Company: IR
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021883
Chunk: 105

Company: Ingersoll Rand Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 8
Chunk 105
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 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 March 31, 2025 and December 31, 2024 were $27.0 million and $24.5 million of outstanding payment obligations, respectively, that were sold to the financial institution by participating suppliers.

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Note 8. Accrued Liabilities

Accrued liabilities as of March 31, 2025 and December 31, 2024 consisted of the following.March 31, 2025December 31, 2024Salaries, wages and related fringe benefits$252.8 $229.5 Contract liabilities328.9 318.6 Product warranty62.7 67.9 Operating lease liabilities62.3 56.3 Restructuring17.0 22.3 Taxes91.9 72.5 Accrued interest60.8 33.2 Other168.3 171.9 Total accrued liabilities$1,044.7 $972.2 A reconciliation of the changes in the accrued product warranty liability for the three month periods ended March 31, 2025 and 2024 are as follows.For the Three Month Period Ended March 31,20252024Balance 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 Benefits