v3.26.1
OPERATING SEGMENTS
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
OPERATING SEGMENTS OPERATING SEGMENTS
The Company’s organizational structure consists of global business units and market-based leadership teams. The Company’s nine operating segments follow its commercial and product-based activities and are based on engagement in business activities, availability of discrete financial information and review of operating results by the Chief Operating Decision Maker (“CODM”) at the identified operating segment level.
The Company’s operating segments that share similar economic characteristics and future prospects, nature of the products and production processes, end-use markets, channels of distribution and regulatory environment have been aggregated into four reportable segments: Global Water, Global Institutional & Specialty, Global Pest Elimination and Global Life Sciences.
Comparability of Reportable Segments
Effective January 1, 2026, the Company’s former Light & Heavy operating segment was divided into three new operating segments, Heavy Water, Light Water and High-Tech, which continue to remain in the Global Water reportable segment. The Company made other immaterial changes, including the movement of certain customers and cost allocations between reportable segments. These changes are presented in the "Other" column of the table below. Prior period amounts have been recast to conform with current period presentation.
The Company evaluates the performance of its non-U.S. dollar functional currency international operations based on fixed currency exchange rates, which eliminates the impact of exchange rate fluctuations on its international operations. Fixed currency amounts are updated annually at the beginning of each year based on translation into U.S. dollars at foreign currency exchange rates established by management, with all periods presented using such rates. The “Fixed Currency Rate Change” column shown in the following table reflects international operations at fixed currency exchange rates established by management at the beginning of 2026, rather than the 2025 established rates. The difference between the fixed currency exchange rates and the actual currency exchange rates is reported within the “Effect of foreign currency translation” row in the following table.
The impact of the preceding changes on previously reported full year 2025 reportable segment information is summarized as follows:
December 31, 2025
(millions)2025 Reported
Valued at 2025
Management Rates		OtherFixed
Currency
Rate Change		2025 Reported
Valued at 2026
Management Rates
Net Sales
Global Water$7,679.9 $- $427.8 $8,107.7 
Global Institutional & Specialty5,962.0 - 202.8 6,164.8 
Global Pest Elimination1,219.2 - 39.6 1,258.8 
Global Life Sciences706.1 - 61.0 767.1 
Subtotal at fixed currency rates15,567.2 - 731.2 16,298.4 
Effect of foreign currency translation514.0 (731.2)(217.2)
Consolidated reported GAAP net sales$16,081.2 $- $- $16,081.2 
Cost of Sales
Global Water$4,585.9 ($2.3)$254.5 $4,838.1 
Global Institutional & Specialty2,977.7 0.7 109.6 3,088.0 
Global Pest Elimination686.3 0.1 21.4 707.8 
Global Life Sciences382.6 1.5 29.0 413.1 
Corporate7.7 - - 7.7 
Subtotal at fixed currency rates$8,640.2 $- $414.5 $9,054.7 
Selling, General and Administrative Expenses
Global Water$1,830.1 $3.1 $78.9 $1,912.1 
Global Institutional & Specialty1,626.5 (1.3)53.5 1,678.7 
Global Pest Elimination295.8 0.4 10.2 306.4 
Global Life Sciences202.8 (2.2)9.3 209.9 
Corporate195.2 - 4.2 199.4 
Subtotal at fixed currency rates$4,150.4 $- $156.1 $4,306.5 
Special (Gains) and Charges
Corporate$150.3 $- $- $150.3 
Subtotal at fixed currency rates$150.3 $- $- $150.3 
Operating Income
Global Water$1,263.9 ($0.8)$94.4 $1,357.5 
Global Institutional & Specialty1,357.8 0.6 39.7 1,398.1 
Global Pest Elimination237.1 (0.5)8.0 244.6 
Global Life Sciences120.7 0.7 22.7 144.1 
Corporate(353.2)- (4.2)(357.4)
Subtotal at fixed currency rates2,626.3 - 160.6 2,786.9 
Effect of foreign currency translation111.3 - (160.6)(49.3)
Consolidated reported GAAP operating income$2,737.6 $- $- $2,737.6 
Reportable Segment Information
The Company has determined its significant segment expenses are cost of sales (“COS”) and selling, general and administrative expenses (“SG&A”), which are regularly provided to the CODM at fixed currency exchange rates.
Financial information for the quarter ended June 30 for each of the Company’s reportable segments were as follows:
June 30, 2026
(millions)Net SalesCOSSG&ASpecial (gains) and chargesOperating Income (Loss)
Global Water$2,215.5 $1,345.9 $521.9 $- $347.7 
Global Institutional & Specialty1,617.4 806.5 421.0 - 389.9 
Global Pest Elimination350.5 197.6 82.4 - 70.5 
Global Life Sciences221.0 107.3 55.2 - 58.5 
Corporate - 4.7 57.9 47.4 (110.0)
Subtotal at fixed currency rates$4,404.4 $2,462.0 $1,138.4 $47.4 $756.6 
Effect of foreign currency translation11.0 1.3 
Consolidated reported GAAP$4,415.4 $757.9 
June 30, 2025
(millions)Net SalesCOSSG&ASpecial (gains) and chargesOperating Income (Loss)
Global Water$2,014.9 $1,206.1 $479.1 $- $329.7 
Global Institutional & Specialty1,562.5 769.4 425.0 - 368.1 
Global Pest Elimination321.2 181.6 77.1 - 62.5 
Global Life Sciences191.4 100.1 51.1 - 40.2 
Corporate - 2.5 49.2 24.3 (76.0)
Subtotal at fixed currency rates$4,090.0 $2,259.7 $1,081.5 $24.3 $724.5 
Effect of foreign currency translation(64.8)(14.4)
Consolidated reported GAAP$4,025.2 $710.1 
Financial information for the six months ended June 30 for each of the Company’s reportable segments were as follows:
June 30, 2026
(millions)Net SalesCOSSG&ASpecial (gains) and chargesOperating Income (Loss)
Global Water$4,250.7 $2,585.0 $1,020.2 $- $645.5 
Global Institutional & Specialty3,125.1 1,557.5 830.2 - 737.4 
Global Pest Elimination660.6 376.4 162.0 - 122.2 
Global Life Sciences421.9 215.3 110.6 - 96.0 
Corporate- 16.0 116.1 92.7 (224.8)
Subtotal at fixed currency rates$8,458.3 $4,750.2 $2,239.1 $92.7 $1,376.3 
Effect of foreign currency translation23.2 3.6 
Consolidated reported GAAP$8,481.5 $1,379.9 
June 30, 2025
(millions)Net SalesCOSSG&ASpecial (gains) and chargesOperating Income (Loss)
Global Water$3,914.4 $2,337.2 $968.8 $- $608.4 
Global Institutional & Specialty3,017.3 1,500.8 840.0 - 676.5 
Global Pest Elimination608.6 348.5 149.9 - 110.2 
Global Life Sciences372.8 197.5 104.1 - 71.2 
Corporate- 7.3 98.8 53.4 (159.5)
Subtotal at fixed currency rates$7,913.1 $4,391.3 $2,161.6 $53.4 $1,306.8 
Effect of foreign currency translation(192.9)(41.4)
Consolidated reported GAAP$7,720.2 $1,265.4 

The profitability of the Company’s operating segments is evaluated by management based on operating income.

Consistent with the Company’s internal management reporting, Corporate includes intangible asset amortization specifically from the Nalco, Purolite and Ovivo Electronics acquisitions and special (gains) and charges, as discussed in Note 2, “Special (Gains) and Charges,” that are not allocated to the Company’s reportable segments.
The Company has an integrated supply chain function that serves all of its reportable segments. As such, asset and capital expenditure information by reportable segment has not been provided and is not available since the Company does not produce or utilize such information internally. In addition, although depreciation and amortization expense is a component of each reportable segment’s operating results, it is not discretely identifiable.