Company: IR
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006391
Chunk: 77

Company: Ingersoll Rand Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 77
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 carrying amount may not be recoverable. As a result, the Company recognized an impairment of $13.9 million to reduce the carrying value of a technology asset.

Note 10:    Supply Chain Finance Program

The Company has agreements with financial institutions to facilitate a supply chain finance program (the “SCF Program”). Under the SCF Program, qualifying suppliers may elect to sell their receivables from the Company to the financial institution. Participating suppliers negotiate arrangements for sale of their receivables directly with the financial institution, and the terms of the Company’s payment obligations are not impacted by a supplier’s participation in the SCF Program. Once a qualifying supplier elects to participate in the SCF Program and reaches an agreement with the financial institution, the supplier elects which individual Company invoices they sell 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 Consolidated Balance Sheets, and the associated payments are included in “Net cash provided by operating activities from continuing operations” within our Consolidated Statements of Cash Flows.The following table summarizes the activity associated with the Company’s SCF Program for the years ended December 31, 2024 and 2023.20242023Confirmed obligations outstanding at beginning of period$24.3 $9.7 Invoices confirmed117.0 112.9 Confirmed invoices paid(116.8)(98.3)Confirmed obligations outstanding at end of period$24.5 $24.3 

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Note 11:    Accrued Liabilities

Accrued liabilities as of December 31, 2024 and 2023 consisted of the following:20242023Salaries, wages and related fringe benefits$229.5 $262.4 Contract liabilities318.6 331.2 Product warranty67.9 61.9 Operating lease liabilities56.3 41.6 Restructuring22.3 15.5 Taxes72.5 78.4 Accrued interest33.2 33.1 Other171.9 171.4 Total accrued liabilities$972.2 $995.5 A reconciliation