Ingersoll Rand (IR) 10-Q 2 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 26, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		403,484,175
Entity Central Index Key	0001699150
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenues	$ 1,805.3	$ 1,686.5	$ 3,475.4	$ 3,315.8
Cost of sales	1,012	989	1,935.8	1,954.1
Gross Profit	793.3	697.5	1,539.6	1,361.7
Selling and administrative expenses	342.1	315.6	678.4	626.7
Amortization of intangible assets	91.2	89.7	182.8	182.1
Other operating expense, net	88.2	19.8	113.4	40.2
Operating Income	271.8	272.4	565	512.7
Interest expense	50.8	40.8	87.6	79.7
Loss on extinguishment of debt	3	0.9	3	0.9
Other income, net	(18.1)	(8.2)	(31.3)	(17.8)
Income Before Income Taxes	236.1	238.9	505.7	449.9
Provision for income taxes	46.1	60.5	100.5	108.6
Income (loss) on equity method investments	(3.5)	2.4	(14.2)	2.7
Net Income	186.5	180.8	391	344
Less: Net income attributable to noncontrolling interests	1.5	1.3	3.8	3.4
Net Income Attributable to Ingersoll Rand Inc.	$ 185	$ 179.5	$ 387.2	$ 340.6
Basic earnings per share (in usd per share)	$ 0.46	$ 0.44	$ 0.96	$ 0.84
Diluted earnings per share (in usd per share)	$ 0.45	$ 0.44	$ 0.95	$ 0.83

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Comprehensive Income Attributable to Ingersoll Rand Inc.
Net income attributable to Ingersoll Rand Inc.	$ 185	$ 179.5	$ 387.2	$ 340.6
Other comprehensive loss, net of tax:
Foreign currency translation adjustments, net	(34)	(46.6)	(107.5)	(15.8)
Unrecognized gain (loss) on cash flow hedges	(2.1)	10.9	(2.2)	5.6
Pension and other postretirement prior service cost and gain (loss), net	(1.4)	(1.1)	(2.8)	(1.3)
Total other comprehensive loss, net of tax	(37.5)	(36.8)	(112.5)	(11.5)
Comprehensive income attributable to Ingersoll Rand Inc.	147.5	142.7	274.7	329.1
Comprehensive Income Attributable to Noncontrolling Interests
Net income attributable to noncontrolling interests	1.5	1.3	3.8	3.4
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net	0.1	(0.1)	(0.7)	0.8
Total other comprehensive income (loss), net of tax	0.1	(0.1)	(0.7)	0.8
Comprehensive income attributable to noncontrolling interests	1.6	1.2	3.1	4.2
Total Comprehensive Income	$ 149.1	$ 143.9	$ 277.8	$ 333.3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 1,062.5	$ 1,595.5
Accounts receivable, net of allowance for credit losses of $56.9 and $53.8, respectively	1,301.4	1,234.2
Inventories	1,160	1,001.1
Other current assets	319.3	219.6
Total current assets	3,843.2	4,050.4
Property, plant and equipment, net of accumulated depreciation of $535.0 and $500.8, respectively	830	711.4
Goodwill	8,217.1	6,609.7
Other intangible assets, net	4,478.2	3,611.1
Deferred tax assets	29.6	31.5
Other assets	440.4	549.4
Total assets	17,838.5	15,563.5
Current liabilities:
Short-term borrowings and current maturities of long-term debt	4.5	30.6
Accounts payable	748.5	801.2
Accrued liabilities	1,011.6	995.5
Total current liabilities	1,764.6	1,827.3
Long-term debt, less current maturities	4,750.9	2,693
Pensions and other postretirement benefits	150.9	150
Deferred income tax liabilities	838.2	612.6
Other liabilities	309.7	433.9
Total liabilities	7,814.3	5,716.8
Commitments and contingencies (Note 18)	0	0
Stockholders’ equity
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 430,371,281 and 428,589,061 shares issued as of June 30, 2024 and December 31, 2023, respectively	4.3	4.3
Capital in excess of par value	9,595.3	9,550.8
Retained earnings	2,068.3	1,697.2
Accumulated other comprehensive loss	(340.1)	(227.6)
Treasury stock at cost; 26,595,683 and 25,241,667 shares as of June 30, 2024 and December 31, 2023, respectively	(1,369.6)	(1,240.9)
Total Ingersoll Rand Inc. stockholders’ equity	9,958.2	9,783.8
Noncontrolling interests	66	62.9
Total stockholders’ equity	10,024.2	9,846.7
Total liabilities and stockholders’ equity	$ 17,838.5	$ 15,563.5

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 56.9	$ 53.8
Accumulated depreciation on property, plant and equipment	$ 535	$ 500.8
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)	430,371,281	428,589,061
Treasury stock (in shares)	26,595,683	25,241,667

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Millions, $ in Millions	Total	Total Ingersoll Rand Inc. Stockholders’ Equity	Common Stock	Capital in Excess of Par Value	Retained Earnings	Accumulated Other Comprehensive Loss	Treasury Stock	Noncontrolling Interests
Balance at beginning of period (in shares) at Dec. 31, 2022			426.3
Balance at beginning of period at Dec. 31, 2022	$ 9,257.2	$ 9,195.8	$ 4.3	$ 9,476.8	$ 950.9	$ (251.7)	$ (984.5)	$ 61.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	344	340.6			340.6			3.4
Dividends declared	(16.2)	(16.2)			(16.2)
Issuance of common stock for stock-based compensation plans (in shares)			1.5
Issuance of common stock for stock-based compensation plans	13.7	13.7		13.7
Purchases of treasury stock	(133.2)	(133.2)					(133.2)
Issuance of treasury stock for stock-based compensation plans	2.2	2.2		(3.6)			5.8
Stock-based compensation	23.4	23.4		23.4
Other comprehensive income (loss), net of tax	(10.7)	(11.5)				(11.5)		0.8
Balance at end of period (in shares) at Jun. 30, 2023			427.8
Balance at end of period at Jun. 30, 2023	9,480.4	9,414.8	$ 4.3	9,510.3	1,275.3	(263.2)	(1,111.9)	65.6
Balance at beginning of period (in shares) at Mar. 31, 2023			427.5
Balance at beginning of period at Mar. 31, 2023	9,381.7	9,317.3	$ 4.3	9,493.6	1,103.9	(226.4)	(1,058.1)	64.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	180.8	179.5			179.5			1.3
Dividends declared	(8.1)	(8.1)			(8.1)
Issuance of common stock for stock-based compensation plans (in shares)			0.3
Issuance of common stock for stock-based compensation plans	5	5		5
Purchases of treasury stock	(56.2)	(56.2)					(56.2)
Issuance of treasury stock for stock-based compensation plans	2.1	2.1		(0.3)			2.4
Stock-based compensation	12	12		12
Other comprehensive income (loss), net of tax	(36.9)	(36.8)				(36.8)		(0.1)
Balance at end of period (in shares) at Jun. 30, 2023			427.8
Balance at end of period at Jun. 30, 2023	9,480.4	9,414.8	$ 4.3	9,510.3	1,275.3	(263.2)	(1,111.9)	65.6
Balance at beginning of period (in shares) at Dec. 31, 2023			428.6
Balance at beginning 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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	391	387.2			387.2			3.8
Dividends declared	(16.1)	(16.1)			(16.1)
Issuance of common stock for stock-based compensation plans (in shares)			1.8
Issuance of common stock for stock-based compensation plans	21.3	21.3		21.3
Purchases of treasury stock	(135.5)	(135.5)					(135.5)
Issuance of treasury stock for stock-based compensation plans	1.4	1.4		(5.4)			6.8
Stock-based compensation	28.6	28.6		28.6
Other comprehensive income (loss), net of tax	(113.2)	(112.5)				(112.5)		(0.7)
Balance at end of period (in shares) at Jun. 30, 2024			430.4
Balance at end of period at Jun. 30, 2024	10,024.2	9,958.2	$ 4.3	9,595.3	2,068.3	(340.1)	(1,369.6)	66
Balance at beginning of period (in shares) at Mar. 31, 2024			429.7
Balance at beginning of period at Mar. 31, 2024	9,919.7	9,855.3	$ 4.3	9,569.8	1,891.3	(302.6)	(1,307.5)	64.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	186.5	185			185			1.5
Dividends declared	(8)	(8)			(8)
Issuance of common stock for stock-based compensation plans (in shares)			0.7
Issuance of common stock for stock-based compensation plans	11.2	11.2		11.2
Purchases of treasury stock	(62.6)	(62.6)					(62.6)
Issuance of treasury stock for stock-based compensation plans	0.3	0.3		(0.2)			0.5
Stock-based compensation	14.5	14.5		14.5
Other comprehensive income (loss), net of tax	(37.4)	(37.5)				(37.5)		0.1
Balance at end of period (in shares) at Jun. 30, 2024			430.4
Balance at end of period at Jun. 30, 2024	$ 10,024.2	$ 9,958.2	$ 4.3	$ 9,595.3	$ 2,068.3	$ (340.1)	$ (1,369.6)	$ 66

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash Flows From Operating Activities:
Net income	$ 391	$ 344
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization of intangible assets	182.8	182.1
Depreciation	51.3	43.7
Non-cash restructuring charges	0	1.9
Stock-based compensation expense	28.6	24
Loss (income) on equity method investments	14.2	(2.7)
Foreign currency transaction gains, net	(0.7)	(0.1)
Non-cash adjustments to carrying value of LIFO inventories	7.2	14.3
Loss on extinguishment of debt	3	0.9
Loss on sale of asbestos-related assets and liabilities	33.7	0
Other non-cash adjustments	3.4	5.2
Changes in assets and liabilities:
Receivables	(8.1)	(62.7)
Inventories	(63.6)	(29.6)
Accounts payable	(72.8)	(126.8)
Accrued liabilities	(44.3)	53.1
Other assets and liabilities, net	(59.2)	(48.6)
Net cash provided by operating activities	466.5	398.7
Cash Flows Used In Investing Activities:
Capital expenditures	(84.1)	(47.2)
Net cash paid in acquisitions	(2,744)	(615.8)
Disposals of property, plant and equipment	0	7.3
Other investing	(6)	0.3
Net cash used in investing activities	(2,834.1)	(655.4)
Cash Flows From (Used In) Financing Activities:
Principal payments on long-term debt	(1,240.7)	(20.6)
Proceeds from long-term debt	3,296.9	0
Purchases of treasury stock	(135.5)	(132.8)
Cash dividends on common shares	(16.1)	(16.2)
Proceeds from stock option exercises	22.7	15.6
Payments to settle cross-currency swaps	(19.9)	0
Payments of deferred and contingent acquisition consideration	(12)	(5.3)
Payments of debt issuance costs	(32.3)	(5.3)
Other financing	(1.1)	(1.1)
Net cash provided by (used in) financing activities	1,862	(165.7)
Effect of exchange rate changes on cash and cash equivalents	(27.4)	(12.5)
Net decrease in cash and cash equivalents	(533)	(434.9)
Cash and cash equivalents, beginning of period	1,595.5	1,613
Cash and cash equivalents, end of period	1,062.5	1,178.1
Supplemental Cash Flow Information
Cash paid for income taxes, net of refunds	128.9	100.3
Cash paid for interest, net of interest rate derivative settlements	$ 56.9	$ 73.5

Basis of Presentation and Recen

Basis of Presentation and Recent Accounting Pronouncements	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Recent Accounting Pronouncements	Basis of Presentation and Recent Accounting Pronouncements Basis of Presentation Ingersoll Rand Inc. is a global provider of mission-critical flow creation products and life science and industrial solutions. The accompanying condensed consolidated financial statements include the accounts of Ingersoll Rand Inc. and its majority-owned subsidiaries (collectively referred to herein as “Ingersoll Rand” or the “Company”). The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial reporting, the instructions for Form 10-Q and Article 10 of the U.S. Securities and Exchange Commission (“SEC”) Regulation S-X. In the Company’s opinion, the condensed consolidated financial statements reflect all adjustments of a normal recurring nature necessary for a fair statement of the results for the interim periods presented. The condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023 (“2023 Annual Report”). The results of operations for the three month period ended June 30, 2024 are not necessarily indicative of future results. Divestiture of Asbestos Liabilities and Certain Assets On June 10, 2024, the Company divested three wholly-owned subsidiaries that hold asbestos liabilities and certain assets, including the related insurance assets, to a third-party. The divestiture resulted in a pre-tax loss of $58.8 million, recorded to “Other operating expense, net.” See Note 18 “ Contingencies ” for additional details. Recently Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standard Update (“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.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Acquisitions	Acquisitions Acquisitions in 2024 On February 1, 2024, the Company completed the acquisition of Friulair S.r.l. (“Friulair”) for initial cash consideration of $142.2 million and contingent consideration of up to approximately $11.0 million. The business is a manufacturer of dryers, filters, aftercoolers, and accessories for the treatment of compressed air and its chiller product line. The acquisition is intended to increase the scale of the Company’s air dryer business and will add new chiller production capabilities. Friulair has been reported within the Industrial Technologies and Services segment. The goodwill arising from the acquisition is primarily 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 April 1, 2024, the Company completed the acquisition of Controlled Fluidics, LLC (“Controlled Fluidics”) for initial cash consideration of $49.9 million and contingent consideration of up to $2.0 million. The business specializes in thermoplastic, high-performance plastic bonding and custom plastic assembly products for life sciences, medical, aerospace, and industrial applications. The acquisition will complement Ingersoll Rand’s current life sciences offerings and increase the Company’s market share in high-growth, sustainable end markets. Controlled Fluidics has been reported within the Precision and Science Technologies segment. On April 2, 2024, the Company completed the acquisition of Ethafilter s.r.l. (“Ethafilter”) for cash consideration of $15.6 million. The business primarily produces filters and filter elements that can be used with all major brands in the compressed air sector. The acquisition will expand Ingersoll Rand’s product portfolio, extend its reach in highly attractive end markets with the addition of sterile filter technology, and drive ongoing growth from aftermarket services and offerings. Ethafilter has been reported within the Industrial Technologies and Services segment. On May 1, 2024, the Company completed the acquisition of Air Systems, LLC (“Air Systems”) for cash consideration of $35.2 million. The business is a provider of compressed air services. Air Systems has been reported within the Industrial Technologies and Services segment. On May 31, 2024, the Company completed the acquisition of Complete Air and Power Solutions (“CAPS”) for cash consideration of $96.7 million. The business is a provider of compressed air and power generation services. The acquisition is expected to expand the Company’s channel within Australia. CAPS has been reported within the Industrial Technologies and Services segment. On May 31, 2024, the Company completed the acquisition of Fruvac Ltd. (“Fruitland Manufacturing”) for cash consideration of $28.3 million. The business is a manufacturer of mobile and truck mounted vacuum pumps, systems, and peripheral parts. The acquisition is expected to expand the Company’s capabilities to include low flow applications in the mobile vacuum market. Fruitland Manufacturing has been reported within the Industrial Technologies and Services segment. On June 1, 2024, the Company completed the acquisition of Del PD Pumps & Gear Pvt Ltd. (“Del Pumps”) for cash consideration of $25.2 million. The business is a manufacturer of rotary, twin, and triple gear pumps for the loading, unloading, transfer, and pressurization of liquids. The acquisition will complement the Company’s portfolio of mission critical, high margin pumping solutions across life science, food and beverage, medical, natural gas, and wastewater treatment industries. Del Pumps has been reported within the Precision and Science Technologies segment. On June 3, 2024, the Company completed the acquisition of Astronaut Topco, LP and Astronaut Topco GP, LLC (collectively “ILC Dover”) for initial cash consideration of $2,360.2 million and contingent consideration of up to $75.0 million. ILC Dover’s offerings include solutions for biopharmaceutical, pharmaceutical, and medical device markets as well as products for the space industry and will be reported in the Precision and Science Technologies segment. Based on the preliminary benchmarking valuation, the identified intangible assets consist of customer relationships, tradenames and technology. The goodwill arising from the acquisition is primarily attributable to revenue and cost synergies, anticipated growth of new and existing customers, and the assembled workforce. The majority of this goodwill is not expected to be deductible for tax purposes. Other acquisitions completed during the six months ended June 30, 2024 include a manufacturer of vacuum pumps and accessories, substantially all of which have been reported within the Industrial Technologies and Services segment. The aggregate consideration for this acquisition was $1.3 million. The following table summarizes the allocation of consideration for all businesses acquired in 2024 to the fair values of identifiable assets acquired and liabilities assumed at the acquisition dates. Initial accounting for these acquisitions is preliminary, and amounts assigned to acquired assets and liabilities assumed are subject to change as information necessary to complete the analysis is obtained. ILC Dover Friulair All Others Total Accounts receivable $ 41.7 $ 14.2 $ 22.3 $ 78.2 Inventories 86.1 13.2 25.6 124.9 Other current assets 48.8 0.5 2.8 52.1 Property, plant and equipment 78.3 7.2 13.7 99.2 Goodwill 1,417.0 67.1 179.9 1,664.0 Other intangible assets 947.7 84.5 32.2 1,064.4 Other assets 16.3 — 5.7 22.0 Total current liabilities (32.8) (11.0) (22.9) (66.7) Deferred tax liabilities (174.4) (24.2) (1.5) (200.1) Other noncurrent liabilities (18.5) (2.8) (5.3) (26.6) Total consideration $ 2,410.2 $ 148.7 $ 252.5 $ 2,811.4 The aggregate revenue and operating income included in the condensed consolidated financial statements for these acquisitions subsequent to the dates of acquisition was $64.5 million and $6.1 million for the three month period ended June 30, 2024, respectively, and $75.8 million and $6.6 million for the six month period then ended, respectively. The operating income of these acquired businesses include the effects of acquisition-related accounting adjustments such as amortization of intangible assets and fair value adjustments to acquired inventory. Acquisitions in 2023 On January 3, 2023, the Company completed the acquisition of SPX FLOW’s Air Treatment business (“Air Treatment”) for cash consideration of $519.0 million. The business is a manufacturer of desiccant and refrigerated dryers, filtration systems and purifiers for dehydration in compressed air. The acquisition is intended to expand the Company’s offerings of compressor system components through globally recognized brands. The Air Treatment business has been reported within the Industrial Technologies and Services segment. The goodwill arising from the acquisition is primarily 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 $290.0 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 primarily 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 $84.0 million. These primarily consist of manufacturers and distributors of existing and adjacent offerings in the Industrial Technologies and Services segment. 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 other acquisitions completed in 2023 is substantially complete. Air Treatment Roots All Others Total Accounts receivable $ 26.1 $ 14.5 $ 11.7 $ 52.3 Inventories 43.9 34.2 21.0 99.1 Other current assets 2.1 2.9 6.2 11.2 Property, plant and equipment 18.4 42.0 5.0 65.4 Goodwill 279.9 105.6 126.7 512.2 Other intangible assets 238.6 116.9 25.4 380.9 Other assets 7.6 3.1 0.4 11.1 Total current liabilities (35.9) (26.9) (19.5) (82.3) Deferred tax liabilities (54.8) — (3.9) (58.7) Other noncurrent liabilities (6.9) (2.3) (4.5) (13.7) Total consideration $ 519.0 $ 290.0 $ 168.5 $ 977.5 The revenues included in the condensed consolidated financial statements for these acquisitions subsequent to their date of acquisition was $110.5 million and $60.6 million for the three month periods ended June 30, 2024 and 2023, respectively, and $206.1 million and $109.0 million for the six month periods then ended, respectively. The operating income included in the condensed consolidated financial statements for these acquisitions subsequent to their date of acquisition was $16.7 million and $3.7 million for the three month periods ended June 30, 2024 and 2023, respectively, and $28.2 million and $6.9 million for the six month periods then ended, respectively. The operating income of these acquired businesses include the effects of acquisition-related accounting adjustments such as amortization of intangible assets and fair value adjustments to acquired inventory.

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring 2024 and 2023 Actions The Company continues to undertake restructuring actions to optimize our cost structure. Charges incurred from actions taken in 2024 and 2023 include workforce restructuring, facility consolidation and other exit and disposal costs. For the three and six month periods ended June 30, 2024 and 2023, “Restructuring charges, net” were recognized within “Other operating expense, net” in the Condensed Consolidated Statements of Operations and consisted of the following. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Industrial Technologies and Services $ 3.1 $ 3.8 $ 8.2 $ 6.9 Precision and Science Technologies 0.6 1.4 5.0 1.0 Corporate 0.2 — 0.4 0.2 Restructuring charges, net $ 3.9 $ 5.2 $ 13.6 $ 8.1 The following table summarizes the activity associated with the Company’s restructuring programs for the three and six month periods ended June 30, 2024 and 2023. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Balance at beginning of period $ 20.6 $ 13.4 $ 15.5 $ 14.9 Charged to expense - termination benefits 3.4 2.4 12.7 3.3 Charged to expense - other (1) 0.5 1.8 0.9 2.9 Payments (8.9) (7.2) (13.2) (10.8) Currency translation adjustment and other — 0.1 (0.3) 0.2 Balance at end of period $ 15.6 $ 10.5 $ 15.6 $ 10.5 (1) Excludes $1.0 million and $1.9 million of non-cash charges that impacted restructuring expense but not the restructuring liabilities during the three and six month periods ended June 30, 2023, respectively.

Allowance for Credit Losses

Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Allowance for Credit Losses	Allowance for Credit Losses The allowance for credit losses for the three and six month periods ended June 30, 2024 and 2023 consisted of the following. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Balance at beginning of the period $ 55.3 $ 51.0 $ 53.8 $ 47.2 Provision charged to expense 1.8 2.2 4.3 6.2 Write-offs, net of recoveries (0.6) (1.3) (0.9) (1.7) Foreign currency translation and other 0.4 (0.7) (0.3) (0.5) Balance at end of the period $ 56.9 $ 51.2 $ 56.9 $ 51.2

Inventories

Inventories	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Inventories	Inventories Inventories as of June 30, 2024 and December 31, 2023 consisted of the following. June 30, 2024 December 31, 2023 Raw materials, including parts and subassemblies $ 714.7 $ 590.7 Work-in-process 129.9 145.1 Finished goods 395.1 337.8 1,239.7 1,073.6 LIFO reserve (79.7) (72.5) Inventories $ 1,160.0 $ 1,001.1

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill The changes in the carrying amount of goodwill attributable to each reportable segment for the six month period ended June 30, 2024 is presented in the table below. Industrial Technologies and Services Precision and Science Technologies Total Balance at beginning of period $ 4,753.5 $ 1,856.2 $ 6,609.7 Acquisitions 178.3 1,485.7 1,664.0 Foreign currency translation and other (1) (36.4) (20.2) (56.6) Balance at end of period $ 4,895.4 $ 3,321.7 $ 8,217.1 (1) Includes measurement period adjustments As of both June 30, 2024 and December 31, 2023, goodwill included accumulated impairment losses of $220.6 million within the Industrial Technologies and Services segment. Other Intangible Assets, Net Other intangible assets as of June 30, 2024 and December 31, 2023 consisted of the following. June 30, 2024 December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets Customer lists and relationships $ 4,006.0 $ (1,709.8) $ 2,296.2 $ 3,279.3 $ (1,585.4) $ 1,693.9 Technology 527.5 (210.0) 317.5 413.8 (178.9) 234.9 Tradenames 59.8 (30.0) 29.8 52.2 (27.9) 24.3 Backlog 4.4 (3.0) 1.4 3.0 (1.3) 1.7 Other 127.5 (108.2) 19.3 117.1 (104.1) 13.0 Unamortized intangible assets Tradenames 1,814.0 — 1,814.0 1,643.3 — 1,643.3 Total other intangible assets $ 6,539.2 $ (2,061.0) $ 4,478.2 $ 5,508.7 $ (1,897.6) $ 3,611.1 Intangible Asset Impairment Considerations As of June 30, 2024 and December 31, 2023, there were no indications that the carrying value of goodwill and other intangible assets may not be recoverable.

Supply Chain Finance Program

Supply Chain Finance Program	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Supply Chain Finance Program	Supply Chain Finance Program 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” within our Condensed Consolidated Statements of Cash Flows. Included in “Accounts payable” in the Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 were $26.1 million and $24.3 million of outstanding payment obligations, respectively, that were sold to the financial institution by participating suppliers.

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Accrued Liabilities	Accrued Liabilities Accrued liabilities as of June 30, 2024 and December 31, 2023 consisted of the following. June 30, 2024 December 31, 2023 Salaries, wages and related fringe benefits $ 199.8 $ 262.4 Contract liabilities 324.0 331.2 Product warranty 72.3 61.9 Operating lease liabilities 47.1 41.6 Restructuring 15.6 15.5 Taxes 58.0 78.4 Accrued interest 55.8 33.1 Other 239.0 171.4 Total accrued liabilities $ 1,011.6 $ 995.5 A reconciliation of the changes in the accrued product warranty liability for the three and six month periods ended June 30, 2024 and 2023 are as follows. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Balance at beginning of period $ 65.6 $ 54.1 $ 61.9 $ 46.2 Product warranty accruals 12.7 15.8 26.3 24.7 Acquired warranty 0.7 — 0.7 1.4 Settlements (6.5) (11.0) (15.8) (14.9) Foreign currency translation and other (0.2) (1.5) (0.8) — Balance at end of period $ 72.3 $ 57.4 $ 72.3 $ 57.4

Benefit Plans

Benefit Plans	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Benefit Plans	Benefit Plans Net Periodic Benefit Cost The following table summarizes the components of net periodic benefit cost for the Company’s defined benefit pension plans and other postretirement benefit plans recognized for the three and six month periods ended June 30, 2024 and 2023. Pension Benefits Other Postretirement Benefits U.S. Plans Non-U.S. Plans For the Three Month Period Ended June 30, 2024 2023 2024 2023 2024 2023 Service cost $ — $ — $ 0.7 $ 0.6 $ — $ — Interest cost 3.5 3.9 2.6 2.8 0.2 0.3 Expected return on plan assets (3.3) (3.4) (2.7) (2.7) — — Recognition of: Unrecognized prior service cost — — 0.1 0.1 — — Unrecognized net actuarial loss 0.1 0.1 (0.4) (0.5) (0.2) (0.2) 0.3 0.6 0.3 0.3 — 0.1 Gain on settlement — (0.6) — — — — $ 0.3 $ — $ 0.3 $ 0.3 $ — $ 0.1 Pension Benefits Other Postretirement Benefits U.S. Plans Non-U.S. Plans For the Six Month Period Ended June 30, 2024 2023 2024 2023 2024 2023 Service cost $ — $ — $ 1.4 $ 1.2 $ — $ — Interest cost 7.0 7.9 5.3 5.5 0.4 0.5 Expected return on plan assets (6.6) (6.7) (5.5) (5.4) — — Recognition of: Unrecognized prior service cost — — 0.1 0.1 — — Unrecognized net actuarial loss 0.1 0.1 (0.7) (0.9) (0.4) (0.3) 0.5 1.3 0.6 0.5 — 0.2 Gain on settlement — (0.6) — — — — $ 0.5 $ 0.7 $ 0.6 $ 0.5 $ — $ 0.2 The components of net periodic benefit cost other than the service cost component are included in “Other income, net” in the Condensed Consolidated Statements of Operations.

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt Debt as of June 30, 2024 and December 31, 2023 is summarized as follows. June 30, 2024 December 31, 2023 Short-term borrowings $ 3.1 $ 1.0 Long-term debt: Dollar Term Loan B, due February 2027 (1)(2) — 347.7 Dollar Term Loan, due February 2027 (1)(2) — 892.3 5.197% Senior Notes, due June 2027 (1) 699.9 — 5.400% Senior Notes, due August 2028 (1) 498.4 498.2 5.176% Senior Notes, due June 2029 (1) 750.0 — 5.314% Senior Notes, due June 2031 (1) 500.0 — 5.700% Senior Notes, due August 2033 (1) 993.0 992.6 5.450% Senior Notes, due June 2034 (1) 749.5 — 5.700% Senior Notes, due June 2054 (1) 597.6 — Finance leases and other long-term debt 14.6 15.2 Swap valuation adjustments (3) — — Unamortized debt issuance costs (50.7) (23.4) Total long-term debt, net, including current maturities 4,752.3 2,722.6 Current maturities of long-term debt 1.4 29.6 Total long-term debt, net $ 4,750.9 $ 2,693.0 (1) This amount is net of unamortized discounts. Total unamortized discounts were $11.6 million and $9.9 million as of June 30, 2024 and December 31, 2023, respectively. (2) The weighted-average interest rate was 7.18% for the six month period ended June 30, 2024. (3) As of June 30, 2024, the swap valuation adjustments on our interest rate swaps designated as fair value hedges were immaterial. New Senior Notes On May 10, 2024, the Company issued $3,300.0 million in aggregate principal amount of senior unsecured notes comprised of $700.0 million aggregate principal amount of 5.197% Senior Notes due 2027 (the “2027 Notes”), $750.0 million aggregate principal amount of 5.176% Senior Notes due 2029 (the “2029 Notes”), $500.0 million aggregate principal amount of 5.314% Senior Notes due 2031 (the “2031 Notes”), $750.0 million aggregate principal amount of 5.450% Senior Notes due 2034 (the “2034 Notes”) and $600.0 million aggregate principal amount of 5.700% Senior Notes due 2054 (the “2054 Notes” and, together with the 2027 Notes, 2029 Notes, 2031 Notes and 2034 Notes, the “New Notes,” and collectively with the existing senior unsecured notes, the “Senior Notes”). The Company used the net proceeds of the 2034 Notes and the 2054 Notes to repay in full all indebtedness under, and terminate all commitments and discharge and release all guarantees in respect of, the Company’s former Senior Secured Credit Facilities and used the remaining net proceeds of such New Notes for general corporate purposes. The Company used the net proceeds of the 2027 Notes, the 2029 Notes and the 2031 Notes to partially fund the cash consideration of the acquisition of ILC Dover, with any remaining cash consideration funded with cash on hand. The New Notes were issued pursuant to a base indenture, dated as of August 14, 2023 (the “Base Indenture”), between the Company and Deutsche Bank Trust Company Americas, as trustee (the “Trustee”), as supplemented by the third supplemental indenture (the “Supplemental Indenture” and, together with the Base Indenture, the “New Indenture”) dated as of May 10, 2024, between the Company and the Trustee. The interest payment dates for the New Notes are June 15 and December 15 of each year, with interest payable in arrears. The New Notes mature on June 15 in their respective year of maturity. The New 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 from time to time outstanding, senior in right of payment to all of the Company’s subordinated indebtedness from time to time outstanding, and effectively junior to all of the indebtedness and other liabilities of the Company’s subsidiaries from time to time outstanding and to all of the Company’s secured indebtedness from time to time outstanding to the extent of the value of the assets securing such secured indebtedness. Prior to (i) May 15, 2027, in the case of the 2027 Notes, (ii) May 15, 2029, in the case of the 2029 Notes, (iii) April 15, 2031, in the case of the 2031 Notes, (iv) March 15, 2034, in the case of the 2034 Notes, and (v) December 15, 2053, in the case of the 2054 Notes, the Company may redeem the New 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) May 15, 2027, in the case of the 2027 Notes, (ii) May 15, 2029, in the case of the 2029 Notes, (iii) April 15, 2031, in the case of the 2031 Notes, (iv) March 15, 2034, in the case of the 2034 Notes, and (v) December 15, 2053, in the case of the 2054 Notes, the Company may redeem the New 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 New Notes of such series to be redeemed, plus accrued and unpaid interest thereon to, but not including, the redemption date. Additionally, if the Company experiences certain types of change of control transactions, the Company must offer to repurchase the New Notes at 101% of the aggregate principal amount of the New 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. Former Senior Secured Credit Facilities The former Senior Secured Credit Facilities provided senior secured financing consisting of (i) a senior secured term loan facility denominated in U.S. dollars (as refinanced and otherwise modified from time to time prior to February 28, 2020, the “Original Dollar Term Loan”), (ii) a senior secured term loan facility denominated in U.S. dollars (entered into at the time of the Merger, the “Dollar Term Loan B”), and (iii) a senior secured revolving credit facility (as refinanced and otherwise modified from time to time the “Revolving Credit Facility”). The Revolving Credit Facility is available to be drawn in U.S. dollars (“USD”), Euros (“EUR”), Great British Pounds (“GBP”) and other reasonably accepted foreign currencies, subject to certain sublimits for the foreign currencies. On April 21 2023, the Company entered into Amendment No. 9 to the Credit Agreement, which (a) extended the maturity date for the revolving credit commitments from June 28, 2024 to April 21, 2028, (b) increased the aggregate revolving credit commitments from $1,100.0 million to $2,000.0 million, and (c) made certain other corresponding changes and updates. Other than as modified by Amendment No. 9, the loans under the Credit Agreement continue to have the same terms and the parties to the Credit Agreement continue to have the same obligations set forth in the Credit Agreement. The amendment resulted in the write-off of unamortized debt issuance costs of $0.9 million which was recognized in “Loss on extinguishment of debt” in the Condensed Consolidated Statements of Operations. 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 Condensed Consolidated Statements of Operations. In May 2024, the Company repaid the remaining portion of the Dollar Term B and Dollar Term Loan which resulted in the write-off of unamortized discounts and debt issuance costs of $3.0 million, which was recognized in “Loss on extinguishment of debt” in the Condensed Consolidated Statements of Operations. See Note 11 “Debt” to the consolidated financial statements in the Company’s 2023 Annual Report for further information on the former Senior Secured Credit Facilities. New Revolving Credit Facility On May 10, 2024, the Company entered into a credit agreement (the “New Revolving Credit Facility”), with the lenders party thereto and Citibank, N.A., as administrative agent. The New Revolving Credit Facility provides for a senior unsecured revolving facility in an aggregate committed amount of $2,600 million, a portion of which is available for the issuance of letters of credit in U.S. dollars, EUR or GBP. The New Revolving Credit Facility will mature on May 10, 2029, subject to up to two additional one-year extensions pursuant to the terms of the New Revolving Credit Facility. Borrowings under the New Revolving Credit Facility (other than borrowings in EUR or GBP) bear interest at a rate determined, at the Company’s option, based on either (i) an alternate base rate or (ii) a Term SOFR rate with a 0.10% per annum Term SOFR adjustment, plus, in each case, an applicable margin that varies depending on the credit rating of the Company. Borrowings under the New Revolving Credit Facility in EUR (if any) bear interest at a EURIBOR rate, plus, in each case, an applicable margin that varies depending on the credit rating of the Company. Borrowings under the New Revolving Credit Facility in GBP (if any) bear interest at a daily simple SONIA rate plus, in each case, an applicable margin that varies depending on the credit rating of the Company. The financial covenant in the New Revolving Credit Facility requires the Company to maintain, as of the last day of each fiscal quarter (beginning with the second fiscal quarter of 2024), a ratio of adjusted consolidated total net debt to consolidated adjusted earnings before interest, taxes, depreciation and amortization (“EBITDA”) of not more than 3.50 to 1.00, provided that the Company may elect to increase such ratio to 4.00 to 1.00 following a qualified acquisition up to two times, each for a period of four fiscal quarters beginning with the quarter during which such qualified acquisition is consummated (and if the second election occurs during the first increase period, such increase will be effective for a total of eight consecutive fiscal quarters). As of June 30, 2024, the aggregate amount of commitments under the New Revolving Credit Facility was $2,600.0 million and the capacity under the New Revolving Credit Facility to issue letters of credit was $200.0 million. As of June 30, 2024, the Company had no outstanding borrowings under the New Revolving Credit Facility, no outstanding letters of credit under the New Revolving Credit Facility and unused availability under the New Revolving Credit Facility of $2,600.0 million. As of June 30, 2024, we were in compliance with all covenants of our Senior Notes and New Revolving Credit Facility. Fair Value of Debt The fair value of the Company’s debt instruments at June 30, 2024 was $4.9 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 14, “ Fair Value Measurements ” for information on the fair value hierarchy.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Plans	Stock-Based Compensation Plans The Company has outstanding stock-based compensation awards granted under the 2013 Stock Incentive Plan (“2013 Plan”) and the 2017 Omnibus Incentive Plan (as amended by the First Amendment, dated April 27, 2021, “2017 Plan”) as described in Note 18, “Stock-Based Compensation Plans” to the consolidated financial statements in its 2023 Annual Report. The Company’s stock-based compensation awards are generally granted in the first quarter of the year and consist of stock options, restricted stock units and performance share units. In some instances, such as death, awards may vest concurrently with or following an employee’s termination. Stock-Based Compensation For the three month periods ended June 30, 2024 and 2023, the Company recognized stock-based compensation expense of $14.5 million and $11.9 million, respectively, and $28.6 million and $24.0 million for the six month periods then ended, respectively. These costs are included in “Cost of sales” and “Selling and administrative expenses” in the Condensed Consolidated Statements of Operations. As of June 30, 2024, there was $131.5 million of total unrecognized compensation expense related to outstanding stock options, restricted stock unit awards and performance stock unit awards granted to employees and non-employee directors, as well as 300,000 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 300,000 stock options have not been included in the Stock Option Awards section below since the grant date has not occurred. Stock Option Awards Stock options are granted to employees with an exercise price equal to the fair value of the Company’s per share common stock on the date of grant. Stock option awards typically vest over four years or five years and expire ten years from the date of grant. A summary of the Company’s stock option (including SARs) activity for the six month period ended June 30, 2024 is presented in the following table (underlying shares in thousands). Shares Weighted-Average Exercise Price (per share) Stock options outstanding as of December 31, 2023 5,282 $ 31.09 Granted 525 90.35 Exercised or settled (1,287) 17.62 Forfeited (40) 58.96 Expired (2) 31.29 Stock options outstanding as of June 30, 2024 4,478 41.66 Vested as of June 30, 2024 2,994 29.03 The following assumptions were used to estimate the fair value of options granted during the six month periods ended June 30, 2024 and 2023 using the Black-Scholes option-pricing model. For the Six Month Period Ended June 30, Assumptions 2024 2023 Expected life of options (in years) 6.3 - 7.5 6.3 - 7.5 Risk-free interest rate 4.2% - 4.3% 3.8% - 4.1% Assumed volatility 35.1% - 35.2% 36.4% - 36.6% Expected dividend rate 0.1 % 0.1 % Restricted Stock Unit Awards Restricted stock units are granted to employees and non-employee directors based on the market price of the Company’s common stock on the grant date and recognized in compensation expense over the vesting period. A summary of the Company’s restricted stock unit activity for the six month period ended June 30, 2024 is presented in the following table (underlying shares in thousands). Shares Weighted-Average Grant-Date Fair Value Non-vested as of December 31, 2023 957 $ 52.18 Granted 321 89.86 Vested (397) 47.64 Forfeited (43) 62.10 Non-vested as of June 30, 2024 838 68.24 Performance Share Unit (“PSUs”) Awards Annually, during the first quarter, the Company grants TSR PSUs to certain officers in which the number of shares issued at the end of the performance period is determined by the Company’s total shareholder return percentile rank versus the S&P 500 index for the three year performance period. The grant date fair value of these awards is determined using a Monte Carlo simulation pricing model and compensation cost is recognized straight-line over a three year period. During the third quarter of 2022, the Company granted Special TSR PSUs to its Chairman and CEO that will become earned (but not vested) on the first date during the five year performance period on which the sum of (i) the 60-day volume-weighted average closing price of the Company’s common stock, plus (ii) the cumulative value of any dividends paid during the five year performance period equals or exceeds $81.85. The grant date fair value of these awards is determined using a Monte Carlo simulation pricing model and compensation cost is recognized straight-line over a five year period. The share price performance goal was achieved on March 6, 2024, but the PSUs will not vest until September 1, 2027, generally subject to Mr. Reynal’s continued employment through such date. The Company also granted its Chairman and CEO Special EPS PSUs that are eligible to vest based on the level of compounded annual growth rate of the Company’s Adjusted EPS during the five year performance period. The grant date fair value of these awards is based on the market price of the Company’s common stock on the grant date and recognized as a compensation expense over a 4.3 year period. A summary of the Company’s performance stock unit activity for the six month period ended June 30, 2024 is presented in the following table (underlying shares in thousands). Shares Weighted-Average Grant-Date Fair Value Non-vested as of December 31, 2023 1,380 $ 49.53 Granted 87 132.98 Change in units based on performance 122 55.84 Vested (244) 55.84 Forfeited (6) 71.81 Non-vested as of June 30, 2024 1,339 54.28 The following assumptions were used to estimate the fair value of performance share units granted during the six month periods ended June 30, 2024 and 2023 using the Monte Carlo simulation pricing model. For the Six Month Period Ended June 30, Assumptions 2024 2023 Expected term (in years) 2.8 2.9 Risk-free interest rate 4.5% 4.4 % Assumed volatility 28.9% 31.8 % Expected dividend rate 0.1 % 0.1 %

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive 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 certain hedges of net investments in foreign operations, net of income taxes; (iii) unrealized gains and losses on cash flow hedges (consisting of interest rate swap and cap contracts), net of income taxes; and (iv) pension and other postretirement prior service cost and actuarial gains or losses, net of income taxes. See Note 9 “ Benefit Plans ” and Note 13 “ Hedging Activities and Derivative Instruments .” The before tax income (loss) and related income tax effect are as follows. For the Three Month Period Ended June 30, 2024 2023 Before-Tax Amount Tax Benefit (Expense) Net of Tax Amount Before-Tax Amount Tax Benefit (Expense) Net of Tax Amount Foreign currency translation adjustments, net $ (26.5) $ (7.5) $ (34.0) $ (46.6) $ — $ (46.6) Unrecognized gains (losses) on cash flow hedges (7.1) 5.0 (2.1) 14.6 (3.7) 10.9 Pension and other postretirement benefit prior service cost and gain or loss, net (1.8) 0.4 (1.4) (1.5) 0.4 (1.1) Other comprehensive loss $ (35.4) $ (2.1) $ (37.5) $ (33.5) $ (3.3) $ (36.8) For the Six Month Period Ended June 30, 2024 2023 Before-Tax Amount Tax Benefit (Expense) Net of Tax Amount Before-Tax Amount Tax Benefit (Expense) Net of Tax Amount Foreign currency translation adjustments, net $ (93.9) $ (13.6) $ (107.5) $ (0.4) $ (15.4) $ (15.8) Unrecognized gains (losses) on cash flow hedges (7.2) 5.0 (2.2) 7.5 (1.9) 5.6 Pension and other postretirement benefit prior service cost and gain or loss, net (3.7) 0.9 (2.8) (1.7) 0.4 (1.3) Other comprehensive loss $ (104.8) $ (7.7) $ (112.5) $ 5.4 $ (16.9) $ (11.5) The tables above include only the other comprehensive income (loss), net of tax, attributable to Ingersoll Rand Inc. Other comprehensive income (loss), net, attributable to noncontrolling interest holders was $0.1 million and $(0.1) million for the three month periods ended June 30, 2024 and 2023, respectively, and $(0.7) million and $0.8 million for the six month periods ended June 30, 2024 and 2023, respectively, and related entirely to foreign currency translation adjustments. Changes in accumulated other comprehensive loss by component for the six month periods ended June 30, 2024 and 2023 are presented in the following table, net of tax. Foreign Currency Translation Adjustments, Net Cash Flow Hedges Pension and Other Postretirement Benefit Plans Total Balance as of December 31, 2023 $ (248.0) $ 12.2 $ 8.2 $ (227.6) Other comprehensive income (loss) before reclassifications (101.1) 4.4 (2.1) (98.8) Amounts reclassified from accumulated other comprehensive loss (6.4) (6.6) (0.7) (13.7) Other comprehensive loss (107.5) (2.2) (2.8) (112.5) Balance as of June 30, 2024 $ (355.5) $ 10.0 $ 5.4 $ (340.1) Foreign Currency Translation Adjustments, Net Cash Flow Hedges Pension and Other Postretirement Benefit Plans Total Balance as of December 31, 2022 $ (282.8) $ 16.0 $ 15.1 $ (251.7) Other comprehensive income (loss) before reclassifications (8.2) 10.1 (0.1) 1.8 Amounts reclassified from accumulated other comprehensive loss (7.6) (4.5) (1.2) (13.3) Other comprehensive income (loss) (15.8) 5.6 (1.3) (11.5) Balance as of June 30, 2023 $ (298.6) $ 21.6 $ 13.8 $ (263.2) Reclassifications out of accumulated other comprehensive loss for the six month periods ended June 30, 2024 and 2023 are presented in the following table. Amount Reclassified from Accumulated Other Comprehensive Loss Details about Accumulated Other Comprehensive Loss Components For the Six Month Period Ended June 30, Affected Line(s) in the Statement Where Net Income is Presented 2024 2023 Cash flow hedges (interest rate swaps and caps) $ (8.8) $ (6.0) Interest expense Provision for income taxes 2.2 1.5 Provision for income taxes Cash flow hedges (interest rate swaps and caps), net of tax $ (6.6) $ (4.5) Net investment hedges $ (8.5) $ (10.2) Interest expense Provision for income taxes 2.1 2.6 Provision for income taxes Net investment hedges, net of tax $ (6.4) $ (7.6) Amortization of defined benefit pension and other postretirement benefit items (1) $ (0.9) $ (1.6) Cost of sales and Selling and administrative expenses Provision for income taxes 0.2 0.4 Provision for income taxes Amortization of defined benefit pension and other postretirement benefit items, net of tax $ (0.7) $ (1.2) Total reclassifications for the period, net of tax $ (13.7) $ (13.3) (1) These components are included in the computation of net periodic benefit cost. See Note 9 “ Benefit Plans ” for additional details.

Hedging Activities and Derivati

Hedging Activities and Derivative Instruments	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Hedging Activities and Derivative Instruments	Hedging Activities and Derivative Instruments Hedging Activities The Company is exposed to certain market risks during the normal course of its business arising from adverse changes in interest rates and foreign currency exchange rates. The Company selectively uses derivative financial instruments (“derivatives”), including cross-currency interest rate swap and foreign currency forward contracts and interest rate swap and cap contracts, to manage the risks from fluctuations in foreign currency exchange rates and interest rates, respectively. The Company does not purchase or hold derivatives for trading or speculative purposes. The Company 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 or fair value hedges of fixed rate debt in order to adjust the relative fixed and variable proportions. The Company’s exposure to interest rate risk results primarily from its fixed rate to floating rate interest rate swap contracts. A substantial portion of the Company’s operations is conducted by its subsidiaries outside of the United States in currencies other than the USD. Almost all of the Company’s non-U.S. subsidiaries conduct their business primarily in their local currencies, which are also their functional currencies. The USD, the EUR, GBP, Chinese Renminbi and Indian rupee are the principal currencies in which the Company and its subsidiaries enter into transactions. The Company is exposed to the impacts of changes in foreign currency exchange rates on the translation of its non-U.S. subsidiaries’ assets, liabilities and earnings into USD. The Company manages this exposure by having certain U.S. subsidiaries borrow in currencies other than the USD or utilizing cross-currency interest rate swaps as net investment hedges. The Company and its subsidiaries are also subject to the risk that arises when they, from time to time, enter into transactions in currencies other than their functional currency. To mitigate this risk, the Company and its subsidiaries typically settle intercompany trading balances at least quarterly. The Company also selectively uses forward currency contracts to manage this risk. These contracts for the sale or purchase of European and other currencies generally mature within one year. Derivative Instruments The following table summarizes the notional amounts, fair values and classification of the Company’s outstanding derivatives by risk category and instrument type within the Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023. June 30, 2024 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 Fair Value $ 750.0 $ — $ 7.0 $ 7.0 $ — Cross-currency interest rate swap contracts Net investment 1,074.3 10.6 0.6 — 3.3 Derivatives Not Designated as Hedging Instruments Foreign currency forwards Fair value $ 60.0 $ — $ — $ — $ — Foreign currency forwards Fair value 73.5 — — — 1.4 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 (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 to settle cross-currency swaps are classified as financing cash flows in the Condensed Consolidated Statements of Cash Flows. All other cash flows related to derivatives are classified as operating cash flows in the Condensed Consolidated Statements of Cash Flows. There were no off-balance sheet derivative instruments as of June 30, 2024 or December 31, 2023. Interest Rate Swap Contracts Designated as Fair Value Hedges As of June 30, 2024, the Company was the variable rate payor on four interest rate swap contracts that effectively convert a total of $400.0 million of the Company’s fixed rate borrowings to variable rate borrowings. These contracts expire in May 2029. These swap agreements qualify as hedging instruments and have been designated as fair value hedges of $400.0 million of the 2029 Notes, and were considered to be perfectly effective under the shortcut method. As of June 30, 2024, the Company was the variable rate payor on two interest rate swap contracts that effectively convert a total of $250.0 million of the Company’s fixed rate borrowings to variable rate borrowings. These contracts expire in April 2031. These swap agreements qualify as hedging instruments and have been designated as fair value hedges of $250.0 million of the 2031 Notes, and were considered to be perfectly effective under the shortcut method. As of June 30, 2024, the Company was the variable rate payor on one interest rate swap contract that effectively convert a total of $100.0 million of the Company’s fixed rate borrowings to variable rate borrowings. This contract expires in March 2034. This swap agreement qualifies as a hedging instrument and has been designated as a fair value hedge of $100.0 million of the 2034 Notes, and were considered to be perfectly effective under the shortcut method. June 30, 2024 December 31, 2023 Long-term debt: Carrying amount of hedged debt $ 750.0 $ — Cumulative hedging adjustments, included in carrying amount (1) — — (1) As of June 30, 2024, the swap valuation adjustments on our interest rate swaps designated as fair value hedges were immaterial. Interest Rate Swap and Cap Contracts Designated as Cash Flow Hedges In April 2024, the Company entered into forward-starting interest rate swap agreements to hedge against changes in future cash flows resulting from changes in interest rates from the trade date through the forecasted issuance date of debt. During the three months ended June 30, 2024, the Company entered into and terminated cash flow hedges with notional value of $750.0 million in connection with the 2034 Notes and $500.0 million in connection with the 2054 Notes, both of which were issued on May 10, 2024. The swaps were terminated on May 7, 2024, with a loss of $2.1 million on the swaps associated with the 2034 Notes and $2.3 million on the swaps associated with the 2054 Notes. These losses will be amortized as an increase to interest expense over the term of the respective notes. The Company was previously the fixed rate payor on two interest rate swap contracts that effectively fixed 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 carried a fixed rate of 3.2%. The Company and its counterparties terminated these contracts in May 2024. Prior to their termination, these swap agreements 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 June 30, 2024 was $9.7 million, all of which is expected to be reclassified into earnings as a reduction to interest expense 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 the original term of the contracts, ending in June 2025. The unrecognized gain remaining in AOCI as of June 30, 2024 was $3.4 million, all of which is expected to be reclassified into earnings as a reduction to interest expense during the next 12 months. Gains (losses) on derivatives designated as cash flow hedges included in the Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six month periods ended June 30, 2024 and 2023 are as presented in the table below. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Gain (loss) recognized in OCI on derivatives $ (3.0) $ 18.6 $ 1.6 $ 13.5 Gain reclassified from AOCI into income (effective portion) (1) 4.1 4.0 8.8 6.0 (1) Gains on derivatives reclassified from AOCI into income were included within “Interest expense” in the Condensed Consolidated Statements of Operations. Cross-Currency Interest Rate Swap Contracts Designated as Net Investment Hedges As of June 30, 2024, the Company was the fixed rate payor on three cross-currency interest rate swap contracts that replace a fixed rate of 5.4% on a total of $428.9 million with a fixed rate of 3.7% on a total of €400.0 million. These contracts expire in May 2027 and have been designated as net investment hedges of our Euro denominated subsidiaries and require an exchange of the notional amounts at maturity. As of June 30, 2024, the Company was the fixed rate payor on three cross-currency interest rate swap contracts that replace a fixed rate of 5.7% on a total of $322.7 million with a fixed rate of 4.1% on a total of €300.0 million. These contracts expire in May 2029 and have been designated as net investment hedges of our Euro denominated subsidiaries and require an exchange of the notional amounts at maturity. As of June 30, 2024, the Company was the fixed rate payor on three cross-currency interest rate swap contracts that replace a fixed rate of 5.7% on a total of $322.7 million with a fixed rate of 4.1% on a total of €300.0 million. These contracts expire in May 2031 and have been designated as net investment hedges of our Euro denominated subsidiaries and require an exchange of the notional amounts at maturity. The Company was previously the fixed rate payor on two cross-currency interest rate swap contracts that replaced 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 were designated as net investment hedges of our Euro denominated subsidiaries until May 10, 2024 when they were terminated for $10.0 million. The payments to settle the termination of the cross currency interest rate swaps are included in “Payments to settle cross-currency swaps” within our Condensed Consolidated Statements of Cash Flows. The recorded AOCI at the termination of the cross-currency interest rate swaps will remain in AOCI until there is a substantial liquidation of the Company’s net investment in subsidiaries with EUR functional currencies. The Company was previously a party to three cross-currency interest rate swap contracts where we received SOFR on a total of $525.7 million and paid EURIBOR on a total of €500.0 million. These contracts were designated as net investment hedges of our Euro denominated subsidiaries until May 10, 2024 when they were terminated for $9.9 million. The payments to settle the termination of the cross currency interest rate swaps are included in “Payments to settle cross-currency swaps” within our Condensed Consolidated Statements of Cash Flows. The recorded AOCI at the termination of the cross-currency interest rate swaps will remain in AOCI until there is a substantial liquidation of the Company’s net investment in subsidiaries with EUR functional currencies. Gains (losses) on derivatives designated as net investment hedges included in the Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six month periods ended June 30, 2024 and 2023 are as presented in the table below. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Gain (loss) recognized in OCI on derivatives $ 15.1 $ (6.6) $ 43.7 $ (12.1) Gain reclassified from AOCI into income (effective portion) (1) 4.3 4.8 8.5 10.2 (1) Gains on derivatives reclassified from AOCI into income were included within “Interest expense” in the Condensed Consolidated Statements of Operations. Foreign Currency Forwards Not Designated as Hedging Instruments The Company had three foreign currency forward contracts outstanding as of June 30, 2024 with notional amounts ranging from $14.7 million to $73.5 million. These contracts are used to hedge the change in fair value of recognized foreign currency denominated assets or liabilities caused by changes in currency exchange rates. The changes in the fair value of these contracts generally offset the changes in the fair value of a corresponding amount of the hedged items, both of which are included within “Other operating expense, net” in the Condensed Consolidated Statements of Operations. The Company’s foreign currency forward contracts are subject to master netting arrangements or agreements between the Company and each counterparty for the net settlement of all contracts through a single payment in a single currency in the event of default on or termination of any one contract with that certain counterparty. It is the Company’s practice to recognize the gross amounts in the Condensed Consolidated Balance Sheets. The amount available to be netted is not material. The Company’s gains (losses) on derivative instruments not designated as accounting hedges and total net foreign currency gains for the three and six month periods ended June 30, 2024 and 2023 were as follows. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Foreign currency forward contracts gains (losses) $ (2.0) $ — $ (2.0) $ 0.2 Total foreign currency transaction gains, net — 1.1 0.7 0.1

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements A financial instrument is defined as cash or cash equivalents, evidence of an ownership interest in an entity, or a contract that creates a contractual obligation or right to deliver or receive cash or another financial instrument from another party. The Company’s financial instruments consist primarily of cash and cash equivalents, trade accounts receivables, trade accounts payables, deferred compensation assets and obligations, acquisition related contingent consideration obligations, derivatives and debt instruments. The carrying values of cash and cash equivalents, trade accounts receivables, trade accounts payables, and variable rate debt instruments are a reasonable estimate of their respective fair values. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or more advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. Valuation techniques used to measure fair value must maximize the use of observable inputs and minimize the use of unobservable inputs. The fair value hierarchy is based on three levels of inputs, of which the first two are considered observable and the last unobservable, that may be used to measure fair value as follows. Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities as of the reporting date. Level 2 Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities as of the reporting date. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023. June 30, 2024 Level 1 Level 2 Level 3 Total Financial Assets Trading securities held in deferred compensation plan (1) $ 19.1 $ — $ — $ 19.1 Interest rate swaps (2) — 7.0 — 7.0 Cross-currency interest rate swaps (3) — 11.2 — 11.2 Foreign currency forwards (4) — — — — Total $ 19.1 $ 18.2 $ — $ 37.3 Financial Liabilities Deferred compensation plans (1) $ 26.5 $ — $ — $ 26.5 Interest rate swaps (2) — 7.0 — 7.0 Cross-currency interest rate swaps (3) — 3.3 — 3.3 Contingent consideration (5) — — 98.7 98.7 Foreign currency forwards (4) — 1.4 — 1.4 Total $ 26.5 $ 11.7 $ 98.7 $ 136.9 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 (1) Based on the quoted price of publicly traded mutual funds and other equity securities which are classified as trading securities and accounted for using the mark-to-market method. (2) Measured as the present value of all expected future cash flows based on the SOFR-based swap yield curves as of the end of the period. 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. Contingent Consideration Certain of the Company’s acquisitions may result in payments of consideration in future periods that are contingent upon the achievement of certain targets, generally measures of revenue and EBITDA. As part of the initial accounting for the acquisition, a liability is recorded for the estimated fair value of the contingent consideration on the acquisition date. The fair value of the contingent consideration is re-measured at each reporting period, and the change in fair value is recognized within “Other operating expense, net” in the Condensed Consolidated Statements of Operations. This fair value measurement of contingent consideration is categorized within Level 3 of the fair value hierarchy, as the measurement amount is based primarily on significant inputs that are not observable in the market. The following table provides a reconciliation of the activity for contingent consideration for the three and six month periods ended June 30, 2024 and 2023. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Balance at beginning of the period $ 48.4 $ 48.4 $ 42.2 $ 43.9 Acquisitions 50.2 12.8 56.7 12.8 Changes in fair value 0.3 4.1 0.5 8.4 Payments (0.2) (3.1) (0.2) (3.1) Foreign currency translation — 0.3 (0.5) 0.5 Balance at end of the period $ 98.7 $ 62.5 $ 98.7 $ 62.5 As of June 30, 2024, the contingent consideration included in “Accrued liabilities” and “Other liabilities” on the Condensed Consolidated Balance Sheets were $60.3 million and $38.4 million, respectively.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers Overview The Company recognizes revenue when the Company has satisfied its obligation and control is transferred to the customer. The amount of revenue recognized includes adjustments for any variable consideration, such as rebates, sales discounts, liquidated damages, etc., which are included in the transaction price, and allocated to each performance obligation. The variable consideration is estimated throughout the course of the contract using the Company’s best estimates. The majority of the Company’s revenues are derived from short duration contracts and revenue is recognized at a single point in time when control is transferred to the customer, generally at shipment or when delivery has occurred or services have been rendered. The Company has certain long duration engineered to order (“ETO”) contracts that require highly engineered solutions designed to customer specific applications. For contracts where the contractual deliverables have no alternative use and the contract termination clauses provide for the recovery of cost plus a reasonable margin, revenue is recognized over time based on the Company’s progress in satisfying the contractual performance obligations, generally measured as the ratio of actual costs incurred to date to the estimated total costs to complete the contract. For contracts with termination provisions that do not provide for recovery of cost and a reasonable margin, revenue is recognized at a point in time, generally at shipment or delivery to the customer. Identification of performance obligations, determination of alternative use, assessment of contractual language regarding termination provisions, and estimation of total project costs are all significant judgments required in the application of ASC 606. Contractual specifications and requirements may be modified. The Company considers contract modifications to exist when the modification either creates new or changes the existing enforceable rights and obligations. In the event a contract modification is for goods or services that are not distinct in the contract, and therefore, form part of a single performance obligation that is partially satisfied as of the modification date, the effect of the contract modification on the transaction price and the Company’s measure of progress for the performance obligation to which it relates, is recognized on a cumulative catch-up basis. Taxes assessed by a government authority that are both imposed on and concurrent with a specific revenue-producing transaction, that are collected by the Company from a customer, are excluded from revenue. Sales commissions are generally due at either collection of payment from customers or recognition of revenue. Applying the practical expedient from ASC 340-40-25-4, the Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less. These costs are included in “Selling and administrative expenses” in the Condensed Consolidated Statements of Operations. Disaggregation of Revenue The following tables provide disaggregated revenue by reportable segment for the three and six month periods ended June 30, 2024 and 2023. Industrial Technologies and Services Precision and Science Technologies Total Three Month Period Ended June 30, 2024 2023 2024 2023 2024 2023 Primary Geographic Markets United States $ 626.2 $ 556.8 $ 158.3 $ 140.8 $ 784.5 $ 697.6 Other Americas 109.6 88.0 17.8 7.1 127.4 95.1 Total Americas 735.8 644.8 176.1 147.9 911.9 792.7 EMEIA 461.2 428.5 119.9 113.9 581.1 542.4 Asia Pacific 269.5 305.1 42.8 46.3 312.3 351.4 Total $ 1,466.5 $ 1,378.4 $ 338.8 $ 308.1 $ 1,805.3 $ 1,686.5 Product Categories Original equipment (1) $ 897.6 $ 843.2 $ 265.2 $ 244.5 $ 1,162.8 $ 1,087.7 Aftermarket (2) 568.9 535.2 73.6 63.6 642.5 598.8 Total $ 1,466.5 $ 1,378.4 $ 338.8 $ 308.1 $ 1,805.3 $ 1,686.5 Pattern of Revenue Recognition Revenue recognized at point in time (3) $ 1,334.2 $ 1,266.2 $ 337.0 $ 306.1 $ 1,671.2 $ 1,572.3 Revenue recognized over time (4) 132.3 112.2 1.8 2.0 134.1 114.2 Total $ 1,466.5 $ 1,378.4 $ 338.8 $ 308.1 $ 1,805.3 $ 1,686.5 Industrial Technologies and Services Precision and Science Technologies Total Six Month Period Ended June 30, 2024 2023 2024 2023 2024 2023 Primary Geographic Markets United States $ 1,223.3 $ 1,108.0 $ 295.4 $ 285.0 $ 1,518.7 $ 1,393.0 Other Americas 222.3 178.9 25.9 14.4 248.2 193.3 Total Americas 1,445.6 1,286.9 321.3 299.4 1,766.9 1,586.3 EMEIA 906.6 854.5 233.6 227.3 1,140.2 1,081.8 Asia Pacific 487.7 554.2 80.6 93.5 568.3 647.7 Total $ 2,839.9 $ 2,695.6 $ 635.5 $ 620.2 $ 3,475.4 $ 3,315.8 Product Categories Original equipment (1) $ 1,724.7 $ 1,633.3 $ 490.2 $ 489.8 $ 2,214.9 $ 2,123.1 Aftermarket (2) 1,115.2 1,062.3 145.3 130.4 1,260.5 1,192.7 Total $ 2,839.9 $ 2,695.6 $ 635.5 $ 620.2 $ 3,475.4 $ 3,315.8 Pattern of Revenue Recognition Revenue recognized at point in time (3) $ 2,578.6 $ 2,486.7 $ 632.5 $ 617.3 $ 3,211.1 $ 3,104.0 Revenue recognized over time (4) 261.3 208.9 3.0 2.9 264.3 211.8 Total $ 2,839.9 $ 2,695.6 $ 635.5 $ 620.2 $ 3,475.4 $ 3,315.8 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. Service revenue represents less than 10% of consolidated revenue. (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 As of June 30, 2024, 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 $692.6 million in the next twelve months and $683.1 million in periods thereafter. The performance obligations that are unsatisfied (or partially satisfied) are primarily related to orders for goods or services that were placed prior to the end of the reporting period and have not been delivered to the customer, on-going work on ETO contracts where revenue is recognized over time and service contracts with an original duration greater than one year. Contract Balances The following table provides the contract balances as of June 30, 2024 and December 31, 2023 presented in the Condensed Consolidated Balance Sheets. June 30, 2024 December 31, 2023 Accounts receivable, net $ 1,301.4 $ 1,234.2 Contract assets 124.1 85.6 Contract liabilities - current 324.0 331.2 Contract liabilities - noncurrent 0.9 1.0

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The following table summarizes the Company’s provision for income taxes and effective income tax provision rate for the three and six month periods ended June 30, 2024 and 2023. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Income before income taxes $ 236.1 $ 238.9 $ 505.7 $ 449.9 Provision for income taxes $ 46.1 $ 60.5 $ 100.5 $ 108.6 Effective income tax provision rate 19.5 % 25.3 % 19.9 % 24.1 % The decrease in the provision for income taxes and decrease in the effective income tax provision rate for the three month period ended June 30, 2024 when compared to the same three month period of 2023 is primarily due to a decrease in the pretax book income in jurisdictions with higher effective tax rates combined with an increase in earnings in jurisdictions with lower tax rates and a benefit from a windfall tax deduction. The decrease in the provision for income taxes and decrease in the effective income tax provision rate for the six month period ended June 30, 2024 when compared to the same six month period of 2023 is primarily due to a decrease in the pretax book income in jurisdictions with higher effective tax rates combined with an increase in earnings in jurisdictions with lower tax rates and a benefit from a windfall tax deduction.

Other Operating Expense, Net

Other Operating Expense, Net	6 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Other Operating Expense, Net	Other Operating Expense, Net The components of “Other operating expense, net” for the three and six month periods ended June 30, 2024 and 2023 were as follows. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Foreign currency transaction gains, net $ — $ (1.1) $ (0.7) $ (0.1) Restructuring charges, net (1) 3.9 5.2 13.6 8.1 Acquisition and other transaction related expenses (2) 25.9 12.8 41.2 28.0 Loss on asbestos sale (3) 58.8 — 58.8 — Other, net (0.4) 2.9 0.5 4.2 Total other operating expense, net $ 88.2 $ 19.8 $ 113.4 $ 40.2 (1) See Note 3 “ Restructuring .” (2) Represents costs associated with successful and abandoned acquisitions, including third-party expenses and post-closure integration costs. (3) See Note 18 “ Contingencies .”

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies The Company is a party to various legal proceedings, lawsuits and administrative actions, which are of an ordinary or routine nature for a company of its size and sector. The Company believes that such proceedings, lawsuits and administrative actions will not materially adversely affect its operations, financial condition, liquidity or competitive position. For further description of the Company’s contingencies, reference is made to Note 21, “Contingencies” in the notes to consolidated financial statements in the Company’s 2023 Annual Report. Asbestos and Silica Related Litigation Prior to the divestiture described below, “Accrued liabilities” and “Other liabilities” of the Condensed Consolidated Balance Sheets included a total litigation reserve of $126.9 million as of December 31, 2023 with regards to potential liability arising from the Company’s asbestos-related litigation. The Company had an insurance recovery receivable for probable asbestos related recoveries of $157.7 million as of December 31, 2023, which was included in “Other assets” in the Condensed Consolidated Balance Sheets. On June 5, 2024, the Company entered into a Membership Interest Purchase Agreement (the “Purchase Agreement”) with Onyx TopCo LLC (the “Buyer”), a wholly owned subsidiary of Delticus Holdings LLC (“Delticus”), which is an entity owned by entities affiliated with Third Point LLC. Under the Purchase Agreement, the Company transferred 100% of the equity interests of three wholly-owned subsidiaries that hold asbestos liabilities and certain assets, including the related insurance assets, to the Buyer, effective as of June 10, 2024. In connection with the divestiture (the “Asbestos Portfolio Sale”), the divested entities were capitalized with a total of $188.5 million, including $143.5 million from insurance settlement proceeds, $35.0 million from affiliates of Delticus, and $10.0 million from Ingersoll Rand. As these subsidiaries were the obligors for the Company’s asbestos-related liabilities and policyholders of the related insurance assets, the rights and obligations related to these items transferred upon the sale. The divested subsidiaries have agreed to indemnify us and our affiliates for their asbestos-related liabilities, which encompassed all of our consolidated asbestos-related liabilities and contingent liabilities immediately prior to the sale. The Purchase Agreement contains customary representations and warranties with respect to the divested subsidiaries, the Company, and Delticus. Pursuant to the Purchase Agreement, the Company and Delticus will each indemnify the other for breaches of representation and warranties or breaches of covenants, subject to certain limitations as set forth in the agreement. In connection with the sale, the Company and its Board of Directors received a solvency opinion from an independent advisory firm that the divested entities were solvent and adequately capitalized immediately prior to, at the time of, and after giving effect to, the sale. Following the completion of the transfer, the Company no longer has any obligation with respect to pending and future asbestos claims. As such, the divested entities have been deconsolidated from the financial results of the Company as we no longer maintain control of the entities. Therefore, all associated assets and liabilities are no longer reported on the Consolidated Balance Sheet. The transaction resulted in a pre-tax loss of $58.8 million, recorded to “Other operating expense, net.” Additionally, the Company recorded a tax benefit as a result of the reversal of previously recorded net deferred tax liabilities of $7.6 million, resulting in an after-tax loss of $51.2 million recorded in the second quarter of 2024. The following table summarizes the impacts of the divestiture. Assets divested: Cash and cash equivalents $ 153.5 Insurance recovery receivable 13.9 Liabilities divested: Asbestos indemnity liability - current (12.3) Asbestos indemnity liability - noncurrent (111.4) Loss on Asbestos Sale, before transaction costs 43.7 Transaction costs 15.1 Loss on Asbestos Sale 58.8 Income tax benefit (7.6) Loss on Asbestos Sale, net of tax $ 51.2 Environmental Matters The Company has been identified as a potentially responsible party (“PRP”) with respect to several sites designated for cleanup under U.S. federal “Superfund” or similar state laws that impose liability for cleanup of certain waste sites and for related natural resource damages. The Company has undiscounted accrued liabilities of $18.2 million and $16.7 million as of June 30, 2024 and December 31, 2023, respectively, on its Condensed Consolidated Balance Sheets to the extent costs are known or can be reasonably estimated for its remaining financial obligations in relation to environmental matters and does not anticipate that any of these matters will result in material additional costs beyond amounts accrued. Based upon consideration of currently available information, the Company does not anticipate any material adverse effect on its results of operations, financial condition, liquidity or competitive position as a result of compliance with federal, state, local or foreign environmental laws or regulations, or cleanup costs relating to these matters.

Segment Results

Segment Results	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Results	Segment Results 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, powder containment and aftermarket parts for medical, laboratory, pharmaceutical and biopharmaceutical production, industrial manufacturing, water and wastewater, chemical processing, clean energy, food and beverage, agriculture, aerospace 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 Before Income Taxes for the three and six month periods ended June 30, 2024 and 2023. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Revenue Industrial Technologies and Services $ 1,466.5 $ 1,378.4 $ 2,839.9 $ 2,695.6 Precision and Science Technologies 338.8 308.1 635.5 620.2 Total Revenue $ 1,805.3 $ 1,686.5 $ 3,475.4 $ 3,315.8 Segment Adjusted EBITDA Industrial Technologies and Services $ 436.2 $ 377.5 $ 847.3 $ 723.1 Precision and Science Technologies 102.5 90.0 193.9 184.5 Total Segment Adjusted EBITDA $ 538.7 $ 467.5 $ 1,041.2 $ 907.6 Less items to reconcile Segment Adjusted EBITDA to Income Before Income Taxes: Corporate expenses not allocated to segments $ 44.1 $ 42.8 $ 88.1 $ 82.8 Interest expense 50.8 40.8 87.6 79.7 Depreciation and amortization expense (a) 115.8 111.0 232.1 224.1 Restructuring and related business transformation costs (b) 3.9 5.9 14.6 10.2 Acquisition and other transaction related expenses and non-cash charges (c) 27.7 13.8 43.0 31.8 Stock-based compensation 14.5 11.9 28.6 24.0 Foreign currency transaction gains, net — (1.1) (0.7) (0.1) Loss on extinguishment of debt 3.0 0.9 3.0 0.9 Adjustments to LIFO inventories 0.4 6.5 7.2 14.3 Cybersecurity incident costs (d) (0.1) 2.2 0.5 2.2 Loss on asbestos sale 58.8 — 58.8 — Interest income on cash and cash equivalents (16.3) (6.1) (27.7) (10.8) Other adjustments (e) — — 0.4 (1.4) Income Before Income Taxes 236.1 238.9 505.7 449.9 Provision for income taxes 46.1 60.5 100.5 108.6 Income (loss) on equity method investments (3.5) 2.4 (14.2) 2.7 Net Income $ 186.5 $ 180.8 $ 391.0 $ 344.0 a) Depreciation and amortization expense excludes $1.1 million and $0.8 million of depreciation of rental equipment for the three month periods ended June 30, 2024 and 2023, respectively, and excludes $2.0 million and $1.7 million for the six month periods ended June 30, 2024 and 2023, respectively. b) Restructuring and related business transformation costs consist of the following. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Restructuring charges $ 3.9 $ 5.2 $ 13.6 $ 8.1 Facility reorganization, relocation and other costs — 0.7 1.0 2.1 Total restructuring and related business transformation costs $ 3.9 $ 5.9 $ 14.6 $ 10.2 c) Represents costs associated with successful and abandoned acquisitions, including third-party expenses, post-closure integration costs and non-cash charges and credits arising from fair value purchase accounting adjustments. d) Represents non-recoverable costs associated with a cybersecurity event. e) Includes (i) pension and other postemployment plan costs other than service cost and (ii) other miscellaneous adjustments.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2024
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 are as follows. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Weighted-average shares outstanding - Basic 403.5 404.5 403.5 404.8 Dilutive effect of outstanding share-based compensation awards 3.9 3.8 4.2 4.0 Weighted-average shares outstanding - Diluted 407.4 408.3 407.7 408.8 For the three month periods ended June 30, 2024 and 2023, 0.6 million and 1.6 million, respectively, of anti-dilutive shares were not included in the computation of diluted earnings per share. For the six month periods ended June 30, 2024 and June 30, 2023, 0.4 million and 1.6 million of anti-dilutive shares were not included in the computation of diluted earnings per share, respectively.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income attributable to Ingersoll Rand Inc.	$ 185	$ 179.5	$ 387.2	$ 340.6

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Rec_2

Basis of Presentation and Recent Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Ingersoll Rand Inc. is a global provider of mission-critical flow creation products and life science and industrial solutions. The accompanying condensed consolidated financial statements include the accounts of Ingersoll Rand Inc. and its majority-owned subsidiaries (collectively referred to herein as “Ingersoll Rand” or the “Company”). The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial reporting, the instructions for Form 10-Q and Article 10 of the U.S. Securities and Exchange Commission (“SEC”) Regulation S-X. In the Company’s opinion, the condensed consolidated financial statements reflect all adjustments of a normal recurring nature necessary for a fair statement of the results for the interim periods presented. The condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2023 (“2023 Annual Report”). The results of operations for the three month period ended June 30, 2024 are not necessarily indicative of future results.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standard Update (“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.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the allocation of consideration for all businesses acquired in 2024 to the fair values of identifiable assets acquired and liabilities assumed at the acquisition dates. Initial accounting for these acquisitions is preliminary, and amounts assigned to acquired assets and liabilities assumed are subject to change as information necessary to complete the analysis is obtained. ILC Dover Friulair All Others Total Accounts receivable $ 41.7 $ 14.2 $ 22.3 $ 78.2 Inventories 86.1 13.2 25.6 124.9 Other current assets 48.8 0.5 2.8 52.1 Property, plant and equipment 78.3 7.2 13.7 99.2 Goodwill 1,417.0 67.1 179.9 1,664.0 Other intangible assets 947.7 84.5 32.2 1,064.4 Other assets 16.3 — 5.7 22.0 Total current liabilities (32.8) (11.0) (22.9) (66.7) Deferred tax liabilities (174.4) (24.2) (1.5) (200.1) Other noncurrent liabilities (18.5) (2.8) (5.3) (26.6) Total consideration $ 2,410.2 $ 148.7 $ 252.5 $ 2,811.4 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 other acquisitions completed in 2023 is substantially complete. Air Treatment Roots All Others Total Accounts receivable $ 26.1 $ 14.5 $ 11.7 $ 52.3 Inventories 43.9 34.2 21.0 99.1 Other current assets 2.1 2.9 6.2 11.2 Property, plant and equipment 18.4 42.0 5.0 65.4 Goodwill 279.9 105.6 126.7 512.2 Other intangible assets 238.6 116.9 25.4 380.9 Other assets 7.6 3.1 0.4 11.1 Total current liabilities (35.9) (26.9) (19.5) (82.3) Deferred tax liabilities (54.8) — (3.9) (58.7) Other noncurrent liabilities (6.9) (2.3) (4.5) (13.7) Total consideration $ 519.0 $ 290.0 $ 168.5 $ 977.5

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Activity in Restructuring Programs	For the three and six month periods ended June 30, 2024 and 2023, “Restructuring charges, net” were recognized within “Other operating expense, net” in the Condensed Consolidated Statements of Operations and consisted of the following. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Industrial Technologies and Services $ 3.1 $ 3.8 $ 8.2 $ 6.9 Precision and Science Technologies 0.6 1.4 5.0 1.0 Corporate 0.2 — 0.4 0.2 Restructuring charges, net $ 3.9 $ 5.2 $ 13.6 $ 8.1 The following table summarizes the activity associated with the Company’s restructuring programs for the three and six month periods ended June 30, 2024 and 2023. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Balance at beginning of period $ 20.6 $ 13.4 $ 15.5 $ 14.9 Charged to expense - termination benefits 3.4 2.4 12.7 3.3 Charged to expense - other (1) 0.5 1.8 0.9 2.9 Payments (8.9) (7.2) (13.2) (10.8) Currency translation adjustment and other — 0.1 (0.3) 0.2 Balance at end of period $ 15.6 $ 10.5 $ 15.6 $ 10.5 (1) Excludes $1.0 million and $1.9 million of non-cash charges that impacted restructuring expense but not the restructuring liabilities during the three and six month periods ended June 30, 2023, respectively.

Allowance for Credit Losses (Ta

Allowance for Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	The allowance for credit losses for the three and six month periods ended June 30, 2024 and 2023 consisted of the following. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Balance at beginning of the period $ 55.3 $ 51.0 $ 53.8 $ 47.2 Provision charged to expense 1.8 2.2 4.3 6.2 Write-offs, net of recoveries (0.6) (1.3) (0.9) (1.7) Foreign currency translation and other 0.4 (0.7) (0.3) (0.5) Balance at end of the period $ 56.9 $ 51.2 $ 56.9 $ 51.2

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories as of June 30, 2024 and December 31, 2023 consisted of the following. June 30, 2024 December 31, 2023 Raw materials, including parts and subassemblies $ 714.7 $ 590.7 Work-in-process 129.9 145.1 Finished goods 395.1 337.8 1,239.7 1,073.6 LIFO reserve (79.7) (72.5) Inventories $ 1,160.0 $ 1,001.1

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill by Segment	The changes in the carrying amount of goodwill attributable to each reportable segment for the six month period ended June 30, 2024 is presented in the table below. Industrial Technologies and Services Precision and Science Technologies Total Balance at beginning of period $ 4,753.5 $ 1,856.2 $ 6,609.7 Acquisitions 178.3 1,485.7 1,664.0 Foreign currency translation and other (1) (36.4) (20.2) (56.6) Balance at end of period $ 4,895.4 $ 3,321.7 $ 8,217.1 (1) Includes measurement period adjustments
Schedule of Other Intangible Assets	Other intangible assets as of June 30, 2024 and December 31, 2023 consisted of the following. June 30, 2024 December 31, 2023 Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Amortized intangible assets Customer lists and relationships $ 4,006.0 $ (1,709.8) $ 2,296.2 $ 3,279.3 $ (1,585.4) $ 1,693.9 Technology 527.5 (210.0) 317.5 413.8 (178.9) 234.9 Tradenames 59.8 (30.0) 29.8 52.2 (27.9) 24.3 Backlog 4.4 (3.0) 1.4 3.0 (1.3) 1.7 Other 127.5 (108.2) 19.3 117.1 (104.1) 13.0 Unamortized intangible assets Tradenames 1,814.0 — 1,814.0 1,643.3 — 1,643.3 Total other intangible assets $ 6,539.2 $ (2,061.0) $ 4,478.2 $ 5,508.7 $ (1,897.6) $ 3,611.1

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Payables and Accruals [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities as of June 30, 2024 and December 31, 2023 consisted of the following. June 30, 2024 December 31, 2023 Salaries, wages and related fringe benefits $ 199.8 $ 262.4 Contract liabilities 324.0 331.2 Product warranty 72.3 61.9 Operating lease liabilities 47.1 41.6 Restructuring 15.6 15.5 Taxes 58.0 78.4 Accrued interest 55.8 33.1 Other 239.0 171.4 Total accrued liabilities $ 1,011.6 $ 995.5
Schedule of Product Warranty Liability	A reconciliation of the changes in the accrued product warranty liability for the three and six month periods ended June 30, 2024 and 2023 are as follows. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Balance at beginning of period $ 65.6 $ 54.1 $ 61.9 $ 46.2 Product warranty accruals 12.7 15.8 26.3 24.7 Acquired warranty 0.7 — 0.7 1.4 Settlements (6.5) (11.0) (15.8) (14.9) Foreign currency translation and other (0.2) (1.5) (0.8) — Balance at end of period $ 72.3 $ 57.4 $ 72.3 $ 57.4

Benefit Plans (Tables)

Benefit Plans (Tables)	6 Months Ended
	Jun. 30, 2024
Retirement Benefits [Abstract]
Schedule of Net Periodic Benefit Cost	The following table summarizes the components of net periodic benefit cost for the Company’s defined benefit pension plans and other postretirement benefit plans recognized for the three and six month periods ended June 30, 2024 and 2023. Pension Benefits Other Postretirement Benefits U.S. Plans Non-U.S. Plans For the Three Month Period Ended June 30, 2024 2023 2024 2023 2024 2023 Service cost $ — $ — $ 0.7 $ 0.6 $ — $ — Interest cost 3.5 3.9 2.6 2.8 0.2 0.3 Expected return on plan assets (3.3) (3.4) (2.7) (2.7) — — Recognition of: Unrecognized prior service cost — — 0.1 0.1 — — Unrecognized net actuarial loss 0.1 0.1 (0.4) (0.5) (0.2) (0.2) 0.3 0.6 0.3 0.3 — 0.1 Gain on settlement — (0.6) — — — — $ 0.3 $ — $ 0.3 $ 0.3 $ — $ 0.1 Pension Benefits Other Postretirement Benefits U.S. Plans Non-U.S. Plans For the Six Month Period Ended June 30, 2024 2023 2024 2023 2024 2023 Service cost $ — $ — $ 1.4 $ 1.2 $ — $ — Interest cost 7.0 7.9 5.3 5.5 0.4 0.5 Expected return on plan assets (6.6) (6.7) (5.5) (5.4) — — Recognition of: Unrecognized prior service cost — — 0.1 0.1 — — Unrecognized net actuarial loss 0.1 0.1 (0.7) (0.9) (0.4) (0.3) 0.5 1.3 0.6 0.5 — 0.2 Gain on settlement — (0.6) — — — — $ 0.5 $ 0.7 $ 0.6 $ 0.5 $ — $ 0.2

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Debt as of June 30, 2024 and December 31, 2023 is summarized as follows. June 30, 2024 December 31, 2023 Short-term borrowings $ 3.1 $ 1.0 Long-term debt: Dollar Term Loan B, due February 2027 (1)(2) — 347.7 Dollar Term Loan, due February 2027 (1)(2) — 892.3 5.197% Senior Notes, due June 2027 (1) 699.9 — 5.400% Senior Notes, due August 2028 (1) 498.4 498.2 5.176% Senior Notes, due June 2029 (1) 750.0 — 5.314% Senior Notes, due June 2031 (1) 500.0 — 5.700% Senior Notes, due August 2033 (1) 993.0 992.6 5.450% Senior Notes, due June 2034 (1) 749.5 — 5.700% Senior Notes, due June 2054 (1) 597.6 — Finance leases and other long-term debt 14.6 15.2 Swap valuation adjustments (3) — — Unamortized debt issuance costs (50.7) (23.4) Total long-term debt, net, including current maturities 4,752.3 2,722.6 Current maturities of long-term debt 1.4 29.6 Total long-term debt, net $ 4,750.9 $ 2,693.0 (1) This amount is net of unamortized discounts. Total unamortized discounts were $11.6 million and $9.9 million as of June 30, 2024 and December 31, 2023, respectively. (2) The weighted-average interest rate was 7.18% for the six month period ended June 30, 2024. (3) As of June 30, 2024, the swap valuation adjustments on our interest rate swaps designated as fair value hedges were immaterial.

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	A summary of the Company’s stock option (including SARs) activity for the six month period ended June 30, 2024 is presented in the following table (underlying shares in thousands). Shares Weighted-Average Exercise Price (per share) Stock options outstanding as of December 31, 2023 5,282 $ 31.09 Granted 525 90.35 Exercised or settled (1,287) 17.62 Forfeited (40) 58.96 Expired (2) 31.29 Stock options outstanding as of June 30, 2024 4,478 41.66 Vested as of June 30, 2024 2,994 29.03
Schedule of Stock Option Fair Value Assumptions	The following assumptions were used to estimate the fair value of options granted during the six month periods ended June 30, 2024 and 2023 using the Black-Scholes option-pricing model. For the Six Month Period Ended June 30, Assumptions 2024 2023 Expected life of options (in years) 6.3 - 7.5 6.3 - 7.5 Risk-free interest rate 4.2% - 4.3% 3.8% - 4.1% Assumed volatility 35.1% - 35.2% 36.4% - 36.6% Expected dividend rate 0.1 % 0.1 %
Schedule of Restricted Stock Unit Activity	A summary of the Company’s restricted stock unit activity for the six month period ended June 30, 2024 is presented in the following table (underlying shares in thousands). Shares Weighted-Average Grant-Date Fair Value Non-vested as of December 31, 2023 957 $ 52.18 Granted 321 89.86 Vested (397) 47.64 Forfeited (43) 62.10 Non-vested as of June 30, 2024 838 68.24
Schedule of Performance Stock Unit Activity	A summary of the Company’s performance stock unit activity for the six month period ended June 30, 2024 is presented in the following table (underlying shares in thousands). Shares Weighted-Average Grant-Date Fair Value Non-vested as of December 31, 2023 1,380 $ 49.53 Granted 87 132.98 Change in units based on performance 122 55.84 Vested (244) 55.84 Forfeited (6) 71.81 Non-vested as of June 30, 2024 1,339 54.28
Schedule of Performance Share Units Fair Value Assumptions	The following assumptions were used to estimate the fair value of performance share units granted during the six month periods ended June 30, 2024 and 2023 using the Monte Carlo simulation pricing model. For the Six Month Period Ended June 30, Assumptions 2024 2023 Expected term (in years) 2.8 2.9 Risk-free interest rate 4.5% 4.4 % Assumed volatility 28.9% 31.8 % Expected dividend rate 0.1 % 0.1 %

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2024
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Before Tax Income (Loss) and Related Income Tax Effect	The before tax income (loss) and related income tax effect are as follows. For the Three Month Period Ended June 30, 2024 2023 Before-Tax Amount Tax Benefit (Expense) Net of Tax Amount Before-Tax Amount Tax Benefit (Expense) Net of Tax Amount Foreign currency translation adjustments, net $ (26.5) $ (7.5) $ (34.0) $ (46.6) $ — $ (46.6) Unrecognized gains (losses) on cash flow hedges (7.1) 5.0 (2.1) 14.6 (3.7) 10.9 Pension and other postretirement benefit prior service cost and gain or loss, net (1.8) 0.4 (1.4) (1.5) 0.4 (1.1) Other comprehensive loss $ (35.4) $ (2.1) $ (37.5) $ (33.5) $ (3.3) $ (36.8) For the Six Month Period Ended June 30, 2024 2023 Before-Tax Amount Tax Benefit (Expense) Net of Tax Amount Before-Tax Amount Tax Benefit (Expense) Net of Tax Amount Foreign currency translation adjustments, net $ (93.9) $ (13.6) $ (107.5) $ (0.4) $ (15.4) $ (15.8) Unrecognized gains (losses) on cash flow hedges (7.2) 5.0 (2.2) 7.5 (1.9) 5.6 Pension and other postretirement benefit prior service cost and gain or loss, net (3.7) 0.9 (2.8) (1.7) 0.4 (1.3) Other comprehensive loss $ (104.8) $ (7.7) $ (112.5) $ 5.4 $ (16.9) $ (11.5)
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	Changes in accumulated other comprehensive loss by component for the six month periods ended June 30, 2024 and 2023 are presented in the following table, net of tax. Foreign Currency Translation Adjustments, Net Cash Flow Hedges Pension and Other Postretirement Benefit Plans Total Balance as of December 31, 2023 $ (248.0) $ 12.2 $ 8.2 $ (227.6) Other comprehensive income (loss) before reclassifications (101.1) 4.4 (2.1) (98.8) Amounts reclassified from accumulated other comprehensive loss (6.4) (6.6) (0.7) (13.7) Other comprehensive loss (107.5) (2.2) (2.8) (112.5) Balance as of June 30, 2024 $ (355.5) $ 10.0 $ 5.4 $ (340.1) Foreign Currency Translation Adjustments, Net Cash Flow Hedges Pension and Other Postretirement Benefit Plans Total Balance as of December 31, 2022 $ (282.8) $ 16.0 $ 15.1 $ (251.7) Other comprehensive income (loss) before reclassifications (8.2) 10.1 (0.1) 1.8 Amounts reclassified from accumulated other comprehensive loss (7.6) (4.5) (1.2) (13.3) Other comprehensive income (loss) (15.8) 5.6 (1.3) (11.5) Balance as of June 30, 2023 $ (298.6) $ 21.6 $ 13.8 $ (263.2)
Schedule of Reclassification out of Accumulated Other Comprehensive Loss	Reclassifications out of accumulated other comprehensive loss for the six month periods ended June 30, 2024 and 2023 are presented in the following table. Amount Reclassified from Accumulated Other Comprehensive Loss Details about Accumulated Other Comprehensive Loss Components For the Six Month Period Ended June 30, Affected Line(s) in the Statement Where Net Income is Presented 2024 2023 Cash flow hedges (interest rate swaps and caps) $ (8.8) $ (6.0) Interest expense Provision for income taxes 2.2 1.5 Provision for income taxes Cash flow hedges (interest rate swaps and caps), net of tax $ (6.6) $ (4.5) Net investment hedges $ (8.5) $ (10.2) Interest expense Provision for income taxes 2.1 2.6 Provision for income taxes Net investment hedges, net of tax $ (6.4) $ (7.6) Amortization of defined benefit pension and other postretirement benefit items (1) $ (0.9) $ (1.6) Cost of sales and Selling and administrative expenses Provision for income taxes 0.2 0.4 Provision for income taxes Amortization of defined benefit pension and other postretirement benefit items, net of tax $ (0.7) $ (1.2) Total reclassifications for the period, net of tax $ (13.7) $ (13.3) (1) These components are included in the computation of net periodic benefit cost. See Note 9 “ Benefit Plans ” for additional details.

Hedging Activities and Deriva_2

Hedging Activities and Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The following table summarizes the notional amounts, fair values and classification of the Company’s outstanding derivatives by risk category and instrument type within the Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023. June 30, 2024 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 Fair Value $ 750.0 $ — $ 7.0 $ 7.0 $ — Cross-currency interest rate swap contracts Net investment 1,074.3 10.6 0.6 — 3.3 Derivatives Not Designated as Hedging Instruments Foreign currency forwards Fair value $ 60.0 $ — $ — $ — $ — Foreign currency forwards Fair value 73.5 — — — 1.4 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 (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 Long Term Hedge	June 30, 2024 December 31, 2023 Long-term debt: Carrying amount of hedged debt $ 750.0 $ — Cumulative hedging adjustments, included in carrying amount (1) — — (1) As of June 30, 2024, the swap valuation adjustments on our interest rate swaps designated as fair value hedges were immaterial.
Schedule of Cash Flow Hedges included in Accumulated Other Comprehensive Income (Loss)	Gains (losses) on derivatives designated as cash flow hedges included in the Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six month periods ended June 30, 2024 and 2023 are as presented in the table below. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Gain (loss) recognized in OCI on derivatives $ (3.0) $ 18.6 $ 1.6 $ 13.5 Gain reclassified from AOCI into income (effective portion) (1) 4.1 4.0 8.8 6.0 (1) Gains on derivatives reclassified from AOCI into income were included within “Interest expense” in the Condensed Consolidated Statements of Operations.
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)	Gains (losses) on derivatives designated as net investment hedges included in the Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and six month periods ended June 30, 2024 and 2023 are as presented in the table below. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Gain (loss) recognized in OCI on derivatives $ 15.1 $ (6.6) $ 43.7 $ (12.1) Gain reclassified from AOCI into income (effective portion) (1) 4.3 4.8 8.5 10.2 (1) Gains on derivatives reclassified from AOCI into income were included within “Interest expense” in the Condensed Consolidated Statements of Operations.
Schedule of Gains (Losses) on Derivative Instruments Not Designated as Accounting Hedges and Total Net Foreign Currency Losses	The Company’s gains (losses) on derivative instruments not designated as accounting hedges and total net foreign currency gains for the three and six month periods ended June 30, 2024 and 2023 were as follows. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Foreign currency forward contracts gains (losses) $ (2.0) $ — $ (2.0) $ 0.2 Total foreign currency transaction gains, net — 1.1 0.7 0.1

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables summarize the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023. June 30, 2024 Level 1 Level 2 Level 3 Total Financial Assets Trading securities held in deferred compensation plan (1) $ 19.1 $ — $ — $ 19.1 Interest rate swaps (2) — 7.0 — 7.0 Cross-currency interest rate swaps (3) — 11.2 — 11.2 Foreign currency forwards (4) — — — — Total $ 19.1 $ 18.2 $ — $ 37.3 Financial Liabilities Deferred compensation plans (1) $ 26.5 $ — $ — $ 26.5 Interest rate swaps (2) — 7.0 — 7.0 Cross-currency interest rate swaps (3) — 3.3 — 3.3 Contingent consideration (5) — — 98.7 98.7 Foreign currency forwards (4) — 1.4 — 1.4 Total $ 26.5 $ 11.7 $ 98.7 $ 136.9 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 (1) Based on the quoted price of publicly traded mutual funds and other equity securities which are classified as trading securities and accounted for using the mark-to-market method. (2) Measured as the present value of all expected future cash flows based on the SOFR-based swap yield curves as of the end of the period. 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.
Schedule of Reconciliation of Contingent Consideration	The following table provides a reconciliation of the activity for contingent consideration for the three and six month periods ended June 30, 2024 and 2023. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Balance at beginning of the period $ 48.4 $ 48.4 $ 42.2 $ 43.9 Acquisitions 50.2 12.8 56.7 12.8 Changes in fair value 0.3 4.1 0.5 8.4 Payments (0.2) (3.1) (0.2) (3.1) Foreign currency translation — 0.3 (0.5) 0.5 Balance at end of the period $ 98.7 $ 62.5 $ 98.7 $ 62.5

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue by Segment	The following tables provide disaggregated revenue by reportable segment for the three and six month periods ended June 30, 2024 and 2023. Industrial Technologies and Services Precision and Science Technologies Total Three Month Period Ended June 30, 2024 2023 2024 2023 2024 2023 Primary Geographic Markets United States $ 626.2 $ 556.8 $ 158.3 $ 140.8 $ 784.5 $ 697.6 Other Americas 109.6 88.0 17.8 7.1 127.4 95.1 Total Americas 735.8 644.8 176.1 147.9 911.9 792.7 EMEIA 461.2 428.5 119.9 113.9 581.1 542.4 Asia Pacific 269.5 305.1 42.8 46.3 312.3 351.4 Total $ 1,466.5 $ 1,378.4 $ 338.8 $ 308.1 $ 1,805.3 $ 1,686.5 Product Categories Original equipment (1) $ 897.6 $ 843.2 $ 265.2 $ 244.5 $ 1,162.8 $ 1,087.7 Aftermarket (2) 568.9 535.2 73.6 63.6 642.5 598.8 Total $ 1,466.5 $ 1,378.4 $ 338.8 $ 308.1 $ 1,805.3 $ 1,686.5 Pattern of Revenue Recognition Revenue recognized at point in time (3) $ 1,334.2 $ 1,266.2 $ 337.0 $ 306.1 $ 1,671.2 $ 1,572.3 Revenue recognized over time (4) 132.3 112.2 1.8 2.0 134.1 114.2 Total $ 1,466.5 $ 1,378.4 $ 338.8 $ 308.1 $ 1,805.3 $ 1,686.5 Industrial Technologies and Services Precision and Science Technologies Total Six Month Period Ended June 30, 2024 2023 2024 2023 2024 2023 Primary Geographic Markets United States $ 1,223.3 $ 1,108.0 $ 295.4 $ 285.0 $ 1,518.7 $ 1,393.0 Other Americas 222.3 178.9 25.9 14.4 248.2 193.3 Total Americas 1,445.6 1,286.9 321.3 299.4 1,766.9 1,586.3 EMEIA 906.6 854.5 233.6 227.3 1,140.2 1,081.8 Asia Pacific 487.7 554.2 80.6 93.5 568.3 647.7 Total $ 2,839.9 $ 2,695.6 $ 635.5 $ 620.2 $ 3,475.4 $ 3,315.8 Product Categories Original equipment (1) $ 1,724.7 $ 1,633.3 $ 490.2 $ 489.8 $ 2,214.9 $ 2,123.1 Aftermarket (2) 1,115.2 1,062.3 145.3 130.4 1,260.5 1,192.7 Total $ 2,839.9 $ 2,695.6 $ 635.5 $ 620.2 $ 3,475.4 $ 3,315.8 Pattern of Revenue Recognition Revenue recognized at point in time (3) $ 2,578.6 $ 2,486.7 $ 632.5 $ 617.3 $ 3,211.1 $ 3,104.0 Revenue recognized over time (4) 261.3 208.9 3.0 2.9 264.3 211.8 Total $ 2,839.9 $ 2,695.6 $ 635.5 $ 620.2 $ 3,475.4 $ 3,315.8 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. Service revenue represents less than 10% of consolidated revenue. (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 June 30, 2024 and December 31, 2023 presented in the Condensed Consolidated Balance Sheets. June 30, 2024 December 31, 2023 Accounts receivable, net $ 1,301.4 $ 1,234.2 Contract assets 124.1 85.6 Contract liabilities - current 324.0 331.2 Contract liabilities - noncurrent 0.9 1.0

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Schedule of Provision for Income Taxes and Effective Income Tax Rate	The following table summarizes the Company’s provision for income taxes and effective income tax provision rate for the three and six month periods ended June 30, 2024 and 2023. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Income before income taxes $ 236.1 $ 238.9 $ 505.7 $ 449.9 Provision for income taxes $ 46.1 $ 60.5 $ 100.5 $ 108.6 Effective income tax provision rate 19.5 % 25.3 % 19.9 % 24.1 %

Other Operating Expense, Net (T

Other Operating Expense, Net (Tables)	6 Months Ended
	Jun. 30, 2024
Other Income and Expenses [Abstract]
Schedule of Other Operating Expense, Net	The components of “Other operating expense, net” for the three and six month periods ended June 30, 2024 and 2023 were as follows. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Foreign currency transaction gains, net $ — $ (1.1) $ (0.7) $ (0.1) Restructuring charges, net (1) 3.9 5.2 13.6 8.1 Acquisition and other transaction related expenses (2) 25.9 12.8 41.2 28.0 Loss on asbestos sale (3) 58.8 — 58.8 — Other, net (0.4) 2.9 0.5 4.2 Total other operating expense, net $ 88.2 $ 19.8 $ 113.4 $ 40.2 (1) See Note 3 “ Restructuring .” (2) Represents costs associated with successful and abandoned acquisitions, including third-party expenses and post-closure integration costs. (3) See Note 18 “ Contingencies .”

Contingencies (Tables)

Contingencies (Tables)	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Schedule of Discontinued Operations	The following table summarizes the impacts of the divestiture. Assets divested: Cash and cash equivalents $ 153.5 Insurance recovery receivable 13.9 Liabilities divested: Asbestos indemnity liability - current (12.3) Asbestos indemnity liability - noncurrent (111.4) Loss on Asbestos Sale, before transaction costs 43.7 Transaction costs 15.1 Loss on Asbestos Sale 58.8 Income tax benefit (7.6) Loss on Asbestos Sale, net of tax $ 51.2

Segment Results (Tables)

Segment Results (Tables)	6 Months Ended
	Jun. 30, 2024
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 Before Income Taxes for the three and six month periods ended June 30, 2024 and 2023. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Revenue Industrial Technologies and Services $ 1,466.5 $ 1,378.4 $ 2,839.9 $ 2,695.6 Precision and Science Technologies 338.8 308.1 635.5 620.2 Total Revenue $ 1,805.3 $ 1,686.5 $ 3,475.4 $ 3,315.8 Segment Adjusted EBITDA Industrial Technologies and Services $ 436.2 $ 377.5 $ 847.3 $ 723.1 Precision and Science Technologies 102.5 90.0 193.9 184.5 Total Segment Adjusted EBITDA $ 538.7 $ 467.5 $ 1,041.2 $ 907.6 Less items to reconcile Segment Adjusted EBITDA to Income Before Income Taxes: Corporate expenses not allocated to segments $ 44.1 $ 42.8 $ 88.1 $ 82.8 Interest expense 50.8 40.8 87.6 79.7 Depreciation and amortization expense (a) 115.8 111.0 232.1 224.1 Restructuring and related business transformation costs (b) 3.9 5.9 14.6 10.2 Acquisition and other transaction related expenses and non-cash charges (c) 27.7 13.8 43.0 31.8 Stock-based compensation 14.5 11.9 28.6 24.0 Foreign currency transaction gains, net — (1.1) (0.7) (0.1) Loss on extinguishment of debt 3.0 0.9 3.0 0.9 Adjustments to LIFO inventories 0.4 6.5 7.2 14.3 Cybersecurity incident costs (d) (0.1) 2.2 0.5 2.2 Loss on asbestos sale 58.8 — 58.8 — Interest income on cash and cash equivalents (16.3) (6.1) (27.7) (10.8) Other adjustments (e) — — 0.4 (1.4) Income Before Income Taxes 236.1 238.9 505.7 449.9 Provision for income taxes 46.1 60.5 100.5 108.6 Income (loss) on equity method investments (3.5) 2.4 (14.2) 2.7 Net Income $ 186.5 $ 180.8 $ 391.0 $ 344.0 a) Depreciation and amortization expense excludes $1.1 million and $0.8 million of depreciation of rental equipment for the three month periods ended June 30, 2024 and 2023, respectively, and excludes $2.0 million and $1.7 million for the six month periods ended June 30, 2024 and 2023, respectively. b) Restructuring and related business transformation costs consist of the following. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Restructuring charges $ 3.9 $ 5.2 $ 13.6 $ 8.1 Facility reorganization, relocation and other costs — 0.7 1.0 2.1 Total restructuring and related business transformation costs $ 3.9 $ 5.9 $ 14.6 $ 10.2 c) Represents costs associated with successful and abandoned acquisitions, including third-party expenses, post-closure integration costs and non-cash charges and credits arising from fair value purchase accounting adjustments. d) Represents non-recoverable costs associated with a cybersecurity event. e) Includes (i) pension and other postemployment plan costs other than service cost and (ii) other miscellaneous adjustments.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Basic and Diluted Earnings Per Share	The number of weighted-average shares outstanding used in the computations of basic and diluted earnings per share are as follows. For the Three Month Period Ended June 30, For the Six Month Period Ended June 30, 2024 2023 2024 2023 Weighted-average shares outstanding - Basic 403.5 404.5 403.5 404.8 Dilutive effect of outstanding share-based compensation awards 3.9 3.8 4.2 4.0 Weighted-average shares outstanding - Diluted 407.4 408.3 407.7 408.8

Basis of Presentation and Rec_3

Basis of Presentation and Recent Accounting Pronouncements (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Loss Contingencies [Line Items]
Pre tax loss amount	$ (236.1)	$ (238.9)	$ (505.7)	$ (449.9)
Asbestos and Silica Related Litigation
Loss Contingencies [Line Items]
Pre tax loss amount			$ 58.8

Acquisitions - Narrative (Detai

Acquisitions - Narrative (Details) $ in Millions

3 Months Ended

6 Months Ended

12 Months Ended

Jun. 03, 2024 USD ($)

Jun. 01, 2024 USD ($)

May 31, 2024 USD ($)

May 01, 2024 USD ($)

Apr. 02, 2024 USD ($)

Apr. 01, 2024 USD ($)

Feb. 01, 2024 USD ($)

Aug. 18, 2023 USD ($)

Apr. 01, 2023 USD ($)

Feb. 01, 2023 USD ($)

Jan. 03, 2023 USD ($)

Jun. 30, 2024 USD ($)

Jun. 30, 2023 USD ($)

Jun. 30, 2024 USD ($)

Jun. 30, 2023 USD ($)

Dec. 31, 2023 USD ($) business

Friulair

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 142.2

Contingent consideration

11

Expected tax deductible amount of goodwill acquired

$ 0

Fluidics

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 49.9

Contingent consideration

$ 2

Ethafilter s.r.l.

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 15.6

Air Systems, LLC

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 35.2

CAPS

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 96.7

Fruitland

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 28.3

Del Pumps

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 25.2

ILC Dover

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 2,360.2

Contingent consideration

75

Expected tax deductible amount of goodwill acquired

$ 0

All Others

Business Acquisition [Line Items]

Purchase consideration

$ 1.3

$ 84

Number of businesses acquired | business

10

Acquisitions In 2024

Business Acquisition [Line Items]

Revenue from acquisition date

$ 64.5

75.8

Net income (loss) from acquisition date

6.1

6.6

Air Treatment

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 519

Expected tax deductible amount of goodwill acquired

0

0

Paragon Tank Truck Equipment

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 42.2

EcoPlant Technological Innovation Ltd

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 29.5

Contingent consideration

$ 17

Roots

Business Acquisition [Line Items]

Cash consideration for acquisition

$ 290

Acquisitions In 2023

Business Acquisition [Line Items]

Revenue from acquisition date

110.5

$ 60.6

206.1

$ 109

Net income (loss) from acquisition date

$ 16.7

$ 3.7

$ 28.2

$ 6.9

Acquisitions - Schedule of Busi

Acquisitions - Schedule of Business Acquisitions by Acquisition, Consideration (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Goodwill	$ 8,217.1	$ 6,609.7
Acquisitions In 2024
Business Acquisition [Line Items]
Accounts receivable	78.2
Inventories	124.9
Other current assets	52.1
Property, plant and equipment	99.2
Goodwill	1,664
Other intangible assets	1,064.4
Other assets	22
Total current liabilities	(66.7)
Deferred tax liabilities	(200.1)
Other noncurrent liabilities	(26.6)
Total consideration	2,811.4
ILC Dover
Business Acquisition [Line Items]
Accounts receivable	41.7
Inventories	86.1
Other current assets	48.8
Property, plant and equipment	78.3
Goodwill	1,417
Other intangible assets	947.7
Other assets	16.3
Total current liabilities	(32.8)
Deferred tax liabilities	(174.4)
Other noncurrent liabilities	(18.5)
Total consideration	2,410.2
Friulair
Business Acquisition [Line Items]
Accounts receivable	14.2
Inventories	13.2
Other current assets	0.5
Property, plant and equipment	7.2
Goodwill	67.1
Other intangible assets	84.5
Other assets	0
Total current liabilities	(11)
Deferred tax liabilities	(24.2)
Other noncurrent liabilities	(2.8)
Total consideration	148.7
All Others
Business Acquisition [Line Items]
Accounts receivable	22.3	11.7
Inventories	25.6	21
Other current assets	2.8	6.2
Property, plant and equipment	13.7	5
Goodwill	179.9	126.7
Other intangible assets	32.2	25.4
Other assets	5.7	0.4
Total current liabilities	(22.9)	(19.5)
Deferred tax liabilities	(1.5)	(3.9)
Other noncurrent liabilities	(5.3)	(4.5)
Total consideration	$ 252.5	168.5
Acquisitions In 2023
Business Acquisition [Line Items]
Accounts receivable		52.3
Inventories		99.1
Other current assets		11.2
Property, plant and equipment		65.4
Goodwill		512.2
Other intangible assets		380.9
Other assets		11.1
Total current liabilities		(82.3)
Deferred tax liabilities		(58.7)
Other noncurrent liabilities		(13.7)
Total consideration		977.5
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 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
Goodwill		105.6
Other intangible assets		116.9
Other assets		3.1
Total current liabilities		(26.9)
Deferred tax liabilities		0
Other noncurrent liabilities		(2.3)
Total consideration		$ 290

Restructuring - Schedule of Res

Restructuring - Schedule of Restructuring Charges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 3.9	$ 5.2	$ 13.6	$ 8.1
Restructuring Program 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3.9	5.2	13.6	8.1
Restructuring Program 2020 | Corporate
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0.2	0	0.4	0.2
Restructuring Program 2020 | Industrial Technologies and Services
Restructuring Cost and Reserve [Line Items]
Restructuring charges	3.1	3.8	8.2	6.9
Restructuring Program 2020 | Precision and Science Technologies
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 0.6	$ 1.4	$ 5	$ 1

Restructuring - Schedule of Act

Restructuring - Schedule of Activity in Restructuring Programs (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Restructuring Reserve [Roll Forward]
Balance at beginning of period	$ 20.6	$ 13.4	$ 15.5	$ 14.9
Charged to expense - termination benefits	3.4	2.4	12.7	3.3
Charged to expense - other	0.5	1.8	0.9	2.9
Payments	(8.9)	(7.2)	(13.2)	(10.8)
Currency translation adjustment and other	0	0.1	(0.3)	0.2
Balance at end of period	$ 15.6	10.5	$ 15.6	10.5
Restructuring Program 2020 | Other Operating Expense, Net
Restructuring Reserve [Roll Forward]
Non-cash charges		$ 1		$ 1.9

Allowance for Credit Losses (De

Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Balance at beginning of the period	$ 55.3	$ 51	$ 53.8	$ 47.2
Provision charged to expense	1.8	2.2	4.3	6.2
Write-offs, net of recoveries	(0.6)	(1.3)	(0.9)	(1.7)
Foreign currency translation and other	0.4	(0.7)	(0.3)	(0.5)
Balance at end of the period	$ 56.9	$ 51.2	$ 56.9	$ 51.2

Inventories (Details)

Inventories (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Inventory, Net [Abstract]
Raw materials, including parts and subassemblies	$ 714.7	$ 590.7
Work-in-process	129.9	145.1
Finished goods	395.1	337.8
Gross inventories	1,239.7	1,073.6
LIFO reserve	(79.7)	(72.5)
Inventories	$ 1,160	$ 1,001.1

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Schedule of Goodwill by Segment (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Balance at beginning of period	$ 6,609.7
Acquisitions	1,664
Foreign currency translation and other	(56.6)
Balance at end of period	8,217.1
Industrial Technologies and Services
Goodwill [Roll Forward]
Balance at beginning of period	4,753.5
Acquisitions	178.3
Foreign currency translation and other	(36.4)
Balance at end of period	4,895.4
Precision and Science Technologies
Goodwill [Roll Forward]
Balance at beginning of period	1,856.2
Acquisitions	1,485.7
Foreign currency translation and other	(20.2)
Balance at end of period	$ 3,321.7

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Industrial Technologies and Services
Goodwill, Impaired, Accumulated Impairment Loss [Abstract]
Accumulated impairment on goodwill	$ 220.6	$ 220.6

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Schedule of Other Intangible Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Amortized intangible assets
Accumulated Amortization	$ (2,061)	$ (1,897.6)
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Gross Carrying Amount	6,539.2	5,508.7
Accumulated Amortization	(2,061)	(1,897.6)
Net Carrying Amount	4,478.2	3,611.1
Tradenames
Unamortized intangible assets
Carrying amount	1,814	1,643.3
Customer lists and relationships
Amortized intangible assets
Gross Carrying Amount	4,006	3,279.3
Accumulated Amortization	(1,709.8)	(1,585.4)
Net Carrying Amount	2,296.2	1,693.9
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(1,709.8)	(1,585.4)
Technology
Amortized intangible assets
Gross Carrying Amount	527.5	413.8
Accumulated Amortization	(210)	(178.9)
Net Carrying Amount	317.5	234.9
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(210)	(178.9)
Tradenames
Amortized intangible assets
Gross Carrying Amount	59.8	52.2
Accumulated Amortization	(30)	(27.9)
Net Carrying Amount	29.8	24.3
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(30)	(27.9)
Backlog
Amortized intangible assets
Gross Carrying Amount	4.4	3
Accumulated Amortization	(3)	(1.3)
Net Carrying Amount	1.4	1.7
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	(3)	(1.3)
Other
Amortized intangible assets
Gross Carrying Amount	127.5	117.1
Accumulated Amortization	(108.2)	(104.1)
Net Carrying Amount	19.3	13
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Accumulated Amortization	$ (108.2)	$ (104.1)

Supply Chain Finance Program (D

Supply Chain Finance Program (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Payables and Accruals [Abstract]
Supplier finance program, obligation	$ 26.1	$ 24.3

Accrued Liabilities - Schedule

Accrued Liabilities - Schedule of Accrued Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Accrued Liabilities [Abstract]
Salaries, wages and related fringe benefits	$ 199.8		$ 262.4
Contract liabilities	324		331.2
Product warranty	72.3	$ 65.6	61.9	$ 57.4	$ 54.1	$ 46.2
Operating lease liabilities	47.1		41.6
Restructuring	15.6		15.5
Taxes	58		78.4
Accrued interest	55.8		33.1
Other	239		171.4
Total accrued liabilities	$ 1,011.6		$ 995.5
Operating lease, liability, current, statement of financial position	Total accrued liabilities		Total accrued liabilities

Accrued Liabilities - Schedul_2

Accrued Liabilities - Schedule of Product Warranty Liability (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Movement in Standard Product Warranty Accrual [Roll Forward]
Balance at beginning of period	$ 65.6	$ 54.1	$ 61.9	$ 46.2
Product warranty accruals	12.7	15.8	26.3	24.7
Acquired warranty	0.7	0	0.7	1.4
Settlements	(6.5)	(11)	(15.8)	(14.9)
Foreign currency translation and other	(0.2)	(1.5)	(0.8)	0
Balance at end of period	$ 72.3	$ 57.4	$ 72.3	$ 57.4

Benefit Plans (Details)

Benefit Plans (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pension Benefits | U.S. Plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	3.5	3.9	7	7.9
Expected return on plan assets	(3.3)	(3.4)	(6.6)	(6.7)
Recognition of:
Unrecognized prior service cost	0	0	0	0
Unrecognized net actuarial loss	0.1	0.1	0.1	0.1
Total recognized in other comprehensive (loss) income	0.3	0.6	0.5	1.3
Gain on settlement	0	(0.6)	0	(0.6)
Total recognized in other comprehensive (loss) income	0.3	0	0.5	0.7
Pension Benefits | Non-U.S. Plans
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	0.7	0.6	1.4	1.2
Interest cost	2.6	2.8	5.3	5.5
Expected return on plan assets	(2.7)	(2.7)	(5.5)	(5.4)
Recognition of:
Unrecognized prior service cost	0.1	0.1	0.1	0.1
Unrecognized net actuarial loss	(0.4)	(0.5)	(0.7)	(0.9)
Total recognized in other comprehensive (loss) income	0.3	0.3	0.6	0.5
Gain on settlement	0	0	0	0
Total recognized in other comprehensive (loss) income	0.3	0.3	0.6	0.5
Other Postretirement Benefits
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	0	0	0	0
Interest cost	0.2	0.3	0.4	0.5
Expected return on plan assets	0	0	0	0
Recognition of:
Unrecognized prior service cost	0	0	0	0
Unrecognized net actuarial loss	(0.2)	(0.2)	(0.4)	(0.3)
Total recognized in other comprehensive (loss) income	0	0.1	0	0.2
Gain on settlement	0	0	0	0
Total recognized in other comprehensive (loss) income	$ 0	$ 0.1	$ 0	$ 0.2

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2024	May 10, 2024	Dec. 31, 2023
Debt [Abstract]
Short-term borrowings	$ 3.1		$ 1
Long-term debt:
Finance leases and other long-term debt	14.6		15.2
Swap valuation adjustments	0		0
Unamortized debt issuance costs	(50.7)		(23.4)
Total long-term debt, net, including current maturities	4,752.3		2,722.6
Current maturities of long-term debt	1.4		29.6
Total long-term debt, net	4,750.9		2,693
Unamortized discounts	11.6		9.9
Dollar Term Loan B, due 2027
Long-term debt:
Long-term debt, gross	$ 0		347.7
Weighted-average interest rate of debt instrument (as percent)	7.18%
Dollar Term Loan, Due 2027
Long-term debt:
Long-term debt, gross	$ 0		892.3
Weighted-average interest rate of debt instrument (as percent)	7.18%
5.197% Senior Notes Due 2027 | Senior Notes
Long-term debt:
Long-term debt, gross	$ 699.9		$ 0
Stated interest rate of debt instrument (as percent)	5.197%	5.197%	5.197%
5.40% Senior Notes due 2028 | Senior Notes
Long-term debt:
Long-term debt, gross	$ 498.4		$ 498.2
Stated interest rate of debt instrument (as percent)	5.40%		5.40%
5.176% Senior Notes Due 2029 | Senior Notes
Long-term debt:
Long-term debt, gross	$ 750		$ 0
Stated interest rate of debt instrument (as percent)	5.176%	5.176%	5.176%
5.314% Senior Notes Due 2031 | Senior Notes
Long-term debt:
Long-term debt, gross	$ 500		$ 0
Stated interest rate of debt instrument (as percent)	5.314%	5.314%	5.314%
5.70% Senior Notes due 2033 | Senior Notes
Long-term debt:
Long-term debt, gross	$ 993		$ 992.6
Stated interest rate of debt instrument (as percent)	5.70%		5.70%
5.450% Senior Notes Due 2034 | Senior Notes
Long-term debt:
Long-term debt, gross	$ 749.5		$ 0
Stated interest rate of debt instrument (as percent)	5.45%	5.45%	5.45%
5.700% Senior Notes Due 2054 | Senior Notes
Long-term debt:
Long-term debt, gross	$ 597.6		$ 0
Stated interest rate of debt instrument (as percent)	5.70%	5.70%	5.70%

Debt - Narrative (Details)

Debt - Narrative (Details)		1 Months Ended		6 Months Ended
	May 10, 2024 USD ($) extensionOption	May 31, 2024 USD ($)	Aug. 31, 2023 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023	Apr. 21, 2023 USD ($)	Apr. 20, 2023 USD ($)
Debt Instrument [Line Items]
Fair value of debt				$ 4,900,000,000
Revolving Credit Facility
Debt Instrument [Line Items]
Unused borrowing capacity						$ 2,000,000,000	$ 1,100,000,000
Unamortized debt issuance costs				900,000
Dollar Term Loan B, due 2027
Debt Instrument [Line Items]
Unamortized debt issuance costs		$ 3,000,000	$ 12,600,000
New Revolving Credit Facility
Debt Instrument [Line Items]
Letters of credit outstanding				0
New Revolving Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Unused borrowing capacity				2,600,000,000
Line of credit facility, maximum borrowing capacity	$ 2,600,000,000			2,600,000,000
Debt instrument, extension options | extensionOption	2
Debt instrument, extension term	1 year
Basis spread on variable rate (as a percent)	0.10%
Debt instrument, covenant, adjusted consolidated total net debt to consolidated adjusted ebitda ratio, maximum	3.50
Debt instrument, covenant, following a qualified acquisition, adjusted consolidated total net debt to consolidated adjusted ebitda ratio, maximum	4
Outstanding borrowings				0
New Revolving Credit Facility | Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 200,000,000
Senior Notes
Debt Instrument [Line Items]
Aggregate principal amount	$ 3,300,000,000
Senior Notes | Debt Instrument, Redemption, Period One
Debt Instrument [Line Items]
Redemption price, percentage	100%
Senior Notes | Debt Instrument, Redemption, Period Two
Debt Instrument [Line Items]
Redemption price, percentage	101%
Senior Notes | 5.197% Senior Notes Due 2027
Debt Instrument [Line Items]
Aggregate principal amount	$ 700,000,000
Stated interest rate of debt instrument (as percent)	5.197%			5.197%	5.197%
Senior Notes | 5.176% Senior Notes Due 2029
Debt Instrument [Line Items]
Aggregate principal amount	$ 750,000,000
Stated interest rate of debt instrument (as percent)	5.176%			5.176%	5.176%
Senior Notes | 5.314% Senior Notes Due 2031
Debt Instrument [Line Items]
Aggregate principal amount	$ 500,000,000
Stated interest rate of debt instrument (as percent)	5.314%			5.314%	5.314%
Senior Notes | 5.450% Senior Notes Due 2034
Debt Instrument [Line Items]
Aggregate principal amount	$ 750,000,000
Stated interest rate of debt instrument (as percent)	5.45%			5.45%	5.45%
Senior Notes | 5.700% Senior Notes Due 2054
Debt Instrument [Line Items]
Aggregate principal amount	$ 600,000,000
Stated interest rate of debt instrument (as percent)	5.70%			5.70%	5.70%

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Sep. 30, 2022	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense	$ 131.5				$ 131.5
Grant date and recognized in compensation expense over (in year)				4 years 3 months 18 days
Continuing Operations
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 14.5		$ 11.9		$ 28.6	$ 24
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock for stock-based compensation plans (in shares)				300,000
Award expiration period (in years)					10 years
Stock Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting/performance period (in years)					4 years
Stock Options | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting/performance period (in years)					5 years
Performance Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting/performance period (in years)		3 years		5 years
Volume-weighted average closing (in days)				60 days
Closing price per share (in usd per share)				$ 81.85

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans - Schedule of Stock Option Awards (Details) - Stock Options shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Stock Option Awards shares
Balance at beginning of period (in shares) | shares	5,282
Granted (in shares) | shares	525
Exercised or settled (in shares) | shares	(1,287)
Forfeited (in shares) | shares	(40)
Expired (in shares) | shares	(2)
Balance at end of period (in shares) | shares	4,478
Vested (in shares) | shares	2,994
Weighted-Average Exercise Price (per share)
Balance at beginning of period (in usd per share) | $ / shares	$ 31.09
Granted (in usd per share) | $ / shares	90.35
Exercised or settled (in usd per share) | $ / shares	17.62
Forfeited (in usd per share) | $ / shares	58.96
Expired (in usd per share) | $ / shares	31.29
Balance at end of period (in usd per share) | $ / shares	41.66
Vested (in usd per share) | $ / shares	$ 29.03

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans - Schedule of Assumptions Used to Estimate Fair Value of Options Granted (Details) - Stock Options	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Risk-free interest rate, minimum (as percent)	4.20%	3.80%
Risk-free interest rate, maximum (as percent)	4.30%	4.10%
Assumed volatility, minimum (as a percent)	35.10%	36.40%
Assumed volatility, maximum (as a percent)	35.20%	36.60%
Expected dividend rate (as percent)	0.10%	0.10%
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	6 years 3 months 18 days
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	7 years 6 months

Stock-Based Compensation Plan_5

Stock-Based Compensation Plans - Schedule of Restricted Stock Unit Awards (Details) - Restricted Stock Units shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Restricted Stock Unit Awards Shares
Balance at beginning of period (in shares) | shares	957
Granted (in shares) | shares	321
Vested (in shares) | shares	(397)
Forfeited (in shares) | shares	(43)
Balance at end of period (in shares) | shares	838
Weighted-Average Grant-Date Fair Value
Balance at beginning of period (in usd per share) | $ / shares	$ 52.18
Granted (in usd per share) | $ / shares	89.86
Vested (in usd per share) | $ / shares	47.64
Forfeited (in usd per share) | $ / shares	62.10
Balance at end of period (in usd per share) | $ / shares	$ 68.24

Stock-Based Compensation Plan_6

Stock-Based Compensation Plans - Schedule of Performance Share Unit Activity (Details) - Performance Share Units shares in Thousands	6 Months Ended
	Jun. 30, 2024 $ / shares shares
Performance Share Unit Awards Shares
Balance at beginning of period (in shares) | shares	1,380
Granted (in shares) | shares	87
Change in units based on performance (in shares) | shares	122
Vested (in shares) | shares	(244)
Forfeited (in shares) | shares	(6)
Balance at end of period (in shares) | shares	1,339
Weighted-Average Grant-Date Fair Value
Balance at beginning of period (in usd per share) | $ / shares	$ 49.53
Granted (in usd per share) | $ / shares	132.98
Change in units based on performance (in usd per share) | $ / shares	55.84
Vested (in usd per share) | $ / shares	55.84
Forfeited (in usd per share) | $ / shares	71.81
Balance at end of period (in usd per share) | $ / shares	$ 54.28

Stock-Based Compensation Plan_7

Stock-Based Compensation Plans - Schedule of Performance Share Unit Fair Value Assumptions (Details) - Performance Share Units	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (in years)	2 years 9 months 18 days	2 years 10 months 24 days
Risk-free interest rate (as percent)	4.50%	4.40%
Assumed volatility (as percent)	28.90%	31.80%
Expected dividend rate (as percent)	0.10%	0.10%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Schedule of Before Tax Income (Loss) and Related Income Tax Effect (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Before-Tax Amount
Foreign currency translation adjustments, net	$ (26.5)	$ (46.6)	$ (93.9)	$ (0.4)
Unrecognized gains (losses) on cash flow hedges	(7.1)	14.6	(7.2)	7.5
Pension and other postretirement benefit prior service cost and gain or loss, net	(1.8)	(1.5)	(3.7)	(1.7)
Other comprehensive loss	(35.4)	(33.5)	(104.8)	5.4
Tax Benefit (Expense)
Foreign currency translation adjustments, net	(7.5)	0	(13.6)	(15.4)
Unrecognized gains (losses) on cash flow hedges	5	(3.7)	5	(1.9)
Pension and other postretirement benefit prior service cost and gain or loss, net	0.4	0.4	0.9	0.4
Other comprehensive loss	(2.1)	(3.3)	(7.7)	(16.9)
Net of Tax Amount
Foreign currency translation adjustments, net	(34)	(46.6)	(107.5)	(15.8)
Unrecognized gains (losses) on cash flow hedges	(2.1)	10.9	(2.2)	5.6
Pension and other postretirement benefit prior service cost and gain or loss, net	(1.4)	(1.1)	(2.8)	(1.3)
Total other comprehensive loss, net of tax	(37.5)	(36.8)	(112.5)	(11.5)
Other comprehensive income, net of tax [Abstract]
Other comprehensive income (loss), net of tax, attributable to noncontrolling interest	$ 0.1	$ (0.1)	$ (0.7)	$ 0.8

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Schedule of Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	$ 9,919.7	$ 9,381.7	$ 9,846.7	$ 9,257.2
Other comprehensive income (loss)	(37.4)	(36.9)	(113.2)	(10.7)
Balance at end of period	10,024.2	9,480.4	10,024.2	9,480.4
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period	(302.6)	(226.4)	(227.6)	(251.7)
Other comprehensive income (loss) before reclassifications			(98.8)	1.8
Amounts reclassified from accumulated other comprehensive loss			(13.7)	(13.3)
Other comprehensive income (loss)	(37.5)	(36.8)	(112.5)	(11.5)
Balance at end of period	(340.1)	(263.2)	(340.1)	(263.2)
Foreign Currency Translation Adjustments, Net
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			(248)	(282.8)
Other comprehensive income (loss) before reclassifications			(101.1)	(8.2)
Amounts reclassified from accumulated other comprehensive loss			(6.4)	(7.6)
Other comprehensive income (loss)			(107.5)	(15.8)
Balance at end of period	(355.5)	(298.6)	(355.5)	(298.6)
Cash Flow Hedges
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			12.2	16
Other comprehensive income (loss) before reclassifications			4.4	10.1
Amounts reclassified from accumulated other comprehensive loss			(6.6)	(4.5)
Other comprehensive income (loss)			(2.2)	5.6
Balance at end of period	10	21.6	10	21.6
Pension and Other Postretirement Benefit Plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance at beginning of period			8.2	15.1
Other comprehensive income (loss) before reclassifications			(2.1)	(0.1)
Amounts reclassified from accumulated other comprehensive loss			(0.7)	(1.2)
Other comprehensive income (loss)			(2.8)	(1.3)
Balance at end of period	$ 5.4	$ 13.8	$ 5.4	$ 13.8

Accumulated Other Comprehensi_5

Accumulated Other Comprehensive Loss - Schedule of Reclassifications out of AOCI (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Interest expense	$ 50.8	$ 40.8	$ 87.6	$ 79.7
Provision for income taxes	46.1	60.5	100.5	108.6
Net Income Attributable to Ingersoll Rand Inc.	$ 185	$ 179.5	387.2	340.6
Reclassification out of Accumulated Other Comprehensive Loss
Income Statement [Abstract]
Net Income Attributable to Ingersoll Rand Inc.			(13.7)	(13.3)
Cash Flow Hedges | Reclassification out of Accumulated Other Comprehensive Loss
Income Statement [Abstract]
Interest expense			(8.8)	(6)
Provision for income taxes			2.2	1.5
Net Income Attributable to Ingersoll Rand Inc.			(6.6)	(4.5)
Net investment hedges | Reclassification out of Accumulated Other Comprehensive Loss
Income Statement [Abstract]
Interest expense			(8.5)	(10.2)
Provision for income taxes			2.1	2.6
Net Income Attributable to Ingersoll Rand Inc.			(6.4)	(7.6)
Pension and Other Postretirement Benefit Plans | Reclassification out of Accumulated Other Comprehensive Loss
Income Statement [Abstract]
Amortization of defined benefit pension and other postretirement benefit items			(0.9)	(1.6)
Provision for income taxes			0.2	0.4
Net Income Attributable to Ingersoll Rand Inc.			$ (0.7)	$ (1.2)

Hedging Activities and Deriva_3

Hedging Activities and Derivative Instruments - Narrative (Details)		3 Months Ended		6 Months Ended
	May 10, 2024 USD ($)	Jun. 30, 2024 USD ($) contract	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) contract	Jun. 30, 2023 USD ($)	Jun. 30, 2024 EUR (€) contract	Jun. 29, 2024 USD ($)	May 07, 2024 USD ($)	Dec. 31, 2023 USD ($)
Derivatives, Fair Value [Line Items]
Payments to settle cross-currency swaps				$ 19,900,000	$ 0
Foreign currency forwards
Derivatives, Fair Value [Line Items]
Number of derivatives held | contract		3		3		3
Foreign currency forwards | Maximum
Derivatives, Fair Value [Line Items]
Term of derivative contract (in years)				1 year
Notional amount of derivative		$ 73,500,000		$ 73,500,000
Foreign currency forwards | Minimum
Derivatives, Fair Value [Line Items]
Notional amount of derivative		$ 14,700,000		$ 14,700,000
Interest rate swap contracts
Derivatives, Fair Value [Line Items]
Number of derivatives held | contract		2		2		2
Gain (loss) recognized in OCI on derivatives		$ (3,000,000)	$ 18,600,000	$ 1,600,000	$ 13,500,000
Interest rate swap contracts | Fair value | 5.176% Senior Notes Due 2029
Derivatives, Fair Value [Line Items]
Number of derivatives held | contract		4		4		4
Interest rate swap contracts | Fair value | 5.314% Senior Notes Due 2031
Derivatives, Fair Value [Line Items]
Number of derivatives held | contract		2		2		2
Interest rate swap contracts | Fair value | 5.450% Senior Notes Due 2034
Derivatives, Fair Value [Line Items]
Number of derivatives held | contract		1		1		1
Interest rate swap contracts | Fair value | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative		$ 750,000,000		$ 750,000,000
Interest rate swap contracts | Fair value | Derivatives Designated as Hedging Instruments | 5.176% Senior Notes Due 2029
Derivatives, Fair Value [Line Items]
Notional amount of derivative		400,000,000		400,000,000
Interest rate swap contracts | Fair value | Derivatives Designated as Hedging Instruments | 5.314% Senior Notes Due 2031
Derivatives, Fair Value [Line Items]
Notional amount of derivative		250,000,000		250,000,000
Interest rate swap contracts | Fair value | Derivatives Designated as Hedging Instruments | 5.450% Senior Notes Due 2034
Derivatives, Fair Value [Line Items]
Notional amount of derivative		100,000,000		100,000,000
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					$ 528,500,000
Unrecognized gains (losses) on cash flow hedges		$ 9,700,000		$ 9,700,000
Fixed interest rate of derivative (as percent)		3.20%		3.20%		3.20%
Interest rate swap contracts | Cash Flow | Derivatives Designated as Hedging Instruments | 5.450% Senior Notes Due 2034
Derivatives, Fair Value [Line Items]
Notional amount of derivative		$ 750,000,000		$ 750,000,000
Unrecognized gains (losses) on cash flow hedges								$ (2,100,000)
Interest rate swap contracts | Cash Flow | Derivatives Designated as Hedging Instruments | 5.700% Senior Notes Due 2054
Derivatives, Fair Value [Line Items]
Notional amount of derivative		$ 500,000,000		$ 500,000,000
Unrecognized gains (losses) on cash flow hedges								$ (2,300,000)
Interest rate cap contracts | Cash Flow | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Cap interest rate of derivative (as percent)		4%		4%		4%
Gain (loss) recognized in OCI on derivatives				$ 3,400,000
Cross-currency interest rate swap contracts
Derivatives, Fair Value [Line Items]
Number of derivatives held | contract		3		3		3
Cross-currency interest rate swap contracts | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Derivatives, Fair Value [Line Items]
Number of derivatives held | contract		3		3		3
Cross-currency interest rate swap contracts | Net investment | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative		$ 1,074,300,000		$ 1,074,300,000		€ 500,000,000			$ 1,054,200,000
Fixed interest rate of derivative (as percent)		1.60%		1.60%		1.60%
Payments to settle cross-currency swaps	$ 10,000,000
Cross-currency interest rate swap contracts | Net investment | Derivatives Designated as Hedging Instruments | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Derivatives, Fair Value [Line Items]
Notional amount of derivative		$ 525,700,000		$ 525,700,000		€ 500,000,000
Payments to settle cross-currency swaps	$ 9,900,000
Cross Currency Interest Rate Contract, 5.4% Fixed Rate | Net investment | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative		$ 428,900,000		$ 428,900,000
Fixed interest rate of derivative (as percent)		5.40%		5.40%		5.40%
Cross Currency Interest Rate Contract, Expiring May 2027 | Net investment | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative | €						€ 400,000,000
Fixed interest rate of derivative (as percent)		3.70%		3.70%		3.70%
Cross Currency Interest Rate Contract, 5.7% Fixed Rate One | Net investment | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative		$ 322,700,000		$ 322,700,000
Fixed interest rate of derivative (as percent)		5.70%		5.70%		5.70%
Cross Currency Interest Rate Contract, Expiring May 2029
Derivatives, Fair Value [Line Items]
Number of derivatives held | contract		3		3		3
Cross Currency Interest Rate Contract, Expiring May 2029 | Net investment | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative | €						€ 300,000,000
Fixed interest rate of derivative (as percent)		4.10%		4.10%		4.10%
Cross Currency Interest Rate Contract, Expiring May 2031
Derivatives, Fair Value [Line Items]
Number of derivatives held | contract		3		3		3
Cross Currency Interest Rate Contract, Expiring May 2031 | Net investment | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative | €						€ 300,000,000
Fixed interest rate of derivative (as percent)		4.10%		4.10%		4.10%
Cross Currency Interest Rate Contract, 5.7% Fixed Rate Two | Net investment | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative							$ 322,700,000
Fixed interest rate of derivative (as percent)		5.70%		5.70%		5.70%
Cross Currency Interest Rate Contract, 3.2% Fixed Rate
Derivatives, Fair Value [Line Items]
Number of derivatives held | contract		2		2		2
Cross Currency Interest Rate Contract, 3.2% Fixed Rate | Net investment | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative		$ 528,500,000		$ 528,500,000
Fixed interest rate of derivative (as percent)		3.20%		3.20%		3.20%

Hedging Activities and Deriva_4

Hedging Activities and Derivative Instruments - Schedule of Balance Sheets (Details)	Jun. 30, 2024 USD ($)	Jun. 30, 2024 EUR (€)	Dec. 31, 2023 USD ($)
Interest rate swap contracts | Fair value | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative	$ 750,000,000
Interest rate swap contracts | Fair value | Derivatives Designated as Hedging Instruments | Fair Value Other Current Assets
Derivatives, Fair Value [Line Items]
Assets fair value	0
Interest rate swap contracts | Fair value | Derivatives Designated as Hedging Instruments | Fair Value Other Assets
Derivatives, Fair Value [Line Items]
Assets fair value	7,000,000
Interest rate swap contracts | Fair value | Derivatives Designated as Hedging Instruments | Fair Value Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	7,000,000
Interest rate swap contracts | Fair value | Derivatives Designated as Hedging Instruments | Fair Value Other Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	0
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
Interest rate swap contracts | Cash Flow | Derivatives Designated as Hedging Instruments | Fair Value Other Current Assets
Derivatives, Fair Value [Line Items]
Assets fair value			8,200,000
Interest rate swap contracts | Cash Flow | Derivatives Designated as Hedging Instruments | Fair Value Other Assets
Derivatives, Fair Value [Line Items]
Assets fair value			1,200,000
Interest rate swap contracts | Cash Flow | Derivatives Designated as Hedging Instruments | Fair Value Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value			0
Interest rate swap contracts | Cash Flow | Derivatives Designated as Hedging Instruments | Fair Value Other Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value			0
Cross-currency interest rate swap contracts | Net investment | Derivatives Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative	1,074,300,000	€ 500,000,000	1,054,200,000
Cross-currency interest rate swap contracts | Net investment | Derivatives Designated as Hedging Instruments | Fair Value Other Current Assets
Derivatives, Fair Value [Line Items]
Assets fair value	10,600,000		15,700,000
Cross-currency interest rate swap contracts | Net investment | Derivatives Designated as Hedging Instruments | Fair Value Other Assets
Derivatives, Fair Value [Line Items]
Assets fair value	600,000		0
Cross-currency interest rate swap contracts | Net investment | Derivatives Designated as Hedging Instruments | Fair Value Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	0		0
Cross-currency interest rate swap contracts | Net investment | Derivatives Designated as Hedging Instruments | Fair Value Other Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	3,300,000		$ 63,100,000
Foreign currency forwards | Fair value | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative	60,000,000
Foreign currency forwards | Fair value | Derivatives Not Designated as Hedging Instruments | Fair Value Other Current Assets
Derivatives, Fair Value [Line Items]
Assets fair value	0
Foreign currency forwards | Fair value | Derivatives Not Designated as Hedging Instruments | Fair Value Other Assets
Derivatives, Fair Value [Line Items]
Assets fair value	0
Foreign currency forwards | Fair value | Derivatives Not Designated as Hedging Instruments | Fair Value Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	0
Foreign currency forwards | Fair value | Derivatives Not Designated as Hedging Instruments | Fair Value Other Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	0
Foreign currency forwards | Fair value | Derivatives Not Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Notional amount of derivative	73,500,000
Foreign currency forwards | Fair value | Derivatives Not Designated as Hedging Instruments | Fair Value Other Current Assets
Derivatives, Fair Value [Line Items]
Assets fair value	0
Foreign currency forwards | Fair value | Derivatives Not Designated as Hedging Instruments | Fair Value Other Assets
Derivatives, Fair Value [Line Items]
Assets fair value	0
Foreign currency forwards | Fair value | Derivatives Not Designated as Hedging Instruments | Fair Value Accrued Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	0
Foreign currency forwards | Fair value | Derivatives Not Designated as Hedging Instruments | Fair Value Other Liabilities
Derivatives, Fair Value [Line Items]
Liabilities fair value	$ 1,400,000

Hedging Activities and Deriva_5

Hedging Activities and Derivative Instruments - Schedule of Long Term Hedge (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Carrying amount of hedged debt	$ 750	$ 0
Cumulative hedging adjustments, included in carrying amount	$ 0	$ 0

Hedging Activities and Deriva_6

Hedging Activities and Derivative Instruments - Schedule of Cash Flow Hedges included in Accumulated Other Comprehensive Income (Loss) (Details) - Interest rate swap contracts - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivatives, Fair Value [Line Items]
Gain (loss) recognized in OCI on derivatives	$ (3)	$ 18.6	$ 1.6	$ 13.5
Gain reclassified from AOCI into income (effective portion)	$ 4.1	$ 4	$ 8.8	$ 6

Hedging Activities and Deriva_7

Hedging Activities and Derivative Instruments - Schedule of Net Investment Hedges included in Accumulated Other Comprehensive Income (Loss) (Details) - Cross-currency interest rate swap contracts - Net investment - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) recognized in OCI on derivatives	$ 15.1	$ (6.6)	$ 43.7	$ (12.1)
Gain reclassified from AOCI into income (effective portion)	$ 4.3	$ 4.8	$ 8.5	$ 10.2

Hedging Activities and Deriva_8

Hedging Activities and Derivative Instruments - Schedule of Derivative Instruments not Designated as Accounting Hedges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Foreign Currency Derivative Instruments Not Designated as Hedging Instruments at Fair Value, Net [Abstract]
Total foreign currency transaction gains, net	$ 0	$ 1.1	$ 0.7	$ 0.1
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, net	$ (2)	$ 0	$ (2)	$ 0.2

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value Measurements (Details) - Recurring - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Financial Assets
Trading securities held in deferred compensation plan	$ 19.1	$ 16.8
Interest rate swaps	7	9.4
Cross-currency interest rate swaps	11.2	15.7
Foreign currency forwards	0
Total	37.3	41.9
Financial Liabilities
Deferred compensation plans	26.5	24.7
Interest rate swaps	7
Cross-currency interest rate swaps	3.3	63.1
Contingent consideration	98.7	42.2
Foreign currency forwards	1.4
Total	136.9	130
Level 1
Financial Assets
Trading securities held in deferred compensation plan	19.1	16.8
Interest rate swaps	0	0
Cross-currency interest rate swaps	0	0
Foreign currency forwards	0
Total	19.1	16.8
Financial Liabilities
Deferred compensation plans	26.5	24.7
Interest rate swaps	0
Cross-currency interest rate swaps	0	0
Contingent consideration	0	0
Foreign currency forwards	0
Total	26.5	24.7
Level 2
Financial Assets
Trading securities held in deferred compensation plan	0	0
Interest rate swaps	7	9.4
Cross-currency interest rate swaps	11.2	15.7
Foreign currency forwards	0
Total	18.2	25.1
Financial Liabilities
Deferred compensation plans	0	0
Interest rate swaps	7
Cross-currency interest rate swaps	3.3	63.1
Contingent consideration	0	0
Foreign currency forwards	1.4
Total	11.7	63.1
Level 3
Financial Assets
Trading securities held in deferred compensation plan	0	0
Interest rate swaps	0	0
Cross-currency interest rate swaps	0	0
Foreign currency forwards	0
Total	0	0
Financial Liabilities
Deferred compensation plans	0	0
Interest rate swaps	0
Cross-currency interest rate swaps	0	0
Contingent consideration	98.7	42.2
Foreign currency forwards	0
Total	$ 98.7	$ 42.2

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Contingent Consideration (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration, current	$ 60.3		$ 60.3
Contingent consideration, noncurrent	38.4		38.4
Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Balance at beginning of the period	48.4	$ 48.4	42.2	$ 43.9
Acquisitions	50.2	12.8	56.7	12.8
Changes in fair value	0.3	4.1	0.5	8.4
Payments	(0.2)	(3.1)	(0.2)	(3.1)
Foreign currency translation	0	0.3	(0.5)	0.5
Balance at end of the period	$ 98.7	$ 62.5	$ 98.7	$ 62.5

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 1,805.3	$ 1,686.5	$ 3,475.4	$ 3,315.8
Revenue recognized at point in time
Disaggregation of Revenue [Line Items]
Revenues	1,671.2	1,572.3	3,211.1	3,104
Revenue recognized over time
Disaggregation of Revenue [Line Items]
Revenues	134.1	114.2	264.3	211.8
Original equipment
Disaggregation of Revenue [Line Items]
Revenues	1,162.8	1,087.7	2,214.9	2,123.1
Aftermarket
Disaggregation of Revenue [Line Items]
Revenues	642.5	598.8	1,260.5	1,192.7
Americas
Disaggregation of Revenue [Line Items]
Revenues	911.9	792.7	1,766.9	1,586.3
United States
Disaggregation of Revenue [Line Items]
Revenues	784.5	697.6	1,518.7	1,393
Other Americas
Disaggregation of Revenue [Line Items]
Revenues	127.4	95.1	248.2	193.3
EMEIA
Disaggregation of Revenue [Line Items]
Revenues	581.1	542.4	1,140.2	1,081.8
Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	312.3	351.4	568.3	647.7
Industrial Technologies and Services
Disaggregation of Revenue [Line Items]
Revenues	1,466.5	1,378.4	2,839.9	2,695.6
Industrial Technologies and Services | Revenue recognized at point in time
Disaggregation of Revenue [Line Items]
Revenues	1,334.2	1,266.2	2,578.6	2,486.7
Industrial Technologies and Services | Revenue recognized over time
Disaggregation of Revenue [Line Items]
Revenues	132.3	112.2	261.3	208.9
Industrial Technologies and Services | Original equipment
Disaggregation of Revenue [Line Items]
Revenues	897.6	843.2	1,724.7	1,633.3
Industrial Technologies and Services | Aftermarket
Disaggregation of Revenue [Line Items]
Revenues	568.9	535.2	1,115.2	1,062.3
Industrial Technologies and Services | Americas
Disaggregation of Revenue [Line Items]
Revenues	735.8	644.8	1,445.6	1,286.9
Industrial Technologies and Services | United States
Disaggregation of Revenue [Line Items]
Revenues	626.2	556.8	1,223.3	1,108
Industrial Technologies and Services | Other Americas
Disaggregation of Revenue [Line Items]
Revenues	109.6	88	222.3	178.9
Industrial Technologies and Services | EMEIA
Disaggregation of Revenue [Line Items]
Revenues	461.2	428.5	906.6	854.5
Industrial Technologies and Services | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	269.5	305.1	487.7	554.2
Precision and Science Technologies
Disaggregation of Revenue [Line Items]
Revenues	338.8	308.1	635.5	620.2
Precision and Science Technologies | Revenue recognized at point in time
Disaggregation of Revenue [Line Items]
Revenues	337	306.1	632.5	617.3
Precision and Science Technologies | Revenue recognized over time
Disaggregation of Revenue [Line Items]
Revenues	1.8	2	3	2.9
Precision and Science Technologies | Original equipment
Disaggregation of Revenue [Line Items]
Revenues	265.2	244.5	490.2	489.8
Precision and Science Technologies | Aftermarket
Disaggregation of Revenue [Line Items]
Revenues	73.6	63.6	145.3	130.4
Precision and Science Technologies | Americas
Disaggregation of Revenue [Line Items]
Revenues	176.1	147.9	321.3	299.4
Precision and Science Technologies | United States
Disaggregation of Revenue [Line Items]
Revenues	158.3	140.8	295.4	285
Precision and Science Technologies | Other Americas
Disaggregation of Revenue [Line Items]
Revenues	17.8	7.1	25.9	14.4
Precision and Science Technologies | EMEIA
Disaggregation of Revenue [Line Items]
Revenues	119.9	113.9	233.6	227.3
Precision and Science Technologies | Asia Pacific
Disaggregation of Revenue [Line Items]
Revenues	$ 42.8	$ 46.3	$ 80.6	$ 93.5

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Remaining Performance Obligation (Details) $ in Millions	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 692.6
Remaining performance obligation, expected timing of satisfaction	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation	$ 683.1
Remaining performance obligation, expected timing of satisfaction

Revenue from Contracts with C_5

Revenue from Contracts with Customers - Schedule of Contract Balances (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Abstract]
Accounts receivable, net	$ 1,301.4	$ 1,234.2
Contract assets	124.1	85.6
Contract liabilities - current	324	331.2
Contract liabilities - noncurrent	$ 0.9	$ 1

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income before income taxes	$ 236.1	$ 238.9	$ 505.7	$ 449.9
Provision for income taxes	$ 46.1	$ 60.5	$ 100.5	$ 108.6
Effective income tax provision rate (as percent)	19.50%	25.30%	19.90%	24.10%

Other Operating Expense, Net (D

Other Operating Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Other Income and Expenses [Abstract]
Foreign currency transaction gains, net	$ 0	$ (1.1)	$ (0.7)	$ (0.1)
Restructuring charges, net	3.9	5.2	13.6	8.1
Acquisition and other transaction related expenses	25.9	12.8	41.2	28
Loss on asbestos sale	58.8	0	58.8	0
Other, net	(0.4)	2.9	0.5	4.2
Total other operating expense, net	$ 88.2	$ 19.8	$ 113.4	$ 40.2

Contingencies - Narrative (Deta

Contingencies - Narrative (Details) $ in Millions		3 Months Ended	6 Months Ended
	Jun. 05, 2024 USD ($) subsidiary	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Loss Contingencies [Line Items]
Number of subsidiaries that hold asbestos liabilities and assets | subsidiary	3
Undiscounted accrued liabilities for environmental loss contingencies		$ 18.2	$ 18.2	$ 16.7
Asbestos Portfolio Sale | Discontinued Operations, Disposed of by Sale
Loss Contingencies [Line Items]
Proceeds from divestiture of businesses	$ 188.5
Pre tax loss		58.8	58.8
Income tax benefit		7.6	7.6
Loss after tax		$ 51.2	$ 51.2
Insurance Settlement | Asbestos Portfolio Sale | Discontinued Operations, Disposed of by Sale
Loss Contingencies [Line Items]
Proceeds from divestiture of businesses	143.5
Delticus Holdings LLC | Asbestos Portfolio Sale | Discontinued Operations, Disposed of by Sale
Loss Contingencies [Line Items]
Proceeds from divestiture of businesses	35
Ingersoll Rand | Asbestos Portfolio Sale | Discontinued Operations, Disposed of by Sale
Loss Contingencies [Line Items]
Proceeds from divestiture of businesses	$ 10
InTelCo | Onyx TopCo LLC
Loss Contingencies [Line Items]
Ownership interest	100%
Asbestos and Silica Related Litigation
Loss Contingencies [Line Items]
Estimated litigation liability				126.9
Insurance recovery receivable				$ 157.7

Contingencies - Schedule of Dis

Contingencies - Schedule of Discontinued Operations (Details) - Discontinued Operations, Disposed of by Sale - Asbestos Portfolio Sale $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2024 USD ($)
Assets divested:
Cash and cash equivalents	$ 153.5	$ 153.5
Insurance recovery receivable	13.9	13.9
Liabilities divested:
Asbestos indemnity liability - current	(12.3)	(12.3)
Asbestos indemnity liability - noncurrent	(111.4)	(111.4)
Loss on Asbestos Sale, before transaction costs		43.7
Transaction costs		15.1
Loss on Asbestos Sale	58.8	58.8
Income tax benefit	(7.6)	(7.6)
Loss on Asbestos Sale, net of tax	$ 51.2	$ 51.2

Segment Results - Narrative (De

Segment Results - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Results - Schedule of S

Segment Results - Schedule of Segment Results (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting [Abstract]
Revenue	$ 1,805.3	$ 1,686.5	$ 3,475.4	$ 3,315.8
Segment Adjusted EBITDA	538.7	467.5	1,041.2	907.6
Less items to reconcile Segment Adjusted EBITDA to Income Before Income Taxes:
Interest expense	50.8	40.8	87.6	79.7
Restructuring and related business transformation costs	3.9	5.9	14.6	10.2
Stock-based compensation			28.6	24
Foreign currency transaction gains, net	0	(1.1)	(0.7)	(0.1)
Loss on extinguishment of debt	3	0.9	3	0.9
Adjustments to LIFO inventories			7.2	14.3
Loss on asbestos sale	58.8	0	58.8	0
Income Before Income Taxes	236.1	238.9	505.7	449.9
Provision for income taxes	46.1	60.5	100.5	108.6
Income (loss) on equity method investments	(3.5)	2.4	(14.2)	2.7
Net Income	186.5	180.8	391	344
Depreciation of rental equipment	1.1	0.8	2	1.7
Restructuring Costs [Abstract]
Restructuring charges	3.9	5.2	13.6	8.1
Facility reorganization, relocation and other costs	0	0.7	1	2.1
Total restructuring and related business transformation costs	3.9	5.9	14.6	10.2
Industrial Technologies and Services
Segment Reporting [Abstract]
Revenue	1,466.5	1,378.4	2,839.9	2,695.6
Precision and Science Technologies
Segment Reporting [Abstract]
Revenue	338.8	308.1	635.5	620.2
Operating Segments | Industrial Technologies and Services
Segment Reporting [Abstract]
Revenue	1,466.5	1,378.4	2,839.9	2,695.6
Segment Adjusted EBITDA	436.2	377.5	847.3	723.1
Operating Segments | Precision and Science Technologies
Segment Reporting [Abstract]
Revenue	338.8	308.1	635.5	620.2
Segment Adjusted EBITDA	102.5	90	193.9	184.5
Corporate expenses not allocated to segments
Less items to reconcile Segment Adjusted EBITDA to Income Before Income Taxes:
Corporate expenses not allocated to segments	44.1	42.8	88.1	82.8
Segment Reconciling Items
Less items to reconcile Segment Adjusted EBITDA to Income Before Income Taxes:
Interest expense	50.8	40.8	87.6	79.7
Depreciation and amortization expense	115.8	111	232.1	224.1
Restructuring and related business transformation costs	3.9	5.9	14.6	10.2
Acquisition and other transaction related expenses and non-cash charges	27.7	13.8	43	31.8
Stock-based compensation	14.5	11.9	28.6	24
Foreign currency transaction gains, net	0	(1.1)	(0.7)	(0.1)
Loss on extinguishment of debt	3	0.9	3	0.9
Adjustments to LIFO inventories	0.4	6.5	7.2	14.3
Cybersecurity incident costs	(0.1)	2.2	0.5	2.2
Loss on asbestos sale	58.8	0	58.8	0
Interest income on cash and cash equivalents	(16.3)	(6.1)	(27.7)	(10.8)
Other adjustments	0	0	0.4	(1.4)
Income Before Income Taxes	236.1	238.9	505.7	449.9
Restructuring Costs [Abstract]
Total restructuring and related business transformation costs	$ 3.9	$ 5.9	$ 14.6	$ 10.2

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Basic and Diluted Earnings Per Share (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Average shares outstanding
Weighted-average shares outstanding - Basic (in shares)	403.5	404.5	403.5	404.8
Dilutive effect of outstanding share-based compensation awards (in shares)	3.9	3.8	4.2	4
Weighted-average shares outstanding - Diluted (in shares)	407.4	408.3	407.7	408.8

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	0.6	1.6	0.4	1.6