filings.toolsItem 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
7K characters. Original on sec.gov · Markdown
Item 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
(a)The following Consolidated Financial Statements and the report thereon of PricewaterhouseCoopers LLP dated February 9, 2021, are presented in this Annual Report on Form 10-K beginning on page F-1.
Consolidated Financial Statements:
Report of Independent Registered Public Accounting Firm
Consolidated Statements of Comprehensive Income for the years ended December 31, 2020, 2019 and 2018
Consolidated Balance Sheets at December 31, 2020 and 2019
For the years ended December 31, 2020, 2019 and 2018:
Consolidated Statements of Equity
Consolidated Statements of Cash Flows
Notes to Consolidated Financial Statements
(b)In connection with the completion of the Transaction, we do not beneficially own any Ingersoll Rand Industrial shares of common stock and no longer consolidate Ingersoll Rand Industrial in our financial statements. As a result, the following unaudited selected quarterly financial data presents the results of Ingersoll Rand Industrial as a discontinued operation for periods prior to the Distribution date. The unaudited selected quarterly financial data for the two years ended December 31, is as follows:
| 2020 | ||||||||||||||||||||||||||
| In millions, except per share amounts | First Quarter | Second Quarter | Third Quarter | Fourth Quarter | ||||||||||||||||||||||
| Net revenues | $ | 2,641.3 | $ | 3,138.8 | $ | 3,495.5 | $ | 3,179.1 | ||||||||||||||||||
| Cost of goods sold | (1,898.8) | (2,160.5) | (2,360.8) | (2,231.2) | ||||||||||||||||||||||
| Operating income | 154.4 | 423.5 | 566.9 | 388.0 | ||||||||||||||||||||||
| Earnings from continuing operations | 52.8 | 278.3 | 410.1 | 250.2 | ||||||||||||||||||||||
| Discontinued operations, net of tax | (78.7) | (36.2) | (5.5) | (1.0) | ||||||||||||||||||||||
| Net earnings (loss) | (25.9) | 242.1 | 404.6 | 249.2 | ||||||||||||||||||||||
| Net earnings (loss) attributable to Trane Technologies plc | (29.2) | 238.8 | 400.6 | 244.7 | ||||||||||||||||||||||
| Amounts attributable to Trane Technologies plc ordinary shareholders: | ||||||||||||||||||||||||||
| Continuing operations | $ | 50.0 | $ | 275.4 | $ | 406.1 | $ | 245.7 | ||||||||||||||||||
| Discontinued operations | (79.2) | (36.6) | (5.5) | (1.0) | ||||||||||||||||||||||
| Net earnings (loss) | $ | (29.2) | $ | 238.8 | $ | 400.6 | $ | 244.7 | ||||||||||||||||||
| Earnings (Loss) per share attributable to Trane Technologies plc ordinary shareholders: | ||||||||||||||||||||||||||
| Basic: | ||||||||||||||||||||||||||
| Continuing operations | $ | 0.21 | $ | 1.15 | $ | 1.69 | $ | 1.02 | ||||||||||||||||||
| Discontinued operations | $ | (0.33) | $ | (0.15) | $ | (0.02) | $ | — | ||||||||||||||||||
| Diluted: | ||||||||||||||||||||||||||
| Continuing operations | $ | 0.21 | $ | 1.14 | $ | 1.67 | $ | 1.01 | ||||||||||||||||||
| Discontinued operations | $ | (0.33) | $ | (0.15) | $ | (0.03) | $ | — | ||||||||||||||||||
| 2019 | ||||||||||||||||||||||||||
| First Quarter | Second Quarter | Third Quarter | Fourth Quarter | |||||||||||||||||||||||
| Net revenues | $ | 2,803.7 | $ | 3,617.6 | $ | 3,470.9 | $ | 3,183.7 | ||||||||||||||||||
| Cost of goods sold | (1,989.2) | (2,462.8) | (2,366.6) | (2,266.9) | ||||||||||||||||||||||
| Operating income | 236.5 | 566.9 | 536.5 | 330.2 | ||||||||||||||||||||||
| Earnings from continuing operations | 147.3 | 412.6 | 386.3 | 214.1 | ||||||||||||||||||||||
| Discontinued operations, net of tax | 56.4 | 47.7 | 77.1 | 87.0 | ||||||||||||||||||||||
| Net earnings (loss) | 203.7 | 460.3 | 463.4 | 301.1 | ||||||||||||||||||||||
| Net earnings (loss) attributable to Trane Technologies plc | 199.9 | 456.1 | 458.8 | 296.1 | ||||||||||||||||||||||
| Amounts attributable to Trane Technologies plc ordinary shareholders: | ||||||||||||||||||||||||||
| Continuing operations | $ | 144.2 | $ | 409.1 | $ | 382.6 | $ | 209.2 | ||||||||||||||||||
| Discontinued operations | 55.7 | 47.0 | 76.2 | 86.9 | ||||||||||||||||||||||
| Net earnings (loss) | $ | 199.9 | $ | 456.1 | $ | 458.8 | $ | 296.1 | ||||||||||||||||||
| Earnings (Loss) per share attributable to Trane Technologies plc ordinary shareholders: | ||||||||||||||||||||||||||
| Basic: | ||||||||||||||||||||||||||
| Continuing operations | $ | 0.59 | $ | 1.69 | $ | 1.58 | $ | 0.87 | ||||||||||||||||||
| Discontinued operations | $ | 0.23 | $ | 0.19 | $ | 0.32 | $ | 0.36 | ||||||||||||||||||
| Diluted: | ||||||||||||||||||||||||||
| Continuing operations | $ | 0.59 | $ | 1.67 | $ | 1.57 | $ | 0.86 | ||||||||||||||||||
| Discontinued operations | $ | 0.23 | $ | 0.19 | $ | 0.31 | $ | 0.36 |
Previous: Item 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK · Next: Item 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL