Company: IR
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021883
Chunk: 33

Company: Ingersoll Rand Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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24Balance at beginning of period$67.9 $61.9 Product warranty accruals1.3 13.6 Settlements(7.3)(9.3)Foreign currency translation and other0.8 (0.6)Balance at end of period$62.7 $65.6 

Note 9. Benefit Plans

Net Periodic Benefit CostThe 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 month periods ended March 31, 2025 and 2024.Pension BenefitsOther Postretirement BenefitsU.S. PlansNon-U.S. PlansFor the Three Month Period Ended March 31,202520242025202420252024Service cost$— $— $0.7 $0.7 $— $— Interest cost3.5 3.5 2.8 2.7 0.1 0.2 Expected return on plan assets(2.8)(3.3)(2.3)(2.8)— — Recognition of:Unrecognized prior service cost— — — — (2.7)— Unrecognized net actuarial loss— — (0.2)(0.3)(0.2)(0.2)$0.7 $0.2 $1.0 $0.3 $(2.8)$— 

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.

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Note 10. Debt

Debt as of March 31, 2025 and December 31, 2024 is summarized as follows.March 31, 2025December 31, 2024Short-term borrowings$0.3 $1.7 Long-term debt:5.197% Senior Notes, due June 2027(1)699.9 699.9 5.400% Senior Notes, due August 2028(1)498.7 498.6 5.176% Senior Notes, due June 2029(1)750.0 750.0 5.314% Senior Notes, due June 2031(1)500.0 500.0 5.700% Senior Notes,