v3.25.2
Segment Information (Tables)
 6 Months Ended
Jun. 30, 2025
Segment Reporting [Abstract]  
Financial information for each reportable segment The following tables contain financial information provided to the CODM for each reportable segment:
(in millions)Water InfrastructureApplied WaterMeasurement and Control SolutionsWater Solutions and ServicesTotal
Balance for three months ended June 30, 2025
Revenue$650 $483 $540 $628 $2,301 
Less:
Adjusted cost of revenue (a)365 299 324 403 
Adjusted operating expenses (a)158 90 118 119 
Other segment items (b)24 10 30 28 
Segment operating income$103 $84 $68 $78 $333 
Reconciliation of segment operating income
Corporate and other (loss)(28)
Interest expense(9)
Other non-operating income, net3 
Income before income taxes$299 
(in millions)Water InfrastructureApplied WaterMeasurement and Control SolutionsWater Solutions and ServicesTotal
Balance for three months ended June 30, 2024
Revenue$631 $456 $482 $600 $2,169 
Less:
Adjusted cost of revenue (a)365 295 282 385 
Adjusted operating expenses (a)165 88 104 116 
Other segment items (b)23 2 17 52 
Segment operating income$78 $71 $79 $47 $275 
Reconciliation of segment operating income
Corporate and other (loss)(22)
Interest expense(11)
Other non-operating income, net4 
Gain/(loss) on sale of businesses1 
Income before income taxes$247 
(in millions)Water InfrastructureApplied WaterMeasurement and Control SolutionsWater Solutions and ServicesTotal
Balance for six months ended June 30, 2025
Revenue$1,231 $918 $1,030 $1,191 $4,370 
Less:
Adjusted cost of revenue (a)694 577 627 774 
Adjusted operating expenses (a)303 170 223 233 
Other segment items (b)51 15 56 62 
Segment operating income$183 $156 $124 $122 $585 
Reconciliation of segment operating income
Corporate and other (loss)(49)
Interest expense(17)
Other non-operating income, net7 
Gain/(loss) on sale of businesses(10)
Income before income taxes$516 
(in millions)Water InfrastructureApplied WaterMeasurement and Control SolutionsWater Solutions and ServicesTotal
Balance for six months ended June 30, 2024
Revenue$1,205 $892 $944 $1,161 $4,202 
Less:
Adjusted cost of revenue (a)692 583 557 752 
Adjusted operating expenses (a)324 173 205 227 
Other segment items (b)51 4 33 85 
Segment operating income$138 $132 $149 $97 $516 
Reconciliation of segment operating income
Corporate and other (loss)(54)
Interest expense(25)
Other non-operating income, net10 
Gain/(loss) on sale of businesses(4)
Income before income taxes$443 
(a) Adjusted costs of revenue and adjusted operating expenses represent segment-level information that are regularly provided to the CODM. These balances represent costs of revenue and operating expenses, respectively, adjusted to exclude purchase accounting intangible amortization, restructuring and realignment expenses, and special charges.
(b) Other segment items for each segment represents purchase accounting intangible amortization, restructuring and realignment expenses, and special charges, which are excluded from the above significant expense categories regularly provided to the CODM in line with our adjusted measures as outlined in Item 7 "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report.
The following table contains financial information for each reportable segment:
Three Months EndedSix Months Ended
June 30,June 30,
(in millions)2025202420252024
Depreciation and Amortization:
Water Infrastructure$24 $37 $47 $68 
Applied Water9 7 17 14 
Measurement and Control Solutions44 32 83 65 
Water Solutions and Services71 66 139 126 
Corporate and other(3)3 4 6 
Total$145 $145 $290 $279 
Capital Expenditures:
Water Infrastructure$11 $9 $22 $17 
Applied Water5 3 14 8 
Measurement and Control Solutions20 19 36 37 
Water Solutions and Services43 33 63 66 
Regional selling locations (a)10 5 17 11 
Corporate and other9 4 17 8 
Total$98 $73 $169 $147 
(a)Represents capital expenditures incurred by the Regional selling locations not allocated to the segments.