Item 16. FORM 10-K SUMMARY

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Item 16. FORM 10-K SUMMARY

None.

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf on the 25th day of February 2022, by the undersigned, thereunto duly authorized.


			Ingersoll Rand Inc.

			By:			/s/ Vicente Reynal
						Name: Vicente Reynal
						Title: Chairman of the Board and Chief Executive Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below on the 25th day of February 2022, by the following persons on behalf of the registrant and in the capacities indicated.


Signature						Capacity
/s/ Vicente Reynal						Chairman of the Board and Chief Executive Officer
Vicente Reynal						(Principal Executive Officer), Director

/s/ Vikram U. Kini						Vice President and Chief Financial Officer
Vikram U. Kini						(Principal Financial Officer)

/s/ Michael J. Scheske						Vice President and Corporate Controller
Michael J. Scheske						(Principal Accounting Officer)

/s/ Kirk E. Arnold						Director
Kirk E. Arnold

/s/ Elizabeth Centoni						Director
Elizabeth Centoni

/s/ William P. Donnelly						Director
William P. Donnelly

/s/ Gary D. Forsee						Director
Gary D Forsee

/s/ John Humphrey						Director
John Humphrey

/s/ Marc E. Jones						Director
Marc E. Jones

/s/ Tony L. White						Director
Tony L. White

SCHEDULE 1 – INGERSOLL RAND INC.

(PARENT COMPANY ONLY)

STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(in millions)


	For the Years Ended December 31,
	2021		2020		2019
Revenues	$	—	$	—	$	—
Cost of sales	1.0		14.6		0.6
Gross Profit	(1.0)		(14.6)		(0.6)
Operating costs	67.9		30.9		10.4
Other operating expense, net	(8.4)		(4.9)		(47.0)
Operating Income (Loss)	(60.5)		(40.6)		36.0
Interest income	(28.8)		42.5		42.3
Income (Loss) Before Income Taxes	(89.3)		1.9		78.3
Income tax provision (benefit)	(18.1)		(3.9)		(5.1)
Income (Loss) of Parent Company	(71.2)		5.8		83.4
Equity in undistributed income of subsidiaries	592.1		(63.5)		13.9
Income (Loss) from Continuing Operations	520.9		(57.7)		97.3
Income from discontinued operations, net of tax	41.6		24.4		61.8
Net Income (Loss)	562.5		(33.3)		159.1
Other comprehensive income (loss)	(54.3)		270.2		(0.8)
Comprehensive Income	$	508.2	$	236.9	$	158.3

SCHEDULE 1 – INGERSOLL RAND INC.

(PARENT COMPANY ONLY)

BALANCE SHEETS

(in millions)


	As of December 31,
	2021		2020
Assets
Current assets:
Cash and cash equivalents	$	—	$	—
Other current assets	—		0.4
Total current assets	—		0.4
Equity in net assets of subsidiaries	8,513.3		8,006.0
Intercompany receivables	484.1		1,107.3
Deferred tax assets	10.8		10.9
Total assets	$	9,008.2	$	9,124.6

Liabilities and Equity
Other liabilities	$	6.7	$	4.9
Total liabilities	6.7		4.9
Stockholders’ equity:
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 423,785,571 and 420,123,978 shares issued as of December 31, 2021 and 2020, respectively	4.3		4.2
Capital in excess of par value	9,408.6		9,310.3
Accumulated deficit	378.6		(175.7)
Accumulated other comprehensive loss	(41.6)		14.2
Treasury stock at cost; 16,000,364 and 1,496,169 shares as of December 31, 2021 and 2020, respectively	(748.4)		(33.3)
Total Ingersoll Rand Inc. stockholders’ equity	9,001.5		9,119.7
Total liabilities and equity	$	9,008.2	$	9,124.6

SCHEDULE 1 – INGERSOLL RAND INC.

(PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF CASH FLOWS

(in millions)


	For the Years Ended December 31,
	2021		2020		2019
Cash Flows From Operating Activities:
Net cash provided by (used in) operating activities	$	(9.7)	$	(15.1)	$	(15.1)
Cash Flows From Investing Activities:
Advances to subsidiaries	731.0		(2.5)		(10.1)
Net cash provided by (used in) investing activities	731.0		(2.5)		(10.1)
Cash Flows From Financing Activities:
Proceeds from stock option exercises	23.7		22.7		42.8
Cash dividends on common stock	(8.2)		—		—
Purchases of treasury stock	(736.8)		(2.1)		(18.6)
Purchase of shares from noncontrolling interest	—		(14.9)		—
Proceeds from sale of noncontrolling interest	—		11.9		—
Net cash provided by (used in) financing activities	(721.3)		17.6		24.2
Increase (decrease) in cash and cash equivalents	—		—		(1.0)
Cash and cash equivalents, beginning of year	—		—		1.0
Cash and cash equivalents, end of year	$	—	$	—	$	—

SCHEDULE I - INGERSOLL RAND INC.

(PARENT COMPANY ONLY)

NOTES TO CONDENSED FINANCIAL STATEMENTS

1. Overview and Basis of Presentation

On February 29, 2020, Ingersoll Rand Inc. (formerly known as Gardner Denver Holdings, Inc.) completed the acquisition of and merger with Ingersoll Rand Industrial (“Ingersoll Rand Industrial”) and changed its name from Gardner Denver Holdings, Inc. to Ingersoll Rand Inc.

Ingersoll Rand Inc. Parent Company Only financial information has been derived from its consolidated financial statements and should be read in conjunction with the consolidated financial statements included in this report. The accounting policies for the registrant are the same as those described in Note 1 “Summary of Significant Accounting Policies” to our audited consolidated financial statements included elsewhere in this Form 10-K.

2. Subsidiary Transactions

Investment in Subsidiaries

Ingersoll Rand Inc.’s investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries.

Dividends and Capital Distributions

There were no dividends received from subsidiaries during the years ended December 31, 2021, 2020 and 2019.

3. Debt

A discussion of long-term debt, including the five-year debt maturity schedule, can be found in Note 11 “Debt” to our audited consolidated financial statements included elsewhere in this Form 10-K. Ingersoll Rand Inc. had no long-term debt obligations as of December 31, 2021 and 2020.

4. Contingencies

For a summary of contingencies, see Note 21 “Contingencies” to our audited consolidated financial statements included elsewhere in this Form 10-K.

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