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Revenue (Tables)

9 Months Ended

Sep. 30, 2025

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)			2025						2024						2025						2024
Revenue from contracts with customers			$	2,177					$	1,973					$	6,406					$	5,920
Lease Revenue			91						131						232						386
Total			$	2,268					$	2,104					$	6,638					$	6,306

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

			Three Months Ended												Nine Months Ended
			September 30,												September 30,
(in millions)			2025						2024						2025						2024
Water Infrastructure
Transport			$	377					$	349					$	1,107					$	1,057
Treatment			279						273						780						770
Applied Water
Building Solutions			260						248						777						743
Industrial Water			196						199						597						596
Measurement and Control Solutions
Smart Metering and Other			428						372						1,281						1,142
Analytics			94						86						271						260
Water Solutions and Services
Capital and Other			288						198						841						621
Services			255						248						752						731
Total			$	2,177					$	1,973					$	6,406					$	5,920

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

			Three Months Ended												Nine Months Ended
			September 30,												September 30,
(in millions)			2025						2024						2025						2024
Water Infrastructure
United States			$	256					$	209					$	704					$	638
Western Europe			223						218						673						654
Emerging Markets (a)			118						136						353						372
Other			59						59						157						163
Applied Water
United States			250						237						755						708
Western Europe			102						96						307						297
Emerging Markets (a)			68						81						210						238
Other			36						33						102						96
Measurement and Control Solutions
United States			340						322						1,022						956
Western Europe			93						61						259						220
Emerging Markets (a)			46						47						143						138
Other			43						28						128						88
Water Solutions and Services
United States			403						342						1,185						1,035
Western Europe			23						24						73						71
Emerging Markets (a)			69						42						175						125
Other			48						38						160						121
Total			$	2,177					$	1,973					$	6,406					$	5,920

(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, 2024			$	263		$	315
Additions, net			353			211
Revenue recognized from opening balance			—			(227)
Billings transferred to accounts receivable			(343)			—
Foreign currency and other			1			(5)
Balance at September 30, 2024			$	274		$	294
Balance at January 1, 2025			$	303		$	322
Additions, net			316			205
Revenue recognized from opening balance			—			(227)
Billings transferred to accounts receivable			(161)			—
Foreign currency and other			10			(2)
Balance at September 30, 2025			$	468		$	298

(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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