Company: MWA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001350593-25-000029
Chunk: 94

Company: Mueller Water Products, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part II, Item 8
Chunk 94
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 particular year, we mean our fiscal year ended or ending September 30 in that particular calendar year.Accounting Pronouncements Not Yet AdoptedIn November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07 “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures” (“ASU 2023-07”).  ASU 2023-07 requires public business entities that disclose information on their reportable segments to provide additional information on their significant expense categories and “other segment items,” which represent the difference between segment revenue less significant segment expense and a segment’s measure of profit or loss.  A description of “other segment items” is also required.  Further, certain segment related disclosures that were limited to annual disclosure are now required for interim periods.  Finally, public business entities are required to disclose the title and position of their Chief Operating Decision Maker (“CODM”) and explain how the CODM uses the reported measures of profit or loss to assess segment performance.  This guidance is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024.  Upon adoption, ASU 2023-07 should be applied retrospectively to all prior periods.  We do not expect ASU 2023-07 to have a material impact on our financial statements and related disclosures.In December 2023, the FASB issued ASU No. 2023-09 “Income Taxes (Topic 740): Improvements to Tax Disclosures” (“ASU 2023-09”).  ASU 2023-09 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