|
|
|
|
|
|
|
In millions | June 30, 2016 | December 31, 2015 | |||||
Raw materials | $ | 519.8 | $ | 514.9 | |||
Work-in-process | 187.2 | 131.0 | |||||
Finished goods | 956.5 | 825.7 | |||||
1,663.5 | 1,471.6 | ||||||
LIFO reserve | (62.2 | ) | (60.9 | ) | |||
Total | $ | 1,601.3 | $ | 1,410.7 |
|
In millions | Climate | Industrial | Total | ||||||||
Net balance as of December 31, 2015 | $ | 4,952.6 | $ | 777.6 | $ | 5,730.2 | |||||
Acquisitions | — | 12.8 | 12.8 | ||||||||
Currency translation | 18.8 | 1.9 | 20.7 | ||||||||
Net balance as of June 30, 2016 | $ | 4,971.4 | $ | 792.3 | $ | 5,763.7 |
|
June 30, 2016 | December 31, 2015 | |||||||||||||||||||||||
In millions | Gross carrying amount | Accumulated amortization | Net carrying amount | Gross carrying amount | Accumulated amortization | Net carrying amount | ||||||||||||||||||
Completed technologies/patents | $ | 215.4 | $ | (173.0 | ) | $ | 42.4 | $ | 214.9 | $ | (168.7 | ) | $ | 46.2 | ||||||||||
Customer relationships | 2,023.1 | (871.7 | ) | 1,151.4 | 2,019.8 | (811.5 | ) | 1,208.3 | ||||||||||||||||
Other | 66.2 | (48.3 | ) | 17.9 | 63.5 | (45.7 | ) | 17.8 | ||||||||||||||||
Total finite-lived intangible assets | 2,304.7 | (1,093.0 | ) | 1,211.7 | 2,298.2 | (1,025.9 | ) | 1,272.3 | ||||||||||||||||
Trademarks (indefinite-lived) | 2,654.5 | — | 2,654.5 | 2,653.8 | — | 2,653.8 | ||||||||||||||||||
Total | $ | 4,959.2 | $ | (1,093.0 | ) | $ | 3,866.2 | $ | 4,952.0 | $ | (1,025.9 | ) | $ | 3,926.1 |
|
In millions | June 30, 2016 | December 31, 2015 | |||||
Debentures with put feature | $ | 343.0 | $ | 343.0 | |||
Commercial Paper | — | 143.0 | |||||
Other current maturities of long-term debt | 7.8 | 7.8 | |||||
Short-term borrowings | 10.4 | 10.4 | |||||
Total | $ | 361.2 | $ | 504.2 |
In millions | June 30, 2016 | December 31, 2015 | |||||
6.875% Senior notes due 2018 | $ | 748.3 | $ | 748.0 | |||
2.875% Senior notes due 2019 | 348.4 | 348.1 | |||||
2.625% Senior notes due 2020 | 298.2 | 298.0 | |||||
9.000% Debentures due 2021 | 124.8 | 124.8 | |||||
4.250% Senior notes due 2023 | 695.3 | 695.0 | |||||
7.200% Debentures due 2016-2025 | 59.7 | 67.1 | |||||
3.550% Senior notes due 2024 | 494.1 | 493.7 | |||||
6.480% Debentures due 2025 | 149.7 | 149.7 | |||||
5.750% Senior notes due 2043 | 493.4 | 493.4 | |||||
4.650% Senior notes due 2044 | 295.3 | 295.2 | |||||
Other loans and notes | 17.6 | 0.6 | |||||
Total | 3,724.8 | 3,713.6 |
|
Derivative assets | Derivative liabilities | ||||||||||||||
In millions | June 30, 2016 | December 31, 2015 | June 30, 2016 | December 31, 2015 | |||||||||||
Derivatives designated as hedges: | |||||||||||||||
Currency derivatives designated as hedges | $ | 5.1 | $ | 0.6 | $ | 0.1 | $ | 0.2 | |||||||
Derivatives not designated as hedges: | |||||||||||||||
Currency derivatives not designated as hedges | 5.0 | 4.4 | 8.1 | 12.4 | |||||||||||
Total derivatives | $ | 10.1 | $ | 5.0 | $ | 8.2 | $ | 12.6 |
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 | 2016 | 2015 | 2016 | 2015 | |||||||||||||
Currency derivatives designated as hedges | $ | 4.6 | $ | (1.5 | ) | Cost of goods sold | $ | 1.3 | $ | (0.6 | ) | ||||||
Interest rate swaps & locks | — | — | Interest expense | (0.2 | ) | (0.1 | ) | ||||||||||
Total | $ | 4.6 | $ | (1.5 | ) | $ | 1.1 | $ | (0.7 | ) |
Amount of gain (loss) recognized in Net earnings | ||||||||
In millions | 2016 | 2015 | ||||||
Currency derivatives not designated as hedges | $ | (14.8 | ) | $ | (15.0 | ) | ||
Total | $ | (14.8 | ) | $ | (15.0 | ) |
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 | 2016 | 2015 | 2016 | 2015 | |||||||||||||
Currency derivatives designated as hedges | $ | 6.6 | $ | 0.1 | Cost of goods sold | $ | 2.0 | $ | (1.3 | ) | |||||||
Interest rate swaps & locks | — | — | Interest expense | (0.3 | ) | (0.3 | ) | ||||||||||
Total | $ | 6.6 | $ | 0.1 | $ | 1.7 | $ | (1.6 | ) |
Amount of gain (loss) recognized in Net earnings | ||||||||
In millions | 2016 | 2015 | ||||||
Currency derivatives not designated as hedges | $ | 11.4 | $ | 17.3 | ||||
Total | $ | 11.4 | $ | 17.3 |
|
• | 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. |
In Millions | Fair Value | Fair value measurements | |||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||
Assets: | |||||||||||||||
Derivative instruments | $ | 10.1 | $ | — | $ | 10.1 | $ | — | |||||||
Liabilities: | |||||||||||||||
Derivative instruments | $ | 8.2 | $ | — | $ | 8.2 | $ | — |
In Millions | Fair Value | Fair value measurements | |||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||
Assets: | |||||||||||||||
Derivative instruments | $ | 5.0 | $ | — | $ | 5.0 | $ | — | |||||||
Liabilities: | |||||||||||||||
Derivative instruments | $ | 12.6 | $ | — | $ | 12.6 | $ | — |
|
Three months ended | Six months ended | ||||||||||||||
In millions | 2016 | 2015 | 2016 | 2015 | |||||||||||
Service cost | $ | 18.3 | $ | 18.8 | $ | 36.5 | $ | 37.7 | |||||||
Interest cost | 28.5 | 32.6 | 56.9 | 65.2 | |||||||||||
Expected return on plan assets | (36.1 | ) | (39.6 | ) | (72.2 | ) | (79.2 | ) | |||||||
Net amortization of: | |||||||||||||||
Prior service costs | 1.2 | 0.8 | 2.4 | 1.6 | |||||||||||
Net actuarial losses | 15.1 | 15.5 | 30.3 | 30.9 | |||||||||||
Net periodic pension benefit cost | $ | 27.0 | $ | 28.1 | $ | 53.9 | $ | 56.2 | |||||||
Amounts recorded in continuing operations | $ | 24.5 | $ | 25.4 | $ | 48.9 | $ | 50.9 | |||||||
Amounts recorded in discontinued operations | 2.5 | 2.7 | 5.0 | 5.3 | |||||||||||
Total | $ | 27.0 | $ | 28.1 | $ | 53.9 | $ | 56.2 |
Three months ended | Six months ended | ||||||||||||||
In millions | 2016 | 2015 | 2016 | 2015 | |||||||||||
Service cost | $ | 1.0 | $ | 1.1 | $ | 1.9 | $ | 2.1 | |||||||
Interest cost | 4.5 | 5.9 | 9.0 | 11.9 | |||||||||||
Net amortization of: | |||||||||||||||
Prior service gains | (2.2 | ) | (2.2 | ) | (4.4 | ) | (4.4 | ) | |||||||
Net actuarial losses | — | 0.1 | — | 0.2 | |||||||||||
Net periodic postretirement benefit cost | $ | 3.3 | $ | 4.9 | $ | 6.5 | $ | 9.8 | |||||||
Amounts recorded in continuing operations | $ | 2.2 | $ | 3.0 | $ | 4.3 | $ | 6.0 | |||||||
Amounts recorded in discontinued operations | 1.1 | 1.9 | 2.2 | 3.8 | |||||||||||
Total | $ | 3.3 | $ | 4.9 | $ | 6.5 | $ | 9.8 |
|
In millions | Ordinary shares issued | Ordinary shares held in treasury | |||
December 31, 2015 | 269.0 | 7.8 | |||
Shares issued under incentive plans, net | 1.4 | — | |||
Repurchase of ordinary shares | — | 4.9 | |||
June 30, 2016 | 270.4 | 12.7 |
In millions | Shareholders’ equity | Noncontrolling interests | Total equity | ||||||||
Balance at December 31, 2015 | $ | 5,816.7 | $ | 62.5 | $ | 5,879.2 | |||||
Net earnings | 900.0 | 8.0 | 908.0 | ||||||||
Currency translation | 34.1 | (0.2 | ) | 33.9 | |||||||
Derivatives qualifying as cash flow hedges, net of tax | 4.4 | — | 4.4 | ||||||||
Pension and OPEB adjustments, net of tax | 28.5 | — | 28.5 | ||||||||
Total comprehensive income (loss) | 967.0 | 7.8 | 974.8 | ||||||||
Share-based compensation | 36.8 | — | 36.8 | ||||||||
Dividends declared to noncontrolling interests | — | (6.7 | ) | (6.7 | ) | ||||||
Dividends declared to ordinary shareholders | (164.8 | ) | — | (164.8 | ) | ||||||
Shares issued under incentive plans, net of tax benefit | 9.2 | — | 9.2 | ||||||||
Repurchase of ordinary shares | (250.1 | ) | — | (250.1 | ) | ||||||
Other items, net | (0.4 | ) | — | (0.4 | ) | ||||||
Balance at June 30, 2016 | $ | 6,414.4 | $ | 63.6 | $ | 6,478.0 |
In millions | Shareholders’ equity | Noncontrolling interests | Total equity | ||||||||
Balance at December 31, 2014 | $ | 5,987.4 | $ | 58.0 | $ | 6,045.4 | |||||
Net earnings | 130.2 | 8.1 | 138.3 | ||||||||
Currency translation | (243.8 | ) | (1.0 | ) | (244.8 | ) | |||||
Derivatives qualifying as cash flow hedges, net of tax | 1.4 | — | 1.4 | ||||||||
Pension and OPEB adjustments, net of tax | 23.6 | — | 23.6 | ||||||||
Total comprehensive income (loss) | (88.6 | ) | 7.1 | (81.5 | ) | ||||||
Share-based compensation | 36.9 | — | 36.9 | ||||||||
Dividends declared to noncontrolling interests | — | (5.2 | ) | (5.2 | ) | ||||||
Dividends declared to ordinary shareholders | (153.4 | ) | — | (153.4 | ) | ||||||
Shares issued under incentive plans, net of tax benefit | 45.3 | — | 45.3 | ||||||||
Balance at June 30, 2015 | $ | 5,827.6 | $ | 59.9 | $ | 5,887.5 |
In millions | Derivative Instruments | Pension and OPEB | Foreign Currency Translation | Total | ||||||||||||
Balance at December 31, 2015 | $ | 5.1 | $ | (630.4 | ) | $ | (495.6 | ) | $ | (1,120.9 | ) | |||||
Other comprehensive income (loss) before reclassifications | 6.6 | 9.8 | 34.1 | 50.5 | ||||||||||||
Amounts reclassified from AOCI | (1.7 | ) | 28.3 | — | 26.6 | |||||||||||
Provision for income taxes | (0.5 | ) | (9.6 | ) | — | (10.1 | ) | |||||||||
Net current period other comprehensive income (loss) | $ | 4.4 | $ | 28.5 | $ | 34.1 | $ | 67.0 | ||||||||
Balance at June 30, 2016 | $ | 9.5 | $ | (601.9 | ) | $ | (461.5 | ) | $ | (1,053.9 | ) |
In millions | Derivative Instruments | Pension and OPEB | Foreign Currency Translation | Total | ||||||||||||
Balance at December 31, 2014 | $ | 3.1 | $ | (665.1 | ) | $ | (52.3 | ) | $ | (714.3 | ) | |||||
Other comprehensive income (loss) before reclassifications | 0.3 | 6.5 | (243.8 | ) | (237.0 | ) | ||||||||||
Amounts reclassified from AOCI | 1.6 | 28.3 | — | 29.9 | ||||||||||||
Provision for income taxes | (0.5 | ) | (11.2 | ) | — | (11.7 | ) | |||||||||
Net current period other comprehensive income (loss) | $ | 1.4 | $ | 23.6 | $ | (243.8 | ) | $ | (218.8 | ) | ||||||
Balance at June 30, 2015 | $ | 4.5 | $ | (641.5 | ) | $ | (296.1 | ) | $ | (933.1 | ) |
Three months ended | Six months ended | |||||||||||||||
In millions | 2016 | 2015 | 2016 | 2015 | ||||||||||||
Derivative Instruments | ||||||||||||||||
Reclassifications of deferred (gains) losses (1) | $ | (1.1 | ) | $ | 0.7 | $ | (1.7 | ) | $ | 1.6 | ||||||
Provision (benefit) for income taxes | 0.2 | — | 0.2 | — | ||||||||||||
Reclassifications, net of taxes | $ | (0.9 | ) | $ | 0.7 | $ | (1.5 | ) | $ | 1.6 | ||||||
Pension and Postretirement benefits | ||||||||||||||||
Amortization of service costs (2) | $ | (1.0 | ) | $ | (1.4 | ) | $ | (2.0 | ) | $ | (2.8 | ) | ||||
Amortization of actuarial losses (2) | 15.1 | 15.6 | 30.3 | 31.1 | ||||||||||||
Provision for (benefit from) for income taxes | (5.1 | ) | (4.7 | ) | (9.6 | ) | (11.2 | ) | ||||||||
Reclassifications, net of taxes | $ | 9.0 | $ | 9.5 | $ | 18.7 | $ | 17.1 | ||||||||
Total reclassifications, net of taxes | $ | 8.1 | $ | 10.2 | $ | 17.2 | $ | 18.7 |
|
Three months ended | Six months ended | ||||||||||||||
In millions | 2016 | 2015 | 2016 | 2015 | |||||||||||
Interest income | $ | 2.6 | $ | 2.4 | $ | 4.6 | $ | 5.3 | |||||||
Exchange gain (loss) | 3.8 | (0.1 | ) | 9.3 | (32.4 | ) | |||||||||
Income (loss) from equity investment | — | 3.6 | (0.8 | ) | 4.2 | ||||||||||
Gain on sale of Hussmann equity investment | 397.8 | — | 397.8 | — | |||||||||||
Other activity, net | (1.2 | ) | 16.1 | 2.1 | 18.5 | ||||||||||
Other income/(expense), net | $ | 403.0 | $ | 22.0 | $ | 413.0 | $ | (4.4 | ) |
|
|
Three months ended | Six months ended | ||||||||||||||
In millions | 2016 | 2015 | 2016 | 2015 | |||||||||||
Pre-tax earnings (loss) from discontinued operations | $ | (8.4 | ) | $ | (9.7 | ) | $ | 12.6 | $ | (18.8 | ) | ||||
Tax benefit (expense) | 1.6 | 5.6 | 7.5 | 7.4 | |||||||||||
Discontinued operations, net of tax | $ | (6.8 | ) | $ | (4.1 | ) | $ | 20.1 | $ | (11.4 | ) |
|
Three months ended | Six months ended | ||||||||||||||
In millions | 2016 | 2015 | 2016 | 2015 | |||||||||||
Net revenues | |||||||||||||||
Climate | $ | 2,934.8 | $ | 2,815.5 | $ | 5,148.3 | $ | 4,974.0 | |||||||
Industrial | 753.4 | 784.7 | 1,434.0 | 1,514.0 | |||||||||||
Total | $ | 3,688.2 | $ | 3,600.2 | $ | 6,582.3 | $ | 6,488.0 | |||||||
Segment operating income | |||||||||||||||
Climate | $ | 493.9 | $ | 402.4 | $ | 708.3 | $ | 553.3 | |||||||
Industrial | 68.8 | 90.7 | 131.3 | 165.5 | |||||||||||
Unallocated corporate expense | (57.5 | ) | (40.9 | ) | (117.1 | ) | (95.5 | ) | |||||||
Operating income | $ | 505.2 | $ | 452.2 | $ | 722.5 | $ | 623.3 |
|
• | 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. |
In millions | June 30, 2016 | December 31, 2015 | |||||
Accrued expenses and other current liabilities | $ | 67.0 | $ | 65.7 | |||
Other noncurrent liabilities | 608.3 | 648.0 | |||||
Total asbestos-related liabilities | $ | 675.3 | $ | 713.7 | |||
Other current assets | $ | 54.0 | $ | 51.3 | |||
Other noncurrent assets | 240.0 | 264.3 | |||||
Total asset for probable asbestos-related insurance recoveries | $ | 294.0 | $ | 315.6 |
Three months ended | Six months ended | ||||||||||||||
In millions | 2016 | 2015 | 2016 | 2015 | |||||||||||
Continuing operations | $ | 0.2 | $ | 16.4 | $ | 2.1 | $ | 17.7 | |||||||
Discontinued operations | (4.2 | ) | (4.4 | ) | 19.8 | (5.7 | ) | ||||||||
Total | $ | (4.0 | ) | $ | 12.0 | $ | 21.9 | $ | 12.0 |
• | 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 settlements referenced 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. |
In millions | 2016 | 2015 | |||||
Balance at beginning of period | $ | 262.0 | $ | 253.6 | |||
Reductions for payments | (68.7 | ) | (68.1 | ) | |||
Accruals for warranties issued during the current period | 63.0 | 65.9 | |||||
Accruals for warranties assumed from acquisitions during the current period | — | 9.7 | |||||
Changes to accruals related to preexisting warranties | 5.9 | 5.6 | |||||
Translation | 0.7 | (3.1 | ) | ||||
Balance at end of period | $ | 262.9 | $ | 263.6 |
In millions | 2016 | 2015 | |||||
Balance at beginning of period | $ | 311.6 | $ | 330.1 | |||
Amortization of deferred revenue for the period | (53.8 | ) | (51.1 | ) | |||
Additions for extended warranties issued during the period | 38.4 | 42.6 | |||||
Changes to accruals related to preexisting warranties | 7.1 | 1.6 | |||||
Translation | 0.7 | (1.3 | ) | ||||
Balance at end of period | $ | 304.0 | $ | 321.9 |
|
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.à.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 2016-2025 6.48% Debentures due 2025 Puttable debentures due 2027-2028 | All notes issued by Global 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 and New Jersey |
• | Irish Holdings was added as a guarantor of all notes and debentures issued by Global Holding and Lux Finance; |
• | International Holding transferred all of its remaining assets, including ownership of Lux International, to Irish Holdings and was dissolved; and, |
• | An intercompany loan of $19.5 billion was made from Irish Holdings to Lux International and was subsequently reduced to $18.0 billion. |
In millions | Plc | Irish Holdings | Lux International | Global Holding | New Jersey | Lux Finance | Other Subsidiaries | Consolidating Adjustments | Consolidated | ||||||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 321.8 | $ | — | $ | 3,455.2 | $ | (88.8 | ) | $ | 3,688.2 | ||||||||||||||||
Cost of goods sold | — | — | — | — | (244.8 | ) | — | (2,356.3 | ) | 88.8 | (2,512.3 | ) | |||||||||||||||||||||||
Selling and administrative expenses | (5.3 | ) | — | — | — | (115.9 | ) | (0.1 | ) | (549.4 | ) | — | (670.7 | ) | |||||||||||||||||||||
Operating income (loss) | (5.3 | ) | — | — | — | (38.9 | ) | (0.1 | ) | 549.5 | — | 505.2 | |||||||||||||||||||||||
Equity earnings (loss) in subsidiaries, net of tax | 770.0 | 768.0 | 736.7 | 249.8 | 349.2 | 74.7 | — | (2,948.4 | ) | — | |||||||||||||||||||||||||
Interest expense | — | — | — | (31.8 | ) | (12.0 | ) | (11.0 | ) | (1.7 | ) | — | (56.5 | ) | |||||||||||||||||||||
Intercompany interest and fees | (17.6 | ) | — | (9.5 | ) | (41.9 | ) | (69.4 | ) | (1.7 | ) | 140.1 | — | — | |||||||||||||||||||||
Other income/(expense), net | — | — | — | — | (1.1 | ) | — | 404.1 | — | 403.0 | |||||||||||||||||||||||||
Earnings (loss) before income taxes | 747.1 | 768.0 | 727.2 | 176.1 | 227.8 | 61.9 | 1,092.0 | (2,948.4 | ) | 851.7 | |||||||||||||||||||||||||
Benefit (provision) for income taxes | 0.5 | — | — | 26.9 | 29.8 | — | (149.7 | ) | — | (92.5 | ) | ||||||||||||||||||||||||
Earnings (loss) from continuing operations | 747.6 | 768.0 | 727.2 | 203.0 | 257.6 | 61.9 | 942.3 | (2,948.4 | ) | 759.2 | |||||||||||||||||||||||||
Discontinued operations, net of tax | — | — | — | — | (7.2 | ) | — | 0.4 | — | (6.8 | ) | ||||||||||||||||||||||||
Net earnings (loss) | 747.6 | 768.0 | 727.2 | 203.0 | 250.4 | 61.9 | 942.7 | (2,948.4 | ) | 752.4 | |||||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | — | (4.8 | ) | — | (4.8 | ) | ||||||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 747.6 | $ | 768.0 | $ | 727.2 | $ | 203.0 | $ | 250.4 | $ | 61.9 | $ | 937.9 | $ | (2,948.4 | ) | $ | 747.6 | ||||||||||||||||
Other comprehensive income (loss), net of tax | (75.0 | ) | (75.0 | ) | (72.0 | ) | (27.9 | ) | (28.0 | ) | (3.3 | ) | (67.6 | ) | 273.8 | (75.0 | ) | ||||||||||||||||||
Comprehensive income (loss) attributable to Ingersoll-Rand plc | $ | 672.6 | $ | 693.0 | $ | 655.2 | $ | 175.1 | $ | 222.4 | $ | 58.6 | $ | 870.3 | $ | (2,674.6 | ) | $ | 672.6 |
In millions | Plc | Irish Holdings | Lux International | Global Holding | New Jersey | Lux Finance | Other Subsidiaries | Consolidating Adjustments | Consolidated | ||||||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 638.3 | $ | — | $ | 6,122.0 | $ | (178.0 | ) | $ | 6,582.3 | ||||||||||||||||
Cost of goods sold | — | — | — | — | (486.9 | ) | — | (4,250.4 | ) | 178.0 | (4,559.3 | ) | |||||||||||||||||||||||
Selling and administrative expenses | (6.8 | ) | — | (0.1 | ) | — | (248.6 | ) | (0.3 | ) | (1,044.7 | ) | — | (1,300.5 | ) | ||||||||||||||||||||
Operating income (loss) | (6.8 | ) | — | (0.1 | ) | — | (97.2 | ) | (0.3 | ) | 826.9 | — | 722.5 | ||||||||||||||||||||||
Equity earnings (loss) in subsidiaries, net of tax | 937.5 | 925.8 | 871.7 | 288.2 | 453.0 | 92.4 | — | (3,568.6 | ) | — | |||||||||||||||||||||||||
Interest expense | — | — | — | (63.7 | ) | (24.1 | ) | (22.2 | ) | (3.2 | ) | — | (113.2 | ) | |||||||||||||||||||||
Intercompany interest and fees | (31.5 | ) | — | (19.6 | ) | (78.8 | ) | (141.0 | ) | (3.0 | ) | 273.9 | — | — | |||||||||||||||||||||
Other income/(expense), net | 0.1 | — | — | — | (2.6 | ) | — | 415.5 | — | 413.0 | |||||||||||||||||||||||||
Earnings (loss) before income taxes | 899.3 | 925.8 | 852.0 | 145.7 | 188.1 | 66.9 | 1,513.1 | (3,568.6 | ) | 1,022.3 | |||||||||||||||||||||||||
Benefit (provision) for income taxes | 0.7 | — | — | 51.9 | 82.8 | — | (269.8 | ) | — | (134.4 | ) | ||||||||||||||||||||||||
Earnings (loss) from continuing operations | 900.0 | 925.8 | 852.0 | 197.6 | 270.9 | 66.9 | 1,243.3 | (3,568.6 | ) | 887.9 | |||||||||||||||||||||||||
Discontinued operations, net of tax | — | — | — | — | 17.9 | — | 2.2 | — | 20.1 | ||||||||||||||||||||||||||
Net earnings (loss) | 900.0 | 925.8 | 852.0 | 197.6 | 288.8 | 66.9 | 1,245.5 | (3,568.6 | ) | 908.0 | |||||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | — | (8.0 | ) | — | (8.0 | ) | ||||||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 900.0 | $ | 925.8 | $ | 852.0 | $ | 197.6 | $ | 288.8 | $ | 66.9 | $ | 1,237.5 | $ | (3,568.6 | ) | $ | 900.0 | ||||||||||||||||
Other comprehensive income (loss), net of tax | 67.0 | 66.9 | 53.2 | 26.7 | 26.4 | 0.6 | 121.2 | (295.0 | ) | 67.0 | |||||||||||||||||||||||||
Comprehensive income (loss) attributable to Ingersoll-Rand plc | $ | 967.0 | $ | 992.7 | $ | 905.2 | $ | 224.3 | $ | 315.2 | $ | 67.5 | $ | 1,358.7 | $ | (3,863.6 | ) | $ | 967.0 |
In millions | Plc | Irish Holdings | Lux International | Global Holding | New Jersey | Lux Finance | Other Subsidiaries | Consolidating Adjustments | Consolidated | ||||||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 362.8 | $ | — | $ | 3,336.9 | $ | (99.5 | ) | $ | 3,600.2 | ||||||||||||||||
Cost of goods sold | — | — | — | — | (253.8 | ) | — | (2,340.2 | ) | 99.5 | (2,494.5 | ) | |||||||||||||||||||||||
Selling and administrative expenses | (7.1 | ) | — | — | 0.1 | (92.3 | ) | (0.1 | ) | (554.1 | ) | — | (653.5 | ) | |||||||||||||||||||||
Operating income (loss) | (7.1 | ) | — | — | 0.1 | 16.7 | (0.1 | ) | 442.6 | — | 452.2 | ||||||||||||||||||||||||
Equity earnings (loss) in subsidiaries, net of tax | 91.3 | 90.4 | 58.4 | (32.1 | ) | 243.6 | 13.4 | — | (465.0 | ) | — | ||||||||||||||||||||||||
Interest expense | — | — | — | (32.0 | ) | (12.2 | ) | (10.6 | ) | (1.0 | ) | — | (55.8 | ) | |||||||||||||||||||||
Intercompany interest and fees | (6.2 | ) | — | (5.3 | ) | (7.0 | ) | (64.9 | ) | (0.6 | ) | 84.0 | — | — | |||||||||||||||||||||
Other income/(expense), net | 0.1 | — | 0.1 | — | 0.1 | — | 21.7 | — | 22.0 | ||||||||||||||||||||||||||
Earnings (loss) before income taxes | 78.1 | 90.4 | 53.2 | (71.0 | ) | 183.3 | 2.1 | 547.3 | (465.0 | ) | 418.4 | ||||||||||||||||||||||||
Benefit (provision) for income taxes | 0.8 | — | — | 14.1 | (211.2 | ) | — | (135.1 | ) | — | (331.4 | ) | |||||||||||||||||||||||
Earnings (loss) from continuing operations | 78.9 | 90.4 | 53.2 | (56.9 | ) | (27.9 | ) | 2.1 | 412.2 | (465.0 | ) | 87.0 | |||||||||||||||||||||||
Discontinued operations, net of tax | — | — | — | — | (4.4 | ) | — | 0.3 | — | (4.1 | ) | ||||||||||||||||||||||||
Net earnings (loss) | 78.9 | 90.4 | 53.2 | (56.9 | ) | (32.3 | ) | 2.1 | 412.5 | (465.0 | ) | 82.9 | |||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | — | (4.0 | ) | — | (4.0 | ) | ||||||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 78.9 | $ | 90.4 | $ | 53.2 | $ | (56.9 | ) | $ | (32.3 | ) | $ | 2.1 | $ | 408.5 | $ | (465.0 | ) | $ | 78.9 | ||||||||||||||
Other comprehensive income (loss), net of tax | 61.3 | 61.6 | 45.8 | 6.3 | 6.1 | 4.3 | 39.7 | (163.8 | ) | 61.3 | |||||||||||||||||||||||||
Comprehensive income (loss) attributable to Ingersoll-Rand plc | $ | 140.2 | $ | 152.0 | $ | 99.0 | $ | (50.6 | ) | $ | (26.2 | ) | $ | 6.4 | $ | 448.2 | $ | (628.8 | ) | $ | 140.2 |
in millions | Plc | Irish Holdings | Lux International | Global Holding | New Jersey | Lux Finance | Other Subsidiaries | Consolidating Adjustments | Consolidated | ||||||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 707.5 | $ | — | $ | 5,976.5 | $ | (196.0 | ) | $ | 6,488.0 | ||||||||||||||||
Cost of goods sold | — | — | — | — | (507.9 | ) | — | (4,269.3 | ) | 196.0 | (4,581.2 | ) | |||||||||||||||||||||||
Selling and administrative expenses | (8.9 | ) | — | — | — | (198.7 | ) | (0.4 | ) | (1,075.5 | ) | — | (1,283.5 | ) | |||||||||||||||||||||
Operating income (loss) | (8.9 | ) | — | — | — | 0.9 | (0.4 | ) | 631.7 | — | 623.3 | ||||||||||||||||||||||||
Equity earnings (loss) in subsidiaries, net of tax | 148.8 | 146.7 | 84.3 | (43.1 | ) | 308.0 | 20.5 | — | (665.2 | ) | — | ||||||||||||||||||||||||
Interest expense | — | — | — | (63.9 | ) | (24.3 | ) | (20.8 | ) | (1.9 | ) | — | (110.9 | ) | |||||||||||||||||||||
Intercompany interest and fees | (11.8 | ) | — | (10.5 | ) | (13.8 | ) | (127.2 | ) | (1.1 | ) | 164.4 | — | — | |||||||||||||||||||||
Other income/(expense), net | 1.1 | — | 0.1 | — | 1.4 | — | (7.0 | ) | — | (4.4 | ) | ||||||||||||||||||||||||
Earnings (loss) before income taxes | 129.2 | 146.7 | 73.9 | (120.8 | ) | 158.8 | (1.8 | ) | 787.2 | (665.2 | ) | 508.0 | |||||||||||||||||||||||
Benefit (provision) for income taxes | 1.0 | — | — | 28.2 | (188.5 | ) | — | (199.0 | ) | — | (358.3 | ) | |||||||||||||||||||||||
Earnings (loss) from continuing operations | 130.2 | 146.7 | 73.9 | (92.6 | ) | (29.7 | ) | (1.8 | ) | 588.2 | (665.2 | ) | 149.7 | ||||||||||||||||||||||
Discontinued operations, net of tax | — | — | — | — | (13.5 | ) | — | 2.1 | — | (11.4 | ) | ||||||||||||||||||||||||
Net earnings (loss) | 130.2 | 146.7 | 73.9 | (92.6 | ) | (43.2 | ) | (1.8 | ) | 590.3 | (665.2 | ) | 138.3 | ||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | — | (8.1 | ) | — | (8.1 | ) | ||||||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 130.2 | $ | 146.7 | $ | 73.9 | $ | (92.6 | ) | $ | (43.2 | ) | $ | (1.8 | ) | $ | 582.2 | $ | (665.2 | ) | $ | 130.2 | |||||||||||||
Other comprehensive income (loss), net of tax | (218.8 | ) | (218.4 | ) | (193.0 | ) | (0.4 | ) | (0.6 | ) | (20.4 | ) | (167.3 | ) | 600.1 | (218.8 | ) | ||||||||||||||||||
Comprehensive income (loss) attributable to Ingersoll-Rand plc | $ | (88.6 | ) | $ | (71.7 | ) | $ | (119.1 | ) | $ | (93.0 | ) | $ | (43.8 | ) | $ | (22.2 | ) | $ | 414.9 | $ | (65.1 | ) | $ | (88.6 | ) |
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 | $ | — | $ | — | $ | — | $ | — | $ | 216.5 | $ | — | $ | 712.3 | $ | — | $ | 928.8 | |||||||||||||||||
Accounts and notes receivable, net | — | — | — | — | 159.0 | — | 2,339.0 | — | 2,498.0 | ||||||||||||||||||||||||||
Inventories, net | — | — | — | — | 216.3 | — | 1,385.0 | — | 1,601.3 | ||||||||||||||||||||||||||
Other current assets | 1.0 | — | — | 10.4 | 164.5 | — | 231.0 | (42.0 | ) | 364.9 | |||||||||||||||||||||||||
Intercompany receivables | 172.4 | — | 6.6 | 412.4 | 2,955.8 | — | 16,336.6 | (19,883.8 | ) | — | |||||||||||||||||||||||||
Total current assets | 173.4 | — | 6.6 | 422.8 | 3,712.1 | — | 21,003.9 | (19,925.8 | ) | 5,393.0 | |||||||||||||||||||||||||
Property, plant and equipment, net | — | — | — | — | 457.8 | — | 1,103.0 | — | 1,560.8 | ||||||||||||||||||||||||||
Goodwill and other intangible assets, net | — | — | — | — | 421.7 | — | 9,208.2 | — | 9,629.9 | ||||||||||||||||||||||||||
Other noncurrent assets | 0.2 | — | — | 274.7 | 717.8 | — | 549.9 | (695.8 | ) | 846.8 | |||||||||||||||||||||||||
Investments in consolidated subsidiaries | 11,777.6 | 1,125.2 | 14,650.7 | 6,883.6 | 14,694.6 | 1,679.1 | — | (50,810.8 | ) | — | |||||||||||||||||||||||||
Intercompany notes receivable | — | 18,048.4 | — | — | — | — | 3,851.8 | (21,900.2 | ) | — | |||||||||||||||||||||||||
Total assets | $ | 11,951.2 | $ | 19,173.6 | $ | 14,657.3 | $ | 7,581.1 | $ | 20,004.0 | $ | 1,679.1 | $ | 35,716.8 | $ | (93,332.6 | ) | $ | 17,430.5 | ||||||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses | $ | 6.9 | $ | — | $ | 0.2 | $ | 65.8 | $ | 596.1 | $ | 7.1 | $ | 2,771.0 | $ | (41.2 | ) | $ | 3,405.9 | ||||||||||||||||
Short-term borrowings and current maturities of long-term debt | — | — | — | — | 350.4 | — | 10.8 | — | 361.2 | ||||||||||||||||||||||||||
Intercompany payables | 5,529.9 | — | 4,016.6 | 1,062.5 | 8,504.7 | 668.6 | 101.6 | (19,883.9 | ) | — | |||||||||||||||||||||||||
Total current liabilities | 5,536.8 | — | 4,016.8 | 1,128.3 | 9,451.2 | 675.7 | 2,883.4 | (19,925.1 | ) | 3,767.1 | |||||||||||||||||||||||||
Long-term debt | — | — | — | 2,285.5 | 334.2 | 1,087.7 | 17.4 | — | 3,724.8 | ||||||||||||||||||||||||||
Other noncurrent liabilities | — | — | — | 8.6 | 1,329.8 | — | 2,818.3 | (696.1 | ) | 3,460.6 | |||||||||||||||||||||||||
Intercompany notes payable | — | — | 18,048.4 | 1,817.2 | 2,034.6 | — | — | (21,900.2 | ) | — | |||||||||||||||||||||||||
Total liabilities | 5,536.8 | — | 22,065.2 | 5,239.6 | 13,149.8 | 1,763.4 | 5,719.1 | (42,521.4 | ) | 10,952.5 | |||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||||||||
Total equity | 6,414.4 | 19,173.6 | (7,407.9 | ) | 2,341.5 | 6,854.2 | (84.3 | ) | 29,997.7 | (50,811.2 | ) | 6,478.0 | |||||||||||||||||||||||
Total liabilities and equity | $ | 11,951.2 | $ | 19,173.6 | $ | 14,657.3 | $ | 7,581.1 | $ | 20,004.0 | $ | 1,679.1 | $ | 35,716.8 | $ | (93,332.6 | ) | $ | 17,430.5 |
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 | $ | — | $ | — | $ | — | $ | 11.4 | $ | — | $ | 0.1 | $ | 725.3 | $ | — | $ | 736.8 | |||||||||||||||||
Accounts and notes receivable, net | — | — | — | — | 160.7 | — | 1,989.9 | — | 2,150.6 | ||||||||||||||||||||||||||
Inventories, net | — | — | — | — | 192.0 | — | 1,218.7 | — | 1,410.7 | ||||||||||||||||||||||||||
Other current assets | 0.1 | — | — | 6.4 | 83.3 | — | 237.5 | (16.0 | ) | 311.3 | |||||||||||||||||||||||||
Intercompany receivables | 136.8 | — | 3.3 | 102.2 | 1,413.4 | — | 35,404.3 | (37,060.0 | ) | — | |||||||||||||||||||||||||
Total current assets | 136.9 | — | 3.3 | 120.0 | 1,849.4 | 0.1 | 39,575.7 | (37,076.0 | ) | 4,609.4 | |||||||||||||||||||||||||
Property, plant and equipment, net | — | — | — | — | 463.0 | — | 1,112.1 | — | 1,575.1 | ||||||||||||||||||||||||||
Goodwill and other intangible assets, net | — | — | — | — | 411.6 | — | 9,244.7 | — | 9,656.3 | ||||||||||||||||||||||||||
Other noncurrent assets | 0.2 | — | — | 283.8 | 733.4 | — | 568.4 | (709.0 | ) | 876.8 | |||||||||||||||||||||||||
Investments in consolidated subsidiaries | 10,139.0 | 20,387.2 | 13,419.7 | 6,438.1 | 13,925.1 | 1,583.2 | — | (65,892.3 | ) | — | |||||||||||||||||||||||||
Intercompany notes receivable | — | — | — | — | — | — | 2,876.7 | (2,876.7 | ) | — | |||||||||||||||||||||||||
Total assets | $ | 10,276.1 | $ | 20,387.2 | $ | 13,423.0 | $ | 6,841.9 | $ | 17,382.5 | $ | 1,583.3 | $ | 53,377.6 | $ | (106,554.0 | ) | $ | 16,717.6 | ||||||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses | 7.1 | — | 0.1 | 30.7 | 597.6 | 6.3 | 2,518.3 | (15.9 | ) | 3,144.2 | |||||||||||||||||||||||||
Short-term borrowings and current maturities of long-term debt | — | — | — | — | 350.4 | 143.0 | 10.8 | — | 504.2 | ||||||||||||||||||||||||||
Intercompany payables | 4,452.3 | 143.6 | 23,529.0 | 1,997.8 | 5,858.1 | 745.5 | 334.0 | (37,060.3 | ) | — | |||||||||||||||||||||||||
Total current liabilities | 4,459.4 | 143.6 | 23,529.1 | 2,028.5 | 6,806.1 | 894.8 | 2,863.1 | (37,076.2 | ) | 3,648.4 | |||||||||||||||||||||||||
Long-term debt | — | — | — | 2,284.4 | 341.6 | 1,086.9 | 0.7 | — | 3,713.6 | ||||||||||||||||||||||||||
Other noncurrent liabilities | — | — | — | 8.3 | 1,367.9 | — | 2,809.1 | (708.9 | ) | 3,476.4 | |||||||||||||||||||||||||
Intercompany notes payable | — | — | — | 429.0 | 2,447.7 | — | — | (2,876.7 | ) | — | |||||||||||||||||||||||||
Total liabilities | 4,459.4 | 143.6 | 23,529.1 | 4,750.2 | 10,963.3 | 1,981.7 | 5,672.9 | (40,661.8 | ) | 10,838.4 | |||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||||||||
Total equity | 5,816.7 | 20,243.6 | (10,106.1 | ) | 2,091.7 | 6,419.2 | (398.4 | ) | 47,704.7 | (65,892.2 | ) | 5,879.2 | |||||||||||||||||||||||
Total liabilities and equity | $ | 10,276.1 | $ | 20,387.2 | $ | 13,423.0 | $ | 6,841.9 | $ | 17,382.5 | $ | 1,583.3 | $ | 53,377.6 | $ | (106,554.0 | ) | $ | 16,717.6 |
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 | $ | (40.4 | ) | $ | — | $ | (11.4 | ) | $ | (134.7 | ) | $ | 247.5 | $ | (20.8 | ) | $ | 354.3 | $ | — | $ | 394.5 | |||||||||||||
Net cash provided by (used in) discontinued operating activities | — | — | — | — | 18.7 | — | 6.5 | — | 25.2 | ||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | (40.4 | ) | — | (11.4 | ) | (134.7 | ) | 266.2 | (20.8 | ) | 360.8 | — | 419.7 | ||||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||||||||||||||||||||||
Capital expenditures | — | — | — | — | (39.0 | ) | — | (44.0 | ) | — | (83.0 | ) | |||||||||||||||||||||||
Acquisition of businesses, net of cash acquired | — | — | — | — | (9.2 | ) | — | — | — | (9.2 | ) | ||||||||||||||||||||||||
Proceeds from sale of property, plant and equipment | — | — | — | — | — | — | 2.4 | — | 2.4 | ||||||||||||||||||||||||||
Proceeds from sale of Hussmann equity investment | — | — | — | — | — | — | 422.5 | — | 422.5 | ||||||||||||||||||||||||||
Intercompany investing activities, net | (160.0 | ) | (19,535.7 | ) | (3.5 | ) | (314.8 | ) | 65.7 | 243.7 | (919.3 | ) | 20,623.9 | — | |||||||||||||||||||||
Net cash provided by (used in) investing activities | (160.0 | ) | (19,535.7 | ) | (3.5 | ) | (314.8 | ) | 17.5 | 243.7 | (538.4 | ) | 20,623.9 | 332.7 | |||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||||||||||||||||
Net proceeds (repayments) in debt | — | — | — | — | (7.6 | ) | (143.0 | ) | — | — | (150.6 | ) | |||||||||||||||||||||||
Debt issuance costs | — | — | — | (2.1 | ) | — | — | — | — | (2.1 | ) | ||||||||||||||||||||||||
Dividends paid to ordinary shareholders | (162.5 | ) | — | — | — | — | — | — | — | (162.5 | ) | ||||||||||||||||||||||||
Dividends paid to noncontrolling interests | — | — | — | — | — | — | (6.7 | ) | — | (6.7 | ) | ||||||||||||||||||||||||
Repurchase of ordinary shares | (250.1 | ) | — | — | — | — | — | — | — | (250.1 | ) | ||||||||||||||||||||||||
Other financing activities, net | 9.2 | — | — | — | — | — | — | — | 9.2 | ||||||||||||||||||||||||||
Intercompany financing activities, net | 603.8 | 19,535.7 | 14.9 | 440.2 | (59.6 | ) | (80.0 | ) | 168.9 | (20,623.9 | ) | — | |||||||||||||||||||||||
Net cash provided by (used in) financing activities | 200.4 | 19,535.7 | 14.9 | 438.1 | (67.2 | ) | (223.0 | ) | 162.2 | (20,623.9 | ) | (562.8 | ) | ||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | — | — | — | 2.4 | — | 2.4 | ||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | — | — | (11.4 | ) | 216.5 | (0.1 | ) | (13.0 | ) | — | 192.0 | |||||||||||||||||||||||
Cash and cash equivalents - beginning of period | — | — | — | 11.4 | — | 0.1 | 725.3 | — | 736.8 | ||||||||||||||||||||||||||
Cash and cash equivalents - end of period | $ | — | $ | — | $ | — | $ | — | $ | 216.5 | $ | — | $ | 712.3 | $ | — | $ | 928.8 |
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 | $ | (37.0 | ) | $ | (1.2 | ) | $ | (10.7 | ) | $ | (61.3 | ) | $ | (984.1 | ) | $ | (14.8 | ) | $ | 1,292.8 | $ | — | $ | 183.7 | |||||||||||
Net cash provided by (used in) discontinued operating activities | — | — | — | — | (13.5 | ) | — | (0.2 | ) | — | $ | (13.7 | ) | ||||||||||||||||||||||
Net cash provided by (used in) operating activities | (37.0 | ) | (1.2 | ) | (10.7 | ) | (61.3 | ) | (997.6 | ) | (14.8 | ) | 1,292.6 | — | 170.0 | ||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||||||||||||||||||||||
Capital expenditures | — | — | — | — | (58.2 | ) | — | (57.1 | ) | — | (115.3 | ) | |||||||||||||||||||||||
Acquisition of businesses, net of cash acquired | — | — | — | — | (448.1 | ) | — | (493.6 | ) | — | (941.7 | ) | |||||||||||||||||||||||
Proceeds from sale of property, plant and equipment | — | — | — | — | — | — | 5.7 | — | 5.7 | ||||||||||||||||||||||||||
Intercompany investing activities, net | — | 1.2 | 73.3 | 228.2 | 54.8 | (228.0 | ) | (1,002.1 | ) | 872.6 | — | ||||||||||||||||||||||||
Net cash provided by (used in) investing activities | — | 1.2 | 73.3 | 228.2 | (451.5 | ) | (228.0 | ) | (1,547.1 | ) | 872.6 | (1,051.3 | ) | ||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||||||||||||||||
Net proceeds (repayments) in debt | — | — | — | — | (7.5 | ) | 184.7 | (16.2 | ) | — | 161.0 | ||||||||||||||||||||||||
Dividends paid to ordinary shareholders | (151.3 | ) | — | — | — | — | — | — | — | (151.3 | ) | ||||||||||||||||||||||||
Dividends paid to noncontrolling interests | — | — | — | — | — | — | (5.2 | ) | — | (5.2 | ) | ||||||||||||||||||||||||
Other financing activities, net | 45.3 | — | — | — | — | — | — | — | 45.3 | ||||||||||||||||||||||||||
Intercompany financing activities, net | 143.0 | — | (63.7 | ) | (166.9 | ) | 1,031.2 | 58.5 | (129.5 | ) | (872.6 | ) | — | ||||||||||||||||||||||
Net cash provided by (used in) financing activities | 37.0 | — | (63.7 | ) | (166.9 | ) | 1,023.7 | 243.2 | (150.9 | ) | (872.6 | ) | 49.8 | ||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | — | — | — | (94.1 | ) | — | (94.1 | ) | ||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | — | (1.1 | ) | — | (425.4 | ) | 0.4 | (499.5 | ) | — | (925.6 | ) | ||||||||||||||||||||||
Cash and cash equivalents - beginning of period | — | — | 1.1 | — | 425.4 | — | 1,278.7 | — | 1,705.2 | ||||||||||||||||||||||||||
Cash and cash equivalents - end of period | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.4 | $ | 779.2 | $ | — | $ | 779.6 |
|
In millions | June 30, 2016 | December 31, 2015 | |||||
Raw materials | $ | 519.8 | $ | 514.9 | |||
Work-in-process | 187.2 | 131.0 | |||||
Finished goods | 956.5 | 825.7 | |||||
1,663.5 | 1,471.6 | ||||||
LIFO reserve | (62.2 | ) | (60.9 | ) | |||
Total | $ | 1,601.3 | $ | 1,410.7 |
|
In millions | Climate | Industrial | Total | ||||||||
Net balance as of December 31, 2015 | $ | 4,952.6 | $ | 777.6 | $ | 5,730.2 | |||||
Acquisitions | — | 12.8 | 12.8 | ||||||||
Currency translation | 18.8 | 1.9 | 20.7 | ||||||||
Net balance as of June 30, 2016 | $ | 4,971.4 | $ | 792.3 | $ | 5,763.7 |
|
June 30, 2016 | December 31, 2015 | |||||||||||||||||||||||
In millions | Gross carrying amount | Accumulated amortization | Net carrying amount | Gross carrying amount | Accumulated amortization | Net carrying amount | ||||||||||||||||||
Completed technologies/patents | $ | 215.4 | $ | (173.0 | ) | $ | 42.4 | $ | 214.9 | $ | (168.7 | ) | $ | 46.2 | ||||||||||
Customer relationships | 2,023.1 | (871.7 | ) | 1,151.4 | 2,019.8 | (811.5 | ) | 1,208.3 | ||||||||||||||||
Other | 66.2 | (48.3 | ) | 17.9 | 63.5 | (45.7 | ) | 17.8 | ||||||||||||||||
Total finite-lived intangible assets | 2,304.7 | (1,093.0 | ) | 1,211.7 | 2,298.2 | (1,025.9 | ) | 1,272.3 | ||||||||||||||||
Trademarks (indefinite-lived) | 2,654.5 | — | 2,654.5 | 2,653.8 | — | 2,653.8 | ||||||||||||||||||
Total | $ | 4,959.2 | $ | (1,093.0 | ) | $ | 3,866.2 | $ | 4,952.0 | $ | (1,025.9 | ) | $ | 3,926.1 |
|
In millions | June 30, 2016 | December 31, 2015 | |||||
Debentures with put feature | $ | 343.0 | $ | 343.0 | |||
Commercial Paper | — | 143.0 | |||||
Other current maturities of long-term debt | 7.8 | 7.8 | |||||
Short-term borrowings | 10.4 | 10.4 | |||||
Total | $ | 361.2 | $ | 504.2 |
In millions | June 30, 2016 | December 31, 2015 | |||||
6.875% Senior notes due 2018 | $ | 748.3 | $ | 748.0 | |||
2.875% Senior notes due 2019 | 348.4 | 348.1 | |||||
2.625% Senior notes due 2020 | 298.2 | 298.0 | |||||
9.000% Debentures due 2021 | 124.8 | 124.8 | |||||
4.250% Senior notes due 2023 | 695.3 | 695.0 | |||||
7.200% Debentures due 2016-2025 | 59.7 | 67.1 | |||||
3.550% Senior notes due 2024 | 494.1 | 493.7 | |||||
6.480% Debentures due 2025 | 149.7 | 149.7 | |||||
5.750% Senior notes due 2043 | 493.4 | 493.4 | |||||
4.650% Senior notes due 2044 | 295.3 | 295.2 | |||||
Other loans and notes | 17.6 | 0.6 | |||||
Total | 3,724.8 | 3,713.6 |
|
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 | 2016 | 2015 | 2016 | 2015 | |||||||||||||
Currency derivatives designated as hedges | $ | 6.6 | $ | 0.1 | Cost of goods sold | $ | 2.0 | $ | (1.3 | ) | |||||||
Interest rate swaps & locks | — | — | Interest expense | (0.3 | ) | (0.3 | ) | ||||||||||
Total | $ | 6.6 | $ | 0.1 | $ | 1.7 | $ | (1.6 | ) |
Amount of gain (loss) recognized in Net earnings | ||||||||
In millions | 2016 | 2015 | ||||||
Currency derivatives not designated as hedges | $ | 11.4 | $ | 17.3 | ||||
Total | $ | 11.4 | $ | 17.3 |
|
In Millions | Fair Value | Fair value measurements | |||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||
Assets: | |||||||||||||||
Derivative instruments | $ | 5.0 | $ | — | $ | 5.0 | $ | — | |||||||
Liabilities: | |||||||||||||||
Derivative instruments | $ | 12.6 | $ | — | $ | 12.6 | $ | — |
In Millions | Fair Value | Fair value measurements | |||||||||||||
Level 1 | Level 2 | Level 3 | |||||||||||||
Assets: | |||||||||||||||
Derivative instruments | $ | 10.1 | $ | — | $ | 10.1 | $ | — | |||||||
Liabilities: | |||||||||||||||
Derivative instruments | $ | 8.2 | $ | — | $ | 8.2 | $ | — |
|
Three months ended | Six months ended | ||||||||||||||
In millions | 2016 | 2015 | 2016 | 2015 | |||||||||||
Service cost | $ | 18.3 | $ | 18.8 | $ | 36.5 | $ | 37.7 | |||||||
Interest cost | 28.5 | 32.6 | 56.9 | 65.2 | |||||||||||
Expected return on plan assets | (36.1 | ) | (39.6 | ) | (72.2 | ) | (79.2 | ) | |||||||
Net amortization of: | |||||||||||||||
Prior service costs | 1.2 | 0.8 | 2.4 | 1.6 | |||||||||||
Net actuarial losses | 15.1 | 15.5 | 30.3 | 30.9 | |||||||||||
Net periodic pension benefit cost | $ | 27.0 | $ | 28.1 | $ | 53.9 | $ | 56.2 | |||||||
Amounts recorded in continuing operations | $ | 24.5 | $ | 25.4 | $ | 48.9 | $ | 50.9 | |||||||
Amounts recorded in discontinued operations | 2.5 | 2.7 | 5.0 | 5.3 | |||||||||||
Total | $ | 27.0 | $ | 28.1 | $ | 53.9 | $ | 56.2 |
Three months ended | Six months ended | ||||||||||||||
In millions | 2016 | 2015 | 2016 | 2015 | |||||||||||
Service cost | $ | 1.0 | $ | 1.1 | $ | 1.9 | $ | 2.1 | |||||||
Interest cost | 4.5 | 5.9 | 9.0 | 11.9 | |||||||||||
Net amortization of: | |||||||||||||||
Prior service gains | (2.2 | ) | (2.2 | ) | (4.4 | ) | (4.4 | ) | |||||||
Net actuarial losses | — | 0.1 | — | 0.2 | |||||||||||
Net periodic postretirement benefit cost | $ | 3.3 | $ | 4.9 | $ | 6.5 | $ | 9.8 | |||||||
Amounts recorded in continuing operations | $ | 2.2 | $ | 3.0 | $ | 4.3 | $ | 6.0 | |||||||
Amounts recorded in discontinued operations | 1.1 | 1.9 | 2.2 | 3.8 | |||||||||||
Total | $ | 3.3 | $ | 4.9 | $ | 6.5 | $ | 9.8 |
|
In millions | Ordinary shares issued | Ordinary shares held in treasury | |||
December 31, 2015 | 269.0 | 7.8 | |||
Shares issued under incentive plans, net | 1.4 | — | |||
Repurchase of ordinary shares | — | 4.9 | |||
June 30, 2016 | 270.4 | 12.7 |
In millions | Shareholders’ equity | Noncontrolling interests | Total equity | ||||||||
Balance at December 31, 2015 | $ | 5,816.7 | $ | 62.5 | $ | 5,879.2 | |||||
Net earnings | 900.0 | 8.0 | 908.0 | ||||||||
Currency translation | 34.1 | (0.2 | ) | 33.9 | |||||||
Derivatives qualifying as cash flow hedges, net of tax | 4.4 | — | 4.4 | ||||||||
Pension and OPEB adjustments, net of tax | 28.5 | — | 28.5 | ||||||||
Total comprehensive income (loss) | 967.0 | 7.8 | 974.8 | ||||||||
Share-based compensation | 36.8 | — | 36.8 | ||||||||
Dividends declared to noncontrolling interests | — | (6.7 | ) | (6.7 | ) | ||||||
Dividends declared to ordinary shareholders | (164.8 | ) | — | (164.8 | ) | ||||||
Shares issued under incentive plans, net of tax benefit | 9.2 | — | 9.2 | ||||||||
Repurchase of ordinary shares | (250.1 | ) | — | (250.1 | ) | ||||||
Other items, net | (0.4 | ) | — | (0.4 | ) | ||||||
Balance at June 30, 2016 | $ | 6,414.4 | $ | 63.6 | $ | 6,478.0 |
In millions | Shareholders’ equity | Noncontrolling interests | Total equity | ||||||||
Balance at December 31, 2014 | $ | 5,987.4 | $ | 58.0 | $ | 6,045.4 | |||||
Net earnings | 130.2 | 8.1 | 138.3 | ||||||||
Currency translation | (243.8 | ) | (1.0 | ) | (244.8 | ) | |||||
Derivatives qualifying as cash flow hedges, net of tax | 1.4 | — | 1.4 | ||||||||
Pension and OPEB adjustments, net of tax | 23.6 | — | 23.6 | ||||||||
Total comprehensive income (loss) | (88.6 | ) | 7.1 | (81.5 | ) | ||||||
Share-based compensation | 36.9 | — | 36.9 | ||||||||
Dividends declared to noncontrolling interests | — | (5.2 | ) | (5.2 | ) | ||||||
Dividends declared to ordinary shareholders | (153.4 | ) | — | (153.4 | ) | ||||||
Shares issued under incentive plans, net of tax benefit | 45.3 | — | 45.3 | ||||||||
Balance at June 30, 2015 | $ | 5,827.6 | $ | 59.9 | $ | 5,887.5 |
In millions | Derivative Instruments | Pension and OPEB | Foreign Currency Translation | Total | ||||||||||||
Balance at December 31, 2015 | $ | 5.1 | $ | (630.4 | ) | $ | (495.6 | ) | $ | (1,120.9 | ) | |||||
Other comprehensive income (loss) before reclassifications | 6.6 | 9.8 | 34.1 | 50.5 | ||||||||||||
Amounts reclassified from AOCI | (1.7 | ) | 28.3 | — | 26.6 | |||||||||||
Provision for income taxes | (0.5 | ) | (9.6 | ) | — | (10.1 | ) | |||||||||
Net current period other comprehensive income (loss) | $ | 4.4 | $ | 28.5 | $ | 34.1 | $ | 67.0 | ||||||||
Balance at June 30, 2016 | $ | 9.5 | $ | (601.9 | ) | $ | (461.5 | ) | $ | (1,053.9 | ) |
In millions | Derivative Instruments | Pension and OPEB | Foreign Currency Translation | Total | ||||||||||||
Balance at December 31, 2014 | $ | 3.1 | $ | (665.1 | ) | $ | (52.3 | ) | $ | (714.3 | ) | |||||
Other comprehensive income (loss) before reclassifications | 0.3 | 6.5 | (243.8 | ) | (237.0 | ) | ||||||||||
Amounts reclassified from AOCI | 1.6 | 28.3 | — | 29.9 | ||||||||||||
Provision for income taxes | (0.5 | ) | (11.2 | ) | — | (11.7 | ) | |||||||||
Net current period other comprehensive income (loss) | $ | 1.4 | $ | 23.6 | $ | (243.8 | ) | $ | (218.8 | ) | ||||||
Balance at June 30, 2015 | $ | 4.5 | $ | (641.5 | ) | $ | (296.1 | ) | $ | (933.1 | ) |
Three months ended | Six months ended | |||||||||||||||
In millions | 2016 | 2015 | 2016 | 2015 | ||||||||||||
Derivative Instruments | ||||||||||||||||
Reclassifications of deferred (gains) losses (1) | $ | (1.1 | ) | $ | 0.7 | $ | (1.7 | ) | $ | 1.6 | ||||||
Provision (benefit) for income taxes | 0.2 | — | 0.2 | — | ||||||||||||
Reclassifications, net of taxes | $ | (0.9 | ) | $ | 0.7 | $ | (1.5 | ) | $ | 1.6 | ||||||
Pension and Postretirement benefits | ||||||||||||||||
Amortization of service costs (2) | $ | (1.0 | ) | $ | (1.4 | ) | $ | (2.0 | ) | $ | (2.8 | ) | ||||
Amortization of actuarial losses (2) | 15.1 | 15.6 | 30.3 | 31.1 | ||||||||||||
Provision for (benefit from) for income taxes | (5.1 | ) | (4.7 | ) | (9.6 | ) | (11.2 | ) | ||||||||
Reclassifications, net of taxes | $ | 9.0 | $ | 9.5 | $ | 18.7 | $ | 17.1 | ||||||||
Total reclassifications, net of taxes | $ | 8.1 | $ | 10.2 | $ | 17.2 | $ | 18.7 |
|
Three months ended | Six months ended | ||||||||||||||
In millions | 2016 | 2015 | 2016 | 2015 | |||||||||||
Interest income | $ | 2.6 | $ | 2.4 | $ | 4.6 | $ | 5.3 | |||||||
Exchange gain (loss) | 3.8 | (0.1 | ) | 9.3 | (32.4 | ) | |||||||||
Income (loss) from equity investment | — | 3.6 | (0.8 | ) | 4.2 | ||||||||||
Gain on sale of Hussmann equity investment | 397.8 | — | 397.8 | — | |||||||||||
Other activity, net | (1.2 | ) | 16.1 | 2.1 | 18.5 | ||||||||||
Other income/(expense), net | $ | 403.0 | $ | 22.0 | $ | 413.0 | $ | (4.4 | ) |
|
Three months ended | Six months ended | ||||||||||||||
In millions | 2016 | 2015 | 2016 | 2015 | |||||||||||
Pre-tax earnings (loss) from discontinued operations | $ | (8.4 | ) | $ | (9.7 | ) | $ | 12.6 | $ | (18.8 | ) | ||||
Tax benefit (expense) | 1.6 | 5.6 | 7.5 | 7.4 | |||||||||||
Discontinued operations, net of tax | $ | (6.8 | ) | $ | (4.1 | ) | $ | 20.1 | $ | (11.4 | ) |
|
Three months ended | Six months ended | ||||||||||||||
In millions | 2016 | 2015 | 2016 | 2015 | |||||||||||
Net revenues | |||||||||||||||
Climate | $ | 2,934.8 | $ | 2,815.5 | $ | 5,148.3 | $ | 4,974.0 | |||||||
Industrial | 753.4 | 784.7 | 1,434.0 | 1,514.0 | |||||||||||
Total | $ | 3,688.2 | $ | 3,600.2 | $ | 6,582.3 | $ | 6,488.0 | |||||||
Segment operating income | |||||||||||||||
Climate | $ | 493.9 | $ | 402.4 | $ | 708.3 | $ | 553.3 | |||||||
Industrial | 68.8 | 90.7 | 131.3 | 165.5 | |||||||||||
Unallocated corporate expense | (57.5 | ) | (40.9 | ) | (117.1 | ) | (95.5 | ) | |||||||
Operating income | $ | 505.2 | $ | 452.2 | $ | 722.5 | $ | 623.3 |
|
In millions | June 30, 2016 | December 31, 2015 | |||||
Accrued expenses and other current liabilities | $ | 67.0 | $ | 65.7 | |||
Other noncurrent liabilities | 608.3 | 648.0 | |||||
Total asbestos-related liabilities | $ | 675.3 | $ | 713.7 | |||
Other current assets | $ | 54.0 | $ | 51.3 | |||
Other noncurrent assets | 240.0 | 264.3 | |||||
Total asset for probable asbestos-related insurance recoveries | $ | 294.0 | $ | 315.6 |
Three months ended | Six months ended | ||||||||||||||
In millions | 2016 | 2015 | 2016 | 2015 | |||||||||||
Continuing operations | $ | 0.2 | $ | 16.4 | $ | 2.1 | $ | 17.7 | |||||||
Discontinued operations | (4.2 | ) | (4.4 | ) | 19.8 | (5.7 | ) | ||||||||
Total | $ | (4.0 | ) | $ | 12.0 | $ | 21.9 | $ | 12.0 |
In millions | 2016 | 2015 | |||||
Balance at beginning of period | $ | 262.0 | $ | 253.6 | |||
Reductions for payments | (68.7 | ) | (68.1 | ) | |||
Accruals for warranties issued during the current period | 63.0 | 65.9 | |||||
Accruals for warranties assumed from acquisitions during the current period | — | 9.7 | |||||
Changes to accruals related to preexisting warranties | 5.9 | 5.6 | |||||
Translation | 0.7 | (3.1 | ) | ||||
Balance at end of period | $ | 262.9 | $ | 263.6 |
In millions | 2016 | 2015 | |||||
Balance at beginning of period | $ | 311.6 | $ | 330.1 | |||
Amortization of deferred revenue for the period | (53.8 | ) | (51.1 | ) | |||
Additions for extended warranties issued during the period | 38.4 | 42.6 | |||||
Changes to accruals related to preexisting warranties | 7.1 | 1.6 | |||||
Translation | 0.7 | (1.3 | ) | ||||
Balance at end of period | $ | 304.0 | $ | 321.9 |
|
In millions | Plc | Irish Holdings | Lux International | Global Holding | New Jersey | Lux Finance | Other Subsidiaries | Consolidating Adjustments | Consolidated | ||||||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 321.8 | $ | — | $ | 3,455.2 | $ | (88.8 | ) | $ | 3,688.2 | ||||||||||||||||
Cost of goods sold | — | — | — | — | (244.8 | ) | — | (2,356.3 | ) | 88.8 | (2,512.3 | ) | |||||||||||||||||||||||
Selling and administrative expenses | (5.3 | ) | — | — | — | (115.9 | ) | (0.1 | ) | (549.4 | ) | — | (670.7 | ) | |||||||||||||||||||||
Operating income (loss) | (5.3 | ) | — | — | — | (38.9 | ) | (0.1 | ) | 549.5 | — | 505.2 | |||||||||||||||||||||||
Equity earnings (loss) in subsidiaries, net of tax | 770.0 | 768.0 | 736.7 | 249.8 | 349.2 | 74.7 | — | (2,948.4 | ) | — | |||||||||||||||||||||||||
Interest expense | — | — | — | (31.8 | ) | (12.0 | ) | (11.0 | ) | (1.7 | ) | — | (56.5 | ) | |||||||||||||||||||||
Intercompany interest and fees | (17.6 | ) | — | (9.5 | ) | (41.9 | ) | (69.4 | ) | (1.7 | ) | 140.1 | — | — | |||||||||||||||||||||
Other income/(expense), net | — | — | — | — | (1.1 | ) | — | 404.1 | — | 403.0 | |||||||||||||||||||||||||
Earnings (loss) before income taxes | 747.1 | 768.0 | 727.2 | 176.1 | 227.8 | 61.9 | 1,092.0 | (2,948.4 | ) | 851.7 | |||||||||||||||||||||||||
Benefit (provision) for income taxes | 0.5 | — | — | 26.9 | 29.8 | — | (149.7 | ) | — | (92.5 | ) | ||||||||||||||||||||||||
Earnings (loss) from continuing operations | 747.6 | 768.0 | 727.2 | 203.0 | 257.6 | 61.9 | 942.3 | (2,948.4 | ) | 759.2 | |||||||||||||||||||||||||
Discontinued operations, net of tax | — | — | — | — | (7.2 | ) | — | 0.4 | — | (6.8 | ) | ||||||||||||||||||||||||
Net earnings (loss) | 747.6 | 768.0 | 727.2 | 203.0 | 250.4 | 61.9 | 942.7 | (2,948.4 | ) | 752.4 | |||||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | — | (4.8 | ) | — | (4.8 | ) | ||||||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 747.6 | $ | 768.0 | $ | 727.2 | $ | 203.0 | $ | 250.4 | $ | 61.9 | $ | 937.9 | $ | (2,948.4 | ) | $ | 747.6 | ||||||||||||||||
Other comprehensive income (loss), net of tax | (75.0 | ) | (75.0 | ) | (72.0 | ) | (27.9 | ) | (28.0 | ) | (3.3 | ) | (67.6 | ) | 273.8 | (75.0 | ) | ||||||||||||||||||
Comprehensive income (loss) attributable to Ingersoll-Rand plc | $ | 672.6 | $ | 693.0 | $ | 655.2 | $ | 175.1 | $ | 222.4 | $ | 58.6 | $ | 870.3 | $ | (2,674.6 | ) | $ | 672.6 |
In millions | Plc | Irish Holdings | Lux International | Global Holding | New Jersey | Lux Finance | Other Subsidiaries | Consolidating Adjustments | Consolidated | ||||||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 638.3 | $ | — | $ | 6,122.0 | $ | (178.0 | ) | $ | 6,582.3 | ||||||||||||||||
Cost of goods sold | — | — | — | — | (486.9 | ) | — | (4,250.4 | ) | 178.0 | (4,559.3 | ) | |||||||||||||||||||||||
Selling and administrative expenses | (6.8 | ) | — | (0.1 | ) | — | (248.6 | ) | (0.3 | ) | (1,044.7 | ) | — | (1,300.5 | ) | ||||||||||||||||||||
Operating income (loss) | (6.8 | ) | — | (0.1 | ) | — | (97.2 | ) | (0.3 | ) | 826.9 | — | 722.5 | ||||||||||||||||||||||
Equity earnings (loss) in subsidiaries, net of tax | 937.5 | 925.8 | 871.7 | 288.2 | 453.0 | 92.4 | — | (3,568.6 | ) | — | |||||||||||||||||||||||||
Interest expense | — | — | — | (63.7 | ) | (24.1 | ) | (22.2 | ) | (3.2 | ) | — | (113.2 | ) | |||||||||||||||||||||
Intercompany interest and fees | (31.5 | ) | — | (19.6 | ) | (78.8 | ) | (141.0 | ) | (3.0 | ) | 273.9 | — | — | |||||||||||||||||||||
Other income/(expense), net | 0.1 | — | — | — | (2.6 | ) | — | 415.5 | — | 413.0 | |||||||||||||||||||||||||
Earnings (loss) before income taxes | 899.3 | 925.8 | 852.0 | 145.7 | 188.1 | 66.9 | 1,513.1 | (3,568.6 | ) | 1,022.3 | |||||||||||||||||||||||||
Benefit (provision) for income taxes | 0.7 | — | — | 51.9 | 82.8 | — | (269.8 | ) | — | (134.4 | ) | ||||||||||||||||||||||||
Earnings (loss) from continuing operations | 900.0 | 925.8 | 852.0 | 197.6 | 270.9 | 66.9 | 1,243.3 | (3,568.6 | ) | 887.9 | |||||||||||||||||||||||||
Discontinued operations, net of tax | — | — | — | — | 17.9 | — | 2.2 | — | 20.1 | ||||||||||||||||||||||||||
Net earnings (loss) | 900.0 | 925.8 | 852.0 | 197.6 | 288.8 | 66.9 | 1,245.5 | (3,568.6 | ) | 908.0 | |||||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | — | (8.0 | ) | — | (8.0 | ) | ||||||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 900.0 | $ | 925.8 | $ | 852.0 | $ | 197.6 | $ | 288.8 | $ | 66.9 | $ | 1,237.5 | $ | (3,568.6 | ) | $ | 900.0 | ||||||||||||||||
Other comprehensive income (loss), net of tax | 67.0 | 66.9 | 53.2 | 26.7 | 26.4 | 0.6 | 121.2 | (295.0 | ) | 67.0 | |||||||||||||||||||||||||
Comprehensive income (loss) attributable to Ingersoll-Rand plc | $ | 967.0 | $ | 992.7 | $ | 905.2 | $ | 224.3 | $ | 315.2 | $ | 67.5 | $ | 1,358.7 | $ | (3,863.6 | ) | $ | 967.0 |
In millions | Plc | Irish Holdings | Lux International | Global Holding | New Jersey | Lux Finance | Other Subsidiaries | Consolidating Adjustments | Consolidated | ||||||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 362.8 | $ | — | $ | 3,336.9 | $ | (99.5 | ) | $ | 3,600.2 | ||||||||||||||||
Cost of goods sold | — | — | — | — | (253.8 | ) | — | (2,340.2 | ) | 99.5 | (2,494.5 | ) | |||||||||||||||||||||||
Selling and administrative expenses | (7.1 | ) | — | — | 0.1 | (92.3 | ) | (0.1 | ) | (554.1 | ) | — | (653.5 | ) | |||||||||||||||||||||
Operating income (loss) | (7.1 | ) | — | — | 0.1 | 16.7 | (0.1 | ) | 442.6 | — | 452.2 | ||||||||||||||||||||||||
Equity earnings (loss) in subsidiaries, net of tax | 91.3 | 90.4 | 58.4 | (32.1 | ) | 243.6 | 13.4 | — | (465.0 | ) | — | ||||||||||||||||||||||||
Interest expense | — | — | — | (32.0 | ) | (12.2 | ) | (10.6 | ) | (1.0 | ) | — | (55.8 | ) | |||||||||||||||||||||
Intercompany interest and fees | (6.2 | ) | — | (5.3 | ) | (7.0 | ) | (64.9 | ) | (0.6 | ) | 84.0 | — | — | |||||||||||||||||||||
Other income/(expense), net | 0.1 | — | 0.1 | — | 0.1 | — | 21.7 | — | 22.0 | ||||||||||||||||||||||||||
Earnings (loss) before income taxes | 78.1 | 90.4 | 53.2 | (71.0 | ) | 183.3 | 2.1 | 547.3 | (465.0 | ) | 418.4 | ||||||||||||||||||||||||
Benefit (provision) for income taxes | 0.8 | — | — | 14.1 | (211.2 | ) | — | (135.1 | ) | — | (331.4 | ) | |||||||||||||||||||||||
Earnings (loss) from continuing operations | 78.9 | 90.4 | 53.2 | (56.9 | ) | (27.9 | ) | 2.1 | 412.2 | (465.0 | ) | 87.0 | |||||||||||||||||||||||
Discontinued operations, net of tax | — | — | — | — | (4.4 | ) | — | 0.3 | — | (4.1 | ) | ||||||||||||||||||||||||
Net earnings (loss) | 78.9 | 90.4 | 53.2 | (56.9 | ) | (32.3 | ) | 2.1 | 412.5 | (465.0 | ) | 82.9 | |||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | — | (4.0 | ) | — | (4.0 | ) | ||||||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 78.9 | $ | 90.4 | $ | 53.2 | $ | (56.9 | ) | $ | (32.3 | ) | $ | 2.1 | $ | 408.5 | $ | (465.0 | ) | $ | 78.9 | ||||||||||||||
Other comprehensive income (loss), net of tax | 61.3 | 61.6 | 45.8 | 6.3 | 6.1 | 4.3 | 39.7 | (163.8 | ) | 61.3 | |||||||||||||||||||||||||
Comprehensive income (loss) attributable to Ingersoll-Rand plc | $ | 140.2 | $ | 152.0 | $ | 99.0 | $ | (50.6 | ) | $ | (26.2 | ) | $ | 6.4 | $ | 448.2 | $ | (628.8 | ) | $ | 140.2 |
in millions | Plc | Irish Holdings | Lux International | Global Holding | New Jersey | Lux Finance | Other Subsidiaries | Consolidating Adjustments | Consolidated | ||||||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 707.5 | $ | — | $ | 5,976.5 | $ | (196.0 | ) | $ | 6,488.0 | ||||||||||||||||
Cost of goods sold | — | — | — | — | (507.9 | ) | — | (4,269.3 | ) | 196.0 | (4,581.2 | ) | |||||||||||||||||||||||
Selling and administrative expenses | (8.9 | ) | — | — | — | (198.7 | ) | (0.4 | ) | (1,075.5 | ) | — | (1,283.5 | ) | |||||||||||||||||||||
Operating income (loss) | (8.9 | ) | — | — | — | 0.9 | (0.4 | ) | 631.7 | — | 623.3 | ||||||||||||||||||||||||
Equity earnings (loss) in subsidiaries, net of tax | 148.8 | 146.7 | 84.3 | (43.1 | ) | 308.0 | 20.5 | — | (665.2 | ) | — | ||||||||||||||||||||||||
Interest expense | — | — | — | (63.9 | ) | (24.3 | ) | (20.8 | ) | (1.9 | ) | — | (110.9 | ) | |||||||||||||||||||||
Intercompany interest and fees | (11.8 | ) | — | (10.5 | ) | (13.8 | ) | (127.2 | ) | (1.1 | ) | 164.4 | — | — | |||||||||||||||||||||
Other income/(expense), net | 1.1 | — | 0.1 | — | 1.4 | — | (7.0 | ) | — | (4.4 | ) | ||||||||||||||||||||||||
Earnings (loss) before income taxes | 129.2 | 146.7 | 73.9 | (120.8 | ) | 158.8 | (1.8 | ) | 787.2 | (665.2 | ) | 508.0 | |||||||||||||||||||||||
Benefit (provision) for income taxes | 1.0 | — | — | 28.2 | (188.5 | ) | — | (199.0 | ) | — | (358.3 | ) | |||||||||||||||||||||||
Earnings (loss) from continuing operations | 130.2 | 146.7 | 73.9 | (92.6 | ) | (29.7 | ) | (1.8 | ) | 588.2 | (665.2 | ) | 149.7 | ||||||||||||||||||||||
Discontinued operations, net of tax | — | — | — | — | (13.5 | ) | — | 2.1 | — | (11.4 | ) | ||||||||||||||||||||||||
Net earnings (loss) | 130.2 | 146.7 | 73.9 | (92.6 | ) | (43.2 | ) | (1.8 | ) | 590.3 | (665.2 | ) | 138.3 | ||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | — | (8.1 | ) | — | (8.1 | ) | ||||||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 130.2 | $ | 146.7 | $ | 73.9 | $ | (92.6 | ) | $ | (43.2 | ) | $ | (1.8 | ) | $ | 582.2 | $ | (665.2 | ) | $ | 130.2 | |||||||||||||
Other comprehensive income (loss), net of tax | (218.8 | ) | (218.4 | ) | (193.0 | ) | (0.4 | ) | (0.6 | ) | (20.4 | ) | (167.3 | ) | 600.1 | (218.8 | ) | ||||||||||||||||||
Comprehensive income (loss) attributable to Ingersoll-Rand plc | $ | (88.6 | ) | $ | (71.7 | ) | $ | (119.1 | ) | $ | (93.0 | ) | $ | (43.8 | ) | $ | (22.2 | ) | $ | 414.9 | $ | (65.1 | ) | $ | (88.6 | ) |
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 | $ | — | $ | — | $ | — | $ | — | $ | 216.5 | $ | — | $ | 712.3 | $ | — | $ | 928.8 | |||||||||||||||||
Accounts and notes receivable, net | — | — | — | — | 159.0 | — | 2,339.0 | — | 2,498.0 | ||||||||||||||||||||||||||
Inventories, net | — | — | — | — | 216.3 | — | 1,385.0 | — | 1,601.3 | ||||||||||||||||||||||||||
Other current assets | 1.0 | — | — | 10.4 | 164.5 | — | 231.0 | (42.0 | ) | 364.9 | |||||||||||||||||||||||||
Intercompany receivables | 172.4 | — | 6.6 | 412.4 | 2,955.8 | — | 16,336.6 | (19,883.8 | ) | — | |||||||||||||||||||||||||
Total current assets | 173.4 | — | 6.6 | 422.8 | 3,712.1 | — | 21,003.9 | (19,925.8 | ) | 5,393.0 | |||||||||||||||||||||||||
Property, plant and equipment, net | — | — | — | — | 457.8 | — | 1,103.0 | — | 1,560.8 | ||||||||||||||||||||||||||
Goodwill and other intangible assets, net | — | — | — | — | 421.7 | — | 9,208.2 | — | 9,629.9 | ||||||||||||||||||||||||||
Other noncurrent assets | 0.2 | — | — | 274.7 | 717.8 | — | 549.9 | (695.8 | ) | 846.8 | |||||||||||||||||||||||||
Investments in consolidated subsidiaries | 11,777.6 | 1,125.2 | 14,650.7 | 6,883.6 | 14,694.6 | 1,679.1 | — | (50,810.8 | ) | — | |||||||||||||||||||||||||
Intercompany notes receivable | — | 18,048.4 | — | — | — | — | 3,851.8 | (21,900.2 | ) | — | |||||||||||||||||||||||||
Total assets | $ | 11,951.2 | $ | 19,173.6 | $ | 14,657.3 | $ | 7,581.1 | $ | 20,004.0 | $ | 1,679.1 | $ | 35,716.8 | $ | (93,332.6 | ) | $ | 17,430.5 | ||||||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses | $ | 6.9 | $ | — | $ | 0.2 | $ | 65.8 | $ | 596.1 | $ | 7.1 | $ | 2,771.0 | $ | (41.2 | ) | $ | 3,405.9 | ||||||||||||||||
Short-term borrowings and current maturities of long-term debt | — | — | — | — | 350.4 | — | 10.8 | — | 361.2 | ||||||||||||||||||||||||||
Intercompany payables | 5,529.9 | — | 4,016.6 | 1,062.5 | 8,504.7 | 668.6 | 101.6 | (19,883.9 | ) | — | |||||||||||||||||||||||||
Total current liabilities | 5,536.8 | — | 4,016.8 | 1,128.3 | 9,451.2 | 675.7 | 2,883.4 | (19,925.1 | ) | 3,767.1 | |||||||||||||||||||||||||
Long-term debt | — | — | — | 2,285.5 | 334.2 | 1,087.7 | 17.4 | — | 3,724.8 | ||||||||||||||||||||||||||
Other noncurrent liabilities | — | — | — | 8.6 | 1,329.8 | — | 2,818.3 | (696.1 | ) | 3,460.6 | |||||||||||||||||||||||||
Intercompany notes payable | — | — | 18,048.4 | 1,817.2 | 2,034.6 | — | — | (21,900.2 | ) | — | |||||||||||||||||||||||||
Total liabilities | 5,536.8 | — | 22,065.2 | 5,239.6 | 13,149.8 | 1,763.4 | 5,719.1 | (42,521.4 | ) | 10,952.5 | |||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||||||||
Total equity | 6,414.4 | 19,173.6 | (7,407.9 | ) | 2,341.5 | 6,854.2 | (84.3 | ) | 29,997.7 | (50,811.2 | ) | 6,478.0 | |||||||||||||||||||||||
Total liabilities and equity | $ | 11,951.2 | $ | 19,173.6 | $ | 14,657.3 | $ | 7,581.1 | $ | 20,004.0 | $ | 1,679.1 | $ | 35,716.8 | $ | (93,332.6 | ) | $ | 17,430.5 |
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 | $ | — | $ | — | $ | — | $ | 11.4 | $ | — | $ | 0.1 | $ | 725.3 | $ | — | $ | 736.8 | |||||||||||||||||
Accounts and notes receivable, net | — | — | — | — | 160.7 | — | 1,989.9 | — | 2,150.6 | ||||||||||||||||||||||||||
Inventories, net | — | — | — | — | 192.0 | — | 1,218.7 | — | 1,410.7 | ||||||||||||||||||||||||||
Other current assets | 0.1 | — | — | 6.4 | 83.3 | — | 237.5 | (16.0 | ) | 311.3 | |||||||||||||||||||||||||
Intercompany receivables | 136.8 | — | 3.3 | 102.2 | 1,413.4 | — | 35,404.3 | (37,060.0 | ) | — | |||||||||||||||||||||||||
Total current assets | 136.9 | — | 3.3 | 120.0 | 1,849.4 | 0.1 | 39,575.7 | (37,076.0 | ) | 4,609.4 | |||||||||||||||||||||||||
Property, plant and equipment, net | — | — | — | — | 463.0 | — | 1,112.1 | — | 1,575.1 | ||||||||||||||||||||||||||
Goodwill and other intangible assets, net | — | — | — | — | 411.6 | — | 9,244.7 | — | 9,656.3 | ||||||||||||||||||||||||||
Other noncurrent assets | 0.2 | — | — | 283.8 | 733.4 | — | 568.4 | (709.0 | ) | 876.8 | |||||||||||||||||||||||||
Investments in consolidated subsidiaries | 10,139.0 | 20,387.2 | 13,419.7 | 6,438.1 | 13,925.1 | 1,583.2 | — | (65,892.3 | ) | — | |||||||||||||||||||||||||
Intercompany notes receivable | — | — | — | — | — | — | 2,876.7 | (2,876.7 | ) | — | |||||||||||||||||||||||||
Total assets | $ | 10,276.1 | $ | 20,387.2 | $ | 13,423.0 | $ | 6,841.9 | $ | 17,382.5 | $ | 1,583.3 | $ | 53,377.6 | $ | (106,554.0 | ) | $ | 16,717.6 | ||||||||||||||||
LIABILITIES AND EQUITY | |||||||||||||||||||||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||||||||
Accounts payable and accrued expenses | 7.1 | — | 0.1 | 30.7 | 597.6 | 6.3 | 2,518.3 | (15.9 | ) | 3,144.2 | |||||||||||||||||||||||||
Short-term borrowings and current maturities of long-term debt | — | — | — | — | 350.4 | 143.0 | 10.8 | — | 504.2 | ||||||||||||||||||||||||||
Intercompany payables | 4,452.3 | 143.6 | 23,529.0 | 1,997.8 | 5,858.1 | 745.5 | 334.0 | (37,060.3 | ) | — | |||||||||||||||||||||||||
Total current liabilities | 4,459.4 | 143.6 | 23,529.1 | 2,028.5 | 6,806.1 | 894.8 | 2,863.1 | (37,076.2 | ) | 3,648.4 | |||||||||||||||||||||||||
Long-term debt | — | — | — | 2,284.4 | 341.6 | 1,086.9 | 0.7 | — | 3,713.6 | ||||||||||||||||||||||||||
Other noncurrent liabilities | — | — | — | 8.3 | 1,367.9 | — | 2,809.1 | (708.9 | ) | 3,476.4 | |||||||||||||||||||||||||
Intercompany notes payable | — | — | — | 429.0 | 2,447.7 | — | — | (2,876.7 | ) | — | |||||||||||||||||||||||||
Total liabilities | 4,459.4 | 143.6 | 23,529.1 | 4,750.2 | 10,963.3 | 1,981.7 | 5,672.9 | (40,661.8 | ) | 10,838.4 | |||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||||||||
Total equity | 5,816.7 | 20,243.6 | (10,106.1 | ) | 2,091.7 | 6,419.2 | (398.4 | ) | 47,704.7 | (65,892.2 | ) | 5,879.2 | |||||||||||||||||||||||
Total liabilities and equity | $ | 10,276.1 | $ | 20,387.2 | $ | 13,423.0 | $ | 6,841.9 | $ | 17,382.5 | $ | 1,583.3 | $ | 53,377.6 | $ | (106,554.0 | ) | $ | 16,717.6 |
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 | $ | (40.4 | ) | $ | — | $ | (11.4 | ) | $ | (134.7 | ) | $ | 247.5 | $ | (20.8 | ) | $ | 354.3 | $ | — | $ | 394.5 | |||||||||||||
Net cash provided by (used in) discontinued operating activities | — | — | — | — | 18.7 | — | 6.5 | — | 25.2 | ||||||||||||||||||||||||||
Net cash provided by (used in) operating activities | (40.4 | ) | — | (11.4 | ) | (134.7 | ) | 266.2 | (20.8 | ) | 360.8 | — | 419.7 | ||||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||||||||||||||||||||||
Capital expenditures | — | — | — | — | (39.0 | ) | — | (44.0 | ) | — | (83.0 | ) | |||||||||||||||||||||||
Acquisition of businesses, net of cash acquired | — | — | — | — | (9.2 | ) | — | — | — | (9.2 | ) | ||||||||||||||||||||||||
Proceeds from sale of property, plant and equipment | — | — | — | — | — | — | 2.4 | — | 2.4 | ||||||||||||||||||||||||||
Proceeds from sale of Hussmann equity investment | — | — | — | — | — | — | 422.5 | — | 422.5 | ||||||||||||||||||||||||||
Intercompany investing activities, net | (160.0 | ) | (19,535.7 | ) | (3.5 | ) | (314.8 | ) | 65.7 | 243.7 | (919.3 | ) | 20,623.9 | — | |||||||||||||||||||||
Net cash provided by (used in) investing activities | (160.0 | ) | (19,535.7 | ) | (3.5 | ) | (314.8 | ) | 17.5 | 243.7 | (538.4 | ) | 20,623.9 | 332.7 | |||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||||||||||||||||
Net proceeds (repayments) in debt | — | — | — | — | (7.6 | ) | (143.0 | ) | — | — | (150.6 | ) | |||||||||||||||||||||||
Debt issuance costs | — | — | — | (2.1 | ) | — | — | — | — | (2.1 | ) | ||||||||||||||||||||||||
Dividends paid to ordinary shareholders | (162.5 | ) | — | — | — | — | — | — | — | (162.5 | ) | ||||||||||||||||||||||||
Dividends paid to noncontrolling interests | — | — | — | — | — | — | (6.7 | ) | — | (6.7 | ) | ||||||||||||||||||||||||
Repurchase of ordinary shares | (250.1 | ) | — | — | — | — | — | — | — | (250.1 | ) | ||||||||||||||||||||||||
Other financing activities, net | 9.2 | — | — | — | — | — | — | — | 9.2 | ||||||||||||||||||||||||||
Intercompany financing activities, net | 603.8 | 19,535.7 | 14.9 | 440.2 | (59.6 | ) | (80.0 | ) | 168.9 | (20,623.9 | ) | — | |||||||||||||||||||||||
Net cash provided by (used in) financing activities | 200.4 | 19,535.7 | 14.9 | 438.1 | (67.2 | ) | (223.0 | ) | 162.2 | (20,623.9 | ) | (562.8 | ) | ||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | — | — | — | 2.4 | — | 2.4 | ||||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | — | — | (11.4 | ) | 216.5 | (0.1 | ) | (13.0 | ) | — | 192.0 | |||||||||||||||||||||||
Cash and cash equivalents - beginning of period | — | — | — | 11.4 | — | 0.1 | 725.3 | — | 736.8 | ||||||||||||||||||||||||||
Cash and cash equivalents - end of period | $ | — | $ | — | $ | — | $ | — | $ | 216.5 | $ | — | $ | 712.3 | $ | — | $ | 928.8 |
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 | $ | (37.0 | ) | $ | (1.2 | ) | $ | (10.7 | ) | $ | (61.3 | ) | $ | (984.1 | ) | $ | (14.8 | ) | $ | 1,292.8 | $ | — | $ | 183.7 | |||||||||||
Net cash provided by (used in) discontinued operating activities | — | — | — | — | (13.5 | ) | — | (0.2 | ) | — | $ | (13.7 | ) | ||||||||||||||||||||||
Net cash provided by (used in) operating activities | (37.0 | ) | (1.2 | ) | (10.7 | ) | (61.3 | ) | (997.6 | ) | (14.8 | ) | 1,292.6 | — | 170.0 | ||||||||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||||||||||||||||||||||||||||||
Capital expenditures | — | — | — | — | (58.2 | ) | — | (57.1 | ) | — | (115.3 | ) | |||||||||||||||||||||||
Acquisition of businesses, net of cash acquired | — | — | — | — | (448.1 | ) | — | (493.6 | ) | — | (941.7 | ) | |||||||||||||||||||||||
Proceeds from sale of property, plant and equipment | — | — | — | — | — | — | 5.7 | — | 5.7 | ||||||||||||||||||||||||||
Intercompany investing activities, net | — | 1.2 | 73.3 | 228.2 | 54.8 | (228.0 | ) | (1,002.1 | ) | 872.6 | — | ||||||||||||||||||||||||
Net cash provided by (used in) investing activities | — | 1.2 | 73.3 | 228.2 | (451.5 | ) | (228.0 | ) | (1,547.1 | ) | 872.6 | (1,051.3 | ) | ||||||||||||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES: | |||||||||||||||||||||||||||||||||||
Net proceeds (repayments) in debt | — | — | — | — | (7.5 | ) | 184.7 | (16.2 | ) | — | 161.0 | ||||||||||||||||||||||||
Dividends paid to ordinary shareholders | (151.3 | ) | — | — | — | — | — | — | — | (151.3 | ) | ||||||||||||||||||||||||
Dividends paid to noncontrolling interests | — | — | — | — | — | — | (5.2 | ) | — | (5.2 | ) | ||||||||||||||||||||||||
Other financing activities, net | 45.3 | — | — | — | — | — | — | — | 45.3 | ||||||||||||||||||||||||||
Intercompany financing activities, net | 143.0 | — | (63.7 | ) | (166.9 | ) | 1,031.2 | 58.5 | (129.5 | ) | (872.6 | ) | — | ||||||||||||||||||||||
Net cash provided by (used in) financing activities | 37.0 | — | (63.7 | ) | (166.9 | ) | 1,023.7 | 243.2 | (150.9 | ) | (872.6 | ) | 49.8 | ||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | — | — | — | (94.1 | ) | — | (94.1 | ) | ||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | — | (1.1 | ) | — | (425.4 | ) | 0.4 | (499.5 | ) | — | (925.6 | ) | ||||||||||||||||||||||
Cash and cash equivalents - beginning of period | — | — | 1.1 | — | 425.4 | — | 1,278.7 | — | 1,705.2 | ||||||||||||||||||||||||||
Cash and cash equivalents - end of period | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 0.4 | $ | 779.2 | $ | — | $ | 779.6 |
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