8-KRegulation FDExhibits & Filings

Trane Technologies plc 8-K Report, Regulation FD Disclosure (Jan 17, 2014)

Filed January 17, 2014For Securities:TT

Summary

Trane Technologies plc (formerly Ingersoll Rand plc) announced a significant organizational realignment effective with the reporting of fourth quarter 2013 results. This 8-K filing provides investors with updated segment reporting to reflect this change, focusing on two core business segments: Climate and Industrial. The revised segment results exclude the recently spun-off commercial and residential security businesses (Allegion™). This move aims to enhance focus on growth, streamline operations, and reduce complexity. The company is also providing supplemental non-GAAP financial information. This includes adjusted pro forma financial data that gives effect to the Allegion spin-off and other related transactions, as well as further non-GAAP adjustments. This information is intended to offer a clearer view of underlying business performance and facilitate historical comparisons. Investors should note that this information is provided for informational purposes and is not intended to project future results.

Key Highlights

  • 1New two-segment reporting structure: Climate and Industrial, effective for Q4 2013 results.
  • 2Organizational realignment designed to increase focus on growth, operational excellence, and cost reduction.
  • 3Historical segment results have been revised to reflect the new structure and exclude the Allegion spin-off.
  • 4Climate segment includes Trane & American Standard HVAC, and Thermo King transport temperature control.
  • 5Industrial segment includes compressed air systems, power tools, material handling, ARO, and Club Car vehicles.
  • 6Company is providing supplemental non-GAAP financial information to aid investor analysis.
  • 7Non-GAAP information is presented on an adjusted pro forma basis reflecting the Allegion spin-off.

Frequently Asked Questions

The company announced a realignment of its organizational structure to provide a greater focus on growth, continue implementation of business operating systems, build on operational excellence, and reduce complexity and costs.

Effective with the fourth quarter of 2013, the company will report financial performance based on two new reportable segments: 'Climate' (which includes HVAC and transport temperature control) and 'Industrial' (which includes compressed air systems, power tools, material handling, and vehicles).

The revised historical segment results presented in this filing exclude the results of the commercial and residential security businesses (Allegion™), which were spun off on December 1, 2013. This ensures consistency in reporting for the remaining businesses.

The company uses certain non-GAAP financial information to provide supplemental insights to management and investors regarding financial and business trends. This helps in assessing financial condition and results of operations, and allows for better comparisons with historical operating results and analysis of underlying performance.