IR · 10-Q · 2026Q3 · Full report
FX / Currency Impact
Ingersoll Rand Inc. · 2026-10-30 · Importance 15 · Surprise 6 · No source text
The company has substantial non-U.S. operations, with the USD, EUR, GBP, Chinese Renminbi and Indian rupee identified as principal transaction currencies. It uses foreign-currency borrowing and cross-currency swaps to hedge translation exposure, and forward contracts to manage transaction exposure; these forwards generally mature within one year. For the nine months ended September 30, 2026, net foreign-currency transaction losses were $8.2 million, versus $15.6 million in the comparable 2025 period, while losses on non-hedge-accounted currency forwards were $13.4 million versus a $5.7 million gain. Nine-month foreign-currency translation adjustments, net of tax, were a loss of $64.7 million in 2026, compared with a gain of $316.7 million in 2025.
Key facts
- In August 2026, Ingersoll Rand entered into two cross-currency swaps replacing a 5.2% fixed rate on $250.0 million with a 3.8% fixed rate on €217.2 million; they mature in June 2029 and hedge investments in Euro-denominated subsidiaries. source
- In August 2026, Ingersoll Rand entered into two cross-currency swaps replacing a 5.3% fixed rate on $250.0 million with a 4.0% fixed rate on €217.1 million; they mature in June 2031 and hedge investments in Euro-denominated subsidiaries. source
- Foreign-currency translation adjustments for the nine months ended September 30, 2026 were a $64.7 million loss, net of tax, compared with a $316.7 million gain in the same 2025 period. source
- For the nine months ended September 30, 2026, approximately 55% of Ingersoll Rand’s revenues were denominated in currencies other than the U.S. dollar. source
- Other comprehensive loss attributable to Ingersoll Rand was $0.5 million for the three months ended September 30, 2026 and $65.9 million for the nine months ended September 30, 2026. source
- As of September 30, 2026, Ingersoll Rand had 17 foreign-currency forward contracts outstanding, with notional amounts ranging from $1.2 million to $62.2 million. source
- Foreign-currency forward contracts generated losses of $4.5 million in the third quarter and $13.4 million in the first nine months of 2026; total net foreign-currency transaction losses were $3.3 million and $8.2 million, respectively. source
- Ingersoll Rand states that significant exchange-rate movements could adversely affect its results of operations and cash flows. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| net_income | positive | committed | +0.1% | In August 2026, Ingersoll Rand entered into two cross-currency swaps replacing a 5.2% fixed rate on $250.0 million with a 3.8% fixed rate… |
| net_income | positive | committed | +0.1% | In August 2026, Ingersoll Rand entered into two cross-currency swaps replacing a 5.3% fixed rate on $250.0 million with a 4.0% fixed rate… |