Company: MWA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001350593-25-000029
Chunk: 103

Company: Mueller Water Products, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part II, Item 8
Chunk 103
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 believe we were in compliance with these covenants at March 31, 2025.We may redeem some or all of the 4.0% Senior Notes at any time after June 15, 2024, at specified redemption prices.  Upon a Change of Control (as defined in the Indenture), we could be required to offer to purchase the 4.0% Senior Notes at a price equal to 101% of the outstanding principal amount if there is a Ratings Decline (as defined in the Indenture).

Note 5.  Retirement Plan 

We have a defined benefit plan (“Pension Plan”) that we fund in accordance with its requirements and, where applicable, in amounts sufficient to satisfy the minimum funding requirements of applicable laws.  The Pension Plan provides benefits based on years of service and compensation or at stated amounts for each year of service with an annual measurement date of September 30.

15

The components of net periodic cost for our Pension Plan are presented below:Three months endedSix months endedMarch 31,March 31, 2025202420252024 (in millions)Service cost$0.1 $0.1 $0.3 $0.3 Pension (benefit) expense other than service:Interest cost3.0 3.5 6.0 7.0 Expected return on plan assets(3.6)(3.3)(7.2)(6.6)Amortization of actuarial net loss0.5 0.8 1.1 1.6 Pension (benefit) expense other than service(0.1)1.0 (0.1)2.0 Net periodic cost$— $1.1 $0.2 $2.3 The amortization of actuarial losses, net of income tax, is recorded as a component of Other comprehensive income.  For the three months ended March 31, 2025 and 2024, the amortization of actuarial net loss is shown net of income tax of $0.1 million and $0.2 million, respectively, in the condensed consolidated statements of comprehensive income.  For the six months ended March 31, 2025 and 2024, the amortization of actuarial loss is shown net of income tax of $0.3 million and $0.4 million, respectively, in the condensed consolidated statements of comprehensive income.