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

Company: Ingersoll Rand Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 7
Chunk 25
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 Other income, net(48.9)(37.0)Income Before Income Taxes1,132.8 1,031.1 Provision for income taxes262.5 240.0 Loss on equity method investments(24.0)(6.0)Net Income846.3 785.1 Less: Net income attributable to noncontrolling interests7.7 6.4 Net Income Attributable to Ingersoll Rand Inc.$838.6 $778.7 Percentage of RevenuesGross Profit43.8 %41.9 %Selling and administrative expenses18.6 %18.5 %Operating Income18.0 %16.9 %Net Income11.7 %11.4 %Adjusted EBITDA(1)27.9 %26.0 %Other Financial DataAdjusted EBITDA(1)$2,018.1 $1,786.8 Adjusted net income(1)1,349.3 1,215.8 Cash flows - operating activities1,396.7 1,377.4 Cash flows - investing activities(3,107.7)(1,060.5)Cash flows - financing activities1,707.5 (337.5)Free cash flow(1)1,247.6 1,272.0 

(1)See “Non-GAAP Financial Measures” below for a reconciliation to the most directly comparable GAAP measure.

Revenues

Revenues for 2024 were $7,235.0 million, an increase of $358.9 million, or 5.2%, compared to $6,876.1 million in 2023. The increase in revenues was primarily due to acquisitions of $471.2 million and higher pricing of $153.3 million, partially offset by lower organic volumes of $241.9 million and unfavorable impact of foreign currencies of $23.7 million. The percentage of consolidated revenues derived from aftermarket parts and services was 36.4% in 2024 compared to 35.8% in 2023.

Gross Profit

Gross profit in 2024 was $3,170.0 million, an increase of $287.8 million, or 10.0%, compared to $2,882.2 million in 2023, and as a percentage of revenues was 43.8% in 2024 and 41