TT · 10-Q · 2026Q3 · Full report

Liquidity and Debt Position

Trane Technologies plc · 2026-10-29 · Importance 45 · Surprise 38 · In source text

At September 30, 2026, cash and cash equivalents totaled $1,227.4 million, including $1,051.1 million held by non-U.S. subsidiaries, down from $1,763.3 million at December 31, 2025. Total debt was $4,217.6 million, compared with $4,615.1 million at year-end, and the debt-to-total-capital ratio declined to 31.6% from 34.9%. The company had no commercial paper outstanding and no borrowings under its $2.5 billion revolving credit facilities. Long-term debt maturities range from 2027 to 2049; holders elected no material amount of the approximately $256 million of puttable debentures eligible for November 2026 settlement as of October 29.

Key facts

• Trane Technologies maintained two senior unsecured revolving credit facilities totaling $2.5 billion: a $1.0 billion facility maturing in May 2030 and a $1.5 billion facility maturing in April 2031; no borrowings were outstanding at September 30, 2026. source
• In October 2026, holders could elect to put up to approximately $256 million of debentures for November 2026 settlement; as of October 29, 2026, no material amount of puts had been elected. source
• A $270 million qualified settlement fund for the Section 524(g) Trust was approved by the Bankruptcy Court on January 27, 2022 and funded on March 2, 2022. source
• Trane Technologies projected total worldwide pension contributions of approximately $84 million in 2026, some of which may be funded by assets in an employer-owned trust. source
• Trane Technologies had $1,227.4 million in cash, $4,217.6 million in total debt and a 31.6% debt-to-total-capital ratio at September 30, 2026. source
• Trane Technologies’ commercial paper program had a maximum issuance capacity of $2.5 billion and no commercial paper outstanding as of September 30, 2026. source
• Trane Technologies had $1,227.4 million of cash and cash equivalents at September 30, 2026, of which $1,051.1 million was held by non-U.S. subsidiaries. source
• Trane Technologies expected existing U.S. cash, U.S. operating cash generation, committed credit lines and access to capital and debt markets to fund U.S. operating and capital needs for at least the next 12 months and the foreseeable future; it expected non-U.S. cash and operating cash generation to cover non-U.S. needs for the same period. source

Impact estimates