nVent Electric plc 2026年季度报告

PART I FINANCIAL INFORMATION ITEM1.Financial Statements (unaudited)Condensed Consolidated Statements of Income and Comprehensive Income PART II OTHER INFORMATION ITEM 1.Legal ProceedingsITEM1A.Risk FactorsITEM 2.Unregistered Sales of Equity Securities and Use of ProceedsITEM 5.Other InformationITEM 6.ExhibitsSignatures PART I FINANCIAL INFORMATION nVent Electric plcCondensed Consolidated Statements of Income and Comprehensive Income (Unaudited) 1.Basis of Presentation and Responsibility for Interim Financial StatementsBusiness nVent Electric plc ("nVent," "we," "us," "our" or the "Company") is a leading global provider of electrical connection and protection solutions.The Company is comprised of two reporting segments: Systems Protection and Electrical Connections. The Company was incorporated in Ireland on May 30, 2017. Although our jurisdiction of organization is Ireland, we manage our affairs so thatwe are centrally managed and controlled in the United Kingdom (the "U.K.") and have tax residency in the U.K. Basis of presentation The accompanying unaudited Condensed Consolidated Financial Statements of nVent have been prepared following the requirements of theSecurities and Exchange Commission ("SEC") for interim reporting. As permitted under those rules, certain footnotes or other financial We are responsible for the unaudited Condensed Consolidated Financial Statements included in this document. The financial statements includeall normal recurring adjustments that are considered necessary for the fair presentation of our financial position and operating results. As these Revenues, expenses, cash flows, assets and liabilities can and do vary during each quarter of the year. Therefore, the results and trends in theseinterim financial statements may not be indicative of those for a full year. We may experience changes in customer demand or constrained In 2024, we entered into a definitive agreement to sell our Thermal Management business to BCP VI Summit Holdings LP (as assignee of BCPAcquisitions LLC), an affiliate of funds managed by Brookfield Asset Management. We completed the sale of the Thermal Managementbusiness on January30, 2025, which resulted in $1.6billion in net cash proceeds, subject to certain customary purchase price adjustments. As aresult of the agreement, the Thermal Management business met the criteria set forth in Accounting Standards Codification ("ASC") 205-20 tobe presented as a discontinued operation for sale for all periods presented. The Thermal Management business' results of operations and the New accounting standards In November 2024, the Financial Accounting Standards Board issued Accounting Standards Update 2024-03, "Disaggregation of IncomeStatement Expenses", which is intended to improve disclosures about a public business entity's expenses. It requires public entities todisaggregate specific types of expenses, including disclosures for purchases of inventory, employee compensation, depreciation and intangibleasset amortization, as well as selling expenses. The guidance is effective for annual periods beginning after December 15, 2026 and interim 2.Revenue Disaggregation of revenue We disaggregate our revenue from contracts with customers by geographic location and vertical, as we believe these best depict how the nature,amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Geographic net sales information, based on geographic destination of the sale, was as follows: Contract balances The $38.4 million increase in net contract assets from December31, 2025 to March31, 2026 was primarily the result of the timing of milestoneinvoicing. The majority of our contract liabilities at December 31, 2025 were recognized in revenue during the three months ended March 31,2026. There were no material impairment losses recognized on our contract assets for the three months ended March31, 2026 and 2025. Remaining performance obligationsOn March31, 2026, we had $2,591.0 million of remaining performance obligations. We expect to recognize the majority of our remaining performance obligations on these contracts within the next twelve months. 3. During the three months ended March31, 2026 and the year ended December31, 2025, we initiated and continued execution of certainbusiness restructuring initiatives aimed at reducing our fixed cost structure and realigning our business. Restructuring related costs included inSelling, general and administrativein the Condensed Consolidated Statements of Income andComprehensive Income included costs for severance and other restructuring costs as follows: Other restructuring costs primarily consist of asset impairment and various contract termination costs. Restructuring costs by reportable segment as well as Enterprise and other were as follows: Activity related to accrued severance and related costs recorded inOther current liabilitiesin the Condensed Consolidated Balance Sheets issumm