IR · 10-Q · 2026Q3 · Full report

Working Capital Changes

Ingersoll Rand Inc. · 2026-10-30 · Importance 36 · Surprise 40 · From source text

Net working capital decreased $260.4 million to $1,921.3 million at September 30, 2026 from $2,181.7 million at December 31, 2025, primarily because of the reclassification of the 2027 Notes, partly offset by ILC Dover settlement receivables and operating working capital changes. Operating working capital increased $196.4 million to $1,804.9 million. The increase reflected higher inventories and receivables and lower accounts payable and contract liabilities, partly offset by lower contract assets; inventory growth also reflected channel-access support, currency translation, and acquisitions.

Key facts

• In the nine months ended September 30, 2026, changes in other assets and liabilities reduced operating cash flow by $364.9 million, compared with $153.5 million in 2025. source
• Net working capital decreased $260.4 million to $1,921.3 million at September 30, 2026 from $2,181.7 million at December 31, 2025; the decrease primarily reflected reclassification of the 2027 Notes, partly offset by ILC Dover transaction settlement receivables and changes in operating working capital. source
• In the nine months ended September 30, 2026, changes in accrued liabilities provided $97.2 million of operating cash flow, compared with $3.3 million in 2025. source
• Operating working capital increased $196.4 million to $1,804.9 million at September 30, 2026 from $1,608.5 million at December 31, 2025, due to higher inventories, lower accounts payable, higher accounts receivable, and lower contract liabilities, partly offset by lower contract assets. source
• In the nine months ended September 30, 2026, changes in accounts payable reduced operating cash flow by $89.8 million, compared with an $69.2 million reduction in 2025. source
• In the nine months ended September 30, 2026, changes in inventory reduced operating cash flow by $104.4 million, compared with a $109.6 million reduction in 2025. source
• At September 30, 2026, $30.5 million of accounts payable represented outstanding payment obligations sold by participating suppliers to financial institutions, compared with $28.2 million at December 31, 2025. source
• The increase in accounts receivable was primarily due to quarterly revenue timing and seasonal changes in collection timing. source

Impact estimates