XML 28 R11.htm IDEA: XBRL DOCUMENT
v3.25.4

GOODWILL AND OTHER INTANGIBLE ASSETS | 12 Months Ended
--- | ---
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS The carrying amounts of the Company’s intangible assets, excluding goodwill, are as follows:
(In millions) |  | 2025 |  | 2024
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization
Amortizing intangibles: |  |  |  |  |  |  |  |
Customer relationships |  | $ | 309.5 |  |  | $ | (149.7) |  |  | $ | 263.4 |  |  | $ | (128.8) |
Patents |  | 7.4 |  |  | (7.4) |  |  | 7.2 |  |  | (7.2) |
Technology |  | 10.5 |  |  | (7.8) |  |  | 7.5 |  |  | (7.5) |
Trade names |  | 58.6 |  |  | (11.6) |  |  | 44.5 |  |  | (8.1) |
Other |  | 3.1 |  |  | (2.5) |  |  | 2.8 |  |  | (2.4) |
Total |  | $ | 389.1 |  |  | $ | (179.0) |  |  | $ | 325.4 |  |  | $ | (154.0) |
Non-amortizing intangibles: |  |  |  |  |  |  |  |
Trade names |  | 41.6 |  |  | — |  |  | 41.6 |  |  | — |
Total intangibles |  | $ | 430.7 |  |  | $ | (179.0) |  |  | $ | 367.0 |  |  | $ | (154.0) |
Amortization expense related to intangible assets for the years ended December 31, 2025, 2024, and 2023, was $23.6 million, $18.8 million, and $17.1 million, respectively. Amortization expense for each of the five succeeding years is projected as follows:
(In millions) |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | 2030
|  | $ | 24.0 |  |  | $ | 22.5 |  |  | $ | 21.9 |  |  | $ | 20.9 |  |  | $ | 20.3 |
The change in the carrying amount of goodwill by reportable segment for 2025 and 2024, is as follows:
(In millions) |  | Water Systems |  | Energy Systems |  | Distribution |  | Consolidated
Balance as of December 31, 2023 |  | $ | 221.4 |  |  | $ | 70.4 |  |  | $ | 50.6 |  |  | $ | 342.4 |
Acquisitions |  | 0.8 |  |  | — |  |  | — |  |  | 0.8 |
Adjustments to prior year acquisitions |  | (1.0) |  |  | — |  |  | — |  |  | (1.0) |
Foreign currency translation |  | (3.6) |  |  | (0.1) |  |  | — |  |  | (3.7) |
Balance as of December 31, 2024 |  | $ | 217.6 |  |  | $ | 70.3 |  |  | $ | 50.6 |  |  | $ | 338.5 |
Acquisitions |  | 55.2 |  |  | — |  |  | — |  |  | 55.2 |
Adjustments to prior year acquisitions |  | 0.1 |  |  | — |  |  | — |  |  | 0.1 |
Foreign currency translation |  | 4.1 |  |  | 0.2 |  |  | — |  |  | 4.3 |
Balance as of December 31, 2025 |  | $ | 277.0 |  |  | $ | 70.5 |  |  | 50.6 |  |  | $ | 398.1 |

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

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration