{ "docId": "019dd923-5efe-75c0-8dff-317af0da23c2", "docSlug": "3646e290c609e37b", "documentTitle": "2025 11 Investor Presentation", "authorId": "Trane-Technologies", "authorName": "Trane Technologies", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "strategy_consulting", "sourceTypeLabel": "Strategy consulting", "presentationDate": null, "orientation": "landscape", "aspectRatio": 1.778, "pageNumber": 33, "pageCount": 33, "prevPage": 32, "nextPage": null, "slideType": "appendix_disclosure", "function": "summarize", "density": "overcrowded", "nDataPoints": 0, "notes": "This is a standard financial disclosure slide defining metrics like Adjusted effective tax rate, Free cash flow, Operating leverage, Organic revenue, and Working capital.", "elementsJson": [ "paragraph", "bullet_list" ], "metadataConfidence": 1, "imagePath": null, "slideHref": "/slides/019dd923-5efe-75c0-8dff-317af0da23c2/33", "deckHref": "/decks/019dd923-5efe-75c0-8dff-317af0da23c2", "deckJsonHref": "/decks/019dd923-5efe-75c0-8dff-317af0da23c2.json", "deckAnchorHref": "/decks/019dd923-5efe-75c0-8dff-317af0da23c2#slide-33", "components": [ { "bbox": { "h": 0.06, "w": 0.96, "x": 0.02, "y": 0.69 }, "kind": "list", "text": "Working capital is calculated by adding net accounts and notes receivables and inventories and subtracting total current liabilities that exclude short-term debt, dividend payable and income tax payables.", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "47225070-3257-4c79-bc7f-a2a299b16f35", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.66, "x": 0.02, "y": 0.42 }, "kind": "list", "text": "Free cash flow conversion is defined as the ratio of free cash flow divided by adjusted net earnings", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "5688d53a-e2c1-49a8-ad6c-21cc042a0426", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.06, "w": 0.96, "x": 0.02, "y": 0.77 }, "kind": "list", "text": "Working capital as a percent of revenue is calculated by dividing the working capital balance (e.g. as of September 30) by the annualized revenue for the period (e.g. reported revenues for the three months ended September 30 multiplied by 4 to annualize for a full year).", "attrs": null, "subkind": "bullet", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "c1c04f23-b7a6-4a6b-ac19-ddef5b0b0a88", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.66, "x": 0.02, "y": 0.54 }, "kind": "paragraph", "text": "Organic revenue is defined as GAAP net revenues adjusted for the impact of currency and acquisitions.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "01ee534e-0d9e-4860-b1ec-1f04b285434a", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.07, "w": 0.96, "x": 0.02, "y": 0.46 }, "kind": "paragraph", "text": "Operating leverage is defined as the ratio of the change in adjusted operating income for the current period (e.g. Q3 2025) less the prior period (e.g. Q3 2024), divided by the change in net revenues for the current period less the prior period", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "7b26be0a-aab8-437b-97b8-5b22fca7097b", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.76, "x": 0.02, "y": 0.59 }, "kind": "paragraph", "text": "Organic bookings is defined as reported orders in the current period adjusted for the impact of currency and acquisitions.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "7c53cc1e-1195-462f-aedd-692216fb3d03", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.03, "w": 0.85, "x": 0.02, "y": 0.64 }, "kind": "paragraph", "text": "Working capital measures a firm's operating liquidity position and its overall effectiveness in managing the enterprise's current accounts.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "857c3b64-081a-467f-895e-65e10109d6e5", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.16, "w": 0.96, "x": 0.02, "y": 0.11 }, "kind": "paragraph", "text": "Adjusted effective tax rate for 2025 is defined as the ratio of income tax expense adjusted for the net tax effect of adjustments for restructuring costs, and merger and acquisition transaction costs, divided by adjusted net earnings. Adjusted effective tax rate for 2024 is defined as the ratio of income tax expense adjusted for a U.S. discrete tax benefit and the net tax effect of adjustments for restructuring costs, merger and acquisition transaction costs, and legacy legal liability, divided by adjusted net earnings. This measure allows for a direct comparison of the effective tax rate between periods.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "b69976e6-9fdb-41a3-a193-3f4147f6216e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.13, "w": 0.96, "x": 0.02, "y": 0.28 }, "kind": "paragraph", "text": "Free cash flow in 2025 is defined as net cash provided by (used in) continuing operating activities adjusted for capital expenditures, cash payments for restructuring costs, legacy legal liability, and merger and acquisition transaction costs. Free cash flow in 2024 is defined as net cash provided by (used in) continuing operating activities adjusted for capital expenditures, cash payments for restructuring costs, legacy legal liability, and merger and acquisition transaction costs. Please refer to the free cash flow reconciliation on table 8 of the news release.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "de053ead-294a-4dd0-bcbb-f814e2ec2b7f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.42, "x": 0.02, "y": 0.96 }, "kind": "source-note", "text": "Note: Information as of October 30, 2025---NOT AN UPDATE OR REAFFIRMATION", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "be1664e1-d761-4b29-ba6f-205a2b301297", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.07, "w": 0.57, "x": 0.02, "y": 0.03 }, "kind": "title", "text": "Q3 & YTD Non-GAAP Measures Definitions", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "61f1a3a3-066a-4b3e-b2ed-7a0648516f89", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }