Restructuring and Transformation Program (Tables)

12 Months Ended

Dec. 31, 2024

Restructuring and Related Activities [Abstract]

Restructuring Related Costs

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

	Years ended December 31
In millions	2024		2023		2022
Restructuring Initiatives
Severance and related costs	$	34.5	$	8.2	$	17.7
Asset impairment and write-offs (1)	9.9		3.8		25.6
Other restructuring costs and related adjustments (2)	(0.9)		(6.0)		13.0
Total restructuring costs	43.5		6.0		56.3
Transformation Program
Severance and related costs	0.7		6.9		3.4
Asset impairment and write-offs (1)	7.7		0.4		—
Other transformation costs (3)	51.4		37.4		23.8
Total transformation costs	59.8		44.7		27.2
Total restructuring and transformation costs	$	103.3	$	50.7	$	83.5

(1) Consists of inventory and long-lived asset impairments and write-offs associated with restructuring or transformation activities. An identifiable intangible asset was also impaired in 2022 as a result of certain business exits.

(2) Other restructuring costs and related adjustments primarily consist of certain accruals and related refinements as well as various contract termination costs associated with business and product line exits.

(3) Other transformation costs primarily consist of professional services and project management related costs, partially offset by gain on sale of assets in 2023.

Restructuring Costs By Segment

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

	Years ended December 31
In millions	2024		2023		2022
Flow	$	15.5	$	3.4	$	2.2
Water Solutions	19.4		(0.1)		41.1
Pool	15.7		9.1		14.3
Corporate and other	52.7		38.3		25.9
Total restructuring and transformation costs	$	103.3	$	50.7	$	83.5

Restructuring Accrual Activity Recorded on Consolidated Balance Sheets

Activity related to accrued severance and related costs recorded in Other current liabilities in the Consolidated Balance Sheets is summarized as follows:

	Years ended December 31
In millions	2024		2023
Beginning balance	$	13.4	$	23.2
Costs incurred	35.2		15.1
Cash payments and other	(29.9)		(24.9)
Ending balance	$	18.7	$	13.4