Company: MWA
Filing Date: 2025-11-19
Form Type: 10-K
Source: 0001350593-25-000066
Chunk: 459

Company: Mueller Water Products, Inc.
Filing Date: 2025-11-19
Form: 10-K
Item: Item 7
Chunk 459
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 Water Products, Inc. are closed for years prior to our fiscal year 2022.  We remain liable for any taxes related to U.S. Pipe income for periods prior to 2012 pursuant to the terms of the sale agreement with the purchaser of the business. Our state income tax returns are generally closed for years prior to our fiscal year 2022, except with regard to our state net operating loss carryforwards.  Our Canadian income tax returns are generally closed for years prior to our fiscal year 2018.  We do not have any material unpaid assessments.

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Table of ContentsIndex to Financial Statements

The components of income tax expense are as follows:202520242023 (in millions)Current:U.S. federal$56.0 $53.4 $28.4 U.S. state and local11.7 14.8 6.0 Non-U.S.1.8 0.8 3.5 Total current income tax expense69.5 69.0 37.9 Deferred:U.S. federal(5.2)(20.7)(11.2)U.S. state and local(0.5)(1.1)(3.3)Non-U.S.(1.3)0.3 0.1 Total deferred income tax benefit(7.0)(21.5)(14.4)Income tax expense$62.5 $47.5 $23.5 The reconciliation between income tax expense at the United States federal statutory income tax rate and reported income tax expense is presented below:202520242023(in millions)Expense at U.S. federal statutory income tax rate$53.4 $34.3 $22.9 Adjustments to reconcile to income tax expense:State income taxes, net of federal benefit9.0 9.6 1.5 Uncertain tax positions0.2 (2.3)0.5 Nondeductible compensation4.0 2.1 1.8 Nondeductible expenses, other than compensation0.7 0.6 0.9 Valuation allowances0.3 3.0 (0.6)Basis difference in foreign investment— 0.1 0.1 Foreign income taxes(1.6)(0.8)(2.0)Excess tax (benefit) deficit related to stock compensation(2.