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Trane Technologies plc (NYSE:TT)

This company has been moved to the archive! The financial data has not been updated since May 3, 2023.

Common-Size Balance Sheet: Assets
Quarterly Data

Trane Technologies plc, common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Cash and cash equivalents 3.87 6.75 6.09 6.17 7.65 11.96 15.05 15.85 15.92 18.12 17.78 13.74 15.01 6.36 4.09 4.24 9.64 5.04 5.59 5.28 6.40
Accounts and notes receivable, net 14.56 15.38 16.16 15.60 13.78 13.45 13.36 13.78 12.11 12.13 12.89 13.45 11.86 13.65 14.62 15.04 13.70 14.96 15.04 16.04 13.70
Inventories 13.10 11.03 10.99 10.67 10.62 8.48 8.15 7.55 7.70 6.55 6.85 7.86 8.30 8.36 9.31 9.44 10.03 9.37 9.95 9.43 9.69
Other current assets 2.41 2.13 2.27 2.21 2.15 1.95 1.85 1.60 1.41 1.24 1.35 1.79 2.02 1.97 2.03 2.02 2.44 2.63 2.66 2.79 3.28
Current assets 33.94% 35.28% 35.51% 34.64% 34.19% 35.83% 38.41% 38.79% 37.15% 38.03% 38.87% 36.84% 37.20% 30.34% 30.05% 30.73% 35.82% 32.00% 33.23% 33.53% 33.06%
Property, plant and equipment, net 8.84 8.50 8.07 8.06 8.06 7.75 7.34 7.21 7.45 7.43 7.33 7.63 7.52 8.81 8.76 8.68 8.79 9.66 9.14 8.96 8.77
Goodwill 30.86 30.44 30.27 30.86 31.16 30.48 29.17 29.04 29.80 29.43 28.68 29.56 28.82 33.10 33.06 33.19 30.17 33.27 32.72 32.65 33.32
Intangible assets, net 18.06 18.05 18.27 18.57 18.55 18.30 17.57 17.57 18.27 18.10 18.02 18.91 18.65 20.25 20.56 20.47 18.24 20.29 20.10 20.16 20.45
Other noncurrent assets 8.30 7.73 7.88 7.87 8.03 7.64 7.50 7.39 7.33 7.01 7.10 7.06 7.82 7.50 7.57 6.93 6.98 4.79 4.81 4.70 4.39
Noncurrent assets 66.06% 64.72% 64.49% 65.36% 65.81% 64.17% 61.59% 61.21% 62.85% 61.97% 61.13% 63.16% 62.80% 69.66% 69.95% 69.27% 64.18% 68.00% 66.77% 66.47% 66.94%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

The asset composition of the balance sheet reveals a heavy concentration in noncurrent assets, specifically intangible assets and goodwill, which consistently represent approximately 50% of the total asset base. While the overall structural distribution remains relatively stable, there are significant fluctuations in current asset components, particularly concerning liquidity and inventory management between 2020 and 2023.

Liquidity and Cash Management
A pronounced volatility in cash and cash equivalents is observed. From 2018 to early 2020, cash levels fluctuated between 4% and 9% of total assets. A significant surge occurred starting in March 2020, with cash reaching a peak of 18.12% by December 2020. This period of high liquidity was followed by a steady decline, with cash and cash equivalents dropping to 3.87% by March 2023, the lowest point in the analyzed period.
Working Capital Trends
Inventories exhibited a notable U-shaped trend. Initially stable around 9% to 10%, inventories declined to a low of 6.55% in December 2020. Subsequently, a consistent upward trend emerged, with inventories rising to 13.10% by March 2023, suggesting a strategic shift toward higher stock levels or supply chain buffering. Accounts and notes receivable remained more stable, generally oscillating between 12% and 16%, with a slight peak in late 2022.
Noncurrent Asset Stability
The proportion of property, plant, and equipment remained relatively constant, hovering between 7% and 9% of total assets. The most significant components of the noncurrent asset base are goodwill and intangible assets, which together account for a substantial portion of the total assets. Goodwill fluctuated slightly between 28% and 33%, while intangible assets remained largely steady between 17% and 20%, indicating that the company's value is heavily driven by acquired intangibles rather than physical infrastructure.
Total Asset Distribution
The balance between current and noncurrent assets shifted in response to liquidity events. Current assets peaked at 38.87% in September 2020, coinciding with the peak in cash reserves. As cash was deployed or reduced and inventories increased, the current asset ratio normalized to 33.94% by March 2023, returning to levels similar to those seen in 2018.

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