特灵科技 2024年度报告

Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of theSecurities Act. Yesx No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 orSection 15(d) of the Act. Yes☐Nox Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter periodthat the registrant was required to file such reports), and (2) has been subject to such filing requirementsfor the past 90 days. YesxNo☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data Filerequired to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during thepreceding 12 months (or for such shorter period that the registrant was required to submit such files).Yesx No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of"large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company"in Rule 12b-2 of the Exchange Act.: Large accelerated filerxAccelerated filer☐Emerging growth company☐Non-accelerated filer☐Smaller reporting company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use theextended transition period for complying with any new or revised financial accounting standards providedpursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant has filed a report on and attestation to its management'sassessment of the effectiveness of its internal control over financial reporting under Section 404(b) of theSarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issuedits audit report. YesxNo☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether thefinancial statements of the registrant included in the filing reflect the correction of an error to previouslyissued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recoveryanalysis of incentive-based compensation received by any of the registrant's executive officers during therelevant recovery period pursuant to § 240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).Yes☐Nox The aggregate market value of ordinary shares held by nonaffiliates on June 30, 2024 was $74.1 billionbased on the closing price of such stock on the New York Stock Exchange. The number of ordinary shares outstanding of Trane Technologies plc as of January 31, 2025 was224,290,964. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant's proxy statement to be filed within 120 days of the close of the registrant's fiscalyear in connection with the registrant's Annual General Meeting of Shareholders to be held June 5, 2025are incorporated by reference into Part III of this Form 10-K. Table of Contents TRANE TECHNOLOGIES PLC Form 10-KFor the Fiscal Year Ended December 31, 2024 TABLE OF CONTENTS Part IItem 1.Business4Item 1A.Risk Factors12Item 1B.Unresolved Staff Comments24Item 1C.Cybersecurity24Item 2.Properties25Item 3.Legal Proceedings25Item 4.Mine Safety Disclosures25Part IIItem 5.Market for Registrant's Common Equity, Related StockholderMatters and Issuer Purchases of Equity Securities26 Item 6.[Reserved]27Item 7.Management's Discussion and Analysis of Financial Conditionand Results of Operations28Item 7A.Quantitative and Qualitative Disclosure About Market Risk44Item 8.Financial Statements45Item 9.Changes in and Disagreements with Accountants on Accountingand Financial Disclosure45Item 9A.Controls and Procedures45Item 9B.Other Information46Item 9C.Disclosure Regarding Foreign Jurisdictions that PreventInspections46Part IIIItem 10.Directors, Executive Officers and Corporate Governance47Item 11.Executive Compensation47Item 12.Security Ownership of Certain Beneficial Owners andManagement and Related Stockholder Matters47Item 13.Certain Relationships and Related Transactions, and DirectorIndependence47Item 14.Principal Accountant Fees and Services47Part IVItem 15.Exhibits and Financial Statement Schedules48Item 16.Form 10-K Summary60Signatures61 Table of ContentsCAUTIONARY STATEMENT FOR FORWARD LOOKING STATEMENTS Certain statements in this report, other than purely historical information, are "forward-looking statements"within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the SecuritiesAct of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statementsgenerally are identified by the words "believe," "project,"