Stockholders' Equity and Noncontrolling Interests

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Stockholders' Equity and Noncontrolling Interests

Stockholders’ Equity and Noncontrolling Interests

Stockholders’ Equity

As of December 31, 2024 and 2023, 1,000,000,000 shares of voting common stock were authorized. Shares of common stock outstanding were 402,880,079 and 403,347,394 as of December 31, 2024 and 2023, respectively. The Company is governed by the General Corporation Law of the State of Delaware. All authorized shares of voting common stock have a par value of $0.01. Shares of common stock reacquired are considered issued and reported as Treasury shares.

Noncontrolling Interests

The Company has a controlling interest of approximately 75% of the common shares of Ingersoll-Rand India Limited. The remaining shares are owned by unaffiliated shareholders and traded on India stock exchanges regulated by Securities and Exchange Board of India.

Share Repurchase Program

On August 24, 2021, the Board of Directors of Ingersoll Rand authorized a share repurchase program pursuant to which the Company may repurchase up to $750.0 million of its common stock, and on April 25, 2024, the Company announced that our Board of Directors approved an incremental $1.0 billion increase to the share repurchase authorization (the “Repurchase Program”). Under the repurchase program, Ingersoll Rand is authorized to repurchase shares through open market purchases, privately-negotiated transactions or otherwise in accordance with all applicable securities laws and regulations, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Securities Exchange Act of 1934, as amended.

Under the Repurchase Program, the Company repurchased 2,665,262 shares, 3,963,243 shares, and 5,673,937 shares during the years ended December 31, 2024, 2023, and 2022, respectively, at an average price per share of $93.80, $62.98, and $45.36 for an aggregate value of $250.0 million, $249.6 million, and $257.3 million, respectively.