Segment Information

3 Months Ended

Mar. 31, 2024

Segment Reporting [Abstract]

Segment Information

Segment Information

We evaluate performance based on net sales and segment income (loss) and use a variety of ratios to measure performance of our reporting segments. These results are not necessarily indicative of the results of operations that would have occurred had each segment been an independent, stand-alone entity during the periods presented. Segment income (loss) represents equity income of unconsolidated subsidiaries and operating income exclusive of intangible amortization, certain acquisition related expenses, costs of restructuring and transformation activities, impairments and other unusual non-operating items.

Financial information by reportable segment is as follows:

	Three months ended
In millions	March 31, 2024		March 31, 2023
Net sales
Flow	$	384.3	$	391.8
Water Solutions	273.1		272.0
Pool	359.5		364.3
Other	0.3		0.5
Consolidated	$	1,017.2	$	1,028.6
Segment income (loss)
Flow	$	77.3	$	65.0
Water Solutions	55.6		52.4
Pool	110.8		116.2
Other	(26.4)		(22.6)
Consolidated	$	217.3	$	211.0

The following table presents a reconciliation of consolidated segment income to consolidated income from continuing operations before income taxes:

	Three months ended
In millions	March 31, 2024		March 31, 2023
Segment income	$	217.3	$	211.0
Asset impairment and write-offs	(0.8)		(3.9)
Restructuring and other	(4.6)		(2.9)
Transformation costs	(17.0)		(8.5)
Intangible amortization	(13.5)		(13.8)
Legal accrual adjustments and settlements	0.3		1.9
Interest expense, net	(27.3)		(32.4)
Other expense	(1.0)		(0.9)
Income from continuing operations before income taxes	$	153.4	$	150.5