Company: MMU
Filing Date: 2025-07-30
Form Type: N-CSR
Source: 0001133228-25-007762
Chunk: 26

Company: WESTERN ASSET MANAGED MUNICIPALS FUND INC.
Filing Date: 2025-07-30
Form: N-CSR
Chunk 26
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 and will be available to offset future taxable capital gains.                       |
| (a) | Other book/tax temporary differences are attributable to the book/tax differences                                   
 in the timing of thedeductibility of various expenses.                                                              |
| (b) | The difference between book-basis and tax-basis unrealized appreciation (depreciation)                              
 is attributable to the taxdeferral of losses on wash sales, the difference between book and tax amortization        
 methods for premium onfixed income securities and book/tax differences in the accrual of interest income            
 on securities in default.                                                                                           |

12. Operating segments The Fund has adopted the Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280) - Improvements to Reportable Segment Disclosures . The update is limited to disclosure requirements and does not impact the Fund’s financial position or results of operations. The Fund operates as a single operating segment, which is an investment portfolio. The Fund’s Investment Manager serves as the Chief Operating Decision Maker (CODM), evaluating fund-wide results and performance under a unified investment strategy. The CODM uses these measures to assess fund performance and allocate resources effectively. Internal reporting provided to the CODM aligns with the accounting policies and measurement principles used in the financial statements. For information regarding segment assets, segment profit or loss, and significant expenses, refer to the Statement of Assets and Liabilities and the Statement of Operations, along with the related Notes to Financial Statements. The Fund’s Schedule of Investments provides details of the Fund’s investments that generate returns such as interest, dividends, and realized and unrealized gains or losses. Performance metrics, including portfolio turnover and expense ratios, are disclosed in the Financial Highlights.

Western Asset Managed Municipals Fund Inc. 2025 Annual Report 55

Report of independent registered public accounting firm

To the Board of Directors and Shareholders of Western Asset Managed Municipals Fund Inc. Opinion on the Financial Statements We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of Western Asset Managed Municipals Fund Inc. (the “ Fund ” ) as of May 31, 2025, the related statements of operations and cash flows for the year ended May 31, 2025, the statement of changes in net assets for each of the two years in the period ended May 31, 2025, including the related notes, and the financial highlights for each of the five years in the period ended May