Guarantor Financial Information (Tables)

9 Months Ended

Sep. 30, 2019

Condensed Financial Information Disclosure [Abstract]

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