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Guarantor Financial Information
 9 Months Ended
Sep. 30, 2016
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Guarantor Financial Information
Guarantor Financial Information
Ingersoll-Rand plc (Plc or Parent Company) and certain of its 100% directly or indirectly owned subsidiaries provide guarantees of public debt issued by other 100% directly or indirectly owned subsidiaries. The following condensed consolidating financial information is provided so that separate financial statements of these subsidiary issuer and guarantors are not required to be filed with the U.S. Securities and Exchange Commission.
The following table shows the Company’s guarantor relationships as of September 30, 2016:
Parent, issuer or guarantors
Notes issued
Notes guaranteed (3)
Ingersoll-Rand plc (Plc)
None
All registered notes and debentures
Ingersoll-Rand Irish Holdings Unlimited Company (Irish Holdings)
None
All notes issued by Global Holding and Lux Finance (4)
Ingersoll-Rand Lux International Holding Company S.à.r.l. (Lux International)
None
All notes issued by Global Holding and Lux Finance (1)
Ingersoll-Rand Global Holding Company Limited (Global Holding)
6.875% Senior notes due 2018(2)
2.875% Senior notes due 2019(2)
4.250% Senior notes due 2023(2)
5.750% Senior notes due 2043(2)
All notes issued by Lux Finance
Ingersoll-Rand Company (New Jersey)
9.000% Debentures due 2021
7.200% Debentures due 2016-2025
6.48% Debentures due 2025
Puttable debentures due 2027-2028
All notes issued by Global and Lux Finance
Ingersoll-Rand Luxembourg Finance S.A. (Lux Finance)
2.625% Notes due 2020
3.55% Notes due 2024
4.650% Notes due 2044
All notes and debentures issued by Global and New Jersey
(1) In the fourth quarter of 2015, Lux International was added as a guarantor of notes previously issued by Global Holding and Lux Finance
(2) In 2013, New Jersey was added as a co-obligor of notes previously issued by Global Holding
(3) All subsidiary issuers and guarantors provide irrevocable guarantees of borrowings, if any, made under revolving credit facilities
(4) In the second quarter of 2016, Irish Holdings was added as a guarantor of all notes issued by Global Holding and Lux Finance
Each subsidiary debt issuer and guarantor is owned 100% directly or indirectly by the Parent Company. Each guarantee is full and unconditional, and provided on a joint and several basis. There are no significant restrictions of the Parent Company, or any guarantor, to obtain funds from its subsidiaries, such as provisions in debt agreements that prohibit dividend payments, loans or advances to the parent by a subsidiary.
Basis of presentation
The following Condensed Consolidating Financial Statements present the financial position, results of operations and cash flows of each issuer or guarantor on a legal entity basis. The financial information for all periods has been presented based on the Company’s legal entity ownerships and guarantees outstanding at September 30, 2016. Assets and liabilities are attributed to each issuer and guarantor generally based on legal entity ownership. Investments in subsidiaries of the Parent Company, subsidiary guarantors and issuers represent the proportionate share of their subsidiaries’ net assets. Certain adjustments are needed to consolidate the Parent Company and its subsidiaries, including the elimination of investments in subsidiaries and related activity that occurs between entities in different columns. These adjustments are presented in the Consolidating Adjustments column. This basis of presentation is intended to comply with the specific reporting requirements for subsidiary issuers and guarantors, and is not intended to present the Company’s financial position or results of operations or cash flows for any other purpose.
Revisions of prior year financial information to reflect changes in guarantor subsidiaries
The Condensed Consolidated Financial Statements for the three and nine months ended September 30, 2015 and as of December 31, 2015 were revised for the following changes in the composition of issuer and guarantor subsidiaries that occurred during the second quarter of 2016:
•
Irish Holdings was added as a guarantor of all notes and debentures issued by Global Holding and Lux Finance;
•
International Holding transferred all of its remaining assets, including ownership of Lux International, to Irish Holdings and was dissolved; and,
•
An intercompany loan of $19.5 billion was made from Irish Holdings to Lux International and was subsequently reduced to $18.0 billion.
These transactions had no impact on the composition of the Company’s consolidated group and had no effect on the Consolidated Financial Statements for any period.
Revisions of prior year financial information to correct the presentation of intercompany activity
The Condensed Consolidating Statement of Comprehensive Income for the three and nine months ended September 30, 2015 and the Condensed Consolidating Statement of Cash Flows for the nine months ended September 30, 2015 were revised to correct the errors previously disclosed in the Company’s 2015 Form 10-K related to the presentation of certain intercompany activity. These adjustments had no impact on the Company’s Condensed Consolidated Statements. The Company assessed the materiality of these revisions on previously issued financial statements and concluded that the revisions were not material to the Consolidated Financial Statements taken as a whole.
In millions
Plc
 
Irish
Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
Net revenues
$
—

 
$
—

 
$
—

 
$
—

 
$
341.3

 
$
—

 
$
3,311.4

 
$
(84.9
)
 
$
3,567.8

Cost of goods sold
—

 
—

 
—

 
—

 
(229.4
)
 
—

 
(2,274.2
)
 
84.9

 
(2,418.7
)
Selling and administrative expenses
(3.8
)
 
—

 
—

 
(0.1
)
 
(6.8
)
 
(0.1
)
 
(634.6
)
 
—

 
(645.4
)
Operating income (loss)
(3.8
)
 
—

 
—

 
(0.1
)
 
105.1

 
(0.1
)
 
402.6

 
—

 
503.7

Equity earnings (loss) in subsidiaries, net of tax
400.3

 
397.5

 
376.2

 
257.3

 
231.6

 
20.4

 
—

 
(1,683.3
)
 
—

Interest expense
—

 
—

 
—

 
(31.8
)
 
(11.9
)
 
(10.4
)
 
(0.4
)
 
—

 
(54.5
)
Intercompany interest and fees
(19.6
)
 
—

 
(13.6
)
 
(42.6
)
 
(71.7
)
 
(2.0
)
 
149.5

 
—

 
—

Other income/(expense), net
—

 
—

 
—

 
—

 
(0.1
)
 
—

 
1.8

 
—

 
1.7

Earnings (loss) before income taxes
376.9

 
397.5

 
362.6

 
182.8

 
253.0

 
7.9

 
553.5

 
(1,683.3
)
 
450.9

Benefit (provision) for income taxes
0.5

 
—

 
5.1

 
27.0

 
(11.9
)
 
—

 
(103.9
)
 
—

 
(83.2
)
Earnings (loss) from continuing operations
377.4

 
397.5

 
367.7

 
209.8

 
241.1

 
7.9

 
449.6

 
(1,683.3
)
 
367.7

Discontinued operations, net of tax
—

 
—

 
—

 
—

 
16.1

 
—

 
(1.9
)
 
—

 
14.2

Net earnings (loss)
377.4

 
397.5

 
367.7

 
209.8

 
257.2

 
7.9

 
447.7

 
(1,683.3
)
 
381.9

Less: Net earnings attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(4.5
)
 
—

 
(4.5
)
Net earnings (loss) attributable to Ingersoll-Rand plc
$
377.4

 
$
397.5

 
$
367.7

 
$
209.8

 
$
257.2

 
$
7.9

 
$
443.2

 
$
(1,683.3
)
 
$
377.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
20.5

 
20.6

 
33.7

 
22.2

 
22.2

 
3.8

 
(46.9
)
 
(55.6
)
 
20.5

Comprehensive income (loss) attributable to Ingersoll-Rand plc
$
397.9

 
$
418.1

 
$
401.4

 
$
232.0

 
$
279.4

 
$
11.7

 
$
396.3

 
$
(1,738.9
)
 
$
397.9





















Condensed Consolidating Statement of Comprehensive Income
For the nine months ended September 30, 2016
In millions
Plc
 
Irish
Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
Net revenues
$
—

 
$
—

 
$
—

 
$
—

 
$
979.6

 
$
—

 
$
9,433.4

 
$
(262.9
)
 
$
10,150.1

Cost of goods sold
—

 
—

 
—

 
—

 
(716.3
)
 
—

 
(6,524.6
)
 
262.9

 
(6,978.0
)
Selling and administrative expenses
(10.6
)
 
—

 
(0.1
)
 
(0.1
)
 
(255.4
)
 
(0.4
)
 
(1,679.3
)
 
—

 
(1,945.9
)
Operating income (loss)
(10.6
)
 
—

 
(0.1
)
 
(0.1
)
 
7.9

 
(0.4
)
 
1,229.5

 
—

 
1,226.2

Equity earnings (loss) in subsidiaries, net of tax
1,337.8

 
1,323.3

 
1,247.9

 
545.5

 
684.6

 
112.8

 
—

 
(5,251.9
)
 
—

Interest expense
—

 
—

 
—

 
(95.5
)
 
(36.0
)
 
(32.6
)
 
(3.6
)
 
—

 
(167.7
)
Intercompany interest and fees
(51.1
)
 
—

 
(33.2
)
 
(121.4
)
 
(212.7
)
 
(5.0
)
 
423.4

 
—

 
—

Other income/(expense), net
0.1

 
—

 
—

 
—

 
(2.7
)
 
—

 
417.3

 
—

 
414.7

Earnings (loss) before income taxes
1,276.2

 
1,323.3

 
1,214.6

 
328.5

 
441.1

 
74.8

 
2,066.6

 
(5,251.9
)
 
1,473.2

Benefit (provision) for income taxes
1.2

 
—

 
5.1

 
78.9

 
70.9

 
—

 
(373.7
)
 
—

 
(217.6
)
Earnings (loss) from continuing operations
1,277.4

 
1,323.3

 
1,219.7

 
407.4

 
512.0

 
74.8

 
1,692.9

 
(5,251.9
)
 
1,255.6

Discontinued operations, net of tax
—

 
—

 
—

 
—

 
34.0

 
—

 
0.3

 
—

 
34.3

Net earnings (loss)
1,277.4

 
1,323.3

 
1,219.7

 
407.4

 
546.0

 
74.8

 
1,693.2

 
(5,251.9
)
 
1,289.9

Less: Net earnings attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(12.5
)
 
—

 
(12.5
)
Net earnings (loss) attributable to Ingersoll-Rand plc
$
1,277.4

 
$
1,323.3

 
$
1,219.7

 
$
407.4

 
$
546.0

 
$
74.8

 
$
1,680.7

 
$
(5,251.9
)
 
$
1,277.4

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
87.5

 
87.5

 
86.9

 
48.9

 
48.6

 
4.4

 
74.3

 
(350.6
)
 
87.5

Comprehensive income (loss) attributable to Ingersoll-Rand plc
$
1,364.9

 
$
1,410.8

 
$
1,306.6

 
$
456.3

 
$
594.6

 
$
79.2

 
$
1,755.0

 
$
(5,602.5
)
 
$
1,364.9

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

Consolidated
Net revenues
$
—

 
$
—

 
$
—

 
$
—

 
$
352.9

 
$
—

 
$
3,230.4

 
$
(96.4
)
 
$
3,486.9

Cost of goods sold
—

 
—

 
—

 
—

 
(249.7
)
 
—

 
(2,226.1
)
 
96.4

 
(2,379.4
)
Selling and administrative expenses
(3.7
)
 
—

 
—

 
—

 
(81.4
)
 
(0.1
)
 
(546.9
)
 
—

 
(632.1
)
Operating income (loss)
(3.7
)
 
—

 
—

 
—

 
21.8

 
(0.1
)
 
457.4

 
—

 
475.4

Equity earnings (loss) in subsidiaries, net of tax
311.3

 
310.6

 
266.1

 
190.3

 
258.5

 
13.1

 
—

 
(1,349.9
)
 
—

Interest expense
—

 
—

 
—

 
(31.8
)
 
(11.9
)
 
(11.1
)
 
(1.0
)
 
—

 
(55.8
)
Intercompany interest and fees
(7.2
)
 
(0.1
)
 
(8.2
)
 
(7.1
)
 
(66.6
)
 
(0.5
)
 
89.7

 
—

 
—

Other income/(expense), net
0.1

 
—

 
0.1

 
—

 
(7.4
)
 
—

 
19.4

 
—

 
12.2

Earnings (loss) before income taxes
300.5

 
310.5

 
258.0

 
151.4

 
194.4

 
1.4

 
565.5

 
(1,349.9
)
 
431.8

Benefit (provision) for income taxes
0.4

 
—

 
—

 
14.2

 
9.9

 
—

 
(138.3
)
 
—

 
(113.8
)
Earnings (loss) from continuing operations
300.9

 
310.5

 
258.0

 
165.6

 
204.3

 
1.4

 
427.2

 
(1,349.9
)
 
318.0

Discontinued operations, net of tax
—

 
—

 
—

 
—

 
(13.8
)
 
—

 
1.8

 
—

 
(12.0
)
Net earnings (loss)
300.9

 
310.5

 
258.0

 
165.6

 
190.5

 
1.4

 
429.0

 
(1,349.9
)
 
306.0

Less: Net earnings attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(5.1
)
 
—

 
(5.1
)
Net earnings (loss) attributable to Ingersoll-Rand plc
$
300.9

 
$
310.5

 
$
258.0

 
$
165.6

 
$
190.5

 
$
1.4

 
$
423.9

 
$
(1,349.9
)
 
$
300.9

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
(102.3
)
 
(103.4
)
 
(102.8
)
 
(94.0
)
 
(94.1
)
 
16.8

 
(128.5
)
 
506.0

 
(102.3
)
Comprehensive income (loss) attributable to Ingersoll-Rand plc
$
198.6

 
$
207.1

 
$
155.2

 
$
71.6

 
$
96.4

 
$
18.2

 
$
295.4

 
$
(843.9
)
 
$
198.6



















Condensed Consolidating Statement of Comprehensive Income
For the nine months ended September 30, 2015
in millions
Plc
 
Irish
Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
Net revenues
$
—

 
$
—

 
$
—

 
$
—

 
$
1,060.4

 
$
—

 
$
9,206.9

 
$
(292.4
)
 
$
9,974.9

Cost of goods sold
—

 
—

 
—

 
—

 
(757.6
)
 
—

 
(6,495.4
)
 
292.4

 
(6,960.6
)
Selling and administrative expenses
(12.6
)
 
—

 
—

 
—

 
(280.1
)
 
(0.5
)
 
(1,622.4
)
 
—

 
(1,915.6
)
Operating income (loss)
(12.6
)
 
—

 
—

 
—

 
22.7

 
(0.5
)
 
1,089.1

 
—

 
1,098.7

Equity earnings (loss) in subsidiaries, net of tax
460.1

 
457.3

 
350.4

 
147.2

 
566.5

 
33.6

 
—

 
(2,015.1
)
 
—

Interest expense
—

 
—

 
—

 
(95.7
)
 
(36.2
)
 
(31.9
)
 
(2.9
)
 
—

 
(166.7
)
Intercompany interest and fees
(19.0
)
 
(0.1
)
 
(18.7
)
 
(20.9
)
 
(193.8
)
 
(1.6
)
 
254.1

 
—

 
—

Other income/(expense), net
1.2

 
—

 
0.2

 
—

 
(6.0
)
 
—

 
12.4

 
—

 
7.8

Earnings (loss) before income taxes
429.7

 
457.2

 
331.9

 
30.6

 
353.2

 
(0.4
)
 
1,352.7

 
(2,015.1
)
 
939.8

Benefit (provision) for income taxes
1.4

 
—

 
—

 
42.4

 
(178.6
)
 
—

 
(337.3
)
 
—

 
(472.1
)
Earnings (loss) from continuing operations
431.1

 
457.2

 
331.9

 
73.0

 
174.6

 
(0.4
)
 
1,015.4

 
(2,015.1
)
 
467.7

Discontinued operations, net of tax
—

 
—

 
—

 
—

 
(27.3
)
 
—

 
3.9

 
—

 
(23.4
)
Net earnings (loss)
431.1

 
457.2

 
331.9

 
73.0

 
147.3

 
(0.4
)
 
1,019.3

 
(2,015.1
)
 
444.3

Less: Net earnings attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(13.2
)
 
—

 
(13.2
)
Net earnings (loss) attributable to Ingersoll-Rand plc
$
431.1

 
$
457.2

 
$
331.9

 
$
73.0

 
$
147.3

 
$
(0.4
)
 
$
1,006.1

 
$
(2,015.1
)
 
$
431.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
(321.1
)
 
(321.8
)
 
(295.8
)
 
(94.4
)
 
(94.7
)
 
(3.6
)
 
(295.8
)
 
1,106.1

 
(321.1
)
Comprehensive income (loss) attributable to Ingersoll-Rand plc
$
110.0

 
$
135.4

 
$
36.1

 
$
(21.4
)
 
$
52.6

 
$
(4.0
)
 
$
710.3

 
$
(909.0
)
 
$
110.0

Condensed Consolidating Balance Sheet
September 30, 2016
 
In millions
Plc
 
Irish
Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
—

 
$
0.1

 
$
—

 
$
541.3

 
$
0.1

 
$
963.1

 
$
—

 
$
1,504.6

Accounts and notes receivable, net
—

 
—

 
—

 
—

 
170.7

 
—

 
2,190.1

 
—

 
2,360.8

Inventories, net
—

 
—

 
—

 
—

 
202.2

 
—

 
1,353.8

 
—

 
1,556.0

Other current assets
0.2

 
—

 
5.4

 
10.4

 
105.3

 
—

 
201.6

 
(29.8
)
 
293.1

Intercompany receivables
201.3

 
—

 
5.5

 
340.6

 
244.7

 
—

 
16,754.2

 
(17,546.3
)
 
—

Total current assets
201.5


—


11.0


351.0


1,264.2


0.1


21,462.8


(17,576.1
)

5,714.5

Property, plant and equipment, net
—

 
—

 
—

 
—

 
454.1

 
—

 
1,094.8

 
—

 
1,548.9

Goodwill and other intangible assets, net
—

 
—

 
—

 
—

 
418.8

 
—

 
9,185.5

 
—

 
9,604.3

Other noncurrent assets
0.2

 
—

 
—

 
267.9

 
713.7

 
—

 
562.1

 
(691.7
)
 
852.2

Investments in consolidated subsidiaries
12,219.5

 
1,155.1

 
15,056.1

 
7,252.8

 
15,050.1

 
1,689.7

 
—

 
(52,423.3
)
 
—

Intercompany notes receivable
—

 
18,048.4

 
—

 
—

 
—

 
—

 
3,851.8

 
(21,900.2
)
 
—

Total assets
$
12,421.2


$
19,203.5


$
15,067.1


$
7,871.7


$
17,900.9


$
1,689.8


$
36,157.0


$
(92,591.3
)

$
17,719.9

LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
$
6.3

 
$
—

 
$
0.2

 
$
55.5

 
$
587.6

 
$
17.1

 
$
2,705.5

 
$
(29.8
)
 
$
3,342.4

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

 
—

 
—

 
—

 
350.4

 
—

 
10.6

 
—

 
361.0

Intercompany payables
5,650.8

 
—

 
4,029.2

 
1,064.9

 
6,060.9

 
670.7

 
70.1

 
(17,546.6
)
 
—

Total current liabilities
5,657.1


—


4,029.4


1,120.4


6,998.9


687.8


2,786.2


(17,576.4
)

3,703.4

Long-term debt
—

 
—

 
—

 
2,286.1

 
334.2

 
1,088.0

 
0.6

 
—

 
3,708.9

Other noncurrent liabilities
—

 
—

 
0.3

 
24.7

 
1,295.5

 
—

 
2,847.9

 
(691.9
)
 
3,476.5

Intercompany notes payable
—

 
—

 
18,048.4

 
1,817.2

 
2,034.6

 
—

 
—

 
(21,900.2
)
 
—

Total liabilities
5,657.1


—


22,078.1


5,248.4


10,663.2


1,775.8


5,634.7


(40,168.5
)

10,888.8

Equity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total equity
6,764.1

 
19,203.5

 
(7,011.0
)
 
2,623.3

 
7,237.7

 
(86.0
)
 
30,522.3

 
(52,422.8
)
 
6,831.1

Total liabilities and equity
$
12,421.2


$
19,203.5


$
15,067.1


$
7,871.7


$
17,900.9


$
1,689.8


$
36,157.0


$
(92,591.3
)

$
17,719.9

Condensed Consolidating Balance Sheet
December 31, 2015
 
In millions
Plc
 
Irish
Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
ASSETS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
—

 
$
—

 
$
11.4

 
$
—

 
$
0.1

 
$
725.3

 
$
—

 
$
736.8

Accounts and notes receivable, net
—

 
—

 
—

 
—

 
160.7

 
—

 
1,989.9

 
—

 
2,150.6

Inventories, net
—

 
—

 
—

 
—

 
192.0

 
—

 
1,218.7

 
—

 
1,410.7

Other current assets
0.1

 
—

 
—

 
6.4

 
83.3

 
—

 
237.5

 
(16.0
)
 
311.3

Intercompany receivables
136.8

 
—

 
3.3

 
102.2

 
1,413.4

 
—

 
35,404.3

 
(37,060.0
)
 
—

Total current assets
136.9

 
—

 
3.3

 
120.0

 
1,849.4

 
0.1

 
39,575.7

 
(37,076.0
)
 
4,609.4

Property, plant and equipment, net
—

 
—

 
—

 
—

 
463.0

 
—

 
1,112.1

 
—

 
1,575.1

Goodwill and other intangible assets, net
—

 
—

 
—

 
—

 
411.6

 
—

 
9,244.7

 
—

 
9,656.3

Other noncurrent assets
0.2

 
—

 
—

 
283.8

 
733.4

 
—

 
568.4

 
(709.0
)
 
876.8

Investments in consolidated subsidiaries
10,139.0

 
20,387.2

 
13,419.7

 
6,438.1

 
13,925.1

 
1,583.2

 
—

 
(65,892.3
)
 
—

Intercompany notes receivable
—

 
—

 
—

 
—

 
—

 
—

 
2,876.7

 
(2,876.7
)
 
—

Total assets
$
10,276.1

 
$
20,387.2

 
$
13,423.0

 
$
6,841.9

 
$
17,382.5

 
$
1,583.3

 
$
53,377.6

 
$
(106,554.0
)
 
$
16,717.6

LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
7.1

 
—

 
0.1

 
30.7

 
597.6

 
6.3

 
2,518.3

 
(15.9
)
 
3,144.2

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

 
—

 
—

 
—

 
350.4

 
143.0

 
10.8

 
—

 
504.2

Intercompany payables
4,452.3

 
143.6

 
23,529.0

 
1,997.8

 
5,858.1

 
745.5

 
334.0

 
(37,060.3
)
 
—

Total current liabilities
4,459.4

 
143.6

 
23,529.1

 
2,028.5

 
6,806.1

 
894.8

 
2,863.1

 
(37,076.2
)
 
3,648.4

Long-term debt
—

 
—

 
—

 
2,284.4

 
341.6

 
1,086.9

 
0.7

 
—

 
3,713.6

Other noncurrent liabilities
—

 
—

 
—

 
8.3

 
1,367.9

 
—

 
2,809.1

 
(708.9
)
 
3,476.4

Intercompany notes payable
—

 
—

 
—

 
429.0

 
2,447.7

 
—

 
—

 
(2,876.7
)
 
—

Total liabilities
4,459.4

 
143.6

 
23,529.1

 
4,750.2

 
10,963.3

 
1,981.7

 
5,672.9

 
(40,661.8
)
 
10,838.4

Equity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total equity
5,816.7

 
20,243.6

 
(10,106.1
)
 
2,091.7

 
6,419.2

 
(398.4
)
 
47,704.7

 
(65,892.2
)
 
5,879.2

Total liabilities and equity
$
10,276.1

 
$
20,387.2

 
$
13,423.0

 
$
6,841.9

 
$
17,382.5

 
$
1,583.3

 
$
53,377.6

 
$
(106,554.0
)
 
$
16,717.6

Condensed Consolidating Statement of Cash Flows
For the nine months ended September 30, 2016
 
in millions
Plc
 
Irish
Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash provided by (used in) continuing operating activities
$
(51.3
)
 
$
—

 
$
(11.4
)
 
$
(206.7
)
 
$
569.4

 
$
(20.8
)
 
$
729.1

 
$
—

 
$
1,008.3

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

 
—

 
—

 
—

 
99.5

 
—

 
(5.4
)
 
—

 
94.1

Net cash provided by (used in) operating activities
(51.3
)

—


(11.4
)

(206.7
)

668.9


(20.8
)

723.7


—


1,102.4

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
—

 
—

 
—

 
(56.3
)
 
—

 
(71.2
)
 
—

 
(127.5
)
Acquisition of businesses, net of cash acquired
—

 
—

 
—

 
—

 
(9.2
)
 
—

 
—

 
—

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

 
—

 
—

 
—

 
—

 
—

 
2.6

 
—

 
2.6

Proceeds from sale of Hussmann equity investment
—

 
—

 
—

 
—

 
—

 
—

 
422.5

 
—

 
422.5

Intercompany investing activities, net
(160.2
)
 
(19,535.7
)
 
(2.4
)
 
(242.8
)
 
65.7

 
243.7

 
(930.4
)
 
20,562.1

 
—

Net cash provided by (used in) investing activities
(160.2
)

(19,535.7
)

(2.4
)

(242.8
)

0.2


243.7


(576.5
)

20,562.1


288.4

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

 
—

 
—

 
—

 
(7.6
)
 
(143.0
)
 
—

 
—

 
(150.6
)
Debt issuance costs
—

 
—

 
—

 
(2.1
)
 
—

 
—

 
—

 
—

 
(2.1
)
Dividends paid to ordinary shareholders
(245.6
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(245.6
)
Dividends paid to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(13.8
)
 
—

 
(13.8
)
Repurchase of ordinary shares
(250.1
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(250.1
)
Other financing activities, net
30.6

 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
30.6

Intercompany financing activities, net
676.6

 
19,535.7

 
13.9

 
440.2

 
(120.2
)
 
(79.9
)
 
95.8

 
(20,562.1
)
 
—

Net cash provided by (used in) financing activities
211.5


19,535.7


13.9


438.1


(127.8
)

(222.9
)

82.0


(20,562.1
)

(631.6
)
Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
—

 
—

 
—

 
—

 
8.6

 
—

 
8.6

Net increase (decrease) in cash and cash equivalents
—


—


0.1


(11.4
)

541.3


—


237.8


—


767.8

Cash and cash equivalents - beginning of period
—

 
—

 
—

 
11.4

 
—

 
0.1

 
725.3

 
—

 
736.8

Cash and cash equivalents - end of period
$
—

 
$
—

 
$
0.1

 
$
—

 
$
541.3

 
$
0.1

 
$
963.1

 
$
—

 
$
1,504.6

Condensed Consolidating Statement of Cash Flows
For the nine months ended September 30, 2015

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

Consolidated
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net cash provided by (used in) continuing operating activities
$
(51.2
)
 
$
(1.2
)
 
$
(10.6
)
 
$
(93.1
)
 
$
(1,314.8
)
 
$
(14.2
)
 
$
1,765.3

 
$
—

 
$
280.2

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

 
—

 
—

 
—

 
(27.3
)
 
—

 
0.1

 
—

 
(27.2
)
Net cash provided by (used in) operating activities
(51.2
)
 
(1.2
)
 
(10.6
)
 
(93.1
)
 
(1,342.1
)
 
(14.2
)
 
1,765.4

 
—

 
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

Intercompany investing activities, net
—

 
3.5

 
73.4

 
259.9

 
55.8

 
(228.0
)
 
(1,522.5
)
 
1,357.9

 
—

Net cash provided by (used in) investing activities
—

 
3.5

 
73.4

 
260.0

 
(486.8
)
 
(228.0
)
 
(2,090.5
)
 
1,357.9

 
(1,110.5
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net proceeds (repayments) in debt
—

 
—

 
—

 
—

 
(7.5
)
 
355.3

 
(8.7
)
 
—

 
339.1

Dividends paid to ordinary shareholders
(227.4
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(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

Intercompany financing activities, net
457.4

 
(2.3
)
 
(63.9
)
 
(166.9
)
 
1,411.0

 
(112.9
)
 
(164.5
)
 
(1,357.9
)
 
—

Net cash provided by (used in) financing activities
51.2

 
(2.3
)
 
(63.9
)
 
(166.9
)
 
1,403.5

 
242.4

 
(182.2
)
 
(1,357.9
)
 
(76.1
)
Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
—

 
—

 
—

 
—

 
(120.1
)
 
—

 
(120.1
)
Net increase (decrease) in cash and cash equivalents
—

 
—

 
(1.1
)
 
—

 
(425.4
)
 
0.2

 
(627.4
)
 
—

 
(1,053.7
)
Cash and cash equivalents - beginning of period
—

 
—

 
1.1

 
—

 
425.4

 
—

 
1,278.7

 
—

 
1,705.2

Cash and cash equivalents - end of period
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
0.2

 
$
651.3

 
$
—

 
$
651.5