8-KRegulation FDExhibits & Filings

Trane Technologies plc 8-K Report, Regulation FD Disclosure (May 21, 2020)

Filed May 21, 2020For Securities:TT

Summary

Trane Technologies plc (TT) filed an 8-K on May 21, 2020, primarily to disclose updated segment reporting following the separation of its Industrial segment (Ingersoll Rand Industrial) on February 29, 2020. The company has implemented a new organizational and business segment structure focused on enhancing regional go-to-market capabilities and climate innovation. This revised structure features three new regional operating segments: Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific. The filing includes recast historical segment results (Exhibit 99.1) for these new segments, reflecting only continuing operations and excluding the divested Industrial segment. This information is provided to offer the financial community a consistent basis for analyzing historical performance in line with the new reporting structure. Additionally, the company is providing selected adjusted non-GAAP financial information (Exhibit 99.2) to supplement historical data and facilitate comparisons.

Key Highlights

  • 1Trane Technologies plc has established a new three-segment reporting structure: Americas, EMEA, and Asia Pacific, to align with its strategy and focus on climate innovation.
  • 2The filing provides recast historical segment results for continuing operations under this new structure, excluding the divested Ingersoll Rand Industrial segment.
  • 3The updated segment reporting aims to enhance regional go-to-market capabilities and provide deeper customer focus.
  • 4Exhibit 99.1 contains recast historical segment results for various quarters in 2018 and 2019.
  • 5Exhibit 99.2 presents selected adjusted non-GAAP financial information derived from the recast data.
  • 6This information supplements prior disclosures, including unaudited pro forma financial statements and annual segment information.
  • 7The company emphasizes that the non-GAAP measures are for informational purposes and do not project future results.

Frequently Asked Questions

Trane Technologies plc is filing this 8-K primarily to disclose a new organizational model and business segment structure. This follows the separation of its Industrial segment (Ingersoll Rand Industrial) and is designed to align with the company's strategy, enhance regional go-to-market capabilities, and focus on climate innovation.

The company has established three new regional operating segments: Americas, Europe, Middle East and Africa (EMEA), and Asia Pacific. These segments represent continuing operations and exclude the divested Industrial segment.

Exhibit 99.1 provides historical segment results recast to reflect the new reporting structure. This allows investors and the financial community to analyze historical performance on a basis consistent with the current organizational setup, excluding discontinued operations from the divested Industrial segment.

This specific 8-K filing primarily focuses on disclosing the new segment structure and providing recast historical financial data (Exhibit 99.1) and selected adjusted non-GAAP financial information (Exhibit 99.2). It does not present the company's most recent quarterly financial results, which would typically be found in a quarterly earnings release or a subsequent 10-Q filing.