Ingersoll Rand (IR) 10-Q 4 Aug 23 2023 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2023	Jul. 28, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-38095
Entity Registrant Name	Ingersoll Rand Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-2393770
Entity Address, Address Line One	525 Harbour Place Drive, Suite 600
Entity Address, City or Town	Davidson
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28036
City Area Code	704
Local Phone Number	655-4000
Title of 12(b) Security	Common Stock, $0.01 Par Value per share
Trading Symbol	IR
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		404,399,463
Entity Central Index Key	0001699150
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenues	$ 1,686.5	$ 1,439.9	$ 3,315.8	$ 2,776.9
Cost of sales	989	870.1	1,954.1	1,681
Gross Profit	697.5	569.8	1,361.7	1,095.9
Selling and administrative expenses	315.6	275.6	626.7	541.1
Amortization of intangible assets	89.7	83.6	182.1	169.8
Other operating expense, net	19.8	13.2	40.2	30.6
Operating Income	272.4	197.4	512.7	354.4
Interest expense	40.8	23.2	79.7	42.2
Loss on extinguishment of debt	0.9	1.1	0.9	1.1
Other income, net	(8.2)	(7.4)	(17.8)	(12)
Income from Continuing Operations Before Income Taxes	238.9	180.5	449.9	323.1
Provision for income taxes	60.5	41.9	108.6	74.3
Income (loss) on equity method investments	2.4	(0.8)	2.7	(5.1)
Income from Continuing Operations	180.8	137.8	344	243.7
Income from discontinued operations, net of tax	0	1.5	0	0.1
Net Income	180.8	139.3	344	243.8
Less: Net income attributable to noncontrolling interests	1.3	0.8	3.4	1.6
Net Income Attributable to Ingersoll Rand Inc.	179.5	138.5	340.6	242.2
Amounts attributable to Ingersoll Rand Inc. common stockholders:
Income from continuing operations, net of tax	179.5	137	340.6	242.1
Income from discontinued operations, net of tax	0	1.5	0	0.1
Net Income Attributable to Ingersoll Rand Inc.	$ 179.5	$ 138.5	$ 340.6	$ 242.2
Basic earnings per share of common stock:
Earnings from continuing operations (in usd per share)	$ 0.44	$ 0.34	$ 0.84	$ 0.60
Earnings from discontinued operations (in usd per share)	0	0	0	0
Net earnings (in usd per share)	0.44	0.34	0.84	0.60
Diluted earnings per share of common stock:
Earnings from continuing operations (in usd per share)	0.44	0.33	0.83	0.59
Earnings from discontinued operations (in usd per share)	0	0	0	0
Net earnings (in usd per share)	$ 0.44	$ 0.34	$ 0.83	$ 0.59

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Comprehensive Income (Loss) Attributable to Ingersoll Rand Inc.
Net income attributable to Ingersoll Rand Inc.	$ 179.5	$ 138.5	$ 340.6	$ 242.2
Other comprehensive loss, net of tax:
Foreign currency translation adjustments, net	(46.6)	(212.1)	(15.8)	(240.9)
Unrecognized gain (loss) on cash flow hedges	10.9	(5.4)	5.6	(5.4)
Pension and other postretirement prior service cost and gain (loss), net	(1.1)	(2)	(1.3)	(3.1)
Total other comprehensive loss, net of tax	(36.8)	(219.5)	(11.5)	(249.4)
Comprehensive income (loss) attributable to Ingersoll Rand Inc.	142.7	(81)	329.1	(7.2)
Comprehensive Income (Loss) Attributable to Noncontrolling Interests
Net income attributable to noncontrolling interests	1.3	0.8	3.4	1.6
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net	(0.1)	(4.8)	0.8	(4.2)
Total other comprehensive income (loss), net of tax	(0.1)	(4.8)	0.8	(4.2)
Comprehensive income (loss) attributable to noncontrolling interests	1.2	(4)	4.2	(2.6)
Total Comprehensive Income (Loss)	$ 143.9	$ (85)	$ 333.3	$ (9.8)

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 1,178.1	$ 1,613
Accounts receivable, net of allowance for credit losses of $51.2 and $47.2, respectively	1,219.8	1,122
Inventories	1,101.3	1,025.4
Other current assets	227.8	206.9
Total current assets	3,727	3,967.3
Property, plant and equipment, net of accumulated depreciation of $464.7 and $417.4, respectively	645.7	624.4
Goodwill	6,427.2	6,064.2
Other intangible assets, net	3,659.8	3,578.6
Deferred tax assets	23.5	22.3
Other assets	545.4	509.1
Total assets	15,028.6	14,765.9
Current liabilities:
Short-term borrowings and current maturities of long-term debt	31.3	36.5
Accounts payable	669.2	778.7
Accrued liabilities	923.6	858.8
Total current liabilities	1,624.1	1,674
Long-term debt, less current maturities	2,698.5	2,716.1
Pensions and other postretirement benefits	146.5	147.2
Deferred income taxes	663.5	610.6
Other liabilities	415.6	360.8
Total liabilities	5,548.2	5,508.7
Commitments and contingencies (Note 18)	0	0
Stockholders’ equity
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 427,778,062 and 426,327,805 shares issued as of June 30, 2023 and December 31, 2022, respectively	4.3	4.3
Capital in excess of par value	9,510.3	9,476.8
Retained earnings	1,275.3	950.9
Accumulated other comprehensive loss	(263.2)	(251.7)
Treasury stock at cost; 23,410,937 and 21,210,095 shares as of June 30, 2023 and December 31, 2022, respectively	(1,111.9)	(984.5)
Total Ingersoll Rand Inc. stockholders’ equity	9,414.8	9,195.8
Noncontrolling interests	65.6	61.4
Total stockholders’ equity	9,480.4	9,257.2
Total liabilities and stockholders’ equity	$ 15,028.6	$ 14,765.9

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 51.2	$ 47.2
Accumulated depreciation on property, plant and equipment	$ 464.7	$ 417.4
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock authorized (in shares)	1,000,000,000	1,000,000,000
Common stock issued (in shares)	427,778,062	426,327,805
Treasury stock (in shares)	23,410,937	21,210,095

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Total Ingersoll Rand Inc. Stockholders’ Equity	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Noncontrolling Interests
Balance at beginning of period (in shares) at Dec. 31, 2021			423.8
Balance at beginning of period at Dec. 31, 2021	$ 9,071.2	$ 9,001.5	$ 4.3	$ 9,408.6	$ 378.6	$ (41.6)	$ (748.4)	$ 69.7
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	243.8	242.2			242.2			1.6
Dividends declared	(16.2)	(16.2)			(16.2)
Issuance of common stock for stock-based compensation plans (in shares)			0.8
Issuance of common stock for stock-based compensation plans	7.9	7.9		7.9
Purchases of treasury stock	(253.7)	(253.7)					(253.7)
Issuance of treasury stock for stock-based compensation plans	1	1		(3.2)			4.2
Stock-based compensation	43.6	43.6		43.6
Other comprehensive income (loss), net of tax	(253.6)	(249.4)				(249.4)		(4.2)
Balance at end of period (in shares) at Jun. 30, 2022			424.6
Balance at end of period at Jun. 30, 2022	8,844	8,776.9	$ 4.3	9,456.9	604.6	(291)	(997.9)	67.1
Balance at beginning of period (in shares) at Mar. 31, 2022			424.5
Balance at beginning of period at Mar. 31, 2022	9,063.3	8,992.2	$ 4.3	9,432.1	474.1	(71.5)	(846.8)	71.1
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	139.3	138.5			138.5			0.8
Dividends declared	(8)	(8)			(8)
Issuance of common stock for stock-based compensation plans (in shares)			0.1
Issuance of common stock for stock-based compensation plans	3.4	3.4		3.4
Purchases of treasury stock	(152.6)	(152.6)					(152.6)
Issuance of treasury stock for stock-based compensation plans	0.3	0.3		(1.2)			1.5
Stock-based compensation	22.6	22.6		22.6
Other comprehensive income (loss), net of tax	(224.3)	(219.5)				(219.5)		(4.8)
Balance at end of period (in shares) at Jun. 30, 2022			424.6
Balance at end of period at Jun. 30, 2022	8,844	8,776.9	$ 4.3	9,456.9	604.6	(291)	(997.9)	67.1
Balance at beginning of period (in shares) at Dec. 31, 2022			426.3
Balance at beginning of period at Dec. 31, 2022	9,257.2	9,195.8	$ 4.3	9,476.8	950.9	(251.7)	(984.5)	61.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	344	340.6			340.6			3.4
Dividends declared	(16.2)	(16.2)			(16.2)
Issuance of common stock for stock-based compensation plans (in shares)			1.5
Issuance of common stock for stock-based compensation plans	13.7	13.7		13.7
Purchases of treasury stock	(133.2)	(133.2)					(133.2)
Issuance of treasury stock for stock-based compensation plans	2.2	2.2		(3.6)			5.8
Stock-based compensation	23.4	23.4		23.4
Other comprehensive income (loss), net of tax	(10.7)	(11.5)				(11.5)		0.8
Balance at end of period (in shares) at Jun. 30, 2023			427.8
Balance at end of period at Jun. 30, 2023	9,480.4	9,414.8	$ 4.3	9,510.3	1,275.3	(263.2)	(1,111.9)	65.6
Balance at beginning of period (in shares) at Mar. 31, 2023			427.5
Balance at beginning of period at Mar. 31, 2023	9,381.7	9,317.3	$ 4.3	9,493.6	1,103.9	(226.4)	(1,058.1)	64.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	180.8	179.5			179.5			1.3
Dividends declared	(8.1)	(8.1)			(8.1)
Issuance of common stock for stock-based compensation plans (in shares)			0.3
Issuance of common stock for stock-based compensation plans	5	5		5
Purchases of treasury stock	(56.2)	(56.2)					(56.2)
Issuance of treasury stock for stock-based compensation plans	2.1	2.1		(0.3)			2.4
Stock-based compensation	12	12		12
Other comprehensive income (loss), net of tax	(36.9)	(36.8)				(36.8)		(0.1)
Balance at end of period (in shares) at Jun. 30, 2023			427.8
Balance at end of period at Jun. 30, 2023	$ 9,480.4	$ 9,414.8	$ 4.3	$ 9,510.3	$ 1,275.3	$ (263.2)	$ (1,111.9)	$ 65.6

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash Flows From Operating Activities From Continuing Operations:
Net income	$ 344	$ 243.8
Income from discontinued operations, net of tax	0	0.1
Income from continuing operations	344	243.7
Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations:
Amortization of intangible assets	182.1	169.8
Depreciation	43.7	43.2
Non-cash restructuring charges	1.9	4.8
Stock-based compensation expense	24	42.2
Loss (income) on equity method investments	(2.7)	5.1
Foreign currency transaction gains, net	(0.1)	(5.6)
Non-cash adjustments to carrying value of LIFO inventories	14.3	0
Other non-cash adjustments	6.1	1.3
Changes in assets and liabilities:
Receivables	(62.7)	(108.2)
Inventories	(29.6)	(191.2)
Accounts payable	(126.8)	55
Accrued liabilities	53.1	3.1
Other assets and liabilities, net	(48.6)	(27)
Net cash provided by operating activities from continuing operations	398.7	236.2
Cash Flows From Investing Activities From Continuing Operations:
Capital expenditures	(47.2)	(39.3)
Net cash paid in acquisitions	(615.8)	(30.3)
Disposals of property, plant and equipment	7.3	0
Other investing	0.3	4.1
Net cash used in investing activities from continuing operations	(655.4)	(65.5)
Cash Flows From Financing Activities From Continuing Operations:
Principal payments on long-term debt	(20.6)	(639.5)
Purchases of treasury stock	(132.8)	(253.7)
Cash dividends on common shares	(16.2)	(16.2)
Proceeds from stock option exercises	15.6	8.4
Payments of interest rate cap premiums	0	(9.7)
Payments of deferred and contingent acquisition consideration	(5.3)	(3.6)
Payments of debt issuance costs	(5.3)	0
Other financing	(1.1)	(0.5)
Net cash used in financing activities from continuing operations	(165.7)	(914.8)
Cash Flows From Discontinued Operations:
Net cash used in operating activities	0	(5.1)
Net cash used in discontinued operations	0	(5.1)
Effect of exchange rate changes on cash and cash equivalents	(12.5)	(51.2)
Net decrease in cash and cash equivalents	(434.9)	(800.4)
Cash and cash equivalents, beginning of period	1,613	2,109.6
Cash and cash equivalents, end of period	1,178.1	1,309.2
Supplemental Cash Flow Information
Cash paid for income taxes	100.3	70.9
Cash paid for interest	$ 73.5	$ 38.7

Basis of Presentation and Recen

Basis of Presentation and Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Recent Accounting Pronouncements	Basis of Presentation and Recent Accounting Pronouncements Basis of Presentation Ingersoll Rand Inc. is a diversified, global provider of mission-critical flow creation products and industrial solutions. The accompanying condensed consolidated financial statements include the accounts of Ingersoll Rand Inc. and its majority-owned subsidiaries (collectively referred to herein as “Ingersoll Rand” or the “Company”). The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial reporting, the instructions for Form 10-Q and Article 10 of the U.S. Securities and Exchange Commission (“SEC”) Regulation S-X. In the Company’s opinion, the condensed consolidated financial statements reflect all adjustments of a normal recurring nature necessary for a fair statement of the results for the interim periods presented. The condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 (“2022 Form 10-K”). Unless otherwise indicated, amounts provided in these Notes pertain to continuing operations. See Note 2 “ Discontinued Operations ” for information on discontinued operations. The results of operations for the three month period ended June 30, 2023 are not necessarily indicative of future results. Recently Adopted Accounting Standard Updates (“ASU”) In October 2021, the Financial Accounting Standards Board (the “FASB”) issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires an entity to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. The amendments in this update were effective for fiscal years beginning after December 15, 2022 for public companies. The Company adopted this guidance on January 1, 2023 and applies the guidance prospectively to business combinations completed after this date. The adoption did not have a material impact on our condensed consolidated financial statements. Supply Chain Finance Program The Company has adopted ASU 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations, which requires the following disclosures about supplier finance programs. This adoption had no impact on the Company’s financial position, results of operations or cash flows. The Company has entered into an agreement with a financial institution to facilitate a supply chain finance program (the “SCF Program”). Under the SCF Program, qualifying suppliers may elect to sell their receivables from the Company to the financial institution. Participating suppliers negotiate arrangements for sale of their receivables directly with the financial institution, and the terms of the Company’s payment obligations are not impacted by a supplier’s participation in the SCF Program. Once a qualifying supplier elects to participate in the SCF Program and reaches an agreement with the financial institution, the supplier elects which individual Company invoices they sell to the financial institution. However, all of the Company’s payments to participating suppliers are paid to the financial institution on the invoice due date, regardless of whether the individual invoice is sold by the supplier to the financial institution. The Company has not pledged any assets as security or provided other forms of guarantees. All outstanding amounts related to suppliers participating in the SCF Program are recorded within “Accounts payable” in our Condensed Consolidated Balance Sheets, and the associated payments are included in “Net cash provided by operating activities from continuing operations” within our Condensed Consolidated Statements of Cash Flows. Included in “Accounts payable” in the Condensed Consolidated Balance Sheets as of June 30, 2023 and December 31, 2022 were $22.8 million and $9.7 million of outstanding payment obligations, respectively, that were sold to the financial institution by participating suppliers.

Discontinued Operations

Discontinued Operations	6 Months Ended
	Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued OperationsDiscontinued operations consists of two formerly-owned businesses: Specialty Vehicle Technologies (“SVT” or “Club Car”) and High Pressure Solutions (“HPS”). The results of operations, financial positions and cash flows of these businesses are reported as discontinued operations for all periods presented in these condensed consolidated financial statements. Specialty Vehicle Technologies On April 9, 2021, the Company entered into an agreement to sell Club Car to private equity firm Platinum Equity Advisors, LLC (“Platinum Equity”) for $1.68 billion in cash. The sale was substantially completed on June 1, 2021 and concluded in the third quarter of 2022. High Pressure Solutions On February 14, 2021, the Company entered into an agreement to sell the majority interest in its High Pressure Solutions business to private equity firm American Industrial Partners. The Company received net cash proceeds of $278.3 million for its majority interest of 55%, and retained a 45% common equity interest in the newly-formed entity comprising the HPS business. This sale was substantially completed on April 1, 2021 and concluded in the fourth quarter of 2021. The Company expects to maintain its minority investment in HPS indefinitely and is unable to estimate when this interest may be disposed. Financial information of discontinued operations Income from discontinued operations, net of tax was $1.5 million and $0.1 million for the three and six month periods ended June 30, 2022, respectively, and consisted primarily of expenses incurred to finalize separation and fulfill transition services.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions Acquisitions in 2023 On January 3, 2023, the Company completed the acquisition of SPX FLOW’s Air Treatment business (“Air Treatment”) for cash consideration of $519.0 million. The business is a manufacturer of desiccant and refrigerated dryers, filtration systems and purifiers for dehydration in compressed air. The acquisition is intended to expand the Company’s offerings of compressor system components through globally recognized brands. The Air Treatment business has been reported within the Industrial Technologies and Services segment. The goodwill arising from the acquisition is attributable to revenue and cost synergies, anticipated growth of new and existing customers, and the assembled workforce. Substantially all of this goodwill is not expected to be deductible for tax purposes. On February 1, 2023, the Company acquired Paragon Tank Truck Equipment (“Paragon”), a provider of solutions used for loading and unloading dry bulk and liquid tanks on and off of trucks, for cash consideration of $42.2 million. Paragon has been reported within the Industrial Technologies and Services segment. On April 1, 2023, the Company acquired EcoPlant Technological Innovation Ltd. (“EcoPlant”), for initial cash consideration of $29.7 million and contingent consideration of up to $17.0 million. EcoPlant is a provider of a software-as-a-service platform that dynamically controls compressed air systems to optimize performance and resource consumption. EcoPlant has been reported within the Industrial Technologies and Services segment. Other acquisitions completed during the six months ended June 30, 2023 include several sales and service businesses, substantially all of which have been reported within the Industrial Technologies and Services segment. The aggregate consideration for these acquisitions was $21.2 million. The following table summarizes the allocation of consideration for all businesses acquired in 2023 to the fair values of identifiable assets acquired and liabilities assumed at the acquisition dates. Initial accounting for these acquisitions is substantially complete, mainly pending the measurement of certain income tax-related assets and liabilities. Any further adjustments during the measurement period are not expected to be material. Air Treatment All Others Total Accounts receivable $ 26.1 $ 5.9 $ 32.0 Inventories 43.9 12.5 56.4 Other current assets 2.2 0.5 2.7 Property, plant and equipment 18.4 2.7 21.1 Goodwill 276.7 75.2 351.9 Other intangible assets 238.6 18.4 257.0 Other assets 24.1 — 24.1 Total current liabilities (35.6) (6.5) (42.1) Deferred tax liabilities (68.5) — (68.5) Other noncurrent liabilities (6.9) (2.8) (9.7) Total consideration $ 519.0 $ 105.9 $ 624.9 The aggregate revenue and operating income included in the condensed consolidated financial statements for these acquisitions subsequent to the dates of acquisition was $60.6 million and $3.7 million for the three month period ended June 30, 2023, respectively, and $109.0 million and $6.9 million for the six month period then ended, respectively. The operating income of these acquired businesses includes the effects of acquisition-related accounting adjustments such as amortization of intangible assets and fair value adjustments to acquired inventory. Acquisitions in 2022 On February 1, 2022, the Company acquired Houdstermaatschappij Jorc B.V. (“Jorc”), a manufacturer of condensate management products, for aggregate cash consideration of $30.2 million. Jorc has been reported in the Industrial Technologies and Services segment from the date of acquisition. On September 1, 2022, the Company acquired Westwood Technical Limited (“Westwood Technical”), a control and instrumentation specialist based in the United Kingdom with unique Industrial Internet of Things (IIoT) capabilities, for aggregate cash consideration of $8.1 million and contingent consideration of up to $9.3 million. Westwood Technical has been reported in the Precision and Science Technologies segment from the date of acquisition. On September 1, 2022, the Company acquired Holtec Gas Systems LLC (“Holtec”), a nitrogen generator manufacturer, for cash consideration of $13.0 million. Holtec has been reported in the Industrial Technologies and Services segment from the date of acquisition. On September 1, 2022, the Company acquired Hydro Prokav Pumps (India) Private Limited (“Hydro Prokav”) for cash consideration of $14.0 million. Hydro Prokav has been reported in the Precision and Science Technologies segment from the date of acquisition. On October 1, 2022, the Company acquired Dosatron International L.L.C (“Dosatron International”), a technology solutions provider of water powered dosing pumps and systems, for cash consideration of $89.5 million and contingent consideration of up to $14.7 million. Dosatron International has been reported in the Precision and Science Technologies segment from the date of acquisition. On November 1, 2022, the Company acquired Pedro Gil Construcciones Mecanicas, S.L. (“Pedro Gil”), a manufacturer of positive displacement blowers, pumps and vacuum systems in the Spanish market, for aggregate cash consideration of $18.4 million. Pedro Gil has been reported in the Industrial Technologies and Services segment from the date of acquisition. On December 1, 2022, the Company acquired Everest Blowers Private Limited and Everest Blower Systems Private Limited (collectively, “Everest Group”), an Indian market leader for customized blower and vacuum pump solutions, for $75.3 million aggregate cash consideration and contingent consideration initially estimated to be $12.1 million. Everest Group has been reported in the Industrial Technologies and Services segment from the date of acquisition. Other acquisitions completed during the year ended December 31, 2022 include multiple sales and service businesses and a manufacturer in the Industrial Technologies and Services segment. The aggregate consideration for these acquisitions was $19.9 million. The following table summarizes the allocation of consideration for all businesses acquired in 2022 to the fair values of identifiable assets acquired and liabilities assumed at the acquisition dates. Initial accounting for all 2022 acquisitions is substantially complete. Dosatron International All Others Total Accounts receivable $ 1.8 $ 16.2 $ 18.0 Inventories 6.2 20.4 26.6 Other current assets 0.1 1.3 1.4 Property, plant and equipment 0.3 8.9 9.2 Goodwill 57.4 151.9 209.3 Other intangible assets 41.9 43.0 84.9 Other assets 13.8 0.9 14.7 Total current liabilities (3.5) (30.7) (34.2) Deferred tax liabilities (13.8) (9.7) (23.5) Other noncurrent liabilities — (1.9) (1.9) Total consideration $ 104.2 $ 200.3 $ 304.5 The revenues included in the condensed consolidated financial statements for these acquisitions subsequent to their date of acquisition was $30.7 million and $5.1 million for the three month periods ended June 30, 2023 and 2022, respectively, and $64.1 million and $9.1 million for the six month periods then ended, respectively. The operating income included in the condensed consolidated financial statements for these acquisitions subsequent to their date of acquisition was $3.8 million and $1.3 million for the three month periods ended June 30, 2023 and 2022, respectively, and $9.2 million and $2.0 million for the six month periods then ended, respectively. The operating income of these acquired businesses include the effects of acquisition-related accounting adjustments such as amortization of intangible assets and fair value adjustments to acquired inventory.

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring 2023 Actions In 2023, the Company executed restructuring actions to optimize our cost structure. Charges include workforce restructuring, facility consolidation and other exit and disposal costs. We continue to review our cost structure in the context of footprint, recent acquisitions, and the macroeconomic environment which may result in further restructuring actions throughout the year. For the six month period ended June 30, 2023, we have recognized expense of $1.9 million within Industrial Technologies and Services and $1.4 million within Precision and Science Technologies related to the 2023 actions. Prior Year Actions Subsequent to the acquisition of and merger with the Industrial business of Ingersoll-Rand plc (“Ingersoll Rand Industrial”) in 2020 (the “Merger”), the Company announced a restructuring program (“2020 Plan”) to create efficiencies and synergies, reduce the number of facilities and optimize operating margin within the merged Company. Through June 30, 2023, we have recognized cumulative expense related to the 2020 Plan of $130.5 million, comprising $103.8 million, $15.2 million and $11.5 million for Industrial Technologies and Services, Precision and Science Technologies and Corporate, respectively. The Company expects to complete all actions by the end of 2023, and does not expect remaining expense under the 2020 Plan to be material. For the three and six month periods ended June 30, 2023 and 2022, “Restructuring charges, net” were recognized within “Other operating expense, net” in the Condensed Consolidated Statement of Operations and consisted of the following. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Industrial Technologies and Services $ 3.8 $ 8.7 $ 6.9 $ 12.3 Precision and Science Technologies 1.4 0.5 1.0 8.1 Corporate — (0.3) 0.2 1.0 Restructuring charges, net $ 5.2 $ 8.9 $ 8.1 $ 21.4 The following table summarizes the activity associated with the Company’s restructuring programs for the three and six month periods ended June 30, 2023 and 2022. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Balance at beginning of period $ 13.4 $ 16.9 $ 14.9 $ 12.3 Charged to expense - termination benefits 2.4 4.2 3.3 12.5 Charged to expense - other (1) 1.8 2.1 2.9 4.1 Payments (7.2) (3.3) (10.8) (8.2) Currency translation adjustment and other 0.1 (1.9) 0.2 (2.7) Balance at end of period $ 10.5 $ 18.0 $ 10.5 $ 18.0 (1) Excludes $1.0 million and $2.6 million of non-cash charges that impacted restructuring expense but not the restructuring liabilities during the three month periods ended June 30, 2023 and 2022, respectively, and $1.9 million and $4.8 million for the six month periods then ended, respectively.

Allowance for Credit Losses

Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Allowance for Credit Losses	Allowance for Credit Losses The allowance for credit losses for the three and six month periods ended June 30, 2023 and 2022 consisted of the following. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Balance at beginning of the period $ 51.0 $ 43.7 $ 47.2 $ 42.3 Provision charged to expense 2.2 4.7 6.2 6.7 Write-offs, net of recoveries (1.3) (1.0) (1.7) (1.5) Foreign currency translation and other (0.7) (2.2) (0.5) (2.3) Balance at end of the period $ 51.2 $ 45.2 $ 51.2 $ 45.2

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories as of June 30, 2023 and December 31, 2022 consisted of the following. June 30, 2023 December 31, 2022 Raw materials, including parts and subassemblies $ 674.1 $ 625.0 Work-in-process 147.3 122.2 Finished goods 354.7 338.7 1,176.1 1,085.9 LIFO reserve (74.8) (60.5) Inventories $ 1,101.3 $ 1,025.4

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill The changes in the carrying amount of goodwill attributable to each reportable segment for the six month period ended June 30, 2023 is presented in the table below. Industrial Technologies and Services Precision and Science Technologies Total Balance at beginning of period $ 4,222.5 $ 1,841.7 $ 6,064.2 Acquisitions 349.5 2.4 351.9 Foreign currency translation and other (1) 7.7 3.4 11.1 Balance at end of period $ 4,579.7 $ 1,847.5 $ 6,427.2 (1) Includes measurement period adjustments As of both June 30, 2023 and December 31, 2022, goodwill included accumulated impairment losses of $220.6 million within the Industrial Technologies and Services segment. Other Intangible Assets, Net Other intangible assets as of June 30, 2023 and December 31, 2022 consisted of the following. June 30, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets Customer lists and relationships $ 3,191.6 $ (1,430.7) $ 1,760.9 $ 3,029.0 $ (1,286.1) $ 1,742.9 Technology 393.3 (150.8) 242.5 360.0 (124.5) 235.5 Tradenames 51.8 (25.4) 26.4 46.2 (22.7) 23.5 Backlog 8.0 (4.8) 3.2 1.0 (0.3) 0.7 Other 115.3 (99.6) 15.7 113.7 (93.2) 20.5 Unamortized intangible assets Tradenames 1,611.1 — 1,611.1 1,555.5 — 1,555.5 Total other intangible assets $ 5,371.1 $ (1,711.3) $ 3,659.8 $ 5,105.4 $ (1,526.8) $ 3,578.6 Intangible Asset Impairment Considerations As of June 30, 2023 and December 31, 2022, there were no indications that the carrying value of goodwill and other intangible assets may not be recoverable.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities as of June 30, 2023 and December 31, 2022 consisted of the following. June 30, 2023 December 31, 2022 Salaries, wages and related fringe benefits $ 200.6 $ 223.3 Contract liabilities 339.2 305.6 Product warranty 57.4 46.2 Operating lease liabilities 39.8 39.6 Restructuring 10.5 14.9 Taxes 88.0 63.3 Other 188.1 165.9 Total accrued liabilities $ 923.6 $ 858.8 A reconciliation of the changes in the accrued product warranty liability for the three and six month periods ended June 30, 2023 and 2022 are as follows. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Balance at beginning of period $ 54.1 $ 42.5 $ 46.2 $ 42.5 Product warranty accruals 15.8 5.2 24.7 9.4 Acquired warranty — — 1.4 — Settlements (11.0) (3.5) (14.9) (7.3) Foreign currency translation and other (1.5) (1.1) — (1.5) Balance at end of period $ 57.4 $ 43.1 $ 57.4 $ 43.1

Benefit Plans

Benefit Plans	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Benefit Plans	Benefit Plans Net Periodic Benefit Cost The following table summarizes the components of net periodic benefit cost for the Company’s defined benefit pension plans and other postretirement benefit plans recognized for the three and six month periods ended June 30, 2023 and 2022. Pension Benefits Other Postretirement Benefits U.S. Plans Non-U.S. Plans For the Three Month Period Ended June 30, 2023 2022 2023 2022 2023 2022 Service cost $ — $ 1.0 $ 0.6 $ 0.8 $ — $ — Interest cost 3.9 2.9 2.8 1.5 0.3 0.1 Expected return on plan assets (3.4) (3.3) (2.7) (3.0) — — Recognition of: Unrecognized prior service cost — — 0.1 0.1 — — Unrecognized net actuarial loss 0.1 — (0.5) — (0.2) — 0.6 0.6 0.3 (0.6) 0.1 0.1 Gain on settlement (0.6) — — — — — $ — $ 0.6 $ 0.3 $ (0.6) $ 0.1 $ 0.1 Pension Benefits Other Postretirement Benefits U.S. Plans Non-U.S. Plans For the Six Month Period Ended June 30, 2023 2022 2023 2022 2023 2022 Service cost $ — $ 2.1 $ 1.2 $ 1.7 $ — $ — Interest cost 7.9 5.7 5.5 3.1 0.5 0.3 Expected return on plan assets (6.7) (6.5) (5.4) (6.2) — — Recognition of: Unrecognized prior service cost — — 0.1 0.1 — — Unrecognized net actuarial loss 0.1 — (0.9) 0.1 (0.3) — 1.3 1.3 0.5 (1.2) 0.2 0.3 Gain on settlement (0.6) (0.9) — — — — $ 0.7 $ 0.4 $ 0.5 $ (1.2) $ 0.2 $ 0.3

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt Debt as of June 30, 2023 and December 31, 2022 is summarized as follows. June 30, 2023 December 31, 2022 Short-term borrowings $ 1.4 $ 4.5 Long-term debt: Dollar Term Loan B, due 2027 (1) 1,837.0 1,846.3 Dollar Term Loan, due 2027 (2) 896.8 901.4 Finance leases and other long-term debt 17.8 22.2 Unamortized debt issuance costs (23.2) (21.8) Total long-term debt, net, including current maturities 2,728.4 2,748.1 Current maturities of long-term debt 29.9 32.0 Total long-term debt, net $ 2,698.5 $ 2,716.1 (1) As of June 30, 2023, this amount is presented net of unamortized discounts of $1.3 million. As of June 30, 2023, the applicable interest rate was approximately 7.00% and the weighted-average interest rate was 6.59% for the six month period ended June 30, 2023. (2) As of June 30, 2023, this amount is presented net of unamortized discounts of $0.6 million. As of June 30, 2023, the applicable interest rate was approximately 7.00% and the weighted average interest rate was 6.59% for the six month period ended June 30, 2023. Senior Secured Credit Facilities The Senior Secured Credit Facilities provided senior secured financing consisting of (i) a senior secured term loan facility denominated in U.S. dollars (as refinanced and otherwise modified from time to time prior to February 28, 2020, the “Original Dollar Term Loan”), (ii) a senior secured term loan facility denominated in U.S. dollars (entered into at the time of the Merger, the “Dollar Term Loan B”), and (iii) a senior secured revolving credit facility (as refinanced and otherwise modified from time to time the “Revolving Credit Facility”). The Revolving Credit Facility is available to be drawn in U.S. dollars (“USD”), Euros (“EUR”), Great British Pounds (“GBP”) and other reasonably accepted foreign currencies, subject to certain sublimits for the foreign currencies. On April 21 2023, the Company entered into Amendment No. 9 to the Credit Agreement, which (a) extended the maturity date for the revolving credit commitments from June 28, 2024 to April 21, 2028, (b) increased the aggregate revolving credit commitments from $1,100.0 million to $2,000.0 million, and (c) made certain other corresponding changes and updates. Other than as modified by Amendment No. 9, the loans under the Credit Agreement continue to have the same terms and the parties to the Credit Agreement continue to have the same obligations set forth in the Credit Agreement. The amendment resulted in the write-off of unamortized debt issuance costs of $0.9 million which was recognized in “Loss on extinguishment of debt” in the Condensed Consolidated Statements of Operations. See Note 11 “Debt” to the consolidated financial statements in the Company’s annual report on Form 10-K for the year ended December 31, 2022 for further information on the Senior Secured Credit Facilities. As of June 30, 2023, the aggregate amount of commitments under the Revolving Credit Facility was $2,000.0 million and the capacity under the Revolving Credit Facility to issue letters of credit was $400.0 million. As of June 30, 2023, the Company had no outstanding borrowings under the Revolving Credit Facility, no outstanding letters of credit under the Revolving Credit Facility and unused availability under the Revolving Credit Facility of $2,000.0 million. As of June 30, 2023, we were in compliance with all covenants of our Senior Secured Credit Facilities.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Plans	Stock-Based Compensation Plans The Company has outstanding stock-based compensation awards granted under the 2013 Stock Incentive Plan (“2013 Plan”) and the 2017 Omnibus Incentive Plan (as amended by the First Amendment, dated April 27, 2021, “2017 Plan”) as described in Note 18, “Stock-Based Compensation Plans” to the consolidated financial statements in its 2022 Form 10-K. The Company’s stock-based compensation awards are generally granted in the first quarter of the year and consist of stock options, restricted stock units and performance share units. Eligible employees were also granted restricted stock units, during the three month period ended September 30, 2020, that vest ratably over two years, subject to the passage of time and the employee’s continued employment during such period. In some instances, such as death, awards may vest concurrently with or following an employee’s termination. Stock-Based Compensation For the three month periods ended June 30, 2023 and 2022, the Company recognized stock-based compensation expense of $11.9 million and $22.4 million, respectively, and $24.0 million and $42.2 million for the six month period then ended, respectively. These costs are included in “Cost of sales” and “Selling and administrative expenses” in the Condensed Consolidated Statements of Operations. In the six month period ended June 30, 2023, the $24.0 million of stock-based compensation expense included expense for equity awards granted under the 2013 and 2017 Plan of $23.4 million and an increase in the liability for stock appreciation rights (“SAR”) of $0.6 million. As of June 30, 2023, there was $136.8 million of total unrecognized compensation expense related to outstanding stock options, restricted stock unit awards and performance stock unit awards granted to employees and non-employee directors, as well as 400,000 conditional stock options awarded during the third quarter of 2022 to our Chairman and CEO in which the service date precedes the grant date, and will be granted upon achievement of certain performance targets. These 400,000 stock options have not been included in the Stock Option Awards section below since the grant date has not occurred. Stock Option Awards Stock options are granted to employees with an exercise price equal to the fair value of the Company’s per share common stock on the date of grant. Stock option awards typically vest over four A summary of the Company’s stock option (including SARs) activity for the six month period ended June 30, 2023 is presented in the following table (underlying shares in thousands). Shares Weighted-Average Exercise Price (per share) Stock options outstanding as of December 31, 2022 6,383 $ 25.22 Granted 744 57.90 Exercised or settled (832) 19.44 Forfeited (83) 48.97 Expired (1) 39.15 Stock options outstanding as of June 30, 2023 6,211 29.58 Vested as of June 30, 2023 4,426 21.36 The following assumptions were used to estimate the fair value of options granted during the six month periods ended June 30, 2023 and 2022 using the Black-Scholes option-pricing model. For the Six Month Period Ended June 30, Assumptions 2023 2022 Expected life of options (in years) 6.3 - 7.5 6.3 Risk-free interest rate 3.8% - 4.1% 1.9% - 3.1% Assumed volatility 36.4% - 36.6% 37.1% - 38.3% Expected dividend rate 0.1 % 0.2 % Restricted Stock Unit Awards Restricted stock units are granted to employees and non-employee directors based on the market price of the Company’s common stock on the grant date and recognized in compensation expense over the vesting period. A summary of the Company’s restricted stock unit activity for the six month period ended June 30, 2023 is presented in the following table (underlying shares in thousands). Shares Weighted-Average Grant-Date Fair Value Non-vested as of December 31, 2022 1,005 $ 43.50 Granted 378 57.90 Vested (342) 37.16 Forfeited (50) 50.45 Non-vested as of June 30, 2023 991 50.82 Performance Share Unit (“PSUs”) Awards Annually, during the first quarter, the Company grants TSR PSUs to certain officers in which the number of shares issued at the end of the performance period is determined by the Company’s total shareholder return percentile rank versus the S&P 500 index for the three year performance period. The grant date fair value of these awards is determined using a Monte Carlo simulation pricing model and compensation cost is recognized straight-line over a three year period. During the third quarter of 2022, the Company granted Special TSR PSUs to its Chairman and CEO that will become earned (but not vested) on the first date during the five year performance period on which the sum of (i) the 60-day volume-weighted average closing price of the Company’s common stock, plus (ii) the cumulative value of any dividends paid during the five year performance period equals or exceeds $81.85. The grant date fair value of these awards is determined using a Monte Carlo simulation pricing model and compensation cost is recognized straight-line over a five year period. The Company also granted its Chairman and CEO Special EPS PSUs that are eligible to vest based on the level of compounded annual growth rate of the Company’s Adjusted EPS during the five year performance period. The grant date fair value of these awards is based on the market price of the Company’s common stock on the grant date and recognized as a compensation expense over a 4.3 year period. A summary of the Company’s performance stock unit activity for the six month period ended June 30, 2023 is presented in the following table (underlying shares in thousands). Shares Weighted-Average Grant-Date Fair Value Non-vested as of December 31, 2022 1,539 $ 44.99 Granted 149 75.52 Change in units based on performance 222 29.72 Vested (444) 29.72 Forfeited (43) 61.93 Non-vested as of June 30, 2023 1,423 50.05 The following assumptions were used to estimate the fair value of performance share units granted during the six month periods ended June 30, 2023 and 2022 using the Monte Carlo simulation pricing model. For the Six Month Period Ended June 30, Assumptions 2023 2022 Expected term (in years) 2.9 2.9 Risk-free interest rate 4.4% 1.7 % Assumed volatility 31.8% 36.4 % Expected dividend rate 0.1 % 0.2 %

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive LossThe Company’s other comprehensive income (loss) consists of (i) unrealized foreign currency net gains and losses on the translation of the assets and liabilities of its foreign operations; (ii) realized and unrealized foreign currency gains and losses on certain hedges of net investments in foreign operations, net of income taxes; (iii) unrealized gains and losses on cash flow hedges (consisting of interest rate swap and cap contracts), net of income taxes; and (iv) pension and other postretirement prior service cost and actuarial gains or losses, net of income taxes. See Note 9 “ Benefit Plans ” and Note 13 “ Hedging Activities and Derivative Instruments .” The before tax income (loss) and related income tax effect are as follows. For the Three Month Period Ended June 30, 2023 2022 Before-Tax Amount Tax Benefit or (Expense) Net of Tax Amount Before-Tax Amount Tax Benefit or (Expense) Net of Tax Amount Foreign currency translation adjustments, net $ (46.6) $ — $ (46.6) $ (183.4) $ (28.7) $ (212.1) Unrecognized gains (losses) on cash flow hedges 14.6 (3.7) 10.9 (6.3) 0.9 (5.4) Pension and other postretirement benefit prior service cost and gain or loss, net (1.5) 0.4 (1.1) (2.6) 0.6 (2.0) Other comprehensive loss $ (33.5) $ (3.3) $ (36.8) $ (192.3) $ (27.2) $ (219.5) For the Six Month Period Ended June 30, 2023 2022 Before-Tax Amount Tax Benefit or (Expense) Net of Tax Amount Before-Tax Amount Tax Benefit or (Expense) Net of Tax Amount Foreign currency translation adjustments, net $ (0.4) $ (15.4) $ (15.8) $ (205.1) $ (35.8) $ (240.9) Unrecognized gains (losses) on cash flow hedges 7.5 (1.9) 5.6 (6.3) 0.9 (5.4) Pension and other postretirement benefit prior service cost and gain or loss, net (1.7) 0.4 (1.3) (4.1) 1.0 (3.1) Other comprehensive loss $ 5.4 $ (16.9) $ (11.5) $ (215.5) $ (33.9) $ (249.4) The tables above include only the other comprehensive income (loss), net of tax, attributable to Ingersoll Rand Inc. Other comprehensive income (loss), net, attributable to noncontrolling interest holders was $(0.1) million and $(4.8) million for the three month periods ended June 30, 2023 and 2022, respectively, and $0.8 million and $(4.2) million for the six month periods ended June 30, 2023 and 2022, respectively, and related entirely to foreign currency translation adjustments. Changes in accumulated other comprehensive loss by component for the six month periods ended June 30, 2023 and 2022 are presented in the following table net of tax. Foreign Currency Translation Adjustments, Net Cash Flow Hedges Pension and Other Postretirement Benefit Plans Total Balance as of December 31, 2022 $ (282.8) $ 16.0 $ 15.1 $ (251.7) Other comprehensive income (loss) before reclassifications (8.2) 10.1 (0.1) 1.8 Amounts reclassified from accumulated other comprehensive loss (7.6) (4.5) (1.2) (13.3) Other comprehensive income (loss) (15.8) 5.6 (1.3) (11.5) Balance as of June 30, 2023 $ (298.6) $ 21.6 $ 13.8 $ (263.2) Foreign Currency Translation Adjustments, Net Cash Flow Hedges Pension and Other Postretirement Benefit Plans Total Balance as of December 31, 2021 $ (29.9) $ — $ (11.7) $ (41.6) Other comprehensive loss before reclassifications (240.8) (5.5) (2.6) (248.9) Amounts reclassified from accumulated other comprehensive loss (0.1) 0.1 (0.5) (0.5) Other comprehensive loss (240.9) (5.4) (3.1) (249.4) Balance as of June 30, 2022 $ (270.8) $ (5.4) $ (14.8) $ (291.0) Reclassifications out of accumulated other comprehensive loss for the six month periods ended June 30, 2023 and 2022 are presented in the following table. Amount Reclassified from Accumulated Other Comprehensive Loss Details about Accumulated Other Comprehensive Loss Components For the Six Month Period Ended June 30, Affected Line(s) in the Statement Where Net Income is Presented 2023 2022 Cash flow hedges (interest rate swaps and caps) $ (6.0) $ 0.1 Interest expense Provision for income taxes 1.5 — Provision for income taxes Cash flow hedges (interest rate swaps and caps), net of tax $ (4.5) $ 0.1 Net investment hedges $ (10.2) $ (0.1) Interest expense Provision for income taxes 2.6 — Provision for income taxes Net investment hedges, net of tax $ (7.6) $ (0.1) Amortization of defined benefit pension and other postretirement benefit items (1) $ (1.6) $ (0.7) Cost of sales and Selling and administrative expenses Provision for income taxes 0.4 0.2 Provision for income taxes Amortization of defined benefit pension and other postretirement benefit items, net of tax $ (1.2) $ (0.5) Total reclassifications for the period, net of tax $ (13.3) $ (0.5) (1) These components are included in the computation of net periodic benefit cost. See Note 9 “ Benefit Plans ” for additional details.

Hedging Activities and Derivati

Hedging Activities and Derivative Instruments	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Activities and Derivative Instruments	Hedging Activities and Derivative Instruments Hedging Activities The Company is exposed to certain market risks during the normal course of its business arising from adverse changes in interest rates and foreign currency exchange rates. The Company selectively uses derivative financial instruments (“derivatives”), including cross-currency interest rate swap and foreign currency forward contracts and interest rate swap and cap contracts, to manage the risks from fluctuations in foreign currency exchange rates and interest rates, respectively. The Company does not purchase or hold derivatives for trading or speculative purposes. The Company’s exposure to interest rate risk results primarily from its variable-rate borrowings. The Company manages its debt centrally, considering tax consequences and its overall financing strategies. The Company manages its exposure to interest rate risk by using interest rate caps and pay-fixed swaps as cash flow hedges of variable rate debt in order to adjust the relative fixed and variable proportions. A substantial portion of the Company’s operations is conducted by its subsidiaries outside of the United States in currencies other than the USD. Almost all of the Company’s non-U.S. subsidiaries conduct their business primarily in their local currencies, which are also their functional currencies. The USD, the EUR, GBP, Chinese Renminbi and Indian rupee are the principal currencies in which the Company and its subsidiaries enter into transactions. The Company is exposed to the impacts of changes in foreign currency exchange rates on the translation of its non-U.S. subsidiaries’ assets, liabilities and earnings into USD. The Company manages this exposure by having certain U.S. subsidiaries borrow in currencies other than the USD or utilizing cross-currency interest rate swaps as net investment hedges. The Company and its subsidiaries are also subject to the risk that arises when they, from time to time, enter into transactions in currencies other than their functional currency. To mitigate this risk, the Company and its subsidiaries typically settle intercompany trading balances at least quarterly. The Company also selectively uses forward currency contracts to manage this risk. These contracts for the sale or purchase of European and other currencies generally mature within one year. Derivative Instruments The following table summarizes the notional amounts, fair values and classification of the Company’s outstanding derivatives by risk category and instrument type within the Condensed Consolidated Balance Sheets as of June 30, 2023 and December 31, 2022. June 30, 2023 Derivative Classification Notional Amount (1) Fair Value (1) Other Current Assets Fair Value (1) Other Assets Fair Value (1) Accrued Liabilities Fair Value (1) Other Liabilities Derivatives Designated as Hedging Instruments Interest rate swap contracts Cash flow $ 528.5 $ 11.1 $ 5.4 $ — $ — Interest rate cap contracts Cash flow 1,000.0 13.0 8.0 — — Cross-currency interest rate swap contracts Net investment 1,054.2 15.6 — — 48.8 Derivatives Not Designated as Hedging Instruments Foreign currency forwards Fair value $ 7.3 $ — $ — $ — $ — Foreign currency forwards Fair value 1.7 — — — — December 31, 2022 Derivative Classification Notional Amount (1) Fair Value (1) Other Current Assets Fair Value (1) Other Assets Fair Value (1) Accrued Liabilities Fair Value (1) Other Liabilities Derivatives Designated as Hedging Instruments Interest rate swap contracts Cash Flow $ 528.5 $ 8.8 $ 5.3 $ — $ — Interest rate cap contracts Cash flow 1,000.0 8.3 9.8 — — Cross-currency interest rate swap contracts Net investment 1,054.2 17.7 — — 28.7 Derivatives Not Designated as Hedging Instruments Foreign currency forwards Fair Value $ 7.3 $ — $ — $ — $ — Foreign currency forwards Fair Value 15.8 — — — — (1) Notional amounts represent the gross contract amounts of the outstanding derivatives excluding the total notional amount of positions that have been effectively closed through offsetting positions. The net gains and net losses associated with positions that have been effectively closed through offsetting positions but not yet settled are included in the asset and liability derivatives fair value columns, respectively. Payments of interest rate cap premiums are classified as financing cash flows in the Condensed Consolidated Statements of Cash Flows. All other cash flows related to derivatives are classified as operating cash flows in the Condensed Consolidated Statements of Cash Flows. There were no off-balance sheet derivative instruments as of June 30, 2023 or December 31, 2022. Interest Rate Swap and Cap Contracts Designated as Cash Flow Hedges As of June 30, 2023, the Company was the fixed rate payor on two interest rate swap contracts that effectively fix the SOFR-based index used to determine the interest rates charged on a total of $528.5 million of the Company’s SOFR-based variable rate borrowings. These contracts carry a fixed rate of 3.2% and expire in 2025. These swap agreements qualify as hedging instruments and have been designated as cash flow hedges of forecasted SOFR-based interest payments. Based on SOFR-based swap yield curves as of June 30, 2023, the Company expects to reclassify gains of $11.2 million out of accumulated other comprehensive income (“AOCI”) into earnings during the next 12 months. As of June 30, 2023, the Company entered into three interest rate cap contracts that effectively limit the SOFR-based index used to determine the interest rates charged on a total of $1,000.0 million of the Company’s SOFR-based variable rate borrowings to 4.0% and expire in 2025. These swap agreements qualify as hedging instruments and have been designated as cash flow hedges of forecasted SOFR-based interest payments. As of June 30, 2023, the Company expects to reclassify net gains of $7.6 million out of AOCI into earnings during the next 12 months. Gains (losses) on derivatives designated as cash flow hedges included in the Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six month periods ended June 30, 2023 and 2022 are as presented in the table below. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Gain (loss) recognized in OCI on derivatives $ 18.6 $ (6.6) $ 13.5 $ (6.6) Gain (loss) reclassified from AOCI into income (effective portion) (1) 4.0 (0.1) 6.0 (0.1) (1) Losses on derivatives reclassified from AOCI into income were included within “Interest expense” in the Condensed Consolidated Statements of Operations. Cross-Currency Interest Rate Swap Contracts Designated as Net Investment Hedges As of June 30, 2023, the Company was the fixed rate payor on two cross-currency interest rate swap contracts that replace a fixed rate of 3.2% on a total of $528.5 million with a fixed rate of 1.6% on a total of €500.0 million. These contracts expire in 2025. These contracts have been designated as net investment hedges of our Euro denominated subsidiaries and require an exchange of the notional amounts at maturity. As of June 30, 2023, the Company entered into three cross-currency interest rate swap contracts where we receive SOFR on a total of $525.7 million and pay EURIBOR on a total of €500.0 million. These contracts expire in 2025. These contracts have been designated as net investment hedges of our Euro denominated subsidiaries and require an exchange of the notional amounts at maturity. Gains (losses) on derivatives designated as net investment hedges included in the Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six month periods ended June 30, 2023 and 2022 are as presented in the table below. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Gain (loss) recognized in OCI on derivatives $ (6.6) $ 6.0 $ (12.1) $ 6.0 Gain reclassified from AOCI into income (effective portion) (1) 4.8 0.1 10.2 0.1 (1) Gains on derivatives reclassified from AOCI into income were included within “Interest expense” in the Condensed Consolidated Statements of Operations. Foreign Currency Forwards Not Designated as Hedging Instruments The Company had two foreign currency forward contracts outstanding as of June 30, 2023 with notional amounts ranging from $1.7 million to $7.3 million. These contracts are used to hedge the change in fair value of recognized foreign currency denominated assets or liabilities caused by changes in currency exchange rates. The changes in the fair value of these contracts generally offset the changes in the fair value of a corresponding amount of the hedged items, both of which are included within “Other operating expense, net” in the Condensed Consolidated Statements of Operations. The Company’s foreign currency forward contracts are subject to master netting arrangements or agreements between the Company and each counterparty for the net settlement of all contracts through a single payment in a single currency in the event of default on or termination of any one contract with that certain counterparty. It is the Company’s practice to recognize the gross amounts in the Condensed Consolidated Balance Sheets. The amount available to be netted is not material. The Company’s gains (losses) on derivative instruments not designated as accounting hedges and total net foreign currency losses for the three and six month periods ended June 30, 2023 and 2022 were as follows. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Foreign currency forward contracts gains $ — $ 4.1 $ 0.2 $ 3.1 Total foreign currency transaction gains, net 1.1 1.8 0.1 5.6 Foreign Currency Denominated Debt Designated as a Net Investment Hedge In February 2020, the Company designated its Euro Term Loan, which had a principal balance at that time of €601.2 million, as a hedge of the Company’s net investment in subsidiaries with a functional currency of euro. This loan was repaid in June 2022 and the hedge has been discontinued. The Company’s gains, net of income tax, associated with changes in the value of debt for the three and six month period ended June 30, 2022 were $23.1 million and $36.4 million, respectively.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements A financial instrument is defined as cash or cash equivalents, evidence of an ownership interest in an entity, or a contract that creates a contractual obligation or right to deliver or receive cash or another financial instrument from another party. The Company’s financial instruments consist primarily of cash and cash equivalents, trade accounts receivables, trade accounts payables, deferred compensation assets and obligations, acquisition related contingent consideration obligations, derivatives and debt instruments. The carrying values of cash and cash equivalents, trade accounts receivables, trade accounts payables, and variable rate debt instruments are a reasonable estimate of their respective fair values. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or more advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value as follows. Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities as of the reporting date. Level 2 Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities as of the reporting date. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022. June 30, 2023 Level 1 Level 2 Level 3 Total Financial Assets Trading securities held in deferred compensation plan (1) $ 15.3 $ — $ — $ 15.3 Interest rate swaps (2) — 16.5 — 16.5 Interest rate caps (3) — 21.0 — 21.0 Cross-currency interest rate swaps (4) — 15.6 — 15.6 Foreign currency forwards (5) — — — — Total $ 15.3 $ 53.1 $ — $ 68.4 Financial Liabilities Deferred compensation plans (1) $ 21.9 $ — $ — $ 21.9 Cross-currency interest rate swaps (4) — 48.8 — 48.8 Contingent consideration (6) — — 62.5 62.5 Foreign currency forwards (5) — — — — Total $ 21.9 $ 48.8 $ 62.5 $ 133.2 December 31, 2022 Level 1 Level 2 Level 3 Total Financial Assets Trading securities held in deferred compensation plan (1) $ 12.3 $ — $ — $ 12.3 Interest rate swaps (2) — 14.1 — 14.1 Interest rate caps (3) — 18.1 — 18.1 Cross-currency interest rate swaps (4) — 17.7 — 17.7 Foreign currency forwards (5) — — — — Total $ 12.3 $ 49.9 $ — $ 62.2 Financial Liabilities Deferred compensation plan (1) $ 19.6 $ — $ — $ 19.6 Cross-currency interest rate swaps (4) — 28.7 — 28.7 Contingent consideration (6) — — 43.9 43.9 Foreign currency forwards (5) — — — — Total $ 19.6 $ 28.7 $ 43.9 $ 92.2 (1) Based on the quoted price of publicly traded mutual funds and other equity securities which are classified as trading securities and accounted for using the mark-to-market method. (2) Measured as the present value of all expected future cash flows based on the SOFR-based swap yield curves as of June 30, 2023. The present value calculation uses discount rates that have been adjusted to reflect the credit quality of the Company and its counterparties. (3) Measured as the present value of all expected future cash flows that would occur if variable interest rates rise above the strike rate of the caps. The variable interest rates used in the calculation of projected receipts on the cap are based on an expectation of future interest rates derived from observable market volatilities and interest rate curves. (4) Measured as the present value of all expected future cash flows on each leg of the contracts. The model utilizes inputs of observable market data including interest yield curves and foreign currency exchange rates. The present value calculation uses cross-currency basis-adjusted discount factors that have been adjusted to reflect the credit quality of the Company and its counterparties. (5) Based on calculations that use readily observable market parameters at their basis, such as spot and forward rates. (6) Measured as the present value of expected consideration payable for completed acquisitions, generally derived using probability-weighted analysis of achieving projected revenue or EBITDA targets. Contingent Consideration Certain of the Company’s acquisitions may result in payments of consideration in future periods that are contingent upon the achievement of certain targets, generally measures of revenue and EBITDA. As part of the initial accounting for the acquisition, a liability is recorded for the estimated fair value of the contingent consideration on the acquisition date. The fair value of the contingent consideration is re-measured at each reporting period, and the change in fair value is recognized within “Other operating expense, net” in the Condensed Consolidated Statements of Operations. This fair value measurement of contingent consideration is categorized within Level 3 of the fair value hierarchy, as the measurement amount is based primarily on significant inputs that are not observable in the market. The following table provides a reconciliation of the activity for contingent consideration for the three and six month period ended June 30, 2023. For the Three Month Period Ended For the Six Month Period Ended Balance at beginning of the period $ 48.4 $ 43.9 Acquisitions 12.8 12.8 Changes in fair value 4.1 8.4 Payments (3.1) (3.1) Foreign currency translation 0.3 0.5 Balance at end of the period $ 62.5 $ 62.5 As of June 30, 2023, the contingent consideration included in “Accrued liabilities” and “Other liabilities” on the Condensed Consolidated Balance Sheets were $20.5 million and $42.0 million, respectively.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Overview The Company recognizes revenue when the Company has satisfied its obligation and control is transferred to the customer. The amount of revenue recognized includes adjustments for any variable consideration, such as rebates, sales discounts, liquidated damages, etc., which are included in the transaction price, and allocated to each performance obligation. The variable consideration is estimated throughout the course of the contract using the Company’s best estimates. The majority of the Company’s revenues are derived from short duration contracts and revenue is recognized at a single point in time when control is transferred to the customer, generally at shipment or when delivery has occurred or services have been rendered. The Company has certain long duration engineered to order (“ETO”) contracts that require highly engineered solutions designed to customer specific applications. For contracts where the contractual deliverables have no alternative use and the contract termination clauses provide for the recovery of cost plus a reasonable margin, revenue is recognized over time based on the Company’s progress in satisfying the contractual performance obligations, generally measured as the ratio of actual costs incurred to date to the estimated total costs to complete the contract. For contracts with termination provisions that do not provide for recovery of cost and a reasonable margin, revenue is recognized at a point in time, generally at shipment or delivery to the customer. Identification of performance obligations, determination of alternative use, assessment of contractual language regarding termination provisions, and estimation of total project costs are all significant judgments required in the application of ASC 606. Contractual specifications and requirements may be modified. The Company considers contract modifications to exist when the modification either creates new or changes the existing enforceable rights and obligations. In the event a contract modification is for goods or services that are not distinct in the contract, and therefore, form part of a single performance obligation that is partially satisfied as of the modification date, the effect of the contract modification on the transaction price and the Company’s measure of progress for the performance obligation to which it relates, is recognized on a cumulative catch-up basis. Taxes assessed by a government authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Sales commissions are generally due at either collection of payment from customers or recognition of revenue. Applying the practical expedient from ASC 340-40-25-4, the Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less. These costs are included in “Selling and administrative expenses” in the Condensed Consolidated Statements of Operations. Disaggregation of Revenue The following tables provide disaggregated revenue by reportable segment for the three and six month periods ended June 30, 2023 and 2022. Industrial Technologies and Services Precision and Science Technologies Total Three Month Period Ended June 30, 2023 2022 2023 2022 2023 2022 Primary Geographic Markets United States $ 556.8 $ 468.9 $ 140.8 $ 135.7 $ 697.6 $ 604.6 Other Americas 88.0 81.0 7.1 6.9 95.1 87.9 Total Americas 644.8 549.9 147.9 142.6 792.7 692.5 EMEIA 428.5 343.3 113.9 105.2 542.4 448.5 Asia Pacific 305.1 257.3 46.3 41.6 351.4 298.9 Total $ 1,378.4 $ 1,150.5 $ 308.1 $ 289.4 $ 1,686.5 $ 1,439.9 Product Categories Original equipment $ 843.2 $ 697.8 $ 244.5 $ 234.2 $ 1,087.7 $ 932.0 Aftermarket 535.2 452.7 63.6 55.2 598.8 507.9 Total $ 1,378.4 $ 1,150.5 $ 308.1 $ 289.4 $ 1,686.5 $ 1,439.9 Pattern of Revenue Recognition Revenue recognized at point in time (1) $ 1,266.2 $ 1,065.9 $ 306.1 $ 288.7 $ 1,572.3 $ 1,354.6 Revenue recognized over time (2) 112.2 84.6 2.0 0.7 114.2 85.3 Total $ 1,378.4 $ 1,150.5 $ 308.1 $ 289.4 $ 1,686.5 $ 1,439.9 Industrial Technologies and Services Precision and Science Technologies Total Six Month Period Ended June 30, 2023 2022 2023 2022 2023 2022 Primary Geographic Markets United States $ 1,108.0 $ 883.7 $ 285.0 $ 270.0 $ 1,393.0 $ 1,153.7 Other Americas 178.9 154.3 14.4 15.4 193.3 169.7 Total Americas 1,286.9 1,038.0 299.4 285.4 1,586.3 1,323.4 EMEIA 854.5 675.1 227.3 214.9 1,081.8 890.0 Asia Pacific 554.2 477.0 93.5 86.5 647.7 563.5 Total $ 2,695.6 $ 2,190.1 $ 620.2 $ 586.8 $ 3,315.8 $ 2,776.9 Product Categories Original equipment $ 1,633.3 $ 1,312.0 $ 489.8 $ 473.2 $ 2,123.1 $ 1,785.2 Aftermarket 1,062.3 878.1 130.4 113.6 1,192.7 991.7 Total $ 2,695.6 $ 2,190.1 $ 620.2 $ 586.8 $ 3,315.8 $ 2,776.9 Pattern of Revenue Recognition Revenue recognized at point in time (1) $ 2,486.7 $ 2,022.5 $ 617.3 $ 584.2 $ 3,104.0 $ 2,606.7 Revenue recognized over time (2) 208.9 167.6 2.9 2.6 211.8 170.2 Total $ 2,695.6 $ 2,190.1 $ 620.2 $ 586.8 $ 3,315.8 $ 2,776.9 (2) Revenues primarily from long duration ETO product contracts and certain contracts for delivery of a significant volume of substantially similar products recognized over time as contractual performance obligations are completed. Performance Obligations As of June 30, 2023, for contracts with an original duration greater than one year, the Company expects to recognize revenue in the future related to unsatisfied (or partially satisfied) performance obligations of $655.3 million in the next twelve months and $528.6 million in periods thereafter. The performance obligations that are unsatisfied (or partially satisfied) are primarily related to orders for goods or services that were placed prior to the end of the reporting period and have not been delivered to the customer, on-going work on ETO contracts where revenue is recognized over time and service contracts with an original duration greater than one year. Contract Balances The following table provides the contract balances as of June 30, 2023 and December 31, 2022 presented in the Condensed Consolidated Balance Sheets. June 30, 2023 December 31, 2022 Accounts receivable, net $ 1,219.8 $ 1,122.0 Contract assets 48.5 70.6 Contract liabilities - current 339.2 305.6 Contract liabilities - noncurrent 1.1 1.1

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table summarizes the Company’s provision for income taxes and effective income tax provision rate for the three and six month periods ended June 30, 2023 and 2022. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Income before income taxes $ 238.9 $ 180.5 $ 449.9 $ 323.1 Provision for income taxes $ 60.5 $ 41.9 $ 108.6 $ 74.3 Effective income tax provision rate 25.3 % 23.2 % 24.1 % 23.0 % The increase in the provision for income taxes and increase in the effective income tax provision rate for the three month period ended June 30, 2023 when compared to the same three month period of 2022 is primarily due to an increase in the pretax book income in jurisdictions with higher effective tax rates combined with decreased earnings in jurisdictions with lower tax rates.

Other Operating Expense, Net

Other Operating Expense, Net	6 Months Ended
	Jun. 30, 2023
Other Income and Expenses [Abstract]
Other Operating Expense Net	Other Operating Expense, Net The components of “Other operating expense, net” for the three and six month periods ended June 30, 2023 and 2022 were as follows. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Foreign currency transaction gains, net $ (1.1) $ (1.8) $ (0.1) $ (5.6) Restructuring charges, net (1) 5.2 8.9 8.1 21.4 Acquisition and other transaction related expenses (2) 12.8 5.4 28.0 12.9 Other, net 2.9 0.7 4.2 1.9 Total other operating expense, net $ 19.8 $ 13.2 $ 40.2 $ 30.6 (1) See Note 4 “ Restructuring .” (2) Represents costs associated with successful and abandoned acquisitions, including third-party expenses and post-closure integration costs.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies The Company is a party to various legal proceedings, lawsuits and administrative actions, which are of an ordinary or routine nature for a company of its size and sector. The Company believes that such proceedings, lawsuits and administrative actions will not materially adversely affect its operations, financial condition, liquidity or competitive position. For further description of the Company’s contingencies, reference is made to Note 21, “Contingencies” in the notes to consolidated financial statements in the Company’s 2022 Form 10-K. Asbestos and Silica Related Litigation The Company believes that the pending and future asbestos and silica-related lawsuits are not likely to, in the aggregate, have a material adverse effect on its consolidated financial position, results of operations or liquidity. “Accrued liabilities” and “Other liabilities” of the Condensed Consolidated Balance Sheets include a total litigation reserve of $133.0 million and $137.9 million as of June 30, 2023 and December 31, 2022, respectively, with regards to potential liability arising from the Company’s asbestos-related litigation. Asbestos related defense costs are excluded from the asbestos claims liability and are recorded separately as services are incurred. In the event of unexpected future developments, it is possible that the ultimate resolution of these matters may be material to the Company’s consolidated financial position, results of operation or liquidity. The Company has entered into a series of agreements with certain of its or its predecessors’ legacy insurers and certain potential indemnitors to secure insurance coverage and/or reimbursement for the costs associated with the asbestos and silica-related lawsuits filed against the Company. The Company has an insurance recovery receivable for probable asbestos related recoveries of approximately $154.0 million and $154.2 million as of June 30, 2023 and December 31, 2022, respectively, which was included in “Other assets” in the Condensed Consolidated Balance Sheets. The amounts recorded by the Company for asbestos-related liabilities and insurance recoveries are based on currently available information and assumptions that the Company believes are reasonable based on an evaluation of relevant factors. The actual liabilities or insurance recoveries could be higher or lower than those recorded if actual results vary significantly from the assumptions. Environmental Matters The Company has been identified as a potentially responsible party (“PRP”) with respect to several sites designated for cleanup under U.S. federal “Superfund” or similar state laws that impose liability for cleanup of certain waste sites and for related natural resource damages. The Company has undiscounted accrued liabilities of $14.9 million and $13.5 million as of June 30, 2023 and December 31, 2022, respectively, on its Condensed Consolidated Balance Sheets to the extent costs are known or can be reasonably estimated for its remaining financial obligations in relation to environmental matters and does not anticipate that any of these matters will result in material additional costs beyond amounts accrued. Based upon consideration of currently available information, the Company does not anticipate any material adverse effect on its results of operations, financial condition, liquidity or competitive position as a result of compliance with federal, state, local or foreign environmental laws or regulations, or cleanup costs relating to these matters.

Segment Results

Segment Results	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Results	Segment Results A description of the Company’s two reportable segments is presented below. In the Industrial Technologies and Services segment, the Company designs, manufactures, markets and services a broad range of compression and vacuum equipment as well as fluid transfer equipment, loading systems, power tools and lifting equipment. The Company’s compression and vacuum products are used worldwide in industrial manufacturing, transportation, chemical processing, food and beverage production, energy, environmental and other applications. In addition to equipment sales, the Company offers a broad portfolio of service options tailored to customer needs and complete range of aftermarket parts, air treatment equipment, controls and other accessories. The Company’s engineered loading systems and fluid transfer equipment ensure the safe handling and transfer of crude oil, liquefied natural gas, compressed natural gas, chemicals, and bulk materials. The Company’s power tools and lifting equipment are used by customers in industrial manufacturing, vehicle maintenance, energy and other markets for precision fastening, bolt removal, grinding, sanding, drilling, demolition and the safe and efficient lifting, positioning and movement of loads. The Company sells its products primarily through independent distributors worldwide and also sells directly to the customer. In the Precision and Science Technologies segment, the Company designs, manufactures and markets a broad range of specialized positive displacement pumps, fluid management equipment and aftermarket parts for medical, laboratory, industrial manufacturing, water and wastewater, chemical processing, energy, food and beverage, agriculture and other markets. The Company’s products are used for a diverse set of applications including precision dosing of chemicals and supplements, blood dialysis, oxygen therapy, food processing, fluid transfer and dispensing, spray finishing and coating, mixing, high-pressure air and gas management and others. The Company sells primarily through a broad global network of specialized and national distributors and original equipment manufacturers (“OEM”) who integrate the Company’s products into their devices and systems. The Chief Operating Decision Maker (“CODM”) evaluates the performance of the Company’s reportable segments based on, among other measures, Segment Adjusted EBITDA. Management closely monitors the Segment Adjusted EBITDA of each reportable segment to evaluate past performance and actions required to improve profitability. Inter-segment sales and transfers are not significant. Administrative expenses related to the Company’s corporate offices and shared service centers in North America and Europe, which includes transaction processing, accounting and other business support functions, are allocated to the business segments. Certain administrative expenses, including senior management compensation, treasury, internal audit, tax compliance, certain information technology, and other corporate functions, are not allocated to the business segments. The following table provides summarized information about the Company’s operations by reportable segment and reconciles Segment Adjusted EBITDA to Income from Continuing Operations Before Income Taxes for the three and six month periods ended June 30, 2023 and 2022. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Revenue Industrial Technologies and Services $ 1,378.4 $ 1,150.5 $ 2,695.6 $ 2,190.1 Precision and Science Technologies 308.1 289.4 620.2 586.8 Total Revenue $ 1,686.5 $ 1,439.9 $ 3,315.8 $ 2,776.9 Segment Adjusted EBITDA Industrial Technologies and Services $ 377.5 $ 292.0 $ 723.1 $ 539.4 Precision and Science Technologies 90.0 77.7 184.5 162.8 Total Segment Adjusted EBITDA $ 467.5 $ 369.7 $ 907.6 $ 702.2 Less items to reconcile Segment Adjusted EBITDA to Income from Continuing Operations Before Income Taxes: Corporate expenses not allocated to segments $ 42.8 $ 34.8 $ 82.8 $ 63.7 Interest expense 40.8 23.2 79.7 42.2 Depreciation and amortization expense (a) 111.0 103.7 224.1 211.2 Restructuring and related business transformation costs (b) 5.9 9.5 10.2 23.7 Acquisition and other transaction related expenses and non-cash charges (c) 13.8 5.4 31.8 14.9 Stock-based compensation 11.9 22.4 24.0 42.2 Foreign currency transaction gains, net (1.1) (1.8) (0.1) (5.6) Loss on extinguishment of debt 0.9 1.1 0.9 1.1 Adjustments to LIFO inventories 6.5 — 14.3 — Cybersecurity incident costs (d) 2.2 — 2.2 — Other adjustments (e) (6.1) (9.1) (12.2) (14.3) Income from Continuing Operations Before Income Taxes 238.9 180.5 449.9 323.1 Provision for income taxes 60.5 41.9 108.6 74.3 Income (loss) on equity method investments 2.4 (0.8) 2.7 (5.1) Income from Continuing Operations 180.8 137.8 344.0 243.7 Income from discontinued operations, net of tax — 1.5 — 0.1 Net Income $ 180.8 $ 139.3 $ 344.0 $ 243.8 a) Depreciation and amortization expense excludes $0.8 million and $0.8 million of depreciation of rental equipment for the three month periods ended June 30, 2023 and 2022, respectively, and excludes $1.7 million and $1.8 million for the six month periods ended June 30, 2023 and 2022, respectively. b) Restructuring and related business transformation costs consist of the following. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Restructuring charges $ 5.2 $ 8.9 $ 8.1 $ 21.4 Facility reorganization, relocation and other costs 0.7 0.6 2.1 2.3 Total restructuring and related business transformation costs $ 5.9 $ 9.5 $ 10.2 $ 23.7 c) Represents costs associated with successful and abandoned acquisitions, including third-party expenses, post-closure integration costs and non-cash charges and credits arising from fair value purchase accounting adjustments. d) Represents non-recoverable costs associated with a cybersecurity event. e) Includes (i) pension and other postemployment plan costs other than service cost, (ii) interest income on cash and cash equivalents and (iii) other miscellaneous adjustments.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The number of weighted-average shares outstanding used in the computations of basic and diluted earnings per share are as follows. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Average shares outstanding Basic 404.5 404.5 404.8 406.1 Diluted 408.3 409.4 408.8 411.2 For the three month periods ended June 30, 2023 and 2022, 1.6 million and 2.0 million, respectively, of anti-dilutive shares were not included in the computation of diluted earnings per share. For the six month periods ended June 30, 2023 and June 30, 2022, 1.6 million and 1.8 million of anti-dilutive shares were not included in the computation of diluted earnings per share, respectively.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net income attributable to Ingersoll Rand Inc.	$ 179.5	$ 138.5	$ 340.6	$ 242.2

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2023 shares	Jun. 30, 2023 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Vikram Kini [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On June 6, 2023, Vikram Kini, the Company’s Senior Vice President and Chief Financial Officer, adopted a 10b5-1 trading arrangement (a “10b5-1 Plan”). Mr. Kini’s 10b5-1 Plan provides for the potential sale of up to 169,153 shares of the Company’s common stock, including shares obtained from the exercise of vested stock options covered by the 10b5-1 Plan, from September 6, 2023 through March 19, 2024, and is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended.
Name	Vikram Kini
Title	Senior Vice President and Chief Financial Officer,
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 6, 2023
Arrangement Duration	195 days
Aggregate Available	169,153	169,153
Vincente Reynal [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On June 6, 2023, a trust established by Vicente Reynal, the Company's Chairman, President and Chief Executive Officer, for the benefit of himself and his spouse adopted a Rule 10b5-1 trading arrangement (the “Reynal Trust 10b5-1 Plan”). The Reynal Trust 10b5-1 Plan provides for the potential charitable gift to a donor advised wealth fund of up to 18,000 shares of the Company’s common stock from September 14, 2023 through October 31, 2023, and is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended.
Name	Vicente Reynal
Title	Chairman, President and Chief Executive Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 6, 2023
Arrangement Duration	413 days
Aggregate Available	18,000	18,000

Basis of Presentation and Rec_2

Basis of Presentation and Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Ingersoll Rand Inc. is a diversified, global provider of mission-critical flow creation products and industrial solutions. The accompanying condensed consolidated financial statements include the accounts of Ingersoll Rand Inc. and its majority-owned subsidiaries (collectively referred to herein as “Ingersoll Rand” or the “Company”). The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial reporting, the instructions for Form 10-Q and Article 10 of the U.S. Securities and Exchange Commission (“SEC”) Regulation S-X. In the Company’s opinion, the condensed consolidated financial statements reflect all adjustments of a normal recurring nature necessary for a fair statement of the results for the interim periods presented. The condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2022 (“2022 Form 10-K”). Unless otherwise indicated, amounts provided in these Notes pertain to continuing operations. See Note 2 “ Discontinued Operations ” for information on discontinued operations. The results of operations for the three month period ended June 30, 2023 are not necessarily indicative of future results.
Recently Adopted Accounting Standard Updates ("ASU")	Recently Adopted Accounting Standard Updates (“ASU”) In October 2021, the Financial Accounting Standards Board (the “FASB”) issued ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires an entity to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606. The amendments in this update were effective for fiscal years beginning after December 15, 2022 for public companies. The Company adopted this guidance on January 1, 2023 and applies the guidance prospectively to business combinations completed after this date. The adoption did not have a material impact on our condensed consolidated financial statements.
Supply Chain Finance Program	Supply Chain Finance Program The Company has adopted ASU 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations, which requires the following disclosures about supplier finance programs. This adoption had no impact on the Company’s financial position, results of operations or cash flows.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the allocation of consideration for all businesses acquired in 2023 to the fair values of identifiable assets acquired and liabilities assumed at the acquisition dates. Initial accounting for these acquisitions is substantially complete, mainly pending the measurement of certain income tax-related assets and liabilities. Any further adjustments during the measurement period are not expected to be material. Air Treatment All Others Total Accounts receivable $ 26.1 $ 5.9 $ 32.0 Inventories 43.9 12.5 56.4 Other current assets 2.2 0.5 2.7 Property, plant and equipment 18.4 2.7 21.1 Goodwill 276.7 75.2 351.9 Other intangible assets 238.6 18.4 257.0 Other assets 24.1 — 24.1 Total current liabilities (35.6) (6.5) (42.1) Deferred tax liabilities (68.5) — (68.5) Other noncurrent liabilities (6.9) (2.8) (9.7) Total consideration $ 519.0 $ 105.9 $ 624.9 The following table summarizes the allocation of consideration for all businesses acquired in 2022 to the fair values of identifiable assets acquired and liabilities assumed at the acquisition dates. Initial accounting for all 2022 acquisitions is substantially complete. Dosatron International All Others Total Accounts receivable $ 1.8 $ 16.2 $ 18.0 Inventories 6.2 20.4 26.6 Other current assets 0.1 1.3 1.4 Property, plant and equipment 0.3 8.9 9.2 Goodwill 57.4 151.9 209.3 Other intangible assets 41.9 43.0 84.9 Other assets 13.8 0.9 14.7 Total current liabilities (3.5) (30.7) (34.2) Deferred tax liabilities (13.8) (9.7) (23.5) Other noncurrent liabilities — (1.9) (1.9) Total consideration $ 104.2 $ 200.3 $ 304.5

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Schedule of Activity in Restructuring Programs	For the three and six month periods ended June 30, 2023 and 2022, “Restructuring charges, net” were recognized within “Other operating expense, net” in the Condensed Consolidated Statement of Operations and consisted of the following. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Industrial Technologies and Services $ 3.8 $ 8.7 $ 6.9 $ 12.3 Precision and Science Technologies 1.4 0.5 1.0 8.1 Corporate — (0.3) 0.2 1.0 Restructuring charges, net $ 5.2 $ 8.9 $ 8.1 $ 21.4 The following table summarizes the activity associated with the Company’s restructuring programs for the three and six month periods ended June 30, 2023 and 2022. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Balance at beginning of period $ 13.4 $ 16.9 $ 14.9 $ 12.3 Charged to expense - termination benefits 2.4 4.2 3.3 12.5 Charged to expense - other (1) 1.8 2.1 2.9 4.1 Payments (7.2) (3.3) (10.8) (8.2) Currency translation adjustment and other 0.1 (1.9) 0.2 (2.7) Balance at end of period $ 10.5 $ 18.0 $ 10.5 $ 18.0 (1) Excludes $1.0 million and $2.6 million of non-cash charges that impacted restructuring expense but not the restructuring liabilities during the three month periods ended June 30, 2023 and 2022, respectively, and $1.9 million and $4.8 million for the six month periods then ended, respectively.

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2023
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	The allowance for credit losses for the three and six month periods ended June 30, 2023 and 2022 consisted of the following. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Balance at beginning of the period $ 51.0 $ 43.7 $ 47.2 $ 42.3 Provision charged to expense 2.2 4.7 6.2 6.7 Write-offs, net of recoveries (1.3) (1.0) (1.7) (1.5) Foreign currency translation and other (0.7) (2.2) (0.5) (2.3) Balance at end of the period $ 51.2 $ 45.2 $ 51.2 $ 45.2

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories as of June 30, 2023 and December 31, 2022 consisted of the following. June 30, 2023 December 31, 2022 Raw materials, including parts and subassemblies $ 674.1 $ 625.0 Work-in-process 147.3 122.2 Finished goods 354.7 338.7 1,176.1 1,085.9 LIFO reserve (74.8) (60.5) Inventories $ 1,101.3 $ 1,025.4

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying amount of goodwill attributable to each reportable segment for the six month period ended June 30, 2023 is presented in the table below. Industrial Technologies and Services Precision and Science Technologies Total Balance at beginning of period $ 4,222.5 $ 1,841.7 $ 6,064.2 Acquisitions 349.5 2.4 351.9 Foreign currency translation and other (1) 7.7 3.4 11.1 Balance at end of period $ 4,579.7 $ 1,847.5 $ 6,427.2 (1) Includes measurement period adjustments
Schedule of Other Intangible Assets	Other intangible assets as of June 30, 2023 and December 31, 2022 consisted of the following. June 30, 2023 December 31, 2022 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets Customer lists and relationships $ 3,191.6 $ (1,430.7) $ 1,760.9 $ 3,029.0 $ (1,286.1) $ 1,742.9 Technology 393.3 (150.8) 242.5 360.0 (124.5) 235.5 Tradenames 51.8 (25.4) 26.4 46.2 (22.7) 23.5 Backlog 8.0 (4.8) 3.2 1.0 (0.3) 0.7 Other 115.3 (99.6) 15.7 113.7 (93.2) 20.5 Unamortized intangible assets Tradenames 1,611.1 — 1,611.1 1,555.5 — 1,555.5 Total other intangible assets $ 5,371.1 $ (1,711.3) $ 3,659.8 $ 5,105.4 $ (1,526.8) $ 3,578.6

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities as of June 30, 2023 and December 31, 2022 consisted of the following. June 30, 2023 December 31, 2022 Salaries, wages and related fringe benefits $ 200.6 $ 223.3 Contract liabilities 339.2 305.6 Product warranty 57.4 46.2 Operating lease liabilities 39.8 39.6 Restructuring 10.5 14.9 Taxes 88.0 63.3 Other 188.1 165.9 Total accrued liabilities $ 923.6 $ 858.8
Schedule of Product Warranty Liability	A reconciliation of the changes in the accrued product warranty liability for the three and six month periods ended June 30, 2023 and 2022 are as follows. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Balance at beginning of period $ 54.1 $ 42.5 $ 46.2 $ 42.5 Product warranty accruals 15.8 5.2 24.7 9.4 Acquired warranty — — 1.4 — Settlements (11.0) (3.5) (14.9) (7.3) Foreign currency translation and other (1.5) (1.1) — (1.5) Balance at end of period $ 57.4 $ 43.1 $ 57.4 $ 43.1

Benefit Plans (Tables)

Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2023
Retirement Benefits [Abstract]
Schedule of Net Periodic Benefit Cost	The following table summarizes the components of net periodic benefit cost for the Company’s defined benefit pension plans and other postretirement benefit plans recognized for the three and six month periods ended June 30, 2023 and 2022. Pension Benefits Other Postretirement Benefits U.S. Plans Non-U.S. Plans For the Three Month Period Ended June 30, 2023 2022 2023 2022 2023 2022 Service cost $ — $ 1.0 $ 0.6 $ 0.8 $ — $ — Interest cost 3.9 2.9 2.8 1.5 0.3 0.1 Expected return on plan assets (3.4) (3.3) (2.7) (3.0) — — Recognition of: Unrecognized prior service cost — — 0.1 0.1 — — Unrecognized net actuarial loss 0.1 — (0.5) — (0.2) — 0.6 0.6 0.3 (0.6) 0.1 0.1 Gain on settlement (0.6) — — — — — $ — $ 0.6 $ 0.3 $ (0.6) $ 0.1 $ 0.1 Pension Benefits Other Postretirement Benefits U.S. Plans Non-U.S. Plans For the Six Month Period Ended June 30, 2023 2022 2023 2022 2023 2022 Service cost $ — $ 2.1 $ 1.2 $ 1.7 $ — $ — Interest cost 7.9 5.7 5.5 3.1 0.5 0.3 Expected return on plan assets (6.7) (6.5) (5.4) (6.2) — — Recognition of: Unrecognized prior service cost — — 0.1 0.1 — — Unrecognized net actuarial loss 0.1 — (0.9) 0.1 (0.3) — 1.3 1.3 0.5 (1.2) 0.2 0.3 Gain on settlement (0.6) (0.9) — — — — $ 0.7 $ 0.4 $ 0.5 $ (1.2) $ 0.2 $ 0.3

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Debt	Debt as of June 30, 2023 and December 31, 2022 is summarized as follows. June 30, 2023 December 31, 2022 Short-term borrowings $ 1.4 $ 4.5 Long-term debt: Dollar Term Loan B, due 2027 (1) 1,837.0 1,846.3 Dollar Term Loan, due 2027 (2) 896.8 901.4 Finance leases and other long-term debt 17.8 22.2 Unamortized debt issuance costs (23.2) (21.8) Total long-term debt, net, including current maturities 2,728.4 2,748.1 Current maturities of long-term debt 29.9 32.0 Total long-term debt, net $ 2,698.5 $ 2,716.1 (1) As of June 30, 2023, this amount is presented net of unamortized discounts of $1.3 million. As of June 30, 2023, the applicable interest rate was approximately 7.00% and the weighted-average interest rate was 6.59% for the six month period ended June 30, 2023. (2) As of June 30, 2023, this amount is presented net of unamortized discounts of $0.6 million. As of June 30, 2023, the applicable interest rate was approximately 7.00% and the weighted average interest rate was 6.59% for the six month period ended June 30, 2023.

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	A summary of the Company’s stock option (including SARs) activity for the six month period ended June 30, 2023 is presented in the following table (underlying shares in thousands). Shares Weighted-Average Exercise Price (per share) Stock options outstanding as of December 31, 2022 6,383 $ 25.22 Granted 744 57.90 Exercised or settled (832) 19.44 Forfeited (83) 48.97 Expired (1) 39.15 Stock options outstanding as of June 30, 2023 6,211 29.58 Vested as of June 30, 2023 4,426 21.36
Schedule of Stock Option Fair Value Assumptions	The following assumptions were used to estimate the fair value of options granted during the six month periods ended June 30, 2023 and 2022 using the Black-Scholes option-pricing model. For the Six Month Period Ended June 30, Assumptions 2023 2022 Expected life of options (in years) 6.3 - 7.5 6.3 Risk-free interest rate 3.8% - 4.1% 1.9% - 3.1% Assumed volatility 36.4% - 36.6% 37.1% - 38.3% Expected dividend rate 0.1 % 0.2 %
Schedule of Restricted Stock Unit Activity	A summary of the Company’s restricted stock unit activity for the six month period ended June 30, 2023 is presented in the following table (underlying shares in thousands). Shares Weighted-Average Grant-Date Fair Value Non-vested as of December 31, 2022 1,005 $ 43.50 Granted 378 57.90 Vested (342) 37.16 Forfeited (50) 50.45 Non-vested as of June 30, 2023 991 50.82
Schedule of Performance Stock Unit Activity	A summary of the Company’s performance stock unit activity for the six month period ended June 30, 2023 is presented in the following table (underlying shares in thousands). Shares Weighted-Average Grant-Date Fair Value Non-vested as of December 31, 2022 1,539 $ 44.99 Granted 149 75.52 Change in units based on performance 222 29.72 Vested (444) 29.72 Forfeited (43) 61.93 Non-vested as of June 30, 2023 1,423 50.05
Schedule of Performance Share Units Fair Value Assumptions	The following assumptions were used to estimate the fair value of performance share units granted during the six month periods ended June 30, 2023 and 2022 using the Monte Carlo simulation pricing model. For the Six Month Period Ended June 30, Assumptions 2023 2022 Expected term (in years) 2.9 2.9 Risk-free interest rate 4.4% 1.7 % Assumed volatility 31.8% 36.4 % Expected dividend rate 0.1 % 0.2 %

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Before Tax Income (Loss) and Related Income Tax Effect	The before tax income (loss) and related income tax effect are as follows. For the Three Month Period Ended June 30, 2023 2022 Before-Tax Amount Tax Benefit or (Expense) Net of Tax Amount Before-Tax Amount Tax Benefit or (Expense) Net of Tax Amount Foreign currency translation adjustments, net $ (46.6) $ — $ (46.6) $ (183.4) $ (28.7) $ (212.1) Unrecognized gains (losses) on cash flow hedges 14.6 (3.7) 10.9 (6.3) 0.9 (5.4) Pension and other postretirement benefit prior service cost and gain or loss, net (1.5) 0.4 (1.1) (2.6) 0.6 (2.0) Other comprehensive loss $ (33.5) $ (3.3) $ (36.8) $ (192.3) $ (27.2) $ (219.5) For the Six Month Period Ended June 30, 2023 2022 Before-Tax Amount Tax Benefit or (Expense) Net of Tax Amount Before-Tax Amount Tax Benefit or (Expense) Net of Tax Amount Foreign currency translation adjustments, net $ (0.4) $ (15.4) $ (15.8) $ (205.1) $ (35.8) $ (240.9) Unrecognized gains (losses) on cash flow hedges 7.5 (1.9) 5.6 (6.3) 0.9 (5.4) Pension and other postretirement benefit prior service cost and gain or loss, net (1.7) 0.4 (1.3) (4.1) 1.0 (3.1) Other comprehensive loss $ 5.4 $ (16.9) $ (11.5) $ (215.5) $ (33.9) $ (249.4)
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	Changes in accumulated other comprehensive loss by component for the six month periods ended June 30, 2023 and 2022 are presented in the following table net of tax. Foreign Currency Translation Adjustments, Net Cash Flow Hedges Pension and Other Postretirement Benefit Plans Total Balance as of December 31, 2022 $ (282.8) $ 16.0 $ 15.1 $ (251.7) Other comprehensive income (loss) before reclassifications (8.2) 10.1 (0.1) 1.8 Amounts reclassified from accumulated other comprehensive loss (7.6) (4.5) (1.2) (13.3) Other comprehensive income (loss) (15.8) 5.6 (1.3) (11.5) Balance as of June 30, 2023 $ (298.6) $ 21.6 $ 13.8 $ (263.2) Foreign Currency Translation Adjustments, Net Cash Flow Hedges Pension and Other Postretirement Benefit Plans Total Balance as of December 31, 2021 $ (29.9) $ — $ (11.7) $ (41.6) Other comprehensive loss before reclassifications (240.8) (5.5) (2.6) (248.9) Amounts reclassified from accumulated other comprehensive loss (0.1) 0.1 (0.5) (0.5) Other comprehensive loss (240.9) (5.4) (3.1) (249.4) Balance as of June 30, 2022 $ (270.8) $ (5.4) $ (14.8) $ (291.0)
Schedule of Reclassification out of Accumulated Other Comprehensive Loss	Reclassifications out of accumulated other comprehensive loss for the six month periods ended June 30, 2023 and 2022 are presented in the following table. Amount Reclassified from Accumulated Other Comprehensive Loss Details about Accumulated Other Comprehensive Loss Components For the Six Month Period Ended June 30, Affected Line(s) in the Statement Where Net Income is Presented 2023 2022 Cash flow hedges (interest rate swaps and caps) $ (6.0) $ 0.1 Interest expense Provision for income taxes 1.5 — Provision for income taxes Cash flow hedges (interest rate swaps and caps), net of tax $ (4.5) $ 0.1 Net investment hedges $ (10.2) $ (0.1) Interest expense Provision for income taxes 2.6 — Provision for income taxes Net investment hedges, net of tax $ (7.6) $ (0.1) Amortization of defined benefit pension and other postretirement benefit items (1) $ (1.6) $ (0.7) Cost of sales and Selling and administrative expenses Provision for income taxes 0.4 0.2 Provision for income taxes Amortization of defined benefit pension and other postretirement benefit items, net of tax $ (1.2) $ (0.5) Total reclassifications for the period, net of tax $ (13.3) $ (0.5) (1) These components are included in the computation of net periodic benefit cost. See Note 9 “ Benefit Plans ” for additional details.

Hedging Activities and Deriva_2

Hedging Activities and Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table summarizes the notional amounts, fair values and classification of the Company’s outstanding derivatives by risk category and instrument type within the Condensed Consolidated Balance Sheets as of June 30, 2023 and December 31, 2022. June 30, 2023 Derivative Classification Notional Amount (1) Fair Value (1) Other Current Assets Fair Value (1) Other Assets Fair Value (1) Accrued Liabilities Fair Value (1) Other Liabilities Derivatives Designated as Hedging Instruments Interest rate swap contracts Cash flow $ 528.5 $ 11.1 $ 5.4 $ — $ — Interest rate cap contracts Cash flow 1,000.0 13.0 8.0 — — Cross-currency interest rate swap contracts Net investment 1,054.2 15.6 — — 48.8 Derivatives Not Designated as Hedging Instruments Foreign currency forwards Fair value $ 7.3 $ — $ — $ — $ — Foreign currency forwards Fair value 1.7 — — — — December 31, 2022 Derivative Classification Notional Amount (1) Fair Value (1) Other Current Assets Fair Value (1) Other Assets Fair Value (1) Accrued Liabilities Fair Value (1) Other Liabilities Derivatives Designated as Hedging Instruments Interest rate swap contracts Cash Flow $ 528.5 $ 8.8 $ 5.3 $ — $ — Interest rate cap contracts Cash flow 1,000.0 8.3 9.8 — — Cross-currency interest rate swap contracts Net investment 1,054.2 17.7 — — 28.7 Derivatives Not Designated as Hedging Instruments Foreign currency forwards Fair Value $ 7.3 $ — $ — $ — $ — Foreign currency forwards Fair Value 15.8 — — — — (1) Notional amounts represent the gross contract amounts of the outstanding derivatives excluding the total notional amount of positions that have been effectively closed through offsetting positions. The net gains and net losses associated with positions that have been effectively closed through offsetting positions but not yet settled are included in the asset and liability derivatives fair value columns, respectively.
Schedule of Cash Flow Hedges included in Accumulated Other Comprehensive Income (Loss)	Gains (losses) on derivatives designated as cash flow hedges included in the Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six month periods ended June 30, 2023 and 2022 are as presented in the table below. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Gain (loss) recognized in OCI on derivatives $ 18.6 $ (6.6) $ 13.5 $ (6.6) Gain (loss) reclassified from AOCI into income (effective portion) (1) 4.0 (0.1) 6.0 (0.1) (1) Losses on derivatives reclassified from AOCI into income were included within “Interest expense” in the Condensed Consolidated Statements of Operations.
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)	Gains (losses) on derivatives designated as net investment hedges included in the Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six month periods ended June 30, 2023 and 2022 are as presented in the table below. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Gain (loss) recognized in OCI on derivatives $ (6.6) $ 6.0 $ (12.1) $ 6.0 Gain reclassified from AOCI into income (effective portion) (1) 4.8 0.1 10.2 0.1 (1) Gains on derivatives reclassified from AOCI into income were included within “Interest expense” in the Condensed Consolidated Statements of Operations.
Schedule of Gains (Losses) on Derivative Instruments Not Designated as Accounting Hedges and Total Net Foreign Currency Losses	The Company’s gains (losses) on derivative instruments not designated as accounting hedges and total net foreign currency losses for the three and six month periods ended June 30, 2023 and 2022 were as follows. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Foreign currency forward contracts gains $ — $ 4.1 $ 0.2 $ 3.1 Total foreign currency transaction gains, net 1.1 1.8 0.1 5.6

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022. June 30, 2023 Level 1 Level 2 Level 3 Total Financial Assets Trading securities held in deferred compensation plan (1) $ 15.3 $ — $ — $ 15.3 Interest rate swaps (2) — 16.5 — 16.5 Interest rate caps (3) — 21.0 — 21.0 Cross-currency interest rate swaps (4) — 15.6 — 15.6 Foreign currency forwards (5) — — — — Total $ 15.3 $ 53.1 $ — $ 68.4 Financial Liabilities Deferred compensation plans (1) $ 21.9 $ — $ — $ 21.9 Cross-currency interest rate swaps (4) — 48.8 — 48.8 Contingent consideration (6) — — 62.5 62.5 Foreign currency forwards (5) — — — — Total $ 21.9 $ 48.8 $ 62.5 $ 133.2 December 31, 2022 Level 1 Level 2 Level 3 Total Financial Assets Trading securities held in deferred compensation plan (1) $ 12.3 $ — $ — $ 12.3 Interest rate swaps (2) — 14.1 — 14.1 Interest rate caps (3) — 18.1 — 18.1 Cross-currency interest rate swaps (4) — 17.7 — 17.7 Foreign currency forwards (5) — — — — Total $ 12.3 $ 49.9 $ — $ 62.2 Financial Liabilities Deferred compensation plan (1) $ 19.6 $ — $ — $ 19.6 Cross-currency interest rate swaps (4) — 28.7 — 28.7 Contingent consideration (6) — — 43.9 43.9 Foreign currency forwards (5) — — — — Total $ 19.6 $ 28.7 $ 43.9 $ 92.2 (1) Based on the quoted price of publicly traded mutual funds and other equity securities which are classified as trading securities and accounted for using the mark-to-market method. (2) Measured as the present value of all expected future cash flows based on the SOFR-based swap yield curves as of June 30, 2023. The present value calculation uses discount rates that have been adjusted to reflect the credit quality of the Company and its counterparties. (3) Measured as the present value of all expected future cash flows that would occur if variable interest rates rise above the strike rate of the caps. The variable interest rates used in the calculation of projected receipts on the cap are based on an expectation of future interest rates derived from observable market volatilities and interest rate curves. (4) Measured as the present value of all expected future cash flows on each leg of the contracts. The model utilizes inputs of observable market data including interest yield curves and foreign currency exchange rates. The present value calculation uses cross-currency basis-adjusted discount factors that have been adjusted to reflect the credit quality of the Company and its counterparties. (5) Based on calculations that use readily observable market parameters at their basis, such as spot and forward rates. (6) Measured as the present value of expected consideration payable for completed acquisitions, generally derived using probability-weighted analysis of achieving projected revenue or EBITDA targets.
Reconciliation of Contingent Consideration	The following table provides a reconciliation of the activity for contingent consideration for the three and six month period ended June 30, 2023. For the Three Month Period Ended For the Six Month Period Ended Balance at beginning of the period $ 48.4 $ 43.9 Acquisitions 12.8 12.8 Changes in fair value 4.1 8.4 Payments (3.1) (3.1) Foreign currency translation 0.3 0.5 Balance at end of the period $ 62.5 $ 62.5

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue by Segment	The following tables provide disaggregated revenue by reportable segment for the three and six month periods ended June 30, 2023 and 2022. Industrial Technologies and Services Precision and Science Technologies Total Three Month Period Ended June 30, 2023 2022 2023 2022 2023 2022 Primary Geographic Markets United States $ 556.8 $ 468.9 $ 140.8 $ 135.7 $ 697.6 $ 604.6 Other Americas 88.0 81.0 7.1 6.9 95.1 87.9 Total Americas 644.8 549.9 147.9 142.6 792.7 692.5 EMEIA 428.5 343.3 113.9 105.2 542.4 448.5 Asia Pacific 305.1 257.3 46.3 41.6 351.4 298.9 Total $ 1,378.4 $ 1,150.5 $ 308.1 $ 289.4 $ 1,686.5 $ 1,439.9 Product Categories Original equipment $ 843.2 $ 697.8 $ 244.5 $ 234.2 $ 1,087.7 $ 932.0 Aftermarket 535.2 452.7 63.6 55.2 598.8 507.9 Total $ 1,378.4 $ 1,150.5 $ 308.1 $ 289.4 $ 1,686.5 $ 1,439.9 Pattern of Revenue Recognition Revenue recognized at point in time (1) $ 1,266.2 $ 1,065.9 $ 306.1 $ 288.7 $ 1,572.3 $ 1,354.6 Revenue recognized over time (2) 112.2 84.6 2.0 0.7 114.2 85.3 Total $ 1,378.4 $ 1,150.5 $ 308.1 $ 289.4 $ 1,686.5 $ 1,439.9 Industrial Technologies and Services Precision and Science Technologies Total Six Month Period Ended June 30, 2023 2022 2023 2022 2023 2022 Primary Geographic Markets United States $ 1,108.0 $ 883.7 $ 285.0 $ 270.0 $ 1,393.0 $ 1,153.7 Other Americas 178.9 154.3 14.4 15.4 193.3 169.7 Total Americas 1,286.9 1,038.0 299.4 285.4 1,586.3 1,323.4 EMEIA 854.5 675.1 227.3 214.9 1,081.8 890.0 Asia Pacific 554.2 477.0 93.5 86.5 647.7 563.5 Total $ 2,695.6 $ 2,190.1 $ 620.2 $ 586.8 $ 3,315.8 $ 2,776.9 Product Categories Original equipment $ 1,633.3 $ 1,312.0 $ 489.8 $ 473.2 $ 2,123.1 $ 1,785.2 Aftermarket 1,062.3 878.1 130.4 113.6 1,192.7 991.7 Total $ 2,695.6 $ 2,190.1 $ 620.2 $ 586.8 $ 3,315.8 $ 2,776.9 Pattern of Revenue Recognition Revenue recognized at point in time (1) $ 2,486.7 $ 2,022.5 $ 617.3 $ 584.2 $ 3,104.0 $ 2,606.7 Revenue recognized over time (2) 208.9 167.6 2.9 2.6 211.8 170.2 Total $ 2,695.6 $ 2,190.1 $ 620.2 $ 586.8 $ 3,315.8 $ 2,776.9 (2) Revenues primarily from long duration ETO product contracts and certain contracts for delivery of a significant volume of substantially similar products recognized over time as contractual performance obligations are completed.
Schedule of Contract Balances	The following table provides the contract balances as of June 30, 2023 and December 31, 2022 presented in the Condensed Consolidated Balance Sheets. June 30, 2023 December 31, 2022 Accounts receivable, net $ 1,219.8 $ 1,122.0 Contract assets 48.5 70.6 Contract liabilities - current 339.2 305.6 Contract liabilities - noncurrent 1.1 1.1

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes and Effective Income Tax Rate	The following table summarizes the Company’s provision for income taxes and effective income tax provision rate for the three and six month periods ended June 30, 2023 and 2022. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Income before income taxes $ 238.9 $ 180.5 $ 449.9 $ 323.1 Provision for income taxes $ 60.5 $ 41.9 $ 108.6 $ 74.3 Effective income tax provision rate 25.3 % 23.2 % 24.1 % 23.0 %

Other Operating Expense, Net (T

Other Operating Expense, Net (Tables)	6 Months Ended
	Jun. 30, 2023
Other Income and Expenses [Abstract]
Schedule of Other Operating Expense, Net	The components of “Other operating expense, net” for the three and six month periods ended June 30, 2023 and 2022 were as follows. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Foreign currency transaction gains, net $ (1.1) $ (1.8) $ (0.1) $ (5.6) Restructuring charges, net (1) 5.2 8.9 8.1 21.4 Acquisition and other transaction related expenses (2) 12.8 5.4 28.0 12.9 Other, net 2.9 0.7 4.2 1.9 Total other operating expense, net $ 19.8 $ 13.2 $ 40.2 $ 30.6 (1) See Note 4 “ Restructuring .” (2) Represents costs associated with successful and abandoned acquisitions, including third-party expenses and post-closure integration costs.

Segment Results (Tables)

Segment Results (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Results	The following table provides summarized information about the Company’s operations by reportable segment and reconciles Segment Adjusted EBITDA to Income from Continuing Operations Before Income Taxes for the three and six month periods ended June 30, 2023 and 2022. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Revenue Industrial Technologies and Services $ 1,378.4 $ 1,150.5 $ 2,695.6 $ 2,190.1 Precision and Science Technologies 308.1 289.4 620.2 586.8 Total Revenue $ 1,686.5 $ 1,439.9 $ 3,315.8 $ 2,776.9 Segment Adjusted EBITDA Industrial Technologies and Services $ 377.5 $ 292.0 $ 723.1 $ 539.4 Precision and Science Technologies 90.0 77.7 184.5 162.8 Total Segment Adjusted EBITDA $ 467.5 $ 369.7 $ 907.6 $ 702.2 Less items to reconcile Segment Adjusted EBITDA to Income from Continuing Operations Before Income Taxes: Corporate expenses not allocated to segments $ 42.8 $ 34.8 $ 82.8 $ 63.7 Interest expense 40.8 23.2 79.7 42.2 Depreciation and amortization expense (a) 111.0 103.7 224.1 211.2 Restructuring and related business transformation costs (b) 5.9 9.5 10.2 23.7 Acquisition and other transaction related expenses and non-cash charges (c) 13.8 5.4 31.8 14.9 Stock-based compensation 11.9 22.4 24.0 42.2 Foreign currency transaction gains, net (1.1) (1.8) (0.1) (5.6) Loss on extinguishment of debt 0.9 1.1 0.9 1.1 Adjustments to LIFO inventories 6.5 — 14.3 — Cybersecurity incident costs (d) 2.2 — 2.2 — Other adjustments (e) (6.1) (9.1) (12.2) (14.3) Income from Continuing Operations Before Income Taxes 238.9 180.5 449.9 323.1 Provision for income taxes 60.5 41.9 108.6 74.3 Income (loss) on equity method investments 2.4 (0.8) 2.7 (5.1) Income from Continuing Operations 180.8 137.8 344.0 243.7 Income from discontinued operations, net of tax — 1.5 — 0.1 Net Income $ 180.8 $ 139.3 $ 344.0 $ 243.8 a) Depreciation and amortization expense excludes $0.8 million and $0.8 million of depreciation of rental equipment for the three month periods ended June 30, 2023 and 2022, respectively, and excludes $1.7 million and $1.8 million for the six month periods ended June 30, 2023 and 2022, respectively. b) Restructuring and related business transformation costs consist of the following. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Restructuring charges $ 5.2 $ 8.9 $ 8.1 $ 21.4 Facility reorganization, relocation and other costs 0.7 0.6 2.1 2.3 Total restructuring and related business transformation costs $ 5.9 $ 9.5 $ 10.2 $ 23.7 c) Represents costs associated with successful and abandoned acquisitions, including third-party expenses, post-closure integration costs and non-cash charges and credits arising from fair value purchase accounting adjustments. d) Represents non-recoverable costs associated with a cybersecurity event. e) Includes (i) pension and other postemployment plan costs other than service cost, (ii) interest income on cash and cash equivalents and (iii) other miscellaneous adjustments.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	The number of weighted-average shares outstanding used in the computations of basic and diluted earnings per share are as follows. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2023 2022 2023 2022 Average shares outstanding Basic 404.5 404.5 404.8 406.1 Diluted 408.3 409.4 408.8 411.2

Basis of Presentation and Rec_3

Basis of Presentation and Recent Accounting Pronouncements (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Supplier finance program, obligation	$ 22.8	$ 9.7

Discontinued Operations (Detail

Discontinued Operations (Details) $ in Millions		3 Months Ended		6 Months Ended
	Feb. 14, 2021 USD ($)	Jun. 30, 2023 USD ($) business	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) business	Jun. 30, 2022 USD ($)	Apr. 09, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses that comprise discontinued operations | business		2		2
Income from discontinued operations, net of tax		$ 0	$ 1.5	$ 0	$ 0.1
Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income from discontinued operations, net of tax			$ 1.5		$ 0.1
Discontinued Operations, Disposed of by Sale | Specialty Vehicle Technologies Segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration for sale of business						$ 1,680
Discontinued Operations, Disposed of by Sale | High Pressure Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash consideration for sale of business	$ 278.3
Majority interest sold (as a percent)	55%
Common equity interest retained after disposal (as a percent)	45%

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) - USD ($) $ in Millions

3 Months Ended

6 Months Ended

12 Months Ended

Apr. 01, 2023

Feb. 01, 2023

Jan. 03, 2023

Dec. 01, 2022

Nov. 01, 2022

Oct. 01, 2022

Sep. 01, 2022

Feb. 01, 2022

Jun. 30, 2023

Jun. 30, 2022

Jun. 30, 2023

Jun. 30, 2022

Dec. 31, 2022

Air Treatment

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 519

Expected tax deductible amount of goodwill acquired

$ 0

$ 0

Paragon Tank Truck Equipment

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 42.2

EcoPlant Technological Innovation Ltd

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 29.7

Contingent consideration

$ 17

Series of Individually Immaterial Business Acquisitions

Business Acquisition [Line Items]

Purchase consideration

21.2

$ 19.9

Total

Business Acquisition [Line Items]

Revenue from acquisition date

60.6

109

Operating income from acquisition date

3.7

6.9

Jorc

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 30.2

Westwood Technical Limited

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 8.1

Contingent consideration

9.3

Holtec Gas Systems LLC

Business Acquisition [Line Items]

Cash consideration for acquisition

13

Hydro Prokav Pumps (India) Private Limited

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 14

Dosatron International L.L.C

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 89.5

Contingent consideration

$ 14.7

Pedro Gil Construcciones Mecanicas, S.L.

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 18.4

Everest Blower Systems Private Limited

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 75.3

Contingent consideration

$ 12.1

MD Pneumatics and Kinney Vacuum Pumps and All Others

Business Acquisition [Line Items]

Revenue from acquisition date

30.7

$ 5.1

64.1

$ 9.1

Operating income from acquisition date

$ 3.8

$ 1.3

$ 9.2

$ 2

Acquisitions - Business Acquisi

Acquisitions - Business Acquisitions by Acquisition, Consideration (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Business Acquisition [Line Items]
Goodwill	$ 6,427.2	$ 6,064.2
Air Treatment
Business Acquisition [Line Items]
Accounts receivable	26.1
Inventories	43.9
Other current assets	2.2
Property, plant and equipment	18.4
Goodwill	276.7
Other intangible assets	238.6
Other assets	24.1
Total current liabilities	(35.6)
Deferred tax liabilities	(68.5)
Other noncurrent liabilities	(6.9)
Total consideration	519
All Others
Business Acquisition [Line Items]
Accounts receivable	5.9		$ 16.2
Inventories	12.5		20.4
Other current assets	0.5		1.3
Property, plant and equipment	2.7		8.9
Goodwill	75.2		151.9
Other intangible assets	18.4		43
Other assets	0		0.9
Total current liabilities	(6.5)		(30.7)
Deferred tax liabilities	0		(9.7)
Other noncurrent liabilities	(2.8)		(1.9)
Total consideration	105.9		200.3
Total
Business Acquisition [Line Items]
Accounts receivable	32
Inventories	56.4
Other current assets	2.7
Property, plant and equipment	21.1
Goodwill	351.9
Other intangible assets	257
Other assets	24.1
Total current liabilities	(42.1)
Deferred tax liabilities	(68.5)
Other noncurrent liabilities	(9.7)
Total consideration	$ 624.9
Dosatron International
Business Acquisition [Line Items]
Accounts receivable			1.8
Inventories			6.2
Other current assets			0.1
Property, plant and equipment			0.3
Goodwill			57.4
Other intangible assets			41.9
Other assets			13.8
Total current liabilities			(3.5)
Deferred tax liabilities			(13.8)
Other noncurrent liabilities			0
Total consideration			104.2
Total
Business Acquisition [Line Items]
Accounts receivable			18
Inventories			26.6
Other current assets			1.4
Property, plant and equipment			9.2
Goodwill			209.3
Other intangible assets			84.9
Other assets			14.7
Total current liabilities			(34.2)
Deferred tax liabilities			(23.5)
Other noncurrent liabilities			(1.9)
Total consideration			$ 304.5

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		42 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023
Restructuring Costs [Abstract]
Restructuring charges	$ 5.2	$ 8.9	$ 8.1	$ 21.4
Industrial Technologies and Services
Restructuring Costs [Abstract]
Restructuring charges			1.9
Precision and Science Technologies
Restructuring Costs [Abstract]
Restructuring charges			1.4
Restructuring Program 2020 to 2023
Restructuring Costs [Abstract]
Restructuring charges	5.2	8.9	8.1	21.4	$ 130.5
Restructuring Program 2020 to 2023 | Corporate
Restructuring Costs [Abstract]
Restructuring charges	0	(0.3)	0.2	1	11.5
Restructuring Program 2020 to 2023 | Industrial Technologies and Services
Restructuring Costs [Abstract]
Restructuring charges	3.8	8.7	6.9	12.3	103.8
Restructuring Program 2020 to 2023 | Precision and Science Technologies
Restructuring Costs [Abstract]
Restructuring charges	$ 1.4	$ 0.5	$ 1	$ 8.1	$ 15.2

Restructuring - Restructuring C

Restructuring - Restructuring Charges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		42 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 5.2	$ 8.9	$ 8.1	$ 21.4
Industrial Technologies and Services
Restructuring Cost and Reserve [Line Items]
Restructuring charges			1.9
Precision and Science Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring charges			1.4
Restructuring Program 2020 to 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	5.2	8.9	8.1	21.4	$ 130.5
Restructuring Program 2020 to 2023 | Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	(0.3)	0.2	1	11.5
Restructuring Program 2020 to 2023 | Industrial Technologies and Services
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3.8	8.7	6.9	12.3	103.8
Restructuring Program 2020 to 2023 | Precision and Science Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 1.4	$ 0.5	$ 1	$ 8.1	$ 15.2

Restructuring - Activity in Res

Restructuring - Activity in Restructuring Programs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restructuring Reserve [Roll Forward]
Balance at beginning of period	$ 13.4	$ 16.9	$ 14.9	$ 12.3
Charged to expense - termination benefits	2.4	4.2	3.3	12.5
Charged to expense - other	1.8	2.1	2.9	4.1
Payments	(7.2)	(3.3)	(10.8)	(8.2)
Currency translation adjustment and other	0.1	(1.9)	0.2	(2.7)
Balance at end of period	10.5	18	10.5	18
Restructuring Program 2020 to 2023 | Other Operating Expense, Net
Restructuring Reserve [Roll Forward]
Non-cash charges	$ 1	$ 2.6	$ 1.9	$ 4.8

Allowance for Credit Losses (De

Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of the period	$ 51	$ 43.7	$ 47.2	$ 42.3
Provision charged to expense	2.2	4.7	6.2	6.7
Write-offs, net of recoveries	(1.3)	(1)	(1.7)	(1.5)
Foreign currency translation and other	(0.7)	(2.2)	(0.5)	(2.3)
Balance at end of the period	$ 51.2	$ 45.2	$ 51.2	$ 45.2

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Inventory, Net [Abstract]
Raw materials, including parts and subassemblies	$ 674.1	$ 625
Work-in-process	147.3	122.2
Finished goods	354.7	338.7
Gross inventories	1,176.1	1,085.9
LIFO reserve	(74.8)	(60.5)
Inventories	$ 1,101.3	$ 1,025.4

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill by Segment (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 6,064.2
Acquisitions	351.9
Foreign currency translation and other	11.1
Balance at end of period	6,427.2
Industrial Technologies and Services
Goodwill [Roll Forward]
Balance at beginning of period	4,222.5
Acquisitions	349.5
Foreign currency translation and other	7.7
Balance at end of period	4,579.7
Precision and Science Technologies
Goodwill [Roll Forward]
Balance at beginning of period	1,841.7
Acquisitions	2.4
Foreign currency translation and other	3.4
Balance at end of period	$ 1,847.5

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Industrial Technologies and Services
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Accumulated impairment on goodwill	$ 220.6	$ 220.6

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Amortized intangible assets
Accumulated Amortization	$ (1,711.3)	$ (1,526.8)
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	5,371.1	5,105.4
Accumulated Amortization	(1,711.3)	(1,526.8)
Net Carrying Amount	3,659.8	3,578.6
Tradenames
Unamortized intangible assets
Carrying amount	1,611.1	1,555.5
Customer lists and relationships
Amortized intangible assets
Gross Carrying Amount	3,191.6	3,029
Accumulated Amortization	(1,430.7)	(1,286.1)
Net Carrying Amount	1,760.9	1,742.9
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(1,430.7)	(1,286.1)
Technology
Amortized intangible assets
Gross Carrying Amount	393.3	360
Accumulated Amortization	(150.8)	(124.5)
Net Carrying Amount	242.5	235.5
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(150.8)	(124.5)
Tradenames
Amortized intangible assets
Gross Carrying Amount	51.8	46.2
Accumulated Amortization	(25.4)	(22.7)
Net Carrying Amount	26.4	23.5
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(25.4)	(22.7)
Backlog
Amortized intangible assets
Gross Carrying Amount	8	1
Accumulated Amortization	(4.8)	(0.3)
Net Carrying Amount	3.2	0.7
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(4.8)	(0.3)
Other
Amortized intangible assets
Gross Carrying Amount	115.3	113.7
Accumulated Amortization	(99.6)	(93.2)
Net Carrying Amount	15.7	20.5
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (99.6)	$ (93.2)

Accrued Liabilities - Accrued L

Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Accrued Liabilities [Abstract]
Salaries, wages and related fringe benefits	$ 200.6		$ 223.3
Contract liabilities	339.2		305.6
Product warranty	57.4	$ 54.1	46.2	$ 43.1	$ 42.5	$ 42.5
Operating lease liabilities	39.8		39.6
Restructuring	10.5		14.9
Taxes	88		63.3
Other	188.1		165.9
Total accrued liabilities	$ 923.6		$ 858.8
Operating lease, liability, current, statement of financial position	Total accrued liabilities		Total accrued liabilities

Accrued Liabilities - Accrued P

Accrued Liabilities - Accrued Product Warranty Liability (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 54.1	$ 42.5	$ 46.2	$ 42.5
Product warranty accruals	15.8	5.2	24.7	9.4
Acquired warranty	0	0	1.4	0
Settlements	(11)	(3.5)	(14.9)	(7.3)
Foreign currency translation and other	(1.5)	(1.1)	0	(1.5)
Balance at end of period	$ 57.4	$ 43.1	$ 57.4	$ 43.1

Benefit Plans (Details)

Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pension Benefits | U.S. Plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 0	$ 1	$ 0	$ 2.1
Interest cost	3.9	2.9	7.9	5.7
Expected return on plan assets	(3.4)	(3.3)	(6.7)	(6.5)
Recognition of:
Unrecognized prior service cost	0	0	0	0
Unrecognized net actuarial loss	0.1	0	0.1	0
Total recognized in other comprehensive (loss) income	0.6	0.6	1.3	1.3
Gain on settlement	(0.6)	0	(0.6)	(0.9)
Total recognized in other comprehensive (loss) income	0	0.6	0.7	0.4
Pension Benefits | Non-U.S. Plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	0.6	0.8	1.2	1.7
Interest cost	2.8	1.5	5.5	3.1
Expected return on plan assets	(2.7)	(3)	(5.4)	(6.2)
Recognition of:
Unrecognized prior service cost	0.1	0.1	0.1	0.1
Unrecognized net actuarial loss	(0.5)	0	(0.9)	0.1
Total recognized in other comprehensive (loss) income	0.3	(0.6)	0.5	(1.2)
Gain on settlement	0	0	0	0
Total recognized in other comprehensive (loss) income	0.3	(0.6)	0.5	(1.2)
Other Postretirement Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	0	0	0	0
Interest cost	0.3	0.1	0.5	0.3
Expected return on plan assets	0	0	0	0
Recognition of:
Unrecognized prior service cost	0	0	0	0
Unrecognized net actuarial loss	(0.2)	0	(0.3)	0
Total recognized in other comprehensive (loss) income	0.1	0.1	0.2	0.3
Gain on settlement	0	0	0	0
Total recognized in other comprehensive (loss) income	$ 0.1	$ 0.1	$ 0.2	$ 0.3

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Debt [Abstract]
Short-term borrowings	$ 1.4	$ 4.5
Long-term debt:
Finance leases and other long-term debt	17.8	22.2
Unamortized debt issuance costs	(23.2)	(21.8)
Total long-term debt, net, including current maturities	2,728.4	2,748.1
Current maturities of long-term debt	29.9	32
Total long-term debt, net	2,698.5	2,716.1
Dollar Term Loan B, due 2027
Long-term debt:
Long-term debt, gross	1,837	1,846.3
Unamortized discounts	$ 1.3
Stated interest rate of debt instrument (as a percent)	7%
Weighted-average interest rate of debt instrument (as a percent)	6.59%
Dollar Term Loan, Due 2027
Long-term debt:
Long-term debt, gross	$ 896.8	$ 901.4
Unamortized discounts	$ 0.6
Stated interest rate of debt instrument (as a percent)	7%
Weighted-average interest rate of debt instrument (as a percent)	6.59%

Debt - Narrative (Details)

Debt - Narrative (Details) - Revolving Credit Facility - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Apr. 21, 2023	Mar. 31, 2023
Debt Instrument [Line Items]
Unused borrowing capacity	$ 2,000	$ 2,000	$ 1,100
Unamortized debt issuance costs	0.9
Long-term debt	2,000
Letters of credit outstanding	0
Outstanding borrowings	0
Ingersoll Rand
Debt Instrument [Line Items]
Letters of credit outstanding	$ 400

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2022	Sep. 30, 2020	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 136.8				$ 136.8
Grant date and recognized in compensation expense over		4 years 3 months 18 days
Continuing Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 11.9		$ 22.4		24	$ 42.2
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting/performance period				2 years
Equity Awards | Continuing Operations | 2013 Stock Incentive Plan and 2017 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense					23.4
Stock Appreciation Rights (SARs) | Continuing Operations | 2013 Stock Incentive Plan and 2017 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Increase in liabilities					$ 0.6
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock for stock-based compensation plans (in shares)		400,000
Award expiration period					10 years
Stock Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting/performance period					4 years
Stock Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting/performance period					5 years
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting/performance period		5 years			3 years	3 years
Volume-weighted average closing		60 days
Closing price per share (in usd per share)		$ 81.85

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans - Stock Option Awards (Details) - Stock Options shares in Thousands	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Stock Option Awards shares
Balance at beginning of period (in shares) | shares	6,383
Granted (in shares) | shares	744
Exercised or settled (in shares) | shares	(832)
Forfeited (in shares) | shares	(83)
Expired (in shares) | shares	(1)
Balance at end of period (in shares) | shares	6,211
Vested (in shares) | shares	4,426
Weighted-Average Exercise Price (per share)
Balance at beginning of period (in usd per share) | $ / shares	$ 25.22
Granted (in usd per share) | $ / shares	57.90
Exercised or settled (in usd per share) | $ / shares	19.44
Forfeited (in usd per share) | $ / shares	48.97
Expired (in usd per share) | $ / shares	39.15
Balance at end of period (in usd per share) | $ / shares	29.58
Vested (in usd per share) | $ / shares	$ 21.36

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans - Assumptions Used to Estimate Fair Value of Options Granted (Details) - Stock Options	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life of options (in years)		6 years 3 months 18 days
Risk-free interest rate, minimum (as a percent)	3.80%	1.90%
Risk-free interest rate, maximum (as a percent)	4.10%	3.10%
Expected dividend rate (as a percent)	0.10%	0.20%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life of options (in years)	6 years 3 months 18 days
Assumed volatility (as a percent)	36.40%	37.10%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life of options (in years)	7 years 6 months
Assumed volatility (as a percent)	36.60%	38.30%

Stock-Based Compensation Plan_5

Stock-Based Compensation Plans - Restricted Stock Unit Awards (Details) - Restricted Stock Units shares in Thousands	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Restricted Stock Unit Awards Shares
Balance at beginning of period (in shares) | shares	1,005
Granted (in shares) | shares	378
Vested (in shares) | shares	(342)
Forfeited (in shares) | shares	(50)
Balance at end of period (in shares) | shares	991
Weighted-Average Grant-Date Fair Value
Balance at beginning of period (in usd per share) | $ / shares	$ 43.50
Granted (in usd per share) | $ / shares	57.90
Vested (in usd per share) | $ / shares	37.16
Forfeited (in usd per share) | $ / shares	50.45
Balance at end of period (in usd per share) | $ / shares	$ 50.82

Stock-Based Compensation Plan_6

Stock-Based Compensation Plans - Performance Share Unit Awards (Details) - Performance Share Units shares in Thousands	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Performance Share Unit Awards Shares
Balance at beginning of period (in shares) | shares	1,539
Granted (in shares) | shares	149
Change in units based on performance (in shares) | shares	222
Vested (in shares) | shares	(444)
Forfeited (in shares) | shares	(43)
Balance at end of period (in shares) | shares	1,423
Weighted-Average Grant-Date Fair Value
Balance at beginning of period (in usd per share) | $ / shares	$ 44.99
Granted (in usd per share) | $ / shares	75.52
Change in units based on performance (in usd per share) | $ / shares	29.72
Vested (in usd per share) | $ / shares	29.72
Forfeited (in usd per share) | $ / shares	61.93
Balance at end of period (in usd per share) | $ / shares	$ 50.05

Stock-Based Compensation Plan_7

Stock-Based Compensation Plans - Performance Share Unit Fair Value Assumptions (Details) - Performance Share Units	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	2 years 10 months 24 days	2 years 10 months 24 days
Risk-free interest rate (as a percent)	4.40%	1.70%
Assumed volatility (as a percent)	31.80%	36.40%
Expected dividend rate (as a percent)	0.10%	0.20%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Balances (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Before-Tax Amount
Foreign currency translation adjustments, net	$ (46.6)	$ (183.4)	$ (0.4)	$ (205.1)
Unrecognized gains (losses) on cash flow hedges	14.6	(6.3)	7.5	(6.3)
Pension and other postretirement benefit prior service cost and gain or loss, net	(1.5)	(2.6)	(1.7)	(4.1)
Other comprehensive loss	(33.5)	(192.3)	5.4	(215.5)
Tax Benefit or (Expense)
Foreign currency translation adjustments, net	0	(28.7)	(15.4)	(35.8)
Unrecognized gains (losses) on cash flow hedges	(3.7)	0.9	(1.9)	0.9
Pension and other postretirement benefit prior service cost and gain or loss, net	0.4	0.6	0.4	1
Other comprehensive loss	(3.3)	(27.2)	(16.9)	(33.9)
Net of Tax Amount
Foreign currency translation adjustments, net	(46.6)	(212.1)	(15.8)	(240.9)
Unrecognized gains (losses) on cash flow hedges	10.9	(5.4)	5.6	(5.4)
Pension and other postretirement benefit prior service cost and gain or loss, net	(1.1)	(2)	(1.3)	(3.1)
Total other comprehensive loss, net of tax	(36.8)	(219.5)	(11.5)	(249.4)
Other comprehensive income, net of tax [Abstract]
Other comprehensive income (loss), net of tax, attributable to noncontrolling interest	$ (0.1)	$ (4.8)	$ 0.8	$ (4.2)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Changes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 9,381.7	$ 9,063.3	$ 9,257.2	$ 9,071.2
Other comprehensive income (loss)	(36.9)	(224.3)	(10.7)	(253.6)
Balance at end of period	9,480.4	8,844	9,480.4	8,844
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(226.4)	(71.5)	(251.7)	(41.6)
Other comprehensive income (loss) before reclassifications			1.8	(248.9)
Amounts reclassified from accumulated other comprehensive loss			(13.3)	(0.5)
Other comprehensive income (loss)	(36.8)	(219.5)	(11.5)	(249.4)
Balance at end of period	(263.2)	(291)	(263.2)	(291)
Foreign Currency Translation Adjustments, Net
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			(282.8)	(29.9)
Other comprehensive income (loss) before reclassifications			(8.2)	(240.8)
Amounts reclassified from accumulated other comprehensive loss			(7.6)	(0.1)
Other comprehensive income (loss)			(15.8)	(240.9)
Balance at end of period	(298.6)	(270.8)	(298.6)	(270.8)
Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			16	0
Other comprehensive income (loss) before reclassifications			10.1	(5.5)
Amounts reclassified from accumulated other comprehensive loss			(4.5)	0.1
Other comprehensive income (loss)			5.6	(5.4)
Balance at end of period	21.6	(5.4)	21.6	(5.4)
Pension and Other Postretirement Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			15.1	(11.7)
Other comprehensive income (loss) before reclassifications			(0.1)	(2.6)
Amounts reclassified from accumulated other comprehensive loss			(1.2)	(0.5)
Other comprehensive income (loss)			(1.3)	(3.1)
Balance at end of period	$ 13.8	$ (14.8)	$ 13.8	$ (14.8)

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss - Reclassifications out of AOCI (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Interest expense	$ 40.8	$ 23.2	$ 79.7	$ 42.2
Provision for income taxes	60.5	41.9	108.6	74.3
Net income (loss)	$ 179.5	$ 138.5	340.6	242.2
Reclassification out of Accumulated Other Comprehensive Loss
Income Statement [Abstract]
Net income (loss)			(13.3)	(0.5)
Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Loss
Income Statement [Abstract]
Interest expense			(6)	0.1
Provision for income taxes			1.5	0
Net income (loss)			(4.5)	0.1
Net investment hedges | Reclassification out of Accumulated Other Comprehensive Loss
Income Statement [Abstract]
Interest expense			(10.2)	(0.1)
Provision for income taxes			2.6	0
Net income (loss)			(7.6)	(0.1)
Pension and Other Postretirement Benefit Plans | Reclassification out of Accumulated Other Comprehensive Loss
Income Statement [Abstract]
Amortization of defined benefit pension and other postretirement benefit items			(1.6)	(0.7)
Provision for income taxes			0.4	0.2
Net income (loss)			$ (1.2)	$ (0.5)

Hedging Activities and Deriva_3

Hedging Activities and Derivative Instruments - Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($) contract	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) contract	Jun. 30, 2022 USD ($)	Jun. 30, 2023 EUR (€) contract	Jun. 29, 2023 USD ($)	Dec. 31, 2022 USD ($)	Feb. 29, 2020 EUR (€)
Derivatives, Fair Value [Line Items]
Unrecognized gains on cash flow hedges	$ 10,900,000	$ (5,400,000)	$ 5,600,000	$ (5,400,000)
Term Loan Denominated In Euros Due2020
Derivatives, Fair Value [Line Items]
Amount of hedged item | €								€ 601,200,000
Foreign currency forwards
Derivatives, Fair Value [Line Items]
Number of derivatives held | contract	2		2		2
Foreign currency forwards | Minimum
Derivatives, Fair Value [Line Items]
Notional amount of derivative	$ 1,700,000		$ 1,700,000
Foreign currency forwards | Maximum
Derivatives, Fair Value [Line Items]
Term of derivative contract			1 year
Notional amount of derivative	$ 7,300,000		$ 7,300,000
Interest rate swap contracts
Derivatives, Fair Value [Line Items]
Number of derivatives held | contract	2		2		2
Gain , net of income tax, recorded in other comprehensive income		$ 23,100,000		$ 36,400,000
Interest rate swap contracts | Cash flow | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative	$ 528,500,000		$ 528,500,000				$ 528,500,000
Fixed interest rate of derivative (as a percent)	3.20%		3.20%		3.20%
Unrecognized gains on cash flow hedges			$ 11,200,000
Interest rate cap contracts
Derivatives, Fair Value [Line Items]
Number of derivatives held | contract	3		3		3
Interest rate cap contracts | Cash flow | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative	$ 1,000,000,000		$ 1,000,000,000				1,000,000,000
Unrecognized gains on cash flow hedges			$ 7,600,000
Interest rate cap contracts | Cash flow | Derivatives Designated as Hedging Instruments | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Derivatives, Fair Value [Line Items]
Cap interest rate of derivative (as a percent)	4%		4%		4%
Cross-currency interest rate swap contracts
Derivatives, Fair Value [Line Items]
Number of derivatives held | contract	2		2		2
Cross-currency interest rate swap contracts | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Derivatives, Fair Value [Line Items]
Number of derivatives held | contract	3		3		3
Cross-currency interest rate swap contracts | Net investment | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative	$ 1,054,200,000		$ 1,054,200,000		€ 500,000,000	$ 528,500,000	$ 1,054,200,000
Fixed interest rate of derivative (as a percent)	1.60%		1.60%		1.60%	3.20%
Cross-currency interest rate swap contracts | Net investment | Derivatives Designated as Hedging Instruments | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Derivatives, Fair Value [Line Items]
Notional amount of derivative	$ 525,700,000		$ 525,700,000		€ 500,000,000

Hedging Activities and Deriva_4

Hedging Activities and Derivative Instruments - Balance Sheets (Details)	Jun. 30, 2023 USD ($)	Jun. 30, 2023 EUR (€)	Jun. 29, 2023 USD ($)	Dec. 31, 2022 USD ($)
Cash flow | Derivatives Designated as Hedging Instruments | Interest rate swap contracts
Derivatives, Fair Value [Line Items]
Notional amount of derivative	$ 528,500,000			$ 528,500,000
Cash flow | Derivatives Designated as Hedging Instruments | Interest rate swap contracts | Fair Value Other Current Assets
Derivatives, Fair Value [Line Items]
Assets fair value	11,100,000			8,800,000
Cash flow | Derivatives Designated as Hedging Instruments | Interest rate swap contracts | Fair Value Other Assets
Derivatives, Fair Value [Line Items]
Assets fair value	5,400,000			5,300,000
Cash flow | Derivatives Designated as Hedging Instruments | Interest rate swap contracts | Fair Value Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	0			0
Cash flow | Derivatives Designated as Hedging Instruments | Interest rate swap contracts | Fair Value Other Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	0			0
Cash flow | Derivatives Designated as Hedging Instruments | Interest rate cap contracts
Derivatives, Fair Value [Line Items]
Notional amount of derivative	1,000,000,000			1,000,000,000
Cash flow | Derivatives Designated as Hedging Instruments | Interest rate cap contracts | Fair Value Other Current Assets
Derivatives, Fair Value [Line Items]
Assets fair value	13,000,000			8,300,000
Cash flow | Derivatives Designated as Hedging Instruments | Interest rate cap contracts | Fair Value Other Assets
Derivatives, Fair Value [Line Items]
Assets fair value	8,000,000			9,800,000
Cash flow | Derivatives Designated as Hedging Instruments | Interest rate cap contracts | Fair Value Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	0			0
Cash flow | Derivatives Designated as Hedging Instruments | Interest rate cap contracts | Fair Value Other Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	0			0
Net investment | Derivatives Designated as Hedging Instruments | Cross-currency interest rate swap contracts
Derivatives, Fair Value [Line Items]
Notional amount of derivative	1,054,200,000	€ 500,000,000	$ 528,500,000	1,054,200,000
Net investment | Derivatives Designated as Hedging Instruments | Cross-currency interest rate swap contracts | Fair Value Other Current Assets
Derivatives, Fair Value [Line Items]
Assets fair value	15,600,000			17,700,000
Net investment | Derivatives Designated as Hedging Instruments | Cross-currency interest rate swap contracts | Fair Value Other Assets
Derivatives, Fair Value [Line Items]
Assets fair value	0			0
Net investment | Derivatives Designated as Hedging Instruments | Cross-currency interest rate swap contracts | Fair Value Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	0			0
Net investment | Derivatives Designated as Hedging Instruments | Cross-currency interest rate swap contracts | Fair Value Other Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	48,800,000			28,700,000
Fair value | Derivatives Not Designated as Hedging Instruments | Foreign currency forwards
Derivatives, Fair Value [Line Items]
Notional amount of derivative	7,300,000			7,300,000
Fair value | Derivatives Not Designated as Hedging Instruments | Foreign currency forwards | Fair Value Other Current Assets
Derivatives, Fair Value [Line Items]
Assets fair value	0			0
Fair value | Derivatives Not Designated as Hedging Instruments | Foreign currency forwards | Fair Value Other Assets
Derivatives, Fair Value [Line Items]
Assets fair value	0			0
Fair value | Derivatives Not Designated as Hedging Instruments | Foreign currency forwards | Fair Value Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	0			0
Fair value | Derivatives Not Designated as Hedging Instruments | Foreign currency forwards | Fair Value Other Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	0			0
Fair value | Derivatives Not Designated as Hedging Instruments | Foreign currency forwards
Derivatives, Fair Value [Line Items]
Notional amount of derivative	1,700,000			15,800,000
Fair value | Derivatives Not Designated as Hedging Instruments | Foreign currency forwards | Fair Value Other Current Assets
Derivatives, Fair Value [Line Items]
Assets fair value	0			0
Fair value | Derivatives Not Designated as Hedging Instruments | Foreign currency forwards | Fair Value Other Assets
Derivatives, Fair Value [Line Items]
Assets fair value	0			0
Fair value | Derivatives Not Designated as Hedging Instruments | Foreign currency forwards | Fair Value Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	0			0
Fair value | Derivatives Not Designated as Hedging Instruments | Foreign currency forwards | Fair Value Other Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	$ 0			$ 0

Hedging Activities and Deriva_5

Hedging Activities and Derivative Instruments - Schedule of Cash Flow Hedges included in Accumulated Other Comprehensive Income (Loss) (Details) - Interest rate swap contracts - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivatives, Fair Value [Line Items]
Gain (loss) recognized in OCI on derivatives	$ 18.6	$ (6.6)	$ 13.5	$ (6.6)
Loss reclassified from AOCI into income (effective portion)	$ 4	$ (0.1)	$ 6	$ (0.1)

Hedging Activities and Deriva_6

Hedging Activities and Derivative Instruments - Schedule of Net Investment Hedges included in Accumulated Other Comprehensive Income (Loss) (Details) - Cross-currency interest rate swap contracts - Net investment - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) recognized in OCI on derivatives	$ (6.6)	$ 6	$ (12.1)	$ 6
Gain (loss) reclassified from AOCI into income (effective portion)	$ 4.8	$ 0.1	$ 10.2	$ 0.1

Hedging Activities and Deriva_7

Hedging Activities and Derivative Instruments - Derivative Instruments not Designated as Accounting Hedges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net [Abstract]
Total foreign currency transaction gains, net	$ 1.1	$ 1.8	$ 0.1	$ 5.6
Foreign currency forward contracts gains
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net [Abstract]
Total foreign currency transaction gains, net	$ 0	$ 4.1	$ 0.2	$ 3.1

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Measurements (Details) - Recurring - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Financial Assets
Trading securities held in deferred compensation plan	$ 15.3	$ 12.3
Interest rate swaps	16.5	14.1
Interest rate caps	21	18.1
Cross-currency interest rate swaps	15.6	17.7
Foreign currency forwards	0	0
Total	68.4	62.2
Financial Liabilities
Deferred compensation plans	21.9	19.6
Cross-currency interest rate swaps	48.8	28.7
Contingent consideration	62.5	43.9
Foreign currency forwards	0	0
Total	133.2	92.2
Level 1
Financial Assets
Trading securities held in deferred compensation plan	15.3	12.3
Interest rate swaps	0	0
Interest rate caps	0	0
Cross-currency interest rate swaps	0	0
Foreign currency forwards	0	0
Total	15.3	12.3
Financial Liabilities
Deferred compensation plans	21.9	19.6
Cross-currency interest rate swaps	0	0
Contingent consideration	0	0
Foreign currency forwards	0	0
Total	21.9	19.6
Level 2
Financial Assets
Trading securities held in deferred compensation plan	0	0
Interest rate swaps	16.5	14.1
Interest rate caps	21	18.1
Cross-currency interest rate swaps	15.6	17.7
Foreign currency forwards	0	0
Total	53.1	49.9
Financial Liabilities
Deferred compensation plans	0	0
Cross-currency interest rate swaps	48.8	28.7
Contingent consideration	0	0
Foreign currency forwards	0	0
Total	48.8	28.7
Level 3
Financial Assets
Trading securities held in deferred compensation plan	0	0
Interest rate swaps	0	0
Interest rate caps	0	0
Cross-currency interest rate swaps	0	0
Foreign currency forwards	0	0
Total	0	0
Financial Liabilities
Deferred compensation plans	0	0
Cross-currency interest rate swaps	0	0
Contingent consideration	62.5	43.9
Foreign currency forwards	0	0
Total	$ 62.5	$ 43.9

Fair Value Measurements - Conti

Fair Value Measurements - Contingent Consideration (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration, current	$ 20.5	$ 20.5
Contingent consideration, noncurrent	42	42
Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of the period	48.4	43.9
Acquisitions	12.8	12.8
Changes in fair value	4.1	8.4
Payments	(3.1)	(3.1)
Foreign currency translation	0.3	0.5
Balance at end of the period	$ 62.5	$ 62.5

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 1,686.5	$ 1,439.9	$ 3,315.8	$ 2,776.9
Revenue recognized at point in time
Disaggregation of Revenue [Line Items]
Revenues	1,572.3	1,354.6	3,104	2,606.7
Revenue recognized over time
Disaggregation of Revenue [Line Items]
Revenues	114.2	85.3	211.8	170.2
Original equipment
Disaggregation of Revenue [Line Items]
Revenues	1,087.7	932	2,123.1	1,785.2
Aftermarket
Disaggregation of Revenue [Line Items]
Revenues	598.8	507.9	1,192.7	991.7
Americas
Disaggregation of Revenue [Line Items]
Revenues	792.7	692.5	1,586.3	1,323.4
United States
Disaggregation of Revenue [Line Items]
Revenues	697.6	604.6	1,393	1,153.7
Other Americas
Disaggregation of Revenue [Line Items]
Revenues	95.1	87.9	193.3	169.7
EMEIA
Disaggregation of Revenue [Line Items]
Revenues	542.4	448.5	1,081.8	890
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	351.4	298.9	647.7	563.5
Industrial Technologies and Services
Disaggregation of Revenue [Line Items]
Revenues	1,378.4	1,150.5	2,695.6	2,190.1
Industrial Technologies and Services | Revenue recognized at point in time
Disaggregation of Revenue [Line Items]
Revenues	1,266.2	1,065.9	2,486.7	2,022.5
Industrial Technologies and Services | Revenue recognized over time
Disaggregation of Revenue [Line Items]
Revenues	112.2	84.6	208.9	167.6
Industrial Technologies and Services | Original equipment
Disaggregation of Revenue [Line Items]
Revenues	843.2	697.8	1,633.3	1,312
Industrial Technologies and Services | Aftermarket
Disaggregation of Revenue [Line Items]
Revenues	535.2	452.7	1,062.3	878.1
Industrial Technologies and Services | Americas
Disaggregation of Revenue [Line Items]
Revenues	644.8	549.9	1,286.9	1,038
Industrial Technologies and Services | United States
Disaggregation of Revenue [Line Items]
Revenues	556.8	468.9	1,108	883.7
Industrial Technologies and Services | Other Americas
Disaggregation of Revenue [Line Items]
Revenues	88	81	178.9	154.3
Industrial Technologies and Services | EMEIA
Disaggregation of Revenue [Line Items]
Revenues	428.5	343.3	854.5	675.1
Industrial Technologies and Services | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	305.1	257.3	554.2	477
Precision and Science Technologies
Disaggregation of Revenue [Line Items]
Revenues	308.1	289.4	620.2	586.8
Precision and Science Technologies | Revenue recognized at point in time
Disaggregation of Revenue [Line Items]
Revenues	306.1	288.7	617.3	584.2
Precision and Science Technologies | Revenue recognized over time
Disaggregation of Revenue [Line Items]
Revenues	2	0.7	2.9	2.6
Precision and Science Technologies | Original equipment
Disaggregation of Revenue [Line Items]
Revenues	244.5	234.2	489.8	473.2
Precision and Science Technologies | Aftermarket
Disaggregation of Revenue [Line Items]
Revenues	63.6	55.2	130.4	113.6
Precision and Science Technologies | Americas
Disaggregation of Revenue [Line Items]
Revenues	147.9	142.6	299.4	285.4
Precision and Science Technologies | United States
Disaggregation of Revenue [Line Items]
Revenues	140.8	135.7	285	270
Precision and Science Technologies | Other Americas
Disaggregation of Revenue [Line Items]
Revenues	7.1	6.9	14.4	15.4
Precision and Science Technologies | EMEIA
Disaggregation of Revenue [Line Items]
Revenues	113.9	105.2	227.3	214.9
Precision and Science Technologies | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	$ 46.3	$ 41.6	$ 93.5	$ 86.5

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Remaining Performance Obligation (Details) $ in Millions	Jun. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 655.3
Remaining performance obligation, expected timing of satisfaction	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 528.6
Remaining performance obligation, expected timing of satisfaction

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Contract Balances (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Accounts receivable, net	$ 1,219.8	$ 1,122
Contract assets	48.5	70.6
Contract liabilities - current	339.2	305.6
Contract liabilities - noncurrent	$ 1.1	$ 1.1

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
Income before income taxes	$ 238.9	$ 180.5	$ 449.9	$ 323.1
Provision for income taxes	$ 60.5	$ 41.9	$ 108.6	$ 74.3
Effective income tax provision rate (as a percent)	25.30%	23.20%	24.10%	23%

Other Operating Expense, Net (D

Other Operating Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other Income and Expenses [Abstract]
Foreign currency transaction gains, net	$ (1.1)	$ (1.8)	$ (0.1)	$ (5.6)
Restructuring charges, net	5.2	8.9	8.1	21.4
Acquisition and other transaction related expenses	12.8	5.4	28	12.9
Other, net	2.9	0.7	4.2	1.9
Total other operating expense, net	$ 19.8	$ 13.2	$ 40.2	$ 30.6

Contingencies (Details)

Contingencies (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Loss Contingencies [Line Items]
Undiscounted accrued liabilities for environmental loss contingencies	$ 14.9	$ 13.5
Asbestos and Silica Related Litigation
Loss Contingencies [Line Items]
Estimated litigation liability	133	137.9
Insurance recovery receivable	$ 154	$ 154.2

Segment Results - Narrative (De

Segment Results - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Results - Schedule of S

Segment Results - Schedule of Segment Results (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting [Abstract]
Revenue	$ 1,686.5	$ 1,439.9	$ 3,315.8	$ 2,776.9
Segment Adjusted EBITDA	467.5	369.7	907.6	702.2
Less items to reconcile Segment Adjusted EBITDA to Income from Continuing Operations Before Income Taxes:
Interest expense	40.8	23.2	79.7	42.2
Restructuring and related business transformation costs	5.9	9.5	10.2	23.7
Stock-based compensation			24	42.2
Foreign currency transaction gains, net	(1.1)	(1.8)	(0.1)	(5.6)
Loss on extinguishment of debt	0.9	1.1	0.9	1.1
Adjustments to LIFO inventories			14.3	0
Income from Continuing Operations Before Income Taxes	238.9	180.5	449.9	323.1
Provision for income taxes	60.5	41.9	108.6	74.3
Income (loss) on equity method investments	2.4	(0.8)	2.7	(5.1)
Income from Continuing Operations	180.8	137.8	344	243.7
Income from discontinued operations, net of tax	0	1.5	0	0.1
Net Income	180.8	139.3	344	243.8
Depreciation of rental equipment	0.8	0.8	1.7	1.8
Restructuring Costs [Abstract]
Restructuring charges	5.2	8.9	8.1	21.4
Facility reorganization, relocation and other costs	0.7	0.6	2.1	2.3
Total restructuring and related business transformation costs	5.9	9.5	10.2	23.7
Industrial Technologies and Services
Segment Reporting [Abstract]
Revenue	1,378.4	1,150.5	2,695.6	2,190.1
Restructuring Costs [Abstract]
Restructuring charges			1.9
Precision and Science Technologies
Segment Reporting [Abstract]
Revenue	308.1	289.4	620.2	586.8
Restructuring Costs [Abstract]
Restructuring charges			1.4
Operating Segments | Industrial Technologies and Services
Segment Reporting [Abstract]
Revenue	1,378.4	1,150.5	2,695.6	2,190.1
Segment Adjusted EBITDA	377.5	292	723.1	539.4
Operating Segments | Precision and Science Technologies
Segment Reporting [Abstract]
Revenue	308.1	289.4	620.2	586.8
Segment Adjusted EBITDA	90	77.7	184.5	162.8
Corporate expenses not allocated to segments
Less items to reconcile Segment Adjusted EBITDA to Income from Continuing Operations Before Income Taxes:
Corporate expenses not allocated to segments	42.8	34.8	82.8	63.7
Segment Reconciling Items
Less items to reconcile Segment Adjusted EBITDA to Income from Continuing Operations Before Income Taxes:
Interest expense	40.8	23.2	79.7	42.2
Depreciation and amortization expense	111	103.7	224.1	211.2
Restructuring and related business transformation costs	5.9	9.5	10.2	23.7
Acquisition and other transaction related expenses and non-cash charges	13.8	5.4	31.8	14.9
Stock-based compensation	11.9	22.4	24	42.2
Foreign currency transaction gains, net	(1.1)	(1.8)	(0.1)	(5.6)
Loss on extinguishment of debt	0.9	1.1	0.9	1.1
Adjustments to LIFO inventories	6.5	0	14.3	0
Cybersecurity incident costs	2.2	0	2.2	0
Other adjustments	(6.1)	(9.1)	(12.2)	(14.3)
Income from Continuing Operations Before Income Taxes	238.9	180.5	449.9	323.1
Restructuring Costs [Abstract]
Total restructuring and related business transformation costs	$ 5.9	$ 9.5	$ 10.2	$ 23.7

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Basic and Diluted Earnings Per Share (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Average shares outstanding
Basic (in shares)	404.5	404.5	404.8	406.1
Diluted (in shares)	408.3	409.4	408.8	411.2

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings (loss) per share (in shares)	1.6	2	1.6	1.8