|
|
|
|
|
|
|
In millions | September 30, 2011 | December 31, 2010 | |||||
Raw materials | $ | 424.7 | $ | 357.3 | |||
Work-in-process | 222.8 | 215.3 | |||||
Finished goods | 960.3 | 802.3 | |||||
1,607.8 | 1,374.9 | ||||||
LIFO reserve | (94.9 | ) | (85.9 | ) | |||
Total | $ | 1,512.9 | $ | 1,289.0 |
|
In millions | Climate Solutions | Residential Solutions | Industrial Technologies | Security Technologies | Total | ||||||||||||||
Beginning balance (gross) | $ | 5,381.8 | $ | 2,326.4 | $ | 368.1 | $ | 916.5 | $ | 8,992.8 | |||||||||
Acquisitions and adjustments * | (8.7 | ) | (5.7 | ) | (0.3 | ) | 0.3 | (14.4 | ) | ||||||||||
Currency translation | 13.6 | — | 1.7 | 6.1 | 21.4 | ||||||||||||||
Ending balance (gross) | 5,386.7 | 2,320.7 | 369.5 | 922.9 | 8,999.8 | ||||||||||||||
Accumulated impairment ** | (839.8 | ) | (1,656.2 | ) | — | (344.0 | ) | (2,840.0 | ) | ||||||||||
Goodwill (net) | $ | 4,546.9 | $ | 664.5 | $ | 369.5 | $ | 578.9 | $ | 6,159.8 |
|
In millions | September 30, 2011 | December 31, 2010 | |||||
Completed technologies/patents | $ | 207.9 | $ | 199.4 | |||
Customer relationships | 1,974.2 | 1,967.2 | |||||
Trademarks (finite-lived) | 100.5 | 98.6 | |||||
Other | 71.0 | 178.2 | |||||
Total gross finite-lived intangible assets | 2,353.6 | 2,443.4 | |||||
Accumulated amortization | (578.3 | ) | (571.0 | ) | |||
Total net finite-lived intangible assets | 1,775.3 | 1,872.4 | |||||
Trademarks (indefinite-lived) | 2,611.0 | 2,611.0 | |||||
Total | $ | 4,386.3 | $ | 4,483.4 |
|
In millions | September 30, 2011 | December 31, 2010 | |||||
Debentures with put feature | $ | 343.6 | $ | 343.6 | |||
Exchangeable Senior Notes | 338.0 | 328.3 | |||||
Current maturities of long-term debt | 10.7 | 13.3 | |||||
Other short-term borrowings | 67.7 | 76.4 | |||||
Total | $ | 760.0 | $ | 761.6 |
In millions | September 30, 2011 | December 31, 2010 | |||||
6.000% Senior notes due 2013 | $ | 599.9 | $ | 599.9 | |||
9.500% Senior notes due 2014 | 655.0 | 655.0 | |||||
5.50% Senior notes due 2015 | 199.8 | 199.7 | |||||
4.75% Senior notes due 2015 | 299.5 | 299.4 | |||||
6.875% Senior notes due 2018 | 749.3 | 749.2 | |||||
9.00% Debentures due 2021 | 125.0 | 125.0 | |||||
7.20% Debentures due 2013-2025 | 97.5 | 105.0 | |||||
6.48% Debentures due 2025 | 149.7 | 149.7 | |||||
Other loans and notes | 5.3 | 39.4 | |||||
Total | $ | 2,881.0 | $ | 2,922.3 |
|
Asset derivatives | Liability derivatives | ||||||||||||||
In millions | September 30, 2011 | December 31, 2010 | September 30, 2011 | December 31, 2010 | |||||||||||
Derivatives designated as hedges: | |||||||||||||||
Currency derivatives | $ | 4.3 | $ | 1.9 | $ | 0.1 | $ | 1.7 | |||||||
Derivatives not designated as hedges: | |||||||||||||||
Currency derivatives | 4.9 | 19.6 | 43.6 | 0.9 | |||||||||||
Total derivatives | $ | 9.2 | $ | 21.5 | $ | 43.7 | $ | 2.6 |
Amount of gain (loss) deferred in AOCI | Location of gain (loss) reclassified from AOCI and recognized into earnings | Amount of gain (loss) reclassified from AOCI and recognized into earnings | |||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||||
Currency derivatives | $ | 5.7 | $ | (0.4 | ) | Other, net | $ | 0.2 | $ | 0.8 | |||||||
Interest rate locks | — | — | Interest expense | (0.8 | ) | (0.7 | ) | ||||||||||
Total | $ | 5.7 | $ | (0.4 | ) | $ | (0.6 | ) | $ | 0.1 |
Location of gain (loss) recognized in earnings | Amount of gain (loss) recognized in earnings | ||||||||
In millions | 2011 | 2010 | |||||||
Currency derivatives | Other, net | $ | (38.4 | ) | $ | 22.7 | |||
Total | $ | (38.4 | ) | $ | 22.7 |
Amount of gain (loss) deferred in AOCI | Location of gain (loss) reclassified from AOCI and recognized into earnings | Amount of gain (loss) reclassified from AOCI and recognized into earnings | |||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||||
Currency derivatives | $ | 2.9 | $ | 2.3 | Other, net | $ | (1.1 | ) | $ | (0.8 | ) | ||||||
Interest rate locks | — | — | Interest expense | (2.2 | ) | (2.1 | ) | ||||||||||
Total | $ | 2.9 | $ | 2.3 | $ | (3.3 | ) | $ | (2.9 | ) |
Location of gain (loss) recognized in earnings | Amount of gain (loss) recognized in earnings | ||||||||
In millions | 2011 | 2010 | |||||||
Currency derivatives | Other, net | $ | (18.0 | ) | $ | 34.0 | |||
Total | $ | (18.0 | ) | $ | 34.0 |
|
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Service cost | $ | 23.1 | $ | 14.1 | $ | 71.4 | $ | 65.4 | |||||||
Interest cost | 46.3 | 48.3 | 141.8 | 145.6 | |||||||||||
Expected return on plan assets | (55.8 | ) | (49.0 | ) | (167.8 | ) | (147.1 | ) | |||||||
Net amortization of: | |||||||||||||||
Prior service costs | 1.5 | 2.2 | 4.3 | 6.2 | |||||||||||
Plan net actuarial losses | 12.0 | 13.5 | 39.4 | 41.5 | |||||||||||
Net periodic pension benefit cost | 27.1 | 29.1 | 89.1 | 111.6 | |||||||||||
Net curtailment and settlement (gains) losses | 1.6 | (0.2 | ) | 7.4 | 6.0 | ||||||||||
Net periodic pension benefit cost after net curtailment and settlement (gains) losses | $ | 28.7 | $ | 28.9 | $ | 96.5 | $ | 117.6 | |||||||
Amounts recorded in continuing operations | $ | 28.1 | $ | 27.5 | $ | 95.5 | $ | 112.6 | |||||||
Amounts recorded in discontinued operations | 0.6 | 1.4 | 1.0 | 5.0 | |||||||||||
Total | $ | 28.7 | $ | 28.9 | $ | 96.5 | $ | 117.6 |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Service cost | $ | 2.2 | $ | 1.8 | $ | 6.4 | $ | 6.7 | |||||||
Interest cost | 10.6 | 10.1 | 31.8 | 35.9 | |||||||||||
Net amortization of: | |||||||||||||||
Prior service gains | (0.9 | ) | (0.7 | ) | (2.6 | ) | (2.5 | ) | |||||||
Net actuarial losses | 0.7 | — | 2.2 | 8.3 | |||||||||||
Net periodic postretirement benefit cost | $ | 12.6 | $ | 11.2 | $ | 37.8 | $ | 48.4 | |||||||
Amounts recorded in continuing operations | $ | 8.5 | $ | 7.3 | $ | 25.3 | $ | 29.5 | |||||||
Amounts recorded in discontinued operations | 4.1 | 3.9 | 12.5 | 18.9 | |||||||||||
Total | $ | 12.6 | $ | 11.2 | $ | 37.8 | $ | 48.4 |
|
• | Level 1 – Inputs based on quoted prices in active markets for identical assets or liabilities. |
• | Level 2 – Inputs other than Level 1 quoted prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the asset or liability. |
• | Level 3 – Unobservable inputs based on little or no market activity and that are significant to the fair value of the assets and liabilities. |
Fair value measurements | Total fair value | ||||||||||||||
In millions | Level 1 | Level 2 | Level 3 | ||||||||||||
Assets: | |||||||||||||||
Cash and cash equivalents | $ | 1,403.8 | $ | — | $ | — | $ | 1,403.8 | |||||||
Marketable securities | 10.6 | — | — | 10.6 | |||||||||||
Derivative instruments | — | 9.2 | — | 9.2 | |||||||||||
Benefit trust assets | 15.3 | 153.0 | — | 168.3 | |||||||||||
Total | $ | 1,429.7 | $ | 162.2 | $ | — | $ | 1,591.9 | |||||||
Liabilities: | |||||||||||||||
Derivative instruments | $ | — | $ | 43.7 | $ | — | $ | 43.7 | |||||||
Benefit trust liabilities | 15.8 | 154.1 | — | 169.9 | |||||||||||
Total | $ | 15.8 | $ | 197.8 | $ | — | $ | 213.6 |
Fair value measurements | Total fair value | ||||||||||||||
In millions | Level 1 | Level 2 | Level 3 | ||||||||||||
Assets: | |||||||||||||||
Cash and cash equivalents | $ | 1,014.3 | $ | — | $ | — | $ | 1,014.3 | |||||||
Marketable securities | 15.5 | — | — | 15.5 | |||||||||||
Derivative instruments | — | 21.5 | — | 21.5 | |||||||||||
Benefit trust assets | 17.3 | 155.2 | — | 172.5 | |||||||||||
Total | $ | 1,047.1 | $ | 176.7 | $ | — | $ | 1,223.8 | |||||||
Liabilities: | |||||||||||||||
Derivative instruments | $ | — | $ | 2.6 | $ | — | $ | 2.6 | |||||||
Benefit trust liabilities | 17.4 | 178.4 | — | 195.8 | |||||||||||
Total | $ | 17.4 | $ | 181.0 | $ | — | $ | 198.4 |
• | Cash and cash equivalents – These amounts include cash on hand, demand deposits and all highly liquid investments with original maturities at the time of purchase of three months or less and are held in U.S and non-U.S. currencies. |
• | Marketable securities – These securities include investments in publicly traded stock of non-U.S. companies held by non-U.S. subsidiaries of the Company. The fair value is obtained for the securities based on observable market prices quoted on public stock exchanges. |
• | Derivative instruments – These instruments include forward contracts related to non-U.S. currencies. The fair value of the derivative instruments are determined based on a pricing model that uses inputs from actively quoted currency markets that are readily accessible and observable. |
• | Benefit trust assets – These assets include money market funds and insurance contracts that are the underlying for the benefit assets. The fair value of the assets is based on observable market prices quoted in a readily accessible and observable market. |
• | Benefit trust liabilities – These liabilities include deferred compensation and executive death benefits. The fair value is based on the underlying investment portfolio of the deferred compensation and the specific benefits guaranteed in a death benefit contract with each executive. |
|
In millions | Total | |
December 31, 2010 | 328.2 | |
Shares issued under incentive plans | 5.1 | |
Repurchase of ordinary shares | (17.3 | ) |
September 30, 2011 | 316.0 |
In millions | IR-Ireland shareholders’ equity | Noncontrolling interests | Total equity | ||||||||
Balance at December 31, 2010 | $ | 7,964.3 | $ | 94.8 | $ | 8,059.1 | |||||
Net earnings | 100.9 | 20.3 | 121.2 | ||||||||
Currency translation | (38.9 | ) | — | (38.9 | ) | ||||||
Change in value of marketable securities and derivatives qualifying as cash flow hedges, net of tax | 1.3 | — | 1.3 | ||||||||
Pension and OPEB adjustments, net of tax | 92.4 | — | 92.4 | ||||||||
Total comprehensive income | 155.7 | 20.3 | 176.0 | ||||||||
Share-based compensation | 31.0 | — | 31.0 | ||||||||
Acquisition/divestiture of noncontrolling interests | (1.3 | ) | (1.2 | ) | (2.5 | ) | |||||
Dividends to noncontrolling interests | — | (22.9 | ) | (22.9 | ) | ||||||
Dividends to ordinary shareholders | (101.5 | ) | — | (101.5 | ) | ||||||
Accretion of Exchangeable Senior Notes from Temporary equity | 10.0 | — | 10.0 | ||||||||
Shares issued under incentive plans | 107.4 | — | 107.4 | ||||||||
Repurchase of ordinary shares | (575.6 | ) | — | (575.6 | ) | ||||||
Other | (0.7 | ) | (1.6 | ) | (2.3 | ) | |||||
Balance at September 30, 2011 | $ | 7,589.3 | $ | 89.4 | $ | 7,678.7 |
In millions | IR-Ireland shareholders’ equity | Noncontrolling interests | Total equity | ||||||||
Balance at December 31, 2009 | $ | 7,071.8 | $ | 103.9 | $ | 7,175.7 | |||||
Net earnings | 430.1 | 15.5 | 445.6 | ||||||||
Currency translation | (13.1 | ) | — | (13.1 | ) | ||||||
Change in value of marketable securities and derivatives qualifying as cash flow hedges, net of tax | 4.8 | — | 4.8 | ||||||||
Pension and OPEB adjustments, net of tax | 48.9 | — | 48.9 | ||||||||
Total comprehensive income | 470.7 | 15.5 | 486.2 | ||||||||
Share-based compensation | 46.5 | — | 46.5 | ||||||||
Acquisition of noncontrolling interest | (5.0 | ) | (3.0 | ) | (8.0 | ) | |||||
Dividends to noncontrolling interests | — | (9.4 | ) | (9.4 | ) | ||||||
Dividends to ordinary shareholders | (67.7 | ) | — | (67.7 | ) | ||||||
Accretion of Exchangeable Senior Notes from Temporary equity | 10.0 | — | 10.0 | ||||||||
Shares issued under incentive plans | 47.5 | — | 47.5 | ||||||||
Other | — | (7.3 | ) | (7.3 | ) | ||||||
Balance at September 30, 2010 | $ | 7,573.8 | $ | 99.7 | $ | 7,673.5 |
|
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Climate Solutions | $ | 8.3 | $ | 8.0 | $ | 13.9 | $ | 20.2 | |||||||
Residential Solutions | 2.2 | 0.2 | 2.4 | 1.1 | |||||||||||
Industrial Technologies | 1.9 | 6.3 | 3.1 | * | 10.4 | ||||||||||
Security Technologies | 0.7 | (0.1 | ) | (0.4 | ) | ** | 2.4 | ||||||||
Corporate and Other | 0.3 | 0.6 | 0.3 | 0.5 | |||||||||||
Total | $ | 13.4 | $ | 15.0 | $ | 19.3 | $ | 34.6 | |||||||
Cost of goods sold | $ | 5.6 | $ | 8.8 | $ | 4.1 | $ | 23.5 | |||||||
Selling and administrative expenses | 7.8 | 6.2 | 15.2 | 11.1 | |||||||||||
Total | $ | 13.4 | $ | 15.0 | $ | 19.3 | $ | 34.6 |
In millions | Climate Solutions | Residential Solutions | Industrial Technologies | Security Technologies | Corporate and Other | Total | |||||||||||||||||
December 31, 2010 | $ | 3.2 | $ | 3.2 | $ | 10.1 | $ | 8.1 | $ | 3.4 | $ | 28.0 | |||||||||||
Additions, net of reversals | 13.9 | 2.4 | 3.1 | * | (0.4 | ) | ** | 0.3 | 19.3 | ||||||||||||||
Cash and non-cash uses | (11.5 | ) | (3.7 | ) | (7.7 | ) | (6.3 | ) | (0.6 | ) | (29.8 | ) | |||||||||||
Currency translation | — | — | — | 0.2 | — | 0.2 | |||||||||||||||||
September 30, 2011 | $ | 5.6 | $ | 1.9 | $ | 5.5 | $ | 1.6 | $ | 3.1 | $ | 17.7 |
|
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Interest income | $ | 8.0 | $ | 2.8 | $ | 19.8 | $ | 10.4 | |||||||
Exchange gain (loss) | 11.2 | 2.3 | 3.6 | 1.7 | |||||||||||
Other | 2.1 | 3.6 | 5.2 | 10.2 | |||||||||||
Other, net | $ | 21.3 | $ | 8.7 | $ | 28.6 | $ | 22.3 |
|
|
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Net revenues | $ | 281.8 | $ | 319.4 | $ | 781.7 | $ | 839.1 | |||||||
Loss on sale/asset impairment | (264.8 | ) | * | — | (651.6 | ) | * | — | |||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | (157.9 | ) | 26.8 | (528.3 | ) | 49.8 | |||||||||
Diluted earnings (loss) per share attributable to Ingersoll-Rand plc ordinary shareholders: | (0.46 | ) | 0.08 | (1.52 | ) | 0.15 |
In millions | September 30, 2011 | December 31, 2010 | |||||
Assets | |||||||
Current assets | $ | 66.6 | $ | 225.0 | |||
Property, plant and equipment, net | 0.3 | 107.4 | |||||
Goodwill | — | 407.4 | |||||
Intangible assets, net | — | 389.5 | |||||
Other assets and deferred income taxes | 0.1 | 5.5 | |||||
Assets held for sale before asset impairment | $ | 67.0 | $ | 1,134.8 | |||
Asset impairment | (23.0 | ) | — | ||||
Assets held for sale | $ | 44.0 | $ | 1,134.8 | |||
Liabilities | |||||||
Current liabilities | $ | 43.6 | $ | 106.1 | |||
Noncurrent liabilities | 0.4 | 61.0 | |||||
Liabilities held for sale | $ | 44.0 | $ | 167.1 |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Net revenues | $ | — | $ | 24.2 | $ | — | $ | 62.4 | |||||||
Pre-tax earnings (loss) from operations | $ | (12.9 | ) | $ | (49.2 | ) | $ | (37.2 | ) | $ | (133.9 | ) | |||
Pre-tax gain (loss) on sale | (7.2 | ) | (0.3 | ) | (40.8 | ) | (0.7 | ) | |||||||
Tax benefit (expense) | 11.5 | 10.0 | 29.9 | 16.9 | |||||||||||
Discontinued operations, net of tax | $ | (8.6 | ) | $ | (39.5 | ) | $ | (48.1 | ) | $ | (117.7 | ) |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Energy Systems, net of tax | $ | (0.5 | ) | $ | (9.5 | ) | $ | — | $ | (12.5 | ) | ||||
KOXKA, net of tax | (0.3 | ) | (19.5 | ) | (1.0 | ) | (68.9 | ) | |||||||
Other discontinued operations, net of tax | (7.8 | ) | (10.5 | ) | (47.1 | ) | (36.3 | ) | |||||||
Discontinued operations, net of tax | $ | (8.6 | ) | $ | (39.5 | ) | $ | (48.1 | ) | $ | (117.7 | ) |
Three months ended | Nine months ended | |||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | ||||||||||||
Net revenues | $ | — | $ | 3.9 | $ | — | $ | 5.7 | ||||||||
After-tax earnings (loss) from operations | $ | (0.3 | ) | $ | (9.5 | ) | * | $ | — | $ | (12.5 | ) | * | |||
Gain (loss) on sale, net of tax | (0.2 | ) | — | — | — | |||||||||||
Discontinued operations, net of tax | $ | (0.5 | ) | $ | (9.5 | ) | $ | — | $ | (12.5 | ) |
Three months ended | Nine months ended | |||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | ||||||||||||
Net revenues | $ | — | $ | 20.3 | $ | — | $ | 56.7 | ||||||||
After-tax earnings (loss) from operations | $ | (0.3 | ) | $ | (19.5 | ) | * | $ | (1.0 | ) | $ | (68.9 | ) | * | ||
Gain (loss) on sale, net of tax | — | — | — | — | ||||||||||||
Discontinued operations, net of tax | $ | (0.3 | ) | $ | (19.5 | ) | $ | (1.0 | ) | $ | (68.9 | ) |
|
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Net revenues | $ | 281.8 | $ | 319.4 | $ | 781.7 | $ | 839.1 | |||||||
Segment operating income | $ | 30.1 | $ | 37.3 | $ | 56.1 | $ | 72.7 |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Net revenues | |||||||||||||||
Climate Solutions | $ | 2,289.7 | $ | 2,120.8 | $ | 6,380.0 | $ | 5,739.6 | |||||||
Residential Solutions | 504.4 | 575.4 | 1,569.8 | 1,611.4 | |||||||||||
Industrial Technologies | 696.5 | 624.3 | 2,108.9 | 1,793.2 | |||||||||||
Security Technologies | 437.9 | 409.8 | 1,269.5 | 1,223.2 | |||||||||||
Total | $ | 3,928.5 | $ | 3,730.3 | $ | 11,328.2 | $ | 10,367.4 | |||||||
Segment operating income | |||||||||||||||
Climate Solutions | $ | 264.3 | * | $ | 219.8 | $ | 631.7 | * | $ | 451.6 | |||||
Residential Solutions | 19.0 | 57.8 | 67.2 | 143.2 | |||||||||||
Industrial Technologies | 95.9 | 79.4 | 301.6 | 219.8 | |||||||||||
Security Technologies | 88.4 | 90.5 | 250.0 | 243.7 | |||||||||||
Total | $ | 467.6 | $ | 447.5 | $ | 1,250.5 | $ | 1,058.3 | |||||||
Reconciliation to Operating income | |||||||||||||||
Loss on sale/asset impairment | (264.8 | ) | * | — | (651.6 | ) | * | — | |||||||
Unallocated corporate expense | (23.1 | ) | (36.8 | ) | (80.1 | ) | (115.6 | ) | |||||||
Operating income | $ | 179.7 | $ | 410.7 | $ | 518.8 | $ | 942.7 |
|
• | 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 against it and the historical ratio between the numbers of non-malignancy and 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; |
• | 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; |
• | 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 | September 30, 2011 | December 31, 2010 | |||||
Accrued expenses and other current liabilities | $ | 75.5 | $ | 75.5 | |||
Other noncurrent liabilities | 877.9 | 945.0 | |||||
Total asbestos-related liabilities | $ | 953.4 | $ | 1,020.5 | |||
Other current assets | $ | 28.8 | $ | 26.3 | |||
Other noncurrent assets | 290.5 | 319.9 | |||||
Total asset for probable asbestos-related insurance recoveries | $ | 319.3 | $ | 346.2 |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Continuing operations | $ | 0.3 | $ | 0.4 | $ | (2.3 | ) | $ | (2.2 | ) | |||||
Discontinued operations | (3.0 | ) | (1.7 | ) | (8.6 | ) | (10.5 | ) | |||||||
Total | $ | (2.7 | ) | $ | (1.3 | ) | $ | (10.9 | ) | $ | (12.7 | ) |
In millions | 2011 | 2010 | |||||
Balance at beginning of period | $ | 632.1 | $ | 620.2 | |||
Reductions for payments | (169.9 | ) | (202.6 | ) | |||
Accruals for warranties issued during the current period | 179.4 | 212.1 | |||||
Changes to accruals related to preexisting warranties | (0.6 | ) | (0.4 | ) | |||
Translation | 0.5 | (0.6 | ) | ||||
Balance at end of period | $ | 641.5 | $ | 628.7 |
|
In millions | IR Ireland | IR Limited | IR International | IR Global Holding | IR New Jersey | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | |||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 221.5 | $ | 3,707.0 | $ | — | $ | 3,928.5 | |||||||||||||||
Cost of goods sold | — | — | — | — | (151.6 | ) | (2,620.2 | ) | — | (2,771.8 | ) | ||||||||||||||||||||
Selling and administrative expenses | (2.0 | ) | — | — | (0.1 | ) | (72.2 | ) | (637.9 | ) | — | (712.2 | ) | ||||||||||||||||||
Loss on sale/asset impairment | — | — | — | — | 3.1 | (267.9 | ) | — | (264.8 | ) | |||||||||||||||||||||
Operating income (loss) | (2.0 | ) | — | — | (0.1 | ) | 0.8 | 181.0 | — | 179.7 | |||||||||||||||||||||
Equity earnings in affiliates, net of tax | 88.4 | 427.7 | 373.7 | 69.3 | 28.3 | 318.7 | (1,306.1 | ) | — | ||||||||||||||||||||||
Interest expense | — | — | (4.0 | ) | (48.3 | ) | (12.8 | ) | (4.6 | ) | — | (69.7 | ) | ||||||||||||||||||
Intercompany interest and fees | (0.6 | ) | — | (32.4 | ) | 13.8 | (29.5 | ) | 48.7 | — | — | ||||||||||||||||||||
Other, net | — | — | 0.4 | 339.8 | 2.7 | 25.4 | (347.0 | ) | 21.3 | ||||||||||||||||||||||
Earnings (loss) before income taxes | 85.8 | 427.7 | 337.7 | 374.5 | (10.5 | ) | 569.2 | (1,653.1 | ) | 131.3 | |||||||||||||||||||||
Benefit (provision) for income taxes | 0.4 | — | — | — | (8.0 | ) | (21.6 | ) | — | (29.2 | ) | ||||||||||||||||||||
Continuing operations | 86.2 | 427.7 | 337.7 | 374.5 | (18.5 | ) | 547.6 | (1,653.1 | ) | 102.1 | |||||||||||||||||||||
Discontinued operations, net of tax | — | — | — | — | (0.7 | ) | (7.9 | ) | — | (8.6 | ) | ||||||||||||||||||||
Net earnings (loss) | 86.2 | 427.7 | 337.7 | 374.5 | (19.2 | ) | 539.7 | (1,653.1 | ) | 93.5 | |||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | (15.1 | ) | 7.8 | (7.3 | ) | |||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 86.2 | $ | 427.7 | $ | 337.7 | $ | 374.5 | $ | (19.2 | ) | $ | 524.6 | $ | (1,645.3 | ) | $ | 86.2 |
In millions | IR Ireland | IR Limited | IR International | IR Global Holding | IR New Jersey | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | |||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 633.3 | $ | 10,694.9 | $ | — | $ | 11,328.2 | |||||||||||||||
Cost of goods sold | — | — | — | — | (421.9 | ) | (7,610.7 | ) | — | (8,032.6 | ) | ||||||||||||||||||||
Selling and administrative expenses | (6.6 | ) | — | — | (0.4 | ) | (201.8 | ) | (1,916.4 | ) | — | (2,125.2 | ) | ||||||||||||||||||
Loss on sale/asset impairment | — | — | — | — | — | (651.6 | ) | — | (651.6 | ) | |||||||||||||||||||||
Operating income (loss) | (6.6 | ) | — | — | (0.4 | ) | 9.6 | 516.2 | — | 518.8 | |||||||||||||||||||||
Equity earnings in affiliates, net of tax | 106.9 | 416.6 | 532.3 | 329.4 | 125.2 | 452.3 | (1,962.7 | ) | — | ||||||||||||||||||||||
Interest expense | — | — | (11.8 | ) | (144.8 | ) | (38.2 | ) | (14.9 | ) | — | (209.7 | ) | ||||||||||||||||||
Intercompany interest and fees | (0.7 | ) | — | (95.7 | ) | 39.6 | (91.0 | ) | 147.8 | — | — | ||||||||||||||||||||
Other, net | 0.4 | (0.1 | ) | 1.4 | 310.3 | 33.7 | 14.4 | (331.5 | ) | 28.6 | |||||||||||||||||||||
Earnings (loss) before income taxes | 100.0 | 416.5 | 426.2 | 534.1 | 39.3 | 1,115.8 | (2,294.2 | ) | 337.7 | ||||||||||||||||||||||
Benefit (provision) for income taxes | 0.9 | — | — | — | 3.3 | (172.6 | ) | — | (168.4 | ) | |||||||||||||||||||||
Continuing operations | 100.9 | 416.5 | 426.2 | 534.1 | 42.6 | 943.2 | (2,294.2 | ) | 169.3 | ||||||||||||||||||||||
Discontinued operations, net of tax | — | — | — | — | (16.6 | ) | (31.5 | ) | — | (48.1 | ) | ||||||||||||||||||||
Net earnings (loss) | 100.9 | 416.5 | 426.2 | 534.1 | 26.0 | 911.7 | (2,294.2 | ) | 121.2 | ||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | (42.5 | ) | 22.2 | (20.3 | ) | |||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 100.9 | $ | 416.5 | $ | 426.2 | $ | 534.1 | $ | 26.0 | $ | 869.2 | $ | (2,272.0 | ) | $ | 100.9 |
In millions | IR Ireland | IR Limited | IR International | IR Global Holding | IR New Jersey | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | |||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 200.1 | $ | 3,530.2 | $ | — | $ | 3,730.3 | |||||||||||||||
Cost of goods sold | — | — | — | — | (151.5 | ) | (2,492.3 | ) | — | (2,643.8 | ) | ||||||||||||||||||||
Selling and administrative expenses | (1.9 | ) | — | — | (0.1 | ) | (46.3 | ) | (627.5 | ) | — | (675.8 | ) | ||||||||||||||||||
Operating income (loss) | (1.9 | ) | — | — | (0.1 | ) | 2.3 | 410.4 | — | 410.7 | |||||||||||||||||||||
Equity earnings in affiliates, net of tax | 233.6 | 240.3 | 267.2 | 321.7 | 20.9 | 234.9 | (1,318.6 | ) | — | ||||||||||||||||||||||
Interest expense | — | — | (3.9 | ) | (48.9 | ) | (12.7 | ) | (4.7 | ) | — | (70.2 | ) | ||||||||||||||||||
Intercompany interest and fees | — | — | (35.3 | ) | (10.4 | ) | (31.3 | ) | 77.0 | — | — | ||||||||||||||||||||
Other, net | 0.2 | (0.2 | ) | — | 6.3 | 3.7 | 32.8 | (34.1 | ) | 8.7 | |||||||||||||||||||||
Earnings (loss) before income taxes | 231.9 | 240.1 | 228.0 | 268.6 | (17.1 | ) | 750.4 | (1,352.7 | ) | 349.2 | |||||||||||||||||||||
Benefit (provision) for income taxes | 0.2 | — | — | — | 0.9 | (73.2 | ) | — | (72.1 | ) | |||||||||||||||||||||
Continuing operations | 232.1 | 240.1 | 228.0 | 268.6 | (16.2 | ) | 677.2 | (1,352.7 | ) | 277.1 | |||||||||||||||||||||
Discontinued operations, net of tax | — | — | — | — | 23.0 | (62.5 | ) | — | (39.5 | ) | |||||||||||||||||||||
Net earnings (loss) | 232.1 | 240.1 | 228.0 | 268.6 | 6.8 | 614.7 | (1,352.7 | ) | 237.6 | ||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | (33.0 | ) | 27.6 | (5.4 | ) | |||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 232.1 | $ | 240.1 | $ | 228.0 | $ | 268.6 | $ | 6.8 | $ | 581.7 | $ | (1,325.1 | ) | $ | 232.2 |
In millions | IR Ireland | IR Limited | IR International | IR Global Holding | IR New Jersey | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | |||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 539.7 | $ | 9,827.7 | $ | — | $ | 10,367.4 | |||||||||||||||
Cost of goods sold | — | — | — | — | (413.2 | ) | (7,022.9 | ) | — | (7,436.1 | ) | ||||||||||||||||||||
Selling and administrative expenses | (6.6 | ) | — | — | (0.5 | ) | (146.6 | ) | (1,834.9 | ) | — | (1,988.6 | ) | ||||||||||||||||||
Operating income (loss) | (6.6 | ) | — | — | (0.5 | ) | (20.1 | ) | 969.9 | — | 942.7 | ||||||||||||||||||||
Equity earnings in affiliates, net of tax | 436.3 | 462.7 | 575.7 | 725.7 | 98.8 | 430.7 | (2,729.9 | ) | — | ||||||||||||||||||||||
Interest expense | — | — | (11.7 | ) | (146.0 | ) | (39.1 | ) | (15.5 | ) | — | (212.3 | ) | ||||||||||||||||||
Intercompany interest and fees | — | — | (101.9 | ) | (25.4 | ) | (97.9 | ) | 225.2 | — | — | ||||||||||||||||||||
Other, net | (0.6 | ) | 0.1 | 0.6 | 26.4 | 13.5 | 49.0 | (66.7 | ) | 22.3 | |||||||||||||||||||||
Earnings (loss) before income taxes | 429.1 | 462.8 | 462.7 | 580.2 | (44.8 | ) | 1,659.3 | (2,796.6 | ) | 752.7 | |||||||||||||||||||||
Benefit (provision) for income taxes | 0.9 | — | — | — | (5.2 | ) | (185.1 | ) | — | (189.4 | ) | ||||||||||||||||||||
Continuing operations | 430.0 | 462.8 | 462.7 | 580.2 | (50.0 | ) | 1,474.2 | (2,796.6 | ) | 563.3 | |||||||||||||||||||||
Discontinued operations, net of tax | — | — | — | — | 18.1 | (135.8 | ) | — | (117.7 | ) | |||||||||||||||||||||
Net earnings (loss) | 430.0 | 462.8 | 462.7 | 580.2 | (31.9 | ) | 1,338.4 | (2,796.6 | ) | 445.6 | |||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | (55.8 | ) | 40.3 | (15.5 | ) | |||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 430.0 | $ | 462.8 | $ | 462.7 | $ | 580.2 | $ | (31.9 | ) | $ | 1,282.6 | $ | (2,756.3 | ) | $ | 430.1 |
In millions | IR Ireland | IR Limited | IR International | IR Global Holding | IR New Jersey | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | |||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | — | $ | 174.0 | $ | 370.8 | $ | 859.0 | $ | — | $ | 1,403.8 | |||||||||||||||
Accounts and notes receivable, net | — | — | — | — | 166.5 | 2,199.6 | — | 2,366.1 | |||||||||||||||||||||||
Inventories | — | — | — | — | 72.6 | 1,440.3 | — | 1,512.9 | |||||||||||||||||||||||
Other current assets | 0.2 | — | 1.1 | — | 150.2 | 457.3 | — | 608.8 | |||||||||||||||||||||||
Assets held for sale | — | — | — | — | — | 44.5 | — | 44.5 | |||||||||||||||||||||||
Accounts and notes receivable affiliates | 145.6 | 3,029.2 | 17.0 | 3,755.7 | 13.9 | 13,794.0 | (20,755.4 | ) | — | ||||||||||||||||||||||
Total current assets | 145.8 | 3,029.2 | 18.1 | 3,929.7 | 774.0 | 18,794.7 | (20,755.4 | ) | 5,936.1 | ||||||||||||||||||||||
Investment in affiliates | 8,177.1 | 6,348.6 | 19,729.8 | 15,669.6 | 8,049.4 | 81,946.1 | (139,920.6 | ) | — | ||||||||||||||||||||||
Property, plant and equipment, net | 0.1 | — | — | 0.2 | 206.2 | 1,394.7 | — | 1,601.2 | |||||||||||||||||||||||
Intangible assets, net | — | — | — | — | 83.9 | 10,462.2 | — | 10,546.1 | |||||||||||||||||||||||
Other noncurrent assets | — | — | 0.7 | 14.7 | 825.7 | 577.9 | — | 1,419.0 | |||||||||||||||||||||||
Total assets | $ | 8,323.0 | $ | 9,377.8 | $ | 19,748.6 | $ | 19,614.2 | $ | 9,939.2 | $ | 113,175.6 | $ | (160,676.0 | ) | $ | 19,502.4 | ||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||||
Accounts payable and accruals | $ | 3.6 | $ | 0.3 | $ | 15.9 | $ | 48.4 | $ | 435.8 | $ | 3,025.3 | $ | — | $ | 3,529.3 | |||||||||||||||
Short-term borrowings and current maturities of long-term debt | — | — | — | 519.1 | 351.0 | 71.0 | (181.1 | ) | 760.0 | ||||||||||||||||||||||
Liabilities held for sale | — | — | — | — | — | 44.0 | — | 44.0 | |||||||||||||||||||||||
Accounts and note payable affiliates | 634.0 | 57.6 | 4,764.5 | 7,411.3 | 4,848.2 | 3,661.0 | (21,376.6 | ) | — | ||||||||||||||||||||||
Total current liabilities | 637.6 | 57.9 | 4,780.4 | 7,978.8 | 5,635.0 | 6,801.3 | (21,557.7 | ) | 4,333.3 | ||||||||||||||||||||||
Long-term debt | — | — | 299.5 | 2,004.2 | 373.5 | 203.8 | — | 2,881.0 | |||||||||||||||||||||||
Note payable affiliate | — | — | 10,789.4 | — | — | — | (10,789.4 | ) | — | ||||||||||||||||||||||
Other noncurrent liabilities | — | 4.0 | 3.8 | — | 1,690.5 | 2,904.4 | — | 4,602.7 | |||||||||||||||||||||||
Total liabilities | 637.6 | 61.9 | 15,873.1 | 9,983.0 | 7,699.0 | 9,909.5 | (32,347.1 | ) | 11,817.0 | ||||||||||||||||||||||
Temporary equity | 6.7 | — | — | — | — | — | — | 6.7 | |||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||||
Total equity | 7,678.7 | 9,315.9 | 3,875.5 | 9,631.2 | 2,240.2 | 103,266.1 | (128,328.9 | ) | 7,678.7 | ||||||||||||||||||||||
Total liabilities and equity | $ | 8,323.0 | $ | 9,377.8 | $ | 19,748.6 | $ | 19,614.2 | $ | 9,939.2 | $ | 113,175.6 | $ | (160,676.0 | ) | $ | 19,502.4 |
In millions | IR Ireland | IR Limited | IR International | IR Global Holding | IR New Jersey | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | |||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 0.4 | $ | — | $ | 12.0 | $ | 99.9 | $ | 135.5 | $ | 766.5 | $ | — | $ | 1,014.3 | |||||||||||||||
Accounts and notes receivable, net | 0.2 | 1.1 | — | — | 202.8 | 2,033.5 | — | 2,237.6 | |||||||||||||||||||||||
Inventories | — | — | — | — | 79.8 | 1,209.2 | — | 1,289.0 | |||||||||||||||||||||||
Other current assets | 0.1 | — | 4.0 | 0.4 | 203.9 | 395.3 | — | 603.7 | |||||||||||||||||||||||
Assets held for sale | — | — | — | — | 3.3 | 1,132.7 | — | 1,136.0 | |||||||||||||||||||||||
Accounts and notes receivable affiliates | 93.4 | 2,987.3 | 17.0 | 3,611.4 | 589.7 | 14,247.0 | (21,545.8 | ) | — | ||||||||||||||||||||||
Total current assets | 94.1 | 2,988.4 | 33.0 | 3,711.7 | 1,215.0 | 19,784.2 | (21,545.8 | ) | 6,280.6 | ||||||||||||||||||||||
Investment in affiliates | 7,992.3 | 5,877.9 | 19,131.2 | 15,278.0 | 8,769.2 | 77,272.1 | (134,320.7 | ) | — | ||||||||||||||||||||||
Property, plant and equipment, net | 0.1 | — | — | 0.2 | 210.2 | 1,458.5 | — | 1,669.0 | |||||||||||||||||||||||
Intangible assets, net | — | — | — | — | 84.2 | 10,552.0 | — | 10,636.2 | |||||||||||||||||||||||
Other noncurrent assets | — | — | 0.9 | 18.4 | 821.7 | 564.1 | — | 1,405.1 | |||||||||||||||||||||||
Total assets | $ | 8,086.5 | $ | 8,866.3 | $ | 19,165.1 | $ | 19,008.3 | $ | 11,100.3 | $ | 109,630.9 | $ | (155,866.5 | ) | $ | 19,990.9 | ||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||||
Accounts payable and accruals | $ | 3.6 | $ | — | $ | 1.8 | $ | 49.3 | $ | 443.1 | $ | 2,859.4 | $ | — | $ | 3,357.2 | |||||||||||||||
Short-term borrowings and current maturities of long-term debt | — | — | — | 857.6 | 351.0 | 82.3 | (529.3 | ) | 761.6 | ||||||||||||||||||||||
Liabilities held for sale | — | — | — | — | — | 167.1 | — | 167.1 | |||||||||||||||||||||||
Accounts and note payable affiliates | 7.1 | 10.4 | 4,688.4 | 7,107.8 | 5,065.9 | 5,309.5 | (22,189.1 | ) | — | ||||||||||||||||||||||
Total current liabilities | 10.7 | 10.4 | 4,690.2 | 8,014.7 | 5,860.0 | 8,418.3 | (22,718.4 | ) | 4,285.9 | ||||||||||||||||||||||
Long-term debt | — | — | 299.4 | 2,004.1 | 381.1 | 237.7 | — | 2,922.3 | |||||||||||||||||||||||
Note payable affiliate | — | — | 10,789.4 | — | — | — | (10,789.4 | ) | — | ||||||||||||||||||||||
Other noncurrent liabilities | — | 8.3 | 3.9 | — | 1,770.8 | 2,923.9 | — | 4,706.9 | |||||||||||||||||||||||
Total liabilities | 10.7 | 18.7 | 15,782.9 | 10,018.8 | 8,011.9 | 11,579.9 | (33,507.8 | ) | 11,915.1 | ||||||||||||||||||||||
Temporary equity | 16.7 | — | — | — | — | — | — | 16.7 | |||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||||
Total equity | 8,059.1 | 8,847.6 | 3,382.2 | 8,989.5 | 3,088.4 | 98,051.0 | (122,358.7 | ) | 8,059.1 | ||||||||||||||||||||||
Total liabilities and equity | $ | 8,086.5 | $ | 8,866.3 | $ | 19,165.1 | $ | 19,008.3 | $ | 11,100.3 | $ | 109,630.9 | $ | (155,866.5 | ) | $ | 19,990.9 |
In millions | IR Ireland | IR Limited | IR International | IR Global Holding | IR New Jersey | Other Subsidiaries | IR Ireland Consolidated | ||||||||||||||||||||
Net cash provided by (used in) continuing operating activities | $ | (6.2 | ) | $ | (0.1 | ) | $ | (10.4 | ) | $ | (144.3 | ) | $ | 24.2 | $ | 899.8 | $ | 763.0 | |||||||||
Net cash provided by (used in) discontinued operating activities | — | — | — | — | (16.6 | ) | (5.6 | ) | (22.2 | ) | |||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||||
Capital expenditures | — | — | — | — | (26.2 | ) | (102.9 | ) | (129.1 | ) | |||||||||||||||||
Acquisition of businesses, net of cash acquired | — | — | — | — | — | (1.8 | ) | (1.8 | ) | ||||||||||||||||||
Proceeds from sale of property, plant and equipment | — | — | — | — | 1.6 | 47.7 | 49.3 | ||||||||||||||||||||
Proceeds from business disposition, net of cash sold | — | — | — | — | — | 336.7 | 336.7 | ||||||||||||||||||||
Net cash provided by (used in) continuing investing activities | — | — | — | — | (24.6 | ) | 279.7 | 255.1 | |||||||||||||||||||
Net cash provided by (used in) discontinued investing activities | — | — | — | — | — | 44.4 | 44.4 | ||||||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||||
Net change in debt | — | — | — | (0.2 | ) | (7.6 | ) | (44.7 | ) | (52.5 | ) | ||||||||||||||||
Debt issuance costs | — | — | — | (2.4 | ) | — | — | (2.4 | ) | ||||||||||||||||||
Net inter-company proceeds (payments) | 576.0 | 0.1 | (1.6 | ) | 221.0 | 259.9 | (1,055.4 | ) | — | ||||||||||||||||||
Dividends (paid) received | (101.5 | ) | — | — | — | — | — | (101.5 | ) | ||||||||||||||||||
Dividends paid to noncontrolling interests | — | — | — | — | — | (22.9 | ) | (22.9 | ) | ||||||||||||||||||
Acquisition of noncontrolling interest | — | — | — | — | — | (1.3 | ) | (1.3 | ) | ||||||||||||||||||
Proceeds from shares issued under incentive plans | 107.4 | — | — | — | — | — | 107.4 | ||||||||||||||||||||
Repurchase of ordinary shares | (575.6 | ) | — | — | — | — | — | (575.6 | ) | ||||||||||||||||||
Other, net | (0.5 | ) | — | — | — | — | (1.0 | ) | (1.5 | ) | |||||||||||||||||
Net cash provided by (used in) continuing financing activities | 5.8 | 0.1 | (1.6 | ) | 218.4 | 252.3 | (1,125.3 | ) | (650.3 | ) | |||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | — | — | (0.5 | ) | (0.5 | ) | ||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | (0.4 | ) | — | (12.0 | ) | 74.1 | 235.3 | 92.5 | 389.5 | ||||||||||||||||||
Cash and cash equivalents - beginning of period | 0.4 | — | 12.0 | 99.9 | 135.5 | 766.5 | 1,014.3 | ||||||||||||||||||||
Cash and cash equivalents - end of period | $ | — | $ | — | $ | — | $ | 174.0 | $ | 370.8 | $ | 859.0 | $ | 1,403.8 |
In millions | IR Ireland | IR Limited | IR International | IR Global Holding | IR New Jersey | Other Subsidiaries | IR Ireland Consolidated | ||||||||||||||||||||
Net cash provided by (used in) continuing operating activities | $ | (7.2 | ) | $ | 0.1 | $ | (11.2 | ) | $ | (120.1 | ) | $ | (260.2 | ) | $ | 981.1 | $ | 582.5 | |||||||||
Net cash provided by (used in) discontinued operating activities | — | — | — | — | 18.1 | (83.7 | ) | (65.6 | ) | ||||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||||
Capital expenditures | — | — | — | (0.3 | ) | (23.3 | ) | (93.7 | ) | (117.3 | ) | ||||||||||||||||
Acquisition of businesses, net of cash acquired | — | — | — | — | — | (5.5 | ) | (5.5 | ) | ||||||||||||||||||
Proceeds from sale of property, plant and equipment | — | — | — | — | (0.8 | ) | 13.0 | 12.2 | |||||||||||||||||||
Proceeds from business disposition, net of cash sold | — | — | — | — | — | — | — | ||||||||||||||||||||
Net cash provided by (used in) continuing investing activities | — | — | — | (0.3 | ) | (24.1 | ) | (86.2 | ) | (110.6 | ) | ||||||||||||||||
Net cash provided by (used in) discontinued investing activities | — | — | — | — | — | 0.4 | 0.4 | ||||||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||||
Net change in debt | — | — | — | (249.9 | ) | (7.8 | ) | (189.9 | ) | (447.6 | ) | ||||||||||||||||
Debt issuance costs | — | — | — | (5.5 | ) | — | — | (5.5 | ) | ||||||||||||||||||
Net inter-company proceeds (payments) | 26.8 | (0.1 | ) | 11.2 | 331.3 | 169.0 | (538.2 | ) | — | ||||||||||||||||||
Dividends (paid) received | (67.7 | ) | — | — | — | — | — | (67.7 | ) | ||||||||||||||||||
Dividends paid to noncontrolling interests | — | — | — | — | — | (9.4 | ) | (9.4 | ) | ||||||||||||||||||
Acquisition of noncontrolling interest | — | — | — | — | — | (8.0 | ) | (8.0 | ) | ||||||||||||||||||
Proceeds from shares issued under incentive plans | 47.5 | — | — | — | — | — | 47.5 | ||||||||||||||||||||
Other, net | — | — | — | — | — | — | — | ||||||||||||||||||||
Net cash provided by (used in) continuing financing activities | 6.6 | (0.1 | ) | 11.2 | 75.9 | 161.2 | (745.5 | ) | (490.7 | ) | |||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | — | — | 18.0 | 18.0 | ||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | (0.6 | ) | — | — | (44.5 | ) | (105.0 | ) | 84.1 | (66.0 | ) | ||||||||||||||||
Cash and cash equivalents - beginning of period | 0.6 | — | — | 81.8 | 175.5 | 618.8 | 876.7 | ||||||||||||||||||||
Cash and cash equivalents - end of period | $ | — | $ | — | $ | — | $ | 37.3 | $ | 70.5 | $ | 702.9 | $ | 810.7 |
|
In millions | September 30, 2011 | December 31, 2010 | |||||
Raw materials | $ | 424.7 | $ | 357.3 | |||
Work-in-process | 222.8 | 215.3 | |||||
Finished goods | 960.3 | 802.3 | |||||
1,607.8 | 1,374.9 | ||||||
LIFO reserve | (94.9 | ) | (85.9 | ) | |||
Total | $ | 1,512.9 | $ | 1,289.0 |
|
In millions | Climate Solutions | Residential Solutions | Industrial Technologies | Security Technologies | Total | ||||||||||||||
Beginning balance (gross) | $ | 5,381.8 | $ | 2,326.4 | $ | 368.1 | $ | 916.5 | $ | 8,992.8 | |||||||||
Acquisitions and adjustments * | (8.7 | ) | (5.7 | ) | (0.3 | ) | 0.3 | (14.4 | ) | ||||||||||
Currency translation | 13.6 | — | 1.7 | 6.1 | 21.4 | ||||||||||||||
Ending balance (gross) | 5,386.7 | 2,320.7 | 369.5 | 922.9 | 8,999.8 | ||||||||||||||
Accumulated impairment ** | (839.8 | ) | (1,656.2 | ) | — | (344.0 | ) | (2,840.0 | ) | ||||||||||
Goodwill (net) | $ | 4,546.9 | $ | 664.5 | $ | 369.5 | $ | 578.9 | $ | 6,159.8 |
|
In millions | September 30, 2011 | December 31, 2010 | |||||
Completed technologies/patents | $ | 207.9 | $ | 199.4 | |||
Customer relationships | 1,974.2 | 1,967.2 | |||||
Trademarks (finite-lived) | 100.5 | 98.6 | |||||
Other | 71.0 | 178.2 | |||||
Total gross finite-lived intangible assets | 2,353.6 | 2,443.4 | |||||
Accumulated amortization | (578.3 | ) | (571.0 | ) | |||
Total net finite-lived intangible assets | 1,775.3 | 1,872.4 | |||||
Trademarks (indefinite-lived) | 2,611.0 | 2,611.0 | |||||
Total | $ | 4,386.3 | $ | 4,483.4 |
|
In millions | September 30, 2011 | December 31, 2010 | |||||
Debentures with put feature | $ | 343.6 | $ | 343.6 | |||
Exchangeable Senior Notes | 338.0 | 328.3 | |||||
Current maturities of long-term debt | 10.7 | 13.3 | |||||
Other short-term borrowings | 67.7 | 76.4 | |||||
Total | $ | 760.0 | $ | 761.6 |
In millions | September 30, 2011 | December 31, 2010 | |||||
6.000% Senior notes due 2013 | $ | 599.9 | $ | 599.9 | |||
9.500% Senior notes due 2014 | 655.0 | 655.0 | |||||
5.50% Senior notes due 2015 | 199.8 | 199.7 | |||||
4.75% Senior notes due 2015 | 299.5 | 299.4 | |||||
6.875% Senior notes due 2018 | 749.3 | 749.2 | |||||
9.00% Debentures due 2021 | 125.0 | 125.0 | |||||
7.20% Debentures due 2013-2025 | 97.5 | 105.0 | |||||
6.48% Debentures due 2025 | 149.7 | 149.7 | |||||
Other loans and notes | 5.3 | 39.4 | |||||
Total | $ | 2,881.0 | $ | 2,922.3 |
|
Asset derivatives | Liability derivatives | ||||||||||||||
In millions | September 30, 2011 | December 31, 2010 | September 30, 2011 | December 31, 2010 | |||||||||||
Derivatives designated as hedges: | |||||||||||||||
Currency derivatives | $ | 4.3 | $ | 1.9 | $ | 0.1 | $ | 1.7 | |||||||
Derivatives not designated as hedges: | |||||||||||||||
Currency derivatives | 4.9 | 19.6 | 43.6 | 0.9 | |||||||||||
Total derivatives | $ | 9.2 | $ | 21.5 | $ | 43.7 | $ | 2.6 |
Amount of gain (loss) deferred in AOCI | Location of gain (loss) reclassified from AOCI and recognized into earnings | Amount of gain (loss) reclassified from AOCI and recognized into earnings | |||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||||
Currency derivatives | $ | 5.7 | $ | (0.4 | ) | Other, net | $ | 0.2 | $ | 0.8 | |||||||
Interest rate locks | — | — | Interest expense | (0.8 | ) | (0.7 | ) | ||||||||||
Total | $ | 5.7 | $ | (0.4 | ) | $ | (0.6 | ) | $ | 0.1 |
Amount of gain (loss) deferred in AOCI | Location of gain (loss) reclassified from AOCI and recognized into earnings | Amount of gain (loss) reclassified from AOCI and recognized into earnings | |||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||||
Currency derivatives | $ | 2.9 | $ | 2.3 | Other, net | $ | (1.1 | ) | $ | (0.8 | ) | ||||||
Interest rate locks | — | — | Interest expense | (2.2 | ) | (2.1 | ) | ||||||||||
Total | $ | 2.9 | $ | 2.3 | $ | (3.3 | ) | $ | (2.9 | ) |
Location of gain (loss) recognized in earnings | Amount of gain (loss) recognized in earnings | ||||||||
In millions | 2011 | 2010 | |||||||
Currency derivatives | Other, net | $ | (38.4 | ) | $ | 22.7 | |||
Total | $ | (38.4 | ) | $ | 22.7 |
Location of gain (loss) recognized in earnings | Amount of gain (loss) recognized in earnings | ||||||||
In millions | 2011 | 2010 | |||||||
Currency derivatives | Other, net | $ | (18.0 | ) | $ | 34.0 | |||
Total | $ | (18.0 | ) | $ | 34.0 |
|
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Service cost | $ | 23.1 | $ | 14.1 | $ | 71.4 | $ | 65.4 | |||||||
Interest cost | 46.3 | 48.3 | 141.8 | 145.6 | |||||||||||
Expected return on plan assets | (55.8 | ) | (49.0 | ) | (167.8 | ) | (147.1 | ) | |||||||
Net amortization of: | |||||||||||||||
Prior service costs | 1.5 | 2.2 | 4.3 | 6.2 | |||||||||||
Plan net actuarial losses | 12.0 | 13.5 | 39.4 | 41.5 | |||||||||||
Net periodic pension benefit cost | 27.1 | 29.1 | 89.1 | 111.6 | |||||||||||
Net curtailment and settlement (gains) losses | 1.6 | (0.2 | ) | 7.4 | 6.0 | ||||||||||
Net periodic pension benefit cost after net curtailment and settlement (gains) losses | $ | 28.7 | $ | 28.9 | $ | 96.5 | $ | 117.6 | |||||||
Amounts recorded in continuing operations | $ | 28.1 | $ | 27.5 | $ | 95.5 | $ | 112.6 | |||||||
Amounts recorded in discontinued operations | 0.6 | 1.4 | 1.0 | 5.0 | |||||||||||
Total | $ | 28.7 | $ | 28.9 | $ | 96.5 | $ | 117.6 |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Service cost | $ | 2.2 | $ | 1.8 | $ | 6.4 | $ | 6.7 | |||||||
Interest cost | 10.6 | 10.1 | 31.8 | 35.9 | |||||||||||
Net amortization of: | |||||||||||||||
Prior service gains | (0.9 | ) | (0.7 | ) | (2.6 | ) | (2.5 | ) | |||||||
Net actuarial losses | 0.7 | — | 2.2 | 8.3 | |||||||||||
Net periodic postretirement benefit cost | $ | 12.6 | $ | 11.2 | $ | 37.8 | $ | 48.4 | |||||||
Amounts recorded in continuing operations | $ | 8.5 | $ | 7.3 | $ | 25.3 | $ | 29.5 | |||||||
Amounts recorded in discontinued operations | 4.1 | 3.9 | 12.5 | 18.9 | |||||||||||
Total | $ | 12.6 | $ | 11.2 | $ | 37.8 | $ | 48.4 |
|
Fair value measurements | Total fair value | ||||||||||||||
In millions | Level 1 | Level 2 | Level 3 | ||||||||||||
Assets: | |||||||||||||||
Cash and cash equivalents | $ | 1,403.8 | $ | — | $ | — | $ | 1,403.8 | |||||||
Marketable securities | 10.6 | — | — | 10.6 | |||||||||||
Derivative instruments | — | 9.2 | — | 9.2 | |||||||||||
Benefit trust assets | 15.3 | 153.0 | — | 168.3 | |||||||||||
Total | $ | 1,429.7 | $ | 162.2 | $ | — | $ | 1,591.9 | |||||||
Liabilities: | |||||||||||||||
Derivative instruments | $ | — | $ | 43.7 | $ | — | $ | 43.7 | |||||||
Benefit trust liabilities | 15.8 | 154.1 | — | 169.9 | |||||||||||
Total | $ | 15.8 | $ | 197.8 | $ | — | $ | 213.6 |
Fair value measurements | Total fair value | ||||||||||||||
In millions | Level 1 | Level 2 | Level 3 | ||||||||||||
Assets: | |||||||||||||||
Cash and cash equivalents | $ | 1,014.3 | $ | — | $ | — | $ | 1,014.3 | |||||||
Marketable securities | 15.5 | — | — | 15.5 | |||||||||||
Derivative instruments | — | 21.5 | — | 21.5 | |||||||||||
Benefit trust assets | 17.3 | 155.2 | — | 172.5 | |||||||||||
Total | $ | 1,047.1 | $ | 176.7 | $ | — | $ | 1,223.8 | |||||||
Liabilities: | |||||||||||||||
Derivative instruments | $ | — | $ | 2.6 | $ | — | $ | 2.6 | |||||||
Benefit trust liabilities | 17.4 | 178.4 | — | 195.8 | |||||||||||
Total | $ | 17.4 | $ | 181.0 | $ | — | $ | 198.4 |
|
In millions | Total | |
December 31, 2010 | 328.2 | |
Shares issued under incentive plans | 5.1 | |
Repurchase of ordinary shares | (17.3 | ) |
September 30, 2011 | 316.0 |
In millions | IR-Ireland shareholders’ equity | Noncontrolling interests | Total equity | ||||||||
Balance at December 31, 2010 | $ | 7,964.3 | $ | 94.8 | $ | 8,059.1 | |||||
Net earnings | 100.9 | 20.3 | 121.2 | ||||||||
Currency translation | (38.9 | ) | — | (38.9 | ) | ||||||
Change in value of marketable securities and derivatives qualifying as cash flow hedges, net of tax | 1.3 | — | 1.3 | ||||||||
Pension and OPEB adjustments, net of tax | 92.4 | — | 92.4 | ||||||||
Total comprehensive income | 155.7 | 20.3 | 176.0 | ||||||||
Share-based compensation | 31.0 | — | 31.0 | ||||||||
Acquisition/divestiture of noncontrolling interests | (1.3 | ) | (1.2 | ) | (2.5 | ) | |||||
Dividends to noncontrolling interests | — | (22.9 | ) | (22.9 | ) | ||||||
Dividends to ordinary shareholders | (101.5 | ) | — | (101.5 | ) | ||||||
Accretion of Exchangeable Senior Notes from Temporary equity | 10.0 | — | 10.0 | ||||||||
Shares issued under incentive plans | 107.4 | — | 107.4 | ||||||||
Repurchase of ordinary shares | (575.6 | ) | — | (575.6 | ) | ||||||
Other | (0.7 | ) | (1.6 | ) | (2.3 | ) | |||||
Balance at September 30, 2011 | $ | 7,589.3 | $ | 89.4 | $ | 7,678.7 |
In millions | IR-Ireland shareholders’ equity | Noncontrolling interests | Total equity | ||||||||
Balance at December 31, 2009 | $ | 7,071.8 | $ | 103.9 | $ | 7,175.7 | |||||
Net earnings | 430.1 | 15.5 | 445.6 | ||||||||
Currency translation | (13.1 | ) | — | (13.1 | ) | ||||||
Change in value of marketable securities and derivatives qualifying as cash flow hedges, net of tax | 4.8 | — | 4.8 | ||||||||
Pension and OPEB adjustments, net of tax | 48.9 | — | 48.9 | ||||||||
Total comprehensive income | 470.7 | 15.5 | 486.2 | ||||||||
Share-based compensation | 46.5 | — | 46.5 | ||||||||
Acquisition of noncontrolling interest | (5.0 | ) | (3.0 | ) | (8.0 | ) | |||||
Dividends to noncontrolling interests | — | (9.4 | ) | (9.4 | ) | ||||||
Dividends to ordinary shareholders | (67.7 | ) | — | (67.7 | ) | ||||||
Accretion of Exchangeable Senior Notes from Temporary equity | 10.0 | — | 10.0 | ||||||||
Shares issued under incentive plans | 47.5 | — | 47.5 | ||||||||
Other | — | (7.3 | ) | (7.3 | ) | ||||||
Balance at September 30, 2010 | $ | 7,573.8 | $ | 99.7 | $ | 7,673.5 |
|
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Climate Solutions | $ | 8.3 | $ | 8.0 | $ | 13.9 | $ | 20.2 | |||||||
Residential Solutions | 2.2 | 0.2 | 2.4 | 1.1 | |||||||||||
Industrial Technologies | 1.9 | 6.3 | 3.1 | * | 10.4 | ||||||||||
Security Technologies | 0.7 | (0.1 | ) | (0.4 | ) | ** | 2.4 | ||||||||
Corporate and Other | 0.3 | 0.6 | 0.3 | 0.5 | |||||||||||
Total | $ | 13.4 | $ | 15.0 | $ | 19.3 | $ | 34.6 | |||||||
Cost of goods sold | $ | 5.6 | $ | 8.8 | $ | 4.1 | $ | 23.5 | |||||||
Selling and administrative expenses | 7.8 | 6.2 | 15.2 | 11.1 | |||||||||||
Total | $ | 13.4 | $ | 15.0 | $ | 19.3 | $ | 34.6 |
In millions | Climate Solutions | Residential Solutions | Industrial Technologies | Security Technologies | Corporate and Other | Total | |||||||||||||||||
December 31, 2010 | $ | 3.2 | $ | 3.2 | $ | 10.1 | $ | 8.1 | $ | 3.4 | $ | 28.0 | |||||||||||
Additions, net of reversals | 13.9 | 2.4 | 3.1 | * | (0.4 | ) | ** | 0.3 | 19.3 | ||||||||||||||
Cash and non-cash uses | (11.5 | ) | (3.7 | ) | (7.7 | ) | (6.3 | ) | (0.6 | ) | (29.8 | ) | |||||||||||
Currency translation | — | — | — | 0.2 | — | 0.2 | |||||||||||||||||
September 30, 2011 | $ | 5.6 | $ | 1.9 | $ | 5.5 | $ | 1.6 | $ | 3.1 | $ | 17.7 |
|
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Interest income | $ | 8.0 | $ | 2.8 | $ | 19.8 | $ | 10.4 | |||||||
Exchange gain (loss) | 11.2 | 2.3 | 3.6 | 1.7 | |||||||||||
Other | 2.1 | 3.6 | 5.2 | 10.2 | |||||||||||
Other, net | $ | 21.3 | $ | 8.7 | $ | 28.6 | $ | 22.3 |
|
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Net revenues | $ | — | $ | 24.2 | $ | — | $ | 62.4 | |||||||
Pre-tax earnings (loss) from operations | $ | (12.9 | ) | $ | (49.2 | ) | $ | (37.2 | ) | $ | (133.9 | ) | |||
Pre-tax gain (loss) on sale | (7.2 | ) | (0.3 | ) | (40.8 | ) | (0.7 | ) | |||||||
Tax benefit (expense) | 11.5 | 10.0 | 29.9 | 16.9 | |||||||||||
Discontinued operations, net of tax | $ | (8.6 | ) | $ | (39.5 | ) | $ | (48.1 | ) | $ | (117.7 | ) |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Energy Systems, net of tax | $ | (0.5 | ) | $ | (9.5 | ) | $ | — | $ | (12.5 | ) | ||||
KOXKA, net of tax | (0.3 | ) | (19.5 | ) | (1.0 | ) | (68.9 | ) | |||||||
Other discontinued operations, net of tax | (7.8 | ) | (10.5 | ) | (47.1 | ) | (36.3 | ) | |||||||
Discontinued operations, net of tax | $ | (8.6 | ) | $ | (39.5 | ) | $ | (48.1 | ) | $ | (117.7 | ) |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Net revenues | $ | 281.8 | $ | 319.4 | $ | 781.7 | $ | 839.1 | |||||||
Loss on sale/asset impairment | (264.8 | ) | * | — | (651.6 | ) | * | — | |||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | (157.9 | ) | 26.8 | (528.3 | ) | 49.8 | |||||||||
Diluted earnings (loss) per share attributable to Ingersoll-Rand plc ordinary shareholders: | (0.46 | ) | 0.08 | (1.52 | ) | 0.15 |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Net revenues | $ | 281.8 | $ | 319.4 | $ | 781.7 | $ | 839.1 | |||||||
Segment operating income | $ | 30.1 | $ | 37.3 | $ | 56.1 | $ | 72.7 |
In millions | September 30, 2011 | December 31, 2010 | |||||
Assets | |||||||
Current assets | $ | 66.6 | $ | 225.0 | |||
Property, plant and equipment, net | 0.3 | 107.4 | |||||
Goodwill | — | 407.4 | |||||
Intangible assets, net | — | 389.5 | |||||
Other assets and deferred income taxes | 0.1 | 5.5 | |||||
Assets held for sale before asset impairment | $ | 67.0 | $ | 1,134.8 | |||
Asset impairment | (23.0 | ) | — | ||||
Assets held for sale | $ | 44.0 | $ | 1,134.8 | |||
Liabilities | |||||||
Current liabilities | $ | 43.6 | $ | 106.1 | |||
Noncurrent liabilities | 0.4 | 61.0 | |||||
Liabilities held for sale | $ | 44.0 | $ | 167.1 |
Three months ended | Nine months ended | |||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | ||||||||||||
Net revenues | $ | — | $ | 3.9 | $ | — | $ | 5.7 | ||||||||
After-tax earnings (loss) from operations | $ | (0.3 | ) | $ | (9.5 | ) | * | $ | — | $ | (12.5 | ) | * | |||
Gain (loss) on sale, net of tax | (0.2 | ) | — | — | — | |||||||||||
Discontinued operations, net of tax | $ | (0.5 | ) | $ | (9.5 | ) | $ | — | $ | (12.5 | ) |
Three months ended | Nine months ended | |||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | ||||||||||||
Net revenues | $ | — | $ | 20.3 | $ | — | $ | 56.7 | ||||||||
After-tax earnings (loss) from operations | $ | (0.3 | ) | $ | (19.5 | ) | * | $ | (1.0 | ) | $ | (68.9 | ) | * | ||
Gain (loss) on sale, net of tax | — | — | — | — | ||||||||||||
Discontinued operations, net of tax | $ | (0.3 | ) | $ | (19.5 | ) | $ | (1.0 | ) | $ | (68.9 | ) |
|
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Net revenues | |||||||||||||||
Climate Solutions | $ | 2,289.7 | $ | 2,120.8 | $ | 6,380.0 | $ | 5,739.6 | |||||||
Residential Solutions | 504.4 | 575.4 | 1,569.8 | 1,611.4 | |||||||||||
Industrial Technologies | 696.5 | 624.3 | 2,108.9 | 1,793.2 | |||||||||||
Security Technologies | 437.9 | 409.8 | 1,269.5 | 1,223.2 | |||||||||||
Total | $ | 3,928.5 | $ | 3,730.3 | $ | 11,328.2 | $ | 10,367.4 | |||||||
Segment operating income | |||||||||||||||
Climate Solutions | $ | 264.3 | * | $ | 219.8 | $ | 631.7 | * | $ | 451.6 | |||||
Residential Solutions | 19.0 | 57.8 | 67.2 | 143.2 | |||||||||||
Industrial Technologies | 95.9 | 79.4 | 301.6 | 219.8 | |||||||||||
Security Technologies | 88.4 | 90.5 | 250.0 | 243.7 | |||||||||||
Total | $ | 467.6 | $ | 447.5 | $ | 1,250.5 | $ | 1,058.3 | |||||||
Reconciliation to Operating income | |||||||||||||||
Loss on sale/asset impairment | (264.8 | ) | * | — | (651.6 | ) | * | — | |||||||
Unallocated corporate expense | (23.1 | ) | (36.8 | ) | (80.1 | ) | (115.6 | ) | |||||||
Operating income | $ | 179.7 | $ | 410.7 | $ | 518.8 | $ | 942.7 |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Net revenues | $ | 281.8 | $ | 319.4 | $ | 781.7 | $ | 839.1 | |||||||
Loss on sale/asset impairment | (264.8 | ) | * | — | (651.6 | ) | * | — | |||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | (157.9 | ) | 26.8 | (528.3 | ) | 49.8 | |||||||||
Diluted earnings (loss) per share attributable to Ingersoll-Rand plc ordinary shareholders: | (0.46 | ) | 0.08 | (1.52 | ) | 0.15 |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Net revenues | $ | 281.8 | $ | 319.4 | $ | 781.7 | $ | 839.1 | |||||||
Segment operating income | $ | 30.1 | $ | 37.3 | $ | 56.1 | $ | 72.7 |
|
In millions | September 30, 2011 | December 31, 2010 | |||||
Accrued expenses and other current liabilities | $ | 75.5 | $ | 75.5 | |||
Other noncurrent liabilities | 877.9 | 945.0 | |||||
Total asbestos-related liabilities | $ | 953.4 | $ | 1,020.5 | |||
Other current assets | $ | 28.8 | $ | 26.3 | |||
Other noncurrent assets | 290.5 | 319.9 | |||||
Total asset for probable asbestos-related insurance recoveries | $ | 319.3 | $ | 346.2 |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2011 | 2010 | 2011 | 2010 | |||||||||||
Continuing operations | $ | 0.3 | $ | 0.4 | $ | (2.3 | ) | $ | (2.2 | ) | |||||
Discontinued operations | (3.0 | ) | (1.7 | ) | (8.6 | ) | (10.5 | ) | |||||||
Total | $ | (2.7 | ) | $ | (1.3 | ) | $ | (10.9 | ) | $ | (12.7 | ) |
In millions | 2011 | 2010 | |||||
Balance at beginning of period | $ | 632.1 | $ | 620.2 | |||
Reductions for payments | (169.9 | ) | (202.6 | ) | |||
Accruals for warranties issued during the current period | 179.4 | 212.1 | |||||
Changes to accruals related to preexisting warranties | (0.6 | ) | (0.4 | ) | |||
Translation | 0.5 | (0.6 | ) | ||||
Balance at end of period | $ | 641.5 | $ | 628.7 |
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