Company: MWA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001350593-25-000029
Chunk: 93

Company: Mueller Water Products, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part II, Item 8
Chunk 93
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Table of Contents

MUELLER WATER PRODUCTS, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 AS OF AND FOR THE THREE AND SIX MONTHS ENDED MARCH 31, 2025 

(UNAUDITED)

Note 1.  Organization and Basis of Presentation 

Mueller Water Products, Inc., a Delaware corporation, together with its consolidated subsidiaries, operates in two business segments: Water Flow Solutions and Water Management Solutions.  Water Flow Solutions’ portfolio includes iron gate valves, specialty valves and service brass products.  Water Management Solutions’ portfolio includes fire hydrants, repair and installation, natural gas, metering, leak detection, as well as pressure management and control products and solutions.  The “Company,” “we,” “us” and “our” refer to Mueller Water Products, Inc. and its subsidiaries.  With regard to the Company’s segments, “we,” “us” and “our” may also refer to the segment being discussed. Our condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), which require us to make certain estimates and assumptions that affect the reported amounts of assets, liabilities, sales and expenses as well as in the disclosure of contingent assets and liabilities for the reporting periods.  Actual results could differ from those estimates.  All significant intercompany balances and transactions have been eliminated.  These condensed consolidated financial statements do not include all information required by GAAP for complete financial statements and should be read in conjunction with the consolidated financial statements included in our Annual Report on Form 10-K for the year ended September 30, 2024.  In our opinion, all normal and recurring adjustments that we consider necessary for a fair financial statement presentation have been made.  The condensed consolidated balance sheet at September 30, 2024 was derived from our audited financial statements. Our business is seasonal as a result of the impact of cold weather conditions.  Net sales and operating income historically have been lowest in the three-month periods ending December 31 and March 31 when the northern United States (“U.S.”) and most of Canada generally face weather conditions that restrict significant construction and other field crew activity.  Therefore, the results of operations for the six months ended March 31, 2025 are not necessarily indicative of operating results that may be achieved for any other interim period or the full year.Unless the context indicates otherwise, whenever we refer to a