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Revenue (Tables)

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table illustrates the sources of revenue:

			Three Months Ended												Nine Months Ended
			September 30,												September 30,
(in millions)			2023						2022						2023						2022
Revenue from contracts with customers			$	1,950					$	1,319					$	4,970					$	3,852
Lease Revenue			126						61						276						164
Total			$	2,076					$	1,380					$	5,246					$	4,016

The following table reflects revenue from contracts with customers by application.

			Three Months Ended												Nine Months Ended
			September 30,												September 30,
(in millions)			2023						2022						2023						2022
Water Infrastructure
Transport			$	448					$	410					$	1,350					$	1,235
Treatment			280						103						536						297
Applied Water
Building Solutions			260						253						770						712
Industrial Water			205						205						626						600
Measurement & Control Solutions
Water			337						278						994						822
Energy			103						70						267						186
Integrated Solutions & Services			317						—						427						—
Total			$	1,950					$	1,319					$	4,970					$	3,852

The following table reflects revenue from contracts with customers by geographical region.

			Three Months Ended												Nine Months Ended
			September 30,												September 30,
(in millions)			2023						2022						2023						2022
Water Infrastructure
United States			$	263					$	155					$	658					$	467
Western Europe			231						172						641						548
Emerging Markets (a)			166						135						401						356
Other			68						51						186						161
Applied Water
United States			243						235						735						675
Western Europe			97						90						306						285
Emerging Markets (a)			91						100						250						258
Other			34						33						105						94
Measurement & Control Solutions
United States			289						221						811						614
Western Europe			70						55						216						183
Emerging Markets (a)			53						48						153						142
Other			28						24						81						69
Integrated Solutions & Services
United States			295						—						393						—
Western Europe			5						—						7						—
Emerging Markets (a)			3						—						6						—
Other			14						—						21						—
Total			$	1,950					$	1,319					$	4,970					$	3,852

(a)Emerging Markets includes results from the following regions: Eastern Europe, the Middle East and Africa, Latin America and Asia Pacific (excluding Japan, Australia and New Zealand, which are presented in "Other")

Contract with Customer, Asset and Liability

The table below provides contract assets, contract liabilities, and significant changes in contract assets and liabilities:

(in millions)			Contract Assets (a)			Contract Liabilities
Balance at January 1, 2022			$	125		$	164
Additions, net			91			110
Revenue recognized from opening balance			—			(94)
Billings transferred to accounts receivable			(71)			—
Foreign currency and other			(8)			(12)
Balance at September 30, 2022			$	137		$	168
Balance at January 1, 2023			$	151		$	183
Opening balance from the acquisition of Evoqua			110			107
Additions, net			101			123
Revenue recognized from opening balance			—			(99)
Billings transferred to accounts receivable			(97)			—
Foreign currency and other			(2)			(14)
Balance at September 30, 2023			$	263		$	300

(a)Excludes receivable balances, which are disclosed on the Condensed Consolidated Balance Sheets

X

- Definition

Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-10

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X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

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