2024 Q1 Form 10-K Financial Statement

#000146625824000047 Filed on February 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $4.216B $4.424B $17.68B
YoY Change 15.0% 8.6% 10.54%
Cost Of Revenue $2.756B $2.953B $11.82B
YoY Change 9.25% 3.45% 7.2%
Gross Profit $1.460B $1.471B $5.857B
YoY Change 27.67% 20.65% 17.97%
Gross Profit Margin 34.63% 33.26% 33.13%
Selling, General & Admin $826.1M $783.6M $2.963B
YoY Change 20.3% 22.65% 16.39%
% of Gross Profit 56.59% 53.26% 50.59%
Research & Development $252.3M
YoY Change 19.46%
% of Gross Profit 4.31%
Depreciation & Amortization $91.50M $87.90M $348.1M
YoY Change 14.66% 6.42% 97.22%
% of Gross Profit 6.27% 5.97% 5.94%
Operating Expenses $826.1M $783.6M $2.963B
YoY Change 20.3% 22.65% 7.48%
Operating Profit $633.8M $687.7M $2.894B
YoY Change 38.75% 18.45% 19.64%
Interest Expense -$68.30M -$57.30M -$234.5M
YoY Change -218.58% 1.06% -204.92%
% of Operating Profit -10.78% -8.33% -8.1%
Other Income/Expense, Net -$14.80M -$15.60M -$92.20M
YoY Change 57.45% 940.0% 295.71%
Pretax Income $550.7M $614.8M $2.567B
YoY Change 41.28% 17.69% 18.19%
Income Tax $105.5M $98.20M $498.4M
% Of Pretax Income 19.16% 15.97% 19.41%
Net Earnings $436.3M $504.3M $2.024B
YoY Change 42.07% 14.85% 15.22%
Net Earnings / Revenue 10.35% 11.4% 11.45%
Basic Earnings Per Share $1.92 $8.85
Diluted Earnings Per Share $1.90 $2.19 $8.77
COMMON SHARES
Basic Shares Outstanding 227.1M shares 227.6M shares 228.6M shares
Diluted Shares Outstanding 229.5M shares 230.7M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $849.9M $1.095B $1.095B
YoY Change 22.66% -10.26% -10.26%
Cash & Equivalents $849.9M $1.095B $1.095B
Short-Term Investments
Other Short-Term Assets $249.4M $665.7M $665.7M
YoY Change -42.3% 73.0% 262.58%
Inventory $2.383B $2.152B $2.152B
Prepaid Expenses
Receivables $3.405B $2.957B $2.957B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $6.887B $6.870B $6.870B
YoY Change 13.37% 7.69% 7.69%
LONG-TERM ASSETS
Property, Plant & Equipment $1.788B $1.772B $1.772B
YoY Change 13.02% 15.37% -11.33%
Goodwill $6.060B $6.095B
YoY Change 9.73% 10.75%
Intangibles $3.391B $3.440B
YoY Change 4.94% 5.39%
Long-Term Investments
YoY Change
Other Assets $1.215B $1.215B $1.215B
YoY Change -18.25% -13.15% 74.4%
Total Long-Term Assets $12.45B $12.52B $12.52B
YoY Change 5.34% 7.0% 7.0%
TOTAL ASSETS
Total Short-Term Assets $6.887B $6.870B $6.870B
Total Long-Term Assets $12.45B $12.52B $12.52B
Total Assets $19.34B $19.39B $19.39B
YoY Change 8.07% 7.25% 7.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.008B $2.025B $2.025B
YoY Change 2.33% -3.17% -3.17%
Accrued Expenses $1.823B $3.226B $3.226B
YoY Change -15.84% 60.84% 109.97%
Deferred Revenue
YoY Change
Short-Term Debt $100.0M $0.00 $0.00
YoY Change
Long-Term Debt Due $802.1M $801.9M $801.9M
YoY Change 130.29% -23.48% -23.48%
Total Short-Term Liabilities $6.102B $6.054B $6.054B
YoY Change 26.3% 6.45% 6.45%
LONG-TERM LIABILITIES
Long-Term Debt $3.979B $3.978B $3.978B
YoY Change -11.23% 5.0% 5.0%
Other Long-Term Liabilities $1.672B $2.344B $2.344B
YoY Change 37.19% 103.04% 28.68%
Total Long-Term Liabilities $5.651B $6.321B $6.321B
YoY Change -0.88% 27.9% 12.69%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.102B $6.054B $6.054B
Total Long-Term Liabilities $5.651B $6.321B $6.321B
Total Liabilities $12.45B $12.37B $12.37B
YoY Change 5.14% 3.33% 3.18%
SHAREHOLDERS EQUITY
Retained Earnings $9.104B $9.134B
YoY Change 11.0% 9.77%
Common Stock $251.2M $251.7M
YoY Change -0.51% -0.63%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.719B $1.719B
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $6.890B $7.017B $7.017B
YoY Change
Total Liabilities & Shareholders Equity $19.34B $19.39B $19.39B
YoY Change 8.07% 7.25% 7.25%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $436.3M $504.3M $2.024B
YoY Change 42.07% 14.85% 15.22%
Depreciation, Depletion And Amortization $91.50M $87.90M $348.1M
YoY Change 14.66% 6.42% 97.22%
Cash From Operating Activities $247.2M $934.8M $2.390B
YoY Change 2808.24% 22.95% 58.88%
INVESTING ACTIVITIES
Capital Expenditures $83.80M $83.50M $300.7M
YoY Change 8.69% -6.18% 3.05%
Acquisitions $862.8M
YoY Change 267.62%
Other Investing Activities $2.100M -$352.6M -$871.5M
YoY Change -84.89% 180.73% -3889.13%
Cash From Investing Activities -$81.70M -$436.1M -$1.172B
YoY Change -10.22% 103.22% 116.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$669.3M
YoY Change -155.77%
Debt Paid & Issued, Net $0.00 $754.6M
YoY Change -100.0% 7760.42%
Cash From Financing Activities -386.7M -398.2M -1.350B
YoY Change -15.79% -9.34% -27.1%
NET CHANGE
Cash From Operating Activities 247.2M 934.8M 2.390B
Cash From Investing Activities -81.70M -436.1M -1.172B
Cash From Financing Activities -386.7M -398.2M -1.350B
Net Change In Cash -221.2M 100.5M -132.9M
YoY Change -58.07% -5.63% -85.84%
FREE CASH FLOW
Cash From Operating Activities $247.2M $934.8M $2.390B
Capital Expenditures $83.80M $83.50M $300.7M
Free Cash Flow $163.4M $851.3M $2.089B
YoY Change -338.19% 26.81% 72.32%

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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 or Trane Technologies) 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.</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 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.</span></div>
CY2022Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
121000000 usd
CY2023 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.
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
44800000 usd
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
43700000 usd
CY2023Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.59
CY2022Q4 us-gaap Percentage Of Lifo Inventory
PercentageOfLIFOInventory
0.58
CY2023 tt Schedule Of Depreciation Range Of Useful Lives
ScheduleOfDepreciationRangeOfUsefulLives
The range of useful lives used to depreciate property, plant and equipment is as follows:<div style="margin-top:5pt"><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><td style="width:79.135%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:3.767%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.882%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:2.882%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.834%"></td><td style="width:0.1%"></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%">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></div>
CY2023 tt Schedule Of Intangible Assets Weighted Average Useful Lives
ScheduleOfIntangibleAssetsWeightedAverageUsefulLives
The weighted-average useful lives approximate the following:<div style="margin-top:11pt"><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><td style="width:86.601%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:5.781%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:4.318%"></td><td style="width:0.1%"></td></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%">15</span></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;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%">8</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></div>
CY2023Q4 us-gaap Equity Securities Without Readily Determinable Fair Value Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueAmount
69900000 usd
CY2023 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
252300000 usd
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
211200000 usd
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
193500000 usd
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
605100000 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
509600000 usd
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
385100000 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
333800000 usd
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1332300000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1280300000 usd
CY2023Q4 us-gaap Inventory Gross
InventoryGross
2322500000 usd
CY2022Q4 us-gaap Inventory Gross
InventoryGross
2123700000 usd
CY2023Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
170400000 usd
CY2022Q4 us-gaap Inventory Lifo Reserve
InventoryLIFOReserve
129900000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
2152100000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
1993800000 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
143500000 usd
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
94300000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
165200000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
3439800000 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
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3820900000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3448600000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2048700000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1912500000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1772200000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1536100000 usd
CY2023 us-gaap Depreciation
Depreciation
178300000 usd
CY2022 us-gaap Depreciation
Depreciation
176500000 usd
CY2021 us-gaap Depreciation
Depreciation
170500000 usd
CY2023 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
36500000 usd
CY2022 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
42100000 usd
CY2021 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
45700000 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
Goodwill
5503700000 usd
CY2023 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
566500000 usd
CY2023 us-gaap Goodwill Other Increase Decrease
GoodwillOtherIncreaseDecrease
1200000 usd
CY2023 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
23900000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
6095300000 usd
CY2022Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
2496000000 usd
CY2021Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
2496000000 usd
CY2023Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
2496000000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2804000000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1974500000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
829500000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2445400000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1805500000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
639900000 usd
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
5414300000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1974500000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
142700000 usd
CY2022Q4 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
4600000000 usd
CY2023 us-gaap Equity Securities Without Readily Determinable Fair Value Impairment Loss Annual Amount
EquitySecuritiesWithoutReadilyDeterminableFairValueImpairmentLossAnnualAmount
-52200000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
123600000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
178 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
146 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
93 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
64 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
45 usd
CY2023Q4 us-gaap Debt Current
DebtCurrent
801900000 usd
CY2022Q4 us-gaap Debt Current
DebtCurrent
1048000000 usd
CY2023Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.046
CY2022Q4 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.049
CY2023 tt Put Options Exercised
PutOptionsExercised
45800000 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3977900000 usd
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
3788300000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
801900000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
157200000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
398900000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
0 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
547300000 usd
CY2023Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
2874500000 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
4779800000 usd
CY2023 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
700000000 usd
CY2023 us-gaap Debt Instrument Repaid Principal
DebtInstrumentRepaidPrincipal
700000000 usd
CY2023Q4 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
4700000000 usd
CY2023Q4 us-gaap Supplier Finance Program Obligation
SupplierFinanceProgramObligation
246000000 usd
CY2022Q4 us-gaap Supplier Finance Program Obligation
SupplierFinanceProgramObligation
247200000 usd
CY2023Q4 us-gaap Derivative Assets
DerivativeAssets
4100000 usd
CY2023Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
4800000 usd
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
90300000 usd
CY2022Q4 us-gaap Derivative Assets
DerivativeAssets
5100000 usd
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
11900000 usd
CY2022Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
49300000 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
49300000 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
96200000 usd
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
90300000 usd
CY2023 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-49300000 usd
CY2022 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
-46900000 usd
CY2023Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
90300000 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
49300000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
513100000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
462500000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y10M24D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.045
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.030
CY2023Q4 tt Prepaid Lease Paymentand Lease Incentive
PrepaidLeasePaymentandLeaseIncentive
9600000 usd
CY2022Q4 tt Prepaid Lease Paymentand Lease Incentive
PrepaidLeasePaymentandLeaseIncentive
6800000 usd
CY2023 us-gaap Operating Lease Cost
OperatingLeaseCost
187800000 usd
CY2022 us-gaap Operating Lease Cost
OperatingLeaseCost
179400000 usd
CY2023 us-gaap Variable Lease Cost
VariableLeaseCost
31000000.0 usd
CY2022 us-gaap Variable Lease Cost
VariableLeaseCost
28200000 usd
CY2023 us-gaap Operating Lease Payments
OperatingLeasePayments
185300000 usd
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
179000000.0 usd
CY2023 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
179200000 usd
CY2022 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
177000000.0 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
179400000 usd
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