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v3.25.3

Segment Information (Tables) | 12 Months Ended
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Sep. 30, 2025
Segment Reporting [Abstract] |
Schedule of Segment Reporting Information | Financial information by reportable segment is included in the following summary:
2025 | Water Flow Solutions |  | Water Management Solutions |  | Total
| (in millions)
Net sales | $ | 824.9 |  |  | $ | 604.8 |  |  | $ | 1,429.7 |
Cost of sales | 528.6 |  |  | 384.4 |  |  | 913.0 |
Gross profit | 296.3 |  |  | 220.4 |  |  | 516.7 |
Selling, general and administrative expenses | 90.3 |  |  | 96.9 |  |  |
Strategic reorganization and other charges | 1.0 |  |  | 0.7 |  |  |
Segment operating income | $ | 205.0 |  |  | $ | 122.8 |  |  | 327.8 |
Reconciliation of segment operating income to consolidated income before income taxes |  |  |  |  |
Corporate general and administrative expenses |  |  |  |  | 60.1 |
Corporate strategic reorganization and other charges |  |  |  |  | 7.1 |
Pension benefit other than service |  |  |  |  | (0.2) |
Interest expense, net |  |  |  |  | 6.6 |
Income before income taxes |  |  |  |  | $ | 254.2 |
2024 | Water Flow Solutions |  | Water Management Solutions |  | Total
| (in millions)
Net sales | $ | 755.5 |  |  | $ | 559.2 |  |  | $ | 1,314.7 |
Cost of sales | 483.6 |  |  | 372.1 |  |  | 855.7 |
Gross profit | 271.9 |  |  | 187.1 |  |  | 459.0 |
Selling, general and administrative expenses | 92.5 |  |  | 95.0 |  |  |
Strategic reorganization and other charges | 0.2 |  |  | 1.8 |  |  |
Goodwill impairment | — |  |  | 16.3 |  |  |
Segment operating income | $ | 179.2 |  |  | $ | 74.0 |  |  | 253.2 |
Reconciliation of segment operating income to consolidated income before income taxes |  |  |  |  |
Corporate general and administrative expenses |  |  |  |  | 57.7 |
Corporate strategic reorganization and other charges |  |  |  |  | 13.8 |
Pension expense other than service |  |  |  |  | 4.0 |
Interest expense, net |  |  |  |  | 12.7 |
Other expense |  |  |  |  | 1.6 |
Income before income taxes |  |  |  |  | $ | 163.4 |
2023 | Water Flow Solutions |  | Water Management Solutions |  | Total
| (in millions)
Net sales | $ | 634.4 |  |  | $ | 641.3 |  |  | $ | 1,275.7 |
Cost of sales | 469.5 |  |  | 426.7 |  |  | 896.2 |
Gross profit | 164.9 |  |  | 214.6 |  |  | 379.5 |
Selling, general and administrative expenses | 85.3 |  |  | 106.9 |  |  |
Strategic reorganization and other charges | — |  |  | 1.7 |  |  |
Segment operating income | $ | 79.6 |  |  | $ | 106.0 |  |  | 185.6 |
Reconciliation of segment operating income to consolidated income before income taxes |  |  |  |  |
Corporate general and administrative expenses |  |  |  |  | 49.7 |
Corporate strategic reorganization and other charges |  |  |  |  | 8.5 |
Pension expense other than service |  |  |  |  | 3.7 |
Interest expense, net |  |  |  |  | 14.7 |
Income before income taxes |  |  |  |  | $ | 109.0 |
Business segment assets primarily consist of inventories and intangible assets. Other relevant segment information is presented below:
| Water Flow Solutions |  | Water Management Solutions |  | Corporate |  | Total
| (in millions)
Depreciation and amortization: |  |  |  |  |  |  |
2025 | $ | 26.6 |  |  | $ | 20.2 |  |  | $ | 0.1 |  |  | $ | 46.9 |
2024 | 38.3 |  |  | 27.7 |  |  | 0.2 |  |  | 66.2 |
2023 | $ | 32.8 |  |  | $ | 29.5 |  |  | $ | 0.2 |  |  | $ | 62.5 |
Capital expenditures: |  |  |  |  |  |  |
2025 | $ | 24.1 |  |  | $ | 23.2 |  |  | $ | — |  |  | $ | 47.3 |
2024 | 31.1 |  |  | 16.3 |  |  | — |  |  | 47.4 |
2023 | $ | 33.4 |  |  | $ | 14.2 |  |  | $ | — |  |  | $ | 47.6 |
Intangible assets, net and goodwill |  |  |  |  |  |  |
September 30, 2025 | $ | 264.5 |  |  | $ | 132.0 |  |  | $ | — |  |  | $ | 396.5 |
September 30, 2024 | $ | 264.9 |  |  | $ | 125.5 |  |  | $ | — |  |  | $ | 390.4 |
Inventories, net: |  |  |  |  |  |  |
September 30, 2025 | $ | 197.2 |  |  | $ | 131.5 |  |  | $ | — |  |  | $ | 328.7 |
September 30, 2024 | $ | 187.3 |  |  | $ | 114.4 |  |  | $ | — |  |  | $ | 301.7 |
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, 2025 | $ | 318.9 |  |  | $ | 12.8 |  |  | $ | 4.0 |  |  | $ | 335.7 |
September 30, 2024 | $ | 302.8 |  |  | $ | 11.9 |  |  | $ | 4.1 |  |  | $ | 318.8 |
| Year ended September 30,
| 2025 |  | 2024 |  | 2023
| (in millions)
Water Flow Solutions disaggregated net revenue: |  |  |  |  |
Central | $ | 227.7 |  |  | $ | 196.8 |  |  | $ | 176.0 |
Northeast | 148.9 |  |  | 139.2 |  |  | 130.6 |
Southeast | 189.2 |  |  | 181.6 |  |  | 118.4 |
West | 203.5 |  |  | 185.5 |  |  | 160.9 |
United States | 769.3 |  |  | 703.1 |  |  | 585.9 |
Canada | 44.0 |  |  | 42.2 |  |  | 36.2 |
Other international locations | 11.6 |  |  | 10.2 |  |  | 12.3 |
| $ | 824.9 |  |  | $ | 755.5 |  |  | $ | 634.4 |
Water Management Solutions disaggregated net revenue: |  |  |  |  |
Central | $ | 161.4 |  |  | $ | 149.4 |  |  | $ | 169.2 |
Northeast | 122.7 |  |  | 120.3 |  |  | 151.2 |
Southeast | 136.0 |  |  | 132.4 |  |  | 137.4 |
West | 124.4 |  |  | 103.6 |  |  | 119.0 |
United States | 544.5 |  |  | 505.7 |  |  | 576.8 |
Canada | 33.6 |  |  | 33.3 |  |  | 38.3 |
Other international locations | 26.7 |  |  | 20.2 |  |  | 26.2 |
| $ | 604.8 |  |  | $ | 559.2 |  |  | $ | 641.3 |

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- 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 -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 Reference 2: 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 + Details
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- 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
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