Trane Technologies (TT) FY2011 results: revenue $12.8 billion, down 8.9% on the year
Trane Technologies plc (TT) reported revenue of $12.8 billion for fiscal 2011, the year ended 31 December 2011, down 8.9% on the year before. Net income was $343 million, down 46.6%, and diluted earnings per share $1.01. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2014.
Revenue
$12.8 billion
-8.9% on the year
FY2007FY2011
Operating margin
3.4%
9.0% a year earlier
FY2007FY2011
Net income
$343 million
-46.6% on the year
FY2007FY2011
Diluted EPS
$1.01
-46.6% on the year
FY2007FY2011
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Revenue
12,761
14,001
13,009
-8.9%
Cost of revenue
9,280
10,060
9,437
-7.8%
Gross profit
3,481
3,941
3,572
-11.7%
Gross margin
27.3%
28.1%
27.5%
Research and development
218
244
255
-10.5%
Selling, general and administrative
2,395
2,680
2,687
-10.6%
Operating income
439
1,261
885
-65.2%
Operating margin
3.4%
9.0%
6.8%
Interest expense
278
283
302
-1.7%
Pre-tax income
189
1,011
594
-81.3%
Income tax
45.4
228
81.5
-80.1%
Effective tax rate
24.1%
22.6%
13.7%
Net income
343
642
451
-46.6%
Net margin
2.7%
4.6%
3.5%
Diluted EPS
$1.01
$1.89
$1.37
-46.6%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Operating cash flow
1,187
695
1,735
+70.7%
Capital expenditure
217
180
204
+20.9%
Free cash flow
970
516
1,530
+88.0%
Free cash flow margin
7.6%
3.7%
11.8%
Cash from investing
208
-179
n/a
Cash from financing
-1,246
n/a
n/a
Depreciation and amortisation
358
437
422
-17.9%
Share-based compensation
42.6
73.5
68.3
-42.0%
Buybacks
1,158
0.0
0.0
Dividends paid
137
90.7
161
+51.4%
Dividend per share
$0.59
$0.28
$0.50
+110.7%
Diluted shares, weighted
339m
340m
329m
-0.1%
Shares outstanding at period end
n/a
328m
321m
Balance sheet
$ million
FY2011
FY2010
FY2009
On the year
Last 8 years
Shareholders' equity
6,924
7,964
7,072
-13.1%
Non-controlling interest
88.1
94.8
104
-7.1%
Redeemable equity
3.3
n/a
n/a
Debt
3,643
3,684
3,431
-1.1%
Other liabilities
8,186
8,248
9,384
-0.8%
Total liabilities and equity
18,844
19,991
19,991
-5.7%
Fixed assets
1,641
1,669
1,889
-1.7%
Goodwill
6,105
6,150
6,606
-0.7%
Intangible assets
4,337
4,479
5,043
-3.2%
Investments
n/a
15.5
11.8
Cash and equivalents
987
841
841
+17.4%
Receivables
2,136
2,224
2,094
-4.0%
Inventory
1,278
1,288
1,176
-0.8%
Other assets
2,360
3,324
2,331
-29.0%
Total assets
18,844
19,991
19,991
-5.7%
10-K for the year ended 31 December 2011, filed 14 February 2014: the filing.