Segment Information (Tables)

12 Months Ended

Dec. 31, 2023

Financial Information by Reportable Business Segment

Financial information by reportable segment is as follows:


	2023		2022		2021		2023		2022		2021
In millions	Net sales						Segment income (loss)
Flow	$	1,582.1	$	1,500.8	$	1,421.4	$	282.3	$	242.3	$	213.3
Water Solutions	1,177.2		986.8		769.9		247.6		149.0		101.7
Pool	1,343.6		1,632.7		1,572.0		417.0		462.1		452.7
Other	1.6		1.5		1.5		(91.8)		(85.7)		(81.8)
Consolidated (1)	$	4,104.5	$	4,121.8	$	3,764.8	$	855.1	$	767.7	$	685.9

(1) One customer in the Pool business represented approximately 15% of our consolidated net sales in 2023 and 20% of our consolidated net sales in both 2022 and 2021.


	2023		2022		2021		2023		2022		2021		2023		2022		2021
In millions	Identifiable assets (1)						Capital expenditures						Depreciation
Flow	$	1,709.7	$	1,722.4	$	1,716.4	$	19.6	$	24.0	$	23.0	$	21.1	$	19.5	$	21.4
Water Solutions	2,695.2		2,786.4		1,181.6		23.0		24.7		16.4		18.1		18.4		15.8
Pool	1,679.8		1,710.3		1,641.4		17.3		28.8		16.1		11.4		8.9		7.9
Other	478.6		228.4		214.2		16.1		7.7		4.7		8.9		7.3		6.1
Consolidated	$	6,563.3	$	6,447.5	$	4,753.6	$	76.0	$	85.2	$	60.2	$	59.5	$	54.1	$	51.2

(1) All cash and cash equivalents are included in “Other.”

Reconciliation of Operating Profit (Loss) from Segments to Consolidated

The following table presents a reconciliation of consolidated segment income to consolidated income from continuing operations before income taxes:


In millions	2023		2022		2021
Segment income	$	855.1	$	767.7	$	685.9
Restructuring and other	(3.4)		(32.4)		(7.5)
Transformation costs	(44.3)		(27.2)		(11.7)
Inventory step-up	—		(5.8)		(2.3)
Pension and other post-retirement mark-to-market (loss) gain	(6.1)		17.5		2.4
Asset impairment and write-offs	(7.9)		(25.6)		—

Gain on sale of businesses	—		0.2		1.4

Russia business exit impact	—		(4.7)		—


Deal-related costs and expenses	—		(22.2)		(7.9)

Legal accrual adjustments and settlements	(2.2)		(0.2)		7.6
Intangible amortization	(55.3)		(52.5)		(26.3)
Interest expense, net	(118.3)		(61.8)		(12.5)
Other income (expense)	1.3		(2.4)		(2.3)
Income from continuing operations before income taxes	$	618.9	$	550.6	$	626.8