Company: IR
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001628280-25-037049
Chunk: 84

Company: Ingersoll Rand Inc.
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 1
Chunk 84
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 30, 2025, a decrease of $68.3 million, compared to $88.2 million in the same three month period in 2024. The decrease in expense was primarily due to the loss on asbestos sale of $58.8 million in the 2024 period that didn't recur in the 2025 period, lower acquisition and other transaction related expenses of $14.1 million and lower restructuring charges of $0.7 million, partially offset by higher foreign currency transaction losses, net of $6.0 million. See Note 17 “Other Operating Expenses, net” to our unaudited condensed consolidated financial statements included elsewhere in this Form 10-Q for further discussion of the loss on asbestos sale.

Other operating expense, net was $41.6 million for the six month period ended June 30, 2025, a decrease of $71.8 million, compared to $113.4 million in the same six month period in 2024. The decrease was primarily due to the loss on asbestos sale of $58.8 million in the 2024 period that didn't recur in the 2025 period, lower acquisition and other transaction related expenses and non-cash charges of $19.6 million, lower restructuring charges of $5.1 million, and higher foreign currency transaction losses, net of $13.5 million. See Note 17 “Other Operating Expenses, net” to our unaudited condensed consolidated financial statements included elsewhere in this Form 10-Q for further discussion of the loss on asbestos sale.

41

Interest Expense

Interest expense was $62.7 million for the three month period ended June 30, 2025, an increase of $11.9 million, compared to $50.8 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 June 30, 2025 and 5.2% in the same three month period in 2024.

Interest expense was $123.9 million for the six month period ended June 30, 2025, an increase of