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Business Segments
12 Months Ended
Sep. 30, 2021
Segment Reporting [Abstract]  
Business segments Business Segments
The Company’s reportable operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated on a regular basis by the chief operating decision maker, or decision making group, in deciding how to allocate resources to an individual segment and in assessing performance. The key factors used to identify these reportable operating segments are the organization and alignment of the Company’s internal operations, the nature of the products and services, and customer type.
The Company has two reportable operating segments, Integrated Solutions and Services and Applied Product Technologies. The business segments are described as follows:
Integrated Solutions and Services is a group entirely focused on engaging directly with end users through direct sales with a market vertical focus. Integrated Solutions and Services provides tailored services and solutions in collaboration with the customers backed by life‑cycle services including on‑demand water, outsourced water, recycle / reuse, and emergency response service alternatives to improve operational reliability, performance, and environmental compliance. Key offerings within this segment also include equipment systems for industrial needs (influent water, boiler feed water, ultrahigh purity, process water, wastewater treatment and recycle / reuse), full-scale outsourcing of operations and maintenance, and municipal services, including odor and corrosion control services.
Applied Product Technologies is focused on developing product platforms to be sold primarily through third party channels. This segment primarily engages in indirect sales through independent sales representatives, distributors, and aftermarket channels. Applied Product Technologies provides a range of highly differentiated and scalable products and technologies specified by global water treatment designers, OEMs, engineering firms, and integrators. Key offerings within this segment include filtration and separation, disinfection, wastewater solutions, anode and electrochlorination technology, and aquatics technologies and solutions for the global recreational and commercial pool market.
The Company evaluates its business segments’ operating results based on earnings before interest, taxes, depreciation and amortization, and certain other charges that are specific to the activities of the respective segments. Corporate activities include general corporate expenses, elimination of intersegment transactions, interest income and expense and certain other charges. Certain other charges include restructuring and other business transformation charges that have
been undertaken to align and reposition the Company to the current reporting structure, acquisition related costs (including transaction costs and certain integration costs) and share-based compensation charges. 
Since certain administrative costs and other operating expenses have not been allocated to business segments, the results in the below table are not necessarily a measure computed in accordance with generally accepted accounting principles and may not be comparable to other companies.
The tables below provide segment information for the periods presented and a reconciliation to total consolidated information:
Year Ended September 30,
202120202019
Total sales
Integrated Solutions and Services$980,852 $954,542 $919,985 
Applied Product Technologies588,080 559,635 631,332 
Total sales
$1,568,932 $1,514,177 $1,551,317 
Intersegment sales
Integrated Solutions and Services$20,966 $10,360 $9,151 
Applied Product Technologies83,537 74,361 97,725 
Total intersegment sales
$104,503 $84,721 $106,876 
Sales to external customers
Integrated Solutions and Services$959,886 $944,182 $910,834 
Applied Product Technologies504,543 485,274 533,607 
Total sales
$1,464,429 $1,429,456 $1,444,441 
Income from operations
Integrated Solutions and Services$147,251 $145,655 $148,593 
Applied Product Technologies82,891 134,258 69,377 
Corporate(130,825)(111,465)(158,298)
Total income from operations$99,317 $168,448 $59,672 
Interest expense
(37,575)(46,682)(58,556)
Income before income taxes$61,742 $121,766 $1,116 
Income tax expense(10,080)(7,371)(9,587)
Net income (loss)$51,662 $114,395 $(8,471)
Depreciation and amortization
Integrated Solutions and Services$70,585 $67,489 $57,217 
Applied Product Technologies14,423 14,226 17,675 
Corporate
28,656 25,553 23,344 
Total depreciation and amortization$113,664 $107,268 $98,236 
Capital expenditures
Integrated Solutions and Services$60,407 $75,551 $73,656 
Applied Product Technologies6,955 6,237 7,589 
Corporate
7,931 6,668 7,624 
Total Capital expenditures
$75,293 $88,456 $88,869 
September 30, 2021September 30, 2020
Assets
Integrated Solutions and Services$887,265 $835,307 
Applied Product Technologies656,362 598,701
Corporate
325,264 410,450
Total assets
$1,868,891 $1,844,458 
Goodwill
Integrated Solutions and Services$233,830 $224,381 
Applied Product Technologies173,546 172,824
Total goodwill
$407,376 $397,205