Cover and table of contents

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Cover and table of contents

Table of Contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_______________________________

FORM 10-Q

_______________________________

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2024

or

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission File Number 001-34400

_____________________________

TRANE TECHNOLOGIES PLC

(Exact name of registrant as specified in its charter)

_______________________________

Ireland98-0626632
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)

170/175 Lakeview Dr.

Airside Business Park

Swords Co. Dublin

Ireland

(Address of principal executive offices, including zip code)

+(353) (0) 18707400

(Registrant’s telephone number, including area code)

_______________________________

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Ordinary Shares, Par Value $1.00 per ShareTTNew York Stock Exchange
5.250% Senior Notes due 2033TT33New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes x No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated FilerxAccelerated filer¨Emerging growth company☐
Non-accelerated filer¨Smaller reporting company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No x

The number of ordinary shares outstanding of Trane Technologies plc as of April 26, 2024 was 226,352,436.

Table of Contents

TRANE TECHNOLOGIES PLC

FORM 10-Q

INDEX

PART I FINANCIAL INFORMATION1
Item 1 -Financial Statements1
Condensed Consolidated Statements of Earnings for the three months ended March 31, 2024 and 20231
Condensed Consolidated Statements of Comprehensive Income (Loss) for the three months ended March 31, 2024 and 20232
Condensed Consolidated Balance Sheets at March 31, 2024 and December 31, 20233
Condensed Consolidated Statements of Equity for the three months ended March 31, 2024 and 20234
Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2024 and 20235
Notes to Condensed Consolidated Financial Statements6
Item 2 -Management’s Discussion and Analysis of Financial Condition and Results of Operations23
Item 3 -Quantitative and Qualitative Disclosures about Market Risk37
Item 4 -Controls and Procedures37
PART II OTHER INFORMATION38
Item 1 -Legal Proceedings38
Item 1A -Risk Factors38
Item 2 -Unregistered Sales of Equity Securities and Use of Proceeds38
Item 5 -Other Information39
Item 6 -Exhibits40
39
SIGNATURES41

Table of Contents

PART I - FINANCIAL INFORMATION

Next: Item 1. Financial Statements