Company: IR
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006391
Chunk: 102

Company: Ingersoll Rand Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 102
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 $66.5 U.S. state and local22.8 23.7 21.5 Non-U.S.185.3 181.7 147.4 Deferred:U.S. federal(9.7)(44.0)(37.3)U.S. state and local(5.7)(6.9)(5.5)Non-U.S.(17.7)(26.0)(43.0)Provision for income taxes$262.5 $240.0 $149.6 Certain prior period amounts within this Note have been reclassified to conform to the current period presentation.The U.S. federal corporate statutory rate is reconciled to the Company’s effective income tax rate for the years ended December 31, 2024, 2023 and 2022 as follows.202420232022U.S. federal corporate statutory rate21.0 %21.0 %21.0 %State and local taxes, less federal tax benefit1.4 1.3 2.0 Net effects of foreign tax rate differential2.5 1.8 1.5 Withholding tax1.3 1.5 2.1 Repatriation cost(1.5)(2.0)(3.2)Global Intangible Low-Tax Income (“GILTI”)0.4 0.7 0.3 ASC 740-30 (formerly APB 23)1.5 1.7 1.9 Valuation allowance changes0.4 1.7 0.5 Uncertain tax positions0.9 0.9 0.2 Equity compensation(1.3)(0.6)(0.6)Nondeductible acquisition costs0.3 0.4 0.4 Foreign Derived Intangible Income (“FDII”) deduction(1.1)(1.4)(1.6)Tax credits(0.6)(0.7)(1.1)Income not subject to tax(0.3)(1.6)(3.5)Amortization of goodwill and other intangible assets(1.3)(0.8)— Interest on equity(1.8)(0.7)(0.4)Return to provision adjustment(0.2)0.1 — Loss on sale1.1 — — Other, net0.5 —