We have a program designed to accelerate growth and drive margin expansion through transformation of our business model to drive operational excellence, reduce complexity and streamline our processes (the “Transformation Program”). The Transformation Program is structured in multiple phases and is expected to empower us to work more efficiently and optimize our business to better serve our customers while meeting our financial objectives.

During the six months ended June 30, 2026, we initiated and continued execution of activities associated with our Transformation Program as well as initiated and continued certain business restructuring initiatives aimed at reducing our fixed cost structure and realigning our business. Restructuring initiatives included a reduction in hourly and salaried headcount of approximately 245 employees during the six months ended June 30, 2026.

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


	Three months ended				Six months ended
In millions	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Restructuring Initiatives
Severance and related costs	$	32.9	$	12.0	$	46.1	$	20.3

Other restructuring costs and related adjustments (1)	1.7		3.5		2.2		4.9
Total restructuring costs	34.6		15.5		48.3		25.2
Transformation Program

Asset impairment and write-offs	—		10.3		—		15.5
Other transformation costs (2)	17.5		12.5		29.0		21.6
Total transformation costs	17.5		22.8		29.0		37.1
Total restructuring and transformation costs	$	52.1	$	38.3	$	77.3	$	62.3
(1) Other restructuring costs and related adjustments primarily consist of certain accruals and related refinements as well as various contract termination costs.
(2) Other transformation costs primarily consist of professional services and project management related costs.


	Three months ended				Six months ended
In millions	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Flow	$	3.4	$	7.7	$	4.9	$	14.7
Water Solutions	22.1		7.7		27.6		13.6
Pool	7.7		5.8		8.8		9.0
Corporate and other	18.9		17.1		36.0		25.0
Total restructuring and transformation costs	$	52.1	$	38.3	$	77.3	$	62.3

Activity related to accrued severance and related costs associated with restructuring and transformation activities recorded in Other current liabilities in the Condensed Consolidated Balance Sheets is summarized as follows for the six months ended June 30, 2026: