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Business Segments Information (Tables) | 3 Months Ended
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Jun. 30, 2026
Segment Reporting [Abstract] |
Schedule of Revenue from Reportable Segments by Product Type | The following table sets forth reportable segment information with respect to the amount of Net sales contributed by each class of similar products for the periods presented:
| Three Months Ended June 30, 2026
(Amounts in thousands) | Stormwater |  | Wastewater |  | Intersegment Eliminations |  | Total
Net sales: |  |  |  |  |  |  |
Net sales from external customers | $ | 809,376 |  |  | $ | 191,736 |  |  | $ | — |  |  | $ | 1,001,112 |
Intersegment net sales | 11,566 |  |  | 17,184 |  |  | (28,750) |  |  | — |
Net sales | 820,942 |  |  | 208,920 |  |  | (28,750) |  |  | 1,001,112 |
Significant segment expenses: |  |  |  |  |  |  |
Costs of goods sold | 518,812 |  |  | 104,600 |  |  | (30,347) |  |  | 593,065 |
Selling, general and administrative expenses | 100,681 |  |  | 17,650 |  |  | — |  |  | 118,331 |
Other segment items(a) | (72,252) |  |  | (8,789) |  |  | — |  |  | (81,041) |
Segment Adjusted EBITDA(b) | $ | 273,701 |  |  | $ | 95,459 |  |  | $ | 1,597 |  |  |
Corporate and other costs(c) |  |  |  |  |  |  | 12,487 |
Total consolidated Adjusted EBITDA |  |  |  |  |  |  | $ | 358,270 |
Reconciliation of total reportable segment Adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net |  |  |  |  |  |  | 27,040 |
Interest income |  |  |  |  |  |  | (1,291) |
Depreciation and amortization |  |  |  |  |  |  | 62,157 |
Stock-based compensation expense |  |  |  |  |  |  | 13,274 |
Loss (gain) on disposal of assets and costs from exit and disposal activities |  | 2,621 |
Transaction costs(d) |  |  |  |  |  |  | 3,244 |
Inventory step up related to acquisition of NDS |  |  |  |  |  | 14,197 |
Other adjustments(e) |  |  |  |  |  |  | 8,068 |
Income before income taxes |  |  |  |  |  |  | 228,960 |
Income tax expense |  |  |  |  |  |  | 53,689 |
Equity in net income of unconsolidated affiliates |  | (1,297) |
Net income from continuing operations |  |  |  |  |  |  | $ | 176,568 |
(a)Other segment items include depreciation, amortization recorded within cost of goods sold, stock-based compensation expense, inventory step-up costs, restructuring and realignment expense, and transaction costs. (b)The Company calculates Segment Adjusted EBITDA as net income from continuing operations before interest, income taxes, depreciation and amortization, stock-based compensation expense, non-cash charges and certain other gains and expenses. (c)Represents certain unallocated selling, general and administrative expenses required to reconcile segment Adjusted EBITDA to consolidated Adjusted EBITDA. (d)Represents expenses recorded related to legal, accounting and other professional fees incurred in connection with business or asset acquisitions and dispositions. (e)Includes derivative fair value adjustments, foreign currency transaction (gains) losses, legal settlements, restructuring and realignment expense, and executive retirement expense (benefit).
| Three Months Ended June 30, 2025
(Amounts in thousands) | Stormwater |  | Wastewater |  | Intersegment Eliminations |  | Total
Net sales: |  |  |  |  |  |  |
Net sales from external customers | $ | 651,527 |  |  | $ | 178,353 |  |  | $ | — |  |  | $ | 829,880 |
Intersegment net sales | 9,076 |  |  | 16,609 |  |  | (25,685) |  |  | — |
Net sales | 660,603 |  |  | 194,962 |  |  | (25,685) |  |  | 829,880 |
Significant segment expenses: |  |  |  |  |  |  |
Costs of goods sold | 427,119 |  |  | 97,251 |  |  | (24,928) |  |  | 499,442 |
Selling, general and administrative expenses | 73,782 |  |  | 18,344 |  |  | — |  |  | 92,126 |
Other segment items(a) | (43,793) |  |  | (7,897) |  |  | — |  |  | (51,690) |
Segment Adjusted EBITDA(b) | $ | 203,495 |  |  | $ | 87,264 |  |  | $ | (757) |  |  |
Corporate and other costs(c) |  |  |  |  |  |  | 11,835 |
Total consolidated Adjusted EBITDA |  |  |  |  |  |  | $ | 278,167 |
Reconciliation of total reportable segment Adjusted EBITDA to income from continuing operations before income taxes:
Interest expense, net |  |  |  |  |  |  | 23,029 |
Interest income |  |  |  |  |  |  | (5,405) |
Depreciation and amortization |  |  |  |  |  |  | 50,228 |
Stock-based compensation expense |  |  |  |  |  |  | 8,404 |
Loss (gain) on disposal of assets and costs from exit and disposal activities |  | 7,024 |
Transaction costs(d) |  |  |  |  |  |  | 807 |
Other adjustments(e) |  |  |  |  |  |  | 4,658 |
Income before income taxes |  |  |  |  |  |  | 189,422 |
Income tax expense |  |  |  |  |  |  | 46,674 |
Equity in net income of unconsolidated affiliates |  | (1,343) |
Net income from continuing operations |  |  |  |  |  |  | $ | 144,091 |
(a)Other segment items include depreciation, amortization recorded within cost of goods sold, stock-based compensation expense, inventory step-up costs, restructuring and realignment expense, and transaction costs. (b)The Company calculates Segment Adjusted EBITDA as net income from continuing operations before interest, income taxes, depreciation and amortization, stock-based compensation expense, non-cash charges and certain other gains and expenses. (c)Represents certain unallocated selling, general and administrative expenses required to reconcile segment Adjusted EBITDA to consolidated Adjusted EBITDA. (d)Represents expenses recorded related to legal, accounting and other professional fees incurred in connection with business or asset acquisitions and dispositions. (e)Includes derivative fair value adjustments, foreign currency transaction (gains) losses, legal settlements, inventory step-up costs, restructuring and realignment expense, and executive retirement expense (benefit). The following sets forth certain financial information attributable to the reportable segments for the periods presented:
| Three Months Ended June 30, |  |
(In thousands) | 2026 |  | 2025 |  |  |  |
Depreciation and Amortization |  |  |  |  |  |  |
Stormwater | $ | 40,504 |  |  | $ | 28,896 |  |  |  |  |
Wastewater | 18,867 |  |  | 19,254 |  |  |  |  |
Other | 2,786 |  |  | 2,078 |  |  |  |  |
Total | $ | 62,157 |  |  | $ | 50,228 |  |  |  |  |
Capital Expenditures |  |  |  |  |  |  |
Stormwater | $ | 42,504 |  |  | $ | 40,602 |  |  |  |  |
Wastewater | 14,356 |  |  | 5,735 |  |  |  |  |
Other | 291 |  |  | 6,261 |  |  |  |  |
Total | $ | 57,151 |  |  | $ | 52,598 |  |  |  |  |

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- Definition Tabular disclosure of reconciliation of revenue by reportable segment to consolidated revenue. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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