Company: IR
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001628280-25-006391
Chunk: 70

Company: Ingersoll Rand Inc.
Filing Date: 2025-02-19
Form: 10-K
Item: Item 8
Chunk 70
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 developed over more than 160 years. The acquisition is intended to expand the Company’s blower product portfolio and benefit from Roots’ robust technical capabilities and exposure to growing sustainability-related applications. Roots has been reported within the Industrial Technologies and Services segment. The goodwill arising from the acquisition is attributable to revenue and cost synergies, anticipated growth of new and existing customers, and the assembled workforce. This goodwill is expected to be deductible for tax purposes.

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The Company acquired 10 additional businesses in 2023 for aggregate consideration of $83.3 million. These primarily consist of manufacturers and distributors of existing and adjacent offerings in the Industrial Technologies and Services segment.Of the goodwill recognized on our 2023 acquisitions, $159.9 million is expected to be deductible for tax purposes.The following table summarizes the allocation of consideration for all businesses acquired in 2023 to the fair values of identifiable assets acquired and liabilities assumed at the acquisition dates. Initial accounting for all 2023 acquisitions is complete.Air TreatmentRootsAll OthersTotalAccounts receivable$26.1 $14.5 $11.7 $52.3 Inventories43.9 34.2 21.0 99.1 Other current assets2.1 2.9 6.2 11.2 Property, plant and equipment18.4 42.0 5.0 65.4 Goodwill279.9 105.6 126.7 512.2 Other intangible assets238.6 116.9 25.4 380.9 Other noncurrent assets7.6 3.1 0.4 11.1 Total current liabilities(35.9)(26.9)(19.5)(82.3)Deferred tax liabilities(54.8)— (3.9)(58.7)Other noncurrent liabilities(6.9)(2.3)(4.5)(13.7)Total consideration$519.0 $290.0 $168.5 $977.5 Acquisition Revenues and Operating IncomeThe revenues included in the consolidated financial statements for these acquisitions subsequent to their acquisition date were $408.0 million and $293.7 million, respectively, for the years ended December 31, 2024 and 2023. The operating income included in the consolidated financial statements for these acquisitions subsequent to their acquisition date was $58.8 million and $16.1 million, respectively