Company: IR
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006391
Chunk: 74

Company: Ingersoll Rand Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 74
---
42023Raw materials, including parts and subassemblies$675.1 $590.7 Work-in-process116.3 145.1 Finished goods342.8 337.8 1,134.2 1,073.6 LIFO reserve(79.2)(72.5)Inventories$1,055.0 $1,001.1 At December 31, 2024 and 2023, 34% and 37%, respectively, of total inventory is accounted for on a last-in, first-out (“LIFO”) basis.

Note 8:    Property, Plant and Equipment

Property, plant and equipment, net as of December 31, 2024 and 2023 consisted of the following.20242023Land and land improvements$62.3 $67.7 Buildings385.6 337.1 Machinery and equipment792.6 655.8 Office furniture and equipment76.8 71.0 Construction in progress92.3 80.6 1,409.6 1,212.2 Accumulated depreciation(567.5)(500.8)Property, plant and equipment, net$842.1 $711.4 

55

Note 9:    Goodwill and Other Intangible Assets

GoodwillThe changes in the carrying amount of goodwill attributable to each reportable segment for the years ended December 31, 2024 and 2023 are as follows.Industrial Technologies and ServicesPrecision and Science TechnologiesTotalBalance as of December 31, 2022$4,222.5 $1,841.7 $6,064.2 Acquisitions509.1 2.4 511.5 Foreign currency translation and other(1)21.9 12.1 34.0 Balance as of December 31, 20234,753.5 1,856.2 6,609.7 Acquisitions263.9 1,404.3 1,668.2 Foreign currency translation and other(1)(86.7)(43.1)(129.8)Balance as of December 31, 2024$4,930.7 $3,217.4 $8,148.1 (1)Includes measurement period adjustments.The Company acquired multiple businesses during the year ended December 31, 202