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SEGMENT AND GEOGRAPHIC INFORMATION (Tables)
 9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Financial Information by Reportable Business Segment
The following tables summarize reportable business segment information with a reconciliation to our condensed consolidated results for the periods presented:
Third Quarter Ended September 30, 2025Water SystemsDistributionEnergy SystemsTotal
(In millions)
External sales$304.4 $197.3 $80.0 $581.7 
Intersegment sales32.2 — — 32.2 
$336.6 $197.3 $80.0 $613.9 
Elimination of intersegment sales$(32.2)
Total consolidated sales$581.7 
Cost of sales$220.1 $142.6 $43.5 
Selling, general and administrative expenses56.2 38.4 11.1 
Restructuring expense0.1 — — 
Segment operating income$60.2 $16.3 $25.4 $101.9 
Reconciliation of segment operating income to income before income taxes
Deferred intersegment profit$1.1 
Corporate general and administrative expenses(17.8)
Interest expense(3.5)
Other income (expense), net(0.2)
Foreign exchange expense, net(2.7)
Pension settlement loss(55.3)
Consolidated income before income taxes$23.5 
Third Quarter Ended September 30, 2024Water SystemsDistributionEnergy SystemsTotal
(In millions)
External sales$270.9 $190.8 $69.7 $531.4 
Intersegment sales31.3 — — 31.3 
$302.2 $190.8 $69.7 $562.7 
Elimination of intersegment sales$(31.3)
Total consolidated sales$531.4 
Cost of sales$200.1 $139.9 $35.1 
Selling, general and administrative expenses49.2 38.7 10.5 
Restructuring expense0.1 — — 
Segment operating income$52.8 $12.2 $24.1 $89.1 
Reconciliation of segment operating income to income before income taxes
Deferred intersegment profit$2.1 
Corporate general and administrative expenses(17.6)
Interest expense(1.6)
Other income (expense), net(0.2)
Foreign exchange income, net0.1 
Pension settlement loss— 
Consolidated income before income taxes$71.9 
Nine Months Ended September 30, 2025Water SystemsDistributionEnergy SystemsTotal
(In millions)
External sales$861.0 $539.1 $224.3 $1,624.4 
Intersegment sales103.7 — — 103.7 
$964.7 $539.1 $224.3 $1,728.1 
Elimination of intersegment sales$(103.7)
Total consolidated sales$1,624.4 
Cost of sales$634.2 $391.4 $116.1 
Selling, general and administrative expenses164.8 112.9 31.8 
Restructuring expense0.2 0.2 — 
Segment operating income$165.5 $34.6 $76.4 $276.5 
Reconciliation of segment operating income to income before income taxes
Deferred intersegment loss(2.0)
Corporate general and administrative expenses(57.1)
Interest expense(8.1)
Other income (expense), net0.5 
Foreign exchange expense, net(8.5)
Pension settlement loss(55.3)
Consolidated income before income taxes$146.0 
Nine Months Ended September 30, 2024Water SystemsDistributionEnergy SystemsTotal
(In millions)
External sales$802.4 $528.3 $204.9 $1,535.6 
Intersegment sales102.0 — — 102.0 
$904.4 $528.3 $204.9 $1,637.6 
Elimination of intersegment sales$(102.0)
Total consolidated sales$1,535.6 
Cost of sales$591.7 $387.2 $104.0 
Selling, general and administrative expenses150.3 117.1 32.0 
Restructuring expense0.1 0.1 — 
Segment operating income$162.3 $23.9 $68.9 $255.1 
Reconciliation of segment operating income to income before income taxes
Deferred intersegment loss(1.7)
Corporate general and administrative expenses(52.8)
Interest expense(5.0)
Other income (expense), net0.7 
Foreign exchange expense, net(5.2)
Pension settlement loss— 
Consolidated income before income taxes$191.1 
Third Quarter EndedNine Months Ended
(In millions)September 30, 2025September 30, 2024September 30, 2025September 30, 2024
Depreciation and amortization
Water Systems$11.9 $9.9 $33.7 $29.2 
Distribution2.3 2.3 7.0 7.1 
Energy Systems1.1 1.1 3.2 3.1 
Total segment depreciation and amortization$15.3 $13.3 $43.9 $39.4 
Corporate0.8 0.8 2.4 2.4 
Total depreciation and amortization$16.1 $14.1 $46.3 $41.8 
Capital Expenditures
Water Systems$12.4 $7.0 $22.3 $17.5 
Distribution1.5 1.8 4.6 7.9 
Energy Systems0.5 0.2 1.6 1.2 
Total segment capital expenditure$14.4 $9.0 $28.5 $26.6 
Corporate0.4 0.5 1.3 2.3 
Total capital expenditures$14.8 $9.5 $29.8 $28.9 
Assets
Water Systems$1,244.3 $1,052.1 
Distribution385.1 398.0 
Energy Systems273.1 255.6 
Total segment assets$1,902.5 $1,705.7 
Corporate94.9 101.5 
Total assets$1,997.4 $1,807.2 

Cash and property, plant and equipment are the major asset groups in “Corporate” of total assets for the quarters ended September 30, 2025 and September 30, 2024.
The following table disaggregates the Company's net sales from contracts with customers by segment:
Third Quarter EndedNine Months Ended
(In millions)September 30, 2025September 30, 2024September 30, 2025September 30, 2024
Net sales
Water Systems
External sales
United States & Canada$168.4 $152.3 $476.4 $448.0 
Latin America55.4 43.5 147.7 126.6 
Europe, Middle East & Africa57.5 53.4 164.7 161.7 
Asia Pacific23.1 21.7 72.2 66.1 
Intersegment sales
United States & Canada32.2 31.3 103.7 102.0 
Total sales336.6 302.2 964.7 904.4 
Distribution
External sales
United States & Canada197.3 190.8 539.1 528.3 
Intersegment sales— — — — 
Total sales197.3 190.8 539.1 528.3 
Energy Systems
External sales
United States & Canada61.4 55.1 173.7 160.2 
All other18.6 14.6 50.6 44.7 
Intersegment sales— — — — 
Total sales80.0 69.7 224.3 204.9 
Intersegment Eliminations/Other(32.2)(31.3)(103.7)(102.0)
Consolidated$581.7 $531.4 $1,624.4 $1,535.6