$TT
Trane Technologies plc

2021 Q1 Form 10-Q Financial Statement

#000146625821000088 Filed on May 05, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $3.018B $2.641B
YoY Change 14.25% -5.79%
Cost Of Revenue $2.064B $1.899B
YoY Change 8.72% -4.54%
Gross Profit $953.2M $742.5M
YoY Change 28.38% -8.84%
Gross Profit Margin 31.59% 28.11%
Selling, General & Admin $600.0M $588.1M
YoY Change 2.02% 1.75%
% of Gross Profit 62.95% 79.21%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $76.00M $75.00M
YoY Change 1.33% 5.78%
% of Gross Profit 7.97% 10.1%
Operating Expenses $600.0M $588.1M
YoY Change 2.02% 1.75%
Operating Profit $353.2M $154.4M
YoY Change 128.76% -34.71%
Interest Expense $60.70M $63.10M
YoY Change -3.8% 23.73%
% of Operating Profit 17.19% 40.87%
Other Income/Expense, Net -$7.200M $12.50M
YoY Change -157.6% -169.44%
Pretax Income $285.3M $103.8M
YoY Change 174.86% -38.03%
Income Tax $48.40M $51.00M
% Of Pretax Income 16.96% 49.13%
Net Earnings $235.2M -$29.20M
YoY Change -905.48% -114.61%
Net Earnings / Revenue 7.79% -1.11%
Basic Earnings Per Share $0.98 -$0.12
Diluted Earnings Per Share $0.97 -$0.12
COMMON SHARES
Basic Shares Outstanding 239.4M shares 239.5M shares
Diluted Shares Outstanding 243.1M shares 242.3M shares

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.838B $2.648B
YoY Change 7.18% 38.86%
Cash & Equivalents $2.838B $2.648B
Short-Term Investments
Other Short-Term Assets $251.6M $356.6M
YoY Change -29.44% -26.17%
Inventory $1.373B $1.464B
Prepaid Expenses
Receivables $2.159B $2.092B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.622B $6.560B
YoY Change 0.95% -7.41%
LONG-TERM ASSETS
Property, Plant & Equipment $1.328B $1.326B
YoY Change 0.11% -23.71%
Goodwill $5.311B $5.082B
YoY Change 4.5% -14.85%
Intangibles $3.257B $3.289B
YoY Change -0.98% -8.85%
Long-Term Investments
YoY Change
Other Assets $1.307B $1.378B
YoY Change -5.18% -0.18%
Total Long-Term Assets $11.20B $11.08B
YoY Change 1.15% -12.76%
TOTAL ASSETS
Total Short-Term Assets $6.622B $6.560B
Total Long-Term Assets $11.20B $11.08B
Total Assets $17.82B $17.64B
YoY Change 1.07% -10.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.609B $1.447B
YoY Change 11.21% -19.63%
Accrued Expenses $1.722B $1.528B
YoY Change 12.63% -21.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $475.0M $950.0M
YoY Change -50.0% 170.66%
Total Short-Term Liabilities $4.175B $4.241B
YoY Change -1.56% -5.52%
LONG-TERM LIABILITIES
Long-Term Debt $4.496B $4.625B
YoY Change -2.78% -11.51%
Other Long-Term Liabilities $1.270B $1.411B
YoY Change -9.99% -0.97%
Total Long-Term Liabilities $5.766B $6.036B
YoY Change -4.46% -9.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.175B $4.241B
Total Long-Term Liabilities $5.766B $6.036B
Total Liabilities $11.51B $11.85B
YoY Change -2.82% -7.87%
SHAREHOLDERS EQUITY
Retained Earnings $8.452B $8.128B
YoY Change 3.99% -12.59%
Common Stock $263.6M $263.7M
YoY Change -0.04% -0.68%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.719B $1.719B
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $6.297B $5.773B
YoY Change
Total Liabilities & Shareholders Equity $17.82B $17.64B
YoY Change 1.07% -10.85%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $235.2M -$29.20M
YoY Change -905.48% -114.61%
Depreciation, Depletion And Amortization $76.00M $75.00M
YoY Change 1.33% 5.78%
Cash From Operating Activities $260.1M -$327.6M
YoY Change -179.4% 522.81%
INVESTING ACTIVITIES
Capital Expenditures $43.90M $34.70M
YoY Change 26.51% -157.07%
Acquisitions $12.80M
YoY Change
Other Investing Activities $57.00M $0.00
YoY Change -100.0%
Cash From Investing Activities -$113.7M -$40.50M
YoY Change 180.74% -46.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $104.2M $0.00
YoY Change -100.0%
Debt Paid & Issued, Net $300.0M $0.00
YoY Change
Cash From Financing Activities -$554.9M $1.769B
YoY Change -131.36% 56.57%
NET CHANGE
Cash From Operating Activities $260.1M -$327.6M
Cash From Investing Activities -$113.7M -$40.50M
Cash From Financing Activities -$554.9M $1.769B
Net Change In Cash -$451.9M $1.369B
YoY Change -133.01% 36.36%
FREE CASH FLOW
Cash From Operating Activities $260.1M -$327.6M
Capital Expenditures $43.90M $34.70M
Free Cash Flow $216.2M -$362.3M
YoY Change -159.67% -4518.29%

Facts In Submission

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6427100000 USD
CY2021Q1 us-gaap Profit Loss
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237800000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-70700000 USD
CY2021Q1 tt Stock Issued During Period Value Stock Options Exercisednetoftaxremittances
StockIssuedDuringPeriodValueStockOptionsExercisednetoftaxremittances
-7000000.0 USD
CY2021Q1 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
104200000 USD
CY2021Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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24200000 USD
CY2021Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
3500000 USD
CY2021Q1 us-gaap Dividends Cash
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141000000.0 USD
CY2021Q1 us-gaap Stockholders Equity Note Spinoff Transaction
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-49900000 USD
CY2021Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6312800000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7312400000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-25900000 USD
CY2020Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-58600000 USD
CY2020Q1 tt Stock Issued During Period Value Stock Options Exercisednetoftaxremittances
StockIssuedDuringPeriodValueStockOptionsExercisednetoftaxremittances
-5600000 USD
CY2020Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
27600000 USD
CY2020Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
6100000 USD
CY2020Q1 tt Investmentin Jv Partner
InvestmentinJVPartner
7000000.0 USD
CY2020Q1 us-gaap Dividends Cash
DividendsCash
126700000 USD
CY2020Q1 us-gaap Stockholders Equity Note Spinoff Transaction
StockholdersEquityNoteSpinoffTransaction
-1334300000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
5789800000 USD
CY2021Q1 us-gaap Profit Loss
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237800000 USD
CY2020Q1 us-gaap Profit Loss
ProfitLoss
-25900000 USD
CY2021Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
900000 USD
CY2020Q1 us-gaap Income Loss From Discontinued Operations Net Of Tax
IncomeLossFromDiscontinuedOperationsNetOfTax
-78700000 USD
CY2021Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
76000000.0 USD
CY2020Q1 us-gaap Depreciation Amortization And Accretion Net
DepreciationAmortizationAndAccretionNet
75000000.0 USD
CY2021Q1 us-gaap Pension And Other Postretirement Benefits Expense Reversal Of Expense Noncash
PensionAndOtherPostretirementBenefitsExpenseReversalOfExpenseNoncash
17400000 USD
CY2020Q1 us-gaap Pension And Other Postretirement Benefits Expense Reversal Of Expense Noncash
PensionAndOtherPostretirementBenefitsExpenseReversalOfExpenseNoncash
17100000 USD
CY2021Q1 us-gaap Share Based Compensation
ShareBasedCompensation
24700000 USD
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
29000000.0 USD
CY2021Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
104600000 USD
CY2020Q1 us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
295800000 USD
CY2021Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-12500000 USD
CY2020Q1 us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
7400000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
262900000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-129300000 USD
CY2021Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-2800000 USD
CY2020Q1 us-gaap Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
-198300000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
260100000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-327600000 USD
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
43900000 USD
CY2020Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
34700000 USD
CY2021Q1 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
12800000 USD
CY2020Q1 us-gaap Cash Acquired In Excess Of Payments To Acquire Business
CashAcquiredInExcessOfPaymentsToAcquireBusiness
1000000.0 USD
CY2021Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
57000000.0 USD
CY2020Q1 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
0 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-113700000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-33700000 USD
CY2021Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
0 USD
CY2020Q1 us-gaap Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
-6800000 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-113700000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-40500000 USD
CY2021Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
300000000.0 USD
CY2020Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2021Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
140200000 USD
CY2020Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
125900000 USD
CY2021Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
3500000 USD
CY2020Q1 us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
6100000 USD
CY2021Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
7000000.0 USD
CY2020Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
5600000 USD
CY2021Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
104200000 USD
CY2020Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2021Q1 tt Receiptofaspecialcashpayment
Receiptofaspecialcashpayment
0 USD
CY2020Q1 tt Receiptofaspecialcashpayment
Receiptofaspecialcashpayment
1900000000.0 USD
CY2021Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
0 USD
CY2020Q1 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
7000000.0 USD
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-554900000 USD
CY2020Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1769400000 USD
CY2021Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-43400000 USD
CY2020Q1 us-gaap Effect Of Exchange Rate On Cash And Cash Equivalents
EffectOfExchangeRateOnCashAndCashEquivalents
-32200000 USD
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-451900000 USD
CY2020Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
1369100000 USD
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3289900000 USD
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1278600000 USD
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2838000000.0 USD
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2647700000 USD
CY2020Q1 tt Term Loan
TermLoan
1900000000 USD
CY2020Q1 tt Receiptofaspecialcashpayment
Receiptofaspecialcashpayment
1900000000 USD
CY2021Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
351000000.0 USD
CY2020Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
305000000.0 USD
CY2021Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
184300000 USD
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
163900000 USD
CY2021Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
871100000 USD
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
761400000 USD
CY2021Q1 us-gaap Inventory Gross
InventoryGross
1406400000 USD
CY2020Q4 us-gaap Inventory Gross
InventoryGross
1230300000 USD
CY2021Q1 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
33300000 USD
CY2020Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
41100000 USD
CY2021Q1 us-gaap Inventory Net
InventoryNet
1373100000 USD
CY2020Q4 us-gaap Inventory Net
InventoryNet
1189200000 USD
CY2021Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
87900000 USD
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
85600000 USD
CY2020Q4 us-gaap Goodwill
Goodwill
5342800000 USD
CY2021Q1 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
5800000 USD
CY2021Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-37400000 USD
CY2021Q1 us-gaap Goodwill
Goodwill
5311200000 USD
CY2021Q1 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
2496000000.0 USD
CY2020Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
2496000000.0 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2217200000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1586900000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
630300000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2220900000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1561800000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
659100000 USD
CY2021Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
4843800000 USD
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1586900000 USD
CY2021Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
3256900000 USD
CY2020Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
4848200000 USD
CY2020Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1561800000 USD
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
3286400000 USD
CY2021Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
30800000 USD
CY2020Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
30300000 USD
CY2021Q1 us-gaap Debt Current
DebtCurrent
475400000 USD
CY2020Q4 us-gaap Debt Current
DebtCurrent
775600000 USD
CY2021Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4496300000 USD
CY2020Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4496500000 USD
CY2021Q1 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
5700000000 USD
CY2020Q4 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
6300000000 USD
CY2021Q1 us-gaap Interest Rate Cash Flow Hedge Gain Loss To Be Reclassified During Next12 Months Net
InterestRateCashFlowHedgeGainLossToBeReclassifiedDuringNext12MonthsNet
700000 USD
CY2021Q1 tt Interest Rate Contracts Outstanding
InterestRateContractsOutstanding
0 USD
CY2020Q4 tt Interest Rate Contracts Outstanding
InterestRateContractsOutstanding
0 USD
CY2021Q1 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
6000000.0 USD
CY2021Q1 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
11800000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
2200000 USD
CY2020Q4 us-gaap Derivative Fair Value Of Derivative Liability
DerivativeFairValueOfDerivativeLiability
6500000 USD
CY2021Q1 us-gaap Pension Contributions
PensionContributions
14500000 USD
CY2020Q1 us-gaap Pension Contributions
PensionContributions
50000000.0 USD
CY2021Q1 us-gaap Capital Units Authorized
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1185040000 shares
CY2021Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
1.00
CY2021Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021Q1 tt Reconciliation Of Ordinary Shares
ReconciliationOfOrdinaryShares
<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Changes in ordinary shares and treasury shares for the three months ended March 31, 2021 were as follows:</span></div><div style="margin-bottom:11pt;margin-top:11pt"><table style="border-collapse:collapse;display:inline-table;vertical-align:top;width:99.707%"><tr><td style="width:1.0%"/><td style="width:70.894%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.536%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.533%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.537%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-style:italic;font-weight:700;line-height:100%">In millions</span></td><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Ordinary shares issued</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:700;line-height:100%">Ordinary shares held in treasury</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">December 31, 2020</span></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">263.3 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24.5 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Shares issued under incentive plans, net</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">1.0 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/><td colspan="3" style="display:none"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Repurchase of ordinary shares</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">(0.7)</span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">— </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">March 31, 2021</span></td><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">263.6 </span></td><td style="background-color:#ffffff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000000;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">24.5 </span></td><td style="background-color:#ffffff;border-bottom:1pt solid #000000;border-top:1pt solid #000000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>
CY2021Q1 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
395800000 USD
CY2020Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-631500000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-3400000 USD
CY2021Q1 us-gaap Other Comprehensive Income Loss Pension And Other Postretirement Benefit Plans Adjustment Net Of Tax
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansAdjustmentNetOfTax
-15200000 USD
CY2021Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-699800000 USD
CY2019Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1006600000 USD
CY2020Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-926000000.0 USD
CY2021Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
3017600000 USD
CY2020Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2641300000 USD
CY2021Q1 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
266500000 USD
CY2020Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
255400000 USD
CY2021Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1101200000 USD
CY2020Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
1077000000.0 USD
CY2021Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
0.27 USD
CY2021Q1 us-gaap Contract With Customer Liability Noncurrent
ContractWithCustomerLiabilityNoncurrent
0.38 USD
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Plan Modification Incremental Compensation Cost
ShareBasedCompensationArrangementByShareBasedPaymentAwardPlanModificationIncrementalCompensationCost
100000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
26500000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28100000 USD
CY2021Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
6400000 USD
CY2020Q1 us-gaap Employee Service Share Based Compensation Tax Benefit From Compensation Expense
EmployeeServiceShareBasedCompensationTaxBenefitFromCompensationExpense
6800000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
20100000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
21300000 USD
CY2021Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
20100000 USD
CY2020Q1 us-gaap Allocated Share Based Compensation Expense Net Of Tax
AllocatedShareBasedCompensationExpenseNetOfTax
21300000 USD
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0160
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0201
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.2789
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P4Y9M18D
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0.50
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0.50
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0.50
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25600000 USD
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0 USD
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315800000 USD
CY2021Q1 us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
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700000 USD
CY2020Q1 us-gaap Disposal Group Including Discontinued Operation General And Administrative Expense
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3700000 shares
CY2020Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
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2800000 shares
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500000 shares
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2641300000 USD
CY2021Q1 tt Segment Adjusted Ebitda
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504000000.0 USD
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315900000 USD
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504000000.0 USD
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75000000.0 USD
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25600000 USD
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285300000 USD
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103800000 USD
tt Expected Annual Inflation Rate
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0.025
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0.010
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CY2020Q4 us-gaap Standard Product Warranty Accrual
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282700000 USD
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251400000 USD
CY2021Q1 us-gaap Standard Product Warranty Accrual Payments
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29500000 USD
CY2020Q1 us-gaap Standard Product Warranty Accrual Payments
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32700000 USD
CY2021Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
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29400000 USD
CY2020Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
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30100000 USD
CY2021Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
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6300000 USD
CY2020Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
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CY2020Q1 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
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CY2021Q1 us-gaap Standard Product Warranty Accrual
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287100000 USD
CY2020Q1 us-gaap Standard Product Warranty Accrual
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242200000 USD
CY2021Q1 us-gaap Standard Product Warranty Accrual Current
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133100000 USD
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127700000 USD
CY2021Q1 us-gaap Extended Product Warranty Accrual Current
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108600000 USD
CY2020Q4 us-gaap Extended Product Warranty Accrual Current
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108600000 USD

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