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Segment Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Information Segment Information
We classify our operations into three reportable segments:
•Flow — The focus of this segment is to deliver water where it is needed, when it is needed, more efficiently and to transform waste into value. This segment designs, manufactures and sells a variety of fluid treatment and pump products and systems, including pressure vessels, gas recovery solutions, membrane bioreactors, wastewater reuse systems and advanced membrane filtration, separation systems, specialty insertion valves, line stop fittings and installation equipment, turbine pumps and solid handling pumps, while serving the global commercial and industrial markets. These products and systems are used in a range of applications, including fluid delivery, ion exchange, desalination, food and beverage, separation technologies for the oil and gas industry, residential and municipal wells, water treatment, wastewater solids handling, pressure boosting, fire suppression and flood control.
•Water Solutions — The focus of this segment is to provide great tasting, higher-quality water and ice while helping people use water more productively. This segment designs, manufactures and sells commercial and residential water treatment products and systems including pressure tanks, control valves, activated carbon products, commercial ice machines, conventional filtration products, point-of-entry and point-of-use water treatment systems, fluid transfer pumps, agricultural spray nozzles, as well as certain water disposal and water supply pumps. These water treatment products and systems are for use in residential whole home water filtration, drinking water filtration and water softening solutions in addition to commercial total water management and filtration in foodservice operations, circulation and transfer, agricultural irrigation and crop spray.
•Pool — The focus of this segment is to provide innovative, energy-efficient pool solutions to help people more sustainably enjoy water. This segment designs, manufactures and sells a complete line of energy-efficient residential and commercial pool equipment and accessories including pumps, filters, heaters, lights, automatic controls, chlorinators, automatic cleaners, maintenance equipment and pool accessories. Applications for our pool products include residential and commercial pool maintenance, pool repair, renovation, service, construction and aquaculture solutions.
We evaluate performance based on net sales and reportable segment income and use certain ratios, particularly return on sales, to measure performance of our reportable segments. These results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented. Reportable segment income represents operating income of each reportable segment inclusive of equity income of unconsolidated subsidiaries and exclusive of intangible amortization, certain acquisition related expenses, costs of restructuring and transformation activities, impairments, legal accrual adjustments and settlements and other unusual non-operating items. “Corporate and other” activity primarily consists of corporate expenses not allocated to the segments, including executive office, board of directors, and centrally-managed corporate functional or shared service costs related to finance, human resources, communications and corporate development. These activities do not meet the criteria for a stand-alone reportable segment under accounting standards codification (“ASC”) 280. The accounting policies of our reportable segments are consistent with those described in the summary of significant accounting policies in our Annual Report on Form 10-K for the year ended December 31, 2025.
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:
March 31,
2026		December 31,
2025
In millions
Identifiable assets (1)
Flow
$1,315.0 $1,640.2 
Water Solutions
3,292.8 2,900.9 
Pool
2,115.4 1,884.3 
Reportable segment total
6,723.2 6,425.4 
Corporate and other
348.8 443.4 
Consolidated$7,072.0 $6,868.8 
(1) All cash and cash equivalents are included in “Corporate and other.”
Three months ended
March 31,
2026		March 31,
2025
In millionsCapital expenditures
Flow$2.8 $2.9 
Water Solutions4.8 3.7 
Pool7.4 6.4 
Reportable segment total
15.0 13.0 
Corporate and other
3.5 3.8 
Consolidated
$18.5 $16.8 
Three months ended
March 31,
2026		March 31,
2025
In millionsDepreciation
Flow$3.6 $3.7 
Water Solutions5.4 5.5 
Pool3.7 3.1 
Reportable segment total
12.7 12.3 
Corporate and other
1.9 2.5 
Consolidated
$14.6 $14.8 
Three months ended March 31, 2026
In millions
Flow
Water Solutions
Pool
Total
Net sales
$258.1 $391.0 $387.1 $1,036.2 
Reconciliation of consolidated net sales
Corporate and other
0.5 
Total consolidated net sales
$1,036.7 
Cost of goods sold (1)(3)
(157.9)(233.4)(211.2)
Operating expenses (1)(2)(3)
(39.0)(57.7)(47.8)
Reportable segment income
$61.2 $99.9 $128.1 $289.2 
Corporate and other
(30.1)
Restructuring and other(21.4)
Transformation costs(11.5)
Intangible amortization
(15.7)
Interest expense, net
(20.1)
Other expense(1.0)
Income from continuing operations before income taxes$189.4 
Three months ended March 31, 2025
In millions
Flow
Water Solutions
Pool
Total
Net sales
$232.6 $393.5 $383.9 $1,010.0 
Reconciliation of consolidated net sales
Corporate and other
0.4 
Total consolidated net sales
$1,010.4 
Cost of goods sold (1)(3)
(147.2)(239.4)(213.8)
Operating expenses (1)(2)(3)
(35.2)(60.0)(44.1)
Reportable segment income
$50.2 $94.1 $126.0 $270.3 
Corporate and other
(27.8)
Restructuring and other(10.5)
Transformation costs(9.1)
Asset impairment and write-offs(5.2)
Intangible amortization
(14.2)
Interest expense, net
(19.7)
Other expense
(0.9)
Income from continuing operations before income taxes$182.9 
(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.