Trane Technologies (TT) 10-Q 3 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	Apr. 21, 2023
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
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
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		228,051,842
Entity Central Index Key	0001466258
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Address, Postal Zip Code	00000
Ordinary shares
Document and Entity Information [Abstract]
Title of 12(b) Security	Ordinary Shares, Par Value $1.00 per Share
Trading Symbol	TT
Security Exchange Name	NYSE
Document Information [Line Items]
Title of 12(b) Security	Ordinary Shares, Par Value $1.00 per Share
Trading Symbol	TT
Security Exchange Name	NYSE
Five point Twenty-Five Percent Senior Notes Due Two Thousand Thirty Three
Document and Entity Information [Abstract]
Title of 12(b) Security	5.250% Senior Notes due 2033
Trading Symbol	TT33
Security Exchange Name	NYSE
Document Information [Line Items]
Title of 12(b) Security	5.250% Senior Notes due 2033
Trading Symbol	TT33
Security Exchange Name	NYSE

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net revenues	$ 3,665.8	$ 3,355.5
Cost of goods sold	(2,522.3)	(2,366.5)
Selling and administrative expenses	(686.7)	(600.8)
Operating income	456.8	388.2
Interest expense	(57.6)	(56)
Other income/(expense), net	(9.4)	(0.7)
Earnings before income taxes	389.8	331.5
Provision for income taxes	(73.2)	(61.1)
Earnings from continuing operations	316.6	270.4
Discontinued operations, net of tax	(5.5)	(7)
Net earnings	311.1	263.4
Less: Net earnings from Continuing Operations, Net of Tax, Attributable to Noncontrolling Interest	(4)	(3.2)
Net earnings attributable to Trane Technologies plc	307.1	260.2
Amounts attributable to Trane Technologies plc ordinary shareholders:
Continuing operations	312.6	267.2
Discontinued operations	(5.5)	(7)
Net earnings attributable to Trane Technologies plc	$ 307.1	$ 260.2
Basic:
Continuing operations	$ 1.36	$ 1.14
Discontinued operations	(0.02)	(0.03)
Net earnings	1.34	1.11
Diluted:
Continuing operations	1.35	1.13
Discontinued operations	(0.02)	(0.03)
Net earnings	$ 1.33	$ 1.10
Weighted-average shares outstanding
Basic	229.3	234.6
Diluted	231.5	237.1

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Net earnings	$ 311.1	$ 263.4
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	61.4	(17.1)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	0.3	12.5
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	6.9	(0.6)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax	(1.5)	(3.1)
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification and Tax	5.7	8.8
Other Comprehensive (Income) Loss, Defined Benefit Plan, Gain (Loss), Reclassification Adjustment from AOCI, before Tax	1.8	5.5
Other Comprehensive Income (Loss), Defined Benefit Plan, Settlement and Curtailment Gain (Loss), before Tax	1.1	0
OtherComprehensiveIncomeLossPensionAndOtherPostretirementBenefitPlansCurrencyTranslationBeforeTax	(2.6)	2.6
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, Tax	0	(1.2)
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	0.3	6.9
Other comprehensive income (loss)	67.4	(1.4)
Comprehensive Income, Net of Tax, Including Portion Attributable to Noncontrolling Interest	378.5	262
Comprehensive Income, Net of Tax, Attributable to Noncontrolling Interest	(4.5)	(3.2)
Comprehensive Income, Net of Tax, Attributable to Parent	$ 374	$ 258.8

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
ASSETS
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	$ 692.9	$ 1,220.5
Accounts and notes receivable, net	2,606	2,780.1
Inventories	2,343.7	1,993.8
Other current assets	432.2	384.8
Total current assets	6,074.8	6,379.2
Property, plant and equipment, net	1,582.3	1,536.1
Goodwill	5,522.6	5,503.7
Intangible assets, net	3,231.4	3,264
Other noncurrent assets	1,486.3	1,398.6
Total assets	17,897.4	18,081.6
LIABILITIES AND EQUITY
Accounts payable	1,962.6	2,091.6
Accrued compensation and benefits	354.9	541.2
Accrued expenses and other current liabilities	2,165.6	2,006
Short-term borrowings and current maturities of long-term debt	348.3	1,048
Total current liabilities	4,831.4	5,686.8
Long-term debt	4,481.8	3,788.3
Postemployment and other benefit liabilities	674.9	667
Deferred and noncurrent income taxes	636.3	680.1
Other noncurrent liabilities	1,218.7	1,154.2
Total liabilities	11,843.1	11,976.4
Equity:
Ordinary shares	252.5	253.3
Treasury Stock, Value	(1,719.4)	(1,719.4)
Retained earnings	8,202.3	8,320.9
Accumulated other comprehensive income (loss)	(699.3)	(766.2)
Total Trane Technologies plc shareholders’ equity	6,036.1	6,088.6
Noncontrolling interests	18.2	16.6
Total equity	6,054.3	6,105.2
Total liabilities and equity	$ 17,897.4	$ 18,081.6

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Ordinary shares	Capital in excess of par value	Retained earnings	Accumulated  other comprehensive income (loss)	Noncontrolling Interests	Treasury Stock, Common
Beginning balance at Dec. 31, 2021	$ 6,273.1	$ 259.7	$ 0	$ 8,353.2	$ (637.6)	$ 17.2	$ (1,719.4)
Beginning balance (shares) at Dec. 31, 2021		259.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	263.4			260.2		3.2
Other comprehensive income (loss)	(1.4)				(1.4)	0
Shares issued under incentive stock plans		$ (0.5)
Shares issued under incentive stock plans (shares)		0.5
Stock Issued During Period, Value, Stock Options Exercised, net of tax remittances	(24.2)		(24.7)
Repurchase of ordinary shares	(350)	$ (1.9)	3.3	(351.4)
Repurchase of ordinary shares (shares)		(1.9)
Share-based compensation	21.4		21.3	0.1
Dividends declared to noncontrolling interest	(2.5)					(2.5)
Cash dividends declared	156.7			156.7
Stockholders' Equity Note, Spinoff Transaction	(6.7)			(6.7)	0	0
Other	(0.1)		(0.1)
Ending balance (shares) at Mar. 31, 2022		258.3
Ending balance at Mar. 31, 2022	6,016.5	$ 258.3	0	8,098.7	(639)	17.9	(1,719.4)
Beginning balance at Dec. 31, 2022	6,105.2	$ 253.3	0	8,320.9	(766.2)	16.6	$ (1,719.4)
Beginning balance (shares) at Dec. 31, 2022		253.3					24.5
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	311.1			307.1		4
Other comprehensive income (loss)	67.4				66.9	0.5
Shares issued under incentive stock plans		$ (0.8)
Shares issued under incentive stock plans (shares)		0.8
Stock Issued During Period, Value, Stock Options Exercised, net of tax remittances	21.3		20.5
Repurchase of ordinary shares	(300)	$ (1.6)	(45)	(253.4)
Repurchase of ordinary shares (shares)		(1.6)					0
Share-based compensation	23.8		24.4	(0.6)
Dividends declared to noncontrolling interest	(2.9)					(2.9)
Cash dividends declared	171.7			171.7
Other	(0.1)		(0.1)
Ending balance (shares) at Mar. 31, 2023		252.5					24.5
Ending balance at Mar. 31, 2023	$ 6,054.3	$ 252.5	$ 0	$ 8,202.3	$ (699.3)	$ 18.2	$ (1,719.4)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net earnings	$ 311.1	$ 263.4
Discontinued operations, net of tax	5.5	7
Adjustments for non-cash transactions:
Depreciation and amortization	79.8	77.3
Pension and Other Postretirement Benefits Expense (Reversal of Expense), Noncash	13.5	10.3
Stock settled share-based compensation	24.4	21.4
Changes in assets and liabilities, net of the effects of acquisitions	(414.4)	(370.3)
Other non-cash items, net	(3.1)	(13)
Net cash provided by (used in) continuing operating activities	16.8	(3.9)
Net cash provided by (used in) discontinued operating activities	(8.3)	(184.3)
Net cash provided by (used in) operating activities	8.5	(188.2)
Cash flows from investing activities:
Payments to Acquire Property, Plant, and Equipment	(77.1)	(74.8)
Other investing activities, net	(13.9)	(7.9)
Net cash provided by (used in) continuing investing activities	(91)	(82.7)
Net cash provided by (used in) discontinued investing activities	0	(0.6)
Net cash provided by (used in) investing activities	(91)	(83.3)
Cash flows from financing activities:
Proceeds from long-term debt	699.1	0
Payments of long-term debt	(700)	0
Proceeds from (Repayments of) Debt	(0.9)	0
Debt issuance costs	(6.4)	0
Dividends paid to ordinary shareholders	(170.3)	(155.9)
Dividends paid to noncontrolling interests	(2.9)	(2.5)
Proceeds (payments) from shares issued under incentive plans, net	21.3	24.2
Repurchase of ordinary shares	(300)	(350)
Other financing, net	0	(2)
Net Cash Provided by (Used in) Financing Activities	(459.2)	(534.6)
Effect of exchange rate changes on cash and cash equivalents	14.1	(4.7)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	(527.6)	(810.8)
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Disposal Group and Discontinued Operations	$ 692.9	$ 1,348.4

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2023
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 we, our, the Company or Trane Technologies) is a global climate innovator. The Company brings sustainable and efficient solutions to buildings, homes and transportation through the Company's strategic brands, Trane® and Thermo King®, and its environmentally responsible portfolio of products, services and connected intelligent controls. The Company generates revenue and cash primarily through the design, manufacture, sales and service of solutions for Heating, Ventilation and Air Conditioning (HVAC), transport refrigeration, and custom refrigeration solutions. The accompanying unaudited Condensed Consolidated Financial Statements of Trane Technologies 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, 2022. 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. 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. 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 17, "Commitments and Contingencies," for more information regarding the status of Chapter 11 bankruptcy and asbestos-related matters.

Recent Accounting Pronouncement

Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2023
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

Inventories

Inventories	3 Months Ended
	Mar. 31, 2023
Inventory, Net [Abstract]
Inventories	Inventories The major classes of inventory were as follows: In millions March 31, December 31, Raw materials $ 587.5 $ 509.6 Work-in-process 424.9 333.8 Finished goods 1,467.8 1,280.3 2,480.2 2,123.7 LIFO reserve (136.5) (129.9) Total $ 2,343.7 $ 1,993.8 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 the lower of cost and net realizable value. Reserve balances, primarily related to obsolete and slow-moving inventories, were $102.8 million and $94.3 million at March 31, 2023 and December 31, 2022, respectively.

Goodwill

Goodwill	3 Months Ended
	Mar. 31, 2023
Goodwill Abstract
Goodwill	Goodwill The changes in the carrying amount of goodwill for the three months ended March 31, 2023 were as follows: In millions Americas EMEA Asia Pacific Total Net balance as of December 31, 2022 $ 4,226.8 $ 714.9 $ 562.0 $ 5,503.7 Measurement period adjustment — (6.8) 0.1 (6.7) Currency translation 1.6 17.5 6.5 25.6 Net balance as of March 31, 2023 $ 4,228.4 $ 725.6 $ 568.6 $ 5,522.6 The net goodwill balances at March 31, 2023 and December 31, 2022 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	3 Months Ended
	Mar. 31, 2023
Intangible Assets Abstract
Intangible Assets	Intangible Assets The gross amount of the Company’s intangible assets and related accumulated amortization were as follows: March 31, 2023 December 31, 2022 In millions Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Customer relationships $ 2,188.4 $ (1,626.9) $ 561.5 $ 2,183.7 $ (1,592.1) $ 591.6 Other 277.3 (217.5) 59.8 261.7 (213.4) 48.3 Total finite-lived intangible assets 2,465.7 (1,844.4) 621.3 2,445.4 (1,805.5) 639.9 Trademarks (indefinite-lived) 2,610.1 — 2,610.1 2,624.1 — 2,624.1 Total $ 5,075.8 $ (1,844.4) $ 3,231.4 $ 5,069.5 $ (1,805.5) $ 3,264.0

Debt and Credit Facilities

Debt and Credit Facilities	3 Months Ended
	Mar. 31, 2023
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 March 31, December 31, Debentures with put feature $ 340.8 $ 340.8 4.250% Senior notes due 2023 — 699.7 Other current maturities of long-term debt 7.5 7.5 Total $ 348.3 $ 1,048.0 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. Under the commercial paper program, the Company may issue notes from time to time through Trane Technologies HoldCo Inc. or Trane Technologies Financing Limited. Each of Trane Technologies plc, Trane Technologies Irish Holdings Unlimited Company, Trane Technologies Lux International Holding Company S.à.r.l., Trane Technologies Global Holding Company Limited, Trane Technologies Company LLC provided irrevocable and unconditional guarantees for any notes issued under the commercial paper program. In addition, Trane Technologies HoldCo Inc. and Trane Technologies Financing Limited provide irrevocable and unconditional guarantees for any notes issued by the other. The Company had no outstanding balance under its commercial paper program as of March 31, 2023 and December 31, 2022. Debentures with Put Feature At March 31, 2023 and December 31, 2022, the Company had $340.8 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 2023, subject to the notice requirement. No exercises were made. Long-term debt , excluding current maturities, consisted of the following: In millions March 31, December 31, 7.200% Debentures due 2023-2025 $ 14.9 $ 14.9 3.550% Senior notes due 2024 498.9 498.7 6.480% Debentures due 2025 149.7 149.7 3.500% Senior notes due 2026 398.5 398.4 3.750% Senior notes due 2028 546.9 546.8 3.800% Senior notes due 2029 745.9 745.8 5.250% Senior notes due 2033 692.7 — 5.750% Senior notes due 2043 495.3 495.2 4.650% Senior notes due 2044 296.5 296.4 4.300% Senior notes due 2048 296.5 296.4 4.500% Senior notes due 2049 346.0 346.0 Total $ 4,481.8 $ 3,788.3 Issuance of Senior Notes In March 2023, the Company, through its wholly-owned subsidiary Trane Technologies Financing Limited, issued $700.0 million aggregate principal amount of 5.250% senior notes due 2033. The notes are guaranteed by each of Trane Technologies plc, Trane Technologies Global Holding Company Limited, Trane Technologies Lux International Holding Company S.a.r.l., Trane Technologies Irish Holdings Unlimited Company, Trane Technologies Company LLC and Trane Technologies Holdco Inc. The Company has the option to redeem the notes in whole or in part at any time prior to their stated maturity date at redemption prices set forth in the indenture agreement. The notes are subject to certain customary covenants, however, none of these covenants are considered restrictive to the Company’s operations. The net proceeds from the offering were used to fund the redemption of the $700.0 million aggregate principal amount of the outstanding 4.250% senior notes due June 2023. Other Credit Facilities The Company maintains two $1.0 billion senior unsecured revolving credit facilities, one of which matures in June 2026 and the other which matures in April 2027 (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). Both Facilities 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. The Facilities provide 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 March 31, 2023 and December 31, 2022. Fair Value of Debt

Payables and Accruals

Payables and Accruals	3 Months Ended
	Mar. 31, 2023
Supplier Financing Arrangements [Abstract]
Supplier financing arrangements	Supplier Financing Arrangements The Company has an agreement with a U.S. financial institution that allows its suppliers to sell their receivables to the financial institution at the sole discretion of both the supplier and the financial institution on terms that are negotiated between them. The Company may not always notified when its suppliers sell receivables under this program. The Company’s obligations to its suppliers, including the amounts due and scheduled payment dates, are not impacted by the suppliers’ decisions to sell their receivables under the program. Outstanding invoices under the supplier financing program were $110.9 million and $110.6 million at March 31, 2023 and December 31, 2022, respectively, which are included within Accounts payable in the Condensed Consolidated Balance Sheet.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023: In millions Fair Value Fair value measurements Level 1 Level 2 Level 3 Assets: Derivative instruments $ 4.9 $ — $ 4.9 $ — Liabilities: Derivative instruments 5.2 — 5.2 — Contingent consideration 52.0 — — 52.0 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, 2022: In millions Fair Value Fair value measurements Level 1 Level 2 Level 3 Assets: Derivative instruments $ 5.1 $ — $ 5.1 $ — Liabilities: Derivative instruments 11.9 — 11.9 — Contingent consideration 49.3 — — 49.3 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 publicized prices, where applicable, or dealer quotes. On October 15, 2021, the Company acquired 100% of Farrar Scientific Corporation's (Farrar Scientific) assets. In connection with the acquisition, the Company agreed to contingent consideration 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. The fair value of the contingent consideration is determined using the Monte Carlo simulation model based on projections of revenues for Farrar Scientific during the period of January 1, 2022 through December 31, 2024, implied revenue volatility and a risk adjusted discount rate. Each quarter the Company is required to remeasure the fair value of the liability as assumptions change and such non-cash adjustments are recorded in Selling and administrative expenses in the Condensed Consolidated Statements of Earnings. Contingent consideration related to acquisitions are measured at fair value each reporting period using Level 3 unobservable inputs. The changes in the fair value of the Company's Level 3 liabilities were as follows: In millions March 31, December 31, Balance at beginning of period $ 49.3 $ 96.2 Change in fair value of contingent consideration 2.7 (46.9) Balance at end of period $ 52.0 $ 49.3 The fair value of the contingent consideration is measured on a recurring basis at each reporting date. The following inputs and assumptions were used in the Monte Carlo simulation model to estimate the fair value of the contingent consideration: March 31, December 31, Discount rate 12.25 % 12.00 % Volatility 20.00 % 20.00 % 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	3 Months Ended
	Mar. 31, 2023
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 non-contributory 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 months ended March 31 were as follows: Three months ended In millions 2023 2022 Service cost $ 8.6 $ 12.0 Interest cost 29.8 17.8 Expected return on plan assets (29.9) (26.3) Net amortization of: Prior service costs (benefits) 0.9 1.0 Net actuarial (gains) losses 4.0 5.9 Net periodic pension benefit cost 13.4 10.4 Net curtailment and settlement losses 1.1 — Net periodic pension benefit cost after net curtailment and settlement losses $ 14.5 $ 10.4 Amounts recorded in continuing operations: Operating income $ 7.5 $ 11.0 Other income/(expense), net 5.3 (1.5) Amounts recorded in discontinued operations 1.7 0.9 Total $ 14.5 $ 10.4 The Company made contributions to its defined benefit pension plans of $26.7 million and $4.1 million during the three months ended March 31, 2023 and 2022, respectively. The Company currently projects that it will contribute a total of approximately $70 million to its enterprise plans worldwide in 2023. 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 months ended March 31 were as follows: Three months ended In millions 2023 2022 Service cost $ 0.4 $ 0.5 Interest cost 3.3 1.7 Net amortization of: Prior service costs (benefits) 0.2 — Net actuarial (gains) losses (3.3) (1.4) Net periodic postretirement benefit cost $ 0.6 $ 0.8 Amounts recorded in continuing operations: Operating income $ 0.4 $ 0.5 Other income/(expense), net 0.3 0.3 Amounts recorded in discontinued operations (0.1) — Total $ 0.6 $ 0.8

Equity

Equity	3 Months Ended
	Mar. 31, 2023
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 March 31, 2023 or December 31, 2022. Changes in ordinary shares and treasury shares for the three months ended March 31, 2023 were as follows: In millions Ordinary shares issued Ordinary shares held in treasury December 31, 2022 253.3 24.5 Shares issued under incentive plans, net 0.8 — Repurchase of ordinary shares (1.6) — March 31, 2023 252.5 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 February 2022, the Company's Board of Directors authorized a share repurchase program of up to $3.0 billion of its ordinary shares (2022 Authorization) upon the completion of its $2.0 billion ordinary share repurchase program authorized in 2021 (2021 Authorization). During the three months ended March 31, 2023, the Company repurchased and canceled approximately $300 million of its ordinary shares, thus completing the 2021 Authorization and initiating repurchases under the 2022 Authorization of approximately $100 million of its ordinary shares leaving $2.9 billion remaining under the 2022 Authorization. Accumulated Other Comprehensive Income (Loss) The changes in Accumulated other comprehensive income (loss) for the three months ended March 31, 2023 were as follows: In millions Derivative Instruments Pension and OPEB Foreign Currency Translation Total Balance at December 31, 2022 $ (4.5) $ (214.1) $ (547.6) $ (766.2) Other comprehensive income (loss) attributable to Trane Technologies plc 5.7 0.3 60.9 66.9 Balance at March 31, 2023 $ 1.2 $ (213.8) $ (486.7) $ (699.3) Other comprehensive income (loss) attributable to noncontrolling interests for the three months ended March 31, 2023 included a gain of $0.5 million related to currency translation. The changes in Accumulated other comprehensive income (loss) for the three months ended March 31, 2022 were as follows: In millions Derivative Instruments Pension and OPEB Foreign Currency Translation Total Balance at December 31, 2021 $ 7.1 $ (297.9) $ (346.8) $ (637.6) Other comprehensive income (loss) attributable to Trane Technologies plc 8.8 6.9 (17.1) (1.4) Balance at March 31, 2022 $ 15.9 $ (291.0) $ (363.9) $ (639.0)

Revenue

Revenue	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregated Revenue Net revenues by geography and major type of good or service for the three months ended March 31 were as follows: Three months ended In millions 2023 2022 Americas Equipment $ 1,900.6 $ 1,784.5 Services 960.4 848.7 Total Americas $ 2,861.0 $ 2,633.2 EMEA Equipment $ 365.1 $ 301.3 Services 145.4 140.0 Total EMEA $ 510.5 $ 441.3 Asia Pacific Equipment $ 201.7 $ 202.1 Services 92.6 78.9 Total Asia Pacific $ 294.3 $ 281.0 Total Net revenues $ 3,665.8 $ 3,355.5 Revenue from goods and services transferred to customers at a point in time accounted for approximately 81% and 82% of the Company’s revenue for the three months ended March 31, 2023 and 2022, respectively. Contract Balances The opening and closing balances of contract assets and contract liabilities arising from contracts with customers for the period ended March 31, 2023 and December 31, 2022 were as follows: In millions Location on Condensed Consolidated Balance Sheets March 31, December 31, 2022 Contract assets- - current Other current assets $ 216.0 $ 201.2 Contract assets - noncurrent Other noncurrent assets 238.9 239.6 Contract liabilities - current Accrued expenses and other current liabilities 1,103.1 1,010.6 Contract liabilities - noncurrent Other noncurrent liabilities 478.6 471.4 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 months ended March 31, 2023, changes in contract asset and liability balances were not materially impacted by any other factors. Approximately 25% of the contract liability balance at December 31, 2022 was recognized as revenue during the three months ended March 31, 2023. Additionally, approximately 30% of the contract liability balance at March 31, 2023 was classified as noncurrent and not expected to be recognized as revenue in the next 12 months.

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Share-Based Compensation	Share-Based Compensation The Company accounts for share-based compensation plans under the fair value based method. 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. Share-based compensation expense related to continuing operations is included in Selling and administrative expenses . The expense recognized for the three months ended March 31 was as follows: Three months ended In millions 2023 2022 Stock options $ 9.0 $ 7.8 RSUs 10.6 9.0 Performance shares 4.4 4.1 Deferred compensation 1.0 1.1 Pre-tax expense 25.0 22.0 Tax benefit (6.1) (5.3) After-tax expense $ 18.9 $ 16.7 Grants issued during the three months ended March 31 were as follows: 2023 2022 Number Weighted- Number Weighted- Stock options 388,150 $ 46.71 428,387 $ 35.98 RSUs 159,272 $ 177.79 113,939 $ 169.83 Performance shares (1) 203,186 $ 207.41 188,754 $ 170.60 (1) The number of performance shares represents the maximum award level. 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 expense for the 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 three months ended March 31: 2023 2022 Dividend yield 1.50 % 1.60 % Volatility 29.35 % 28.23 % Risk-free rate of return 3.60 % 1.56 % 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 shares. • 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 shares 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 US 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 canceled 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. 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 model in a risk-neutral framework based upon historical volatility, risk-free rates and correlation matrix. 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.

Other Income_(Expense), Net

Other Income/(Expense), Net	3 Months Ended
	Mar. 31, 2023
Other Net [Abstract]
Other, Net	Other Income/(Expense), Net The components of Other income/(expense), net for the three months ended March 31 were as follows: Three months ended In millions 2023 2022 Interest income $ 4.4 $ 1.3 Foreign currency exchange loss (6.6) (3.6) Other components of net periodic benefit credit/(cost) (5.6) 1.2 Other activity, net (1.6) 0.4 Other income/(expense), net $ (9.4) $ (0.7) Other income/(expense), net includes the results from activities other than core 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 postretirement obligations other than the service cost component. Other activity, net primarily includes items associated with certain legal matters, as well as activities related to Murray. Refer to Note 17, "Commitments and Contingencies," for more information regarding asbestos-related matters.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company accounts for its Provision for income taxes by applying an estimate of the annual effective income tax rate for the full year to the respective interim period, taking into account year-to-date amounts and projected results for the full year. For the three months ended March 31, 2023 and March 31, 2022, the Company’s effective income tax rate was 18.8% and 18.4%, respectively. The effective tax rate for the three months ended March 31, 2023 and March 31, 2022 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. Total unrecognized tax benefits for both March 31, 2023 and December 31, 2022 were $82.4 million. 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

Earnings Per Share (EPS)

Earnings Per Share (EPS)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share (EPS)	Earnings Per Share 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 months ended March 31: Three months ended In millions, except per share amounts 2023 2022 Weighted-average number of basic shares 229.3 234.6 Shares issuable under incentive share plans 2.2 2.5 Weighted-average number of diluted shares 231.5 237.1 Anti-dilutive shares 0.8 0.9 Dividends declared per ordinary share $ 0.75 $ 0.67

Business Segment Information

Business Segment Information	3 Months Ended
	Mar. 31, 2023
Segment Reporting [Abstract]
Business Segment Information	Business Segment Information The Company operates under four regional operating segments designed to create deep customer focus and relevance in markets around the world. The Company determined that its two Europe, Middle East and Africa (EMEA) operating segments meet the aggregation criteria based on similar operating and economic characteristics, resulting in one reportable segment. Therefore, the Company has three regional reportable segments, Americas, EMEA and Asia Pacific. Intercompany sales between segments are immaterial. • The Company’s Americas segment innovates for customers in North America and Latin America. The Americas segment encompasses commercial heating, cooling and ventilation 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, cooling and ventilation 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, cooling and ventilation systems, services and solutions for commercial buildings, and transport refrigeration systems and solutions. Management measures segment operating performance based on net earnings excluding interest expense, income taxes, depreciation and amortization, restructuring, non-cash adjustment for contingent consideration, merger and acquisition-related costs, 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 months ended March 31 was as follows: Three months ended In millions 2023 2022 Net revenues Americas $ 2,861.0 $ 2,633.2 EMEA 510.5 441.3 Asia Pacific 294.3 281.0 Total Net revenues $ 3,665.8 $ 3,355.5 Segment Adjusted EBITDA Americas $ 455.8 $ 405.6 EMEA 94.4 59.1 Asia Pacific 57.2 43.5 Total Segment Adjusted EBITDA $ 607.4 $ 508.2 Reconciliation of Segment Adjusted EBITDA to earnings before income taxes Total Segment Adjusted EBITDA $ 607.4 $ 508.2 Interest expense (57.6) (56.0) Depreciation and amortization (79.8) (77.3) Restructuring costs (6.3) (1.3) Non-cash adjustment for contingent consideration (2.7) 6.5 Acquisition inventory step-up (2.2) — Unallocated corporate expenses (69.0) (48.6) Earnings before income taxes $ 389.8 $ 331.5

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
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. 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 have been 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 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 and to 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, at the request of Aldrich and Murray, the Bankruptcy Court has 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. The goal of these Chapter 11 filings is to resolve equitably and permanently all current and future asbestos-related claims in a manner beneficial to claimants and to Aldrich and Murray through court approval of a plan of reorganization that would create a trust pursuant to section 524(g) of the Bankruptcy Code, establish claims resolution procedures for all current and future asbestos-related claims against Aldrich and Murray and channel such claims to the trust for resolution in accordance with those procedures. Aldrich and Murray intend to seek an agreement with representatives of the asbestos claimants 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 in the second quarter of 2020 primarily related to the legacy asbestos-related liabilities and asbestos-related insurance recoveries and $41.7 million of cash. Upon deconsolidation in the second quarter of 2020, 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 $24.9 million in its Condensed Consolidated Statements of Earnings during the year ended December 31, 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 $25.8 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 year ended December 31, 2020. On August 26, 2021, the Company announced that Aldrich and Murray reached an agreement in principle with the court-appointed legal representative of future asbestos claimants (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 agreement in principle reached with the FCR. On the same date, 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" within the meaning of the Treasury Regulations under Section 468B of the Internal Revenue Code (QSF). The funds held in the QSF would be available to provide funding for the Section 524(g) Trust upon effectiveness of the Plan. During the third quarter of 2021, in connection with the agreement in principle reached by Aldrich and Murray with the FCR and the motion to create a $270.0 million QSF, 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. On January 27, 2022, the Bankruptcy Court granted the request to fund the QSF, which was funded on March 2, 2022, resulting in an operating cash outflow of $270.0 million in the Company’s Condensed Consolidated Statements of Cash Flows, of which $91.8 million was allocated to continuing operations and $178.2 million was allocated to discontinued operations for the three months ended March 31, 2022. On April 18, 2022, the Bankruptcy Court entered an order granting Aldrich and Murray's request to seek to estimate their aggregate liability for all current and future asbestos-related personal injury claims. Aldrich and Murray are pursuing discovery and related matters in connection with the estimation proceedings. On October 18, 2021, the ACC filed a motion seeking standing to pursue and investigate on behalf of the bankruptcy estates of Aldrich and Murray, claims arising from or related to the 2020 Corporate Restructuring. Also on October 18, 2021, the ACC filed a complaint seeking to substantively consolidate the bankruptcy estates of Aldrich and Murray with certain of the Company's subsidiaries. On December 20, 2021, Aldrich, Murray and certain of the Company's subsidiaries filed motions to dismiss the ACC's substantive consolidation complaint. On April 14, 2022, the Bankruptcy Court granted the ACC's standing motion and denied the motions to dismiss the substantive consolidation complaint. On June 18, 2022, the ACC filed complaints against the Company and other related parties asserting various claims and causes of action arising from or related to the 2020 Corporate Restructuring. Additionally, the Bankruptcy Court denied motions to dismiss the ACC's substantive consolidation complaint. While the Company is vigorously opposing and defending against these claims, 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. The Chapter 11 cases remain pending as of May 3, 2023. 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 Earnings. Since the Petition Date, there were no material transactions between the Company and these entities other than as described above. 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 and off-site waste disposal facilities. It is the Company’s policy to establish environmental reserves for investigation and remediation activities when it is probable that a liability has been incurred and a reasonable estimate of the liability can be made. Estimated liabilities are determined based upon existing remediation laws and technologies. Inherent uncertainties exist in such evaluations due to unknown environmental conditions, changes in government laws and regulations, and changes in cleanup technologies. The environmental reserves are updated on a routine basis as remediation efforts progress and new information becomes available. 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 and international authorities. The Company 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. In most instances at multi-party sites, the Company’s share of the liability is not material. In estimating its liability at multi-party sites, 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. 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 March 31, 2023 and December 31, 2022, the Company has recorded reserves for environmental matters of $43.1 million and $42.4 million, respectively. Of these amounts, $37.0 million and $36.5 million, respectively, relate to investigation and remediation of properties and multi-waste disposal sites related to businesses formerly owned 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 three months ended March 31 were as follows: In millions 2023 Balance at beginning of period $ 323.6 Reductions for payments (33.0) Accruals for warranties issued during the current period 34.5 Changes to accruals related to preexisting warranties (1.3) Translation 0.9 Balance at end of period $ 324.7 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 March 31, 2023 and December 31, 2022 was $122.6 million and $120.4 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 three months ended March 31 were as follows: In millions 2023 Balance at beginning of period $ 317.7 Amortization of deferred revenue for the period (26.1) Additions for extended warranties issued during the period 31.9 Changes to accruals related to preexisting warranties (0.4) Translation 0.5 Balance at end of period $ 323.6 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 March 31, 2023 and December 31, 2022 was $114.9 million and $110.5 million, respectively.

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2023
Inventory, Net [Abstract]
MajorClassesOfInventory [Table Text Block]	The major classes of inventory were as follows: In millions March 31, December 31, Raw materials $ 587.5 $ 509.6 Work-in-process 424.9 333.8 Finished goods 1,467.8 1,280.3 2,480.2 2,123.7 LIFO reserve (136.5) (129.9) Total $ 2,343.7 $ 1,993.8

Goodwill (Tables)

Goodwill (Tables)	3 Months Ended
	Mar. 31, 2023
Goodwill Abstract
Changes in Goodwill Carrying Amounts	The changes in the carrying amount of goodwill for the three months ended March 31, 2023 were as follows: In millions Americas EMEA Asia Pacific Total Net balance as of December 31, 2022 $ 4,226.8 $ 714.9 $ 562.0 $ 5,503.7 Measurement period adjustment — (6.8) 0.1 (6.7) Currency translation 1.6 17.5 6.5 25.6 Net balance as of March 31, 2023 $ 4,228.4 $ 725.6 $ 568.6 $ 5,522.6 The net goodwill balances at March 31, 2023 and December 31, 2022 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)	3 Months Ended
	Mar. 31, 2023
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: March 31, 2023 December 31, 2022 In millions Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Customer relationships $ 2,188.4 $ (1,626.9) $ 561.5 $ 2,183.7 $ (1,592.1) $ 591.6 Other 277.3 (217.5) 59.8 261.7 (213.4) 48.3 Total finite-lived intangible assets 2,465.7 (1,844.4) 621.3 2,445.4 (1,805.5) 639.9 Trademarks (indefinite-lived) 2,610.1 — 2,610.1 2,624.1 — 2,624.1 Total $ 5,075.8 $ (1,844.4) $ 3,231.4 $ 5,069.5 $ (1,805.5) $ 3,264.0

Debt and Credit Facilities (Tab

Debt and Credit Facilities (Tables)	3 Months Ended
	Mar. 31, 2023
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 March 31, December 31, Debentures with put feature $ 340.8 $ 340.8 4.250% Senior notes due 2023 — 699.7 Other current maturities of long-term debt 7.5 7.5 Total $ 348.3 $ 1,048.0
Long-Term Debt Excluding Current Maturities	Long-term debt , excluding current maturities, consisted of the following: In millions March 31, December 31, 7.200% Debentures due 2023-2025 $ 14.9 $ 14.9 3.550% Senior notes due 2024 498.9 498.7 6.480% Debentures due 2025 149.7 149.7 3.500% Senior notes due 2026 398.5 398.4 3.750% Senior notes due 2028 546.9 546.8 3.800% Senior notes due 2029 745.9 745.8 5.250% Senior notes due 2033 692.7 — 5.750% Senior notes due 2043 495.3 495.2 4.650% Senior notes due 2044 296.5 296.4 4.300% Senior notes due 2048 296.5 296.4 4.500% Senior notes due 2049 346.0 346.0 Total $ 4,481.8 $ 3,788.3

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis	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 March 31, 2023: In millions Fair Value Fair value measurements Level 1 Level 2 Level 3 Assets: Derivative instruments $ 4.9 $ — $ 4.9 $ — Liabilities: Derivative instruments 5.2 — 5.2 — Contingent consideration 52.0 — — 52.0	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, 2022: In millions Fair Value Fair value measurements Level 1 Level 2 Level 3 Assets: Derivative instruments $ 5.1 $ — $ 5.1 $ — Liabilities: Derivative instruments 11.9 — 11.9 — Contingent consideration 49.3 — — 49.3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The changes in the fair value of the Company's Level 3 liabilities were as follows: In millions March 31, December 31, Balance at beginning of period $ 49.3 $ 96.2 Change in fair value of contingent consideration 2.7 (46.9) Balance at end of period $ 52.0 $ 49.3
Fair Value Measurement Inputs and Valuation Techniques	The following inputs and assumptions were used in the Monte Carlo simulation model to estimate the fair value of the contingent consideration: March 31, December 31, Discount rate 12.25 % 12.00 % Volatility 20.00 % 20.00 %

Pensions and Postretirement B_2

Pensions and Postretirement Benefits Other than Pensions (Tables)	3 Months Ended
	Mar. 31, 2023
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 months ended March 31 were as follows: Three months ended In millions 2023 2022 Service cost $ 8.6 $ 12.0 Interest cost 29.8 17.8 Expected return on plan assets (29.9) (26.3) Net amortization of: Prior service costs (benefits) 0.9 1.0 Net actuarial (gains) losses 4.0 5.9 Net periodic pension benefit cost 13.4 10.4 Net curtailment and settlement losses 1.1 — Net periodic pension benefit cost after net curtailment and settlement losses $ 14.5 $ 10.4 Amounts recorded in continuing operations: Operating income $ 7.5 $ 11.0 Other income/(expense), net 5.3 (1.5) Amounts recorded in discontinued operations 1.7 0.9 Total $ 14.5 $ 10.4
Other Postretirement Benefit Plan, Defined Benefit [Member]
Schedule of Net Periodic Benefit Cost	The components of net periodic postretirement benefit cost for the three months ended March 31 were as follows: Three months ended In millions 2023 2022 Service cost $ 0.4 $ 0.5 Interest cost 3.3 1.7 Net amortization of: Prior service costs (benefits) 0.2 — Net actuarial (gains) losses (3.3) (1.4) Net periodic postretirement benefit cost $ 0.6 $ 0.8 Amounts recorded in continuing operations: Operating income $ 0.4 $ 0.5 Other income/(expense), net 0.3 0.3 Amounts recorded in discontinued operations (0.1) — Total $ 0.6 $ 0.8

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2023
Stockholders' Equity Note [Abstract]
Reconciliation of Ordinary Shares	Changes in ordinary shares and treasury shares for the three months ended March 31, 2023 were as follows: In millions Ordinary shares issued Ordinary shares held in treasury December 31, 2022 253.3 24.5 Shares issued under incentive plans, net 0.8 — Repurchase of ordinary shares (1.6) — March 31, 2023 252.5 24.5
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The changes in Accumulated other comprehensive income (loss) for the three months ended March 31, 2023 were as follows: In millions Derivative Instruments Pension and OPEB Foreign Currency Translation Total Balance at December 31, 2022 $ (4.5) $ (214.1) $ (547.6) $ (766.2) Other comprehensive income (loss) attributable to Trane Technologies plc 5.7 0.3 60.9 66.9 Balance at March 31, 2023 $ 1.2 $ (213.8) $ (486.7) $ (699.3) Other comprehensive income (loss) attributable to noncontrolling interests for the three months ended March 31, 2023 included a gain of $0.5 million related to currency translation. The changes in Accumulated other comprehensive income (loss) for the three months ended March 31, 2022 were as follows: In millions Derivative Instruments Pension and OPEB Foreign Currency Translation Total Balance at December 31, 2021 $ 7.1 $ (297.9) $ (346.8) $ (637.6) Other comprehensive income (loss) attributable to Trane Technologies plc 8.8 6.9 (17.1) (1.4) Balance at March 31, 2022 $ 15.9 $ (291.0) $ (363.9) $ (639.0)

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of revenues	Net revenues by geography and major type of good or service for the three months ended March 31 were as follows: Three months ended In millions 2023 2022 Americas Equipment $ 1,900.6 $ 1,784.5 Services 960.4 848.7 Total Americas $ 2,861.0 $ 2,633.2 EMEA Equipment $ 365.1 $ 301.3 Services 145.4 140.0 Total EMEA $ 510.5 $ 441.3 Asia Pacific Equipment $ 201.7 $ 202.1 Services 92.6 78.9 Total Asia Pacific $ 294.3 $ 281.0 Total Net revenues $ 3,665.8 $ 3,355.5
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 March 31, 2023 and December 31, 2022 were as follows: In millions Location on Condensed Consolidated Balance Sheets March 31, December 31, 2022 Contract assets- - current Other current assets $ 216.0 $ 201.2 Contract assets - noncurrent Other noncurrent assets 238.9 239.6 Contract liabilities - current Accrued expenses and other current liabilities 1,103.1 1,010.6 Contract liabilities - noncurrent Other noncurrent liabilities 478.6 471.4 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 months ended March 31, 2023, changes in contract asset and liability balances were not materially impacted by any other factors. Approximately 25% of the contract liability balance at December 31, 2022 was recognized as revenue during the three months ended March 31, 2023. Additionally, approximately 30% of the contract liability balance at March 31, 2023 was classified as noncurrent and not expected to be recognized as revenue in the next 12 months.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement, Noncash Expense [Abstract]
Share-Based Compensation Expense	The expense recognized for the three months ended March 31 was as follows: Three months ended In millions 2023 2022 Stock options $ 9.0 $ 7.8 RSUs 10.6 9.0 Performance shares 4.4 4.1 Deferred compensation 1.0 1.1 Pre-tax expense 25.0 22.0 Tax benefit (6.1) (5.3) After-tax expense $ 18.9 $ 16.7
Grants of Stock Options and RSUs	Grants issued during the three months ended March 31 were as follows: 2023 2022 Number Weighted- Number Weighted- Stock options 388,150 $ 46.71 428,387 $ 35.98 RSUs 159,272 $ 177.79 113,939 $ 169.83 Performance shares (1) 203,186 $ 207.41 188,754 $ 170.60 (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 three months ended March 31: 2023 2022 Dividend yield 1.50 % 1.60 % Volatility 29.35 % 28.23 % Risk-free rate of return 3.60 % 1.56 % Expected life in years 4.8 4.8

Other Income_(Expense), Net (Ta

Other Income/(Expense), Net (Tables)	3 Months Ended
	Mar. 31, 2023
Other Net [Abstract]
Other, Net	The components of Other income/(expense), net for the three months ended March 31 were as follows: Three months ended In millions 2023 2022 Interest income $ 4.4 $ 1.3 Foreign currency exchange loss (6.6) (3.6) Other components of net periodic benefit credit/(cost) (5.6) 1.2 Other activity, net (1.6) 0.4 Other income/(expense), net $ (9.4) $ (0.7)

Earnings Per Share (EPS) (Table

Earnings Per Share (EPS) (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares	The following table summarizes the weighted-average number of ordinary shares outstanding for basic and diluted earnings per share calculations for the three months ended March 31: Three months ended In millions, except per share amounts 2023 2022 Weighted-average number of basic shares 229.3 234.6 Shares issuable under incentive share plans 2.2 2.5 Weighted-average number of diluted shares 231.5 237.1 Anti-dilutive shares 0.8 0.9 Dividends declared per ordinary share $ 0.75 $ 0.67

Business Segment Information (T

Business Segment Information (Tables)	3 Months Ended
	Mar. 31, 2023
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 months ended March 31 was as follows: Three months ended In millions 2023 2022 Net revenues Americas $ 2,861.0 $ 2,633.2 EMEA 510.5 441.3 Asia Pacific 294.3 281.0 Total Net revenues $ 3,665.8 $ 3,355.5 Segment Adjusted EBITDA Americas $ 455.8 $ 405.6 EMEA 94.4 59.1 Asia Pacific 57.2 43.5 Total Segment Adjusted EBITDA $ 607.4 $ 508.2 Reconciliation of Segment Adjusted EBITDA to earnings before income taxes Total Segment Adjusted EBITDA $ 607.4 $ 508.2 Interest expense (57.6) (56.0) Depreciation and amortization (79.8) (77.3) Restructuring costs (6.3) (1.3) Non-cash adjustment for contingent consideration (2.7) 6.5 Acquisition inventory step-up (2.2) — Unallocated corporate expenses (69.0) (48.6) Earnings before income taxes $ 389.8 $ 331.5

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2023
Schedule of Product Warranty Liability [Table Text Block]	The changes in the standard product warranty liability for the three months ended March 31 were as follows: In millions 2023 Balance at beginning of period $ 323.6 Reductions for payments (33.0) Accruals for warranties issued during the current period 34.5 Changes to accruals related to preexisting warranties (1.3) Translation 0.9 Balance at end of period $ 324.7
Extended Warranty [Member]
Schedule of Product Warranty Liability [Table Text Block]	The changes in the extended warranty liability for the three months ended March 31 were as follows: In millions 2023 Balance at beginning of period $ 317.7 Amortization of deferred revenue for the period (26.1) Additions for extended warranties issued during the period 31.9 Changes to accruals related to preexisting warranties (0.4) Translation 0.5 Balance at end of period $ 323.6

Basis of Presentation (Details)

Basis of Presentation (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash dividends declared	$ 171.7	$ 156.7
Retained earnings
Cash dividends declared	$ 171.7	$ 156.7

Inventories (Schedule of Major

Inventories (Schedule of Major Classes of Inventory) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Inventory Valuation Reserves	$ (102.8)	$ (94.3)
Raw materials	587.5	509.6
Work-in-process	424.9	333.8
Finished goods	1,467.8	1,280.3
Sub-total	2,480.2	2,123.7
LIFO reserve	(136.5)	(129.9)
Total	$ 2,343.7	$ 1,993.8

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Accumulated Impairment	$ (2,496)	$ (2,496)
Currency translation	25.6
Goodwill	5,522.6	5,503.7
Goodwill, Purchase Accounting Adjustments	6.7
Americas [Member]
Goodwill [Roll Forward]
Currency translation	1.6
Goodwill	4,228.4	4,226.8
Goodwill, Purchase Accounting Adjustments	0
EMEA [Member]
Goodwill [Roll Forward]
Currency translation	17.5
Goodwill	725.6	714.9
Goodwill, Purchase Accounting Adjustments	(6.8)
Asia Pacific [Member]
Goodwill [Roll Forward]
Currency translation	6.5
Goodwill	568.6	$ 562
Goodwill, Purchase Accounting Adjustments	$ 0.1

Intangible Assets (Details)

Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Finite-lived intangible assets, gross	$ 2,465.7		$ 2,445.4
Accumulated amortization	(1,844.4)		(1,805.5)
Net finite-lived intangible assets	621.3		639.9
Intangible Assets, Gross (Excluding Goodwill)	5,075.8		5,069.5
Intangible assets, net	3,231.4		3,264
Amortization of intangible assets	34.9	$ 33.8
Trademarks [Member]
Trademarks (indefinite-lived)	2,610.1		2,624.1
Customer Relationships [Member]
Finite-lived intangible assets, gross	2,188.4		2,183.7
Accumulated amortization	(1,626.9)		(1,592.1)
Net finite-lived intangible assets	561.5		591.6
Other Intangible Assets [Member]
Finite-lived intangible assets, gross	277.3		261.7
Accumulated amortization	(217.5)		(213.4)
Net finite-lived intangible assets	$ 59.8		$ 48.3

Debt and Credit Facilities (Nar

Debt and Credit Facilities (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Feb. 28, 2023	Dec. 31, 2022
Proceeds from long-term debt	$ 699.1	$ 0
Long-term debt excluding current maturities	4,481.8			$ 3,788.3
Short-term borrowings and current maturities of long-term debt	348.3			1,048
Repayments of Long-term Debt	700	$ 0
Debt Instrument, Fair Value Disclosure	4,700			4,600
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	340.8			340.8
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	$ 398.5			$ 398.4
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	$ 745.9			$ 745.8
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	$ 346			$ 346
Debt Instrument, Interest Rate, Stated Percentage	4.50%			4.50%
5.75% Senior notes due 2043 [Member]
Long-term debt excluding current maturities	$ 495.3			$ 495.2
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	$ 498.9			$ 498.7
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	$ 296.5			$ 296.4
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
2027 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	Mar. 31, 2023	Dec. 31, 2022
Short-term borrowings and current maturities of long-term debt	$ 348.3	$ 1,048
Long-term debt excluding current maturities	4,481.8	3,788.3
Debentures With Put Feature [Member]
Short-term borrowings and current maturities of long-term debt	340.8	340.8
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	$ 7.5
4.25% Senior notes due 2023 [Member]
Debt Instrument, Interest Rate, Stated Percentage		4.25%
Long-term debt excluding current maturities	$ 0	$ 699.7

Debt and Credit Facilities (Lon

Debt and Credit Facilities (Long-Term Debt Excluding Current Maturities) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Long-term debt excluding current maturities	$ 4,481.8	$ 3,788.3
Proceeds from Issuance of Debt	700
Debt Instrument, Repaid, Principal	700
Seven Point Two Zero Percent Debentures [Domain]
Long-term debt excluding current maturities	$ 14.9	$ 14.9
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	$ 498.9	$ 498.7
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	$ 398.5	$ 398.4
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	$ 546.9	$ 546.8
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	$ 745.9	$ 745.8
5.75% Senior notes due 2043 [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.75%	5.75%
Long-term debt excluding current maturities	$ 495.3	$ 495.2
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	$ 296.5	$ 296.4
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	$ 296.5	$ 296.4
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	$ 346	$ 346
Five point Twenty-Five Percent Senior Notes Due Two Thousand Thirty Three
Debt Instrument, Interest Rate, Stated Percentage	5.25%	5.25%
Long-term debt excluding current maturities	$ 692.7	$ 0

Payables and Accruals (Details)

Payables and Accruals (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Supplier Financing Arrangements [Abstract]
Supplier Finance Program Financed Payment Obligations Liability	$ 110.9	$ 110.6

Financial Instruments (Narrativ

Financial Instruments (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
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	$ (699.3)	$ (766.2)	$ (639)	$ (637.6)

Financial Instruments Schedule

Financial Instruments Schedule of the Fair Values of Derivative Instruments (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Derivative asset fair value	$ 4.9	$ 5.1
Derivative liability fair value	5.2	11.9
Significant Other Observable Inputs (Level 2) [Member]
Derivatives, Fair Value [Line Items]
Derivative asset fair value	4.9	5.1
Derivative liability fair value	$ 5.2	$ 11.9

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Oct. 15, 2021
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value	$ 52			$ 49.3	$ 96.2
Business Combination, Contingent Consideration, Liability	52			49.3
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	2.7	$ (6.5)	$ (46.9)
Derivative Asset, Fair Value, Gross Asset	4.9			5.1
Derivative Liability, Fair Value, Gross Liability	$ 5.2			$ 11.9
Farrar Scientific
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High						$ 115
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High						$ 115
Measurement Input, Discount Rate | Valuation Technique, Option Pricing Model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business Combination, Contingent Consideration, Liability, Measurement Input [Extensible Enumeration]	Measurement Input, Discount Rate			Measurement Input, Discount Rate
Measurement Input, Price Volatility | Valuation Technique, Option Pricing Model
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Business Combination, Contingent Consideration, Liability, Measurement Input [Extensible Enumeration]	Measurement Input, Price Volatility			Measurement Input, Price Volatility
Fair Value, Inputs, Level 1 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business Combination, Contingent Consideration, Liability	$ 0			$ 0
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, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business Combination, Contingent Consideration, Liability	0			0
Derivative Asset, Fair Value, Gross Asset	4.9			5.1
Derivative Liability, Fair Value, Gross Liability	5.2			11.9
Fair Value, Inputs, Level 3 [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Business Combination, Contingent Consideration, Liability	52			49.3
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
	Mar. 31, 2023	Mar. 31, 2022
Company contributions	$ 26.7	$ 4.1
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	(0.3)	(6.9)
Pension Costs [Member]
Actuarial gain (loss)	(4)	(5.9)
Pension Plan, Defined Benefit [Member]
Expected future employer contributions in 2017	70
Postretirement Benefit Costs [Member]
Actuarial gain (loss)	$ 3.3	$ 1.4

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
	Mar. 31, 2023	Mar. 31, 2022
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ (5.6)	$ 1.2
Pension Costs [Member]
Service cost	8.6	12
Interest cost	29.8	17.8
Expected return on plan assets	(29.9)	(26.3)
Net amortization of prior service costs	0.9	1
Net amortization of plan net actuarial losses	4	5.9
Net periodic pension benefit cost	13.4	10.4
Net curtailment loss	(1.1)	0
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	14.5	10.4
Pension Costs [Member] | Discontinued Operations [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	1.7	0.9
Operating Income (Loss) [Member] | Pension Costs [Member] | Continuing Operations [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	7.5	11
Other Nonoperating Income (Expense) [Member] | Pension Costs [Member] | Continuing Operations [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	$ 5.3	$ (1.5)

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
	Mar. 31, 2023	Mar. 31, 2022
Total	$ (5.6)	$ 1.2
Postretirement Benefit Costs [Member]
Service cost	0.4	0.5
Interest cost	3.3	1.7
Net amortization of prior service gains	0.2	0
Net amortization of plan net actuarial losses	(3.3)	(1.4)
Total	0.6	0.8
Postretirement Benefit Costs [Member] | Discontinued Operations [Member]
Total	(0.1)	0
Operating Income (Loss) [Member] | Postretirement Benefit Costs [Member] | Continuing Operations [Member]
Total	0.4	0.5
Other Nonoperating Income (Expense) [Member] | Postretirement Benefit Costs [Member] | Continuing Operations [Member]
Total	$ 0.3	$ 0.3

Equity (Reconciliation of Ordin

Equity (Reconciliation of Ordinary Shares) (Details) - USD ($) shares in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Stock Repurchased During Period, Value	$ 300,000,000
Ordinary shares
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (shares)	253.3	259.7
Shares issued under incentive plans, net	0.8
Repurchase of ordinary shares (shares)	(1.6)	(1.9)
Ending balance (shares)	252.5	258.3
Treasury Stock, Common
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance (shares)	24.5
Shares issued under incentive plans, net	0
Repurchase of ordinary shares (shares)	0
Ending balance (shares)	24.5

Equity (Changes in Accumulated

Equity (Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at December 31:	$ (766.2)	$ (637.6)
Other comprehensive income (loss)	67.4	(1.4)
Stockholders' Equity Note, Spinoff Transaction		(6.7)
Balance at June 30:	(699.3)	(639)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	61.4	(17.1)
Accumulated Translation Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at December 31:	(547.6)	(346.8)
Other comprehensive income (loss)	60.9	(17.1)
Balance at June 30:	(486.7)	(363.9)
Accumulated  other comprehensive income (loss)
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss)	66.9	(1.4)
Stockholders' Equity Note, Spinoff Transaction		0
Accumulated Net Gain (Loss) from Cash Flow Hedges Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at December 31:	(4.5)	7.1
Other comprehensive income (loss)	5.7	8.8
Balance at June 30:	1.2	15.9
Accumulated Defined Benefit Plans Adjustment [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance at December 31:	(214.1)	(297.9)
Other comprehensive income (loss)	0.3	6.9
Balance at June 30:	(213.8)	(291)
Noncontrolling Interests
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other comprehensive income (loss)	0.5	0
Stockholders' Equity Note, Spinoff Transaction		$ 0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	$ 0.5

Equity Equity (Narrative) (Deta

Equity Equity (Narrative) (Details)	3 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares	Mar. 31, 2022 USD ($)	Mar. 31, 2023 € / shares	Dec. 31, 2022 shares	Feb. 28, 2022 USD ($)	Feb. 28, 2021 USD ($)
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	$ 300,000,000
Capital Units, Authorized | shares	1,185,040,000
Stock Repurchased During Period, Value	$ 300,000,000
Repurchase of ordinary shares	(300,000,000)	$ (350,000,000)
2021 Authorization [Domain]
Stock Repurchase Program, Authorized Amount						$ 2,000,000,000
Stock Repurchase Program, Authorized Amount						$ 2,000,000,000
2022 Authorization [Domain]
Stock Repurchased During Period, Value	100,000,000
Stock Repurchase Program, Authorized Amount					$ 3,000,000,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	2,900,000,000
Stock Repurchase Program, Authorized Amount					$ 3,000,000,000
Stock Repurchased During Period, Value	100,000,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 2,900,000,000
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
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Net revenues	$ 3,665,800,000	$ 3,355,500,000
Americas [Member]
Disaggregation of Revenue [Line Items]
Net revenues	2,861,000,000	2,633,200,000
EMEA [Member]
Disaggregation of Revenue [Line Items]
Net revenues	510,500,000	441,300,000
Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Net revenues	294,300,000	281,000,000
Equipment | Americas [Member]
Disaggregation of Revenue [Line Items]
Net revenues	1,900,600,000	1,784,500,000
Equipment | EMEA [Member]
Disaggregation of Revenue [Line Items]
Net revenues	365,100,000	301,300,000
Equipment | Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Net revenues	201,700,000	202,100,000
Services | Americas [Member]
Disaggregation of Revenue [Line Items]
Net revenues	960,400,000	848,700,000
Services | EMEA [Member]
Disaggregation of Revenue [Line Items]
Net revenues	145,400,000	140,000,000
Services | Asia Pacific [Member]
Disaggregation of Revenue [Line Items]
Net revenues	92,600,000	78,900,000
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Net revenues	$ 0.81	$ 0.82

Revenue - Schedule of Assets an

Revenue - Schedule of Assets and Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Other Current Assets [Member]
Revenue from Contract with Customer [Abstract]
Contract assets - noncurrent	$ 216	$ 201.2
Disaggregation of Revenue [Line Items]
Contract assets - noncurrent	216	201.2
Other Noncurrent Assets
Revenue from Contract with Customer [Abstract]
Contract assets - noncurrent	238.9	239.6
Disaggregation of Revenue [Line Items]
Contract assets - noncurrent	238.9	239.6
Accrued Liabilities
Revenue from Contract with Customer [Abstract]
Contract liabilities - current	1,103.1	1,010.6
Disaggregation of Revenue [Line Items]
Contract liabilities - current	1,103.1	1,010.6
Other Noncurrent Liabilities
Revenue from Contract with Customer [Abstract]
Contract liabilities - current	478.6	471.4
Disaggregation of Revenue [Line Items]
Contract liabilities - current	$ 478.6	$ 471.4

Revenue - Contract liability ba

Revenue - Contract liability balances to be recognized (Details)	3 Months Ended
	Mar. 31, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Contract with Customer, Liability, Revenue Recognized	$ 0.25
Contract with Customer, Liability, Noncurrent	$ 0.30

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share based compensation expense	$ 25	$ 22
Share based compensation expense, net of tax	$ 18.9	16.7
Percentage Of Awards Applied To Performance Condition	50%
Percentage of Awards Applied to Market Condition	50%
Stock options and Restricted Stock Units (RSUs) [Member]
Vesting period, in years	3 years
Share-based Payment Arrangement, Option [Member]
Share based compensation expense	$ 9	$ 7.8
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	159,272	113,939
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures	388,150	428,387

Share-Based Compensation (Share

Share-Based Compensation (Share-Based Compensation Expense) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share based compensation expense	$ 25	$ 22
Tax benefit	(6.1)	(5.3)
After-tax expense	(18.9)	(16.7)
Stock Options [Member]
Share based compensation expense	9	7.8
Restricted Stock Units (RSUs) [Member]
Share based compensation expense	10.6	9
Phantom Share Units (PSUs) [Member]
Share based compensation expense	4.4	4.1
Deferred Compensation [Member]
Share based compensation expense	$ 1	$ 1.1

Share-Based Compensation (Grant

Share-Based Compensation (Grants of Stock Options and RSUs) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Stock Options [Member]
Equity awards, granted, in shares	388,150	428,387
Weighted average fair value per award, in dollars per share	$ 46.71	$ 35.98
RSUs [Member]
Equity awards, granted, in shares	159,272	113,939
Weighted average fair value per award, in dollars per share	$ 177.79	$ 169.83
Phantom Share Units (PSUs) [Member]
Equity awards, granted, in shares	203,186	188,754
Weighted average fair value per award, in dollars per share	$ 207.41	$ 170.60

Share-Based Compensation Share-

Share-Based Compensation Share-Based Compensation (Average Fair Value of Stock Options Granted, Assumptions) (Details)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Dividend yield	1.50%	1.60%
Volatility	29.35%	28.23%
Risk-free rate of return	3.60%	1.56%
Expected life, in years	4 years 9 months 18 days	4 years 9 months 18 days

Other, Net (Details)

Other, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended	9 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2020	Sep. 30, 2021
Deconsolidation, Gain (Loss), Amount			$ 24.9
Interest Income, Other	$ 4.4	$ 1.3
Foreign Currency Transaction Gain (Loss), before Tax	6.6	3.6
Defined Benefit Plan, Net Periodic Benefit Cost (Credit)	(5.6)	1.2
Other, net	(1.6)	0.4
Other income/(expense), net	$ (9.4)	$ (0.7)
Charge to increase Funding Liability				$ 21.2
Continuing Operations [Member]
Deconsolidation, Gain (Loss), Amount			$ 0.9
Charge to increase Funding Liability				$ 7.2

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Unrecognized Tax Benefits	$ 82.4		$ 82.4
Effective Income Tax Rate Reconciliation, Percent	18.80%	18.40%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		21%
Effective Income Tax Rate Reconciliation, Percent [Abstract]
Effective Income Tax Rate Reconciliation, Percent	18.80%	18.40%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent		21%
Income Taxes	Income Taxes The Company accounts for its Provision for income taxes by applying an estimate of the annual effective income tax rate for the full year to the respective interim period, taking into account year-to-date amounts and projected results for the full year. For the three months ended March 31, 2023 and March 31, 2022, the Company’s effective income tax rate was 18.8% and 18.4%, respectively. The effective tax rate for the three months ended March 31, 2023 and March 31, 2022 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. Total unrecognized tax benefits for both March 31, 2023 and December 31, 2022 were $82.4 million. 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

Business Combinations and Asset

Business Combinations and Asset Acquisitions (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Business Combination and Asset Acquisition [Abstract]
Goodwill	$ 5,522.6	$ 5,503.7
Acquired Indefinite-lived Intangible Assets [Line Items]
Goodwill	$ 5,522.6	$ 5,503.7

Earnings Per Share (EPS) (Detai

Earnings Per Share (EPS) (Details) - $ / shares shares in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Weighted-average number of basic shares	229.3	234.6
Shares issuable under incentive stock plans	2.2	2.5
Weighted average number of diluted shares	231.5	237.1
Anti-dilutive shares	0.8	0.9
Dividends declared per ordinary share	$ 0.75	$ 0.67

Business Segment Information (S

Business Segment Information (Summary of Operations by Reportable Segments) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Jun. 30, 2022
Net revenues	$ 3,665,800,000	$ 3,355,500,000
Segment Adjusted EBITDA	607,400,000	508,200,000
Interest Expense	(57,600,000)	(56,000,000)
Depreciation and amortization	(79,800,000)	(77,300,000)
Restructuring and Related Cost, Incurred Cost	(6,300,000)	(1,300,000)
Business Combination, Contingent Consideration Arrangements, Change in Amount of Contingent Consideration, Liability	(2,700,000)	6,500,000	$ 46,900,000
Acquisition inventory step-up	(2,200,000)	0
Unallocated corporate expense	(69,000,000)	(48,600,000)
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	389,800,000	331,500,000
Americas [Member]
Net revenues	2,861,000,000	2,633,200,000
Segment Adjusted EBITDA	455,800,000	405,600,000
EMEA [Member]
Net revenues	510,500,000	441,300,000
Segment Adjusted EBITDA	94,400,000	59,100,000
Asia Pacific [Member]
Net revenues	294,300,000	281,000,000
Segment Adjusted EBITDA	$ 57,200,000	$ 43,500,000

Commitments and Contingencies_2

Commitments and Contingencies (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	9 Months Ended
	Mar. 31, 2022	Jun. 30, 2020	Sep. 30, 2021	Mar. 31, 2023	Dec. 31, 2022	Sep. 24, 2021	Aug. 26, 2021	Jun. 17, 2020
Deconsolidation, Gain (Loss), Amount		$ 24.9
Cash Divested from Deconsolidation		10.8
Reserves for environmental matters				$ 43.1	$ 42.4
Total current standard product warranty reserve				122.6	120.4
Total current extended warranty liability				114.9	110.5
Charge to increase Funding Liability			$ 21.2
Qualified Settlement Fund						$ 270
Bankruptcy Claims, Amount Paid to Settle Claims							$ 545
QSF Funding	$ 270
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		25.8
Reserves for environmental matters				$ 37	$ 36.5
Charge to increase Funding Liability			14
QSF Funding	178.2
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
QSF Funding	$ 91.8
Asbestos [Member]
Liability from Deconsolidation			$ 270					$ 248.8

Commitments and Contingencies_3

Commitments and Contingencies (Product Warranty Liability) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Balance at beginning of period	$ 323.6
Reductions for payments	(33)
Accruals for warranties issued during the current period	34.5
Changes to accruals related to preexisting warranties	(1.3)
Translation	0.9
Balance at end of period	$ 324.7

Commitments and Contingencies C

Commitments and Contingencies Commitments and Contingencies (Extended Warranty Accrual) (Details) - Extended Warranty [Member] $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($)
Balance at beginning of period	$ 317.7
Amortization of deferred revenue for the period	(26.1)
Additions for extended warranties issued during the period	31.9
Changes to accruals related to preexisting warranties	(0.4)
Translation	0.5
Balance at end of period	$ 323.6