Company: MWA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001350593-25-000029
Chunk: 59

Company: Mueller Water Products, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 59
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9 3.4 3.9 3.4 Excess tax (benefit) deficit related to stock-based compensation(1.0)— (2.0)0.1 Tax credits(1.6)(2.1)(1.6)(2.1)Global Intangible Low-Taxed Income0.3 0.2 0.3 0.2 Foreign income tax rate differential(0.4)(0.8)(0.4)(0.8)Nondeductible compensation1.4 1.0 1.4 1.0 Uncertain tax positions0.3 0.5 0.5 (1.6)Valuation allowances— — 0.1 — Other0.3 1.6 0.5 1.5 Effective income tax rate24.2 %24.8 %23.7 %22.7 %At March 31, 2025 and September 30, 2024, the gross liabilities for unrecognized income tax benefits were $3.6 million and $3.0 million, respectively, and are included in Other noncurrent liabilities.During the six months ended March 31, 2024, we recorded $1.6 million in income tax benefits due to the release of an uncertain tax position that expired on December 31, 2023.

Note 4.  Borrowing Arrangements 

The components of our long-term debt are as follows: March 31,September 30,  20252024 (in millions)4.0% Senior Notes$450.0 $450.0 Finance leases3.3 2.7 Total debt453.3 452.7 Less: deferred financing costs2.8 3.2 Less: current portion of long-term debt1.0 0.8 Long-term debt$449.5 $448.7 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 the Notes are still outstanding on that date or (b) March 28, 202