Company: IR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047838
Chunk: 45

Company: Ingersoll Rand Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 in the future related to unsatisfied (or partially satisfied) performance obligations of $789.2 million in the next twelve months and $804.2 million in periods thereafter. The performance obligations that are unsatisfied (or partially satisfied) are primarily related to orders for goods or services that were placed prior to the end of the reporting period and have not been delivered to the customer, on-going work on ETO contracts where revenue is recognized over time and service contracts with an original duration greater than one year.Contract BalancesThe following table provides the contract balances as of September 30, 2025 and December 31, 2024 presented in the Condensed Consolidated Balance Sheets.September 30, 2025December 31, 2024Accounts receivable, net$1,429.3 $1,335.4 Contract assets128.8 111.2 Contract liabilities - current341.9 318.6 Contract liabilities - noncurrent1.1 0.9 

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Note 16. Income Taxes

The following table summarizes the Company’s provision for income taxes and effective income tax provision rate for the three and nine month periods ended September 30, 2025 and 2024.For the Three Month Period Ended September 30,For the Nine Month Period Ended September 30,2025202420252024Income before income taxes$319.4 $302.0 $600.6 $807.7 Provision for income taxes$73.6 $73.8 $153.1 $174.3 Effective income tax provision rate23.0%24.4%25.5%21.6%The decrease in the provision for income taxes and decrease in the effective income tax provision rate for the three month period ended September 30, 2025 when compared to the same three month period of 2024 is primarily due to a decrease in the pretax book income in jurisdictions with higher effective tax rates combined with increased earnings in jurisdictions with lower tax rates.

The decrease in the provision for income taxes and increase in the effective income tax provision rate for the nine month period ended September 30, 2025 when compared to the same nine month period of 2024 is primarily due to nondeductible impairment of goodwill, tradenames, and equity investment and a lower benefit from a windfall tax deduction in