
 
 
 
 
 
 
 
 
Discount rate
3.36% 
3.29% 
3.75% 
4.18% 
4.25% 
3.75% 
 
 
 
Rate of compensation increase
 
 
 
 
 
 
4.00% 
4.00% 
4.00% 
Percentage of expected return on plan assets
 
 
 
 
 
 
5.50% 
5.75% 
5.75% 
Non-U.S. plans [Member]
 
 
 
 
 
 
 
 
 
Discount rate
2.50% 
3.18% 
3.25% 
2.66% 
3.05% 
3.25% 
 
 
 
Rate of compensation increase
 
 
 
 
 
 
4.00% 
4.00% 
4.00% 
Percentage of expected return on plan assets
 
 
 
 
 
 
3.25% 
3.75% 
4.25% 
Pensions and Postretirement Benefits Other Than Pensions (Schedule of Fair Values of Company's Pension Plan Assets) (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
Dec. 31, 2016
Receivables and payables, net
$ (5.4)
$ 16.8 
Derivative [Member]
 
 
Defined benefit plan, fair value of pension plan assets
(0.3)
 
Derivative [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
 
Derivative [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
(0.3)
 
Derivative [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
 
Real Estate Funds [Member]
 
 
Defined benefit plan, fair value of pension plan assets
4.9 1
7.3 1
Real Estate Funds [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 1
0 1
Real Estate Funds [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 1
0 1
Real Estate Funds [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
4.9 1
7.3 1
Other Defined Benefit [Member]
 
 
Defined benefit plan, fair value of pension plan assets
79.0 2
64.3 2
Other Defined Benefit [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 2
0 2
Other Defined Benefit [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 2
0 2
Other Defined Benefit [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
79.0 2
64.3 2
Cash and Cash Equivalents [Member]
 
 
Defined benefit plan, fair value of pension plan assets
40.2 
28.8 
Cash and Cash Equivalents [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
4.8 
11.8 
Cash and Cash Equivalents [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
35.4 
17.0 
Cash and Cash Equivalents [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
0 
Registered mutual funds, equity specialty [Member]
 
 
Defined benefit plan, fair value of pension plan assets
77.6 3
73.9 3
Registered mutual funds, equity specialty [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 3
0 3
Registered mutual funds, equity specialty [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 3
0 3
Registered mutual funds, equity specialty [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 3
0 3
Equity Securities [Member]
 
 
Defined benefit plan, fair value of pension plan assets
752.3 
714.7 
Equity Securities [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
0 
Equity Securities [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
0 
Equity Securities [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
0 
Commingled funds, equity specialty [Member]
 
 
Defined benefit plan, fair value of pension plan assets
674.7 3
640.8 3
Commingled funds, equity specialty [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 3
0 3
Commingled funds, equity specialty [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 3
0 3
Commingled funds, equity specialty [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 3
0 3
Fixed Income Investments [Member]
 
 
Defined benefit plan, fair value of pension plan assets
2,192.4 
1,966.1 
Fixed Income Investments [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
0 
Fixed Income Investments [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
1,923.3 
1,712.3 
Fixed Income Investments [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
26.3 
25.4 
Fixed Income Investments [Member] |
Registered mutual funds, fixed income specialty [Member]
 
 
Defined benefit plan, fair value of pension plan assets
111.0 
132.4 
Fixed Income Investments [Member] |
Registered mutual funds, fixed income specialty [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
0 
Fixed Income Investments [Member] |
Registered mutual funds, fixed income specialty [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
0 
Fixed Income Investments [Member] |
Registered mutual funds, fixed income specialty [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
0 
Fixed Income Investments [Member] |
U.S. Government and Agency Obligations [Member]
 
 
Defined benefit plan, fair value of pension plan assets
517.5 
460.0 
Fixed Income Investments [Member] |
U.S. Government and Agency Obligations [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
0 
Fixed Income Investments [Member] |
U.S. Government and Agency Obligations [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
517.5 
460.0 
Fixed Income Investments [Member] |
U.S. Government and Agency Obligations [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
0 
Fixed Income Investments [Member] |
Corporate and Non-U.S. Bonds [Member]
 
 
Defined benefit plan, fair value of pension plan assets
1,336.8 4
1,178.3 4
Fixed Income Investments [Member] |
Corporate and Non-U.S. Bonds [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 4
0 4
Fixed Income Investments [Member] |
Corporate and Non-U.S. Bonds [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
1,336.8 4
1,178.3 4
Fixed Income Investments [Member] |
Corporate and Non-U.S. Bonds [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 4
0 4
Fixed Income Investments [Member] |
Asset-Backed And Mortgage-Backed Securities [Member]
 
 
Defined benefit plan, fair value of pension plan assets
69.0 
74.0 
Fixed Income Investments [Member] |
Asset-Backed And Mortgage-Backed Securities [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
0 
Fixed Income Investments [Member] |
Asset-Backed And Mortgage-Backed Securities [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
69.0 
74.0 
Fixed Income Investments [Member] |
Asset-Backed And Mortgage-Backed Securities [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
0 
Fixed Income Investments [Member] |
Commingled Funds - Fixed Income Specialty [Member]
 
 
Defined benefit plan, fair value of pension plan assets
131.8 
96.0 
Fixed Income Investments [Member] |
Commingled Funds - Fixed Income Specialty [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
0 
Fixed Income Investments [Member] |
Commingled Funds - Fixed Income Specialty [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
0 
Fixed Income Investments [Member] |
Commingled Funds - Fixed Income Specialty [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 
0 
Fixed Income Investments [Member] |
Other Fixed Income [Member]
 
 
Defined benefit plan, fair value of pension plan assets
26.3 5
25.4 5
Fixed Income Investments [Member] |
Other Fixed Income [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 5
0 5
Fixed Income Investments [Member] |
Other Fixed Income [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
0 5
0 5
Fixed Income Investments [Member] |
Other Fixed Income [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
26.3 5
25.4 5
Gross of receivables and payables [Member]
 
 
Defined benefit plan, fair value of pension plan assets
3,068.5 
2,780.3 
Gross of receivables and payables [Member] |
Fair Value, Inputs, Level 1 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
4.8 
11.8 
Gross of receivables and payables [Member] |
Fair Value, Inputs, Level 2 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
1,958.4 
1,728.4 
Gross of receivables and payables [Member] |
Fair Value, Inputs, Level 3 [Member]
 
 
Defined benefit plan, fair value of pension plan assets
110.2 
97.0 
Net of receivables and payables [Member]
 
 
Defined benefit plan, fair value of pension plan assets
$ 3,063.1 
$ 2,797.1 
Pensions and Postretirement Benefits Other Than Pensions (Schedule of Company's Postretirement Plans Benefit Obligations) (Details) (Postretirement [Member], USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Postretirement [Member]
 
 
Benefit obligation at beginning of year
$ 578.6 
$ 624.1 
Service cost
3.1 
3.7 
Interest cost
15.7 
17.5 
Plan participants' contributions
9.8 
10.2 
Actuarial (gains) losses
(30.2)
(24.4)
Benefits paid, net of Medicare Part D subsidy
(55.4)1
(55.7)1
Other, including expenses paid
0.5 
3.2 
Benefit obligation at end of year
$ 528.0 
$ 578.6 
Pensions and Postretirement Benefits Other Than Pensions (Schedule of Company's Postretirement Plans Funded Status) (Details) (Postretirement [Member], USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
Dec. 31, 2016
Postretirement [Member]
 
 
Amounts included in the balance sheet:
 
 
Accrued compensation and benefits
$ (48.5)
$ (53.3)
Postemployment and other benefit liabilities
(479.5)
(525.3)
Net amount recognized
$ (528.0)
$ (578.6)
Pensions and Postretirement Benefits Other Than Pensions (Schedule of Pretax Amounts Recognized in Accumulated Other Comprehensive Income (Loss) Other Than Pension) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Postretirement [Member]
 
Balance at December 31, 2013
$ 13.5 
Current year changes recorded to Accumulated other comprehensive income (loss)
30.2 
Amortization reclassified to earnings
(8.5)
Currency translation and other
(0.1)
Balance at December 31, 2014
35.1 
Postretirement [Member] |
Net Actuarial Losses [Member]
 
Balance at December 31, 2013
0.8 
Current year changes recorded to Accumulated other comprehensive income (loss)
30.2 
Amortization reclassified to earnings
0.1 
Currency translation and other
(0.1)
Balance at December 31, 2014
31.0 
Postretirement [Member] |
prior service gains [Member]
 
Balance at December 31, 2013
12.7 
Current year changes recorded to Accumulated other comprehensive income (loss)
0 
Amortization reclassified to earnings
(8.6)
Currency translation and other
0 
Balance at December 31, 2014
4.1 
Pension Plans [Member]
 
Balance at December 31, 2013
(912.3)
Current year changes recorded to Accumulated other comprehensive income (loss)
5.6 
Amortization reclassified to earnings
60.6 
Settlements/curtailments reclassified to earnings
7.7 
Currency translation and other
(15.3)
Balance at December 31, 2014
(853.7)
Pension Plans [Member] |
Net Actuarial Losses [Member]
 
Balance at December 31, 2013
(886.8)
Current year changes recorded to Accumulated other comprehensive income (loss)
9.4 
Amortization reclassified to earnings
56.8 
Settlements/curtailments reclassified to earnings
3.0 
Currency translation and other
(15.9)
Balance at December 31, 2014
$ (833.5)
Pensions and Postretirement Benefits Other Than Pensions (Schedule of Net Periodic Postretirement Benefit Cost) (Details) (Postretirement Benefit Costs [Member], USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Service cost
$ 3.1 
$ 3.7 
$ 4.4 
Interest cost
15.7 
17.5 
22.6 
Prior service gains, net amortization of
(8.6)
(8.9)
(8.9)
Plan net actuarial losses, net amortization of
0.1 
0.1 
0.1 
Net periodic benefit cost
10.3 
12.4 
18.2 
Net periodic benefit cost after net curtailment and settlement (gains) losses
10.3 
12.4 
18.2 
Segment, Continuing Operations [Member]
 
 
 
Net periodic benefit cost after net curtailment and settlement (gains) losses
   
   
   
Segment, Discontinued Operations [Member]
 
 
 
Net periodic benefit cost after net curtailment and settlement (gains) losses
$ 1.6 
$ 4.1 
$ 7.2 
Pensions and Postretirement Benefits Other Than Pensions (Schedule of Defined Benefit Plan Weighted Average Discount Rate Assumptions) (Details) (Postretirement [Member])
1 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2015
Dec. 31, 2014
Dec. 31, 2013
Nov. 30, 2015
Nov. 30, 2014
Nov. 30, 2013
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Benefit obligations at December 31
3.88% 
 
 
 
 
 
3.38% 
 
3.88% 
Net periodic benefit cost
2.99% 
2.99% 
3.50% 
3.82% 
3.97% 
3.50% 
 
 
 
Year that the rate reaches the ultimate trend rate
 
 
 
 
 
 
2023 
2023 
2023 
current year medical inflation [Member]
 
 
 
 
 
 
 
 
 
Ultimate inflation rate
7.25% 
 
 
 
 
 
6.85% 
7.25% 
7.25% 
ultimate inflation rate [Member]
 
 
 
 
 
 
 
 
 
Ultimate inflation rate
5.00% 
 
 
 
 
 
5.00% 
5.00% 
5.00% 
Prior to 2012 plan amendment [Member]
 
 
 
 
 
 
 
 
 
Benefit obligations at December 31
 
 
 
 
 
 
 
3.73% 
 
Pensions and Postretirement Benefits Other Than Pensions (Schedule of Change in Medical Trend Rate Assumed for Postretirement Benefits) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Effect on total service and interest cost components, 1% Increase
$ 0.7 
Effect on total service and interest cost components, 1% Decrease
(0.6)
Effect on postretirement benefit obligation, 1% Increase
18.5 
Effect on postretirement benefit obligation, 1% Decrease
$ (16.1)
Pensions and Postretirement Benefits Other Than Pensions (Schedule of Benefit Payments for Postretirement Benefits) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Multiemployer plan, period contributions
$ 9.0 
$ 7.7 
$ 6.7 
Postretirement [Member]
 
 
 
2015
49.4 
 
 
2016
47.7 
 
 
2017
45.8 
 
 
2018
44.3 
 
 
2019
42.3 
 
 
2020-2024
$ 178.7 
 
 
Pensions and Postretirement Benefits Other Than Pensions Pensions and Postretirement Benefits Other Than Pensions (Schedule ofMultiemployer Plans) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Retirement Benefits, Description [Abstract]
 
 
 
Total contributions
$ 9.0 
$ 7.7 
$ 6.7 
Equity (Narrative) (Details)
12 Months Ended 12 Months Ended
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Feb. 1, 2014
USD ($)
Dec. 31, 2017
Par Value US [Member]
USD ($)
Dec. 31, 2017
Par Value Euro [Member]
EUR (€)
Dec. 31, 2017
Ordinary shares [Member]
Par Value US [Member]
Dec. 31, 2017
Ordinary shares [Member]
Par Value Euro [Member]
Dec. 31, 2017
Preferred Stock [Member]
Dec. 31, 2016
Preferred Stock [Member]
Dec. 31, 2017
Accumulated Other Comprehensive Income, Other [Member]
Foreign Currency Gain (Loss) [Member]
USD ($)
Dec. 31, 2016
Accumulated Other Comprehensive Income, Other [Member]
Foreign Currency Gain (Loss) [Member]
USD ($)
Dec. 31, 2015
Accumulated Other Comprehensive Income, Other [Member]
Foreign Currency Gain (Loss) [Member]
USD ($)
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax, Portion Attributable to Noncontrolling Interest
 
 
 
 
 
 
 
 
 
 
$ 500,000 
$ 9,600,000 
$ 4,300,000 
Stock Repurchase Program, Authorized Amount
 
 
 
1,500,000,000 
 
 
 
 
 
 
 
 
 
Stock repurchased and retired during period, value
$ 1,016,900,000 
$ 250,100,000 
$ 250,100,000 
 
 
 
 
 
 
 
 
 
 
Authorized share capital
1,185,040,000 
 
 
 
 
 
 
 
 
 
 
 
 
Number of ordinary shares
 
 
 
 
 
 
1,175,000,000 
40,000 
 
 
 
 
 
Ordinary shares, par value, in dollars or euros per share, as stated
$ 1.00 
$ 1.00 
 
 
$ 1.00 
€ 1.00 
 
 
 
 
 
 
 
Number of preference shares
 
 
 
 
 
 
 
 
10,000,000 
 
 
 
 
Preference shares, par value, in dollars per share
 
 
 
 
$ 0.001 
 
 
 
 
 
 
 
 
Preference shares outstanding
 
 
 
 
 
 
 
 
0 
0 
 
 
 
Equity (Reconciliation of Ordinary Shares) (Details)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Ordinary shares [Member]
 
 
 
Beginning balance, shares
271.7 
269.0 
266.3 
Shares issued under incentive plans
2.3 
 
 
Repurchase of ordinary shares
0 
   
0 
Ending balance, shares
274.0 
271.7 
269.0 
Treasury Stock [Member]
 
 
 
Beginning balance, shares
12.7 
 
 
Shares issued under incentive plans
0 
 
 
Repurchase of ordinary shares
11.8 
 
 
Ending balance, shares
24.5 
 
 
Equity (Changes In Accumulated Other Comprehensive Income (Loss) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Accumulated other comprehensive income (loss)
$ (1,290.5)
$ (1,120.9)
 
Other comprehensive income (loss), net of tax
511.7 
(169.6)
(406.6)
Accumulated other comprehensive income (loss)
(778.8)
(1,290.5)
(1,120.9)
Accumulated Other Comprehensive Income, Other [Member]
 
 
 
Other comprehensive income (loss), net of tax
511.7 
 
 
Cash flow hedges and marketable securities [Member]
 
 
 
Accumulated other comprehensive income (loss)
 
5.1 
 
Other comprehensive income (loss), net of tax
 
(2.2)
 
Accumulated other comprehensive income (loss)
4.7 
2.9 
 
Cash flow hedges and marketable securities [Member] |
Accumulated Other Comprehensive Income, Other [Member]
 
 
 
Other comprehensive income (loss), net of tax
1.8 
 
 
Pension and OPEB Adjustments [Member]
 
 
 
Accumulated other comprehensive income (loss)
 
(630.4)
 
Other comprehensive income (loss), net of tax
 
76.0 
 
Accumulated other comprehensive income (loss)
(494.3)
(554.4)
 
Pension and OPEB Adjustments [Member] |
Accumulated Other Comprehensive Income, Other [Member]
 
 
 
Other comprehensive income (loss), net of tax
60.1 
 
 
Foreign Currency Gain (Loss) [Member]
 
 
 
Accumulated other comprehensive income (loss)
 
(495.6)
 
Other comprehensive income (loss), net of tax
 
(243.4)
 
Accumulated other comprehensive income (loss)
(289.2)
(739.0)
 
Foreign Currency Gain (Loss) [Member] |
Accumulated Other Comprehensive Income, Other [Member]
 
 
 
Other comprehensive income (loss), net of tax
$ 449.8 
 
 
Share-Based Compensation (Narrative) (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Jun. 3, 2009
Total number of shares authorized by the shareholders
 
 
 
20.0 
Remains available for future incentive awards
6.8 
 
 
 
Share-based compensation expense
$ (73.6)
$ (69.6)
$ (62.7)
 
Share-based compensation expense, net of tax
(45.4)
(43.0)
(38.7)
 
Average fair value of stock options granted, in dollars per share
$ 13.46 
$ 9.42 
 
 
Aggregate intrinsic value of options exercised, in USD
72.7 
61.4 
 
 
Percentage Of Awards Applied To Performance Condition
50.00% 
 
 
 
Percentage of Awards Applied to Market Condition
50.00% 
 
 
 
Stock options and RSUs [Member]
 
 
 
 
Vesting period, in years
3 years 
 
 
 
Stock Option [Member]
 
 
 
 
Total unrecognized compensation cost from stock option arrangements granted under the plan, in USD
12.6 
 
 
 
Restricted Stock Units (RSUs) [Member]
 
 
 
 
Total unrecognized compensation cost from stock option arrangements granted under the plan, in USD
18.8 
 
 
 
Performance Shares [Member]
 
 
 
 
Total unrecognized compensation cost from stock option arrangements granted under the plan, in USD
18.9 
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period
3 years 
 
 
 
Stock Options [Member]
 
 
 
 
Share-based compensation expense
$ (19.5)
$ (18.1)
$ (16.3)
 
Share-Based Compensation (Compensation Expenses) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based compensation expense
$ (73.6)
$ (69.6)
$ (62.7)
Tax benefit
28.2 
26.6 
24.0 
Share-based compensation expense, net of tax
45.4 
43.0 
38.7 
Stock Options [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based compensation expense
(19.5)
(18.1)
(16.3)
Restricted Stock Units (RSUs) [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based compensation expense
(26.4)
(26.3)
(24.7)
Performance Shares [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based compensation expense
(23.0)
(19.9)
(20.5)
Deferred Compensation [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based compensation expense
(3.1)
(3.2)
(1.7)
Other [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based compensation expense
1.6 
(2.1)
0.5 
Segment, Continuing Operations [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based compensation expense, net of tax
45.4 
43.0 
38.7 
Segment, Discontinued Operations [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based compensation expense, net of tax
$ 0 
$ 0 
$ 0 
Share-Based Compensation Share-Based Compensation (Fair Value of Stock Options Assumptions) (Details)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dividend yield
2.00% 
2.55% 
Volatility
22.46% 
28.60% 
Risk free rate of return
1.80% 
1.12% 
Expected life
4 years 9 months 20 days 
4 years 9 months 20 days 
Share-Based Compensation (Changes in Options Outstanding Under the Plans) (Details) (USD $)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Ten point seventy four dollars to sixty eight point seventy dollars [Member]
 
 
 
Weighted average remaining life, Outstanding, in years
6 years 7 months 0 days 
 
 
Weighted average remaining life, Exercisable, in years
5 years 1 month 0 days 
 
 
Stock Options [Member]
 
 
 
Shares subject to options, Beginning balance
6,846,895 
6,836,029 
7,502,613 
Shares subject to options, Granted
1,518,335 
1,958,476 
1,457,523 
Shares subject to options, Exercised
(1,789,615)
(1,854,058)
(1,968,725)
Shares subject to options, Cancelled
(220,733)
(93,552)
(155,382)
Shares subject to options, Ending balance
6,354,882 
6,846,895 
6,836,029 
Shares subject to options, Exercisable
3,287,183 
 
 
Weighted average exercise price, Beginning balance, in dollars per share
$ 47.81 
$ 43.46 
$ 36.21 
Weighted average exercise price, Granted, in dollars per share
$ 80.27 
$ 50.04 
$ 66.25 
Weighted average exercise price, Exercised, in dollars per share
$ 42.79 
$ 33.71 
$ 31.33 
Weighted average exercise price, Cancelled, in dollars per share
$ 61.91 
$ 56.22 
$ 61.03 
Weighted average exercise price, Ending Balance, in dollars per share
$ 56.49 
$ 47.81 
$ 43.46 
Weighted average exercise price, Exercisable, in dollars per share
$ 47.05 
 
 
Aggregate intrinsic value, Outstanding, in USD
$ 207.8 
 
 
Aggregate intrinsic value, Exercisable, in USD
$ 138.5 
 
 
Weighted average remaining life, Exercisable, in years
5 years 1 month 0 days 
 
 
Share-Based Compensation (Information Concerning Currently Outstanding and Exercisable Options) (Details) (USD $)
12 Months Ended
Dec. 31, 2017
10.01 - 20.00 [Member]
 
Number of options outstanding, in shares
114,014 
Weighted average remaining life, Outstanding, in years
1 year 1 month 0 days 
Weighted average exercise price, options outstanding, in dollars per share
$ 13.41 
Number of options exercisable, in shares
114,014 
Weighted average remaining life, Exercisable, in years
1 year 1 month 0 days 
Weighted average exercise price, option exercisable, in dollars per share
$ 13.41 
20.01 - 30.00 [Member]
 
Number of options outstanding, in shares
192,486 
Weighted average remaining life, Outstanding, in years
2 years 5 months 0 days 
Weighted average exercise price, options outstanding, in dollars per share
$ 25.50 
Number of options exercisable, in shares
192,486 
Weighted average remaining life, Exercisable, in years
2 years 5 months 0 days 
Weighted average exercise price, option exercisable, in dollars per share
$ 25.50 
30.01 - 40.00 [Member]
 
Number of options outstanding, in shares
766,181 
Weighted average remaining life, Outstanding, in years
3 years 2 months 4 days 
Weighted average exercise price, options outstanding, in dollars per share
$ 34.24 
Number of options exercisable, in shares
766,181 
Weighted average remaining life, Exercisable, in years
3 years 2 months 4 days 
Weighted average exercise price, option exercisable, in dollars per share
$ 34.24 
40.01 - 50.00 [Member]
 
Number of options outstanding, in shares
2,191,425 
Weighted average remaining life, Outstanding, in years
7 years 1 month 0 days 
Weighted average exercise price, options outstanding, in dollars per share
$ 47.84 
Number of options exercisable, in shares
994,766 
Weighted average remaining life, Exercisable, in years
6 years 0 months 0 days 
Weighted average exercise price, option exercisable, in dollars per share
$ 45.24 
50.01 - 60.00 [Member]
 
Number of options outstanding, in shares
683,184 
Weighted average remaining life, Outstanding, in years
5 years 10 months 20 days 
Weighted average exercise price, options outstanding, in dollars per share
$ 59.60 
Number of options exercisable, in shares
662,087 
Weighted average remaining life, Exercisable, in years
5 years 10 months 20 days 
Weighted average exercise price, option exercisable, in dollars per share
$ 59.72 
Sixty point zero one dollars to seventy dollars [Member]
 
Number of options outstanding, in shares
944,661 
Weighted average remaining life, Outstanding, in years
6 years 9 months 0 days 
Weighted average exercise price, options outstanding, in dollars per share
$ 67.05 
Number of options exercisable, in shares
553,808 
Weighted average remaining life, Exercisable, in years
6 years 8 months 0 days 
Weighted average exercise price, option exercisable, in dollars per share
$ 67.09 
Ten point seventy four dollars to sixty eight point seventy dollars [Member]
 
Number of options outstanding, in shares
6,354,882 
Weighted average remaining life, Outstanding, in years
6 years 7 months 10 days 
Weighted average exercise price, options outstanding, in dollars per share
$ 56.49 
Number of options exercisable, in shares
3,287,183 
Weighted average remaining life, Exercisable, in years
5 years 1 month 0 days 
Weighted average exercise price, option exercisable, in dollars per share
$ 47.05 
Share-Based Compensation (RSU Activity During the Year) (Details) (Restricted Stock Units (RSUs) [Member], USD $)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Restricted Stock Units (RSUs) [Member]
 
 
 
Outstanding and unvested, beginning balance, in shares
835,749 
922,611 
1,047,749 
RSUs, granted, in shares
372,443 
486,401 
429,828 
RSUs, vested, in shares
(370,397)
(545,437)
(510,600)
RSUs, cancelled, in shares
(34,096)
(27,826)
(44,366)
Outstanding and unvested, ending balance, in shares
803,699 
835,749 
922,611 
Weighted average grant date fair value, beginning of Period, in dollars per share
$ 56.95 
$ 58.14 
$ 47.60 
Weighted average grant date fair value, granted, in dollars per share
$ 81.09 
$ 51.28 
$ 66.42 
Weighted average grant date fair value, vested, in dollars per share
$ 58.56 
$ 53.84 
$ 43.32 
Weighted average grant date fair value, cancelled, in dollars per share
$ 63.79 
$ 58.19 
$ 59.98 
Weighted average grant date fair value, end of Period, in dollars per share
$ 67.09 
$ 56.95 
$ 58.14 
Share-Based Compensation Share Based Compensation (Performance Shares Rollforward) (Details) (Performance Shares [Member], USD $)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Performance Shares [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Outstanding and unvested, beginning balance, in shares
1,423,796 
1,448,232 
1,784,998 
Weighted average grant date fair value, beginning of Period, in dollars per share
$ 65.34 
$ 63.18 
$ 50.12 
Share based compensation (SARs or Performance shares), granted, in shares
419,404 
597,088 
456,592 
Weighted average grant date fair value, granted, in dollars per share
$ 93.68 
$ 53.82 
$ 79.09 
Performance shares, vested in period, in shares
(353,834)
(462,035)
(723,250)
Performance shares, vested, weighted average grant date fair value
$ 65.35 
$ 46.81 
$ 41.03 
Share based compensation (SARs or Performance shares), cancelled, in shares
(124,830)
(159,489)
(70,108)
Weighted average grant date fair value, cancelled, in dollars per share
$ 73.40 
$ 56.25 
$ 62.76 
Outstanding and unvested, ending balance, in shares
1,364,536 
1,423,796 
1,448,232 
Weighted average grant date fair value, end of Period, in dollars per share
$ 73.31 
$ 65.34 
$ 63.18 
Restructuring Activities (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Restructuring and related cost, incurred cost
$ 61.7 
$ 35.5 
$ 34.1 
Restructuring reserve, current
16.0 
8.3 
5.8 
Non-qualified restructuring charges incurred
1.9 
 
 
Industrial [Member]
 
 
 
Restructuring and related cost, incurred cost
14.5 
20.5 
15.6 
Restructuring reserve, current
$ 6.1 
$ 4.3 
$ 1.9 
Restructuring Activities (Restructuring Charges) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Restructuring and related cost, incurred cost
$ 61.7 
$ 35.5 
$ 34.1 
Additions, net of reversals
45.0 
30.1 
 
Climate Solutions [Member]
 
 
 
Restructuring and related cost, incurred cost
42.3 
6.2 
11.9 
Additions, net of reversals
25.6 
6.8 
 
Industrial Technologies [Member]
 
 
 
Restructuring and related cost, incurred cost
14.5 
20.5 
15.6 
Additions, net of reversals
14.5 
20.5 
 
Corporate and Other [Member]
 
 
 
Restructuring and related cost, incurred cost
4.9 
8.8 
6.6 
Additions, net of reversals
4.9 
2.8 
 
Cost of goods sold [Member]
 
 
 
Restructuring and related cost, incurred cost
46.8 
9.8 
12.5 
selling and administrative expenses [Member]
 
 
 
Restructuring and related cost, incurred cost
$ 14.9 
$ 25.7 
$ 21.6 
Restructuring Activities (Restructuring Reserve) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Restructuring reserve, beginning balance
$ 8.3 
$ 5.8 
Additions, net of reversals
45.0 
30.1 
Cash paid
(37.3)
(27.6)
Restructuring reserve, ending balance
16.0 
8.3 
Climate [Member]
 
 
Restructuring reserve, beginning balance
3.4 
3.7 
Additions, net of reversals
25.6 
6.8 
Cash paid
(21.6)
(7.1)
Restructuring reserve, ending balance
7.4 
3.4 
Industrial [Member]
 
 
Restructuring reserve, beginning balance
4.3 
1.9 
Additions, net of reversals
14.5 
20.5 
Cash paid
(12.7)
(18.1)
Restructuring reserve, ending balance
6.1 
4.3 
Corporate and Other [Member]
 
 
Restructuring reserve, beginning balance
0.6 
0.2 
Additions, net of reversals
4.9 
2.8 
Cash paid
(3.0)
(2.4)
Restructuring reserve, ending balance
$ 2.5 
$ 0.6 
Other, Net (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Foreign Currency Transaction Gain (Loss), before Tax
$ (8.8)
$ (2.0)
$ (36.2)
Proceeds from Equity Method Investment, Distribution
 
 
   
Proceeds from Sale of Equity Method Investments
422.5 
 
 
Equity Method Investment, Realized Gain (Loss) on Disposal
397.8 
 
 
Hussmann Business Equity Ownership [Member]
 
 
 
Earnings (loss) from equity investments
0 
(0.8)
12.6 
March 2014 [Domain]
 
 
 
Gain on Sale of Investments
 
$ 6.0 
 
Other, Net Table (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Interest income
$ 9.4 
$ 8.0 
$ 10.6 
Exchange gain (loss)
(8.8)
(2.0)
(36.2)
Other
(1.2)
(13.3)
25.9 
Other, net
(31.6)
359.6 
(20.8)
Hussmann Business Equity Ownership [Member]
 
 
 
Earnings (loss) from equity investments
$ 0 
$ (0.8)
$ 12.6 
Income Taxes (Narrative) (Details) (USD $)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Income tax holiday, aggregate dollar amount
$ 19,700,000 
$ 23,300,000 
$ 22,600,000 
 
Undistributed earnings
1,000,000,000 
 
 
 
Tax effects of change in permanent reinvestment assertion
52,000,000 
 
 
 
Net operating loss carryforward benefit would be recorded in Additional paid in capital
0 
 
 
 
Excess tax benefit, amount
   
 
 
 
Unrecognized tax benefits
120,500,000 
107,100,000 
174,900,000 
343,800,000 
Unrecognized tax benefits that would impact effective tax rate
80,400,000 
 
 
 
Unrecognized tax benefits, income tax penalties and interest accrued
32,500,000 
33,700,000 
 
 
Unrecognized tax benefits, income tax penalties and interest expense recognized
1,900,000 
2,300,000 
 
 
Tax benefit to continuing operations
80,200,000 
281,500,000 
540,800,000 
 
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit
1,000,000 
 
 
 
Period Changes In Unrecognized Tax Benefit, in months
12 
 
 
 
Settlement of major audit [Member]
 
 
 
 
Tax benefit to continuing operations
65,000,000 
 
 
 
2002 to 2011 tax years [Member]
 
 
 
 
Second Half Of 2015 Expected Cash Outflow From 2015 Tax Settlement
364,000,000 
 
 
 
Additional Withholding Tax Due
230,000,000 
 
 
 
Net Interest On Additional Withholding Tax Due
134,000,000 
 
 
 
Net of anticipated tax benefit
48,000,000 
 
 
 
2002 to 2006 Tax Years [Member]
 
 
 
 
IRS assertion of additional taxes due
774,000,000 
 
 
 
Deposit for IRS tax agreement
412,000,000 
 
 
 
Additional Income Tax Charge On 2015 Tax Settlement
$ 227,000,000 
 
 
 
Income Taxes Schedule of Earnings (Loss) Before Income Taxes (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Income Tax Disclosure [Abstract]
 
 
 
Earnings (loss) before income taxes, United States
$ (17.6)
$ 419.8 
$ 451.6 
Earnings (loss) before income taxes, Non-U.S.
1,435.5 
1,321.5 
796.3 
Earnings (loss) before income taxes
$ 1,417.9 
$ 1,741.3 
$ 1,247.9 
Income Taxes (Schedule of Components of Provision for Income Taxes) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Current tax expense (benefit)
$ 197.6 
$ 315.3 
$ 433.0 
Deferred tax expense (benefit)
(117.4)
(33.8)
107.8 
Benefit (provision) for income taxes
(80.2)
(281.5)
(540.8)
United States [Member]
 
 
 
Current tax expense (benefit)
102.2 
179.6 
300.1 
Deferred tax expense (benefit)
(234.7)
(6.7)
69.0 
Benefit (provision) for income taxes
132.5 
(172.9)
(369.1)
Non-U.S. [Member]
 
 
 
Current tax expense (benefit)
95.4 
135.7 
132.9 
Deferred tax expense (benefit)
117.3 
(27.1)
38.8 
Benefit (provision) for income taxes
$ (212.7)
$ (108.6)
$ (171.7)
Income Taxes (Schedule of Reconciliation Between Statutory and Effective Tax Rate) (Details)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Statutory U.S. rate
35.00% 
35.00% 
35.00% 
Non US tax rate differential
(28.80%)
(14.70%)
(17.20%)
Tax on US subsidiaries on Non US earnings
0.80% 
0.90% 
1.30% 
State and local income taxes
1.20% 
1.40% 
1.50% 
Change in permanent reinvestment assertion
8.40% 
0.00% 
3.90% 
Valuation allowances
2.80% 
0.10% 
1.70% 
Reserves for uncertain tax positions
(0.90%)
0.10% 
14.10% 
Impact of change in taxation of retiree drugs subsidy
0.00% 
(5.70%)
0.00% 
Provision to return and other true-up adjustments
(1.70%)
(0.60%)
0.70% 
Other adjustments
0.50% 
(0.30%)
2.30% 
Effective tax rate
5.70% 
16.20% 
43.30% 
Income Taxes (Schedule of Deferred Tax Accounts) (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Inventory and accounts receivable, deferred tax asset
$ 17.4 
$ 18.2 
 
 
Fixed assets and intangibles, deferred tax asset
10.4 
16.2 
 
 
Postemployment and other benefit liabilities, deferred tax asset
396.5 
652.5 
 
 
Product liability, deferred tax asset
95.4 
151.3 
 
 
Other reserves and accruals, deferred tax asset
134.8 
192.8 
 
 
Net operating losses and credit carryforwards, deferred tax asset
589.0 
528.5 
 
 
Other, deferred tax asset
22.7 
38.6 
 
 
Gross deferred tax assets
1,266.2 
1,598.1 
 
 
Deferred tax valuation allowances
(344.6)
(184.5)
(213.1)
(210.7)
Deferred tax assets net of valuation allowances
921.6 
1,413.6 
 
 
Inventory and accounts receivable, deferred tax liability
(24.1)
(38.8)
 
 
Fixed assets and intangibles, deferred tax liability
(1,237.4)
(1,949.7)
 
 
Postemployment and other benefit liabilities, deferred tax liability
(9.6)
(7.0)
 
 
Other reserves and accruals, deferred tax liability
(1.5)
(1.9)
 
 
Other, deferred tax liability
(11.1)
(8.4)
 
 
Deferred Tax Liabilities, Gross
(1,422.8)
(2,029.8)
 
 
Gross deferred tax liability
$ (501.2)
$ (616.2)
 
 
Income Taxes (Operating Loss and Tax Credit Carryforwards) (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
Dec. 31, 2016
U.S. Federal net operating loss carryforwards
$ 589.0 
$ 528.5 
United States [Member]
 
 
U.S. Federal net operating loss carryforwards
680.0 
 
U.S. credit carryforwards
121.5 
 
State and Local Jurisdiction [Member]
 
 
U.S. credit carryforwards
34.7 
 
U.S. State net operating loss carryforwards
3,484.2 
 
Non-U.S. [Member]
 
 
Non-U.S. net operating loss carryforwards
752.0 
 
Non-U.S. credit carryforwards
$ 8.0 
 
Income Taxes (Valuation Allowance) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Beginning balance
$ 184.5 
$ 213.1 
$ 210.7 
Accumulated other comprehensive income (loss)
2.7 
(4.5)
(4.3)
Ending balance
344.6 
184.5 
213.1 
Increase to valuation allowance [Member]
 
 
 
Valuation allowance change
176.5 
19.4 
40.7 
Decrease to valuation allowance [Member]
 
 
 
Valuation allowance change
$ (19.1)
$ (43.5)
$ (34.0)
Income Taxes (Unrecognized Tax Benefit) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Income Tax Disclosure [Abstract]
 
 
 
Beginning balance
$ 107.1 
$ 174.9 
$ 343.8 
Additions based on tax positions related to the current year
6.2 
5.9 
8.7 
Additions based on tax positions related to prior years
16.8 
29.1 
186.5 
Reductions based on tax positions related to prior years
8.6 
37.6 
102.2 
Reductions related to settlements with tax authorities
4.8 
60.9 
251.0 
Reductions related to lapses of statute of limitations
1.3 
2.8 
3.7 
Translation (gain)/loss
5.1 
(1.5)
(7.2)
Ending balance
$ 120.5 
$ 107.1 
$ 174.9 
Divestitures (Narrative) (Details) (USD $)
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2008
Tax charges from spinoff
$ (8,600,000)
$ (4,800,000)
$ 1,100,000 
 
Goodwill, Impairment Loss
0 
0 
 
2,496,000,000 
Change in noncontrolling interest from distribution
15,800,000 
14,100,000 
9,400,000 
 
Gain (loss) on sale/asset impairment
$ (8,400,000)
$ 0 
$ 0 
 
Divestitures and Discontinued Operations (Summary of Financial Information for Discontinued Operations) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
 
Pre-tax earnings (loss) from operations
$ (34.0)
$ 28.1 
$ (23.2)
Tax benefit (expense)
8.6 
4.8 
(1.1)
Discontinued operations, net of tax
$ (25.4)
$ 32.9 
$ (24.3)
Discontinued Operations by Business (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
 
Discontinued operations, net of tax
$ (25.4)
$ 32.9 
$ (24.3)
Divestitures and Discontinued Operations (Net Revenues and After-Tax Earnings) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Discontinued operations, net of tax
$ (25.4)
$ 32.9 
$ (24.3)
Divestitures and Discontinued Operations (Schedule of Other Discontinued Operations) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Discontinued operations, net of tax
$ (25.4)
$ 32.9 
$ (24.3)
Acquisitions and Divestitures Divestiture - Net earnings (loss) schedule (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
 
Net revenues
$ 14,197.6 
$ 13,508.9 
$ 13,300.7 
Gain (loss) on sale/asset impairment
(8.4)
0 
0 
Net earnings (loss) attributable to Ingersoll-Rand plc
$ 1,302.6 
$ 1,476.2 
$ 664.6 
Earnings Per Share, Diluted
$ 5.05 
$ 5.65 
$ 2.48 
Acquisitions Net Assets Acquired (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
Dec. 31, 2016
Jan. 1, 2015
January 2015 [Domain]
Business Combinations [Abstract]
 
 
 
Goodwill
$ 5,935.7 
$ 5,658.4 
$ 431.0 
Acquisitions (Narrative) (Details)
In Millions, unless otherwise specified
12 Months Ended 12 Months Ended
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2017
January 2015 [Domain]
USD ($)
Jan. 1, 2015
January 2015 [Domain]
USD ($)
Mar. 4, 2015
March 2015 [Domain]
USD ($)
Dec. 31, 2017
March 2015 [Domain]
Euro Member Countries, Euro
EUR (€)
Dec. 31, 2017
March 2015 [Domain]
United States of America, Dollars
USD ($)
Business Acquisition [Line Items]
 
 
 
 
 
 
 
Goodwill
$ 5,935.7 
$ 5,658.4 
 
$ 431.0 
$ 64.3 
 
 
Business Combination, Consideration Transferred, Including Equity Interest in Acquiree Held Prior to Combination
 
 
850 
 
 
100 
113 
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill
 
 
 
 
$ 43.9 
 
 
Earnings Per Share (EPS) (Details)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Weighted-average number of basic shares
254.9 
259.2 
265.1 
Shares issuable under incentive stock plans
3.2 
2.5 
2.7 
Weighted-average number of diluted shares
258.1 
261.7 
267.8 
Anti-dilutive shares
1.6 
1.2 
2.1 
Commitments and Contingencies (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Extended Product Warranty Accrual, Current
$ 96.5 
$ 100.0 
 
Reserves for environmental matters
41.9 
41.3 
 
Maximum annual inflation rate
2.50% 
 
 
Minimum annual inflation rate
1.50% 
 
 
Percentage of non-malignant claims, minimum
80.00% 
 
 
Total rental expense
241.8 
230.4 
166.7 
Minimum lease payments, due in current year
194.3 
 
 
Minimum lease payments, due in second year
143.4 
 
 
Minimum lease payments, due in third year
112.0 
 
 
Minimum lease payments, due in fourth year
76.2 
 
 
Minimum lease payments, due in fifth year
49.6 
 
 
Commitments and performance guarantees
400.0 
 
 
Segment, Discontinued Operations [Member]
 
 
 
Reserves for environmental matters
36.8 
37.2 
 
Asbestos Issue [Member]
 
 
 
Total Asset For Probable Asbestos Related Insurance Recoveries
266.4 
272.5 
 
Asbestos Issue [Member] |
IR New Jersey [Member]
 
 
 
Total Asset For Probable Asbestos Related Insurance Recoveries
138.5 
129.6 
 
Asbestos Issue [Member] |
Trane [Member]
 
 
 
Total Asset For Probable Asbestos Related Insurance Recoveries
$ 127.9 
$ 142.9 
 
Commitments and Contingencies (Standard Product Warranty Liability) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Balance at beginning of period
$ 261.6 
$ 262.0 
Reductions for payments
140.5 
142.3 
Accruals for warranties issued during the current period
141.9 
141.4 
Standard Product Warranty Accrual, Additions from Business Acquisition
0 
0 
Changes to accruals related to preexisting warranties
2.2 
2.5 
Translation
5.3 
(2.0)
Balance at end of period
270.5 
261.6 
Total current standard product warranty reserve
$ 144.5 
$ 148.7 
Commitments and Contingencies Commitments and Contingencies (Extended Product Warranty Liability) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Extended Product Warranty Accrual, Current
$ 96.5 
$ 100.0 
Extended Warranty [Member]
 
 
Balance at beginning of period
295.9 
311.6 
Amortization of deferred revenue for the period
(107.2)
(111.0)
Additions for extended warranties issued during the period
100.8 
97.3 
Changes to accruals related to preexisting warranties
1.3 
(1.7)
Translation
2.2 
(0.3)
Balance at end of period
293.0 
295.9 
Extended warranty incurred costs
$ 60.7 
$ 60.1 
Business Segment Information (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Gain (loss) on sale/asset impairment
$ (8.4)
$ 0 
$ 0 
Business Segment Information (Summary of Operations by Reportable Segments) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Net revenues
$ 14,197.6 
$ 13,508.9 
$ 13,300.7 
Segment Operating Income
1,930.3 
1,837.8 
1,692.7 
Capital expenditures
221.3 
182.7 
249.6 
Gain (loss) on sale/asset impairment
(8.4)
0 
0 
Operating income (loss)
1,665.3 
1,603.2 
1,491.7 
Operating income (loss) as a percentage of revenues
11.70% 
11.90% 
11.20% 
Depreciation and amortization
353.3 
352.2 
364.1 
Climate [Member]
 
 
 
Net revenues
11,167.5 
10,545.0 
10,224.3 
Segment Operating Income
1,572.7 
1,537.5 
1,314.4 
Segment Operating Income As a Percentage Of Revenues
14.10% 
14.60% 
12.90% 
Capital expenditures
103.8 
78.2 
83.9 
Depreciation and amortization
247.6 
225.2 
246.3 
Industrial [Member]
 
 
 
Net revenues
3,030.1 
2,963.9 
3,076.4 
Segment Operating Income
357.6 
300.3 
378.3 
Segment Operating Income As a Percentage Of Revenues
11.80% 
10.10% 
12.30% 
Capital expenditures
57.4 
36.3 
51.8 
Depreciation and amortization
77.3 
67.2 
67.5 
Segment Reconciling Items [Member]
 
 
 
Capital expenditures
60.1 
68.2 
113.9 
Operating Expenses
(265.0)
(234.6)
(201.0)
Depreciation and amortization
28.4 
59.8 
50.3 
Operating Segments [Member]
 
 
 
Capital expenditures
161.2 
114.5 
135.7 
Depreciation and amortization
$ 324.9 
$ 292.4 
$ 313.8 
Business Segment Information (Schedule of Revenues by Destination) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Net revenues
$ 14,197.6 
$ 13,508.9 
$ 13,300.7 
UnitedStates [Member]
 
 
 
Revenues
9,215.3 
8,720.7 
8,291.2 
Non-U.S. [Member]
 
 
 
Revenues
$ 4,982.3 
$ 4,788.2 
$ 5,009.5 
Business Segment Information (Schedule of Long-Lived Asset by Geographic Area) (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
Dec. 31, 2016
Long-Lived Assets
$ 2,636.6 
$ 2,643.8 
UNITED STATES
 
 
Long-Lived Assets
984.8 
2,040.7 
Non-U.S. [Member]
 
 
Long-Lived Assets
$ 1,651.8 
$ 603.1 
Business Segment Information Revenue by major product/solution (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenue from External Customer [Line Items]
 
 
 
Net revenues
$ 14,197.6 
$ 13,508.9 
$ 13,300.7 
All Other [Member]
 
 
 
Revenue from External Customer [Line Items]
 
 
 
Revenues
   
1,078.8 
1,144.0 
Compressed Air Systems & Services [Member]
 
 
 
Revenue from External Customer [Line Items]
 
 
 
Revenues
   
1,885.1 
1,932.5 
Residential HVAC [Member]
 
 
 
Revenue from External Customer [Line Items]
 
 
 
Revenues
   
2,015.5 
1,842.6 
Transport Refrigeration [Member]
 
 
 
Revenue from External Customer [Line Items]
 
 
 
Revenues
   
2,050.1 
2,147.8 
Commercial HVAC [Member]
 
 
 
Revenue from External Customer [Line Items]
 
 
 
Revenues
    
$ 6,479.4 
$ 6,233.8 
Guarantor Financial Information (Narrative) (Details) (USD $)
In Billions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
6.875% Senior Notes Due 2018 [Member]
Dec. 31, 2016
6.875% Senior Notes Due 2018 [Member]
Dec. 31, 2017
2.875% Senior Notes Due 2019 [Member]
Dec. 31, 2016
2.875% Senior Notes Due 2019 [Member]
Dec. 31, 2017
4.250% Senior Notes Due 2013 [Member]
Dec. 31, 2016
4.250% Senior Notes Due 2013 [Member]
Dec. 31, 2017
5.750% Senior Notes Due 2043 [Member]
Dec. 31, 2016
5.750% Senior Notes Due 2043 [Member]
Dec. 31, 2017
9.00% Debentures Due 2021 [Member]
Dec. 31, 2016
9.00% Debentures Due 2021 [Member]
Dec. 31, 2017
7.20% Debentures Due 2014-2025 [Member]
Dec. 31, 2016
7.20% Debentures Due 2014-2025 [Member]
Dec. 31, 2017
6.48% Debentures Due 2025 [Member]
Dec. 31, 2016
6.48% Debentures Due 2025 [Member]
Dec. 31, 2017
6.625% Percent Senior Notes Due Two Thousand Twenty [Member]
Dec. 31, 2016
6.625% Percent Senior Notes Due Two Thousand Twenty [Member]
Dec. 31, 2017
2.625 Percent Notes Due 2020 [Member]
Dec. 31, 2017
3.55% Senior Notes due 2024 [Member]
Dec. 31, 2016
3.55% Senior Notes due 2024 [Member]
Dec. 31, 2017
4.650% Percent Senior Notes due Twenty Forty Four [Member]
Dec. 31, 2016
4.650% Percent Senior Notes due Twenty Forty Four [Member]
Dec. 31, 2017
Subsidiary Of Lux International [Member]
Irish Holdings [Member]
Dec. 31, 2017
Lux International [Member]
Irish Holdings [Member]
Dec. 31, 2016
Lux International [Member]
International Holdings [Member]
Intercompany note payable
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 19.5 
$ 19.5 
Debt instrument, interest rate
6.875% 
6.875% 
2.875% 
2.875% 
4.25% 
4.25% 
5.75% 
5.75% 
9.00% 
9.00% 
7.20% 
7.20% 
6.48% 
6.48% 
2.625% 
2.625% 
2.625% 
3.55% 
3.55% 
4.65% 
4.65% 
 
 
 
Due to Related Parties
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 6.2 
$ 6.4 
 
Guarantor Financial Information (Condensed Consolidating Statement of Comprehensive Income) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Net revenues
$ 14,197.6 
$ 13,508.9 
$ 13,300.7 
Cost of goods sold
(9,811.6)
(9,307.9)
(9,277.4)
Selling and administrative expenses
(2,720.7)
(2,597.8)
(2,531.6)
Gain (loss) on sale/asset impairment
(8.4)
0 
0 
Operating Income (Loss)
1,665.3 
1,603.2 
1,491.7 
Equity earnings (loss) in affiliates, net of tax
0 
0 
0 
Interest expense
(215.8)
(221.5)
(223.0)
Intercompany Interest And Fees
0 
0 
0 
Other, net
(31.6)
359.6 
(20.8)
Earnings (loss) before income taxes
1,417.9 
1,741.3 
1,247.9 
Benefit (provision) for income taxes
(80.2)
(281.5)
(540.8)
Earnings (loss) from continuing operations
1,337.7 
1,459.8 
707.1 
Discontinued operations, net of tax
(25.4)
32.9 
(24.3)
Net earnings
1,312.3 
1,492.7 
682.8 
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest
1,824.5 
1,332.7 
271.9 
Less: Net earnings attributable to noncontrolling interests
(9.7)
(16.5)
(18.2)
Net earnings (loss) attributable to Ingersoll-Rand plc
1,302.6 
1,476.2 
664.6 
Other comprehensive income (loss), net of tax
511.7 
(169.6)
(406.6)
Total comprehensive income (loss) attributable to Ingersoll-Rand plc
1,814.3 
1,306.6 
258.0 
Plc [Member]
 
 
 
Net revenues
0 
0 
0 
Cost of goods sold
0 
0 
0 
Selling and administrative expenses
(15.6)
(16.9)
(18.9)
Operating Income (Loss)
(15.6)
(16.9)
(18.9)
Equity earnings (loss) in affiliates, net of tax
1,349.2 
1,559.7 
706.8 
Interest expense
0 
0 
0 
Intercompany Interest And Fees
(33.1)
(69.2)
(26.7)
Other, net
0 
0.9 
1.4 
Earnings (loss) before income taxes
1,300.5 
1,474.5 
662.6 
Benefit (provision) for income taxes
2.1 
1.7 
2.0 
Earnings (loss) from continuing operations
1,302.6 
1,476.2 
664.6 
Discontinued operations, net of tax
0 
0 
0 
Net earnings
1,302.6 
1,476.2 
664.6 
Less: Net earnings attributable to noncontrolling interests
0 
0 
0 
Net earnings (loss) attributable to Ingersoll-Rand plc
1,302.6 
1,476.2 
664.6 
Other comprehensive income (loss), net of tax
511.7 
(169.6)
(406.6)
Total comprehensive income (loss) attributable to Ingersoll-Rand plc
1,814.3 
1,306.6 
258.0 
Irish Holdings [Member]
 
 
 
Net revenues
0 
0 
0 
Cost of goods sold
0 
0 
0 
Selling and administrative expenses
0 
0 
0 
Operating Income (Loss)
0 
0 
0 
Equity earnings (loss) in affiliates, net of tax
1,334.7 
1,544.0 
710.6 
Interest expense
0 
0 
0 
Intercompany Interest And Fees
0 
0 
(0.2)
Other, net
0 
0 
0 
Earnings (loss) before income taxes
1,334.7 
1,544.0 
710.4 
Benefit (provision) for income taxes
0 
0 
0 
Earnings (loss) from continuing operations
1,334.7 
1,544.0 
710.4 
Discontinued operations, net of tax
0 
0 
0 
Net earnings
1,334.7 
1,544.0 
710.4 
Less: Net earnings attributable to noncontrolling interests
0 
0 
0 
Net earnings (loss) attributable to Ingersoll-Rand plc
1,334.7 
1,544.0 
710.4 
Other comprehensive income (loss), net of tax
510.3 
(168.5)
(406.0)
Total comprehensive income (loss) attributable to Ingersoll-Rand plc
1,845.0 
1,375.5 
304.4 
Lux International [Member]
 
 
 
Net revenues
0 
0 
0 
Cost of goods sold
0 
0 
0 
Selling and administrative expenses
(0.1)
(0.2)
(0.1)
Operating Income (Loss)
(0.1)
(0.2)
(0.1)
Equity earnings (loss) in affiliates, net of tax
982.3 
1,463.4 
570.6 
Interest expense
0 
0 
0 
Intercompany Interest And Fees
253.0 
(46.4)
(21.4)
Other, net
0.1 
0 
0.1 
Earnings (loss) before income taxes
1,235.3 
1,416.8 
549.2 
Benefit (provision) for income taxes
0 
3.0 
(9.1)
Earnings (loss) from continuing operations
1,235.3 
1,419.8 
540.1 
Discontinued operations, net of tax
0 
0 
0 
Net earnings
1,235.3 
1,419.8 
540.1 
Less: Net earnings attributable to noncontrolling interests
0 
0 
0 
Net earnings (loss) attributable to Ingersoll-Rand plc
1,235.3 
1,419.8 
540.1 
Other comprehensive income (loss), net of tax
472.5 
(166.8)
(229.1)
Total comprehensive income (loss) attributable to Ingersoll-Rand plc
1,707.8 
1,253.0 
311.0 
Global Holding [Member]
 
 
 
Net revenues
0 
0 
0 
Cost of goods sold
0 
0 
0 
Selling and administrative expenses
(1.2)
(0.1)
(0.1)
Operating Income (Loss)
(1.2)
(0.1)
(0.1)
Equity earnings (loss) in affiliates, net of tax
565.3 
609.4 
301.7 
Interest expense
(127.0)
(127.0)
(127.6)
Intercompany Interest And Fees
(493.9)
(164.5)
(28.6)
Other, net
0 
0 
0 
Earnings (loss) before income taxes
(56.8)
317.8 
145.4 
Benefit (provision) for income taxes
247.2 
115.6 
58.0 
Earnings (loss) from continuing operations
190.4 
433.4 
203.4 
Discontinued operations, net of tax
0 
0 
0 
Net earnings
190.4 
433.4 
203.4 
Less: Net earnings attributable to noncontrolling interests
0 
0 
0 
Net earnings (loss) attributable to Ingersoll-Rand plc
190.4 
433.4 
203.4 
Other comprehensive income (loss), net of tax
369.3 
(161.1)
(91.4)
Total comprehensive income (loss) attributable to Ingersoll-Rand plc
559.7 
272.3 
112.0 
New Jersey [Member]
 
 
 
Net revenues
1,336.6 
1,327.2 
1,427.9 
Cost of goods sold
(957.9)
(982.2)
(1,031.7)
Selling and administrative expenses
(401.7)
(352.5)
(303.5)
Operating Income (Loss)
(23.0)
(7.5)
92.7 
Equity earnings (loss) in affiliates, net of tax
1,212.5 
808.7 
693.7 
Interest expense
(47.2)
(47.9)
(48.3)
Intercompany Interest And Fees
(500.9)
(277.2)
(270.6)
Other, net
(5.8)
(13.8)
(9.1)
Earnings (loss) before income taxes
635.6 
462.3 
458.4 
Benefit (provision) for income taxes
(42.4)
117.3 
(125.5)
Earnings (loss) from continuing operations
593.2 
579.6 
332.9 
Discontinued operations, net of tax
(27.9)
30.4 
(31.4)
Net earnings
565.3 
610.0 
301.5 
Less: Net earnings attributable to noncontrolling interests
0 
0 
0 
Net earnings (loss) attributable to Ingersoll-Rand plc
565.3 
610.0 
301.5 
Other comprehensive income (loss), net of tax
368.8 
(161.5)
(91.9)
Total comprehensive income (loss) attributable to Ingersoll-Rand plc
934.1 
448.5 
209.6 
Lux Finance [Member]
 
 
 
Net revenues
0 
0 
0 
Cost of goods sold
0 
0 
0 
Selling and administrative expenses
(0.2)
(0.5)
(0.6)
Operating Income (Loss)
(0.2)
(0.5)
(0.6)
Equity earnings (loss) in affiliates, net of tax
107.9 
1,521.1 
359.2 
Interest expense
(41.0)
(42.6)
(42.8)
Intercompany Interest And Fees
(8.2)
(6.8)
(2.4)
Other, net
0 
0 
0 
Earnings (loss) before income taxes
58.5 
1,471.2 
313.4 
Benefit (provision) for income taxes
0 
0 
0 
Earnings (loss) from continuing operations
58.5 
1,471.2 
313.4 
Discontinued operations, net of tax
0 
0 
0 
Net earnings
58.5 
1,471.2 
313.4 
Less: Net earnings attributable to noncontrolling interests
0 
0 
0 
Net earnings (loss) attributable to Ingersoll-Rand plc
58.5 
1,471.2 
313.4 
Other comprehensive income (loss), net of tax
102.1 
5.0 
(88.0)
Total comprehensive income (loss) attributable to Ingersoll-Rand plc
160.6 
1,476.2 
225.4 
Other [Member]
 
 
 
Net revenues
13,216.7 
12,533.9 
12,259.0 
Cost of goods sold
(9,209.4)
(8,677.9)
(8,631.9)
Selling and administrative expenses
(2,301.9)
(2,227.6)
(2,208.4)
Operating Income (Loss)
1,705.4 
1,628.4 
1,418.7 
Equity earnings (loss) in affiliates, net of tax
0 
0 
0 
Interest expense
(0.6)
(4.0)
(4.3)
Intercompany Interest And Fees
783.1 
564.1 
349.9 
Other, net
(25.9)
372.5 
(13.2)
Earnings (loss) before income taxes
2,462.0 
2,561.0 
1,751.1 
Benefit (provision) for income taxes
(287.1)
(519.1)
(466.2)
Earnings (loss) from continuing operations
2,174.9 
2,041.9 
1,284.9 
Discontinued operations, net of tax
2.5 
2.5 
7.1 
Net earnings
2,177.4 
2,044.4 
1,292.0 
Less: Net earnings attributable to noncontrolling interests
(9.7)
(16.5)
(18.2)
Net earnings (loss) attributable to Ingersoll-Rand plc
2,167.7 
2,027.9 
1,273.8 
Other comprehensive income (loss), net of tax
499.0 
33.3 
(411.7)
Total comprehensive income (loss) attributable to Ingersoll-Rand plc
2,666.7 
2,061.2 
862.1 
Eliminations [Member]
 
 
 
Net revenues
(355.7)
(352.2)
(386.2)
Cost of goods sold
355.7 
352.2 
386.2 
Selling and administrative expenses
0 
0 
0 
Operating Income (Loss)
0 
0 
0 
Equity earnings (loss) in affiliates, net of tax
(5,551.9)
(7,506.3)
(3,342.6)
Interest expense
0 
0 
0 
Intercompany Interest And Fees
0 
0 
0 
Other, net
0 
0 
0 
Earnings (loss) before income taxes
(5,551.9)
(7,506.3)
(3,342.6)
Benefit (provision) for income taxes
0 
0 
0 
Earnings (loss) from continuing operations
(5,551.9)
(7,506.3)
(3,342.6)
Discontinued operations, net of tax
0 
0 
0 
Net earnings
(5,551.9)
(7,506.3)
(3,342.6)
Less: Net earnings attributable to noncontrolling interests
0 
0 
0 
Net earnings (loss) attributable to Ingersoll-Rand plc
(5,551.9)
(7,506.3)
(3,342.6)
Other comprehensive income (loss), net of tax
(2,322.0)
619.6 
1,318.1 
Total comprehensive income (loss) attributable to Ingersoll-Rand plc
$ (7,873.9)
$ (6,886.7)
$ (2,024.5)
Guarantor Financial Information (Condensed Consolidating Balance Sheet) (Details) (USD $)
In Millions, unless otherwise specified
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Current assets:
 
 
 
 
Cash and cash equivalents
$ 1,549.4 
$ 1,714.7 
$ 736.8 
$ 1,705.2 
Accounts and notes receivable, net
2,477.4 
2,223.0 
 
 
Inventories
1,555.4 
1,385.8 
 
 
Other current assets
536.9 
255.8 
 
 
Intercompany receivables
0 
0 
 
 
Total current assets
6,119.1 
5,579.3 
 
 
Property, plant and equipment, net
1,551.3 
1,511.0 
 
 
Intangible assets, net
9,678.6 
9,443.5 
 
 
Other assets, net
824.3 
863.6 
 
 
Investments in consolidated subsidiaries
0 
0 
 
 
Intercompany notes receivable
0 
0 
 
 
Total assets
18,173.3 
17,397.4 
 
 
Current liabilities:
 
 
 
 
Accounts payable and accruals
3,721.0 
3,229.5 
 
 
Short-term borrowings and current maturities of long-term debt
1,107.0 
360.8 
 
 
Intercompany accounts payable
0 
0 
 
 
Total current liabilities
4,828.0 
3,590.3 
 
 
Long-term debt
2,957.0 
3,709.4 
 
 
Other noncurrent liabilities
3,181.4 
3,379.4 
 
 
Intercompany notes payable
0 
0 
 
 
Total liabilities
10,966.4 
10,679.1 
 
 
Equity:
 
 
 
 
Total equity
7,206.9 
6,718.3 
5,879.2 
6,045.4 
Total liabilities and equity
18,173.3 
17,397.4 
 
 
Plc [Member]
 
 
 
 
Current assets:
 
 
 
 
Cash and cash equivalents
0 
0 
0 
0 
Accounts and notes receivable, net
0 
0 
 
 
Inventories
0 
0 
 
 
Other current assets
0.2 
0.2 
 
 
Intercompany receivables
1,819.1 
122.3 
 
 
Total current assets
1,819.3 
122.5 
 
 
Property, plant and equipment, net
0 
0 
 
 
Intangible assets, net
0 
0 
 
 
Other assets, net
0 
0.2 
 
 
Investments in consolidated subsidiaries
7,318.1 
7,588.1 
 
 
Intercompany notes receivable
0 
0 
 
 
Total assets
9,137.4 
7,710.8 
 
 
Current liabilities:
 
 
 
 
Accounts payable and accruals
8.5 
7.7 
 
 
Short-term borrowings and current maturities of long-term debt
0 
0 
 
 
Intercompany accounts payable
1,988.3 
1,059.3 
 
 
Total current liabilities
1,996.8 
1,067.0 
 
 
Long-term debt
0 
0 
 
 
Other noncurrent liabilities
0.3 
0 
 
 
Intercompany notes payable
0 
0 
 
 
Total liabilities
1,997.1 
1,067.0 
 
 
Equity:
 
 
 
 
Total equity
7,140.3 
6,643.8 
 
 
Total liabilities and equity
9,137.4 
7,710.8 
 
 
Irish Holdings [Member]
 
 
 
 
Current assets:
 
 
 
 
Cash and cash equivalents
0 
0 
0 
0 
Accounts and notes receivable, net
0 
0 
 
 
Inventories
0 
0 
 
 
Other current assets
0 
0 
 
 
Intercompany receivables
9,912.2 
0 
 
 
Total current assets
9,912.2 
0 
 
 
Property, plant and equipment, net
0 
0 
 
 
Intangible assets, net
0 
0 
 
 
Other assets, net
0 
0 
 
 
Investments in consolidated subsidiaries
1,684.2 
1,500.4 
 
 
Intercompany notes receivable
0 
12,560.2 
 
 
Total assets
11,596.4 
14,060.6 
 
 
Current liabilities:
 
 
 
 
Accounts payable and accruals
0 
0 
 
 
Short-term borrowings and current maturities of long-term debt
0 
0 
 
 
Intercompany accounts payable
0 
0 
 
 
Total current liabilities
0 
0 
 
 
Long-term debt
0 
0 
 
 
Other noncurrent liabilities
0 
0 
 
 
Intercompany notes payable
0 
0 
 
 
Total liabilities
0 
0 
 
 
Equity:
 
 
 
 
Total equity
11,596.4 
14,060.6 
 
 
Total liabilities and equity
11,596.4 
14,060.6 
 
 
Lux International [Member]
 
 
 
 
Current assets:
 
 
 
 
Cash and cash equivalents
0.6 
0 
0 
1.1 
Accounts and notes receivable, net
0 
0 
 
 
Inventories
0 
0 
 
 
Other current assets
5.7 
5.3 
 
 
Intercompany receivables
2,036.8 
5.6 
 
 
Total current assets
2,043.1 
10.9 
 
 
Property, plant and equipment, net
0 
0 
 
 
Intangible assets, net
0 
0 
 
 
Other assets, net
0 
0 
 
 
Investments in consolidated subsidiaries
2,953.9 
3,267.1 
 
 
Intercompany notes receivable
0 
0 
 
 
Total assets
4,997.0 
3,278.0 
 
 
Current liabilities:
 
 
 
 
Accounts payable and accruals
0.2 
0.2 
 
 
Short-term borrowings and current maturities of long-term debt
0 
0 
 
 
Intercompany accounts payable
9,316.7 
3,400.1 
 
 
Total current liabilities
9,316.9 
3,400.3 
 
 
Long-term debt
0 
0 
 
 
Other noncurrent liabilities
0 
0 
 
 
Intercompany notes payable
0 
6,376.3 
 
 
Total liabilities
9,316.9 
9,776.6 
 
 
Equity:
 
 
 
 
Total equity
(4,319.9)
(6,498.6)
 
 
Total liabilities and equity
4,997.0 
3,278.0 
 
 
Global Holding [Member]
 
 
 
 
Current assets:
 
 
 
 
Cash and cash equivalents
0 
0 
11.4 
0 
Accounts and notes receivable, net
0 
0 
 
 
Inventories
0 
0 
 
 
Other current assets
112.6 
0.7 
 
 
Intercompany receivables
0 
271.6 
 
 
Total current assets
112.6 
272.3 
 
 
Property, plant and equipment, net
0 
0 
 
 
Intangible assets, net
0 
0 
 
 
Other assets, net
185.4 
262.4 
 
 
Investments in consolidated subsidiaries
10,480.3 
7,270.2 
 
 
Intercompany notes receivable
0 
0 
 
 
Total assets
10,778.3 
7,804.9 
 
 
Current liabilities:
 
 
 
 
Accounts payable and accruals
27.3 
36.3 
 
 
Short-term borrowings and current maturities of long-term debt
749.6 
0 
 
 
Intercompany accounts payable
5,481.1 
1,068.2 
 
 
Total current liabilities
6,258.0 
1,104.5 
 
 
Long-term debt
1,539.9 
2,286.3 
 
 
Other noncurrent liabilities
92.4 
18.2 
 
 
Intercompany notes payable
0 
1,817.2 
 
 
Total liabilities
7,890.3 
5,226.2 
 
 
Equity:
 
 
 
 
Total equity
2,888.0 
2,578.7 
 
 
Total liabilities and equity
10,778.3 
7,804.9 
 
 
New Jersey [Member]
 
 
 
 
Current assets:
 
 
 
 
Cash and cash equivalents
359.3 
634.6 
0 
425.4 
Accounts and notes receivable, net
166.5 
171.0 
 
 
Inventories
168.5 
165.3 
 
 
Other current assets
76.2 
69.4 
 
 
Intercompany receivables
1,849.9 
220.5 
 
 
Total current assets
2,620.4 
1,260.8 
 
 
Property, plant and equipment, net
310.6 
445.9 
 
 
Intangible assets, net
436.0 
414.7 
 
 
Other assets, net
471.1 
676.3 
 
 
Investments in consolidated subsidiaries
10,923.7 
15,273.4 
 
 
Intercompany notes receivable
0 
0 
 
 
Total assets
14,761.8 
18,071.1 
 
 
Current liabilities:
 
 
 
 
Accounts payable and accruals
572.3 
525.1 
 
 
Short-term borrowings and current maturities of long-term debt
350.4 
350.4 
 
 
Intercompany accounts payable
1,790.0 
6,285.6 
 
 
Total current liabilities
2,712.7 
7,161.1 
 
 
Long-term debt
326.8 
334.2 
 
 
Other noncurrent liabilities
1,251.8 
1,280.8 
 
 
Intercompany notes payable
0 
2,034.6 
 
 
Total liabilities
4,291.3 
10,810.7 
 
 
Equity:
 
 
 
 
Total equity
10,470.5 
7,260.4 
 
 
Total liabilities and equity
14,761.8 
18,071.1 
 
 
Lux Finance [Member]
 
 
 
 
Current assets:
 
 
 
 
Cash and cash equivalents
0 
0 
0.1 
0 
Accounts and notes receivable, net
0 
0 
 
 
Inventories
0 
0 
 
 
Other current assets
0 
0 
 
 
Intercompany receivables
0 
0 
 
 
Total current assets
0 
0 
 
 
Property, plant and equipment, net
0 
0 
 
 
Intangible assets, net
0 
0 
 
 
Other assets, net
0 
0 
 
 
Investments in consolidated subsidiaries
1,150.9 
1,090.4 
 
 
Intercompany notes receivable
0 
0 
 
 
Total assets
1,150.9 
1,090.4 
 
 
Current liabilities:
 
 
 
 
Accounts payable and accruals
6.9 
7.0 
 
 
Short-term borrowings and current maturities of long-term debt
0 
0 
 
 
Intercompany accounts payable
523.3 
486.9 
 
 
Total current liabilities
530.2 
493.9 
 
 
Long-term debt
1,089.7 
1,088.3 
 
 
Other noncurrent liabilities
0 
0 
 
 
Intercompany notes payable
0 
0 
 
 
Total liabilities
1,619.9 
1,582.2 
 
 
Equity:
 
 
 
 
Total equity
(469.0)
(491.8)
 
 
Total liabilities and equity
1,150.9 
1,090.4 
 
 
Other [Member]
 
 
 
 
Current assets:
 
 
 
 
Cash and cash equivalents
1,189.5 
1,080.1 
725.3 
1,278.7 
Accounts and notes receivable, net
2,310.9 
2,052.0 
 
 
Inventories
1,386.9 
1,220.5 
 
 
Other current assets
342.2 
189.3 
 
 
Intercompany receivables
5,014.8 
11,747.9 
 
 
Total current assets
10,244.3 
16,289.8 
 
 
Property, plant and equipment, net
1,240.7 
1,065.1 
 
 
Intangible assets, net
9,242.6 
9,028.8 
 
 
Other assets, net
550.8 
580.1 
 
 
Investments in consolidated subsidiaries
0 
0 
 
 
Intercompany notes receivable
   
3,851.8 
 
 
Total assets
21,278.4 
30,815.6 
 
 
Current liabilities:
 
 
 
 
Accounts payable and accruals
3,105.8 
2,662.3 
 
 
Short-term borrowings and current maturities of long-term debt
7.0 
10.4 
 
 
Intercompany accounts payable
1,533.4 
67.8 
 
 
Total current liabilities
4,646.2 
2,740.5 
 
 
Long-term debt
0.6 
0.6 
 
 
Other noncurrent liabilities
2,219.9 
2,735.8 
 
 
Intercompany notes payable
0 
6,183.9 
 
 
Total liabilities
6,866.7 
11,660.8 
 
 
Equity:
 
 
 
 
Total equity
14,411.7 
19,154.8 
 
 
Total liabilities and equity
21,278.4 
30,815.6 
 
 
Eliminations [Member]
 
 
 
 
Current assets:
 
 
 
 
Cash and cash equivalents
0 
0 
0 
0 
Accounts and notes receivable, net
0 
0 
 
 
Inventories
0 
0 
 
 
Other current assets
0 
(9.1)
 
 
Intercompany receivables
(20,632.8)
(12,367.9)
 
 
Total current assets
(20,632.8)
(12,377.0)
 
 
Property, plant and equipment, net
0 
0 
 
 
Intangible assets, net
0 
0 
 
 
Other assets, net
(383.0)
(655.4)
 
 
Investments in consolidated subsidiaries
(34,511.1)
(35,989.6)
 
 
Intercompany notes receivable
0 
(16,412.0)
 
 
Total assets
(55,526.9)
(65,434.0)
 
 
Current liabilities:
 
 
 
 
Accounts payable and accruals
0 
(9.1)
 
 
Short-term borrowings and current maturities of long-term debt
0 
0 
 
 
Intercompany accounts payable
(20,632.8)
(12,367.9)
 
 
Total current liabilities
(20,632.8)
(12,377.0)
 
 
Long-term debt
0 
0 
 
 
Other noncurrent liabilities
(383.0)
(655.4)
 
 
Intercompany notes payable
0 
(16,412.0)
 
 
Total liabilities
(21,015.8)
(29,444.4)
 
 
Equity:
 
 
 
 
Total equity
(34,511.1)
(35,989.6)
 
 
Total liabilities and equity
$ (55,526.9)
$ (65,434.0)
 
 
Guarantor Financial Information (Condensed Consolidating Statement of Cash Flows) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Net cash (used in) provided by continuing operating activities
$ 1,561.6 
$ 1,433.0 
$ 923.5 
Net cash (used in) provided by discontinued operating activities
(38.1)
88.9 
(35.1)
Net cash provided by (used in) operating activities
1,523.5 
1,521.9 
888.4 
Cash flows from investing activities:
 
 
 
Capital expenditures
(221.3)
(182.7)
(249.6)
Acquisition of businesses, net of cash acquired
(157.6)
(9.2)
(961.8)
Proceeds from sale of property, plant and equipment
1.5 
9.5 
18.5 
Proceeds from Divestiture of Businesses, Net of Cash Divested
0 
422.5 
0 
Proceeds from Divestiture of Interest in Joint Venture
2.7 
0 
0 
Dividends received from equity investments
 
 
   
Intercompany investing activities, net
0 
0 
0 
Net cash (used in) provided by continuing investing activities
(374.7)
240.1 
 
Net cash provided by (used in) investing activities
(374.7)
240.1 
(1,192.9)
Cash flows from financing activities:
 
 
 
Net proceeds (repayments) in debt
(11.7)
(150.7)
6.4 
Debt issuance costs
(0.2)
(2.1)
0 
Dividends paid to ordinary shareholders
(430.1)
(348.6)
(303.3)
Dividends paid to noncontrolling interests
(15.8)
(14.1)
(9.3)
Proceeds shares issued under incentive plans
76.7 
62.9 
61.3 
Repurchase of ordinary shares
(1,016.9)
(250.1)
(250.1)
Other, net
(27.7)
(24.2)
(32.6)
Net inter-company (payments) proceeds
0 
0 
0 
Net cash (used in) provided by continuing financing activities
(1,432.5)
(726.9)
(527.6)
Net Cash Provided by (Used in) Financing Activities
(1,432.5)
(726.9)
(527.6)
Effect of exchange rate changes on cash and cash equivalents
118.4 
(57.2)
(136.3)
Net (decrease) increase in cash and cash equivalents
(165.3)
977.9 
(968.4)
Cash and cash equivalents - beginning of period
1,714.7 
736.8 
1,705.2 
Cash and cash equivalents - end of period
1,549.4 
1,714.7 
736.8 
Plc [Member]
 
 
 
Net cash (used in) provided by continuing operating activities
83.8 
(80.4)
(22.9)
Net cash (used in) provided by discontinued operating activities
0 
0 
0 
Net cash provided by (used in) operating activities
83.8 
(80.4)
(22.9)
Cash flows from investing activities:
 
 
 
Capital expenditures
0 
0 
0 
Acquisition of businesses, net of cash acquired
0 
0 
0 
Proceeds from sale of property, plant and equipment
0 
0 
0 
Proceeds from Divestiture of Businesses, Net of Cash Divested
 
 
0 
Proceeds from Divestiture of Interest in Joint Venture
0 
 
 
Dividends received from equity investments
 
 
0 
Intercompany investing activities, net
285.1 
(90.1)
0 
Net cash (used in) provided by continuing investing activities
285.1 
(90.1)
 
Net cash provided by (used in) investing activities
 
 
0 
Cash flows from financing activities:
 
 
 
Net proceeds (repayments) in debt
0 
0 
0 
Debt issuance costs
0 
 
 
Dividends paid to ordinary shareholders
(430.1)
(348.6)
(303.3)
Dividends paid to noncontrolling interests
0 
0 
0 
Proceeds shares issued under incentive plans
76.7 
62.9 
61.3 
Repurchase of ordinary shares
(1,016.9)
(250.1)
(250.1)
Other, net
(25.4)
(24.2)
(32.6)
Net inter-company (payments) proceeds
1,026.8 
730.5 
547.6 
Net cash (used in) provided by continuing financing activities
(368.9)
170.5 
22.9 
Effect of exchange rate changes on cash and cash equivalents
0 
0 
0 
Net (decrease) increase in cash and cash equivalents
0 
0 
0 
Cash and cash equivalents - beginning of period
0 
0 
0 
Cash and cash equivalents - end of period
0 
0 
0 
Irish Holdings [Member]
 
 
 
Net cash (used in) provided by continuing operating activities
0 
0 
(1.2)
Net cash (used in) provided by discontinued operating activities
0 
0 
0 
Net cash provided by (used in) operating activities
0 
0 
(1.2)
Cash flows from investing activities:
 
 
 
Capital expenditures
0 
0 
0 
Acquisition of businesses, net of cash acquired
0 
0 
0 
Proceeds from sale of property, plant and equipment
0 
0 
0 
Proceeds from Divestiture of Businesses, Net of Cash Divested
 
 
0 
Proceeds from Divestiture of Interest in Joint Venture
0 
 
 
Dividends received from equity investments
 
 
   
Intercompany investing activities, net
285.2 
(19,465.7)
3.5 
Net cash (used in) provided by continuing investing activities
285.2 
(19,465.7)
 
Net cash provided by (used in) investing activities
 
 
3.5 
Cash flows from financing activities:
 
 
 
Net proceeds (repayments) in debt
0 
0 
0 
Debt issuance costs
0 
 
 
Dividends paid to ordinary shareholders
0 
0 
0 
Dividends paid to noncontrolling interests
0 
0 
0 
Proceeds shares issued under incentive plans
0 
0 
0 
Repurchase of ordinary shares
0 
0 
0 
Other, net
0 
0 
0 
Net inter-company (payments) proceeds
(285.2)
19,465.7 
(2.3)
Net cash (used in) provided by continuing financing activities
(285.2)
19,465.7 
(2.3)
Effect of exchange rate changes on cash and cash equivalents
0 
0 
0 
Net (decrease) increase in cash and cash equivalents
0 
0 
0 
Cash and cash equivalents - beginning of period
0 
0 
0 
Cash and cash equivalents - end of period
0 
0 
0 
Lux International [Member]
 
 
 
Net cash (used in) provided by continuing operating activities
(42.8)
(42.0)
(33.6)
Net cash (used in) provided by discontinued operating activities
0 
0 
0 
Net cash provided by (used in) operating activities
(42.8)
(42.0)
(33.6)
Cash flows from investing activities:
 
 
 
Capital expenditures
0 
0 
0 
Acquisition of businesses, net of cash acquired
0 
0 
0 
Proceeds from sale of property, plant and equipment
0 
0 
0 
Proceeds from Divestiture of Businesses, Net of Cash Divested
 
 
0 
Proceeds from Divestiture of Interest in Joint Venture
0 
 
 
Dividends received from equity investments
 
 
   
Intercompany investing activities, net
2,050.2 
6,181.4 
1,963.3 
Net cash (used in) provided by continuing investing activities
2,050.2 
6,181.4 
 
Net cash provided by (used in) investing activities
 
 
1,963.3 
Cash flows from financing activities:
 
 
 
Net proceeds (repayments) in debt
0 
0 
0 
Debt issuance costs
0 
 
 
Dividends paid to ordinary shareholders
0 
0 
0 
Dividends paid to noncontrolling interests
0 
0 
0 
Proceeds shares issued under incentive plans
0 
0 
0 
Repurchase of ordinary shares
0 
0 
0 
Other, net
0 
0 
0 
Net inter-company (payments) proceeds
(2,006.8)
(6,139.4)
(1,930.8)
Net cash (used in) provided by continuing financing activities
(2,006.8)
(6,139.4)
(1,930.8)
Effect of exchange rate changes on cash and cash equivalents
0 
0 
0 
Net (decrease) increase in cash and cash equivalents
0.6 
0 
(1.1)
Cash and cash equivalents - beginning of period
0 
0 
1.1 
Cash and cash equivalents - end of period
0.6 
0 
0 
Global Holding [Member]
 
 
 
Net cash (used in) provided by continuing operating activities
(284.9)
(276.6)
(122.9)
Net cash (used in) provided by discontinued operating activities
0 
0 
0 
Net cash provided by (used in) operating activities
(284.9)
(276.6)
(122.9)
Cash flows from investing activities:
 
 
 
Capital expenditures
0 
0 
0 
Acquisition of businesses, net of cash acquired
0 
0 
0 
Proceeds from sale of property, plant and equipment
0 
0 
0 
Proceeds from Divestiture of Businesses, Net of Cash Divested
 
 
0 
Proceeds from Divestiture of Interest in Joint Venture
0 
 
 
Dividends received from equity investments
 
 
   
Intercompany investing activities, net
270.1 
(172.9)
339.0 
Net cash (used in) provided by continuing investing activities
270.1 
(172.9)
 
Net cash provided by (used in) investing activities
 
 
339.0 
Cash flows from financing activities:
 
 
 
Net proceeds (repayments) in debt
0 
0 
(0.1)
Debt issuance costs
(0.2)
 
 
Dividends paid to ordinary shareholders
0 
0 
0 
Dividends paid to noncontrolling interests
0 
0 
0 
Proceeds shares issued under incentive plans
0 
0 
0 
Repurchase of ordinary shares
0 
0 
0 
Other, net
0 
0 
0 
Net inter-company (payments) proceeds
15.0 
440.2 
(204.6)
Net cash (used in) provided by continuing financing activities
14.8 
438.1 
(204.7)
Effect of exchange rate changes on cash and cash equivalents
0 
0 
0 
Net (decrease) increase in cash and cash equivalents
0 
(11.4)
11.4 
Cash and cash equivalents - beginning of period
0 
11.4 
0 
Cash and cash equivalents - end of period
0 
0 
11.4 
New Jersey [Member]
 
 
 
Net cash (used in) provided by continuing operating activities
438.4 
823.4 
(294.3)
Net cash (used in) provided by discontinued operating activities
(36.9)
86.4 
(30.6)
Net cash provided by (used in) operating activities
401.5 
909.8 
(324.9)
Cash flows from investing activities:
 
 
 
Capital expenditures
(74.2)
(73.7)
(122.9)
Acquisition of businesses, net of cash acquired
(2.7)
(9.2)
(443.5)
Proceeds from sale of property, plant and equipment
0 
0 
3.0 
Proceeds from Divestiture of Businesses, Net of Cash Divested
 
 
0 
Proceeds from Divestiture of Interest in Joint Venture
0 
 
 
Dividends received from equity investments
 
 
   
Intercompany investing activities, net
4,899.4 
65.8 
125.4 
Net cash (used in) provided by continuing investing activities
4,822.5 
(17.1)
 
Net cash provided by (used in) investing activities
 
 
(438.0)
Cash flows from financing activities:
 
 
 
Net proceeds (repayments) in debt
(7.5)
(7.7)
(7.6)
Debt issuance costs
0 
 
 
Dividends paid to ordinary shareholders
0 
0 
0 
Dividends paid to noncontrolling interests
0 
0 
0 
Proceeds shares issued under incentive plans
0 
0 
0 
Repurchase of ordinary shares
0 
0 
0 
Other, net
(1.7)
0 
0 
Net inter-company (payments) proceeds
(5,490.1)
(250.4)
345.1 
Net cash (used in) provided by continuing financing activities
(5,499.3)
(258.1)
337.5 
Effect of exchange rate changes on cash and cash equivalents
0 
0 
0 
Net (decrease) increase in cash and cash equivalents
(275.3)
634.6 
(425.4)
Cash and cash equivalents - beginning of period
634.6 
0 
425.4 
Cash and cash equivalents - end of period
359.3 
634.6 
0 
Lux Finance [Member]
 
 
 
Net cash (used in) provided by continuing operating activities
(48.0)
(47.3)
(45.8)
Net cash (used in) provided by discontinued operating activities
0 
0 
0 
Net cash provided by (used in) operating activities
(48.0)
(47.3)
(45.8)
Cash flows from investing activities:
 
 
 
Capital expenditures
0 
0 
0 
Acquisition of businesses, net of cash acquired
0 
0 
0 
Proceeds from sale of property, plant and equipment
0 
0 
0 
Proceeds from Divestiture of Businesses, Net of Cash Divested
 
 
0 
Proceeds from Divestiture of Interest in Joint Venture
0 
 
 
Dividends received from equity investments
 
 
   
Intercompany investing activities, net
11.7 
336.1 
(228.0)
Net cash (used in) provided by continuing investing activities
11.7 
336.1 
 
Net cash provided by (used in) investing activities
 
 
(228.0)
Cash flows from financing activities:
 
 
 
Net proceeds (repayments) in debt
0 
(143.0)
43.0 
Debt issuance costs
0 
 
 
Dividends paid to ordinary shareholders
0 
0 
0 
Dividends paid to noncontrolling interests
0 
0 
0 
Proceeds shares issued under incentive plans
0 
0 
0 
Repurchase of ordinary shares
0 
0 
0 
Other, net
0 
0 
0 
Net inter-company (payments) proceeds
36.3 
(145.9)
230.9 
Net cash (used in) provided by continuing financing activities
36.3 
(288.9)
273.9 
Effect of exchange rate changes on cash and cash equivalents
0 
0 
0 
Net (decrease) increase in cash and cash equivalents
0 
(0.1)
0.1 
Cash and cash equivalents - beginning of period
0 
0.1 
0 
Cash and cash equivalents - end of period
0 
0 
0.1 
Other [Member]
 
 
 
Net cash (used in) provided by continuing operating activities
1,415.1 
1,055.9 
1,444.2 
Net cash (used in) provided by discontinued operating activities
(1.2)
2.5 
(4.5)
Net cash provided by (used in) operating activities
1,413.9 
1,058.4 
1,439.7 
Cash flows from investing activities:
 
 
 
Capital expenditures
(147.1)
(109.0)
(126.7)
Acquisition of businesses, net of cash acquired
(154.9)
0 
(518.3)
Proceeds from sale of property, plant and equipment
1.5 
9.5 
15.5 
Proceeds from Divestiture of Businesses, Net of Cash Divested
 
 
0 
Proceeds from Divestiture of Interest in Joint Venture
2.7 
 
 
Dividends received from equity investments
 
 
   
Intercompany investing activities, net
6,788.3 
(2,226.8)
(1,012.6)
Net cash (used in) provided by continuing investing activities
6,490.5 
(1,903.8)
 
Net cash provided by (used in) investing activities
 
 
(1,642.1)
Cash flows from financing activities:
 
 
 
Net proceeds (repayments) in debt
(4.2)
0 
(28.9)
Debt issuance costs
0 
 
 
Dividends paid to ordinary shareholders
0 
0 
0 
Dividends paid to noncontrolling interests
(15.8)
(14.1)
(9.3)
Proceeds shares issued under incentive plans
0 
0 
0 
Repurchase of ordinary shares
0 
0 
0 
Other, net
(0.6)
0 
0 
Net inter-company (payments) proceeds
(7,886.0)
1,271.5 
(176.5)
Net cash (used in) provided by continuing financing activities
(7,913.4)
1,257.4 
(214.7)
Effect of exchange rate changes on cash and cash equivalents
118.4 
(57.2)
(136.3)
Net (decrease) increase in cash and cash equivalents
109.4 
354.8 
(553.4)
Cash and cash equivalents - beginning of period
1,080.1 
725.3 
1,278.7 
Cash and cash equivalents - end of period
1,189.5 
1,080.1 
725.3 
Eliminations [Member]
 
 
 
Net cash (used in) provided by continuing operating activities
0 
0 
0 
Net cash (used in) provided by discontinued operating activities
0 
0 
0 
Net cash provided by (used in) operating activities
0 
0 
0 
Cash flows from investing activities:
 
 
 
Capital expenditures
0 
0 
0 
Acquisition of businesses, net of cash acquired
0 
0 
0 
Proceeds from sale of property, plant and equipment
0 
0 
0 
Proceeds from Divestiture of Businesses, Net of Cash Divested
 
 
0 
Proceeds from Divestiture of Interest in Joint Venture
0 
 
 
Dividends received from equity investments
 
 
   
Intercompany investing activities, net
(14,590.0)
15,372.2 
(1,190.6)
Net cash (used in) provided by continuing investing activities
(14,590.0)
15,372.2 
 
Net cash provided by (used in) investing activities
 
 
(1,190.6)
Cash flows from financing activities:
 
 
 
Net proceeds (repayments) in debt
0 
0 
0 
Debt issuance costs
0 
 
 
Dividends paid to ordinary shareholders
0 
0 
0 
Dividends paid to noncontrolling interests
0 
0 
0 
Proceeds shares issued under incentive plans
0 
0 
0 
Repurchase of ordinary shares
0 
0 
0 
Other, net
0 
0 
0 
Net inter-company (payments) proceeds
14,590.0 
(15,372.2)
1,190.6 
Net cash (used in) provided by continuing financing activities
14,590.0 
(15,372.2)
1,190.6 
Effect of exchange rate changes on cash and cash equivalents
0 
0 
0 
Net (decrease) increase in cash and cash equivalents
0 
0 
0 
Cash and cash equivalents - beginning of period
0 
0 
0 
Cash and cash equivalents - end of period
$ 0 
$ 0 
$ 0 
Valuation and Qualifying Accounts (Valuation and Qualifying Accounts Allowance For Doubtful Accounts) (Details) (Allowances for Doubtful Accounts [Member], USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2013
Allowances for Doubtful Accounts [Member]
 
 
 
 
Balance at the beginning of period
$ 26.0 
$ 28.3 
$ 34.1 
 
Additions charged to costs and expenses
9.7 
7.9 
1.4 
 
Deductions
(9.7)1
(9.5)1
(5.3)1
 
Business acquisitions and divestitures, net
0 
0 
 
0.3 
Currency translation
1.3 
(0.7)
(2.2)
 
Balance at the end of period
$ 26.9 
$ 26.0 
$ 28.3