v3.26.1
Business Segment Information
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Business Segment Information Business Segment Information
The Company is a pure-play water management business that designs, procures, manufactures and markets what the Company believes to be the broadest sustainable product portfolio of specification-driven water management solutions to improve health, hydration, human safety and the environment. The Company’s product portfolio includes professional grade water safety and control products, flow systems products, hygienic and environmental products and filtered drinking water products. Revenue is primarily generated in the United States and the Company manages and evaluates its operations on a consolidated basis as one reportable operating segment due to similarities of its products, processes, customer base and methods of distribution. See Note 2, Significant Accounting Policies, to the audited consolidated financial statements included in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, for further information regarding the Company's accounting policies.
The Company’s Chief Operating Decision Maker (“CODM”) is the Chief Executive Officer. The CODM assesses the Company’s performance and makes capital allocation decisions based on net income from continuing operations as reported in the consolidated statement of operations. This metric is used to monitor forecasted to actual and budgeted results and benchmarking to our peers. The following table includes segment revenue, significant expense items and segment profit as viewed by the CODM for the three and six months ended June 30, 2026 and June 30, 2025 (in millions):
Three Months EndedSix Months Ended
June 30, 2026June 30, 2025June 30, 2026June 30, 2025
Net sales$491.0 $444.5 $924.0 $833.3 
Less:
Cost of sales (1)202.7 242.2 429.9 450.0 
Selling, general and administrative expenses119.5 108.2 227.7 209.4 
Other segment items (2)56.3 44.0 95.0 82.8 
Segment profit (Net income from continuing operations)$112.5 $50.1 $171.4 $91.1 
(1)For the three and six months ended June 30, 2026, cost of sales includes the receipt of a $47.6 million IEEPA reciprocal tariff refund. See Note 14, Commitments and Contingencies for further information.
(2)Other segment items include restructuring and other similar charges, amortization of intangible assets, interest expense, net, other income (expense), net, and provision for income taxes.
Segment net sales, amortization of intangible assets, interest expense, net, and provision for income taxes are included on the condensed consolidated statement of operations. Segment assets are included on the condensed consolidated balance sheet and segment depreciation, stock-based compensation expense, non-cash restructuring charges, and expenditures for property, plant and equipment are included on the condensed consolidated statement of cash flows. Interest income for the three months ended June 30, 2026 and June 30, 2025 was $2.1 million and $1.4 million, respectively. Interest Income for the six months ended June 30, 2026 and June 30, 2025 was $4.2 million and $3.1 million, respectively.