Company: IR
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021883
Chunk: 44

Company: Ingersoll Rand Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 1
Chunk 44
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’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 

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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 InstrumentsThe 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 March 31, 2025 and December 31, 2024.March 31, 2025Derivative ClassificationNotional Amount(1)Fair Value(1) Other Current AssetsFair Value(1) Other AssetsFair Value(1) Accrued LiabilitiesFair Value(1) Other LiabilitiesDerivatives Designated as Hedging InstrumentsInterest rate swap contractsFair Value$1,000.0 $— $14.6 $1.1 $— Cross-currency interest rate swap contractsNet investment1,332.7 18.3 — — 31.6 Derivatives Not Designated as Hedging InstrumentsForeign currency forwardsFair value$143.2 $1.8 $— $— $— Foreign currency forwardsFair value54.5 — — 0.5 — December 31, 2024Derivative ClassificationNotional Amount(1)Fair Value(1) Other Current AssetsFair Value(1) Other AssetsFair Value(1) Accrued LiabilitiesFair Value(1) Other LiabilitiesDerivatives Designated as Hedging InstrumentsInterest rate swap contracts