Adjustments to Current Assets
Adjustments to Total Assets
Adjustments to Current Liabilities
Adjustments to Total Liabilities
Adjustments to Stockholders’ Equity
Adjustments to Capitalization Table
Adjustments to Revenues
Adjustments to Reported Income

Trane Technologies plc, adjusted current assets

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Current assets	6,379,200)	6,470,900)	6,905,600)	6,217,200)	5,732,000)
Adjustments
Add: Allowance for credit losses	43,700)	39,900)	40,000)	42,200)	32,700)
Add: LIFO reserve¹	129,900)	72,600)	41,100)	85,600)	83,500)
After Adjustment
Adjusted current assets	6,552,800)	6,583,400)	6,986,700)	6,345,000)	5,848,200)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ LIFO reserve. See details »

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Trane Technologies plc, adjusted total assets

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Total assets	18,081,600)	18,059,800)	18,156,700)	20,492,300)	17,914,900)
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	545,919)
Add: Allowance for credit losses	43,700)	39,900)	40,000)	42,200)	32,700)
Add: LIFO reserve²	129,900)	72,600)	41,100)	85,600)	83,500)
Less: Noncurrent deferred tax assets, net³	—)	—)	—)	—)	—)
After Adjustment
Adjusted total assets	18,255,200)	18,172,300)	18,237,800)	20,620,100)	18,577,019)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

² LIFO reserve. See details »

³ Noncurrent deferred tax assets, net. See details »

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Trane Technologies plc, adjusted current liabilities

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Current liabilities	5,686,800)	4,752,400)	4,338,900)	4,861,900)	4,315,700)
Adjustments
Less: Current deferred revenue	110,500)	115,400)	108,600)	107,300)	103,100)
Less: Current standard product warranty liability	120,400)	106,600)	127,700)	157,600)	149,500)
After Adjustment
Adjusted current liabilities	5,455,900)	4,530,400)	4,102,600)	4,597,000)	4,063,100)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Trane Technologies plc, adjusted total liabilities

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Total liabilities	11,976,400)	11,786,700)	11,729,600)	13,179,900)	10,850,100)
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	545,919)
Less: Noncurrent deferred tax liabilities²	526,600)	438,100)	420,800)	464,600)	331,400)
Less: Deferred revenue	317,700)	311,700)	304,400)	304,100)	292,200)
Less: Standard product warranty liability	323,600)	296,200)	282,700)	284,700)	278,900)
After Adjustment
Adjusted total liabilities	10,808,500)	10,740,700)	10,721,700)	12,126,500)	10,493,519)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Noncurrent deferred tax liabilities. See details »

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Trane Technologies plc, adjusted total Trane Technologies plc shareholders’ equity

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Total Trane Technologies plc shareholders’ equity	6,088,600)	6,255,900)	6,407,700)	7,267,600)	7,022,700)
Adjustments
Less: Net deferred tax assets (liabilities)¹	(526,600)	(438,100)	(420,800)	(464,600)	(331,400)
Add: Allowance for credit losses	43,700)	39,900)	40,000)	42,200)	32,700)
Add: LIFO reserve²	129,900)	72,600)	41,100)	85,600)	83,500)
Add: Deferred revenue	317,700)	311,700)	304,400)	304,100)	292,200)
Add: Standard product warranty liability	323,600)	296,200)	282,700)	284,700)	278,900)
Add: Noncontrolling interest	16,600)	17,200)	19,400)	44,800)	42,100)
After Adjustment
Adjusted total equity	7,446,700)	7,431,600)	7,516,100)	8,493,600)	8,083,500)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Net deferred tax assets (liabilities). See details »

² LIFO reserve. See details »

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Trane Technologies plc, adjusted capitalization table

US$ in thousands

	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Short-term borrowings and current maturities of long-term debt	1,048,000)	350,400)	775,600)	650,500)	350,600)
Long-term debt,excluding current maturities	3,788,300)	4,491,700)	4,496,500)	4,922,900)	3,740,700)
Total reported debt	4,836,300)	4,842,100)	5,272,100)	5,573,400)	4,091,300)
Total Trane Technologies plc shareholders’ equity	6,088,600)	6,255,900)	6,407,700)	7,267,600)	7,022,700)
Total reported capital	10,924,900)	11,098,000)	11,679,800)	12,841,000)	11,114,000)
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)¹	—)	—)	—)	—)	545,919)
Add: Operating lease current (classified in Other current liabilities)²	155,800)	147,300)	138,800)	172,000)	—)
Add: Operating lease noncurrent (classified in Other noncurrent liabilities)³	313,500)	296,000)	276,500)	394,400)	—)
Adjusted total debt	5,305,600)	5,285,400)	5,687,400)	6,139,800)	4,637,219)
Adjustments to Equity
Less: Net deferred tax assets (liabilities)⁴	(526,600)	(438,100)	(420,800)	(464,600)	(331,400)
Add: Allowance for credit losses	43,700)	39,900)	40,000)	42,200)	32,700)
Add: LIFO reserve⁵	129,900)	72,600)	41,100)	85,600)	83,500)
Add: Deferred revenue	317,700)	311,700)	304,400)	304,100)	292,200)
Add: Standard product warranty liability	323,600)	296,200)	282,700)	284,700)	278,900)
Add: Noncontrolling interest	16,600)	17,200)	19,400)	44,800)	42,100)
Adjusted total equity	7,446,700)	7,431,600)	7,516,100)	8,493,600)	8,083,500)
After Adjustment
Adjusted total capital	12,752,300)	12,717,000)	13,203,500)	14,633,400)	12,720,719)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Operating lease liability (before adoption of FASB Topic 842). See details »

² Operating lease current (classified in Other current liabilities). See details »

³ Operating lease noncurrent (classified in Other noncurrent liabilities). See details »

⁴ Net deferred tax assets (liabilities). See details »

⁵ LIFO reserve. See details »

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Trane Technologies plc, adjusted net revenues

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Net revenues	15,991,700)	14,136,400)	12,454,700)	16,598,900)	15,668,200)
Adjustment
Add: Increase (decrease) in deferred revenue	6,000)	7,300)	1,600)	11,900)	(800)
After Adjustment
Adjusted net revenues	15,997,700)	14,143,700)	12,456,300)	16,610,800)	15,667,400)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

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Trane Technologies plc, adjusted net earnings attributable to Trane Technologies plc

US$ in thousands

12 months ended:	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019	Dec 31, 2018
As Reported
Net earnings attributable to Trane Technologies plc	1,756,500)	1,423,400)	854,900)	1,410,900)	1,337,600)
Adjustments
Add: Deferred income tax expense (benefit)¹	67,800)	(25,200)	22,200)	16,800)	(143,800)
Add: Increase (decrease) in allowance for credit losses	3,800)	(100)	7,800)	9,500)	5,800)
Add: Increase (decrease) in LIFO reserve²	57,300)	31,500)	7,600)	2,100)	14,600)
Add: Increase (decrease) in deferred revenue	6,000)	7,300)	1,600)	11,900)	(800)
Add: Increase (decrease) in standard product warranty liability	27,400)	13,500)	31,300)	5,800)	8,400)
Less: Discontinued operations, net of tax	(21,500)	(20,600)	(121,400)	40,600)	(21,500)
Add: Other comprehensive income (loss), net of tax	(130,200)	(6,600)	242,800)	(41,600)	(188,300)
Add: Comprehensive income (loss), net of tax, attributable to noncontrolling interest	16,600)	12,700)	17,800)	18,500)	16,900)
After Adjustment
Adjusted net earnings	1,826,700)	1,477,100)	1,307,400)	1,393,300)	1,071,900)

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

¹ Deferred income tax expense (benefit). See details »

² Increase (decrease) in LIFO reserve. See details »

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Trane Technologies plc (NYSE:TT)

Adjustments to Financial Statements

Adjustments to Current Assets

Adjustments to Total Assets

Adjustments to Current Liabilities

Adjustments to Total Liabilities

Adjustments to Stockholders’ Equity

Adjustments to Capitalization Table

Adjustments to Revenues

Adjustments to Reported Income