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SCHEDULE I - FINANCIAL STATEMENTS
 12 Months Ended
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only
SCHEDULE 1 – INGERSOLL RAND INC.
(PARENT COMPANY ONLY)
STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(in millions)
For the Years Ended December 31,
202120202019
Revenues$— $— $— 
Cost of sales1.0 14.6 0.6 
Gross Profit(1.0)(14.6)(0.6)
Operating costs67.9 30.9 10.4 
Other operating expense, net(8.4)(4.9)(47.0)
Operating Income (Loss)(60.5)(40.6)36.0 
Interest income(28.8)42.5 42.3 
Income (Loss) Before Income Taxes(89.3)1.9 78.3 
Income tax provision (benefit)(18.1)(3.9)(5.1)
Income (Loss) of Parent Company(71.2)5.8 83.4 
Equity in undistributed income of subsidiaries592.1 (63.5)13.9 
Income (Loss) from Continuing Operations520.9 (57.7)97.3 
Income from discontinued operations, net of tax41.6 24.4 61.8 
Net Income (Loss)562.5 (33.3)159.1 
Other comprehensive income (loss)(54.3)270.2 (0.8)
Comprehensive Income$508.2 $236.9 $158.3 
SCHEDULE 1 – INGERSOLL RAND INC.
(PARENT COMPANY ONLY)
BALANCE SHEETS
(in millions)
As of December 31,
20212020
Assets
Current assets:
Cash and cash equivalents$— $— 
Other current assets— 0.4 
Total current assets— 0.4 
Equity in net assets of subsidiaries8,513.3 8,006.0 
Intercompany receivables484.1 1,107.3 
Deferred tax assets10.8 10.9 
Total assets$9,008.2 $9,124.6 
Liabilities and Equity
Other liabilities$6.7 $4.9 
Total liabilities6.7 4.9 
Stockholders’ equity:
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 423,785,571 and 420,123,978 shares issued as of December 31, 2021 and 2020, respectively
4.3 4.2 
Capital in excess of par value9,408.6 9,310.3 
Accumulated deficit378.6 (175.7)
Accumulated other comprehensive loss(41.6)14.2 
Treasury stock at cost; 16,000,364 and 1,496,169 shares as of December 31, 2021 and 2020, respectively
(748.4)(33.3)
Total Ingersoll Rand Inc. stockholders’ equity
9,001.5 9,119.7 
Total liabilities and equity$9,008.2 $9,124.6 
SCHEDULE 1 – INGERSOLL RAND INC.
(PARENT COMPANY ONLY)
CONDENSED STATEMENTS OF CASH FLOWS
(in millions)
For the Years Ended December 31,
202120202019
Cash Flows From Operating Activities:
Net cash provided by (used in) operating activities$(9.7)$(15.1)$(15.1)
Cash Flows From Investing Activities:
Advances to subsidiaries731.0 (2.5)(10.1)
Net cash provided by (used in) investing activities731.0 (2.5)(10.1)
Cash Flows From Financing Activities:
Proceeds from stock option exercises23.7 22.7 42.8 
Cash dividends on common stock(8.2)— — 
Purchases of treasury stock(736.8)(2.1)(18.6)
Purchase of shares from noncontrolling interest— (14.9)— 
Proceeds from sale of noncontrolling interest— 11.9 — 
Net cash provided by (used in) financing activities(721.3)17.6 24.2 
Increase (decrease) in cash and cash equivalents— — (1.0)
Cash and cash equivalents, beginning of year— — 1.0 
Cash and cash equivalents, end of year$— $— $— 
SCHEDULE I - INGERSOLL RAND INC.
(PARENT COMPANY ONLY)
NOTES TO CONDENSED FINANCIAL STATEMENTS
1. Overview and Basis of Presentation
On February 29, 2020, Ingersoll Rand Inc. (formerly known as Gardner Denver Holdings, Inc.) completed the acquisition of and merger with Ingersoll Rand Industrial (“Ingersoll Rand Industrial”) and changed its name from Gardner Denver Holdings, Inc. to Ingersoll Rand Inc.
Ingersoll Rand Inc. Parent Company Only financial information has been derived from its consolidated financial statements and should be read in conjunction with the consolidated financial statements included in this report. The accounting policies for the registrant are the same as those described in Note 1 “Summary of Significant Accounting Policies” to our audited consolidated financial statements included elsewhere in this Form 10-K.
2. Subsidiary Transactions
Investment in Subsidiaries
Ingersoll Rand Inc.’s investment in subsidiaries is stated at cost plus equity in undistributed earnings of subsidiaries.
Dividends and Capital Distributions
There were no dividends received from subsidiaries during the years ended December 31, 2021, 2020 and 2019.
3. Debt
A discussion of long-term debt, including the five-year debt maturity schedule, can be found in Note 11 “Debt” to our audited consolidated financial statements included elsewhere in this Form 10-K. Ingersoll Rand Inc. had no long-term debt obligations as of December 31, 2021 and 2020.
4. Contingencies
For a summary of contingencies, see Note 21 “Contingencies” to our audited consolidated financial statements included elsewhere in this Form 10-K.