XML 70 R45.htm IDEA: XBRL DOCUMENT v3.25.0.1

Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2024

Share-Based Payment Arrangement, Disclosure [Abstract]

Share-based Payment Arrangement, Cost by Plan [Table Text Block]

The following table summarizes the expenses recognized:

In millions						2024						2023						2022
Stock options						$	17.9					$	16.1					$	14.1
RSUs						27.3						23.5						19.7
PSUs						36.4						23.2						20.7
Deferred compensation						3.9						4.3						1.2
Pre-tax expense						85.5						67.1						55.7
Tax benefit						(20.7)						(16.3)						(13.5)
After-tax expense						$	64.8					$	50.8					$	42.2
Amounts recorded in continuing operations						$	64.8					$	50.8					$	42.6
Amounts recorded in discontinued operations						—						—						(0.4)
Total						$	64.8					$	50.8					$	42.2

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

The following assumptions were used during the year ended December 31:

						2024						2023						2022
Dividend yield						1.11		%				1.50		%				1.60		%
Volatility						29.99		%				29.37		%				28.23		%
Risk-free rate of return						4.00		%				3.62		%				1.56		%
Expected life in years						4.8						4.8						4.8

Share-based Payment Arrangement, Option, Activity [Table Text Block]

Changes in options outstanding under the plans for the years 2024, 2023 and 2022 were as follows:

						Shares subject to option						Weighted- average exercise price						Aggregate intrinsic value (millions)						Weighted- average remaining life (years)
December 31, 2021						4,411,000						$	83.39
Granted						430,496						167.93
Exercised						(633,962)						66.06
Cancelled						(57,050)						137.38
December 31, 2022						4,150,484						$	94.06
Granted						425,444						182.27
Exercised						(1,382,846)						80.67
Cancelled						(21,365)						168.18
December 31, 2023						3,171,717						$	111.23
Granted						268,922						278.57
Exercised						(914,667)						86.25
Cancelled						(17,842)						227.59
Outstanding December 31, 2024						2,508,130						$	137.46					$	581.8					5.4
Exercisable December 31, 2024						1,815,960						$	107.50					$	475.5					4.4

Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block]

The following table summarizes RSU activity for the years 2024, 2023 and 2022:

						RSUs						Weighted- average grant date fair value
Outstanding and unvested at December 31, 2021						371,030						$	118.88
Granted						139,730						165.07
Vested						(202,172)						107.29
Cancelled						(13,935)						136.89
Outstanding and unvested at December 31, 2022						294,653						$	147.88
Granted						214,425						184.35
Vested						(154,134)						134.87
Cancelled						(13,153)						173.28
Outstanding and unvested at December 31, 2023						341,791						$	175.65
Granted						112,227						287.84
Vested						(134,791)						164.69
Cancelled						(10,448)						214.39
Outstanding and unvested at December 31, 2024						308,779						$	219.89

Schedule of Share-based Compensation, Performance Shares [Table Text Block]

The following table summarizes PSU activity for the maximum number of shares that may be issued for the years 2024, 2023 and 2022:

						PSUs						Weighted-average grant date fair value
Outstanding and unvested at December 31, 2021						801,956						$	131.14
Granted						195,930						170.31
Vested						(346,540)						89.70
Forfeited						(42,320)						164.21
Outstanding and unvested at December 31, 2022						609,026						$	165.02
Granted						208,046						207.23
Vested						(237,586)						147.33
Forfeited						(20,526)						186.32
Outstanding and unvested at December 31, 2023						558,960						$	187.47
Granted						161,978						332.85
Vested						(184,060)						182.48
Forfeited						(21,072)						226.31
Outstanding and unvested at December 31, 2024						515,806						$	233.32

Share Based Compensation Stock Option And Restricted Stock Units Granted [Text Block]

Grants issued during the years ended December 31 were as follows:

			2024												2023												2022
			Number Granted						Weighted-average fair value per award						Number Granted						Weighted-average fair value per award						Number Granted						Weighted-average fair value per award
Stock options			268,922						$	79.09					425,444						$	47.53					430,496						$	35.96
RSUs			112,227						$	287.84					214,425						$	184.35					139,730						$	165.07
Performance shares (1)			161,978						$	332.85					208,046						$	207.23					195,930						$	170.31

(1) The number of performance shares represents the maximum award level.

X

- Definition

Share Based Compensation Stock Option And Restricted Stock Units Granted [Text Block]

+ References

No definition available.

+ Details

Name:	tt_ShareBasedCompensationStockOptionAndRestrictedStockUnitsGrantedTextBlock
Namespace Prefix:	tt_
Data Type:	dtr-types1:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of share-based payment arrangement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-1

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_DisclosureOfShareBasedCompensationArrangementsByShareBasedPaymentAwardTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of cost recognized for award under share-based payment arrangement by plan. Includes, but is not limited to, related tax benefit.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfCompensationCostForShareBasedPaymentArrangementsAllocationOfShareBasedCompensationCostsByPlanTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the number and weighted-average grant date fair value for restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock units that were granted, vested, or forfeited during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationRestrictedStockUnitsAwardActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-SubTopic 10
-Topic 718
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 718
-SubTopic 10
-Subparagraph (f)(2)
-Name Accounting Standards Codification
-Paragraph 2
-Section 50
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-2

+ Details

Name:	us-gaap_ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_ShareBasedArrangementsToObtainGoodsAndServicesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration