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Segment Information (Tables)

6 Months Ended

Jun. 30, 2025

Financial Information by Reportable Business Segment

Financial information by reportable segment as well as a reconciliation of reportable segment income to consolidated income from continuing operations before income taxes is as follows:


	June 30, 2025		December 31, 2024
In millions	Identifiable assets (1)
Flow	$	1,703.0	$	1,590.7
Water Solutions	2,589.5		2,613.5
Pool	1,742.9		1,801.3
Reportable segment total	6,035.4		6,005.5
Corporate and other	444.1		441.0
Consolidated	$	6,479.5	$	6,446.5

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


	Three months ended				Six months ended				Three months ended				Six months ended
	June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024		June 30, 2025		June 30, 2024
In millions	Capital expenditures								Depreciation
Flow	$	3.1	$	4.2	$	6.9	$	7.2	$	5.2	$	5.5	$	10.4	$	10.8
Water Solutions	2.9		4.8		5.7		14.9		4.0		4.4		8.0		8.8
Pool	3.8		4.9		10.2		8.2		3.6		3.3		6.7		6.3
Reportable segment total	9.8		13.9		22.8		30.3		12.8		13.2		25.1		25.9
Corporate and other	1.1		3.1		4.9		6.0		1.8		2.3		4.3		4.5
Consolidated	$	10.9	$	17.0	$	27.7	$	36.3	$	14.6	$	15.5	$	29.4	$	30.4

Reconciliation of Operating Profit (Loss) from Segments to Consolidated


Three months ended June 30, 2025

In millions	Flow		Water Solutions		Pool		Total
Net sales	$	397.3	$	298.3	$	427.2	$	1,122.8
Reconciliation of consolidated net sales
Corporate and other							0.3
Total consolidated net sales							$	1,123.1

Cost of goods sold (1)(3)	(246.3)		(183.8)		(229.0)
Operating expenses (1)(2)(3)	(57.9)		(44.3)		(45.5)
Reportable segment income	$	93.1	$	70.2	$	152.7	$	316.0
Corporate and other							(19.3)
Restructuring and other							(10.4)
Transformation costs							(12.5)


Asset impairment and write-offs							(41.8)
Loss on sale of business							(26.3)






Intangible amortization							(14.3)
Interest expense, net							(17.9)
Other expense							(1.0)
Income from continuing operations before income taxes							$	172.5


Three months ended June 30, 2024

In millions	Flow		Water Solutions		Pool		Total
Net sales	$	396.8	$	310.5	$	391.5	$	1,098.8
Reconciliation of consolidated net sales
Corporate and other							0.5
Total consolidated net sales							$	1,099.3

Cost of goods sold (1)(3)	(250.1)		(193.8)		(216.5)
Operating expenses (1)(2)(3)	(62.3)		(43.8)		(41.4)
Reportable segment income	$	84.4	$	72.9	$	133.6	$	290.9
Corporate and other							(19.5)
Restructuring and other							(5.9)
Transformation costs							(11.8)



Legal accrual adjustments and settlements							7.9
Intangible amortization							(13.4)
Interest expense, net							(26.3)
Other expense							(1.0)
Income from continuing operations before income taxes							$	220.9


Six months ended June 30, 2025

In millions	Flow		Water Solutions		Pool		Total
Net sales	$	765.2	$	556.5	$	811.1	$	2,132.8
Reconciliation of consolidated net sales
Corporate and other							0.7
Total consolidated net sales							$	2,133.5

Cost of goods sold (1)(3)	(475.1)		(341.6)		(442.8)
Operating expenses (1)(2)(3)	(113.4)		(84.0)		(89.6)
Reportable segment income	$	176.7	$	130.9	$	278.7	$	586.3
Corporate and other							(47.1)
Restructuring and other							(20.9)
Transformation costs							(21.6)


Asset impairment and write-offs							(47.0)
Loss on sale of business							(26.3)






Intangible amortization							(28.5)
Interest expense, net							(37.6)
Other expense							(1.9)
Income from continuing operations before income taxes							$	355.4


Six months ended June 30, 2024

In millions	Flow		Water Solutions		Pool		Total
Net sales	$	781.1	$	583.6	$	751.0	$	2,115.7
Reconciliation of consolidated net sales
Corporate and other							0.8
Total consolidated net sales							$	2,116.5

Cost of goods sold (1)(3)	(497.1)		(366.3)		(423.0)
Operating expenses (1)(2)(3)	(122.3)		(88.8)		(83.6)
Reportable segment income	$	161.7	$	128.5	$	244.4	$	534.6
Corporate and other							(45.9)
Restructuring and other							(10.5)
Transformation costs							(28.8)


Asset impairment and write-offs							(0.8)
Legal accrual adjustments and settlements							8.2
Intangible amortization							(26.9)
Interest expense, net							(53.6)
Other expense							(2.0)
Income from continuing operations before income taxes							$	374.3

(1) The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker which includes certain corporate overhead allocations directly attributable to each of the segments.

(2) Operating expenses include selling, general, administrative, research and development costs which primarily consist of non-manufacturing employee compensation, non-manufacturing overhead and professional service costs as well as depreciation expense.

(3) These costs exclude certain expenses reported in the Condensed Consolidated Statements of Operations and Comprehensive Income, including costs that are reflected in "Corporate and other,” and expenses excluded from reportable segment income as defined above.