Acquisitions |
9 Months Ended |
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Sep. 30, 2026 | |
| Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] | |
| Acquisitions | Acquisitions On October 1, 2026, as part of our Water Solutions reportable segment, we acquired the issued and outstanding equity securities of Taco Group Holdings (“Taco”) for a purchase price of $1.425 billion, subject to customary adjustments. Taco manufactures hydronic and water-driven solutions, providing innovative, sustainable, and high-performance products for the HVAC, plumbing, and industrial sectors. The acquisition of Taco allows us to provide a more comprehensive suite of water solutions and enhanced development capabilities to benefit our customers across commercial, industrial and residential applications. We funded this acquisition through a combination of cash on hand and debt financing. See Note 10 for further discussion of the debt financing completed during the quarter and on the acquisition closing date. As of the filing date of this Quarterly Report, the initial accounting and preliminary purchase price allocation for the acquisition is incomplete. We are continuing to evaluate information relating to acquired working capital, tangible and identifiable intangible assets, assumed liabilities, goodwill and income tax matters. As a result, certain disclosures required under accounting standards codification (“ASC”) 805 are not yet available.
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