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Segment Information
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Information Segment Information
Our business has four reportable segments: Water Infrastructure, Applied Water, Measurement and Control Solutions and Water Solutions and Services. The Water Infrastructure segment focuses on the transportation and treatment of water, offering a range of products including water, wastewater and storm water pumps, controls and systems; treatment equipment: filtration and separation, disinfection, wastewater solutions for municipal and industrial applications. The Applied Water segment serves many of the primary uses of water and focuses on the residential, commercial and industrial markets. The Applied Water segment's major products include pumps, valves, heat exchangers, controls and dispensing equipment. The Measurement and Control Solutions segment focuses on developing advanced technology solutions that enable intelligent use and conservation of critical water and energy resources as well as analytical instrumentation used in the testing of water. The Measurement and Control Solutions segment's major products include smart metering, networked communications, measurement and control technologies, critical infrastructure technologies, software and services including cloud-based analytics, and remote monitoring and data management. The Water Solutions and Services segment provides tailored services and solutions, in collaboration with customers and backed by life‑cycle services, including on‑demand water, outsourced water, recycle / reuse, specialty dewatering and emergency response service alternatives to improve operational reliability, performance and environmental compliance. Key offerings within this segment also include equipment systems for industrial needs (influent water, boiler feed water, ultrahigh purity, process water, wastewater treatment, and recycle / reuse), full-scale outsourcing of operations and maintenance, and municipal services, including odor and corrosion control services, as well as leak detection, condition assessment and asset management and pressure monitoring solutions.
Additionally, we have Regional selling locations, which consist primarily of selling and marketing organizations and related support services, that offer products and services across our reportable segments. Corporate and other consists of corporate office expenses including compensation, benefits, occupancy, depreciation, and other administrative costs, as well as charges related to certain matters, such as environmental matters, that are managed at a corporate level and are not included in the business segments in evaluating performance or allocating resources.
Disaggregated asset information by segment is not provided to the chief operating decision maker ("CODM") for review, therefore, such information is not presented. The following tables contain financial information provided to the CODM for each reportable segment:
(in millions)Water InfrastructureApplied WaterMeasurement and Control SolutionsWater Solutions and ServicesTotal
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, net6 
Loss on sale of businesses(37)
Income before income taxes$297 
(in millions)Water InfrastructureApplied WaterMeasurement and Control SolutionsWater Solutions and ServicesTotal
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, net1 
Loss on sale of businesses(2)
Income before income taxes$269 

(in millions)Water InfrastructureApplied WaterMeasurement and Control SolutionsWater Solutions and ServicesTotal
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, net13 
Loss on sale of businesses(47)
Income before income taxes$813 
(in millions)Water InfrastructureApplied WaterMeasurement and Control SolutionsWater Solutions and ServicesTotal
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, net11 
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 accounting policies of each segment are the same as those described in the "Summary of Significant Accounting Policies" section of Note 1 in the Annual Report. The following table contains financial information for each reportable segment:
Three Months EndedNine Months Ended
September 30,September 30,
(in millions)2025202420252024
Depreciation and Amortization:
Water Infrastructure$24 $25 $71 $93 
Applied Water8 7 25 21 
Measurement and Control Solutions43 33 126 98 
Water Solutions and Services64 73 203 199 
Corporate and other3 3 7 9 
Total$142 $141 $432 $420 
Capital Expenditures:
Water Infrastructure$7 $7 $29 $24 
Applied Water9 5 23 13 
Measurement and Control Solutions20 14 56 51 
Water Solutions and Services30 37 93 103 
Regional selling locations (a)6 5 23 16 
Corporate and other7 6 24 14 
Total$79 $74 $248 $221 
(a)Represents capital expenditures incurred by the Regional selling locations not allocated to the segments.