XML 52 R40.htm IDEA: XBRL DOCUMENT
v3.25.3

Segment Information (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Summarized Financial Information of Reportable Segments | The following is a summary of the financial information of the reportable segments reconciled to the amounts reported in the condensed consolidated financial statements:
| Three Months Ended September 30, 2025 |  |
(Amounts in thousands) | FPD |  | FCD |  | Subtotal – Reportable Segments |  | Eliminations and All Other |  | Consolidated Total |  |
Sales to external customers | 799,306 |  |  | 375,128 |  |  | 1,174,434 |  |  | — |  |  | 1,174,434 |  |  |
Intersegment sales | 1,002 |  |  | 2,255 |  |  | 3,257 |  |  | (3,257) |  |  | — |  |  |
Cost of Sales | (534,532) |  |  | (263,133) |  |  | (797,665) |  |  |  |  |  |  |
Selling, general and administrative expense | (135,046) |  |  | (67,810) |  |  | (202,856) |  |  |  |  |  |  |
Other Segment items (1) | 4,138 |  |  | — |  |  | 4,138 |  |  |  |  |  |  |
Segment operating income | 134,869 |  |  | 46,440 |  |  | 181,309 |  |  |  |  |  |  |
Depreciation and amortization | 10,718 |  |  | 8,956 |  |  | 19,674 |  |  | 4,736 |  |  | 24,410 |  |  |
Identifiable assets | 3,340,680 |  |  | 1,756,283 |  |  | 5,096,963 |  |  | 733,351 |  |  | 5,830,314 |  |  |
Capital expenditures | 8,305 |  |  | 2,350 |  |  | 10,655 |  |  | 6,539 |  |  | 17,194 |  |  |
| Three Months Ended September 30, 2024 |  |
(Amounts in thousands) | FPD |  | FCD |  | Subtotal – Reportable Segments |  | Eliminations and All Other |  | Consolidated Total |  |
Sales to external customers | 781,372 |  |  | 351,715 |  |  | 1,133,087 |  |  | — |  |  | 1,133,087 |  |  |
Intersegment sales | 762 |  |  | 1,410 |  |  | 2,172 |  |  | (2,172) |  |  | — |  |  |
Cost of Sales | (528,950) |  |  | (246,622) |  |  | (775,572) |  |  |  |  |  |  |
Selling, general and administrative expense | (149,060) |  |  | (59,790) |  |  | (208,850) |  |  |  |  |  |  |
Other Segment items (1) | 5,150 |  |  | — |  |  | — |  |  |  |  |  |  |
Segment operating income | 109,274 |  |  | 46,713 |  |  | 155,987 |  |  |  |  |  |  |
Depreciation and amortization | 11,473 |  |  | 4,269 |  |  | 15,742 |  |  | 5,231 |  |  | 20,973 |  |  |
Identifiable assets | 3,266,724 |  |  | 1,415,798 |  |  | 4,682,522 |  |  | 592,036 |  |  | 5,274,558 |  |  |
Capital expenditures | 16,540 |  |  | 3,551 |  |  | 20,091 |  |  | 3,789 |  |  | 23,880 |  |  |
| Nine Months Ended September 30, 2025 |  |
(Amounts in thousands) | FPD |  | FCD |  | Subtotal – Reportable Segments |  | Eliminations and All Other |  | Consolidated Total |  |
Sales to external customers | $ | 2,398,295 |  |  | $ | 1,108,774 |  |  | $ | 3,507,069 |  |  | $ | — |  |  | $ | 3,507,069 |  |  |
Intersegment sales | 4,097 |  |  | 4,165 |  |  | 8,262 |  |  | (8,262) |  |  | — |  |  |
Cost of Sales | (1,568,925) |  |  | (790,808) |  |  | (2,359,733) |  |  |  |  |  |  |
Selling, general and administrative expense | (415,126) |  |  | (206,437) |  |  | (621,563) |  |  |  |  |  |  |
Other Segment items (1) | 15,786 |  |  | — |  |  | 15,786 |  |  |  |  |  |  |
Segment operating income | 434,128 |  |  | 115,694 |  |  | 549,822 |  |  |  |  |  |  |
Depreciation and amortization | 31,147 |  |  | 27,843 |  |  | 58,990 |  |  | 13,704 |  |  | 72,694 |  |  |
Identifiable assets | 3,340,680 |  |  | 1,756,283 |  |  | 5,096,963 |  |  | 733,351 |  |  | 5,830,314 |  |  |
Capital expenditures | 25,872 |  |  | 7,977 |  |  | 33,849 |  |  | 11,685 |  |  | 45,534 |  |  |
| Nine Months Ended September 30, 2024 |  |
(Amounts in thousands) | FPD |  | FCD |  | Subtotal – Reportable Segments |  | Eliminations and All Other |  | Consolidated Total |  |
Sales to external customers | 2,360,748 |  |  | 1,016,710 |  |  | 3,377,458 |  |  | — |  |  | 3,377,458 |  |  |
Intersegment sales | 2,959 |  |  | 4,658 |  |  | 7,617 |  |  | (7,617) |  |  | — |  |  |
Cost of Sales | (1,602,369) |  |  | (715,899) |  |  | (2,318,268) |  |  |  |  |  |  |
Selling, general and administrative expense | (424,824) |  |  | (178,816) |  |  | (603,640) |  |  |  |  |  |  |
Other Segment items (1) | 14,632 |  |  | (12,981) |  |  | 1,651 |  |  |  |  |  |  |
Segment operating income | 351,146 |  |  | 113,673 |  |  | 464,819 |  |  |  |  |  |  |
Depreciation and amortization | 34,348 |  |  | 13,314 |  |  | 47,662 |  |  | 15,585 |  |  | 63,247 |  |  |
Identifiable assets | 3,266,724 |  |  | 1,415,798 |  |  | 4,682,522 |  |  | 592,036 |  |  | 5,274,558 |  |  |
Capital expenditures | 37,581 |  |  | 7,618 |  |  | 45,199 |  |  | 6,970 |  |  | 52,169 |  |  |
__________________ (1) Other Segment items comprises Net Earnings from Affiliates and for the nine-month period ended September 30, 2024 includes the Loss on sale of business of $13 million recorded in the FCD segment in the second quarter of 2024 related to disposal of the NAF AB control valves business. The following are reconciliations from total segment operating income to earnings before income tax reported in the condensed consolidated income statements.
| Three Months Ended September 30,
| 2025 |  | 2024
| (Amounts in thousands)
Total segment operating income | 181,309 |  |  | 155,987 |
Intersegment sales | (3,257) |  |  | (2,172) |
Eliminations and all other cost of sales | 3,516 |  |  | (448) |
Eliminations and all other SG&A | (102,296) |  |  | (50,175) |
Interest expense | (18,738) |  |  | (16,587) |
Interest income | 792 |  |  | 1,403 |
Net earnings (loss) from affiliates | — |  |  | — |
Other income (expense), net | 256,220 |  |  | (5,920) |
Earnings before income taxes | 317,546 |  |  | 82,088 |
| Nine Months Ended September 30,
| 2025 |  | 2024
| (Amounts in thousands)
Total segment operating income | 549,822 |  |  | 464,819 |
Intersegment sales | (8,262) |  |  | (7,617) |
Eliminations and all other cost of sales | 8,865 |  |  | 2,941 |
Eliminations and all other SG&A | (192,674) |  |  | (122,431) |
Interest expense | (58,166) |  |  | (48,820) |
Interest income | 5,063 |  |  | 3,746 |
Net earnings (loss) from affiliates | — |  |  | (137) |
Other income (expense), net | 213,958 |  |  | (12,057) |
Earnings before income taxes | 518,606 |  |  | 280,444 |

X
- 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
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration