Company: MWA
Filing Date: 2025-11-19
Form Type: 10-K
Source: 0001350593-25-000066
Chunk: 372

Company: Mueller Water Products, Inc.
Filing Date: 2025-11-19
Form: 10-K
Item: Item 7
Chunk 372
---
 income tax liabilities$51.0 $55.4 We evaluate the need for a valuation allowance against our deferred tax assets each quarter considering results to date, projections of taxable income, tax planning strategies and reversing taxable temporary differences.Our state net operating loss carryforwards, which expire between our fiscal years 2025 and 2027, remain available to offset future taxable earnings; however, we currently do not expect full utilization of certain state net operating loss carryforwards before their expiration.  Consequently, we have recorded a valuation allowance against the deferred tax asset which is reflected in the table above.On July 4, 2025, the United States government enacted H.R.1, commonly referred to as the One Big Beautiful Bill Act (“OBBBA”).  OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act enacted in 2017, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions.  For fiscal year 2025, OBBBA did not have a material impact on our financial statements. We continue to evaluate the impact of OBBBA on future years.

F- 22

Table of ContentsIndex to Financial Statements

Note 7.    Borrowing Arrangements

The components of our long-term debt are as follows: September 30,  20252024 (in millions)4.0% Senior Notes$450.0 $450.0 Finance leases4.1 2.7 Total debt454.1 452.7 Less: deferred financing costs2.5 3.2 Less: current portion of long-term debt1.2 0.8 Total long-term debt$450.4 $448.7 The scheduled maturities of all borrowings outstanding as of September 30, 2025, are $1.2 million in 2026, $1.2 million in 2027, $1.2 million in 2028, and $450.5 million in 2029.ABL Agreement.  Our asset-based lending agreement, as amended, (“ABL”) is provided by a syndicate of banking institutions and consists of a revolving credit facility for up to $175.0 million in borrowing capacity that matures the earlier of (a) March 16, 2029, which is ninety-one days prior to the stated maturity date of our 4.0% Senior Notes if