Trane Technologies plc
For the period ended Dec 31, 2023. Filed Feb 8, 2024.
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FY2023 · Filed Feb 8, 2024
TT$420.82+0.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
In millions
| For the years ended December 31, | 2023 | 2022 | 2021 |
|---|---|---|---|
| Cash flows from operating activities: | |||
| Net earnings | $2,041.7 | $1,774.7 | $1,436.6 |
| Discontinued operations, net of tax | 27.2 | 21.5 | 20.6 |
| Adjustments for non-cash transactions: | |||
| Depreciation and amortization | 348.1 | 323.6 | 299.4 |
| Pension and other postretirement benefits | 51.0 | 55.6 | 50.8 |
| Stock settled share-based compensation | 64.3 | 56.3 | 66.5 |
| Other non-cash items, net | (32.7) | 17.1 | (36.4) |
| Changes in other assets and liabilities, net of the effects of acquisitions: | |||
| Accounts and notes receivable | (110.1) | (345.4) | (265.4) |
| Inventories | (96.4) | (466.7) | (348.8) |
| Other current and noncurrent assets | (152.3) | (116.8) | (153.8) |
| Accounts payable | (125.3) | 317.9 | 275.3 |
| Other current and noncurrent liabilities | 411.3 | 60.9 | 249.6 |
| Net cash provided by (used in) continuing operating activities | 2,426.8 | 1,698.7 | 1,594.4 |
| Net cash provided by (used in) discontinued operating activities | (37.2) | (194.7) | (6.1) |
| Net cash provided by (used in) operating activities | 2,389.6 | 1,504.0 | 1,588.3 |
| Cash flows from investing activities: | |||
| Capital expenditures | (300.7) | (291.8) | (223.0) |
| Acquisitions and equity method investments, net of cash acquired | (862.8) | (234.7) | (269.2) |
| Proceeds from sale of property, plant and equipment | 9.2 | 9.7 | 15.1 |
| Other investing activities, net | (17.9) | (23.0) | (68.6) |
| Net cash provided by (used in) continuing investing activities | (1,172.2) | (539.8) | (545.7) |
| Net cash provided by (used in) discontinued investing activities | — | (0.6) | — |
| Net cash provided by (used in) investing activities | (1,172.2) | (540.4) | (545.7) |
| Cash flows from financing activities: | |||
| Short-term borrowings (payments), net | (1.9) | — | — |
| Proceeds from long-term debt | 699.2 | — | — |
| Payments of long-term debt | (754.6) | (9.6) | (432.5) |
| Net proceeds from (payments of) debt | (57.3) | (9.6) | (432.5) |
| Debt issuance costs | (6.4) | (2.1) | (2.7) |
| Dividends paid to ordinary shareholders | (683.7) | (620.2) | (561.1) |
| Dividends paid to noncontrolling interests | (12.9) | (14.5) | (14.9) |
| Proceeds (payments) from shares issued under incentive plans, net | 79.3 | 2.6 | 78.3 |
| Repurchase of ordinary shares | (669.3) | (1,200.2) | (1,100.3) |
| Settlement related to special cash payment | — | (6.2) | (49.5) |
| Other financing activities, net | — | (2.0) | (44.9) |
| Net cash provided by (used in) financing activities | (1,350.3) | (1,852.2) | (2,127.6) |
| Effect of exchange rate changes on cash and cash equivalents | 7.7 | (50.1) | (45.7) |
| Net increase (decrease) in cash and cash equivalents | (125.2) | (938.7) | (1,130.7) |
| Cash and cash equivalents – beginning of period | 1,220.5 | 2,159.2 | 3,289.9 |
| Cash and cash equivalents – end of period | $1,095.3 | $1,220.5 | $2,159.2 |
| Cash paid during the year for: | |||
| Interest | $217.4 | $218.0 | $234.9 |
| Income taxes, net of refunds | $523.6 | $321.3 | $356.9 |
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