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Equity | 6 Months Ended
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Jun. 30, 2025
Stockholders' Equity Note [Abstract] |
Equity | Equity The authorized share capital of Trane Technologies plc is 1,185,040,000 shares, consisting of (1) 1,175,000,000 ordinary shares, par value $1.00 per share, (2) 40,000 ordinary shares, par value EUR 1.00 and (3) 10,000,000 preference shares, par value $0.001 per share. There were no Euro-denominated ordinary shares or preference shares outstanding at June 30, 2025 or December 31, 2024. Changes in ordinary shares and treasury shares for the six months ended June 30, 2025 were as follows:
In millions | Ordinary shares issued |  | Ordinary shares held in treasury
December 31, 2024 | 249.0 |  |  | 24.5 |
Shares issued under incentive plans, net | 0.6 |  |  | — |
Repurchase of ordinary shares | (2.4) |  |  | — |
June 30, 2025 | 247.2 |  |  | 24.5 |
Share repurchases are made from time to time in accordance with management's capital allocation strategy, subject to market conditions and regulatory requirements. Shares acquired and canceled upon repurchase are accounted for as a reduction of Ordinary shares and Capital in excess of par value, or Retained earnings to the extent Capital in excess of par value is exhausted. Shares acquired and held in treasury are presented separately on the balance sheet as a reduction to Equity and recognized at cost. In February 2022, the Company's Board of Directors authorized a share repurchase program of up to $3.0 billion of its ordinary shares (2022 Authorization) and in December 2024, the Board of Directors authorized a share repurchase program of up to an additional $5.0 billion of the Company's ordinary shares (2024 Authorization) upon the conclusion of the 2022 Authorization. During the six months ended June 30, 2025, the Company repurchased and canceled approximately $880 million of its ordinary shares, leaving $0.4 billion remaining under the 2022 Authorization and $5.0 billion remaining under the 2024 Authorization. Additionally, during the period after June 30, 2025 through July 30, 2025, the Company repurchased approximately $120 million of its ordinary shares under the 2022 Authorization. Accumulated Other Comprehensive Income (Loss) The changes in Accumulated other comprehensive income (loss) for the six months ended June 30, 2025 were as follows:
In millions |  | Derivative Instruments |  | Pension and OPEB |  | Foreign Currency Translation |  | Total
Balance at December 31, 2024 |  | $ | (1.4) |  |  | $ | (186.8) |  |  | $ | (675.9) |  |  | $ | (864.1) |
Other comprehensive income (loss) attributable to Trane Technologies plc |  | 19.3 |  |  | (6.1) |  |  | 349.6 |  |  | 362.8 |
Balance at June 30, 2025 |  | $ | 17.9 |  |  | $ | (192.9) |  |  | $ | (326.3) |  |  | $ | (501.3) |
Other comprehensive income (loss) attributable to noncontrolling interests for the six months ended June 30, 2025 included a gain of $1.3 million related to currency translation. The changes in Accumulated other comprehensive income (loss) for the six months ended June 30, 2024 were as follows:
In millions |  | Derivative Instruments |  | Pension and OPEB |  | Foreign Currency Translation |  | Total
Balance at December 31, 2023 |  | $ | 3.0 |  |  | $ | (198.9) |  |  | $ | (474.9) |  |  | $ | (670.8) |
Other comprehensive income (loss) attributable to Trane Technologies plc |  | 0.1 |  |  | 2.6 |  |  | (110.3) |  |  | (107.6) |
Balance at June 30, 2024 |  | $ | 3.1 |  |  | $ | (196.3) |  |  | $ | (585.2) |  |  | $ | (778.4) |

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