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Segment Information | 12 Months Ended
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Sep. 30, 2020
Segment Reporting [Abstract] |
Segment Reporting Disclosure [Text Block] | Segment Information Our operations consist of two reportable segments: Infrastructure and Technologies. These segments are organized primarily based on products sold and customers served and are consistent with how the segments are managed, how resources are allocated and how information is used by the chief operating decision maker. Infrastructure manufactures valves for water and gas systems including butterfly, iron gate, tapping, check, knife, plug, automatic control and ball valves and dry-barrel and wet-barrel fire hydrants and pipe repair products. Technologies offers metering, leak detection, pipe condition assessment and other products and services for the water infrastructure industry. Segment results are not reflective of their results on a stand-alone basis. Intersegment sales and transfers are made at selling prices generally intended to cover costs. Infrastructure personnel provide certain administrative services, including management of accounts payable and accounts receivable, without any allocation of cost to Technologies. We do not believe the costs of such administrative services are material to the segments’ results. The determination of segment results excludes certain expenses designated as Corporate because they are not directly attributable to segment operations. Interest expense, loss on early extinguishment of debt and income taxes are not allocated to the segments. Corporate expenses include those costs incurred by our corporate function, such as accounting, treasury, risk management, human resources, legal, tax and other administrative functions and also costs associated with assets and liabilities retained following the sales of U.S. Pipe and Anvil. Corporate assets principally consist of our cash, operating lease assets, and certain real property previously owned by U.S. Pipe and Anvil. Business segment assets consist primarily of receivables, inventories, property, plant and equipment, intangible assets and other noncurrent assets. Our largest customers are Ferguson and Core & Main. Information regarding concentrations of our net sales and accounts receivable is presented below.
| 2020 |  | 2019 |  | 2018
Percentage of gross revenue: |  |  |  |  |
10 largest customers | 53 | % |  | 53 | % |  | 54 | %
2 largest customers | 34 | % |  | 34 | % |  | 34 | %
Ferguson percentage of gross revenue: |  |  |  |  |
Consolidated | 17 | % |  | 18 | % |  | 19 | %
Infrastructure | 16 | % |  | 17 | % |  | 18 | %
Technologies | 22 | % |  | 30 | % |  | 28 | %
Core & Main percentage of gross revenue: |  |  |  |  |
Consolidated | 17 | % |  | 16 | % |  | 15 | %
Infrastructure | 19 | % |  | 18 | % |  | 17 | %
| September 30,
| 2020 |  | 2019
| (in millions)
Customer receivables: |  |  |
Core & Main | $ | 37.1 |  |  | $ | 31.9 |
Ferguson | 26.1 |  |  | 25.8 |
Geographical area information is presented below.
| United States |  | Israel |  | Other |  | Total
| (in millions)
Property, plant and equipment, net: |  |  |  |  |  |  |
September 30, 2020 | $ | 234.7 |  |  | $ | 12.8 |  |  | $ | 6.3 |  |  | $ | 253.8 |
September 30, 2019 | 201.3 |  |  | 9.7 |  |  | 6.1 |  |  | 217.1 |
| Year ended
| September 30,
| 2020 |  | 2019
| (in millions)
Infrastructure disaggregated net revenues: |  |  |
Central | $ | 222.2 |  |  | $ | 214.2 |
Northeast | 187.5 |  |  | 183.1 |
Southeast | 162.3 |  |  | 162.7 |
West | 216.9 |  |  | 212.8 |
United States | $ | 788.9 |  |  | $ | 772.8 |
Canada | 65.5 |  |  | 69.0 |
Other international locations | 31.1 |  |  | 29.2 |
| $ | 885.5 |  |  | $ | 871.0 |
Technologies disaggregated net revenues: |  |  |
Central | $ | 18.7 |  |  | $ | 27.8 |
Northeast | 19.7 |  |  | 20.4 |
Southeast | 22.1 |  |  | 33.5 |
West | 13.6 |  |  | 10.3 |
United States | $ | 74.1 |  |  | $ | 92.0 |
Canada and other international locations | 4.5 |  |  | 5.0 |
| $ | 78.6 |  |  | $ | 97.0 |
Summarized financial information for our segments is presented below.
| Infrastructure |  | Technologies |  | Corporate |  | Total
| (in millions)
Net revenue: |  |  |  |  |  |  |
2020 | $ | 885.5 |  |  | $ | 78.6 |  |  | $ | — |  |  | $ | 964.1 |
2019 | 871.0 |  |  | 97.0 |  |  | — |  |  | 968.0 |
2018 | 818.8 |  |  | 97.2 |  |  | — |  |  | 916.0 |
Operating income (loss): |  |  |  |  |  |  |
2020 | $ | 186.7 |  |  | $ | (13.1) |  |  | $ | (56.8) |  |  | $ | 116.8 |
2019 | 182.3 |  |  | (8.7) |  |  | (49.3) |  |  | 124.3 |
2018 | 180.1 |  |  | (24.4) |  |  | (34.0) |  |  | 121.7 |
Depreciation and amortization: |  |  |  |  |  |  |
2020 | $ | 49.1 |  |  | $ | 8.5 |  |  | $ | 0.2 |  |  | $ | 57.8 |
2019 | 44.8 |  |  | 7.9 |  |  | 0.3 |  |  | 53.0 |
2018 | 37.4 |  |  | 6.1 |  |  | 0.2 |  |  | 43.7 |
Other charges: |  |  |  |  |  |  |
2020 | $ | 0.6 |  |  | $ | 0.1 |  |  | $ | 12.3 |  |  | $ | 13.0 |
2019 | 1.7 |  |  | — |  |  | 14.6 |  |  | 16.3 |
2018 | 0.1 |  |  | 0.1 |  |  | 10.3 |  |  | 10.5 |
Capital expenditures: |  |  |  |  |  |  |
2020 | $ | 64.5 |  |  | $ | 2.8 |  |  | $ | 0.4 |  |  | $ | 67.7 |
2019 | 80.4 |  |  | 5.5 |  |  | 0.7 |  |  | 86.6 |
2018 | 47.3 |  |  | 8.3 |  |  | 0.1 |  |  | 55.7 |
Total assets: |  |  |  |  |  |  |
September 30, 2020 | $ | 1,149.8 |  |  | $ | 93.2 |  |  | $ | 152.0 |  |  | $ | 1,395.0 |
September 30, 2019 | 1,107.8 |  |  | 100.3 |  |  | 129.2 |  |  | 1,337.3 |
Intangible assets, net: |  |  |  |  |  |  |
September 30, 2020 | $ | 490.8 |  |  | $ | 17.9 |  |  | $ | — |  |  | $ | 508.7 |
September 30, 2019 | 508.2 |  |  | 21.2 |  |  | — |  |  | 529.4 |

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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