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Guarantor Financial Information
 9 Months Ended
Sep. 30, 2019
Condensed Financial Information 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, 2019:
Parent, issuer or guarantors
Notes issued
Notes guaranteed (1)
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
Ingersoll-Rand Lux International Holding Company S.à.r.l. (Lux International)
None
All notes issued by Global Holding and Lux Finance
Ingersoll-Rand Global Holding Company Limited (Global Holding)
2.900% Senior notes due 2021
4.250% Senior notes due 2023
3.750% Senior notes due 2028
5.750% Senior notes due 2043
4.300% Senior notes due 2048
All notes issued by Lux Finance
Ingersoll-Rand Company (New Jersey)
9.000% Debentures due 2021
7.200% Debentures due 2020-2025
6.480% Debentures due 2025
Puttable debentures due 2027-2028
All notes issued by Global Holding and Lux Finance
Ingersoll-Rand Luxembourg Finance S.A. (Lux Finance)
2.625% Notes due 2020
3.550% Notes due 2024
3.500% Notes due 2026
3.800% Notes due 2029
4.650% Notes due 2044
4.500% Notes due 2049
All notes and debentures issued by Global Holding and New Jersey

(1) All subsidiary issuers and all guarantors provide irrevocable guarantees of borrowings, if any, made under revolving credit facilities.
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, 2019. 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.
Condensed Consolidating Statement of Comprehensive Income
For the three months ended September 30, 2019
In millions
Plc
 
Irish
Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
Net revenues
$
—

 
$
—

 
$
—

 
$
—

 
$
320.0

 
$
—

 
$
4,110.0

 
$
(85.7
)
 
$
4,344.3

Cost of goods sold
—

 
—

 
—

 
—

 
(236.8
)
 
—

 
(2,784.7
)
 
85.7

 
(2,935.8
)
Selling and administrative expenses
8.6

 
—

 
(0.1
)
 
(0.1
)
 
(140.4
)
 
(0.1
)
 
(653.2
)
 
—

 
(785.3
)
Operating income (loss)
8.6

 
—

 
(0.1
)
 
(0.1
)
 
(57.2
)
 
(0.1
)
 
672.1

 
—

 
623.2

Equity earnings (loss) in subsidiaries, net of tax
481.7

 
481.2

 
373.6

 
408.1

 
394.2

 
47.3

 
—

 
(2,186.1
)
 
—

Interest expense
—

 
—

 
0.1

 
(26.7
)
 
(11.4
)
 
(25.8
)
 
(0.3
)
 
—

 
(64.1
)
Intercompany interest and fees
(30.9
)
 
—

 
24.1

 
(81.8
)
 
47.9

 
9.8

 
30.9

 
—

 
—

Other income/(expense), net
—

 
—

 
0.2

 
—

 
(3.0
)
 
0.2

 
(4.6
)
 
—

 
(7.2
)
Earnings (loss) before income taxes
459.4

 
481.2

 
397.9

 
299.5

 
370.5

 
31.4

 
698.1

 
(2,186.1
)
 
551.9

Benefit (provision) for income taxes
(0.6
)
 
—

 
—

 
25.9

 
5.2

 
—

 
(143.4
)
 
—

 
(112.9
)
Earnings (loss) from continuing operations
458.8

 
481.2

 
397.9

 
325.4

 
375.7

 
31.4

 
554.7

 
(2,186.1
)
 
439.0

Discontinued operations, net of tax
—

 
—

 
—

 
—

 
24.3

 
—

 
0.1

 
—

 
24.4

Net earnings (loss)
458.8

 
481.2

 
397.9

 
325.4

 
400.0

 
31.4

 
554.8

 
(2,186.1
)
 
463.4

Less: Net earnings attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(4.6
)
 
—

 
(4.6
)
Net earnings (loss) attributable to Ingersoll-Rand plc
$
458.8

 
$
481.2

 
$
397.9

 
$
325.4

 
$
400.0

 
$
31.4

 
$
550.2

 
$
(2,186.1
)
 
$
458.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
(130.6
)
 
(130.1
)
 
(124.7
)
 
(99.0
)
 
(98.7
)
 
(23.2
)
 
(134.7
)
 
610.4

 
(130.6
)
Comprehensive income (loss) attributable to Ingersoll-Rand plc
$
328.2

 
$
351.1

 
$
273.2

 
$
226.4

 
$
301.3

 
$
8.2

 
$
415.5

 
$
(1,575.7
)
 
$
328.2


Condensed Consolidating Statement of Comprehensive Income
For the nine months ended September 30, 2019
In millions
Plc
 
Irish
Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
Net revenues
$
—

 
$
—

 
$
—

 
$
—

 
$
973.3

 
$
—

 
$
11,735.9

 
$
(261.2
)
 
$
12,448.0

Cost of goods sold
—

 
—

 
—

 
—

 
(734.8
)
 
—

 
(8,073.6
)
 
261.2

 
(8,547.2
)
Selling and administrative expenses
(10.1
)
 
—

 
(0.5
)
 
(0.2
)
 
(376.3
)
 
(0.2
)
 
(1,921.3
)
 
—

 
(2,308.6
)
Operating income (loss)
(10.1
)
 
—

 
(0.5
)
 
(0.2
)
 
(137.8
)
 
(0.2
)
 
1,741.0

 
—

 
1,592.2

Equity earnings (loss) in subsidiaries, net of tax
1,210.8

 
1,210.0

 
932.2

 
977.4

 
986.9

 
166.1

 
—

 
(5,483.4
)
 
—

Interest expense
—

 
—

 
0.1

 
(80.0
)
 
(34.6
)
 
(64.7
)
 
(0.5
)
 
—

 
(179.7
)
Intercompany interest and fees
(91.5
)
 
—

 
49.2

 
(214.9
)
 
120.8

 
18.7

 
117.7

 
—

 
—

Other income/(expense), net
—

 
—

 
59.4

 
—

 
(14.2
)
 
4.3

 
(72.1
)
 
—

 
(22.6
)
Earnings (loss) before income taxes
1,109.2

 
1,210.0

 
1,040.4

 
682.3

 
921.1

 
124.2

 
1,786.1

 
(5,483.4
)
 
1,389.9

Benefit (provision) for income taxes
5.6

 
—

 
—

 
67.7

 
33.6

 
—

 
(386.1
)
 
—

 
(279.2
)
Earnings (loss) from continuing operations
1,114.8

 
1,210.0

 
1,040.4

 
750.0

 
954.7

 
124.2

 
1,400.0

 
(5,483.4
)
 
1,110.7

Discontinued operations, net of tax
—

 
—

 
—

 
—

 
12.3

 
—

 
4.4

 
—

 
16.7

Net earnings (loss)
1,114.8

 
1,210.0

 
1,040.4

 
750.0

 
967.0

 
124.2

 
1,404.4

 
(5,483.4
)
 
1,127.4

Less: Net earnings attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(12.6
)
 
—

 
(12.6
)
Net earnings (loss) attributable to Ingersoll-Rand plc
$
1,114.8

 
$
1,210.0

 
$
1,040.4

 
$
750.0

 
$
967.0

 
$
124.2

 
$
1,391.8

 
$
(5,483.4
)
 
$
1,114.8

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
(105.7
)
 
(105.2
)
 
(101.6
)
 
(81.3
)
 
(80.7
)
 
(17.9
)
 
(120.6
)
 
507.3

 
(105.7
)
Comprehensive income (loss) attributable to Ingersoll-Rand plc
$
1,009.1

 
$
1,104.8

 
$
938.8

 
$
668.7

 
$
886.3

 
$
106.3

 
$
1,271.2

 
$
(4,976.1
)
 
$
1,009.1


Condensed Consolidating Statement of Comprehensive Income
For the three months ended September 30, 2018
In millions
Plc
 
Irish
Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
Net revenues
$
—

 
$
—

 
$
—

 
$
—

 
$
345.7

 
$
—

 
$
3,785.3

 
$
(100.1
)
 
$
4,030.9

Cost of goods sold
—

 
—

 
—

 
—

 
(252.0
)
 
—

 
(2,566.4
)
 
100.1

 
(2,718.3
)
Selling and administrative expenses
(1.2
)
 
—

 
(0.2
)
 
(0.1
)
 
(120.5
)
 
(0.3
)
 
(603.3
)
 
—

 
(725.6
)
Operating income (loss)
(1.2
)
 
—

 
(0.2
)
 
(0.1
)
 
(26.8
)
 
(0.3
)
 
615.6

 
—

 
587.0

Equity earnings (loss) in subsidiaries, net of tax
528.0

 
527.3

 
435.1

 
427.4

 
404.8

 
67.5

 
—

 
(2,390.1
)
 
—

Interest expense
—

 
—

 
0.1

 
(26.7
)
 
(11.5
)
 
(10.3
)
 
(0.1
)
 
—

 
(48.5
)
Intercompany interest and fees
(11.9
)
 
—

 
11.6

 
(58.8
)
 
8.8

 
(3.8
)
 
54.1

 
—

 
—

Other income/(expense), net
—

 
—

 
0.1

 
—

 
(3.5
)
 
—

 
(5.1
)
 
—

 
(8.5
)
Earnings (loss) before income taxes
514.9

 
527.3

 
446.7

 
341.8

 
371.8

 
53.1

 
664.5

 
(2,390.1
)
 
530.0

Benefit (provision) for income taxes
0.2

 
—

 
—

 
19.6

 
67.8

 
—

 
(86.5
)
 
—

 
1.1

Earnings (loss) from continuing operations
515.1

 
527.3

 
446.7

 
361.4

 
439.6

 
53.1

 
578.0

 
(2,390.1
)
 
531.1

Discontinued operations, net of tax
—

 
—

 
—

 
—

 
(12.2
)
 
—

 
0.5

 
—

 
(11.7
)
Net earnings (loss)
515.1

 
527.3

 
446.7

 
361.4

 
427.4

 
53.1

 
578.5

 
(2,390.1
)
 
519.4

Less: Net earnings attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(4.3
)
 
—

 
(4.3
)
Net earnings (loss) attributable to Ingersoll-Rand plc
$
515.1

 
$
527.3

 
$
446.7

 
$
361.4

 
$
427.4

 
$
53.1

 
$
574.2

 
$
(2,390.1
)
 
$
515.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
(15.2
)
 
(15.2
)
 
12.3

 
6.3

 
6.5

 
6.9

 
(20.6
)
 
3.8

 
(15.2
)
Comprehensive income (loss) attributable to Ingersoll-Rand plc
$
499.9

 
$
512.1

 
$
459.0

 
$
367.7

 
$
433.9

 
$
60.0

 
$
553.6

 
$
(2,386.3
)
 
$
499.9

Condensed Consolidating Statement of Comprehensive Income
For the nine months ended September 30, 2018
in millions
Plc
 
Irish
Holdings
 
Lux International
 
Global
Holding
 
New
Jersey
 
Lux
Finance
 
Other
Subsidiaries
 
Consolidating
Adjustments
 

Consolidated
Net revenues
$
—

 
$
—

 
$
—

 
$
—

 
$
1,038.4

 
$
—

 
$
11,037.4

 
$
(302.7
)
 
$
11,773.1

Cost of goods sold
—

 
—

 
—

 
—

 
(758.0
)
 
—

 
(7,647.3
)
 
302.7

 
(8,102.6
)
Selling and administrative expenses
(7.4
)
 
—

 
(0.3
)
 
(0.2
)
 
(383.1
)
 
(0.2
)
 
(1,808.6
)
 
—

 
(2,199.8
)
Operating income (loss)
(7.4
)
 
—

 
(0.3
)
 
(0.2
)
 
(102.7
)
 
(0.2
)
 
1,581.5

 
—

 
1,470.7

Equity earnings (loss) in subsidiaries, net of tax
1,113.0

 
1,111.8

 
914.1

 
918.4

 
969.5

 
156.1

 
—

 
(5,182.9
)
 
—

Interest expense
—

 
—

 
0.1

 
(103.7
)
 
(35.1
)
 
(32.7
)
 
(0.3
)
 
—

 
(171.7
)
Intercompany interest and fees
(21.4
)
 
—

 
30.0

 
(137.1
)
 
24.1

 
(7.4
)
 
111.8

 
—

 
—

Other income/(expense), net
—

 
—

 
(0.1
)
 
0.7

 
(11.6
)
 
0.1

 
(5.1
)
 
—

 
(16.0
)
Earnings (loss) before income taxes
1,084.2

 
1,111.8

 
943.8

 
678.1

 
844.2

 
115.9

 
1,687.9

 
(5,182.9
)
 
1,283.0

Benefit (provision) for income taxes
(0.6
)
 
—

 
—

 
55.1

 
103.0

 
—

 
(317.4
)
 
—

 
(159.9
)
Earnings (loss) from continuing operations
1,083.6

 
1,111.8

 
943.8

 
733.2

 
947.2

 
115.9

 
1,370.5

 
(5,182.9
)
 
1,123.1

Discontinued operations, net of tax
—

 
—

 
—

 
—

 
(29.0
)
 
—

 
2.0

 
—

 
(27.0
)
Net earnings (loss)
1,083.6

 
1,111.8

 
943.8

 
733.2

 
918.2

 
115.9

 
1,372.5

 
(5,182.9
)
 
1,096.1

Less: Net earnings attributable to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(12.5
)
 
—

 
(12.5
)
Net earnings (loss) attributable to Ingersoll-Rand plc
$
1,083.6

 
$
1,111.8

 
$
943.8

 
$
733.2

 
$
918.2

 
$
115.9

 
$
1,360.0

 
$
(5,182.9
)
 
$
1,083.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Other comprehensive income (loss), net of tax
(141.0
)
 
(140.6
)
 
(109.8
)
 
(59.7
)
 
(59.9
)
 
(46.4
)
 
(158.2
)
 
574.6

 
(141.0
)
Comprehensive income (loss) attributable to Ingersoll-Rand plc
$
942.6

 
$
971.2

 
$
834.0

 
$
673.5

 
$
858.3

 
$
69.5

 
$
1,201.8

 
$
(4,608.3
)
 
$
942.6


Condensed Consolidating Balance Sheet
September 30, 2019
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

 
$
—

 
$
—

 
$
—

 
$
26.0

 
$
804.8

 
$
—

 
$
830.9

Accounts and notes receivable, net
—

 
—

 
0.2

 
—

 
166.4

 
—

 
2,802.3

 
—

 
2,968.9

Inventories
—

 
—

 
—

 
—

 
155.9

 
—

 
1,734.7

 
—

 
1,890.6

Other current assets
6.0

 
—

 
2.4

 
7.6

 
120.9

 
—

 
275.8

 
—

 
412.7

Intercompany receivables
31.6

 
—

 
166.9

 
—

 
4,683.7

 
1,464.9

 
6,227.7

 
(12,574.8
)
 
—

Total current assets
37.6


0.1


169.5


7.6


5,126.9


1,490.9


11,845.3


(12,574.8
)

6,103.1

Property, plant and equipment, net
—

 
—

 
0.1

 
—

 
281.6

 
—

 
1,497.4

 
—

 
1,779.1

Goodwill and other intangible assets, net
—

 
—

 
—

 
—

 
425.7

 
—

 
10,461.5

 
—

 
10,887.2

Other noncurrent assets
—

 
—

 
8.2

 
181.1

 
815.5

 
—

 
938.0

 
(405.3
)
 
1,537.5

Investments in consolidated subsidiaries
10,309.5

 
10,268.6

 
4,772.7

 
14,150.2

 
11,193.5

 
1,390.1

 
—

 
(52,084.6
)
 
—

Intercompany notes receivable
—

 
—

 
2,781.9

 
—

 
—

 
—

 
2,249.7

 
(5,031.6
)
 
—

Total assets
$
10,347.1


$
10,268.7


$
7,732.4


$
14,338.9


$
17,843.2


$
2,881.0


$
26,991.9


$
(70,096.3
)

$
20,306.9

LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
$
9.5

 
$
—

 
$
—

 
$
47.8

 
$
691.5

 
$
18.6

 
$
3,358.2

 
$
—

 
$
4,125.6

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

 
—

 
—

 
—

 
350.4

 
299.7

 
0.4

 
—

 
650.5

Intercompany payables
3,100.0

 
—

 
3,019.8

 
3,816.4

 
2,556.7

 
34.5

 
47.4

 
(12,574.8
)
 
—

Total current liabilities
3,109.5


—


3,019.8


3,864.2


3,598.6


352.8


3,406.0


(12,574.8
)

4,776.1

Long-term debt
—

 
—

 
—

 
2,331.8

 
312.1

 
2,277.9

 
0.1

 
—

 
4,921.9

Other noncurrent liabilities
—

 
—

 
—

 
—

 
1,281.9

 
—

 
2,453.2

 
(405.3
)
 
3,329.8

Intercompany notes payable
—

 
—

 
—

 
3,699.7

 
—

 
—

 
1,331.9

 
(5,031.6
)
 
—

Total liabilities
3,109.5


—


3,019.8


9,895.7


5,192.6


2,630.7


7,191.2


(18,011.7
)

13,027.8

Equity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total equity
7,237.6

 
10,268.7

 
4,712.6

 
4,443.2

 
12,650.6

 
250.3

 
19,800.7

 
(52,084.6
)
 
7,279.1

Total liabilities and equity
$
10,347.1


$
10,268.7


$
7,732.4


$
14,338.9


$
17,843.2


$
2,881.0


$
26,991.9


$
(70,096.3
)

$
20,306.9


Condensed Consolidating Balance Sheet
December 31, 2018
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

 
$
0.2

 
$
—

 
$
363.5

 
$
—

 
$
539.6

 
$
—

 
$
903.4

Accounts and notes receivable, net
—

 
—

 
0.1

 
—

 
183.4

 
—

 
2,495.7

 
—

 
2,679.2

Inventories
—

 
—

 
—

 
—

 
146.6

 
—

 
1,531.2

 
—

 
1,677.8

Other current assets
0.2

 
—

 
7.8

 
—

 
101.0

 
—

 
363.4

 
(0.8
)
 
471.6

Intercompany receivables
59.5

 
—

 
3.9

 
—

 
3,851.0

 
0.1

 
3,838.0

 
(7,752.5
)
 
—

Total current assets
59.7

 
0.1

 
12.0

 
—

 
4,645.5

 
0.1

 
8,767.9

 
(7,753.3
)
 
5,732.0

Property, plant and equipment, net
—

 
—

 
0.1

 
—

 
314.6

 
—

 
1,416.1

 
—

 
1,730.8

Goodwill and other intangible assets, net
—

 
—

 
—

 
—

 
432.1

 
—

 
9,162.1

 
—

 
9,594.2

Other noncurrent assets
—

 
—

 
8.0

 
180.0

 
498.1

 
—

 
610.6

 
(438.8
)
 
857.9

Investments in consolidated subsidiaries
9,308.9

 
9,267.8

 
3,935.4

 
11,743.2

 
9,923.2

 
1,264.2

 
—

 
(45,442.7
)
 
—

Intercompany notes receivable
—

 
—

 
—

 
—

 
—

 
—

 
2,249.7

 
(2,249.7
)
 
—

Total assets
$
9,368.6

 
$
9,267.9

 
$
3,955.5

 
$
11,923.2

 
$
15,813.5

 
$
1,264.3

 
$
22,206.4

 
$
(55,884.5
)
 
$
17,914.9

LIABILITIES AND EQUITY
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Current liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Accounts payable and accrued expenses
$
11.3

 
$
—

 
$
0.1

 
$
41.7

 
$
599.6

 
$
6.9

 
$
3,306.3

 
$
(0.8
)
 
$
3,965.1

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

 
—

 
—

 
—

 
350.4

 
—

 
0.2

 
—

 
350.6

Intercompany payables
2,334.6

 
—

 
132.9

 
3,518.7

 
1,700.9

 
0.2

 
65.2

 
(7,752.5
)
 
—

Total current liabilities
2,345.9

 
—

 
133.0

 
3,560.4

 
2,650.9

 
7.1

 
3,371.7

 
(7,753.3
)
 
4,315.7

Long-term debt
—

 
—

 
—

 
2,330.0

 
319.5

 
1,091.0

 
0.2

 
—

 
3,740.7

Other noncurrent liabilities
—

 
—

 
—

 
5.5

 
1,100.5

 
—

 
2,126.5

 
(438.8
)
 
2,793.7

Intercompany notes payable
—

 
—

 
—

 
2,249.7

 
—

 
—

 
—

 
(2,249.7
)
 
—

Total liabilities
2,345.9

 
—

 
133.0

 
8,145.6

 
4,070.9

 
1,098.1

 
5,498.4

 
(10,441.8
)
 
10,850.1

Equity:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total equity
7,022.7

 
9,267.9

 
3,822.5

 
3,777.6

 
11,742.6

 
166.2

 
16,708.0

 
(45,442.7
)
 
7,064.8

Total liabilities and equity
$
9,368.6

 
$
9,267.9

 
$
3,955.5

 
$
11,923.2

 
$
15,813.5

 
$
1,264.3

 
$
22,206.4

 
$
(55,884.5
)
 
$
17,914.9


Condensed Consolidating Statement of Cash Flows
For the nine months ended September 30, 2019
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
$
64.4

 
$
—

 
$
50.7

 
$
(188.8
)
 
$
848.6

 
$
(46.8
)
 
$
361.7

 
$
—

 
$
1,089.8

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

 
—

 
—

 
—

 
(41.1
)
 
—

 
4.4

 
—

 
(36.7
)
Net cash provided by (used in) operating activities
64.4


—


50.7


(188.8
)

807.5


(46.8
)

366.1


—


1,053.1

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
—

 
—

 
—

 
(18.5
)
 
—

 
(167.7
)
 
—

 
(186.2
)
Acquisitions and equity method investments, net of cash acquired
—

 
—

 
(58.4
)
 
(1,446.3
)
 
—

 
—

 
(32.1
)
 
—

 
(1,536.8
)
Other investing activities, net
—

 
—

 
—

 
—

 
1.0

 
—

 
8.0

 
—

 
9.0

Intercompany investing activities, net
0.3

 
—

 
(1,559.1
)
 
—

 
(664.0
)
 
(1,450.0
)
 
391.0

 
3,281.8

 
—

Net cash provided by (used in) continuing investing activities
0.3


—


(1,617.5
)

(1,446.3
)

(681.5
)

(1,450.0
)

199.2


3,281.8


(1,714.0
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net proceeds from (payments of) debt
—

 
—

 
—

 
—

 
(7.5
)
 
1,497.9

 
—

 
—

 
1,490.4

Debt issuance costs
—

 
—

 
—

 
—

 
(0.2
)
 
(12.7
)
 
—

 
—

 
(12.9
)
Dividends paid to ordinary shareholders
(383.1
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(383.1
)
Dividends paid to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(14.3
)
 
—

 
(14.3
)
Repurchase of ordinary shares
(500.1
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(500.1
)
Other financing activities, net
36.5

 
—

 
—

 
—

 
(1.1
)
 
—

 
(0.8
)
 
—

 
34.6

Intercompany financing activities, net
782.0

 
—

 
1,566.6

 
1,635.1

 
(480.7
)
 
37.6

 
(258.8
)
 
(3,281.8
)
 
—

Net cash provided by (used in) continuing financing activities
(64.7
)

—


1,566.6


1,635.1


(489.5
)

1,522.8


(273.9
)

(3,281.8
)

614.6

Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
—

 
—

 
—

 
—

 
(26.2
)
 
—

 
(26.2
)
Net increase (decrease) in cash and cash equivalents
—


—


(0.2
)

—


(363.5
)

26.0


265.2


—


(72.5
)
Cash and cash equivalents - beginning of period
—

 
0.1

 
0.2

 
—

 
363.5

 
—

 
539.6

 
—

 
903.4

Cash and cash equivalents - end of period
$
—

 
$
0.1

 
$
—

 
$
—

 
$
—

 
$
26.0

 
$
804.8

 
$
—

 
$
830.9


Condensed Consolidating Statement of Cash Flows
For the nine months ended September 30, 2018
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
$
97.2

 
$
(2.7
)
 
$
17.5

 
$
(116.4
)
 
$
791.7

 
$
(24.7
)
 
$
183.8

 
$
—

 
$
946.4

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

 
—

 
—

 
—

 
(51.0
)
 
—

 
2.0

 
—

 
(49.0
)
Net cash provided by (used in) operating activities
97.2

 
(2.7
)
 
17.5

 
(116.4
)
 
740.7

 
(24.7
)
 
185.8

 
—

 
897.4

CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Capital expenditures
—

 
—

 
—

 
—

 
(69.0
)
 
—

 
(182.2
)
 
—

 
(251.2
)
Acquisitions and equity method investments, net of cash acquired
—

 
—

 
—

 
—

 
—

 
—

 
(281.5
)
 
—

 
(281.5
)
Other investing activities, net
—

 
—

 
(4.0
)
 
—

 
3.0

 
—

 
13.1

 
—

 
12.1

Intercompany investing activities, net
889.7

 
(648.3
)
 
501.0

 
—

 
(1,205.7
)
 
—

 
636.4

 
(173.1
)
 
—

Net cash provided by (used in) continuing investing activities
889.7

 
(648.3
)
 
497.0

 
—

 
(1,271.7
)
 
—

 
185.8

 
(173.1
)
 
(520.6
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net proceeds from (payments of) debt
—

 
—

 
—

 
31.6

 
(7.5
)
 
—

 
(6.4
)
 
—

 
17.7

Debt issuance costs
—

 
—

 
—

 
(12.0
)
 
—

 
—

 
—

 
—

 
(12.0
)
Dividends paid to ordinary shareholders
(351.2
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(351.2
)
Dividends paid to noncontrolling interests
—

 
—

 
—

 
—

 
—

 
—

 
(41.1
)
 
—

 
(41.1
)
Repurchase of ordinary shares
(514.1
)
 
—

 
—

 
—

 
—

 
—

 
—

 
—

 
(514.1
)
Other financing activities, net
36.3

 
—

 
—

 
—

 
(1.2
)
 
—

 
(3.3
)
 
—

 
31.8

Intercompany financing activities, net
(157.9
)
 
651.0

 
(474.8
)
 
96.8

 
434.9

 
24.7

 
(747.8
)
 
173.1

 
—

Net cash provided by (used in) continuing financing activities
(986.9
)
 
651.0

 
(474.8
)
 
116.4

 
426.2

 
24.7

 
(798.6
)
 
173.1

 
(868.9
)
Effect of exchange rate changes on cash and cash equivalents
—

 
—

 
—

 
—

 
—

 
—

 
(34.8
)
 
—

 
(34.8
)
Net increase (decrease) in cash and cash equivalents
—

 
—

 
39.7

 
—

 
(104.8
)
 
—

 
(461.8
)
 
—

 
(526.9
)
Cash and cash equivalents - beginning of period
—

 
—

 
0.6

 
—

 
359.3

 
—

 
1,189.5

 
—

 
1,549.4

Cash and cash equivalents - end of period
$
—

 
$
—

 
$
40.3

 
$
—

 
$
254.5

 
$
—

 
$
727.7

 
$
—

 
$
1,022.5