XML 55 R43.htm IDEA: XBRL DOCUMENT
v3.25.3

Segment Information (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Financial information for each reportable segment | The following tables contain financial information provided to the CODM for each reportable segment:
(in millions) | Water Infrastructure |  | Applied Water |  | Measurement and Control Solutions |  | Water Solutions and Services |  | Total
Balance for three months ended September 30, 2025 |  |  |  |  |  |  |  |  |
Revenue | $ | 656 |  |  | $ | 456 |  |  | $ | 522 |  |  | $ | 634 |  |  | $ | 2,268 |
Less: |  |  |  |  |  |  |  |  |
Adjusted cost of revenue (a) | 357 |  |  | 291 |  |  | 322 |  |  | 396 |  |  |
Adjusted operating expenses (a) | 154 |  |  | 76 |  |  | 110 |  |  | 111 |  |  |
Other segment items (b) | 32 |  |  | 4 |  |  | 26 |  |  | 29 |  |  |
Segment operating income | $ | 113 |  |  | $ | 85 |  |  | $ | 64 |  |  | $ | 98 |  |  | $ | 360 |
Reconciliation of segment operating income |  |  |  |  |  |  |  |  |
Corporate and other operating (loss) |  |  |  |  |  |  |  |  | (26) |
Interest expense |  |  |  |  |  |  |  |  | (6) |
Other non-operating income, net |  |  |  |  |  |  |  |  | 6 |
Loss on sale of businesses |  |  |  |  |  |  |  |  | (37) |
Income before income taxes |  |  |  |  |  |  |  |  | $ | 297 |
(in millions) | Water Infrastructure |  | Applied Water |  | Measurement and Control Solutions |  | Water Solutions and Services |  | Total
Balance for three months ended September 30, 2024 |  |  |  |  |  |  |  |  |
Revenue | $ | 623 |  |  | $ | 447 |  |  | $ | 458 |  |  | $ | 576 |  |  | $ | 2,104 |
Less: |  |  |  |  |  |  |  |  |
Adjusted cost of revenue (a) | 360 |  |  | 291 |  |  | 278 |  |  | 375 |  |  |
Adjusted operating expenses (a) | 152 |  |  | 83 |  |  | 98 |  |  | 107 |  |  |
Other segment items (b) | 15 |  |  | 2 |  |  | 16 |  |  | 31 |  |  |
Segment operating income | $ | 96 |  |  | $ | 71 |  |  | $ | 66 |  |  | $ | 63 |  |  | $ | 296 |
Reconciliation of segment operating income |  |  |  |  |  |  |  |  |
Corporate and other operating (loss) |  |  |  |  |  |  |  |  | (16) |
Interest expense |  |  |  |  |  |  |  |  | (10) |
Other non-operating income, net |  |  |  |  |  |  |  |  | 1 |
Loss on sale of businesses |  |  |  |  |  |  |  |  | (2) |
Income before income taxes |  |  |  |  |  |  |  |  | $ | 269 |
(in millions) | Water Infrastructure |  | Applied Water |  | Measurement and Control Solutions |  | Water Solutions and Services |  | Total
Balance for nine months ended September 30, 2025 |  |  |  |  |  |  |  |  |
Revenue | $ | 1,887 |  |  | $ | 1,374 |  |  | $ | 1,552 |  |  | $ | 1,825 |  |  | $ | 6,638 |
Less: |  |  |  |  |  |  |  |  |
Adjusted cost of revenue (a) | 1,051 |  |  | 868 |  |  | 949 |  |  | 1,170 |  |  |
Adjusted operating expenses (a) | 457 |  |  | 246 |  |  | 333 |  |  | 344 |  |  |
Other segment items (b) | 83 |  |  | 19 |  |  | 82 |  |  | 91 |  |  |
Segment operating income | $ | 296 |  |  | $ | 241 |  |  | $ | 188 |  |  | $ | 220 |  |  | $ | 945 |
Reconciliation of segment operating income |  |  |  |  |  |  |  |  |
Corporate and other operating (loss) |  |  |  |  |  |  |  |  | (75) |
Interest expense |  |  |  |  |  |  |  |  | (23) |
Other non-operating income, net |  |  |  |  |  |  |  |  | 13 |
Loss on sale of businesses |  |  |  |  |  |  |  |  | (47) |
Income before income taxes |  |  |  |  |  |  |  |  | $ | 813 |
(in millions) | Water Infrastructure |  | Applied Water |  | Measurement and Control Solutions |  | Water Solutions and Services |  | Total
Balance for nine months ended September 30, 2024 |  |  |  |  |  |  |  |  |
Revenue | $ | 1,828 |  |  | $ | 1,339 |  |  | $ | 1,402 |  |  | $ | 1,737 |  |  | $ | 6,306 |
Less: |  |  |  |  |  |  |  |  |
Adjusted cost of revenue (a) | 1,052 |  |  | 874 |  |  | 835 |  |  | 1,128 |  |  |
Adjusted operating expenses (a) | 476 |  |  | 256 |  |  | 303 |  |  | 333 |  |  |
Other segment items (b) | 66 |  |  | 6 |  |  | 49 |  |  | 116 |  |  |
Segment operating income | $ | 234 |  |  | $ | 203 |  |  | $ | 215 |  |  | $ | 160 |  |  | $ | 812 |
Reconciliation of segment operating income |  |  |  |  |  |  |  |  |
Corporate and other operating (loss) |  |  |  |  |  |  |  |  | (70) |
Interest expense |  |  |  |  |  |  |  |  | (35) |
Other non-operating income, net |  |  |  |  |  |  |  |  | 11 |
Loss on sale of businesses |  |  |  |  |  |  |  |  | (6) |
Income before income taxes |  |  |  |  |  |  |  |  | $ | 712 |
(a) Adjusted cost of revenue and adjusted operating expenses represent segment-level information that are regularly provided to the CODM. These balances represent cost of revenue and operating expenses, respectively, adjusted to exclude purchase accounting intangible amortization, restructuring and realignment expenses and special charges. (b) Other segment items for each segment represents purchase accounting intangible amortization, restructuring and realignment expenses and special charges, which are excluded from the above significant expense categories regularly provided to the CODM in line with our adjusted measures as outlined in Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report. The following table contains financial information for each reportable segment:
| Three Months Ended |  | Nine Months Ended
| September 30, |  | September 30,
(in millions) | 2025 |  | 2024 |  | 2025 |  | 2024
Depreciation and Amortization: |  |  |  |  |  |  |
Water Infrastructure | $ | 24 |  |  | $ | 25 |  |  | $ | 71 |  |  | $ | 93 |
Applied Water | 8 |  |  | 7 |  |  | 25 |  |  | 21 |
Measurement and Control Solutions | 43 |  |  | 33 |  |  | 126 |  |  | 98 |
Water Solutions and Services | 64 |  |  | 73 |  |  | 203 |  |  | 199 |
Corporate and other | 3 |  |  | 3 |  |  | 7 |  |  | 9 |
Total | $ | 142 |  |  | $ | 141 |  |  | $ | 432 |  |  | $ | 420 |
Capital Expenditures: |  |  |  |  |  |  |
Water Infrastructure | $ | 7 |  |  | $ | 7 |  |  | $ | 29 |  |  | $ | 24 |
Applied Water | 9 |  |  | 5 |  |  | 23 |  |  | 13 |
Measurement and Control Solutions | 20 |  |  | 14 |  |  | 56 |  |  | 51 |
Water Solutions and Services | 30 |  |  | 37 |  |  | 93 |  |  | 103 |
Regional selling locations (a) | 6 |  |  | 5 |  |  | 23 |  |  | 16 |
Corporate and other | 7 |  |  | 6 |  |  | 24 |  |  | 14 |
Total | $ | 79 |  |  | $ | 74 |  |  | $ | 248 |  |  | $ | 221 |
(a)Represents capital expenditures incurred by the Regional selling locations not allocated to the segments.

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration