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(a) Restructuring/Other in 2025 and 2024 includes restructuring amounts unless specified otherwise. Restructuring/Other within Americas in 2025 includes $61.2M non cash adjustment for contingent consideration. Restructuring/Other within Americas in 2024 includes $25.0M non cash adjustment for contingent consideration.
Read in the filing ↗ Also in 8-K of Apr 30, 2026, 8-K of Jan 29, 2026, 8-K of Jul 30, 2026, 8-K of Oct 29, 2026, 8-K of Jul 30, 2025
(a) Restructuring/Other in 2025 and 2024 includes restructuring amounts unless specified otherwise.
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(a) Restructuring/Other within Americas in 2024 includes $16.1 million non-cash adjustment for contingent consideration. Restructuring/Other with Americas in 2023 $10 million insurance settlement on a property claim.
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(b) Restructuring/Other within Corporate in 2026 includes $12.5 million of M&A transaction costs. Restructuring/Other within Corporate in 2025 includes $2.0 million of M&A transaction costs.
Read in the filing ↗ Also in 8-K of Jul 30, 2026, 8-K of Oct 29, 2026, 8-K of Jul 30, 2025, 8-K of Oct 30, 2025
(b) Restructuring/Other within Corporate in 2025 includes $2M of M&A transaction costs. Restructuring/ Other within Corporate in 2024 includes $1.1M of legacy legal liability. SEE ATTACHED RELEASE FOR ADDITIONAL INFORMATION Table 5
Read in the filing ↗ Also in 8-K of Jan 29, 2026, 8-K of Jan 29, 2026
(a) Restructuring/Other within Americas includes ($8.9) million of a non-cash adjustment for contingent consideration in 2024. Restructuring/Other includes ($52) million non-cash adjustment for contingent consideration and acquisition inventory step-up and backlog amortization of $1.0 million in 2023.
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(b) Restructuring/Other within Corporate in 2024 includes $1.1M of legacy legal liability and $2.5M of M&A transaction costs. Restructuring/Other within Corporate in 2023 includes $1.2M of transformation costs and $4.5M of M&A transaction costs. SEE ATTACHED RELEASE FOR ADDITIONAL INFORMATION Table 5
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(a) Restructuring/Other within Americas in 2024 includes $25.0M non cash adjustment for contingent consideration. Restructuring/Other within Americas in 2023 includes a $49.3M non cash adjustment for contingent consideration, a $10.0M insurance settlement on a property claim and $1.2M of acquisition inventory step-up and backlog amortization.
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(f) Restructuring/Other within Asia Pacific includes acquisition backlog amortization of $0.4 million in 2023.
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(a) Restructuring/Other within Americas in 2025 includes $61.2M non-cash adjustment for contingent consideration.
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(d) Restructuring/Other within EMEA includes acquisition inventory step-up and backlog amortization of $6.1 million in 2023.
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(a) Restructuring/Other within Americas in 2023 includes acquisition inventory step-up and backlog amortization of $0.2 million.
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(c) Restructuring/Other within EMEA in 2023 includes acquisition inventory step- up and backlog amortization of $8.2 million.
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in 2024 is defined as GAAP operating income adjusted for restructuring costs and legacy legal liability. Adjusted operating income in 2023 is defined as GAAP operating income adjusted for restructuring costs, transformation costs, a non- cash adjustment for contingent consideration and merger and acquisition related costs. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2, 3 and 4 of the news release.
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in 2026 is defined as GAAP operating income adjusted for merger and acquisition transaction costs, amortization of acquired backlog intangible asset and restructuring costs. Adjusted operating income in 2025 is defined as GAAP operating income adjusted for restructuring costs, merger and acquisition transaction costs and a non-cash adjustment for contingent consideration. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2, 3 and 4 of the news release.
Read in the filing ↗ Also in 8-K of Oct 29, 2026
(b) Depreciation and amortization within Americas excludes $0.4M of acquisition backlog amortization in 2023 which has been accounted for in the Restructuring/Other line.
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(e) Depreciation and amortization within EMEA excludes $10.9M of acquisition backlog amortization in 2023 which has been accounted for in the Restructuring/Other line.
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(b) Depreciation and amortization within Americas in 2023 excludes $0.4M of acquisition backlog amortization, which has been accounted for in the Restructuring/Other line.
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(e) Depreciation and amortization within EMEA in 2023 excludes $10.9M of acquisition backlog amortization, which has been accounted for in the Restructuring/Other line.
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(b) Depreciation and amortization within Americas excludes $0.3 million of acquisition backlog amortization which has been accounted for in the Restructuring/Other line in 2023.
Read in the filing ↗ Also in 8-K of Jul 31, 2024
(d) Depreciation and amortization within Asia Pacific excludes $0.4M of acquisition backlog amortization which has been accounted for in the Restructuring/Other line in 2022
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(e) Depreciation and amortization within EMEA excludes acquisition backlog amortization of $4.4 million, which has been accounted for in the Restructuring/Other line in 2023.
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(b) Depreciation and amortization within Americas in 2023 excludes $0.3 million of acquisition backlog amortization, which has been accounted for in the Restructuring/Other line.
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(d) Depreciation and amortization within EMEA in 2023 excludes acquisition backlog amortization of $6.5 million, which has been accounted for in the Restructuring/Other line.
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(g) Depreciation and amortization within Asia Pacific in 2023 excludes $0.8M of acquisition backlog amortization, which has been accounted for in the Restructuring/Other line.
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in 2024 is defined as GAAP continuing EPS adjusted for net of tax impacts of restructuring costs and legacy legal liability. Adjusted continuing EPS in 2023 is defined as GAAP continuing EPS adjusted for net of tax impacts of restructuring costs, transformation costs, a non-cash adjustment for contingent consideration and merger and acquisition related costs. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2 and 3 of the news release.
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in 2025 is defined as GAAP operating income adjusted for restructuring costs, merger and acquisition transaction costs, and a non-cash adjustment for contingent consideration. Adjusted operating income in 2024 is defined as GAAP operating income adjusted for restructuring costs, merger and acquisition transaction costs, legacy legal liability, and a non-cash adjustment for contingent consideration. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2, 3 and 4 of the news release.
Read in the filing ↗ Also in 8-K of Oct 30, 2025, 8-K of Jan 29, 2026
(d) Depreciation and amortization within Europe exclude s $6.5 million of acquisition backlog amortization which has been accounted for in the Restructuring/Other line in 2023.
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(d) Depreciation and amortization within Asia Pacific excludes $0.4 million of acquisition backlog amortization which has been accounted for in the Restructuring/Other line in 2023.
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(g) Depreciation and amortization within Asia Pacific excludes $0.4 million of acquisition backlog amortization, which has been accounted for in the Restructuring/Other line in 2023.
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in 2024 is defined as GAAP operating income adjusted for restructuring costs, a non-cash adjustment for contingent consideration, merger and acquisition related costs, and legacy legal liability. Adjusted operating income in 2023 is defined as GAAP operating income adjusted for restructuring costs, transformation costs, a non-cash adjustment for contingent consideration and merger and acquisition related costs. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2, 3 and 4 of the news release.
Read in the filing ↗ Also in 8-K of Oct 30, 2024, 8-K of Jan 30, 2025
in 2026 is defined as net cash provided by (used in) continuing operating activities adjusted for capital expenditures, cash payments for restructuring costs and merger and acquisition transaction costs. Free cash flow in 2025 is defined as net cash provided by (used in) continuing operating activities adjusted for capital expenditures, cash payments for restructuring costs, legacy legal liability, and merger and acquisition transaction costs. Please refer to the free cash flow reconciliation on table 8 of the news release.
Read in the filing ↗ Also in 8-K of Jul 30, 2026, 8-K of Apr 30, 2024, 8-K of Jul 31, 2024, 8-K of Oct 30, 2024, 8-K of Oct 29, 2026, 8-K of Apr 30, 2025, 8-K of Jul 30, 2025, 8-K of Oct 30, 2025, 8-K of Jan 30, 2025, 8-K of Jan 29, 2026, 8-K of Nov 1, 2023, 8-K of Feb 1, 2024
(c) Depreciation and amortization within Americas in 2026 excludes $7.2 million of amortization of acquired backlog intangible asset, which has been included in the Restructuring/Other line.
Read in the filing ↗ Also in 8-K of Jul 30, 2026, 8-K of Oct 29, 2026
We incur costs associated with restructuring initiatives intended to result in improved operating performance, profitability and working capital levels. Actions associated with these initiatives may include workforce reductions, improving manufacturing productivity, realignment of management structures and rationalizing certain assets. We believe that our existing cash balances, anticipated cash flow from operations, committed credit lines and access to the capital markets will be sufficient to fund share repurchases, dividends, research and development, sustaining activities, business portfolio changes and ongoing restructuring actions.
Read in the filing ↗ Also in 10-Q of Jul 30, 2025, 10-Q of Oct 30, 2025, 10-K of Feb 5, 2026, 10-Q of Apr 30, 2026, 10-Q of Jul 30, 2026, 10-Q of Oct 29, 2026
for 2025 is defined as the ratio of income tax expense adjusted for the net tax effect of adjustments for restructuring costs and merger and acquisition transaction costs divided by adjusted net earnings. Adjusted effective tax rate for 2024 is defined as the ratio of income tax expense adjusted for the net tax effect of adjustments for restructuring costs, merger and acquisition transaction costs, and legacy legal liability divided by adjusted net earnings. This measure allows for a direct comparison of the effective tax rate between periods.
Read in the filing ↗ Also in 8-K of Apr 30, 2024, 8-K of Oct 30, 2025, 8-K of Jul 31, 2024, 8-K of Jan 29, 2026, 8-K of Nov 1, 2023
(g) Depreciation and amortization within Asia Pacific excludes $0.8M and $0.4M of acquisition backlog amortization in 2023 and 2022, respectively, which has been accounted for in the Restructuring/Other line.
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for 2026 is defined as the ratio of income tax expense adjusted for the net tax effect of adjustments for merger and acquisition transaction costs, amortization of acquired backlog intangible asset and restructuring costs divided by adjusted net earnings. Adjusted effective tax rate for 2025 is defined as the ratio of income tax expense adjusted for the net tax effect of adjustments for restructuring costs and merger and acquisition transaction costs divided by adjusted net earnings. This measure allows for a direct comparison of the effective tax rate between periods.
Read in the filing ↗ Also in 8-K of Oct 29, 2026
in 2023 is defined as GAAP operating income adjusted for restructuring costs, transformation costs, non-cash adjustment for contingent consideration and merger and acquisition related costs. Adjusted operating income in 2022 is defined as GAAP operating income adjusted for restructuring costs, transformation costs, merger and acquisition related costs, non-cash adjustment for contingent consideration, a settlement charge for a retired executive and an insurance settlement on a property claim in Q3 2022. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2, 3 and 4 of the news release.
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in 2024 is defined as GAAP continuing EPS adjusted for net of tax impacts of restructuring costs, a non-cash adjustment for contingent consideration, merger and acquisition related costs, and legacy legal liability. Adjusted continuing EPS in 2023 is defined as GAAP continuing EPS adjusted for an impairment of equity investment and the net of tax impacts of restructuring costs, transformation costs, a non-cash adjustment for contingent consideration and merger and acquisition related costs. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2 and 3 of the news release.
Read in the filing ↗ Also in 8-K of Oct 30, 2024, 8-K of Jan 30, 2025
in 2025 is defined as GAAP continuing operations attributable to Trane Technologies plc adjusted for net of tax impacts of restructuring costs, merger and acquisition transaction costs, and a non-cash adjustment for contingent consideration. Adjusted continuing EPS in 2024 is defined as GAAP continuing operations attributable to Trane Technologies plc adjusted for net of tax impacts of restructuring costs, merger and acquisition transaction costs, legacy legal liability, and a non-cash adjustment for contingent consideration. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2 and 3 of the news release.
Read in the filing ↗ Also in 8-K of Oct 30, 2025, 8-K of Oct 29, 2026, 8-K of Jul 30, 2026
in 2023 is defined as GAAP operating income adjusted for restructuring costs, transformation costs, merger and acquisition related costs, non-cash adjustment for contingent consideration and an insurance settlement on a property claim. Adjusted operating income in 2022 is defined as GAAP operating income adjusted for restructuring costs, transformation costs, merger and acquisition related costs, non-cash adjustments for contingent consideration, a settlement charge for a compensation related payment to a retired executive, and an insurance settlement on a property claim. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2, 3 and 4 of the news release.
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Adjusted earnings from continuing operations attributable to Trane Technologies plc (Adjusted net earnings) in 2024 is defined as GAAP earnings from continuing operations attributable to Trane Technologies plc adjusted for net of tax impacts of restructuring costs and legacy legal liability. Adjusted net earnings in 2023 is defined as GAAP earnings from continuing operations attributable to Trane Technologies plc adjusted for net of tax impacts of restructuring costs, transformation costs, a non-cash adjustment for contingent consideration and merger and acquisition related costs. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2 and 3 of the news release.
Read in the filing ↗ Also in 8-K of Jul 30, 2025, 8-K of Oct 30, 2025, 8-K of Jul 30, 2026, 8-K of Oct 29, 2026
in 2025 is defined as GAAP continuing EPS adjusted for net of tax impacts of restructuring costs, merger and acquisition transaction costs, a non-cash adjustment for contingent consideration, and a non-cash settlement charge related to the transfer of a pension liability to an insurance company. Adjusted continuing EPS in 2024 is defined as GAAP continuing EPS adjusted for net of tax impacts of restructuring costs, legacy legal liability, merger and acquisition transaction costs, a non-cash adjustment for contingent consideration, and a U.S. discrete tax benefit. Please refer to the reconciliation of GAAP to non- GAAP measures on tables 2 and 3 of the news release.
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for 2024 is defined as the ratio of income tax expense adjusted for a U.S. discrete tax benefit and the net tax effect of adjustments for restructuring costs, a non-cash adjustment for contingent consideration, merger and acquisition related costs, and legacy legal liability divided by adjusted net earnings. Adjusted effective tax rate for 2023 is defined as the ratio of income tax expense adjusted for the net tax effect of adjustments for restructuring costs, transformation costs, a non-cash adjustment for contingent consideration, and merger and acquisition related costs divided by adjusted net earnings. This measure allows for a direct comparison of the effective tax rate between periods.
Read in the filing ↗ Also in 8-K of Jan 30, 2025
10.30* Amended and Restated Major Restructuring Severance Plan (as amended and restated effective May 4, 2020). Incorporated by reference to Exhibit 10.27 to the Company's 2020 Form 10-K (File No. 001-34400) filed with the SEC on February 9, 2021.
Read in the filing ↗ Also in 10-K of Feb 5, 2026
in 2023 is defined as GAAP continuing EPS adjusted for an impairment of equity investment and the net of tax impacts of restructuring costs, transformation costs, a non-cash adjustment for contingent consideration and merger and acquisition related costs. Adjusted continuing EPS in 2022 is defined as GAAP continuing EPS adjusted for net of tax impacts of restructuring costs, transformation costs, merger and acquisition related costs, a non-cash adjustment for contingent consideration, a settlement charge for a retired executive, an insurance settlement on a property claim in Q3 2022, and a U.S. discrete non-cash tax adjustment. Please refer to the reconciliation of GAAP to non-GAAP measures on tables 2 and 3 of the news release.
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