Company: IR
Filing Date: 2025-05-02
Form Type: 10-Q
Source: 0001628280-25-021883
Chunk: 5

Company: Ingersoll Rand Inc.
Filing Date: 2025-05-02
Form: 10-Q
Item: Part I, Item 2
Chunk 5
---
4% for the three month period ended March 31, 2025 from 20.1% in the same three month period in 2024.

Amortization of Intangible Assets

Amortization of intangible assets was $91.3 million for the three month period ended March 31, 2025, a decrease of $0.3 million, compared to $91.6 million in the same three month period in 2024. The decrease was primarily due to certain intangible assets becoming fully amortized, partially offset by businesses acquired in 2024 and first three months of 2025 discussed in Note 2 “Acquisitions” to our unaudited condensed consolidated financial statements included elsewhere in this Form 10-Q.

Other Operating Expense, Net

Other operating expense, net was $21.7 million for the three month period ended March 31, 2025, a decrease of $3.5 million, compared to $25.2 million in the same three month period in 2024. The decrease in expense was primarily due to lower acquisition and other transaction related expenses of $5.5 million and lower restructuring charges of $4.4 million, partially offset by higher foreign currency transaction losses, net of $7.5 million.

Interest Expense

Interest expense was $61.2 million for the three month period ended March 31, 2025, an increase of $24.4 million, compared to $36.8 million in the same three month period in 2024. The increase was primarily due to an increase in long term debt primarily used to fund the ILC Dover acquisition, partially offset by the interest rate derivative contracts discussed in Note 13 “Hedging Activities and Derivative Instruments” to our unaudited condensed consolidated financial statements included elsewhere in this Form 10-Q. The weighted average interest rate, including the impact of the interest rate derivative contracts, was approximately 5.0% for the three month period ended March 31, 2025 and 5.3% in the same three month period in 2024.

Other Income, Net

Other income, net was $11.8 million and $13.2 million in the three month periods ended March 31, 2025 and 2024, respectively. The decrease was primarily due to a decrease in interest income from holdings of cash and cash equivalents.

Provision for Income Taxes

The provision for income taxes was $58.5 million, resulting in a 23.