2023 Q1 Form 10-K Financial Statement

#000146625823000058 Filed on February 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $3.666B $4.074B $15.99B
YoY Change 9.25% 14.13% 13.12%
Cost Of Revenue $2.522B $2.854B $11.03B
YoY Change 6.58% 13.09% 14.16%
Gross Profit $1.144B $1.220B $4.965B
YoY Change 15.62% 16.65% 10.89%
Gross Profit Margin 31.19% 29.94% 31.05%
Selling, General & Admin $686.7M $638.9M $2.546B
YoY Change 14.3% 6.06% 4.07%
% of Gross Profit 60.05% 52.39% 51.28%
Research & Development $211.2M
YoY Change 9.15%
% of Gross Profit 4.25%
Depreciation & Amortization $79.80M $82.60M $176.5M
YoY Change 3.23% 8.12% 3.52%
% of Gross Profit 6.98% 6.77% 3.56%
Operating Expenses $686.7M $638.9M $2.757B
YoY Change 14.3% 6.06% 4.44%
Operating Profit $456.8M $580.6M $2.419B
YoY Change 17.67% 31.06% 19.55%
Interest Expense $57.60M -$56.70M $223.5M
YoY Change 2.86% -0.18% -4.36%
% of Operating Profit 12.61% -9.77% 9.24%
Other Income/Expense, Net -$9.400M -$1.500M -$23.30M
YoY Change 1242.86% -109.55% -2218.18%
Pretax Income $389.8M $522.4M $2.172B
YoY Change 17.59% 32.39% 21.3%
Income Tax $73.20M $73.50M $375.9M
% Of Pretax Income 18.78% 14.07% 17.31%
Net Earnings $307.1M $439.1M $1.757B
YoY Change 18.02% 38.17% 23.4%
Net Earnings / Revenue 8.38% 10.78% 10.98%
Basic Earnings Per Share $1.34 $7.55
Diluted Earnings Per Share $1.33 $1.88 $7.48
COMMON SHARES
Basic Shares Outstanding 229.1M shares 230.3M shares 232.6M shares
Diluted Shares Outstanding 231.5M shares 234.9M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $692.9M $1.221B $1.221B
YoY Change -48.61% -43.47% -43.47%
Cash & Equivalents $692.9M $1.221B $1.221B
Short-Term Investments
Other Short-Term Assets $432.2M $384.8M $183.6M
YoY Change 13.74% 9.47% -1.66%
Inventory $2.344B $1.994B $1.994B
Prepaid Expenses
Receivables $2.606B $2.780B $2.981B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.075B $6.379B $6.379B
YoY Change 0.73% -1.42% -1.42%
LONG-TERM ASSETS
Property, Plant & Equipment $1.582B $1.536B $1.999B
YoY Change 11.26% 9.82% 8.88%
Goodwill $5.523B $5.504B
YoY Change 0.48% -0.02%
Intangibles $3.231B $3.264B
YoY Change -1.22% -1.26%
Long-Term Investments
YoY Change
Other Assets $1.486B $1.399B $696.5M
YoY Change 4.93% 1.37% -3.85%
Total Long-Term Assets $11.82B $11.70B $11.70B
YoY Change 1.86% 0.98% 0.98%
TOTAL ASSETS
Total Short-Term Assets $6.075B $6.379B $6.379B
Total Long-Term Assets $11.82B $11.70B $11.70B
Total Assets $17.90B $18.08B $18.08B
YoY Change 1.48% 0.12% 0.12%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.963B $2.092B $2.092B
YoY Change 1.6% 17.03% 17.03%
Accrued Expenses $2.166B $2.006B $1.537B
YoY Change 13.54% -3.09% -15.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $348.3M $1.048B $1.048B
YoY Change -0.6% 199.09% 199.09%
Total Short-Term Liabilities $4.831B $5.687B $5.687B
YoY Change 5.16% 19.66% 19.66%
LONG-TERM LIABILITIES
Long-Term Debt $4.482B $3.788B $3.788B
YoY Change -0.24% -15.66% -15.66%
Other Long-Term Liabilities $1.219B $1.154B $1.821B
YoY Change 4.54% 0.35% -7.13%
Total Long-Term Liabilities $5.701B $4.943B $5.610B
YoY Change 0.74% -12.4% -13.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.831B $5.687B $5.687B
Total Long-Term Liabilities $5.701B $4.943B $5.610B
Total Liabilities $11.84B $11.98B $11.99B
YoY Change 1.92% 1.61% 1.6%
SHAREHOLDERS EQUITY
Retained Earnings $8.202B $8.321B
YoY Change 1.28% -0.39%
Common Stock $252.5M $253.3M
YoY Change -2.25% -2.46%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.719B $1.719B
YoY Change 0.0% 0.0%
Treasury Stock Shares 24.50M shares
Shareholders Equity $6.036B $6.089B $6.089B
YoY Change
Total Liabilities & Shareholders Equity $17.90B $18.08B $18.08B
YoY Change 1.48% 0.12% 0.12%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $307.1M $439.1M $1.757B
YoY Change 18.02% 38.17% 23.4%
Depreciation, Depletion And Amortization $79.80M $82.60M $176.5M
YoY Change 3.23% 8.12% 3.52%
Cash From Operating Activities $8.500M $760.3M $1.504B
YoY Change -104.52% 78.01% -5.31%
INVESTING ACTIVITIES
Capital Expenditures $77.10M $89.00M $291.8M
YoY Change 3.07% -187.77% 30.85%
Acquisitions $118.5M $234.7M
YoY Change -52.83% -12.82%
Other Investing Activities $13.90M -$125.6M $23.00M
YoY Change 67.47% -46.67% -66.47%
Cash From Investing Activities -$91.00M -$214.6M -$540.4M
YoY Change 9.24% -36.3% -0.97%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $1.200B
YoY Change 9.08%
Debt Paid & Issued, Net $700.0M $9.600M
YoY Change -97.78%
Cash From Financing Activities -$459.2M -439.2M -$1.852B
YoY Change -14.1% -33.72% -12.94%
NET CHANGE
Cash From Operating Activities $8.500M 760.3M $1.504B
Cash From Investing Activities -$91.00M -214.6M -$540.4M
Cash From Financing Activities -$459.2M -439.2M -$1.852B
Net Change In Cash -$527.6M 106.5M -$938.7M
YoY Change -34.93% -118.61% -16.98%
FREE CASH FLOW
Cash From Operating Activities $8.500M $760.3M $1.504B
Capital Expenditures $77.10M $89.00M $291.8M
Free Cash Flow -$68.60M $671.3M $1.212B
YoY Change -73.92% 27.02% -11.21%

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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1278600000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
1220500000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
2159200000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
3289900000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
218000000.0 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
234900000 usd
CY2020 us-gaap Interest Paid Net
InterestPaidNet
243500000 usd
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
321300000 usd
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
356900000 usd
CY2020 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
151600000 usd
CY2022 us-gaap Nature Of Operations
NatureOfOperations
DESCRIPTION OF COMPANY<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%">Trane Technologies plc, a public limited company, incorporated in Ireland in 2009, and its consolidated subsidiaries (collectively we, our, the Company) is a global climate innovator. The Company brings sustainable and efficient solutions to buildings, homes and transportation through the Company's strategic brands, Trane</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> and Thermo King</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:6.5pt;font-weight:400;line-height:120%;position:relative;top:-3.5pt;vertical-align:baseline">®</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">, and its environmentally responsible portfolio of products, services and connected intelligent controls. The Company generates revenue and cash primarily through the design, manufacture, sales and service of solutions for Heating, Ventilation and Air Conditioning (HVAC), transport refrigeration, and custom refrigeration solutions. As an industry leader with an extensive global install base, the Company's growth strategy includes expanding recurring revenue through services and rental options. The Company’s unique business operating system, uplifting culture and highly engaged team around the world are also central to its earnings and cash flow growth.</span></div><div style="margin-top:6pt;text-align:justify;text-indent:11.25pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Completion of Reverse Morris Trust Transaction</span></div><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%">On February 29, 2020 (Distribution Date), the Company completed its Reverse Morris Trust transaction (the Transaction) with Gardner Denver Holdings, Inc. (Gardner Denver) whereby the Company separated its former Industrial segment (Ingersoll Rand Industrial) through a pro rata distribution to shareholders of record as of February 24, 2020 (Spin-off Shareholders). Ingersoll Rand Industrial then merged into a wholly-owned subsidiary of Gardner Denver, which changed its name to Ingersoll Rand Inc. (Ingersoll Rand). Upon close of the Transaction, the Spin-off Shareholders received 50.1% of the shares of Ingersoll Rand common stock on a fully-diluted basis and Gardner Denver shareholders retained 49.9% of the shares of Ingersoll Rand on a fully diluted basis. As a result, the Spin-off Shareholders received .8824 shares of Ingersoll Rand common stock with respect to each share owned as of February 24, 2020. In connection with the Transaction, the Company received a special cash payment of $1.9 billion. </span></div><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%">During the year ended December 31, 2022, the Company recorded a reduction to </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Retained earnings </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">of $18.9 million primarily related to tax matters associated with Ingersoll Rand Industrial and the settlement of certain items related to the Transaction. During the year ended December 31, 2021, the Company paid Ingersoll Rand $49.5 million to settle certain items related to the Transaction. This payment was related to working capital, cash and indebtedness amounts as of the Distribution Date, as well as funding levels related to pension plans, non-qualified deferred compensation plans and retiree health benefits. The Company recorded the settlement as a reduction to </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Retained earnings </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">during the first quarter of 2021. </span></div><div style="margin-top:6pt;text-align:justify;text-indent:11.25pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Discontinued Operations</span></div><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%">After the Distribution Date, the Company does not beneficially own any Ingersoll Rand Industrial shares of common stock and no longer consolidates Ingersoll Rand Industrial in its financial statements. The historical results of Ingersoll Rand Industrial are presented as a discontinued operation in the Consolidated Statements of Earnings and Consolidated Statements of Cash Flows. </span></div><div style="margin-top:6pt;text-align:justify;text-indent:11.25pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reorganization of Aldrich and Murray</span></div><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%">On May 1, 2020, certain subsidiaries of the Company underwent an internal corporate restructuring that was effectuated through a series of transactions (2020 Corporate Restructuring). As a result, Aldrich Pump LLC (Aldrich) and Murray Boiler LLC (Murray), indirect wholly-owned subsidiaries of Trane Technologies plc, became solely responsible for the asbestos-related liabilities, and the beneficiaries of the asbestos-related insurance assets, of Trane Technologies Company LLC and Trane U.S. Inc, respectively. On a consolidated basis, the 2020 Corporate Restructuring did not have an impact on the Consolidated Financial Statements. In connection with the 2020 Corporate Restructuring, certain subsidiaries of the Company entered into funding agreements with Aldrich and Murray (collectively the Funding Agreements), pursuant to which those subsidiaries are obligated, among other things, to pay the costs and expenses of Aldrich and Murray during the pendency of the Chapter 11 cases to the extent distributions from their respective subsidiaries are insufficient to do so and to provide an amount for the funding for a trust established pursuant to section 524(g) of the Bankruptcy Code, to the extent that the other assets of Aldrich and Murray are insufficient to provide the requisite trust funding.</span></div><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%">On June 18, 2020 (Petition Date), Aldrich and Murray filed voluntary petitions for relief under Chapter 11 of Title 11 of the United States Code (the Bankruptcy Code) in the United States Bankruptcy Court for the Western District of North Carolina (the Bankruptcy Court) to resolve equitably and permanently all current and future asbestos related claims in a manner beneficial to claimants, Aldrich and Murray. As a result of the Chapter 11 filings, all asbestos-related lawsuits against Aldrich and Murray have been stayed due to the imposition of a statutory automatic stay applicable in Chapter 11 bankruptcy cases. Only Aldrich and Murray have filed for Chapter 11 relief. Neither Aldrich's wholly-owned subsidiary, 200 Park, Inc. (200 Park), Murray's wholly-owned subsidiary, ClimateLabs LLC (ClimateLabs), Trane Technologies plc nor its other subsidiaries (the Trane Companies) are part of the Chapter 11 filings. The Trane Companies are expected to continue to operate as usual, with no disruption to their employees, suppliers, or customers globally. However, as of the</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Petition Date, Aldrich and its </span></div>wholly-owned subsidiary 200 Park and Murray and its wholly-owned subsidiary ClimateLabs were deconsolidated and their respective assets and liabilities were derecognized from the Company's Consolidated Financial Statements. Refer to Note 20, "Commitments and Contingencies," for more information regarding the Chapter 11 bankruptcy and asbestos-related matters.
CY2020 tt Receiptofaspecialcashpayment
Receiptofaspecialcashpayment
1900000000 usd
CY2022 us-gaap Stockholders Equity Note Spinoff Transaction
StockholdersEquityNoteSpinoffTransaction
-18900000 usd
CY2021 tt Settlement Related To Special Cash Payment
SettlementRelatedToSpecialCashPayment
-49500000 usd
CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
121000000 usd
CY2022Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.58
CY2022 us-gaap Use Of Estimates
UseOfEstimates
The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Estimates are based on several factors including the facts and circumstances available at the time the estimates are made, historical experience, risk of loss, general economic conditions and trends, and the assessment of the probable future outcome. Actual results could differ from those estimates. Estimates and assumptions are reviewed periodically, and the effects of changes, if any, are reflected in the Consolidated Statements of Earnings in the period that they are determined.
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
43700000 usd
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
39900000 usd
CY2021Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.54
CY2022 tt Schedule Of Depreciation Range Of Useful Lives
ScheduleOfDepreciationRangeOfUsefulLives
The range of useful lives used to depreciate property, plant and equipment is as follows:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.122%"><tr><td style="width:1.0%"/><td style="width:79.135%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:3.767%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.882%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:2.882%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.834%"/><td style="width:0.1%"/></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%">Buildings</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding: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%">10</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding: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%">to</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding: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%">50</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding: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%">years</span></td></tr><tr><td colspan="3" style="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%">Machinery and equipment</span></td><td colspan="3" style="padding: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%">2</span></td><td colspan="3" style="padding: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%">to</span></td><td colspan="3" style="padding: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%">12</span></td><td colspan="3" style="padding: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%">years</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;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%">Software</span></td><td colspan="3" style="background-color:#cceeff;border-bottom:1pt solid #000000;padding: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%">2</span></td><td colspan="3" style="background-color:#cceeff;border-bottom:1pt solid #000000;padding: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%">to</span></td><td colspan="3" style="background-color:#cceeff;border-bottom:1pt solid #000000;padding: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%">7</span></td><td colspan="3" style="background-color:#cceeff;border-bottom:1pt solid #000000;padding: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%">years</span></td></tr></table>
CY2022 tt Schedule Of Intangible Assets Weighted Average Useful Lives
ScheduleOfIntangibleAssetsWeightedAverageUsefulLives
The weighted-average useful lives approximate the following:<table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:99.853%"><tr><td style="width:1.0%"/><td style="width:86.601%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:5.781%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:4.318%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Customer relationships</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding: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%">16</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">years</span></td></tr><tr><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">Other</span></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000000;padding: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%">7</span></td><td colspan="3" style="background-color:#ffffff;border-bottom:1pt solid #000000;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:100%">years</span></td></tr></table>
CY2021Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
115600000 usd
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
211200000 usd
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
193500000 usd
CY2020 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
165000000 usd
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
79000000 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
509600000 usd
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
404600000 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
333800000 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
215900000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1280300000 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
982900000 usd
CY2022Q4 us-gaap Inventory Gross
InventoryGross
2123700000 usd
CY2021Q4 us-gaap Inventory Gross
InventoryGross
1603400000 usd
CY2022Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
129900000 usd
CY2021Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
72600000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
1993800000 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
1530800000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
94300000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3448600000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3216100000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1912500000 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1817300000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1536100000 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1398800000 usd
CY2022 us-gaap Depreciation
Depreciation
176500000 usd
CY2021 us-gaap Depreciation
Depreciation
170500000 usd
CY2020 us-gaap Depreciation
Depreciation
172800000 usd
CY2022 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
42100000 usd
CY2020 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
50200000 usd
CY2021 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
45700000 usd
CY2020Q4 us-gaap Goodwill
Goodwill
5342800000 usd
CY2021 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
210900000 usd
CY2021 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-48900000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
5504800000 usd
CY2022 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
96300000 usd
CY2022 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-97400000 usd
CY2022Q4 us-gaap Goodwill
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5503700000 usd
CY2020Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
2496000000 usd
CY2021Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
2496000000 usd
CY2022Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
2496000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2445400000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
143000000.0 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
141000000.0 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1805500000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
639900000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2356300000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1676600000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
679700000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
5069500000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1805500000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
3264000000 usd
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
4982200000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1676600000 usd
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
3305600000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
142700000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
123600000 usd
CY2020 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
115700000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
110000000.0 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
57000000.0 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
31000000.0 usd
CY2022Q4 us-gaap Debt Current
DebtCurrent
1048000000 usd
CY2021Q4 us-gaap Debt Current
DebtCurrent
350400000 usd
CY2022Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.049
CY2021Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.063
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3788300000 usd
CY2021Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
4491700000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
1048000000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
506200000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
157200000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
398400000 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
0 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
2726500000 usd
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
4836300000 usd
CY2022Q4 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
4600000000 usd
CY2021Q4 us-gaap Debt Instrument Fair Value
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CY2022 tt Release Of Indemnification Liability
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