Company: MWA
Filing Date: 2025-11-19
Form Type: 10-K
Source: 0001350593-25-000066
Chunk: 458

Company: Mueller Water Products, Inc.
Filing Date: 2025-11-19
Form: 10-K
Item: Item 7
Chunk 458
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7 

F- 19

Table of ContentsIndex to Financial Statements

Goodwill As of September 30, 2025, our remaining goodwill balance is within our Water Management Solutions segment.  Changes in the carrying amount of goodwill for the years ended September 30, 2025, and 2024 were as follows (in millions):Balance as of September 30, 2023:Goodwill$817.8 Accumulated impairment (724.1)Net goodwill 93.7 2024 Activity:Goodwill impairment(16.3)Change in foreign currency exchange rates3.3 Balance as of September 30, 2024:Goodwill821.1 Accumulated impairment (740.4)Net goodwill80.7 2025 Activity:Change in foreign currency exchange rates8.5 Balance as of September 30, 2025:Goodwill829.6 Accumulated impairment(740.4)Net goodwill$89.2 

Note 6.    Income Taxes 

The components of income before income taxes are presented below:202520242023 (in millions)U.S.$248.2 $176.1 $83.2 Non-U.S.6.0 (12.7)25.8 Income before income taxes$254.2 $163.4 $109.0 The Tax Cuts and Jobs Act (the “Act”) imposed a one-time transition tax on the undistributed, previously untaxed, post-1986 foreign “earnings and profits” as defined by the Internal Revenue Services (“IRS”) of certain United States-owned corporations.  As of September 30, 2025, the remaining balance of our transition obligation is $1.7 million, which will be paid in full by January 2026, as provided in the Act.  Other than for Krausz’s investment in its United States subsidiary and other anticipated distributions which result cumulatively in immaterial income tax, we have not recorded income taxes for unrepatriated foreign earnings that may be subject to withholding tax or any outside cost basis differences inherent in our foreign subsidiaries, as these amounts continue to be indefinitely reinvested in foreign operations.  We have a foreign tax credit carryforward of $4.7 million, expiring in our fiscal year 2028, for which we have recorded a valuation allowance as we do not expect to utilize it prior to expiration.The federal income tax returns for Mueller