Restructuring and Transformation Program (Tables)

9 Months Ended

Sep. 30, 2024

Restructuring and Related Activities [Abstract]

Restructuring And Transformation Related Costs

Restructuring and transformation-related costs included within Cost of goods sold and Selling, general and administrative expenses in the Condensed Consolidated Statements of Operations and Comprehensive Income included the following: 

	Three months ended				Nine months ended
In millions	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Restructuring Initiatives
Severance and related costs	$	17.4	$	1.1	$	26.8	$	4.5
Other restructuring costs and related adjustments (1)	10.9		1.6		11.8		2.1
Total restructuring costs	28.3		2.7		38.6		6.6
Transformation Program
Severance and related costs	—		2.9		0.7		5.1
Other transformation costs (2)	15.4		11.0		43.5		23.3
Total transformation costs	15.4		13.9		44.2		28.4
Total restructuring and transformation costs	$	43.7	$	16.6	$	82.8	$	35.0
(1) Other restructuring costs and related adjustments primarily consist of certain accruals and related refinements as well as various contract termination costs, asset impairments and inventory write-offs associated with business and product line exits.
(2) Other transformation costs primarily consist of professional services, project management related costs, asset impairments and inventory write-offs, partially offset by gain on sale of assets.

Restructuring And Transformation Costs By Segment

Restructuring and transformation costs by reportable segment as well as Corporate and other were as follows:

	Three months ended				Nine months ended
In millions	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Flow	$	6.0	$	1.6	$	11.0	$	2.8
Water Solutions	16.2		2.7		17.7		1.6
Pool	4.7		1.7		10.1		6.9
Corporate and other	16.8		10.6		44.0		23.7
Total restructuring and transformation costs	$	43.7	$	16.6	$	82.8	$	35.0

Restructuring Accrual Activity Recorded on Consolidated Balance Sheets

Activity related to accrued severance and related costs recorded in Other current liabilities in the Condensed Consolidated Balance Sheets is summarized as follows for the nine months ended September 30, 2024: 

In millions	September 30, 2024
Beginning balance	$	13.4
Costs incurred	27.5
Cash payments and other	(19.8)
Ending balance	$	21.1