Trane Technologies (TT) FY2012 results: revenue $12.0 billion, down 6.1% on the year
Trane Technologies plc (TT) reported revenue of $12.0 billion for fiscal 2012, the year ended 31 December 2012, down 6.1% on the year before. Net income was $1.0 billion, up 196.8%, and diluted earnings per share $3.28. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2013.
Revenue
$12.0 billion
-6.1% on the year
FY2007FY2012
Operating margin
8.9%
3.4% a year earlier
FY2007FY2012
Net income
$1.0 billion
+196.8% on the year
FY2007FY2012
Diluted EPS
$3.28
+224.8% on the year
FY2007FY2012
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Revenue
11,988
12,761
14,001
-6.1%
Cost of revenue
8,534
9,280
10,060
-8.0%
Gross profit
3,455
3,481
3,941
-0.7%
Gross margin
28.8%
27.3%
28.1%
Research and development
235
218
244
+7.8%
Selling, general and administrative
2,383
2,395
2,680
-0.5%
Operating income
1,072
439
1,261
+144.3%
Operating margin
8.9%
3.4%
9.0%
Interest expense
252
278
283
-9.5%
Pre-tax income
848
189
1,011
+349.6%
Income tax
56.0
45.4
228
+23.3%
Effective tax rate
6.6%
24.1%
22.6%
Net income
1,019
343
642
+196.8%
Net margin
8.5%
2.7%
4.6%
Diluted EPS
$3.28
$1.01
$1.89
+224.8%
$ 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
FY2012
FY2011
FY2010
On the year
Last 8 years
Operating cash flow
1,195
1,187
695
+0.7%
Capital expenditure
243
217
180
+12.0%
Free cash flow
952
970
516
-1.8%
Free cash flow margin
7.9%
7.6%
3.7%
Cash from investing
-146
208
-179
Cash from financing
-1,304
-1,246
n/a
Depreciation and amortisation
334
358
437
-6.9%
Share-based compensation
49.8
42.6
73.5
+16.9%
Buybacks
840
1,158
0.0
-27.4%
Dividends paid
192
137
90.7
+40.1%
Dividend per share
$0.69
$0.59
$0.28
+16.9%
Diluted shares, weighted
311m
339m
340m
-8.5%
Shares outstanding at period end
n/a
n/a
328m
Balance sheet
$ million
FY2012
FY2011
FY2010
On the year
Last 8 years
Shareholders' equity
7,148
6,924
7,964
+3.2%
Non-controlling interest
81.5
88.1
94.8
-7.5%
Redeemable equity
0.0
3.3
n/a
Debt
3,223
3,643
3,684
-11.5%
Other liabilities
8,040
8,186
8,248
-1.8%
Total liabilities and equity
18,493
18,844
19,991
-1.9%
Fixed assets
1,426
1,641
1,669
-13.1%
Goodwill
5,493
6,105
6,150
-10.0%
Intangible assets
4,050
4,337
4,479
-6.6%
Investments
n/a
n/a
15.5
Cash and equivalents
708
987
841
-28.2%
Receivables
1,870
2,136
2,224
-12.4%
Inventory
1,144
1,278
1,288
-10.5%
Other assets
3,801
2,360
3,324
+61.0%
Total assets
18,493
18,844
19,991
-1.9%
10-K for the year ended 31 December 2012, filed 14 February 2013: the filing.