Trane Technologies (TT) 10-Q 3 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Oct. 22, 2021
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2021
Document Transition Report	false
Entity File Number	001-34400
Entity Registrant Name	TRANE TECHNOLOGIES PLC
Entity Incorporation, State or Country Code	L2
Entity Tax Identification Number	98-0626632
Entity Address, Address Line One	170/175 Lakeview Dr.
Entity Address, Address Line Two	Airside Business Park
Entity Address, City or Town	Swords Co. Dublin
Entity Address, Country	IE
City Area Code	353
Local Phone Number	18707400
Title of 12(b) Security	Ordinary Shares, Par Value $1.00 per Share
Trading Symbol	TT
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		237,540,178
Entity Central Index Key	0001466258
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Address, Postal Zip Code	00000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Loss) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net revenues	$ 3,719.8	$ 3,495.5	$ 10,567.1	$ 9,275.6
Cost of goods sold	(2,515.6)	(2,360.8)	(7,139)	(6,420.1)
Selling and administrative expenses	(620.8)	(567.8)	(1,840.5)	(1,710.7)
Operating income	583.4	566.9	1,587.6	1,144.8
Interest expense	(57.7)	(62.4)	(177.7)	(186.8)
Other income/(expense), net	(6.9)	(4.5)	(13.8)	7.6
Earnings before income taxes	518.8	500	1,396.1	965.6
Benefit (provision) for income taxes	(96.8)	(89.9)	(268)	(224.4)
Earnings from continuing operations	422	410.1	1,128.1	741.2
Discontinued operations, net of tax	(13.3)	(5.5)	(12.6)	(120.4)
Net earnings	408.7	404.6	1,115.5	620.8
Less: Net earnings from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest	(3)	(4)	(9.9)	(9.7)
Less: Net earnings from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest	0	0	0	(0.9)
Net earnings attributable to Trane Technologies plc	405.7	400.6	1,105.6	610.2
Amounts attributable to Trane Technologies plc ordinary shareholders:
Continuing operations	419	406.1	1,118.2	731.5
Discontinued operations	(13.3)	(5.5)	(12.6)	(121.3)
Net earnings attributable to Trane Technologies plc	$ 405.7	$ 400.6	$ 1,105.6	$ 610.2
Basic:
Continuing operations	$ 1.76	$ 1.69	$ 4.68	$ 3.05
Discontinued operations	(0.06)	(0.02)	(0.06)	(0.51)
Net earnings	1.70	1.67	4.62	2.54
Diluted:
Continuing operations	1.73	1.67	4.61	3.01
Discontinued operations	(0.05)	(0.03)	(0.06)	(0.50)
Net earnings	$ 1.68	$ 1.64	$ 4.55	$ 2.51
Weighted-average shares outstanding
Basic	238.2	240.4	239.2	240
Diluted	241.7	243.7	242.8	242.7

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net earnings	$ 408.7	$ 404.6	$ 1,115.5	$ 620.8
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(67.7)	111.3	(101.4)	107.4
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	5.1	1.5	1.3	1.7
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	(7.9)	0.7	(5.1)	1.1
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax	0.5	(0.4)	1.9	0.4
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	(2.3)	1.8	(1.9)	3.2
Other Comprehensive Income (Loss), Defined Benefit Plan, Gain (Loss) Arising During Period, before Tax	0	0	0	(21.3)
Other Comprehensive (Income) Loss, Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax	9.7	10.5	29.1	32.7
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax	0	(0.1)	6.9	(3.7)
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansCurrencyTranslationBeforeTax	4.6	(6.6)	4.9	(3)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	(2.4)	(1.9)	(17.1)	(6.9)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	11.9	1.9	23.8	(2.2)
Other comprehensive income (loss)	(58.1)	115	(79.5)	108.4
Comprehensive Income, Net of Tax, Including Portion Attributable to Noncontrolling Interest	350.6	519.6	1,036	729.2
Comprehensive Income, Net of Tax, Attributable to Noncontrolling Interest	(1.9)	(3.9)	(8.1)	(12.7)
Comprehensive Income, Net of Tax, Attributable to Parent	$ 348.7	$ 515.7	$ 1,027.9	$ 716.5

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents	$ 2,738.8	$ 3,289.9
Accounts and notes receivable, net	2,432.3	2,202.1
Inventories	1,482.8	1,189.2
Other current assets	337.5	224.4
Total current assets	6,991.4	6,905.6
Property, plant and equipment, net	1,336.7	1,349.5
Goodwill	5,310.1	5,342.8
Intangible assets, net	3,198.4	3,286.4
Other noncurrent assets	1,365.6	1,272.4
Total assets	18,202.2	18,156.7
LIABILITIES AND EQUITY
Accounts payable	1,757.8	1,520.2
Accrued compensation and benefits	462.4	451.1
Accrued expenses and other current liabilities	1,742.9	1,592
Short-term borrowings and current maturities of long-term debt	350.4	775.6
Total current liabilities	4,313.5	4,338.9
Long-term debt	4,490.7	4,496.5
Postemployment and other benefit liabilities	977.1	1,024.6
Deferred and noncurrent income taxes	598.9	578.5
Other noncurrent liabilities	1,334.3	1,291.1
Total liabilities	11,714.5	11,729.6
Equity:
Ordinary shares	262	263.3
Treasury Stock, Value	(1,719.4)	(1,719.4)
Capital in excess of par value	15.2	0
Retained earnings	8,626.5	8,495.3
Accumulated other comprehensive income (loss)	(709.2)	(631.5)
Total Trane Technologies plc shareholders’ equity	6,475.1	6,407.7
Noncontrolling interests	12.6	19.4
Total equity	6,487.7	6,427.1
Total liabilities and equity	$ 18,202.2	$ 18,156.7

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Ordinary shares	Ordinary shares held in treasury, at cost	Capital in excess of par value	Retained earnings	Accumulated  other comprehensive income (loss)	Noncontrolling Interests
Beginning balance at Dec. 31, 2019	$ 7,312.4	$ 262.8	$ (1,719.4)	$ 0	$ 9,730.8	$ (1,006.6)	$ 44.8
Beginning balance (shares) at Dec. 31, 2019		262.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	(25.9)				(29.2)		3.3
Other comprehensive income (loss)	(58.6)					(58.7)	0.1
Shares issued under incentive stock plans		$ (0.9)
Shares issued under incentive stock plans (shares)		0.9
Stock Issued During Period, Value, Stock Options Exercised, net of tax remittances	(5.6)			(6.5)
Share-based compensation	27.6			29	(1.4)
Dividends declared to noncontrolling interest	(6.1)						(6.1)
Investment by JV Partner	7			3.9			3.1
Cash dividends declared	126.7				126.7
Stockholders' Equity Note, Spinoff Transaction	(1,334.3)				(1,445.6)	139.3	(28)
Ending balance (shares) at Mar. 31, 2020		263.7
Ending balance at Mar. 31, 2020	5,789.8	$ 263.7	(1,719.4)	26.4	8,127.9	(926)	17.2
Beginning balance at Dec. 31, 2019	7,312.4	$ 262.8	(1,719.4)	0	9,730.8	(1,006.6)	44.8
Beginning balance (shares) at Dec. 31, 2019		262.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	620.8
Other comprehensive income (loss)	108.4					106.3
Stockholders' Equity Note, Spinoff Transaction						139.3
Ending balance (shares) at Sep. 30, 2020		264.5
Ending balance at Sep. 30, 2020	6,381	$ 264.5	(1,719.4)	93.3	8,489.3	(761)	14.3
Beginning balance at Mar. 31, 2020	5,789.8	$ 263.7	(1,719.4)	26.4	8,127.9	(926)	17.2
Beginning balance (shares) at Mar. 31, 2020		263.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	242.1				238.8		3.3
Other comprehensive income (loss)	52					49.9	2.1
Shares issued under incentive stock plans	(3.7)	$ (0.1)		(3.6)
Shares issued under incentive stock plans (shares)		0.1
Share-based compensation	16			16.5	(0.5)
Cash dividends declared	254				254
Stockholders' Equity Note, Spinoff Transaction	(17.2)				(17.2)
Ending balance (shares) at Jun. 30, 2020		263.8
Ending balance at Jun. 30, 2020	5,832.4	$ 263.8	(1,719.4)	46.5	8,095	(876.1)	22.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	404.6				400.6		4
Other comprehensive income (loss)	115					115.1	(0.1)
Shares issued under incentive stock plans	(35.5)	$ (0.7)		(34.8)
Shares issued under incentive stock plans (shares)		0.7
Share-based compensation	11.6			12	(0.4)
Dividends declared to noncontrolling interest	(12.2)						(12.2)
Cash dividends declared					0
Stockholders' Equity Note, Spinoff Transaction	(5.9)				(5.9)
Ending balance (shares) at Sep. 30, 2020		264.5
Ending balance at Sep. 30, 2020	6,381	$ 264.5	(1,719.4)	93.3	8,489.3	(761)	14.3
Beginning balance at Dec. 31, 2020	6,427.1	$ 263.3	$ (1,719.4)	0	8,495.3	(631.5)	19.4
Beginning balance (shares) at Dec. 31, 2020		263.3	24.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	237.8				235.2		2.6
Other comprehensive income (loss)	(70.7)					(68.3)	(2.4)
Shares issued under incentive stock plans		$ (1)
Shares issued under incentive stock plans (shares)		1
Stock Issued During Period, Value, Stock Options Exercised, net of tax remittances	(7)			(8)
Repurchase of ordinary shares	(104.2)	$ (0.7)		(16.7)	(86.8)
Repurchase of ordinary shares (shares)		(0.7)
Share-based compensation	24.2			24.7	(0.5)
Dividends declared to noncontrolling interest	(3.5)						(3.5)
Cash dividends declared	141				141
Stockholders' Equity Note, Spinoff Transaction	(49.9)				(49.9)
Ending balance (shares) at Mar. 31, 2021		263.6
Ending balance at Mar. 31, 2021	6,312.8	$ 263.6	$ (1,719.4)	0	8,452.3	(699.8)	16.1
Beginning balance at Dec. 31, 2020	6,427.1	$ 263.3	$ (1,719.4)	0	8,495.3	(631.5)	19.4
Beginning balance (shares) at Dec. 31, 2020		263.3	24.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	1,115.5
Other comprehensive income (loss)	(79.5)					(77.7)
Repurchase of ordinary shares (shares)		(3.4)	0
Ending balance (shares) at Sep. 30, 2021		262	24.5
Ending balance at Sep. 30, 2021	6,487.7	$ 262	$ (1,719.4)	15.2	8,626.5	(709.2)	12.6
Beginning balance at Mar. 31, 2021	6,312.8	$ 263.6	(1,719.4)	0	8,452.3	(699.8)	16.1
Beginning balance (shares) at Mar. 31, 2021		263.6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	469				464.7		4.3
Other comprehensive income (loss)	49.3					47.6	1.7
Shares issued under incentive stock plans	(25.7)	$ (0.5)		(25.2)
Shares issued under incentive stock plans (shares)		0.5
Repurchase of ordinary shares	(250)	$ (1.4)		(40)	(208.6)
Repurchase of ordinary shares (shares)		(1.4)
Share-based compensation	13.9			14.8	(0.9)
Dividends declared to noncontrolling interest	(6.7)						(6.7)
Cash dividends declared	281.4				281.4
Ending balance (shares) at Jun. 30, 2021		262.7
Ending balance at Jun. 30, 2021	6,332.6	$ 262.7	$ (1,719.4)	0	8,426.1	(652.2)	15.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	408.7				405.7		3
Other comprehensive income (loss)	(58.1)					(57)	(1.1)
Shares issued under incentive stock plans	(43.1)	$ (0.6)
Shares issued under incentive stock plans (shares)		0.6
Stock Issued During Period, Value, Stock Options Exercised, net of tax remittances				(42.5)
Repurchase of ordinary shares	(246)	$ (1.3)		(40)	(204.7)
Repurchase of ordinary shares (shares)		(1.3)
Share-based compensation	11.9			12.6	(0.7)
Dividends declared to noncontrolling interest	(4.7)						(4.7)
Other	(0.2)			(0.1)	(0.1)
Ending balance (shares) at Sep. 30, 2021		262	24.5
Ending balance at Sep. 30, 2021	$ 6,487.7	$ 262	$ (1,719.4)	$ 15.2	$ 8,626.5	$ (709.2)	$ 12.6

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net earnings	$ 1,115.5	$ 620.8
Discontinued operations, net of tax	12.6	120.4
Adjustments for non-cash transactions:
Depreciation and amortization	223	223.7
Pension and Other Postretirement Benefits Expense (Reversal of Expense), Noncash	40.4	49.6
Stock settled share-based compensation	52.2	57.5
Changes in assets and liabilities, net of the effects of acquisitions	(258.9)	49.4
Other non-cash items, net	(22.2)	11.5
Net cash provided by (used in) continuing operating activities	1,162.6	1,132.9
Net cash provided by (used in) discontinued operating activities	(1.4)	(324.8)
Net cash provided by (used in) operating activities	1,161.2	808.1
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment	(121.6)	(89.1)
Acquisitions of businesses, net of cash acquired	(18)	(2.5)
Cash Divested from Deconsolidation	0	(10.8)
Other investing activities, net	(69.2)	1.3
Net cash provided by (used in) continuing investing activities	(208.8)	(101.1)
Net cash provided by (used in) discontinued investing activities	0	(37.7)
Net cash provided by (used in) investing activities	(208.8)	(138.8)
Cash flows from financing activities:
Payments of long-term debt	(432.5)	(307.5)
Debt issuance costs	2.6	3.6
Dividends paid to ordinary shareholders	(421.9)	(380.3)
Dividends paid to noncontrolling interests	(14.9)	(18.3)
Proceeds (payments) from shares issued under incentive plans, net	61.8	33.6
Repurchase of ordinary shares	(600.2)	0
Settlement related to special cash payment	(49.5)
Receipt of a special cash payment		1,900
Other financing, net	(5.2)	7
Net cash provided by (used in) continuing financing activities	(1,465)	1,230.9
Effect of exchange rate changes on cash and cash equivalents	(38.5)	11.3
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(551.1)	1,911.5
Cash and cash equivalents - beginning of period	3,289.9	1,278.6
Cash and cash equivalents - end of period	$ 2,738.8	$ 3,190.1

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Trane Technologies plc, a public limited company incorporated in Ireland in 2009, and its consolidated subsidiaries (collectively, the Company), is a global climate innovator that brings efficient and sustainable climate solutions to buildings, homes and transportation driven by strategic brands Trane ® and Thermo King ® and an environmentally responsible portfolio of products and services. The accompanying unaudited Condensed Consolidated Financial Statements of Trane Technologies plc reflects the consolidated operations of the Company and have been prepared in accordance with United States Securities and Exchange Commission (SEC) interim reporting requirements. Accordingly, the accompanying Condensed Consolidated Financial Statements do not include all disclosures required by accounting principles generally accepted in the United States of America (GAAP) for full financial statements and should be read in conjunction with the consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2020. In the opinion of management, the accompanying Condensed Consolidated Financial Statements contain all adjustments, which include only normal recurring adjustments, necessary to fairly state the condensed consolidated results for the interim periods presented. Reorganization of Aldrich and Murray 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 Condensed Consolidated Financial Statements. However, 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. 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 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 Condensed Consolidated Financial Statements. Refer to Note 20, "Commitments and Contingencies," for more information regarding the status of Chapter 11 bankruptcy and asbestos-related matters. Revision for Correction of an Error in Previously Issued Interim Financial Statements Cash dividends declared for the three months ended June 30, 2021, June 30, 2020 and September 30, 2020 have been revised by $140.1 million (from $141.3 million to $281.4 million), by $127.1 million (from $126.9 million to $254.0 million) and by $127.1 million (from $127.1 million to $0), respectively, in the Condensed Consolidated Statements of Equity to correct the accounting for cash dividends declared on June 3, 2021 and June 5, 2020 and paid on September 30, 2021 and 2020. The revision had no impact on the Company’s Condensed Consolidated Statements of Cash Flows for any period and the revision had no impact on the ending Retained Earnings balance as of September 30, 2021 and September 30, 2020.

Completion of Reverse Morris Tr

Completion of Reverse Morris Trust Transaction	9 Months Ended
	Sep. 30, 2021
Completion of Reverse Morris Trust Transaction [Abstract]
Completion of Reverse Morris Trust Transaction [Text Block]	Completion of Reverse Morris Trust Transaction 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. 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 Company’s existing shareholders received 50.1% of the shares of Ingersoll Rand common stock on a fully-diluted basis and Gardner Denver stockholders retained 49.9% of the shares of Ingersoll Rand on a fully diluted basis. As a result, the Company’s 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, Ingersoll-Rand Services Company, an affiliate of Ingersoll Rand Industrial, borrowed an aggregate principal amount of $1.9 billion under a senior secured first lien term loan facility (Term Loan), the proceeds of which were used to make a special cash payment of $1.9 billion to a subsidiary of the Company. The obligations under the Term Loan were retained by Ingersoll-Rand Services Company, which following the Transaction is a wholly-owned subsidiary of Ingersoll Rand. During the nine months ended September 30, 2021, the Company paid Ingersoll Rand $49.5 million to settle certain items related to the Transaction. The Company recorded the $49.5 million settlement as a reduction to Retained earnings during the first quarter of 2021. 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. Discontinued Operations

Recent Accounting Pronouncement

Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2021
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recently Accounting Pronouncements	Recent Accounting Pronouncements The Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) is the sole source of authoritative GAAP other than SEC issued rules and regulations that apply only to SEC registrants. The FASB issues an Accounting Standards Update (ASU) to communicate changes to the codification. The Company considers the applicability and impact of all ASU's. ASU's not listed below were assessed and determined to be either not applicable or are not expected to have a material impact on the Condensed Consolidated Financial Statements. Recently Adopted Accounting Pronouncements In December 2019, the FASB issued ASU 2019-12, "Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes" (ASU 2019-12), which simplifies certain aspects of income tax accounting guidance in ASC 740, reducing the complexity of its application. Certain exceptions to ASC 740 presented within the ASU include: intraperiod tax allocation, deferred tax liabilities related to outside basis differences and year-to-date loss in interim periods, among others. ASU 2019-12 is effective for annual reporting periods beginning after December 15, 2020 including interim periods therein with early adoption permitted. The Company adopted this standard on January 1, 2021 with no material impact on its financial statements.

Inventories

Inventories	9 Months Ended
	Sep. 30, 2021
Inventory, Net [Abstract]
Inventories	Inventories Depending on the business, U.S. inventories are stated at the lower of cost or market using the last-in, first-out (LIFO) method or the lower of cost and net realizable value (NRV) using the first-in, first-out (FIFO) method. Non-U.S. inventories are primarily stated at the lower of cost and NRV using the FIFO method. The major classes of inventory were as follows: In millions September 30, December 31, Raw materials $ 417.2 $ 305.0 Work-in-process 204.8 163.9 Finished goods 913.1 761.4 1,535.1 1,230.3 LIFO reserve (52.3) (41.1) Total $ 1,482.8 $ 1,189.2 The Company performs periodic assessments to determine the existence of obsolete, slow-moving and non-saleable inventories and records necessary provisions to reduce such inventories to NRV. Reserve balances, primarily related to obsolete and slow-moving inventories, were $85.4 million and $85.6 million at September 30, 2021 and December 31, 2020, respectively.

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2021
Goodwill Abstract
Goodwill	Goodwill The changes in the carrying amount of goodwill for the nine months ended September 30, 2021 were as follows: In millions Americas EMEA Asia Pacific Total Net balance as of December 31, 2020 $ 3,980.0 $ 793.5 $ 569.3 $ 5,342.8 Acquisitions 2.7 4.2 — 6.9 Currency translation (0.7) (41.4) 2.5 (39.6) Net balance as of September 30, 2021 $ 3,982.0 $ 756.3 $ 571.8 $ 5,310.1 The net goodwill balances at September 30, 2021 and December 31, 2020 include $2,496.0 million of accumulated impairment, primarily related to the Americas segment. The accumulated impairment relates entirely to a charge recorded in 2008.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2021
Intangible Assets Abstract
Intangible Assets	Intangible Assets The gross amount of the Company’s intangible assets and related accumulated amortization were as follows: September 30, 2021 December 31, 2020 In millions Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Customer relationships $ 2,007.2 $ (1,446.1) $ 561.1 $ 2,010.2 $ (1,362.4) $ 647.8 Other 210.7 (199.7) 11.0 210.7 (199.4) 11.3 Total finite-lived intangible assets 2,217.9 (1,645.8) 572.1 2,220.9 (1,561.8) 659.1 Trademarks (indefinite-lived) 2,626.3 — 2,626.3 2,627.3 — 2,627.3 Total $ 4,844.2 $ (1,645.8) $ 3,198.4 $ 4,848.2 $ (1,561.8) $ 3,286.4 Intangible asset amortization expense was $29.0 million and $29.9 million for the three months ended September 30, 2021 and 2020, respectively. Intangible asset amortization expense was $90.7 million and $89.8 million for the nine months ended September 30, 2021 and 2020, respectively.

Debt and Credit Facilities

Debt and Credit Facilities	9 Months Ended
	Sep. 30, 2021
Debt Credit Facilities
Debt and Credit Facilities	Debt and Credit Facilities Short-term borrowings and current maturities of long-term debt consisted of the following: In millions September 30, December 31, Debentures with put feature $ 342.9 $ 342.9 2.900% Senior notes due 2021 (1) — 299.9 9.000% Debentures due 2021 (2) — 125.0 Other current maturities of long-term debt 7.5 7.8 Total $ 350.4 $ 775.6 (1) The 2.900% Senior notes were repaid in February 2021. (2) The 9.000% Debentures were repaid in August 2021. Commercial Paper Program The Company uses borrowings under its commercial paper program for general corporate purposes. The maximum aggregate amount of unsecured commercial paper notes available to be issued, on a private placement basis, under the commercial paper program is $2.0 billion. The Company had no outstanding balance under its commercial paper program as of September 30, 2021 and December 31, 2020. Debentures with Put Feature At September 30, 2021 and December 31, 2020, the Company had $342.9 million of fixed rate debentures outstanding which contain a put feature that the holders may exercise on each anniversary of the issuance date. If exercised, the Company is obligated to repay in whole or in part, at the holder’s option, the outstanding principal amount of the debentures plus accrued interest. If these options are not exercised, the final contractual maturity dates would range between 2027 and 2028. Holders of these debentures had the option to exercise the put feature on $37.2 million of the outstanding debentures in February 2021, subject to the notice requirement. No exercises were made. Long-term debt , excluding current maturities, consisted of the following: In millions September 30, December 31, 4.250% Senior notes due 2023 $ 698.9 $ 698.4 7.200% Debentures due 2021-2025 22.4 29.9 3.550% Senior notes due 2024 497.8 497.3 6.480% Debentures due 2025 149.7 149.7 3.500% Senior notes due 2026 397.7 397.3 3.750% Senior notes due 2028 546.1 545.6 3.800% Senior notes due 2029 744.9 744.4 5.750% Senior notes due 2043 494.9 494.7 4.650% Senior notes due 2044 296.2 296.1 4.300% Senior notes due 2048 296.3 296.2 4.500% Senior notes due 2049 345.8 345.7 Other loans and notes — 1.2 Total $ 4,490.7 $ 4,496.5 Other Credit Facilities On June 18, 2021, the Company entered into a new $1.0 billion senior unsecured revolving credit facility which matures in June 2026 (2026 Credit Facility) and terminated its $1.0 billion facility set to expire in March 2022. On September 24, 2021, the Company amended its other $1.0 billion senior unsecured revolving credit facility which matures in April 2023 (2023 Credit Facility) primarily to conform the interest rate provisions in the 2023 Credit Facility to the terms included in the 2026 Credit Facility. As a result, the Company maintains two $1.0 billion senior unsecured revolving credit facilities (collectively, the Facilities) through its wholly-owned subsidiaries, Trane Technologies HoldCo Inc., Trane Technologies Global Holding Company Limited and Trane Technologies Financing Limited (collectively, the Borrowers). The covenants under the 2026 Credit Facility are substantially the same as the covenants under the 2023 Credit Facility. The terms of the 2026 Credit Facility include Environmental, Social, and Governance (ESG) metrics related to two of the Company’s sustainability commitments: a reduction in greenhouse gas intensity and an increase in the percentage of women in management. The Company's annual performance against these ESG metrics may result in price adjustments to the commitment fee and applicable interest rate. Each senior unsecured credit facility provides support for the Company's commercial paper program and can be used for working capital and other general corporate purposes. Trane Technologies plc, Trane Technologies Irish Holdings Unlimited Company, Trane Technologies Lux International Holding Company S.à.r.l. and Trane Technologies Company LLC each provide irrevocable and unconditional guarantees for these Facilities. In addition, each Borrower will guarantee the obligations under the Facilities of the other Borrowers. Total commitments of $2.0 billion were unused at September 30, 2021 and December 31, 2020. Fair Value of Debt

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2021
Financial Instruments Abstract
Financial Instruments	Financial Instruments In the normal course of business, the Company is exposed to certain risks arising from business operations and economic factors. These fluctuations can increase the cost of financing, investing and operating the business. The Company uses various financial instruments, including derivative instruments, to manage the risks associated with interest rate, commodity price and foreign currency exposures. These financial instruments are not used for trading or speculative purposes. The Company recognizes all derivatives in the Condensed Consolidated Balance Sheets at their fair value as either assets or liabilities. On the date a derivative contract is entered into, the Company designates the derivative instrument as a cash flow hedge of a forecasted transaction or as an undesignated derivative. The Company formally documents its hedge relationships, including identification of the derivative instruments and the hedged items, as well as its risk management objectives and strategies for undertaking the hedge transaction. This process includes linking derivative instruments that are designated as hedges to specific assets, liabilities or forecasted transactions. The Company assesses at inception and at least quarterly thereafter, whether the derivatives used in cash flow hedging transactions are highly effective in offsetting the changes in the cash flows of the hedged item. To the extent the derivative is deemed to be a highly effective hedge, the fair market value changes of the instrument are recorded to Accumulated other comprehensive income (loss) (AOCI). If the hedging relationship ceases to be highly effective, or it becomes probable that a forecasted transaction is no longer expected to occur, the hedging relationship will be undesignated and any future gains and losses on the derivative instrument will be recorded in Net earnings . The fair values of derivative instruments included within the Condensed Consolidated Balance Sheets were as follows: Derivative assets Derivative liabilities In millions September 30, December 31, September 30, December 31, Derivatives designated as hedges: Currency derivatives $ 0.1 $ 0.7 $ 2.2 $ 1.7 Commodity derivatives 6.6 — 0.1 — Derivatives not designated as hedges: Currency derivatives 9.0 1.5 10.2 4.8 Total derivatives $ 15.7 $ 2.2 $ 12.5 $ 6.5 Asset and liability derivatives included in the table above are recorded within Other current assets and Accrued expenses and other current liabilities , respectively. Currency Derivative Instruments The notional amount of the Company’s currency derivatives was $0.5 billion at both September 30, 2021 and December 31, 2020. At September 30, 2021 and December 31, 2020, a net loss of $1.8 million and $0.7 million, net of tax, respectively, was included in AOCI related to the fair value of the Company’s currency derivatives designated as accounting hedges. The amount expected to be reclassified into Net earnings over the next twelve months is a net loss of $1.8 million. The actual amounts that will be reclassified to Net earnings may vary from this amount as a result of changes in market conditions. Gains and losses associated with the Company’s currency derivatives not designated as hedges are recorded in Net earnings as changes in fair value occur. At September 30, 2021, the maximum term of the Company’s currency derivatives was approximately 12 months. Commodity Derivative Instruments At September 30, 2021, a net gain of $4.9 million, net of tax, was included in AOCI related to the fair market value of the Company's commodity derivatives designated as accounting hedges. A change in fair value of commodity derivative instruments deemed highly effective is included in AOCI and is reclassified to Cost of Goods Sold in the period the sale of the finished goods inventory containing the commodity impacts Net earnings . The amount expected to be reclassified into Net earnings over the next twelve months is a net gain of $4.9 million. The actual amounts that will be reclassified to Net earnings may vary from this amount as a result of changes in market conditions. At September 30, 2021, the Company has commodity contracts to hedge certain forecasted purchases through June 2022. The Company had the following outstanding contracts to hedge forecasted commodity purchases (in metric tons): Volume outstanding as of Commodity September 30, December 31, Aluminum 12,741 — Other Derivative Instruments Prior to 2015, the Company utilized forward-starting interest rate swaps and interest rate locks to manage interest rate exposure in periods prior to the anticipated issuance of certain fixed-rate debt. These instruments were designated as cash flow hedges and had a notional amount of $1.3 billion. Consequently, when the contracts were settled upon the issuance of the underlying debt, any realized gains or losses in the fair values of the instruments were deferred into AOCI. These deferred gains or losses are subsequently recognized in Interest expense over the term of the related notes. The net unrecognized gain in AOCI was $4.8 million at September 30, 2021 and $5.3 million at December 31, 2020. The net deferred gain at September 30, 2021 will continue to be amortized over the term of notes with maturities ranging from 2023 to 2044. The amount expected to be amortized over the next twelve months is a net gain of $0.7 million. The Company has no forward-starting interest rate swaps or interest rate lock contracts outstanding at September 30, 2021 or December 31, 2020. The following table represents the amounts associated with derivatives designated as hedges affecting Net earnings and AOCI for the three months ended September 30: Amount of gain (loss) Location of gain (loss) reclassified from Amount of gain (loss) In millions 2021 2020 2021 2020 Currency derivatives designated as hedges (1) $ (0.9) $ 1.5 Cost of goods sold $ 7.5 $ (0.9) Commodity derivatives designated as hedges 6.0 — Cost of goods sold 0.2 — Interest rate swaps & locks — — Interest expense 0.2 0.2 Total $ 5.1 $ 1.5 $ 7.9 $ (0.7) (1) Amounts excluded from effectiveness testing and recognized into Cost of goods sold based on changes in fair value and amortization was a gain of $0.9 million and loss of $0.5 million for the three months ended September 30, 2021 and 2020, respectively. The following table represents the amounts associated with derivatives not designated as hedges affecting Net earnings for the three months ended September 30: Location of gain (loss) recognized in Net earnings Amount of gain (loss) In millions 2021 2020 Currency derivatives - continuing Other income (expense), net $ 0.9 $ 1.6 Total $ 0.9 $ 1.6 The following table represents the amounts associated with derivatives designated as hedges affecting Net earnings and AOCI for the nine months ended September 30: Amount of gain (loss) Location of gain (loss) reclassified from Amount of gain (loss) In millions 2021 2020 2021 2020 Currency derivatives designated as hedges (1) $ (6.2) $ 1.7 Cost of goods sold $ 4.4 $ (1.6) Commodity derivatives designated as hedges 7.5 — Cost of goods sold 0.2 — Interest rate swaps & locks — — Interest expense 0.5 0.5 Total $ 1.3 $ 1.7 $ 5.1 $ (1.1) (1) Amounts excluded from effectiveness testing and recognized into Cost of goods sold based on changes in fair value and amortization was a loss of $0.7 million and $1.6 million for the nine months ended September 30, 2021 and 2020, respectively. The following table represents the amounts associated with derivatives not designated as hedges affecting Other income/(expense), net for the nine months ended September 30: Location of gain (loss) Amount of gain (loss) In millions 2021 2020 Currency derivatives - continuing Other income (expense), net $ (5.0) $ 8.4 Currency derivatives - discontinued Discontinued operations — (0.4) Total $ (5.0) $ 8.0 The gains and losses associated with the Company’s undesignated currency derivatives are materially offset in Net earnings by changes in the fair value of the underlying transactions. Concentration of Credit Risk The counterparties to the Company’s forward contracts consist of a number of investment grade major international financial institutions. The Company could be exposed to losses in the event of nonperformance by the counterparties. However, the credit ratings and the concentration of risk in these financial institutions are monitored on a continuous basis and present no significant credit risk to the Company.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Fair Value Measurements Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value hierarchy that prioritizes information used in developing assumptions when pricing an asset or liability is as follows: • Level 1: Observable inputs such as quoted prices in active markets; • Level 2: Inputs, other than quoted prices in active markets, that are observable either directly or indirectly; and • Level 3: Unobservable inputs where there is little or no market data, which requires the reporting entity to develop its own assumptions. Observable market data is required to be used in making fair value measurements when available. When inputs used to measure fair value fall within different levels of the hierarchy, the level within which the fair value measurement is categorized is based on the lowest level input that is significant to the fair value measurement. The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of September 30, 2021: In millions Fair Value Fair value measurements Level 1 Level 2 Level 3 Assets: Derivative instruments $ 15.7 $ — $ 15.7 $ — Liabilities: Derivative instruments $ 12.5 $ — $ 12.5 $ — The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2020: In millions Fair Value Fair value measurements Level 1 Level 2 Level 3 Assets: Derivative instruments $ 2.2 $ — $ 2.2 $ — Liabilities: Derivative instruments $ 6.5 $ — $ 6.5 $ — Derivative instruments include forward foreign currency contracts and instruments related to non-functional currency balance sheet exposures and commodity swaps. The fair value of the foreign exchange derivatives is determined based on a pricing model that uses spot rates and forward prices from actively quoted currency markets that are readily accessible and observable. The fair value of the commodity derivatives is valued under a market approach using published prices, where applicable, or dealer quotes. The carrying values of cash and cash equivalents, accounts receivable, and accounts payable are a reasonable estimate of their fair value due to the short-term nature of these instruments. There have been no transfers between levels of the fair value hierarchy.

Pensions and Postretirement Ben

Pensions and Postretirement Benefits Other than Pensions	9 Months Ended
	Sep. 30, 2021
Retirement Benefits, Description [Abstract]
Pensions and Postretirement Benefits Other than Pensions	Pensions and Postretirement Benefits Other than Pensions The Company sponsors several U.S. defined benefit and defined contribution plans covering substantially all of the Company's U.S. employees. Additionally, the Company has many non-U.S. defined benefit and defined contribution plans covering eligible non-U.S. employees. Postretirement benefits other than pensions (OPEB) provide healthcare benefits, and in some instances, life insurance benefits for certain eligible employees. Pension Plans The noncontributory defined benefit pension plans covering non-collectively bargained U.S. employees provide benefits on a final average pay formula while plans for most collectively bargained U.S. employees provide benefits on a flat dollar benefit formula or a percentage of pay formula. The non-U.S. pension plans generally provide benefits based on earnings and years of service. The Company also maintains additional other supplemental plans for officers and other key or highly compensated employees. The components of the Company’s net periodic pension benefit cost for the three and nine months ended September 30 were as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Service cost $ 12.6 $ 10.3 $ 38.2 $ 44.0 Interest cost 14.7 20.2 44.0 63.2 Expected return on plan assets (26.5) (29.8) (79.7) (91.3) Net amortization of: Prior service costs 1.3 1.3 3.8 4.0 Net actuarial (gains) losses 8.9 11.4 26.8 33.0 Net periodic pension benefit cost $ 11.0 $ 13.4 $ 33.1 $ 52.9 Net curtailment and settlement (gains) losses — (0.1) 6.9 (3.7) Net periodic pension benefit cost after net curtailment and settlement (gains) losses $ 11.0 $ 13.3 $ 40.0 $ 49.2 Amounts recorded in continuing operations: Operating income $ 11.8 $ 9.2 $ 35.5 $ 38.7 Other income/(expense), net (1.8) 3.7 1.4 6.8 Amounts recorded in discontinued operations 1.0 0.4 3.1 3.7 Total $ 11.0 $ 13.3 $ 40.0 $ 49.2 The Company made contributions to its defined benefit pension plans of $47.1 million and $90.5 million during the nine months ended September 30, 2021 and 2020, respectively. The 2020 contribution included $24.4 million to fund Ingersoll Rand Industrial plans prior to the completion of the Transaction which was included within Net cash provided by (used in) discontinued operating activities on the Condensed Consolidated Statements of Cash Flows. The Company currently projects that it will contribute a total of approximately $57 million to its enterprise plans worldwide in 2021. Postretirement Benefits Other Than Pensions The Company sponsors several postretirement plans that provide for healthcare benefits, and in some instances, life insurance benefits that cover certain eligible employees. These plans are unfunded and have no plan assets, but are instead funded by the Company on a pay-as-you-go basis in the form of direct benefit payments. Generally, postretirement health benefits are contributory with contributions adjusted annually. Life insurance plans for retirees are primarily noncontributory. The components of net periodic postretirement benefit cost for the three and nine months ended September 30 were as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Service cost $ 0.6 $ 0.7 $ 1.6 $ 1.8 Interest cost 1.3 2.4 4.1 7.4 Net amortization of net actuarial (gains) losses (0.5) (2.2) (1.5) (4.3) Net periodic postretirement benefit cost $ 1.4 $ 0.9 $ 4.2 $ 4.9 Amounts recorded in continuing operations: Operating income $ 0.6 $ 0.7 $ 1.6 $ 1.8 Other income/(expense), net 0.6 0.3 1.9 2.3 Amounts recorded in discontinued operations 0.2 (0.1) 0.7 0.8 Total $ 1.4 $ 0.9 $ 4.2 $ 4.9

Equity

Equity	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Equity	Equity The authorized share capital of Trane Technologies plc is 1,185,040,000 shares, consisting of (1) 1,175,000,000 ordinary shares, par value $1.00 per share, (2) 40,000 ordinary shares, par value EUR 1.00 and (3) 10,000,000 preference shares, par value $0.001 per share. There were no Euro-denominated ordinary shares or preference shares outstanding at September 30, 2021 or December 31, 2020. Changes in ordinary shares and treasury shares for the nine months ended September 30, 2021 were as follows: In millions Ordinary shares issued Ordinary shares held in treasury December 31, 2020 263.3 24.5 Shares issued under incentive plans, net 2.1 — Repurchase of ordinary shares (3.4) — September 30, 2021 262.0 24.5 Share repurchases are made from time to time in accordance with management's capital allocation strategy, subject to market conditions and regulatory requirements. Shares acquired and canceled upon repurchase are accounted for as a reduction of Ordinary Shares and Capital in excess of par value, or Retained earnings to the extent Capital in excess of par value is exhausted. Shares acquired and held in treasury are presented separately on the balance sheet as a reduction to Equity and recognized at cost. In October 2018, the Company's Board of Directors authorized the repurchase of up to $1.5 billion of its ordinary shares under a share repurchase program (2018 Authorization). In February 2021, the Company's Board of Directors authorized the repurchase of up to $2.0 billion of its ordinary shares under a new share repurchase program (2021 Authorization) upon completion of the 2018 Authorization. During the nine months ended September 30, 2021, the Company repurchased and canceled $600.2 million of its ordinary shares thus completing the 2018 Authorization and initiating repurchases under the 2021 Authorization of $100.2 million of its ordinary shares leaving approximately $1.9 billion remaining under the 2021 Authorization. Accumulated Other Comprehensive Income (Loss) The changes in Accumulated other comprehensive income (loss) for the nine months ended September 30, 2021 were as follows: In millions Derivative Instruments Pension and OPEB Foreign Currency Translation Total Balance at December 31, 2020 $ 10.8 $ (416.5) $ (225.8) $ (631.5) Other comprehensive income (loss) attributable to Trane Technologies plc (1.9) 23.8 (99.6) (77.7) Balance at September 30, 2021 $ 8.9 $ (392.7) $ (325.4) $ (709.2) The changes in Accumulated other comprehensive income (loss) for the nine months ended September 30, 2020 were as follows: In millions Derivative Instruments Pension and OPEB Foreign Currency Translation Total Balance at December 31, 2019 $ 5.6 $ (457.4) $ (554.8) $ (1,006.6) Other comprehensive income (loss) attributable to Trane Technologies plc 3.2 (2.2) 105.3 106.3 Separation of Ingersoll Rand Industrial, net of tax — 69.1 70.2 139.3 Balance at September 30, 2020 $ 8.8 $ (390.5) $ (379.3) $ (761.0)

Revenue

Revenue	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company recognizes revenue when control of a good or service promised in a contract (i.e., performance obligation) is transferred to a customer. Control is obtained when a customer has the ability to direct the use of and obtain substantially all of the remaining benefits from that good or service. A majority of the Company's revenues are recognized at a point-in-time as control is transferred at a distinct point in time per the terms of a contract. However, a portion of the Company's revenues are recognized over time as the customer simultaneously receives control as the Company performs work under a contract. For these arrangements, the cost-to-cost input method is used as it best depicts the transfer of control to the customer that occurs as the Company incurs costs. Disaggregated Revenue Net revenues by geography and major type of good or service for the three and nine months ended September 30 were as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Americas Equipment $ 1,878.6 $ 1,837.0 $ 5,458.0 $ 4,893.6 Services and parts 1,031.7 908.8 2,749.6 2,406.4 Total Americas $ 2,910.3 $ 2,745.8 $ 8,207.6 $ 7,300.0 EMEA Equipment $ 322.7 $ 295.6 $ 996.7 $ 792.6 Services and parts 172.3 149.6 465.4 390.1 Total EMEA $ 495.0 $ 445.2 $ 1,462.1 $ 1,182.7 Asia Pacific Equipment $ 218.9 $ 208.6 $ 619.7 $ 545.5 Services and parts 95.6 95.9 277.7 247.4 Total Asia Pacific $ 314.5 $ 304.5 $ 897.4 $ 792.9 Total Net revenues $ 3,719.8 $ 3,495.5 $ 10,567.1 $ 9,275.6 Revenue from goods and services transferred to customers at a point in time accounted for approximately 81% of the Company's revenue for both the nine months ended September 30, 2021 and 2020. Contract Balances The opening and closing balances of contract assets and contract liabilities arising from contracts with customers for the period ended September 30, 2021 and December 31, 2020 were as follows: In millions September 30, December 31, 2020 Contract assets $ 366.7 $ 255.4 Contract liabilities 1,179.0 1,077.0 The timing of revenue recognition, billings and cash collections results in accounts receivable, contract assets, and customer advances and deposits (contract liabilities) on the Condensed Consolidated Balance Sheets. In general, the Company receives payments from customers based on a billing schedule established in its contracts. Contract assets relate to the conditional right to consideration for any completed performance under the contract when costs are incurred in excess of billings under the percentage-of-completion methodology. Accounts receivable are recorded when the right to consideration becomes unconditional. Contract liabilities relate to payments received in advance of performance under the contract or when the Company has a right to consideration that is unconditional before it transfers a good or service to the customer. Contract liabilities are recognized as revenue as (or when) the Company performs under the contract. During the three and nine months ended September 30, 2021, changes in contract asset and liability balances were not materially impacted by any other factors.

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share-Based Compensation	Share-Based Compensation The Company accounts for stock-based compensation plans in accordance with ASC 718, "Compensation - Stock Compensation" (ASC 718), which requires a fair-value based method for measuring the value of stock-based compensation. Fair value is measured once at the date of grant and is not adjusted for subsequent changes. The Company’s share-based compensation plans include programs for stock options, restricted stock units (RSUs), performance share units (PSUs) and deferred compensation. In connection with the completion of the Transaction, the provisions of the Company's existing share-based compensation plans required adjustment to the terms of outstanding awards in order to preserve the intrinsic value of the awards immediately before and after the separation. The outstanding awards continue to vest over the original vesting period, which is generally three years from the grant date. At the Distribution Date, the Company incurred less than $0.1 million of incremental compensation costs related to the preservation of the stock-based compensation intrinsic value post-separation. Compensation Expense Share-based compensation expense related to continuing operations is included in Selling and administrative expenses . The expense recognized for the three and nine months ended September 30 was as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Stock options $ 2.9 $ 2.6 $ 14.7 $ 15.7 RSUs 3.6 3.4 19.0 20.6 Performance shares 5.8 5.7 17.4 20.1 Deferred compensation 0.8 1.1 2.4 2.9 Other (1) (0.7) 2.6 2.4 1.4 Pre-tax expense 12.4 15.4 55.9 60.7 Tax benefit (3.0) (3.7) (13.5) (14.7) After-tax expense $ 9.4 $ 11.7 $ 42.4 $ 46.0 Amounts recorded in continuing operations 9.4 11.5 42.4 44.5 Amounts recorded in discontinued operations — 0.2 — 1.5 Total $ 9.4 $ 11.7 $ 42.4 $ 46.0 (1) Includes certain plans that have a market-based component. Grants issued during the nine months ended September 30 were as follows: 2021 2020 Number Weighted- Number Weighted- Stock options 582,657 $ 29.55 1,020,535 $ 16.75 RSUs 149,214 $ 153.53 211,307 $ 104.09 Performance shares (1) 283,412 $ 181.71 278,468 $ 140.72 (1) The number of performance shares represents the maximum award level. For stock options, RSUs and PSUs granted prior to the completion of the Transaction, the number granted and weighted average fair value reflect historical information. Stock Options / RSUs Eligible participants may receive (i) stock options, (ii) RSUs or (iii) a combination of both stock options and RSUs. The fair value of each of the Company’s stock option and RSU awards is expensed on a straight-line basis over the required service period, which is generally the 3-year vesting period. However, for stock options and RSUs granted to retirement eligible employees, the Company recognizes an expense for the entire fair value at the grant date. The average fair value of the stock options granted is determined using the Black-Scholes option-pricing model. The following assumptions were used during the nine months ended September 30: 2021 2020 Dividend yield 1.60 % 2.01 % Volatility 27.90 % 24.33 % Risk-free rate of return 0.45 % 0.56 % Expected life in years 4.8 4.8 A description of the significant assumptions used to estimate the fair value of the stock option awards is as follows: • Dividend yield - The Company determines the dividend yield based upon the expected quarterly dividend payments as of the grant date and the current fair market value of the Company’s stock. • Volatility - The expected volatility is based on a weighted average of the Company’s implied volatility and the most recent historical volatility of the Company’s stock commensurate with the expected life. • Risk-free rate of return - The Company applies a yield curve of continuous risk-free rates based upon the published U.S. Treasury spot rates on the grant date. • Expected life in years - The expected life of the Company’s stock option awards represents the weighted-average of the actual period since the grant date for all exercised or cancelled options and an expected period for all outstanding options. Performance Shares The Company has a Performance Share Program (PSP) for key employees. The program provides awards in the form of PSUs based on performance against pre-established objectives. The annual target award level is expressed as a number of the Company's ordinary shares based on the fair market value of the Company's stock on the date of grant. All PSUs are settled in the form of ordinary shares. Beginning with the 2018 grant year, PSU awards are earned based 50% upon a performance condition, measured by relative Cash Flow Return on Invested Capital (CROIC) to the S&P 500 Industrials Index over a 3-year performance period, and 50% upon a market condition, measured by the Company's relative total shareholder return (TSR) as compared to the TSR of the S&P 500 Industrials Index over a 3-year performance period. The fair value of the market condition is estimated using a Monte Carlo Simulation approach in a risk-neutral framework based upon historical volatility, risk-free rates and correlation matrix. Awards granted prior to 2018 were earned based 50% upon a performance condition, measured by relative EPS growth as compared to the industrial group of companies in the S&P 500 Index over a 3-year performance period, and 50% upon a market condition, measured by the Company's relative TSR as compared to the TSR of the industrial group of companies in the S&P 500 Index over a 3-year performance period. Deferred Compensation The Company allows key employees to defer a portion of their eligible compensation into a number of investment choices, including its ordinary share equivalents. Any amounts invested in ordinary share equivalents will be settled in ordinary shares of the Company at the time of distribution.

Restructuring Activities

Restructuring Activities	9 Months Ended
	Sep. 30, 2021
Restructuring and Related Activities [Abstract]
Restructuring and Related Activities Disclosure [Text Block]	Restructuring Activities The Company incurs costs associated with announced restructuring initiatives intended to result in improved operating performance, profitability and working capital levels. Actions associated with these initiatives may include workforce reduction, improving manufacturing productivity, realignment of management structures and rationalizing certain assets. The following table details restructuring charges recorded during the three and nine months ended September 30: Three months ended Nine months ended In millions 2021 2020 2021 2020 Americas $ 0.8 $ 6.6 $ 3.9 $ 33.2 EMEA 1.1 0.7 2.2 7.2 Asia Pacific 1.4 0.8 1.2 3.3 Corporate and Other 4.6 0.1 12.4 27.6 Total $ 7.9 $ 8.2 $ 19.7 $ 71.3 Cost of goods sold $ 1.0 $ 3.3 $ 3.6 $ 21.9 Selling and administrative expenses 6.9 4.9 16.1 49.4 Total $ 7.9 $ 8.2 $ 19.7 $ 71.3 The changes in the restructuring reserve for the nine months ended September 30, 2021 were as follows: In millions Americas EMEA Asia Pacific Corporate Total December 31, 2020 $ 12.6 $ 4.3 $ 2.0 $ 10.6 $ 29.5 Additions, net of reversals (1) 3.9 1.5 1.2 12.4 19.0 Cash paid/other (5.5) (2.2) (2.0) (17.7) (27.4) September 30, 2021 $ 11.0 $ 3.6 $ 1.2 $ 5.3 $ 21.1 (1) Excludes the accelerated depreciation on buildings and equipment ($0.7 million). During the nine months ended September 30, 2021, costs associated with announced restructuring actions primarily included the following: • costs related to workforce reductions and reorganization of resources to improve the Company's cost structure and functional transformation initiatives; • the plan to close a U.S. manufacturing facility and relocate production to another existing U.S. facility announced in 2018; and • costs related to the reorganization of resources and facilities in response to the completion of the Transaction and separation of Ingersoll Rand Industrial. Amounts recognized primarily relate to severance and exit costs. In addition, the Company also includes costs that are directly attributable to the restructuring activity but do not fall into the severance, exit or disposal categories. As of September 30, 2021, the Company had $21.1 million accrued for costs associated with its ongoing restructuring actions, of which a majority is expected to be paid within one year.

Other Income_(Expense), Net

Other Income/(Expense), Net	9 Months Ended
	Sep. 30, 2021
Other Net [Abstract]
Other, Net	Other Income/(Expense), Net The components of Other income/(expense), net for the three and nine months ended September 30 were as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Interest income/(loss) $ 0.8 $ 1.9 $ 3.0 $ 3.6 Foreign currency exchange loss (2.2) (2.5) (8.9) (8.5) Other components of net periodic benefit credit/(cost) 1.2 (3.9) (3.3) (9.0) Other activity, net (6.7) — (4.6) 21.5 Other income/(expense), net $ (6.9) $ (4.5) $ (13.8) $ 7.6 Other income/(expense), net includes the results from activities other than normal business operations such as interest income and foreign currency gains and losses on transactions that are denominated in a currency other than an entity’s functional currency. In addition, the Company includes the components of net periodic benefit credit/(cost) for pension and post retirement obligations other than the service cost component. Other activity, net primarily includes items associated with certain legal matters, as well as asbestos-related activities. During the three and nine months ended September 30, 2021, the Company recorded a charge of $7.2 million to increase its Funding Agreement liability from asbestos-related activities of Murray within other activity, net. During the nine months ended September 30, 2020, the Company recorded a $17.4 million adjustment to correct an overstatement of a legacy legal liability that originated in prior years and a gain of $0.9 million related to the deconsolidation of Murray and its wholly-owned subsidiary ClimateLabs within other activity, net. Refer to Note 20, "Commitments and Contingencies," for more information regarding asbestos-related matters.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company accounts for its Provision for income taxes in accordance with ASC 740, "Income Taxes" (ASC 740), which requires an estimate of the annual effective income tax rate for the full year to be applied to the respective interim period, taking into account year-to-date amounts and projected results for the full year. For the nine months ended September 30, 2021 and September 30, 2020, the Company's effective income tax rate was 19.2% and 23.2%, respectively. The effective income tax rate for the nine months ended September 30, 2021 was lower than the U.S. statutory rate of 21% primarily due to excess tax benefits from employee share-based payments and earnings in non-U.S. jurisdictions, which in aggregate have a lower effective tax rate, partially offset by U.S. state and local taxes. The effective tax rate for the nine months ended September 30, 2020 was higher than the U.S. statutory rate of 21% due to a $37.0 million non-cash charge to establish valuation allowances on net deferred tax assets, primarily net operating losses in certain tax jurisdictions as a result of the completion of the Transaction, U.S. state and local taxes and certain non-deductible employee expenses. These amounts were partially offset by excess tax benefits from employee share-based payments, a $3.9 million benefit primarily related to a reduction in valuation allowances on deferred taxes related to net operating losses as a result of a planned restructuring in a non-U.S. tax jurisdiction and earnings in non-U.S. jurisdictions, which in aggregate have a lower effective tax rate. The impact of the changes in the valuation allowances increased the effective tax rate by 3.4%. Total unrecognized tax benefits as of September 30, 2021 and December 31, 2020 were $66.0 million and $65.4 million, respectively. Although management believes its tax positions and related provisions reflected in the Condensed Consolidated Financial Statements are fully supportable, it recognizes that these tax positions and related provisions may be challenged by various tax authorities. These tax positions and related provisions are reviewed on an ongoing basis and are adjusted as additional facts and information become available, including progress on tax audits, changes in interpretations of tax laws, developments in case law and closing of statute of limitations. To the extent that the ultimate results differ from the original or adjusted estimates of the Company, the effect will be recorded in Provision for income taxes . The Provision for income taxes

Acquisitions and Divestitures

Acquisitions and Divestitures	9 Months Ended
	Sep. 30, 2021
Business Combinations [Abstract]
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	Acquisitions and Divestitures Acquisitions On October 15, 2021, the Company acquired 100% of Farrar Scientific Corporation's (Farrar Scientific) assets, including its patented ultra-low temperature control technologies, a development and assembly operation in Marietta, Ohio, and a specialized team of engineers, sales engineers, operators, and technicians. Farrar Scientific is a leader in ultra-low temperature control for biopharmaceutical and other life science applications. The results of Farrar Scientific will be reported within the Americas segment starting in the fourth quarter of 2021. The Company paid $250.0 million in initial cash consideration and agreed to an additional earnout payment of up to $115.0 million to be paid in 2025, tied to the attainment of key financial targets during the period January 1, 2022 through December 31, 2024. This additional payment, to the extent earned, will be payable in cash. Due to the close proximity of the acquisition date and the Company’s filing of its quarterly report on Form 10-Q for the nine months ended September 30, 2021, the initial accounting for the business combination is still in process, and therefore the Company has not disclosed the information required by ASC 805, Business Combinations. Such information will be included in the Company’s subsequent Form 10-K for the year ended December 31, 2021. During the fourth quarter of 2020, the Company acquired two independent dealers, reported within the Americas segment, to support the Company's ongoing strategy to expand its distribution network and service area. The aggregate cash paid, net of cash acquired, totaled $182.8 million and was financed through cash on hand. Intangible assets associated with these acquisitions totaled $76.9 million and primarily relate to customer relationships. The excess purchase price over the estimated fair value of net assets acquired was recognized as goodwill and totaled $131.8 million. During the nine months ended September 30, 2021, the Company completed the determination of the final allocation of the purchase price with respect to the assets acquired and liabilities assumed. The fair values of the customer relationship intangible assets were determined using the multi-period excess earnings method based on discounted projected net cash flows associated with the net earnings attributable to the acquired customer relationships. These projected cash flows are estimated over the remaining economic life of the intangible asset and are considered from a market participant perspective. Key assumptions used in estimating future cash flows included projected revenue growth rates and customer attrition rates. The projected future cash flows are discounted to present value using an appropriate discount rate. The customer relationships had a weighted-average useful life of 16 years. Divestitures The components of Discontinued operations, net of tax for the three and nine months ended September 30 were as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Net revenues $ — $ — $ — $ 469.8 Cost of goods sold — — — (315.8) Selling and administrative expenses (1.3) (0.3) (0.8) (234.4) Operating income (loss) (1.3) (0.3) (0.8) (80.4) Other income/ (expense), net (17.7) (7.4) (31.6) (50.7) Pre-tax earnings (loss) from discontinued operations (19.0) (7.7) (32.4) (131.1) Tax benefit (expense) 5.7 2.2 19.8 10.7 Discontinued operations, net of tax $ (13.3) $ (5.5) $ (12.6) $ (120.4) The table above presents the financial statement line items that support amounts included in Discontinued operations, net of tax . For the three and nine months ended September 30, 2021, Other income/(expense), net included a charge of $14.0 million to increase the Company's Funding Agreement liability from asbestos-related activities of Aldrich. For the three and nine months ended September 30, 2020, Selling and administrative expenses included pre-tax Ingersoll Rand Industrial separation costs of $2.3 million and $113.9 million, respectively, which are primarily related to legal, consulting and advisory fees. In addition, for the nine months ended September 30, 2020, Other income/(expense), net included a loss of $23.6 million related to the deconsolidation of Aldrich and its wholly-owned subsidiary 200 Park. Separation of Industrial Segment Businesses On February 29, 2020, the Company completed the Transaction with Ingersoll Rand whereby the Company separated Ingersoll Rand Industrial which then merged with a wholly-owned subsidiary of Ingersoll Rand. In accordance with GAAP, the historical results of Ingersoll Rand Industrial are presented as a discontinued operation in the Condensed Consolidated Statements of Income (Loss) and Condensed Consolidated Statements of Cash Flows. Net revenues and earnings from operations, net of tax of Ingersoll Rand Industrial for the three and nine months ended September 30 were as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Net revenues $ — $ — $ — $ 469.8 Earnings (loss) attributable to Trane Technologies plc 0.3 (0.5) 4.2 (83.0) Earnings (loss) attributable to noncontrolling interests — — — 0.9 Earnings (loss) from operations, net of tax $ 0.3 $ (0.5) $ 4.2 $ (82.1) Earnings (loss) attributable to Trane Technologies plc includes Ingersoll Rand Industrial separation costs, net of tax primarily related to legal, consulting and advisory fees of $1.8 million and $95.9 million during the three and nine months ended September 30, 2020, respectively. Other Discontinued Operations Other discontinued operations, net of tax related to retained obligations from previously sold businesses that primarily include ongoing expenses for postretirement benefits, product liability and legal costs. In addition, the Company includes asbestos-related activities of Aldrich. The components of Discontinued operations, net of tax for the three and nine months ended September 30 were as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Ingersoll Rand Industrial, net of tax $ 0.3 $ (0.5) $ 4.2 $ (82.1) Other discontinued operations, net of tax (13.6) (5.0) (16.8) (38.3) Discontinued operations, net of tax $ (13.3) $ (5.5) $ (12.6) $ (120.4) For the three and nine months ended September 30, 2021, other discontinued operations, net of tax included a charge of $14.0 million related to the increase to its potential liability under the Funding Agreement from asbestos-related activities of Aldrich. In addition, other discontinued operations, net of tax includes a loss of $23.6 million related to the deconsolidation of Aldrich and its wholly-owned subsidiary 200 Park, for the nine months ended September 30, 2020. Refer to Note 20, "Commitments and Contingencies," for more information regarding asbestos-related matters.

Earnings Per Share (EPS)

Earnings Per Share (EPS)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share (EPS)	Earnings Per Share (EPS) Basic EPS is calculated by dividing Net earnings attributable to Trane Technologies plc by the weighted-average number of ordinary shares outstanding for the applicable period. Diluted EPS is calculated after adjusting the denominator of the basic EPS calculation for the effect of all potentially dilutive ordinary shares, which in the Company’s case, includes shares issuable under share-based compensation plans. The following table summarizes the weighted-average number of ordinary shares outstanding for basic and diluted earnings per share calculations for the three and nine months months ended September 30: Three months ended Nine months ended In millions, except per share amounts 2021 2020 2021 2020 Weighted-average number of basic shares 238.2 240.4 239.2 240.0 Shares issuable under incentive stock plans 3.5 3.3 3.6 2.7 Weighted-average number of diluted shares 241.7 243.7 242.8 242.7 Anti-dilutive shares — 0.6 0.3 0.8 Dividends declared per ordinary share $ — $ — $ 1.77 $ 1.59

Business Segment Information

Business Segment Information	9 Months Ended
	Sep. 30, 2021
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company operates under three regional operating segments designed to create deep customer focus and relevance in markets around the world. Intercompany sales between segments are immaterial. • The Company's Americas segment innovates for customers in the North America and Latin America regions. The Americas segment encompasses commercial heating and cooling systems, building controls, and energy services and solutions; residential heating and cooling; and transport refrigeration systems and solutions. • The Company's EMEA segment innovates for customers in the Europe, Middle East and Africa region. The EMEA segment encompasses heating and cooling systems, services and solutions for commercial buildings, and transport refrigeration systems and solutions. • The Company's Asia Pacific segment innovates for customers throughout the Asia Pacific region. The Asia Pacific segment encompasses heating and cooling systems, services and solutions for commercial buildings and transport refrigeration systems and solutions. Management measures operating performance based on net earnings excluding interest expense, income taxes, depreciation and amortization, restructuring, unallocated corporate expenses and discontinued operations (Segment Adjusted EBITDA). Segment Adjusted EBITDA is not defined under GAAP and may not be comparable to similarly-titled measures used by other companies and should not be considered a substitute for net earnings or other results reported in accordance with GAAP. The Company believes Segment Adjusted EBITDA provides the most relevant measure of profitability as well as earnings power and the ability to generate cash. This measure is a useful financial metric to assess the Company's operating performance from period to period by excluding certain items that it believes are not representative of its core business and the Company uses this measure for business planning purposes. Segment Adjusted EBITDA also provides a useful tool for assessing the comparability between periods and the Company's ability to generate cash from operations sufficient to pay taxes, to service debt and to undertake capital expenditures because it eliminates non-cash charges such as depreciation and amortization expense. A summary of operations by reportable segment for the three and nine months ended September 30 was as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Net revenues Americas $ 2,910.3 $ 2,745.8 $ 8,207.6 $ 7,300.0 EMEA 495.0 445.2 1,462.1 1,182.7 Asia Pacific 314.5 304.5 897.4 792.9 Total Net revenues $ 3,719.8 $ 3,495.5 $ 10,567.1 $ 9,275.6 Segment Adjusted EBITDA Americas $ 566.9 $ 555.0 $ 1,571.7 $ 1,287.6 EMEA 99.4 87.6 283.4 190.1 Asia Pacific 57.3 58.5 163.8 129.2 Total Segment Adjusted EBITDA $ 723.6 $ 701.1 $ 2,018.9 $ 1,606.9 Reconciliation of Segment Adjusted EBITDA to earnings before income taxes Total Segment Adjusted EBITDA $ 723.6 $ 701.1 $ 2,018.9 $ 1,606.9 Interest expense (57.7) (62.4) (177.7) (186.8) Depreciation and amortization (72.2) (74.5) (223.0) (223.7) Restructuring costs (7.9) (8.2) (19.7) (71.3) Unallocated corporate expenses (67.0) (56.0) (202.4) (159.5) Earnings before income taxes $ 518.8 $ 500.0 $ 1,396.1 $ 965.6

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments And Contingencies Abstract
Commitments and Contingencies	Commitments and Contingencies The Company is involved in various litigation, claims and administrative proceedings, including those related to the bankruptcy proceedings for Aldrich and Murray and environmental and product liability matters. In accordance with ASC 450, "Contingencies" (ASC 450), the Company records accruals for loss contingencies when it is both probable that a liability will be incurred and the amount of the loss can be reasonably estimated. Amounts recorded for identified contingent liabilities are estimates, which are reviewed periodically and adjusted to reflect additional information when it becomes available. Subject to the uncertainties inherent in estimating future costs for contingent liabilities, except as expressly set forth in this note, management believes that any liability which may result from these legal matters would not have a material adverse effect on the financial condition, results of operations, liquidity or cash flows of the Company. Asbestos-Related Matters Certain wholly-owned subsidiaries and former companies of the Company were named as defendants in asbestos-related lawsuits in state and federal courts. In virtually all of the suits, a large number of other companies have also been named as defendants. The vast majority of those claims were filed against predecessors of Aldrich and Murray and generally allege injury caused by exposure to asbestos contained in certain historical products sold by predecessors of Aldrich or Murray, primarily pumps, boilers and railroad brake shoes. None of the Company's existing or previously-owned businesses were a producer or manufacturer of asbestos. On June 18, 2020, Aldrich and Murray each filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code 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. In addition, in connection with the Chapter 11 filings, at the request of Aldrich and Murray, the Bankruptcy Court entered an order temporarily staying all asbestos-related claims against the Trane Companies that relate to claims against Aldrich or Murray (except for asbestos-related claims for which the exclusive remedy is provided under workers' compensation statutes or similar laws). On August 23, 2021, the Bankruptcy Court entered its findings of facts and conclusions of law and order declaring that the automatic stay applies to certain asbestos related claims against the Trane Companies and enjoining such actions. As a result, all asbestos-related lawsuits against Aldrich, Murray and the Trane Companies remain stayed due to the continuance of the statutory automatic stay applicable in Chapter 11 bankruptcy cases. The goal of these Chapter 11 filings is an efficient and permanent resolution of all current and future asbestos claims through court approval of a plan of reorganization, which would establish, in accordance with section 524(g) of the Bankruptcy Code, a trust to which all asbestos claims would be channeled for resolution. Further to this goal and as discussed more fully below, Aldrich and Murray have reached an agreement in principle with the court-appointed legal representative of future asbestos claimants (the FCR) on the terms of a plan for the establishment of such a trust. Prior to the Petition Date, predecessors of each of Aldrich and Murray had been litigating asbestos-related claims brought against them. No such claims have been paid since the Petition Date, and it is not contemplated that any such claims will be paid until the end of the Chapter 11 cases. From an accounting perspective, the Company no longer has control over Aldrich and Murray as of the Petition Date as their activities are subject to review and oversight by the Bankruptcy Court. Therefore, Aldrich and its wholly-owned subsidiary 200 Park and Murray and its wholly-owned subsidiary ClimateLabs were deconsolidated as of the Petition Date and their respective assets and liabilities were derecognized from the Company's Condensed Consolidated Financial Statements. Amounts derecognized primarily related to the legacy asbestos-related liabilities and asbestos-related insurance recoveries and $41.7 million of cash. Accounting Treatment Prior to the Petition Date Historically, the Company performed a detailed analysis and projected an estimated range of the Company’s total liability for pending and unasserted future asbestos-related claims. In accordance with ASC 450, the Company recorded the liability at the low end of the range as it believed that no amount within the range was a better estimate than any other amount. Asbestos-related defense costs were excluded from the liability and were recorded separately as services were incurred. The methodology used to prepare estimates relied upon and included the following factors, among others: • the interpretation of a widely accepted forecast of the population likely to have been occupationally exposed to asbestos; • epidemiological studies estimating the number of people likely to develop asbestos-related diseases such as mesothelioma and lung cancer; • the Company’s historical experience with the filing of non-malignancy claims and claims alleging other types of malignant diseases filed against the Company relative to the number of lung cancer claims filed against the Company; • the analysis of the number of people likely to file an asbestos-related personal injury claim against the Company based on such epidemiological and historical data and the Company’s claims history; • an analysis of the Company’s pending cases, by type of disease claimed and by year filed; • an analysis of the Company’s history to determine the average settlement and resolution value of claims, by type of disease claimed; • an adjustment for inflation in the future average settlement value of claims, at a 2.5% annual inflation rate, adjusted downward to 1.0% to take account of the declining value of claims resulting from the aging of the claimant population; and • an analysis of the period over which the Company has and is likely to resolve asbestos-related claims against it in the future (projected through 2053). Prior to the Petition Date, over 73 percent of the open and active claims against the Company were non-malignant or unspecified disease claims. In addition, the Company had a number of claims that had been placed on inactive or deferred dockets and were expected to have little or no settlement value against the Company. Prior to the Petition Date, the costs associated with the settlement and defense of asbestos-related claims, insurance settlements on asbestos-related matters and the revaluation of the Company's liability for potential future claims and recoveries were included in the Condensed Consolidated Statements of Income (Loss) within continuing operations or discontinued operations depending on the business to which they relate. Income and expenses associated with asbestos-related matters of Aldrich and its predecessors were recorded within discontinued operations as they related to previously divested businesses, primarily Ingersoll-Dresser Pump, which was sold by the Company in 2000. Income and expenses associated with asbestos-related matters for Murray and its predecessors were recorded within continuing operations. The nine months ended September 30, 2020 includes a $17.4 million adjustment to correct an overstatement of a legacy legal liability that originated in prior years. There was no net income (expense) associated with these pre-Petition Date transactions for the three months ended September 30, 2021 and 2020. For the nine months ended September 30, the net income (expense) associated with these pre-Petition Date transactions was as follows: Nine months ended In millions 2021 2020 Continuing operations $ — $ 14.8 Discontinued operations — (11.2) Total $ — $ 3.6 The amounts recorded by the Company for asbestos-related liabilities and insurance-related assets were based on the most recently available information. Key assumptions underlying the estimated asbestos-related liabilities included the number of people occupationally exposed and likely to develop asbestos-related diseases such as mesothelioma and lung cancer, the number of people likely to file an asbestos-related personal injury claim against the Company, the average settlement and resolution of each claim and the percentage of claims resolved with no payment. Furthermore, predictions with respect to estimates of the liability were subject to greater uncertainty as the projection period lengthened. Other factors that affected the Company’s liability included uncertainties surrounding the litigation process from jurisdiction to jurisdiction and from case to case, reforms that might be made by state and federal courts, and the passage of state or federal tort reform legislation. The aggregate amount of the stated limits in insurance policies available to Aldrich and Murray for asbestos-related claims acquired, over many years and from many different carriers, is substantial. However, as a result of limitations in that coverage, the projected total liability to claimants substantially exceeds the probable insurance recovery. Accounting Treatment After the Petition Date Upon deconsolidation, the Company recorded its retained interest in Aldrich and Murray at fair value within Other noncurrent assets in the Condensed Consolidated Balance Sheet. In determining the fair value of its equity investment, the Company used a market-adjusted multiple of earnings valuation technique. As a result, the Company recorded an aggregate equity investment of $53.6 million as of the Petition Date. Simultaneously, the Company recognized a liability of $248.8 million within Other noncurrent liabilities in the Condensed Consolidated Balance Sheet related to its obligation under the Funding Agreements. The liability was based on asbestos related liabilities and insurance related assets balances previously recorded by the Company prior to the Petition Date. As a result of the deconsolidation, the Company recognized an aggregate loss of $22.7 million in its Condensed Consolidated Statements of Income (Loss) during the second quarter of 2020. A gain of $0.9 million related to Murray and its wholly-owned subsidiary ClimateLabs was recorded within Other income/ (expense), net and a loss of $23.6 million related to Aldrich and its wholly-owned subsidiary 200 Park was recorded within Discontinued operations, net of tax . Additionally, the deconsolidation resulted in an investing cash outflow of $41.7 million in the Company's Condensed Consolidated Statements of Cash Flows, of which $10.8 million was recorded within continuing operations during the second quarter of 2020. On August 26, 2021, the Company announced that Aldrich and Murray reached an agreement in principle with the court-appointed legal representative of the FCR in the bankruptcy proceedings. The agreement in principle includes the key terms for the permanent resolution of all current and future asbestos claims against Aldrich and Murray pursuant to a plan of reorganization (the Plan). Under the agreed terms, the Plan would create a trust pursuant to section 524(g) of the Bankruptcy Code and establish claims resolution procedures for all current and future claims against Aldrich and Murray (Asbestos Claims). On the effective date of the Plan, Aldrich and Murray would fund the trust with $545.0 million, comprised of $540.0 million in cash and a promissory note to be issued by Aldrich and Murray to the trust in the principal amount of $5.0 million, and the Asbestos Claims would be channeled to the trust for resolution in accordance with the claims resolution procedures. Following the effective date of the Plan, Aldrich and Murray, would have no further obligations with respect to the Asbestos Claims. The FCR has agreed to support such Plan. The agreement in principle with the FCR is subject to final documentation and is conditioned on arrangements acceptable to Aldrich and Murray with respect to their asbestos insurance assets. It is currently contemplated that the asbestos insurance assets of Aldrich and Murray would be contributed to the trust, and that, in consideration of their cash contribution to the trust, Aldrich and Murray would have the exclusive right to pursue, collect and retain all insurance reimbursements available in connection with the resolution of Asbestos Claims by the trust. The committee representing current asbestos claimants (the ACC) is not a party to the agreement in principle. Any settlement and its implementation in a plan of reorganization is subject to the approval of the Bankruptcy Court, and there can be no assurance that the Bankruptcy Court will approve the agreement on the terms proposed. On September 24, 2021, Aldrich and Murray filed the Plan with the Bankruptcy Court. The Plan is supported by, and reflects the previously announced agreement in principle reached with the FCR. In connection with the Plan, Aldrich and Murray filed a motion with the Bankruptcy Court to create a $270.0 million trust intended to constitute a Qualified Settlement Fund (QSF Trust). The funds held in the QSF Trust would be available to provide funding for the Section 524(g) Trust upon effectiveness of the Plan. If approved by the Bankruptcy Court and other conditions are satisfied, the QSF Trust is expected to be funded prior to January 31, 2022. At this point in the Chapter 11 cases of Aldrich and Murray, it is not possible to predict whether the Bankruptcy Court will approve the terms of the Plan, what the extent of the asbestos liability will be or how long the Chapter 11 cases will last. During the three and nine months ended September 30, 2021, in connection with the above noted agreement in principle reached by Aldrich and Murray with the FCR and the motion to create a $270.0 million QSF Trust, the Company recorded a charge of $21.2 million to increase its Funding Agreement liability to $270.0 million. The corresponding charge was bifurcated between Other income/ (expense), net of $7.2 million relating to Murray and discontinued operations of $14.0 million relating to Aldrich. Furthermore, in connection with the 2020 Corporate Restructuring, Aldrich, Murray and their respective subsidiaries entered into several agreements with subsidiaries of the Company to ensure they each have access to services necessary for the effective operation of their respective businesses and access to capital to address any liquidity needs that arise as a result of working capital requirements or timing issues. In addition, the Company regularly transacts business with Aldrich and its wholly-owned subsidiary 200 Park and Murray and its wholly-owned subsidiary ClimateLabs. As of the Petition Date, these entities are considered related parties and post-deconsolidation activity between the Company and them are reported as third party transactions and are reflected within the Company's Condensed Consolidated Statements of Income (Loss). Since the Petition Date, there were no material transactions between the Company and these entities. Environmental Matters The Company continues to be dedicated to environmental and sustainability programs to minimize the use of natural resources, and reduce the utilization and generation of hazardous materials from our manufacturing processes and to remediate identified environmental concerns. As to the latter, the Company is currently engaged in site investigations and remediation activities to address environmental cleanup from past operations at current and former manufacturing facilities. The Company is sometimes a party to environmental lawsuits and claims and has received notices of potential violations of environmental laws and regulations from the Environmental Protection Agency and similar state authorities. It has also been identified as a potentially responsible party (PRP) for cleanup costs associated with off-site waste disposal at federal Superfund and state remediation sites. For all such sites, there are other PRPs and, in most instances, the Company’s involvement is minimal. In estimating its liability, the Company has assumed it will not bear the entire cost of remediation of any site to the exclusion of other PRPs who may be jointly and severally liable. The ability of other PRPs to participate has been taken into account, based on the Company's understanding of the parties’ financial condition and probable contributions on a per site basis. Additional lawsuits and claims involving environmental matters are likely to arise from time to time in the future. Reserves for environmental matters are classified as Accrued expenses and other current liabilities or Other noncurrent liabilities based on their expected payment date. As of September 30, 2021 and December 31, 2020, the Company has recorded reserves for environmental matters of $39.6 million and $39.9 million, respectively. Of these amounts, $36.5 million and $37.5 million, respectively, relate to remediation of sites previously disposed of by the Company. Warranty Liability Standard product warranty accruals are recorded at the time of sale and are estimated based upon product warranty terms and historical experience. The Company assesses the adequacy of its liabilities and will make adjustments as necessary based on known or anticipated warranty claims, or as new information becomes available. The changes in the standard product warranty liability for the nine months ended September 30 were as follows: In millions 2021 Balance at beginning of period $ 282.7 Reductions for payments (89.8) Accruals for warranties issued during the current period 100.4 Changes to accruals related to preexisting warranties 1.2 Translation (1.6) Balance at end of period $ 292.9 Standard product warranty liabilities are classified as Accrued expenses and other current liabilities or Other noncurrent liabilities based on their expected payment date. The Company's total current standard product warranty reserve at September 30, 2021 and December 31, 2020 was $112.5 million and $127.7 million, respectively. Warranty Deferred Revenue The Company's extended warranty liability represents the deferred revenue associated with its extended warranty contracts and is amortized into Net revenues on a straight-line basis over the life of the contract, unless another method is more representative of the costs incurred. The Company assesses the adequacy of its liability by evaluating the expected costs under its existing contracts to ensure these expected costs do not exceed the extended warranty liability. The changes in the extended warranty liability for the nine months ended September 30 were as follows: In millions 2021 Balance at beginning of period $ 304.4 Amortization of deferred revenue for the period (89.8) Additions for extended warranties issued during the period 88.5 Changes to accruals related to preexisting warranties 9.8 Translation (0.8) Balance at end of period $ 312.1 The extended warranty liability is classified as Accrued expenses and other current liabilities or Other noncurrent liabilities based on the timing of when the deferred revenue is expected to be amortized into revenue. The Company's total current extended warranty liability at September 30, 2021 and December 31, 2020 was $107.7 million and $108.6 million, respectively.

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory, Net [Abstract]
MajorClassesOfInventory [Table Text Block]	The major classes of inventory were as follows: In millions September 30, December 31, Raw materials $ 417.2 $ 305.0 Work-in-process 204.8 163.9 Finished goods 913.1 761.4 1,535.1 1,230.3 LIFO reserve (52.3) (41.1) Total $ 1,482.8 $ 1,189.2

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill Abstract
Changes in Goodwill Carrying Amounts	The changes in the carrying amount of goodwill for the nine months ended September 30, 2021 were as follows: In millions Americas EMEA Asia Pacific Total Net balance as of December 31, 2020 $ 3,980.0 $ 793.5 $ 569.3 $ 5,342.8 Acquisitions 2.7 4.2 — 6.9 Currency translation (0.7) (41.4) 2.5 (39.6) Net balance as of September 30, 2021 $ 3,982.0 $ 756.3 $ 571.8 $ 5,310.1 The net goodwill balances at September 30, 2021 and December 31, 2020 include $2,496.0 million of accumulated impairment, primarily related to the Americas segment. The accumulated impairment relates entirely to a charge recorded in 2008.

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2021
Intangible Assets Abstract
Schedule of Intangible Asset Net of Goodwill	The gross amount of the Company’s intangible assets and related accumulated amortization were as follows: September 30, 2021 December 31, 2020 In millions Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Customer relationships $ 2,007.2 $ (1,446.1) $ 561.1 $ 2,010.2 $ (1,362.4) $ 647.8 Other 210.7 (199.7) 11.0 210.7 (199.4) 11.3 Total finite-lived intangible assets 2,217.9 (1,645.8) 572.1 2,220.9 (1,561.8) 659.1 Trademarks (indefinite-lived) 2,626.3 — 2,626.3 2,627.3 — 2,627.3 Total $ 4,844.2 $ (1,645.8) $ 3,198.4 $ 4,848.2 $ (1,561.8) $ 3,286.4

Debt and Credit Facilities (Tab

Debt and Credit Facilities (Tables)	9 Months Ended
	Sep. 30, 2021
Debt Credit Facilities
Short-Term Borrowings and Current Maturities of Long-Term Debt	Short-term borrowings and current maturities of long-term debt consisted of the following: In millions September 30, December 31, Debentures with put feature $ 342.9 $ 342.9 2.900% Senior notes due 2021 (1) — 299.9 9.000% Debentures due 2021 (2) — 125.0 Other current maturities of long-term debt 7.5 7.8 Total $ 350.4 $ 775.6 (1) The 2.900% Senior notes were repaid in February 2021. (2) The 9.000% Debentures were repaid in August 2021.
Long-Term Debt Excluding Current Maturities	Long-term debt , excluding current maturities, consisted of the following: In millions September 30, December 31, 4.250% Senior notes due 2023 $ 698.9 $ 698.4 7.200% Debentures due 2021-2025 22.4 29.9 3.550% Senior notes due 2024 497.8 497.3 6.480% Debentures due 2025 149.7 149.7 3.500% Senior notes due 2026 397.7 397.3 3.750% Senior notes due 2028 546.1 545.6 3.800% Senior notes due 2029 744.9 744.4 5.750% Senior notes due 2043 494.9 494.7 4.650% Senior notes due 2044 296.2 296.1 4.300% Senior notes due 2048 296.3 296.2 4.500% Senior notes due 2049 345.8 345.7 Other loans and notes — 1.2 Total $ 4,490.7 $ 4,496.5

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2021
Derivatives, Fair Value [Line Items]
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]	The fair values of derivative instruments included within the Condensed Consolidated Balance Sheets were as follows: Derivative assets Derivative liabilities In millions September 30, December 31, September 30, December 31, Derivatives designated as hedges: Currency derivatives $ 0.1 $ 0.7 $ 2.2 $ 1.7 Commodity derivatives 6.6 — 0.1 — Derivatives not designated as hedges: Currency derivatives 9.0 1.5 10.2 4.8 Total derivatives $ 15.7 $ 2.2 $ 12.5 $ 6.5 Asset and liability derivatives included in the table above are recorded within Other current assets and Accrued expenses and other current liabilities , respectively.
Schedule of Notional Amounts of Outstanding Derivative Positions [Table Text Block]	The Company had the following outstanding contracts to hedge forecasted commodity purchases (in metric tons): Volume outstanding as of Commodity September 30, December 31, Aluminum 12,741 —
Schedule Of Derivatives Designated As Hedges Affecting Condensed Consolidated Income Statement And Accumulated Other Comprehensive Income [Text Block]	The following table represents the amounts associated with derivatives designated as hedges affecting Net earnings and AOCI for the three months ended September 30: Amount of gain (loss) Location of gain (loss) reclassified from Amount of gain (loss) In millions 2021 2020 2021 2020 Currency derivatives designated as hedges (1) $ (0.9) $ 1.5 Cost of goods sold $ 7.5 $ (0.9) Commodity derivatives designated as hedges 6.0 — Cost of goods sold 0.2 — Interest rate swaps & locks — — Interest expense 0.2 0.2 Total $ 5.1 $ 1.5 $ 7.9 $ (0.7) (1) Amounts excluded from effectiveness testing and recognized into Cost of goods sold based on changes in fair value and amortization was a gain of $0.9 million and loss of $0.5 million for the three months ended September 30, 2021 and 2020, respectively. The following table represents the amounts associated with derivatives designated as hedges affecting Net earnings and AOCI for the nine months ended September 30: Amount of gain (loss) Location of gain (loss) reclassified from Amount of gain (loss) In millions 2021 2020 2021 2020 Currency derivatives designated as hedges (1) $ (6.2) $ 1.7 Cost of goods sold $ 4.4 $ (1.6) Commodity derivatives designated as hedges 7.5 — Cost of goods sold 0.2 — Interest rate swaps & locks — — Interest expense 0.5 0.5 Total $ 1.3 $ 1.7 $ 5.1 $ (1.1) (1) Amounts excluded from effectiveness testing and recognized into Cost of goods sold based on changes in fair value and amortization was a loss of $0.7 million and $1.6 million for the nine months ended September 30, 2021 and 2020, respectively.
Schedule of Gains and Losses of Derivative Financial Instruments Not Designated as Hedges [Table Text Block]	The following table represents the amounts associated with derivatives not designated as hedges affecting Net earnings for the three months ended September 30: Location of gain (loss) recognized in Net earnings Amount of gain (loss) In millions 2021 2020 Currency derivatives - continuing Other income (expense), net $ 0.9 $ 1.6 Total $ 0.9 $ 1.6 The following table represents the amounts associated with derivatives not designated as hedges affecting Other income/(expense), net for the nine months ended September 30: Location of gain (loss) Amount of gain (loss) In millions 2021 2020 Currency derivatives - continuing Other income (expense), net $ (5.0) $ 8.4 Currency derivatives - discontinued Discontinued operations — (0.4) Total $ (5.0) $ 8.0

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value, by Balance Sheet Grouping [Table Text Block]	The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of September 30, 2021: In millions Fair Value Fair value measurements Level 1 Level 2 Level 3 Assets: Derivative instruments $ 15.7 $ — $ 15.7 $ — Liabilities: Derivative instruments $ 12.5 $ — $ 12.5 $ — The following table presents the Company’s fair value hierarchy for those assets and liabilities measured at fair value on a recurring basis as of December 31, 2020: In millions Fair Value Fair value measurements Level 1 Level 2 Level 3 Assets: Derivative instruments $ 2.2 $ — $ 2.2 $ — Liabilities: Derivative instruments $ 6.5 $ — $ 6.5 $ —

Pensions and Postretirement B_2

Pensions and Postretirement Benefits Other than Pensions (Tables)	9 Months Ended
	Sep. 30, 2021
Pension Plan, Defined Benefit [Member]
Schedule of Net Periodic Benefit Cost	The components of the Company’s net periodic pension benefit cost for the three and nine months ended September 30 were as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Service cost $ 12.6 $ 10.3 $ 38.2 $ 44.0 Interest cost 14.7 20.2 44.0 63.2 Expected return on plan assets (26.5) (29.8) (79.7) (91.3) Net amortization of: Prior service costs 1.3 1.3 3.8 4.0 Net actuarial (gains) losses 8.9 11.4 26.8 33.0 Net periodic pension benefit cost $ 11.0 $ 13.4 $ 33.1 $ 52.9 Net curtailment and settlement (gains) losses — (0.1) 6.9 (3.7) Net periodic pension benefit cost after net curtailment and settlement (gains) losses $ 11.0 $ 13.3 $ 40.0 $ 49.2 Amounts recorded in continuing operations: Operating income $ 11.8 $ 9.2 $ 35.5 $ 38.7 Other income/(expense), net (1.8) 3.7 1.4 6.8 Amounts recorded in discontinued operations 1.0 0.4 3.1 3.7 Total $ 11.0 $ 13.3 $ 40.0 $ 49.2
Other Postretirement Benefit Plan, Defined Benefit [Member]
Schedule of Net Periodic Benefit Cost	The components of net periodic postretirement benefit cost for the three and nine months ended September 30 were as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Service cost $ 0.6 $ 0.7 $ 1.6 $ 1.8 Interest cost 1.3 2.4 4.1 7.4 Net amortization of net actuarial (gains) losses (0.5) (2.2) (1.5) (4.3) Net periodic postretirement benefit cost $ 1.4 $ 0.9 $ 4.2 $ 4.9 Amounts recorded in continuing operations: Operating income $ 0.6 $ 0.7 $ 1.6 $ 1.8 Other income/(expense), net 0.6 0.3 1.9 2.3 Amounts recorded in discontinued operations 0.2 (0.1) 0.7 0.8 Total $ 1.4 $ 0.9 $ 4.2 $ 4.9

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2021
Stockholders' Equity Note [Abstract]
Reconciliation of Ordinary Shares	Changes in ordinary shares and treasury shares for the nine months ended September 30, 2021 were as follows: In millions Ordinary shares issued Ordinary shares held in treasury December 31, 2020 263.3 24.5 Shares issued under incentive plans, net 2.1 — Repurchase of ordinary shares (3.4) — September 30, 2021 262.0 24.5
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The changes in Accumulated other comprehensive income (loss) for the nine months ended September 30, 2021 were as follows: In millions Derivative Instruments Pension and OPEB Foreign Currency Translation Total Balance at December 31, 2020 $ 10.8 $ (416.5) $ (225.8) $ (631.5) Other comprehensive income (loss) attributable to Trane Technologies plc (1.9) 23.8 (99.6) (77.7) Balance at September 30, 2021 $ 8.9 $ (392.7) $ (325.4) $ (709.2) The changes in Accumulated other comprehensive income (loss) for the nine months ended September 30, 2020 were as follows: In millions Derivative Instruments Pension and OPEB Foreign Currency Translation Total Balance at December 31, 2019 $ 5.6 $ (457.4) $ (554.8) $ (1,006.6) Other comprehensive income (loss) attributable to Trane Technologies plc 3.2 (2.2) 105.3 106.3 Separation of Ingersoll Rand Industrial, net of tax — 69.1 70.2 139.3 Balance at September 30, 2020 $ 8.8 $ (390.5) $ (379.3) $ (761.0)

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of revenues	Net revenues by geography and major type of good or service for the three and nine months ended September 30 were as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Americas Equipment $ 1,878.6 $ 1,837.0 $ 5,458.0 $ 4,893.6 Services and parts 1,031.7 908.8 2,749.6 2,406.4 Total Americas $ 2,910.3 $ 2,745.8 $ 8,207.6 $ 7,300.0 EMEA Equipment $ 322.7 $ 295.6 $ 996.7 $ 792.6 Services and parts 172.3 149.6 465.4 390.1 Total EMEA $ 495.0 $ 445.2 $ 1,462.1 $ 1,182.7 Asia Pacific Equipment $ 218.9 $ 208.6 $ 619.7 $ 545.5 Services and parts 95.6 95.9 277.7 247.4 Total Asia Pacific $ 314.5 $ 304.5 $ 897.4 $ 792.9 Total Net revenues $ 3,719.8 $ 3,495.5 $ 10,567.1 $ 9,275.6
Schedule of assets and liabilities from contracts with customers	The opening and closing balances of contract assets and contract liabilities arising from contracts with customers for the period ended September 30, 2021 and December 31, 2020 were as follows: In millions September 30, December 31, 2020 Contract assets $ 366.7 $ 255.4 Contract liabilities 1,179.0 1,077.0 The timing of revenue recognition, billings and cash collections results in accounts receivable, contract assets, and customer advances and deposits (contract liabilities) on the Condensed Consolidated Balance Sheets. In general, the Company receives payments from customers based on a billing schedule established in its contracts. Contract assets relate to the conditional right to consideration for any completed performance under the contract when costs are incurred in excess of billings under the percentage-of-completion methodology. Accounts receivable are recorded when the right to consideration becomes unconditional. Contract liabilities relate to payments received in advance of performance under the contract or when the Company has a right to consideration that is unconditional before it transfers a good or service to the customer. Contract liabilities are recognized as revenue as (or when) the Company performs under the contract. During the three and nine months ended September 30, 2021, changes in contract asset and liability balances were not materially impacted by any other factors.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement, Noncash Expense [Abstract]
Share-Based Compensation Expense	The expense recognized for the three and nine months ended September 30 was as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Stock options $ 2.9 $ 2.6 $ 14.7 $ 15.7 RSUs 3.6 3.4 19.0 20.6 Performance shares 5.8 5.7 17.4 20.1 Deferred compensation 0.8 1.1 2.4 2.9 Other (1) (0.7) 2.6 2.4 1.4 Pre-tax expense 12.4 15.4 55.9 60.7 Tax benefit (3.0) (3.7) (13.5) (14.7) After-tax expense $ 9.4 $ 11.7 $ 42.4 $ 46.0 Amounts recorded in continuing operations 9.4 11.5 42.4 44.5 Amounts recorded in discontinued operations — 0.2 — 1.5 Total $ 9.4 $ 11.7 $ 42.4 $ 46.0 (1) Includes certain plans that have a market-based component.
Grants of Stock Options and RSUs	Grants issued during the nine months ended September 30 were as follows: 2021 2020 Number Weighted- Number Weighted- Stock options 582,657 $ 29.55 1,020,535 $ 16.75 RSUs 149,214 $ 153.53 211,307 $ 104.09 Performance shares (1) 283,412 $ 181.71 278,468 $ 140.72 (1) The number of performance shares represents the maximum award level.
Average fair value of stock options, assumptions	The following assumptions were used during the nine months ended September 30: 2021 2020 Dividend yield 1.60 % 2.01 % Volatility 27.90 % 24.33 % Risk-free rate of return 0.45 % 0.56 % Expected life in years 4.8 4.8

Restructuring Activities (Table

Restructuring Activities (Tables)	9 Months Ended
	Sep. 30, 2021
Restructuring Cost and Reserve [Line Items]
Schedule of Restructuring Reserve by Type of Cost [Table Text Block]	The changes in the restructuring reserve for the nine months ended September 30, 2021 were as follows: In millions Americas EMEA Asia Pacific Corporate Total December 31, 2020 $ 12.6 $ 4.3 $ 2.0 $ 10.6 $ 29.5 Additions, net of reversals (1) 3.9 1.5 1.2 12.4 19.0 Cash paid/other (5.5) (2.2) (2.0) (17.7) (27.4) September 30, 2021 $ 11.0 $ 3.6 $ 1.2 $ 5.3 $ 21.1 (1) Excludes the accelerated depreciation on buildings and equipment ($0.7 million).
Restructuring and Related Costs [Table Text Block]	The following table details restructuring charges recorded during the three and nine months ended September 30: Three months ended Nine months ended In millions 2021 2020 2021 2020 Americas $ 0.8 $ 6.6 $ 3.9 $ 33.2 EMEA 1.1 0.7 2.2 7.2 Asia Pacific 1.4 0.8 1.2 3.3 Corporate and Other 4.6 0.1 12.4 27.6 Total $ 7.9 $ 8.2 $ 19.7 $ 71.3 Cost of goods sold $ 1.0 $ 3.3 $ 3.6 $ 21.9 Selling and administrative expenses 6.9 4.9 16.1 49.4 Total $ 7.9 $ 8.2 $ 19.7 $ 71.3

Other Income_(Expense), Net (Ta

Other Income/(Expense), Net (Tables)	9 Months Ended
	Sep. 30, 2021
Other Net [Abstract]
Other, Net	The components of Other income/(expense), net for the three and nine months ended September 30 were as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Interest income/(loss) $ 0.8 $ 1.9 $ 3.0 $ 3.6 Foreign currency exchange loss (2.2) (2.5) (8.9) (8.5) Other components of net periodic benefit credit/(cost) 1.2 (3.9) (3.3) (9.0) Other activity, net (6.7) — (4.6) 21.5 Other income/(expense), net $ (6.9) $ (4.5) $ (13.8) $ 7.6

Acquisitions and Divestitures (

Acquisitions and Divestitures (Tables)	9 Months Ended
	Sep. 30, 2021
Business Combinations [Abstract]
Summarized Financial Information For Discontinued Operations Text Block [Table Text Block]	Divestitures The components of Discontinued operations, net of tax for the three and nine months ended September 30 were as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Net revenues $ — $ — $ — $ 469.8 Cost of goods sold — — — (315.8) Selling and administrative expenses (1.3) (0.3) (0.8) (234.4) Operating income (loss) (1.3) (0.3) (0.8) (80.4) Other income/ (expense), net (17.7) (7.4) (31.6) (50.7) Pre-tax earnings (loss) from discontinued operations (19.0) (7.7) (32.4) (131.1) Tax benefit (expense) 5.7 2.2 19.8 10.7 Discontinued operations, net of tax $ (13.3) $ (5.5) $ (12.6) $ (120.4) The table above presents the financial statement line items that support amounts included in Discontinued operations, net of tax . For the three and nine months ended September 30, 2021, Other income/(expense), net included a charge of $14.0 million to increase the Company's Funding Agreement liability from asbestos-related activities of Aldrich. For the three and nine months ended September 30, 2020, Selling and administrative expenses included pre-tax Ingersoll Rand Industrial separation costs of $2.3 million and $113.9 million, respectively, which are primarily related to legal, consulting and advisory fees. In addition, for the nine months ended September 30, 2020, Other income/(expense), net
Disposal groups, Ingersoll-Rand Industrial [Text Block]	Net revenues and earnings from operations, net of tax of Ingersoll Rand Industrial for the three and nine months ended September 30 were as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Net revenues $ — $ — $ — $ 469.8 Earnings (loss) attributable to Trane Technologies plc 0.3 (0.5) 4.2 (83.0) Earnings (loss) attributable to noncontrolling interests — — — 0.9 Earnings (loss) from operations, net of tax $ 0.3 $ (0.5) $ 4.2 $ (82.1) Earnings (loss) attributable to Trane Technologies plc includes Ingersoll Rand Industrial separation costs, net of tax primarily related to legal, consulting and advisory fees of $1.8 million and $95.9 million during the three and nine months ended September 30, 2020, respectively.
Disclosure of Long Lived Assets Held-for-sale [Table Text Block]	The components of Discontinued operations, net of tax for the three and nine months ended September 30 were as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Ingersoll Rand Industrial, net of tax $ 0.3 $ (0.5) $ 4.2 $ (82.1) Other discontinued operations, net of tax (13.6) (5.0) (16.8) (38.3) Discontinued operations, net of tax $ (13.3) $ (5.5) $ (12.6) $ (120.4) For the three and nine months ended September 30, 2021, other discontinued operations, net of tax included a charge of $14.0 million related to the increase to its potential liability under the Funding Agreement from asbestos-related activities of Aldrich. In addition, other discontinued operations, net of tax includes a loss of $23.6 million related to the deconsolidation of Aldrich and its wholly-owned subsidiary 200 Park, for the nine months ended September 30, 2020. Refer to Note 20, "Commitments and Contingencies," for more information regarding asbestos-related matters.

Earnings Per Share (EPS) (Table

Earnings Per Share (EPS) (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Schedule of Earnings Per Share Basic and Diluted Shares	The following table summarizes the weighted-average number of ordinary shares outstanding for basic and diluted earnings per share calculations for the three and nine months months ended September 30: Three months ended Nine months ended In millions, except per share amounts 2021 2020 2021 2020 Weighted-average number of basic shares 238.2 240.4 239.2 240.0 Shares issuable under incentive stock plans 3.5 3.3 3.6 2.7 Weighted-average number of diluted shares 241.7 243.7 242.8 242.7 Anti-dilutive shares — 0.6 0.3 0.8 Dividends declared per ordinary share $ — $ — $ 1.77 $ 1.59

Business Segment Information (T

Business Segment Information (Tables)	9 Months Ended
	Sep. 30, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Summary of Operations by Reportable Segments	A summary of operations by reportable segment for the three and nine months ended September 30 was as follows: Three months ended Nine months ended In millions 2021 2020 2021 2020 Net revenues Americas $ 2,910.3 $ 2,745.8 $ 8,207.6 $ 7,300.0 EMEA 495.0 445.2 1,462.1 1,182.7 Asia Pacific 314.5 304.5 897.4 792.9 Total Net revenues $ 3,719.8 $ 3,495.5 $ 10,567.1 $ 9,275.6 Segment Adjusted EBITDA Americas $ 566.9 $ 555.0 $ 1,571.7 $ 1,287.6 EMEA 99.4 87.6 283.4 190.1 Asia Pacific 57.3 58.5 163.8 129.2 Total Segment Adjusted EBITDA $ 723.6 $ 701.1 $ 2,018.9 $ 1,606.9 Reconciliation of Segment Adjusted EBITDA to earnings before income taxes Total Segment Adjusted EBITDA $ 723.6 $ 701.1 $ 2,018.9 $ 1,606.9 Interest expense (57.7) (62.4) (177.7) (186.8) Depreciation and amortization (72.2) (74.5) (223.0) (223.7) Restructuring costs (7.9) (8.2) (19.7) (71.3) Unallocated corporate expenses (67.0) (56.0) (202.4) (159.5) Earnings before income taxes $ 518.8 $ 500.0 $ 1,396.1 $ 965.6

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2021
Cost Income Asbestos Related Claims After Recoveries	There was no net income (expense) associated with these pre-Petition Date transactions for the three months ended September 30, 2021 and 2020. For the nine months ended September 30, the net income (expense) associated with these pre-Petition Date transactions was as follows: Nine months ended In millions 2021 2020 Continuing operations $ — $ 14.8 Discontinued operations — (11.2) Total $ — $ 3.6
Schedule of Product Warranty Liability [Table Text Block]	The changes in the standard product warranty liability for the nine months ended September 30 were as follows: In millions 2021 Balance at beginning of period $ 282.7 Reductions for payments (89.8) Accruals for warranties issued during the current period 100.4 Changes to accruals related to preexisting warranties 1.2 Translation (1.6) Balance at end of period $ 292.9
Extended Warranty [Member]
Schedule of Product Warranty Liability [Table Text Block]	The changes in the extended warranty liability for the nine months ended September 30 were as follows: In millions 2021 Balance at beginning of period $ 304.4 Amortization of deferred revenue for the period (89.8) Additions for extended warranties issued during the period 88.5 Changes to accruals related to preexisting warranties 9.8 Translation (0.8) Balance at end of period $ 312.1

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Cash dividends declared	$ 281.4	$ 141		$ 254	$ 126.7
Retained earnings
Cash dividends declared	281.4	$ 141	$ 0	254	$ 126.7
Revision of Prior Period, Adjustment
Cash dividends declared	140.1		127.1	127.1
Previously Reported
Cash dividends declared	$ 141.3		$ 127.1	$ 126.9

Completion of Reverse Morris _2

Completion of Reverse Morris Trust Transaction (Details) - USD ($) $ in Millions	Feb. 29, 2020	Sep. 30, 2021	Sep. 30, 2020
Trust Transaction [Line Items]
Term Loan	$ 1,900
Receipt of a special cash payment	$ 1,900		$ 1,900
Settlement related to special cash payment		$ 49.5
Reverse Morris Trust Transaction [Domain]
Trust Transaction [Line Items]
Settlement related to special cash payment		$ 49.5

Inventories (Schedule of Major

Inventories (Schedule of Major Classes of Inventory) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Inventory Valuation Reserves	$ 85.4	$ 85.6
Raw materials	417.2	305
Work-in-process	204.8	163.9
Finished goods	913.1	761.4
Sub-total	1,535.1	1,230.3
LIFO reserve	(52.3)	(41.1)
Total	$ 1,482.8	$ 1,189.2

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 31, 2020	Sep. 30, 2021
Goodwill [Roll Forward]
Accumulated Impairment	$ (2,496)	$ (2,496)
Currency translation		(39.6)
Goodwill	5,342.8	5,310.1
Goodwill, Acquired During Period	131.8	6.9
Americas [Member]
Goodwill [Roll Forward]
Currency translation		(0.7)
Goodwill	3,980	3,982
Goodwill, Acquired During Period		2.7
EMEA [Member]
Goodwill [Roll Forward]
Currency translation		(41.4)
Goodwill	793.5	756.3
Goodwill, Acquired During Period		4.2
Asia Pacific [Member]
Goodwill [Roll Forward]
Currency translation		2.5
Goodwill	$ 569.3	571.8
Goodwill, Acquired During Period		$ 0

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Finite-lived intangible assets, gross	$ 2,217.9		$ 2,217.9		$ 2,220.9
Accumulated amortization	(1,645.8)		(1,645.8)		(1,561.8)
Net finite-lived intangible assets	572.1		572.1		659.1
Intangible Assets, Gross (Excluding Goodwill)	4,844.2		4,844.2		4,848.2
Intangible assets, net	3,198.4		3,198.4		3,286.4
Amortization of intangible assets	29	$ 29.9	90.7	$ 89.8
Trademarks [Member]
Trademarks (indefinite-lived)	2,626.3		2,626.3		2,627.3
Customer Relationships [Member]
Finite-lived intangible assets, gross	2,007.2		2,007.2		2,010.2
Accumulated amortization	(1,446.1)		(1,446.1)		(1,362.4)
Net finite-lived intangible assets	561.1		561.1		647.8
Other Intangible Assets [Member]
Finite-lived intangible assets, gross	210.7		210.7		210.7
Accumulated amortization	(199.7)		(199.7)		(199.4)
Net finite-lived intangible assets	$ 11		$ 11		$ 11.3

Debt and Credit Facilities (Nar

Debt and Credit Facilities (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Feb. 28, 2021	Dec. 31, 2020
Long-term debt excluding current maturities	$ 4,490.7			$ 4,496.5
Short-term borrowings and current maturities of long-term debt	350.4			775.6
Repayments of Long-term Debt	432.5	$ 307.5
Debt Instrument, Fair Value Disclosure	5,700			6,300
Commercial Paper [Member]
Short-term borrowings and current maturities of long-term debt	0			0
Debentures With Put Feature [Member]
Short-term borrowings and current maturities of long-term debt	342.9			342.9
Debentures with put option available to be exercised			$ 37.2
Three Point Five Percent Senior notes Due Two Thousand Twenty Six [Member]
Long-term debt excluding current maturities	$ 397.7			$ 397.3
Debt Instrument, Interest Rate, Stated Percentage	3.50%			3.50%
Three Point Eight Percent Senior Notes Due Two Thousand Twenty Nine [Member]
Long-term debt excluding current maturities	$ 744.9			$ 744.4
Debt Instrument, Interest Rate, Stated Percentage	3.80%			3.80%
Four Point Five Percent Senior Notes Due Two Thousand Forty Nine [Member]
Long-term debt excluding current maturities	$ 345.8			$ 345.7
Debt Instrument, Interest Rate, Stated Percentage	4.50%			4.50%
4.25% Senior notes due 2023 [Member]
Long-term debt excluding current maturities	$ 698.9			$ 698.4
Debt Instrument, Interest Rate, Stated Percentage	4.25%			4.25%
5.75% Senior notes due 2043 [Member]
Long-term debt excluding current maturities	$ 494.9			$ 494.7
Debt Instrument, Interest Rate, Stated Percentage	5.75%			5.75%
Three Point Five Five Percent Senior Notes due 2024 [Member]
Long-term debt excluding current maturities	$ 497.8			$ 497.3
Debt Instrument, Interest Rate, Stated Percentage	3.55%			3.55%
Four Point Six Five Percent Senior Notes due Twenty Forty Four [Member]
Long-term debt excluding current maturities	$ 296.2			$ 296.1
Debt Instrument, Interest Rate, Stated Percentage	4.65%			4.65%
Commercial Paper [Member]
Line of credit facility, amount outstanding	$ 2,000
Revolving Credit Facility [Member]
Line of Credit Facility, Remaining Borrowing Capacity	2,000			$ 2,000
2026 Revolving Credit Facility
Line of credit facility, amount outstanding	1,000
2022 Revolving Credit Facility
Line of credit facility, amount outstanding	1,000
2023 Revolving Credit Facility
Line of credit facility, amount outstanding	$ 1,000

Debt and Credit Facilities (Sho

Debt and Credit Facilities (Short-Term Borrowings and Current Maturities of Long-Term Debt) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Short-term borrowings and current maturities of long-term debt	$ 350.4	$ 775.6
Debentures With Put Feature [Member]
Short-term borrowings and current maturities of long-term debt	342.9	342.9
Two Point Nine Percent Senior Notes Due Two Thousand Twenty One [Member] [Member]
Short-term borrowings and current maturities of long-term debt	0	$ 299.9
Debt Instrument, Interest Rate, Stated Percentage		2.90%
Commercial Paper [Member]
Short-term borrowings and current maturities of long-term debt	0	$ 0
Current Maturities Of Long Term Debt [Member]
Short-term borrowings and current maturities of long-term debt	7.5	7.8
9.00% Debentures Due 2021 [Member]
Short-term borrowings and current maturities of long-term debt	$ 0	$ 125
Debt Instrument, Interest Rate, Stated Percentage		9.00%

Debt and Credit Facilities (Lon

Debt and Credit Facilities (Long-Term Debt Excluding Current Maturities) (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Long-term debt excluding current maturities	$ 4,490.7	$ 4,496.5
4.25% Senior notes due 2023 [Member]
Debt Instrument, Interest Rate, Stated Percentage	4.25%	4.25%
Long-term debt excluding current maturities	$ 698.9	$ 698.4
Seven Point Two Zero Percent Debentures [Domain]
Long-term debt excluding current maturities	$ 22.4	$ 29.9
Three Point Five Five Percent Senior Notes due 2024 [Member]
Debt Instrument, Interest Rate, Stated Percentage	3.55%	3.55%
Long-term debt excluding current maturities	$ 497.8	$ 497.3
6.48% Debentures Due 2025 [Member]
Debt Instrument, Interest Rate, Stated Percentage	6.48%	6.48%
Long-term debt excluding current maturities	$ 149.7	$ 149.7
Three Point Five Percent Senior notes Due Two Thousand Twenty Six [Member]
Debt Instrument, Interest Rate, Stated Percentage	3.50%	3.50%
Long-term debt excluding current maturities	$ 397.7	$ 397.3
Three Point Seven Five Percent Senior Notes Due Two Thousand Twenty Eight [Member]
Debt Instrument, Interest Rate, Stated Percentage	3.75%	3.75%
Long-term debt excluding current maturities	$ 546.1	$ 545.6
Three Point Eight Percent Senior Notes Due Two Thousand Twenty Nine [Member]
Debt Instrument, Interest Rate, Stated Percentage	3.80%	3.80%
Long-term debt excluding current maturities	$ 744.9	$ 744.4
5.75% Senior notes due 2043 [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.75%	5.75%
Long-term debt excluding current maturities	$ 494.9	$ 494.7
Four Point Six Five Percent Senior Notes due Twenty Forty Four [Member]
Debt Instrument, Interest Rate, Stated Percentage	4.65%	4.65%
Long-term debt excluding current maturities	$ 296.2	$ 296.1
Seven Point Two Zero Percent Debentures due Two Thousand Fourteen to Two Thousand Twenty Five [Member] [Member]
Debt Instrument, Interest Rate, Stated Percentage	7.20%	7.20%
Four Point Three Percent Senior Notes Due Two Thousand Forty Eight [Member]
Debt Instrument, Interest Rate, Stated Percentage	4.30%	4.30%
Long-term debt excluding current maturities	$ 296.3	$ 296.2
Four Point Five Percent Senior Notes Due Two Thousand Forty Nine [Member]
Debt Instrument, Interest Rate, Stated Percentage	4.50%	4.50%
Long-term debt excluding current maturities	$ 345.8	$ 345.7
Other Loans and Notes [Member]
Long-term debt excluding current maturities	$ 0	$ 1.2

Financial Instruments (Narrativ

Financial Instruments (Narrative) (Details) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021USD ($)T	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)T	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)T	Dec. 31, 2019USD ($)
Deferred gain/loss, net of tax, included in accumulated other comprehensive income (AOCI) related to the fair value of the Company's currency derivatives designated as accounting hedges	$ (709.2)	$ (761)	$ (709.2)	$ (761)	$ (631.5)	$ (1,006.6)
Amount expected to be reclassified into interest expense over the next twelve months	0.7		0.7
Price Risk Cash Flow Hedge Unrealized Gain (Loss) to be Reclassified During Next 12 Months	4.9		4.9
Interest rate contracts outstanding	$ 0		$ 0		$ 0
Derivative, Nonmonetary Notional Amount | T	12,741,000,000		12,741,000,000		0
Foreign Exchange Contract [Member]
Derivative, Notional Amount	$ 500		$ 500		$ 500
Currency derivatives expected to be reclassified into earnings over the next twelve months	(1.8)		(1.8)
Interest Rate Swap [Member]
Derivative, Notional Amount	1,300		1,300
Deferred (loss) remaining in AOCI related to the interest rate locks			4.8		5.3
Designated as Hedging Instrument [Member]
Deferred (loss) remaining in AOCI related to the interest rate locks	0	$ 0	0	$ 0
Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Deferred gain/loss, net of tax, included in accumulated other comprehensive income (AOCI) related to the fair value of the Company's currency derivatives designated as accounting hedges	(1.8)		(1.8)		$ 0.7
Designated as Hedging Instrument [Member] | Commodity Contract
Deferred gain/loss, net of tax, included in accumulated other comprehensive income (AOCI) related to the fair value of the Company's currency derivatives designated as accounting hedges	$ 4.9		$ 4.9

Financial Instruments Schedule

Financial Instruments Schedule of the Fair Values of Derivative Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Derivative asset fair value	$ 15.7	$ 2.2
Derivative liability fair value	12.5	6.5
Significant Other Observable Inputs (Level 2) [Member]
Derivatives, Fair Value [Line Items]
Derivative asset fair value	15.7	2.2
Derivative liability fair value	12.5	6.5
Foreign Exchange Contract [Member] | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative asset fair value	0.1	0.7
Derivative liability fair value	2.2	1.7
Foreign Exchange Contract [Member] | Nondesignated [Member]
Derivatives, Fair Value [Line Items]
Derivative asset fair value	9	1.5
Derivative liability fair value	10.2	4.8
Commodity Contract | Designated as Hedging Instrument [Member]
Derivatives, Fair Value [Line Items]
Derivative asset fair value	6.6	0
Derivative liability fair value	$ 0.1	$ 0

Financial Instruments Schedul_2

Financial Instruments Schedule of Derivatives Designated as Hedges Affecting Condensed Consolidated Income Statement and Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss)			$ 4.8		$ 5.3
Designated as Hedging Instrument [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Unrealized Gain (Loss) on Foreign Currency Derivatives, Net, before Tax	$ (0.9)	$ 1.5	(6.2)	$ 1.7
Unrealized Gain (Loss) on Price Risk Cash Flow Derivatives, before Tax	6	0	7.5	0
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss)	0	0	0	0
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	7.9	(0.7)	5.1	(1.1)
Unrealized Gain (Loss) on Cash Flow Hedging Instruments	5.1	1.5
Designated as Hedging Instrument [Member] | cost of goods sold [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Foreign Currency Derivatives Recorded in Earnings, Net			4.4	(1.6)
Designated as Hedging Instrument [Member] | Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	0.2		0.5	0.5
Designated as Hedging Instrument [Member] | Cost of Sales
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Foreign Currency Derivatives Recorded in Earnings, Net	7.5	(0.9)
Gain (Loss) on Foreign Currency Cash Flow Hedge Ineffectiveness	(0.9)	0.5	0.7	1.6
Price Risk Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	$ 0.2	0	$ 0.2	$ 0
Interest Rate Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net		$ 0.2

Financial Instruments Schedul_3

Financial Instruments Schedule of Gains and Losses of Derivative Financial Instruments Not Designated as Hedges (Details) - Nondesignated [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Gain (Loss) on Derivative, Net	$ 0.9	$ 1.6	$ (5)	$ 8
Other Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 0.9	$ 1.6	(5)	8.4
Discontinued Operations [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments			$ 0	$ (0.4)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset, Fair Value, Gross Asset	$ 15.7	$ 2.2
Derivative Liability, Fair Value, Gross Liability	12.5	6.5
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Liability, Fair Value, Gross Liability	0	0
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset, Fair Value, Gross Asset	15.7	2.2
Derivative Liability, Fair Value, Gross Liability	12.5	6.5
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset, Fair Value, Gross Asset	0	0
Derivative Liability, Fair Value, Gross Liability	$ 0	$ 0

Pensions and Postretirement B_3

Pensions and Postretirement Benefits Other than Pensions (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Company contributions			$ 47.1	$ 90.5
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	$ (11.9)	$ (1.9)	(23.8)	2.2
Pension Costs [Member]
Actuarial gain (loss)	(8.9)	(11.4)	(26.8)	(33)
Pension Plan, Defined Benefit [Member]
Expected future employer contributions in 2017	57		57
Postretirement Benefit Costs [Member]
Actuarial gain (loss)	$ 0.5	$ 2.2	$ 1.5	4.3
Reverse Morris Trust Transaction [Member]
Defined Benefit Plan, Plan Assets, Contributions by Employer				$ 24.4

Pensions and Postretirement B_4

Pensions and Postretirement Benefits Other than Pensions (Components of the Company's Pension-Related Costs) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Total	$ 1.2	$ (3.9)	$ (3.3)	$ (9)
Pension Costs [Member]
Service cost	12.6	10.3	38.2	44
Interest cost	14.7	20.2	44	63.2
Expected return on plan assets	(26.5)	(29.8)	(79.7)	(91.3)
Net amortization of prior service costs	1.3	1.3	3.8	4
Net amortization of plan net actuarial losses	8.9	11.4	26.8	33
Net periodic pension benefit cost	11	13.4	33.1	52.9
Net curtailment loss	0	0.1	(6.9)	3.7
Total	11	13.3	40	49.2
Pension Costs [Member] | Continuing Operations [Member]
Total
Pension Costs [Member] | Discontinued Operations [Member]
Total	1	0.4	3.1	3.7
Operating Income (Loss) [Member] | Pension Costs [Member] | Continuing Operations [Member]
Total	11.8	9.2	35.5	38.7
Other Nonoperating Income (Expense) [Member] | Pension Costs [Member] | Continuing Operations [Member]
Total	$ (1.8)	$ 3.7	$ 1.4	$ 6.8

Pensions and Postretirement B_5

Pensions and Postretirement Benefits Other than Pensions (Components of Net Periodic Postretirement Benefit Cost) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Total	$ 1.2	$ (3.9)	$ (3.3)	$ (9)
Postretirement Benefit Costs [Member]
Service cost	0.6	0.7	1.6	1.8
Interest cost	1.3	2.4	4.1	7.4
Net amortization of plan net actuarial losses	(0.5)	(2.2)	(1.5)	(4.3)
Total	1.4	0.9	4.2	4.9
Postretirement Benefit Costs [Member] | Continuing Operations [Member]
Total
Postretirement Benefit Costs [Member] | Discontinued Operations [Member]
Total	0.2	(0.1)	0.7	0.8
Operating Income (Loss) [Member] | Postretirement Benefit Costs [Member] | Continuing Operations [Member]
Total	0.6	0.7	1.6	1.8
Other Nonoperating Income (Expense) [Member] | Postretirement Benefit Costs [Member] | Continuing Operations [Member]
Total	$ 0.6	$ 0.3	$ 1.9	$ 2.3

Equity (Reconciliation of Ordin

Equity (Reconciliation of Ordinary Shares) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2021
Stock Repurchased During Period, Value				$ 600.2
Ordinary shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (shares)	262.7	263.6	263.3	263.3
Shares issued under incentive plans, net				2.1
Repurchase of ordinary shares (shares)	(1.3)	(1.4)	(0.7)	(3.4)
Ending balance (shares)	262	262.7	263.6	262
Ordinary shares held in treasury, at cost
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (shares)			24.5	24.5
Shares issued under incentive plans, net				0
Repurchase of ordinary shares (shares)				0
Ending balance (shares)	24.5			24.5

Equity (Changes in Accumulated

Equity (Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at December 31:			$ (631.5)			$ (1,006.6)	$ (631.5)	$ (1,006.6)
Other comprehensive income (loss)	$ (58.1)	$ 49.3	(70.7)	$ 115	$ 52	(58.6)	(79.5)	108.4
Stockholders' Equity Note, Spinoff Transaction			(49.9)	(5.9)	(17.2)	(1,334.3)
Balance at June 30:	(709.2)			(761)			(709.2)	(761)
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at December 31:			(225.8)			(554.8)	(225.8)	(554.8)
Other comprehensive income (loss)							(99.6)	105.3
Stockholders' Equity Note, Spinoff Transaction								70.2
Balance at June 30:	(325.4)			(379.3)			(325.4)	(379.3)
Accumulated  other comprehensive income (loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss)	(57)	$ 47.6	(68.3)	115.1	$ 49.9	(58.7)	(77.7)	106.3
Stockholders' Equity Note, Spinoff Transaction						139.3		139.3
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at December 31:			10.8			5.6	10.8	5.6
Other comprehensive income (loss)							(1.9)	3.2
Stockholders' Equity Note, Spinoff Transaction								0
Balance at June 30:	8.9			8.8			8.9	8.8
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at December 31:			$ (416.5)			$ (457.4)	(416.5)	(457.4)
Other comprehensive income (loss)							23.8	(2.2)
Stockholders' Equity Note, Spinoff Transaction								69.1
Balance at June 30:	$ (392.7)			$ (390.5)			$ (392.7)	$ (390.5)

Equity Equity (Narrative) (Deta

Equity Equity (Narrative) (Details) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares	Sep. 30, 2020USD ($)	Sep. 30, 2021€ / shares	Feb. 28, 2021USD ($)	Dec. 31, 2020shares	Oct. 31, 2018USD ($)
Common Stock, Par or Stated Value Per Share | $ / shares	$ 1
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 0.001
Stock Repurchased During Period, Value	$ 600.2
Capital Units, Authorized | shares	1,185,040,000
Stock Repurchased During Period, Value	$ 600.2
Repurchase of ordinary shares	(600.2)	$ 0
2018 Authorization [Domain]
Stock Repurchase Program, Authorized Amount						$ 1,500
Stock Repurchase Program, Authorized Amount						$ 1,500
2021 Authorization [Domain]
Stock Repurchased During Period, Value	100.2
Stock Repurchase Program, Authorized Amount				$ 2,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	1,900
Stock Repurchase Program, Authorized Amount				$ 2,000
Stock Repurchased During Period, Value	100.2
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 1,900
Preferred Stock [Member]
Preferred Stock, Shares Authorized | shares	10,000,000
Preferred Stock, Shares Outstanding | shares	0				0
Preferred Stock, Shares Outstanding | shares	0				0
Ordinary shares
Common Stock, Shares Authorized | shares	1,175,000,000
Euro Member Countries, Euro
Common Stock, Shares Authorized | shares	40,000
Common Stock, Par or Stated Value Per Share | € / shares			€ 1
Common Stock, Shares, Outstanding | shares	0				0
Common Stock, Shares, Outstanding | shares	0				0

Revenue - Desegregation of Reve

Revenue - Desegregation of Revenue (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Disaggregation of Revenue [Line Items]
Net revenues	$ 3,719,800,000	$ 3,495,500,000	$ 10,567,100,000	$ 9,275,600,000
Americas [Member]
Disaggregation of Revenue [Line Items]
Net revenues	2,910,300,000	2,745,800,000	8,207,600,000	7,300,000,000
EMEA [Member]
Disaggregation of Revenue [Line Items]
Net revenues	495,000,000	445,200,000	1,462,100,000	1,182,700,000
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Net revenues	314,500,000	304,500,000	897,400,000	792,900,000
Equipment | Americas [Member]
Disaggregation of Revenue [Line Items]
Net revenues	1,878,600,000	1,837,000,000	5,458,000,000	4,893,600,000
Equipment | EMEA [Member]
Disaggregation of Revenue [Line Items]
Net revenues	322,700,000	295,600,000	996,700,000	792,600,000
Equipment | Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Net revenues	218,900,000	208,600,000	619,700,000	545,500,000
Services and parts | Americas [Member]
Disaggregation of Revenue [Line Items]
Net revenues	1,031,700,000	908,800,000	2,749,600,000	2,406,400,000
Services and parts | EMEA [Member]
Disaggregation of Revenue [Line Items]
Net revenues	172,300,000	149,600,000	465,400,000	390,100,000
Services and parts | Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Net revenues	$ 95,600,000	$ 95,900,000	277,700,000	247,400,000
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Net revenues			$ 0.81	$ 0.81

Revenue - Schedule of Assets an

Revenue - Schedule of Assets and Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract assets	$ 366.7	$ 255.4
Contract liabilities	$ 1,179	$ 1,077

Revenue - Contract liability ba

Revenue - Contract liability balances to be recognized (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability, Revenue Recognized	$ 0.09	$ 0.47
Contract liabilities	1,179,000,000	1,179,000,000	$ 1,077,000,000
Contract with Customer, Liability, Noncurrent	$ 0.38	$ 0.38

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) $ in Millions	Feb. 29, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share-based Goods and Nonemployee Services Transaction, Modification of Terms, Incremental Compensation Cost	$ 0.1
Share based compensation expense		$ 12.4	$ 15.4	$ 55.9	$ 60.7
Share based compensation expense, net of tax		9.4	11.7	$ 42.4	46
Percentage Of Awards Applied To Performance Condition				50.00%
Percentage of Awards Applied to Market Condition				50.00%
Stock options and Restricted Stock Units (RSUs) [Member]
Vesting period, in years				3 years
Share-based Payment Arrangement, Option [Member]
Share based compensation expense		$ 2.9	$ 2.6	$ 14.7	$ 15.7
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures				149,214	211,307
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures				582,657	1,020,535

Share-Based Compensation (Share

Share-Based Compensation (Share-Based Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Share based compensation expense	$ 12.4	$ 15.4	$ 55.9	$ 60.7
Tax benefit	(3)	(3.7)	(13.5)	(14.7)
After-tax expense	9.4	11.7	42.4	46
Stock Options [Member]
Share based compensation expense	2.9	2.6	14.7	15.7
Restricted Stock Units (RSUs) [Member]
Share based compensation expense	3.6	3.4	19	20.6
Phantom Share Units (PSUs) [Member]
Share based compensation expense	5.8	5.7	17.4	20.1
Deferred Compensation [Member]
Share based compensation expense	0.8	1.1	2.4	2.9
Other share based compensation [Member]
Share based compensation expense	(0.7)	2.6	2.4	1.4
Continuing Operations [Member]
After-tax expense	9.4	11.5	42.4	44.5
Discontinued Operations [Member]
After-tax expense	$ 0	$ 0.2	$ 0	$ 1.5

Share-Based Compensation (Grant

Share-Based Compensation (Grants of Stock Options and RSUs) (Details) - $ / shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Stock Options [Member]
Equity awards, granted, in shares	582,657	1,020,535
Weighted average fair value per award, in dollars per share	$ 29.55	$ 16.75
RSUs [Member]
Equity awards, granted, in shares	149,214	211,307
Weighted average fair value per award, in dollars per share	$ 153.53	$ 104.09
Phantom Share Units (PSUs) [Member]
Equity awards, granted, in shares	283,412	278,468
Weighted average fair value per award, in dollars per share	$ 181.71	$ 140.72

Share-Based Compensation Share-

Share-Based Compensation Share-Based Compensation (Average Fair Value of Stock Options Granted, Assumptions) (Details)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Dividend yield	1.60%	2.01%
Volatility	27.90%	24.33%
Risk-free rate of return	0.45%	0.56%
Expected life, in years	4 years 9 months 18 days	4 years 9 months 18 days

Restructuring Costs (Details)

Restructuring Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Current	$ 21.1		$ 21.1		$ 29.5
Restructuring and Related Cost, Incurred Cost	7.9	$ 8.2	19.7	$ 71.3
Restructuring and Related Cost, Incurred Cost excluding asset realization			19
Payments for Restructuring			(27.4)
Restructuring and Related Cost, Accelerated Depreciation			0.7
Americas [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Current	11		11		12.6
Restructuring and Related Cost, Incurred Cost	0.8	6.6	3.9	33.2
Restructuring and Related Cost, Incurred Cost excluding asset realization			3.9
Payments for Restructuring			(5.5)
EMEA [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Current	3.6		3.6		4.3
Restructuring and Related Cost, Incurred Cost	1.1	0.7	2.2	7.2
Restructuring and Related Cost, Incurred Cost excluding asset realization			1.5
Payments for Restructuring			(2.2)
Asia Pacific [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Current	1.2		1.2		2
Restructuring and Related Cost, Incurred Cost	1.4	0.8	1.2	3.3
Restructuring and Related Cost, Incurred Cost excluding asset realization			1.2
Payments for Restructuring			(2)
cost of goods sold [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	1	3.3	3.6	21.9
selling and administrative expenses [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Incurred Cost	6.9	4.9	16.1	49.4
Corporate and Other [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve, Current	5.3		5.3		$ 10.6
Restructuring and Related Cost, Incurred Cost	$ 4.6	$ 0.1	12.4	$ 27.6
Restructuring and Related Cost, Incurred Cost excluding asset realization			12.4
Payments for Restructuring			$ (17.7)

Other, Net (Details)

Other, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Deconsolidation, Gain (Loss), Amount				$ 22.7
Legacy Legal Liability Overstatement				17.4
Interest Income, Other	$ 0.8	$ 1.9	$ 3	3.6
Foreign Currency Transaction Gain (Loss), before Tax	2.2	2.5	8.9	8.5
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	1.2	(3.9)	(3.3)	(9)
Other, net	(6.7)	0	(4.6)	21.5
Other income/(expense), net	(6.9)	$ (4.5)	(13.8)	7.6
Charge to increase Funding Liability			21.2
Continuing Operations [Member]
Deconsolidation, Gain (Loss), Amount				$ 0.9
Charge to increase Funding Liability	$ 7.2		$ 7.2

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Unrecognized Tax Benefits	$ 66		$ 65.4
Valuation Allowance due to Completion of Transaction		$ 37
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent		340.00%
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		$ 3.9
Effective Income Tax Rate Reconciliation, Percent	19.20%	23.20%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ in Millions	Oct. 15, 2021	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2025
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Deconsolidation, Gain (Loss), Amount						$ 22.7
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent		$ (13.3)		$ (5.5)	$ (12.6)	(121.3)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest		0		0	0	0.9
Discontinued operations, net of tax		(13.3)		(5.5)	(12.6)	(120.4)
Charge to increase Funding Liability					21.2
Acquisitions of businesses, net of cash acquired			$ 182.8		18	2.5
Disposal Group, Including Discontinued Operation, Revenue		0		0	0	469.8
Disposal Group, Including Discontinued Operation, Costs of Goods Sold		0		0	0	(315.8)
Disposal Group, Including Discontinued Operation, Operating Income (Loss)		(1.3)		(0.3)	(0.8)	(80.4)
Disposal Group, Including Discontinued Operation, Other Expense		(17.7)		(7.4)	(31.6)	(50.7)
Discontinued Operation, Income (Loss) from Discontinued Operation, before Income Tax		(19)		(7.7)	(32.4)	(131.1)
Discontinued Operation, Tax Effect of Discontinued Operation		(5.7)		(2.2)	(19.8)	(10.7)
Acquisitions of businesses, net of cash acquired			182.8		18	2.5
Goodwill, Acquired During Period			131.8		6.9
Business Acquisition [Line Items]
Acquisitions of businesses, net of cash acquired			182.8		18	2.5
Goodwill, Acquired During Period			131.8		6.9
Goodwill		5,310.1	$ 5,342.8		5,310.1
Subsequent Event
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Acquisitions of businesses, net of cash acquired	$ 250
Acquisitions of businesses, net of cash acquired	250
Business Acquisition [Line Items]
Acquisitions of businesses, net of cash acquired	$ 250
Business Acquisition | Subsequent Event
Business Acquisition [Line Items]
Potential Earnout Payment							$ 115
Customer Relationships [Member]
Business Acquisition [Line Items]
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			16 years
IndustrialSegmentBusinesses [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Separation costs				2.3		113.9
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent		0.3		(0.5)	4.2	(83)
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest		0		0	0	0.9
Discontinued operations, net of tax		0.3		(0.5)	4.2	(82.1)
Separation costs, net of tax				1.8		95.9
Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Deconsolidation, Gain (Loss), Amount						23.6
Charge to increase Funding Liability		14			14
Selling and administrative expenses		1.3		0.3	0.8	234.4
Selling and administrative expenses		1.3		0.3	0.8	234.4
Other Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued operations, net of tax		$ (13.6)		$ (5)	$ (16.8)	$ (38.3)
Other Intangible Assets [Member]
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill			$ 76.9

Earnings Per Share (EPS) (Detai

Earnings Per Share (EPS) (Details) - $ / shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Weighted-average number of basic shares	238.2	240.4	239.2	240
Shares issuable under incentive stock plans	3.5	3.3	3.6	2.7
Weighted average number of diluted shares	241.7	243.7	242.8	242.7
Anti-dilutive shares	0	0.6	0.3	0.8
Dividends declared per ordinary share	$ 0	$ 0	$ 1.77	$ 1.59

Business Segment Information (S

Business Segment Information (Summary of Operations by Reportable Segments) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net revenues	$ 3,719.8	$ 3,495.5	$ 10,567.1	$ 9,275.6
Segment Adjusted EBITDA	723.6	701.1	2,018.9	1,606.9
Interest Expense	(57.7)	(62.4)	(177.7)	(186.8)
Depreciation and amortization	(72.2)	(74.5)	(223)	(223.7)
Restructuring and Related Cost, Incurred Cost	(7.9)	(8.2)	(19.7)	(71.3)
Unallocated corporate expense	(67)	(56)	(202.4)	(159.5)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	518.8	500	1,396.1	965.6
Americas [Member]
Net revenues	2,910.3	2,745.8	8,207.6	7,300
Segment Adjusted EBITDA	566.9	555	1,571.7	1,287.6
Restructuring and Related Cost, Incurred Cost	(0.8)	(6.6)	(3.9)	(33.2)
EMEA [Member]
Net revenues	495	445.2	1,462.1	1,182.7
Segment Adjusted EBITDA	99.4	87.6	283.4	190.1
Restructuring and Related Cost, Incurred Cost	(1.1)	(0.7)	(2.2)	(7.2)
Asia Pacific [Member]
Net revenues	314.5	304.5	897.4	792.9
Segment Adjusted EBITDA	57.3	58.5	163.8	129.2
Restructuring and Related Cost, Incurred Cost	$ (1.4)	$ (0.8)	$ (1.2)	$ (3.3)

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	9 Months Ended
	Sep. 30, 2021	Jun. 17, 2020	Sep. 30, 2021	Sep. 30, 2020	Sep. 24, 2021	Aug. 26, 2021	Dec. 31, 2020	Jun. 30, 2020
Deconsolidation, Gain (Loss), Amount				$ 22.7
Cash Divested from Deconsolidation			$ 0	10.8
Reserves for environmental matters	$ 39.6		39.6				$ 39.9
Percentage of non-malignant claims, minimum		73.00%
Total current standard product warranty reserve	112.5		112.5				127.7
Total current extended warranty liability	107.7		107.7				108.6
Expected annual inflation rate		2.50%
Adjusted Expected Annual Inflation Rate		1.00%
Legacy Legal Liability Overstatement				17.4
Charge to increase Funding Liability			21.2
Qualified Settlement Fund					$ 270
Bankruptcy Claims, Amount Paid to Settle Claims						$ 545
Cash and Cash Equivalents [Member]
Bankruptcy Claims, Amount Paid to Settle Claims						540
Commercial Paper [Member]
Bankruptcy Claims, Amount Paid to Settle Claims						$ 5
Aldrich and Murray [Member]
Equity Securities without Readily Determinable Fair Value, Amount								$ 53.6
Discontinued Operations [Member]
Deconsolidation, Gain (Loss), Amount				23.6
Reserves for environmental matters	36.5		36.5				$ 37.5
Charge to increase Funding Liability	14		14
Continuing and Discontinued Operations [Member]
Cash Divested from Deconsolidation				41.7
Continuing Operations [Member]
Deconsolidation, Gain (Loss), Amount				$ 0.9
Charge to increase Funding Liability	7.2		7.2
Asbestos [Member]
Liability from Deconsolidation	$ 270		$ 270					$ 248.8

Commitments and Contingencies_3

Commitments and Contingencies (Schedule of Asbestos-Related Balances) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Asbestos Issue [Member]
Liability for Asbestos and Environmental Claims, Net, Incurred Loss	$ 0	$ 0	$ 0	$ 3.6

Commitments and Contingencies_4

Commitments and Contingencies (Cost/Income Asbestos Related Claims after Recoveries) (Details) - Asbestos Issue [Member] - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Liability for Asbestos and Environmental Claims, Net, Incurred Loss	$ 0	$ 0	$ 0	$ 3.6
Continuing Operations [Member]
Liability for Asbestos and Environmental Claims, Net, Incurred Loss			0	14.8
Discontinued Operations [Member]
Liability for Asbestos and Environmental Claims, Net, Incurred Loss			$ 0	$ (11.2)

Commitments and Contingencies_5

Commitments and Contingencies (Product Warranty Liability) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Balance at beginning of period	$ 282.7
Reductions for payments	(89.8)
Accruals for warranties issued during the current period	100.4
Changes to accruals related to preexisting warranties	1.2
Translation	(1.6)
Balance at end of period	$ 292.9

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Extended Warranty Accrual) (Details) - Extended Warranty [Member] $ in Millions	9 Months Ended
	Sep. 30, 2021USD ($)
Balance at beginning of period	$ 304.4
Amortization of deferred revenue for the period	(89.8)
Additions for extended warranties issued during the period	88.5
Changes to accruals related to preexisting warranties	9.8
Translation	(0.8)
Balance at end of period	$ 312.1