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REVENUES (Tables) | 9 Months Ended
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Sep. 30, 2025
REVENUES |
Schedule of operating lease revenue | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Third Quarter Ended | ​ | Nine Months Ended
​ | ​ | September 30 | ​ | September 30
(millions) | ​ | 2025 | ​ | 2024 | ​ | 2025 | ​ | 2024
Operating lease revenue | ​ | ​ | $141.9 | ​ | ​ | ​ | $133.5 | ​ | ​ | ​ | $416.1 | ​ | ​ | ​ | $398.3 | ​
Schedule of principal activities, separated by reportable segments and geographic region | Net sales at public exchange rates by reportable segment are as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Third Quarter Ended | Nine Months Ended
​ | ​ | September 30 | September 30
(millions) |  | 2025 | ​ | 2024 |  | 2025 | ​ | 2024 |
Global Water | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product and sold equipment |  | ​ | $1,791.5 | ​ | ​ | ​ | $1,722.0 | ​ | ​ | $5,115.8 | ​ | ​ | ​ | $5,036.4 |
Service and lease equipment |  | ​ | 263.1 | ​ | ​ | ​ | 244.4 | ​ | ​ | 742.5 | ​ | ​ | ​ | 705.0 |
Global Institutional & Specialty |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
Product and sold equipment | ​ | ​ | 1,296.4 | ​ | ​ | ​ | 1,274.1 | ​ | ​ | 3,693.4 | ​ | ​ | ​ | 3,792.5 | ​
Service and lease equipment | ​ | ​ | 297.5 | ​ | ​ | ​ | 282.6 | ​ | ​ | 863.1 | ​ | ​ | ​ | 822.2 | ​
Global Pest Elimination | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product and sold equipment | ​ | ​ | - | ​ | ​ | ​ | - | ​ | ​ | - | ​ | ​ | ​ | - | ​
Service and lease equipment | ​ | ​ | 331.8 | ​ | ​ | ​ | 307.2 | ​ | ​ | 929.8 | ​ | ​ | ​ | 869.0 | ​
Global Life Sciences | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Product and sold equipment | ​ | ​ | 174.7 | ​ | ​ | ​ | 159.9 | ​ | ​ | 512.1 | ​ | ​ | ​ | 486.7 | ​
Service and lease equipment | ​ | ​ | 10.0 | ​ | ​ | ​ | 8.3 | ​ | ​ | 28.5 | ​ | ​ | ​ | 24.4 | ​
Total | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total product and sold equipment | ​ | ​ | $3,262.6 | ​ | ​ | ​ | $3,156.0 | ​ | ​ | $9,321.3 | ​ | ​ | ​ | $9,315.6 | ​
Total service and lease equipment | ​ | ​ | $902.4 | ​ | ​ | ​ | $842.5 | ​ | ​ | $2,563.9 | ​ | ​ | ​ | $2,420.6 | ​
​ Net sales at public exchange rates by geographic region for the third quarter ended September 30 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Global | ​ | Global Institutional | ​ | Global Pest | ​ | Global | ​
​ | ​ | Water | ​ | & Specialty | ​ | Elimination | ​ | Life Sciences | ​
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
​ | ​ |  | ​ |  | ​ |  | ​ | ​ |  | ​ |  | ​ |  | ​ |  |  | ​ |  | ​ |  | ​ |  |  | ​ |  | ​ |  | ​ |
United States | ​ | ​ | $884.3 | ​ | ​ | ​ | $835.6 | ​ | ​ | $1,042.8 | ​ | ​ | ​ | $1,013.1 | ​ | ​ | $231.8 | ​ | ​ | ​ | $217.2 | ​ | ​ | $52.3 | ​ | ​ | ​ | $47.3 | ​
Europe |  | ​ | 435.0 | ​ | ​ | ​ | 416.1 | ​ | ​ | 271.5 | ​ | ​ | ​ | 267.0 | ​ | ​ | 54.4 | ​ | ​ | ​ | 47.0 | ​ | ​ | 95.1 | ​ | ​ | ​ | 84.1 | ​
Asia Pacific |  | ​ | 236.7 | ​ | ​ | ​ | 234.4 | ​ | ​ | 83.7 | ​ | ​ | ​ | 79.3 | ​ | ​ | 8.9 | ​ | ​ | ​ | 8.0 | ​ | ​ | 12.5 | ​ | ​ | ​ | 9.5 | ​
Latin America |  | ​ | 210.1 | ​ | ​ | ​ | 201.9 | ​ | ​ | 50.4 | ​ | ​ | ​ | 52.6 | ​ | ​ | 15.6 | ​ | ​ | ​ | 14.8 | ​ | ​ | 4.3 | ​ | ​ | ​ | 5.5 | ​
India, Middle East and Africa | ​ | ​ | 124.4 | ​ | ​ | ​ | 121.8 | ​ | ​ | 25.7 | ​ | ​ | ​ | 28.5 | ​ | ​ | 1.8 | ​ | ​ | ​ | 1.8 | ​ | ​ | 6.8 | ​ | ​ | ​ | 6.5 | ​
Greater China | ​ | ​ | 105.4 | ​ | ​ | ​ | 100.5 | ​ | ​ | 50.8 | ​ | ​ | ​ | 46.4 | ​ | ​ | 15.7 | ​ | ​ | ​ | 15.3 | ​ | ​ | 12.4 | ​ | ​ | ​ | 14.5 | ​
Canada | ​ | ​ | 58.7 | ​ | ​ | ​ | 56.1 | ​ | ​ | 69.0 | ​ | ​ | ​ | 69.8 | ​ | ​ | 3.6 | ​ | ​ | ​ | 3.1 | ​ | ​ | 1.3 | ​ | ​ | ​ | 0.8 | ​
Total | ​ | ​ | $2,054.6 | ​ | ​ | ​ | $1,966.4 | ​ | ​ | $1,593.9 | ​ | ​ | ​ | $1,556.7 | ​ | ​ | $331.8 | ​ | ​ | ​ | $307.2 | ​ | ​ | $184.7 | ​ | ​ | ​ | $168.2 | ​
​ Net sales at public exchange rates by geographic region for the nine months ended September 30 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Global | ​ | Global Institutional | ​ | Global Pest | ​ | Global | ​
​ | ​ | Water | ​ | & Specialty | ​ | Elimination | ​ | Life Sciences | ​
(millions) |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024 |  | 2025 |  | 2024 |
​ | ​ |  | ​ |  | ​ |  | ​ |  |  | ​ |  | ​ |  | ​ |  |  | ​ |  | ​ |  | ​ |  |  | ​ |  | ​ |  | ​ |
United States | ​ | ​ | $2,552.8 | ​ | ​ | ​ | $2,449.9 | ​ | ​ | $3,005.8 | ​ | ​ | ​ | $3,034.3 | ​ | ​ | $649.9 | ​ | ​ | ​ | $605.7 | ​ | ​ | $156.4 | ​ | ​ | ​ | $141.3 | ​
Europe |  | ​ | 1,202.5 | ​ | ​ | ​ | 1,175.1 | ​ | ​ | 756.2 | ​ | ​ | ​ | 778.4 | ​ | ​ | 149.9 | ​ | ​ | ​ | 136.6 | ​ | ​ | 272.4 | ​ | ​ | ​ | 277.2 | ​
Asia Pacific |  | ​ | 688.9 | ​ | ​ | ​ | 695.6 | ​ | ​ | 238.0 | ​ | ​ | ​ | 238.9 | ​ | ​ | 25.6 | ​ | ​ | ​ | 23.6 | ​ | ​ | 34.4 | ​ | ​ | ​ | 26.1 | ​
Latin America |  | ​ | 584.8 | ​ | ​ | ​ | 602.9 | ​ | ​ | 150.6 | ​ | ​ | ​ | 159.0 | ​ | ​ | 44.3 | ​ | ​ | ​ | 44.3 | ​ | ​ | 13.7 | ​ | ​ | ​ | 14.8 | ​
India, Middle East and Africa | ​ | ​ | 350.8 | ​ | ​ | ​ | 350.0 | ​ | ​ | 70.5 | ​ | ​ | ​ | 75.4 | ​ | ​ | 5.2 | ​ | ​ | ​ | 5.2 | ​ | ​ | 23.0 | ​ | ​ | ​ | 11.8 | ​
Greater China | ​ | ​ | 307.6 | ​ | ​ | ​ | 301.4 | ​ | ​ | 147.9 | ​ | ​ | ​ | 136.2 | ​ | ​ | 45.5 | ​ | ​ | ​ | 44.9 | ​ | ​ | 37.6 | ​ | ​ | ​ | 37.8 | ​
Canada | ​ | ​ | 170.9 | ​ | ​ | ​ | 166.5 | ​ | ​ | 187.5 | ​ | ​ | ​ | 192.5 | ​ | ​ | 9.4 | ​ | ​ | ​ | 8.7 | ​ | ​ | 3.1 | ​ | ​ | ​ | 2.1 | ​
Total | ​ | ​ | $5,858.3 | ​ | ​ | ​ | $5,741.4 | ​ | ​ | $4,556.5 | ​ | ​ | ​ | $4,614.7 | ​ | ​ | $929.8 | ​ | ​ | ​ | $869.0 | ​ | ​ | $540.6 | ​ | ​ | ​ | $511.1 | ​
Summarized activity in the allowance for doubtful accounts | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended | ​
​ | ​ | September 30 | ​
(millions) | ​ | 2025 |  | 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning balance | ​ | ​ | $70.0 | ​ | ​ | ​ | $77.3 | ​
Bad debt expense | ​ |  | 39.4 | ​ | ​ |  | 33.2 | ​
Write-offs | ​ |  | (34.1) | ​ | ​ |  | (34.4) | ​
Other (a) | ​ | ​ | 2.8 | ​ | ​ | ​ | (0.1) | ​
Ending balance | ​ | ​ | $78.1 | ​ | ​ | ​ | $76.0 | ​
​
(a) | O ther amounts are primarily the effects of changes in currency translations.
​
Schedule of contract liability | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended
​ | ​ | September 30
(millions) |  | 2025 | ​ | 2024 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contract liability as of beginning of the year |  | ​ | $102.0 | ​ | ​ | ​ | $110.9 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue recognized in the period from: |  | ​ | ​ | ​ | ​ | ​ | ​ |
Amounts included in the contract liability at the beginning of the year |  | ​ | (102.0) | ​ | ​ | ​ | (110.9) |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Increases due to billings excluding amounts recognized as revenue during the period ended | ​ | ​ | 116.0 | ​ | ​ | ​ | 103.9 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Contract liability as of end of period | ​ | ​ | $116.0 | ​ | ​ | ​ | $103.9 | ​
​

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