Company: IR
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001628280-25-047838
Chunk: 35

Company: Ingersoll Rand Inc.
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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-term debt:Carrying amount of hedged debt$1,024.3 $749.7 Cumulative hedging adjustments, included in carrying amount24.3 (0.3)Interest Rate Swap and Cap Contracts Designated as Cash Flow HedgesIn April 2024, the Company entered into forward-starting interest rate swap agreements to hedge against changes in future cash flows resulting from changes in interest rates from the trade date through the forecasted issuance date of debt. During the second quarter of 2024, the Company entered into and terminated cash flow hedges with notional value of $750.0 million in connection with the 2034 Notes and $500.0 million in connection with the 2054 Notes, both of which were issued on May 10, 2024. The Company and its counterparties terminated these contracts in May 2024. Prior to their termination, these swap agreements qualified as hedging instruments and were designated as cash flow hedges of forecasted interest payments. These forecasted 

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interest payments are still expected to occur as specified in the Company’s hedge designations; therefore, the unrecognized loss at the time of termination will be reclassified into earnings over the term of the respective notes. The unrecognized loss in AOCI as of September 30, 2025 was $4.0 million, of which $0.3 million is expected to be reclassified into earnings as an increase to interest expense during the next 12 months.Gains on derivatives designated as cash flow hedges included in the Condensed Consolidated Statements of Comprehensive Income (Loss) for the three and nine month periods ended September 30, 2025 and 2024 are as presented in the table below.For the Three Month Period Ended September 30,For the Nine Month Period Ended September 30,2025202420252024Gain recognized in OCI on derivatives$— $— $— $1.6 Gain (loss) reclassified from AOCI into income (effective portion)(1)(0.1)3.6 5.9 12.4 (1)Gains (losses) on derivatives reclassified from AOCI into income were included within “Interest expense” in the Condensed Consolidated Statements of Operations.Cross-Currency Interest Rate Swap Contracts Designated as Net Investment HedgesIn February 2025, the Company entered into a cross-currency interest rate swap contract that replace a fixed rate of 5.2% on a