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Segment Reporting
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
A description of the Company’s two reportable segments, including the specific products manufactured and sold follows below. When determining the reportable segments, we aggregate operating segments based on their similar economic and operating characteristics.
In the Industrial Technologies and Services segment, the Company designs, manufactures, markets and services a broad range of compression and vacuum equipment as well as fluid transfer equipment, and loading systems. The Company’s compression and vacuum products are used worldwide in industrial manufacturing, transportation, chemical processing, food and beverage production, clean energy, environmental and other applications. In addition to equipment sales, the Company offers a broad portfolio of service options tailored to customer needs and complete range of aftermarket parts, air treatment equipment, controls and other accessories. The Company’s engineered loading systems and fluid transfer equipment ensure the safe handling and transfer of crude oil, liquefied natural gas, compressed natural gas, chemicals, and bulk materials.
In the Precision and Science Technologies segment, the Company designs, manufactures and markets a broad range of specialized positive displacement pumps, fluid management equipment, single-use powder handling systems, and contract design and production services for silicone, thermoplastic, and specialty components and assemblies for medical devices. These products are used in medical, laboratory, industrial manufacturing, water and wastewater, chemical processing, clean energy, food and beverage, agriculture and other markets. The Company’s products are used for a diverse set of applications including precision dosing, liquid and solid transfer, dispensing, gas compression, gas sampling, pressure management, flow control, and powder handling, amongst other applications. The Company sells primarily through a broad global network of specialized and national distributors and original equipment manufacturers who integrate the Company’s products into their devices and systems.
Ingersoll Rand’s Chief Operating Decision Maker (“CODM”) is our Chief Executive Officer. The CODM evaluates the performance of the Company’s segments based on Segment Adjusted EBITDA. The CODM closely monitors the Segment Adjusted EBITDA of each segment to evaluate past performance and actions required to improve profitability. Inter-segment sales and transfers are not significant. Certain administrative expenses related to the Company’s corporate offices and shared service centers in the United States and Europe, which includes transaction processing, accounting and other business support functions, are allocated to the segments and are included in Segment selling and administrative expenses. Certain other administrative expenses, including senior management compensation, treasury, internal audit, tax compliance, certain information technology, and other corporate functions, are not allocated to the segments to determine Segment Adjusted EBITDA.
The following table provides summarized information about the Company’s operations by reportable segment and reconciles Segment Adjusted EBITDA to Income Before Income Taxes for the three and six month periods ended June 30, 2025 and 2024.
Industrial Technologies and ServicesPrecision and Science TechnologiesTotal
Three Month Period Ended June 30,
202520242025202420252024
Revenue$1,491.6 $1,466.5 $396.3 $338.8 $1,887.9 $1,805.3 
Segment cost of sales(1)
824.9 808.7 202.4 173.5 1,027.3 982.2 
Segment selling and administrative expenses(2)
241.6 221.5 77.2 63.0 318.8 284.5 
Other segment items(3)
(2.1)0.1 (0.1)(0.2)(2.2)(0.1)
Segment Adjusted EBITDA$427.2 $436.2 $116.8 $102.5 $544.0 $538.7 
(1)Segment cost of sales excludes adjustments to LIFO inventories, depreciation and amortization expense, restructuring and related business transformation costs, acquisition and other transaction related expenses and non-cash charges.
(2)Segment selling and administrative expenses excludes depreciation and amortization expense, restructuring and related business transformation costs, acquisition and other transaction related expenses and non-cash charges.
(3)Other miscellaneous segment expenses (income).
Industrial Technologies and ServicesPrecision and Science TechnologiesTotal
Six Month Period Ended June 30,
202520242025202420252024
Revenue$2,843.7 $2,839.9 $761.0 $635.5 $3,604.7 $3,475.4 
Segment cost of sales(1)
1,554.8 1,551.5 391.0 321.5 1,945.8 1,873.0 
Segment selling and administrative expenses(2)
473.3 441.1 147.1 120.4 620.4 561.5 
Other segment items(3)
(0.7)— (0.1)(0.3)(0.8)(0.3)
Segment Adjusted EBITDA$816.3 $847.3 $223.0 $193.9 $1,039.3 $1,041.2 
(1)Segment cost of sales excludes adjustments to LIFO inventories, depreciation and amortization expense, restructuring and related business transformation costs, acquisition and other transaction related expenses and non-cash charges.
(2)Segment selling and administrative expenses excludes depreciation and amortization expense, restructuring and related business transformation costs, acquisition and other transaction related expenses and non-cash charges.
(3)Other miscellaneous segment expenses (income).
For the Three Month Period Ended June 30,For the Six Month Period Ended June 30,
2025202420252024
Total Segment Adjusted EBITDA$544.0 $538.7 $1,039.3 $1,041.2 
Less items to reconcile Segment Adjusted EBITDA to Income Before Income Taxes:
Corporate expenses not allocated to segments34.6 44.1 $70.2 $88.1 
Interest expense62.7 50.8 123.9 87.6 
Depreciation and amortization expense (a)
119.2 115.8 238.1 232.1 
Impairment of goodwill and other intangible assets265.8 — 265.8 — 
Restructuring and related business transformation costs (b)
3.4 3.9 8.8 14.6 
Acquisition and other transaction related expenses and non-cash charges (c)
11.8 27.7 21.6 43.0 
Stock-based compensation16.7 14.5 30.9 28.6 
Foreign currency transaction losses (gains), net6.0 — 12.8 (0.7)
Loss on extinguishment of debt— 3.0 — 3.0 
Adjustments to LIFO inventories7.3 0.4 10.3 7.2 
Cybersecurity incident costs (d)
(1.1)(0.1)(1.3)0.5 
Loss on asbestos sale— 58.8 — 58.8 
Interest income on cash and cash equivalents(8.9)(16.3)(19.2)(27.7)
Other adjustments (e)
(1.6)— (3.8)0.4 
Income Before Income Taxes28.1 236.1 281.2 505.7 
Provision for income taxes21.0 46.1 79.5 100.5 
Loss on equity method investments(120.9)(3.5)(127.1)(14.2)
Net Income (Loss)$(113.8)$186.5 $74.6 $391.0 
a)Depreciation and amortization expense excludes $1.3 million and $1.1 million of depreciation of rental equipment for the three month periods ended June 30, 2025 and 2024, respectively, and excludes $2.4 million and $2.0 million for the six month periods ended June 30, 2025 and 2024, respectively.
b)Restructuring and related business transformation costs consist of the following.
For the Three Month Period Ended June 30,For the Six Month Period Ended June 30,
2025202420252024
Restructuring charges$3.2 $3.9 $8.5 $13.6 
Facility reorganization, relocation and other costs0.2 — 0.3 1.0 
Total restructuring and related business transformation costs$3.4 $3.9 $8.8 $14.6 
c)Represents costs associated with successful and abandoned acquisitions, including third-party expenses, post-closure integration costs and non-cash charges and credits arising from fair value purchase accounting adjustments.
d)Represents non-recoverable costs associated with a cybersecurity event.
e)Includes (i) pension and other postemployment plan costs other than service cost and (ii) other miscellaneous adjustments.

The following tables provide summarized information about the Company’s reportable segments.
Depreciation and Amortization Expense
For the Three Month Period Ended June 30,For the Six Month Period Ended June 30,
2025202420252024
Industrial Technologies and Services$68.5 $75.4 $136.1 $156.3 
Precision and Science Technologies50.9 38.4 102.1 71.8 
Corporate and other1.1 3.1 2.3 6.0 
Total depreciation and amortization expense$120.5 $116.9 $240.5 $234.1 
Capital Expenditures
For the Three Month Period Ended June 30,For the Six Month Period Ended June 30,
2025202420252024
Industrial Technologies and Services$17.1 $15.1 $43.5 $35.3 
Precision and Science Technologies14.6 3.0 21.5 8.3 
Corporate and other3.5 3.7 3.9 40.5 
Total capital expenditures$35.3 $21.8 $69.0 $84.1 
Identifiable Assets
June 30, 2025December 31, 2024
Industrial Technologies and Services$10,904.1 $10,369.6 
Precision and Science Technologies5,738.5 5,884.1 
Corporate and other1,416.5 1,756.1 
Total identifiable assets$18,059.1 $18,009.8