|
|
|
|
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|
|
In millions | September 30, 2015 | December 31, 2014 | |||||
Raw materials | $ | 544.1 | $ | 487.9 | |||
Work-in-process | 162.1 | 118.2 | |||||
Finished goods | 932.3 | 823.1 | |||||
1,638.5 | 1,429.2 | ||||||
LIFO reserve | (60.6 | ) | (70.3 | ) | |||
Total | $ | 1,577.9 | $ | 1,358.9 |
|
In millions | Climate | Industrial | Total | ||||||||
Gross balance as of December 31, 2014 | $ | 7,518.9 | $ | 366.9 | $ | 7,885.8 | |||||
Accumulated impairment (1) | (2,496.0 | ) | — | (2,496.0 | ) | ||||||
Net balance as of December 31, 2014 | 5,022.9 | 366.9 | 5,389.8 | ||||||||
Acquisitions and adjustments (2) | 60.0 | 438.3 | 498.3 | ||||||||
Currency translation | (109.5 | ) | (15.7 | ) | (125.2 | ) | |||||
Gross balance as of September 30, 2015 | 7,469.4 | 789.5 | 8,258.9 | ||||||||
Accumulated impairment (1) | (2,496.0 | ) | — | (2,496.0 | ) | ||||||
Net balance as of September 30, 2015 | $ | 4,973.4 | $ | 789.5 | $ | 5,762.9 |
|
September 30, 2015 | December 31, 2014 | |||||||||||||||||||||||
In millions | Gross carrying amount | Accumulated amortization | Net carrying amount | Gross carrying amount | Accumulated amortization | Net carrying amount | ||||||||||||||||||
Completed technologies/patents | $ | 214.9 | $ | (163.2 | ) | $ | 51.7 | $ | 172.2 | $ | (146.8 | ) | $ | 25.4 | ||||||||||
Customer relationships | 2,026.8 | (783.7 | ) | 1,243.1 | 1,850.6 | (699.8 | ) | 1,150.8 | ||||||||||||||||
Other | 71.6 | (44.3 | ) | 27.3 | 55.9 | (50.2 | ) | 5.7 | ||||||||||||||||
Total finite-lived intangible assets | 2,313.3 | $ | (991.2 | ) | 1,322.1 | 2,078.7 | $ | (896.8 | ) | 1,181.9 | ||||||||||||||
Trademarks (indefinite-lived) | 2,646.8 | 2,646.8 | 2,602.0 | 2,602.0 | ||||||||||||||||||||
Total | $ | 4,960.1 | $ | 3,968.9 | $ | 4,680.7 | $ | 3,783.9 |
|
In millions | September 30, 2015 | December 31, 2014 | |||||
Debentures with put feature | $ | 343.0 | $ | 343.0 | |||
Commercial Paper | 465.1 | 100.0 | |||||
Other current maturities of long-term debt | 7.8 | 23.6 | |||||
Other short-term borrowings | 21.1 | 16.1 | |||||
Total | $ | 837.0 | $ | 482.7 |
In millions | September 30, 2015 | December 31, 2014 | |||||
6.875% Senior notes due 2018 | $ | 749.7 | $ | 749.6 | |||
2.875% Senior notes due 2019 | 349.7 | 349.6 | |||||
2.625% Senior notes due 2020 | 299.8 | 299.8 | |||||
9.00% Debentures due 2021 | 125.0 | 125.0 | |||||
4.250% Senior notes due 2023 | 699.0 | 698.9 | |||||
7.20% Debentures due 2017-2025 | 67.5 | 75.0 | |||||
3.550% Senior notes due 2024 | 497.3 | 497.2 | |||||
6.48% Debentures due 2025 | 149.8 | 149.7 | |||||
5.750% Senior notes due 2043 | 498.0 | 498.0 | |||||
4.650% Senior notes due 2044 | 298.2 | 298.2 | |||||
Other loans and notes | 0.6 | 0.7 | |||||
Total | $ | 3,734.6 | $ | 3,741.7 |
• | 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. |
|
Derivative assets | Derivative liabilities | ||||||||||||||
In millions | September 30, 2015 | December 31, 2014 | September 30, 2015 | December 31, 2014 | |||||||||||
Currency derivatives designated as hedges | $ | 0.6 | $ | 0.3 | $ | 0.4 | $ | 3.2 | |||||||
Currency derivatives not designated as hedges | 33.4 | 1.3 | 13.6 | 10.1 | |||||||||||
Total derivatives | $ | 34.0 | $ | 1.6 | $ | 14.0 | $ | 13.3 |
Amount of gain (loss) recognized in AOCI | Location of loss reclassified from AOCI and recognized into Net earnings | Amount of loss reclassified from AOCI and recognized into Net earnings | |||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||||
Currency derivatives designated as hedges | $ | 1.1 | $ | (2.1 | ) | Cost of goods sold | $ | (0.7 | ) | $ | (0.4 | ) | |||||
Interest rate swaps & locks | — | — | Interest expense | (0.1 | ) | (0.4 | ) | ||||||||||
Total | $ | 1.1 | $ | (2.1 | ) | $ | (0.8 | ) | $ | (0.8 | ) |
Location of gain (loss) recognized in Net earnings | Amount of gain (loss) recognized in Net earnings | ||||||||
In millions | 2015 | 2014 | |||||||
Currency derivatives not designated as hedges | Other income/(expense), net | $ | (18.5 | ) | $ | (12.8 | ) | ||
Total | $ | (18.5 | ) | $ | (12.8 | ) |
Amount of gain recognized in AOCI | Location of loss reclassified from AOCI and recognized into Net earnings | Amount of loss reclassified from AOCI and recognized into Net earnings | |||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||||
Currency derivatives designated as hedges | $ | 1.1 | $ | (0.5 | ) | Cost of goods sold | $ | (2.0 | ) | $ | (2.0 | ) | |||||
Interest rate swaps & locks | — | — | Interest expense | (0.4 | ) | (1.3 | ) | ||||||||||
Total | $ | 1.1 | $ | (0.5 | ) | $ | (2.4 | ) | $ | (3.3 | ) |
Location of gain (loss) recognized in Net earnings | Amount of gain (loss) recognized in Net earnings | ||||||||
In millions | 2015 | 2014 | |||||||
Currency derivatives not designated as hedges | Other income/(expense), net | $ | (1.1 | ) | $ | (11.1 | ) | ||
Total | $ | (1.1 | ) | $ | (11.1 | ) |
|
Three months ended | Nine months ended | ||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||
Service cost | $ | 18.7 | $ | 16.6 | $ | 56.4 | $ | 51.2 | |||||||
Interest cost | 32.0 | 36.8 | 97.2 | 110.7 | |||||||||||
Expected return on plan assets | (39.6 | ) | (38.9 | ) | (118.8 | ) | (117.4 | ) | |||||||
Net amortization of: | |||||||||||||||
Prior service costs | 0.8 | 1.3 | 2.4 | 3.4 | |||||||||||
Plan net actuarial losses | 14.6 | 9.2 | 45.5 | 27.2 | |||||||||||
Net periodic pension benefit cost | 26.5 | 25.0 | 82.7 | 75.1 | |||||||||||
Net curtailment and settlement losses | — | 2.8 | — | 6.5 | |||||||||||
Net periodic pension benefit cost after net curtailment and settlement losses | $ | 26.5 | $ | 27.8 | $ | 82.7 | $ | 81.6 | |||||||
Amounts recorded in continuing operations | $ | 24.1 | $ | 25.9 | $ | 75.0 | $ | 76.1 | |||||||
Amounts recorded in discontinued operations | 2.4 | 1.9 | 7.7 | 5.5 | |||||||||||
Total | $ | 26.5 | $ | 27.8 | $ | 82.7 | $ | 81.6 |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||
Service cost | $ | 1.2 | $ | 1.1 | $ | 3.3 | $ | 3.7 | |||||||
Interest cost | 5.2 | 6.5 | 17.1 | 21.1 | |||||||||||
Net amortization of: | |||||||||||||||
Prior service gains | (2.3 | ) | (2.2 | ) | (6.7 | ) | (6.6 | ) | |||||||
Net actuarial losses | (0.2 | ) | — | — | — | ||||||||||
Net periodic postretirement benefit cost | $ | 3.9 | $ | 5.4 | $ | 13.7 | $ | 18.2 | |||||||
Amounts recorded in continuing operations | $ | 2.5 | $ | 3.7 | $ | 8.5 | $ | 12.1 | |||||||
Amounts recorded in discontinued operations | 1.4 | 1.7 | 5.2 | 6.1 | |||||||||||
Total | $ | 3.9 | $ | 5.4 | $ | 13.7 | $ | 18.2 |
|
In millions | Ordinary shares issued | Ordinary shares held in treasury | |||
December 31, 2014 | 266.3 | 3.4 | |||
Shares issued under incentive plans, net | 2.5 | — | |||
Repurchase of ordinary shares | — | 4.1 | |||
September 30, 2015 | 268.8 | 7.5 |
In millions | IR-Ireland shareholders’ equity | Noncontrolling interests | Total equity | ||||||||
Balance at December 31, 2014 | $ | 5,987.4 | $ | 58.0 | $ | 6,045.4 | |||||
Net earnings | 431.1 | 13.2 | 444.3 | ||||||||
Currency translation | (359.4 | ) | (3.9 | ) | (363.3 | ) | |||||
Change in value of derivatives qualifying as cash flow hedges, net of tax | 2.8 | — | 2.8 | ||||||||
Pension and OPEB adjustments, net of tax | 35.5 | — | 35.5 | ||||||||
Total comprehensive income | 110.0 | 9.3 | 119.3 | ||||||||
Share-based compensation | 49.9 | — | 49.9 | ||||||||
Dividends declared to noncontrolling interests | — | (9.0 | ) | (9.0 | ) | ||||||
Dividends declared to ordinary shareholders | (230.2 | ) | — | (230.2 | ) | ||||||
Shares issued under incentive plans, net | 54.7 | — | 54.7 | ||||||||
Repurchase of ordinary shares | (233.4 | ) | — | (233.4 | ) | ||||||
Balance at September 30, 2015 | $ | 5,738.4 | $ | 58.3 | $ | 5,796.7 |
In millions | IR-Ireland shareholders’ equity | Noncontrolling interests | Total equity | ||||||||
Balance at December 31, 2013 | $ | 7,068.9 | $ | 62.4 | $ | 7,131.3 | |||||
Net earnings | 676.2 | 14.0 | 690.2 | ||||||||
Currency translation | (275.4 | ) | (0.5 | ) | (275.9 | ) | |||||
Change in value of derivatives qualifying as cash flow hedges, net of tax | 2.4 | — | 2.4 | ||||||||
Pension and OPEB adjustments, net of tax | 26.0 | — | 26.0 | ||||||||
Total comprehensive income | 429.2 | 13.5 | 442.7 | ||||||||
Share-based compensation | 51.6 | — | 51.6 | ||||||||
Dividends declared to noncontrolling interests | — | (16.3 | ) | (16.3 | ) | ||||||
Dividends declared to ordinary shareholders | (201.8 | ) | — | (201.8 | ) | ||||||
Shares issued under incentive plans, net | 99.1 | — | 99.1 | ||||||||
Repurchase of ordinary shares | (1,172.9 | ) | — | (1,172.9 | ) | ||||||
Balance at September 30, 2014 | $ | 6,274.1 | $ | 59.6 | $ | 6,333.7 |
In millions | Cash flow hedges | Pension and OPEB Items | Foreign Currency Items | Total | ||||||||||||
Balance at December 31, 2014 | $ | 3.1 | $ | (665.1 | ) | $ | (52.3 | ) | $ | (714.3 | ) | |||||
Other comprehensive income before reclassifications | 1.1 | 9.9 | (359.4 | ) | (348.4 | ) | ||||||||||
Amounts reclassified from accumulated other comprehensive income | 2.4 | 41.2 | — | 43.6 | ||||||||||||
Provision for income taxes | (0.7 | ) | (15.6 | ) | — | (16.3 | ) | |||||||||
Net current period other comprehensive income (loss) | $ | 2.8 | $ | 35.5 | $ | (359.4 | ) | $ | (321.1 | ) | ||||||
Balance at September 30, 2015 | $ | 5.9 | $ | (629.6 | ) | $ | (411.7 | ) | $ | (1,035.4 | ) |
In millions | Cash flow hedges | Pension and OPEB Items | Foreign Currency Items | Total | ||||||||||||
Balance at December 31, 2013 | $ | 0.4 | $ | (562.8 | ) | $ | 395.7 | $ | (166.7 | ) | ||||||
Other comprehensive income before reclassifications | (0.5 | ) | 6.3 | (275.4 | ) | (269.6 | ) | |||||||||
Amounts reclassified from accumulated other comprehensive income | 3.3 | 30.5 | — | 33.8 | ||||||||||||
Provision for income taxes | (0.4 | ) | (10.8 | ) | — | (11.2 | ) | |||||||||
Net current period other comprehensive income (loss) | $ | 2.4 | $ | 26.0 | $ | (275.4 | ) | $ | (247.0 | ) | ||||||
Balance at September 30, 2014 | $ | 2.8 | $ | (536.8 | ) | $ | 120.3 | $ | (413.7 | ) |
Three months ended | Nine months ended | |||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | ||||||||||||
Cash flow hedges | ||||||||||||||||
Reclassifications of deferred losses (1) | $ | 0.8 | $ | 0.8 | $ | 2.4 | $ | 3.3 | ||||||||
Provision (benefit) for income taxes | — | 0.1 | — | (0.4 | ) | |||||||||||
Reclassifications, net of taxes | $ | 0.8 | $ | 0.9 | $ | 2.4 | $ | 2.9 | ||||||||
Pension and Postretirement benefits | ||||||||||||||||
Amortization of service costs (2) | $ | (1.5 | ) | $ | (0.9 | ) | $ | (4.3 | ) | $ | (3.2 | ) | ||||
Amortization of actuarial losses (2) | 14.4 | 9.2 | 45.5 | 27.2 | ||||||||||||
Reclassifications of settlements or curtailments (2) | — | 2.8 | — | 6.5 | ||||||||||||
Provision for income taxes | (4.4 | ) | (4.3 | ) | (15.6 | ) | (10.8 | ) | ||||||||
Reclassifications, net of taxes | $ | 8.5 | $ | 6.8 | $ | 25.6 | $ | 19.7 | ||||||||
Total reclassifications, net of taxes | $ | 9.3 | $ | 7.7 | $ | 28.0 | $ | 22.6 |
|
Three months ended | Nine months ended | ||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||
Interest income | $ | 2.5 | $ | 3.0 | $ | 7.8 | $ | 9.4 | |||||||
Exchange gain (loss) | 4.1 | (1.0 | ) | (28.3 | ) | (2.4 | ) | ||||||||
Income from equity investment | 6.5 | 3.3 | 10.7 | 3.7 | |||||||||||
Other activity, net | (0.9 | ) | 4.3 | 17.6 | 9.5 | ||||||||||
Other income/(expense), net | $ | 12.2 | $ | 9.6 | $ | 7.8 | $ | 20.2 |
|
|
Three months ended | Nine months ended | ||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||
Net revenues | |||||||||||||||
Climate | $ | 2,758.2 | $ | 2,644.0 | $ | 7,732.2 | $ | 7,433.8 | |||||||
Industrial | 728.7 | 741.0 | 2,242.7 | 2,217.1 | |||||||||||
Total | $ | 3,486.9 | $ | 3,385.0 | $ | 9,974.9 | $ | 9,650.9 | |||||||
Segment operating income | |||||||||||||||
Climate | $ | 428.9 | $ | 377.6 | $ | 982.2 | $ | 897.9 | |||||||
Industrial | 101.1 | 108.8 | 266.6 | 318.2 | |||||||||||
Total | $ | 530.0 | $ | 486.4 | $ | 1,248.8 | $ | 1,216.1 | |||||||
Reconciliation to Operating income | |||||||||||||||
Unallocated corporate expense | (54.6 | ) | (46.4 | ) | (150.1 | ) | (157.7 | ) | |||||||
Operating income | $ | 475.4 | $ | 440.0 | $ | 1,098.7 | $ | 1,058.4 |
|
• | 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 | September 30, 2015 | December 31, 2014 | |||||
Accrued expenses and other current liabilities | $ | 66.9 | $ | 67.6 | |||
Other noncurrent liabilities | 675.0 | 709.0 | |||||
Total asbestos-related liabilities | $ | 741.9 | $ | 776.6 | |||
Other current assets | $ | 43.3 | $ | 57.2 | |||
Other noncurrent assets | 289.4 | 278.5 | |||||
Total asset for probable asbestos-related insurance recoveries | $ | 332.7 | $ | 335.7 |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||
Continuing operations | $ | (2.9 | ) | $ | 3.5 | $ | 14.8 | $ | 2.3 | ||||||
Discontinued operations | (1.2 | ) | (4.5 | ) | (6.8 | ) | (18.3 | ) | |||||||
Total | $ | (4.1 | ) | $ | (1.0 | ) | $ | 8.0 | $ | (16.0 | ) |
• | IR-New Jersey 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 IR-New Jersey, including Trane, and the success of other companies in recovering under their insurance policies, including Trane's favorable settlement discussed above; |
• | the Company's confidence in its right to recovery under the terms of its policies and pursuant to applicable law; and |
• | the Company's history of receiving payments under the IR-New Jersey insurance program, including under policies that had been the subject of prior litigation. |
In millions | 2015 | 2014 | |||||
Balance at beginning of period | $ | 253.6 | $ | 245.7 | |||
Reductions for payments | (104.3 | ) | (113.9 | ) | |||
Accruals for warranties issued during the current period | 108.8 | 116.4 | |||||
Accruals for warranties assumed from acquisitions during the current period | 9.7 | — | |||||
Changes to accruals related to preexisting warranties | (0.1 | ) | 10.8 | ||||
Translation | (3.6 | ) | (3.1 | ) | |||
Balance at end of period | $ | 264.1 | $ | 255.9 |
In millions | 2015 | 2014 | |||||
Balance at beginning of period | $ | 330.1 | $ | 359.1 | |||
Amortization of deferred revenue for the period | (79.7 | ) | (77.6 | ) | |||
Additions for extended warranties issued during the period | 65.6 | 59.9 | |||||
Changes to accruals related to preexisting warranties | 2.9 | (2.4 | ) | ||||
Translation | (2.3 | ) | (1.1 | ) | |||
Balance at end of period | $ | 316.6 | $ | 337.9 |
|
• | IR-Ireland, IR-Limited, IR-International and IR-Lux fully and unconditionally guarantee the outstanding public debt of IR-Global and IR-New Jersey; |
• | IR-Ireland, IR-Limited, IR-International, IR-Global and IR-New Jersey fully and unconditionally guarantee the outstanding public debt of IR-Lux; |
• | IR-Ireland, IR-Limited, IR-International and IR-New Jersey fully and unconditionally guarantee the revolving credit facilities of IR-Global and IR-Lux (as an additional borrower), and each of IR-Global and IR-Lux guarantee any revolving credit facility borrowings of the other; |
• | IR-Ireland, IR-Limited, IR-International and IR-New Jersey fully and unconditionally guarantee any commercial paper borrowings of IR-Global or IR-Lux, and IR-Global guarantees any such borrowings of IR-Lux; and |
• | IR-New Jersey is a co-obligor of the outstanding public debt issued by IR-Global. |
In millions | IR Ireland | IR Limited | IR International | IR Global | IR New Jersey | IR Lux | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | ||||||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 281.7 | $ | — | $ | 3,205.2 | $ | — | $ | 3,486.9 | |||||||||||||||||
Cost of goods sold | — | — | — | — | (178.5 | ) | — | (2,200.9 | ) | — | (2,379.4 | ) | |||||||||||||||||||||||
Selling and administrative expenses | (1.6 | ) | — | — | — | (109.6 | ) | (0.1 | ) | (520.8 | ) | — | (632.1 | ) | |||||||||||||||||||||
Operating income (loss) | (1.6 | ) | — | — | — | (6.4 | ) | (0.1 | ) | 483.5 | — | 475.4 | |||||||||||||||||||||||
Equity earnings (loss) in affiliates, net of tax | 311.3 | 311.3 | 309.0 | 187.8 | 256.1 | 22.0 | 497.0 | (1,894.5 | ) | — | |||||||||||||||||||||||||
Interest expense | — | — | — | (31.8 | ) | (11.9 | ) | (11.1 | ) | (1.0 | ) | — | (55.8 | ) | |||||||||||||||||||||
Intercompany interest and fees | (7.2 | ) | (1.0 | ) | 0.2 | (7.1 | ) | (66.6 | ) | (0.5 | ) | 82.2 | — | — | |||||||||||||||||||||
Other income/(expense), net | (2.1 | ) | — | — | — | 20.7 | — | (6.7 | ) | 0.3 | 12.2 | ||||||||||||||||||||||||
Earnings (loss) before income taxes | 300.4 | 310.3 | 309.2 | 148.9 | 191.9 | 10.3 | 1,055.0 | (1,894.2 | ) | 431.8 | |||||||||||||||||||||||||
Benefit (provision) for income taxes | 0.4 | — | — | 14.2 | 9.9 | — | (138.3 | ) | — | (113.8 | ) | ||||||||||||||||||||||||
Earnings (loss) from continuing operations | 300.8 | 310.3 | 309.2 | 163.1 | 201.8 | 10.3 | 916.7 | (1,894.2 | ) | 318.0 | |||||||||||||||||||||||||
Earnings (loss) from discontinued operations, net of tax | — | — | — | — | (13.8 | ) | — | 1.8 | — | (12.0 | ) | ||||||||||||||||||||||||
Net earnings (loss) | 300.8 | 310.3 | 309.2 | 163.1 | 188.0 | 10.3 | 918.5 | (1,894.2 | ) | 306.0 | |||||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | — | (26.9 | ) | 21.8 | (5.1 | ) | ||||||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 300.8 | $ | 310.3 | $ | 309.2 | $ | 163.1 | $ | 188.0 | $ | 10.3 | $ | 891.6 | $ | (1,872.4 | ) | $ | 300.9 | ||||||||||||||||
Total comprehensive income (loss) | 198.6 | 206.8 | 309.1 | 163.1 | 177.5 | 10.1 | 808.3 | (1,672.7 | ) | 200.8 | |||||||||||||||||||||||||
Less: Total comprehensive (income) loss attributable to noncontrolling interests | — | — | — | — | — | — | (24.0 | ) | 21.8 | (2.2 | ) | ||||||||||||||||||||||||
Total comprehensive income (loss) attributable to Ingersoll-Rand plc | $ | 198.6 | $ | 206.8 | $ | 309.1 | $ | 163.1 | $ | 177.5 | $ | 10.1 | $ | 784.3 | $ | (1,650.9 | ) | $ | 198.6 |
In millions | IR Ireland | IR Limited | IR International | IR Global | IR New Jersey | IR Lux | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | ||||||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 848.2 | $ | — | $ | 9,126.7 | $ | — | $ | 9,974.9 | |||||||||||||||||
Cost of goods sold | — | — | — | — | (545.4 | ) | — | (6,415.2 | ) | — | (6,960.6 | ) | |||||||||||||||||||||||
Selling and administrative expenses | (6.9 | ) | — | — | — | (338.2 | ) | (0.5 | ) | (1,570.0 | ) | — | (1,915.6 | ) | |||||||||||||||||||||
Operating income (loss) | (6.9 | ) | — | — | — | (35.4 | ) | (0.5 | ) | 1,141.5 | — | 1,098.7 | |||||||||||||||||||||||
Equity earnings (loss) in affiliates, net of tax | 460.1 | 460.3 | 458.4 | 145.0 | 565.2 | 129.7 | 601.7 | (2,820.4 | ) | — | |||||||||||||||||||||||||
Interest expense | — | — | — | (95.7 | ) | (36.2 | ) | (31.9 | ) | (2.9 | ) | — | (166.7 | ) | |||||||||||||||||||||
Intercompany interest and fees | (19.0 | ) | (2.8 | ) | (2.5 | ) | (20.9 | ) | (193.8 | ) | (1.6 | ) | 240.6 | — | — | ||||||||||||||||||||
Other income/(expense), net | (4.6 | ) | — | — | — | 52.0 | — | (39.9 | ) | 0.3 | 7.8 | ||||||||||||||||||||||||
Earnings (loss) before income taxes | 429.6 | 457.5 | 455.9 | 28.4 | 351.8 | 95.7 | 1,941.0 | (2,820.1 | ) | 939.8 | |||||||||||||||||||||||||
Benefit (provision) for income taxes | 1.4 | — | — | 42.4 | (178.6 | ) | — | (337.3 | ) | — | (472.1 | ) | |||||||||||||||||||||||
Earnings (loss) from continuing operations | 431.0 | 457.5 | 455.9 | 70.8 | 173.2 | 95.7 | 1,603.7 | (2,820.1 | ) | 467.7 | |||||||||||||||||||||||||
Earnings (loss) from discontinued operations, net of tax | — | — | — | (27.3 | ) | — | 3.9 | — | (23.4 | ) | |||||||||||||||||||||||||
Net earnings (loss) | 431.0 | 457.5 | 455.9 | 70.8 | 145.9 | 95.7 | 1,607.6 | (2,820.1 | ) | 444.3 | |||||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | — | (142.7 | ) | 129.5 | (13.2 | ) | ||||||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 431.0 | $ | 457.5 | $ | 455.9 | $ | 70.8 | $ | 145.9 | $ | 95.7 | $ | 1,464.9 | $ | (2,690.6 | ) | $ | 431.1 | ||||||||||||||||
Total comprehensive income (loss) | 110.0 | 135.1 | 455.8 | 71.1 | 144.2 | 95.6 | 1,268.3 | (2,160.8 | ) | 119.3 | |||||||||||||||||||||||||
Less: Total comprehensive (income) loss attributable to noncontrolling interests | — | — | — | — | — | — | (138.8 | ) | 129.5 | (9.3 | ) | ||||||||||||||||||||||||
Total comprehensive income (loss) attributable to Ingersoll-Rand plc | $ | 110.0 | $ | 135.1 | $ | 455.8 | $ | 71.1 | $ | 144.2 | $ | 95.6 | $ | 1,129.5 | $ | (2,031.3 | ) | $ | 110.0 |
In millions | IR Ireland | IR Limited | IR International | IR Global | IR New Jersey | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | |||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 250.4 | $ | 3,134.6 | $ | — | $ | 3,385.0 | |||||||||||||||
Cost of goods sold | — | — | — | — | (165.5 | ) | (2,161.5 | ) | — | (2,327.0 | ) | ||||||||||||||||||||
Selling and administrative expenses | (1.8 | ) | — | — | (0.1 | ) | (103.7 | ) | (512.4 | ) | — | (618.0 | ) | ||||||||||||||||||
Operating income (loss) | (1.8 | ) | — | — | (0.1 | ) | (18.8 | ) | 460.7 | — | 440.0 | ||||||||||||||||||||
Equity earnings (loss) in affiliates, net of tax | 297.5 | 298.9 | 301.9 | 140.6 | 217.3 | 437.6 | (1,693.8 | ) | — | ||||||||||||||||||||||
Interest expense | — | — | (4.0 | ) | (32.0 | ) | (12.1 | ) | (4.2 | ) | — | (52.3 | ) | ||||||||||||||||||
Intercompany interest and fees | (4.6 | ) | (0.8 | ) | (1.0 | ) | 0.1 | (60.7 | ) | 67.0 | — | — | |||||||||||||||||||
Other income/(expense), net | — | — | — | — | (0.4 | ) | 10.0 | — | 9.6 | ||||||||||||||||||||||
Earnings (loss) before income taxes | 291.1 | 298.1 | 296.9 | 108.6 | 125.3 | 971.1 | (1,693.8 | ) | 397.3 | ||||||||||||||||||||||
Benefit (provision) for income taxes | 0.2 | — | — | 11.6 | 25.2 | (131.1 | ) | — | (94.1 | ) | |||||||||||||||||||||
Earnings (loss) from continuing operations | 291.3 | 298.1 | 296.9 | 120.2 | 150.5 | 840.0 | (1,693.8 | ) | 303.2 | ||||||||||||||||||||||
Earnings (loss) from discontinued operations, net of tax | — | — | — | — | (9.6 | ) | 2.6 | — | (7.0 | ) | |||||||||||||||||||||
Net earnings | 291.3 | 298.1 | 296.9 | 120.2 | 140.9 | 842.6 | (1,693.8 | ) | 296.2 | ||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | (4.9 | ) | — | (4.9 | ) | |||||||||||||||||||||
Net earnings attributable to Ingersoll-Rand plc | $ | 291.3 | $ | 298.1 | $ | 296.9 | $ | 120.2 | $ | 140.9 | $ | 837.7 | $ | (1,693.8 | ) | $ | 291.3 | ||||||||||||||
Total comprehensive income | 75.1 | 81.8 | 297.2 | 120.3 | 144.5 | 620.8 | (1,261.4 | ) | 78.3 | ||||||||||||||||||||||
Less: Total comprehensive income attributable to noncontrolling interests | — | — | — | — | — | (3.2 | ) | — | (3.2 | ) | |||||||||||||||||||||
Total comprehensive income attributable to Ingersoll-Rand plc | $ | 75.1 | $ | 81.8 | $ | 297.2 | $ | 120.3 | $ | 144.5 | $ | 617.6 | $ | (1,261.4 | ) | $ | 75.1 |
In millions | IR Ireland | IR Limited | IR International | IR Global | IR New Jersey | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | |||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 726.4 | $ | 8,924.5 | $ | — | $ | 9,650.9 | |||||||||||||||
Cost of goods sold | — | — | — | — | (450.9 | ) | (6,270.8 | ) | — | (6,721.7 | ) | ||||||||||||||||||||
Selling and administrative expenses | (24.6 | ) | — | — | (0.5 | ) | (299.3 | ) | (1,546.4 | ) | — | (1,870.8 | ) | ||||||||||||||||||
Operating income (loss) | (24.6 | ) | — | — | (0.5 | ) | (23.8 | ) | 1,107.3 | — | 1,058.4 | ||||||||||||||||||||
Equity earnings in affiliates, net of tax | 712.8 | 720.0 | 732.3 | 325.2 | 503.7 | 1,032.9 | (4,026.9 | ) | — | ||||||||||||||||||||||
Interest expense | — | — | (11.9 | ) | (95.9 | ) | (36.7 | ) | (12.8 | ) | — | (157.3 | ) | ||||||||||||||||||
Intercompany interest and fees | (12.7 | ) | (2.6 | ) | (8.8 | ) | (0.9 | ) | (147.7 | ) | 172.7 | — | — | ||||||||||||||||||
Other income/(expense), net | 0.2 | — | 3.3 | — | 13.5 | 3.2 | — | 20.2 | |||||||||||||||||||||||
Earnings (loss) before income taxes | 675.7 | 717.4 | 714.9 | 227.9 | 309.0 | 2,303.3 | (4,026.9 | ) | 921.3 | ||||||||||||||||||||||
Benefit (provision) for income taxes | 0.5 | (0.1 | ) | — | 31.1 | 44.1 | (298.1 | ) | — | (222.5 | ) | ||||||||||||||||||||
Earnings (loss) from continuing operations | 676.2 | 717.3 | 714.9 | 259.0 | 353.1 | 2,005.2 | (4,026.9 | ) | 698.8 | ||||||||||||||||||||||
Earnings (loss) from discontinued operations, net of tax | — | — | — | — | (34.8 | ) | 26.2 | — | (8.6 | ) | |||||||||||||||||||||
Net earnings (loss) | 676.2 | 717.3 | 714.9 | 259.0 | 318.3 | 2,031.4 | (4,026.9 | ) | 690.2 | ||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | (14.0 | ) | — | (14.0 | ) | |||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 676.2 | $ | 717.3 | $ | 714.9 | $ | 259.0 | $ | 318.3 | $ | 2,017.4 | $ | (4,026.9 | ) | $ | 676.2 | ||||||||||||||
Total comprehensive income (loss) | 429.2 | 477.6 | 715.8 | 259.3 | 379.3 | 1,650.4 | (3,468.9 | ) | 442.7 | ||||||||||||||||||||||
Less: Total comprehensive income attributable to noncontrolling interests | — | — | — | — | — | (13.5 | ) | — | (13.5 | ) | |||||||||||||||||||||
Total comprehensive income attributable to Ingersoll-Rand plc | $ | 429.2 | $ | 477.6 | $ | 715.8 | $ | 259.3 | $ | 379.3 | $ | 1,636.9 | $ | (3,468.9 | ) | $ | 429.2 |
In millions | IR Ireland | IR Limited | IR International | IR Global | IR New Jersey | IR Lux | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | ||||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | — | $ | — | $ | 10.4 | $ | 0.2 | $ | 660.0 | $ | (19.1 | ) | $ | 651.5 | ||||||||||||||||
Accounts and notes receivable, net | — | — | — | — | 179.8 | — | 2,162.6 | — | 2,342.4 | ||||||||||||||||||||||||||
Inventories | — | — | — | — | 212.6 | — | 1,365.3 | — | 1,577.9 | ||||||||||||||||||||||||||
Other current assets | 1.6 | — | — | 25.0 | 570.9 | — | 365.5 | — | 963.0 | ||||||||||||||||||||||||||
Accounts and notes receivable affiliates | 84.8 | 309.5 | 7,401.7 | 192.0 | 1,287.2 | 180.4 | 17,382.8 | (26,838.4 | ) | — | |||||||||||||||||||||||||
Total current assets | 86.4 | 309.5 | 7,401.7 | 217.0 | 2,260.9 | 180.6 | 21,936.2 | (26,857.5 | ) | 5,534.8 | |||||||||||||||||||||||||
Investment in affiliates | 9,959.3 | 13,051.1 | 4,325.8 | 9,478.4 | 15,227.1 | 1,927.9 | 6,029.3 | (59,998.9 | ) | — | |||||||||||||||||||||||||
Property, plant and equipment, net | — | — | — | — | 468.7 | — | 1,110.9 | — | 1,579.6 | ||||||||||||||||||||||||||
Goodwill and other intangible assets, net | — | — | — | — | 418.5 | — | 9,313.3 | — | 9,731.8 | ||||||||||||||||||||||||||
Other noncurrent assets | 0.2 | — | — | 216.6 | 793.6 | 8.9 | 642.1 | (683.5 | ) | 977.9 | |||||||||||||||||||||||||
Total assets | $ | 10,045.9 | $ | 13,360.6 | $ | 11,727.5 | $ | 9,912.0 | $ | 19,168.8 | $ | 2,117.4 | $ | 39,031.8 | $ | (87,539.9 | ) | $ | 17,824.1 | ||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||||||||
Accounts payable and accruals | $ | 7.0 | $ | — | $ | — | $ | 33.0 | $ | 951.6 | $ | 16.0 | $ | 2,710.5 | $ | (19.1 | ) | $ | 3,699.0 | ||||||||||||||||
Short-term borrowings and current maturities of long-term debt | — | — | — | — | 350.5 | 465.1 | 21.4 | — | 837.0 | ||||||||||||||||||||||||||
Accounts and note payable affiliates | 4,300.4 | 752.1 | — | 442.0 | 10,960.9 | 402.3 | 9,981.7 | (26,839.4 | ) | — | |||||||||||||||||||||||||
Total current liabilities | 4,307.4 | 752.1 | — | 475.0 | 12,263.0 | 883.4 | 12,713.6 | (26,858.5 | ) | 4,536.0 | |||||||||||||||||||||||||
Long-term debt | — | — | — | 2,296.3 | 342.1 | 1,095.4 | 0.8 | — | 3,734.6 | ||||||||||||||||||||||||||
Other noncurrent liabilities | — | — | 3.8 | 2.8 | 1,425.0 | — | 3,010.7 | (685.5 | ) | 3,756.8 | |||||||||||||||||||||||||
Total liabilities | 4,307.4 | 752.1 | 3.8 | 2,774.1 | 14,030.1 | 1,978.8 | 15,725.1 | (27,544.0 | ) | 12,027.4 | |||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||||||||
Total equity | 5,738.5 | 12,608.5 | 11,723.7 | 7,137.9 | 5,138.7 | 138.6 | 23,306.7 | (59,995.9 | ) | 5,796.7 | |||||||||||||||||||||||||
Total liabilities and equity | $ | 10,045.9 | $ | 13,360.6 | $ | 11,727.5 | $ | 9,912.0 | $ | 19,168.8 | $ | 2,117.4 | $ | 39,031.8 | $ | (87,539.9 | ) | $ | 17,824.1 |
In millions | IR Ireland | IR Limited | IR International | IR Global | IR New Jersey | IR Lux | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | ||||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | — | $ | — | $ | 425.4 | $ | — | $ | 1,279.8 | $ | — | $ | 1,705.2 | |||||||||||||||||
Accounts and notes receivable, net | — | — | — | — | 147.0 | — | 1,972.0 | — | 2,119.0 | ||||||||||||||||||||||||||
Inventories | — | — | — | — | 106.1 | — | 1,252.8 | — | 1,358.9 | ||||||||||||||||||||||||||
Other current assets | 0.1 | — | — | 31.0 | 126.9 | — | 366.8 | — | 524.8 | ||||||||||||||||||||||||||
Accounts and notes receivable affiliates | 48.6 | 309.5 | 8,227.0 | 306.0 | 4,788.2 | 50.7 | 21,832.6 | (35,562.6 | ) | — | |||||||||||||||||||||||||
Total current assets | 48.7 | 309.5 | 8,227.0 | 337.0 | 5,593.6 | 50.7 | 26,704.0 | (35,562.6 | ) | 5,707.9 | |||||||||||||||||||||||||
Investment in affiliates | 9,738.8 | 12,913.2 | 4,011.0 | 9,333.0 | 15,028.4 | 1,699.9 | 6,502.0 | (59,226.3 | ) | — | |||||||||||||||||||||||||
Property, plant and equipment, net | — | — | — | — | 324.7 | — | 1,152.3 | — | 1,477.0 | ||||||||||||||||||||||||||
Goodwill and other intangible assets, net | — | — | — | — | 66.6 | — | 9,107.1 | — | 9,173.7 | ||||||||||||||||||||||||||
Other noncurrent assets | 0.2 | — | — | 176.7 | 731.7 | 9.6 | 595.4 | (573.7 | ) | 939.9 | |||||||||||||||||||||||||
Total assets | $ | 9,787.7 | $ | 13,222.7 | $ | 12,238.0 | $ | 9,846.7 | $ | 21,745.0 | $ | 1,760.2 | $ | 44,060.8 | $ | (95,362.6 | ) | $ | 17,298.5 | ||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||||||||
Accounts payable and accruals | $ | 7.9 | $ | — | $ | — | $ | 26.6 | $ | 495.8 | $ | 8.1 | $ | 2,645.0 | $ | — | $ | 3,183.4 | |||||||||||||||||
Short-term borrowings and current maturities of long-term debt | — | — | — | — | 350.5 | 100.0 | 32.2 | — | 482.7 | ||||||||||||||||||||||||||
Accounts and note payable affiliates | 3,792.4 | 749.2 | 966.4 | 441.3 | 14,779.8 | 514.1 | 14,319.5 | (35,562.7 | ) | — | |||||||||||||||||||||||||
Total current liabilities | 3,800.3 | 749.2 | 966.4 | 467.9 | 15,626.1 | 622.2 | 16,996.7 | (35,562.7 | ) | 3,666.1 | |||||||||||||||||||||||||
Long-term debt | — | — | — | 2,296.1 | 349.6 | 1,095.1 | 0.9 | — | 3,741.7 | ||||||||||||||||||||||||||
Other noncurrent liabilities | — | — | 3.8 | 2.7 | 1,471.6 | — | 2,940.9 | (573.7 | ) | 3,845.3 | |||||||||||||||||||||||||
Total liabilities | 3,800.3 | 749.2 | 970.2 | 2,766.7 | 17,447.3 | 1,717.3 | 19,938.5 | (36,136.4 | ) | 11,253.1 | |||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||||||||
Total equity | 5,987.4 | 12,473.5 | 11,267.8 | 7,080.0 | 4,297.7 | 42.9 | 24,122.3 | (59,226.2 | ) | 6,045.4 | |||||||||||||||||||||||||
Total liabilities and equity | $ | 9,787.7 | $ | 13,222.7 | $ | 12,238.0 | $ | 9,846.7 | $ | 21,745.0 | $ | 1,760.2 | $ | 44,060.8 | $ | (95,362.6 | ) | $ | 17,298.5 |
In millions | IR Ireland | IR Limited | IR International | IR Global | IR New Jersey | IR Lux | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | ||||||||||||||||||||||||||
Net cash provided by (used in) continuing operating activities | $ | (11.5 | ) | $ | — | $ | — | $ | (95.7 | ) | $ | (594.9 | ) | $ | (32.4 | ) | $ | 1,050.7 | $ | (36.0 | ) | $ | 280.2 | ||||||||||||
Net cash used in discontinued operating activities | — | — | — | — | (27.3 | ) | — | 0.1 | — | (27.2 | ) | ||||||||||||||||||||||||
Net cash provided by (used in) operating activities | (11.5 | ) | — | — | (95.7 | ) | (622.2 | ) | (32.4 | ) | 1,050.8 | (36.0 | ) | 253.0 | |||||||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||||||||||||
Capital expenditures | — | — | — | — | (94.7 | ) | — | (78.6 | ) | — | (173.3 | ) | |||||||||||||||||||||||
Acquisition of businesses, net of cash acquired | — | — | — | — | (448.1 | ) | — | (503.9 | ) | — | (952.0 | ) | |||||||||||||||||||||||
Proceeds from sale of property, plant and equipment | — | — | — | 0.1 | 0.2 | — | 14.5 | — | 14.8 | ||||||||||||||||||||||||||
Net cash used in continuing investing activities | — | — | — | 0.1 | (542.6 | ) | — | (568.0 | ) | — | (1,110.5 | ) | |||||||||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||||||||||||
Net proceeds (repayments) in debt | — | — | — | — | (7.5 | ) | 355.3 | (8.7 | ) | 339.1 | |||||||||||||||||||||||||
Net inter-company proceeds (payments) | 417.7 | — | — | 95.6 | 757.3 | (322.7 | ) | (947.9 | ) | — | |||||||||||||||||||||||||
Dividends paid to ordinary shareholders | (227.4 | ) | — | — | — | — | — | (16.9 | ) | 16.9 | (227.4 | ) | |||||||||||||||||||||||
Dividends paid to noncontrolling interests | — | — | — | — | — | — | (9.0 | ) | — | (9.0 | ) | ||||||||||||||||||||||||
Repurchase of ordinary shares | (233.4 | ) | — | — | — | — | — | — | (233.4 | ) | |||||||||||||||||||||||||
Other financing activities, net | 54.6 | — | — | — | — | — | — | 54.6 | |||||||||||||||||||||||||||
Net cash provided by (used in) continuing financing activities | 11.5 | — | — | 95.6 | 749.8 | 32.6 | (982.5 | ) | 16.9 | (76.1 | ) | ||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | — | — | — | (120.1 | ) | — | (120.1 | ) | ||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | — | — | — | (415.0 | ) | 0.2 | (619.8 | ) | (19.1 | ) | (1,053.7 | ) | ||||||||||||||||||||||
Cash and cash equivalents - beginning of period | — | — | — | — | 425.4 | — | 1,279.8 | — | 1,705.2 | ||||||||||||||||||||||||||
Cash and cash equivalents - end of period | $ | — | $ | — | $ | — | $ | — | $ | 10.4 | $ | 0.2 | $ | 660.0 | $ | (19.1 | ) | $ | 651.5 |
In millions | IR Ireland | IR Limited | IR International | IR Global | IR New Jersey | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | |||||||||||||||||||||||
Net cash provided by (used in) continuing operating activities | $ | (24.3 | ) | $ | — | $ | (8.6 | ) | $ | (96.4 | ) | $ | 58.6 | $ | 1,555.6 | $ | (927.2 | ) | $ | 557.7 | |||||||||||
Net cash provided by (used in) discontinued operating activities | — | — | — | — | (74.4 | ) | 14.3 | — | (60.1 | ) | |||||||||||||||||||||
Net cash provided by (used in) operating activities | (24.3 | ) | — | (8.6 | ) | (96.4 | ) | (15.8 | ) | 1,569.9 | (927.2 | ) | 497.6 | ||||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||||||||
Capital expenditures | — | — | — | — | (60.3 | ) | (90.4 | ) | — | (150.7 | ) | ||||||||||||||||||||
Acquisition of businesses, net of cash acquired | — | — | — | — | — | (9.3 | ) | — | (9.3 | ) | |||||||||||||||||||||
Proceeds from sale of property, plant and equipment | — | — | — | — | 1.5 | 5.1 | — | 6.6 | |||||||||||||||||||||||
Proceeds from business disposition, net of cash sold | — | — | — | — | — | 2.1 | — | 2.1 | |||||||||||||||||||||||
Dividends received from equity investment | — | — | — | — | — | 30.3 | — | 30.3 | |||||||||||||||||||||||
Net cash provided by (used in) continuing investing activities | — | — | — | — | (58.8 | ) | (62.2 | ) | — | (121.0 | ) | ||||||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||||||||
Net proceeds (repayments) in debt | — | — | — | — | (7.5 | ) | 11.5 | — | 4.0 | ||||||||||||||||||||||
Net inter-company proceeds (payments) | 1,297.4 | — | 8.6 | (870.0 | ) | 757.4 | (1,193.4 | ) | — | — | |||||||||||||||||||||
Dividends paid to ordinary shareholders | (199.2 | ) | — | — | — | (734.1 | ) | (193.1 | ) | 927.2 | (199.2 | ) | |||||||||||||||||||
Dividends paid to noncontrolling interests | — | — | — | — | — | (16.3 | ) | — | (16.3 | ) | |||||||||||||||||||||
Proceeds from shares issued under incentive plans | 32.3 | — | — | — | — | — | — | 32.3 | |||||||||||||||||||||||
Repurchase of ordinary shares | (1,172.9 | ) | — | — | — | — | — | — | (1,172.9 | ) | |||||||||||||||||||||
Other financing activities, net | 66.7 | — | — | (2.6 | ) | — | — | — | 64.1 | ||||||||||||||||||||||
Net cash provided by (used in) continuing financing activities | 24.3 | — | 8.6 | (872.6 | ) | 15.8 | (1,391.3 | ) | 927.2 | (1,288.0 | ) | ||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | — | — | (89.1 | ) | — | (89.1 | ) | |||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | — | — | (969.0 | ) | (58.8 | ) | 27.3 | — | (1,000.5 | ) | ||||||||||||||||||||
Cash and cash equivalents - beginning of period | — | — | — | 975.3 | 59.6 | 902.3 | — | 1,937.2 | |||||||||||||||||||||||
Cash and cash equivalents - end of period | $ | — | $ | — | $ | — | $ | 6.3 | $ | 0.8 | $ | 929.6 | $ | — | $ | 936.7 |
|
In millions | September 30, 2015 | December 31, 2014 | |||||
Raw materials | $ | 544.1 | $ | 487.9 | |||
Work-in-process | 162.1 | 118.2 | |||||
Finished goods | 932.3 | 823.1 | |||||
1,638.5 | 1,429.2 | ||||||
LIFO reserve | (60.6 | ) | (70.3 | ) | |||
Total | $ | 1,577.9 | $ | 1,358.9 |
|
In millions | Climate | Industrial | Total | ||||||||
Gross balance as of December 31, 2014 | $ | 7,518.9 | $ | 366.9 | $ | 7,885.8 | |||||
Accumulated impairment (1) | (2,496.0 | ) | — | (2,496.0 | ) | ||||||
Net balance as of December 31, 2014 | 5,022.9 | 366.9 | 5,389.8 | ||||||||
Acquisitions and adjustments (2) | 60.0 | 438.3 | 498.3 | ||||||||
Currency translation | (109.5 | ) | (15.7 | ) | (125.2 | ) | |||||
Gross balance as of September 30, 2015 | 7,469.4 | 789.5 | 8,258.9 | ||||||||
Accumulated impairment (1) | (2,496.0 | ) | — | (2,496.0 | ) | ||||||
Net balance as of September 30, 2015 | $ | 4,973.4 | $ | 789.5 | $ | 5,762.9 |
|
September 30, 2015 | December 31, 2014 | |||||||||||||||||||||||
In millions | Gross carrying amount | Accumulated amortization | Net carrying amount | Gross carrying amount | Accumulated amortization | Net carrying amount | ||||||||||||||||||
Completed technologies/patents | $ | 214.9 | $ | (163.2 | ) | $ | 51.7 | $ | 172.2 | $ | (146.8 | ) | $ | 25.4 | ||||||||||
Customer relationships | 2,026.8 | (783.7 | ) | 1,243.1 | 1,850.6 | (699.8 | ) | 1,150.8 | ||||||||||||||||
Other | 71.6 | (44.3 | ) | 27.3 | 55.9 | (50.2 | ) | 5.7 | ||||||||||||||||
Total finite-lived intangible assets | 2,313.3 | $ | (991.2 | ) | 1,322.1 | 2,078.7 | $ | (896.8 | ) | 1,181.9 | ||||||||||||||
Trademarks (indefinite-lived) | 2,646.8 | 2,646.8 | 2,602.0 | 2,602.0 | ||||||||||||||||||||
Total | $ | 4,960.1 | $ | 3,968.9 | $ | 4,680.7 | $ | 3,783.9 |
|
In millions | September 30, 2015 | December 31, 2014 | |||||
Debentures with put feature | $ | 343.0 | $ | 343.0 | |||
Commercial Paper | 465.1 | 100.0 | |||||
Other current maturities of long-term debt | 7.8 | 23.6 | |||||
Other short-term borrowings | 21.1 | 16.1 | |||||
Total | $ | 837.0 | $ | 482.7 |
In millions | September 30, 2015 | December 31, 2014 | |||||
6.875% Senior notes due 2018 | $ | 749.7 | $ | 749.6 | |||
2.875% Senior notes due 2019 | 349.7 | 349.6 | |||||
2.625% Senior notes due 2020 | 299.8 | 299.8 | |||||
9.00% Debentures due 2021 | 125.0 | 125.0 | |||||
4.250% Senior notes due 2023 | 699.0 | 698.9 | |||||
7.20% Debentures due 2017-2025 | 67.5 | 75.0 | |||||
3.550% Senior notes due 2024 | 497.3 | 497.2 | |||||
6.48% Debentures due 2025 | 149.8 | 149.7 | |||||
5.750% Senior notes due 2043 | 498.0 | 498.0 | |||||
4.650% Senior notes due 2044 | 298.2 | 298.2 | |||||
Other loans and notes | 0.6 | 0.7 | |||||
Total | $ | 3,734.6 | $ | 3,741.7 |
|
Derivative assets | Derivative liabilities | ||||||||||||||
In millions | September 30, 2015 | December 31, 2014 | September 30, 2015 | December 31, 2014 | |||||||||||
Currency derivatives designated as hedges | $ | 0.6 | $ | 0.3 | $ | 0.4 | $ | 3.2 | |||||||
Currency derivatives not designated as hedges | 33.4 | 1.3 | 13.6 | 10.1 | |||||||||||
Total derivatives | $ | 34.0 | $ | 1.6 | $ | 14.0 | $ | 13.3 |
Amount of gain recognized in AOCI | Location of loss reclassified from AOCI and recognized into Net earnings | Amount of loss reclassified from AOCI and recognized into Net earnings | |||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||||
Currency derivatives designated as hedges | $ | 1.1 | $ | (0.5 | ) | Cost of goods sold | $ | (2.0 | ) | $ | (2.0 | ) | |||||
Interest rate swaps & locks | — | — | Interest expense | (0.4 | ) | (1.3 | ) | ||||||||||
Total | $ | 1.1 | $ | (0.5 | ) | $ | (2.4 | ) | $ | (3.3 | ) |
Amount of gain (loss) recognized in AOCI | Location of loss reclassified from AOCI and recognized into Net earnings | Amount of loss reclassified from AOCI and recognized into Net earnings | |||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||||
Currency derivatives designated as hedges | $ | 1.1 | $ | (2.1 | ) | Cost of goods sold | $ | (0.7 | ) | $ | (0.4 | ) | |||||
Interest rate swaps & locks | — | — | Interest expense | (0.1 | ) | (0.4 | ) | ||||||||||
Total | $ | 1.1 | $ | (2.1 | ) | $ | (0.8 | ) | $ | (0.8 | ) |
Location of gain (loss) recognized in Net earnings | Amount of gain (loss) recognized in Net earnings | ||||||||
In millions | 2015 | 2014 | |||||||
Currency derivatives not designated as hedges | Other income/(expense), net | $ | (18.5 | ) | $ | (12.8 | ) | ||
Total | $ | (18.5 | ) | $ | (12.8 | ) |
Location of gain (loss) recognized in Net earnings | Amount of gain (loss) recognized in Net earnings | ||||||||
In millions | 2015 | 2014 | |||||||
Currency derivatives not designated as hedges | Other income/(expense), net | $ | (1.1 | ) | $ | (11.1 | ) | ||
Total | $ | (1.1 | ) | $ | (11.1 | ) |
|
Three months ended | Nine months ended | ||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||
Service cost | $ | 18.7 | $ | 16.6 | $ | 56.4 | $ | 51.2 | |||||||
Interest cost | 32.0 | 36.8 | 97.2 | 110.7 | |||||||||||
Expected return on plan assets | (39.6 | ) | (38.9 | ) | (118.8 | ) | (117.4 | ) | |||||||
Net amortization of: | |||||||||||||||
Prior service costs | 0.8 | 1.3 | 2.4 | 3.4 | |||||||||||
Plan net actuarial losses | 14.6 | 9.2 | 45.5 | 27.2 | |||||||||||
Net periodic pension benefit cost | 26.5 | 25.0 | 82.7 | 75.1 | |||||||||||
Net curtailment and settlement losses | — | 2.8 | — | 6.5 | |||||||||||
Net periodic pension benefit cost after net curtailment and settlement losses | $ | 26.5 | $ | 27.8 | $ | 82.7 | $ | 81.6 | |||||||
Amounts recorded in continuing operations | $ | 24.1 | $ | 25.9 | $ | 75.0 | $ | 76.1 | |||||||
Amounts recorded in discontinued operations | 2.4 | 1.9 | 7.7 | 5.5 | |||||||||||
Total | $ | 26.5 | $ | 27.8 | $ | 82.7 | $ | 81.6 |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||
Service cost | $ | 1.2 | $ | 1.1 | $ | 3.3 | $ | 3.7 | |||||||
Interest cost | 5.2 | 6.5 | 17.1 | 21.1 | |||||||||||
Net amortization of: | |||||||||||||||
Prior service gains | (2.3 | ) | (2.2 | ) | (6.7 | ) | (6.6 | ) | |||||||
Net actuarial losses | (0.2 | ) | — | — | — | ||||||||||
Net periodic postretirement benefit cost | $ | 3.9 | $ | 5.4 | $ | 13.7 | $ | 18.2 | |||||||
Amounts recorded in continuing operations | $ | 2.5 | $ | 3.7 | $ | 8.5 | $ | 12.1 | |||||||
Amounts recorded in discontinued operations | 1.4 | 1.7 | 5.2 | 6.1 | |||||||||||
Total | $ | 3.9 | $ | 5.4 | $ | 13.7 | $ | 18.2 |
|
In millions | Ordinary shares issued | Ordinary shares held in treasury | |||
December 31, 2014 | 266.3 | 3.4 | |||
Shares issued under incentive plans, net | 2.5 | — | |||
Repurchase of ordinary shares | — | 4.1 | |||
September 30, 2015 | 268.8 | 7.5 |
In millions | IR-Ireland shareholders’ equity | Noncontrolling interests | Total equity | ||||||||
Balance at December 31, 2014 | $ | 5,987.4 | $ | 58.0 | $ | 6,045.4 | |||||
Net earnings | 431.1 | 13.2 | 444.3 | ||||||||
Currency translation | (359.4 | ) | (3.9 | ) | (363.3 | ) | |||||
Change in value of derivatives qualifying as cash flow hedges, net of tax | 2.8 | — | 2.8 | ||||||||
Pension and OPEB adjustments, net of tax | 35.5 | — | 35.5 | ||||||||
Total comprehensive income | 110.0 | 9.3 | 119.3 | ||||||||
Share-based compensation | 49.9 | — | 49.9 | ||||||||
Dividends declared to noncontrolling interests | — | (9.0 | ) | (9.0 | ) | ||||||
Dividends declared to ordinary shareholders | (230.2 | ) | — | (230.2 | ) | ||||||
Shares issued under incentive plans, net | 54.7 | — | 54.7 | ||||||||
Repurchase of ordinary shares | (233.4 | ) | — | (233.4 | ) | ||||||
Balance at September 30, 2015 | $ | 5,738.4 | $ | 58.3 | $ | 5,796.7 |
In millions | IR-Ireland shareholders’ equity | Noncontrolling interests | Total equity | ||||||||
Balance at December 31, 2013 | $ | 7,068.9 | $ | 62.4 | $ | 7,131.3 | |||||
Net earnings | 676.2 | 14.0 | 690.2 | ||||||||
Currency translation | (275.4 | ) | (0.5 | ) | (275.9 | ) | |||||
Change in value of derivatives qualifying as cash flow hedges, net of tax | 2.4 | — | 2.4 | ||||||||
Pension and OPEB adjustments, net of tax | 26.0 | — | 26.0 | ||||||||
Total comprehensive income | 429.2 | 13.5 | 442.7 | ||||||||
Share-based compensation | 51.6 | — | 51.6 | ||||||||
Dividends declared to noncontrolling interests | — | (16.3 | ) | (16.3 | ) | ||||||
Dividends declared to ordinary shareholders | (201.8 | ) | — | (201.8 | ) | ||||||
Shares issued under incentive plans, net | 99.1 | — | 99.1 | ||||||||
Repurchase of ordinary shares | (1,172.9 | ) | — | (1,172.9 | ) | ||||||
Balance at September 30, 2014 | $ | 6,274.1 | $ | 59.6 | $ | 6,333.7 |
In millions | Cash flow hedges | Pension and OPEB Items | Foreign Currency Items | Total | ||||||||||||
Balance at December 31, 2014 | $ | 3.1 | $ | (665.1 | ) | $ | (52.3 | ) | $ | (714.3 | ) | |||||
Other comprehensive income before reclassifications | 1.1 | 9.9 | (359.4 | ) | (348.4 | ) | ||||||||||
Amounts reclassified from accumulated other comprehensive income | 2.4 | 41.2 | — | 43.6 | ||||||||||||
Provision for income taxes | (0.7 | ) | (15.6 | ) | — | (16.3 | ) | |||||||||
Net current period other comprehensive income (loss) | $ | 2.8 | $ | 35.5 | $ | (359.4 | ) | $ | (321.1 | ) | ||||||
Balance at September 30, 2015 | $ | 5.9 | $ | (629.6 | ) | $ | (411.7 | ) | $ | (1,035.4 | ) |
In millions | Cash flow hedges | Pension and OPEB Items | Foreign Currency Items | Total | ||||||||||||
Balance at December 31, 2013 | $ | 0.4 | $ | (562.8 | ) | $ | 395.7 | $ | (166.7 | ) | ||||||
Other comprehensive income before reclassifications | (0.5 | ) | 6.3 | (275.4 | ) | (269.6 | ) | |||||||||
Amounts reclassified from accumulated other comprehensive income | 3.3 | 30.5 | — | 33.8 | ||||||||||||
Provision for income taxes | (0.4 | ) | (10.8 | ) | — | (11.2 | ) | |||||||||
Net current period other comprehensive income (loss) | $ | 2.4 | $ | 26.0 | $ | (275.4 | ) | $ | (247.0 | ) | ||||||
Balance at September 30, 2014 | $ | 2.8 | $ | (536.8 | ) | $ | 120.3 | $ | (413.7 | ) |
Three months ended | Nine months ended | |||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | ||||||||||||
Cash flow hedges | ||||||||||||||||
Reclassifications of deferred losses (1) | $ | 0.8 | $ | 0.8 | $ | 2.4 | $ | 3.3 | ||||||||
Provision (benefit) for income taxes | — | 0.1 | — | (0.4 | ) | |||||||||||
Reclassifications, net of taxes | $ | 0.8 | $ | 0.9 | $ | 2.4 | $ | 2.9 | ||||||||
Pension and Postretirement benefits | ||||||||||||||||
Amortization of service costs (2) | $ | (1.5 | ) | $ | (0.9 | ) | $ | (4.3 | ) | $ | (3.2 | ) | ||||
Amortization of actuarial losses (2) | 14.4 | 9.2 | 45.5 | 27.2 | ||||||||||||
Reclassifications of settlements or curtailments (2) | — | 2.8 | — | 6.5 | ||||||||||||
Provision for income taxes | (4.4 | ) | (4.3 | ) | (15.6 | ) | (10.8 | ) | ||||||||
Reclassifications, net of taxes | $ | 8.5 | $ | 6.8 | $ | 25.6 | $ | 19.7 | ||||||||
Total reclassifications, net of taxes | $ | 9.3 | $ | 7.7 | $ | 28.0 | $ | 22.6 |
|
Three months ended | Nine months ended | ||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||
Interest income | $ | 2.5 | $ | 3.0 | $ | 7.8 | $ | 9.4 | |||||||
Exchange gain (loss) | 4.1 | (1.0 | ) | (28.3 | ) | (2.4 | ) | ||||||||
Income from equity investment | 6.5 | 3.3 | 10.7 | 3.7 | |||||||||||
Other activity, net | (0.9 | ) | 4.3 | 17.6 | 9.5 | ||||||||||
Other income/(expense), net | $ | 12.2 | $ | 9.6 | $ | 7.8 | $ | 20.2 |
|
In millions | January 1, 2015 | |||
Cash | $ | 10.2 | ||
Accounts receivable | 37.7 | |||
Inventories | 97.1 | |||
Property, plant and equipment | 63.6 | |||
Intangible assets | 272.2 | |||
Other assets | 36.3 | |||
Accounts payable, accrued expenses and other liabilities | (110.5 | ) | ||
Net identifiable assets acquired | 406.6 | |||
Goodwill | 436.5 | |||
Net assets acquired | $ | 843.1 |
In millions | Useful Life | January 1, 2015 | ||
Customer relationships | 14 years | $ | 179.4 | |
Trademarks | Indefinite | 40.2 | ||
Completed technologies/patents | 10 years | 36.6 | ||
Other | 2 - 5 years | 16.0 | ||
Total | $ | 272.2 |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | |||||||
Pre-tax loss from discontinued operations | $ | (4.7 | ) | $ | (9.8 | ) | $ | (23.6 | ) | $ | (27.3 | ) | |||
Tax benefit (expense) | (7.3 | ) | 2.8 | 0.2 | 18.7 | ||||||||||
Discontinued operations, net of tax | $ | (12.0 | ) | $ | (7.0 | ) | $ | (23.4 | ) | $ | (8.6 | ) |
|
Three months ended | Nine months ended | ||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||
Net revenues | |||||||||||||||
Climate | $ | 2,758.2 | $ | 2,644.0 | $ | 7,732.2 | $ | 7,433.8 | |||||||
Industrial | 728.7 | 741.0 | 2,242.7 | 2,217.1 | |||||||||||
Total | $ | 3,486.9 | $ | 3,385.0 | $ | 9,974.9 | $ | 9,650.9 | |||||||
Segment operating income | |||||||||||||||
Climate | $ | 428.9 | $ | 377.6 | $ | 982.2 | $ | 897.9 | |||||||
Industrial | 101.1 | 108.8 | 266.6 | 318.2 | |||||||||||
Total | $ | 530.0 | $ | 486.4 | $ | 1,248.8 | $ | 1,216.1 | |||||||
Reconciliation to Operating income | |||||||||||||||
Unallocated corporate expense | (54.6 | ) | (46.4 | ) | (150.1 | ) | (157.7 | ) | |||||||
Operating income | $ | 475.4 | $ | 440.0 | $ | 1,098.7 | $ | 1,058.4 |
|
In millions | September 30, 2015 | December 31, 2014 | |||||
Accrued expenses and other current liabilities | $ | 66.9 | $ | 67.6 | |||
Other noncurrent liabilities | 675.0 | 709.0 | |||||
Total asbestos-related liabilities | $ | 741.9 | $ | 776.6 | |||
Other current assets | $ | 43.3 | $ | 57.2 | |||
Other noncurrent assets | 289.4 | 278.5 | |||||
Total asset for probable asbestos-related insurance recoveries | $ | 332.7 | $ | 335.7 |
Three months ended | Nine months ended | ||||||||||||||
In millions | 2015 | 2014 | 2015 | 2014 | |||||||||||
Continuing operations | $ | (2.9 | ) | $ | 3.5 | $ | 14.8 | $ | 2.3 | ||||||
Discontinued operations | (1.2 | ) | (4.5 | ) | (6.8 | ) | (18.3 | ) | |||||||
Total | $ | (4.1 | ) | $ | (1.0 | ) | $ | 8.0 | $ | (16.0 | ) |
In millions | 2015 | 2014 | |||||
Balance at beginning of period | $ | 253.6 | $ | 245.7 | |||
Reductions for payments | (104.3 | ) | (113.9 | ) | |||
Accruals for warranties issued during the current period | 108.8 | 116.4 | |||||
Accruals for warranties assumed from acquisitions during the current period | 9.7 | — | |||||
Changes to accruals related to preexisting warranties | (0.1 | ) | 10.8 | ||||
Translation | (3.6 | ) | (3.1 | ) | |||
Balance at end of period | $ | 264.1 | $ | 255.9 |
In millions | 2015 | 2014 | |||||
Balance at beginning of period | $ | 330.1 | $ | 359.1 | |||
Amortization of deferred revenue for the period | (79.7 | ) | (77.6 | ) | |||
Additions for extended warranties issued during the period | 65.6 | 59.9 | |||||
Changes to accruals related to preexisting warranties | 2.9 | (2.4 | ) | ||||
Translation | (2.3 | ) | (1.1 | ) | |||
Balance at end of period | $ | 316.6 | $ | 337.9 |
|
In millions | IR Ireland | IR Limited | IR International | IR Global | IR New Jersey | IR Lux | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | ||||||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 281.7 | $ | — | $ | 3,205.2 | $ | — | $ | 3,486.9 | |||||||||||||||||
Cost of goods sold | — | — | — | — | (178.5 | ) | — | (2,200.9 | ) | — | (2,379.4 | ) | |||||||||||||||||||||||
Selling and administrative expenses | (1.6 | ) | — | — | — | (109.6 | ) | (0.1 | ) | (520.8 | ) | — | (632.1 | ) | |||||||||||||||||||||
Operating income (loss) | (1.6 | ) | — | — | — | (6.4 | ) | (0.1 | ) | 483.5 | — | 475.4 | |||||||||||||||||||||||
Equity earnings (loss) in affiliates, net of tax | 311.3 | 311.3 | 309.0 | 187.8 | 256.1 | 22.0 | 497.0 | (1,894.5 | ) | — | |||||||||||||||||||||||||
Interest expense | — | — | — | (31.8 | ) | (11.9 | ) | (11.1 | ) | (1.0 | ) | — | (55.8 | ) | |||||||||||||||||||||
Intercompany interest and fees | (7.2 | ) | (1.0 | ) | 0.2 | (7.1 | ) | (66.6 | ) | (0.5 | ) | 82.2 | — | — | |||||||||||||||||||||
Other income/(expense), net | (2.1 | ) | — | — | — | 20.7 | — | (6.7 | ) | 0.3 | 12.2 | ||||||||||||||||||||||||
Earnings (loss) before income taxes | 300.4 | 310.3 | 309.2 | 148.9 | 191.9 | 10.3 | 1,055.0 | (1,894.2 | ) | 431.8 | |||||||||||||||||||||||||
Benefit (provision) for income taxes | 0.4 | — | — | 14.2 | 9.9 | — | (138.3 | ) | — | (113.8 | ) | ||||||||||||||||||||||||
Earnings (loss) from continuing operations | 300.8 | 310.3 | 309.2 | 163.1 | 201.8 | 10.3 | 916.7 | (1,894.2 | ) | 318.0 | |||||||||||||||||||||||||
Earnings (loss) from discontinued operations, net of tax | — | — | — | — | (13.8 | ) | — | 1.8 | — | (12.0 | ) | ||||||||||||||||||||||||
Net earnings (loss) | 300.8 | 310.3 | 309.2 | 163.1 | 188.0 | 10.3 | 918.5 | (1,894.2 | ) | 306.0 | |||||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | — | (26.9 | ) | 21.8 | (5.1 | ) | ||||||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 300.8 | $ | 310.3 | $ | 309.2 | $ | 163.1 | $ | 188.0 | $ | 10.3 | $ | 891.6 | $ | (1,872.4 | ) | $ | 300.9 | ||||||||||||||||
Total comprehensive income (loss) | 198.6 | 206.8 | 309.1 | 163.1 | 177.5 | 10.1 | 808.3 | (1,672.7 | ) | 200.8 | |||||||||||||||||||||||||
Less: Total comprehensive (income) loss attributable to noncontrolling interests | — | — | — | — | — | — | (24.0 | ) | 21.8 | (2.2 | ) | ||||||||||||||||||||||||
Total comprehensive income (loss) attributable to Ingersoll-Rand plc | $ | 198.6 | $ | 206.8 | $ | 309.1 | $ | 163.1 | $ | 177.5 | $ | 10.1 | $ | 784.3 | $ | (1,650.9 | ) | $ | 198.6 |
In millions | IR Ireland | IR Limited | IR International | IR Global | IR New Jersey | IR Lux | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | ||||||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 848.2 | $ | — | $ | 9,126.7 | $ | — | $ | 9,974.9 | |||||||||||||||||
Cost of goods sold | — | — | — | — | (545.4 | ) | — | (6,415.2 | ) | — | (6,960.6 | ) | |||||||||||||||||||||||
Selling and administrative expenses | (6.9 | ) | — | — | — | (338.2 | ) | (0.5 | ) | (1,570.0 | ) | — | (1,915.6 | ) | |||||||||||||||||||||
Operating income (loss) | (6.9 | ) | — | — | — | (35.4 | ) | (0.5 | ) | 1,141.5 | — | 1,098.7 | |||||||||||||||||||||||
Equity earnings (loss) in affiliates, net of tax | 460.1 | 460.3 | 458.4 | 145.0 | 565.2 | 129.7 | 601.7 | (2,820.4 | ) | — | |||||||||||||||||||||||||
Interest expense | — | — | — | (95.7 | ) | (36.2 | ) | (31.9 | ) | (2.9 | ) | — | (166.7 | ) | |||||||||||||||||||||
Intercompany interest and fees | (19.0 | ) | (2.8 | ) | (2.5 | ) | (20.9 | ) | (193.8 | ) | (1.6 | ) | 240.6 | — | — | ||||||||||||||||||||
Other income/(expense), net | (4.6 | ) | — | — | — | 52.0 | — | (39.9 | ) | 0.3 | 7.8 | ||||||||||||||||||||||||
Earnings (loss) before income taxes | 429.6 | 457.5 | 455.9 | 28.4 | 351.8 | 95.7 | 1,941.0 | (2,820.1 | ) | 939.8 | |||||||||||||||||||||||||
Benefit (provision) for income taxes | 1.4 | — | — | 42.4 | (178.6 | ) | — | (337.3 | ) | — | (472.1 | ) | |||||||||||||||||||||||
Earnings (loss) from continuing operations | 431.0 | 457.5 | 455.9 | 70.8 | 173.2 | 95.7 | 1,603.7 | (2,820.1 | ) | 467.7 | |||||||||||||||||||||||||
Earnings (loss) from discontinued operations, net of tax | — | — | — | (27.3 | ) | — | 3.9 | — | (23.4 | ) | |||||||||||||||||||||||||
Net earnings (loss) | 431.0 | 457.5 | 455.9 | 70.8 | 145.9 | 95.7 | 1,607.6 | (2,820.1 | ) | 444.3 | |||||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | — | (142.7 | ) | 129.5 | (13.2 | ) | ||||||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 431.0 | $ | 457.5 | $ | 455.9 | $ | 70.8 | $ | 145.9 | $ | 95.7 | $ | 1,464.9 | $ | (2,690.6 | ) | $ | 431.1 | ||||||||||||||||
Total comprehensive income (loss) | 110.0 | 135.1 | 455.8 | 71.1 | 144.2 | 95.6 | 1,268.3 | (2,160.8 | ) | 119.3 | |||||||||||||||||||||||||
Less: Total comprehensive (income) loss attributable to noncontrolling interests | — | — | — | — | — | — | (138.8 | ) | 129.5 | (9.3 | ) | ||||||||||||||||||||||||
Total comprehensive income (loss) attributable to Ingersoll-Rand plc | $ | 110.0 | $ | 135.1 | $ | 455.8 | $ | 71.1 | $ | 144.2 | $ | 95.6 | $ | 1,129.5 | $ | (2,031.3 | ) | $ | 110.0 |
In millions | IR Ireland | IR Limited | IR International | IR Global | IR New Jersey | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | |||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 250.4 | $ | 3,134.6 | $ | — | $ | 3,385.0 | |||||||||||||||
Cost of goods sold | — | — | — | — | (165.5 | ) | (2,161.5 | ) | — | (2,327.0 | ) | ||||||||||||||||||||
Selling and administrative expenses | (1.8 | ) | — | — | (0.1 | ) | (103.7 | ) | (512.4 | ) | — | (618.0 | ) | ||||||||||||||||||
Operating income (loss) | (1.8 | ) | — | — | (0.1 | ) | (18.8 | ) | 460.7 | — | 440.0 | ||||||||||||||||||||
Equity earnings (loss) in affiliates, net of tax | 297.5 | 298.9 | 301.9 | 140.6 | 217.3 | 437.6 | (1,693.8 | ) | — | ||||||||||||||||||||||
Interest expense | — | — | (4.0 | ) | (32.0 | ) | (12.1 | ) | (4.2 | ) | — | (52.3 | ) | ||||||||||||||||||
Intercompany interest and fees | (4.6 | ) | (0.8 | ) | (1.0 | ) | 0.1 | (60.7 | ) | 67.0 | — | — | |||||||||||||||||||
Other income/(expense), net | — | — | — | — | (0.4 | ) | 10.0 | — | 9.6 | ||||||||||||||||||||||
Earnings (loss) before income taxes | 291.1 | 298.1 | 296.9 | 108.6 | 125.3 | 971.1 | (1,693.8 | ) | 397.3 | ||||||||||||||||||||||
Benefit (provision) for income taxes | 0.2 | — | — | 11.6 | 25.2 | (131.1 | ) | — | (94.1 | ) | |||||||||||||||||||||
Earnings (loss) from continuing operations | 291.3 | 298.1 | 296.9 | 120.2 | 150.5 | 840.0 | (1,693.8 | ) | 303.2 | ||||||||||||||||||||||
Earnings (loss) from discontinued operations, net of tax | — | — | — | — | (9.6 | ) | 2.6 | — | (7.0 | ) | |||||||||||||||||||||
Net earnings | 291.3 | 298.1 | 296.9 | 120.2 | 140.9 | 842.6 | (1,693.8 | ) | 296.2 | ||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | (4.9 | ) | — | (4.9 | ) | |||||||||||||||||||||
Net earnings attributable to Ingersoll-Rand plc | $ | 291.3 | $ | 298.1 | $ | 296.9 | $ | 120.2 | $ | 140.9 | $ | 837.7 | $ | (1,693.8 | ) | $ | 291.3 | ||||||||||||||
Total comprehensive income | 75.1 | 81.8 | 297.2 | 120.3 | 144.5 | 620.8 | (1,261.4 | ) | 78.3 | ||||||||||||||||||||||
Less: Total comprehensive income attributable to noncontrolling interests | — | — | — | — | — | (3.2 | ) | — | (3.2 | ) | |||||||||||||||||||||
Total comprehensive income attributable to Ingersoll-Rand plc | $ | 75.1 | $ | 81.8 | $ | 297.2 | $ | 120.3 | $ | 144.5 | $ | 617.6 | $ | (1,261.4 | ) | $ | 75.1 |
In millions | IR Ireland | IR Limited | IR International | IR Global | IR New Jersey | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | |||||||||||||||||||||||
Net revenues | $ | — | $ | — | $ | — | $ | — | $ | 726.4 | $ | 8,924.5 | $ | — | $ | 9,650.9 | |||||||||||||||
Cost of goods sold | — | — | — | — | (450.9 | ) | (6,270.8 | ) | — | (6,721.7 | ) | ||||||||||||||||||||
Selling and administrative expenses | (24.6 | ) | — | — | (0.5 | ) | (299.3 | ) | (1,546.4 | ) | — | (1,870.8 | ) | ||||||||||||||||||
Operating income (loss) | (24.6 | ) | — | — | (0.5 | ) | (23.8 | ) | 1,107.3 | — | 1,058.4 | ||||||||||||||||||||
Equity earnings in affiliates, net of tax | 712.8 | 720.0 | 732.3 | 325.2 | 503.7 | 1,032.9 | (4,026.9 | ) | — | ||||||||||||||||||||||
Interest expense | — | — | (11.9 | ) | (95.9 | ) | (36.7 | ) | (12.8 | ) | — | (157.3 | ) | ||||||||||||||||||
Intercompany interest and fees | (12.7 | ) | (2.6 | ) | (8.8 | ) | (0.9 | ) | (147.7 | ) | 172.7 | — | — | ||||||||||||||||||
Other income/(expense), net | 0.2 | — | 3.3 | — | 13.5 | 3.2 | — | 20.2 | |||||||||||||||||||||||
Earnings (loss) before income taxes | 675.7 | 717.4 | 714.9 | 227.9 | 309.0 | 2,303.3 | (4,026.9 | ) | 921.3 | ||||||||||||||||||||||
Benefit (provision) for income taxes | 0.5 | (0.1 | ) | — | 31.1 | 44.1 | (298.1 | ) | — | (222.5 | ) | ||||||||||||||||||||
Earnings (loss) from continuing operations | 676.2 | 717.3 | 714.9 | 259.0 | 353.1 | 2,005.2 | (4,026.9 | ) | 698.8 | ||||||||||||||||||||||
Earnings (loss) from discontinued operations, net of tax | — | — | — | — | (34.8 | ) | 26.2 | — | (8.6 | ) | |||||||||||||||||||||
Net earnings (loss) | 676.2 | 717.3 | 714.9 | 259.0 | 318.3 | 2,031.4 | (4,026.9 | ) | 690.2 | ||||||||||||||||||||||
Less: Net earnings attributable to noncontrolling interests | — | — | — | — | — | (14.0 | ) | — | (14.0 | ) | |||||||||||||||||||||
Net earnings (loss) attributable to Ingersoll-Rand plc | $ | 676.2 | $ | 717.3 | $ | 714.9 | $ | 259.0 | $ | 318.3 | $ | 2,017.4 | $ | (4,026.9 | ) | $ | 676.2 | ||||||||||||||
Total comprehensive income (loss) | 429.2 | 477.6 | 715.8 | 259.3 | 379.3 | 1,650.4 | (3,468.9 | ) | 442.7 | ||||||||||||||||||||||
Less: Total comprehensive income attributable to noncontrolling interests | — | — | — | — | — | (13.5 | ) | — | (13.5 | ) | |||||||||||||||||||||
Total comprehensive income attributable to Ingersoll-Rand plc | $ | 429.2 | $ | 477.6 | $ | 715.8 | $ | 259.3 | $ | 379.3 | $ | 1,636.9 | $ | (3,468.9 | ) | $ | 429.2 |
In millions | IR Ireland | IR Limited | IR International | IR Global | IR New Jersey | IR Lux | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | ||||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | — | $ | — | $ | 10.4 | $ | 0.2 | $ | 660.0 | $ | (19.1 | ) | $ | 651.5 | ||||||||||||||||
Accounts and notes receivable, net | — | — | — | — | 179.8 | — | 2,162.6 | — | 2,342.4 | ||||||||||||||||||||||||||
Inventories | — | — | — | — | 212.6 | — | 1,365.3 | — | 1,577.9 | ||||||||||||||||||||||||||
Other current assets | 1.6 | — | — | 25.0 | 570.9 | — | 365.5 | — | 963.0 | ||||||||||||||||||||||||||
Accounts and notes receivable affiliates | 84.8 | 309.5 | 7,401.7 | 192.0 | 1,287.2 | 180.4 | 17,382.8 | (26,838.4 | ) | — | |||||||||||||||||||||||||
Total current assets | 86.4 | 309.5 | 7,401.7 | 217.0 | 2,260.9 | 180.6 | 21,936.2 | (26,857.5 | ) | 5,534.8 | |||||||||||||||||||||||||
Investment in affiliates | 9,959.3 | 13,051.1 | 4,325.8 | 9,478.4 | 15,227.1 | 1,927.9 | 6,029.3 | (59,998.9 | ) | — | |||||||||||||||||||||||||
Property, plant and equipment, net | — | — | — | — | 468.7 | — | 1,110.9 | — | 1,579.6 | ||||||||||||||||||||||||||
Goodwill and other intangible assets, net | — | — | — | — | 418.5 | — | 9,313.3 | — | 9,731.8 | ||||||||||||||||||||||||||
Other noncurrent assets | 0.2 | — | — | 216.6 | 793.6 | 8.9 | 642.1 | (683.5 | ) | 977.9 | |||||||||||||||||||||||||
Total assets | $ | 10,045.9 | $ | 13,360.6 | $ | 11,727.5 | $ | 9,912.0 | $ | 19,168.8 | $ | 2,117.4 | $ | 39,031.8 | $ | (87,539.9 | ) | $ | 17,824.1 | ||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||||||||
Accounts payable and accruals | $ | 7.0 | $ | — | $ | — | $ | 33.0 | $ | 951.6 | $ | 16.0 | $ | 2,710.5 | $ | (19.1 | ) | $ | 3,699.0 | ||||||||||||||||
Short-term borrowings and current maturities of long-term debt | — | — | — | — | 350.5 | 465.1 | 21.4 | — | 837.0 | ||||||||||||||||||||||||||
Accounts and note payable affiliates | 4,300.4 | 752.1 | — | 442.0 | 10,960.9 | 402.3 | 9,981.7 | (26,839.4 | ) | — | |||||||||||||||||||||||||
Total current liabilities | 4,307.4 | 752.1 | — | 475.0 | 12,263.0 | 883.4 | 12,713.6 | (26,858.5 | ) | 4,536.0 | |||||||||||||||||||||||||
Long-term debt | — | — | — | 2,296.3 | 342.1 | 1,095.4 | 0.8 | — | 3,734.6 | ||||||||||||||||||||||||||
Other noncurrent liabilities | — | — | 3.8 | 2.8 | 1,425.0 | — | 3,010.7 | (685.5 | ) | 3,756.8 | |||||||||||||||||||||||||
Total liabilities | 4,307.4 | 752.1 | 3.8 | 2,774.1 | 14,030.1 | 1,978.8 | 15,725.1 | (27,544.0 | ) | 12,027.4 | |||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||||||||
Total equity | 5,738.5 | 12,608.5 | 11,723.7 | 7,137.9 | 5,138.7 | 138.6 | 23,306.7 | (59,995.9 | ) | 5,796.7 | |||||||||||||||||||||||||
Total liabilities and equity | $ | 10,045.9 | $ | 13,360.6 | $ | 11,727.5 | $ | 9,912.0 | $ | 19,168.8 | $ | 2,117.4 | $ | 39,031.8 | $ | (87,539.9 | ) | $ | 17,824.1 |
In millions | IR Ireland | IR Limited | IR International | IR Global | IR New Jersey | IR Lux | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | ||||||||||||||||||||||||||
Current assets: | |||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | — | $ | — | $ | 425.4 | $ | — | $ | 1,279.8 | $ | — | $ | 1,705.2 | |||||||||||||||||
Accounts and notes receivable, net | — | — | — | — | 147.0 | — | 1,972.0 | — | 2,119.0 | ||||||||||||||||||||||||||
Inventories | — | — | — | — | 106.1 | — | 1,252.8 | — | 1,358.9 | ||||||||||||||||||||||||||
Other current assets | 0.1 | — | — | 31.0 | 126.9 | — | 366.8 | — | 524.8 | ||||||||||||||||||||||||||
Accounts and notes receivable affiliates | 48.6 | 309.5 | 8,227.0 | 306.0 | 4,788.2 | 50.7 | 21,832.6 | (35,562.6 | ) | — | |||||||||||||||||||||||||
Total current assets | 48.7 | 309.5 | 8,227.0 | 337.0 | 5,593.6 | 50.7 | 26,704.0 | (35,562.6 | ) | 5,707.9 | |||||||||||||||||||||||||
Investment in affiliates | 9,738.8 | 12,913.2 | 4,011.0 | 9,333.0 | 15,028.4 | 1,699.9 | 6,502.0 | (59,226.3 | ) | — | |||||||||||||||||||||||||
Property, plant and equipment, net | — | — | — | — | 324.7 | — | 1,152.3 | — | 1,477.0 | ||||||||||||||||||||||||||
Goodwill and other intangible assets, net | — | — | — | — | 66.6 | — | 9,107.1 | — | 9,173.7 | ||||||||||||||||||||||||||
Other noncurrent assets | 0.2 | — | — | 176.7 | 731.7 | 9.6 | 595.4 | (573.7 | ) | 939.9 | |||||||||||||||||||||||||
Total assets | $ | 9,787.7 | $ | 13,222.7 | $ | 12,238.0 | $ | 9,846.7 | $ | 21,745.0 | $ | 1,760.2 | $ | 44,060.8 | $ | (95,362.6 | ) | $ | 17,298.5 | ||||||||||||||||
Current liabilities: | |||||||||||||||||||||||||||||||||||
Accounts payable and accruals | $ | 7.9 | $ | — | $ | — | $ | 26.6 | $ | 495.8 | $ | 8.1 | $ | 2,645.0 | $ | — | $ | 3,183.4 | |||||||||||||||||
Short-term borrowings and current maturities of long-term debt | — | — | — | — | 350.5 | 100.0 | 32.2 | — | 482.7 | ||||||||||||||||||||||||||
Accounts and note payable affiliates | 3,792.4 | 749.2 | 966.4 | 441.3 | 14,779.8 | 514.1 | 14,319.5 | (35,562.7 | ) | — | |||||||||||||||||||||||||
Total current liabilities | 3,800.3 | 749.2 | 966.4 | 467.9 | 15,626.1 | 622.2 | 16,996.7 | (35,562.7 | ) | 3,666.1 | |||||||||||||||||||||||||
Long-term debt | — | — | — | 2,296.1 | 349.6 | 1,095.1 | 0.9 | — | 3,741.7 | ||||||||||||||||||||||||||
Other noncurrent liabilities | — | — | 3.8 | 2.7 | 1,471.6 | — | 2,940.9 | (573.7 | ) | 3,845.3 | |||||||||||||||||||||||||
Total liabilities | 3,800.3 | 749.2 | 970.2 | 2,766.7 | 17,447.3 | 1,717.3 | 19,938.5 | (36,136.4 | ) | 11,253.1 | |||||||||||||||||||||||||
Equity: | |||||||||||||||||||||||||||||||||||
Total equity | 5,987.4 | 12,473.5 | 11,267.8 | 7,080.0 | 4,297.7 | 42.9 | 24,122.3 | (59,226.2 | ) | 6,045.4 | |||||||||||||||||||||||||
Total liabilities and equity | $ | 9,787.7 | $ | 13,222.7 | $ | 12,238.0 | $ | 9,846.7 | $ | 21,745.0 | $ | 1,760.2 | $ | 44,060.8 | $ | (95,362.6 | ) | $ | 17,298.5 |
In millions | IR Ireland | IR Limited | IR International | IR Global | IR New Jersey | IR Lux | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | ||||||||||||||||||||||||||
Net cash provided by (used in) continuing operating activities | $ | (11.5 | ) | $ | — | $ | — | $ | (95.7 | ) | $ | (594.9 | ) | $ | (32.4 | ) | $ | 1,050.7 | $ | (36.0 | ) | $ | 280.2 | ||||||||||||
Net cash used in discontinued operating activities | — | — | — | — | (27.3 | ) | — | 0.1 | — | (27.2 | ) | ||||||||||||||||||||||||
Net cash provided by (used in) operating activities | (11.5 | ) | — | — | (95.7 | ) | (622.2 | ) | (32.4 | ) | 1,050.8 | (36.0 | ) | 253.0 | |||||||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||||||||||||
Capital expenditures | — | — | — | — | (94.7 | ) | — | (78.6 | ) | — | (173.3 | ) | |||||||||||||||||||||||
Acquisition of businesses, net of cash acquired | — | — | — | — | (448.1 | ) | — | (503.9 | ) | — | (952.0 | ) | |||||||||||||||||||||||
Proceeds from sale of property, plant and equipment | — | — | — | 0.1 | 0.2 | — | 14.5 | — | 14.8 | ||||||||||||||||||||||||||
Net cash used in continuing investing activities | — | — | — | 0.1 | (542.6 | ) | — | (568.0 | ) | — | (1,110.5 | ) | |||||||||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||||||||||||
Net proceeds (repayments) in debt | — | — | — | — | (7.5 | ) | 355.3 | (8.7 | ) | 339.1 | |||||||||||||||||||||||||
Net inter-company proceeds (payments) | 417.7 | — | — | 95.6 | 757.3 | (322.7 | ) | (947.9 | ) | — | |||||||||||||||||||||||||
Dividends paid to ordinary shareholders | (227.4 | ) | — | — | — | — | — | (16.9 | ) | 16.9 | (227.4 | ) | |||||||||||||||||||||||
Dividends paid to noncontrolling interests | — | — | — | — | — | — | (9.0 | ) | — | (9.0 | ) | ||||||||||||||||||||||||
Repurchase of ordinary shares | (233.4 | ) | — | — | — | — | — | — | (233.4 | ) | |||||||||||||||||||||||||
Other financing activities, net | 54.6 | — | — | — | — | — | — | 54.6 | |||||||||||||||||||||||||||
Net cash provided by (used in) continuing financing activities | 11.5 | — | — | 95.6 | 749.8 | 32.6 | (982.5 | ) | 16.9 | (76.1 | ) | ||||||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | — | — | — | (120.1 | ) | — | (120.1 | ) | ||||||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | — | — | — | (415.0 | ) | 0.2 | (619.8 | ) | (19.1 | ) | (1,053.7 | ) | ||||||||||||||||||||||
Cash and cash equivalents - beginning of period | — | — | — | — | 425.4 | — | 1,279.8 | — | 1,705.2 | ||||||||||||||||||||||||||
Cash and cash equivalents - end of period | $ | — | $ | — | $ | — | $ | — | $ | 10.4 | $ | 0.2 | $ | 660.0 | $ | (19.1 | ) | $ | 651.5 |
In millions | IR Ireland | IR Limited | IR International | IR Global | IR New Jersey | Other Subsidiaries | Consolidating Adjustments | IR Ireland Consolidated | |||||||||||||||||||||||
Net cash provided by (used in) continuing operating activities | $ | (24.3 | ) | $ | — | $ | (8.6 | ) | $ | (96.4 | ) | $ | 58.6 | $ | 1,555.6 | $ | (927.2 | ) | $ | 557.7 | |||||||||||
Net cash provided by (used in) discontinued operating activities | — | — | — | — | (74.4 | ) | 14.3 | — | (60.1 | ) | |||||||||||||||||||||
Net cash provided by (used in) operating activities | (24.3 | ) | — | (8.6 | ) | (96.4 | ) | (15.8 | ) | 1,569.9 | (927.2 | ) | 497.6 | ||||||||||||||||||
Cash flows from investing activities: | |||||||||||||||||||||||||||||||
Capital expenditures | — | — | — | — | (60.3 | ) | (90.4 | ) | — | (150.7 | ) | ||||||||||||||||||||
Acquisition of businesses, net of cash acquired | — | — | — | — | — | (9.3 | ) | — | (9.3 | ) | |||||||||||||||||||||
Proceeds from sale of property, plant and equipment | — | — | — | — | 1.5 | 5.1 | — | 6.6 | |||||||||||||||||||||||
Proceeds from business disposition, net of cash sold | — | — | — | — | — | 2.1 | — | 2.1 | |||||||||||||||||||||||
Dividends received from equity investment | — | — | — | — | — | 30.3 | — | 30.3 | |||||||||||||||||||||||
Net cash provided by (used in) continuing investing activities | — | — | — | — | (58.8 | ) | (62.2 | ) | — | (121.0 | ) | ||||||||||||||||||||
Cash flows from financing activities: | |||||||||||||||||||||||||||||||
Net proceeds (repayments) in debt | — | — | — | — | (7.5 | ) | 11.5 | — | 4.0 | ||||||||||||||||||||||
Net inter-company proceeds (payments) | 1,297.4 | — | 8.6 | (870.0 | ) | 757.4 | (1,193.4 | ) | — | — | |||||||||||||||||||||
Dividends paid to ordinary shareholders | (199.2 | ) | — | — | — | (734.1 | ) | (193.1 | ) | 927.2 | (199.2 | ) | |||||||||||||||||||
Dividends paid to noncontrolling interests | — | — | — | — | — | (16.3 | ) | — | (16.3 | ) | |||||||||||||||||||||
Proceeds from shares issued under incentive plans | 32.3 | — | — | — | — | — | — | 32.3 | |||||||||||||||||||||||
Repurchase of ordinary shares | (1,172.9 | ) | — | — | — | — | — | — | (1,172.9 | ) | |||||||||||||||||||||
Other financing activities, net | 66.7 | — | — | (2.6 | ) | — | — | — | 64.1 | ||||||||||||||||||||||
Net cash provided by (used in) continuing financing activities | 24.3 | — | 8.6 | (872.6 | ) | 15.8 | (1,391.3 | ) | 927.2 | (1,288.0 | ) | ||||||||||||||||||||
Effect of exchange rate changes on cash and cash equivalents | — | — | — | — | — | (89.1 | ) | — | (89.1 | ) | |||||||||||||||||||||
Net increase (decrease) in cash and cash equivalents | — | — | — | (969.0 | ) | (58.8 | ) | 27.3 | — | (1,000.5 | ) | ||||||||||||||||||||
Cash and cash equivalents - beginning of period | — | — | — | 975.3 | 59.6 | 902.3 | — | 1,937.2 | |||||||||||||||||||||||
Cash and cash equivalents - end of period | $ | — | $ | — | $ | — | $ | 6.3 | $ | 0.8 | $ | 929.6 | $ | — | $ | 936.7 |
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