$TT
Trane Technologies plc

2022 Q1 Form 10-Q Financial Statement

#000146625822000103 Filed on May 04, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 Q1
Revenue $3.356B $3.018B
YoY Change 11.2% 14.25%
Cost Of Revenue $2.367B $2.064B
YoY Change 14.63% 8.72%
Gross Profit $989.0M $953.2M
YoY Change 3.76% 28.38%
Gross Profit Margin 29.47% 31.59%
Selling, General & Admin $600.8M $600.0M
YoY Change 0.13% 2.02%
% of Gross Profit 60.75% 62.95%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $77.30M $76.00M
YoY Change 1.71% 1.33%
% of Gross Profit 7.82% 7.97%
Operating Expenses $600.8M $600.0M
YoY Change 0.13% 2.02%
Operating Profit $388.2M $353.2M
YoY Change 9.91% 128.76%
Interest Expense $56.00M $60.70M
YoY Change -7.74% -3.8%
% of Operating Profit 14.43% 17.19%
Other Income/Expense, Net -$700.0K -$7.200M
YoY Change -90.28% -157.6%
Pretax Income $331.5M $285.3M
YoY Change 16.19% 174.86%
Income Tax $61.10M $48.40M
% Of Pretax Income 18.43% 16.96%
Net Earnings $260.2M $235.2M
YoY Change 10.63% -905.48%
Net Earnings / Revenue 7.75% 7.79%
Basic Earnings Per Share $1.11 $0.98
Diluted Earnings Per Share $1.10 $0.97
COMMON SHARES
Basic Shares Outstanding 234.6M shares 239.4M shares
Diluted Shares Outstanding 237.1M shares 243.1M shares

Balance Sheet

Concept 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.348B $2.838B
YoY Change -52.49% 7.18%
Cash & Equivalents $1.348B $2.838B
Short-Term Investments
Other Short-Term Assets $380.0M $251.6M
YoY Change 51.03% -29.44%
Inventory $1.872B $1.373B
Prepaid Expenses
Receivables $2.430B $2.159B
Other Receivables $0.00 $0.00
Total Short-Term Assets $6.031B $6.622B
YoY Change -8.93% 0.95%
LONG-TERM ASSETS
Property, Plant & Equipment $1.422B $1.328B
YoY Change 7.12% 0.11%
Goodwill $5.496B $5.311B
YoY Change 3.49% 4.5%
Intangibles $3.271B $3.257B
YoY Change 0.44% -0.98%
Long-Term Investments
YoY Change
Other Assets $1.417B $1.307B
YoY Change 8.39% -5.18%
Total Long-Term Assets $11.61B $11.20B
YoY Change 3.6% 1.15%
TOTAL ASSETS
Total Short-Term Assets $6.031B $6.622B
Total Long-Term Assets $11.61B $11.20B
Total Assets $17.64B $17.82B
YoY Change -1.05% 1.07%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.932B $1.609B
YoY Change 20.06% 11.21%
Accrued Expenses $1.907B $1.722B
YoY Change 10.79% 12.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $350.4M $475.0M
YoY Change -26.23% -50.0%
Total Short-Term Liabilities $4.594B $4.175B
YoY Change 10.06% -1.56%
LONG-TERM LIABILITIES
Long-Term Debt $4.493B $4.496B
YoY Change -0.08% -2.78%
Other Long-Term Liabilities $1.166B $1.270B
YoY Change -8.2% -9.99%
Total Long-Term Liabilities $5.658B $5.766B
YoY Change -1.87% -4.46%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.594B $4.175B
Total Long-Term Liabilities $5.658B $5.766B
Total Liabilities $11.62B $11.51B
YoY Change 0.94% -2.82%
SHAREHOLDERS EQUITY
Retained Earnings $8.099B $8.452B
YoY Change -4.18% 3.99%
Common Stock $258.3M $263.6M
YoY Change -2.01% -0.04%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.719B $1.719B
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $5.999B $6.297B
YoY Change
Total Liabilities & Shareholders Equity $17.64B $17.82B
YoY Change -1.05% 1.07%

Cashflow Statement

Concept 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income $260.2M $235.2M
YoY Change 10.63% -905.48%
Depreciation, Depletion And Amortization $77.30M $76.00M
YoY Change 1.71% 1.33%
Cash From Operating Activities -$188.2M $260.1M
YoY Change -172.36% -179.4%
INVESTING ACTIVITIES
Capital Expenditures $74.80M $43.90M
YoY Change 70.39% 26.51%
Acquisitions $12.80M
YoY Change
Other Investing Activities $8.300M $57.00M
YoY Change -85.44%
Cash From Investing Activities -$83.30M -$113.7M
YoY Change -26.74% 180.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $350.0M $104.2M
YoY Change 235.89%
Debt Paid & Issued, Net $0.00 $300.0M
YoY Change -100.0%
Cash From Financing Activities -$534.6M -$554.9M
YoY Change -3.66% -131.36%
NET CHANGE
Cash From Operating Activities -$188.2M $260.1M
Cash From Investing Activities -$83.30M -$113.7M
Cash From Financing Activities -$534.6M -$554.9M
Net Change In Cash -$810.8M -$451.9M
YoY Change 79.42% -133.01%
FREE CASH FLOW
Cash From Operating Activities -$188.2M $260.1M
Capital Expenditures $74.80M $43.90M
Free Cash Flow -$263.0M $216.2M
YoY Change -221.65% -159.67%

Facts In Submission

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CY2020 us-gaap Deconsolidation Gain Or Loss Amount
DeconsolidationGainOrLossAmount
24900000 USD
CY2020 us-gaap Cash Divested From Deconsolidation
CashDivestedFromDeconsolidation
10800000 USD
CY2021Q3 us-gaap Bankruptcy Claims Amount Paid To Settle Claims
BankruptcyClaimsAmountPaidToSettleClaims
545000000 USD
CY2021Q3 tt Qualified Settlement Fund
QualifiedSettlementFund
270000000 USD
CY2021 tt Charge To Increase Funding Liability
ChargeToIncreaseFundingLiability
21200000 USD
CY2022Q1 tt Qsf Funding
QSFFunding
270000000 USD
CY2022Q1 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
40700000 USD
CY2021Q4 us-gaap Accrual For Environmental Loss Contingencies
AccrualForEnvironmentalLossContingencies
39600000 USD
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
296200000 USD
CY2022Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
27200000 USD
CY2022Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
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27100000 USD
CY2022Q1 us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
900000 USD
CY2022Q1 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-300000 USD
CY2022Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
296700000 USD
CY2022Q1 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
105600000 USD
CY2021Q4 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
106600000 USD
CY2022Q1 us-gaap Extended Product Warranty Accrual Current
ExtendedProductWarrantyAccrualCurrent
111300000 USD
CY2021Q4 us-gaap Extended Product Warranty Accrual Current
ExtendedProductWarrantyAccrualCurrent
115400000 USD

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