XML 215 R39.htm IDEA: XBRL DOCUMENT
v3.23.3

Segment Information (Tables) | 12 Months Ended
--- | ---
Sep. 30, 2023
Segment Reporting [Abstract] |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | The Company has two significant customers that comprise greater than 10% of gross sales. One customer comprised 18%, 21%, and 18% of consolidated revenues for the fiscal years ended September 30, 2023, 2022, and 2021, respectively. The Company has outstanding Accounts receivable from this customer of $46.4 million and $52.1 million as of September 30, 2023 and 2022, respectively. Another customer comprised 18%, 20%, and 19% of consolidated revenues for the fiscal years ended September 30, 2023, 2022, and 2021, respectively. The Company has outstanding Accounts receivable from this customer of $37.7 million and $38.6 million as of September 30, 2023 and 2022, respectively. The Company reports revenue for these customers in both reportable segments, Water Flow Solutions and Water Management Solutions.
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas | Geographical area information is presented below.
| United States |  | Israel |  | Other |  | Total
| (in millions)
Property, plant and equipment, net: |  |  |  |  |  |  |
September 30, 2023 | $ | 295.6 |  |  | $ | 11.9 |  |  | $ | 4.2 |  |  | $ | 311.7 |
September 30, 2022 | $ | 284.9 |  |  | $ | 12.6 |  |  | $ | 4.1 |  |  | $ | 301.6 |
| Year ended September 30,
| 2023 |  | 2022 |  | 2021
| (in millions)
Water Flow Solutions disaggregated net revenue: |  |  |  |  |
Central | $ | 176.0 |  |  | $ | 190.9 |  |  | $ | 155.1 |
Northeast | 130.6 |  |  | 125.3 |  |  | 110.4 |
Southeast | 118.4 |  |  | 154.3 |  |  | 125.7 |
West | 160.9 |  |  | 182.8 |  |  | 172.4 |
United States | $ | 585.9 |  |  | $ | 653.3 |  |  | $ | 563.6 |
Canada | 36.2 |  |  | 55.0 |  |  | 45.7 |
Other international locations | 12.3 |  |  | 5.8 |  |  | 8.5 |
| $ | 634.4 |  |  | $ | 714.1 |  |  | $ | 617.8 |
Water Management Solutions disaggregated net revenue: |  |  |  |  |
Central | $ | 169.2 |  |  | $ | 142.9 |  |  | $ | 125.6 |
Northeast | 151.2 |  |  | 115.1 |  |  | 100.2 |
Southeast | 137.4 |  |  | 109.4 |  |  | 106.5 |
West | 119.0 |  |  | 102.9 |  |  | 99.1 |
United States | $ | 576.8 |  |  | $ | 470.3 |  |  | $ | 431.4 |
Canada | 38.3 |  |  | 39.2 |  |  | 38.1 |
Other international locations | 26.2 |  |  | 23.8 |  |  | 23.7 |
| $ | 641.3 |  |  | $ | 533.3 |  |  | $ | 493.2 |
Schedule Of Selected Supplemental Balance Sheet Information | Summarized financial information for our segments is presented below.
| Water Flow Solutions |  | Water Management Solutions |  | Corporate |  | Total
| (in millions)
Net revenue: |  |  |  |  |  |  |
2023 | $ | 634.4 |  |  | $ | 641.3 |  |  | $ | — |  |  | $ | 1,275.7 |
2022 | 714.1 |  |  | 533.3 |  |  | — |  |  | 1,247.4 |
2021 | $ | 617.8 |  |  | $ | 493.2 |  |  | $ | — |  |  | $ | 1,111.0 |
Operating income (loss): |  |  |  |  |  |  |
2023 | $ | 79.6 |  |  | $ | 106.0 |  |  | $ | (58.2) |  |  | $ | 127.4 |
2022 | 118.3 |  |  | 48.7 |  |  | (55.4) |  |  | 111.6 |
2021 | $ | 120.9 |  |  | $ | 70.3 |  |  | $ | (59.5) |  |  | $ | 131.7 |
Depreciation and amortization: |  |  |  |  |  |  |
2023 | $ | 32.8 |  |  | $ | 29.5 |  |  | $ | 0.2 |  |  | $ | 62.5 |
2022 | 30.0 |  |  | 30.3 |  |  | 0.2 |  |  | 60.5 |
2021 | $ | 30.5 |  |  | $ | 28.9 |  |  | $ | 0.2 |  |  | $ | 59.6 |
Strategic reorganization and other charges: |  |  |  |  |  |  |
2023 | $ | — |  |  | $ | 1.7 |  |  | $ | 8.5 |  |  | $ | 10.2 |
2022 | 0.2 |  |  | 0.4 |  |  | 6.6 |  |  | 7.2 |
2021 | $ | 0.1 |  |  | $ | (0.4) |  |  | $ | 8.3 |  |  | $ | 8.0 |
Capital expenditures: |  |  |  |  |  |  |
2023 | $ | 33.4 |  |  | $ | 14.2 |  |  | $ | — |  |  | $ | 47.6 |
2022 | 43.4 |  |  | 11.3 |  |  | — |  |  | 54.7 |
2021 | $ | 51.0 |  |  | $ | 11.6 |  |  | $ | 0.1 |  |  | $ | 62.7 |
Intangible assets, net and goodwill |  |  |  |  |  |  |
September 30, 2023 | $ | 283.8 |  |  | $ | 143.9 |  |  | $ | — |  |  | $ | 427.7 |
September 30, 2022 | $ | 302.6 |  |  | $ | 157.2 |  |  | $ | — |  |  | $ | 459.8 |
Inventories, net: |  |  |  |  |  |  |
September 30, 2023 | $ | 173.8 |  |  | $ | 124.1 |  |  | $ | — |  |  | $ | 297.9 |
September 30, 2022 | $ | 160.5 |  |  | $ | 118.2 |  |  | $ | — |  |  | $ | 278.7 |

X
- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2 + Details
Name: | us-gaap_ScheduleOfRevenuesFromExternalCustomersAndLongLivedAssetsByGeographicalAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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 350 -SubTopic 20 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482573/350-20-50-1 Reference 2: 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 3: 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 4: 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
- Definition Tabular disclosure of the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-21 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-20 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-18 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-20 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 16 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-16 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-21 + Details
Name: | us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock
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