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Segment Information

6 Months Ended

Mar. 31, 2025

Segment Reporting, Measurement Disclosures [Abstract]

Segment Reporting Disclosure [Text Block]

Segment Information

We have two reportable segments, Water Flow Solutions and Water Management Solutions. Water Flow Solutions’ portfolio includes iron gate valves, specialty valves and service brass products. Water Management Solutions’ portfolio includes fire hydrants, repair and installation, natural gas, metering, leak detection, as well as pressure management and control products and solutions. Summarized financial information for our segments is presented below:

			Three months ended												Six months ended
			March 31,												March 31,
			2025						2024						2025						2024
			(in millions)
Net revenue, excluding intercompany:
Water Flow Solutions			$	216.2					$	205.8					$	390.8					$	347.1
Water Management Solutions			148.1						147.6						277.8						262.7
			$	364.3					$	353.4					$	668.6					$	609.8
Operating income (loss):
Water Flow Solutions			$	54.1					$	52.6					$	89.4					$	79.8
Water Management Solutions			31.3						29.0						58.6						44.1
Corporate			(15.5)						(18.1)						(30.7)						(37.6)
			$	69.9					$	63.5					$	117.3					$	86.3
Depreciation and amortization:
Water Flow Solutions			$	6.3					$	9.8					$	12.4					$	19.1
Water Management Solutions			5.0						6.7						10.0						13.7
Corporate			—						—						—						0.1
			$	11.3					$	16.5					$	22.4					$	32.9
Strategic reorganization and other charges:
Water Flow Solutions			$	1.0					$	—					$	1.0					$	0.2
Water Management Solutions			0.1						—						0.4						—
Corporate			1.3						3.2						2.7						9.6
			$	2.4					$	3.2					$	4.1					$	9.8
Capital expenditures:
Water Flow Solutions			$	4.8					$	6.0					$	10.5					$	9.9
Water Management Solutions			4.4						4.1						10.6						5.9
Corporate			—						—						—						—
			$	9.2					$	10.1					$	21.1					$	15.8
Water Flow Solutions disaggregated revenue:
Central			$	58.1					$	55.0					$	106.6					$	93.5
Northeast			40.7						37.4						74.0						65.7
Southeast			50.4						53.2						89.0						90.3
West			50.9						48.3						94.8						78.9
United States			200.1						193.9						364.4						328.4
Canada			12.6						9.3						20.6						14.1
Other international locations			3.5						2.6						5.8						4.6
			$	216.2					$	205.8					$	390.8					$	347.1
Water Management Solutions disaggregated revenue:
Central			$	40.1					$	41.4					$	75.2					$	70.6
Northeast			28.1						32.7						57.3						59.5
Southeast			33.9						37.1						60.5						65.5
West			29.3						23.8						57.8						43.8
United States			131.4						135.0						250.8						239.4
Canada			9.2						7.4						13.6						13.1
Other international locations			7.5						5.2						13.4						10.2
			$	148.1					$	147.6					$	277.8					$	262.7

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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.

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