Ingersoll Rand (IR) 10-K 23 Feb 24 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2023	Feb. 16, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
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
Entity Address, Address Line Two	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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 26.4
Entity Common Stock, Shares Outstanding		403,435,985
Documents Incorporated by Reference	Portions of the Proxy Statement for the registrant’s 2024 Annual Meeting of Stockholders are incorporated by reference in Part III of this report.
Entity Central Index Key	0001699150
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	DELOITTE & TOUCHE LLP
Auditor Location	Charlotte, NC
Auditor Firm ID	34

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement [Abstract]
Revenues	$ 6,876.1	$ 5,916.3	$ 5,152.4
Cost of sales	3,993.9	3,590.7	3,163.9
Gross Profit	2,882.2	2,325.6	1,988.5
Selling and administrative expenses	1,272.7	1,095.8	1,028
Amortization of intangible assets	367.5	347.6	332.9
Other operating expense, net	77.7	64.9	61.9
Operating Income	1,164.3	817.3	565.7
Interest expense	156.7	103.2	87.7
Loss on extinguishment of debt	13.5	1.1	9
Other income, net	(37)	(29.2)	(44)
Income Before Income Taxes	1,031.1	742.2	513
Provision (benefit) for income taxes	240	149.6	(21.8)
Income (loss) on equity method investments	(6)	0.7	(11.4)
Income from Continuing Operations	785.1	593.3	523.4
Income from discontinued operations, net of tax	0	15.2	41.6
Net Income	785.1	608.5	565
Less: Net income attributable to noncontrolling interests	6.4	3.8	2.5
Net Income Attributable to Ingersoll Rand Inc.	778.7	604.7	562.5
Amounts attributable to Ingersoll Rand Inc. common stockholders:
Income from continuing operations, net of tax	778.7	589.5	520.9
Income from discontinued operations, net of tax	0	15.2	41.6
Net Income Attributable to Ingersoll Rand Inc.	$ 778.7	$ 604.7	$ 562.5
Basic earnings per share of common stock:
Earnings from continuing operations (in USD per share)	$ 1.92	$ 1.45	$ 1.26
Earnings from discontinued operations (in USD per share)	0	0.04	0.10
Net earnings (in USD per share)	1.92	1.49	1.36
Diluted earnings per share of common stock:
Earnings from continuing operations (in USD per share)	1.90	1.44	1.24
Earnings from discontinued operations (in USD per share)	0	0.04	0.10
Net earnings (in USD per share)	$ 1.90	$ 1.47	$ 1.34

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Comprehensive Income Attributable to Ingersoll Rand Inc.
Net income attributable to Ingersoll Rand Inc.	$ 778.7	$ 604.7	$ 562.5
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net	34.8	(252.9)	(103)
Unrecognized gain (loss) on cash flow hedges	(3.8)	16	0
Pension and other postretirement prior service cost and gain (loss), net	(6.9)	26.8	48.7
Other comprehensive income (loss), net of tax	24.1	(210.1)	(54.3)
Comprehensive income attributable to Ingersoll Rand Inc.	802.8	394.6	508.2
Comprehensive Income (Loss) Attributable to Noncontrolling Interests
Net income attributable to noncontrolling interests	6.4	3.8	2.5
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net	1.7	(7.2)	(2.3)
Total other comprehensive income (loss), net of tax	1.7	(7.2)	(2.3)
Comprehensive income (loss) attributable to noncontrolling interests	8.1	(3.4)	0.2
Total Comprehensive Income	$ 810.9	$ 391.2	$ 508.4

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 1,595.5	$ 1,613
Accounts receivable, net of allowance for credit losses of $53.8 and $47.2, respectively	1,234.2	1,122
Inventories	1,001.1	1,025.4
Other current assets	219.6	206.9
Total current assets	4,050.4	3,967.3
Property, plant and equipment, net of accumulated depreciation of $500.8 and $417.4, respectively	711.4	624.4
Goodwill	6,609.7	6,064.2
Other intangible assets, net	3,611.1	3,578.6
Deferred tax assets	31.5	22.3
Other assets	549.4	509.1
Total assets	15,563.5	14,765.9
Current liabilities
Short-term borrowings and current maturities of long-term debt	30.6	36.5
Accounts payable	801.2	778.7
Accrued liabilities	995.5	858.8
Total current liabilities	1,827.3	1,674
Long-term debt, less current maturities	2,693	2,716.1
Pensions and other postretirement benefits	150	147.2
Deferred income tax liabilities	612.6	610.6
Other liabilities	433.9	360.8
Total liabilities	5,716.8	5,508.7
Commitments and contingencies (Note 21)
Stockholders’ equity
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 428,589,061 and 426,327,805 shares issued as of December 31, 2023 and 2022, respectively	4.3	4.3
Capital in excess of par value	9,550.8	9,476.8
Retained earnings	1,697.2	950.9
Accumulated other comprehensive loss	(227.6)	(251.7)
Treasury stock at cost; 25,241,667 and 21,210,095 shares as of December 31, 2023 and 2022, respectively	(1,240.9)	(984.5)
Total Ingersoll Rand Inc. stockholders’ equity	9,783.8	9,195.8
Noncontrolling interests	62.9	61.4
Total equity	9,846.7	9,257.2
Total liabilities and equity	$ 15,563.5	$ 14,765.9

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 53.8	$ 47.2
Accumulated depreciation on property, plant and equipment	$ 500.8	$ 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)	428,589,061	426,327,805
Treasury stock (in shares)	25,241,667	21,210,095

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Millions	Total	Total Ingersoll Rand Inc. Stockholders’ Equity	Common Stock	Capital in Excess of Par Value	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Noncontrolling Interests
Balance at beginning of period (shares) at Dec. 31, 2020			420,100,000
Balance at beginning of period at Dec. 31, 2020	$ 9,189.5	$ 9,119.7	$ 4.2	$ 9,310.3	$ (175.7)	$ 14.2	$ (33.3)	$ 69.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	565	562.5			562.5			2.5
Dividends declared	(8.2)	(8.2)			(8.2)
Issuance of common stock for stock-based compensation plans (in shares)			3,700,000
Issuance of common stock for stock-based compensation plans	20.4	20.4	$ 0.1	20.3
Purchases of treasury stock	(736.8)	(736.8)					(736.8)
Issuance of treasury stock for stock-based compensation plans	1.8	1.8		(19.9)			21.7
Stock-based compensation	97.9	97.9		97.9
Other comprehensive loss, net of tax	(56.6)	(54.3)				(54.3)		(2.3)
Divestiture of foreign subsidiaries	(1.5)	(1.5)				(1.5)
Dividends attributable to noncontrolling interests	(0.3)							(0.3)
Balance at end of period (shares) at Dec. 31, 2021			423,800,000
Balance at end 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	608.5	604.7			604.7			3.8
Dividends declared	(32.4)	(32.4)			(32.4)
Issuance of common stock for stock-based compensation plans (in shares)			2,500,000
Issuance of common stock for stock-based compensation plans	17.3	17.3		17.3
Purchases of treasury stock	(261.1)	(261.1)					(261.1)
Issuance of treasury stock for stock-based compensation plans	2.2	2.2		(22.8)			25
Stock-based compensation	73.7	73.7		73.7
Other comprehensive loss, net of tax	(217.3)	(210.1)				(210.1)		(7.2)
Dividends attributable to noncontrolling interests	$ (4.9)							(4.9)
Balance at end of period (shares) at Dec. 31, 2022	405,117,710		426,300,000
Balance at end 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	785.1	778.7			778.7			6.4
Dividends declared	(32.4)	(32.4)			(32.4)
Issuance of common stock for stock-based compensation plans (in shares)			2,300,000
Issuance of common stock for stock-based compensation plans	27.8	27.8		27.8
Purchases of treasury stock	(264.1)	(264.1)					(264.1)
Issuance of treasury stock for stock-based compensation plans	2.8	2.8		(4.9)			7.7
Stock-based compensation	51.1	51.1		51.1
Other comprehensive loss, net of tax	25.8	24.1				24.1		1.7
Dividends attributable to noncontrolling interests	$ (6.6)							(6.6)
Balance at end of period (shares) at Dec. 31, 2023	403,347,394		428,600,000
Balance at end of period at Dec. 31, 2023	$ 9,846.7	$ 9,783.8	$ 4.3	$ 9,550.8	$ 1,697.2	$ (227.6)	$ (1,240.9)	$ 62.9

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash Flows From Operating Activities
Net Income	$ 785.1	$ 608.5	$ 565
Income from discontinued operations, net of tax	0	15.2	41.6
Income from continuing operations	785.1	593.3	523.4
Adjustments to reconcile income from continuing operations to net cash provided by operating activities from continuing operations:
Amortization of intangible assets	367.5	347.6	332.9
Depreciation	91.6	85.2	89.2
Non-cash restructuring charges	2.7	6	1.1
Stock-based compensation expense	51.9	78.9	87.2
Loss (income) on equity method investments	6	(0.7)	11.4
Foreign currency transaction losses (gains), net	5.1	(5.9)	(12)
Non-cash adjustments to carrying value of LIFO inventories	12	36.1	33.2
Loss on extinguishment of debt	13.5	1.1	9
Deferred income taxes	(76.9)	(85.8)	(103.6)
Other non-cash adjustments	8.3	7	(0.2)
Changes in assets and liabilities
Receivables	(48.6)	(195.2)	(62.5)
Inventories	117.3	(225.6)	(134.4)
Accounts payable	(23.9)	120.4	118.2
Accrued liabilities	94.8	101.2	(220)
Other assets and liabilities, net	(29)	1.8	(45.1)
Net cash provided by operating activities from continuing operations	1,377.4	865.4	627.8
Cash Flows From Investing Activities
Capital expenditures	(105.4)	(94.6)	(64.1)
Net cash paid in acquisitions	(963)	(246.8)	(974.8)
Disposals of property, plant and equipment	7.6	0	9.5
Other investing	0.3	4.1	0
Net cash used in investing activities from continuing operations	(1,060.5)	(337.3)	(1,029.4)
Cash Flows From Financing Activities
Principal payments on long-term debt	(1,518)	(655.6)	(435.7)
Proceeds from long-term debt	1,490.4	0	0
Purchases of treasury stock	(263)	(261.1)	(736.8)
Cash dividends on common stock	(32.4)	(32.4)	(8.2)
Proceeds from stock option exercises	30.3	19.3	23.7
Payments of interest rate cap premiums	0	(13.4)	0
Payments of deferred and contingent acquisition consideration	(17.5)	(4.6)	0
Payments of debt issuance costs	(18.5)	0	0
Other financing	(8.8)	(6.2)	0
Net cash provided by (used in) financing activities	(337.5)	(954)	(1,157)
Cash Flows From (Used In) Discontinued Operations:
Net cash used in operating activities	0	(5.1)	(12.3)
Net cash provided by investing activities	0	4.4	1,943.7
Net cash provided by (used in) discontinued operations	0	(0.7)	1,931.4
Effect of exchange rate changes on cash and cash equivalents	3.1	(70)	(14.1)
Net increase (decrease) in cash and cash equivalents	(17.5)	(496.6)	358.7
Cash and cash equivalents, beginning of year	1,613	2,109.6	1,750.9
Cash and cash equivalents, end of year	1,595.5	1,613	2,109.6
Supplemental Cash Flow Information
Cash paid for income taxes	302	181.5	427.9
Cash paid for interest	$ 100.5	$ 95.2	$ 79.8

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Overview and Basis of Presentation Ingersoll Rand Inc. is a global market leader with a broad range of innovative and mission-critical air, fluid, energy and medical technologies, providing services and solutions to increase industrial productivity and efficiency. The accompanying consolidated financial statements include the accounts of Ingersoll Rand Inc. and its consolidated subsidiaries (collectively referred to herein as “Ingersoll Rand” or the “Company”). Principles of Consolidation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All intercompany transactions and accounts have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. The Company regularly evaluates the estimates and assumptions related to the allowance for credit losses, inventory valuation, warranty reserves, fair value of stock-based awards, goodwill, intangible asset, and long-lived asset valuations, employee benefit plan liabilities, over time revenue recognition, income tax liabilities and deferred tax assets and related valuation allowances, uncertain tax positions, restructuring reserves, and litigation and other loss contingencies. Actual results could differ materially and adversely from those estimates and assumptions, and such results could affect the Company’s consolidated net income, financial position, or cash flows. Foreign Currency Translation Assets and liabilities of the Company’s foreign subsidiaries, where the functional currency is not the U.S. Dollar (“USD”), are translated at the exchange rate in effect at the balance sheet date, while revenues and expenses are translated at average rates prevailing during the year. Adjustments resulting from the translation of the assets and liabilities of foreign operations into USD are excluded from the determination of net income, and are reported in accumulated other comprehensive loss, a separate component of stockholders’ equity, and included as a component of other comprehensive income (loss). Assets and liabilities of subsidiaries that are denominated in currencies other than the subsidiaries’ functional currency are remeasured into the functional currency using end of period exchange rates, or historical rates for certain balances, where applicable. Gains and losses related to these remeasurements are recorded within the Consolidated Statements of Operations as a component of “Other operating expense, net.” Revenue Recognition The Company recognizes revenue when the Company has satisfied its obligation and control is transferred to the customer. 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 also has certain contracts in which revenue is recognized over time based on the Company’s progress in satisfying the contractual performance obligations. See Note 15 “Revenue from Contracts with Customers” for additional information regarding revenue recognition. Cost of Sales Cost of sales includes the costs the Company incurs, including purchased materials, labor and overhead related to manufactured products and aftermarket parts sold during a period. Depreciation related to manufacturing equipment and facilities is included in cost of sales. Purchased materials represent the majority of costs of sales, with steel, aluminum, copper and partially finished castings representing the most significant materials inputs. Cost of sales for services includes the direct costs the Company incurs including direct labor, parts and other overhead costs including depreciation of equipment and facilities to deliver repair, maintenance, and other field services to the Company’s customers. Selling and Administrative Expenses Selling and administrative expenses consist of (i) employee related salary, stock-based compensation expense, benefits and other expenses for selling, administrative functions and other activities not associated with the manufacture of products or delivery of services to customers; (ii) the costs of marketing and direct costs of selling products and services to customers including internal and external sales commissions; (iii) facilities costs including office rent, maintenance, depreciation, and insurance for selling and administrative activities; (iv) research and development expenditures; (v) professional and consultant fees; and (vi) other miscellaneous expenses. Cash and Cash Equivalents Cash and cash equivalents are highly liquid investments primarily consisting of demand deposits and have original maturities of three months or less. Accordingly, the carrying amount of such instruments is considered a reasonable estimate of fair value. As of December 31, 2023 and 2022, cash of $1.2 million and $1.3 million, respectively, was pledged to financial institutions as collateral to support the issuance of standby letters of credit and similar instruments on behalf of the Company. Accounts Receivable Trade accounts receivable consist of amounts owed for products shipped to or services performed for customers. Reviews of customers’ creditworthiness are performed prior to order acceptance or order shipment. Trade accounts receivable are recorded net of an allowance for expected credit losses. The allowance for credit losses is based on the Company’s assessment of losses that will result from its customers’ inability or unwillingness to pay amounts owed to the Company. The allowance is determined using a combination of factors, including historical credit loss experience and the length of time that the trade receivables are past due, supplemented by the Company’s knowledge of customer-specific information, current market conditions and reasonable and supportable forecasts of future events and economic conditions. Inventories Inventories, which consist primarily of raw materials and finished goods, are carried at the lower of cost or net realizable value. Fixed manufacturing overhead is allocated to the cost of inventory based on the normal capacity of production facilities. Unallocated overhead during periods of abnormally low production levels is recognized as cost of sales in the period in which it is incurred. Property, Plant and Equipment Property, plant and equipment includes the historical cost of land, buildings, equipment, and significant improvements to existing plant and equipment or in the case of acquisitions, a fair market value of assets at the time of acquisition. Repair and maintenance costs that do not extend the useful life of an asset are recorded as an expense as incurred. Depreciation is provided using the straight-line method over the estimated useful lives of the assets, which are generally as follows: buildings — 10 to 30 years, machinery and equipment — 7 to 10 years, and office furniture and equipment — 3 to 10 years. Goodwill and Indefinite-Lived Intangible Assets Goodwill is recorded as the difference, if any, between the aggregate consideration paid for an acquisition and the fair value of the net tangible and intangible assets acquired, liabilities assumed, and non-controlling interests, if any. Intangible assets, including goodwill, are assigned to the Company’s reporting units based upon their fair value at the time of acquisition. Goodwill and indefinite-lived intangibles such as tradenames are not subject to amortization but are assessed for impairment annually, or more frequently if events or changes in circumstances indicate that the asset might be impaired or that there is a probable reduction in the fair value of a reporting unit below its aggregate carrying value. The Company tests goodwill for impairment annually in the fourth quarter of each year using data as of October 1 of that year and whenever events or changes in circumstances indicate the carrying value may not be recoverable. The impairment test consists of comparing the fair value of the reporting unit to the carrying value of the reporting unit. An impairment charge is recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; provided, the loss recognized cannot exceed the total amount of goodwill allocated to the reporting unit. If applicable, the Company considers income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss. The Company determined fair values for each of the reporting units using a combination of the income and market multiple approaches which are weighted 75% and 25%, respectively. Under the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk-adjusted rate. The Company uses its internal forecasts to estimate future cash flows and includes an estimate of long-term future growth rates based on its most recent views of the long-term outlook for each reporting unit. Actual results may differ from those assumed in the Company’s forecasts. The Company derives its discount rates using a capital asset pricing model and analyzing published rates for industries relevant to its reporting units to estimate the cost of equity financing. The Company uses discount rates that are commensurate with the risks and uncertainty inherent in the respective businesses and in its internally developed forecasts. Under the market approach, the Company applies performance multiples from comparable public companies, adjusted for relative risk, profitability, and growth considerations, to the reporting units to estimate fair value. The Company tests intangible assets with indefinite lives annually for impairment using a relief from royalty discounted cash flow fair value model. The quantitative impairment test for indefinite-lived intangible assets involves a comparison of the estimated fair value of the intangible asset with its carrying value. If the carrying value of the intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. The relief from royalty method requires the Company to estimate forecasted revenues and determine appropriate discount rates, royalty rates, and terminal growth rates. See Note 9 “Goodwill and Other Intangible Assets” for additional information related to impairment testing for goodwill and other intangible assets. Long-Lived Assets Including Intangible Assets With Finite Useful Lives Intangible assets with finite useful lives are amortized on a straight-line basis over their estimated useful lives, which vary depending on the type of intangible assets. In determining the estimated useful lives of definite-lived intangibles, we consider the nature, competitive position, life cycle position and historical and expected future operating cash flows of each acquired assets, as well as our commitment to support these assets through continued investment and legal infringement protection. The Company reviews long-lived assets, including identified intangible assets with finite useful lives and subject to amortization for impairment, whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Determining whether an impairment loss occurred requires comparing the carrying amount to the sum of undiscounted cash flows expected to be generated by the asset. Such events and circumstances include the occurrence of an adverse change in the market involving the business employing the related long-lived assets or a situation in which it is more likely than not that the Company will dispose of such assets. If the comparison indicates that there is impairment, the impairment loss to be recognized as a non-cash charge to earnings is measured by the amount by which the carrying amount of the assets exceeds their fair value and the impaired assets are written down to their fair value or, if fair value is not readily determinable, to an estimated fair value based on discounted expected future cash flows. Assets to be disposed are reported at the lower of the carrying amount or fair value, less costs to dispose. Warranty Reserves Most of the Company’s product sales are covered by warranty provisions that generally provide for the repair or replacement of qualifying defective items for a specified period after the time of sale, typically 12 months. The Company establishes reserves for estimated product warranty costs at the time revenue is recognized based upon historical warranty experience and additionally for any known product warranty issues. The Company’s warranty obligation has been and may in the future be affected by product failure rates, repair or field replacement costs, and additional costs incurred in correcting any product failure. Stock-Based Compensation Stock-based compensation is measured for all stock-based equity awards made to employees and non-employee directors based on the estimated fair value as of the grant date. The determination of the fair values of stock-based awards at the grant date requires judgment, including estimating the expected term of the relevant stock-based payment awards and the expected volatility of the Company’s stock. The fair value of each stock option grant under the stock-based compensation plans is estimated on the date of grant or modification using the Black-Scholes-Merton option-pricing model. The expected stock volatility assumption was based on an average of the historical volatility over the expected term of the stock options. Forfeitures of stock options are accounted for as they occur. Restricted stock units and performance share units with internal performance metrics (i.e. EPS) are valued at the share price on the date of grant. The grant date fair value of performance share units with external performance metrics (i.e. TSR) is determined using a Monte Carlo simulation pricing model. See Note 18 “Stock-Based Compensation Plans” for additional information regarding the Company’s equity compensation plans. Pension and Other Postretirement Benefits The Company sponsors a number of pension plans and other postretirement benefit plans worldwide. The calculation of the pension and other postretirement benefit obligations and net periodic benefit cost under these plans requires the use of actuarial valuation methods and assumptions. These assumptions include the discount rates used to value the projected benefit obligations, future rate of compensation increases, expected rates of return on plan assets and expected healthcare cost trend rates. The discount rates selected to measure the present value of the Company’s benefit obligations as of December 31, 2023 and 2022 were derived by examining the rates of high-quality, fixed income securities whose cash flows or duration match the timing and amount of expected benefit payments under the plans. In accordance with GAAP, actual results that differ from the Company’s assumptions are recorded in accumulated other comprehensive income (loss) and amortized through net periodic benefit cost over future periods. While management believes that the assumptions are appropriate, differences in actual experience or changes in assumptions may affect the Company’s pension and other postretirement benefit obligations and future net periodic benefit cost. See Note 12 “Benefit Plans” for disclosures related to the Company’s benefit plans, including quantitative disclosures reflecting the impact that changes in certain assumptions would have on service and interest costs and benefit obligations. Income Taxes The Company has determined income tax expense and other deferred income tax information based on the asset and liability method. Deferred income tax liabilities are provided on temporary differences between assets and liabilities for financial and tax reporting purposes as measured by enacted tax rates expected to apply when temporary differences are settled or realized. A valuation allowance is established for the portion of deferred tax assets for which it is not more likely than not that a tax benefit will be realized. Tax benefits are recognized only for tax positions that are more likely than not to be sustained upon examination by tax authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50% likely to be realized upon ultimate settlement. Unrecognized tax benefits are tax benefits claimed in the Company’s tax returns that do not meet these recognition and measurement standards. The Company believes that its income tax liabilities, including related interest, are adequate in relation to the potential for additional tax assessments. There is a risk, however, that the amounts ultimately paid upon resolution of audits could be materially different from the amounts previously included in income tax expense and, therefore, could have a material impact on the Company’s tax provision, net income, and cash flows. The Company reviews its liabilities quarterly, and may adjust such liabilities due to proposed assessments by tax authorities, changes in facts and circumstances, issuance of new regulations or new case law, negotiations between tax authorities of different countries concerning transfer prices, the resolution of audits, or the expiration of statutes of limitations. Adjustments are most likely to occur in the year during which major audits are closed. The Tax Cuts and Jobs Act (“Tax Act”), enacted on December 22, 2017, created a new requirement that certain income (i.e., Global intangible low taxed income (“GILTI”)) earned by controlled foreign corporations (“CFC”) must be included currently in the gross income of the CFCs’ U.S. shareholder. GILTI is the excess of the shareholder’s “net CFC tested income” over the net deemed tangible income return, which is currently defined as the excess of (1) 10% of the aggregate of the U.S. shareholder’s pro rata share of the qualified business asset investment of each CFC with respect to which it is a U.S. shareholder over (2) the amount of certain interest expense taken into account in the determination of net CFC-tested income. Under U.S. GAAP, the Company is allowed to make an accounting policy choice of either (1) treating taxes due on future U.S. inclusions in taxable income related to GILTI as a current-period expense when incurred (the “period cost method”) or (2) factoring such amounts into a company’s measurement of its deferred taxes (the “deferred method”). The Company has determined that it will follow the period cost method (option 1 above). The Company recorded a tax expense of $7.2 million in 2023 for the GILTI provisions of the Tax Act. Research and Development For the years ended December 31, 2023, 2022 and 2021, the Company spent $108 million , $91 million, and $74 million, respectively, on research activities relating to the development of new products and new product applications. All such expenditures were funded by the Company, expensed as incurred and recorded to “Selling and administrative expenses” in the Consolidated Statements of Operations. Derivative Financial Instruments All derivative financial instruments are reported on the balance sheet at fair value. For derivative instruments that are not designated as hedges, any gain or loss on the derivatives is recognized in earnings in the current period. A derivative instrument may be designated as a hedge of the exposure to: (1) changes in the fair value of an asset, liability, or firm commitment, (2) variability in expected future cash flows, if the hedging relationship is expected to be highly effective in offsetting changes in fair value or cash flows attributable to the hedged risk during the period of designation or (3) as a hedge of a net investment in a foreign operation. If a derivative is designated as a fair value hedge, the gain or loss on the derivative and the offsetting loss or gain on the hedged asset, liability, or firm commitment are recognized in earnings. For derivative instruments designated as a cash flow hedge, the effective portion of the gain or loss on the derivative instrument is reported as a component of accumulated other comprehensive income and reclassified to earnings in the same period that the hedged transaction affects earnings. For derivative instruments designated as net investment in a foreign operation, gains or losses are reported as currency translation adjustments. The ineffective portion of the gain or loss is immediately recognized in earnings. Gains or losses on derivative instruments recognized in earnings are reported in the same line item as the associated hedged transaction in the Consolidated Statements of Operations. Hedge accounting is discontinued prospectively when (1) it is determined that a derivative is no longer effective in offsetting changes in the fair value or cash flows of a hedged item; (2) the derivative is sold, terminated, or exercised; (3) the hedged item no longer meets the definition of a firm commitment; or (4) it is unlikely that a forecasted transaction will occur within two months of the originally specified time period. When hedge accounting is discontinued because it is determined that the derivative no longer qualifies as an effective fair-value hedge, the derivative continues to be carried on the balance sheet at its fair value, and the changes in the fair value of the hedged asset or liability is recorded to the Consolidated Statements of Operations. When cash flow hedge accounting is discontinued because the derivative is sold, terminated, or exercised, the net gain or loss remains in accumulated other comprehensive income and is reclassified into earnings in the same period that the hedged transaction affects earnings or until it becomes unlikely that a hedged forecasted transaction will occur within two months of the originally scheduled time period. When hedge accounting is discontinued because a hedged item no longer meets the definition of a firm commitment, the derivative continues to be carried on the Consolidated Balance Sheet at its fair value, and any asset or liability that was recorded pursuant to recognition of the firm commitment is removed from the balance sheet and recognized as a gain or loss currently in earnings. When hedge accounting is discontinued because it is probable that a forecasted transaction will not occur within two months of the originally specified time period, the derivative continues to be carried on the balance sheet at its fair value, and gains and losses reported in accumulated other comprehensive income are recognized immediately in the Consolidated Statements of Operations. Comprehensive Income The Company’s comprehensive income consists of net income (loss) and other comprehensive income (loss), consisting 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 intercompany notes of a long-term nature and hedges of net investments in foreign operations, net of income taxes; (iii) unrealized gains and losses on cash flow hedges, net of income taxes; and (iv) pension and other postretirement prior service cost and actuarial gains or losses, net of income taxes. See Note 14 “Accumulated Other Comprehensive Income (Loss).” Restructuring Charges The Company incurs costs in connection with workforce reductions, facility consolidations and other actions. Such costs include employee termination benefits (one-time arrangements and benefits attributable to prior service), termination of contractual obligations, non-cash asset charges and other direct incremental costs. A liability is established through a charge to operations for (i) one-time employee termination benefits when management commits to a plan of termination; (ii) employee termination benefits that accumulate or vest based on prior service when it becomes probable that such termination benefits will be paid and the amount of the payment can be reasonably estimated; and (iii) contract termination costs when the contract is terminated or the Company becomes contractually obligated to make such payment. Other direct incremental costs are charged to operations as incurred. Charges recorded in connection with restructuring plans are included in “Other operating expense, net” in the Consolidated Statements of Operations. Business Combinations The Company accounts for business combinations by applying the acquisition method. The Company’s consolidated financial statements include the operating results of acquired entities from the respective dates of acquisition. The Company recognizes and measures the identifiable assets acquired, liabilities assumed, and any non-controlling interest as of the acquisition date at fair value. The excess, if any, of total consideration transferred in a business combination over the fair value of identifiable assets acquired, liabilities assumed, and any non-controlling interest is recognized as goodwill in the Consolidated Balance Sheets. Costs incurred by the Company to effect a business combination other than costs related to the issuance of debt or equity securities are included in the Consolidated Statements of Operations in the period the costs are incurred. Earnings per Share The calculation of earnings per share (“EPS”) is based on the weighted-average number of the Company’s shares outstanding for the applicable period. The calculation of diluted earnings per share reflects the effect of all dilutive potential shares that were outstanding during the respective periods, unless the effect of doing so is antidilutive. The Company uses the treasury stock method to calculate the effect of outstanding share-based compensation awards. Leases The Company has operating and financing leases for real estate, vehicles, IT equipment, office equipment and production equipment. The Company determines if an arrangement is a lease and identifies the classification of the lease as a financing lease or an operating lease at inception. Operating leases are recorded as operating lease right-of-use assets (“ROU assets”) in “Other assets” and operating lease liabilities in “Accrued liabilities” and “Other liabilities” in the Consolidated Balance Sheets. Financing leases are recorded as financing ROUs in “Property, plant and equipment” and lease liabilities in “Short-term borrowings and current maturities of long-term debt” and “Long-term debt, less current maturities” in the Consolidated Balance Sheets. At the date of commencement, lease liabilities are recorded at the present value of the future minimum lease payments over the lease term. The lease term is equal to the initial term at commencement plus any renewal or extension options that the Company is reasonably certain will be exercised. ROU assets at the date of commencement are equal to the amount of the initial lease liability, the initial direct costs incurred by the Company and any prepaid lease payments less any incentives received. An incremental borrowing rate is used in the determination of the present value of future lease payments. Incremental borrowing rates for a lease are based on the lease term, lease currency and the Company’s credit spread.

New Accounting Standards

New Accounting Standards	12 Months Ended
	Dec. 31, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
New Accounting Standards	New Accounting Standards 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. In September 2022, the FASB issued ASU 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. This ASU requires that a buyer in a supplier finance program disclose sufficient information about the program to allow a user of financial statements to understand the program's nature, activity during the period, changes from period to period, and potential magnitude. The amendments in this update are effective for fiscal years beginning after December 15, 2022, except for the amendment on roll forward information, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. The Company adopted this guidance on January 1, 2023. The adoption did not have a material impact on our consolidated financial statements. The Company has agreements with financial institutions 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 Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segments expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments in this update should be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The adoption will modify our disclosures but is not expected to have a material effect on our consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which addresses investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The amendments in this update are effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual statements that have not yet been issued or made available for issuance. The amendments in this update should be applied on a prospective basis. Retrospective application is permitted. The adoption will modify our disclosures but is not expected to have a material effect on our consolidated financial statements.

Discontinued Operations

Discontinued Operations	12 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations Discontinued operations consist 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 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 its majority interest in High Pressure Solutions to private equity firm American Industrial Partners. In exchange for its majority interest of 55%, the Company received net cash proceeds of $278.3 million and retained a 45% common equity interest in the newly-formed entity comprising the HPS business. The Company expects to maintain this minority investment indefinitely and is unable to estimate when this interest may be disposed. This sale was substantially completed on April 1, 2021. Financial information of discontinued operations The results of operations of SVT and HPS are presented as discontinued operations for the years ended December 31, 2022 and 2021 as summarized below: Specialty Vehicle Technologies High Pressure Solutions Total 2022 2021 2022 2021 2022 2021 Revenues $ 6.6 $ 430.9 $ — $ 71.9 $ 6.6 $ 502.8 Cost of sales 6.5 321.3 — 60.2 6.5 381.5 Gross Profit 0.1 109.6 — 11.7 0.1 121.3 Selling and administrative expenses 0.1 35.7 — 5.3 0.1 41.0 Amortization of intangible assets — 10.4 — 2.4 — 12.8 Loss (gain) on sale (2.8) (298.3) — 207.7 (2.8) (90.6) Other operating expense, net 0.7 18.1 1.6 19.0 2.3 37.1 Income (Loss) from Discontinued Operations Before Income Taxes 2.1 343.7 (1.6) (222.7) 0.5 121.0 Benefit for income taxes (13.2) 87.1 (1.5) (7.7) (14.7) 79.4 Income (Loss) from Discontinued Operations, Net of Tax $ 15.3 $ 256.6 $ (0.1) $ (215.0) $ 15.2 $ 41.6 The significant non-cash operating items and capital expenditures reflected in cash flows of discontinued operations for the years ended December 31, 2022 and 2021 include the following: Specialty Vehicle Technologies High Pressure Solutions Total 2022 2021 2022 2021 2022 2021 Loss (gain) on sale $ (2.8) $ (298.3) $ — $ 207.7 $ (2.8) $ (90.6) Depreciation and amortization — 14.8 — 4.0 — 18.8 Stock-based compensation expense — 8.2 — 2.7 — 10.9 Capital expenditures — 1.6 — 0.3 — 1.9

Acquisitions

Acquisitions	12 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
Acquisitions	Acquisitions 2023 Acquisitions 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 $29.5 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. On August 18, 2023, the Company completed the acquisition of Howden Roots LLC (“Roots”), for cash consideration of $292.5 million. Roots is a leading manufacturer of engineered rotary and centrifugal blowers with an iconic brand developed over more than 160 years. The acquisition is intended to expand the Company’s blower product portfolio and benefit from Roots’ robust technical capabilities and exposure to growing sustainability-related applications. Roots 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. This goodwill is expected to be deductible for tax purposes. The Company acquired 10 additional businesses in 2023 for aggregate consideration of $83.3 million. These primarily consist of manufacturers and distributors of existing and adjacent offerings in the Industrial Technologies and Services segment. Of the goodwill recognized on our 2023 acquisitions, $159.9 million is expected to be deductible for tax purposes. 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 Air Treatment is complete. Initial accounting for all other acquisitions completed in 2023, including Roots, is substantially complete and any further measurement period adjustments are not expected to be material. Air Treatment Roots All Others Total Accounts receivable $ 26.1 $ 14.5 $ 11.8 $ 52.4 Inventories 43.9 34.2 21.1 99.2 Other current assets 2.1 2.9 6.2 11.2 Property, plant and equipment 18.4 42.1 5.0 65.5 Goodwill 279.9 106.6 125.0 511.5 Other intangible assets 238.6 116.9 25.4 380.9 Other noncurrent assets 7.6 4.5 0.4 12.5 Total current liabilities (35.9) (27.1) (19.1) (82.1) Deferred tax liabilities (54.8) — (3.7) (58.5) Other noncurrent liabilities (6.9) (2.1) (4.3) (13.3) Total consideration $ 519.0 $ 292.5 $ 167.8 $ 979.3 Acquisition Revenues and Operating Income The revenues and operating income included in the consolidated financial statements for these acquisitions subsequent to their acquisition date were $293.7 million and $16.1 million, respectively, for the year ended December 31, 2023. 2022 Acquisitions 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”), the Indian market leader for customized blower and vacuum pump solutions, for $75.3 million aggregate cash consideration and estimated contingent consideration of $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 complete. Dosatron International All others Total Consideration 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 noncurrent 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 Acquisition Revenues and Operating Income The revenues included in the consolidated financial statements for these acquisitions subsequent to their acquisition date were $124.4 million and $38.4 million, respectively, for the years ended December 31, 2023 and 2022. The operating income included in the consolidated financial statements for these acquisitions subsequent to their acquisition date was $19.5 million and $3.4 million, respectively, for the years ended December 31, 2023 and 2022. 2021 Acquisitions The Company acquired multiple businesses during the year ended December 31, 2021. Pro forma information has not been provided as the acquisitions did not have a material impact on the Company’s Consolidated Statements of Operations individually or in the aggregate. The revenues and operating income of each of the acquisitions below are included in the Company’s consolidated financial statements from the acquisition date. On January 31, 2021, the Company acquired the Vacuum and Blower Systems division of Tuthill Corporation for cash consideration of $184.0 million. The business operates under the tradenames M-D Pneumatics and Kinney Vacuum Pumps and is a leader in the design and manufacture of positive displacement blowers, mechanical vacuum pumps, vacuum boosters and engineered blower and vacuum systems. The acquisition is intended to expand the product portfolio of the Industrial Technologies and Services segment with complementary technologies and applications. The goodwill arising from the acquisition is attributable to the expected cost synergies, anticipated growth of new and existing customers, and the assembled workforce. The goodwill resulting from this acquisition is deductible for tax purposes. On July 30, 2021, the Company acquired Maximus Solutions for cash consideration of $111.0 million, net of cash acquired. The business is a provider of digital controls and Industrial Internet of Things (IIoT) production management systems for the agritech software and controls market. The acquisition is intended to expand product and service offerings of the Precision and Science Technologies segment into attractive end markets and contribute to growth in digital and connected solutions. The goodwill arising from the acquisition is attributable to synergies expected from building on Maximus’s expertise in digital controls and IIoT systems and from anticipated growth from existing and new customers. None of this goodwill is deductible for tax purposes. On August 31, 2021, the Company acquired Seepex GmbH (“Seepex”) for cash consideration of $482.1 million, net of cash acquired. Seepex is a global leader in progressive cavity pump solutions. The acquisition expands the product portfolio of the Precision and Science Technologies segment with offerings that primarily serve the water, wastewater, food and beverage, and chemical end markets. The goodwill arising from the acquisition is attributable to the expected cost synergies, anticipated growth of new and existing customers, and the assembled workforce. None of this goodwill is deductible for tax purposes. On October 29, 2021, the Company acquired Air Dimensions Inc. for cash consideration of $70.8 million. The business designs, manufactures and sells vacuum diaphragm pumps primarily for environmental applications. The acquisition is intended to expand the product portfolio of the Precision and Science Technologies segment and further penetrate end markets such as emission monitoring, biogas, utility and chemical processing. The goodwill arising from the acquisition is attributable to growth expected from product and channel synergies and to the assembled workforce. The goodwill resulting from this acquisition is deductible for tax purposes. On December 1, 2021, the Company acquired the assets of Tuthill Corporation’s Pump Group for cash consideration of $84.8 million. The business is a market leader in gear and piston pump solutions. The acquisition is intended to complement existing brands and technologies in the Precision and Science Technologies segment and further penetrate high growth end markets, including life and sciences, food and beverage, medical and water and wastewater treatment. The goodwill arising from the acquisition is attributable to revenue growth and cost savings opportunities and to the assembled workforce. The majority of the goodwill resulting from this acquisition is deductible for tax purposes. Other acquisitions completed during the year ended December 31, 2021 include multiple sales and service businesses and a manufacturer of air purity analysis equipment in the Industrial Technologies and Services segment and a pump technology business in the Precision and Science Technologies segment. The aggregate consideration for these acquisitions was $44.6 million. The following table summarizes the allocation of consideration to the fair values of identifiable assets acquired and liabilities assumed at the acquisition date. Seepex M-D Pneumatics and Kinney Vacuum Pumps Maximus Solutions All Others Total Consideration Accounts receivable $ 24.9 $ 4.8 $ 4.3 $ 9.4 $ 43.4 Inventories 42.4 3.8 2.9 10.1 59.2 Other current assets 1.9 0.2 0.2 0.3 2.6 Property, plant and equipment 40.6 16.2 2.1 15.0 73.9 Goodwill 249.0 81.5 75.9 79.6 486.0 Other intangible assets 239.2 82.5 39.5 95.9 457.1 Other noncurrent assets 1.4 — — — 1.4 Total current liabilities (35.1) (3.5) (2.4) (4.1) (45.1) Deferred tax liabilities (75.6) — (11.3) (4.2) (91.1) Other noncurrent liabilities (6.6) (1.5) (0.2) (1.8) (10.1) Total consideration $ 482.1 $ 184.0 $ 111.0 $ 200.2 $ 977.3 Acquisition Revenues and Operating Income The revenues included in the consolidated financial statements for these acquisitions subsequent to their acquisition date were $369.5 million, $356.1 million and $145.9 million, respectively, for the years ended December 31, 2023, 2022 and 2021. The operating income (loss) included in the consolidated financial statements for these acquisitions subsequent to their acquisition date was $45.9 million, $31.8 million and $(4.5) million, respectively, for the years ended December 31, 2023, 2022 and 2021.

Restructuring

Restructuring	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring 2023 Actions The Company continues to undertake restructuring actions to optimize our cost structure. Charges incurred from actions taken in 2023 include workforce restructuring, facility consolidation and other exit and disposal costs. For the year ended December 31, 2023, we recognized expense of $10.8 million within Industrial Technologies and Services, $4.3 million within Precision and Science Technologies, and $0.4 million in Corporate 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 December 31, 2023, we have recognized cumulative expense related to the 2020 Plan of $130.1 million, comprising $103.1 million, $15.4 million and $11.6 million for Industrial Technologies and Services, Precision and Science Technologies and Corporate, respectively. The Company does not expect remaining expense under the 2020 Plan to be material. For the years ended December 31, 2023, 2022 and 2021, “Restructuring charges, net” were recognized within “Other operating expense, net” in the Consolidated Statements of Operations and consisted of the following. 2023 2022 2021 Industrial Technologies and Services $ 15.1 $ 20.1 $ 8.4 Precision and Science Technologies 4.1 8.7 — Corporate 0.7 0.5 5.0 Restructuring charges, net $ 19.9 $ 29.3 $ 13.4 The following table summarizes the activity associated with the Company’s restructuring programs (included in “Accrued liabilities” in the Consolidated Balance Sheets) for the years ended December 31, 2023 and 2022. 2023 2022 Balance at beginning of period $ 14.9 $ 12.3 Charged to expense - termination benefits 13.0 16.9 Charged to expense - other (1) 4.2 6.4 Payments (17.1) (20.6) Foreign currency translation and other 0.5 (0.1) Balance at end of period $ 15.5 $ 14.9 (1) Excludes $2.7 million and $6.0 million of non-cash charges that impacted restructuring expense but not the restructuring liabilities during the years ended December 31, 2023 and 2022, respectively.

Allowance for Credit Losses

Allowance for Credit Losses	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Allowance for Credit Losses	Allowance for Credit Losses The following table summarized the activity associated with allowance for credit losses for the years ended December 31, 2023, 2022 and 2021. 2023 2022 2021 Balance at beginning of period $ 47.2 $ 42.3 $ 50.9 Provision (benefit) charged to expense (1) 9.4 10.1 (4.3) Write-offs, net of recoveries (3.3) (3.2) (3.8) Foreign currency translation and other 0.5 (2.0) (0.5) Balance at end of period $ 53.8 $ 47.2 $ 42.3 (1) In the fourth quarter of 2021, the Company adjusted its allowance for credit losses in certain major portions of the business due to improved collection experience and reduction of past due receivables. The impact of these updates was a $6.6 million reduction in the allowance, with a corresponding benefit within “Selling and administrative expenses.”

Inventories

Inventories	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories as of December 31, 2023 and 2022 consisted of the following. 2023 2022 Raw materials, including parts and subassemblies $ 590.7 $ 625.0 Work-in-process 145.1 122.2 Finished goods 337.8 338.7 1,073.6 1,085.9 LIFO reserve (72.5) (60.5) Inventories $ 1,001.1 $ 1,025.4 At December 31, 2023 and 2022, 37% and 42%, respectively, of total inventory is accounted for on a last-in, first-out (“LIFO”) basis.

Property, Plant and Equipment

Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment, net as of December 31, 2023 and 2022 consisted of the following. 2023 2022 Land and land improvements $ 67.7 $ 64.6 Buildings 337.1 298.2 Machinery and equipment 655.8 556.6 Office furniture and equipment 71.0 63.1 Construction in progress 80.6 59.3 1,212.2 1,041.8 Accumulated depreciation (500.8) (417.4) Property, plant and equipment, net $ 711.4 $ 624.4

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 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 years ended December 31, 2023 and 2022 are as follows. Industrial Technologies and Services Precision and Science Technologies Total Balance as of December 31, 2021 $ 4,177.3 $ 1,804.3 $ 5,981.6 Acquisitions 121.5 86.4 207.9 Foreign currency translation and other (1) (76.3) (49.0) (125.3) Balance as of December 31, 2022 4,222.5 1,841.7 6,064.2 Acquisitions 509.1 2.4 511.5 Foreign currency translation and other (1) 21.9 12.1 34.0 Balance as of December 31, 2023 $ 4,753.5 $ 1,856.2 $ 6,609.7 (1) Includes measurement period adjustments. The Company acquired multiple businesses during the year ended December 31, 2023. The excess of the purchase price over the estimated fair values of intangible assets, identifiable assets and assumed liabilities was recorded as goodwill. The allocation of the purchase price was preliminary for certain of these acquisitions and is subject to refinement based on final fair values of the identified assets acquired and liabilities assumed. The goodwill attributable to these businesses is as follows. 2023 Acquisitions Industrial Technologies and Services Precision and Science Technologies Total Air Treatment $ 279.9 $ — $ 279.9 Roots 106.6 — 106.6 Other acquisitions 122.6 2.4 125.0 $ 509.1 $ 2.4 $ 511.5 The Company acquired several businesses during the year ended December 31, 2022. The excess of the purchase price over the estimated fair values of intangible assets, identifiable assets and assumed liabilities was recorded as goodwill. The goodwill attributable to these businesses is as follows. 2022 Acquisitions Industrial Technologies and Services Precision and Science Technologies Total Dosatron International $ — $ 57.4 $ 57.4 Other acquisitions 121.5 29.0 150.5 $ 121.5 $ 86.4 $ 207.9 As of December 31, 2023 and 2022, goodwill included a total of $220.6 million of accumulated impairment losses within the Industrial Technologies and Services segment related to impairments recognized in and prior to 2015. Goodwill Impairment Tests Consistent with our accounting policy described in Note 1, we performed our annual goodwill impairment testing as of the first day of our fiscal fourth quarters of 2023, 2022 and 2021. For the years ended December 31, 2023, 2022 and 2021, each reporting unit’s fair value was in excess of its net carrying value, and therefore, no goodwill impairment was recorded. Other Intangible Assets Other intangible assets as of December 31, 2023 and 2022 consisted of the following. December 31, 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 $ 3,279.3 $ (1,585.4) $ 1,693.9 $ 3,029.0 $ (1,286.1) $ 1,742.9 Technology 413.8 (178.9) 234.9 360.0 (124.5) 235.5 Tradenames 52.2 (27.9) 24.3 46.2 (22.7) 23.5 Backlog 3.0 (1.3) 1.7 1.0 (0.3) 0.7 Other 117.1 (104.1) 13.0 113.7 (93.2) 20.5 Unamortized intangible assets: Tradenames 1,643.3 — 1,643.3 1,555.5 — 1,555.5 Total other intangible assets $ 5,508.7 $ (1,897.6) $ 3,611.1 $ 5,105.4 $ (1,526.8) $ 3,578.6 Amortization of intangible assets was $367.5 million, $347.6 million and $332.9 million for the years ended December 31, 2023, 2022 and 2021, respectively. Amortization of intangible assets is anticipated to be approximately $370 million in 2024, $290 million in 2025, $230 million in each of 2026 and 2027 and $200 million in 2028 based upon currency exchange rates as of December 31, 2023. Other Intangible Asset Impairment Tests Consistent with our accounting policy described in Note 1, we performed our annual intangible asset impairment testing as of the first day of our fiscal fourth quarters of 2023, 2022 and 2021. For the years ended December 31, 2023, 2022 and 2021, each tradename’s fair value was in excess of its net carrying value, and therefore, no impairment was recorded.

Accrued Liabilities

Accrued Liabilities	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities as of December 31, 2023 and 2022 consisted of the following: 2023 2022 Salaries, wages and related fringe benefits $ 262.4 $ 223.3 Contract liabilities 331.2 305.6 Product warranty 61.9 46.2 Operating lease liabilities 41.6 39.6 Restructuring 15.5 14.9 Taxes 78.4 63.3 Accrued interest 33.1 1.2 Other 171.4 164.7 Total accrued liabilities $ 995.5 $ 858.8 A reconciliation of the changes in the accrued product warranty liability for the years ended December 31, 2023 and 2022 is as follows. 2023 2022 Balance at beginning of period $ 46.2 $ 42.5 Product warranty accruals 44.4 20.4 Acquired warranty 2.2 — Settlements (31.2) (14.8) Foreign currency translation and other 0.3 (1.9) Balance at end of period $ 61.9 $ 46.2

Debt

Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	Debt Debt as of December 31, 2023 and 2022 consisted of the following. 2023 2022 Short-term borrowings $ 1.0 $ 4.5 Long-term debt Dollar Term Loan B, due 2027 (1)(2) $ 347.7 $ 1,846.3 Dollar Term Loan, due 2027 (1)(2) 892.3 901.4 5.400% Senior Notes due 2028 (1) 498.2 — 5.700% Senior Notes due 2033 (1) 992.6 — Finance leases and other long-term debt 15.2 22.2 Unamortized debt issuance costs (23.4) (21.8) Total long-term debt, net, including current maturities 2,722.6 2,748.1 Current maturities of long-term debt 29.6 32.0 Total long-term debt, net $ 2,693.0 $ 2,716.1 (1) This amount is net of unamortized discounts. Total unamortized discounts were $9.9 million and $2.1 million as of December 31, 2023 and 2022 , respectively. (2) As of December 31, 2023, the applicable interest rate was 7.21% and the weighted-average rate was 6.87% for the year ended December 31, 2023. Senior Notes On August 14, 2023, the Company completed its issuance of $1,500.0 million in aggregate principal amount of senior unsecured notes comprised of $500.0 million aggregate principal amount of 5.400% Senior Notes due August 2028 (the “2028 Senior Notes”) and $1,000.0 million aggregate principal amount of 5.700% Senior Notes due August 2033 (the “2033 Senior Notes” and, together with the 2028 Senior Notes, the “Senior Notes”). The Company used the proceeds of the offering of the Senior Notes to repay a portion of the amounts outstanding under its Senior Secured Credit Facilities. The Senior Notes were issued pursuant to a base indenture, each dated as of August 14, 2023, between the Company and Deutsche Bank Trust Company Americas, as trustee (the “Trustee”), as supplemented by a 2028 Supplemental Indenture No. 1 with respect to the 2028 Senior Notes and a 2033 Senior Notes Supplemental Indenture No. 1 with respect to the 2033 Senior Notes, each dated as of August 14, 2023, between the Company and the Trustee (collectively, the “Indenture”). The interest payment dates for the Senior Notes are February 14 and August 14 of each year, with interest payable in arrears. The Senior Notes are senior unsecured obligations of the Company and rank equally in right of payment with all of the Company’s other senior unsecured indebtedness, senior in right of payment to all of the Company’s subordinated indebtedness, and effectively junior to all of the indebtedness and other liabilities of the Company’s subsidiaries (including the obligations of the Company’s subsidiaries under the Senior Secured Credit Facilities and to all of the Company’s secured indebtedness (including the Company’s obligations under the Senior Secured Credit Facilities) to the extent of the value of the assets securing such secured indebtedness. Prior to (i) July 14, 2028, in the case of the 2028 Senior Notes, and (ii) May 14, 2033, in the case of the 2033 Senior Notes, the Company may redeem the Senior Notes of a series at its option, in whole or in part, at any time from time to time, at a “make-whole” premium, plus accrued and unpaid interest thereon to, but not including, the redemption date. On or after (i) July 14, 2028, in the case of the 2028 Senior Notes, and (ii) May 14, 2033, in the case of the 2033 Senior Notes, the Company may redeem the Senior Notes of a series at its option, in whole or in part, at any time from time to time, at a price equal to 100% of the principal amount of the Senior Notes of such series to be redeemed, plus accrued and unpaid interest thereon to, but not including, the redemption date. If the Company experiences certain types of change of control transactions, the Company must offer to repurchase the Senior Notes at 101% of the aggregate principal amount of the Senior Notes repurchased (or such higher amount as the Company may determine) plus accrued and unpaid interest thereon to, but not including, the date of repurchase. The Indenture contains covenants that limit the Company’s (and its subsidiaries’) ability to, among other things: (i) create liens on certain assets; (ii) consolidate, merge, sell or otherwise dispose of all or substantially all of its consolidated assets; and (iii) enter into sale and leaseback transactions with respect to certain assets. The Indenture also contains customary events of default and covenants for an issuer of investment grade debt securities. Senior Secured Credit Facilities The Company entered into a senior secured credit agreement with UBS AG, Stamford Branch, as administrative agent, and other agents and lenders party thereto (the “Senior Secured Credit Facilities”) on July 30, 2013. The Senior Secured Credit Facilities entered into on July 30, 2013 provided senior secured financing in the equivalent of approximately $2,825.0 million, consisting of: (i) a senior secured term loan facility denominated in U.S. Dollars (the “Original Dollar Term Loan Facility”) in an aggregate principal amount of $1,900.0 million; (ii) a senior secured term loan facility denominated in Euros (the “Original Euro Term Loan Facility”) in an aggregate principal amount of €400.0 million; and (iii) a senior secured revolving credit facility (the “Revolving Credit Facility”) in an aggregate principal amount of $400.0 million available to be drawn in U.S. dollars (“USD”), Euros (“EUR”), Great British Pounds (“GBP”) and other reasonably acceptable foreign currencies, subject to certain sublimits for the foreign currencies. The Revolving Credit Facility included borrowing capacity available for letters of credit up to $200.0 million and for borrowings on same-day notice, referred to as swingline loans. The borrower of the Dollar Term Loan Facility and the Euro Term Loan Facility is Gardner Denver, Inc. Prior to the Company entering into Amendment No. 1, GD German Holdings II GmbH became an additional borrower and successor in interest to Gardner Denver Holdings GmbH & Co. KG. GD German Holdings II GmbH, GD First (UK) Limited and Gardner Denver, Inc. were the listed borrowers under the Revolving Credit Facility. The Company entered into Amendment No. 1 to the Senior Secured Credit Facilities with UBS AG, Stamford Branch, as administrative agent, and the lenders and other parties thereto on March 4, 2016 (“Amendment No.1”), Amendment No. 2 on August 17, 2017 (“Amendment No.2”) and Amendment No. 3 on December 13, 2018 (“Amendment No.3”). Amendment No. 1 reduced the aggregate principal borrowing capacity of the Revolving Credit Facility by $40.0 million to $360.0 million, extended the term of the Revolving Credit Facility to April 30, 2020 with respect to consenting lenders and provided for customary bail-in provisions to address certain European regulatory requirements. On July 30, 2018, the Revolving Credit Facility principal borrowing capacity decreased to $269.9 million resulting from the maturity of the tranches of the Revolving Credit Facility which were owned by lenders that elected not to modify the original Revolving Credit Facility maturity date. Amendment No. 1 reduced the minimum aggregate principal amount for extension amendments to the facilities from $50.0 million to $35.0 million. Amendment No. 2 refinanced the Original Dollar Term Loan Facility with a replacement $1,285.5 million senior secured U.S. dollar term loan facility (the “New Dollar Term Loan Facility”) and the Original Euro Term Loan Facility with a replacement €615.0 million senior secured euro term loan facility (the “New Euro Term Loan Facility”). Further the maturity for both term loan facilities was extended to July 30, 2024 and LIBOR Floor was reduced from 1.0% to 0.0%. Amendment No. 3 amended the definition of “Change of Control” to (i) remove the requirement that certain specified equity holders maintain a minimum ownership level of the outstanding voting stock of the Company, (ii) increase the threshold at which the acquisition of ownership by a person, entity or group of other equity holders constitutes a “Change of Control” from 35% of the outstanding voting stock of the Company to 50% of the outstanding voting stock of the Company and (iii) make certain other corresponding technical changes and updates. The Company entered into Amendment No. 4 to the Senior Secured Credit Facilities with UBS AG, Stamford Branch, as Resigning Agent and Citibank, N.A. as Successor Agent on June 28, 2019 (“Amendment No. 4”). Amendment No. 4 (i) refinanced the existing senior secured revolving credit facility with a replacement $450.0 million senior secured revolving credit facility (the “New Revolving Credit Facility”); (ii) extended the maturity of the revolving credit facility to June 28, 2024, (iii) terminated the revolving credit facility commitments of certain lenders under the existing senior secured revolving credit facility under the Senior Secured Credit Facilities, (iv) provided for up to $200.0 million of the New Revolving Credit Facility to be available for the purpose of issuing letters of credit; (v) provided for the replacement of GD First (UK) Limited by Gardner Denver Holdings, Ltd. as the UK Borrower under the Senior Secured Credit Facilities; (vi) transferred the Administrative Agent, Collateral Agent and Swingline Lender roles under the Senior Secured Credit Facilities to Citibank, N.A; and (vii) made certain other corresponding technical changes and updates. At the consummation of the merger between Gardner Denver Holdings, Inc., and Ingersoll-Rand plc, Amendment No. 4 increased the aggregate amount of the New Revolving Credit Facility to $1,000.0 million and increased the capacity under the New Revolving Credit Facility to issue letters of credit to $400.0 million. On February 28, 2020, the Company entered into Amendment No. 5 to the Credit Agreement (“Amendment No. 5”). Amendment No. 5 refinanced the existing New Dollar Term Loan Facility and New Euro Term Loan Facility. The proceeds from the replacement $927.6 million Dollar Term Loan (“Dollar Term Loan”) and replacement €601.2 million Euro Term Loan (“Euro Term Loan”) were used to refinance the outstanding New Dollar Term Loan Facility and New Euro Term Loan Facility. The proceeds from the Dollar Term Loan and the Euro Term Loan were reduced by an original issue discount of $1.2 million and €0.8 million, respectively. The Euro Term Loan and Dollar Term Loan will mature on February 28, 2027. The refinancing of the New Dollar Term Loan and the New Euro Term Loan resulted in the write off of unamortized debt issuance costs of $2.0 million which was presented within “Loss on extinguishment of debt” in the Consolidated Statements of Operations. At the time of the acquisition of Ingersoll Rand Industrial, the Credit Agreement was amended to include an additional $1,900.0 million senior secured term loan (“Dollar Term Loan B”) by and among Ingersoll-Rand Services Company, as the borrower, the lenders party thereto and Citi, as the administrative agent. Further, Ingersoll-Rand Services Company, the borrower with respect to the Dollar Term Loan B, was designated as an additional borrower under the Credit Agreement. The Dollar Term Loan B and the Dollar Term Loan and the Euro Term Loan have guarantees from the same credit parties and are secured by the same collateral. The Dollar Term Loan B will mature on February 28, 2027. The proceeds from the $1,900.0 million Dollar Term Loan B were reduced by a $2.4 million original issue discount. On February 29, 2020, the aggregate amount of the Revolving Credit Facility increased to $1,000.0 million and the capacity under the Revolving Credit Facility to issue letters of credit increased to $400.0 million. On June 29, 2020, the Company entered into Amendment No. 6 to the Credit Agreement (“Amendment No. 6”). Amendment No. 6 (i) provided for $400.0 million of incremental term loans (“Dollar Term Loan Series A”), reduced by an original issue discount of $6.0 million, and (ii) established an increase of $100.0 million to the Revolving Credit Facility, bringing the total sum of the Revolving Credit Facility to $1,100.0 million. The proceeds were expected to be used for general business purposes, including providing incremental liquidity in the event of a prolonged adverse impact of the COVID-19 pandemic. On September 30, 2021, the Company elected to prepay the Dollar Term Loan Series A outstanding principal balance of $396.0 million using cash on hand. The prepayment resulted in the write-off of unamortized debt issuance costs and unamortized issuance discount of $9.0 million which was recognized in “Loss on extinguishment of debt” in the Consolidated Statements of Operations. On December 28, 2021, Gardner Denver, Inc. entered into Amendment No. 7 to the Credit Agreement (“Amendment No. 7”). Amendment No. 7 was entered into pursuant to the terms of the Senior Secured Credit Facilities to provide for (i) the change of the underlying rate for borrowings denominated in GBP from a LIBOR-based rate to a SONIA-based rate (Sterling Overnight Index Average), subject to certain adjustments and terms specified in Amendment No. 7, (ii) the change of the underlying rate for borrowings denominated in EUR from a LIBOR-based rate to a EURIBOR-based rate, subject to certain adjustments and terms specified in Amendment No. 7, and (iii) certain other updates and corresponding changes regarding successor interest rates to LIBOR. The Senior Secured Credit Facilities provide that the Company will have the right at any time to request incremental term loans and/or revolving commitments in an aggregate principal amount of up to (i) the greater of (a) $1,600 million and (b) 100% of Consolidated EBITDA (as defined in the Senior Secured Credit Facilities) for the most recently ended four consecutive fiscal quarter period plus (ii) voluntary prepayments and voluntary commitment reductions of the Senior Secured Credit Facilities and certain other permitted indebtedness prior to the date of any such incurrence plus (iii) an additional amount equal to (a) in the case of incremental loans and/or commitments that are secured on an equal priority basis with the Senior Secured Credit Facilities, an amount such that after giving effect to the incurrence of such additional amount, the Company does not exceed a Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio (as defined in the Senior Secured Credit Facilities) of 4.50 to 1.00 or the Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio immediately prior to any such incurrence and all transactions consummated in connection therewith or (b) in the case of incremental loans and/or commitments that are secured on a junior priority basis to the Senior Secured Credit Facilities, an amount such that after giving effect to the incurrence of such additional amount, the Company does not exceed a Consolidated Total Debt to Consolidated EBITDA Ratio (as defined in the Senior Secured Credit Facilities) of 5.00 to 1.00 or the Consolidated Total Debt to Consolidated EBITDA Ratio immediately prior to any such incurrence and all transactions consummated in connection therewith. The lenders under the Senior Secured Credit Facilities are not under any obligation to provide any such incremental commitments or loans, and any such addition of, or increase in commitments or loans, will be subject to certain customary conditions. In April 2022, the Company and its lenders executed Amendment No. 8 to the Credit Agreement, the primary purpose of which was to change the reference rate for existing and new borrowings under the Credit Agreement by replacing LIBOR with the Secured Overnight Financing Rate. 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. 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. In August 2023, the Company repaid a portion of the Dollar Term Loan B which resulted in the write-off of unamortized discounts and debt issuance costs of $12.6 million, which was recognized in “Loss on extinguishment of debt” in the Consolidated Statements of Operations. As of December 31, 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 December 31, 2023, the Company had no outstanding borrowings, no outstanding letters of credit under the New Revolving Credit Facility and unused availability of $2,000.0 million. Interest Rate and Fees Borrowings under the Dollar Term Loan, Dollar Term Loan B, and Revolving Credit Facility (other than Revolving Credit Facility borrowings in GBP or EUR) bear interest at a rate equal to, at the Company’s option, either (a) the greater of SOFR for the relevant interest period or 0.00% per annum, in each case adjusted for statutory reserve requirements, plus an applicable margin or (b) a base rate (the “Base Rate”) equal to the highest of (1) the rate of interest publicly announced by the administrative agent as its prime rate in effect at its principal office, (2) the federal funds effective rate plus 0.50%, (3) SOFR for an interest period of one month, adjusted for statutory reserve requirements, plus 1.00% and (4) 1.00%, in each case, plus an applicable margin. Borrowings under the Euro Term Loan and Revolving Credit Facility borrowings in EUR (if any) bear interest at a rate equal to the greater of EURIBOR for the relevant interest period, or 0.00% per annum, in each case adjusted for statutory reserve requirements, plus an applicable margin. Borrowings under the Revolving Credit Facility in GBP (if any) bear interest at a rate equal to the greater of (a) daily simple SONIA plus an applicable spread adjustment or (b) 0.00% per annum, in each case adjusted for statutory reserve requirements, plus an applicable margin. The applicable margin for (i) the Dollar Term Loan is 1.75% for SOFR loans and 0.75% for base rate loans, (ii) the Dollar Term Loan B is 1.75% for SOFR loans and 0.75% for base rate loans, (iii) the Euro Term Loan is 2.00%, (iv) the Revolving Credit Facility is 2.00% for SOFR loans, EURIBOR loans and SONIA loans and 1.00% for Base Rate loans. In addition to interest payments on outstanding principal under the Senior Secured Credit Facilities, the Company is required to pay a commitment fee of 0.375% per annum to the lenders under the Revolving Credit Facility in respect of the unutilized commitments thereunder. The commitment fee reduces to 0.25% or 0.125% upon the achievement of a Level I or Level II status, respectively. Level I status means that the Company’s Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio (as defined in the Senior Secured Credit Facilities) is less than or equal to 1.75 to 1.00. Level II status means that the Company’s Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio is less than or equal to 1.50 to 1.00. The Company must also pay customary letter of credit fees. Prepayments The Senior Secured Credit Facilities require the Company to prepay outstanding term loans, subject to certain exceptions, with (i) 50% of annual excess cash flow (as defined in the Senior Credit Facilities) commencing with the fiscal year ending December 31, 2021 (which percentage will be reduced to 25% if the Company’s Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio is less than or equal to 2.25 to 1.00 but greater than 2.00 to 1.00, and which prepayment will not be required if the Company’s Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio is less than or equal to 2.00 to 1.00), (ii) 100% of the net cash proceeds of non-ordinary asset sales or other dispositions of property, subject to reinvestment rights (which percentage will be reduced to 50% if the Company’s Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio is less than or equal to 2.25 to 1.00 but greater than 2.00 to 1.00 and which prepayment will not be required if the Company’s Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio is less than or equal to 2.00 to 1.00), and (iii) 100% of the net cash proceeds of any incurrence of debt, other than proceeds from debt permitted under the Credit Agreement. The mandatory prepayments will be applied to the scheduled installments of principal of the term loans in direct order of maturity. The Company may voluntarily repay outstanding loans under the Senior Secured Credit Facilities at any time without premium or penalty, subject to certain customary conditions, including reimbursements of the lenders’ redeployment costs actually incurred in the case of a prepayment of certain borrowings other than on the last day of the relevant interest period, provided that (i) any voluntary prepayment of the Dollar Term Loan, the Dollar Term Loan B or the Euro Term Loan prior to August 28, 2020, in connection with a repricing transaction would have been subject to a prepayment premium of 1.00% of the principal amount so prepaid and (ii) any voluntary prepayment of Dollar Term Loan Series A prior to December 29, 2020, in connection with a repricing transaction would have been subject to a prepayment premium of 1.00% of the principal amount so prepaid. Amortization and Final Maturity The Dollar Term Loan, Dollar Term Loan B and Euro Term Loan amortize in equal to quarterly installments in aggregate annual amounts equal to 1.00% of the original principal amount of such term loan, with the balances payable on February 28, 2027. Guarantee and Security All obligations of the borrowers under the Senior Secured Credit Facilities are unconditionally guaranteed by the Company and all of its material, wholly-owned U.S. restricted subsidiaries, with customary exceptions including where providing such guarantees are not permitted by law, regulation or contract or would result in adverse tax consequences. All obligations of the borrowers under the Senior Secured Credit Facilities, and the guarantees of such obligations, are secured, subject to permitted liens and other exceptions, by substantially all of the assets of the borrowers and each guarantor, including but not limited to: (i) a perfected pledge of the capital stock issued by the borrowers and each subsidiary guarantor and (ii) perfected security interests in substantially all other tangible and intangible assets of the borrowers and the guarantors (subject to certain exceptions and exclusions). The obligations of the non-U.S. borrowers are secured by certain assets in jurisdictions outside of the United States. Certain Covenants and Events of Default The Senior Secured Credit Facilities contain a number of covenants that, among other things, restrict, subject to certain exceptions, the Company’s ability to: incur additional indebtedness and guarantee indebtedness; create or incur liens; engage in mergers or consolidations; sell, transfer or otherwise dispose of assets; create limitations on subsidiary distributions; pay dividends and distributions or repurchase its own capital stock; and make investments, loans or advances, prepayments of junior financings, or other restricted payments. The Revolving Credit Facility requires that, if the sum of the aggregate principle amount of all borrowings under the Revolving Credit Facility and non-cash collateralized letters of credit outstanding under the Revolving Credit Facility (less the amount of letters of credit outstanding as of June 28, 2019) exceeds 40% of the commitments under the Revolving Credit Facility, the Company’s Consolidated First Lien Secured Debt to Consolidated EBITDA Ratio shall not exceed 6.25 to 1.00 as of the last day of the fiscal quarter. The Senior Secured Credit Facilities also contain certain customary affirmative covenants and events of default. Fair Value of Debt The fair value of the Company's debt instruments at December 31, 2023 was $2.8 billion. The Company measures the fair value of its debt instruments for disclosure purposes based upon observable market prices quoted on public exchanges for similar assets. These fair value inputs are considered Level 2 within the fair value hierarchy. See Note 20, "Fair Value Measurements" for information on the fair value hierarchy. Total Debt Maturities Total debt maturities for the five years subsequent to December 31, 2023 and thereafter are $30.6 million, $30.0 million, $29.7 million, $1,157.3 million, $501.5 million and $1,007.8 million, respectively.

Benefit Plans

Benefit Plans	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Benefit Plans	Benefit Plans Pension and Postretirement Benefit Plans The Company sponsors a number of pension and postretirement plans worldwide. Pension plan benefits are provided to employees under defined benefit pay-related and service-related plans, which are non-contributory in nature. The Company’s funding policy for the U.S. defined benefit pension plans is to contribute at least the minimum required contribution required by Employee Retirement Income Security Act (“ERISA”), as amended by the Pension Protection Act of 2016 (as amended by MAP-21, HAFTA, and BBA 15). The Company intends to make contributions, as necessary, to prevent benefit restrictions in the plans. The Company’s annual contributions to the non-U.S. pension plans are consistent with the requirements of applicable local laws. The Company also provides postretirement healthcare and life insurance benefits to a limited group of current and retired employees, primarily in the United States. All of the Company’s postretirement benefit plans are unfunded. The following table provides a reconciliation of the changes in the benefit obligations and in the fair value of the plan assets for the periods described below. Pension Benefits Other Postretirement Benefits U.S. Plans Non-U.S. Plans 2023 2022 2023 2022 2023 2022 Reconciliation of Benefit Obligations: Beginning balance $ 319.8 $ 441.8 $ 247.5 $ 396.2 $ 21.0 $ 28.7 Service cost 0.1 4.4 2.6 3.3 — — Interest cost 15.7 11.3 11.1 5.9 0.9 0.7 Plan amendments — — 0.3 — — — Actuarial losses (gains) (1) 6.0 (105.0) 3.3 (112.0) (1.0) (5.0) Benefit payments (16.1) (26.5) (13.6) (11.2) (2.7) (3.3) Plan settlements (31.5) (6.2) — — — — Effect of foreign currency exchange rate changes — — 12.0 (34.7) 0.1 (0.1) Benefit obligations ending balance $ 294.0 $ 319.8 $ 263.2 $ 247.5 $ 18.3 $ 21.0 Reconciliation of Fair Value of Plan Assets: Beginning balance $ 263.6 $ 384.7 $ 196.4 $ 297.7 Actual return on plan assets 18.7 (92.5) 6.7 (66.9) Employer contributions 2.8 4.1 6.6 5.9 Benefit payments (16.1) (26.5) (13.6) (11.2) Plan settlements (31.5) (6.2) — — Effect of foreign currency exchange rate changes — — 9.9 (29.1) Fair value of plan assets ending balance $ 237.5 $ 263.6 $ 206.0 $ 196.4 Funded Status as of Period End $ (56.5) $ (56.2) $ (57.2) $ (51.1) $ (18.3) $ (21.0) (1) Actuarial losses (gains) primarily resulted from changes in discount rates. Amounts recognized as a component of accumulated other comprehensive income (loss) as of December 31, 2023 and 2022 that have not been recognized as a component of net periodic benefit cost are presented in the following table. Pension Benefits Other Postretirement Benefits U.S. Plans Non-U.S. Plans 2023 2022 2023 2022 2023 2022 Net actuarial gains $ (11.0) $ (11.8) $ (1.1) $ (10.4) $ (4.3) $ (4.4) Prior service cost — — 2.9 2.6 0.1 0.1 Amounts included in accumulated other comprehensive income (loss) $ (11.0) $ (11.8) $ 1.8 $ (7.8) $ (4.2) $ (4.3) Pension and other postretirement benefit liabilities and assets are included in the following captions in the Consolidated Balance Sheets as of December 31, 2023 and 2022. 2023 2022 Other assets $ 18.8 $ 17.8 Accrued liabilities (6.2) (9.1) Pension and other postretirement benefits (144.6) (137.0) The following table provides information for pension plans with an accumulated benefit obligation in excess of plan assets as of December 31, 2023 and 2022. U.S. Pension Plans Non-U.S. Pension Plans 2023 2022 2023 2022 Projected benefit obligations $ 294.0 $ 319.8 $ 105.4 $ 96.2 Accumulated benefit obligation 294.0 319.8 86.4 81.1 Fair value of plan assets 237.5 263.6 17.0 17.3 The accumulated benefit obligation for all U.S. defined benefit pension plans was $294.0 million and $319.8 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for all non-U.S. defined benefit pension plans was $254.8 million and $237.1 million as of December 31, 2023 and 2022, respectively. The following tables provide the components of net periodic benefit cost (income) and other amounts recognized in other comprehensive income (loss), before income tax effects, for the years ended December 31, 2023, 2022 and 2021. U.S. Pension Plans 2023 2022 2021 Net Periodic Benefit Cost: Service cost $ 0.1 $ 4.4 $ 5.3 Interest cost 15.7 11.3 10.8 Expected return on plan assets (13.2) (13.0) (12.2) Amortization of net actuarial loss 0.1 — — Net periodic benefit cost 2.7 2.7 3.9 Gain due to settlement (0.4) (0.5) (0.6) Total net periodic benefit cost recognized $ 2.3 $ 2.2 $ 3.3 Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss): Net actuarial loss (gain) $ 0.5 $ 0.4 $ (12.5) Amortization of net actuarial gain 0.3 0.5 0.6 Total recognized in other comprehensive income (loss) $ 0.8 $ 0.9 $ (11.9) Total recognized in net periodic benefit cost and other comprehensive income (loss) $ 3.1 $ 3.1 $ (8.6) Non-U.S. Pension Plans 2023 2022 2021 Net Periodic Benefit Cost (Income): Service cost $ 2.6 $ 3.3 $ 4.3 Interest cost 11.1 5.9 4.6 Expected return on plan assets (11.0) (11.8) (12.2) Amortization of prior service cost 0.1 0.1 0.2 Amortization of net actuarial loss (1.7) 0.3 4.9 Total net periodic benefit cost (income) recognized $ 1.1 $ (2.2) $ 1.8 Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss): Net actuarial loss (gain) $ 7.5 $ (33.3) $ (43.3) Amortization of net actuarial gain (loss) 1.7 (0.3) (4.9) Prior service cost 0.3 — — Amortization of prior service cost (0.1) (0.1) (0.2) Effect of foreign currency exchange rate changes 0.3 (3.2) (1.4) Total recognized in other comprehensive income (loss) $ 9.7 $ (36.9) $ (49.8) Total recognized in net periodic benefit cost (income) and other comprehensive income (loss) $ 10.8 $ (39.1) $ (48.0) Other Postretirement Benefits 2023 2022 2021 Net Periodic Benefit Cost (Income): Interest cost $ 0.9 $ 0.7 $ 0.6 Amortization of prior service cost 0.1 — 0.1 Amortization of net actuarial loss (1.1) — 0.1 Total net periodic benefit cost (income) recognized $ (0.1) $ 0.7 $ 0.8 Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss): Net actuarial gain $ (1.0) $ (5.0) $ (1.6) Amortization of net actuarial loss 1.1 — (0.1) Prior service cost — — 1.9 Amortization of prior service cost (0.1) — (0.1) Total recognized in other comprehensive income (loss) $ — $ (5.0) $ 0.1 Total recognized in net periodic benefit cost (income) and other comprehensive income (loss) $ (0.1) $ (4.3) $ 0.9 The discount rate selected to measure the present value of the Company’s benefit obligations was derived by examining the rates of high-quality, fixed income securities whose cash flows or duration match the timing and amount of expected benefit payments under a plan. The Company selects the expected long-term rate of return on plan assets in consultation with the plans’ advisors. This rate is intended to reflect the expected average rate of earnings on the funds invested or to be invested to provide plan benefits and the Company’s most recent plan assets target allocations. In estimating the expected long-term rate of return on plan assets, appropriate consideration is given to historical performance of the major asset classes held or anticipated to be held by the plans and to current forecasts of future rates of return for those asset classes. Because assets are held in qualified trusts, expected returns are not adjusted for taxes. The following actuarial assumptions were used to determine net periodic benefit cost (income) and benefit obligations for the years ended December 31, 2023, 2022 and 2021. U.S. Pension Plans Non-U.S. Pension Plans 2023 2022 2021 2023 2022 2021 Weighted-average actuarial assumptions used to determine net periodic benefit cost: Discount rate 5.2 % 2.7 % 2.4 % 4.5 % 1.6 % 1.1 % Expected long-term rate of return on plan assets 5.4 % 3.5 % 3.2 % 5.5 % 4.4 % 4.3 % Rate of compensation increases N/A 3.0 % 3.0 % 4.3 % 4.3 % 3.1 % Weighted-average actuarial assumptions used to determine benefit obligations: Discount rate 5.0 % 5.2 % 2.7 % 4.2 % 4.5 % 1.6 % Rate of compensation increases N/A N/A 3.0 % 5.0 % 4.3 % 4.3 % The following actuarial assumptions were used to determine other postretirement benefit plans costs and obligations for the years ended December 31, 2023, 2022 and 2021. Other Postretirement Benefits 2023 2022 2021 Discount rate used to determine net periodic benefit cost 4.9% - 5.2% 2.4% - 3.0% 1.8% - 2.4% Discount rate used to determine benefit obligations 4.9% - 5.1% 4.9% - 5.2% 2.4% - 3.0% Weighted-average actuarial assumptions used to determine other postretirement benefit plans costs and obligations: Healthcare cost trend rate assumed for next year 6.8 % 6.8 % 6.8 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 4.4 % 4.5 % 4.5 % Year that the date reaches the ultimate trend rate 2035 2034 2034 The following table reflects the estimated benefit payments for the next five years and for the years 2029 through 2033. The estimated benefit payments for the non-U.S. pension plans were calculated using foreign exchange rates as of December 31, 2023. Pension Benefits Other Postretirement Benefits U.S. Plans Non-U.S. Plans 2024 $ 26.2 $ 13.8 $ 2.5 2025 23.9 14.8 2.3 2026 23.3 15.0 2.1 2027 22.6 14.7 2.0 2028 22.4 15.4 1.8 Aggregate 2029-2033 105.6 85.0 6.7 In 2024, the Company expects to contribute $5.1 million to the U.S. pension plans, $6.7 million to the non-U.S. pension plans, and $2.5 million to the other postretirement benefit plans. Plan Asset Investment Strategy The Company’s overall investment strategy and objectives for its pension plan assets is to (i) meet current and future benefit payment needs through diversification across asset classes, investing strategies and investment managers to achieve an optimal balance between risk and return and between income and growth of assets through capital appreciation, (ii) secure participant retirement benefits, (iii) minimize reliance on contributions as a source of benefit security, and (iv) maintain sufficient liquidity to pay benefit obligations and proper expenses. The composition of the actual investments in various securities changes over time based on short and long-term investment opportunities. None of the plan assets of Ingersoll Rand’s defined benefit plans are invested in the Company’s common stock. The Company uses both active and passive investment strategies. Plan Asset Risk Management The target financial objectives for the pension plans are established in conjunction with periodic comprehensive reviews of each plan’s liability structure. The Company’s asset allocation policy is based on detailed asset and liability model (“ALM”) analyses. A formal ALM study of each major plan is undertaken every 2-5 years or whenever there has been a material change in plan demographics, benefit structure, or funded status. In order to determine the recommended asset allocation, the advisors model varying return and risk levels for different theoretical portfolios, using a relative measure of excess return over treasury bills, divided by the standard deviation of the return (the “Sharpe Ratio”). The Sharpe Ratio for different portfolio options was used to compare each portfolio’s potential return, on a risk-adjusted basis. The Company selected a recommended portfolio that achieved the targeted composite return with the least amount of risk. The Company’s primary pension plans are in the U.S. and UK which together comprise 79% of the total benefit obligations and 90% of total plan assets as of December 31, 2023. The following table presents the long-term target allocations for these plans as of December 31, 2023. U.S. Plans UK Plan Asset category: Equity 13 % 18 % Fixed income 84 % 72 % Real estate and other 3 % 10 % Total 100 % 100 % Fair Value Measurements The following tables present the fair values of the Company’s pension plan assets as of December 31, 2023 and 2022 by asset category within the ASC 820 hierarchy (as defined in Note 20 “Fair Value Measurements”). December 31, 2023 Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs Investments Measured at NAV (5) Total Asset Category Cash and cash equivalents (1) $ 7.1 $ — $ — $ — $ 7.1 Equity funds: U.S. small-cap — — — 3.7 3.7 U.S. large-cap — 2.0 — 17.5 19.5 International equity (2) 14.2 10.5 — 17.2 41.9 Total equity funds 14.2 12.5 — 38.4 65.1 Fixed income funds: Corporate bonds - international — 26.9 — 15.8 42.7 UK index-linked gilts — 78.7 — — 78.7 U.S. fixed income - government securities — — — 43.2 43.2 U.S. fixed income - short duration — — — 1.3 1.3 U.S. fixed income - intermediate duration — — — 30.9 30.9 U.S. fixed income - long corporate — — — 122.3 122.3 Global fixed income — — — 7.2 7.2 Total fixed income funds — 105.6 — 220.7 326.3 Other types of investments: International real estate (3) — 15.4 — — 15.4 Other (4) — 29.6 — 29.6 Total $ 21.3 $ 133.5 $ 29.6 $ 259.1 $ 443.5 December 31, 2022 Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs Investments Measured at NAV (5) Total Asset Category Cash and cash equivalents (1) $ 3.2 $ — $ — $ — $ 3.2 Equity funds: U.S. small-cap — — — 3.8 3.8 U.S. large-cap — 3.9 — 18.5 22.4 International equity (2) 20.1 16.9 — 27.5 64.5 Total equity funds 20.1 20.8 — 49.8 90.7 Fixed income funds: Corporate bonds - international — 44.6 — 7.6 52.2 UK index-linked gilts — 41.6 — — 41.6 U.S. fixed income - government securities — — — 33.1 33.1 U.S. fixed income - short duration — — — 1.8 1.8 U.S. fixed income - intermediate duration — — — 50.3 50.3 U.S. fixed income - long corporate — — — 135.7 135.7 Global fixed income — — — 8.0 8.0 Total fixed income funds — 86.2 — 236.5 322.7 Other types of investments: International real estate (3) — 16.6 — — 16.6 Other (4) — 26.8 — 26.8 Total $ 23.3 $ 123.6 $ 26.8 $ 286.3 $ 460.0 (1) Cash and cash equivalents consist of traditional domestic and foreign highly liquid short-term securities with the goal of providing liquidity and preservation of capital while maximizing return on assets. (2) The International category consists of investment funds focused on companies operating in developed and emerging markets outside of the U.S. These investments target broad diversification across large and mid/small-cap companies and economic sectors. (3) International real estate consists primarily of equity and debt investments made, directly or indirectly, in various interests in unimproved and improved real properties. (4) Other investments consist of insurance and reinsurance contracts securing the retirement benefits. The fair value of these contracts was calculated at the discount value of premiums paid by the Company, less expenses charged by the insurance providers. The insurance providers with which the Company has placed these contracts are well-known financial institutions with an established history of providing insurance services. (5) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. Defined Contribution Plans The Company also sponsors defined contribution plans at various locations throughout the world. Benefits are determined and funded regularly based on terms of the plans or as stipulated in a collective bargaining agreement. The Company’s full-time salaried and hourly employees in the U.S. are eligible to participate in Company-sponsored defined contribution savings plans, which are qualified plans under the requirements of Section 401(k) of the Internal Revenue Code. The Company’s contributions to the savings plans are in the form of cash. The Company’s total contributions to all worldwide defined contribution plans for the years ended December 31, 2023, 2022, and 2021 were $47.0 million, $46.6 million and $40.6 million, respectively. Other Benefit Plans There are various other employment contracts, deferred compensation arrangements, covenants not to compete, and change in control agreements with certain employees and former employees. The Company offers a long-term service award program for qualified employees at certain of its non-U.S. locations. Under this program, qualified employees receive a service gratuity (“Jubilee”) payment once they have achieved a certain number of years of service. The liabilities associated with such arrangements are not material to the Company’s consolidated financial statements.

Stockholders' Equity and Noncon

Stockholders' Equity and Noncontrolling Interests	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Stockholders' Equity and Noncontrolling Interests	Stockholders’ Equity and Noncontrolling Interests Stockholders’ Equity As of December 31, 2023 and 2022, 1,000,000,000 shares of voting common stock were authorized. Shares of common stock outstanding wer e 403,347,394 and 405,117,710 as of December 31, 2023 and 2022, respectively. The Company is governed by the General Corporation Law of the State of Delaware. All authorized shares of voting common stock have a par value of $0.01. Shares of common stock reacquired are considered issued and reported as Treasury shares. Noncontrolling Interests The Company has a controlling interest of approximately 75% of the common shares of Ingersoll-Rand India Limited. The remaining shares are owned by unaffiliated shareholders and traded on India stock exchanges regulated by Securities and Exchange Board of India. Share Repurchase Program On August 24, 2021, the Board of Directors of Ingersoll Rand authorized a share repurchase program pursuant to which the Company may repurchase up to $750.0 million of its common stock (the “2021 Repurchase Program”). Under the repurchase program, Ingersoll Rand is authorized to repurchase shares through open market purchases, privately-negotiated transactions or otherwise in accordance with all applicable securities laws and regulations, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Securities Exchange Act of 1934, as amended. For the year ended December 31, 2023, the Company repurchased 3,963,243 shares under the 2021 Repurchase Program at a weighted average price of $62.98 per share for an aggregate value of $249.6 million. For the year ended December 31, 2022, the Company repurchased 5,673,937 shares under the 2021 Repurchase Program at a weighted average price of $45.36 per share for an aggregate value of $257.3 million. There were no shares repurchased under the 2021 Repurchase Program for the year ended December 31, 2021. Other Share Repurchases On August 6, 2021, affiliates of Kohlberg Kravis Roberts & Co. L.P. (“KKR”) completed a secondary offering to sell its remaining 29,788,635 shares of common stock, of which Ingersoll Rand purchased 14,894,317 shares for $49.05 per share.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The 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 intercompany notes of a long-term nature and certain hedges of net investments in foreign operations, net of income taxes; (iii) unrealized gains and losses on cash flow hedges, net of income taxes; and (iv) pension and other postretirement prior service cost and actuarial gains or losses, net of income taxes. See Note 12 “Benefit Plans” and Note 19 “Hedging Activities, Derivative Instruments and Credit Risk.” The before tax income (loss) and related income tax effect are as follows. Foreign Currency Translation Adjustments, Net Cash Flow Hedges Pension and Other Postretirement Benefit Plans Total Balance as of December 31, 2020 $ 74.6 $ — $ (60.4) $ 14.2 Before tax income (loss) (119.9) — 61.6 (58.3) Income tax effect 16.9 — (12.9) 4.0 Other comprehensive income (loss) (103.0) — 48.7 (54.3) Divestiture of foreign subsidiaries (1.5) — — (1.5) Balance as of December 31, 2021 $ (29.9) $ — $ (11.7) $ (41.6) Before tax income (loss) (237.1) 21.3 41.0 (174.8) Income tax effect (15.8) (5.3) (14.2) (35.3) Other comprehensive income (loss) (252.9) 16.0 26.8 (210.1) Balance as of December 31, 2022 $ (282.8) $ 16.0 $ 15.1 $ (251.7) Before tax income (loss) 23.0 (5.1) (10.5) 7.4 Income tax effect 11.8 1.3 3.6 16.7 Other comprehensive income (loss) 34.8 (3.8) (6.9) 24.1 Balance as of December 31, 2023 $ (248.0) $ 12.2 $ 8.2 $ (227.6) 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 $1.7 million, $(7.2) million and $(2.3) million for the years ended December 31, 2023, 2022 and 2021, respectively, and related entirely to foreign currency translation adjustments. Changes in accumulated other comprehensive income (loss) by component for the periods described below are presented in the following table (1) . Foreign Currency Translation Adjustments, Net Cash Flow Hedges Pension and Other Postretirement Benefit Plans Total Balance as of December 31, 2020 $ 74.6 $ — $ (60.4) $ 14.2 Other comprehensive income (loss) before reclassifications (103.0) — 45.2 (57.8) Amounts reclassified from accumulated other comprehensive income (loss) — — 3.5 3.5 Other comprehensive income (loss) (103.0) — 48.7 (54.3) Divestiture of foreign subsidiaries (1.5) — — (1.5) Balance as of December 31, 2021 $ (29.9) $ — $ (11.7) $ (41.6) Other comprehensive income (loss) before reclassifications (244.3) 13.9 26.9 (203.5) Amounts reclassified from accumulated other comprehensive income (loss) (8.6) 2.1 (0.1) (6.6) Other comprehensive income (loss) (252.9) 16.0 26.8 (210.1) Balance as of December 31, 2022 $ (282.8) $ 16.0 $ 15.1 $ (251.7) Other comprehensive income (loss) before reclassifications 49.0 7.9 (4.7) 52.2 Amounts reclassified from accumulated other comprehensive income (loss) (14.2) (11.7) (2.2) (28.1) Other comprehensive income (loss) 34.8 (3.8) (6.9) 24.1 Balance as of December 31, 2023 $ (248.0) $ 12.2 $ 8.2 $ (227.6) (1) All amounts are net of tax. Amounts in parentheses indicate debits. Reclassifications out of accumulated other comprehensive income (loss) for the years ended December 31, 2023, 2022 and 2021 are presented in the following table. Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Details about Accumulated Other Comprehensive Income (Loss) Components 2023 2022 2021 Affected Line(s) in the Statement Where Net Income is Presented Cash flow hedges $ (15.6) $ 2.8 $ — Interest expense Benefit for income taxes 3.9 (0.7) — Benefit for income taxes Cash flow hedges, net of tax $ (11.7) $ 2.1 $ — Net investment hedges $ (19.0) $ (11.5) $ — Interest expense Provision for income taxes 4.8 2.9 — Benefit for income taxes Net investment hedges, net of tax $ (14.2) $ (8.6) $ — Amortization of defined benefit pension and other postretirement benefit items (1) $ (2.9) $ (0.1) $ 4.7 Cost of sales and Selling and administrative expenses Benefit for income taxes 0.7 — (1.2) Benefit for income taxes Amortization of defined benefit pension and other postretirement benefit items, net of tax $ (2.2) $ (0.1) $ 3.5 Total reclassifications for the period $ (28.1) $ (6.6) $ 3.5 (1) These components are included in the computation of net periodic benefit cost. See Note 12 “Benefit Plans” for additional details.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Overview The Company recognizes revenue when it 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 and liquidated damages, 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. Judgements impacting variable consideration related to material rebate and sales discount programs, and significant contracts containing liquidated damage clauses are governed by management review processes. 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 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 Consolidated Statements of Operations. Disaggregation of Revenue The following table provides disaggregated revenue by reportable segment for the years ended December 31, 2023 and 2022. Industrial Technologies and Services Precision and Science Technologies Total 2023 2022 2023 2022 2023 2022 Primary Geographic Markets United States $ 2,328.0 $ 1,900.3 $ 567.2 $ 550.1 $ 2,895.2 $ 2,450.4 Other Americas 373.1 320.5 29.0 29.7 402.1 350.2 Total Americas 2,701.1 2,220.8 596.2 579.8 3,297.3 2,800.6 EMEIA 1,800.8 1,442.8 466.7 434.5 2,267.5 1,877.3 Asia Pacific 1,130.9 1,041.5 180.4 196.9 1,311.3 1,238.4 Total $ 5,632.8 $ 4,705.1 $ 1,243.3 $ 1,211.2 $ 6,876.1 $ 5,916.3 Product Categories Original equipment (1) $ 3,425.9 $ 2,852.5 $ 990.9 $ 980.3 $ 4,416.8 $ 3,832.8 Aftermarket (2) 2,206.9 1,852.6 252.4 230.9 2,459.3 2,083.5 Total $ 5,632.8 $ 4,705.1 $ 1,243.3 $ 1,211.2 $ 6,876.1 $ 5,916.3 Pattern of Revenue Recognition Revenue recognized at point in time (3) $ 5,147.2 $ 4,314.3 $ 1,236.2 $ 1,204.1 $ 6,383.4 $ 5,518.4 Revenue recognized over time (4) 485.6 390.8 7.1 7.1 492.7 397.9 Total $ 5,632.8 $ 4,705.1 $ 1,243.3 $ 1,211.2 $ 6,876.1 $ 5,916.3 (1) Revenues from sales of capital equipment within the Industrial Technologies and Services segment and sales of components to original equipment manufacturers in the Precision and Science Technologies segment. (2) Revenues from sales of spare parts, accessories, other components and services in support of maintaining customer owned, installed base of the Company’s original equipment. (3) Revenues from short and long duration product and service contracts recognized at a point in time when control is transferred to the customer generally when product delivery has occurred and services have been rendered. (4) Revenues primarily from long duration ETO product contracts, certain multi-year service contracts, and certain contracts for the delivery of a significant volume of substantially similar products recognized over time as contractual performance obligations are completed. Performance Obligations The majority of the Company’s contracts have a single performance obligation as the promise to transfer goods and/or services. For contracts with multiple performance obligations, the Company utilizes observable prices to determine standalone selling price or cost plus margin if a standalone price is not available. The Company has elected to account for shipping and handling activities as fulfillment costs and not a separate performance obligation. If control transfers and related revenue is recognized for the related good before the shipping and handling activities occur, the related costs of those shipping and handling activities are accrued. The Company’s primary performance obligations include delivering standard or configured to order (“CTO”) goods to customers, designing and manufacturing a broad range of equipment customized to a customer’s specifications in ETO arrangements, rendering of services (maintenance and repair contracts), and certain extended or service type warranties. For incidental items that are immaterial in the context of the contract, costs are expensed as incurred or accrued at delivery. As of December 31, 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 $683.5 million in the next twelve months and $596.4 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 December 31, 2023 and 2022 presented in the Consolidated Balance Sheets. December 31, 2023 December 31, 2022 Accounts receivable, net $ 1,234.2 $ 1,122.0 Contract assets 85.6 70.6 Contract liabilities - current 331.2 305.6 Contract liabilities - noncurrent 1.0 1.1 Accounts receivable, net – Amounts due where the Company’s right to receive cash is unconditional. Customer receivables are recorded at face amount less an allowance for credit losses. The Company maintains an allowance for credit losses as a result of customers’ inability to make required payments. Management evaluates the aging of customer receivable balances, the financial condition of its customers, historical trends and the time outstanding of specific balances to estimate the amount of customer receivables that may not be collected in the future and records the appropriate provision. Contract assets – The Company’s rights to consideration for the satisfaction of performance obligations subject to constraints apart from timing. Contract assets are transferred to receivables when the right to collect consideration becomes unconditional. Contract assets are presented net of progress billings and related advances from customers. Contract liabilities – Advance payments received from customers for contracts for which revenue is not yet recognized. Contract liability balances are generally recognized in revenue within twelve months. Of the $306.7 million in contract liabilities as of December 31, 2022, we recognized substantially all as revenue in the year ended December 31, 2023. Contract assets and liabilities are reported on the Consolidated Balance Sheets on a contract-by-contract basis at the end of each reporting period. Contract assets and liabilities are presented net on a contract level, where required. Payments from customers are generally due 30 to 60 days after invoicing. Invoicing for sales of standard products generally coincides with shipment or delivery of goods. Invoicing for CTO and ETO contracts typically follows a schedule for billing at contractual milestones. Payment milestones normally include down payments upon the contract signing, completion of product design, completion of customer’s preliminary inspection, shipment or delivery, completion of installation, and customer’s on-site inspection. The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets) and customer advances and deposits (contract liabilities) on the Consolidated Balance Sheets. The Company has elected the practical expedient from ASC 606-10-32-18 and does not adjust the transaction price for the effects of a financing component if, at contract inception, the period between when the Company transfers a promised good or service to a customer and when the customer pays for that good or service will be one year or less.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income before income taxes for the years ended December 31, 2023, 2022 and 2021 consisted of the following. 2023 2022 2021 U.S. $ 356.0 $ 267.5 $ 121.3 Non-U.S. 675.1 474.7 391.7 Income before income taxes $ 1,031.1 $ 742.2 $ 513.0 The following table details the components of the Provision (benefit) for income taxes for the years ended December 31, 2023, 2022 and 2021. 2023 2022 2021 Current: U.S. federal $ 111.5 $ 66.5 $ (33.1) U.S. state and local 23.7 21.5 5.8 Non-U.S. 181.7 147.4 109.1 Deferred: U.S. federal (44.0) (37.3) (19.5) U.S. state and local (6.9) (5.5) (0.9) Non-U.S. (26.0) (43.0) (83.2) Provision (benefit) for income taxes $ 240.0 $ 149.6 $ (21.8) Certain prior period amounts within this Note have been reclassified to conform to the current period presentation. The U.S. federal corporate statutory rate is reconciled to the Company’s effective income tax rate for the years ended December 31, 2023, 2022 and 2021 as follows. 2023 2022 2021 U.S. federal corporate statutory rate 21.0 % 21.0 % 21.0 % State and local taxes, less federal tax benefit 1.3 2.0 1.1 Net effects of foreign tax rate differential 1.8 1.5 1.0 Withholding tax 1.5 2.1 3.0 Repatriation cost (2.0) (3.2) 1.4 Global Intangible Low-Tax Income (“GILTI”) 0.7 0.3 2.3 ASC 740-30 (formerly APB 23) 1.7 1.9 2.9 Valuation allowance changes 1.7 0.5 (5.4) Uncertain tax positions 0.9 0.2 (1.3) Equity compensation (0.6) (0.6) (2.5) Nondeductible acquisition costs 0.4 0.4 0.4 Foreign Derived Intangible Income (“FDII”) deduction (1.4) (1.6) (3.2) Tax credits (0.7) (1.1) (0.8) Income not subject to tax (1.6) (3.5) (3.3) Utilization of capital loss — — (9.1) Non-U.S. deferred change related to asset sales — — (8.0) Return to provision adjustment 0.1 — (1.3) Other, net (1.5) 0.3 (2.4) Effective income tax rate 23.3 % 20.2 % (4.2) % The principal items that gave rise to deferred income tax assets and liabilities as of December 31, 2023 and 2022 are as follows. 2023 2022 Deferred Tax Assets: Reserves and accruals $ 80.1 $ 78.5 Allowance for credit losses 7.8 7.4 Inventory reserve 5.9 4.9 Pension and postretirement benefit plans 25.3 25.4 Tax loss carryforwards 81.3 107.2 Deferred taxes recorded in other comprehensive income 13.4 0.1 Foreign tax credit carryforwards 57.9 53.8 Other 32.2 31.8 Total deferred tax assets 303.9 309.1 Valuation allowance (115.7) (107.3) Deferred Tax Liabilities: LIFO inventory (20.2) (21.8) Investment in partnership (35.7) (36.3) Property, plant and equipment (42.5) (36.0) Intangible assets (635.4) (663.6) Unremitted foreign earnings (35.5) (32.4) Total deferred tax liabilities (769.3) (790.1) Net deferred income tax liability $ (581.1) $ (588.3) The Company believes that it is more likely than not that it will realize its deferred tax assets through the reduction of future taxable income, other than for the deferred tax assets reflected below. Tax attributes and related valuation allowances as of December 31, 2023 were as follows. Tax Benefit Valuation Allowance Carryforward Period Ends Tax Attributes to be Carried Forward U.S. federal net operating loss $ 0.1 $ (0.1) 2031- 2037 U.S. federal capital loss 0.6 (0.6) 2028 U.S. federal tax credit 57.9 (57.9) 2024-2033 Alternative minimum tax credit 0.5 (0.1) Unlimited U.S. state and local net operating losses 2.7 — 2026-2041 U.S. state capital loss 0.3 (0.1) 2028 Non U.S. net operating losses 62.8 (38.5) Unlimited Non U.S. capital losses 0.6 (0.6) Unlimited Excess interest 14.2 (14.0) Unlimited Other deferred tax assets 3.8 (3.8) Unlimited Total tax carryforwards $ 143.5 $ (115.7) A reconciliation of the changes in the valuation allowance for deferred tax assets for the years ended December 31, 2023, 2022 and 2021 are as follows. 2023 2022 2021 Beginning balance $ 107.3 $ 106.4 $ 140.6 Charged to tax expense 6.4 3.1 (27.6) Charged to other accounts 2.0 (2.2) (6.6) Ending balance $ 115.7 $ 107.3 $ 106.4 Total unrecognized tax benefits were $19.1 million, $10.8 million and $21.1 million for the years ended December 31, 2023, 2022 and 2021, respectively. The net increase in this balance primarily relates to current year additions to previously established reserves. Included in total unrecognized benefits at December 31, 2023 is $19.1 million of unrecognized tax benefits that would affect the Company ’ s effective tax rate if recognized. The balance of total unrecognized tax benefits is not expected to significantly increase or decrease within the next twelve months. Below is a tabular reconciliation of the changes in total unrecognized tax benefits during the years ended December 31, 2023, 2022 and 2021. 2023 2022 2021 Beginning balance $ 10.8 $ 21.1 $ 27.8 Gross increases for tax positions of prior years 0.4 0.4 0.8 Gross decreases for tax positions of prior years — (3.7) — Gross increases for tax positions of current year 7.9 4.1 5.3 Settlements — (9.9) — Lapse of statute of limitations (0.2) (0.1) (11.8) Changes due to currency fluctuations 0.2 (1.1) (1.0) Ending balance $ 19.1 $ 10.8 $ 21.1 The Company includes interest expense and penalties related to unrecognized tax benefits as part of the provision for income taxes. The Company ’ s income tax liabilities at December 31, 2023 and 2022 include accrued interest and penalties of $2.0 million and $1.1 million, respectively. The statutes of limitations for U.S. Federal tax returns are open beginning with the 2020 tax year, and state returns are open beginning with the 2014 tax year. The Company was notified during 2023 of a U.S. Federal income tax audit for the tax year 2020. The Company is subject to income tax in 49 jurisdictions outside the U.S. The statute of limitations varies by jurisdiction with 2013 being the oldest year still open. The Company ’ s significant operations outside the U.S. are located in the United Kingdom, Germany, China, Ireland, Switzerland, and Singapore. In Germany, a tax audit covering tax years 2015-2019 was closed in Q3 2023. Note that any other liabilities arising from pre-merger tax years for legacy Ingersoll Rand Industrial entities would be similarly indemnified.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases The components of lease expense for the years ended December 31, 2023 and 2022 are as follows. 2023 2022 Operating lease cost $ 53.7 $ 45.8 Finance lease cost Amortization of right-of-use assets $ 1.5 $ 1.5 Interest on lease liabilities 0.9 1.0 Total finance lease cost $ 2.4 $ 2.5 Short-term lease cost $ 1.9 $ 4.3 Supplemental cash flow information related to leases for the years ended December 31, 2023 and 2022 is as follows. 2023 2022 Supplemental Cash Flows Information Cash Paid for Amounts Included in the Measurement of Lease Liabilities Operating cash flows from operating leases $ 53.7 $ 47.0 Operating cash flows from finance leases 1.0 1.0 Financing cash flows from finance leases 1.2 1.2 Leased Assets Obtained in Exchange for New Operating Lease Liabilities 62.5 63.2 Supplemental balance sheet information related to leases is as follows. December 31, 2023 December 31, 2022 Operating leases Other assets $ 164.4 $ 126.9 Accrued liabilities $ 41.6 $ 39.6 Other liabilities 116.9 80.4 Total operating lease liabilities $ 158.5 $ 120.0 Finance Leases Property, plant and equipment $ 12.3 $ 13.7 Short-term borrowings and current maturities of long-term debt $ 1.3 $ 1.2 Long-term debt, less current maturities 13.6 14.9 Total finance lease liabilities $ 14.9 $ 16.1 Weighted Average Remaining Lease Term (in years) Operating leases 5.1 4.5 Finance leases 10.3 11.1 Weighted Average Discount Rate Operating leases 3.6 % 2.9 % Finance leases 6.4 % 6.4 % Maturities of lease liabilities as of December 31, 2023 are as follows. Operating Leases Finance Leases 2024 $ 47.2 $ 2.2 2025 39.5 2.0 2026 32.0 2.0 2027 20.9 2.0 2028 13.7 2.1 Thereafter 28.4 10.6 Total lease payments $ 181.7 $ 20.9 Less imputed interest (23.2) (6.0) Total $ 158.5 $ 14.9
Leases	Leases The components of lease expense for the years ended December 31, 2023 and 2022 are as follows. 2023 2022 Operating lease cost $ 53.7 $ 45.8 Finance lease cost Amortization of right-of-use assets $ 1.5 $ 1.5 Interest on lease liabilities 0.9 1.0 Total finance lease cost $ 2.4 $ 2.5 Short-term lease cost $ 1.9 $ 4.3 Supplemental cash flow information related to leases for the years ended December 31, 2023 and 2022 is as follows. 2023 2022 Supplemental Cash Flows Information Cash Paid for Amounts Included in the Measurement of Lease Liabilities Operating cash flows from operating leases $ 53.7 $ 47.0 Operating cash flows from finance leases 1.0 1.0 Financing cash flows from finance leases 1.2 1.2 Leased Assets Obtained in Exchange for New Operating Lease Liabilities 62.5 63.2 Supplemental balance sheet information related to leases is as follows. December 31, 2023 December 31, 2022 Operating leases Other assets $ 164.4 $ 126.9 Accrued liabilities $ 41.6 $ 39.6 Other liabilities 116.9 80.4 Total operating lease liabilities $ 158.5 $ 120.0 Finance Leases Property, plant and equipment $ 12.3 $ 13.7 Short-term borrowings and current maturities of long-term debt $ 1.3 $ 1.2 Long-term debt, less current maturities 13.6 14.9 Total finance lease liabilities $ 14.9 $ 16.1 Weighted Average Remaining Lease Term (in years) Operating leases 5.1 4.5 Finance leases 10.3 11.1 Weighted Average Discount Rate Operating leases 3.6 % 2.9 % Finance leases 6.4 % 6.4 % Maturities of lease liabilities as of December 31, 2023 are as follows. Operating Leases Finance Leases 2024 $ 47.2 $ 2.2 2025 39.5 2.0 2026 32.0 2.0 2027 20.9 2.0 2028 13.7 2.1 Thereafter 28.4 10.6 Total lease payments $ 181.7 $ 20.9 Less imputed interest (23.2) (6.0) Total $ 158.5 $ 14.9

Stock-Based Compensation Plans

Stock-Based Compensation Plans	12 Months Ended
	Dec. 31, 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”). Following the Company’s initial public offering, the Company grants stock-based compensation awards pursuant to the 2017 Plan and ceased granting new awards pursuant to the 2013 Plan. 2017 Omnibus Incentive Plan In May 2017, the Company’s Board approved the 2017 Plan, and in February 2020, the Company’s stockholders approved the amendment and restatement of the 2017 Plan. Under the terms of the Plan, the Company’s Board may grant up to 19.6 million stock based and other incentive awards. Any shares of common stock subject to outstanding awards granted under the Company’s 2013 plan that, after the effective date of the 2017 Plan, expire or are otherwise forfeited or terminated in accordance with their terms are also available for grant under the 2017 Plan. All stock options were granted to employees, directors and advisors with an exercise price equal to the fair value of the Company’s per share common stock at the date of grant. Stock option awards typically vest over four years or five years and expire ten years from the date of grant. 2013 Stock Incentive Plan The Company adopted the 2013 Plan on October 14, 2013 as amended on April 27, 2015 under which the Company had the ability to grant stock-based compensation awards to employees, directors and advisors. The total number of shares available for grant under the 2013 Plan and reserved for issuance was 20.9 million shares. All stock options were granted to employees, directors and advisors with an exercise price equal to the fair value of the Company’s per share common stock at the date of grant. Stock option awards vested over either five years, four years, or three years with 50% of each award vesting based on time and 50% of each award vesting based on the achievement of certain financial targets. Stock-Based Compensation Expense Stock-based compensation expense for the years ended December 31, 2023, 2022 and 2021 are included in “Cost of sales” and “Selling and administrative expenses” in the Consolidated Statements of Operations and are as follows. 2023 2022 2021 Stock-based compensation expense recognized in: Continuing operations $ 51.9 $ 78.9 $ 87.2 Discontinued operations — — 10.9 Total stock-based compensation expense $ 51.9 $ 78.9 $ 98.1 Stock-Based Compensation Expense - Continuing Operations For the year ended December 31, 2023, the $51.9 million of stock-based compensation expense included expense for equity awards granted under the 2013 Plan and 2017 Plan of $51.1 million and an increase in the liability for stock appreciation rights (“SAR”) of $0.8 million. For the year ended December 31, 2022, the $78.9 million of stock-based compensation expense included expense for equity awards granted under the 2013 Plan and 2017 Plan of $80.0 million and a decrease in the liability for SARs of $1.1 million. Of the $80.0 million of expense for equity awards granted under the 2013 Plan and 2017 Plan, $39.5 million related to the $150 million equity grant to nearly 16,000 employees worldwide announced in the third quarter of 2020. For the year ended December 31, 2021, the $87.2 million of stock-based compensation expense included expense for equity awards granted under the 2013 Plan and 2017 Plan of $85.8 million and an increase in the liability for SARs of $1.4 million. Of the $85.8 million of expense for equity awards granted under the 2013 Plan and 2017 Plan, $57.4 million related to the $150 million equity grant to nearly 16,000 employees worldwide announced in the third quarter of 2020. As of December 31, 2023, there was $104.8 million of total unrecognized compensation expense related to outstanding stock option, restricted stock unit and performance share 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. SARs, granted under the 2013 Plan, were settled in cash and were accounted for as liability awards. As of December 31, 2023, there were no SARs outstanding. As of December 31, 2022, a liability of $3.3 million for SARs was included in “Accrued liabilities” in the Consolidated Balance Sheets. Stock-Based Compensation Expense - Discontinued Operations For the year ended December 31, 2021, the $10.9 million of stock-based compensation expense included expense for modifications of equity awards of $3.8 million and expense for equity awards granted under the 2013 and 2017 Plan of $7.1 million. The modifications allowed for the vesting of the first tranche of the All-Employee Equity Grant awarded to HPS and SVT employees despite their termination due to the divestitures. Stock Option Awards A summary of the Company’s stock option (including SARs) activity for the year ended December 31, 2023 is presented in the following table (underlying shares in thousands). Shares Weighted-Average Exercise Price Wtd. Avg. Remaining Contractual Term (years) Aggregate Intrinsic Value of In-The-Money Options Outstanding at December 31, 2022 6,383 $ 25.22 Granted 763 58.11 Exercised or Settled (1,662) 18.61 Forfeited (199) 50.31 Expired (3) 41.52 Outstanding at December 31, 2023 5,282 31.09 5.3 $ 244.3 Vested at December 31, 2023 3,644 22.45 3.9 $ 200.0 The per-share weighted average grant date fair value of stock options granted during the years ended December 31, 2023, 2022 and 2021 was $25.28, $21.24 and $18.06, respectively. The intrinsic value of stock options exercised was $75.0 million, $27.7 million and $53.5 million during the years ended December 31, 2023, 2022 and 2021, respectively. The following assumptions were used to estimate the fair value of options granted during the years ended December 31, 2023, 2022 and 2021. 2023 2022 2021 Expected life of options (in years) 6.3 - 7.5 6.3 6.3 Risk-free interest rate 3.8% - 4.6% 1.9% - 3.9% 0.9% - 1.3% Assumed volatility 35.6% - 36.6% 37.1% - 38.3% 38.6% - 39.4% Expected dividend rate 0.1% 0.1% - 0.2% 0.0% - 0.1% Restricted Stock Unit Awards Restricted stock units are typically granted in the first quarter of the year 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. Eligible employees were also granted restricted stock units, during the third quarter of 2020, that vested 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. A summary of the Company’s restricted stock unit activity for the year ended December 31, 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 451 59.22 Vested (378) 37.51 Forfeited (121) 52.03 Non-vested as of December 31, 2023 957 52.18 Performance Share Unit Awards (“PSUs”) 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 under which the market condition is achieved 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. Vesting of this award is conditional upon the service condition even if the market condition is achieved prior to the end of the 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 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 year ended December 31, 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 (86) 64.42 Non-vested as of December 31, 2023 1,380 49.53 The following assumptions were used to estimate the fair value of performance share units granted during the year ended December 31, 2023, 2022 and 2021 using the Monte Carlo simulation pricing model. 2023 2022 2021 Expected term (in years) 2.9 2.9 - 5.0 2.9 Risk-free interest rate 4.4% 1.7% - 3.4% 0.2 % Assumed volatility 31.8% 35.0% - 36.4% 36.9 % Expected dividend rate 0.1 % 0.2 % 0.0 %

Hedging Activities, Derivative

Hedging Activities, Derivative Instruments and Credit Risk	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Activities, Derivative Instruments and Credit Risk	Hedging Activities, Derivative Instruments and Credit Risk 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. Fluctuations in interest rates and foreign currency exchange rates can be volatile, and the Company’s risk management activities do not totally eliminate these risks. Consequently, these fluctuations could have a significant effect on the Company’s financial results. 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 derivatives as cash flow hedges of variable rate debt in order to adjust the relative fixed and variable proportion. 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 Consolidated Balance Sheets as of December 31, 2023 and 2022. December 31, 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 $ 8.2 $ 1.2 $ — $ — Cross-currency interest rate swap contracts Net investment 1,054.2 15.7 — — 63.1 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 December 31, 2023 or 2022. Interest Rate Swap and Cap Contracts Designated as Cash Flow Hedges As of December 31, 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 December 31, 2023, the Company expects to reclassify gains of $8.2 million out of accumulated other comprehensive income (“AOCI”) into earnings during the next 12 months. The Company was previously a party to interest rate cap contracts that effectively limited the SOFR-based interest rates charged on a portion of the Company’s variable rate borrowings to 4.0%. The Company and its counterparties terminated these contracts in August 2023. Prior to their termination, these cap contracts qualified as hedging instruments and were designated as cash flow hedges of forecasted interest payments. These forecasted interest payments are still expected to occur as specified in the Company’s hedge designations; therefore, the unrecognized gain at the time of termination will be reclassified into earnings over the remaining period of original term of the contracts, ending in June 2025. The unrecognized gain remaining in AOCI as of December 31, 2023 was $6.6 million, of which $5.2 million is expected to be reclassified into earnings during the next 12 months. Gains on derivatives designated as cash flow hedges included in the Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2023, 2022 and 2021 are presented in the table below. 2023 2022 2021 Gain recognized in OCI on derivatives $ 10.5 $ 18.3 $ — Gain (loss) reclassified from AOCI into income (effective portion) (1) 15.6 (2.8) — (1) Gains (losses) on derivatives reclassified from AOCI into income were included in “Interest expense” in the Consolidated Statements of Operations. Cross-Currency Interest Rate Swap Contracts Designated as Net Investment Hedges As of December 31, 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 December 31, 2023, the Company was party to 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 years ended December 31, 2023, 2022 and 2021 are presented in the table below. 2023 2022 2021 Gain (loss) recognized in OCI on derivatives $ (17.5) $ 0.6 $ — Gain reclassified from AOCI into income (effective portion) (1) 19.0 11.5 — (1) Gains (losses) on derivatives reclassified from AOCI into income were included in “Interest expense” in the Consolidated Statements of Operations. Foreign Currency Forwards Not Designated as Hedging Instruments The Company had no foreign currency forward contracts outstanding as of December 31, 2023. These contracts are sometimes 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 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 Consolidated Balance Sheets. The Company’s gains (losses) on derivative instruments not designated as accounting hedges and total net foreign currency transaction gains (losses) for the years ended December 31, 2023, 2022 and 2021 were as follows. 2023 2022 2021 Foreign currency forward contracts gains (losses) 0.3 3.4 (3.2) Total foreign currency transaction gains (losses), net (5.1) 5.9 12.0 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 years ended December 31, 2022 and 2021 were $36.4 million and $35.0 million, respectively. Credit Risk Credit risk related to derivatives arises when amounts receivable from a counterparty exceed those payable. Because the notional amount of the derivative instruments only serves as a basis for calculating amounts receivable or payable, the risk of loss with any counterparty is limited to a fraction of the notional amount. The Company minimizes the credit risk related to derivatives by transacting only with multiple, high-quality counterparties that are major financial institutions with investment-grade credit ratings. The Company has not experienced any financial loss as a result of counterparty nonperformance in the past. The majority of the derivative contracts to which the Company is a party, settle monthly or quarterly, or mature within one year. Because of these factors, the Company believes it has minimal credit risk related to derivative contracts as of December 31, 2023. Concentrations of credit risk with respect to trade receivables are limited due to the wide variety of customers and industries to which the Company’s products and services are sold, as well as their dispersion across many different geographic areas . As a result, the Company does not believe it has any significant concentrations of credit risk as of December 31, 2023 or 2022.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 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, 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. Refer to Note 1 “Summary of Significant Accounting Policies” for a discussion of the valuation assumptions utilized in the valuation of goodwill and indefinite-lived intangible assets. The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis. December 31, 2023 Level 1 Level 2 Level 3 Total Financial Assets Trading securities held in deferred compensation plan (1) $ 16.8 $ — $ — $ 16.8 Interest rate swaps (2) — 9.4 — 9.4 Cross-currency interest rate swaps (3) — 15.7 — 15.7 Total $ 16.8 $ 25.1 $ — $ 41.9 Financial Liabilities Deferred compensation plan (1) $ 24.7 $ — $ — $ 24.7 Cross-currency interest rate swaps (3) — 63.1 — 63.1 Contingent consideration (5) — — 42.2 42.2 Total $ 24.7 $ 63.1 $ 42.2 $ 130.0 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 (5) — 14.1 — 14.1 Interest rate caps (6) — 18.1 — 18.1 Cross-currency interest rate swaps (3) — 17.7 — 17.7 Foreign currency forwards (4) — — — — Total $ 12.3 $ 49.9 $ — $ 62.2 Financial Liabilities Deferred compensation plan (1) $ 19.6 $ — $ — $ 19.6 Cross-currency interest rate swaps (3) — 28.7 — 28.7 Contingent consideration (5) — — 43.9 43.9 Foreign currency forwards (4) — — — — 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. 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 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. (4) Based on calculations that use readily observable market parameters as their basis, such as spot and forward rates. (5) 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. (6) 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. 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 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 years ended December 31, 2023 and 2022. 2023 2022 Balance at beginning of period $ 43.9 $ 8.5 Acquisitions 13.5 36.1 Changes in fair value 7.3 0.8 Payments (23.2) (1.8) Foreign currency translation and other 0.7 0.3 Balance at end of period $ 42.2 $ 43.9 As of December 31, 2023, the contingent consideration included in “Accrued liabilities” and “Other liabilities” on the Consolidated Balance Sheets were $0.6 million and $41.6 million, respectively.

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 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. A more detailed discussion of certain of these proceedings, lawsuits and administrative actions is set forth below. Asbestos and Silica Related Litigation The Company has been named as a defendant in a number of asbestos-related and silica-related personal injury lawsuits. The plaintiffs in these suits allege exposure to asbestos or silica from multiple sources and typically the Company is one of approximately 25 or more named defendants. Predecessors to the Company sometimes manufactured, distributed and sold products allegedly at issue in the pending asbestos and silica-related lawsuits (the “Products”). However, neither the Company nor its predecessors ever mined, manufactured, mixed, produced or distributed asbestos fiber or silica sand, the materials that allegedly caused the injury underlying the lawsuits. Moreover, the asbestos-containing components of the Products, if any, were enclosed within the subject Products. Although the Company has never mined, manufactured, mixed, produced or distributed asbestos fiber or silica sand nor sold products that could result in a direct asbestos or silica exposure, many of the companies that did engage in such activities or produced such products are no longer in operation. This has led to law firms seeking potential alternative companies to name in lawsuits where there has been an asbestos or silica related injury. 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, based on: the Company’s anticipated insurance and indemnification rights to address the risks of such matters; the limited potential asbestos exposure from the Products described above; the Company’s experience that the vast majority of plaintiffs are not impaired with a disease attributable to alleged exposure to asbestos or silica from or relating to the Products or for which the Company otherwise bears responsibility; various potential defenses available to the Company with respect to such matters; and the Company’s prior disposition of comparable matters. However, inherent uncertainties of litigation and future developments, including, without limitation, potential insolvencies of insurance companies or other defendants, an adverse determination in the Adams County Case (discussed below), or other inability to collect from the Company’s historical insurers or indemnitors, could cause a different outcome. While the outcome of legal proceedings is inherently uncertain, based on presently known facts, experience, and circumstances, the Company believes that the amounts accrued on its balance sheet are adequate and that the liabilities arising from the asbestos and silica-related personal injury lawsuits will not have a material adverse effect on the Company’s consolidated financial position, results of operations or liquidity. “Accrued liabilities” and “Other liabilities” in the Consolidated Balance Sheets include an undiscounted reserve of $126.9 million and $137.9 million as of December 31, 2023 and 2022, respectively, for asbestos-related indemnification. Asbestos-related defense costs are excluded from this 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 reimbursement for the costs associated with the asbestos and silica-related lawsuits filed against the Company. The Company has also pursued litigation against certain insurers or indemnitors, where necessary. The Company has an insurance recovery receivable for probable asbestos related recoveries of $157.7 million and $154.2 million as of December 31, 2023 and 2022, respectively, which was included in “Other assets” in the Consolidated Balance Sheets. There were no material recoveries received in the years ended December 31, 2023, 2022 and 2021. The most recent significant action brought by the Company against an insurer, Gardner Denver, Inc. v. Certain Underwriters at Lloyd’s, London, et al., was filed on July 9, 2010, in the Eighth Judicial Circuit, Adams County, Illinois, as case number 10-L-48 (the “Adams County Case”). In the lawsuit, the Company seeks, among other things, to require certain excess insurer defendants to honor their insurance policy obligations to the Company, including payment in whole or in part of the costs associated with the asbestos-related lawsuits filed against the Company. In October 2011, the Company reached a settlement with one of the insurer defendants, which had issued both primary and excess policies, for approximately the amount of such defendant’s policies that were subject to the lawsuit. Since then, the case has been proceeding through the discovery and motions process with the remaining insurer defendants. On January 29, 2016, the Company prevailed on the first phase of that discovery and motions process (“Phase I”). Specifically, the Court in the Adams County Case ruled that the Company has rights under all of the policies in the case, subject to their terms and conditions, even though the policies were sold to the Company’s former owners rather than to the Company itself. On June 9, 2016, the Court denied a motion by several of the insurers who sought permission to appeal the Phase I ruling immediately rather than waiting until the end of the whole case as is normally required. The case is now proceeding through the discovery and motions process regarding the remaining issues in dispute (“Phase II”). In that regard, the Company obtained some favorable rulings on various Phase II issues during 2021 and 2022; however, several disputes still remain and will need to be addressed as Phase II continues to progress. A majority of the Company’s expected future recoveries of the costs associated with the asbestos-related lawsuits are the subject of the Adams County Case. 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. There are a number of key variables and assumptions including the number and type of new claims to be filed each year, the resolution or outcome of these claims, the average cost of resolution of each new claim, the amount of insurance available, allocation methodologies, the contractual terms with each insurer with whom the Company has reached settlements, the resolution of coverage issues with other excess insurance carriers with whom the Company has not yet achieved settlements, and the solvency risk with respect to the Company’s insurance carriers. Other factors that may affect the future liability include uncertainties surrounding the litigation process from jurisdiction to jurisdiction and from case to case, legal rulings that may be made by state and federal courts, and the passage of state or federal legislation. The Company makes the necessary adjustments for the asbestos liability and corresponding insurance recoveries on an annual basis unless facts or circumstances warrant assessment as of an interim date. 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. Persons potentially liable for such costs and damages generally include the site owner or operator and persons that disposed or arranged for the disposal of hazardous substances found at those sites. Although these laws impose joint and several liability on PRPs, in application the PRPs typically allocate the investigation and cleanup costs based upon the volume of waste contributed by each PRP. Based on currently available information, the Company was only a small contributor to these waste sites, and the Company has, or is attempting to negotiate, de minimis settlements for their cleanup. The cleanup of the remaining sites is substantially complete and the Company’s future obligations entail a share of the sites’ ongoing operating and maintenance expense. The Company is also addressing several on-site cleanups for which it is the primary responsible party. The Company has undiscounted liabilities of $16.7 million and $13.5 million as of December 31, 2023 and 2022, respectively, on its Consolidated Balance Sheets to the extent costs are known or can be reasonably estimated for its remaining financial obligations for the environmental matters discussed above 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.

Other Operating Expense, Net

Other Operating Expense, Net	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Other Operating Expense, Net	Other Operating Expense, Net The components of “Other operating expense, net” for the years ended December 31, 2023, 2022 and 2021 were as follows. 2023 2022 2021 Other Operating Expense, Net Foreign currency transaction losses (gains), net $ 5.1 $ (5.9) $ (12.0) Restructuring charges, net (1) 19.9 29.3 13.4 Acquisition and other transaction related expenses (2) 52.2 38.7 55.3 Other, net 0.5 2.8 5.2 Total other operating expense, net $ 77.7 $ 64.9 $ 61.9 (1) See Note 5 “Restructuring.” (2) 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.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting A description of the Company’s two reportable segments, including the specific products manufactured and sold follows 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 and loading systems. The Company’s compression and vacuum products are used worldwide in industrial manufacturing, transportation, chemical processing, food and beverage production, clean 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. 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, clean 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 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 the United States 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 years ended December 31, 2023, 2022 and 2021. 2023 2022 2021 Revenue Industrial Technologies and Services $ 5,632.8 $ 4,705.1 $ 4,161.0 Precision and Science Technologies 1,243.3 1,211.2 991.4 Total Revenue $ 6,876.1 $ 5,916.3 $ 5,152.4 Segment Adjusted EBITDA Industrial Technologies and Services $ 1,587.3 $ 1,214.0 $ 1,033.7 Precision and Science Technologies 372.8 347.5 291.4 Total Segment Adjusted EBITDA 1,960.1 1,561.5 1,325.1 Less items to reconcile Segment Adjusted EBITDA to Income from Continuing Operations Before Income Taxes: Corporate expenses not allocated to segments 173.3 126.7 133.2 Interest expense 156.7 103.2 87.7 Depreciation and amortization expense (1) 455.4 429.4 418.0 Restructuring and related business transformation costs (2) 22.9 32.3 18.8 Acquisition related expenses and non-cash charges (3) 63.9 40.7 65.2 Stock-based compensation (4) 51.9 85.6 95.9 Foreign currency transaction losses (gains), net 5.1 (5.9) (12.0) Loss on extinguishment of debt 13.5 1.1 9.0 Adjustments to LIFO inventories 12.0 36.1 33.2 Cybersecurity incident costs 2.3 — — Gain on settlement of post-acquisition contingencies (5) — (6.2) (30.1) Other adjustments (6) (28.0) (23.7) (6.8) Income from Continuing Operations Before Income Taxes $ 1,031.1 $ 742.2 $ 513.0 (1) Depreciation and amortization expense excludes $3.7 million, $3.4 million and $4.1 million of depreciation of rental equipment for the years ended December 31, 2023, 2022 and 2021, respectively. (2) Restructuring and related business transformation costs consist of the following. 2023 2022 2021 Restructuring charges $ 19.9 $ 29.3 $ 13.4 Facility reorganization, relocation and other costs 3.0 3.0 3.1 Other, net — — 2.3 Total restructuring and related business transformation costs $ 22.9 $ 32.3 $ 18.8 (3) 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. (4) Represents stock-based compensation expense recognized for the year ended December 31, 2022 of $78.9 million and associated employer taxes of $6.7 million. Represents stock-based compensation expense recognized for the year ended December 31, 2021 of $87.2 million and associated employer taxes of $8.7 million. (5) Represents gains from settling post-acquisition contingencies related to the Merger outside of the measurement period. (6) Includes (i) pension and other postretirement benefits (“OPEB”) plan costs other than service cost, (ii) interest income on cash and cash equivalents and (iii) other miscellaneous adjustments. The following tables provide summarized information about the Company’s reportable segments. Depreciation and Amortization Expense 2023 2022 2021 Industrial Technologies and Services $ 313.8 $ 294.7 $ 296.6 Precision and Science Technologies 135.4 133.6 108.3 Corporate and other 9.9 4.5 17.2 Total depreciation and amortization expense $ 459.1 $ 432.8 $ 422.1 Capital Expenditures 2023 2022 2021 Industrial Technologies and Services $ 83.9 $ 66.3 $ 53.1 Precision and Science Technologies 18.5 17.7 10.7 Corporate and other 3.0 10.6 0.3 Total capital expenditures $ 105.4 $ 94.6 $ 64.1 Identifiable Assets 2023 2022 Industrial Technologies and Services $ 10,138.8 $ 9,204.7 Precision and Science Technologies 3,464.7 3,540.4 Corporate and other 1,960.0 2,020.8 Total identifiable assets $ 15,563.5 $ 14,765.9 The following table presents property, plant and equipment, net by geographic region for the years ended December 31, 2023, and 2022. 2023 2022 United States $ 286.0 $ 225.7 Other Americas 12.8 18.5 Total Americas 298.8 244.2 EMEIA (1) 245.7 216.6 Asia Pacific 166.9 163.6 Total $ 711.4 $ 624.4 (1) Europe, Middle East, India and Africa (“EMEIA”)

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The calculation of earnings per share is based on the weighted-average number of the Company’s shares outstanding for the applicable period. The calculation of diluted earnings per share reflects the effect of all potentially dilutive shares that were outstanding during the respective periods, unless the effect of doing so is antidilutive. The Company uses the treasury stock method to calculate the dilutive effect of outstanding share-based compensation awards. The number of weighted-average shares outstanding used in the computations of basic and diluted earnings per share for the years ended December 31, 2023, 2022 and 2021 were as follows. 2023 2022 2021 Weighted-average shares outstanding - Basic 404.8 405.3 414.8 Dilutive effect of outstanding share-based compensation awards 4.2 4.9 6.4 Weighted-average shares outstanding - Diluted 409.0 410.2 421.2 For the years ended December 31, 2023, 2022 and 2021, there were 1.3 million, 1.8 million and 0.7 million anti-dilutive shares that were not included in the computation of diluted earnings per share, respectively.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On February 1, 2024, the Company completed the acquisition of Friulair S.r.l. (“Friulair”) in an all-cash upfront purchase price of €135 million. The business is a manufacturer of dryers, filters, aftercoolers, and accessories for the treatment of compressed air. Friulair will be reported within the Industrial Technologies and Services segment. Management is in the process of preparing the preliminary fair values of the assets and liabilities acquired.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income attributable to Ingersoll Rand Inc.	$ 778.7	$ 604.7	$ 562.5

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	12 Months Ended
	Dec. 31, 2023 shares	Dec. 31, 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
Vicente Reynal [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On November 7, 2023, Vicente Reynal, the Company's Chairman, President and Chief Executive Officer, adopted a 10b5-1 trading arrangement (a “10b5-1 Plan”). Mr. Reynal’s 10b5-1 Plan provides for the potential sale of up to 240,000 shares of the Company’s common stock, obtained from the exercise of vested stock options covered by the 10b5-1 Plan, from February 28, 2024 through August 5, 2024, 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	November 7, 2023
Arrangement Duration	159 days
Aggregate Available	240,000	240,000
Andy Schiesl [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On December 7, 2023, Andy Schiesl, the Company's General Counsel, adopted a 10b5-1 trading arrangement (a “10b5-1 Plan”). Mr. Reynal’s 10b5-1 Plan provides for the potential sale of up to 35,000 shares of the Company’s common stock from March 11, 2024 through August 5, 2024, and is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended.
Name	Andy Schiesl
Title	General Counsel
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	December 7, 2023
Arrangement Duration	147 days
Aggregate Available	35,000	35,000

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Overview and Basis of Presentation	Overview and Basis of Presentation Ingersoll Rand Inc. is a global market leader with a broad range of innovative and mission-critical air, fluid, energy and medical technologies, providing services and solutions to increase industrial productivity and efficiency. The accompanying consolidated financial statements include the accounts of Ingersoll Rand Inc. and its consolidated subsidiaries (collectively referred to herein as “Ingersoll Rand” or the “Company”).
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All intercompany transactions and accounts have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. The Company regularly evaluates the estimates and assumptions related to the allowance for credit losses, inventory valuation, warranty reserves, fair value of stock-based awards, goodwill, intangible asset, and long-lived asset valuations, employee benefit plan liabilities, over time revenue recognition, income tax liabilities and deferred tax assets and related valuation allowances, uncertain tax positions, restructuring reserves, and litigation and other loss contingencies. Actual results could differ materially and adversely from those estimates and assumptions, and such results could affect the Company’s consolidated net income, financial position, or cash flows.
Foreign Currency Translation	Foreign Currency Translation Assets and liabilities of the Company’s foreign subsidiaries, where the functional currency is not the U.S. Dollar (“USD”), are translated at the exchange rate in effect at the balance sheet date, while revenues and expenses are translated at average rates prevailing during the year. Adjustments resulting from the translation of the assets and liabilities of foreign operations into USD are excluded from the determination of net income, and are reported in accumulated other comprehensive loss, a separate component of stockholders’ equity, and included as a component of other comprehensive income (loss). Assets and liabilities of subsidiaries that are denominated in currencies other than the subsidiaries’ functional currency are remeasured into the functional currency using end of period exchange rates, or historical rates for certain balances, where applicable. Gains and losses related to these remeasurements are recorded within the Consolidated Statements of Operations as a component of “Other operating expense, net.”
Revenue Recognition	Revenue Recognition
Cost of Sales	Cost of Sales Cost of sales includes the costs the Company incurs, including purchased materials, labor and overhead related to manufactured products and aftermarket parts sold during a period. Depreciation related to manufacturing equipment and facilities is included in cost of sales. Purchased materials represent the majority of costs of sales, with steel, aluminum, copper and partially finished castings representing the most significant materials inputs. Cost of sales for services includes the direct costs the Company incurs including direct labor, parts and other overhead costs including depreciation of equipment and facilities to deliver repair, maintenance, and other field services to the Company’s customers.
Selling and Administrative Expenses	Selling and Administrative Expenses Selling and administrative expenses consist of (i) employee related salary, stock-based compensation expense, benefits and other expenses for selling, administrative functions and other activities not associated with the manufacture of products or delivery of services to customers; (ii) the costs of marketing and direct costs of selling products and services to customers including internal and external sales commissions; (iii) facilities costs including office rent, maintenance, depreciation, and insurance for selling and administrative activities; (iv) research and development expenditures; (v) professional and consultant fees; and (vi) other miscellaneous expenses.
Cash and Cash Equivalents	Cash and Cash Equivalents
Accounts Receivable	Accounts Receivable Trade accounts receivable consist of amounts owed for products shipped to or services performed for customers. Reviews of customers’ creditworthiness are performed prior to order acceptance or order shipment. Trade accounts receivable are recorded net of an allowance for expected credit losses. The allowance for credit losses is based on the Company’s assessment of losses that will result from its customers’ inability or unwillingness to pay amounts owed to the Company. The allowance is determined using a combination of factors, including historical credit loss experience and the length of time that the trade receivables are past due, supplemented by the Company’s knowledge of customer-specific information, current market conditions and reasonable and supportable forecasts of future events and economic conditions.
Inventories	Inventories Inventories, which consist primarily of raw materials and finished goods, are carried at the lower of cost or net realizable value. Fixed manufacturing overhead is allocated to the cost of inventory based on the normal capacity of production facilities. Unallocated overhead during periods of abnormally low production levels is recognized as cost of sales in the period in which it is incurred.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment includes the historical cost of land, buildings, equipment, and significant improvements to existing plant and equipment or in the case of acquisitions, a fair market value of assets at the time of acquisition. Repair and maintenance costs that do not extend the useful life of an asset are recorded as an expense as incurred. Depreciation is provided using the straight-line method over the estimated useful lives of the assets, which are generally as follows: buildings — 10 to 30 years, machinery and equipment — 7 to 10 years, and office furniture and equipment — 3 to 10 years.
Goodwill and Indefinite-Lived Intangible Assets	Goodwill and Indefinite-Lived Intangible Assets Goodwill is recorded as the difference, if any, between the aggregate consideration paid for an acquisition and the fair value of the net tangible and intangible assets acquired, liabilities assumed, and non-controlling interests, if any. Intangible assets, including goodwill, are assigned to the Company’s reporting units based upon their fair value at the time of acquisition. Goodwill and indefinite-lived intangibles such as tradenames are not subject to amortization but are assessed for impairment annually, or more frequently if events or changes in circumstances indicate that the asset might be impaired or that there is a probable reduction in the fair value of a reporting unit below its aggregate carrying value. The Company tests goodwill for impairment annually in the fourth quarter of each year using data as of October 1 of that year and whenever events or changes in circumstances indicate the carrying value may not be recoverable. The impairment test consists of comparing the fair value of the reporting unit to the carrying value of the reporting unit. An impairment charge is recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; provided, the loss recognized cannot exceed the total amount of goodwill allocated to the reporting unit. If applicable, the Company considers income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss. The Company determined fair values for each of the reporting units using a combination of the income and market multiple approaches which are weighted 75% and 25%, respectively. Under the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk-adjusted rate. The Company uses its internal forecasts to estimate future cash flows and includes an estimate of long-term future growth rates based on its most recent views of the long-term outlook for each reporting unit. Actual results may differ from those assumed in the Company’s forecasts. The Company derives its discount rates using a capital asset pricing model and analyzing published rates for industries relevant to its reporting units to estimate the cost of equity financing. The Company uses discount rates that are commensurate with the risks and uncertainty inherent in the respective businesses and in its internally developed forecasts. Under the market approach, the Company applies performance multiples from comparable public companies, adjusted for relative risk, profitability, and growth considerations, to the reporting units to estimate fair value. The Company tests intangible assets with indefinite lives annually for impairment using a relief from royalty discounted cash flow fair value model. The quantitative impairment test for indefinite-lived intangible assets involves a comparison of the estimated fair value of the intangible asset with its carrying value. If the carrying value of the intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. The relief from royalty method requires the Company to estimate forecasted revenues and determine appropriate discount rates, royalty rates, and terminal growth rates.
Long-Lived Assets Including Intangible Assets With Finite Useful Lives	Long-Lived Assets Including Intangible Assets With Finite Useful Lives Intangible assets with finite useful lives are amortized on a straight-line basis over their estimated useful lives, which vary depending on the type of intangible assets. In determining the estimated useful lives of definite-lived intangibles, we consider the nature, competitive position, life cycle position and historical and expected future operating cash flows of each acquired assets, as well as our commitment to support these assets through continued investment and legal infringement protection. The Company reviews long-lived assets, including identified intangible assets with finite useful lives and subject to amortization for impairment, whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Determining whether an impairment loss occurred requires comparing the carrying amount to the sum of undiscounted cash flows expected to be generated by the asset. Such events and circumstances include the occurrence of an adverse change in the market involving the business employing the related long-lived assets or a situation in which it is more likely than not that the Company will dispose of such assets. If the comparison indicates that there is impairment, the impairment loss to be recognized as a non-cash charge to earnings is measured by the amount by which the carrying amount of the assets exceeds their fair value and the impaired assets are written down to their fair value or, if fair value is not readily determinable, to an estimated fair value based on discounted expected future cash flows. Assets to be disposed are reported at the lower of the carrying amount or fair value, less costs to dispose.
Warranty Reserves	Warranty Reserves Most of the Company’s product sales are covered by warranty provisions that generally provide for the repair or replacement of qualifying defective items for a specified period after the time of sale, typically 12 months. The Company establishes reserves for estimated product warranty costs at the time revenue is recognized based upon historical warranty experience and additionally for any known product warranty issues. The Company’s warranty obligation has been and may in the future be affected by product failure rates, repair or field replacement costs, and additional costs incurred in correcting any product failure.
Stock-Based Compensation	Stock-Based Compensation Stock-based compensation is measured for all stock-based equity awards made to employees and non-employee directors based on the estimated fair value as of the grant date. The determination of the fair values of stock-based awards at the grant date requires judgment, including estimating the expected term of the relevant stock-based payment awards and the expected volatility of the Company’s stock. The fair value of each stock option grant under the stock-based compensation plans is estimated on the date of grant or modification using the Black-Scholes-Merton option-pricing model. The expected stock volatility assumption was based on an average of the historical volatility over the expected term of the stock options. Forfeitures of stock options are accounted for as they occur. Restricted stock units and performance share units with internal performance metrics (i.e. EPS) are valued at the share price on the date of grant. The grant date fair value of performance share units with external performance metrics (i.e. TSR) is determined using a Monte Carlo simulation pricing model.
Pension and Other Postretirement Benefits	Pension and Other Postretirement Benefits The Company sponsors a number of pension plans and other postretirement benefit plans worldwide. The calculation of the pension and other postretirement benefit obligations and net periodic benefit cost under these plans requires the use of actuarial valuation methods and assumptions. These assumptions include the discount rates used to value the projected benefit obligations, future rate of compensation increases, expected rates of return on plan assets and expected healthcare cost trend rates. The discount rates selected to measure the present value of the Company’s benefit obligations as of December 31, 2023 and 2022 were derived by examining the rates of high-quality, fixed income securities whose cash flows or duration match the timing and amount of expected benefit payments under the plans. In accordance with GAAP, actual results that differ from the Company’s assumptions are recorded in accumulated other comprehensive income (loss) and amortized through net periodic benefit cost over future periods. While management believes that the assumptions are appropriate, differences in actual experience or changes in assumptions may affect the Company’s pension and other postretirement benefit obligations and future net periodic benefit cost.
Income Taxes	Income Taxes The Company has determined income tax expense and other deferred income tax information based on the asset and liability method. Deferred income tax liabilities are provided on temporary differences between assets and liabilities for financial and tax reporting purposes as measured by enacted tax rates expected to apply when temporary differences are settled or realized. A valuation allowance is established for the portion of deferred tax assets for which it is not more likely than not that a tax benefit will be realized. Tax benefits are recognized only for tax positions that are more likely than not to be sustained upon examination by tax authorities. The amount recognized is measured as the largest amount of benefit that is greater than 50% likely to be realized upon ultimate settlement. Unrecognized tax benefits are tax benefits claimed in the Company’s tax returns that do not meet these recognition and measurement standards. The Company believes that its income tax liabilities, including related interest, are adequate in relation to the potential for additional tax assessments. There is a risk, however, that the amounts ultimately paid upon resolution of audits could be materially different from the amounts previously included in income tax expense and, therefore, could have a material impact on the Company’s tax provision, net income, and cash flows. The Company reviews its liabilities quarterly, and may adjust such liabilities due to proposed assessments by tax authorities, changes in facts and circumstances, issuance of new regulations or new case law, negotiations between tax authorities of different countries concerning transfer prices, the resolution of audits, or the expiration of statutes of limitations. Adjustments are most likely to occur in the year during which major audits are closed. The Tax Cuts and Jobs Act (“Tax Act”), enacted on December 22, 2017, created a new requirement that certain income (i.e., Global intangible low taxed income (“GILTI”)) earned by controlled foreign corporations (“CFC”) must be included currently in the gross income of the CFCs’ U.S. shareholder. GILTI is the excess of the shareholder’s “net CFC tested income” over the net deemed tangible income return, which is currently defined as the excess of (1) 10% of the aggregate of the U.S. shareholder’s pro rata share of the qualified business asset investment of each CFC with respect to which it is a U.S. shareholder over (2) the amount of certain interest expense taken into account in the determination of net CFC-tested income.
Research and Development	Research and Development For the years ended December 31, 2023, 2022 and 2021, the Company spent $108 million , $91 million, and $74 million, respectively, on research activities relating to the development of new products and new product applications. All such expenditures were funded by the Company, expensed as incurred and recorded to “Selling and administrative expenses” in the Consolidated Statements of Operations.
Derivative Financial Instruments	Derivative Financial Instruments All derivative financial instruments are reported on the balance sheet at fair value. For derivative instruments that are not designated as hedges, any gain or loss on the derivatives is recognized in earnings in the current period. A derivative instrument may be designated as a hedge of the exposure to: (1) changes in the fair value of an asset, liability, or firm commitment, (2) variability in expected future cash flows, if the hedging relationship is expected to be highly effective in offsetting changes in fair value or cash flows attributable to the hedged risk during the period of designation or (3) as a hedge of a net investment in a foreign operation. If a derivative is designated as a fair value hedge, the gain or loss on the derivative and the offsetting loss or gain on the hedged asset, liability, or firm commitment are recognized in earnings. For derivative instruments designated as a cash flow hedge, the effective portion of the gain or loss on the derivative instrument is reported as a component of accumulated other comprehensive income and reclassified to earnings in the same period that the hedged transaction affects earnings. For derivative instruments designated as net investment in a foreign operation, gains or losses are reported as currency translation adjustments. The ineffective portion of the gain or loss is immediately recognized in earnings. Gains or losses on derivative instruments recognized in earnings are reported in the same line item as the associated hedged transaction in the Consolidated Statements of Operations. Hedge accounting is discontinued prospectively when (1) it is determined that a derivative is no longer effective in offsetting changes in the fair value or cash flows of a hedged item; (2) the derivative is sold, terminated, or exercised; (3) the hedged item no longer meets the definition of a firm commitment; or (4) it is unlikely that a forecasted transaction will occur within two months of the originally specified time period. When hedge accounting is discontinued because it is determined that the derivative no longer qualifies as an effective fair-value hedge, the derivative continues to be carried on the balance sheet at its fair value, and the changes in the fair value of the hedged asset or liability is recorded to the Consolidated Statements of Operations. When cash flow hedge accounting is discontinued because the derivative is sold, terminated, or exercised, the net gain or loss remains in accumulated other comprehensive income and is reclassified into earnings in the same period that the hedged transaction affects earnings or until it becomes unlikely that a hedged forecasted transaction will occur within two months of the originally scheduled time period. When hedge accounting is discontinued because a hedged item no longer meets the definition of a firm commitment, the derivative continues to be carried on the Consolidated Balance Sheet at its fair value, and any asset or liability that was recorded pursuant to recognition of the firm commitment is removed from the balance sheet and recognized as a gain or loss currently in earnings. When hedge accounting is discontinued because it is probable that a forecasted transaction will not occur within two months of the originally specified time period, the derivative continues to be carried on the balance sheet at its fair value, and gains and losses reported in accumulated other comprehensive income are recognized immediately in the Consolidated Statements of Operations.
Comprehensive Income	Comprehensive Income
Restructuring Charges	Restructuring Charges The Company incurs costs in connection with workforce reductions, facility consolidations and other actions. Such costs include employee termination benefits (one-time arrangements and benefits attributable to prior service), termination of contractual obligations, non-cash asset charges and other direct incremental costs. A liability is established through a charge to operations for (i) one-time employee termination benefits when management commits to a plan of termination; (ii) employee termination benefits that accumulate or vest based on prior service when it becomes probable that such termination benefits will be paid and the amount of the payment can be reasonably estimated; and (iii) contract termination costs when the contract is terminated or the Company becomes contractually obligated to make such payment. Other direct incremental costs are charged to operations as incurred. Charges recorded in connection with restructuring plans are included in “Other operating expense, net” in the Consolidated Statements of Operations.
Business Combinations	Business Combinations The Company accounts for business combinations by applying the acquisition method. The Company’s consolidated financial statements include the operating results of acquired entities from the respective dates of acquisition. The Company recognizes and measures the identifiable assets acquired, liabilities assumed, and any non-controlling interest as of the acquisition date at fair value. The excess, if any, of total consideration transferred in a business combination over the fair value of identifiable assets acquired, liabilities assumed, and any non-controlling interest is recognized as goodwill in the Consolidated Balance Sheets. Costs incurred by the Company to effect a business combination other than costs related to the issuance of debt or equity securities are included in the Consolidated Statements of Operations in the period the costs are incurred.
Earnings per Share	Earnings per Share The calculation of earnings per share (“EPS”) is based on the weighted-average number of the Company’s shares outstanding for the applicable period. The calculation of diluted earnings per share reflects the effect of all dilutive potential shares that were outstanding during the respective periods, unless the effect of doing so is antidilutive. The Company uses the treasury stock method to calculate the effect of outstanding share-based compensation awards.
Leases	Leases The Company has operating and financing leases for real estate, vehicles, IT equipment, office equipment and production equipment. The Company determines if an arrangement is a lease and identifies the classification of the lease as a financing lease or an operating lease at inception. Operating leases are recorded as operating lease right-of-use assets (“ROU assets”) in “Other assets” and operating lease liabilities in “Accrued liabilities” and “Other liabilities” in the Consolidated Balance Sheets. Financing leases are recorded as financing ROUs in “Property, plant and equipment” and lease liabilities in “Short-term borrowings and current maturities of long-term debt” and “Long-term debt, less current maturities” in the Consolidated Balance Sheets. At the date of commencement, lease liabilities are recorded at the present value of the future minimum lease payments over the lease term. The lease term is equal to the initial term at commencement plus any renewal or extension options that the Company is reasonably certain will be exercised. ROU assets at the date of commencement are equal to the amount of the initial lease liability, the initial direct costs incurred by the Company and any prepaid lease payments less any incentives received. An incremental borrowing rate is used in the determination of the present value of future lease payments. Incremental borrowing rates for a lease are based on the lease term, lease currency and the Company’s credit spread.
Recently Adopted Accounting Standards Updates ("ASU") & Recently Issued Accounting Pronouncements	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. In September 2022, the FASB issued ASU 2022-04, Liabilities - Supplier Finance Programs (Subtopic 405-50): Disclosure of Supplier Finance Program Obligations. This ASU requires that a buyer in a supplier finance program disclose sufficient information about the program to allow a user of financial statements to understand the program's nature, activity during the period, changes from period to period, and potential magnitude. The amendments in this update are effective for fiscal years beginning after December 15, 2022, except for the amendment on roll forward information, which is effective for fiscal years beginning after December 15, 2023. Early adoption is permitted. The Company adopted this guidance on January 1, 2023. The adoption did not have a material impact on our consolidated financial statements. The Company has agreements with financial institutions 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 Recently Issued Accounting Pronouncements In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, which improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segments expenses. The amendments in this update are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments in this update should be applied retrospectively to all prior periods presented in the financial statements. Upon transition, the segment expense categories and amounts disclosed in the prior periods should be based on the significant segment expense categories identified and disclosed in the period of adoption. The adoption will modify our disclosures but is not expected to have a material effect on our consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which addresses investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. The amendments in this update are effective for annual periods beginning after December 15, 2024. Early adoption is permitted for annual statements that have not yet been issued or made available for issuance. The amendments in this update should be applied on a prospective basis. Retrospective application is permitted. The adoption will modify our disclosures but is not expected to have a material effect on our consolidated financial statements.

Discontinued Operations (Tables

Discontinued Operations (Tables)	12 Months Ended
	Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Discontinued Operations	The results of operations of SVT and HPS are presented as discontinued operations for the years ended December 31, 2022 and 2021 as summarized below: Specialty Vehicle Technologies High Pressure Solutions Total 2022 2021 2022 2021 2022 2021 Revenues $ 6.6 $ 430.9 $ — $ 71.9 $ 6.6 $ 502.8 Cost of sales 6.5 321.3 — 60.2 6.5 381.5 Gross Profit 0.1 109.6 — 11.7 0.1 121.3 Selling and administrative expenses 0.1 35.7 — 5.3 0.1 41.0 Amortization of intangible assets — 10.4 — 2.4 — 12.8 Loss (gain) on sale (2.8) (298.3) — 207.7 (2.8) (90.6) Other operating expense, net 0.7 18.1 1.6 19.0 2.3 37.1 Income (Loss) from Discontinued Operations Before Income Taxes 2.1 343.7 (1.6) (222.7) 0.5 121.0 Benefit for income taxes (13.2) 87.1 (1.5) (7.7) (14.7) 79.4 Income (Loss) from Discontinued Operations, Net of Tax $ 15.3 $ 256.6 $ (0.1) $ (215.0) $ 15.2 $ 41.6 The significant non-cash operating items and capital expenditures reflected in cash flows of discontinued operations for the years ended December 31, 2022 and 2021 include the following: Specialty Vehicle Technologies High Pressure Solutions Total 2022 2021 2022 2021 2022 2021 Loss (gain) on sale $ (2.8) $ (298.3) $ — $ 207.7 $ (2.8) $ (90.6) Depreciation and amortization — 14.8 — 4.0 — 18.8 Stock-based compensation expense — 8.2 — 2.7 — 10.9 Capital expenditures — 1.6 — 0.3 — 1.9

Acquisitions (Tables)

Acquisitions (Tables)	12 Months Ended
	Dec. 31, 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 Air Treatment is complete. Initial accounting for all other acquisitions completed in 2023, including Roots, is substantially complete and any further measurement period adjustments are not expected to be material. Air Treatment Roots All Others Total Accounts receivable $ 26.1 $ 14.5 $ 11.8 $ 52.4 Inventories 43.9 34.2 21.1 99.2 Other current assets 2.1 2.9 6.2 11.2 Property, plant and equipment 18.4 42.1 5.0 65.5 Goodwill 279.9 106.6 125.0 511.5 Other intangible assets 238.6 116.9 25.4 380.9 Other noncurrent assets 7.6 4.5 0.4 12.5 Total current liabilities (35.9) (27.1) (19.1) (82.1) Deferred tax liabilities (54.8) — (3.7) (58.5) Other noncurrent liabilities (6.9) (2.1) (4.3) (13.3) Total consideration $ 519.0 $ 292.5 $ 167.8 $ 979.3 The following table summarizes the allocation of consideration to the fair values of identifiable assets acquired and liabilities assumed at the acquisition date. Seepex M-D Pneumatics and Kinney Vacuum Pumps Maximus Solutions All Others Total Consideration Accounts receivable $ 24.9 $ 4.8 $ 4.3 $ 9.4 $ 43.4 Inventories 42.4 3.8 2.9 10.1 59.2 Other current assets 1.9 0.2 0.2 0.3 2.6 Property, plant and equipment 40.6 16.2 2.1 15.0 73.9 Goodwill 249.0 81.5 75.9 79.6 486.0 Other intangible assets 239.2 82.5 39.5 95.9 457.1 Other noncurrent assets 1.4 — — — 1.4 Total current liabilities (35.1) (3.5) (2.4) (4.1) (45.1) Deferred tax liabilities (75.6) — (11.3) (4.2) (91.1) Other noncurrent liabilities (6.6) (1.5) (0.2) (1.8) (10.1) Total consideration $ 482.1 $ 184.0 $ 111.0 $ 200.2 $ 977.3
Schedule of Business Acquisitions by Acquisition, Contingent Consideration	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 complete. Dosatron International All others Total Consideration 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 noncurrent 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)	12 Months Ended
	Dec. 31, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring Activity	For the years ended December 31, 2023, 2022 and 2021, “Restructuring charges, net” were recognized within “Other operating expense, net” in the Consolidated Statements of Operations and consisted of the following. 2023 2022 2021 Industrial Technologies and Services $ 15.1 $ 20.1 $ 8.4 Precision and Science Technologies 4.1 8.7 — Corporate 0.7 0.5 5.0 Restructuring charges, net $ 19.9 $ 29.3 $ 13.4 The following table summarizes the activity associated with the Company’s restructuring programs (included in “Accrued liabilities” in the Consolidated Balance Sheets) for the years ended December 31, 2023 and 2022. 2023 2022 Balance at beginning of period $ 14.9 $ 12.3 Charged to expense - termination benefits 13.0 16.9 Charged to expense - other (1) 4.2 6.4 Payments (17.1) (20.6) Foreign currency translation and other 0.5 (0.1) Balance at end of period $ 15.5 $ 14.9 (1) Excludes $2.7 million and $6.0 million of non-cash charges that impacted restructuring expense but not the restructuring liabilities during the years ended December 31, 2023 and 2022, respectively.

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Schedule of Allowance for Credit Losses	The following table summarized the activity associated with allowance for credit losses for the years ended December 31, 2023, 2022 and 2021. 2023 2022 2021 Balance at beginning of period $ 47.2 $ 42.3 $ 50.9 Provision (benefit) charged to expense (1) 9.4 10.1 (4.3) Write-offs, net of recoveries (3.3) (3.2) (3.8) Foreign currency translation and other 0.5 (2.0) (0.5) Balance at end of period $ 53.8 $ 47.2 $ 42.3 (1) In the fourth quarter of 2021, the Company adjusted its allowance for credit losses in certain major portions of the business due to improved collection experience and reduction of past due receivables. The impact of these updates was a $6.6 million reduction in the allowance, with a corresponding benefit within “Selling and administrative expenses.”

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories as of December 31, 2023 and 2022 consisted of the following. 2023 2022 Raw materials, including parts and subassemblies $ 590.7 $ 625.0 Work-in-process 145.1 122.2 Finished goods 337.8 338.7 1,073.6 1,085.9 LIFO reserve (72.5) (60.5) Inventories $ 1,001.1 $ 1,025.4

Property, Plant, and Equipment

Property, Plant, and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment, net as of December 31, 2023 and 2022 consisted of the following. 2023 2022 Land and land improvements $ 67.7 $ 64.6 Buildings 337.1 298.2 Machinery and equipment 655.8 556.6 Office furniture and equipment 71.0 63.1 Construction in progress 80.6 59.3 1,212.2 1,041.8 Accumulated depreciation (500.8) (417.4) Property, plant and equipment, net $ 711.4 $ 624.4

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 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 years ended December 31, 2023 and 2022 are as follows. Industrial Technologies and Services Precision and Science Technologies Total Balance as of December 31, 2021 $ 4,177.3 $ 1,804.3 $ 5,981.6 Acquisitions 121.5 86.4 207.9 Foreign currency translation and other (1) (76.3) (49.0) (125.3) Balance as of December 31, 2022 4,222.5 1,841.7 6,064.2 Acquisitions 509.1 2.4 511.5 Foreign currency translation and other (1) 21.9 12.1 34.0 Balance as of December 31, 2023 $ 4,753.5 $ 1,856.2 $ 6,609.7 (1) Includes measurement period adjustments.
Schedule of Goodwill by Acquisition	The goodwill attributable to these businesses is as follows. 2023 Acquisitions Industrial Technologies and Services Precision and Science Technologies Total Air Treatment $ 279.9 $ — $ 279.9 Roots 106.6 — 106.6 Other acquisitions 122.6 2.4 125.0 $ 509.1 $ 2.4 $ 511.5 The Company acquired several businesses during the year ended December 31, 2022. The excess of the purchase price over the estimated fair values of intangible assets, identifiable assets and assumed liabilities was recorded as goodwill. The goodwill attributable to these businesses is as follows. 2022 Acquisitions Industrial Technologies and Services Precision and Science Technologies Total Dosatron International $ — $ 57.4 $ 57.4 Other acquisitions 121.5 29.0 150.5 $ 121.5 $ 86.4 $ 207.9
Schedule of Other Intangible Assets	Other intangible assets as of December 31, 2023 and 2022 consisted of the following. December 31, 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 $ 3,279.3 $ (1,585.4) $ 1,693.9 $ 3,029.0 $ (1,286.1) $ 1,742.9 Technology 413.8 (178.9) 234.9 360.0 (124.5) 235.5 Tradenames 52.2 (27.9) 24.3 46.2 (22.7) 23.5 Backlog 3.0 (1.3) 1.7 1.0 (0.3) 0.7 Other 117.1 (104.1) 13.0 113.7 (93.2) 20.5 Unamortized intangible assets: Tradenames 1,643.3 — 1,643.3 1,555.5 — 1,555.5 Total other intangible assets $ 5,508.7 $ (1,897.6) $ 3,611.1 $ 5,105.4 $ (1,526.8) $ 3,578.6

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities as of December 31, 2023 and 2022 consisted of the following: 2023 2022 Salaries, wages and related fringe benefits $ 262.4 $ 223.3 Contract liabilities 331.2 305.6 Product warranty 61.9 46.2 Operating lease liabilities 41.6 39.6 Restructuring 15.5 14.9 Taxes 78.4 63.3 Accrued interest 33.1 1.2 Other 171.4 164.7 Total accrued liabilities $ 995.5 $ 858.8
Schedule of Product Warranty Liability	A reconciliation of the changes in the accrued product warranty liability for the years ended December 31, 2023 and 2022 is as follows. 2023 2022 Balance at beginning of period $ 46.2 $ 42.5 Product warranty accruals 44.4 20.4 Acquired warranty 2.2 — Settlements (31.2) (14.8) Foreign currency translation and other 0.3 (1.9) Balance at end of period $ 61.9 $ 46.2

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Debt	Debt as of December 31, 2023 and 2022 consisted of the following. 2023 2022 Short-term borrowings $ 1.0 $ 4.5 Long-term debt Dollar Term Loan B, due 2027 (1)(2) $ 347.7 $ 1,846.3 Dollar Term Loan, due 2027 (1)(2) 892.3 901.4 5.400% Senior Notes due 2028 (1) 498.2 — 5.700% Senior Notes due 2033 (1) 992.6 — Finance leases and other long-term debt 15.2 22.2 Unamortized debt issuance costs (23.4) (21.8) Total long-term debt, net, including current maturities 2,722.6 2,748.1 Current maturities of long-term debt 29.6 32.0 Total long-term debt, net $ 2,693.0 $ 2,716.1 (1) This amount is net of unamortized discounts. Total unamortized discounts were $9.9 million and $2.1 million as of December 31, 2023 and 2022 , respectively. (2) As of December 31, 2023, the applicable interest rate was 7.21% and the weighted-average rate was 6.87% for the year ended December 31, 2023.

Benefit Plans (Tables)

Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Schedule of Reconciliation of Benefit Obligations	The following table provides a reconciliation of the changes in the benefit obligations and in the fair value of the plan assets for the periods described below. Pension Benefits Other Postretirement Benefits U.S. Plans Non-U.S. Plans 2023 2022 2023 2022 2023 2022 Reconciliation of Benefit Obligations: Beginning balance $ 319.8 $ 441.8 $ 247.5 $ 396.2 $ 21.0 $ 28.7 Service cost 0.1 4.4 2.6 3.3 — — Interest cost 15.7 11.3 11.1 5.9 0.9 0.7 Plan amendments — — 0.3 — — — Actuarial losses (gains) (1) 6.0 (105.0) 3.3 (112.0) (1.0) (5.0) Benefit payments (16.1) (26.5) (13.6) (11.2) (2.7) (3.3) Plan settlements (31.5) (6.2) — — — — Effect of foreign currency exchange rate changes — — 12.0 (34.7) 0.1 (0.1) Benefit obligations ending balance $ 294.0 $ 319.8 $ 263.2 $ 247.5 $ 18.3 $ 21.0 Reconciliation of Fair Value of Plan Assets: Beginning balance $ 263.6 $ 384.7 $ 196.4 $ 297.7 Actual return on plan assets 18.7 (92.5) 6.7 (66.9) Employer contributions 2.8 4.1 6.6 5.9 Benefit payments (16.1) (26.5) (13.6) (11.2) Plan settlements (31.5) (6.2) — — Effect of foreign currency exchange rate changes — — 9.9 (29.1) Fair value of plan assets ending balance $ 237.5 $ 263.6 $ 206.0 $ 196.4 Funded Status as of Period End $ (56.5) $ (56.2) $ (57.2) $ (51.1) $ (18.3) $ (21.0) (1) Actuarial losses (gains) primarily resulted from changes in discount rates.
Schedule of Component of Accumulated Other Comprehensive (Loss) Income	Amounts recognized as a component of accumulated other comprehensive income (loss) as of December 31, 2023 and 2022 that have not been recognized as a component of net periodic benefit cost are presented in the following table. Pension Benefits Other Postretirement Benefits U.S. Plans Non-U.S. Plans 2023 2022 2023 2022 2023 2022 Net actuarial gains $ (11.0) $ (11.8) $ (1.1) $ (10.4) $ (4.3) $ (4.4) Prior service cost — — 2.9 2.6 0.1 0.1 Amounts included in accumulated other comprehensive income (loss) $ (11.0) $ (11.8) $ 1.8 $ (7.8) $ (4.2) $ (4.3)
Schedule of Pension and Other Postretirement Benefit Liabilities included in Balance Sheets	Pension and other postretirement benefit liabilities and assets are included in the following captions in the Consolidated Balance Sheets as of December 31, 2023 and 2022. 2023 2022 Other assets $ 18.8 $ 17.8 Accrued liabilities (6.2) (9.1) Pension and other postretirement benefits (144.6) (137.0)
Schedule of Pension plans with an Accumulated Benefit Obligation in Excess of Plan Assets	The following table provides information for pension plans with an accumulated benefit obligation in excess of plan assets as of December 31, 2023 and 2022. U.S. Pension Plans Non-U.S. Pension Plans 2023 2022 2023 2022 Projected benefit obligations $ 294.0 $ 319.8 $ 105.4 $ 96.2 Accumulated benefit obligation 294.0 319.8 86.4 81.1 Fair value of plan assets 237.5 263.6 17.0 17.3
Schedule of Components of Net Periodic Benefit Cost (Income) and Other Amounts Recognized in Other Comprehensive (Loss) Income, Before Income Tax Effects	The following tables provide the components of net periodic benefit cost (income) and other amounts recognized in other comprehensive income (loss), before income tax effects, for the years ended December 31, 2023, 2022 and 2021. U.S. Pension Plans 2023 2022 2021 Net Periodic Benefit Cost: Service cost $ 0.1 $ 4.4 $ 5.3 Interest cost 15.7 11.3 10.8 Expected return on plan assets (13.2) (13.0) (12.2) Amortization of net actuarial loss 0.1 — — Net periodic benefit cost 2.7 2.7 3.9 Gain due to settlement (0.4) (0.5) (0.6) Total net periodic benefit cost recognized $ 2.3 $ 2.2 $ 3.3 Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss): Net actuarial loss (gain) $ 0.5 $ 0.4 $ (12.5) Amortization of net actuarial gain 0.3 0.5 0.6 Total recognized in other comprehensive income (loss) $ 0.8 $ 0.9 $ (11.9) Total recognized in net periodic benefit cost and other comprehensive income (loss) $ 3.1 $ 3.1 $ (8.6) Non-U.S. Pension Plans 2023 2022 2021 Net Periodic Benefit Cost (Income): Service cost $ 2.6 $ 3.3 $ 4.3 Interest cost 11.1 5.9 4.6 Expected return on plan assets (11.0) (11.8) (12.2) Amortization of prior service cost 0.1 0.1 0.2 Amortization of net actuarial loss (1.7) 0.3 4.9 Total net periodic benefit cost (income) recognized $ 1.1 $ (2.2) $ 1.8 Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss): Net actuarial loss (gain) $ 7.5 $ (33.3) $ (43.3) Amortization of net actuarial gain (loss) 1.7 (0.3) (4.9) Prior service cost 0.3 — — Amortization of prior service cost (0.1) (0.1) (0.2) Effect of foreign currency exchange rate changes 0.3 (3.2) (1.4) Total recognized in other comprehensive income (loss) $ 9.7 $ (36.9) $ (49.8) Total recognized in net periodic benefit cost (income) and other comprehensive income (loss) $ 10.8 $ (39.1) $ (48.0) Other Postretirement Benefits 2023 2022 2021 Net Periodic Benefit Cost (Income): Interest cost $ 0.9 $ 0.7 $ 0.6 Amortization of prior service cost 0.1 — 0.1 Amortization of net actuarial loss (1.1) — 0.1 Total net periodic benefit cost (income) recognized $ (0.1) $ 0.7 $ 0.8 Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss): Net actuarial gain $ (1.0) $ (5.0) $ (1.6) Amortization of net actuarial loss 1.1 — (0.1) Prior service cost — — 1.9 Amortization of prior service cost (0.1) — (0.1) Total recognized in other comprehensive income (loss) $ — $ (5.0) $ 0.1 Total recognized in net periodic benefit cost (income) and other comprehensive income (loss) $ (0.1) $ (4.3) $ 0.9
Schedule of Assumptions Used	The following actuarial assumptions were used to determine net periodic benefit cost (income) and benefit obligations for the years ended December 31, 2023, 2022 and 2021. U.S. Pension Plans Non-U.S. Pension Plans 2023 2022 2021 2023 2022 2021 Weighted-average actuarial assumptions used to determine net periodic benefit cost: Discount rate 5.2 % 2.7 % 2.4 % 4.5 % 1.6 % 1.1 % Expected long-term rate of return on plan assets 5.4 % 3.5 % 3.2 % 5.5 % 4.4 % 4.3 % Rate of compensation increases N/A 3.0 % 3.0 % 4.3 % 4.3 % 3.1 % Weighted-average actuarial assumptions used to determine benefit obligations: Discount rate 5.0 % 5.2 % 2.7 % 4.2 % 4.5 % 1.6 % Rate of compensation increases N/A N/A 3.0 % 5.0 % 4.3 % 4.3 % The following actuarial assumptions were used to determine other postretirement benefit plans costs and obligations for the years ended December 31, 2023, 2022 and 2021. Other Postretirement Benefits 2023 2022 2021 Discount rate used to determine net periodic benefit cost 4.9% - 5.2% 2.4% - 3.0% 1.8% - 2.4% Discount rate used to determine benefit obligations 4.9% - 5.1% 4.9% - 5.2% 2.4% - 3.0% Weighted-average actuarial assumptions used to determine other postretirement benefit plans costs and obligations: Healthcare cost trend rate assumed for next year 6.8 % 6.8 % 6.8 % Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) 4.4 % 4.5 % 4.5 % Year that the date reaches the ultimate trend rate 2035 2034 2034
Schedule of Expected Benefit Payments	The following table reflects the estimated benefit payments for the next five years and for the years 2029 through 2033. The estimated benefit payments for the non-U.S. pension plans were calculated using foreign exchange rates as of December 31, 2023. Pension Benefits Other Postretirement Benefits U.S. Plans Non-U.S. Plans 2024 $ 26.2 $ 13.8 $ 2.5 2025 23.9 14.8 2.3 2026 23.3 15.0 2.1 2027 22.6 14.7 2.0 2028 22.4 15.4 1.8 Aggregate 2029-2033 105.6 85.0 6.7
Schedule of Allocation of Plan Assets	The following table presents the long-term target allocations for these plans as of December 31, 2023. U.S. Plans UK Plan Asset category: Equity 13 % 18 % Fixed income 84 % 72 % Real estate and other 3 % 10 % Total 100 % 100 %
Schedule of Changes in Fair Value of Plan Assets	The following tables present the fair values of the Company’s pension plan assets as of December 31, 2023 and 2022 by asset category within the ASC 820 hierarchy (as defined in Note 20 “Fair Value Measurements”). December 31, 2023 Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs Investments Measured at NAV (5) Total Asset Category Cash and cash equivalents (1) $ 7.1 $ — $ — $ — $ 7.1 Equity funds: U.S. small-cap — — — 3.7 3.7 U.S. large-cap — 2.0 — 17.5 19.5 International equity (2) 14.2 10.5 — 17.2 41.9 Total equity funds 14.2 12.5 — 38.4 65.1 Fixed income funds: Corporate bonds - international — 26.9 — 15.8 42.7 UK index-linked gilts — 78.7 — — 78.7 U.S. fixed income - government securities — — — 43.2 43.2 U.S. fixed income - short duration — — — 1.3 1.3 U.S. fixed income - intermediate duration — — — 30.9 30.9 U.S. fixed income - long corporate — — — 122.3 122.3 Global fixed income — — — 7.2 7.2 Total fixed income funds — 105.6 — 220.7 326.3 Other types of investments: International real estate (3) — 15.4 — — 15.4 Other (4) — 29.6 — 29.6 Total $ 21.3 $ 133.5 $ 29.6 $ 259.1 $ 443.5 December 31, 2022 Quoted Prices in Active Markets for Identical Assets Significant Observable Inputs Significant Unobservable Inputs Investments Measured at NAV (5) Total Asset Category Cash and cash equivalents (1) $ 3.2 $ — $ — $ — $ 3.2 Equity funds: U.S. small-cap — — — 3.8 3.8 U.S. large-cap — 3.9 — 18.5 22.4 International equity (2) 20.1 16.9 — 27.5 64.5 Total equity funds 20.1 20.8 — 49.8 90.7 Fixed income funds: Corporate bonds - international — 44.6 — 7.6 52.2 UK index-linked gilts — 41.6 — — 41.6 U.S. fixed income - government securities — — — 33.1 33.1 U.S. fixed income - short duration — — — 1.8 1.8 U.S. fixed income - intermediate duration — — — 50.3 50.3 U.S. fixed income - long corporate — — — 135.7 135.7 Global fixed income — — — 8.0 8.0 Total fixed income funds — 86.2 — 236.5 322.7 Other types of investments: International real estate (3) — 16.6 — — 16.6 Other (4) — 26.8 — 26.8 Total $ 23.3 $ 123.6 $ 26.8 $ 286.3 $ 460.0 (1) Cash and cash equivalents consist of traditional domestic and foreign highly liquid short-term securities with the goal of providing liquidity and preservation of capital while maximizing return on assets. (2) The International category consists of investment funds focused on companies operating in developed and emerging markets outside of the U.S. These investments target broad diversification across large and mid/small-cap companies and economic sectors. (3) International real estate consists primarily of equity and debt investments made, directly or indirectly, in various interests in unimproved and improved real properties. (4) Other investments consist of insurance and reinsurance contracts securing the retirement benefits. The fair value of these contracts was calculated at the discount value of premiums paid by the Company, less expenses charged by the insurance providers. The insurance providers with which the Company has placed these contracts are well-known financial institutions with an established history of providing insurance services. (5) Certain investments that are measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of Other Comprehensive Income (Loss)	The before tax income (loss) and related income tax effect are as follows. Foreign Currency Translation Adjustments, Net Cash Flow Hedges Pension and Other Postretirement Benefit Plans Total Balance as of December 31, 2020 $ 74.6 $ — $ (60.4) $ 14.2 Before tax income (loss) (119.9) — 61.6 (58.3) Income tax effect 16.9 — (12.9) 4.0 Other comprehensive income (loss) (103.0) — 48.7 (54.3) Divestiture of foreign subsidiaries (1.5) — — (1.5) Balance as of December 31, 2021 $ (29.9) $ — $ (11.7) $ (41.6) Before tax income (loss) (237.1) 21.3 41.0 (174.8) Income tax effect (15.8) (5.3) (14.2) (35.3) Other comprehensive income (loss) (252.9) 16.0 26.8 (210.1) Balance as of December 31, 2022 $ (282.8) $ 16.0 $ 15.1 $ (251.7) Before tax income (loss) 23.0 (5.1) (10.5) 7.4 Income tax effect 11.8 1.3 3.6 16.7 Other comprehensive income (loss) 34.8 (3.8) (6.9) 24.1 Balance as of December 31, 2023 $ (248.0) $ 12.2 $ 8.2 $ (227.6)
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	Changes in accumulated other comprehensive income (loss) by component for the periods described below are presented in the following table (1) . Foreign Currency Translation Adjustments, Net Cash Flow Hedges Pension and Other Postretirement Benefit Plans Total Balance as of December 31, 2020 $ 74.6 $ — $ (60.4) $ 14.2 Other comprehensive income (loss) before reclassifications (103.0) — 45.2 (57.8) Amounts reclassified from accumulated other comprehensive income (loss) — — 3.5 3.5 Other comprehensive income (loss) (103.0) — 48.7 (54.3) Divestiture of foreign subsidiaries (1.5) — — (1.5) Balance as of December 31, 2021 $ (29.9) $ — $ (11.7) $ (41.6) Other comprehensive income (loss) before reclassifications (244.3) 13.9 26.9 (203.5) Amounts reclassified from accumulated other comprehensive income (loss) (8.6) 2.1 (0.1) (6.6) Other comprehensive income (loss) (252.9) 16.0 26.8 (210.1) Balance as of December 31, 2022 $ (282.8) $ 16.0 $ 15.1 $ (251.7) Other comprehensive income (loss) before reclassifications 49.0 7.9 (4.7) 52.2 Amounts reclassified from accumulated other comprehensive income (loss) (14.2) (11.7) (2.2) (28.1) Other comprehensive income (loss) 34.8 (3.8) (6.9) 24.1 Balance as of December 31, 2023 $ (248.0) $ 12.2 $ 8.2 $ (227.6) (1) All amounts are net of tax. Amounts in parentheses indicate debits.
Schedule of Reclassification out of Accumulated Other Comprehensive Income (Loss)	Reclassifications out of accumulated other comprehensive income (loss) for the years ended December 31, 2023, 2022 and 2021 are presented in the following table. Amount Reclassified from Accumulated Other Comprehensive Income (Loss) Details about Accumulated Other Comprehensive Income (Loss) Components 2023 2022 2021 Affected Line(s) in the Statement Where Net Income is Presented Cash flow hedges $ (15.6) $ 2.8 $ — Interest expense Benefit for income taxes 3.9 (0.7) — Benefit for income taxes Cash flow hedges, net of tax $ (11.7) $ 2.1 $ — Net investment hedges $ (19.0) $ (11.5) $ — Interest expense Provision for income taxes 4.8 2.9 — Benefit for income taxes Net investment hedges, net of tax $ (14.2) $ (8.6) $ — Amortization of defined benefit pension and other postretirement benefit items (1) $ (2.9) $ (0.1) $ 4.7 Cost of sales and Selling and administrative expenses Benefit for income taxes 0.7 — (1.2) Benefit for income taxes Amortization of defined benefit pension and other postretirement benefit items, net of tax $ (2.2) $ (0.1) $ 3.5 Total reclassifications for the period $ (28.1) $ (6.6) $ 3.5 (1) These components are included in the computation of net periodic benefit cost. See Note 12 “Benefit Plans” for additional details.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table provides disaggregated revenue by reportable segment for the years ended December 31, 2023 and 2022. Industrial Technologies and Services Precision and Science Technologies Total 2023 2022 2023 2022 2023 2022 Primary Geographic Markets United States $ 2,328.0 $ 1,900.3 $ 567.2 $ 550.1 $ 2,895.2 $ 2,450.4 Other Americas 373.1 320.5 29.0 29.7 402.1 350.2 Total Americas 2,701.1 2,220.8 596.2 579.8 3,297.3 2,800.6 EMEIA 1,800.8 1,442.8 466.7 434.5 2,267.5 1,877.3 Asia Pacific 1,130.9 1,041.5 180.4 196.9 1,311.3 1,238.4 Total $ 5,632.8 $ 4,705.1 $ 1,243.3 $ 1,211.2 $ 6,876.1 $ 5,916.3 Product Categories Original equipment (1) $ 3,425.9 $ 2,852.5 $ 990.9 $ 980.3 $ 4,416.8 $ 3,832.8 Aftermarket (2) 2,206.9 1,852.6 252.4 230.9 2,459.3 2,083.5 Total $ 5,632.8 $ 4,705.1 $ 1,243.3 $ 1,211.2 $ 6,876.1 $ 5,916.3 Pattern of Revenue Recognition Revenue recognized at point in time (3) $ 5,147.2 $ 4,314.3 $ 1,236.2 $ 1,204.1 $ 6,383.4 $ 5,518.4 Revenue recognized over time (4) 485.6 390.8 7.1 7.1 492.7 397.9 Total $ 5,632.8 $ 4,705.1 $ 1,243.3 $ 1,211.2 $ 6,876.1 $ 5,916.3 (1) Revenues from sales of capital equipment within the Industrial Technologies and Services segment and sales of components to original equipment manufacturers in the Precision and Science Technologies segment. (2) Revenues from sales of spare parts, accessories, other components and services in support of maintaining customer owned, installed base of the Company’s original equipment. (3) Revenues from short and long duration product and service contracts recognized at a point in time when control is transferred to the customer generally when product delivery has occurred and services have been rendered. (4) Revenues primarily from long duration ETO product contracts, certain multi-year service contracts, and certain contracts for the 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 December 31, 2023 and 2022 presented in the Consolidated Balance Sheets. December 31, 2023 December 31, 2022 Accounts receivable, net $ 1,234.2 $ 1,122.0 Contract assets 85.6 70.6 Contract liabilities - current 331.2 305.6 Contract liabilities - noncurrent 1.0 1.1

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Income (Loss) Before Income Taxes	Income before income taxes for the years ended December 31, 2023, 2022 and 2021 consisted of the following. 2023 2022 2021 U.S. $ 356.0 $ 267.5 $ 121.3 Non-U.S. 675.1 474.7 391.7 Income before income taxes $ 1,031.1 $ 742.2 $ 513.0
Schedule of Components of Provision (Benefit) for Income Taxes	The following table details the components of the Provision (benefit) for income taxes for the years ended December 31, 2023, 2022 and 2021. 2023 2022 2021 Current: U.S. federal $ 111.5 $ 66.5 $ (33.1) U.S. state and local 23.7 21.5 5.8 Non-U.S. 181.7 147.4 109.1 Deferred: U.S. federal (44.0) (37.3) (19.5) U.S. state and local (6.9) (5.5) (0.9) Non-U.S. (26.0) (43.0) (83.2) Provision (benefit) for income taxes $ 240.0 $ 149.6 $ (21.8)
Schedule of Effective Income Tax Rate Reconciliation	The U.S. federal corporate statutory rate is reconciled to the Company’s effective income tax rate for the years ended December 31, 2023, 2022 and 2021 as follows. 2023 2022 2021 U.S. federal corporate statutory rate 21.0 % 21.0 % 21.0 % State and local taxes, less federal tax benefit 1.3 2.0 1.1 Net effects of foreign tax rate differential 1.8 1.5 1.0 Withholding tax 1.5 2.1 3.0 Repatriation cost (2.0) (3.2) 1.4 Global Intangible Low-Tax Income (“GILTI”) 0.7 0.3 2.3 ASC 740-30 (formerly APB 23) 1.7 1.9 2.9 Valuation allowance changes 1.7 0.5 (5.4) Uncertain tax positions 0.9 0.2 (1.3) Equity compensation (0.6) (0.6) (2.5) Nondeductible acquisition costs 0.4 0.4 0.4 Foreign Derived Intangible Income (“FDII”) deduction (1.4) (1.6) (3.2) Tax credits (0.7) (1.1) (0.8) Income not subject to tax (1.6) (3.5) (3.3) Utilization of capital loss — — (9.1) Non-U.S. deferred change related to asset sales — — (8.0) Return to provision adjustment 0.1 — (1.3) Other, net (1.5) 0.3 (2.4) Effective income tax rate 23.3 % 20.2 % (4.2) %
Schedule of Deferred Tax Assets and Liabilities	The principal items that gave rise to deferred income tax assets and liabilities as of December 31, 2023 and 2022 are as follows. 2023 2022 Deferred Tax Assets: Reserves and accruals $ 80.1 $ 78.5 Allowance for credit losses 7.8 7.4 Inventory reserve 5.9 4.9 Pension and postretirement benefit plans 25.3 25.4 Tax loss carryforwards 81.3 107.2 Deferred taxes recorded in other comprehensive income 13.4 0.1 Foreign tax credit carryforwards 57.9 53.8 Other 32.2 31.8 Total deferred tax assets 303.9 309.1 Valuation allowance (115.7) (107.3) Deferred Tax Liabilities: LIFO inventory (20.2) (21.8) Investment in partnership (35.7) (36.3) Property, plant and equipment (42.5) (36.0) Intangible assets (635.4) (663.6) Unremitted foreign earnings (35.5) (32.4) Total deferred tax liabilities (769.3) (790.1) Net deferred income tax liability $ (581.1) $ (588.3)
Schedule of Tax Attributes and Related Valuation Allowance	The Company believes that it is more likely than not that it will realize its deferred tax assets through the reduction of future taxable income, other than for the deferred tax assets reflected below. Tax attributes and related valuation allowances as of December 31, 2023 were as follows. Tax Benefit Valuation Allowance Carryforward Period Ends Tax Attributes to be Carried Forward U.S. federal net operating loss $ 0.1 $ (0.1) 2031- 2037 U.S. federal capital loss 0.6 (0.6) 2028 U.S. federal tax credit 57.9 (57.9) 2024-2033 Alternative minimum tax credit 0.5 (0.1) Unlimited U.S. state and local net operating losses 2.7 — 2026-2041 U.S. state capital loss 0.3 (0.1) 2028 Non U.S. net operating losses 62.8 (38.5) Unlimited Non U.S. capital losses 0.6 (0.6) Unlimited Excess interest 14.2 (14.0) Unlimited Other deferred tax assets 3.8 (3.8) Unlimited Total tax carryforwards $ 143.5 $ (115.7)
Schedule of Valuation Allowance	A reconciliation of the changes in the valuation allowance for deferred tax assets for the years ended December 31, 2023, 2022 and 2021 are as follows. 2023 2022 2021 Beginning balance $ 107.3 $ 106.4 $ 140.6 Charged to tax expense 6.4 3.1 (27.6) Charged to other accounts 2.0 (2.2) (6.6) Ending balance $ 115.7 $ 107.3 $ 106.4
Schedule of Unrecognized Tax Benefits Roll Forward	Below is a tabular reconciliation of the changes in total unrecognized tax benefits during the years ended December 31, 2023, 2022 and 2021. 2023 2022 2021 Beginning balance $ 10.8 $ 21.1 $ 27.8 Gross increases for tax positions of prior years 0.4 0.4 0.8 Gross decreases for tax positions of prior years — (3.7) — Gross increases for tax positions of current year 7.9 4.1 5.3 Settlements — (9.9) — Lapse of statute of limitations (0.2) (0.1) (11.8) Changes due to currency fluctuations 0.2 (1.1) (1.0) Ending balance $ 19.1 $ 10.8 $ 21.1

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Components of Lease Expense	The components of lease expense for the years ended December 31, 2023 and 2022 are as follows. 2023 2022 Operating lease cost $ 53.7 $ 45.8 Finance lease cost Amortization of right-of-use assets $ 1.5 $ 1.5 Interest on lease liabilities 0.9 1.0 Total finance lease cost $ 2.4 $ 2.5 Short-term lease cost $ 1.9 $ 4.3
Schedule of Supplemental Cash Flow Information Related to Leases	Supplemental cash flow information related to leases for the years ended December 31, 2023 and 2022 is as follows. 2023 2022 Supplemental Cash Flows Information Cash Paid for Amounts Included in the Measurement of Lease Liabilities Operating cash flows from operating leases $ 53.7 $ 47.0 Operating cash flows from finance leases 1.0 1.0 Financing cash flows from finance leases 1.2 1.2 Leased Assets Obtained in Exchange for New Operating Lease Liabilities 62.5 63.2
Schedule of Supplemental Balance Sheet Information Related to Leases	Supplemental balance sheet information related to leases is as follows. December 31, 2023 December 31, 2022 Operating leases Other assets $ 164.4 $ 126.9 Accrued liabilities $ 41.6 $ 39.6 Other liabilities 116.9 80.4 Total operating lease liabilities $ 158.5 $ 120.0 Finance Leases Property, plant and equipment $ 12.3 $ 13.7 Short-term borrowings and current maturities of long-term debt $ 1.3 $ 1.2 Long-term debt, less current maturities 13.6 14.9 Total finance lease liabilities $ 14.9 $ 16.1 Weighted Average Remaining Lease Term (in years) Operating leases 5.1 4.5 Finance leases 10.3 11.1 Weighted Average Discount Rate Operating leases 3.6 % 2.9 % Finance leases 6.4 % 6.4 %
Schedule of Maturities of Operating Lease Liabilities	Maturities of lease liabilities as of December 31, 2023 are as follows. Operating Leases Finance Leases 2024 $ 47.2 $ 2.2 2025 39.5 2.0 2026 32.0 2.0 2027 20.9 2.0 2028 13.7 2.1 Thereafter 28.4 10.6 Total lease payments $ 181.7 $ 20.9 Less imputed interest (23.2) (6.0) Total $ 158.5 $ 14.9
Schedule of Maturities of Finance Lease Liabilities	Maturities of lease liabilities as of December 31, 2023 are as follows. Operating Leases Finance Leases 2024 $ 47.2 $ 2.2 2025 39.5 2.0 2026 32.0 2.0 2027 20.9 2.0 2028 13.7 2.1 Thereafter 28.4 10.6 Total lease payments $ 181.7 $ 20.9 Less imputed interest (23.2) (6.0) Total $ 158.5 $ 14.9

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-based Compensation Expense	Stock-based compensation expense for the years ended December 31, 2023, 2022 and 2021 are included in “Cost of sales” and “Selling and administrative expenses” in the Consolidated Statements of Operations and are as follows. 2023 2022 2021 Stock-based compensation expense recognized in: Continuing operations $ 51.9 $ 78.9 $ 87.2 Discontinued operations — — 10.9 Total stock-based compensation expense $ 51.9 $ 78.9 $ 98.1
Schedule of Stock Option Awards	A summary of the Company’s stock option (including SARs) activity for the year ended December 31, 2023 is presented in the following table (underlying shares in thousands). Shares Weighted-Average Exercise Price Wtd. Avg. Remaining Contractual Term (years) Aggregate Intrinsic Value of In-The-Money Options Outstanding at December 31, 2022 6,383 $ 25.22 Granted 763 58.11 Exercised or Settled (1,662) 18.61 Forfeited (199) 50.31 Expired (3) 41.52 Outstanding at December 31, 2023 5,282 31.09 5.3 $ 244.3 Vested at December 31, 2023 3,644 22.45 3.9 $ 200.0
Schedule of Fair Value Assumptions	The following assumptions were used to estimate the fair value of options granted during the years ended December 31, 2023, 2022 and 2021. 2023 2022 2021 Expected life of options (in years) 6.3 - 7.5 6.3 6.3 Risk-free interest rate 3.8% - 4.6% 1.9% - 3.9% 0.9% - 1.3% Assumed volatility 35.6% - 36.6% 37.1% - 38.3% 38.6% - 39.4% Expected dividend rate 0.1% 0.1% - 0.2% 0.0% - 0.1% The following assumptions were used to estimate the fair value of performance share units granted during the year ended December 31, 2023, 2022 and 2021 using the Monte Carlo simulation pricing model. 2023 2022 2021 Expected term (in years) 2.9 2.9 - 5.0 2.9 Risk-free interest rate 4.4% 1.7% - 3.4% 0.2 % Assumed volatility 31.8% 35.0% - 36.4% 36.9 % Expected dividend rate 0.1 % 0.2 % 0.0 %
Schedule of Restricted Stock Unit Activity	A summary of the Company’s restricted stock unit activity for the year ended December 31, 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 451 59.22 Vested (378) 37.51 Forfeited (121) 52.03 Non-vested as of December 31, 2023 957 52.18
Schedule of Performance Stock Unit Activity	A summary of the Company’s performance stock unit activity for the year ended December 31, 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 (86) 64.42 Non-vested as of December 31, 2023 1,380 49.53

Hedging Activities, Derivativ_2

Hedging Activities, Derivative Instruments and Credit Risk (Tables)	12 Months Ended
	Dec. 31, 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 Consolidated Balance Sheets as of December 31, 2023 and 2022. December 31, 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 $ 8.2 $ 1.2 $ — $ — Cross-currency interest rate swap contracts Net investment 1,054.2 15.7 — — 63.1 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 Comprehensive (Loss) Income	Gains on derivatives designated as cash flow hedges included in the Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2023, 2022 and 2021 are presented in the table below. 2023 2022 2021 Gain recognized in OCI on derivatives $ 10.5 $ 18.3 $ — Gain (loss) reclassified from AOCI into income (effective portion) (1) 15.6 (2.8) — (1) Gains (losses) on derivatives reclassified from AOCI into income were included in “Interest expense” in the 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 years ended December 31, 2023, 2022 and 2021 are presented in the table below. 2023 2022 2021 Gain (loss) recognized in OCI on derivatives $ (17.5) $ 0.6 $ — Gain reclassified from AOCI into income (effective portion) (1) 19.0 11.5 — (1) Gains (losses) on derivatives reclassified from AOCI into income were included in “Interest expense” in the Consolidated Statements of Operations.
Schedule of Gains (Losses) on Derivative Instruments Not Designated as Accounting Hedges and Total Net Foreign Currency (Losses) Gains	The Company’s gains (losses) on derivative instruments not designated as accounting hedges and total net foreign currency transaction gains (losses) for the years ended December 31, 2023, 2022 and 2021 were as follows. 2023 2022 2021 Foreign currency forward contracts gains (losses) 0.3 3.4 (3.2) Total foreign currency transaction gains (losses), net (5.1) 5.9 12.0

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis. December 31, 2023 Level 1 Level 2 Level 3 Total Financial Assets Trading securities held in deferred compensation plan (1) $ 16.8 $ — $ — $ 16.8 Interest rate swaps (2) — 9.4 — 9.4 Cross-currency interest rate swaps (3) — 15.7 — 15.7 Total $ 16.8 $ 25.1 $ — $ 41.9 Financial Liabilities Deferred compensation plan (1) $ 24.7 $ — $ — $ 24.7 Cross-currency interest rate swaps (3) — 63.1 — 63.1 Contingent consideration (5) — — 42.2 42.2 Total $ 24.7 $ 63.1 $ 42.2 $ 130.0 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 (5) — 14.1 — 14.1 Interest rate caps (6) — 18.1 — 18.1 Cross-currency interest rate swaps (3) — 17.7 — 17.7 Foreign currency forwards (4) — — — — Total $ 12.3 $ 49.9 $ — $ 62.2 Financial Liabilities Deferred compensation plan (1) $ 19.6 $ — $ — $ 19.6 Cross-currency interest rate swaps (3) — 28.7 — 28.7 Contingent consideration (5) — — 43.9 43.9 Foreign currency forwards (4) — — — — 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. 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 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. (4) Based on calculations that use readily observable market parameters as their basis, such as spot and forward rates. (5) 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. (6) 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.
Schedule of Activity for Contingent Consideration	The following table provides a reconciliation of the activity for contingent consideration for the years ended December 31, 2023 and 2022. 2023 2022 Balance at beginning of period $ 43.9 $ 8.5 Acquisitions 13.5 36.1 Changes in fair value 7.3 0.8 Payments (23.2) (1.8) Foreign currency translation and other 0.7 0.3 Balance at end of period $ 42.2 $ 43.9

Other Operating Expense, Net (T

Other Operating Expense, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Schedule of Other Operating Expense, Net	The components of “Other operating expense, net” for the years ended December 31, 2023, 2022 and 2021 were as follows. 2023 2022 2021 Other Operating Expense, Net Foreign currency transaction losses (gains), net $ 5.1 $ (5.9) $ (12.0) Restructuring charges, net (1) 19.9 29.3 13.4 Acquisition and other transaction related expenses (2) 52.2 38.7 55.3 Other, net 0.5 2.8 5.2 Total other operating expense, net $ 77.7 $ 64.9 $ 61.9 (1) See Note 5 “Restructuring.” (2) 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.

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 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 years ended December 31, 2023, 2022 and 2021. 2023 2022 2021 Revenue Industrial Technologies and Services $ 5,632.8 $ 4,705.1 $ 4,161.0 Precision and Science Technologies 1,243.3 1,211.2 991.4 Total Revenue $ 6,876.1 $ 5,916.3 $ 5,152.4 Segment Adjusted EBITDA Industrial Technologies and Services $ 1,587.3 $ 1,214.0 $ 1,033.7 Precision and Science Technologies 372.8 347.5 291.4 Total Segment Adjusted EBITDA 1,960.1 1,561.5 1,325.1 Less items to reconcile Segment Adjusted EBITDA to Income from Continuing Operations Before Income Taxes: Corporate expenses not allocated to segments 173.3 126.7 133.2 Interest expense 156.7 103.2 87.7 Depreciation and amortization expense (1) 455.4 429.4 418.0 Restructuring and related business transformation costs (2) 22.9 32.3 18.8 Acquisition related expenses and non-cash charges (3) 63.9 40.7 65.2 Stock-based compensation (4) 51.9 85.6 95.9 Foreign currency transaction losses (gains), net 5.1 (5.9) (12.0) Loss on extinguishment of debt 13.5 1.1 9.0 Adjustments to LIFO inventories 12.0 36.1 33.2 Cybersecurity incident costs 2.3 — — Gain on settlement of post-acquisition contingencies (5) — (6.2) (30.1) Other adjustments (6) (28.0) (23.7) (6.8) Income from Continuing Operations Before Income Taxes $ 1,031.1 $ 742.2 $ 513.0 (1) Depreciation and amortization expense excludes $3.7 million, $3.4 million and $4.1 million of depreciation of rental equipment for the years ended December 31, 2023, 2022 and 2021, respectively. (2) Restructuring and related business transformation costs consist of the following. 2023 2022 2021 Restructuring charges $ 19.9 $ 29.3 $ 13.4 Facility reorganization, relocation and other costs 3.0 3.0 3.1 Other, net — — 2.3 Total restructuring and related business transformation costs $ 22.9 $ 32.3 $ 18.8 (3) 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. (4) Represents stock-based compensation expense recognized for the year ended December 31, 2022 of $78.9 million and associated employer taxes of $6.7 million. Represents stock-based compensation expense recognized for the year ended December 31, 2021 of $87.2 million and associated employer taxes of $8.7 million. (5) Represents gains from settling post-acquisition contingencies related to the Merger outside of the measurement period. (6) Includes (i) pension and other postretirement benefits (“OPEB”) plan costs other than service cost, (ii) interest income on cash and cash equivalents and (iii) other miscellaneous adjustments. The following tables provide summarized information about the Company’s reportable segments. Depreciation and Amortization Expense 2023 2022 2021 Industrial Technologies and Services $ 313.8 $ 294.7 $ 296.6 Precision and Science Technologies 135.4 133.6 108.3 Corporate and other 9.9 4.5 17.2 Total depreciation and amortization expense $ 459.1 $ 432.8 $ 422.1 Capital Expenditures 2023 2022 2021 Industrial Technologies and Services $ 83.9 $ 66.3 $ 53.1 Precision and Science Technologies 18.5 17.7 10.7 Corporate and other 3.0 10.6 0.3 Total capital expenditures $ 105.4 $ 94.6 $ 64.1 Identifiable Assets 2023 2022 Industrial Technologies and Services $ 10,138.8 $ 9,204.7 Precision and Science Technologies 3,464.7 3,540.4 Corporate and other 1,960.0 2,020.8 Total identifiable assets $ 15,563.5 $ 14,765.9
Scheduled of Property, Plant and Equipment by Geographic Region	The following table presents property, plant and equipment, net by geographic region for the years ended December 31, 2023, and 2022. 2023 2022 United States $ 286.0 $ 225.7 Other Americas 12.8 18.5 Total Americas 298.8 244.2 EMEIA (1) 245.7 216.6 Asia Pacific 166.9 163.6 Total $ 711.4 $ 624.4 (1) Europe, Middle East, India and Africa (“EMEIA”)

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 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 for the years ended December 31, 2023, 2022 and 2021 were as follows. 2023 2022 2021 Weighted-average shares outstanding - Basic 404.8 405.3 414.8 Dilutive effect of outstanding share-based compensation awards 4.2 4.9 6.4 Weighted-average shares outstanding - Diluted 409.0 410.2 421.2

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash and Cash Equivalents [Abstract]
Restricted cash and cash equivalents	$ 1.2	$ 1.3
Goodwill and Indefinite-Lived Intangible Assets [Abstract]
Fair value percentage of reporting units using income approach	75%
Fair value percentage of reporting units using market approach	25%
Guarantees and Product Warranties [Abstract]
Warranty period after time of sale (in months)	12 months
Income Taxes [Abstract]
Income tax expense under the Tax Act	$ 7.2
Research and Development [Abstract]
Research and development expense	$ 108	$ 91	$ 74
Buildings | Minimum
Cash and Cash Equivalents [Abstract]
Estimated useful lives of property, plant and equipment (in years)	10 years
Buildings | Maximum
Cash and Cash Equivalents [Abstract]
Estimated useful lives of property, plant and equipment (in years)	30 years
Machinery and Equipment | Minimum
Cash and Cash Equivalents [Abstract]
Estimated useful lives of property, plant and equipment (in years)	7 years
Machinery and Equipment | Maximum
Cash and Cash Equivalents [Abstract]
Estimated useful lives of property, plant and equipment (in years)	10 years
Office Equipment | Minimum
Cash and Cash Equivalents [Abstract]
Estimated useful lives of property, plant and equipment (in years)	3 years
Office Equipment | Maximum
Cash and Cash Equivalents [Abstract]
Estimated useful lives of property, plant and equipment (in years)	10 years

New Accounting Standards - Narr

New Accounting Standards - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
Supplier finance program, obligation, statement of financial position	Accounts payable	Accounts payable
Outstanding payment obligation	$ 24.3	$ 9.7

Discontinued Operations - Narra

Discontinued Operations - Narrative (Details) $ in Millions	Feb. 14, 2021 USD ($)	Dec. 31, 2023 business	Jun. 01, 2021 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses that comprise discontinued operations | business		2
Discontinued Operations, Disposed of by Sale | Specialty Vehicle Technologies
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 percent)	55%
Common equity interest retained after disposal (as percent)	45%

Discontinued Operations - Resul

Discontinued Operations - Results of Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Income (Loss) from Discontinued Operations, Net of Tax	$ 0	$ 15.2	$ 41.6
Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		6.6	502.8
Cost of sales		6.5	381.5
Gross Profit		0.1	121.3
Selling and administrative expenses		0.1	41
Amortization of intangible assets		0	12.8
Loss (gain) on sale		(2.8)	(90.6)
Other operating expense, net		2.3	37.1
Income (Loss) from Discontinued Operations Before Income Taxes		0.5	121
Benefit for income taxes		(14.7)	79.4
Income (Loss) from Discontinued Operations, Net of Tax		15.2	41.6
Discontinued Operations, Disposed of by Sale | Specialty Vehicle Technologies
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		6.6	430.9
Cost of sales		6.5	321.3
Gross Profit		0.1	109.6
Selling and administrative expenses		0.1	35.7
Amortization of intangible assets		0	10.4
Loss (gain) on sale		(2.8)	(298.3)
Other operating expense, net		0.7	18.1
Income (Loss) from Discontinued Operations Before Income Taxes		2.1	343.7
Benefit for income taxes		(13.2)	87.1
Income (Loss) from Discontinued Operations, Net of Tax		15.3	256.6
Discontinued Operations, Disposed of by Sale | High Pressure Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues		0	71.9
Cost of sales		0	60.2
Gross Profit		0	11.7
Selling and administrative expenses		0	5.3
Amortization of intangible assets		0	2.4
Loss (gain) on sale		0	207.7
Other operating expense, net		1.6	19
Income (Loss) from Discontinued Operations Before Income Taxes		(1.6)	(222.7)
Benefit for income taxes		(1.5)	(7.7)
Income (Loss) from Discontinued Operations, Net of Tax		$ (0.1)	$ (215)

Discontinued Operations - Cash

Discontinued Operations - Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Stock-based compensation expense	$ 51.9	$ 78.9	$ 98.1
Discontinued Operations, Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss (gain) on sale		(2.8)	(90.6)
Depreciation and amortization		0	18.8
Stock-based compensation expense		0	10.9
Capital expenditures		0	1.9
Discontinued Operations, Disposed of by Sale | Specialty Vehicle Technologies
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss (gain) on sale		(2.8)	(298.3)
Depreciation and amortization		0	14.8
Stock-based compensation expense		0	8.2
Capital expenditures		0	1.6
Discontinued Operations, Disposed of by Sale | High Pressure Solutions
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Loss (gain) on sale		0	207.7
Depreciation and amortization		0	4
Stock-based compensation expense		0	2.7
Capital expenditures		$ 0	$ 0.3

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details)

12 Months Ended

Aug. 18, 2023 USD ($)

Apr. 01, 2023 USD ($)

Feb. 01, 2023 USD ($)

Jan. 03, 2023 USD ($)

Dec. 01, 2022 USD ($)

Nov. 01, 2022 USD ($)

Oct. 01, 2022 USD ($)

Sep. 01, 2022 USD ($)

Feb. 01, 2022 USD ($)

Dec. 01, 2021 USD ($)

Oct. 29, 2021 USD ($)

Aug. 31, 2021 USD ($)

Jul. 30, 2021 USD ($)

Jan. 31, 2021 USD ($)

Dec. 31, 2023 USD ($) business

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Business Acquisition [Line Items]

Total capital expenditures

$ 105,400,000

$ 94,600,000

$ 64,100,000

Pump Group of Tuthill Corporation

Business Acquisition [Line Items]

Total capital expenditures

$ 84,800,000

Air Treatment

Business Acquisition [Line Items]

Cash consideration

$ 519,000,000

Amount of goodwill deductible

$ 0

Paragon Tank Truck Equipment

Business Acquisition [Line Items]

Cash consideration

$ 42,200,000

EcoPlant Technological Innovation Ltd

Business Acquisition [Line Items]

Cash consideration

$ 29,500,000

Contingent consideration

$ 17,000,000

Roots

Business Acquisition [Line Items]

Cash consideration

$ 292,500,000

Other acquisitions

Business Acquisition [Line Items]

Amount of goodwill deductible

$ 159,900,000

Number of businesses acquired | business

10

Aggregate consideration

$ 83,300,000

19,900,000

44,600,000

Total

Business Acquisition [Line Items]

Revenue from acquisition date

293,700,000

Operating income (loss) from acquisition date

16,100,000

Houdstermaatschappij Jorc B.V.

Business Acquisition [Line Items]

Revenue from acquisition date

124,400,000

38,400,000

Operating income (loss) from acquisition date

19,500,000

3,400,000

Houdstermaatschappij Jorc B.V. | Industrial Technologies and Services

Business Acquisition [Line Items]

Cash consideration

$ 30,200,000

Westwood Technical Limited

Business Acquisition [Line Items]

Cash consideration

$ 8,100,000

Contingent consideration

9,300,000

Holtec Gas Systems LLC

Business Acquisition [Line Items]

Cash consideration

13,000,000

Hydro Prokav Pumps (India) Private Limited

Business Acquisition [Line Items]

Cash consideration

$ 14,000,000

Dosatron International L.L.C

Business Acquisition [Line Items]

Cash consideration

$ 89,500,000

Contingent consideration

$ 14,700,000

Pedro Gil Construcciones Mecanicas, S.L.

Business Acquisition [Line Items]

Cash consideration

$ 18,400,000

Everest Blower Systems Private Limited

Business Acquisition [Line Items]

Cash consideration

$ 75,300,000

Contingent consideration

$ 12,100,000

M-D Pneumatics and Kinney Vacuum Pumps

Business Acquisition [Line Items]

Cash consideration

$ 184,000,000

Revenue from acquisition date

369,500,000

356,100,000

145,900,000

Operating income (loss) from acquisition date

$ 45,900,000

$ 31,800,000

$ (4,500,000)

Maximus Solutions

Business Acquisition [Line Items]

Cash consideration

$ 111,000,000

Amount of goodwill deductible

$ 0

Seepex

Business Acquisition [Line Items]

Cash consideration

$ 482,100,000

Amount of goodwill deductible

$ 0

Air Dimensions Inc

Business Acquisition [Line Items]

Cash consideration

$ 70,800,000

Acquisitions - Business Acquisi

Acquisitions - Business Acquisitions by Acquisition, Consideration (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill	$ 6,609.7	$ 6,064.2	$ 5,981.6
Total
Business Acquisition [Line Items]
Accounts receivable	52.4
Inventories	99.2
Other current assets	11.2
Property, plant and equipment	65.5
Goodwill	511.5
Other intangible assets	380.9
Other noncurrent assets	12.5
Total current liabilities	(82.1)
Deferred tax liabilities	(58.5)
Other noncurrent liabilities	(13.3)
Total consideration	979.3
Air Treatment
Business Acquisition [Line Items]
Accounts receivable	26.1
Inventories	43.9
Other current assets	2.1
Property, plant and equipment	18.4
Goodwill	279.9
Other intangible assets	238.6
Other noncurrent assets	7.6
Total current liabilities	(35.9)
Deferred tax liabilities	(54.8)
Other noncurrent liabilities	(6.9)
Total consideration	519
Roots
Business Acquisition [Line Items]
Accounts receivable	14.5
Inventories	34.2
Other current assets	2.9
Property, plant and equipment	42.1
Goodwill	106.6
Other intangible assets	116.9
Other noncurrent assets	4.5
Total current liabilities	(27.1)
Deferred tax liabilities	0
Other noncurrent liabilities	(2.1)
Total consideration	292.5
All others
Business Acquisition [Line Items]
Accounts receivable	11.8	16.2
Inventories	21.1	20.4
Other current assets	6.2	1.3
Property, plant and equipment	5	8.9
Goodwill	125	151.9
Other intangible assets	25.4	43
Other noncurrent assets	0.4	0.9
Total current liabilities	(19.1)	(30.7)
Deferred tax liabilities	(3.7)	(9.7)
Other noncurrent liabilities	(4.3)	(1.9)
Total consideration	$ 167.8	200.3
Total Consideration
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 noncurrent assets		14.7
Total current liabilities		(34.2)
Deferred tax liabilities		(23.5)
Other noncurrent liabilities		(1.9)
Total consideration		304.5
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 noncurrent assets		13.8
Total current liabilities		(3.5)
Deferred tax liabilities		(13.8)
Other noncurrent liabilities		0
Total consideration		$ 104.2

Acquisitions - Assets Acquired

Acquisitions - Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Aug. 31, 2021	Jul. 30, 2021	Jan. 31, 2021
Estimated Fair Value [Abstract]
Goodwill	$ 6,609.7	$ 6,064.2	$ 5,981.6
Total Consideration
Estimated Fair Value [Abstract]
Accounts receivable			43.4
Inventories			59.2
Other current assets			2.6
Property, plant and equipment			73.9
Goodwill			486
Other intangible assets			457.1
Other noncurrent assets			1.4
Total current liabilities			(45.1)
Deferred tax liabilities			(91.1)
Other noncurrent liabilities			(10.1)
Total consideration			977.3
Seepex
Estimated Fair Value [Abstract]
Accounts receivable				$ 24.9
Inventories				42.4
Other current assets				1.9
Property, plant and equipment				40.6
Goodwill				249
Other intangible assets				239.2
Other noncurrent assets				1.4
Total current liabilities				(35.1)
Deferred tax liabilities				(75.6)
Other noncurrent liabilities				(6.6)
Total consideration				$ 482.1
M-D Pneumatics and Kinney Vacuum Pumps
Estimated Fair Value [Abstract]
Accounts receivable						$ 4.8
Inventories						3.8
Other current assets						0.2
Property, plant and equipment						16.2
Goodwill						81.5
Other intangible assets						82.5
Other noncurrent assets						0
Total current liabilities						(3.5)
Deferred tax liabilities						0
Other noncurrent liabilities						(1.5)
Total consideration						$ 184
Maximus Solutions
Estimated Fair Value [Abstract]
Accounts receivable					$ 4.3
Inventories					2.9
Other current assets					0.2
Property, plant and equipment					2.1
Goodwill					75.9
Other intangible assets					39.5
Other noncurrent assets					0
Total current liabilities					(2.4)
Deferred tax liabilities					(11.3)
Other noncurrent liabilities					(0.2)
Total consideration					$ 111
All Others
Estimated Fair Value [Abstract]
Accounts receivable			9.4
Inventories			10.1
Other current assets			0.3
Property, plant and equipment			15
Goodwill			79.6
Other intangible assets			95.9
Other noncurrent assets			0
Total current liabilities			(4.1)
Deferred tax liabilities			(4.2)
Other noncurrent liabilities			(1.8)
Total consideration			$ 200.2

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	12 Months Ended			48 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023
Restructuring Costs [Abstract]
Restructuring charges	$ 19.9	$ 29.3	$ 13.4
2023 Plan | Corporate
Restructuring Costs [Abstract]
Restructuring charges	0.4
2023 Plan | Industrial Technologies and Services | Operating segments
Restructuring Costs [Abstract]
Restructuring charges	10.8
2023 Plan | Precision and Science Technologies | Operating segments
Restructuring Costs [Abstract]
Restructuring charges	4.3
2020 Plan
Restructuring Costs [Abstract]
Restructuring charges	19.9	29.3	13.4	$ 130.1
2020 Plan | Corporate
Restructuring Costs [Abstract]
Restructuring charges	0.7	0.5	5	11.6
2020 Plan | Industrial Technologies and Services
Restructuring Costs [Abstract]
Restructuring charges	15.1	20.1	8.4	103.1
2020 Plan | Precision and Science Technologies
Restructuring Costs [Abstract]
Restructuring charges	$ 4.1	$ 8.7	$ 0	$ 15.4

Restructuring - Restructuring C

Restructuring - Restructuring Charges (Details) - USD ($) $ in Millions	12 Months Ended			48 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 19.9	$ 29.3	$ 13.4
2020 Plan
Restructuring Cost and Reserve [Line Items]
Restructuring charges	19.9	29.3	13.4	$ 130.1
2020 Plan | Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0.7	0.5	5	11.6
2020 Plan | Industrial Technologies and Services
Restructuring Cost and Reserve [Line Items]
Restructuring charges	15.1	20.1	8.4	103.1
2020 Plan | Precision and Science Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 4.1	$ 8.7	$ 0	$ 15.4

Restructuring - Activity in Res

Restructuring - Activity in Restructuring Programs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Restructuring Reserve [Roll Forward]
Balance at beginning of period	$ 14.9	$ 12.3
Charged to expense - termination benefits	13	16.9
Charged to expense - other	4.2	6.4
Payments	(17.1)	(20.6)
Foreign currency translation and other	0.5	(0.1)
Balance at end of period	15.5	14.9
Other operating income (expense) | 2020 Plan
Restructuring Reserve [Roll Forward]
Non-cash charges	$ 2.7	$ 6

Allowance for Credit Losses - S

Allowance for Credit Losses - Summary (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of the period		$ 47.2	$ 42.3	$ 50.9
Provision (benefit) charged to expense		9.4	10.1	(4.3)
Write-offs, net of recoveries		(3.3)	(3.2)	(3.8)
Foreign currency translation and other		0.5	(2)	(0.5)
Balance at end of the period	$ 42.3	$ 53.8	$ 47.2	$ 42.3
Allowance of selling and administrative expense	$ 6.6

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Inventories [Abstract]
Raw materials, including parts and subassemblies	$ 590.7	$ 625
Work-in-process	145.1	122.2
Finished goods	337.8	338.7
Inventories, gross	1,073.6	1,085.9
LIFO reserve	(72.5)	(60.5)
Inventories	$ 1,001.1	$ 1,025.4

Inventories - Narrative (Detail

Inventories - Narrative (Details)	Dec. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Percentage of LIFO inventory	37%	42%

Property, Plant, and Equipmen_2

Property, Plant, and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Land and land improvements	$ 67.7	$ 64.6
Buildings	337.1	298.2
Machinery and equipment	655.8	556.6
Office furniture and equipment	71	63.1
Construction in progress	80.6	59.3
Property, plant and equipment, gross	1,212.2	1,041.8
Accumulated depreciation	(500.8)	(417.4)
Property, plant and equipment, net	$ 711.4	$ 624.4

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill by Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Roll Forward]
Balance at beginning of period	$ 6,064.2	$ 5,981.6
Acquisitions	511.5	207.9
Foreign currency translation and other	34	(125.3)
Balance at end of period	6,609.7	6,064.2
Industrial Technologies and Services
Goodwill [Roll Forward]
Balance at beginning of period	4,222.5	4,177.3
Acquisitions	509.1	121.5
Foreign currency translation and other	21.9	(76.3)
Balance at end of period	4,753.5	4,222.5
Precision and Science Technologies
Goodwill [Roll Forward]
Balance at beginning of period	1,841.7	1,804.3
Acquisitions	2.4	86.4
Foreign currency translation and other	12.1	(49)
Balance at end of period	$ 1,856.2	$ 1,841.7

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Goodwill by Acquisition (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Business Combination, Goodwill [Abstract]
Goodwill acquired	$ 511.5	$ 207.9
Air Treatment
Business Combination, Goodwill [Abstract]
Goodwill acquired	279.9
Roots
Business Combination, Goodwill [Abstract]
Goodwill acquired	106.6
Dosatron International
Business Combination, Goodwill [Abstract]
Goodwill acquired		57.4
Other acquisitions
Business Combination, Goodwill [Abstract]
Goodwill acquired	125	150.5
Industrial Technologies and Services
Business Combination, Goodwill [Abstract]
Goodwill acquired	509.1	121.5
Industrial Technologies and Services | Air Treatment
Business Combination, Goodwill [Abstract]
Goodwill acquired	279.9
Industrial Technologies and Services | Roots
Business Combination, Goodwill [Abstract]
Goodwill acquired	106.6
Industrial Technologies and Services | Dosatron International
Business Combination, Goodwill [Abstract]
Goodwill acquired		0
Industrial Technologies and Services | Other acquisitions
Business Combination, Goodwill [Abstract]
Goodwill acquired	122.6	121.5
Precision and Science Technologies
Business Combination, Goodwill [Abstract]
Goodwill acquired	2.4	86.4
Precision and Science Technologies | Air Treatment
Business Combination, Goodwill [Abstract]
Goodwill acquired	0
Precision and Science Technologies | Roots
Business Combination, Goodwill [Abstract]
Goodwill acquired	0
Precision and Science Technologies | Dosatron International
Business Combination, Goodwill [Abstract]
Goodwill acquired		57.4
Precision and Science Technologies | Other acquisitions
Business Combination, Goodwill [Abstract]
Goodwill acquired	$ 2.4	$ 29

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill [Line Items]
Goodwill impairment	$ 0	$ 0	$ 0
Amortization of intangible assets	367,500,000	347,600,000	332,900,000
Anticipated amortization of intangible assets in 2024	370,000,000
Anticipated amortization of intangible assets in 2025	290,000,000
Anticipated amortization of intangible assets in 2026	230,000,000
Anticipated amortization of intangible assets in 2027	230,000,000
Anticipated amortization of intangible assets in 2028	200,000,000
Tradenames
Goodwill [Line Items]
Impairment of indefinite-lived intangible assets	0	0	$ 0
Industrial Technologies and Services
Goodwill [Line Items]
Accumulated impairment loss of goodwill	$ 220,600,000	$ 220,600,000

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Amortized intangible assets:
Accumulated Amortization	$ (1,897.6)	$ (1,526.8)
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	5,508.7	5,105.4
Accumulated Amortization	(1,897.6)	(1,526.8)
Net Carrying Amount	3,611.1	3,578.6
Tradenames
Unamortized intangible assets:
Carrying amount	1,643.3	1,555.5
Customer lists and relationships
Amortized intangible assets:
Gross Carrying Amount	3,279.3	3,029
Accumulated Amortization	(1,585.4)	(1,286.1)
Net Carrying Amount	1,693.9	1,742.9
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(1,585.4)	(1,286.1)
Technology
Amortized intangible assets:
Gross Carrying Amount	413.8	360
Accumulated Amortization	(178.9)	(124.5)
Net Carrying Amount	234.9	235.5
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(178.9)	(124.5)
Tradenames
Amortized intangible assets:
Gross Carrying Amount	52.2	46.2
Accumulated Amortization	(27.9)	(22.7)
Net Carrying Amount	24.3	23.5
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(27.9)	(22.7)
Backlog
Amortized intangible assets:
Gross Carrying Amount	3	1
Accumulated Amortization	(1.3)	(0.3)
Net Carrying Amount	1.7	0.7
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(1.3)	(0.3)
Other
Amortized intangible assets:
Gross Carrying Amount	117.1	113.7
Accumulated Amortization	(104.1)	(93.2)
Net Carrying Amount	13	20.5
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (104.1)	$ (93.2)

Accrued Liabilities - Accrued L

Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Accrued Liabilities [Abstract]
Salaries, wages and related fringe benefits	$ 262.4	$ 223.3
Contract liabilities	331.2	305.6
Product warranty	61.9	46.2
Operating lease liabilities	41.6	39.6
Restructuring	15.5	14.9
Taxes	78.4	63.3
Accrued interest	33.1	1.2
Other	171.4	164.7
Total accrued liabilities	$ 995.5	$ 858.8

Accrued Liabilities - Accrued P

Accrued Liabilities - Accrued Product Warranty Liability (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at the beginning of period	$ 46.2	$ 42.5
Product warranty accruals	44.4	20.4
Acquired warranty	2.2	0
Settlements	(31.2)	(14.8)
Foreign currency translation and other	0.3	(1.9)
Balance at the end of period	$ 61.9	$ 46.2

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Dec. 31, 2023	Aug. 14, 2023	Dec. 31, 2022	Feb. 29, 2020
Debt [Abstract]
Short-term borrowings	$ 1		$ 4.5
Long-term debt
Finance leases and other long-term debt	15.2		22.2
Unamortized debt issuance costs	(23.4)		(21.8)
Total long-term debt, net, including current maturities	2,722.6		2,748.1
Current maturities of long-term debt	29.6		32
Total long-term debt, net	2,693		2,716.1
Unamortized discounts	9.9		2.1
Dollar Term Loan B, due 2027
Long-term debt
Long-term debt	$ 347.7		1,846.3	$ 1,900
Unamortized discounts				$ 2.4
Stated interest rate of debt instrument (as a percent)	7.21%
Weighted-average interest rate of debt instrument (as a percent)	6.87%
Dollar Term Loan, due 2027
Long-term debt
Long-term debt	$ 892.3		901.4
Stated interest rate of debt instrument (as a percent)	7.21%
Weighted-average interest rate of debt instrument (as a percent)	6.87%
5.400% Senior Notes Due 2028 | Senior Notes
Long-term debt
Long-term debt	$ 498.2		0
Stated interest rate of debt instrument (as a percent)		5.40%
5.700% Senior Notes Due 2033 | Senior Notes
Long-term debt
Long-term debt	$ 992.6		$ 0
Stated interest rate of debt instrument (as a percent)		5.70%

Debt - Senior Notes (Details)

Debt - Senior Notes (Details) - Senior Notes	Aug. 14, 2023 USD ($)
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,500,000,000
Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price, percentage	100%
Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price, percentage	101%
5.400% Senior Notes Due 2028
Debt Instrument [Line Items]
Aggregate principal amount	$ 500,000,000
Stated interest rate of debt instrument (as a percent)	5.40%
5.700% Senior Notes Due 2033
Debt Instrument [Line Items]
Aggregate principal amount	$ 1,000,000,000
Stated interest rate of debt instrument (as a percent)	5.70%

Debt - Senior Secured Credit Fa

Debt - Senior Secured Credit Facilities (Details) € in Millions

1 Months Ended

12 Months Ended

Sep. 30, 2021 USD ($)

Feb. 28, 2020 USD ($)

Aug. 17, 2017 USD ($)

Jun. 30, 2017

Aug. 31, 2023 USD ($)

Dec. 31, 2023 USD ($)

Dec. 31, 2022 USD ($)

Dec. 31, 2021 USD ($)

Apr. 21, 2023 USD ($)

Mar. 31, 2023 USD ($)

Jun. 29, 2020 USD ($)

Feb. 29, 2020 USD ($)

Feb. 28, 2020 EUR (€)

Jun. 28, 2019 USD ($)

Dec. 13, 2018

Dec. 12, 2018

Jul. 30, 2018 USD ($)

Aug. 17, 2017 EUR (€)

Mar. 04, 2016 USD ($)

Mar. 03, 2016 USD ($)

Jul. 30, 2013 USD ($)

Jul. 30, 2013 EUR (€)

Debt Instrument [Line Items]

"Change of Control" threshold (as a percent)

50%

35%

Unamortized discounts

$ 9,900,000

$ 2,100,000

Loss on extinguishment of debt

$ 9,000,000

$ 13,500,000

1,100,000

$ 9,000,000

Federal Funds Effective Rate

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

0.50%

SOFR

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

1%

Term of variable rate

1 month

Base Rate

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

1%

Senior Secured Credit Facility

Debt Instrument [Line Items]

Aggregate principal amount

$ 2,825,000,000

Commitment fee (as a percent)

0.375%

Commitment fee upon achievement of Level 1 status (as a percent)

0.25%

Commitment fee upon achievement of Level 2 status (as a percent)

0.125%

Senior Secured Credit Facility | Maximum

Debt Instrument [Line Items]

Consolidated senior secured debt to consolidated EBITDA ratio at Level 1 status

1.75

Consolidated senior secured debt to consolidated EBITDA ratio at Level 2 status

1.50

Senior Secured Credit Facility | Incremental Term Loans / Revolving Commitments

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 1,600,000,000

Proportion of Consolidated EBITDA to determine maximum borrowing capacity (as a percent)

100%

Senior Secured Credit Facility | Condition One | Maximum

Debt Instrument [Line Items]

Consolidated senior secured debt to consolidated EBITDA ratio

4.50

Senior Secured Credit Facility | Condition Two | Maximum

Debt Instrument [Line Items]

Consolidated senior secured debt to consolidated EBITDA ratio

5

Original Dollar Term Loan Facility

Debt Instrument [Line Items]

Aggregate principal amount

1,900,000,000

Maximum borrowing capacity

$ 1,285,500,000

Long-term debt

$ 927,600,000

Unamortized discounts

1,200,000

Original Dollar Term Loan Facility | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

0%

1%

Euro Term Loan due in 2020

Debt Instrument [Line Items]

Aggregate principal amount | €

€ 400

Maximum borrowing capacity | €

€ 615

Long-term debt | €

€ 601.2

Unamortized discounts | €

€ 0.8

Write-off of unamortized debt issuance costs

$ 2,000,000

Euro Term Loan due in 2020 | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

0%

1%

Euro Term Loan due in 2020 | SOFR

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

2%

Revolving credit facility, due 2020

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 269,900,000

$ 360,000,000

400,000,000

Decrease in borrowing capacity

40,000,000

Minimum aggregate principal amount for extension amendments

$ 35,000,000

$ 50,000,000

Long-term debt

$ 1,100,000,000

Increase (decrease) in debt instrument

100,000,000

Revolving credit facility, due 2020 | Ingersoll Rand

Debt Instrument [Line Items]

Aggregate principal amount

2,000,000,000

Letters of credit outstanding

$ 400,000,000

Revolving credit facility, due 2020 | SOFR

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

2%

Revolving credit facility, due 2020 | Base Rate

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

1%

Revolving credit facility, due 2020 | EURIBOR

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

2%

Revolving credit facility, due 2020 | SONIA

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

2%

Revolving credit facility, due 2024

Debt Instrument [Line Items]

Aggregate principal amount

$ 450,000,000

Basis spread on variable rate (as a percent)

0%

Letters of credit outstanding

$ 0

Long-term debt obligations

0

Unused borrowing capacity

$ 2,000,000,000

Revolving credit facility, due 2024 | Ingersoll Rand

Debt Instrument [Line Items]

Long-term debt

$ 1,000,000,000

Letters of credit outstanding

400,000,000

Revolving credit facility, due 2024 | EURIBOR

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

0%

Revolving credit facility, due 2024 | SONIA

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

0%

Revolving credit facility, due 2024 | Letter of Credit

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 200,000,000

$ 200,000,000

Dollar Term Loan B, due 2027

Debt Instrument [Line Items]

Long-term debt

$ 347,700,000

1,846,300,000

1,900,000,000

Unamortized discounts

$ 2,400,000

Write-off of unamortized debt issuance costs

$ 12,600,000

Dollar Term Loan B, due 2027 | SOFR

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

1.75%

Dollar Term Loan B, due 2027 | Base Rate

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

0.75%

Dollar Term Loan Series A, due 2027

Debt Instrument [Line Items]

Long-term debt

$ 400,000,000

Unamortized discounts

$ 6,000,000

Dollar Term Loan, due 2027

Debt Instrument [Line Items]

Long-term debt

$ 892,300,000

$ 901,400,000

Repayments of debt

$ 396,000,000

Dollar Term Loan, due 2024 | SOFR

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

1.75%

Dollar Term Loan, due 2024 | Base Rate

Debt Instrument [Line Items]

Basis spread on variable rate (as a percent)

0.75%

Revolving Credit Facility

Debt Instrument [Line Items]

Write-off of unamortized debt issuance costs

$ 900,000

Unused borrowing capacity

$ 2,000,000,000

$ 1,100,000,000

Debt - Prepayments (Details)

Debt - Prepayments (Details)	12 Months Ended
	Dec. 31, 2023
Senior Secured Credit Facility
Debt Instrument [Line Items]
Reduction in proportion of the net cash proceeds of all non-ordinary course asset sales for prepayment of outstanding term loan (as a percent)	50%
Proportion of annual excess cash flow for prepayment of outstanding loan under restrictive covenants (as a percent)	25%
Proportion of the net cash proceeds of all non-ordinary course asset sales for prepayment of outstanding term loan (as a percent)	100%
Proportion of net cash proceeds of any incurrence of debt for prepayment of outstanding term loan (as a percent)	100%
Senior Secured Credit Facility | Maximum
Debt Instrument [Line Items]
Consolidated secured debt to consolidated EBITDA ratio considered for prepayment of outstanding term loan	2.25
Senior Secured Credit Facility | Minimum
Debt Instrument [Line Items]
Consolidated secured debt to consolidated EBITDA ratio considered for prepayment of outstanding term loan	2
Dollar Term Loan, due 2024
Debt Instrument [Line Items]
Proportion of prepayment premium of principal amount (as a percent)	1%
Proportion of original principal amount for quarterly installment payment of debt amortization (as a percent)	1%
Dollar Term Loan Series A, due 2027
Debt Instrument [Line Items]
Proportion of prepayment premium of principal amount (as a percent)	1%

Debt - Certain Covenants and Ev

Debt - Certain Covenants and Events of Default (Details)	12 Months Ended
	Dec. 31, 2023
Minimum | Senior Secured Credit Facility
Debt Instrument [Line Items]
Proportion of non-cash collateralized letters of credit (as a percent)	40%
Maximum | Revolving credit facility, due 2020
Debt Instrument [Line Items]
Consolidated senior secured debt to consolidated EBITDA ratio	6.25

Debt - Fair Value of Debt and T

Debt - Fair Value of Debt and Total Debt Maturities (Details) $ in Millions	Dec. 31, 2023 USD ($)
Debt Disclosure [Abstract]
Fair value of debt	$ 2,800
Debt maturities, next twelve months	30.6
Debt maturities, year two	30
Debt maturities, year three	29.7
Debt maturities, year four	1,157.3
Debt maturities, year five	501.5
Debt maturities, after year five	$ 1,007.8

Benefit Plans - Reconciliation

Benefit Plans - Reconciliation of Changes in Benefit Obligations and Fair Value of Plan Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Fair Value of Plan Assets:
Beginning balance	$ 460
Fair value of plan assets ending balance	443.5	$ 460
Pension Benefits | U.S. Plans
Reconciliation of Benefit Obligations:
Beginning balance	319.8	441.8
Service cost	0.1	4.4	$ 5.3
Interest cost	15.7	11.3	10.8
Plan amendments	0	0
Actuarial losses (gains)	6	(105)
Benefit payments	(16.1)	(26.5)
Plan settlements	(31.5)	(6.2)
Effect of foreign currency exchange rate changes	0	0
Benefit obligations ending balance	294	319.8	441.8
Reconciliation of Fair Value of Plan Assets:
Beginning balance	263.6	384.7
Actual return on plan assets	18.7	(92.5)
Employer contributions	2.8	4.1
Benefit payments	(16.1)	(26.5)
Plan settlements	(31.5)	(6.2)
Effect of foreign currency exchange rate changes	0	0
Fair value of plan assets ending balance	237.5	263.6	384.7
Funded Status as of Period End	(56.5)	(56.2)
Pension Benefits | Non-U.S. Plans
Reconciliation of Benefit Obligations:
Beginning balance	247.5	396.2
Service cost	2.6	3.3	4.3
Interest cost	11.1	5.9	4.6
Plan amendments	0.3	0
Actuarial losses (gains)	3.3	(112)
Benefit payments	(13.6)	(11.2)
Plan settlements	0	0
Effect of foreign currency exchange rate changes	12	(34.7)
Benefit obligations ending balance	263.2	247.5	396.2
Reconciliation of Fair Value of Plan Assets:
Beginning balance	196.4	297.7
Actual return on plan assets	6.7	(66.9)
Employer contributions	6.6	5.9
Benefit payments	(13.6)	(11.2)
Plan settlements	0	0
Effect of foreign currency exchange rate changes	9.9	(29.1)
Fair value of plan assets ending balance	206	196.4	297.7
Funded Status as of Period End	(57.2)	(51.1)
Other Postretirement Benefits
Reconciliation of Benefit Obligations:
Beginning balance	21	28.7
Service cost	0	0
Interest cost	0.9	0.7	0.6
Plan amendments	0	0
Actuarial losses (gains)	(1)	(5)
Benefit payments	(2.7)	(3.3)
Plan settlements	0	0
Effect of foreign currency exchange rate changes	0.1	(0.1)
Benefit obligations ending balance	18.3	21	$ 28.7
Reconciliation of Fair Value of Plan Assets:
Funded Status as of Period End	$ (18.3)	$ (21)

Benefit Plans - Recognized as C

Benefit Plans - Recognized as Component of Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Pension Benefits | U.S. Plans
Amounts Recognized as a Component of Accumulated Other Comprehensive (Loss) Income [Abstract]
Net actuarial gains	$ (11)	$ (11.8)
Prior service cost	0	0
Amounts included in accumulated other comprehensive income (loss)	(11)	(11.8)
Pension Benefits | Non-U.S. Plans
Amounts Recognized as a Component of Accumulated Other Comprehensive (Loss) Income [Abstract]
Net actuarial gains	(1.1)	(10.4)
Prior service cost	2.9	2.6
Amounts included in accumulated other comprehensive income (loss)	1.8	(7.8)
Other Postretirement Benefits
Amounts Recognized as a Component of Accumulated Other Comprehensive (Loss) Income [Abstract]
Net actuarial gains	(4.3)	(4.4)
Prior service cost	0.1	0.1
Amounts included in accumulated other comprehensive income (loss)	$ (4.2)	$ (4.3)

Benefit Plans - Pension and Oth

Benefit Plans - Pension and Other Postretirement Benefit Liabilities in Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Total Pension and Other Postretirement Benefit Liabilities Included in Balance Sheets [Abstract]
Other assets	$ 18.8	$ 17.8
Accrued liabilities	(6.2)	(9.1)
Pension and other postretirement benefits	$ (144.6)	$ (137)

Benefit Plans - Accumulated Ben

Benefit Plans - Accumulated Benefit Obligation in Excess of Plan Assets (Details) - Pension Benefits - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
U.S. Plans
Accumulated Benefit Obligation in Excess of Plan Assets [Abstract]
Projected benefit obligations	$ 294	$ 319.8
Accumulated benefit obligation	294	319.8
Fair value of plan assets	237.5	263.6
Accumulated benefit obligation	294	319.8
Non-U.S. Plans
Accumulated Benefit Obligation in Excess of Plan Assets [Abstract]
Projected benefit obligations	105.4	96.2
Accumulated benefit obligation	86.4	81.1
Fair value of plan assets	17	17.3
Accumulated benefit obligation	$ 254.8	$ 237.1

Benefit Plans - Net Periodic Be

Benefit Plans - Net Periodic Benefit Cost and Other Comprehensive (Loss) Income, Before Income Tax Effects (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits | U.S. Plans
Net Periodic Benefit Cost:
Service cost	$ 0.1	$ 4.4	$ 5.3
Interest cost	15.7	11.3	10.8
Expected return on plan assets	(13.2)	(13)	(12.2)
Amortization of net actuarial loss	0.1	0	0
Net periodic benefit cost	2.7	2.7	3.9
Gain due to settlement	(0.4)	(0.5)	(0.6)
Total net periodic benefit cost recognized	2.3	2.2	3.3
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss):
Net actuarial loss (gain)	0.5	0.4	(12.5)
Amortization of net actuarial gain (loss)	0.3	0.5	0.6
Total recognized in other comprehensive income (loss)	0.8	0.9	(11.9)
Total recognized in net periodic benefit cost and other comprehensive income (loss)	3.1	3.1	(8.6)
Pension Benefits | Non-U.S. Plans
Net Periodic Benefit Cost:
Service cost	2.6	3.3	4.3
Interest cost	11.1	5.9	4.6
Expected return on plan assets	(11)	(11.8)	(12.2)
Amortization of prior-service cost	0.1	0.1	0.2
Amortization of net actuarial loss	(1.7)	0.3	4.9
Net periodic benefit cost	1.1	(2.2)	1.8
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss):
Net actuarial loss (gain)	7.5	(33.3)	(43.3)
Amortization of net actuarial gain (loss)	1.7	(0.3)	(4.9)
Prior service cost	0.3	0	0
Amortization of prior service cost	(0.1)	(0.1)	(0.2)
Effect of foreign currency exchange rate changes	0.3	(3.2)	(1.4)
Total recognized in other comprehensive income (loss)	9.7	(36.9)	(49.8)
Total recognized in net periodic benefit cost and other comprehensive income (loss)	10.8	(39.1)	(48)
Other Postretirement Benefits
Net Periodic Benefit Cost:
Service cost	0	0
Interest cost	0.9	0.7	0.6
Amortization of prior-service cost	0.1	0	0.1
Amortization of net actuarial loss	(1.1)	0	0.1
Total net periodic benefit cost recognized	(0.1)	0.7	0.8
Other Changes in Plan Assets and Benefit Obligations Recognized in Other Comprehensive Income (Loss):
Net actuarial loss (gain)	(1)	(5)	(1.6)
Amortization of net actuarial gain (loss)	1.1	0	(0.1)
Prior service cost	0	0	1.9
Amortization of prior service cost	(0.1)	0	(0.1)
Total recognized in other comprehensive income (loss)	0	(5)	0.1
Total recognized in net periodic benefit cost and other comprehensive income (loss)	$ (0.1)	$ (4.3)	$ 0.9

Benefit Plans - Weighted Averag

Benefit Plans - Weighted Average Actuarial Assumptions (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pension Benefits | U.S. Plans
Weighted-average actuarial assumptions used to determine net periodic benefit cost:
Discount rate (as a percent)	5.20%	2.70%	2.40%
Expected long-term rate of return on plan assets (as a percent)	5.40%	3.50%	3.20%
Rate of compensation increases (as a percent)		3%	3%
Weighted-average actuarial assumptions used to determine benefit obligations:
Discount rate (as a percent)	5%	5.20%	2.70%
Rate of compensation increases (as a percent)			3%
Pension Benefits | Non-U.S. Plans
Weighted-average actuarial assumptions used to determine net periodic benefit cost:
Discount rate (as a percent)	4.50%	1.60%	1.10%
Expected long-term rate of return on plan assets (as a percent)	5.50%	4.40%	4.30%
Rate of compensation increases (as a percent)	4.30%	4.30%	3.10%
Weighted-average actuarial assumptions used to determine benefit obligations:
Discount rate (as a percent)	4.20%	4.50%	1.60%
Rate of compensation increases (as a percent)	5%	4.30%	4.30%
Other Postretirement Benefits | Minimum
Weighted-average actuarial assumptions used to determine net periodic benefit cost:
Discount rate (as a percent)	4.90%	2.40%	1.80%
Weighted-average actuarial assumptions used to determine benefit obligations:
Discount rate (as a percent)	4.90%	4.90%	2.40%
Other Postretirement Benefits | Maximum
Weighted-average actuarial assumptions used to determine net periodic benefit cost:
Discount rate (as a percent)	5.20%	3%	2.40%
Weighted-average actuarial assumptions used to determine benefit obligations:
Discount rate (as a percent)	5.10%	5.20%	3%

Benefit Plans - Assumed Health

Benefit Plans - Assumed Health Care Cost Trend Rate (Details) - Other Postretirement Benefits	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Weighted-average actuarial assumptions used to determine other postretirement benefit plans costs and obligations:
Healthcare cost trend rate assumed for next year (as a percent)	6.80%	6.80%	6.80%
Rate to which the cost trend rate is assumed to decline (the ultimate trend rate) (as a percent)	4.40%	4.50%	4.50%

Benefit Plans - Estimated Benef

Benefit Plans - Estimated Benefit Payments for the Next Five Years (Details) $ in Millions	Dec. 31, 2023 USD ($)
Pension Benefits | U.S. Plans
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2024	$ 26.2
2025	23.9
2026	23.3
2027	22.6
2028	22.4
Aggregate 2029-2033	105.6
Expected future employer contributions in the next year	5.1
Pension Benefits | Non-U.S. Plans
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2024	13.8
2025	14.8
2026	15
2027	14.7
2028	15.4
Aggregate 2029-2033	85
Expected future employer contributions in the next year	6.7
Other Postretirement Benefits
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2024	2.5
2025	2.3
2026	2.1
2027	2
2028	1.8
Aggregate 2029-2033	6.7
Expected future employer contributions in the next year	$ 2.5

Benefit Plans - Long-Term Targe

Benefit Plans - Long-Term Target Allocations (Details)	12 Months Ended
	Dec. 31, 2023
Defined Benefit Plan, Plan with Accumulated Benefit Obligation in Excess of Plan Assets [Abstract]
Proportion of U.S. and U.K pension plans in total benefit obligation (as a percent)	79%
Proportion of U.S. and U.K pension plans in total plan assets (as a percent)	90%
U.S. Plans
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Long-term target allocations (as a percent)	100%
U.S. Plans | Equity
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Long-term target allocations (as a percent)	13%
U.S. Plans | Fixed income
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Long-term target allocations (as a percent)	84%
U.S. Plans | Real estate and other
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Long-term target allocations (as a percent)	3%
UK Plan
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Long-term target allocations (as a percent)	100%
UK Plan | Equity
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Long-term target allocations (as a percent)	18%
UK Plan | Fixed income
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Long-term target allocations (as a percent)	72%
UK Plan | Real estate and other
Defined Benefit Plan, Plan Assets, Allocations [Abstract]
Long-term target allocations (as a percent)	10%

Benefit Plans - Fair Values of

Benefit Plans - Fair Values of Pension Plan Assets by Asset Category (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	$ 443.5	$ 460
Total contribution to defined contribution plans	47	46.6	$ 40.6
Cash and cash equivalents
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	7.1	3.2
Total equity funds
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	65.1	90.7
U.S. small-cap
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	3.7	3.8
U.S. large-cap
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	19.5	22.4
International equity
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	41.9	64.5
Fixed income
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	326.3	322.7
Corporate bonds - international
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	42.7	52.2
UK index-linked gilts
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	78.7	41.6
U.S. fixed income - government securities
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	43.2	33.1
U.S. fixed income - short duration
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	1.3	1.8
U.S. fixed income - intermediate duration
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	30.9	50.3
U.S. fixed income - long corporate
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	122.3	135.7
Global fixed income
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	7.2	8
International real estate
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	15.4	16.6
Other
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	29.6	26.8
Investments Measured at NAV
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	259.1	286.3
Investments Measured at NAV | Cash and cash equivalents
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Investments Measured at NAV | Total equity funds
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	38.4	49.8
Investments Measured at NAV | U.S. small-cap
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	3.7	3.8
Investments Measured at NAV | U.S. large-cap
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	17.5	18.5
Investments Measured at NAV | International equity
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	17.2	27.5
Investments Measured at NAV | Fixed income
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	220.7	236.5
Investments Measured at NAV | Corporate bonds - international
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	15.8	7.6
Investments Measured at NAV | UK index-linked gilts
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Investments Measured at NAV | U.S. fixed income - government securities
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	43.2	33.1
Investments Measured at NAV | U.S. fixed income - short duration
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	1.3	1.8
Investments Measured at NAV | U.S. fixed income - intermediate duration
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	30.9	50.3
Investments Measured at NAV | U.S. fixed income - long corporate
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	122.3	135.7
Investments Measured at NAV | Global fixed income
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	7.2	8
Investments Measured at NAV | International real estate
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Investments Measured at NAV | Other
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1)
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	21.3	23.3
Quoted Prices in Active Markets for Identical Assets (Level 1) | Cash and cash equivalents
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	7.1	3.2
Quoted Prices in Active Markets for Identical Assets (Level 1) | Total equity funds
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	14.2	20.1
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. small-cap
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. large-cap
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | International equity
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	14.2	20.1
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fixed income
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Corporate bonds - international
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | UK index-linked gilts
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. fixed income - government securities
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. fixed income - short duration
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. fixed income - intermediate duration
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | U.S. fixed income - long corporate
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Global fixed income
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | International real estate
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Other
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets
Significant Observable Inputs (Level 2)
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	133.5	123.6
Significant Observable Inputs (Level 2) | Cash and cash equivalents
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Observable Inputs (Level 2) | Total equity funds
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	12.5	20.8
Significant Observable Inputs (Level 2) | U.S. small-cap
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Observable Inputs (Level 2) | U.S. large-cap
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	2	3.9
Significant Observable Inputs (Level 2) | International equity
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	10.5	16.9
Significant Observable Inputs (Level 2) | Fixed income
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	105.6	86.2
Significant Observable Inputs (Level 2) | Corporate bonds - international
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	26.9	44.6
Significant Observable Inputs (Level 2) | UK index-linked gilts
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	78.7	41.6
Significant Observable Inputs (Level 2) | U.S. fixed income - government securities
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Observable Inputs (Level 2) | U.S. fixed income - short duration
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Observable Inputs (Level 2) | U.S. fixed income - intermediate duration
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Observable Inputs (Level 2) | U.S. fixed income - long corporate
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Observable Inputs (Level 2) | Global fixed income
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Observable Inputs (Level 2) | International real estate
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	15.4	16.6
Significant Observable Inputs (Level 2) | Other
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Unobservable Inputs (Level 3)
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	29.6	26.8
Significant Unobservable Inputs (Level 3) | Cash and cash equivalents
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Unobservable Inputs (Level 3) | Total equity funds
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Unobservable Inputs (Level 3) | U.S. small-cap
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Unobservable Inputs (Level 3) | U.S. large-cap
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Unobservable Inputs (Level 3) | International equity
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Unobservable Inputs (Level 3) | Fixed income
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Unobservable Inputs (Level 3) | Corporate bonds - international
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Unobservable Inputs (Level 3) | UK index-linked gilts
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Unobservable Inputs (Level 3) | U.S. fixed income - government securities
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Unobservable Inputs (Level 3) | U.S. fixed income - short duration
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Unobservable Inputs (Level 3) | U.S. fixed income - intermediate duration
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Unobservable Inputs (Level 3) | U.S. fixed income - long corporate
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Unobservable Inputs (Level 3) | Global fixed income
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Unobservable Inputs (Level 3) | International real estate
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	0	0
Significant Unobservable Inputs (Level 3) | Other
Defined Benefit Plan, Funded (Unfunded) Status of Plan [Abstract]
Fair value of plan assets	$ 29.6	$ 26.8

Stockholders' Equity and Nonc_2

Stockholders' Equity and Noncontrolling Interests (Details) - USD ($)		12 Months Ended
	Aug. 06, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Aug. 24, 2021	Dec. 31, 2020
Noncontrolling Interest [Line Items]
Voting common stock authorized (in shares)		1,000,000,000	1,000,000,000
Voting common stock outstanding (in shares)		403,347,394	405,117,710
Voting common stock, par value (in USD per share)		$ 0.01	$ 0.01
Common Stock
Noncontrolling Interest [Line Items]
Voting common stock outstanding (in shares)		428,600,000	426,300,000	423,800,000		420,100,000
Common Stock | Ingersoll Rand
Noncontrolling Interest [Line Items]
Number of shares owned by non-controlling owners (in shares)	14,894,317
Stock repurchased (in USD per share)	$ 49.05
2021 Repurchase Program
Noncontrolling Interest [Line Items]
Amount authorized for repurchase					$ 750,000,000
Stock repurchased (in shares)		3,963,243	5,673,937	0
Weighted average exercise price (in shares)		$ 62.98	$ 45.36
Stock repurchased		$ 249,600,000	$ 257,300,000
IR India Limited
Noncontrolling Interest [Line Items]
Ownership interest by parent (as a percent)		75%
Ingersoll Rand | Common Stock | KKR
Noncontrolling Interest [Line Items]
Number of shares owned by non-controlling owners (in shares)	29,788,635

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	$ 9,257.2	$ 9,071.2	$ 9,189.5
Other comprehensive income (loss), net of tax	25.8	(217.3)	(56.6)
Divestiture of foreign subsidiaries			(1.5)
Balance at end of period	9,846.7	9,257.2	9,071.2
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(251.7)	(41.6)	14.2
Before tax income (loss)	7.4	(174.8)	(58.3)
Income tax effect	16.7	(35.3)	4
Other comprehensive income (loss), net of tax	24.1	(210.1)	(54.3)
Divestiture of foreign subsidiaries			(1.5)
Balance at end of period	(227.6)	(251.7)	(41.6)
Foreign Currency Translation Adjustments, Net
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(282.8)	(29.9)	74.6
Before tax income (loss)	23	(237.1)	(119.9)
Income tax effect	11.8	(15.8)	16.9
Other comprehensive income (loss), net of tax	34.8	(252.9)	(103)
Divestiture of foreign subsidiaries			(1.5)
Balance at end of period	(248)	(282.8)	(29.9)
Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	16	0	0
Before tax income (loss)	(5.1)	21.3	0
Income tax effect	1.3	(5.3)	0
Other comprehensive income (loss), net of tax	(3.8)	16	0
Divestiture of foreign subsidiaries			0
Balance at end of period	12.2	16	0
Pension and Other Postretirement Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	15.1	(11.7)	(60.4)
Before tax income (loss)	(10.5)	41	61.6
Income tax effect	3.6	(14.2)	(12.9)
Other comprehensive income (loss), net of tax	(6.9)	26.8	48.7
Divestiture of foreign subsidiaries			0
Balance at end of period	$ 8.2	$ 15.1	$ (11.7)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Foreign currency translation adjustments, net	$ 1.7	$ (7.2)	$ (2.3)

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Income (Loss) - Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	$ 9,257.2	$ 9,071.2	$ 9,189.5
Other comprehensive income (loss), net of tax	25.8	(217.3)	(56.6)
Divestiture of foreign subsidiaries			(1.5)
Balance at end of period	9,846.7	9,257.2	9,071.2
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(251.7)	(41.6)	14.2
Other comprehensive income (loss) before reclassifications	52.2	(203.5)	(57.8)
Amounts reclassified from accumulated other comprehensive income (loss)	(28.1)	(6.6)	3.5
Other comprehensive income (loss), net of tax	24.1	(210.1)	(54.3)
Divestiture of foreign subsidiaries			(1.5)
Balance at end of period	(227.6)	(251.7)	(41.6)
Foreign Currency Translation Adjustments, Net
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	(282.8)	(29.9)	74.6
Other comprehensive income (loss) before reclassifications	49	(244.3)	(103)
Amounts reclassified from accumulated other comprehensive income (loss)	(14.2)	(8.6)	0
Other comprehensive income (loss), net of tax	34.8	(252.9)	(103)
Divestiture of foreign subsidiaries			(1.5)
Balance at end of period	(248)	(282.8)	(29.9)
Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	16	0	0
Other comprehensive income (loss) before reclassifications	7.9	13.9	0
Amounts reclassified from accumulated other comprehensive income (loss)	(11.7)	2.1	0
Other comprehensive income (loss), net of tax	(3.8)	16	0
Divestiture of foreign subsidiaries			0
Balance at end of period	12.2	16	0
Pension and Other Postretirement Benefit Plans
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Balance at beginning of period	15.1	(11.7)	(60.4)
Other comprehensive income (loss) before reclassifications	(4.7)	26.9	45.2
Amounts reclassified from accumulated other comprehensive income (loss)	(2.2)	(0.1)	3.5
Other comprehensive income (loss), net of tax	(6.9)	26.8	48.7
Divestiture of foreign subsidiaries			0
Balance at end of period	$ 8.2	$ 15.1	$ (11.7)

Accumulated Other Comprehensi_6

Accumulated Other Comprehensive Income (Loss) - Reclassifications out of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	$ 156.7	$ 103.2	$ 87.7
Benefit for income taxes	(240)	(149.6)	21.8
Net Income Attributable to Ingersoll Rand Inc.	778.7	604.7	562.5
Reclassification out of Accumulated Other Comprehensive (Loss) Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net Income Attributable to Ingersoll Rand Inc.	(28.1)	(6.6)	3.5
Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive (Loss) Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	(15.6)	2.8	0
Benefit for income taxes	3.9	(0.7)	0
Net Income Attributable to Ingersoll Rand Inc.	(11.7)	2.1	0
Accumulated Gain (Loss), Net Investment Hedge, Including Noncontrolling Interest | Reclassification out of Accumulated Other Comprehensive (Loss) Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Interest expense	(19)	(11.5)	0
Benefit for income taxes	4.8	2.9	0
Net Income Attributable to Ingersoll Rand Inc.	(14.2)	(8.6)	0
Pension and Other Postretirement Benefit Plans | Reclassification out of Accumulated Other Comprehensive (Loss) Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Cost of sales and Selling and administrative expenses	(2.9)	(0.1)	4.7
Benefit for income taxes	0.7	0	(1.2)
Net Income Attributable to Ingersoll Rand Inc.	$ (2.2)	$ (0.1)	$ 3.5

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Abstract]
Revenues	$ 6,876.1	$ 5,916.3	$ 5,152.4
Revenue recognized at point in time
Disaggregation of Revenue [Abstract]
Revenues	6,383.4	5,518.4
Revenue recognized at point over time
Disaggregation of Revenue [Abstract]
Revenues	492.7	397.9
Original equipment
Disaggregation of Revenue [Abstract]
Revenues	4,416.8	3,832.8
Aftermarket
Disaggregation of Revenue [Abstract]
Revenues	2,459.3	2,083.5
Americas
Disaggregation of Revenue [Abstract]
Revenues	3,297.3	2,800.6
U.S. Plans
Disaggregation of Revenue [Abstract]
Revenues	2,895.2	2,450.4
Other Americas
Disaggregation of Revenue [Abstract]
Revenues	402.1	350.2
EMEIA
Disaggregation of Revenue [Abstract]
Revenues	2,267.5	1,877.3
Asia Pacific
Disaggregation of Revenue [Abstract]
Revenues	1,311.3	1,238.4
Industrial Technologies and Services
Disaggregation of Revenue [Abstract]
Revenues	5,632.8	4,705.1
Industrial Technologies and Services | Revenue recognized at point in time
Disaggregation of Revenue [Abstract]
Revenues	5,147.2	4,314.3
Industrial Technologies and Services | Revenue recognized at point over time
Disaggregation of Revenue [Abstract]
Revenues	485.6	390.8
Industrial Technologies and Services | Original equipment
Disaggregation of Revenue [Abstract]
Revenues	3,425.9	2,852.5
Industrial Technologies and Services | Aftermarket
Disaggregation of Revenue [Abstract]
Revenues	2,206.9	1,852.6
Industrial Technologies and Services | Americas
Disaggregation of Revenue [Abstract]
Revenues	2,701.1	2,220.8
Industrial Technologies and Services | U.S. Plans
Disaggregation of Revenue [Abstract]
Revenues	2,328	1,900.3
Industrial Technologies and Services | Other Americas
Disaggregation of Revenue [Abstract]
Revenues	373.1	320.5
Industrial Technologies and Services | EMEIA
Disaggregation of Revenue [Abstract]
Revenues	1,800.8	1,442.8
Industrial Technologies and Services | Asia Pacific
Disaggregation of Revenue [Abstract]
Revenues	1,130.9	1,041.5
Precision and Science Technologies
Disaggregation of Revenue [Abstract]
Revenues	1,243.3	1,211.2
Precision and Science Technologies | Revenue recognized at point in time
Disaggregation of Revenue [Abstract]
Revenues	1,236.2	1,204.1
Precision and Science Technologies | Revenue recognized at point over time
Disaggregation of Revenue [Abstract]
Revenues	7.1	7.1
Precision and Science Technologies | Original equipment
Disaggregation of Revenue [Abstract]
Revenues	990.9	980.3
Precision and Science Technologies | Aftermarket
Disaggregation of Revenue [Abstract]
Revenues	252.4	230.9
Precision and Science Technologies | Americas
Disaggregation of Revenue [Abstract]
Revenues	596.2	579.8
Precision and Science Technologies | U.S. Plans
Disaggregation of Revenue [Abstract]
Revenues	567.2	550.1
Precision and Science Technologies | Other Americas
Disaggregation of Revenue [Abstract]
Revenues	29	29.7
Precision and Science Technologies | EMEIA
Disaggregation of Revenue [Abstract]
Revenues	466.7	434.5
Precision and Science Technologies | Asia Pacific
Disaggregation of Revenue [Abstract]
Revenues	$ 180.4	$ 196.9

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Performance Obligations (Details) $ in Millions	Dec. 31, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Performance Obligation [Abstract]
Remaining performance obligation	$ 683.5
Remaining performance obligation, expected timing of satisfaction	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Performance Obligation [Abstract]
Remaining performance obligation	$ 596.4
Remaining performance obligation, expected timing of satisfaction

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Contract Balances (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Contract with Customer, Asset and Liability [Abstract]
Accounts receivable, net	$ 1,234.2	$ 1,122
Contract assets	85.6	70.6
Contract liabilities - current	331.2	305.6
Contract liabilities - noncurrent	$ 1	$ 1.1

Revenue from Contracts with C_6

Revenue from Contracts with Customers - Narrative (Details) $ in Millions	Dec. 31, 2022 USD ($)
Revenue from Contract with Customer [Abstract]
Contract liabilities	$ 306.7

Income Taxes - Income (Loss) Be

Income Taxes - Income (Loss) Before Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest [Abstract]
U.S.	$ 356	$ 267.5	$ 121.3
Non-U.S.	675.1	474.7	391.7
Income Before Income Taxes	$ 1,031.1	$ 742.2	$ 513

Income Taxes - Provision (Benef

Income Taxes - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current:
U.S. federal	$ 111.5	$ 66.5	$ (33.1)
U.S. state and local	23.7	21.5	5.8
Non-U.S.	181.7	147.4	109.1
Deferred:
U.S. federal	(44)	(37.3)	(19.5)
U.S. state and local	(6.9)	(5.5)	(0.9)
Non-U.S.	(26)	(43)	(83.2)
Provision (benefit) for income taxes	$ 240	$ 149.6	$ (21.8)

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate Reconciliation (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. federal corporate statutory rate	21%	21%	21%
State and local taxes, less federal tax benefit	1.30%	2%	1.10%
Net effects of foreign tax rate differential	1.80%	1.50%	1%
Withholding tax	1.50%	2.10%	3%
Repatriation cost	(2.00%)	(3.20%)	1.40%
Global Intangible Low-Tax Income (“GILTI”)	0.70%	0.30%	2.30%
ASC 740-30 (formerly APB 23)	1.70%	1.90%	2.90%
Valuation allowance changes	1.70%	0.50%	(5.40%)
Uncertain tax positions	0.90%	0.20%	(1.30%)
Equity compensation	(0.60%)	(0.60%)	(2.50%)
Nondeductible acquisition costs	0.40%	0.40%	0.40%
Foreign Derived Intangible Income (“FDII”) deduction	(1.40%)	(1.60%)	(3.20%)
Tax credits	(0.70%)	(1.10%)	(0.80%)
Income not subject to tax	(1.60%)	(3.50%)	(3.30%)
Utilization of capital loss	0%	0%	(9.10%)
Non-U.S. deferred change related to asset sales	0%	0%	(8.00%)
Return to provision adjustment	0.10%	0%	(1.30%)
Other, net	(1.50%)	0.30%	(2.40%)
Effective income tax rate	23.30%	20.20%	(4.20%)

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Assets:
Reserves and accruals	$ 80.1	$ 78.5
Allowance for credit losses	7.8	7.4
Inventory reserve	5.9	4.9
Pension and postretirement benefit plans	25.3	25.4
Tax loss carryforwards	81.3	107.2
Deferred taxes recorded in other comprehensive income	13.4	0.1
Foreign tax credit carryforwards	57.9	53.8
Other	32.2	31.8
Total deferred tax assets	303.9	309.1
Valuation allowance	(115.7)	(107.3)
Deferred Tax Liabilities:
LIFO inventory	(20.2)	(21.8)
Investment in partnership	(35.7)	(36.3)
Property, plant and equipment	(42.5)	(36)
Intangible assets	(635.4)	(663.6)
Unremitted foreign earnings	(35.5)	(32.4)
Total deferred tax liabilities	(769.3)	(790.1)
Net deferred income tax liability	$ (581.1)	$ (588.3)

Income Taxes - Net Operating Lo

Income Taxes - Net Operating Loss and Tax Credit Carryforwards (Details) $ in Millions	Dec. 31, 2023 USD ($)
Tax Credit Carryforward [Line Items]
Excess interest	$ 14.2
Other deferred tax assets	3.8
Total tax carryforwards	143.5
Valuation Allowance
Excess interest	(14)
Other deferred tax assets	(3.8)
Total tax carryforwards	(115.7)
Domestic Tax Authority
Tax Credit Carryforward [Line Items]
Net operating loss subject to expiration	0.1
Tax credit carryforward	57.9
Alternative minimum tax credit	0.5
Valuation Allowance
Net operating loss subject to expiration	(0.1)
Tax credit carryforward	(57.9)
Alternative minimum tax credit	(0.1)
Domestic Tax Authority | Capital Loss Carryforward
Tax Credit Carryforward [Line Items]
Capital loss	0.6
Valuation Allowance
Capital loss	(0.6)
State and Local Jurisdiction
Tax Credit Carryforward [Line Items]
Net operating loss subject to expiration	2.7
Valuation Allowance
Net operating loss subject to expiration	0
State and Local Jurisdiction | Capital Loss Carryforward
Tax Credit Carryforward [Line Items]
Tax credit carryforward	0.3
Valuation Allowance
Tax credit carryforward	(0.1)
Non U.S. Tax Authority
Tax Credit Carryforward [Line Items]
Net operating loss not subject to expiration	62.8
Valuation Allowance
Net operating loss not subject to expiration	(38.5)
Non U.S. Tax Authority | Capital Loss Carryforward
Tax Credit Carryforward [Line Items]
Tax credit carryforward	0.6
Valuation Allowance
Tax credit carryforward	$ (0.6)

Income Taxes - Valuation Allowa

Income Taxes - Valuation Allowance for Deferred Tax Assets (Details) - Valuation allowance for deferred tax assets - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Beginning balance	$ 107.3	$ 106.4	$ 140.6
Charged to tax expense	6.4	3.1	(27.6)
Charged to other accounts	2	(2.2)	(6.6)
Ending balance	$ 115.7	$ 107.3	$ 106.4

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) Jurisdiction	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Income Tax Disclosure [Abstract]
Unrecognized tax benefits	$ 19.1	$ 10.8	$ 21.1	$ 27.8
Unrecognized tax benefits, that would effect effective tax rate if recognized	19.1
Interest and penalties accrued	$ 2	$ 1.1
Number of jurisdictions outside U.S. | Jurisdiction	49
Income tax reconciliation withholding tax	$ 35.5

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits and Other Disclosures (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 10.8	$ 21.1	$ 27.8
Gross increases for tax positions of prior years	0.4	0.4	0.8
Gross decreases for tax positions of prior years	0	(3.7)	0
Gross increases for tax positions of current year	7.9	4.1	5.3
Settlements	0	(9.9)	0
Lapse of statute of limitations	(0.2)	(0.1)	(11.8)
Changes due to currency fluctuations	0.2
Changes due to currency fluctuations		(1.1)	(1)
Ending balance	$ 19.1	$ 10.8	$ 21.1

Leases - Components of Lease Ex

Leases - Components of Lease Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Lease, Cost [Abstract]
Operating lease cost	$ 53.7	$ 45.8
Finance lease cost
Amortization of right-of-use assets	1.5	1.5
Interest on lease liabilities	0.9	1
Total finance lease cost	2.4	2.5
Short-term lease cost	$ 1.9	$ 4.3

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flows Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash Paid for Amounts Included in the Measurement of Lease Liabilities
Operating cash flows from operating leases	$ 53.7	$ 47
Operating cash flows from finance leases	1	1
Financing cash flows from finance leases	1.2	1.2
Leased Assets Obtained in Exchange for New Operating Lease Liabilities	$ 62.5	$ 63.2

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Operating leases
Operating lease, right-of-use asset, statement of financial position	Other assets	Other assets
Other assets	$ 164.4	$ 126.9
Operating Lease Liabilities, Gross Difference, Amount [Abstract]
Operating lease, liability, current, statement of financial position	Accrued liabilities	Accrued liabilities
Accrued liabilities	$ 41.6	$ 39.6
Operating lease, liability, noncurrent, statement of financial position	Other liabilities	Other liabilities
Other liabilities	$ 116.9	$ 80.4
Total operating lease liabilities	$ 158.5	$ 120
Finance Leases
Finance lease, right-of-use asset, statement of financial position	Property, plant and equipment, net of accumulated depreciation of $500.8 and $417.4, respectively	Property, plant and equipment, net of accumulated depreciation of $500.8 and $417.4, respectively
Property, plant and equipment	$ 12.3	$ 13.7
Finance Lease Liabilities, Gross Difference, Amount [Abstract]
Finance lease, liability, current, statement of financial position	Short-term borrowings and current maturities of long-term debt	Short-term borrowings and current maturities of long-term debt
Short-term borrowings and current maturities of long-term debt	$ 1.3	$ 1.2
Finance lease, liability, noncurrent, statement of financial position	Long-term debt, less current maturities	Long-term debt, less current maturities
Long-term debt, less current maturities	$ 13.6	$ 14.9
Total finance lease liabilities	$ 14.9	$ 16.1
Weighted Average Remaining Lease Term (in years)
Operating leases	5 years 1 month 6 days	4 years 6 months
Finance leases	10 years 3 months 18 days	11 years 1 month 6 days
Weighted Average Discount Rate
Operating leases (as a percent)	3.60%	2.90%
Finance leases (as a percent)	6.40%	6.40%

Leases - Maturities of Lease Li

Leases - Maturities of Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Operating Leases
2024	$ 47.2
2025	39.5
2026	32
2027	20.9
2028	13.7
Thereafter	28.4
Total lease payments	181.7
Less imputed interest	(23.2)
Total operating lease liabilities	158.5	$ 120
Finance Leases
2024	2.2
2025	2
2026	2
2027	2
2028	2.1
Thereafter	10.6
Total lease payments	20.9
Less imputed interest	(6)
Total finance lease liabilities	$ 14.9	$ 16.1

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans - Narrative (Details) $ / shares in Units, employee in Thousands	3 Months Ended		12 Months Ended
	Sep. 30, 2022 $ / shares shares	Sep. 30, 2020 USD ($) employee	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 USD ($) $ / shares	May 31, 2017 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 51,900,000	$ 78,900,000	$ 98,100,000
Accrued liabilities			$ 995,500,000	$ 858,800,000
Weighted average grant date fair value of stock options granted (in USD per share) | $ / shares			$ 25.28	$ 21.24	$ 18.06
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]
Stock-based compensation expense			$ 51,900,000	$ 78,900,000	$ 87,200,000
Share-based payment arrangement, total equity grant to employees		$ 150,000,000
Share-based payment arrangement, total equity grant to employees, number of employees | employee		16
Discontinued Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			$ 0	0	10,900,000
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	5 years		3 years
Volume-weighted average closing	60 days
Closing price per share (in USD per share) | $ / shares	$ 81.85
Stock Appreciation Rights (SARs) | Continuing Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense					1,400,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock for stock-based compensation plans (in shares) | shares	400,000		400,000
Total intrinsic value of stock options exercised			$ 75,000,000	27,700,000	53,500,000
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)		2 years
2013 Stock Incentive Plan and 2017 Omnibus Incentive Plan | Former Employee | Discontinued Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense					3,800,000
2013 Stock Incentive Plan and 2017 Omnibus Incentive Plan | Equity Awards | Continuing Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense			51,100,000	80,000,000
2013 Stock Incentive Plan and 2017 Omnibus Incentive Plan | Equity Awards | Discontinued Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense					7,100,000
2013 Stock Incentive Plan and 2017 Omnibus Incentive Plan | Equity Awards - Founders Grant | Continuing Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				39,500,000	57,400,000
2013 Stock Incentive Plan and 2017 Omnibus Incentive Plan | Stock Appreciation Rights (SARs) | Continuing Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
(Increase) decrease in liabilities			$ (800,000)	1,100,000
Omnibus Incentive Plan 2017 | Continuing Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense					$ 85,800,000
Omnibus Incentive Plan 2017 | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award expiration period (in years)			10 years
2013 Stock Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Capital stock reserved for future issuance (in shares) | shares			20,900,000
2013 Stock Incentive Plan | Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares outstanding (in shares) | shares			0
Accrued liabilities				$ 3,300,000
2013 Stock Incentive Plan | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense			$ 104,800,000
2013 Stock Incentive Plan | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense			$ 104,800,000
2013 Stock Incentive Plan | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rate (as a percent)			50%
2013 Stock Incentive Plan | Tranche One | Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rate (as a percent)			50%
2013 Stock Incentive Plan | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rate (as a percent)			50%
2013 Stock Incentive Plan | Tranche Two | Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rate (as a percent)			50%
2013 Stock Incentive Plan | Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rate (as a percent)			50%
2013 Stock Incentive Plan | Tranche Three | Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting rate (as a percent)			50%
Share-Based Payment Arrangement, Option, Five Year Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)			5 years
Share-Based Payment Arrangement, Option, Four Year Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)			4 years
Share-Based Payment Arrangement, Option, Three Year Vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)			3 years
Minimum | Omnibus Incentive Plan 2017 | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)			4 years
Maximum | Omnibus Incentive Plan 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Capital stock reserved for future issuance (in shares) | shares						19,600,000
Maximum | Omnibus Incentive Plan 2017 | Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)			5 years

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans - Stock-based Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 51.9	$ 78.9	$ 98.1
Continuing Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	51.9	78.9	87.2
Discontinued Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 0	$ 0	$ 10.9

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans - Stock Option Awards (Details) - Stock Options and SARs $ / shares in Units, shares in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares shares
Shares
Balance at beginning of period (in shares) | shares	6,383
Granted (in shares) | shares	763
Exercised or settled (in shares) | shares	(1,662)
Forfeited (in shares) | shares	(199)
Expired (in shares) | shares	(3)
Balance at end of period (in shares) | shares	5,282
Vested (in shares) | shares	3,644
Weighted-Average Exercise Price (per share)
Balance at beginning of period (in USD per share) | $ / shares	$ 25.22
Granted (in USD per share) | $ / shares	58.11
Exercised or settled (in USD per share) | $ / shares	18.61
Forfeited (in USD per share) | $ / shares	50.31
Expired (in USD per share) | $ / shares	41.52
Balance at end of period (in USD per share) | $ / shares	31.09
Vested (in USD per share) | $ / shares	$ 22.45
Weighted average remaining contractual term of options outstanding (in years)	5 years 3 months 18 days
Weighted average remaining contractual term of options vested (in years)	3 years 10 months 24 days
Aggregate intrinsic value of in-the-money options outstanding | $	$ 244.3
Aggregate intrinsic value of in-the-money options vested | $	$ 200

Stock-Based Compensation Plan_5

Stock-Based Compensation Plans - Assumptions Used to Estimate Fair Value (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stock Options and SARs
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	6 years 3 months 18 days
Stock Options and SARs | 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
Risk-free interest rate	3.80%	1.90%	0.90%
Assumed volatility	35.60%	37.10%	38.60%
Expected dividend rate		0.10%	0%
Stock Options and SARs | 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
Risk-free interest rate	4.60%	3.90%	1.30%
Assumed volatility	36.60%	38.30%	39.40%
Expected dividend rate	0.10%	0.20%	0.10%
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life of options (in years)	2 years 10 months 24 days		2 years 10 months 24 days
Risk-free interest rate	4.40%		0.20%
Risk-free interest rate, minimum		1.70%
Risk-free interest rate, maximum		3.40%
Assumed volatility	31.80%		36.90%
Assumed volatility, minimum		35%
Assumed volatility, maximum		36.40%
Expected dividend rate	0.10%	0.20%	0%
Performance Share Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life of options (in years)		2 years 10 months 24 days
Performance Share Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected life of options (in years)		5 years

Stock-Based Compensation Plan_6

Stock-Based Compensation Plans - Restricted Stock Unit Awards (Details) - Restricted Stock Units shares in Thousands	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Shares
Balance at beginning of period (in shares) | shares	1,005
Granted (in shares) | shares	451
Vested (in shares) | shares	(378)
Forfeited (in shares) | shares	(121)
Balance at end of period (in shares) | shares	957
Weighted-Average Grant-Date Fair Value
Balance at beginning of period (in USD per share) | $ / shares	$ 43.50
Granted (in USD per share) | $ / shares	59.22
Vested (in USD per share) | $ / shares	37.51
Forfeited (in USD per share) | $ / shares	52.03
Balance at end of period (in USD per share) | $ / shares	$ 52.18

Stock-Based Compensation Plan_7

Stock-Based Compensation Plans - Performance Share Unit Awards (Details) - Performance Share Units shares in Thousands	12 Months Ended
	Dec. 31, 2023 $ / shares shares
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	(86)
Balance at end of period (in shares) | shares	1,380
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	64.42
Balance at end of period (in USD per share) | $ / shares	$ 49.53

Hedging Activities, Derivativ_3

Hedging Activities, Derivative Instruments and Credit Risk - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) contract	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2023 EUR (€) contract	Dec. 30, 2022 USD ($)	Feb. 29, 2020 EUR (€)
Derivatives, Fair Value [Line Items]
Off-balance sheet derivative instruments	$ 0	$ 0
Unrecognized gain (loss) on cash flow hedges	$ (3,800,000)	16,000,000	$ 0
Euro Term Loan due in 2020
Derivatives, Fair Value [Line Items]
Amount of hedged item | €						€ 601,200,000
Foreign currency forwards
Derivatives, Fair Value [Line Items]
Number of instruments held | contract	0			0
Foreign currency forwards | Maximum
Derivatives, Fair Value [Line Items]
Term of derivative contract (in years)	1 year
Interest rate swap contracts
Derivatives, Fair Value [Line Items]
Number of instruments held | contract	2			2
Gains, net of income tax		36,400,000	$ 35,000,000
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
Fixed interest rate (as a percent)	3.20%			3.20%
Unrecognized gain (loss) on cash flow hedges	$ 8,200,000
Interest rate cap contracts | Cash flow | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative		1,000,000,000
Unrecognized gain (loss) on cash flow hedges	6,600,000
Amount expected to be reclassified into earnings	$ 5,200,000
Interest rate cap contracts | Cash flow | Derivatives Designated as Hedging Instruments | SOFR
Derivatives, Fair Value [Line Items]
Derivative, cap interest rate	4%			4%
Cross-currency interest rate swap contracts
Derivatives, Fair Value [Line Items]
Number of instruments held | contract	2			2
Cross-currency interest rate swap contracts | SOFR
Derivatives, Fair Value [Line Items]
Number of instruments held | contract	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
Fixed interest rate (as a percent)	1.60%			1.60%	3.20%
Cross-currency interest rate swap contracts | Net investment | Derivatives Designated as Hedging Instruments | SOFR
Derivatives, Fair Value [Line Items]
Notional amount of derivative	$ 525,700,000			€ 500,000,000

Hedging Activities, Derivativ_4

Hedging Activities, Derivative Instruments and Credit Risk - Balance Sheets (Details)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 EUR (€)	Dec. 31, 2022 USD ($)	Dec. 30, 2022 USD ($)
Interest rate swap contracts | Derivatives Designated as Hedging Instruments | Cash flow
Derivatives, Fair Value [Line Items]
Notional amount of derivative	$ 528,500,000		$ 528,500,000
Interest rate swap contracts | Other Current Assets | Derivatives Designated as Hedging Instruments | Cash flow
Derivatives, Fair Value [Line Items]
Assets fair value	8,200,000		8,800,000
Interest rate swap contracts | Other Assets | Derivatives Designated as Hedging Instruments | Cash flow
Derivatives, Fair Value [Line Items]
Assets fair value	1,200,000		5,300,000
Interest rate swap contracts | Accrued Liabilities | Derivatives Designated as Hedging Instruments | Cash flow
Derivatives, Fair Value [Line Items]
Liabilities fair value	0		0
Interest rate swap contracts | Other Liabilities | Derivatives Designated as Hedging Instruments | Cash flow
Derivatives, Fair Value [Line Items]
Liabilities fair value	0		0
Interest rate cap contracts | Derivatives Designated as Hedging Instruments | Cash flow
Derivatives, Fair Value [Line Items]
Notional amount of derivative			1,000,000,000
Interest rate cap contracts | Other Current Assets | Derivatives Designated as Hedging Instruments | Cash flow
Derivatives, Fair Value [Line Items]
Assets fair value			8,300,000
Interest rate cap contracts | Other Assets | Derivatives Designated as Hedging Instruments | Cash flow
Derivatives, Fair Value [Line Items]
Assets fair value			9,800,000
Interest rate cap contracts | Accrued Liabilities | Derivatives Designated as Hedging Instruments | Cash flow
Derivatives, Fair Value [Line Items]
Liabilities fair value			0
Interest rate cap contracts | Other Liabilities | Derivatives Designated as Hedging Instruments | Cash flow
Derivatives, Fair Value [Line Items]
Liabilities fair value			0
Cross-currency interest rate swap contracts | Derivatives Designated as Hedging Instruments | Net investment
Derivatives, Fair Value [Line Items]
Notional amount of derivative	1,054,200,000	€ 500,000,000	1,054,200,000	$ 528,500,000
Cross-currency interest rate swap contracts | Other Current Assets | Derivatives Designated as Hedging Instruments | Net investment
Derivatives, Fair Value [Line Items]
Assets fair value	15,700,000		17,700,000
Cross-currency interest rate swap contracts | Other Assets | Derivatives Designated as Hedging Instruments | Net investment
Derivatives, Fair Value [Line Items]
Assets fair value	0		0
Cross-currency interest rate swap contracts | Accrued Liabilities | Derivatives Designated as Hedging Instruments | Net investment
Derivatives, Fair Value [Line Items]
Liabilities fair value	0		0
Cross-currency interest rate swap contracts | Other Liabilities | Derivatives Designated as Hedging Instruments | Net investment
Derivatives, Fair Value [Line Items]
Liabilities fair value	$ 63,100,000		28,700,000
Foreign currency forwards | Derivatives Not Designated as Hedging Instruments | Fair value
Derivatives, Fair Value [Line Items]
Notional amount of derivative			7,300,000
Foreign currency forwards | Other Current Assets | Derivatives Not Designated as Hedging Instruments | Fair value
Derivatives, Fair Value [Line Items]
Assets fair value			0
Foreign currency forwards | Other Assets | Derivatives Not Designated as Hedging Instruments | Fair value
Derivatives, Fair Value [Line Items]
Assets fair value			0
Foreign currency forwards | Accrued Liabilities | Derivatives Not Designated as Hedging Instruments | Fair value
Derivatives, Fair Value [Line Items]
Liabilities fair value			0
Foreign currency forwards | Other Liabilities | Derivatives Not Designated as Hedging Instruments | Fair value
Derivatives, Fair Value [Line Items]
Liabilities fair value			0
Foreign currency forwards | Derivatives Not Designated as Hedging Instruments | Fair value
Derivatives, Fair Value [Line Items]
Notional amount of derivative			15,800,000
Foreign currency forwards | Other Current Assets | Derivatives Not Designated as Hedging Instruments | Fair value
Derivatives, Fair Value [Line Items]
Assets fair value			0
Foreign currency forwards | Other Assets | Derivatives Not Designated as Hedging Instruments | Fair value
Derivatives, Fair Value [Line Items]
Assets fair value			0
Foreign currency forwards | Accrued Liabilities | Derivatives Not Designated as Hedging Instruments | Fair value
Derivatives, Fair Value [Line Items]
Liabilities fair value			0
Foreign currency forwards | Other Liabilities | Derivatives Not Designated as Hedging Instruments | Fair value
Derivatives, Fair Value [Line Items]
Liabilities fair value			$ 0

Hedging Activities, Derivativ_5

Hedging Activities, Derivative Instruments and Credit Risk - Cash Flow Hedges included in Accumulated Other Comprehensive Income (Loss) (Details) - Interest rate swap contracts - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Gains and Losses on Derivatives Designated as Cash Flow Hedges [Abstract]
Gain recognized in OCI on derivatives	$ 10.5	$ 18.3	$ 0
Gain (loss) reclassified from AOCI into income (effective portion)	$ 15.6	$ (2.8)	$ 0

Hedging Activities, Derivativ_6

Hedging Activities, Derivative Instruments and Credit Risk - Net Investment Hedges included in Accumulated Other Comprehensive Income (Loss) (Details) - Cross-currency interest rate swap contracts - Net investment - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Gain (loss) recognized in OCI on derivatives	$ (17.5)	$ 0.6	$ 0
Gain (loss) reclassified from AOCI into income (effective portion)	$ 19	$ 11.5	$ 0

Hedging Activities, Derivativ_7

Hedging Activities, Derivative Instruments and Credit Risk - Derivative Instruments not Designated as Accounting Hedges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net [Abstract]
Total foreign currency transaction gains (losses), net	$ (5.1)	$ 5.9	$ 12
Foreign currency forward contracts gains (losses)
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net [Abstract]
Total foreign currency transaction gains (losses), net	$ 0.3	$ 3.4	$ (3.2)

Fair Value Measurements - Fair

Fair Value Measurements - Fair Value Measurements (Details) - Recurring - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Financial Assets
Trading securities held in deferred compensation plan	$ 16.8	$ 12.3
Interest rate swaps	9.4	14.1
Interest rate caps		18.1
Cross-currency interest rate swaps	15.7	17.7
Foreign currency forwards		0
Total	41.9	62.2
Financial Liabilities
Deferred compensation plan	24.7	19.6
Cross-currency interest rate swaps	63.1	28.7
Contingent consideration	42.2	43.9
Foreign currency forwards		0
Total	130	92.2
Level 1
Financial Assets
Trading securities held in deferred compensation plan	16.8	12.3
Interest rate swaps	0	0
Interest rate caps		0
Cross-currency interest rate swaps	0	0
Foreign currency forwards		0
Total	16.8	12.3
Financial Liabilities
Deferred compensation plan	24.7	19.6
Cross-currency interest rate swaps	0	0
Contingent consideration	0	0
Foreign currency forwards		0
Total	24.7	19.6
Level 2
Financial Assets
Trading securities held in deferred compensation plan	0	0
Interest rate swaps	9.4	14.1
Interest rate caps		18.1
Cross-currency interest rate swaps	15.7	17.7
Foreign currency forwards		0
Total	25.1	49.9
Financial Liabilities
Deferred compensation plan	0	0
Cross-currency interest rate swaps	63.1	28.7
Contingent consideration	0	0
Foreign currency forwards		0
Total	63.1	28.7
Level 3
Financial Assets
Trading securities held in deferred compensation plan	0	0
Interest rate swaps	0	0
Interest rate caps		0
Cross-currency interest rate swaps	0	0
Foreign currency forwards		0
Total	0	0
Financial Liabilities
Deferred compensation plan	0	0
Cross-currency interest rate swaps	0	0
Contingent consideration	42.2	43.9
Foreign currency forwards		0
Total	$ 42.2	$ 43.9

Fair Value Measurements - Conti

Fair Value Measurements - Contingent Consideration (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration, current	$ 0.6
Contingent consideration, noncurrent	41.6
Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of period	43.9	$ 8.5
Acquisitions	13.5	36.1
Changes in fair value	7.3	0.8
Payments	(23.2)	(1.8)
Foreign currency translation and other	0.7	0.3
Balance at end of period	$ 42.2	$ 43.9

Contingencies (Details)

Contingencies (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) defendant	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Loss Contingencies [Line Items]
Undiscounted accrual liabilities for environmental loss contingencies	$ 16,700,000	$ 13,500,000
Asbestos and Silica Related Litigation
Loss Contingencies [Line Items]
Estimated litigation liability	126,900,000	137,900,000
Insurance recovery receivable	157,700,000	154,200,000
Asbestos related insurance recoveries	$ 0	$ 0	$ 0
Asbestos and Silica Related Litigation | Minimum
Loss Contingencies [Line Items]
Number of defendants | defendant	25

Other Operating Expense, Net (D

Other Operating Expense, Net (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Operating Expense, Net
Foreign currency transaction losses (gains), net	$ 5.1	$ (5.9)	$ (12)
Restructuring charges, net	19.9	29.3	13.4
Acquisition and other transaction related expenses	52.2	38.7	55.3
Other, net	0.5	2.8	5.2
Total other operating expense, net	$ 77.7	$ 64.9	$ 61.9

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Reporting - Segment Res

Segment Reporting - Segment Results (Details) - USD ($) $ in Millions		12 Months Ended
	Sep. 30, 2021	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting [Abstract]
Revenues		$ 6,876.1	$ 5,916.3	$ 5,152.4
Adjusted EBITDA		1,960.1	1,561.5	1,325.1
Less items to reconcile Segment Adjusted EBITDA to Income from Continuing Operations Before Income Taxes:
Interest expense		156.7	103.2	87.7
Restructuring and related business transformation costs		22.9	32.3	18.8
Acquisition related expenses and non-cash charges		52.2	38.7	55.3
Stock-based compensation		51.9	78.9	87.2
Foreign currency transaction losses (gains), net		5.1	(5.9)	(12)
Loss on extinguishment of debt	$ 9	13.5	1.1	9
Adjustments to LIFO inventories		12	36.1	33.2
Income Before Income Taxes		1,031.1	742.2	513
Depreciation of rental equipment		3.7	3.4	4.1
Restructuring Costs [Abstract]
Restructuring charges		19.9	29.3	13.4
Facility reorganization, relocation and other costs		3	3	3.1
Other, net		0	0	2.3
Total restructuring and related business transformation costs		22.9	32.3	18.8
Stock-based compensation expense recognized in continuing operations			78.9	87.2
Increase (decrease) in stock-based compensation expense due to costs associated with employer taxes			6.7	8.7
Total depreciation and amortization expense		459.1	432.8	422.1
Total capital expenditures		105.4	94.6	64.1
Total identifiable assets		15,563.5	14,765.9
Industrial Technologies and Services
Segment Reporting [Abstract]
Revenues		5,632.8	4,705.1
Precision and Science Technologies
Segment Reporting [Abstract]
Revenues		1,243.3	1,211.2
Operating segments | Industrial Technologies and Services
Segment Reporting [Abstract]
Revenues		5,632.8	4,705.1	4,161
Adjusted EBITDA		1,587.3	1,214	1,033.7
Restructuring Costs [Abstract]
Total depreciation and amortization expense		313.8	294.7	296.6
Total capital expenditures		83.9	66.3	53.1
Total identifiable assets		10,138.8	9,204.7
Operating segments | Precision and Science Technologies
Segment Reporting [Abstract]
Revenues		1,243.3	1,211.2	991.4
Adjusted EBITDA		372.8	347.5	291.4
Restructuring Costs [Abstract]
Total depreciation and amortization expense		135.4	133.6	108.3
Total capital expenditures		18.5	17.7	10.7
Total identifiable assets		3,464.7	3,540.4
Corporate and other
Less items to reconcile Segment Adjusted EBITDA to Income from Continuing Operations Before Income Taxes:
Corporate expenses not allocated to segments		173.3	126.7	133.2
Restructuring Costs [Abstract]
Total depreciation and amortization expense		9.9	4.5	17.2
Total capital expenditures		3	10.6	0.3
Total identifiable assets		1,960	2,020.8
Assets of discontinued operations
Less items to reconcile Segment Adjusted EBITDA to Income from Continuing Operations Before Income Taxes:
Interest expense		156.7	103.2	87.7
Depreciation and amortization expense		455.4	429.4	418
Restructuring and related business transformation costs		22.9	32.3	18.8
Acquisition related expenses and non-cash charges		63.9	40.7	65.2
Stock-based compensation		51.9	85.6	95.9
Foreign currency transaction losses (gains), net		5.1	(5.9)	(12)
Loss on extinguishment of debt		13.5	1.1	9
Adjustments to LIFO inventories		12	36.1	33.2
Cybersecurity incident costs		2.3	0	0
Gain on settlement of post-acquisition contingencies		0	(6.2)	(30.1)
Other adjustments		(28)	(23.7)	(6.8)
Restructuring Costs [Abstract]
Total restructuring and related business transformation costs		$ 22.9	$ 32.3	$ 18.8

Segment Reporting - Property, P

Segment Reporting - Property, Plant and Equipment by Geographic Region (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 711.4	$ 624.4
Reportable geographical components | Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	298.8	244.2
Reportable geographical components | United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	286	225.7
Reportable geographical components | Other Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	12.8	18.5
Reportable geographical components | EMEIA
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	245.7	216.6
Reportable geographical components | Asia Pacific
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 166.9	$ 163.6

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Average shares outstanding:
Weighted-average shares outstanding - Basic (in shares)	404.8	405.3	414.8
Dilutive effect of outstanding share-based compensation awards (in shares)	4.2	4.9	6.4
Weighted-average shares outstanding - Diluted (in shares)	409	410.2	421.2

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings (loss) per share (in shares)	1.3	1.8	0.7

Subsequent Events (Details)

Subsequent Events (Details) € in Millions	Feb. 01, 2024 EUR (€)
Friulair S.r.l. | Subsequent Event
Subsequent Event [Line Items]
Cash consideration	€ 135