Supplemental Balance Sheet Information

3 Months Ended

Mar. 31, 2023

Balance Sheet Related Disclosures [Abstract]

Selected supplemental asset information is presented below.


	March 31,		September 30,
	2023		2022

	(in millions)
Inventories:
Purchased components and raw materials	$	197.1	$	181.8
Work in process, net	60.5		56.8
Finished goods, net	64.2		40.1
Total inventories	$	321.8	$	278.7

Other current assets:
Prepaid expenses	$	17.7	$	14.6
Non-trade receivables	1.7		1.6
Maintenance and repair supplies and tooling	3.8		2.8
Income taxes	0.8		0.8
Workers’ compensation reimbursement receivable	1.4		2.6
Other current assets	3.9		4.4
Total other current assets	$	29.3	$	26.8

Property, plant and equipment:
Land	$	6.6	$	5.7
Buildings	103.9		87.6
Machinery and equipment	501.3		456.0
Construction in progress	53.6		104.7
Total property, plant and equipment	665.4		654.0
Accumulated depreciation	(360.5)		(352.4)
Property, plant and equipment, net	$	304.9	$	301.6

Other noncurrent assets:
Operating lease right-of-use assets	$	24.3	$	26.0
Maintenance and repair supplies and tooling	21.0		20.4
Workers’ compensation reimbursement receivable	2.8		3.6
Pension asset	0.2		0.6
Note receivable	1.8		1.7
Deferred financing fees	0.8		1.0
Other noncurrent assets	3.9		3.4
Total other noncurrent assets	$	54.8	$	56.7

Selected supplemental liability information is presented below.


	March 31,		September 30,
	2023		2022

	(in millions)
Other current liabilities:
Compensation and benefits	$	29.3	$	40.2
Customer rebates	8.5		16.2
Income taxes payable	0.3		7.5
Warranty accrual	7.6		6.5
Deferred revenue	7.8		8.1
Refund liability	5.3		4.2
Taxes other than income taxes	4.3		4.4
Operating lease liabilities	4.8		4.4
Workers’ compensation accrual	2.9		4.6
CARES Act payroll tax liabilities	—		4.4
Restructuring liabilities	1.2		3.3
Environmental liabilities	0.7		0.7
Interest payable	5.3		5.3
Other current liabilities	8.7		7.6
Total other current liabilities	$	86.7	$	117.4

Other noncurrent liabilities:
Operating lease liabilities	$	20.6	$	22.4
Warranty accrual	3.4		4.2
Transition tax liability	3.1		4.1
Uncertain tax position liability	4.9		4.7
NMTC liability	3.9		3.9
Workers’ compensation accrual	6.3		6.5
Asset retirement obligation	3.6		3.6

Deferred development grant	2.5		2.5
Other noncurrent liabilities	3.2		3.5
Total other noncurrent liabilities	$	51.5	$	55.4

Goodwill

Goodwill is tested for impairment at the reporting unit level (operating segment or one level below an operating segment) on an annual basis each September 1st and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value.

The following table summarizes information concerning our goodwill, all of which is within our Water Management Solutions segment, during the six months ended March 31, 2023, in millions.


Balance at September 30, 2022:
Goodwill	$	822.7
Accumulated impairment	(724.1)
Goodwill, net	98.6
Activity during the six months ended March 31, 2023:
Change in foreign currency exchange rates	0.4
Balance at March 31, 2023	$	99.0