Company: MWA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001350593-25-000029
Chunk: 15

Company: Mueller Water Products, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 15
---
-09 requires public business entities to disclose a tabular rate reconciliation utilizing percentages and reporting currency amounts in specific categories with certain reconciling items at or above the specified 5% threshold to improve the transparency and comparability of disclosures.  Additionally, entities are required to disclose the year-to-date amount of income taxes paid, net of refunds received, disaggregated by federal (national), state, and foreign jurisdictions.  Disclosure of all individual jurisdictions where income taxes paid, net of refunds received, is 5% or more of the total is also required.  This guidance is effective for fiscal years beginning after December 15, 2024 with early adoption permitted.  Upon adoption, ASU 2023-09 should be applied on a prospective basis while retrospective application is permitted.  We do not expect ASU 2023-09 to have a material impact on our financial statements and related disclosures.In November 2024, the FASB issued ASU No. 2024-03 “Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40):  Disaggregation of Income Statement Expenses” (“ASU 2024-03”).  ASU 2024-03 requires public business entities to disclose disaggregated information about certain income statement expense line 

10

items.  These expenses include purchases of inventory, employee compensation, depreciation and intangible asset amortization for each income statement line item that contains those expenses.  Additionally, specified expenses, gains or losses that are currently required to be disclosed must now be included in the disaggregated income statement expense line item disclosures and any remaining amounts should be described qualitatively.  There is also a requirement to separately disclose total selling expenses and provide a definition of those expenses.  This guidance is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027.  Upon adoption, ASU 2024-03 should be applied on a prospective basis while retrospective application is permitted.  We are currently evaluating the impact ASU 2024-03 will have on our financial statements and related disclosures.Strategic Reorganization and Other Charges The Company expects to incur certain costs related to the decommissioning and demolition of its legacy foundry in Decatur, Illinois, the amount of which is not estimable at this time.  During the six months ended March 31, 2025, we recorded approximately $4.1 million in Strategic reorganization