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Restructuring and Transformation Program | 6 Months Ended
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Jun. 30, 2025
Restructuring and Related Activities [Abstract] |
Restructuring and Transformation Programs | Restructuring and Transformation Program In 2021, we launched and committed resources to a program designed to accelerate growth and drive margin expansion through transformation of our business model to drive operational excellence, reduce complexity and streamline our processes (the “Transformation Program”). The Transformation Program is structured in multiple phases and is expected to empower us to work more efficiently and optimize our business to better serve our customers while meeting our financial objectives. During the six months ended June 30, 2025, we initiated and continued execution of activities associated with our Transformation Program as well as initiated and continued certain business restructuring initiatives aimed at reducing our fixed cost structure and realigning our business. Restructuring and Transformation Program initiatives included a reduction in hourly and salaried headcount of approximately 185 employees during the six months ended June 30, 2025. Restructuring and transformation-related costs included within Cost of goods sold and Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations and Comprehensive Income included the following:
| Three months ended |  | Six months ended
In millions | June 30, 2025 | June 30, 2024 |  | June 30, 2025 | June 30, 2024
Restructuring Initiatives
Severance and related costs | $ | 12.0 |  | $ | 5.4 |  |  | $ | 20.3 |  | $ | 9.4 |
Other restructuring costs and related adjustments (1) | 3.5 |  | (0.1) |  |  | 4.9 |  | 0.9 |
Total restructuring costs | 15.5 |  | 5.3 |  |  | 25.2 |  | 10.3 |
Transformation Program
Severance and related costs | — |  | 0.3 |  |  | — |  | 0.7 |
Asset impairment and write-offs | 10.3 |  | — |  |  | 15.5 |  | — |
Other transformation costs (2) | 12.5 |  | 11.5 |  |  | 21.6 |  | 28.1 |
Total transformation costs | 22.8 |  | 11.8 |  |  | 37.1 |  | 28.8 |
Total restructuring and transformation costs | $ | 38.3 |  | $ | 17.1 |  |  | $ | 62.3 |  | $ | 39.1 |
(1) Other restructuring costs and related adjustments primarily consist of certain accruals and related refinements as well as various contract termination costs, asset impairments and inventory write-offs associated with business and product line exits.
(2) Other transformation costs primarily consist of professional services and project management related costs.
Restructuring and transformation costs by reportable segment as well as Corporate and other were as follows:
| Three months ended |  | Six months ended
In millions | June 30, 2025 | June 30, 2024 |  | June 30, 2025 | June 30, 2024
Flow | $ | 9.7 |  | $ | 2.4 |  |  | $ | 18.5 |  | $ | 5.0 |
Water Solutions | 5.7 |  | 0.9 |  |  | 9.8 |  | 1.5 |
Pool | 5.8 |  | 1.7 |  |  | 9.0 |  | 5.4 |
Corporate and other | 17.1 |  | 12.1 |  |  | 25.0 |  | 27.2 |
Total restructuring and transformation costs | $ | 38.3 |  | $ | 17.1 |  |  | $ | 62.3 |  | $ | 39.1 |
Activity related to accrued severance and related costs recorded in Other current liabilities in the Condensed Consolidated Balance Sheets is summarized as follows for the six months ended June 30, 2025:
In millions | June 30, 2025
Beginning balance | $ | 18.7 |
Costs incurred | 20.3 |
Cash payments and other | (16.1) |
Ending balance | $ | 22.9 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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