Company: MWA
Filing Date: 2025-02-05
Form Type: 10-Q
Source: 0001350593-25-000012
Chunk: 56

Company: Mueller Water Products, Inc.
Filing Date: 2025-02-05
Form: 10-Q
Item: Part I, Item 8
Chunk 56
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 are presented below:Three months endedDecember 31, 20242023 (in millions)Service cost$0.2 $0.2 Pension expense other than service:Interest cost3.0 3.5 Expected return on plan assets(3.6)(3.3)Amortization of actuarial net loss0.6 0.8 Pension expense other than service— 1.0 Net periodic cost$0.2 $1.2 

The amortization of actuarial losses, net of income tax, is recorded as a component of Other comprehensive income.  For  each of the three months ended December 31, 2024 and 2023, the amortization of actuarial net loss is shown net of income tax of $0.2 million in the condensed consolidated statements of comprehensive income.  

Note 6.  Stock-based Compensation Plans 

We grant various forms of stock-based compensation, including market-based restricted stock units (“MRSUs”), restricted stock units, stock options and performance-based restricted stock units (“PRSUs”) under our Amended and Restated 2006 Mueller Water Products, Inc. Stock Incentive Plan (the “2006 Stock Plan”), Phantom Plan instruments under our Mueller Water Products, Inc. 2012 Phantom Plan, and Employee stock purchase plan instruments under our 2006 Employee Stock Purchase Plan.  Grants issued during the three months ended December 31, 2024 are as follows:Number grantedWeighted average grant date fair value per instrumentTotal grant date fair value(in millions)Quarter ended December 31, 2024MRSUs64,044 $38.25 $2.4 PRSUs64,044 25.58 1.6 Restricted stock units87,344 25.58 2.2 Phantom Plan instruments134,382 25.58 3.4 Non-qualified stock options207,417 7.90 1.6 Employee stock purchase plan instruments24,621 $3.86 0.1 Total - Year-to-date ended December 31, 2024$11.3 An MRSU award represents a target number of units that may be paid out at the end of a three-year award cycle based on a calculation of our relative total shareholder return (“TSR”) performance as compared with the TSR of a selected peer group.  Settlements in our common shares will range from zero