Company: MWA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001350593-25-000029
Chunk: 12

Company: Mueller Water Products, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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.8)Balance at March 31, 2024$1.6 $1,214.7 $(423.2)$(38.6)$754.5 

The accompanying notes are an integral part of the condensed consolidated financial statements.7

MUELLER WATER PRODUCTS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

 Six months endedMarch 31, 20252024 (in millions)Operating activities:Net income$86.6 $58.6 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation18.8 19.2 Amortization3.6 13.7 Non-cash asset impairment1.0 — (Gain) loss on sale of assets(0.1)0.4 Stock-based compensation5.0 4.5 Pension cost 0.2 2.3 Deferred income taxes(2.3)(9.9)Inventory reserve provision4.9 5.4 Other, net0.6 0.3 Changes in assets and liabilities:Receivables, net(7.0)(12.4)Inventories(9.5)(14.6)Other assets(1.6)(3.9)Accounts payable6.0 (6.3)Other current liabilities(33.1)(0.6)Other noncurrent liabilities(4.7)5.5 Net cash provided by operating activities68.4 62.2 Investing activities:Capital expenditures(21.1)(15.8)Proceeds from sale of assets0.1 0.1 Net cash used in investing activities(21.0)(15.7)Financing activities:Dividends paid(21.0)(20.0)Common stock repurchased under buyback program(5.0)(10.0)Employee taxes related to stock-based compensation(4.3)(1.6)Common stock issued3.9 1.5 Debt issuance costs— (0.8)Principal payments for finance lease obligations(0.5)(0.5)Net cash used in financing activities(26.9)(31.4)Effect of currency exchange rate changes on cash(1.2)3.8 Net change in cash and cash equivalents19.3