Company: IR
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006391
Chunk: 122

Company: Ingersoll Rand Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 122
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 or arranged for the disposal of hazardous substances found at those sites. Although these laws impose joint and several liability on PRPs, in application the PRPs typically allocate the investigation and cleanup costs based upon the volume of waste contributed by each PRP. Based on currently available information, the Company was only a small contributor to these waste sites, and the Company has, or is attempting to negotiate, de minimis settlements for their cleanup. The cleanup of the remaining sites is substantially complete and the Company’s future obligations entail a share of the sites’ ongoing operating and maintenance expense. The Company is also addressing several on-site cleanups for which it is the primary responsible party.

85

The Company has undiscounted liabilities of $13.6 million and $16.7 million as of December 31, 2024 and 2023, respectively, on its Consolidated Balance Sheets to the extent costs are known or can be reasonably estimated for its remaining financial obligations for the environmental matters discussed above and does not anticipate that any of these matters will result in material additional costs beyond amounts accrued. Based upon consideration of currently available information, the Company does not anticipate any material adverse effect on its results of operations, financial condition, liquidity or competitive position as a result of compliance with federal, state, local or foreign environmental laws or regulations, or cleanup costs relating to these matters.

Note 23:    Other Operating Expense, Net

The components of “Other operating expense, net” for the years ended December 31, 2024, 2023 and 2022 were as follows.202420232022Other Operating Expense, NetForeign currency transaction losses (gains), net$3.2 $5.1 $(5.9)Restructuring charges, net(1)31.2 19.9 29.3 Acquisition and other transaction related expenses(2)47.1 52.2 38.7 Loss on asbestos sale(3)58.8 — — Other, net(1.7)0.5 2.8 Total other operating expense, net$138.6 $77.7 $64.9 (1)See Note 5 “Restructuring.”(2)Represents costs associated with successful and abandoned acquisitions, including third-party expenses, post-closure integration costs and non-cash charges and credits arising from fair value purchase accounting adjustments.(3)See Note 22 “Contingencies.”

Note