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Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Cash flows from operating activities:      
Net earnings $ 950.4us-gaap_ProfitLoss $ 653.9us-gaap_ProfitLoss $ 1,044.0us-gaap_ProfitLoss
(Income) loss from discontinued operations, net of tax (34.7)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax (13.3)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax (252.0)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
Adjustments to arrive at net cash provided by (used in) operating activities:      
Depreciation and amortization 332.4us-gaap_DepreciationAmortizationAndAccretionNet 333.7us-gaap_DepreciationAmortizationAndAccretionNet 333.8us-gaap_DepreciationAmortizationAndAccretionNet
Deferred income taxes (23.4)us-gaap_DeferredIncomeTaxExpenseBenefit 29.4us-gaap_DeferredIncomeTaxExpenseBenefit (47.9)us-gaap_DeferredIncomeTaxExpenseBenefit
Other items (35.1)ir_OtherAdjustmentsForCashAndNoncashItemsIncludedInIncomeLossFromContinuingOperations 226.1ir_OtherAdjustmentsForCashAndNoncashItemsIncludedInIncomeLossFromContinuingOperations 140.9ir_OtherAdjustmentsForCashAndNoncashItemsIncludedInIncomeLossFromContinuingOperations
Changes in other assets and liabilities      
Accounts and notes receivable (119.9)us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable (214.3)us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable (34.2)us-gaap_IncreaseDecreaseInAccountsAndNotesReceivable
Inventories (230.0)us-gaap_IncreaseDecreaseInInventories (39.4)us-gaap_IncreaseDecreaseInInventories (25.3)us-gaap_IncreaseDecreaseInInventories
Other current and noncurrent assets 83.0us-gaap_IncreaseDecreaseInOtherOperatingAssets 68.3us-gaap_IncreaseDecreaseInOtherOperatingAssets (68.7)us-gaap_IncreaseDecreaseInOtherOperatingAssets
Accounts payable 157.2us-gaap_IncreaseDecreaseInAccountsPayable 141.0us-gaap_IncreaseDecreaseInAccountsPayable (12.5)us-gaap_IncreaseDecreaseInAccountsPayable
Other current and noncurrent liabilities (111.6)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities (357.2)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities (243.5)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Net cash (used in) provided by continuing operating activities 991.7us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 798.8us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations 882.5us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
Net cash (used in) provided by discontinued operating activities (18.5)us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations 292.7us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations 312.9us-gaap_CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
Net cash provided by (used in) operating activities 973.2us-gaap_NetCashProvidedByUsedInOperatingActivities 1,091.5us-gaap_NetCashProvidedByUsedInOperatingActivities 1,195.4us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash flows from investing activities:      
Capital expenditures (233.5)us-gaap_PaymentsToAcquireProductiveAssets (242.2)us-gaap_PaymentsToAcquireProductiveAssets (243.1)us-gaap_PaymentsToAcquireProductiveAssets
Acquisition of businesses, net of cash acquired (10.2)us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired 0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired 0us-gaap_PaymentsToAcquireBusinessesNetOfCashAcquired
Proceeds from sale of property, plant and equipment 14.4us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 24.3us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment 17.9us-gaap_ProceedsFromSaleOfPropertyPlantAndEquipment
Proceeds from business dispositions, net of cash sold 2.0us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested 4.7us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested 52.7us-gaap_ProceedsFromDivestitureOfBusinessesNetOfCashDivested
Dividends received from equity investments 30.3us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital 0us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital 44.3us-gaap_ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital
Net cash (used in) provided by continuing investing activities (197.0)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (213.2)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations (128.2)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
Net cash (used in) provided by discontinued investing activities 0us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations (2.2)us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations (18.3)us-gaap_CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
Net cash provided by (used in) investing activities (197.0)us-gaap_NetCashProvidedByUsedInInvestingActivities (215.4)us-gaap_NetCashProvidedByUsedInInvestingActivities (146.5)us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash flows from financing activities:      
Other short-term borrowings (net) 99.6us-gaap_ProceedsFromRepaymentsOfShortTermDebt 8.9us-gaap_ProceedsFromRepaymentsOfShortTermDebt 5.5us-gaap_ProceedsFromRepaymentsOfShortTermDebt
Proceeds from long-term debt 1,108.6us-gaap_ProceedsFromIssuanceOfLongTermDebt 1,547.8us-gaap_ProceedsFromIssuanceOfLongTermDebt 0us-gaap_ProceedsFromIssuanceOfLongTermDebt
Payments of long-term debt (508.0)us-gaap_RepaymentsOfLongTermDebt (1,265.0)us-gaap_RepaymentsOfLongTermDebt (418.9)us-gaap_RepaymentsOfLongTermDebt
Net proceeds (repayments) in debt 700.2us-gaap_ProceedsFromRepaymentsOfDebt 291.7us-gaap_ProceedsFromRepaymentsOfDebt (413.4)us-gaap_ProceedsFromRepaymentsOfDebt
Debt issuance costs (12.3)us-gaap_PaymentsOfDebtIssuanceCosts (13.2)us-gaap_PaymentsOfDebtIssuanceCosts (2.5)us-gaap_PaymentsOfDebtIssuanceCosts
Dividends paid to ordinary shareholders (264.7)us-gaap_PaymentsOfDividendsCommonStock (245.5)us-gaap_PaymentsOfDividendsCommonStock (192.4)us-gaap_PaymentsOfDividendsCommonStock
Dividends paid to noncontrolling interests (20.9)us-gaap_PaymentsOfDividendsMinorityInterest (12.4)us-gaap_PaymentsOfDividendsMinorityInterest (13.9)us-gaap_PaymentsOfDividendsMinorityInterest
Proceeds shares issued under incentive plans 113.1us-gaap_ProceedsFromStockOptionsExercised 272.5us-gaap_ProceedsFromStockOptionsExercised 172.5us-gaap_ProceedsFromStockOptionsExercised
Repurchase of ordinary shares (1,374.9)us-gaap_PaymentsForRepurchaseOfCommonStock (1,213.2)us-gaap_PaymentsForRepurchaseOfCommonStock (839.8)us-gaap_PaymentsForRepurchaseOfCommonStock
Transfer from Discontinued Operations 0ir_TransferFromDiscontinuedOperations 1,274.2ir_TransferFromDiscontinuedOperations 0ir_TransferFromDiscontinuedOperations
Other, net 0us-gaap_ProceedsFromPaymentsForOtherFinancingActivities 0us-gaap_ProceedsFromPaymentsForOtherFinancingActivities (6.2)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities
Net cash (used in) provided by continuing financing activities (859.5)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations 354.1us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations (1,295.7)us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
Cash Provided by (Used in) Financing Activities, Discontinued Operations 0us-gaap_CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations (7.5)us-gaap_CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations (8.2)us-gaap_CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations
Net Cash Provided by (Used in) Financing Activities (859.5)us-gaap_NetCashProvidedByUsedInFinancingActivities 346.6us-gaap_NetCashProvidedByUsedInFinancingActivities (1,303.9)us-gaap_NetCashProvidedByUsedInFinancingActivities
Effect of exchange rate changes on cash and cash equivalents (148.7)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents 6.1us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents (23.6)us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents
Net increase (decrease) in cash and cash equivalents (232.0)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease 1,228.8us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (278.6)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents - beginning of period 1,937.2us-gaap_CashAndCashEquivalentsAtCarryingValue 708.4us-gaap_CashAndCashEquivalentsAtCarryingValue 987.0us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents - end of period 1,705.2us-gaap_CashAndCashEquivalentsAtCarryingValue 1,937.2us-gaap_CashAndCashEquivalentsAtCarryingValue 708.4us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash paid during the year for:      
Interest, net of amounts capitalized 193.5us-gaap_InterestPaidNet 238.3us-gaap_InterestPaidNet 223.7us-gaap_InterestPaidNet
Income taxes, net of refunds $ 159.8us-gaap_IncomeTaxesPaidNet $ 162.3us-gaap_IncomeTaxesPaidNet $ 251.3us-gaap_IncomeTaxesPaidNet