Company: IR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047838
Chunk: 63

Company: Ingersoll Rand Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 63
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 lower organic volumes, tariff related pricing targeted to offset tariff cost increases one for one, and the decretive impact of acquisitions.

Adjusted Net Income

Adjusted Net Income increased $0.9 million to $345.6 million for the three month period ended September 30, 2025 compared to $344.7 million in the same three month period in 2024. The increase was primarily due to higher net income.

Adjusted Net Income decreased $41.7 million to $964.0 million for the nine month period ended September 30, 2025 compared to $1,005.7 million in the same nine month period in 2024. The decrease was primarily due to higher interest expense, higher income tax provision, as adjusted, and lower interest income on cash and cash equivalents.

44

Non-GAAP Financial Measures

Set forth below are the reconciliations of Net Income to Adjusted EBITDA and Adjusted Net Income and Cash Flows from Operating Activities to Free Cash Flow.

For the Three Month Period Ended September 30,For the Nine Month Period Ended September 30,2025202420252024Net Income$245.8 $223.4 $320.4 $614.4 Plus:Interest expense65.1 63.8 189.0 151.4 Provision for income taxes73.6 73.8 153.1 174.3 Depreciation expense (a)28.2 28.2 83.4 77.5 Amortization expense (b)94.9 95.0 277.8 277.8 Impairment of goodwill and other intangible assets— — 265.8 — Restructuring and related business transformation costs (c)19.9 9.7 28.7 24.3 Acquisition and other transaction related expenses and non-cash charges (d)0.4 16.5 22.0 59.5 Stock-based compensation14.9 15.0 45.8 43.6 Foreign currency transaction losses, net2.8 9.9 15.6 9.2 Loss on equity method investments— 4.8 127.1 19.0 Loss on extinguishment of debt— — — 3.0 Adjustments to LIFO inventories5.2 — 15.5 7