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Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Financial Information by Reportable Business Segment | Financial information by reportable segment as well as a reconciliation of reportable segment income to consolidated income from continuing operations before income taxes is as follows:
| June 30, 2025 | December 31, 2024
In millions | Identifiable assets (1)
Flow | $ | 1,703.0 |  | $ | 1,590.7 |
Water Solutions | 2,589.5 |  | 2,613.5 |
Pool | 1,742.9 |  | 1,801.3 |
Reportable segment total | 6,035.4 |  | 6,005.5 |
Corporate and other | 444.1 |  | 441.0 |
Consolidated | $ | 6,479.5 |  | $ | 6,446.5 |
(1) All cash and cash equivalents are included in “Corporate and other.”
| Three months ended |  | Six months ended |  | Three months ended |  | Six months ended
| June 30, 2025 | June 30, 2024 |  | June 30, 2025 | June 30, 2024 |  | June 30, 2025 | June 30, 2024 |  | June 30, 2025 | June 30, 2024
In millions | Capital expenditures |  | Depreciation
Flow | $ | 3.1 |  | $ | 4.2 |  |  | $ | 6.9 |  | $ | 7.2 |  |  | $ | 5.2 |  | $ | 5.5 |  |  | $ | 10.4 |  | $ | 10.8 |
Water Solutions | 2.9 |  | 4.8 |  |  | 5.7 |  | 14.9 |  |  | 4.0 |  | 4.4 |  |  | 8.0 |  | 8.8 |
Pool | 3.8 |  | 4.9 |  |  | 10.2 |  | 8.2 |  |  | 3.6 |  | 3.3 |  |  | 6.7 |  | 6.3 |
Reportable segment total | 9.8 |  | 13.9 |  |  | 22.8 |  | 30.3 |  |  | 12.8 |  | 13.2 |  |  | 25.1 |  | 25.9 |
Corporate and other | 1.1 |  | 3.1 |  |  | 4.9 |  | 6.0 |  |  | 1.8 |  | 2.3 |  |  | 4.3 |  | 4.5 |
Consolidated | $ | 10.9 |  | $ | 17.0 |  |  | $ | 27.7 |  | $ | 36.3 |  |  | $ | 14.6 |  | $ | 15.5 |  |  | $ | 29.4 |  | $ | 30.4 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated |
Three months ended June 30, 2025
In millions | Flow | Water Solutions | Pool | Total
Net sales | $ | 397.3 |  | $ | 298.3 |  | $ | 427.2 |  | $ | 1,122.8 |
Reconciliation of consolidated net sales |  |  |  |
Corporate and other |  |  |  | 0.3 |
Total consolidated net sales |  |  |  | $ | 1,123.1 |
Cost of goods sold (1)(3) | (246.3) |  | (183.8) |  | (229.0) |  |
Operating expenses (1)(2)(3) | (57.9) |  | (44.3) |  | (45.5) |  |
Reportable segment income | $ | 93.1 |  | $ | 70.2 |  | $ | 152.7 |  | $ | 316.0 |
Corporate and other |  |  |  | (19.3) |
Restructuring and other |  |  |  | (10.4) |
Transformation costs |  |  |  | (12.5) |
Asset impairment and write-offs |  |  |  | (41.8) |
Loss on sale of business |  |  |  | (26.3) |
Intangible amortization |  |  |  | (14.3) |
Interest expense, net |  |  |  | (17.9) |
Other expense |  |  |  | (1.0) |
Income from continuing operations before income taxes |  |  |  | $ | 172.5 |
Three months ended June 30, 2024
In millions | Flow | Water Solutions | Pool | Total
Net sales | $ | 396.8 |  | $ | 310.5 |  | $ | 391.5 |  | $ | 1,098.8 |
Reconciliation of consolidated net sales |  |  |  |
Corporate and other |  |  |  | 0.5 |
Total consolidated net sales |  |  |  | $ | 1,099.3 |
Cost of goods sold (1)(3) | (250.1) |  | (193.8) |  | (216.5) |  |
Operating expenses (1)(2)(3) | (62.3) |  | (43.8) |  | (41.4) |  |
Reportable segment income | $ | 84.4 |  | $ | 72.9 |  | $ | 133.6 |  | $ | 290.9 |
Corporate and other |  |  |  | (19.5) |
Restructuring and other |  |  |  | (5.9) |
Transformation costs |  |  |  | (11.8) |
Legal accrual adjustments and settlements |  |  |  | 7.9 |
Intangible amortization |  |  |  | (13.4) |
Interest expense, net |  |  |  | (26.3) |
Other expense |  |  |  | (1.0) |
Income from continuing operations before income taxes |  |  |  | $ | 220.9 |
Six months ended June 30, 2025
In millions | Flow | Water Solutions | Pool | Total
Net sales | $ | 765.2 |  | $ | 556.5 |  | $ | 811.1 |  | $ | 2,132.8 |
Reconciliation of consolidated net sales |  |  |  |
Corporate and other |  |  |  | 0.7 |
Total consolidated net sales |  |  |  | $ | 2,133.5 |
Cost of goods sold (1)(3) | (475.1) |  | (341.6) |  | (442.8) |  |
Operating expenses (1)(2)(3) | (113.4) |  | (84.0) |  | (89.6) |  |
Reportable segment income | $ | 176.7 |  | $ | 130.9 |  | $ | 278.7 |  | $ | 586.3 |
Corporate and other |  |  |  | (47.1) |
Restructuring and other |  |  |  | (20.9) |
Transformation costs |  |  |  | (21.6) |
Asset impairment and write-offs |  |  |  | (47.0) |
Loss on sale of business |  |  |  | (26.3) |
Intangible amortization |  |  |  | (28.5) |
Interest expense, net |  |  |  | (37.6) |
Other expense |  |  |  | (1.9) |
Income from continuing operations before income taxes |  |  |  | $ | 355.4 |
Six months ended June 30, 2024
In millions | Flow | Water Solutions | Pool | Total
Net sales | $ | 781.1 |  | $ | 583.6 |  | $ | 751.0 |  | $ | 2,115.7 |
Reconciliation of consolidated net sales |  |  |  |
Corporate and other |  |  |  | 0.8
Total consolidated net sales |  |  |  | $ | 2,116.5 |
Cost of goods sold (1)(3) | (497.1) |  | (366.3) |  | (423.0) |  |
Operating expenses (1)(2)(3) | (122.3) |  | (88.8) |  | (83.6) |  |
Reportable segment income | $ | 161.7 |  | $ | 128.5 |  | $ | 244.4 |  | $ | 534.6 |
Corporate and other |  |  |  | (45.9) |
Restructuring and other |  |  |  | (10.5) |
Transformation costs |  |  |  | (28.8) |
Asset impairment and write-offs |  |  |  | (0.8) |
Legal accrual adjustments and settlements |  |  |  | 8.2 |
Intangible amortization |  |  |  | (26.9) |
Interest expense, net |  |  |  | (53.6) |
Other expense |  |  |  | (2.0) |
Income from continuing operations before income taxes |  |  |  | $ | 374.3 |
(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker which includes certain corporate overhead allocations directly attributable to each of the segments. (2) Operating expenses include selling, general, administrative, research and development costs which primarily consist of non-manufacturing employee compensation, non-manufacturing overhead and professional service costs as well as depreciation expense. (3) These costs exclude certain expenses reported in the Condensed Consolidated Statements of Operations and Comprehensive Income, including costs that are reflected in "Corporate and other,” and expenses excluded from reportable segment income as defined above.

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- Definition Tabular disclosure of the reconciliation of profit (loss) from reportable segments to the consolidated income (loss) before income tax expense (benefit) and discontinued operations. Includes, but is not limited to, reconciliation after income tax if income tax is allocated to the reportable segment. + 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 (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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