Company: IR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047838
Chunk: 61

Company: Ingersoll Rand Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 61
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 2024.

Other Income, Net

Other income, net was $9.0 million and $9.5 million in the three month periods ended September 30, 2025 and 2024, respectively. The decrease was primarily due to a decrease in interest income from holdings of cash and cash equivalents.

Other income, net was $35.2 million and $40.8 million in the nine month periods ended September 30, 2025 and 2024, respectively. The decrease was primarily due to a decrease in interest income from holdings of cash and cash equivalents.

Provision for Income Taxes

The provision for income taxes was $73.6 million, resulting in a 23.0% effective income tax provision rate for the three month period ended September 30, 2025, compared to a provision for income taxes of $73.8 million, resulting in a 24.4% effective income tax provision rate in the same three month period in 2024. The decrease in the tax provision and the effective income tax provision rate for the three month period ended September 30, 2025 when compared to the same three month period of 2024 is primarily due to a decrease in the pretax book income in jurisdictions with higher effective tax rates combined with increased earnings in jurisdictions with lower tax rates.

The provision for income taxes was $153.1 million, resulting in a 25.5% effective income tax provision rate for the nine month period ended September 30, 2025, compared to a provision for income taxes of $174.3 million, resulting in a 21.6% effective income tax provision rate in the same nine month period in 2024. The decrease in the provision for income taxes and increase in the effective income tax provision rate for the nine month period ended September 30, 2025 when compared to the same nine month period of 2024 is primarily due to nondeductible impairment of goodwill, tradenames, and equity investment and a lower benefit from a windfall tax deduction in the 2025 period compared to the 2024 period.

Net Income

Net income was $245.8 million for the three month period ended September 30, 2025 compared to net income of $223.4 million in the same three month period in 2024. The increase in net income was primarily due to higher gross profit, partially offset by higher selling and administrative expenses.

Net income was $320.4 million for