Company: IR
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006391
Chunk: 73

Company: Ingersoll Rand Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 73
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 number of facilities and optimize operating margin within the merged Company. Charges incurred in 2022 relate to the 2020 Plan.For the years ended December 31, 2024, 2023 and 2022, “Restructuring charges, net” were recognized within “Other operating expense, net” in the Consolidated Statements of Operations and consisted of the following.202420232022Industrial Technologies and Services$20.6 $15.1 $20.1 Precision and Science Technologies7.9 4.1 8.7 Corporate2.7 0.7 0.5 Restructuring charges, net$31.2 $19.9 $29.3 

54

The following table summarizes the activity associated with the Company’s restructuring programs (included in “Accrued liabilities” in the Consolidated Balance Sheets) for the years ended December 31, 2024 and 2023.20242023Balance at beginning of period$15.5 $14.9 Charged to expense - termination benefits27.1 13.0 Charged to expense - other(1)2.5 4.2 Payments(21.6)(17.1)Foreign currency translation and other(1.2)0.5 Balance at end of period$22.3 $15.5 (1)Excludes $1.6 million and $2.7 million of non-cash charges that impacted restructuring expense but not the restructuring liabilities during the years ended December 31, 2024 and 2023, respectively.

Note 6:    Allowance for Credit Losses

The following table summarized the activity associated with allowance for credit losses for the years ended December 31, 2024, 2023 and 2022.202420232022Balance at beginning of period$53.8 $47.2 $42.3 Provision charged to expense7.5 9.4 10.1 Write-offs, net of recoveries(3.3)(3.3)(3.2)Foreign currency translation and other(0.7)0.5 (2.0)Balance at end of period$57.3 $53.8 $47.2 

Note 7:    Inventories

Inventories as of December 31, 2024 and 2023 consisted of the following.202